# EDGAR Filing Document

**Accession Number:** 0001804196
**File Stem:** 0001410368-26-031776
**Filing Date:** 2026-3
**Character Count:** 513856
**Document Hash:** b28571f91a06e8e030bdba3099e3106e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-031776.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0001410368-26-031776

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**PERIOD START**: 20261031

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23511
- **FILM NUMBER:** 26795944

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

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

## Series and Classes Contracts Data

### iShares High Yield Active ETF (Series ID: S000085059)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000249922 | iShares High Yield Active ETF |  |

## Nport-Ex

January 31, 2026

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

2026 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock ETF Trust II** |
| • iShares High Yield Active ETF \| BRHY \| NASDAQ |

---

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

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

------

Schedule of Investments (unaudited)

January 31, 2026

**iShares High Yield Active ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** | **Energy - Alternate Sources — 0.2%** |
| NextEra Energy Partners LP, 2.50%, 06/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $199 | &nbsp;&nbsp; $195279 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| Meritage Homes Corp., 1.75%, 05/15/28 | &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 88284 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Cable One, Inc., 1.13%, 03/15/28 | &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 53960 |
| **Real Estate Investment Trusts — 0.0%** | **Real Estate Investment Trusts — 0.0%** | **Real Estate Investment Trusts — 0.0%** |
| Digital Realty Trust LP, 1.88%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 11365 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| ON Semiconductor Corp., 0.50%, 03/01/29 | &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 37117 |
| **Total Convertible Bonds — 0.4%** <br>**(Cost: $392,465)** | **Total Convertible Bonds — 0.4%** <br>**(Cost: $392,465)** | &nbsp;&nbsp; 386005 |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.6%** | **Advertising — 1.6%** | **Advertising — 1.6%** |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD310 | &nbsp;&nbsp; 323269 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 148428 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD343 | &nbsp;&nbsp; 364450 |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD82 | &nbsp;&nbsp; 82026 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 81071 |
| CMG Media Corp., 8.88%, 06/18/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7797 |
| Lamar Media Corp., 5.38%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 41890 |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.29%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 40045 |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD81 | &nbsp;&nbsp; 82479 |
| &nbsp;&nbsp;&nbsp; 10.38%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 51807 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD111 | &nbsp;&nbsp; 108344 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16600 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24995 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 23170 |
|  |  | &nbsp;&nbsp; 1396371 |
| **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** |
| AAR Escrow Issuer LLC, 6.75%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17595 |
| ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/31 | &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 90142 |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/30<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 45077 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD167 | &nbsp;&nbsp; 175415 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 39889 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11678 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12860 |
| &nbsp;&nbsp;&nbsp; Efesto Bidco SpA Efesto U.S. LLC, 7.50%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 203884 |
| Goat Holdco LLC, 6.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 39027 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD226 | &nbsp;&nbsp; 230270 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 35138 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD484 | &nbsp;&nbsp; 492718 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD201 | &nbsp;&nbsp; 207829 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD490 | &nbsp;&nbsp; 507158 |
|  |  | &nbsp;&nbsp; 2108680 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| Darling Ingredients, Inc., 6.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 21280 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| American Airlines, Inc., 8.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; $43827 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP <br> Ltd., 5.75%, 04/20/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 6568 |
| JetBlue Airways Corp., 9.88%, 09/20/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 56244 |
| OneSky Flight LLC, 8.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 37423 |
| United Airlines Holdings, Inc., 5.38%, 03/01/31 | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 69685 |
|  |  | &nbsp;&nbsp; 213747 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, 10.00%, 07/15/33, <br> (10.00% Cash or 10.75% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD211 | &nbsp;&nbsp; 231962 |
| Crocs, Inc., 4.13%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 18304 |
| Levi Strauss & Co., 3.50%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 45823 |
|  |  | &nbsp;&nbsp; 296089 |
| **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** | **Auto Manufacturers — 0.6%** |
| Allison Transmission, Inc., 5.88%, 12/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD74 | &nbsp;&nbsp; 75047 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC, 6.13%, <br> 09/30/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD174 | &nbsp;&nbsp; 173517 |
| Nissan Motor Co. Ltd., 7.75%, 07/17/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 211075 |
| &nbsp;&nbsp;&nbsp; Rivian Holdings LLC/Rivian LLC/Rivian <br> Automotive LLC, 10.00%, 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 34928 |
|  |  | &nbsp;&nbsp; 494567 |
| **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 30609 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31890 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 120431 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 206088 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD247 | &nbsp;&nbsp; 255652 |
| Dana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 09/01/30<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 7642 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/32<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11349 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings Inc / Garrett LX I Sarl, <br> 7.75%, 05/31/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 34937 |
| Goodyear Tire & Rubber Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/31 | &nbsp;&nbsp;&nbsp; USD4 | &nbsp;&nbsp; 3850 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/30<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18377 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD79 | &nbsp;&nbsp; 80478 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 39220 |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 69411 |
|  |  | &nbsp;&nbsp; 909934 |
| **Banks — 2.7%** | **Banks — 2.7%** | **Banks — 2.7%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, (5-year CMT + 2.35%)<sup>(b)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD162 | &nbsp;&nbsp; 164892 |
| &nbsp;&nbsp;&nbsp; 6.63%, (5-year CMT + 2.68%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD174 | &nbsp;&nbsp; 180789 |
| &nbsp;&nbsp;&nbsp; Barclays PLC, 9.63%, (5-year USD ICE Swap + <br> 5.77%)<sup>(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD360 | &nbsp;&nbsp; 409411 |
| &nbsp;&nbsp;&nbsp; Brookfield Finance, Inc., 6.30%, 01/15/55, <br> (5-year CMT + 2.08%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD123 | &nbsp;&nbsp; 122179 |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, , (5-year CMT + 3.00%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD55 | &nbsp;&nbsp; 56005 |
| &nbsp;&nbsp;&nbsp; 6.88%, (5-year CMT + 2.89%)<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 124630 |
| &nbsp;&nbsp;&nbsp; Series CC, 7.13%, (5-year CMT + 2.69%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD155 | &nbsp;&nbsp; 160422 |
| &nbsp;&nbsp;&nbsp; Series EE, 6.75%, (5-year CMT + 2.57%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD113 | &nbsp;&nbsp; 115232 |
| &nbsp;&nbsp;&nbsp; Series FF, 6.95%, (5-year CMT + 2.73%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 47386 |
| Goldman Sachs Group, Inc.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 6.85%, (5-year CMT + 2.46%)<sup>(b)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD134 | &nbsp;&nbsp; 139650 |
| &nbsp;&nbsp;&nbsp; Series Y, 6.13%, (10-year CMT + 2.40%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD115 | &nbsp;&nbsp; 117170 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. (The), <br> Series W, 6.25%, (7-year CMT + 2.81%)<sup>(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; $17558 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, , (5-year USD ICE Swap + <br> 3.29%)<sup>(a)(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 203271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, , (5-year USD ICE Swap + <br> 3.17%)<sup>(a)(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 204933 |
| &nbsp;&nbsp;&nbsp; 9.25%, (5-year CMT + 4.76%)<sup>(a)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 233916 |
| Walker & Dunlop, Inc., 6.63%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 22552 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., 6.85%, (5-year CMT + <br> 2.77%)<sup>(b)(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 37650 |
|  |  | &nbsp;&nbsp; 2357646 |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| Genmab A/S, 7.25%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 211672 |
| **Building Materials — 1.9%** | **Building Materials — 1.9%** | **Building Materials — 1.9%** |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC, 7.63%, <br> 08/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 37863 |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11382 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/35<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52532 |
| EMRLD Borrower LP/Emerald Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD440 | &nbsp;&nbsp; 455434 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD52 | &nbsp;&nbsp; 54556 |
| Jeld-Wen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD54 | &nbsp;&nbsp; 47455 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 13780 |
| New Enterprise Stone & Lime Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 35009 |
| &nbsp;&nbsp;&nbsp; 9.75%, 07/15/28<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD87 | &nbsp;&nbsp; 87435 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD234 | &nbsp;&nbsp; 242680 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD134 | &nbsp;&nbsp; 139208 |
| Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 59942 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD299 | &nbsp;&nbsp; 305625 |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31965 |
| Standard Industries, Inc./New York |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 31377 |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 28941 |
| Wilsonart LLC, 11.00%, 08/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 52978 |
|  |  | &nbsp;&nbsp; 1688162 |
| **Chemicals — 3.0%** | **Chemicals — 3.0%** | **Chemicals — 3.0%** |
| &nbsp;&nbsp;&nbsp; Advancion Sciences, Inc., 9.25%, 11/01/26, (9.25 <br> % PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD109 | &nbsp;&nbsp; 89229 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/33 | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 29376 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/31 | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 6137 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 45791 |
| Chemours Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 15852 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/15/27 | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 88581 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD223 | &nbsp;&nbsp; 221153 |
| Element Solutions, Inc., 3.88%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD177 | &nbsp;&nbsp; 172513 |
| Ingevity Corp., 3.88%, 11/01/28<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 39877 |
| Inversion Escrow Issuer LLC, 6.75%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 198099 |
| Mativ Holdings, Inc., 8.00%, 10/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27193 |
| &nbsp;&nbsp;&nbsp; Methanex U.S. Operations, Inc., 6.25%, <br> 03/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 34030 |
| Minerals Technologies, Inc., 5.00%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 35730 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; $205010 |
| &nbsp;&nbsp;&nbsp; Series 144\*, 7.25%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; 398444 |
| Perimeter Holdings LLC, 6.25%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD156 | &nbsp;&nbsp; 156006 |
| &nbsp;&nbsp;&nbsp; SK Invictus Intermediate II SARL, 5.00%, <br> 10/30/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 59040 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc., 5.63%, <br> 09/30/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD106 | &nbsp;&nbsp; 106560 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD339 | &nbsp;&nbsp; 323975 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD244 | &nbsp;&nbsp; 242652 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 68085 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD62 | &nbsp;&nbsp; 63286 |
|  |  | &nbsp;&nbsp; 2626619 |
| **Commercial Services — 6.6%** | **Commercial Services — 6.6%** | **Commercial Services — 6.6%** |
| ADT Security Corp. (The), 5.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD132 | &nbsp;&nbsp; 133814 |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 Sarl/Aggreko Holdings, Inc., <br> 7.00%, 05/21/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 208452 |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD607 | &nbsp;&nbsp; 638821 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; 396602 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD266 | &nbsp;&nbsp; 276243 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 Sarl, 4.63%, <br> 06/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 197294 |
| APi Group DE, Inc., 4.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD52 | &nbsp;&nbsp; 50570 |
| Belron U.K. Finance PLC, 5.75%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 203808 |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/01/26 | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 65609 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 61071 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 110320 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 | &nbsp;&nbsp;&nbsp; USD140 | &nbsp;&nbsp; 145454 |
| Brink's Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9285 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 89519 |
| Clarivate Science Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 64177 |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD191 | &nbsp;&nbsp; 164177 |
| Deluxe Corp., 8.13%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19937 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 62297 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD173 | &nbsp;&nbsp; 176783 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD355 | &nbsp;&nbsp; 364466 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 32227 |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 33167 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD63 | &nbsp;&nbsp; 66123 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD235 | &nbsp;&nbsp; 248703 |
| Hertz Corp. (The), 12.63%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 21138 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc., 7.88%, <br> 09/30/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD403 | &nbsp;&nbsp; 353437 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, 6.88%, <br> 11/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 43091 |
| RR Donnelley & Sons Co., 9.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD169 | &nbsp;&nbsp; 175878 |
| &nbsp;&nbsp;&nbsp; Sabre Financial Borrower LLC, 11.13%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD104 | &nbsp;&nbsp; 105181 |
| Service Corp. International/U.S. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/15/31 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 47581 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/15/32 | &nbsp;&nbsp;&nbsp; USD143 | &nbsp;&nbsp; 145268 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance <br> Sub, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; $120698 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD275 | &nbsp;&nbsp; 280553 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 199224 |
| Team Services Holding, Inc., 9.00%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18000 |
| &nbsp;&nbsp;&nbsp; United Rentals North America, Inc., 5.38%, <br> 11/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD149 | &nbsp;&nbsp; 148912 |
| Veritiv Operating Co., 10.50%, 11/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 22486 |
| Wand NewCo 3, Inc., 7.63%, 01/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD81 | &nbsp;&nbsp; 85167 |
| WEX, Inc., 6.50%, 03/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 77570 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 33156 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 40661 |
|  |  | &nbsp;&nbsp; 5736920 |
| **Computers — 0.7%** | **Computers — 0.7%** | **Computers — 0.7%** |
| Amentum Holdings, Inc., 7.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14753 |
| CACI International, Inc., 6.38%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 79890 |
| Fortress Intermediate 3, Inc., 7.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD267 | &nbsp;&nbsp; 271976 |
| Insight Enterprises, Inc., 6.63%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 28663 |
| KBR, Inc., 4.75%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 57258 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 33415 |
| Science Applications International Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 27929 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 48378 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte Ltd., <br> 5.88%, 07/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 57690 |
|  |  | &nbsp;&nbsp; 619952 |
| **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** | **Cosmetics & Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co., 6.13%, <br> 09/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD64 | &nbsp;&nbsp; 62946 |
| **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** | **Distribution & Wholesale — 0.1%** |
| Gates Corp./DE, 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 39502 |
| Resideo Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 39494 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27426 |
|  |  | &nbsp;&nbsp; 106422 |
| **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc., 6.00%, <br> 12/15/54, (5-year CMT + 2.17%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 55991 |
| Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 40846 |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 26311 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc., 8.38%, 06/15/35, <br> (5-year CMT + 4.30%)<sup>(a)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12317 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 47704 |
| &nbsp;&nbsp;&nbsp; 6.75%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14115 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, 6.75%, <br> 09/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD142 | &nbsp;&nbsp; 145370 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD62 | &nbsp;&nbsp; 61527 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 48120 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD144 | &nbsp;&nbsp; 152247 |
| &nbsp;&nbsp;&nbsp; 9.25%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 31406 |
| GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 43699 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 75525 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Global Aircraft Leasing Co. Ltd., 8.75%, <br> 09/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; $97614 |
| Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12222 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD84 | &nbsp;&nbsp; 87372 |
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust, 6.50%, <br> 05/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 200374 |
| Navient Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 06/15/32<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 44410 |
| &nbsp;&nbsp;&nbsp; 9.38%, 07/25/30 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11846 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/15/30 | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 64717 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/29 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24934 |
| &nbsp;&nbsp;&nbsp; 6.13%, 05/15/30 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16310 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/33 | &nbsp;&nbsp;&nbsp; USD194 | &nbsp;&nbsp; 194994 |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/29 | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 30923 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/32 | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 29639 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/33<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 151662 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/31 | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 32123 |
| &nbsp;&nbsp;&nbsp; 7.13%, 09/15/32<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 129450 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11532 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/15/30 | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 48524 |
| Osaic Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 71459 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 155535 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD117 | &nbsp;&nbsp; 118069 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD158 | &nbsp;&nbsp; 161469 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 43361 |
| Phoenix Aviation Capital Ltd., 9.25%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD246 | &nbsp;&nbsp; 257814 |
| Rocket Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD217 | &nbsp;&nbsp; 222167 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD240 | &nbsp;&nbsp; 248991 |
| Rocket Cos. Inc |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 75089 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD164 | &nbsp;&nbsp; 171378 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 48334 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 1877 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4591 |
| UWM Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD95 | &nbsp;&nbsp; 94400 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp; 117001 |
|  |  | &nbsp;&nbsp; 3735359 |
| **Electric — 2.9%** | **Electric — 2.9%** | **Electric — 2.9%** |
| &nbsp;&nbsp;&nbsp; AES Corp. (The), 7.60%, 01/15/55, (5-year CMT <br> + 3.20%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD52 | &nbsp;&nbsp; 52725 |
| Alpha Generation LLC, 6.75%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 46656 |
| Calpine Corp., 4.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 1998 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc., Series B, 6.85%, <br> 02/15/55, (5-year CMT + 2.95%)<sup>(b)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12728 |
| &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC, 3.75%, <br> 01/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 39577 |
| &nbsp;&nbsp;&nbsp; ContourGlobal Power Holdings SA, 6.75%, <br> 02/28/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 206256 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc., 6.63%, 05/15/55, (5-year <br> CMT + 2.21%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14394 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp., 6.45%, 09/01/54, (5-year <br> CMT + 2.59%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 21971 |
| Lightning Power LLC, 7.25%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 32996 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/55, (5-year CMT + 2.05%)<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; $39247 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/54, (5-year CMT + 2.46%)<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 21251 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD63 | &nbsp;&nbsp; 62762 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 122809 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD119 | &nbsp;&nbsp; 121283 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD448 | &nbsp;&nbsp; 452676 |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD147 | &nbsp;&nbsp; 150909 |
| &nbsp;&nbsp;&nbsp; 10.25%, (5-year CMT + 5.92%)<sup>(a)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 72682 |
| &nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy <br> Operations, Inc., 4.50%, 08/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 18817 |
| Talen Energy Supply LLC, 8.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13716 |
| TransAlta Corp., 5.88%, 02/01/34 | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 46037 |
| Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, (5-year CMT + 5.74%)<sup>(a)(b)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD179 | &nbsp;&nbsp; 181707 |
| &nbsp;&nbsp;&nbsp; 8.00%, (5-year CMT + 6.93%)<sup>(a)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27498 |
| Vistra Operations Co. LLC, 6.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD98 | &nbsp;&nbsp; 102972 |
| VoltaGrid LLC, 7.38%, 11/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD372 | &nbsp;&nbsp; 376766 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD175 | &nbsp;&nbsp; 178386 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD114 | &nbsp;&nbsp; 119748 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10491 |
|  |  | &nbsp;&nbsp; 2549058 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14578 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14628 |
|  |  | &nbsp;&nbsp; 29206 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Coherent Corp., 5.00%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD54 | &nbsp;&nbsp; 53777 |
| Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 47793 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 81160 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 208928 |
|  |  | &nbsp;&nbsp; 391658 |
| **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** | **Engineering & Construction — 0.4%** |
| AECOM, 6.00%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD130 | &nbsp;&nbsp; 133172 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 43253 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 8427 |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 10.38%, <br> 08/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD128 | &nbsp;&nbsp; 122719 |
| Dycom Industries, Inc., 4.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 20671 |
| &nbsp;&nbsp;&nbsp; Weekley Homes LLC/Weekley Finance Corp., <br> 6.75%, 01/15/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 37190 |
|  |  | &nbsp;&nbsp; 365432 |
| **Entertainment — 1.9%** | **Entertainment — 1.9%** | **Entertainment — 1.9%** |
| Boyne USA, Inc., 4.75%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39471 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD158 | &nbsp;&nbsp; 161559 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 38207 |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD161 | &nbsp;&nbsp; 161873 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD147 | &nbsp;&nbsp; 151459 |
| Cinemark USA, Inc., 7.00%, 08/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12417 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp./Raptor LLC, <br> 8.75%, 11/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 77285 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD80 | &nbsp;&nbsp; $81000 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18836 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13805 |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22993 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest Gaming <br> Finance Corp., 4.88%, 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17682 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 8.25%, <br> 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 63602 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp., 5.88%, <br> 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD95 | &nbsp;&nbsp; 60961 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC/Rivers <br> Enterprise Finance Corp., 6.63%, 02/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27482 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC / Rivers Enterprise <br> Lender Corp., 6.25%, 10/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 28424 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games <br> U.S. FinCo, Inc., 6.63%, 03/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 39238 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Canada's <br> Wonderland Co./Magnum Management Corp., <br> 5.38%, 04/15/27<br>| &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9001 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp/Canada's <br> Wonderland Co/Millennium Operations LLC, <br> 8.63%, 01/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25511 |
| Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31484 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 37309 |
| Voyager Parent LLC, 9.25%, 07/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 72238 |
| Warnermedia Holdings, Inc., 5.05%, 03/15/42 | &nbsp;&nbsp;&nbsp; USD397 | &nbsp;&nbsp; 278892 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 44131 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD158 | &nbsp;&nbsp; 160975 |
|  |  | &nbsp;&nbsp; 1675835 |
| **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; USD22 | &nbsp;&nbsp; 22527 |
| &nbsp;&nbsp;&nbsp; GFL Environmental Holdings U.S., Inc., 5.50%, <br> 02/01/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD128 | &nbsp;&nbsp; 128295 |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 49209 |
| &nbsp;&nbsp;&nbsp; 4.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 35263 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 1987 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 5231 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/30/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11856 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD161 | &nbsp;&nbsp; 160800 |
| Waste Pro USA, Inc., 7.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD440 | &nbsp;&nbsp; 452041 |
| Wrangler Holdco Corp., 6.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11446 |
|  |  | &nbsp;&nbsp; 878655 |
| **Food — 1.6%** | **Food — 1.6%** | **Food — 1.6%** |
| &nbsp;&nbsp;&nbsp; Albertsons Co, Inc./Safeway, Inc./New <br> Albertsons LP/Albertsons LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 33058 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/31/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD124 | &nbsp;&nbsp; 121951 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD118 | &nbsp;&nbsp; 120490 |
| Albertsons Companies, Inc., 5.63%, 03/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 31968 |
| B&G Foods, Inc., 8.00%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15100 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp; Chobani Holdco II LLC, 8.75%, 10/01/29, (8.75% <br> Cash or 9.50% PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD288 | &nbsp;&nbsp; $306782 |
| Chobani LLC/Chobani Finance Corp., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD59 | &nbsp;&nbsp; 58700 |
| &nbsp;&nbsp;&nbsp; 7.63%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD104 | &nbsp;&nbsp; 108165 |
| Darling Global Finance BV, 4.50%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 120961 |
| Fiesta Purchaser, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11313 |
| &nbsp;&nbsp;&nbsp; 9.63%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12139 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution, Inc., 9.00%, <br> 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 24099 |
| Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 01/31/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 25100 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 27629 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9792 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 41082 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 29368 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 47360 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 122110 |
| &nbsp;&nbsp;&nbsp; Simmons Foods, Inc./Simmons Prepared Foods, <br> Inc./Simmons Pet Food, Inc./Simmons Feed, <br> 4.63%, 03/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 18312 |
| U.S. Foods, Inc., 4.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 32868 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 47083 |
|  |  | &nbsp;&nbsp; 1365430 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| Aramark Services, Inc., 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 23987 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp; AltaGas Ltd., 7.20%, 10/15/54, (5-year CMT + <br> 3.57%)<sup>(a)(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 34321 |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., <br> 9.50%, 06/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 20364 |
|  |  | &nbsp;&nbsp; 54685 |
| **Health Care - Products — 0.9%** | **Health Care - Products — 0.9%** | **Health Care - Products — 0.9%** |
| Avantor Funding, Inc., 4.63%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 90300 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD195 | &nbsp;&nbsp; 203288 |
| Hologic, Inc., 3.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3 | &nbsp;&nbsp; 2989 |
| Insulet Corp., 6.50%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 29140 |
| Medline Borrower LP, 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD301 | &nbsp;&nbsp; 301520 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer, Inc., <br> 6.25%, 04/01/29<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 78440 |
| Neogen Food Safety Corp., 8.63%, 07/20/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 41576 |
|  |  | &nbsp;&nbsp; 747253 |
| **Health Care - Services — 2.5%** | **Health Care - Services — 2.5%** | **Health Care - Services — 2.5%** |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc., 7.38%, <br> 03/15/33<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14817 |
| AHP Health Partners, Inc., 5.75%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD98 | &nbsp;&nbsp; 95546 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 52029 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD228 | &nbsp;&nbsp; 214984 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD379 | &nbsp;&nbsp; 395139 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD54 | &nbsp;&nbsp; 58133 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc., 6.88%, <br> 07/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 60726 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11290 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; $2060 |
| Fortrea Holdings, Inc., 7.50%, 07/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20347 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 22666 |
| HealthEquity, Inc., 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD93 | &nbsp;&nbsp; 90652 |
| IQVIA, Inc., 6.25%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD102 | &nbsp;&nbsp; 105973 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD178 | &nbsp;&nbsp; 193413 |
| &nbsp;&nbsp;&nbsp; 10.00%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 60136 |
| &nbsp;&nbsp;&nbsp; 11.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10906 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17120 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 109659 |
| Option Care Health, Inc., 4.38%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 29358 |
| &nbsp;&nbsp;&nbsp; Prime Healthcare Services, Inc., 9.38%, <br> 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18743 |
| Sotera Health Holdings LLC, 7.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 35775 |
| Star Parent, Inc., 9.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 49607 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., 7.25%, <br> 04/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD321 | &nbsp;&nbsp; 323187 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 58655 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/31 | &nbsp;&nbsp;&nbsp; USD84 | &nbsp;&nbsp; 87247 |
| &nbsp;&nbsp;&nbsp; U.S. Acute Care Solutions LLC, 9.75%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 77337 |
|  |  | &nbsp;&nbsp; 2215505 |
| **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** | **Holding Companies - Diversified — 0.6%** |
| Apollo Debt Solutions BDC |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/30/30 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25192 |
| &nbsp;&nbsp;&nbsp; 6.55%, 03/15/32 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11352 |
| &nbsp;&nbsp;&nbsp; 6.70%, 07/29/31 | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14600 |
| Ares Strategic Income Fund |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 32118 |
| &nbsp;&nbsp;&nbsp; 5.80%, 09/09/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31100 |
| &nbsp;&nbsp;&nbsp; Bain Capital Specialty Finance, Inc., 5.95%, <br> 03/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10982 |
| Blue Owl Capital Corp., 6.20%, 07/15/30 | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 46419 |
| Blue Owl Capital Corp. II, 8.45%, 11/15/26 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11264 |
| &nbsp;&nbsp;&nbsp; Compass Group Diversified Holdings LLC, <br> 5.25%, 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 39343 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP/Icahn Enterprises <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/27 | &nbsp;&nbsp;&nbsp; USD214 | &nbsp;&nbsp; 211708 |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/29<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 58353 |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 49460 |
|  |  | &nbsp;&nbsp; 541891 |
| **Home Builders — 0.9%** | **Home Builders — 0.9%** | **Home Builders — 0.9%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods <br> Finance Co.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 37354 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 23205 |
| Beazer Homes USA, Inc., 5.88%, 10/15/27 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15938 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield <br> Residential U.S. LLC, 5.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 131693 |
| Century Communities, Inc., 6.63%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 33422 |
| Empire Communities Corp., 9.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12400 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc., 5.63%, <br> 02/01/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 48276 |
| K Hovnanian Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD170 | &nbsp;&nbsp; 174159 |
| &nbsp;&nbsp;&nbsp; 8.38%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD62 | &nbsp;&nbsp; 63364 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Builders (continued)** | **Home Builders (continued)** | **Home Builders (continued)** |
| LGI Homes, Inc., 7.00%, 11/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; $35111 |
| Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 25388 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14739 |
| New Home Co., Inc.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13541 |
| &nbsp;&nbsp;&nbsp; 9.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD81 | &nbsp;&nbsp; 85352 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 29444 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc., 5.75%, <br> 11/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 22581 |
|  |  | &nbsp;&nbsp; 765967 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc., 4.00%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 37836 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| Newell Brands, Inc., 8.50%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 24114 |
| Scotts Miracle-Gro Co. (The), 4.50%, 10/15/29<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17724 |
|  |  | &nbsp;&nbsp; 41838 |
| **Insurance — 6.0%** | **Insurance — 6.0%** | **Insurance — 6.0%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD155 | &nbsp;&nbsp; 153086 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD139 | &nbsp;&nbsp; 138560 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20057 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 30496 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD207 | &nbsp;&nbsp; 214609 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD208 | &nbsp;&nbsp; 215325 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17760 |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17443 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower, Inc. and Amynta <br> Warranty Borrower, Inc., 7.50%, 07/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD87 | &nbsp;&nbsp; 88703 |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset <br> Investor 2 LLC/APH3 Somerset Inves, 7.88%, <br> 11/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD87 | &nbsp;&nbsp; 88320 |
| Ardonagh Finco Ltd., 7.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD600 | &nbsp;&nbsp; 620267 |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finance Ltd., 8.88%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 206244 |
| Asurion LLC and Asurion Co-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 12/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD285 | &nbsp;&nbsp; 297769 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | &nbsp;&nbsp; 192082 |
| &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc., 6.38%, 09/15/54, <br> (5-year CMT + 2.65%)<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 38823 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. <br> Refinance 2 PLC/Howden U.S. Refinance LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 206854 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 203787 |
| HUB International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD465 | &nbsp;&nbsp; 485160 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD914 | &nbsp;&nbsp; 957420 |
| Jones Deslauriers Insurance Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD153 | &nbsp;&nbsp; 149134 |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 72146 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD554 | &nbsp;&nbsp; 570579 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17536 |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 48797 |
| USI, Inc./New York, 7.50%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD187 | &nbsp;&nbsp; 195765 |
|  |  | &nbsp;&nbsp; 5246722 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet — 2.4%** | **Internet — 2.4%** | **Internet — 2.4%** |
| Beignet Investor LLC, 6.58%, 05/30/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,497 | &nbsp;&nbsp; $1558701 |
| Getty Images, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 10.50%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40503 |
| &nbsp;&nbsp;&nbsp; 11.25%, 02/21/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 25958 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 11772 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 32047 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD85 | &nbsp;&nbsp; 85316 |
| Snap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD160 | &nbsp;&nbsp; 164185 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD177 | &nbsp;&nbsp; 180739 |
|  |  | &nbsp;&nbsp; 2099221 |
| **Iron & Steel — 0.5%** | **Iron & Steel — 0.5%** | **Iron & Steel — 0.5%** |
| &nbsp;&nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., 6.63%, <br> 01/31/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD112 | &nbsp;&nbsp; 113039 |
| Carpenter Technology Corp., 5.63%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 60886 |
| Cleveland-Cliffs, Inc., 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD70 | &nbsp;&nbsp; 72745 |
| Commercial Metals Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 70152 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/15/35<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD96 | &nbsp;&nbsp; 98084 |
|  |  | &nbsp;&nbsp; 414906 |
| **Leisure Time — 1.2%** | **Leisure Time — 1.2%** | **Leisure Time — 1.2%** |
| Acushnet Co., 5.63%, 12/01/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 23216 |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 62649 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 35145 |
| &nbsp;&nbsp;&nbsp; 6.13%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD109 | &nbsp;&nbsp; 112129 |
| Carnival PLC, 4.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 120608 |
| Lindblad Expeditions LLC, 7.00%, 09/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 59504 |
| MajorDrive Holdings IV LLC, 6.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 37006 |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 8022 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD229 | &nbsp;&nbsp; 230265 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 58414 |
| Sabre GLBL, Inc., 10.75%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 22470 |
| Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD147 | &nbsp;&nbsp; 149027 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 77860 |
| &nbsp;&nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., 5.63%, <br> 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17001 |
|  |  | &nbsp;&nbsp; 1013316 |
| **Lodging — 1.0%** | **Lodging — 1.0%** | **Lodging — 1.0%** |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 77371 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9169 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 48228 |
| &nbsp;&nbsp;&nbsp; 6.13%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 23757 |
| Melco Resorts Finance Ltd., 5.38%, 12/04/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 197840 |
| MGM Resorts International, 6.13%, 09/15/29 | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 52163 |
| Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 35836 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD54 | &nbsp;&nbsp; 55233 |
| Wynn Macau Ltd., 5.63%, 08/26/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD392 | &nbsp;&nbsp; 391290 |
|  |  | &nbsp;&nbsp; 890887 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| ATS Corp., 4.13%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 38050 |
| Chart Industries, Inc., 7.50%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 29133 |
| &nbsp;&nbsp;&nbsp; Columbus McKinnon Corp/NY, 7.13%, <br> 02/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 46239 |
| CompoSecure Holdings LLC, 5.63%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD189 | &nbsp;&nbsp; 188395 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Esab Corp., 6.25%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; $24661 |
| Lsf12 Helix Parent LLC, 7.13%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 86252 |
| Manitowoc Co., Inc. (The), 9.25%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 20636 |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 7975 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 73722 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc., 5.25%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD375 | &nbsp;&nbsp; 375109 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 41360 |
|  |  | &nbsp;&nbsp; 931532 |
| **Manufacturing — 0.1%** | **Manufacturing — 0.1%** | **Manufacturing — 0.1%** |
| Amsted Industries, Inc., 6.38%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19664 |
| Avient Corp., 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25703 |
| Axon Enterprise, Inc., 6.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16578 |
| Enpro, Inc., 6.13%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25707 |
|  |  | &nbsp;&nbsp; 87652 |
| **Media — 3.9%** | **Media — 3.9%** | **Media — 3.9%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD235 | &nbsp;&nbsp; 215153 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD214 | &nbsp;&nbsp; 180764 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 24229 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 62998 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD140 | &nbsp;&nbsp; 133742 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 69417 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19182 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 68657 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/01/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD215 | &nbsp;&nbsp; 215258 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD213 | &nbsp;&nbsp; 188003 |
| &nbsp;&nbsp;&nbsp; 11.25%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 160297 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD182 | &nbsp;&nbsp; 184277 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD67 | &nbsp;&nbsp; 67326 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD82 | &nbsp;&nbsp; 84467 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD162 | &nbsp;&nbsp; 157442 |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD176 | &nbsp;&nbsp; 170320 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD282 | &nbsp;&nbsp; 291858 |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 08/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD153 | &nbsp;&nbsp; 156637 |
| &nbsp;&nbsp;&nbsp; 9.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 104126 |
| Gray Television, Inc., 10.50%, 07/15/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12889 |
| &nbsp;&nbsp;&nbsp; Midcontinent Communications, 8.00%, <br> 08/15/32<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 21168 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc., 8.13%, <br> 02/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD151 | &nbsp;&nbsp; 156197 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 09/01/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 70573 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24421 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 55903 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD240 | &nbsp;&nbsp; 247679 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 91771 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD144 | &nbsp;&nbsp; 155039 |
| Versant Media Group, Inc., 7.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27669 |
|  |  | &nbsp;&nbsp; 3417462 |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc., 6.38%, <br> 06/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15337 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining — 2.2%** | **Mining — 2.2%** | **Mining — 2.2%** |
| Arsenal AIC Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; $26476 |
| &nbsp;&nbsp;&nbsp; 11.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD242 | &nbsp;&nbsp; 266663 |
| Constellium SE, 6.38%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD250 | &nbsp;&nbsp; 258536 |
| ERO Copper Corp., 6.50%, 02/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD165 | &nbsp;&nbsp; 166287 |
| First Quantum Minerals Ltd., 9.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 209750 |
| Kaiser Aluminum Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD133 | &nbsp;&nbsp; 128395 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD237 | &nbsp;&nbsp; 238762 |
| New Gold, Inc., 6.88%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 95618 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD129 | &nbsp;&nbsp; 118044 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11625 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD320 | &nbsp;&nbsp; 325963 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 60114 |
|  |  | &nbsp;&nbsp; 1906233 |
| **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** | **Office & Business Equipment — 0.1%** |
| GROUP LABL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/28 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 9180 |
| &nbsp;&nbsp;&nbsp; 8.63%, 10/01/31 | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 14280 |
| Zebra Technologies Corp., 6.50%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 36051 |
|  |  | &nbsp;&nbsp; 59511 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance <br> Corp., 7.50%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 49458 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15102 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 26923 |
| Caturus Energy LLC, 8.50%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD185 | &nbsp;&nbsp; 192887 |
| Chord Energy Corp., 6.75%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18660 |
| CITGO Petroleum Corp., 8.38%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD113 | &nbsp;&nbsp; 117438 |
| Civitas Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12352 |
| &nbsp;&nbsp;&nbsp; 8.75%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 30460 |
| CNX Resources Corp., 7.25%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13601 |
| Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD67 | &nbsp;&nbsp; 65372 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD188 | &nbsp;&nbsp; 188845 |
| Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD120 | &nbsp;&nbsp; 119026 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 58549 |
| &nbsp;&nbsp;&nbsp; 9.75%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD59 | &nbsp;&nbsp; 62748 |
| CVR Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 27941 |
| &nbsp;&nbsp;&nbsp; 7.88%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19838 |
| DBR Land Holdings LLC, 6.25%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 37902 |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co./Diamond <br> Finance LLC, 8.50%, 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 27647 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Operating Corp., 6.75%, <br> 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 22688 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 42010 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1 | &nbsp;&nbsp; 959 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 20238 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/35<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22256 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD84 | &nbsp;&nbsp; 87211 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil <br> & Gas Finance Corp., 6.88%, 12/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 21807 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; $51931 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 26566 |
| Nabors Industries, Inc., 7.63%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27505 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9382 |
| Northern Oil & Gas, Inc., 7.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 71683 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp., <br> 7.88%, 09/15/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 35047 |
| Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17057 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD82 | &nbsp;&nbsp; 84472 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 41932 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24147 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24064 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27697 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31971 |
| &nbsp;&nbsp;&nbsp; 7.88%, , (5-year CMT + 4.23%)<sup>(a)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD399 | &nbsp;&nbsp; 410982 |
| &nbsp;&nbsp;&nbsp; TGNR Intermediate Holdings LLC, 5.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 47499 |
| Transocean International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 39029 |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20377 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 45805 |
| &nbsp;&nbsp;&nbsp; 8.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 37528 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd., 8.38%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 2477 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 34482 |
| Vital Energy, Inc., 7.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39797 |
| &nbsp;&nbsp;&nbsp; Wildfire Intermediate Holdings LLC, 7.50%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD92 | &nbsp;&nbsp; 93268 |
|  |  | &nbsp;&nbsp; 2546616 |
| **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** | **Oil & Gas Services — 1.3%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD67 | &nbsp;&nbsp; 66950 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD92 | &nbsp;&nbsp; 92232 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD123 | &nbsp;&nbsp; 127501 |
| Enerflex, Inc., 6.88%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 21703 |
| Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD98 | &nbsp;&nbsp; 100380 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/01/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD133 | &nbsp;&nbsp; 137426 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 93349 |
| Oceaneering International, Inc., 6.00%, 02/01/28 | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27434 |
| Tidewater, Inc., 9.13%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 36777 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA <br> Compression Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD201 | &nbsp;&nbsp; 203612 |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 79727 |
| &nbsp;&nbsp;&nbsp; Weatherford International Ltd., 6.75%, <br> 10/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD175 | &nbsp;&nbsp; 181253 |
|  |  | &nbsp;&nbsp; 1168344 |
| **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** |
| Ardagh Group SA |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD158 | &nbsp;&nbsp; 171002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 12/01/30, (5.50 % Cash and 6.50 % <br> PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 189000 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance <br> USA LLC/Ardagh Metal Packaging Finance <br> PLC, 4.00%, 09/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD349 | &nbsp;&nbsp; 331516 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| Ball Corp., 5.50%, 09/15/33 | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; $27443 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 28247 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD238 | &nbsp;&nbsp; 239857 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD143 | &nbsp;&nbsp; 144859 |
| Crown Americas LLC, 5.88%, 06/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 87963 |
| Group Multi Color LABL, Inc., 9.50%, 11/01/28 | &nbsp;&nbsp;&nbsp; USD93 | &nbsp;&nbsp; 47430 |
| Mauser Packaging Solut, 9.25%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 44267 |
| Mauser Packaging Solut SR, 7.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD602 | &nbsp;&nbsp; 613288 |
| Sealed Air Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11954 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10381 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 6248 |
| Silgan Holdings, Inc., 4.25%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 119788 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV, 8.25%, <br> 07/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD180 | &nbsp;&nbsp; 192073 |
|  |  | &nbsp;&nbsp; 2265316 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |
| 1261229 BC Ltd., 10.00%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD800 | &nbsp;&nbsp; 821006 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 6.88%, <br> 08/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 30536 |
| Bausch Health Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 25900 |
| &nbsp;&nbsp;&nbsp; 11.00%, 09/30/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD363 | &nbsp;&nbsp; 377367 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, <br> 3.15%, 10/01/26<br>| &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 106210 |
|  |  | &nbsp;&nbsp; 1361019 |
| **Pipelines — 3.6%** | **Pipelines — 3.6%** | **Pipelines — 3.6%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp., 6.63%, 02/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 41552 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance <br> Corp., 7.00%, 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD59 | &nbsp;&nbsp; 61483 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.60%, 10/15/44 | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 25350 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10478 |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 5198 |
| CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22346 |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC, <br> 5.50%, 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | &nbsp;&nbsp; 248605 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics <br> Finance Corp., 7.38%, 06/30/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 49360 |
| Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.20%, 06/27/54, (5-year CMT + 2.97%)<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 29842 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/15/55, (5-year CMT + 3.12%)<sup>(b)(e)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 33989 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 10/01/54, (5-year CMT + 2.83%)<sup>(b)(e)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 46501 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/54, (5-year CMT + 4.02%)<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 64116 |
| &nbsp;&nbsp;&nbsp; Series G, 7.13%, (5-year CMT + 5.31%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 59907 |
| &nbsp;&nbsp;&nbsp; Series H, 6.50%, (5-year CMT + 5.69%)<sup>(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD63 | &nbsp;&nbsp; 63291 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy Finance <br> Corp., 8.00%, 05/15/33<br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10437 |
| &nbsp;&nbsp;&nbsp; Global Partners LP/GLP Finance Corp., 7.13%, <br> 07/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19462 |
| Harvest Midstream I LP, 7.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18801 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 18559 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 40365 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD78 | &nbsp;&nbsp; 80059 |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14788 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD144 | &nbsp;&nbsp; $138829 |
| Kinetik Holdings LP, 5.88%, 06/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15179 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD84 | &nbsp;&nbsp; 87169 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD133 | &nbsp;&nbsp; 139206 |
| &nbsp;&nbsp;&nbsp; Northriver Midstream Finance LP, 6.75%, <br> 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27470 |
| Prairie Acquiror LP, 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 33190 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22992 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD160 | &nbsp;&nbsp; 165868 |
| &nbsp;&nbsp;&nbsp; TransMontaigne Partners LLC, 8.50%, <br> 06/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16599 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4 | &nbsp;&nbsp; 4025 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD105 | &nbsp;&nbsp; 107396 |
| &nbsp;&nbsp;&nbsp; 9.00%, (5-year CMT + 5.44%)<sup>(a)(b)(d)(e)</sup> | &nbsp;&nbsp;&nbsp; USD310 | &nbsp;&nbsp; 272714 |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD216 | &nbsp;&nbsp; 230012 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp; 122646 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD147 | &nbsp;&nbsp; 151307 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD138 | &nbsp;&nbsp; 143216 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD378 | &nbsp;&nbsp; 396242 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD55 | &nbsp;&nbsp; 60300 |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/01/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 64676 |
|  |  | &nbsp;&nbsp; 3163525 |
| **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Anywhere <br> Co-Issuer Corp., 7.00%, 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31411 |
| &nbsp;&nbsp;&nbsp; Anywhere Real Estate Group LLC/Realogy <br> Co-Issuer Corp., 9.75%, 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 22921 |
| CoreLogic, Inc., 4.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD257 | &nbsp;&nbsp; 252200 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, <br> 8.88%, 09/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 44762 |
| Five Point Operating Co. LP, 8.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 34298 |
| Howard Hughes Corp. (The), 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 33147 |
|  |  | &nbsp;&nbsp; 418739 |
| **Real Estate Investment Trusts — 2.4%** | **Real Estate Investment Trusts — 2.4%** | **Real Estate Investment Trusts — 2.4%** |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc., 3.75%, <br> 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 43417 |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc./BPR <br> Cumulus LLC/BPR Nimbus LLC/GGSI <br> Sellco LLC, 4.50%, 04/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD53 | &nbsp;&nbsp; 52331 |
| Diversified Healthcare Trust, 7.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 26779 |
| &nbsp;&nbsp;&nbsp; Iron Mountain Information Management <br> Services, Inc., 5.00%, 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 21997 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 115656 |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 6931 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD106 | &nbsp;&nbsp; 104672 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 8084 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD178 | &nbsp;&nbsp; 180008 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD106 | &nbsp;&nbsp; 108193 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance <br> Corp., 8.50%, 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD287 | &nbsp;&nbsp; 307479 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer, 7.00%, <br> 02/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; $48423 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP/PEB Finance Corp., <br> 6.38%, 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18402 |
| RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17739 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 46537 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD248 | &nbsp;&nbsp; 257075 |
| RLJ Lodging Trust, 4.00%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 18979 |
| SBA Communications Corp., 3.13%, 02/01/29 | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 41070 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 09/30/27<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD114 | &nbsp;&nbsp; 103200 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD318 | &nbsp;&nbsp; 333989 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 85361 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24669 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18745 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 76025 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 31639 |
| XHR LP, 6.63%, 05/15/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18590 |
|  |  | &nbsp;&nbsp; 2115990 |
| **Retail — 2.0%** | **Retail — 2.0%** | **Retail — 2.0%** |
| Advance Auto Parts, Inc., 7.00%, 08/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 27458 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc., 5.00%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22351 |
| Boots Group Finco LP, 5.38%, 08/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 122434 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands International, <br> Inc.)/New Red Finance, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 41027 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11929 |
| Carvana Co. |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 06/01/31, (9 % Cash)<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD361 | &nbsp;&nbsp; 397083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.00%, 06/01/30, (11.00% PIK or 13.00% <br> Cash)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD129 | &nbsp;&nbsp; 134886 |
| Cougar JV Subsidiary LLC, 8.00%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 39539 |
| &nbsp;&nbsp;&nbsp; Ferrellgas LP/Ferrellgas Finance Corp., 9.25%, <br> 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 36180 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co., Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 49323 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 30261 |
| Group 1 Automotive, Inc., 6.38%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24637 |
| LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16752 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 26336 |
| Lithia Motors, Inc., 5.50%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 33147 |
| QXO Building Products, Inc., 6.75%, 04/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD233 | &nbsp;&nbsp; 240102 |
| Staples, Inc., 10.75%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 35375 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban <br> Energy Finance Corp., 5.00%, 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 34576 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 7.38%, <br> 11/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD434 | &nbsp;&nbsp; 450788 |
|  |  | &nbsp;&nbsp; 1774184 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| Amkor Technology, Inc., 5.88%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15287 |
| **Software — 3.1%** | **Software — 3.1%** | **Software — 3.1%** |
| AthenaHealth Group, Inc., 6.50%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD703 | &nbsp;&nbsp; 681800 |
| Capstone Borrower, Inc., 8.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD179 | &nbsp;&nbsp; 170274 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Central Parent LLC/CDK Global II LLC/CDK <br> Financing Co., Inc., 8.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; $10880 |
| &nbsp;&nbsp;&nbsp; Central Parent, Inc./CDK Global, Inc., 7.25%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD102 | &nbsp;&nbsp; 78162 |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD179 | &nbsp;&nbsp; 177884 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 37632 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD494 | &nbsp;&nbsp; 498827 |
| CoreWeave, Inc., 9.25%, 06/01/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 89580 |
| Elastic NV, 4.13%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 46112 |
| Electronic Arts, Inc., 2.95%, 02/15/51 | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 29718 |
| Ellucian Holdings, Inc., 6.50%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 74788 |
| Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 59006 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD218 | &nbsp;&nbsp; 222128 |
| Oracle Corp., 5.20%, 09/26/35 | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 102924 |
| Playtika Holding Corp., 4.25%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 15634 |
| SS&C Technologies, Inc., 6.50%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD67 | &nbsp;&nbsp; 69172 |
| Twilio, Inc., 3.63%, 03/15/29 | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 46922 |
| UKG, Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD263 | &nbsp;&nbsp; 262788 |
|  |  | &nbsp;&nbsp; 2674231 |
| **Telecommunications — 7.2%** | **Telecommunications — 7.2%** | **Telecommunications — 7.2%** |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 18332 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD258 | &nbsp;&nbsp; 252473 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 12941 |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD201 | &nbsp;&nbsp; 196323 |
| APLD ComputeCo LLC, 9.25%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD53 | &nbsp;&nbsp; 55053 |
| Cipher Compute LLC, 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD177 | &nbsp;&nbsp; 182383 |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., 8.63%, <br> 08/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 207964 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 11/30/30, (6.75 % Cash)<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD594 | &nbsp;&nbsp; 604591 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 | &nbsp;&nbsp;&nbsp; USD155 | &nbsp;&nbsp; 169847 |
| Fibercop SpA, Series 2034, 6.00%, 09/30/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 194218 |
| Flash Compute LLC, 7.25%, 12/31/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD209 | &nbsp;&nbsp; 209709 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD132 | &nbsp;&nbsp; 132004 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 51046 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 66579 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 31109 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD140 | &nbsp;&nbsp; 146369 |
| &nbsp;&nbsp;&nbsp; 8.75%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD180 | &nbsp;&nbsp; 185614 |
| Iliad Holding SAS, 7.00%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 204992 |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 15770 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD445 | &nbsp;&nbsp; 458658 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD533 | &nbsp;&nbsp; 552084 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD430 | &nbsp;&nbsp; 440206 |
| Lumen Technologies, Inc., 10.00%, 10/15/32<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 59719 |
| &nbsp;&nbsp;&nbsp; Sable International Finance Ltd., 7.13%, <br> 10/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 202574 |
| Telecom Italia Capital SA, 7.72%, 06/04/38 | &nbsp;&nbsp;&nbsp; USD93 | &nbsp;&nbsp; 103902 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, <br> Inc./CSL Capital LLC, Series Feb, 8.63%, <br> 06/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 137020 |
| Viavi Solutions, Inc., 3.75%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD52 | &nbsp;&nbsp; 49425 |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 180939 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 182751 |
| Windstream Services LLC, 7.50%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD95 | &nbsp;&nbsp; 98083 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow <br> Finance Corp., 8.25%, 10/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD403 | &nbsp;&nbsp; $422153 |
| WULF Compute LLC, 7.75%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD288 | &nbsp;&nbsp; 300390 |
| Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 03/09/30, (9.25 % Cash)<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD176 | &nbsp;&nbsp; 171799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.75%, 09/09/30, (7.13% Cash and 1.88% <br> PIK)<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 39643 |
|  |  | &nbsp;&nbsp; 6336663 |
| **Transportation — 0.2%** | **Transportation — 0.2%** | **Transportation — 0.2%** |
| Genesee & Wyoming, Inc., 6.25%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 61768 |
| Rand Parent LLC, 8.50%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 40755 |
| Stonepeak Nile Parent LLC, 7.25%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10564 |
| &nbsp;&nbsp;&nbsp; Watco Companies LLC/Watco Finance Corp., <br> 7.13%, 08/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 37739 |
|  |  | &nbsp;&nbsp; 150826 |
| **Trucking & Leasing — 0.9%** | **Trucking & Leasing — 0.9%** | **Trucking & Leasing — 0.9%** |
| FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 58056 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD280 | &nbsp;&nbsp; 283886 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD161 | &nbsp;&nbsp; 169399 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD135 | &nbsp;&nbsp; 142079 |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD99 | &nbsp;&nbsp; 104970 |
|  |  | &nbsp;&nbsp; 758390 |
| **Total Corporate Bonds & Notes — 85.9%** <br>**(Cost: $73,805,364)** | **Total Corporate Bonds & Notes — 85.9%** <br>**(Cost: $73,805,364)** | &nbsp;&nbsp; 75102511 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Computers — 0.7%** | **Computers — 0.7%** | **Computers — 0.7%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Term Loan B, 7.75%, <br> 12/09/31<br>| &nbsp;&nbsp;&nbsp; 199 | &nbsp;&nbsp; 194990 |
| X Corp., 2025 Term Loan, 9.50%, 10/26/29 | &nbsp;&nbsp;&nbsp; 356 | &nbsp;&nbsp; 367498 |
|  |  | &nbsp;&nbsp; 562488 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cotiviti, Inc., 2024 Term Loan B, 7.63%, <br> 05/01/31<br>| &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; 188139 |
| **Total Fixed Rate Loan Interests — 0.9%** <br>**(Cost: $764,716)** | **Total Fixed Rate Loan Interests — 0.9%** <br>**(Cost: $764,716)** | &nbsp;&nbsp; 750627 |
| **Floating Rate Loan Interests** | **Floating Rate Loan Interests** | **Floating Rate Loan Interests** |
| **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc., 2024 <br> Term Loan, (1-mo. CME Term SOFR at 0.00% <br> Floor + 4.00%), 7.79%, 08/23/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $104 | &nbsp;&nbsp; 103693 |
| &nbsp;&nbsp;&nbsp; CMG Media Corp., 2024 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.50%), 7.27%, <br> 06/18/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp; 56798 |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2026 USD Term Loan B, 01/28/33<sup>(e)(g)</sup> | &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 36383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 USD Term Loan B, (3-mo. CME Term <br> SOFR + 5.00%), 8.77%, 04/11/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 48751 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B Sarl, 2024 USD Term <br> Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 5.00%), 8.93%, 02/15/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; 21905 |
|  |  | &nbsp;&nbsp; 267530 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| Kaman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.50%), <br> 6.15%, 02/26/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $0 <br><sup>(h)</sup><br>| &nbsp;&nbsp; $423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR <br> at 0.50% Floor + 2.50%), 6.36%, <br> 02/26/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 43938 |
| &nbsp;&nbsp;&nbsp; Propulsion (BC) Finco S.a.r.l., 2025 Repriced <br> Term Loan B, (3-mo. CME Term SOFR at <br> 0.50% Floor + 2.50%), 6.17%, 12/01/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 34802 |
|  |  | &nbsp;&nbsp; 79163 |
| **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** | **Auto Parts & Equipment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 2025 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.42%, 01/28/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 53882 |
| Tenneco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan A, (3-mo. CME Term SOFR <br> at 0.50% Floor + 4.75%), 8.74%, <br> 11/17/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 4130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B, (3-mo. CME Term SOFR + <br> 5.00%), 8.99%, 11/17/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 71788 |
|  |  | &nbsp;&nbsp; 129800 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.42%, 09/08/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 8066 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 5.25%), <br> 8.92%, 07/08/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 16627 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.25%), 7.92%, <br> 08/05/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp; 22647 |
|  |  | &nbsp;&nbsp; 47340 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| &nbsp;&nbsp;&nbsp; Advancion Holdings LLC, 2020 2nd Lien Term <br> Loan, (1-mo. CME Term SOFR + 7.75%), <br> 11.52%, 11/24/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 25955 |
| &nbsp;&nbsp;&nbsp; Aruba Investments Holdings LLC, 2020 USD <br> Term Loan, (1-mo. CME Term SOFR + <br> 4.00%), 7.77%, 11/24/27<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 9261 |
| &nbsp;&nbsp;&nbsp; Discovery Purchaser Corp., Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), <br> 7.42%, 10/04/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp; 105617 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.75% Floor + 3.93%), <br> 7.70%, 07/03/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 36236 |
| &nbsp;&nbsp;&nbsp; Olympus Water U.S. Holding Corp., 2025 USD <br> Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 6.92%, 11/03/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp; 74702 |
| &nbsp;&nbsp;&nbsp; Oxea Holding Drei GmbH, 2017 USD Term Loan <br> B2, (3-mo. CME Term SOFR at 0.00% Floor + <br> 4.25%), 8.00%, 04/08/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 6741 |
| &nbsp;&nbsp;&nbsp; WR Grace Holdings LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + <br> 3.00%), 6.67%, 08/19/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 24823 |
|  |  | &nbsp;&nbsp; 283335 |
| **Commercial Mbs — 0.0%** | **Commercial Mbs — 0.0%** | **Commercial Mbs — 0.0%** |
| &nbsp;&nbsp;&nbsp; Parexel International Corp., 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.75%), 6.42%, 12/12/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp; 34037 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services — 0.3%** | **Commercial Services — 0.3%** | **Commercial Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, 2025 USD Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), <br> 5.67%, 08/12/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $12 | &nbsp;&nbsp; $11572 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 2025 USD Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.25%), 6.92%, 08/20/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 73374 |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2025 Incremental <br> Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 6.92%, 01/31/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 36178 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc., 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 4.75%), 8.57%, 02/23/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 38667 |
| &nbsp;&nbsp;&nbsp; Galaxy U.S. Opco, Inc., Term Loan, (3-mo. CME <br> Term SOFR + 5.75% and 3.75% PIK), <br> 13.17%, 07/31/30<sup>(c)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 56699 |
| Jupiter Buyer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Delayed Draw Term Loan B, <br> 11/01/31<sup>(e)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 4.25%), 7.92%, <br> 11/01/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 9368 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3, Inc., 2025 Repriced Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.17%, 01/30/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp; 50753 |
|  |  | &nbsp;&nbsp; 277700 |
| **Computers — 0.0%** | **Computers — 0.0%** | **Computers — 0.0%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings Inc, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.00%), 5.67%, 09/29/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 7527 |
| Cubic Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan C, (3-mo. CME <br> Term SOFR at 0.75% Floor + 1.00%), <br> 4.93%, 05/25/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 1935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Second Out Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.25%), <br> 8.18%, 05/25/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 13335 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc., 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.00%), 6.67%, 06/27/31<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 5018 |
|  |  | &nbsp;&nbsp; 27815 |
| **Cosmetics & Personal Care — 0.0%** | **Cosmetics & Personal Care — 0.0%** | **Cosmetics & Personal Care — 0.0%** |
| &nbsp;&nbsp;&nbsp; ACP Tara Holdings, Inc., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 3.25%), 6.97%, 12/15/32<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 17064 |
| **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** | **Diversified Financial Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Orion U.S. Finco, Inc., 1st Lien Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 3.50%), 7.15%, 10/08/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 12992 |
| &nbsp;&nbsp;&nbsp; Summit Acquisition, Inc., 2025 Add-on Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor <br> + 3.50%), 7.17%, 10/16/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 19954 |
|  |  | &nbsp;&nbsp; 32946 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| &nbsp;&nbsp;&nbsp; LSF12 Crown U.S. Commercial Bidco LLC, 2026 <br> Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 6.68%, 12/02/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 45673 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp; LSF12 Helix Parent LLC, USD Term Loan B, <br> 01/21/33<sup>(e)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp; 79700 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp; Pinnacle Buyer LLC, Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.16%, <br> 10/01/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $23 | &nbsp;&nbsp; $22952 |
| &nbsp;&nbsp;&nbsp; Resilience Parent LLC, 1st Lien Term Loan, <br> 01/21/33<sup>(e)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 58926 |
|  |  | &nbsp;&nbsp; 161578 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services, Inc., 2024 Term Loan <br> B, (3-mo. CME Term SOFR at 0.50% Floor + <br> 4.50%), 8.35%, 08/01/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 8522 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; City Football Group Ltd., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.01%, 07/22/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 32166 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 2024 Term Loan <br> B, (3-mo. CME Term SOFR at 0.00% Floor + <br> 4.75%), 8.44%, 11/01/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 14947 |
|  |  | &nbsp;&nbsp; 47113 |
| **Health Care - Products — 0.2%** | **Health Care - Products — 0.2%** | **Health Care - Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hologic, Inc., 2026 USD Term Loan B, <br> 01/14/33<sup>(e)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp; 137941 |
| **Health Care - Services — 0.4%** | **Health Care - Services — 0.4%** | **Health Care - Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp., 2025 Repriced Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor <br> + 3.75%), 7.42%, 01/15/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp; 133919 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Incremental Term Loan B1, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.50%), <br> 7.15%, 05/19/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 54154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.75%), 7.42%, <br> 05/19/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp; 79863 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc., Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.00%), 7.67%, <br> 09/27/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 70727 |
|  |  | &nbsp;&nbsp; 338663 |
| **Holding Companies - Diversified — 0.0%** | **Holding Companies - Diversified — 0.0%** | **Holding Companies - Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco, Inc., 2025 Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.42%, 07/30/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 6963 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| &nbsp;&nbsp;&nbsp; Hunter Douglas, Inc., 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + <br> 3.00%), 6.67%, 01/20/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 9240 |
| &nbsp;&nbsp;&nbsp; Springs Windows Fashion LLC, 2024 FLFO <br> Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 1.00% Floor + 4.50%), 8.17%, <br> 12/19/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 11392 |
| &nbsp;&nbsp;&nbsp; SWF Holdings I Corp., 2024 FLFO A1 Term <br> Loan, (1-mo. CME Term SOFR at 1.00% Floor <br> + 4.50%), 8.17%, 12/19/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 5696 |
|  |  | &nbsp;&nbsp; 26328 |
| **Insurance — 0.2%** | **Insurance — 0.2%** | **Insurance — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty Ltd, 2024 USD Term <br> Loan B, (6-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 6.37%, 02/15/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 70607 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; Asurion LLC, 2025 Term Loan B13, (1-mo. CME <br> Term SOFR at 0.00% Floor + 4.25%), 7.92%, <br> 09/19/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $25 | &nbsp;&nbsp; $24761 |
| &nbsp;&nbsp;&nbsp; CRC Insurance Group LLC, 2nd Lien Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 4.75%), 8.42%, 05/06/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29976 |
| &nbsp;&nbsp;&nbsp; Hyperion Insurance Group Ltd., 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.75%), 6.42%, 04/18/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 4968 |
| &nbsp;&nbsp;&nbsp; Jones DesLauriers Insurance Management, Inc., <br> 2026 Repriced Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 6.66%, <br> 02/02/33<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 44405 |
| &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, 2025 Repriced Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor <br> + 3.00%), 6.67%, 07/02/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 6941 |
|  |  | &nbsp;&nbsp; 181658 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2023 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 4.25%), 7.92%, <br> 05/03/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 9192 |
| &nbsp;&nbsp;&nbsp; Proofpoint, Inc., 2025 Repriced Term Loan, <br> (3-mo. CME Term SOFR at 0.50% Floor + <br> 3.00%), 6.67%, 08/31/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 8904 |
| &nbsp;&nbsp;&nbsp; StubHub Holdco Sub LLC, 2024 Extended Term <br> Loan B, (1-mo. CME Term SOFR + 4.75%), <br> 8.42%, 03/15/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp; 25563 |
|  |  | &nbsp;&nbsp; 43659 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Sabre GLBL, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR <br> at 0.50% Floor + 6.00%), 9.77%, <br> 11/15/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 7065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR <br> at 0.50% Floor + 6.00%), 9.77%, <br> 11/15/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 3853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 11th Amendment Term Loan B2, (1-mo. <br> CME Term SOFR at 0.50% Floor + 6.25%), <br> 10.02%, 07/30/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 4234 |
|  |  | &nbsp;&nbsp; 15152 |
| **Machinery — 0.0%** | **Machinery — 0.0%** | **Machinery — 0.0%** |
| &nbsp;&nbsp;&nbsp; Arcline FM Holdings LLC, 2025 1st Lien Term <br> Loan, (3-mo. CME Term SOFR at 0.75% Floor <br> + 2.75%), 6.42%, 06/23/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 7010 |
| **Manufacturing — 0.1%** | **Manufacturing — 0.1%** | **Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp; CompoSecure Holdings LLC, Term Loan, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), <br> 5.93%, 01/14/33<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59813 |
| &nbsp;&nbsp;&nbsp; Potters Industries, LLC, 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.17%, 12/23/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 19969 |
|  |  | &nbsp;&nbsp; 79782 |
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| &nbsp;&nbsp;&nbsp; Coral-US Co-Borrower LLC, 2025 Term Loan B7, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 3.25%), 6.92%, 01/31/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 34261 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, 2019 Term Loan B5, (Prime <br> + 1.50%), 8.25%, 04/15/27<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 47095 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.75% Floor + <br> 5.50%), 9.17%, 02/17/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $85 | &nbsp;&nbsp; $85226 |
| Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan D, (1-mo. CME Term SOFR + <br> 3.00%), 6.81%, 12/01/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp; 17538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + <br> 5.25%), 8.95%, 06/04/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 0 <br><sup>(h)</sup><br>| &nbsp;&nbsp; 163 |
| &nbsp;&nbsp;&nbsp; Numericable US LLC, 2025 USD Term Loan <br> B14, (3-mo. CME Term SOFR at 0.00% Floor <br> + 6.88%), 10.55%, 05/31/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 50796 |
| &nbsp;&nbsp;&nbsp; Radiate Holdco, LLC, 2025 FLFO Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.50% and 1.50% PIK), 8.79%, 09/25/29<sup>(c)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 55791 |
|  |  | &nbsp;&nbsp; 290870 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp; BradyPlus Holdings LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 3.50%), 7.17%, 12/29/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; 85427 |
| &nbsp;&nbsp;&nbsp; LABL, Inc., 2021 USD 1st Lien Term Loan, <br> (3-mo. CME Term SOFR at 0.50% Floor + <br> 5.00%), 8.77%, 10/30/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp; 16480 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 2025 <br> Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.50%), 7.23%, 04/15/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 71110 |
|  |  | &nbsp;&nbsp; 173017 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.50%), 7.17%, 08/01/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 99999 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings, Inc., 2024 1st Lien Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor <br> + 3.75%), 7.42%, 04/23/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 24832 |
|  |  | &nbsp;&nbsp; 124831 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc., 2nd Lien Term Loan, (1-mo. <br> CME Term SOFR at 0.50% Floor + 6.50%), <br> 10.29%, 06/04/29<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29625 |
| **Retail — 0.3%** | **Retail — 0.3%** | **Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp; Boots Group Bidco Ltd. (The), USD Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + <br> 3.50%), 7.21%, 08/30/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 185463 |
| &nbsp;&nbsp;&nbsp; White Cap Supply Holdings LLC, 2024 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.25%), 6.92%, 10/19/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59604 |
|  |  | &nbsp;&nbsp; 245067 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| &nbsp;&nbsp;&nbsp; Gryphon Acquire Newco LLC, Term Loan B, <br> (6-mo. CME Term SOFR at 0.00% Floor + <br> 3.00%), 6.88%, 09/13/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp; 30898 |
| **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc., 2022 Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.75%), 6.42%, 02/15/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp; 75588 |
| Boxer Parent Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 6.82%, <br> 07/30/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 83439 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 5.75%), 9.42%, <br> 07/30/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; $31 | &nbsp;&nbsp; $29166 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.25%), <br> 6.92%, 07/06/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 16083 |
| &nbsp;&nbsp;&nbsp; CoreLogic, Inc., Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.50%), 7.29%, <br> 06/02/28<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 67692 |
| &nbsp;&nbsp;&nbsp; Darktrace PLC, 1st Lien Term Loan, (3-mo. CME <br> Term SOFR + 3.25%), 6.90%, 10/09/31<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 15521 |
| &nbsp;&nbsp;&nbsp; Ellucian Holdings, Inc., 2024 2nd Lien Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor <br> + 4.75%), 8.42%, 11/22/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 58575 |
| Finastra USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.00%), 7.72%, <br> 09/15/32<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 62403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 2nd Lien Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 7.00%), 10.72%, <br> 09/15/33<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp; 12135 |
|  |  | &nbsp;&nbsp; 420602 |
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., 2025 Term <br> Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 5.25%), 9.02%, 08/06/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp; 91081 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc., 2025 Repriced Term <br> Loan B4, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.25%), 6.92%, 03/29/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp; 116029 |
| Windstream Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 7.67%, <br> 10/06/32<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 43000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 4.75%), 8.52%, <br> 10/01/31<sup>(e)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 38223 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., 2025 USD Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor <br> + 3.00% and 0.50% PIK), 7.29%, <br> 03/11/30<sup>(c)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp; 274304 |
|  |  | &nbsp;&nbsp; 562637 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| Azuria Water Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2026 Term Loan B, 01/27/33<sup>(e)(g)(i)</sup> | &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 38004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2026 Delayed Draw Term Loan, <br> 01/27/33<sup>(e)(g)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 5067 |
|  |  | &nbsp;&nbsp; 43071 |
| **Total Floating Rate Loan Interests — 4.8%** <br>**(Cost: $4,314,677)** | **Total Floating Rate Loan Interests — 4.8%** <br>**(Cost: $4,314,677)** | &nbsp;&nbsp; 4217390 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Luxco Co. Ltd., NVS | &nbsp;&nbsp;&nbsp; 2037 | &nbsp;&nbsp; 38338 |
| **Food Products — 0.1%** | **Food Products — 0.1%** | **Food Products — 0.1%** |
| Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp; 975 | &nbsp;&nbsp; 44782 |

---

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| Constellium SE, Class A<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 5329 | &nbsp;&nbsp; $119743 |
| **Oil, Gas & Consumable Fuels — 0.3%** | **Oil, Gas & Consumable Fuels — 0.3%** | **Oil, Gas & Consumable Fuels — 0.3%** |
| Energy Transfer LP | &nbsp;&nbsp;&nbsp; 8735 | &nbsp;&nbsp; 161161 |
| Enterprise Products Partners LP | &nbsp;&nbsp;&nbsp; 1830 | &nbsp;&nbsp; 60737 |
|  |  | &nbsp;&nbsp; 221898 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| VICI Properties, Inc., Class A | &nbsp;&nbsp;&nbsp; 5932 | &nbsp;&nbsp; 166571 |
| **Total Common Stocks — 0.7%** <br>**(Cost $554,195)** | **Total Common Stocks — 0.7%** <br>**(Cost $554,195)** | &nbsp;&nbsp; 591332 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange Traded Funds — 2.3%** | **Exchange Traded Funds — 2.3%** | **Exchange Traded Funds — 2.3%** |
| &nbsp;&nbsp;&nbsp; iShares Broad USD High Yield Corporate Bond <br> ETF<sup>(b)(k)</sup><br>| &nbsp;&nbsp;&nbsp; 43000 | &nbsp;&nbsp; 1618520 |
| SPDR Blackstone Senior Loan ETF | &nbsp;&nbsp;&nbsp; 8800 | &nbsp;&nbsp; 360448 |
|  |  | &nbsp;&nbsp; 1978968 |
| **Total Investment Companies — 2.3%** <br>**(Cost $1,982,190)** | **Total Investment Companies — 2.3%** <br>**(Cost $1,982,190)** | &nbsp;&nbsp; 1978968 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Financial Services — 0.0%** | **Financial Services — 0.0%** | **Financial Services — 0.0%** |
| Shift4 Payments, Inc., 6.00%<sup>(l)</sup> | &nbsp;&nbsp;&nbsp; 213 | &nbsp;&nbsp; 16005 |
| **Insurance — 0.4%** | **Insurance — 0.4%** | **Insurance — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alliant Cali, Inc., NVS, (Acquired 09/25/24, Cost <br> $327,020)<sup>(i)(m)</sup><br>| &nbsp;&nbsp;&nbsp; 332 | &nbsp;&nbsp; 352518 |
| **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** | **Semiconductors & Semiconductor Equipment — 0.1%** |
| Microchip Technology, Inc., 7.50%<sup>(l)</sup> | &nbsp;&nbsp;&nbsp; 1367 | &nbsp;&nbsp; 91370 |
| **Total Preferred Stocks — 0.5%** <br>**(Cost $420,355)** | **Total Preferred Stocks — 0.5%** <br>**(Cost $420,355)** | &nbsp;&nbsp; 459893 |
| **Total Long-Term Investments — 95.5%** <br>**(Cost: $82,233,962)** | **Total Long-Term Investments — 95.5%** <br>**(Cost: $82,233,962)** | &nbsp;&nbsp; 83486726 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 11.8%** | **Money Market Funds — 11.8%** | **Money Market Funds — 11.8%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 3.82%<sup>(k)(n)(o)</sup><br>| &nbsp;&nbsp;&nbsp; 6998421 | &nbsp;&nbsp; $7001921 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 3.64%<sup>(k)(n)</sup><br>| &nbsp;&nbsp;&nbsp; 3310000 | &nbsp;&nbsp; 3310000 |
| **Total Short-Term Securities — 11.8%** <br>**(Cost: $10,311,308)** | **Total Short-Term Securities — 11.8%** <br>**(Cost: $10,311,308)** | &nbsp;&nbsp; 10311921 |
| **Total Investments — 107.3%** <br>**(Cost: $92,545,270)** | **Total Investments — 107.3%** <br>**(Cost: $92,545,270)** | &nbsp;&nbsp; 93798647 |
| **Liabilities in Excess of Other Assets — (7.3)%** | **Liabilities in Excess of Other Assets — (7.3)%** | &nbsp;&nbsp; (6368656)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $87429991 |

---

&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> Perpetual security with no stated maturity date.

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

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

<sup>(g)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. 

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

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

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

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

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

<sup>(m)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $352,518, representing 0.4% of its net assets as of period end, and an original cost of $327,020. 

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*01/31/26*<br>| *Shares* <br>*Held at* <br>*01/31/26*<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>| $7593995 | $— | $(592115 )<sup>(a)</sup><br>| $22 | $19 | $7001921 | 6998421 | $4671 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp; 3580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | (270000 )<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; 3310000 | 3310000 | &nbsp;&nbsp; 32511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| iShares Broad USD High Yield Corporate Bond ETF | &nbsp;&nbsp; 1615940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2580 | &nbsp;&nbsp;&nbsp; 1618520 | 43000 | &nbsp;&nbsp; 27496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $22 | $2599 | $11930441 |  | $64678 | $— |

---

&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. 

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| &nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Long Treasury Note | 10 | 03/20/26 | &nbsp;&nbsp; $1141 | $10999 |
| &nbsp;&nbsp;&nbsp; Long U.S. Treasury Bond | 6 | 03/20/26 | &nbsp;&nbsp; 689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10385 |
|  |  |  |  | $21384 |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 872962 | EUR | 739000 | Morgan Stanley & Co. International PLC | 03/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4788)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4788)<br>|

---

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* | &nbsp;&nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.45.V2 | 5.00<br> %<br>| Quarterly | 12/20/30<br> B | USD | 2525 | $226025 | $175932 | $50093 |

---

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |  |  |
| *Rate* | *Frequency* | *Reference* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premiums* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| 1-day SOFR, 3.68% | At <br> Termination<br>| &nbsp;&nbsp;&nbsp; Markit iBoxx USD Liquid <br> Leveraged Loan Index<br>| Quarterly | Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 03/20/26 | USD | 1050 | $15947 | $(4559)<br>| $20506 |
| 1-day SOFR, 3.68% | At <br> Termination<br>| &nbsp;&nbsp;&nbsp; Markit iBoxx $ Liquid High <br> Yield Index<br>| Quarterly | BNP Paribas <br> S.A.<br>| N/A | 09/20/26 | USD | 3230 | 29240 | (29161)<br>| 58401 |
| 1-day SOFR, 3.68% | At <br> Termination<br>| &nbsp;&nbsp;&nbsp; Markit iBoxx $ Liquid High <br> Yield Index<br>| Quarterly | Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 09/20/26 | USD | 16 | 145 | (142)<br>| 287 |
| 1-day SOFR, 3.68% | At <br> Termination<br>| &nbsp;&nbsp;&nbsp; Markit iBoxx $ Liquid High <br> Yield Index<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 09/20/26 | USD | 19 | 141 | (185)<br>| 326 |
|  |  |  |  |  |  |  |  |  | $45473 | $(34047)<br>| $79520 |

---

**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).

------

Schedule of Investments (unaudited)(continued)

January 31, 2026

**iShares High Yield Active ETF**

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp; $386005 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $386005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 75102511 | &nbsp;&nbsp; — | &nbsp;&nbsp; 75102511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; 750627 | &nbsp;&nbsp; — | &nbsp;&nbsp; 750627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; 3966851 | &nbsp;&nbsp; 250539 | &nbsp;&nbsp; 4217390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; 552994 | &nbsp;&nbsp; 38338 | &nbsp;&nbsp; — | &nbsp;&nbsp; 591332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 1978968 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1978968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 107375 | &nbsp;&nbsp; 352518 | &nbsp;&nbsp; 459893 |
| &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; 10311921 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10311921 |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp; 10 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp; (31)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (31)<br>|
|  | &nbsp;&nbsp; $12843883 | &nbsp;&nbsp; $80351686 | &nbsp;&nbsp; $603057 | &nbsp;&nbsp; $93798626 |
| Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $50093 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $50093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 21384 | &nbsp;&nbsp; 79520 | &nbsp;&nbsp; — | &nbsp;&nbsp; 100904 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (4788)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (4788)<br>|
|  | &nbsp;&nbsp; $21384 | &nbsp;&nbsp; $124825 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $146209 |

---

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

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

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

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

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| EUR | Euro |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |

---

---

| | |
|:---|:---|
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** iShares High Yield Active ETF

- **b. EDGAR series identifier (if any):** S000085059

- **c. LEI of Series:** 529900FRP27WD06LWG65

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $99772557.86

**Total Liabilities:** $12346070.99

**Net Assets:** $87426486.87

**Delayed Delivery Securities:** $706219.72

**Cash Not Reported:** $37051.55

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 24.85000000 | **1-Year:** 35.33000000 | **5-Year:** 521.06000000 | **10-Year:** 2099.28000000 | **30-Year:** 50.94000000

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

- **3-Month:** 1758.95000000 | **1-Year:** 2748.81000000 | **5-Year:** 21704.39000000 | **10-Year:** 1026.76000000 | **30-Year:** 205.47000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000249922 | 0.58%                | 0.75%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7868.41                | $36070.80                                  |
| Month 2  | $-44725.70               | $115847.69                                 |
| Month 3  | $43223.44                | $-215266.87                                |

**Designated Index Information**

- **Index Name:** Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index

- **Index Identifier:** LF89TRUU

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAL Delaware Holdco Inc                         | AAL Delaware Holdco Inc 2025 Term Loan                                           | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6965 | PA      | $6962.66      | 0.01%             | 2031-07-30      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                    | ADT Security Corp/The                                                            | CUSIP: 00109LAB9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    132000 | PA      | $133814.95    | 0.15%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ACP Tara Holdings Inc                           | ACP Tara Holdings Inc 2025 Term Loan B                                           | CUSIP: 00110HAG4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     17000 | PA      | $17063.75     | 0.02%             | 2032-12-15      | Floating      | 6.97%                 | No            |                  3 | On Loan: No      |
| AES CORP/THE                                    | AES Corp/The                                                                     | CUSIP: 00130HCK9<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     52000 | PA      | $52724.57     | 0.06%             | 2055-01-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| AHP HEALTH PARTN                                | AHP Health Partners Inc                                                          | CUSIP: 00150LAB7<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | DBT              | CORP              | US        |     98000 | PA      | $95545.59     | 0.11%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| API GROUP DE INC                                | APi Group DE Inc                                                                 | CUSIP: 001877AA7<br>LEI: 549300XP4G7B4QYA0G83 | Long             | DBT              | CORP              | US        |     52000 | PA      | $50569.99     | 0.06%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                          | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     87000 | PA      | $88319.79     | 0.10%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ATS CORP                                        | ATS Corp                                                                         | CUSIP: 001940AC9<br>LEI: 5493005KP4RP3IU7HQ41 | Long             | DBT              | CORP              | CA        |     39000 | PA      | $38050.46     | 0.04%             | 2028-12-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO LLC                              | APLD ComputeCo LLC                                                               | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $55053.45     | 0.06%             | 2030-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                           | AAR Escrow Issuer LLC                                                            | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     17000 | PA      | $17594.86     | 0.02%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                        | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      6500 | PA      | $6567.63      | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                        | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14816.92     | 0.02%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| ACUSHNET CO                                     | Acushnet Co                                                                      | CUSIP: 005095AB0<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23216.20     | 0.03%             | 2033-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                              | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27457.78     | 0.03%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| AECOM                                           | AECOM                                                                            | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133171.61    | 0.15%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                        | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15336.50     | 0.02%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                              | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21763.69     | 0.02%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                              | Osaic Holdings Inc                                                               | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     92000 | PA      | $95360.77     | 0.11%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                              | Osaic Holdings Inc                                                               | CUSIP: 00791GAD9<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     48000 | PA      | $49694.56     | 0.06%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                              | Osaic Holdings Inc                                                               | CUSIP: 00791GAE7<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60174.51     | 0.07%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                         | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47000 | PA      | $49457.91     | 0.06%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                          | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAB4<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    118000 | PA      | $120489.97    | 0.14%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                          | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAC2<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     33000 | PA      | $33058.38     | 0.04%             | 2031-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                          | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAD0<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    124000 | PA      | $121950.74    | 0.14%             | 2034-03-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| ALBERTSONS COS INC                              | Albertsons Cos Inc                                                               | CUSIP: 01309QAE8<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |     32000 | PA      | $31967.58     | 0.04%             | 2032-03-31      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                        | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    200000 | PA      | $208452.40    | 0.24%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AlixPartners LLP                                | AlixPartners LLP 2025 USD Term Loan                                              | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |     11647 | PA      | $11572.33     | 0.01%             | 2032-08-12      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| ATI INC                                         | ATI Inc                                                                          | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90142.11     | 0.10%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ATI INC                                         | ATI Inc                                                                          | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     43000 | PA      | $45077.03     | 0.05%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| BREAD FINANCIAL HLDGS                           | Bread Financial Holdings Inc                                                     | CUSIP: 018581AQ1<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12316.70     | 0.01%             | 2035-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| ALLIANT HOLD / CO-ISSUER                        | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     20000 | PA      | $20056.56     | 0.02%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                        | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $153085.77    | 0.18%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                        | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $138560.37    | 0.16%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                        | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $30496.35     | 0.03%             | 2028-04-15      | Fixed         | 6.75%                 | 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        |    207000 | PA      | $214608.71    | 0.25%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                        | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    208000 | PA      | $215325.14    | 0.25%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $198300.96    | 0.23%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                         | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    607000 | PA      | $638820.76    | 0.73%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    266000 | PA      | $276242.51    | 0.32%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                         | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $197294.10    | 0.23%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                     | Allied Universal Holdco LLC 2025 USD Term Loan B                                 | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |     73302 | PA      | $73373.98     | 0.08%             | 2032-08-20      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC                        | Allison Transmission Inc                                                         | CUSIP: 019736AH0<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     74000 | PA      | $75047.47     | 0.09%             | 2033-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                            | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46656.09     | 0.05%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                | Altice France SA                                                                 | CUSIP: 02090DAB4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     13163 | PA      | $12940.72     | 0.01%             | 2030-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                | Altice France SA                                                                 | CUSIP: 02090DAC2<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |     18805 | PA      | $18331.51     | 0.02%             | 2031-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                | Altice France SA                                                                 | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    258493 | PA      | $252472.70    | 0.29%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                | Altice France SA                                                                 | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    201039 | PA      | $196323.25    | 0.22%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALTAGAS LTD                                     | AltaGas Ltd                                                                      | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | CA        |     33000 | PA      | $34321.35     | 0.04%             | 2054-10-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Amentum Government Services Holdings LLC        | Amentum Government Services Holdings LLC 2024 Term Loan B                        | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |      7537 | PA      | $7527.11      | 0.01%             | 2031-09-29      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                            | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14753.52     | 0.02%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                           | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     42000 | PA      | $43826.66     | 0.05%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                         | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30608.85     | 0.04%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                         | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31890.55     | 0.04%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                        | AmeriTex HoldCo Intermediate LLC                                                 | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $37863.36     | 0.04%             | 2033-08-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                          | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $20363.45     | 0.02%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AMKOR TECHNOLOGY INC                            | Amkor Technology Inc                                                             | CUSIP: 031652BL3<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15286.56     | 0.02%             | 2033-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                      | Amneal Pharmaceuticals LLC 2025 Term Loan B                                      | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |     99750 | PA      | $99999.38     | 0.11%             | 2032-08-01      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                        | Amneal Pharmaceuticals LLC                                                       | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     29000 | PA      | $30536.10     | 0.03%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                | AmWINS Group Inc                                                                 | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17759.57     | 0.02%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17443.39     | 0.02%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMSTED INDUSTRIES                               | Amsted Industries Inc                                                            | CUSIP: 032177AK3<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19663.88     | 0.02%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMYNTA AGENCY/WARRANTY                          | Amynta Agency Borrower Inc and Amynta Warranty Borrower Inc                      | CUSIP: 03238AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     87000 | PA      | $88702.59     | 0.10%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                        | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $41552.08     | 0.05%             | 2032-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT                        | Apollo Global Management Inc                                                     | CUSIP: 03769MAD8<br>LEI: 254900LMFT1CY9IYB476 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55991.00     | 0.06%             | 2054-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                        | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14600.29     | 0.02%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                        | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAF0<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11351.85     | 0.01%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD                        | Apollo Debt Solutions BDC                                                        | CUSIP: 03770DAK9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25191.87     | 0.03%             | 2030-08-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                            | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |     24000 | PA      | $23986.83     | 0.03%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARCHROCK SERVICES/PARTNE                        | Archrock Services LP / Archrock Partners Finance Corp                            | CUSIP: 03958CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $66949.45     | 0.08%             | 2034-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                        | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     92000 | PA      | $92231.66     | 0.11%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                        | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    123000 | PA      | $127501.43    | 0.15%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Arcline FM Holdings LLC                         | Arcline FM Holdings LLC 2025 1st Lien Term Loan                                  | CUSIP: 03960DAJ2<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |      7000 | PA      | $7009.87      | 0.01%             | 2030-06-23      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                      | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |     44000 | PA      | $43253.10     | 0.05%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                      | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |      8000 | PA      | $8427.06      | 0.01%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH GROUP SA                                 | Ardagh Group SA                                                                  | CUSIP: 03969UAA4<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $189000.00    | 0.22%             | 2030-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                          | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    349000 | PA      | $331516.09    | 0.38%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                              | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    600000 | PA      | $620266.91    | 0.71%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP FINANCE                          | Ardonagh Group Finance Ltd                                                       | CUSIP: 039956AA5<br>LEI: 254900SRT1BTAJ76NW62 | Long             | DBT              | CORP              | JE        |    200000 | PA      | $206243.63    | 0.24%             | 2032-02-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH GROUP SA                                 | Ardagh Group SA                                                                  | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |    158251 | PA      | $171002.07    | 0.20%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                        | Ares Strategic Income Fund                                                       | CUSIP: 04020EAK3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31100.26     | 0.04%             | 2030-09-09      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU                        | Ares Strategic Income Fund                                                       | CUSIP: 04020EAR8<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32117.47     | 0.04%             | 2031-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                          | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $26476.13     | 0.03%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                          | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    242000 | PA      | $266663.19    | 0.31%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Aruba Investments Holdings LLC                  | Aruba Investments Holdings LLC 2020 USD Term Loan                                | CUSIP: 04317JAB4<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |     10023 | PA      | $9260.55      | 0.01%             | 2027-11-24      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| Aruba Investments Holdings LLC                  | Aruba Investments Holdings LLC 2020 2nd Lien Term Loan                           | CUSIP: 04317JAF5<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |     29000 | PA      | $25955.00     | 0.03%             | 2028-11-24      | Floating      | 11.52%                | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                         | Asbury Automotive Group Inc                                                      | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22351.43     | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                        | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15101.72     | 0.02%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                        | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VBA0<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26922.82     | 0.03%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                        | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $37353.71     | 0.04%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                        | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $23205.11     | 0.03%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                          | Asurion LLC and Asurion Co-Issuer Inc                                            | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $297769.28    | 0.34%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ASURION LLC/ASURION CO                          | Asurion LLC and Asurion Co-Issuer Inc                                            | CUSIP: 045941AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $192082.41    | 0.22%             | 2034-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                     | Asurion LLC 2025 Term Loan B13                                                   | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     24744 | PA      | $24761.10     | 0.03%             | 2030-09-19      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Athenahealth Group Inc                          | Athenahealth Group Inc 2022 Term Loan B                                          | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |     82959 | PA      | $81801.23     | 0.09%             | 2029-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Atlas CC Acquisition Corp                       | Atlas CC Acquisition Corp 2025 Second Out Term Loan B                            | CUSIP: 04921TAR5<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     65194 | PA      | $13335.43     | 0.02%             | 2029-05-25      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Atlas CC Acquisition Corp                       | Atlas CC Acquisition Corp 2025 Second Out Term Loan C                            | CUSIP: 04921TAS3<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |      9460 | PA      | $1935.04      | 0.00%             | 2029-05-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                             | Avantor Funding Inc                                                              | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |     91000 | PA      | $90299.70     | 0.10%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                     | Avient Corp                                                                      | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25703.19     | 0.03%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                             | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16578.40     | 0.02%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                  | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     25000 | PA      | $26310.75     | 0.03%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                  | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     39000 | PA      | $40846.21     | 0.05%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                   | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15100.07     | 0.02%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F                        | Bain Capital Specialty Finance Inc                                               | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |     11000 | PA      | $10982.38     | 0.01%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| BALL CORP                                       | Ball Corp                                                                        | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27442.83     | 0.03%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOXER PARENT COMPANY INC                        | Boxer Parent Company Inc 2024 2nd Lien Term Loan                                 | CUSIP: 05988HAN7<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |     31000 | PA      | $29165.73     | 0.03%             | 2032-07-30      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                        | Boxer Parent Company Inc 2025 USD Term Loan B                                    | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |     86915 | PA      | $83438.70     | 0.10%             | 2031-07-30      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                            | Bank of America Corp                                                             | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    174000 | PA      | $180788.78    | 0.21%             | 2030-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                            | Bank of America Corp                                                             | CUSIP: 06055HAK9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    162000 | PA      | $164891.82    | 0.19%             | 2030-07-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| BARCLAYS PLC                                    | Barclays PLC                                                                     | CUSIP: 06738ECN3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    360000 | PA      | $409411.08    | 0.47%             | 2029-12-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                              | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    195000 | PA      | $203287.50    | 0.23%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                           | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     28000 | PA      | $25899.58     | 0.03%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                           | Bausch Health Cos Inc                                                            | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    363000 | PA      | $377367.54    | 0.43%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                         | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |    210809 | PA      | $231961.67    | 0.27%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     16000 | PA      | $15938.31     | 0.02%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                            | Beignet Investor LLC                                                             | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1497000 | PA      | $1558701.50   | 1.78%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                           | Belron UK Finance PLC                                                            | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203808.26    | 0.23%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                         | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    112000 | PA      | $113039.36    | 0.13%             | 2029-01-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                          | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |     44000 | PA      | $43417.33     | 0.05%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                        | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59000 | PA      | $61483.19     | 0.07%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                  | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $12860.00     | 0.01%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                  | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     11000 | PA      | $11678.30     | 0.01%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| BOMBARDIER INC                                  | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     38000 | PA      | $39889.29     | 0.05%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| BOMBARDIER INC                                  | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    167000 | PA      | $175415.46    | 0.20%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Boots Group Bidco Ltd                           | Boots Group Bidco Ltd USD Term Loan                                              | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |    185000 | PA      | $185462.50    | 0.21%             | 2032-08-30      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| BOYNE USA INC                                   | Boyne USA Inc                                                                    | CUSIP: 103557AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $39470.66     | 0.05%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BRADYPLUS HOLDINGS LLC                          | BradyPlus Holdings LLC 2025 Term Loan B                                          | CUSIP: 10480UAD3<br>LEI: 254900LMURL5G873DV35 | Long             | LON              | CORP              | US        |     86000 | PA      | $85426.38     | 0.10%             | 2032-12-29      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                        | Brand Industrial Services Inc                                                    | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    128000 | PA      | $122718.68    | 0.14%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                   | Brand Industrial Services Inc 2024 Term Loan B                                   | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |      9673 | PA      | $8522.59      | 0.01%             | 2030-08-01      | Floating      | 8.35%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                  | Brink's Co/The                                                                   | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9284.94      | 0.01%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                  | Brink's Co/The                                                                   | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     86000 | PA      | $89518.60     | 0.10%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD FINANCE INC                          | Brookfield Finance Inc                                                           | CUSIP: 11271LAN2<br>LEI: 549300XH8D8K6OYWGD17 | Long             | DBT              | CORP              | CA        |    123000 | PA      | $122178.64    | 0.14%             | 2055-01-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                        | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    136000 | PA      | $131693.25    | 0.15%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                        | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |     53000 | PA      | $52331.09     | 0.06%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                             | Buckeye Partners LP                                                              | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     28000 | PA      | $25350.41     | 0.03%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                             | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5198.17      | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                             | Buckeye Partners LP                                                              | CUSIP: 118230AW1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10477.68     | 0.01%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                        | Builders FirstSource Inc                                                         | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11381.46     | 0.01%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                        | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52531.45     | 0.06%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $133742.14    | 0.15%             | 2030-03-01      | Fixed         | 4.75%                 | 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        |    235000 | PA      | $215153.10    | 0.25%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $62997.69     | 0.07%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $24229.46     | 0.03%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    214000 | PA      | $180763.78    | 0.21%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $69417.28     | 0.08%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $19181.62     | 0.02%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $68656.72     | 0.08%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                          | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $215257.78    | 0.25%             | 2036-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                             | Churchill Downs Inc                                                              | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    161000 | PA      | $161872.78    | 0.19%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                        | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     58000 | PA      | $52028.70     | 0.06%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| CHS/COMMUNITY HEALTH SYS                        | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    228000 | PA      | $214984.41    | 0.25%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                        | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     54000 | PA      | $58133.05     | 0.07%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                        | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    379000 | PA      | $395138.96    | 0.45%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CMG MEDIA CORPORATION                           | CMG Media Corp                                                                   | CUSIP: 125773AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $7796.97      | 0.01%             | 2029-06-18      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| CSC HOLDINGS LLC                                | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    213000 | PA      | $188003.07    | 0.22%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                | CSC Holdings LLC                                                                 | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $160297.10    | 0.18%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                              | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13600.90     | 0.02%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                           | CNX Midstream Partners LP                                                        | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $22345.81     | 0.03%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                        | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $248605.32    | 0.28%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                            | CP Atlas Buyer Inc 2025 Term Loan                                                | CUSIP: 12658HAL6<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |     16958 | PA      | $16627.51     | 0.02%             | 2030-07-08      | Floating      | 8.92%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                  | CVR Energy Inc                                                                   | CUSIP: 12662PAH1<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27941.09     | 0.03%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                  | CVR Energy Inc                                                                   | CUSIP: 12662PAJ7<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19837.76     | 0.02%             | 2034-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                   | Cable One Inc                                                                    | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |     71000 | PA      | $53960.00     | 0.06%             | 2028-03-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                          | CACI International Inc                                                           | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |     77000 | PA      | $79890.35     | 0.09%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                           | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |     37000 | PA      | $38206.94     | 0.04%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                           | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    158000 | PA      | $161558.95    | 0.18%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                    | Calpine Corp                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1998.25      | 0.00%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                           | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    263000 | PA      | $250178.75    | 0.29%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                   | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    109000 | PA      | $112129.17    | 0.13%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                   | Carnival Corp                                                                    | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     34000 | PA      | $35144.89     | 0.04%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                   | Carnival Corp                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     61000 | PA      | $62648.46     | 0.07%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CARPENTER TECHNOLOGY                            | Carpenter Technology Corp                                                        | CUSIP: 144285AN3<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60886.26     | 0.07%             | 2034-03-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                      | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    360962 | PA      | $397082.55    | 0.45%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                      | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    129363 | PA      | $134886.15    | 0.15%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                            | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp   | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $9000.86      | 0.01%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                        | Celanese US Holdings LLC                                                         | CUSIP: 15089QBA1<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29375.38     | 0.03%             | 2033-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                        | Celanese US Holdings LLC                                                         | CUSIP: 15089QBC7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6137.24      | 0.01%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                        | Celanese US Holdings LLC                                                         | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45791.19     | 0.05%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| CENTERPOINT ENERGY INC                          | CenterPoint Energy Inc                                                           | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12727.72     | 0.01%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: —       |
| Central Parent Inc                              | Central Parent Inc 2024 Term Loan B                                              | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     20158 | PA      | $16082.93     | 0.02%             | 2029-07-06      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                        | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    102000 | PA      | $78161.92     | 0.09%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                         | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                    | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $10879.94     | 0.01%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                             | Century Communities Inc                                                          | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     33000 | PA      | $33421.44     | 0.04%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Crash Champions LLC                             | Crash Champions LLC 2024 Term Loan B                                             | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |     41624 | PA      | $38666.57     | 0.04%             | 2029-02-23      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                           | Chamberlain Group Inc 2025 Term Loan B                                           | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |      8078 | PA      | $8066.00      | 0.01%             | 2032-09-08      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                            | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29133.02     | 0.03%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                     | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     88000 | PA      | $88581.06     | 0.10%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                     | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |    223000 | PA      | $221152.38    | 0.25%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                     | Chemours Co/The                                                                  | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |      9000 | PA      | $8392.42      | 0.01%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CHOBANI HOLDCO II LLC                           | Chobani Holdco II LLC                                                            | CUSIP: 169918AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    287835 | PA      | $306782.31    | 0.35%             | 2029-10-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                        | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59000 | PA      | $58699.85     | 0.07%             | 2028-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                        | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104000 | PA      | $108165.20    | 0.12%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                             | Churchill Downs Inc                                                              | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |    147000 | PA      | $151459.10    | 0.17%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                | Cinemark USA Inc                                                                 | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12416.71     | 0.01%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| CIPHER COMPUTE LLC                              | Cipher Compute LLC                                                               | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    177000 | PA      | $182382.75    | 0.21%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                   | Citigroup Inc                                                                    | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    155000 | PA      | $160421.59    | 0.18%             | 2029-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                   | Citigroup Inc                                                                    | CUSIP: 172967PR6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    113000 | PA      | $115232.23    | 0.13%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                   | Citigroup Inc                                                                    | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56005.07     | 0.06%             | 2031-02-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CITGO PETROLEUM CORP                            | CITGO Petroleum Corp                                                             | CUSIP: 17302XAN6<br>LEI: YX52P86PXMLYDOTUQ225 | Long             | DBT              | CORP              | US        |    113000 | PA      | $117438.19    | 0.13%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                   | Citigroup Inc                                                                    | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     46000 | PA      | $47385.89     | 0.05%             | 2030-02-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                   | Citigroup Inc                                                                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    122000 | PA      | $124629.86    | 0.14%             | 2030-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                     | City Football Group Limited 2024 Term Loan                                       | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |     32337 | PA      | $32165.67     | 0.04%             | 2030-07-22      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                    | SM Energy Co                                                                     | CUSIP: 17888HAA1<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12351.58     | 0.01%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                    | SM Energy Co                                                                     | CUSIP: 17888HAB9<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     29000 | PA      | $30460.38     | 0.03%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| CLARIOS GLOBAL LP/US FIN                        | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    197000 | PA      | $206087.81    | 0.24%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                        | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    247000 | PA      | $255652.41    | 0.29%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                             | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $64177.18     | 0.07%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                             | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    191000 | PA      | $164176.88    | 0.19%             | 2029-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| CLEAN HARBORS INC                               | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22526.61     | 0.03%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc              | Clear Channel Outdoor Holdings Inc 2024 Term Loan                                | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |    103785 | PA      | $103692.63    | 0.12%             | 2028-08-23      | Floating      | 7.79%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     82000 | PA      | $82025.67     | 0.09%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148428.06    | 0.17%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| CLEAR CHANNEL OUTDOOR HO                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     77000 | PA      | $81070.76     | 0.09%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    310000 | PA      | $323268.93    | 0.37%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                        | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    343000 | PA      | $364450.19    | 0.42%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                          | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAE5<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |     43000 | PA      | $39577.05     | 0.05%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                            | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     70000 | PA      | $72744.49     | 0.08%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                          | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    494000 | PA      | $498827.02    | 0.57%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                          | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     56000 | PA      | $56956.65     | 0.07%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Clover Holdings 2 LLC                           | Clover Holdings 2 LLC Fixed Term Loan B                                          | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    199223 | PA      | $194989.69    | 0.22%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                          | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28246.68     | 0.03%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                          | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAC9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    143000 | PA      | $144859.00    | 0.17%             | 2030-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                          | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    238000 | PA      | $239857.45    | 0.27%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                        | Permian Resources Operating LLC                                                  | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17057.10     | 0.02%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COLUMBUS MCKINNON CORP                          | Columbus McKinnon Corp/NY                                                        | CUSIP: 199333AK1<br>LEI: 549300W3HQB0HO1F3G69 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46239.20     | 0.05%             | 2033-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                            | Commercial Metals Co                                                             | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     69000 | PA      | $70152.09     | 0.08%             | 2033-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                            | Commercial Metals Co                                                             | CUSIP: 201723AV5<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     96000 | PA      | $98084.09     | 0.11%             | 2035-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| COMPASS GROUP DIVERSIFIE                        | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |     42203 | PA      | $39343.25     | 0.05%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COMPOSECURE HOLDINGS LLC                        | COMPOSECURE HOLDINGS LLC TERM LOAN                                               | CUSIP: 20459KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     60000 | PA      | $59812.80     | 0.07%             | 2033-01-14      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| COMPOSECURE HOLDINGS LLC                        | CompoSecure Holdings LLC                                                         | CUSIP: 20459XAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    189000 | PA      | $188395.20    | 0.22%             | 2033-02-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                          | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |    119000 | PA      | $119758.74    | 0.14%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                          | Comstock Resources Inc                                                           | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     67000 | PA      | $65371.79     | 0.07%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                          | Comstock Resources Inc                                                           | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69085.56     | 0.08%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRA HEALTH SERVICE                        | Concentra Health Services Inc                                                    | CUSIP: 20600DAA1<br>LEI: 984500GB84105F75DE32 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60726.29     | 0.07%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| CONSTELLIUM SE                                  | Constellium SE                                                                   | CUSIP: 21039CAD6<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $258535.50    | 0.30%             | 2032-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                        | ContourGlobal Power Holdings SA                                                  | CUSIP: 21220LAB9<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |    200000 | PA      | $206256.00    | 0.24%             | 2030-02-28      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                   | CoreLogic Inc Term Loan                                                          | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |     67918 | PA      | $67692.04     | 0.08%             | 2028-06-02      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| CORELOGIC INC                                   | CoreLogic Inc                                                                    | CUSIP: 21871DAD5<br>LEI: 54930086CD8K2UIL0516 | Long             | DBT              | CORP              | US        |    257000 | PA      | $252200.06    | 0.29%             | 2028-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                        | Corebridge Financial Inc                                                         | CUSIP: 21871XAT6<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |     38000 | PA      | $38822.91     | 0.04%             | 2054-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                   | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     91000 | PA      | $89580.23     | 0.10%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| Cotiviti Corporation                            | Cotiviti Corporation 2024 Fixed Term Loan B                                      | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    205705 | PA      | $191435.24    | 0.22%             | 2031-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| COUGAR JV SUBSIDIARY LLC                        | Cougar JV Subsidiary LLC                                                         | CUSIP: 22208WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $39538.83     | 0.05%             | 2032-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                    | UBS Group AG                                                                     | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $204933.00    | 0.23%             | 2034-08-10      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CROCS INC                                       | Crocs Inc                                                                        | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18303.87     | 0.02%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| CROSSCOUNTRY INTER                              | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47000 | PA      | $47704.53     | 0.05%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                              | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $61501.52     | 0.07%             | 2032-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CROWN AMERICAS LLC                              | Crown Americas LLC                                                               | CUSIP: 228180AC9<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |     86000 | PA      | $87962.86     | 0.10%             | 2033-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                          | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     42000 | PA      | $44762.26     | 0.05%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| DANA INC                                        | Dana Inc                                                                         | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7641.92      | 0.01%             | 2030-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| DANA INC                                        | Dana Inc                                                                         | CUSIP: 235825AJ5<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11348.88     | 0.01%             | 2032-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| DARLING INGREDIENTS INC                         | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21279.64     | 0.02%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                      | DaVita Inc                                                                       | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      2000 | PA      | $2060.08      | 0.00%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                      | DaVita Inc                                                                       | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11290.27     | 0.01%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DBR LAND HOLDINGS LLC                           | DBR Land Holdings LLC                                                            | CUSIP: 24024BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $37902.06     | 0.04%             | 2030-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                          | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $49359.50     | 0.06%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Delta TopCo Inc                                 | Delta TopCo Inc 2024 2nd Lien Term Loan                                          | CUSIP: 24780DAH0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2030-11-29      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                                     | Deluxe Corp                                                                      | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     19000 | PA      | $19936.53     | 0.02%             | 2029-09-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| DIAMOND FRGN/DIAMOND FIN                        | Diamond Foreign Asset Co / Diamond Finance LLC                                   | CUSIP: 25260WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     26000 | PA      | $27646.58     | 0.03%             | 2030-10-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                        | Digicel International Finance Ltd / Difl US LLC                                  | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $207964.00    | 0.24%             | 2032-08-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| DIGITAL REALTY TRUST LP                         | Digital Realty Trust LP                                                          | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              |  | US        |     11000 | PA      | $11365.20     | 0.01%             | 2029-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing LLC                           | DirecTV Financing LLC 2025 Term Loan B                                           | CUSIP: 25460HAF9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     85278 | PA      | $85225.47     | 0.10%             | 2031-02-17      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                           | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $67326.36     | 0.08%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                           | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     82000 | PA      | $84467.30     | 0.10%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                               | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    282000 | PA      | $291858.16    | 0.33%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                   | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    162000 | PA      | $157441.58    | 0.18%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                   | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    176000 | PA      | $170320.00    | 0.19%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                 | Discovery Purchaser Corporation Term Loan                                        | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |    112959 | PA      | $105616.94    | 0.12%             | 2029-10-04      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                           | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    182000 | PA      | $184276.64    | 0.21%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                        | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              |  | US        |     26000 | PA      | $26778.70     | 0.03%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                             | Dominion Energy Inc                                                              | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14393.89     | 0.02%             | 2055-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                          | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    169000 | PA      | $175877.96    | 0.20%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC          | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-4787.74     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                | Duke Energy Corp                                                                 | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21970.90     | 0.03%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| DYCOM INDUSTRIES INC                            | Dycom Industries Inc                                                             | CUSIP: 267475AD3<br>LEI: 549300F56EKTHQI3WT60 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20671.60     | 0.02%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                        | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 26873CAB8<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |     52000 | PA      | $54556.27     | 0.06%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                   | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    594054 | PA      | $604591.33    | 0.69%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                   | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    154939 | PA      | $169847.23    | 0.19%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| EFESTO BIDCO SPA/US LLC                         | Efesto Bidco SpA Efesto US LLC                                                   | CUSIP: 28201XAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | IT        |    200000 | PA      | $203884.00    | 0.23%             | 2032-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ELASTIC NV                                      | Elastic NV                                                                       | CUSIP: 28415LAA1<br>LEI: 2549003I48WHHH937I59 | Long             | DBT              | CORP              | NL        |     48000 | PA      | $46112.34     | 0.05%             | 2029-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS INC                             | Electronic Arts Inc                                                              | CUSIP: 285512AF6<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |     32000 | PA      | $29717.55     | 0.03%             | 2051-02-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| ELEMENT SOLUTIONS INC                           | Element Solutions Inc                                                            | CUSIP: 28618MAA4<br>LEI: 549300FLGN6P5CU20J91 | Long             | DBT              | CORP              | US        |    177000 | PA      | $172512.66    | 0.20%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ELLUCIAN HOLDINGS INC                           | Ellucian Holdings Inc                                                            | CUSIP: 289178AA3<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | DBT              | CORP              | US        |     76000 | PA      | $74788.07     | 0.09%             | 2029-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                         | Ellucian Holdings Inc 2024 2nd Lien Term Loan                                    | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     60000 | PA      | $58575.00     | 0.07%             | 2032-11-22      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                        | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |    440000 | PA      | $455433.88    | 0.52%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                         | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |     12000 | PA      | $12399.91     | 0.01%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                    | Enbridge Inc                                                                     | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     28000 | PA      | $29841.78     | 0.03%             | 2054-06-27      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                    | Enbridge Inc                                                                     | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     32000 | PA      | $33989.06     | 0.04%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Energy Transfer LP                              | Energy Transfer LP                                                               | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |      8735 | NS      | $161160.75    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                              | Energy Transfer LP                                                               | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     58000 | PA      | $59907.21     | 0.07%             | 2030-05-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                              | Energy Transfer LP                                                               | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     63000 | PA      | $63291.06     | 0.07%             | 2026-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                              | Energy Transfer LP                                                               | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     60000 | PA      | $64115.46     | 0.07%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                              | Energy Transfer LP                                                               | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46500.71     | 0.05%             | 2054-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| Endo Luxembourg Finance Company I Sa rl         | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                  | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |     24824 | PA      | $24831.59     | 0.03%             | 2031-04-23      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| ENERFLEX INC                                    | Enerflex Inc                                                                     | CUSIP: 29281WAA6<br>LEI: 549300SQCOV1LC1GBK07 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21703.21     | 0.02%             | 2031-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                       | Enpro Inc                                                                        | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25706.73     | 0.03%             | 2033-06-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Partners LP                 | Enterprise Products Partners LP                                                  | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |      1830 | NS      | $60737.70     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ERO COPPER CORP                                 | ERO Copper Corp                                                                  | CUSIP: 296006AA7<br>LEI: 549300KL8A21SEIO8I47 | Long             | DBT              | CORP              | CA        |    165000 | PA      | $166287.00    | 0.19%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| ESAB CORP                                       | Esab Corp                                                                        | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24660.77     | 0.03%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                        | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     60000 | PA      | $59039.98     | 0.07%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                 | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59006.05     | 0.07%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                 | Fair Isaac Corp                                                                  | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    218000 | PA      | $222127.83    | 0.25%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FERRELLGAS LP/FERRELLGAS                        | Ferrellgas LP / Ferrellgas Finance Corp                                          | CUSIP: 315292AU6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $36180.27     | 0.04%             | 2031-01-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                          | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     51000 | PA      | $49323.49     | 0.06%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                          | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32000 | PA      | $30261.29     | 0.03%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                            | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11313.34     | 0.01%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                            | Fiesta Purchaser Inc                                                             | CUSIP: 31659AAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12139.12     | 0.01%             | 2032-09-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| Finastra USA Inc                                | Finastra USA Inc 2025 2nd Lien Term Loan                                         | CUSIP: 31772YAB2<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |     13949 | PA      | $12135.63     | 0.01%             | 2033-09-15      | Floating      | 10.72%                | No            |                  3 | On Loan: No      |
| Finastra USA Inc                                | Finastra USA Inc 2025 USD Term Loan                                              | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |     71115 | PA      | $62403.41     | 0.07%             | 2032-09-15      | Floating      | 7.72%                 | No            |                  3 | On Loan: No      |
| FIRST QUANTUM MINERALS L                        | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $209750.00    | 0.24%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                         | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33000 | PA      | $34298.42     | 0.04%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FLASH COMPUTE LLC                               | Flash Compute LLC                                                                | CUSIP: 33853QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    209000 | PA      | $209709.14    | 0.24%             | 2030-12-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                        | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    142000 | PA      | $145369.66    | 0.17%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     58000 | PA      | $58055.74     | 0.07%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     99000 | PA      | $104970.20    | 0.12%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    161000 | PA      | $169399.05    | 0.19%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    135000 | PA      | $142079.00    | 0.16%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                         | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAH4<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    280000 | PA      | $283885.84    | 0.32%             | 2033-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| FORTREA HOLDINGS INC                            | Fortrea Holdings Inc                                                             | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20346.84     | 0.02%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Fortress Intermediate 3, Inc                    | Fortress Intermediate 3 Inc 2025 Term Loan B                                     | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |      5120 | PA      | $5017.53      | 0.01%             | 2031-06-27      | Floating      | 6.67%                 | No            |                  3 | On Loan: No      |
| FORTRESS INTERMEDIATE                           | Fortress Intermediate 3 Inc                                                      | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    267000 | PA      | $271975.56    | 0.31%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                           | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31406.25     | 0.04%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                           | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    144000 | PA      | $152246.59    | 0.17%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                           | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     46000 | PA      | $48119.68     | 0.06%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                           | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAE8<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     62000 | PA      | $61527.21     | 0.07%             | 2031-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    132000 | PA      | $132004.36    | 0.15%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31108.84     | 0.04%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     50586 | PA      | $51046.33     | 0.06%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     66000 | PA      | $66578.72     | 0.08%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    180000 | PA      | $185614.09    | 0.21%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                         | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAE0<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |    140000 | PA      | $146369.44    | 0.17%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                           | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $49209.57     | 0.06%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                           | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      2000 | PA      | $1987.13      | 0.00%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                           | GFL Environmental Inc                                                            | CUSIP: 36168QAP9<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     36000 | PA      | $35262.95     | 0.04%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                           | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      5000 | PA      | $5230.66      | 0.01%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                | GGAM Finance Ltd                                                                 | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     73000 | PA      | $75524.78     | 0.09%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                | GGAM Finance Ltd                                                                 | CUSIP: 36170JAE6<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |     43000 | PA      | $43698.75     | 0.05%             | 2030-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL HOL                           | GFL Environmental Holdings US Inc                                                | CUSIP: 36273TAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    128000 | PA      | $128294.68    | 0.15%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc                              | Galaxy US Opco Inc Term Loan                                                     | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59789 | PA      | $56699.27     | 0.06%             | 2030-07-31      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                            | Garda World Security Corp                                                        | CUSIP: 36485MAM1<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     61000 | PA      | $62297.04     | 0.07%             | 2028-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                            | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    173000 | PA      | $176782.65    | 0.20%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                            | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |    355000 | PA      | $364466.43    | 0.42%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NEOGEN FOOD SAFE CORP                           | Neogen Food Safety Corp                                                          | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $41576.46     | 0.05%             | 2030-07-20      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                         | Garrett Motion Holdings Inc / Garrett LX I Sarl                                  | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33000 | PA      | $34937.30     | 0.04%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                            | Gates Corp/DE                                                                    | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |     38000 | PA      | $39502.25     | 0.05%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GENESEE & WYOMING INC                           | Genesee & Wyoming Inc                                                            | CUSIP: 371559AB1<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61768.14     | 0.07%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                           | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10436.62     | 0.01%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN                           | GENMAB A/S/GENMAB FINANCE LLC                                                    | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |    200000 | PA      | $211671.83    | 0.24%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     29000 | PA      | $25957.69     | 0.03%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: —       |
| GETTY IMAGES INC                                | Getty Images Inc                                                                 | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40502.90     | 0.05%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                            | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     11000 | PA      | $11446.34     | 0.01%             | 2032-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                         | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $19461.83     | 0.02%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                         | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     94000 | PA      | $97614.30     | 0.11%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GOAT HOLDCO LLC                                 | Goat Holdco LLC                                                                  | CUSIP: 38021MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     38000 | PA      | $39026.87     | 0.04%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                         | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB52<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117170.33    | 0.13%             | 2034-11-10      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                         | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC28<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    134000 | PA      | $139650.54    | 0.16%             | 2030-02-10      | Fixed         | 6.85%                 | No            |                  2 | On Loan: —       |
| GOODYEAR TIRE & RUBBER                          | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      4000 | PA      | $3849.65      | 0.00%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                          | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BS9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18377.39     | 0.02%             | 2030-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| GRAY MEDIA INC                                  | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12889.38     | 0.01%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| GRAY MEDIA INC                                  | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    101000 | PA      | $104126.10    | 0.12%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                  | Gray Media Inc                                                                   | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    153000 | PA      | $156637.27    | 0.18%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Gray Television, Inc.                           | Gray Television Inc 2021 Term Loan D                                             | CUSIP: 389376AZ7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |     17629 | PA      | $17537.78     | 0.02%             | 2028-12-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                             | Gray Television Inc 2024 Term Loan B                                             | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |       163 | PA      | $163.29       | 0.00%             | 2029-06-04      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| GREAT CAN GAMING/RAPTOR                         | Great Canadian Gaming Corp/Raptor LLC                                            | CUSIP: 389925AA6<br>LEI: 549300FU60SSFLTE0M84 | Long             | DBT              | CORP              | XX        |     76000 | PA      | $77285.31     | 0.09%             | 2029-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                          | Group 1 Automotive Inc                                                           | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24636.50     | 0.03%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                      | Gryphon Acquire Newco LLC Term Loan B                                            | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     31063 | PA      | $30898.06     | 0.04%             | 2032-09-13      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                         | Gulfport Energy Operating Corp                                                   | CUSIP: 402635AT3<br>LEI: 549300FJX18IDUFPHD40 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22688.31     | 0.03%             | 2029-09-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                        | HAH Group Holding Co LLC                                                         | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |     24000 | PA      | $22666.21     | 0.03%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                          | Harvest Midstream I LP                                                           | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18801.07     | 0.02%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HEALTHEQUITY INC                                | HealthEquity Inc                                                                 | CUSIP: 42226AAA5<br>LEI: 529900LRJU1RAFQHM467 | Long             | DBT              | CORP              | US        |     93000 | PA      | $90652.46     | 0.10%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                               | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     63000 | PA      | $66122.47     | 0.08%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                               | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    235000 | PA      | $248703.09    | 0.28%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| HERC HOLDINGS INC                               | Herc Holdings Inc                                                                | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32227.20     | 0.04%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| HERC HOLDINGS INC                               | Herc Holdings Inc                                                                | CUSIP: 42704LAK0<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     33000 | PA      | $33167.24     | 0.04%             | 2034-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                                  | Hertz Corp/The                                                                   | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     21000 | PA      | $21138.37     | 0.02%             | 2029-07-15      | Fixed         | 12.63%                | No            |                  2 | On Loan: —       |
| HESS MIDSTREAM OPERATION                        | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $18559.25     | 0.02%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                        | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $40365.16     | 0.05%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                        | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $42010.08     | 0.05%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                        | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1000 | PA      | $959.09       | 0.00%             | 2032-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                        | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $87211.32     | 0.10%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                        | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $20238.28     | 0.02%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                        | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $22255.58     | 0.03%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23757.44     | 0.03%             | 2032-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AR2<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     47000 | PA      | $48227.64     | 0.06%             | 2033-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AS0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      9000 | PA      | $9168.75      | 0.01%             | 2033-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                        | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AT8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |     77000 | PA      | $77371.45     | 0.09%             | 2034-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                     | Hologic Inc                                                                      | CUSIP: 436440AP6<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2989.04      | 0.00%             | 2029-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                              | Howard Hughes Corp/The                                                           | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33146.77     | 0.04%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                         | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     14000 | PA      | $14788.27     | 0.02%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                         | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $80059.20     | 0.09%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                        | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203787.40    | 0.23%             | 2032-02-15      | Fixed         | 8.13%                 | 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        |    200000 | PA      | $206854.20    | 0.24%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                           | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    465000 | PA      | $485159.61    | 0.55%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                           | HUB International Ltd                                                            | CUSIP: 44332PAJ0<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |    914000 | PA      | $957420.50    | 1.10%             | 2032-01-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                               | Iliad Holding SAS                                                                | CUSIP: 449691AG9<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $204992.00    | 0.23%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |    144000 | PA      | $138829.13    | 0.16%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                           | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    214000 | PA      | $211707.61    | 0.24%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                           | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $58353.39     | 0.07%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| ICAHN ENTERPRISES/FIN                           | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $49459.91     | 0.06%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                         | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    120000 | PA      | $119025.91    | 0.14%             | 2032-04-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                         | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     58000 | PA      | $58548.97     | 0.07%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| CRESCENT ENERGY FINANCE                         | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAJ2<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     59000 | PA      | $62747.53     | 0.07%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                    | MH Sub I LLC 2023 Term Loan                                                      | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     10165 | PA      | $9191.77      | 0.01%             | 2028-05-03      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| INGEVITY CORP                                   | Ingevity Corp                                                                    | CUSIP: 45688CAB3<br>LEI: 5493009UTFC4B5IMGF87 | Long             | DBT              | CORP              | US        |     41000 | PA      | $39877.12     | 0.05%             | 2028-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| INSIGHT ENTERPRS                                | Insight Enterprises Inc                                                          | CUSIP: 45765UAC7<br>LEI: 529900S8991TYW6YP792 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28663.49     | 0.03%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                        | Installed Building Products Inc                                                  | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48275.91     | 0.06%             | 2034-02-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                             | Insulet Corp                                                                     | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29139.71     | 0.03%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| INVERSION ESCROW ISSUER                         | Inversion Escrow Issuer LLC                                                      | CUSIP: 46150DAA0<br>LEI: 254900P6GHORGRVLKI95 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198099.12    | 0.23%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE US                         | ION Platform Finance US Inc                                                      | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |    403000 | PA      | $353436.68    | 0.40%             | 2032-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                       | IQVIA Inc                                                                        | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    102000 | PA      | $105972.90    | 0.12%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                               | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      7000 | PA      | $6931.38      | 0.01%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                               | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    106000 | PA      | $104672.00    | 0.12%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                               | Iron Mountain Inc                                                                | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      8000 | PA      | $8083.93      | 0.01%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| IRON MOUNTAIN INFO MGMT                         | Iron Mountain Information Management Services Inc                                | CUSIP: 46285MAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     23000 | PA      | $21996.89     | 0.03%             | 2032-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| iShares Broad USD High Yield Corporate Bond ETF | iShares Broad USD High Yield Corporate Bond ETF                                  | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |     43000 | NS      | $1618520.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: —       |
| JANE STREET GRP/JSG FIN                         | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12000 | PA      | $12222.08     | 0.01%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                         | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     84000 | PA      | $87371.65     | 0.10%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                    | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     54000 | PA      | $47455.20     | 0.05%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| JELD-WEN INC                                    | JELD-WEN Inc                                                                     | CUSIP: 47580PAA1<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     22000 | PA      | $13780.25     | 0.02%             | 2032-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                         | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     56000 | PA      | $56244.55     | 0.06%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| JONES DESLAURIERS INSURA                        | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |     69000 | PA      | $72145.99     | 0.08%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                        | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAE5<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |    153000 | PA      | $149134.13    | 0.17%             | 2033-10-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ARCHKEY SOLUTIONS LLC                           | Archkey Solutions LLC 2024 Term Loan B                                           | CUSIP: 48205CAC9<br>LEI: 254900FACU3AJQKAQ270 | Long             | LON              | CORP              | US        |      9301 | PA      | $9368.31      | 0.01%             | 2031-11-01      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| KBR INC                                         | KBR Inc                                                                          | CUSIP: 48242WAC0<br>LEI: 254900OFQDXZRKRCV808 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57257.63     | 0.07%             | 2028-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                         | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAP3<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |    170000 | PA      | $174159.05    | 0.20%             | 2031-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| K HOVNANIAN ENTERPRISES                         | K Hovnanian Enterprises Inc                                                      | CUSIP: 48251UAQ1<br>LEI: 549300JJCQ0KAI7CJG32 | Long             | DBT              | CORP              | US        |     62000 | PA      | $63363.69     | 0.07%             | 2033-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                            | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    133000 | PA      | $128394.76    | 0.15%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                            | Kaiser Aluminum Corp                                                             | CUSIP: 483007AM2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    237000 | PA      | $238761.62    | 0.27%             | 2034-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                               | Kaman Corporation 2025 Term Loan B                                               | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     43999 | PA      | $43938.19     | 0.05%             | 2032-02-26      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                        | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $24098.60     | 0.03%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CATURUS ENERGY LLC                              | Caturus Energy LLC                                                               | CUSIP: 49446BAA2<br>LEI: 254900LM244SIFQ1QY31 | Long             | DBT              | CORP              | US        |    185000 | PA      | $192886.55    | 0.22%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                             | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15179.06     | 0.02%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| ADVANCION SCIENCES INC                          | Advancion Sciences Inc                                                           | CUSIP: 499894AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108816 | PA      | $89229.12     | 0.10%             | 2026-11-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                         | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAC8<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     90000 | PA      | $93349.35     | 0.11%             | 2029-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                         | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAD6<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |     98000 | PA      | $100379.73    | 0.11%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                         | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAE4<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |    133000 | PA      | $137425.71    | 0.16%             | 2035-10-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                        | LABL Inc 2021 USD 1st Lien Term Loan                                             | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |     36250 | PA      | $16480.20     | 0.02%             | 2028-10-30      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| LABL INC                                        | LABL Inc                                                                         | CUSIP: 50168QAC9<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     18000 | PA      | $8190.00      | 0.01%             | 2028-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LABL INC                                        | LABL Inc                                                                         | CUSIP: 50168QAE5<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     93000 | PA      | $42315.00     | 0.05%             | 2028-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LABL INC                                        | LABL Inc                                                                         | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     28000 | PA      | $12740.00     | 0.01%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                   | LGI Homes Inc                                                                    | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35111.43     | 0.04%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| LCM INVESTMENTS HOLDINGS                        | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     17000 | PA      | $16751.54     | 0.02%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                        | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26336.43     | 0.03%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LSF12 CROWN US CORCAL BDCO LLC                  | LSF12 CROWN US CORCAL BDCO LLC 2026 TERM LOAN B                                  | CUSIP: 50221UAE1<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |     45662 | PA      | $45673.13     | 0.05%             | 2031-12-02      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                | Lamar Media Corp                                                                 | CUSIP: 513075CA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $41889.77     | 0.05%             | 2033-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Lamb Weston Holdings Inc                        | Lamb Weston Holdings Inc                                                         | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |       975 | NS      | $44781.75     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMB WESTON HLD                                 | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     26000 | PA      | $25100.28     | 0.03%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                 | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     29000 | PA      | $27628.75     | 0.03%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                         | Crescent Energy Finance LLC                                                      | CUSIP: 516806AK2<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39797.34     | 0.05%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Darktrace PLC                                   | Darktrace PLC 1st Lien Term Loan                                                 | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     15960 | PA      | $15520.91     | 0.02%             | 2031-10-09      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                           | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     17000 | PA      | $15769.55     | 0.02%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                           | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    445087 | PA      | $458658.15    | 0.52%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                           | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    533000 | PA      | $552084.07    | 0.63%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                           | Level 3 Financing Inc                                                            | CUSIP: 527298CQ4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    430000 | PA      | $440205.52    | 0.50%             | 2036-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                           | Level 3 Financing Inc 2025 Repriced Term Loan B4                                 | CUSIP: 52729KAU0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    116000 | PA      | $116029.00    | 0.13%             | 2032-03-29      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                               | Levi Strauss & Co                                                                | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |     49000 | PA      | $45823.22     | 0.05%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                         | Light & Wonder International Inc                                                 | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18836.03     | 0.02%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                         | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81000.00     | 0.09%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                            | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10905.77     | 0.01%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                            | LifePoint Health Inc                                                             | CUSIP: 53219LAX7<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |     57000 | PA      | $60136.12     | 0.07%             | 2032-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                            | LifePoint Health Inc                                                             | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    178000 | PA      | $193413.02    | 0.22%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                             | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |     31000 | PA      | $32996.21     | 0.04%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                        | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     57000 | PA      | $59504.41     | 0.07%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                               | Lithia Motors Inc                                                                | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     33000 | PA      | $33146.61     | 0.04%             | 2030-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                        | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     23000 | PA      | $22992.88     | 0.03%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| LIVE NATION ENTERTAINMEN                        | Live Nation Entertainment Inc                                                    | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13804.61     | 0.02%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LSF12 HELIX PARENT LLC                          | Lsf12 Helix Parent LLC                                                           | CUSIP: 548916AA3<br>LEI: 254900H70V4IL22BHL88 | Long             | DBT              | CORP              | US        |     86000 | PA      | $86252.44     | 0.10%             | 2033-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                          | Lumen Technologies Inc                                                           | CUSIP: 550241AK9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     59719 | PA      | $59719.00     | 0.07%             | 2032-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| MGM RESORTS INTL                                | MGM Resorts International                                                        | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52163.06     | 0.06%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                         | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              |  | US        |    287000 | PA      | $307479.46    | 0.35%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                 | Madison IAQ LLC                                                                  | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11856.24     | 0.01%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                 | Madison IAQ LLC                                                                  | CUSIP: 55760LAB3<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    161000 | PA      | $160799.81    | 0.18%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                        | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    397000 | PA      | $278892.50    | 0.32%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                    | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4725.07      | 0.01%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                        | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21807.37     | 0.02%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MAJORDRIVE HOLDINGS IV L                        | MajorDrive Holdings IV LLC                                                       | CUSIP: 56085RAA8<br>LEI: 25490044R1FR5N8FIT62 | Long             | DBT              | CORP              | US        |     46000 | PA      | $37005.84     | 0.04%             | 2029-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                           | Manitowoc Co Inc/The                                                             | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     19000 | PA      | $20636.05     | 0.02%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                            | Matador Resources Co                                                             | CUSIP: 576485AF3<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     26000 | PA      | $26565.55     | 0.03%             | 2028-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                            | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |     51000 | PA      | $51930.65     | 0.06%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                          | Match Group Holdings II LLC                                                      | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     34000 | PA      | $32047.02     | 0.04%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                          | Match Group Holdings II LLC                                                      | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     13000 | PA      | $11772.31     | 0.01%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                          | Match Group Holdings II LLC                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     85000 | PA      | $85315.62     | 0.10%             | 2033-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                              | Mattamy Group Corp                                                               | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |     26000 | PA      | $25387.52     | 0.03%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                              | Mattamy Group Corp                                                               | CUSIP: 57701RAQ5<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $14738.53     | 0.02%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                          | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |    602000 | PA      | $613287.50    | 0.70%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                          | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44266.66     | 0.05%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Company      | Mauser Packaging Solutions Holding Company 2025 Term Loan B                      | CUSIP: 57763TAF0<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |     73000 | PA      | $71110.03     | 0.08%             | 2030-04-15      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                     | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     42000 | PA      | $33415.16     | 0.04%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                        | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $78440.41     | 0.09%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                           | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $197840.00    | 0.23%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORP                             | Meritage Homes Corp                                                              | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     87000 | PA      | $88283.70     | 0.10%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| METHANEX US OPERATIONS                          | Methanex US Operations Inc                                                       | CUSIP: 59151LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     33000 | PA      | $34030.13     | 0.04%             | 2032-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| MICROCHIP TECHNOLOGY INC                        | Microchip Technology Inc                                                         | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |      1367 | NS      | $91370.28     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMMUNICATI                        | Midcontinent Communications                                                      | CUSIP: 59565XAD2<br>LEI: 549300ZI9GDQBS28C408 | Long             | DBT              | CORP              | US        |     22000 | PA      | $21167.73     | 0.02%             | 2032-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| MIDCAP FINANCIAL ISSR TR                        | Midcap Financial Issuer Trust                                                    | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $200373.80    | 0.23%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                        | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                        | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $17682.17     | 0.02%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                         | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |    106000 | PA      | $108192.61    | 0.12%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                         | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |    178000 | PA      | $180007.66    | 0.21%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MINERALS TECHNOLOGIES IN                        | Minerals Technologies Inc                                                        | CUSIP: 603158AA4<br>LEI: 549300D3I1QU67GP6403 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35730.00     | 0.04%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                          | AthenaHealth Group Inc                                                           | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |    730000 | PA      | $707986.12    | 0.81%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                         | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC          | CUSIP: 60832QAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $63601.65     | 0.07%             | 2030-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                           | Molina Healthcare Inc                                                            | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17119.94     | 0.02%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| MOLINA HEALTHCARE INC                           | Molina Healthcare Inc                                                            | CUSIP: 60855RAN0<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    107000 | PA      | $109658.74    | 0.13%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                             | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    301000 | PA      | $301520.13    | 0.34%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                             | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     57000 | PA      | $58413.94     | 0.07%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                             | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      8000 | PA      | $8021.90      | 0.01%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                             | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    229000 | PA      | $230265.23    | 0.26%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| NGL ENRGY OP/FIN CORP                           | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAC2<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |     84000 | PA      | $87169.24     | 0.10%             | 2029-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY OP/FIN CORP                           | NGL Energy Operating LLC / NGL Energy Finance Corp                               | CUSIP: 62922LAD0<br>LEI: 5299005YSRP46BE8Z459 | Long             | DBT              | CORP              | US        |    133000 | PA      | $139205.51    | 0.16%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     66000 | PA      | $72681.91     | 0.08%             | 2028-03-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    119000 | PA      | $121283.37    | 0.14%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    147000 | PA      | $150909.17    | 0.17%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     63000 | PA      | $62762.42     | 0.07%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    122000 | PA      | $122809.10    | 0.14%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                  | NRG Energy Inc                                                                   | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    448000 | PA      | $452675.78    | 0.52%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| NABORS INDUSTRIES INC                           | Nabors Industries Inc                                                            | CUSIP: 62957HAR6<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27505.01     | 0.03%             | 2032-11-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                    | Navient Corp                                                                     | CUSIP: 63938CAN8<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11846.40     | 0.01%             | 2030-07-25      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                    | Navient Corp                                                                     | CUSIP: 63938CAQ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     44000 | PA      | $44410.12     | 0.05%             | 2032-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| NEPTUNE BIDCO US INC                            | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40045.43     | 0.05%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                            | Neptune Bidco US Inc                                                             | CUSIP: 640695AC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     49000 | PA      | $51807.39     | 0.06%             | 2031-05-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                            | Neptune Bidco US Inc                                                             | CUSIP: 640695AD4<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     81000 | PA      | $82479.56     | 0.09%             | 2033-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco US Inc                            | Neptune Bidco US Inc 2022 USD Term Loan B                                        | CUSIP: 64069JAC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |     48795 | PA      | $48750.79     | 0.06%             | 2029-04-11      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                | CSC Holdings LLC 2019 Term Loan B5                                               | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     52857 | PA      | $47095.37     | 0.05%             | 2027-04-15      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| NEW ENTERPRISE STONE & L                        | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AG7<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     87000 | PA      | $87435.00     | 0.10%             | 2028-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| NEW ENTERPRISE STONE & L                        | New Enterprise Stone & Lime Co Inc                                               | CUSIP: 644274AH5<br>LEI: 549300O5DQ5Y61B8VF38 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35009.38     | 0.04%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                    | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |     90000 | PA      | $95618.25     | 0.11%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                             | New Home Co Inc/The                                                              | CUSIP: 645370AF4<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     81000 | PA      | $85352.05     | 0.10%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                             | New Home Co Inc/The                                                              | CUSIP: 645370AG2<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13541.42     | 0.02%             | 2030-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                               | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     23000 | PA      | $24114.24     | 0.03%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                          | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KDB3<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21250.54     | 0.02%             | 2054-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                          | NextEra Energy Capital Holdings Inc                                              | CUSIP: 65339KDE7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     38000 | PA      | $39246.67     | 0.04%             | 2055-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| XPLR INFRASTRUCTURE LP                          | XPLR Infrastructure LP                                                           | CUSIP: 65341BAG1<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | DBT              | CORP              | US        |    199000 | PA      | $195278.70    | 0.22%             | 2026-06-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                         | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    174000 | PA      | $173516.98    | 0.20%             | 2030-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                 | Nissan Motor Co Ltd                                                              | CUSIP: 654922AC7<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $211075.42    | 0.24%             | 2032-07-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                            | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9000 | PA      | $9382.09      | 0.01%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                          | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     71000 | PA      | $71682.95     | 0.08%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NORTHRIVER MIDSTREAM FIN                        | Northriver Midstream Finance LP                                                  | CUSIP: 66679NAB6<br>LEI: 549300SOLNLY3BL6GF18 | Long             | DBT              | CORP              | CA        |     27000 | PA      | $27470.10     | 0.03%             | 2032-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                    | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11625.18     | 0.01%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                    | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    129000 | PA      | $118043.71    | 0.14%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                    | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     58000 | PA      | $60114.16     | 0.07%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                    | Novelis Corp                                                                     | CUSIP: 670001AN6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    320000 | PA      | $325963.20    | 0.37%             | 2033-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                               | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18660.09     | 0.02%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                            | Oceaneering International Inc                                                    | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27434.27     | 0.03%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| OLYMPUS WTR US HLDG CORP                        | Olympus Water US Holding Corp                                                    | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205009.40    | 0.23%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                        | Olympus Water US Holding Corp                                                    | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    400000 | PA      | $398443.38    | 0.46%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Olympus Water US Holding Corporation            | Olympus Water US Holding Corporation 2025 USD Term Loan B                        | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |     76000 | PA      | $74701.92     | 0.09%             | 2032-11-03      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| ON SEMICONDUCTOR CORP                           | ON Semiconductor Corp                                                            | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37117.63     | 0.04%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                        | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     12000 | PA      | $11929.09     | 0.01%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                        | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     43000 | PA      | $41027.43     | 0.05%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     69000 | PA      | $64717.00     | 0.07%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     46000 | PA      | $48523.65     | 0.06%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11531.77     | 0.01%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     31000 | PA      | $32123.07     | 0.04%             | 2031-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30923.31     | 0.04%             | 2029-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AJ9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29639.31     | 0.03%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AK6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    125000 | PA      | $129450.13    | 0.15%             | 2032-09-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AL4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     16000 | PA      | $16310.32     | 0.02%             | 2030-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AM2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    194000 | PA      | $194994.06    | 0.22%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 682691AN0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151662.50    | 0.17%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| OneDigital Borrower LLC                         | OneDigital Borrower LLC 2025 Repriced Term Loan                                  | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |      6965 | PA      | $6941.45      | 0.01%             | 2031-07-02      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| ONESKY FLIGHT LLC                               | OneSky Flight LLC                                                                | CUSIP: 68278CAA3<br>LEI: 549300PM6NEPXGG5B882 | Long             | DBT              | CORP              | US        |     35000 | PA      | $37423.19     | 0.04%             | 2029-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                  | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    800000 | PA      | $821005.59    | 0.94%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                    | Fibercop SpA                                                                     | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $194218.43    | 0.22%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                          | Option Care Health Inc                                                           | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29358.49     | 0.03%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                             | Orion US Finco Inc 1st Lien Term Loan                                            | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     13000 | PA      | $12991.94     | 0.01%             | 2032-10-08      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                        | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24994.84     | 0.03%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                        | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     17000 | PA      | $16599.80     | 0.02%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| OUTFRONT MEDIA CAP LLC/C                        | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    111000 | PA      | $108344.33    | 0.12%             | 2029-01-15      | Fixed         | 4.25%                 | 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        |     22000 | PA      | $23169.65     | 0.03%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II                        | Blue Owl Capital Corp II                                                         | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |     11000 | PA      | $11264.31     | 0.01%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                           | Blue Owl Capital Corp                                                            | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46418.65     | 0.05%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                              | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $35047.32     | 0.04%             | 2030-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| PNC FINANCIAL SERVICES                          | PNC Financial Services Group Inc/The                                             | CUSIP: 693475BP9<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     17000 | PA      | $17558.21     | 0.02%             | 2030-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pye-Barker Fire & Safety, LLC                   | Pye-Barker Fire & Safety LLC 2025 Delayed Draw Term Loan                         | CUSIP: 69380SAC7<br>LEI: 254900K8RDMGUBC44870 | Long             | LON              | CORP              | US        |      4810 | PA      | $4807.98      | 0.01%             | 2032-12-16      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                           | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    554000 | PA      | $570579.00    | 0.65%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                          | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              |  | US        |     47000 | PA      | $48422.64     | 0.06%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PATTERN ENERGY OP LP/PAT                        | Pattern Energy Operations LP / Pattern Energy Operations Inc                     | CUSIP: 70339PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $18817.09     | 0.02%             | 2028-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PEBBLEBROOK HOTEL/FINANC                        | Pebblebrook Hotel LP / PEB Finance Corp                                          | CUSIP: 70510LAA7<br>LEI: N/A                  | Long             | DBT              |  | US        |     18000 | PA      | $18402.35     | 0.02%             | 2029-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                           | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     42000 | PA      | $43360.63     | 0.05%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                           | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    158000 | PA      | $161469.52    | 0.18%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                           | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    117000 | PA      | $118068.80    | 0.14%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                        | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9791.52      | 0.01%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                        | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41082.32     | 0.05%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| PERIMETER HOL                                   | Perimeter Holdings LLC                                                           | CUSIP: 71384AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    156000 | PA      | $156006.24    | 0.18%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                        | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41932.04     | 0.05%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                        | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     82000 | PA      | $84472.38     | 0.10%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                        | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |     64000 | PA      | $62945.72     | 0.07%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| PHOENIX AVIATION CAPITAL                        | Phoenix Aviation Capital Ltd                                                     | CUSIP: 71910DAA9<br>LEI: 8945008YQAKXZQ3VYJ15 | Long             | DBT              | CORP              | IE        |    246000 | PA      | $257814.13    | 0.29%             | 2030-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Parexel International Corporation               | Parexel International Corporation 2025 Repriced Term Loan B                      | CUSIP: 71911KAF1<br>LEI: 549300GCZVUYB6P2OA17 | Long             | LON              | CORP              | US        |     34065 | PA      | $34036.77     | 0.04%             | 2031-12-12      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Pinnacle Buyer LLC                              | Pinnacle Buyer LLC Term Loan                                                     | CUSIP: 72349UAB8<br>LEI: 254900F51XXB8NHJPB58 | Long             | LON              | CORP              | US        |     22952 | PA      | $22952.35     | 0.03%             | 2032-10-01      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| PLAYTIKA HOLDING CORP                           | Playtika Holding Corp                                                            | CUSIP: 72815LAA5<br>LEI: 254900E35Z4TKA4UFG64 | Long             | DBT              | CORP              | US        |     18000 | PA      | $15633.45     | 0.02%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                               | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     31000 | PA      | $29368.29     | 0.03%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                               | Post Holdings Inc                                                                | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47360.40     | 0.05%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| POST HOLDINGS INC                               | Post Holdings Inc                                                                | CUSIP: 737446AY0<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    122000 | PA      | $122110.26    | 0.14%             | 2036-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PRAIRIE ACQUIROR LP                             | Prairie Acquiror LP                                                              | CUSIP: 73943NAA4<br>LEI: 254900Q6KU2LVSIISH22 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33190.43     | 0.04%             | 2029-08-01      | Fixed         | 9.00%                 | 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        |     95000 | PA      | $60961.50     | 0.07%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                        | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $18742.50     | 0.02%             | 2029-09-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                  | Proofpoint Inc 2025 Repriced Term Loan                                           | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |      8977 | PA      | $8904.27      | 0.01%             | 2028-08-31      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                         | PUG LLC 2024 Extended Term Loan B                                                | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |     25643 | PA      | $25562.99     | 0.03%             | 2030-03-15      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                           | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     79000 | PA      | $80478.41     | 0.09%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                           | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |     38000 | PA      | $39219.57     | 0.04%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                           | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    233000 | PA      | $240101.84    | 0.27%             | 2032-04-30      | Fixed         | 6.75%                 | 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        |      2000 | PA      | $1877.44      | 0.00%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                           | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    234000 | PA      | $242679.44    | 0.28%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                           | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    134000 | PA      | $139208.31    | 0.16%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                        | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     18000 | PA      | $17739.42     | 0.02%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                        | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              |  | US        |     45000 | PA      | $46536.80     | 0.05%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                        | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |    248000 | PA      | $257074.82    | 0.29%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                            | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |     20000 | PA      | $18979.20     | 0.02%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                              | Radiate Holdco LLC 2025 FLFO Term Loan                                           | CUSIP: 75025KAM0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |     65063 | PA      | $55791.43     | 0.06%             | 2029-09-25      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| RAND PARENT LLC                                 | Rand Parent LLC                                                                  | CUSIP: 753272AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     39000 | PA      | $40755.41     | 0.05%             | 2030-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                        | Raven Acquisition Holdings LLC                                                   | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $43091.38     | 0.05%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANYWHERE REAL EST/CO-ISS                        | Anywhere Real Estate Group LLC / Anywhere Co-Issuer Corp                         | CUSIP: 75606DAS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     31024 | PA      | $31410.96     | 0.04%             | 2030-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ANYWHERE RE GRP/REALOGY                         | Anywhere Real Estate Group LLC / Realogy Co-Issuer Corp                          | CUSIP: 75606DAV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $22920.56     | 0.03%             | 2030-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| RESILIENCE PARENT LLC                           | RESILIENCE PARENT LLC TERM LOAN B                                                | CUSIP: 75908HAC1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     59000 | PA      | $58926.25     | 0.07%             | 2033-01-21      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                            | LifePoint Health Inc 2024 1st Lien Term Loan B                                   | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     79946 | PA      | $79862.68     | 0.09%             | 2031-05-19      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                            | LifePoint Health Inc 2024 Incremental Term Loan B1                               | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     54335 | PA      | $54153.76     | 0.06%             | 2031-05-19      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| RESIDEO FUNDING INC                             | Resideo Funding Inc                                                              | CUSIP: 76119LAB7<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     41000 | PA      | $39494.15     | 0.05%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| RESIDEO FUNDING INC                             | Resideo Funding Inc                                                              | CUSIP: 76119LAD3<br>LEI: 5493000IFJ6XJKH66598 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27425.55     | 0.03%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                               | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     27000 | PA      | $27481.73     | 0.03%             | 2033-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                               | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     28000 | PA      | $28424.42     | 0.03%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RIVIAN HLD/AUTO LLC                             | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC                             | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $34927.51     | 0.04%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                        | TGNR Intermediate Holdings LLC                                                   | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |     48000 | PA      | $47498.68     | 0.05%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                  | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    217000 | PA      | $222166.55    | 0.25%             | 2030-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                  | Rocket Cos Inc                                                                   | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $248990.64    | 0.28%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                  | Rocket Cos Inc                                                                   | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $75089.26     | 0.09%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                  | Rocket Cos Inc                                                                   | CUSIP: 77311WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164000 | PA      | $171377.87    | 0.20%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                        | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $48333.54     | 0.06%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                        | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5000 | PA      | $4591.15      | 0.01%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| RYAN SPECIALTY                                  | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48797.46     | 0.06%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                            | Ryan Specialty LLC                                                               | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17536.10     | 0.02%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                         | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |     43000 | PA      | $41069.81     | 0.05%             | 2029-02-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                           | SS&C Technologies Inc                                                            | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |     67000 | PA      | $69172.41     | 0.08%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| State Street Blackstone Senior Loan ETF         | State Street Blackstone Senior Loan ETF                                          | CUSIP: 78467V608<br>LEI: 549300ME4SR63Y3TRD06 | Long             | EC               | RF                | US        |      8800 | NS      | $360448.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Springs Windows Fashions LLC                    | Springs Windows Fashions LLC 2024 FLFO A1 Term Loan                              | CUSIP: 78489HAG3<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |      5742 | PA      | $5696.11      | 0.01%             | 2029-12-19      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| SABLE INTL FINANCE LTD                          | Sable International Finance Ltd                                                  | CUSIP: 785712AK6<br>LEI: 2138009IE9A35LO5JS73 | Long             | DBT              | CORP              | KY        |    200000 | PA      | $202574.00    | 0.23%             | 2032-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                  | Sabre GLBL Inc 2024 Term Loan B1                                                 | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      9050 | PA      | $7064.73      | 0.01%             | 2029-11-15      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                  | Sabre GLBL Inc 2024 Term Loan B2                                                 | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      4966 | PA      | $3852.84      | 0.00%             | 2029-11-15      | Floating      | 9.77%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                  | Sabre GLBL Inc 2025 Term Loan B1                                                 | CUSIP: 78571YBM1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2029-07-30      | Floating      | 10.02%                | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                  | Sabre GLBL Inc 2025 11th Amendment Term Loan B2                                  | CUSIP: 78571YBN9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      5458 | PA      | $4234.19      | 0.00%             | 2029-07-30      | Floating      | 10.02%                | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                  | Sabre GLBL Inc                                                                   | CUSIP: 78573NAN2<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     28000 | PA      | $22470.00     | 0.03%             | 2030-03-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| SABRE FINANCIAL BORROWER                        | Sabre Financial Borrower LLC                                                     | CUSIP: 78573XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    104000 | PA      | $105181.44    | 0.12%             | 2029-06-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                              | Mativ Holdings Inc                                                               | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27193.29     | 0.03%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| SCIENCE APPLICATIONS INT                        | Science Applications International Corp                                          | CUSIP: 808625AA5<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27929.13     | 0.03%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SCIENCE APPLICATIONS INT                        | Science Applications International Corp                                          | CUSIP: 808625AB3<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48377.66     | 0.06%             | 2033-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SC GAMES HOLDIN/US FINCO                        | Scientific Games Holdings LP/Scientific Games US FinCo Inc                       | CUSIP: 80874DAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     43000 | PA      | $39238.38     | 0.04%             | 2030-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                           | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17723.62     | 0.02%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| SEAGATE DATA STOR                               | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     56000 | PA      | $57689.97     | 0.07%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                 | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11954.38     | 0.01%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                        | Sealed Air Corp/Sealed Air Corp US                                               | CUSIP: 812127AB4<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |      6000 | PA      | $6247.67      | 0.01%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                 | Sealed Air Corp                                                                  | CUSIP: 812127AC2<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10381.45     | 0.01%             | 2032-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     83000 | PA      | $81160.21     | 0.09%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                        | Sensata Technologies Inc                                                         | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |     51000 | PA      | $47792.60     | 0.05%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                        | Sensata Technologies Inc                                                         | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $208928.40    | 0.24%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                               | Service Corp International/US                                                    | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47581.03     | 0.05%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                               | Service Corp International/US                                                    | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    143000 | PA      | $145268.41    | 0.17%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                        | Service Properties Trust                                                         | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    318000 | PA      | $333989.04    | 0.38%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                        | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |     86000 | PA      | $85361.39     | 0.10%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                        | Service Properties Trust                                                         | CUSIP: 81761LAF9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    114000 | PA      | $103200.35    | 0.12%             | 2027-09-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS INC                             | Shift4 Payments Inc                                                              | CUSIP: 82452J307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       213 | NS      | $16004.82     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                         | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $280552.80    | 0.32%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                        | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     19000 | PA      | $18311.84     | 0.02%             | 2029-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                        | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    151000 | PA      | $156197.42    | 0.18%             | 2033-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                             | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     56000 | PA      | $55902.66     | 0.06%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                             | Sirius XM Radio LLC                                                              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24420.49     | 0.03%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                             | Sirius XM Radio LLC                                                              | CUSIP: 82967NBL1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     71000 | PA      | $70572.93     | 0.08%             | 2026-09-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CAN WON/MILLEN                        | Six Flags Entertainment Corp/Canada's Wonderland Co/Millennium Operations LLC    | CUSIP: 83003AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25511.25     | 0.03%             | 2032-01-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                        | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164184.80    | 0.19%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| SNAP INC                                        | Snap Inc                                                                         | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    177000 | PA      | $180739.06    | 0.21%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                        | Solstice Advanced Materials Inc                                                  | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106560.32    | 0.12%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                       | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199224.22    | 0.23%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                         | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |     34000 | PA      | $35775.31     | 0.04%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                            | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24934.14     | 0.03%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                       | Block Inc                                                                        | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     66000 | PA      | $65608.47     | 0.08%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                       | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    140000 | PA      | $145453.49    | 0.17%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                       | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61070.58     | 0.07%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                       | Block Inc                                                                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    108000 | PA      | $110320.15    | 0.13%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                        | Standard Building Solutions Inc                                                  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31965.25     | 0.04%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                        | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    299000 | PA      | $305624.94    | 0.35%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                        | Standard Building Solutions Inc                                                  | CUSIP: 853192AA0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59941.73     | 0.07%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                        | Standard Industries Inc/NY                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28941.35     | 0.03%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                        | Standard Industries Inc/NY                                                       | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |     34000 | PA      | $31376.55     | 0.04%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STAPLES INC                                     | Staples Inc                                                                      | CUSIP: 855030AQ5<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35374.77     | 0.04%             | 2029-09-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Star Holding LLC                                | Star Holding LLC 2024 1st Lien Term Loan B                                       | CUSIP: 85512FAC2<br>LEI: 254900BDGPE9N1WAKD59 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2031-07-31      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                 | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |     47000 | PA      | $49607.18     | 0.06%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                         | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     30000 | PA      | $31638.69     | 0.04%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                         | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     24000 | PA      | $24668.62     | 0.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                         | Starwood Property Trust Inc                                                      | CUSIP: 85571BBD6<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     18000 | PA      | $18744.57     | 0.02%             | 2030-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                         | Starwood Property Trust Inc                                                      | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     73000 | PA      | $76025.05     | 0.09%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                             | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     36000 | PA      | $35835.61     | 0.04%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                             | Station Casinos LLC                                                              | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     54000 | PA      | $55232.87     | 0.06%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| STL HOLDING CO LLC                              | STL Holding Co LLC                                                               | CUSIP: 861036AB7<br>LEI: 984500BC2I63E7F48656 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29444.21     | 0.03%             | 2029-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| STONEPEAK NILE PARENT                           | Stonepeak Nile Parent LLC                                                        | CUSIP: 861932AA9<br>LEI: 254900TJV3VAFZD0GU41 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10563.94     | 0.01%             | 2032-03-15      | Fixed         | 7.25%                 | 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        |     36000 | PA      | $34575.72     | 0.04%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Summit Acquisition Inc                          | Summit Acquisition Inc 2025 Add-on Term Loan                                     | CUSIP: 86600DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19910 | PA      | $19953.70     | 0.02%             | 2031-10-16      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                       | Sunoco LP                                                                        | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27697.14     | 0.03%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                       | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    399000 | PA      | $410981.97    | 0.47%             | 2030-09-18      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                       | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24147.10     | 0.03%             | 2031-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                       | Sunoco LP                                                                        | CUSIP: 86765KAG4<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     24000 | PA      | $24063.91     | 0.03%             | 2034-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                       | Sunoco LP                                                                        | CUSIP: 86765KAL3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31971.27     | 0.04%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                         | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAF9<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    321000 | PA      | $323186.90    | 0.37%             | 2032-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Star Parent Inc                                 | Star Parent Inc Term Loan B                                                      | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |     70715 | PA      | $70727.26     | 0.08%             | 2030-09-27      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                         | Talen Energy Supply LLC                                                          | CUSIP: 87422VAK4<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |     13000 | PA      | $13716.43     | 0.02%             | 2030-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                         | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     23000 | PA      | $22992.06     | 0.03%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                         | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $165867.52    | 0.19%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                            | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAK8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     22000 | PA      | $22581.24     | 0.03%             | 2032-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                          | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     93000 | PA      | $103901.93    | 0.12%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                             | Somnigroup International Inc                                                     | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |     39000 | PA      | $37836.25     | 0.04%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                           | Tenet Healthcare Corp                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     84000 | PA      | $87246.85     | 0.10%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                           | Tenet Healthcare Corp                                                            | CUSIP: 88033GDV9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     57000 | PA      | $58654.82     | 0.07%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| TENNECO INC                                     | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69410.62     | 0.08%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                     | Tenneco Inc 2022 Term Loan A                                                     | CUSIP: 88037HAN4<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |      4186 | PA      | $4130.03      | 0.00%             | 2028-11-17      | Floating      | 8.74%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                     | Tenneco Inc 2022 Term Loan B                                                     | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |     72598 | PA      | $71788.53     | 0.08%             | 2028-11-17      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                      | Terex Corp                                                                       | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |      8000 | PA      | $7974.69      | 0.01%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                      | Terex Corp                                                                       | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |     72000 | PA      | $73721.46     | 0.08%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| CMG Media Corporation                           | CMG Media Corporation 2024 Term Loan                                             | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     60909 | PA      | $56797.55     | 0.06%             | 2029-06-18      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                         | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    107000 | PA      | $106210.34    | 0.12%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                          | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    179000 | PA      | $177884.39    | 0.20%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TIDEWATER INC                                   | Tidewater Inc                                                                    | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     34000 | PA      | $36777.15     | 0.04%             | 2030-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                                  | TransAlta Corp                                                                   | CUSIP: 89346DAL1<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |     46000 | PA      | $46036.80     | 0.05%             | 2034-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    201000 | PA      | $207828.57    | 0.24%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                    | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    226000 | PA      | $230269.82    | 0.26%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    484000 | PA      | $492717.81    | 0.56%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                   | TransDigm Inc                                                                    | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     34000 | PA      | $35137.95     | 0.04%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| TRANSDIGM INC                                   | TransDigm Inc                                                                    | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    490000 | PA      | $507157.84    | 0.58%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRANSMONTAIGNE PARTNERS                         | TransMontaigne Partners LLC                                                      | CUSIP: 89377AAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     16000 | PA      | $16598.69     | 0.02%             | 2030-06-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                        | Transocean International Ltd                                                     | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     37000 | PA      | $39028.93     | 0.04%             | 2032-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                        | Transocean International Ltd                                                     | CUSIP: 893830BX6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     36000 | PA      | $37527.62     | 0.04%             | 2030-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                        | Transocean International Ltd                                                     | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     20000 | PA      | $20377.40     | 0.02%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                        | Transocean International Ltd                                                     | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |     45000 | PA      | $45805.19     | 0.05%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| TRANSOCEAN TITAN FIN LTD                        | Transocean Titan Financing Ltd                                                   | CUSIP: 89386MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |      2429 | PA      | $2477.40      | 0.00%             | 2028-02-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                           | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAD8<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    180000 | PA      | $192073.32    | 0.22%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                   | Truist Insurance Holdings LLC 2nd Lien Term Loan                                 | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29901 | PA      | $29975.80     | 0.03%             | 2032-05-06      | Floating      | 8.42%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                      | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46922.39     | 0.05%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| X Corp.                                         | X Corp 2025 Fixed Term Loan                                                      | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    228500 | PA      | $236211.88    | 0.27%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| COHERENT CORP                                   | Coherent Corp                                                                    | CUSIP: 902104AC2<br>LEI: 549300O5C25A0MMHHU33 | Long             | DBT              | CORP              | US        |     54000 | PA      | $53776.69     | 0.06%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                    | UBS Group AG                                                                     | CUSIP: 902613BE7<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $233915.93    | 0.27%             | 2033-11-13      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                    | UBS Group AG                                                                     | CUSIP: 902613BS6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $203270.80    | 0.23%             | 2035-02-05      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UKG INC                                         | UKG Inc                                                                          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    263000 | PA      | $262788.00    | 0.30%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                    | US Foods Inc                                                                     | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |     33000 | PA      | $32867.86     | 0.04%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| USI INC/NY                                      | USI Inc/NY                                                                       | CUSIP: 90346KAB5<br>LEI: 2549006D7UF7072T7I27 | Long             | DBT              | CORP              | US        |    187000 | PA      | $195764.69    | 0.22%             | 2032-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                | UWM Holdings LLC                                                                 | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $117001.54    | 0.13%             | 2030-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $94399.83     | 0.11%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| US ACUTE CARE SOLUTIONS                         | US Acute Care Solutions LLC                                                      | CUSIP: 90367UAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     77000 | PA      | $77337.18     | 0.09%             | 2029-05-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                        | United Airlines Holdings Inc                                                     | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69685.24     | 0.08%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                        | United Natural Foods Inc                                                         | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |     47000 | PA      | $47082.81     | 0.05%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                         | United Rentals North America Inc                                                 | CUSIP: 911365BS2<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    149000 | PA      | $148912.38    | 0.17%             | 2033-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                         | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $137020.00    | 0.16%             | 2032-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                        | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247679.28    | 0.28%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                        | Univision Communications Inc                                                     | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     88000 | PA      | $91771.42     | 0.10%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                        | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    144000 | PA      | $155038.46    | 0.18%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                        | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     77000 | PA      | $79727.26     | 0.09%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                        | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    201000 | PA      | $203612.40    | 0.23%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                | Vail Resorts Inc                                                                 | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     36000 | PA      | $37308.71     | 0.04%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                | Vail Resorts Inc                                                                 | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |     31000 | PA      | $31484.38     | 0.04%             | 2030-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                     | Valaris Ltd                                                                      | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     33000 | PA      | $34482.03     | 0.04%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                           | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     55000 | PA      | $60300.24     | 0.07%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                           | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     58000 | PA      | $64675.97     | 0.07%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                           | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    138000 | PA      | $143216.17    | 0.16%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                           | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    378000 | PA      | $396242.25    | 0.45%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                           | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    147000 | PA      | $151307.39    | 0.17%             | 2030-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                          | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    105000 | PA      | $107395.58    | 0.12%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| VENTURE GLOBAL LNG INC                          | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    216000 | PA      | $230011.92    | 0.26%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| VENTURE GLOBAL LNG INC                          | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    116000 | PA      | $122646.34    | 0.14%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| VENTURE GLOBAL LNG INC                          | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      4000 | PA      | $4024.78      | 0.00%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| VENTURE GLOBAL LNG INC                          | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    310000 | PA      | $272714.21    | 0.31%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| VERITIV OPERATING CO                            | Veritiv Operating Co                                                             | CUSIP: 92339LAA0<br>LEI: 5493004G8OK5L1UTIY12 | Long             | DBT              | CORP              | US        |     21000 | PA      | $22485.69     | 0.03%             | 2030-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                         | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27669.32     | 0.03%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                        | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41359.73     | 0.05%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                        | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    375000 | PA      | $375109.13    | 0.43%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIAVI SOLUTIONS INC                             | Viavi Solutions Inc                                                              | CUSIP: 925550AF2<br>LEI: 5493006K3E3N1QOBF092 | Long             | DBT              | CORP              | US        |     52000 | PA      | $49424.53     | 0.06%             | 2029-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VICI Properties Inc                             | VICI Properties Inc                                                              | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |      5932 | NS      | $166570.56    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING CRUISES LTD                              | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     73000 | PA      | $77859.61     | 0.09%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                              | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    147000 | PA      | $149027.37    | 0.17%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                        | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     17000 | PA      | $17000.71     | 0.02%             | 2029-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                     | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27497.80     | 0.03%             | 2026-10-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                     | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    179000 | PA      | $181707.20    | 0.21%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| VISTRA OPERATIONS CO LLC                        | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     98000 | PA      | $102972.52    | 0.12%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $180939.23    | 0.21%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $182751.50    | 0.21%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                   | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    372000 | PA      | $376765.82    | 0.43%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                              | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |     68000 | PA      | $72237.76     | 0.08%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                            | WR Grace Holdings LLC                                                            | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    339000 | PA      | $323975.28    | 0.37%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                            | WR Grace Holdings LLC                                                            | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     62000 | PA      | $63286.00     | 0.07%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                            | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    244000 | PA      | $242652.19    | 0.28%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                            | WR Grace Holdings LLC                                                            | CUSIP: 92943GAH4<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     68000 | PA      | $68085.00     | 0.08%             | 2033-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                              | WR Grace & Co-Conn 2025 Term Loan B                                              | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |     24938 | PA      | $24823.29     | 0.03%             | 2032-08-19      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| LUXCO3 SHARES                                   | LUXCO3 SHARES                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |      2037 | NS      | $38338.34     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| WALKER & DUNLOP INC                             | Walker & Dunlop Inc                                                              | CUSIP: 93148PAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $22551.83     | 0.03%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                       | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |     50808 | PA      | $50753.27     | 0.06%             | 2031-01-30      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                | Wand NewCo 3 Inc                                                                 | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |     81000 | PA      | $85167.29     | 0.10%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                   | CoreLogic Inc 2nd Lien Term Loan                                                 | CUSIP: 000000000<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |     30000 | PA      | $29625.00     | 0.03%             | 2029-06-04      | Floating      | 10.29%                | No            |                  3 | On Loan: No      |
| WASTE PRO USA INC                               | Waste Pro USA Inc                                                                | CUSIP: 94107JAC7<br>LEI: 549300BY1QXU5BI3UF28 | Long             | DBT              | CORP              | US        |    440000 | PA      | $452040.60    | 0.52%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WATCO COS LLC/FINANCE CO                        | Watco Cos LLC / Watco Finance Corp                                               | CUSIP: 941130AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36000 | PA      | $37738.44     | 0.04%             | 2032-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                        | Weatherford International Ltd                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |    175000 | PA      | $181252.58    | 0.21%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                        | Weekley Homes LLC / Weekley Finance Corp                                         | CUSIP: 948565AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $37190.14     | 0.04%             | 2034-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                           | Wells Fargo & Co                                                                 | CUSIP: 95002YAC7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     36000 | PA      | $37650.40     | 0.04%             | 2029-09-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: —       |
| WESCO DISTRIBUTION INC                          | WESCO Distribution Inc                                                           | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14628.53     | 0.02%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                          | WESCO Distribution Inc                                                           | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14577.78     | 0.02%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT CALI INC                                | ALLIANT CALI INC                                                                 | CUSIP: 000000000<br>LEI: 5493008LW2651I1QB503 | Long             | EC               | CORP              | US        |       332 | NS      | $352517.60    | 0.40%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WEX INC                                         | WEX Inc                                                                          | CUSIP: 96208TAD6<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | DBT              | CORP              | US        |     76000 | PA      | $77570.16     | 0.09%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| BlackRock Funds III                             | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   5569335 | NS      | $5572120.14   | 6.37%             |  |  |  | No            |                  1 | On Loan: No      |
| White Cap Buyer LLC                             | White Cap Buyer LLC 2024 Term Loan B                                             | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |     59791 | PA      | $59604.34     | 0.07%             | 2029-10-19      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| WHITE CAP SUPPLY HOLDING                        | White Cap Supply Holdings LLC                                                    | CUSIP: 96467GAC2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |    434000 | PA      | $450788.42    | 0.52%             | 2030-11-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                        | Wildfire Intermediate Holdings LLC                                               | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |     92000 | PA      | $93268.31     | 0.11%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                           | Williams Scotsman Inc                                                            | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     39000 | PA      | $40661.13     | 0.05%             | 2031-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| WILLIAMS SCOTSMAN INC                           | Williams Scotsman Inc                                                            | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     32000 | PA      | $33155.55     | 0.04%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Wilsonart LLC                                   | Wilsonart LLC 2024 Term Loan B                                                   | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |     23420 | PA      | $22646.85     | 0.03%             | 2031-08-05      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| WILSONART LLC                                   | Wilsonart LLC                                                                    | CUSIP: 97246JAA6<br>LEI: 549300SAZRUMYKDJBY14 | Long             | DBT              | CORP              | US        |     58000 | PA      | $52977.87     | 0.06%             | 2032-08-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: —       |
| WINDSTREAM SERVICES/ESCR                        | Windstream Services LLC / Windstream Escrow Finance Corp                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    403000 | PA      | $422152.58    | 0.48%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Windstream Services LLC                         | Windstream Services LLC 2024 Term Loan B                                         | CUSIP: 97381JAJ2<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |     38032 | PA      | $38222.66     | 0.04%             | 2031-10-01      | Floating      | 8.52%                 | No            |                  3 | On Loan: No      |
| Windstream Services LLC                         | Windstream Services LLC 2025 Term Loan B                                         | CUSIP: 97381JAK9<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |     43000 | PA      | $43000.00     | 0.05%             | 2032-10-06      | Floating      | 7.67%                 | No            |                  3 | On Loan: No      |
| UNITI SERVICES LLC                              | Uniti Services LLC                                                               | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |     95000 | PA      | $98083.06     | 0.11%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES  | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   3310000 | NS      | $3310000.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| WULF COMPUTE LLC                                | WULF Compute LLC                                                                 | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    288000 | PA      | $300389.76    | 0.34%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                        | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     44000 | PA      | $44130.72     | 0.05%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                        | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    158000 | PA      | $160974.82    | 0.18%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                  | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    392000 | PA      | $391290.48    | 0.45%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| XHR LP                                          | XHR LP                                                                           | CUSIP: 98372MAE5<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |     18000 | PA      | $18589.52     | 0.02%             | 2030-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| XPLR INFRAST OPERATING                          | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178385.55    | 0.20%             | 2034-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                          | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    114000 | PA      | $119747.81    | 0.14%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| XPLR INFRAST OPERATING                          | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10491.19     | 0.01%             | 2033-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                         | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    175942 | PA      | $171799.45    | 0.20%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                         | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAD7<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |     43177 | PA      | $39642.53     | 0.05%             | 2030-09-09      | Fixed         | 13.75%                | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                         | Zayo Group Holdings Inc 2025 USD Term Loan                                       | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    285279 | PA      | $274304.03    | 0.31%             | 2030-03-11      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| ZEBRA TECHNOLOGIES CORP                         | Zebra Technologies Corp                                                          | CUSIP: 989207AD7<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36051.26     | 0.04%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                         | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $120698.36    | 0.14%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                        | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $120430.72    | 0.14%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                          | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $120960.79    | 0.14%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL PLC                                    | Carnival PLC                                                                     | CUSIP: 000000000<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $120607.91    | 0.14%             | 2031-07-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                            | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |    100000 | PA      | $122433.59    | 0.14%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SILGAN HOLDINGS INC                             | Silgan Holdings Inc                                                              | CUSIP: 000000000<br>LEI: KAF673KJXD92C8KSLU49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $119788.49    | 0.14%             | 2031-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                               | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    100000 | PA      | $115656.22    | 0.13%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                          | US LONG BOND(CBT) MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -6 | NC      | $10385.29     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                          | US 10YR ULTRA FUT MAR26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -10 | NC      | $10998.92     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice France SA                                | Altice France SA 2025 USD Term Loan B14                                          | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | US        |     50128 | PA      | $50795.77     | 0.06%             | 2031-05-31      | Floating      | 10.55%                | No            |                  2 | On Loan: No      |
| LSF12 HELIX PARENT LLC                          | LSF12 HELIX PARENT LLC TERM LOAN                                                 | CUSIP: 000000000<br>LEI: 254900H70V4IL22BHL88 | Long             | LON              | CORP              | US        |     80000 | PA      | $79700.00     | 0.09%             | 2033-01-21      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                  | Propulsion (BC) Finco Sarl 2025 Repriced Term Loan B                             | CUSIP: 000000000<br>LEI: 254900S4YQSQVLEZ8D35 | Long             | LON              | CORP              | LU        |     34780 | PA      | $34802.26     | 0.04%             | 2032-12-01      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| POTTERS INDUSTRIES LLC                          | Potters Industries LLC 2025 Repriced Term Loan B                                 | CUSIP: 000000000<br>LEI: 391200O5OFXXMCYPAR13 | Long             | LON              | CORP              | US        |     20000 | PA      | $19968.80     | 0.02%             | 2032-12-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| HOLOGIC INC                                     | HOLOGIC INC 2026 TERM LOAN B                                                     | CUSIP: 000000000<br>LEI: 9845009E9B4548A5N478 | Long             | LON              | CORP              | US        |    139000 | PA      | $137940.82    | 0.16%             | 2033-01-14      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| AZURIA WATER SOLUTIONS INC                      | AZURIA WATER SOLUTIONS INC 2026 TERM LOAN B                                      | CUSIP: 000000000<br>LEI: 549300AG3DVJURRIT691 | Long             | LON              | CORP              | US        |     38291 | PA      | $38004.26     | 0.04%             | 2033-01-27      | Floating      | 6.43%                 | No            |                  3 | On Loan: No      |
| NEPTUNE BIDCO US INC                            | NEPTUNE BIDCO US INC 2026 REFINANCE TERM LOAN B                                  | CUSIP: 000000000<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |     37000 | PA      | $36383.21     | 0.04%             | 2033-01-28      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL              | TRSWAP: IBXXLLTR INDEX                                                           | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |   1050000 | OU      | $15946.89     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL              | TRSWAP: IBOXHY INDEX                                                             | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |     15897 | OU      | $144.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                  | TRSWAP: IBOXHY INDEX                                                             | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |   3230000 | OU      | $29240.32     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL              | TRSWAP: IBOXHY INDEX                                                             | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |     19103 | OU      | $140.76       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                       | BAUSCH + LOMB CORPORATION 2025 REPRICED TERM LOAN                                | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    133087 | PA      | $133919.23    | 0.15%             | 2031-01-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation               | Great Canadian Gaming Corporation 2024 Term Loan B                               | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |     15345 | PA      | $14947.13     | 0.02%             | 2029-11-01      | Floating      | 8.44%                 | No            |                  2 | On Loan: No      |
| JONES DSLRRS INSRNC MANAG INC                   | JONES DSLRRS INSRNC MANAG INC 2025 REPRICED TERM LOAN B                          | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |     44446 | PA      | $44404.54     | 0.05%             | 2032-12-10      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                               | Clarios Global LP 2025 USD Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     53865 | PA      | $53881.70     | 0.06%             | 2032-01-28      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Oxea Holding Drei GmbH                          | Oxea Holding Drei GmbH 2017 USD Term Loan B2                                     | CUSIP: 000000000<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |      9172 | PA      | $6741.16      | 0.01%             | 2031-04-08      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Constellium SE                                  | Constellium SE                                                                   | CUSIP: 000000000<br>LEI: 724500KRJEMC79KAAU28 | Long             | EC               | CORP              | FR        |      5329 | NS      | $119742.63    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Digicel International Finance Limited           | Digicel International Finance Limited 2025 Term Loan B                           | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |     91000 | PA      | $91080.99     | 0.10%             | 2032-08-06      | Floating      | 9.02%                 | No            |                  2 | On Loan: No      |
| HYPERION INSURANCE GROUP LTD                    | Hyperion Insurance Group Ltd 2025 Term Loan B                                    | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |      4974 | PA      | $4968.26      | 0.01%             | 2030-04-18      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Coral-US Co-Borrower, LLC                       | Coral-US Co-Borrower LLC 2025 Term Loan B7                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     35230 | PA      | $34261.18     | 0.04%             | 2032-01-31      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                      | Camelot US Acquisition LLC 2025 Incremental Term Loan B                          | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |     38334 | PA      | $36177.71     | 0.04%             | 2031-01-31      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                  | Lonza Group AG USD Term Loan B                                                   | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |     42978 | PA      | $36236.18     | 0.04%             | 2028-07-03      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                      | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                  | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |     23764 | PA      | $21905.48     | 0.03%             | 2029-02-15      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| Hunter Douglas Inc.                             | Hunter Douglas Inc 2025 USD Term Loan B                                          | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |      9276 | PA      | $9239.40      | 0.01%             | 2032-01-20      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Ardonagh Midco 3 PLC                            | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |     70917 | PA      | $70606.87     | 0.08%             | 2031-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                 | SWAP/CDSWAP/ICE: (CDX.NA.HY.45.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |   2525191 | OU      | $226024.99    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer