# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-071911
**Filing Date:** 2023-3
**Character Count:** 358642
**Document Hash:** 5ad6b258e4e96d32f4c5dad36b36ca4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071911.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071911

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 23774046

**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 U.S. Fixed Income Balanced Risk Factor ETF (Series ID: S000060088)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000196720 | iShares U.S. Fixed Income Balanced Risk Factor ETF | FIBR            |

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Corporate Bonds & Notes** |  |  |
| **Advertising — 0.2%** |  |  |
| Clear Channel Outdoor Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.13%, 08/15/27 (Call 08/15/23)<sup>(a)(b)</sup> | $75 | $68319 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 04/15/28 (Call 04/15/24)<sup>(a)(b)</sup> | 53 | 45139 |
|  |  | 113458 |
| **Aerospace & Defense — 1.9%** |  |  |
| Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.20%, 02/04/26 (Call 02/04/23) | 220 | 203137 |
| &nbsp;&nbsp;&nbsp;3.20%, 03/01/29 (Call 12/01/28) | 100 | 91407 |
| Bombardier Inc., 7.88%, 04/15/27 (Call 04/15/23)<sup>(a)(b)</sup> | 122 | 121999 |
| General Dynamics Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, 04/01/27 (Call 02/01/27) | 200 | 194334 |
| &nbsp;&nbsp;&nbsp;3.63%, 04/01/30 (Call 01/01/30) | 100 | 96465 |
| Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 06/15/32 (Call 03/15/32)<sup>(b)</sup> | 115 | 111683 |
| &nbsp;&nbsp;&nbsp;5.10%, 11/15/27 (Call 10/15/27) | 200 | 207708 |
| &nbsp;&nbsp;&nbsp;5.25%, 01/15/33 (Call 10/15/32) | 110 | 117411 |
| TransDigm Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.38%, 06/15/26 (Call 06/15/23) | 115 | 113566 |
| &nbsp;&nbsp;&nbsp;7.50%, 03/15/27 (Call 03/15/23) | 50 | 50382 |
|  |  | 1308092 |
| **Agriculture — 2.9%** |  |  |
| Altria Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, 02/04/32 (Call 11/04/31) | 220 | 171281 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.40%, 02/14/26 (Call 12/14/25)<sup>(b)</sup> | 155 | 154335 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.26%, 03/25/28 (Call 01/25/28) | 99 | 85091 |
| &nbsp;&nbsp;&nbsp;2.79%, 09/06/24 (Call 08/06/24) | 100 | 96774 |
| &nbsp;&nbsp;&nbsp;4.74%, 03/16/32 (Call 12/16/31) | 140 | 129318 |
| &nbsp;&nbsp;&nbsp;4.91%, 04/02/30 (Call 01/02/30) | 29 | 27435 |
| BAT International Finance PLC, 1.67%, 03/25/26 (Call 02/25/26) | 400 | 361056 |
| Bunge Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.63%, 08/17/25 (Call 07/17/25) | 138 | 127239 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.75%, 05/14/31 (Call 02/14/31)<sup>(b)</sup> | 45 | 38564 |
| Philip Morris International Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 11/01/30 (Call 08/01/30)<sup>(b)</sup> | 340 | 273751 |
| &nbsp;&nbsp;&nbsp;3.25%, 11/10/24 | 200 | 194916 |
| &nbsp;&nbsp;&nbsp;5.13%, 11/15/24 | 130 | 130944 |
| &nbsp;&nbsp;&nbsp;5.75%, 11/17/32 (Call 08/17/32) | 200 | 210610 |
|  |  | 2001314 |
| **Airlines — 0.8%** |  |  |
| American Airlines Inc., 11.75%, 07/15/25<sup>(a)</sup> | 85 | 94663 |
| American Airlines Inc./AAdvantage Loyalty IP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 04/20/26<sup>(a)</sup> | 90 | 88263 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 04/20/29<sup>(a)</sup> | 165 | 159733 |
| United Airlines Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/15/26 (Call 10/15/25)<sup>(a)</sup> | 75 | 71244 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/15/29 (Call 10/15/25)<sup>(a)</sup> | 160 | 145989 |
|  |  | 559892 |
| **Auto Manufacturers — 2.0%** |  |  |
| American Honda Finance Corp., 1.20%, 07/08/25 | 250 | 230562 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.54%, 08/01/26 (Call 06/01/26) | 120 | 114011 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.11%, 05/03/29 (Call 02/03/29)<sup>(b)</sup> | 120 | 113698 |
| &nbsp;&nbsp;&nbsp;7.35%, 11/04/27 (Call 10/04/27) | 100 | 104872 |
| General Motors Financial Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.20%, 10/15/24 | 150 | 140239 |
| &nbsp;&nbsp;&nbsp;2.40%, 10/15/28 (Call 08/15/28) | 100 | 85708 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Auto Manufacturers (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 04/07/25<sup>(b)</sup> | $95 | $92291 |
| Toyota Motor Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.90%, 01/13/27 | 330 | 300637 |
| &nbsp;&nbsp;&nbsp;3.65%, 08/18/25 | 170 | 166333 |
| &nbsp;&nbsp;&nbsp;3.95%, 06/30/25 | 10 | 9871 |
|  |  | 1358222 |
| **Auto Parts & Equipment — 0.0%** |  |  |
| Lear Corp., 3.80%, 09/15/27 (Call 06/15/27) | 33 | 31460 |
| **Banks — 24.3%** |  |  |
| Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.72%, 09/14/27 (Call 09/14/26)<sup>(c)</sup> | 200 | 175214 |
| &nbsp;&nbsp;&nbsp;1.85%, 03/25/26 | 210 | 189147 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.98%, 04/22/25 (Call 04/22/24), (1 day SOFR + 0.690%)<sup>(c)</sup> | 115 | 109004 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.98%, 09/25/25 (Call 09/25/24), (1 day SOFR + 0.910%)<sup>(c)</sup> | 163 | 152118 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.32%, 06/19/26 (Call 06/19/25), (1 day SOFR + 1.150%)<sup>(c)</sup> | 100 | 91575 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.73%, 07/22/27 (Call 07/22/26), (1 day SOFR + 0.960%)<sup>(c)</sup> | 450 | 403182 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.09%, 06/14/29 (Call 06/14/28), (1 day SOFR + 1.060%)<sup>(c)</sup> | 100 | 87065 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/13/31 (Call 02/13/30), <br> (3 mo. LIBOR US + 0.990%)<sup>(c)</sup> | 125 | 106469 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.56%, 04/23/27 (Call 04/23/26), <br> (3 mo. LIBOR US + 1.060%)<sup>(c)</sup> | 150 | 143639 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.84%, 04/25/25 (Call 04/27/24), (1 day SOFR + 1.110%)<sup>(c)</sup> | 50 | 49118 |
| &nbsp;&nbsp;&nbsp;4.25%, 10/22/26 | 220 | 215908 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.57%, 04/27/33 (Call 04/27/32), (1 day SOFR + 1.830%)<sup>(c)</sup> | 120 | 115990 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.83%, 07/22/26 (Call 07/22/25)<sup>(c)</sup> | 75 | 74819 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/22/28 (Call 07/22/27)<sup>(c)</sup> | 45 | 45113 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.20%, 11/10/28 (Call 11/10/27)<sup>(c)</sup> | 75 | 79098 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series N, 2.65%, 03/11/32 (Call 03/11/31), <br> (1 day SOFR + 1.220%)<sup>(c)</sup> | 100 | 84311 |
| Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, 09/15/26 | 60 | 53282 |
| &nbsp;&nbsp;&nbsp;3.70%, 06/07/25 | 120 | 117194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series H, 4.70%, 09/14/27 (Call 08/14/27)<sup>(b)</sup> | 100 | 100262 |
| Bank of New York Mellon Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.41%, 07/24/26 (Call 07/24/25)<sup>(c)</sup> | 35 | 34760 |
| &nbsp;&nbsp;&nbsp;4.54%, 02/01/29 | 40 | 39974 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.60%, 07/26/30 (Call 07/26/29)<sup>(c)</sup> | 50 | 50119 |
| Bank of Nova Scotia (The), 1.05%, 03/02/26 | 295 | 264170 |
| Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.28%, 11/24/27 (Call 11/24/26)<sup>(c)</sup> | 200 | 179136 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 08/09/26 (Call 08/09/25)<sup>(c)</sup> | 200 | 200816 |
| Canadian Imperial Bank of Commerce, 2.25%, 01/28/25 | 170 | 161685 |
| Citigroup Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.78%, 10/30/24 (Call 09/30/23), (1 day SOFR + 0.686%)<sup>(c)</sup> | 530 | 512314 |
| &nbsp;&nbsp;&nbsp;&nbsp;0.98%, 05/01/25 (Call 05/01/24), (1 day SOFR + 0.669%)<sup>(c)</sup> | 90 | 85217 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.46%, 06/09/27 (Call 06/09/26), (1 day SOFR + 0.770%)<sup>(c)</sup> | 150 | 133580 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.56%, 05/01/32 (Call 05/01/31), (1 day SOFR + 1.167%)<sup>(c)</sup> | 120 | 99997 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 04/24/25 (Call 04/24/24), <br> (3 mo. LIBOR US + 0.897%)<sup>(c)</sup> | 225 | 220091 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.79%, 03/17/33 (Call 03/17/32), (1 day SOFR + 1.939%)<sup>(c)</sup> | 60 | 54272 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.98%, 03/20/30 (Call 03/20/29), <br> (3 mo. LIBOR US + 1.338%)<sup>(c)</sup> | 50 | 47060 |
| &nbsp;&nbsp;&nbsp;4.60%, 03/09/26 | 100 | 99398 |
| Cooperatieve Rabobank UA/NY, 1.38%, 01/10/25 | 250 | 235100 |
| Deutsche Bank AG, 6.12%, 07/14/26 (Call 07/14/25)<sup>(c)</sup> | 150 | 152015 |
| Deutsche Bank AG/New York NY, 2.55%, 01/07/28 (Call 01/07/27), (1 day SOFR + 1.318%)<sup>(c)</sup> | 300 | 267810 |
| Fifth Third Bancorp., 1.71%, 11/01/27 (Call 11/01/26), (1 day SOFR + 0.685%)<sup>(c)</sup> | 55 | 49574 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Banks (continued)** |  |  |
| Goldman Sachs Group Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;0.86%, 02/12/26 (Call 02/12/25), (1 day SOFR + 0.609%)<sup>(c)</sup> | $105 | $96212 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.43%, 03/09/27 (Call 03/09/26), (1 day SOFR + 0.798%)<sup>(c)</sup> | 50 | 44756 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.95%, 10/21/27 (Call 10/21/26), (1 day SOFR + 0.913%)<sup>(c)</sup> | 300 | 268461 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.38%, 07/21/32 (Call 07/21/31), (1 day SOFR + 1.248%)<sup>(c)</sup> | 145 | 118770 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.62%, 04/22/32 (Call 04/22/31), (1 day SOFR + 1.281%)<sup>(c)</sup> | 45 | 37648 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.10%, 02/24/33 (Call 02/24/32), (1 day SOFR + 1.410%)<sup>(c)</sup> | 50 | 42835 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 09/29/25 (Call 09/29/24), <br> (3 mo. LIBOR US + 1.201%)<sup>(c)</sup> | 115 | 111474 |
| &nbsp;&nbsp;&nbsp;3.50%, 01/23/25 (Call 10/23/24) | 265 | 258192 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.62%, 03/15/28 (Call 03/15/27), (1 day SOFR + 1.846%)<sup>(c)</sup> | 100 | 95212 |
| &nbsp;&nbsp;&nbsp;3.75%, 02/25/26 (Call 11/25/25) | 194 | 189497 |
| &nbsp;&nbsp;&nbsp;3.85%, 01/26/27 (Call 01/26/26) | 120 | 116080 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/10/26 (Call 03/10/25), (1 day SOFR + 1.430%)<sup>(c)</sup> | 400 | 381276 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.76%, 03/29/33 (Call 03/29/32), (1 day SOFR + 2.530%)<sup>(c)</sup> | 200 | 184388 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.21%, 08/11/28 (Call 08/11/27)<sup>(c)</sup> | 400 | 401936 |
| Huntington National Bank (The), 4.55%, 05/17/28 (Call 05/17/27)<sup>(c)</sup> | 250 | 245947 |
| ING Groep NV, 3.87%, 03/28/26 (Call 03/28/25), (1 day SOFR + 1.640%)<sup>(c)</sup> | 200 | 194492 |
| Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.20%, 06/01/32 (Call 06/01/31)<sup>(a)(c)</sup> | 100 | 79418 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 06/01/42 (Call 06/01/41)<sup>(a)(c)</sup> | 50 | 36258 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.05%, 11/19/26 (Call 11/19/25), (1 day SOFR + 0.800%)<sup>(c)</sup> | 315 | 282231 |
| &nbsp;&nbsp;&nbsp;&nbsp;1.56%, 12/10/25 (Call 12/10/24), (1 day SOFR + 0.605%)<sup>(c)</sup> | 120 | 112375 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.01%, 03/13/26 (Call 03/13/25), (3 mo. SOFR + 1.585%)<sup>(c)</sup> | 96 | 90279 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.08%, 04/22/26 (Call 04/22/25), (1 day SOFR + 1.850%)<sup>(c)</sup> | 49 | 46018 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.60%, 02/24/26 (Call 02/24/25), <br> (1 day SOFR + 0.915%)<sup>(b)(c)</sup> | 78 | 74307 |
| &nbsp;&nbsp;&nbsp;2.95%, 10/01/26 (Call 07/01/26) | 151 | 143826 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.22%, 03/01/25 (Call 03/01/24), <br> (3 mo. LIBOR US + 1.155%)<sup>(c)</sup> | 62 | 60663 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.85%, 06/14/25 (Call 06/14/24)<sup>(c)</sup> | 58 | 57037 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.08%, 04/26/26 (Call 04/26/25), (1 day SOFR + 1.320%)<sup>(c)</sup> | 300 | 294708 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.59%, 04/26/33 (Call 04/26/32), (1 day SOFR + 1.800%)<sup>(c)</sup> | 120 | 116490 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 07/25/28 (Call 07/25/27)<sup>(c)</sup> | 225 | 224962 |
| Lloyds Banking Group PLC, 4.72%, 08/11/26 (Call 08/11/25)<sup>(c)</sup> | 400 | 394484 |
| Mitsubishi UFJ Financial Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.64%, 10/13/27 (Call 10/13/26)<sup>(c)</sup> | 360 | 317552 |
| &nbsp;&nbsp;&nbsp;2.80%, 07/18/24 | 200 | 193986 |
| Mizuho Financial Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.24%, 07/10/24 (Call 07/10/23), (1 day SOFR + 1.252%)<sup>(c)</sup> | 280 | 274593 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.84%, 07/16/25 (Call 07/16/24), (1 day SOFR + 1.242%)<sup>(c)</sup> | 300 | 288213 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.59%, 05/04/27 (Call 04/04/27), (1 day SOFR + 0.879%)<sup>(c)</sup> | 170 | 152709 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.19%, 04/28/26 (Call 04/28/25), (1 day SOFR + 1.990%)<sup>(b)(c)</sup> | 110 | 103343 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.24%, 07/21/32 (Call 07/21/31), (1 day SOFR + 1.178%)<sup>(c)</sup> | 105 | 85227 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.94%, 01/21/33 (Call 01/21/32), (1 day SOFR + 1.290%)<sup>(c)</sup> | 260 | 221658 |
| &nbsp;&nbsp;&nbsp;3.13%, 07/27/26 | 85 | 80589 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.62%, 04/17/25 (Call 04/17/24), (1 day SOFR + 1.160%)<sup>(c)</sup> | 300 | 294561 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.62%, 04/01/31 (Call 04/01/30), (1 day SOFR + 3.120%)<sup>(c)</sup> | 70 | 64341 |
| &nbsp;&nbsp;&nbsp;3.88%, 01/27/26 | 100 | 97696 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.68%, 07/17/26 (Call 07/17/25)<sup>(c)</sup> | 110 | 109107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series I, 0.86%, 10/21/25 (Call 10/21/24), (1 day SOFR + 0.745%)<sup>(c)</sup> | 195 | 180933 |
| NatWest Group PLC, 3.07%, 05/22/28 (Call 05/22/27)<sup>(c)</sup> | 200 | 184836 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Banks (continued)** |  |  |
| PNC Financial Services Group Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;3.45%, 04/23/29 (Call 01/23/29) | $100 | $94727 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.67%, 10/28/25 (Call 10/28/24)<sup>(c)</sup> | 95 | 96188 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, 10/07/24 | 50 | 46864 |
| &nbsp;&nbsp;&nbsp;1.20%, 04/27/26 | 75 | 67622 |
| &nbsp;&nbsp;&nbsp;2.05%, 01/21/27 | 100 | 91387 |
| Santander Holdings USA Inc., 3.45%, 06/02/25 (Call 05/02/25) | 85 | 81420 |
| Santander UK Group Holdings PLC, 1.09%, 03/15/25 (Call 03/15/24), (1 day SOFR + 0.787%)<sup>(c)</sup> | 330 | 312751 |
| Sumitomo Mitsui Financial Group Inc., 1.47%, 07/08/25 | 500 | 459130 |
| Toronto-Dominion Bank (The) |  |  |
| &nbsp;&nbsp;&nbsp;1.25%, 09/10/26 | 300 | 266484 |
| &nbsp;&nbsp;&nbsp;3.77%, 06/06/25 | 100 | 97919 |
| &nbsp;&nbsp;&nbsp;4.69%, 09/15/27 | 100 | 100562 |
| Truist Financial Corp., 1.27%, 03/02/27 (Call 03/02/26), (1 day SOFR + 0.609%)<sup>(c)</sup> | 192 | 173762 |
| U.S. Bancorp, 4.65%, 02/01/29 (Call 02/01/28)<sup>(c)</sup> | 40 | 39993 |
| U.S. Bancorp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.55%, 07/22/28 (Call 07/22/27)<sup>(c)</sup> | 170 | 169602 |
| &nbsp;&nbsp;&nbsp;Series X, 3.15%, 04/27/27 (Call 03/27/27) | 100 | 95562 |
| UniCredit SpA, 7.30%, 04/02/34 (Call 04/02/29)<sup>(a)(c)</sup> | 200 | 194530 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.16%, 02/11/26 (Call 02/11/25), (3 mo. LIBOR US + 0.750%)<sup>(c)</sup> | 150 | 141531 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.53%, 03/24/28 (Call 03/24/27), (1 day SOFR + 1.510%)<sup>(c)</sup> | 205 | 194869 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.91%, 04/25/26 (Call 04/25/25), (1 day SOFR + 1.320%)<sup>(c)</sup> | 500 | 488345 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.48%, 04/04/31 (Call 04/04/30), (1 day SOFR + 4.032%)<sup>(c)</sup> | 160 | 155784 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.54%, 08/15/26 (Call 08/15/25)<sup>(c)</sup> | 150 | 148551 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.81%, 07/25/28 (Call 07/25/27)<sup>(c)</sup> | 170 | 169670 |
| Westpac Banking Corp., 3.74%, 08/26/25 | 195 | 191252 |
|  |  | 16607677 |
| **Beverages — 1.6%** |  |  |
| Coca-Cola Co. (The), 1.45%, 06/01/27 | 250 | 225417 |
| Coca-Cola Femsa SAB de CV, 2.75%, 01/22/30 (Call 10/22/29) | 200 | 179068 |
| Constellation Brands Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.88%, 05/01/30 (Call 02/01/30) | 50 | 44220 |
| &nbsp;&nbsp;&nbsp;3.70%, 12/06/26 (Call 09/06/26) | 5 | 4838 |
| &nbsp;&nbsp;&nbsp;4.35%, 05/09/27 (Call 04/09/27) | 50 | 49395 |
| Diageo Capital PLC, 1.38%, 09/29/25 (Call 08/29/25) | 200 | 184412 |
| Keurig Dr Pepper Inc., 3.95%, 04/15/29 (Call 02/15/29) | 196 | 188644 |
| PepsiCo Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, 03/19/30 (Call 12/19/29) | 50 | 45494 |
| &nbsp;&nbsp;&nbsp;3.60%, 02/18/28 (Call 01/18/28) | 140 | 136811 |
| &nbsp;&nbsp;&nbsp;3.90%, 07/18/32 (Call 04/18/32) | 60 | 58625 |
|  |  | 1116924 |
| **Biotechnology — 0.8%** |  |  |
| Amgen Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.90%, 02/21/25 (Call 01/21/25) | 150 | 141606 |
| &nbsp;&nbsp;&nbsp;3.35%, 02/22/32 (Call 11/22/31) | 55 | 49816 |
| &nbsp;&nbsp;&nbsp;4.05%, 08/18/29 (Call 06/18/29) | 25 | 24169 |
| Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25) | 200 | 196288 |
| Regeneron Pharmaceuticals Inc., 1.75%, 09/15/30 (Call 06/15/30)<sup>(b)</sup> | 190 | 153239 |
|  |  | 565118 |
| **Building Materials — 0.1%** |  |  |
| Carrier Global Corp., 2.24%, 02/15/25 (Call 01/15/25) | 57 | 54119 |
| Louisiana-Pacific Corp., 3.63%, 03/15/29 (Call 03/15/24)<sup>(a)</sup> | 50 | 43459 |
|  |  | 97578 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Chemicals — 1.1%** |  |  |
| Air Products and Chemicals Inc., 1.50%, 10/15/25 (Call 09/15/25) | $100 | $92735 |
| Albemarle Corp., 5.05%, 06/01/32 (Call 03/01/32) | 65 | 64314 |
| Cabot Corp., 5.00%, 06/30/32 (Call 03/30/32) | 5 | 4874 |
| Chemours Co. (The), 5.38%, 05/15/27 (Call 02/15/27)<sup>(b)</sup> | 25 | 23149 |
| EI du Pont de Nemours and Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.70%, 07/15/25 (Call 06/15/25) | 100 | 93421 |
| &nbsp;&nbsp;&nbsp;2.30%, 07/15/30 (Call 04/15/30) | 200 | 173382 |
| FMC Corp., 3.20%, 10/01/26 (Call 08/01/26) | 30 | 28503 |
| PPG Industries Inc., 1.20%, 03/15/26 (Call 02/15/26) | 100 | 90042 |
| Sherwin-Williams Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.30%, 05/15/30 (Call 02/15/30) | 150 | 128312 |
| &nbsp;&nbsp;&nbsp;3.13%, 06/01/24 (Call 04/01/24) | 55 | 53767 |
|  |  | 752499 |
| **Commercial Services — 1.6%** |  |  |
| Automatic Data Processing Inc., 1.70%, 05/15/28 (Call 03/15/28) | 40 | 35653 |
| Block Financial LLC, 2.50%, 07/15/28 (Call 05/15/28) | 141 | 123766 |
| Cintas Corp. No. 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.45%, 05/01/25 (Call 04/01/25)<sup>(b)</sup> | 30 | 29229 |
| &nbsp;&nbsp;&nbsp;3.70%, 04/01/27 (Call 01/01/27) | 14 | 13653 |
| Neptune Bidco U.S. Inc., 9.29%, 04/15/29 (Call 10/15/25)<sup>(a)</sup> | 63 | 61310 |
| Prime Security Services Borrower LLC/Prime Finance Inc., 6.25%, 01/15/28 (Call 01/15/24)<sup>(a)(b)</sup> | 220 | 208624 |
| Quanta Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.95%, 10/01/24 (Call 03/03/23) | 80 | 74422 |
| &nbsp;&nbsp;&nbsp;2.35%, 01/15/32 (Call 10/15/31) | 35 | 27994 |
| S&P Global Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/01/27 (Call 02/01/27)<sup>(a)</sup> | 65 | 60417 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 03/01/32 (Call 12/01/31)<sup>(a)</sup> | 180 | 159417 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 01/22/27 (Call 10/22/26)<sup>(b)</sup> | 105 | 100043 |
| Verisk Analytics Inc., 4.00%, 06/15/25 (Call 03/15/25) | 208 | 203665 |
|  |  | 1098193 |
| **Computers — 2.7%** |  |  |
| Apple Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.13%, 05/11/25 (Call 04/11/25) | 500 | 465800 |
| &nbsp;&nbsp;&nbsp;1.40%, 08/05/28 (Call 06/05/28) | 50 | 43423 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.35%, 08/08/32 (Call 05/08/32)<sup>(b)</sup> | 150 | 140139 |
| Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 07/15/24 (Call 06/15/24) | 105 | 103671 |
| &nbsp;&nbsp;&nbsp;6.20%, 07/15/30 (Call 04/15/30) | 50 | 52770 |
| Fortinet Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, 03/15/26 (Call 02/15/26) | 150 | 133530 |
| &nbsp;&nbsp;&nbsp;2.20%, 03/15/31 (Call 12/15/30) | 40 | 32839 |
| International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.70%, 05/15/27 (Call 03/15/27) | 150 | 134289 |
| &nbsp;&nbsp;&nbsp;4.00%, 07/27/25 | 395 | 390082 |
| &nbsp;&nbsp;&nbsp;4.15%, 07/27/27 (Call 06/27/27) | 270 | 267740 |
| &nbsp;&nbsp;&nbsp;4.40%, 07/27/32 (Call 04/27/32) | 100 | 98377 |
| Kyndryl Holdings Inc., 2.70%, 10/15/28 (Call 08/15/28) | 10 | 8082 |
|  |  | 1870742 |
| **Cosmetics & Personal Care — 0.3%** |  |  |
| Colgate-Palmolive Co., 3.25%, 08/15/32 (Call 05/15/32) | 90 | 84540 |
| Coty Inc., 6.50%, 04/15/26 (Call 04/15/23)<sup>(a)(b)</sup> | 85 | 83810 |
| Procter & Gamble Co. (The), 2.30%, 02/01/32 | 50 | 43876 |
|  |  | 212226 |
| **Diversified Financial Services — 3.2%** |  |  |
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, 01/30/26 (Call 12/30/25) | 250 | 224417 |
| &nbsp;&nbsp;&nbsp;3.00%, 10/29/28 (Call 08/29/28) | 150 | 131951 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Diversified Financial Services (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;4.63%, 10/15/27 (Call 08/15/27) | $150 | $144640 |
| Air Lease Corp., 3.38%, 07/01/25 (Call 06/01/25) | 105 | 100212 |
| American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.25%, 03/04/25 (Call 02/01/25) | 150 | 142761 |
| &nbsp;&nbsp;&nbsp;3.95%, 08/01/25 (Call 07/01/25) | 70 | 68977 |
| &nbsp;&nbsp;&nbsp;4.05%, 05/03/29 (Call 03/03/29) | 38 | 37133 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.27%, 03/01/30 (Call 03/01/29), (1 day SOFR + 1.790%)<sup>(c)</sup> | 50 | 44466 |
| &nbsp;&nbsp;&nbsp;3.90%, 01/29/24 (Call 12/29/23) | 160 | 158219 |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;1.15%, 05/13/26 (Call 04/13/26) | 195 | 175243 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.45%, 03/03/27 (Call 02/03/27)<sup>(b)</sup> | 100 | 93040 |
| CME Group Inc., 3.75%, 06/15/28 (Call 03/15/28) | 40 | 39270 |
| Intercontinental Exchange Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.85%, 09/15/32 (Call 06/15/32) | 35 | 27505 |
| &nbsp;&nbsp;&nbsp;3.75%, 12/01/25 (Call 09/01/25) | 100 | 98328 |
| LPL Holdings Inc., 4.00%, 03/15/29 (Call 03/15/24)<sup>(a)(b)</sup> | 125 | 111864 |
| Mastercard Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, 11/21/26 (Call 08/21/26) | 35 | 33533 |
| &nbsp;&nbsp;&nbsp;3.30%, 03/26/27 (Call 01/26/27) | 100 | 97186 |
| NFP Corp., 6.88%, 08/15/28 (Call 08/15/23)<sup>(a)</sup> | 112 | 96980 |
| Nomura Holdings Inc., 1.85%, 07/16/25 | 200 | 184080 |
| StoneX Group Inc., 8.63%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 100 | 101063 |
| Visa Inc., 2.75%, 09/15/27 (Call 06/15/27) | 100 | 94747 |
|  |  | 2205615 |
| **Electric — 4.2%** |  |  |
| AES Corp. (The), 1.38%, 01/15/26 (Call 12/15/25) | 50 | 45047 |
| Alabama Power Co., Series 20-A, 1.45%, 09/15/30 (Call 06/15/30) | 50 | 40360 |
| Ameren Corp., 2.50%, 09/15/24 (Call 08/15/24) | 100 | 96271 |
| American Electric Power Co. Inc., 2.03%, 03/15/24 | 50 | 48327 |
| Arizona Public Service Co., 2.20%, 12/15/31 (Call 09/15/31) | 15 | 11906 |
| Berkshire Hathaway Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.65%, 05/15/31 (Call 02/15/31) | 75 | 60304 |
| &nbsp;&nbsp;&nbsp;4.05%, 04/15/25 (Call 03/15/25) | 60 | 59278 |
| Black Hills Corp., 3.95%, 01/15/26 (Call 07/15/25) | 50 | 48550 |
| CenterPoint Energy Inc., 2.65%, 06/01/31 (Call 03/01/31) | 20 | 17139 |
| Consolidated Edison Co. of New York Inc., 2.40%, 06/15/31 (Call 03/15/31)<sup>(b)</sup> | 25 | 21376 |
| Consumers Energy Co., 3.60%, 08/15/32 (Call 02/15/32) | 30 | 28170 |
| Dominion Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp;Series C, 2.25%, 08/15/31 (Call 05/15/31) | 35 | 29056 |
| &nbsp;&nbsp;&nbsp;Series D, 2.85%, 08/15/26 (Call 05/15/26) | 50 | 46851 |
| DTE Electric Co., Series A, 1.90%, 04/01/28 (Call 02/01/28) | 80 | 71050 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, 12/01/26 (Call 09/01/26) | 130 | 124149 |
| &nbsp;&nbsp;&nbsp;4.95%, 01/15/33 | 20 | 20537 |
| Duke Energy Corp., 4.50%, 08/15/32 (Call 05/15/32) | 10 | 9738 |
| Duke Energy Florida LLC, 2.40%, 12/15/31 (Call 09/15/31) | 130 | 110587 |
| Duke Energy Progress LLC, 3.40%, 04/01/32 (Call 01/01/32) | 20 | 18337 |
| Entergy Corp., 2.40%, 06/15/31 (Call 03/05/31) | 40 | 33084 |
| Eversource Energy, 2.90%, 03/01/27 (Call 02/01/27) | 70 | 65662 |
| Exelon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.35%, 03/15/32 | 20 | 18060 |
| &nbsp;&nbsp;&nbsp;3.40%, 04/15/26 (Call 01/15/26) | 70 | 67281 |
| Florida Power & Light Co., 2.45%, 02/03/32 (Call 11/03/31) | 60 | 51817 |
| Georgia Power Co., 4.70%, 05/15/32 (Call 02/15/32) | 10 | 9954 |
| National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, 06/15/26 (Call 05/15/26) | 25 | 22330 |
| &nbsp;&nbsp;&nbsp;3.70%, 03/15/29 (Call 12/15/28) | 40 | 37768 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Electric (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;4.15%, 12/15/32 (Call 09/15/32) | $15 | $14401 |
| NextEra Energy Capital Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.88%, 01/15/27 (Call 12/15/26) | 150 | 135439 |
| &nbsp;&nbsp;&nbsp;3.55%, 05/01/27 (Call 02/01/27) | 84 | 80637 |
| NRG Energy Inc., 5.25%, 06/15/29 (Call 06/15/24)<sup>(a)</sup> | 43 | 38823 |
| Oncor Electric Delivery Co. LLC, 4.15%, 06/01/32 | 50 | 48943 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, 02/01/31 (Call 11/01/30) | 45 | 36361 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 06/15/28 (Call 04/15/28)<sup>(b)</sup> | 55 | 49268 |
| &nbsp;&nbsp;&nbsp;3.15%, 01/01/26 | 20 | 18936 |
| &nbsp;&nbsp;&nbsp;3.25%, 06/01/31 (Call 03/01/31) | 20 | 16959 |
| &nbsp;&nbsp;&nbsp;4.55%, 07/01/30 (Call 01/01/30) | 40 | 37313 |
| PG&E Corp., 5.25%, 07/01/30 (Call 06/15/25)<sup>(b)</sup> | 200 | 184292 |
| PPL Capital Funding Inc., 4.13%, 04/15/30 (Call 01/15/30) | 30 | 28870 |
| Public Service Co. of New Hampshire, Series V, 2.20%, 06/15/31 (Call 03/15/31) | 20 | 16979 |
| Public Service Co. of Oklahoma, Series J, 2.20%, 08/15/31 (Call 05/15/31)<sup>(b)</sup> | 60 | 49709 |
| Public Service Electric & Gas Co., 3.10%, 03/15/32 (Call 12/15/31) | 50 | 45310 |
| Public Service Enterprise Group Inc., 1.60%, 08/15/30 (Call 05/15/30) | 20 | 16053 |
| Puget Energy Inc., 2.38%, 06/15/28 (Call 04/15/28) | 10 | 8817 |
| San Diego Gas & Electric Co., 2.50%, 05/15/26 (Call 02/15/26) | 50 | 46917 |
| Sempra Energy, 3.40%, 02/01/28 (Call 10/01/27) | 50 | 47421 |
| Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.10%, 04/01/24 (Call 04/01/23) | 50 | 47845 |
| &nbsp;&nbsp;&nbsp;2.75%, 02/01/32 (Call 11/01/31) | 30 | 25964 |
| &nbsp;&nbsp;&nbsp;2.85%, 08/01/29 (Call 05/01/29) | 25 | 22365 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp;5.11%, 08/01/27 | 50 | 50729 |
| &nbsp;&nbsp;&nbsp;5.70%, 10/15/32 (Call 04/15/32) | 30 | 31998 |
| Southern Power Co., 4.15%, 12/01/25 (Call 09/01/25) | 75 | 74293 |
| Southwestern Electric Power Co., Series N, 1.65%, 03/15/26 (Call 02/15/26)<sup>(b)</sup> | 90 | 81931 |
| Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, 03/15/32 (Call 12/15/31) | 40 | 32916 |
| &nbsp;&nbsp;&nbsp;2.95%, 06/15/27 (Call 03/15/27) | 40 | 38044 |
| Virginia Electric & Power Co., Series B, 3.75%, 05/15/27 (Call 04/15/27) | 130 | 126753 |
| Vistra Operations Co. LLC, 5.00%, 07/31/27 (Call 07/31/23)<sup>(a)</sup> | 20 | 18812 |
| Wisconsin Electric Power Co., 4.75%, 09/30/32 (Call 06/30/32) | 40 | 40782 |
| Wisconsin Power and Light Co., 3.95%, 09/01/32 (Call 06/01/32) | 40 | 38168 |
| Xcel Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, 03/15/27 (Call 02/15/27) | 80 | 72003 |
| &nbsp;&nbsp;&nbsp;4.60%, 06/01/32 (Call 12/01/31) | 10 | 9901 |
|  |  | 2846941 |
| **Electrical Components & Equipment — 0.1%** |  |  |
| Emerson Electric Co., 2.20%, 12/21/31 (Call 09/21/31) | 100 | 83454 |
| **Electronics — 0.8%** |  |  |
| Agilent Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.30%, 03/12/31 (Call 12/12/30) | 85 | 71379 |
| &nbsp;&nbsp;&nbsp;3.05%, 09/22/26 (Call 06/22/26) | 150 | 142045 |
| Allegion U.S. Holding Co. Inc., 3.20%, 10/01/24 (Call 08/01/24) | 25 | 24182 |
| Amphenol Corp., 2.05%, 03/01/25 (Call 02/01/25) | 40 | 37904 |
| Avnet Inc., 4.63%, 04/15/26 (Call 01/15/26) | 100 | 97904 |
| Flex Ltd., 4.88%, 06/15/29 (Call 03/15/29) | 50 | 49239 |
| Jabil Inc., 1.70%, 04/15/26 (Call 03/15/26) | 75 | 67754 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Electronics (continued)** |  |  |
| Keysight Technologies Inc., 4.60%, 04/06/27 (Call 01/06/27) | $65 | $65118 |
|  |  | 555525 |
| **Engineering & Construction — 0.1%** |  |  |
| AECOM, 5.13%, 03/15/27 (Call 12/15/26) | 100 | 98249 |
| **Entertainment — 0.1%** |  |  |
| Churchill Downs Inc., 4.75%, 01/15/28 (Call 01/15/24)<sup>(a)</sup> | 76 | 71100 |
| **Environmental Control — 0.2%** |  |  |
| Republic Services Inc., 3.38%, 11/15/27 (Call 08/15/27) | 75 | 71579 |
| Waste Connections Inc., 3.50%, 05/01/29 (Call 02/01/29) | 40 | 37573 |
|  |  | 109152 |
| **Food — 2.0%** |  |  |
| Albertsons Companies Inc./Safeway Inc./New |  |  |
| Albertsons LP/Albertsons LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 01/15/27 (Call 01/15/24)<sup>(a)</sup> | 40 | 37969 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 02/15/30 (Call 02/15/25)<sup>(a)(b)</sup> | 200 | 184348 |
| Campbell Soup Co., 4.15%, 03/15/28 (Call 12/15/27) | 150 | 147286 |
| General Mills Inc., 4.00%, 04/17/25 (Call 02/17/25) | 400 | 393940 |
| Kellogg Co., 4.30%, 05/15/28 (Call 02/15/28) | 150 | 149604 |
| Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, 06/01/26 (Call 03/01/26) | 200 | 190406 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 05/15/27 (Call 02/15/27)<sup>(b)</sup> | 165 | 160715 |
| Post Holdings Inc., 5.50%, 12/15/29 (Call 12/15/24)<sup>(a)</sup> | 100 | 92784 |
|  |  | 1357052 |
| **Gas — 0.6%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 5.75%, 05/20/27 (Call 02/20/27) | 76 | 71625 |
| Eastern Energy Gas Holdings LLC, Series A, 2.50%, 11/15/24 (Call 10/15/24) | 50 | 48196 |
| National Fuel Gas Co., 2.95%, 03/01/31 (Call 12/01/30) | 15 | 12174 |
| NiSource Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.95%, 08/15/25 (Call 07/15/25) | 140 | 127709 |
| &nbsp;&nbsp;&nbsp;1.70%, 02/15/31 (Call 11/15/30) | 30 | 23861 |
| Southern California Gas Co., 2.95%, 04/15/27 (Call 03/15/27) | 70 | 66248 |
| Southwest Gas Corp., 4.05%, 03/15/32 (Call 12/15/31) | 35 | 32259 |
|  |  | 382072 |
| **Health Care - Products — 0.2%** |  |  |
| Abbott Laboratories, 1.40%, 06/30/30 (Call 03/30/30) | 150 | 124041 |
| **Health Care - Services — 2.5%** |  |  |
| DaVita Inc., 4.63%, 06/01/30 (Call 06/01/25)<sup>(a)</sup> | 120 | 101096 |
| Elevance Health Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.50%, 03/15/26 (Call 02/15/26)<sup>(b)</sup> | 110 | 100285 |
| &nbsp;&nbsp;&nbsp;3.65%, 12/01/27 (Call 09/01/27) | 100 | 96495 |
| Encompass Health Corp., 4.75%, 02/01/30 (Call 02/01/25) | 120 | 109985 |
| HCA Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, 09/01/30 (Call 03/01/30) | 35 | 31376 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 03/15/32 (Call 12/15/31)<sup>(a)</sup> | 100 | 88614 |
| &nbsp;&nbsp;&nbsp;5.25%, 04/15/25 | 5 | 5005 |
| Humana Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.70%, 03/23/29 (Call 02/23/29) | 40 | 37689 |
| &nbsp;&nbsp;&nbsp;4.50%, 04/01/25 (Call 03/01/25) | 100 | 99557 |
| Laboratory Corp. of America Holdings, 1.55%, 06/01/26 (Call 05/01/26) | 65 | 58510 |
| Molina Healthcare Inc., 3.88%, 05/15/32 (Call 02/15/32)<sup>(a)(b)</sup> | 150 | 125820 |
| Tenet Healthcare Corp., 6.13%, 10/01/28 (Call 10/01/23)<sup>(b)</sup> | 99 | 92200 |
| UnitedHealth Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.15%, 05/15/26 (Call 04/15/26) | 50 | 45298 |
| &nbsp;&nbsp;&nbsp;2.30%, 05/15/31 (Call 02/15/31) | 50 | 43006 |
| &nbsp;&nbsp;&nbsp;3.10%, 03/15/26 | 235 | 227323 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Health Care - Services (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 05/15/29 (Call 03/15/29) | $100 | $98032 |
| &nbsp;&nbsp;&nbsp;4.20%, 05/15/32 (Call 02/15/32) | 50 | 49283 |
| &nbsp;&nbsp;&nbsp;5.30%, 02/15/30 (Call 12/15/29) | 300 | 314934 |
|  |  | 1724508 |
| **Holding Companies - Diversified — 0.8%** |  |  |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.15%, 07/15/26 (Call 06/15/26) | 68 | 59480 |
| &nbsp;&nbsp;&nbsp;2.88%, 06/15/28 (Call 04/15/28) | 95 | 80208 |
| Barings BDC Inc., 3.30%, 11/23/26 (Call 10/23/26) | 30 | 26521 |
| Blackstone Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;2.63%, 12/15/26 (Call 11/15/26) | 25 | 21505 |
| &nbsp;&nbsp;&nbsp;2.70%, 01/15/25 (Call 11/15/24) | 60 | 56144 |
| Blackstone Secured Lending Fund, 2.85%, 09/30/28 (Call 07/30/28) | 19 | 15548 |
| FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.63%, 01/15/27 (Call 12/15/26) | 60 | 51866 |
| &nbsp;&nbsp;&nbsp;3.40%, 01/15/26 (Call 12/15/25) | 40 | 36552 |
| Golub Capital BDC Inc., 2.50%, 08/24/26 (Call 07/24/26) | 20 | 17549 |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.38%, 02/01/29 (Call 08/01/28) | 100 | 87154 |
| &nbsp;&nbsp;&nbsp;6.38%, 12/15/25 (Call 03/03/23) | 41 | 40646 |
| Prospect Capital Corp., 3.44%, 10/15/28 (Call 08/15/28) | 50 | 40299 |
|  |  | 533472 |
| **Home Builders — 0.1%** |  |  |
| NVR Inc., 3.00%, 05/15/30 (Call 11/15/29) | 75 | 65570 |
| **Insurance — 1.6%** |  |  |
| Aflac Inc., 3.60%, 04/01/30 (Call 01/01/30) | 102 | 96811 |
| Aon Corp., 2.80%, 05/15/30 (Call 02/15/30) | 50 | 44341 |
| Brown & Brown Inc., 4.20%, 03/17/32 (Call 12/17/31) | 15 | 13733 |
| Enstar Group Ltd., 3.10%, 09/01/31 (Call 03/01/31) | 105 | 81378 |
| Fairfax Financial Holdings Ltd., 3.38%, 03/03/31 (Call 12/03/30) | 30 | 25417 |
| Marsh & McLennan Companies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.38%, 12/15/31 (Call 09/15/31) | 690 | 578599 |
| &nbsp;&nbsp;&nbsp;4.38%, 03/15/29 (Call 12/15/28) | 60 | 59415 |
| Progressive Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, 03/15/27 (Call 02/15/27) | 50 | 46726 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 03/15/32 (Call 12/15/31)<sup>(b)</sup> | 80 | 72267 |
| Willis North America Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.95%, 09/15/29 (Call 06/15/29) | 55 | 48601 |
| &nbsp;&nbsp;&nbsp;4.65%, 06/15/27 (Call 05/15/27) | 50 | 49497 |
|  |  | 1116785 |
| **Internet — 0.9%** |  |  |
| Amazon.com Inc., 3.30%, 04/13/27 (Call 03/13/27) | 200 | 193386 |
| Meta Platforms Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.50%, 08/15/27 | 90 | 86394 |
| &nbsp;&nbsp;&nbsp;3.85%, 08/15/32 | 25 | 23280 |
| NortonLifeLock Inc., 6.75%, 09/30/27 (Call 09/30/24)<sup>(a)(b)</sup> | 77 | 78079 |
| VeriSign Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.70%, 06/15/31 (Call 03/15/31) | 35 | 30105 |
| &nbsp;&nbsp;&nbsp;5.25%, 04/01/25 (Call 01/01/25) | 200 | 200774 |
|  |  | 612018 |
| **Iron & Steel — 0.8%** |  |  |
| Mineral Resources Ltd., 8.50%, 05/01/30 (Call 05/01/25)<sup>(a)</sup> | 140 | 145006 |
| Reliance Steel & Aluminum Co. |  |  |
| &nbsp;&nbsp;&nbsp;1.30%, 08/15/25 (Call 07/15/25) | 100 | 91641 |
| &nbsp;&nbsp;&nbsp;2.15%, 08/15/30 (Call 05/15/30) | 80 | 66277 |
| Steel Dynamics Inc., 3.25%, 01/15/31 (Call 10/15/30) | 300 | 270498 |
|  |  | 573422 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Leisure Time — 0.6%** |  |  |
| Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.63%, 03/01/26 (Call 03/01/24)<sup>(a)</sup> | $91 | $82825 |
| &nbsp;&nbsp;&nbsp;&nbsp;10.50%, 06/01/30 (Call 06/01/25)<sup>(a)</sup> | 43 | 41437 |
| NCL Corp. Ltd., 5.88%, 03/15/26 (Call 12/15/25)<sup>(a)</sup> | 100 | 86497 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 08/31/26 (Call 02/28/26)<sup>(a)</sup> | 100 | 89456 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.63%, 08/15/27 (Call 08/15/24)<sup>(a)(b)</sup> | 104 | 110396 |
|  |  | 410611 |
| **Lodging — 0.6%** |  |  |
| Choice Hotels International Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.70%, 12/01/29 (Call 09/01/29) | 85 | 76632 |
| &nbsp;&nbsp;&nbsp;3.70%, 01/15/31 (Call 10/15/30) | 90 | 79816 |
| Hilton Domestic Operating Co. Inc., 4.88%, 01/15/30 (Call 01/15/25) | 100 | 94207 |
| Marriott International Inc./MD, 5.00%, 10/15/27 (Call 09/15/27) | 50 | 50425 |
| Sands China Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;5.63%, 08/08/25 (Call 06/08/25) | 75 | 74467 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.90%, 08/08/28 (Call 05/08/28)<sup>(b)</sup> | 50 | 49213 |
|  |  | 424760 |
| **Machinery — 1.4%** |  |  |
| Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.80%, 11/13/25 | 90 | 81644 |
| &nbsp;&nbsp;&nbsp;3.40%, 05/13/25 | 300 | 293280 |
| IDEX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.63%, 06/15/31 (Call 03/15/31) | 140 | 119927 |
| &nbsp;&nbsp;&nbsp;3.00%, 05/01/30 (Call 02/01/30) | 180 | 160380 |
| John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.45%, 01/09/30 | 50 | 44479 |
| &nbsp;&nbsp;&nbsp;3.40%, 06/06/25 | 190 | 185495 |
| Westinghouse Air Brake Technologies Corp., 3.20%, 06/15/25 (Call 05/15/25) | 95 | 89822 |
|  |  | 975027 |
| **Manufacturing — 0.6%** |  |  |
| 3M Co., 2.88%, 10/15/27 (Call 07/15/27) | 100 | 93618 |
| Carlisle Companies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.20%, 03/01/32 (Call 12/01/31) | 10 | 7987 |
| &nbsp;&nbsp;&nbsp;2.75%, 03/01/30 (Call 12/01/29) | 34 | 29379 |
| Teledyne Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.95%, 04/01/24 (Call 03/03/23) | 250 | 238193 |
| &nbsp;&nbsp;&nbsp;2.25%, 04/01/28 (Call 02/01/28) | 30 | 26650 |
|  |  | 395827 |
| **Media — 2.6%** |  |  |
| CCO Holdings LLC/CCO Holdings Capital Corp., 6.38%, 09/01/29 (Call 09/01/25)<sup>(a)</sup> | 160 | 154371 |
| Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.65%, 02/01/30 (Call 11/01/29) | 50 | 44683 |
| &nbsp;&nbsp;&nbsp;3.95%, 10/15/25 (Call 08/15/25) | 150 | 147975 |
| CSC Holdings LLC, 7.50%, 04/01/28 (Call 04/01/23)<sup>(a)</sup> | 100 | 73054 |
| Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)<sup>(a)</sup> | 144 | 130429 |
| DISH DBS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.75%, 12/01/28 (Call 12/01/27)<sup>(a)</sup> | 70 | 57412 |
| &nbsp;&nbsp;&nbsp;7.38%, 07/01/28 (Call 07/01/23) | 70 | 50326 |
| &nbsp;&nbsp;&nbsp;7.75%, 07/01/26 | 139 | 112761 |
| FactSet Research Systems Inc., 2.90%, 03/01/27 (Call 02/01/27)<sup>(b)</sup> | 225 | 210249 |
| GCI LLC, 4.75%, 10/15/28 (Call 10/15/23)<sup>(a)</sup> | 100 | 87858 |
| iHeartCommunications Inc., 8.38%, 05/01/27 (Call 05/01/23)<sup>(b)</sup> | 49 | 43838 |
| Nexstar Media Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 11/01/28 (Call 11/01/23)<sup>(a)(b)</sup> | 90 | 81031 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Media (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/15/27 (Call 07/15/23)<sup>(a)(b)</sup> | $55 | $52397 |
| Sirius XM Radio Inc., 5.50%, 07/01/29 (Call 07/01/24)<sup>(a)</sup> | 150 | 140643 |
| Univision Communications Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 06/01/27 (Call 06/01/23)<sup>(a)</sup> | 85 | 83279 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 06/30/30 (Call 06/30/25)<sup>(a)</sup> | 41 | 40193 |
| Virgin Media Finance PLC, 5.00%, 07/15/30 (Call 07/15/25)<sup>(a)(b)</sup> | 200 | 167964 |
| Ziggo Bond Co. BV, 5.13%, 02/28/30 (Call 02/15/25)<sup>(a)</sup> | 100 | 82634 |
|  |  | 1761097 |
| **Mining — 0.2%** |  |  |
| FMG Resources August 2006 Pty Ltd., 4.50%, 09/15/27 (Call 06/15/27)<sup>(a)</sup> | 45 | 42806 |
| FMG Resources August Pty. Ltd., 6.13%, 04/15/32 (Call 01/15/32)<sup>(a)</sup> | 100 | 97507 |
| Rio Tinto Finance USA Ltd., 7.13%, 07/15/28 | 13 | 14633 |
|  |  | 154946 |
| **Office & Business Equipment — 0.2%** |  |  |
| CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.67%, 12/01/26 (Call 11/01/26) | 100 | 90014 |
| &nbsp;&nbsp;&nbsp;4.25%, 04/01/28 (Call 10/01/23) | 25 | 23180 |
|  |  | 113194 |
| **Oil & Gas — 4.5%** |  |  |
| Apache Corp., 4.25%, 01/15/30 (Call 10/15/29) | 160 | 146686 |
| Burlington Resources LLC, 7.40%, 12/01/31 | 300 | 355536 |
| Canadian Natural Resources Ltd., 2.05%, 07/15/25 (Call 06/15/25) | 200 | 187258 |
| Chesapeake Energy Corp., 6.75%, 04/15/29 (Call 04/15/24)<sup>(a)</sup> | 140 | 138111 |
| Chevron Corp., 2.95%, 05/16/26 (Call 02/16/26) | 200 | 192288 |
| Chevron USA Inc., 3.85%, 01/15/28 (Call 10/15/27) | 30 | 29614 |
| Civitas Resources Inc., 5.00%, 10/15/26 (Call 10/15/23)<sup>(a)</sup> | 100 | 93607 |
| ConocoPhillips Co., 6.95%, 04/15/29 | 134 | 151815 |
| Continental Resources Inc./OK, 3.80%, 06/01/24 (Call 03/01/24) | 50 | 49036 |
| Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, 01/15/30 (Call 01/15/25) | 26 | 25112 |
| &nbsp;&nbsp;&nbsp;7.95%, 04/15/32 | 134 | 158498 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.90%, 10/01/27 (Call 07/01/27) | 220 | 208633 |
| &nbsp;&nbsp;&nbsp;6.13%, 02/01/25 (Call 01/01/25) | 25 | 25283 |
| &nbsp;&nbsp;&nbsp;7.00%, 02/01/30 (Call 11/01/29) | 110 | 116994 |
| Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.61%, 10/15/30 (Call 07/15/30) | 110 | 99195 |
| &nbsp;&nbsp;&nbsp;2.99%, 03/19/25 (Call 02/19/25) | 100 | 97273 |
| Hess Corp., 4.30%, 04/01/27 (Call 01/01/27) | 55 | 53891 |
| Marathon Petroleum Corp., 4.70%, 05/01/25 (Call 04/01/25) | 100 | 99881 |
| Murphy Oil Corp., 5.88%, 12/01/27 (Call 12/01/23) | 15 | 14791 |
| Northern Oil and Gas Inc., 8.13%, 03/01/28 (Call 03/01/24)<sup>(a)(b)</sup> | 150 | 149484 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.13%, 01/01/31 (Call 07/01/30) | 150 | 156808 |
| &nbsp;&nbsp;&nbsp;8.88%, 07/15/30 (Call 01/15/30) | 70 | 82322 |
| Ovintiv Inc., 7.20%, 11/01/31 | 10 | 10913 |
| Pioneer Natural Resources Co., 1.13%, 01/15/26 (Call 12/15/25) | 50 | 45255 |
| Talos Production Inc., 12.00%, 01/15/26 (Call 01/15/24) | 185 | 196196 |
| Transocean Inc., 11.50%, 01/30/27 (Call 07/30/23)<sup>(a)</sup> | 38 | 39679 |
| Vermilion Energy Inc., 6.88%, 05/01/30 (Call 05/01/25)<sup>(a)(b)</sup> | 140 | 129091 |
|  |  | 3053250 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Oil & Gas Services — 0.4%** |  |  |
| Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.06%, 12/15/26 (Call 11/15/26) | $100 | $91098 |
| &nbsp;&nbsp;&nbsp;3.14%, 11/07/29 (Call 08/07/29) | 60 | 54589 |
| USA Compression Partners LP/USA Compression Finance Corp., 6.88%, 09/01/27 (Call 09/01/23) | 80 | 77623 |
| Weatherford International Ltd., 8.63%, 04/30/30 (Call 10/30/24)<sup>(a)(b)</sup> | 27 | 27217 |
|  |  | 250527 |
| **Packaging & Containers — 0.2%** |  |  |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 5.25%, 08/15/27 (Call 08/15/23)<sup>(a)(b)</sup> | 200 | 163816 |
| **Pharmaceuticals — 3.7%** |  |  |
| AbbVie Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.60%, 11/21/24 (Call 10/21/24) | 150 | 144561 |
| &nbsp;&nbsp;&nbsp;3.20%, 11/21/29 (Call 08/21/29) | 60 | 55731 |
| &nbsp;&nbsp;&nbsp;3.80%, 03/15/25 (Call 12/15/24) | 400 | 392528 |
| AmerisourceBergen Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, 03/01/25 (Call 12/01/24) | 100 | 96803 |
| &nbsp;&nbsp;&nbsp;3.45%, 12/15/27 (Call 09/15/27) | 158 | 150983 |
| Bausch Health Americas Inc., 8.50%, 01/31/27 (Call 07/31/23)<sup>(a)(b)</sup> | 67 | 35334 |
| Bausch Health Cos. Inc., 11.00%, 09/30/28<sup>(a)</sup> | 63 | 49325 |
| BellRing Brands Inc., 7.00%, 03/15/30 (Call 03/15/27)<sup>(a)</sup> | 155 | 154668 |
| Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, 11/13/25 (Call 10/13/25) | 100 | 90801 |
| &nbsp;&nbsp;&nbsp;1.45%, 11/13/30 (Call 08/13/30) | 60 | 49098 |
| &nbsp;&nbsp;&nbsp;2.95%, 03/15/32 (Call 12/15/31) | 200 | 181286 |
| Cardinal Health Inc., 3.41%, 06/15/27 (Call 03/15/27) | 100 | 95325 |
| Cigna Corp., 3.40%, 03/01/27 (Call 12/01/26) | 200 | 191466 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.30%, 08/21/27 (Call 06/21/27) | 142 | 123101 |
| &nbsp;&nbsp;&nbsp;1.88%, 02/28/31 (Call 11/28/30) | 50 | 40518 |
| &nbsp;&nbsp;&nbsp;3.00%, 08/15/26 (Call 06/15/26) | 150 | 141864 |
| Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)<sup>(a)</sup> | 200 | 182710 |
| McKesson Corp., 0.90%, 12/03/25 (Call 11/03/25) | 55 | 49496 |
| Merck & Co. Inc., 0.75%, 02/24/26 (Call 01/24/26) | 120 | 107986 |
| Option Care Health Inc., 4.38%, 10/31/29 (Call 10/31/24)<sup>(a)</sup> | 155 | 134444 |
| Zoetis Inc., 2.00%, 05/15/30 (Call 02/15/30) | 90 | 76280 |
|  |  | 2544308 |
| **Pipelines — 5.3%** |  |  |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.70%, 11/15/29 (Call 05/18/29) | 165 | 155014 |
| &nbsp;&nbsp;&nbsp;5.13%, 06/30/27 (Call 01/01/27) | 230 | 231707 |
| &nbsp;&nbsp;&nbsp;5.88%, 03/31/25 (Call 10/02/24) | 100 | 101022 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (Call 06/15/26)<sup>(a)</sup> | 100 | 91144 |
| Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 8.00%, 04/01/29 (Call 04/01/24)<sup>(a)(b)</sup> | 75 | 76604 |
| DCP Midstream Operating LP, 3.25%, 02/15/32 (Call 08/15/31) | 60 | 52040 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, 05/15/30 (Call 02/15/30) | 250 | 229405 |
| &nbsp;&nbsp;&nbsp;5.75%, 02/15/33 | 60 | 61756 |
| EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/27 (Call 06/01/24)<sup>(a)</sup> | 80 | 80221 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 06/01/30 (Call 12/01/29)<sup>(a)(b)</sup> | 80 | 79868 |
| Genesis Energy LP/Genesis Energy Finance Corp., 8.00%, 01/15/27 (Call 01/15/24) | 44 | 43438 |
| Global Partners LP/GLP Finance Corp., 6.88%, 01/15/29 (Call 01/15/24) | 75 | 70730 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Pipelines (continued)** |  |  |
| Kinder Morgan Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, 11/15/26 (Call 10/15/26) | $100 | $89741 |
| &nbsp;&nbsp;&nbsp;5.20%, 06/01/33 | 45 | 44862 |
| &nbsp;&nbsp;&nbsp;7.75%, 01/15/32 | 30 | 34965 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;1.75%, 03/01/26 (Call 02/01/26) | 140 | 127441 |
| &nbsp;&nbsp;&nbsp;2.65%, 08/15/30 (Call 05/15/30) | 650 | 554957 |
| New Fortress Energy Inc., 6.50%, 09/30/26 (Call 03/31/23)<sup>(a)</sup> | 200 | 184638 |
| ONEOK Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.20%, 09/15/25 (Call 08/15/25) | 100 | 92974 |
| &nbsp;&nbsp;&nbsp;2.75%, 09/01/24 (Call 08/01/24) | 190 | 183303 |
| &nbsp;&nbsp;&nbsp;6.10%, 11/15/32 (Call 08/15/32) | 150 | 157554 |
| &nbsp;&nbsp;&nbsp;6.35%, 01/15/31 (Call 10/15/30). | 105 | 111771 |
| Plains All American Pipeline LP/PAA Finance Corp., 3.55%, 12/15/29 (Call 09/15/29) | 50 | 44970 |
| Sabine Pass Liquefaction LLC, 5.75%, 05/15/24 (Call 02/15/24) | 240 | 241435 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;4.88%, 02/01/31 (Call 02/01/26) | 120 | 112835 |
| &nbsp;&nbsp;&nbsp;6.50%, 07/15/27 (Call 07/15/23) | 100 | 102253 |
| &nbsp;&nbsp;&nbsp;6.88%, 01/15/29 (Call 01/15/24) | 121 | 124024 |
| Transcontinental Gas Pipe Line Co. LLC, 3.25%, 05/15/30 (Call 02/15/30) | 85 | 76644 |
| Williams Companies Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.60%, 03/15/31 (Call 12/15/30) | 30 | 25414 |
| &nbsp;&nbsp;&nbsp;4.65%, 08/15/32 (Call 05/15/32) | 80 | 78038 |
|  |  | 3660768 |
| **Real Estate — 0.4%** |  |  |
| CBRE Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, 04/01/31 (Call 01/01/31) | 130 | 109932 |
| &nbsp;&nbsp;&nbsp;4.88%, 03/01/26 (Call 12/01/25) | 150 | 149620 |
|  |  | 259552 |
| **Real Estate Investment Trusts — 4.1%** |  |  |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.45%, 09/15/26 (Call 08/15/26) | 60 | 53123 |
| &nbsp;&nbsp;&nbsp;3.38%, 05/15/24 (Call 04/15/24) | 50 | 48924 |
| &nbsp;&nbsp;&nbsp;3.65%, 03/15/27 (Call 02/15/27) | 20 | 19033 |
| &nbsp;&nbsp;&nbsp;4.00%, 06/01/25 (Call 03/01/25) | 146 | 142776 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.05%, 03/15/32 (Call 12/15/31)<sup>(b)</sup> | 50 | 46345 |
| Camden Property Trust, 2.80%, 05/15/30 (Call 02/15/30) | 20 | 17965 |
| Crown Castle Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.65%, 09/01/27 (Call 06/01/27) | 90 | 85861 |
| &nbsp;&nbsp;&nbsp;3.80%, 02/15/28 (Call 11/15/27) | 12 | 11454 |
| Crown Castle International Corp., 1.35%, 07/15/25 (Call 06/15/25) | 40 | 36800 |
| Equinix Inc., 2.63%, 11/18/24 (Call 10/18/24) | 85 | 81654 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.25%, 06/01/25 (Call 03/01/25) | 175 | 173682 |
| &nbsp;&nbsp;&nbsp;5.75%, 06/01/28 (Call 03/03/28) | 100 | 101872 |
| Invitation Homes Operating Partnership LP, 2.30%, 11/15/28 (Call 09/15/28) | 20 | 17066 |
| Iron Mountain Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 03/15/28 (Call 12/27/23)<sup>(a)(b)</sup> | 90 | 85565 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 07/15/32 (Call 07/15/26)<sup>(a)</sup> | 150 | 135375 |
| Mid-America Apartments LP, 1.10%, 09/15/26 (Call 08/15/26) | 110 | 97308 |
| National Health Investors Inc., 3.00%, 02/01/31 (Call 11/01/30) | 100 | 76350 |
| Public Storage |  |  |
| &nbsp;&nbsp;&nbsp;1.95%, 11/09/28 (Call 09/09/28) | 215 | 188811 |
| &nbsp;&nbsp;&nbsp;2.30%, 05/01/31 (Call 02/01/31) | 280 | 238924 |
| &nbsp;&nbsp;&nbsp;3.39%, 05/01/29 (Call 02/01/29) | 190 | 178934 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Real Estate Investment Trusts (continued)** |  |  |
| Realty Income Corp. |  |  |
| &nbsp;&nbsp;&nbsp;0.75%, 03/15/26 (Call 02/15/26) | $100 | $88433 |
| &nbsp;&nbsp;&nbsp;3.25%, 01/15/31 (Call 10/15/30) | 50 | 45188 |
| Sabra Health Care LP, 3.90%, 10/15/29 (Call 07/15/29) | 30 | 25623 |
| Simon Property Group LP, 3.50%, 09/01/25 (Call 06/01/25) | 130 | 126324 |
| Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, 6.50%, 02/15/29 (Call 02/15/24)<sup>(a)</sup> | 250 | 172900 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;4.38%, 05/15/25 | 100 | 97851 |
| &nbsp;&nbsp;&nbsp;5.13%, 05/15/32 (Call 02/15/32) | 100 | 96248 |
| VICI Properties LP/VICI Note Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 02/15/27 (Call 02/15/23)<sup>(a)</sup> | 20 | 18484 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/26 (Call 12/01/23)<sup>(a)</sup> | 50 | 47330 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 05/01/24 (Call 02/04/24)<sup>(a)</sup> | 50 | 49939 |
| Welltower Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.05%, 01/15/29 (Call 11/15/28) | 40 | 33638 |
| &nbsp;&nbsp;&nbsp;4.25%, 04/01/26 (Call 01/01/26) | 50 | 49056 |
| Weyerhaeuser Co., 4.00%, 04/15/30 (Call 01/15/30) | 90 | 84904 |
|  |  | 2773740 |
| **Retail — 2.6%** |  |  |
| 1011778 BC ULC/New Red Finance Inc., 4.00%, 10/15/30 (Call 10/15/25)<sup>(a)</sup> | 320 | 272291 |
| AutoZone Inc., 4.50%, 02/01/28 | 60 | 59839 |
| Bath & Body Works Inc., 6.63%, 10/01/30 (Call 10/01/25)<sup>(a)</sup> | 78 | 76219 |
| Costco Wholesale Corp., 1.60%, 04/20/30 (Call 01/20/30) | 30 | 25394 |
| FirstCash Inc., 5.63%, 01/01/30 (Call 01/01/25)<sup>(a)</sup> | 150 | 137701 |
| Genuine Parts Co., 1.75%, 02/01/25 (Call 02/01/23)<sup>(b)</sup> | 315 | 296220 |
| Home Depot Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;2.70%, 04/15/25 (Call 03/15/25) | 90 | 86791 |
| &nbsp;&nbsp;&nbsp;3.25%, 04/15/32 (Call 01/15/32) | 50 | 45987 |
| Lowe's Companies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.63%, 04/01/31 (Call 01/01/31) | 80 | 68782 |
| &nbsp;&nbsp;&nbsp;3.13%, 09/15/24 (Call 06/15/24) | 150 | 146073 |
| &nbsp;&nbsp;&nbsp;3.35%, 04/01/27 (Call 03/01/27) | 30 | 28730 |
| McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.45%, 09/01/25 (Call 08/01/25) | 200 | 185400 |
| &nbsp;&nbsp;&nbsp;4.60%, 09/09/32 (Call 06/09/32) | 105 | 106067 |
| Murphy Oil USA Inc., 4.75%, 09/15/29 (Call 09/15/24) | 100 | 91637 |
| Yum! Brands Inc., 4.75%, 01/15/30 (Call 10/15/29)<sup>(a)</sup> | 150 | 140610 |
|  |  | 1767741 |
| **Semiconductors — 2.1%** |  |  |
| Advanced Micro Devices Inc., 3.92%, 06/01/32 (Call 03/01/32)<sup>(b)</sup> | 100 | 95649 |
| Analog Devices Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.70%, 10/01/28 (Call 08/01/28) | 40 | 34799 |
| &nbsp;&nbsp;&nbsp;2.10%, 10/01/31 (Call 07/01/31) | 100 | 84174 |
| Broadcom Corp./Broadcom Cayman Finance Ltd., 3.13%, 01/15/25 (Call 11/15/24) | 200 | 193258 |
| Broadcom Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.15%, 11/15/25 (Call 10/15/25) | 350 | 334929 |
| &nbsp;&nbsp;&nbsp;3.46%, 09/15/26 (Call 07/15/26) | 110 | 105149 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 04/15/29 (Call 02/15/29)<sup>(a)</sup> | 195 | 182532 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 04/15/32 (Call 01/15/32)<sup>(a)</sup> | 60 | 54799 |
| Intel Corp., 3.70%, 07/29/25 (Call 04/29/25) | 200 | 195836 |
| Texas Instruments Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.90%, 09/15/31 (Call 06/15/31) | 56 | 46870 |
| &nbsp;&nbsp;&nbsp;3.65%, 08/16/32 (Call 05/16/32) | 100 | 96027 |
|  |  | 1424022 |
| **Software — 1.5%** |  |  |
| Electronic Arts Inc., 1.85%, 02/15/31 (Call 11/15/30) | 100 | 81674 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Software (continued)** |  |  |
| Microsoft Corp., 2.40%, 08/08/26 (Call 05/08/26) | $300 | $283026 |
| Minerva Merger Sub Inc., 6.50%, 02/15/30 (Call 02/15/25)<sup>(a)(b)</sup> | 78 | 64370 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;1.65%, 03/25/26 (Call 02/25/26) | 130 | 118572 |
| &nbsp;&nbsp;&nbsp;2.88%, 03/25/31 (Call 12/25/30) | 115 | 99208 |
| &nbsp;&nbsp;&nbsp;3.40%, 07/08/24 (Call 04/08/24) | 150 | 146953 |
| Picard Midco Inc., 6.50%, 03/31/29 (Call 09/30/25)<sup>(a)(b)</sup> | 136 | 119332 |
| Roper Technologies Inc., 3.85%, 12/15/25 (Call 09/15/25) | 35 | 34260 |
| VMware Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.00%, 08/15/24 (Call 03/03/23) | 50 | 46943 |
| &nbsp;&nbsp;&nbsp;4.50%, 05/15/25 (Call 04/15/25) | 30 | 29735 |
|  |  | 1024073 |
| **Telecommunications — 4.6%** |  |  |
| AT&T Inc. |  |  |
| &nbsp;&nbsp;&nbsp;0.90%, 03/25/24 (Call 02/13/23) | 200 | 191230 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.30%, 06/01/27 (Call 04/01/27)<sup>(b)</sup> | 210 | 191793 |
| &nbsp;&nbsp;&nbsp;4.30%, 02/15/30 (Call 11/15/29) | 60 | 58529 |
| Consolidated Communications Inc., 6.50%, 10/01/28 (Call 10/01/23)<sup>(a)</sup> | 100 | 81626 |
| Embarq Corp., 8.00%, 06/01/36 | 50 | 24095 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 01/15/30 (Call 10/15/24)<sup>(a)</sup> | 100 | 82062 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 05/15/30 (Call 05/15/25)<sup>(a)</sup> | 100 | 103591 |
| Hughes Satellite Systems Corp., 6.63%, 08/01/26<sup>(b)</sup> | 50 | 48341 |
| Intelsat Jackson Holdings SA, 6.50%, 03/15/30 (Call 03/15/25)<sup>(a)(b)</sup> | 90 | 81673 |
| Level 3 Financing Inc., 4.63%, 09/15/27 (Call 09/15/23)<sup>(a)</sup> | 90 | 76334 |
| Lumen Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 01/15/29 (Call 01/15/24)<sup>(a)</sup> | 58 | 38974 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 06/15/29 (Call 06/15/24)<sup>(a)(b)</sup> | 100 | 69675 |
| Motorola Solutions Inc. |  |  |
| &nbsp;&nbsp;&nbsp;2.75%, 05/24/31 (Call 02/24/31) | 140 | 116151 |
| &nbsp;&nbsp;&nbsp;5.60%, 06/01/32 (Call 03/01/32) | 160 | 162648 |
| Rogers Communications Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.95%, 03/15/25 (Call 03/15/23)<sup>(a)</sup> | 100 | 96164 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.20%, 03/15/27 (Call 02/15/27)<sup>(a)(b)</sup> | 55 | 51756 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.80%, 03/15/32 (Call 12/15/31)<sup>(a)</sup> | 50 | 44997 |
| Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/15/28<sup>(b)</sup> | 150 | 160795 |
| &nbsp;&nbsp;&nbsp;8.75%, 03/15/32 | 80 | 98774 |
| T-Mobile USA Inc. |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, 02/15/26 (Call 01/15/26) | 100 | 91246 |
| &nbsp;&nbsp;&nbsp;2.88%, 02/15/31 (Call 02/15/26) | 292 | 249908 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/15/25 (Call 03/15/25) | 100 | 97123 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/15/31 (Call 04/15/26) | 88 | 78899 |
| &nbsp;&nbsp;&nbsp;5.20%, 01/15/33 (Call 10/15/32) | 125 | 127460 |
| Verizon Communications Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1.75%, 01/20/31 (Call 10/20/30)<sup>(b)</sup> | 100 | 80513 |
| &nbsp;&nbsp;&nbsp;3.00%, 03/22/27 (Call 01/22/27) | 55 | 51929 |
| &nbsp;&nbsp;&nbsp;3.38%, 02/15/25 | 300 | 292167 |
| ViaSat Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 09/15/25 (Call 02/13/23)<sup>(a)</sup> | 100 | 94013 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 04/15/27 (Call 04/15/23)<sup>(a)</sup> | 100 | 93334 |
| Vmed O2 UK Financing I PLC, 4.75%, 07/15/31 (Call 07/15/26)<sup>(a)</sup> | 100 | 85250 |
|  |  | 3121050 |
| **Toys, Games & Hobbies — 0.1%** |  |  |
| Hasbro Inc., 3.00%, 11/19/24 (Call 10/19/24) | 50 | 48329 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Transportation — 0.4%** |  |  |
| Canadian National Railway Co., 3.85%, 08/05/32 |  |  |
| &nbsp;&nbsp;&nbsp;(Call 05/05/32) | $100 | $96652 |
| Union Pacific Corp., 3.75%, 07/15/25 (Call 05/15/25) | 100 | 98362 |
| United Parcel Service Inc., 4.45%, 04/01/30 (Call 01/01/30) | 10 | 10113 |
| Walmart Inc., 1.50%, 09/22/28 (Call 07/22/28) | 75 | 65927 |
|  |  | 271054 |
| **Water — 0.0%** |  |  |
| American Water Capital Corp., 4.45%, 06/01/32 (Call 03/01/32) | 25 | 24913 |
| Essential Utilities Inc., 2.40%, 05/01/31 (Call 02/01/31) | 5 | 4160 |
|  |  | 29073 |
| **Total Corporate Bonds & Notes — 94.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $66,423,921)** | . | 64779136 |
| **U.S. Government Agency Obligations** |  |  |
| **Mortgage-Backed Securities — 28.7%** |  |  |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, 07/01/46 | 18 | 16365 |
| &nbsp;&nbsp;&nbsp;3.00%, 10/01/46 | 31 | 29359 |
| &nbsp;&nbsp;&nbsp;3.00%, 12/01/46 | 295 | 275039 |
| &nbsp;&nbsp;&nbsp;3.00%, 01/01/47 | 61 | 56501 |
| &nbsp;&nbsp;&nbsp;3.00%, 10/01/47 | 46 | 42332 |
| &nbsp;&nbsp;&nbsp;3.50%, 07/01/43 | 10 | 9246 |
| &nbsp;&nbsp;&nbsp;3.50%, 09/01/44 | 8 | 7398 |
| &nbsp;&nbsp;&nbsp;3.50%, 01/01/46 | 7 | 6982 |
| &nbsp;&nbsp;&nbsp;3.50%, 03/01/46 | 6 | 5846 |
| &nbsp;&nbsp;&nbsp;3.50%, 09/01/46 | 5 | 4800 |
| &nbsp;&nbsp;&nbsp;3.50%, 08/01/47 | 4 | 4172 |
| &nbsp;&nbsp;&nbsp;4.00%, 04/01/46 | 75 | 74303 |
| &nbsp;&nbsp;&nbsp;4.00%, 06/01/48 | 29 | 29293 |
| &nbsp;&nbsp;&nbsp;4.00%, 01/01/49 | 0 | 80 |
| &nbsp;&nbsp;&nbsp;4.50%, 07/01/48 | 6 | 6296 |
| &nbsp;&nbsp;&nbsp;5.00%, 07/01/48 | 6 | 5822 |
| &nbsp;&nbsp;&nbsp;5.00%, 04/01/49 | 4 | 3991 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.50%, 02/16/38 | 872 | 814256 |
| &nbsp;&nbsp;&nbsp;3.00%, 02/16/38 | 480 | 460392 |
| &nbsp;&nbsp;&nbsp;3.50%, 02/16/38 | 267 | 260340 |
| &nbsp;&nbsp;&nbsp;4.00%, 01/01/57 | 54 | 53345 |
| &nbsp;&nbsp;&nbsp;4.00%, 02/01/57 | 55 | 54603 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 02/21/53 | 50 | 43205 |
| &nbsp;&nbsp;&nbsp;2.50%, 12/20/46 | 89 | 80505 |
| &nbsp;&nbsp;&nbsp;2.50%, 08/20/50 | 187 | 167966 |
| &nbsp;&nbsp;&nbsp;2.50%, 09/20/50 | 185 | 166537 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/21/53<sup>(d)</sup> | 800 | 713023 |
| &nbsp;&nbsp;&nbsp;3.00%, 05/20/45 | 117 | 109125 |
| &nbsp;&nbsp;&nbsp;3.00%, 12/20/45 | 10 | 9536 |
| &nbsp;&nbsp;&nbsp;3.00%, 01/20/46 | 5 | 5015 |
| &nbsp;&nbsp;&nbsp;3.00%, 04/20/46 | 65 | 60879 |
| &nbsp;&nbsp;&nbsp;3.00%, 09/20/46 | 62 | 57695 |
| &nbsp;&nbsp;&nbsp;3.00%, 01/20/50 | 134 | 124426 |
| &nbsp;&nbsp;&nbsp;3.00%, 02/20/50 | 72 | 66991 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/21/53<sup>(d)</sup> | 675 | 620051 |
| &nbsp;&nbsp;&nbsp;3.50%, 10/20/42 | 82 | 79451 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/20/45 | 24 | 23638 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/20/46 | 38 | 36149 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/20/48 | 485 | 466551 |
| &nbsp;&nbsp;&nbsp;3.50%, 02/21/53 | 75 | 70909 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Mortgage-Backed Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 09/20/45 | $12 | $12009 |
| &nbsp;&nbsp;&nbsp;4.00%, 09/20/46 | 4 | 4208 |
| &nbsp;&nbsp;&nbsp;4.00%, 06/20/47 | 125 | 123034 |
| &nbsp;&nbsp;&nbsp;4.00%, 11/20/47 | 34 | 33626 |
| &nbsp;&nbsp;&nbsp;4.00%, 05/15/48 | 27 | 27302 |
| &nbsp;&nbsp;&nbsp;4.00%, 02/21/53 | 327 | 318027 |
| &nbsp;&nbsp;&nbsp;4.50%, 10/20/46 | 6 | 5564 |
| &nbsp;&nbsp;&nbsp;4.50%, 02/21/53 | 200 | 199187 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 02/21/53<sup>(d)</sup> | 160 | 161088 |
| Uniform Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;1.50%, 02/16/38 | 452 | 400402 |
| &nbsp;&nbsp;&nbsp;2.00%, 12/01/35 | 76 | 69087 |
| &nbsp;&nbsp;&nbsp;2.00%, 02/16/38 | 733 | 666255 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.00%, 02/13/53<sup>(d)</sup> | 5557 | 4670761 |
| &nbsp;&nbsp;&nbsp;&nbsp;2.50%, 02/13/53<sup>(d)</sup> | 3587 | 3140411 |
| &nbsp;&nbsp;&nbsp;3.00%, 07/01/46 | 140 | 130415 |
| &nbsp;&nbsp;&nbsp;3.00%, 10/01/46 | 306 | 284008 |
| &nbsp;&nbsp;&nbsp;3.00%, 12/01/47 | 77 | 71730 |
| &nbsp;&nbsp;&nbsp;3.00%, 11/01/48 | 119 | 110574 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.00%, 02/25/52<sup>(d)</sup> | 50 | 45414 |
| &nbsp;&nbsp;&nbsp;3.50%, 03/01/33 | 48 | 47282 |
| &nbsp;&nbsp;&nbsp;3.50%, 11/01/48 | 23 | 21844 |
| &nbsp;&nbsp;&nbsp;3.50%, 04/01/49 | 22 | 20870 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 02/13/53<sup>(d)</sup> | 1675 | 1570735 |
| &nbsp;&nbsp;&nbsp;4.00%, 06/01/33 | 23 | 22390 |
| &nbsp;&nbsp;&nbsp;4.00%, 07/01/33 | 9 | 9166 |
| &nbsp;&nbsp;&nbsp;4.00%, 12/01/33 | 33 | 32338 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/16/38<sup>(d)</sup> | 80 | 79444 |
| &nbsp;&nbsp;&nbsp;4.00%, 02/01/46 | 14 | 13555 |
| &nbsp;&nbsp;&nbsp;4.00%, 03/01/46 | 5 | 5250 |
| &nbsp;&nbsp;&nbsp;4.00%, 06/01/47 | 5 | 5313 |
| &nbsp;&nbsp;&nbsp;4.00%, 11/01/47 | 7 | 6600 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 02/13/53<sup>(d)</sup> | 678 | 654694 |
| &nbsp;&nbsp;&nbsp;4.50%, 10/01/47 | 5 | 4907 |
| &nbsp;&nbsp;&nbsp;4.50%, 07/01/48 | 2 | 2218 |
| &nbsp;&nbsp;&nbsp;4.50%, 12/01/48 | 16 | 15963 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 02/13/53<sup>(d)</sup> | 708 | 699150 |
| &nbsp;&nbsp;&nbsp;5.00%, 09/01/48 | 9 | 8710 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par/<br> Shares <br> (000)* | *Value* |
| **Mortgage-Backed Securities (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 04/01/49 | $12 | $12043 |
| &nbsp;&nbsp;&nbsp;5.00%, 08/01/52 | 220 | 224024 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/13/53<sup>(d)</sup> | 525 | 533490 |
| &nbsp;&nbsp;&nbsp;6.00%, 02/01/49 | 58 | 61952 |
|  |  | 19647453 |
| **Total U.S. Government Agency Obligations — 28.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $19,776,681)** |  | 19647453 |
| **Total Long-Term Investments — 123.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $86,200,602)** |  | 84426589 |
| **Short-Term Securities** |  |  |
| **Money Market Funds — 9.8%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.56%<sup>(e)(f)(g)</sup> | 6621 | 6624846 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%<sup>(e)(f)</sup> | 100 | 100000 |
| **Total Short-Term Securities — 9.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $6,720,531)** |  | 6724846 |
| **Total Investments in Securities — 133.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $92,921,133)** |  | 91151435 |
| **Liabilities in Excess of Other Assets — (33.1)%** |  | (22669476) |
| **Net Assets — 100.0%** |  | $68481959 |

---

<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> Represents or includes a TBA transaction.

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

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

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

**Affiliates**

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at*<br> *10/31/22* | *Purchases*<br> *at Cost* | *Proceeds*<br> *from Sale* | *Net Realized*<br> *Gain (Loss)* | *Change in*<br> *Unrealized*<br> *Appreciation*<br> *(Depreciation)* | *Value at*<br> *01/31/23* | *Shares*<br> *Held at*<br> *01/31/23*<br> *(000)* | *Income* | *Capital Gain*<br> *Distributions from*<br> *Underlying Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares | $7330251 | $— | $(709780)<sup>(a)</sup> | $287 | $4088 | $6624846 | 6621 | $10891 <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 100000 | 0 <sup>(a)</sup> |  |  |  | 100000 | 100 | 983 |  |
|  |  |  |  | $287 | $4088 | $6724846 |  | $11874 | $— |

---

<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.

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 |  |

---

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

**Futures Contracts**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of <br> Contracts* | *Expiration <br> Date* | *Notional <br> Amount <br> (000)* | *Value<br> /Unrealized <br> Appreciation <br> (Depreciation)* |
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2-Year U.S. Treasury Note | 8 | 03/31/23 | $1646 | $(941) |
| &nbsp;&nbsp;&nbsp;U.S. 5 Year Treasury Note | 26 | 03/31/23 | 2846 | 39772 |
|  |  |  |  | 38831 |
| Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. 10 Year Treasury Note | (4) | 03/22/23 | 459 | (1619) |
| &nbsp;&nbsp;&nbsp;U.S. 10 Year Ultra Bond | (16) | 03/22/23 | 1947 | (42891) |
| &nbsp;&nbsp;&nbsp;U.S. Long Bond | (17) | 03/22/23 | 2220 | (67864) |
| &nbsp;&nbsp;&nbsp;U.S. Ultra Bond | (29) | 03/22/23 | 4149 | (213328) |
|  |  |  |  | (325702) |
|  |  |  |  | $(286871) |

---

**Fair Value Hierarchy as of Period End**

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

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

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

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | $— | $64779136 | $— | $64779136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Obligations |  | 19647453 |  | 19647453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 6724846 |  |  | 6724846 |
|  | $6724846 | $84426589 | $— | $91151435 |
| Derivative Financial Instruments<sup>(a)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Contracts | $39772 | $— | $— | $39772 |
| &nbsp;&nbsp;&nbsp;Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Contracts | (326643) |  |  | (326643) |
|  | $(286871) | $— | $— | (286871) |

---

<sup>(a)</sup> Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> U.S. Fixed Income Balanced Risk Factor ETF** |
| January 31, 2023 |  |

---

**Portfolio Abbreviation**

LIBOR London Interbank Offered Rate <br> SOFR Secured Overnight Financing Rate

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** iShares U.S. Fixed Income Balanced Risk Factor ETF

- **b. EDGAR series identifier (if any):** S000060088

- **c. LEI of Series:** 549300SHI6TGK0Y81802

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $94133384.47

**Total Liabilities:** $25646104.55

**Net Assets:** $68487279.92

**Delayed Delivery Securities:** $40000.00

**Cash Not Reported:** $485840.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 47.10000000 | **1-Year:** 3121.14000000 | **5-Year:** 17730.79000000 | **10-Year:** 13887.98000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 71.66000000 | **5-Year:** 4268.98000000 | **10-Year:** 392.27000000 | **30-Year:** 40.49000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000196720 | 3.18%                | -0.34%               | 2.70%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-868169.98              | $3033800.78                                |
| Month 2  | $606503.75               | $-1197926.13                               |
| Month 3  | $-125141.54              | $2068297.51                                |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED AIRLINES INC                            | United Airlines Inc                                                   | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71244.00     | 0.10%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132QWPU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |      6113 | PA      | $5845.59      | 0.01%             | 2046-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                            | Southern California Edison Co                                         | CUSIP: 842400HM8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25964.40     | 0.04%             | 2032-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                        | GCI LLC                                                               | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87858.00     | 0.13%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     70000 | PA      | $64340.50     | 0.09%             | 2031-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 31335AYT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |     31305 | PA      | $29359.03     | 0.04%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                             | Meta Platforms Inc                                                    | CUSIP: 30303M8H8<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23280.25     | 0.03%             | 2032-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Sempra Energy                                  | Sempra Energy                                                         | CUSIP: 816851BG3<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47421.00     | 0.07%             | 2028-02-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                         | CUSIP: 172967MX6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85217.40     | 0.12%             | 2025-05-01      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PDC7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116490.00    | 0.17%             | 2033-04-26      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                           | Neptune Bidco US Inc                                                  | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |     63000 | PA      | $61309.71     | 0.09%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| Aflac Inc                                      | Aflac Inc                                                             | CUSIP: 001055BJ0<br>LEI: 549300N0B7DOGLXWPP39 | Long             | DBT              | CORP              | US        |    102000 | PA      | $96811.26     | 0.14%             | 2030-04-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP                               | Public Service Co of New Hampshire                                    | CUSIP: 744538AE9<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16979.40     | 0.02%             | 2031-06-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| CHESAPEAKE ENERGY CORP                         | Chesapeake Energy Corp                                                | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138111.40    | 0.20%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE                                 | Public Storage                                                        | CUSIP: 74460DAH2<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    215000 | PA      | $188810.85    | 0.28%             | 2028-11-09      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                        | Blackstone Secured Lending Fund                                       | CUSIP: 09261XAG7<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |     19000 | PA      | $15547.70     | 0.02%             | 2028-09-30      | Fixed         | 2.85%                 | 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        |     75000 | PA      | $76604.25     | 0.11%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| CARRIER GLOBAL CORP                            | Carrier Global Corp                                                   | CUSIP: 14448CAN4<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |     57000 | PA      | $54118.65     | 0.08%             | 2025-02-15      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3138WJCX4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    305654 | PA      | $284007.82    | 0.41%             | 2046-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132WEWJ7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     17595 | PA      | $16365.36     | 0.02%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                       | Santander UK Group Holdings PLC                                       | CUSIP: 80281LAN5<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    330000 | PA      | $312750.90    | 0.46%             | 2025-03-15      | Fixed         | 1.09%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                                | Barings BDC Inc                                                       | CUSIP: 06759LAC7<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26520.60     | 0.04%             | 2026-11-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                        | Essential Utilities Inc                                               | CUSIP: 29670GAF9<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4160.20      | 0.01%             | 2031-05-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                                        | CUSIP: 61761J3R8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     85000 | PA      | $80589.35     | 0.12%             | 2026-07-27      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                        | American Electric Power Co Inc                                        | CUSIP: 025537AK7<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48327.50     | 0.07%             | 2024-03-15      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| Southern Power Co                              | Southern Power Co                                                     | CUSIP: 843646AM2<br>LEI: 5LADC78JBG2BMZD5XF57 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74292.75     | 0.11%             | 2025-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AIR LEASE CORP                                 | Air Lease Corp                                                        | CUSIP: 00914AAH5<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100212.00    | 0.15%             | 2025-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Embarq Corp                                    | Embarq Corp                                                           | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $24095.00     | 0.04%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F040628<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    678000 | PA      | $654693.75    | 0.96%             | 2053-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                               | Altria Group Inc                                                      | CUSIP: 02209SBC6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154335.05    | 0.23%             | 2026-02-14      | Fixed         | 4.40%                 | No            |                  2 | On Loan: —       |
| Bank of America Corp                           | Bank of America Corp                                                  | CUSIP: 06051GHT9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    150000 | PA      | $143638.50    | 0.21%             | 2027-04-23      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                             | Banco Santander SA                                                    | CUSIP: 05964HAN5<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $175214.00    | 0.26%             | 2027-09-14      | Fixed         | 1.72%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                           | Lockheed Martin Corp                                                  | CUSIP: 539830BW8<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    110000 | PA      | $117410.70    | 0.17%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                       | Toyota Motor Credit Corp                                              | CUSIP: 89236TJV8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    330000 | PA      | $300636.60    | 0.44%             | 2027-01-13      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PAH9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     62000 | PA      | $60663.28     | 0.09%             | 2025-03-01      | Fixed         | 3.22%                 | No            |                  2 | On Loan: No      |
| Union Electric Co                              | Union Electric Co                                                     | CUSIP: 906548CM2<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38043.60     | 0.06%             | 2027-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                      | Jabil Inc                                                             | CUSIP: 466313AL7<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67754.25     | 0.10%             | 2026-04-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                    | CUSIP: 29278NAQ6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91762.00     | 0.13%             | 2030-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U2V4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    205000 | PA      | $194868.90    | 0.28%             | 2028-03-24      | Fixed         | 3.53%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                | McDonald's Corp                                                       | CUSIP: 58013MFS8<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106066.80    | 0.15%             | 2032-09-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP                          | Prospect Capital Corp                                                 | CUSIP: 74348TAW2<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40299.50     | 0.06%             | 2028-10-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                            | Southern California Edison Co                                         | CUSIP: 842400GS6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22364.50     | 0.03%             | 2029-08-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 31335BYT7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     45513 | PA      | $42331.90     | 0.06%             | 2047-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132VPK23<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3908 | PA      | $3990.88      | 0.01%             | 2049-04-01      | Fixed         | 5.00%                 | 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        |    250000 | PA      | $172900.00    | 0.25%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                           | Vermilion Energy Inc                                                  | CUSIP: 923725AD7<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $129091.20    | 0.19%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179VFP0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     72132 | PA      | $66990.56     | 0.10%             | 2050-02-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GLC1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     75000 | PA      | $79098.00     | 0.12%             | 2028-11-10      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| UniCredit SpA                                  | UniCredit SpA                                                         | CUSIP: 904678AQ2<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |    200000 | PA      | $194530.00    | 0.28%             | 2034-04-02      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                        | HCA Inc                                                               | CUSIP: 404119BQ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5005.45      | 0.01%             | 2025-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO                            | Emerson Electric Co                                                   | CUSIP: 291011BR4<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $83454.00     | 0.12%             | 2031-12-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                    | Apache Corp                                                           | CUSIP: 037411BF1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |    160000 | PA      | $146686.40    | 0.21%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    125000 | PA      | $106468.75    | 0.16%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN ELEC POWER                        | Southwestern Electric Power Co                                        | CUSIP: 845437BS0<br>LEI: R64UBJHEC74EB3HGQ410 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81931.50     | 0.12%             | 2026-03-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: —       |
| Public Storage                                 | Public Storage                                                        | CUSIP: 74460DAD1<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    190000 | PA      | $178934.40    | 0.26%             | 2029-05-01      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                      | CUSIP: 87264ABT1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    292000 | PA      | $249908.20    | 0.36%             | 2031-02-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                               | Progressive Corp/The                                                  | CUSIP: 743315AY9<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46725.50     | 0.07%             | 2027-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                            | CUSIP: 92343VFF6<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     55000 | PA      | $51929.35     | 0.08%             | 2027-03-22      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GENERAL DYNAMICS CORP                          | General Dynamics Corp                                                 | CUSIP: 369550BM9<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96465.00     | 0.14%             | 2030-04-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                               | StoneX Group Inc                                                      | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101063.00    | 0.15%             | 2025-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ENSTAR GROUP LTD                               | Enstar Group Ltd                                                      | CUSIP: 29359UAC3<br>LEI: 213800AMAL5QFXVUCN04 | Long             | DBT              | CORP              | BM        |    105000 | PA      | $81378.15     | 0.12%             | 2031-09-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                            | Nomura Holdings Inc                                                   | CUSIP: 65535HAR0<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $184080.00    | 0.27%             | 2025-07-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                        | John Deere Capital Corp                                               | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44479.00     | 0.06%             | 2030-01-09      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS                       | Air Products and Chemicals Inc                                        | CUSIP: 009158BB1<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92735.00     | 0.14%             | 2025-10-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PBH8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     96000 | PA      | $90279.36     | 0.13%             | 2026-03-13      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                         | CUSIP: 143658BL5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     91000 | PA      | $82824.56     | 0.12%             | 2026-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                   | Enbridge Inc                                                          | CUSIP: 29250NBG9<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    175000 | PA      | $169713.25    | 0.25%             | 2023-10-04      | Fixed         | 0.55%                 | No            |                  2 | On Loan: No      |
| Verisk Analytics Inc                           | Verisk Analytics Inc                                                  | CUSIP: 92345YAD8<br>LEI: 549300I1YSWNIRKBWP67 | Long             | DBT              | CORP              | US        |    208000 | PA      | $203665.28    | 0.30%             | 2025-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    145000 | PA      | $118769.50    | 0.17%             | 2032-07-21      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                          | Molina Healthcare Inc                                                 | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    150000 | PA      | $125820.00    | 0.18%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| HASBRO INC                                     | Hasbro Inc                                                            | CUSIP: 418056AX5<br>LEI: 549300NUB6D2R1ITYR45 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48329.00     | 0.07%             | 2024-11-19      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                            | Intesa Sanpaolo SpA                                                   | CUSIP: 46115HBS5<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |     50000 | PA      | $36258.00     | 0.05%             | 2042-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                      | CUSIP: 31334YPK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    140371 | PA      | $130415.11    | 0.19%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                       | Willis North America Inc                                              | CUSIP: 970648AL5<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49497.00     | 0.07%             | 2027-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                   | NiSource Inc                                                          | CUSIP: 65473PAK1<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |    140000 | PA      | $127709.40    | 0.19%             | 2025-08-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38143U8H7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    194000 | PA      | $189497.26    | 0.28%             | 2026-02-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                      | CUSIP: 3132A5HX6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     77268 | PA      | $71730.46     | 0.10%             | 2047-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H020626<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     50000 | PA      | $43205.08     | 0.06%             | 2053-02-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                         | PNC Financial Services Group Inc/The                                  | CUSIP: 693475BH7<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     95000 | PA      | $96188.45     | 0.14%             | 2025-10-28      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                       | EQT Corp                                                              | CUSIP: 26884LAH2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25283.25     | 0.04%             | 2025-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                                   | Fortinet Inc                                                          | CUSIP: 34959EAA7<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133530.00    | 0.19%             | 2026-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 31335BLL8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      7663 | PA      | $7397.58      | 0.01%             | 2044-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EQT Corp                                       | EQT Corp                                                              | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18966.60     | 0.03%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST GAS CORP                             | Southwest Gas Corp                                                    | CUSIP: 845011AE5<br>LEI: OQQR1IQTGBKH0UR88X59 | Long             | DBT              | CORP              | US        |     35000 | PA      | $32258.45     | 0.05%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORP                           | Lockheed Martin Corp                                                  | CUSIP: 539830BR9<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111683.40    | 0.16%             | 2032-06-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140X5MC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     32916 | PA      | $32337.83     | 0.05%             | 2033-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                       | CQP Holdco LP / BIP-V Chinook Holdco LLC                              | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91144.00     | 0.13%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                      | CUSIP: 87264ABZ7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91246.00     | 0.13%             | 2026-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95212.00     | 0.14%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                         | UnitedHealth Group Inc                                                | CUSIP: 91324PEQ1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    300000 | PA      | $314934.00    | 0.46%             | 2030-02-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                        | Oncor Electric Delivery Co LLC                                        | CUSIP: 68233JCF9<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48943.00     | 0.07%             | 2032-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                         | CenterPoint Energy Inc                                                | CUSIP: 15189TBB2<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17139.40     | 0.03%             | 2031-06-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    170000 | PA      | $152709.30    | 0.22%             | 2027-05-04      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL AND GAS INC                       | Northern Oil and Gas Inc                                              | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149484.00    | 0.22%             | 2028-03-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: —       |
| FLORIDA POWER & LIGHT CO                       | Florida Power & Light Co                                              | CUSIP: 341081GG6<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |     60000 | PA      | $51817.20     | 0.08%             | 2032-02-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                                 | Merck & Co Inc                                                        | CUSIP: 58933YAY1<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107985.60    | 0.16%             | 2026-02-24      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132QVDD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |      7296 | PA      | $6981.98      | 0.01%             | 2046-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                            | Southern California Edison Co                                         | CUSIP: 842400HB2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47844.50     | 0.07%             | 2024-04-01      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                 | CUSIP: 451102CC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $87154.00     | 0.13%             | 2029-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                             | VICI Properties LP                                                    | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    100000 | PA      | $96248.00     | 0.14%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179RD63<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    116737 | PA      | $109124.99    | 0.16%             | 2045-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                                  | McKesson Corp                                                         | CUSIP: 581557BQ7<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |     55000 | PA      | $49496.15     | 0.07%             | 2025-12-03      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd                                | Sands China Ltd                                                       | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     50000 | PA      | $49213.00     | 0.07%             | 2028-08-08      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                   | CUSIP: 302635AD9<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2024-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Cardinal Health Inc                            | Cardinal Health Inc                                                   | CUSIP: 14149YBJ6<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95325.00     | 0.14%             | 2027-06-15      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H032621<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     75000 | PA      | $70908.58     | 0.10%             | 2053-02-21      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                         | CUSIP: 143658BS0<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     43000 | PA      | $41437.38     | 0.06%             | 2030-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                       | Devon Energy Corp                                                     | CUSIP: 251799AA0<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    134000 | PA      | $158497.88    | 0.23%             | 2032-04-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                            | Jazz Securities DAC                                                   | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |    200000 | PA      | $182710.00    | 0.27%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BLOCK FINANCIAL LLC                            | Block Financial LLC                                                   | CUSIP: 093662AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    141000 | PA      | $123765.57    | 0.18%             | 2028-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                      | Amgen Inc                                                             | CUSIP: 031162DH0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24169.00     | 0.04%             | 2029-08-18      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| CABOT CORP                                     | Cabot Corp                                                            | CUSIP: 127055AM3<br>LEI: K05C0SER542GQ6VLRO68 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4874.20      | 0.01%             | 2032-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179SNX1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5447 | PA      | $5563.99      | 0.01%             | 2046-10-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                         | Mitsubishi UFJ Financial Group Inc                                    | CUSIP: 606822BZ6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    360000 | PA      | $317552.40    | 0.46%             | 2027-10-13      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140QAW97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     21729 | PA      | $20870.06     | 0.03%             | 2049-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                       | Sumitomo Mitsui Financial Group Inc                                   | CUSIP: 86562MCA6<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    500000 | PA      | $459130.00    | 0.67%             | 2025-07-08      | Fixed         | 1.47%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                      | PG&E Corp                                                             | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |    200000 | PA      | $184292.00    | 0.27%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                      | CUSIP: 05526DBW4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    140000 | PA      | $129318.00    | 0.19%             | 2032-03-16      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                         | CUSIP: 172967MY4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    120000 | PA      | $99997.20     | 0.15%             | 2032-05-01      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                          | Toronto-Dominion Bank/The                                             | CUSIP: 89115A2H4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100562.00    | 0.15%             | 2027-09-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                         | CUSIP: 172967MT5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    530000 | PA      | $512313.90    | 0.75%             | 2024-10-30      | Fixed         | 0.78%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                | Weyerhaeuser Co                                                       | CUSIP: 962166BY9<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |     90000 | PA      | $84904.20     | 0.12%             | 2030-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                | Gen Digital Inc                                                       | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |     77000 | PA      | $78078.77     | 0.11%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Chicago Board of Trade                         | US LONG BOND(CBT) MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -15 | NC      | $-67048.91    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP                                   | Comcast Corp                                                          | CUSIP: 20030NDA6<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44683.00     | 0.07%             | 2030-02-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                               | Crown Castle Inc                                                      | CUSIP: 22822VAK7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11453.52     | 0.02%             | 2028-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                         | CUSIP: 893647BH9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50382.50     | 0.07%             | 2027-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PBK1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     49000 | PA      | $46018.35     | 0.07%             | 2026-04-22      | Fixed         | 2.08%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                               | Progressive Corp/The                                                  | CUSIP: 743315AZ6<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |     80000 | PA      | $72267.20     | 0.11%             | 2032-03-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: —       |
| Sprint Capital Corp                            | Sprint Capital Corp                                                   | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |     80000 | PA      | $98774.40     | 0.14%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                            | NCL Corp Ltd                                                          | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $86497.00     | 0.13%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                      | Boeing Co/The                                                         | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91407.00     | 0.13%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                  | FirstCash Inc                                                         | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137701.50    | 0.20%             | 2030-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                               | Puget Energy Inc                                                      | CUSIP: 745310AM4<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8816.80      | 0.01%             | 2028-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                       | Sabine Pass Liquefaction LLC                                          | CUSIP: 785592AJ5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |    140000 | PA      | $140837.20    | 0.21%             | 2024-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                          | Republic Services Inc                                                 | CUSIP: 760759AS9<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |     75000 | PA      | $71578.50     | 0.10%             | 2027-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co                            | JPMorgan Chase & Co                                                   | CUSIP: 46625HRV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    151000 | PA      | $143825.99    | 0.21%             | 2026-10-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CIGNA CORP                                     | Cigna Corp                                                            | CUSIP: 125523CB4<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191466.00    | 0.28%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                | CVS Health Corp                                                       | CUSIP: 126650DM9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    142000 | PA      | $123101.22    | 0.18%             | 2027-08-21      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                         | NextEra Energy Capital Holdings Inc                                   | CUSIP: 65339KAT7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     84000 | PA      | $80636.64     | 0.12%             | 2027-05-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| iHeartCommunications Inc                       | iHeartCommunications Inc                                              | CUSIP: 45174HBD8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     48900 | PA      | $43838.36     | 0.06%             | 2027-05-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140X4GD2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     58246 | PA      | $61952.22     | 0.09%             | 2049-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                  | DISH DBS Corp                                                         | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $57411.90     | 0.08%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                       | Rogers Communications Inc                                             | CUSIP: 775109CA7<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $96164.00     | 0.14%             | 2025-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                   | Broadcom Inc                                                          | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    110000 | PA      | $105149.00    | 0.15%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                             | CUSIP: 26885BAN0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79868.00     | 0.12%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F012429<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    451813 | PA      | $400401.62    | 0.58%             | 2038-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORP                          | Costco Wholesale Corp                                                 | CUSIP: 22160KAP0<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25393.80     | 0.04%             | 2030-04-20      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                      | Apple Inc                                                             | CUSIP: 037833EP1<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140139.00    | 0.20%             | 2032-08-08      | Fixed         | 3.35%                 | No            |                  2 | On Loan: —       |
| CBRE Services Inc                              | CBRE Services Inc                                                     | CUSIP: 12505BAD2<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149620.50    | 0.22%             | 2026-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GXS8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    105000 | PA      | $96211.50     | 0.14%             | 2026-02-12      | Fixed         | 0.86%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                        | Bristol-Myers Squibb Co                                               | CUSIP: 110122DU9<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    200000 | PA      | $181286.00    | 0.26%             | 2032-03-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                        | Bristol-Myers Squibb Co                                               | CUSIP: 110122DN5<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90801.00     | 0.13%             | 2025-11-13      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| EIDP INC                                       | EIDP Inc                                                              | CUSIP: 263534CP2<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |    200000 | PA      | $173382.00    | 0.25%             | 2030-07-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 3617NWHS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    185069 | PA      | $166536.66    | 0.24%             | 2050-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 3622A2R87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5365 | PA      | $5014.99      | 0.01%             | 2046-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                                           | CUSIP: 68389XAU9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146953.50    | 0.21%             | 2024-07-08      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132Y1GL6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      6227 | PA      | $6296.29      | 0.01%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                       | Rogers Communications Inc                                             | CUSIP: 775109CB5<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |     55000 | PA      | $51755.55     | 0.08%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: —       |
| CLEAR CHANNEL OUTDOOR HO                       | Clear Channel Outdoor Holdings Inc                                    | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $68319.00     | 0.10%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| LOWE'S COS INC                                 | Lowe's Cos Inc                                                        | CUSIP: 548661DD6<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146073.00    | 0.21%             | 2024-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140J7RM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6725 | PA      | $6599.59      | 0.01%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| General Mills Inc                              | General Mills Inc                                                     | CUSIP: 370334CF9<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196970.00    | 0.29%             | 2025-04-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CME Group Inc                                  | CME Group Inc                                                         | CUSIP: 12572QAJ4<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39269.60     | 0.06%             | 2028-06-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO G & E                                | San Diego Gas & Electric Co                                           | CUSIP: 797440BU7<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46917.00     | 0.07%             | 2026-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR ULTRA FUT MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -16 | NC      | $-42890.69    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INC                              | Iron Mountain Inc                                                     | CUSIP: 46284VAL5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    150000 | PA      | $135375.00    | 0.20%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NVR INC                                        | NVR Inc                                                               | CUSIP: 62944TAF2<br>LEI: 529900RWXR4JI3JYTV70 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65569.50     | 0.10%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F052623<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    525000 | PA      | $533490.23    | 0.78%             | 2053-02-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                   | Barclays PLC                                                          | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200816.00    | 0.29%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                       | AT&T Inc                                                              | CUSIP: 00206RMJ8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    200000 | PA      | $191230.00    | 0.28%             | 2024-03-25      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| Lear Corp                                      | Lear Corp                                                             | CUSIP: 521865AY1<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | DBT              | CORP              | US        |     33000 | PA      | $31459.89     | 0.05%             | 2027-09-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                         | VICI Properties LP / VICI Note Co Inc                                 | CUSIP: 92564RAD7<br>LEI: N/A                  | Long             | DBT              |  | US        |     20000 | PA      | $18483.80     | 0.03%             | 2027-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc              | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    144000 | PA      | $130429.44    | 0.19%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179R7J2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     37451 | PA      | $36148.77     | 0.05%             | 2046-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                     | AbbVie Inc                                                            | CUSIP: 00287YBZ1<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    150000 | PA      | $144561.00    | 0.21%             | 2024-11-21      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F030629<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |     50000 | PA      | $45414.06     | 0.07%             | 2053-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                            | American Express Co                                                   | CUSIP: 025816CW7<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     38000 | PA      | $37133.22     | 0.05%             | 2029-05-03      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| PUBLIC STORAGE                                 | Public Storage                                                        | CUSIP: 74460WAE7<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              |  | US        |    280000 | PA      | $238924.00    | 0.35%             | 2031-05-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140QAXL9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11806 | PA      | $12043.03     | 0.02%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                           | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    100000 | PA      | $89456.00     | 0.13%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                        | GLP Capital LP / GLP Financing II Inc                                 | CUSIP: 361841AK5<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101872.00    | 0.15%             | 2028-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                        | Dell International LLC / EMC Corp                                     | CUSIP: 24703TAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $103670.70    | 0.15%             | 2024-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                         | Bunge Ltd Finance Corp                                                | CUSIP: 120568BC3<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |     45000 | PA      | $38564.10     | 0.06%             | 2031-05-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                   | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     60000 | PA      | $51865.80     | 0.08%             | 2027-01-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3128MJZF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     60747 | PA      | $56500.75     | 0.08%             | 2047-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                               | LPL Holdings Inc                                                      | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    125000 | PA      | $111863.75    | 0.16%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| IDEX CORP                                      | IDEX Corp                                                             | CUSIP: 45167RAG9<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    180000 | PA      | $160380.00    | 0.23%             | 2030-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169670.20    | 0.25%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                         | American Honda Finance Corp                                           | CUSIP: 02665WDL2<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    250000 | PA      | $230562.50    | 0.34%             | 2025-07-08      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Avnet Inc                                      | Avnet Inc                                                             | CUSIP: 053807AS2<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97904.00     | 0.14%             | 2026-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140EBXA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5347 | PA      | $5250.24      | 0.01%             | 2046-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                          | American Airlines Inc                                                 | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |     85000 | PA      | $94662.80     | 0.14%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 31418C2E3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8528 | PA      | $8710.17      | 0.01%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 10YR NOTE (CBT)MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -4 | NC      | $-1619.67     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                                      | ONEOK Inc                                                             | CUSIP: 682680BE2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    105000 | PA      | $111771.45    | 0.16%             | 2031-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                         | VICI Properties LP / VICI Note Co Inc                                 | CUSIP: 92564RAF2<br>LEI: N/A                  | Long             | DBT              |  | US        |     50000 | PA      | $49939.00     | 0.07%             | 2024-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45112.95     | 0.07%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                    | Southern Co/The                                                       | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     30000 | PA      | $31998.00     | 0.05%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                     | CUSIP: 404280DA4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $381276.00    | 0.56%             | 2026-03-10      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H030625<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    675000 | PA      | $620050.78    | 0.91%             | 2053-02-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| COCA-COLA FEMSA SAB CV                         | Coca-Cola Femsa SAB de CV                                             | CUSIP: 191241AH1<br>LEI: 5493008KEVFYPMGTXO33 | Long             | DBT              | CORP              | MX        |    200000 | PA      | $179068.00    | 0.26%             | 2030-01-22      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                       | National Rural Utilities Cooperative Finance Corp                     | CUSIP: 63743HEW8<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22330.00     | 0.03%             | 2026-06-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                       | International Business Machines Corp                                  | CUSIP: 459200KT7<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    270000 | PA      | $267740.10    | 0.39%             | 2027-07-27      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                   | NiSource Inc                                                          | CUSIP: 65473PAL9<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |     30000 | PA      | $23861.10     | 0.03%             | 2031-02-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                              | Union Electric Co                                                     | CUSIP: 906548CT7<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |     40000 | PA      | $32915.60     | 0.05%             | 2032-03-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                            | Churchill Downs Inc                                                   | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     76000 | PA      | $71099.52     | 0.10%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140EW6D2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8134 | PA      | $7987.39      | 0.01%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                | CVS Health Corp                                                       | CUSIP: 126650DQ0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40517.50     | 0.06%             | 2031-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                                | Chevron USA Inc                                                       | CUSIP: 166756AR7<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29613.90     | 0.04%             | 2028-01-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                               | CUSIP: 55336VBR0<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    140000 | PA      | $127440.60    | 0.19%             | 2026-03-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3128MJZB9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    282270 | PA      | $262540.00    | 0.38%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                           | CUSIP: 694308JT5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16959.20     | 0.02%             | 2031-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PCV6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     78000 | PA      | $74306.70     | 0.11%             | 2026-02-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                            | Sherwin-Williams Co/The                                               | CUSIP: 824348AV8<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53767.45     | 0.08%             | 2024-06-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                  | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $103591.00    | 0.15%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                       | American Water Capital Corp                                           | CUSIP: 03040WBA2<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24913.00     | 0.04%             | 2032-06-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F022428<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    872000 | PA      | $814255.73    | 1.19%             | 2038-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BAKER HUGHES LLC/CO-OBL                        | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc               | CUSIP: 05723KAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $54589.20     | 0.08%             | 2029-11-07      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                           | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    115000 | PA      | $99208.20     | 0.14%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                           | CUSIP: 694308JM0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37313.20     | 0.05%             | 2030-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                 | Transocean Inc                                                        | CUSIP: 893830BQ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     38000 | PA      | $39678.84     | 0.06%             | 2027-01-30      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                       | Rogers Communications Inc                                             | CUSIP: 775109CC3<br>LEI: 54930030NVF3Y2OL0A78 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $44997.00     | 0.07%             | 2032-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                 | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   4807619 | NS      | $4810504.07   | 7.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                               | Black Hills Corp                                                      | CUSIP: 092113AL3<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48550.00     | 0.07%             | 2026-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                      | ONEOK Inc                                                             | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157554.00    | 0.23%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RAILWAY                          | Canadian National Railway Co                                          | CUSIP: 136375DC3<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $96652.00     | 0.14%             | 2032-08-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                   | Entergy Corp                                                          | CUSIP: 29364GAP8<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     40000 | PA      | $33083.60     | 0.05%             | 2031-06-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                 | Home Depot Inc/The                                                    | CUSIP: 437076CP5<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45987.00     | 0.07%             | 2032-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                                | CUSIP: 156700BD7<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |     58000 | PA      | $38973.68     | 0.06%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                               | Deutsche Bank AG/New York NY                                          | CUSIP: 25160PAJ6<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $152014.50    | 0.22%             | 2026-07-14      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132JMLM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |      9578 | PA      | $9246.23      | 0.01%             | 2043-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| IDEX CORP                                      | IDEX Corp                                                             | CUSIP: 45167RAH7<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |    140000 | PA      | $119926.80    | 0.18%             | 2031-06-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                            | Sprint Capital Corp                                                   | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |    150000 | PA      | $160795.50    | 0.23%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| META PLATFORMS INC                             | Meta Platforms Inc                                                    | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86393.70     | 0.13%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     50000 | PA      | $42834.50     | 0.06%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                           | Sabra Health Care LP                                                  | CUSIP: 78572XAG6<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              |  | US        |     30000 | PA      | $25623.30     | 0.04%             | 2029-10-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                         | ConocoPhillips Co                                                     | CUSIP: 208251AE8<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |     34000 | PA      | $38520.30     | 0.06%             | 2029-04-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 31418CXX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22456 | PA      | $22390.25     | 0.03%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                           | BAT International Finance PLC                                         | CUSIP: 05530QAN0<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $361056.00    | 0.53%             | 2026-03-25      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                         | Williams Cos Inc/The                                                  | CUSIP: 969457BY5<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     30000 | PA      | $25414.20     | 0.04%             | 2031-03-15      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                   | VeriSign Inc                                                          | CUSIP: 92343EAM4<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |     35000 | PA      | $30105.60     | 0.04%             | 2031-06-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| PIONEER NATURAL RESOURCE                       | Pioneer Natural Resources Co                                          | CUSIP: 723787AT4<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45255.00     | 0.07%             | 2026-01-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179SSN8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     88825 | PA      | $80505.22     | 0.12%             | 2046-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                                        | CUSIP: 61746BDZ6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97696.00     | 0.14%             | 2026-01-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                             | Analog Devices Inc                                                    | CUSIP: 032654AV7<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |    100000 | PA      | $84174.00     | 0.12%             | 2031-10-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS INC                           | Kyndryl Holdings Inc                                                  | CUSIP: 50155QAK6<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |     10000 | PA      | $8082.10      | 0.01%             | 2028-10-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PDE3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57037.20     | 0.08%             | 2025-06-14      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                                 | S&P Global Inc                                                        | CUSIP: 78409VAM6<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    105000 | PA      | $100042.95    | 0.15%             | 2027-01-22      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| PUBLIC SERVICE ENTERPRIS                       | Public Service Enterprise Group Inc                                   | CUSIP: 744573AQ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |     20000 | PA      | $16052.80     | 0.02%             | 2030-08-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                    | Equinix Inc                                                           | CUSIP: 29444UBC9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     85000 | PA      | $81653.55     | 0.12%             | 2024-11-18      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                            | Consumers Energy Co                                                   | CUSIP: 210518DP8<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28170.00     | 0.04%             | 2032-08-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                   | Broadcom Inc                                                          | CUSIP: 11135FBR1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    195000 | PA      | $182531.70    | 0.27%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3128MJYU8<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |      5020 | PA      | $4800.38      | 0.01%             | 2046-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                       | Toyota Motor Credit Corp                                              | CUSIP: 89236TKC8<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9871.10      | 0.01%             | 2025-06-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                       | Targa Resources Partners LP / Targa Resources Partners Finance Corp   | CUSIP: 87612BBS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $112834.80    | 0.16%             | 2031-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Pool                                                      | CUSIP: 31329PZC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     15922 | PA      | $15962.76     | 0.02%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                           | Keurig Dr Pepper Inc                                                  | CUSIP: 49271VAP5<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    196000 | PA      | $188644.12    | 0.28%             | 2029-04-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U2L6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    160000 | PA      | $155784.00    | 0.23%             | 2031-04-04      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                       | International Business Machines Corp                                  | CUSIP: 459200KS9<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    395000 | PA      | $390082.25    | 0.57%             | 2025-07-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                    | PepsiCo Inc                                                           | CUSIP: 713448FL7<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    140000 | PA      | $136810.80    | 0.20%             | 2028-02-18      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                     | US Bancorp                                                            | CUSIP: 91159HHR4<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95562.00     | 0.14%             | 2027-04-27      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                   | Barclays PLC                                                          | CUSIP: 06738EBU8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $179136.00    | 0.26%             | 2027-11-24      | Fixed         | 2.28%                 | No            |                  2 | On Loan: No      |
| FORTINET INC                                   | Fortinet Inc                                                          | CUSIP: 34959EAB5<br>LEI: 549300O0QJWDBAS0QX03 | Long             | DBT              | CORP              | US        |     40000 | PA      | $32838.80     | 0.05%             | 2031-03-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                     | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    100000 | PA      | $97507.00     | 0.14%             | 2032-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H040624<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    131000 | PA      | $127172.34    | 0.19%             | 2053-02-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H022622<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    800000 | PA      | $713023.26    | 1.04%             | 2053-02-21      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AMEREN CORP                                    | Ameren Corp                                                           | CUSIP: 023608AH5<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96271.00     | 0.14%             | 2024-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                          | Bausch Health Cos Inc                                                 | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     63000 | PA      | $49324.59     | 0.07%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                           | Royal Bank of Canada                                                  | CUSIP: 78016EYV3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $91387.00     | 0.13%             | 2027-01-21      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                       | Intercontinental Exchange Inc                                         | CUSIP: 45866FAN4<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |     35000 | PA      | $27505.10     | 0.04%             | 2032-09-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                            | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $23180.25     | 0.03%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                       | Willis North America Inc                                              | CUSIP: 970648AJ0<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |     55000 | PA      | $48600.75     | 0.07%             | 2029-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| DISH DBS Corp                                  | DISH DBS Corp                                                         | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    139000 | PA      | $112760.97    | 0.16%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp                                                  | CUSIP: 06051GFL8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    120000 | PA      | $117768.00    | 0.17%             | 2026-10-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMPERIAL BANK                         | Canadian Imperial Bank of Commerce                                    | CUSIP: 13607GLZ5<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    170000 | PA      | $161685.30    | 0.24%             | 2025-01-28      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NFP CORP                                       | NFP Corp                                                              | CUSIP: 65342RAD2<br>LEI: VO2L9FZNXDJNQNEYH039 | Long             | DBT              | CORP              | US        |    112000 | PA      | $96979.68     | 0.14%             | 2028-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                            | United Airlines Inc                                                   | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    160000 | PA      | $145988.80    | 0.21%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                        | Exxon Mobil Corp                                                      | CUSIP: 30231GBH4<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97273.00     | 0.14%             | 2025-03-19      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJG5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    163000 | PA      | $152118.12    | 0.22%             | 2025-09-25      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                       | Marsh & McLennan Cos Inc                                              | CUSIP: 571748BP6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    690000 | PA      | $578599.50    | 0.84%             | 2031-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CONTINENTAL RESOURCES                          | Continental Resources Inc/OK                                          | CUSIP: 212015AN1<br>LEI: XXRTID9RYWOZ0UPIVR53 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49036.00     | 0.07%             | 2024-06-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                       | Targa Resources Partners LP / Targa Resources Partners Finance Corp   | CUSIP: 87612BBL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102253.00    | 0.15%             | 2027-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                         | Blackstone Private Credit Fund                                        | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21505.50     | 0.03%             | 2026-12-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                                        | CUSIP: 594918BR4<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    300000 | PA      | $283026.00    | 0.41%             | 2026-08-08      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                               | Carlisle Cos Inc                                                      | CUSIP: 142339AJ9<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |     34000 | PA      | $29379.40     | 0.04%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Coty Inc                                       | Coty Inc                                                              | CUSIP: 222070AB0<br>LEI: 549300BO9IWPF3S48F93 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83810.00     | 0.12%             | 2026-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                      | CUSIP: 87264ACV5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127460.00    | 0.19%             | 2033-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING                        | DCP Midstream Operating LP                                            | CUSIP: 23311VAK3<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |     60000 | PA      | $52040.40     | 0.08%             | 2032-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| FACTSET RESEARCH SYSTEMS                       | FactSet Research Systems Inc                                          | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |    225000 | PA      | $210249.00    | 0.31%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: —       |
| Citigroup Inc                                  | Citigroup Inc                                                         | CUSIP: 172967KJ9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99398.00     | 0.15%             | 2026-03-09      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GWQ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    115000 | PA      | $111474.10    | 0.16%             | 2025-09-29      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                       | Berkshire Hathaway Energy Co                                          | CUSIP: 084659AT8<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59277.60     | 0.09%             | 2025-04-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                       | CUSIP: 718172BM0<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194916.00    | 0.28%             | 2024-11-10      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS INC                            | Electronic Arts Inc                                                   | CUSIP: 285512AE9<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81674.00     | 0.12%             | 2031-02-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| AON CORP                                       | Aon Corp                                                              | CUSIP: 037389BE2<br>LEI: LTS3U8DGK38SETRUWX71 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44340.50     | 0.06%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| ANALOG DEVICES INC                             | Analog Devices Inc                                                    | CUSIP: 032654AU9<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | DBT              | CORP              | US        |     40000 | PA      | $34798.40     | 0.05%             | 2028-10-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                           | CUSIP: 694308JG3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     45000 | PA      | $36360.90     | 0.05%             | 2031-02-01      | Fixed         | 2.50%                 | 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        |     41000 | PA      | $40646.58     | 0.06%             | 2025-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OPTION CARE HEALTH INC                         | Option Care Health Inc                                                | CUSIP: 68404LAA0<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | DBT              | CORP              | US        |    155000 | PA      | $134443.90    | 0.20%             | 2029-10-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                            | Elevance Health Inc                                                   | CUSIP: 036752AR4<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |    110000 | PA      | $100284.80    | 0.15%             | 2026-03-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: —       |
| Iron Mountain Inc                              | Iron Mountain Inc                                                     | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     90000 | PA      | $85564.80     | 0.12%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 3622A2RT1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     10201 | PA      | $9536.27      | 0.01%             | 2045-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    260000 | PA      | $221657.80    | 0.32%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140J8EY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48009 | PA      | $47282.49     | 0.07%             | 2033-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179SLT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      4265 | PA      | $4207.89      | 0.01%             | 2046-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                               | Bank of Montreal                                                      | CUSIP: 06368D3S1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $117194.40    | 0.17%             | 2025-06-07      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PPG INDUSTRIES INC                             | PPG Industries Inc                                                    | CUSIP: 693506BU0<br>LEI: 549300BKPEP01R3V6C59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $90042.00     | 0.13%             | 2026-03-15      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F040420<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     80000 | PA      | $79443.75     | 0.12%             | 2038-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC | CUSIP: 013092AE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $184348.00    | 0.27%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| WELLTOWER OP LLC                               | Welltower OP LLC                                                      | CUSIP: 95040QAN4<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |     40000 | PA      | $33638.00     | 0.05%             | 2029-01-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                           | Westpac Banking Corp                                                  | CUSIP: 961214FA6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    195000 | PA      | $191252.10    | 0.28%             | 2025-08-26      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                               | CUSIP: 404119CF4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88614.00     | 0.13%             | 2032-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                          | Keysight Technologies Inc                                             | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65118.30     | 0.10%             | 2027-04-06      | Fixed         | 4.60%                 | 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        |     80000 | PA      | $77623.20     | 0.11%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                        | Global Partners LP / GLP Finance Corp                                 | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $70730.25     | 0.10%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MCDONALD'S CORP                                | McDonald's Corp                                                       | CUSIP: 58013MFL3<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185400.00    | 0.27%             | 2025-09-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                         | Westinghouse Air Brake Technologies Corp                              | CUSIP: 960386AQ3<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |     95000 | PA      | $89821.55     | 0.13%             | 2025-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                   | AutoZone Inc                                                          | CUSIP: 053332BC5<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59838.60     | 0.09%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                           | Royal Bank of Canada                                                  | CUSIP: 78016EZQ3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $67621.50     | 0.10%             | 2026-04-27      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                      | Amgen Inc                                                             | CUSIP: 031162DE7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |     55000 | PA      | $49816.25     | 0.07%             | 2032-02-22      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                 | S&P Global Inc                                                        | CUSIP: 78409VBA1<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |     65000 | PA      | $60417.50     | 0.09%             | 2027-03-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                       | Intercontinental Exchange Inc                                         | CUSIP: 45866FAD6<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98328.00     | 0.14%             | 2025-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                               | Welltower OP LLC                                                      | CUSIP: 95040QAC8<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49056.50     | 0.07%             | 2026-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Ovintiv Inc                                    | Ovintiv Inc                                                           | CUSIP: 698900AG2<br>LEI: CZ72ZHBVKZXQRV3XFE26 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10912.80     | 0.02%             | 2031-11-01      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                     | CUSIP: 404280DG1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $401936.00    | 0.59%             | 2028-08-11      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179TLT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34087 | PA      | $33625.95     | 0.05%             | 2047-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TransDigm Inc                                  | TransDigm Inc                                                         | CUSIP: 893647BB2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    115000 | PA      | $113565.95    | 0.17%             | 2026-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Mastercard Inc                                 | Mastercard Inc                                                        | CUSIP: 57636QAG9<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |     35000 | PA      | $33533.15     | 0.05%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179VDN7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    133935 | PA      | $124425.91    | 0.18%             | 2050-01-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140FXFM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53975 | PA      | $53345.43     | 0.08%             | 2057-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                   | CUSIP: 316773DD9<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     55000 | PA      | $49574.25     | 0.07%             | 2027-11-01      | Fixed         | 1.71%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                    | PepsiCo Inc                                                           | CUSIP: 713448FM5<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58625.40     | 0.09%             | 2032-07-18      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                      | CUSIP: 05526DBR5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     99000 | PA      | $85091.49     | 0.12%             | 2028-03-25      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                    | Southern Co/The                                                       | CUSIP: 842587DD6<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50729.50     | 0.07%             | 2027-08-01      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                               | Duke Energy Corp                                                      | CUSIP: 26441CBT1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9738.10      | 0.01%             | 2032-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140X8NS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75777 | PA      | $69087.02     | 0.10%             | 2035-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140Q7VR5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4893 | PA      | $4906.70      | 0.01%             | 2047-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Waste Connections Inc                          | Waste Connections Inc                                                 | CUSIP: 941053AJ9<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $37573.20     | 0.05%             | 2029-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                               | Altria Group Inc                                                      | CUSIP: 02209SBL6<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    220000 | PA      | $171281.00    | 0.25%             | 2032-02-04      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                              | Ares Capital Corp                                                     | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     95000 | PA      | $80208.50     | 0.12%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F032625<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1675000 | PA      | $1570735.39   | 2.29%             | 2053-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F032427<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    267000 | PA      | $260339.66    | 0.38%             | 2038-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                 | CUSIP: 527298BN2<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     90000 | PA      | $76333.50     | 0.11%             | 2027-09-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 31335ATG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |     74745 | PA      | $74302.71     | 0.11%             | 2046-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132WQAT2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      4364 | PA      | $4171.88      | 0.01%             | 2047-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                         | Mizuho Financial Group Inc                                            | CUSIP: 60687YBF5<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    280000 | PA      | $274593.20    | 0.40%             | 2024-07-10      | Fixed         | 1.24%                 | No            |                  2 | On Loan: No      |
| LOUISIANA-PACIFIC CORP                         | Louisiana-Pacific Corp                                                | CUSIP: 546347AM7<br>LEI: 549300C7E2UAO5BVRR75 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43459.00     | 0.06%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                               | Georgia Power Co                                                      | CUSIP: 373334KQ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9954.40      | 0.01%             | 2032-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Comcast Corp                                   | Comcast Corp                                                          | CUSIP: 20030NCS8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147975.00    | 0.22%             | 2025-10-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                           | Colgate-Palmolive Co                                                  | CUSIP: 194162AP8<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |     90000 | PA      | $84539.70     | 0.12%             | 2032-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                       | Duke Energy Progress LLC                                              | CUSIP: 26442UAN4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18337.00     | 0.03%             | 2032-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                            | Invitation Homes Operating Partnership LP                             | CUSIP: 46188BAB8<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |     20000 | PA      | $17065.60     | 0.02%             | 2028-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                          | Civitas Resources Inc                                                 | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93607.00     | 0.14%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                       | EQT Corp                                                              | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    110000 | PA      | $116993.80    | 0.17%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL HEALTH INVESTOR                       | National Health Investors Inc                                         | CUSIP: 63633DAF1<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | DBT              |  | US        |    100000 | PA      | $76350.00     | 0.11%             | 2031-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                               | Vmed O2 UK Financing I PLC                                            | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    100000 | PA      | $85250.00     | 0.12%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                   | Broadcom Inc                                                          | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54799.20     | 0.08%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                        | New Fortress Energy Inc                                               | CUSIP: 644393AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $184638.00    | 0.27%             | 2026-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust             | CUSIP: 00774MAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $144640.50    | 0.21%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| WISCONSIN POWER & LIGHT                        | Wisconsin Power and Light Co                                          | CUSIP: 976826BQ9<br>LEI: JWBYHVQVMY66CVCOSO49 | Long             | DBT              | CORP              | US        |     40000 | PA      | $38168.00     | 0.06%             | 2032-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| AECOM                                          | AECOM                                                                 | CUSIP: 00774CAB3<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98249.00     | 0.14%             | 2027-03-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                         | UnitedHealth Group Inc                                                | CUSIP: 91324PEH1<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98032.00     | 0.14%             | 2029-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hess Corp                                      | Hess Corp                                                             | CUSIP: 42809HAG2<br>LEI: UASVRYNXNK17ULIGK870 | Long             | DBT              | CORP              | US        |     55000 | PA      | $53890.65     | 0.08%             | 2027-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Chevron Corp                                   | Chevron Corp                                                          | CUSIP: 166764BL3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $96144.00     | 0.14%             | 2026-05-16      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                               | Crown Castle Inc                                                      | CUSIP: 22822VAS0<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |     40000 | PA      | $36800.40     | 0.05%             | 2025-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                                | CUSIP: 550241AA1<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |    100000 | PA      | $69675.00     | 0.10%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| NATIONAL FUEL GAS CO                           | National Fuel Gas Co                                                  | CUSIP: 636180BR1<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     15000 | PA      | $12174.00     | 0.02%             | 2031-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                       | AT&T Inc                                                              | CUSIP: 00206RJX1<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    210000 | PA      | $191793.00    | 0.28%             | 2027-06-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: —       |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F020422<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    733187 | PA      | $666255.05    | 0.97%             | 2038-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                               | Carlisle Cos Inc                                                      | CUSIP: 142339AL4<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |     10000 | PA      | $7987.40      | 0.01%             | 2032-03-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                 | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |     78000 | PA      | $76219.26     | 0.11%             | 2030-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 5YR NOTE (CBT) MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        38 | NC      | $56363.28     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                             | CUSIP: 26442CBJ2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20537.20     | 0.03%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                    | CUSIP: 29278NAM5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200878.00    | 0.29%             | 2024-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                      | Boeing Co/The                                                         | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    220000 | PA      | $203137.00    | 0.30%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSNG                       | Automatic Data Processing Inc                                         | CUSIP: 053015AG8<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | DBT              | CORP              | US        |     40000 | PA      | $35653.20     | 0.05%             | 2028-05-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Burlington Resources LLC                       | Burlington Resources LLC                                              | CUSIP: 12201PAN6<br>LEI: 0FJ5X7MVCTSE8OEPQE56 | Long             | DBT              | CORP              | US        |    300000 | PA      | $355536.00    | 0.52%             | 2031-12-01      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                           | Royal Bank of Canada                                                  | CUSIP: 78016EZX8<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |     50000 | PA      | $46864.00     | 0.07%             | 2024-10-07      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                       | Constellation Brands Inc                                              | CUSIP: 21036PBF4<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44220.00     | 0.06%             | 2030-05-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                         | Mitsubishi UFJ Financial Group Inc                                    | CUSIP: 606822BJ2<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $193986.00    | 0.28%             | 2024-07-18      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GKS7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49118.00     | 0.07%             | 2025-04-25      | Fixed         | 3.84%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                               | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    650000 | PA      | $554957.00    | 0.81%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                       | Caterpillar Financial Services Corp                                   | CUSIP: 14913R2H9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81644.40     | 0.12%             | 2025-11-13      | Fixed         | 0.80%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F020620<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5557329 | PA      | $4670761.36   | 6.82%             | 2053-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                              | Eversource Energy                                                     | CUSIP: 30040WAQ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65662.10     | 0.10%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| DELL INT LLC / EMC CORP                        | Dell International LLC / EMC Corp                                     | CUSIP: 24703TAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52770.00     | 0.08%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                            | Intesa Sanpaolo SpA                                                   | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    100000 | PA      | $79418.00     | 0.12%             | 2032-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                       | Hilton Domestic Operating Co Inc                                      | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94207.00     | 0.14%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                               | Ziggo Bond Co BV                                                      | CUSIP: 98953GAD7<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $82634.00     | 0.12%             | 2030-02-28      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                             | Realty Income Corp                                                    | CUSIP: 756109AZ7<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |    100000 | PA      | $88433.00     | 0.13%             | 2026-03-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                          | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     41000 | PA      | $40192.71     | 0.06%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd                                | Sands China Ltd                                                       | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     75000 | PA      | $74466.75     | 0.11%             | 2025-08-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                     | US Bancorp                                                            | CUSIP: 91159HJK7<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39993.20     | 0.06%             | 2029-02-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                           | CUSIP: 780153BL5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    104000 | PA      | $110396.00    | 0.16%             | 2027-08-15      | Fixed         | 11.63%                | No            |                  2 | On Loan: —       |
| RELIANCE STEEL & ALUM                          | Reliance Steel & Aluminum Co                                          | CUSIP: 759509AF9<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91641.00     | 0.13%             | 2025-08-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                      | Apple Inc                                                             | CUSIP: 037833DT4<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    500000 | PA      | $465800.00    | 0.68%             | 2025-05-11      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                       | Targa Resources Partners LP / Targa Resources Partners Finance Corp   | CUSIP: 87612BBN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    121000 | PA      | $124023.79    | 0.18%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REALTY INCOME CORP                             | Realty Income Corp                                                    | CUSIP: 756109AX2<br>LEI: 549300CUWDAUZSH43859 | Long             | DBT              |  | US        |     50000 | PA      | $45188.00     | 0.07%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                              | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    120000 | PA      | $113697.60    | 0.17%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: —       |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust             | CUSIP: 00774MAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $131950.50    | 0.19%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                       | American Airlines Inc/AAdvantage Loyalty IP Ltd                       | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    165000 | PA      | $159733.20    | 0.23%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                    | Exelon Corp                                                           | CUSIP: 30161NBE0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18060.20     | 0.03%             | 2032-03-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: —       |
| BANK OF NOVA SCOTIA                            | Bank of Nova Scotia/The                                               | CUSIP: 0641593U8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    295000 | PA      | $264169.55    | 0.39%             | 2026-03-02      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                     | Humana Inc                                                            | CUSIP: 444859BM3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99557.00     | 0.15%             | 2025-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp/The                                               | CUSIP: 808513BR5<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    195000 | PA      | $175242.60    | 0.26%             | 2026-05-13      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                 | Lowe's Cos Inc                                                        | CUSIP: 548661EA1<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     80000 | PA      | $68782.40     | 0.10%             | 2031-04-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115989.60    | 0.17%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 61747YEQ4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294561.00    | 0.43%             | 2025-04-17      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                              | Brown & Brown Inc                                                     | CUSIP: 115236AE1<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |     15000 | PA      | $13733.40     | 0.02%             | 2032-03-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: —       |
| VeriSign Inc                                   | VeriSign Inc                                                          | CUSIP: 92343EAH5<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200774.00    | 0.29%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                       | Virgin Media Finance PLC                                              | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $167964.00    | 0.25%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| ALBEMARLE CORP                                 | Albemarle Corp                                                        | CUSIP: 012653AE1<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64314.25     | 0.09%             | 2032-06-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CALIF GAS CO                          | Southern California Gas Co                                            | CUSIP: 842434CW0<br>LEI: XY0N0J73VHV5F4CUJV89 | Long             | DBT              | CORP              | US        |     70000 | PA      | $66248.00     | 0.10%             | 2027-04-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                       | CUSIP: 37185LAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     44000 | PA      | $43437.68     | 0.06%             | 2027-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                              | NatWest Group PLC                                                     | CUSIP: 780097BP5<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $184836.00    | 0.27%             | 2028-05-22      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| BUNGE LTD FINANCE CORP                         | Bunge Ltd Finance Corp                                                | CUSIP: 120568BB5<br>LEI: 549300QHC068L40NNM71 | Long             | DBT              | CORP              | US        |    138000 | PA      | $127238.76    | 0.19%             | 2025-08-17      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140J75K7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5384 | PA      | $5313.25      | 0.01%             | 2047-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                            | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93334.00     | 0.14%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                        | PPL Capital Funding Inc                                               | CUSIP: 69352PAQ6<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28869.60     | 0.04%             | 2030-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140EUU72<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5670 | PA      | $5567.81      | 0.01%             | 2046-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                       | Marsh & McLennan Cos Inc                                              | CUSIP: 571748BG6<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59415.00     | 0.09%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 3622A26S6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    484992 | PA      | $466550.67    | 0.68%             | 2048-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ELECTRIC POWER                       | Wisconsin Electric Power Co                                           | CUSIP: 976656CN6<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40782.00     | 0.06%             | 2032-09-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    225000 | PA      | $224961.75    | 0.33%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                               | Deutsche Bank AG/New York NY                                          | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $267810.00    | 0.39%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                     | CUSIP: 28368EAE6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     30000 | PA      | $34965.30     | 0.05%             | 2032-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MARATHON PETROLEUM CORP                        | Marathon Petroleum Corp                                               | CUSIP: 56585ABH4<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99881.00     | 0.15%             | 2025-05-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                     | AbbVie Inc                                                            | CUSIP: 00287YBX6<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |     60000 | PA      | $55731.00     | 0.08%             | 2029-11-21      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 6174468R3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    195000 | PA      | $180932.70    | 0.26%             | 2025-10-21      | Fixed         | 0.86%                 | No            |                  2 | On Loan: No      |
| CAMDEN PROPERTY TRUST                          | Camden Property Trust                                                 | CUSIP: 133131AZ5<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              |  | US        |     20000 | PA      | $17965.00     | 0.03%             | 2030-05-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                         | General Motors Financial Co Inc                                       | CUSIP: 37045XDM5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140239.50    | 0.20%             | 2024-10-15      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179TAL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    124720 | PA      | $123034.24    | 0.18%             | 2047-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                 | Home Depot Inc/The                                                    | CUSIP: 437076CM2<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86790.60     | 0.13%             | 2025-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                    | Walmart Inc                                                           | CUSIP: 931142ES8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65926.50     | 0.10%             | 2028-09-22      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3128MJ4T4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      5695 | PA      | $5822.27      | 0.01%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                        | GLP Capital LP / GLP Financing II Inc                                 | CUSIP: 361841AJ8<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |    175000 | PA      | $173682.25    | 0.25%             | 2025-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140X4DF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22873 | PA      | $21844.30     | 0.03%             | 2048-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp                            | American Tower Corp                                                   | CUSIP: 03027XAG5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    146000 | PA      | $142776.32    | 0.21%             | 2025-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION BRANDS INC                       | Constellation Brands Inc                                              | CUSIP: 21036PBK3<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49395.50     | 0.07%             | 2027-05-09      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 31418CYZ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      9193 | PA      | $9166.31      | 0.01%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                            | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94013.00     | 0.14%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC                         | Choice Hotels International Inc                                       | CUSIP: 169905AG1<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |     90000 | PA      | $79815.60     | 0.12%             | 2031-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                | Xcel Energy Inc                                                       | CUSIP: 98388MAB3<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     80000 | PA      | $72003.20     | 0.11%             | 2027-03-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                            | CUSIP: 14040HCA1<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    160000 | PA      | $158219.20    | 0.23%             | 2024-01-29      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Kraft Heinz Foods Co                           | Kraft Heinz Foods Co                                                  | CUSIP: 50077LAD8<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    200000 | PA      | $190406.00    | 0.28%             | 2026-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                             | Steel Dynamics Inc                                                    | CUSIP: 858119BM1<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    300000 | PA      | $270498.00    | 0.39%             | 2031-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                       | Visa Inc                                                              | CUSIP: 92826CAH5<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    100000 | PA      | $94747.00     | 0.14%             | 2027-09-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                            | Dominion Energy Inc                                                   | CUSIP: 25746UDL0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     35000 | PA      | $29056.30     | 0.04%             | 2031-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                     | US Bancorp                                                            | CUSIP: 91159HJF8<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    170000 | PA      | $169602.20    | 0.25%             | 2028-07-22      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                                 | Mastercard Inc                                                        | CUSIP: 57636QAR5<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97186.00     | 0.14%             | 2027-03-26      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                        | Bristol-Myers Squibb Co                                               | CUSIP: 110122DQ8<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |     60000 | PA      | $49098.00     | 0.07%             | 2030-11-13      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GLA5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74819.25     | 0.11%             | 2026-07-22      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                              | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18812.00     | 0.03%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                       | National Rural Utilities Cooperative Finance Corp                     | CUSIP: 637432NZ4<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14400.75     | 0.02%             | 2032-12-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                          | Mineral Resources Ltd                                                 | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    140000 | PA      | $145006.40    | 0.21%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NATIONAL RURAL UTIL COOP                       | National Rural Utilities Cooperative Finance Corp                     | CUSIP: 637432NS0<br>LEI: 4NYF266XZC35SCTGX023 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37768.40     | 0.06%             | 2029-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                            | American Express Co                                                   | CUSIP: 025816CY3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     70000 | PA      | $68977.30     | 0.10%             | 2025-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| AGILENT TECHNOLOGIES INC                       | Agilent Technologies Inc                                              | CUSIP: 00846UAN1<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |     85000 | PA      | $71378.75     | 0.10%             | 2031-03-12      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                          | Texas Instruments Inc                                                 | CUSIP: 882508BP8<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96027.00     | 0.14%             | 2032-08-16      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS                           | BlackRock Cash Funds: Treasury, SL Agency Shares                      | CUSIP: 066922477<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1725480 | NS      | $1726515.02   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES / NOTE                         | VICI Properties LP / VICI Note Co Inc                                 | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              |  | US        |     50000 | PA      | $47329.50     | 0.07%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Flex Ltd                                       | Flex Ltd                                                              | CUSIP: 33938XAA3<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |     50000 | PA      | $49238.50     | 0.07%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae I Pool                                                     | CUSIP: 3622AADU5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     15309 | PA      | $15095.87     | 0.02%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                       | International Business Machines Corp                                  | CUSIP: 459200KU4<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98377.00     | 0.14%             | 2032-07-27      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| VMWARE INC                                     | VMware Inc                                                            | CUSIP: 928563AD7<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29735.10     | 0.04%             | 2025-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES IN                       | Teledyne Technologies Inc                                             | CUSIP: 879360AB1<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |    450000 | PA      | $428746.50    | 0.63%             | 2024-04-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp                               | BAT Capital Corp                                                      | CUSIP: 05526DBN4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     29000 | PA      | $27435.16     | 0.04%             | 2030-04-02      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                           | Talos Production Inc                                                  | CUSIP: 87485LAC8<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    185000 | PA      | $196196.20    | 0.29%             | 2026-01-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ADVANCED MICRO DEVICES                         | Advanced Micro Devices Inc                                            | CUSIP: 007903BF3<br>LEI: R2I72C950HOYXII45366 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95649.00     | 0.14%             | 2032-06-01      | Fixed         | 3.92%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                               | Crown Castle Inc                                                      | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |     90000 | PA      | $85860.90     | 0.13%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                           | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    130000 | PA      | $118571.70    | 0.17%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                   | AES Corp/The                                                          | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45047.00     | 0.07%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| EASTERN ENERGY GAS                             | Eastern Energy Gas Holdings LLC                                       | CUSIP: 257375AN5<br>LEI: 549300BFOD6TDMVV4O24 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48196.00     | 0.07%             | 2024-11-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 21H050623<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    160000 | PA      | $161087.50    | 0.24%             | 2053-02-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                            | Sherwin-Williams Co/The                                               | CUSIP: 824348BL9<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |    150000 | PA      | $128311.50    | 0.19%             | 2030-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                       | Devon Energy Corp                                                     | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     26000 | PA      | $25111.84     | 0.04%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 31335CBP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |        81 | PA      | $79.65        | 0.00%             | 2049-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                         | Bank of New York Mellon Corp/The                                      | CUSIP: 06406RBK2<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50119.00     | 0.07%             | 2030-07-26      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJZ3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $87065.00     | 0.13%             | 2029-06-14      | Fixed         | 2.09%                 | No            |                  2 | On Loan: No      |
| Baxalta Inc                                    | Baxalta Inc                                                           | CUSIP: 07177MAB9<br>LEI: 5493000JW8DCO3T45R55 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196288.00    | 0.29%             | 2025-06-23      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                               | Alabama Power Co                                                      | CUSIP: 010392FU7<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |     50000 | PA      | $40360.00     | 0.06%             | 2030-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                       | FMC Corp                                                              | CUSIP: 302491AT2<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28503.00     | 0.04%             | 2026-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJD2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91575.00     | 0.13%             | 2026-06-19      | Fixed         | 1.32%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140J9SN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    119097 | PA      | $110573.96    | 0.16%             | 2048-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA                        | Public Service Co of Oklahoma                                         | CUSIP: 744533BM1<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |     60000 | PA      | $49709.40     | 0.07%             | 2031-08-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: —       |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                       | CUSIP: 718172CT4<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $130943.80    | 0.19%             | 2024-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140FXF23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     55247 | PA      | $54603.30     | 0.08%             | 2057-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                         | Santander Holdings USA Inc                                            | CUSIP: 80282KBB1<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |     85000 | PA      | $81419.80     | 0.12%             | 2025-06-02      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                | Xcel Energy Inc                                                       | CUSIP: 98388MAD9<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9901.40      | 0.01%             | 2032-06-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                         | UnitedHealth Group Inc                                                | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49283.00     | 0.07%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                             | CUSIP: 674599EA9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |     70000 | PA      | $82322.10     | 0.12%             | 2030-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJP5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    100000 | PA      | $84311.00     | 0.12%             | 2032-03-11      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                         | NextEra Energy Capital Holdings Inc                                   | CUSIP: 65339KBY5<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $135439.50    | 0.20%             | 2027-01-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179RNX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12163 | PA      | $12008.59     | 0.02%             | 2045-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                            | CUSIP: 92343VEN0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    300000 | PA      | $292167.00    | 0.43%             | 2025-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                            | American Tower Corp                                                   | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     60000 | PA      | $53123.40     | 0.08%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                   | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |     40000 | PA      | $36552.00     | 0.05%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                              | CBRE Services Inc                                                     | CUSIP: 12505BAE0<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |    130000 | PA      | $109931.90    | 0.16%             | 2031-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Roper Technologies Inc                         | Roper Technologies Inc                                                | CUSIP: 776743AB2<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34259.75     | 0.05%             | 2025-12-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                         | Fairfax Financial Holdings Ltd                                        | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |     30000 | PA      | $25417.20     | 0.04%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PEPSICO INC                                    | PepsiCo Inc                                                           | CUSIP: 713448ES3<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45493.50     | 0.07%             | 2030-03-19      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                      | CUSIP: 05526DBG9<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96774.00     | 0.14%             | 2024-09-06      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                           | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4478.90      | 0.01%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: —       |
| BAKER HUGHES LLC/CO-OBL                        | Baker Hughes Holdings LLC / Baker Hughes Co-Obligor Inc               | CUSIP: 05724BAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91098.00     | 0.13%             | 2026-12-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC                                     | AbbVie Inc                                                            | CUSIP: 00287YCX5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |    400000 | PA      | $392528.00    | 0.57%             | 2025-03-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| NEXSTAR BROADCASTING INC                       | Nexstar Media Inc                                                     | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     90000 | PA      | $81030.60     | 0.12%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CON EDISON CO OF NY INC                        | Consolidated Edison Co of New York Inc                                | CUSIP: 209111GA5<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21375.75     | 0.03%             | 2031-06-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| Citigroup Inc                                  | Citigroup Inc                                                         | CUSIP: 172967ME8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     50000 | PA      | $47060.00     | 0.07%             | 2030-03-20      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| NEXSTAR BROADCASTING INC                       | Nexstar Media Inc                                                     | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |     55000 | PA      | $52397.40     | 0.08%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                 | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     99000 | PA      | $92199.69     | 0.13%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| American Tower Corp                            | American Tower Corp                                                   | CUSIP: 03027XAT7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     50000 | PA      | $48924.00     | 0.07%             | 2024-05-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                      | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     88000 | PA      | $78899.04     | 0.12%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                     | DaVita Inc                                                            | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    120000 | PA      | $101096.40    | 0.15%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                         | Motorola Solutions Inc                                                | CUSIP: 620076BW8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162648.00    | 0.24%             | 2032-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                              | Post Holdings Inc                                                     | CUSIP: 737446AP9<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92784.00     | 0.14%             | 2029-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 61747YED3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    105000 | PA      | $85227.45     | 0.12%             | 2032-07-21      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PCZ7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294708.00    | 0.43%             | 2026-04-26      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                       | American Airlines Inc/AAdvantage Loyalty IP Ltd                       | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     90000 | PA      | $88263.00     | 0.13%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AmerisourceBergen Corp                         | AmerisourceBergen Corp                                                | CUSIP: 03073EAM7<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96803.00     | 0.14%             | 2025-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 6174468Q5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    110000 | PA      | $103342.80    | 0.15%             | 2026-04-28      | Fixed         | 2.19%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140HLJX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2212 | PA      | $2218.05      | 0.00%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                | Yum! Brands Inc                                                       | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140610.00    | 0.21%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TELEDYNE TECHNOLOGIES IN                       | Teledyne Technologies Inc                                             | CUSIP: 879360AD7<br>LEI: 549300VSMO9KYQWDND94 | Long             | DBT              | CORP              | US        |     30000 | PA      | $26649.90     | 0.04%             | 2028-04-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38148LAC0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    265000 | PA      | $258192.15    | 0.38%             | 2025-01-23      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US 2YR NOTE (CBT) MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         6 | NC      | $-1281.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     40000 | PA      | $37968.80     | 0.06%             | 2027-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association       | Ginnie Mae I Pool                                                     | CUSIP: 3622AAEU4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12387 | PA      | $12205.95     | 0.02%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                       | Berkshire Hathaway Energy Co                                          | CUSIP: 084659BD2<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |     75000 | PA      | $60303.75     | 0.09%             | 2031-05-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| NRG Energy Inc                                 | NRG Energy Inc                                                        | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     43000 | PA      | $38822.55     | 0.06%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| IBM CORP                                       | International Business Machines Corp                                  | CUSIP: 459200KH3<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    150000 | PA      | $134289.00    | 0.20%             | 2027-05-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC                                 | S&P Global Inc                                                        | CUSIP: 78409VBC7<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | DBT              | CORP              | US        |    180000 | PA      | $159417.00    | 0.23%             | 2032-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                         | Marriott International Inc/MD                                         | CUSIP: 571903BJ1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50425.50     | 0.07%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                          | Truist Financial Corp                                                 | CUSIP: 89788MAD4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    192000 | PA      | $173761.92    | 0.25%             | 2027-03-02      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                          | Toronto-Dominion Bank/The                                             | CUSIP: 89115A2A9<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $97919.00     | 0.14%             | 2025-06-06      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJR1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    115000 | PA      | $109003.90    | 0.16%             | 2025-04-22      | Fixed         | 0.98%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                       | Cheniere Corpus Christi Holdings LLC                                  | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    165000 | PA      | $155014.20    | 0.23%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHOICE HOTELS INTL INC                         | Choice Hotels International Inc                                       | CUSIP: 169905AF3<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |     85000 | PA      | $76631.75     | 0.11%             | 2029-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                       | Lloyds Banking Group PLC                                              | CUSIP: 53944YAT0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $394484.00    | 0.58%             | 2026-08-11      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| HUGHES SATELLITE SYSTEMS                       | Hughes Satellite Systems Corp                                         | CUSIP: 444454AF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48340.50     | 0.07%             | 2026-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FMG RESOURCES AUG 2006                         | FMG Resources August 2006 Pty Ltd                                     | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     45000 | PA      | $42805.80     | 0.06%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                    | CUSIP: 74456QCJ3<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45309.50     | 0.07%             | 2032-03-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| REGENERON PHARMACEUTICAL                       | Regeneron Pharmaceuticals Inc                                         | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |    190000 | PA      | $153238.80    | 0.22%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 01N042625<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    200000 | PA      | $199187.50    | 0.29%             | 2053-02-21      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELEC & POWER CO                       | Virginia Electric and Power Co                                        | CUSIP: 927804GH1<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | DBT              | CORP              | US        |    130000 | PA      | $126752.60    | 0.19%             | 2027-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                         | Bank of New York Mellon Corp/The                                      | CUSIP: 06406RBJ5<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34760.25     | 0.05%             | 2026-07-24      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                            | American Tower Corp                                                   | CUSIP: 03027XBH2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |    300000 | PA      | $287763.00    | 0.42%             | 2024-01-15      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                          | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $154371.20    | 0.23%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                             | CUSIP: 26442CAS3<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    130000 | PA      | $124148.70    | 0.18%             | 2026-12-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                             | CUSIP: 674599EF8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    150000 | PA      | $156808.50    | 0.23%             | 2031-01-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                         | Motorola Solutions Inc                                                | CUSIP: 620076BU2<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    140000 | PA      | $116151.00    | 0.17%             | 2031-05-24      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                          | Texas Instruments Inc                                                 | CUSIP: 882508BL7<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |     56000 | PA      | $46870.32     | 0.07%             | 2031-09-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179SLR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     61714 | PA      | $57694.62     | 0.08%             | 2046-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Exelon Corp                                    | Exelon Corp                                                           | CUSIP: 30161NAU5<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67281.20     | 0.10%             | 2026-04-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F022626<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3587000 | PA      | $3140410.72   | 4.59%             | 2053-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                       | Plains All American Pipeline LP / PAA Finance Corp                    | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $44970.00     | 0.07%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC                              | Golub Capital BDC Inc                                                 | CUSIP: 38173MAB8<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |     20000 | PA      | $17548.60     | 0.03%             | 2026-08-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                       | CUSIP: 718172CS6<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    340000 | PA      | $273751.00    | 0.40%             | 2030-11-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132XCR98<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     29406 | PA      | $29293.08     | 0.04%             | 2048-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                          | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83278.75     | 0.12%             | 2027-06-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Simon Property Group LP                        | Simon Property Group LP                                               | CUSIP: 828807CV7<br>LEI: MR92GTD0MJTTTTQDVG45 | Long             | DBT              |  | US        |    130000 | PA      | $126323.60    | 0.18%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                      | CUSIP: 87264ABB0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97123.00     | 0.14%             | 2025-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                       | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23149.00     | 0.03%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| DISH DBS CORP                                  | DISH DBS Corp                                                         | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $50325.80     | 0.07%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE                         | Blackstone Private Credit Fund                                        | CUSIP: 09261HAP2<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |     60000 | PA      | $56143.80     | 0.08%             | 2025-01-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                     | Intel Corp                                                            | CUSIP: 458140AS9<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    200000 | PA      | $195836.00    | 0.29%             | 2025-07-29      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                | CVS Health Corp                                                       | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141864.00    | 0.21%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                       | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    200000 | PA      | $210610.00    | 0.31%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GYM0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    300000 | PA      | $268461.00    | 0.39%             | 2027-10-21      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| EIDP INC                                       | EIDP Inc                                                              | CUSIP: 263534CN7<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93421.00     | 0.14%             | 2025-07-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO                               | Genuine Parts Co                                                      | CUSIP: 372460AB1<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |    315000 | PA      | $296219.70    | 0.43%             | 2025-02-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| CATERPILLAR FINL SERVICE                       | Caterpillar Financial Services Corp                                   | CUSIP: 14913R2S5<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    120000 | PA      | $115764.00    | 0.17%             | 2024-01-10      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                      | Apple Inc                                                             | CUSIP: 037833EH9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43423.50     | 0.06%             | 2028-08-05      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                        | CUSIP: 61747YET8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109106.80    | 0.16%             | 2026-07-17      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                       | 1011778 BC ULC / New Red Finance Inc                                  | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    320000 | PA      | $272291.20    | 0.40%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                            | CUSIP: 12513GBG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $90014.00     | 0.13%             | 2026-12-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                            | American Express Co                                                   | CUSIP: 025816CQ0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142761.00    | 0.21%             | 2025-03-04      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| INTELSAT JACKSON HLDG                          | Intelsat Jackson Holdings SA                                          | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |     90000 | PA      | $81673.20     | 0.12%             | 2030-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| PROCTER & GAMBLE CO/THE                        | Procter & Gamble Co/The                                               | CUSIP: 742718FW4<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43876.00     | 0.06%             | 2032-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U2K8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141531.00    | 0.21%             | 2026-02-11      | Fixed         | 2.16%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                             | Murphy Oil USA Inc                                                    | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    100000 | PA      | $91637.00     | 0.13%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AmerisourceBergen Corp                         | AmerisourceBergen Corp                                                | CUSIP: 03073EAP0<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |    158000 | PA      | $150983.22    | 0.22%             | 2027-12-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| MID-AMERICA APARTMENTS                         | Mid-America Apartments LP                                             | CUSIP: 59523UAT4<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | DBT              |  | US        |    110000 | PA      | $97308.20     | 0.14%             | 2026-09-15      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                     | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44861.85     | 0.07%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                              | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104872.00    | 0.15%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PCT1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    120000 | PA      | $112375.20    | 0.16%             | 2025-12-10      | Fixed         | 1.56%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                         | General Motors Financial Co Inc                                       | CUSIP: 37045XDU7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92290.60     | 0.13%             | 2025-04-07      | Fixed         | 3.80%                 | No            |                  2 | On Loan: —       |
| CINTAS CORPORATION NO. 2                       | Cintas Corp No 2                                                      | CUSIP: 17252MAN0<br>LEI: 549300QVUQTTKMTE0G41 | Long             | DBT              | CORP              | US        |     14000 | PA      | $13652.52     | 0.02%             | 2027-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                          | United Parcel Service Inc                                             | CUSIP: 911312BY1<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10113.10     | 0.01%             | 2030-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                            | American Tower Corp                                                   | CUSIP: 03027XBW9<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     50000 | PA      | $46344.50     | 0.07%             | 2032-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: —       |
| FLEX LTD                                       | Flex Ltd                                                              | CUSIP: 33938XAC9<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |         0 | PA      | $0.00         | 0.00%             | 2026-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                         | UnitedHealth Group Inc                                                | CUSIP: 91324PEC2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $45298.50     | 0.07%             | 2026-05-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                     | CUSIP: 404280DC0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $184388.00    | 0.27%             | 2033-03-29      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                          | CUSIP: 030981AL8<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |     76000 | PA      | $71625.44     | 0.10%             | 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        |    220000 | PA      | $208623.80    | 0.30%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| BELLRING BRANDS INC                            | BellRing Brands Inc                                                   | CUSIP: 07831CAA1<br>LEI: 549300S3BOK5CMTS8054 | Long             | DBT              | CORP              | US        |    155000 | PA      | $154668.30    | 0.23%             | 2030-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F030421<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    480000 | PA      | $460391.64    | 0.67%             | 2038-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ABBOTT LABORATORIES                            | Abbott Laboratories                                                   | CUSIP: 002824BQ2<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |    150000 | PA      | $124041.00    | 0.18%             | 2030-06-30      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CATERPILLAR FINL SERVICE                       | Caterpillar Financial Services Corp                                   | CUSIP: 14913R2V8<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97760.00     | 0.14%             | 2025-05-13      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                  | CUSIP: 35908MAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $82062.00     | 0.12%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                               | Bank of Montreal                                                      | CUSIP: 06368LAQ9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100262.00    | 0.15%             | 2027-09-14      | Fixed         | 4.70%                 | No            |                  2 | On Loan: —       |
| UNITEDHEALTH GROUP INC                         | UnitedHealth Group Inc                                                | CUSIP: 91324PED0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $43005.50     | 0.06%             | 2031-05-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp/The                                               | CUSIP: 808513BY0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93040.00     | 0.14%             | 2027-03-03      | Fixed         | 2.45%                 | No            |                  2 | On Loan: —       |
| MIZUHO FINANCIAL GROUP                         | Mizuho Financial Group Inc                                            | CUSIP: 60687YAW9<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $288213.00    | 0.42%             | 2025-07-16      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    120000 | PA      | $116079.60    | 0.17%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179MQP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     81922 | PA      | $79451.46     | 0.12%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Agilent Technologies Inc                       | Agilent Technologies Inc                                              | CUSIP: 00846UAK7<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $142045.50    | 0.21%             | 2026-09-22      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| JOHN DEERE CAPITAL CORP                        | John Deere Capital Corp                                               | CUSIP: 24422EWF2<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    190000 | PA      | $185495.10    | 0.27%             | 2025-06-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                 | Bombardier Inc                                                        | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    122000 | PA      | $121998.78    | 0.18%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| MURPHY OIL CORP                                | Murphy Oil Corp                                                       | CUSIP: 626717AM4<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14790.60     | 0.02%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                            | Quanta Services Inc                                                   | CUSIP: 74762EAH5<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     35000 | PA      | $27994.05     | 0.04%             | 2032-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                | DTE Electric Co                                                       | CUSIP: 23338VAN6<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |     80000 | PA      | $71049.60     | 0.10%             | 2028-04-01      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                    | Freddie Mac Gold Pool                                                 | CUSIP: 3132WKQ84<br>LEI: 254900HROIFWPRGM1V77 | Long             | ABS-MBS          | USGSE             | US        |     13438 | PA      | $12499.18     | 0.02%             | 2046-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HUMANA INC                                     | Humana Inc                                                            | CUSIP: 444859BT8<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37688.80     | 0.06%             | 2029-03-23      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                         | Bank of New York Mellon Corp/The                                      | CUSIP: 06406RBN6<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39974.00     | 0.06%             | 2029-02-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp                             | Union Pacific Corp                                                    | CUSIP: 907818ES3<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98362.00     | 0.14%             | 2025-07-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                             | Banco Santander SA                                                    | CUSIP: 05964HAL9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    210000 | PA      | $189147.00    | 0.28%             | 2026-03-25      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                        | Duke Energy Florida LLC                                               | CUSIP: 26444HAK7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |    130000 | PA      | $110587.10    | 0.16%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                     | CUSIP: 49456BAU5<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89741.00     | 0.13%             | 2026-11-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179R7H6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     65121 | PA      | $60879.12     | 0.09%             | 2046-04-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                      | ONEOK Inc                                                             | CUSIP: 682680AX1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    190000 | PA      | $183302.50    | 0.27%             | 2024-09-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                               | CSC Holdings LLC                                                      | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $73054.00     | 0.11%             | 2028-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                            | American Tower Corp                                                   | CUSIP: 03027XBV1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     20000 | PA      | $19033.00     | 0.03%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AMAZON.COM INC                                 | Amazon.com Inc                                                        | CUSIP: 023135CF1<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    200000 | PA      | $193386.00    | 0.28%             | 2027-04-13      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                               | CUSIP: 404119CA5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     35000 | PA      | $31376.45     | 0.05%             | 2030-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                         | Williams Cos Inc/The                                                  | CUSIP: 969457BZ2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78038.40     | 0.11%             | 2032-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 3617NWHH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    186657 | PA      | $167965.65    | 0.25%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                      | Uniform Mortgage-Backed Security, TBA                                 | CUSIP: 01F042624<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    708000 | PA      | $699150.00    | 1.02%             | 2053-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                         | UnitedHealth Group Inc                                                | CUSIP: 91324PCV2<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    135000 | PA      | $130589.55    | 0.19%             | 2026-03-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| RELIANCE STEEL & ALUM                          | Reliance Steel & Aluminum Co                                          | CUSIP: 759509AG7<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |     80000 | PA      | $66276.80     | 0.10%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                      | Amgen Inc                                                             | CUSIP: 031162CV0<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141606.00    | 0.21%             | 2025-02-21      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                              | Ares Capital Corp                                                     | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |     68000 | PA      | $59479.60     | 0.09%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                               | Bank of Montreal                                                      | CUSIP: 06368FAC3<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $53282.40     | 0.08%             | 2026-09-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GYA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44756.00     | 0.07%             | 2027-03-09      | Fixed         | 1.43%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                            | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44466.00     | 0.06%             | 2030-03-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                        | Laboratory Corp of America Holdings                                   | CUSIP: 50540RAX0<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |     65000 | PA      | $58510.40     | 0.09%             | 2026-06-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                     | Fannie Mae Pool                                                       | CUSIP: 3140XHZ34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    220006 | PA      | $224024.27    | 0.33%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                        | Exxon Mobil Corp                                                      | CUSIP: 30231GBN1<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |    110000 | PA      | $99194.70     | 0.14%             | 2030-10-15      | Fixed         | 2.61%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                       | Toyota Motor Credit Corp                                              | CUSIP: 89236TKF1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    170000 | PA      | $166333.10    | 0.24%             | 2025-08-18      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                       | AT&T Inc                                                              | CUSIP: 00206RGQ9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     60000 | PA      | $58529.40     | 0.09%             | 2030-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ATHENAHEALTH GROUP INC                         | AthenaHealth Group Inc                                                | CUSIP: 60337JAA4<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | DBT              | CORP              | US        |     78000 | PA      | $64369.50     | 0.09%             | 2030-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| CINTAS CORPORATION NO. 2                       | Cintas Corp No 2                                                      | CUSIP: 17252MAP5<br>LEI: 549300QVUQTTKMTE0G41 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29229.30     | 0.04%             | 2025-05-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: —       |
| CHENIERE CORP CHRISTI HD                       | Cheniere Corpus Christi Holdings LLC                                  | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80593.60     | 0.12%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc                                                   | CUSIP: 25746UCK3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46850.50     | 0.07%             | 2026-08-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO INC                            | Sirius XM Radio Inc                                                   | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140643.00    | 0.21%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                        | Canadian Natural Resources Ltd                                        | CUSIP: 136385AZ4<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    200000 | PA      | $187258.00    | 0.27%             | 2025-07-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                         | Bausch Health Americas Inc                                            | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |     67000 | PA      | $35333.79     | 0.05%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association       | Ginnie Mae                                                            | CUSIP: 01N040629<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    196000 | PA      | $190855.00    | 0.28%             | 2053-02-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                           | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     45000 | PA      | $37648.35     | 0.05%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                       | Weatherford International Ltd                                         | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |     27000 | PA      | $27216.81     | 0.04%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: —       |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                           | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     20000 | PA      | $18936.20     | 0.03%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                   | Broadcom Inc                                                          | CUSIP: 11135FBB6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    350000 | PA      | $334929.00    | 0.49%             | 2025-11-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                    | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     60000 | PA      | $61755.60     | 0.09%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                | CUSIP: 03969AAP5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    200000 | PA      | $163816.00    | 0.24%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Constellation Brands Inc                       | Constellation Brands Inc                                              | CUSIP: 21036PAQ1<br>LEI: 5493005GKEG8QCVY7037 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4837.55      | 0.01%             | 2026-12-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                              | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    120000 | PA      | $114010.80    | 0.17%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                             | VICI Properties LP                                                    | CUSIP: 925650AA1<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    100000 | PA      | $97851.00     | 0.14%             | 2025-05-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                   | CUSIP: 46647PBT2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    315000 | PA      | $282230.55    | 0.41%             | 2026-11-19      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA LTD                          | Rio Tinto Finance USA Ltd                                             | CUSIP: 767201AD8<br>LEI: 213800RX94ZKEZXPKH58 | Long             | DBT              | CORP              | AU        |     13000 | PA      | $14633.19     | 0.02%             | 2028-07-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                   | ING Groep NV                                                          | CUSIP: 456837BA0<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $194492.00    | 0.28%             | 2026-03-28      | Fixed         | 3.87%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U3C5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148551.00    | 0.22%             | 2026-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                       | Clear Channel Outdoor Holdings Inc                                    | CUSIP: 18453HAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     53000 | PA      | $45139.04     | 0.07%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                     | Zoetis Inc                                                            | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |     90000 | PA      | $76280.40     | 0.11%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                         | Arizona Public Service Co                                             | CUSIP: 040555DD3<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |     15000 | PA      | $11906.40     | 0.02%             | 2031-12-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                         | General Motors Financial Co Inc                                       | CUSIP: 37045XDP8<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    100000 | PA      | $85708.00     | 0.13%             | 2028-10-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                       | Consolidated Communications Inc                                       | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $81626.00     | 0.12%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP HOLDG                       | Cloud Software Group Holdings Inc                                     | CUSIP: 88632QAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    136000 | PA      | $119331.84    | 0.17%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Government National Mortgage Association       | Ginnie Mae II Pool                                                    | CUSIP: 36179RBX6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     24417 | PA      | $23637.98     | 0.03%             | 2045-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                         | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     60000 | PA      | $54272.40     | 0.08%             | 2033-03-17      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| TRANSCONT GAS PIPE LINE                        | Transcontinental Gas Pipe Line Co LLC                                 | CUSIP: 893574AP8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $76643.65     | 0.11%             | 2030-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                  | Citigroup Inc                                                         | CUSIP: 172967MF5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    225000 | PA      | $220090.50    | 0.32%             | 2025-04-24      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                  | Citigroup Inc                                                         | CUSIP: 172967NA5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133579.50    | 0.20%             | 2027-06-09      | Fixed         | 1.46%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                 | Lowe's Cos Inc                                                        | CUSIP: 548661EG8<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     30000 | PA      | $28730.10     | 0.04%             | 2027-04-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| ALLEGION US HOLDING CO                         | Allegion US Holding Co Inc                                            | CUSIP: 01748NAD6<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24181.50     | 0.04%             | 2024-10-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| VMWARE INC                                     | VMware Inc                                                            | CUSIP: 928563AH8<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46943.00     | 0.07%             | 2024-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | US ULTRA BOND CBT MAR23                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -27 | NC      | $-212012.47   | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM CRP / CAYMN FI                        | Broadcom Corp / Broadcom Cayman Finance Ltd                           | CUSIP: 11134LAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    100000 | PA      | $98622.00     | 0.14%             | 2024-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| QUANTA SERVICES INC                            | Quanta Services Inc                                                   | CUSIP: 74762EAG7<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |     80000 | PA      | $74422.40     | 0.11%             | 2024-10-01      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                            | CUSIP: 92343VFR0<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $80513.00     | 0.12%             | 2031-01-20      | Fixed         | 1.75%                 | No            |                  2 | On Loan: —       |
| TORONTO-DOMINION BANK                          | Toronto-Dominion Bank/The                                             | CUSIP: 89114TZG0<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $266484.00    | 0.39%             | 2026-09-10      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| COOPERAT RABOBANK UA/NY                        | Cooperatieve Rabobank UA/NY                                           | CUSIP: 21688AAS1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $235100.00    | 0.34%             | 2025-01-10      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                  | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    450000 | PA      | $403182.00    | 0.59%             | 2027-07-22      | Fixed         | 1.73%                 | 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        |    100000 | NS      | $100000.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| KRAFT HEINZ FOODS CO                           | Kraft Heinz Foods Co                                                  | CUSIP: 50077LBC9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    165000 | PA      | $160714.95    | 0.23%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                             | CUSIP: 26885BAM2<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80220.80     | 0.12%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                 | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    120000 | PA      | $109984.80    | 0.16%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AMPHENOL CORP                                  | Amphenol Corp                                                         | CUSIP: 032095AK7<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     40000 | PA      | $37904.00     | 0.06%             | 2025-03-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                      | CUSIP: 95000U2X0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    500000 | PA      | $488345.00    | 0.71%             | 2026-04-25      | Fixed         | 3.91%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer