# EDGAR Filing Document

**Accession Number:** 0001804196
**File Stem:** 0001410368-25-043480
**Filing Date:** 2025-12
**Character Count:** 319360
**Document Hash:** 8382ebba72bd75fe9604ae45b827d095
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043480.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043480

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23511
- **FILM NUMBER:** 251606903

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

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

## Series and Classes Contracts Data

### iShares Floating Rate Loan Active ETF (Series ID: S000077718)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000238207 | iShares Floating Rate Loan Active ETF |  |

## Nport-Ex

October 31, 2025

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

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock ETF Trust II** |
| • iShares Floating Rate Loan Active ETF \| BRLN \| Cboe BZX Exchange |

---

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

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

------

Schedule of Investments (unaudited)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., 7.75%, <br> 04/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; $55 | &nbsp;&nbsp; $54584 |
| **Chemicals — 0.2%** | **Chemicals — 0.2%** | **Chemicals — 0.2%** |
| WR Grace Holdings LLC, 5.63%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 91504 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| Brand Industrial Services Inc., 10.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 65428 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| GFL Environmental Inc., 4.00%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 24456 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| &nbsp;&nbsp;&nbsp; Chobani LLC/Chobani Finance Corp. Inc., 7.63%, <br> 07/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 57200 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| SWF Holdings I Corp., 6.50%, 10/06/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 14085 |
| **Internet — 1.0%** | **Internet — 1.0%** | **Internet — 1.0%** |
| Beignet Investor LLC, 6.58%, 05/30/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp; 554688 |
| Getty Images Inc., 11.25%, 02/21/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp; 46651 |
|  |  | &nbsp;&nbsp; 601339 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| Sabre GLBL Inc., 11.13%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 56700 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| &nbsp;&nbsp;&nbsp; Husky Injection Molding Systems Ltd./Titan <br> Co-Borrower LLC, 9.00%, 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 44425 |
| Vertiv Group Corp., 4.13%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 24629 |
|  |  | &nbsp;&nbsp; 69054 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 7.88%, <br> 08/15/26<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 54745 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| 1261229 BC Ltd., 10.00%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 209062 |
| **Retail — 0.3%** | **Retail — 0.3%** | **Retail — 0.3%** |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment <br> Finance Co. Inc., 6.75%, 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp; 148311 |
| White Cap Buyer LLC, 6.88%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 25000 |
|  |  | &nbsp;&nbsp; 173311 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp; Central Parent LLC/CDK Global II LLC/CDK Financing <br> Co. Inc., 8.00%, 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 78686 |
| Cloud Software Group Inc., 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 29996 |
|  |  | &nbsp;&nbsp; 108682 |
| **Total Corporate Bonds & Notes — 2.6%** <br>**(Cost: $1,550,548)** | **Total Corporate Bonds & Notes — 2.6%** <br>**(Cost: $1,550,548)** | &nbsp;&nbsp; 1580150 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Computers — 0.3%** | **Computers — 0.3%** | **Computers — 0.3%** |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Fixed Term Loan B, 7.75%, <br> 12/09/31<br>| &nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; 128436 |
| X Corp., 2025 Fixed Term Loan, 9.50%, 10/26/29 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 19044 |
|  |  | &nbsp;&nbsp; 147480 |
| **Software — 0.2%** | **Software — 0.2%** | **Software — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., 2024 Fixed Term Loan B, 7.63%, <br> 05/01/31<br>| &nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; 125510 |
| **Total Fixed Rate Loan Interests — 0.5%** <br>**(Cost: $275,646)** | **Total Fixed Rate Loan Interests — 0.5%** <br>**(Cost: $275,646)** | &nbsp;&nbsp; 272990 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Floating Rate Loan Interests** | **Floating Rate Loan Interests** | **Floating Rate Loan Interests** |
| **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., 2024 Term <br> Loan, (1-mo. CME Term SOFR at 0.00% Floor + <br> 4.11%), 8.08%, 08/23/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $24 | &nbsp;&nbsp; $23845 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 6.02%, 09/24/32<br>| &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 67936 |
| &nbsp;&nbsp;&nbsp; Planet U.S. Buyer LLC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR + 3.00%), 7.20%, 02/07/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp; 46820 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 5.26%), <br> 9.26%, 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; 25364 |
|  |  | &nbsp;&nbsp; 163965 |
| **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** | **Aerospace & Defense — 2.4%** |
| &nbsp;&nbsp;&nbsp; Barnes Group Inc., 2025 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.71%, <br> 01/27/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 45713 |
| &nbsp;&nbsp;&nbsp; Bleriot U.S. Bidco Inc., 2023 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 10/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 66 | &nbsp;&nbsp; 66126 |
| &nbsp;&nbsp;&nbsp; Cobham Ultra SeniorCo SARL, USD Term Loan B, <br> (6-mo. CME Term SOFR + 4.18%), 8.37%, <br> 08/03/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp; 152837 |
| Dynasty Acquisition Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B1, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 5.96%, <br> 10/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp; 257076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B2, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 5.96%, <br> 10/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp; 98127 |
| Kaman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.50%), 6.43%, <br> 02/26/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at <br> 0.50% Floor + 2.50%), 0.00%, 02/26/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp; 67426 |
| &nbsp;&nbsp;&nbsp; Propulsion BC Newco LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.74%, <br> 09/14/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 14820 |
| TransDigm Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan J, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.50%), 6.50%, 02/28/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 297 | &nbsp;&nbsp; 297762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan L, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.50%), 6.50%, 01/19/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp; 161682 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.00% Floor + 2.25%), <br> 6.25%, 03/22/30<br>| &nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp; 116613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.50%, 08/19/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 182 | &nbsp;&nbsp; 182040 |
|  |  | &nbsp;&nbsp; 1460833 |
| **Airlines — 1.3%** | **Airlines — 1.3%** | **Airlines — 1.3%** |
| AAdvantage Loyalty IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.13%, 04/20/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp; 44590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.13%, 05/28/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; 39919 |
| &nbsp;&nbsp;&nbsp; Air Canada, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 5.96%, 03/21/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp; 142016 |
| American Airlines Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2017 1st Lien Term Loan, (3-mo. CME Term SOFR <br> at 0.00% Floor + 1.85%), 5.69%, 01/29/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp; 78170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 1st Lien Term Loan, (6-mo. CME Term SOFR <br> at 0.00% Floor + 2.25%), 6.26%, 06/04/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp; 108525 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (6-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.50%, <br> 02/15/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $147 | &nbsp;&nbsp; $146603 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp., 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 4.75%), 0.00%, <br> 08/27/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp; 96967 |
| &nbsp;&nbsp;&nbsp; United Airlines Inc., 2024 1st Lien Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 6.20%, <br> 02/22/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp; 107747 |
|  |  | &nbsp;&nbsp; 764537 |
| **Apparel — 0.3%** | **Apparel — 0.3%** | **Apparel — 0.3%** |
| ABG Intermediate Holdings 2 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.21%, <br> 12/21/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp; 104869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Delayed Draw Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.21%, <br> 02/13/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59451 |
|  |  | &nbsp;&nbsp; 164320 |
| **Auto Parts & Equipment — 1.5%** | **Auto Parts & Equipment — 1.5%** | **Auto Parts & Equipment — 1.5%** |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, (1-mo. CME Term SOFR + <br> 2.50%), 6.46%, 05/06/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp; 325130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 USD Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.75%), 6.71%, 01/28/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 150329 |
| &nbsp;&nbsp;&nbsp; Garrett LX I SARL, 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 5.84%, <br> 01/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp; 11988 |
| Qnity Electronics Inc., 11/01/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp; 228858 |
| &nbsp;&nbsp;&nbsp; Realtruck Group Inc., 2023 Incremental Term Loan, <br> (1-mo. CME Term SOFR + 5.11%), 9.08%, <br> 01/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 48671 |
| RealTruck Group, Inc., 01/31/28<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp; 12621 |
| &nbsp;&nbsp;&nbsp; Tenneco Inc., 2022 Term Loan B, (3-mo. CME Term <br> SOFR + 5.10%), 9.30%, 11/17/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp; 136581 |
|  |  | &nbsp;&nbsp; 914178 |
| **Banks — 0.3%** | **Banks — 0.3%** | **Banks — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ascensus Holdings Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 6.96%, <br> 08/02/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp; 203029 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| Naked Juice LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLSO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.35%), 7.35%, 01/24/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp; 38316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLFO Term Loan, (3-mo. CME Term SOFR at <br> 1.00% Floor + 5.50%), 9.50%, 01/24/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp; 136950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 FLTO Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.10%, 01/24/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 19021 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.25%), 6.25%, <br> 03/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp; 107065 |
| &nbsp;&nbsp;&nbsp; Sazerac Co Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.58%, 07/09/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 73331 |
|  |  | &nbsp;&nbsp; 374683 |
| **Building Materials — 2.6%** | **Building Materials — 2.6%** | **Building Materials — 2.6%** |
| &nbsp;&nbsp;&nbsp; Chariot Buyer LLC, (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.00%), 6.96%, 09/08/32<br>| &nbsp;&nbsp;&nbsp; 274 | &nbsp;&nbsp; 274416 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc., 2025 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 5.25%), 9.21%, <br> 07/08/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp; 97441 |
| Emrld Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (6-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.12%, 08/04/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 187 | &nbsp;&nbsp; 186631 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.25%), 6.45%, 05/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $239 | &nbsp;&nbsp; $238605 |
| &nbsp;&nbsp;&nbsp; Potters Borrower LP, 2025 Repriced Term Loan B, <br> (1-mo. CME Term SOFR at 0.75% Floor + 3.00%), <br> 6.96%, 12/14/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 58278 |
| Quikrete Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.21%, 03/19/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; 118953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.21%, 02/10/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp; 108552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.21%, 04/14/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp; 135896 |
| &nbsp;&nbsp;&nbsp; Standard Industries Inc./NJ, 2021 Term Loan B, (1-mo. <br> CME Term SOFR + 1.75%), 5.75%, 09/22/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 12849 |
| &nbsp;&nbsp;&nbsp; Wilsonart LLC, 2024 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.25%, 08/05/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 286 | &nbsp;&nbsp; 276408 |
| &nbsp;&nbsp;&nbsp; Zurn LLC, 2021 Term Loan B, (1-mo. CME Term <br> SOFR + 2.11%), 6.08%, 10/04/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 20064 |
|  |  | &nbsp;&nbsp; 1528093 |
| **Chemicals — 3.6%** | **Chemicals — 3.6%** | **Chemicals — 3.6%** |
| &nbsp;&nbsp;&nbsp; Aruba Investments Holdings LLC, 2020 USD Term <br> Loan, (1-mo. CME Term SOFR + 4.10%), 8.06%, <br> 11/24/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 83 | &nbsp;&nbsp; 77289 |
| &nbsp;&nbsp;&nbsp; Ascend Performance Materials Operations LLC, 2021 <br> Term Loan B, (6-mo. CME Term SOFR at 0.75% <br> Floor + 4.85%), 8.72%, 08/27/26<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 120 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems U.S. Holdings Inc., 2024 Term <br> Loan B7, (3-mo. CME Term SOFR at 0.50% Floor + <br> 1.75%), 5.75%, 12/20/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp; 200789 |
| &nbsp;&nbsp;&nbsp; Chemours Co. (The), (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.50%), 7.46%, 10/15/32<br>| &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; 198290 |
| &nbsp;&nbsp;&nbsp; Derby Buyer LLC, 2024 Repriced Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 7.05%, <br> 11/01/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp; 119829 |
| &nbsp;&nbsp;&nbsp; Discovery Purchaser Corp., Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 3.75%), 7.61%, <br> 10/04/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 36335 |
| &nbsp;&nbsp;&nbsp; ECO Services Operations Corp., 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 0.00%, 06/12/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 137919 |
| &nbsp;&nbsp;&nbsp; Element Solutions Inc., 2023 Term Loan B, (1-mo. <br> CME Term SOFR + 1.75%), 5.71%, 12/18/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 163 | &nbsp;&nbsp; 163952 |
| &nbsp;&nbsp;&nbsp; Fortis 333 Inc., USD Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.50%), 7.50%, 03/29/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 47118 |
| &nbsp;&nbsp;&nbsp; HB Fuller Co., 2025 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 5.71%, 02/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp; 144492 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Finance LLC, 2023 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 7.21%, 02/18/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 46733 |
| &nbsp;&nbsp;&nbsp; INEOS U.S. Petrochem LLC, 2024 USD Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.25%), <br> 8.21%, 10/07/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp; 35809 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG, USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.03%), 8.03%, <br> 07/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp; 126496 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies Inc., 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 5.97%, <br> 11/26/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 122077 |
| &nbsp;&nbsp;&nbsp; Nouryon Finance B.V., 2024 USD Term Loan B1, <br> (6-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 0.00%, 04/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 70964 |
| &nbsp;&nbsp;&nbsp; Olympus Water U.S. Holding Corp., 2024 USD Term <br> Loan, (3-mo. CME Term SOFR at 0.50% Floor + <br> 3.00%), 7.00%, 06/20/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp; 232179 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; Oxea Holding Drei GmbH, 2017 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.35%), <br> 8.29%, 04/08/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $55 | &nbsp;&nbsp; $49322 |
| &nbsp;&nbsp;&nbsp; Paint Intermediate III LLC, 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.24%, <br> 10/09/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 64578 |
| &nbsp;&nbsp;&nbsp; Sparta U.S. HoldCo LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 3.00%), 7.13%, <br> 08/02/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 177977 |
| &nbsp;&nbsp;&nbsp; W.R. Grace & Co.-Conn., (3-mo. CME Term SOFR at <br> 0.50% Floor + 3.00%), 7.00%, 08/19/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp; 73515 |
|  |  | &nbsp;&nbsp; 2125783 |
| **Commercial Services — 8.2%** | **Commercial Services — 8.2%** | **Commercial Services — 8.2%** |
| &nbsp;&nbsp;&nbsp; Aggreko Holdings Inc., 2025 USD Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 0.00%, <br> 05/21/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 160 | &nbsp;&nbsp; 160549 |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.00%), 5.96%, 08/12/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp; 234308 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, (1-mo. CME Term SOFR <br> at 0.00% Floor + 3.35%), 7.31%, 08/20/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp; 382107 |
| &nbsp;&nbsp;&nbsp; Anticimex International AB, 2024 Term Loan B6, <br> (3-mo. SOFR + 3.40%), 7.76%, 11/16/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 44478 |
| &nbsp;&nbsp;&nbsp; APi Group DE Inc., 2025 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.71%, <br> 01/03/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 291 | &nbsp;&nbsp; 291460 |
| &nbsp;&nbsp;&nbsp; Belron Finance 2019 LLC, (3-mo. CME Term SOFR at <br> 0.50% Floor + 2.25%), 6.49%, 10/16/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp; 376538 |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, 2025 USD Term Loan B2, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 6.00%, 01/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 129668 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions LLC, (1-mo. CME <br> Term SOFR at 0.50% Floor + 1.75%), 5.71%, <br> 08/23/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp; 134022 |
| &nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR + 2.75%), 0.00%, <br> 01/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp; 75629 |
| &nbsp;&nbsp;&nbsp; Champions Financing Inc., 2024 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 4.75%), 0.00%, <br> 02/23/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp; 12601 |
| &nbsp;&nbsp;&nbsp; CHG Healthcare Services Inc., (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 0.00%, 09/29/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; 128253 |
| &nbsp;&nbsp;&nbsp; Citrin Cooperman Advisors LLC, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.00%, 04/01/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp; 90384 |
| &nbsp;&nbsp;&nbsp; Creative Artists Agency, LLC, 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.46%, 10/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 312 | &nbsp;&nbsp; 312794 |
| &nbsp;&nbsp;&nbsp; Element Materials Technology Group U.S. Holdings <br> Inc., 2022 USD Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.68%), 7.68%, 07/06/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 58679 |
| &nbsp;&nbsp;&nbsp; Ensemble RCM LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 6.84%, <br> 08/01/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 138578 |
| &nbsp;&nbsp;&nbsp; Fleet Midco I Ltd., 2024 1st Lien Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.54%, <br> 02/21/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp; 71609 |
| &nbsp;&nbsp;&nbsp; Galaxy U.S. Opco Inc., Term Loan, (3-mo. CME Term <br> SOFR + 2.00% and 3.75% PIK), 9.59%, <br> 07/31/30<sup>(b)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 58655 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.05%, 02/01/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp; 180133 |
| &nbsp;&nbsp;&nbsp; Grant Thornton Advisors LLC, 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.46%, 06/02/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp; 98447 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.11%, 06/02/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $27 | &nbsp;&nbsp; $27090 |
| Hertz Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B, (1-mo. CME Term SOFR + <br> 3.61%), 7.58%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp; 92630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan C, (1-mo. CME Term SOFR + <br> 3.61%), 7.58%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 17538 |
| &nbsp;&nbsp;&nbsp; Ingenovis Health Inc., Term Loan B, (3-mo. CME Term <br> SOFR + 4.51%), 8.71%, 03/06/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 9278 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S. Inc., USD Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 0.00%, 10/07/32<br>| &nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp; 288625 |
| &nbsp;&nbsp;&nbsp; KUEHG Corp., 2025 Term Loan, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.75%, 06/12/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 27531 |
| &nbsp;&nbsp;&nbsp; Learning Care Group U.S. No. 2 Inc., 2024 Term Loan <br> B, (3-mo. CME Term SOFR + 4.00%), 0.00%, <br> 08/11/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 7684 |
| &nbsp;&nbsp;&nbsp; Mavis Tire Express Services Topco Corp., 2025 <br> Repriced Term Loan, (3-mo. CME Term SOFR at <br> 0.75% Floor + 3.00%), 7.20%, 05/04/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 296 | &nbsp;&nbsp; 296748 |
| &nbsp;&nbsp;&nbsp; OMNIA Partners LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 0.00%, <br> 07/25/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp; 104073 |
| &nbsp;&nbsp;&nbsp; PG Investment Co. 59 SARL, Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.71%, <br> 03/26/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59729 |
| Prime Security Services Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.86%, <br> 03/07/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 241 | &nbsp;&nbsp; 239518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (6-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.13%, <br> 10/13/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; 26559 |
| &nbsp;&nbsp;&nbsp; Raven Acquisition Holdings LLC, Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 6.96%, <br> 11/19/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 81229 |
| &nbsp;&nbsp;&nbsp; Ryan LLC, Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.50%), 7.46%, 11/14/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 5880 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, LLC, 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 06/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 54293 |
| Trans Union LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.71%, 06/24/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp; 178182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B9, (1-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.71%, 06/24/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp; 103887 |
| &nbsp;&nbsp;&nbsp; TruGreen LP, 2020 Term Loan, (1-mo. CME Term <br> SOFR + 4.10%), 8.06%, 11/02/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29044 |
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Second Out Term Loan, (3-mo. <br> CME Term SOFR at % + 6.25%), 10.37%, <br> 12/17/28<sup>(b)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 7332 |
| &nbsp;&nbsp;&nbsp; Wand NewCo 3 Inc., 2025 Repriced Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.50%), <br> 6.46%, 01/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp; 178018 |
| WEX Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.71%, 03/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Incremental Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.71%, <br> 03/05/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59476 |
|  |  | &nbsp;&nbsp; 4902908 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Computers — 1.5%** | **Computers — 1.5%** | **Computers — 1.5%** |
| Atlas CC Acquisition Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.75% Floor + 4.51%), <br> 8.37%, 05/25/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $273 | &nbsp;&nbsp; $155746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.75% Floor + 4.51%), <br> 8.37%, 05/25/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 20949 |
| &nbsp;&nbsp;&nbsp; Clover Holdings 2 LLC, Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.75%), 7.83%, <br> 12/09/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp; 131135 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3 Inc., 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.00%), <br> 7.11%, 06/27/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 58681 |
| &nbsp;&nbsp;&nbsp; McAfee LLC, 2024 USD 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.00%), 6.96%, <br> 03/01/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp; 149105 |
| &nbsp;&nbsp;&nbsp; Peraton Corp., Term Loan B, (3-mo. CME Term SOFR <br> at 0.75% Floor + 3.85%), 7.69%, 02/01/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp; 142258 |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan, (3-mo. CME Term SOFR at <br> 0.50% Floor + 6.75%), 10.34%, 10/26/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 264 | &nbsp;&nbsp; 256868 |
|  |  | &nbsp;&nbsp; 914742 |
| **Distribution & Wholesale — 1.8%** | **Distribution & Wholesale — 1.8%** | **Distribution & Wholesale — 1.8%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply Co. Inc., 2024 <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.71%, 01/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp; 167773 |
| Core & Main LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 5.99%, 07/27/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp; 95830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan E, (1-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 5.99%, 02/09/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp; 214286 |
| &nbsp;&nbsp;&nbsp; Dealer Tire Financial LLC, 2024 Term Loan B4, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 6.96%, <br> 07/02/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp; 116804 |
| &nbsp;&nbsp;&nbsp; Gates Global LLC, 2024 Term Loan B5, (1-mo. CME <br> Term SOFR + 1.75%), 5.71%, 06/04/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp; 251354 |
| Olympus Water U.S. Holding Corp., 07/23/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp; 141290 |
| &nbsp;&nbsp;&nbsp; PAI Holdco Inc., 2020 Term Loan B, (1-mo. CME Term <br> SOFR + 3.86%), 7.83%, 10/28/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 36377 |
| &nbsp;&nbsp;&nbsp; Resideo Funding Inc., (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.04%, 08/13/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 78803 |
|  |  | &nbsp;&nbsp; 1102517 |
| **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** |
| &nbsp;&nbsp;&nbsp; Advisor Group, Inc., (1-mo. CME Term SOFR at 0.00% <br> Floor + 3.00%), 6.96%, 07/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp; 188235 |
| &nbsp;&nbsp;&nbsp; AllSpring Buyer LLC, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 6.81%, 11/01/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 24975 |
| &nbsp;&nbsp;&nbsp; Apex Group Treasury LLC, 2025 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 7.75%, 02/27/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp; 141352 |
| &nbsp;&nbsp;&nbsp; Aretec Group Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.46%, <br> 08/09/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 68231 |
| Chicago U.S. Midco III LP |  |  |
| &nbsp;&nbsp;&nbsp; 10/30/32<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp; 155421 |
| &nbsp;&nbsp;&nbsp; 10/30/32<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp; 23082 |
| &nbsp;&nbsp;&nbsp; Citadel Securities LP, 2024 First Lien Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 5.96%, 10/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp; 149334 |
| &nbsp;&nbsp;&nbsp; Corpay Technologies Operating Co. LLC, Term Loan <br> B5, (1-mo. CME Term SOFR at 0.00% Floor + <br> 1.75%), 5.81%, 04/28/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp; 208438 |
| CPI Holdco B LLC |  |  |
| &nbsp;&nbsp;&nbsp; 05/17/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 42966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR + <br> 2.00%), 5.96%, 05/19/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 273 | &nbsp;&nbsp; 272684 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Edelman Financial Engines Center LLC (The), 2024 <br> Term Loan, (1-mo. CME Term SOFR at 0.00% Floor <br> + 3.00%), 6.96%, 04/07/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $169 | &nbsp;&nbsp; $169522 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, 2025 Incremental Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.71%, 09/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp; 208501 |
| &nbsp;&nbsp;&nbsp; GTCR Everest Borrower LLC, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.75%, 09/05/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp; 45007 |
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, 2024 Term Loan B1, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 0.00%, <br> 12/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp; 248624 |
| &nbsp;&nbsp;&nbsp; Lavender Dutch BorrowerCo BV, USD Term Loan, <br> 09/27/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 79000 |
| &nbsp;&nbsp;&nbsp; Orion U.S. Finco, Inc., (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.50%), 7.43%, 10/08/32<br>| &nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp; 90394 |
| &nbsp;&nbsp;&nbsp; Setanta Aircraft Leasing DAC, 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.75%, 11/05/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 10536 |
| &nbsp;&nbsp;&nbsp; Summit Acquisition Inc., 2025 Add-on Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 0.00%, 10/16/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 5995 |
|  |  | &nbsp;&nbsp; 2132297 |
| **Electric — 1.5%** | **Electric — 1.5%** | **Electric — 1.5%** |
| &nbsp;&nbsp;&nbsp; Calpine Construction Finance Co. LP, 2023 <br> Refinancing Term Loan B, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 5.96%, 07/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 149 | &nbsp;&nbsp; 148898 |
| &nbsp;&nbsp;&nbsp; ExGen Renewables IV LLC, 2020 Term Loan, (3-mo. <br> CME Term SOFR at 1.00% Floor + 2.00%), 5.94%, <br> 12/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 89367 |
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., 2024 Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 0.00%, 04/16/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 301 | &nbsp;&nbsp; 301418 |
| Sanmina Corp., 0.00%, 10/27/32<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp; 90000 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2024-1 Incremental Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.50%), 6.73%, 12/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 58585 |
| Talen Energy Supply, LLC, 10/11/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 72939 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, 1st Lien Term Loan B3, <br> (1-mo. CME Term SOFR + 1.75%), 5.71%, <br> 12/20/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; 118887 |
|  |  | &nbsp;&nbsp; 880094 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| Spectris PLC, USD Term Loan, 09/30/32<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp; 23029 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| &nbsp;&nbsp;&nbsp; Celestica Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.74%, <br> 06/20/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp; 69146 |
| &nbsp;&nbsp;&nbsp; Coherent Corp., (1-mo. CME Term SOFR at 0.50% <br> Floor + 1.75%), 5.71%, 07/02/29<br>| &nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp; 97768 |
| &nbsp;&nbsp;&nbsp; Lsf12 Crown U.S. Commercial Bidco LLC, 2025 Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.50%), 7.66%, 12/02/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp; 67187 |
| &nbsp;&nbsp;&nbsp; Pinnacle Buyer LLC, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.50%), 6.49%, 10/01/32<br>| &nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 81516 |
|  |  | &nbsp;&nbsp; 315617 |
| **Engineering & Construction — 1.6%** | **Engineering & Construction — 1.6%** | **Engineering & Construction — 1.6%** |
| &nbsp;&nbsp;&nbsp; Apple Bidco LLC, 2025 Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.46%, 09/23/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 296 | &nbsp;&nbsp; 296292 |
| &nbsp;&nbsp;&nbsp; Blackfin Pipeline LLC, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 7.00%, 09/29/32<br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 42946 |
| &nbsp;&nbsp;&nbsp; Brand Industrial Services Inc., 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 4.50%), <br> 8.80%, 08/01/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp; 202394 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Engineering & Construction (continued)** | **Engineering & Construction (continued)** | **Engineering & Construction (continued)** |
| &nbsp;&nbsp;&nbsp; Brown Group Holding LLC, 2022 Incremental Term <br> Loan B2, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.50%), 0.00%, 07/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $163 | &nbsp;&nbsp; $163829 |
| &nbsp;&nbsp;&nbsp; Construction Partners Inc., Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.46%, <br> 11/03/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 27825 |
| &nbsp;&nbsp;&nbsp; Legence Holdings LLC, (1-mo. CME Term SOFR at <br> 0.75% Floor + 2.25%), 6.23%, 12/16/31<br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 55146 |
| &nbsp;&nbsp;&nbsp; SBA Senior Finance II LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.72%, <br> 01/25/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp; 195343 |
|  |  | &nbsp;&nbsp; 983775 |
| **Entertainment — 5.6%** | **Entertainment — 5.6%** | **Entertainment — 5.6%** |
| &nbsp;&nbsp;&nbsp; Bally's Corp., 2021 Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.51%), 7.37%, 10/02/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 53452 |
| Caesars Entertainment Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.25%), <br> 6.21%, 02/06/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp; 33109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR + <br> 2.25%), 6.21%, 02/06/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 346 | &nbsp;&nbsp; 342422 |
| &nbsp;&nbsp;&nbsp; Crown Finance U.S. Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 4.50%), 8.63%, <br> 12/02/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 79250 |
| &nbsp;&nbsp;&nbsp; Delta 2 Lux SARL, 2024 Term Loan B1, (3-mo. CME <br> Term SOFR at 0.50% Floor + 2.00%), 6.00%, <br> 09/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp; 292801 |
| &nbsp;&nbsp;&nbsp; DK Crown Holdings Inc., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.86%, <br> 03/04/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 179 | &nbsp;&nbsp; 178204 |
| &nbsp;&nbsp;&nbsp; ECL Entertainment, LLC, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.00%), 6.96%, 08/30/30<br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29501 |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 6.96%, 03/24/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 368 | &nbsp;&nbsp; 369458 |
| Flutter Financing B.V. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.75%, 11/30/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 271 | &nbsp;&nbsp; 269922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at <br> 0.50% Floor + 2.00%), 6.00%, 06/04/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp; 91134 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp., 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.75%, 11/01/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp; 74997 |
| &nbsp;&nbsp;&nbsp; Herschend Entertainment Co., LLC, 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 3.25%), 7.21%, 05/27/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; 86107 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International Inc., 2024 Term Loan B2, <br> (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.29%, 04/14/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 200676 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc., (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.02%, 10/21/32<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 121848 |
| &nbsp;&nbsp;&nbsp; M6 ETX Holdings II Midco LLC, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.46%, 04/01/32<br>| &nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp; 60955 |
| &nbsp;&nbsp;&nbsp; Motion Finco Sarl, 2024 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 11/12/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 159473 |
| &nbsp;&nbsp;&nbsp; Ontario Gaming GTA LP, Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.25%), 8.24%, <br> 08/01/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp; 41940 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.46%, <br> 05/03/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp; 90768 |
| &nbsp;&nbsp;&nbsp; Scientific Games Holdings LP, 2024 USD Term Loan <br> B, (3-mo. CME Term SOFR at 0.50% Floor + <br> 3.00%), 0.00%, 04/04/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 92813 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment Inc., 2024 Term Loan <br> B3, (1-mo. CME Term SOFR at 0.50% Floor + <br> 2.00%), 5.96%, 12/04/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $73 | &nbsp;&nbsp; $72423 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 5.96%, 05/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 37943 |
| &nbsp;&nbsp;&nbsp; TKO Worldwide Holdings, LLC, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.04%, 11/21/31<br>| &nbsp;&nbsp;&nbsp; 302 | &nbsp;&nbsp; 302568 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.75%), 0.00%, 07/01/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp; 109877 |
| &nbsp;&nbsp;&nbsp; WMG Acquisition Corp., 2024 Term Loan J, (3-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.95%, <br> 01/24/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp; 140929 |
|  |  | &nbsp;&nbsp; 3332570 |
| **Environmental Control — 1.7%** | **Environmental Control — 1.7%** | **Environmental Control — 1.7%** |
| &nbsp;&nbsp;&nbsp; Clean Harbors Inc., (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.50%), 5.46%, 10/08/32<br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 44131 |
| &nbsp;&nbsp;&nbsp; Filtration Group Corp., (1-mo. CME Term SOFR at <br> 0.50% Floor + 2.75%), 6.71%, 10/21/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp; 186220 |
| &nbsp;&nbsp;&nbsp; GFL ES U.S. LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.67%, <br> 03/03/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp; 238761 |
| &nbsp;&nbsp;&nbsp; JFL-Tiger Acquisition Co. Inc., Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.75%, <br> 10/17/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 60214 |
| Madison IAQ LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, (6-mo. CME Term SOFR at 0.50% Floor <br> + 2.50%), 6.70%, 06/21/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 151 | &nbsp;&nbsp; 150873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (6-mo. CME Term SOFR at <br> 0.50% Floor + 3.25%), 7.45%, 05/06/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp; 166082 |
| &nbsp;&nbsp;&nbsp; Packers Holdings LLC, 2021 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 3.35%), 7.19%, <br> 03/09/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 11497 |
| Reworld Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-mo. CME Term SOFR at 0.50% Floor + 2.25%), <br> 6.27%, 01/15/31<br>| &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 36877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.25%), 6.28%, 11/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 43414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan C, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.25%), 6.28%, 11/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 3360 |
| &nbsp;&nbsp;&nbsp; The Action Environmental Group Inc. (The), 2023 Term <br> Loan B, (3-mo. CME Term SOFR + 3.25%), 7.25%, <br> 10/24/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 49375 |
|  |  | &nbsp;&nbsp; 990804 |
| **Food — 1.7%** | **Food — 1.7%** | **Food — 1.7%** |
| Chobani LLC, 10/22/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 383 | &nbsp;&nbsp; 383720 |
| &nbsp;&nbsp;&nbsp; Froneri International Ltd., 2024 USD Term Loan B4, <br> (6-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 0.00%, 09/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp; 252875 |
| Froneri Lux Finco Sarl, 08/02/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp; 39040 |
| &nbsp;&nbsp;&nbsp; H-Food Holdings LLC, 2025 Exit Term Loan, (3-mo. <br> CME Term SOFR at 2.00% Floor + 6.50%), 10.34%, <br> 03/29/30<br>| &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 4513 |
| &nbsp;&nbsp;&nbsp; Nomad Foods U.S. LLC, 2023 Term Loan B5, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.58%, <br> 11/12/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 29209 |
| &nbsp;&nbsp;&nbsp; US Foods Inc., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.71%, <br> 10/03/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp; 161941 |
| &nbsp;&nbsp;&nbsp; UTZ Quality Foods LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.50%, <br> 01/29/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp; 116628 |
|  |  | &nbsp;&nbsp; 987926 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| &nbsp;&nbsp;&nbsp; Aramark Services Inc., (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.71%, 04/06/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $20 | &nbsp;&nbsp; $20004 |
| **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** | **Forest Products & Paper — 0.2%** |
| &nbsp;&nbsp;&nbsp; Asplundh Tree Expert LLC, 2021 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 1.85%), 5.81%, <br> 09/07/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp; 113517 |
| **Gas — 0.0%** | **Gas — 0.0%** | **Gas — 0.0%** |
| &nbsp;&nbsp;&nbsp; Meade Pipeline Co. LLC, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 6.00%, 09/22/32<br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 25000 |
| **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** | **Hand & Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp; Madison Safety & Flow LLC, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.47%, 09/26/31<br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 55667 |
| **Health Care - Products — 1.7%** | **Health Care - Products — 1.7%** | **Health Care - Products — 1.7%** |
| Bausch & Lomb Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Incremental Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 4.00%), 7.96%, <br> 09/29/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp; 88662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.21%, 01/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 177 | &nbsp;&nbsp; 178403 |
| Medline Borrower, LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 5.96%, 10/23/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 597 | &nbsp;&nbsp; 597193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 5.96%, 10/23/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59929 |
| Solstice Advanced Materials Inc., 10/29/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 79082 |
|  |  | &nbsp;&nbsp; 1003269 |
| **Health Care - Services — 2.0%** | **Health Care - Services — 2.0%** | **Health Care - Services — 2.0%** |
| &nbsp;&nbsp;&nbsp; AHP Health Partners Inc., (1-mo. CME Term SOFR at <br> 0.50% Floor + 2.25%), 6.21%, 09/20/32<br>| &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 17541 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services Inc., 2025 Repriced Term <br> Loan B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 2.00%), 5.96%, 07/26/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 69706 |
| &nbsp;&nbsp;&nbsp; Examworks Bidco Inc., 2021 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.75%), 6.71%, <br> 11/01/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 166 | &nbsp;&nbsp; 166464 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 2024 LUX Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; 24385 |
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., 2024 1st Lien Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 0.00%, 05/19/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 99520 |
| &nbsp;&nbsp;&nbsp; Parexel International Corp., 2025 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.46%, <br> 11/15/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp; 198064 |
| &nbsp;&nbsp;&nbsp; QuidelOrtho Corp., (3-mo. CME Term SOFR at 0.00% <br> Floor + 4.00%), 8.00%, 08/20/32<br>| &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 67511 |
| &nbsp;&nbsp;&nbsp; Reverb Buyer Inc., 2021 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.60%), 7.44%, <br> 11/01/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 8773 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings, LLC, (3-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.34%, 05/30/31<br>| &nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp; 255361 |
| &nbsp;&nbsp;&nbsp; Star Parent Inc., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.00%), 8.00%, 09/27/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp; 78568 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc., (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.46%, 12/19/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 169 | &nbsp;&nbsp; 169428 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings Inc., (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.34%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; 39933 |
|  |  | &nbsp;&nbsp; 1195254 |
| **Holding Companies - Diversified — 0.1%** | **Holding Companies - Diversified — 0.1%** | **Holding Companies - Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp; Acuren Delaware Holdco Inc., (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.75%), 6.71%, 07/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 36926 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| &nbsp;&nbsp;&nbsp; Intrado Corp., 2023 Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 3.50%), 7.50%, 01/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $30 | &nbsp;&nbsp; $29654 |
|  |  | &nbsp;&nbsp; 66580 |
| **Home Furnishings — 0.4%** | **Home Furnishings — 0.4%** | **Home Furnishings — 0.4%** |
| &nbsp;&nbsp;&nbsp; AI Aqua Merger Sub Inc., 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 7.13%, 07/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 197 | &nbsp;&nbsp; 197724 |
| &nbsp;&nbsp;&nbsp; Somnigroup International Inc., Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.21%, <br> 10/24/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 34993 |
|  |  | &nbsp;&nbsp; 232717 |
| **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** | **Household Products & Wares — 0.1%** |
| ACP Tara Holdings Inc., 09/17/32<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 20050 |
| &nbsp;&nbsp;&nbsp; Reynolds Consumer Products LLC, 2025 Term Loan <br> B, (1-mo. CME Term SOFR at 0.00% Floor + <br> 1.75%), 5.71%, 03/04/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 28974 |
|  |  | &nbsp;&nbsp; 49024 |
| **Housewares — 0.5%** | **Housewares — 0.5%** | **Housewares — 0.5%** |
| &nbsp;&nbsp;&nbsp; Hunter Douglas Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.25%, <br> 01/20/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 198 | &nbsp;&nbsp; 198556 |
| Restoration Hardware Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.61%), 6.58%, 10/20/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 18816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Incremental Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.35%), 7.31%, <br> 10/20/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 18927 |
| &nbsp;&nbsp;&nbsp; Springs Windows Fashions, LLC, (1-mo. CME Term <br> SOFR at 1.00% Floor + 4.11%), 8.08%, 10/06/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 41796 |
| &nbsp;&nbsp;&nbsp; SWF Holdings I Corp., (1-mo. CME Term SOFR at <br> 1.00% Floor + 4.50%), 8.46%, 12/19/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 16357 |
|  |  | &nbsp;&nbsp; 294452 |
| **Insurance — 6.6%** | **Insurance — 6.6%** | **Insurance — 6.6%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.46%, 09/19/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp; 469429 |
| &nbsp;&nbsp;&nbsp; AmWINS Group Inc., 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.25%, <br> 01/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 340 | &nbsp;&nbsp; 340782 |
| &nbsp;&nbsp;&nbsp; Amynta Agency Borrower Inc., 2025 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 0.00%, 12/29/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp; 226566 |
| &nbsp;&nbsp;&nbsp; Ardonagh Midco 3 PLC, 2024 USD Term Loan B, <br> (6-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 0.00%, 02/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 209 | &nbsp;&nbsp; 208193 |
| Asurion LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B9, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.36%), 7.33%, 07/31/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp; 34465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B12, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.21%, 09/19/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B13, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.25%), 8.21%, 09/19/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp; 261245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B11, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.35%), 8.33%, 08/19/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 89738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 2nd Lien Term Loan B3, (1-mo. CME Term <br> SOFR + 5.36%), 9.33%, 01/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 63588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Second Lien Term Loan B4, (1-mo. CME Term <br> SOFR + 5.36%), 9.33%, 01/20/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 61876 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.50%), 6.55%, <br> 05/26/31<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 86930 |
| Howden Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-mo. CME Term SOFR at 0.50% Floor + 2.75%), <br> 6.71%, 02/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp; 215521 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 USD Term Loan B, (1-mo. CME Term SOFR <br> at 0.50% Floor + 3.50%), 7.46%, 04/18/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $17 | &nbsp;&nbsp; $16980 |
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 0.00%, <br> 06/20/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 432 | &nbsp;&nbsp; 433150 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management Inc., 2025 <br> Term Loan B, (3-mo. CME Term SOFR at 0.00% <br> Floor + 2.75%), 6.59%, 03/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 99 | &nbsp;&nbsp; 98644 |
| &nbsp;&nbsp;&nbsp; OneDigital Borrower LLC, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.00%), 6.96%, 07/02/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 20938 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, 2024 USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 5.96%, <br> 09/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp; 206948 |
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2023 <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.46%, 07/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 388 | &nbsp;&nbsp; 387572 |
| Truist Insurance Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 6.75%, 05/06/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp; 238451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2nd Lien Term Loan, (3-mo. CME Term SOFR at <br> 0.00% Floor + 4.75%), 8.75%, 05/06/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 29835 |
| USI Inc./New York |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan C, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.25%, 09/29/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp; 193074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan D, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 6.25%, 11/21/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp; 229741 |
|  |  | &nbsp;&nbsp; 3943399 |
| **Internet — 2.6%** | **Internet — 2.6%** | **Internet — 2.6%** |
| &nbsp;&nbsp;&nbsp; Barracuda Networks Inc., 2022 Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 4.50%), 8.34%, <br> 08/15/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp; 122532 |
| &nbsp;&nbsp;&nbsp; CNT Holdings I Corp., 2025 Term Loan, (3-mo. CME <br> Term SOFR at 0.75% Floor + 2.25%), 6.09%, <br> 11/08/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; 128559 |
| Gen Digital Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 5.71%, 09/12/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp; 298052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.71%, 04/16/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp; 91569 |
| Go Daddy Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B7, (1-mo. CME Term SOFR + <br> 1.75%), 5.71%, 05/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp; 120479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B8, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.71%, 11/09/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 84602 |
| MH Sub I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B4, (1-mo. CME Term SOFR at <br> 0.50% Floor + 4.25%), 8.21%, 12/31/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 42196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan, (3-mo. CME Term SOFR at 0.50% <br> Floor + 4.25%), 8.25%, 05/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp; 56751 |
| Proofpoint Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 08/31/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 32115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan, (1-mo. CME Term SOFR at 0.50% <br> Floor + 3.00%), 6.96%, 08/31/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 187 | &nbsp;&nbsp; 187993 |
| &nbsp;&nbsp;&nbsp; Speedster Bidco GmbH, 2024 USD Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 0.00%, 12/10/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp; 177929 |
| &nbsp;&nbsp;&nbsp; StubHub Holdco Sub LLC, 2024 Extended Term Loan <br> B, (1-mo. CME Term SOFR + 4.75%), 8.71%, <br> 03/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 207 | &nbsp;&nbsp; 206460 |
|  |  | &nbsp;&nbsp; 1549237 |
| **Leisure Time — 1.0%** | **Leisure Time — 1.0%** | **Leisure Time — 1.0%** |
| &nbsp;&nbsp;&nbsp; Alterra Mountain Co., 2025 Term Loan B8, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 6.46%, <br> 05/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 94466 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC, (3-mo. CME Term SOFR <br> at 0.00% Floor + 3.25%), 7.31%, 09/12/32<br>| &nbsp;&nbsp;&nbsp; $31 | &nbsp;&nbsp; $31142 |
| &nbsp;&nbsp;&nbsp; Bombardier Recreational Products, Inc., (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.75%), 6.71%, <br> 01/22/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp; 51792 |
| &nbsp;&nbsp;&nbsp; City Football Group Ltd., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 3.61%), 7.58%, <br> 07/22/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; 118528 |
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., (1-mo. CME Term SOFR at <br> 0.50% Floor + 1.75%), 5.71%, 09/22/32<br>| &nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 80727 |
| &nbsp;&nbsp;&nbsp; Hayward Industries Inc., 2021 Term Loan, (1-mo. CME <br> Term SOFR + 2.61%), 6.58%, 05/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; 24038 |
| Sabre GLBL Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.58%, 12/17/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 6596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.58%, 12/17/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 20148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 1st Lien Term Loan B, (1-mo. CME Term <br> SOFR + 5.10%), 9.06%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 1983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B1, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.06%, 11/15/29<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp; 75992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B2, (1-mo. CME Term SOFR at <br> 0.50% Floor + 6.10%), 10.06%, 11/15/29<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 27282 |
| &nbsp;&nbsp;&nbsp; Whatabrands LLC, 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.46%, <br> 08/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 73573 |
|  |  | &nbsp;&nbsp; 606267 |
| **Lodging — 1.4%** | **Lodging — 1.4%** | **Lodging — 1.4%** |
| Aimbridge Acquisition Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 1st Lien Second Out Term Loan, (1-mo. CME <br> Term SOFR at 1.00% Floor + 1.61% and 6.00% <br> PIK), 11.65%, 03/11/30<sup>(b)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp; 18213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 First Out Term Loan, (1-mo. CME Term SOFR <br> at 1.00% Floor + 5.61%), 9.65%, 03/11/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 20011 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC, 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 3.25%), 7.21%, <br> 01/27/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 349514 |
| &nbsp;&nbsp;&nbsp; Hilton Domestic Operating Co. Inc., 2023 Term Loan <br> B4, (1-mo. CME Term SOFR + 1.75%), 5.74%, <br> 11/08/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 129264 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.00%), 5.96%, <br> 03/14/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp; 217722 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts Inc., 2024 Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.71%, 05/24/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp; 110571 |
|  |  | &nbsp;&nbsp; 845295 |
| **Machinery — 2.9%** | **Machinery — 2.9%** | **Machinery — 2.9%** |
| &nbsp;&nbsp;&nbsp; Arcline FM Holdings LLC, (3-mo. CME Term SOFR at <br> 0.75% Floor + 2.75%), 6.68%, 06/23/30<br>| &nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp; 101024 |
| &nbsp;&nbsp;&nbsp; Chart Industries Inc., 2024 Term Loan B, (3-mo. CME <br> Term SOFR + 2.50%), 6.48%, 03/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 36960 |
| &nbsp;&nbsp;&nbsp; Columbus McKinnon Corp., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.50% Floor + 2.50%), 6.50%, <br> 05/14/28<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 46159 |
| &nbsp;&nbsp;&nbsp; Generac Power Systems Inc., 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 1.75%), <br> 5.88%, 07/03/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 49539 |
| &nbsp;&nbsp;&nbsp; Roper Industrial Products Investment Co. LLC, 2024 <br> USD 1st Lien Term Loan B, (3-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.75%, 11/22/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp; 74027 |
| &nbsp;&nbsp;&nbsp; SPX Flow, Inc., (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.75%), 6.71%, 04/05/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp; 260925 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| &nbsp;&nbsp;&nbsp; Titan Acquisition Ltd./Canada, 2024 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.75%), <br> 0.00%, 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $323 | &nbsp;&nbsp; $323634 |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, 2025 USD Term Loan B, <br> (6-mo. CME Term SOFR at 0.50% Floor + 3.00%), <br> 0.00%, 04/30/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 363 | &nbsp;&nbsp; 364984 |
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., (1-mo. CME Term SOFR at 0.00% <br> Floor + 1.75%), 5.88%, 08/12/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp; 278901 |
| &nbsp;&nbsp;&nbsp; Wec U.S. Holdings Ltd., 2024 Term Loan, (1-mo. CME <br> Term SOFR at 0.00% Floor + 2.25%), 6.38%, <br> 01/27/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp; 172647 |
|  |  | &nbsp;&nbsp; 1708800 |
| **Machinery - Diversified — 0.1%** | **Machinery - Diversified — 0.1%** | **Machinery - Diversified — 0.1%** |
| INNIO Group Holding GmbH, 11/02/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp; 74000 |
| **Manufactured Housing Abs — 0.2%** | **Manufactured Housing Abs — 0.2%** | **Manufactured Housing Abs — 0.2%** |
| &nbsp;&nbsp;&nbsp; Weber-Stephen Products LLC, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.75%), 7.74%, 10/01/32<br>| &nbsp;&nbsp;&nbsp; 132 | &nbsp;&nbsp; 131560 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| CP Iris HoldCo I, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 10/27/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 14974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1-mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 8.00%, 10/27/32<br>| &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 121289 |
|  |  | &nbsp;&nbsp; 136263 |
| **Media — 1.4%** | **Media — 1.4%** | **Media — 1.4%** |
| Charter Communications Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 Term Loan B4, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 0.00%, 12/07/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 41 | &nbsp;&nbsp; 40962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan B5, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.25%), 0.00%, 12/15/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 81232 |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2019 Term Loan B5, (Prime + 1.50%), 8.50%, <br> 04/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 281 | &nbsp;&nbsp; 264432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Term Loan B6, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.50%), 8.53%, 01/18/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 59182 |
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC, Term Loan, (3-mo. CME Term <br> SOFR at 0.75% Floor + 5.26%), 9.10%, 08/02/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 2158 |
| &nbsp;&nbsp;&nbsp; Gray Television Inc., 2024 Term Loan B, (1-mo. CME <br> Term SOFR + 5.25%), 9.38%, 06/04/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 0 <br><sup>(h)</sup><br>| &nbsp;&nbsp; 400 |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.75%), <br> 8.71%, 06/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 79129 |
| NEP Group, Inc., 10/17/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp; 59516 |
| &nbsp;&nbsp;&nbsp; Radiate Holdco, LLC, (1-mo. CME Term SOFR at <br> 0.00% Floor + 5.11% and 1.50% PIK), 9.08%, <br> 09/25/29<sup>(b)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp; 148509 |
| &nbsp;&nbsp;&nbsp; Sunrise Financing Partnership, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.50%), 6.43%, 02/15/32<br>| &nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; 39900 |
| &nbsp;&nbsp;&nbsp; Telenet Financing USD LLC, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.11%), 6.15%, 04/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29845 |
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, 2020 USD Term Loan Q, <br> (1-mo. CME Term SOFR + 3.36%), 7.40%, <br> 01/31/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; 23945 |
| &nbsp;&nbsp;&nbsp; Ziggo Financing Partnership, USD Term Loan I, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.93%), 6.71%, <br> 04/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 9099 |
|  |  | &nbsp;&nbsp; 838309 |
| **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** | **Metal Fabricate & Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp; AZZ Inc., Term Loan B, (1-mo. CME Term SOFR + <br> 1.75%), 0.00%, 05/13/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp; 21595 |
| **Mining — 0.5%** | **Mining — 0.5%** | **Mining — 0.5%** |
| &nbsp;&nbsp;&nbsp; Covia Holdings Corp., (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.75%), 6.71%, 02/26/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp; 43918 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp; Novelis Corp., 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 5.75%, 03/11/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $238 | &nbsp;&nbsp; $238311 |
|  |  | &nbsp;&nbsp; 282229 |
| **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP, Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.00%), 6.03%, 02/11/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 84628 |
| &nbsp;&nbsp;&nbsp; Stakeholder Midstream LLC, (6-mo. CME Term SOFR <br> at 0.00% Floor + 4.00%), 8.04%, 01/01/31<br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 60525 |
|  |  | &nbsp;&nbsp; 145153 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Deep Blue Operating I LLC, (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.75%), 6.88%, 10/01/32<br>| &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; 27051 |
| **Packaging & Containers — 1.3%** | **Packaging & Containers — 1.3%** | **Packaging & Containers — 1.3%** |
| &nbsp;&nbsp;&nbsp; Charter Next Generation Inc., 2024 Term Loan B1, <br> (1-mo. CME Term SOFR at 0.75% Floor + 2.75%), <br> 6.80%, 11/29/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp; 253313 |
| Clydesdale Acquisition Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 3.18%), <br> 7.14%, 04/13/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 19984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.21%, 04/01/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 158 | &nbsp;&nbsp; 158009 |
| &nbsp;&nbsp;&nbsp; LABL Inc., 2021 USD 1st Lien Term Loan, (3-mo. CME <br> Term SOFR at 0.50% Floor + 5.10%), 8.94%, <br> 10/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 157 | &nbsp;&nbsp; 118204 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions Holding Co., 2024 Term <br> Loan B, (1-mo. CME Term SOFR + 3.00%), 7.13%, <br> 04/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 88612 |
| &nbsp;&nbsp;&nbsp; Pregis TopCo LLC, 2025 Refinancing Term Loan, <br> (1-mo. CME Term SOFR at 0.00% Floor + 4.00%), <br> 7.96%, 02/01/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp; 56429 |
| &nbsp;&nbsp;&nbsp; Proampac PG Borrower LLC, (3-mo. CME Term SOFR <br> + 4.00%), 0.00%, 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp; 17922 |
| &nbsp;&nbsp;&nbsp; Ring Container Technologies Group, LLC, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.50%), 6.46%, <br> 09/15/32<br>| &nbsp;&nbsp;&nbsp; 48 | &nbsp;&nbsp; 48000 |
| &nbsp;&nbsp;&nbsp; Trident TPI Holdings Inc., 2024 Term Loan B7, (3-mo. <br> CME Term SOFR at 0.50% Floor + 3.75%), 7.75%, <br> 09/15/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp; 41986 |
|  |  | &nbsp;&nbsp; 802459 |
| **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** | **Pharmaceuticals — 1.6%** |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals LLC, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.50%), 7.46%, 08/01/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp; 202423 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health Inc., Term Loan B, (1-mo. CME <br> Term SOFR + 1.85%), 5.71%, 08/01/27<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 60001 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings Inc., 2024 1st Lien Term Loan, <br> 04/23/31<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 34647 |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B, (3-mo. CME <br> Term SOFR at 0.75% Floor + 4.10%), 8.10%, <br> 10/01/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp; 70874 |
| &nbsp;&nbsp;&nbsp; ICON Luxembourg SARL, 2024 US Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 2.00%), <br> 6.00%, 07/03/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 6076 |
| &nbsp;&nbsp;&nbsp; Jazz Financing Lux SARL, 2024 1st Lien Term Loan <br> B2, (1-mo. CME Term SOFR + 2.25%), 6.21%, <br> 05/05/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 161 | &nbsp;&nbsp; 161472 |
| &nbsp;&nbsp;&nbsp; Option Care Health Inc., (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.71%, 09/22/32<br>| &nbsp;&nbsp;&nbsp; 143 | &nbsp;&nbsp; 143587 |
| &nbsp;&nbsp;&nbsp; Organon & Co., 2024 USD Term Loan, (1-mo. CME <br> Term SOFR at 0.50% Floor + 2.25%), 6.24%, <br> 05/19/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 44751 |
| &nbsp;&nbsp;&nbsp; Perrigo Investments LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 5.96%, <br> 04/20/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp; 105702 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Vizient Inc., 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 5.71%, 08/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $96 | &nbsp;&nbsp; $95874 |
|  |  | &nbsp;&nbsp; 925407 |
| **Pipelines — 1.0%** | **Pipelines — 1.0%** | **Pipelines — 1.0%** |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP, (1-mo. CME Term SOFR at <br> 0.00% Floor + 1.75%), 5.72%, 11/22/32<br>| &nbsp;&nbsp;&nbsp; 47 | &nbsp;&nbsp; 46598 |
| &nbsp;&nbsp;&nbsp; Colossus Acquireco LLC, (3-mo. SOFR + 1.75%), <br> 5.87%, 07/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 149250 |
| &nbsp;&nbsp;&nbsp; Freeport LNG Investments LLLP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.50% Floor + 3.25%), <br> 7.12%, 12/21/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp; 224325 |
| &nbsp;&nbsp;&nbsp; GIP Pilot Acquisition Partners LP, 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 5.94%, 10/04/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 8874 |
| &nbsp;&nbsp;&nbsp; Oryx Midstream Services Permian Basin LLC, 2025 <br> Term Loan B, (1-mo. CME Term SOFR at 0.50% <br> Floor + 2.25%), 0.00%, 10/05/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp; 165074 |
| &nbsp;&nbsp;&nbsp; Whitewater Matterhorn Holdings LLC, 2025 Term Loan <br> B, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.25%), 6.31%, 06/16/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 16003 |
|  |  | &nbsp;&nbsp; 610124 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| &nbsp;&nbsp;&nbsp; CoreLogic Inc., Term Loan, (1-mo. CME Term SOFR at <br> 0.50% Floor + 3.61%), 7.58%, 06/02/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; 201396 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.71%, <br> 01/31/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 25467 |
|  |  | &nbsp;&nbsp; 226863 |
| **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** | **Real Estate Investment Trusts — 0.2%** |
| Iron Mountain, Inc., 01/31/31<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 29994 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP, 2024 1st Lien Term Loan B, <br> (1-mo. CME Term SOFR at 0.00% Floor + 2.00%), <br> 5.96%, 05/20/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 70613 |
|  |  | &nbsp;&nbsp; 100607 |
| **Retail — 1.8%** | **Retail — 1.8%** | **Retail — 1.8%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC Unlimited Liability Co., 2024 Term Loan <br> B6, (1-mo. CME Term SOFR at 0.00% Floor + <br> 1.75%), 5.71%, 09/20/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 121357 |
| &nbsp;&nbsp;&nbsp; Boots Group Bidco Ltd. (The), USD Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.70%, <br> 08/30/32<br>| &nbsp;&nbsp;&nbsp; 112 | &nbsp;&nbsp; 112420 |
| &nbsp;&nbsp;&nbsp; EG America LLC, 2025 USD Repriced Term Loan, <br> (3-mo. CME Term SOFR at 0.00% Floor + 3.50%), <br> 7.70%, 02/07/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp; 30850 |
| &nbsp;&nbsp;&nbsp; Gulfside Supply Inc., Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 7.00%, 06/17/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 58421 |
| &nbsp;&nbsp;&nbsp; IRB Holding Corp., 2024 1st Lien Term Loan B, (1-mo. <br> CME Term SOFR at 0.75% Floor + 2.50%), 6.46%, <br> 12/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 138180 |
| &nbsp;&nbsp;&nbsp; Les Schwab Tire Centers, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.50%), 0.00%, <br> 04/23/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 99490 |
| &nbsp;&nbsp;&nbsp; Murphy Oil USA Inc., Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 1.75%), 5.88%, 04/07/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp; 33234 |
| Peer Holding III B.V., 09/29/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 21000 |
| &nbsp;&nbsp;&nbsp; QXO Building Products Inc., Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 6.96%, <br> 04/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 32133 |
| Turquoise Topco Ltd., 08/13/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp; 67965 |
| &nbsp;&nbsp;&nbsp; White Cap Buyer LLC, 2024 Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.21%, <br> 10/19/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp; 374748 |
|  |  | &nbsp;&nbsp; 1089798 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Semiconductors — 0.6%** | **Semiconductors — 0.6%** | **Semiconductors — 0.6%** |
| &nbsp;&nbsp;&nbsp; Entegris Inc., 2023 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 1.75%), 0.00%, 07/06/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $50 | &nbsp;&nbsp; $50462 |
| &nbsp;&nbsp;&nbsp; Gryphon Acquire Newco LLC, (6-mo. CME Term <br> SOFR at 0.00% Floor + 3.00%), 6.85%, 09/13/32<br>| &nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp; 72315 |
| &nbsp;&nbsp;&nbsp; MKS Inc., 2025 USD Repriced Term Loan, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.00%), 5.98%, <br> 08/17/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp; 216601 |
|  |  | &nbsp;&nbsp; 339378 |
| **Software — 12.5%** | **Software — 12.5%** | **Software — 12.5%** |
| &nbsp;&nbsp;&nbsp; Applied Systems Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 02/24/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp; 328460 |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group Inc., 2022 Term Loan B, (1-mo. <br> CME Term SOFR at 0.50% Floor + 2.75%), 6.71%, <br> 02/15/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp; 241489 |
| &nbsp;&nbsp;&nbsp; Avalara, Inc., (3-mo. CME Term SOFR at 0.00% Floor <br> + 2.75%), 6.74%, 03/26/32<br>| &nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp; 91121 |
| &nbsp;&nbsp;&nbsp; BCPE Pequod Buyer Inc., USD Term Loan B, (1-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 6.96%, <br> 11/25/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp; 132999 |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co. Inc., 2025 USD Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.00%), 7.20%, <br> 07/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp; 303232 |
| &nbsp;&nbsp;&nbsp; Capstone Borrower Inc., 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.75%), 6.75%, <br> 06/17/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp; 106623 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Inc., Term Loan, (1-mo. CME <br> Term SOFR + 2.00%), 5.96%, 01/23/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp; 124119 |
| &nbsp;&nbsp;&nbsp; Central Parent LLC, 2024 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.25%, <br> 07/06/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp; 218303 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics LLC, 2025 Term Loan B, (6-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.46%, <br> 04/21/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 87055 |
| Cloud Software Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 0.00%, 03/21/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp; 224636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR at 0.00% Floor + 3.25%), <br> 0.00%, 08/13/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 299453 |
| &nbsp;&nbsp;&nbsp; Cloudera Inc., 2021 Term Loan, (1-mo. CME Term <br> SOFR at 0.50% Floor + 3.85%), 7.81%, 10/08/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp; 50074 |
| &nbsp;&nbsp;&nbsp; Cotiviti Corp., 2024 Term Loan, (1-mo. CME Term <br> SOFR + 2.75%), 6.88%, 05/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 311 | &nbsp;&nbsp; 298754 |
| Dayforce Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 10/07/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp; 254044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor + 2.00%), 5.84%, 03/01/31<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 200346 |
| &nbsp;&nbsp;&nbsp; DS Admiral Bidco LLC, 2024 Term Loan B, (1-mo. <br> CME Term SOFR + 4.25%), 0.00%, 06/26/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 57664 |
| Ellucian Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan B, (1-mo. CME Term <br> SOFR at 0.50% Floor + 2.75%), 6.71%, <br> 10/09/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp; 313312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR <br> at 0.50% Floor + 4.75%), 8.71%, 11/22/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 49475 |
| &nbsp;&nbsp;&nbsp; Epicor Software Corp., 2024 Term Loan F, (1-mo. CME <br> Term SOFR at 0.75% Floor + 2.50%), 6.46%, <br> 05/30/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp; 218257 |
| &nbsp;&nbsp;&nbsp; Finastra USA, Inc., 2025 USD Term Loan, (3-mo. CME <br> Term SOFR at 0.00% Floor + 4.00%), 8.04%, <br> 09/15/32<br>| &nbsp;&nbsp;&nbsp; 333 | &nbsp;&nbsp; 328777 |
| &nbsp;&nbsp;&nbsp; Genesys Cloud Services Holdings II LLC, 2025 USD <br> Term Loan B, (1-mo. CME Term SOFR at 0.00% <br> Floor + 2.50%), 6.46%, 01/30/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp; 475433 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Informatica LLC, 2024 Term Loan B, (1-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.21%, 10/27/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $135 | &nbsp;&nbsp; $135321 |
| &nbsp;&nbsp;&nbsp; Kaseya Inc., 2025 1st Lien Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 3.25%), 7.21%, <br> 03/20/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 298 | &nbsp;&nbsp; 297388 |
| Mitchell International Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 1st Lien Term Loan, (1-mo. CME Term SOFR <br> at 0.50% Floor + 3.25%), 7.21%, 06/17/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 193 | &nbsp;&nbsp; 192694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 2nd Lien Term Loan, (1-mo. CME Term SOFR <br> + 5.25%), 9.21%, 06/17/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp; 37947 |
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Term Loan, (3-mo. CME Term <br> SOFR at 0.00% Floor + 4.25%), 8.09%, 07/01/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 53083 |
| Ping Identity Corp., 10/31/32<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 50000 |
| &nbsp;&nbsp;&nbsp; Planview Parent Inc., 2024 1st Lien Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 3.50%), 7.50%, <br> 12/17/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 27968 |
| &nbsp;&nbsp;&nbsp; PointClickCare Technologies Inc., 2025 Term Loan B, <br> (3-mo. CME Term SOFR at 0.00% Floor + 2.75%), <br> 6.75%, 11/03/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | &nbsp;&nbsp; 73480 |
| &nbsp;&nbsp;&nbsp; Polaris Newco LLC, USD Term Loan B, (3-mo. CME <br> Term SOFR at 0.50% Floor + 4.26%), 8.10%, <br> 06/02/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp; 137751 |
| &nbsp;&nbsp;&nbsp; Project Alpha Intermediate Holding Inc., 2024 1st Lien <br> Term Loan B, (3-mo. CME Term SOFR at 0.50% <br> Floor + 3.25%), 7.25%, 10/26/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 58590 |
| &nbsp;&nbsp;&nbsp; Project Boost Purchaser LLC, 2025 Refinancing Term <br> Loan, (3-mo. CME Term SOFR at 0.00% Floor + <br> 2.75%), 6.61%, 07/16/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp; 195898 |
| &nbsp;&nbsp;&nbsp; Quartz Acquireco LLC, 2025 Term Loan B, (3-mo. <br> CME Term SOFR at 0.00% Floor + 2.25%), 6.25%, <br> 06/28/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 88053 |
| &nbsp;&nbsp;&nbsp; RealPage Inc., 1st Lien Term Loan, (3-mo. CME Term <br> SOFR + 3.26%), 7.26%, 04/24/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp; 153641 |
| &nbsp;&nbsp;&nbsp; Skopima Consilio Parent LLC, 2024 Repriced Term <br> Loan, (1-mo. CME Term SOFR at 0.50% Floor + <br> 3.75%), 7.71%, 05/12/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | &nbsp;&nbsp; 68131 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Inc., 2024 Term Loan B8, (1-mo. <br> CME Term SOFR at 0.00% Floor + 2.00%), 0.00%, <br> 05/09/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 343 | &nbsp;&nbsp; 344092 |
| &nbsp;&nbsp;&nbsp; UKG Inc., 2024 Term Loan B, (3-mo. CME Term SOFR <br> at 0.00% Floor + 2.50%), 6.34%, 02/10/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 387 | &nbsp;&nbsp; 386276 |
| &nbsp;&nbsp;&nbsp; VS Buyer LLC, 2025 Term Loan B, (3-mo. CME Term <br> SOFR at 0.00% Floor + 2.25%), 6.09%, 04/12/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 287 | &nbsp;&nbsp; 283644 |
| &nbsp;&nbsp;&nbsp; Waystar Technologies, Inc., (1-mo. CME Term SOFR <br> at 0.00% Floor + 2.00%), 5.96%, 10/22/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp; 61370 |
| &nbsp;&nbsp;&nbsp; X AI Corp. TERM LOAN, Term Loan, (6-mo. CME Term <br> SOFR at 0.00% Floor + 7.25%), 11.12%, <br> 06/28/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 91253 |
| Zelis Payments Buyer Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, (1-mo. CME Term SOFR + 2.75%), <br> 6.71%, 09/28/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp; 106821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5th Amendment Term Loan, (1-mo. CME Term <br> SOFR at 0.00% Floor + 3.25%), 7.21%, <br> 11/26/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp; 214236 |
|  |  | &nbsp;&nbsp; 7461263 |
| **Telecommunications — 2.3%** | **Telecommunications — 2.3%** | **Telecommunications — 2.3%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, USD 2017 1st Lien Term Loan, <br> (Prime + 1.75%), 8.75%, 01/31/26<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp; 37283 |
| &nbsp;&nbsp;&nbsp; Altice France SA, 2025 USD Term Loan B14, (3-mo. <br> CME Term SOFR at 0.00% Floor + 6.88%), 10.86%, <br> 05/31/31<br>| &nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp; 105838 |
| &nbsp;&nbsp;&nbsp; Ciena Corp., 2025 Repriced Term Loan B, (1-mo. CME <br> Term SOFR at 0.00% Floor + 1.75%), 5.78%, <br> 10/24/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 98 | &nbsp;&nbsp; 98521 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; Digicel International Finance Ltd., (3-mo. CME Term <br> SOFR at 0.00% Floor + 5.25%), 9.49%, 08/06/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $53 | &nbsp;&nbsp; $52019 |
| &nbsp;&nbsp;&nbsp; GOGO Intermediate Holdings LLC, Term Loan B, <br> (1-mo. CME Term SOFR + 3.86%), 7.83%, <br> 04/30/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 16483 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 7.21%, 03/29/32<br>| &nbsp;&nbsp;&nbsp; 396 | &nbsp;&nbsp; 395307 |
| Lumen Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B1, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.43%, <br> 04/16/29<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp; 121715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Extended Term Loan B2, (1-mo. CME Term <br> SOFR at 2.00% Floor + 2.46%), 6.43%, <br> 04/15/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 93326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 Term Loan A, (1-mo. CME Term SOFR + <br> 6.00%), 9.96%, 06/01/28<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 3113 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC, (1-mo. CME Term SOFR at <br> 0.00% Floor + 4.00%), 7.96%, 10/06/32<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp; 116525 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., (3-mo. CME Term SOFR at <br> 0.00% Floor + 3.61%), 7.58%, 03/11/30<br>| &nbsp;&nbsp;&nbsp; 319 | &nbsp;&nbsp; 304270 |
|  |  | &nbsp;&nbsp; 1344400 |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| &nbsp;&nbsp;&nbsp; Genesee & Wyoming Inc., 2024 Term Loan, (3-mo. <br> CME Term SOFR at 0.00% Floor + 1.75%), 5.75%, <br> 04/10/31<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp; 329281 |
| &nbsp;&nbsp;&nbsp; OLA Netherlands BV, Term Loan, (1-mo. CME Term <br> SOFR at 0.75% Floor + 6.35%), 10.31%, 12/15/26<br>| &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 37717 |
| &nbsp;&nbsp;&nbsp; Rand Parent LLC, 2025 Term Loan B, (3-mo. CME <br> Term SOFR at 0.00% Floor + 3.00%), 7.00%, <br> 03/18/30<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; 116898 |
| &nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC, (3-mo. CME Term SOFR <br> at 0.00% Floor + 2.25%), 6.16%, 04/09/32<br>| &nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp; 48928 |
|  |  | &nbsp;&nbsp; 532824 |
| **Total Floating Rate Loan Interests — 85.4%** <br>**(Cost: $51,378,385)** | **Total Floating Rate Loan Interests — 85.4%** <br>**(Cost: $51,378,385)** | &nbsp;&nbsp; 51063465 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Luxco Co. Ltd., NVS | &nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp; 10315 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, NVS, (Acquired <br> 09/06/23, Cost $3,910)<sup>(d)(i)</sup><br>| &nbsp;&nbsp;&nbsp; 312 | &nbsp;&nbsp; 32760 |
| **Food Products — 0.0%** | **Food Products — 0.0%** | **Food Products — 0.0%** |
| Hearthside Equity, NVS | &nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp; 4468 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| Aimbridge Acquisition Co. Inc., NVS<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 459 | &nbsp;&nbsp; 29605 |
| **Total Common Stocks — 0.1%** <br>**(Cost $52,749)** | **Total Common Stocks — 0.1%** <br>**(Cost $52,749)** | &nbsp;&nbsp; 77148 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange Traded Funds — 2.6%** | **Exchange Traded Funds — 2.6%** | **Exchange Traded Funds — 2.6%** |
| iShares 0-5 Year High Yield Corporate Bond ETF<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 20250 | &nbsp;&nbsp; 872370 |
| &nbsp;&nbsp;&nbsp; iShares Broad USD High Yield Corporate Bond <br> ETF<sup>(j)(k)</sup><br>| &nbsp;&nbsp;&nbsp; 18000 | &nbsp;&nbsp; 676440 |
|  |  | &nbsp;&nbsp; 1548810 |
| **Total Investment Companies — 2.6%** <br>**(Cost $1,501,820)** | **Total Investment Companies — 2.6%** <br>**(Cost $1,501,820)** | &nbsp;&nbsp; 1548810 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp; Veritas Kapital Assurance PLC, Series G-1, Preference <br> Shares, NVS<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp; $1786 |
| &nbsp;&nbsp;&nbsp; Veritas Kapital Assurance PLC, Series G, Preference <br> Shares, NVS<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; 2609 |
|  |  | &nbsp;&nbsp; 4395 |
| **Total Preferred Stocks — 0.0%** <br>**(Cost $2,925)** | **Total Preferred Stocks — 0.0%** <br>**(Cost $2,925)** | &nbsp;&nbsp; 4395 |
| **Total Long-Term Investments — 91.2%** <br>**(Cost: $54,762,073)** | **Total Long-Term Investments — 91.2%** <br>**(Cost: $54,762,073)** | &nbsp;&nbsp; 54546958 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 12.1%** | **Money Market Funds — 12.1%** | **Money Market Funds — 12.1%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.27%<sup>(j)(l)(m)</sup><br>| &nbsp;&nbsp;&nbsp; 685862 | &nbsp;&nbsp; 686205 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.05%<sup>(j)(l)</sup><br>| &nbsp;&nbsp;&nbsp; 6580000 | &nbsp;&nbsp; 6580000 |
| **Total Short-Term Securities — 12.1%** <br>**(Cost: $7,266,068)** | **Total Short-Term Securities — 12.1%** <br>**(Cost: $7,266,068)** | &nbsp;&nbsp; 7266205 |
| **Total Investments — 103.3%** <br>**(Cost: $62,028,141)** | **Total Investments — 103.3%** <br>**(Cost: $62,028,141)** | &nbsp;&nbsp; 61813163 |
| **Liabilities in Excess of Other Assets — (3.3)%** | **Liabilities in Excess of Other Assets — (3.3)%** | &nbsp;&nbsp; (1991669)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $59821494 |

---

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

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

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

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

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

<sup>(f)</sup> Issuer filed for bankruptcy and/or is in default.

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

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

<sup>(i)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $32,760, representing less than 0.05% of its net assets as of period end, and an original cost of $3,910. 

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

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 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>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $1351543 | $— | &nbsp;&nbsp; $(665506 )<sup>(a)</sup><br>| $112 | $56 | $686205 | 685862 | $884 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp; 5960000 | 620000 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 6580000 | 6580000 | &nbsp;&nbsp; 56665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 871560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp; 872370 | 20250 | &nbsp;&nbsp; 14867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; iShares Broad USD High Yield Corporate Bond <br> ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp; 673020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3420 | &nbsp;&nbsp;&nbsp;&nbsp; 676440 | 18000 | &nbsp;&nbsp; 11533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| iShares iBoxx $ High Yield Corporate Bond ETF<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 576726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (578427)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37863 | (36162)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 8388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $37975 | $(31876) | $8815015 |  | $92337 | $— |

---

&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. 

<sup>(c)</sup> As of period end, the entity is no longer held.

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Credit* <br>*Rating*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | &nbsp;&nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.43.V1 | 5.00<br> %<br>| Quarterly | 12/20/29 | B+ | USD | 600 | $47189 | $42518 | $4671 |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |  |  |
| *Rate* | *Frequency* | *Reference* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premiums* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| 1-day SOFR, 4.22% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD Liquid <br> Leveraged Loan Index<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 12/20/25 | USD | 500 | $11587 | $(5488)<br>| $17075 |
| 1-day SOFR, 4.22% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD Liquid <br> Leveraged Loan Index<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 03/20/26 | USD | 500 | 11298 | (5488)<br>| 16786 |
| 1-day SOFR, 4.22% | Quarterly | &nbsp;&nbsp;&nbsp; Markit iBoxx USD Liquid <br> Leveraged Loan Index<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 06/20/26 | USD | 2000 | (2902)<br>| (21622)<br>| 18720 |
|  |  |  |  |  |  |  |  |  | $19983 | $(32598)<br>| $52581 |

---

**Fair Value Hierarchy as of Period End** 

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1580150 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1580150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; 272990 | &nbsp;&nbsp; — | &nbsp;&nbsp; 272990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; 49491200 | &nbsp;&nbsp; 1512264 | &nbsp;&nbsp; 51003464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 14783 | &nbsp;&nbsp; 62365 | &nbsp;&nbsp; 77148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 1548810 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1548810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4395 | &nbsp;&nbsp; 4395 |
| &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; 7266205 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7266205 |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp; 87 | &nbsp;&nbsp; — | &nbsp;&nbsp; 87 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Floating Rate Loan Active ETF**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities (continued) |  |  |  |  |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(96)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(96)<br>|
|  | &nbsp;&nbsp; $8815015 | &nbsp;&nbsp; $51359114 | &nbsp;&nbsp; $1639025 | &nbsp;&nbsp; $61813154 |
| Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4671 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 52581 | &nbsp;&nbsp; — | &nbsp;&nbsp; 52581 |
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57252 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57252 |

---

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

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

<sup>(b)</sup> Derivative financial instruments are swaps. Swaps are valued at the unrealized appreciation (depreciation) on the instrument. 

A reconciliation of Level 3 financial instruments is presented when the Fund had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Common* <br>*Stocks*<br>| *Floatings* <br>*Rate* <br>*Loans* <br>*Interests*<br>| *Preferred* <br>*Stocks*<br>| *Total* |
| Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Opening balance, as of July 31, 2025 | &nbsp;&nbsp; $102264 | &nbsp;&nbsp; $781451 | &nbsp;&nbsp; $4208 | &nbsp;&nbsp; $887923 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — | &nbsp;&nbsp; 368044 | &nbsp;&nbsp; — | &nbsp;&nbsp; 368044 |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — | &nbsp;&nbsp; (296166)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (296166)<br>|
| &nbsp;&nbsp;&nbsp; Accrued discounts/premiums | &nbsp;&nbsp; — | &nbsp;&nbsp; 428 | &nbsp;&nbsp; — | &nbsp;&nbsp; 428 |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | &nbsp;&nbsp; 2170 | &nbsp;&nbsp; 229 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2399 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation)<sup>(a)</sup> | &nbsp;&nbsp; 5232 | &nbsp;&nbsp; (7633)<br>| &nbsp;&nbsp; 187 | &nbsp;&nbsp; (2214)<br>|
| &nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — | &nbsp;&nbsp; 765135 | &nbsp;&nbsp; — | &nbsp;&nbsp; 765135 |
| &nbsp;&nbsp;&nbsp; Sales | &nbsp;&nbsp; (47300)<br>| &nbsp;&nbsp; (39225)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (86525)<br>|
| &nbsp;&nbsp;&nbsp; Closing balance, as of October 31, 2025 | &nbsp;&nbsp; $62366 | &nbsp;&nbsp; $1572263 | &nbsp;&nbsp; $4395 | &nbsp;&nbsp; $1639024 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investment still held at October 31, 2025 | &nbsp;&nbsp; $5231 | &nbsp;&nbsp; $(7390)<br>| &nbsp;&nbsp; $187 | &nbsp;&nbsp; $(1972)<br>|
| &nbsp;&nbsp;&nbsp; <sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at <br> October 31, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. | &nbsp;&nbsp;&nbsp; <sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at <br> October 31, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. | &nbsp;&nbsp;&nbsp; <sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at <br> October 31, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. | &nbsp;&nbsp;&nbsp; <sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at <br> October 31, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. |  |

---

The Fund's financial instruments that are categorized as Level 3 were valued utilizing third-party pricing information without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 financial investments. <br>

---

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

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| CME | Chicago Mercantile Exchange |
| CPI | Consumer Price Index |
| GO | General Obligation |

---

---

| | |
|:---|:---|
| NVS | Non-Voting Shares |
| PIK | Payment-in-kind |
| PILOT | Payment in Lieu of Taxes |
| SOFR | Secured Overnight Financing Rate |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** iShares Floating Rate Loan Active ETF

- **b. EDGAR series identifier (if any):** S000077718

- **c. LEI of Series:** 549300ROS5C1CAWJAS67

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $63838615.16

**Total Liabilities:** $4015867.54

**Net Assets:** $59822747.62

**Delayed Delivery Securities:** $1756152.85

**Cash Not Reported:** $183309.97

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 544.63000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 565.45000000 | **30-Year:** 0.00000000

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

- **3-Month:** 10771.05000000 | **1-Year:** 414.63000000 | **5-Year:** 566.73000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238207 | 0.37%                | 0.66%                | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-87184.30               | $-25475.73                                 |
| Month 2  | $-30160.29               | $57664.73                                  |
| Month 3  | $77593.41                | $-178666.70                                |

**Designated Index Information**

- **Index Name:** Morningstar LSTA Leveraged Loan Index

- **Index Identifier:** SPBDAL

### Schedule of Portfolio Investments

| Name                                                 | Title                                                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAL Delaware Holdco Inc                              | AAL Delaware Holdco Inc 2025 Term Loan                                         | CUSIP: 00036YAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     36907 | PA      | $36925.49     | 0.06%             | 2031-07-30      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                      | ABG Intermediate Holdings 2 LLC 2024 1st Lien Term Loan B                      | CUSIP: 00076VBL3<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |    105000 | PA      | $104868.49    | 0.18%             | 2028-12-21      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| ABG Intermediate Holdings 2 LLC                      | ABG Intermediate Holdings 2 LLC 2025 Delayed Draw Term Loan                    | CUSIP: 00076VBM1<br>LEI: 54930020NXD0RJB64985 | Long             | LON              | CORP              | US        |     59600 | PA      | $59451.25     | 0.10%             | 2032-02-13      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| AHP Health Partners, Inc.                            | AHP Health Partners Inc 2025 Term Loan B                                       | CUSIP: 00130MAL8<br>LEI: 549300QMM8MQ6SM5KX05 | Long             | LON              | CORP              | US        |     17486 | PA      | $17541.15     | 0.03%             | 2032-09-20      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| AI Aqua Merger Sub Inc                               | AI Aqua Merger Sub Inc 2024 1st Lien Term Loan B                               | CUSIP: 00132UAP9<br>LEI: 5493005QMH1D47U26R45 | Long             | LON              | CORP              | US        |    197363 | PA      | $197724.08    | 0.33%             | 2028-07-31      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| Learfield Communications, LLC                        | Learfield Communications LLC 2024 Term Loan B                                  | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |     78625 | PA      | $79129.34     | 0.13%             | 2028-06-30      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| APi Group DE Inc                                     | APi Group DE Inc 2025 Term Loan                                                | CUSIP: 00186XAN3<br>LEI: 549300XP4G7B4QYA0G83 | Long             | LON              | CORP              | US        |    291248 | PA      | $291460.30    | 0.49%             | 2029-01-03      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Trident TPI Holdings Inc                             | Trident TPI Holdings Inc 2024 Term Loan B7                                     | CUSIP: 00216EAL3<br>LEI: 549300TPLK304J3RNC85 | Long             | LON              | CORP              | US        |     43055 | PA      | $41985.90     | 0.07%             | 2028-09-15      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| AZZ Inc                                              | AZZ Inc Term Loan B                                                            | CUSIP: 00247NAG7<br>LEI: 549300HD1X2NFLWPYC83 | Long             | LON              | CORP              | US        |     21546 | PA      | $21594.79     | 0.04%             | 2029-05-13      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| ACProducts, Inc.                                     | ACProducts, Inc. 2021 Term Loan B                                              | CUSIP: 00488YAB2<br>LEI: 254900KTNXVUUHWHBF39 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-05-17      | Floating      | 8.51%                 | No            |                  2 | On Loan: No      |
| The Action Environmental Group Inc                   | The Action Environmental Group Inc 2023 Term Loan B                            | CUSIP: 00507JAF3<br>LEI: 549300BB30QUQC86W666 | Long             | LON              | CORP              | US        |     49375 | PA      | $49374.92     | 0.08%             | 2030-10-24      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Aimbridge Acquisition Co Inc                         | Aimbridge Acquisition Co Inc 2025 First Out Term Loan                          | CUSIP: 00900YAG1<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |     20099 | PA      | $20011.22     | 0.03%             | 2030-03-11      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| Aimbridge Acquisition Co Inc                         | Aimbridge Acquisition Co Inc 2025 1st Lien Second Out Term Loan                | CUSIP: 00900YAH9<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | LON              | CORP              | US        |     18490 | PA      | $18212.67     | 0.03%             | 2030-03-11      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Albion Financing 3 SARL                              | Albion Financing 3 SARL 2025 USD Term Loan                                     | CUSIP: 01330EAD0<br>LEI: 213800VFJ5CIN2NUQ821 | Long             | LON              | CORP              | US        |    159849 | PA      | $160549.05    | 0.27%             | 2031-05-21      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| AlixPartners LLP                                     | AlixPartners LLP 2025 USD Term Loan                                            | CUSIP: 01642PBE5<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |    235322 | PA      | $234307.50    | 0.39%             | 2032-08-12      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Alliant Holdings Intermediate, LLC                   | Alliant Holdings Intermediate LLC 2025 Term Loan B                             | CUSIP: 01881UAN5<br>LEI: 5493006Q26653NF8SI73 | Long             | LON              | CORP              | US        |    470044 | PA      | $469428.74    | 0.78%             | 2031-09-19      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                          | Allied Universal Holdco LLC 2025 USD Term Loan B                               | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |    380763 | PA      | $382107.44    | 0.64%             | 2032-08-20      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                | American Airlines Inc 2017 1st Lien Term Loan                                  | CUSIP: 02376CAX3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |     78359 | PA      | $78170.01     | 0.13%             | 2027-01-29      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                | American Airlines Inc 2023 1st Lien Term Loan                                  | CUSIP: 02376CBM6<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    108900 | PA      | $108525.38    | 0.18%             | 2029-06-04      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| American Airlines Inc                                | American Airlines Inc 2024 1st Lien Term Loan B                                | CUSIP: 02376CBR5<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | US        |    146986 | PA      | $146603.53    | 0.25%             | 2028-02-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines Inc 2025 Term Loan                                           | CUSIP: 02376CBS3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |     44554 | PA      | $44589.55     | 0.07%             | 2028-04-20      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                              | American Airlines Inc 2025 Term Loan B                                         | CUSIP: 02376CBT1<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | LON              | CORP              | KY        |     39800 | PA      | $39919.40     | 0.07%             | 2032-05-28      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| American Builders & Contractors Supply Co Inc        | American Builders & Contractors Supply Co Inc 2024 Term Loan B                 | CUSIP: 02474RAJ2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | LON              | CORP              | US        |    167209 | PA      | $167772.92    | 0.28%             | 2031-01-31      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Amneal Pharmaceuticals LLC                           | Amneal Pharmaceuticals LLC 2025 Term Loan B                                    | CUSIP: 03167DAR5<br>LEI: 54930037VIXE7LRZ1M66 | Long             | LON              | CORP              | US        |    201000 | PA      | $202423.08    | 0.34%             | 2032-08-01      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| AmWINS Group Inc                                     | AmWINS Group Inc 2025 Term Loan B                                              | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    340428 | PA      | $340781.54    | 0.57%             | 2032-01-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Anticimex International AB                           | Anticimex International AB 2024 Term Loan B6                                   | CUSIP: 03703HAB2<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |     44326 | PA      | $44478.08     | 0.07%             | 2028-11-16      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                | Prime Security Services Borrower LLC 2024 1st Lien Term Loan B                 | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |     26617 | PA      | $26559.06     | 0.04%             | 2030-10-13      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC                | Prime Security Services Borrower LLC 2025 Incremental Term Loan B              | CUSIP: 03765VAQ3<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    241025 | PA      | $239518.22    | 0.40%             | 2032-03-07      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Applied Systems Inc                                  | Applied Systems Inc 2024 1st Lien Term Loan                                    | CUSIP: 03827FBD2<br>LEI: 549300NSKGF0SY5SWQ62 | Long             | LON              | CORP              | US        |    328007 | PA      | $328459.91    | 0.55%             | 2031-02-24      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| AqGen Island Holdings Inc                            | AqGen Island Holdings Inc 2024 Term Loan B                                     | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    202901 | PA      | $203028.88    | 0.34%             | 2028-08-02      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                                 | Aramark Services Inc 2025 Repriced Term Loan                                   | CUSIP: 03852JBB6<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |     20000 | PA      | $20004.20     | 0.03%             | 2028-04-06      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Arcline FM Holdings LLC                              | Arcline FM Holdings LLC 2025 1st Lien Term Loan                                | CUSIP: 03960DAJ2<br>LEI: 2549000HKCEC1E8UTO17 | Long             | LON              | CORP              | US        |    100748 | PA      | $101024.56    | 0.17%             | 2030-06-23      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Aretec Group Inc                                     | Aretec Group Inc 2024 1st Lien Term Loan B                                     | CUSIP: 04009DAH7<br>LEI: 549300NV2T8A33L0PQ58 | Long             | LON              | CORP              | US        |     68009 | PA      | $68231.19     | 0.11%             | 2030-08-09      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Aruba Investments Holdings LLC                       | Aruba Investments Holdings LLC 2020 USD Term Loan                              | CUSIP: 04317JAB4<br>LEI: 254900GMIYFF4FZ0A357 | Long             | LON              | CORP              | US        |     82884 | PA      | $77289.23     | 0.13%             | 2027-11-24      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| Ascend Performance Materials Operations LLC          | Ascend Performance Materials Operations LLC 2021 Term Loan B                   | CUSIP: 04350TAC8<br>LEI: 549300NIMFUIRMMAGQ29 | Long             | LON              | CORP              | US        |     16481 | PA      | $120.15       | 0.00%             | 2026-08-27      | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| Asplundh Tree Expert LLC                             | Asplundh Tree Expert LLC 2021 Term Loan B                                      | CUSIP: 04538FAD1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    113511 | PA      | $113516.84    | 0.19%             | 2027-09-07      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2021 Term Loan B9                                                  | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     34459 | PA      | $34465.30     | 0.06%             | 2027-07-31      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2021 2nd Lien Term Loan B3                                         | CUSIP: 04649VAZ3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     65000 | PA      | $63588.20     | 0.11%             | 2028-01-31      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2021 Second Lien Term Loan B4                                      | CUSIP: 04649VBA7<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     65000 | PA      | $61876.10     | 0.10%             | 2029-01-20      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2023 Term Loan B11                                                 | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     89474 | PA      | $89737.62     | 0.15%             | 2028-08-19      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2024 Term Loan B12                                                 | CUSIP: 04649VBD1<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     29849 | PA      | $29733.13     | 0.05%             | 2030-09-19      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                          | Asurion LLC 2025 Term Loan B13                                                 | CUSIP: 04649VBE9<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    262447 | PA      | $261244.76    | 0.44%             | 2030-09-19      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Athenahealth Group Inc                               | Athenahealth Group Inc 2022 Term Loan B                                        | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |    242741 | PA      | $241488.68    | 0.40%             | 2029-02-15      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Atlas CC Acquisition Corp                            | Atlas CC Acquisition Corp 2025 Second Out Term Loan B                          | CUSIP: 04921TAR5<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |    273387 | PA      | $155745.94    | 0.26%             | 2029-05-25      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Atlas CC Acquisition Corp                            | Atlas CC Acquisition Corp 2025 Second Out Term Loan C                          | CUSIP: 04921TAS3<br>LEI: 6HHLXIOGCDNZ4IRAIW26 | Long             | LON              | CORP              | US        |     36772 | PA      | $20948.86     | 0.04%             | 2029-05-25      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Avalara Inc                                          | Avalara Inc 2025 Term Loan                                                     | CUSIP: 05338KAD9<br>LEI: 549300Q16CMW239SS315 | Long             | LON              | CORP              | US        |     90972 | PA      | $91120.79     | 0.15%             | 2032-03-26      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| BCPE Pequod Buyer Inc                                | BCPE Pequod Buyer Inc USD Term Loan B                                          | CUSIP: 05624AAB8<br>LEI: 254900HEEOS2IWC84V94 | Long             | LON              | CORP              | US        |    132668 | PA      | $132999.17    | 0.22%             | 2031-11-25      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Baldwin Insurance Group Holdings LLC                 | Baldwin Insurance Group Holdings LLC 2025 Term Loan B2                         | CUSIP: 05825HAH7<br>LEI: 5493004GCDREAQPPYG20 | Long             | LON              | CORP              | US        |     86822 | PA      | $86930.19     | 0.15%             | 2031-05-26      | Floating      | 6.55%                 | No            |                  3 | On Loan: No      |
| Bally's Corporation                                  | Bally's Corporation 2021 Term Loan B                                           | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |     58011 | PA      | $53451.76     | 0.09%             | 2028-10-02      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                             | Boxer Parent Company Inc 2025 USD Term Loan B                                  | CUSIP: 05988HAQ0<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |    305465 | PA      | $303232.05    | 0.51%             | 2031-07-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Barracuda Networks Inc                               | Barracuda Networks Inc 2022 Term Loan                                          | CUSIP: 06832FAB3<br>LEI: 549300CXGRZWNMPU8080 | Long             | LON              | CORP              | US        |    147666 | PA      | $122531.67    | 0.20%             | 2029-08-15      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                          | Beach Acquisition Bidco LLC USD Term Loan B                                    | CUSIP: 07337FAB1<br>LEI: 254900F2FNX3GBTB6202 | Long             | LON              | CORP              | US        |     31000 | PA      | $31141.98     | 0.05%             | 2032-09-12      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| QXO Inc                                              | QXO Inc Term Loan B                                                            | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |     32111 | PA      | $32132.62     | 0.05%             | 2032-04-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                                 | Beignet Investor LLC                                                           | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $554687.85    | 0.93%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Belron Finance 2019 LLC                              | Belron Finance 2019 LLC 2025 Repriced Term Loan B                              | CUSIP: 08078UAN3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    374974 | PA      | $376537.52    | 0.63%             | 2031-10-16      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Blackfin Pipeline LLC                                | Blackfin Pipeline LLC Term Loan B                                              | CUSIP: 09231PAB2<br>LEI: 254900F4BUS186SK8A51 | Long             | LON              | CORP              | US        |     43000 | PA      | $42946.25     | 0.07%             | 2032-09-29      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Bleriot US Bidco Inc                                 | Bleriot US Bidco Inc 2023 Term Loan B                                          | CUSIP: 09353TAJ9<br>LEI: 254900ALCQ2A2VYD5Z08 | Long             | LON              | CORP              | US        |     66023 | PA      | $66125.94     | 0.11%             | 2030-10-31      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Recreational Products Inc                 | Bombardier Recreational Products Inc 2024 Term Loan B4                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |     51870 | PA      | $51792.20     | 0.09%             | 2031-01-22      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Boots Group Bidco Ltd                                | Boots Group Bidco Ltd USD Term Loan                                            | CUSIP: 09947PAB7<br>LEI: 254900YVLYOVF1PF1N93 | Long             | LON              | CORP              | US        |    112000 | PA      | $112420.00    | 0.19%             | 2032-08-30      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                             | Brand Industrial Services Inc                                                  | CUSIP: 104931AA8<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |     68000 | PA      | $65427.87     | 0.11%             | 2030-08-01      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Brand Industrial Services Inc                        | Brand Industrial Services Inc 2024 Term Loan B                                 | CUSIP: 10524MAS6<br>LEI: 549300B658W2BPDQMW42 | Long             | LON              | CORP              | US        |    229558 | PA      | $202394.51    | 0.34%             | 2030-08-01      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions LLC                 | Bright Horizons Family Solutions LLC 2025 Term Loan B                          | CUSIP: 10919RAR0<br>LEI: 254900BHOU40CFNXWQ75 | Long             | LON              | CORP              | US        |    133655 | PA      | $134022.42    | 0.22%             | 2032-08-23      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Brown Group Holding LLC                              | Brown Group Holding LLC 2022 Incremental Term Loan B2                          | CUSIP: 11565HAD8<br>LEI: 25490094PF4HHK9QS109 | Long             | LON              | CORP              | US        |    163217 | PA      | $163828.57    | 0.27%             | 2031-07-01      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                                  | Buckeye Partners LP 2025 Term Loan B7                                          | CUSIP: 11823LAR6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | LON              | CORP              | US        |     46601 | PA      | $46598.34     | 0.08%             | 2032-11-22      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| CCRR Parent Inc                                      | CCRR Parent Inc Term Loan B                                                    | CUSIP: 12510MAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29689 | PA      | $9277.85      | 0.02%             | 2028-03-06      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| CCC Intelligent Solutions Inc                        | CCC Intelligent Solutions Inc Term Loan                                        | CUSIP: 12511BAC6<br>LEI: 5493006JEEL9RIWY5T17 | Long             | LON              | CORP              | US        |    124061 | PA      | $124119.46    | 0.21%             | 2032-01-23      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| CHG Healthcare Services Inc                          | CHG Healthcare Services Inc 2025 Term Loan B1                                  | CUSIP: 12541HAX1<br>LEI: 54930016Y1HPAVB9PZ54 | Long             | LON              | CORP              | US        |    127901 | PA      | $128252.66    | 0.21%             | 2028-09-29      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| CPI Holdco B LLC                                     | CPI Holdco B LLC 2024 Term Loan                                                | CUSIP: 1261MAAB6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    272903 | PA      | $272684.35    | 0.46%             | 2031-05-19      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| CPI HOLDCO B LLC                                     | CPI HOLDCO B LLC 2025 FUNGIBLE Add-On TERM LOAN                                | CUSIP: 1261MAAE0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     43000 | PA      | $42965.60     | 0.07%             | 2031-05-17      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| CNT Holdings I Corp                                  | CNT Holdings I Corp 2025 Term Loan                                             | CUSIP: 12656AAF6<br>LEI: 254900SYIEHMSB69WT08 | Long             | LON              | CORP              | US        |    128391 | PA      | $128559.33    | 0.21%             | 2032-11-08      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| CP Atlas Buyer, Inc.                                 | CP Atlas Buyer Inc 2025 Term Loan                                              | CUSIP: 12658HAL6<br>LEI: 2549006ZZ07G0NDDCR36 | Long             | LON              | CORP              | US        |     99000 | PA      | $97440.75     | 0.16%             | 2030-07-08      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                            | Caesars Entertainment Inc Term Loan B                                          | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |     33415 | PA      | $33108.58     | 0.06%             | 2030-02-06      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                            | Caesars Entertainment Inc 2024 Term Loan B1                                    | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    346056 | PA      | $342422.36    | 0.57%             | 2031-02-06      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Calpine Construction Finance Company LP              | Calpine Construction Finance Company LP 2023 Refinancing Term Loan B           | CUSIP: 13134NAH4<br>LEI: V0Q3DOB0FIB2XI1KWU77 | Long             | LON              | CORP              | US        |    148800 | PA      | $148897.92    | 0.25%             | 2030-07-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Cvent, Inc.                                          | Cvent Inc 2025 Term Loan B                                                     | CUSIP: 14071CAE8<br>LEI: 254900YSP2BAI3YKIX08 | Long             | LON              | CORP              | US        |    106868 | PA      | $106623.48    | 0.18%             | 2030-06-17      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Six Flags Entertainment Corporation                  | Six Flags Entertainment Corporation 2024 Term Loan B                           | CUSIP: 15018LAN1<br>LEI: 529900AS2CYWYFHRS781 | Long             | LON              | CORP              | US        |     38213 | PA      | $37942.71     | 0.06%             | 2031-05-01      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Central Parent Inc                                   | Central Parent Inc 2024 Term Loan B                                            | CUSIP: 15477BAE7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    265973 | PA      | $218302.59    | 0.36%             | 2029-07-06      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                              | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                  | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     94000 | PA      | $78686.09     | 0.13%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Crash Champions LLC                                  | Crash Champions LLC 2024 Term Loan B                                           | CUSIP: 15870MAC0<br>LEI: 391200ZDD75EGEUJ7625 | Long             | LON              | CORP              | US        |     13655 | PA      | $12601.16     | 0.02%             | 2029-02-23      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| Chamberlain Group Inc                                | Chamberlain Group Inc 2025 Term Loan B                                         | CUSIP: 15963CAE6<br>LEI: 25490092IFNOZBRVE539 | Long             | LON              | CORP              | US        |    273732 | PA      | $274416.04    | 0.46%             | 2032-09-08      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Chart Industries Inc                                 | Chart Industries Inc 2024 Term Loan B                                          | CUSIP: 16115EAT4<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | LON              | CORP              | US        |     36856 | PA      | $36959.58     | 0.06%             | 2030-03-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating LLC                 | Charter Communications Operating LLC 2023 Term Loan B4                         | CUSIP: 16117LCB3<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     41054 | PA      | $40961.39     | 0.07%             | 2030-12-07      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Charter Communications Operating, LLC                | Charter Communications Operating LLC 2024 Term Loan B5                         | CUSIP: 16117LCE7<br>LEI: 549300TPZNMN50BJ3745 | Long             | LON              | CORP              | US        |     81417 | PA      | $81232.24     | 0.14%             | 2031-12-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Charter NEX US, Inc.                                 | Charter NEX US Inc 2024 Term Loan B1                                           | CUSIP: 16125TAM4<br>LEI: 549300KRNU8RNVGYXG75 | Long             | LON              | CORP              | US        |    252460 | PA      | $253313.18    | 0.42%             | 2030-11-29      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Chemours Company (The)                               | Chemours Company (The) 2025 Term Loan B                                        | CUSIP: 16384YAM9<br>LEI: 549300M1BOLNXL8DOV14 | Long             | LON              | CORP              | US        |    201873 | PA      | $198289.67    | 0.33%             | 2032-10-15      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| CHICAGO US MIDCO III LP                              | CHICAGO US MIDCO III LP TERM LOAN                                              | CUSIP: 16825PAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    155615 | PA      | $155420.86    | 0.26%             | 2032-10-30      | Floating      | 6.49%                 | No            |                  3 | On Loan: No      |
| CHICAGO US MIDCO III LP                              | CHICAGO US MIDCO III LP DELAYED DRAW TERM LOAN                                 | CUSIP: 16825PAC7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     23111 | PA      | $23082.31     | 0.04%             | 2032-10-30      | Floating      | 6.49%                 | No            |                  3 | On Loan: No      |
| CHOBANI LLC                                          | CHOBANI LLC 2025 TERM LOAN B                                                   | CUSIP: 17026YAL3<br>LEI: 549300ISVDMZ91KNTR38 | Long             | LON              | CORP              | US        |    383000 | PA      | $383720.04    | 0.64%             | 2032-10-22      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                             | Chobani LLC / Chobani Finance Corp Inc                                         | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $57200.28     | 0.10%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Ciena Corporation                                    | Ciena Corporation 2025 Repriced Term Loan B                                    | CUSIP: 17178HAR3<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | LON              | CORP              | US        |     98416 | PA      | $98521.34     | 0.16%             | 2030-10-24      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Citadel Securities LP                                | Citadel Securities LP 2024 First Lien Term Loan                                | CUSIP: 17288YAN2<br>LEI: 549300NV5RXBUS3X7L47 | Long             | LON              | CORP              | US        |    148906 | PA      | $149334.36    | 0.25%             | 2031-10-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Citrin Cooperman Advisors LLC                        | Citrin Cooperman Advisors LLC 2025 Term Loan B                                 | CUSIP: 17737EAC7<br>LEI: 254900DPG9ZEAP5MK895 | Long             | LON              | CORP              | US        |     84942 | PA      | $84906.39     | 0.14%             | 2032-04-01      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Citrin Cooperman Advisors LLC                        | Citrin Cooperman Advisors LLC 2025 Delayed Draw Term Loan                      | CUSIP: 17737EAD5<br>LEI: 254900DPG9ZEAP5MK895 | Long             | LON              | CORP              | US        |     16440 | PA      | $16433.52     | 0.03%             | 2032-04-01      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| CITY FOOTBALL GROUP LIMITED                          | City Football Group Limited 2024 Term Loan                                     | CUSIP: 17781XAD8<br>LEI: 213800K6VVWALRH9UJ69 | Long             | LON              | CORP              | GB        |    118788 | PA      | $118527.59    | 0.20%             | 2030-07-22      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Clean Harbors Inc                                    | Clean Harbors Inc 2025 Term Loan                                               | CUSIP: 18449EAJ9<br>LEI: 5493000SJVZVZJKHJF48 | Long             | LON              | CORP              | US        |     44000 | PA      | $44130.68     | 0.07%             | 2032-10-08      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings Inc                   | Clear Channel Outdoor Holdings Inc 2024 Term Loan                              | CUSIP: 18452RAF2<br>LEI: 254900XBEE6V1ENYS150 | Long             | LON              | CORP              | US        |     23822 | PA      | $23844.50     | 0.04%             | 2028-08-23      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                             | Clear Channel Outdoor Holdings Inc                                             | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54583.59     | 0.09%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Clearwater Analytics LLC                             | Clearwater Analytics LLC 2025 Term Loan B                                      | CUSIP: 18512EAF9<br>LEI: 894500N8DN2JO5ZDRQ11 | Long             | LON              | CORP              | US        |     87000 | PA      | $87054.81     | 0.15%             | 2032-04-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                               | Cloud Software Group Inc                                                       | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29995.86     | 0.05%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Clover Holdings 2 LLC                                | Clover Holdings 2 LLC Term Loan B                                              | CUSIP: 18914DAB4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    131340 | PA      | $131135.11    | 0.22%             | 2031-12-09      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Clover Holdings 2 LLC                                | Clover Holdings 2 LLC Fixed Term Loan B                                        | CUSIP: 18914DAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    128355 | PA      | $128435.86    | 0.21%             | 2031-12-09      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                  | Clydesdale Acquisition Holdings Inc Term Loan B                                | CUSIP: 18972FAC6<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     20000 | PA      | $19984.40     | 0.03%             | 2029-04-13      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                  | Clydesdale Acquisition Holdings Inc 2025 Term Loan B                           | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    158435 | PA      | $158008.60    | 0.26%             | 2032-04-01      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Colossus Acquireco LLC                               | Colossus Acquireco LLC Term Loan B                                             | CUSIP: 19682LAB4<br>LEI: 2549009FT92RXWA46910 | Long             | LON              | CORP              | US        |    150000 | PA      | $149250.00    | 0.25%             | 2032-07-30      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Columbus McKinnon Corporation                        | Columbus McKinnon Corporation 2024 Term Loan                                   | CUSIP: 19933MAQ6<br>LEI: 549300W3HQB0HO1F3G69 | Long             | LON              | CORP              | US        |     46217 | PA      | $46158.94     | 0.08%             | 2028-05-14      | Floating      | 6.50%                 | No            |                  3 | On Loan: No      |
| Concentra Health Services Inc                        | Concentra Health Services Inc 2025 Repriced Term Loan B                        | CUSIP: 20602RAD2<br>LEI: 984500GB84105F75DE32 | Long             | LON              | CORP              | US        |     69575 | PA      | $69706.18     | 0.12%             | 2031-07-26      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Construction Partners Inc                            | Construction Partners Inc Term Loan B                                          | CUSIP: 21043XAH5<br>LEI: 549300MHLFL4E8JLZU44 | Long             | LON              | CORP              | US        |     27790 | PA      | $27824.74     | 0.05%             | 2031-11-03      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| CoreLogic Inc                                        | CoreLogic Inc Term Loan                                                        | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |    201598 | PA      | $201395.95    | 0.34%             | 2028-06-02      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                 | Cotiviti Corporation 2024 Term Loan                                            | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    310662 | PA      | $298753.84    | 0.50%             | 2031-05-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| Cotiviti Corporation                                 | Cotiviti Corporation 2024 Fixed Term Loan B                                    | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    128071 | PA      | $125509.58    | 0.21%             | 2031-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Reworld Holding Corp                                 | Reworld Holding Corp Term Loan B                                               | CUSIP: 22282GAM9<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     43414 | PA      | $43414.06     | 0.07%             | 2028-11-30      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Reworld Holding Corp                                 | Reworld Holding Corp Term Loan C                                               | CUSIP: 22282GAN7<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |      3361 | PA      | $3360.58      | 0.01%             | 2028-11-30      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| Reworld Holding Corp                                 | Reworld Holding Corp 2025 1st Lien Term Loan B                                 | CUSIP: 22282GAR8<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | LON              | CORP              | US        |     37000 | PA      | $36876.79     | 0.06%             | 2031-01-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Covia Holdings Corporation                           | Covia Holdings Corporation 2025 Repriced Term Loan B                           | CUSIP: 22305CAF6<br>LEI: 213800IE4YGTGVTQ1806 | Long             | LON              | CORP              | US        |     43890 | PA      | $43917.65     | 0.07%             | 2032-02-26      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Creative Artists Agency LLC                          | Creative Artists Agency LLC 2025 Repriced Term Loan B                          | CUSIP: 22526WAU2<br>LEI: 5493008FV5TCFL3KHH96 | Long             | LON              | CORP              | US        |    312491 | PA      | $312793.87    | 0.52%             | 2031-10-01      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Crown Finance US Inc                                 | Crown Finance US Inc 2025 Term Loan B                                          | CUSIP: 22834KAV3<br>LEI: 254900ABTWPQTCKKR839 | Long             | LON              | CORP              | US        |     79463 | PA      | $79250.35     | 0.13%             | 2031-12-02      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| Cushman & Wakefield U.S. Borrower, LLC               | Cushman & Wakefield US Borrower LLC 2025 Term Loan B3                          | CUSIP: 23340DAW2<br>LEI: 549300870CMN3WI5IF97 | Long             | LON              | CORP              | US        |     25425 | PA      | $25467.46     | 0.04%             | 2030-01-31      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Drake Software LLC                                   | Drake Software LLC 2024 Term Loan B                                            | CUSIP: 23344UAF7<br>LEI: 25490030X7DBAF7KCR65 | Long             | LON              | CORP              | US        |     58320 | PA      | $57664.38     | 0.10%             | 2031-06-26      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| DAYFORCE INC                                         | DAYFORCE INC 2025 TERM LOAN                                                    | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    255000 | PA      | $254043.75    | 0.42%             | 2032-10-07      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                         | Dayforce Inc 2025 Term Loan B                                                  | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    200346 | PA      | $200345.87    | 0.33%             | 2031-03-01      | Floating      | 5.84%                 | No            |                  3 | On Loan: No      |
| Dealer Tire Financial LLC                            | Dealer Tire Financial LLC 2024 Term Loan B4                                    | CUSIP: 24228HAR9<br>LEI: 894500QBE5Z2XQWCJ779 | Long             | LON              | CORP              | US        |    117835 | PA      | $116804.12    | 0.20%             | 2031-07-02      | Floating      | 6.96%                 | No            |                  3 | On Loan: No      |
| Deep Blue Operating I LLC                            | Deep Blue Operating I LLC Term Loan                                            | CUSIP: 24369TAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     27000 | PA      | $27050.76     | 0.05%             | 2032-10-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| Derby Buyer LLC                                      | Derby Buyer LLC 2024 Repriced Term Loan B                                      | CUSIP: 24968CAE3<br>LEI: 2549003XRO7JUBUWQX87 | Long             | LON              | CORP              | US        |    119979 | PA      | $119828.62    | 0.20%             | 2030-11-01      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| DirecTV Financing LLC                                | DirecTV Financing LLC Term Loan                                                | CUSIP: 25460HAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      2158 | PA      | $2157.50      | 0.00%             | 2027-08-02      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| Discovery Purchaser Corporation                      | Discovery Purchaser Corporation Term Loan                                      | CUSIP: 25471NAC0<br>LEI: 2549001LSO1ZBIPA5D65 | Long             | LON              | CORP              | US        |     36723 | PA      | $36335.39     | 0.06%             | 2029-10-04      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                           | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B1                          | CUSIP: 26812CAN6<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |    256742 | PA      | $257075.73    | 0.43%             | 2031-10-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Dynasty Acquisition Co Inc                           | Dynasty Acquisition Co Inc 2024 1st Lien Term Loan B2                          | CUSIP: 26812CAP1<br>LEI: 549300L1RCRPOAUCB870 | Long             | LON              | CORP              | US        |     98000 | PA      | $98127.52     | 0.16%             | 2031-10-31      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| ECL ENTERTAINMENT LLC                                | ECL Entertainment LLC 2025 Term Loan B                                         | CUSIP: 26826TAM5<br>LEI: 254900UPSGHOBB360Z85 | Long             | LON              | CORP              | US        |     29621 | PA      | $29500.54     | 0.05%             | 2030-08-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                    | EMRLD Borrower LP Term Loan B                                                  | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    239330 | PA      | $238605.28    | 0.40%             | 2030-05-31      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                    | EMRLD Borrower LP 2024 Term Loan B                                             | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    187424 | PA      | $186631.06    | 0.31%             | 2031-08-04      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                     | EOC Borrower LLC Term Loan B                                                   | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    368078 | PA      | $369457.79    | 0.62%             | 2032-03-24      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| ECO Services Operations Corp                         | ECO Services Operations Corp 2024 Term Loan B                                  | CUSIP: 27922JAC0<br>LEI: 254900NH3N3I82Z6Q744 | Long             | LON              | CORP              | US        |    138438 | PA      | $137919.09    | 0.23%             | 2031-06-12      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Edelman Financial Center LLC                         | Edelman Financial Center LLC 2024 Term Loan                                    | CUSIP: 27943UAM8<br>LEI: 549300Z31KZXNP05U733 | Long             | LON              | CORP              | US        |    168985 | PA      | $169522.26    | 0.28%             | 2028-04-07      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Elanco Animal Health Incorporated                    | Elanco Animal Health Inc Term Loan B                                           | CUSIP: 28414BAF3<br>LEI: 549300SHPNDCE059M934 | Long             | LON              | CORP              | US        |    114761 | PA      | $114672.58    | 0.19%             | 2027-08-01      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Electron BidCo Inc                                   | Electron BidCo Inc 2021 Term Loan                                              | CUSIP: 28542CAC3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    165823 | PA      | $166463.54    | 0.28%             | 2028-11-01      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                              | Ellucian Holdings Inc 2024 1st Lien Term Loan B                                | CUSIP: 28917XAB6<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |    313017 | PA      | $313311.67    | 0.52%             | 2029-10-09      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Ellucian Holdings, Inc.                              | Ellucian Holdings Inc 2024 2nd Lien Term Loan                                  | CUSIP: 28917XAE0<br>LEI: 549300RP8NIJ7FY7OS79 | Long             | LON              | CORP              | US        |     49000 | PA      | $49474.81     | 0.08%             | 2032-11-22      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Endo Luxembourg Finance Company I S.a r.l.           | Endo Luxembourg Finance Company I Sa rl 2024 1st Lien Term Loan                | CUSIP: 29280UAD5<br>LEI: 222100B15VY0VVCTG251 | Long             | LON              | CORP              | US        |     34874 | PA      | $34647.38     | 0.06%             | 2031-04-23      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| Ensemble RCM LLC                                     | Ensemble RCM LLC 2024 Term Loan B                                              | CUSIP: 29359BAE1<br>LEI: 254900PDXJVVI20WAQ37 | Long             | LON              | CORP              | US        |    138083 | PA      | $138578.41    | 0.23%             | 2029-08-01      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Entegris Inc                                         | Entegris Inc 2023 Term Loan B                                                  | CUSIP: 29362LAM6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | LON              | CORP              | US        |     50262 | PA      | $50461.82     | 0.08%             | 2029-07-06      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Epicor Software Corporation                          | Epicor Software Corporation 2024 Term Loan F                                   | CUSIP: 29426NAZ7<br>LEI: JGNXVGGGXR4O1L5I7S73 | Long             | LON              | CORP              | US        |    217847 | PA      | $218256.68    | 0.36%             | 2031-05-30      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Constellation Renewables, LLC                        | Constellation Renewables LLC 2020 Term Loan                                    | CUSIP: 30204KAD8<br>LEI: 5493004JBPWTPTK8LB51 | Long             | LON              | CORP              | US        |     89498 | PA      | $89367.54     | 0.15%             | 2027-12-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC                           | Fertitta Entertainment LLC 2022 Term Loan B                                    | CUSIP: 31556PAB3<br>LEI: 984500A0805D8V551D35 | Long             | LON              | CORP              | US        |    349937 | PA      | $349513.46    | 0.58%             | 2029-01-27      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                               | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc             | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $148310.83    | 0.25%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Filtration Group Corporation                         | Filtration Group Corporation 2025 USD Term Loan                                | CUSIP: 31732FAX4<br>LEI: 549300ZA0D9WN5ECE978 | Long             | LON              | CORP              | US        |    185563 | PA      | $186219.82    | 0.31%             | 2028-10-21      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Finastra USA Inc                                     | Finastra USA Inc 2025 USD Term Loan                                            | CUSIP: 31772YAD8<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |    333000 | PA      | $328777.56    | 0.55%             | 2032-09-15      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| GIP Pilot Acquisition Partners LP                    | GIP Pilot Acquisition Partners LP 2025 Term Loan B                             | CUSIP: 31773HAE2<br>LEI: 254900NQOAOPPA12X060 | Long             | LON              | CORP              | US        |      8883 | PA      | $8874.45      | 0.01%             | 2030-10-04      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| Fleet Midco I Limited                                | Fleet Midco I Limited 2024 1st Lien Term Loan B                                | CUSIP: 33902UAD5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     71520 | PA      | $71609.01     | 0.12%             | 2031-02-21      | Floating      | 6.54%                 | No            |                  3 | On Loan: No      |
| Corpay Technologies Operating Company LLC            | Corpay Technologies Operating Company LLC Term Loan B5                         | CUSIP: 33903RAZ2<br>LEI: 549300FKKKZCXLK48427 | Long             | LON              | CORP              | US        |    208582 | PA      | $208438.17    | 0.35%             | 2028-04-28      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| Focus Financial Partners LLC                         | Focus Financial Partners LLC 2025 Incremental Term Loan B                      | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |    208045 | PA      | $208500.74    | 0.35%             | 2031-09-15      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Fortis 333 Inc                                       | Fortis 333 Inc USD Term Loan B                                                 | CUSIP: 34958SAB5<br>LEI: 254900SLITS19RU1VB55 | Long             | LON              | CORP              | US        |     48878 | PA      | $47117.91     | 0.08%             | 2032-03-29      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Fortress Intermediate 3, Inc                         | Fortress Intermediate 3 Inc 2025 Term Loan B                                   | CUSIP: 34966LAD6<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | LON              | CORP              | US        |     58607 | PA      | $58680.50     | 0.10%             | 2031-06-27      | Floating      | 7.11%                 | No            |                  3 | On Loan: No      |
| Four Seasons Hotels Limited                          | Four Seasons Hotels Limited 2025 Term Loan B                                   | CUSIP: 000000000<br>LEI: 5493009FUVX8LHYY2202 | Long             | LON              | CORP              | CA        |     80728 | PA      | $80727.58     | 0.13%             | 2032-09-22      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Freeport LNG Investments LLLP                        | Freeport LNG Investments LLLP 2025 Term Loan B                                 | CUSIP: 35670CAC2<br>LEI: 549300LR5YVRZH4YPQ33 | Long             | LON              | CORP              | US        |    224092 | PA      | $224325.23    | 0.37%             | 2028-12-21      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                | GFL Environmental Inc                                                          | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |     25000 | PA      | $24456.30     | 0.04%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Skopima Merger Sub Inc                               | Skopima Merger Sub Inc 2024 Repriced Term Loan                                 | CUSIP: 36171NAG1<br>LEI: 254900K3R60UMIODZD21 | Long             | LON              | CORP              | US        |     79387 | PA      | $68131.04     | 0.11%             | 2028-05-12      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc                                | GFL Environmental Inc 2025 Term Loan B                                         | CUSIP: 36257SAB8<br>LEI: 254900PGDQWC19PRP053 | Long             | LON              | CORP              | US        |    239000 | PA      | $238761.00    | 0.40%             | 2032-03-03      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| GTCR Everest Borrower LLC                            | GTCR Everest Borrower LLC Add on Term Loan B                                   | CUSIP: 36269YAD7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     44888 | PA      | $45006.90     | 0.08%             | 2031-09-05      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Galaxy US Opco Inc                                   | Galaxy US Opco Inc Term Loan                                                   | CUSIP: 36321DAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     65126 | PA      | $58654.65     | 0.10%             | 2030-07-31      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Garrett LX I SARL                                    | Garrett LX I SARL 2025 USD Term Loan B                                         | CUSIP: 36649XAG3<br>LEI: 549300LKYJ4RR1ELO069 | Long             | LON              | CORP              | LU        |     11995 | PA      | $11987.93     | 0.02%             | 2032-01-30      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| Gates Global LLC                                     | Gates Global LLC 2024 Term Loan B5                                             | CUSIP: 36740UAY8<br>LEI: 984500F43C791F4C7894 | Long             | LON              | CORP              | US        |    251620 | PA      | $251353.72    | 0.42%             | 2031-06-04      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Generac Power Systems Inc                            | Generac Power Systems Inc 2024 Term Loan B                                     | CUSIP: 36874VAQ1<br>LEI: 549300JQWLGGW8KC1X38 | Long             | LON              | CORP              | US        |     49375 | PA      | $49539.42     | 0.08%             | 2031-07-03      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Genesee & Wyoming Inc (New)                          | Genesee & Wyoming Inc (New) 2024 Term Loan                                     | CUSIP: 37156QAZ9<br>LEI: G617XSG94Z7G0RMW3L02 | Long             | LON              | CORP              | US        |    330162 | PA      | $329280.60    | 0.55%             | 2031-04-10      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                     | Getty Images Inc                                                               | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     47000 | PA      | $46651.61     | 0.08%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                       | Go Daddy Operating Company LLC 2024 Term Loan B7                               | CUSIP: 38017BAW6<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |    120844 | PA      | $120478.60    | 0.20%             | 2031-05-30      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Go Daddy Operating Company LLC                       | Go Daddy Operating Company LLC 2024 Term Loan B8                               | CUSIP: 38017BAX4<br>LEI: 5493005GJOH8HLL11157 | Long             | LON              | CORP              | US        |     84783 | PA      | $84601.93     | 0.14%             | 2029-11-09      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Barnes Group Inc                                     | Barnes Group Inc 2025 Term Loan B                                              | CUSIP: 38021CAC2<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | LON              | CORP              | US        |     45770 | PA      | $45712.79     | 0.08%             | 2032-01-27      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| GOGO Intermediate Holdings LLC                       | GOGO Intermediate Holdings LLC Term Loan B                                     | CUSIP: 38046JAB0<br>LEI: 2549003PQSV921SNHM89 | Long             | LON              | CORP              | US        |     16801 | PA      | $16483.37     | 0.03%             | 2028-04-30      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Grant Thornton Advisors LLC                          | Grant Thornton Advisors LLC 2025 Term Loan B                                   | CUSIP: 38821UAD2<br>LEI: 254900XS1SHU0YY3WF58 | Long             | LON              | CORP              | US        |     98816 | PA      | $98446.51     | 0.16%             | 2031-06-02      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                                  | Gray Television Inc 2024 Term Loan B                                           | CUSIP: 389376BC7<br>LEI: 529900TM5726KDN7UU35 | Long             | LON              | CORP              | US        |       400 | PA      | $399.75       | 0.00%             | 2029-06-04      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| Genesys Cloud Services Holdings II LLC               | Genesys Cloud Services Holdings II LLC 2025 USD Term Loan B                    | CUSIP: 39479UAY9<br>LEI: 254900CRMBG6WX4HX396 | Long             | LON              | CORP              | US        |    481452 | PA      | $475433.50    | 0.79%             | 2032-01-30      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Gryphon Acquire Newco, LLC                           | Gryphon Acquire Newco LLC Term Loan B                                          | CUSIP: 40054QAB9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     72000 | PA      | $72315.36     | 0.12%             | 2032-09-13      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| Intrado Corporation                                  | Intrado Corporation 2023 Term Loan B                                           | CUSIP: 40147EAB5<br>LEI: 254900OSYC6XQ21DY128 | Long             | LON              | CORP              | US        |     29648 | PA      | $29654.22     | 0.05%             | 2030-01-31      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Gulfside Supply Inc                                  | Gulfside Supply Inc Term Loan B                                                | CUSIP: 40273UAE9<br>LEI: 5493009BEGVKVXE2HW08 | Long             | LON              | CORP              | US        |     59100 | PA      | $58420.63     | 0.10%             | 2031-06-17      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| H.B. Fuller Company                                  | HB Fuller Company 2025 Term Loan B                                             | CUSIP: 40409VAW4<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | LON              | CORP              | US        |    144072 | PA      | $144492.43    | 0.24%             | 2030-02-15      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                       | Core & Main LP 2024 Term Loan D                                                | CUSIP: 40416VAG0<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |     95871 | PA      | $95830.37     | 0.16%             | 2028-07-27      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Core & Main LP                                       | Core & Main LP 2024 Term Loan E                                                | CUSIP: 40416VAH8<br>LEI: 549300ZSLF8Q660SCD17 | Long             | LON              | CORP              | US        |    214733 | PA      | $214286.24    | 0.36%             | 2031-02-09      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Hayward Industries Inc                               | Hayward Industries Inc 2021 Term Loan                                          | CUSIP: 421300AL8<br>LEI: 549300NV8ZMMEDUHQ091 | Long             | LON              | CORP              | US        |     23978 | PA      | $24038.02     | 0.04%             | 2028-05-30      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Herschend Entertainment Company, LLC                 | Herschend Entertainment Company LLC 2025 Term Loan B                           | CUSIP: 42778EAG6<br>LEI: 54930087KQ7RPDXK0716 | Long             | LON              | CORP              | US        |     85785 | PA      | $86106.69     | 0.14%             | 2032-05-27      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                             | Hertz Corporation (The) 2021 Term Loan B                                       | CUSIP: 42804VBB6<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |    111952 | PA      | $92630.25     | 0.15%             | 2028-06-30      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Hertz Corporation, (The)                             | Hertz Corporation (The) 2021 Term Loan C                                       | CUSIP: 42804VBC4<br>LEI: 549300PD0C69OJ0NLB27 | Long             | LON              | CORP              | US        |     21197 | PA      | $17538.40     | 0.03%             | 2028-06-30      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP                                  | Hilcorp Energy I LP Term Loan B                                                | CUSIP: 431319AH5<br>LEI: 549300ITPIHLG0LHEC09 | Long             | LON              | CORP              | US        |     84575 | PA      | $84628.28     | 0.14%             | 2030-02-11      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Hilton Domestic Operating Company Inc                | Hilton Domestic Operating Company Inc 2023 Term Loan B4                        | CUSIP: 43289DAK9<br>LEI: 5493003EG7H0N1E4XV50 | Long             | LON              | CORP              | US        |    129000 | PA      | $129264.45    | 0.22%             | 2030-11-08      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| HUB International Limited                            | HUB International Limited 2025 Term Loan B                                     | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |    431816 | PA      | $433150.39    | 0.72%             | 2030-06-20      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| HUSKY INJECTION / TITAN                              | Husky Injection Molding Systems Ltd / Titan Co-Borrower LLC                    | CUSIP: 44805RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     43000 | PA      | $44425.06     | 0.07%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| IRB Holding Corp                                     | IRB Holding Corp 2024 1st Lien Term Loan B                                     | CUSIP: 44988LAL1<br>LEI: 549300HVW4WNWYBXN830 | Long             | LON              | CORP              | US        |    138013 | PA      | $138180.14    | 0.23%             | 2027-12-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Coherent Corp                                        | Coherent Corp 2025 Term Loan B2                                                | CUSIP: 45173JAT1<br>LEI: 549300O5C25A0MMHHU33 | Long             | LON              | CORP              | US        |     97738 | PA      | $97767.99     | 0.16%             | 2029-07-02      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                         | MH Sub I LLC 2023 Term Loan                                                    | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     62561 | PA      | $56751.04     | 0.09%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                         | MH Sub I LLC 2024 Term Loan B4                                                 | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |     52878 | PA      | $42196.38     | 0.07%             | 2031-12-31      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Informatica LLC                                      | Informatica LLC 2024 Term Loan B                                               | CUSIP: 45673YAL0<br>LEI: 5493007SV33RZV7RPS40 | Long             | LON              | CORP              | US        |    134942 | PA      | $135320.96    | 0.23%             | 2028-10-27      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Alterra Mountain Company                             | Alterra Mountain Company 2025 Term Loan B8                                     | CUSIP: 46124CAS6<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |     94289 | PA      | $94466.17     | 0.16%             | 2030-05-31      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| ION Platform Finance US Inc                          | ION Platform Finance US Inc USD Term Loan                                      | CUSIP: 46206RAC9<br>LEI: 213800FKHT3BRRKMCC89 | Long             | LON              | CORP              | US        |    295000 | PA      | $288625.05    | 0.48%             | 2032-10-07      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc                                    | Iron Mountain Inc 2023 Term Loan B                                             | CUSIP: 46284NAV1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | LON              |  | US        |     30000 | PA      | $29993.70     | 0.05%             | 2031-01-31      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| iShares 0-5 Year High Yield Corporate Bond ETF       | iShares 0-5 Year High Yield Corporate Bond ETF                                 | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             | EC               | RF                | US        |     20250 | NS      | $872370.00    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Broad USD High Yield Corporate Bond ETF      | iShares Broad USD High Yield Corporate Bond ETF                                | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |     18000 | NS      | $676440.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Heritage-Crystal Clean Inc                           | Heritage-Crystal Clean Inc Term Loan B                                         | CUSIP: 465966AB5<br>LEI: 254900KPFL42CYD2VY03 | Long             | LON              | CORP              | US        |     60165 | PA      | $60214.64     | 0.10%             | 2030-10-17      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                | Jane Street Group LLC 2024 Term Loan B1                                        | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    251120 | PA      | $248623.72    | 0.42%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| KKR Apple Bidco LLC                                  | KKR Apple Bidco LLC 2025 Term Loan                                             | CUSIP: 48254EAG6<br>LEI: 2549001SCJD3WEYJFM53 | Long             | LON              | CORP              | US        |    295606 | PA      | $296292.06    | 0.50%             | 2031-09-23      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Kaman Corporation                                    | Kaman Corporation 2025 Term Loan B                                             | CUSIP: 48354VAM4<br>LEI: 5493003YK076OLTEQF95 | Long             | LON              | CORP              | US        |     67258 | PA      | $67426.03     | 0.11%             | 2032-02-26      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Kaseya Inc                                           | Kaseya Inc 2025 1st Lien Term Loan B                                           | CUSIP: 48578AAB4<br>LEI: 254900MISXMLRZ63NH46 | Long             | LON              | CORP              | US        |    297542 | PA      | $297387.68    | 0.50%             | 2032-03-20      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| KUEHG Corp                                           | KUEHG Corp 2025 Term Loan                                                      | CUSIP: 50118YAH2<br>LEI: 549300YNT566T1NYJX62 | Long             | LON              | CORP              | US        |     27639 | PA      | $27530.77     | 0.05%             | 2030-06-12      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| LABL Inc                                             | LABL Inc 2021 USD 1st Lien Term Loan                                           | CUSIP: 50168EAN2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | LON              | CORP              | US        |    157457 | PA      | $118204.22    | 0.20%             | 2028-10-30      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| Les Schwab Tire Centers                              | Les Schwab Tire Centers 2025 Term Loan B                                       | CUSIP: 50220KAD6<br>LEI: 549300GJM1TKHPYFPF83 | Long             | LON              | CORP              | US        |    100116 | PA      | $99490.19     | 0.17%             | 2031-04-23      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| LSF12 Crown US Commercial Bidco LLC                  | LSF12 Crown US Commercial Bidco LLC 2025 Term Loan B                           | CUSIP: 50221UAD3<br>LEI: 254900FI2OCFTJ9PAJ18 | Long             | LON              | CORP              | US        |     66832 | PA      | $67187.38     | 0.11%             | 2031-12-02      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| Learning Care Group (US) No 2 Inc                    | Learning Care Group (US) No 2 Inc 2024 Term Loan B                             | CUSIP: 52200MAL4<br>LEI: 5493000VMN44LK8QID23 | Long             | LON              | CORP              | US        |      7841 | PA      | $7683.79      | 0.01%             | 2028-08-11      | Floating      | 8.23%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                                | Level 3 Financing Inc 2025 Repriced Term Loan B4                               | CUSIP: 52729KAU0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    396000 | PA      | $395307.00    | 0.66%             | 2032-03-29      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Live Nation Entertainment Inc                        | Live Nation Entertainment Inc 2025 Term Loan B                                 | CUSIP: 53803HAY6<br>LEI: 5493007B9BM9ZXJINO78 | Long             | LON              | CORP              | US        |    122000 | PA      | $121847.50    | 0.20%             | 2032-10-21      | Floating      | 6.02%                 | No            |                  3 | On Loan: No      |
| Lumen Technologies Inc                               | Lumen Technologies Inc 2024 Term Loan A                                        | CUSIP: 55024EAD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |      3075 | PA      | $3113.20      | 0.01%             | 2028-06-01      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                               | Lumen Technologies Inc 2024 Extended Term Loan B1                              | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    122505 | PA      | $121714.70    | 0.20%             | 2029-04-16      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies Inc                               | Lumen Technologies Inc 2024 Extended Term Loan B2                              | CUSIP: 55024EAG0<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |     93912 | PA      | $93325.52     | 0.16%             | 2030-04-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| M6 ETX Holdings II Midco LLC                         | M6 ETX Holdings II Midco LLC 2025 1st Lien Term Loan B                         | CUSIP: 55285DAJ0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     60898 | PA      | $60955.35     | 0.10%             | 2032-04-01      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| MKS Instruments Inc                                  | MKS Instruments Inc 2025 USD Repriced Term Loan                                | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |    216484 | PA      | $216601.29    | 0.36%             | 2029-08-17      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                      | Madison IAQ LLC Term Loan                                                      | CUSIP: 55759VAB4<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    150684 | PA      | $150872.74    | 0.25%             | 2028-06-21      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Madison IAQ LLC                                      | Madison IAQ LLC 2025 Term Loan B                                               | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    165585 | PA      | $166081.76    | 0.28%             | 2032-05-06      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| Madison Safety & Flow LLC                            | Madison Safety & Flow LLC 2025 1st Lien Term Loan B                            | CUSIP: 55822DAN1<br>LEI: 5493007D2J7BBIFYBY65 | Long             | LON              | CORP              | US        |     55459 | PA      | $55666.60     | 0.09%             | 2031-09-26      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Magenta Security Holdings LLC                        | Magenta Security Holdings LLC 2024 First Out Term Loan                         | CUSIP: 55909UAE9<br>LEI: 254900F51KU7HIRXTS68 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-07-27      | Floating      | 10.85%                | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                               | Mauser Packaging Solutions Holding Co                                          | CUSIP: 57763RAB3<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54744.84     | 0.09%             | 2026-08-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Company           | Mauser Packaging Solutions Holding Company 2024 Term Loan B                    | CUSIP: 57763TAE3<br>LEI: 549300DNGHXL0OMHW304 | Long             | LON              | CORP              | US        |     88598 | PA      | $88612.39     | 0.15%             | 2027-04-15      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| Mavis Tire Express Services Corp.                    | Mavis Tire Express Services Corp 2025 Repriced Term Loan                       | CUSIP: 57777YAG1<br>LEI: 254900NVDM4GTLBL9E56 | Long             | LON              | CORP              | US        |    296297 | PA      | $296747.75    | 0.50%             | 2028-05-04      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Amynta Agency Borrower Inc                           | Amynta Agency Borrower Inc 2025 Term Loan B                                    | CUSIP: 57810JAM0<br>LEI: 5493000GP6HBRVTWBO85 | Long             | LON              | CORP              | US        |    226389 | PA      | $226565.88    | 0.38%             | 2031-12-29      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| McAfee, LLC                                          | McAfee LLC 2024 USD 1st Lien Term Loan B                                       | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |    157644 | PA      | $149104.60    | 0.25%             | 2029-03-01      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Meade Pipeline CO LLC                                | Meade Pipeline CO LLC Term Loan B                                              | CUSIP: 58307PAB8<br>LEI: 254900UZE9CEDHUYSZ47 | Long             | LON              | CORP              | US        |     25000 | PA      | $25000.00     | 0.04%             | 2032-09-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Medical Solutions Holdings Inc                       | Medical Solutions Holdings Inc 2021 1st Lien Term Loan                         | CUSIP: 58462QAH4<br>LEI: 549300JH2XHZ7TIKYR39 | Long             | LON              | CORP              | US        |     29002 | PA      | $8773.20      | 0.01%             | 2028-11-01      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                  | Medline Borrower LP 2025 Term Loan B                                           | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    596704 | PA      | $597192.86    | 1.00%             | 2028-10-23      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                  | Medline Borrower LP 2025 Incremental Term Loan B                               | CUSIP: 58503UAJ2<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |     59912 | PA      | $59929.28     | 0.10%             | 2030-10-23      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                            | Gainwell Acquisition Corp Term Loan B                                          | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     71590 | PA      | $70873.81     | 0.12%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| Minerals Technologies Inc                            | Minerals Technologies Inc 2024 Term Loan B                                     | CUSIP: 60315GAH1<br>LEI: 549300D3I1QU67GP6403 | Long             | LON              | CORP              | US        |    122078 | PA      | $122077.50    | 0.20%             | 2031-11-26      | Floating      | 5.97%                 | No            |                  3 | On Loan: No      |
| Mitchell International, Inc.                         | Mitchell International Inc 2024 1st Lien Term Loan                             | CUSIP: 60662WAW2<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |    192600 | PA      | $192694.55    | 0.32%             | 2031-06-17      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Mitchell International Inc                           | Mitchell International Inc 2024 2nd Lien Term Loan                             | CUSIP: 60662WAZ5<br>LEI: 5493002RDNIGEM7SSV41 | Long             | LON              | CORP              | US        |     39000 | PA      | $37947.00     | 0.06%             | 2032-06-17      | Floating      | 9.21%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                     | Modena Buyer LLC Term Loan                                                     | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |     54388 | PA      | $53082.67     | 0.09%             | 2031-07-01      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Murphy USA Inc                                       | Murphy USA Inc Term Loan B                                                     | CUSIP: 62675KAB5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | LON              | CORP              | US        |     33000 | PA      | $33233.64     | 0.06%             | 2032-04-07      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| NEP Group Inc                                        | NEP Group Inc 2023 Term Loan B                                                 | CUSIP: 62908HAM7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2031-10-17      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| NEP Group Inc                                        | NEP Group Inc 2025 Term Loan B                                                 | CUSIP: 62908HAR6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     64000 | PA      | $61360.00     | 0.10%             | 2031-10-17      | Floating      | 8.54%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                       | NRG Energy Inc 2024 Term Loan                                                  | CUSIP: 62937NBC0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | LON              | CORP              | US        |    300846 | PA      | $301417.90    | 0.50%             | 2031-04-16      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                      | Naked Juice LLC 2025 FLFO Term Loan                                            | CUSIP: 62984CAK9<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |    136211 | PA      | $136949.58    | 0.23%             | 2029-01-24      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                      | Naked Juice LLC 2025 FLSO Term Loan                                            | CUSIP: 62984CAM5<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     50750 | PA      | $38316.44     | 0.06%             | 2029-01-24      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| Naked Juice LLC                                      | Naked Juice LLC 2025 FLTO Term Loan                                            | CUSIP: 62984CAN3<br>LEI: 549300Y5TU1XQ1KVLJ64 | Long             | LON              | CORP              | US        |     45600 | PA      | $19021.45     | 0.03%             | 2030-01-24      | Floating      | 10.10%                | No            |                  2 | On Loan: No      |
| Waystar Technologies, Inc.                           | Waystar Technologies Inc 2025 Term Loan B                                      | CUSIP: 63939WAN3<br>LEI: 549300BIRBTAWWHCSZ09 | Long             | LON              | CORP              | US        |     61421 | PA      | $61370.32     | 0.10%             | 2029-10-22      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC 2019 Term Loan B5                                             | CUSIP: 64072UAK8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    280997 | PA      | $264432.33    | 0.44%             | 2027-04-15      | Floating      | 8.50%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                     | CSC Holdings LLC 2022 Term Loan B6                                             | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     59810 | PA      | $59182.37     | 0.10%             | 2028-01-18      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| Gen Digital Inc                                      | Gen Digital Inc 2024 Term Loan B                                               | CUSIP: 66877AAF5<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |    298272 | PA      | $298051.59    | 0.50%             | 2029-09-12      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Gen Digital Inc                                      | Gen Digital Inc 2025 Term Loan B                                               | CUSIP: 66877AAG3<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | LON              | CORP              | US        |     91770 | PA      | $91569.02     | 0.15%             | 2032-04-16      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Novelis Corporation                                  | Novelis Corporation 2025 Term Loan B                                           | CUSIP: 67000LAB8<br>LEI: 549300ZJQN1PEAT42X90 | Long             | LON              | CORP              | US        |    237805 | PA      | $238311.52    | 0.40%             | 2032-03-11      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Olympus Water US Holding Corporation                 | Olympus Water US Holding Corporation 2024 USD Term Loan                        | CUSIP: 68163YAJ4<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    234721 | PA      | $232179.08    | 0.39%             | 2031-06-20      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WATER US HOLDING CORP                        | OLYMPUS WATER US HOLDING CORP 2025 USD TERM LOAN B                             | CUSIP: 68163YAK1<br>LEI: 549300YU2GGVCBN3MY89 | Long             | LON              | CORP              | US        |    142000 | PA      | $141290.00    | 0.24%             | 2032-07-23      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| OMNIA Partners LLC                                   | OMNIA Partners LLC 2024 Term Loan B                                            | CUSIP: 68218HAE7<br>LEI: 254900ZD1P5CVG9GOS22 | Long             | LON              | CORP              | US        |    104073 | PA      | $104073.28    | 0.17%             | 2030-07-25      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| OneDigital Borrower LLC                              | OneDigital Borrower LLC 2025 Repriced Term Loan                                | CUSIP: 68277FAN9<br>LEI: 2549009GTKWWAO1E9X77 | Long             | LON              | CORP              | US        |     20947 | PA      | $20938.17     | 0.04%             | 2031-07-02      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                       | 1261229 BC Ltd                                                                 | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    200000 | PA      | $209061.91    | 0.35%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Option Care Health Inc                               | Option Care Health Inc 2025 Term Loan B                                        | CUSIP: 68404YAD6<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | LON              | CORP              | US        |    143347 | PA      | $143586.85    | 0.24%             | 2032-09-22      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Organon & Co                                         | Organon & Co 2024 USD Term Loan                                                | CUSIP: 68621XAG8<br>LEI: 549300AMCKY57OK2CO56 | Long             | LON              | CORP              | US        |     49637 | PA      | $44750.82     | 0.07%             | 2031-05-19      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Orion US Finco Inc.                                  | Orion US Finco Inc 1st Lien Term Loan                                          | CUSIP: 68631KAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     90000 | PA      | $90394.20     | 0.15%             | 2032-10-08      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| Oryx Midstream Services Permian Basin LLC            | Oryx Midstream Services Permian Basin LLC 2025 Term Loan B                     | CUSIP: 68764JAJ0<br>LEI: 254900YYHRDANYFAHC43 | Long             | LON              | CORP              | US        |    164764 | PA      | $165073.73    | 0.28%             | 2028-10-05      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Advisor Group Inc                                    | Advisor Group Inc 2025 Term Loan                                               | CUSIP: 68773JAG5<br>LEI: 549300XL60BDV6UW5C86 | Long             | LON              | CORP              | US        |    188000 | PA      | $188235.00    | 0.31%             | 2032-07-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| PAI Holdco Inc                                       | PAI Holdco Inc 2020 Term Loan B                                                | CUSIP: 69315JAG8<br>LEI: 2549001NJ55NUV372F56 | Long             | LON              | CORP              | US        |     43729 | PA      | $36377.28     | 0.06%             | 2027-10-28      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Packers Holdings LLC                                 | Packers Holdings LLC 2021 Term Loan                                            | CUSIP: 69519UAF9<br>LEI: 549300X0L6OJNRPME518 | Long             | LON              | CORP              | US        |     35376 | PA      | $11497.19     | 0.02%             | 2028-03-09      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| Paint Intermediate III LLC                           | Paint Intermediate III LLC 2024 Term Loan B                                    | CUSIP: 69575EAL3<br>LEI: 549300C2JJM7BNZTR054 | Long             | LON              | CORP              | US        |     64675 | PA      | $64577.99     | 0.11%             | 2031-10-09      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| PENN Entertainment Inc                               | PENN Entertainment Inc 2022 Term Loan B                                        | CUSIP: 70757DAZ2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     90660 | PA      | $90767.95     | 0.15%             | 2029-05-03      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Peraton Corp                                         | Peraton Corp Term Loan B                                                       | CUSIP: 71360HAB3<br>LEI: 549300EQPCK07ZW63836 | Long             | LON              | CORP              | US        |    165307 | PA      | $142258.11    | 0.24%             | 2028-02-01      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Perrigo Investments, LLC                             | Perrigo Investments LLC 2024 Term Loan B                                       | CUSIP: 71429TAF7<br>LEI: 549300POZGC78VHAAJ73 | Long             | LON              | CORP              | US        |    105615 | PA      | $105702.36    | 0.18%             | 2029-04-20      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| PetSmart Inc                                         | PetSmart Inc 2021 Term Loan B                                                  | CUSIP: 71677HAL9<br>LEI: 894500NGJMHSFNESGA67 | Long             | LON              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2028-02-11      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| Parexel International Corporation                    | Parexel International Corporation 2025 Term Loan B                             | CUSIP: 71911KAE4<br>LEI: 254900PHGVI5379Z9791 | Long             | LON              | CORP              | US        |    197579 | PA      | $198063.36    | 0.33%             | 2028-11-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Pinnacle Buyer LLC                                   | Pinnacle Buyer LLC Term Loan                                                   | CUSIP: 72349UAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     81211 | PA      | $81515.84     | 0.14%             | 2032-10-01      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Planet US Buyer LLC                                  | Planet US Buyer LLC 2024 Term Loan B                                           | CUSIP: 72706RAB2<br>LEI: 254900ZE51SEX2EFFH74 | Long             | LON              | CORP              | US        |     46616 | PA      | $46820.08     | 0.08%             | 2031-02-07      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Planview Parent Inc                                  | Planview Parent Inc 2024 1st Lien Term Loan                                    | CUSIP: 72751PAJ3<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |     28713 | PA      | $27967.76     | 0.05%             | 2027-12-17      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Element Solutions Inc                                | Element Solutions Inc 2023 Term Loan B                                         | CUSIP: 72766TAH2<br>LEI: 549300FLGN6P5CU20J91 | Long             | LON              | CORP              | US        |    163091 | PA      | $163951.78    | 0.27%             | 2030-12-18      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Polaris Newco LLC                                    | Polaris Newco LLC USD Term Loan B                                              | CUSIP: 73108RAB4<br>LEI: 254900LEPDAG7EDOA064 | Long             | LON              | CORP              | US        |    144242 | PA      | $137751.50    | 0.23%             | 2028-06-02      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| Potters Industries, LLC                              | Potters Industries LLC 2025 Repriced Term Loan B                               | CUSIP: 73813HAF3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     58118 | PA      | $58278.16     | 0.10%             | 2027-12-14      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Pregis TopCo Corporation                             | Pregis TopCo Corporation 2025 Refinancing Term Loan                            | CUSIP: 74045BAG2<br>LEI: 549300LJXHJYHS1GM034 | Long             | LON              | CORP              | US        |     56113 | PA      | $56428.68     | 0.09%             | 2029-02-01      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Proampac PG Borrower LLC                             | Proampac PG Borrower LLC 2024 Term Loan                                        | CUSIP: 74274NAL7<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |     17954 | PA      | $17921.75     | 0.03%             | 2028-09-15      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding, Inc.             | Project Alpha Intermediate Holding Inc 2024 1st Lien Term Loan B               | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     58616 | PA      | $58589.86     | 0.10%             | 2030-10-26      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Project Boost Purchaser LLC                          | Project Boost Purchaser LLC 2025 Refinancing Term Loan                         | CUSIP: 74339NAG1<br>LEI: 254900SVSL94NTLSDY26 | Long             | LON              | CORP              | US        |    196440 | PA      | $195897.60    | 0.33%             | 2031-07-16      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                         | Cloudera Inc 2021 Term Loan                                                    | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |     52297 | PA      | $50073.93     | 0.08%             | 2028-10-08      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| Proofpoint, Inc.                                     | Proofpoint Inc 2024 Term Loan                                                  | CUSIP: 74345HAG6<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |    187317 | PA      | $187992.80    | 0.31%             | 2028-08-31      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| PROOFPOINT INC                                       | PROOFPOINT INC 2025 FUNGIBLE TERM LOAN                                         | CUSIP: 74345HAJ0<br>LEI: 529900C5FODDK0WSR085 | Long             | LON              | CORP              | US        |     32000 | PA      | $32115.52     | 0.05%             | 2028-08-31      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| PUG LLC                                              | PUG LLC 2024 Extended Term Loan B                                              | CUSIP: 74530DAH8<br>LEI: 549300NL9JUFIOARLW93 | Long             | LON              | CORP              | US        |    206719 | PA      | $206460.58    | 0.35%             | 2030-03-15      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                | QNITY ELECTRONICS INC TERM LOAN B                                              | CUSIP: 74737SAB9<br>LEI: 254900RSUG4J9TFFZX53 | Long             | LON              | CORP              | US        |    229000 | PA      | $228858.02    | 0.38%             | 2032-08-12      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Quartz Acquireco LLC                                 | Quartz Acquireco LLC 2025 Term Loan B                                          | CUSIP: 74773KAE5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     88999 | PA      | $88053.42     | 0.15%             | 2030-06-28      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                | Quikrete Holdings Inc 2024 Term Loan B1                                        | CUSIP: 74839XAK5<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    118845 | PA      | $118952.98    | 0.20%             | 2029-03-19      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                | Quikrete Holdings Inc 2025 Term Loan B                                         | CUSIP: 74839XAL3<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    108455 | PA      | $108551.52    | 0.18%             | 2032-02-10      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings Inc                                | Quikrete Holdings Inc 2025 Term Loan B1                                        | CUSIP: 74839XAM1<br>LEI: 5493007KIN86DIZWZT22 | Long             | LON              | CORP              | US        |    135734 | PA      | $135895.82    | 0.23%             | 2031-04-14      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| QuidelOrtho Corp                                     | QuidelOrtho Corp Term Loan                                                     | CUSIP: 74840YAH7<br>LEI: 549300YU8CMO9HF53113 | Long             | LON              | CORP              | US        |     68000 | PA      | $67511.08     | 0.11%             | 2032-08-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| RHP Hotel Properties LP                              | RHP Hotel Properties LP 2024 1st Lien Term Loan B                              | CUSIP: 74958NAL0<br>LEI: 549300SJMSMA2471GA96 | Long             | LON              |  | US        |     70701 | PA      | $70612.83     | 0.12%             | 2030-05-20      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Radiate Holdco LLC                                   | Radiate Holdco LLC 2025 FLFO Term Loan                                         | CUSIP: 75025KAM0<br>LEI: 5493000GQJ5RDX9DNJ71 | Long             | LON              | CORP              | US        |    190701 | PA      | $148508.68    | 0.25%             | 2029-09-25      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Rand Parent, LLC                                     | Rand Parent LLC 2025 Term Loan B                                               | CUSIP: 75223LAD8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    119453 | PA      | $116898.14    | 0.20%             | 2030-03-18      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Raven Acquisition Holdings LLC                       | Raven Acquisition Holdings LLC Term Loan B                                     | CUSIP: 75419XAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     81237 | PA      | $81229.27     | 0.14%             | 2031-11-19      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| RealPage Inc                                         | RealPage Inc 1st Lien Term Loan                                                | CUSIP: 75605VAD4<br>LEI: 5493001RSFZX4122A604 | Long             | LON              | CORP              | US        |    154010 | PA      | $153640.76    | 0.26%             | 2028-04-24      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| Legence Holdings LLC                                 | Legence Holdings LLC 2025 Term Loan B                                          | CUSIP: 75865HAK4<br>LEI: 2549003DYOLJRQR9G070 | Long             | LON              | CORP              | US        |     43915 | PA      | $43959.11     | 0.07%             | 2028-12-18      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Legence Holdings LLC                                 | Legence Holdings LLC 2025 Repriced Term Loan B                                 | CUSIP: 75865HAM0<br>LEI: 2549003DYOLJRQR9G070 | Long             | LON              | CORP              | US        |     11176 | PA      | $11186.74     | 0.02%             | 2031-12-16      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                 | LifePoint Health Inc 2024 1st Lien Term Loan B                                 | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |     99549 | PA      | $99519.87     | 0.17%             | 2031-05-19      | Floating      | 7.78%                 | No            |                  2 | On Loan: No      |
| Resideo Funding Inc                                  | Resideo Funding Inc 2025 Incremental Term Loan                                 | CUSIP: 76090LAM6<br>LEI: 5493000IFJ6XJKH66598 | Long             | LON              | CORP              | US        |     79000 | PA      | $78802.50     | 0.13%             | 2032-08-13      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware Inc                             | Restoration Hardware Inc Term Loan B                                           | CUSIP: 76133MAB7<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |     19394 | PA      | $18816.15     | 0.03%             | 2028-10-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Restoration Hardware Inc                             | Restoration Hardware Inc 2022 Incremental Term Loan                            | CUSIP: 76133MAC5<br>LEI: 549300H9H1H3OC7C3H47 | Long             | LON              | CORP              | US        |     19400 | PA      | $18927.22     | 0.03%             | 2028-10-20      | Floating      | 7.31%                 | No            |                  2 | On Loan: No      |
| Zurn Holdings Inc                                    | Zurn Holdings Inc 2021 Term Loan B                                             | CUSIP: 76168JAS5<br>LEI: 549300XLZXRC2KJ6VK87 | Long             | LON              | CORP              | US        |     20000 | PA      | $20064.20     | 0.03%             | 2028-10-04      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Reynolds Consumer Products LLC                       | Reynolds Consumer Products LLC 2025 Term Loan B                                | CUSIP: 76171JAE1<br>LEI: 549300DWNZYMOSR1X343 | Long             | LON              | CORP              | US        |     28938 | PA      | $28974.07     | 0.05%             | 2032-03-04      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Ring Container Technologies Group, LLC               | Ring Container Technologies Group LLC 2025 Term Loan B                         | CUSIP: 76680YAJ1<br>LEI: 254900MFUG4RPN6Y4A98 | Long             | LON              | CORP              | US        |     48000 | PA      | $48000.00     | 0.08%             | 2032-09-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Roper Industrial Products Investment Company LLC     | Roper Industrial Products Investment Company LLC 2024 USD 1st Lien Term Loan B | CUSIP: 77669LAK9<br>LEI: 254900RXO1EICEHOLG29 | Long             | LON              | CORP              | US        |     73856 | PA      | $74026.63     | 0.12%             | 2029-11-22      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                             | Ryan LLC Term Loan                                                             | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |      5910 | PA      | $5880.45      | 0.01%             | 2030-11-14      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Ryan Specialty Group LLC                             | Ryan Specialty Group LLC 2024 USD Term Loan B                                  | CUSIP: 78350UAJ4<br>LEI: 549300K52N7QBO3PYY45 | Long             | LON              | CORP              | US        |    206862 | PA      | $206948.40    | 0.35%             | 2031-09-15      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| SBA Senior Finance II LLC                            | SBA Senior Finance II LLC 2024 Term Loan B                                     | CUSIP: 78404XAJ4<br>LEI: 549300PVT2ADFWMYEW87 | Long             | LON              | CORP              | US        |    194967 | PA      | $195343.20    | 0.33%             | 2031-01-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                                | SS&C Technologies Inc 2024 Term Loan B8                                        | CUSIP: 78466DBJ2<br>LEI: 549300KY09TR3J12JU49 | Long             | LON              | CORP              | US        |    343419 | PA      | $344091.82    | 0.58%             | 2031-05-09      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| SPX Flow Inc                                         | SPX Flow Inc 2025 Term Loan                                                    | CUSIP: 78470DAW8<br>LEI: 5493003YXEKRBINIEM78 | Long             | LON              | CORP              | US        |    259614 | PA      | $260924.98    | 0.44%             | 2029-04-05      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| SeaWorld Parks & Entertainment Inc                   | SeaWorld Parks & Entertainment Inc 2024 Term Loan B3                           | CUSIP: 78488CAL4<br>LEI: 549300UZV72O3371JJ53 | Long             | LON              | CORP              | US        |     72696 | PA      | $72422.93     | 0.12%             | 2031-12-04      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Springs Windows Fashions LLC                         | Springs Windows Fashions LLC 2024 First Lien Second Out TL A2                  | CUSIP: 78489HAE8<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |     52954 | PA      | $41795.98     | 0.07%             | 2028-10-06      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| Springs Windows Fashions LLC                         | Springs Windows Fashions LLC 2024 FLFO A1 Term Loan                            | CUSIP: 78489HAG3<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | LON              | CORP              | US        |     16422 | PA      | $16356.79     | 0.03%             | 2029-12-19      | Floating      | 8.46%                 | No            |                  2 | On Loan: No      |
| SWF HOLDINGS I CORP                                  | SWF Holdings I Corp                                                            | CUSIP: 78500CAA2<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | DBT              | CORP              | US        |     29344 | PA      | $14085.12     | 0.02%             | 2029-10-06      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2021 Term Loan B2                                               | CUSIP: 78571YBF6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      6967 | PA      | $6595.74      | 0.01%             | 2027-12-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2021 Term Loan B1                                               | CUSIP: 78571YBG4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     21283 | PA      | $20147.69     | 0.03%             | 2027-12-17      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2022 1st Lien Term Loan B                                       | CUSIP: 78571YBJ8<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |      2155 | PA      | $1982.77      | 0.00%             | 2028-06-30      | Floating      | 9.06%                 | No            |                  2 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2024 Term Loan B1                                               | CUSIP: 78571YBK5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     82154 | PA      | $75992.45     | 0.13%             | 2029-11-15      | Floating      | 10.06%                | No            |                  3 | On Loan: No      |
| Sabre GLBL Inc                                       | Sabre GLBL Inc 2024 Term Loan B2                                               | CUSIP: 78571YBL3<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | LON              | CORP              | US        |     29655 | PA      | $27282.39     | 0.05%             | 2029-11-15      | Floating      | 10.06%                | No            |                  3 | On Loan: No      |
| SABRE GLBL INC                                       | Sabre GLBL Inc                                                                 | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56700.00     | 0.09%             | 2030-07-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Sazerac Company Inc                                  | Sazerac Company Inc Term Loan B                                                | CUSIP: 80583EAN6<br>LEI: 9QU0CG1O4LSOB6IFK895 | Long             | LON              | CORP              | US        |     73000 | PA      | $73330.69     | 0.12%             | 2032-07-09      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Light and Wonder International, Inc.                 | Light and Wonder International Inc 2024 Term Loan B2                           | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    200488 | PA      | $200676.12    | 0.34%             | 2029-04-14      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| Scientific Games Holdings LP                         | Scientific Games Holdings LP 2024 USD Term Loan B                              | CUSIP: 80875CAE7<br>LEI: 549300W5GPFXXB6TQ330 | Long             | LON              | CORP              | US        |     94012 | PA      | $92813.26     | 0.16%             | 2029-04-04      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services Inc              | Sedgwick Claims Management Services Inc 2023 Term Loan B                       | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    387743 | PA      | $387572.41    | 0.65%             | 2031-07-31      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                           | Sotera Health Holdings LLC 2025 Term Loan B                                    | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |    254724 | PA      | $255360.84    | 0.43%             | 2031-05-30      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Sparta US HoldCo LLC                                 | Sparta US HoldCo LLC 2024 Term Loan B                                          | CUSIP: 84673EAE9<br>LEI: 5493004EFF9NBQ1A8453 | Long             | LON              | CORP              | US        |    184842 | PA      | $177977.42    | 0.30%             | 2030-08-02      | Floating      | 7.13%                 | No            |                  2 | On Loan: No      |
| Standard Industries Inc                              | Standard Industries Inc 2021 Term Loan B                                       | CUSIP: 85350EAB2<br>LEI: 54930064UHXCIUWVI755 | Long             | LON              | CORP              | US        |     12817 | PA      | $12849.12     | 0.02%             | 2028-09-22      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                  | Station Casinos LLC 2024 Term Loan B                                           | CUSIP: 85769EBB6<br>LEI: 5493004E7Q60TX54WL62 | Long             | LON              | CORP              | US        |    217685 | PA      | $217722.01    | 0.36%             | 2031-03-14      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Stonepeak Nile Parent LLC                            | Stonepeak Nile Parent LLC 2025 Term Loan B                                     | CUSIP: 86184XAD6<br>LEI: 254900TJV3VAFZD0GU41 | Long             | LON              | CORP              | US        |     49000 | PA      | $48928.46     | 0.08%             | 2032-04-09      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Summit Acquisition Inc                               | Summit Acquisition Inc 2025 Add-on Term Loan                                   | CUSIP: 86600DAH7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      6000 | PA      | $5995.02      | 0.01%             | 2031-10-16      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings Inc                          | Surgery Center Holdings Inc 2025 Term Loan B                                   | CUSIP: 86880NBD4<br>LEI: 54930054EVI5HWPPW113 | Long             | LON              | CORP              | US        |    169063 | PA      | $169428.25    | 0.28%             | 2030-12-19      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Star Parent Inc                                      | Star Parent Inc Term Loan B                                                    | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |     78463 | PA      | $78568.31     | 0.13%             | 2030-09-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                              | Talen Energy Supply LLC 2024-1 Incremental Term Loan                           | CUSIP: 87422LAY6<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |     58558 | PA      | $58585.02     | 0.10%             | 2031-12-15      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                              | TALEN ENERGY SUPPLY LLC 2025 TERM LOAN B                                       | CUSIP: 87422LBA7<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |     73000 | PA      | $72939.41     | 0.12%             | 2032-10-11      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Team Health Holdings Inc                             | Team Health Holdings Inc 2025 Term Loan B                                      | CUSIP: 87817JAH1<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | LON              | CORP              | US        |     39900 | PA      | $39933.12     | 0.07%             | 2028-06-30      | Floating      | 8.34%                 | No            |                  2 | On Loan: No      |
| Somnigroup International Inc                         | Somnigroup International Inc Term Loan B                                       | CUSIP: 88025BAP6<br>LEI: 549300HFEKVR3US71V91 | Long             | LON              | CORP              | US        |     34833 | PA      | $34992.91     | 0.06%             | 2031-10-24      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                          | Tenneco Inc 2022 Term Loan B                                                   | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |    139000 | PA      | $136581.40    | 0.23%             | 2028-11-17      | Floating      | 9.30%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Company LLC                        | Vistra Operations Company LLC 1st Lien Term Loan B3                            | CUSIP: 88233FAK6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | LON              | CORP              | US        |    118728 | PA      | $118886.61    | 0.20%             | 2030-12-20      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                             | Cloud Software Group Inc 2025 Term Loan B (2031)                               | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    224706 | PA      | $224636.05    | 0.38%             | 2031-03-21      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group Inc                             | Cloud Software Group Inc 2025 Term Loan B (2032)                               | CUSIP: 88632NBL3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |    299545 | PA      | $299452.60    | 0.50%             | 2032-08-13      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                      | Trans Union LLC 2024 Term Loan B8                                              | CUSIP: 89334GBF0<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |    178405 | PA      | $178181.85    | 0.30%             | 2031-06-24      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Trans Union LLC                                      | Trans Union LLC 2024 Term Loan B9                                              | CUSIP: 89334GBG8<br>LEI: X8NPN6PWJOM1QCTYFV34 | Long             | LON              | CORP              | US        |    104077 | PA      | $103887.22    | 0.17%             | 2031-06-24      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2023 Term Loan J                                                 | CUSIP: 89364MCA0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    297435 | PA      | $297761.83    | 0.50%             | 2031-02-28      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2024 Term Loan L                                                 | CUSIP: 89364MCD4<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    161593 | PA      | $161682.20    | 0.27%             | 2032-01-19      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2025 Term Loan M                                                 | CUSIP: 89364MCE2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    182000 | PA      | $182040.04    | 0.30%             | 2032-08-19      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                        | TransDigm Inc 2025 Term Loan K                                                 | CUSIP: 89364MCF9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | LON              | CORP              | US        |    116523 | PA      | $116613.15    | 0.19%             | 2030-03-22      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Primo Brands Corporation                             | Primo Brands Corporation 2025 Term Loan B                                      | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    106803 | PA      | $107064.53    | 0.18%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| RealTruck Group Inc                                  | RealTruck Group Inc 2021 Term Loan B                                           | CUSIP: 89778PAG2<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |     14430 | PA      | $12620.77     | 0.02%             | 2028-01-31      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| RealTruck Group Inc                                  | RealTruck Group Inc 2023 Incremental Term Loan                                 | CUSIP: 89778PAH0<br>LEI: 54930007KT5CX7XNSD31 | Long             | LON              | CORP              | US        |     55230 | PA      | $48671.39     | 0.08%             | 2028-01-31      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| TruGreen Limited Partnership                         | TruGreen Limited Partnership 2020 Term Loan                                    | CUSIP: 89787RAH5<br>LEI: 549300QNRP2MNHR3QM19 | Long             | LON              | CORP              | US        |     29684 | PA      | $29044.49     | 0.05%             | 2027-11-02      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                        | Truist Insurance Holdings LLC 2nd Lien Term Loan                               | CUSIP: 89788VAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     29474 | PA      | $29834.73     | 0.05%             | 2032-05-06      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings LLC                        | Truist Insurance Holdings LLC 2024 Term Loan B                                 | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    238879 | PA      | $238451.44    | 0.40%             | 2031-05-06      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| UKG Inc                                              | UKG Inc 2024 Term Loan B                                                       | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |    386546 | PA      | $386275.84    | 0.65%             | 2031-02-10      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| X Corp.                                              | X Corp Term Loan                                                               | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    263696 | PA      | $256868.44    | 0.43%             | 2029-10-26      | Floating      | 10.34%                | No            |                  2 | On Loan: No      |
| X Corp.                                              | X Corp 2025 Fixed Term Loan                                                    | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     19000 | PA      | $19044.46     | 0.03%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| TKO Worldwide Holdings LLC                           | TKO Worldwide Holdings LLC 2025 Term Loan                                      | CUSIP: 90266UAL7<br>LEI: 549300JEOTH7UMZ3C491 | Long             | LON              | CORP              | US        |    301958 | PA      | $302568.17    | 0.51%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| LEARFIELD COMMUNICATIONS LLC                         | LEARFIELD COMMUNICATIONS LLC                                                   | CUSIP: 000000000<br>LEI: 549300177GK4LMS8T214 | Long             | EC               | CORP              | US        |       312 | NS      | $32760.00     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Axalta Coating Systems U.S. Holdings, Inc.           | Axalta Coating Systems US Holdings Inc 2024 Term Loan B7                       | CUSIP: 90347BAP3<br>LEI: 549300NZ43V4QV4UGN28 | Long             | LON              | CORP              | US        |    200597 | PA      | $200789.14    | 0.34%             | 2029-12-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| US Foods Inc                                         | US Foods Inc 2024 1st Lien Term Loan B                                         | CUSIP: 90351HAG3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | LON              | CORP              | US        |    160785 | PA      | $161941.04    | 0.27%             | 2031-10-03      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| USI Inc                                              | USI Inc 2024 Term Loan C                                                       | CUSIP: 90351NAQ8<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    192992 | PA      | $193073.56    | 0.32%             | 2030-09-29      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| USI Inc                                              | USI Inc 2024 Term Loan D                                                       | CUSIP: 90351NAR6<br>LEI: 2549006D7UF7072T7I27 | Long             | LON              | CORP              | US        |    229511 | PA      | $229740.51    | 0.38%             | 2029-11-21      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| United Airlines Inc                                  | United Airlines Inc 2024 1st Lien Term Loan B                                  | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |    107593 | PA      | $107746.54    | 0.18%             | 2031-02-22      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| PG Investment Company 59 Sa rl                       | PG Investment Company 59 Sa rl Term Loan B                                     | CUSIP: 91728NAB5<br>LEI: 254900XMCCB3IEZ2A005 | Long             | LON              | CORP              | LU        |     59550 | PA      | $59728.65     | 0.10%             | 2031-03-26      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| UTZ Quality Foods LLC                                | UTZ Quality Foods LLC 2025 Term Loan B                                         | CUSIP: 91809EAG6<br>LEI: 549300K2HU2ISL0R2Q75 | Long             | LON              | CORP              | US        |    116788 | PA      | $116628.22    | 0.19%             | 2032-01-29      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| VS Buyer LLC                                         | VS Buyer LLC 2025 Term Loan B                                                  | CUSIP: 91834WAG5<br>LEI: 254900G5QLDMHSCYJK25 | Long             | LON              | CORP              | US        |    286509 | PA      | $283644.09    | 0.47%             | 2031-04-12      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                             | Vertiv Group Corp                                                              | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24628.86     | 0.04%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Vertiv Group Corporation                             | Vertiv Group Corporation 2025 Term Loan                                        | CUSIP: 92537EAG3<br>LEI: 549300ZT8RQ5VK10E643 | Long             | LON              | CORP              | US        |    278441 | PA      | $278900.84    | 0.47%             | 2032-08-12      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Vizient Inc                                          | Vizient Inc 2024 Term Loan B                                                   | CUSIP: 92855LAR7<br>LEI: 5493007V6T3HZ7777P70 | Long             | LON              | CORP              | US        |     95834 | PA      | $95873.89     | 0.16%             | 2031-08-01      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Voyager Parent LLC                                   | Voyager Parent LLC Term Loan B                                                 | CUSIP: 92921HAC9<br>LEI: 2549002DYVI4ACSV4V71 | Long             | LON              | CORP              | US        |    110000 | PA      | $109876.80    | 0.18%             | 2032-07-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| WMG Acquisition Corp                                 | WMG Acquisition Corp 2024 Term Loan J                                          | CUSIP: 92929LBA5<br>LEI: 549300NAS11NXI33CP80 | Long             | LON              | CORP              | US        |    141000 | PA      | $140929.50    | 0.24%             | 2031-01-24      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                             | Boost Newco Borrower LLC 2025 USD Term Loan B2                                 | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    129385 | PA      | $129668.17    | 0.22%             | 2031-01-31      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                 | WR Grace Holdings LLC                                                          | CUSIP: 92943GAA9<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91503.97     | 0.15%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| WR Grace & Co-Conn                                   | WR Grace & Co-Conn 2025 Term Loan B                                            | CUSIP: 92943HAD1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | LON              | CORP              | US        |     74000 | PA      | $73514.56     | 0.12%             | 2032-08-19      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| WEC US Holdings Ltd                                  | WEC US Holdings Ltd 2024 Term Loan                                             | CUSIP: 92943LAC4<br>LEI: 5493002M6GRSU1IWMG57 | Long             | LON              | CORP              | US        |    172285 | PA      | $172646.98    | 0.29%             | 2031-01-27      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| LUXCO3 SHARES                                        | LUXCO3 SHARES                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       623 | NS      | $10314.80     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wand NewCo 3 Inc                                     | Wand NewCo 3 Inc 2025 Repriced Term Loan B                                     | CUSIP: 93369PAM6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | LON              | CORP              | US        |    178544 | PA      | $178017.57    | 0.30%             | 2031-01-30      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Ola Singapore PTE, LTD.                              | Ola Singapore PTE, LTD. Term Loan                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |     38002 | PA      | $37716.55     | 0.06%             | 2026-12-15      | Floating      | 10.31%                | No            |                  2 | On Loan: No      |
| Element Materials Technology Group US Holdings Inc   | Element Materials Technology Group US Holdings Inc 2022 USD Term Loan          | CUSIP: 000000000<br>LEI: 213800EGOJGGUKUGEZ30 | Long             | LON              | CORP              | US        |     58350 | PA      | $58678.51     | 0.10%             | 2029-07-06      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| HEARTHSIDE EQUITY                                    | HEARTHSIDE EQUITY                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       276 | NS      | $4467.89      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AIMBRIDGE                                            | AIMBRIDGE                                                                      | CUSIP: 000000000<br>LEI: 549300SPGKLVE9WYCQ20 | Long             | EC               | CORP              | US        |       459 | NS      | $29605.50     | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| VERITAS SERIES G 1 PREFERRED                         | VERITAS SERIES G 1 PREFERRED                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |        76 | NS      | $1786.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WEX Inc                                              | WEX Inc 2024 Term Loan B2                                                      | CUSIP: 96208UAW1<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     29774 | PA      | $29672.01     | 0.05%             | 2028-03-31      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| WEX Inc                                              | WEX Inc 2025 Incremental Term Loan B                                           | CUSIP: 96208UAX9<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | LON              | CORP              | US        |     59700 | PA      | $59476.13     | 0.10%             | 2032-03-05      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Whatabrands LLC                                      | Whatabrands LLC 2024 1st Lien Term Loan B                                      | CUSIP: 96244UAJ6<br>LEI: 254900HMMX4HTWIP0085 | Long             | LON              | CORP              | US        |     73441 | PA      | $73572.75     | 0.12%             | 2028-08-03      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                                  | BlackRock Cash Funds: Institutional, SL Agency Shares                          | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    685862 | NS      | $686205.40    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WHITE CAP BUYER LLC                                  | White Cap Buyer LLC                                                            | CUSIP: 96350RAA2<br>LEI: 254900L2N0T6GULCL366 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25000.24     | 0.04%             | 2028-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| White Cap Buyer LLC                                  | White Cap Buyer LLC 2024 Term Loan B                                           | CUSIP: 96350TAH3<br>LEI: 254900L2N0T6GULCL366 | Long             | LON              | CORP              | US        |    374045 | PA      | $374748.40    | 0.63%             | 2029-10-19      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| VERITAS SERIES G PREFERRED STO                       | VERITAS SERIES G PREFERRED STO                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |       111 | NS      | $2608.50      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Wilsonart LLC                                        | Wilsonart LLC 2024 Term Loan B                                                 | CUSIP: 97246FAM8<br>LEI: 549300SAZRUMYKDJBY14 | Long             | LON              | CORP              | US        |    286273 | PA      | $276407.70    | 0.46%             | 2031-08-05      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| Windstream Services LLC                              | Windstream Services LLC 2025 Term Loan B                                       | CUSIP: 97381JAK9<br>LEI: 549300KT9GVEBYCD2N29 | Long             | LON              | CORP              | US        |    118000 | PA      | $116525.00    | 0.19%             | 2032-10-06      | Floating      | 7.96%                 | No            |                  3 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES       | BlackRock Cash Funds: Treasury, SL Agency Shares                               | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   6580000 | NS      | $6580000.00   | 11.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                         | Wyndham Hotels & Resorts Inc 2024 Term Loan                                    | CUSIP: 98310CAF9<br>LEI: 549300FE3MQ4RVXXC673 | Long             | LON              | CORP              | US        |    110378 | PA      | $110570.96    | 0.18%             | 2030-05-24      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| X.AI Corp                                            | XAI Corp Term Loan                                                             | CUSIP: 98402XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     93765 | PA      | $91253.04     | 0.15%             | 2030-06-28      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| Zayo Group Holdings Inc                              | Zayo Group Holdings Inc 2025 USD Term Loan                                     | CUSIP: 98919XAH4<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | LON              | CORP              | US        |    318710 | PA      | $304269.56    | 0.51%             | 2030-03-11      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| AllSpring Buyer LLC                                  | AllSpring Buyer LLC 2024 Term Loan B                                           | CUSIP: 98922AAE6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     24937 | PA      | $24974.75     | 0.04%             | 2030-11-01      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| Zelis Payments Buyer Inc                             | Zelis Payments Buyer Inc Term Loan B                                           | CUSIP: 98932TAG8<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |    108611 | PA      | $106821.17    | 0.18%             | 2029-09-28      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Zelis Payments Buyer Inc                             | Zelis Payments Buyer Inc 5th Amendment Term Loan                               | CUSIP: 98932TAH6<br>LEI: 549300U8NGLZN5R1Y309 | Long             | LON              | CORP              | US        |    216365 | PA      | $214235.97    | 0.36%             | 2031-11-26      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| INNIO Group Holding GmbH                             | INNIO Group Holding GmbH 2025 Term Loan B2                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | AT        |     74000 | PA      | $74000.00     | 0.12%             | 2028-11-02      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Telenet Financing USD LLC                            | Telenet Financing USD LLC 2020 USD Term Loan AR                                | CUSIP: 000000000<br>LEI: 213800BMPOX34U6DWN81 | Long             | LON              | CORP              | US        |     30000 | PA      | $29844.60     | 0.05%             | 2028-04-30      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| DK Crown Holdings Inc                                | DK Crown Holdings Inc 2025 Term Loan B                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    179100 | PA      | $178204.50    | 0.30%             | 2032-03-04      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| H-Food Holdings LLC                                  | H-Food Holdings LLC 2025 Exit Term Loan                                        | CUSIP: 000000000<br>LEI: 549300JY2LK0EQ95YT44 | Long             | LON              | CORP              | US        |      4470 | PA      | $4513.17      | 0.01%             | 2030-03-29      | Floating      | 10.34%                | No            |                  2 | On Loan: No      |
| Whitewater Matterhorn Holdings LLC                   | Whitewater Matterhorn Holdings LLC 2025 Term Loan B                            | CUSIP: 000000000<br>LEI: 2138009J7G187M6C4Q91 | Long             | LON              | CORP              | US        |     16000 | PA      | $16002.56     | 0.03%             | 2032-06-16      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments LLC                                  | Shift4 Payments LLC 2025 Term Loan                                             | CUSIP: 000000000<br>LEI: 254900GTEMR7L40VPI74 | Long             | LON              | CORP              | US        |     54000 | PA      | $54292.68     | 0.09%             | 2032-06-30      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Herc Holdings Inc                                    | Herc Holdings Inc Term Loan B                                                  | CUSIP: 000000000<br>LEI: 549300TP80QLITMSBP82 | Long             | LON              | CORP              | US        |     27000 | PA      | $27089.91     | 0.05%             | 2032-06-02      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Propulsion (BC) Finco S.a.r.l.                       | Propulsion (BC) Finco Sarl 2025 Term Loan B                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     14775 | PA      | $14820.02     | 0.02%             | 2029-09-14      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| SANMINA CORP                                         | SANMINA CORP TERM LOAN B                                                       | CUSIP: 000000000<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | LON              | CORP              | US        |     90000 | PA      | $90000.00     | 0.15%             | 2032-08-06      | Floating      | 5.99%                 | No            |                  3 | On Loan: No      |
| Stakeholder Midstream LLC                            | Stakeholder Midstream LLC Term Loan                                            | CUSIP: 000000000<br>LEI: 254900BG1PE2KGG26017 | Long             | LON              | CORP              | US        |     60000 | PA      | $60525.00     | 0.10%             | 2031-01-01      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| TURQUOISE TOPCO LTD                                  | TURQUOISE TOPCO LTD TERM LOAN B                                                | CUSIP: 000000000<br>LEI: 254900RI25V4FBT02P38 | Long             | LON              | CORP              | US        |     69000 | PA      | $67965.00     | 0.11%             | 2032-07-31      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Pinnacle Buyer LLC                                   | Pinnacle Buyer LLC Delayed Draw Term Loan                                      | CUSIP: 72349UAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     15618 | PA      | $15676.13     | 0.03%             | 2032-10-01      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Outfront Media Capital LLC                           | Outfront Media Capital LLC 2025 Term Loan B                                    | CUSIP: 000000000<br>LEI: 5493005WC7J0FDMW0610 | Long             | LON              | CORP              | US        |     68000 | PA      | $67936.08     | 0.11%             | 2032-09-24      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| ACP TARA HOLDINGS INC                                | ACP TARA HOLDINGS INC 2025 TERM LOAN B                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     20000 | PA      | $20050.00     | 0.03%             | 2032-09-17      | Floating      | 7.23%                 | No            |                  3 | On Loan: No      |
| Weber-Stephen Products LLC                           | Weber-Stephen Products LLC 2025 Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300XU8TJBBGLK8V26 | Long             | LON              | CORP              | US        |    132000 | PA      | $131560.44    | 0.22%             | 2032-10-01      | Floating      | 7.74%                 | No            |                  2 | On Loan: No      |
| Solstice Advanced Materials Inc                      | Solstice Advanced Materials Inc Term Loan B                                    | CUSIP: 83443PAC9<br>LEI: 2138004GZ4H9TW6HK435 | Long             | LON              | CORP              | US        |     79000 | PA      | $79082.16     | 0.13%             | 2032-09-17      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| SPECTRIS PLC                                         | SPECTRIS PLC USD TERM LOAN                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     23000 | PA      | $23028.75     | 0.04%             | 2032-09-30      | Floating      | 6.71%                 | No            |                  3 | On Loan: No      |
| LAVENDER DUTCH BORROWERCO BV                         | LAVENDER DUTCH BORROWERCO BV USD TERM LOAN                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     79000 | PA      | $79000.00     | 0.13%             | 2032-09-27      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Altice France SA                                     | Altice France SA 2025 USD Term Loan B14                                        | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | US        |    106142 | PA      | $105838.41    | 0.18%             | 2031-05-31      | Floating      | 10.86%                | No            |                  2 | On Loan: No      |
| CP Iris HoldCo I Inc                                 | CP Iris HoldCo I Inc 2025 Delayed Draw Term Loan                               | CUSIP: 000000000<br>LEI: 25490024F0AS5UR7DB02 | Long             | LON              | CORP              | US        |     15106 | PA      | $14974.05     | 0.03%             | 2032-10-27      | Floating      | 7.98%                 | No            |                  2 | On Loan: No      |
| CP Iris HoldCo I Inc                                 | CP Iris HoldCo I Inc 2025 Term Loan                                            | CUSIP: 000000000<br>LEI: 25490024F0AS5UR7DB02 | Long             | LON              | CORP              | US        |    122360 | PA      | $121289.43    | 0.20%             | 2032-10-27      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |    500000 | OU      | $11587.29     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |    500000 | OU      | $11297.89     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                   | TRSWAP: IBXXLLTR INDEX                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |   2000000 | OU      | $-2902.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Air Canada                                           | Air Canada 2024 Term Loan B                                                    | CUSIP: 000000000<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | LON              | CORP              | CA        |    141945 | PA      | $142015.75    | 0.24%             | 2031-03-21      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                            | Bausch & Lomb Corporation 2023 Incremental Term Loan                           | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |     88495 | PA      | $88661.85     | 0.15%             | 2028-09-29      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Bausch & Lomb Corporation                            | Bausch & Lomb Corporation 2025 Term Loan B                                     | CUSIP: 000000000<br>LEI: 549300NY6OZM39SO6475 | Long             | LON              | CORP              | CA        |    177472 | PA      | $178403.32    | 0.30%             | 2031-01-15      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Celestica Inc                                        | Celestica Inc 2024 Term Loan B                                                 | CUSIP: 000000000<br>LEI: 549300J3CG5T6RZWLN53 | Long             | LON              | CORP              | CA        |     68887 | PA      | $69145.58     | 0.12%             | 2031-06-20      | Floating      | 5.74%                 | No            |                  3 | On Loan: No      |
| Garda World Security Corporation                     | Garda World Security Corporation 2025 Term Loan B                              | CUSIP: 000000000<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | LON              | CORP              | CA        |    180282 | PA      | $180132.76    | 0.30%             | 2029-02-01      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| Great Canadian Gaming Corporation                    | Great Canadian Gaming Corporation 2024 Term Loan B                             | CUSIP: 000000000<br>LEI: 549300FU60SSFLTE0M84 | Long             | LON              | CORP              | CA        |     75564 | PA      | $74997.11     | 0.13%             | 2029-11-01      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Jones DesLauriers Insurance Management Inc.          | Jones DesLauriers Insurance Management Inc 2025 Term Loan B                    | CUSIP: 000000000<br>LEI: 549300JQIWNFU00E5424 | Long             | LON              | CORP              | CA        |     98829 | PA      | $98643.87     | 0.16%             | 2030-03-15      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| 1011778 BC Unlimited Liability Company               | 1011778 BC Unlimited Liability Company 2024 Term Loan B6                       | CUSIP: 000000000<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | CA        |    121792 | PA      | $121356.78    | 0.20%             | 2030-09-20      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Ontario Gaming GTA LP                                | Ontario Gaming GTA LP Term Loan B                                              | CUSIP: 000000000<br>LEI: 894500EC9KLZLOC3V025 | Long             | LON              | CORP              | CA        |     44835 | PA      | $41939.83     | 0.07%             | 2030-08-01      | Floating      | 8.24%                 | No            |                  2 | On Loan: No      |
| PointClickCare Technologies, Inc.                    | PointClickCare Technologies Inc 2025 Term Loan B                               | CUSIP: 000000000<br>LEI: 5493001Z0LHHBZLVDX36 | Long             | LON              | CORP              | CA        |     73389 | PA      | $73480.49     | 0.12%             | 2031-11-03      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                    | Clarios Global LP 2024 USD Term Loan B                                         | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    325332 | PA      | $325129.85    | 0.54%             | 2030-05-06      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                    | Clarios Global LP 2025 USD Term Loan B                                         | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    150000 | PA      | $150328.50    | 0.25%             | 2032-01-28      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Titan Acquisition Limited                            | Titan Acquisition Limited 2024 Term Loan B                                     | CUSIP: 000000000<br>LEI: 5493003ZDHRVP2N4C109 | Long             | LON              | CORP              | CA        |    322878 | PA      | $323633.94    | 0.54%             | 2029-02-15      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| Oxea Holding Drei GmbH                               | Oxea Holding Drei GmbH 2017 USD Term Loan B2                                   | CUSIP: 000000000<br>LEI: 529900MSP24R2FE9U796 | Long             | LON              | CORP              | US        |     55449 | PA      | $49321.63     | 0.08%             | 2031-04-08      | Floating      | 8.29%                 | No            |                  2 | On Loan: No      |
| Speedster Bidco GmbH                                 | Speedster Bidco GmbH 2024 USD Term Loan B                                      | CUSIP: 000000000<br>LEI: 254900LE837QB2YYV824 | Long             | LON              | CORP              | DE        |    177707 | PA      | $177928.75    | 0.30%             | 2031-12-10      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                               | TK Elevator Midco GmbH 2025 USD Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300C2AFWPAYWS5574 | Long             | LON              | CORP              | US        |    362941 | PA      | $364984.32    | 0.61%             | 2030-04-30      | Floating      | 7.20%                 | No            |                  2 | On Loan: No      |
| Apex Group Treasury LLC                              | Apex Group Treasury LLC 2025 USD Term Loan B                                   | CUSIP: 000000000<br>LEI: 254900N6HRPDDNW7HP03 | Long             | LON              | CORP              | US        |    151381 | PA      | $141351.92    | 0.24%             | 2032-02-27      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Limited                | Digicel International Finance Limited 2025 Term Loan B                         | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | BM        |     53000 | PA      | $52019.50     | 0.09%             | 2032-08-06      | Floating      | 9.49%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                               | Froneri Lux Finco Sarl 2024 USD Term Loan B4                                   | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |    254992 | PA      | $252875.24    | 0.42%             | 2031-09-30      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                               | Froneri Lux Finco Sarl 2025 USD Term Loan                                      | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | US        |     39000 | PA      | $38971.14     | 0.07%             | 2032-08-02      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| Howden Group Holdings Ltd                            | Howden Group Holdings Ltd 2024 USD Term Loan B                                 | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |     16913 | PA      | $16980.24     | 0.03%             | 2030-04-18      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Howden Group Holdings Ltd                            | Howden Group Holdings Ltd 2025 USD Term Loan B                                 | CUSIP: 000000000<br>LEI: 213800R6D9EVRN5D3117 | Long             | LON              | CORP              | LU        |    215230 | PA      | $215520.95    | 0.36%             | 2031-02-15      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Ineos US Finance LLC                                 | Ineos US Finance LLC 2023 USD Term Loan B                                      | CUSIP: 000000000<br>LEI: 5493008MHJ4R367SNK31 | Long             | LON              | CORP              | US        |     54538 | PA      | $46732.65     | 0.08%             | 2030-02-18      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Holdings UK Ltd                        | INEOS Quattro Holdings UK Ltd 2024 USD Term Loan B                             | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | US        |     44775 | PA      | $35808.81     | 0.06%             | 2031-10-07      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Jazz Financing Lux Sarl                              | Jazz Financing Lux Sarl 2024 1st Lien Term Loan B2                             | CUSIP: 000000000<br>LEI: 635400WUEO2NSG5OIU34 | Long             | LON              | CORP              | LU        |    161160 | PA      | $161472.38    | 0.27%             | 2028-05-05      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corporation                          | JetBlue Airways Corporation 2024 Term Loan B                                   | CUSIP: 000000000<br>LEI: 54930070J9H97ZO93T57 | Long             | LON              | CORP              | US        |    102232 | PA      | $96966.72     | 0.16%             | 2029-08-27      | Floating      | 8.75%                 | No            |                  2 | On Loan: No      |
| Nomad Foods US LLC                                   | Nomad Foods US LLC 2023 Term Loan B5                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      3907 | PA      | $3902.24      | 0.01%             | 2029-11-12      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Setanta Aircraft Leasing Designated Activity Company | Setanta Aircraft Leasing Designated Activity Company 2024 Term Loan B          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | IE        |     10500 | PA      | $10535.49     | 0.02%             | 2028-11-05      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Vortex Opco LLC                                      | Vortex Opco LLC Second Out Term Loan                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | KY        |     42712 | PA      | $7332.38      | 0.01%             | 2028-12-17      | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                             | Virgin Media Bristol LLC 2020 USD Term Loan Q                                  | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |     24000 | PA      | $23945.04     | 0.04%             | 2029-01-31      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| Altice Financing SA                                  | Altice Financing SA USD 2017 1st Lien Term Loan                                | CUSIP: 000000000<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | LON              | CORP              | LU        |     38635 | PA      | $37282.90     | 0.06%             | 2026-01-31      | Floating      | 8.75%                 | No            |                  3 | On Loan: No      |
| Cobham Ultra SeniorCo Sarl                           | Cobham Ultra SeniorCo Sarl USD Term Loan B                                     | CUSIP: 000000000<br>LEI: 254900L6IKLPZKIC4F32 | Long             | LON              | CORP              | LU        |    152484 | PA      | $152837.27    | 0.26%             | 2029-08-03      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Camelot US Acquisition LLC                           | Camelot US Acquisition LLC 2024 Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300U6VBJHQP2SFL81 | Long             | LON              | CORP              | US        |     77123 | PA      | $75628.67     | 0.13%             | 2031-01-31      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Delta 2 (LUX) S.a.r.l.                               | Delta 2 (LUX) Sarl 2024 Term Loan B1                                           | CUSIP: 000000000<br>LEI: 549300BBG8Z3D6QSYP53 | Long             | LON              | CORP              | LU        |    292710 | PA      | $292800.65    | 0.49%             | 2031-09-30      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Lonza Group AG                                       | Lonza Group AG USD Term Loan B                                                 | CUSIP: 000000000<br>LEI: 549300Y0CIXN5D40L888 | Long             | LON              | CORP              | US        |    142670 | PA      | $126495.68    | 0.21%             | 2028-07-03      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| ICON Luxembourg SARL                                 | ICON Luxembourg SARL 2024 LUX Term Loan B                                      | CUSIP: 000000000<br>LEI: 635400PUWMHSPI2DDA35 | Long             | LON              | CORP              | LU        |     24285 | PA      | $24385.32     | 0.04%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| PRA Health Sciences Inc                              | PRA Health Sciences Inc 2024 US Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300R1HR1VWWHIAK47 | Long             | LON              | CORP              | US        |      6051 | PA      | $6075.60      | 0.01%             | 2028-07-03      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Motion Finco Sarl                                    | Motion Finco Sarl 2024 USD Term Loan B                                         | CUSIP: 000000000<br>LEI: 2549002L1LBQZKA7UN30 | Long             | LON              | CORP              | LU        |    184706 | PA      | $159473.09    | 0.27%             | 2029-11-12      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                           | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |     26864 | PA      | $25364.16     | 0.04%             | 2029-02-15      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| EG America LLC                                       | EG America LLC 2025 USD Repriced Term Loan                                     | CUSIP: 000000000<br>LEI: 549300BY1CRYVPEG9R57 | Long             | LON              | CORP              | US        |     30691 | PA      | $30850.48     | 0.05%             | 2028-02-07      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                 | Flutter Financing BV 2024 Term Loan B                                          | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    271415 | PA      | $269921.81    | 0.45%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Flutter Financing BV                                 | Flutter Financing BV 2025 Term Loan B                                          | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |     91708 | PA      | $91134.33     | 0.15%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                  | Peer Holding III BV 2025 USD Term Loan B                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     21000 | PA      | $21000.00     | 0.04%             | 2032-09-29      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Hunter Douglas Inc.                                  | Hunter Douglas Inc 2025 USD Term Loan B                                        | CUSIP: 000000000<br>LEI: 529900811T142NS3H544 | Long             | LON              | CORP              | US        |    198344 | PA      | $198555.77    | 0.33%             | 2032-01-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| Nouryon Finance BV                                   | Nouryon Finance BV 2024 USD Term Loan B1                                       | CUSIP: 000000000<br>LEI: 549300GD4NJGLPVYB245 | Long             | LON              | CORP              | NL        |     71142 | PA      | $70964.15     | 0.12%             | 2028-04-03      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Sunrise Financing Partnership                        | Sunrise Financing Partnership Term Loan AAA1                                   | CUSIP: 000000000<br>LEI: 213800DXWIS9KORQ3X94 | Long             | LON              | CORP              | US        |     40000 | PA      | $39900.00     | 0.07%             | 2032-02-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Ziggo Financing Partnership                          | Ziggo Financing Partnership USD Term Loan I                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      9113 | PA      | $9098.74      | 0.02%             | 2028-04-30      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| Ardonagh Midco 3 PLC                                 | Ardonagh Midco 3 PLC 2024 USD Term Loan B                                      | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |    208976 | PA      | $208192.59    | 0.35%             | 2031-02-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                      | SWAP/CDSWAP/ICE: (CDX.NA.HY.43.V1)                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    600000 | OU      | $47188.86     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer