# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-071876
**Filing Date:** 2023-3
**Character Count:** 158193
**Document Hash:** 376e68ac4cbd44f0ccaa6f6de88b5190
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071876.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071876

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663
- **IRS NUMBER:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 23774003

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Corporate Bonds & Notes** |  |  |
| **Advertising — 1.4%** |  |  |
| Clear Channel Outdoor Holdings Inc., 5.13%, 08/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/15/23)<sup>(a)</sup> | $150 | $136638 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 08/15/27 (Call 08/15/23)<sup>(a)(b)</sup> | 75 | 69425 |
| Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/23)<sup>(a)</sup> | 121 | 94602 |
|  |  | 300665 |
| **Aerospace & Defense — 3.8%** |  |  |
| Bombardier Inc., 7.88%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 225 | 224998 |
| Howmet Aerospace Inc., 5.90%, 02/01/27 | 75 | 76294 |
| Moog Inc., 4.25%, 12/15/27 (Call 12/15/23)<sup>(a)</sup> | 60 | 55650 |
| Rolls-Royce PLC, 5.75%, 10/15/27 (Call 07/15/27)<sup>(a)</sup> | 120 | 116714 |
| TransDigm Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 11/15/27 (Call 11/15/23) | 312 | 297954 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 03/15/27 (Call 03/15/23) | 65 | 65497 |
|  |  | 837107 |
| **Agriculture — 0.3%** |  |  |
| Darling Ingredients Inc., 5.25%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 59 | 57533 |
| **Airlines — 0.6%** |  |  |
| Allegiant Travel Co., 7.25%, 08/15/27 (Call 08/15/24)<sup>(a)</sup> | 65 | 63636 |
| American Airlines Pass Through Trust, Series 2015-1, Class A, 3.38%, 11/01/28<sup>(b)</sup> | 70 | 60346 |
|  |  | 123982 |
| **Apparel — 0.3%** |  |  |
| William Carter Co. (The), 5.63%, 03/15/27 (Call 03/15/23)<sup>(a)</sup> | 60 | 58543 |
| **Auto Manufacturers — 3.4%** |  |  |
| Allison Transmission Inc., 4.75%, 10/01/27 (Call 10/01/23)<sup>(a)</sup> | 45 | 42664 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.82%, 11/02/27 (Call 08/02/27) | 88 | 79456 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/17/27 (Call 06/17/27) | 145 | 133602 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.27%, 01/09/27 (Call 11/09/26) | 103 | 96828 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 05/28/27 (Call 04/28/27) | 170 | 163168 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.35%, 11/04/27 (Call 10/04/27) | 175 | 183526 |
| Jaguar Land Rover Automotive PLC, 4.50%, 10/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 07/01/27)<sup>(a)(b)</sup> | 57 | 47529 |
|  |  | 746773 |
| **Auto Parts & Equipment — 2.0%** |  |  |
| American Axle & Manufacturing Inc., 6.50%, 04/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/01/23)<sup>(b)</sup> | 56 | 51655 |
| Clarios Global LP/Clarios US Finance Co., 8.50%, 05/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 05/15/23)<sup>(a)(b)</sup> | 230 | 229312 |
| Dana Inc., 5.38%, 11/15/27 (Call 11/15/23)<sup>(b)</sup> | 45 | 42943 |
| Goodyear Tire & Rubber Co. (The), 4.88%, 03/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 12/15/26)<sup>(b)</sup> | 80 | 75164 |
| IHO Verwaltungs GmbH, 6.00%, 05/15/27 (Call 05/15/23), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(6.75% PIK)<sup>(a)(c)</sup> | 51 | 47217 |
|  |  | 446291 |
| **Banks — 0.3%** |  |  |
| Freedom Mortgage Corp., 6.63%, 01/15/27 (Call 01/15/24)<sup>(a)</sup> | 70 | 58256 |
| **Building Materials — 1.1%** |  |  |
| Eco Material Technologies Inc., 7.88%, 01/31/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 01/31/24)<sup>(a)</sup> | 60 | 57775 |
| Jeld-Wen Inc., 4.88%, 12/15/27 (Call 12/15/23)<sup>(a)(b)</sup> | 50 | 40804 |
| Standard Industries Inc./NJ, 5.00%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 100 | 95227 |
| Summit Materials LLC/Summit Materials Finance Corp., 6.50%, 03/15/27 (Call 03/15/23)<sup>(a)(b)</sup> | 40 | 39871 |
|  |  | 233677 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Chemicals — 2.2%** |  |  |
| Cerdia Finanz GmbH, 10.50%, 02/15/27 (Call 02/15/24)<sup>(a)</sup> | $70 | $59379 |
| Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)<sup>(a)(b)</sup> | 60 | 56683 |
| Cheever Escrow Issuer LLC, 7.13%, 10/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/01/24)<sup>(a)(b)</sup> | 40 | 39171 |
| Chemours Co. (The), 5.38%, 05/15/27 (Call 02/15/27) | 60 | 55558 |
| HB Fuller Co., 4.00%, 02/15/27 (Call 11/15/26) | 35 | 32514 |
| Methanex Corp., 5.13%, 10/15/27 (Call 04/15/27) | 80 | 76473 |
| Olin Corp., 5.13%, 09/15/27 (Call 03/15/23) | 60 | 58254 |
| SPCM SA, 3.13%, 03/15/27 (Call 03/15/24)<sup>(a)</sup> | 40 | 35267 |
| WR Grace Holdings LLC, 4.88%, 06/15/27 (Call 06/15/23)<sup>(a)</sup> | 85 | 79306 |
|  |  | 492605 |
| **Commercial Services — 5.5%** |  |  |
| Albion Financing 2Sarl, 8.75%, 04/15/27 (Call 10/15/23)<sup>(a)</sup> | 40 | 34070 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp., 9.75%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 124 | 118457 |
| AMN Healthcare Inc., 4.63%, 10/01/27 (Call 10/01/23)<sup>(a)</sup> | 60 | 55656 |
| APX Group Inc., 6.75%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 70 | 68625 |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/27 (Call 07/15/23)<sup>(a)(b)</sup> | 48 | 45142 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 40 | 37615 |
| Brink's Co. (The), 4.63%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 70 | 65662 |
| CoreCivic Inc., 4.75%, 10/15/27 (Call 07/15/27) | 30 | 26308 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 68 | 62221 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.50%, 11/01/27 (Call 11/01/23)<sup>(a)</sup> | 70 | 69442 |
| Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 140 | 134096 |
| Korn Ferry, 4.63%, 12/15/27 (Call 12/15/23)<sup>(a)(b)</sup> | 45 | 42313 |
| Prime Security Services Borrower LLC/Prime Finance Inc., 3.38%, 08/31/27 (Call 08/31/26)<sup>(a)</sup> | 117 | 104095 |
| Sabre GLBL Inc., 11.25%, 12/15/27 (Call 06/15/25)<sup>(a)</sup> | 65 | 68897 |
| Service Corp. International/U.S., 4.63%, 12/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 12/15/23) | 65 | 62113 |
| Sotheby's, 7.38%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 90 | 87028 |
| United Rentals North America Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/27 (Call 03/03/23) | 90 | 85462 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 05/15/27 (Call 05/15/23) | 59 | 58640 |
|  |  | 1225842 |
| **Computers — 1.0%** |  |  |
| NCR Corp., 5.75%, 09/01/27 (Call 09/01/23)<sup>(a)</sup> | 60 | 58533 |
| Presidio Holdings Inc., 4.88%, 02/01/27 (Call 02/01/23)<sup>(a)</sup> | 60 | 55899 |
| Seagate HDD Cayman, 4.88%, 06/01/27 (Call 03/01/27) | 60 | 58211 |
| Unisys Corp., 6.88%, 11/01/27 (Call 11/01/23)<sup>(a)</sup> | 60 | 45486 |
|  |  | 218129 |
| **Distribution & Wholesale — 0.9%** |  |  |
| BCPE Empire Holdings Inc., 7.63%, 05/01/27 (Call 05/01/23)<sup>(a)</sup> | 80 | 74790 |
| IAA Inc., 5.50%, 06/15/27 (Call 06/15/23)<sup>(a)</sup> | 61 | 61209 |
| Univar Solutions USA Inc., 5.13%, 12/01/27 (Call 12/01/23)<sup>(a)</sup> | 60 | 58256 |
|  |  | 194255 |
| **Diversified Financial Services — 2.6%** |  |  |
| Advisor Group Holdings Inc., 10.75%, 08/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/01/23)<sup>(a)</sup> | 40 | 41334 |
| AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 09/30/24)<sup>(a)</sup> | 59 | 60845 |
| Castlelake Aviation Finance DAC, 5.00%, 04/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/15/24)<sup>(a)</sup> | 50 | 45592 |
| LPL Holdings Inc., 4.63%, 11/15/27 (Call 11/15/23)<sup>(a)</sup> | 45 | 42822 |
| Nationstar Mortgage Holdings Inc., 6.00%, 01/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 01/15/24)<sup>(a)</sup> | 72 | 66929 |
| Navient Corp., 5.00%, 03/15/27 (Call 09/15/26) | 85 | 77641 |
| OneMain Finance Corp., 3.50%, 01/15/27 (Call 01/15/24) | 88 | 76866 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Diversified Financial Services (continued)** |  |  |
| Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., 6.38%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;02/01/27 (Call 02/01/24)<sup>(a)</sup> | $45 | $43041 |
| United Wholesale Mortgage LLC, 5.75%, 06/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/15/24)<sup>(a)</sup> | 60 | 53879 |
| VistaJet Malta Finance PLC/XO Management Holding Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.88%, 05/01/27 (Call 04/26/24)<sup>(a)(b)</sup> | 60 | 58061 |
|  |  | 567010 |
| **Electric — 2.6%** |  |  |
| FirstEnergy Corp., Series B, 4.15%, 07/15/27 (Call 04/15/27)<sup>(b)</sup> | 174 | 166269 |
| NextEra Energy Operating Partners LP, 4.50%, 09/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/15/27)<sup>(a)</sup> | 65 | 61230 |
| NRG Energy Inc., 6.63%, 01/15/27 (Call 07/15/23) | 48 | 48040 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 07/31/27 (Call 07/31/23)<sup>(a)</sup> | 155 | 145793 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 155 | 150200 |
|  |  | 571532 |
| **Electrical Components & Equipment — 0.1%** |  |  |
| EnerSys, 4.38%, 12/15/27 (Call 09/15/27)<sup>(a)</sup> | 35 | 32331 |
| **Engineering & Construction — 0.7%** |  |  |
| AECOM, 5.13%, 03/15/27 (Call 12/15/26) | 115 | 112987 |
| Promontoria Holding 264 BV, 7.88%, 03/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 03/01/24)<sup>(a)(b)</sup> | 45 | 42554 |
|  |  | 155541 |
| **Entertainment — 4.3%** |  |  |
| Affinity Gaming, 6.88%, 12/15/27 (Call 12/01/23)<sup>(a)</sup> | 67 | 59942 |
| Caesars Entertainment Inc., 8.13%, 07/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 07/01/23)<sup>(a)(b)</sup> | 210 | 213150 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op, 5.38%, 04/15/27 (Call 04/15/23)<sup>(b)</sup> | 61 | 59028 |
| Churchill Downs Inc., 5.50%, 04/01/27 (Call 04/01/23)<sup>(a)</sup> | 72 | 69881 |
| International Game Technology PLC, 6.25%, 01/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 07/15/26)<sup>(a)</sup> | 88 | 88357 |
| Live Nation Entertainment Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 10/15/27 (Call 10/15/23)<sup>(a)(b)</sup> | 110 | 101744 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 05/15/27 (Call 05/15/23)<sup>(a)</sup> | 141 | 141785 |
| Motion Bondco DAC, 6.63%, 11/15/27 (Call 11/15/23)<sup>(a)(b)</sup> | 50 | 45201 |
| Odeon Finco PLC, 12.75%, 11/01/27 (Call 11/01/24)<sup>(a)</sup> | 45 | 41481 |
| Penn Entertainment Inc., 5.63%, 01/15/27 (Call 01/15/24)<sup>(a)(b)</sup> | 45 | 42290 |
| Six Flags Entertainment Corp., 5.50%, 04/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/15/23)<sup>(a)(b)</sup> | 61 | 57574 |
| Speedway Motorsports LLC/Speedway Funding II Inc., 4.88%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;11/01/27 (Call 11/01/23)<sup>(a)</sup> | 40 | 37556 |
|  |  | 957989 |
| **Environmental Control — 0.5%** |  |  |
| Clean Harbors Inc., 4.88%, 07/15/27 (Call 07/15/23)<sup>(a)(b)</sup> | 65 | 62701 |
| Harsco Corp., 5.75%, 07/31/27 (Call 07/31/23)<sup>(a)</sup> | 55 | 46515 |
|  |  | 109216 |
| **Food — 1.7%** |  |  |
| Albertsons Companies Inc./Safeway Inc./New |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Albertsons LP/Albertsons LLC, 4.63%, 01/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 01/15/24)<sup>(a)</sup> | 161 | 152825 |
| B&G Foods Inc., 5.25%, 09/15/27 (Call 03/01/23)<sup>(b)</sup> | 65 | 52543 |
| Performance Food Group Inc., 5.50%, 10/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/15/23)<sup>(a)</sup> | 123 | 118701 |
| Post Holdings Inc., 5.75%, 03/01/27 (Call 03/01/23)<sup>(a)</sup> | 55 | 54232 |
|  |  | 378301 |
| **Gas — 0.3%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 5.75%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;05/20/27 (Call 02/20/27) | 62 | 58431 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Health Care - Products — 0.3%** |  |  |
| Teleflex Inc., 4.63%, 11/15/27 (Call 11/15/23) | $60 | $57322 |
| **Health Care - Services — 4.1%** |  |  |
| Catalent Pharma Solutions Inc., 5.00%, 07/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 07/15/23)<sup>(a)</sup> | 60 | 56994 |
| CHS/Community Health Systems Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 03/15/27 (Call 12/15/23)<sup>(a)</sup> | 225 | 199138 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 12/15/27 (Call 12/15/23)<sup>(a)(b)</sup> | 85 | 80373 |
| IQVIA Inc., 5.00%, 05/15/27 (Call 05/15/23)<sup>(a)</sup> | 130 | 126385 |
| Legacy LifePoint Health LLC, 4.38%, 02/15/27 (Call 03/03/23)<sup>(a)</sup> | 70 | 61198 |
| Surgery Center Holdings Inc., 10.00%, 04/15/27 (Call 04/15/23)<sup>(a)(b)</sup> | 45 | 46140 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 11/01/27 | 195 | 187711 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 02/01/27 | 159 | 155422 |
|  |  | 913361 |
| **Holding Companies - Diversified — 0.7%** |  |  |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;05/15/27 (Call 11/15/26) | 170 | 159027 |
| **Home Builders — 1.7%** |  |  |
| Beazer Homes USA Inc., 5.88%, 10/15/27 (Call 10/15/23)<sup>(b)</sup> | 41 | 36997 |
| Brookfield Residential Properties Inc./Brookfield Residential U.S. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;LLC, 6.25%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 70 | 62375 |
| Century Communities Inc., 6.75%, 06/01/27 (Call 06/01/23) | 61 | 60379 |
| KB Home, 6.88%, 06/15/27 (Call 12/15/26) | 35 | 35783 |
| Mattamy Group Corp., 5.25%, 12/15/27 (Call 12/15/23)<sup>(a)</sup> | 61 | 55808 |
| Meritage Homes Corp., 5.13%, 06/06/27 (Call 12/06/26) | 35 | 33732 |
| Taylor Morrison Communities Inc., 5.88%, 06/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 03/15/27)<sup>(a)</sup> | 61 | 60002 |
| Tri Pointe Homes Inc., 5.25%, 06/01/27 (Call 12/01/26) | 35 | 32941 |
|  |  | 378017 |
| **Housewares — 0.3%** |  |  |
| Newell Brands Inc., 6.38%, 09/15/27 (Call 06/15/27) | 60 | 60324 |
| **Insurance — 1.3%** |  |  |
| Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 89 | 81618 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 159 | 148892 |
| GTCR AP Finance Inc., 8.00%, 05/15/27 (Call 05/15/23)<sup>(a)(b)</sup> | 55 | 54007 |
|  |  | 284517 |
| **Internet — 2.6%** |  |  |
| Cablevision Lightpath LLC, 3.88%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 55 | 46990 |
| Cogent Communications Group Inc., 7.00%, 06/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/15/24)<sup>(a)</sup> | 55 | 54494 |
| Getty Images Inc., 9.75%, 03/01/27 (Call 03/01/23)<sup>(a)</sup> | 35 | 34723 |
| Go Daddy Operating Co. LLC/GD Finance Co. Inc., 5.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;12/01/27 (Call 06/01/23)<sup>(a)</sup> | 70 | 67805 |
| GrubHub Holdings Inc., 5.50%, 07/01/27 (Call 07/01/23)<sup>(a)</sup> | 58 | 46560 |
| Match Group Holdings II LLC, 5.00%, 12/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 12/15/23)<sup>(a)</sup> | 52 | 49871 |
| Northwest Fiber LLC/Northwest Fiber Finance Sub Inc., 4.75%, 04/30/27 (Call 10/15/23)<sup>(a)</sup> | 40 | 36529 |
| NortonLifeLock Inc., 6.75%, 09/30/27 (Call 09/30/24)<sup>(a)</sup> | 105 | 106471 |
| Uber Technologies Inc., 7.50%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 140 | 142098 |
|  |  | 585541 |
| **Iron & Steel — 1.2%** |  |  |
| Allegheny Technologies Inc., 5.88%, 12/01/27 (Call 12/01/23) | 40 | 38691 |
| Cleveland-Cliffs Inc., 5.88%, 06/01/27 (Call 06/01/23)<sup>(b)</sup> | 65 | 63906 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Iron & Steel (continued)** |  |  |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 11/01/27 (Call 11/01/24)<sup>(a)</sup> | $75 | $77040 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.13%, 05/01/27 (Call 05/01/23)<sup>(a)</sup> | 80 | 80667 |
|  |  | 260304 |
| **Leisure Time — 4.4%** |  |  |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/27 (Call 12/01/26)<sup>(a)</sup> | 415 | 344354 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.88%, 08/01/27 (Call 02/01/24)<sup>(a)(b)</sup> | 106 | 108953 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27 (Call 02/15/24)<sup>(a)</sup> | 42 | 41125 |
| NCL Corp. Ltd., 5.88%, 02/15/27 (Call 02/15/24)<sup>(a)</sup> | 120 | 111732 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 07/15/27 (Call 10/15/26)<sup>(a)</sup> | 120 | 104266 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 10/15/27 | 35 | 32599 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.63%, 08/15/27 (Call 08/15/24)<sup>(a)(b)</sup> | 145 | 153917 |
| Viking Cruises Ltd., 5.88%, 09/15/27 (Call 09/15/23)<sup>(a)(b)</sup> | 100 | 85275 |
|  |  | 982221 |
| **Lodging — 3.3%** |  |  |
| Boyd Gaming Corp., 4.75%, 12/01/27 (Call 12/01/23) | 120 | 114116 |
| Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 04/01/23) | 70 | 67824 |
| Melco Resorts Finance Ltd., 5.63%, 07/17/27 (Call 03/02/23)<sup>(d)</sup> | 72 | 65798 |
| MGM China Holdings Ltd., 4.75%, 02/01/27 (Call 02/01/24)<sup>(a)</sup> | 90 | 80796 |
| MGM Resorts International, 5.50%, 04/15/27 (Call 01/15/27)<sup>(b)</sup> | 78 | 75352 |
| Sands China Ltd., 2.80%, 03/08/27 (Call 02/08/27) | 80 | 69955 |
| Studio City Co. Ltd., 7.00%, 02/15/27 (Call 02/15/24)<sup>(a)(b)</sup> | 40 | 38584 |
| Travel + Leisure Co., 6.00%, 04/01/27 (Call 01/01/27) | 45 | 44130 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;05/15/27 (Call 02/15/27)<sup>(a)</sup> | 105 | 99172 |
| Wynn Macau Ltd., 5.50%, 10/01/27 (Call 10/01/23)<sup>(a)</sup> | 90 | 80544 |
|  |  | 736271 |
| **Machinery — 0.9%** |  |  |
| Granite US Holdings Corp., 11.00%, 10/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/01/23)<sup>(a)(b)</sup> | 37 | 39013 |
| TK Elevator U.S. Newco Inc., 5.25%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 185 | 170940 |
|  |  | 209953 |
| **Manufacturing — 0.2%** |  |  |
| Amsted Industries Inc., 5.63%, 07/01/27 (Call 07/01/23)<sup>(a)</sup> | 45 | 44235 |
| **Media — 11.0%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 5.13%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;05/01/27 (Call 05/01/23)<sup>(a)</sup> | 380 | 362106 |
| CSC Holdings LLC, 5.50%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 155 | 136456 |
| Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 440 | 398534 |
| DISH Network Corp., 11.75%, 11/15/27 (Call 05/15/25)<sup>(a)</sup> | 300 | 311133 |
| Gray Television Inc., 7.00%, 05/15/27 (Call 05/15/23)<sup>(a)</sup> | 90 | 81791 |
| iHeartCommunications Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 88 | 78896 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.38%, 05/01/27 (Call 05/01/23) | 150 | 134473 |
| LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/15/23)<sup>(a)</sup> | 137 | 133464 |
| Midcontinent Communications/Midcontinent Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 40 | 37928 |
| Nexstar Media Inc., 5.63%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 210 | 200063 |
| Scripps Escrow Inc., 5.88%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 55 | 49125 |
| Sinclair Television Group Inc., 5.13%, 02/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/15/23)<sup>(a)</sup> | 35 | 31040 |
| Sirius XM Radio Inc., 5.00%, 08/01/27 (Call 08/01/23)<sup>(a)</sup> | 175 | 165609 |
| Univision Communications Inc., 6.63%, 06/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/01/23)<sup>(a)</sup> | 175 | 171456 |
| Videotron Ltd., 5.13%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 70 | 67498 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Media (continued)** |  |  |
| Ziggo Bond Co. BV, 6.00%, 01/15/27 (Call 01/15/24)<sup>(a)(b)</sup> | $75 | $70977 |
|  |  | 2430549 |
| **Metal Fabricate & Hardware — 0.3%** |  |  |
| Advanced Drainage Systems Inc., 5.00%, 09/30/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 09/30/23)<sup>(a)</sup> | 40 | 38173 |
| Park-Ohio Industries Inc., 6.63%, 04/15/27 (Call 04/15/23) | 45 | 33322 |
|  |  | 71495 |
| **Mining — 0.8%** |  |  |
| Compass Minerals International Inc., 6.75%, 12/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 12/01/23)<sup>(a)</sup> | 60 | 58891 |
| FMG Resources August 2006 Pty Ltd., 4.50%, 09/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/15/27)<sup>(a)</sup> | 70 | 66587 |
| New Gold Inc., 7.50%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 50 | 46682 |
|  |  | 172160 |
| **Office & Business Equipment — 0.2%** |  |  |
| Pitney Bowes Inc., 6.88%, 03/15/27 (Call 03/15/24)<sup>(a)</sup> | 49 | 41157 |
| **Oil & Gas — 5.2%** |  |  |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.00%, 11/01/27 (Call 11/01/26)<sup>(a)</sup> | 40 | 49528 |
| Baytex Energy Corp., 8.75%, 04/01/27 (Call 04/01/23)<sup>(a)(b)</sup> | 55 | 56915 |
| Calumet Specialty Products Partners LP/Calumet Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp., 8.13%, 01/15/27 (Call 01/15/24)<sup>(a)</sup> | 40 | 38866 |
| Centennial Resource Production LLC, 6.88%, 04/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/01/23)<sup>(a)</sup> | 40 | 39222 |
| CNX Resources Corp., 7.25%, 03/14/27 (Call 03/14/23)<sup>(a)</sup> | 43 | 42807 |
| Earthstone Energy Holdings LLC, 8.00%, 04/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/15/24)<sup>(a)</sup> | 65 | 63402 |
| EnQuest PLC, 11.63%, 11/01/27 (Call 11/01/24)<sup>(a)</sup> | 35 | 34367 |
| MEG Energy Corp., 7.13%, 02/01/27 (Call 02/01/23)<sup>(a)</sup> | 75 | 76944 |
| Moss Creek Resources Holdings Inc., 10.50%, 05/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 05/15/23)<sup>(a)</sup> | 55 | 53424 |
| Murphy Oil Corp., 5.88%, 12/01/27 (Call 12/01/23) | 65 | 64093 |
| Nabors Industries Inc., 7.38%, 05/15/27 (Call 05/15/24)<sup>(a)</sup> | 80 | 80104 |
| Occidental Petroleum Corp., 8.50%, 07/15/27 (Call 01/15/27) | 60 | 66381 |
| Parkland Corp., 5.88%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 60 | 57638 |
| SM Energy Co., 6.63%, 01/15/27 (Call 01/15/24) | 50 | 48826 |
| Southwestern Energy Co., 7.75%, 10/01/27 (Call 10/01/23) | 50 | 52138 |
| Sunoco LP/Sunoco Finance Corp., 6.00%, 04/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/15/23) | 70 | 69966 |
| Transocean Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 02/01/27 (Call 02/01/23)<sup>(a)</sup> | 70 | 64207 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.50%, 01/30/27 (Call 07/30/23)<sup>(a)</sup> | 80 | 83534 |
| Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/23)<sup>(a)</sup> | 59 | 58205 |
| Viper Energy Partners LP, 5.38%, 11/01/27 (Call 11/01/23)<sup>(a)</sup> | 50 | 48409 |
|  |  | 1148976 |
| **Oil & Gas Services — 1.2%** |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp., 6.88%, 04/01/27 (Call 04/01/23)<sup>(a)</sup> | 60 | 58744 |
| CGG SA, 8.75%, 04/01/27 (Call 04/01/24)<sup>(a)(b)</sup> | 60 | 53379 |
| Enerflex Ltd., 9.00%, 10/15/27 (Call 10/15/24)<sup>(a)</sup> | 75 | 76351 |
| USA Compression Partners LP/USA Compression Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp., 6.88%, 09/01/27 (Call 09/01/23) | 90 | 87326 |
|  |  | 275800 |
| **Packaging & Containers — 3.6%** |  |  |
| ARD Finance SA, 6.50%, 06/30/27 (Call 11/15/23), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(7.25% PIK)<sup>(a)(c)</sup> | 105 | 82282 |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Packaging Finance PLC, 6.00%, 06/15/27 (Call 06/15/24)<sup>(a)</sup> | 70 | 70003 |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 215 | 176739 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Packaging & Containers (continued)** |  |  |
| Berry Global Inc., 5.63%, 07/15/27 (Call 07/15/23)<sup>(a)(b)</sup> | $60 | $58983 |
| Graphic Packaging International LLC, 4.75%, 07/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/15/27)<sup>(a)(b)</sup> | 35 | 33675 |
| LABL Inc., 10.50%, 07/15/27 (Call 07/15/23)<sup>(a)</sup> | 84 | 79882 |
| Owens-Brockway Glass Container Inc., 6.63%, 05/13/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 05/15/23)<sup>(a)(b)</sup> | 72 | 70782 |
| Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuer LLC/Reynolds Gro, 4.00%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 120 | 107801 |
| Sealed Air Corp., 4.00%, 12/01/27 (Call 09/01/27)<sup>(a)</sup> | 50 | 46240 |
| Trivium Packaging Finance BV, 8.50%, 08/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/15/23)<sup>(a)(b)</sup> | 80 | 76999 |
|  |  | 803386 |
| **Pharmaceuticals — 0.9%** |  |  |
| Bausch Health Cos. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 57 | 38444 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/01/27 (Call 02/01/24)<sup>(a)</sup> | 120 | 81813 |
| Horizon Therapeutics USA Inc., 5.50%, 08/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/01/23)<sup>(a)</sup> | 70 | 71467 |
|  |  | 191724 |
| **Pipelines — 3.4%** |  |  |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., 5.75%, 03/01/27 (Call 03/01/23)<sup>(a)(b)</sup> | 75 | 72732 |
| Buckeye Partners LP, 4.13%, 12/01/27 (Call 09/01/27) | 45 | 40702 |
| Crestwood Midstream Partners LP/Crestwood Midstream |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance Corp., 5.63%, 05/01/27 (Call 05/01/23)<sup>(a)</sup> | 70 | 66949 |
| EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 07/01/27 (Call 01/01/27)<sup>(a)</sup> | 107 | 104651 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/27 (Call 06/01/24)<sup>(a)(b)</sup> | 60 | 60166 |
| FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/01/25)<sup>(a)(b)</sup> | 60 | 60404 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;01/15/27 (Call 01/15/24) | 115 | 113530 |
| Global Partners LP/GLP Finance Corp., 7.00%, 08/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 08/01/23) | 45 | 43424 |
| Holly Energy Partners LP/Holly Energy Finance Corp., 6.38%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;04/15/27 (Call 04/15/24)<sup>(a)</sup> | 45 | 44572 |
| Howard Midstream Energy Partners LLC, 6.75%, 01/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 01/01/24)<sup>(a)</sup> | 45 | 43873 |
| NuStar Logistics LP, 5.63%, 04/28/27 (Call 01/28/27) | 65 | 62608 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., 6.00%, 03/01/27 (Call 03/01/23)<sup>(a)</sup> | 50 | 47549 |
|  |  | 761160 |
| **Real Estate Investment Trusts — 4.0%** |  |  |
| Blackstone Mortgage Trust Inc., 3.75%, 01/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/15/26)<sup>(a)</sup> | 45 | 39706 |
| Brookfield Property REIT Inc./BPR Cumulus LLC/BPR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nimbus LLC/GGSI Sellco LL, 4.50%, 04/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/01/23)<sup>(a)(b)</sup> | 90 | 79228 |
| Global Net Lease Inc./Global Net Lease Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Partnership LP, 3.75%, 12/15/27 (Call 09/15/27)<sup>(a)</sup> | 60 | 50665 |
| Iron Mountain Inc., 4.88%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 120 | 113234 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp., 4.25%, 02/01/27 (Call 02/01/23)<sup>(a)</sup> | 75 | 66093 |
| MPT Operating Partnership LP/MPT Finance Corp., 5.00%, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10/15/27 (Call 09/07/23)<sup>(b)</sup> | 166 | 140366 |
| Office Properties Income Trust, 2.40%, 02/01/27 (Call 01/01/27) | 40 | 30610 |
| RHP Hotel Properties LP/RHP Finance Corp., 4.75%, 10/15/27 (Call 10/15/23) | 80 | 75073 |
| SBA Communications Corp., 3.88%, 02/15/27 (Call 02/15/23) | 175 | 161661 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 02/15/27 (Call 08/15/26) | 45 | 37000 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 12/15/27 (Call 09/15/27) | 54 | 47875 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par/<br> Shares <br> (000)* | *Value* |
| **Real Estate Investment Trusts (continued)** |  |  |
| Starwood Property Trust Inc., 4.38%, 01/15/27 (Call 07/15/26)<sup>(a)</sup> | $59 | $53075 |
|  |  | 894586 |
| **Retail — 2.4%** |  |  |
| Academy Ltd., 6.00%, 11/15/27 (Call 11/15/23)<sup>(a)(b)</sup> | 45 | 43587 |
| Bath & Body Works Inc., 6.69%, 01/15/27<sup>(b)</sup> | 35 | 35153 |
| BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 04/01/23), (8.50% PIK)<sup>(a)(c)</sup> | 49 | 36584 |
| KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;America LLC, 4.75%, 06/01/27 (Call 06/01/23)<sup>(a)</sup> | 87 | 84900 |
| Lithia Motors Inc., 4.63%, 12/15/27 (Call 12/15/23)<sup>(a)</sup> | 45 | 41864 |
| Murphy Oil USA Inc., 5.63%, 05/01/27 (Call 05/01/23) | 35 | 34368 |
| Nordstrom Inc., 4.00%, 03/15/27 (Call 12/15/26)<sup>(b)</sup> | 40 | 34510 |
| Patrick Industries Inc., 7.50%, 10/15/27 (Call 10/15/23)<sup>(a)</sup> | 35 | 34672 |
| QVC Inc., 4.75%, 02/15/27 (Call 11/15/26) | 70 | 53067 |
| Staples Inc., 10.75%, 04/15/27 (Call 04/15/23)<sup>(a)(b)</sup> | 120 | 90913 |
| Suburban Propane Partners LP/Suburban Energy Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corp., 5.88%, 03/01/27 (Call 03/01/23) | 40 | 38712 |
|  |  | 528330 |
| **Semiconductors — 0.3%** |  |  |
| Amkor Technology Inc., 6.63%, 09/15/27 (Call 03/15/23)<sup>(a)</sup> | 60 | 60209 |
| **Software — 1.0%** |  |  |
| SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/23)<sup>(a)</sup> | 235 | 225910 |
| **Telecommunications — 5.8%** |  |  |
| Altice France Holding SA, 10.50%, 05/15/27 (Call 05/15/23)<sup>(a)</sup> | 185 | 158787 |
| Altice France SA/France, 8.13%, 02/01/27 (Call 08/01/23)<sup>(a)</sup> | 205 | 192130 |
| CommScope Inc., 8.25%, 03/01/27 (Call 03/01/23)<sup>(a)(b)</sup> | 120 | 102030 |
| CommScope Technologies LLC, 5.00%, 03/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 03/15/23)<sup>(a)</sup> | 88 | 67205 |
| Frontier Communications Holdings LLC, 5.88%, 10/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 10/15/23)<sup>(a)</sup> | 135 | 128825 |
| Level 3 Financing Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/01/27 (Call 01/01/27)<sup>(a)</sup> | 90 | 77951 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 120 | 101778 |
| Lumen Technologies Inc., 4.00%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 145 | 122383 |
| Maxar Technologies Inc., 7.75%, 06/15/27 (Call 06/15/24)<sup>(a)</sup> | 60 | 62706 |
| Nokia OYJ, 4.38%, 06/12/27. | 60 | 57799 |
| ViaSat Inc., 5.63%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 70 | 65334 |
| Zayo Group Holdings Inc., 4.00%, 03/01/27 (Call 03/03/23)<sup>(a)</sup> | 175 | 139094 |
|  |  | 1276022 |
| **Toys, Games & Hobbies — 0.3%** |  |  |
| Mattel Inc., 5.88%, 12/15/27 (Call 12/15/23)<sup>(a)(b)</sup> | 72 | 72091 |
| **Transportation — 0.5%** |  |  |
| Watco Cos. LLC/Watco Finance Corp., 6.50%, 06/15/27 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Call 06/15/23)<sup>(a)</sup> | 72 | 67998 |
| XPO Escrow Sub LLC, 7.50%, 11/15/27 (Call 11/15/24)<sup>(a)</sup> | 40 | 41107 |
|  |  | 109105 |
| **Trucking & Leasing — 0.2%** |  |  |
| Fortress Transportation and Infrastructure Investors LLC, 9.75%, 08/01/27 (Call 08/01/23)<sup>(a)</sup> | 45 | 46315 |
| **Total Long-Term Investments — 97.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Cost: $22,361,517)** |  | 21604077 |
| **Short-Term Securities** |  |  |
| **Money Market Funds — 12.9%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.56%<sup>(e)(f)(g)</sup> | 2725 | 2726584 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares <br> (000)* | *Value* |
| **Money Market Funds (continued)** |  |  |
| BlackRock Cash Funds: Treasury, SL Agency Shares, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.18%<sup>(e)(f)</sup> | 140 | $140000 |
| **Total Short-Term Securities — 12.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Cost: $2,864,535)** |  | 2866584 |
| **Total Investments — 110.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Cost: $25,226,052)** |  | 24470661 |
| **Liabilities in Excess of Other Assets — (10.6)%** |  | (2351725) |
| **Net Assets — 100.0%** |  | $22118936 |

---

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

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

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

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

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br> 10/31/22* | *Purchases<br> at Cost* | *Proceeds<br> from Sale* | *Net Realized<br> Gain (Loss)* | *Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | *Value at<br> 01/31/23* | *Shares<br> Held at<br> 01/31/23<br> (000)* | *Income* | *Capital Gain<br> Distributions from<br> Underlying Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares | $2835467 | $— | $(111378)<sup>(a)</sup> | $341 | $2154 | $2726584 | 2725 | $4705 <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 20000 | 120000 <sup>(a)</sup> |  |  |  | 140000 | 140 | 671 |  |
|  |  |  |  | $341 | $2154 | $2866584 |  | $5376 | $— |

---

<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 fees and collateral investment expenses, and other payments to and from borrowers of securities.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that each Fund has the ability to access;

● Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (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. There may not be a secondary market, and/or there are 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.

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares**<sup>®</sup> **iBonds<sup>®</sup> 2027 Term High Yield and Income ETF** |
| January 31, 2023 |  |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | $— | $21604077 | $— | $21604077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 2866584 |  |  | 2866584 |
|  | $2866584 | $21604077 | $— | $24470661 |

---

**Portfolio Abbreviation**

PIK Payment-in-kind

REIT Real Estate Investment Trust

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $27730085.95

**Total Liabilities:** $5611294.72

**Net Assets:** $22118791.23

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.03000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.44000000 | **1-Year:** 186.22000000 | **5-Year:** 6743.14000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228465 | 2.31%                | -0.45%               | 3.59%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-50655.37               | $315369.96                                 |
| Month 2  | $-29237.50               | $-149289.06                                |
| Month 3  | $-4676.44                | $588981.25                                 |

### Schedule of Portfolio Investments

| Name                                           | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $66929.04     | 0.30%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP                             | Baytex Energy Corp                                                               | CUSIP: 07317QAH8<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $56915.10     | 0.26%             | 2027-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| PARKLAND CORP                                  | Parkland Corp                                                                    | CUSIP: 70137TAP0<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $57638.40     | 0.26%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Allison Transmission Inc                       | Allison Transmission Inc                                                         | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42664.50     | 0.19%             | 2027-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                            | Allegiant Travel Co                                                              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63635.65     | 0.29%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MOOG INC                                       | Moog Inc                                                                         | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55650.00     | 0.25%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |     45000 | PA      | $36999.90     | 0.17%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ENQUEST PLC                                    | EnQuest PLC                                                                      | CUSIP: 29357JAC0<br>LEI: 2138008LJU6WFQWOXJ73 | Long             | DBT              | CORP              | GB        |     35000 | PA      | $34366.50     | 0.16%             | 2027-11-01      | Fixed         | 11.63%                | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                              | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311133.00    | 1.41%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| IHO Verwaltungs GmbH                           | IHO Verwaltungs GmbH                                                             | CUSIP: 44963BAE8<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     51000 | PA      | $47217.33     | 0.21%             | 2027-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                          | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |    235000 | PA      | $225910.20    | 1.02%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                        | American Axle & Manufacturing Inc                                                | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |     56000 | PA      | $51654.40     | 0.23%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| AG TTMT ESCROW ISSUER                          | AG TTMT Escrow Issuer LLC                                                        | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     59000 | PA      | $60844.93     | 0.28%             | 2027-09-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    145000 | PA      | $133601.55    | 0.60%             | 2027-08-17      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| COGENT COMMUNICATIONS GR                       | Cogent Communications Group Inc                                                  | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54494.00     | 0.25%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     59000 | PA      | $58640.10     | 0.27%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $47549.00     | 0.21%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                             | Mattamy Group Corp                                                               | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |     61000 | PA      | $55807.68     | 0.25%             | 2027-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                        | CUSIP: 28470RAK8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    210000 | PA      | $213150.00    | 0.96%             | 2027-07-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: —       |
| PATRICK INDUSTRIES INC                         | Patrick Industries Inc                                                           | CUSIP: 703343AC7<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34671.70     | 0.16%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                       | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV           | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     60000 | PA      | $56683.20     | 0.26%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $362105.80    | 1.64%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | TENET HEALTHCARE CORP                                                            | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    159000 | PA      | $155422.50    | 0.70%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ziggo Bond Co BV                               | Ziggo Bond Co BV                                                                 | CUSIP: 98954UAB9<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |     75000 | PA      | $70977.00     | 0.32%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| ADVISOR GROUP HOLDINGS I                       | Advisor Group Holdings Inc                                                       | CUSIP: 00791GAA5<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41334.00     | 0.19%             | 2027-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| Post Holdings Inc                              | Post Holdings Inc                                                                | CUSIP: 737446AM6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54232.20     | 0.25%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                              | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62701.60     | 0.28%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| TRIVIUM PACKAGING FIN                          | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAB2<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |     80000 | PA      | $76999.20     | 0.35%             | 2027-08-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                 | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    120000 | PA      | $114116.40    | 0.52%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KORN/FERRY INTERNATIONAL                       | Korn Ferry                                                                       | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42313.05     | 0.19%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                                | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     45000 | PA      | $41864.40     | 0.19%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     88000 | PA      | $79456.08     | 0.36%             | 2027-11-02      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| IAA Inc                                        | IAA Inc                                                                          | CUSIP: 449253AB9<br>LEI: 549300PZCOPC5178W747 | Long             | DBT              | CORP              | US        |     61000 | PA      | $61209.23     | 0.28%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                 | ARD Finance SA                                                                   | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    105000 | PA      | $82282.20     | 0.37%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                       | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                     | CUSIP: 432891AK5<br>LEI: 549300406TN7EY0NPH20 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67823.70     | 0.31%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                       | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     70000 | PA      | $62374.90     | 0.28%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SUMMIT MATERIALS LLC/FIN                       | Summit Materials LLC / Summit Materials Finance Corp                             | CUSIP: 86614RAM9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $39870.40     | 0.18%             | 2027-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| OUTFRONT MEDIA CAP LLC/C                       | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $69425.25     | 0.31%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| NABORS INDUSTRIES INC                          | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80104.00     | 0.36%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                        | Global Net Lease Inc / Global Net Lease Operating Partnership LP                 | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |     60000 | PA      | $50665.20     | 0.23%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                       | Permian Resources Operating LLC                                                  | CUSIP: 15138AAC4<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39221.60     | 0.18%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                               | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    155000 | PA      | $136455.80    | 0.62%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW INC                             | Scripps Escrow Inc                                                               | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $49124.90     | 0.22%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     65000 | PA      | $68896.75     | 0.31%             | 2027-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                | Sands China Ltd                                                                  | CUSIP: 80007RAN5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     80000 | PA      | $69955.20     | 0.32%             | 2027-03-08      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106471.05    | 0.48%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                          | Earthstone Energy Holdings LLC                                                   | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63402.30     | 0.29%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAH3<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    107000 | PA      | $104651.35    | 0.47%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                               | Pitney Bowes Inc                                                                 | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |     49000 | PA      | $41156.57     | 0.19%             | 2027-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                    | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65497.25     | 0.30%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CGG SA                                         | CGG SA                                                                           | CUSIP: 12531TAF6<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |     60000 | PA      | $53379.00     | 0.24%             | 2027-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| Meritage Homes Corp                            | Meritage Homes Corp                                                              | CUSIP: 59001ABA9<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33732.30     | 0.15%             | 2027-06-06      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                            | CUSIP: 501797AQ7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35152.60     | 0.16%             | 2027-01-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: —       |
| TAYLOR MORRISON COMM                           | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |     61000 | PA      | $60002.04     | 0.27%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                       | iHeartCommunications Inc                                                         | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134473.50    | 0.61%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd                                 | Wynn Macau Ltd                                                                   | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |     90000 | PA      | $80543.70     | 0.36%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                                               | CUSIP: 81180WAR2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |     60000 | PA      | $58211.40     | 0.26%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MAXAR TECHNOLOGIES INC                         | Maxar Technologies Inc                                                           | CUSIP: 57778KAC9<br>LEI: 549300OEN2G821MIJ922 | Long             | DBT              | CORP              | US        |     60000 | PA      | $62706.00     | 0.28%             | 2027-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                       | iHeartCommunications Inc                                                         | CUSIP: 45174HBE6<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     88000 | PA      | $78895.52     | 0.36%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                       | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $136638.00    | 0.62%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                      | IQVIA Inc                                                                        | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126384.70    | 0.57%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                          | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     72000 | PA      | $65797.92     | 0.30%             | 2027-07-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NCR CORP                                       | NCR Corp                                                                         | CUSIP: 62886EAU2<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58532.40     | 0.26%             | 2027-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAF1<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |     57000 | PA      | $47528.88     | 0.21%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| VIDEOTRON LTD / LTEE                           | Videotron Ltd                                                                    | CUSIP: 92660FAK0<br>LEI: 549300LW4GNJRBECSD81 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $67497.50     | 0.31%             | 2027-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $49527.60     | 0.22%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $398534.40    | 1.80%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Transocean Poseidon Ltd                        | Transocean Poseidon Ltd                                                          | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     58625 | PA      | $58204.66     | 0.26%             | 2027-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                            | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    120000 | PA      | $111732.00    | 0.51%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Gray Television Inc                            | Gray Television Inc                                                              | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81791.10     | 0.37%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 2SARL                         | Albion Financing 2SARL                                                           | CUSIP: 013305AA5<br>LEI: 2594009X2UW7EQPIKY23 | Long             | DBT              | CORP              | LU        |     40000 | PA      | $34070.40     | 0.15%             | 2027-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    106000 | PA      | $108953.16    | 0.49%             | 2027-08-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| NEW GOLD INC                                   | New Gold Inc                                                                     | CUSIP: 644535AH9<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $46682.50     | 0.21%             | 2027-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                       | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAC5<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46315.35     | 0.21%             | 2027-08-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                  | Methanex Corp                                                                    | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |     80000 | PA      | $76473.60     | 0.35%             | 2027-10-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    170000 | PA      | $163167.70    | 0.74%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    120000 | PA      | $98925.60     | 0.45%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                       | Graphic Packaging International LLC                                              | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33675.25     | 0.15%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| TRANSOCEAN INC                                 | Transocean Inc                                                                   | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     70000 | PA      | $64207.50     | 0.29%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MATTEL INC                                     | Mattel Inc                                                                       | CUSIP: 577081BD3<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |     72000 | PA      | $72090.72     | 0.33%             | 2027-12-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| ANTERO MIDSTREAM PART/FI                       | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $72732.00     | 0.33%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LP                       | Viper Energy Partners LP                                                         | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48409.50     | 0.22%             | 2027-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                          | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     75000 | PA      | $77040.00     | 0.35%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD PPTY REIT INC                       | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |     90000 | PA      | $79227.90     | 0.36%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| TRANSOCEAN INC                                 | Transocean Inc                                                                   | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     80000 | PA      | $83534.40     | 0.38%             | 2027-01-30      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   2789232 | NS      | $2790905.89   | 12.62%            |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST                        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |     59000 | PA      | $53074.63     | 0.24%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85462.20     | 0.39%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics LP                            | NuStar Logistics LP                                                              | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62608.00     | 0.28%             | 2027-04-28      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PRESIDIO HOLDING INC                           | Presidio Holdings Inc                                                            | CUSIP: 74101XAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $55899.00     | 0.25%             | 2027-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                       | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              |  | US        |     80000 | PA      | $75072.80     | 0.34%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $148892.37    | 0.67%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                   | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40804.00     | 0.18%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                                              | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44130.15     | 0.20%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                        | EnerSys                                                                          | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32331.25     | 0.15%             | 2027-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GRANITE US HOLDINGS CORP                       | Granite US Holdings Corp                                                         | CUSIP: 38748YAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     37000 | PA      | $39012.80     | 0.18%             | 2027-10-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |     54000 | PA      | $47874.78     | 0.22%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BCPE EMPIRE HOLDINGS INC                       | BCPE Empire Holdings Inc                                                         | CUSIP: 05552VAA0<br>LEI: 549300O2G0VI2955B626 | Long             | DBT              | CORP              | US        |     80000 | PA      | $74790.40     | 0.34%             | 2027-05-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    103000 | PA      | $96828.24     | 0.44%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                          | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |     55000 | PA      | $46989.80     | 0.21%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    415000 | PA      | $344354.55    | 1.56%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                       | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38173.20     | 0.17%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    135000 | PA      | $128825.10    | 0.58%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HARSCO CORP                                    | Harsco Corp                                                                      | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |     55000 | PA      | $46514.60     | 0.21%             | 2027-07-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    195000 | PA      | $187710.90    | 0.85%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBD1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80372.60     | 0.36%             | 2027-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| LCPR SR SECURED FIN DAC                        | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |    137000 | PA      | $133464.03    | 0.60%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CommScope Inc                                  | CommScope Inc                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    120000 | PA      | $102030.00    | 0.46%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| OXFORD FIN LLC/CO-ISS II                       | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                             | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $43040.70     | 0.19%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                        | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    166000 | PA      | $140366.28    | 0.63%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| SINCLAIR TELEVISION GROU                       | Sinclair Television Group Inc                                                    | CUSIP: 829259AW0<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31039.75     | 0.14%             | 2027-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Nordstrom Inc                                  | Nordstrom Inc                                                                    | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     40000 | PA      | $34509.60     | 0.16%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| SEALED AIR CORP                                | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46240.50     | 0.21%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $87326.10     | 0.39%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                        | Surgery Center Holdings Inc                                                      | CUSIP: 86881WAD4<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |     45000 | PA      | $46139.85     | 0.21%             | 2027-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| LABL INC                                       | LABL Inc                                                                         | CUSIP: 50168AAA8<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |     84000 | PA      | $79882.32     | 0.36%             | 2027-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BCPE ULYSSES INTERMEDIAT                       | BCPE Ulysses Intermediate Inc                                                    | CUSIP: 05553LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     49000 | PA      | $36584.38     | 0.17%             | 2027-04-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                           | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     68000 | PA      | $62221.36     | 0.28%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                            | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    120000 | PA      | $101778.00    | 0.46%             | 2027-09-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                            | Churchill Downs Inc                                                              | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     72000 | PA      | $69881.04     | 0.32%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY CO LTD                             | Studio City Co Ltd                                                               | CUSIP: 86400GAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |     40000 | PA      | $38584.00     | 0.17%             | 2027-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| NRG Energy Inc                                 | NRG Energy Inc                                                                   | CUSIP: 629377CC4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48040.32     | 0.22%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                             | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $85275.00     | 0.39%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| WATCO COS LLC/FINANCE CO                       | Watco Cos LLC / Watco Finance Corp                                               | CUSIP: 941130AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     72000 | PA      | $67998.24     | 0.31%             | 2027-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ECO MATERIAL TECH INC                          | Eco Material Technologies Inc                                                    | CUSIP: 27900QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $57775.20     | 0.26%             | 2027-01-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                  | B&G Foods Inc                                                                    | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |     65000 | PA      | $52543.40     | 0.24%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| KFC HLD/PIZZA HUT/TACO                         | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC                   | CUSIP: 48250NAC9<br>LEI: 549300G2LG4YUB3MM115 | Long             | DBT              | CORP              | US        |     87000 | PA      | $84899.82     | 0.38%             | 2027-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                              | Newell Brands Inc                                                                | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60324.00     | 0.27%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AECOM                                          | AECOM                                                                            | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    115000 | PA      | $112986.35    | 0.51%             | 2027-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Amkor Technology Inc                           | Amkor Technology Inc                                                             | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60209.40     | 0.27%             | 2027-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| GTCR AP Finance Inc                            | GTCR AP Finance Inc                                                              | CUSIP: 40060QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $54006.70     | 0.24%             | 2027-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| LINDBLAD EXPEDITIONS LLC                       | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41124.72     | 0.19%             | 2027-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FTAI INFRA ESC HLDGS LLC                       | FTAI Infra Escrow Holdings LLC                                                   | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $60403.80     | 0.27%             | 2027-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| SBA COMMUNICATIONS CORP                        | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |    175000 | PA      | $161661.50    | 0.73%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Murphy Oil USA Inc                             | Murphy Oil USA Inc                                                               | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34367.90     | 0.16%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                              | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    140000 | PA      | $134096.20    | 0.61%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AFFINITY GAMING                                | Affinity Gaming                                                                  | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $59941.55     | 0.27%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| PROMONTORIA HOLDING                            | Promontoria Holding 264 BV                                                       | CUSIP: 74349MAA4<br>LEI: 54930014SXEXD3RX1509 | Long             | DBT              | CORP              | NL        |     45000 | PA      | $42554.25     | 0.19%             | 2027-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| CMG MEDIA CORPORATION                          | CMG Media Corp                                                                   | CUSIP: 88146LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    121000 | PA      | $94601.43     | 0.43%             | 2027-12-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ACADEMY LTD                                    | Academy Ltd                                                                      | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |     45000 | PA      | $43586.55     | 0.20%             | 2027-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Brink's Co/The                                 | Brink's Co/The                                                                   | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65662.10     | 0.30%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY OPERATING                       | NextEra Energy Operating Partners LP                                             | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61230.00     | 0.28%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                       | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $58744.20     | 0.27%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                   | SM Energy Co                                                                     | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48826.00     | 0.22%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                       | Olympus Water US Holding Corp                                                    | CUSIP: 16308NAA2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39170.80     | 0.18%             | 2027-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| FirstEnergy Corp                               | FirstEnergy Corp                                                                 | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    174000 | PA      | $166269.18    | 0.75%             | 2027-07-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    145000 | PA      | $153917.50    | 0.70%             | 2027-08-15      | Fixed         | 11.63%                | No            |                  2 | On Loan: —       |
| CATALENT PHARMA SOLUTION                       | Catalent Pharma Solutions Inc                                                    | CUSIP: 14879EAE8<br>LEI: 549300HALRZ339MSTH85 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56994.00     | 0.26%             | 2027-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                          | Bausch Health Cos Inc                                                            | CUSIP: 071734AP2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $81813.60     | 0.37%             | 2027-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                         | MGM China Holdings Ltd                                                           | CUSIP: 55300RAG6<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |     90000 | PA      | $80795.70     | 0.37%             | 2027-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                        | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $43423.65     | 0.20%             | 2027-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                        | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $99172.50     | 0.45%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC                             | AMN Healthcare Inc                                                               | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55654.80     | 0.25%             | 2027-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                         | Calumet Specialty Products Partners LP / Calumet Finance Corp                    | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $38865.60     | 0.18%             | 2027-01-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Teleflex Inc                                   | Teleflex Inc                                                                     | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |     60000 | PA      | $57322.20     | 0.26%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     60000 | PA      | $66381.00     | 0.30%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                       | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |     88000 | PA      | $67204.72     | 0.30%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $113530.30    | 0.51%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PACTIV EVERGREEN GROUP                         | Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC              | CUSIP: 76174LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $107800.80    | 0.49%             | 2027-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Getty Images Inc                               | Getty Images Inc                                                                 | CUSIP: 374276AJ2<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34723.15     | 0.16%             | 2027-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65333.80     | 0.30%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                      | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |     90000 | PA      | $87028.20     | 0.39%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DANA INC                                       | Dana Inc                                                                         | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42943.05     | 0.19%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     80000 | PA      | $75164.00     | 0.34%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| ALTICE FRANCE SA                               | Altice France SA/France                                                          | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    205000 | PA      | $192130.10    | 0.87%             | 2027-02-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Staples Inc                                    | Staples Inc                                                                      | CUSIP: 855030AP7<br>LEI: XQM2JINI1UL7642TU573 | Long             | DBT              | CORP              | US        |    120000 | PA      | $90913.20     | 0.41%             | 2027-04-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| BLACKSTONE MORTGAGE TR                         | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |     45000 | PA      | $39706.20     | 0.18%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                               | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     41000 | PA      | $36996.76     | 0.17%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| UBER TECHNOLOGIES INC                          | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    140000 | PA      | $142098.60    | 0.64%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                   | Navient Corp                                                                     | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     85000 | PA      | $77640.70     | 0.35%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                                | MEG Energy Corp                                                                  | CUSIP: 552704AE8<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $76944.00     | 0.35%             | 2027-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                       | Moss Creek Resources Holdings Inc                                                | CUSIP: 61965RAB1<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53424.25     | 0.24%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ATI INC                                        | ATI Inc                                                                          | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38691.20     | 0.17%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    155000 | PA      | $145793.00    | 0.66%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     35000 | PA      | $32598.65     | 0.15%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SPCM SA                                        | SPCM SA                                                                          | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |     40000 | PA      | $35266.80     | 0.16%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                               | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $118457.20    | 0.54%             | 2027-07-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc                               | Berry Global Inc                                                                 | CUSIP: 085770AB1<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58983.00     | 0.27%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| UNISYS CORP                                    | Unisys Corp                                                                      | CUSIP: 909214BV9<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |     60000 | PA      | $45486.00     | 0.21%             | 2027-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                        | International Game Technology PLC                                                | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |     88000 | PA      | $88357.28     | 0.40%             | 2027-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BK7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    120000 | PA      | $104265.60    | 0.47%             | 2027-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                            | Century Communities Inc                                                          | CUSIP: 156504AL6<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |     61000 | PA      | $60379.02     | 0.27%             | 2027-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    225000 | PA      | $199138.50    | 0.90%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/XO MGMT                         | VistaJet Malta Finance PLC / XO Management Holding Inc                           | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     60000 | PA      | $58061.40     | 0.26%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| TRI POINTE HOMES INC                           | Tri Pointe Homes Inc                                                             | CUSIP: 87265HAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     35000 | PA      | $32941.30     | 0.15%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $37614.40     | 0.17%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ODEON FINCO PLC                                | Odeon Finco PLC                                                                  | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |     45000 | PA      | $41480.55     | 0.19%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| SPEEDWAY MOT/SPEEDWAY FD                       | Speedway Motorsports LLC / Speedway Funding II Inc                               | CUSIP: 84779MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $37556.00     | 0.17%             | 2027-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Darling Ingredients Inc                        | Darling Ingredients Inc                                                          | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |     59000 | PA      | $57533.26     | 0.26%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CASTLELAKE AVIATION FIN                        | Castlelake Aviation Finance DAC                                                  | CUSIP: 14856HAA6<br>LEI: 2138006F7SMD1COVC345 | Long             | DBT              | CORP              | IE        |     50000 | PA      | $45591.50     | 0.21%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    141000 | PA      | $141785.37    | 0.64%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                                              | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |     45000 | PA      | $40702.05     | 0.18%             | 2027-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    155000 | PA      | $150199.65    | 0.68%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Olin Corp                                      | Olin Corp                                                                        | CUSIP: 680665AJ5<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58254.60     | 0.26%             | 2027-09-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| NEXSTAR BROADCASTING INC                       | Nexstar Media Inc                                                                | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    210000 | PA      | $200062.80    | 0.90%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| KB Home                                        | KB Home                                                                          | CUSIP: 48666KAX7<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35783.30     | 0.16%             | 2027-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CoreCivic Inc                                  | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26307.60     | 0.12%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                            | CUSIP: 527298BP7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     90000 | PA      | $77950.80     | 0.35%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MOTION BONDCO DAC                              | Motion Bondco DAC                                                                | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |     50000 | PA      | $45201.00     | 0.20%             | 2027-11-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| ENERFLEX LTD                                   | Enerflex Ltd                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $76350.75     | 0.35%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                                 | HB Fuller Co                                                                     | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32513.95     | 0.15%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                 | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |     72000 | PA      | $70781.76     | 0.32%             | 2027-05-13      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| SERVICE CORP INTL                              | Service Corp International/US                                                    | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     65000 | PA      | $62112.70     | 0.28%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CNX Resources Corp                             | CNX Resources Corp                                                               | CUSIP: 12653CAC2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     43000 | PA      | $42806.50     | 0.19%             | 2027-03-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    161000 | PA      | $152824.42    | 0.69%             | 2027-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Bausch Health Cos Inc                          | Bausch Health Cos Inc                                                            | CUSIP: 071734AC1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     57000 | PA      | $38443.65     | 0.17%             | 2027-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                        | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $43872.75     | 0.20%             | 2027-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| UNIVAR SOLUTIONS USA INC                       | Univar Solutions USA Inc/Washington                                              | CUSIP: 91337CAA4<br>LEI: 5493008FTB9VZW6CVA82 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58255.80     | 0.26%             | 2027-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| SIX FLAGS ENTERTAINMENT                        | Six Flags Entertainment Corp                                                     | CUSIP: 83001AAC6<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |     61000 | PA      | $57573.63     | 0.26%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| TK ELEVATOR US NEWCO INC                       | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    185000 | PA      | $170940.00    | 0.77%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                          | American Airlines 2015-1 Class A Pass Through Trust                              | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70089 | PA      | $60346.35     | 0.27%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: —       |
| PENN ENTERTAINMENT INC                         | Penn Entertainment Inc                                                           | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $42289.65     | 0.19%             | 2027-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                                             | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76293.75     | 0.34%             | 2027-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| LEGACY LIFEPOINT HEALTH                        | Legacy LifePoint Health LLC                                                      | CUSIP: 53219LAS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $61197.50     | 0.28%             | 2027-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                                | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     70000 | PA      | $66586.80     | 0.30%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| XPO ESCROW SUB LLC                             | XPO Escrow Sub LLC                                                               | CUSIP: 98379JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $41107.20     | 0.19%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     65000 | PA      | $63906.05     | 0.29%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| PRIME SECSRVC BRW/FINANC                       | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $104094.90    | 0.47%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HORIZON THERAPEUTICS USA                       | Horizon Therapeutics USA Inc                                                     | CUSIP: 44055PAA4<br>LEI: 254900IS87RLPXY88S03 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71467.20     | 0.32%             | 2027-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRIES INC                        | Standard Industries Inc/NJ                                                       | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95227.00     | 0.43%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co                         | Southwestern Energy Co                                                           | CUSIP: 845467AN9<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |     50000 | PA      | $52138.00     | 0.24%             | 2027-10-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                                     | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    175000 | PA      | $171456.25    | 0.78%             | 2027-06-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55557.60     | 0.25%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                        | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |    175000 | PA      | $139093.50    | 0.63%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                         | Match Group Holdings II LLC                                                      | CUSIP: 57665RAG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     52000 | PA      | $49870.60     | 0.23%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd                          | Mineral Resources Ltd                                                            | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     80000 | PA      | $80666.40     | 0.36%             | 2027-05-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI                       | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op  | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $59028.48     | 0.27%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| GO DADDY OPCO/FINCO                            | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $67804.80     | 0.31%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $66948.70     | 0.30%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                      | Nokia Oyj                                                                        | CUSIP: 654902AE5<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |     60000 | PA      | $57799.20     | 0.26%             | 2027-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    175000 | PA      | $183526.00    | 0.83%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     48000 | PA      | $45141.60     | 0.20%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| ROLLS-ROYCE PLC                                | Rolls-Royce PLC                                                                  | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    120000 | PA      | $116714.40    | 0.53%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MIDCONTINENT COMM & FIN                        | Midcontinent Communications / Midcontinent Finance Corp                          | CUSIP: 59565XAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $37928.40     | 0.17%             | 2027-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY COR                       | Garda World Security Corp                                                        | CUSIP: 36257BAA7<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $69442.10     | 0.31%             | 2027-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AL8<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |     62000 | PA      | $58431.28     | 0.26%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                       | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    230000 | PA      | $229312.30    | 1.04%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| CERDIA FINANZ GMBH                             | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAA0<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |     70000 | PA      | $59378.90     | 0.27%             | 2027-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                          | Freedom Mortgage Corp                                                            | CUSIP: 35640YAG2<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     70000 | PA      | $58256.10     | 0.26%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HOLLY NRG PRTNR/FIN CORP                       | Holly Energy Partners LP / Holly Energy Finance Corp                             | CUSIP: 435765AJ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $44572.50     | 0.20%             | 2027-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                                 | William Carter Co/The                                                            | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58543.20     | 0.26%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Iron Mountain Inc                              | Iron Mountain Inc                                                                | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    120000 | PA      | $113234.40    | 0.51%             | 2027-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Sirius XM Radio Inc                            | Sirius XM Radio Inc                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    175000 | PA      | $165609.50    | 0.75%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                    | CUSIP: 893647BL0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    312000 | PA      | $297953.76    | 1.35%             | 2027-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                 | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    225000 | PA      | $224997.75    | 1.02%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| MURPHY OIL CORP                                | Murphy Oil Corp                                                                  | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64092.60     | 0.29%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                       | Performance Food Group Inc                                                       | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    123000 | PA      | $118701.15    | 0.54%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                               | MGM Resorts International                                                        | CUSIP: 552953CF6<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |     78000 | PA      | $75351.90     | 0.34%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Park-Ohio Industries Inc                       | Park-Ohio Industries Inc                                                         | CUSIP: 700677AR8<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |     45000 | PA      | $33321.60     | 0.15%             | 2027-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                         | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     70000 | PA      | $70002.80     | 0.32%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                           | GrubHub Holdings Inc                                                             | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     58000 | PA      | $46560.08     | 0.21%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     88000 | PA      | $76866.24     | 0.35%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                                           | CUSIP: 156700BC9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    145000 | PA      | $122382.90    | 0.55%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                       | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53878.80     | 0.24%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     89000 | PA      | $81617.45     | 0.37%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                       | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AK1<br>LEI: JJAX4X60DE65EYFOTY73 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38712.40     | 0.18%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                       | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AM8<br>LEI: N/A                  | Long             | DBT              |  | US        |     75000 | PA      | $66093.00     | 0.30%             | 2027-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    110000 | PA      | $101744.50    | 0.46%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| NORTHWEST FIBER LLC/NORT                       | Northwest Fiber LLC / Northwest Fiber Finance Sub Inc                            | CUSIP: 667449AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $36529.20     | 0.17%             | 2027-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                       | Altice France Holding SA                                                         | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |    185000 | PA      | $158787.35    | 0.72%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     95000 | PA      | $77812.60     | 0.35%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                               | LPL Holdings Inc                                                                 | CUSIP: 50212YAC8<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |     45000 | PA      | $42822.45     | 0.19%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                       | Compass Minerals International Inc                                               | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58890.60     | 0.27%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    170000 | PA      | $159026.50    | 0.72%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| APX GROUP INC                                  | APX Group Inc                                                                    | CUSIP: 00213MAV6<br>LEI: 549300OMQVKPRU98OE64 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68625.20     | 0.31%             | 2027-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                                                   | CUSIP: 67623CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $30609.60     | 0.14%             | 2027-02-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    140000 | NS      | $140000.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AMSTED INDUSTRIES                              | Amsted Industries Inc                                                            | CUSIP: 032177AH0<br>LEI: N2VLGYMEEBIU3PFSUY86 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44235.45     | 0.20%             | 2027-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60165.60     | 0.27%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| QVC INC                                        | QVC Inc                                                                          | CUSIP: 747262AY9<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |     70000 | PA      | $53067.00     | 0.24%             | 2027-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                         | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $69966.40     | 0.32%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                           | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     85000 | PA      | $79305.85     | 0.36%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer