# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-012290
**Filing Date:** 2023-1
**Character Count:** 146774
**Document Hash:** 53c1934486e5b7d566c4594413d14405
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-012290.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001752724-23-012290

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**PERIOD START**: 20230228

**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:** 23551445

**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 High Yield Bond Factor ETF (Series ID: S000057341)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000182992 | iShares High Yield Bond Factor ETF | HYDB            |

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) | **iShares<sup>®</sup> High Yield Bond Factor ETF** |
| November 30, 2022 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Corporate Bonds & Notes** |  |  |
| **Advertising — 0.5%** |  |  |
| Advantage Sales & Marketing Inc., 6.50%, 11/15/28 (Call 11/15/23)<sup>(a)(b)</sup> | $755 | $591029 |
| **Aerospace & Defense — 3.5%** |  |  |
| Bombardier Inc., 7.88%, 04/15/27 (Call 01/03/23)<sup>(a)</sup> | 865 | 850935 |
| Rolls-Royce PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 10/14/25 (Call 07/14/25)<sup>(a)(b)</sup> | 200 | 183500 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 10/15/27 (Call 07/15/27)<sup>(a)</sup> | 865 | 822996 |
| Spirit AeroSystems Inc., 7.50%, 04/15/25 (Call 01/03/23)<sup>(a)</sup> | 855 | 845809 |
| TransDigm Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 03/15/26 (Call 01/03/23)<sup>(a)</sup> | 845 | 840893 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 12/15/25 (Call 01/03/23)<sup>(a)</sup> | 220 | 223850 |
| TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 01/03/23) | 125 | 123207 |
|  |  | 3891190 |
| **Agriculture — 0.9%** |  |  |
| Vector Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 02/01/29 (Call 02/01/24)<sup>(a)</sup> | 850 | 738284 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 11/01/26 (Call 01/03/23)<sup>(a)</sup> | 234 | 234585 |
|  |  | 972869 |
| **Airlines — 3.1%** |  |  |
| Air Canada, 3.88%, 08/15/26 (Call 02/15/26)<sup>(a)</sup> | 950 | 869251 |
| American Airlines Group Inc., 3.75%, 03/01/25<sup>(a)(b)</sup> | 405 | 354531 |
| American Airlines Inc., 11.75%, 07/15/25<sup>(a)</sup> | 690 | 766268 |
| Azul Investments LLP, 7.25%, 06/15/26 (Call 06/15/24)<sup>(a)(b)</sup> | 775 | 528996 |
| Delta Air Lines Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/19/28 (Call 01/19/28)<sup>(b)</sup> | 355 | 324415 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 01/15/26 (Call 12/15/25)<sup>(b)</sup> | 600 | 619848 |
|  |  | 3463309 |
| **Auto Manufacturers — 2.1%** |  |  |
| Allison Transmission Inc., 5.88%, 06/01/29 (Call 06/01/24)<sup>(a)</sup> | 245 | 231584 |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.29%, 12/08/46 (Call 06/08/46) | 455 | 359464 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.63%, 04/22/30 (Call 01/22/30)<sup>(b)</sup> | 210 | 240393 |
| Ford Motor Credit Co. LLC, 5.58%, 03/18/24 (Call 02/18/24) | 600 | 593250 |
| Jaguar Land Rover Automotive PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 10/01/27 (Call 07/01/27)<sup>(a)(b)</sup> | 565 | 431707 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/15/29 (Call 07/15/24)<sup>(a)</sup> | 575 | 411044 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 01/15/28 (Call 01/15/24)<sup>(a)</sup> | 135 | 103950 |
|  |  | 2371392 |
| **Banks — 1.1%** |  |  |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/01/42 (Call 06/01/41)<sup>(a)(c)</sup> | 460 | 302384 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.02%, 06/26/24<sup>(a)</sup> | 375 | 361257 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.71%, 01/15/26<sup>(a)(b)</sup> | 625 | 603842 |
|  |  | 1267483 |
| **Biotechnology — 0.6%** |  |  |
| Grifols Escrow Issuer SA, 4.75%, 10/15/28 (Call 10/15/24)<sup>(a)</sup> | 745 | 626083 |
| **Building Materials — 0.5%** |  |  |
| Builders FirstSource Inc., 6.38%, 06/15/32 (Call 06/15/27)<sup>(a)</sup> | 635 | 586656 |
| **Chemicals — 3.0%** |  |  |
| Avient Corp., 5.75%, 05/15/25 (Call 01/03/23)<sup>(a)(b)</sup> | 455 | 443616 |
| CVR Partners LP/CVR Nitrogen Finance Corp., 6.13%, 06/15/28 (Call 06/15/24)<sup>(a)</sup> | 500 | 451465 |
| EverArc Escrow Sarl, 5.00%, 10/30/29 (Call 10/30/24)<sup>(a)</sup> | 675 | 540000 |
| Methanex Corp., 5.25%, 12/15/29 (Call 09/15/29) | 165 | 147368 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Chemicals (continued)** |  |  |
| Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 04/01/25 (Call 01/03/23)<sup>(a)(b)</sup> | $510 | $464120 |
| Rayonier AM Products Inc., 7.63%, 01/15/26 (Call 01/15/24)<sup>(a)</sup> | 415 | 391137 |
| Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, 03/18/31 (Call 03/18/30) | 200 | 165963 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 03/27/24 (Call 02/27/24)<sup>(b)</sup> | 830 | 824190 |
|  |  | 3427859 |
| **Coal — 0.6%** |  |  |
| SunCoke Energy Inc., 4.88%, 06/30/29 (Call 06/30/24)<sup>(a)</sup> | 515 | 436275 |
| Warrior Met Coal Inc., 7.88%, 12/01/28 (Call 12/01/24)<sup>(a)</sup> | 215 | 213234 |
|  |  | 649509 |
| **Commercial Services — 5.9%** |  |  |
| ADT Security Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 08/01/29 (Call 08/01/28)<sup>(a)</sup> | 485 | 423313 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 07/15/32<sup>(a)</sup> | 730 | 631603 |
| Adtalem Global Education Inc., 5.50%, 03/01/28 (Call 03/01/24)<sup>(a)(b)</sup> | 268 | 249240 |
| Deluxe Corp., 8.00%, 06/01/29 (Call 06/01/24)<sup>(a)(b)</sup> | 500 | 413750 |
| Graham Holdings Co., 5.75%, 06/01/26 (Call 12/12/22)<sup>(a)</sup> | 119 | 116025 |
| Korn Ferry, 4.63%, 12/15/27 (Call 01/03/23)<sup>(a)</sup> | 220 | 201120 |
| NESCO Holdings II Inc., 5.50%, 04/15/29 (Call 04/15/24)<sup>(a)</sup> | 880 | 774145 |
| Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 12/16/22)<sup>(a)</sup> | 534 | 528660 |
| &nbsp;&nbsp;&nbsp;Prime Security Services Borrower LLC/Prime Finance Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/15/26<sup>(a)</sup> | 683 | 676170 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 01/15/28 (Call 01/15/23)<sup>(a)(b)</sup> | 610 | 567300 |
| Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 01/03/23)<sup>(a)</sup> | 340 | 334900 |
| Sabre GLBL Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 09/01/25 (Call 01/03/23)<sup>(a)</sup> | 655 | 623887 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.25%, 04/15/25 (Call 03/16/25)<sup>(a)(b)</sup> | 330 | 329175 |
| United Rentals North America Inc., 4.88%, 01/15/28 (Call 01/15/23) | 385 | 369238 |
| ZipRecruiter Inc., 5.00%, 01/15/30 (Call 01/15/25)<sup>(a)</sup> | 555 | 453180 |
|  |  | 6691706 |
| **Computers — 0.4%** |  |  |
| Conduent Business Services LLC/Conduent State & Local |  |  |
| Solutions Inc., 6.00%, 11/01/29 (Call 11/01/24)<sup>(a)</sup> | 515 | 422300 |
| **Cosmetics & Personal Care — 0.9%** |  |  |
| Coty Inc., 5.00%, 04/15/26 (Call 04/15/23)<sup>(a)(b)</sup> | 570 | 546482 |
| Coty Inc./HFC Prestige Products Inc./HFC Prestige |  |  |
| International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)<sup>(a)</sup> | 495 | 440550 |
|  |  | 987032 |
| **Diversified Financial Services — 6.5%** |  |  |
| Burford Capital Global Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/15/28 (Call 04/15/24)<sup>(a)(b)</sup> | 250 | 229080 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/30 (Call 04/15/25)<sup>(a)</sup> | 325 | 294418 |
| Coinbase Global Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.38%, 10/01/28 (Call 10/01/24)<sup>(a)(b)</sup> | 1230 | 718910 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 10/01/31 (Call 10/01/26)<sup>(a)</sup> | 250 | 135000 |
| Credit Acceptance Corp., 6.63%, 03/15/26 (Call 12/12/22)<sup>(b)</sup> | 205 | 193725 |
| Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)<sup>(a)</sup> | 650 | 631950 |
| goeasy Ltd., 5.38%, 12/01/24 (Call 01/03/23)<sup>(a)</sup> | 480 | 454800 |
| Nationstar Mortgage Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 12/15/30 (Call 12/15/25)<sup>(a)</sup> | 620 | 483355 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/15/28 (Call 08/15/23)<sup>(a)</sup> | 25 | 20964 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 11/15/31 (Call 11/15/26)<sup>(a)</sup> | 620 | 495765 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.38%, 11/15/29 (Call 05/15/29) | 25 | 20880 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 01/15/28 (Call 07/15/27)<sup>(b)</sup> | 70 | 64365 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> High Yield Bond Factor ETF** |
| November 30, 2022 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Diversified Financial Services (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;6.88%, 03/15/25 | $605 | $587634 |
| &nbsp;&nbsp;&nbsp;7.13%, 03/15/26 | 910 | 881603 |
| (PennyMac Financial Services Inc., 5.75%, 09/15/31Call 09/15/26)<sup>(a)</sup> | 400 | 319888 |
| PRA Group Inc., 5.00%, 10/01/29 (Call 10/01/24)<sup>(a)(b)</sup> | 220 | 182787 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 03/01/31 (Call 03/01/26)<sup>(a)</sup> | 1170 | 905048 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 10/15/33 (Call 10/15/27)<sup>(a)</sup> | 305 | 224175 |
| SLM Corp., 3.13%, 11/02/26 (Call 10/02/26) | 500 | 430000 |
|  |  | 7274347 |
| **Electric — 3.6%** |  |  |
| Drax Finco PLC, 6.63%, 11/01/25 (Call 12/12/22)<sup>(a)</sup> | 446 | 422585 |
| Enerflex Ltd., 9.00%, 10/15/27 | 575 | 568083 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;Series C, 3.40%, 03/01/50 (Call 09/01/49) | 625 | 416144 |
| &nbsp;&nbsp;&nbsp;Series C, 5.35%, 07/15/47 (Call 01/15/47) | 284 | 250238 |
| Mercury Chile Holdco LLC, 6.50%, 01/24/27 (Call 01/24/24)<sup>(a)</sup> | 225 | 198992 |
| NRG Energy Inc., 5.75%, 01/15/28 (Call 01/15/23)<sup>(b)</sup> | 400 | 383000 |
| PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 07/01/28 (Call 07/01/23) | 925 | 853414 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 07/01/30 (Call 07/01/25)<sup>(b)</sup> | 185 | 167515 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 09/01/26 (Call 12/12/22)<sup>(a)</sup> | 500 | 483865 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 02/15/27 (Call 12/12/22)<sup>(a)</sup> | 310 | 299910 |
|  |  | 4043746 |
| **Electrical Components & Equipment — 0.9%** |  |  |
| Energizer Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 03/31/29 (Call 09/30/23)<sup>(a)</sup> | 575 | 489164 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 06/15/28 (Call 06/15/23)<sup>(a)</sup> | 620 | 540603 |
|  |  | 1029767 |
| **Energy - Alternate Sources — 0.5%** |  |  |
| Enviva Partners LP/Enviva Partners Finance Corp., 6.50%, 01/15/26 (Call 01/03/23)<sup>(a)(b)</sup> | 650 | 619711 |
| **Engineering & Construction — 0.8%** |  |  |
| AECOM, 5.13%, 03/15/27 (Call 12/15/26) | 735 | 715067 |
| Brundage-Bone Concrete Pumping Holdings Inc., 6.00%, 02/01/26 (Call 02/01/23)<sup>(a)</sup> | 215 | 199950 |
|  |  | 915017 |
| **Entertainment — 3.2%** |  |  |
| (AMC Entertainment Holdings Inc., 7.50%, 02/15/29 Call 02/15/25)<sup>(a)</sup> | 905 | 515696 |
| Live Nation Entertainment Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 11/01/24 (Call 01/03/23)<sup>(a)(b)</sup> | 225 | 221483 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 05/15/27 (Call 05/15/23)<sup>(a)(b)</sup> | 740 | 741401 |
| &nbsp;&nbsp;&nbsp;Odeon Finco PLC, 12.75%, 11/01/27 | 365 | 313473 |
| Resorts World Las Vegas LLC/RWLV Capital Inc., 4.63%, 04/16/29 (Call 01/16/29)<sup>(a)</sup> | 1190 | 808698 |
| (Universal Entertainment Corp., 8.50%, 12/11/24 Call 12/11/23)<sup>(a)(b)</sup> | 530 | 488945 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.75%, 04/15/25 (Call 01/03/23)<sup>(a)(b)</sup> | 515 | 516092 |
|  |  | 3605788 |
| **Environmental Control — 0.8%** |  |  |
| GFL Environmental Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 09/01/28 (Call 03/01/28)<sup>(a)</sup> | 683 | 607515 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 12/15/26 (Call 01/03/23)<sup>(a)</sup> | 310 | 298517 |
|  |  | 906032 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Food — 0.3%** |  |  |
| B&G Foods Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 04/01/25 (Call 01/03/23) | $190 | $167639 |
| &nbsp;&nbsp;&nbsp;5.25%, 09/15/27 (Call 01/03/23) | 230 | 185012 |
|  |  | 352651 |
| **Gas — 0.8%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.63%, 05/20/24 (Call 03/20/24) | 465 | 458606 |
| &nbsp;&nbsp;&nbsp;5.75%, 05/20/27 (Call 02/20/27) | 401 | 382554 |
| &nbsp;&nbsp;&nbsp;5.88%, 08/20/26 (Call 05/20/26) | 85 | 80963 |
|  |  | 922123 |
| **Health Care - Products — 0.3%** |  |  |
| Garden Spinco Corp., 8.63%, 07/20/30 (Call 07/20/27)<sup>(a)</sup> | 275 | 291952 |
| **Health Care - Services — 1.0%** |  |  |
| DaVita Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/31 (Call 02/15/26)<sup>(a)</sup> | 375 | 275625 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 06/01/30 (Call 06/01/25)<sup>(a)</sup> | 1060 | 858049 |
|  |  | 1133674 |
| **Holding Companies - Diversified — 1.3%** |  |  |
| Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)<sup>(a)(b)</sup> | 240 | 209817 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 05/15/27 (Call 11/15/26) | 505 | 465100 |
| &nbsp;&nbsp;&nbsp;6.25%, 05/15/26 (Call 01/03/23) | 700 | 690949 |
| &nbsp;&nbsp;&nbsp;6.38%, 12/15/25 (Call 01/03/23) | 155 | 151383 |
|  |  | 1517249 |
| **Home Builders — 1.1%** |  |  |
| Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/15/30 (Call 02/15/25)<sup>(a)</sup> | 535 | 421596 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 09/15/27 (Call 01/03/23)<sup>(a)</sup> | 540 | 480590 |
| TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24 | 346 | 345430 |
|  |  | 1247616 |
| **Housewares — 0.4%** |  |  |
| Newell Brands Inc., 6.00%, 04/01/46 (Call 10/01/45)<sup>(b)</sup> | 650 | 500500 |
| **Insurance — 0.2%** |  |  |
| NMI Holdings Inc., 7.38%, 06/01/25 (Call 03/30/25)<sup>(a)</sup> | 201 | 202079 |
| **Internet — 2.4%** |  |  |
| Gen Digital Inc., 5.00%, 04/15/25 (Call 12/12/22)<sup>(a)</sup> | 690 | 669300 |
| GrubHub Holdings Inc., 5.50%, 07/01/27 (Call 12/12/22)<sup>(a)</sup> | 645 | 484958 |
| TripAdvisor Inc., 7.00%, 07/15/25 (Call 12/12/22)<sup>(a)</sup> | 430 | 424675 |
| Uber Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 05/15/25 (Call 01/03/23)<sup>(a)</sup> | 350 | 352121 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 09/15/27 (Call 01/03/23)<sup>(a)</sup> | 760 | 763952 |
|  |  | 2695006 |
| **Iron & Steel — 1.7%** |  |  |
| Cleveland-Cliffs Inc., 5.88%, 06/01/27 (Call 01/03/23)<sup>(b)</sup> | 450 | 425970 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.13%, 05/01/27 (Call 01/03/23)<sup>(a)</sup> | 593 | 600265 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 05/01/30 (Call 05/01/25)<sup>(a)</sup> | 430 | 438583 |
| U.S. Steel Corp., 6.88%, 03/01/29 (Call 03/01/24)<sup>(b)</sup> | 420 | 409668 |
|  |  | 1874486 |
| **Leisure Time — 4.2%** |  |  |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.63%, 03/01/26 (Call 03/01/24)<sup>(a)(b)</sup> | 1005 | 846712 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.88%, 08/01/27 (Call 02/01/24)<sup>(a)</sup> | 350 | 341626 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 02/01/26 (Call 08/01/23)<sup>(a)</sup> | 515 | 521232 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> High Yield Bond Factor ETF** |
| November 30, 2022 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Leisure Time (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 06/01/30 (Call 06/01/25)<sup>(a)</sup> | $125 | $107018 |
| NCL Corp. Ltd., 5.88%, 02/15/27 (Call 02/15/24)<sup>(a)</sup> | 920 | 819104 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/01/26 (Call 01/01/26)<sup>(a)(b)</sup> | 505 | 418352 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/31/26 (Call 02/28/26)<sup>(a)</sup> | 1095 | 949912 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.63%, 08/15/27 (Call 08/15/24)<sup>(a)(b)</sup> | 330 | 339075 |
| Vista Outdoor Inc., 4.50%, 03/15/29 (Call 03/15/24)<sup>(a)</sup> | 550 | 418000 |
|  |  | 4761031 |
| **Lodging — 2.1%** |  |  |
| Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)<sup>(a)</sup> | 500 | 445819 |
| Las Vegas Sands Corp., 3.20%, 08/08/24 (Call 07/08/24) | 200 | 191113 |
| Travel + Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 12/01/29 (Call 09/01/29)<sup>(a)(b)</sup> | 635 | 514641 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 07/31/26 (Call 04/30/26)<sup>(a)(b)</sup> | 550 | 538915 |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 05/15/27 (Call 02/15/27)<sup>(a)</sup> | 100 | 91610 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 03/01/25 (Call 12/01/24)<sup>(a)(b)</sup> | 555 | 532761 |
|  |  | 2314859 |
| **Machinery — 0.6%** |  |  |
| Vertiv Group Corp., 4.13%, 11/15/28 (Call 11/15/24)<sup>(a)(b)</sup> | 805 | 692300 |
| **Manufacturing — 0.4%** |  |  |
| LSB Industries Inc., 6.25%, 10/15/28 (Call 10/15/24)<sup>(a)</sup> | 520 | 485638 |
| **Media — 3.5%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/34 (Call 01/15/28)<sup>(a)</sup> | 1024 | 797696 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 06/01/33 (Call 06/01/27)<sup>(a)</sup> | 900 | 714249 |
| Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)<sup>(a)(b)</sup> | 920 | 844173 |
| GCI LLC, 4.75%, 10/15/28 (Call 10/15/23)<sup>(a)</sup> | 600 | 514038 |
| UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)<sup>(a)</sup> | 980 | 838013 |
| UPC Holding BV, 5.50%, 01/15/28 (Call 12/12/22)<sup>(a)</sup> | 200 | 178000 |
|  |  | 3886169 |
| **Mining — 4.7%** |  |  |
| Arconic Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 05/15/25 (Call 01/03/23)<sup>(a)(b)</sup> | 200 | 196986 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.13%, 02/15/28 (Call 02/15/23)<sup>(a)</sup> | 820 | 769939 |
| Eldorado Gold Corp., 6.25%, 09/01/29 (Call 09/01/24)<sup>(a)</sup> | 555 | 453146 |
| Endeavour Mining PLC, 5.00%, 10/14/26 (Call 10/14/23)<sup>(a)(b)</sup> | 515 | 429407 |
| First Quantum Minerals Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 03/01/26 (Call 12/12/22)<sup>(a)</sup> | 480 | 462830 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/01/25 (Call 12/12/22)<sup>(a)(b)</sup> | 680 | 670001 |
| FMG Resources August 2006 Pty Ltd., 5.13%, 05/15/24 (Call 02/15/24)<sup>(a)(b)</sup> | 570 | 565369 |
| Hecla Mining Co., 7.25%, 02/15/28 (Call 02/15/23) | 400 | 390142 |
| IAMGOLD Corp., 5.75%, 10/15/28 (Call 10/15/23)<sup>(a)</sup> | 525 | 372321 |
| Stillwater Mining Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 11/16/26 (Call 11/16/23)<sup>(a)</sup> | 600 | 523350 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 11/16/29 (Call 11/16/25)<sup>(a)</sup> | 550 | 440688 |
|  |  | 5274179 |
| **Oil & Gas — 8.1%** |  |  |
| Antero Resources Corp., 7.63%, 02/01/29 (Call 02/01/24)<sup>(a)</sup> | 341 | 347936 |
| California Resources Corp., 7.13%, 02/01/26 (Call 02/01/23)<sup>(a)</sup> | 515 | 500837 |
| Civitas Resources Inc., 5.00%, 10/15/26 (Call 10/15/23)<sup>(a)</sup> | 246 | 226701 |
| CNX Resources Corp., 7.25%, 03/14/27 (Call 01/03/23)<sup>(a)</sup> | 59 | 58779 |
| Earthstone Energy Holdings LLC, 8.00%, 04/15/27 (Call 04/15/24)<sup>(a)</sup> | 485 | 466973 |
| Energean PLC, 6.50%, 04/30/27 (Call 10/30/23)<sup>(a)(b)</sup> | 425 | 388739 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Oil & Gas (continued)** |  |  |
| Gulfport Energy Corp., 8.00%, 05/17/26 (Call 05/17/24)<sup>(b)</sup> | $240 | $239225 |
| Harbour Energy PLC, 5.50%, 10/15/26 (Call 10/15/23)<sup>(a)</sup> | 455 | 408590 |
| Ithaca Energy North Sea PLC, 9.00%, 07/15/26 (Call 07/15/23)<sup>(a)</sup> | 525 | 519750 |
| Kosmos Energy Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 04/04/26 (Call 12/12/22)<sup>(a)</sup> | 625 | 556309 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 03/01/28 (Call 03/01/24)<sup>(a)</sup> | 450 | 387455 |
| Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas |  |  |
| Finance Corp., 6.00%, 08/01/26 (Call 12/12/22)<sup>(a)</sup> | 120 | 116100 |
| Matador Resources Co., 5.88%, 09/15/26 (Call 12/16/22)<sup>(b)</sup> | 903 | 894403 |
| Oasis Petroleum Inc., 6.38%, 06/01/26 (Call 06/01/23)<sup>(a)</sup> | 240 | 234600 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;7.88%, 09/15/31 | 300 | 328500 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 07/15/27 (Call 01/15/27)<sup>(b)</sup> | 271 | 295390 |
| Patterson-UTI Energy Inc., 3.95%, 02/01/28 (Call 11/01/27)<sup>(b)</sup> | 310 | 275175 |
| PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.00%, 02/15/28 (Call 02/15/23) | 435 | 397051 |
| &nbsp;&nbsp;&nbsp;7.25%, 06/15/25 (Call 01/03/23) | 610 | 606492 |
| PDC Energy Inc., 5.75%, 05/15/26 (Call 01/03/23) | 365 | 348637 |
| Sunoco LP/Sunoco Finance Corp., 6.00%, 04/15/27 (Call 01/03/23) | 515 | 507731 |
| Talos Production Inc., 12.00%, 01/15/26 (Call 01/15/23) | 550 | 574750 |
| W&T Offshore Inc., 9.75%, 11/01/23 (Call 01/03/23)<sup>(a)</sup> | 500 | 494625 |
|  |  | 9174748 |
| **Oil & Gas Services — 2.6%** |  |  |
| Archrock Partners LP/Archrock Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 04/01/28 (Call 04/01/23)<sup>(a)(b)</sup> | 185 | 171588 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/01/27 (Call 01/03/23)<sup>(a)(b)</sup> | 430 | 416025 |
| Bristow Group Inc., 6.88%, 03/01/28 (Call 03/01/24)<sup>(a)(b)</sup> | 240 | 224176 |
| CGG SA, 8.75%, 04/01/27 (Call 04/01/24)<sup>(a)(b)</sup> | 425 | 357448 |
| USA Compression Partners LP/USA Compression |  |  |
| Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.88%, 04/01/26 (Call 01/03/23) | 650 | 622375 |
| &nbsp;&nbsp;&nbsp;6.88%, 09/01/27 (Call 01/03/23) | 360 | 343692 |
| Weatherford International Ltd., 8.63%, 04/30/30 (Call 10/30/24)<sup>(a)</sup> | 875 | 839125 |
|  |  | 2974429 |
| **Packaging & Containers — 1.2%** |  |  |
| Ardagh Metal Packaging Finance USA LLC/Ardagh Metal |  |  |
| Packaging Finance PLC, 3.25%, 09/01/28 (Call 05/15/24)<sup>(a)</sup> | 600 | 505969 |
| Berry Global Inc., 5.63%, 07/15/27 (Call 01/03/23)<sup>(a)(b)</sup> | 445 | 436100 |
| Graham Packaging Co. Inc., 7.13%, 08/15/28 (Call 08/15/23)<sup>(a)</sup> | 525 | 443844 |
|  |  | 1385913 |
| **Pharmaceuticals — 0.6%** |  |  |
| Elanco Animal Health Inc., 6.40%, 08/28/28 (Call 05/28/28) | 685 | 632618 |
| **Pipelines — 3.9%** |  |  |
| Antero Midstream Partners LP/Antero Midstream |  |  |
| Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 03/01/27 (Call 12/16/22)<sup>(a)</sup> | 490 | 467905 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.88%, 05/15/26 (Call 05/15/23)<sup>(a)</sup> | 465 | 474403 |
| Crestwood Midstream Partners LP/Crestwood Midstream |  |  |
| Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, 04/01/25 (Call 01/03/23) | 350 | 341207 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.00%, 04/01/29 (Call 04/01/24)<sup>(a)(b)</sup> | 380 | 382850 |
| Delek Logistics Partners LP/Delek Logistics Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.13%, 06/01/28 (Call 06/01/24)<sup>(a)</sup> | 235 | 217699 |
| EnLink Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;4.15%, 06/01/25 (Call 03/01/25) | 360 | 343494 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> High Yield Bond Factor ETF** |
| November 30, 2022 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *<br> Par <br> (000)* | *Value* |
| **Pipelines (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;5.45%, 06/01/47 (Call 12/01/46) | $210 | $170100 |
| (EQM Midstream Partners LP, 6.50%, 07/15/48 Call 01/15/48) | 215 | 166552 |
| Holly Energy Partners LP/Holly Energy Finance Corp., 5.00%, 02/01/28 (Call 02/01/23)<sup>(a)(b)</sup> | 465 | 423690 |
| New Fortress Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 09/30/26 (Call 03/31/23)<sup>(a)</sup> | 900 | 869809 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 09/15/25 (Call 12/21/22)<sup>(a)</sup> | 245 | 239299 |
| Western Midstream Operating LP, 5.50%, 02/01/50 (Call 08/01/49) | 345 | 281175 |
|  |  | 4378183 |
| **Real Estate — 1.1%** |  |  |
| Cushman & Wakefield U.S. Borrower, LLC, 6.75%, 05/15/28 (Call 05/15/23)<sup>(a)(b)</sup> | 560 | 534851 |
| WeWork Companies Inc., 7.88%, 05/01/25<sup>(a)</sup> | 830 | 423300 |
| WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)<sup>(a)</sup> | 625 | 275667 |
|  |  | 1233818 |
| **Real Estate Investment Trusts — 5.4%** |  |  |
| Apollo Commercial Real Estate Finance Inc., 4.63%, 06/15/29 (Call 06/15/24)<sup>(a)</sup> | 490 | 390163 |
| Brookfield Property REIT Inc./BPR Cumulus LLC/BPR |  |  |
| Nimbus LLC/GGSI Sellco LL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 04/01/27 (Call 10/01/23)<sup>(a)(b)</sup> | 95 | 83161 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 05/15/26 (Call 12/12/22)<sup>(a)(b)</sup> | 955 | 918070 |
| Iron Mountain Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/15/31 (Call 02/15/26)<sup>(a)</sup> | 160 | 133952 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/28 (Call 12/27/22)<sup>(a)(b)</sup> | 75 | 70125 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/15/32 (Call 07/15/26)<sup>(a)</sup> | 200 | 176678 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 05/15/29 (Call 05/15/24)<sup>(a)</sup> | 75 | 64227 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.88%, 10/01/28 (Call 10/01/23)<sup>(a)</sup> | 625 | 578794 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/25 (Call 01/03/23)<sup>(a)</sup> | 305 | 307288 |
| RLJ Lodging Trust LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 07/01/26 (Call 07/01/23)<sup>(a)</sup> | 475 | 432060 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 09/15/29 (Call 09/15/24)<sup>(a)</sup> | 460 | 385464 |
| &nbsp;&nbsp;&nbsp;Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.35%, 10/01/24 (Call 09/01/24) | 800 | 746640 |
| &nbsp;&nbsp;&nbsp;4.75%, 10/01/26 (Call 08/01/26) | 475 | 391732 |
| Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 7.88%, 02/15/25 (Call 01/03/23)<sup>(a)</sup> | 385 | 386618 |
| Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 04/15/28 (Call 04/15/24)<sup>(a)</sup> | 380 | 317380 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.50%, 02/15/29 (Call 02/15/24)<sup>(a)</sup> | 330 | 241725 |
| XHR LP, 6.38%, 08/15/25 (Call 12/12/22)<sup>(a)</sup> | 432 | 420478 |
|  |  | 6044555 |
| **Retail — 3.8%** |  |  |
| Arko Corp., 5.13%, 11/15/29 (Call 11/15/24)<sup>(a)</sup> | 480 | 381459 |
| Bath & Body Works Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.75%, 07/01/36 | 545 | 478575 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/01/35<sup>(b)</sup> | 845 | 764725 |
| Carvana Co., 5.50%, 04/15/27 (Call 04/15/24)<sup>(a)</sup> | 745 | 267388 |
| Dave & Buster's Inc., 7.63%, 11/01/25 (Call 01/03/23)<sup>(a)(b)</sup> | 251 | 252234 |
| FirstCash Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 09/01/28 (Call 09/01/23)<sup>(a)</sup> | 480 | 422378 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 01/01/30 (Call 01/01/25)<sup>(a)</sup> | 520 | 473012 |
| Gap Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 10/01/29 (Call 10/01/24)<sup>(a)</sup> | 325 | 249680 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 10/01/31 (Call 10/01/26)<sup>(a)(b)</sup> | 150 | 113250 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par/* <br> *Shares* <br> *(000)*  | *Value* |
| **Retail (continued)** |  |  |
| Macy's Retail Holdings LLC, 6.13%, 03/15/32 (Call 03/15/27)<sup>(a)(b)</sup> | $260 | $230812 |
| QVC Inc. |  |  |
| &nbsp;&nbsp;&nbsp;4.38%, 09/01/28 (Call 06/01/28) | 305 | 204350 |
| &nbsp;&nbsp;&nbsp;4.75%, 02/15/27 (Call 11/15/26) | 565 | 424126 |
|  |  | 4261989 |
| **Software — 1.0%** |  |  |
| MicroStrategy Inc., 6.13%, 06/15/28 (Call 06/15/24)<sup>(a)(b)</sup> | 500 | 369825 |
| Rackspace Technology Global Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/15/28 (Call 02/15/24)<sup>(a)</sup> | 700 | 479745 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 12/01/28 (Call 12/01/23)<sup>(a)</sup> | 550 | 250783 |
|  |  | 1100353 |
| **Telecommunications — 4.2%** |  |  |
| CommScope Inc., 8.25%, 03/01/27 (Call 01/03/23)<sup>(a)(b)</sup> | 835 | 716768 |
| Embarq Corp., 8.00%, 06/01/36 | 1575 | 669107 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 05/01/28 (Call 05/01/24)<sup>(a)(b)</sup> | 521 | 463690 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 05/01/29 (Call 05/01/24)<sup>(a)(b)</sup> | 200 | 168026 |
| Hughes Satellite Systems Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 08/01/26 | 425 | 405693 |
| &nbsp;&nbsp;&nbsp;6.63%, 08/01/26 | 449 | 417420 |
| Lumen Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/29 (Call 01/15/24)<sup>(a)</sup> | 25 | 16929 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 06/15/29 (Call 06/15/24)<sup>(a)(b)</sup> | 555 | 391969 |
| Sprint Capital Corp., 8.75%, 03/15/32. | 320 | 382608 |
| Sprint LLC |  |  |
| &nbsp;&nbsp;&nbsp;7.13%, 06/15/24 | 400 | 408473 |
| &nbsp;&nbsp;&nbsp;7.63%, 02/15/25 (Call 11/15/24) | 710 | 735435 |
|  |  | 4776118 |
| **Total Long-Term Investments — 96.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $118,541,552)** |  | 108457061 |
| **Short-Term Securities** |  |  |
| &nbsp;&nbsp;&nbsp;**Money Market Funds — 19.9%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.06%<sup>(d)(e)(f)</sup> | 21326 | 21328402 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 3.64%<sup>(d)(e)</sup> | 1040 | 1040000 |
| **Total Short-Term Securities — 19.9%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $22,361,381)** |  | 22368402 |
| **Total Investments — 116.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $140,902,933)** |  | 130825463 |
| **Liabilities in Excess of Other Assets — (16.2)%** |  | (18252857) |
| **NetAssets—100.0%** |  | $112572606 |

---

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

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

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

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

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> High Yield Bond Factor ETF** |
| November 30, 2022 |  |

---

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended November 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br> 02/28/22* | *Purchases<br> at Cost* | *Proceeds<br> from Sale* | *Net Realized<br> Gain (Loss)* | *Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | *Value at<br> 11/30/22* | *Shares<br> Held at<br> 11/30/22<br> (000)* | *Income* | *Capital Gain<br> Distributions from<br> Underlying Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares. | $16908997 | $4420822 <sup>(a)</sup> | $— | $(8274) | $6857 | $21328402 | 21326 | $118505 <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares. | 4590000 |  | (3550000)<sup>(a)</sup> |  |  | 1040000 | 1040 | 15840 |  |
|  |  |  |  | $(8274) | $6857 | $22368402 |  | $134345 | $— |

---

<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:

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

&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;• 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.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | $— | $108457061 | $— | $108457061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 22368402 |  |  | 22368402 |
|  | $22368402 | $108457061 | $— | $130825463 |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| 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 High Yield Bond Factor ETF

- **b. EDGAR series identifier (if any):** S000057341

- **c. LEI of Series:** 54930005IQ49IXN46616

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $156038626.12

**Total Liabilities:** $43428428.15

**Net Assets:** $112610197.97

**Cash Not Reported:** $925.80

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.21000000 | **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:** 0.00000000 | **1-Year:** 3037.16000000 | **5-Year:** 30415.99000000 | **10-Year:** 5650.53000000 | **30-Year:** 3072.37000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000182992 | -4.12%               | 2.89%                | 1.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-225239.69              | $-5257247.94                               |
| Month 2  | $-1030359.88             | $3562439.82                                |
| Month 3  | $-469927.23              | $1739122.33                                |

**Designated Index Information**

- **Index Name:** BlackRock High Yield Defensive Bond Index

- **Index Identifier:** RFSUSHYC

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $714249.00    | 0.63%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                      | PG&E Corp                                                                        | CUSIP: 69331CAH1<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    950000 | PA      | $876479.50    | 0.78%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                        | GCI LLC                                                                          | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    600000 | PA      | $514038.00    | 0.46%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    430000 | PA      | $410284.50    | 0.36%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 67421QAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $382850.00    | 0.34%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| QVC INC                                        | QVC Inc                                                                          | CUSIP: 747262AZ6<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    305000 | PA      | $204350.00    | 0.18%             | 2028-09-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS                       | Hughes Satellite Systems Corp                                                    | CUSIP: 444454AD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    425000 | PA      | $405693.31    | 0.36%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Embarq Corp                                    | Embarq Corp                                                                      | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1055000 | PA      | $448195.65    | 0.40%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                      | Arko Corp                                                                        | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    380000 | PA      | $301988.11    | 0.27%             | 2029-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                     | Sprint LLC                                                                       | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    400000 | PA      | $408473.18    | 0.36%             | 2024-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                        | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                       | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |    465000 | PA      | $340612.50    | 0.30%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AJ3<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80962.50     | 0.07%             | 2026-08-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1024000 | PA      | $797696.00    | 0.71%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| B&G Foods Inc                                  | B&G Foods Inc                                                                    | CUSIP: 05508RAE6<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    465000 | PA      | $410274.15    | 0.36%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                        | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                      | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              |  | US        |    385000 | PA      | $386618.16    | 0.34%             | 2025-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                                    | Deluxe Corp                                                                      | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |    500000 | PA      | $413750.00    | 0.37%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| BROOKFIELD PPTY REIT INC                       | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |    955000 | PA      | $918070.15    | 0.82%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| SASOL FINANCING USA LLC                        | Sasol Financing USA LLC                                                          | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    200000 | PA      | $165962.89    | 0.15%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1005000 | PA      | $846712.50    | 0.75%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: —       |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                            | CUSIP: 36168QAM6<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    683000 | PA      | $607514.84    | 0.54%             | 2028-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                       | SLM Corp                                                                         | CUSIP: 78442PGE0<br>LEI: 4K8SLPBF5DXXGPW03H93 | Long             | DBT              | CORP              | US        |    500000 | PA      | $430000.00    | 0.38%             | 2026-11-02      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                            | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HBS5<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    460000 | PA      | $302384.28    | 0.27%             | 2042-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                     | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |    950000 | PA      | $869251.33    | 0.77%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| SUNCOKE ENERGY INC                             | SunCoke Energy Inc                                                               | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |    515000 | PA      | $436274.42    | 0.39%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| KORN/FERRY INTERNATIONAL                       | Korn Ferry                                                                       | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |    220000 | PA      | $201119.60    | 0.18%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE C0-ISSUER INC                       | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    305000 | PA      | $224175.00    | 0.20%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP                             | Eldorado Gold Corp                                                               | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    555000 | PA      | $453146.03    | 0.40%             | 2029-09-01      | Fixed         | 6.25%                 | 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        |    565000 | PA      | $502839.33    | 0.45%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    600000 | PA      | $593250.00    | 0.53%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BG6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    615000 | PA      | $622441.50    | 0.55%             | 2026-02-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| DAVE & BUSTER'S INC                            | Dave & Buster's Inc                                                              | CUSIP: 23833NAH7<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | DBT              | CORP              | US        |    251000 | PA      | $252233.85    | 0.22%             | 2025-11-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: —       |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BS0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    125000 | PA      | $107017.50    | 0.10%             | 2030-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                       | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp               | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $116100.00    | 0.10%             | 2026-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                      | PG&E Corp                                                                        | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    185000 | PA      | $167514.73    | 0.15%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| WILLIAMS SCOTSMAN INTL                         | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    534000 | PA      | $528660.00    | 0.47%             | 2025-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| EARTHSTONE ENERGY HOL                          | Earthstone Energy Holdings LLC                                                   | CUSIP: 27034RAA1<br>LEI: 549300HGVO86L8G72J25 | Long             | DBT              | CORP              | US        |    485000 | PA      | $466972.55    | 0.41%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAK0<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    135000 | PA      | $103950.00    | 0.09%             | 2028-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAG2<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    210000 | PA      | $170100.00    | 0.15%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64365.00     | 0.06%             | 2028-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| CGG SA                                         | CGG SA                                                                           | CUSIP: 12531TAF6<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    425000 | PA      | $357448.43    | 0.32%             | 2027-04-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| Sprint Capital Corp                            | Sprint Capital Corp                                                              | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    320000 | PA      | $382608.00    | 0.34%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                        | Uniti Group LP / Uniti Group Finance Inc / CSL Capital LLC                       | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              |  | US        |    380000 | PA      | $317379.80    | 0.28%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                  | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    520000 | PA      | $473012.28    | 0.42%             | 2030-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MERCURY CHILE HOLDCO LLC                       | Mercury Chile Holdco LLC                                                         | CUSIP: 58937CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $198992.25    | 0.18%             | 2027-01-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                       | Builders FirstSource Inc                                                         | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |    635000 | PA      | $586655.80    | 0.52%             | 2032-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                            | Delta Air Lines Inc                                                              | CUSIP: 247361ZN1<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    355000 | PA      | $324414.98    | 0.29%             | 2028-04-19      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| HECLA MINING CO                                | Hecla Mining Co                                                                  | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    400000 | PA      | $390142.30    | 0.35%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                   | Arconic Corp                                                                     | CUSIP: 03966VAA5<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    820000 | PA      | $769939.00    | 0.68%             | 2028-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                              | Iron Mountain Inc                                                                | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    200000 | PA      | $176677.58    | 0.16%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VECTOR GROUP LTD                               | Vector Group Ltd                                                                 | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |    850000 | PA      | $738284.50    | 0.66%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AZUL INVESTMENTS LLP                           | Azul Investments LLP                                                             | CUSIP: 05502FAC2<br>LEI: 549300C6XNC8IDH04C74 | Long             | DBT              | CORP              | US        |    775000 | PA      | $528995.42    | 0.47%             | 2026-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAF1<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    565000 | PA      | $431706.73    | 0.38%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    935000 | PA      | $857937.30    | 0.76%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| DAVITA INC                                     | DaVita Inc                                                                       | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    375000 | PA      | $275625.00    | 0.24%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    620000 | PA      | $495764.46    | 0.44%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1095000 | PA      | $949912.50    | 0.84%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Graham Holdings Co                             | Graham Holdings Co                                                               | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |    119000 | PA      | $116025.00    | 0.10%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                            | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    920000 | PA      | $819103.60    | 0.73%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BJ0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    350000 | PA      | $341626.25    | 0.30%             | 2027-08-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $20964.42     | 0.02%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                  | PRA Group Inc                                                                    | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    220000 | PA      | $182787.00    | 0.16%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| AMERICAN AIRLINES INC                          | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |    715000 | PA      | $794031.04    | 0.71%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                                              | CUSIP: 894164AA0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    585000 | PA      | $474117.84    | 0.42%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| CARVANA CO                                     | Carvana Co                                                                       | CUSIP: 146869AB8<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    575000 | PA      | $258750.00    | 0.23%             | 2025-10-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| RITCHIE BROS AUCTIONEERS                       | Ritchie Bros Auctioneers Inc                                                     | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |    340000 | PA      | $334900.00    | 0.30%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                    | Gap Inc/The                                                                      | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    150000 | PA      | $113250.00    | 0.10%             | 2031-10-01      | Fixed         | 3.88%                 | 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        |    490000 | PA      | $467905.11    | 0.42%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                | Gen Digital Inc                                                                  | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    690000 | PA      | $669300.00    | 0.59%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                  | TransDigm Inc                                                                    | CUSIP: 893647BE6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    870000 | PA      | $865771.80    | 0.77%             | 2026-03-15      | Fixed         | 6.25%                 | 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        |     95000 | PA      | $83161.22     | 0.07%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| CALIFORNIA RESOURCES CRP                       | California Resources Corp                                                        | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    515000 | PA      | $500837.50    | 0.44%             | 2026-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WEWORK COS LLC/WW CO-OBL                       | WeWork Cos LLC / WW Co-Obligor Inc                                               | CUSIP: 96209BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    575000 | PA      | $253613.99    | 0.23%             | 2025-07-10      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  21662241 | NS      | $21664406.98  | 19.24%            |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORP                              | Chord Energy Corp                                                                | CUSIP: 674215AL2<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    240000 | PA      | $234600.00    | 0.21%             | 2026-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                                           | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     25000 | PA      | $16928.75     | 0.02%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    385000 | PA      | $369238.10    | 0.33%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                                                 | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    625000 | PA      | $416143.75    | 0.37%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AKUMIN INC                                     | Akumin Inc                                                                       | CUSIP: 01021FAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    475000 | PA      | $365821.25    | 0.32%             | 2025-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 44106MBA9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    475000 | PA      | $391732.50    | 0.35%             | 2026-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RACKSPACE TECHNOLOGY                           | Rackspace Technology Global Inc                                                  | CUSIP: 750098AA3<br>LEI: 549300QTYCKLMFSE8I97 | Long             | DBT              | CORP              | US        |    550000 | PA      | $250782.95    | 0.22%             | 2028-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                            | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HAW7<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    625000 | PA      | $603842.08    | 0.54%             | 2026-01-15      | Fixed         | 5.71%                 | No            |                  2 | On Loan: —       |
| KOSMOS ENERGY LTD                              | Kosmos Energy Ltd                                                                | CUSIP: 500688AD8<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    450000 | PA      | $387454.50    | 0.34%             | 2028-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                         | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              |  | US        |     75000 | PA      | $64227.00     | 0.06%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| XHR LP                                         | XHR LP                                                                           | CUSIP: 98372MAA3<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |    432000 | PA      | $420478.36    | 0.37%             | 2025-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ENVIVA PARTNERS LP/FIN C                       | Enviva Partners LP / Enviva Partners Finance Corp                                | CUSIP: 29413XAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $619710.59    | 0.55%             | 2026-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Intesa Sanpaolo SpA                            | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    375000 | PA      | $361256.41    | 0.32%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                        | Gulfport Energy Corp                                                             | CUSIP: 402635AQ9<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |    240000 | PA      | $239224.80    | 0.21%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AK5<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    225000 | PA      | $221483.25    | 0.20%             | 2024-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| ENACT HOLDINGS INC                             | Enact Holdings Inc                                                               | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $631949.50    | 0.56%             | 2025-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NESCO HOLDINGS II INC                          | NESCO Holdings II Inc                                                            | CUSIP: 64083YAA9<br>LEI: 254900FAHT0HW9T6L409 | Long             | DBT              | CORP              | US        |    880000 | PA      | $774144.80    | 0.69%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                       | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    325000 | PA      | $294418.09    | 0.26%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Kosmos Energy Ltd                              | Kosmos Energy Ltd                                                                | CUSIP: 500688AC0<br>LEI: 213800YDFJ3OT9B5P157 | Long             | DBT              | CORP              | US        |    625000 | PA      | $556308.88    | 0.49%             | 2026-04-04      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR MINING PLC                            | Endeavour Mining PLC                                                             | CUSIP: 29261HAA3<br>LEI: 529900NI5MXQ91GHXR07 | Long             | DBT              | CORP              | GB        |    515000 | PA      | $429407.00    | 0.38%             | 2026-10-14      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| UNIVERSAL ENTERTAINMENT                        | Universal Entertainment Corp                                                     | CUSIP: 91349WAB4<br>LEI: 353800BBJTHSMSQ31V91 | Long             | DBT              | CORP              | JP        |    530000 | PA      | $488945.20    | 0.43%             | 2024-12-11      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| CUSHMAN & WAKEFIELD US                         | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    560000 | PA      | $534850.74    | 0.47%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    330000 | PA      | $329175.00    | 0.29%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| Drax Finco PLC                                 | Drax Finco PLC                                                                   | CUSIP: 26151AAA7<br>LEI: 5493000MW6H7G7JFNQ88 | Long             | DBT              | CORP              | GB        |    446000 | PA      | $422585.00    | 0.38%             | 2025-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    155000 | PA      | $151382.86    | 0.13%             | 2025-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Patterson-UTI Energy Inc                       | Patterson-UTI Energy Inc                                                         | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |    310000 | PA      | $275174.78    | 0.24%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| Iron Mountain Inc                              | Iron Mountain Inc                                                                | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     75000 | PA      | $70125.00     | 0.06%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| CommScope Inc                                  | CommScope Inc                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    835000 | PA      | $716768.18    | 0.64%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 44106MAZ5<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    800000 | PA      | $746640.00    | 0.66%             | 2024-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                                             | CUSIP: 517834AG2<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191112.67    | 0.17%             | 2024-08-08      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                  | FirstCash Inc                                                                    | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    480000 | PA      | $422377.92    | 0.38%             | 2028-09-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                    | Avient Corp                                                                      | CUSIP: 73179PAM8<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    455000 | PA      | $443615.58    | 0.39%             | 2025-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    505000 | PA      | $418352.10    | 0.37%             | 2026-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| UPC Holding BV                                 | UPC Holding BV                                                                   | CUSIP: 90320LAG2<br>LEI: 213800G1DU7LKI6ZCD69 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $178000.00    | 0.16%             | 2028-01-15      | Fixed         | 5.50%                 | 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        |    360000 | PA      | $343692.00    | 0.31%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                                                    | CUSIP: 345370CS7<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    455000 | PA      | $359463.65    | 0.32%             | 2046-12-08      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                         | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    575000 | PA      | $489164.00    | 0.43%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                       | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    465000 | PA      | $474402.90    | 0.42%             | 2026-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| LSB INDUSTRIES                                 | LSB Industries Inc                                                               | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |    520000 | PA      | $485638.40    | 0.43%             | 2028-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Vector Group Ltd                               | Vector Group Ltd                                                                 | CUSIP: 92240MBJ6<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |    234000 | PA      | $234585.00    | 0.21%             | 2026-11-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                                | TripAdvisor Inc                                                                  | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |    430000 | PA      | $424675.25    | 0.38%             | 2025-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                           | Stillwater Mining Co                                                             | CUSIP: 86074QAP7<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    600000 | PA      | $523350.00    | 0.46%             | 2026-11-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CVR PARTNERS/CVR NITROGE                       | CVR Partners LP / CVR Nitrogen Finance Corp                                      | CUSIP: 12663QAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $451465.00    | 0.40%             | 2028-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                 | NRG Energy Inc                                                                   | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    400000 | PA      | $383000.00    | 0.34%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                          | Civitas Resources Inc                                                            | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    246000 | PA      | $226701.30    | 0.20%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                  | B&G Foods Inc                                                                    | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    230000 | PA      | $185012.00    | 0.16%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PDC Energy Inc                                 | PDC Energy Inc                                                                   | CUSIP: 69327RAJ0<br>LEI: 5493008W8H2T511J5Y59 | Long             | DBT              | CORP              | US        |    365000 | PA      | $348637.05    | 0.31%             | 2026-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                        | New Fortress Energy Inc                                                          | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $869809.50    | 0.77%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AECOM                                          | AECOM                                                                            | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    760000 | PA      | $739388.80    | 0.66%             | 2027-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                                           | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    555000 | PA      | $391968.75    | 0.35%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| AMERICAN AIRLINES GROUP                        | American Airlines Group Inc                                                      | CUSIP: 02376RAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    405000 | PA      | $354531.09    | 0.31%             | 2025-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| BRISTOW GROUP INC                              | Bristow Group Inc                                                                | CUSIP: 11040GAA1<br>LEI: 5493005Q24EN3UC1PV68 | Long             | DBT              | CORP              | US        |    240000 | PA      | $224176.14    | 0.20%             | 2028-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                       | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |    830000 | PA      | $713800.00    | 0.63%             | 2028-11-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| GARDEN SPINCO CORP                             | Garden Spinco Corp                                                               | CUSIP: 365417AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $291951.77    | 0.26%             | 2030-07-20      | Fixed         | 8.63%                 | 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        |    430000 | PA      | $416025.00    | 0.37%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| W & T OFFSHORE INC                             | W&T Offshore Inc                                                                 | CUSIP: 92922PAL0<br>LEI: 549300Q7EOY2YIO3YK85 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494625.00    | 0.44%             | 2023-11-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                       | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $171587.50    | 0.15%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| COMPASS GROUP DIVERSIFIE                       | Compass Group Diversified Holdings LLC                                           | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |    240000 | PA      | $209817.60    | 0.19%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| APOLLO CMMRL REAL EST FI                       | Apollo Commercial Real Estate Finance Inc                                        | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              |  | US        |    490000 | PA      | $390162.50    | 0.35%             | 2029-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    521000 | PA      | $463690.00    | 0.41%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| IRON MOUNTAIN INC                              | Iron Mountain Inc                                                                | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    160000 | PA      | $133952.00    | 0.12%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    280000 | PA      | $287700.00    | 0.26%             | 2027-08-15      | Fixed         | 11.63%                | No            |                  2 | On Loan: —       |
| CONDUENT BUS SERVICES                          | Conduent Business Services LLC / Conduent State & Local Solutions Inc            | CUSIP: 20679LAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $422300.00    | 0.38%             | 2029-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     70000 | PA      | $75075.00     | 0.07%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                         | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              |  | US        |    625000 | PA      | $578793.75    | 0.51%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                   | Arconic Corp                                                                     | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196986.09    | 0.17%             | 2025-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                            | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    870000 | PA      | $787350.00    | 0.70%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| WYNN LAS VEGAS LLC/CORP                        | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91610.00     | 0.08%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                         | Energizer Holdings Inc                                                           | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |    620000 | PA      | $540602.80    | 0.48%             | 2028-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Matador Resources Co                           | Matador Resources Co                                                             | CUSIP: 576485AE6<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |    903000 | PA      | $894403.44    | 0.79%             | 2026-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| PBF HOLDING CO LLC                             | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    435000 | PA      | $397050.60    | 0.35%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DZ5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    271000 | PA      | $295390.00    | 0.26%             | 2027-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| AMC ENTERTAINMENT HLDGS                        | AMC Entertainment Holdings Inc                                                   | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    605000 | PA      | $344747.15    | 0.31%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| IAMGOLD CORP                                   | IAMGOLD Corp                                                                     | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    390000 | PA      | $276581.32    | 0.25%             | 2028-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADVANTAGE SALES & MARKET                       | Advantage Sales & Marketing Inc                                                  | CUSIP: 00775PAA5<br>LEI: 549300T4O24KQDED1182 | Long             | DBT              | CORP              | US        |    755000 | PA      | $591029.10    | 0.52%             | 2028-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| WeWork Cos Inc                                 | WeWork Cos Inc                                                                   | CUSIP: 96208LAA9<br>LEI: 549300D8U9TF7WBED521 | Long             | DBT              | CORP              | US        |    730000 | PA      | $372300.00    | 0.33%             | 2025-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                            | Delta Air Lines Inc                                                              | CUSIP: 247361ZZ4<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    600000 | PA      | $619848.00    | 0.55%             | 2026-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| VIASAT INC                                     | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    555000 | PA      | $510061.65    | 0.45%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce PLC                                | Rolls-Royce PLC                                                                  | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $183500.00    | 0.16%             | 2025-10-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: —       |
| SASOL Financing USA LLC                        | Sasol Financing USA LLC                                                          | CUSIP: 80386WAA3<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    830000 | PA      | $824190.00    | 0.73%             | 2024-03-27      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| HARBOUR ENERGY PLC                             | Harbour Energy PLC                                                               | CUSIP: 411618AB7<br>LEI: 213800YPC42DYBKVPF97 | Long             | DBT              | CORP              | GB        |    455000 | PA      | $408590.00    | 0.36%             | 2026-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                    | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    220000 | PA      | $223850.00    | 0.20%             | 2025-12-15      | Fixed         | 8.00%                 | 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        |   1040000 | NS      | $1040000.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SPRINT LLC                                     | Sprint LLC                                                                       | CUSIP: 85207UAJ4<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |    735000 | PA      | $761330.64    | 0.68%             | 2025-02-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                                       | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    580000 | PA      | $538918.60    | 0.48%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| STILLWATER MINING CO                           | Stillwater Mining Co                                                             | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |    550000 | PA      | $440687.50    | 0.39%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                          | Uber Technologies Inc                                                            | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    860000 | PA      | $864472.00    | 0.77%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                       | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    535000 | PA      | $421596.05    | 0.37%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                          | Mineral Resources Ltd                                                            | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    430000 | PA      | $438582.80    | 0.39%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Berry Global Inc                               | Berry Global Inc                                                                 | CUSIP: 085770AB1<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |    445000 | PA      | $436100.00    | 0.39%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| UNISYS CORP                                    | Unisys Corp                                                                      | CUSIP: 909214BV9<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |    440000 | PA      | $315546.00    | 0.28%             | 2027-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| ROCKETMTGE CO-ISSUER INC                       | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1170000 | PA      | $905047.65    | 0.80%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAM6<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    575000 | PA      | $411044.02    | 0.37%             | 2029-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                           | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    475000 | PA      | $432060.13    | 0.38%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                           | Talos Production Inc                                                             | CUSIP: 87485LAC8<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    550000 | PA      | $574750.00    | 0.51%             | 2026-01-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| NMI HOLDINGS                                   | NMI Holdings Inc                                                                 | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    201000 | PA      | $202079.37    | 0.18%             | 2025-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                                                    | CUSIP: 345370CX6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    210000 | PA      | $240393.49    | 0.21%             | 2030-04-22      | Fixed         | 9.63%                 | No            |                  2 | On Loan: —       |
| ITHACA ENERGY NORTH                            | Ithaca Energy North Sea PLC                                                      | CUSIP: 46567TAB0<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |    525000 | PA      | $519750.00    | 0.46%             | 2026-07-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| COTY INC                                       | Coty Inc                                                                         | CUSIP: 222070AE4<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |    570000 | PA      | $546481.80    | 0.49%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| WYNN LAS VEGAS LLC/CORP                        | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AV7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    555000 | PA      | $532761.15    | 0.47%             | 2025-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| ODEON FINCO PLC                                | Odeon Finco PLC                                                                  | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |    365000 | PA      | $313472.95    | 0.28%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| GRAHAM PACKAGING/GPC CAP                       | Graham Packaging Co Inc                                                          | CUSIP: 384701AA6<br>LEI: 549300YS0ZFT826HIK72 | Long             | DBT              | CORP              | US        |    525000 | PA      | $443843.64    | 0.39%             | 2028-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                       | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $516091.80    | 0.46%             | 2025-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| CARVANA CO                                     | Carvana Co                                                                       | CUSIP: 146869AF9<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    745000 | PA      | $267387.95    | 0.24%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |    740000 | PA      | $741400.82    | 0.66%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Newell Brands Inc                              | Newell Brands Inc                                                                | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    650000 | PA      | $500500.00    | 0.44%             | 2046-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    310000 | PA      | $299910.47    | 0.27%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                         | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |    855000 | PA      | $845808.75    | 0.75%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GRIFOLS ESCROW ISSUER                          | Grifols Escrow Issuer SA                                                         | CUSIP: 39843UAA0<br>LEI: 959800HLB3PGTGSLVV62 | Long             | DBT              | CORP              | ES        |    745000 | PA      | $626083.10    | 0.56%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COTY/HFC PRESTIGE/INT US                       | Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC             | CUSIP: 222070AG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $440550.00    | 0.39%             | 2029-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                                              | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    550000 | PA      | $538914.98    | 0.48%             | 2026-07-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| RLJ LODGING TRUST LP                           | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAB7<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |    460000 | PA      | $385463.90    | 0.34%             | 2029-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                     | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $858048.80    | 0.76%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                         | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAA1<br>LEI: N/A                  | Long             | DBT              |  | US        |    305000 | PA      | $307287.50    | 0.27%             | 2025-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WARRIOR MET COAL INC                           | Warrior Met Coal Inc                                                             | CUSIP: 93627CAB7<br>LEI: 549300152B1S9YKBYV79 | Long             | DBT              | CORP              | US        |    215000 | PA      | $213234.24    | 0.19%             | 2028-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ENERFLEX LTD                                   | Enerflex Ltd                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |    575000 | PA      | $568082.75    | 0.50%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Allison Transmission Inc                       | Allison Transmission Inc                                                         | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    245000 | PA      | $231583.99    | 0.21%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CNX Resources Corp                             | CNX Resources Corp                                                               | CUSIP: 12653CAC2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     59000 | PA      | $58778.75     | 0.05%             | 2027-03-14      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAA0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    500000 | PA      | $483864.63    | 0.43%             | 2026-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AP3<br>LEI: 549300VJQPPSEJPBNA66 | Long             | DBT              | CORP              | US        |    350000 | PA      | $341206.61    | 0.30%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                            | CUSIP: 527298BS1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    910000 | PA      | $671944.00    | 0.60%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                          | Uber Technologies Inc                                                            | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352120.65    | 0.31%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HOLLY NRG PRTNR/FIN CORP                       | Holly Energy Partners LP / Holly Energy Finance Corp                             | CUSIP: 435765AH5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    465000 | PA      | $423690.40    | 0.38%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    605000 | PA      | $587633.48    | 0.52%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                               | Credit Acceptance Corp                                                           | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    205000 | PA      | $193725.00    | 0.17%             | 2026-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $168026.00    | 0.15%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| UNITED STATES STEEL CORP                       | United States Steel Corp                                                         | CUSIP: 912909AU2<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |    420000 | PA      | $409668.00    | 0.36%             | 2029-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| HUGHES SATELLITE SYSTEMS                       | Hughes Satellite Systems Corp                                                    | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    449000 | PA      | $417419.60    | 0.37%             | 2026-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAE0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    215000 | PA      | $166551.59    | 0.15%             | 2048-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    450000 | PA      | $425970.00    | 0.38%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                                       | CUSIP: 55617LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $230812.40    | 0.20%             | 2032-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                       | CUSIP: 335934AR6<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $462830.40    | 0.41%             | 2026-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                   | ADT Security Corp/The                                                            | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    485000 | PA      | $423312.85    | 0.38%             | 2029-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                        | New Fortress Energy Inc                                                          | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    245000 | PA      | $239298.85    | 0.21%             | 2025-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAIN CII CARBON LLC/CII                        | Rain CII Carbon LLC / CII Carbon Corp                                            | CUSIP: 75079RAC2<br>LEI: 5493002CIT11OW5J8846 | Long             | DBT              | CORP              | US        |    510000 | PA      | $464120.40    | 0.41%             | 2025-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| METHANEX CORP                                  | Methanex Corp                                                                    | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |    165000 | PA      | $147368.10    | 0.13%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    650000 | PA      | $622375.00    | 0.55%             | 2026-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd                          | Mineral Resources Ltd                                                            | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    593000 | PA      | $600264.98    | 0.53%             | 2027-05-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| ELANCO ANIMAL HEALTH INC                       | Elanco Animal Health Inc                                                         | CUSIP: 28414HAG8<br>LEI: 549300SHPNDCE059M934 | Long             | DBT              | CORP              | US        |    685000 | PA      | $632618.05    | 0.56%             | 2028-08-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                               | FirstEnergy Corp                                                                 | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    284000 | PA      | $250238.08    | 0.22%             | 2047-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AH7<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |    465000 | PA      | $458606.25    | 0.41%             | 2024-05-20      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                            | CUSIP: 501797AM6<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    545000 | PA      | $478575.40    | 0.42%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                          | Antero Resources Corp                                                            | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    341000 | PA      | $347936.40    | 0.31%             | 2029-02-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                                 | Stericycle Inc                                                                   | CUSIP: 858912AF5<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |    531000 | PA      | $524840.40    | 0.47%             | 2024-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                       | HLF Financing Sarl LLC / Herbalife International Inc                             | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    705000 | PA      | $503842.35    | 0.45%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ROLLS-ROYCE PLC                                | Rolls-Royce PLC                                                                  | CUSIP: 77578JAC2<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    915000 | PA      | $870567.60    | 0.77%             | 2027-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                         | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    600000 | PA      | $505969.28    | 0.45%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AL8<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |    401000 | PA      | $382554.00    | 0.34%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                       | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $567300.00    | 0.50%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| MICROSTRATEGY INC                              | MicroStrategy Inc                                                                | CUSIP: 594972AF8<br>LEI: 549300WQTWEJUEHXQX21 | Long             | DBT              | CORP              | US        |    500000 | PA      | $369825.03    | 0.33%             | 2028-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| FIRST QUANTUM MINERALS L                       | First Quantum Minerals Ltd                                                       | CUSIP: 335934AL9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    880000 | PA      | $867059.54    | 0.77%             | 2025-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    655000 | PA      | $623887.50    | 0.55%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                 | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    865000 | PA      | $850935.10    | 0.76%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                       | Adtalem Global Education Inc                                                     | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    268000 | PA      | $249240.00    | 0.22%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| TRI POINTE GROUP / HOMES                       | TRI Pointe Group Inc / TRI Pointe Homes Inc                                      | CUSIP: 962178AN9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    346000 | PA      | $345430.40    | 0.31%             | 2024-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                       | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    250000 | PA      | $229080.38    | 0.20%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| ADT SEC CORP                                   | ADT Security Corp/The                                                            | CUSIP: 74166NAA2<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |    730000 | PA      | $631603.30    | 0.56%             | 2032-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM UK HOLDINGS                          | TransDigm UK Holdings PLC                                                        | CUSIP: 89365DAB9<br>LEI: 549300JTYP71LZZSE903 | Long             | DBT              | CORP              | GB        |    125000 | PA      | $123207.50    | 0.11%             | 2026-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    300000 | PA      | $328500.00    | 0.29%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                           | GrubHub Holdings Inc                                                             | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    645000 | PA      | $484958.29    | 0.43%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                            | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    670000 | PA      | $524602.82    | 0.47%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                                | CUSIP: 30251GAW7<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    570000 | PA      | $565368.75    | 0.50%             | 2024-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                            | CUSIP: 36168QAF1<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    310000 | PA      | $298517.60    | 0.27%             | 2026-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 85172FAR0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20880.00     | 0.02%             | 2029-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 85172FAN9<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    910000 | PA      | $881603.45    | 0.78%             | 2026-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                         | Brundage-Bone Concrete Pumping Holdings Inc                                      | CUSIP: 66981QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    215000 | PA      | $199950.00    | 0.18%             | 2026-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| SK INVICTUS INTERMEDIATE                       | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    675000 | PA      | $540000.00    | 0.48%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                            | Coinbase Global Inc                                                              | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $718910.40    | 0.64%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: —       |
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    620000 | PA      | $483354.87    | 0.43%             | 2030-12-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                                   | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    345000 | PA      | $281175.00    | 0.25%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ZIPRECRUITER INC                               | ZipRecruiter Inc                                                                 | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |    555000 | PA      | $453179.70    | 0.40%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ENERGEAN PLC                                   | Energean PLC                                                                     | CUSIP: 29280EAA7<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |    425000 | PA      | $388739.00    | 0.35%             | 2027-04-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $465099.95    | 0.41%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                       | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    683000 | PA      | $676170.00    | 0.60%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                             | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAG3<br>LEI: 549300TILVIIV9FLL461 | Long             | DBT              | CORP              | US        |    610000 | PA      | $606492.50    | 0.54%             | 2025-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BT3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $690949.00    | 0.61%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                     | goeasy Ltd                                                                       | CUSIP: 380355AD9<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $454800.00    | 0.40%             | 2024-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| QVC INC                                        | QVC Inc                                                                          | CUSIP: 747262AY9<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    565000 | PA      | $424125.73    | 0.38%             | 2027-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                         | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    235000 | PA      | $217699.30    | 0.19%             | 2028-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                         | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    515000 | PA      | $507731.30    | 0.45%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                         | Resorts World Las Vegas LLC / RWLV Capital Inc                                   | CUSIP: 76120HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    990000 | PA      | $672782.57    | 0.60%             | 2029-04-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UPC BROADBAND FINCO BV                         | UPC Broadband Finco BV                                                           | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    980000 | PA      | $838012.70    | 0.74%             | 2031-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-29

**Name of Applicant:** iShares Trust

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer