The Markets in Review

Dear Shareholder,

The 12-month reporting period as of August 31, 2022 saw the emergence of significant challenges that disrupted the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022, ending the run of robust growth that followed the reopening of global economies and the development of COVID-19 vaccines. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.

Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks and economically sensitive small-capitalization stocks. While both large- and small-capitalization U.S. stocks fell, declines for small-capitalization U.S. stocks were steeper. Both emerging market stocks and international equities from developed markets fell significantly, pressured by rising interest rates and a strengthening U.S. dollar.

The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose notably during the reporting period as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).

The U.S. Federal Reserve (the “Fed”), acknowledging that inflation is growing faster than expected, raised interest rates four times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and began to reduce its balance sheet. As investors attempted to assess the Fed’s future trajectory, the Fed’s statements late in the reporting period led markets to believe that additional tightening is likely in the near term.

The horrific war in Ukraine has significantly clouded the outlook for the global economy, leading to major volatility in energy and metals markets. Sanctions on Russia, Europe’s top energy supplier, and general wartime disruption have magnified supply problems for key commodities. We believe elevated energy prices will continue to exacerbate inflationary pressure while also constraining economic growth. Combating inflation without stifling a recovery, while buffering against ongoing supply and price shocks, will be an especially challenging environment for setting effective monetary policy. Despite the likelihood of more rate increases on the horizon, we believe the Fed will ultimately err on the side of protecting employment, even at the expense of higher inflation. In the meantime, however, we are likely to see a period of slowing growth paired with relatively high inflation.

In this environment, while we favor an overweight to equities in the long-term, the market’s concerns over excessive rate hikes from central banks moderate our outlook. Furthermore, the energy shock and a deteriorating economic backdrop in China and Europe are likely to challenge corporate earnings, so we are underweight equities overall in the near term. We take the opposite view on credit, where higher spreads provide near-term opportunities, while the likelihood of higher inflation leads us to take an underweight stance on credit in the long term. We believe that investment-grade corporates, U.K. gilts, local-currency emerging market debt, and inflation-protected bonds (particularly in Europe) offer strong opportunities for a six- to twelve-month horizon.

Overall, our view is that investors need to think globally, extend their scope across a broad array of asset classes, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of August 31, 2022

	6-Month			12-Month

U.S. large cap equities (S&P 500^® Index)		(8.84	)%		(11.23	)%

U.S. small cap equities (Russell 2000^® Index)		(9.31	)		(17.88	)

International equities (MSCI Europe, Australasia, Far East Index)		(13.97	)		(19.80	)

Emerging market equities (MSCI Emerging Markets Index)		(13.30	)		(21.80	)

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)		0.36			0.39

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)		(9.71	)		(13.27	)

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)		(7.76	)		(11.52	)

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)		(5.72	)		(8.63	)

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)		(7.78	)		(10.61	)

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares iBoxx $ High Yield Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield corporate bonds, as represented by the Markit iBoxx^® USD Liquid High Yield Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.

The iShares iBoxx $ Investment Grade Corporate Bond ETF(the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade corporate bonds, as represented by the Markit iBoxx^® USD Liquid Investment Grade Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.

Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.

The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”

The expense examples also provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in the Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.9%
Clear Channel Outdoor Holdings Inc.
5.13%, 08/15/27 (Call 10/03/22)^(a)(b)	$	18,520	$	16,644,850
7.50%, 06/01/29 (Call 06/01/24)^(a)(b)		13,651		10,923,530
7.75%, 04/15/28 (Call 04/15/24)^(a)(b)		12,945		10,488,039
Lamar Media Corp.
3.63%, 01/15/31 (Call 01/15/26)^(b)		7,986		6,650,741
3.75%, 02/15/28 (Call 02/15/23)^(b)		8,183		7,323,785
4.00%, 02/15/30 (Call 02/15/25)^(b)		5,307		4,670,160
4.88%, 01/15/29 (Call 01/15/24)^(b)		5,767		5,363,310
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.25%, 01/15/29 (Call 01/15/24)^(a)(b)		6,641		5,581,308
4.63%, 03/15/30 (Call 03/15/25)^(a)(b)		7,180		5,975,705
5.00%, 08/15/27 (Call 09/12/22)^(a)(b)		8,371		7,661,641
6.25%, 06/15/25 (Call 10/03/22)^(a)(b)		3,571		3,548,082
Stagwell Global LLC, 5.63%, 08/15/29
(Call 08/15/24)^(a)(b)		14,180		12,008,333
Terrier Media Buyer Inc., 8.88%, 12/15/27
(Call 12/15/22)^(a)(b)		13,007		11,387,629


				108,227,113

Aerospace & Defense — 2.5%
Bombardier Inc.
6.00%, 02/15/28 (Call 02/15/24)^(a)		10,878		9,623,843
7.13%, 06/15/26 (Call 06/15/23)^(a)		16,183		15,420,457
7.50%, 12/01/24 (Call 10/03/22)^(a)(b)		7,072		7,025,678
7.50%, 03/15/25 (Call 10/03/22)^(a)(b)		15,774		15,429,180
7.88%, 04/15/27 (Call 10/03/22)^(a)(b)		25,060		23,944,830
Howmet Aerospace Inc.
3.00%, 01/15/29 (Call 11/15/28)^(b)		9,113		7,689,094
5.13%, 10/01/24 (Call 07/01/24)^(b)		13,282		13,218,246
6.88%, 05/01/25 (Call 04/01/25)^(b)		7,875		8,078,837
Rolls-Royce PLC
3.63%, 10/14/25 (Call 07/14/25)^(a)(b)		14,452		13,024,865
5.75%, 10/15/27 (Call 07/15/27)^(a)		11,938		10,776,433
Spirit AeroSystems Inc.
4.60%, 06/15/28 (Call 03/15/28)^(b)		8,655		6,816,002
5.50%, 01/15/25 (Call 10/15/22)^(a)		6,461		6,270,804
7.50%, 04/15/25 (Call 10/03/22)^(a)		17,243		16,817,443
TransDigm Inc.
4.63%, 01/15/29 (Call 01/15/24)^(b)		15,083		12,754,486
4.88%, 05/01/29 (Call 05/01/24)^(b)		10,032		8,493,217
5.50%, 11/15/27 (Call 11/15/22)^(b)		36,325		32,575,170
6.25%, 03/15/26 (Call 10/03/22)^(a)		61,161		60,028,298
6.38%, 06/15/26 (Call 10/03/22)^(b)		12,359		11,875,785
7.50%, 03/15/27 (Call 10/03/22)^(b)		6,060		5,905,955
8.00%, 12/15/25 (Call 10/03/22)^(a)		13,350		13,619,948
TransDigm UK Holdings PLC, 6.88%, 05/15/26
(Call 10/03/22)		6,039		5,820,955
Triumph Group Inc.
6.25%, 09/15/24 (Call 10/03/22)^(a)		7,409		6,803,314
7.75%, 08/15/25 (Call 10/03/22)^(b)		6,257		5,248,059
8.88%, 06/01/24 (Call 02/01/23)^(a)(b)		5,363		5,403,477


				322,664,376

Agriculture — 0.3%
Darling Ingredients Inc.
5.25%, 04/15/27 (Call 09/12/22)^(a)		6,742		6,615,655
6.00%, 06/15/30 (Call 06/15/25)^(a)(b)		11,806		11,820,876


Security	Par (000)		Value

Agriculture (continued)
Vector Group Ltd.
5.75%, 02/01/29 (Call 02/01/24)^(a)(b)	$	10,724	$	9,218,484
10.50%, 11/01/26 (Call 10/03/22)^(a)		8,787		8,385,873

				36,040,888

Airlines — 1.9%
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)^(a)(b)		16,754		14,899,332
American Airlines Group Inc., 3.75%, 03/01/25^(a)(b)		5,663		4,772,153
American Airlines Inc., 11.75%, 07/15/25^(a)(b)		33,586		36,774,571
American Airlines Inc./AAdvantage Loyalty IP Ltd.
5.50%, 04/20/26^(a)(b)		48,539		46,206,895
5.75%, 04/20/29^(a)		41,314		37,334,039
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)^(b)		10,303		9,645,862
3.75%, 10/28/29 (Call 07/28/29)^(b)		8,660		7,079,550
4.38%, 04/19/28 (Call 01/19/28)^(b)		7,448		6,552,564
7.38%, 01/15/26 (Call 12/15/25)^(b)		11,109		11,331,180
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)^(a)(b)		15,851		14,475,292
United Airlines Inc.
4.38%, 04/15/26 (Call 10/15/25)^(a)(b)		26,501		24,139,761
4.63%, 04/15/29 (Call 10/15/28)^(a)		26,811		23,526,653


				236,737,852

Apparel — 0.2%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)(b)		8,736		8,420,368
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		11,767		10,829,759


				19,250,127

Auto Manufacturers — 3.5%
Allison Transmission Inc.
3.75%, 01/30/31 (Call 01/30/26)^(a)(b)		11,968		9,669,546
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)		6,393		5,945,490
5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		7,418		6,986,022
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25
(Call 11/01/24)^(a)		17,092		17,134,730
Ford Motor Co.
3.25%, 02/12/32 (Call 11/12/31)		30,849		24,119,908
4.35%, 12/08/26 (Call 09/08/26)^(b)		20,315		19,578,581
6.10%, 08/19/32		20,495		19,945,324
9.00%, 04/22/25 (Call 09/01/22)^(b)		14,328		15,986,556
9.63%, 04/22/30 (Call 01/22/30)^(b)		6,365		7,427,436
Ford Motor Credit Co. LLC
2.30%, 02/10/25 (Call 01/10/25)^(b)		16,601		15,097,225
2.70%, 08/10/26 (Call 07/10/26)		16,543		14,359,246
2.90%, 02/16/28 (Call 12/16/27)^(b)		8,034		6,673,555
2.90%, 02/10/29 (Call 12/10/28)^(b)		10,412		8,404,462
3.35%, 11/01/22		713		711,324
3.37%, 11/17/23		7,941		7,751,031
3.38%, 11/13/25 (Call 10/13/25)^(b)		26,978		24,551,329
3.63%, 06/17/31 (Call 03/17/31)^(b)		13,257		10,734,458
3.66%, 09/08/24		10,607		10,166,279
3.81%, 01/09/24 (Call 11/09/23)		9,790		9,563,012
3.82%, 11/02/27 (Call 08/02/27)		10,607		9,336,281
4.00%, 11/13/30 (Call 08/13/30)		19,577		16,378,706
4.06%, 11/01/24 (Call 10/01/24)^(b)		19,150		18,422,300
4.13%, 08/04/25		15,840		14,939,832
4.13%, 08/17/27 (Call 06/17/27)^(b)		15,007		13,543,818
4.27%, 01/09/27 (Call 11/09/26)		11,791		10,797,608
4.39%, 01/08/26		14,974		14,065,063


Security	Par (000)		Value

Auto Manufacturers (continued)
4.54%, 08/01/26 (Call 06/01/26)	$	9,546	$	8,906,120
4.69%, 06/09/25 (Call 04/09/25)^(b)		6,815		6,542,400
4.95%, 05/28/27 (Call 04/28/27)^(b)		18,164		17,035,400
5.11%, 05/03/29 (Call 02/03/29)^(b)		17,074		15,801,304
5.13%, 06/16/25 (Call 05/16/25)^(b)		20,110		19,598,201
5.58%, 03/18/24 (Call 02/18/24)		19,878		19,781,592
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)(b)		7,422		5,470,608
5.50%, 07/15/29 (Call 07/15/24)^(a)(b)		6,349		4,502,847
5.88%, 01/15/28 (Call 01/15/24)^(a)		8,931		6,789,235
7.75%, 10/15/25 (Call 10/15/22)^(a)		9,306		8,597,783


				445,314,612

Auto Parts & Equipment — 1.4%
Adient Global Holdings Ltd., 4.88%, 08/15/26
(Call 10/03/22)^(a)(b)		633		580,011
American Axle & Manufacturing Inc.
5.00%, 10/01/29 (Call 10/01/24)^(b)		7,538		6,296,868
6.25%, 03/15/26 (Call 09/12/22)^(b)		600		579,684
6.50%, 04/01/27 (Call 10/03/22)^(b)		5,889		5,503,271
6.88%, 07/01/28 (Call 07/01/23)^(b)		6,268		5,937,676
Clarios Global LP, 6.75%, 05/15/25 (Call 10/03/22)^(a)(b)		4,688		4,689,467
Clarios Global LP/Clarios US Finance Co.
6.25%, 05/15/26 (Call 10/03/22)^(a)(b)		10,664		10,503,441
8.50%, 05/15/27 (Call 10/03/22)^(a)(b)		27,470		26,817,588
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25
(Call 10/03/22)^(a)(b)		5,281		5,192,933
Dana Inc.
4.25%, 09/01/30 (Call 05/01/26)^(b)		4,975		4,015,372
5.38%, 11/15/27 (Call 11/15/22)^(b)		5,527		4,936,716
5.63%, 06/15/28 (Call 06/15/23)^(b)		4,916		4,412,251
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(b)		7,934		7,448,043
5.00%, 05/31/26 (Call 10/03/22)^(b)		11,598		11,192,070
5.00%, 07/15/29 (Call 04/15/29)^(b)		11,194		9,999,880
5.25%, 04/30/31 (Call 01/30/31)^(b)		8,042		7,028,789
5.25%, 07/15/31 (Call 04/15/31)^(b)		8,087		6,954,820
5.63%, 04/30/33 (Call 01/30/33)^(b)		6,050		5,223,580
9.50%, 05/31/25 (Call 09/16/22)		9,485		9,899,715
Tenneco Inc.
5.00%, 07/15/26 (Call 10/03/22)^(b)		6,933		6,620,437
5.13%, 04/15/29 (Call 04/15/24)^(a)(b)		10,777		10,536,988
7.88%, 01/15/29 (Call 01/15/24)^(a)(b)		6,227		6,294,459
ZF North America Capital Inc., 4.75%, 04/29/25^(a)		15,096		13,941,156


				174,605,215

Banks — 1.4%
Commerzbank AG, 8.13%, 09/19/23^(a)(b)		2,576		2,624,765
Deutsche Bank AG
4.30%, 05/24/28 (Call 05/24/23),
(5 year USD Swap + 2.248%)^(b)(c)		317		292,829
4.50%, 04/01/25^(b)		18,056		17,393,164
Deutsche Bank AG/New York NY
3.73%, 01/14/32 (Call 10/14/30),
(SOFR + 2.757%)^(c)		16,417		12,115,884
3.74%, 01/07/33 (Call 10/07/31),
(SOFR + 2.257%)^(c)		17,491		12,435,066
4.88%, 12/01/32 (Call 12/01/27)^(b)(c)		13,767		11,679,967
5.88%, 07/08/31 (Call 04/08/30),
(SOFR + 5.438%)^(b)(c)		6,960		6,068,204


Security	Par (000)		Value

Banks (continued)
Fifth Third Bancorp., Series H, 5.10%,
(Call 06/30/23)^(b)(c)(d)	$	282	$	258,242
Freedom Mortgage Corp.
6.63%, 01/15/27 (Call 01/15/24)^(a)(b)		8,135		6,125,655
7.63%, 05/01/26 (Call 05/01/23)^(a)(b)		7,411		6,087,486
8.13%, 11/15/24 (Call 10/03/22)^(a)(b)		5,711		5,125,622
8.25%, 04/15/25 (Call 10/03/22)^(a)(b)		8,320		7,220,221
Intesa Sanpaolo SpA
4.20%, 06/01/32 (Call 06/01/31)^(a)(c)		10,691		7,754,808
5.02%, 06/26/24^(a)(b)		25,692		24,851,412
5.71%, 01/15/26^(a)(b)		20,552		19,273,624
UniCredit SpA
5.46%, 06/30/35 (Call 06/30/30)^(a)(b)(c)		20,352		16,060,007
5.86%, 06/19/32 (Call 06/19/27)^(a)(b)(c)		14,005		12,012,951
7.30%, 04/02/34 (Call 04/02/29)^(a)(c)		16,546		14,812,462


				182,192,369

Building Materials — 1.1%
Builders FirstSource Inc.
4.25%, 02/01/32 (Call 08/01/26)^(a)(b)		17,148		13,634,461
5.00%, 03/01/30 (Call 03/01/25)^(a)(b)		7,428		6,517,946
6.38%, 06/15/32 (Call 06/15/27)^(a)(b)		9,550		8,857,625
Camelot Return Merger Sub Inc., 8.75%, 08/01/28
(Call 08/01/24)^(a)(b)		9,665		8,740,446
Cornerstone Building Brands Inc., 6.13%, 01/15/29
(Call 09/15/23)^(a)		6,230		4,209,922
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)		13,000		12,025,000
Jeld-Wen Inc.
4.63%, 12/15/25 (Call 10/03/22)^(a)(b)		5,661		4,843,693
4.88%, 12/15/27 (Call 12/15/22)^(a)(b)		4,939		3,827,725
SRM Escrow Issuer LLC, 6.00%, 11/01/28
(Call 11/01/23)^(a)		14,733		13,364,304
Standard Industries Inc./NJ
3.38%, 01/15/31 (Call 07/15/25)^(a)(b)		14,954		10,937,057
4.38%, 07/15/30 (Call 07/15/25)^(a)(b)		21,093		16,773,786
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		13,499		11,769,013
5.00%, 02/15/27 (Call 10/03/22)^(a)(b)		12,048		11,033,220
Summit Materials LLC/Summit Materials Finance Corp.,
5.25%, 01/15/29 (Call 07/15/23)^(a)(b)		9,394		8,471,452


				135,005,650

Chemicals — 1.7%
ASP Unifrax Holdings Inc
5.25%, 09/30/28 (Call 09/30/24)^(a)(b)		10,877		8,857,671
7.50%, 09/30/29 (Call 09/30/24)^(a)(b)		5,198		3,785,444
Avient Corp.
5.75%, 05/15/25 (Call 10/03/22)^(a)		1,654		1,633,325
7.13%, 08/01/30 (Call 08/01/25)^(a)		5,485		5,441,435
Axalta Coating Systems LLC, 3.38%, 02/15/29
(Call 02/15/24)^(a)(b)		8,406		6,971,789
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)^(a)(b)		7,163		6,634,729
Chemours Co. (The)
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		8,561		7,105,630
5.38%, 05/15/27 (Call 02/15/27)^(b)		5,860		5,383,875
5.75%, 11/15/28 (Call 11/15/23)^(a)(b)		10,879		9,769,723
Methanex Corp.
5.13%, 10/15/27 (Call 04/15/27)^(b)		8,123		7,395,991
5.25%, 12/15/29 (Call 09/15/29)		10,760		9,051,850


Security	Par (000)		Value

Chemicals (continued)
NOVA Chemicals Corp.
4.25%, 05/15/29 (Call 05/15/24)^(a)(b)	$	8,715	$	7,101,853
4.88%, 06/01/24 (Call 03/03/24)^(a)(b)		13,147		12,566,000
5.00%, 05/01/25 (Call 01/31/25)^(a)(b)		5,608		5,203,794
5.25%, 06/01/27 (Call 03/03/27)^(a)(b)		14,386		12,731,610
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(b)		7,578		7,000,632
5.13%, 09/15/27 (Call 10/03/22)		7,193		6,826,976
5.63%, 08/01/29 (Call 08/01/24)^(b)		7,141		6,783,950
Olympus Water U.S. Holding Corp.
4.25%, 10/01/28 (Call 10/01/24)^(a)(b)		11,721		9,535,620
6.25%, 10/01/29 (Call 10/01/24)^(a)(b)		5,612		4,164,198
SCIH Salt Holdings Inc.
4.88%, 05/01/28 (Call 05/01/24)^(a)(b)		15,561		13,387,215
6.63%, 05/01/29 (Call 05/01/24)^(a)(b)		8,529		7,004,441
Tronox Inc., 4.63%, 03/15/29 (Call 03/15/24)^(a)(b)		13,801		11,472,081
Valvoline Inc.
3.63%, 06/15/31 (Call 06/15/26)^(a)(b)		7,827		6,269,427
4.25%, 02/15/30 (Call 02/15/25)^(a)(b)		7,170		6,990,750
WR Grace Holdings LLC
4.88%, 06/15/27 (Call 06/15/23)^(a)(b)		10,860		9,940,158
5.63%, 08/15/29 (Call 08/15/24)^(a)(b)		14,632		11,595,860


				210,606,027

Commercial Services — 4.2%
ADT Security Corp. (The), 4.13%, 08/01/29
(Call 08/01/28)^(a)(b)		12,330		10,485,802
Albion Financing 1 SARL/Aggreko Holdings Inc.
6.13%, 10/15/26 (Call 10/15/23)^(a)		7,792		6,842,792
8.75%, 04/15/27 (Call 10/15/23)^(a)(b)		5,831		5,282,166
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.00%, 06/01/29 (Call 06/01/24)^(a)(b)		12,391		9,192,594
6.63%, 07/15/26 (Call 10/03/22)^(a)		28,012		26,261,250
9.75%, 07/15/27 (Call 10/03/22)^(a)(b)		13,435		12,088,857
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/28 (Call 06/01/24)^(a)(b)		27,592		23,197,061
APX Group Inc.
5.75%, 07/15/29 (Call 07/15/24)^(a)(b)		10,645		8,768,819
6.75%, 02/15/27 (Call 02/15/23)^(a)(b)		8,914		8,746,863
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
4.75%, 04/01/28 (Call 04/01/24)^(a)(b)		6,324		5,493,975
5.38%, 03/01/29 (Call 03/01/24)^(a)(b)		9,065		7,920,544
5.75%, 07/15/27 (Call 10/03/22)^(a)(b)		4,893		4,636,118
Block Inc.
2.75%, 06/01/26 (Call 05/01/26)^(b)		15,787		14,010,962
3.50%, 06/01/31 (Call 03/01/31)^(b)		12,600		10,366,398
Brink’s Co. (The)
4.63%, 10/15/27 (Call 10/15/22)^(a)(b)		7,000		6,240,033
5.50%, 07/15/25 (Call 10/03/22)^(a)(b)		4,997		4,878,321
Garda World Security Corp.
4.63%, 02/15/27 (Call 02/15/23)^(a)(b)		8,254		7,230,504
6.00%, 06/01/29 (Call 06/01/24)^(a)(b)		7,278		5,640,450
9.50%, 11/01/27 (Call 11/01/22)^(a)(b)		7,145		6,491,233
Gartner Inc.
3.63%, 06/15/29 (Call 06/15/24)^(a)(b)		6,386		5,515,882
3.75%, 10/01/30 (Call 10/01/25)^(a)		12,417		10,647,578
4.50%, 07/01/28 (Call 07/01/23)^(a)(b)		9,215		8,528,022
Grand Canyon University
4.13%, 10/01/24		5,594		5,318,551


Security	Par (000)		Value

Commercial Services (continued)
5.13%, 10/01/28 (Call 08/01/28)^(b)	$	5,676	$	5,213,974
Herc Holdings Inc., 5.50%, 07/15/27
(Call 10/03/22)^(a)(b)		15,712		14,826,629
Hertz Corp. (The)
4.63%, 12/01/26 (Call 12/01/23)^(a)		7,027		6,025,653
5.00%, 12/01/29 (Call 12/01/24)^(a)(b)		13,278		10,620,491
MPH Acquisition Holdings LLC
5.50%, 09/01/28 (Call 09/01/24)^(a)(b)		14,947		12,906,734
5.75%, 11/01/28 (Call 11/01/23)^(a)(b)		16,831		13,343,617
Nielsen Co. Luxembourg SARL (The), 5.00%, 02/01/25
(Call 10/03/22)^(a)(b)		4,305		4,321,144
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 07/15/29 (Call 07/15/24)^(a)		8,165		8,171,532
4.75%, 07/15/31 (Call 07/15/26)^(a)(b)		8,622		8,578,976
5.63%, 10/01/28 (Call 10/01/23)^(a)(b)		15,479		15,532,531
5.88%, 10/01/30 (Call 10/01/25)^(a)(b)		11,429		11,424,086
Prime Security Services Borrower LLC/Prime Finance Inc.
3.38%, 08/31/27 (Call 08/31/26)^(a)(b)		13,483		11,549,032
5.25%, 04/15/24^(a)(b)		9,147		9,029,804
5.75%, 04/15/26^(a)(b)		17,154		16,467,840
6.25%, 01/15/28 (Call 01/15/23)^(a)(b)		17,777		15,660,204
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25
(Call 10/03/22)^(a)		382		377,568
RR Donnelley & Sons Co., 6.13%, 11/01/26
(Call 11/01/23)^(a)		716		669,926
Sabre GLBL Inc.
7.38%, 09/01/25 (Call 10/03/22)^(a)(b)		13,077		12,374,111
9.25%, 04/15/25 (Call 03/16/25)^(a)		8,286		8,164,113
Service Corp. International/U.S.
3.38%, 08/15/30 (Call 08/15/25)^(b)		10,468		8,649,185
4.00%, 05/15/31 (Call 05/15/26)^(b)		10,666		9,121,720
4.63%, 12/15/27 (Call 12/15/22)^(b)		7,795		7,309,372
5.13%, 06/01/29 (Call 06/01/24)^(b)		10,378		9,799,285
Sotheby’s, 7.38%, 10/15/27 (Call 10/15/22)^(a)(b)		9,016		8,533,283
United Rentals North America Inc.
3.75%, 01/15/32 (Call 07/15/26)^(b)		11,362		9,472,499
3.88%, 02/15/31 (Call 08/15/25)^(b)		13,021		11,263,165
4.00%, 07/15/30 (Call 07/15/25)^(b)		10,829		9,405,043
4.88%, 01/15/28 (Call 01/15/23)^(b)		22,032		20,620,630
5.25%, 01/15/30 (Call 01/15/25)^(b)		11,069		10,474,041
5.50%, 05/15/27 (Call 10/03/22)^(b)		4,551		4,509,472
Verscend Escrow Corp., 9.75%, 08/15/26
(Call 10/03/22)^(a)		16,476		16,662,179
Williams Scotsman International Inc., 4.63%, 08/15/28
(Call 08/15/23)^(a)(b)		5,689		5,113,273


				529,975,887

Computers — 1.2%
Booz Allen Hamilton Inc.
3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		9,159		8,111,632
4.00%, 07/01/29 (Call 07/01/24)^(a)(b)		7,116		6,328,389
Condor Merger Sub Inc., 7.38%, 02/15/30
(Call 02/15/25)^(a)(b)		26,905		22,471,056
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 10/03/22)^(b)		5,355		3,285,292
9.38%, 07/15/25 (Call 09/16/22)^(a)(b)		9,004		7,408,041
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)^(a)(b)		9,921		3,181,169
NCR Corp.
5.00%, 10/01/28 (Call 10/01/23)^(a)(b)		8,423		7,928,149


Security	Par (000)		Value

Computers (continued)
5.13%, 04/15/29 (Call 04/15/24)^(a)(b)	$	15,981	$	14,910,433
5.25%, 10/01/30 (Call 10/01/25)^(a)(b)		6,680		6,152,280
5.75%, 09/01/27 (Call 09/12/22)^(a)(b)		6,815		6,593,512
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		5,379		5,128,876
Presidio Holdings Inc.
4.88%, 02/01/27 (Call 02/01/23)^(a)(b)		6,090		5,697,865
8.25%, 02/01/28 (Call 02/01/23)^(a)(b)		6,499		5,885,108
Seagate HDD Cayman
3.13%, 07/15/29 (Call 01/15/24)^(b)		7,432		5,911,880
3.38%, 07/15/31 (Call 01/15/26)^(b)		7,464		5,784,600
4.09%, 06/01/29 (Call 03/01/29)		7,403		6,317,403
4.13%, 01/15/31 (Call 10/15/30)		7,092		5,782,927
4.75%, 01/01/25^(b)		5,008		4,891,564
4.88%, 03/01/24 (Call 01/01/24)^(b)		4,639		4,547,554
4.88%, 06/01/27 (Call 03/01/27)^(b)		5,412		5,105,356
Vericast Corp., 11.00%, 09/15/26 (Call 09/15/23)^(a)(b)		16,132		16,132,382


				157,555,468

Cosmetics & Personal Care — 0.3%
Coty Inc.
5.00%, 04/15/26 (Call 04/15/23)^(a)		10,320		9,763,532
6.50%, 04/15/26 (Call 10/03/22)^(a)(b)		8,191		7,822,405
Coty Inc./HFC Prestige Products Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)^(a)		7,437		6,517,638
Edgewell Personal Care Co.
4.13%, 04/01/29 (Call 04/01/24)^(a)(b)		6,450		5,543,646
5.50%, 06/01/28 (Call 06/01/23)^(a)(b)		10,413		9,630,984


				39,278,205

Distribution & Wholesale — 0.3%
American Builders & Contractors Supply Co. Inc.
3.88%, 11/15/29 (Call 11/15/24)^(a)(b)		5,420		4,445,947
4.00%, 01/15/28 (Call 01/15/23)^(a)		9,335		8,440,007
H&E Equipment Services Inc., 3.88%, 12/15/28
(Call 12/15/23)^(a)(b)		16,747		14,155,402
Wesco Aircraft Holdings Inc.
8.50%, 11/15/24 (Call 10/03/22)^(a)		9,609		5,115,190
9.00%, 11/15/26 (Call 11/15/22)^(a)(b)		13,712		8,284,619


				40,441,165

Diversified Financial Services — 3.4%
AerCap Holdings NV, 5.88%, 10/10/79
(Call 10/10/24)^(b)(c)		10,597		9,646,802
AG Issuer LLC, 6.25%, 03/01/28 (Call 03/01/23)^(a)		5,350		4,908,291
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27^(b)		3,810		3,810,000
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)^(b)		14,534		14,701,868
Coinbase Global Inc.
3.38%, 10/01/28 (Call 10/01/24)^(a)(b)		12,937		8,383,463
3.63%, 10/01/31 (Call 10/01/26)^(a)(b)		14,143		8,632,180
Curo Group Holdings Corp., 7.50%, 08/01/28
(Call 08/01/24)^(a)(b)		13,002		7,880,512
Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)^(a)		1,499		1,431,545
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)^(a)(b)		13,913		11,874,745
LD Holdings Group LLC
6.13%, 04/01/28 (Call 04/01/24)^(a)(b)		6,709		3,622,860
6.50%, 11/01/25 (Call 11/01/22)^(a)(b)		7,219		4,150,925
LPL Holdings Inc.
4.00%, 03/15/29 (Call 03/15/24)^(a)(b)		12,397		11,079,819
4.38%, 05/15/31 (Call 05/15/26)^(a)(b)		6,398		5,603,089
4.63%, 11/15/27 (Call 11/15/22)^(a)		4,658		4,328,084


Security	Par (000)		Value

Diversified Financial Services (continued)
Midcap Financial Issuer Trust
5.63%, 01/15/30 (Call 01/15/25)^(a)(b)	$	6,324	$	4,927,187
6.50%, 05/01/28 (Call 05/01/24)^(a)(b)		12,214		10,473,505
Nationstar Mortgage Holdings Inc.
5.13%, 12/15/30 (Call 12/15/25)^(a)(b)		9,211		7,225,937
5.50%, 08/15/28 (Call 08/15/23)^(a)		10,989		9,175,815
5.75%, 11/15/31 (Call 11/15/26)^(a)(b)		8,581		6,811,169
6.00%, 01/15/27 (Call 01/15/23)^(a)(b)		7,660		6,806,283
Navient Corp.
4.88%, 03/15/28 (Call 06/15/27)		8,364		6,802,859
5.00%, 03/15/27 (Call 09/15/26)^(b)		9,212		7,891,536
5.50%, 03/15/29 (Call 06/15/28)		9,228		7,488,591
5.88%, 10/25/24^(b)		5,928		5,708,664
6.13%, 03/25/24^(b)		9,421		9,203,186
6.75%, 06/25/25		8,647		8,316,793
6.75%, 06/15/26^(b)		6,270		5,919,888
7.25%, 09/25/23^(b)		431		431,000
NFP Corp.
4.88%, 08/15/28 (Call 08/15/23)^(a)(b)		7,212		6,382,620
6.88%, 08/15/28 (Call 08/15/23)^(a)(b)		27,897		22,945,282
OneMain Finance Corp.
3.50%, 01/15/27 (Call 01/15/24)^(b)		10,314		8,534,603
3.88%, 09/15/28 (Call 09/15/24)^(b)		8,404		6,580,403
4.00%, 09/15/30 (Call 09/15/25)^(b)		11,703		8,750,918
5.38%, 11/15/29 (Call 05/15/29)^(b)		10,269		8,525,837
6.13%, 03/15/24 (Call 09/15/23)^(b)		15,595		15,204,375
6.63%, 01/15/28 (Call 07/15/27)^(b)		10,076		9,257,325
6.88%, 03/15/25^(b)		17,034		16,410,130
7.13%, 03/15/26^(b)		20,858		19,454,257
PennyMac Financial Services Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)(b)		7,938		6,207,516
5.38%, 10/15/25 (Call 10/15/22)^(a)		8,912		8,154,480
5.75%, 09/15/31 (Call 09/15/26)^(a)		6,997		5,616,186
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)^(b)		520		498,085
4.88%, 03/15/27 (Call 09/15/26)		352		327,969
6.63%, 03/15/25 (Call 09/15/24)		491		490,406
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc.
2.88%, 10/15/26 (Call 10/15/23)^(a)(b)		13,824		11,604,359
3.63%, 03/01/29 (Call 03/01/24)^(a)(b)		11,147		8,912,027
3.88%, 03/01/31 (Call 03/01/26)^(a)(b)		16,468		12,721,530
4.00%, 10/15/33 (Call 10/15/27)^(a)		12,684		9,414,477
SLM Corp.
3.13%, 11/02/26 (Call 10/02/26)^(b)		6,381		5,288,254
4.20%, 10/29/25 (Call 09/29/25)^(b)		7,431		6,827,210
United Wholesale Mortgage LLC
5.50%, 11/15/25 (Call 11/15/22)^(a)(b)		11,147		9,837,227
5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		9,614		7,458,685
5.75%, 06/15/27 (Call 06/15/24)^(a)(b)		6,580		5,474,012
VistaJet Malta Finance PLC/XO Management Holding Inc.
6.38%, 02/01/30 (Call 02/01/25)^(a)(b)		13,680		11,764,800
7.88%, 05/01/27 (Call 05/01/24)^(a)(b)		6,878		6,344,955


				436,224,524

Electric — 2.5%
Calpine Corp.
3.75%, 03/01/31 (Call 03/01/26)^(a)(b)		12,577		10,426,333
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		18,594		17,013,510
4.63%, 02/01/29 (Call 02/01/24)^(a)(b)		9,695		8,244,992
5.00%, 02/01/31 (Call 02/01/26)^(a)(b)		10,911		9,110,685


Security	Par (000)		Value

Electric (continued)
5.13%, 03/15/28 (Call 03/15/23)^(a)(b)	$	18,165	$	16,189,876
5.25%, 06/01/26 (Call 10/03/22)^(a)(b)		3,831		3,716,070
Clearway Energy Operating LLC
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		12,576		10,502,985
4.75%, 03/15/28 (Call 03/15/23)^(a)(b)		11,322		10,529,460
DPL Inc.
4.13%, 07/01/25 (Call 04/01/25)		6,555		6,186,281
4.35%, 04/15/29 (Call 01/15/29)^(b)		4,729		4,161,993
Electricite de France SA
5.25%, (Call 01/29/23)^(a)(c)(d)		440		424,102
5.63%, (Call 01/22/24)^(a)(b)(c)(d)		19,002		17,761,692
Emera Inc., Series 16-A, 6.75%, 06/15/76
(Call 06/15/26)^(b)(c)		17,128		17,383,721
FirstEnergy Corp.
2.65%, 03/01/30 (Call 12/01/29)^(b)		7,651		6,550,854
Series B, 2.25%, 09/01/30 (Call 06/01/30)^(b)		5,491		4,493,857
Series B, 4.40%, 07/15/27 (Call 04/15/27)^(b)		20,463		19,623,812
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)(b)		7,082		6,594,817
4.25%, 07/15/24 (Call 04/15/24)^(a)(b)		8,901		8,620,022
4.25%, 09/15/24 (Call 07/15/24)^(a)		718		691,833
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		7,897		7,304,725
NRG Energy Inc.
3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		6,307		5,193,726
3.63%, 02/15/31 (Call 02/15/26)^(a)(b)		13,477		10,721,627
3.88%, 02/15/32 (Call 02/15/27)^(a)(b)		15,023		11,868,471
5.25%, 06/15/29 (Call 06/15/24)^(a)(b)		9,582		8,577,806
5.75%, 01/15/28 (Call 01/15/23)^(b)		10,454		9,851,850
PG&E Corp.
5.00%, 07/01/28 (Call 07/01/23)^(b)		12,933		11,452,560
5.25%, 07/01/30 (Call 07/01/25)^(b)		14,087		12,178,212
Vistra Operations Co. LLC
4.38%, 05/01/29 (Call 05/01/24)^(a)		14,979		12,990,644
5.00%, 07/31/27 (Call 09/12/22)^(a)(b)		18,761		17,471,181
5.50%, 09/01/26 (Call 09/12/22)^(a)(b)		14,154		13,641,431
5.63%, 02/15/27 (Call 09/12/22)^(a)(b)		18,017		17,397,576


				316,876,704

Electrical Components & Equipment — 0.4%
Energizer Holdings Inc.
4.38%, 03/31/29 (Call 09/30/23)^(a)(b)		10,274		8,359,440
4.75%, 06/15/28 (Call 06/15/23)^(a)(b)		8,550		7,150,023
WESCO Distribution Inc.
7.13%, 06/15/25 (Call 10/03/22)^(a)(b)		20,168		20,192,774
7.25%, 06/15/28 (Call 06/15/23)^(a)(b)		17,423		17,567,263


				53,269,500

Electronics — 0.6%
Imola Merger Corp., 4.75%, 05/15/29
(Call 05/15/24)^(a)(b)		26,970		22,861,471
Sensata Technologies BV
4.00%, 04/15/29 (Call 04/15/24)^(a)(b)		13,316		11,516,209
4.88%, 10/15/23^(a)		2,953		2,972,564
5.00%, 10/01/25^(a)(b)		8,865		8,705,962
5.63%, 11/01/24^(a)(b)		4,495		4,511,533
5.88%, 09/01/30^(b)		7,570		7,399,675
Sensata Technologies Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		10,372		8,555,748
4.38%, 02/15/30 (Call 11/15/29)^(a)(b)		5,995		5,320,562


				71,843,724


Security	Par (000)		Value

Energy - Alternate Sources — 0.1%
TerraForm Power Operating LLC
4.75%, 01/15/30 (Call 01/15/25)^(a)(b)	$	10,523	$	9,309,648
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		7,620		7,009,860


				16,319,508

Engineering & Construction — 0.1%
Brand Industrial Services Inc., 8.50%, 07/15/25
(Call 10/03/22)^(a)(b)		13,304		10,776,240


Entertainment — 3.0%
AMC Entertainment Holdings Inc., 7.50%, 02/15/29
(Call 02/15/25)^(a)(b)		12,194		10,486,840
Caesars Entertainment Inc.
4.63%, 10/15/29 (Call 10/15/24)^(a)(b)		14,939		12,034,858
6.25%, 07/01/25 (Call 09/12/22)^(a)		46,811		45,767,115
8.13%, 07/01/27 (Call 07/01/23)^(a)(b)		23,359		22,979,416
Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 09/12/22)^(a)(b)		13,111		12,865,169
CDI Escrow Issuer Inc., 5.75%, 04/01/30
(Call 04/01/25)^(a)(b)		15,686		14,478,178
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(b)		6,910		6,243,876
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 10/03/22)^(b)		5,642		5,310,702
5.50%, 05/01/25 (Call 10/03/22)^(a)		12,626		12,420,827
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		10,087		9,137,645
5.50%, 04/01/27 (Call 10/03/22)^(a)(b)		6,513		6,242,651
Cinemark USA Inc.
5.25%, 07/15/28 (Call 07/15/24)^(a)(b)		9,408		7,632,240
5.88%, 03/15/26 (Call 03/15/23)^(a)(b)		6,227		5,524,594
International Game Technology PLC
4.13%, 04/15/26 (Call 04/15/23)^(a)(b)		9,787		8,912,532
5.25%, 01/15/29 (Call 01/15/24)^(a)(b)		10,871		10,161,993
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		8,522		8,323,693
6.50%, 02/15/25 (Call 08/15/24)^(a)		14,631		14,521,267
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29
(Call 04/15/24)^(a)(b)		10,765		8,520,497
Live Nation Entertainment Inc.
3.75%, 01/15/28 (Call 01/15/24)^(a)(b)		6,348		5,571,767
4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		12,158		11,082,017
4.88%, 11/01/24 (Call 10/03/22)^(a)(b)		6,038		5,887,654
6.50%, 05/15/27 (Call 05/15/23)^(a)(b)		15,091		15,015,545
Mohegan Gaming & Entertainment
7.88%, 10/15/24 (Call 09/16/22)^(a)(b)		2,038		2,075,799
8.00%, 02/01/26 (Call 02/01/23)^(a)		15,591		13,594,183
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.
5.63%, 09/01/29 (Call 09/01/24)^(a)(b)		10,361		7,616,371
5.88%, 09/01/31 (Call 09/01/26)^(a)(b)		9,904		6,926,659
Resorts World Las Vegas LLC/RWLV Capital Inc.,
4.63%, 04/16/29 (Call 01/16/29)^(a)		13,329		10,926,933
Scientific Games International Inc.
7.00%, 05/15/28 (Call 05/15/23)^(a)(b)		9,527		9,316,453
7.25%, 11/15/29 (Call 11/15/24)^(a)(b)		6,938		6,833,930
8.63%, 07/01/25 (Call 10/03/22)^(a)		5,010		5,147,650
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 10/03/22)^(a)(b)		8,520		8,157,885
5.50%, 04/15/27 (Call 10/03/22)^(a)(b)		7,594		6,959,901
Six Flags Theme Parks Inc., 7.00%, 07/01/25
(Call 10/03/22)^(a)(b)		2,938		2,959,154


Security	Par (000)		Value

Entertainment (continued)
WMG Acquisition Corp.
3.00%, 02/15/31 (Call 02/15/26)^(a)(b)	$	10,458	$	8,301,037
3.75%, 12/01/29 (Call 12/01/24)^(a)(b)		5,246		4,455,795
3.88%, 07/15/30 (Call 07/15/25)^(a)(b)		7,839		6,741,540
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.13%, 10/01/29 (Call 07/01/29)^(a)(b)		9,277		7,778,301
7.75%, 04/15/25 (Call 10/03/22)^(a)(b)		8,226		8,194,803


				375,107,470

Environmental Control — 0.8%
Covanta Holding Corp.
4.88%, 12/01/29 (Call 12/01/24)^(a)(b)		9,509		8,014,432
5.00%, 09/01/30 (Call 09/01/25)^(b)		6,139		5,187,455
GFL Environmental Inc.
3.50%, 09/01/28 (Call 03/01/28)^(a)(b)		9,992		8,680,550
3.75%, 08/01/25 (Call 10/03/22)^(a)(b)		8,783		8,250,579
4.00%, 08/01/28 (Call 08/01/23)^(a)(b)		10,127		8,600,057
4.25%, 06/01/25 (Call 10/03/22)^(a)(b)		4,364		4,168,711
4.38%, 08/15/29 (Call 08/15/24)^(a)(b)		7,776		6,560,767
4.75%, 06/15/29 (Call 06/15/24)^(a)(b)		9,898		8,624,089
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		5,412		5,225,334
Madison IAQ LLC
4.13%, 06/30/28 (Call 06/30/24)^(a)(b)		10,064		8,636,982
5.88%, 06/30/29 (Call 06/30/24)^(a)(b)		13,223		10,834,662
Stericycle Inc.
3.88%, 01/15/29 (Call 11/15/23)^(a)(b)		7,941		6,878,789
5.38%, 07/15/24 (Call 09/16/22)^(a)		7,119		6,924,113


				96,586,520

Food — 2.1%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.25%, 03/15/26 (Call 10/03/22)^(a)(b)		10,128		9,077,284
3.50%, 03/15/29 (Call 09/15/23)^(a)		19,360		15,856,945
4.63%, 01/15/27 (Call 01/15/23)^(a)(b)		16,974		15,427,499
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		13,333		11,684,708
5.88%, 02/15/28 (Call 10/03/22)^(a)(b)		10,742		10,235,112
7.50%, 03/15/26 (Call 10/03/22)^(a)(b)		7,125		7,287,806
B&G Foods Inc.
5.25%, 04/01/25 (Call 10/03/22)^(b)		13,104		11,695,320
5.25%, 09/15/27 (Call 10/03/22)^(b)		5,995		5,005,825
Lamb Weston Holdings Inc.
4.13%, 01/31/30 (Call 01/31/25)^(a)(b)		12,541		11,302,576
4.38%, 01/31/32 (Call 01/31/27)^(a)(b)		10,103		8,967,495
4.88%, 05/15/28 (Call 11/15/27)^(a)(b)		5,882		5,612,374
Performance Food Group Inc.
4.25%, 08/01/29 (Call 08/01/24)^(a)(b)		12,590		10,795,925
5.50%, 10/15/27 (Call 10/15/22)^(a)(b)		14,924		14,065,870
Pilgrim’s Pride Corp.
3.50%, 03/01/32 (Call 09/01/26)^(a)(b)		12,626		10,274,407
4.25%, 04/15/31 (Call 04/15/26)^(a)		13,870		11,948,728
5.88%, 09/30/27 (Call 10/03/22)^(a)(b)		9,423		9,281,655
Post Holdings Inc.
4.50%, 09/15/31 (Call 09/15/26)^(a)(b)		16,768		14,266,214
4.63%, 04/15/30 (Call 04/15/25)^(a)(b)		21,740		18,907,061
5.50%, 12/15/29 (Call 12/15/24)^(a)(b)		15,516		14,178,831
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		14,474		13,750,300
5.75%, 03/01/27 (Call 09/16/22)^(a)(b)		4,182		4,082,358
U.S. Foods Inc.
4.63%, 06/01/30 (Call 06/01/25)^(a)(b)		7,085		6,110,813


Security	Par (000)		Value

Food (continued)
4.75%, 02/15/29 (Call 02/15/24)^(a)(b)	$	13,160	$	11,684,435
6.25%, 04/15/25 (Call 10/03/22)^(a)		12,173		12,249,081


				263,748,622

Food Service — 0.4%
Aramark Services Inc.
5.00%, 04/01/25 (Call 10/03/22)^(a)		5,299		5,149,419
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		16,413		15,097,498
6.38%, 05/01/25 (Call 10/03/22)^(a)(b)		19,334		19,130,800
TKC Holdings Inc.
6.88%, 05/15/28 (Call 05/15/24)^(a)(b)		5,129		4,321,182
10.50%, 05/15/29 (Call 05/15/24)^(a)(b)		9,412		7,538,071


				51,236,970

Forest Products & Paper — 0.1%
Mercer International Inc., 5.13%, 02/01/29
(Call 02/01/24)^(b)		12,103		10,566,524


Gas — 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)^(b)		8,686		8,223,616
5.63%, 05/20/24 (Call 03/20/24)^(b)		7,351		7,259,112
5.75%, 05/20/27 (Call 02/20/27)^(b)		7,606		7,145,837
5.88%, 08/20/26 (Call 05/20/26)^(b)		10,198		9,706,864


				32,335,429

Health Care - Products — 1.1%
Avantor Funding Inc.
3.88%, 11/01/29 (Call 11/01/24)^(a)(b)		9,396		8,117,968
4.63%, 07/15/28 (Call 07/15/23)^(a)(b)		21,170		19,292,221
Hologic Inc.
3.25%, 02/15/29 (Call 09/28/23)^(a)(b)		11,395		9,728,481
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		6,931		6,552,394
Mozart Debt Merger Sub Inc.
3.88%, 04/01/29 (Call 10/01/24)^(a)		62,099		52,628,902
5.25%, 10/01/29 (Call 10/01/24)^(a)(b)		33,048		27,659,524
Teleflex Inc.
4.25%, 06/01/28 (Call 06/01/23)^(a)(b)		5,646		5,120,019
4.63%, 11/15/27 (Call 11/15/22)^(b)		8,652		8,109,808


				137,209,317

Health Care - Services — 5.7%
Catalent Pharma Solutions Inc.
3.13%, 02/15/29 (Call 02/15/24)^(a)(b)		7,583		6,229,453
3.50%, 04/01/30 (Call 04/01/25)^(a)		8,098		6,670,728
5.00%, 07/15/27 (Call 10/03/22)^(a)(b)		5,849		5,527,656
Centene Corp.
2.45%, 07/15/28 (Call 05/15/28)^(b)		31,206		26,281,915
2.50%, 03/01/31 (Call 12/01/30)^(b)		29,361		23,231,891
2.63%, 08/01/31 (Call 05/01/31)		17,010		13,529,754
3.00%, 10/15/30 (Call 07/15/30)		28,943		24,118,202
3.38%, 02/15/30 (Call 02/15/25)		26,460		22,689,450
4.25%, 12/15/27 (Call 12/15/22)^(b)		33,998		32,170,607
4.63%, 12/15/29 (Call 12/15/24)^(b)		49,121		45,977,256
Charles River Laboratories International Inc.
3.75%, 03/15/29 (Call 03/15/24)^(a)		5,368		4,616,480
4.00%, 03/15/31 (Call 03/15/26)^(a)(b)		6,684		5,652,325
4.25%, 05/01/28 (Call 05/01/23)^(a)(b)		7,801		7,179,260
CHS/Community Health Systems Inc.
4.75%, 02/15/31 (Call 02/15/26)^(a)(b)		15,001		11,096,240
5.25%, 05/15/30 (Call 05/15/25)^(a)(b)		21,092		16,003,555
5.63%, 03/15/27 (Call 12/15/23)^(a)(b)		25,088		21,204,378
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		13,068		10,737,043


Security	Par (000)		Value

Health Care - Services (continued)
6.13%, 04/01/30 (Call 04/01/25)^(a)(b)	$	18,903	$	11,719,860
6.88%, 04/01/28 (Call 04/01/23)^(a)(b)		10,036		5,277,263
6.88%, 04/15/29 (Call 04/15/24)^(a)		24,000		15,000,000
8.00%, 03/15/26 (Call 10/03/22)^(a)(b)		27,918		26,040,515
8.00%, 12/15/27 (Call 12/15/22)^(a)(b)		9,056		7,876,003
DaVita Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)		19,299		14,143,465
4.63%, 06/01/30 (Call 06/01/25)^(a)(b)		36,971		29,294,896
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)^(b)		11,548		10,111,366
4.63%, 04/01/31 (Call 04/01/26)^(b)		5,558		4,603,890
4.75%, 02/01/30 (Call 02/01/25)^(b)		9,785		8,349,331
HCA Inc.
5.38%, 02/01/25^(b)		255		257,241
5.88%, 02/15/26 (Call 08/15/25)^(b)		433		442,136
IQVIA Inc.
5.00%, 10/15/26 (Call 10/03/22)^(a)(b)		13,548		13,142,237
5.00%, 05/15/27 (Call 10/03/22)^(a)(b)		13,369		12,860,719
Legacy LifePoint Health LLC
4.38%, 02/15/27 (Call 10/03/22)^(a)(b)		9,427		8,151,998
6.75%, 04/15/25 (Call 10/03/22)^(a)(b)		7,743		7,617,176
Lifepoint Health Inc., 5.38%, 01/15/29
(Call 01/15/24)^(a)(b)		6,747		5,110,853
ModivCare Escrow Issuer Inc., 5.00%, 10/01/29
(Call 10/01/24)^(a)		6,329		5,530,059
ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/22)^(a)(b)		6,449		6,091,377
Molina Healthcare Inc.
3.88%, 11/15/30 (Call 08/17/30)^(a)(b)		7,418		6,420,650
3.88%, 05/15/32 (Call 02/15/32)^(a)(b)		9,898		8,484,368
4.38%, 06/15/28 (Call 06/15/23)^(a)(b)		10,930		10,082,925
Radiology Partners Inc., 9.25%, 02/01/28
(Call 02/01/23)^(a)(b)		9,830		7,539,364
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 10/03/22)^(a)(b)		19,025		18,168,875
RP Escrow Issuer LLC, 5.25%, 12/15/25
(Call 12/15/22)^(a)(b)		11,435		10,273,813
Select Medical Corp., 6.25%, 08/15/26
(Call 10/03/22)^(a)(b)		14,737		14,088,498
Tenet Healthcare Corp.
4.25%, 06/01/29 (Call 06/01/24)^(a)		17,128		14,784,033
4.38%, 01/15/30 (Call 12/01/24)^(a)(b)		18,907		16,543,625
4.63%, 07/15/24 (Call 10/03/22)^(b)		8,700		8,475,431
4.63%, 09/01/24 (Call 09/16/22)^(a)(b)		7,180		6,994,286
4.63%, 06/15/28 (Call 06/15/23)^(a)(b)		7,703		6,998,176
4.88%, 01/01/26 (Call 10/03/22)^(a)		29,757		28,269,150
5.13%, 11/01/27 (Call 11/01/22)^(a)		21,187		19,492,040
6.13%, 10/01/28 (Call 10/01/23)^(a)(b)		33,285		30,469,645
6.13%, 06/15/30 (Call 06/15/25)^(a)		26,713		25,677,871
6.25%, 02/01/27 (Call 10/03/22)^(a)(b)		21,434		20,534,269


				727,833,597

Holding Companies - Diversified — 0.6%
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)^(a)(b)		14,099		12,009,618
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.38%, 02/01/29 (Call 08/01/28)^(b)		10,279		8,721,809
4.75%, 09/15/24 (Call 06/15/24)		12,711		12,070,922
5.25%, 05/15/27 (Call 11/15/26)		20,332		18,370,979
6.25%, 05/15/26 (Call 10/03/22)^(b)		17,706		17,004,488


Security	Par (000)		Value

Holding Companies - Diversified (continued)
6.38%, 12/15/25 (Call 10/03/22)^(b)	$	8,780	$	8,533,282


				76,711,098

Home Builders — 0.6%
Ashton Woods USA LLC/Ashton Woods Finance Co.,
4.63%, 04/01/30 (Call 04/01/25)^(a)		5,240		4,136,980
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC
4.88%, 02/15/30 (Call 02/15/25)^(a)		8,131		6,281,198
6.25%, 09/15/27 (Call 10/03/22)^(a)(b)		6,770		6,019,546
Century Communities Inc.
3.88%, 08/15/29 (Call 02/15/29)^(a)(b)		6,765		5,414,706
6.75%, 06/01/27 (Call 10/03/22)^(b)		6,522		6,407,865
Mattamy Group Corp.
4.63%, 03/01/30 (Call 03/01/25)^(a)(b)		8,285		6,702,119
5.25%, 12/15/27 (Call 12/15/22)^(a)(b)		7,014		6,172,495
Meritage Homes Corp.
3.88%, 04/15/29 (Call 10/15/28)^(a)(b)		6,252		5,289,505
6.00%, 06/01/25 (Call 03/01/25)^(b)		6,404		6,389,911
Picasso Finance Sub Inc., 6.13%, 06/15/25
(Call 09/16/22)^(a)(b)		6,138		6,149,478
Taylor Morrison Communities Inc.
5.13%, 08/01/30 (Call 02/01/30)^(a)		7,696		6,580,773
5.75%, 01/15/28 (Call 10/15/27)^(a)(b)		5,683		5,201,585
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		6,867		6,605,367
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(b)		5,044		4,972,924


				82,324,452

Home Furnishings — 0.1%
Tempur Sealy International Inc.
3.88%, 10/15/31 (Call 10/15/26)^(a)		11,555		8,841,968
4.00%, 04/15/29 (Call 04/15/24)^(a)(b)		9,545		7,852,862


				16,694,830

Household Products & Wares — 0.3%
Central Garden & Pet Co.
4.13%, 10/15/30 (Call 10/15/25)^(b)		7,264		6,044,574
4.13%, 04/30/31 (Call 04/30/26)^(a)(b)		4,728		3,881,537
Kronos Acquisition Holdings Inc./KIK Custom Products Inc.
5.00%, 12/31/26 (Call 06/30/23)^(a)(b)		6,788		6,143,140
7.00%, 12/31/27 (Call 12/31/23)^(a)(b)		6,715		5,539,875
Spectrum Brands Inc.
3.88%, 03/15/31 (Call 03/15/26)^(a)(b)		7,230		5,584,452
5.75%, 07/15/25 (Call 10/03/22)^(b)		6,182		6,077,768


				33,271,346

Housewares — 0.4%
Newell Brands Inc.
4.45%, 04/01/26 (Call 01/01/26)		27,510		25,908,093
4.88%, 06/01/25 (Call 05/01/25)^(b)		4,996		4,906,072
Scotts Miracle-Gro Co. (The)
4.00%, 04/01/31 (Call 04/01/26)^(b)		6,370		4,788,329
4.38%, 02/01/32 (Call 08/01/26)^(b)		5,538		4,181,190
4.50%, 10/15/29 (Call 10/15/24)^(b)		6,006		4,819,815


				44,603,499

Insurance — 1.0%
Acrisure LLC/Acrisure Finance Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)(b)		8,124		6,900,860
6.00%, 08/01/29 (Call 08/01/24)^(a)(b)		6,472		5,262,592
7.00%, 11/15/25 (Call 10/03/22)^(a)(b)		11,514		10,855,169
10.13%, 08/01/26 (Call 10/03/22)^(a)(b)		6,846		6,853,311


Security	Par (000)		Value

Insurance (continued)
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.25%, 10/15/27 (Call 10/15/23)^(a)(b)	$	10,042	$	9,070,185
5.88%, 11/01/29 (Call 11/01/24)^(a)(b)		6,106		5,260,319
6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		17,648		16,059,680
AssuredPartners Inc.
5.63%, 01/15/29 (Call 12/15/23)^(a)(b)		8,073		6,716,448
7.00%, 08/15/25 (Call 10/03/22)^(a)(b)		5,490		5,282,478
Enstar Finance LLC, 5.50%, 01/15/42 (Call 01/15/27)^(c)		5,640		4,787,627
Global Atlantic Fin Co., 4.70%, 10/15/51
(Call 07/15/26)^(a)(b)(c)		10,262		8,484,556
GTCR AP Finance Inc., 8.00%, 05/15/27
(Call 10/03/22)^(a)(b)		4,725		4,583,587
HUB International Ltd.
5.63%, 12/01/29 (Call 12/01/24)^(a)(b)		8,145		7,131,110
7.00%, 05/01/26 (Call 09/12/22)^(a)(b)		20,806		20,415,887
Liberty Mutual Group Inc.
4.13%, 12/15/51 (Call 09/15/26)^(a)(b)(c)		6,809		5,675,356
4.30%, 02/01/61 (Call 02/01/26)^(a)		10,909		7,247,667


				130,586,832

Internet — 1.5%
Arches Buyer Inc.
4.25%, 06/01/28 (Call 12/01/23)^(a)		13,360		10,754,800
6.13%, 12/01/28 (Call 12/01/23)^(a)(b)		6,028		4,715,102
Go Daddy Operating Co. LLC/GD Finance Co. Inc.
3.50%, 03/01/29 (Call 03/01/24)^(a)(b)		9,419		7,955,099
5.25%, 12/01/27 (Call 10/03/22)^(a)(b)		8,137		7,684,545
Match Group Holdings II LLC
3.63%, 10/01/31 (Call 10/01/26)^(a)		6,259		4,923,955
4.13%, 08/01/30 (Call 05/01/25)^(a)(b)		7,049		5,838,840
4.63%, 06/01/28 (Call 06/01/23)^(a)(b)		5,581		5,046,340
5.00%, 12/15/27 (Call 12/15/22)^(a)(b)		6,586		6,075,585
NortonLifeLock Inc., 5.00%, 04/15/25
(Call 09/12/22)^(a)(b)		13,224		12,985,943
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26
(Call 10/03/22)^(a)		10,476		7,768,391
Rakuten Group Inc.
5.13%, (Call 04/22/26)^(a)(b)(c)(d)		10,212		8,214,930
6.25%, (Call 04/22/31)^(a)(b)(c)(d)		13,146		10,493,073
Twitter Inc.
3.88%, 12/15/27 (Call 09/15/27)^(a)(b)		8,352		7,750,405
5.00%, 03/01/30 (Call 12/01/29)^(a)(b)		13,357		12,597,321
Uber Technologies Inc.
4.50%, 08/15/29 (Call 08/15/24)^(a)(b)		20,241		17,457,863
6.25%, 01/15/28 (Call 09/15/23)^(a)(b)		5,200		4,983,784
7.50%, 05/15/25 (Call 10/03/22)^(a)(b)		12,020		12,126,355
7.50%, 09/15/27 (Call 10/03/22)^(a)(b)		16,765		16,790,986
8.00%, 11/01/26 (Call 10/03/22)^(a)(b)		21,155		21,404,403


				185,567,720

Iron & Steel — 0.4%
Cleveland-Cliffs Inc.
4.63%, 03/01/29 (Call 03/01/24)^(a)(b)		2,217		1,971,744
4.88%, 03/01/31 (Call 03/01/26)^(a)(b)		2,760		2,394,300
5.88%, 06/01/27 (Call 10/03/22)^(b)		5,974		5,720,105
6.75%, 03/15/26 (Call 10/03/22)^(a)(b)		10,407		10,524,079
Mineral Resources Ltd.
8.00%, 11/01/27 (Call 11/01/24)^(a)(b)		7,513		7,514,421
8.13%, 05/01/27 (Call 10/03/22)^(a)		8,885		8,910,068
8.50%, 05/01/30 (Call 05/01/25)^(a)(b)		9,644		9,716,330


Security	Par (000)		Value

Iron & Steel (continued)
U.S. Steel Corp., 6.88%, 03/01/29 (Call 03/01/24)^(b)	$	10,754	$	10,425,035


			57,176,082

Leisure Time — 0.7%
Life Time Inc.
5.75%, 01/15/26 (Call 01/15/23)^(a)(b)		13,708		12,200,600
8.00%, 04/15/26 (Call 02/01/23)^(a)(b)		5,718		5,047,450
NCL Corp. Ltd.
3.63%, 12/15/24 (Call 09/12/22)^(a)(b)		8,433		7,323,085
5.88%, 03/15/26 (Call 12/15/25)^(a)(b)		19,403		15,740,684
5.88%, 02/15/27 (Call 02/15/24)^(a)		12,121		11,005,868
7.75%, 02/15/29 (Call 11/15/28)^(a)(b)		8,472		6,863,732
NCL Finance Ltd., 6.13%, 03/15/28 (Call 12/15/27)^(a)		6,323		4,900,325
Viking Cruises Ltd.
5.88%, 09/15/27 (Call 10/03/22)^(a)(b)		10,633		8,562,436
7.00%, 02/15/29 (Call 02/15/24)^(a)(b)		7,673		6,138,400
13.00%, 05/15/25 (Call 09/16/22)^(a)(b)		8,184		8,584,861
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)(b)		8,059		6,809,855


			93,177,296

Lodging — 3.1%
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)^(b)		12,573		11,709,109
4.75%, 06/15/31 (Call 06/15/26)^(a)(b)		12,017		10,441,772
Hilton Domestic Operating Co. Inc.
3.63%, 02/15/32 (Call 08/15/26)^(a)		19,512		15,759,842
3.75%, 05/01/29 (Call 05/01/24)^(a)(b)		11,446		9,843,560
4.00%, 05/01/31 (Call 05/01/26)^(a)(b)		14,910		12,535,832
4.88%, 01/15/30 (Call 01/15/25)^(b)		13,957		12,772,190
5.38%, 05/01/25 (Call 09/12/22)^(a)(b)		4,903		4,838,986
5.75%, 05/01/28 (Call 05/01/23)^(a)(b)		6,725		6,566,809
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc
4.88%, 07/01/31 (Call 07/01/26)^(a)		7,036		5,808,218
5.00%, 06/01/29 (Call 06/01/24)^(a)(b)		10,696		9,465,960
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 09/16/22)^(b)		9,476		9,049,580
Las Vegas Sands Corp.
2.90%, 06/25/25 (Call 05/25/25)^(b)		4,745		4,368,366
3.20%, 08/08/24 (Call 07/08/24)		22,254		21,002,213
3.50%, 08/18/26 (Call 06/18/26)		11,546		10,387,936
3.90%, 08/08/29 (Call 05/08/29)^(b)		10,305		8,730,396
Marriott Ownership Resorts Inc., 4.50%, 06/15/29
(Call 06/15/24)^(a)		5,688		4,776,214
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 10/03/22)^(a)(b)		13,010		9,914,571
5.25%, 04/26/26 (Call 10/03/22)^(a)(b)		6,139		4,513,393
5.38%, 12/04/29 (Call 12/04/24)^(a)(b)		16,149		10,438,893
5.63%, 07/17/27 (Call 10/03/22)^(a)		8,000		5,671,422
5.75%, 07/21/28 (Call 07/21/23)^(a)		10,979		7,366,704
MGM China Holdings Ltd.
4.75%, 02/01/27 (Call 02/01/24)^(a)		11,562		9,074,233
5.25%, 06/18/25 (Call 09/12/22)^(a)(b)		6,048		5,097,406
5.38%, 05/15/24 (Call 09/12/22)^(a)(b)		8,878		7,864,192
5.88%, 05/15/26 (Call 09/12/22)^(a)(b)		10,281		8,589,647
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		6,327		5,742,259
4.75%, 10/15/28 (Call 07/15/28)^(b)		9,394		8,221,981
5.50%, 04/15/27 (Call 01/15/27)		8,417		7,765,524
5.75%, 06/15/25 (Call 03/15/25)^(b)		7,254		7,057,344
6.75%, 05/01/25 (Call 10/03/22)^(b)		11,397		11,387,105


Security	Par (000)		Value

Lodging (continued)
Station Casinos LLC
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)	$	7,454	$	6,390,594
4.63%, 12/01/31 (Call 06/01/31)^(a)(b)		7,456		6,169,840
Studio City Finance Ltd.
5.00%, 01/15/29 (Call 01/15/24)^(a)(b)		15,314		8,130,968
6.00%, 07/15/25 (Call 10/03/22)^(a)(b)		6,465		4,171,331
6.50%, 01/15/28 (Call 07/15/23)^(a)(b)		6,856		3,823,831
Travel + Leisure Co.
4.50%, 12/01/29 (Call 09/01/29)^(a)(b)		8,066		6,557,658
6.00%, 04/01/27 (Call 01/01/27)		6,536		6,280,952
6.63%, 07/31/26 (Call 04/30/26)^(a)		7,525		7,307,979
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		10,999		9,929,347
5.50%, 03/01/25 (Call 12/01/24)^(a)(b)		25,216		24,144,320
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 09/12/22)^(a)(b)		8,203		6,581,204
5.13%, 12/15/29 (Call 12/15/24)^(a)(b)		14,065		9,780,801
5.50%, 01/15/26 (Call 10/03/22)^(a)(b)		13,006		9,913,731
5.50%, 10/01/27 (Call 10/03/22)^(a)(b)		9,828		7,051,590
5.63%, 08/26/28 (Call 08/26/23)^(a)(b)		18,760		13,132,000


				396,127,803

Machinery — 0.2%
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 10/03/22)^(a)(b)		8,610		7,835,100
TK Elevator Holdco GmbH, 7.63%, 07/15/28
(Call 07/15/23)^(a)(b)		5,217		4,669,215
TK Elevator U.S. Newco Inc., 5.25%, 07/15/27
(Call 07/15/23)^(a)(b)		21,225		19,112,264


				31,616,579

Manufacturing — 0.2%
FXI Holdings Inc.
7.88%, 11/01/24 (Call 10/03/22)^(a)(b)		7,646		6,346,180
12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		10,606		8,869,268
Hillenbrand Inc., 5.75%, 06/15/25 (Call 10/03/22)^(b)		4,445		4,450,556


				19,666,004

Media — 10.0%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)^(a)(b)		15,438		12,466,407
5.75%, 08/15/29 (Call 08/15/24)^(a)		27,387		21,834,286
AMC Networks Inc.
4.25%, 02/15/29 (Call 02/15/24)^(b)		12,256		9,997,526
4.75%, 08/01/25 (Call 10/03/22)^(b)		12,473		11,571,203
5.00%, 04/01/24 (Call 10/03/22)		3,983		3,882,501
Audacy Capital Corp.
6.50%, 05/01/27 (Call 09/16/22)^(a)(b)		6,831		2,279,846
6.75%, 03/31/29 (Call 03/31/24)^(a)(b)		7,423		2,416,187
CCO Holdings LLC/CCO Holdings Capital Corp.
4.25%, 02/01/31 (Call 07/01/25)^(a)(b)		41,655		33,950,729
4.25%, 01/15/34 (Call 01/15/28)^(a)(b)		26,738		20,390,666
4.50%, 08/15/30 (Call 02/15/25)^(a)(b)		36,973		31,138,661
4.50%, 05/01/32 (Call 05/01/26)^(b)		39,578		32,116,755
4.50%, 06/01/33 (Call 06/01/27)^(a)(b)		23,092		18,132,993
4.75%, 03/01/30 (Call 09/01/24)^(a)(b)		41,557		35,728,631
4.75%, 02/01/32 (Call 02/01/27)^(a)(b)		16,058		13,283,178
5.00%, 02/01/28 (Call 09/16/22)^(a)(b)		34,845		31,883,175
5.13%, 05/01/27 (Call 10/03/22)^(a)(b)		45,758		43,492,979
5.38%, 06/01/29 (Call 06/01/24)^(a)(b)		19,700		18,019,590
5.50%, 05/01/26 (Call 10/03/22)^(a)(b)		9,631		9,491,902
6.38%, 09/01/29		7,900		7,672,875


Security	Par (000)		Value

Media (continued)
CSC Holdings LLC
3.38%, 02/15/31 (Call 02/15/26)^(a)(b)	$	13,773	$	10,319,420
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		15,228		12,334,680
4.50%, 11/15/31 (Call 11/15/26)^(a)(b)		19,464		15,717,180
4.63%, 12/01/30 (Call 12/01/25)^(a)(b)		30,765		21,996,975
5.00%, 11/15/31 (Call 11/15/26)^(a)(b)		7,295		5,220,093
5.25%, 06/01/24^(b)		8,582		8,281,959
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		13,644		12,343,727
5.50%, 04/15/27 (Call 10/03/22)^(a)(b)		18,670		17,689,825
5.75%, 01/15/30 (Call 01/15/25)^(a)(b)		29,777		23,054,842
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		23,296		21,463,770
7.50%, 04/01/28 (Call 04/01/23)^(a)(b)		13,942		12,344,480
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 09/16/22)^(a)(b)		35,705		6,744,317
6.63%, 08/15/27 (Call 09/16/22)^(a)		15,954		1,455,803
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)^(a)		49,680		45,457,200
DISH DBS Corp.
5.25%, 12/01/26 (Call 06/01/26)^(a)(b)		37,361		30,939,578
5.75%, 12/01/28 (Call 12/01/27)^(a)		33,267		25,566,245
5.88%, 11/15/24^(b)		27,225		24,706,687
7.38%, 07/01/28 (Call 07/01/23)^(b)		13,280		8,698,400
7.75%, 07/01/26^(b)		26,652		20,996,312
5.13%, 06/01/29^(b)		20,314		12,036,045
Gray Escrow II Inc., 5.38%, 11/15/31
(Call 11/15/26)^(a)(b)		17,059		14,443,855
Gray Television Inc.
4.75%, 10/15/30 (Call 10/15/25)^(a)(b)		9,453		7,698,334
5.88%, 07/15/26 (Call 10/03/22)^(a)(b)		8,942		8,587,425
7.00%, 05/15/27 (Call 09/12/22)^(a)(b)		11,626		11,467,421
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		7,112		6,098,896
5.25%, 08/15/27 (Call 09/16/22)^(a)(b)		10,757		9,682,357
6.38%, 05/01/26 (Call 09/16/22)^(b)		10,884		10,298,107
8.38%, 05/01/27 (Call 09/16/22)^(b)		16,827		14,820,759
LCPR Senior Secured Financing DAC
5.13%, 07/15/29 (Call 07/15/24)^(a)(b)		10,125		8,667,000
6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		15,721		14,790,317
McGraw-Hill Education Inc.
5.75%, 08/01/28 (Call 08/01/24)^(a)(b)		13,056		11,476,125
8.00%, 08/01/29 (Call 08/01/24)^(a)		9,160		7,943,094
News Corp.
3.88%, 05/15/29 (Call 05/15/24)^(a)(b)		11,688		10,285,440
5.13%, 02/15/32 (Call 02/15/27)^(a)(b)		6,778		6,285,977
Nexstar Media Inc.
4.75%, 11/01/28 (Call 11/01/23)^(a)(b)		12,017		10,875,385
5.63%, 07/15/27 (Call 09/12/22)^(a)(b)		23,645		22,542,670
Paramount Global
6.25%, 02/28/57 (Call 02/28/27)^(b)(c)		10,823		10,151,974
6.38%, 03/30/62 (Call 03/30/27)^(b)(c)		12,113		11,191,976
Radiate Holdco LLC/Radiate Finance Inc.
4.50%, 09/15/26 (Call 09/15/23)^(a)(b)		11,881		10,232,511
6.50%, 09/15/28 (Call 09/15/23)^(a)(b)		13,474		10,065,078
Scripps Escrow II Inc.
3.88%, 01/15/29 (Call 01/15/24)^(a)(b)		7,169		6,075,727
5.38%, 01/15/31 (Call 01/15/26)^(a)(b)		5,309		4,393,198
Scripps Escrow Inc., 5.88%, 07/15/27
(Call 10/03/22)^(a)(b)		5,145		4,656,225


Security	Par (000)		Value

Media (continued)
Sinclair Television Group Inc.
4.13%, 12/01/30 (Call 12/01/25)^(a)	$	10,422	$	8,506,957
5.13%, 02/15/27 (Call 09/16/22)^(a)(b)		1,573		1,348,848
5.50%, 03/01/30 (Call 12/01/24)^(a)(b)		5,922		4,602,590
Sirius XM Radio Inc.
3.13%, 09/01/26 (Call 09/01/23)^(a)(b)		12,799		11,325,835
3.88%, 09/01/31 (Call 09/01/26)^(a)(b)		21,764		17,574,430
4.00%, 07/15/28 (Call 07/15/24)^(a)(b)		26,149		22,831,346
4.13%, 07/01/30 (Call 07/01/25)^(a)(b)		19,288		16,371,191
5.00%, 08/01/27 (Call 10/03/22)^(a)(b)		22,105		20,795,279
5.50%, 07/01/29 (Call 07/01/24)^(a)(b)		15,191		14,219,080
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)^(b)		12,131		11,622,954
4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		6,117		6,023,410
5.00%, 09/15/29 (Call 09/15/24)^(b)		16,258		15,596,787
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(a)		13,600		12,124,400
Univision Communications Inc.
4.50%, 05/01/29 (Call 05/01/24)^(a)(b)		13,438		11,711,777
5.13%, 02/15/25 (Call 09/12/22)^(a)(b)		19,004		18,380,669
6.63%, 06/01/27 (Call 06/01/23)^(a)		21,763		21,001,295
7.38%, 06/30/30 (Call 06/30/25)^(a)		11,590		11,486,699
UPC Broadband Finco BV, 4.88%, 07/15/31
(Call 07/15/26)^(a)		15,990		13,831,350
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(a)(b)		6,174		5,295,378
Videotron Ltd.
3.63%, 06/15/29 (Call 06/15/24)^(a)(b)		6,751		5,654,098
5.13%, 04/15/27 (Call 10/03/22)^(a)		8,485		7,954,687
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		4,504		4,469,499
Virgin Media Finance PLC, 5.00%, 07/15/30
(Call 07/15/25)^(a)(b)		12,025		9,366,032
Virgin Media Secured Finance PLC
4.50%, 08/15/30 (Call 08/15/25)^(a)(b)		12,134		10,116,116
5.50%, 05/15/29 (Call 05/15/24)^(a)(b)		18,368		16,360,194
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 07/15/23)^(a)		6,352		5,419,164
VZ Secured Financing BV, 5.00%, 01/15/32
(Call 01/15/27)^(a)		19,876		16,198,940
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)		6,455		5,143,021
6.00%, 01/15/27 (Call 10/03/22)^(a)(b)		8,739		7,862,478
Ziggo BV, 4.88%, 01/15/30 (Call 10/15/24)^(a)		14,009		11,842,508


				1,274,884,491

Mining — 1.0%
Alcoa Nederland Holding BV
4.13%, 03/31/29 (Call 03/31/24)^(a)		593		522,913
5.50%, 12/15/27 (Call 06/15/23)^(a)(b)		678		650,880
6.13%, 05/15/28 (Call 05/15/23)^(a)		299		290,592
Arconic Corp.
6.00%, 05/15/25 (Call 10/03/22)^(a)(b)		7,459		7,319,144
6.13%, 02/15/28 (Call 02/15/23)^(a)		14,538		13,611,203
Constellium SE, 3.75%, 04/15/29 (Call 04/15/24)^(a)(b)		7,188		5,920,181
FMG Resources August 2006 Pty Ltd.
4.38%, 04/01/31 (Call 01/01/31)^(a)(b)		19,151		15,645,409
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		6,940		6,313,376
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		8,400		8,303,281
FMG Resources August Pty. Ltd.
5.88%, 04/15/30 (Call 01/15/30)^(a)(b)		10,357		9,610,571
6.13%, 04/15/32 (Call 01/15/32)^(a)(b)		11,985		11,063,294


Security	Par (000)		Value

Mining (continued)
Kaiser Aluminum Corp.
4.50%, 06/01/31 (Call 06/01/26)^(a)(b)	$	7,577	$	5,919,001
4.63%, 03/01/28 (Call 03/01/23)^(a)(b)		6,168		5,264,943
Novelis Corp.
3.25%, 11/15/26 (Call 11/15/23)^(a)(b)		8,760		7,796,400
3.88%, 08/15/31 (Call 08/15/26)^(a)(b)		12,005		9,636,790
4.75%, 01/30/30 (Call 01/30/25)^(a)(b)		20,567		17,944,090


				125,812,068

Office & Business Equipment — 0.2%
Pitney Bowes Inc., 6.88%, 03/15/27
(Call 03/15/24)^(a)(b)		5,304		3,928,408
Xerox Holdings Corp.
5.00%, 08/15/25 (Call 07/15/25)^(a)(b)		11,459		10,609,639
5.50%, 08/15/28 (Call 07/15/28)^(a)(b)		9,573		8,291,415


				22,829,462

Oil & Gas — 6.1%
Antero Resources Corp.
5.38%, 03/01/30 (Call 03/01/25)^(a)(b)		6,828		6,435,731
7.63%, 02/01/29 (Call 02/01/24)^(a)(b)		8,131		8,375,976
Apache Corp., 4.25%, 01/15/30 (Call 10/15/29)^(b)		8,515		7,695,431
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
5.88%, 06/30/29 (Call 09/01/24)^(a)(b)		6,198		5,568,239
7.00%, 11/01/26 (Call 10/03/22)^(a)(b)		5,912		5,802,392
Callon Petroleum Co.
7.50%, 06/15/30 (Call 06/15/25)^(a)(b)		8,431		7,809,214
8.00%, 08/01/28 (Call 08/01/24)^(a)(b)		8,062		7,719,365
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25
(Call 10/03/22)^(a)(b)		6,168		6,460,980
Chesapeake Energy Corp.
5.50%, 02/01/26 (Call 02/05/23)^(a)		5,987		5,762,727
5.88%, 02/01/29 (Call 02/05/24)^(a)(b)		8,599		8,212,045
6.75%, 04/15/29 (Call 04/15/24)^(a)		12,470		12,251,775
Citgo Holding Inc., 9.25%, 08/01/24 (Call 10/03/22)^(a)(b)		19,830		19,755,637
CITGO Petroleum Corp.
6.38%, 06/15/26 (Call 06/15/23)^(a)(b)		9,303		8,883,202
7.00%, 06/15/25 (Call 10/03/22)^(a)		16,039		15,597,928
CNX Resources Corp.
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		5,383		5,057,550
7.25%, 03/14/27 (Call 10/03/22)^(a)(b)		10,914		10,845,788
Colgate Energy Partners III LLC, 5.88%, 07/01/29
(Call 07/01/24)^(a)		9,989		9,232,358
Comstock Resources Inc.
5.88%, 01/15/30 (Call 01/15/25)^(a)(b)		12,608		11,507,952
6.75%, 03/01/29 (Call 03/01/24)^(a)(b)		16,187		15,478,819
CrownRock LP/CrownRock Finance Inc.
5.00%, 05/01/29 (Call 05/01/24)^(a)(b)		6,193		5,730,383
5.63%, 10/15/25 (Call 10/03/22)^(a)(b)		14,293		14,074,317
CVR Energy Inc.
5.25%, 02/15/25 (Call 09/16/22)^(a)(b)		9,524		8,995,894
5.75%, 02/15/28 (Call 02/15/23)^(a)(b)		5,420		4,969,977
Endeavor Energy Resources LP/EER Finance Inc.,
5.75%, 01/30/28 (Call 01/30/23)^(a)(b)		12,977		12,814,788
Energean Israel Finance Ltd.
4.50%, 03/30/24 (Call 12/30/23)^(a)(e)		7,781		7,469,760
4.88%, 03/30/26 (Call 12/30/25)^(a)(e)		9,488		8,752,680
5.38%, 03/30/28 (Call 09/30/27)^(a)(e)		9,060		8,175,744
5.88%, 03/30/31 (Call 09/30/30)^(a)(e)		7,631		6,600,815


Security	Par (000)		Value

Oil & Gas (continued)
EQT Corp.
3.13%, 05/15/26 (Call 05/15/23)^(a)(b)	$	69	$	64,590
3.90%, 10/01/27 (Call 07/01/27)^(b)		683		647,484
6.13%, 02/01/25 (Call 01/01/25)		537		552,478
7.00%, 02/01/30 (Call 11/01/29)^(b)		569		608,099
Hilcorp Energy I LP/Hilcorp Finance Co.
5.75%, 02/01/29 (Call 02/01/24)^(a)(b)		7,669		7,000,838
6.00%, 04/15/30 (Call 04/15/25)^(a)(b)		6,926		6,360,077
6.00%, 02/01/31 (Call 02/01/26)^(a)(b)		8,474		7,679,260
6.25%, 11/01/28 (Call 11/01/23)^(a)(b)		7,757		7,319,086
6.25%, 04/15/32 (Call 05/15/27)^(a)		6,966		6,237,879
Laredo Petroleum Inc.
7.75%, 07/31/29 (Call 07/31/24)^(a)(b)		5,813		5,548,639
9.50%, 01/15/25 (Call 10/03/22)^(b)		5,760		5,782,176
Leviathan Bond Ltd.
6.13%, 06/30/25 (Call 03/30/25)^(a)(e)		6,715		6,601,248
6.50%, 06/30/27 (Call 12/30/26)^(a)(e)		8,981		8,748,617
6.75%, 06/30/30 (Call 12/30/29)^(a)(e)		7,656		7,271,847
Matador Resources Co., 5.88%, 09/15/26
(Call 09/16/22)^(b)		12,117		11,874,418
MEG Energy Corp.
5.88%, 02/01/29 (Call 02/01/24)^(a)(b)		9,948		9,198,916
7.13%, 02/01/27 (Call 02/01/23)^(a)(b)		14,770		14,925,085
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 10/03/22)^(a)(b)		9,040		8,181,200
10.50%, 05/15/27 (Call 10/03/22)^(a)(b)		7,034		6,801,016
Murphy Oil Corp.
5.75%, 08/15/25 (Call 10/03/22)^(b)		6,785		6,732,077
5.88%, 12/01/27 (Call 12/01/22)^(b)		7,815		7,597,040
6.38%, 07/15/28 (Call 07/15/24)		7,533		7,429,421
Nabors Industries Inc.
5.75%, 02/01/25 (Call 11/01/24)^(b)		6,692		6,168,886
7.38%, 05/15/27 (Call 05/15/24)^(a)(b)		9,476		9,144,340
Nabors Industries Ltd., 7.25%, 01/15/26
(Call 10/03/22)^(a)		8,467		7,628,767
Occidental Petroleum Corp.
2.90%, 08/15/24 (Call 07/15/24)^(b)		6,336		6,171,264
5.50%, 12/01/25 (Call 09/01/25)^(b)		8,389		8,614,454
5.55%, 03/15/26 (Call 12/15/25)^(b)		15,183		15,570,167
5.88%, 09/01/25 (Call 06/01/25)^(b)		9,933		10,188,775
6.13%, 01/01/31 (Call 07/01/30)^(b)		17,458		18,181,721
6.38%, 09/01/28 (Call 03/01/28)^(b)		7,776		8,126,309
6.63%, 09/01/30 (Call 03/01/30)^(b)		20,436		21,815,371
6.95%, 07/01/24		3,853		4,026,385
7.50%, 05/01/31^(b)		11,517		12,947,987
7.88%, 09/15/31		7,269		8,363,639
8.00%, 07/15/25 (Call 04/15/25)		6,157		6,688,041
8.50%, 07/15/27 (Call 01/15/27)^(b)		7,469		8,374,616
8.88%, 07/15/30 (Call 01/15/30)		11,925		13,934,243
Parkland Corp.
4.50%, 10/01/29 (Call 10/01/24)^(a)		9,875		8,371,529
4.63%, 05/01/30 (Call 05/01/25)^(a)(b)		12,165		10,419,213
5.88%, 07/15/27 (Call 10/03/22)^(a)(b)		7,413		7,138,941
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)		10,163		9,134,047
7.25%, 06/15/25 (Call 10/03/22)		10,199		9,867,533
Puma International Financing SA
5.00%, 01/24/26 (Call 09/12/22)^(a)		11,900		10,504,651
5.13%, 10/06/24 (Call 09/12/22)^(a)		7,161		6,573,798


Security	Par (000)		Value

Oil & Gas (continued)
Range Resources Corp.
4.75%, 02/15/30 (Call 02/15/25)^(a)(b)	$	7,095	$	6,565,004
4.88%, 05/15/25 (Call 02/15/25)^(b)		8,993		8,672,142
8.25%, 01/15/29 (Call 01/15/24)^(b)		9,485		9,951,472
SM Energy Co.
6.50%, 07/15/28 (Call 07/15/24)		5,741		5,522,603
6.63%, 01/15/27 (Call 10/03/22)^(b)		5,931		5,745,858
6.75%, 09/15/26 (Call 10/03/22)		6,063		5,947,781
Southwestern Energy Co.
4.75%, 02/01/32 (Call 02/01/27)^(b)		15,545		13,836,799
5.38%, 02/01/29 (Call 02/01/24)^(b)		9,968		9,353,722
5.38%, 03/15/30 (Call 03/15/25)^(b)		16,236		15,136,011
5.70%, 01/23/25 (Call 10/23/24)^(b)		789		785,055
7.75%, 10/01/27 (Call 10/03/22)^(b)		1,453		1,505,671
Sunoco LP/Sunoco Finance Corp.
4.50%, 05/15/29 (Call 05/15/24)		9,350		8,065,497
4.50%, 04/30/30 (Call 04/30/25)^(b)		11,899		10,123,570
5.88%, 03/15/28 (Call 03/15/23)^(b)		6,096		5,693,359
6.00%, 04/15/27 (Call 10/03/22)^(b)		8,142		7,901,296
Transocean Guardian Ltd., 5.88%, 01/15/24
(Call 10/03/22)^(a)(b)		3,631		3,437,543
Transocean Inc.
7.25%, 11/01/25 (Call 09/12/22)^(a)		6,202		4,899,580
7.50%, 01/15/26 (Call 09/12/22)^(a)		7,961		6,139,523
8.00%, 02/01/27 (Call 02/01/23)^(a)(b)		8,280		6,147,900
11.50%, 01/30/27 (Call 07/30/23)^(a)		9,204		8,883,977
Transocean Pontus Ltd., 6.13%, 08/01/25
(Call 10/03/22)^(a)		345		330,299
Transocean Poseidon Ltd., 6.88%, 02/01/27
(Call 10/03/22)^(a)(b)		5,939		5,616,987


				777,415,284

Oil & Gas Services — 0.5%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)^(a)(b)		12,638		11,508,163
6.88%, 04/01/27 (Call 10/03/22)^(a)(b)		4,758		4,466,605
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 10/03/22)		9,038		8,438,853
6.88%, 09/01/27 (Call 10/03/22)		11,374		10,512,874
Weatherford International Ltd.
6.50%, 09/15/28 (Call 09/15/24)^(a)(b)		6,495		6,108,028
8.63%, 04/30/30 (Call 10/30/24)^(a)(b)		20,970		18,930,122
11.00%, 12/01/24 (Call 10/03/22)^(a)(b)		526		530,274


				60,494,919

Packaging & Containers — 2.6%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 6.00%, 06/15/27
(Call 06/15/24)^(a)(b)		9,158		8,967,514
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.25%, 09/01/28 (Call 05/15/24)^(a)		7,485		6,455,812
4.00%, 09/01/29 (Call 05/15/24)^(a)(b)		14,747		11,907,956
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 09/12/22)^(a)(b)		18,132		15,702,312
5.25%, 04/30/25 (Call 10/03/22)^(a)		9,265		8,709,969
5.25%, 08/15/27 (Call 10/03/22)^(a)		10,417		7,561,089
5.25%, 08/15/27 (Call 10/03/22)^(a)(b)		12,681		9,204,394


Security	Par (000)		Value

Packaging & Containers (continued)
Ball Corp.
2.88%, 08/15/30 (Call 05/15/30)^(b)	$	17,752	$	14,428,826
3.13%, 09/15/31 (Call 06/15/31)^(b)		12,685		10,266,837
4.00%, 11/15/23^(b)		7,264		7,182,963
4.88%, 03/15/26 (Call 12/15/25)^(b)		8,651		8,333,076
5.25%, 07/01/25^(b)		15,976		15,936,060
Berry Global Inc.
4.50%, 02/15/26 (Call 10/03/22)^(a)(b)		641		615,360
5.63%, 07/15/27 (Call 10/03/22)^(a)(b)		4,923		4,807,309
Clydesdale Acquisition Holdings Inc.
6.63%, 04/15/29 (Call 04/15/25)^(a)(b)		6,730		6,469,025
8.75%, 04/15/30 (Call 04/15/25)^(a)(b)		15,349		13,372,816
Crown Americas LLC, 5.25%, 04/01/30
(Call 01/01/30)^(a)(b)		7,500		7,215,417
Crown Americas LLC/Crown Americas Capital Corp. V,
4.25%, 09/30/26 (Call 03/31/26)		5,160		4,829,241
Crown Americas LLC/Crown Americas Capital Corp. VI,
4.75%, 02/01/26 (Call 10/03/22)^(b)		12,217		11,781,769
Graphic Packaging International LLC
3.50%, 03/15/28^(a)		6,391		5,674,609
3.75%, 02/01/30 (Call 08/01/29)^(a)(b)		5,224		4,482,083
LABL Inc.
5.88%, 11/01/28 (Call 11/01/24)^(a)(b)		7,303		6,351,328
6.75%, 07/15/26 (Call 09/12/22)^(a)		9,481		8,970,705
8.25%, 11/01/29 (Call 11/01/24)^(a)(b)		6,863		5,524,715
10.50%, 07/15/27 (Call 09/12/22)^(a)(b)		7,921		7,418,016
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 10/03/22)^(a)(b)		19,192		18,584,333
7.25%, 04/15/25 (Call 10/03/22)^(a)(b)		19,163		17,402,164
OI European Group BV, 4.75%, 02/15/30
(Call 11/15/24)^(a)(b)		5,607		4,539,988
Owens-Brockway Glass Container Inc.
5.88%, 08/15/23^(a)(b)		873		868,810
6.63%, 05/13/27 (Call 05/15/23)^(a)(b)		7,488		6,959,347
Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 4.00%, 10/15/27
(Call 10/15/23)^(a)(b)		12,767		11,163,592
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., 4.38%, 10/15/28
(Call 10/15/24)^(a)(b)		7,622		6,688,305
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)(b)		4,784		4,319,952
5.00%, 04/15/29 (Call 04/15/25)^(a)(b)		8,881		8,439,437
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		4,073		4,028,553
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		5,433		5,428,756
Silgan Holdings Inc., 4.13%, 02/01/28
(Call 10/01/22)^(b)		7,899		7,206,882
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 10/03/22)^(a)(b)		13,037		12,515,520
8.50%, 08/15/27 (Call 09/12/22)^(a)(b)		10,584		10,021,778


				330,336,618

Pharmaceuticals — 3.3%
AdaptHealth LLC
4.63%, 08/01/29 (Call 02/01/24)^(a)(b)		6,228		5,186,180
5.13%, 03/01/30 (Call 03/01/25)^(a)		7,491		6,426,484
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 10/03/22)^(a)(b)		22,260		10,612,455
9.25%, 04/01/26 (Call 10/03/22)^(a)(b)		19,491		11,694,600
Bausch Health Companies Inc.
4.88%, 06/01/28 (Call 06/01/24)^(a)		22,989		15,661,486


Security	Par (000)		Value

Pharmaceuticals (continued)
5.00%, 01/30/28 (Call 01/30/23)^(a)	$	15,986	$	5,762,953
5.00%, 02/15/29 (Call 02/15/24)^(a)(b)		12,537		4,631,168
5.25%, 01/30/30 (Call 01/30/25)^(a)		15,812		5,850,440
5.25%, 02/15/31 (Call 02/15/26)^(a)(b)		12,861		4,965,954
5.50%, 11/01/25 (Call 10/03/22)^(a)(b)		24,145		19,919,625
5.75%, 08/15/27 (Call 09/16/22)^(a)(b)		6,875		5,001,563
6.13%, 02/01/27 (Call 02/01/24)^(a)		13,714		10,216,930
6.25%, 02/15/29 (Call 02/15/24)^(a)(b)		20,168		7,613,420
7.00%, 01/15/28 (Call 01/15/23)^(a)(b)		9,152		3,432,000
7.25%, 05/30/29 (Call 05/30/24)^(a)(b)		10,265		3,957,158
9.00%, 12/15/25 (Call 10/03/22)^(a)(b)		19,958		12,610,961
Elanco Animal Health Inc., 6.40%, 08/28/28
(Call 05/28/28)^(b)		2,704		2,514,720
Endo Luxembourg Finance Co. I Sarl/Endo U.S. Inc.,
6.13%, 04/01/29 (Call 04/01/24)^(a)(b)		15,829		13,446,735
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 10/03/22)^(a)(b)		8,268		7,940,381
HLF Financing Sarl LLC/Herbalife International Inc.,
4.88%, 06/01/29 (Call 06/01/24)^(a)(b)		7,591		5,928,571
Jazz Securities DAC, 4.38%, 01/15/29
(Call 07/15/24)^(a)(b)		18,902		16,936,192
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
10.00%, 04/15/25 (Call 09/16/22)^(a)(b)		6,890		6,235,450
11.50%, 12/15/28 (Call 06/15/27)^(a)(b)		8,613		7,719,401
Organon & Co./Organon Foreign Debt Co-Issuer BV
4.13%, 04/30/28 (Call 04/30/24)^(a)		27,702		24,853,403
5.13%, 04/30/31 (Call 04/30/26)^(a)(b)		26,336		23,044,000
Owens & Minor Inc.
4.50%, 03/31/29 (Call 03/31/24)^(a)(b)		6,798		5,765,837
6.63%, 04/01/30 (Call 04/01/25)^(a)(b)		6,905		6,369,966
Par Pharmaceutical Inc., 7.50%, 04/01/27
(Call 10/03/22)^(a)		28,847		24,519,950
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)		9,204		8,677,562
4.38%, 03/15/26 (Call 12/15/25)^(b)		9,238		8,764,552
4.40%, 06/15/30 (Call 03/15/30)^(b)		10,179		8,843,006
Prestige Brands Inc.
3.75%, 04/01/31 (Call 04/01/26)^(a)		9,587		7,688,870
5.13%, 01/15/28 (Call 01/15/23)^(a)(b)		4,484		4,114,070
Teva Pharmaceutical Finance Netherlands III BV
2.80%, 07/21/23^(b)		406		389,760
3.15%, 10/01/26^(b)		49,362		41,612,166
4.75%, 05/09/27 (Call 02/09/27)^(b)		13,064		11,439,289
5.13%, 05/09/29 (Call 02/09/29)^(b)		12,294		10,738,809
6.00%, 04/15/24 (Call 01/15/24)^(b)		15,886		15,431,343
6.75%, 03/01/28 (Call 12/01/27)^(b)		17,091		16,347,029
7.13%, 01/31/25 (Call 10/31/24)		11,302		11,170,614


				424,035,053

Pipelines — 4.8%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 06/15/29 (Call 06/15/24)^(a)(b)		10,313		9,377,405
5.75%, 03/01/27 (Call 09/16/22)^(a)		7,382		7,023,327
5.75%, 01/15/28 (Call 01/15/23)^(a)(b)		8,792		8,350,378
7.88%, 05/15/26 (Call 05/15/23)^(a)		6,185		6,297,869
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)^(b)		7,974		7,092,056
4.13%, 03/01/25 (Call 02/01/25)^(a)(b)		5,761		5,408,127
4.13%, 12/01/27 (Call 09/01/27)		5,997		5,317,840


Security	Par (000)		Value

Pipelines (continued)
4.15%, 07/01/23 (Call 04/01/23)	$	613	$	602,656
4.50%, 03/01/28 (Call 12/01/27)^(a)(b)		6,398		5,650,010
Cheniere Energy Inc., 4.63%, 10/15/28
(Call 10/15/23)^(b)		27,842		26,792,635
Cheniere Energy Partners LP
3.25%, 01/31/32 (Call 01/31/27)		16,305		13,016,363
4.00%, 03/01/31 (Call 03/01/26)^(b)		21,200		18,300,900
4.50%, 10/01/29 (Call 10/01/24)^(b)		18,540		17,097,588
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (Call 06/15/26)^(a)(b)		19,010		16,826,701
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 09/16/22)^(a)(b)		8,917		8,294,442
5.75%, 04/01/25 (Call 10/03/22)^(b)		4,353		4,181,057
6.00%, 02/01/29 (Call 02/01/24)^(a)(b)		8,934		8,252,782
8.00%, 04/01/29 (Call 04/01/24)^(a)(b)		7,736		7,661,688
DCP Midstream Operating LP
5.38%, 07/15/25 (Call 04/15/25)		795		796,988
5.63%, 07/15/27 (Call 04/15/27)^(b)		859		869,738
DT Midstream Inc.
4.13%, 06/15/29 (Call 06/15/24)^(a)(b)		14,005		12,228,065
4.38%, 06/15/31 (Call 06/15/26)^(a)		14,330		12,266,798
EnLink Midstream LLC
5.38%, 06/01/29 (Call 03/01/29)^(b)		775		725,594
5.63%, 01/15/28 (Call 07/15/27)^(a)		2,175		2,090,719
6.50%, 09/01/30		10,385		10,333,075
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)		9,350		9,176,744
4.85%, 07/15/26 (Call 04/15/26)^(b)		8,828		8,712,291
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)^(b)		2,507		2,374,630
4.13%, 12/01/26 (Call 09/01/26)^(b)		7,935		7,164,511
4.50%, 01/15/29 (Call 07/15/28)^(a)(b)		11,541		9,962,913
4.75%, 01/15/31 (Call 07/15/30)^(a)(b)		14,657		12,671,489
5.50%, 07/15/28 (Call 04/15/28)^(b)		11,040		10,102,373
6.00%, 07/01/25 (Call 04/01/25)^(a)(b)		4,633		4,462,497
6.50%, 07/01/27 (Call 01/01/27)^(a)(b)		10,535		10,171,218
7.50%, 06/01/27 (Call 06/01/24)^(a)		5,953		5,886,029
7.50%, 06/01/30 (Call 12/01/29)^(a)(b)		7,612		7,535,880
Genesis Energy LP/Genesis Energy Finance Corp.
6.50%, 10/01/25 (Call 10/03/22)		7,516		7,002,657
7.75%, 02/01/28 (Call 02/01/23)^(b)		10,334		9,546,032
8.00%, 01/15/27 (Call 01/15/24)^(b)		13,172		12,480,470
Hess Midstream Operations LP
4.25%, 02/15/30 (Call 02/15/25)^(a)(b)		9,574		8,206,442
5.13%, 06/15/28 (Call 06/15/23)^(a)(b)		7,004		6,495,147
5.50%, 10/15/30 (Call 10/15/25)^(a)		5,880		5,361,825
5.63%, 02/15/26 (Call 10/03/22)^(a)(b)		12,607		12,263,942
ITT Holdings LLC, 6.50%, 08/01/29 (Call 08/01/24)^(a)(b)		16,483		13,887,290
Kinetik Holdings LP, 5.88%, 06/15/30
(Call 06/15/25)^(a)(b)		13,474		12,817,412
New Fortress Energy Inc.
6.50%, 09/30/26 (Call 03/31/23)^(a)		18,686		17,728,342
6.75%, 09/15/25 (Call 09/21/22)^(a)(b)		18,305		17,664,325
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)^(a)		27,795		25,111,434
NGL Energy Partners LP/NGL Energy Finance Corp.,
7.50%, 11/01/23 (Call 10/03/22)^(b)		2,934		2,779,965
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)^(b)		6,655		6,097,125


Security	Par (000)		Value

Pipelines (continued)
5.75%, 10/01/25 (Call 07/01/25)^(b)	$	7,218	$	6,875,217
6.00%, 06/01/26 (Call 03/01/26)^(b)		6,789		6,423,752
6.38%, 10/01/30 (Call 04/01/30)^(b)		8,714		7,929,740
Rockies Express Pipeline LLC
3.60%, 05/15/25 (Call 04/15/25)^(a)		5,456		5,004,516
4.95%, 07/15/29 (Call 04/15/29)^(a)(b)		8,071		7,270,572
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.50%, 01/15/28 (Call 01/15/23)^(a)(b)		8,675		7,421,128
6.00%, 03/01/27 (Call 03/01/23)^(a)(b)		6,037		5,506,951
6.00%, 12/31/30 (Call 12/31/25)^(a)(b)		10,270		9,014,790
6.00%, 09/01/31 (Call 09/01/26)^(a)(b)		8,039		7,035,242
7.50%, 10/01/25 (Call 10/03/22)^(a)(b)		7,360		7,369,200
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.88%, 02/01/31 (Call 02/01/26)		323		298,746
5.50%, 03/01/30 (Call 03/01/25)		471		456,463
6.88%, 01/15/29 (Call 01/15/24)		237		241,617
Venture Global Calcasieu Pass LLC
3.88%, 11/01/33 (Call 05/01/33)^(a)(b)		16,414		13,623,620
3.88%, 08/15/29 (Call 02/15/29)^(a)(b)		15,659		13,679,845
4.13%, 08/15/31 (Call 02/15/31)^(a)		17,387		15,048,598
Western Midstream Operating LP
3.35%, 02/01/25 (Call 01/01/25)^(b)		8,731		8,240,702
3.95%, 06/01/25 (Call 03/01/25)		419		400,564
4.30%, 02/01/30 (Call 11/01/29)^(b)		14,965		13,382,451
4.50%, 03/01/28 (Call 12/01/27)		5,482		5,083,239
4.65%, 07/01/26 (Call 04/01/26)		6,274		5,965,846
4.75%, 08/15/28 (Call 05/15/28)		6,169		5,824,631


				612,615,214

Real Estate — 0.6%
Howard Hughes Corp. (The)
4.13%, 02/01/29 (Call 02/01/24)^(a)(b)		7,738		6,436,082
4.38%, 02/01/31 (Call 02/01/26)^(a)(b)		10,036		8,036,327
5.38%, 08/01/28 (Call 08/01/23)^(a)(b)		10,254		9,126,060
Kennedy-Wilson Inc.
4.75%, 03/01/29 (Call 03/01/24)^(b)		7,644		6,380,370
4.75%, 02/01/30 (Call 09/01/24)^(b)		8,384		6,753,312
5.00%, 03/01/31 (Call 03/01/26)		8,794		7,229,620
Realogy Group LLC/Realogy Co-Issuer Corp.
5.25%, 04/15/30 (Call 04/15/25)^(a)		14,797		11,134,742
5.75%, 01/15/29 (Call 01/15/24)^(a)(b)		11,085		8,674,013
WeWork Companies Inc., 7.88%, 05/01/25^(a)(b)		8,487		6,293,620
WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)^(a)(b)		7,814		5,014,322


				75,078,468

Real Estate Investment Trusts — 3.5%
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL
4.50%, 04/01/27 (Call 10/01/23)^(a)(b)		10,437		8,865,021
5.75%, 05/15/26 (Call 09/12/22)^(a)(b)		12,170		11,372,865
Diversified Healthcare Trust
4.38%, 03/01/31 (Call 09/01/30)^(b)		6,546		4,492,192
4.75%, 02/15/28 (Call 08/15/27)^(b)		7,709		5,642,333
9.75%, 06/15/25 (Call 10/03/22)^(b)		6,098		5,994,639
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/26 (Call 03/15/26)^(a)(b)		13,128		11,413,221
6.00%, 04/15/25 (Call 10/03/22)^(a)(b)		5,223		5,072,466


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Iron Mountain Inc.
4.50%, 02/15/31 (Call 02/15/26)^(a)(b)	$	15,121	$	12,585,208
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		13,841		12,691,782
4.88%, 09/15/29 (Call 09/15/24)^(a)(b)		13,437		11,675,409
5.00%, 07/15/28 (Call 07/15/23)^(a)(b)		7,446		6,746,076
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		10,030		9,224,123
5.25%, 07/15/30 (Call 07/15/25)^(a)		16,760		14,832,600
5.63%, 07/15/32 (Call 07/15/26)^(a)(b)		8,899		7,792,854
Iron Mountain Information Management Services Inc.,
5.00%, 07/15/32 (Call 07/15/27)^(a)		9,079		7,541,782
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)^(b)		6,338		6,325,514
4.75%, 10/01/24 (Call 07/01/24)^(b)		9,729		9,687,652
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(a)		7,478		6,485,103
4.75%, 06/15/29 (Call 06/15/24)^(a)		10,194		8,560,188
MPT Operating Partnership LP/MPT Finance Corp.
3.50%, 03/15/31 (Call 03/15/26)		17,090		12,842,793
4.63%, 08/01/29 (Call 08/01/24)^(b)		11,971		10,070,604
5.00%, 10/15/27 (Call 10/15/22)^(b)		19,768		17,585,799
5.25%, 08/01/26 (Call 10/03/22)^(b)		6,563		6,211,675
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.88%, 05/15/29 (Call 05/15/24)^(a)(b)		11,145		9,731,535
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		10,622		9,752,377
7.50%, 06/01/25 (Call 10/03/22)^(a)(b)		6,676		6,730,076
RHP Hotel Properties LP/RHP Finance Corp.
4.50%, 02/15/29 (Call 02/15/24)^(a)(b)		8,318		7,195,240
4.75%, 10/15/27 (Call 10/15/22)^(b)		10,317		9,381,558
RLJ Lodging Trust LP
3.75%, 07/01/26 (Call 07/01/23)^(a)(b)		7,559		6,784,202
4.00%, 09/15/29 (Call 09/15/24)^(a)(b)		6,380		5,366,959
SBA Communications Corp.
3.13%, 02/01/29 (Call 02/01/24)^(b)		19,100		15,721,783
3.88%, 02/15/27 (Call 02/15/23)^(b)		19,865		18,104,194
Service Properties Trust
3.95%, 01/15/28 (Call 07/15/27)^(b)		6,087		4,540,415
4.35%, 10/01/24 (Call 09/01/24)		11,448		10,252,840
4.38%, 02/15/30 (Call 08/15/29)^(b)		5,108		3,712,963
4.75%, 10/01/26 (Call 08/01/26)		4,941		4,037,291
4.95%, 02/15/27 (Call 08/15/26)^(b)		6,366		5,141,916
4.95%, 10/01/29 (Call 07/01/29)		6,059		4,533,768
5.50%, 12/15/27 (Call 09/15/27)^(b)		6,534		5,636,490
7.50%, 09/15/25 (Call 06/15/25)		9,271		8,908,597
Starwood Property Trust Inc.
3.63%, 07/15/26 (Call 01/15/26)^(a)(b)		4,845		4,342,331
3.75%, 12/31/24 (Call 09/30/24)^(a)(b)		4,110		3,822,143
4.38%, 01/15/27 (Call 07/15/26)^(a)(b)		7,499		6,674,110
4.75%, 03/15/25 (Call 09/15/24)^(b)		8,124		7,717,962
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
6.00%, 01/15/30 (Call 01/15/25)^(a)(b)		9,307		6,624,723
7.88%, 02/15/25 (Call 10/03/22)^(a)		29,848		29,400,280
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
4.75%, 04/15/28 (Call 04/15/24)^(a)(b)		8,910		7,462,125
6.50%, 02/15/29 (Call 02/15/24)^(a)		14,743		11,204,680
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 10/03/22)^(a)(b)		682		643,787


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
3.75%, 02/15/27 (Call 02/15/23)^(a)(b)	$	716	$	647,768
3.88%, 02/15/29 (Call 11/15/28)^(a)(b)		450		399,755
4.13%, 08/15/30 (Call 02/15/25)^(a)(b)		633		556,755
4.25%, 12/01/26 (Call 12/01/22)^(a)		715		668,868
4.50%, 09/01/26 (Call 06/01/26)^(a)		727		686,310
4.63%, 06/15/25 (Call 03/15/25)^(a)(b)		487		469,930
4.63%, 12/01/29 (Call 12/01/24)^(a)		515		474,176
5.63%, 05/01/24 (Call 02/01/24)^(a)(b)		709		719,394
5.75%, 02/01/27 (Call 11/01/26)^(a)(b)		330		324,895
XHR LP
4.88%, 06/01/29 (Call 06/01/24)^(a)		7,124		6,235,002
6.38%, 08/15/25 (Call 09/12/22)^(a)(b)		7,536		7,323,660


				445,642,757

Retail — 4.6%
1011778 BC ULC/New Red Finance Inc.
3.50%, 02/15/29 (Call 02/15/24)^(a)(b)		10,184		8,732,780
3.88%, 01/15/28 (Call 10/03/22)^(a)(b)		22,772		20,253,417
4.00%, 10/15/30 (Call 10/15/25)^(a)(b)		39,331		31,637,070
4.38%, 01/15/28 (Call 11/15/22)^(a)(b)		9,315		8,312,753
5.75%, 04/15/25 (Call 10/03/22)^(a)(b)		2,942		2,957,608
Asbury Automotive Group Inc.
4.50%, 03/01/28 (Call 03/01/23)^(b)		6,425		5,737,975
4.63%, 11/15/29 (Call 11/15/24)^(a)		10,111		8,630,581
4.75%, 03/01/30 (Call 03/01/25)^(b)		6,429		5,473,856
5.00%, 02/15/32 (Call 11/15/26)^(a)(b)		7,768		6,475,016
Bath & Body Works Inc.
5.25%, 02/01/28^(b)		6,028		5,372,455
6.63%, 10/01/30 (Call 10/01/25)^(a)(b)		12,864		11,702,381
7.50%, 06/15/29 (Call 06/15/24)^(b)		7,115		6,843,207
Carvana Co.
4.88%, 09/01/29 (Call 09/01/24)^(a)(b)		9,548		5,442,360
5.50%, 04/15/27 (Call 04/15/24)^(a)(b)		8,485		5,468,476
5.63%, 10/01/25 (Call 10/01/22)^(a)(b)		6,661		4,921,924
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		8,004		4,805,068
10.25%, 05/01/30 (Call 05/01/27)^(a)(b)		44,084		34,853,912
eG Global Finance PLC
6.75%, 02/07/25 (Call 09/12/22)^(a)(b)		10,170		9,613,447
8.50%, 10/30/25 (Call 10/03/22)^(a)		7,991		7,484,434
Ferrellgas LP/Ferrellgas Finance Corp.
5.38%, 04/01/26 (Call 04/01/23)^(a)(b)		8,760		7,723,156
5.88%, 04/01/29 (Call 04/01/24)^(a)(b)		11,576		9,487,227
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc.
4.63%, 01/15/29 (Call 01/15/25)^(a)(b)		14,735		12,819,450
6.75%, 01/15/30 (Call 01/15/25)^(a)(b)		16,426		13,423,327
FirstCash Inc.
4.63%, 09/01/28 (Call 09/01/23)^(a)(b)		6,442		5,605,674
5.63%, 01/01/30 (Call 01/01/25)^(a)		7,324		6,557,177
Gap Inc. (The)
3.63%, 10/01/29 (Call 10/01/24)^(a)(b)		10,265		7,134,175
3.88%, 10/01/31 (Call 10/01/26)^(a)(b)		9,558		6,642,810
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 10/03/22)^(a)(b)		9,659		9,232,681
LBM Acquisition LLC, 6.25%, 01/15/29
(Call 01/15/24)^(a)(b)		10,627		7,917,115
LCM Investments Holdings II LLC, 4.88%, 05/01/29
(Call 05/01/24)^(a)		13,254		11,061,656
Lithia Motors Inc.
3.88%, 06/01/29 (Call 06/01/24)^(a)		9,057		7,630,522
4.38%, 01/15/31 (Call 10/15/25)^(a)(b)		7,518		6,555,944


Security	Par (000)		Value

Retail (continued)
4.63%, 12/15/27 (Call 12/15/22)^(a)(b)	$	5,921	$	5,482,550
Macy’s Retail Holdings LLC
5.88%, 04/01/29 (Call 04/01/24)^(a)(b)		6,984		6,036,795
5.88%, 03/15/30 (Call 03/15/25)^(a)(b)		6,243		5,312,013
6.13%, 03/15/32 (Call 03/15/27)^(a)(b)		5,199		4,337,145
Michaels Companies Inc. (The)
5.25%, 05/01/28 (Call 11/01/23)^(a)(b)		11,295		8,683,031
7.88%, 05/01/29 (Call 05/01/24)^(a)(b)		17,510		11,644,150
Murphy Oil USA Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)		6,699		5,646,118
4.75%, 09/15/29 (Call 09/15/24)^(b)		5,786		5,327,209
NMG Holding Co. Inc./Neiman Marcus Group LLC,
7.13%, 04/01/26 (Call 04/01/23)^(a)		14,082		13,178,504
Nordstrom Inc.
4.25%, 08/01/31 (Call 05/01/31)		5,957		4,363,502
4.38%, 04/01/30 (Call 01/01/30)^(b)		6,827		5,204,734
Penske Automotive Group Inc.
3.50%, 09/01/25 (Call 10/03/22)^(b)		8,016		7,491,911
3.75%, 06/15/29 (Call 06/15/24)		5,543		4,682,172
PetSmart Inc./PetSmart Finance Corp.
4.75%, 02/15/28 (Call 02/15/24)^(a)(b)		15,353		13,744,950
7.75%, 02/15/29 (Call 02/15/24)^(a)(b)		14,918		13,948,330
QVC Inc.
4.38%, 09/01/28 (Call 06/01/28)^(b)		6,025		4,609,125
4.45%, 02/15/25 (Call 11/15/24)^(b)		9,518		8,721,439
4.75%, 02/15/27 (Call 11/15/26)^(b)		7,324		6,060,610
4.85%, 04/01/24^(b)		6,892		6,626,141
Rite Aid Corp.
7.50%, 07/01/25 (Call 10/03/22)^(a)		7,762		6,532,810
8.00%, 11/15/26 (Call 01/15/23)^(a)(b)		10,511		8,566,465
Sonic Automotive Inc.
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		8,422		7,162,069
4.88%, 11/15/31 (Call 11/15/26)^(a)(b)		6,383		5,325,082
SRS Distribution Inc.
4.63%, 07/01/28 (Call 07/01/24)^(a)		8,420		7,431,492
6.00%, 12/01/29 (Call 12/01/24)^(a)(b)		10,345		8,425,252
6.13%, 07/01/29 (Call 07/01/24)^(a)(b)		7,803		6,419,762
Staples Inc.
7.50%, 04/15/26 (Call 10/03/22)^(a)(b)		27,538		23,269,610
10.75%, 04/15/27 (Call 10/03/22)^(a)(b)		13,729		10,090,815
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (Call 06/01/26)^(a)(b)		9,140		8,044,004
Yum! Brands Inc.
3.63%, 03/15/31 (Call 12/15/30)^(b)		12,694		10,605,837
4.63%, 01/31/32 (Call 10/01/26)^(b)		17,028		14,982,937
4.75%, 01/15/30 (Call 10/15/29)^(a)(b)		8,765		7,995,433
5.38%, 04/01/32 (Call 04/01/27)^(b)		13,463		12,360,784


				584,822,415

Semiconductors — 0.2%
Entegris Escrow Corp., 5.95%, 06/15/30
(Call 06/15/25)^(a)(b)		12,665		11,922,198
Entegris Inc.
3.63%, 05/01/29 (Call 05/01/24)^(a)		5,141		4,329,750
4.38%, 04/15/28 (Call 04/15/23)^(a)		5,582		4,935,716


				21,187,664

Software — 2.1%
Black Knight InfoServ LLC, 3.63%, 09/01/28
(Call 09/01/23)^(a)(b)		13,877		12,166,660


Security	Par (000)		Value

Software (continued)
Central Parent Inc./CDK Global Inc., 7.25%, 06/15/29
(Call 06/15/25)^(a)(b)	$	3,995	$	3,830,246
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 09/12/22)^(a)(b)		14,847		14,661,487
Clarivate Science Holdings Corp.
3.88%, 07/01/28 (Call 06/30/24)^(a)(b)		13,038		11,165,700
4.88%, 07/01/29 (Call 06/30/24)^(a)(b)		12,377		10,259,048
Fair Isaac Corp.
4.00%, 06/15/28 (Call 12/15/22)^(a)		12,281		10,818,496
5.25%, 05/15/26 (Call 02/15/26)^(a)(b)		3,626		3,504,384
Minerva Merger Sub Inc., 6.50%, 02/15/30
(Call 02/15/25)^(a)(b)		31,508		26,789,992
MSCI Inc.
3.25%, 08/15/33 (Call 08/15/27)^(a)(b)		9,022		7,175,648
3.63%, 09/01/30 (Call 03/01/25)^(a)(b)		14,265		12,124,861
3.63%, 11/01/31 (Call 11/01/26)^(a)(b)		8,074		6,700,128
3.88%, 02/15/31 (Call 06/01/25)^(a)(b)		12,011		10,278,357
4.00%, 11/15/29 (Call 11/15/24)^(a)(b)		13,753		12,191,993
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(a)(b)		11,418		9,733,845
3.88%, 12/01/29 (Call 12/01/24)^(a)(b)		11,357		9,205,700
Open Text Holdings Inc.
4.13%, 02/15/30 (Call 02/15/25)^(a)(b)		11,492		9,266,804
4.13%, 12/01/31 (Call 12/01/26)^(a)(b)		9,769		7,640,660
PTC Inc.
3.63%, 02/15/25 (Call 10/03/22)^(a)(b)		6,079		5,714,260
4.00%, 02/15/28 (Call 02/15/23)^(a)		7,130		6,490,032
Rackspace Technology Global Inc.
3.50%, 02/15/28 (Call 02/15/24)^(a)(b)		7,875		5,709,375
5.38%, 12/01/28 (Call 12/01/23)^(a)		7,625		4,209,686
ROBLOX Corp., 3.88%, 05/01/30 (Call 11/01/24)^(a)(b)		12,734		10,537,343
SS&C Technologies Inc., 5.50%, 09/30/27
(Call 10/03/22)^(a)(b)		26,685		25,317,394
Twilio Inc.
3.63%, 03/15/29 (Call 03/15/24)^(b)		5,739		4,792,065
3.88%, 03/15/31 (Call 03/15/26)^(b)		7,127		5,756,692
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25
(Call 10/03/22)^(a)		23,888		18,393,760


				264,434,616

Telecommunications — 6.9%
Altice France Holding SA
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		16,650		11,322,000
10.50%, 05/15/27 (Call 09/12/22)^(a)		20,628		17,724,265
Altice France SA, 5.50%, 10/15/29 (Call 10/15/24)^(a)(b)		26,343		20,721,844
Altice France SA/France
5.13%, 01/15/29 (Call 09/15/23)^(a)		7,312		5,695,188
5.13%, 07/15/29 (Call 04/15/24)^(a)		33,322		25,355,043
5.50%, 01/15/28 (Call 10/03/22)^(a)(b)		14,906		12,322,343
8.13%, 02/01/27 (Call 09/12/22)^(a)(b)		23,859		22,666,050
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)^(a)		14,095		7,717,013
British Telecommunications PLC
4.25%, 11/23/81 (Call 11/23/26)^(a)(c)		7,766		6,793,590
4.88%, 11/23/81 (Call 08/23/31)^(a)(b)(c)		5,742		4,877,917
C&W Senior Financing DAC, 6.88%, 09/15/27
(Call 09/15/22)^(a)(b)		17,052		15,091,020
CommScope Inc.
4.75%, 09/01/29 (Call 09/01/24)^(a)(b)		16,960		14,340,104
6.00%, 03/01/26 (Call 10/03/22)^(a)(b)		22,305		20,966,700
7.13%, 07/01/28 (Call 07/01/23)^(a)(b)		8,956		7,366,310
8.25%, 03/01/27 (Call 10/03/22)^(a)(b)		12,850		11,018,939


Security	Par (000)		Value

Telecommunications (continued)
CommScope Technologies LLC
5.00%, 03/15/27 (Call 09/12/22)^(a)(b)	$	10,137	$	7,971,260
6.00%, 06/15/25 (Call 09/12/22)^(a)(b)		17,846		16,217,552
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/03/22)^(a)		27,524		25,195,104
Consolidated Communications Inc.
5.00%, 10/01/28 (Call 10/01/23)^(a)(b)		5,654		4,333,958
6.50%, 10/01/28 (Call 10/01/23)^(a)(b)		9,372		7,437,619
Frontier Communications Holdings LLC
5.00%, 05/01/28 (Call 05/01/24)^(a)		21,123		18,487,483
5.88%, 10/15/27 (Call 10/15/23)^(a)(b)		16,169		15,000,628
5.88%, 11/01/29 (Call 11/01/24)^(b)		9,498		7,752,742
6.00%, 01/15/30 (Call 10/15/24)^(a)(b)		13,263		10,908,817
6.75%, 05/01/29 (Call 05/01/24)^(a)(b)		13,494		11,604,840
8.75%, 05/15/30 (Call 05/15/25)^(a)		15,884		16,350,672
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(b)		8,746		8,312,136
6.63%, 08/01/26^(b)		9,823		9,251,629
Iliad Holding SASU
6.50%, 10/15/26 (Call 10/15/23)^(a)		15,176		13,977,096
7.00%, 10/15/28 (Call 10/15/24)^(a)		13,452		12,195,045
Intelsat Jackson Holdings SA, 6.50%, 03/15/30
(Call 03/15/25)^(a)(b)		41,060		37,322,719
Level 3 Financing Inc.
3.63%, 01/15/29 (Call 01/15/24)^(a)(b)		11,863		9,511,600
3.75%, 07/15/29 (Call 01/15/24)^(a)(b)		12,712		10,236,592
4.25%, 07/01/28 (Call 07/01/23)^(a)(b)		15,659		13,016,544
4.63%, 09/15/27 (Call 10/03/22)^(a)(b)		13,616		11,989,610
5.25%, 03/15/26 (Call 09/28/22)^(b)		11,631		11,825,819
5.38%, 05/01/25 (Call 09/28/22)^(b)		10,078		10,133,728
Lumen Technologies Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)		17,891		15,584,671
4.50%, 01/15/29 (Call 01/15/24)^(a)		13,675		10,162,781
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		20,813		17,991,798
5.38%, 06/15/29 (Call 06/15/24)^(a)		13,811		10,758,838
5.63%, 04/01/25 (Call 01/01/25)^(b)		7,673		7,443,775
Series W, 6.75%, 12/01/23^(b)		2,473		2,498,967
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(b)		10,165		10,234,122
Nokia OYJ, 4.38%, 06/12/27^(b)		6,834		6,492,997
Sprint Corp.
7.13%, 06/15/24		33,983		35,149,371
7.63%, 02/15/25 (Call 11/15/24)		20,465		21,411,506
7.63%, 03/01/26 (Call 11/01/25)^(b)		20,088		21,296,494
7.88%, 09/15/23^(b)		42,008		43,280,842
Switch Ltd.
3.75%, 09/15/28 (Call 09/15/23)^(a)(b)		6,654		6,598,315
4.13%, 06/15/29 (Call 06/15/24)^(a)(b)		5,143		5,143,000
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		19,488		18,757,200
Telesat Canada/Telesat LLC
4.88%, 06/01/27 (Call 12/01/22)^(a)		4,908		2,622,688
5.63%, 12/06/26 (Call 12/06/23)^(a)(b)		6,512		3,809,260
6.50%, 10/15/27 (Call 10/15/22)^(a)(b)		3,429		1,424,861
T-Mobile USA Inc.
2.25%, 02/15/26 (Call 02/15/23)^(b)		2,679		2,462,564
2.63%, 04/15/26 (Call 04/15/23)		994		921,155
2.63%, 02/15/29 (Call 02/15/24)		797		683,627
3.38%, 04/15/29 (Call 04/15/24)		286		256,187
3.50%, 04/15/31 (Call 04/15/26)		275		243,101
4.75%, 02/01/28 (Call 02/01/23)		282		274,809
5.38%, 04/15/27 (Call 09/12/22)^(b)		449		450,248


Security	Par/ Shares (000)		Value

Telecommunications (continued)
ViaSat Inc.
5.63%, 09/15/25 (Call 09/12/22)^(a)(b)	$	11,659	$	10,219,499
5.63%, 04/15/27 (Call 09/12/22)^(a)(b)		6,849		6,288,067
6.50%, 07/15/28 (Call 07/15/23)^(a)		5,237		4,031,888
Vmed O2 UK Financing I PLC
4.25%, 01/31/31 (Call 01/31/26)^(a)		19,323		15,605,158
4.75%, 07/15/31 (Call 07/15/26)^(a)		18,102		14,900,209
Vodafone Group PLC
3.25%, 06/04/81 (Call 06/04/26)^(c)		7,457		6,419,033
4.13%, 06/04/81 (Call 03/04/31)^(b)(c)		13,940		10,926,238
7.00%, 04/04/79 (Call 01/04/29)^(b)(c)		25,160		25,977,700
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)^(a)(b)		18,173		15,818,688
Zayo Group Holdings Inc.
4.00%, 03/01/27 (Call 10/03/22)^(a)(b)		20,760		17,697,900
6.13%, 03/01/28 (Call 03/01/23)^(a)(b)		13,905		10,673,339


				877,522,415

Toys, Games & Hobbies — 0.2%
Mattel Inc.
3.38%, 04/01/26 (Call 04/01/23)^(a)(b)		8,298		7,535,663
3.75%, 04/01/29 (Call 04/01/24)^(a)(b)		9,009		8,027,019
5.88%, 12/15/27 (Call 12/15/22)^(a)(b)		6,238		6,230,202


				21,792,884

Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45
(Call 06/15/25)^(a)(b)(c)		6,192		5,820,478
Fortress Transportation and Infrastructure Investors LLC
5.50%, 05/01/28 (Call 05/01/24)^(a)(b)		13,172		11,278,525
6.50%, 10/01/25 (Call 10/03/22)^(a)(b)		8,853		8,255,423
9.75%, 08/01/27 (Call 08/01/23)^(a)(b)		5,388		5,398,776


				30,753,202


Total Long-Term Investments — 97.4% (Cost: $14,319,201,573)				12,355,010,674


Short-Term Securities

Money Market Funds — 25.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.42%^(f)(g)(h)		3,052,332		3,053,247,432
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.07%^(f)(g)		140,600		140,600,000


Total Short-Term Securities — 25.1% (Cost: $3,192,576,836)				3,193,847,432


Total Investments in Securities — 122.5% (Cost: $17,511,778,409)				15,548,858,106

Liabilities in Excess of Other Assets — (22.5)%				(2,860,911,039	)


Net Assets — 100.0%			$	12,687,947,067

^(a)	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.

^(b)	All or a portion of this security is on loan.

^(c)	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.

^(d)	Perpetual security with no stated maturity date.

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended August 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.1%
Omnicom Group Inc., 2.60%, 08/01/31 (Call 05/01/31)^(a)	$	14,105	$	11,782,588
Omnicom Group Inc./Omnicom Capital Inc., 3.60%, 04/15/26 (Call 01/15/26)		13,659		13,309,609

				25,092,197

Aerospace & Defense — 2.3%
Boeing Co. (The)
2.20%, 02/04/26 (Call 02/04/23)		49,050		44,946,394
2.70%, 02/01/27 (Call 12/01/26)^(a)		11,239		10,194,247
2.75%, 02/01/26 (Call 01/01/26)^(a)		9,143		8,563,310
2.95%, 02/01/30 (Call 11/01/29)^(a)		9,462		8,078,247
3.20%, 03/01/29 (Call 12/01/28)		9,830		8,698,458
3.25%, 02/01/28 (Call 12/01/27)		9,184		8,340,226
3.25%, 02/01/35 (Call 11/01/34)		10,172		7,826,430
3.60%, 05/01/34 (Call 02/01/34)		8,252		6,712,203
3.63%, 02/01/31 (Call 11/01/30)^(a)		14,743		13,050,868
3.75%, 02/01/50 (Call 08/01/49)		12,705		9,194,044
3.90%, 05/01/49 (Call 11/01/48)		7,707		5,631,029
3.95%, 08/01/59 (Call 02/01/59)		11,280		7,853,158
5.04%, 05/01/27 (Call 03/01/27)		18,506		18,456,039
5.15%, 05/01/30 (Call 02/01/30)^(a)		46,380		45,591,508
5.71%, 05/01/40 (Call 11/01/39)^(a)		35,021		33,442,068
5.81%, 05/01/50 (Call 11/01/49)		61,840		59,070,013
5.93%, 05/01/60 (Call 11/01/59)		35,735		33,970,434
General Dynamics Corp.
3.50%, 04/01/27 (Call 02/01/27)^(a)		9,866		9,651,447
3.63%, 04/01/30 (Call 01/01/30)^(a)		15,118		14,570,438
3.75%, 05/15/28 (Call 02/15/28)^(a)		14,902		14,700,801
4.25%, 04/01/40 (Call 10/01/39)		6,424		6,164,975
4.25%, 04/01/50 (Call 10/01/49)^(a)		7,867		7,532,251
L3Harris Technologies Inc., 4.40%, 06/15/28 (Call 03/15/28)		18,901		18,584,075
Lockheed Martin Corp.
2.80%, 06/15/50 (Call 12/15/49)		6,817		5,068,001
3.55%, 01/15/26 (Call 10/15/25)^(a)		7,702		7,644,878
3.80%, 03/01/45 (Call 09/01/44)		10,016		8,815,502
3.90%, 06/15/32 (Call 03/15/32)^(a)		12,313		12,070,005
4.07%, 12/15/42^(a)		12,716		11,738,231
4.09%, 09/15/52 (Call 03/15/52)^(a)		16,858		15,566,649
4.15%, 06/15/53 (Call 12/15/52)^(a)		12,604		11,753,584
4.70%, 05/15/46 (Call 11/15/45)^(a)		13,332		13,363,844
Northrop Grumman Corp.
3.20%, 02/01/27 (Call 11/01/26)^(a)		6,498		6,267,474
3.25%, 01/15/28 (Call 10/15/27)^(a)		26,361		25,043,741
4.03%, 10/15/47 (Call 04/15/47)		21,555		18,943,114
4.40%, 05/01/30 (Call 02/01/30)^(a)		8,541		8,525,174
4.75%, 06/01/43^(a)		13,689		13,152,963
5.25%, 05/01/50 (Call 11/01/49)^(a)		11,671		12,245,923
Raytheon Technologies Corp.
1.90%, 09/01/31 (Call 06/01/31)		11,304		9,121,105
2.25%, 07/01/30 (Call 04/01/30)		14,723		12,563,447
2.38%, 03/15/32 (Call 12/15/31)^(a)		13,182		11,059,956
2.82%, 09/01/51 (Call 03/01/51)		14,686		10,270,951
3.03%, 03/15/52 (Call 09/15/51)		12,632		9,172,997
3.13%, 05/04/27 (Call 02/04/27)		11,716		11,191,694
3.13%, 07/01/50 (Call 01/01/50)		9,396		6,942,834
3.50%, 03/15/27 (Call 12/15/26)^(a)		13,169		12,760,878
3.75%, 11/01/46 (Call 05/01/46)		11,724		9,681,267


Security	Par (000)		Value

Aerospace & Defense (continued)
4.13%, 11/16/28 (Call 08/16/28)	$	30,795	$	30,162,806
4.15%, 05/15/45 (Call 11/16/44)		8,054		7,094,002
4.35%, 04/15/47 (Call 10/15/46)^(a)		12,202		11,112,836
4.45%, 11/16/38 (Call 05/16/38)		8,705		8,157,069
4.50%, 06/01/42		36,296		34,120,980
4.63%, 11/16/48 (Call 05/16/48)^(a)		20,522		19,425,530
Teledyne Technologies Inc., 2.75%, 04/01/31 (Call 01/01/31)^(a)		13,341		11,098,841

				784,958,939

Agriculture — 1.5%
Altria Group Inc.
2.45%, 02/04/32 (Call 11/04/31)		14,426		10,904,107
3.40%, 05/06/30 (Call 02/06/30)		13,905		12,072,477
3.40%, 02/04/41 (Call 08/04/40)		14,517		9,860,515
3.70%, 02/04/51 (Call 08/04/50)		12,301		7,989,714
3.88%, 09/16/46 (Call 03/16/46)		17,981		12,401,440
4.00%, 02/04/61 (Call 08/04/60)		10,039		6,719,508
4.25%, 08/09/42		10,904		8,116,192
4.40%, 02/14/26 (Call 12/14/25)^(a)		15,168		15,094,893
4.80%, 02/14/29 (Call 11/14/28)^(a)		15,146		14,665,055
5.38%, 01/31/44^(a)		17,856		15,591,645
5.80%, 02/14/39 (Call 08/14/38)		20,327		18,731,613
5.95%, 02/14/49 (Call 08/14/48)^(a)		26,687		23,919,094
Archer-Daniels-Midland Co.
2.50%, 08/11/26 (Call 05/11/26)^(a)		9,326		8,865,204
2.70%, 09/15/51 (Call 03/15/51)		5,679		4,251,323
2.90%, 03/01/32 (Call 12/01/31)^(a)		6,151		5,558,215
3.25%, 03/27/30 (Call 12/27/29)^(a)		14,290		13,473,738
BAT Capital Corp.
2.26%, 03/25/28 (Call 01/25/28)^(a)		19,420		16,430,786
2.73%, 03/25/31 (Call 12/25/30)^(a)		14,305		11,450,157
3.22%, 09/06/26 (Call 07/06/26)^(a)		12,340		11,525,949
3.56%, 08/15/27 (Call 05/15/27)		34,685		31,885,060
3.73%, 09/25/40 (Call 03/25/40)		13,086		9,153,997
3.98%, 09/25/50 (Call 03/25/50)^(a)		9,669		6,475,529
4.39%, 08/15/37 (Call 02/15/37)		26,865		21,245,019
4.54%, 08/15/47 (Call 02/15/47)		24,607		17,978,246
4.70%, 04/02/27 (Call 02/02/27)^(a)		11,562		11,261,690
4.74%, 03/16/32 (Call 12/16/31)^(a)		9,458		8,486,997
4.76%, 09/06/49 (Call 03/06/49)^(a)		10,102		7,604,989
4.91%, 04/02/30 (Call 01/02/30)^(a)		10,079		9,489,755
BAT International Finance PLC
1.67%, 03/25/26 (Call 02/25/26)^(a)		12,931		11,521,363
4.45%, 03/16/28 (Call 02/16/28)		12,689		12,056,936
Bunge Ltd. Finance Corp., 2.75%, 05/14/31 (Call 02/14/31)^(a)		12,472		10,472,435
Philip Morris International Inc.
0.88%, 05/01/26 (Call 04/01/26)		9,081		8,073,274
1.75%, 11/01/30 (Call 08/01/30)^(a)		8,942		6,911,224
2.10%, 05/01/30 (Call 02/01/30)		8,429		6,777,225
2.75%, 02/25/26 (Call 11/25/25)^(a)		9,042		8,596,543
3.38%, 08/15/29 (Call 05/15/29)^(a)		8,297		7,469,209
3.88%, 08/21/42		8,766		6,628,836
4.13%, 03/04/43		9,959		7,753,982
4.25%, 11/10/44^(a)		11,685		9,200,593
4.38%, 11/15/41		8,853		7,319,058
4.88%, 11/15/43^(a)		6,786		5,828,571
6.38%, 05/16/38		18,463		19,111,882


Security	Par (000)		Value

Agriculture (continued)
Reynolds American Inc.
5.70%, 08/15/35 (Call 02/15/35)	$	9,292	$	8,602,269
5.85%, 08/15/45 (Call 02/15/45)		21,064		17,958,402

				505,484,709

Airlines — 0.1%
Southwest Airlines Co., 5.13%, 06/15/27 (Call 04/15/27)^(a)		22,410		22,874,678


Apparel — 0.2%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		10,589		10,065,946
2.75%, 03/27/27 (Call 01/27/27)^(a)		14,754		14,161,608
2.85%, 03/27/30 (Call 12/27/29)^(a)		22,412		20,544,975
3.25%, 03/27/40 (Call 09/27/39)^(a)		12,709		10,765,748
3.38%, 03/27/50 (Call 09/27/49)^(a)		15,306		12,751,680
3.88%, 11/01/45 (Call 05/01/45)^(a)		6,334		5,728,310
VF Corp., 2.95%, 04/23/30 (Call 01/23/30)^(a)		9,553		8,328,672

				82,346,939

Auto Manufacturers — 1.3%
American Honda Finance Corp.
1.00%, 09/10/25^(a)		7,250		6,628,289
1.30%, 09/09/26^(a)		11,278		10,156,584
2.00%, 03/24/28^(a)		10,928		9,683,697
Cummins Inc., 1.50%, 09/01/30 (Call 06/01/30)^(a)		7,232		5,867,743
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)^(a)		10,977		10,491,697
5.00%, 10/01/28 (Call 07/01/28)^(a)		9,394		9,109,785
5.00%, 04/01/35^(a)		7,278		6,505,608
5.15%, 04/01/38 (Call 10/01/37)		11,080		9,728,054
5.20%, 04/01/45^(a)		12,171		10,151,954
5.40%, 10/15/29 (Call 08/15/29)^(a)		4,960		4,818,342
5.40%, 04/01/48 (Call 10/01/47)^(a)		7,252		6,283,485
5.60%, 10/15/32 (Call 07/15/32)		8,711		8,344,547
5.95%, 04/01/49 (Call 10/01/48)^(a)		8,181		7,583,897
6.13%, 10/01/25 (Call 09/01/25)^(a)		15,247		15,702,396
6.25%, 10/02/43^(a)		16,127		15,440,349
6.60%, 04/01/36 (Call 10/01/35)		11,033		11,174,527
6.75%, 04/01/46 (Call 10/01/45)^(a)		9,656		9,761,219
6.80%, 10/01/27 (Call 08/01/27)		9,796		10,375,654
General Motors Financial Co. Inc.
1.25%, 01/08/26 (Call 12/08/25)^(a)		17,042		15,024,902
1.50%, 06/10/26 (Call 05/10/26)		15,616		13,708,089
2.35%, 02/26/27 (Call 01/26/27)^(a)		9,905		8,784,814
2.35%, 01/08/31 (Call 10/08/30)^(a)		9,875		7,647,061
2.40%, 04/10/28 (Call 02/10/28)^(a)		12,180		10,310,583
2.40%, 10/15/28 (Call 08/15/28)		6,121		5,096,261
2.70%, 08/20/27 (Call 06/20/27)		10,889		9,681,700
2.70%, 06/10/31 (Call 03/10/31)		11,453		9,006,386
3.10%, 01/12/32 (Call 10/12/31)^(a)		12,812		10,352,157
3.60%, 06/21/30 (Call 03/21/30)		12,980		11,203,775
4.00%, 10/06/26 (Call 07/06/26)^(a)		9,064		8,721,273
4.30%, 04/06/29 (Call 02/06/29)^(a)		8,925		8,201,914
4.35%, 01/17/27 (Call 10/17/26)		11,393		10,994,235
5.00%, 04/09/27 (Call 03/09/27)		17,337		17,135,024
5.25%, 03/01/26 (Call 12/01/25)		12,935		13,018,715
Honda Motor Co. Ltd.
2.53%, 03/10/27 (Call 02/10/27)^(a)		8,194		7,659,319
2.97%, 03/10/32 (Call 12/10/31)^(a)		12,827		11,489,999
Mercedes-Benz Finance North America LLC, 8.50%, 01/18/31^(a)		17,542		22,156,881


Security	Par (000)		Value

Auto Manufacturers (continued)
Toyota Motor Corp., 1.34%, 03/25/26 (Call 02/25/26)^(a)	$	13,522	$	12,397,798
Toyota Motor Credit Corp.
0.80%, 10/16/25^(a)		10,890		9,886,363
1.13%, 06/18/26^(a)		10,683		9,641,409
1.90%, 01/13/27^(a)		9,062		8,331,947
1.90%, 04/06/28^(a)		7,974		7,093,890
2.15%, 02/13/30^(a)		8,422		7,305,592
3.05%, 03/22/27^(a)		15,700		15,062,459
3.20%, 01/11/27^(a)		7,484		7,236,684
3.38%, 04/01/30^(a)		10,918		10,304,341
4.45%, 06/29/29^(a)		9,817		9,894,629

				465,156,027

Auto Parts & Equipment — 0.1%
Aptiv PLC, 3.10%, 12/01/51 (Call 06/01/51)		14,244		8,789,098
Aptiv PLC/Aptiv Corp.
3.25%, 03/01/32 (Call 12/01/31)^(a)		9,573		8,058,121
4.15%, 05/01/52 (Call 11/01/51)^(a)		8,710		6,461,683
BorgWarner Inc., 2.65%, 07/01/27 (Call 05/01/27)		10,402		9,459,067
Magna International Inc., 2.45%, 06/15/30 (Call 03/15/30)^(a)		9,502		8,112,464

				40,880,433

Banks — 23.5%
Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25		2,721		2,692,021
Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25		3,555		3,217,391
Banco Santander SA
1.72%, 09/14/27 (Call 09/14/26)^(b)		20,097		17,303,043
1.85%, 03/25/26		17,763		15,785,975
2.75%, 12/03/30^(a)		18,417		14,229,412
2.96%, 03/25/31^(a)		9,474		7,723,383
3.31%, 06/27/29^(a)		8,835		7,942,517
3.49%, 05/28/30^(a)		13,922		11,935,196
3.80%, 02/23/28^(a)		9,996		9,135,953
4.18%, 03/24/28 (Call 03/24/27)^(b)		20,369		19,068,853
4.25%, 04/11/27		7,806		7,472,264
4.38%, 04/12/28^(a)		13,143		12,358,082
5.29%, 08/18/27		1,504		1,470,552
Bank of America Corp.
1.20%, 10/24/26 (Call 10/24/25), (SOFR + 1.010%)^(a)(b)		18,212		16,286,320
1.73%, 07/22/27 (Call 07/22/26), (SOFR + 0.960%)^(b)		46,247		41,029,728
1.90%, 07/23/31 (Call 07/23/30), (SOFR + 1.530%)^(b)		21,516		17,094,927
1.92%, 10/24/31 (Call 10/24/30), (SOFR + 1.370%)^(a)(b)		20,039		15,855,089
2.09%, 06/14/29 (Call 06/14/28), (SOFR + 1.060%)^(b)		22,060		18,785,740
2.30%, 07/21/32 (Call 07/21/31), (SOFR + 1.220%)^(b)		28,724		22,883,572
2.50%, 02/13/31 (Call 02/13/30), (3 mo. LIBOR US + 0.990%)^(b)		27,964		23,438,485
2.55%, 02/04/28 (Call 02/04/27), (SOFR + 1.050%)^(b)		16,931		15,347,989
2.57%, 10/20/32 (Call 10/20/31), (SOFR + 1.210%)^(b)		28,559		23,279,692
2.59%, 04/29/31 (Call 04/29/30), (SOFR + 2.150%)^(b)		22,497		18,979,221


Security	Par (000)		Value

Banks (continued)
2.68%, 06/19/41 (Call 06/19/40), (SOFR + 1.930%)^(b)	$	39,940	$	28,500,158
2.69%, 04/22/32 (Call 04/22/31),
(SOFR + 1.320%)^(b)		37,463		31,093,582
2.83%, 10/24/51 (Call 10/24/50),
(SOFR + 1.880%)^(b)		7,700		5,225,983
2.88%, 10/22/30 (Call 10/22/29),
(3 mo. LIBOR US + 1.190%)^(b)		14,399		12,513,126
2.97%, 02/04/33 (Call 02/04/32),
(SOFR + 1.330%)^(b)		32,512		27,335,943
2.97%, 07/21/52 (Call 07/21/51),
(SOFR + 1.560%)^(b)		18,501		12,965,455
3.19%, 07/23/30 (Call 07/23/29),
(3 mo. LIBOR US + 1.180%)^(b)		17,279		15,364,459
3.25%, 10/21/27 (Call 10/21/26)^(a)		18,201		17,178,430
3.31%, 04/22/42 (Call 04/22/41),
(SOFR + 1.580%)^(a)(b)		29,163		22,646,671
3.42%, 12/20/28 (Call 12/20/27),
(3 mo. LIBOR US + 1.040%)^(a)(b)		46,600		43,178,055
3.50%, 04/19/26		17,525		17,081,831
3.56%, 04/23/27 (Call 04/23/26),
(3 mo. LIBOR US + 1.060%)^(b)		23,391		22,344,737
3.59%, 07/21/28 (Call 07/21/27),
(3 mo. LIBOR US + 1.370%)^(b)		16,542		15,565,948
3.71%, 04/24/28 (Call 04/24/27),
(3 mo. LIBOR US + 1.512%)^(b)		16,424		15,577,821
3.82%, 01/20/28 (Call 01/20/27),
(3 mo. LIBOR US + 1.575%)^(b)		18,950		18,135,887
3.95%, 01/23/49 (Call 01/23/48),
(3 mo. LIBOR US + 1.19%)^(b)		10,016		8,517,185
3.97%, 03/05/29 (Call 03/05/28),
(3 mo. LIBOR US + 1.070%)^(a)(b)		20,414		19,327,038
3.97%, 02/07/30 (Call 02/07/29),
(3 mo. LIBOR US + 1.210%)^(a)(b)		23,249		21,831,157
4.08%, 04/23/40 (Call 04/23/39),
(3 mo. LIBOR US + 1.320%)^(b)		13,639		11,862,460
4.08%, 03/20/51 (Call 03/20/50),
(3 mo. LIBOR US + 3.150%)^(a)(b)		46,030		39,297,417
4.24%, 04/24/38 (Call 04/24/37),
(3 mo. LIBOR US + 1.814%)^(a)(b)		17,767		16,015,753
4.25%, 10/22/26		13,757		13,552,717
4.27%, 07/23/29 (Call 07/23/28),
(3 mo. LIBOR US + 1.310%)^(b)		23,254		22,264,982
4.33%, 03/15/50 (Call 03/15/49),
(3 mo. LIBOR US + 1.520%)^(b)		21,542		19,232,435
4.38%, 04/27/28 (Call 04/27/27),
(SOFR + 1.580%)^(b)		18,391		18,043,432
4.44%, 01/20/48 (Call 01/20/47),
(3 mo. LIBOR US + 1.990%)^(b)		17,317		15,828,642
4.45%, 03/03/26		14,756		14,694,009
4.57%, 04/27/33 (Call 04/27/32),
(SOFR + 1.830%)^(a)(b)		32,372		30,941,947
4.95%, 07/22/28 (Call 07/22/27)^(b)		33,212		33,171,249
5.00%, 01/21/44^(a)		17,511		16,958,349
5.02%, 07/22/33 (Call 07/22/32)^(b)		43,253		42,812,460
5.88%, 02/07/42^(a)		11,550		12,574,822
6.11%, 01/29/37^(a)		18,590		19,681,707
7.75%, 05/14/38^(a)		16,548		20,424,533
Series L, 4.18%, 11/25/27 (Call 11/25/26)^(a)		14,313		13,950,804


Security	Par (000)		Value

Banks (continued)
Series N, 1.66%, 03/11/27 (Call 03/11/26),
(SOFR + 0.910%)^(b)	$	22,614	$	20,256,090
Series N, 2.65%, 03/11/32 (Call 03/11/31),
(SOFR + 1.220%)^(b)		15,215		12,622,442
Series N, 3.48%, 03/13/52 (Call 03/13/51),
(SOFR + 1.650%)^(b)		9,990		7,740,700
Bank of America N.A., 6.00%, 10/15/36^(a)		11,912		12,819,249
Bank of Montreal
0.95%, 01/22/27 (Call 01/22/26),
(SOFR + 0.603%)^(b)		14,795		13,179,979
1.25%, 09/15/26^(a)		17,816		15,881,617
2.65%, 03/08/27^(a)		17,795		16,566,723
Bank of New York Mellon Corp. (The)
2.05%, 01/26/27 (Call 12/26/26)^(a)		10,484		9,650,959
2.45%, 08/17/26 (Call 05/17/26)^(a)		11,175		10,511,584
2.80%, 05/04/26 (Call 02/04/26)^(a)		6,916		6,674,240
3.25%, 05/16/27 (Call 02/16/27)^(a)		10,324		9,935,895
3.30%, 08/23/29 (Call 05/23/29)^(a)		7,613		7,098,373
3.40%, 01/29/28 (Call 10/29/27)		7,941		7,595,294
3.85%, 04/28/28^(a)		12,238		11,994,204
Bank of Nova Scotia (The)
1.05%, 03/02/26^(a)		10,105		9,067,463
1.30%, 09/15/26		14,693		13,041,164
1.35%, 06/24/26^(a)		9,711		8,716,600
1.95%, 02/02/27		13,848		12,462,771
2.45%, 02/02/32		6,838		5,675,679
2.70%, 08/03/26^(a)		13,684		12,884,120
4.50%, 12/16/25^(a)		11,922		11,889,977
Barclays PLC
2.28%, 11/24/27 (Call 11/24/26)^(b)		19,446		17,062,797
2.65%, 06/24/31 (Call 06/24/30),
(SOFR + 1.900%)^(b)		8,865		7,044,224
2.67%, 03/10/32 (Call 03/10/31)^(b)		10,916		8,460,050
2.89%, 11/24/32 (Call 11/24/31)^(b)		13,309		10,444,923
3.33%, 11/24/42 (Call 11/24/41)^(b)		12,392		8,898,304
4.34%, 01/10/28 (Call 01/10/27)^(a)		13,736		13,004,951
4.38%, 01/12/26		21,152		20,733,732
4.84%, 05/09/28 (Call 05/07/27)^(a)		20,507		19,368,156
4.95%, 01/10/47^(a)		14,911		13,622,162
4.97%, 05/16/29 (Call 05/16/28),
(3 mo. LIBOR US + 1.902%)^(b)		20,151		19,235,842
5.20%, 05/12/26		16,057		15,918,261
5.25%, 08/17/45^(a)		13,238		12,280,957
5.50%, 08/09/28		16,091		15,825,743
5.75%, 08/09/33^(a)		5,668		5,530,259
Canadian Imperial Bank of Commerce
1.25%, 06/22/26		9,406		8,403,730
3.45%, 04/07/27^(a)		11,096		10,636,833
3.60%, 04/07/32 (Call 03/07/32)^(a)		9,299		8,491,625
Citigroup Inc.
1.12%, 01/28/27 (Call 01/28/26),
(SOFR + 0.765%)^(b)		26,655		23,544,148
1.46%, 06/09/27 (Call 06/09/26),
(SOFR + 0.770%)^(b)		27,733		24,457,417
2.52%, 11/03/32 (Call 11/03/31),
(SOFR + 1.177%)^(b)		17,763		14,406,685
2.56%, 05/01/32 (Call 05/01/31),
(SOFR + 1.167%)^(b)		29,928		24,490,840
2.57%, 06/03/31 (Call 06/03/30),
(SOFR + 2.107%)^(b)		36,243		30,274,111


Security	Par (000)		Value

Banks (continued)
2.67%, 01/29/31 (Call 01/29/30),
(SOFR + 1.146%)^(b)	$	20,713	$	17,597,125
2.90%, 11/03/42 (Call 11/03/41),
(SOFR + 1.379%)^(a)(b)		14,702		10,720,022
2.98%, 11/05/30 (Call 11/05/29),
(SOFR + 1.422%)^(a)(b)		23,010		20,077,355
3.06%, 01/25/33 (Call 01/25/32),
(SOFR + 1.351%)^(a)(b)		35,847		30,301,111
3.07%, 02/24/28 (Call 02/24/27),
(SOFR + 1.280%)^(b)		24,688		22,839,254
3.20%, 10/21/26 (Call 07/21/26)		29,731		28,324,132
3.40%, 05/01/26^(a)		19,644		18,954,653
3.52%, 10/27/28 (Call 10/27/27),
(3 mo. LIBOR US + 1.151%)^(b)		21,464		19,934,201
3.67%, 07/24/28 (Call 07/24/27),
(3 mo. LIBOR US + 1.390%)^(b)		25,575		23,990,583
3.70%, 01/12/26^(a)		14,305		13,967,579
3.79%, 03/17/33 (Call 03/17/32),
(SOFR + 1.939%)^(b)		37,668		33,834,125
3.88%, 01/24/39 (Call 01/24/38),
(3 mo. LIBOR US + 1.168%)^(a)(b)		13,884		12,051,025
3.89%, 01/10/28 (Call 01/10/27),
(3 mo. LIBOR US + 1.563%)^(b)		26,490		25,370,752
3.98%, 03/20/30 (Call 03/20/29),
(3 mo. LIBOR US + 1.338%)^(a)(b)		26,498		24,783,707
4.08%, 04/23/29 (Call 04/23/28),
(3 mo. LIBOR US + 1.192%)^(a)(b)		18,234		17,318,003
4.13%, 07/25/28^(a)		19,620		18,692,327
4.28%, 04/24/48 (Call 04/24/47),
(3 mo. LIBOR US + 1.839%)^(a)(b)		10,595		9,474,036
4.30%, 11/20/26		9,263		9,151,293
4.41%, 03/31/31 (Call 03/31/30),
(SOFR + 3.914%)^(b)		41,569		39,556,848
4.45%, 09/29/27^(a)		40,354		39,401,468
4.60%, 03/09/26^(a)		14,200		14,176,009
4.65%, 07/30/45^(a)		12,441		11,497,761
4.65%, 07/23/48 (Call 06/23/48)^(a)		24,862		23,255,930
4.66%, 05/24/28 (Call 05/24/27),
(SOFR + 1.887%)^(a)(b)		16,093		15,862,083
4.75%, 05/18/46^(a)		19,214		17,271,295
4.91%, 05/24/33 (Call 05/24/32)^(a)(b)		28,359		27,770,335
5.30%, 05/06/44		8,592		8,310,572
5.32%, 03/26/41 (Call 03/26/40),
(SOFR + 4.548%)^(b)		14,194		14,137,000
5.50%, 09/13/25^(a)		9,874		10,111,398
5.88%, 01/30/42^(a)		13,561		14,426,898
6.63%, 06/15/32^(a)		12,847		13,923,439
6.68%, 09/13/43^(a)		10,421		11,799,421
8.13%, 07/15/39^(a)		21,515		28,080,365
Citizens Bank NA, 4.58%, 08/09/28		119		117,666
Citizens Financial Group Inc., 3.25%, 04/30/30
(Call 01/30/30)		12,467		11,020,746
Cooperatieve Rabobank U.A.
3.75%, 07/21/26		17,074		16,301,005
5.25%, 05/24/41^(a)		16,032		17,416,349
5.25%, 08/04/45^(a)		11,964		11,585,701
5.75%, 12/01/43^(a)		15,008		15,512,215
Credit Suisse AG, 5.00%, 07/09/27		10,664		10,357,351
Credit Suisse AG/New York NY, 1.25%, 08/07/26^(a)		25,725		22,165,018


Security	Par (000)		Value

Banks (continued)
Credit Suisse Group AG
4.55%, 04/17/26	$	28,003	$	26,895,633
4.88%, 05/15/45		15,983		12,845,917
Deutsche Bank AG/New York NY
1.69%, 03/19/26^(a)		15,171		13,670,573
2.13%, 11/24/26 (Call 11/24/25),
(SOFR + 1.870%)^(b)		17,484		15,423,322
2.31%, 11/16/27 (Call 11/16/26),
(SOFR + 1.219%)^(b)		24,884		21,182,973
2.55%, 01/07/28 (Call 01/07/27),
(SOFR + 1.318%)^(b)		20,091		17,122,836
3.04%, 05/28/32 (Call 05/28/31),
(SOFR + 1.718%)^(b)		4,741		3,680,983
3.55%, 09/18/31 (Call 09/18/30),
(SOFR + 3.043%)^(a)(b)		19,987		16,357,769
Discover Bank
3.45%, 07/27/26 (Call 04/27/26)		12,403		11,758,777
4.65%, 09/13/28 (Call 06/13/28)		14,833		14,258,866
Fifth Third Bancorp.
2.55%, 05/05/27 (Call 04/05/27)^(a)		8,703		8,027,441
4.77%, 07/28/30 (Call 07/28/29)^(b)		12,904		12,795,732
8.25%, 03/01/38^(a)		11,205		14,428,209
Fifth Third Bank NA, 3.85%, 03/15/26 (Call 02/15/26)		13,925		13,550,605
Goldman Sachs Group Inc. (The)
1.09%, 12/09/26 (Call 12/09/25),
(SOFR + 0.789%)^(b)		24,594		22,018,123
1.43%, 03/09/27 (Call 03/09/26),
(SOFR + 0.798%)^(b)		31,694		28,184,739
1.54%, 09/10/27 (Call 09/10/26),
(SOFR + 0.818%)^(a)(b)		28,812		25,319,937
1.95%, 10/21/27 (Call 10/21/26),
(SOFR + 0.913%)^(a)(b)		44,553		39,614,393
1.99%, 01/27/32 (Call 01/27/31),
(SOFR + 1.090%)^(a)(b)		25,799		20,433,272
2.38%, 07/21/32 (Call 07/21/31),
(SOFR + 1.248%)^(b)		40,354		32,575,125
2.60%, 02/07/30 (Call 11/07/29)		18,556		15,897,736
2.62%, 04/22/32 (Call 04/22/31),
(SOFR + 1.281%)^(b)		35,848		29,531,901
2.64%, 02/24/28 (Call 02/24/27),
(SOFR + 1.114%)^(b)		29,959		27,174,170
2.65%, 10/21/32 (Call 10/21/31),
(SOFR + 1.264%)^(b)		29,001		23,797,406
2.91%, 07/21/42 (Call 07/21/41),
(SOFR + 1.472%)^(b)		17,283		12,572,015
3.10%, 02/24/33 (Call 02/24/32),
(SOFR + 1.410%)^(b)		41,304		35,131,092
3.21%, 04/22/42 (Call 04/22/41),
(SOFR + 1.513%)^(a)(b)		25,308		19,309,564
3.44%, 02/24/43 (Call 02/24/42),
(SOFR + 1.632%)^(b)		21,204		16,673,719
3.50%, 11/16/26 (Call 11/16/25)^(a)		27,329		26,257,260
3.62%, 03/15/28 (Call 03/15/27),
(SOFR + 1.846%)^(b)		32,485		30,704,104
3.69%, 06/05/28 (Call 06/05/27),
(3 mo. LIBOR US + 1.510%)^(a)(b)		22,876		21,626,758
3.75%, 02/25/26 (Call 11/25/25)^(a)		17,654		17,300,118
3.80%, 03/15/30 (Call 12/15/29)^(a)		25,402		23,426,339
3.81%, 04/23/29 (Call 04/23/28),
(3 mo. LIBOR US + 1.158%)^(b)		24,714		23,143,005


Security	Par (000)		Value

Banks (continued)
3.85%, 01/26/27 (Call 01/26/26)^(a)	$	29,641	$	28,717,256
4.02%, 10/31/38 (Call 10/31/37),
(3 mo. LIBOR US + 1.373%)^(b)		27,538		24,001,454
4.22%, 05/01/29 (Call 05/01/28),
(3 mo. LIBOR US + 1.301%)^(a)(b)		35,473		33,898,510
4.25%, 10/21/25^(a)		15,141		14,927,303
4.41%, 04/23/39 (Call 04/23/38),
(3 mo. LIBOR US + 1.430%)^(a)(b)		15,393		13,997,855
4.48%, 08/23/28		21,180		20,654,611
4.75%, 10/21/45 (Call 04/21/45)^(a)		18,486		17,263,759
4.80%, 07/08/44 (Call 01/08/44)^(a)		18,180		17,067,329
5.15%, 05/22/45		21,344		20,196,316
5.95%, 01/15/27^(a)		11,268		11,817,760
6.13%, 02/15/33^(a)		14,669		15,816,904
6.25%, 02/01/41^(a)		26,987		30,245,902
6.75%, 10/01/37		60,488		66,912,225
HSBC Holdings PLC
1.59%, 05/24/27 (Call 05/24/26),
(SOFR + 1.290%)^(b)		21,649		18,841,053
2.01%, 09/22/28 (Call 09/22/27),
(SOFR + 1.732%)^(b)		21,703		18,339,239
2.21%, 08/17/29 (Call 08/17/28),
(SOFR + 1.285%)^(b)		22,252		18,436,178
2.25%, 11/22/27 (Call 11/22/26),
(SOFR + 1.100%)^(a)(b)		24,781		21,860,894
2.36%, 08/18/31 (Call 08/18/30),
(SOFR + 1.947%)^(a)(b)		12,951		10,218,655
2.80%, 05/24/32 (Call 05/24/31),
(SOFR + 1.187%)^(b)		31,170		24,744,682
2.85%, 06/04/31 (Call 06/04/30),
(SOFR + 2.387%)^(b)		15,974		13,188,826
2.87%, 11/22/32 (Call 11/22/31),
(SOFR + 1.410%)^(a)(b)		17,055		13,506,433
3.90%, 05/25/26^(a)		24,201		23,539,507
3.97%, 05/22/30 (Call 05/22/29),
(3 mo. LIBOR US + 1.610%)^(b)		33,127		29,900,841
4.04%, 03/13/28 (Call 03/13/27),
(3 mo. LIBOR US + 1.546%)^(b)		25,445		23,957,979
4.29%, 09/12/26 (Call 09/12/25),
(3 mo. LIBOR US + 1.348%)^(b)		23,305		22,652,565
4.30%, 03/08/26^(a)		29,441		29,093,225
4.38%, 11/23/26^(a)		14,632		14,288,866
4.58%, 06/19/29 (Call 06/19/28),
(3 mo. LIBOR US + 1.535%)^(b)		36,033		33,933,822
4.76%, 06/09/28 (Call 06/09/27)^(b)		27,360		26,379,013
4.95%, 03/31/30		26,084		25,330,971
5.21%, 08/11/28		1,749		1,707,366
5.25%, 03/14/44^(a)		10,735		9,793,159
5.40%, 08/11/33		1,430		1,358,344
6.10%, 01/14/42^(a)		8,865		9,608,097
6.50%, 05/02/36^(a)		22,878		23,848,567
6.50%, 09/15/37		29,588		30,805,733
6.80%, 06/01/38^(a)		17,184		18,384,649
Huntington Bancshares Inc., 4.44%, 08/04/28
(Call 08/04/27)^(b)		5,430		5,308,076
Huntington Bancshares Inc./OH, 2.55%, 02/04/30 (Call 11/04/29)		9,501		8,118,453
Huntington National Bank (The), 4.55%, 05/17/28 (Call 05/17/27)^(a)(b)		7,093		7,039,772


Security	Par (000)		Value

Banks (continued)
ING Groep NV
1.73%, 04/01/27 (Call 04/01/26),
(SOFR + 1.005%)^(b)	$	14,806	$	13,124,850
2.73%, 04/01/32 (Call 04/01/31),
(SOFR + 1.316%)^(a)(b)		11,713		9,656,461
3.95%, 03/29/27^(a)		14,615		13,997,464
4.02%, 03/28/28 (Call 03/28/27),
(SOFR + 1.830%)^(b)		13,165		12,480,798
4.05%, 04/09/29^(a)		9,917		9,276,345
4.25%, 03/28/33 (Call 03/28/32),
(SOFR + 2.070%)^(a)(b)		12,758		11,769,356
4.55%, 10/02/28		12,791		12,366,891
JPMorgan Chase & Co.
1.04%, 02/04/27 (Call 02/04/26),
(SOFR + 0.695%)^(a)(b)		18,360		16,188,715
1.05%, 11/19/26 (Call 11/19/25),
(SOFR + 0.800%)^(a)(b)		25,660		22,780,265
1.47%, 09/22/27 (Call 09/22/26),
(SOFR + 0.765%)^(b)		26,429		23,177,739
1.58%, 04/22/27 (Call 04/22/26),
(SOFR + 0.885%)^(b)		33,748		30,107,725
1.76%, 11/19/31 (Call 11/19/30),
(SOFR + 1.105%)^(a)(b)		13,442		10,563,424
1.95%, 02/04/32 (Call 02/04/31),
(SOFR + 1.065%)^(b)		24,904		19,684,298
2.07%, 06/01/29 (Call 06/01/28),
(SOFR + 1.015%)^(b)		17,702		15,115,014
2.18%, 06/01/28 (Call 06/01/27),
(SOFR + 1.890%)^(b)		15,181		13,455,975
2.52%, 04/22/31 (Call 04/22/30),
(SOFR + 2.040%)^(a)(b)		23,030		19,455,348
2.53%, 11/19/41 (Call 11/19/40),
(SOFR + 1.510%)^(b)		17,093		11,973,819
2.55%, 11/08/32 (Call 11/08/31),
(SOFR + 1.180%)^(b)		25,232		20,731,144
2.58%, 04/22/32 (Call 04/22/31),
(SOFR + 1.250%)^(b)		30,898		25,530,538
2.74%, 10/15/30 (Call 10/15/29),
(SOFR + 1.510%)^(a)(b)		34,268		29,730,399
2.95%, 10/01/26 (Call 07/01/26)^(a)		29,845		28,387,343
2.95%, 02/24/28 (Call 02/24/27),
(SOFR + 1.170%)^(b)		16,779		15,528,656
2.96%, 01/25/33 (Call 01/25/32),
(SOFR + 1.260%)^(b)		42,315		35,939,018
3.11%, 04/22/41 (Call 04/22/40),
(SOFR + 2.460%)^(a)(b)		17,800		13,724,450
3.11%, 04/22/51 (Call 04/22/50),
(SOFR + 2.440%)^(b)		23,493		16,896,624
3.16%, 04/22/42 (Call 04/22/41),
(SOFR + 2.460%)^(b)		21,244		16,347,337
3.20%, 06/15/26 (Call 03/15/26)^(a)		15,627		15,035,446
3.30%, 04/01/26 (Call 01/01/26)^(a)		20,684		20,046,910
3.33%, 04/22/52 (Call 04/22/51),
(SOFR + 1.580%)^(b)		32,924		24,749,073
3.51%, 01/23/29 (Call 01/23/28),
(3 mo. LIBOR US + 0.945%)^(b)		21,475		19,909,485
3.54%, 05/01/28 (Call 05/01/27),
(3 mo. LIBOR US + 1.380%)^(a)(b)		22,907		21,622,719
3.63%, 12/01/27 (Call 12/01/26)		11,174		10,681,456


Security	Par (000)		Value

Banks (continued)
3.70%, 05/06/30 (Call 05/06/29),
(3 mo. LIBOR US + 1.160%)^(b)	$	26,031	$	24,086,234
3.78%, 02/01/28 (Call 02/01/27),
(3 mo. LIBOR US + 1.337%)^(b)		23,488		22,457,927
3.88%, 07/24/38 (Call 07/24/37),
(3 mo. LIBOR US + 1.360%)^(a)(b)		26,127		22,888,156
3.90%, 01/23/49 (Call 01/23/48),
(3 mo. LIBOR US + 1.220%)^(b)		17,177		14,305,483
3.96%, 01/29/27 (Call 01/29/26),
(3 mo. LIBOR US + 1.245%)^(b)		20,237		19,694,482
3.96%, 11/15/48 (Call 11/15/47),
(3 mo. LIBOR US + 1.380%)^(b)		35,098		29,287,807
4.01%, 04/23/29 (Call 04/23/28),
(3 mo. LIBOR US + 1.120%)^(b)		21,277		20,155,306
4.03%, 07/24/48 (Call 07/24/47),
(3 mo. LIBOR US + 1.460%)^(b)		15,180		12,954,780
4.13%, 12/15/26^(a)		17,164		16,945,082
4.20%, 07/23/29 (Call 07/23/28),
(3 mo. LIBOR US + 1.260%)^(a)(b)		22,710		21,734,424
4.25%, 10/01/27^(a)		14,730		14,511,033
4.26%, 02/22/48 (Call 02/22/47),
(3 mo. LIBOR US + 1.580%)^(a)(b)		19,393		17,199,338
4.32%, 04/26/28 (Call 04/26/27),
(SOFR + 1.560%)^(b)		31,353		30,625,541
4.45%, 12/05/29 (Call 12/05/28),
(3 mo. LIBOR US + 1.330%)^(a)(b)		21,964		21,195,939
4.49%, 03/24/31 (Call 03/24/30),
(SOFR + 3.790%)^(a)(b)		25,410		24,624,226
4.57%, 06/14/30 (Call 06/14/29)^(a)(b)		23,100		22,408,067
4.59%, 04/26/33 (Call 04/26/32),
(SOFR + 1.800%)^(b)		24,388		23,488,268
4.85%, 07/25/28 (Call 07/25/27)^(b)		25,307		25,244,155
4.85%, 02/01/44^(a)		10,128		10,016,768
4.91%, 07/25/33 (Call 07/25/32)^(a)(b)		15,576		15,449,211
4.95%, 06/01/45^(a)		16,792		15,990,479
5.40%, 01/06/42^(a)		12,326		12,561,379
5.50%, 10/15/40^(a)		11,011		11,479,090
5.60%, 07/15/41^(a)		17,186		18,087,923
5.63%, 08/16/43^(a)		11,414		11,694,281
6.40%, 05/15/38^(a)		24,384		27,638,213
KeyBank N.A./Cleveland OH, 4.90%, 08/08/32^(a)		10,600		10,117,697
KeyCorp
2.25%, 04/06/27^(a)		10,073		9,065,064
2.55%, 10/01/29^(a)		8,198		7,021,678
4.10%, 04/30/28^(a)		5,811		5,651,633
4.79%, 06/01/33 (Call 06/01/32)^(a)(b)		8,473		8,217,360
Lloyds Banking Group PLC
1.00%, 08/11/33		1,081		1,026,469
1.63%, 05/11/27 (Call 05/11/26)^(a)(b)		15,195		13,424,345
3.57%, 11/07/28 (Call 11/07/27),
(3 mo. LIBOR US + 1.205%)^(b)		24,350		22,515,846
3.75%, 01/11/27		16,512		15,731,217
3.75%, 03/18/28 (Call 03/18/27)^(b)		15,135		14,296,492
4.34%, 01/09/48^(a)		15,102		12,182,418
4.38%, 03/22/28		15,984		15,412,511
4.55%, 08/16/28		12,175		11,768,101
4.58%, 12/10/25		13,543		13,298,840
4.65%, 03/24/26^(a)		17,792		17,362,752
5.30%, 12/01/45^(a)		6,687		6,041,430


Security	Par (000)		Value

Banks (continued)
Mitsubishi UFJ Financial Group Inc.
1.54%, 07/20/27 (Call 07/20/26)^(a)(b)	$	20,127	$	17,771,016
1.64%, 10/13/27 (Call 10/13/26)^(a)(b)		18,857		16,569,169
2.05%, 07/17/30^(a)		15,547		12,664,198
2.31%, 07/20/32 (Call 07/20/31)^(b)		19,223		15,460,350
2.34%, 01/19/28 (Call 01/19/27)^(b)		12,728		11,417,827
2.49%, 10/13/32 (Call 10/13/31)^(b)		8,038		6,539,992
2.56%, 02/25/30^(a)		15,047		12,860,493
2.76%, 09/13/26^(a)		10,920		10,186,005
2.85%, 01/19/33 (Call 01/19/32)^(b)		13,547		11,336,396
3.20%, 07/18/29^(a)		20,340		18,390,909
3.29%, 07/25/27^(a)		7,438		7,013,823
3.68%, 02/22/27^(a)		9,059		8,724,761
3.74%, 03/07/29		13,870		13,099,745
3.75%, 07/18/39^(a)		13,202		11,260,513
3.85%, 03/01/26		19,641		19,213,064
3.96%, 03/02/28^(a)		10,887		10,500,345
4.05%, 09/11/28^(a)		7,996		7,695,365
4.08%, 04/19/28 (Call 04/19/27)^(b)		9,077		8,757,195
5.02%, 07/20/28 (Call 07/20/27)^(b)		18,640		18,743,034
5.13%, 07/20/33 (Call 07/20/32)^(b)		21,502		21,574,995
Mizuho Financial Group Inc.
1.23%, 05/22/27 (Call 05/22/26)^(b)		20,993		18,268,871
1.55%, 07/09/27 (Call 07/09/26)^(a)(b)		16,271		14,263,476
1.98%, 09/08/31 (Call 09/08/30),
(SOFR + 1.532%)^(b)		7,809		6,149,590
2.20%, 07/10/31 (Call 07/10/30),
(SOFR + 1.772%)^(a)(b)		13,667		10,986,595
2.56%, 09/13/31^(a)		14,234		11,191,223
2.84%, 09/13/26^(a)		9,472		8,756,660
3.15%, 07/16/30 (Call 07/16/29),
(3 mo. LIBOR US + 1.130%)^(a)(b)		14,107		12,428,701
3.17%, 09/11/27		7,361		6,794,627
4.02%, 03/05/28^(a)		10,472		9,996,395
4.25%, 09/11/29 (Call 09/11/28),
(3 mo. LIBOR US + 1.270%)^(b)		9,753		9,225,017
Morgan Stanley
0.99%, 12/10/26 (Call 12/10/25),
(SOFR + 0.720%)^(b)		25,788		22,823,886
1.51%, 07/20/27 (Call 07/20/26),
(SOFR + 0.858%)^(b)		31,053		27,486,377
1.59%, 05/04/27 (Call 05/04/26),
(SOFR + 0.879%)^(b)		39,326		35,083,090
1.79%, 02/13/32 (Call 02/13/31),
(SOFR + 1.034%)^(b)		25,961		20,367,163
1.93%, 04/28/32 (Call 04/28/31),
(SOFR + 1.020%)^(b)		23,278		18,425,359
2.24%, 07/21/32 (Call 07/21/31),
(SOFR + 1.178%)^(a)(b)		37,653		30,354,060
2.48%, 01/21/28 (Call 01/21/27),
(SOFR + 1.000%)^(b)		24,002		21,800,779
2.51%, 10/20/32 (Call 10/20/31),
(SOFR + 1.200%)^(b)		27,358		22,425,498
2.70%, 01/22/31 (Call 01/22/30),
(SOFR + 1.143%)^(b)		34,533		29,863,700
2.80%, 01/25/52 (Call 01/25/51),
(SOFR + 1.430%)^(b)		21,503		14,610,293
2.94%, 01/21/33 (Call 01/21/32),
(SOFR + 1.290%)^(a)(b)		26,685		22,718,251
3.13%, 07/27/26^(a)		33,897		32,310,319


Security	Par (000)		Value

Banks (continued)
3.22%, 04/22/42 (Call 04/22/41),
(SOFR + 1.485%)^(b)	$	23,107	$	17,990,868
3.59%, 07/22/28 (Call 07/22/27),
(3 mo. LIBOR US + 1.340%)^(b)		31,539		29,793,547
3.62%, 04/01/31 (Call 04/01/30),
(SOFR + 3.120%)^(b)		29,651		27,217,963
3.63%, 01/20/27		29,473		28,659,899
3.77%, 01/24/29 (Call 01/24/28),
(3 mo. LIBOR US + 1.140%)^(a)(b)		29,528		27,850,497
3.88%, 01/27/26		28,394		27,957,428
3.95%, 04/23/27^(a)		21,142		20,523,309
3.97%, 07/22/38 (Call 07/22/37),
(3 mo. LIBOR US + 1.455%)^(b)		25,543		22,721,180
4.21%, 04/20/28 (Call 04/20/27),
(SOFR + 1.610%)^(b)		28,354		27,649,100
4.30%, 01/27/45^(a)		26,950		24,108,432
4.35%, 09/08/26		22,357		22,108,146
4.38%, 01/22/47		24,253		22,267,327
4.43%, 01/23/30 (Call 01/23/29),
(3 mo. LIBOR US + 1.628%)^(a)(b)		31,202		30,352,086
4.46%, 04/22/39 (Call 04/22/38),
(3 mo. LIBOR US + 0.408%)^(a)(b)		12,806		11,844,295
4.89%, 07/20/33 (Call 07/20/32)^(b)		19,965		19,860,928
5.00%, 11/24/25^(a)		16,342		16,593,410
5.60%, 03/24/51 (Call 03/24/50),
(SOFR + 4.480%)^(b)		19,858		21,456,984
6.38%, 07/24/42^(a)		22,556		25,677,168
7.25%, 04/01/32^(a)		12,544		14,736,731
National Australia Bank Ltd., 3.91%, 06/09/27^(a)		10,623		10,459,669
National Australia Bank Ltd./New York
2.50%, 07/12/26^(a)		11,034		10,361,293
3.38%, 01/14/26^(a)		4,014		3,904,847
Natwest Group PLC
4.89%, 05/18/29 (Call 05/18/28),
(3 mo. LIBOR US + 1.754%)^(b)		17,049		16,400,541
5.08%, 01/27/30 (Call 01/27/29),
(3 mo. LIBOR US + 1.905%)^(b)		17,932		17,376,587
NatWest Group PLC
1.64%, 06/14/27 (Call 06/14/26)^(a)(b)		19,890		17,399,261
3.07%, 05/22/28 (Call 05/22/27)^(a)(b)		8,414		7,602,657
4.45%, 05/08/30 (Call 05/08/29),
(3 mo. LIBOR US + 1.871%)^(b)		17,059		15,868,075
4.80%, 04/05/26		13,658		13,561,792
5.52%, 09/30/28 (Call 09/30/27)^(b)		13,009		13,011,332
Northern Trust Corp.
1.95%, 05/01/30 (Call 02/01/30)^(a)		5,703		4,824,480
3.95%, 10/30/25		1,073		1,068,694
4.00%, 05/10/27 (Call 04/10/27)^(a)		17,417		17,352,468
PNC Bank NA
2.70%, 10/22/29^(a)		10,364		9,019,194
3.10%, 10/25/27 (Call 09/25/27)^(a)		12,736		12,112,922
4.05%, 07/26/28		14,938		14,414,005
PNC Financial Services Group Inc. (The)
2.31%, 04/23/32 (Call 04/23/31),
(SOFR + 0.979%)^(a)(b)		7,229		6,081,252
2.55%, 01/22/30 (Call 10/24/29)^(a)		22,682		19,839,691
2.60%, 07/23/26 (Call 05/23/26)^(a)		11,236		10,617,841
3.15%, 05/19/27 (Call 04/19/27)^(a)		11,332		10,875,090
3.45%, 04/23/29 (Call 01/23/29)^(a)		16,493		15,619,198


Security	Par (000)		Value

Banks (continued)
Royal Bank of Canada
0.88%, 01/20/26	$	16,426	$	14,737,149
1.15%, 07/14/26		10,408		9,258,423
1.20%, 04/27/26		22,276		20,020,513
1.40%, 11/02/26		14,139		12,588,185
2.30%, 11/03/31		15,443		12,812,753
3.63%, 05/04/27^(a)		15,497		14,949,516
3.88%, 05/04/32^(a)		14,126		13,321,434
4.24%, 08/03/27		1,234		1,216,071
4.65%, 01/27/26		13,203		13,285,182
Santander Holdings USA Inc.
2.49%, 01/06/28 (Call 01/06/27),
(SOFR + 1.249%)^(b)		11,556		10,069,609
3.24%, 10/05/26 (Call 08/05/26)^(a)		13,035		12,115,185
4.40%, 07/13/27 (Call 04/14/27)		14,960		14,425,009
Santander UK Group Holdings PLC
1.53%, 08/21/26 (Call 08/21/25)^(b)		6,517		5,818,844
1.67%, 06/14/27 (Call 06/14/26),
(SOFR + 0.989%)^(b)		15,328		13,269,909
2.47%, 01/11/28 (Call 01/11/27),
(SOFR + 1.220%)^(b)		11,271		9,861,561
3.82%, 11/03/28 (Call 11/03/27),
(3 mo. LIBOR US + 1.400%)^(b)		10,683		9,722,083
State Street Corp.
2.20%, 03/03/31^(a)		10,749		8,945,310
2.40%, 01/24/30^(a)		7,768		6,822,459
2.65%, 05/19/26^(a)		6,641		6,394,324
4.16%, 08/04/33		1,640		1,583,237
Sumitomo Mitsui Financial Group Inc.
0.95%, 01/12/26		11,314		10,074,878
1.40%, 09/17/26^(a)		20,221		17,823,321
1.90%, 09/17/28		25,583		21,429,446
2.13%, 07/08/30^(a)		17,741		14,496,765
2.14%, 09/23/30		10,418		8,288,034
2.22%, 09/17/31^(a)		8,449		6,794,934
2.63%, 07/14/26		24,096		22,456,347
2.75%, 01/15/30^(a)		12,507		10,794,737
2.93%, 09/17/41		8,693		6,304,293
3.01%, 10/19/26^(a)		15,410		14,513,643
3.04%, 07/16/29		34,283		30,350,428
3.35%, 10/18/27^(a)		5,286		4,949,964
3.36%, 07/12/27^(a)		15,872		15,016,252
3.45%, 01/11/27^(a)		11,603		11,056,037
3.54%, 01/17/28^(a)		9,255		8,772,218
3.78%, 03/09/26^(a)		15,921		15,550,829
3.94%, 07/19/28		10,661		10,179,067
Toronto-Dominion Bank (The)
0.75%, 09/11/25^(a)		8,867		8,004,127
0.75%, 01/06/26^(a)		13,591		12,149,992
1.20%, 06/03/26^(a)		10,749		9,615,375
1.25%, 09/10/26		22,592		20,061,122
1.95%, 01/12/27^(a)		14,055		12,742,094
2.00%, 09/10/31		8,250		6,680,290
2.80%, 03/10/27		15,078		14,136,973
3.20%, 03/10/32^(a)		16,349		14,522,122
4.11%, 06/08/27^(a)		22,606		22,357,083
4.46%, 06/08/32		16,457		16,145,907
Truist Bank
2.25%, 03/11/30 (Call 12/11/29)^(a)		13,169		10,972,008
3.30%, 05/15/26 (Call 04/15/26)^(a)		14,369		13,803,071


Security	Par (000)		Value

Banks (continued)
3.80%, 10/30/26 (Call 09/30/26)^(a)	$	10,318	$	10,088,285
Truist Financial Corp.
1.13%, 08/03/27 (Call 06/03/27)^(a)		8,169		7,020,316
1.27%, 03/02/27 (Call 03/02/26),
(SOFR + 0.609%)^(a)(b)		11,873		10,663,901
1.89%, 06/07/29 (Call 06/07/28),
(SOFR + 0.862%)^(b)		10,490		8,975,731
1.95%, 06/05/30 (Call 03/05/30)^(a)		5,994		4,951,134
4.12%, 06/06/28 (Call 06/06/27)^(a)(b)		9,789		9,602,196
4.92%, 07/28/33 (Call 07/28/32)^(a)(b)		9,080		8,716,259
U.S. Bancorp.
1.38%, 07/22/30 (Call 04/22/30)		8,413		6,723,387
2.22%, 01/27/28 (Call 01/27/27),
(SOFR + 0.730%)^(b)		13,157		12,053,799
2.68%, 01/27/33 (Call 01/27/32),
(SOFR + 1.020%)^(a)(b)		12,085		10,374,332
3.00%, 07/30/29 (Call 04/30/29)		10,633		9,599,791
3.10%, 04/27/26 (Call 03/27/26)^(a)		9,480		9,129,326
3.90%, 04/26/28 (Call 03/24/28)^(a)		9,739		9,575,364
3.95%, 11/17/25 (Call 10/17/25)^(a)		7,380		7,386,739
4.55%, 07/22/28 (Call 07/22/27)^(a)(b)		15,375		15,424,978
4.97%, 07/22/33 (Call 07/22/32)^(a)(b)		11,840		11,680,071
Series V, 2.38%, 07/22/26 (Call 06/22/26)^(a)		12,167		11,480,438
Series X, 3.15%, 04/27/27 (Call 03/27/27)^(a)		10,207		9,828,107
Wachovia Corp., 5.50%, 08/01/35		16,611		16,791,731
Wells Fargo & Co.
2.39%, 06/02/28 (Call 06/02/27),
(SOFR + 2.100%)^(b)		32,175		28,770,029
2.57%, 02/11/31 (Call 02/11/30),
(SOFR + 1.262%)^(a)(b)		27,836		23,608,394
2.88%, 10/30/30 (Call 10/30/29),
(SOFR + 1.432%)^(a)(b)		34,913		30,512,576
3.00%, 04/22/26		37,616		35,777,872
3.00%, 10/23/26		37,594		35,482,853
3.07%, 04/30/41 (Call 04/30/40),
(SOFR + 2.530%)^(a)(b)		38,684		29,576,053
3.20%, 06/17/27 (Call 06/17/26),
(3 mo. LIBOR US + 1.170%)^(b)		26,157		24,639,669
3.35%, 03/02/33 (Call 03/02/32),
(SOFR + 1.500%)^(a)(b)		40,442		35,163,110
3.53%, 03/24/28 (Call 03/24/27),
(SOFR + 1.510%)^(b)		40,714		38,480,475
3.55%, 09/29/25^(a)		19,083		18,737,535
3.58%, 05/22/28 (Call 05/22/27),
(3 mo. LIBOR US + 1.310%)^(a)(b)		31,593		29,796,549
3.90%, 05/01/45		21,464		18,000,286
4.10%, 06/03/26		24,683		24,161,905
4.15%, 01/24/29 (Call 10/24/28)^(a)		26,722		26,014,802
4.30%, 07/22/27^(a)		22,801		22,400,348
4.40%, 06/14/46^(a)		21,531		18,816,447
4.48%, 04/04/31 (Call 04/04/30),
(SOFR + 4.032%)^(b)		23,783		22,866,960
4.61%, 04/25/53 (Call 04/25/52)^(b)		34,697		31,867,921
4.65%, 11/04/44		19,293		17,383,207
4.75%, 12/07/46		21,326		19,463,161
4.81%, 07/25/28 (Call 07/25/27)^(b)		31,477		31,216,572
4.90%, 07/25/33 (Call 07/25/32)^(b)		48,480		47,730,300
4.90%, 11/17/45		21,355		19,739,618
5.01%, 04/04/51 (Call 04/04/50),
(SOFR + 4.502%)^(b)		61,804		60,291,984


Security	Par (000)		Value

Banks (continued)
5.38%, 11/02/43^(a)	$	20,021	$	19,934,611
5.61%, 01/15/44^(a)		24,164		24,449,128
Wells Fargo Bank N.A.
5.85%, 02/01/37^(a)		11,786		12,432,793
6.60%, 01/15/38^(a)		15,942		18,238,019
Westpac Banking Corp.
1.15%, 06/03/26		12,048		10,798,977
1.95%, 11/20/28		13,299		11,571,828
2.15%, 06/03/31^(a)		10,881		9,132,363
2.65%, 01/16/30^(a)		7,427		6,611,323
2.70%, 08/19/26^(a)		10,627		10,048,995
2.85%, 05/13/26^(a)		16,124		15,377,073
2.96%, 11/16/40		8,738		6,213,368
3.13%, 11/18/41		13,483		9,703,938
3.35%, 03/08/27		9,996		9,624,197
3.40%, 01/25/28^(a)		8,187		7,831,460
4.04%, 08/26/27^(a)		7,567		7,483,565
4.42%, 07/24/39		11,009		9,626,107
5.41%, 08/10/33		4,000		3,852,233


				8,169,132,623

Beverages — 3.1%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)		33,705		33,122,888
4.70%, 02/01/36 (Call 08/01/35)		58,458		56,343,843
4.90%, 02/01/46 (Call 08/01/45)		103,780		98,354,620
Anheuser-Busch InBev Finance Inc.
4.00%, 01/17/43^(a)		8,831		7,393,280
4.63%, 02/01/44^(a)		9,554		8,727,303
4.90%, 02/01/46 (Call 08/01/45)^(a)		15,062		14,297,468
Anheuser-Busch InBev Worldwide Inc.
3.50%, 06/01/30 (Call 03/01/30)^(a)		21,274		20,015,232
3.75%, 07/15/42		12,698		10,434,998
4.00%, 04/13/28 (Call 01/13/28)^(a)		23,617		23,349,608
4.35%, 06/01/40 (Call 12/01/39)^(a)		10,678		9,728,853
4.38%, 04/15/38 (Call 10/15/37)^(a)		14,191		13,066,264
4.44%, 10/06/48 (Call 04/06/48)		16,631		14,783,056
4.50%, 06/01/50 (Call 12/01/49)^(a)		23,407		21,190,844
4.60%, 04/15/48 (Call 10/15/47)^(a)		26,646		24,115,102
4.60%, 06/01/60 (Call 12/01/59)^(a)		11,186		9,929,104
4.75%, 01/23/29 (Call 10/23/28)		42,879		43,729,771
4.75%, 04/15/58 (Call 10/15/57)		18,109		16,479,175
4.90%, 01/23/31 (Call 10/23/30)^(a)		9,538		9,819,244
4.95%, 01/15/42^(a)		14,457		13,949,822
5.45%, 01/23/39 (Call 07/23/38)^(a)		22,193		22,714,733
5.55%, 01/23/49 (Call 07/23/48)^(a)		41,509		42,899,273
5.80%, 01/23/59 (Call 07/23/58)^(a)		18,716		19,833,156
8.20%, 01/15/39		15,512		20,295,110
Coca-Cola Co. (The)
1.00%, 03/15/28^(a)		12,671		10,944,846
1.38%, 03/15/31^(a)		13,798		11,216,713
1.45%, 06/01/27^(a)		15,187		13,732,562
1.50%, 03/05/28^(a)		10,765		9,621,950
1.65%, 06/01/30^(a)		14,178		11,964,729
2.00%, 03/05/31^(a)		10,128		8,679,479
2.13%, 09/06/29^(a)		13,109		11,671,767
2.25%, 01/05/32^(a)		17,827		15,497,282
2.50%, 06/01/40^(a)		12,095		9,318,944
2.50%, 03/15/51		19,958		14,170,559
2.60%, 06/01/50		17,805		12,956,688


Security	Par (000)		Value

Beverages (continued)
2.75%, 06/01/60^(a)	$	10,501	$	7,438,381
2.88%, 05/05/41^(a)		10,958		8,915,499
3.00%, 03/05/51^(a)		17,833		13,953,977
3.38%, 03/25/27^(a)		10,016		9,899,980
3.45%, 03/25/30^(a)		17,025		16,513,736
Constellation Brands Inc.
2.25%, 08/01/31 (Call 05/01/31)^(a)		9,266		7,546,152
3.15%, 08/01/29 (Call 05/01/29)		12,540		11,279,137
Diageo Capital PLC
1.38%, 09/29/25 (Call 08/29/25)		5,328		4,932,985
2.00%, 04/29/30 (Call 01/29/30)		17,489		14,971,775
2.13%, 04/29/32 (Call 01/29/32)^(a)		9,777		8,118,764
2.38%, 10/24/29 (Call 07/24/29)^(a)		10,388		9,225,834
Keurig Dr Pepper Inc.
3.20%, 05/01/30 (Call 02/01/30)^(a)		12,092		10,825,437
3.80%, 05/01/50 (Call 11/01/49)^(a)		7,367		5,692,990
3.95%, 04/15/29 (Call 02/15/29)^(a)		14,260		13,490,553
4.05%, 04/15/32 (Call 01/15/32)^(a)		10,829		10,098,090
4.50%, 04/15/52 (Call 10/15/51)		12,329		10,732,221
4.60%, 05/25/28 (Call 02/25/28)		6,616		6,636,383
Molson Coors Beverage Co.
3.00%, 07/15/26 (Call 04/15/26)		19,509		18,281,423
4.20%, 07/15/46 (Call 01/15/46)		17,992		14,873,411
5.00%, 05/01/42^(a)		14,015		13,016,256
PepsiCo Inc.
1.40%, 02/25/31 (Call 11/25/30)^(a)		8,653		7,071,044
1.63%, 05/01/30 (Call 02/01/30)		11,193		9,456,158
1.95%, 10/21/31 (Call 07/21/31)		9,076		7,682,102
2.38%, 10/06/26 (Call 07/06/26)		8,244		7,822,995
2.63%, 07/29/29 (Call 04/29/29)^(a)		12,111		11,098,291
2.63%, 10/21/41 (Call 04/21/41)		12,312		9,654,537
2.75%, 03/19/30 (Call 12/19/29)		16,441		15,055,749
2.75%, 10/21/51 (Call 04/21/51)		13,818		10,422,988
2.85%, 02/24/26 (Call 11/24/25)^(a)		9,248		8,988,655
2.88%, 10/15/49 (Call 04/15/49)		12,793		9,924,351
3.00%, 10/15/27 (Call 07/15/27)		14,324		13,825,933
3.45%, 10/06/46 (Call 04/06/46)		9,624		8,330,049
3.60%, 02/18/28 (Call 01/18/28)^(a)		17,825		17,506,218
3.63%, 03/19/50 (Call 09/19/49)		11,457		10,189,685
3.90%, 07/18/32 (Call 04/18/32)^(a)		18,575		18,202,086
4.45%, 04/14/46 (Call 10/14/45)		5,098		5,128,775


				1,071,150,866

Biotechnology — 1.7%
Amgen Inc.
1.65%, 08/15/28 (Call 06/15/28)^(a)		14,046		12,118,678
2.00%, 01/15/32 (Call 10/15/31)		13,397		10,881,650
2.20%, 02/21/27 (Call 12/21/26)		19,127		17,574,829
2.30%, 02/25/31 (Call 11/25/30)^(a)		10,479		8,877,507
2.45%, 02/21/30 (Call 11/21/29)		14,689		12,854,243
2.60%, 08/19/26 (Call 05/19/26)^(a)		11,517		10,898,372
2.77%, 09/01/53 (Call 03/01/53)^(a)		9,604		6,366,101
2.80%, 08/15/41 (Call 02/15/41)		13,899		10,381,887
3.00%, 02/22/29 (Call 12/22/28)		8,696		7,979,875
3.00%, 01/15/52 (Call 07/15/51)		16,329		11,415,445
3.15%, 02/21/40 (Call 08/21/39)		23,710		18,749,987
3.20%, 11/02/27 (Call 08/02/27)^(a)		10,365		9,904,926
3.35%, 02/22/32 (Call 11/22/31)		10,076		9,134,457
3.38%, 02/21/50 (Call 08/21/49)		23,154		17,546,641
4.05%, 08/18/29		18,495		17,943,625
4.20%, 03/01/33		15,995		15,411,195


Security	Par (000)		Value

Biotechnology (continued)
4.20%, 02/22/52 (Call 08/22/51)^(a)	$	9,774	$	8,518,245
4.40%, 05/01/45 (Call 11/01/44)		25,957		23,266,375
4.40%, 02/22/62 (Call 08/22/61)		13,043		11,308,658
4.56%, 06/15/48 (Call 12/15/47)		15,010		13,902,675
4.66%, 06/15/51 (Call 12/15/50)^(a)		35,803		33,556,659
4.88%, 03/01/53		9,489		9,188,613
Biogen Inc.
2.25%, 05/01/30 (Call 02/01/30)^(a)		18,767		15,334,319
3.15%, 05/01/50 (Call 11/01/49)		17,767		12,104,309
4.05%, 09/15/25 (Call 06/15/25)^(a)		11,683		11,610,520
5.20%, 09/15/45 (Call 03/15/45)^(a)		7,710		7,405,254
Gilead Sciences Inc.
1.20%, 10/01/27 (Call 08/01/27)		11,911		10,271,917
1.65%, 10/01/30 (Call 07/01/30)^(a)		16,224		13,187,716
2.60%, 10/01/40 (Call 04/01/40)		11,641		8,468,859
2.80%, 10/01/50 (Call 04/01/50)		15,994		10,907,454
2.95%, 03/01/27 (Call 12/01/26)^(a)		14,743		13,963,806
3.65%, 03/01/26 (Call 12/01/25)^(a)		28,216		27,722,248
4.00%, 09/01/36 (Call 03/01/36)^(a)		10,282		9,375,500
4.15%, 03/01/47 (Call 09/01/46)		19,349		16,830,548
4.50%, 02/01/45 (Call 08/01/44)		16,906		15,389,359
4.60%, 09/01/35 (Call 03/01/35)		9,446		9,189,894
4.75%, 03/01/46 (Call 09/01/45)		23,761		22,623,423
4.80%, 04/01/44 (Call 10/01/43)^(a)		18,211		17,305,443
5.65%, 12/01/41 (Call 06/01/41)^(a)		11,482		12,122,588
Regeneron Pharmaceuticals Inc.
1.75%, 09/15/30 (Call 06/15/30)		19,797		15,760,867
2.80%, 09/15/50 (Call 03/15/50)		7,660		5,122,899
Royalty Pharma PLC
1.20%, 09/02/25 (Call 08/02/25)^(a)		496		450,743
1.75%, 09/02/27 (Call 07/02/27)^(a)		11,393		9,884,005
2.20%, 09/02/30 (Call 06/02/30)		12,281		9,987,278
3.30%, 09/02/40 (Call 03/02/40)		11,463		8,509,944
3.55%, 09/02/50 (Call 03/02/50)		10,877		7,486,856


				588,796,392

Building Materials — 0.2%
Carrier Global Corp.
2.49%, 02/15/27 (Call 12/15/26)^(a)		4,820		4,437,289
2.70%, 02/15/31 (Call 11/15/30)		9,345		7,946,458
2.72%, 02/15/30 (Call 11/15/29)^(a)		21,199		18,314,399
3.38%, 04/05/40 (Call 10/05/39)^(a)		16,858		13,301,230
3.58%, 04/05/50 (Call 10/05/49)^(a)		21,235		16,136,997
Martin Marietta Materials Inc.
2.40%, 07/15/31 (Call 04/15/31)^(a)		11,261		9,274,230
3.20%, 07/15/51 (Call 01/15/51)		9,241		6,474,264


				75,884,867

Chemicals — 1.0%
Air Products and Chemicals Inc.
2.05%, 05/15/30 (Call 02/15/30)^(a)		10,549		9,107,377
2.70%, 05/15/40 (Call 11/15/39)^(a)		8,052		6,386,656
2.80%, 05/15/50 (Call 11/15/49)^(a)		9,935		7,388,077
Celanese U.S. Holdings LLC
6.17%, 07/15/27 (Call 06/15/27)		21,880		21,894,336
6.33%, 07/15/29 (Call 05/15/29)		13,577		13,497,762
6.38%, 07/15/32 (Call 04/15/32)^(a)		9,457		9,386,217
CF Industries Inc.
4.95%, 06/01/43		10,185		9,053,201
5.15%, 03/15/34		8,170		7,878,971
5.38%, 03/15/44		6,675		6,195,711


Security	Par (000)		Value

Chemicals (continued)
Dow Chemical Co. (The)
2.10%, 11/15/30 (Call 08/15/30)^(a)	$	6,320	$	5,164,865
3.60%, 11/15/50 (Call 05/15/50)^(a)		10,585		8,031,252
4.38%, 11/15/42 (Call 05/15/42)^(a)		10,689		9,268,771
5.25%, 11/15/41 (Call 05/15/41)^(a)		9,755		9,541,097
5.55%, 11/30/48 (Call 05/30/48)^(a)		8,163		8,219,681
7.38%, 11/01/29^(a)		10,666		12,217,956
DuPont de Nemours Inc.
4.49%, 11/15/25 (Call 09/15/25)^(a)		16,074		16,211,585
4.73%, 11/15/28 (Call 08/15/28)^(a)		22,579		22,769,117
5.32%, 11/15/38 (Call 05/15/38)^(a)		16,873		16,766,067
5.42%, 11/15/48 (Call 05/15/48)^(a)		22,645		22,269,134
Eastman Chemical Co., 4.65%, 10/15/44
(Call 04/15/44)^(a)		9,052		7,817,690
Ecolab Inc.
2.70%, 11/01/26 (Call 08/01/26)^(a)		5,548		5,336,063
2.70%, 12/15/51 (Call 06/15/51)^(a)		8,227		5,809,088
International Flavors & Fragrances Inc., 5.00%, 09/26/48 (Call 03/26/48)^(a)		5,075		4,669,166
LYB International Finance BV
4.88%, 03/15/44 (Call 09/15/43)^(a)		10,222		9,203,088
5.25%, 07/15/43^(a)		8,975		8,397,427
LYB International Finance III LLC
3.38%, 10/01/40 (Call 04/01/40)^(a)		9,891		7,501,853
3.63%, 04/01/51 (Call 10/01/50)		10,900		8,039,510
4.20%, 10/15/49 (Call 04/15/49)^(a)		8,504		6,826,044
4.20%, 05/01/50 (Call 11/01/49)		11,113		8,963,344
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)^(a)		10,915		9,170,161
Nutrien Ltd.
4.20%, 04/01/29 (Call 01/01/29)^(a)		8,442		8,180,602
5.00%, 04/01/49 (Call 10/01/48)^(a)		8,954		8,821,116
Sherwin-Williams Co. (The)
2.95%, 08/15/29 (Call 05/15/29)^(a)		11,019		9,887,718
3.45%, 06/01/27 (Call 03/01/27)^(a)		13,639		13,033,700
4.50%, 06/01/47 (Call 12/01/46)^(a)		12,435		11,102,465
Westlake Corp., 3.60%, 08/15/26 (Call 05/15/26)^(a)		8,068		7,787,167


				361,794,035

Commercial Services — 0.8%
Automatic Data Processing Inc.
1.25%, 09/01/30 (Call 06/01/30)		15,220		12,461,253
1.70%, 05/15/28 (Call 03/15/28)		11,768		10,546,251
3.38%, 09/15/25 (Call 06/15/25)^(a)		5,417		5,362,668
Equifax Inc., 2.35%, 09/15/31 (Call 06/15/31)^(a)		13,563		10,937,563
Global Payments Inc.
1.20%, 03/01/26 (Call 02/01/26)		12,840		11,322,209
2.15%, 01/15/27 (Call 12/15/26)^(a)		9,484		8,419,365
2.90%, 05/15/30 (Call 02/15/30)^(a)		10,675		8,960,149
2.90%, 11/15/31 (Call 08/15/31)		9,045		7,332,322
3.20%, 08/15/29 (Call 05/15/29)^(a)		12,039		10,510,730
4.15%, 08/15/49 (Call 02/15/49)^(a)		6,998		5,347,634
4.80%, 04/01/26 (Call 01/01/26)^(a)		8,177		8,106,668
5.40%, 08/15/32		3,384		3,314,404
5.95%, 08/15/52		4,711		4,572,021
Massachusetts Institute of Technology, 5.60%, 07/01/2111^(a)		7,043		8,140,345
PayPal Holdings Inc.
2.30%, 06/01/30 (Call 03/01/30)^(a)		14,226		12,221,039
2.65%, 10/01/26 (Call 08/01/26)^(a)		15,344		14,562,886
2.85%, 10/01/29 (Call 07/01/29)		14,613		13,232,390


Security	Par (000)		Value

Commercial Services (continued)
3.25%, 06/01/50 (Call 12/01/49)^(a)	$	9,821	$	7,310,581
4.40%, 06/01/32 (Call 03/01/32)^(a)		10,672		10,476,065
5.05%, 06/01/52 (Call 12/01/51)^(a)		10,013		9,770,294
Quanta Services Inc., 2.90%, 10/01/30 (Call 07/01/30)		14,960		12,719,625
RELX Capital Inc.
3.00%, 05/22/30 (Call 02/22/30)^(a)		2,005		1,791,155
4.00%, 03/18/29 (Call 12/18/28)^(a)		2,434		2,345,619
S&P Global Inc.
2.45%, 03/01/27 (Call 02/01/27)^(a)(c)		12,111		11,302,763
2.70%, 03/01/29 (Call 01/01/29)^(a)(c)		14,128		12,832,248
2.90%, 03/01/32 (Call 12/01/31)^(a)(c)		20,227		17,953,429
3.70%, 03/01/52 (Call 09/01/51)^(a)(c)		11,509		9,851,166
4.25%, 05/01/29 (Call 02/01/29)^(a)(c)		10,888		10,708,761


				262,411,603

Computers — 3.2%
Apple Inc.
0.70%, 02/08/26 (Call 01/08/26)		22,494		20,328,048
1.25%, 08/20/30 (Call 05/20/30)		11,984		9,783,712
1.40%, 08/05/28 (Call 06/05/28)		15,342		13,344,056
1.65%, 05/11/30 (Call 02/11/30)		18,008		15,279,721
1.65%, 02/08/31 (Call 11/08/30)		26,336		21,904,354
1.70%, 08/05/31 (Call 05/05/31)^(a)		9,755		8,109,319
2.05%, 09/11/26 (Call 07/11/26)		19,386		18,118,666
2.20%, 09/11/29 (Call 06/11/29)		17,573		15,675,663
2.38%, 02/08/41 (Call 08/08/40)^(a)		14,110		10,573,537
2.40%, 08/20/50 (Call 02/20/50)		17,881		12,405,092
2.45%, 08/04/26 (Call 05/04/26)		20,006		19,036,257
2.55%, 08/20/60 (Call 02/20/60)		16,198		10,862,934
2.65%, 05/11/50 (Call 11/11/49)		24,927		18,188,561
2.65%, 02/08/51 (Call 08/08/50)		28,738		20,915,965
2.70%, 08/05/51 (Call 02/05/51)		22,750		16,717,071
2.80%, 02/08/61 (Call 08/08/60)		16,262		11,412,693
2.85%, 08/05/61 (Call 02/05/61)		13,624		9,638,518
2.90%, 09/12/27 (Call 06/12/27)^(a)		18,237		17,449,847
2.95%, 09/11/49 (Call 03/11/49)^(a)		15,216		11,825,956
3.00%, 06/20/27 (Call 03/20/27)^(a)		8,090		7,856,802
3.00%, 11/13/27 (Call 08/13/27)		14,119		13,545,845
3.20%, 05/11/27 (Call 02/11/27)^(a)		18,592		18,124,093
3.25%, 02/23/26 (Call 11/23/25)^(a)		30,768		30,228,523
3.25%, 08/08/29		17,711		16,911,598
3.35%, 02/09/27 (Call 11/09/26)^(a)		22,374		22,001,131
3.35%, 08/08/32		17,111		16,174,329
3.45%, 02/09/45		19,633		16,838,786
3.75%, 09/12/47 (Call 03/12/47)		9,546		8,553,790
3.75%, 11/13/47 (Call 05/13/47)		11,637		10,443,251
3.85%, 05/04/43^(a)		30,473		27,858,529
3.85%, 08/04/46 (Call 02/04/46)		20,042		18,247,574
3.95%, 08/08/52		18,664		17,202,114
4.10%, 08/08/62		18,714		17,165,628
4.25%, 02/09/47 (Call 08/09/46)^(a)		8,988		8,692,348
4.38%, 05/13/45		23,445		22,868,893
4.45%, 05/06/44^(a)		9,173		9,085,329
4.50%, 02/23/36 (Call 08/23/35)^(a)		10,670		11,027,693
4.65%, 02/23/46 (Call 08/23/45)^(a)		41,623		42,465,728
Dell International LLC/EMC Corp.
3.38%, 12/15/41 (Call 06/15/41)^(a)(c)		12,400		8,693,392
3.45%, 12/15/51 (Call 06/15/51)^(c)		12,510		8,184,668
4.90%, 10/01/26 (Call 08/01/26)^(a)		16,969		17,036,525
5.30%, 10/01/29 (Call 07/01/29)^(a)		16,593		16,454,420
6.02%, 06/15/26 (Call 03/15/26)^(a)		46,421		48,197,188


Security	Par (000)		Value

Computers (continued)
6.20%, 07/15/30 (Call 04/15/30)	$	8,119	$	8,447,440
8.10%, 07/15/36 (Call 01/15/36)^(a)		10,645		12,369,406
8.35%, 07/15/46 (Call 01/15/46)^(a)		7,966		9,626,365
Hewlett Packard Enterprise Co.
1.75%, 04/01/26 (Call 03/01/26)^(a)		8,342		7,646,986
4.90%, 10/15/25 (Call 07/15/25)^(a)		19,695		20,006,687
6.20%, 10/15/35 (Call 04/15/35)^(a)		8,259		8,692,195
6.35%, 10/15/45 (Call 04/15/45)^(a)		15,719		15,681,326
HP Inc.
1.45%, 06/17/26 (Call 05/17/26)^(a)		11,953		10,679,391
2.65%, 06/17/31 (Call 03/17/31)		12,006		9,552,605
3.00%, 06/17/27 (Call 04/17/27)^(a)		9,709		8,991,465
3.40%, 06/17/30 (Call 03/17/30)^(a)		8,868		7,702,629
4.00%, 04/15/29 (Call 02/15/29)^(a)		10,292		9,645,268
4.20%, 04/15/32 (Call 01/15/32)		11,390		10,037,652
4.75%, 01/15/28 (Call 12/15/27)^(a)		12,243		12,040,982
5.50%, 01/15/33 (Call 10/15/32)^(a)		12,023		11,543,569
6.00%, 09/15/41^(a)		13,588		13,129,549
International Business Machines Corp.
1.70%, 05/15/27 (Call 03/15/27)^(a)		15,328		13,772,053
1.95%, 05/15/30 (Call 02/15/30)^(a)		8,992		7,501,759
2.95%, 05/15/50 (Call 11/15/49)		10,137		7,166,068
3.30%, 05/15/26^(a)		30,096		29,168,625
3.45%, 02/19/26^(a)		14,597		14,312,369
3.50%, 05/15/29^(a)		32,178		30,355,139
4.00%, 06/20/42		10,526		9,064,198
4.15%, 07/27/27 (Call 06/27/27)^(a)		13,437		13,360,836
4.15%, 05/15/39^(a)		24,020		21,593,384
4.25%, 05/15/49^(a)		32,706		28,814,774
4.40%, 07/27/32 (Call 04/27/32)^(a)		16,228		15,940,711
4.90%, 07/27/52 (Call 01/27/52)^(a)		3,260		3,139,788
Leidos Inc.
2.30%, 02/15/31 (Call 11/15/30)^(a)		11,574		9,087,237
4.38%, 05/15/30 (Call 02/15/30)		7,213		6,665,320
Western Digital Corp., 4.75%, 02/15/26
(Call 11/15/25)^(a)		21,538		20,733,618


				1,121,897,541

Cosmetics & Personal Care — 0.6%
GSK Consumer Healthcare Capital U.S. LLC
3.38%, 03/24/27 (Call 02/24/27)^(c)		19,164		18,003,509
3.38%, 03/24/29 (Call 01/24/29)^(a)(c)		12,528		11,375,048
3.63%, 03/24/32 (Call 12/24/31)^(c)		26,762		23,817,059
4.00%, 03/24/52 (Call 09/24/51)^(c)		10,784		8,746,517
Procter & Gamble Co. (The)
0.55%, 10/29/25		6,496		5,905,600
1.00%, 04/23/26		7,615		6,978,605
1.20%, 10/29/30		17,440		14,203,049
1.90%, 02/01/27^(a)		7,591		7,087,568
1.95%, 04/23/31^(a)		7,322		6,322,381
2.30%, 02/01/32^(a)		6,457		5,716,349
2.45%, 11/03/26^(a)		11,509		11,019,261
2.85%, 08/11/27^(a)		10,590		10,172,212
3.00%, 03/25/30		19,588		18,445,156
Unilever Capital Corp.
1.75%, 08/12/31 (Call 05/12/31)^(a)		13,411		10,998,997
2.13%, 09/06/29 (Call 06/06/29)^(a)		8,101		7,100,551
2.90%, 05/05/27 (Call 02/05/27)^(a)		9,400		8,977,873
3.50%, 03/22/28 (Call 12/22/27)^(a)		11,451		11,168,456


Security	Par (000)		Value

Cosmetics & Personal Care (continued)
5.90%, 11/15/32^(a)	$	11,556	$	13,139,346


				199,177,537

Diversified Financial Services — 3.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
1.75%, 01/30/26 (Call 12/30/25)		9,134		8,056,889
2.45%, 10/29/26 (Call 09/29/26)		38,679		34,029,494
3.00%, 10/29/28 (Call 08/29/28)^(a)		38,140		32,449,623
3.30%, 01/30/32 (Call 10/30/31)^(a)		40,072		32,332,971
3.40%, 10/29/33 (Call 07/29/33)^(a)		17,835		13,968,771
3.65%, 07/21/27 (Call 04/21/27)		11,476		10,457,422
3.85%, 10/29/41 (Call 04/29/41)^(a)		17,677		13,002,559
Air Lease Corp.
1.88%, 08/15/26 (Call 07/15/26)		15,957		13,967,805
2.20%, 01/15/27 (Call 12/15/26)^(a)		10,876		9,565,479
2.88%, 01/15/26 (Call 12/15/25)^(a)		13,628		12,569,118
2.88%, 01/15/32 (Call 10/15/31)^(a)		7,399		5,936,737
3.13%, 12/01/30 (Call 09/01/30)^(a)		8,409		7,041,768
3.75%, 06/01/26 (Call 04/01/26)^(a)		13,049		12,314,643
Ally Financial Inc.
2.20%, 11/02/28 (Call 09/02/28)^(a)		12,937		10,716,752
4.75%, 06/09/27 (Call 05/09/27)^(a)		7,987		7,805,376
8.00%, 11/01/31		22,134		24,720,801
American Express Co.
1.65%, 11/04/26 (Call 10/04/26)^(a)		12,089		10,914,662
2.55%, 03/04/27 (Call 02/01/27)		25,204		23,405,006
3.13%, 05/20/26 (Call 04/20/26)		16,339		15,763,486
3.30%, 05/03/27 (Call 04/03/27)^(a)		7,688		7,354,728
4.05%, 05/03/29 (Call 03/03/29)		11,888		11,547,504
4.05%, 12/03/42^(a)		8,762		7,942,857
4.20%, 11/06/25 (Call 10/06/25)^(a)		8,442		8,461,433
4.42%, 08/03/33 (Call 08/03/32)^(b)		13,620		13,153,243
Blackstone Private Credit Fund
2.63%, 12/15/26		15,820		13,353,792
3.25%, 03/15/27		14,334		12,309,417
Brookfield Finance Inc.
3.50%, 03/30/51 (Call 09/30/50)		8,432		6,105,771
3.90%, 01/25/28 (Call 10/25/27)		13,605		12,867,212
4.35%, 04/15/30 (Call 01/15/30)		8,829		8,345,748
4.70%, 09/20/47 (Call 03/20/47)^(a)		9,832		8,549,584
4.85%, 03/29/29 (Call 12/29/28)^(a)		12,328		12,098,583
Capital One Financial Corp.
3.65%, 05/11/27 (Call 04/11/27)^(a)		7,359		7,037,099
3.75%, 07/28/26 (Call 06/28/26)^(a)		16,451		15,846,271
3.75%, 03/09/27 (Call 02/09/27)		13,011		12,515,135
3.80%, 01/31/28 (Call 12/31/27)^(a)		14,184		13,412,915
4.20%, 10/29/25 (Call 09/29/25)^(a)		11,782		11,632,158
5.25%, 07/26/30 (Call 07/26/29)^(b)		15,000		14,746,206
Charles Schwab Corp. (The)
0.90%, 03/11/26 (Call 02/11/26)^(a)		17,074		15,364,220
1.15%, 05/13/26 (Call 04/13/26)^(a)		6,648		5,994,159
1.65%, 03/11/31 (Call 12/11/30)^(a)		6,721		5,423,977
1.95%, 12/01/31 (Call 09/01/31)^(a)		7,293		5,954,760
2.00%, 03/20/28 (Call 01/20/28)^(a)		19,157		17,201,827
2.30%, 05/13/31 (Call 02/13/31)^(a)		9,935		8,422,715
2.45%, 03/03/27 (Call 02/03/27)^(a)		13,255		12,376,765
2.90%, 03/03/32 (Call 12/03/31)		15,096		13,328,207
CME Group Inc.
2.65%, 03/15/32 (Call 12/15/31)^(a)		10,974		9,646,709
5.30%, 09/15/43 (Call 03/15/43)^(a)		10,219		11,194,769


Security	Par (000)		Value

Diversified Financial Services (continued)
Discover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)^(a)	$	14,227	$	13,672,463
Intercontinental Exchange Inc.
1.85%, 09/15/32 (Call 06/15/32)^(a)		16,700		13,165,998
2.10%, 06/15/30 (Call 03/15/30)^(a)		15,143		12,798,626
2.65%, 09/15/40 (Call 03/15/40)^(a)		8,971		6,600,986
3.00%, 06/15/50 (Call 12/15/49)		12,801		9,317,861
3.00%, 09/15/60 (Call 03/15/60)		13,939		9,424,144
3.75%, 12/01/25 (Call 09/01/25)^(a)		13,889		13,753,441
4.00%, 09/15/27 (Call 08/15/27)^(a)		23,399		23,038,082
4.25%, 09/21/48 (Call 03/21/48)		13,750		12,281,120
4.35%, 06/15/29 (Call 04/15/29)^(a)		18,701		18,455,179
4.60%, 03/15/33 (Call 12/15/32)		17,608		17,431,823
4.95%, 06/15/52 (Call 12/15/51)^(a)		15,791		15,507,921
5.20%, 06/15/62 (Call 12/15/61)^(a)		12,054		11,798,030
Jefferies Group LLC/Jefferies Group Capital
Finance Inc.
2.63%, 10/15/31 (Call 07/15/31)^(a)		8,367		6,504,977
4.15%, 01/23/30		15,235		13,733,592
4.85%, 01/15/27		11,669		11,601,044
Mastercard Inc.
2.00%, 11/18/31 (Call 08/18/31)		9,800		8,262,660
2.95%, 11/21/26 (Call 08/21/26)^(a)		7,759		7,511,693
2.95%, 06/01/29 (Call 03/01/29)		11,727		10,948,731
3.30%, 03/26/27 (Call 01/26/27)^(a)		12,556		12,299,104
3.35%, 03/26/30 (Call 12/26/29)^(a)		21,171		20,108,273
3.65%, 06/01/49 (Call 12/01/48)^(a)		9,492		8,350,278
3.85%, 03/26/50 (Call 09/26/49)^(a)		16,317		14,756,387
Nomura Holdings Inc.
1.65%, 07/14/26^(a)		12,687		11,175,595
2.17%, 07/14/28		11,078		9,288,274
2.33%, 01/22/27^(a)		16,209		14,442,866
2.61%, 07/14/31^(a)		12,238		9,726,440
2.68%, 07/16/30		13,638		11,122,607
3.00%, 01/22/32^(a)		7,979		6,551,457
3.10%, 01/16/30^(a)		13,719		11,633,546
Raymond James Financial Inc.
3.75%, 04/01/51 (Call 10/01/50)^(a)		8,923		7,284,885
4.95%, 07/15/46		7,333		7,103,938
Synchrony Financial
2.88%, 10/28/31 (Call 07/28/31)^(a)		7,883		6,041,068
3.95%, 12/01/27 (Call 09/01/27)^(a)		11,861		10,794,198
Visa Inc.
1.10%, 02/15/31 (Call 11/15/30)^(a)		9,262		7,401,555
1.90%, 04/15/27 (Call 02/15/27)^(a)		18,019		16,618,834
2.00%, 08/15/50 (Call 02/15/50)		17,650		11,406,484
2.05%, 04/15/30 (Call 01/15/30)^(a)		18,282		16,036,416
2.70%, 04/15/40 (Call 10/15/39)^(a)		8,729		6,991,170
2.75%, 09/15/27 (Call 06/15/27)		10,559		10,063,658
3.15%, 12/14/25 (Call 09/14/25)^(a)		37,358		36,547,294
3.65%, 09/15/47 (Call 03/15/47)		8,059		7,074,489
4.15%, 12/14/35 (Call 06/14/35)^(a)		16,442		16,258,483
4.30%, 12/14/45 (Call 06/14/45)^(a)		39,894		38,578,747


				1,164,671,543

Electric — 2.8%
AES Corp. (The)
1.38%, 01/15/26 (Call 12/15/25)		8,312		7,385,872
2.45%, 01/15/31 (Call 10/15/30)^(a)		10,748		8,861,155
Ameren Corp., 3.50%, 01/15/31 (Call 10/15/30)^(a)		6,495		5,898,579
Avangrid Inc., 3.80%, 06/01/29 (Call 03/01/29)		9,290		8,637,583


Security	Par (000)		Value

Electric (continued)
Berkshire Hathaway Energy Co.
2.85%, 05/15/51 (Call 11/15/50)	$	12,767	$	9,090,320
3.70%, 07/15/30 (Call 04/15/30)		11,373		10,848,349
3.80%, 07/15/48 (Call 01/15/48)		12,170		10,240,394
4.25%, 10/15/50 (Call 04/15/50)^(a)		7,955		7,254,403
4.45%, 01/15/49 (Call 07/15/48)^(a)		11,089		10,269,307
4.50%, 02/01/45 (Call 08/01/44)		10,002		9,325,010
4.60%, 05/01/53 (Call 11/01/52)^(a)(c)		15,071		14,301,849
5.15%, 11/15/43 (Call 05/15/43)^(a)		6,755		6,843,169
6.13%, 04/01/36^(a)		16,378		17,978,042
Commonwealth Edison Co., 4.00%, 03/01/48
(Call 09/01/47)^(a)		5,195		4,650,088
Connecticut Light & Power Co. (The), 4.00%, 04/01/48 (Call 10/01/47)		7,762		7,035,757
Consolidated Edison Co. of New York Inc.
2.40%, 06/15/31 (Call 03/15/31)^(a)		8,357		7,145,561
3.60%, 06/15/61 (Call 12/15/60)^(a)		9,089		7,101,359
4.45%, 03/15/44 (Call 09/15/43)		10,436		9,548,147
4.63%, 12/01/54 (Call 06/01/54)^(a)		8,222		7,657,518
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)^(a)		8,058		6,926,036
Constellation Energy Generation LLC
5.60%, 06/15/42 (Call 12/15/41)		3,892		3,843,689
6.25%, 10/01/39^(a)		16,796		17,834,597
Dominion Energy Inc.
3.90%, 10/01/25 (Call 07/01/25)^(a)		2,869		2,830,157
Series C, 2.25%, 08/15/31 (Call 05/15/31)^(a)		10,458		8,635,667
Series C, 3.38%, 04/01/30 (Call 01/01/30)^(a)		14,457		13,164,151
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)^(a)		4,971		3,866,262
5.30%, 02/15/40		9,078		9,411,981
Duke Energy Corp.
2.45%, 06/01/30 (Call 03/01/30)^(a)		10,842		9,154,811
2.55%, 06/15/31 (Call 03/15/31)^(a)		10,955		9,253,697
2.65%, 09/01/26 (Call 06/01/26)		14,992		14,013,730
3.15%, 08/15/27 (Call 05/15/27)^(a)		4,063		3,834,912
3.30%, 06/15/41 (Call 12/15/40)^(a)		9,789		7,547,804
3.50%, 06/15/51 (Call 12/15/50)		5,828		4,374,518
3.75%, 09/01/46 (Call 03/01/46)		14,633		11,531,855
4.30%, 03/15/28		4,654		4,555,879
4.50%, 08/15/32		16,365		15,741,063
5.00%, 08/15/52		10,561		9,999,913
Duke Energy Florida LLC, 6.40%, 06/15/38^(a)		9,899		11,458,596
Emera U.S. Finance LP
3.55%, 06/15/26 (Call 03/15/26)		8,024		7,670,483
4.75%, 06/15/46 (Call 12/15/45)		13,506		11,732,379
Entergy Corp.
0.90%, 09/15/25 (Call 08/15/25)^(a)		3,161		2,839,524
2.95%, 09/01/26 (Call 06/01/26)^(a)		13,484		12,714,712
Entergy Louisiana LLC, 4.20%, 09/01/48
(Call 03/01/48)		8,563		7,671,369
Evergy Inc., 2.90%, 09/15/29 (Call 06/15/29)		8,020		6,995,267
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)		10,460		10,156,733
4.05%, 04/15/30 (Call 01/15/30)^(a)		13,425		12,841,003
4.45%, 04/15/46 (Call 10/15/45)		10,451		9,368,412
4.70%, 04/15/50 (Call 10/15/49)^(a)		7,954		7,423,732
Florida Power & Light Co.
2.45%, 02/03/32 (Call 11/03/31)		14,896		12,912,096
2.88%, 12/04/51 (Call 06/04/51)		10,528		7,818,681
3.15%, 10/01/49 (Call 04/01/49)^(a)		7,962		6,271,440


Security	Par (000)		Value

Electric (continued)
3.95%, 03/01/48 (Call 09/01/47)	$	9,947	$	9,033,479
Georgia Power Co.
4.30%, 03/15/42		12,811		11,346,645
5.13%, 05/15/52 (Call 11/15/51)^(a)		9,445		9,447,902
Series A, 3.25%, 03/15/51 (Call 09/15/50)		8,188		6,011,365
MidAmerican Energy Co.
3.65%, 04/15/29 (Call 01/15/29)^(a)		7,381		7,159,443
4.25%, 07/15/49 (Call 01/15/49)		9,223		8,566,478
NextEra Energy Capital Holdings Inc.
1.88%, 01/15/27 (Call 12/15/26)		14,751		13,250,770
1.90%, 06/15/28 (Call 04/15/28)		14,094		12,207,976
2.25%, 06/01/30 (Call 03/01/30)		18,870		15,900,115
2.44%, 01/15/32 (Call 10/15/31)^(a)		13,135		10,936,231
2.75%, 11/01/29 (Call 08/01/29)		8,439		7,501,339
3.55%, 05/01/27 (Call 02/01/27)^(a)		18,910		18,205,281
4.63%, 07/15/27 (Call 06/15/27)		18,408		18,483,688
5.00%, 07/15/32 (Call 04/15/32)		11,698		11,864,832
Pacific Gas and Electric Co.
2.10%, 08/01/27 (Call 06/01/27)^(a)		7,303		6,175,753
2.50%, 02/01/31 (Call 11/01/30)		18,270		13,976,510
3.00%, 06/15/28 (Call 04/15/28)^(a)		7,816		6,697,394
3.15%, 01/01/26		14,847		13,753,895
3.25%, 06/01/31 (Call 03/01/31)		10,493		8,479,091
3.30%, 12/01/27 (Call 09/01/27)		11,828		10,411,593
3.30%, 08/01/40 (Call 02/01/40)^(a)		10,611		7,487,312
3.50%, 08/01/50 (Call 02/01/50)^(a)		20,012		13,296,469
3.75%, 07/01/28^(a)		8,645		7,655,888
3.95%, 12/01/47 (Call 06/01/47)^(a)		8,283		5,663,408
4.50%, 07/01/40 (Call 01/01/40)		19,321		15,022,869
4.55%, 07/01/30 (Call 01/01/30)^(a)		30,874		27,460,667
4.95%, 07/01/50 (Call 01/01/50)^(a)		33,193		26,494,865
PacifiCorp, 2.90%, 06/15/52 (Call 12/15/51)^(a)		11,032		7,929,962
Public Service Co. of Colorado, 1.88%, 06/15/31 (Call 12/15/30)^(a)		4,380		3,652,600
Public Service Enterprise Group Inc., 2.45%, 11/15/31 (Call 08/15/31)^(a)		7,929		6,604,514
San Diego Gas & Electric Co.
Series VVV, 1.70%, 10/01/30 (Call 07/01/30)		5,561		4,573,309
Series WWW, 2.95%, 08/15/51 (Call 02/15/51)		11,256		8,298,530
Sempra Energy
3.25%, 06/15/27 (Call 03/15/27)^(a)		11,267		10,674,920
3.40%, 02/01/28 (Call 11/01/27)^(a)		11,206		10,598,931
3.80%, 02/01/38 (Call 08/01/37)		9,355		7,987,325
4.00%, 02/01/48 (Call 08/01/47)^(a)		7,435		6,218,525
6.00%, 10/15/39^(a)		6,577		7,038,346
Southern California Edison Co.
3.65%, 02/01/50 (Call 08/01/49)^(a)		13,767		10,545,486
4.00%, 04/01/47 (Call 10/01/46)		19,194		15,542,238
4.65%, 10/01/43 (Call 04/01/43)^(a)		8,294		7,496,152
Series 20A, 2.95%, 02/01/51 (Call 08/01/50)^(a)		7,626		5,142,672
Series C, 4.13%, 03/01/48 (Call 09/01/47)^(a)		12,842		10,683,898
Southern Co. (The)
3.25%, 07/01/26 (Call 04/01/26)^(a)		20,730		19,811,284
4.40%, 07/01/46 (Call 01/01/46)^(a)		19,804		17,439,694
Series A, 3.70%, 04/30/30 (Call 01/30/30)^(a)		9,799		9,172,178
Series B, 4.00%, 01/15/51 (Call 10/15/25)^(a)(b)		11,259		10,425,158
Virginia Electric & Power Co.
2.45%, 12/15/50 (Call 06/15/50)^(a)		9,552		6,403,474
2.95%, 11/15/51 (Call 05/15/51)		9,143		6,758,368
Series A, 3.15%, 01/15/26 (Call 10/15/25)^(a)		10,772		10,460,604


Security	Par (000)		Value

Electric (continued)
Series A, 3.50%, 03/15/27 (Call 12/15/26)	$	9,890	$	9,622,757


				990,039,794

Electrical Components & Equipment — 0.1%
Emerson Electric Co.
0.88%, 10/15/26 (Call 09/15/26)^(a)		6,737		6,018,194
2.00%, 12/21/28 (Call 10/21/28)^(a)		10,597		9,456,192
2.20%, 12/21/31 (Call 09/21/31)^(a)		7,003		5,949,201
2.80%, 12/21/51 (Call 06/21/51)		12,402		9,008,504


				30,432,091

Electronics — 0.2%
Amphenol Corp.
2.20%, 09/15/31 (Call 06/15/31)^(a)		9,168		7,564,153
2.80%, 02/15/30 (Call 11/15/29)^(a)		9,300		8,124,958
Honeywell International Inc.
1.10%, 03/01/27 (Call 02/01/27)^(a)		11,031		9,853,758
1.75%, 09/01/31 (Call 06/01/31)^(a)		12,811		10,597,048
1.95%, 06/01/30 (Call 03/01/30)		12,563		10,806,327
2.50%, 11/01/26 (Call 08/01/26)^(a)		14,095		13,380,343
2.70%, 08/15/29 (Call 05/15/29)^(a)		9,881		9,073,425
2.80%, 06/01/50 (Call 12/01/49)^(a)		7,162		5,513,827


				74,913,839

Entertainment — 0.6%
Magallanes Inc.
3.76%, 03/15/27 (Call 02/15/27)^(a)(c)		41,230		38,512,250
4.05%, 03/15/29 (Call 01/15/29)^(c)		14,509		13,160,351
4.28%, 03/15/32 (Call 12/15/31)^(a)(c)		48,149		41,833,657
5.05%, 03/15/42 (Call 09/15/41)^(c)		50,797		41,457,926
5.14%, 03/15/52 (Call 09/15/51)^(c)		75,992		60,797,856
5.39%, 03/15/62 (Call 09/15/61)^(c)		29,421		23,584,435


				219,346,475

Environmental Control — 0.1%
Republic Services Inc.
1.75%, 02/15/32 (Call 11/15/31)^(a)		10,877		8,566,454
3.95%, 05/15/28 (Call 02/15/28)^(a)		6,679		6,537,161
Waste Connections Inc.
2.95%, 01/15/52 (Call 07/15/51)		9,056		6,516,421
4.20%, 01/15/33		390		375,214
Waste Management Inc.
1.50%, 03/15/31 (Call 12/15/30)^(a)		7,389		5,912,454
3.15%, 11/15/27 (Call 08/15/27)^(a)		8,806		8,402,119
4.15%, 04/15/32 (Call 01/15/32)^(a)		8,638		8,436,842


				44,746,665

Food — 1.3%
Campbell Soup Co., 4.15%, 03/15/28 (Call 12/15/27)^(a)		11,320		11,123,194
Conagra Brands Inc.
1.38%, 11/01/27 (Call 09/01/27)^(a)		12,715		10,638,886
4.60%, 11/01/25 (Call 09/01/25)		7,729		7,722,415
4.85%, 11/01/28 (Call 08/01/28)^(a)		18,725		18,533,578
5.30%, 11/01/38 (Call 05/01/38)		9,268		8,826,796
5.40%, 11/01/48 (Call 05/01/48)^(a)		11,702		11,083,362
General Mills Inc.
2.88%, 04/15/30 (Call 01/15/30)^(a)		10,386		9,284,968
3.20%, 02/10/27 (Call 11/10/26)^(a)		8,455		8,114,996
4.20%, 04/17/28 (Call 01/17/28)^(a)		14,164		14,067,634
Hormel Foods Corp.
1.70%, 06/03/28 (Call 04/03/28)^(a)		5,208		4,636,572
1.80%, 06/11/30 (Call 03/11/30)^(a)		9,309		7,886,950
Kellogg Co., 3.25%, 04/01/26^(a)		13,373		12,981,519


Security	Par (000)		Value

Food (continued)
Kraft Heinz Foods Co.
3.00%, 06/01/26 (Call 03/01/26)^(a)	$	21,272	$	20,123,620
3.88%, 05/15/27 (Call 02/15/27)^(a)		12,952		12,542,587
4.38%, 06/01/46 (Call 12/01/45)^(a)		29,415		25,006,047
4.88%, 10/01/49 (Call 04/01/49)^(a)		13,929		12,620,008
5.00%, 06/04/42^(a)		16,072		14,827,479
5.20%, 07/15/45 (Call 01/15/45)^(a)		19,886		18,599,068
5.50%, 06/01/50 (Call 12/01/49)^(a)		8,755		8,641,185
6.88%, 01/26/39		9,478		10,383,552
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		9,223		8,698,550
3.95%, 01/15/50 (Call 07/15/49)^(a)		10,215		8,684,114
4.45%, 02/01/47 (Call 08/01/46)^(a)		8,896		8,095,869
McCormick & Co. Inc./MD, 3.40%, 08/15/27 (Call 05/15/27)^(a)		11,285		10,852,465
Mondelez International Inc.
2.63%, 03/17/27 (Call 02/17/27)		11,874		11,078,916
2.63%, 09/04/50 (Call 03/04/50)		10,708		7,156,933
2.75%, 04/13/30 (Call 01/13/30)^(a)		14,047		12,427,032
3.00%, 03/17/32 (Call 12/17/31)^(a)		6,650		5,831,432
Sysco Corp.
3.15%, 12/14/51 (Call 06/14/51)^(a)		9,284		6,691,119
3.25%, 07/15/27 (Call 04/15/27)^(a)		8,392		7,954,569
3.30%, 07/15/26 (Call 04/15/26)^(a)		10,684		10,339,535
3.75%, 10/01/25 (Call 07/01/25)^(a)		6,717		6,649,226
5.95%, 04/01/30 (Call 01/01/30)^(a)		14,515		15,528,037
6.60%, 04/01/50 (Call 10/01/49)^(a)		12,372		14,354,211
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)		15,213		14,609,651
4.00%, 03/01/26 (Call 01/01/26)^(a)		14,839		14,666,629
4.35%, 03/01/29 (Call 12/01/28)^(a)		12,281		12,131,957
4.55%, 06/02/47 (Call 12/02/46)^(a)		6,827		6,252,354
5.10%, 09/28/48 (Call 03/28/48)^(a)		18,012		17,832,602


				447,479,617

Gas — 0.2%
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)^(a)		5,323		4,688,395
NiSource Inc.
1.70%, 02/15/31 (Call 11/15/30)^(a)		11,990		9,395,892
2.95%, 09/01/29 (Call 06/01/29)^(a)		8,333		7,430,639
3.49%, 05/15/27 (Call 02/15/27)^(a)		11,761		11,262,659
3.60%, 05/01/30 (Call 02/01/30)^(a)		9,339		8,590,755
3.95%, 03/30/48 (Call 09/30/47)^(a)		8,481		6,982,940
4.38%, 05/15/47 (Call 11/15/46)^(a)		9,603		8,469,553
4.80%, 02/15/44 (Call 08/15/43)		7,588		6,953,224


				63,774,057

Hand & Machine Tools — 0.0%
Stanley Black & Decker Inc.
2.30%, 03/15/30 (Call 12/15/29)^(a)		9,514		8,121,995
2.75%, 11/15/50 (Call 05/15/50)^(a)		7,567		5,150,727


				13,272,722

Health Care - Products — 0.9%
Abbott Laboratories
3.75%, 11/30/26 (Call 08/30/26)^(a)		15,183		15,226,238
4.75%, 11/30/36 (Call 05/30/36)^(a)		15,129		15,935,724
4.90%, 11/30/46 (Call 05/30/46)		34,581		36,112,420
Baxter International Inc.
1.92%, 02/01/27 (Call 01/01/27)^(a)		18,183		16,372,888
2.27%, 12/01/28 (Call 10/01/28)		15,972		13,890,815


Security	Par (000)		Value

Health Care - Products (continued)
2.54%, 02/01/32 (Call 11/01/31)^(a)	$	17,595	$	14,529,543
2.60%, 08/15/26 (Call 05/15/26)^(a)		5,707		5,339,518
3.13%, 12/01/51 (Call 06/01/51)		8,624		6,055,425
Boston Scientific Corp., 2.65%, 06/01/30 (Call 03/01/30)^(a)		14,880		12,999,881
Danaher Corp.
2.60%, 10/01/50 (Call 04/01/50)		10,238		7,068,867
2.80%, 12/10/51 (Call 06/10/51)^(a)		14,944		10,619,012
DH Europe Finance II Sarl
2.60%, 11/15/29 (Call 08/15/29)^(a)		4,787		4,305,831
3.25%, 11/15/39 (Call 05/15/39)		7,551		6,237,896
3.40%, 11/15/49 (Call 05/15/49)^(a)		11,209		8,996,338
Medtronic Inc.
4.38%, 03/15/35^(a)		20,176		20,030,113
4.63%, 03/15/45^(a)		17,147		17,133,750
PerkinElmer Inc., 3.30%, 09/15/29 (Call 06/15/29)		10,726		9,554,688
Stryker Corp.
1.95%, 06/15/30 (Call 03/15/30)^(a)		12,504		10,403,487
3.38%, 11/01/25 (Call 08/01/25)		6,556		6,388,622
3.50%, 03/15/26 (Call 12/15/25)^(a)		7,413		7,234,973
4.63%, 03/15/46 (Call 09/15/45)		8,199		7,764,209
Thermo Fisher Scientific Inc.
2.00%, 10/15/31 (Call 07/15/31)^(a)		15,129		12,731,032
2.60%, 10/01/29 (Call 07/01/29)^(a)		10,077		9,147,467
2.80%, 10/15/41 (Call 04/15/41)^(a)		10,988		8,490,863
4.10%, 08/15/47 (Call 02/15/47)^(a)		9,463		8,835,775
Zimmer Biomet Holdings Inc., 2.60%, 11/24/31 (Call 08/24/31)^(a)		9,468		7,850,150


				299,255,525

Health Care - Services — 2.5%
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)		10,791		8,821,545
6.63%, 06/15/36		11,412		12,573,562
Ascension Health
3.95%, 11/15/46^(a)		7,868		7,169,979
Series B, 2.53%, 11/15/29 (Call 08/15/29)^(a)		9,533		8,523,086
CommonSpirit Health
3.35%, 10/01/29 (Call 04/01/29)^(a)		6,887		6,166,182
4.19%, 10/01/49 (Call 04/01/49)^(a)		4,420		3,665,509
Elevance Health Inc.
1.50%, 03/15/26 (Call 02/15/26)^(a)		10,156		9,277,524
2.25%, 05/15/30 (Call 02/15/30)		13,899		11,853,465
2.55%, 03/15/31 (Call 12/15/30)		8,327		7,145,938
2.88%, 09/15/29 (Call 06/15/29)		9,735		8,760,005
3.13%, 05/15/50 (Call 11/15/49)		8,986		6,699,606
3.60%, 03/15/51 (Call 09/15/50)		15,428		12,467,211
3.65%, 12/01/27 (Call 09/01/27)^(a)		18,836		18,214,695
3.70%, 09/15/49 (Call 03/15/49)^(a)		7,754		6,366,757
4.10%, 03/01/28 (Call 12/01/27)		14,783		14,497,684
4.38%, 12/01/47 (Call 06/01/47)^(a)		13,579		12,409,829
4.55%, 03/01/48 (Call 09/01/47)^(a)		10,196		9,542,108
4.63%, 05/15/42^(a)		11,288		10,686,563
4.65%, 01/15/43		13,477		12,742,036
4.65%, 08/15/44 (Call 02/15/44)^(a)		7,518		7,075,821
HCA Inc.
2.38%, 07/15/31 (Call 04/15/31)^(a)		8,475		6,705,618
3.13%, 03/15/27 (Call 02/15/27)^(a)(c)		9,255		8,539,991
3.50%, 09/01/30 (Call 03/01/30)^(a)		27,457		23,933,078
3.50%, 07/15/51 (Call 01/15/51)		16,885		11,522,717
3.63%, 03/15/32 (Call 12/15/31)^(c)		19,753		17,060,073


Security	Par (000)		Value

Health Care - Services (continued)
4.13%, 06/15/29 (Call 03/15/29)	$	21,189	$	19,535,260
4.50%, 02/15/27 (Call 08/15/26)		12,052		11,779,760
4.63%, 03/15/52 (Call 09/15/51)^(a)(c)		19,697		16,254,874
5.13%, 06/15/39 (Call 12/15/38)		10,892		9,799,450
5.25%, 06/15/26 (Call 12/15/25)		17,970		18,046,509
5.25%, 06/15/49 (Call 12/15/48)^(a)		21,756		19,296,752
5.38%, 09/01/26 (Call 03/01/26)		10,012		10,097,404
5.50%, 06/15/47 (Call 12/15/46)^(a)		15,423		14,193,270
5.63%, 09/01/28 (Call 03/01/28)		13,166		13,240,783
5.88%, 02/15/26 (Call 08/15/25)		13,772		14,062,589
5.88%, 02/01/29 (Call 08/01/28)^(a)		9,036		9,202,413
Humana Inc.
1.35%, 02/03/27 (Call 01/03/27)		8,902		7,791,523
2.15%, 02/03/32 (Call 11/03/31)^(a)		11,320		9,172,109
3.70%, 03/23/29 (Call 02/23/29)^(a)		9,125		8,615,553
4.95%, 10/01/44 (Call 04/01/44)^(a)		7,206		6,915,967
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		12,404		11,462,665
Series 2019, 3.27%, 11/01/49 (Call 05/01/49)		7,155		5,623,025
Series 2021, 2.81%, 06/01/41 (Call 12/01/40)^(a)		11,592		8,834,740
Series 2021, 3.00%, 06/01/51 (Call 12/01/50)		11,439		8,494,844
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)^(a)		9,381		8,483,759
Quest Diagnostics Inc., 2.95%, 06/30/30 (Call 03/30/30)^(a)		13,250		11,722,437
UnitedHealth Group Inc.
1.15%, 05/15/26 (Call 04/15/26)^(a)		9,938		9,042,676
2.00%, 05/15/30^(a)		11,755		10,028,737
2.30%, 05/15/31 (Call 02/15/31)		13,896		11,874,673
2.75%, 05/15/40 (Call 11/15/39)^(a)		11,406		8,804,612
2.88%, 08/15/29		12,254		11,261,227
2.90%, 05/15/50 (Call 11/15/49)^(a)		14,504		10,620,978
2.95%, 10/15/27		11,173		10,613,137
3.05%, 05/15/41 (Call 11/15/40)		14,330		11,452,881
3.10%, 03/15/26^(a)		11,584		11,323,964
3.13%, 05/15/60 (Call 11/15/59)^(a)		9,158		6,698,177
3.25%, 05/15/51 (Call 11/15/50)^(a)		23,339		18,173,603
3.45%, 01/15/27^(a)		10,089		9,896,751
3.50%, 08/15/39 (Call 02/15/39)		14,517		12,507,480
3.70%, 08/15/49 (Call 02/15/49)		12,292		10,408,909
3.75%, 10/15/47 (Call 04/15/47)		8,335		7,140,163
3.85%, 06/15/28^(a)		11,741		11,589,358
3.88%, 12/15/28^(a)		7,666		7,537,813
3.88%, 08/15/59 (Call 02/15/59)		12,169		10,349,158
4.00%, 05/15/29 (Call 03/15/29)		16,985		16,749,649
4.20%, 05/15/32 (Call 02/15/32)		17,056		16,896,383
4.20%, 01/15/47 (Call 07/15/46)		9,107		8,353,097
4.25%, 03/15/43 (Call 09/15/42)		8,537		7,947,794
4.25%, 06/15/48 (Call 12/15/47)		13,785		12,721,318
4.45%, 12/15/48 (Call 06/15/48)		9,971		9,486,045
4.63%, 07/15/35^(a)		7,687		7,673,582
4.75%, 07/15/45^(a)		19,022		18,758,083
4.75%, 05/15/52 (Call 11/15/51)^(a)		22,487		22,216,191
4.95%, 05/15/62 (Call 11/15/61)		12,795		12,847,927
5.80%, 03/15/36^(a)		11,487		12,622,628
6.88%, 02/15/38		15,361		18,689,837
Universal Health Services Inc., 2.65%, 10/15/30 (Call 07/15/30)^(a)(c)		9,802		7,730,275


				867,063,374


Security	Par (000)		Value

Holding Companies - Diversified — 0.2%
Ares Capital Corp.
2.15%, 07/15/26 (Call 06/15/26)^(a)	$	11,539	$	10,019,686
2.88%, 06/15/28 (Call 04/15/28)		14,846		12,326,463
3.88%, 01/15/26 (Call 12/15/25)		9,910		9,327,906
Blackstone Secured Lending Fund, 3.63%, 01/15/26 (Call 12/15/25)^(a)		7,780		7,273,335
FS KKR Capital Corp.
3.13%, 10/12/28 (Call 08/12/28)^(a)		8,288		6,755,961
3.40%, 01/15/26 (Call 12/15/25)		10,044		9,154,684
Owl Rock Capital Corp.
2.88%, 06/11/28 (Call 04/11/28)^(a)		11,798		9,560,444
3.40%, 07/15/26 (Call 06/15/26)^(a)		12,849		11,501,903

				75,920,382

Home Builders — 0.0%
Lennar Corp., 4.75%, 11/29/27 (Call 05/29/27)^(a)		10,061		9,815,713


Household Products & Wares — 0.0%
Kimberly-Clark Corp., 3.10%, 03/26/30 (Call 12/26/29)^(a)		13,022		12,119,471


Insurance — 1.9%
Aflac Inc., 3.60%, 04/01/30 (Call 01/01/30)^(a)		8,971		8,544,795
American International Group Inc.
3.90%, 04/01/26 (Call 01/01/26)		18,161		17,870,555
4.38%, 06/30/50 (Call 12/30/49)^(a)		10,440		9,358,938
4.75%, 04/01/48 (Call 10/01/47)^(a)		9,546		9,030,995
4.80%, 07/10/45 (Call 01/10/45)^(a)		8,578		8,006,506
Aon Corp.
2.80%, 05/15/30 (Call 02/15/30)^(a)		9,362		8,184,237
3.75%, 05/02/29 (Call 02/02/29)^(a)		6,835		6,487,734
Aon Corp./Aon Global Holdings PLC, 3.90%, 02/28/52 (Call 08/28/51)^(a)		10,552		8,755,099
Aon Global Ltd., 3.88%, 12/15/25 (Call 09/15/25)		7,569		7,488,218
Arch Capital Group Ltd., 3.64%, 06/30/50 (Call 12/30/49)		9,557		7,460,385
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)^(a)		9,926		9,333,455
Berkshire Hathaway Finance Corp.
1.45%, 10/15/30 (Call 07/15/30)^(a)		9,203		7,506,308
2.30%, 03/15/27 (Call 02/15/27)^(a)		10,114		9,525,689
2.50%, 01/15/51 (Call 07/15/50)		8,942		6,092,176
2.85%, 10/15/50 (Call 04/15/50)		17,988		13,085,205
2.88%, 03/15/32 (Call 12/15/31)^(a)		11,510		10,237,566
3.85%, 03/15/52 (Call 09/15/51)		28,514		24,576,448
4.20%, 08/15/48 (Call 02/15/48)^(a)		24,796		22,995,766
4.25%, 01/15/49 (Call 07/15/48)^(a)		18,715		17,663,951
5.75%, 01/15/40^(a)		11,559		12,920,708
Berkshire Hathaway Inc.
3.13%, 03/15/26 (Call 12/15/25)		28,238		27,610,052
4.50%, 02/11/43^(a)		10,107		9,756,539
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		2,807		2,658,360
4.70%, 06/22/47 (Call 12/22/46)^(a)		9,693		7,649,556
Chubb Corp. (The), 6.00%, 05/11/37		7,622		8,662,382
Chubb INA Holdings Inc.
1.38%, 09/15/30 (Call 06/15/30)^(a)		4,025		3,208,883
3.05%, 12/15/61 (Call 06/15/61)		11,063		7,819,393
3.35%, 05/03/26 (Call 02/03/26)^(a)		12,769		12,493,301
4.35%, 11/03/45 (Call 05/03/45)^(a)		12,476		11,750,436
Corebridge Financial Inc.
3.65%, 04/05/27 (Call 03/05/27)^(a)(c)		11,865		11,163,464


Security	Par (000)		Value

Insurance (continued)
3.85%, 04/05/29 (Call 02/05/29)^(a)(c)	$	12,516	$	11,506,329
3.90%, 04/05/32 (Call 01/05/32)^(a)(c)		14,958		13,413,156
4.40%, 04/05/52 (Call 10/05/51)^(a)(c)		14,252		11,923,518
Equitable Holdings Inc.
4.35%, 04/20/28 (Call 01/20/28)^(a)		11,384		11,199,433
5.00%, 04/20/48 (Call 10/20/47)		16,603		15,527,642
Everest Reinsurance Holdings Inc.
3.13%, 10/15/52 (Call 04/15/52)		13,753		9,557,529
3.50%, 10/15/50 (Call 04/15/50)^(a)		8,764		6,614,769
Fairfax Financial Holdings Ltd., 5.63%, 08/16/32		1,001		980,351
Hartford Financial Services Group Inc. (The), 3.60%, 08/19/49 (Call 02/19/49)		8,084		6,391,232
Manulife Financial Corp.
3.70%, 03/16/32 (Call 12/16/31)^(a)		2,953		2,719,219
4.15%, 03/04/26^(a)		11,878		11,762,194
5.38%, 03/04/46^(a)		7,625		7,993,277
Marsh & McLennan Companies Inc.
2.25%, 11/15/30 (Call 08/15/30)		10,569		8,992,200
4.38%, 03/15/29 (Call 12/15/28)^(a)		10,662		10,613,154
4.90%, 03/15/49 (Call 09/15/48)^(a)		11,718		11,691,565
MetLife Inc.
4.05%, 03/01/45^(a)		11,871		10,481,153
4.13%, 08/13/42^(a)		10,061		9,015,420
4.55%, 03/23/30 (Call 12/23/29)^(a)		4,902		4,939,896
4.60%, 05/13/46 (Call 11/13/45)^(a)		5,873		5,669,644
4.88%, 11/13/43		6,216		6,110,466
5.00%, 07/15/52 (Call 01/15/52)^(a)		11,270		11,403,096
5.70%, 06/15/35^(a)		11,252		12,183,092
5.88%, 02/06/41^(a)		12,069		13,103,100
6.38%, 06/15/34		10,481		12,009,856
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)^(a)		8,933		8,135,960
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)^(a)		15,596		12,896,660
3.91%, 12/07/47 (Call 06/07/47)^(a)		5,983		5,209,734
3.94%, 12/07/49 (Call 06/07/49)^(a)		12,999		11,197,596
4.35%, 02/25/50 (Call 08/25/49)^(a)		11,211		10,337,248
4.60%, 05/15/44^(a)		6,966		6,634,827
5.70%, 12/14/36^(a)		10,663		11,467,846
Travelers Companies Inc. (The)
3.05%, 06/08/51 (Call 12/08/50)		9,571		7,303,118
5.35%, 11/01/40^(a)		4,469		4,722,705
6.25%, 06/15/37^(a)		11,260		13,201,447
Willis North America Inc., 4.65%, 06/15/27 (Call 05/15/27)		7,449		7,311,499


				652,117,031

Internet — 2.1%
Alphabet Inc.
0.80%, 08/15/27 (Call 06/15/27)^(a)		14,414		12,604,824
1.10%, 08/15/30 (Call 05/15/30)		21,362		17,428,615
1.90%, 08/15/40 (Call 02/15/40)		14,185		9,998,006
2.00%, 08/15/26 (Call 05/15/26)		15,472		14,579,662
2.05%, 08/15/50 (Call 02/15/50)		26,968		17,735,562
2.25%, 08/15/60 (Call 02/15/60)^(a)		20,932		13,321,786
Amazon.com Inc.
1.00%, 05/12/26 (Call 04/12/26)		28,304		25,639,365
1.20%, 06/03/27 (Call 04/03/27)		15,471		13,735,075
1.50%, 06/03/30 (Call 03/03/30)		19,746		16,428,927
1.65%, 05/12/28 (Call 03/12/28)		22,640		20,065,531
2.10%, 05/12/31 (Call 02/12/31)		31,101		26,672,196


Security	Par (000)		Value

Internet (continued)
2.50%, 06/03/50 (Call 12/03/49)^(a)	$	25,454	$	17,670,271
2.70%, 06/03/60 (Call 12/03/59)		24,475		16,358,485
2.88%, 05/12/41 (Call 11/12/40)^(a)		20,130		16,049,617
3.10%, 05/12/51 (Call 11/12/50)^(a)		35,146		27,328,120
3.15%, 08/22/27 (Call 05/22/27)^(a)		40,073		38,685,472
3.25%, 05/12/61 (Call 11/12/60)		18,970		14,406,241
3.30%, 04/13/27 (Call 03/13/27)^(a)		22,939		22,396,405
3.45%, 04/13/29 (Call 02/13/29)^(a)		14,716		14,195,074
3.60%, 04/13/32 (Call 01/13/32)^(a)		29,947		28,711,851
3.88%, 08/22/37 (Call 02/22/37)^(a)		28,196		26,449,638
3.95%, 04/13/52 (Call 10/13/51)		27,756		25,135,295
4.05%, 08/22/47 (Call 02/22/47)^(a)		35,123		32,602,728
4.10%, 04/13/62 (Call 10/13/61)^(a)		15,491		13,945,186
4.25%, 08/22/57 (Call 02/22/57)^(a)		22,447		20,912,590
4.80%, 12/05/34 (Call 06/05/34)^(a)		10,772		11,294,730
4.95%, 12/05/44 (Call 06/05/44)^(a)		14,904		15,529,600
5.20%, 12/03/25 (Call 09/03/25)^(a)		6,500		6,754,626
Booking Holdings Inc.
3.60%, 06/01/26 (Call 03/01/26)		14,092		13,881,932
4.63%, 04/13/30 (Call 01/13/30)		13,362		13,415,233
eBay Inc.
1.40%, 05/10/26 (Call 04/10/26)^(a)		11,018		9,955,736
2.60%, 05/10/31 (Call 02/10/31)^(a)		10,830		8,978,871
2.70%, 03/11/30 (Call 12/11/29)^(a)		11,016		9,528,653
3.60%, 06/05/27 (Call 03/05/27)^(a)		11,301		10,925,415
3.65%, 05/10/51 (Call 11/10/50)		9,260		6,993,913
4.00%, 07/15/42 (Call 01/15/42)^(a)		6,779		5,639,620
Expedia Group Inc.
2.95%, 03/15/31 (Call 12/15/30)^(a)		12,263		10,257,277
3.25%, 02/15/30 (Call 11/15/29)^(a)		11,103		9,589,135
3.80%, 02/15/28 (Call 11/15/27)^(a)		8,932		8,311,879
4.63%, 08/01/27 (Call 05/01/27)		10,029		9,768,816
5.00%, 02/15/26 (Call 11/15/25)^(a)		11,383		11,416,015
Netflix Inc.
4.38%, 11/15/26^(a)		9,445		9,176,408
4.88%, 04/15/28		16,086		15,643,635
5.88%, 11/15/28		18,629		18,884,404
6.38%, 05/15/29^(a)		10,143		10,578,001


				719,580,421

Lodging — 0.1%
Marriott International Inc./MD
Series FF, 4.63%, 06/15/30 (Call 03/15/30)^(a)		12,744		12,110,512
Series GG, 3.50%, 10/15/32 (Call 07/15/32)		4,905		4,203,904
Series HH, 2.85%, 04/15/31 (Call 01/15/31)		12,629		10,512,953
Series R, 3.13%, 06/15/26 (Call 03/15/26)		8,134		7,738,514
Sands China Ltd.
4.30%, 01/08/26 (Call 12/08/25)		2,400		2,071,146
5.90%, 08/08/28 (Call 05/08/28)^(a)		15,824		13,529,520


				50,166,549

Machinery — 0.4%
Caterpillar Financial Services Corp.
0.80%, 11/13/25^(a)		2,318		2,099,311
0.90%, 03/02/26^(a)		10,447		9,480,894
1.10%, 09/14/27^(a)		11,964		10,469,310
Caterpillar Inc.
2.60%, 04/09/30 (Call 01/09/30)^(a)		14,356		13,028,848
3.25%, 09/19/49 (Call 03/19/49)		8,619		7,092,309
3.25%, 04/09/50 (Call 10/09/49)^(a)		11,822		9,734,135
3.80%, 08/15/42^(a)		16,670		15,147,982


Security	Par (000)		Value

Machinery (continued)
5.20%, 05/27/41	$	7,869	$	8,503,178
Deere & Co.
3.75%, 04/15/50 (Call 10/15/49)^(a)		9,556		8,767,171
3.90%, 06/09/42 (Call 12/09/41)^(a)		11,103		10,405,346
John Deere Capital Corp., 0.70%, 01/15/26^(a)		7,377		6,666,332
Otis Worldwide Corp.
2.57%, 02/15/30 (Call 11/15/29)^(a)		17,847		15,383,716
3.11%, 02/15/40 (Call 08/15/39)^(a)		7,928		6,077,327
Westinghouse Air Brake Technologies Corp.
3.45%, 11/15/26 (Call 08/15/26)^(a)		6,007		5,621,784
4.95%, 09/15/28 (Call 06/15/28)		12,661		12,286,988


				140,764,631

Manufacturing — 0.7%
3M Co.
2.38%, 08/26/29 (Call 05/26/29)^(a)		13,723		11,777,761
2.88%, 10/15/27 (Call 07/15/27)^(a)		10,872		10,235,970
3.25%, 08/26/49 (Call 02/26/49)^(a)		9,746		7,253,432
3.38%, 03/01/29 (Call 12/01/28)^(a)		6,584		6,082,193
4.00%, 09/14/48 (Call 03/14/48)^(a)		11,620		9,759,279
Eaton Corp.
4.15%, 03/15/33		2,805		2,684,925
4.15%, 11/02/42		10,499		9,464,393
GE Capital Funding LLC, 4.55%, 05/15/32 (Call 02/15/32)		6,015		5,804,439
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35^(a)		70,841		66,783,808
General Electric Co.
5.88%, 01/14/38^(a)		9,964		10,453,375
6.75%, 03/15/32		25,864		29,255,875
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)^(a)		10,655		10,240,317
3.90%, 09/01/42 (Call 03/01/42)^(a)		10,475		9,258,946
Parker-Hannifin Corp.
3.25%, 06/14/29 (Call 03/14/29)		13,377		12,254,109
4.00%, 06/14/49 (Call 12/14/48)^(a)		7,385		6,272,257
4.25%, 09/15/27 (Call 08/15/27)		8,301		8,231,914
4.50%, 09/15/29 (Call 07/15/29)		11,625		11,456,742
Trane Technologies Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)^(a)		6,613		6,233,336


				233,503,071

Media — 4.6%
Charter Communications Operating LLC/Charter Communications Operating Capital
2.25%, 01/15/29 (Call 11/15/28)		14,701		12,080,892
2.30%, 02/01/32 (Call 11/01/31)		10,828		8,234,276
2.80%, 04/01/31 (Call 01/01/31)		18,726		15,130,254
3.50%, 06/01/41 (Call 12/01/40)		19,073		13,210,639
3.50%, 03/01/42 (Call 09/01/41)		16,801		11,579,711
3.70%, 04/01/51 (Call 10/01/50)		22,747		15,168,696
3.75%, 02/15/28 (Call 11/15/27)^(a)		9,828		9,089,931
3.85%, 04/01/61 (Call 10/01/60)		21,120		13,629,619
3.90%, 06/01/52 (Call 12/01/51)		25,803		17,445,465
3.95%, 06/30/62 (Call 12/30/61)		15,188		10,000,526
4.20%, 03/15/28 (Call 12/15/27)^(a)		12,380		11,644,999
4.40%, 04/01/33 (Call 01/01/33)^(a)		12,086		10,666,841
4.40%, 12/01/61 (Call 06/01/61)		16,938		11,941,585
4.80%, 03/01/50 (Call 09/01/49)^(a)		29,787		23,410,816
5.05%, 03/30/29 (Call 12/30/28)		11,528		11,082,511
5.13%, 07/01/49 (Call 01/01/49)		13,208		10,705,846


Security	Par (000)		Value

Media (continued)
5.25%, 04/01/53 (Call 10/01/52)^(a)	$	15,693	$	13,143,223
5.38%, 04/01/38 (Call 10/01/37)		7,598		6,639,123
5.38%, 05/01/47 (Call 11/01/46)^(a)		24,789		21,137,246
5.50%, 04/01/63 (Call 10/01/62)		11,759		9,803,488
5.75%, 04/01/48 (Call 10/01/47)^(a)		25,694		22,741,628
6.38%, 10/23/35 (Call 04/23/35)^(a)		21,005		20,790,451
6.48%, 10/23/45 (Call 04/23/45)^(a)		35,953		34,287,175
Comcast Corp.
1.50%, 02/15/31 (Call 11/15/30)^(a)		17,872		14,313,327
1.95%, 01/15/31 (Call 10/15/30)		16,858		13,998,455
2.35%, 01/15/27 (Call 10/15/26)^(a)		15,095		14,059,702
2.45%, 08/15/52 (Call 02/15/52)^(a)		16,729		10,859,040
2.65%, 02/01/30 (Call 11/01/29)		20,853		18,473,792
2.65%, 08/15/62 (Call 02/15/62)		13,371		8,341,764
2.80%, 01/15/51 (Call 07/15/50)		18,086		12,479,181
2.89%, 11/01/51 (Call 05/01/51)		51,384		35,950,410
2.94%, 11/01/56 (Call 05/01/56)		59,338		40,041,549
2.99%, 11/01/63 (Call 05/01/63)		38,066		25,320,749
3.15%, 03/01/26 (Call 12/01/25)^(a)		23,184		22,538,947
3.15%, 02/15/28 (Call 11/15/27)^(a)		15,599		14,797,486
3.20%, 07/15/36 (Call 01/15/36)^(a)		10,611		8,934,536
3.25%, 11/01/39 (Call 05/01/39)		15,388		12,513,085
3.30%, 02/01/27 (Call 11/01/26)^(a)		12,409		11,978,178
3.30%, 04/01/27 (Call 02/01/27)		6,023		5,821,322
3.40%, 04/01/30 (Call 01/01/30)^(a)		16,904		15,772,627
3.40%, 07/15/46 (Call 01/15/46)^(a)		16,053		12,538,873
3.45%, 02/01/50 (Call 08/01/49)^(a)		18,586		14,511,765
3.55%, 05/01/28 (Call 02/01/28)		12,608		12,166,141
3.75%, 04/01/40 (Call 10/01/39)		16,203		14,039,587
3.90%, 03/01/38 (Call 09/01/37)		12,685		11,450,236
3.95%, 10/15/25 (Call 08/15/25)		26,135		26,062,567
3.97%, 11/01/47 (Call 05/01/47)		23,113		19,705,963
4.00%, 08/15/47 (Call 02/15/47)		9,941		8,576,568
4.00%, 03/01/48 (Call 09/01/47)^(a)		8,973		7,738,891
4.00%, 11/01/49 (Call 05/01/49)		23,199		19,903,401
4.05%, 11/01/52 (Call 05/01/52)^(a)		11,102		9,499,593
4.15%, 10/15/28 (Call 07/15/28)		39,858		39,508,075
4.20%, 08/15/34 (Call 02/15/34)		8,584		8,147,811
4.25%, 10/15/30 (Call 07/15/30)^(a)		16,479		16,227,939
4.25%, 01/15/33^(a)		14,900		14,482,608
4.40%, 08/15/35 (Call 02/15/35)		7,196		6,935,572
4.60%, 10/15/38 (Call 04/15/38)		10,536		10,155,836
4.60%, 08/15/45 (Call 02/15/45)		8,300		7,725,944
4.70%, 10/15/48 (Call 04/15/48)		20,297		19,274,583
4.95%, 10/15/58 (Call 04/15/58)^(a)		13,089		12,808,433
5.65%, 06/15/35^(a)		10,714		11,493,956
7.05%, 03/15/33^(a)		11,002		12,994,265
Discovery Communications LLC
3.63%, 05/15/30 (Call 02/15/30)^(a)		9,711		8,507,345
3.95%, 03/20/28 (Call 12/20/27)		17,977		16,575,695
4.00%, 09/15/55 (Call 03/15/55)		18,113		11,973,604
4.13%, 05/15/29 (Call 02/15/29)^(a)		11,255		10,231,316
4.65%, 05/15/50 (Call 11/15/49)		9,063		6,893,643
5.20%, 09/20/47 (Call 03/20/47)^(a)		12,987		10,627,001
5.30%, 05/15/49 (Call 11/15/48)		9,067		7,510,940
Fox Corp.
4.71%, 01/25/29 (Call 10/25/28)^(a)		18,882		18,684,859
5.48%, 01/25/39 (Call 07/25/38)		12,319		12,044,241
5.58%, 01/25/49 (Call 07/25/48)^(a)		18,318		17,701,198


Security	Par (000)		Value

Media (continued)
Meta Platforms Inc.
3.50%, 08/15/27	$	32,628	$	31,577,489
3.85%, 08/15/32		25,631		24,036,557
4.45%, 08/15/52		27,903		25,336,624
4.65%, 08/15/62		16,017		14,404,774
Paramount Global
4.00%, 01/15/26 (Call 10/15/25)^(a)		6,938		6,828,479
4.20%, 05/19/32 (Call 02/19/32)^(a)		10,491		9,227,728
4.38%, 03/15/43^(a)		14,415		10,896,915
4.95%, 01/15/31 (Call 10/15/30)^(a)		11,479		10,925,610
4.95%, 05/19/50 (Call 11/19/49)^(a)		9,687		7,917,275
5.85%, 09/01/43 (Call 03/01/43)		14,428		13,056,314
6.88%, 04/30/36		12,157		12,497,581
7.88%, 07/30/30		10,155		11,409,367
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)		10,176		7,683,499
5.50%, 09/01/41 (Call 03/01/41)		14,328		12,314,502
5.88%, 11/15/40 (Call 05/15/40)^(a)		12,773		11,455,611
6.55%, 05/01/37^(a)		17,006		16,767,720
6.75%, 06/15/39		15,139		14,691,883
7.30%, 07/01/38^(a)		15,739		16,200,105
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		9,291		10,625,498
TWDC Enterprises 18 Corp.
1.85%, 07/30/26		13,187		12,154,857
2.95%, 06/15/27^(a)		7,801		7,449,559
3.00%, 02/13/26^(a)		9,090		8,802,966
3.15%, 09/17/25		4,107		4,015,089
4.13%, 06/01/44^(a)		12,472		11,313,854
Walt Disney Co. (The)
1.75%, 01/13/26^(a)		16,630		15,494,522
2.00%, 09/01/29 (Call 06/01/29)^(a)		21,478		18,544,077
2.20%, 01/13/28^(a)		8,441		7,686,499
2.65%, 01/13/31^(a)		24,663		21,762,607
2.75%, 09/01/49 (Call 03/01/49)		21,106		15,093,983
3.50%, 05/13/40 (Call 11/13/39)^(a)		20,053		17,009,771
3.60%, 01/13/51 (Call 07/13/50)^(a)		31,240		26,081,554
3.80%, 03/22/30^(a)		12,221		11,808,980
3.80%, 05/13/60 (Call 11/13/59)^(a)		12,472		10,397,461
4.63%, 03/23/40 (Call 09/23/39)^(a)		10,152		9,955,644
4.70%, 03/23/50 (Call 09/23/49)^(a)		18,998		18,974,788
6.20%, 12/15/34^(a)		8,831		9,989,080
6.40%, 12/15/35		10,592		12,382,792
6.65%, 11/15/37^(a)		15,186		18,097,434


				1,581,326,588

Mining — 0.6%
Barrick Gold Corp., 5.25%, 04/01/42^(a)		10,128		9,858,900
Barrick North America Finance LLC
5.70%, 05/30/41^(a)		9,389		9,628,594
5.75%, 05/01/43^(a)		6,384		6,538,365
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39^(a)		10,085		10,588,448
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		10,142		9,239,896
5.00%, 09/30/43^(a)		25,463		25,785,705
Freeport-McMoRan Inc.
4.63%, 08/01/30 (Call 08/01/25)^(a)		6,212		5,742,723
5.40%, 11/14/34 (Call 05/14/34)^(a)		10,212		9,684,959
5.45%, 03/15/43 (Call 09/15/42)^(a)		19,708		17,594,358
Newmont Corp.
2.25%, 10/01/30 (Call 07/01/30)^(a)		11,068		9,094,423


Security	Par (000)		Value

Mining (continued)
2.60%, 07/15/32 (Call 04/15/32)^(a)	$	9,025	$	7,348,234
4.88%, 03/15/42 (Call 09/15/41)^(a)		11,312		10,646,911
6.25%, 10/01/39^(a)		12,065		12,986,355
Rio Tinto Alcan Inc., 6.13%, 12/15/33^(a)		7,275		8,219,902
Rio Tinto Finance USA Ltd.
2.75%, 11/02/51 (Call 05/02/51)^(a)		13,879		10,030,714
5.20%, 11/02/40^(a)		10,966		11,443,035
7.13%, 07/15/28		11,669		13,205,149
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)^(a)		8,066		7,396,361

				195,033,032

Office & Business Equipment — 0.0%
CDW LLC/CDW Finance Corp.
2.67%, 12/01/26 (Call 11/01/26)^(a)		7,988		7,186,736
3.57%, 12/01/31 (Call 09/01/31)		7,593		6,348,589


				13,535,325

Oil & Gas — 4.2%
BP Capital Markets America Inc.
1.75%, 08/10/30 (Call 05/10/30)		10,458		8,652,321
2.72%, 01/12/32 (Call 10/12/31)^(a)		20,388		17,742,647
2.77%, 11/10/50 (Call 05/10/50)		17,092		11,927,955
2.94%, 06/04/51 (Call 12/04/50)^(a)		25,060		17,913,086
3.00%, 02/24/50 (Call 08/24/49)		23,017		16,721,890
3.00%, 03/17/52 (Call 09/17/51)^(a)		15,901		11,486,011
3.02%, 01/16/27 (Call 10/16/26)		5,751		5,504,854
3.06%, 06/17/41 (Call 12/17/40)^(a)		17,002		13,349,091
3.12%, 05/04/26 (Call 02/04/26)^(a)		13,907		13,466,343
3.38%, 02/08/61 (Call 08/08/60)		20,010		14,952,084
3.41%, 02/11/26 (Call 12/11/25)^(a)		10,431		10,239,168
3.63%, 04/06/30 (Call 01/06/30)^(a)		17,476		16,579,027
3.80%, 09/21/25 (Call 07/21/25)^(a)		6,882		6,856,199
3.94%, 09/21/28 (Call 06/21/28)		13,677		13,365,657
4.23%, 11/06/28 (Call 08/06/28)		19,084		18,930,128
BP Capital Markets PLC
3.28%, 09/19/27 (Call 06/19/27)^(a)		13,696		13,103,288
3.72%, 11/28/28 (Call 08/28/28)^(a)		8,408		8,139,357
Canadian Natural Resources Ltd.
3.85%, 06/01/27 (Call 03/01/27)		10,846		10,371,704
4.95%, 06/01/47 (Call 12/01/46)^(a)		5,267		4,980,708
6.25%, 03/15/38^(a)		15,169		15,819,092
Cenovus Energy Inc.
3.75%, 02/15/52 (Call 08/15/51)^(a)		10,483		8,080,201
4.25%, 04/15/27 (Call 01/15/27)		9,495		9,374,034
4.40%, 04/15/29 (Call 01/15/29)^(a)		10,995		10,652,860
5.40%, 06/15/47 (Call 12/15/46)^(a)		9,982		9,680,060
6.75%, 11/15/39^(a)		16,258		17,621,149
Chevron Corp.
2.00%, 05/11/27 (Call 03/11/27)		8,433		7,787,068
2.24%, 05/11/30 (Call 02/11/30)		19,185		16,833,871
2.95%, 05/16/26 (Call 02/16/26)^(a)		21,780		21,113,020
3.08%, 05/11/50 (Call 11/11/49)^(a)		8,665		6,921,781
3.33%, 11/17/25 (Call 08/17/25)^(a)		3,495		3,449,397
Chevron USA Inc.
1.02%, 08/12/27 (Call 06/12/27)^(a)		12,919		11,257,808
2.34%, 08/12/50 (Call 02/12/50)		10,446		7,175,824
ConocoPhillips, 6.50%, 02/01/39		10,940		12,838,708
ConocoPhillips Co.
3.76%, 03/15/42 (Call 09/15/41)^(c)		14,852		12,960,123
3.80%, 03/15/52 (Call 09/15/51)^(a)		15,244		13,095,038


Security	Par (000)		Value

Oil & Gas (continued)
4.03%, 03/15/62 (Call 09/15/61)^(c)	$	18,458	$	15,669,384
4.30%, 11/15/44 (Call 05/15/44)^(a)		5,579		5,102,001
6.95%, 04/15/29^(a)		4,686		5,354,741
Continental Resources Inc./OK, 4.38%, 01/15/28 (Call 10/15/27)^(a)		11,620		10,915,858
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)^(a)		10,872		9,811,952
5.00%, 06/15/45 (Call 12/15/44)		7,749		7,153,163
5.60%, 07/15/41 (Call 01/15/41)^(a)		14,183		14,029,565
Diamondback Energy Inc.
3.13%, 03/24/31 (Call 12/24/30)^(a)		14,917		12,888,746
3.25%, 12/01/26 (Call 10/01/26)^(a)		7,749		7,459,739
3.50%, 12/01/29 (Call 09/01/29)^(a)		7,260		6,637,331
4.25%, 03/15/52 (Call 09/15/51)		8,316		6,848,667
EOG Resources Inc.
4.15%, 01/15/26 (Call 10/15/25)		7,473		7,483,124
4.38%, 04/15/30 (Call 01/15/30)^(a)		10,677		10,676,301
4.95%, 04/15/50 (Call 10/15/49)^(a)		6,745		6,957,974
EQT Corp.
3.90%, 10/01/27 (Call 07/01/27)		15,542		14,733,816
7.00%, 02/01/30 (Call 11/01/29)^(a)		10,039		10,728,840
Equinor ASA
1.75%, 01/22/26 (Call 12/22/25)		4,753		4,414,199
2.38%, 05/22/30 (Call 02/22/30)^(a)		9,151		8,029,782
3.13%, 04/06/30 (Call 01/06/30)^(a)		10,944		10,129,268
3.25%, 11/18/49 (Call 05/18/49)		7,480		5,980,445
3.63%, 09/10/28 (Call 06/10/28)^(a)		6,659		6,501,077
3.70%, 04/06/50 (Call 10/06/49)		11,258		9,777,530
3.95%, 05/15/43		7,455		6,692,577
4.80%, 11/08/43		6,624		6,657,306
5.10%, 08/17/40		8,846		9,210,919
Exxon Mobil Corp.
2.28%, 08/16/26 (Call 06/16/26)^(a)		10,517		9,941,397
2.44%, 08/16/29 (Call 05/16/29)^(a)		15,030		13,557,786
2.61%, 10/15/30 (Call 07/15/30)^(a)		21,444		19,175,564
3.00%, 08/16/39 (Call 02/16/39)		8,870		7,253,870
3.04%, 03/01/26 (Call 12/01/25)^(a)		27,530		26,858,042
3.10%, 08/16/49 (Call 02/16/49)^(a)		13,858		10,846,345
3.29%, 03/19/27 (Call 01/19/27)^(a)		7,697		7,522,427
3.45%, 04/15/51 (Call 10/15/50)^(a)		32,145		26,508,535
3.48%, 03/19/30 (Call 12/19/29)^(a)		20,840		19,976,459
3.57%, 03/06/45 (Call 09/06/44)^(a)		11,160		9,402,570
4.11%, 03/01/46 (Call 09/01/45)^(a)		24,698		22,708,989
4.23%, 03/19/40 (Call 09/19/39)		22,359		21,239,500
4.33%, 03/19/50 (Call 09/19/49)		30,327		28,863,728
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)^(a)		11,126		10,865,759
5.60%, 02/15/41		15,065		14,528,690
6.00%, 01/15/40^(a)		7,030		7,120,371
Marathon Oil Corp.
4.40%, 07/15/27 (Call 04/15/27)^(a)		10,501		10,217,998
6.60%, 10/01/37^(a)		9,733		10,248,357
Marathon Petroleum Corp.
4.75%, 09/15/44 (Call 03/15/44)		8,585		7,554,687
6.50%, 03/01/41 (Call 09/01/40)		13,683		14,791,413
Phillips 66
2.15%, 12/15/30 (Call 09/15/30)^(a)		13,682		11,234,863
3.30%, 03/15/52 (Call 09/15/51)^(a)		13,619		10,096,819
3.90%, 03/15/28 (Call 12/15/27)		8,985		8,623,430
4.65%, 11/15/34 (Call 05/15/34)^(a)		9,175		8,866,181


Security	Par (000)		Value

Oil & Gas (continued)
4.88%, 11/15/44 (Call 05/15/44)^(a)	$	16,709	$	15,920,626
5.88%, 05/01/42^(a)		15,132		16,179,991
Pioneer Natural Resources Co.
1.13%, 01/15/26 (Call 12/15/25)^(a)		4,337		3,875,673
1.90%, 08/15/30 (Call 05/15/30)		6,639		5,413,179
2.15%, 01/15/31 (Call 10/15/30)^(a)		5,994		4,941,076
Shell International Finance BV
2.38%, 11/07/29 (Call 08/07/29)^(a)		16,251		14,342,981
2.50%, 09/12/26^(a)		9,714		9,199,167
2.75%, 04/06/30 (Call 01/06/30)^(a)		17,102		15,347,099
2.88%, 05/10/26		18,304		17,659,695
3.00%, 11/26/51 (Call 05/26/51)		8,866		6,680,265
3.13%, 11/07/49 (Call 05/07/49)^(a)		13,792		10,662,966
3.25%, 04/06/50 (Call 10/06/49)^(a)		21,286		16,919,137
3.75%, 09/12/46		13,894		11,923,995
3.88%, 11/13/28 (Call 08/13/28)^(a)		15,711		15,405,583
4.00%, 05/10/46		23,722		21,050,955
4.13%, 05/11/35		17,098		16,284,099
4.38%, 05/11/45		29,913		27,959,642
4.55%, 08/12/43		10,446		9,979,356
5.50%, 03/25/40		12,815		13,819,086
6.38%, 12/15/38		33,061		38,411,827
Suncor Energy Inc.
3.75%, 03/04/51 (Call 09/04/50)^(a)		6,621		5,232,460
4.00%, 11/15/47 (Call 05/15/47)^(a)		5,229		4,349,316
6.50%, 06/15/38		13,450		14,437,284
6.80%, 05/15/38		12,043		13,298,646
6.85%, 06/01/39^(a)		8,252		9,189,367
TotalEnergies Capital International SA
2.83%, 01/10/30 (Call 10/10/29)		14,674		13,345,707
2.99%, 06/29/41 (Call 12/29/40)^(a)		7,702		6,121,459
3.13%, 05/29/50 (Call 11/29/49)^(a)		25,219		19,498,799
3.39%, 06/29/60 (Call 12/29/59)^(a)		8,327		6,431,233
3.46%, 02/19/29 (Call 11/19/28)^(a)		12,876		12,313,955
3.46%, 07/12/49 (Call 01/12/49)^(a)		10,535		8,603,041
TotalEnergies Capital SA, 3.88%, 10/11/28^(a)		9,949		9,734,666
Valero Energy Corp.
3.65%, 12/01/51 (Call 06/01/51)		11,388		8,685,286
4.00%, 04/01/29 (Call 01/01/29)		11,953		11,403,051
4.35%, 06/01/28 (Call 03/01/28)^(a)		7,591		7,447,885
6.63%, 06/15/37^(a)		16,353		17,779,359
7.50%, 04/15/32		10,253		11,892,115


				1,448,529,664

Oil & Gas Services — 0.4%
Baker Hughes Holdings LLC, 5.13%, 09/15/40^(a)		13,056		12,608,950
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc.
3.34%, 12/15/27 (Call 09/15/27)^(a)		16,471		15,404,137
4.08%, 12/15/47 (Call 06/15/47)^(a)		13,156		10,902,919
Halliburton Co.
2.92%, 03/01/30 (Call 12/01/29)^(a)		14,309		12,660,676
4.75%, 08/01/43 (Call 02/01/43)		7,212		6,391,293
4.85%, 11/15/35 (Call 05/15/35)^(a)		11,922		11,364,104
5.00%, 11/15/45 (Call 05/15/45)^(a)		22,786		20,727,242
6.70%, 09/15/38		9,661		10,493,003
7.45%, 09/15/39^(a)		10,626		12,355,028
Schlumberger Investment SA, 2.65%, 06/26/30 (Call 03/26/30)^(a)		12,592		11,108,112


				124,015,464


Security	Par (000)		Value

Packaging & Containers — 0.1%
Amcor Flexibles North America Inc., 2.69%, 05/25/31 (Call 02/25/31)	$	3,214	$	2,645,261
Berry Global Inc., 1.57%, 01/15/26 (Call 12/15/25)^(a)		11,339		10,127,887
WRKCo Inc.
4.65%, 03/15/26 (Call 01/15/26)^(a)		6,182		6,222,474
4.90%, 03/15/29 (Call 12/15/28)^(a)		7,161		7,156,389


				26,152,011

Pharmaceuticals — 7.4%
AbbVie Inc.
2.95%, 11/21/26 (Call 09/21/26)		40,634		38,335,091
3.20%, 05/14/26 (Call 02/14/26)		21,772		20,868,573
3.20%, 11/21/29 (Call 08/21/29)^(a)		56,747		51,829,867
4.05%, 11/21/39 (Call 05/21/39)		43,586		38,341,972
4.25%, 11/14/28 (Call 08/14/28)		22,774		22,398,673
4.25%, 11/21/49 (Call 05/21/49)^(a)		58,505		51,386,597
4.30%, 05/14/36 (Call 11/14/35)		12,135		11,300,222
4.40%, 11/06/42		28,900		25,983,551
4.45%, 05/14/46 (Call 11/14/45)^(a)		22,461		20,230,160
4.50%, 05/14/35 (Call 11/14/34)		27,258		25,938,380
4.55%, 03/15/35 (Call 09/15/34)^(a)		17,522		16,798,478
4.70%, 05/14/45 (Call 11/14/44)		27,690		25,677,028
4.75%, 03/15/45 (Call 09/15/44)		10,321		9,651,432
4.85%, 06/15/44 (Call 12/15/43)		12,731		12,106,296
4.88%, 11/14/48 (Call 05/14/48)^(a)		17,805		17,083,912
AmerisourceBergen Corp.
2.70%, 03/15/31 (Call 12/15/30)		12,360		10,548,344
3.45%, 12/15/27 (Call 09/15/27)^(a)		11,281		10,769,559
Astrazeneca Finance LLC
1.20%, 05/28/26 (Call 04/28/26)^(a)		13,204		11,909,815
1.75%, 05/28/28 (Call 03/28/28)		15,384		13,625,095
2.25%, 05/28/31 (Call 02/28/31)		10,253		8,884,287
AstraZeneca PLC
0.70%, 04/08/26 (Call 03/08/26)^(a)		13,433		11,954,710
1.38%, 08/06/30 (Call 05/06/30)^(a)		15,292		12,508,708
3.00%, 05/28/51 (Call 11/28/50)		11,745		9,111,548
3.13%, 06/12/27 (Call 03/12/27)^(a)		7,531		7,257,480
3.38%, 11/16/25^(a)		17,115		16,804,296
4.00%, 01/17/29 (Call 10/17/28)^(a)		11,313		11,235,999
4.00%, 09/18/42^(a)		6,780		6,187,450
4.38%, 11/16/45		10,490		10,029,871
4.38%, 08/17/48 (Call 02/17/48)^(a)		7,471		7,233,663
6.45%, 09/15/37		32,266		37,909,746
Becton Dickinson and Co.
1.96%, 02/11/31 (Call 11/11/30)^(a)		10,381		8,459,736
2.82%, 05/20/30 (Call 02/20/30)^(a)		10,929		9,638,182
3.70%, 06/06/27 (Call 03/06/27)		16,973		16,465,495
3.79%, 05/20/50 (Call 11/20/49)^(a)		4,577		3,792,859
4.67%, 06/06/47 (Call 12/06/46)^(a)		16,282		15,495,365
4.69%, 12/15/44 (Call 06/15/44)^(a)		9,132		8,625,906
Bristol-Myers Squibb Co.
0.75%, 11/13/25 (Call 10/13/25)^(a)		7,539		6,857,876
1.13%, 11/13/27 (Call 09/13/27)^(a)		9,911		8,743,051
1.45%, 11/13/30 (Call 08/13/30)^(a)		15,001		12,250,963
2.35%, 11/13/40 (Call 05/13/40)		8,257		6,030,171
2.55%, 11/13/50 (Call 05/13/50)		16,117		11,085,814
2.95%, 03/15/32 (Call 12/15/31)^(a)		14,711		13,303,990
3.20%, 06/15/26 (Call 04/15/26)^(a)		20,401		19,988,498
3.40%, 07/26/29 (Call 04/26/29)		25,109		23,964,263
3.55%, 03/15/42 (Call 09/15/41)^(a)		12,608		10,777,424
3.70%, 03/15/52 (Call 09/15/51)^(a)		19,698		16,618,925


Security	Par (000)		Value

Pharmaceuticals (continued)
3.90%, 02/20/28 (Call 11/20/27)	$	20,826	$	20,693,130
3.90%, 03/15/62 (Call 09/15/61)		12,038		10,062,165
4.13%, 06/15/39 (Call 12/15/38)		18,500		17,343,352
4.25%, 10/26/49 (Call 04/26/49)		37,633		34,731,131
4.35%, 11/15/47 (Call 05/15/47)		14,604		13,753,748
4.55%, 02/20/48 (Call 08/20/47)		14,374		13,898,512
Cardinal Health Inc., 3.41%, 06/15/27 (Call 03/15/27)^(a)		12,341		11,855,363
Cigna Corp.
1.25%, 03/15/26 (Call 02/15/26)^(a)		12,033		10,850,633
2.38%, 03/15/31 (Call 12/15/30)		17,067		14,570,023
2.40%, 03/15/30 (Call 12/15/29)		20,015		17,269,412
3.20%, 03/15/40 (Call 09/15/39)^(a)		8,570		6,747,826
3.40%, 03/01/27 (Call 12/01/26)		15,069		14,379,280
3.40%, 03/15/50 (Call 09/15/49)		16,627		12,498,240
3.40%, 03/15/51 (Call 09/15/50)^(a)		15,875		11,973,697
3.88%, 10/15/47 (Call 04/15/47)^(a)		12,326		9,912,123
4.13%, 11/15/25 (Call 09/15/25)		17,625		17,493,359
4.38%, 10/15/28 (Call 07/15/28)		38,114		37,534,279
4.50%, 02/25/26 (Call 11/27/25)		16,995		17,050,664
4.80%, 08/15/38 (Call 02/15/38)^(a)		23,403		22,578,246
4.80%, 07/15/46 (Call 01/16/46)		16,054		15,027,938
4.90%, 12/15/48 (Call 06/15/48)		30,645		29,077,845
CVS Health Corp.
1.30%, 08/21/27 (Call 06/21/27)^(a)		23,647		20,489,688
1.75%, 08/21/30 (Call 05/21/30)		15,328		12,386,344
1.88%, 02/28/31 (Call 11/28/30)^(a)		15,120		12,178,159
2.13%, 09/15/31 (Call 06/15/31)^(a)		11,490		9,339,425
2.70%, 08/21/40 (Call 02/21/40)		17,314		12,510,404
2.88%, 06/01/26 (Call 03/01/26)^(a)		17,503		16,715,134
3.00%, 08/15/26 (Call 06/15/26)^(a)		10,562		10,146,471
3.25%, 08/15/29 (Call 05/15/29)^(a)		17,343		15,851,327
3.63%, 04/01/27 (Call 02/01/27)^(a)		8,485		8,254,617
3.75%, 04/01/30 (Call 01/01/30)^(a)		17,526		16,416,413
4.13%, 04/01/40 (Call 10/01/39)^(a)		13,741		11,999,732
4.25%, 04/01/50 (Call 10/01/49)^(a)		10,797		9,244,684
4.30%, 03/25/28 (Call 12/25/27)^(a)		52,061		51,518,925
4.78%, 03/25/38 (Call 09/25/37)^(a)		51,476		48,854,873
5.05%, 03/25/48 (Call 09/25/47)^(a)		84,336		80,869,074
5.13%, 07/20/45 (Call 01/20/45)		35,258		33,726,928
5.30%, 12/05/43 (Call 06/05/43)^(a)		10,632		10,486,166
Eli Lilly & Co.
2.25%, 05/15/50 (Call 11/15/49)^(a)		10,273		7,102,351
2.50%, 09/15/60 (Call 03/15/60)		11,222		7,565,774
3.38%, 03/15/29 (Call 12/15/28)^(a)		13,549		13,124,724
3.95%, 03/15/49 (Call 09/15/48)^(a)		8,788		8,444,399
GlaxoSmithKline Capital Inc.
3.88%, 05/15/28		23,990		23,595,307
6.38%, 05/15/38^(a)		30,930		35,922,532
GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 (Call 03/01/29)^(a)		8,484		8,079,781
Johnson & Johnson
0.55%, 09/01/25 (Call 08/01/25)^(a)		6,724		6,130,579
0.95%, 09/01/27 (Call 07/01/27)^(a)		18,409		16,251,968
1.30%, 09/01/30 (Call 06/01/30)^(a)		20,203		16,939,141
2.10%, 09/01/40 (Call 03/01/40)		9,866		7,174,693
2.25%, 09/01/50 (Call 03/01/50)		13,704		9,437,848
2.45%, 03/01/26 (Call 12/01/25)		18,555		17,850,413
2.45%, 09/01/60 (Call 03/01/60)^(a)		15,298		10,183,788
2.90%, 01/15/28 (Call 10/15/27)		14,909		14,333,647
2.95%, 03/03/27 (Call 12/03/26)^(a)		11,175		10,868,799


Security	Par (000)		Value

Pharmaceuticals (continued)
3.40%, 01/15/38 (Call 07/15/37)	$	10,500	$	9,382,375
3.50%, 01/15/48 (Call 07/15/47)		8,510		7,467,646
3.55%, 03/01/36 (Call 09/01/35)^(a)		10,522		9,767,735
3.63%, 03/03/37 (Call 09/03/36)		15,277		14,207,384
3.70%, 03/01/46 (Call 09/01/45)^(a)		20,440		18,242,906
3.75%, 03/03/47 (Call 09/03/46)^(a)		8,543		7,679,703
4.38%, 12/05/33 (Call 06/05/33)		9,121		9,315,407
5.95%, 08/15/37		11,589		13,483,081
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)^(a)		7,612		7,631,658
Merck & Co. Inc.
0.75%, 02/24/26 (Call 01/24/26)^(a)		10,737		9,709,022
1.45%, 06/24/30 (Call 03/24/30)		18,133		14,974,922
1.70%, 06/10/27 (Call 05/10/27)^(a)		16,960		15,405,309
1.90%, 12/10/28 (Call 10/10/28)^(a)		10,139		8,950,530
2.15%, 12/10/31 (Call 09/10/31)^(a)		18,601		15,834,358
2.35%, 06/24/40 (Call 12/24/39)		9,823		7,223,551
2.45%, 06/24/50 (Call 12/24/49)^(a)		13,409		9,217,382
2.75%, 12/10/51 (Call 06/10/51)		19,500		14,017,673
2.90%, 12/10/61 (Call 06/10/61)		17,051		11,752,097
3.40%, 03/07/29 (Call 12/07/28)^(a)		18,948		18,210,102
3.70%, 02/10/45 (Call 08/10/44)^(a)		21,338		18,421,343
3.90%, 03/07/39 (Call 09/07/38)^(a)		12,829		11,813,347
4.00%, 03/07/49 (Call 09/07/48)		17,023		15,491,369
4.15%, 05/18/43^(a)		11,774		10,947,510
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)		8,243		7,749,723
5.20%, 04/15/48 (Call 10/15/47)		7,467		5,771,893
Novartis Capital Corp.
2.00%, 02/14/27 (Call 12/14/26)^(a)		12,175		11,300,881
2.20%, 08/14/30 (Call 05/14/30)		20,562		18,081,283
2.75%, 08/14/50 (Call 02/14/50)^(a)		12,113		9,167,100
3.00%, 11/20/25 (Call 08/20/25)^(a)		13,314		13,034,234
3.10%, 05/17/27 (Call 02/17/27)^(a)		8,821		8,565,767
4.00%, 11/20/45 (Call 05/20/45)		13,049		12,010,797
4.40%, 05/06/44		18,070		17,701,574
Pfizer Inc.
1.70%, 05/28/30 (Call 02/28/30)		14,398		12,191,741
1.75%, 08/18/31 (Call 05/18/31)^(a)		7,101		5,889,792
2.55%, 05/28/40 (Call 11/28/39)^(a)		10,492		8,043,337
2.63%, 04/01/30 (Call 01/01/30)^(a)		16,378		14,779,262
2.70%, 05/28/50 (Call 11/28/49)^(a)		14,291		10,612,239
2.75%, 06/03/26^(a)		11,429		11,083,945
3.00%, 12/15/26^(a)		18,076		17,595,686
3.45%, 03/15/29 (Call 12/15/28)		15,878		15,326,567
3.60%, 09/15/28 (Call 06/15/28)^(a)		9,738		9,654,241
3.90%, 03/15/39 (Call 09/15/38)		8,101		7,538,058
4.00%, 12/15/36		6,125		5,845,201
4.00%, 03/15/49 (Call 09/15/48)^(a)		14,017		13,136,727
4.13%, 12/15/46		12,724		12,109,444
4.20%, 09/15/48 (Call 03/15/48)		12,009		11,576,288
4.30%, 06/15/43^(a)		11,361		10,898,656
4.40%, 05/15/44^(a)		12,033		11,641,027
7.20%, 03/15/39		26,158		33,583,152
Shire Acquisitions Investments Ireland DAC, 3.20%, 09/23/26 (Call 06/23/26)^(a)		31,607		30,184,590
Takeda Pharmaceutical Co. Ltd.
2.05%, 03/31/30 (Call 12/31/29)		28,895		24,151,088
3.03%, 07/09/40 (Call 01/09/40)^(a)		13,740		10,657,516
3.18%, 07/09/50 (Call 01/09/50)		23,890		17,481,868


Security	Par (000)		Value

Pharmaceuticals (continued)
3.38%, 07/09/60 (Call 01/09/60)	$	10,369	$	7,483,079
5.00%, 11/26/28 (Call 08/26/28)^(a)		17,848		18,096,114
Utah Acquisition Sub Inc.
3.95%, 06/15/26 (Call 03/15/26)^(a)		22,275		20,942,748
5.25%, 06/15/46 (Call 12/15/45)		11,156		8,848,387
Viatris Inc.
2.30%, 06/22/27 (Call 04/22/27)		8,113		6,989,720
2.70%, 06/22/30 (Call 03/22/30)		14,729		11,602,967
3.85%, 06/22/40 (Call 12/22/39)		16,404		11,387,253
4.00%, 06/22/50 (Call 12/22/49)		22,233		14,327,681
Wyeth LLC
5.95%, 04/01/37^(a)		23,265		26,339,916
6.50%, 02/01/34		10,252		12,038,578
Zoetis Inc.
2.00%, 05/15/30 (Call 02/15/30)^(a)		9,391		7,905,274
3.00%, 09/12/27 (Call 06/12/27)		10,764		10,190,719
4.50%, 11/13/25 (Call 08/13/25)^(a)		7,053		7,157,784
4.70%, 02/01/43 (Call 08/01/42)^(a)		13,546		12,988,016


				2,572,102,718

Pipelines — 3.1%
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/29 (Call 05/18/29)^(a)		20,350		18,728,156
5.13%, 06/30/27 (Call 01/01/27)^(a)		13,833		13,800,274
Enbridge Inc.
2.50%, 08/01/33 (Call 05/01/33)^(a)		10,750		8,677,596
3.13%, 11/15/29 (Call 08/15/29)^(a)		10,082		9,117,741
3.40%, 08/01/51 (Call 02/01/51)^(a)		10,660		7,940,109
4.25%, 12/01/26 (Call 09/01/26)		7,405		7,292,389
5.50%, 12/01/46 (Call 06/01/46)^(a)		6,143		6,307,035
Energy Transfer LP
3.75%, 05/15/30 (Call 02/15/30)^(a)		16,540		14,878,886
4.00%, 10/01/27 (Call 07/01/27)^(a)		7,569		7,179,246
4.75%, 01/15/26 (Call 10/15/25)		9,674		9,592,490
4.95%, 05/15/28 (Call 02/15/28)^(a)		8,843		8,645,888
4.95%, 06/15/28 (Call 03/15/28)^(a)		7,424		7,303,363
5.00%, 05/15/50 (Call 11/15/49)^(a)		19,761		16,930,875
5.15%, 03/15/45 (Call 09/15/44)^(a)		10,898		9,393,103
5.25%, 04/15/29 (Call 01/15/29)		14,671		14,484,184
5.30%, 04/15/47 (Call 10/15/46)^(a)		8,093		7,068,737
5.35%, 05/15/45 (Call 11/15/44)^(a)		8,857		7,820,949
5.40%, 10/01/47 (Call 04/01/47)^(a)		16,846		14,936,595
5.50%, 06/01/27 (Call 03/01/27)^(a)		13,492		13,650,180
6.00%, 06/15/48 (Call 12/15/47)		12,540		11,911,111
6.13%, 12/15/45 (Call 06/15/45)		11,108		10,647,310
6.25%, 04/15/49 (Call 10/15/48)^(a)		18,551		18,221,592
6.50%, 02/01/42 (Call 08/01/41)^(a)		12,582		12,717,221
Enterprise Products Operating LLC
2.80%, 01/31/30 (Call 10/31/29)^(a)		13,952		12,293,495
3.13%, 07/31/29 (Call 04/30/29)^(a)		10,609		9,592,062
3.20%, 02/15/52 (Call 08/15/51)		12,944		9,380,966
3.30%, 02/15/53 (Call 08/15/52)		17,787		13,067,011
3.70%, 02/15/26 (Call 11/15/25)		6,555		6,470,920
3.70%, 01/31/51 (Call 07/31/50)^(a)		12,764		10,028,093
3.95%, 01/31/60 (Call 07/31/59)		7,108		5,521,490
4.15%, 10/16/28 (Call 07/16/28)		9,001		8,827,935
4.20%, 01/31/50 (Call 07/31/49)^(a)		13,614		11,527,762
4.25%, 02/15/48 (Call 08/15/47)^(a)		12,531		10,714,261
4.45%, 02/15/43 (Call 08/15/42)^(a)		11,665		10,316,526
4.80%, 02/01/49 (Call 08/01/48)^(a)		13,064		12,020,122
4.85%, 08/15/42 (Call 02/15/42)^(a)		9,230		8,667,251


Security	Par (000)		Value

Pipelines (continued)
4.85%, 03/15/44 (Call 09/15/43)^(a)	$	12,697	$	11,740,201
4.90%, 05/15/46 (Call 11/15/45)		12,039		11,244,876
5.10%, 02/15/45 (Call 08/15/44)^(a)		11,968		11,355,278
5.95%, 02/01/41		7,984		8,346,301
Kinder Morgan Energy Partners LP
5.50%, 03/01/44 (Call 09/01/43)^(a)		5,930		5,537,750
6.95%, 01/15/38^(a)		10,517		11,383,119
Kinder Morgan Inc.
2.00%, 02/15/31 (Call 11/15/30)^(a)		8,567		6,818,250
3.60%, 02/15/51 (Call 08/15/50)		10,094		7,511,770
4.30%, 03/01/28 (Call 12/01/27)^(a)		12,542		12,252,120
4.80%, 02/01/33 (Call 11/01/32)		8,343		8,032,786
5.05%, 02/15/46 (Call 08/15/45)^(a)		8,669		7,895,170
5.20%, 03/01/48 (Call 09/01/47)^(a)		7,762		7,201,116
5.30%, 12/01/34 (Call 06/01/34)^(a)		6,001		5,878,547
5.45%, 08/01/52 (Call 02/01/52)^(a)		7,384		7,163,262
5.55%, 06/01/45 (Call 12/01/44)^(a)		18,908		18,288,438
7.75%, 01/15/32^(a)		10,281		11,926,168
Magellan Midstream Partners LP, 3.95%, 03/01/50 (Call 09/01/49)^(a)		8,604		6,727,209
MPLX LP
1.75%, 03/01/26 (Call 02/01/26)		11,368		10,293,994
2.65%, 08/15/30 (Call 05/15/30)		17,156		14,314,133
4.00%, 03/15/28 (Call 12/15/27)^(a)		10,872		10,395,315
4.13%, 03/01/27 (Call 12/01/26)		11,494		11,121,036
4.50%, 04/15/38 (Call 10/15/37)^(a)		18,151		16,005,895
4.70%, 04/15/48 (Call 10/15/47)		15,633		13,354,776
4.80%, 02/15/29 (Call 11/15/28)^(a)		9,756		9,543,857
4.95%, 09/01/32		17,601		17,002,918
4.95%, 03/14/52 (Call 09/14/51)		17,669		15,557,037
5.20%, 03/01/47 (Call 09/01/46)		9,705		8,845,471
5.50%, 02/15/49 (Call 08/15/48)		16,611		15,684,889
ONEOK Inc.
3.10%, 03/15/30 (Call 12/15/29)^(a)		10,024		8,656,560
3.40%, 09/01/29 (Call 06/01/29)		7,608		6,737,166
4.55%, 07/15/28 (Call 04/15/28)		8,626		8,372,006
5.20%, 07/15/48 (Call 01/15/48)^(a)		8,752		7,858,898
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/29 (Call 09/15/29)^(a)		11,699		10,253,931
3.80%, 09/15/30 (Call 06/15/30)^(a)		11,118		9,857,158
4.50%, 12/15/26 (Call 09/15/26)^(a)		6,700		6,543,153
4.65%, 10/15/25 (Call 07/15/25)		6,753		6,687,737
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)		10,850		10,366,562
4.50%, 05/15/30 (Call 11/15/29)^(a)		23,011		21,997,312
5.00%, 03/15/27 (Call 09/15/26)		14,136		14,095,140
5.88%, 06/30/26 (Call 12/31/25)		14,575		15,011,387
Targa Resources Corp.
4.20%, 02/01/33 (Call 11/01/32)^(a)		9,583		8,632,504
4.95%, 04/15/52 (Call 10/15/51)^(a)		7,793		6,728,681
5.20%, 07/01/27 (Call 06/01/27)		9,660		9,651,161
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.00%, 01/15/32 (Call 07/15/26)^(a)		13,917		12,177,236
4.88%, 02/01/31 (Call 02/01/26)^(a)		12,178		11,263,554
5.50%, 03/01/30 (Call 03/01/25)		9,442		9,150,586
6.50%, 07/15/27 (Call 10/03/22)^(a)		10,924		11,238,065
TransCanada PipeLines Ltd.
2.50%, 10/12/31 (Call 07/12/31)^(a)		15,755		12,949,116
4.10%, 04/15/30 (Call 01/15/30)^(a)		12,699		12,073,917


Security	Par (000)		Value

Pipelines (continued)
4.25%, 05/15/28 (Call 02/15/28)	$	16,933	$	16,483,309
4.63%, 03/01/34 (Call 12/01/33)^(a)		11,221		10,715,731
4.88%, 01/15/26 (Call 10/15/25)^(a)		6,656		6,724,251
4.88%, 05/15/48 (Call 11/15/47)^(a)		8,891		8,461,037
5.10%, 03/15/49 (Call 09/15/48)^(a)		10,456		10,353,586
6.10%, 06/01/40^(a)		9,056		9,593,853
6.20%, 10/15/37^(a)		13,344		14,367,712
7.63%, 01/15/39^(a)		13,135		16,044,020
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)		10,063		11,004,689
Williams Companies Inc. (The)
2.60%, 03/15/31 (Call 12/15/30)^(a)		19,545		16,319,473
3.50%, 11/15/30 (Call 08/15/30)		10,474		9,427,087
3.75%, 06/15/27 (Call 03/15/27)		10,687		10,320,930
4.85%, 03/01/48 (Call 09/01/47)^(a)		7,476		6,732,483
5.10%, 09/15/45 (Call 03/15/45)^(a)		10,311		9,528,562
6.30%, 04/15/40^(a)		15,014		15,965,329
Williams Cos. Inc.
4.65%, 08/15/32		6,871		6,603,025
5.30%, 08/15/52^(a)		2,942		2,861,853


				1,088,903,366

Real Estate Investment Trusts — 1.7%
Alexandria Real Estate Equities Inc.
1.88%, 02/01/33 (Call 11/01/32)		9,324		7,007,125
2.00%, 05/18/32 (Call 02/18/32)^(a)		5,908		4,661,327
2.95%, 03/15/34 (Call 12/15/33)^(a)		9,415		7,930,735
3.00%, 05/18/51 (Call 11/18/50)^(a)		9,789		6,671,433
3.38%, 08/15/31 (Call 05/15/31)		3,996		3,559,359
3.55%, 03/15/52 (Call 09/15/51)		11,466		8,683,768
American Tower Corp.
1.88%, 10/15/30 (Call 07/15/30)		8,845		6,967,539
2.10%, 06/15/30 (Call 03/15/30)^(a)		7,090		5,730,617
2.75%, 01/15/27 (Call 11/15/26)		9,810		8,977,607
2.90%, 01/15/30 (Call 10/15/29)^(a)		7,962		6,860,840
2.95%, 01/15/51 (Call 07/15/50)		10,508		7,067,018
3.10%, 06/15/50 (Call 12/15/49)		12,347		8,602,813
3.38%, 10/15/26 (Call 07/15/26)^(a)		15,248		14,385,854
3.55%, 07/15/27 (Call 04/15/27)		10,943		10,329,796
3.80%, 08/15/29 (Call 05/15/29)^(a)		15,170		14,015,090
Boston Properties LP
2.45%, 10/01/33 (Call 07/01/33)^(a)		11,450		8,661,821
2.55%, 04/01/32 (Call 01/01/32)^(a)		5,804		4,602,645
2.75%, 10/01/26 (Call 07/01/26)^(a)		10,391		9,688,031
3.25%, 01/30/31 (Call 10/30/30)		15,649		13,498,316
3.40%, 06/21/29 (Call 03/21/29)		8,682		7,780,212
3.65%, 02/01/26 (Call 11/03/25)^(a)		8,924		8,684,191
4.50%, 12/01/28 (Call 09/01/28)		7,164		6,976,297
Brixmor Operating Partnership LP
4.05%, 07/01/30 (Call 04/01/30)^(a)		5,883		5,227,177
4.13%, 05/15/29 (Call 02/15/29)		8,884		8,178,306
Crown Castle Inc.
1.05%, 07/15/26 (Call 06/15/26)^(a)		10,826		9,480,990
2.10%, 04/01/31 (Call 01/01/31)^(a)		10,972		8,737,894
2.25%, 01/15/31 (Call 10/15/30)		14,172		11,488,041
2.90%, 04/01/41 (Call 10/01/40)		14,030		10,053,939
3.25%, 01/15/51 (Call 07/15/50)^(a)		10,005		7,110,452
3.30%, 07/01/30 (Call 04/01/30)^(a)		10,348		9,174,000
3.65%, 09/01/27 (Call 06/01/27)^(a)		10,624		10,120,536
3.70%, 06/15/26 (Call 03/15/26)^(a)		10,438		10,097,845
3.80%, 02/15/28 (Call 11/15/27)		8,660		8,180,452


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
4.45%, 02/15/26 (Call 11/15/25)^(a)	$	10,901	$	10,849,197
Crown Castle International Corp.
2.50%, 07/15/31 (Call 04/15/31)		8,806		7,212,505
2.90%, 03/15/27 (Call 02/15/27)^(a)		8,291		7,681,850
Digital Realty Trust LP
3.60%, 07/01/29 (Call 04/01/29)^(a)		8,527		7,859,873
3.70%, 08/15/27 (Call 05/15/27)^(a)		10,670		10,180,579
Equinix Inc.
2.15%, 07/15/30 (Call 04/15/30)^(a)		11,550		9,428,208
2.50%, 05/15/31 (Call 02/15/31)		13,007		10,674,697
3.20%, 11/18/29 (Call 08/18/29)^(a)		15,034		13,456,339
3.90%, 04/15/32 (Call 01/15/32)^(a)		9,494		8,618,587
ERP Operating LP, 4.50%, 07/01/44 (Call 01/01/44)		8,412		7,848,171
GLP Capital LP/GLP Financing II Inc.
3.25%, 01/15/32 (Call 10/15/31)^(a)		8,635		6,930,062
5.30%, 01/15/29 (Call 10/15/28)^(a)		8,624		8,327,743
5.38%, 04/15/26 (Call 01/15/26)^(a)		5,888		5,793,867
Healthcare Realty Holdings LP, 2.00%, 03/15/31 (Call 12/15/30)^(a)		5,635		4,389,784
Healthpeak Properties Inc., 3.00%, 01/15/30 (Call 10/15/29)^(a)		9,929		8,785,821
Prologis LP
1.25%, 10/15/30 (Call 07/15/30)^(a)		8,789		7,032,231
2.25%, 04/15/30 (Call 01/15/30)^(a)		10,285		8,948,643
Realty Income Corp., 3.25%, 01/15/31 (Call 10/15/30)		8,928		8,016,631
Simon Property Group LP
1.75%, 02/01/28 (Call 11/01/27)		10,592		9,173,721
2.45%, 09/13/29 (Call 06/13/29)		12,583		10,863,288
2.65%, 07/15/30 (Call 04/15/30)^(a)		3,728		3,208,171
3.25%, 11/30/26 (Call 08/30/26)^(a)		10,452		10,047,049
3.25%, 09/13/49 (Call 03/13/49)		13,966		10,115,282
3.30%, 01/15/26 (Call 10/15/25)		12,843		12,475,968
3.38%, 06/15/27 (Call 03/15/27)		8,373		8,014,377
3.38%, 12/01/27 (Call 09/01/27)^(a)		7,333		6,937,464
3.50%, 09/01/25 (Call 06/01/25)		3,650		3,597,368
3.80%, 07/15/50 (Call 01/15/50)^(a)		6,472		5,254,698
Ventas Realty LP, 4.40%, 01/15/29 (Call 10/15/28)^(a)		9,294		8,944,240
VICI Properties LP
4.75%, 02/15/28 (Call 01/15/28)^(a)		13,424		12,856,098
4.95%, 02/15/30 (Call 12/15/29)^(a)		11,145		10,651,113
5.13%, 05/15/32 (Call 02/15/32)^(a)		13,553		12,867,828
5.63%, 05/15/52 (Call 11/15/51)^(a)		7,449		6,869,304
Welltower Inc.
2.80%, 06/01/31 (Call 03/01/31)^(a)		7,680		6,472,682
3.10%, 01/15/30 (Call 10/15/29)^(a)		6,285		5,543,378
4.25%, 04/15/28 (Call 01/15/28)^(a)		10,372		10,099,179
Weyerhaeuser Co.
4.00%, 11/15/29 (Call 08/15/29)		7,945		7,507,575
4.00%, 04/15/30 (Call 01/15/30)^(a)		10,167		9,561,111


				602,286,748

Retail — 3.1%
AutoZone Inc.
4.00%, 04/15/30 (Call 01/15/30)		10,768		10,228,223
4.75%, 08/01/32 (Call 05/01/32)		713		707,315
Costco Wholesale Corp.
1.38%, 06/20/27 (Call 04/20/27)		15,151		13,591,805
1.60%, 04/20/30 (Call 01/20/30)		21,573		18,194,019
1.75%, 04/20/32 (Call 01/20/32)		8,940		7,358,039
3.00%, 05/18/27 (Call 02/18/27)^(a)		11,683		11,378,483


Security	Par (000)		Value

Retail (continued)
Dollar General Corp., 3.50%, 04/03/30 (Call 01/03/30)^(a)	$	11,317	$	10,435,925
Dollar Tree Inc.
2.65%, 12/01/31 (Call 09/01/31)		8,987		7,491,864
4.20%, 05/15/28 (Call 02/15/28)^(a)		13,301		12,977,235
Home Depot Inc. (The)
1.38%, 03/15/31 (Call 12/15/30)		13,057		10,495,444
1.50%, 09/15/28 (Call 07/15/28)^(a)		9,473		8,223,171
1.88%, 09/15/31 (Call 06/15/31)^(a)		10,435		8,621,566
2.13%, 09/15/26 (Call 06/15/26)^(a)		11,392		10,701,254
2.38%, 03/15/51 (Call 09/15/50)		13,650		8,939,722
2.50%, 04/15/27 (Call 02/15/27)^(a)		12,254		11,564,366
2.70%, 04/15/30 (Call 01/15/30)		18,323		16,496,789
2.75%, 09/15/51 (Call 03/15/51)		11,486		8,207,580
2.80%, 09/14/27 (Call 06/14/27)^(a)		12,333		11,728,097
2.88%, 04/15/27 (Call 03/15/27)		10,772		10,364,884
2.95%, 06/15/29 (Call 03/15/29)^(a)		19,073		17,721,016
3.00%, 04/01/26 (Call 01/01/26)^(a)		14,651		14,240,743
3.13%, 12/15/49 (Call 06/15/49)		13,490		10,349,042
3.25%, 04/15/32 (Call 01/15/32)^(a)		15,135		13,987,095
3.30%, 04/15/40 (Call 10/15/39)^(a)		12,256		10,250,483
3.35%, 09/15/25 (Call 06/15/25)^(a)		5,744		5,700,591
3.35%, 04/15/50 (Call 10/15/49)^(a)		15,413		12,298,002
3.50%, 09/15/56 (Call 03/15/56)^(a)		9,590		7,705,970
3.63%, 04/15/52 (Call 10/15/51)^(a)		18,770		15,691,675
3.90%, 12/06/28 (Call 09/06/28)^(a)		15,984		15,845,371
3.90%, 06/15/47 (Call 12/15/46)^(a)		11,708		10,266,216
4.20%, 04/01/43 (Call 10/01/42)^(a)		10,054		9,225,171
4.25%, 04/01/46 (Call 10/01/45)^(a)		17,011		15,779,126
4.40%, 03/15/45 (Call 09/15/44)^(a)		11,445		10,785,795
4.50%, 12/06/48 (Call 06/06/48)		16,103		15,465,721
4.88%, 02/15/44 (Call 08/15/43)^(a)		9,627		9,570,186
5.88%, 12/16/36^(a)		35,020		39,311,403
5.95%, 04/01/41 (Call 10/01/40)^(a)		9,306		10,448,941
Lowe’s Companies Inc.
1.30%, 04/15/28 (Call 02/15/28)^(a)		9,594		8,141,460
1.70%, 09/15/28 (Call 07/15/28)^(a)		11,579		9,951,987
1.70%, 10/15/30 (Call 07/15/30)^(a)		14,671		11,761,453
2.50%, 04/15/26 (Call 01/15/26)^(a)		12,365		11,755,768
2.63%, 04/01/31 (Call 01/01/31)		19,084		16,370,242
2.80%, 09/15/41 (Call 03/15/41)		13,553		9,634,883
3.00%, 10/15/50 (Call 04/15/50)		15,761		10,785,025
3.10%, 05/03/27 (Call 02/03/27)^(a)		14,199		13,477,865
3.35%, 04/01/27 (Call 03/01/27)^(a)		13,840		13,337,287
3.38%, 09/15/25 (Call 06/15/25)^(a)		7,206		7,062,237
3.65%, 04/05/29 (Call 01/05/29)^(a)		12,260		11,579,158
3.70%, 04/15/46 (Call 10/15/45)^(a)		13,135		10,448,242
3.75%, 04/01/32 (Call 01/01/32)^(a)		15,925		14,676,206
4.05%, 05/03/47 (Call 11/03/46)^(a)		17,283		14,345,213
4.25%, 04/01/52 (Call 10/01/51)^(a)		15,219		12,993,555
4.45%, 04/01/62 (Call 10/01/61)		15,807		13,351,922
4.50%, 04/15/30 (Call 01/15/30)^(a)		14,480		14,299,588
McDonald’s Corp.
2.13%, 03/01/30 (Call 12/01/29)^(a)		8,283		7,115,238
2.63%, 09/01/29 (Call 06/01/29)^(a)		8,491		7,632,103
3.50%, 03/01/27 (Call 12/01/26)^(a)		10,667		10,447,808
3.50%, 07/01/27 (Call 05/01/27)^(a)		12,586		12,228,802
3.60%, 07/01/30 (Call 04/01/30)		10,326		9,789,092
3.63%, 09/01/49 (Call 03/01/49)		16,025		12,936,553
3.70%, 01/30/26 (Call 10/30/25)^(a)		16,873		16,715,943


Security	Par (000)		Value

Retail (continued)
3.80%, 04/01/28 (Call 01/01/28)	$	11,518	$	11,303,638
4.20%, 04/01/50 (Call 10/01/49)^(a)		11,424		10,083,614
4.45%, 03/01/47 (Call 09/01/46)		10,845		10,045,658
4.45%, 09/01/48 (Call 03/01/48)^(a)		8,133		7,555,568
4.70%, 12/09/35 (Call 06/09/35)		4,796		4,788,718
4.88%, 12/09/45 (Call 06/09/45)^(a)		20,094		19,569,683
6.30%, 10/15/37^(a)		10,633		12,019,882
6.30%, 03/01/38^(a)		7,996		9,060,544
O’Reilly Automotive Inc.
3.60%, 09/01/27 (Call 06/01/27)^(a)		11,923		11,497,647
4.70%, 06/15/32 (Call 03/15/32)^(a)		9,521		9,427,672
Starbucks Corp.
2.25%, 03/12/30 (Call 12/12/29)^(a)		10,110		8,588,459
2.55%, 11/15/30 (Call 08/15/30)^(a)		11,973		10,270,120
3.00%, 02/14/32 (Call 11/14/31)^(a)		11,030		9,634,154
3.50%, 11/15/50 (Call 05/15/50)		12,187		9,368,320
3.55%, 08/15/29 (Call 05/15/29)^(a)		10,930		10,264,954
4.00%, 11/15/28 (Call 08/15/28)^(a)		10,324		10,111,851
4.45%, 08/15/49 (Call 02/15/49)^(a)		11,292		10,085,990
4.50%, 11/15/48 (Call 05/15/48)^(a)		11,438		10,317,036
Target Corp.
1.95%, 01/15/27 (Call 12/15/26)^(a)		10,112		9,397,983
2.35%, 02/15/30 (Call 11/15/29)^(a)		5,228		4,604,749
2.50%, 04/15/26^(a)		14,202		13,622,610
2.95%, 01/15/52 (Call 07/15/51)^(a)		13,037		9,826,972
3.38%, 04/15/29 (Call 01/15/29)^(a)		11,183		10,742,213
4.00%, 07/01/42^(a)		7,935		7,287,420
TJX Companies Inc. (The), 2.25%, 09/15/26 (Call 06/15/26)^(a)		12,793		12,092,458
Walgreens Boots Alliance Inc.
3.45%, 06/01/26 (Call 03/01/26)^(a)		5,954		5,781,452
4.10%, 04/15/50 (Call 10/15/49)		7,167		5,667,138
4.80%, 11/18/44 (Call 05/18/44)^(a)		1,500		1,316,213
Walmart Inc.
2.50%, 09/22/41 (Call 03/22/41)^(a)		23,986		18,548,511
2.65%, 09/22/51 (Call 03/22/51)^(a)		20,116		15,089,251
3.05%, 07/08/26 (Call 05/08/26)		8,614		8,463,666
3.70%, 06/26/28 (Call 03/26/28)^(a)		21,400		21,164,268
4.05%, 06/29/48 (Call 12/29/47)		17,551		16,775,449
5.25%, 09/01/35^(a)		11,175		12,256,140
6.20%, 04/15/38^(a)		2,551		3,090,106
6.50%, 08/15/37^(a)		2,853		3,553,549


				1,086,459,614

Semiconductors — 3.2%
Analog Devices Inc.
1.70%, 10/01/28 (Call 08/01/28)		12,445		10,896,184
2.10%, 10/01/31 (Call 07/01/31)^(a)		7,618		6,457,325
2.80%, 10/01/41 (Call 04/01/41)^(a)		5,661		4,408,949
2.95%, 10/01/51 (Call 04/01/51)^(a)		10,878		8,237,748
3.50%, 12/05/26 (Call 09/05/26)^(a)		10,247		10,072,073
Applied Materials Inc.
1.75%, 06/01/30 (Call 03/01/30)		12,188		10,237,571
2.75%, 06/01/50 (Call 12/01/49)		5,991		4,444,381
3.30%, 04/01/27 (Call 01/01/27)^(a)		11,740		11,482,133
4.35%, 04/01/47 (Call 10/01/46)^(a)		10,625		10,317,385
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.50%, 01/15/28 (Call 10/15/27)^(a)		12,891		11,917,612
3.88%, 01/15/27 (Call 10/15/26)^(a)		31,557		30,308,349
Broadcom Inc.
1.95%, 02/15/28 (Call 12/15/27)^(a)(c)		7,552		6,454,578


Security	Par (000)		Value

Semiconductors (continued)
2.45%, 02/15/31 (Call 11/15/30)^(c)	$	31,068	$	24,760,435
2.60%, 02/15/33 (Call 11/15/32)^(c)		15,298		11,776,215
3.14%, 11/15/35 (Call 08/15/35)^(c)		31,422		23,766,891
3.15%, 11/15/25 (Call 10/15/25)^(a)		6,415		6,160,978
3.19%, 11/15/36 (Call 08/15/36)^(a)(c)		26,401		19,601,882
3.42%, 04/15/33 (Call 01/15/33)^(c)		24,495		20,176,977
3.46%, 09/15/26 (Call 07/15/26)^(a)		9,981		9,573,687
3.47%, 04/15/34 (Call 01/15/34)^(c)		32,012		25,941,337
3.50%, 02/15/41 (Call 08/15/40)^(a)(c)		31,199		23,475,694
3.75%, 02/15/51 (Call 08/15/50)^(a)(c)		15,386		11,255,581
4.00%, 04/15/29 (Call 02/15/29)^(a)(c)		11,767		10,893,278
4.11%, 09/15/28 (Call 06/15/28)		4,567		4,339,757
4.15%, 11/15/30 (Call 08/15/30)		19,684		17,984,995
4.15%, 04/15/32 (Call 01/15/32)^(a)(c)		12,054		10,771,149
4.30%, 11/15/32 (Call 08/15/32)^(a)		19,395		17,517,343
4.75%, 04/15/29 (Call 01/15/29)		2,425		2,378,884
4.93%, 05/15/37 (Call 02/15/37)^(c)		46,559		41,456,567
Intel Corp.
1.60%, 08/12/28 (Call 06/12/28)		8,732		7,576,480
2.00%, 08/12/31 (Call 05/12/31)^(a)		12,579		10,382,841
2.45%, 11/15/29 (Call 08/15/29)		18,760		16,444,468
2.60%, 05/19/26 (Call 02/19/26)		6,312		6,052,418
2.80%, 08/12/41 (Call 02/12/41)^(a)		8,985		6,651,797
3.05%, 08/12/51 (Call 02/12/51)		14,162		10,127,888
3.10%, 02/15/60 (Call 08/15/59)		10,209		6,979,740
3.15%, 05/11/27 (Call 02/11/27)^(a)		11,338		10,920,517
3.20%, 08/12/61 (Call 02/12/61)^(a)		7,314		5,131,743
3.25%, 11/15/49 (Call 05/15/49)		18,747		13,966,294
3.73%, 12/08/47 (Call 06/08/47)		21,291		17,387,896
3.75%, 03/25/27 (Call 01/25/27)^(a)		9,829		9,692,169
3.75%, 08/05/27^(a)		7,378		7,247,028
3.90%, 03/25/30 (Call 12/25/29)		12,963		12,467,369
4.00%, 08/05/29		7,363		7,163,056
4.00%, 12/15/32^(a)		9,422		9,030,694
4.10%, 05/19/46 (Call 11/19/45)^(a)		15,341		13,450,314
4.10%, 05/11/47 (Call 11/11/46)^(a)		10,761		9,386,821
4.15%, 08/05/32^(a)		8,094		7,827,117
4.60%, 03/25/40 (Call 09/25/39)		7,194		6,817,684
4.75%, 03/25/50 (Call 09/25/49)^(a)		26,550		25,232,645
4.80%, 10/01/41^(a)		6,921		6,682,112
4.90%, 07/29/45 (Call 01/29/45)^(a)		7,634		7,449,210
4.90%, 08/05/52		17,376		16,925,350
4.95%, 03/25/60 (Call 09/25/59)^(a)		10,069		9,666,259
5.05%, 08/05/62		10,608		10,265,185
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)^(a)		8,703		6,775,473
4.10%, 03/15/29 (Call 12/15/28)^(a)		4,949		4,919,383
4.65%, 07/15/32 (Call 04/15/32)^(a)		8,968		9,117,442
4.95%, 07/15/52 (Call 01/15/52)		13,604		13,649,163
5.25%, 07/15/62 (Call 01/15/62)		7,016		7,156,567
Lam Research Corp.
1.90%, 06/15/30 (Call 03/15/30)		11,633		9,757,353
2.88%, 06/15/50 (Call 12/15/49)		4,776		3,512,891
3.75%, 03/15/26 (Call 01/15/26)		12,111		12,063,766
4.00%, 03/15/29 (Call 12/15/28)^(a)		8,270		8,122,156
4.88%, 03/15/49 (Call 09/15/48)^(a)		8,510		8,643,161
Marvell Technology Inc.
2.45%, 04/15/28 (Call 02/15/28)^(a)		8,219		7,147,961
2.95%, 04/15/31 (Call 01/15/31)^(a)		9,338		7,668,468


Security	Par (000)		Value

Semiconductors (continued)
Microchip Technology Inc., 4.25%, 09/01/25 (Call 10/03/22)	$	5,192	$	5,143,896
Micron Technology Inc.
2.70%, 04/15/32 (Call 01/15/32)		11,096		8,635,965
4.19%, 02/15/27 (Call 12/15/26)^(a)		14,593		14,229,757
4.66%, 02/15/30 (Call 11/15/29)		11,033		10,347,781
NVIDIA Corp.
1.55%, 06/15/28 (Call 04/15/28)		16,344		14,260,568
2.00%, 06/15/31 (Call 03/15/31)^(a)		13,881		11,657,497
2.85%, 04/01/30 (Call 01/01/30)		17,222		15,562,541
3.20%, 09/16/26 (Call 06/16/26)^(a)		11,234		11,057,132
3.50%, 04/01/40 (Call 10/01/39)		13,889		11,930,308
3.50%, 04/01/50 (Call 10/01/49)^(a)		18,044		14,947,406
NXP BV/NXP Funding LLC/NXP USA Inc.
2.50%, 05/11/31 (Call 02/11/31)^(a)		10,824		8,699,287
2.65%, 02/15/32 (Call 11/15/31)^(a)		9,468		7,640,077
3.25%, 05/11/41 (Call 11/11/40)^(a)		12,985		9,427,245
3.40%, 05/01/30 (Call 02/01/30)		9,554		8,427,421
3.88%, 06/18/26 (Call 04/18/26)		11,008		10,645,552
4.30%, 06/18/29 (Call 03/18/29)		12,766		12,038,614
5.00%, 01/15/33 (Call 10/15/32)		9,563		9,218,777
Qorvo Inc., 4.38%, 10/15/29 (Call 10/15/24)^(a)		10,286		9,102,146
QUALCOMM Inc.
1.30%, 05/20/28 (Call 02/20/28)^(a)		12,739		10,996,619
1.65%, 05/20/32 (Call 02/20/32)^(a)		4,265		3,424,602
2.15%, 05/20/30 (Call 02/20/30)^(a)		15,017		13,134,934
3.25%, 05/20/27 (Call 02/20/27)^(a)		20,663		20,159,701
3.25%, 05/20/50 (Call 11/20/49)^(a)		7,019		5,661,939
4.30%, 05/20/47 (Call 11/20/46)^(a)		17,239		16,266,913
4.50%, 05/20/52 (Call 11/20/51)		12,559		12,123,023
4.65%, 05/20/35 (Call 11/20/34)^(a)		9,486		9,583,681
4.80%, 05/20/45 (Call 11/20/44)^(a)		14,963		15,008,411
Texas Instruments Inc.
1.75%, 05/04/30 (Call 02/04/30)		11,325		9,653,141
2.25%, 09/04/29 (Call 06/04/29)		10,232		9,138,223
3.88%, 03/15/39 (Call 09/15/38)		6,941		6,478,692
4.15%, 05/15/48 (Call 11/15/47)^(a)		16,275		15,541,587
Xilinx Inc., 2.38%, 06/01/30 (Call 03/01/30)		3,666		3,201,690


				1,119,869,943

Software — 3.6%
Activision Blizzard Inc.
2.50%, 09/15/50 (Call 03/15/50)		15,267		10,154,734
3.40%, 09/15/26 (Call 06/15/26)^(a)		16,271		15,901,017
Adobe Inc.
2.15%, 02/01/27 (Call 12/01/26)		8,850		8,284,574
2.30%, 02/01/30 (Call 11/01/29)^(a)		15,621		13,848,185
Autodesk Inc., 2.40%, 12/15/31 (Call 09/15/31)^(a)		12,231		10,113,219
Broadridge Financial Solutions Inc.
2.60%, 05/01/31 (Call 02/01/31)^(a)		13,337		11,176,051
2.90%, 12/01/29 (Call 09/01/29)		4,805		4,222,635
Citrix Systems Inc.
1.25%, 03/01/26 (Call 02/01/26)^(a)		9,852		9,645,016
3.30%, 03/01/30 (Call 12/01/29)		10,695		10,561,405
4.50%, 12/01/27 (Call 09/01/27)		11,097		11,110,597
Fidelity National Information Services Inc.
1.15%, 03/01/26 (Call 02/01/26)^(a)		12,669		11,287,666
1.65%, 03/01/28 (Call 01/01/28)^(a)		11,720		10,023,087
2.25%, 03/01/31 (Call 12/01/30)^(a)		13,501		10,964,801
3.10%, 03/01/41 (Call 09/01/40)		8,332		6,028,866
5.10%, 07/15/32 (Call 04/15/32)^(a)		7,224		7,206,167


Security	Par (000)		Value

Software (continued)
Fiserv Inc.
2.25%, 06/01/27 (Call 04/01/27)^(a)	$	9,180	$	8,257,836
2.65%, 06/01/30 (Call 03/01/30)^(a)		13,977		11,912,256
3.20%, 07/01/26 (Call 05/01/26)^(a)		22,244		21,182,857
3.50%, 07/01/29 (Call 04/01/29)		29,366		26,841,355
4.20%, 10/01/28 (Call 07/01/28)^(a)		7,894		7,660,841
4.40%, 07/01/49 (Call 01/01/49)^(a)		20,374		17,626,894
Microsoft Corp.
2.40%, 08/08/26 (Call 05/08/26)		40,830		39,029,626
2.53%, 06/01/50 (Call 12/01/49)		74,424		53,993,831
2.68%, 06/01/60 (Call 12/01/59)		39,894		28,208,976
2.92%, 03/17/52 (Call 09/17/51)		67,775		52,980,443
3.04%, 03/17/62 (Call 09/17/61)		20,363		15,531,833
3.13%, 11/03/25 (Call 08/03/25)^(a)		24,104		23,694,225
3.30%, 02/06/27 (Call 11/06/26)^(a)		44,254		43,478,661
3.45%, 08/08/36 (Call 02/08/36)^(a)		15,794		14,837,466
3.50%, 02/12/35 (Call 08/12/34)^(a)		17,679		16,797,569
3.70%, 08/08/46 (Call 02/08/46)^(a)		17,997		16,487,638
4.10%, 02/06/37 (Call 08/06/36)^(a)		10,992		11,030,696
4.25%, 02/06/47 (Call 08/06/46)^(a)		12,473		12,359,736
4.45%, 11/03/45 (Call 05/03/45)^(a)		7,536		7,670,660
4.50%, 02/06/57 (Call 08/06/56)^(a)		6,704		6,868,886
Oracle Corp.
1.65%, 03/25/26 (Call 02/25/26)		25,066		22,502,804
2.30%, 03/25/28 (Call 01/25/28)^(a)		20,521		17,855,560
2.65%, 07/15/26 (Call 04/15/26)^(a)		28,226		26,045,101
2.80%, 04/01/27 (Call 02/01/27)^(a)		21,170		19,346,293
2.88%, 03/25/31 (Call 12/25/30)^(a)		32,789		27,161,834
2.95%, 04/01/30 (Call 01/01/30)^(a)		32,750		27,991,271
3.25%, 11/15/27 (Call 08/15/27)^(a)		25,739		23,775,310
3.60%, 04/01/40 (Call 10/01/39)		35,062		25,488,559
3.60%, 04/01/50 (Call 10/01/49)		49,809		33,774,910
3.65%, 03/25/41 (Call 09/25/40)		26,690		19,575,217
3.80%, 11/15/37 (Call 05/15/37)		22,815		17,740,148
3.85%, 07/15/36 (Call 01/15/36)^(a)		12,363		9,869,211
3.85%, 04/01/60 (Call 10/01/59)		34,808		23,079,089
3.90%, 05/15/35 (Call 11/15/34)^(a)		11,417		9,337,456
3.95%, 03/25/51 (Call 09/25/50)		32,083		22,969,760
4.00%, 07/15/46 (Call 01/15/46)		34,421		25,185,171
4.00%, 11/15/47 (Call 05/15/47)^(a)		25,782		18,668,450
4.10%, 03/25/61 (Call 09/25/60)		16,389		11,401,088
4.13%, 05/15/45 (Call 11/15/44)^(a)		24,976		18,670,284
4.30%, 07/08/34 (Call 01/08/34)		18,486		16,095,871
4.38%, 05/15/55 (Call 11/15/54)^(a)		12,823		9,568,496
4.50%, 07/08/44 (Call 01/08/44)^(a)		9,352		7,424,471
5.38%, 07/15/40		20,555		18,401,305
6.13%, 07/08/39		14,053		13,819,379
6.50%, 04/15/38		13,141		13,331,999
Roper Technologies Inc.
1.75%, 02/15/31 (Call 11/15/30)		8,923		6,993,618
4.20%, 09/15/28 (Call 06/15/28)^(a)		10,788		10,529,296
salesforce.com Inc.
1.50%, 07/15/28 (Call 05/15/28)^(a)		10,827		9,490,652
1.95%, 07/15/31 (Call 04/15/31)^(a)		17,892		15,057,880
2.70%, 07/15/41 (Call 01/15/41)^(a)		12,066		9,187,505
2.90%, 07/15/51 (Call 01/15/51)^(a)		23,810		17,578,316
3.05%, 07/15/61 (Call 01/15/61)^(a)		14,244		10,283,671
3.70%, 04/11/28 (Call 01/11/28)^(a)		18,047		17,886,232
VMware Inc.
1.40%, 08/15/26 (Call 07/15/26)^(a)		15,814		13,943,024


Security	Par (000)		Value

Software (continued)
1.80%, 08/15/28 (Call 06/15/28)^(a)	$	12,451	$	10,358,094
2.20%, 08/15/31 (Call 05/15/31)^(a)		14,914		11,628,837
3.90%, 08/21/27 (Call 05/21/27)		13,713		13,089,408
4.70%, 05/15/30 (Call 02/15/30)		11,118		10,549,344
Workday Inc.
3.50%, 04/01/27 (Call 03/01/27)^(a)		10,495		10,009,242
3.70%, 04/01/29 (Call 02/01/29)		8,130		7,631,707
3.80%, 04/01/32 (Call 01/01/32)^(a)		11,468		10,497,641


				1,250,773,809

Telecommunications — 6.9%
AT&T Inc.
1.65%, 02/01/28 (Call 12/01/27)		23,535		20,248,460
1.70%, 03/25/26 (Call 03/25/23)^(a)		32,817		29,973,827
2.25%, 02/01/32 (Call 11/01/31)		25,377		20,479,706
2.30%, 06/01/27 (Call 04/01/27)^(a)		25,618		23,289,729
2.55%, 12/01/33 (Call 09/01/33)		40,290		32,136,448
2.75%, 06/01/31 (Call 03/01/31)^(a)		27,224		23,330,747
3.30%, 02/01/52 (Call 08/01/51)		9,466		6,827,051
3.50%, 06/01/41 (Call 12/01/40)^(a)		26,783		21,081,371
3.50%, 09/15/53 (Call 03/15/53)^(a)		78,735		57,984,658
3.55%, 09/15/55 (Call 03/15/55)		78,514		57,381,242
3.65%, 06/01/51 (Call 12/01/50)^(a)		33,428		25,614,061
3.65%, 09/15/59 (Call 03/15/59)		68,507		49,550,586
3.80%, 02/15/27 (Call 11/15/26)		9,509		9,329,859
3.80%, 12/01/57 (Call 06/01/57)		63,172		47,512,824
3.85%, 06/01/60 (Call 12/01/59)^(a)		14,854		11,257,974
4.10%, 02/15/28 (Call 11/15/27)		20,915		20,386,541
4.25%, 03/01/27 (Call 12/01/26)^(a)		17,348		17,202,256
4.30%, 02/15/30 (Call 11/15/29)		33,991		32,644,324
4.30%, 12/15/42 (Call 06/15/42)^(a)		15,360		13,308,555
4.35%, 03/01/29 (Call 12/01/28)^(a)		32,841		32,010,963
4.35%, 06/15/45 (Call 12/15/44)^(a)		13,965		12,033,400
4.50%, 05/15/35 (Call 11/15/34)^(a)		28,617		26,810,223
4.50%, 03/09/48 (Call 09/09/47)		18,060		15,796,333
4.55%, 03/09/49 (Call 09/09/48)^(a)		11,468		10,149,506
4.75%, 05/15/46 (Call 11/15/45)^(a)		18,987		17,499,433
4.85%, 03/01/39 (Call 09/01/38)		13,164		12,380,347
5.25%, 03/01/37 (Call 09/01/36)^(a)		10,768		10,743,949
5.65%, 02/15/47 (Call 08/15/46)		8,401		8,683,658
Bell Telephone Co. of Canada or Bell Canada (The)
3.65%, 08/15/52 (Call 02/15/52)		9,712		7,662,253
4.46%, 04/01/48 (Call 10/01/47)^(a)		11,271		10,195,466
British Telecommunications PLC, 9.63%, 12/15/30		33,669		41,420,924
Cisco Systems Inc.
2.50%, 09/20/26 (Call 06/20/26)^(a)		13,759		13,211,942
2.95%, 02/28/26^(a)		8,256		8,082,484
5.50%, 01/15/40		22,512		24,388,731
5.90%, 02/15/39		21,451		24,243,661
Corning Inc.
4.38%, 11/15/57 (Call 05/15/57)		7,967		6,615,588
5.45%, 11/15/79 (Call 05/19/79)^(a)		10,567		9,718,168
Deutsche Telekom International Finance BV, 8.75%, 06/15/30		41,408		50,927,062
Motorola Solutions Inc.
2.30%, 11/15/30 (Call 08/15/30)^(a)		10,150		8,054,783
2.75%, 05/24/31 (Call 02/24/31)		9,506		7,742,655
4.60%, 05/23/29 (Call 02/23/29)^(a)		7,359		7,096,310
Orange SA
5.38%, 01/13/42^(a)		12,121		12,508,596
5.50%, 02/06/44 (Call 08/06/43)^(a)		7,470		7,821,164


Security	Par (000)		Value

Telecommunications (continued)
9.00%, 03/01/31^(a)	$	28,762	$	36,721,067
Rogers Communications Inc.
3.20%, 03/15/27 (Call 02/15/27)^(a)(c)		13,430		12,782,748
3.70%, 11/15/49 (Call 05/15/49)^(a)		10,241		7,811,978
3.80%, 03/15/32 (Call 12/15/31)^(a)(c)		22,137		20,196,502
4.30%, 02/15/48 (Call 08/15/47)		9,011		7,481,535
4.35%, 05/01/49 (Call 11/01/48)^(a)		13,219		11,065,733
4.50%, 03/15/42 (Call 09/15/41)^(a)(c)		10,259		9,042,390
4.55%, 03/15/52 (Call 09/15/51)^(a)(c)		25,356		22,313,389
5.00%, 03/15/44 (Call 09/15/43)		12,282		11,185,856
Telefonica Emisiones SA
4.10%, 03/08/27^(a)		16,116		15,632,826
4.67%, 03/06/38^(a)		7,837		6,801,030
4.90%, 03/06/48^(a)		14,983		12,409,963
5.21%, 03/08/47^(a)		26,340		22,760,481
5.52%, 03/01/49 (Call 09/01/48)^(a)		14,894		13,366,148
7.05%, 06/20/36^(a)		20,225		22,136,647
Telefonica Europe BV, 8.25%, 09/15/30^(a)		14,583		16,953,548
TELUS Corp.
3.40%, 05/13/32 (Call 02/13/32)		13,427		11,918,169
4.60%, 11/16/48 (Call 05/16/48)		8,278		7,696,083
T-Mobile USA Inc.
1.50%, 02/15/26 (Call 01/15/26)		13,415		12,086,975
2.05%, 02/15/28 (Call 12/15/27)		19,564		17,000,834
2.25%, 02/15/26 (Call 02/15/23)		8,439		7,757,213
2.25%, 11/15/31 (Call 08/15/31)		10,960		8,797,658
2.55%, 02/15/31 (Call 11/15/30)		26,580		22,103,931
2.63%, 04/15/26 (Call 04/15/23)		15,152		14,041,586
2.63%, 02/15/29 (Call 02/15/24)		17,196		14,749,869
2.70%, 03/15/32 (Call 12/15/31)		11,264		9,384,007
2.88%, 02/15/31 (Call 02/15/26)		15,674		13,247,665
3.00%, 02/15/41 (Call 08/15/40)^(a)		28,536		20,796,808
3.30%, 02/15/51 (Call 08/15/50)		33,286		23,764,277
3.38%, 04/15/29 (Call 04/15/24)^(a)		22,965		20,571,128
3.40%, 10/15/52 (Call 04/15/52)		28,770		20,744,971
3.50%, 04/15/31 (Call 04/15/26)		26,749		23,646,169
3.60%, 11/15/60 (Call 05/15/60)		17,247		12,364,402
3.75%, 04/15/27 (Call 02/15/27)		43,423		41,627,585
3.88%, 04/15/30 (Call 01/15/30)		72,158		66,617,362
4.38%, 04/15/40 (Call 10/15/39)^(a)		22,130		19,528,906
4.50%, 04/15/50 (Call 10/15/49)^(a)		30,422		26,455,759
4.75%, 02/01/28 (Call 02/01/23)^(a)		19,916		19,408,142
Verizon Communications Inc.
0.85%, 11/20/25 (Call 10/20/25)		12,350		11,130,604
1.45%, 03/20/26 (Call 02/20/26)^(a)		17,536		15,994,917
1.50%, 09/18/30 (Call 06/18/30)^(a)		10,281		8,192,963
1.68%, 10/30/30 (Call 07/30/30)^(a)		14,677		11,668,101
1.75%, 01/20/31 (Call 10/20/30)^(a)		22,291		17,702,449
2.10%, 03/22/28 (Call 01/22/28)^(a)		28,898		25,547,234
2.36%, 03/15/32 (Call 12/15/31)		48,391		39,690,956
2.55%, 03/21/31 (Call 12/21/30)^(a)		45,999		38,862,062
2.63%, 08/15/26		17,029		16,048,087
2.65%, 11/20/40 (Call 05/20/40)		32,918		23,685,749
2.85%, 09/03/41 (Call 03/03/41)		13,014		9,632,608
2.88%, 11/20/50 (Call 05/20/50)		32,313		22,213,937
2.99%, 10/30/56 (Call 04/30/56)		39,446		26,499,365
3.00%, 03/22/27 (Call 01/22/27)^(a)		8,971		8,490,287
3.00%, 11/20/60 (Call 05/20/60)		21,610		14,327,534
3.15%, 03/22/30 (Call 12/22/29)^(a)		13,804		12,356,693
3.40%, 03/22/41 (Call 09/22/40)		38,612		31,068,995


Security	Par (000)		Value

Telecommunications (continued)
3.55%, 03/22/51 (Call 09/22/50)^(a)	$	48,219	$	37,736,614
3.70%, 03/22/61 (Call 09/22/60)^(a)		37,179		28,573,214
3.88%, 02/08/29 (Call 11/08/28)		10,414		10,027,296
3.88%, 03/01/52 (Call 09/01/51)^(a)		12,339		10,233,468
4.00%, 03/22/50 (Call 09/22/49)^(a)		12,759		10,743,132
4.02%, 12/03/29 (Call 09/03/29)^(a)		41,839		40,147,169
4.13%, 03/16/27^(a)		32,501		32,273,798
4.13%, 08/15/46^(a)		13,046		11,371,876
4.27%, 01/15/36		17,211		15,876,118
4.33%, 09/21/28		43,988		43,397,329
4.40%, 11/01/34 (Call 05/01/34)^(a)		20,957		19,884,027
4.50%, 08/10/33^(a)		23,607		22,730,989
4.52%, 09/15/48^(a)		9,323		8,637,976
4.81%, 03/15/39		13,450		13,067,404
4.86%, 08/21/46		25,703		24,969,089
5.01%, 08/21/54^(a)		9,144		9,130,598
5.25%, 03/16/37^(a)		11,833		11,976,153
6.55%, 09/15/43		5,710		6,785,776
Vodafone Group PLC
4.25%, 09/17/50^(a)		16,831		13,779,235
4.38%, 05/30/28		28,500		28,148,239
4.38%, 02/19/43		16,896		14,503,395
4.88%, 06/19/49		19,471		17,311,298
5.00%, 05/30/38^(a)		10,118		9,600,099
5.25%, 05/30/48		29,421		27,495,984
6.15%, 02/27/37		17,697		18,528,957


				2,408,350,932

Toys, Games & Hobbies — 0.0%
Hasbro Inc., 3.90%, 11/19/29 (Call 08/19/29)		13,497		12,420,668


Transportation — 1.8%
Burlington Northern Santa Fe LLC
3.30%, 09/15/51 (Call 03/15/51)^(a)		9,965		7,995,996
3.55%, 02/15/50 (Call 08/15/49)		7,190		6,021,552
3.90%, 08/01/46 (Call 02/01/46)^(a)		9,418		8,372,115
4.05%, 06/15/48 (Call 12/15/47)		8,989		8,169,943
4.13%, 06/15/47 (Call 12/15/46)		8,186		7,545,604
4.15%, 04/01/45 (Call 10/01/44)		9,171		8,322,724
4.15%, 12/15/48 (Call 06/15/48)^(a)		9,873		9,101,559
4.45%, 03/15/43 (Call 09/15/42)		10,519		10,054,487
4.45%, 01/15/53 (Call 07/15/52)^(a)		12,769		12,281,363
4.55%, 09/01/44 (Call 03/01/44)		6,747		6,459,185
4.90%, 04/01/44 (Call 10/01/43)		10,933		10,965,225
5.75%, 05/01/40 (Call 11/01/39)^(a)		6,284		6,908,660
Canadian National Railway Co., 3.85%, 08/05/32		372		360,153
Canadian Pacific Railway Co.
1.75%, 12/02/26 (Call 11/02/26)^(a)		10,818		9,825,538
2.45%, 12/02/31 (Call 09/02/31)^(a)		17,654		15,080,230
3.00%, 12/02/41 (Call 06/02/41)^(a)		10,771		8,465,344
3.10%, 12/02/51 (Call 06/02/51)		20,943		15,393,773
6.13%, 09/15/2115 (Call 03/15/2115)^(a)		7,444		7,831,838
CSX Corp.
3.25%, 06/01/27 (Call 03/01/27)^(a)		10,700		10,304,965
3.80%, 03/01/28 (Call 12/01/27)^(a)		10,479		10,258,708
3.80%, 11/01/46 (Call 05/01/46)		10,937		9,285,467
4.10%, 11/15/32 (Call 08/15/32)		9,662		9,313,966
4.10%, 03/15/44 (Call 09/15/43)^(a)		5,772		5,093,597
4.25%, 03/15/29 (Call 12/15/28)^(a)		11,424		11,313,587
4.30%, 03/01/48 (Call 09/01/47)^(a)		11,695		10,619,727
4.50%, 11/15/52 (Call 05/15/52)^(a)		8,542		7,951,141


Security	Par/ Shares (000)		Value

Transportation (continued)
FedEx Corp.
2.40%, 05/15/31 (Call 02/15/31)^(a)	$	8,789	$	7,405,847
3.10%, 08/05/29 (Call 05/05/29)^(a)		9,319		8,506,037
3.25%, 04/01/26 (Call 01/01/26)^(a)		2,902		2,827,815
3.25%, 05/15/41 (Call 11/15/40)^(a)		8,362		6,520,217
4.05%, 02/15/48 (Call 08/15/47)^(a)		10,372		8,717,275
4.25%, 05/15/30 (Call 02/15/30)^(a)		8,387		8,165,867
4.40%, 01/15/47 (Call 07/15/46)^(a)		7,614		6,664,632
4.55%, 04/01/46 (Call 10/01/45)^(a)		14,729		13,142,685
4.75%, 11/15/45 (Call 05/15/45)^(a)		13,813		12,738,607
4.95%, 10/17/48 (Call 04/17/48)^(a)		8,848		8,417,303
5.10%, 01/15/44		9,118		8,755,975
5.25%, 05/15/50 (Call 11/15/49)^(a)		13,152		13,017,154
Norfolk Southern Corp.
3.05%, 05/15/50 (Call 11/15/49)		6,614		4,878,207
3.16%, 05/15/55 (Call 11/15/54)		8,996		6,513,494
4.55%, 06/01/53 (Call 12/01/52)^(a)		9,100		8,552,764
Union Pacific Corp.
2.38%, 05/20/31 (Call 02/20/31)^(a)		9,999		8,660,251
2.40%, 02/05/30 (Call 11/05/29)^(a)		9,578		8,445,400
2.80%, 02/14/32 (Call 12/15/31)^(a)		10,176		9,045,367
2.95%, 03/10/52 (Call 09/10/51)		9,248		6,818,655
2.97%, 09/16/62 (Call 03/16/62)		8,897		6,137,642
3.20%, 05/20/41 (Call 11/20/40)^(a)		8,519		7,002,095
3.25%, 02/05/50 (Call 08/05/49)		19,006		15,001,320
3.50%, 02/14/53 (Call 08/14/52)		16,495		13,371,698
3.70%, 03/01/29 (Call 12/01/28)^(a)		9,610		9,366,138
3.75%, 02/05/70 (Call 08/05/69)		8,971		7,171,783
3.80%, 10/01/51 (Call 04/01/51)		9,298		7,983,408
3.80%, 04/06/71 (Call 10/06/70)^(a)		12,259		9,820,843
3.84%, 03/20/60 (Call 09/20/59)^(a)		19,799		16,578,293
3.95%, 09/10/28 (Call 06/10/28)		11,697		11,525,555
United Parcel Service Inc.
3.05%, 11/15/27 (Call 08/15/27)^(a)		10,311		9,996,297
3.40%, 03/15/29 (Call 12/15/28)^(a)		9,480		9,156,168
3.75%, 11/15/47 (Call 05/15/47)^(a)		10,981		9,802,913
4.25%, 03/15/49 (Call 09/15/48)		9,774		9,391,497
4.45%, 04/01/30 (Call 01/01/30)^(a)		9,729		9,960,143
5.30%, 04/01/50 (Call 10/01/49)^(a)		15,705		17,506,277
6.20%, 01/15/38		14,236		16,664,996
Walmart Inc.
1.05%, 09/17/26 (Call 08/17/26)^(a)		18,155		16,458,078
1.50%, 09/22/28 (Call 07/22/28)^(a)		14,998		13,127,295
1.80%, 09/22/31 (Call 06/22/31)^(a)		23,747		19,977,180


				627,089,618

Water — 0.1%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		5,736		4,869,590
4.45%, 06/01/32 (Call 03/01/32)^(a)		8,674		8,610,379
6.59%, 10/15/37		8,239		9,450,790


				22,930,759


Total Long-Term Investments — 98.0% (Cost: $40,181,403,892)				34,065,802,616


Short-Term Securities

Money Market Funds — 8.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.42%^(d)(e)(f)		2,530,864		2,531,622,939


Security	Shares (000)		Value

Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.07%^(d)(e)		284,664	$	284,664,000


Total Short-Term Securities — 8.1% (Cost: $2,815,152,744)				2,816,286,939


Total Investments in Securities — 106.1% (Cost: $42,996,556,636)				36,882,089,555

Liabilities in Excess of Other Assets — (6.1)%				(2,130,888,241	)


Net Assets — 100.0%			$	34,751,201,314

^(a)	All or a portion of this security is on loan.

iShares Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.

These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):

The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:

Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.

Foreign Currency Translation: Each Fund’s books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.

In-kind Redemptions: For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds’ tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.

Distributions: Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.

Indemnifications: In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.

Investment Valuation Policies: Each Fund’s investments are valued at fair value (also referred to as “market value” within the financial statements) each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the “Board”) of each Fund has approved the designation of BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA’s policies. If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA’s policies and procedures as reflecting fair value. BFA has formed a committee (the “Valuation Committee”) to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.

Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of each Fund’s assets and liabilities:

If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA’s policies and procedures as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.

Fair value pricing could result in a difference between the prices used to calculate a fund’s NAV and the prices used by the fund’s underlying index, which in turn could result in a difference between the fund’s performance and the performance of the fund’s underlying index.

Fair Value Hierarchy: 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:

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

Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund’s Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.

Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral.

In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.

As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.

Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the iShares iBoxx $ High Yield Corporate Bond ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

For its investment advisory services to the iShares iBoxx $ Investment Grade Corporate Bond ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:

Distributor: BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.

Securities Lending: The U.S. Securities and Exchange Commission (the “SEC”) has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.

Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.

Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the six months ended August 31, 2022, the Funds paid BTC the following amounts for securities lending agent services:

Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.

Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.

For the six months ended August 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.

A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.

For the six months ended August 31, 2022, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:

Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.

Management has analyzed tax laws and regulations and their application to the Funds as of August 31, 2022, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

As of February 28, 2022, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:

As of August 31, 2022, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:

In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.

BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.

The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.

Market Risk: Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.

An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.

Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that the Manager believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.

Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its Schedule of Investments.

Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as “junk bonds”) or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.

The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates due to the recent period of historically low interest rates. The Federal Reserve has recently begun to raise the federal funds rate as part of its efforts to address inflation. There is a risk that interest rates will continue to rise, which will likely drive down the prices of bonds and other fixed-income securities, and could negatively impact the Funds’ performance.

Significant Shareholder Redemption Risk: Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund’s NAV, increase the fund’s brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.

LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates ceased to be published or no longer are representative of the underlying market they seek to measure after December 31, 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against, instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.

Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.

The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.

From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.

Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were higher than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.

Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.

Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.

The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.

Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.

The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts withsubstantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.

The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.

Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.

Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.

Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue,

including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.

Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.

Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.

The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.

A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.

A description of the Trust’s policies and procedures with respect to the disclosure of the Fund’s portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at iShares.com.

This report is intended for the Funds' shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Markit Indices Limited, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.


				Average Annual Total Returns									Cumulative Total Returns

	6 Months			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		(8.20	)%		(11.13	)%		1.62	%		3.29	%		(11.13	)%		8.35	%		38.18	%
Fund Market		(8.77	)		(11.61	)		1.42			3.16			(11.61	)		7.29			36.50
Index		(7.86	)		(10.62	)		2.06			3.74			(10.62	)		10.75			44.38


Actual					Hypothetical 5% Return


	Beginning Account Value (03/01/22)	Ending Account Value (08/31/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (03/01/22)	Ending Account Value (08/31/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio



	$ 1,000.00	$ 918.00	$ 2.37			$ 1,000.00	$ 1,022.70	$ 2.50		0.49	%


CREDIT QUALITY ALLOCATION


Moody’s Credit Rating^*	Percent of Total Investments^(a)


Baa		2.8%
Ba		45.3
B		40.2
Caa		10.5
Ca		0.2
B1		0.1
Ba1		0.1
Ba2		0.2
Not Rated		0.6


MATURITY ALLOCATION


Maturity	Percent of Total Investments^(a)


1-5 Years		40.6%
5-10 Years		57.0
10-15 Years		1.0
More than 20 Years		1.4


				Average Annual Total Returns									Cumulative Total Returns

	6 Months			1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		(10.81	)%		(16.96	)%		0.93	%		2.35	%		(16.96	)%		4.75	%		26.12	%
Fund Market		(11.22	)		(17.18	)		0.84			2.24			(17.18	)		4.29			24.79
Index		(10.73	)		(16.91	)		1.03			2.51			(16.91	)		5.28			28.07


2		T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T


	Page
The Markets in Review		2
Semi-Annual Report:
Fund Summary		4
About Fund Performance		6
Disclosure of Expenses		6
Schedules of Investments		7
Financial Statements
Statements of Assets and Liabilities		52
Statements of Operations		53
Statements of Changes in Net Assets		54
Financial Highlights		55
Notes to Financial Statements		57
Board Review and Approval of Investment Advisory Contract		64
Supplemental Information		68
General Information		69
Glossary of Terms Used in this Report		70


Fund Summary as of August 31, 2022		iShares^® iBoxx $ High Yield Corporate Bond ETF


4		2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S


Fund Summary as of August 31, 2022		iShares^® iBoxx $ Investment Grade Corporate Bond ETF


MATURITY ALLOCATION


Maturity	Percent of Total Investments^(a)


1-5 Years		20.7%
5-10 Years		35.1
10-15 Years		6.7
15-20 Years		9.7
More than 20 Years		27.8




Affiliated Issuer	Value at 02/28/22		Purchases at Cost			Proceeds from Sale		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 08/31/22		Shares Held at 08/31/22 (000)		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	2,859,974,472	$	192,895,730	^(a)	$	—	$	(687,900	)	$	1,065,130	$	3,053,247,432		3,052,332	$	6,513,258	^(b)	$	—

BlackRock Cash Funds: Treasury, SL Agency Shares		131,460,000		9,140,000	^(a)		—		—			—		140,600,000		140,600		635,722			—

								$	(687,900	)	$	1,065,130	$	3,193,847,432			$	7,148,980		$	—




	Level 1		Level 2		Level 3		Total

Investments
Assets
Corporate Bonds & Notes	$	—	$	12,355,010,674	$	—	$	12,355,010,674
Money Market Funds		3,193,847,432		—		—		3,193,847,432


	$	3,193,847,432	$	12,355,010,674	$	—	$	15,548,858,106




Affiliated Issuer	Value at 02/28/22		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 08/31/22		Shares Held at 08/31/22 (000)		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	2,598,451,695	$	—		$	(67,005,986	)^(a)	$	(525,305	)	$	702,535	$	2,531,622,939		2,530,864	$	2,545,428	^(b)	$	—

BlackRock Cash Funds: Treasury, SL Agency Shares		203,784,000		80,880,000	^(a)		—			—			—		284,664,000		284,664		1,476,614			—

									$	(525,305	)	$	702,535	$	2,816,286,939			$	4,022,042		$	—


	iShares iBoxx $ High Yield Corporate Bond ETF			iShares iBoxx $ Investment Grade Corporate Bond ETF


ASSETS
Investments, at value — unaffiliated^(a)(b)	$	12,355,010,674		$	34,065,802,616
Investments, at value — affiliated^(c)		3,193,847,432			2,816,286,939
Cash		6,482,160			6,818
Foreign currency, at value^(d)		11,821			—
Receivables:
Investments sold		8,845,235			163,367,683
Securities lending income — affiliated		1,342,716			545,420
Capital shares sold		1,780,123			3,313,359
Dividends — affiliated		278,124			492,797
Interest — unaffiliated		202,279,862			385,532,371

Total assets		15,769,878,147			37,435,348,003


LIABILITIES
Collateral on securities loaned, at value		3,052,619,190			2,530,816,282
Payables:
Investments purchased		16,236,754			123,453,046
Capital shares redeemed		6,961,470			25,594,268
Investment advisory fees		6,113,666			4,283,093

Total liabilities		3,081,931,080			2,684,146,689


NET ASSETS	$	12,687,947,067		$	34,751,201,314


NET ASSETS CONSIST OF
Paid-in capital	$	16,593,343,169		$	41,863,799,349
Accumulated loss		(3,905,396,102	)		(7,112,598,035	)


NET ASSETS	$	12,687,947,067		$	34,751,201,314


NET ASSET VALUE
Shares outstanding		169,600,000			317,300,000

Net asset value	$	74.81		$	109.52

Shares authorized		Unlimited			Unlimited

Par value		None			None


^(a) Investments, at cost — unaffiliated	$	14,319,201,668		$	40,181,404,201
^(b) Securities loaned, at value	$	2,910,747,197		$	2,425,692,584
^(c) Investments, at cost — affiliated	$	3,192,576,741		$	2,815,152,435
^(d)Foreign currency, at cost	$	12,193		$	—


	iShares iBoxx $ High Yield Corporate Bond ETF			iShares iBoxx $ Investment Grade Corporate Bond ETF


INVESTMENT INCOME
Dividends — affiliated	$	635,722			$	1,476,614
Interest — unaffiliated		349,260,039				510,783,032
Securities lending income — affiliated — net		6,513,258				2,545,428
Other income — unaffiliated		524,722				14,397


Total investment income		356,933,741				514,819,471


EXPENSES
Investment advisory fees		35,436,531				23,608,657


Total expenses		35,436,531				23,608,657


Net investment income		321,497,210				491,210,814


REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — unaffiliated		(48,839,683	)			(419,056,338	)
Investments — affiliated		(687,900	)			(525,305	)
In-kind redemptions — unaffiliated^(a)		(319,606,334	)			(575,910,538	)
Foreign currency transactions		(62	)			—


		(369,133,979	)			(995,492,181	)


Net change in unrealized appreciation (depreciation) on:
Investments — unaffiliated		(1,093,921,689	)			(3,393,551,252	)
Investments — affiliated		1,065,130				702,535
Foreign currency translations		(372	)			—


		(1,092,856,931	)			(3,392,848,717	)


Net realized and unrealized loss		(1,461,990,910	)			(4,388,340,898	)


NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	(1,140,493,700	)		$	(3,897,130,084	)


	iShares iBoxx $ High Yield Corporate Bond ETF						iShares iBoxx $ Investment Grade Corporate Bond ETF

	Six Months Ended 08/31/22 (unaudited)			Year Ended 02/28/22			Six Months Ended 08/31/22 (unaudited)				Year Ended 02/28/22


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income	$	321,497,210		$	708,867,844			$	491,210,814			$	878,555,782
Net realized gain (loss)		(369,133,979	)		225,744,405				(995,492,181	)			667,781,490
Net change in unrealized appreciation (depreciation)		(1,092,856,931	)		(877,637,459	)			(3,392,848,717	)			(2,920,354,039	)


Net increase (decrease) in net assets resulting from operations		(1,140,493,700	)		56,974,790				(3,897,130,084	)			(1,374,016,767	)


DISTRIBUTIONS TO SHAREHOLDERS^(a)

Decrease in net assets resulting from distributions to shareholders		(348,457,014	)		(814,300,808	)			(472,859,788	)			(915,064,580	)


CAPITAL SHARE TRANSACTIONS

Net increase (decrease) in net assets derived from capital share transactions		(2,492,875,865	)		(5,046,604,584	)			3,298,759,380				(8,095,864,525	)


NET ASSETS

Total decrease in net assets		(3,981,826,579	)		(5,803,930,602	)			(1,071,230,492	)			(10,384,945,872	)
Beginning of period		16,669,773,646			22,473,704,248				35,822,431,806				46,207,377,678


End of period	$	12,687,947,067		$	16,669,773,646			$	34,751,201,314			$	35,822,431,806


	iShares iBoxx $ High Yield Corporate Bond ETF


	Six Months Ended 08/31/22 (unaudited)				Year Ended 02/28/22			Year Ended 02/28/21			Year Ended 02/29/20			Year Ended 02/28/19			Year Ended 02/28/18


Net asset value, beginning of period		$	83.47		$	86.84		$	85.71		$	85.71		$	86.13		$	88.08

Net investment income^(a)			1.75			3.06			3.84			4.19			4.46			4.42
Net realized and unrealized gain (loss)^(b)			(8.52	)		(2.95	)		1.50			0.18			(0.36	)		(1.92	)


Net increase (decrease) from investment operations			(6.77	)		0.11			5.34			4.37			4.10			2.50


Distributions from net investment income^(c)			(1.89	)		(3.48	)		(4.21	)		(4.37	)		(4.52	)		(4.45	)


Net asset value, end of period		$	74.81		$	83.47		$	86.84		$	85.71		$	85.71		$	86.13


Total Return^(d)
Based on net asset value			(8.20	)%^(e)		0.11	%		6.56	%		5.14	%		4.95	%		2.87	%


Ratios to Average Net Assets^(f)
Total expenses			0.49	%^(g)		0.48	%		0.48	%		0.49	%		0.49	%		0.49	%


Net investment income			4.45	%^(g)		3.52	%		4.59	%		4.83	%		5.25	%		5.05	%


Supplemental Data
Net assets, end of period (000)		$	12,687,947		$	16,669,774		$	22,473,704		$	13,456,300		$	15,341,864		$	15,271,455


Portfolio turnover rate^(h)			6	%^(e)		19	%		20	%		20	%		14	%		17	%


	iShares iBoxx $ Investment Grade Corporate Bond ETF


	Six Months Ended 08/31/22 (unaudited)				Year Ended 02/28/22			Year Ended 02/28/21			Year Ended 02/29/20			Year Ended 02/28/19			Year Ended 02/28/18


Net asset value, beginning of period		$	124.51		$	132.40		$	132.27		$	115.89		$	117.11		$	118.42

Net investment income^(a)			1.68			2.92			3.55			4.17			4.15			3.86
Net realized and unrealized gain (loss)^(b)			(15.06	)		(7.79	)		0.18			16.40			(1.20	)		(1.39	)


Net increase (decrease) from investment operations			(13.38	)		(4.87	)		3.73			20.57			2.95			2.47


Distributions from net investment income^(c)			(1.61	)		(3.02	)		(3.60	)		(4.19	)		(4.17	)		(3.78	)

Net asset value, end of period		$	109.52		$	124.51		$	132.40		$	132.27		$	115.89		$	117.11


Total Return^(d)
Based on net asset value			(10.81	)%^(e)		(3.76	)%		2.83	%		18.03	%		2.64	%		2.06	%


Ratios to Average Net Assets^(f)
Total expenses			0.14	%^(g)		0.14	%		0.14	%		0.14	%		0.15	%		0.15	%


Net investment income			2.92	%^(g)		2.21	%		2.66	%		3.35	%		3.62	%		3.22	%


Supplemental Data
Net assets, end of period (000)		$	34,751,201		$	35,822,432		$	46,207,378		$	33,106,758		$	32,519,973		$	32,662,280


Portfolio turnover rate^(h)			10	%^(e)		14	%		14	%		13	%		10	%		10	%



iShares ETF		Diversification Classification

iBoxx $ High Yield Corporate Bond		Diversified
iBoxx $ Investment Grade Corporate Bond		Diversified




iShares ETF and Counterparty		Securities Loaned at Value		Cash Collateral Received	^(a)		Non-Cash Collateral Received, at Fair Value	^(a)		Net Amount

iBoxx $ High Yield Corporate Bond
Barclays Bank PLC	$	164,280,502	$	(164,280,502	)	$	—		$	—
Barclays Capital, Inc.		112,992,845		(112,992,845	)		—			—
BMO Capital Markets Corp.		47,597,661		(47,597,661	)		—			—
BNP Paribas SA		453,235,855		(453,235,855	)		—			—
BofA Securities, Inc.		117,232,310		(117,232,310	)		—			—
Citadel Clearing LLC		30,618,809		(30,618,809	)		—			—
Citigroup Global Markets, Inc.		50,857,440		(50,857,440	)		—			—
Credit Suisse Securities (USA) LLC		35,700,605		(35,700,605	)		—			—
Deutsche Bank Securities, Inc.		87,740,069		(87,740,069	)		—			—
Goldman Sachs & Co. LLC		663,753,945		(663,753,945	)		—			—
HSBC Securities (USA), Inc.		16,668,775		(16,668,775	)		—			—
J.P. Morgan Securities LLC		701,343,398		(701,343,398	)		—			—
Jefferies LLC		29,404,273		(29,404,273	)		—			—
Mitsubishi UFJ Securities Holdings Co., Ltd.		9,871,588		(9,871,588	)		—			—
Morgan Stanley		77,138,312		(77,138,312	)		—			—
Nomura Securities International, Inc.		38,732,763		(38,732,763	)		—			—
Pershing LLC		309,383		(309,383	)		—			—
RBC Capital Markets LLC		151,307,041		(151,307,041	)		—			—
Scotia Capital (USA), Inc.		23,851,390		(23,851,390	)		—			—
State Street Bank & Trust Co.		48,319,823		(48,319,823	)		—			—
Toronto-Dominion Bank		14,877,817		(14,877,817	)		—			—
UBS AG		493,500		(493,500	)		—			—
Wells Fargo Securities LLC		34,419,093		(34,419,093	)		—			—


	$	2,910,747,197	$	(2,910,747,197	)	$	—		$	—

iBoxx $ Investment Grade Corporate Bond
Barclays Bank PLC	$	219,931,759	$	(219,931,759	)	$	—		$	—
Barclays Capital, Inc.		78,855,357		(78,855,357	)		—			—
BMO Capital Markets Corp.		38,548,051		(38,548,051	)		—			—
BNP Paribas SA		501,326,619		(501,326,619	)		—			—
BofA Securities, Inc.		246,814,839		(246,814,839	)		—			—
Citadel Clearing LLC		13,869,255		(13,869,255	)		—			—
Citigroup Global Markets, Inc.		117,869,270		(117,869,270	)		—			—
Credit Suisse Securities (USA) LLC		22,928,639		(22,928,639	)		—			—
Deutsche Bank Securities, Inc.		94,340,626		(94,340,626	)		—			—
Goldman Sachs & Co. LLC		175,087,334		(175,087,334	)		—			—
HSBC Securities (USA), Inc.		77,669,006		(77,669,006	)		—			—
J.P. Morgan Securities LLC		220,730,038		(220,730,038	)		—			—
Jefferies LLC		8,668,919		(8,668,919	)		—			—
Mitsubishi UFJ Securities Holdings Co., Ltd.		39,254,749		(39,254,749	)		—			—
Morgan Stanley		152,916,539		(152,916,539	)		—			—
Nomura Securities International, Inc.		19,459,404		(19,459,404	)		—			—
Pershing LLC		4,839,767		(4,839,767	)		—			—
RBC Capital Markets LLC		291,464,617		(291,464,617	)		—			—
Scotia Capital (USA), Inc.		12,605,416		(12,605,416	)		—			—
State Street Bank & Trust Co.		17,881,636		(17,881,636	)		—			—
Toronto-Dominion Bank		26,581,281		(26,581,281	)		—			—
UBS AG		2,348,180		(2,348,180	)		—			—
Wells Fargo Bank N.A.		2,048,676		(2,048,676	)		—			—
Wells Fargo Securities LLC		39,652,607		(39,652,607	)		—			—


	$	2,425,692,584	$	(2,425,692,584	)	$	—		$	—



Aggregate Average Daily Net Assets	Investment Advisory Fees

First $19 billion		0.5000%
Over $19 billion, up to and including $33 billion		0.4750
Over $33 billion, up to and including $47 billion		0.4513
Over $47 billion		0.4287



Aggregate Average Daily Net Assets	Investment Advisory Fees

First $121 billion		0.1500%
Over $121 billion, up to and including $181 billion		0.1425
Over $181 billion, up to and including $231 billion		0.1354
Over $231 billion, up to and including $281 billion		0.1287
Over $281 billion		0.1222



iShares ETF	Fees Paid to BTC
iBoxx $ High Yield Corporate Bond	$	2,099,149
iBoxx $ Investment Grade Corporate Bond		999,602



iShares ETF	Purchases		Sales		Net Realized Gain (Loss)

iBoxx $ High Yield Corporate Bond	$	9,303,141	$	220,224,177	$	(19,886,413)

iBoxx $ Investment Grade Corporate Bond		353,572,234		160,340,693		(13,272,149)



iShares ETF	In-kind Purchases		In-kind Sales

iBoxx $ High Yield Corporate Bond	$	19,431,644,721	$	21,922,764,714
iBoxx $ Investment Grade Corporate Bond		22,556,084,137		19,186,454,420



iShares ETF	Non-Expiring

iBoxx $ High Yield Corporate Bond	$	1,538,239,704
iBoxx $ Investment Grade Corporate Bond		81,641,410



iShares ETF	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)

iBoxx $ High Yield Corporate Bond	$	17,588,216,405		$ 75,817,343	$	(2,115,175,642	)	$	(2,039,358,299)
iBoxx $ Investment Grade Corporate Bond		43,012,059,384		12,457,653		(6,142,427,482	)		(6,129,969,829)



	Six Months Ended 08/31/22						Year Ended 02/28/22


iShares ETF	Shares			Amount			Shares			Amount


iBoxx $ High Yield Corporate Bond

Shares sold		255,200,000		$	19,816,782,790			368,200,000		$	31,872,052,303
Shares redeemed		(285,300,000	)		(22,309,658,655	)		(427,300,000	)		(36,918,656,887	)


		(30,100,000	)	$	(2,492,875,865	)		(59,100,000	)	$	(5,046,604,584	)


iBoxx $ Investment Grade Corporate Bond

Shares sold		201,300,000		$	23,000,233,080			337,600,000		$	44,475,136,382
Shares redeemed		(171,700,000	)		(19,701,473,700	)		(398,900,000	)		(52,571,000,907	)


		29,600,000		$	3,298,759,380			(61,300,000	)	$	(8,095,864,525	)


B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T		65



	Total Cumulative Distributions for the Fiscal Year-to-Date								% Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date


iShares ETF	Net Investment Income		Net Realized Capital Gains		Return of Capital		Total Per Share		Net Investment Income			Net Realized Capital Gains			Return of Capital			Total Per Share

iBoxx $ Investment Grade Corporate Bond^(a)	$	1.605591	$	—		$0.004980		$1.610571		100	%		—	%		0	%^(b)		100	%


Portfolio Abbreviations - Fixed Income

LIBOR		London Interbank Offered Rate

REIT		Real Estate Investment Trust

SOFR		Secured Overnight Financing Rate