# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0000940400-26-007511
**Filing Date:** 2026-2
**Character Count:** 204002
**Document Hash:** a9a5414b65c541512cacc83f484d8cd0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007511.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0000940400-26-007511

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20260331

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 26675572

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

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

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

## Series and Classes Contracts Data

### iShares Preferred and Income Securities ETF (Series ID: S000013499)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000036528 | iShares Preferred and Income Securities ETF | PFF             |

## Nport-Ex

Schedule of Investments (unaudited)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

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

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par* <br>*(000)*<br>| *Value* |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** | **Textiles, Apparel & Luxury Goods — 0.0%** |
| Fossil Group, Inc., 7.50%, 06/30/29 | USD  | 1175 | $1101093 |
| **Total Corporate Bonds — 0.0%** <br>**(Cost: $807,330)** | **Total Corporate Bonds — 0.0%** <br>**(Cost: $807,330)** | **Total Corporate Bonds — 0.0%** <br>**(Cost: $807,330)** | 1101093 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 99.2%** | **Preferred Stocks — 99.2%** | **Preferred Stocks — 99.2%** |
| **Aerospace & Defense — 4.3%** | **Aerospace & Defense — 4.3%** | **Aerospace & Defense — 4.3%** |
| Boeing Co. (The), 6.00%<sup>(a)</sup> | 8708740 | 601425584 |
| **Automobiles — 1.0%** | **Automobiles — 1.0%** | **Automobiles — 1.0%** |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00% | 2423296 | 49968363 |
| &nbsp;&nbsp;&nbsp; 6.50%, NVS | 1817494 | 40421067 |
| &nbsp;&nbsp;&nbsp; 6.20% | 2271844 | 48004064 |
|  |  | 138393494 |
| **Banks — 24.6%** | **Banks — 24.6%** | **Banks — 24.6%** |
| Associated Banc-Corp |  |  |
| &nbsp;&nbsp;&nbsp; 6.63% | 908674 | 22580549 |
| &nbsp;&nbsp;&nbsp; Series E, 5.88%, NVS<sup>(b)</sup> | 318359 | 6809699 |
| &nbsp;&nbsp;&nbsp; Series F, 5.63%, NVS<sup>(b)</sup> | 309424 | 6371040 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp., Series A, <br> 6.88%, NVS<sup>(b)</sup><br>| 524126 | 12751986 |
| Banc of California, Inc., Series F, 7.75%, NVS<sup>(b)</sup> | 1575812 | 39678946 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02, (3-mo. CME Term SOFR + 0.912%), <br> 4.73%, NVS<sup>(b)(c)</sup><br>| 557300 | 10287758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4, (3-mo. CME Term SOFR + 1.012%), <br> 4.83%, NVS<sup>(b)(c)</sup><br>| 380669 | 7575313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5, (3-mo. CME Term SOFR + 0.762%), <br> 4.63%, NVS<sup>(b)(c)</sup><br>| 757453 | 14588545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, (3-mo. CME Term SOFR + 0.612%), <br> 4.46%, NVS<sup>(b)(c)</sup><br>| 576885 | 10874282 |
| &nbsp;&nbsp;&nbsp; Series GG, 6.00%<sup>(b)</sup> | 2697518 | 67707702 |
| &nbsp;&nbsp;&nbsp; Series HH, 5.88%, NVS<sup>(b)</sup> | 1690343 | 41464114 |
| &nbsp;&nbsp;&nbsp; Series K\*, 6.45% | 2092448 | 53420197 |
| &nbsp;&nbsp;&nbsp; Series KK, 5.38%, NVS<sup>(b)</sup> | 2757798 | 60643978 |
| &nbsp;&nbsp;&nbsp; Series L, 7.25%, NVS<sup>(a)(b)</sup> | 154917 | 193956084 |
| &nbsp;&nbsp;&nbsp; Series LL, 5.00%, NVS<sup>(b)</sup> | 2592906 | 53828729 |
| &nbsp;&nbsp;&nbsp; Series NN, 4.38%, NVS<sup>(b)</sup> | 2130984 | 38656050 |
| &nbsp;&nbsp;&nbsp; Series PP, 4.13%, NVS<sup>(b)</sup> | 1800872 | 30920972 |
| &nbsp;&nbsp;&nbsp; Series QQ, 4.25%, NVS<sup>(b)</sup> | 2578130 | 45478213 |
| &nbsp;&nbsp;&nbsp; Series SS, 4.75%, NVS<sup>(b)</sup> | 1350095 | 26583371 |
| Bank of Hawaii Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%<sup>(b)</sup> | 501367 | 13411567 |
| &nbsp;&nbsp;&nbsp; Series A, 4.38%, NVS<sup>(b)</sup> | 562968 | 9283342 |
| Bank OZK, Series A, 4.63%, NVS<sup>(b)</sup> | 1060197 | 17514454 |
| Cadence Bank, Series A, 5.50%, NVS<sup>(b)(d)</sup> | 551039 | 11847339 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, NVS<sup>(b)</sup> | 1228047 | 32359038 |
| &nbsp;&nbsp;&nbsp; Series E, 5.00%, NVS<sup>(b)</sup> | 1402853 | 26822549 |
| &nbsp;&nbsp;&nbsp; Series I, 6.50%, NVS<sup>(b)</sup> | 1211670 | 30764301 |
| Comerica, Inc., Series B, 6.88%<sup>(b)</sup> | 1211670 | 31624587 |
| &nbsp;&nbsp;&nbsp; ConnectOne Bancorp, Inc., Series A, 5.25%, <br> NVS<sup>(b)</sup><br>| 358462 | 8778734 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc., Series B, 4.45%, <br> NVS<sup>(b)</sup><br>| 454300 | 7886648 |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc., 5.50%, <br> NVS<sup>(b)</sup><br>| 409901 | 7333129 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.00%, NVS<sup>(b)</sup> | 623504 | $15369374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 3.972%), <br> 7.97%, NVS<sup>(b)(c)</sup><br>| 1381649 | 35356398 |
| &nbsp;&nbsp;&nbsp; Series K, 4.95%, NVS<sup>(b)</sup> | 779350 | 15072629 |
| First Busey Corp., Series B, 8.25%, NVS<sup>(b)</sup> | 651226 | 16769070 |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.38%, NVS<sup>(b)</sup> | 1075495 | 21724999 |
| &nbsp;&nbsp;&nbsp; Series C, 5.63%, NVS<sup>(b)</sup> | 623504 | 13212050 |
| First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.50%, NVS<sup>(b)</sup> | 454300 | 10984974 |
| &nbsp;&nbsp;&nbsp; Series F, 4.70%<sup>(b)</sup> | 454300 | 7991137 |
| Flagstar Bank N.A. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, NVS<sup>(a)</sup> | 225996 | 9051140 |
| &nbsp;&nbsp;&nbsp; Series A., 6.38%, NVS<sup>(b)</sup> | 1581075 | 35732295 |
| Fulton Financial Corp., Series A, 5.13%, NVS<sup>(b)</sup> | 633794 | 11934341 |
| Hancock Whitney Corp., 6.25% | 522477 | 12037870 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.70%, NVS<sup>(b)</sup> | 545598 | 12046804 |
| &nbsp;&nbsp;&nbsp; Series H, 4.50%, NVS<sup>(b)</sup> | 1558700 | 26638183 |
| &nbsp;&nbsp;&nbsp; Series J, 6.88%, NVS<sup>(b)</sup> | 1014496 | 25758053 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Series DD, 5.75%, NVS<sup>(b)</sup> | 5138137 | 128042374 |
| &nbsp;&nbsp;&nbsp; Series EE, 6.00%, NVS<sup>(b)</sup> | 5603909 | 140882272 |
| &nbsp;&nbsp;&nbsp; Series GG, 4.75%, NVS<sup>(b)</sup> | 2763269 | 55928565 |
| &nbsp;&nbsp;&nbsp; Series JJ, 4.55%, NVS<sup>(b)</sup> | 4543686 | 88147508 |
| &nbsp;&nbsp;&nbsp; Series LL, 4.63%, NVS<sup>(b)</sup> | 5603908 | 110060753 |
| &nbsp;&nbsp;&nbsp; Series MM, 4.20%, NVS<sup>(b)</sup> | 6058257 | 110684355 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp; 6.20%, NVS<sup>(b)</sup> | 1817494 | 46127998 |
| &nbsp;&nbsp;&nbsp; Series E, 6.13%, NVS<sup>(b)(d)</sup> | 1514597 | 37531714 |
| &nbsp;&nbsp;&nbsp; Series F, 5.65%, NVS<sup>(b)</sup> | 1287359 | 27317758 |
| &nbsp;&nbsp;&nbsp; Series G, 5.63%, NVS<sup>(b)</sup> | 1363148 | 28980527 |
| &nbsp;&nbsp;&nbsp; Live Oak Bancshares, Inc., Series A, 8.38%, <br> NVS<sup>(b)</sup><br>| 312263 | 7978320 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 5.63%, NVS<sup>(b)(d)</sup> | 757223 | 18650403 |
| &nbsp;&nbsp;&nbsp; Series J, 7.50%, NVS<sup>(b)</sup> | 2271843 | 60317432 |
| &nbsp;&nbsp;&nbsp; Series K, 6.35%, NVS<sup>(b)</sup> | 1366950 | 35075937 |
| Midland States Bancorp, Inc., 7.75%, NVS<sup>(b)</sup> | 358462 | 8968719 |
| Old National Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.00%, NVS<sup>(b)</sup> | 327103 | 8151407 |
| &nbsp;&nbsp;&nbsp; Series C, 7.00%, NVS<sup>(b)</sup> | 389996 | 9831799 |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc., Series B, <br> 6.75%, NVS<sup>(b)</sup><br>| 701664 | 17555633 |
| Popular Capital Trust II, 6.13% | 307927 | 7713571 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.95%<sup>(b)</sup> | 1535242 | 39010499 |
| &nbsp;&nbsp;&nbsp; Series C, 5.70%, NVS<sup>(b)</sup> | 1535229 | 36062529 |
| &nbsp;&nbsp;&nbsp; Series E, 4.45%, NVS<sup>(b)</sup> | 1211620 | 20900445 |
| Synovus Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 3.614%), <br> 7.31%, NVS<sup>(b)(c)</sup><br>| 623504 | 15774651 |
| &nbsp;&nbsp;&nbsp; Series E, 8.40%, NVS<sup>(b)</sup> | 1060197 | 27406092 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc., Series B, 5.75%, <br> NVS<sup>(b)(d)</sup><br>| 935272 | 18780262 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 0.792%), <br> 4.44%, NVS<sup>(b)(c)</sup><br>| 549202 | 10863216 |
| &nbsp;&nbsp;&nbsp; Series O, 5.25%, NVS<sup>(b)</sup> | 1765369 | 38043702 |
| &nbsp;&nbsp;&nbsp; Series R, 4.75%, NVS<sup>(b)</sup> | 2840090 | 54529728 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.282%), <br> 5.19%, NVS<sup>(b)(c)</sup><br>| 44091 | $33706467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B\*, (3-mo. CME Term SOFR + 0.862%), <br> 4.77%, NVS<sup>(b)(c)</sup><br>| 3070231 | 54803623 |
| &nbsp;&nbsp;&nbsp; Series K, 5.50%, NVS<sup>(b)</sup> | 1741759 | 39189578 |
| &nbsp;&nbsp;&nbsp; Series L, 3.75%, NVS<sup>(b)</sup> | 1558700 | 23894871 |
| &nbsp;&nbsp;&nbsp; Series M, 4.00%, NVS<sup>(b)</sup> | 2302768 | 37627229 |
| &nbsp;&nbsp;&nbsp; Series O, 4.50%, NVS<sup>(b)</sup> | 1402853 | 25475810 |
| UMB Financial Corp., 7.75%, NVS<sup>(b)</sup> | 935272 | 25252344 |
| Valley National Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 4.112%), <br> 7.76%, NVS<sup>(b)(c)</sup><br>| 358462 | 9065504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (3-mo. CME Term SOFR + 3.840%), <br> 7.53%, NVS<sup>(b)(c)</sup><br>| 311769 | 7928286 |
| &nbsp;&nbsp;&nbsp; Series C, 8.25%<sup>(b)</sup> | 467581 | 12231919 |
| WaFd, Inc., Series A, 4.88%, NVS<sup>(b)</sup> | 915171 | 15338266 |
| Webster Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.25%, NVS<sup>(b)</sup> | 454300 | 8677130 |
| &nbsp;&nbsp;&nbsp; Series G, 6.50%<sup>(b)</sup> | 429758 | 10133694 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Series AA, 4.70%, NVS<sup>(b)</sup> | 3145726 | 60869798 |
| &nbsp;&nbsp;&nbsp; Series CC, 4.38%, NVS<sup>(b)</sup> | 2803469 | 50798858 |
| &nbsp;&nbsp;&nbsp; Series DD, 4.25%, NVS<sup>(b)</sup> | 3358225 | 59675658 |
| &nbsp;&nbsp;&nbsp; Series L, 7.50%, NVS<sup>(a)(b)</sup> | 273380 | 331336560 |
| &nbsp;&nbsp;&nbsp; Series Y, 5.63%, NVS<sup>(b)(d)</sup> | 1832835 | 44519562 |
| &nbsp;&nbsp;&nbsp; Series Z, 4.75%, NVS<sup>(b)</sup> | 5490217 | 107004329 |
| WesBanco, Inc., Series B, 7.38%<sup>(b)</sup> | 706053 | 18209107 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp, Series A, 4.25%, <br> NVS<sup>(b)</sup><br>| 935272 | 21211969 |
| Wintrust Financial Corp., Series F, 7.88%<sup>(b)</sup> | 1289259 | 33378916 |
|  |  | 3451130180 |
| **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** |
| Dillard's Capital Trust I, 7.50% | 605798 | 15859792 |
| QVC Group, Inc., 8.00% | 991207 | 3607993 |
| QVC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | 1515310 | 12380083 |
| &nbsp;&nbsp;&nbsp; 6.38% | 680253 | 5523654 |
|  |  | 37371522 |
| **Capital Markets — 12.4%** | **Capital Markets — 12.4%** | **Capital Markets — 12.4%** |
| Affiliated Managers Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.20% | 618846 | 9511663 |
| &nbsp;&nbsp;&nbsp; 4.75% | 844354 | 14320244 |
| &nbsp;&nbsp;&nbsp; 5.88% | 908699 | 19091766 |
| &nbsp;&nbsp;&nbsp; 6.75% | 1381649 | 33574071 |
| &nbsp;&nbsp;&nbsp; Ares Management Corp., Series B, 6.75%, <br> NVS<sup>(a)</sup><br>| 2271843 | 114500887 |
| B Riley Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50% | 546855 | 11631606 |
| &nbsp;&nbsp;&nbsp; 6.00% | 665237 | 9213532 |
| &nbsp;&nbsp;&nbsp; 5.50%<sup>(d)</sup> | 314266 | 7765513 |
| &nbsp;&nbsp;&nbsp; 5.25%<sup>(d)</sup> | 1173964 | 14439757 |
| &nbsp;&nbsp;&nbsp; 5.00%<sup>(d)</sup> | 607291 | 12273351 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The), Series K, <br> 6.15%, NVS<sup>(b)</sup><br>| 1535235 | 39378778 |
| Brookfield Finance I UK PLC, 4.50%<sup>(b)</sup> | 696703 | 10541116 |
| Brookfield Finance, Inc., Series 50, 4.63%, NVS | 1211670 | 19944088 |
| Brookfield Oaktree Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.63%, NVS<sup>(b)</sup> | 552656 | 11594723 |
| &nbsp;&nbsp;&nbsp; Series B, 6.55%, NVS<sup>(b)</sup> | 711869 | 14700095 |
| Carlyle Finance LLC, 4.63%, NVS | 1514596 | 25899592 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 5.95%, NVS<sup>(b)</sup> | 2271844 | $56796100 |
| &nbsp;&nbsp;&nbsp; Series J, 4.45%, NVS<sup>(b)</sup> | 1817494 | 34059838 |
| CION Investment Corp., 7.50% | 460517 | 11591213 |
| Crescent Capital BDC, Inc., 5.00% | 342156 | 8571008 |
| DigitalBridge Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 7.13%, NVS<sup>(b)</sup> | 644421 | 14325479 |
| &nbsp;&nbsp;&nbsp; Series I, 7.15%, NVS<sup>(b)</sup> | 974413 | 21631969 |
| &nbsp;&nbsp;&nbsp; Series J, 7.13%, NVS<sup>(b)</sup> | 879485 | 19515772 |
| Gladstone Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, NVS | 392577 | 9873312 |
| &nbsp;&nbsp;&nbsp; 4.88% | 407567 | 9724549 |
| &nbsp;&nbsp;&nbsp; 7.88% | 383192 | 9825043 |
| Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.012%), <br> 4.88%, NVS<sup>(b)(c)</sup><br>| 2302690 | 44557051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 1.012%), <br> 4.88%, NVS<sup>(b)(c)</sup><br>| 613562 | 12295782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 0.932%), <br> 4.80%, NVS<sup>(b)(c)</sup><br>| 4089267 | 79536243 |
| KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 6.25%<sup>(a)</sup> | 3918954 | 203158575 |
| &nbsp;&nbsp;&nbsp; Series T, 6.88% | 1787211 | 45663241 |
| KKR Group Finance Co. IX LLC, 4.63%, NVS | 1533854 | 26796429 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 0.962%), <br> 4.87%<sup>(b)(c)</sup><br>| 3332065 | 64308854 |
| &nbsp;&nbsp;&nbsp; Series E, 7.13%, NVS<sup>(b)</sup> | 2612603 | 65968226 |
| &nbsp;&nbsp;&nbsp; Series F, 6.88%, NVS<sup>(b)</sup> | 2574744 | 64651822 |
| &nbsp;&nbsp;&nbsp; Series I, 6.38%, NVS<sup>(b)</sup> | 3029168 | 75729200 |
| &nbsp;&nbsp;&nbsp; Series K, 5.85%, NVS<sup>(b)</sup> | 3029168 | 74275199 |
| &nbsp;&nbsp;&nbsp; Series L, 4.88%, NVS<sup>(b)</sup> | 1514596 | 30958342 |
| &nbsp;&nbsp;&nbsp; Series O, 4.25%, NVS<sup>(b)</sup> | 3937863 | 69463903 |
| &nbsp;&nbsp;&nbsp; Series P, 6.50%, NVS<sup>(b)</sup> | 3029167 | 77152883 |
| &nbsp;&nbsp;&nbsp; Series Q, 6.63%, NVS<sup>(b)</sup> | 3029167 | 79152134 |
| New Mountain Finance Corp., 8.25% | 347444 | 8856348 |
| Northern Trust Corp., Series E, 4.70%, NVS<sup>(b)</sup> | 1228046 | 23848653 |
| Prospect Capital Corp., Series A, 5.35%<sup>(b)</sup> | 401326 | 6629906 |
| Saratoga Investment Corp., Series 2027, 6.00% | 319547 | 7911984 |
| State Street Corp., Series G, 5.35%, NVS<sup>(b)(c)</sup> | 1514597 | 34002703 |
| Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.20% | 681537 | 13951062 |
| &nbsp;&nbsp;&nbsp; Series B, 6.25%, NVS<sup>(b)</sup> | 490875 | 11653373 |
| &nbsp;&nbsp;&nbsp; Series C, 6.13%, NVS<sup>(b)</sup> | 681537 | 15845735 |
| &nbsp;&nbsp;&nbsp; Series D, 4.50%, NVS<sup>(b)</sup> | 908699 | 15538753 |
| Trinity Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, NVS | 354276 | 8927755 |
| &nbsp;&nbsp;&nbsp; 7.88% | 360515 | 9110214 |
|  |  | 1734239435 |
| **Chemicals — 1.5%** | **Chemicals — 1.5%** | **Chemicals — 1.5%** |
| Albemarle Corp., 7.25%, NVS<sup>(a)</sup> | 3483517 | 206886075 |
| EIDP, Inc., Series B, 4.50%, NVS<sup>(b)</sup> | 128340 | 8720703 |
|  |  | 215606778 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| Pitney Bowes, Inc., 6.70% | 1061331 | 21640539 |
| **Consumer Finance — 2.6%** | **Consumer Finance — 2.6%** | **Consumer Finance — 2.6%** |
| Atlanticus Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%<sup>(d)</sup> | 448906 | 11110424 |
| &nbsp;&nbsp;&nbsp; 9.25%, NVS | 506535 | 12800139 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series I, 5.00%, NVS<sup>(b)</sup> | 4543734 | 86376383 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series J, 4.80%, NVS<sup>(b)</sup> | 3786414 | $68496229 |
| &nbsp;&nbsp;&nbsp; Series K, 4.63%, NVS<sup>(b)</sup> | 383846 | 6724982 |
| &nbsp;&nbsp;&nbsp; Series L, 4.38%, NVS<sup>(b)</sup> | 2044656 | 34227541 |
| &nbsp;&nbsp;&nbsp; Series N, 4.25%, NVS<sup>(b)</sup> | 1287409 | 20907522 |
| Navient Corp., 6.00% | 908699 | 18482938 |
| &nbsp;&nbsp;&nbsp; SLM Corp., Series B, (3-mo. CME Term SOFR + <br> 1.962%), 5.69%<sup>(b)(c)(d)</sup><br>| 190131 | 13854846 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.63%, NVS<sup>(b)</sup> | 2303672 | 45128935 |
| &nbsp;&nbsp;&nbsp; Series B, 8.25%, NVS<sup>(b)</sup> | 1535228 | 40361144 |
|  |  | 358471083 |
| **Diversified REITs — 0.4%** | **Diversified REITs — 0.4%** | **Diversified REITs — 0.4%** |
| &nbsp;&nbsp;&nbsp; Armada Hoffler Properties, Inc., Series A, 6.75%, <br> NVS<sup>(b)</sup><br>| 518220 | 10949989 |
| &nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc., Series A, 6.38%, <br> NVS<sup>(b)</sup><br>| 361725 | 7415362 |
| Global Net Lease, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.25%, NVS<sup>(b)</sup> | 514894 | 12017626 |
| &nbsp;&nbsp;&nbsp; Series B, 6.88%<sup>(b)</sup> | 360432 | 8289936 |
| &nbsp;&nbsp;&nbsp; Series D, 7.50%, NVS<sup>(b)</sup> | 600802 | 14990010 |
| LXP Industrial Trust, Series C, 6.50%, NVS<sup>(a)(b)</sup> | 148006 | 6971083 |
|  |  | 60634006 |
| **Diversified Telecommunication Services — 2.5%** | **Diversified Telecommunication Services — 2.5%** | **Diversified Telecommunication Services — 2.5%** |
| AT&T Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.35% | 4006018 | 89214021 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, NVS<sup>(b)</sup> | 3634965 | 73208195 |
| &nbsp;&nbsp;&nbsp; Series C, 4.75%, NVS<sup>(b)</sup> | 5301010 | 100825210 |
| Qwest Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75% | 1999204 | 37984876 |
| &nbsp;&nbsp;&nbsp; 6.50%, NVS | 2960963 | 55606885 |
|  |  | 356839187 |
| **Electric Utilities — 9.0%** | **Electric Utilities — 9.0%** | **Electric Utilities — 9.0%** |
| BIP Bermuda Holdings I Ltd., 5.13%<sup>(b)</sup> | 908699 | 15020794 |
| Brookfield BRP Holdings Canada, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, NVS<sup>(b)</sup> | 1061678 | 16328608 |
| &nbsp;&nbsp;&nbsp; 4.88%<sup>(b)</sup> | 787607 | 12767109 |
| &nbsp;&nbsp;&nbsp; 7.25%<sup>(b)</sup> | 454349 | 11367812 |
| Brookfield Infrastructure Finance ULC |  |  |
| &nbsp;&nbsp;&nbsp; 5.00% | 757247 | 12335554 |
| &nbsp;&nbsp;&nbsp; 7.25% | 478590 | 11735027 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63% | 1514596 | 37259062 |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, NVS<sup>(b)</sup> | 3029167 | 75638300 |
| Entergy Arkansas LLC, 4.88%<sup>(d)</sup> | 1241957 | 25708510 |
| Entergy Louisiana LLC, 4.88% | 817868 | 16725401 |
| Entergy Mississippi LLC, 4.90% | 787607 | 16177448 |
| Georgia Power Co., Series 2017, 5.00% | 817893 | 18320803 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series N, 5.65% | 2082543 | 49585349 |
| &nbsp;&nbsp;&nbsp; Series U, 6.50% | 2650350 | 67106862 |
| NextEra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.30%<sup>(a)</sup> | 3029167 | 156819975 |
| &nbsp;&nbsp;&nbsp; 7.23%<sup>(a)(d)</sup> | 2271843 | 110752346 |
| Pacific Gas & Electric Co., Series A, 6.00%<sup>(b)</sup> | 318953 | 6994639 |
| PG&E Corp., Series A, 6.00%, NVS<sup>(a)</sup> | 2438461 | 99976901 |
| SCE Trust II, 5.10%, NVS<sup>(b)</sup> | 666417 | 11815573 |
| SCE Trust VI, 5.00%, NVS<sup>(b)</sup> | 1438858 | 25050518 |
| SCE Trust VII, Series M, 7.50%<sup>(b)</sup> | 1666045 | 42117617 |
| SCE Trust VIII, Series N, 6.95%, NVS<sup>(b)</sup> | 1060226 | 25201572 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electric Utilities (continued)** | **Electric Utilities (continued)** | **Electric Utilities (continued)** |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 5.25% | 1363147 | $29457607 |
| &nbsp;&nbsp;&nbsp; 6.50% | 1711497 | 43472024 |
| &nbsp;&nbsp;&nbsp; Series 2020, 4.95% | 3029167 | 61310340 |
| &nbsp;&nbsp;&nbsp; Series A, 7.13%<sup>(a)</sup> | 3037639 | 152975500 |
| &nbsp;&nbsp;&nbsp; Series C, 4.20% | 2271843 | 40302495 |
| Xcel Energy, Inc., 6.25% | 2726325 | 68049072 |
|  |  | 1260372818 |
| **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Babcock & Wilcox Enterprises, Inc., Series A, <br> 7.75%, NVS<sup>(b)</sup><br>| 580759 | 11562912 |
| **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** |
| Novanta, Inc., 6.50%<sup>(a)</sup> | 937180 | 51526156 |
| **Financial Services — 5.6%** | **Financial Services — 5.6%** | **Financial Services — 5.6%** |
| Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%<sup>(a)</sup> | 2177173 | 164420105 |
| &nbsp;&nbsp;&nbsp; 7.63% | 1842259 | 48525102 |
| &nbsp;&nbsp;&nbsp; Citigroup Capital XIII, (3-mo. CME Term SOFR + <br> 6.632%), 10.47%, NVS<sup>(c)</sup><br>| 6803330 | 205460566 |
| Compass Diversified Holdings |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.25%, NVS<sup>(b)</sup> | 358691 | 5740849 |
| &nbsp;&nbsp;&nbsp; Series B, 7.88%, NVS<sup>(b)</sup> | 569776 | 10119222 |
| &nbsp;&nbsp;&nbsp; Series C, 7.88%, NVS<sup>(b)</sup> | 598733 | 10867004 |
| Corebridge Financial, Inc., 6.38% | 1842259 | 42832522 |
| Equitable Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, NVS<sup>(b)</sup> | 2430871 | 49103594 |
| &nbsp;&nbsp;&nbsp; Series C, 4.30%<sup>(b)</sup> | 911549 | 14830902 |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 5.70%, NVS<sup>(b)</sup> | 307031 | 6459932 |
| &nbsp;&nbsp;&nbsp; Series F, 5.25%, NVS<sup>(b)</sup> | 368362 | 7175692 |
| &nbsp;&nbsp;&nbsp; Series G, 4.88%, NVS<sup>(b)</sup> | 383852 | 6924690 |
| &nbsp;&nbsp;&nbsp; Series H, 6.50%<sup>(b)</sup> | 309423 | 7720104 |
| Jackson Financial, Inc., 8.00%<sup>(b)</sup> | 1671247 | 43569409 |
| Merchants Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, NVS<sup>(b)</sup> | 432789 | 10984185 |
| &nbsp;&nbsp;&nbsp; 7.63%, NVS<sup>(b)</sup> | 696703 | 15836059 |
| &nbsp;&nbsp;&nbsp; Series C, 6.00%, NVS<sup>(b)</sup> | 594225 | 10915913 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance <br> Corp., Series US, 5.50%<br>| 757257 | 17916701 |
| Shift4 Payments, Inc., 6.00%, NVS<sup>(a)</sup> | 757247 | 60587333 |
| TPG Operating Group II LP, 6.95%, NVS | 1211670 | 30110000 |
| Voya Financial, Inc., Series B, 5.35%, NVS<sup>(b)</sup> | 908699 | 22472126 |
|  |  | 792572010 |
| **Food Products — 1.3%** | **Food Products — 1.3%** | **Food Products — 1.3%** |
| CHS, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(b)</sup> | 929330 | 25742441 |
| &nbsp;&nbsp;&nbsp; Series 1, 7.88%, NVS<sup>(b)</sup> | 1625075 | 42219448 |
| &nbsp;&nbsp;&nbsp; Series 2, 7.10%, NVS<sup>(b)(c)</sup> | 1272243 | 31691573 |
| &nbsp;&nbsp;&nbsp; Series 3, 6.75%, NVS<sup>(b)(c)</sup> | 1491582 | 36856991 |
| &nbsp;&nbsp;&nbsp; Series 4, 7.50%<sup>(b)</sup> | 1567557 | 39753246 |
|  |  | 176263699 |
| **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** |
| Entergy New Orleans LLC, 5.50% | 336841 | 7535133 |
| Spire, Inc., Series A, 5.90%, NVS<sup>(b)</sup> | 757247 | 18158783 |
|  |  | 25693916 |
| **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** | **Health Care Providers & Services — 0.5%** |
| BrightSpring Health Services, Inc., 6.75%, NVS<sup>(a)</sup> | 605798 | 76457766 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care REITs — 0.2%** | **Health Care REITs — 0.2%** | **Health Care REITs — 0.2%** |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, NVS | 767539 | $13431933 |
| &nbsp;&nbsp;&nbsp; 5.63% | 1060222 | 16974154 |
|  |  | 30406087 |
| **Hotel & Resort REITs — 0.7%** | **Hotel & Resort REITs — 0.7%** | **Hotel & Resort REITs — 0.7%** |
| &nbsp;&nbsp;&nbsp; Braemar Hotels & Resorts, Inc., Series B, 5.50%, <br> NVS<sup>(a)(b)</sup><br>| 230657 | 3416030 |
| Chatham Lodging Trust, Series A, 6.63%, NVS<sup>(b)</sup> | 361424 | 7116438 |
| Pebblebrook Hotel Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.38%, NVS<sup>(b)</sup> | 336035 | 6411548 |
| &nbsp;&nbsp;&nbsp; Series F, 6.30%, NVS<sup>(b)</sup> | 460509 | 8772696 |
| &nbsp;&nbsp;&nbsp; Series G, 6.38%, NVS<sup>(b)</sup> | 696678 | 13027879 |
| &nbsp;&nbsp;&nbsp; Series H, 5.70%, NVS<sup>(b)</sup> | 610763 | 10798290 |
| RLJ Lodging Trust, Series A, 1.95%<sup>(a)(b)</sup> | 975374 | 24286813 |
| Summit Hotel Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.25%, NVS<sup>(b)</sup> | 484609 | 8771423 |
| &nbsp;&nbsp;&nbsp; Series F, 5.88%, NVS<sup>(b)</sup> | 301894 | 5464281 |
| Sunstone Hotel Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 6.13%<sup>(b)</sup> | 346627 | 6915209 |
| &nbsp;&nbsp;&nbsp; Series I, 5.70%, NVS<sup>(b)</sup> | 307032 | 5922647 |
|  |  | 100903254 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| FAT Brands, Inc., Series B, 8.25%, NVS<sup>(b)</sup> | 683937 | 352570 |
| **Independent Power and Renewable Electricity Producers — 0.3%** | **Independent Power and Renewable Electricity Producers — 0.3%** | **Independent Power and Renewable Electricity Producers — 0.3%** |
| &nbsp;&nbsp;&nbsp; Brookfield Renewable Partners LP, Series 17, <br> 5.25%, NVS<sup>(b)</sup><br>| 604600 | 11033950 |
| Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp; Series A, (30-yr. CMT + 0.840%), 2.22%<sup>(c)(d)</sup> | 631134 | 15399670 |
| &nbsp;&nbsp;&nbsp; Series D, (30-yr. CMT + 0.940%), 2.13%<sup>(c)</sup> | 776847 | 18683170 |
|  |  | 45116790 |
| **Insurance — 9.7%** | **Insurance — 9.7%** | **Insurance — 9.7%** |
| AEGON Funding Co. LLC, 5.10%, NVS | 2801931 | 55113983 |
| Allstate Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 3.427%), 7.08%, <br> NVS<sup>(c)</sup><br>| 1514596 | 39197744 |
| &nbsp;&nbsp;&nbsp; Series H, 5.10%, NVS<sup>(b)</sup> | 3483517 | 72944846 |
| &nbsp;&nbsp;&nbsp; Series I, 4.75%, NVS<sup>(b)</sup> | 908699 | 17610587 |
| &nbsp;&nbsp;&nbsp; Series J, 7.38%<sup>(b)</sup> | 1817494 | 47818267 |
| American Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88% | 378611 | 8159067 |
| &nbsp;&nbsp;&nbsp; 4.50% | 613562 | 10375333 |
| &nbsp;&nbsp;&nbsp; 5.63% | 454349 | 9418655 |
| &nbsp;&nbsp;&nbsp; 5.13% | 613562 | 11651542 |
| American National Group, Inc., 7.38%, NVS<sup>(b)</sup> | 908699 | 22726562 |
| Arch Capital Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.45%, NVS<sup>(b)</sup> | 999603 | 20261953 |
| &nbsp;&nbsp;&nbsp; Series G, 4.55%<sup>(b)</sup> | 1535228 | 25638308 |
| Aspen Insurance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, NVS<sup>(b)(d)</sup> | 667926 | 13091350 |
| &nbsp;&nbsp;&nbsp; 5.63%, NVS<sup>(b)</sup> | 846188 | 16822217 |
| &nbsp;&nbsp;&nbsp; 7.00%, NVS<sup>(b)</sup> | 681537 | 16881672 |
| Assurant, Inc., 5.25% | 757247 | 14728454 |
| Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, NVS | 1741758 | 43578785 |
| &nbsp;&nbsp;&nbsp; Series A, 6.35%, NVS<sup>(b)</sup> | 2612613 | 64270280 |
| &nbsp;&nbsp;&nbsp; Series B, 5.63%, NVS<sup>(b)</sup> | 1051872 | 21142627 |
| &nbsp;&nbsp;&nbsp; Series D, 4.88%<sup>(b)</sup> | 1741758 | 29662139 |
| &nbsp;&nbsp;&nbsp; Series E, 7.75%, NVS<sup>(b)</sup> | 1514596 | 38909971 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings Ltd., Series E, 5.50%, <br> NVS<sup>(b)</sup><br>| 1671247 | 33324665 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | 1151384 | $19251140 |
| &nbsp;&nbsp;&nbsp; Series A, 6.60%, NVS<sup>(b)</sup> | 1304861 | 19899130 |
| &nbsp;&nbsp;&nbsp; Series B, 6.75%, NVS<sup>(b)</sup> | 1235902 | 19144122 |
| &nbsp;&nbsp;&nbsp; Series C, 5.38%<sup>(b)</sup> | 1765369 | 22031805 |
| &nbsp;&nbsp;&nbsp; Series D, 4.63%, NVS<sup>(b)</sup> | 1060197 | 11704575 |
| CNO Financial Group, Inc., 5.13% | 454350 | 8632650 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.95%, NVS | 1059236 | 26957556 |
| &nbsp;&nbsp;&nbsp; 7.30% | 1151383 | 25480106 |
| Globe Life, Inc., 4.25%, NVS | 984508 | 16490509 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. (The), Series G, <br> 6.00%, NVS<sup>(b)</sup><br>| 1059248 | 26512977 |
| Kemper Corp., 5.88% | 454349 | 10631767 |
| Lincoln National Corp., Series D, 9.00%<sup>(b)</sup> | 1519322 | 40763409 |
| Maiden Holdings Ltd., 6.63% | 332003 | 4316039 |
| Maiden Holdings North America Ltd., 7.75%<sup>(d)</sup> | 458260 | 7240508 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.262%), <br> 4.99%, NVS<sup>(b)(c)</sup><br>| 1817494 | 39294220 |
| &nbsp;&nbsp;&nbsp; Series E, 5.63%, NVS<sup>(b)(d)</sup> | 2438461 | 57913449 |
| &nbsp;&nbsp;&nbsp; Series F, 4.75%, NVS<sup>(b)</sup> | 3029167 | 59765465 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.95% | 908699 | 22444865 |
| &nbsp;&nbsp;&nbsp; 5.63% | 1734855 | 41324246 |
| &nbsp;&nbsp;&nbsp; 4.13%, NVS | 1514597 | 26126798 |
| Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13% | 2120458 | 53944452 |
| &nbsp;&nbsp;&nbsp; 5.75%, NVS<sup>(d)</sup> | 1211670 | 30073649 |
| RenaissanceRe Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.75%, NVS<sup>(b)</sup> | 757247 | 16704869 |
| &nbsp;&nbsp;&nbsp; Series G, 4.20%, NVS<sup>(b)</sup> | 1514596 | 23900325 |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc., Series B, <br> 4.60%<sup>(b)</sup><br>| 605638 | 10126267 |
| SiriusPoint Ltd., Series B, 8.00%, NVS<sup>(b)</sup> | 607691 | 15356352 |
| Unum Group, 6.25% | 908699 | 21009121 |
| W R Berkley Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.70% | 560346 | 12383647 |
| &nbsp;&nbsp;&nbsp; 5.10% | 908699 | 17828674 |
| &nbsp;&nbsp;&nbsp; 4.13% | 908699 | 14820881 |
| &nbsp;&nbsp;&nbsp; 4.25% | 757247 | 12547583 |
|  |  | 1367950163 |
| **Leisure Products — 0.1%** | **Leisure Products — 0.1%** | **Leisure Products — 0.1%** |
| Brunswick Corp., 6.38% | 651251 | 16476650 |
| **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** | **Life Sciences Tools & Services — 0.5%** |
| Bruker Corp., 6.38%<sup>(a)</sup> | 208992 | 76491072 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |
| Global Ship Lease, Inc., 8.75%, NVS<sup>(b)</sup> | 329174 | 8568399 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| Liberty Broadband Corp., Series A, 7.00%<sup>(b)</sup> | 543998 | 13077712 |
| STRIVE, Inc., 12.00%<sup>(b)</sup> | 151874 | 14441699 |
|  |  | 27519411 |
| **Mortgage Real Estate Investment Trusts (REITs) — 6.3%** | **Mortgage Real Estate Investment Trusts (REITs) — 6.3%** | **Mortgage Real Estate Investment Trusts (REITs) — 6.3%** |
| ACRES Commercial Realty Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.927%), <br> 9.58%<sup>(b)(c)</sup><br>| 366325 | 9231390 |
| &nbsp;&nbsp;&nbsp; Series D, 7.88%, NVS<sup>(b)</sup> | 341358 | 7564493 |
| Adamas Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.88% | 349291 | 9036158 |
| &nbsp;&nbsp;&nbsp; Series D, 8.00%, NVS<sup>(b)</sup> | 465554 | 10083900 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| Adamas Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 11.25%, NVS<sup>(b)(c)</sup> | 564706 | $13936944 |
| &nbsp;&nbsp;&nbsp; Series F, 6.88%, NVS<sup>(b)</sup> | 439599 | 9838226 |
| AGNC Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.373%), <br> 9.28%, NVS<sup>(b)(c)</sup><br>| 984509 | 24868697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 4.594%), <br> 8.50%, NVS<sup>(b)(c)</sup><br>| 711869 | 17447909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, (3-mo. CME Term SOFR + 5.255%), <br> 9.16%, NVS<sup>(b)(c)</sup><br>| 1219205 | 30492317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-mo. CME Term SOFR + 4.959%), <br> 8.86%, NVS<sup>(b)(c)</sup><br>| 1741759 | 42742766 |
| &nbsp;&nbsp;&nbsp; Series G, 7.75%, NVS<sup>(b)</sup> | 454325 | 11244544 |
| &nbsp;&nbsp;&nbsp; Series H, 8.75%, NVS<sup>(b)</sup> | 1045056 | 26377213 |
| Annaly Capital Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-mo. CME Term SOFR + 5.255%), <br> 8.91%, NVS<sup>(b)(c)</sup><br>| 2181013 | 55528591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (3-mo. CME Term SOFR + 4.434%), <br> 8.09%, NVS<sup>(b)(c)</sup><br>| 1304839 | 32529636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 5.251%), <br> 8.90%, NVS<sup>(b)(c)</sup><br>| 1358565 | 34738507 |
| &nbsp;&nbsp;&nbsp; Series J, 8.88%, NVS<sup>(b)</sup> | 833154 | 21653672 |
| Arbor Realty Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 6.38%, NVS<sup>(b)</sup> | 698884 | 11915972 |
| &nbsp;&nbsp;&nbsp; Series E, 6.25%, NVS<sup>(b)</sup> | 436784 | 7372914 |
| &nbsp;&nbsp;&nbsp; Series F, 6.25%, NVS<sup>(b)</sup> | 861597 | 18748351 |
| &nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, Inc., Series C, <br> 7.00%<sup>(b)</sup><br>| 519771 | 10863214 |
| Chimera Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.88% | 368964 | 9260996 |
| &nbsp;&nbsp;&nbsp; Series A, 8.00%, NVS<sup>(b)</sup> | 448469 | 9794563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (3-mo. CME Term SOFR + 6.053%), <br> 9.74%, NVS<sup>(b)(c)</sup><br>| 984509 | 22889834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.005%), <br> 8.69%, NVS<sup>(b)(c)</sup><br>| 787608 | 16799679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 5.600%), <br> 9.29%, NVS<sup>(b)(c)(d)</sup><br>| 618842 | 14078656 |
| &nbsp;&nbsp;&nbsp; Dynex Capital, Inc., Series C, (3-mo. CME Term <br> SOFR + 5.723%), 9.37%, NVS<sup>(b)(c)</sup><br>| 336575 | 8609589 |
| Ellington Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.99%, NVS<sup>(b)(c)</sup> | 352797 | 8894012 |
| &nbsp;&nbsp;&nbsp; Series B, 6.25%, NVS<sup>(b)</sup> | 365071 | 8498853 |
| &nbsp;&nbsp;&nbsp; Series C, 8.63%<sup>(b)</sup> | 302901 | 7566467 |
| &nbsp;&nbsp;&nbsp; Franklin BSP Realty Trust, Inc., Series E, 7.50%, <br> NVS<sup>(b)</sup><br>| 782168 | 16683643 |
| &nbsp;&nbsp;&nbsp; Granite Point Mortgage Trust, Inc., Series A, <br> 7.00%, NVS<sup>(b)</sup><br>| 623182 | 12569581 |
| &nbsp;&nbsp;&nbsp; Invesco Mortgage Capital, Inc., Series C, 7.50%, <br> NVS<sup>(b)</sup><br>| 529054 | 12935370 |
| &nbsp;&nbsp;&nbsp; KKR Real Estate Finance Trust, Inc., Series A, <br> 6.50%, NVS<sup>(b)</sup><br>| 992831 | 18139022 |
| MFA Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.88%, NVS | 353375 | 8905050 |
| &nbsp;&nbsp;&nbsp; Series B, 7.50%, NVS<sup>(b)</sup> | 605799 | 11952414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.607%), <br> 9.26%, NVS<sup>(b)(c)</sup><br>| 832986 | 19008741 |
| PennyMac Mortgage Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, NVS | 529298 | 13608252 |
| &nbsp;&nbsp;&nbsp; 9.00% | 322072 | 8225719 |
| &nbsp;&nbsp;&nbsp; Series A, 8.13%, NVS<sup>(b)(c)</sup> | 355821 | 8536146 |
| &nbsp;&nbsp;&nbsp; Series B, 8.00%, NVS<sup>(b)(c)</sup> | 590707 | 13964314 |
| &nbsp;&nbsp;&nbsp; Series C, 6.75%, NVS<sup>(b)</sup> | 757248 | 13986371 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| Ready Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75% | 398818 | $9990391 |
| &nbsp;&nbsp;&nbsp; 9.00% | 398848 | 8359854 |
| &nbsp;&nbsp;&nbsp; Series E, 6.50%, NVS<sup>(b)</sup> | 352797 | 4928574 |
| Redwood Trust, Inc., 9.50% | 303747 | 7958171 |
| Rithm Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 6.064%), <br> 9.92%, NVS<sup>(b)(c)</sup><br>| 325634 | 8326461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (3-mo. CME Term SOFR + 5.902%), <br> 9.75%<sup>(b)(c)</sup><br>| 864412 | 22094371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.231%), <br> 9.08%, NVS<sup>(b)(c)</sup><br>| 1204310 | 29951190 |
| &nbsp;&nbsp;&nbsp; Series D, 7.00%, NVS<sup>(b)</sup> | 1408575 | 34693202 |
| &nbsp;&nbsp;&nbsp; Series E, 8.75%<sup>(b)</sup> | 583406 | 14900189 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc., Series C, 6.25%, <br> NVS<sup>(b)</sup><br>| 609631 | 10973358 |
| Two Harbors Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 9.38% | 348353 | 8977057 |
| &nbsp;&nbsp;&nbsp; Series A, 8.13%, NVS<sup>(b)</sup> | 382454 | 9201843 |
| &nbsp;&nbsp;&nbsp; Series B, 7.63%, NVS<sup>(b)</sup> | 769338 | 18125603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.273%), <br> 8.92%, NVS<sup>(b)(c)</sup><br>| 731617 | 18070940 |
|  |  | 877673890 |
| **Multi-Utilities — 2.0%** | **Multi-Utilities — 2.0%** | **Multi-Utilities — 2.0%** |
| &nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., Series 19-A, <br> 8.86%, NVS<sup>(c)</sup><br>| 1060222 | 26982650 |
| Brookfield Infrastructure Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; Series 13, 5.13%, NVS<sup>(b)</sup> | 604194 | 10120249 |
| &nbsp;&nbsp;&nbsp; Series 14, 5.00%, NVS<sup>(b)</sup> | 603658 | 9887918 |
| CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88% | 1908373 | 44178835 |
| &nbsp;&nbsp;&nbsp; 5.88%, NVS | 848152 | 19210643 |
| &nbsp;&nbsp;&nbsp; 5.63% | 613562 | 13473821 |
| &nbsp;&nbsp;&nbsp; Series C, 4.20%, NVS<sup>(b)</sup> | 696678 | 12157031 |
| DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38% | 848127 | 14562341 |
| &nbsp;&nbsp;&nbsp; Series E, 5.25% | 1211670 | 25614704 |
| &nbsp;&nbsp;&nbsp; Series G, 4.38% | 696678 | 11878360 |
| &nbsp;&nbsp;&nbsp; Series H, 6.25% | 1817494 | 45237426 |
| Sempra, 5.75% | 2294554 | 50732589 |
|  |  | 284036567 |
| **Office REITs — 0.7%** | **Office REITs — 0.7%** | **Office REITs — 0.7%** |
| City Office REIT, Inc., Series A, 6.63%, NVS<sup>(b)</sup> | 343487 | 8700526 |
| &nbsp;&nbsp;&nbsp; Hudson Pacific Properties, Inc., Series C, 4.75%, <br> NVS<sup>(b)(d)</sup><br>| 1287409 | 19967714 |
| SL Green Realty Corp., Series I, 6.50%, NVS<sup>(b)</sup> | 696703 | 14630763 |
| Vornado Realty Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 5.40%, NVS<sup>(b)</sup> | 910818 | 16094154 |
| &nbsp;&nbsp;&nbsp; Series M, 5.25%, NVS<sup>(b)</sup> | 967791 | 16404057 |
| &nbsp;&nbsp;&nbsp; Series N, 5.25%, NVS<sup>(b)(d)</sup> | 908699 | 15357013 |
| &nbsp;&nbsp;&nbsp; Series O, 4.45%, NVS<sup>(b)(d)</sup> | 920303 | 13114318 |
|  |  | 104268545 |
| **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** | **Oil, Gas & Consumable Fuels — 0.6%** |
| El Paso Energy Capital Trust I, 4.75%<sup>(a)</sup> | 333996 | 16415903 |
| &nbsp;&nbsp;&nbsp; NGL Energy Partners LP, Series B, (3-mo. CME <br> Term SOFR + 7.475%), 11.13%, NVS<sup>(b)(c)</sup><br>| 952022 | 22829488 |
| Seapeak LLC |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, NVS<sup>(b)</sup> | 360702 | 9143796 |
| &nbsp;&nbsp;&nbsp; Series B, 8.50%, NVS<sup>(b)</sup> | 491405 | 12525913 |
| TransCanada PipeLines Ltd., 6.25% | 1120941 | 27507892 |
|  |  | 88422992 |

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Real Estate Management & Development — 0.4%** | **Real Estate Management & Development — 0.4%** | **Real Estate Management & Development — 0.4%** |
| Brookfield Property Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, NVS<sup>(b)</sup> | 870830 | $11582039 |
| &nbsp;&nbsp;&nbsp; Series A-1, 6.50%, NVS<sup>(b)</sup> | 557317 | 8136828 |
| &nbsp;&nbsp;&nbsp; Series A2, 6.38%, NVS<sup>(b)</sup> | 757248 | 10813502 |
| Brookfield Property Preferred LP, 6.25% | 2032890 | 31509795 |
|  |  | 62042164 |
| **Residential REITs — 0.3%** | **Residential REITs — 0.3%** | **Residential REITs — 0.3%** |
| American Homes 4 Rent |  |  |
| &nbsp;&nbsp;&nbsp; Series G, 5.88%, NVS<sup>(b)</sup> | 352790 | 8145921 |
| &nbsp;&nbsp;&nbsp; Series H, 6.25%, NVS<sup>(b)</sup> | 352797 | 8576495 |
| UMH Properties, Inc., Series D, 6.38%, NVS<sup>(b)</sup> | 975004 | 21274587 |
|  |  | 37997003 |
| **Retail REITs — 0.5%** | **Retail REITs — 0.5%** | **Retail REITs — 0.5%** |
| Agree Realty Corp., Series A, 4.25%, NVS<sup>(b)(d)</sup> | 530060 | 9074627 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust, Series C, <br> 5.00%, NVS<sup>(b)</sup><br>| 454350 | 9132435 |
| Kimco Realty Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 5.13%, NVS<sup>(b)</sup> | 674151 | 13617850 |
| &nbsp;&nbsp;&nbsp; Series M, 5.25%, NVS<sup>(b)</sup> | 792460 | 16364299 |
| Regency Centers Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, NVS<sup>(b)</sup> | 352626 | 8307869 |
| &nbsp;&nbsp;&nbsp; Series B, 5.88%, NVS<sup>(b)</sup> | 352511 | 7956173 |
| Saul Centers, Inc., Series E, 6.00%, NVS<sup>(b)</sup> | 337766 | 7707820 |
|  |  | 72161073 |
| **Semiconductors & Semiconductor Equipment — 0.9%** | **Semiconductors & Semiconductor Equipment — 0.9%** | **Semiconductors & Semiconductor Equipment — 0.9%** |
| Microchip Technology, Inc., 7.50%<sup>(a)</sup> | 2249143 | 131080054 |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| Soluna Holdings, Inc., Series A, 9.00%, NVS<sup>(b)</sup> | 385238 | 3640499 |
| Strategy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(a)(b)(d)</sup> | 1054548 | 83056201 |
| &nbsp;&nbsp;&nbsp; 10.00%, NVS<sup>(b)(d)</sup> | 941755 | 95164343 |
| &nbsp;&nbsp;&nbsp; Series A, 10.00%, NVS<sup>(b)</sup> | 949595 | 71779886 |
| &nbsp;&nbsp;&nbsp; Series A., 9.00%, NVS<sup>(b)(e)</sup> | 2121281 | 209571956 |
|  |  | 463212885 |
| **Specialized REITs — 2.4%** | **Specialized REITs — 2.4%** | **Specialized REITs — 2.4%** |
| Digital Realty Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series J, 5.25%, NVS<sup>(b)(d)</sup> | 605799 | 12546097 |
| &nbsp;&nbsp;&nbsp; Series K, 5.85%, NVS<sup>(b)</sup> | 636159 | 15185115 |
| &nbsp;&nbsp;&nbsp; Series L, 5.20%, NVS<sup>(b)</sup> | 1045056 | 21392296 |
| EPR Properties |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.75%, NVS<sup>(a)(b)</sup> | 408380 | 9057868 |
| &nbsp;&nbsp;&nbsp; Series E, 9.00%, NVS<sup>(a)(b)</sup> | 260993 | 7808911 |
| &nbsp;&nbsp;&nbsp; Series G, 5.75%, NVS<sup>(b)</sup> | 454350 | 8923434 |
| Gladstone Land Corp., Series B, 6.00%<sup>(b)</sup> | 443730 | 8280002 |
| &nbsp;&nbsp;&nbsp; National Storage Affiliates Trust, Series A, 6.00%, <br> NVS<sup>(b)</sup><br>| 684317 | 14404873 |
| Public Storage |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.15%, NVS<sup>(b)</sup> | 848152 | 17514339 |
| &nbsp;&nbsp;&nbsp; Series G, 5.05%, NVS<sup>(b)</sup> | 908699 | 18319372 |
| &nbsp;&nbsp;&nbsp; Series H, 5.60%<sup>(b)</sup> | 863321 | 19735518 |
| &nbsp;&nbsp;&nbsp; Series I, 4.88%, NVS<sup>(b)(d)</sup> | 957991 | 18498806 |
| &nbsp;&nbsp;&nbsp; Series J, 4.70%, NVS<sup>(b)</sup> | 783782 | 14625372 |
| &nbsp;&nbsp;&nbsp; Series K, 4.75%, NVS<sup>(b)</sup> | 705588 | 13406172 |
| &nbsp;&nbsp;&nbsp; Series L, 4.63%, NVS<sup>(b)</sup> | 1711460 | 31662010 |
| &nbsp;&nbsp;&nbsp; Series M, 4.13%, NVS<sup>(b)</sup> | 696678 | 11418553 |
| &nbsp;&nbsp;&nbsp; Series N, 3.88%, NVS<sup>(b)</sup> | 866624 | 13372008 |
| &nbsp;&nbsp;&nbsp; Series O, 3.90%, NVS<sup>(b)</sup> | 525975 | 8231509 |
| &nbsp;&nbsp;&nbsp; Series P, 4.00%, NVS<sup>(b)</sup> | 1828820 | 29096526 |
| &nbsp;&nbsp;&nbsp; Series Q, 3.95%, NVS<sup>(b)</sup> | 444777 | 7005238 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** | **Specialized REITs (continued)** |
| Public Storage |  |  |
| &nbsp;&nbsp;&nbsp; Series R, 4.00%, NVS<sup>(b)</sup> | 1317695 | $21030412 |
| &nbsp;&nbsp;&nbsp; Series S, 4.10%, NVS<sup>(b)</sup> | 757222 | 12312430 |
|  |  | 333826861 |
| **Technology Hardware, Storage & Peripherals — 1.1%** | **Technology Hardware, Storage & Peripherals — 1.1%** | **Technology Hardware, Storage & Peripherals — 1.1%** |
| Hewlett Packard Enterprise Co., 7.63%<sup>(a)</sup> | 2271843 | 151509210 |
| **Trading Companies & Distributors — 0.8%** | **Trading Companies & Distributors — 0.8%** | **Trading Companies & Distributors — 0.8%** |
| FTAI Aviation Ltd., Series C, 8.25%, NVS<sup>(b)</sup> | 321679 | 8167430 |
| QXO, Inc., 5.50%, NVS<sup>(a)</sup> | 870855 | 48027653 |
| Triton International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(b)</sup> | 435413 | 10976762 |
| &nbsp;&nbsp;&nbsp; 7.38%, NVS<sup>(b)</sup> | 536925 | 13519772 |
| &nbsp;&nbsp;&nbsp; 6.88%, NVS<sup>(b)</sup> | 455573 | 10523736 |
| &nbsp;&nbsp;&nbsp; 7.63%<sup>(b)</sup> | 454375 | 11336656 |
| &nbsp;&nbsp;&nbsp; Series E, 5.75%, NVS<sup>(b)</sup> | 530060 | 10256661 |
|  |  | 112808670 |
| **Wireless Telecommunication Services — 1.2%** | **Wireless Telecommunication Services — 1.2%** | **Wireless Telecommunication Services — 1.2%** |
| Array Digital Infrastructure, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%<sup>(d)</sup> | 320579 | 6459667 |
| &nbsp;&nbsp;&nbsp; 5.50%<sup>(d)</sup> | 316663 | 5598602 |
| Telephone & Data Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series UU, 6.63%, NVS<sup>(b)</sup> | 1272243 | 26488099 |
| &nbsp;&nbsp;&nbsp; Series VV, 6.00%, NVS<sup>(b)</sup> | 2090108 | 39816558 |
| T-Mobile U.S.A., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | 1191948 | 29858297 |
| &nbsp;&nbsp;&nbsp; 5.50% | 1214035 | 28469121 |
| &nbsp;&nbsp;&nbsp; 5.50% | 1195765 | 27693917 |
|  |  | 164384261 |
| **Total Preferred Securities — 99.2%** <br>**(Cost: $15,485,171,037)** | **Total Preferred Securities — 99.2%** <br>**(Cost: $15,485,171,037)** | 13927409656 |
| **Total Long-Term Investments — 99.2%** <br>**(Cost: $15,485,978,367)** | **Total Long-Term Investments — 99.2%** <br>**(Cost: $15,485,978,367)** | 13928510749 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.4%** | **Money Market Funds — 2.4%** | **Money Market Funds — 2.4%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 3.89%<sup>(f)(g)(h)</sup><br>| 124904546 | 124966998 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 3.72%<sup>(f)(g)</sup><br>| 216157420 | 216157420 |
| **Total Short-Term Securities — 2.4%** <br>**(Cost: $341,103,982)** | **Total Short-Term Securities — 2.4%** <br>**(Cost: $341,103,982)** | 341124418 |
| **Total Investments — 101.6%** <br>**(Cost: $15,827,082,349)** | **Total Investments — 101.6%** <br>**(Cost: $15,827,082,349)** | 14269635167 |
| **Liabilities in Excess of Other Assets — (1.6)%** | **Liabilities in Excess of Other Assets — (1.6)%** | (229192093)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $14040443074 |

---

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

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

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

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

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

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

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

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

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

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

**Affiliates**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/31/25*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain* <br>*(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*12/31/25*<br>| *Shares* <br>*Held at* <br>*12/31/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Institutional, SL <br> Agency Shares<br>| &nbsp;&nbsp; $40850184<br>&nbsp;&nbsp; $84109930 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $4183 | &nbsp;&nbsp; $2701 | &nbsp;&nbsp; $124966998 | &nbsp;&nbsp; 124904546 | &nbsp;&nbsp; $2129956 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp; 168468346<br>&nbsp;&nbsp; 47689074 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 216157420 | &nbsp;&nbsp; 216157420 | &nbsp;&nbsp; 3092678 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $4183 | &nbsp;&nbsp; $2701 | &nbsp;&nbsp; $341124418 |  | &nbsp;&nbsp; $5222634 | &nbsp;&nbsp; $— |

---

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

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

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

**Fair Value Hierarchy as of Period End**

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1101093 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1101093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 13927409656 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13927409656 |
| &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; 341124418 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 341124418 |
|  | &nbsp;&nbsp; $14268534074 | &nbsp;&nbsp; $1101093 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $14269635167 |

---

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

---

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

---

------

Schedule of Investments (unaudited) (continued)

December 31, 2025

**iShares® Preferred and Income Securities ETF**

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LP | Limited Partnership |
| NVS | Non-Voting Shares |
| 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:** iShares Trust

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** iShares Preferred and Income Securities ETF

- **b. EDGAR series identifier (if any):** S000013499

- **c. LEI of Series:** 549300YX74JNY54XCY80

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $14174578363.01

**Total Liabilities:** $129436465.59

**Net Assets:** $14045141897.42

**Cash Not Reported:** $285584.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000036528 | -0.59%               | -0.42%               | 1.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-19018591.68            | $-126932433.66                             |
| Month 2  | $-10388380.98            | $-116474685.38                             |
| Month 3  | $14881804.85             | $11931366.67                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923850<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    887971 | NS      | $19322248.96  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP704<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1535736 | NS      | $36074438.64  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N707<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1765954 | NS      | $22039105.92  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W511<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    866912 | NS      | $13376452.16  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370837<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   2457056 | NS      | $50664494.72  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP INDUSTRIAL TRUST     | LXP Industrial Trust                              | CUSIP: 529043309<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EP               | CORP              | US        |    148054 | NS      | $6973343.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK GLOBAL         | BLACKROCK GLOBAL                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 124110832 | NS      | $124172887.10 | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868822<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |   1059574 | NS      | $21689479.78  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT CAPITAL BDC INC | Crescent Capital BDC Inc                          | CUSIP: 225655208<br>LEI: 549300VPIZMU6OEE0V68 | Long             | EP               | CORP              | US        |    342270 | NS      | $8573863.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    846467 | NS      | $16827763.96  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R308<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1647602 | NS      | $42804699.96  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOVUS FINANCIAL CORP   | Synovus Financial Corp                            | CUSIP: 87161C600<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EP               | CORP              | US        |    623711 | NS      | $15779888.30  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                      | CUSIP: 174610600<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |   1228455 | NS      | $32369789.25  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P109<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |   1073494 | NS      | $16510337.72  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORP           | Brunswick Corp/DE                                 | CUSIP: 117043604<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EP               | CORP              | US        |    660041 | NS      | $16699037.30  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP             | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    612646 | NS      | $10261820.50  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W420<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1336120 | NS      | $21324475.20  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP         | Old National Bancorp/IN                           | CUSIP: 68003D204<br>LEI: 549300MMK90CL5KMVX16 | Long             | EP               | CORP              | US        |    343953 | NS      | $8571308.76   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC       | NextEra Energy Inc                                | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |   3071244 | NS      | $158998301.88 | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W669<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    921322 | NS      | $18573851.52  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                          | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1151764 | NS      | $25488537.32  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R876<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   2472319 | NS      | $58717576.25  | 0.42%             |  |  |  | No            |                  1 | On Loan: —       |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N406<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    309526 | NS      | $7731959.48   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N889<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1083040 | NS      | $11956761.60  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973759<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1765955 | NS      | $39733987.50  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1765953 | NS      | $43336486.62  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC | Cullen/Frost Bankers Inc                          | CUSIP: 229899307<br>LEI: 529900V2E9G9AY665O34 | Long             | EP               | CORP              | US        |    477726 | NS      | $8293323.36   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042794<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    920609 | NS      | $13118678.25  | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W537<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    711654 | NS      | $11664009.06  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T306<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    891410 | NS      | $19780387.90  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER  | Reinsurance Group of America Inc                  | CUSIP: 759351802<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |   1228454 | NS      | $30490228.28  | 0.22%             |  |  |  | No            |                  1 | On Loan: —       |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q810<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |    549385 | NS      | $10866835.30  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R504<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   1842868 | NS      | $39842806.16  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H733<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   1305293 | NS      | $21197958.32  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                          | CUSIP: 30190A203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1059587 | NS      | $26966489.15  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3071245 | NS      | $76781125.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DILLARDS CAP TRUST I     | Dillard's Capital Trust I                         | CUSIP: 25406P200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    614189 | NS      | $16079468.02  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WAFD INC                 | WaFd Inc                                          | CUSIP: 938824307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    940529 | NS      | $15763266.04  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   3071244 | NS      | $60595644.12  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC             | Assurant Inc                                      | CUSIP: 04621X306<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EP               | CORP              | US        |    767809 | NS      | $14933885.05  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P208<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    798543 | NS      | $12944382.03  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS TRUST INC         | Adamas Trust Inc                                  | CUSIP: 649604873<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    572147 | NS      | $14120587.96  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B507<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    741773 | NS      | $18321793.10  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WESBANCO INC             | WesBanco Inc                                      | CUSIP: 950810887<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    706287 | NS      | $18215141.73  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W685<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    859971 | NS      | $17758401.15  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U887<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    352914 | NS      | $4930208.58   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOVUS FINANCIAL CORP   | Synovus Financial Corp                            | CUSIP: 87161C709<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EP               | CORP              | US        |   1091478 | NS      | $28214706.30  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61747S504<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3378378 | NS      | $65202695.40  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1559216 | NS      | $23902781.28  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q500<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    998237 | NS      | $25215466.62  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY  | Algonquin Power & Utilities Corp                  | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |   1074837 | NS      | $27354601.65  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W446<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    444924 | NS      | $7007553.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T806<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    322180 | NS      | $8228477.20   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS CAPITAL HLDGS LTD   | Axis Capital Holdings Ltd                         | CUSIP: 05461T305<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EP               | CORP              | BM        |   1712279 | NS      | $34142843.26  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    526072 | NS      | $12278520.48  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SAUL CENTERS INC         | Saul Centers Inc                                  | CUSIP: 804395879<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    337877 | NS      | $7710353.14   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38144G804<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   4146320 | NS      | $80645924.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS TRUST INC         | Adamas Trust Inc                                  | CUSIP: 649604881<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    475736 | NS      | $10304441.76  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FULTON FINANCIAL CORP    | Fulton Financial Corp                             | CUSIP: 360271308<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EP               | CORP              | US        |    633794 | NS      | $11934341.02  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    721706 | NS      | $17689014.06  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W552<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1735428 | NS      | $32105418.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973866<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |     44106 | NS      | $33717934.35  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                  | CUSIP: 26441C501<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |   3071244 | NS      | $76688962.68  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    464288 | NS      | $10725052.80  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150823<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |   1559216 | NS      | $26647001.44  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT | Apollo Global Management Inc                      | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |   2207384 | NS      | $166701639.68 | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GRANITE POINT MTGE TRST  | Granite Point Mortgage Trust Inc                  | CUSIP: 38741L305<br>LEI: 529900VX2HQZ76AYIE02 | Long             | EP               | CORP              | US        |    631817 | NS      | $12743748.89  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J408<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1765952 | NS      | $30074162.56  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSUR GRP INC/T | Hartford Insurance Group Inc/The                  | CUSIP: 416518603<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EP               | CORP              | US        |   1059599 | NS      | $26521762.97  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H758<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   2073085 | NS      | $34703442.90  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DIME COMMUNITY BANCSHARE | Dime Community Bancshares Inc                     | CUSIP: 25432X201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    410036 | NS      | $7335544.04   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423706<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    567700 | NS      | $12546170.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WEBSTER FINANCIAL CORP   | Webster Financial Corp                            | CUSIP: 947890703<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EP               | CORP              | US        |    429899 | NS      | $10137018.42  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q856<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    467738 | NS      | $11576515.50  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTSPRING HEALTH SERV | BrightSpring Health Services Inc                  | CUSIP: 10950A205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    614188 | NS      | $77516667.48  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| EIDP INC                 | EIDP Inc                                          | CUSIP: 263534307<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | EP               | CORP              | US        |    128382 | NS      | $8723556.90   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc                  | CUSIP: 05614L407<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |    588387 | NS      | $11714785.17  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P307<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    464288 | NS      | $11616485.76  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3071220 | NS      | $75306314.40  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR BANK NA         | Flagstar Bank NA                                  | CUSIP: 64944P307<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EP               | CORP              | US        |    226071 | NS      | $9054143.55   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 95002Y202<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   2669892 | NS      | $48378443.04  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W461<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1854240 | NS      | $29500958.40  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505195<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1657222 | NS      | $40651655.66  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B887<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    355938 | NS      | $9172522.26   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q745<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   1765954 | NS      | $38056308.70  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    537102 | NS      | $13524228.36  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T707<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    529472 | NS      | $13612725.12  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    619050 | NS      | $9514798.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRES COMMERCIAL REALTY  | ACRES Commercial Realty Corp                      | CUSIP: 00489Q300<br>LEI: 549300RUJWPCMY4JFR46 | Long             | EP               | CORP              | US        |    348866 | NS      | $7730870.56   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267868<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1382105 | NS      | $29383552.30  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423888<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    773736 | NS      | $12820805.52  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B580<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   4607057 | NS      | $89376905.80  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP | Atlanticus Holdings Corp                          | CUSIP: 04914Y409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    513435 | NS      | $12974502.45  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MIDLAND STATES BANCORP   | Midland States Bancorp Inc                        | CUSIP: 597742303<br>LEI: 5493006RHXW9TTBWYC94 | Long             | EP               | CORP              | US        |    358582 | NS      | $8971721.64   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N208<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    352914 | NS      | $8896961.94   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N202<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1151765 | NS      | $19257510.80  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973718<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   2303530 | NS      | $37639680.20  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2705417 | NS      | $59492119.83  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE | Hudson Pacific Properties Inc                     | CUSIP: 444097307<br>LEI: 529900EURZA5HRSXQ389 | Long             | EP               | CORP              | US        |   1305292 | NS      | $20245078.92  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CASH FUNDS     | BLACKROCK CASH FUNDS                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 216157420 | NS      | $216157420.40 | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO INC             | KKR & Co Inc                                      | CUSIP: 48251W609<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |   1812041 | NS      | $46297647.55  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                  | CUSIP: 26441C402<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |   1535742 | NS      | $37779253.20  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505179<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2051337 | NS      | $52370633.61  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320805<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |   1735428 | NS      | $41337894.96  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V804<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   1535735 | NS      | $31390423.40  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487600<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    935581 | NS      | $23249187.85  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T504<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    644634 | NS      | $14330213.82  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331792<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |   1842868 | NS      | $45868984.52  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   1382105 | NS      | $29867289.05  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W578<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    705822 | NS      | $13410618.00  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252827<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |   1382105 | NS      | $33585151.50  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   3202822 | NS      | $56914146.94  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630870<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    691104 | NS      | $16068168.00  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1535737 | NS      | $38055562.86  | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587883<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   2303528 | NS      | $40864586.72  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC           | Globe Life Inc                                    | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |    996909 | NS      | $16698225.75  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP     | Regency Centers Corp                              | CUSIP: 758849889<br>LEI: 529900053A7X7FJ97S58 | Long             | EP               | CORP              | US        |    352743 | NS      | $8310625.08   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNEX CAPITAL INC        | Dynex Capital Inc                                 | CUSIP: 26817Q878<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EP               | CORP              | US        |    342104 | NS      | $8751020.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423870<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    921322 | NS      | $15026761.82  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B309<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    780078 | NS      | $18378637.68  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U128<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   3003080 | NS      | $58109598.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W487<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    526149 | NS      | $8234231.85   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL SHIP LEASE INC    | Global Ship Lease Inc                             | CUSIP: 000000000<br>LEI: 254900GLZ0J5N8UZM071 | Long             | EP               | CORP              | GB        |    334500 | NS      | $8707035.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER  | Reinsurance Group of America Inc                  | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |   2152358 | NS      | $54755987.52  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST BUSEY CORPORATION  | First Busey Corp                                  | CUSIP: 319383600<br>LEI: 549300X4ZNLYSX7GUY60 | Long             | EP               | CORP              | US        |    670452 | NS      | $17264139.00  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP         | Old National Bancorp/IN                           | CUSIP: 68003D303<br>LEI: 549300MMK90CL5KMVX16 | Long             | EP               | CORP              | US        |    390125 | NS      | $9835051.25   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN BSP REALTY TRST | Franklin BSP Realty Trust Inc                     | CUSIP: 35243J200<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EP               | CORP              | US        |    792350 | NS      | $16900825.50  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546883<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    416417 | NS      | $9935709.62   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H824<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   4607056 | NS      | $87580134.56  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE FINANCIAL PARTN | Pinnacle Financial Partners Inc                   | CUSIP: 72346Q302<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EP               | CORP              | US        |    701889 | NS      | $17561262.78  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OZK                 | Bank OZK                                          | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |   1091478 | NS      | $18031216.56  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRES COMMERCIAL REALTY  | ACRES Commercial Realty Corp                      | CUSIP: 00489Q201<br>LEI: 549300RUJWPCMY4JFR46 | Long             | EP               | CORP              | US        |    366475 | NS      | $9235170.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC | Corebridge Financial Inc                          | CUSIP: 21871X208<br>LEI: 549300XY1661QCIA7J65 | Long             | EP               | CORP              | US        |   1842868 | NS      | $42846681.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R884<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    440933 | NS      | $11190879.54  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY LOUISIANA LLC    | Entergy Louisiana LLC                             | CUSIP: 29364W108<br>LEI: 0V5453U14HDZO63CGH17 | Long             | EP               | CORP              | US        |    829266 | NS      | $16958489.70  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    689010 | NS      | $13504596.00  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    921322 | NS      | $19356975.22  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| AGREE REALTY CORP        | Agree Realty Corp                                 | CUSIP: 008492209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    541521 | NS      | $9270839.52   | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| FEDERAL REALTY INVS TRST | Federal Realty Investment Trust                   | CUSIP: 313745200<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EP               | CORP              | US        |    464288 | NS      | $9332188.80   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY BROADBAND CORP   | Liberty Broadband Corp                            | CUSIP: 530307503<br>LEI: 549300MIX43II8JLN536 | Long             | EP               | CORP              | US        |    550245 | NS      | $13227889.80  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N307<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    375889 | NS      | $8750695.92   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N301<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1305293 | NS      | $19905718.25  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO REALTY GROWTH INC    | CTO Realty Growth Inc                             | CUSIP: 22948Q200<br>LEI: 254900ZQ99OFO1WXS678 | Long             | EP               | CORP              | US        |    361845 | NS      | $7417822.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W594<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    800862 | NS      | $14944084.92  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T405<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    987950 | NS      | $21932490.00  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TEEKAY LNG PARTNERS      | Seapeak LLC                                       | CUSIP: 000000000<br>LEI: 549300CP38L0UER0I397 | Long             | EP               | CORP              | BM        |    491567 | NS      | $12530042.83  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587867<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   1735428 | NS      | $44079871.20  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP     | Regency Centers Corp                              | CUSIP: 758849871<br>LEI: 529900053A7X7FJ97S58 | Long             | EP               | CORP              | US        |    352628 | NS      | $7958813.96   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC       | NextEra Energy Inc                                | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |   2303528 | NS      | $112296990.00 | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| TEXAS CAPITAL BANCSHARES | Texas Capital Bancshares Inc                      | CUSIP: 88224Q305<br>LEI: 549300466Q2SXRX0YM48 | Long             | EP               | CORP              | US        |    935581 | NS      | $18786466.48  | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| WEBSTER FINANCIAL CORP   | Webster Financial Corp                            | CUSIP: 947890505<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EP               | CORP              | US        |    477726 | NS      | $9124566.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    844633 | NS      | $14324975.68  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042828<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    981373 | NS      | $16634272.35  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST II             | SCE Trust II                                      | CUSIP: 78407R204<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    675617 | NS      | $11978689.41  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B200<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    390750 | NS      | $9401445.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc               | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |   2686600 | NS      | $68024712.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD FINANCE INC   | Brookfield Finance Inc                            | CUSIP: 11271L102<br>LEI: 549300XH8D8K6OYWGD17 | Long             | EP               | CORP              | CA        |   1228454 | NS      | $20220352.84  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R702<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    607142 | NS      | $11153198.54  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES  | Summit Hotel Properties Inc                       | CUSIP: 866082704<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |    309526 | NS      | $5602420.60   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5681904 | NS      | $111592594.56 | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T509<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    767778 | NS      | $14180859.66  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN TRUST CORP      | Northern Trust Corp                               | CUSIP: 665859856<br>LEI: 549300GLF98S992BC502 | Long             | EP               | CORP              | US        |   1228454 | NS      | $23856576.68  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| POPULAR CAPITAL TRUST II | Popular Capital Trust II                          | CUSIP: 73317H206<br>LEI: N/A                  | Long             | EP               | CORP              | PR        |    321680 | NS      | $8058084.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HANCOCK WHITNEY CORP     | Hancock Whitney Corp                              | CUSIP: 410120406<br>LEI: 549300GRNBWY8HIICT41 | Long             | EP               | CORP              | US        |    537941 | NS      | $12394160.64  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505815<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    577077 | NS      | $10877901.45  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECTIVE INSURANCE GROU | Selective Insurance Group Inc                     | CUSIP: 816300503<br>LEI: 549300R3WGJWLE40R258 | Long             | EP               | CORP              | US        |    614189 | NS      | $10269240.08  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VII            | SCE Trust VII                                     | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1689339 | NS      | $42706489.92  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROP PFD LP   | Brookfield Property Preferred LP                  | CUSIP: 000000000<br>LEI: 254900N07TR905Y0G344 | Long             | EP               | CORP              | CA        |   2061255 | NS      | $31949452.50  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T400<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    598927 | NS      | $14158634.28  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R508<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   3685510 | NS      | $74226171.40  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                   | Sempra                                            | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |   2326422 | NS      | $51437190.42  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    691104 | NS      | $17118646.08  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487402<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    309526 | NS      | $6373140.34   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BANC OF CALIFORNIA INC   | Banc of California Inc                            | CUSIP: 05990K841<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EP               | CORP              | US        |   1576334 | NS      | $39692090.12  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q203<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    358811 | NS      | $5742770.06   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B655<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5209646 | NS      | $129824378.32 | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORP        | Kimco Realty Corp                                 | CUSIP: 49446R711<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               | CORP              | US        |    809777 | NS      | $16721895.05  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T508<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |   1221052 | NS      | $30367563.24  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38143Y665<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   2303452 | NS      | $44571796.20  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150781<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |    545778 | NS      | $12050778.24  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002812<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |    921322 | NS      | $17855220.36  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VI             | SCE Trust VI                                      | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1458896 | NS      | $25399379.36  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| PITNEY BOWES INC         | Pitney Bowes Inc                                  | CUSIP: 724479506<br>LEI: 549300N2O26NW4ST6W55 | Long             | EP               | CORP              | US        |   1328364 | NS      | $27085341.96  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES  | Summit Hotel Properties Inc                       | CUSIP: 866082605<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |    495108 | NS      | $8961454.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PAR | Brookfield Renewable Partners LP                  | CUSIP: 000000000<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | CA        |    612625 | NS      | $11180406.25  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ARRAY DIGITAL INFRA INC  | Array Digital Infrastructure Inc                  | CUSIP: 911684702<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |    330063 | NS      | $6650769.45   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MAIDEN HOLDING LTD       | Maiden Holdings Ltd                               | CUSIP: 560292302<br>LEI: 5493000GQUKNWGNXRZ91 | Long             | EP               | CORP              | BM        |    342993 | NS      | $4458909.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP     | Ares Management Corp                              | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |   2303528 | NS      | $116097811.20 | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE            | Boeing Co/The                                     | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |   8823075 | NS      | $609321559.50 | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT    | American Homes 4 Rent                             | CUSIP: 02665T868<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |    352914 | NS      | $8579339.34   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CION INVESTMENT CORP     | CION Investment Corp                              | CUSIP: 17259U303<br>LEI: 549300XN70JLF94XKX80 | Long             | EP               | CORP              | US        |    460670 | NS      | $11595063.90  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST CITIZENS BANCSHARE | First Citizens BancShares Inc/NC                  | CUSIP: 319626305<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |   1075852 | NS      | $21732210.40  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP | Atlanticus Holdings Corp                          | CUSIP: 04914Y300<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    455242 | NS      | $11267239.50  | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| JACKSON FINANCIAL INC    | Jackson Financial Inc                             | CUSIP: 46817M206<br>LEI: 213800WXW2KG1N4CO374 | Long             | EP               | CORP              | US        |   1714427 | NS      | $44695111.89  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W396<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    779608 | NS      | $12676426.08  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T301<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    355938 | NS      | $8538952.62   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE LAND CORP      | Gladstone Land Corp                               | CUSIP: 376549309<br>LEI: 54930002B3Q17H38FG74 | Long             | EP               | CORP              | US        |    454674 | NS      | $8484216.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORP        | Kimco Realty Corp                                 | CUSIP: 49446R737<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               | CORP              | US        |    688751 | NS      | $13912770.20  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                 | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |   1535736 | NS      | $34477273.20  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EL PASO ENERGY CAP TRST  | El Paso Energy Capital Trust I                    | CUSIP: 283678209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    338722 | NS      | $16648186.30  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC GROUP INC            | QVC Group Inc                                     | CUSIP: 74915M308<br>LEI: 549300PSXEKU4PHLCR04 | Long             | EP               | CORP              | US        |    991534 | NS      | $3609183.76   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    417262 | NS      | $9254871.16   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   2610553 | NS      | $65550985.83  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R850<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    706366 | NS      | $16055699.18  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042810<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    928499 | NS      | $15691633.10  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |    864697 | NS      | $22101655.32  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M835<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    679683 | NS      | $9413609.55   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331818<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    866417 | NS      | $14876379.89  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T300<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |    325742 | NS      | $8329222.94   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   4061850 | NS      | $90457399.50  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    844633 | NS      | $19274525.06  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TENN VALLEY AUTHORITY    | Tennessee Valley Authority                        | CUSIP: 880591409<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |    639829 | NS      | $15611827.60  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| EQUITABLE HOLDINGS INC   | Equitable Holdings Inc                            | CUSIP: 29452E408<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |    930089 | NS      | $15132548.03  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B622<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   2764184 | NS      | $55947084.16  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331826<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    717270 | NS      | $12229453.50  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL      | Synchrony Financial                               | CUSIP: 87165B202<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |   2304422 | NS      | $45143626.98  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY NEW ORLEANS LLC  | Entergy New Orleans LLC                           | CUSIP: 29364P103<br>LEI: 1Q8BAFRNDFTDI3IGJH73 | Long             | EP               | CORP              | US        |    336952 | NS      | $7537616.24   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLYLE FINANCE LLC      | Carlyle Finance LLC                               | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1535735 | NS      | $26261068.50  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M827<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    314371 | NS      | $7768107.41   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150773<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |   1014796 | NS      | $25765670.44  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR RESIDENTIAL REIT  | ARMOUR Residential REIT Inc                       | CUSIP: 042315606<br>LEI: 549300K0WA0EJUX74V72 | Long             | EP               | CORP              | US        |    527047 | NS      | $11015282.30  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTIC UNION BANKSHARE | Atlantic Union Bankshares Corp                    | CUSIP: 04911A206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    544672 | NS      | $13251869.76  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                           | CUSIP: 808513865<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   1842868 | NS      | $34535346.32  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   2649042 | NS      | $65166433.20  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q831<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1059571 | NS      | $26743572.04  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   2841029 | NS      | $54547756.80  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487204<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    318464 | NS      | $6811944.96   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q401<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    611750 | NS      | $11103262.50  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   3071244 | NS      | $62161978.56  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U307<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    266721 | NS      | $7980292.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc               | CUSIP: 65339K860<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |   2111543 | NS      | $50275838.83  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FAT BRANDS INC           | FAT Brands Inc                                    | CUSIP: 30258N501<br>LEI: 549300TZCVF3UHX37729 | Long             | EP               | CORP              | US        |    684162 | NS      | $352685.51    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO MORTGAGE CAPITAL | Invesco Mortgage Capital Inc                      | CUSIP: 46131B506<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EP               | CORP              | US        |    536432 | NS      | $13115762.40  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QWEST CORP               | Qwest Corp                                        | CUSIP: 74913G873<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |   2026996 | NS      | $38512924.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3071244 | NS      | $78224584.68  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M819<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |   1174354 | NS      | $14444554.20  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    767794 | NS      | $10964098.32  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B648<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5681904 | NS      | $142843066.56 | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X409<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    619051 | NS      | $12213876.23  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B523<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   6142568 | NS      | $112224717.36 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| BRAEMAR HOTELS & RESORTS | Braemar Hotels & Resorts Inc                      | CUSIP: 10482B200<br>LEI: 549300JDUUEBN868C776 | Long             | EP               | CORP              | US        |    240017 | NS      | $3554651.77   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HAWAII CORP      | Bank of Hawaii Corp                               | CUSIP: 062545207<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |    562968 | NS      | $9283342.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042844<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    928499 | NS      | $16406577.33  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORP  | Wintrust Financial Corp                           | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |   1303950 | NS      | $33759265.50  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI AVIATION LTD        | FTAI Aviation Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    321787 | NS      | $8170171.93   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC         | T-Mobile USA Inc                                  | CUSIP: 87264A303<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |   1211436 | NS      | $28056857.76  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC   | Equitable Holdings Inc                            | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |   2495127 | NS      | $50401565.40  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M801<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    558657 | NS      | $11882634.39  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q807<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1236310 | NS      | $30920113.10  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN NATIONAL GROUP  | American National Group Inc                       | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    921321 | NS      | $23042238.21  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CITY OFFICE REIT         | City Office REIT Inc                              | CUSIP: 178587200<br>LEI: 5493003J7157VP25NL57 | Long             | EP               | CORP              | CA        |    343601 | NS      | $8703413.33   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORP       | First Horizon Corp                                | CUSIP: 320517865<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |    477720 | NS      | $8403094.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U656<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   1802047 | NS      | $43771721.63  | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| QWEST CORP               | Qwest Corp                                        | CUSIP: 74913G881<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |   3002263 | NS      | $56382499.14  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG OPERATING GROUP II   | TPG Operating Group II LP                         | CUSIP: 872652102<br>LEI: 2549001H9RJQNZT7MU11 | Long             | EP               | CORP              | US        |   1228454 | NS      | $30527081.90  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSCANADA PIPELINES    | TransCanada PipeLines Ltd                         | CUSIP: 893526681<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | EP               | CORP              | CA        |   1074730 | NS      | $26373874.20  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR GROUP FIN CO IX LLC  | KKR Group Finance Co IX LLC                       | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1534379 | NS      | $26805601.13  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                            | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |   1535735 | NS      | $25646774.50  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973668<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1403318 | NS      | $25484254.88  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q302<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    582169 | NS      | $10339321.44  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |   1228455 | NS      | $25969538.70  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q307<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    448619 | NS      | $9797838.96   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FOSSIL GROUP INC         | Fossil Group Inc                                  | CUSIP: 34988VAF3<br>LEI: DDMY8YZ6L8UEMS1FDM73 | Long             | DBT              | CORP              | US        |   1174925 | PA      | $1101092.71   | 0.01%             | 2029-06-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOLUNA HOLDINGS INC      | Soluna Holdings Inc                               | CUSIP: 583543202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    385388 | NS      | $3641916.60   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY CAPITAL INC/MD   | Trinity Capital Inc                               | CUSIP: 896442605<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EP               | CORP              | US        |    361830 | NS      | $9118116.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VIII           | SCE Trust VIII                                    | CUSIP: 80620A208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1074850 | NS      | $25549184.50  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM CORP                 | SLM Corp                                          | CUSIP: 78442P502<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    194266 | NS      | $14156163.42  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923876<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    720271 | NS      | $12280620.55  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBEMARLE CORP           | Albemarle Corp                                    | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |   3531906 | NS      | $209759897.34 | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H400<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2052205 | NS      | $37226998.70  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIFT4 PAYMENTS INC      | Shift4 Payments Inc                               | CUSIP: 82452J307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    767793 | NS      | $61431117.93  | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| SEAPEAK LLC              | Seapeak LLC                                       | CUSIP: 000000000<br>LEI: 549300CP38L0UER0I397 | Long             | EP               | CORP              | BM        |    360822 | NS      | $9146837.70   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SL GREEN REALTY CORP     | SL Green Realty Corp                              | CUSIP: 78440X507<br>LEI: 549300VQZPJU97H3GT17 | Long             | EP               | CORP              | US        |    706367 | NS      | $14833707.00  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773860<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    779608 | NS      | $15077618.72  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X706<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    353525 | NS      | $8908830.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL      | Synchrony Financial                               | CUSIP: 87165B400<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |   1535735 | NS      | $40374473.15  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC | Microchip Technology Inc                          | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |   2280334 | NS      | $132897865.52 | 0.95%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    859971 | NS      | $19478343.15  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUSPOINT LTD          | SiriusPoint Ltd                                   | CUSIP: 000000000<br>LEI: 549300OGXFI85N3YZZ51 | Long             | EP               | CORP              | BM        |    619741 | NS      | $15660855.07  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ARRAY DIGITAL INFRA INC  | Array Digital Infrastructure Inc                  | CUSIP: 911684884<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |    326015 | NS      | $5763945.20   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| XCEL ENERGY INC          | Xcel Energy Inc                                   | CUSIP: 98389B878<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EP               | CORP              | US        |   2765000 | NS      | $69014400.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H871<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1289717 | NS      | $25394527.73  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORP       | First Horizon Corp                                | CUSIP: 320517402<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |    477736 | NS      | $11551656.48  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   2211352 | NS      | $56301021.92  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC | Brookfield Infrastructure Finance ULC             | CUSIP: 11276B208<br>LEI: 984500CDDWC47U7DBA74 | Long             | EP               | CORP              | CA        |    484869 | NS      | $11888987.88  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY ARKANSAS LLC     | Entergy Arkansas LLC                              | CUSIP: 29364D100<br>LEI: 549300A0I5ONUIFMLP35 | Long             | EP               | CORP              | US        |   1259204 | NS      | $26065522.80  | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U505<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    464288 | NS      | $9118616.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V200<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   2649043 | NS      | $66888335.75  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R803<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1589455 | NS      | $40308578.80  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V605<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    336146 | NS      | $6413665.68   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896860<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    613766 | NS      | $13478301.36  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q406<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    998237 | NS      | $23209010.25  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNSTONE HOTEL INVESTORS | Sunstone Hotel Investors Inc                      | CUSIP: 867892804<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |    353514 | NS      | $7052604.30   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY CAPITAL INC/MD   | Trinity Capital Inc                               | CUSIP: 896442704<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EP               | CORP              | US        |    366180 | NS      | $9253368.60   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932872<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    464288 | NS      | $9624690.24   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG RE FINANCE TRUST INC | TPG RE Finance Trust Inc                          | CUSIP: 87266M206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    618156 | NS      | $11126808.00  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    151862 | NS      | $190131224.00 | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710862<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   1305271 | NS      | $32540406.03  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    569414 | NS      | $8313444.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630706<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    491037 | NS      | $11657218.38  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT    | American Homes 4 Rent                             | CUSIP: 02665T876<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |    352907 | NS      | $8148622.63   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SARATOGA INVESTMENT CORP | Saratoga Investment Corp                          | CUSIP: 80349A802<br>LEI: 54930023WJCWPAGSWE41 | Long             | EP               | CORP              | US        |    326509 | NS      | $8084362.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HP ENTERPRISE CO         | Hewlett Packard Enterprise Co                     | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |   2303528 | NS      | $153622282.32 | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CHATHAM LODGING          | Chatham Lodging Trust                             | CUSIP: 16208T201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    368494 | NS      | $7255646.86   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773605<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |   1382105 | NS      | $35368066.95  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002309<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   1535735 | NS      | $39744821.80  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORP       | UMB Financial Corp                                | CUSIP: 902788405<br>LEI: 549300MGEH3N3CUCV828 | Long             | EP               | CORP              | US        |    935581 | NS      | $25260687.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002788<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   1842868 | NS      | $48485857.08  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NY MELLON CORP   | Bank of New York Mellon Corp/The                  | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |   1535742 | NS      | $39391782.30  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS&ELEC         | Pacific Gas and Electric Co                       | CUSIP: 694308206<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | EP               | CORP              | US        |    325819 | NS      | $7145210.67   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC | Brookfield Infrastructure Finance ULC             | CUSIP: 11276B109<br>LEI: 984500CDDWC47U7DBA74 | Long             | EP               | CORP              | CA        |    767948 | NS      | $12509872.92  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320870<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |    921322 | NS      | $22756653.40  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932864<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    613766 | NS      | $10378783.06  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE OAK BANCSHARES      | Live Oak Bancshares Inc                           | CUSIP: 53803X402<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    312365 | NS      | $7980925.75   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q869<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    369114 | NS      | $9264761.40   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    798544 | NS      | $17032943.52  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H608<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1729923 | NS      | $29702777.91  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP               | Unum Group                                        | CUSIP: 91529Y601<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EP               | CORP              | US        |    921321 | NS      | $21300941.52  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T805<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |    583598 | NS      | $14905092.92  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH PROPERTIES INC       | UMH Properties Inc                                | CUSIP: 903002509<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EP               | CORP              | US        |    988393 | NS      | $21566735.26  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP             | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    612168 | NS      | $10027311.84  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505625<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    557486 | NS      | $10291191.56  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TENN VALLEY AUTHORITY    | Tennessee Valley Authority                        | CUSIP: 880591300<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |    787709 | NS      | $18944401.45  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION     | M&T Bank Corp                                     | CUSIP: 55261F864<br>LEI: 549300WYXDDBYRASEG81 | Long             | EP               | CORP              | US        |   2303530 | NS      | $61158721.50  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CONNECTONE BANCORP INC   | ConnectOne Bancorp Inc                            | CUSIP: 20786W503<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EP               | CORP              | US        |    358582 | NS      | $8781673.18   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002838<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   3531906 | NS      | $73958111.64  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPHONE & DATA SYS     | Telephone and Data Systems Inc                    | CUSIP: 879433761<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EP               | CORP              | US        |   2119174 | NS      | $40370264.70  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                   | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    721706 | NS      | $14903228.90  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC             | Strategy Inc                                      | CUSIP: 594972887<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   1070248 | NS      | $84292732.48  | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710847<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   1359015 | NS      | $34750013.55  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC INC                  | QVC Inc                                           | CUSIP: 747262301<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |    696283 | NS      | $5653817.96   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP INC  | CNO Financial Group Inc                           | CUSIP: 12621E301<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EP               | CORP              | US        |    464288 | NS      | $8821472.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148827<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    309525 | NS      | $7722648.75   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546867<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    391517 | NS      | $10038495.88  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N509<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1236310 | NS      | $19150441.90  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1059588 | NS      | $21297718.80  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M793<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    607492 | NS      | $12277413.32  | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973155<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   3071248 | NS      | $54821776.80  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPECT CAPITAL CORP    | Prospect Capital Corp                             | CUSIP: 74348T565<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EP               | CORP              | US        |    401458 | NS      | $6632086.16   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC             | Strategy Inc                                      | CUSIP: 594972879<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |    954755 | NS      | $96477992.75  | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    444924 | NS      | $11216534.04  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRE INC                | Spire Inc                                         | CUSIP: 84857L309<br>LEI: 549300NXSY15DRY2R511 | Long             | EP               | CORP              | US        |    767791 | NS      | $18411628.18  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KEMPER CORP              | Kemper Corp                                       | CUSIP: 488401308<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EP               | CORP              | US        |    460657 | NS      | $10779373.80  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794305<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    311871 | NS      | $7930879.53   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    266176 | NS      | $322605312.00 | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794404<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    467737 | NS      | $12235999.92  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   5374773 | NS      | $102228182.46 | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                            | CUSIP: 03939A107<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |   1013500 | NS      | $20543645.00  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T | Diversified Healthcare Trust                      | CUSIP: 25525P305<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    767794 | NS      | $13436395.00  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                      | CUSIP: 174610808<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |   1228455 | NS      | $31190472.45  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMADA HOFFLER PROPERTIE | Armada Hoffler Properties Inc                     | CUSIP: 04208T207<br>LEI: 549300WQRSIV6XZT9313 | Long             | EP               | CORP              | US        |    529527 | NS      | $11188905.51  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q604<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    619046 | NS      | $14083296.50  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    464500 | NS      | $11589275.00  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T706<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |   1428071 | NS      | $35173388.73  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932807<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    386752 | NS      | $8334505.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPHONE & DATA SYS     | Telephone and Data Systems Inc                    | CUSIP: 879433787<br>LEI: 5299003YZW5BE2NNLO37 | Long             | EP               | CORP              | US        |   1290031 | NS      | $26858445.42  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1535735 | NS      | $39453032.15  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AEGON FUNDING CO LLC     | AEGON Funding Co LLC                              | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |   2841027 | NS      | $55883001.09  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ LODGING TRUST        | RLJ Lodging Trust                                 | CUSIP: 74965L200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    988927 | NS      | $24624282.30  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC INC                  | QVC Inc                                           | CUSIP: 747262400<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |   1536350 | NS      | $12551979.50  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710821<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |    780823 | NS      | $20293589.77  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                   | CUSIP: 674001300<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    552839 | NS      | $11598562.22  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896837<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    717270 | NS      | $12516361.50  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR | New Mountain Finance Corp                         | CUSIP: 647551308<br>LEI: 549300L1MPTT1H7SES77 | Long             | EP               | CORP              | US        |    353086 | NS      | $9000162.14   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148843<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    368485 | NS      | $7178087.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC             | Strategy Inc                                      | CUSIP: 594972861<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |    962104 | NS      | $72725441.36  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVIENT CORP             | Navient Corp                                      | CUSIP: 63938C405<br>LEI: 54930067J0ZNOEBRW338 | Long             | EP               | CORP              | US        |    921322 | NS      | $18739689.48  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3992566 | NS      | $70428864.24  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773886<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    623711 | NS      | $15374476.15  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| M&T BANK CORPORATION     | M&T Bank Corp                                     | CUSIP: 55261F872<br>LEI: 549300WYXDDBYRASEG81 | Long             | EP               | CORP              | US        |    779621 | NS      | $19202065.23  | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38144X609<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    613766 | NS      | $12299870.64  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC             | Strategy Inc                                      | CUSIP: 594972853<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   2150839 | NS      | $212492139.01 | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794206<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    358582 | NS      | $9068538.78   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V886<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    610964 | NS      | $10801843.52  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY MISSISSIPPI LLC  | Entergy Mississippi LLC                           | CUSIP: 29364N108<br>LEI: 54930043I78H35DVVW89 | Long             | EP               | CORP              | US        |    798543 | NS      | $16402073.22  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MAIDEN HOLDINGS NA LTD   | Maiden Holdings North America Ltd                 | CUSIP: 56029Q408<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    467345 | NS      | $7384051.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |   1934953 | NS      | $44794161.95  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP CAPITAL XIII   | Citigroup Capital XIII                            | CUSIP: 173080201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   6898148 | NS      | $208324069.60 | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL RURAL UTIL COOP | National Rural Utilities Cooperative Finance Corp | CUSIP: 637432105<br>LEI: 4NYF266XZC35SCTGX023 | Long             | EP               | CORP              | US        |    767794 | NS      | $18166006.04  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148835<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    383978 | NS      | $6926963.12   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T | Diversified Healthcare Trust                      | CUSIP: 25525P206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1074850 | NS      | $17208348.50  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORP | Western Alliance Bancorp                          | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               | CORP              | US        |    935581 | NS      | $21218977.08  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1510832 | NS      | $37332658.72  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR BANK NA         | Flagstar Bank NA                                  | CUSIP: 649445202<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EP               | CORP              | US        |   1581600 | NS      | $35744160.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H806<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2489477 | NS      | $43914374.28  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BIP BERMUDA HOLDINGS I   | BIP Bermuda Holdings I Ltd                        | CUSIP: 05554M100<br>LEI: 549300Y8SLOLKXX0MZ44 | Long             | EP               | CORP              | BM        |    921322 | NS      | $15229452.66  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                        | CUSIP: 75968N309<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |    767794 | NS      | $16937535.64  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R506<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1290029 | NS      | $32134622.39  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1842869 | NS      | $46772015.22  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923868<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    453647 | NS      | $7657561.36   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505229<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2645160 | NS      | $66393516.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U838<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    398980 | NS      | $8362620.80   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3071244 | NS      | $80251605.72  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2543444 | NS      | $52801897.44  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORP    | Lincoln National Corp                             | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |   1556804 | NS      | $41769051.32  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505583<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    757705 | NS      | $14593398.30  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320888<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |   1535736 | NS      | $26491446.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J838<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1765952 | NS      | $44184119.04  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    360552 | NS      | $8292696.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505591<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    380795 | NS      | $7577820.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W628<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    971277 | NS      | $18755358.87  | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630607<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    691104 | NS      | $14146898.88  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868855<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |    614190 | NS      | $12719874.90  | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148868<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    307133 | NS      | $6462078.32   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1535749 | NS      | $39023382.09  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NGL ENERGY PARTNERS LP   | NGL Energy Partners LP                            | CUSIP: 62913M206<br>LEI: 5299005YSRP46BE8Z459 | Long             | EP               | CORP              | US        |    981263 | NS      | $23530686.74  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U606<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    404571 | NS      | $10134503.55  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V704<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    460662 | NS      | $8775611.10   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                      | CUSIP: 174610402<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |   1403318 | NS      | $26831440.16  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUKER CORP              | Bruker Corp                                       | CUSIP: 116794207<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EP               | CORP              | US        |    211973 | NS      | $77582118.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA POWER CO         | Georgia Power Co                                  | CUSIP: 373334440<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | EP               | CORP              | US        |    829262 | NS      | $18575468.80  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS TRUST INC         | Adamas Trust Inc                                  | CUSIP: 649604865<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    449003 | NS      | $10048687.14  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370811<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   1842868 | NS      | $40985384.32  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932880<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    613766 | NS      | $11655416.34  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC         | T-Mobile USA Inc                                  | CUSIP: 87264A204<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |   1230895 | NS      | $28864487.75  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    541520 | NS      | $10478412.00  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT | Apollo Global Management Inc                      | CUSIP: 03769M205<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |   1842868 | NS      | $48541143.12  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                           | CUSIP: 808513600<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   2303547 | NS      | $57588675.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H774<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |    383972 | NS      | $6727189.44   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINANCIAL INC       | Voya Financial Inc                                | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    921321 | NS      | $22784268.33  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423805<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    921322 | NS      | $18076337.64  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R209<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    942305 | NS      | $26101848.50  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD FIN I UK PLC  | Brookfield Finance I UK Plc                       | CUSIP: 11272B103<br>LEI: 213800JCKNPJE9FDCJ76 | Long             | EP               | CORP              | GB        |    709580 | NS      | $10735945.40  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR REAL ESTATE FIN      | KKR Real Estate Finance Trust Inc                 | CUSIP: 48251K209<br>LEI: 549300K23AYZDZ2REL62 | Long             | EP               | CORP              | US        |   1006630 | NS      | $18391130.10  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNSTONE HOTEL INVESTORS | Sunstone Hotel Investors Inc                      | CUSIP: 867892887<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |    307134 | NS      | $5924614.86   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| QXO INC                  | QXO Inc                                           | CUSIP: 82846H504<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    883089 | NS      | $48702358.35  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546800<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    392706 | NS      | $9876555.90   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE BANK             | Cadence Bank                                      | CUSIP: 12740C202<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EP               | CORP              | US        |    551039 | NS      | $11847338.50  | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| PG&E CORP                | PG&E Corp                                         | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |   2472319 | NS      | $101365079.00 | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   2303528 | NS      | $48673546.64  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL STORAGE AFFILIA | National Storage Affiliates Trust                 | CUSIP: 637870205<br>LEI: 529900FS06O8GOYNR108 | Long             | EP               | CORP              | US        |    697965 | NS      | $14692163.25  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378508<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    609228 | NS      | $15200238.60  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H782<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   3839038 | NS      | $69448197.42  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP886<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1247331 | NS      | $21516459.75  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868830<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |    645016 | NS      | $15396531.92  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W644<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    875233 | NS      | $20007826.38  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   5270228 | NS      | $102716743.72 | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA INC         | T-Mobile USA Inc                                  | CUSIP: 87264A105<br>LEI: 549300V2JRLO5DIFGE82 | Long             | EP               | CORP              | US        |   1208611 | NS      | $30275705.55  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                        | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |   1534506 | NS      | $24214504.68  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630862<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    921322 | NS      | $15754606.20  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267876<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1325362 | NS      | $28124181.64  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COMERICA INC             | Comerica Inc                                      | CUSIP: 200340701<br>LEI: I9Q57JVPWHHZ3ZGBW498 | Long             | EP               | CORP              | US        |   1228455 | NS      | $32062675.50  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST CITIZENS BANCSHARE | First Citizens BancShares Inc/NC                  | CUSIP: 31959X202<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |    623711 | NS      | $13216436.09  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V803<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    711655 | NS      | $13307948.50  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    889772 | NS      | $11833967.60  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO INC             | KKR & Co Inc                                      | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |   3973563 | NS      | $205989505.92 | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HAWAII CORP      | Bank of Hawaii Corp                               | CUSIP: 062540307<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |    519997 | NS      | $13909919.75  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-24

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer