The Markets in Review

Dear Shareholder,

The 12-month reporting period as of February 28, 2022 saw a continuation of the resurgent growth that followed the initial coronavirus (or “COVID-19”) pandemic reopening, albeit at a slower pace. The global economy weathered the emergence of several variant strains and the resulting peaks and troughs in infections amid optimism that increasing vaccinations and economic adaptation could help contain the pandemic’s disruptions. However, rapid changes in consumer spending led to supply constraints and elevated inflation. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the invasion has presented challenges for both investors and policymakers.

Equity prices were mixed, as persistently high inflation drove investors’ expectations for higher interest rates, which particularly weighed on relatively high valuation growth stocks and economically sensitive small-capitalization stocks. Overall, small-capitalization U.S. stocks declined, while large-capitalization U.S. stocks posted a solid advance. International equities from developed markets gained slightly, although emerging market stocks declined, 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 during the reporting period as the economy expanded rapidly and inflation reached its highest annualized reading in decades. In the corporate bond market, the improving economy assuaged credit concerns and led to modest returns for high-yield corporate bonds, outpacing the negative return of investment-grade corporate bonds.

The U.S. Federal Reserve (the “Fed”) maintained accommodative monetary policy during the reporting period by keeping near-zero interest rates. However, the Fed’s tone shifted during the period, as it reduced its bond-buying program and raised the prospect of higher rates in 2022. Continued high inflation and the Fed’s new stance led many analysts to anticipate that the Fed will raise interest rates multiple times throughout the year.

Looking ahead, however, the horrific war in Ukraine has significantly clouded the outlook for the global economy. Sanctions on Russia and general wartime disruption are likely to drive already-high commodity prices even further upwards, and we have already seen spikes in energy and metal markets. While this will exacerbate inflationary pressure, it could also constrain economic growth, making the Fed’s way forward less clear. Its challenge will be combating inflation without stifling a recovery that is now facing additional supply shocks.

In this environment, we favor an overweight to equities, as we believe low interest rates and continued economic growth will support further gains, albeit likely more modest than what we saw in 2021. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and health care, are particularly attractive in the long term. U.S. and other developed market equities have room for further growth, while we believe Chinese equities stand to gain from a more accommodative monetary and fiscal environment. We are underweight long-term credit, but inflation-protected U.S. Treasuries, Asian fixed income, and emerging market local-currency bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.

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.

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of February 28, 2022

	6-Month	12-Month

U.S. large cap equities (S&P 500^® Index)	(2.62)%	16.39%

U.S. small cap equities (Russell 2000^® Index)	(9.46)	(6.01)

International equities (MSCI Europe, Australasia, Far East Index)	(6.78)	2.83

Emerging market equities (MSCI Emerging Markets Index)	(9.81)	(10.69)

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.02	0.04

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(3.94)	(1.67)

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)	(4.07)	(2.64)

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)	(3.09)	(0.66)

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)	(3.07)	0.64

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

Despite rising U.S. Treasury yields and the emergence of geopolitical concerns, high-yield bonds delivered gains in the 12-month period that ended February 28, 2022. The Markit iBoxx USD Liquid Investment Grade and High Yield Indexes, broad measures of U.S. dollar-denominated investment-grade and high-yield corporate bond performance, returned -3.24% and 0.50%, respectively. High yield outpaced the domestic investment-grade market, as gauged by the -2.64% return of the Bloomberg U.S. Aggregate Bond Index.

High-yield bonds performed well for the majority of the reporting period, reflecting the favorable fundamental backdrop that was in place throughout 2021. As COVID-19 vaccines were rolled out and the economy steadily returned to a normal footing, growth and corporate earnings surged. Credit conditions improved in kind, boosting the outlook for below investment-grade companies. Rising oil prices also provided support by bolstering the profits and balance sheets of the many energy issuers represented in the high-yield space. Default rates across the asset class fell as a result, and the ratio of ratings upgrades to downgrades improved. Further, positive economic conditions raised the odds that many issues that had been downgraded into the high-yield market in 2020 would return to investment-grade status.

Supply-and-demand factors were an additional positive, with investors’ thirst for yield fueling steady inflows into the market. Much of the new supply came from issuers that refinanced existing debt to lengthen maturities or reduce their interest expense.

Perhaps most notably, high yield benefited from its lower degree of interest-rate sensitivity versus investment-grade bonds. This attribute was a positive at a time in which stronger growth and rising inflation prompted the U.S. Federal Reserve (“Fed”) to shift toward a tighter monetary policy. The Fed, in addition to reducing its stimulative quantitative easing program, indicated that it would begin raising interest rates in 2022. High-yield bonds, which tend to benefit from an improving growth outlook, held up much better in the face of rising rates than the fixed-income market as a whole.

The picture changed considerably in the final two months of the period following Russia’s invasion of Ukraine. The uncertainty surrounding the event, together with the disruptions it created in the economic outlook, weighed heavily on higher-risk assets across the board. High-yield bond prices fell sharply in response, leading to the largest downturn for the asset class since the coronavirus-driven slump of early 2020. Although the sell-off led to negative price performance for the indexes over the full 12 months, the shortfall was more than offset by contribution from income.

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 no guarantee 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” on page 9 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 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 a 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 08/15/22)^(a)(b)	$	18,009	$	18,015,190
7.50%, 06/01/29 (Call 06/01/24)^(a)(b)		16,130		16,739,606
7.75%, 04/15/28 (Call 04/15/24)^(a)(b)		14,245		14,876,180
Lamar Media Corp.
3.63%, 01/15/31 (Call 01/15/26)^(b)		7,545		7,073,602
3.75%, 02/15/28 (Call 02/15/23)^(b)		10,680		10,279,500
4.00%, 02/15/30 (Call 02/15/25)		9,333		8,975,826
4.88%, 01/15/29 (Call 01/15/24)		4,428		4,452,608
Midas OpCo Holdings LLC, 5.63%, 08/15/29 (Call 08/15/24)^(a)(b)		16,454		16,124,920
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.25%, 01/15/29 (Call 01/15/24)^(a)		7,737		7,372,394
4.63%, 03/15/30 (Call 03/15/25)^(a)(b)		6,604		6,260,629
5.00%, 08/15/27 (Call 08/15/22)^(a)(b)		9,483		9,359,721
6.25%, 06/15/25 (Call 06/15/22)^(a)(b)		6,283		6,542,174
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)^(a)(b)		15,821		16,280,249


				142,352,599

Aerospace & Defense — 2.4%
Bombardier Inc.
6.00%, 02/15/28 (Call 02/15/24)^(a)(b)		10,688		10,222,591
7.13%, 06/15/26 (Call 06/15/23)^(a)		17,882		17,890,226
7.50%, 12/01/24 (Call 12/01/22)^(a)		13,627		14,132,233
7.50%, 03/15/25 (Call 03/15/22)^(a)(b)		21,411		21,624,887
7.88%, 04/15/27 (Call 04/15/22)^(a)(b)		28,547		28,843,366
Howmet Aerospace Inc.
3.00%, 01/15/29 (Call 11/15/28)		11,477		10,915,613
5.13%, 10/01/24 (Call 07/01/24)^(b)		16,556		17,416,581
6.88%, 05/01/25 (Call 04/01/25)		8,404		9,246,648
Rolls-Royce PLC
3.63%, 10/14/25 (Call 07/14/25)^(a)		13,634		13,263,155
5.75%, 10/15/27 (Call 07/15/27)^(a)		15,086		15,609,388
Spirit AeroSystems Inc.
4.60%, 06/15/28 (Call 03/15/28)^(b)		10,442		9,930,812
5.50%, 01/15/25 (Call 10/15/22)^(a)(b)		7,810		8,035,507
7.50%, 04/15/25 (Call 04/15/22)^(a)		16,808		17,448,805
TransDigm Inc.
4.63%, 01/15/29 (Call 01/15/24)^(b)		18,977		17,947,156
4.88%, 05/01/29 (Call 05/01/24)^(b)		11,365		10,796,750
5.50%, 11/15/27 (Call 11/15/22)		38,604		38,314,470
6.25%, 03/15/26 (Call 03/15/22)^(a)		64,397		66,252,439
6.38%, 06/15/26 (Call 06/15/22)^(b)		14,809		15,097,331
7.50%, 03/15/27 (Call 03/15/22)^(b)		6,356		6,597,599
8.00%, 12/15/25 (Call 04/08/22)^(a)(b)		14,650		15,322,435
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/15/22)		7,524		7,777,935
Triumph Group Inc.
6.25%, 09/15/24 (Call 09/15/22)^(a)(b)		6,237		6,200,792
7.75%, 08/15/25 (Call 08/15/22)^(b)		7,382		7,404,493
8.88%, 06/01/24 (Call 02/01/23)^(a)		9,230		9,864,562


				396,155,774

Agriculture — 0.1%
Vector Group Ltd.
5.75%, 02/01/29 (Call 02/01/24)^(a)		13,614		12,620,095
10.50%, 11/01/26 (Call 11/01/22)^(a)		7,209		7,412,230


				20,032,325


Security	Par (000)		Value

Airlines — 1.7%
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)^(a)(b)	$	17,334	$	16,857,315
American Airlines Group Inc., 3.75%, 03/01/25^(a)(b)		7,472		6,947,714
American Airlines Inc., 11.75%, 07/15/25^(a)(b)		36,989		44,902,427
American Airlines Inc./AAdvantage Loyalty IP Ltd.
5.50%, 04/20/26^(a)(b)		50,526		51,667,706
5.75%, 04/20/29^(a)(b)		41,992		42,928,820
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)^(b)		13,527		13,371,304
3.75%, 10/28/29 (Call 07/28/29)^(b)		8,497		8,096,961
3.80%, 04/19/23 (Call 03/19/23)^(b)		6,783		6,853,953
4.38%, 04/19/28 (Call 01/19/28)^(b)		6,602		6,577,992
7.38%, 01/15/26 (Call 12/15/25)^(b)		15,375		17,222,768
Hawaiian Brand Intellectual Property
Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)^(a)		17,294		17,591,619
United Airlines Inc.
4.38%, 04/15/26 (Call 10/15/25)^(a)(b)		28,486		28,395,557
4.63%, 04/15/29 (Call 10/15/28)^(a)		30,042		29,284,942


				290,699,078

Apparel — 0.2%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)(b)		10,636		10,804,662
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		14,355		14,631,753
William Carter Co. (The)
5.50%, 05/15/25 (Call 05/15/22)^(a)		6,485		6,696,641
5.63%, 03/15/27 (Call 03/15/22)^(a)		8,290		8,445,437


				40,578,493

Auto Manufacturers — 3.3%
Allison Transmission Inc.
3.75%, 01/30/31 (Call 01/30/26)^(a)(b)		15,061		13,977,146
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)		5,665		5,680,048
5.88%, 06/01/29 (Call 06/01/24)^(a)		6,573		6,907,735
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 (Call 11/01/24)^(a)		17,092		17,920,765
Ford Motor Co.
3.25%, 02/12/32 (Call 11/12/31)^(b)		29,552		27,822,322
4.35%, 12/08/26 (Call 09/08/26)^(b)		22,098		22,568,245
9.63%, 04/22/30 (Call 01/22/30)^(b)		8,061		11,064,367
Ford Motor Credit Co. LLC
2.30%, 02/10/25 (Call 01/10/25)		14,206		13,596,053
2.70%, 08/10/26 (Call 07/10/26)		21,182		20,265,923
2.90%, 02/16/28 (Call 12/16/27)^(b)		13,933		13,170,029
2.90%, 02/10/29 (Call 12/10/28)		11,835		11,029,123
3.09%, 01/09/23		2,258		2,267,318
3.10%, 05/04/23^(b)		11,168		11,250,755
3.35%, 11/01/22		963		968,093
3.37%, 11/17/23		13,841		13,903,285
3.38%, 11/13/25 (Call 10/13/25)		30,940		30,586,588
3.63%, 06/17/31 (Call 03/17/31)^(b)		14,975		14,432,343
3.66%, 09/08/24		11,204		11,247,416
3.81%, 01/09/24 (Call 11/09/23)		10,518		10,617,763
3.82%, 11/02/27 (Call 08/02/27)		13,883		13,769,333
4.00%, 11/13/30 (Call 08/13/30)^(b)		25,294		25,019,107
4.06%, 11/01/24 (Call 10/01/24)		22,721		23,056,089
4.13%, 08/04/25		20,135		20,335,426
4.13%, 08/17/27 (Call 06/17/27)^(b)		19,096		19,229,027
4.14%, 02/15/23 (Call 01/15/23)^(b)		7,432		7,508,643
4.27%, 01/09/27 (Call 11/09/26)		14,025		14,227,110
4.38%, 08/06/23		13,401		13,652,980


Security	Par (000)		Value

Auto Manufacturers (continued)
4.39%, 01/08/26^(b)	$	17,713	$	18,047,046
4.54%, 08/01/26 (Call 06/01/26)		13,165		13,538,557
4.69%, 06/09/25 (Call 04/09/25)		7,720		7,957,004
5.11%, 05/03/29 (Call 02/03/29)^(b)		22,257		23,592,420
5.13%, 06/16/25 (Call 05/16/25)^(b)		24,965		26,113,390
5.58%, 03/18/24 (Call 02/18/24)^(b)		20,683		21,559,438
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)		7,560		6,980,428
5.50%, 07/15/29 (Call 07/15/24)^(a)(b)		7,826		7,498,169
5.63%, 02/01/23 (Call 04/08/22)^(a)(b)		4,868		4,874,370
5.88%, 01/15/28 (Call 01/15/24)^(a)		8,392		8,266,120
7.75%, 10/15/25 (Call 10/15/22)^(a)		8,688		9,149,072


				543,649,046

Auto Parts & Equipment — 1.3%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 08/15/22)^(a)(b)		11,058		11,046,952
American Axle & Manufacturing Inc.
5.00%, 10/01/29 (Call 10/01/24)^(b)		8,482		8,043,565
6.25%, 03/15/26 (Call 03/15/22)^(b)		5,464		5,539,130
6.50%, 04/01/27 (Call 04/01/22)^(b)		7,466		7,644,484
6.88%, 07/01/28 (Call 07/01/23)^(b)		5,331		5,511,088
Clarios Global LP, 6.75%, 05/15/25 (Call 05/15/22)^(a)(b)		6,096		6,335,631
Clarios Global LP/Clarios US Finance Co.
6.25%, 05/15/26 (Call 05/15/22)^(a)(b)		11,899		12,308,802
8.50%, 05/15/27 (Call 05/15/22)^(a)(b)		29,536		30,832,831
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/22)^(a)		5,133		5,204,605
Dana Inc.
4.25%, 09/01/30 (Call 05/01/26)^(b)		6,533		6,201,876
5.38%, 11/15/27 (Call 11/15/22)^(b)		5,729		5,843,580
5.63%, 06/15/28 (Call 06/15/23)^(b)		4,340		4,452,113
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(b)		10,507		10,509,566
5.00%, 05/31/26 (Call 05/31/22)^(b)		15,712		15,801,734
5.00%, 07/15/29 (Call 04/15/29)^(a)(b)		12,002		11,833,972
5.25%, 04/30/31 (Call 01/30/31)		8,003		7,775,090
5.25%, 07/15/31 (Call 04/15/31)^(a)(b)		8,420		8,184,300
5.63%, 04/30/33 (Call 01/30/33)		6,407		6,196,283
9.50%, 05/31/25 (Call 05/31/22)		9,956		10,598,162
Tenneco Inc.
5.00%, 07/15/26 (Call 07/15/22)^(b)		6,323		6,318,574
5.13%, 04/15/29 (Call 04/15/24)^(a)(b)		11,060		11,095,747
7.88%, 01/15/29 (Call 01/15/24)^(a)		7,435		7,868,133
ZF North America Capital Inc., 4.75%, 04/29/25^(a)(b)		15,700		16,050,335


				221,196,553

Banks — 1.6%
Commerzbank AG, 8.13%, 09/19/23^(a)		15,657		16,857,275
Deutsche Bank AG 4.30%, 05/24/28 (Call 05/24/23), (5 year USD Swap + 2.248%)^(b)(c)		25,217		25,402,247
4.50%, 04/01/25^(b)		18,079		18,558,997
Deutsche Bank AG/New York NY
3.73%, 01/14/32 (Call 10/14/30)^(c)		17,975		17,002,015
3.74%, 01/07/33 (Call 10/07/31)^(c)		18,981		17,733,106
4.88%, 12/01/32 (Call 12/01/27)^(b)(c)		15,922		16,076,115
5.88%, 07/08/31 (Call 04/08/30)^(b)(c)		7,396		8,052,658
Fifth Third Bancorp., Series H, 5.10%, (Call 06/30/23)^(b)(c)(d)		9,121		9,013,267


Security	Par (000)		Value

Banks (continued)
Freedom Mortgage Corp.
6.63%, 01/15/27 (Call 01/15/24)^(a)(b)	$	9,076	$	8,411,750
7.63%, 05/01/26 (Call 05/01/23)^(a)(b)		9,478		9,098,880
8.13%, 11/15/24 (Call 11/15/22)^(a)		6,865		6,847,838
8.25%, 04/15/25 (Call 04/15/22)^(a)(b)		6,735		6,718,163
Intesa Sanpaolo SpA
4.20%, 06/01/32 (Call 06/01/31)^(a)(b)(c)		12,250		11,023,875
5.02%, 06/26/24^(a)		31,383		32,265,405
5.71%, 01/15/26^(a)(b)		4,121		4,348,244
UniCredit SpA
5.46%, 06/30/35 (Call 06/30/30)^(a)(b)(c)		22,403		22,228,944
5.86%, 06/19/32 (Call 06/19/27)^(a)(b)(c)		14,946		15,228,158
7.30%, 04/02/34 (Call 04/02/29)^(a)(b)(c)		18,318		20,097,356


				264,964,293

Building Materials — 0.9%
Builders FirstSource Inc.
4.25%, 02/01/32 (Call 08/01/26)^(a)(b)		19,653		18,817,748
5.00%, 03/01/30 (Call 03/01/25)^(a)(b)		8,090		8,260,456
6.75%, 06/01/27 (Call 06/01/22)^(a)		6,579		6,849,650
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)^(b)		14,947		14,756,127
Jeld-Wen Inc.
4.63%, 12/15/25 (Call 12/15/22)^(a)(b)		5,545		5,442,418
4.88%, 12/15/27 (Call 12/15/22)^(a)(b)		6,250		6,078,125
SRM Escrow Issuer LLC, 6.00%, 11/01/28 (Call 11/01/23)^(a)		16,659		16,671,994
Standard Industries Inc./NJ
3.38%, 01/15/31 (Call 07/15/25)^(a)(b)		16,019		14,233,682
4.38%, 07/15/30 (Call 07/15/25)^(a)(b)		23,713		22,462,139
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		14,450		14,238,751
5.00%, 02/15/27 (Call 02/15/23)^(a)		11,178		11,247,863
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (Call 07/15/23)^(a)(b)		10,134		10,234,917


				149,293,870

Chemicals — 1.6%
Axalta Coating Systems LLC, 3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		10,438		9,539,264
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)^(a)(b)		7,374		7,390,111
Chemours Co. (The)
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		9,518		8,816,047
5.38%, 05/15/27 (Call 02/15/27)^(b)		7,361		7,370,497
5.75%, 11/15/28 (Call 11/15/23)^(a)(b)		12,202		12,016,566
Methanex Corp.
5.13%, 10/15/27 (Call 04/15/27)		10,415		10,593,574
5.25%, 12/15/29 (Call 09/15/29)^(b)		9,552		9,752,592
NOVA Chemicals Corp.
4.25%, 05/15/29 (Call 05/15/24)^(a)(b)		7,825		7,345,801
4.88%, 06/01/24 (Call 03/03/24)^(a)		15,145		15,391,712
5.00%, 05/01/25 (Call 01/31/25)^(a)		7,545		7,646,857
5.25%, 06/01/27 (Call 03/03/27)^(a)		16,373		16,497,599
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(b)		7,187		7,278,994
5.13%, 09/15/27 (Call 03/15/22)^(b)		8,027		8,166,469
5.63%, 08/01/29 (Call 08/01/24)^(b)		10,598		11,054,316
Olympus Water U.S. Holding Corp.
4.25%, 10/01/28 (Call 10/01/24)^(a)(b)		11,234		10,493,804
6.25%, 10/01/29 (Call 10/01/24)^(a)(b)		6,133		5,633,110


Security	Par (000)		Value

Chemicals (continued)
SCIH Salt Holdings Inc.
4.88%, 05/01/28 (Call 05/01/24)^(a)	$	16,455	$	15,720,079
6.63%, 05/01/29 (Call 05/01/24)^(a)(b)		10,185		9,621,385
Tronox Inc.
4.63%, 03/15/29 (Call 03/15/24)^(a)(b)		15,387		14,477,321
6.50%, 05/01/25 (Call 04/04/22)^(a)		7,532		7,824,214
Unifrax Escrow Issuer Corp.
5.25%, 09/30/28 (Call 09/30/24)^(a)(b)		11,550		11,131,473
7.50%, 09/30/29 (Call 09/30/24)^(a)(b)		6,104		5,583,180
Valvoline Inc.
3.63%, 06/15/31 (Call 06/15/26)^(a)		7,262		6,551,776
4.25%, 02/15/30 (Call 02/15/25)^(a)		9,638		9,121,373
WR Grace Holdings LLC
4.88%, 06/15/27 (Call 06/15/23)^(a)(b)		10,845		10,825,316
5.63%, 08/15/29 (Call 08/15/24)^(a)		16,932		16,314,781


				262,158,211

Commercial Services — 3.9%
ADT Security Corp. (The)
4.13%, 06/15/23		9,204		9,369,984
4.13%, 08/01/29 (Call 08/01/28)^(a)(b)		14,982		14,110,235
Albion Financing 1 Sarl/Aggreko Holdings Inc., 6.13%, 10/15/26 (Call 10/15/23)^(a)		7,881		7,706,937
Albion Financing 2SARL, 8.75%, 04/15/27 (Call 10/15/23)^(a)(b)		6,528		6,330,256
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.00%, 06/01/29 (Call 06/01/24)^(a)(b)		14,214		13,263,258
6.63%, 07/15/26 (Call 07/15/22)^(a)(b)		29,188		29,863,215
9.75%, 07/15/27 (Call 07/15/22)^(a)		15,379		16,071,055
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl
4.63%, 06/01/28 (Call 06/01/24)^(a)(b)		17,149		16,235,999
4.63%, 06/01/28 (Call 06/01/24)^(a)		10,885		10,208,325
APX Group Inc.
5.75%, 07/15/29 (Call 07/15/24)^(a)(b)		11,966		10,788,845
6.75%, 02/15/27 (Call 02/15/23)^(a)(b)		8,943		9,171,337
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
4.75%, 04/01/28 (Call 04/01/24)^(a)(b)		6,149		5,864,427
5.38%, 03/01/29 (Call 03/01/24)^(a)(b)		9,080		8,922,015
5.75%, 07/15/27 (Call 07/15/22)^(a)(b)		5,773		5,816,298
Block Inc.
2.75%, 06/01/26 (Call 05/01/26)^(a)(b)		14,518		14,082,460
3.50%, 06/01/31 (Call 03/01/31)^(a)(b)		14,919		14,050,901
Brink’s Co. (The)
4.63%, 10/15/27 (Call 10/15/22)^(a)(b)		9,525		9,296,400
5.50%, 07/15/25 (Call 07/15/22)^(a)		5,480		5,606,631
Garda World Security Corp.
4.63%, 02/15/27 (Call 02/15/23)^(a)(b)		8,993		8,711,969
6.00%, 06/01/29 (Call 06/01/24)^(a)		7,613		6,948,062
9.50%, 11/01/27 (Call 11/01/22)^(a)(b)		8,306		8,600,396
Gartner Inc.
3.63%, 06/15/29 (Call 06/15/24)^(a)(b)		7,503		7,290,727
3.75%, 10/01/30 (Call 10/01/25)^(a)(b)		13,452		13,018,846
4.50%, 07/01/28 (Call 07/01/23)^(a)(b)		11,333		11,480,669
Grand Canyon University
4.13%, 10/01/24^(b)		4,800		4,836,594
5.13%, 10/01/28 (Call 08/01/28)^(b)		6,635		6,659,881
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)(b)		17,707		18,190,121


Security	Par (000)		Value

Commercial Services (continued)
Hertz Corp. (The)
4.63%, 12/01/26 (Call 12/01/23)^(a)	$	7,140	$	6,850,977
5.00%, 12/01/29 (Call 12/01/24)^(a)(b)		15,657		14,604,850
MPH Acquisition Holdings LLC
5.50%, 09/01/28 (Call 09/01/24)^(a)(b)		15,207		14,751,550
5.75%, 11/01/28 (Call 11/01/23)^(a)(b)		19,052		17,230,152
Nielsen Co Luxembourg SARL (The), 5.00%, 02/01/25 (Call 02/01/23)^(a)(b)		7,434		7,499,048
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 07/15/29 (Call 07/15/24)^(a)(b)		9,869		8,891,969
4.75%, 07/15/31 (Call 07/15/26)^(a)		8,447		7,520,364
5.63%, 10/01/28 (Call 10/01/23)^(a)(b)		15,124		14,515,944
5.88%, 10/01/30 (Call 10/01/25)^(a)(b)		11,735		11,371,802
Prime Security Services Borrower LLC/Prime Finance Inc.
3.38%, 08/31/27 (Call 08/31/26)^(a)(b)		15,332		14,276,807
5.25%, 04/15/24^(a)(b)		9,780		10,006,413
5.75%, 04/15/26^(a)(b)		19,041		19,469,422
6.25%, 01/15/28 (Call 01/15/23)^(a)(b)		19,817		19,123,405
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 01/15/23)^(a)		4,001		4,064,099
Sabre GLBL Inc.
7.38%, 09/01/25 (Call 09/01/22)^(a)(b)		12,445		12,873,264
9.25%, 04/15/25 (Call 03/16/25)^(a)		12,511		14,095,831
Service Corp. International/U.S.
3.38%, 08/15/30 (Call 08/15/25)^(b)		11,387		10,466,219
4.00%, 05/15/31 (Call 05/15/26)		10,400		9,897,496
4.63%, 12/15/27 (Call 12/15/22)^(b)		7,785		7,896,017
5.13%, 06/01/29 (Call 06/01/24)^(b)		12,551		12,870,448
Sotheby’s, 7.38%, 10/15/27 (Call 10/15/22)^(a)(b)		11,146		11,577,907
United Rentals North America Inc.
3.75%, 01/15/32 (Call 07/15/26)^(b)		10,770		10,238,689
3.88%, 02/15/31 (Call 08/15/25)^(b)		16,337		15,790,844
4.00%, 07/15/30 (Call 07/15/25)^(b)		11,552		11,355,183
4.88%, 01/15/28 (Call 01/15/23)^(b)		24,246		24,744,498
5.25%, 01/15/30 (Call 01/15/25)^(b)		11,846		12,326,585
5.50%, 05/15/27 (Call 05/15/22)^(b)		15,290		15,798,698
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/22)^(a)		17,467		18,254,945


				650,859,269

Computers — 1.1%
Booz Allen Hamilton Inc.
3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		10,139		9,910,568
4.00%, 07/01/29 (Call 07/01/24)^(a)		7,890		7,771,650
Condor Merger Sub Inc., 7.38%, 02/15/30 (Call 02/15/25)^(a)		30,670		29,633,854
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 04/15/22)^(b)		7,153		7,058,647
9.38%, 07/15/25 (Call 07/15/22)^(a)(b)		9,796		10,143,299
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)^(a)(b)		2,459		1,502,910
NCR Corp.
5.00%, 10/01/28 (Call 10/01/23)^(a)(b)		8,745		8,603,768
5.13%, 04/15/29 (Call 04/15/24)^(a)(b)		17,422		17,190,810
5.25%, 10/01/30 (Call 10/01/25)^(a)(b)		7,106		6,889,826
5.75%, 09/01/27 (Call 09/01/22)^(a)(b)		6,751		6,840,512
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		8,163		8,471,561
Seagate HDD Cayman
3.13%, 07/15/29 (Call 01/15/24)^(b)		7,529		6,890,465
3.38%, 07/15/31 (Call 01/15/26)		6,793		6,205,632


Security	Par (000)		Value

Computers (continued)
4.09%, 06/01/29 (Call 03/01/29)^(b)	$	7,863	$	7,594,872
4.13%, 01/15/31 (Call 10/15/30)		7,196		6,888,371
4.75%, 06/01/23^(b)		6,428		6,604,770
4.75%, 01/01/25^(b)		7,093		7,323,832
4.88%, 03/01/24 (Call 01/01/24)^(b)		6,264		6,459,750
4.88%, 06/01/27 (Call 03/01/27)^(b)		7,665		7,900,562
Vericast Corp., 11.00%, 09/15/26 (Call 09/15/23)^(a)		18,827		19,180,395
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(b)		499		518,561


				189,584,615

Cosmetics & Personal Care — 0.3%
Coty Inc.
5.00%, 04/15/26 (Call 04/15/23)^(a)(b)		12,722		12,771,998
6.50%, 04/15/26 (Call 04/15/22)^(a)(b)		8,392		8,543,319
Coty Inc/HFC Prestige Products Inc/HFC Prestige International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)^(a)(b)		7,829		7,614,049
Edgewell Personal Care Co.
4.13%, 04/01/29 (Call 04/01/24)^(a)(b)		6,362		5,973,727
5.50%, 06/01/28 (Call 06/01/23)^(a)(b)		11,870		11,972,426


				46,875,519

Distribution & Wholesale — 0.5%
American Builders & Contractors Supply Co. Inc.
3.88%, 11/15/29 (Call 11/15/24)^(a)(b)		7,068		6,688,784
4.00%, 01/15/28 (Call 01/15/23)^(a)(b)		9,922		9,729,186
Avient Corp.
5.25%, 03/15/23^(b)		7,264		7,455,056
5.75%, 05/15/25 (Call 05/15/22)^(a)(b)		9,844		10,071,642
H&E Equipment Services Inc., 3.88%, 12/15/28 (Call 12/15/23)^(a)(b)		18,667		17,468,392
Ritchie Bros Holdings Inc., 4.75%, 12/15/31 (Call 12/15/26)^(a)(b)		8,827		8,775,892
Wolverine Escrow LLC
8.50%, 11/15/24 (Call 11/15/22)^(a)(b)		9,609		8,264,294
9.00%, 11/15/26 (Call 11/15/22)^(a)(b)		13,712		13,751,803
13.13%, 11/15/27 (Call 11/15/22)^(a)(b)		7,555		3,823,302


				86,028,351

Diversified Financial Services — 3.4%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(b)(c)		10,913		10,762,946
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)^(b)		16,142		17,169,140
Coinbase Global Inc.
3.38%, 10/01/28 (Call 10/01/24)^(a)(b)		15,951		14,533,594
3.63%, 10/01/31 (Call 10/01/26)^(a)(b)		14,556		12,832,603
Curo Group Holdings Corp., 7.50%, 08/01/28 (Call 08/01/24)^(a)(b)		14,655		13,006,312
Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)^(a)		10,966		11,376,457
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)^(a)(b)		13,693		13,303,195
LD Holdings Group LLC
6.13%, 04/01/28 (Call 04/01/24)^(a)(b)		9,852		8,785,521
6.50%, 11/01/25 (Call 11/01/22)^(a)(b)		6,797		6,491,135
LPL Holdings Inc.
4.00%, 03/15/29 (Call 03/15/24)^(a)(b)		12,543		12,182,389
4.38%, 05/15/31 (Call 05/15/26)^(a)(b)		6,668		6,519,637
4.63%, 11/15/27 (Call 11/15/22)^(a)(b)		5,629		5,614,271
Midcap Financial Issuer Trust
5.63%, 01/15/30 (Call 01/15/25)^(a)(b)		6,783		6,189,487
6.50%, 05/01/28 (Call 05/01/24)^(a)		13,910		13,548,201


Security	Par (000)		Value

Diversified Financial Services (continued)
Nationstar Mortgage Holdings Inc.
5.13%, 12/15/30 (Call 12/15/25)^(a)	$	9,514	$	8,982,643
5.50%, 08/15/28 (Call 08/15/23)^(a)		12,309		12,224,529
5.75%, 11/15/31 (Call 11/15/26)^(a)(b)		9,164		8,979,895
6.00%, 01/15/27 (Call 01/15/23)^(a)		7,988		8,118,242
Navient Corp.
4.88%, 03/15/28 (Call 06/15/27)		7,549		7,091,814
5.00%, 03/15/27 (Call 09/15/26)^(b)		10,516		10,225,866
5.50%, 01/25/23^(b)		1,217		1,242,691
5.50%, 03/15/29 (Call 06/15/28)^(b)		11,677		11,063,218
5.88%, 10/25/24^(b)		4,969		5,129,946
6.13%, 03/25/24		10,886		11,199,149
6.75%, 06/25/25		7,115		7,396,477
6.75%, 06/15/26^(b)		7,052		7,420,114
7.25%, 09/25/23^(b)		1,776		1,863,006
NFP Corp.
4.88%, 08/15/28 (Call 08/15/23)^(a)(b)		7,156		6,903,608
6.88%, 08/15/28 (Call 08/15/23)^(a)(b)		30,547		28,428,758
OneMain Finance Corp.
3.50%, 01/15/27 (Call 01/15/24)^(b)		11,372		10,750,748
3.88%, 09/15/28 (Call 09/15/24)		9,362		8,670,530
4.00%, 09/15/30 (Call 09/15/25)^(b)		12,809		11,652,988
5.38%, 11/15/29 (Call 05/15/29)^(b)		10,902		10,933,911
5.63%, 03/15/23^(b)		9,844		10,107,719
6.13%, 03/15/24 (Call 09/15/23)^(b)		17,014		17,581,179
6.63%, 01/15/28 (Call 07/15/27)^(b)		12,387		13,194,137
6.88%, 03/15/25		18,062		19,242,364
7.13%, 03/15/26		23,681		25,657,871
8.88%, 06/01/25 (Call 06/01/22)		9,260		9,763,449
PennyMac Financial Services Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)		9,090		8,125,112
5.38%, 10/15/25 (Call 10/15/22)^(a)(b)		8,881		8,855,223
5.75%, 09/15/31 (Call 09/15/26)^(a)		7,643		7,203,527
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc.
2.88%, 10/15/26 (Call 10/15/23)^(a)(b)		17,765		16,699,100
3.63%, 03/01/29 (Call 03/01/24)^(a)(b)		11,244		10,565,527
3.88%, 03/01/31 (Call 03/01/26)^(a)(b)		17,955		16,810,369
4.00%, 10/15/33 (Call 10/15/27)^(a)(b)		12,260		11,410,995
SLM Corp.
3.13%, 11/02/26 (Call 10/02/26)^(b)		11,303		10,825,542
4.20%, 10/29/25 (Call 09/29/25)^(b)		4,334		4,398,107
United Wholesale Mortgage LLC
5.50%, 11/15/25 (Call 11/15/22)^(a)(b)		12,053		11,674,656
5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		9,975		9,214,032
5.75%, 06/15/27 (Call 06/15/24)^(a)(b)		8,159		7,780,009
VistaJet Malta Finance PLC/XO Management Holding Inc., 6.38%, 02/01/30 (Call 02/01/25)^(a)		14,760		14,033,488


				563,735,427

Electric — 2.5%
Calpine Corp.
3.75%, 03/01/31 (Call 03/01/26)^(a)(b)		12,981		11,874,370
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		18,532		18,086,248
4.63%, 02/01/29 (Call 02/01/24)^(a)(b)		9,820		9,132,803
5.00%, 02/01/31 (Call 02/01/26)^(a)(b)		12,023		11,121,088
5.13%, 03/15/28 (Call 03/15/23)^(a)(b)		20,503		19,740,288
5.25%, 06/01/26 (Call 06/01/22)^(a)		7,632		7,741,966
Clearway Energy Operating LLC
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		13,403		12,503,324
4.75%, 03/15/28 (Call 03/15/23)^(a)(b)		13,142		13,200,245


Security	Par (000)		Value

Electric (continued)
DPL Inc.
4.13%, 07/01/25 (Call 04/01/25)^(b)	$	7,183	$	7,246,390
4.35%, 04/15/29 (Call 01/15/29)^(b)		5,638		5,511,145
Electricite de France SA
5.25%, (Call 01/29/23)^(a)(b)(c)(d)		15,430		15,374,361
5.63%, (Call 01/22/24)^(a)(b)(c)(d)		18,398		18,216,412
Emera Inc., Series 16-A, 6.75%, 06/15/76 (Call 06/15/26)^(b)(c)		17,970		19,679,396
FirstEnergy Corp.
2.65%, 03/01/30 (Call 12/01/29)		8,392		7,869,456
Series B, 2.25%, 09/01/30 (Call 06/01/30)		3,728		3,411,743
Series B, 4.40%, 07/15/27 (Call 04/15/27)		22,441		23,198,384
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)		6,209		6,164,761
4.25%, 07/15/24 (Call 04/15/24)^(a)(b)		9,784		9,974,175
4.25%, 09/15/24 (Call 07/15/24)^(a)		908		922,442
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		8,808		8,899,823
NRG Energy Inc.
3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		6,900		6,408,030
3.63%, 02/15/31 (Call 02/15/26)^(a)(b)		15,592		14,350,195
3.88%, 02/15/32 (Call 02/15/27)^(a)(b)		15,646		14,487,564
5.25%, 06/15/29 (Call 06/15/24)^(a)(b)		10,401		10,589,084
5.75%, 01/15/28 (Call 01/15/23)		12,148		12,456,066
6.63%, 01/15/27 (Call 07/15/22)^(b)		2,042		2,112,694
PG&E Corp.
5.00%, 07/01/28 (Call 07/01/23)^(b)		15,150		14,978,967
5.25%, 07/01/30 (Call 07/01/25)^(b)		14,540		14,443,018
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 06/01/22)^(b)		7,945		3,297,175
6.63%, 01/15/28 (Call 01/15/23)^(a)		7,636		6,697,466
7.25%, 05/15/27 (Call 05/15/22)^(a)(b)		10,450		9,326,625
7.63%, 06/01/28 (Call 06/01/23)^(a)		7,466		6,682,070
10.50%, 01/15/26 (Call 01/15/23)^(a)(b)		8,674		3,892,272
Vistra Operations Co. LLC
4.38%, 05/01/29 (Call 05/01/24)^(a)		18,598		18,063,261
5.00%, 07/31/27 (Call 07/31/22)^(a)(b)		17,497		17,596,908
5.50%, 09/01/26 (Call 09/01/22)^(a)(b)		14,488		14,709,811
5.63%, 02/15/27 (Call 02/15/23)^(a)(b)		20,571		21,049,996


				421,010,022

Electrical Components & Equipment — 0.4%
Energizer Holdings Inc.
4.38%, 03/31/29 (Call 09/30/23)^(a)(b)		11,464		10,331,930
4.75%, 06/15/28 (Call 06/15/23)^(a)(b)		10,012		9,491,523
WESCO Distribution Inc.
7.13%, 06/15/25 (Call 06/15/22)^(a)(b)		24,584		25,730,475
7.25%, 06/15/28 (Call 06/15/23)^(a)(b)		16,525		17,691,817


				63,245,745

Electronics — 0.5%
Imola Merger Corp., 4.75%, 05/15/29 (Call 05/15/24)^(a)		29,315		28,401,023
Sensata Technologies BV
4.00%, 04/15/29 (Call 04/15/24)^(a)(b)		15,536		14,964,563
4.88%, 10/15/23^(a)		5,411		5,557,208
5.00%, 10/01/25^(a)(b)		9,361		9,691,233
5.63%, 11/01/24^(a)		4,711		4,951,496
Sensata Technologies Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		10,904		10,193,264
4.38%, 02/15/30 (Call 11/15/29)^(a)(b)		6,512		6,404,552


				80,163,339


Security	Par (000)		Value

Energy - Alternate Sources — 0.1%
TerraForm Power Operating LLC
4.75%, 01/15/30 (Call 01/15/25)^(a)(b)	$	9,782	$	9,636,799
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		10,898		10,925,245


				20,562,044

Engineering & Construction — 0.1%
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/22)^(a)(b)		14,363		13,202,589


Entertainment — 3.0%
AMC Entertainment Holdings Inc., 7.50%, 02/15/29 (Call 02/15/25)^(a)(b)		12,542		12,369,548
Caesars Entertainment Inc.
4.63%, 10/15/29 (Call 10/15/24)^(a)(b)		17,953		17,055,350
6.25%, 07/01/25 (Call 07/01/22)^(a)		49,054		50,856,980
8.13%, 07/01/27 (Call 07/01/23)^(a)(b)		26,295		28,252,663
Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 07/01/22)^(a)		14,374		14,753,683
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(b)		7,682		7,662,795
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 04/15/22)		7,189		7,244,490
5.50%, 05/01/25 (Call 05/01/22)^(a)(b)		14,362		14,790,565
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)		9,859		9,665,961
5.50%, 04/01/27 (Call 04/01/22)^(a)(b)		11,229		11,415,121
Cinemark USA Inc.
5.25%, 07/15/28 (Call 07/15/24)^(a)(b)		12,303		11,737,800
5.88%, 03/15/26 (Call 03/15/23)^(a)(b)		5,420		5,339,784
International Game Technology PLC
4.13%, 04/15/26 (Call 04/15/23)^(a)		11,583		11,484,545
5.25%, 01/15/29 (Call 01/15/24)^(a)(b)		10,773		10,957,286
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		10,605		11,329,852
6.50%, 02/15/25 (Call 08/15/24)^(a)(b)		15,653		16,543,595
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		15,048		14,295,600
Live Nation Entertainment Inc.
3.75%, 01/15/28 (Call 01/15/24)^(a)(b)		9,369		8,984,215
4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		14,029		13,819,015
4.88%, 11/01/24 (Call 10/01/22)^(a)(b)		6,959		7,033,461
6.50%, 05/15/27 (Call 05/15/23)^(a)(b)		17,427		18,698,802
Mohegan Gaming & Entertainment
7.88%, 10/15/24 (Call 10/15/22)^(a)(b)		2,723		2,792,985
8.00%, 02/01/26 (Call 02/01/23)^(a)		17,748		17,925,480
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.
5.63%, 09/01/29 (Call 09/01/24)^(a)(b)		11,017		10,032,447
5.88%, 09/01/31 (Call 09/01/26)^(a)(b)		11,267		10,249,096
Resorts World Las Vegas LLC/RWLV Capital Inc.,
4.63%, 04/16/29 (Call 01/16/29)^(a)(b)		14,377		13,356,805
Scientific Games International Inc.
5.00%, 10/15/25 (Call 10/15/22)^(a)		17,739		17,977,923
7.00%, 05/15/28 (Call 05/15/23)^(a)(b)		11,797		12,239,388
7.25%, 11/15/29 (Call 11/15/24)^(a)(b)		9,853		10,471,258
8.25%, 03/15/26 (Call 03/15/22)^(a)(b)		17,239		18,006,135
8.63%, 07/01/25 (Call 07/01/22)^(a)		9,050		9,569,037
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 07/31/22)^(a)(b)		14,485		14,473,557
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		7,717		7,794,170
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)^(a)		10,813		11,306,938


Security	Par (000)		Value

Entertainment (continued)
WMG Acquisition Corp.
3.00%, 02/15/31 (Call 02/15/26)^(a)	$	11,687	$	10,547,518
3.75%, 12/01/29 (Call 12/01/24)^(a)(b)		8,970		8,559,074
3.88%, 07/15/30 (Call 07/15/25)^(a)(b)		7,361		7,087,232
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.13%, 10/01/29 (Call 07/01/29)^(a)(b)		11,669		11,329,453
7.75%, 04/15/25 (Call 04/15/22)^(a)(b)		8,088		8,443,063


				506,452,670

Environmental Control — 0.7%
Covanta Holding Corp., 5.00%, 09/01/30 (Call 09/01/25)		6,826		6,533,847
Covert Mergeco Inc., 4.88%, 12/01/29 (Call 12/01/24)^(a)		11,336		10,861,403
GFL Environmental Inc.
3.50%, 09/01/28 (Call 03/01/28)^(a)(b)		10,638		10,120,249
3.75%, 08/01/25 (Call 08/01/22)^(a)(b)		10,389		10,285,110
4.00%, 08/01/28 (Call 08/01/23)^(a)(b)		12,660		11,750,063
4.25%, 06/01/25 (Call 06/01/22)^(a)(b)		5,862		5,854,086
4.38%, 08/15/29 (Call 08/15/24)^(a)(b)		8,260		7,666,602
4.75%, 06/15/29 (Call 06/15/24)^(a)(b)		11,197		10,691,455
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		7,591		7,740,849
Madison IAQ LLC
4.13%, 06/30/28 (Call 06/30/24)^(a)(b)		8,987		8,471,371
5.88%, 06/30/29 (Call 06/30/24)^(a)(b)		16,046		14,567,053
Stericycle Inc.
3.88%, 01/15/29 (Call 11/15/23)^(a)(b)		8,054		7,553,645
5.38%, 07/15/24 (Call 06/07/22)^(a)(b)		7,914		8,070,253


				120,165,986

Food — 2.5%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.25%, 03/15/26 (Call 09/15/22)^(a)(b)		11,324		10,885,733
3.50%, 02/15/23 (Call 12/15/22)^(a)(b)		9,332		9,368,301
3.50%, 03/15/29 (Call 09/15/23)^(a)(b)		18,129		16,859,970
4.63%, 01/15/27 (Call 01/15/23)^(a)(b)		18,996		19,091,704
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		15,193		15,230,982
5.88%, 02/15/28 (Call 08/15/22)^(a)(b)		11,832		12,285,535
7.50%, 03/15/26 (Call 03/15/22)^(a)(b)		10,114		10,720,840
B&G Foods Inc.
5.25%, 04/01/25 (Call 04/01/22)^(b)		14,166		14,264,170
5.25%, 09/15/27 (Call 03/01/22)^(b)		7,376		7,360,246
Kraft Heinz Foods Co.
3.00%, 06/01/26 (Call 03/01/26)		27,076		27,088,292
3.75%, 04/01/30 (Call 01/01/30)^(b)		8,563		8,803,192
3.88%, 05/15/27 (Call 02/15/27)^(b)		20,049		20,733,016
4.25%, 03/01/31 (Call 12/01/30)		1,973		2,097,546
Lamb Weston Holdings Inc.
4.13%, 01/31/30 (Call 01/31/25)^(a)(b)		14,898		14,395,193
4.38%, 01/31/32 (Call 01/31/27)^(a)		10,513		10,229,859
4.88%, 05/15/28 (Call 11/15/27)^(a)(b)		6,874		7,063,035
Performance Food Group Inc.
4.25%, 08/01/29 (Call 08/01/24)^(a)(b)		15,658		14,826,659
5.50%, 10/15/27 (Call 10/15/22)^(a)(b)		15,515		15,852,093
Pilgrim’s Pride Corp.
3.50%, 03/01/32 (Call 09/01/26)^(a)(b)		12,873		11,851,937
4.25%, 04/15/31 (Call 04/15/26)^(a)(b)		14,363		13,881,939
5.88%, 09/30/27 (Call 09/30/22)^(a)(b)		14,467		14,850,158


Security	Par (000)		Value

Food (continued)
Post Holdings Inc.
4.50%, 09/15/31 (Call 09/15/26)^(a)	$	27,234	$	25,225,492
4.63%, 04/15/30 (Call 04/15/25)^(a)(b)		23,206		21,871,655
5.50%, 12/15/29 (Call 12/15/24)^(a)(b)		18,810		18,933,205
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		13,689		13,793,077
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		19,359		19,564,949
U.S. Foods Inc.
4.63%, 06/01/30 (Call 06/01/25)^(a)		6,721		6,485,184
4.75%, 02/15/29 (Call 02/15/24)^(a)(b)		12,940		12,735,548
6.25%, 04/15/25 (Call 04/15/22)^(a)(b)		16,320		16,879,776


				413,229,286

Food Service — 0.4%
Aramark Services Inc.
5.00%, 04/01/25 (Call 04/01/22)^(a)(b)		7,150		7,207,200
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		17,151		17,205,883
6.38%, 05/01/25 (Call 05/01/22)^(a)(b)		21,623		22,390,617
TKC Holdings Inc.
6.88%, 05/15/28 (Call 05/15/24)^(a)(b)		6,150		6,119,250
10.50%, 05/15/29 (Call 05/15/24)^(a)(b)		9,895		10,201,910


				63,124,860

Forest Products & Paper — 0.1%
Mercer International Inc., 5.13%, 02/01/29 (Call 02/01/24)^(b)		12,352		12,035,388
Pearl Merger Sub Inc., 6.75%, 10/01/28 (Call 10/01/24)^(a)(b)		7,845		7,837,547


				19,872,935

Gas — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)		11,502		11,703,285
5.63%, 05/20/24 (Call 03/20/24)		7,330		7,492,919
5.75%, 05/20/27 (Call 02/20/27)^(b)		6,968		7,037,680
5.88%, 08/20/26 (Call 05/20/26)		11,269		11,459,784


				37,693,668

Health Care - Products — 1.0%
Avantor Funding Inc.
3.88%, 11/01/29 (Call 11/01/24)^(a)(b)		12,649		12,192,347
4.63%, 07/15/28 (Call 07/15/23)^(a)(b)		22,863		23,205,945
Hologic Inc.
3.25%, 02/15/29 (Call 09/28/23)^(a)(b)		14,092		13,417,501
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		6,987		7,234,698
Mozart Debt Merger Sub Inc.
3.88%, 04/01/29 (Call 10/01/24)^(a)		67,117		63,521,764
5.25%, 10/01/29 (Call 10/01/24)^(a)(b)		36,957		35,438,588
Teleflex Inc.
4.25%, 06/01/28 (Call 06/01/23)^(a)(b)		8,130		8,064,960
4.63%, 11/15/27 (Call 11/15/22)^(b)		6,515		6,618,746


				169,694,549

Health Care - Services — 6.6%
Catalent Pharma Solutions Inc.
3.13%, 02/15/29 (Call 02/15/24)^(a)(b)		7,962		7,418,868
3.50%, 04/01/30 (Call 04/01/25)^(a)		9,319		8,676,269
5.00%, 07/15/27 (Call 07/15/22)^(a)(b)		8,598		8,808,149
Centene Corp.
2.45%, 07/15/28 (Call 05/15/28)		33,162		30,969,163
2.50%, 03/01/31 (Call 12/01/30)^(b)		32,414		29,895,432
2.63%, 08/01/31 (Call 05/01/31)^(b)		19,126		17,699,918
3.00%, 10/15/30 (Call 07/15/30)^(b)		32,405		30,925,731
3.38%, 02/15/30 (Call 02/15/25)^(b)		29,536		28,413,080
4.25%, 12/15/27 (Call 12/15/22)^(b)		35,873		36,721,396


Security	Par (000)		Value

Health Care - Services (continued)
4.63%, 12/15/29 (Call 12/15/24)^(b)	$	50,464	$	51,977,920
Charles River Laboratories International Inc.
3.75%, 03/15/29 (Call 03/15/24)^(a)(b)		7,048		6,774,538
4.00%, 03/15/31 (Call 03/15/26)^(a)(b)		7,999		7,680,290
4.25%, 05/01/28 (Call 05/01/23)^(a)		7,353		7,298,608
CHS/Community Health Systems Inc.
4.75%, 02/15/31 (Call 02/15/26)^(a)(b)		15,932		14,994,857
5.25%, 05/15/30 (Call 05/15/25)^(a)		17,913		17,363,160
5.63%, 03/15/27 (Call 12/15/23)^(a)(b)		27,324		27,492,862
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		13,026		13,090,153
6.13%, 04/01/30 (Call 04/01/25)^(a)(b)		22,894		21,300,005
6.88%, 04/01/28 (Call 04/01/23)^(a)(b)		10,455		9,657,806
6.88%, 04/15/29 (Call 04/15/24)^(a)(b)		25,096		24,335,591
8.00%, 03/15/26 (Call 03/15/22)^(a)		30,048		31,318,676
8.00%, 12/15/27 (Call 12/15/22)^(a)		9,703		10,246,077
DaVita Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		21,355		19,515,807
4.63%, 06/01/30 (Call 06/01/25)^(a)(b)		41,945		40,214,769
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)^(b)		15,051		14,610,006
4.63%, 04/01/31 (Call 04/01/26)^(b)		4,237		4,005,342
4.75%, 02/01/30 (Call 02/01/25)^(b)		13,259		12,645,771
Envision Healthcare Corp., 8.75%, 10/15/26
(Call 10/15/22)^(a)		5,900		3,127,000
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)^(b)		41,096		40,582,300
5.38%, 02/01/25		38,911		41,245,660
5.38%, 09/01/26 (Call 03/01/26)^(b)		15,256		16,405,317
5.63%, 09/01/28 (Call 03/01/28)^(b)		22,755		25,233,588
5.88%, 05/01/23^(b)		16,134		16,779,360
5.88%, 02/15/26 (Call 08/15/25)^(b)		23,270		25,186,289
5.88%, 02/01/29 (Call 08/01/28)		15,209		16,996,058
IQVIA Inc.
5.00%, 10/15/26 (Call 10/15/22)^(a)		14,293		14,587,150
5.00%, 05/15/27 (Call 05/15/22)^(a)(b)		17,560		17,916,468
Legacy LifePoint Health LLC
4.38%, 02/15/27 (Call 04/08/22)^(a)(b)		10,000		9,522,245
6.75%, 04/15/25 (Call 04/15/22)^(a)(b)		8,083		8,362,995
Lifepoint Health Inc., 5.38%, 01/15/29
(Call 01/15/24)^(a)(b)		7,280		6,844,656
ModivCare Escrow Issuer Inc., 5.00%, 10/01/29 (Call 10/01/24)^(a)(b)		7,466		7,009,174
ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/22)^(a)		7,969		8,011,833
Molina Healthcare Inc.
3.88%, 11/15/30 (Call 08/17/30)^(a)(b)		9,364		9,238,757
3.88%, 05/15/32 (Call 02/15/32)^(a)(b)		11,547		11,330,494
4.38%, 06/15/28 (Call 06/15/23)^(a)(b)		11,908		11,881,654
Radiology Partners Inc., 9.25%, 02/01/28 (Call 02/01/23)^(a)(b)		10,944		10,939,098
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/22)^(a)(b)		19,668		20,612,556
RP Escrow Issuer LLC, 5.25%, 12/15/25 (Call 12/15/22)^(a)		11,705		11,553,342
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)		18,158		18,279,295
Tenet Healthcare Corp.
4.25%, 06/01/29 (Call 06/01/24)^(a)		21,802		21,043,290
4.38%, 01/15/30 (Call 12/01/24)^(a)		20,829		20,104,790
4.63%, 07/15/24 (Call 07/15/22)^(b)		13,589		13,682,661
4.63%, 09/01/24 (Call 09/01/22)^(a)(b)		8,754		8,870,182


Security	Par (000)		Value

Health Care - Services (continued)
4.63%, 06/15/28 (Call 06/15/23)^(a)	$	10,581	$	10,400,132
4.88%, 01/01/26 (Call 03/01/22)^(a)(b)		30,422		30,567,417
5.13%, 11/01/27 (Call 11/01/22)^(a)(b)		19,355		19,662,745
6.13%, 10/01/28 (Call 10/01/23)^(a)		37,394		37,840,178
6.25%, 02/01/27 (Call 02/01/23)^(a)(b)		20,818		21,410,272
6.75%, 06/15/23		26,459		27,633,854


				1,096,911,054

Holding Companies - Diversified — 0.5%
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)^(a)		14,676		14,240,724
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.38%, 02/01/29 (Call 08/01/28)		11,167		10,414,025
4.75%, 09/15/24 (Call 06/15/24)		13,231		13,197,922
5.25%, 05/15/27 (Call 11/15/26)^(b)		21,126		20,978,118
6.25%, 05/15/26 (Call 05/15/22)		18,546		18,681,386
6.38%, 12/15/25 (Call 12/15/22)^(b)		8,892		8,989,990


				86,502,165

Home Builders — 0.6%
Ashton Woods USA LLC/Ashton Woods Finance Co., 4.63%, 04/01/30 (Call 04/01/25)^(a)(b)		5,617		5,284,052
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		6,411		5,876,328
6.25%, 09/15/27 (Call 09/15/22)^(a)(b)		9,205		9,273,078
Century Communities Inc.
3.88%, 08/15/29 (Call 02/15/29)^(a)		8,106		7,517,302
6.75%, 06/01/27 (Call 06/01/22)^(b)		5,554		5,776,160
Mattamy Group Corp.
4.63%, 03/01/30 (Call 03/01/25)^(a)(b)		9,210		8,657,400
5.25%, 12/15/27 (Call 12/15/22)^(a)(b)		6,551		6,538,527
Meritage Homes Corp.
3.88%, 04/15/29 (Call 10/15/28)^(a)(b)		7,195		7,057,696
6.00%, 06/01/25 (Call 03/01/25)^(b)		4,583		4,892,353
Picasso Finance Sub Inc., 6.13%, 06/15/25
(Call 06/15/22)^(a)(b)		7,581		7,824,540
Taylor Morrison Communities Inc.
5.13%, 08/01/30 (Call 02/01/30)^(a)(b)		7,497		7,478,257
5.75%, 01/15/28 (Call 10/15/27)^(a)		5,312		5,544,400
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		7,836		8,210,561
Toll Brothers Finance Corp.
3.80%, 11/01/29 (Call 08/01/29)^(b)		829		832,304
4.35%, 02/15/28 (Call 11/15/27)^(b)		933		974,309
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(b)		6,535		6,842,962
Williams Scotsman International Inc., 4.63%, 08/15/28 (Call 08/15/23)^(a)		6,540		6,450,075


				105,030,304

Home Furnishings — 0.1%
Tempur Sealy International Inc.
3.88%, 10/15/31 (Call 10/15/26)^(a)(b)		12,358		11,102,032
4.00%, 04/15/29 (Call 04/15/24)^(a)		11,576		10,909,454


				22,011,486

Household Products & Wares — 0.2%
Central Garden & Pet Co.
4.13%, 10/15/30 (Call 10/15/25)^(b)		7,783		7,392,294
4.13%, 04/30/31 (Call 04/30/26)^(a)		5,860		5,469,395


Security	Par (000)		Value

Household Products & Wares (continued)
Kronos Acquisition Holdings Inc./KIK Custom Products Inc.
5.00%, 12/31/26 (Call 06/30/23)^(a)(b)	$	7,082	$	6,391,505
7.00%, 12/31/27 (Call 12/31/23)^(a)(b)		7,038		5,931,626
Spectrum Brands Inc.
3.88%, 03/15/31 (Call 03/15/26)^(a)(b)		7,550		6,895,226
5.75%, 07/15/25 (Call 07/15/22)^(b)		5,945		6,066,063


				38,146,109

Housewares — 0.4%
Newell Brands Inc.
4.35%, 04/01/23 (Call 02/01/23)^(b)		14,554		14,808,695
4.70%, 04/01/26 (Call 01/01/26)^(b)		30,232		31,335,973
4.88%, 06/01/25 (Call 05/01/25)^(b)		7,969		8,389,365
Scotts Miracle-Gro Co. (The)
4.00%, 04/01/31 (Call 04/01/26)		9,725		8,943,527
4.38%, 02/01/32 (Call 08/01/26)		5,263		4,847,565
4.50%, 10/15/29 (Call 10/15/24)^(b)		4,598		4,437,070


				72,762,195

Insurance — 1.1%
Acrisure LLC/Acrisure Finance Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)(b)		11,035		10,372,900
6.00%, 08/01/29 (Call 08/01/24)^(a)		6,678		6,073,207
7.00%, 11/15/25 (Call 11/15/22)^(a)(b)		13,107		13,043,431
10.13%, 08/01/26 (Call 08/01/22)^(a)(b)		5,712		6,066,287
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.25%, 10/15/27 (Call 10/15/23)^(a)(b)		10,917		10,650,443
5.88%, 11/01/29 (Call 11/01/24)^(a)(b)		6,473		6,122,568
6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		18,408		18,023,639
AssuredPartners Inc.
5.63%, 01/15/29 (Call 12/15/23)^(a)(b)		8,175		7,502,458
7.00%, 08/15/25 (Call 08/15/22)^(a)(b)		7,662		7,620,936
Enstar Finance LLC, 5.50%, 01/15/42 (Call 01/15/27)^(c)		7,430		7,220,474
Global Atlantic Fin Co., 4.70%, 10/15/51 (Call 07/15/26)^(a)(b)(c)		10,663		10,134,078
GTCR AP Finance Inc., 8.00%, 05/15/27 (Call 05/15/22)^(a)(b)		6,139		6,207,584
HUB International Ltd.
5.63%, 12/01/29 (Call 12/01/24)^(a)(b)		8,425		8,033,153
7.00%, 05/01/26 (Call 05/01/22)^(a)(b)		24,021		24,290,996
Liberty Mutual Group Inc.
4.13%, 12/15/51 (Call 09/15/26)^(a)(b)(c)		6,523		6,218,850
4.30%, 02/01/61 (Call 02/01/26)^(a)		11,491		9,308,070
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)		7,400		7,527,934
4.88%, 03/15/27 (Call 09/15/26)^(b)		5,723		5,908,998
6.63%, 03/15/25 (Call 09/15/24)^(b)		7,483		8,023,580


				178,349,586

Internet — 1.3%
Arches Buyer Inc.
4.25%, 06/01/28 (Call 12/01/23)^(a)(b)		14,061		13,315,767
6.13%, 12/01/28 (Call 12/01/23)^(a)(b)		7,687		7,247,304
Go Daddy Operating Co. LLC/GD Finance Co. Inc.
3.50%, 03/01/29 (Call 03/01/24)^(a)(b)		11,355		10,763,632
5.25%, 12/01/27 (Call 06/01/22)^(a)		9,964		10,162,607
Match Group Holdings II LLC
3.63%, 10/01/31 (Call 10/01/26)^(a)(b)		6,892		6,435,405
4.13%, 08/01/30 (Call 05/01/25)^(a)(b)		7,395		7,173,150
4.63%, 06/01/28 (Call 06/01/23)^(a)(b)		6,483		6,489,863


Security	Par (000)		Value

Internet (continued)
5.00%, 12/15/27 (Call 12/15/22)^(a)	$	8,346	$	8,376,631
NortonLifeLock Inc., 5.00%, 04/15/25 (Call 04/15/22)^(a)		16,131		16,151,139
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)^(a)(b)		11,730		11,647,889
Rakuten Group Inc.
5.13%, (Call 04/22/26)^(a)(b)(c)(d)		10,892		10,224,838
6.25%, (Call 04/22/31)^(a)(b)(c)(d)		14,431		13,854,352
Twitter Inc.
3.88%, 12/15/27 (Call 09/15/27)^(a)		1,980		1,941,855
5.00%, 03/01/30 (Call 12/01/29)^(a)(b)		14,445		14,517,225
Uber Technologies Inc.
4.50%, 08/15/29 (Call 08/15/24)^(a)(b)		22,948		21,969,268
6.25%, 01/15/28 (Call 09/15/23)^(a)		7,938		8,099,697
7.50%, 05/15/25 (Call 05/15/22)^(a)(b)		15,666		16,312,222
7.50%, 09/15/27 (Call 09/15/22)^(a)(b)		15,979		17,077,556
8.00%, 11/01/26 (Call 11/01/22)^(a)		21,364		22,645,840


				224,406,240

Iron & Steel — 0.3%
Cleveland-Cliffs Inc.
4.63%, 03/01/29 (Call 03/01/24)^(a)(b)		7,586		7,332,214
4.88%, 03/01/31 (Call 03/01/26)^(a)(b)		6,925		6,704,699
5.88%, 06/01/27 (Call 06/01/22)^(b)		8,321		8,560,034
6.75%, 03/15/26 (Call 03/15/22)^(a)(b)		13,957		14,709,841
9.88%, 10/17/25 (Call 10/17/22)^(a)(b)		7,878		8,773,722
United States Steel Corp., 6.88%, 03/01/29
(Call 03/01/24)^(b)		10,494		10,793,079


				56,873,589

Leisure Time — 0.6%
Life Time Inc.
5.75%, 01/15/26 (Call 01/15/23)^(a)(b)		14,054		14,045,846
8.00%, 04/15/26 (Call 02/01/23)^(a)(b)		6,469		6,464,989
NCL Corp. Ltd.
3.63%, 12/15/24 (Call 12/15/22)^(a)(b)		8,155		7,670,740
5.88%, 03/15/26 (Call 12/15/25)^(a)(b)		21,342		20,541,675
5.88%, 02/15/27 (Call 02/15/24)^(a)		6,824		6,832,530
7.75%, 02/15/29 (Call 11/15/28)^(a)(b)		5,955		6,172,655
NCL Finance Ltd., 6.13%, 03/15/28 (Call 12/15/27)^(a)(b)		7,010		6,764,650
Viking Cruises Ltd.
5.88%, 09/15/27 (Call 09/15/22)^(a)(b)		12,520		11,627,950
7.00%, 02/15/29 (Call 02/15/24)^(a)		6,805		6,436,396
13.00%, 05/15/25 (Call 05/15/22)^(a)(b)		8,648		9,628,948
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)(b)		9,969		9,511,890


				105,698,269

Lodging — 2.9%
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)^(b)		14,803		14,863,692
4.75%, 06/15/31 (Call 06/15/26)^(a)		12,922		12,695,865
8.63%, 06/01/25 (Call 06/01/22)^(a)(b)		1,126		1,188,001
Hilton Domestic Operating Co. Inc.
3.63%, 02/15/32 (Call 08/15/26)^(a)(b)		22,137		21,029,597
3.75%, 05/01/29 (Call 05/01/24)^(a)(b)		11,616		11,226,126
4.00%, 05/01/31 (Call 05/01/26)^(a)(b)		16,885		16,464,563
4.88%, 01/15/30 (Call 01/15/25)^(b)		14,901		15,338,195
5.38%, 05/01/25 (Call 05/01/22)^(a)(b)		9,868		10,159,106
5.75%, 05/01/28 (Call 05/01/23)^(a)(b)		5,347		5,583,987
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc
4.88%, 07/01/31 (Call 07/01/26)^(a)		7,149		6,832,046
5.00%, 06/01/29 (Call 06/01/24)^(a)(b)		12,122		11,929,321


Security	Par (000)		Value

Lodging (continued)
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 04/01/22)^(b)	$	8,126	$	8,298,678
Marriott Ownership Resorts Inc.
4.50%, 06/15/29 (Call 06/15/24)^(a)(b)		6,504		6,195,060
6.13%, 09/15/25 (Call 05/15/22)^(a)(b)		511		528,300
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 06/06/22)^(a)(b)		14,575		13,911,837
5.25%, 04/26/26 (Call 04/26/22)^(a)(b)		7,377		6,922,918
5.38%, 12/04/29 (Call 12/04/24)^(a)(b)		15,660		13,617,936
5.63%, 07/17/27 (Call 07/17/22)^(a)(b)		9,503		8,883,404
5.75%, 07/21/28 (Call 07/21/23)^(a)		12,050		10,930,210
MGM China Holdings Ltd.
4.75%, 02/01/27 (Call 02/01/24)^(a)(b)		9,606		8,741,460
5.25%, 06/18/25 (Call 06/18/22)^(a)(b)		7,720		7,379,496
5.38%, 05/15/24 (Call 05/15/22)^(a)(b)		10,983		10,703,718
5.88%, 05/15/26 (Call 05/15/22)^(a)(b)		10,413		10,003,677
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		5,865		5,898,724
4.75%, 10/15/28 (Call 07/15/28)^(b)		10,987		10,959,533
5.50%, 04/15/27 (Call 01/15/27)^(b)		10,453		10,762,722
5.75%, 06/15/25 (Call 03/15/25)^(b)		8,769		9,174,566
6.00%, 03/15/23^(b)		17,795		18,333,299
6.75%, 05/01/25 (Call 05/01/22)^(b)		12,896		13,388,280
Station Casinos LLC
4.50%, 02/15/28 (Call 02/15/23)^(a)		11,219		10,784,264
4.63%, 12/01/31 (Call 06/01/31)^(a)(b)		6,915		6,534,675
Studio City Finance Ltd.
5.00%, 01/15/29 (Call 01/15/24)^(a)(b)		15,923		12,663,084
6.00%, 07/15/25 (Call 07/15/22)^(a)(b)		6,813		6,352,203
6.50%, 01/15/28 (Call 07/15/23)^(a)(b)		7,453		6,557,043
Travel + Leisure Co.
3.90%, 03/01/23 (Call 12/01/22)		2,294		2,303,382
4.50%, 12/01/29 (Call 09/01/29)^(a)(b)		9,731		9,349,920
6.00%, 04/01/27 (Call 01/01/27)		4,746		4,946,623
6.63%, 07/31/26 (Call 04/30/26)^(a)(b)		10,878		11,642,180
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)		4,893		4,917,465
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		13,823		13,760,797
5.50%, 03/01/25 (Call 12/01/24)^(a)		27,081		27,428,652
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 10/01/22)^(a)(b)		8,507		7,955,011
5.13%, 12/15/29 (Call 12/15/24)^(a)		14,830		12,679,650
5.50%, 01/15/26 (Call 06/15/22)^(a)(b)		13,587		12,284,686
5.50%, 10/01/27 (Call 10/01/22)^(a)(b)		10,433		9,160,696
5.63%, 08/26/28 (Call 08/26/23)^(a)(b)		19,368		16,872,433


				478,137,081

Machinery — 0.2%
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 04/15/22)^(a)(b)		10,323		10,116,540
TK Elevator U.S. Newco Inc., 5.25%, 07/15/27 (Call 07/15/23)^(a)		22,367		22,311,083
Vertical Holdco GmbH, 7.63%, 07/15/28 (Call 07/15/23)^(a)(b)		6,510		6,645,896


				39,073,519

Manufacturing — 0.2%
FXI Holdings Inc.
7.88%, 11/01/24 (Call 11/01/22)^(a)(b)		8,090		8,007,107
12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		11,200		12,019,728


Security	Par (000)		Value

Manufacturing (continued)
Hillenbrand Inc., 5.75%, 06/15/25 (Call 06/15/22)	$	5,652	$	5,848,810


				25,875,645

Media — 9.9%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)^(a)(b)		17,307		15,624,933
5.75%, 08/15/29 (Call 08/15/24)^(a)(b)		27,836		25,365,555
AMC Networks Inc.
4.25%, 02/15/29 (Call 02/15/24)		16,049		15,065,999
4.75%, 08/01/25 (Call 08/01/22)^(b)		10,356		10,358,404
5.00%, 04/01/24 (Call 04/01/22)		5,636		5,628,955
Audacy Capital Corp., 6.75%, 03/31/29 (Call 03/31/24)^(a)(b)		8,224		7,812,800
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 03/24/22)^(a)		7,683		7,673,396
4.25%, 02/01/31 (Call 07/01/25)^(a)(b)		44,366		41,606,435
4.25%, 01/15/34 (Call 01/15/28)^(a)		30,115		27,551,611
4.50%, 08/15/30 (Call 02/15/25)^(a)(b)		39,550		38,057,778
4.50%, 05/01/32 (Call 05/01/26)		43,018		40,867,100
4.50%, 06/01/33 (Call 06/01/27)^(a)(b)		23,916		22,421,250
4.75%, 03/01/30 (Call 09/01/24)^(a)(b)		46,329		45,425,584
4.75%, 02/01/32 (Call 02/01/27)^(a)(b)		17,490		17,009,025
5.00%, 02/01/28 (Call 08/01/22)^(a)		37,447		37,719,240
5.13%, 05/01/27 (Call 05/01/22)^(a)(b)		50,880		51,473,261
5.38%, 06/01/29 (Call 06/01/24)^(a)(b)		22,736		23,090,227
5.50%, 05/01/26 (Call 05/01/22)^(a)(b)		15,324		15,634,254
CSC Holdings LLC
3.38%, 02/15/31 (Call 02/15/26)^(a)(b)		15,184		12,927,088
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		17,498		15,737,264
4.50%, 11/15/31 (Call 11/15/26)^(a)(b)		22,831		20,776,210
4.63%, 12/01/30 (Call 12/01/25)^(a)(b)		34,107		28,322,702
5.00%, 11/15/31 (Call 11/15/26)^(a)(b)		6,476		5,408,540
5.25%, 06/01/24^(b)		9,977		10,150,031
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		15,020		14,631,132
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		19,583		19,597,993
5.75%, 01/15/30 (Call 01/15/25)^(a)(b)		33,055		29,204,754
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		25,093		25,406,662
7.50%, 04/01/28 (Call 04/01/23)^(a)		15,825		15,772,447
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(a)(b)		45,535		18,669,350
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		27,164		6,423,800
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)^(a)(b)		54,754		54,735,384
DISH DBS Corp.
5.00%, 03/15/23^(b)		19,992		20,357,404
5.25%, 12/01/26 (Call 06/01/26)^(a)		41,267		40,299,805
5.75%, 12/01/28 (Call 12/01/27)^(a)		37,261		35,767,415
5.88%, 11/15/24		29,457		29,457,000
7.38%, 07/01/28 (Call 07/01/23)^(b)		14,137		13,340,845
7.75%, 07/01/26^(b)		30,073		30,491,517
5.13%, 06/01/29^(b)		23,280		19,642,500
Entercom Media Corp., 6.50%, 05/01/27 (Call 05/01/22)^(a)(b)		7,100		6,745,000
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc.
4.63%, 01/15/29 (Call 01/15/25)^(a)		15,209		14,562,617
6.75%, 01/15/30 (Call 01/15/25)^(a)		18,787		17,895,651
Gray Escrow II Inc., 5.38%, 11/15/31 (Call 11/15/26)^(a)(b)		20,184		19,256,545


Security	Par (000)		Value

Media (continued)
Gray Television Inc.
4.75%, 10/15/30 (Call 10/15/25)^(a)(b)	$	11,915	$	11,173,887
5.88%, 07/15/26 (Call 07/15/22)^(a)(b)		10,397		10,630,933
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)		10,904		11,468,391
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		6,896		6,671,880
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		10,721		10,670,719
6.38%, 05/01/26 (Call 05/01/22)^(b)		12,719		13,116,105
8.38%, 05/01/27 (Call 05/01/22)^(b)		22,539		23,469,181
LCPR Senior Secured Financing DAC
5.13%, 07/15/29 (Call 07/15/24)^(a)		11,838		11,376,318
6.75%, 10/15/27 (Call 10/15/22)^(a)		19,255		19,818,594
McGraw-Hill Education Inc.
5.75%, 08/01/28 (Call 08/01/24)^(a)(b)		13,705		13,036,881
8.00%, 08/01/29 (Call 08/01/24)^(a)		9,995		9,135,238
News Corp.
3.88%, 05/15/29 (Call 05/15/24)^(a)(b)		14,487		13,877,320
5.13%, 02/15/32 (Call 02/15/27)^(a)(b)		6,331		6,466,800
Nexstar Media Inc.
4.75%, 11/01/28 (Call 11/01/23)^(a)(b)		14,030		13,658,230
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		25,321		25,890,722
Quebecor Media Inc., 5.75%, 01/15/23^(b)		891		909,678
Radiate Holdco LLC/Radiate Finance Inc.
4.50%, 09/15/26 (Call 09/15/23)^(a)(b)		13,531		12,874,972
6.50%, 09/15/28 (Call 09/15/23)^(a)(b)		14,789		14,049,550
Scripps Escrow II Inc.
3.88%, 01/15/29 (Call 01/15/24)^(a)(b)		7,869		7,390,502
5.38%, 01/15/31 (Call 01/15/26)^(a)(b)		7,698		7,311,176
Scripps Escrow Inc., 5.88%, 07/15/27
(Call 07/15/22)^(a)(b)		8,328		8,320,671
Sinclair Television Group Inc.
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		11,179		10,029,985
5.13%, 02/15/27 (Call 08/15/22)^(a)(b)		5,553		5,067,095
5.50%, 03/01/30 (Call 12/01/24)^(a)(b)		6,522		5,767,429
Sirius XM Radio Inc.
3.13%, 09/01/26 (Call 09/01/23)^(a)(b)		14,859		14,161,247
3.88%, 09/01/31 (Call 09/01/26)^(a)(b)		22,757		20,979,537
4.00%, 07/15/28 (Call 07/15/24)^(a)(b)		29,771		28,617,374
4.13%, 07/01/30 (Call 07/01/25)^(a)(b)		21,177		20,016,924
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		22,398		22,509,990
5.50%, 07/01/29 (Call 07/01/24)^(a)(b)		18,455		18,870,237
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)^(b)		15,165		15,154,839
4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		8,158		8,212,251
5.00%, 09/15/29 (Call 09/15/24)^(b)		15,772		15,728,627
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(a)		14,400		14,418,000
Univision Communications Inc.
4.50%, 05/01/29 (Call 05/01/24)^(a)(b)		15,315		14,510,962
5.13%, 02/15/25 (Call 02/15/23)^(a)(b)		22,270		22,428,097
6.63%, 06/01/27 (Call 06/01/23)^(a)(b)		21,237		22,182,325
UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)^(a)		18,855		18,080,374
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(a)(b)		7,734		7,700,486
ViacomCBS Inc., 6.25%, 02/28/57 (Call 02/28/27)^(c)		10,287		10,500,044
Videotron Ltd.
3.63%, 06/15/29 (Call 06/15/24)^(a)(b)		9,039		8,587,050
5.13%, 04/15/27 (Call 04/15/22)^(a)(b)		9,457		9,625,381
5.38%, 06/15/24 (Call 03/15/24)^(a)		6,032		6,248,911


Security	Par (000)		Value

Media (continued)
Virgin Media Finance PLC, 5.00%, 07/15/30
(Call 07/15/25)^(a)(b)	$	14,035	$	13,254,420
Virgin Media Secured Finance PLC
4.50%, 08/15/30 (Call 08/15/25)^(a)(b)		13,897		13,108,345
5.50%, 05/15/29 (Call 05/15/24)^(a)(b)		20,368		20,355,918
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 07/15/23)^(a)		7,483		7,141,027
VZ Secured Financing BV, 5.00%, 01/15/32
(Call 01/15/27)^(a)(b)		20,718		19,744,772
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)(b)		8,179		7,670,130
6.00%, 01/15/27 (Call 01/15/23)^(a)(b)		9,526		9,699,254
Ziggo BV, 4.88%, 01/15/30 (Call 10/15/24)^(a)(b)		15,233		14,640,182


				1,650,294,424

Mining — 1.0%
Alcoa Nederland Holding BV
4.13%, 03/31/29 (Call 03/31/24)^(a)(b)		6,343		6,357,272
5.50%, 12/15/27 (Call 06/15/23)^(a)(b)		11,274		11,776,905
6.13%, 05/15/28 (Call 05/15/23)^(a)(b)		6,861		7,240,518
Arconic Corp.
6.00%, 05/15/25 (Call 05/15/22)^(a)(b)		9,356		9,702,172
6.13%, 02/15/28 (Call 02/15/23)^(a)(b)		14,040		14,359,000
Constellium SE
3.75%, 04/15/29 (Call 04/15/24)^(a)(b)		7,503		6,896,045
5.88%, 02/15/26 (Call 11/15/22)^(a)(b)		1,094		1,106,479
FMG Resources August 2006 Pty Ltd.
4.38%, 04/01/31 (Call 01/01/31)^(a)(b)		20,946		20,373,127
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		10,382		10,407,747
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		9,495		9,784,657
Freeport-McMoRan Inc.
4.38%, 08/01/28 (Call 08/01/23)		1,450		1,473,228
4.63%, 08/01/30 (Call 08/01/25)^(b)		678		698,274
5.00%, 09/01/27 (Call 09/01/22)^(b)		1,230		1,267,788
5.25%, 09/01/29 (Call 09/01/24)		810		849,836
Kaiser Aluminum Corp.
4.50%, 06/01/31 (Call 06/01/26)^(a)(b)		8,171		7,353,900
4.63%, 03/01/28 (Call 03/01/23)^(a)(b)		7,311		6,890,618
Novelis Corp.
3.25%, 11/15/26 (Call 11/15/23)^(a)(b)		11,255		10,720,387
3.88%, 08/15/31 (Call 08/15/26)^(a)(b)		10,378		9,564,624
4.75%, 01/30/30 (Call 01/30/25)^(a)(b)		23,133		22,648,049


				159,470,626

Office & Business Equipment — 0.3%
CDW LLC/CDW Finance Corp.
3.25%, 02/15/29 (Call 08/15/23)		721		671,705
3.57%, 12/01/31 (Call 09/01/31)		790		768,394
4.25%, 04/01/28 (Call 10/01/22)^(b)		1,011		1,002,533
Pitney Bowes Inc., 6.88%, 03/15/27 (Call 03/15/24)^(a)(b)		5,399		5,088,557
Xerox Corp., 4.38%, 03/15/23 (Call 02/15/23)^(b)		13,049		13,192,895
Xerox Holdings Corp.
5.00%, 08/15/25 (Call 07/15/25)^(a)(b)		11,732		11,906,807
5.50%, 08/15/28 (Call 07/15/28)^(a)(b)		11,230		11,181,471


				43,812,362

Oil & Gas — 6.5%
Antero Resources Corp.
5.00%, 03/01/25 (Call 03/01/22)^(b)		6,292		6,368,697
5.38%, 03/01/30 (Call 03/01/25)^(a)(b)		8,932		9,103,271
7.63%, 02/01/29 (Call 02/01/24)^(a)		7,591		8,208,104


Security	Par (000)		Value

Oil & Gas (continued)
8.38%, 07/15/26 (Call 01/15/24)^(a)(b)	$	638	$	700,621
Apache Corp.
4.25%, 01/15/30 (Call 10/15/29)^(b)		9,583		9,615,577
4.38%, 10/15/28 (Call 07/15/28)^(b)		9,413		9,514,098
4.63%, 11/15/25 (Call 08/15/25)^(b)		6,577		6,800,892
4.88%, 11/15/27 (Call 05/15/27)^(b)		340		348,357
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
5.88%, 06/30/29 (Call 09/01/24)^(a)(b)		6,400		6,048,000
7.00%, 11/01/26 (Call 11/01/22)^(a)		8,054		7,949,379
Callon Petroleum Co.
6.13%, 10/01/24 (Call 10/01/22)		7,492		7,476,080
8.00%, 08/01/28 (Call 08/01/24)^(a)(b)		8,963		9,275,136
Calumet Specialty Products Partners LP/Calumet
Finance Corp., 11.00%, 04/15/25
(Call 04/15/23)^(a)(b)		7,125		7,520,438
Chesapeake Energy Corp.
5.50%, 02/01/26 (Call 02/05/23)^(a)		7,549		7,737,725
5.88%, 02/01/29 (Call 02/05/24)^(a)(b)		7,352		7,592,142
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/22)^(a)(b)		19,812		19,848,527
CITGO Petroleum Corp.
6.38%, 06/15/26 (Call 06/15/23)^(a)(b)		8,998		8,928,715
7.00%, 06/15/25 (Call 06/15/22)^(a)		17,083		17,083,000
CNX Resources Corp.
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		7,480		7,598,985
7.25%, 03/14/27 (Call 03/14/22)^(a)(b)		10,191		10,727,047
Colgate Energy Partners III LLC, 5.88%, 07/01/29 (Call 07/01/24)^(a)		9,520		9,798,746
Comstock Resources Inc.
5.88%, 01/15/30 (Call 01/15/25)^(a)(b)		13,879		13,431,402
6.75%, 03/01/29 (Call 03/01/24)^(a)(b)		17,971		18,307,956
7.50%, 05/15/25 (Call 05/15/22)^(a)		943		962,346
CrownRock LP/CrownRock Finance Inc.
5.00%, 05/01/29 (Call 05/01/24)^(a)(b)		6,451		6,577,138
5.63%, 10/15/25 (Call 10/15/22)^(a)(b)		15,479		15,639,285
CVR Energy Inc.
5.25%, 02/15/25 (Call 02/15/23)^(a)(b)		10,955		10,606,631
5.75%, 02/15/28 (Call 02/15/23)^(a)(b)		5,200		4,901,000
Endeavor Energy Resources LP/EER Finance Inc.
5.75%, 01/30/28 (Call 01/30/23)^(a)(b)		13,380		13,831,212
6.63%, 07/15/25 (Call 07/15/22)^(a)(b)		10,149		10,603,281
Energean Israel Finance Ltd.
4.50%, 03/30/24 (Call 12/30/23)^(a)(e)		10,661		10,327,844
4.88%, 03/30/26 (Call 12/30/25)^(a)(e)		9,613		9,101,108
5.38%, 03/30/28 (Call 09/30/27)^(a)(e)		8,640		8,119,008
5.88%, 03/30/31 (Call 09/30/30)^(a)(e)		8,601		8,128,977
EQT Corp.
3.13%, 05/15/26 (Call 05/15/23)^(a)(b)		7,634		7,499,117
3.63%, 05/15/31 (Call 05/15/30)^(a)(b)		6,433		6,268,154
3.90%, 10/01/27 (Call 07/01/27)		18,768		18,951,926
6.63%, 02/01/25 (Call 01/01/25)		15,072		16,306,492
7.50%, 02/01/30 (Call 11/01/29)^(b)		11,114		13,261,614
Hilcorp Energy I LP/Hilcorp Finance Co.
5.75%, 02/01/29 (Call 02/01/24)^(a)		8,781		8,807,826
6.00%, 02/01/31 (Call 02/01/26)^(a)(b)		9,368		9,475,732
6.25%, 11/01/28 (Call 11/01/23)^(a)(b)		9,505		9,682,458
Laredo Petroleum Inc.
7.75%, 07/31/29 (Call 07/31/24)^(a)(b)		6,154		5,990,304
9.50%, 01/15/25 (Call 01/15/23)^(b)		7,358		7,658,298


Security	Par (000)		Value

Oil & Gas (continued)
Leviathan Bond Ltd.
5.75%, 06/30/23 (Call 03/30/23)(a)(e)	$	7,284	$	7,309,252
6.13%, 06/30/25 (Call 03/30/25)(a)(e)		10,315		10,509,696
6.50%, 06/30/27 (Call 12/30/26)(a)(e)		6,773		6,947,066
6.75%, 06/30/30 (Call 12/30/29)(a)(e)		7,341		7,441,939
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/22)(b)		14,514		14,731,710
MEG Energy Corp.
5.88%, 02/01/29 (Call 02/01/24)(a)(b)		9,984		10,094,885
6.50%, 01/15/25 (Call 01/15/23)(a)(b)		521		529,059
7.13%, 02/01/27 (Call 02/01/23)(a)(b)		16,718		17,459,861
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 01/15/23)(a)(b)		10,408		9,226,692
10.50%, 05/15/27 (Call 05/15/22)(a)(b)		7,340		6,917,950
Murphy Oil Corp.
5.75%, 08/15/25 (Call 08/15/22)(b)		9,185		9,373,375
5.88%, 12/01/27 (Call 12/01/22)(b)		7,619		7,770,999
6.38%, 07/15/28 (Call 07/15/24)		7,279		7,555,545
6.88%, 08/15/24 (Call 08/15/22)(b)		790		800,325
Nabors Industries Inc.
5.75%, 02/01/25 (Call 11/01/24)(b)		9,709		9,316,271
7.38%, 05/15/27 (Call 05/15/24)(a)		10,920		11,315,031
Nabors Industries Ltd.
7.25%, 01/15/26 (Call 07/15/22)(a)(b)		7,845		7,648,875
7.50%, 01/15/28 (Call 01/15/23)(a)		873		835,898
Occidental Petroleum Corp.
2.70%, 02/15/23 (Call 11/15/22)		676		676,000
2.90%, 08/15/24 (Call 07/15/24)		18,141		18,201,063
3.00%, 02/15/27 (Call 11/15/26)(b)		8,584		8,410,174
3.20%, 08/15/26 (Call 06/15/26)(b)		11,862		11,853,104
3.40%, 04/15/26 (Call 01/15/26)		11,271		11,302,904
3.50%, 06/15/25 (Call 03/15/25)		831		848,659
3.50%, 08/15/29 (Call 05/15/29)(b)		21,431		21,323,845
5.50%, 12/01/25 (Call 09/01/25)		10,333		11,104,875
5.55%, 03/15/26 (Call 12/15/25)(b)		15,954		17,145,764
5.88%, 09/01/25 (Call 06/01/25)		13,440		14,460,208
6.13%, 01/01/31 (Call 07/01/30)(b)		18,861		21,446,843
6.38%, 09/01/28 (Call 03/01/28)(b)		8,975		10,148,145
6.63%, 09/01/30 (Call 03/01/30)(b)		22,989		26,787,472
6.95%, 07/01/24		7,610		8,261,036
7.50%, 05/01/31(b)		12,596		15,324,608
7.88%, 09/15/31		6,842		8,481,685
8.00%, 07/15/25 (Call 04/15/25)		6,957		7,859,897
8.50%, 07/15/27 (Call 01/15/27)(b)		7,119		8,574,836
8.88%, 07/15/30 (Call 01/15/30)(b)		15,833		20,390,212
Parkland Corp.
4.50%, 10/01/29 (Call 10/01/24)(a)(b)		11,318		10,691,338
4.63%, 05/01/30 (Call 05/01/25)(a)(b)		12,110		11,447,986
5.88%, 07/15/27 (Call 07/15/22)(a)		7,254		7,373,691
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)		10,574		7,765,281
7.25%, 06/15/25 (Call 06/15/22)		10,980		9,223,200
9.25%, 05/15/25 (Call 05/15/22)(a)(b)		16,851		17,145,892
PDC Energy Inc., 5.75%, 05/15/26 (Call 05/15/22)(b)		685		694,806
Puma International Financing SA
5.00%, 01/24/26 (Call 03/21/22)(a)		9,945		9,716,420
5.13%, 10/06/24 (Call 03/21/22)(a)		8,681		8,494,793
Range Resources Corp.
4.75%, 02/15/30 (Call 02/15/25)(a)(b)		1,370		1,340,888
4.88%, 05/15/25 (Call 02/15/25)^(b)		11,159		11,305,518


Security	Par (000)		Value

Oil & Gas (continued)
5.00%, 08/15/22 (Call 05/15/22)	$	4,473	$	4,478,591
5.00%, 03/15/23 (Call 12/15/22)		4,692		4,744,785
8.25%, 01/15/29 (Call 01/15/24)^(b)		9,537		10,441,942
SM Energy Co.
6.50%, 07/15/28 (Call 07/15/24)		6,924		7,097,100
6.63%, 01/15/27 (Call 01/15/23)		5,136		5,213,040
6.75%, 09/15/26 (Call 09/15/22)^(b)		7,073		7,168,403
10.00%, 01/15/25 (Call 06/17/22)^(a)		6,520		7,132,880
Southwestern Energy Co.
4.75%, 02/01/32 (Call 02/01/27)^(b)		16,732		16,734,440
5.38%, 02/01/29 (Call 02/01/24)^(b)		9,592		9,862,117
5.38%, 03/15/30 (Call 03/15/25)^(b)		17,792		18,370,240
5.95%, 01/23/25 (Call 10/23/24)^(b)		3,124		3,271,368
7.75%, 10/01/27 (Call 10/01/22)^(b)		5,299		5,590,445
Sunoco LP/Sunoco Finance Corp.
4.50%, 05/15/29 (Call 05/15/24)^(b)		11,195		10,697,382
4.50%, 04/30/30 (Call 04/30/25)^(a)		12,492		11,950,160
5.88%, 03/15/28 (Call 03/15/23)^(b)		7,479		7,635,280
6.00%, 04/15/27 (Call 04/15/22)^(b)		7,724		7,960,731
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/22)^(a)		5,268		5,963,221
Transocean Inc.
7.25%, 11/01/25 (Call 11/01/22)^(a)		6,216		4,809,630
7.50%, 01/15/26 (Call 01/15/23)^(a)		7,521		5,828,775
8.00%, 02/01/27 (Call 02/01/23)^(a)(b)		8,592		6,358,080
11.50%, 01/30/27 (Call 07/30/23)^(a)(b)		10,103		10,103,000
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/22)^(a)		4,515		4,469,568
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/23)^(a)(b)		7,426		7,237,059
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/16/22)^(a)		3,834		3,726,839
Vine Energy Holdings LLC, 6.75%, 04/15/29 (Call 04/15/24)^(a)		6,594		6,971,177


				1,090,084,471

Oil & Gas Services — 0.5%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)^(a)(b)		12,088		12,118,220
6.88%, 04/01/27 (Call 04/01/22)^(a)(b)		7,205		7,398,238
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 04/01/22)		9,969		10,013,661
6.88%, 09/01/27 (Call 09/01/22)		12,085		12,100,106
Weatherford International Ltd.
6.50%, 09/15/28 (Call 09/15/24)^(a)(b)		7,153		7,390,328
8.63%, 04/30/30 (Call 10/30/24)^(a)		24,173		24,529,310
11.00%, 12/01/24 (Call 12/01/22)^(a)(b)		1,285		1,332,099


				74,881,962

Packaging & Containers — 2.3%
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.25%, 09/01/28 (Call 05/15/24)^(a)		8,093		7,610,253
4.00%, 09/01/29 (Call 05/15/24)^(a)(b)		15,704		14,727,211
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)(b)		19,129		18,508,901
5.25%, 04/30/25 (Call 04/30/22)^(a)		9,442		9,554,124
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		27,033		25,644,791


Security	Par (000)		Value

Packaging & Containers (continued)
Ball Corp.
2.88%, 08/15/30 (Call 05/15/30)^(b)	$	19,689	$	17,962,275
3.13%, 09/15/31 (Call 06/15/31)^(b)		11,540		10,598,221
4.00%, 11/15/23^(b)		14,555		14,959,083
4.88%, 03/15/26 (Call 12/15/25)^(b)		11,598		12,133,142
5.25%, 07/01/25		13,927		14,788,026
Berry Global Inc.
4.50%, 02/15/26 (Call 02/15/23)^(a)(b)		841		842,682
5.63%, 07/15/27 (Call 07/15/22)^(a)		7,081		7,238,425
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)^(b)		6,177		6,319,900
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/23)^(b)		13,001		13,223,494
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 04/08/22)^(a)(b)		9,509		9,521,718
7.88%, 07/15/26 (Call 07/15/22)^(a)(b)		7,461		7,710,570
Graphic Packaging International LLC, 3.50%, 03/15/28^(a)(b)		6,000		5,748,375
Graphic Packaging International LLC., 3.75%, 02/01/30 (Call 08/01/29)^(a)(b)		6,231		5,928,859
LABL Inc.
5.88%, 11/01/28 (Call 11/01/24)^(a)		6,831		6,538,292
6.75%, 07/15/26 (Call 07/15/22)^(a)(b)		10,149		10,172,909
8.25%, 11/01/29 (Call 11/01/24)^(a)(b)		6,506		6,006,664
10.50%, 07/15/27 (Call 07/15/22)^(a)(b)		9,217		9,491,845
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 04/15/22)^(a)(b)		20,990		20,885,050
7.25%, 04/15/25 (Call 04/15/22)^(a)(b)		20,459		20,101,223
OI European Group BV, 4.75%, 02/15/30 (Call 11/15/24)^(a)		6,552		6,335,784
Owens-Brockway Glass Container Inc.
5.88%, 08/15/23^(a)(b)		7,907		8,108,000
6.63%, 05/13/27 (Call 05/15/23)^(a)(b)		10,372		10,748,633
Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 4.00%, 10/15/27 (Call 10/15/23)^(a)(b)		15,181		14,055,784
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., 4.38%, 10/15/28 (Call 10/15/24)^(a)		7,060		6,521,675
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)		7,846		7,804,819
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		4,313		4,473,356
5.25%, 04/01/23 (Call 01/01/23)^(a)(b)		5,323		5,430,923
5.50%, 09/15/25 (Call 06/15/25)^(a)		5,891		6,168,613
Silgan Holdings Inc., 4.13%, 02/01/28 (Call 10/01/22)^(b)		8,621		8,447,268
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		15,836		15,956,251
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		9,886		10,136,116


				380,403,255

Pharmaceuticals — 4.1%
AdaptHealth LLC
4.63%, 08/01/29 (Call 02/01/24)^(a)(b)		7,715		6,996,219
5.13%, 03/01/30 (Call 03/01/25)^(a)(b)		9,419		8,752,637
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)^(a)(b)		25,869		26,231,166
9.25%, 04/01/26 (Call 04/01/22)^(a)(b)		21,540		22,292,823
Bausch Health Companies Inc.
4.88%, 06/01/28 (Call 06/01/24)^(a)(b)		23,787		22,869,535
5.00%, 01/30/28 (Call 01/30/23)^(a)(b)		18,502		15,513,940


Security	Par (000)		Value

Pharmaceuticals (continued)
5.00%, 02/15/29 (Call 02/15/24)^(a)(b)	$	15,065	$	12,183,065
5.25%, 01/30/30 (Call 01/30/25)^(a)(b)		17,838		14,393,595
5.25%, 02/15/31 (Call 02/15/26)^(a)		14,849		11,804,955
5.50%, 11/01/25 (Call 11/01/22)^(a)(b)		25,843		25,875,304
5.75%, 08/15/27 (Call 08/15/22)^(a)(b)		8,743		8,736,939
6.13%, 04/15/25 (Call 03/15/22)^(a)(b)		43,489		43,940,838
6.13%, 02/01/27 (Call 02/01/24)^(a)		6,095		6,144,979
6.25%, 02/15/29 (Call 02/15/24)^(a)		21,826		18,610,157
7.00%, 01/15/28 (Call 01/15/23)^(a)(b)		11,222		10,218,332
7.25%, 05/30/29 (Call 05/30/24)^(a)		10,475		9,165,206
9.00%, 12/15/25 (Call 12/15/22)^(a)		22,959		23,795,546
Elanco Animal Health Inc.
5.77%, 08/28/23 (Call 07/28/23)		8,764		9,031,971
6.40%, 08/28/28 (Call 05/28/28)^(b)		11,774		12,704,735
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 06/30/28 (Call 06/30/23)^(a)(b)		18,718		12,353,880
9.50%, 07/31/27 (Call 07/31/23)^(a)(b)		12,563		12,248,925
Endo Luxembourg Finance Co. I Sarl/Endo U.S. Inc., 6.13%, 04/01/29 (Call 04/01/24)^(a)(b)		18,050		17,125,502
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)^(a)		9,022		9,439,268
HLF Financing Sarl LLC/Herbalife International Inc., 4.88%, 06/01/29 (Call 06/01/24)^(a)(b)		9,466		8,703,311
Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)^(a)(b)		22,976		22,755,201
Organon & Co./Organon Foreign Debt Co-Issuer BV
4.13%, 04/30/28 (Call 04/30/24)^(a)(b)		30,041		29,545,591
5.13%, 04/30/31 (Call 04/30/26)^(a)(b)		30,424		30,254,450
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)^(a)(b)		29,204		29,212,761
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)		8,855		8,832,005
3.90%, 06/15/30 (Call 03/15/30)		12,231		11,157,918
4.38%, 03/15/26 (Call 12/15/25)^(b)		9,922		9,910,976
Prestige Brands Inc.
3.75%, 04/01/31 (Call 04/01/26)^(a)		8,747		8,034,863
5.13%, 01/15/28 (Call 01/15/23)^(a)(b)		6,375		6,412,006
Teva Pharmaceutical Finance Netherlands III BV
2.80%, 07/21/23^(b)		22,339		21,907,857
3.15%, 10/01/26^(b)		49,489		45,016,060
4.75%, 05/09/27 (Call 02/09/27)^(b)		15,923		15,341,147
5.13%, 05/09/29 (Call 02/09/29)^(b)		14,881		14,261,994
6.00%, 04/15/24 (Call 01/15/24)^(b)		19,238		19,580,436
6.75%, 03/01/28 (Call 12/01/27)^(b)		17,895		18,771,855
7.13%, 01/31/25 (Call 10/31/24)^(b)		13,946		14,643,300


				674,771,248

Pipelines — 5.1%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 06/15/29 (Call 06/15/24)^(a)(b)		10,863		10,917,532
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		9,995		10,180,307
5.75%, 01/15/28 (Call 01/15/23)^(a)(b)		9,940		10,087,168
7.88%, 05/15/26 (Call 05/15/23)^(a)		6,287		6,747,791
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)^(b)		8,842		8,532,530
4.13%, 03/01/25 (Call 02/01/25)^(a)(b)		8,135		8,079,763
4.13%, 12/01/27 (Call 09/01/27)^(b)		5,542		5,234,245
4.15%, 07/01/23 (Call 04/01/23)^(b)		6,971		7,033,181
4.50%, 03/01/28 (Call 12/01/27)^(a)(b)		7,179		6,820,050


Security	Par (000)		Value

Pipelines (continued)
Cheniere Energy Inc., 4.63%, 10/15/28 (Call 10/15/23)^(b)	$	29,563	$	30,132,088
Cheniere Energy Partners LP
3.25%, 01/31/32 (Call 01/31/27)^(a)(b)		17,861		16,775,944
4.00%, 03/01/31 (Call 03/01/26)^(b)		22,050		21,733,951
4.50%, 10/01/29 (Call 10/01/24)^(b)		22,359		22,771,076
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (Call 06/15/26)^(a)(b)		20,844		20,717,200
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/01/22)^(a)(b)		8,741		8,736,265
5.75%, 04/01/25 (Call 04/01/22)^(b)		4,773		4,837,091
6.00%, 02/01/29 (Call 02/01/24)^(a)(b)		10,497		10,558,827
DCP Midstream Operating LP
3.25%, 02/15/32 (Call 08/15/31)^(b)		6,128		5,730,011
3.88%, 03/15/23 (Call 12/15/22)^(b)		3,215		3,252,564
5.13%, 05/15/29 (Call 02/15/29)^(b)		9,937		10,477,945
5.38%, 07/15/25 (Call 04/15/25)		12,388		13,119,511
5.63%, 07/15/27 (Call 04/15/27)		9,251		9,905,647
5.85%, 05/21/43 (Call 05/21/23)^(a)(b)(c)		6,261		5,860,745
DT Midstream Inc.
4.13%, 06/15/29 (Call 06/15/24)^(a)		15,867		15,459,615
4.38%, 06/15/31 (Call 06/15/26)^(a)		14,902		14,498,110
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)^(b)		10,760		10,811,409
4.40%, 04/01/24 (Call 01/01/24)^(b)		5,205		5,281,448
4.85%, 07/15/26 (Call 04/15/26)^(b)		8,754		8,932,363
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)		6,468		6,362,178
4.13%, 12/01/26 (Call 09/01/26)^(b)		6,204		5,950,218
4.50%, 01/15/29 (Call 07/15/28)^(a)(b)		11,715		10,938,881
4.75%, 07/15/23 (Call 06/15/23)^(b)		5,863		5,864,349
4.75%, 01/15/31 (Call 07/15/30)^(a)(b)		16,457		15,480,381
5.50%, 07/15/28 (Call 04/15/28)^(b)		12,340		12,114,918
6.00%, 07/01/25 (Call 04/01/25)^(a)		10,207		10,416,881
6.50%, 07/01/27 (Call 01/01/27)^(a)(b)		14,035		14,664,002
Genesis Energy LP/Genesis Energy Finance Corp.
6.50%, 10/01/25 (Call 10/01/22)^(b)		8,763		8,614,029
7.75%, 02/01/28 (Call 02/01/23)^(b)		10,421		10,288,132
8.00%, 01/15/27 (Call 01/15/24)		15,094		15,308,382
Hess Midstream Operations LP
4.25%, 02/15/30 (Call 02/15/25)^(a)		12,393		11,934,872
5.13%, 06/15/28 (Call 06/15/23)^(a)(b)		7,269		7,418,378
5.63%, 02/15/26 (Call 02/15/23)^(a)(b)		10,200		10,445,757
ITT Holdings LLC, 6.50%, 08/01/29 (Call 08/01/24)^(a)(b)		17,184		16,102,439
New Fortress Energy Inc.
6.50%, 09/30/26 (Call 03/31/23)^(a)(b)		21,318		20,418,380
6.75%, 09/15/25 (Call 09/15/22)^(a)(b)		18,230		17,523,405
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)^(a)		29,767		29,850,348
NGL Energy Partners LP/NGL Energy Finance Corp., 7.50%, 11/01/23 (Call 04/08/22)^(b)		8,007		7,704,870
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)^(b)		8,446		8,436,757
5.75%, 10/01/25 (Call 07/01/25)^(b)		9,633		10,018,320
6.00%, 06/01/26 (Call 03/01/26)		7,018		7,130,288
6.38%, 10/01/30 (Call 04/01/30)^(b)		8,630		8,720,902
Rockies Express Pipeline LLC
3.60%, 05/15/25 (Call 04/15/25)^(a)		8,331		8,135,555
4.95%, 07/15/29 (Call 04/15/29)^(a)(b)		7,297		7,080,279


Security	Par (000)		Value

Pipelines (continued)
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.50%, 01/15/28 (Call 01/15/23)^(a)(b)	$	10,634	$	10,132,644
6.00%, 03/01/27 (Call 03/01/23)^(a)(b)		6,935		6,965,264
6.00%, 12/31/30 (Call 12/31/25)^(a)		11,422		10,986,277
6.00%, 09/01/31 (Call 09/01/26)^(a)(b)		7,142		6,805,872
7.50%, 10/01/25 (Call 10/01/22)^(a)		6,574		6,902,991
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.00%, 01/15/32 (Call 07/15/26)		13,869		13,749,449
4.88%, 02/01/31 (Call 02/01/26)^(b)		13,618		14,037,605
5.00%, 01/15/28 (Call 01/15/23)^(b)		7,933		8,189,236
5.38%, 02/01/27 (Call 02/01/23)^(b)		6,967		7,167,301
5.50%, 03/01/30 (Call 03/01/25)^(b)		13,756		14,581,360
5.88%, 04/15/26 (Call 04/15/22)^(b)		17,157		17,714,603
6.50%, 07/15/27 (Call 07/15/22)^(b)		13,065		13,848,900
6.88%, 01/15/29 (Call 01/15/24)		6,967		7,576,613
Venture Global Calcasieu Pass LLC
3.88%, 11/01/33 (Call 05/01/33)^(a)(b)		18,503		17,768,523
3.88%, 08/15/29 (Call 02/15/29)^(a)(b)		17,613		17,239,825
4.13%, 08/15/31 (Call 02/15/31)^(a)		17,944		17,764,560
Western Midstream Operating LP
3.60%, 02/01/25 (Call 01/01/25)		12,041		12,071,103
3.95%, 06/01/25 (Call 03/01/25)		1,374		1,390,340
4.50%, 03/01/28 (Call 12/01/27)		6,052		6,257,526
4.65%, 07/01/26 (Call 04/01/26)^(b)		6,806		7,049,469
4.75%, 08/15/28 (Call 05/15/28)^(b)		5,070		5,274,701
5.30%, 02/01/30 (Call 11/01/29)^(b)		17,545		18,081,000


				841,702,440

Real Estate — 0.6%
Howard Hughes Corp. (The)
4.13%, 02/01/29 (Call 02/01/24)^(a)		8,981		8,507,028
4.38%, 02/01/31 (Call 02/01/26)^(a)(b)		9,652		9,116,686
5.38%, 08/01/28 (Call 08/01/23)^(a)		11,176		11,295,136
Kennedy-Wilson Inc.
4.75%, 03/01/29 (Call 03/01/24)^(b)		8,527		8,324,839
4.75%, 02/01/30 (Call 09/01/24)^(b)		9,214		8,810,888
5.00%, 03/01/31 (Call 03/01/26)^(b)		9,119		8,905,843
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)(b)		3,791		3,882,867
5.25%, 04/15/30 (Call 04/15/25)^(a)		15,005		14,326,024
5.75%, 01/15/29 (Call 01/15/24)^(a)(b)		12,735		12,591,731
WeWork Companies Inc., 7.88%, 05/01/25^(a)(b)		9,734		8,812,190
WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)^(a)(b)		8,300		6,972,000


				101,545,232

Real Estate Investment Trusts — 4.1%
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL
4.50%, 04/01/27 (Call 10/01/23)^(a)(b)		11,204		10,440,940
5.75%, 05/15/26 (Call 05/15/22)^(a)		13,824		13,668,480
Diversified Healthcare Trust
4.38%, 03/01/31 (Call 09/01/30)^(b)		7,225		6,241,232
4.75%, 02/15/28 (Call 08/15/27)^(b)		7,305		6,620,638
9.75%, 06/15/25 (Call 06/15/22)		14,955		15,823,458
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/26 (Call 03/15/26)^(a)(b)		12,614		12,009,048
6.00%, 04/15/25 (Call 04/15/22)^(a)(b)		6,351		6,538,355


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Iron Mountain Inc.
4.50%, 02/15/31 (Call 02/15/26)^(a)(b)	$	15,978	$	14,959,689
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		15,090		15,083,430
4.88%, 09/15/29 (Call 09/15/24)^(a)		14,715		14,256,791
5.00%, 07/15/28 (Call 07/15/23)^(a)(b)		7,338		7,295,806
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		12,542		12,562,460
5.25%, 07/15/30 (Call 07/15/25)^(a)(b)		19,152		19,007,402
5.63%, 07/15/32 (Call 07/15/26)^(a)(b)		8,317		8,202,413
Iron Mountain Information Management Services Inc., 5.00%, 07/15/32 (Call 07/15/27)^(a)		11,173		10,642,282
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)^(b)		7,116		7,099,491
4.75%, 10/01/24 (Call 07/01/24)^(b)		11,242		11,353,717
5.50%, 02/15/26 (Call 08/15/22)^(b)		6,462		6,584,531
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(a)		9,085		8,866,960
4.75%, 06/15/29 (Call 06/15/24)^(a)(b)		10,038		9,671,613
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
3.88%, 02/15/29 (Call 11/15/28)^(a)(b)		12,120		12,200,979
4.50%, 09/01/26 (Call 06/01/26)^(b)		6,067		6,208,134
4.63%, 06/15/25 (Call 03/15/25)^(a)		10,797		11,107,414
5.63%, 05/01/24 (Call 02/01/24)^(b)		16,954		17,654,700
5.75%, 02/01/27 (Call 11/01/26)		11,265		12,188,379
MPT Operating Partnership LP/MPT Finance Corp.
3.50%, 03/15/31 (Call 03/15/26)		19,180		18,078,109
4.63%, 08/01/29 (Call 08/01/24)^(b)		12,552		12,657,741
5.00%, 10/15/27 (Call 10/15/22)^(b)		22,087		22,529,250
5.25%, 08/01/26 (Call 08/01/22)^(b)		5,874		6,013,508
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.88%, 05/15/29 (Call 05/15/24)^(a)(b)		12,442		11,989,422
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		9,804		9,984,198
7.50%, 06/01/25 (Call 06/01/22)^(a)(b)		6,776		7,081,513
RHP Hotel Properties LP/RHP Finance Corp.
4.50%, 02/15/29 (Call 02/15/24)^(a)(b)		8,413		8,028,973
4.75%, 10/15/27 (Call 10/15/22)		10,445		10,238,239
RLJ Lodging Trust LP
3.75%, 07/01/26 (Call 07/01/23)^(a)(b)		7,371		7,154,938
4.00%, 09/15/29 (Call 09/15/24)^(a)(b)		7,444		7,011,178
SBA Communications Corp.
3.13%, 02/01/29 (Call 02/01/24)		22,803		21,122,419
3.88%, 02/15/27 (Call 02/15/23)^(b)		21,393		21,344,224
Service Properties Trust
3.95%, 01/15/28 (Call 07/15/27)^(b)		5,653		4,933,677
4.35%, 10/01/24 (Call 09/01/24)		12,636		12,111,606
4.38%, 02/15/30 (Call 08/15/29)^(b)		6,227		5,417,490
4.50%, 06/15/23 (Call 12/15/22)		5,116		5,057,920
4.75%, 10/01/26 (Call 08/01/26)		6,841		6,326,625
4.95%, 02/15/27 (Call 08/15/26)^(b)		5,706		5,302,072
4.95%, 10/01/29 (Call 07/01/29)^(b)		6,402		5,777,850
5.50%, 12/15/27 (Call 09/15/27)		7,235		7,064,465
7.50%, 09/15/25 (Call 06/15/25)^(b)		11,457		12,055,873
Starwood Property Trust Inc.
3.63%, 07/15/26 (Call 01/15/26)^(a)		4,131		3,930,404
3.75%, 12/31/24 (Call 09/30/24)^(a)		4,255		4,169,941
4.38%, 01/15/27 (Call 07/15/26)^(a)		8,856		8,593,270
4.75%, 03/15/25 (Call 09/15/24)^(b)		8,292		8,390,445


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
6.00%, 01/15/30 (Call 01/15/25)^(a)(b)	$	10,564	$	9,401,960
7.88%, 02/15/25 (Call 02/15/23)^(a)		33,807		35,212,019
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
4.75%, 04/15/28 (Call 04/15/24)^(a)(b)		7,420		7,056,272
6.50%, 02/15/29 (Call 02/15/24)^(a)(b)		16,680		15,522,129
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 02/15/23)^(a)(b)		12,652		12,681,606
3.75%, 02/15/27 (Call 02/15/23)^(a)(b)		11,361		11,294,688
4.13%, 08/15/30 (Call 02/15/25)^(a)(b)		13,760		13,681,462
4.25%, 12/01/26 (Call 12/01/22)^(a)		21,201		21,430,993
4.63%, 12/01/29 (Call 12/01/24)^(a)(b)		13,244		13,537,634
XHR LP
4.88%, 06/01/29 (Call 06/01/24)^(a)		6,374		6,210,780
6.38%, 08/15/25 (Call 08/15/22)^(a)(b)		7,140		7,370,916


				682,054,151

Retail — 4.1%
1011778 BC ULC/New Red Finance Inc.
3.50%, 02/15/29 (Call 02/15/24)^(a)(b)		10,124		9,544,036
3.88%, 01/15/28 (Call 09/15/22)^(a)		23,041		22,553,024
4.00%, 10/15/30 (Call 10/15/25)^(a)		41,797		38,609,979
4.38%, 01/15/28 (Call 11/15/22)^(a)(b)		11,712		11,492,400
5.75%, 04/15/25 (Call 04/15/22)^(a)(b)		8,072		8,332,336
Asbury Automotive Group Inc.
4.50%, 03/01/28 (Call 03/01/23)		3,759		3,698,185
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		12,832		12,546,688
4.75%, 03/01/30 (Call 03/01/25)^(b)		7,145		6,955,695
5.00%, 02/15/32 (Call 11/15/26)^(a)(b)		8,542		8,335,184
Bath & Body Works Inc.
5.25%, 02/01/28		7,264		7,562,914
6.63%, 10/01/30 (Call 10/01/25)^(a)(b)		14,995		16,206,209
7.50%, 06/15/29 (Call 06/15/24)		6,582		7,213,082
9.38%, 07/01/25^(a)		610		713,973
Carvana Co.
4.88%, 09/01/29 (Call 09/01/24)^(a)(b)		10,649		8,877,107
5.50%, 04/15/27 (Call 04/15/24)^(a)(b)		8,660		7,759,631
5.63%, 10/01/25 (Call 10/01/22)^(a)(b)		7,237		6,923,667
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		8,021		7,158,743
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/15/22)^(a)(b)		11,471		11,483,905
8.50%, 10/30/25 (Call 10/30/22)^(a)		8,706		8,837,681
Ferrellgas LP/Ferrellgas Finance Corp.
5.38%, 04/01/26 (Call 04/01/23)^(a)		9,388		8,824,720
5.88%, 04/01/29 (Call 04/01/24)^(a)		12,143		11,110,845
FirstCash Inc.
4.63%, 09/01/28 (Call 09/01/23)^(a)(b)		8,327		7,858,606
5.63%, 01/01/30 (Call 01/01/25)^(a)		7,170		7,113,548
Gap Inc. (The)
3.63%, 10/01/29 (Call 10/01/24)^(a)(b)		11,152		10,092,560
3.88%, 10/01/31 (Call 10/01/26)^(a)(b)		9,998		8,956,808
IRB Holding Corp.
6.75%, 02/15/26 (Call 02/15/23)^(a)(b)		8,097		8,156,570
7.00%, 06/15/25 (Call 06/15/22)^(a)(b)		10,021		10,455,671
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		11,125		11,397,006
LBM Acquisition LLC, 6.25%, 01/15/29 (Call 01/15/24)^(a)(b)		11,354		10,534,241


Security	Par (000)		Value

Retail (continued)
LCM Investments Holdings II LLC, 4.88%, 05/01/29 (Call 05/01/24)^(a)(b)	$	14,796	$	14,105,944
Lithia Motors Inc.
3.88%, 06/01/29 (Call 06/01/24)^(a)(b)		11,507		11,334,395
4.38%, 01/15/31 (Call 10/15/25)^(a)(b)		8,963		9,062,751
4.63%, 12/15/27 (Call 12/15/22)^(a)(b)		4,471		4,575,017
Macy’s Retail Holdings LLC
2.88%, 02/15/23 (Call 11/15/22)^(b)		5,593		5,593,000
3.63%, 06/01/24 (Call 03/01/24)^(b)		923		943,721
5.88%, 04/01/29 (Call 04/01/24)^(a)(b)		6,592		6,740,320
Michaels Companies Inc (The)
5.25%, 05/01/28 (Call 11/01/23)^(a)(b)		11,876		11,170,800
7.88%, 05/01/29 (Call 05/01/24)^(a)(b)		19,377		16,845,792
Murphy Oil USA Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		6,996		6,520,381
4.75%, 09/15/29 (Call 09/15/24)^(b)		6,666		6,683,255
NMG Holding Co. Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (Call 04/01/23)^(a)		15,982		16,453,469
Nordstrom Inc.
4.25%, 08/01/31 (Call 05/01/31)^(b)		5,592		5,009,481
4.38%, 04/01/30 (Call 01/01/30)^(b)		7,790		7,109,933
Penske Automotive Group Inc.
3.50%, 09/01/25 (Call 09/01/22)^(b)		7,943		7,856,785
3.75%, 06/15/29 (Call 06/15/24)^(b)		7,340		6,853,725
PetSmart Inc./PetSmart Finance Corp.
4.75%, 02/15/28 (Call 02/15/24)^(a)(b)		18,619		18,572,452
7.75%, 02/15/29 (Call 02/15/24)^(a)(b)		16,367		17,207,491
QVC Inc.
4.38%, 03/15/23		9,080		9,210,977
4.38%, 09/01/28 (Call 06/01/28)^(b)		7,070		6,420,479
4.45%, 02/15/25 (Call 11/15/24)^(b)		9,004		8,920,555
4.75%, 02/15/27 (Call 11/15/26)^(b)		9,490		8,918,569
4.85%, 04/01/24^(b)		7,943		8,088,580
Rite Aid Corp.
7.50%, 07/01/25 (Call 07/01/22)^(a)(b)		9,206		8,812,041
8.00%, 11/15/26 (Call 01/15/23)^(a)(b)		12,350		11,772,823
Sonic Automotive Inc.
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		9,711		9,214,331
4.88%, 11/15/31 (Call 11/15/26)^(a)		6,866		6,488,370
SRS Distribution Inc.
4.63%, 07/01/28 (Call 07/01/24)^(a)(b)		9,255		8,885,494
6.00%, 12/01/29 (Call 12/01/24)^(a)(b)		12,636		11,941,020
6.13%, 07/01/29 (Call 07/01/24)^(a)(b)		6,512		6,205,676
Staples Inc.
7.50%, 04/15/26 (Call 04/15/22)^(a)		29,126		28,760,469
10.75%, 04/15/27 (Call 04/15/22)^(a)(b)		15,138		14,116,185
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (Call 06/01/26)^(a)		8,841		8,487,452
Yum! Brands Inc.
3.63%, 03/15/31 (Call 12/15/30)^(b)		14,485		13,543,475
4.63%, 01/31/32 (Call 10/01/26)^(b)		17,311		17,155,597
4.75%, 01/15/30 (Call 10/15/29)^(a)(b)		13,158		13,394,736
7.75%, 04/01/25 (Call 04/01/22)^(a)(b)		7,517		7,832,338


				680,112,893

Semiconductors — 0.0%
Microchip Technology Inc., 4.25%, 09/01/25 (Call 09/01/22)		71		72,818


Security	Par (000)		Value

Software — 2.2%
Black Knight InfoServ LLC, 3.63%, 09/01/28 (Call 09/01/23)^(a)(b)	$	15,090	$	14,313,808
Boxer Parent Co. Inc., 7.13%, 10/02/25 (Call 06/01/22)^(a)(b)		379		393,199
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)^(b)		11,507		11,770,050
5.00%, 10/15/24 (Call 07/15/24)^(b)		5,097		5,322,906
5.25%, 05/15/29 (Call 05/15/24)^(a)(b)		8,023		8,243,450
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 03/01/22)^(a)		19,673		19,599,226
Clarivate Science Holdings Corp.
3.88%, 07/01/28 (Call 06/30/24)^(a)		13,909		13,144,005
4.88%, 07/01/29 (Call 06/30/24)^(a)(b)		14,141		13,316,014
Fair Isaac Corp.
4.00%, 06/15/28 (Call 12/15/22)^(a)(b)		14,611		14,452,060
5.25%, 05/15/26 (Call 02/15/26)^(a)(b)		3,718		3,967,140
Minerva Merger Sub Inc., 6.50%, 02/15/30
(Call 02/15/25)^(a)(b)		34,025		32,766,670
MSCI Inc.
3.25%, 08/15/33 (Call 08/15/27)^(a)(b)		10,075		9,532,626
3.63%, 09/01/30 (Call 03/01/25)^(a)(b)		13,296		13,063,498
3.63%, 11/01/31 (Call 11/01/26)^(a)(b)		9,076		8,896,096
3.88%, 02/15/31 (Call 06/01/25)^(a)(b)		14,345		14,280,627
4.00%, 11/15/29 (Call 11/15/24)^(a)(b)		15,258		15,372,682
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(a)(b)		12,516		12,111,608
3.88%, 12/01/29 (Call 12/01/24)^(a)		13,816		13,093,827
Open Text Holdings Inc.
4.13%, 02/15/30 (Call 02/15/25)^(a)(b)		14,122		13,519,020
4.13%, 12/01/31 (Call 12/01/26)^(a)(b)		9,186		8,710,441
PTC Inc.
3.63%, 02/15/25 (Call 02/15/23)^(a)		7,909		7,860,063
4.00%, 02/15/28 (Call 02/15/23)^(a)(b)		7,000		6,862,330
Rackspace Technology Global Inc.
3.50%, 02/15/28 (Call 02/15/24)^(a)(b)		8,709		7,903,418
5.38%, 12/01/28 (Call 12/01/23)^(a)(b)		8,018		7,182,224
ROBLOX Corp., 3.88%, 05/01/30 (Call 11/01/24)^(a)(b)		15,570		14,827,311
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)^(a)(b)		28,334		29,154,706
Twilio Inc.
3.63%, 03/15/29 (Call 03/15/24)^(b)		7,439		7,125,669
3.88%, 03/15/31 (Call 03/15/26)^(b)		7,772		7,326,406
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 09/01/22)^(a)		25,111		24,806,883


				358,917,963

Telecommunications — 7.1%
Altice France Holding SA
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		18,306		16,177,928
10.50%, 05/15/27 (Call 05/15/22)^(a)		23,006		24,098,785
Altice France SA, 5.50%, 10/15/29 (Call 10/15/24)^(a)(b)		29,991		27,479,254
Altice France SA/France
5.13%, 01/15/29 (Call 09/15/23)^(a)		7,315		6,617,675
5.13%, 07/15/29 (Call 04/15/24)^(a)		36,202		32,762,810
5.50%, 01/15/28 (Call 09/15/22)^(a)(b)		16,161		15,111,797
8.13%, 02/01/27 (Call 08/01/22)^(a)(b)		26,050		27,412,415
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)^(a)(b)		14,600		14,087,149
British Telecommunications PLC
4.25%, 11/23/81 (Call 11/23/26)^(a)(b)(c)		6,810		6,516,898
4.88%, 11/23/81 (Call 08/23/31)^(a)(b)(c)		7,245		6,948,272


Security	Par (000)		Value

Telecommunications (continued)
CommScope Inc.
4.75%, 09/01/29 (Call 09/01/24)^(a)(b)	$	17,703	$	16,643,309
6.00%, 03/01/26 (Call 03/01/22)^(a)		21,353		21,864,191
7.13%, 07/01/28 (Call 07/01/23)^(a)(b)		11,748		11,087,175
8.25%, 03/01/27 (Call 03/01/22)^(a)(b)		14,110		14,039,450
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)^(a)(b)		10,784		9,615,661
6.00%, 06/15/25 (Call 06/15/22)^(a)(b)		18,597		18,200,287
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(a)(b)		30,070		30,445,875
Consolidated Communications Inc.
5.00%, 10/01/28 (Call 10/01/23)^(a)(b)		5,520		5,237,031
6.50%, 10/01/28 (Call 10/01/23)^(a)(b)		11,526		11,494,880
Frontier Communications Holdings LLC
5.00%, 05/01/28 (Call 05/01/24)^(a)(b)		22,425		21,854,719
5.88%, 10/15/27 (Call 10/15/23)^(a)(b)		17,328		17,568,736
5.88%, 11/01/29 (Call 11/01/24)^(b)		10,962		10,117,926
6.00%, 01/15/30 (Call 10/15/24)^(a)(b)		15,328		14,213,195
6.75%, 05/01/29 (Call 05/01/24)^(a)(b)		15,210		14,795,053
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(b)		10,848		11,133,953
6.63%, 08/01/26^(b)		12,638		13,173,513
Iliad Holding SAS
6.50%, 10/15/26 (Call 10/15/23)^(a)		16,953		16,953,000
7.00%, 10/15/28 (Call 10/15/24)^(a)(b)		13,428		13,331,721
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(a)(b)(c)		9,782		10,053,915
Level 3 Financing Inc.
3.63%, 01/15/29 (Call 01/15/24)^(a)(b)		12,651		11,140,660
3.75%, 07/15/29 (Call 01/15/24)^(a)(b)		13,860		12,335,400
4.25%, 07/01/28 (Call 07/01/23)^(a)(b)		17,528		16,183,942
4.63%, 09/15/27 (Call 09/15/22)^(a)(b)		14,675		14,161,375
5.25%, 03/15/26 (Call 03/15/22)^(b)		10,847		10,879,819
5.38%, 05/01/25 (Call 05/01/22)^(b)		12,186		12,232,516
Lumen Technologies Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)(b)		19,384		18,450,474
4.50%, 01/15/29 (Call 01/15/24)^(a)(b)		14,319		12,008,629
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		17,793		16,581,830
5.38%, 06/15/29 (Call 06/15/24)^(a)		14,535		12,611,874
5.63%, 04/01/25 (Call 01/01/25)		7,953		7,926,408
Series W, 6.75%, 12/01/23^(b)		9,772		10,211,496
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(b)		14,578		15,325,032
Nokia OYJ, 4.38%, 06/12/27^(b)		7,468		7,725,751
Sprint Communications Inc., 6.00%, 11/15/22^(b)		344		353,890
Sprint Corp.
7.13%, 06/15/24		36,326		39,325,732
7.63%, 02/15/25 (Call 11/15/24)		21,662		24,017,743
7.63%, 03/01/26 (Call 11/01/25)^(b)		22,726		25,934,911
7.88%, 09/15/23^(b)		62,829		67,541,175
Switch Ltd.
3.75%, 09/15/28 (Call 09/15/23)^(a)(b)		11,183		10,602,276
4.13%, 06/15/29 (Call 06/15/24)^(a)(b)		6,574		6,299,536
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		21,936		22,518,857
Telesat Canada/Telesat LLC
4.88%, 06/01/27 (Call 12/01/22)^(a)(b)		6,150		4,366,500
5.63%, 12/06/26 (Call 12/06/23)^(a)(b)		7,310		5,419,167
6.50%, 10/15/27 (Call 10/15/22)^(a)(b)		7,465		3,743,144
T-Mobile USA Inc.
2.25%, 02/15/26 (Call 02/15/23)^(b)		14,972		14,447,980
2.25%, 02/15/26 (Call 02/15/23)^(a)		12,315		11,883,975


Security	Par (000)		Value


Telecommunications (continued)
2.63%, 04/15/26 (Call 04/15/23)^(b)	$	17,024	$	16,669,901
2.63%, 02/15/29 (Call 02/15/24)^(b)		13,730		12,960,752
2.88%, 02/15/31 (Call 02/15/26)^(b)		15,311		14,376,744
3.38%, 04/15/29 (Call 04/15/24)^(b)		17,879		17,496,389
3.38%, 04/15/29 (Call 04/15/24)^(a)		16,021		15,678,151
3.50%, 04/15/31 (Call 04/15/26)^(b)		19,915		19,622,823
3.50%, 04/15/31 (Call 04/15/26)^(a)		16,369		16,128,621
4.75%, 02/01/28 (Call 02/01/23)^(b)		25,383		26,265,077
5.38%, 04/15/27 (Call 04/15/22)^(b)		7,235		7,464,233
ViaSat Inc.
5.63%, 09/15/25 (Call 09/15/22)^(a)(b)		10,504		10,045,343
5.63%, 04/15/27 (Call 04/15/22)^(a)(b)		8,584		8,569,407
6.50%, 07/15/28 (Call 07/15/23)^(a)(b)		5,977		5,513,783
Vmed O2 UK Financing I PLC
4.25%, 01/31/31 (Call 01/31/26)^(a)		18,490		17,095,932
4.75%, 07/15/31 (Call 07/15/26)^(a)		20,821		19,961,093
Vodafone Group PLC
3.25%, 06/04/81 (Call 06/04/26)^(c)		7,878		7,297,391
4.13%, 06/04/81 (Call 03/04/31)^(c)		14,427		13,132,260
7.00%, 04/04/79 (Call 01/04/29)^(b)(c)		29,640		32,791,633
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)^(a)(b)		20,308		20,498,895
Zayo Group Holdings Inc.
4.00%, 03/01/27 (Call 03/01/22)^(a)(b)		22,106		21,016,174
6.13%, 03/01/28 (Call 03/01/23)^(a)(b)		16,345		15,188,264


				1,191,039,531

Toys, Games & Hobbies — 0.2%
Mattel Inc.
3.38%, 04/01/26 (Call 04/01/23)^(a)(b)		8,086		8,030,207
3.75%, 04/01/29 (Call 04/01/24)^(a)(b)		9,431		9,415,297
5.88%, 12/15/27 (Call 12/15/22)^(a)(b)		8,673		9,190,381


				26,635,885

Transportation — 0.1%
XPO Logistics Inc., 6.25%, 05/01/25 (Call 05/01/22)^(a)		17,358		18,002,329


Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(a)(b)(c)		7,552		7,886,805
Fortress Transportation and Infrastructure Investors LLC 5.50%, 05/01/28 (Call 05/01/24)^(a)		16,284		15,545,271


Security	Par/ Shares (000)		Value


Trucking & Leasing (continued)
6.50%, 10/01/25 (Call 10/01/22)^(a)(b)	$	10,276	$	10,423,718
9.75%, 08/01/27 (Call 08/01/23)^(a)(b)		6,024		6,600,798


				40,456,592


Total Corporate Bonds & Notes — 98.0% (Cost: $17,210,885,845)				16,340,616,540


Short-Term Investments

Money Market Funds — 18.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%^(f)(g)(h)		2,859,403		2,859,974,472
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%^(f)(g)		131,460		131,460,000


				2,991,434,472


Total Short-Term Investments — 18.0% (Cost: $2,991,228,911)				2,991,434,472


Total Investments in Securities — 116.0% (Cost: $20,202,114,756)				19,332,051,012

Other Assets, Less Liabilities — (16.0)%				(2,662,277,366	)


Net Assets — 100.0%			$	16,669,773,646

^(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.

^(e)	This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(f)	Affiliate of the Fund.

^(g)	Annualized 7-day yield as of period end.

^(h)	All or a portion of this security was purchased with the cash collateral from loaned securities.

Investments in issuers considered to be affiliate(s) of the Fund during the year ended February 28, 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)	$	4,271	$	4,107,246
Omnicom Group Inc./Omnicom Capital Inc., 3.60%, 04/15/26 (Call 01/15/26)^(a)		14,812		15,459,038


				19,566,284

Aerospace & Defense — 2.4%
Boeing Co. (The)
2.20%, 02/04/26 (Call 02/04/23)		19,700		19,137,786
2.70%, 02/01/27 (Call 12/01/26)^(a)		11,365		11,208,881
2.75%, 02/01/26 (Call 01/01/26)^(a)		9,725		9,727,170
2.95%, 02/01/30 (Call 11/01/29)^(a)		10,036		9,665,722
3.20%, 03/01/29 (Call 12/01/28)^(a)		9,822		9,711,432
3.25%, 02/01/28 (Call 12/01/27)		9,278		9,300,914
3.25%, 02/01/35 (Call 11/01/34)		7,630		7,113,657
3.60%, 05/01/34 (Call 02/01/34)		9,891		9,579,833
3.63%, 02/01/31 (Call 11/01/30)^(a)		15,267		15,381,354
3.75%, 02/01/50 (Call 08/01/49)^(a)		12,620		11,723,808
3.90%, 05/01/49 (Call 11/01/48)^(a)		8,918		8,302,717
3.95%, 08/01/59 (Call 02/01/59)		10,500		9,426,033
4.88%, 05/01/25 (Call 04/01/25)		30,215		32,101,214
5.04%, 05/01/27 (Call 03/01/27)		21,286		23,106,660
5.15%, 05/01/30 (Call 02/01/30)^(a)		41,639		45,928,192
5.71%, 05/01/40 (Call 11/01/39)		28,855		33,534,086
5.81%, 05/01/50 (Call 11/01/49)		52,683		62,635,061
5.93%, 05/01/60 (Call 11/01/59)		33,005		39,144,511
General Dynamics Corp.
3.25%, 04/01/25 (Call 03/01/25)		5,037		5,197,497
3.50%, 05/15/25 (Call 03/15/25)^(a)		6,435		6,673,729
3.50%, 04/01/27 (Call 02/01/27)^(a)		8,947		9,418,140
3.63%, 04/01/30 (Call 01/01/30)^(a)		9,250		9,836,132
3.75%, 05/15/28 (Call 02/15/28)^(a)		13,250		14,081,797
4.25%, 04/01/40 (Call 10/01/39)		8,324		9,334,728
4.25%, 04/01/50 (Call 10/01/49)^(a)		7,238		8,365,035
L3Harris Technologies Inc., 4.40%, 06/15/28 (Call 03/15/28)		20,698		22,369,976
Lockheed Martin Corp.
2.80%, 06/15/50 (Call 12/15/49)		7,909		7,145,088
2.90%, 03/01/25 (Call 12/01/24)		4,965		5,082,463
3.55%, 01/15/26 (Call 10/15/25)		19,620		20,655,767
3.80%, 03/01/45 (Call 09/01/44)^(a)		11,534		12,074,895
4.07%, 12/15/42^(a)		15,303		16,706,394
4.09%, 09/15/52 (Call 03/15/52)		14,549		16,150,368
4.70%, 05/15/46 (Call 11/15/45)^(a)		13,641		16,090,723
Northrop Grumman Corp.
3.20%, 02/01/27 (Call 11/01/26)^(a)		5,806		5,961,106
3.25%, 01/15/28 (Call 10/15/27)^(a)		20,640		21,218,244
4.03%, 10/15/47 (Call 04/15/47)		21,533		22,703,008
4.40%, 05/01/30 (Call 02/01/30)^(a)		8,076		8,906,550
4.75%, 06/01/43		10,897		12,573,279
5.25%, 05/01/50 (Call 11/01/49)^(a)		9,198		11,670,088
Raytheon Technologies Corp.
1.90%, 09/01/31 (Call 06/01/31)		10,598		9,674,397
2.25%, 07/01/30 (Call 04/01/30)^(a)		9,733		9,250,973
2.38%, 03/15/32 (Call 12/15/31)		16,266		15,406,976
2.82%, 09/01/51 (Call 03/01/51)		8,871		7,683,593
3.03%, 03/15/52 (Call 09/15/51)^(a)		14,658		13,196,882
3.13%, 05/04/27 (Call 02/04/27)^(a)		10,342		10,674,908
3.13%, 07/01/50 (Call 01/01/50)		9,584		8,814,989


Security	Par (000)		Value

Aerospace & Defense (continued)
3.50%, 03/15/27 (Call 12/15/26)	$	10,655	$	11,141,784
3.75%, 11/01/46 (Call 05/01/46)		12,087		12,247,634
3.95%, 08/16/25 (Call 06/16/25)		12,294		12,956,826
4.13%, 11/16/28 (Call 08/16/28)		25,677		27,736,154
4.15%, 05/15/45 (Call 11/16/44)		9,568		10,238,297
4.35%, 04/15/47 (Call 10/15/46)		10,313		11,421,118
4.45%, 11/16/38 (Call 05/16/38)		7,065		7,882,933
4.50%, 06/01/42		31,314		35,015,077
4.63%, 11/16/48 (Call 05/16/48)		15,702		18,059,842
Teledyne Technologies Inc., 2.75%, 04/01/31 (Call 01/01/31)^(a)		13,559		12,991,834


				863,338,255

Agriculture — 1.6%
Altria Group Inc.
2.35%, 05/06/25 (Call 04/06/25)^(a)		6,347		6,332,690
2.45%, 02/04/32 (Call 11/04/31)^(a)		18,143		16,177,819
3.40%, 05/06/30 (Call 02/06/30)		8,240		8,110,614
3.40%, 02/04/41 (Call 08/04/40)		14,292		11,818,947
3.70%, 02/04/51 (Call 08/04/50)		13,413		10,899,004
3.88%, 09/16/46 (Call 03/16/46)		15,814		13,593,023
4.00%, 02/04/61 (Call 08/04/60)^(a)		11,126		9,255,044
4.25%, 08/09/42		7,260		6,625,308
4.40%, 02/14/26 (Call 12/14/25)^(a)		9,250		9,818,686
4.80%, 02/14/29 (Call 11/14/28)^(a)		17,105		18,497,542
5.38%, 01/31/44^(a)		17,648		18,370,696
5.80%, 02/14/39 (Call 08/14/38)		18,830		20,624,081
5.95%, 02/14/49 (Call 08/14/48)^(a)		23,622		26,372,595
Archer-Daniels-Midland Co.
2.50%, 08/11/26 (Call 05/11/26)^(a)		12,145		12,320,654
2.70%, 09/15/51 (Call 03/15/51)^(a)		8,722		7,905,928
3.25%, 03/27/30 (Call 12/27/29)^(a)		10,170		10,548,603
BAT Capital Corp.
2.26%, 03/25/28 (Call 01/25/28)^(a)		17,619		16,415,163
2.73%, 03/25/31 (Call 12/25/30)^(a)		12,332		11,307,594
3.22%, 09/06/26 (Call 07/06/26)^(a)		10,729		10,717,801
3.56%, 08/15/27 (Call 05/15/27)^(a)		34,774		35,038,171
3.73%, 09/25/40 (Call 03/25/40)		8,539		7,340,937
3.98%, 09/25/50 (Call 03/25/50)		6,585		5,647,600
4.39%, 08/15/37 (Call 02/15/37)		26,878		25,788,807
4.54%, 08/15/47 (Call 02/15/47)		24,663		22,783,166
4.70%, 04/02/27 (Call 02/02/27)		9,532		10,089,303
4.76%, 09/06/49 (Call 03/06/49)		10,102		9,628,039
4.91%, 04/02/30 (Call 01/02/30)^(a)		10,630		11,357,544
BAT International Finance PLC, 1.67%, 03/25/26 (Call 02/25/26)^(a)		16,709		15,874,370
Bunge Ltd. Finance Corp., 2.75%, 05/14/31 (Call 02/14/31)^(a)		11,549		10,989,580
Philip Morris International Inc.
0.88%, 05/01/26 (Call 04/01/26)		5,613		5,271,924
1.50%, 05/01/25 (Call 04/01/25)		5,281		5,151,432
1.75%, 11/01/30 (Call 08/01/30)		6,755		6,082,368
2.10%, 05/01/30 (Call 02/01/30)^(a)		5,766		5,415,484
2.75%, 02/25/26 (Call 11/25/25)^(a)		7,850		7,954,817
3.38%, 08/11/25 (Call 05/11/25)^(a)		8,512		8,799,602
3.38%, 08/15/29 (Call 05/15/29)^(a)		9,977		10,262,157
3.88%, 08/21/42^(a)		9,053		8,882,319
4.13%, 03/04/43		7,181		7,196,805
4.25%, 11/10/44^(a)		10,294		10,625,063
4.38%, 11/15/41		6,702		6,933,816
4.88%, 11/15/43		9,427		10,427,135


Security	Par (000)		Value

Agriculture (continued)
6.38%, 05/16/38	$	14,833	$	19,188,243
Reynolds American Inc.
4.45%, 06/12/25 (Call 03/12/25)^(a)		23,997		25,099,389
5.70%, 08/15/35 (Call 02/15/35)		8,360		9,222,387
5.85%, 08/15/45 (Call 02/15/45)		20,662		22,323,219


				569,085,469

Airlines — 0.1%
Southwest Airlines Co.
5.13%, 06/15/27 (Call 04/15/27)^(a)		21,097		23,374,784
5.25%, 05/04/25 (Call 04/04/25)^(a)		11,088		11,954,620


				35,329,404

Apparel — 0.3%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		13,338		13,491,747
2.40%, 03/27/25 (Call 02/27/25)^(a)		4,126		4,180,726
2.75%, 03/27/27 (Call 01/27/27)^(a)		11,311		11,581,447
2.85%, 03/27/30 (Call 12/27/29)^(a)		10,854		11,023,774
3.25%, 03/27/40 (Call 09/27/39)^(a)		9,671		9,675,106
3.38%, 03/27/50 (Call 09/27/49)^(a)		14,342		14,614,118
3.88%, 11/01/45 (Call 05/01/45)		11,375		12,315,821
VF Corp.
2.40%, 04/23/25 (Call 03/23/25)		4,456		4,464,804
2.95%, 04/23/30 (Call 01/23/30)^(a)		9,965		9,820,568


				91,168,111

Auto Manufacturers — 1.3%
American Honda Finance Corp.
1.00%, 09/10/25		8,322		7,968,463
1.20%, 07/08/25		6,810		6,580,839
1.30%, 09/09/26^(a)		7,197		6,893,898
2.00%, 03/24/28		7,823		7,543,848
Aptiv PLC/Aptiv Corp., 3.25%, 03/01/32 (Call 12/01/31)		11,178		11,208,818
Cummins Inc., 1.50%, 09/01/30 (Call 06/01/30)^(a)		8,139		7,302,039
Daimler Finance North America LLC, 8.50%, 01/18/31		13,279		18,809,706
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)^(a)		10,439		10,991,388
5.00%, 10/01/28 (Call 07/01/28)^(a)		8,970		9,790,635
5.00%, 04/01/35^(a)		8,580		9,274,461
5.15%, 04/01/38 (Call 10/01/37)^(a)		7,229		7,832,838
5.20%, 04/01/45		12,024		13,025,563
5.40%, 04/01/48 (Call 10/01/47)^(a)		8,047		8,961,852
5.95%, 04/01/49 (Call 10/01/48)^(a)		10,542		12,600,483
6.13%, 10/01/25 (Call 09/01/25)^(a)		21,235		23,468,034
6.25%, 10/02/43		13,902		16,899,634
6.60%, 04/01/36 (Call 10/01/35)		9,758		12,086,707
6.75%, 04/01/46 (Call 10/01/45)		7,866		10,019,044
6.80%, 10/01/27 (Call 08/01/27)^(a)		8,603		10,118,823
General Motors Financial Co. Inc.
1.25%, 01/08/26 (Call 12/08/25)		16,419		15,459,234
1.50%, 06/10/26 (Call 05/10/26)^(a)		16,754		15,854,166
2.35%, 02/26/27 (Call 01/26/27)		10,802		10,464,677
2.35%, 01/08/31 (Call 10/08/30)^(a)		12,226		11,081,016
2.40%, 04/10/28 (Call 02/10/28)^(a)		10,497		10,009,600
2.40%, 10/15/28 (Call 08/15/28)		13,910		13,164,227
2.70%, 08/20/27 (Call 06/20/27)		5,283		5,172,863
2.70%, 06/10/31 (Call 03/10/31)^(a)		11,215		10,387,673
2.75%, 06/20/25 (Call 05/20/25)		8,957		8,949,082
3.10%, 01/12/32 (Call 10/12/31)		6,246		5,960,003
3.60%, 06/21/30 (Call 03/21/30)^(a)		12,216		12,250,013
4.00%, 10/06/26 (Call 07/06/26)^(a)		11,081		11,550,236


Security	Par (000)		Value

Auto Manufacturers (continued)
4.30%, 07/13/25 (Call 04/13/25)	$	5,584	$	5,830,862
4.35%, 04/09/25 (Call 02/09/25)^(a)		8,633		9,027,684
4.35%, 01/17/27 (Call 10/17/26)		9,837		10,356,349
5.25%, 03/01/26 (Call 12/01/25)		12,366		13,367,973
Toyota Motor Corp., 1.34%, 03/25/26 (Call 02/25/26)		21,922		21,146,444
Toyota Motor Credit Corp.
0.80%, 10/16/25^(a)		17,022		16,181,644
1.13%, 06/18/26^(a)		10,578		10,110,097
1.90%, 01/13/27		15,924		15,643,986
1.90%, 04/06/28^(a)		4,796		4,616,631
2.15%, 02/13/30		5,807		5,583,813
3.00%, 04/01/25		9,105		9,324,931
3.20%, 01/11/27		8,752		9,106,823
3.38%, 04/01/30		8,863		9,280,051


				481,257,151

Auto Parts & Equipment — 0.1%
Aptiv PLC, 3.10%, 12/01/51 (Call 06/01/51)		10,531		8,887,193
Aptiv PLC/Aptiv Corp., 4.15%, 05/01/52 (Call 11/01/51)		10,727		10,721,421
BorgWarner Inc., 2.65%, 07/01/27 (Call 05/01/27)^(a)		12,636		12,586,553
Magna International Inc., 2.45%, 06/15/30 (Call 03/15/30)		7,217		6,941,844


				39,137,011

Banks — 23.4%
Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25^(a)		828		873,707
Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25^(a)		6,813		6,473,633
Banco Santander SA
1.72%, 09/14/27 (Call 09/14/26)^(a)(b)		17,283		16,263,821
1.85%, 03/25/26		11,657		11,181,657
2.75%, 05/28/25		7,883		7,886,762
2.75%, 12/03/30^(a)		15,604		14,190,122
2.96%, 03/25/31^(a)		3,375		3,239,970
3.31%, 06/27/29		12,271		12,429,936
3.49%, 05/28/30^(a)		7,194		7,229,376
3.80%, 02/23/28		11,431		11,757,817
4.25%, 04/11/27		8,318		8,773,870
4.38%, 04/12/28		19,608		20,824,908
Bank of America Corp.
1.20%, 10/24/26 (Call 10/24/25), (SOFR + 1.010%)^(b)		16,609		15,700,082
1.32%, 06/19/26 (Call 06/19/25), (SOFR + 1.150%)^(b)		24,371		23,278,229
1.73%, 07/22/27 (Call 07/22/26), (SOFR + 0.960%)^(b)		53,266		50,755,014
1.90%, 07/23/31 (Call 07/23/30), (SOFR + 1.530%)^(b)		20,672		18,708,034
1.92%, 10/24/31 (Call 10/24/30), (SOFR + 1.370%)^(b)		20,735		18,764,980
2.09%, 06/14/29 (Call 06/14/28), (SOFR + 1.060%)^(b)		24,569		23,308,070
2.30%, 07/21/32 (Call 07/21/31), (SOFR + 1.220%)^(b)		30,431		28,174,490
2.50%, 02/13/31 (Call 02/13/30), (3 mo. LIBOR US + 0.990%)^(b)		28,082		26,712,410
2.55%, 02/04/28 (Call 02/04/27), (SOFR + 1.050%)^(b)		27,905		27,441,716
2.57%, 10/20/32 (Call 10/20/31), (SOFR + 1.210%)^(b)		27,770		26,220,987


Security	Par (000)		Value

Banks (continued)
2.59%, 04/29/31 (Call 04/29/30), (SOFR + 2.150%)^(b)	$	22,188	$	21,213,605
2.68%, 06/19/41 (Call 06/19/40), (SOFR + 1.930%)^(b)		39,302		34,495,633
2.69%, 04/22/32 (Call 04/22/31), (SOFR + 1.880%)^(b)		41,726		39,994,292
2.83%, 10/24/51 (Call 10/24/50), (SOFR + 3.150%)^(a)(b)		6,117		5,321,814
2.88%, 10/22/30 (Call 10/22/29), (3 mo. LIBOR US + 1.190%)^(b)		16,179		15,857,010
2.97%, 02/04/33 (Call 02/04/32), (SOFR + 1.330%)^(b)		35,565		34,835,420
2.97%, 07/21/52 (Call 07/21/51), (SOFR + 1.560%)^(b)		15,956		14,205,113
3.19%, 07/23/30 (Call 07/23/29), (3 mo. LIBOR US + 1.180%)^(b)		18,094		18,116,614
3.25%, 10/21/27 (Call 10/21/26)^(a)		18,884		19,283,242
3.31%, 04/22/42 (Call 04/22/41), (SOFR + 1.320%)^(a)(b)		29,721		28,433,130
3.42%, 12/20/28 (Call 12/20/27), (3 mo. LIBOR US + 1.040%)^(b)		54,346		55,476,652
3.50%, 04/19/26^(a)		19,203		19,899,479
3.56%, 04/23/27 (Call 04/23/26), (3 mo. LIBOR US + 1.060%)^(a)(b)		22,954		23,567,338
3.59%, 07/21/28 (Call 07/21/27), (3 mo. LIBOR US + 1.370%)^(a)(b)		14,757		15,211,012
3.71%, 04/24/28 (Call 04/24/27), (3 mo. LIBOR US + 1.512%)^(b)		14,110		14,589,445
3.82%, 01/20/28 (Call 01/20/27), (3 mo. LIBOR US + 1.575%)^(a)(b)		18,131		18,880,900
3.88%, 08/01/25^(a)		15,361		16,084,781
3.95%, 01/23/49 (Call 01/23/48), (3 mo. LIBOR US + 1.190%)^(b)		12,179		12,702,360
3.97%, 03/05/29 (Call 03/05/28), (3 mo. LIBOR US + 1.070%)^(a)(b)		18,149		19,008,087
3.97%, 02/07/30 (Call 02/07/29), (3 mo. LIBOR US + 1.210%)^(a)(b)		24,653		25,847,169
4.08%, 04/23/40 (Call 04/23/39), (3 mo. LIBOR US + 1.320%)^(b)		11,622		12,301,322
4.08%, 03/20/51 (Call 03/20/50), (3 mo. LIBOR US + 1.320%)^(b)		45,083		48,234,987
4.24%, 04/24/38 (Call 04/24/37), (3 mo. LIBOR US + 1.814%)^(a)(b)		15,127		16,434,616
4.25%, 10/22/26^(a)		14,945		15,867,807
4.27%, 07/23/29 (Call 07/23/28), (3 mo. LIBOR US + 1.310%)^(b)		22,070		23,520,458
4.33%, 03/15/50 (Call 03/15/49), (3 mo. LIBOR US + 1.520%)^(a)(b)		22,888		25,373,332
4.44%, 01/20/48 (Call 01/20/47), (3 mo. LIBOR US + 1.990%)^(a)(b)		15,216		17,079,009
4.45%, 03/03/26^(a)		15,903		16,887,462
5.00%, 01/21/44^(a)		16,666		19,557,946
5.88%, 02/07/42		13,144		17,007,822
6.11%, 01/29/37^(a)		14,592		18,297,987
7.75%, 05/14/38^(a)		13,093		18,858,283
Series L, 3.95%, 04/21/25^(a)		12,445		12,904,179
Series L, 4.18%, 11/25/27 (Call 11/25/26)^(a)		14,889		15,641,783
Series N, 1.66%, 03/11/27 (Call 03/11/26), (SOFR + 0.910%)^(b)		22,615		21,612,642


Security	Par (000)		Value

Banks (continued)
Series N, 2.65%, 03/11/32 (Call 03/11/31), (SOFR + 1.220%)^(b)	$	19,885	$	18,995,272
Series N, 3.48%, 03/13/52 (Call 03/13/51), (SOFR + 1.650%)^(b)		8,973		8,791,061
Bank of America N.A., 6.00%, 10/15/36^(a)		9,474		11,965,367
Bank of Montreal
0.95%, 01/22/27 (Call 01/22/26), (SOFR + 0.603%)^(a)(b)		6,690		6,310,008
1.25%, 09/15/26^(a)		18,139		17,192,737
1.85%, 05/01/25^(a)		11,287		11,156,189
Bank of New York Mellon Corp. (The)
1.60%, 04/24/25 (Call 03/24/25)		5,955		5,864,830
2.05%, 01/26/27 (Call 12/26/26)^(a)		10,111		10,000,314
2.45%, 08/17/26 (Call 05/17/26)		6,111		6,181,598
2.80%, 05/04/26 (Call 02/04/26)^(a)		7,971		8,142,429
3.25%, 05/16/27 (Call 02/16/27)^(a)		3,807		3,960,150
3.30%, 08/23/29 (Call 05/23/29)		4,484		4,630,523
3.40%, 01/29/28 (Call 10/29/27)		8,331		8,712,448
3.85%, 04/28/28^(a)		12,481		13,346,605
Bank of Nova Scotia (The)
1.05%, 03/02/26^(a)		16,304		15,425,198
1.30%, 06/11/25^(a)		8,346		8,057,348
1.30%, 09/15/26		12,042		11,423,476
1.35%, 06/24/26^(a)		10,208		9,729,080
1.95%, 02/02/27		10,608		10,293,081
2.45%, 02/02/32		8,125		7,705,592
2.70%, 08/03/26^(a)		16,558		16,747,882
4.50%, 12/16/25		14,117		14,998,842
Barclays PLC
2.28%, 11/24/27 (Call 11/24/26)^(b)		15,379		14,832,329
2.65%, 06/24/31 (Call 06/24/30), (SOFR + 1.900%)^(b)		8,611		8,111,225
2.67%, 03/10/32 (Call 03/10/31)^(a)(b)		9,229		8,660,887
2.85%, 05/07/26 (Call 05/07/25), (SOFR + 2.714%)^(a)(b)		20,485		20,465,345
2.89%, 11/24/32 (Call 11/24/31)^(a)(b)		12,879		12,215,216
3.33%, 11/24/42 (Call 11/24/41)^(b)		9,761		8,932,655
3.65%, 03/16/25^(a)		11,391		11,684,949
4.34%, 01/10/28 (Call 01/10/27)^(a)		14,970		15,808,492
4.38%, 01/12/26		27,664		29,147,894
4.84%, 05/09/28 (Call 05/07/27)^(a)		18,814		19,905,711
4.95%, 01/10/47		14,809		16,652,426
4.97%, 05/16/29 (Call 05/16/28), (3 mo. LIBOR US + 1.902%)^(b)		16,208		17,561,624
5.20%, 05/12/26^(a)		23,284		25,069,801
5.25%, 08/17/45^(a)		14,536		17,031,773
Canadian Imperial Bank of Commerce, 1.25%, 06/22/26		12,858		12,164,373
Citigroup Inc.
1.12%, 01/28/27 (Call 01/28/26), (SOFR + 0.765%)^(b)		25,708		24,185,248
1.46%, 06/09/27 (Call 06/09/26), (SOFR + 0.770%)^(b)		24,515		23,215,543
2.52%, 11/03/32 (Call 11/03/31), (SOFR + 1.177%)^(b)		21,240		19,990,126
2.56%, 05/01/32 (Call 05/01/31), (SOFR + 1.167%)^(b)		30,547		28,954,457
2.57%, 06/03/31 (Call 06/03/30), (SOFR + 2.107%)^(b)		32,729		31,265,114


Security	Par (000)		Value

Banks (continued)
2.67%, 01/29/31 (Call 01/29/30), (SOFR + 1.146%)^(a)(b)	$	21,995	$	21,282,105
2.90%, 11/03/42 (Call 11/03/41), (SOFR + 1.379%)^(b)		14,176		12,725,099
2.98%, 11/05/30 (Call 11/05/29), (SOFR + 1.422%)^(b)		21,345		21,059,880
3.06%, 01/25/33 (Call 01/25/32), (SOFR + 1.351%)^(b)		30,522		30,065,919
3.07%, 02/24/28 (Call 02/24/27), (SOFR + 1.280%)^(b)		6,167		6,211,239
3.11%, 04/08/26 (Call 04/08/25), (SOFR + 2.842%)^(b)		36,258		36,731,323
3.20%, 10/21/26 (Call 07/21/26)^(a)		30,078		30,653,473
3.30%, 04/27/25^(a)		8,398		8,601,033
3.40%, 05/01/26^(a)		20,777		21,392,049
3.52%, 10/27/28 (Call 10/27/27), (3 mo. LIBOR US + 1.151%)^(a)(b)		20,135		20,702,539
3.67%, 07/24/28 (Call 07/24/27), (3 mo. LIBOR US + 1.390%)^(a)(b)		22,520		23,285,689
3.70%, 01/12/26		22,774		23,803,774
3.88%, 03/26/25^(a)		4,651		4,810,934
3.88%, 01/24/39 (Call 01/24/38), (3 mo. LIBOR US + 1.168%)^(a)(b)		13,739		14,411,883
3.89%, 01/10/28 (Call 01/10/27), (3 mo. LIBOR US + 1.563%)^(a)(b)		26,020		27,164,976
3.98%, 03/20/30 (Call 03/20/29), (3 mo. LIBOR US + 1.338%)^(b)		21,810		22,960,144
4.08%, 04/23/29 (Call 04/23/28), (3 mo. LIBOR US + 1.192%)^(a)(b)		20,291		21,400,425
4.13%, 07/25/28^(a)		21,928		23,071,933
4.28%, 04/24/48 (Call 04/24/47), (3 mo. LIBOR US + 1.839%)^(a)(b)		9,840		10,831,124
4.30%, 11/20/26^(a)		9,204		9,787,881
4.40%, 06/10/25		21,495		22,559,002
4.41%, 03/31/31 (Call 03/31/30), (SOFR + 3.914%)^(b)		39,146		42,332,375
4.45%, 09/29/27		35,345		37,729,625
4.60%, 03/09/26^(a)		16,092		17,165,847
4.65%, 07/30/45^(a)		11,103		12,626,675
4.65%, 07/23/48 (Call 06/23/48)		24,758		28,854,706
4.75%, 05/18/46		18,109		20,133,749
5.30%, 05/06/44^(a)		6,016		7,124,226
5.32%, 03/26/41 (Call 03/26/40), (SOFR + 4.548%)^(a)(b)		13,220		16,007,767
5.50%, 09/13/25		13,988		15,255,034
5.88%, 01/30/42		11,414		14,661,312
6.63%, 06/15/32		11,441		14,365,403
6.68%, 09/13/43^(a)		7,488		10,282,522
8.13%, 07/15/39^(a)		20,063		31,186,509
Citizens Bank N.A./Providence RI, 2.25%, 04/28/25 (Call 03/28/25)		40		39,856
Citizens Financial Group Inc., 3.25%, 04/30/30 (Call 01/30/30)^(a)		7,792		7,893,375
Cooperatieve Rabobank U.A.
3.75%, 07/21/26		23,639		24,395,817
4.38%, 08/04/25		9,323		9,764,392
5.25%, 05/24/41^(a)		9,930		12,799,216
5.25%, 08/04/45		12,731		15,281,871
5.75%, 12/01/43^(a)		12,934		16,417,117


Security	Par (000)		Value

Banks (continued)
Cooperatieve Rabobank U.A./New York, 3.38%, 05/21/25	$	7,711	$	8,005,129
Credit Suisse AG/New York NY
1.25%, 08/07/26^(a)		24,706		23,232,739
2.95%, 04/09/25^(a)		8,523		8,646,422
Credit Suisse Group AG
3.75%, 03/26/25^(a)		12,617		12,926,026
4.55%, 04/17/26^(a)		28,939		30,526,293
4.88%, 05/15/45^(a)		17,389		19,048,827
Deutsche Bank AG/New York NY
1.69%, 03/19/26^(a)		7,512		7,254,829
2.13%, 11/24/26 (Call 11/24/25), (SOFR + 1.870%)^(b)		15,637		15,041,168
2.31%, 11/16/27 (Call 11/16/26), (SOFR + 1.219%)^(b)		19,531		18,652,209
2.55%, 01/07/28 (Call 01/07/27), (SOFR + 1.318%)^(a)(b)		22,023		21,142,851
3.04%, 05/28/32 (Call 05/28/31), (SOFR + 1.718%)^(b)		15,282		14,364,131
3.55%, 09/18/31 (Call 09/18/30), (SOFR + 3.043%)^(a)(b)		12,727		12,542,007
Discover Bank
3.45%, 07/27/26 (Call 04/27/26)^(a)		10,325		10,603,738
4.65%, 09/13/28 (Call 06/13/28)^(a)		12,489		13,530,135
Fifth Third Bancorp.
2.55%, 05/05/27 (Call 04/05/27)		4,359		4,340,376
8.25%, 03/01/38^(a)		10,511		15,824,910
Fifth Third Bank NA
3.85%, 03/15/26 (Call 02/15/26)^(a)		10,707		11,205,452
3.95%, 07/28/25 (Call 06/28/25)		5,806		6,152,129
Goldman Sachs Group Inc. (The)
1.09%, 12/09/26 (Call 12/09/25), (SOFR + 0.789%)^(b)		22,662		21,387,355
1.43%, 03/09/27 (Call 03/09/26), (SOFR + 0.798%)^(b)		30,981		29,275,298
1.54%, 09/10/27 (Call 09/10/26), (SOFR + 0.818%)^(a)(b)		25,627		24,135,496
1.95%, 10/21/27 (Call 10/21/26), (SOFR + 0.913%)^(b)		40,720		38,802,996
1.99%, 01/27/32 (Call 01/27/31), (SOFR + 1.090%)^(b)		22,677		20,453,584
2.38%, 07/21/32 (Call 07/21/31), (SOFR + 1.248%)^(b)		38,388		35,523,292
2.60%, 02/07/30 (Call 11/07/29)		19,625		18,852,733
2.62%, 04/22/32 (Call 04/22/31), (SOFR + 1.281%)^(b)		35,403		33,489,146
2.64%, 02/24/28 (Call 02/24/27), (SOFR + 1.114%)^(b)		31,637		31,222,422
2.65%, 10/21/32 (Call 10/21/31), (SOFR + 1.264%)^(a)(b)		32,201		30,457,309
2.91%, 07/21/42 (Call 07/21/41), (SOFR + 1.472%)^(b)		14,033		12,478,993
3.10%, 02/24/33 (Call 02/24/32), (SOFR + 1.410%)^(b)		42,350		41,619,742
3.21%, 04/22/42 (Call 04/22/41), (SOFR + 1.513%)^(b)		27,162		25,274,735
3.44%, 02/24/43 (Call 02/24/42), (SOFR + 1.632%)^(b)		15,036		14,467,496
3.50%, 04/01/25 (Call 03/01/25)		25,606		26,310,173
3.50%, 11/16/26 (Call 11/16/25)^(a)		21,203		21,700,641


Security	Par (000)		Value

Banks (continued)
3.69%, 06/05/28 (Call 06/05/27), (3 mo. LIBOR US + 1.510%)^(a)(b)	$	22,194	$	22,969,279
3.75%, 05/22/25 (Call 02/22/25)		20,572		21,277,906
3.75%, 02/25/26 (Call 11/25/25)		16,731		17,406,126
3.80%, 03/15/30 (Call 12/15/29)^(a)		20,694		21,547,739
3.81%, 04/23/29 (Call 04/23/28), (3 mo. LIBOR US + 1.158%)^(b)		23,995		24,935,304
3.85%, 01/26/27 (Call 01/26/26)		27,376		28,510,574
4.02%, 10/31/38 (Call 10/31/37), (3 mo. LIBOR US + 1.373%)^(b)		18,171		19,075,843
4.22%, 05/01/29 (Call 05/01/28), (3 mo. LIBOR US + 1.301%)^(a)(b)		32,181		34,134,860
4.25%, 10/21/25^(a)		16,145		16,948,399
4.41%, 04/23/39 (Call 04/23/38), (3 mo. LIBOR US + 1.430%)^(b)		18,070		19,619,446
4.75%, 10/21/45 (Call 04/21/45)		16,663		19,004,705
4.80%, 07/08/44 (Call 01/08/44)^(a)		18,717		21,398,229
5.15%, 05/22/45^(a)		20,403		24,030,270
5.95%, 01/15/27		9,343		10,592,381
6.13%, 02/15/33^(a)		11,937		14,860,910
6.25%, 02/01/41^(a)		25,713		33,850,918
6.75%, 10/01/37		54,957		72,207,530
HSBC Holdings PLC
1.59%, 05/24/27 (Call 05/24/26), (SOFR + 1.290%)^(b)		21,994		20,729,539
1.65%, 04/18/26 (Call 04/18/25), (SOFR + 1.538%)^(b)		17,734		17,089,580
2.01%, 09/22/28 (Call 09/22/27), (SOFR + 1.732%)^(a)(b)		16,033		15,046,847
2.10%, 06/04/26 (Call 06/04/25), (SOFR + 1.929%)^(a)(b)		19,585		19,090,479
2.21%, 08/17/29 (Call 08/17/28), (SOFR + 1.285%)^(a)(b)		16,523		15,408,228
2.25%, 11/22/27 (Call 11/22/26), (SOFR + 1.100%)^(a)(b)		17,112		16,463,921
2.36%, 08/18/31 (Call 08/18/30), (SOFR + 1.947%)^(a)(b)		13,449		12,338,945
2.80%, 05/24/32 (Call 05/24/31), (SOFR + 1.187%)^(b)		32,999		31,126,676
2.85%, 06/04/31 (Call 06/04/30), (SOFR + 2.387%)^(b)		12,756		12,180,475
2.87%, 11/22/32 (Call 11/22/31), (SOFR + 1.410%)^(a)(b)		22,421		21,265,076
3.90%, 05/25/26		24,097		25,022,180
3.97%, 05/22/30 (Call 05/22/29), (3 mo. LIBOR US + 1.610%)^(a)(b)		29,895		30,795,862
4.04%, 03/13/28 (Call 03/13/27), (3 mo. LIBOR US + 1.546%)^(b)		27,944		28,948,665
4.25%, 08/18/25^(a)		13,023		13,506,442
4.29%, 09/12/26 (Call 09/12/25), (3 mo. LIBOR US + 1.348%)^(a)(b)		24,471		25,517,791
4.30%, 03/08/26^(a)		25,603		27,018,754
4.38%, 11/23/26^(a)		17,171		18,027,136
4.58%, 06/19/29 (Call 06/19/28), (3 mo. LIBOR US + 1.535%)^(b)		30,854		32,806,018
4.95%, 03/31/30^(a)		23,843		26,458,482
5.25%, 03/14/44^(a)		12,920		14,800,202
6.10%, 01/14/42^(a)		6,210		8,157,893
6.50%, 05/02/36^(a)		23,464		29,564,372
6.50%, 09/15/37		24,445		31,047,812


Security	Par (000)		Value

Banks (continued)
6.80%, 06/01/38^(a)	$	15,373	$	20,069,616
Huntington Bancshares Inc./OH, 2.55%, 02/04/30 (Call 11/04/29)^(a)		8,778		8,527,260
ING Groep NV
1.73%, 04/01/27 (Call 04/01/26), (SOFR + 1.005%)^(b)		15,952		15,257,410
2.73%, 04/01/32 (Call 04/01/31), (SOFR + 1.316%)^(a)(b)		2,908		2,775,116
3.95%, 03/29/27^(a)		18,207		19,126,504
4.05%, 04/09/29^(a)		8,089		8,573,915
4.55%, 10/02/28^(a)		11,190		12,170,332
JPMorgan Chase & Co.
1.04%, 02/04/27 (Call 02/04/26), (SOFR + 0.695%)^(b)		20,506		19,181,563
1.05%, 11/19/26 (Call 11/19/25), (SOFR + 0.800%)^(b)		26,207		24,660,417
1.47%, 09/22/27 (Call 09/22/26), (SOFR + 0.765%)^(a)(b)		23,629		22,292,532
1.58%, 04/22/27 (Call 04/22/26), (SOFR + 0.885%)^(b)		33,657		32,129,087
1.76%, 11/19/31 (Call 11/19/30), (SOFR + 1.105%)^(b)		13,017		11,705,326
1.95%, 02/04/32 (Call 02/04/31), (SOFR + 1.065%)^(b)		26,855		24,466,812
2.01%, 03/13/26 (Call 03/13/25), (SOFR + 1.585%)^(b)		25,629		25,212,265
2.07%, 06/01/29 (Call 06/01/28), (SOFR + 1.015%)^(b)		17,502		16,564,196
2.08%, 04/22/26 (Call 04/22/25), (SOFR + 1.850%)^(b)		33,751		33,284,639
2.18%, 06/01/28 (Call 06/01/27), (SOFR + 1.890%)^(b)		14,090		13,638,551
2.52%, 04/22/31 (Call 04/22/30), (SOFR + 2.040%)^(a)(b)		26,883		25,803,105
2.53%, 11/19/41 (Call 11/19/40), (SOFR + 1.510%)^(b)		15,464		13,327,859
2.55%, 11/08/32 (Call 11/08/31), (SOFR + 1.180%)^(a)(b)		38,821		37,062,774
2.58%, 04/22/32 (Call 04/22/31), (SOFR + 1.250%)^(b)		33,512		32,123,132
2.74%, 10/15/30 (Call 10/15/29), (SOFR + 1.510%)^(b)		33,679		32,899,392
2.95%, 10/01/26 (Call 07/01/26)^(a)		26,977		27,356,356
2.95%, 02/24/28 (Call 02/24/27), (SOFR + 1.170%)^(b)		4,745		4,771,615
2.96%, 01/25/33 (Call 01/25/32), (SOFR + 1.260%)^(b)		20,663		20,408,657
3.11%, 04/22/41 (Call 04/22/40), (SOFR + 2.460%)^(b)		15,940		15,073,337
3.11%, 04/22/51 (Call 04/22/50), (SOFR + 2.440%)^(b)		21,566		19,898,728
3.16%, 04/22/42 (Call 04/22/41), (SOFR + 1.460%)^(b)		20,070		18,965,943
3.20%, 06/15/26 (Call 03/15/26)^(a)		18,503		18,986,326
3.30%, 04/01/26 (Call 01/01/26)^(a)		23,130		23,829,979
3.33%, 04/22/52 (Call 04/22/51), (SOFR + 1.580%)^(b)		30,564		29,299,014
3.51%, 01/23/29 (Call 01/23/28), (3 mo. LIBOR US + 0.945%)^(a)(b)		21,573		22,149,476


Security	Par (000)		Value

Banks (continued)
3.54%, 05/01/28 (Call 05/01/27), (3 mo. LIBOR US + 1.380%)^(a)(b)	$	22,520	$	23,276,201
3.63%, 12/01/27 (Call 12/01/26)^(a)		9,379		9,699,219
3.70%, 05/06/30 (Call 05/06/29), (3 mo. LIBOR US + 1.160%)^(b)		22,576		23,485,603
3.78%, 02/01/28 (Call 02/01/27), (3 mo. LIBOR US + 1.337%)^(b)		23,566		24,601,542
3.88%, 07/24/38 (Call 07/24/37), (3 mo. LIBOR US + 1.360%)^(a)(b)		22,228		23,359,759
3.90%, 07/15/25 (Call 04/15/25)^(a)		21,425		22,380,666
3.90%, 01/23/49 (Call 01/23/48), (3 mo. LIBOR US + 1.220%)^(b)		16,313		17,021,160
3.96%, 01/29/27 (Call 01/29/26), (3 mo. LIBOR US + 1.245%)^(b)		18,999		19,864,372
3.96%, 11/15/48 (Call 11/15/47), (3 mo. LIBOR US + 1.380%)^(a)(b)		31,868		33,675,441
4.01%, 04/23/29 (Call 04/23/28), (3 mo. LIBOR US + 1.120%)^(a)(b)		20,382		21,466,687
4.03%, 07/24/48 (Call 07/24/47), (3 mo. LIBOR US + 1.460%)^(b)		14,603		15,531,657
4.13%, 12/15/26^(a)		19,171		20,370,430
4.20%, 07/23/29 (Call 07/23/28), (3 mo. LIBOR US + 1.260%)^(a)(b)		22,572		24,029,650
4.25%, 10/01/27^(a)		14,723		15,748,670
4.26%, 02/22/48 (Call 02/22/47), (3 mo. LIBOR US + 1.580%)^(a)(b)		17,789		19,526,421
4.45%, 12/05/29 (Call 12/05/28), (3 mo. LIBOR US + 1.330%)^(a)(b)		22,915		24,753,450
4.49%, 03/24/31 (Call 03/24/30), (SOFR + 3.790%)^(a)(b)		26,161		28,696,658
4.85%, 02/01/44^(a)		9,026		10,698,637
4.95%, 06/01/45^(a)		16,700		19,605,003
5.40%, 01/06/42		12,509		15,498,004
5.50%, 10/15/40		12,073		15,039,614
5.60%, 07/15/41		15,338		19,253,064
5.63%, 08/16/43^(a)		11,448		14,513,793
6.40%, 05/15/38^(a)		22,587		30,269,778
KeyBank N.A./Cleveland OH, 3.30%, 06/01/25^(a)		2,525		2,609,253
KeyCorp.
2.25%, 04/06/27^(a)		12,461		12,262,393
2.55%, 10/01/29^(a)		3,653		3,541,513
4.10%, 04/30/28		10,880		11,668,585
Lloyds Banking Group PLC
1.63%, 05/11/27 (Call 05/11/26)^(a)(b)		9,842		9,335,152
3.57%, 11/07/28 (Call 11/07/27), (3 mo. LIBOR US + 1.205%)^(a)(b)		14,234		14,521,439
3.75%, 01/11/27^(a)		15,936		16,530,177
4.34%, 01/09/48^(a)		14,097		14,370,072
4.38%, 03/22/28		14,617		15,577,363
4.45%, 05/08/25		12,938		13,624,198
4.55%, 08/16/28^(a)		11,314		12,215,159
4.58%, 12/10/25		18,028		18,940,174
4.65%, 03/24/26		17,632		18,640,859
5.30%, 12/01/45^(a)		8,830		10,135,715
Mitsubishi UFJ Financial Group Inc.
1.41%, 07/17/25^(a)		15,607		15,012,433
1.54%, 07/20/27 (Call 07/20/26)^(b)		22,997		21,791,007
1.64%, 10/13/27 (Call 10/13/26)^(b)		12,784		12,132,760
2.05%, 07/17/30		15,818		14,602,645
2.31%, 07/20/32 (Call 07/20/31)^(b)		21,293		19,750,607


Security	Par (000)		Value

Banks (continued)
2.34%, 01/19/28 (Call 01/19/27)^(b)	$	9,220	$	8,996,835
2.49%, 10/13/32 (Call 10/13/31)^(b)		6,868		6,462,705
2.56%, 02/25/30^(a)		13,868		13,320,423
2.76%, 09/13/26^(a)		8,941		8,981,966
2.85%, 01/19/33 (Call 01/19/32)^(b)		12,159		11,761,178
3.20%, 07/18/29		19,252		19,373,193
3.29%, 07/25/27^(a)		5,865		6,007,792
3.68%, 02/22/27^(a)		8,097		8,448,700
3.74%, 03/07/29		15,460		16,169,496
3.75%, 07/18/39^(a)		13,096		13,596,677
3.78%, 03/02/25		1,457		1,510,331
3.85%, 03/01/26^(a)		24,300		25,424,626
3.96%, 03/02/28^(a)		9,905		10,457,207
4.05%, 09/11/28^(a)		9,202		9,776,805
Mizuho Financial Group Inc.
1.23%, 05/22/27 (Call 05/22/26)^(b)		21,090		19,747,750
1.55%, 07/09/27 (Call 07/09/26)^(b)		15,652		14,790,210
1.98%, 09/08/31 (Call 09/08/30), (SOFR + 1.532%)^(b)		8,732		7,937,075
2.20%, 07/10/31 (Call 07/10/30), (SOFR + 1.772%)^(a)(b)		11,901		11,025,189
2.23%, 05/25/26 (Call 05/25/25), (3 mo. LIBOR US + 0.830%)^(b)		5,004		4,937,093
2.56%, 09/13/31^(a)		10,812		9,908,661
2.84%, 09/13/26^(a)		5,544		5,588,138
3.15%, 07/16/30 (Call 07/16/29), (3 mo. LIBOR US + 1.130%)^(b)		8,278		8,226,155
3.17%, 09/11/27^(a)		8,800		8,938,209
4.02%, 03/05/28		7,736		8,208,440
4.25%, 09/11/29 (Call 09/11/28), (3 mo. LIBOR US + 1.270%)^(b)		12,621		13,452,243
Morgan Stanley
0.99%, 12/10/26 (Call 12/10/25), (SOFR + 0.720%)^(b)		26,418		24,811,635
1.51%, 07/20/27 (Call 07/20/26), (SOFR + 0.858%)^(b)		26,813		25,406,535
1.59%, 05/04/27 (Call 05/04/26), (SOFR + 0.879%)^(b)		34,876		33,207,651
1.79%, 02/13/32 (Call 02/13/31), (SOFR + 1.034%)^(a)(b)		24,416		21,793,243
1.93%, 04/28/32 (Call 04/28/31), (SOFR + 1.020%)^(b)		23,908		21,519,966
2.19%, 04/28/26 (Call 04/28/25), (SOFR + 1.990%)^(b)		29,771		29,372,378
2.24%, 07/21/32 (Call 07/21/31), (SOFR + 1.178%)^(b)		33,368		30,817,667
2.48%, 01/21/28 (Call 01/21/27), (SOFR + 1.000%)^(b)		21,648		21,271,682
2.51%, 10/20/32 (Call 10/20/31), (SOFR + 1.200%)^(b)		25,617		24,150,767
2.70%, 01/22/31 (Call 01/22/30), (SOFR + 1.143%)(b)		31,627		30,643,954
2.80%, 01/25/52 (Call 01/25/51), (SOFR + 1.430%)^(b)		21,799		18,983,302
2.94%, 01/21/33 (Call 01/21/32), (SOFR + 1.290%)^(b)		25,198		24,664,911
3.13%, 07/27/26^(a)		29,815		30,362,633
3.22%, 04/22/42 (Call 04/22/41), (SOFR + 1.485%)^(a)(b)		20,540		19,590,105


Security	Par (000)		Value

Banks (continued)
3.59%, 07/22/28 (Call 07/22/27), (3 mo. LIBOR US + 1.340%)^(b)	$	28,799	$	29,801,254
3.62%, 04/01/31 (Call 04/01/30), (SOFR + 3.120%)^(b)		29,286		30,260,893
3.63%, 01/20/27		29,433		30,622,299
3.77%, 01/24/29 (Call 01/24/28), (3 mo. LIBOR US + 1.140%)^(b)		26,821		27,848,867
3.88%, 01/27/26		30,316		31,690,327
3.95%, 04/23/27^(a)		21,509		22,565,406
3.97%, 07/22/38 (Call 07/22/37), (3 mo. LIBOR US + 1.455%)^(b)		21,002		21,868,213
4.00%, 07/23/25		26,263		27,519,564
4.30%, 01/27/45		26,150		28,360,548
4.35%, 09/08/26		22,823		24,224,551
4.38%, 01/22/47^(a)		19,224		21,336,012
4.43%, 01/23/30 (Call 01/23/29), (3 mo. LIBOR US + 1.628%)^(a)(b)		27,668		29,867,825
4.46%, 04/22/39 (Call 04/22/38), (3 mo. LIBOR US + 1.431%)^(a)(b)		10,532		11,501,738
5.00%, 11/24/25^(a)		20,301		21,824,397
5.60%, 03/24/51 (Call 03/24/50), (SOFR + 4.480%)^(a)(b)		20,219		26,999,888
6.38%, 07/24/42^(a)		20,105		27,477,053
7.25%, 04/01/32^(a)		10,632		14,264,925
National Australia Bank Ltd./New York
2.50%, 07/12/26^(a)		8,419		8,525,976
3.38%, 01/14/26^(a)		1,579		1,651,984
Natwest Group PLC
1.64%, 06/14/27 (Call 06/14/26)^(a)(b)		14,576		13,841,224
3.07%, 05/22/28 (Call 05/22/27)^(b)		6,250		6,248,352
4.45%, 05/08/30 (Call 05/08/29), (3 mo. LIBOR US + 1.871%)^(a)(b)		12,235		13,038,308
4.80%, 04/05/26^(a)		17,490		18,733,441
4.89%, 05/18/29 (Call 05/18/28), (3 mo. LIBOR US + 1.754%)^(a)(b)		18,721		20,367,141
5.08%, 01/27/30 (Call 01/27/29), (3 mo. LIBOR US + 1.905%)^(b)		17,706		19,500,586
Northern Trust Corp.
1.95%, 05/01/30 (Call 02/01/30)^(a)		4,161		3,953,776
3.95%, 10/30/25^(a)		6,332		6,690,384
PNC Bank N.A.
2.70%, 10/22/29		12,623		12,475,626
3.10%, 10/25/27 (Call 09/25/27)^(a)		9,903		10,246,679
3.25%, 06/01/25 (Call 05/02/25)		7,097		7,347,538
4.05%, 07/26/28		14,124		15,075,924
PNC Financial Services Group Inc. (The)
2.31%, 04/23/32 (Call 04/23/31), (SOFR + 0.979%)^(a)(b)		7,972		7,588,706
2.55%, 01/22/30 (Call 10/24/29)^(a)		22,303		21,868,210
2.60%, 07/23/26 (Call 05/23/26)^(a)		12,732		12,898,303
3.15%, 05/19/27 (Call 04/19/27)^(a)		7,667		7,930,284
3.45%, 04/23/29 (Call 01/23/29)^(a)		18,372		19,254,207
Royal Bank of Canada
0.88%, 01/20/26^(a)		21,522		20,335,105
1.15%, 06/10/25		13,077		12,577,180
1.15%, 07/14/26		14,889		14,089,337
1.20%, 04/27/26		26,998		25,638,985
1.40%, 11/02/26		10,499		10,002,229
2.30%, 11/03/31		15,548		14,687,409
4.65%, 01/27/26^(a)		14,381		15,477,195


Security	Par (000)		Value

Banks (continued)
Santander Holdings USA Inc.
2.49%, 01/06/28 (Call 01/06/27), (SOFR + 1.249%)^(b)	$	11,590	$	11,260,091
3.24%, 10/05/26 (Call 08/05/26)^(a)		9,901		9,994,915
3.45%, 06/02/25 (Call 05/02/25)		7,454		7,576,550
4.40%, 07/13/27 (Call 04/14/27)		7,462		7,852,389
4.50%, 07/17/25 (Call 04/17/25)		11,171		11,713,584
Santander UK Group Holdings PLC
1.53%, 08/21/26 (Call 08/21/25)^(b)		8,458		8,066,634
1.67%, 06/14/27 (Call 06/14/26), (SOFR + 0.989%)^(b)		11,071		10,454,899
2.47%, 01/11/28 (Call 01/11/27), (SOFR + 1.220%)^(b)		10,719		10,372,937
3.82%, 11/03/28 (Call 11/03/27), (3 mo. LIBOR US + 1.400%)^(a)(b)		4,321		4,430,577
State Street Corp.
2.20%, 03/03/31		8,250		7,768,114
2.40%, 01/24/30^(a)		7,237		7,077,186
2.65%, 05/19/26		9,859		10,067,798
3.55%, 08/18/25		13,648		14,259,788
Sumitomo Mitsui Financial Group Inc.
0.95%, 01/12/26		11,757		11,069,157
1.40%, 09/17/26^(a)		22,330		21,088,523
1.47%, 07/08/25		19,797		19,088,267
1.90%, 09/17/28		20,884		19,546,083
2.13%, 07/08/30		18,068		16,800,020
2.14%, 09/23/30		10,968		9,975,605
2.22%, 09/17/31		10,975		10,186,980
2.63%, 07/14/26^(a)		23,643		23,671,135
2.75%, 01/15/30		13,243		12,935,572
2.93%, 09/17/41^(a)		8,251		7,440,427
3.01%, 10/19/26		12,982		13,132,516
3.04%, 07/16/29		24,999		24,906,264
3.35%, 10/18/27		8,630		8,884,993
3.36%, 07/12/27^(a)		14,097		14,534,172
3.45%, 01/11/27		12,827		13,246,839
3.54%, 01/17/28		7,204		7,450,333
3.78%, 03/09/26^(a)		13,751		14,379,749
3.94%, 07/19/28		6,317		6,688,699
Toronto-Dominion Bank (The)
0.75%, 09/11/25		14,803		13,995,406
0.75%, 01/06/26^(a)		15,609		14,687,541
1.15%, 06/12/25^(a)		11,569		11,136,883
1.20%, 06/03/26		20,448		19,455,818
1.25%, 09/10/26		17,073		16,167,629
1.95%, 01/12/27^(a)		18,116		17,685,819
2.00%, 09/10/31^(a)		5,528		5,122,422
Truist Bank
1.50%, 03/10/25 (Call 02/10/25)		5,733		5,635,725
2.25%, 03/11/30 (Call 12/11/29)		12,072		11,430,964
3.30%, 05/15/26 (Call 04/15/26)		11,488		11,877,104
3.63%, 09/16/25 (Call 08/16/25)^(a)		13,356		13,905,227
3.80%, 10/30/26 (Call 09/30/26)^(a)		10,835		11,424,162
Truist Financial Corp.
1.13%, 08/03/27 (Call 06/03/27)^(a)		8,376		7,768,752
1.20%, 08/05/25 (Call 07/03/25)		11,872		11,436,571
1.27%, 03/02/27 (Call 03/02/26), (SOFR + 0.609%)^(b)		20,454		19,537,790
1.89%, 06/07/29 (Call 06/07/28), (SOFR + 0.862%)^(a)(b)		11,179		10,579,419


Security	Par (000)		Value

Banks (continued)
1.95%, 06/05/30 (Call 03/05/30)	$	3,756	$	3,502,934
3.70%, 06/05/25 (Call 05/05/25)^(a)		10,898		11,370,602
4.00%, 05/01/25 (Call 03/01/25)		7,867		8,251,002
U.S. Bancorp.
1.38%, 07/22/30 (Call 04/22/30)^(a)		13,598		12,138,075
1.45%, 05/12/25 (Call 04/11/25)		10,407		10,173,363
2.22%, 01/27/28 (Call 01/27/27), (SOFR + 0.730%)^(b)		11,502		11,365,007
2.68%, 01/27/33 (Call 01/27/32), (SOFR + 1.020%)^(a)(b)		12,368		12,140,894
3.00%, 07/30/29 (Call 04/30/29)^(a)		10,322		10,410,314
3.10%, 04/27/26 (Call 03/27/26)^(a)		14,470		14,865,154
3.90%, 04/26/28 (Call 03/24/28)^(a)		6,895		7,372,581
3.95%, 11/17/25 (Call 10/17/25)^(a)		6,743		7,145,247
Series V, 2.38%, 07/22/26 (Call 06/22/26)^(a)		17,677		17,808,001
Series X, 3.15%, 04/27/27 (Call 03/27/27)^(a)		12,554		13,018,130
Wachovia Corp., 5.50%, 08/01/35^(a)		9,027		10,668,708
Wells Fargo & Co.
2.19%, 04/30/26 (Call 04/30/25), (SOFR + 2.000%)^(b)		31,100		30,680,349
2.39%, 06/02/28 (Call 06/02/27), (SOFR + 2.100%)^(b)		28,247		27,589,497
2.57%, 02/11/31 (Call 02/11/30), (SOFR + 1.262%)^(b)		28,340		27,229,815
2.88%, 10/30/30 (Call 10/30/29), (SOFR + 1.432%)^(b)		33,183		32,641,696
3.00%, 04/22/26		30,917		31,337,570
3.00%, 10/23/26^(a)		31,090		31,496,365
3.07%, 04/30/41 (Call 04/30/40), (SOFR + 2.530%)^(a)(b)		35,617		33,071,891
3.20%, 06/17/27 (Call 06/17/26), (3 mo. LIBOR US + 1.170%)^(b)		23,779		24,159,145
3.35%, 03/02/33 (Call 03/02/32), (SOFR + 1.500%)^(b)		20,000		20,223,926
3.55%, 09/29/25^(a)		25,525		26,408,104
3.58%, 05/22/28 (Call 05/22/27), (3 mo. LIBOR US + 1.310%)^(a)(b)		23,242		24,000,105
3.90%, 05/01/45^(a)		19,702		20,486,126
4.10%, 06/03/26^(a)		21,940		23,071,005
4.15%, 01/24/29 (Call 10/24/28)^(a)		22,217		23,649,410
4.30%, 07/22/27		21,542		22,956,443
4.40%, 06/14/46^(a)		19,887		21,337,118
4.48%, 04/04/31 (Call 04/04/30), (SOFR + 4.032%)^(b)		19,262		21,030,554
4.65%, 11/04/44^(a)		17,581		19,286,997
4.75%, 12/07/46		20,131		22,633,573
4.90%, 11/17/45^(a)		19,967		22,640,637
5.01%, 04/04/51 (Call 04/04/50), (SOFR + 4.502%)^(a)(b)		49,941		61,383,432
5.38%, 11/02/43		20,009		24,013,469
5.61%, 01/15/44		23,952		29,345,669
Wells Fargo Bank N.A.
5.85%, 02/01/37		11,188		14,000,091
6.60%, 01/15/38^(a)		14,372		19,484,312
Westpac Banking Corp.
1.15%, 06/03/26		12,405		11,871,962
1.95%, 11/20/28		12,320		11,769,003
2.15%, 06/03/31		3,844		3,654,839
2.65%, 01/16/30		6,154		6,130,138
2.70%, 08/19/26^(a)		9,253		9,409,226


Security	Par (000)		Value

Banks (continued)
2.85%, 05/13/26	$	15,389	$	15,772,114
2.96%, 11/16/40^(a)		11,044		9,751,777
3.13%, 11/18/41^(a)		10,433		9,382,608
3.35%, 03/08/27^(a)		10,627		11,100,171
3.40%, 01/25/28^(a)		7,428		7,749,312
4.42%, 07/24/39		8,640		9,319,422


				8,376,385,437

Beverages — 3.1%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)^(a)		35,133		36,693,063
4.70%, 02/01/36 (Call 08/01/35)		52,914		59,239,652
4.90%, 02/01/46 (Call 08/01/45)^(a)		88,539		100,668,073
Anheuser-Busch InBev Finance Inc.
4.00%, 01/17/43^(a)		10,015		10,159,637
4.63%, 02/01/44^(a)		9,720		10,593,102
4.90%, 02/01/46 (Call 08/01/45)		13,703		15,319,354
Anheuser-Busch InBev Worldwide Inc.
3.50%, 06/01/30 (Call 03/01/30)^(a)		16,418		17,141,108
3.75%, 07/15/42		11,365		11,202,183
4.00%, 04/13/28 (Call 01/13/28)^(a)		22,173		23,596,123
4.35%, 06/01/40 (Call 12/01/39)		10,086		10,747,346
4.38%, 04/15/38 (Call 10/15/37)^(a)		14,140		15,118,786
4.44%, 10/06/48 (Call 04/06/48)		17,604		18,839,551
4.50%, 06/01/50 (Call 12/01/49)^(a)		22,233		24,497,536
4.60%, 04/15/48 (Call 10/15/47)^(a)		25,805		28,223,189
4.60%, 06/01/60 (Call 12/01/59)		10,811		11,816,411
4.75%, 01/23/29 (Call 10/23/28)		39,450		43,827,100
4.75%, 04/15/58 (Call 10/15/57)		15,940		17,617,330
4.90%, 01/23/31 (Call 10/23/30)		8,345		9,561,942
4.95%, 01/15/42^(a)		11,703		13,373,716
5.45%, 01/23/39 (Call 07/23/38)		20,425		24,329,124
5.55%, 01/23/49 (Call 07/23/48)^(a)		38,678		47,872,898
5.80%, 01/23/59 (Call 07/23/58)		19,718		25,347,095
8.20%, 01/15/39^(a)		12,271		18,660,491
Coca-Cola Co. (The)
1.00%, 03/15/28^(a)		12,330		11,384,649
1.38%, 03/15/31^(a)		12,275		11,014,118
1.45%, 06/01/27^(a)		14,663		14,080,567
1.50%, 03/05/28^(a)		6,834		6,514,487
1.65%, 06/01/30^(a)		15,655		14,513,693
2.00%, 03/05/31		4,871		4,612,496
2.13%, 09/06/29^(a)		11,162		10,875,105
2.25%, 01/05/32^(a)		17,904		17,253,942
2.50%, 06/01/40^(a)		10,469		9,459,346
2.50%, 03/15/51^(a)		16,081		13,756,696
2.60%, 06/01/50		13,364		11,725,417
2.75%, 06/01/60^(a)		10,243		8,883,630
2.88%, 05/05/41^(a)		9,985		9,460,781
3.00%, 03/05/51		16,520		15,758,550
3.38%, 03/25/27^(a)		12,591		13,243,100
3.45%, 03/25/30^(a)		13,602		14,380,229
Constellation Brands Inc.
2.25%, 08/01/31 (Call 05/01/31)		13,642		12,527,406
3.15%, 08/01/29 (Call 05/01/29)		7,977		7,980,013
Diageo Capital PLC
1.38%, 09/29/25 (Call 08/29/25)		5,153		4,994,252
2.00%, 04/29/30 (Call 01/29/30)		9,989		9,440,235
2.13%, 04/29/32 (Call 01/29/32)^(a)		6,976		6,564,973
2.38%, 10/24/29 (Call 07/24/29)^(a)		11,473		11,219,658


,Security	Par (000)		Value

Beverages (continued)
Keurig Dr Pepper Inc.
3.20%, 05/01/30 (Call 02/01/30)^(a)	$	12,087	$	12,224,565
3.80%, 05/01/50 (Call 11/01/49)^(a)		7,569		7,429,670
4.42%, 05/25/25 (Call 03/25/25)^(a)		3,156		3,342,459
4.60%, 05/25/28 (Call 02/25/28)^(a)		19,241		20,997,428
5.09%, 05/25/48 (Call 11/25/47)^(a)		7,245		8,483,309
Molson Coors Beverage Co.
3.00%, 07/15/26 (Call 04/15/26)^(a)		28,320		28,826,110
4.20%, 07/15/46 (Call 01/15/46)^(a)		18,802		18,744,381
5.00%, 05/01/42		10,145		11,078,273
PepsiCo Inc.
1.40%, 02/25/31 (Call 11/25/30)		6,706		6,095,997
1.63%, 05/01/30 (Call 02/01/30)		10,755		10,029,130
1.95%, 10/21/31 (Call 07/21/31)^(a)		16,358		15,505,845
2.25%, 03/19/25 (Call 02/19/25)		9,339		9,445,677
2.38%, 10/06/26 (Call 07/06/26)^(a)		11,047		11,192,992
2.63%, 07/29/29 (Call 04/29/29)^(a)		7,729		7,798,914
2.63%, 10/21/41 (Call 04/21/41)^(a)		8,978		8,314,168
2.75%, 04/30/25 (Call 01/30/25)^(a)		9,362		9,561,472
2.75%, 03/19/30 (Call 12/19/29)		16,950		17,148,379
2.75%, 10/21/51 (Call 04/21/51)^(a)		11,625		10,685,463
2.85%, 02/24/26 (Call 11/24/25)^(a)		5,507		5,667,844
2.88%, 10/15/49 (Call 04/15/49)^(a)		11,303		10,665,374
3.00%, 10/15/27 (Call 07/15/27)^(a)		12,995		13,481,645
3.45%, 10/06/46 (Call 04/06/46)^(a)		11,638		11,977,541
3.63%, 03/19/50 (Call 09/19/49)		9,305		9,940,266
4.45%, 04/14/46 (Call 10/14/45)^(a)		702		831,768


				1,103,556,823

Biotechnology — 1.6%
Amgen Inc.
1.65%, 08/15/28 (Call 06/15/28)^(a)		12,531		11,717,771
2.00%, 01/15/32 (Call 10/15/31)^(a)		12,363		11,282,295
2.20%, 02/21/27 (Call 12/21/26)		16,529		16,268,958
2.30%, 02/25/31 (Call 11/25/30)^(a)		11,939		11,285,563
2.45%, 02/21/30 (Call 11/21/29)^(a)		12,243		11,825,923
2.60%, 08/19/26 (Call 05/19/26)^(a)		13,052		13,160,838
2.77%, 09/01/53 (Call 03/01/53)^(a)		10,465		8,500,879
2.80%, 08/15/41 (Call 02/15/41)		10,620		9,330,134
3.00%, 02/22/29 (Call 12/22/28)		87		87,942
3.00%, 01/15/52 (Call 07/15/51)^(a)		15,932		13,631,609
3.13%, 05/01/25 (Call 02/01/25)		8,263		8,447,667
3.15%, 02/21/40 (Call 08/21/39)		19,580		18,230,844
3.20%, 11/02/27 (Call 08/02/27)^(a)		9,958		10,251,253
3.35%, 02/22/32 (Call 11/22/31)^(a)		9,337		9,516,060
3.38%, 02/21/50 (Call 08/21/49)^(a)		22,489		20,630,419
4.20%, 02/22/52 (Call 08/22/51)		11,302		11,865,461
4.40%, 05/01/45 (Call 11/01/44)^(a)		23,723		25,264,651
4.40%, 02/22/62 (Call 08/22/61)		10,796		11,348,784
4.56%, 06/15/48 (Call 12/15/47)^(a)		13,351		14,632,390
4.66%, 06/15/51 (Call 12/15/50)^(a)		33,753		37,959,508
Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25)		1,063		1,109,933
Biogen Inc.
2.25%, 05/01/30 (Call 02/01/30)^(a)		15,914		14,556,421
3.15%, 05/01/50 (Call 11/01/49)		15,840		13,072,164
4.05%, 09/15/25 (Call 06/15/25)^(a)		14,943		15,614,864
5.20%, 09/15/45 (Call 03/15/45)^(a)		11,455		12,876,864
Gilead Sciences Inc.
1.20%, 10/01/27 (Call 08/01/27)		6,150		5,712,327
1.65%, 10/01/30 (Call 07/01/30)^(a)		11,514		10,461,556
2.60%, 10/01/40 (Call 04/01/40)		10,889		9,395,603


,Security	Par (000)		Value

Biotechnology (continued)
2.80%, 10/01/50 (Call 04/01/50)^(a)	$	14,413	$	12,127,117
2.95%, 03/01/27 (Call 12/01/26)^(a)		12,272		12,519,558
3.65%, 03/01/26 (Call 12/01/25)^(a)		24,681		25,756,716
4.00%, 09/01/36 (Call 03/01/36)^(a)		5,617		5,989,249
4.15%, 03/01/47 (Call 09/01/46)		18,661		19,588,758
4.50%, 02/01/45 (Call 08/01/44)^(a)		17,566		19,197,087
4.60%, 09/01/35 (Call 03/01/35)^(a)		9,424		10,663,221
4.75%, 03/01/46 (Call 09/01/45)^(a)		22,167		25,105,052
4.80%, 04/01/44 (Call 10/01/43)^(a)		15,935		18,049,978
5.65%, 12/01/41 (Call 06/01/41)^(a)		10,959		13,699,457
Regeneron Pharmaceuticals Inc.
1.75%, 09/15/30 (Call 06/15/30)^(a)		14,995		13,407,072
2.80%, 09/15/50 (Call 03/15/50)		4,930		4,075,154
Royalty Pharma PLC
1.20%, 09/02/25 (Call 08/02/25)		11,920		11,303,931
1.75%, 09/02/27 (Call 07/02/27)		9,164		8,599,800
2.20%, 09/02/30 (Call 06/02/30)		6,945		6,296,412
3.30%, 09/02/40 (Call 03/02/40)^(a)		10,964		9,662,374
3.55%, 09/02/50 (Call 03/02/50)^(a)		11,606		10,052,863


				584,132,480

Building Materials — 0.2%
Carrier Global Corp.
2.49%, 02/15/27 (Call 12/15/26)		10,054		9,988,094
2.70%, 02/15/31 (Call 11/15/30)^(a)		6,660		6,431,876
2.72%, 02/15/30 (Call 11/15/29)^(a)		19,466		18,922,792
3.38%, 04/05/40 (Call 10/05/39)		13,144		12,382,799
3.58%, 04/05/50 (Call 10/05/49)^(a)		20,868		19,795,568
Martin Marietta Materials Inc.
2.40%, 07/15/31 (Call 04/15/31)^(a)		9,364		8,789,145
3.20%, 07/15/51 (Call 01/15/51)^(a)		9,227		8,232,429


				84,542,703

Chemicals — 1.1%
Air Products and Chemicals Inc.
2.05%, 05/15/30 (Call 02/15/30)^(a)		10,180		9,726,207
2.70%, 05/15/40 (Call 11/15/39)		8,537		7,840,779
2.80%, 05/15/50 (Call 11/15/49)^(a)		8,936		8,018,365
CF Industries Inc.
4.95%, 06/01/43		6,172		6,724,685
5.15%, 03/15/34^(a)		8,251		9,272,820
5.38%, 03/15/44		9,341		10,587,697
Dow Chemical Co. (The)
2.10%, 11/15/30 (Call 08/15/30)^(a)		5,067		4,725,464
3.60%, 11/15/50 (Call 05/15/50)^(a)		11,566		11,046,982
3.63%, 05/15/26 (Call 03/15/26)		6,887		7,200,024
4.38%, 11/15/42 (Call 05/15/42)		12,725		13,577,759
4.80%, 05/15/49 (Call 11/15/48)		6,660		7,574,576
5.25%, 11/15/41 (Call 05/15/41)^(a)		8,121		9,630,258
5.55%, 11/30/48 (Call 05/30/48)		8,219		10,358,840
7.38%, 11/01/29^(a)		7,183		9,267,638
DuPont de Nemours Inc.
4.49%, 11/15/25 (Call 09/15/25)^(a)		17,966		19,138,939
4.73%, 11/15/28 (Call 08/15/28)^(a)		20,897		23,087,242
5.32%, 11/15/38 (Call 05/15/38)		16,916		20,134,584
5.42%, 11/15/48 (Call 05/15/48)		19,894		24,961,252
Eastman Chemical Co., 4.65%, 10/15/44
(Call 04/15/44)^(a)		7,294		7,946,773
Ecolab Inc.
2.70%, 11/01/26 (Call 08/01/26)^(a)		6,498		6,609,230
2.70%, 12/15/51 (Call 06/15/51)^(a)		6,861		5,984,512


Security	Par (000)		Value

Chemicals (continued)
4.80%, 03/24/30 (Call 12/24/29)^(a)	$	3,670	$	4,210,691
International Flavors & Fragrances Inc., 5.00%, 09/26/48 (Call 03/26/48)		4,858		5,554,981
LYB International Finance BV
4.88%, 03/15/44 (Call 09/15/43)		10,387		11,415,625
5.25%, 07/15/43^(a)		8,334		9,627,015
LYB International Finance III LLC
3.38%, 10/01/40 (Call 04/01/40)^(a)		8,352		7,797,433
3.63%, 04/01/51 (Call 10/01/50)^(a)		11,094		10,479,863
4.20%, 10/15/49 (Call 04/15/49)^(a)		9,046		9,179,835
4.20%, 05/01/50 (Call 11/01/49)		10,406		10,547,821
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)^(a)		9,656		10,228,689
Nutrien Ltd.
4.20%, 04/01/29 (Call 01/01/29)		7,983		8,605,890
5.00%, 04/01/49 (Call 10/01/48)		7,221		8,629,707
Sherwin-Williams Co. (The)
2.95%, 08/15/29 (Call 05/15/29)^(a)		10,867		10,913,865
3.45%, 06/01/27 (Call 03/01/27)^(a)		14,760		15,336,193
4.50%, 06/01/47 (Call 12/01/46)		12,898		14,134,794
Westlake Chemical Corp., 3.60%, 08/15/26 (Call 05/15/26)		5,316		5,539,060


				375,616,088

Commercial Services — 0.6%
Automatic Data Processing Inc.
1.25%, 09/01/30 (Call 06/01/30)		10,135		9,106,092
1.70%, 05/15/28 (Call 03/15/28)		11,733		11,290,008
3.38%, 09/15/25 (Call 06/15/25)		6,450		6,724,351
Equifax Inc., 2.35%, 09/15/31 (Call 06/15/31)		11,448		10,503,282
Global Payments Inc.
1.20%, 03/01/26 (Call 02/01/26)		12,812		12,103,728
2.15%, 01/15/27 (Call 12/15/26)		8,846		8,528,794
2.90%, 05/15/30 (Call 02/15/30)^(a)		9,844		9,468,664
2.90%, 11/15/31 (Call 08/15/31)		8,253		7,850,074
3.20%, 08/15/29 (Call 05/15/29)^(a)		15,851		15,662,546
4.15%, 08/15/49 (Call 02/15/49)^(a)		6,451		6,355,333
4.80%, 04/01/26 (Call 01/01/26)^(a)		4,700		5,041,090
IHS Markit Ltd.
4.25%, 05/01/29 (Call 02/01/29)		6,713		7,299,125
4.75%, 08/01/28 (Call 05/01/28)		7,684		8,524,804
Massachusetts Institute of Technology, 5.60%, 07/01/2111		4,599		6,837,839
PayPal Holdings Inc.
1.65%, 06/01/25 (Call 05/01/25)		5,007		4,902,786
2.30%, 06/01/30 (Call 03/01/30)		10,082		9,608,112
2.65%, 10/01/26 (Call 08/01/26)^(a)		12,701		12,844,384
2.85%, 10/01/29 (Call 07/01/29)^(a)		15,918		15,859,107
3.25%, 06/01/50 (Call 12/01/49)^(a)		9,823		9,162,171
Quanta Services Inc., 2.90%, 10/01/30 (Call 07/01/30)		13,140		12,591,662
RELX Capital Inc.
3.00%, 05/22/30 (Call 02/22/30)^(a)		8,463		8,455,497
4.00%, 03/18/29 (Call 12/18/28)^(a)		10,169		10,818,523
Verisk Analytics Inc., 4.00%, 06/15/25 (Call 03/15/25)^(a)		2,573		2,679,473


				212,217,445

Computers — 3.2%
Apple Inc.
0.55%, 08/20/25 (Call 07/20/25)		14,580		13,875,191
0.70%, 02/08/26 (Call 01/08/26)^(a)		24,779		23,661,348


Security	Par (000)		Value

Computers (continued)
1.13%, 05/11/25 (Call 04/11/25)	$	18,404	$	17,969,546
1.25%, 08/20/30 (Call 05/20/30)		12,713		11,448,794
1.40%, 08/05/28 (Call 06/05/28)		24,027		22,677,151
1.65%, 05/11/30 (Call 02/11/30)		16,588		15,487,753
1.65%, 02/08/31 (Call 11/08/30)		29,041		26,935,211
1.70%, 08/05/31 (Call 05/05/31)^(a)		10,013		9,280,475
2.05%, 09/11/26 (Call 07/11/26)		20,487		20,432,953
2.20%, 09/11/29 (Call 06/11/29)^(a)		15,773		15,465,748
2.38%, 02/08/41 (Call 08/08/40)		16,063		14,290,087
2.40%, 08/20/50 (Call 02/20/50)^(a)		12,271		10,372,509
2.45%, 08/04/26 (Call 05/04/26)^(a)		23,931		24,272,218
2.55%, 08/20/60 (Call 02/20/60)		16,906		14,059,315
2.65%, 05/11/50 (Call 11/11/49)		23,462		20,898,591
2.65%, 02/08/51 (Call 08/08/50)		31,801		28,218,951
2.70%, 08/05/51 (Call 02/05/51)		18,374		16,422,733
2.80%, 02/08/61 (Call 08/08/60)		18,672		16,421,165
2.85%, 08/05/61 (Call 02/05/61)		11,801		10,484,639
2.90%, 09/12/27 (Call 06/12/27)		18,934		19,524,648
2.95%, 09/11/49 (Call 03/11/49)		15,065		14,113,279
3.00%, 06/20/27 (Call 03/20/27)^(a)		10,892		11,297,852
3.00%, 11/13/27 (Call 08/13/27)^(a)		15,250		15,830,943
3.20%, 05/13/25^(a)		15,379		15,926,694
3.20%, 05/11/27 (Call 02/11/27)^(a)		19,003		19,879,004
3.25%, 02/23/26 (Call 11/23/25)		32,826		34,232,995
3.35%, 02/09/27 (Call 11/09/26)^(a)		21,331		22,450,387
3.45%, 02/09/45^(a)		19,580		19,932,804
3.75%, 09/12/47 (Call 03/12/47)		10,617		11,341,058
3.75%, 11/13/47 (Call 05/13/47)		11,275		12,110,153
3.85%, 05/04/43		30,297		32,642,024
3.85%, 08/04/46 (Call 02/04/46)		20,298		21,944,344
4.25%, 02/09/47 (Call 08/09/46)^(a)		11,208		12,875,143
4.38%, 05/13/45^(a)		19,029		21,919,891
4.45%, 05/06/44^(a)		8,905		10,419,930
4.50%, 02/23/36 (Call 08/23/35)^(a)		7,303		8,547,559
4.65%, 02/23/46 (Call 08/23/45)^(a)		35,412		42,769,700
Dell International LLC/EMC Corp.
3.38%, 12/15/41 (Call 06/15/41)^(a)(c)		10,747		9,521,869
3.45%, 12/15/51 (Call 06/15/51)^(c)		13,315		11,208,434
4.90%, 10/01/26 (Call 08/01/26)		20,072		21,741,926
5.30%, 10/01/29 (Call 07/01/29)^(a)		14,598		16,308,735
5.85%, 07/15/25 (Call 06/15/25)		4,597		5,061,395
6.02%, 06/15/26 (Call 03/15/26)		44,197		49,401,745
6.20%, 07/15/30 (Call 04/15/30)^(a)		9,270		10,950,783
8.35%, 07/15/46 (Call 01/15/46)^(a)		8,140		12,355,428
Hewlett Packard Enterprise Co.
1.75%, 04/01/26 (Call 03/01/26)^(a)		11,418		11,017,399
4.90%, 10/15/25 (Call 07/15/25)^(a)		22,285		23,953,843
6.20%, 10/15/35 (Call 04/15/35)^(a)		4,718		5,635,750
6.35%, 10/15/45 (Call 04/15/45)^(a)		16,920		20,196,917
HP Inc.
1.45%, 06/17/26 (Call 05/17/26)		15,392		14,583,685
2.20%, 06/17/25 (Call 05/17/25)		8,629		8,570,900
2.65%, 06/17/31 (Call 03/17/31)		15,250		14,308,483
3.00%, 06/17/27 (Call 04/17/27)^(a)		13,094		13,204,454
3.40%, 06/17/30 (Call 03/17/30)^(a)		2,853		2,881,386
6.00%, 09/15/41		11,348		13,614,251
International Business Machines Corp.
1.70%, 05/15/27 (Call 03/15/27)		12,427		11,967,923
1.95%, 05/15/30 (Call 02/15/30)^(a)		15,846		14,875,959
2.95%, 05/15/50 (Call 11/15/49)		6,597		5,916,150


Security	Par (000)		Value

Computers (continued)
3.30%, 05/15/26	$	28,107	$	29,211,895
3.45%, 02/19/26^(a)		14,455		15,122,042
3.50%, 05/15/29		30,106		31,487,342
4.00%, 06/20/42^(a)		13,554		14,288,071
4.15%, 05/15/39		15,080		16,113,797
4.25%, 05/15/49^(a)		29,067		31,929,934
Leidos Inc.
2.30%, 02/15/31 (Call 11/15/30)^(a)		11,255		10,245,810
4.38%, 05/15/30 (Call 02/15/30)		7,539		8,001,966
NetApp Inc., 1.88%, 06/22/25 (Call 05/22/25)		6,106		5,981,768
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(a)		15,439		16,044,209


				1,156,137,035

Cosmetics & Personal Care — 0.4%
Procter & Gamble Co. (The)
0.55%, 10/29/25		8,885		8,450,173
1.00%, 04/23/26^(a)		9,299		8,932,987
1.20%, 10/29/30^(a)		13,649		12,342,373
1.90%, 02/01/27		1,584		1,580,371
1.95%, 04/23/31^(a)		6,500		6,247,461
2.30%, 02/01/32		8,247		8,184,802
2.45%, 11/03/26		10,938		11,124,642
2.85%, 08/11/27^(a)		7,514		7,781,534
3.00%, 03/25/30^(a)		15,901		16,539,406
Unilever Capital Corp.
1.75%, 08/12/31 (Call 05/12/31)		9,014		8,247,242
2.13%, 09/06/29 (Call 06/06/29)^(a)		7,753		7,480,063
2.90%, 05/05/27 (Call 02/05/27)^(a)		9,658		9,872,115
3.50%, 03/22/28 (Call 12/22/27)^(a)		13,041		13,739,001
5.90%, 11/15/32		9,756		12,422,139


				132,944,309

Diversified Financial Services — 3.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
1.75%, 01/30/26 (Call 12/30/25)^(a)		12,088		11,450,954
2.45%, 10/29/26 (Call 09/29/26)^(a)		32,686		31,460,112
3.00%, 10/29/28 (Call 08/29/28)^(a)		36,167		34,880,279
3.30%, 01/30/32 (Call 10/30/31)^(a)		36,463		34,568,266
3.40%, 10/29/33 (Call 07/29/33)^(a)		17,259		16,288,211
3.65%, 07/21/27 (Call 04/21/27)		11,607		11,790,273
3.85%, 10/29/41 (Call 04/29/41)		14,127		13,081,996
6.50%, 07/15/25 (Call 06/15/25)		11,199		12,338,353
Air Lease Corp.
1.88%, 08/15/26 (Call 07/15/26)		20,597		19,569,624
2.20%, 01/15/27 (Call 12/15/26)^(a)		5,272		5,053,077
2.30%, 02/01/25 (Call 01/01/25)^(a)		3,039		3,002,664
2.88%, 01/15/26 (Call 12/15/25)^(a)		15,898		15,831,494
2.88%, 01/15/32 (Call 10/15/31)^(a)		2,881		2,686,718
3.13%, 12/01/30 (Call 09/01/30)		10,603		10,195,658
3.38%, 07/01/25 (Call 06/01/25)		6,430		6,501,224
3.75%, 06/01/26 (Call 04/01/26)^(a)		9,706		9,940,303
Ally Financial Inc.
2.20%, 11/02/28 (Call 09/02/28)^(a)		15,534		14,580,775
5.80%, 05/01/25 (Call 04/01/25)^(a)		879		951,155
8.00%, 11/01/31		18,810		24,744,555
American Express Co.
1.65%, 11/04/26 (Call 10/04/26)^(a)		16,949		16,374,493
3.13%, 05/20/26 (Call 04/20/26)^(a)		17,118		17,566,466
4.05%, 12/03/42^(a)		9,028		9,883,179


Security	Par (000)		Value

Diversified Financial Services (continued)
4.20%, 11/06/25 (Call 10/06/25)^(a)	$	6,502	$	6,911,256
Brookfield Finance Inc.
3.50%, 03/30/51 (Call 09/30/50)^(a)		8,292		7,537,529
3.90%, 01/25/28 (Call 10/25/27)		11,469		12,040,669
4.35%, 04/15/30 (Call 01/15/30)		5,200		5,592,647
4.70%, 09/20/47 (Call 03/20/47)^(a)		7,976		8,700,038
4.85%, 03/29/29 (Call 12/29/28)		10,821		11,891,607
Capital One Financial Corp.
3.65%, 05/11/27 (Call 04/11/27)		17,167		17,783,283
3.75%, 07/28/26 (Call 06/28/26)^(a)		15,861		16,381,512
3.75%, 03/09/27 (Call 02/09/27)^(a)		16,819		17,562,072
3.80%, 01/31/28 (Call 12/31/27)		14,680		15,289,904
4.20%, 10/29/25 (Call 09/29/25)^(a)		12,089		12,673,614
4.25%, 04/30/25 (Call 03/31/25)		6,931		7,292,262
Charles Schwab Corp. (The)
0.90%, 03/11/26 (Call 02/11/26)^(a)		19,028		18,024,484
1.15%, 05/13/26 (Call 04/13/26)^(a)		12,582		12,068,905
1.65%, 03/11/31 (Call 12/11/30)		1,561		1,417,704
1.95%, 12/01/31 (Call 09/01/31)		10,797		9,965,524
2.00%, 03/20/28 (Call 01/20/28)^(a)		16,542		16,036,121
2.30%, 05/13/31 (Call 02/13/31)^(a)		7,832		7,486,349
3.85%, 05/21/25 (Call 03/21/25)		7,031		7,383,366
CME Group Inc.
3.00%, 03/15/25 (Call 12/15/24)		2,827		2,899,976
5.30%, 09/15/43 (Call 03/15/43)		7,389		9,410,847
Discover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)^(a)		11,843		12,400,208
Intercontinental Exchange Inc.
1.85%, 09/15/32 (Call 06/15/32)		16,996		15,155,928
2.10%, 06/15/30 (Call 03/15/30)		10,952		10,330,486
2.65%, 09/15/40 (Call 03/15/40)^(a)		15,107		13,359,552
3.00%, 06/15/50 (Call 12/15/49)		10,797		9,621,397
3.00%, 09/15/60 (Call 03/15/60)		12,515		10,689,054
3.75%, 12/01/25 (Call 09/01/25)^(a)		16,999		17,817,774
4.25%, 09/21/48 (Call 03/21/48)		12,157		13,449,999
Jefferies Group LLC/Jefferies Group Capital Finance Inc.
2.63%, 10/15/31 (Call 07/15/31)^(a)		9,659		8,988,579
4.15%, 01/23/30		10,126		10,656,096
4.85%, 01/15/27^(a)		6,345		6,900,257
Mastercard Inc.
2.00%, 03/03/25 (Call 02/03/25)^(a)		3,689		3,693,047
2.00%, 11/18/31 (Call 08/18/31)		15,274		14,451,376
2.95%, 11/21/26 (Call 08/21/26)^(a)		7,955		8,239,578
2.95%, 06/01/29 (Call 03/01/29)^(a)		8,768		9,000,105
3.30%, 03/26/27 (Call 01/26/27)		12,413		13,028,039
3.35%, 03/26/30 (Call 12/26/29)^(a)		10,364		10,876,927
3.65%, 06/01/49 (Call 12/01/48)		8,677		9,184,964
3.85%, 03/26/50 (Call 09/26/49)^(a)		14,276		15,499,520
Nomura Holdings Inc.
1.65%, 07/14/26		16,714		15,864,310
1.85%, 07/16/25^(a)		10,922		10,626,416
2.17%, 07/14/28^(a)		16,865		15,824,942
2.33%, 01/22/27^(a)		11,271		10,888,187
2.61%, 07/14/31		6,568		6,132,728
2.68%, 07/16/30^(a)		9,066		8,569,606
3.00%, 01/22/32		6,821		6,562,967
3.10%, 01/16/30^(a)		14,784		14,506,898


Security	Par (000)		Value

Diversified Financial Services (continued)
Raymond James Financial Inc.
3.75%, 04/01/51 (Call 10/01/50)^(a)	$	10,515	$	10,419,373
4.95%, 07/15/46^(a)		4,261		4,882,626
Synchrony Financial
2.88%, 10/28/31 (Call 07/28/31)^(a)		6,169		5,721,907
3.95%, 12/01/27 (Call 09/01/27)		12,270		12,630,926
4.50%, 07/23/25 (Call 04/23/25)		4,947		5,179,980
Visa Inc.
1.10%, 02/15/31 (Call 11/15/30)		6,678		5,912,070
1.90%, 04/15/27 (Call 02/15/27)^(a)		16,491		16,247,570
2.00%, 08/15/50 (Call 02/15/50)^(a)		18,872		15,029,827
2.05%, 04/15/30 (Call 01/15/30)		16,912		16,317,756
2.70%, 04/15/40 (Call 10/15/39)		11,659		10,925,686
2.75%, 09/15/27 (Call 06/15/27)^(a)		7,674		7,875,543
3.15%, 12/14/25 (Call 09/14/25)^(a)		36,102		37,354,407
3.65%, 09/15/47 (Call 03/15/47)		11,594		12,356,886
4.15%, 12/14/35 (Call 06/14/35)^(a)		11,829		13,234,754
4.30%, 12/14/45 (Call 06/14/45)		32,923		38,156,246


				1,061,653,995

Electric — 2.9%
AES Corp. (The)
1.38%, 01/15/26 (Call 12/15/25)^(a)		8,916		8,469,178
2.45%, 01/15/31 (Call 10/15/30)^(a)		7,905		7,299,768
Ameren Corp., 3.50%, 01/15/31 (Call 10/15/30)^(a)		4,827		4,940,911
Avangrid Inc.
3.20%, 04/15/25 (Call 03/15/25)^(a)		5,386		5,505,647
3.80%, 06/01/29 (Call 03/01/29)		4,600		4,803,560
Berkshire Hathaway Energy Co.
2.85%, 05/15/51 (Call 11/15/50)		14,772		12,510,976
3.70%, 07/15/30 (Call 04/15/30)		10,696		11,301,460
3.80%, 07/15/48 (Call 01/15/48)^(a)		8,205		8,233,873
4.05%, 04/15/25 (Call 03/15/25)^(a)		8,628		9,108,216
4.25%, 10/15/50 (Call 04/15/50)^(a)		8,515		9,153,613
4.45%, 01/15/49 (Call 07/15/48)		9,803		10,712,957
4.50%, 02/01/45 (Call 08/01/44)		7,751		8,444,644
5.15%, 11/15/43 (Call 05/15/43)		6,260		7,275,311
6.13%, 04/01/36		16,372		20,786,078
Commonwealth Edison Co., 4.00%, 03/01/48 (Call 09/01/47)^(a)		4,941		5,277,664
Connecticut Light & Power Co. (The), 4.00%, 04/01/48 (Call 10/01/47)		6,966		7,458,068
Consolidated Edison Co. of New York Inc.
2.40%, 06/15/31 (Call 03/15/31)^(a)		8,086		7,698,117
3.60%, 06/15/61 (Call 12/15/60)^(a)		5,486		5,128,575
4.45%, 03/15/44 (Call 09/15/43)		8,081		8,677,327
4.63%, 12/01/54 (Call 06/01/54)		7,689		8,575,862
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)^(a)		9,873		10,128,848
Constellation Energy Generation LLC
3.25%, 06/01/25 (Call 05/01/25)^(a)		980		1,000,803
5.60%, 06/15/42 (Call 12/15/41)		6,336		7,014,508
Dominion Energy Inc.
3.90%, 10/01/25 (Call 07/01/25)^(a)		8,251		8,602,003
Series C, 2.25%, 08/15/31 (Call 05/15/31)^(a)		9,734		8,995,266
Series C, 3.38%, 04/01/30 (Call 01/01/30)^(a)		13,534		13,719,344
DTE Energy Co., Series F, 1.05%, 06/01/25
(Call 05/01/25)		2,060		1,967,962
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)		8,357		7,817,139
5.30%, 02/15/40		8,185		9,914,225


Security	Par (000)		Value

Electric (continued)
Duke Energy Corp.
2.45%, 06/01/30 (Call 03/01/30)^(a)	$	7,748	$	7,309,094
2.55%, 06/15/31 (Call 03/15/31)		8,336		7,803,675
2.65%, 09/01/26 (Call 06/01/26)^(a)		14,531		14,586,620
3.15%, 08/15/27 (Call 05/15/27)^(a)		8,103		8,266,741
3.30%, 06/15/41 (Call 12/15/40)		8,177		7,552,976
3.50%, 06/15/51 (Call 12/15/50)		6,582		6,033,619
3.75%, 09/01/46 (Call 03/01/46)		15,487		14,780,416
Duke Energy Florida LLC, 6.40%, 06/15/38^(a)		8,982		12,037,164
Emera U.S. Finance LP
3.55%, 06/15/26 (Call 03/15/26)		11,446		11,797,848
4.75%, 06/15/46 (Call 12/15/45)^(a)		12,698		13,523,516
Entergy Corp.
0.90%, 09/15/25 (Call 08/15/25)		4,790		4,531,598
2.95%, 09/01/26 (Call 06/01/26)^(a)		9,245		9,361,737
Entergy Louisiana LLC, 4.20%, 09/01/48 (Call 03/01/48)		6,574		7,151,989
Evergy Inc., 2.90%, 09/15/29 (Call 06/15/29)^(a)		5,510		5,447,302
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)^(a)		9,177		9,462,717
3.95%, 06/15/25 (Call 03/15/25)		6,478		6,747,257
4.05%, 04/15/30 (Call 01/15/30)		11,012		11,688,182
4.45%, 04/15/46 (Call 10/15/45)		8,749		9,429,165
4.70%, 04/15/50 (Call 10/15/49)^(a)		8,413		9,484,103
Exelon Generation Co. LLC, 6.25%, 10/01/39^(a)		11,788		13,715,735
Florida Power & Light Co.
2.45%, 02/03/32 (Call 11/03/31)		4,019		3,901,765
2.85%, 04/01/25 (Call 03/01/25)^(a)		6,581		6,720,411
2.88%, 12/04/51 (Call 06/04/51)		14,796		13,444,251
3.15%, 10/01/49 (Call 04/01/49)^(a)		6,717		6,395,537
3.95%, 03/01/48 (Call 09/01/47)		10,822		11,676,221
Georgia Power Co.
4.30%, 03/15/42^(a)		9,894		10,319,148
Series A, 3.25%, 03/15/51 (Call 09/15/50)^(a)		7,307		6,490,577
MidAmerican Energy Co.
3.65%, 04/15/29 (Call 01/15/29)^(a)		4,183		4,452,086
4.25%, 07/15/49 (Call 01/15/49)		8,715		9,665,067
NextEra Energy Capital Holdings Inc.
1.88%, 01/15/27 (Call 12/15/26)		28,190		27,267,175
1.90%, 06/15/28 (Call 04/15/28)		16,331		15,494,885
2.25%, 06/01/30 (Call 03/01/30)^(a)		16,034		14,861,608
2.44%, 01/15/32 (Call 10/15/31)		14,820		13,859,713
2.75%, 11/01/29 (Call 08/01/29)^(a)		7,725		7,577,873
3.55%, 05/01/27 (Call 02/01/27)^(a)		12,641		13,131,172
Pacific Gas and Electric Co.
2.10%, 08/01/27 (Call 06/01/27)^(a)		8,347		7,724,633
2.50%, 02/01/31 (Call 11/01/30)		23,959		21,310,543
3.00%, 06/15/28 (Call 04/15/28)^(a)		7,532		7,249,338
3.15%, 01/01/26^(a)		18,722		18,631,273
3.25%, 06/01/31 (Call 03/01/31)^(a)		7,051		6,647,619
3.30%, 12/01/27 (Call 09/01/27)^(a)		8,497		8,343,486
3.30%, 08/01/40 (Call 02/01/40)^(a)		11,729		9,869,878
3.45%, 07/01/25		7,615		7,661,724
3.50%, 08/01/50 (Call 02/01/50)^(a)		19,612		16,146,803
3.75%, 07/01/28^(a)		8,546		8,470,469
3.95%, 12/01/47 (Call 06/01/47)		10,902		9,443,240
4.50%, 07/01/40 (Call 01/01/40)		17,743		16,768,825
4.55%, 07/01/30 (Call 01/01/30)		34,039		34,925,189
4.95%, 07/01/50 (Call 01/01/50)^(a)		27,409		27,107,526
PacifiCorp., 2.90%, 06/15/52 (Call 12/15/51)^(a)		9,220		8,120,927


Security	Par (000)		Value

Electric (continued)
Public Service Co. of Colorado, 1.88%, 06/15/31 (Call 12/15/30)^(a)	$	7,513	$	6,934,853
Public Service Enterprise Group Inc., 2.45%, 11/15/31 (Call 08/15/31)^(a)		4,080		3,864,005
San Diego Gas & Electric Co.
Series VVV, 1.70%, 10/01/30 (Call 07/01/30)		3,603		3,274,723
Series WWW, 2.95%, 08/15/51 (Call 02/15/51)^(a)		7,255		6,499,390
Sempra Energy
3.25%, 06/15/27 (Call 03/15/27)		6,960		7,095,663
3.40%, 02/01/28 (Call 11/01/27)^(a)		10,738		11,051,046
3.80%, 02/01/38 (Call 08/01/37)^(a)		9,675		9,786,697
4.00%, 02/01/48 (Call 08/01/47)^(a)		3,537		3,540,578
6.00%, 10/15/39		9,044		11,481,599
Southern California Edison Co.
3.65%, 02/01/50 (Call 08/01/49)^(a)		12,533		11,868,161
4.00%, 04/01/47 (Call 10/01/46)		18,793		18,607,273
4.65%, 10/01/43 (Call 04/01/43)^(a)		3,711		3,947,261
Series 20A, 2.95%, 02/01/51 (Call 08/01/50)^(a)		8,281		6,967,020
Series C, 4.13%, 03/01/48 (Call 09/01/47)		12,857		12,933,619
Series E, 3.70%, 08/01/25 (Call 06/01/25)^(a)		5,006		5,189,349
Southern Co. (The)
3.25%, 07/01/26 (Call 04/01/26)^(a)		21,325		21,866,934
4.40%, 07/01/46 (Call 01/01/46)		19,961		20,997,158
Series A, 3.70%, 04/30/30 (Call 01/30/30)^(a)		9,132		9,390,773
Series B, 4.00%, 01/15/51 (Call 10/15/25)^(a)(b)		11,425		10,953,719
Virginia Electric & Power Co.
2.45%, 12/15/50 (Call 06/15/50)^(a)		9,965		8,089,095
2.95%, 11/15/51 (Call 05/15/51)^(a)		6,887		6,208,062
Series A, 3.15%, 01/15/26 (Call 10/15/25)^(a)		8,355		8,558,647
Series A, 3.50%, 03/15/27 (Call 12/15/26)^(a)		7,328		7,663,503


				1,021,681,447

Electrical Components & Equipment — 0.1%
Emerson Electric Co.
0.88%, 10/15/26 (Call 09/15/26)^(a)		10,302		9,706,980
2.00%, 12/21/28 (Call 10/21/28)^(a)		8,214		7,927,494
2.20%, 12/21/31 (Call 09/21/31)^(a)		7,570		7,199,275
2.80%, 12/21/51 (Call 06/21/51)		10,433		9,082,773


				33,916,522

Electronics — 0.3%
Agilent Technologies Inc., 2.30%, 03/12/31 (Call 12/12/30)		8,474		7,920,394
Amphenol Corp.
2.20%, 09/15/31 (Call 06/15/31)		7,544		6,957,766
2.80%, 02/15/30 (Call 11/15/29)		7,995		7,833,002
Honeywell International Inc.
1.10%, 03/01/27 (Call 02/01/27)^(a)		12,777		12,079,580
1.35%, 06/01/25 (Call 05/01/25)^(a)		12,366		12,073,014
1.75%, 09/01/31 (Call 06/01/31)^(a)		14,923		13,753,952
1.95%, 06/01/30 (Call 03/01/30)^(a)		8,044		7,576,363
2.50%, 11/01/26 (Call 08/01/26)^(a)		10,232		10,361,444
2.70%, 08/15/29 (Call 05/15/29)^(a)		7,956		8,009,768
2.80%, 06/01/50 (Call 12/01/49)^(a)		6,841		6,488,877


				93,054,160

Environmental Control — 0.1%
Republic Services Inc.
1.75%, 02/15/32 (Call 11/15/31)^(a)		6,642		5,914,840
3.95%, 05/15/28 (Call 02/15/28)^(a)		11,782		12,537,364
Waste Connections Inc., 2.95%, 01/15/52 (Call 07/15/51)		8,556		7,395,314


Security	Par (000)		Value

Environmental Control (continued)
Waste Management Inc.
1.50%, 03/15/31 (Call 12/15/30)^(a)	$	14,108	$	12,605,593
3.15%, 11/15/27 (Call 08/15/27)^(a)		7,072		7,273,073


				45,726,184

Food — 1.0%
Campbell Soup Co.
3.95%, 03/15/25 (Call 01/15/25)^(a)		6,095		6,354,969
4.15%, 03/15/28 (Call 12/15/27)		10,374		11,083,680
Conagra Brands Inc.
1.38%, 11/01/27 (Call 09/01/27)^(a)		11,685		10,725,833
4.60%, 11/01/25 (Call 09/01/25)^(a)		8,762		9,320,728
4.85%, 11/01/28 (Call 08/01/28)^(a)		10,629		11,677,101
5.30%, 11/01/38 (Call 05/01/38)^(a)		12,029		13,852,108
5.40%, 11/01/48 (Call 05/01/48)^(a)		10,664		12,892,393
General Mills Inc.
2.88%, 04/15/30 (Call 01/15/30)^(a)		9,055		9,051,082
3.20%, 02/10/27 (Call 11/10/26)^(a)		6,142		6,314,422
4.00%, 04/17/25 (Call 02/17/25)^(a)		6,879		7,199,098
4.20%, 04/17/28 (Call 01/17/28)		13,217		14,221,286
Hormel Foods Corp.
1.70%, 06/03/28 (Call 04/03/28)^(a)		8,642		8,221,408
1.80%, 06/11/30 (Call 03/11/30)^(a)		12,697		11,851,009
JM Smucker Co. (The)
2.13%, 03/15/32 (Call 12/15/31)		3,659		3,348,798
3.50%, 03/15/25		7,711		7,986,768
Kellogg Co., 3.25%, 04/01/26		8,013		8,220,851
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		10,395		10,479,187
3.95%, 01/15/50 (Call 07/15/49)^(a)		6,763		6,936,006
4.45%, 02/01/47 (Call 08/01/46)		11,015		11,966,621
McCormick & Co. Inc./MD, 3.40%, 08/15/27 (Call 05/15/27)^(a)		7,617		7,903,024
Mondelez International Inc.
1.50%, 05/04/25 (Call 04/04/25)^(a)		6,376		6,205,091
2.63%, 09/04/50 (Call 03/04/50)		10,516		8,812,807
2.75%, 04/13/30 (Call 01/13/30)		13,865		13,673,832
Sysco Corp.
3.15%, 12/14/51 (Call 06/14/51)^(a)		8,819		7,696,577
3.25%, 07/15/27 (Call 04/15/27)^(a)		5,022		5,168,897
3.30%, 07/15/26 (Call 04/15/26)		8,666		8,926,760
3.75%, 10/01/25 (Call 07/01/25)		6,205		6,450,243
5.95%, 04/01/30 (Call 01/01/30)^(a)		10,737		12,819,859
6.60%, 04/01/50 (Call 10/01/49)^(a)		13,502		18,794,997
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)		15,385		15,981,418
4.00%, 03/01/26 (Call 01/01/26)^(a)		9,279		9,718,373
4.35%, 03/01/29 (Call 12/01/28)^(a)		11,364		12,308,451
4.55%, 06/02/47 (Call 12/02/46)^(a)		7,205		7,991,139
5.10%, 09/28/48 (Call 03/28/48)^(a)		13,973		16,763,541


				340,918,357

Gas — 0.2%
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)		7,664		8,010,187
NiSource Inc.
0.95%, 08/15/25 (Call 07/15/25)		10,379		9,801,097
1.70%, 02/15/31 (Call 11/15/30)^(a)		7,507		6,581,701
2.95%, 09/01/29 (Call 06/01/29)		7,045		6,920,877
3.49%, 05/15/27 (Call 02/15/27)		11,009		11,345,806
3.60%, 05/01/30 (Call 02/01/30)		8,867		9,078,752
3.95%, 03/30/48 (Call 09/30/47)^(a)		7,237		7,086,338


Security	Par (000)		Value

Gas (continued)
4.38%, 05/15/47 (Call 11/15/46)	$	10,313	$	10,792,836
4.80%, 02/15/44 (Call 08/15/43)		6,645		7,206,283


				76,823,877

Hand & Machine Tools — 0.0%
Stanley Black & Decker Inc.
2.30%, 03/15/30 (Call 12/15/29)^(a)		9,633		9,269,643
2.75%, 11/15/50 (Call 05/15/50)^(a)		5,861		5,037,152


				14,306,795

Health Care - Products — 1.1%
Abbott Laboratories
2.95%, 03/15/25 (Call 12/15/24)		5,585		5,721,214
3.75%, 11/30/26 (Call 08/30/26)^(a)		17,985		19,178,965
4.75%, 11/30/36 (Call 05/30/36)		17,791		21,160,864
4.90%, 11/30/46 (Call 05/30/46)^(a)		29,847		36,847,220
Baxter International Inc.
1.92%, 02/01/27 (Call 01/01/27)^(a)(c)		20,596		19,957,061
2.27%, 12/01/28 (Call 10/01/28)^(c)		15,685		15,061,880
2.54%, 02/01/32 (Call 11/01/31)^(a)(c)		4,961		4,755,184
2.60%, 08/15/26 (Call 05/15/26)		803		808,599
3.13%, 12/01/51 (Call 06/01/51)^(a)(c)		9,184		8,243,226
Boston Scientific Corp.
2.65%, 06/01/30 (Call 03/01/30)		11,532		11,176,316
3.75%, 03/01/26 (Call 01/01/26)^(a)		7,229		7,535,724
4.00%, 03/01/29 (Call 12/01/28)		8,440		8,961,825
4.55%, 03/01/39 (Call 09/01/38)^(a)		6,237		6,860,446
4.70%, 03/01/49 (Call 09/01/48)		11,624		13,212,928
Danaher Corp.
2.60%, 10/01/50 (Call 04/01/50)		8,607		7,349,267
2.80%, 12/10/51 (Call 06/10/51)		11,430		10,117,301
DH Europe Finance II Sarl
2.60%, 11/15/29 (Call 08/15/29)^(a)		11,631		11,461,558
3.25%, 11/15/39 (Call 05/15/39)^(a)		9,009		8,832,305
3.40%, 11/15/49 (Call 05/15/49)^(a)		9,143		8,958,305
Medtronic Inc.
3.50%, 03/15/25^(a)		11,895		12,390,314
4.38%, 03/15/35^(a)		20,179		23,040,937
4.63%, 03/15/45^(a)		16,950		19,852,516
PerkinElmer Inc.
2.55%, 03/15/31 (Call 12/15/30)^(a)		4,500		4,290,554
3.30%, 09/15/29 (Call 06/15/29)		8,294		8,317,354
Stryker Corp.
1.95%, 06/15/30 (Call 03/15/30)^(a)		12,805		11,855,805
3.38%, 11/01/25 (Call 08/01/25)		6,066		6,256,285
3.50%, 03/15/26 (Call 12/15/25)		11,509		11,948,990
4.63%, 03/15/46 (Call 09/15/45)^(a)		7,567		8,680,990
Thermo Fisher Scientific Inc.
2.00%, 10/15/31 (Call 07/15/31)^(a)		13,430		12,451,411
2.60%, 10/01/29 (Call 07/01/29)		10,078		9,953,934
2.80%, 10/15/41 (Call 04/15/41)		13,632		12,531,598
4.10%, 08/15/47 (Call 02/15/47)^(a)		7,807		8,683,401
Zimmer Biomet Holdings Inc., 2.60%, 11/24/31 (Call 08/24/31)^(a)		12,024		11,339,816


				387,794,093

Health Care - Services — 2.1%
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)^(a)		11,574		11,593,920
6.63%, 06/15/36^(a)		9,712		12,930,485
Anthem Inc.
1.50%, 03/15/26 (Call 02/15/26)^(a)		8,211		7,925,553


Security	Par (000)		Value

Health Care - Services (continued)
2.25%, 05/15/30 (Call 02/15/30)	$	11,494	$	10,876,807
2.55%, 03/15/31 (Call 12/15/30)^(a)		8,847		8,525,833
2.88%, 09/15/29 (Call 06/15/29)		5,697		5,684,661
3.13%, 05/15/50 (Call 11/15/49)^(a)		10,568		9,609,427
3.60%, 03/15/51 (Call 09/15/50)^(a)		13,027		12,802,678
3.65%, 12/01/27 (Call 09/01/27)		13,821		14,480,859
3.70%, 09/15/49 (Call 03/15/49)		8,592		8,556,994
4.10%, 03/01/28 (Call 12/01/27)		11,282		12,023,760
4.38%, 12/01/47 (Call 06/01/47)		13,849		15,232,519
4.55%, 03/01/48 (Call 09/01/47)		8,196		9,225,127
4.63%, 05/15/42^(a)		8,372		9,367,360
4.65%, 01/15/43		8,820		9,860,861
4.65%, 08/15/44 (Call 02/15/44)^(a)		8,547		9,633,396
Ascension Health
3.95%, 11/15/46^(a)		6,026		6,755,288
Series B, 2.53%, 11/15/29 (Call 08/15/29)^(a)		7,971		7,965,663
CommonSpirit Health
3.35%, 10/01/29 (Call 04/01/29)		11,078		11,283,191
4.19%, 10/01/49 (Call 04/01/49)^(a)		4,723		4,989,687
HCA Inc.
2.38%, 07/15/31 (Call 04/15/31)^(a)		10,841		9,972,125
3.50%, 07/15/51 (Call 01/15/51)^(a)		14,930		13,280,983
4.13%, 06/15/29 (Call 03/15/29)		13,007		13,648,259
4.50%, 02/15/27 (Call 08/15/26)^(a)		12,881		13,650,018
5.13%, 06/15/39 (Call 12/15/38)		10,817		12,101,697
5.25%, 04/15/25		10,722		11,500,953
5.25%, 06/15/26 (Call 12/15/25)^(a)		16,294		17,656,437
5.25%, 06/15/49 (Call 12/15/48)^(a)		19,499		22,188,164
5.50%, 06/15/47 (Call 12/15/46)^(a)		16,958		19,842,196
Humana Inc.
1.35%, 02/03/27 (Call 01/03/27)		18,644		17,551,982
2.15%, 02/03/32 (Call 11/03/31)^(a)		5,658		5,197,463
4.95%, 10/01/44 (Call 04/01/44)		6,346		7,351,381
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		12,286		13,709,838
Series 2019, 3.27%, 11/01/49 (Call 05/01/49)		11,322		11,010,918
Series 2021, 2.81%, 06/01/41 (Call 12/01/40)^(a)		12,128		11,206,256
Series 2021, 3.00%, 06/01/51 (Call 12/01/50)		11,926		11,045,264
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)^(a)		9,286		10,227,436
Quest Diagnostics Inc., 2.95%, 06/30/30 (Call 03/30/30)		10,047		9,913,306
UnitedHealth Group Inc.
1.15%, 05/15/26 (Call 04/15/26)^(a)		11,516		11,048,272
2.00%, 05/15/30^(a)		14,070		13,297,048
2.30%, 05/15/31 (Call 02/15/31)^(a)		12,469		12,007,398
2.75%, 05/15/40 (Call 11/15/39)^(a)		10,206		9,406,561
2.88%, 08/15/29^(a)		10,030		10,156,616
2.90%, 05/15/50 (Call 11/15/49)		12,545		11,423,819
2.95%, 10/15/27^(a)		8,807		9,047,189
3.05%, 05/15/41 (Call 11/15/40)		15,663		14,981,561
3.10%, 03/15/26^(a)		9,358		9,678,623
3.13%, 05/15/60 (Call 11/15/59)^(a)		9,890		9,006,664
3.25%, 05/15/51 (Call 11/15/50)		19,672		19,081,226
3.45%, 01/15/27^(a)		7,277		7,648,246
3.50%, 08/15/39 (Call 02/15/39)^(a)		11,301		11,541,180
3.70%, 08/15/49 (Call 02/15/49)		13,569		13,981,978
3.75%, 07/15/25^(a)		15,710		16,475,397
3.75%, 10/15/47 (Call 04/15/47)		10,512		10,923,912
3.85%, 06/15/28^(a)		11,601		12,409,604


Security	Par (000)		Value

Health Care - Services (continued)
3.88%, 12/15/28^(a)	$	8,646	$	9,307,545
3.88%, 08/15/59 (Call 02/15/59)^(a)		11,411		12,004,630
4.20%, 01/15/47 (Call 07/15/46)		6,986		7,733,742
4.25%, 03/15/43 (Call 09/15/42)^(a)		7,462		8,271,778
4.25%, 06/15/48 (Call 12/15/47)^(a)		11,069		12,353,498
4.45%, 12/15/48 (Call 06/15/48)^(a)		11,315		13,026,179
4.63%, 07/15/35		8,639		9,992,659
4.75%, 07/15/45^(a)		19,521		23,112,280
5.80%, 03/15/36^(a)		9,645		12,359,063
6.88%, 02/15/38^(a)		11,174		15,860,754
Universal Health Services Inc.
2.65%, 10/15/30 (Call 07/15/30)^(a)(c)		6,132		5,761,497
2.65%, 01/15/32 (Call 10/15/31)^(a)(c)		4,500		4,166,509


				766,444,173

Holding Companies - Diversified — 0.3%
Ares Capital Corp.
2.15%, 07/15/26 (Call 06/15/26)		10,625		10,037,042
2.88%, 06/15/28 (Call 04/15/28)		10,811		10,008,097
3.25%, 07/15/25 (Call 06/15/25)^(a)		14,156		14,016,967
3.88%, 01/15/26 (Call 12/15/25)^(a)		11,336		11,474,860
Blackstone Private Credit Fund
2.63%, 12/15/26 (Call 11/15/26)^(c)		7,203		6,699,634
3.25%, 03/15/27 (Call 02/15/27)^(c)		20,989		20,158,358
Blackstone Secured Lending Fund, 3.63%, 01/15/26 (Call 12/15/25)^(a)		8,107		8,098,050
FS KKR Capital Corp.
3.13%, 10/12/28 (Call 08/12/28)^(a)		8,499		7,903,305
3.40%, 01/15/26 (Call 12/15/25)		8,193		8,078,317
Owl Rock Capital Corp.
2.88%, 06/11/28 (Call 04/11/28)		9,935		8,997,056
3.40%, 07/15/26 (Call 06/15/26)		9,125		8,757,989


				114,229,675

Home Builders — 0.0%
Lennar Corp., 4.75%, 11/29/27 (Call 05/29/27)^(a)		9,138		9,933,554


Household Products & Wares — 0.0%
Kimberly-Clark Corp., 3.10%, 03/26/30 (Call 12/26/29)^(a)		8,829		9,127,685


Insurance — 1.9%
Aflac Inc., 3.60%, 04/01/30 (Call 01/01/30)^(a)		9,345		9,907,129
American International Group Inc.
2.50%, 06/30/25 (Call 05/30/25)^(a)		15,148		15,244,785
3.40%, 06/30/30 (Call 03/30/30)^(a)		15,934		16,355,590
3.75%, 07/10/25 (Call 04/10/25)		7,400		7,698,836
3.88%, 01/15/35 (Call 07/15/34)		12,396		12,924,046
3.90%, 04/01/26 (Call 01/01/26)		15,083		15,848,590
4.20%, 04/01/28 (Call 01/01/28)		7,649		8,267,673
4.38%, 06/30/50 (Call 12/30/49)^(a)		9,842		10,914,599
4.38%, 01/15/55 (Call 07/15/54)^(a)		8,360		9,075,576
4.50%, 07/16/44 (Call 01/16/44)		23,753		26,328,490
4.75%, 04/01/48 (Call 10/01/47)^(a)		7,790		9,017,653
4.80%, 07/10/45 (Call 01/10/45)		8,599		9,918,114
Aon Corp.
2.80%, 05/15/30 (Call 02/15/30)^(a)		10,840		10,657,156
3.75%, 05/02/29 (Call 02/02/29)^(a)		6,166		6,454,426
Aon Corp./Aon Global Holdings PLC, 3.90%, 02/28/52 (Call 08/28/51)		4,115		4,126,766
Aon PLC, 3.88%, 12/15/25 (Call 09/15/25)^(a)		6,589		6,882,976


Security	Par (000)		Value

Insurance (continued)
Arch Capital Group Ltd., 3.64%, 06/30/50 (Call 12/30/49)	$	8,674	$	8,275,338
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)		15,233		15,981,705
Berkshire Hathaway Finance Corp.
1.45%, 10/15/30 (Call 07/15/30)^(a)		7,478		6,823,229
2.50%, 01/15/51 (Call 07/15/50)		8,327		6,898,298
2.85%, 10/15/50 (Call 04/15/50)		17,204		15,019,574
4.20%, 08/15/48 (Call 02/15/48)		23,536		25,928,851
4.25%, 01/15/49 (Call 07/15/48)		16,967		18,880,448
5.75%, 01/15/40		9,018		11,759,928
Berkshire Hathaway Inc.
3.13%, 03/15/26 (Call 12/15/25)^(a)		22,620		23,435,978
4.50%, 02/11/43^(a)		9,833		11,179,965
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		875		907,022
4.70%, 06/22/47 (Call 12/22/46)		9,625		9,607,372
Chubb Corp. (The), 6.00%, 05/11/37^(a)		8,169		10,823,737
Chubb INA Holdings Inc.
1.38%, 09/15/30 (Call 06/15/30)		1,000		897,539
3.05%, 12/15/61 (Call 06/15/61)		12,245		10,971,689
3.15%, 03/15/25^(a)		1,396		1,437,682
3.35%, 05/03/26 (Call 02/03/26)		7,274		7,548,069
4.35%, 11/03/45 (Call 05/03/45)^(a)		8,555		9,673,085
Equitable Holdings Inc.
4.35%, 04/20/28 (Call 01/20/28)		17,201		18,407,072
5.00%, 04/20/48 (Call 10/20/47)		13,699		15,263,985
Everest Reinsurance Holdings Inc.
3.13%, 10/15/52 (Call 04/15/52)		11,699		10,233,792
3.50%, 10/15/50 (Call 04/15/50)^(a)		7,743		7,247,194
Hartford Financial Services Group Inc. (The), 3.60%, 08/19/49 (Call 02/19/49)		6,473		6,296,023
Manulife Financial Corp.
4.15%, 03/04/26^(a)		3,210		3,404,065
5.38%, 03/04/46^(a)		7,762		9,840,689
Marsh & McLennan Companies Inc.
2.25%, 11/15/30 (Call 08/15/30)		7,449		7,001,664
4.38%, 03/15/29 (Call 12/15/28)^(a)		17,191		18,780,559
4.90%, 03/15/49 (Call 09/15/48)^(a)		11,331		13,581,334
MetLife Inc.
4.05%, 03/01/45^(a)		9,120		9,897,478
4.13%, 08/13/42		8,094		8,711,043
4.55%, 03/23/30 (Call 12/23/29)^(a)		11,589		12,991,619
4.60%, 05/13/46 (Call 11/13/45)		7,302		8,591,282
4.88%, 11/13/43		10,102		12,037,041
5.70%, 06/15/35^(a)		10,567		13,303,091
5.88%, 02/06/41		7,111		9,236,230
6.38%, 06/15/34^(a)		8,014		10,500,188
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)		8,650		9,438,409
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)^(a)		12,870		13,019,329
3.91%, 12/07/47 (Call 06/07/47)^(a)		9,494		9,830,920
3.94%, 12/07/49 (Call 06/07/49)		10,843		11,370,367
4.35%, 02/25/50 (Call 08/25/49)^(a)		9,476		10,533,359
4.60%, 05/15/44^(a)		7,789		8,839,438
5.70%, 12/14/36^(a)		8,913		11,224,709
Travelers Companies Inc. (The)
3.05%, 06/08/51 (Call 12/08/50)		6,159		5,721,611
5.35%, 11/01/40		8,370		10,456,587


Security	Par (000)		Value

Insurance (continued)
6.25%, 06/15/37^(a)	$	8,070	$	10,763,801


				672,194,793

Internet — 1.9%
Alphabet Inc.
0.45%, 08/15/25 (Call 07/15/25)		8,489		8,084,761
0.80%, 08/15/27 (Call 06/15/27)^(a)		12,900		11,974,398
1.10%, 08/15/30 (Call 05/15/30)^(a)		21,309		19,275,412
1.90%, 08/15/40 (Call 02/15/40)^(a)		11,628		9,765,012
2.00%, 08/15/26 (Call 05/15/26)^(a)		22,296		22,331,344
2.05%, 08/15/50 (Call 02/15/50)		23,176		18,742,566
2.25%, 08/15/60 (Call 02/15/60)^(a)		19,035		15,318,468
Amazon.com Inc.
0.80%, 06/03/25 (Call 05/03/25)		10,419		10,047,868
1.00%, 05/12/26 (Call 04/12/26)^(a)		30,139		28,988,347
1.20%, 06/03/27 (Call 04/03/27)		14,836		14,087,999
1.50%, 06/03/30 (Call 03/03/30)		19,085		17,669,166
1.65%, 05/12/28 (Call 03/12/28)		24,402		23,404,612
2.10%, 05/12/31 (Call 02/12/31)		32,749		31,456,456
2.50%, 06/03/50 (Call 12/03/49)^(a)		26,064		22,442,475
2.70%, 06/03/60 (Call 12/03/59)		14,736		12,594,137
2.88%, 05/12/41 (Call 11/12/40)		19,227		18,329,366
3.10%, 05/12/51 (Call 11/12/50)		33,741		32,536,672
3.15%, 08/22/27 (Call 05/22/27)^(a)		34,274		35,790,580
3.25%, 05/12/61 (Call 11/12/60)^(a)		19,138		18,216,817
3.88%, 08/22/37 (Call 02/22/37)		29,106		31,904,367
4.05%, 08/22/47 (Call 02/22/47)		33,849		37,771,666
4.25%, 08/22/57 (Call 02/22/57)^(a)		21,370		24,710,928
4.80%, 12/05/34 (Call 06/05/34)^(a)		11,103		13,356,220
4.95%, 12/05/44 (Call 06/05/44)^(a)		14,756		18,312,373
5.20%, 12/03/25 (Call 09/03/25)		9,547		10,523,270
Booking Holdings Inc.
3.60%, 06/01/26 (Call 03/01/26)^(a)		8,342		8,723,818
4.63%, 04/13/30 (Call 01/13/30)		15,465		17,369,179
eBay Inc.
1.40%, 05/10/26 (Call 04/10/26)		7,818		7,490,140
1.90%, 03/11/25 (Call 02/11/25)		5,760		5,683,305
2.60%, 05/10/31 (Call 02/10/31)		6,371		6,075,541
2.70%, 03/11/30 (Call 12/11/29)^(a)		6,324		6,137,935
3.60%, 06/05/27 (Call 03/05/27)^(a)		12,466		13,060,980
3.65%, 05/10/51 (Call 11/10/50)		10,763		10,236,364
4.00%, 07/15/42 (Call 01/15/42)^(a)		7,872		7,948,928
Expedia Group Inc.
2.95%, 03/15/31 (Call 12/15/30)		12,663		12,143,689
3.25%, 02/15/30 (Call 11/15/29)^(a)		8,722		8,601,092
3.80%, 02/15/28 (Call 11/15/27)^(a)		7,745		7,961,156
4.63%, 08/01/27 (Call 05/01/27)		10,542		11,283,058
5.00%, 02/15/26 (Call 11/15/25)		7,507		8,077,222
Netflix Inc.
4.38%, 11/15/26^(a)		4,994		5,272,016
4.88%, 04/15/28		13,060		14,023,436
5.88%, 11/15/28		15,701		17,762,149
6.38%, 05/15/29		6,362		7,397,352


				682,882,640

Lodging — 0.2%
Las Vegas Sands Corp.
3.50%, 08/18/26 (Call 06/18/26)		7,329		7,129,562
3.90%, 08/08/29 (Call 05/08/29)^(a)		2,694		2,577,152
Marriott International Inc./MD
Series FF, 4.63%, 06/15/30 (Call 03/15/30)		9,399		10,151,330


Security	Par (000)		Value

Lodging (continued)
Series GG, 3.50%, 10/15/32 (Call 07/15/32)	$	10,388	$	10,348,023
Series HH, 2.85%, 04/15/31 (Call 01/15/31)		9,404		8,966,109
Series R, 3.13%, 06/15/26 (Call 03/15/26)^(a)		11,378		11,553,378
Sands China Ltd.
3.80%, 01/08/26 (Call 12/08/25)^(a)		1,500		1,426,313
5.13%, 08/08/25 (Call 06/08/25)^(a)		12,389		12,288,782
5.40%, 08/08/28 (Call 05/08/28)^(a)		15,005		14,731,142


				79,171,791

Machinery — 0.5%
Caterpillar Financial Services Corp.
0.80%, 11/13/25^(a)		10,766		10,238,170
0.90%, 03/02/26		5,636		5,368,625
1.10%, 09/14/27^(a)		7,163		6,720,235
Caterpillar Inc.
2.60%, 04/09/30 (Call 01/09/30)^(a)		9,291		9,289,579
3.25%, 09/19/49 (Call 03/19/49)^(a)		12,585		12,388,049
3.25%, 04/09/50 (Call 10/09/49)		11,513		11,333,977
3.80%, 08/15/42		12,825		13,620,264
5.20%, 05/27/41		7,599		9,553,334
Deere & Co.
3.75%, 04/15/50 (Call 10/15/49)^(a)		9,496		10,224,056
3.90%, 06/09/42 (Call 12/09/41)^(a)		10,495		11,388,295
John Deere Capital Corp.
0.70%, 01/15/26		6,649		6,306,334
3.45%, 03/13/25		6,276		6,544,993
Otis Worldwide Corp.
2.06%, 04/05/25 (Call 03/05/25)		6,778		6,709,153
2.57%, 02/15/30 (Call 11/15/29)		15,844		15,299,016
3.11%, 02/15/40 (Call 08/15/39)		8,450		7,816,484
Westinghouse Air Brake Technologies Corp.
3.45%, 11/15/26 (Call 08/15/26)^(a)		4,950		5,039,657
4.95%, 09/15/28 (Call 06/15/28)		13,244		14,405,799


				162,246,020

Manufacturing — 0.6%
3M Co.
2.38%, 08/26/29 (Call 05/26/29)^(a)		6,851		6,698,928
2.88%, 10/15/27 (Call 07/15/27)^(a)		8,412		8,636,738
3.25%, 08/26/49 (Call 02/26/49)^(a)		10,598		10,093,695
3.38%, 03/01/29 (Call 12/01/28)^(a)		10,383		10,808,534
4.00%, 09/14/48 (Call 03/14/48)^(a)		10,237		10,939,262
Eaton Corp., 4.15%, 11/02/42		8,971		9,605,941
GE Capital Funding LLC, 4.55%, 05/15/32 (Call 02/15/32)^(a)		10,016		11,128,352
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35^(a)		67,607		75,977,457
General Electric Co.
5.88%, 01/14/38^(a)		7,063		8,835,300
6.75%, 03/15/32		24,461		31,570,144
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)^(a)		9,077		9,276,145
3.90%, 09/01/42 (Call 03/01/42)^(a)		10,378		10,945,091
Parker-Hannifin Corp.
3.25%, 06/14/29 (Call 03/14/29)^(a)		8,311		8,468,805
4.00%, 06/14/49 (Call 12/14/48)^(a)		6,773		7,125,652
Trane Technologies Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)^(a)		9,256		9,710,600


				229,820,644


Security	Par (000)		Value

Media — 4.7%
Charter Communications Operating LLC/Charter Communications Operating Capital
2.25%, 01/15/29 (Call 11/15/28)^(a)	$	13,225	$	12,326,507
2.30%, 02/01/32 (Call 11/01/31)		7,815		6,939,071
2.80%, 04/01/31 (Call 01/01/31)		14,679		13,709,867
3.50%, 06/01/41 (Call 12/01/40)^(a)		18,098		15,591,680
3.50%, 03/01/42 (Call 09/01/41)^(a)		13,425		11,553,563
3.70%, 04/01/51 (Call 10/01/50)^(a)		20,468		17,309,767
3.75%, 02/15/28 (Call 11/15/27)^(a)		10,227		10,461,874
3.85%, 04/01/61 (Call 10/01/60)^(a)		19,319		16,015,708
3.90%, 06/01/52 (Call 12/01/51)		25,375		22,151,606
3.95%, 06/30/62 (Call 12/30/61)		13,323		11,154,864
4.20%, 03/15/28 (Call 12/15/27)^(a)		13,278		13,894,472
4.40%, 12/01/61 (Call 06/01/61)		12,504		11,210,956
4.80%, 03/01/50 (Call 09/01/49)^(a)		27,813		27,199,409
4.91%, 07/23/25 (Call 04/23/25)^(a)		36,072		38,224,647
5.05%, 03/30/29 (Call 12/30/28)		12,366		13,499,055
5.13%, 07/01/49 (Call 01/01/49)		12,813		13,058,775
5.38%, 04/01/38 (Call 10/01/37)^(a)		7,300		7,738,954
5.38%, 05/01/47 (Call 11/01/46)^(a)		23,788		25,114,759
5.75%, 04/01/48 (Call 10/01/47)^(a)		23,070		25,493,852
6.38%, 10/23/35 (Call 04/23/35)		19,796		23,635,133
6.48%, 10/23/45 (Call 04/23/45)		33,653		40,181,113
Comcast Corp.
1.50%, 02/15/31 (Call 11/15/30)		16,708		14,960,970
1.95%, 01/15/31 (Call 10/15/30)		15,247		14,202,892
2.35%, 01/15/27 (Call 10/15/26)^(a)		11,889		11,853,079
2.45%, 08/15/52 (Call 02/15/52)^(a)		16,194		13,029,678
2.65%, 02/01/30 (Call 11/01/29)		15,769		15,558,501
2.65%, 08/15/62 (Call 02/15/62)^(a)		11,869		9,355,596
2.80%, 01/15/51 (Call 07/15/50)^(a)		18,146		15,540,196
2.89%, 11/01/51 (Call 05/01/51)^(a)(c)		47,369		41,059,203
2.94%, 11/01/56 (Call 05/01/56)^(c)		52,998		44,832,232
2.99%, 11/01/63 (Call 05/01/63)^(c)		37,286		31,049,726
3.15%, 03/01/26 (Call 12/01/25)^(a)		22,690		23,416,073
3.15%, 02/15/28 (Call 11/15/27)^(a)		13,254		13,604,790
3.20%, 07/15/36 (Call 01/15/36)		10,022		9,891,200
3.25%, 11/01/39 (Call 05/01/39)^(a)		15,986		15,431,097
3.30%, 02/01/27 (Call 11/01/26)		11,730		12,171,827
3.30%, 04/01/27 (Call 02/01/27)^(a)		10,315		10,718,468
3.38%, 08/15/25 (Call 05/15/25)^(a)		13,749		14,237,930
3.40%, 04/01/30 (Call 01/01/30)^(a)		14,783		15,362,585
3.40%, 07/15/46 (Call 01/15/46)		15,650		15,013,920
3.45%, 02/01/50 (Call 08/01/49)		19,547		18,716,604
3.55%, 05/01/28 (Call 02/01/28)		8,727		9,155,436
3.75%, 04/01/40 (Call 10/01/39)^(a)		15,522		15,947,086
3.90%, 03/01/38 (Call 09/01/37)^(a)		14,730		15,436,162
3.95%, 10/15/25 (Call 08/15/25)^(a)		25,727		27,167,264
3.97%, 11/01/47 (Call 05/01/47)		19,003		19,707,738
4.00%, 08/15/47 (Call 02/15/47)		9,498		9,883,979
4.00%, 03/01/48 (Call 09/01/47)^(a)		10,994		11,443,606
4.00%, 11/01/49 (Call 05/01/49)		18,064		18,810,260
4.05%, 11/01/52 (Call 05/01/52)^(a)		11,921		12,540,221
4.15%, 10/15/28 (Call 07/15/28)		36,457		39,399,762
4.20%, 08/15/34 (Call 02/15/34)^(a)		8,766		9,597,317
4.25%, 10/15/30 (Call 07/15/30)^(a)		15,120		16,632,097
4.25%, 01/15/33		15,512		17,088,629
4.40%, 08/15/35 (Call 02/15/35)^(a)		8,901		9,932,590
4.60%, 10/15/38 (Call 04/15/38)^(a)		8,333		9,363,977
4.60%, 08/15/45 (Call 02/15/45)		9,904		11,156,330


Security	Par (000)		Value

Media (continued)
4.70%, 10/15/48 (Call 04/15/48)	$	19,085	$	21,946,447
4.95%, 10/15/58 (Call 04/15/58)^(a)		9,704		11,841,486
5.65%, 06/15/35		8,141		10,115,193
7.05%, 03/15/33		7,618		10,254,856
Discovery Communications LLC
3.63%, 05/15/30 (Call 02/15/30)^(a)		12,212		12,262,879
3.95%, 03/20/28 (Call 12/20/27)		19,864		20,515,905
4.00%, 09/15/55 (Call 03/15/55)^(a)		14,315		12,990,497
4.13%, 05/15/29 (Call 02/15/29)^(a)		6,074		6,339,720
4.65%, 05/15/50 (Call 11/15/49)^(a)		6,306		6,431,094
5.20%, 09/20/47 (Call 03/20/47)^(a)		12,749		13,889,351
5.30%, 05/15/49 (Call 11/15/48)		8,513		9,454,636
Fox Corp.
4.71%, 01/25/29 (Call 10/25/28)^(a)		23,677		25,842,323
5.48%, 01/25/39 (Call 07/25/38)		9,640		11,223,716
5.58%, 01/25/49 (Call 07/25/48)^(a)		16,444		19,826,452
Paramount Global
4.00%, 01/15/26 (Call 10/15/25)		8,729		9,117,638
4.38%, 03/15/43^(a)		14,942		14,856,185
4.75%, 05/15/25 (Call 04/15/25)		4,464		4,766,473
4.95%, 01/15/31 (Call 10/15/30)^(a)		8,872		9,774,447
4.95%, 05/19/50 (Call 11/19/49)^(a)		13,349		14,585,491
5.85%, 09/01/43 (Call 03/01/43)^(a)		13,088		15,726,381
6.88%, 04/30/36^(a)		10,263		13,086,039
7.88%, 07/30/30		8,614		11,215,982
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)^(a)		13,952		13,189,092
5.50%, 09/01/41 (Call 03/01/41)		12,077		12,882,218
5.88%, 11/15/40 (Call 05/15/40)^(a)		13,123		14,666,282
6.55%, 05/01/37		14,558		17,483,283
6.75%, 06/15/39		16,379		19,848,395
7.30%, 07/01/38^(a)		14,729		18,478,039
Time Warner Entertainment Co. LP, 8.38%, 07/15/33^(a)		10,690		14,530,192
TWDC Enterprises 18 Corp.
1.85%, 07/30/26^(a)		8,665		8,508,380
2.95%, 06/15/27^(a)		4,463		4,565,283
3.00%, 02/13/26^(a)		8,457		8,682,244
3.15%, 09/17/25^(a)		7,293		7,496,879
4.13%, 06/01/44		10,992		11,845,387
ViacomCBS Inc., 4.20%, 05/19/32 (Call 02/19/32)^(a)		8,527		8,900,552
Walt Disney Co. (The)
1.75%, 01/13/26^(a)		15,008		14,720,373
2.00%, 09/01/29 (Call 06/01/29)		22,112		21,073,777
2.20%, 01/13/28^(a)		11,852		11,604,955
2.65%, 01/13/31^(a)		22,025		21,809,596
2.75%, 09/01/49 (Call 03/01/49)^(a)		21,084		18,412,545
3.35%, 03/24/25^(a)		14,062		14,571,569
3.50%, 05/13/40 (Call 11/13/39)		22,092		22,105,523
3.60%, 01/13/51 (Call 07/13/50)		29,505		29,863,406
3.80%, 03/22/30^(a)		11,336		12,153,773
3.80%, 05/13/60 (Call 11/13/59)^(a)		12,629		13,020,662
4.63%, 03/23/40 (Call 09/23/39)^(a)		7,428		8,482,258
4.70%, 03/23/50 (Call 09/23/49)^(a)		17,790		21,075,724
6.20%, 12/15/34^(a)		5,793		7,435,763
6.40%, 12/15/35		9,220		12,291,247
6.65%, 11/15/37^(a)		11,422		15,508,202


				1,681,003,443

Mining — 0.6%
Barrick Gold Corp., 5.25%, 04/01/42		7,371		8,676,808


Security	Par (000)		Value

Mining (continued)
Barrick North America Finance LLC
5.70%, 05/30/41	$	9,021	$	11,201,773
5.75%, 05/01/43^(a)		8,047		10,004,557
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39^(a)		9,824		12,398,635
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		9,820		10,637,591
5.00%, 09/30/43^(a)		22,206		26,761,707
Freeport-McMoRan Inc.
4.63%, 08/01/30 (Call 08/01/25)^(a)		9,327		9,605,899
5.40%, 11/14/34 (Call 05/14/34)		7,649		8,746,249
5.45%, 03/15/43 (Call 09/15/42)		20,356		23,412,453
Newmont Corp.
2.25%, 10/01/30 (Call 07/01/30)^(a)		4,463		4,174,879
2.60%, 07/15/32 (Call 04/15/32)		11,590		10,996,397
4.88%, 03/15/42 (Call 09/15/41)^(a)		10,282		11,831,851
6.25%, 10/01/39^(a)		8,939		11,564,392
Rio Tinto Alcan Inc., 6.13%, 12/15/33		7,025		9,175,063
Rio Tinto Finance USA Ltd.
2.75%, 11/02/51 (Call 05/02/51)^(a)		12,149		10,707,948
5.20%, 11/02/40		11,019		13,440,741
7.13%, 07/15/28		6,640		8,294,586
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)^(a)		6,098		6,648,750


				208,280,279

Office & Business Equipment — 0.0%
CDW LLC/CDW Finance Corp.
2.67%, 12/01/26 (Call 11/01/26)^(a)		914		894,529
3.57%, 12/01/31 (Call 09/01/31)		2,170		2,110,650


				3,005,179

Oil & Gas — 4.6%
BP Capital Markets America Inc.
1.75%, 08/10/30 (Call 05/10/30)^(a)		8,425		7,638,907
2.72%, 01/12/32 (Call 10/12/31)^(a)		18,361		17,568,782
2.77%, 11/10/50 (Call 05/10/50)		14,886		12,185,840
2.94%, 06/04/51 (Call 12/04/50)^(a)		21,675		18,217,235
3.00%, 02/24/50 (Call 08/24/49)		19,072		16,300,623
3.00%, 03/17/52 (Call 09/17/51)^(a)		12,579		10,699,437
3.02%, 01/16/27 (Call 10/16/26)^(a)		10,593		10,804,246
3.06%, 06/17/41 (Call 12/17/40)		17,257		15,510,707
3.12%, 05/04/26 (Call 02/04/26)		8,686		8,913,354
3.19%, 04/06/25 (Call 03/06/25)		3,636		3,723,237
3.38%, 02/08/61 (Call 08/08/60)^(a)		20,537		18,121,085
3.41%, 02/11/26 (Call 12/11/25)		10,771		11,148,116
3.63%, 04/06/30 (Call 01/06/30)^(a)		12,700		13,224,688
3.80%, 09/21/25 (Call 07/21/25)		10,444		10,931,518
3.94%, 09/21/28 (Call 06/21/28)^(a)		8,986		9,526,382
4.23%, 11/06/28 (Call 08/06/28)^(a)		18,081		19,551,193
BP Capital Markets PLC
3.28%, 09/19/27 (Call 06/19/27)^(a)		13,733		14,124,212
3.51%, 03/17/25^(a)		7,539		7,810,239
3.72%, 11/28/28 (Call 08/28/28)^(a)		8,866		9,287,913
Canadian Natural Resources Ltd.
3.85%, 06/01/27 (Call 03/01/27)^(a)		10,559		11,025,003
4.95%, 06/01/47 (Call 12/01/46)^(a)		4,714		5,316,996
6.25%, 03/15/38^(a)		12,525		15,298,120
Cenovus Energy Inc.
3.75%, 02/15/52 (Call 08/15/51)^(a)		6,352		5,723,189
4.25%, 04/15/27 (Call 01/15/27)^(a)		6,133		6,507,236


Security	Par (000)		Value

Oil & Gas (continued)
4.40%, 04/15/29 (Call 01/15/29)	$	8,353	$	8,908,246
5.40%, 06/15/47 (Call 12/15/46)^(a)		10,249		11,633,612
6.75%, 11/15/39		12,694		15,913,343
Chevron Corp.
1.55%, 05/11/25 (Call 04/11/25)		20,383		20,073,462
2.00%, 05/11/27 (Call 03/11/27)		10,190		10,020,911
2.24%, 05/11/30 (Call 02/11/30)		14,516		14,107,402
2.95%, 05/16/26 (Call 02/16/26)^(a)		21,700		22,396,982
3.08%, 05/11/50 (Call 11/11/49)^(a)		10,665		10,252,097
3.33%, 11/17/25 (Call 08/17/25)		8,691		9,029,390
Chevron USA Inc.
0.69%, 08/12/25 (Call 07/12/25)^(a)		7,747		7,395,257
1.02%, 08/12/27 (Call 06/12/27)^(a)		10,190		9,508,278
2.34%, 08/12/50 (Call 02/12/50)^(a)		9,013		7,512,040
ConocoPhillips
3.75%, 10/01/27 (Call 07/01/27)^(a)(c)		12,937		13,861,576
4.30%, 08/15/28 (Call 05/15/28)^(a)(c)		11,281		12,375,140
4.88%, 10/01/47 (Call 04/01/47)^(c)		7,609		9,199,826
6.50%, 02/01/39		24,067		33,472,540
ConocoPhillips Co.
3.80%, 03/15/52 (Call 09/15/51)		4,550		4,605,656
4.30%, 11/15/44 (Call 05/15/44)		8,412		9,224,379
4.95%, 03/15/26 (Call 12/15/25)^(a)		10,564		11,572,921
6.95%, 04/15/29^(a)		14,524		18,545,825
Continental Resources Inc./OK, 4.38%, 01/15/28 (Call 10/15/27)^(a)		8,397		8,708,907
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)^(a)		8,027		8,609,267
5.00%, 06/15/45 (Call 12/15/44)^(a)		10,238		11,409,522
5.60%, 07/15/41 (Call 01/15/41)^(a)		10,895		12,719,727
Diamondback Energy Inc.
3.13%, 03/24/31 (Call 12/24/30)^(a)		8,457		8,254,519
3.25%, 12/01/26 (Call 10/01/26)^(a)		6,897		7,044,758
3.50%, 12/01/29 (Call 09/01/29)^(a)		13,461		13,588,672
EOG Resources Inc.
4.15%, 01/15/26 (Call 10/15/25)		5,739		6,129,251
4.38%, 04/15/30 (Call 01/15/30)^(a)		5,980		6,625,424
4.95%, 04/15/50 (Call 10/15/49)^(a)		7,730		9,376,460
Equinor ASA
1.75%, 01/22/26 (Call 12/22/25)^(a)		8,137		7,976,560
2.38%, 05/22/30 (Call 02/22/30)^(a)		6,334		6,165,953
2.88%, 04/06/25 (Call 03/06/25)^(a)		8,346		8,502,740
3.13%, 04/06/30 (Call 01/06/30)^(a)		8,091		8,306,238
3.25%, 11/18/49 (Call 05/18/49)^(a)		8,912		8,517,640
3.63%, 09/10/28 (Call 06/10/28)^(a)		7,689		8,108,120
3.70%, 04/06/50 (Call 10/06/49)		11,716		12,146,028
3.95%, 05/15/43		8,748		9,277,296
4.80%, 11/08/43^(a)		4,672		5,521,458
5.10%, 08/17/40		5,403		6,563,300
Exxon Mobil Corp.
2.28%, 08/16/26 (Call 06/16/26)^(a)		12,894		12,955,813
2.44%, 08/16/29 (Call 05/16/29)^(a)		11,294		11,113,465
2.61%, 10/15/30 (Call 07/15/30)^(a)		18,767		18,610,371
2.71%, 03/06/25 (Call 12/06/24)		12,796		13,037,216
2.99%, 03/19/25 (Call 02/19/25)		22,371		22,983,737
3.00%, 08/16/39 (Call 02/16/39)		8,697		8,278,999
3.04%, 03/01/26 (Call 12/01/25)^(a)		27,092		28,013,020
3.10%, 08/16/49 (Call 02/16/49)		14,086		13,120,668
3.29%, 03/19/27 (Call 01/19/27)^(a)		10,171		10,649,537
3.45%, 04/15/51 (Call 10/15/50)^(a)		26,349		26,060,829


Security	Par (000)		Value

Oil & Gas (continued)
3.48%, 03/19/30 (Call 12/19/29)	$	19,631	$	20,688,479
3.57%, 03/06/45 (Call 09/06/44)^(a)		10,914		10,973,694
4.11%, 03/01/46 (Call 09/01/45)^(a)		24,286		26,451,073
4.23%, 03/19/40 (Call 09/19/39)		20,034		22,054,721
4.33%, 03/19/50 (Call 09/19/49)^(a)		26,563		30,026,571
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)^(a)		8,021		8,474,540
5.60%, 02/15/41^(a)		14,166		16,425,325
6.00%, 01/15/40^(a)		4,917		5,891,822
Marathon Oil Corp.
4.40%, 07/15/27 (Call 04/15/27)^(a)		12,248		12,983,587
6.60%, 10/01/37^(a)		7,421		9,307,700
Marathon Petroleum Corp.
4.70%, 05/01/25 (Call 04/01/25)		9,631		10,220,458
4.75%, 09/15/44 (Call 03/15/44)^(a)		8,105		8,643,250
6.50%, 03/01/41 (Call 09/01/40)^(a)		14,398		18,320,572
Ovintiv Inc., 6.50%, 08/15/34^(a)		6,787		8,255,708
Phillips 66
2.15%, 12/15/30 (Call 09/15/30)^(a)		6,813		6,281,337
3.30%, 03/15/52 (Call 09/15/51)		11,661		10,436,216
3.90%, 03/15/28 (Call 12/15/27)		7,603		7,961,748
4.65%, 11/15/34 (Call 05/15/34)		6,450		7,156,273
4.88%, 11/15/44 (Call 05/15/44)^(a)		15,521		17,708,766
5.88%, 05/01/42^(a)		12,369		15,631,027
Pioneer Natural Resources Co.
1.13%, 01/15/26 (Call 12/15/25)		4,837		4,605,259
1.90%, 08/15/30 (Call 05/15/30)		7,433		6,756,164
2.15%, 01/15/31 (Call 10/15/30)^(a)		7,744		7,162,162
Shell International Finance BV
2.38%, 11/07/29 (Call 08/07/29)^(a)		17,341		16,911,132
2.50%, 09/12/26^(a)		10,903		11,025,132
2.75%, 04/06/30 (Call 01/06/30)^(a)		16,834		16,831,635
2.88%, 05/10/26^(a)		17,299		17,810,467
3.00%, 11/26/51 (Call 05/26/51)^(a)		14,324		12,986,124
3.13%, 11/07/49 (Call 05/07/49)^(a)		13,532		12,587,733
3.25%, 05/11/25^(a)		23,268		24,101,422
3.25%, 04/06/50 (Call 10/06/49)^(a)		18,262		17,645,121
3.75%, 09/12/46^(a)		11,358		11,632,868
3.88%, 11/13/28 (Call 08/13/28)^(a)		14,260		15,268,918
4.00%, 05/10/46		24,288		25,822,246
4.13%, 05/11/35		14,820		16,235,408
4.38%, 05/11/45^(a)		28,800		32,010,057
4.55%, 08/12/43		10,890		12,465,637
5.50%, 03/25/40^(a)		9,723		12,285,511
6.38%, 12/15/38^(a)		26,314		35,805,915
Suncor Energy Inc.
3.75%, 03/04/51 (Call 09/04/50)^(a)		6,307		6,071,048
4.00%, 11/15/47 (Call 05/15/47)^(a)		7,053		7,080,715
6.50%, 06/15/38^(a)		9,897		12,552,933
6.80%, 05/15/38		10,859		14,134,516
6.85%, 06/01/39		7,400		9,750,220
TotalEnergies Capital International SA
2.83%, 01/10/30 (Call 10/10/29)^(a)		12,620		12,617,227
2.99%, 06/29/41 (Call 12/29/40)		7,464		6,912,333
3.13%, 05/29/50 (Call 11/29/49)^(a)		25,261		23,340,722
3.39%, 06/29/60 (Call 12/29/59)		8,828		8,227,761
3.46%, 02/19/29 (Call 11/19/28)		12,957		13,497,089
3.46%, 07/12/49 (Call 01/12/49)		10,347		10,099,091
TotalEnergies Capital SA, 3.88%, 10/11/28^(a)		10,719		11,455,507


Security	Par (000)		Value

Oil & Gas (continued)
Valero Energy Corp.
3.65%, 12/01/51 (Call 06/01/51)	$	8,052	$	7,210,177
4.00%, 04/01/29 (Call 01/01/29)^(a)		7,669		8,005,340
4.35%, 06/01/28 (Call 03/01/28)		10,695		11,385,876
6.63%, 06/15/37^(a)		16,082		20,559,515
7.50%, 04/15/32		7,401		9,613,080


				1,653,497,564

Oil & Gas Services — 0.4%
Baker Hughes Holdings LLC, 5.13%, 09/15/40		10,937		12,532,049
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc.
3.34%, 12/15/27 (Call 09/15/27)^(a)		16,317		16,816,331
4.08%, 12/15/47 (Call 06/15/47)		12,747		12,869,383
Halliburton Co.
2.92%, 03/01/30 (Call 12/01/29)^(a)		14,637		14,428,459
4.75%, 08/01/43 (Call 02/01/43)^(a)		9,818		10,467,181
4.85%, 11/15/35 (Call 05/15/35)^(a)		12,225		13,579,080
5.00%, 11/15/45 (Call 05/15/45)^(a)		18,412		20,477,086
6.70%, 09/15/38		7,473		9,601,391
7.45%, 09/15/39^(a)		9,179		12,552,952
Schlumberger Investment SA, 2.65%, 06/26/30 (Call 03/26/30)^(a)		12,948		12,601,671


				135,925,583

Packaging & Containers — 0.1%
Berry Global Inc., 1.57%, 01/15/26 (Call 12/15/25)		12,732		12,119,619
WRKCo Inc.
4.65%, 03/15/26 (Call 01/15/26)^(a)		9,100		9,834,896
4.90%, 03/15/29 (Call 12/15/28)^(a)		6,177		6,870,097


				28,824,612

Pharmaceuticals — 8.0%
AbbVie Inc.
2.95%, 11/21/26 (Call 09/21/26)^(a)		39,121		39,778,182
3.20%, 05/14/26 (Call 02/14/26)^(a)		17,113		17,540,454
3.20%, 11/21/29 (Call 08/21/29)		54,433		55,151,799
3.60%, 05/14/25 (Call 02/14/25)		32,707		33,791,204
3.80%, 03/15/25 (Call 12/15/24)		23,654		24,579,870
4.05%, 11/21/39 (Call 05/21/39)^(a)		38,112		39,988,452
4.25%, 11/14/28 (Call 08/14/28)^(a)		18,425		19,900,992
4.25%, 11/21/49 (Call 05/21/49)^(a)		53,675		56,943,888
4.30%, 05/14/36 (Call 11/14/35)^(a)		10,441		11,363,378
4.40%, 11/06/42^(a)		24,075		25,944,888
4.45%, 05/14/46 (Call 11/14/45)		21,700		23,437,771
4.50%, 05/14/35 (Call 11/14/34)		27,479		30,445,680
4.55%, 03/15/35 (Call 09/15/34)^(a)		15,948		17,698,867
4.70%, 05/14/45 (Call 11/14/44)^(a)		26,244		29,116,511
4.75%, 03/15/45 (Call 09/15/44)		10,123		11,264,539
4.85%, 06/15/44 (Call 12/15/43)		11,395		12,873,186
4.88%, 11/14/48 (Call 05/14/48)^(a)		18,322		21,051,351
AmerisourceBergen Corp.
2.70%, 03/15/31 (Call 12/15/30)^(a)		10,079		9,702,458
3.45%, 12/15/27 (Call 09/15/27)		6,051		6,285,628
Astrazeneca Finance LLC
1.20%, 05/28/26 (Call 04/28/26)		18,285		17,544,792
1.75%, 05/28/28 (Call 03/28/28)		12,173		11,647,289
2.25%, 05/28/31 (Call 02/28/31)^(a)		6,458		6,208,459
AstraZeneca PLC
0.70%, 04/08/26 (Call 03/08/26)		19,030		17,898,899
1.38%, 08/06/30 (Call 05/06/30)		14,493		13,058,238
3.00%, 05/28/51 (Call 11/28/50)^(a)		7,966		7,461,349


Security	Par (000)		Value

Pharmaceuticals (continued)
3.13%, 06/12/27 (Call 03/12/27)^(a)	$	4,007	$	4,145,149
3.38%, 11/16/25		18,655		19,415,781
4.00%, 01/17/29 (Call 10/17/28)		10,298		11,168,392
4.00%, 09/18/42^(a)		12,484		13,541,580
4.38%, 11/16/45		7,618		8,719,128
4.38%, 08/17/48 (Call 02/17/48)^(a)		7,466		8,639,448
6.45%, 09/15/37		28,399		38,862,293
Becton Dickinson and Co.
1.96%, 02/11/31 (Call 11/11/30)		9,807		8,942,005
2.82%, 05/20/30 (Call 02/20/30)^(a)		10,682		10,515,108
3.70%, 06/06/27 (Call 03/06/27)^(a)		17,489		18,319,551
3.79%, 05/20/50 (Call 11/20/49)		4,179		4,161,372
4.67%, 06/06/47 (Call 12/06/46)^(a)		16,079		18,008,755
4.69%, 12/15/44 (Call 06/15/44)^(a)		11,349		12,684,513
Bristol-Myers Squibb Co.
0.75%, 11/13/25 (Call 10/13/25)^(a)		8,105		7,689,333
1.13%, 11/13/27 (Call 09/13/27)^(a)		9,944		9,367,427
1.45%, 11/13/30 (Call 08/13/30)		10,863		9,822,841
2.35%, 11/13/40 (Call 05/13/40)		6,813		5,894,253
2.55%, 11/13/50 (Call 05/13/50)		16,022		13,577,262
2.95%, 03/15/32 (Call 12/15/31)		3,730		3,777,956
3.20%, 06/15/26 (Call 04/15/26)		20,021		20,817,968
3.25%, 02/27/27		7,791		8,134,802
3.40%, 07/26/29 (Call 04/26/29)		35,883		37,692,199
3.45%, 11/15/27 (Call 08/15/27)		7,811		8,271,024
3.55%, 03/15/42 (Call 09/15/41)		3,570		3,635,485
3.70%, 03/15/52 (Call 09/15/51)		1,165		1,202,724
3.88%, 08/15/25 (Call 05/15/25)		16,465		17,358,411
3.90%, 02/20/28 (Call 11/20/27)		15,632		16,815,807
3.90%, 03/15/62 (Call 09/15/61)		1,955		2,033,052
4.13%, 06/15/39 (Call 12/15/38)		21,086		23,091,947
4.25%, 10/26/49 (Call 04/26/49)^(a)		35,195		39,378,397
4.35%, 11/15/47 (Call 05/15/47)		9,556		10,788,813
4.55%, 02/20/48 (Call 08/20/47)		11,781		13,725,414
5.00%, 08/15/45 (Call 02/15/45)^(a)		16,211		20,005,118
Cardinal Health Inc., 3.41%, 06/15/27 (Call 03/15/27)^(a)		14,797		15,308,304
Cigna Corp.
1.25%, 03/15/26 (Call 02/15/26)^(a)		10,779		10,312,001
2.38%, 03/15/31 (Call 12/15/30)		14,967		14,075,301
2.40%, 03/15/30 (Call 12/15/29)		15,914		15,104,482
3.20%, 03/15/40 (Call 09/15/39)		7,859		7,246,484
3.25%, 04/15/25 (Call 01/15/25)^(a)		3,433		3,505,550
3.40%, 03/01/27 (Call 12/01/26)^(a)		11,738		12,125,443
3.40%, 03/15/50 (Call 09/15/49)^(a)		12,854		11,766,649
3.40%, 03/15/51 (Call 09/15/50)		12,608		11,471,941
3.88%, 10/15/47 (Call 04/15/47)^(a)		10,714		10,448,206
4.13%, 11/15/25 (Call 09/15/25)^(a)		20,811		21,941,587
4.38%, 10/15/28 (Call 07/15/28)		36,844		39,883,250
4.50%, 02/25/26 (Call 11/27/25)^(a)		10,698		11,445,801
4.80%, 08/15/38 (Call 02/15/38)		22,408		25,013,725
4.80%, 07/15/46 (Call 01/16/46)^(a)		15,173		16,916,775
4.90%, 12/15/48 (Call 06/15/48)		30,111		34,113,490
CVS Health Corp.
1.30%, 08/21/27 (Call 06/21/27)^(a)		22,579		21,041,323
1.75%, 08/21/30 (Call 05/21/30)		12,807		11,577,199
1.88%, 02/28/31 (Call 11/28/30)^(a)		14,767		13,434,706
2.13%, 09/15/31 (Call 06/15/31)^(a)		12,457		11,501,217
2.70%, 08/21/40 (Call 02/21/40)^(a)		11,317		9,872,489
2.88%, 06/01/26 (Call 03/01/26)^(a)		18,068		18,285,226
3.00%, 08/15/26 (Call 06/15/26)^(a)		7,309		7,432,295


Security	Par (000)		Value

Pharmaceuticals (continued)
3.25%, 08/15/29 (Call 05/15/29)	$	19,488	$	19,811,392
3.63%, 04/01/27 (Call 02/01/27)^(a)		11,060		11,579,806
3.75%, 04/01/30 (Call 01/01/30)		17,059		17,905,500
3.88%, 07/20/25 (Call 04/20/25)^(a)		26,459		27,661,030
4.10%, 03/25/25 (Call 01/25/25)		7,563		7,923,714
4.13%, 04/01/40 (Call 10/01/39)		13,874		14,418,505
4.25%, 04/01/50 (Call 10/01/49)		8,425		9,004,832
4.30%, 03/25/28 (Call 12/25/27)^(a)		43,948		47,426,199
4.78%, 03/25/38 (Call 09/25/37)^(a)		46,546		52,072,523
5.05%, 03/25/48 (Call 09/25/47)^(a)		75,412		87,886,374
5.13%, 07/20/45 (Call 01/20/45)		34,695		40,182,264
5.30%, 12/05/43 (Call 06/05/43)^(a)		9,019		10,710,900
Eli Lilly & Co.
2.25%, 05/15/50 (Call 11/15/49)^(a)		9,471		7,856,648
2.50%, 09/15/60 (Call 03/15/60)^(a)		10,868		8,974,899
3.38%, 03/15/29 (Call 12/15/28)^(a)		8,313		8,754,537
3.95%, 03/15/49 (Call 09/15/48)^(a)		6,705		7,547,255
GlaxoSmithKline Capital Inc.
3.63%, 05/15/25^(a)		8,412		8,795,484
3.88%, 05/15/28		19,112		20,479,032
6.38%, 05/15/38^(a)		23,819		32,602,421
GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 (Call 03/01/29)		5,941		6,214,913
Johnson & Johnson
0.55%, 09/01/25 (Call 08/01/25)		10,949		10,412,475
0.95%, 09/01/27 (Call 07/01/27)^(a)		13,895		13,066,900
1.30%, 09/01/30 (Call 06/01/30)^(a)		15,122		13,846,193
2.10%, 09/01/40 (Call 03/01/40)^(a)		10,670		9,168,964
2.25%, 09/01/50 (Call 03/01/50)		9,186		7,685,418
2.45%, 03/01/26 (Call 12/01/25)^(a)		19,479		19,829,721
2.45%, 09/01/60 (Call 03/01/60)^(a)		12,689		10,576,646
2.90%, 01/15/28 (Call 10/15/27)		15,506		15,961,037
2.95%, 03/03/27 (Call 12/03/26)		8,071		8,367,759
3.40%, 01/15/38 (Call 07/15/37)		9,873		10,225,664
3.50%, 01/15/48 (Call 07/15/47)		6,504		6,792,960
3.55%, 03/01/36 (Call 09/01/35)		9,820		10,543,816
3.63%, 03/03/37 (Call 09/03/36)^(a)		15,049		16,213,603
3.70%, 03/01/46 (Call 09/01/45)		20,264		21,792,224
3.75%, 03/03/47 (Call 09/03/46)^(a)		10,386		11,272,588
4.38%, 12/05/33 (Call 06/05/33)^(a)		8,542		9,915,041
5.95%, 08/15/37^(a)		10,648		14,356,937
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)		3,954		4,167,487
Merck & Co. Inc.
0.75%, 02/24/26 (Call 01/24/26)^(a)		8,063		7,683,384
1.45%, 06/24/30 (Call 03/24/30)^(a)		12,903		11,771,186
1.70%, 06/10/27 (Call 05/10/27)		15,403		15,013,843
1.90%, 12/10/28 (Call 10/10/28)^(a)		8,861		8,583,530
2.15%, 12/10/31 (Call 09/10/31)^(a)		18,370		17,546,737
2.35%, 06/24/40 (Call 12/24/39)		10,267		9,032,748
2.45%, 06/24/50 (Call 12/24/49)^(a)		14,050		11,959,905
2.75%, 12/10/51 (Call 06/10/51)^(a)		20,481		18,261,744
2.90%, 12/10/61 (Call 06/10/61)		15,501		13,675,670
3.40%, 03/07/29 (Call 12/07/28)		15,059		15,832,617
3.70%, 02/10/45 (Call 08/10/44)^(a)		15,489		16,128,530
3.90%, 03/07/39 (Call 09/07/38)		11,046		11,966,776
4.00%, 03/07/49 (Call 09/07/48)^(a)		15,667		17,272,205
4.15%, 05/18/43^(a)		10,719		11,876,781


Security	Par (000)		Value

Pharmaceuticals (continued)
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)^(a)	$	7,397	$	7,881,938
5.20%, 04/15/48 (Call 10/15/47)		7,922		8,326,624
Novartis Capital Corp.
2.00%, 02/14/27 (Call 12/14/26)^(a)		11,121		11,000,354
2.20%, 08/14/30 (Call 05/14/30)		17,514		16,986,086
2.75%, 08/14/50 (Call 02/14/50)		11,069		10,133,994
3.00%, 11/20/25 (Call 08/20/25)^(a)		15,353		15,825,383
3.10%, 05/17/27 (Call 02/17/27)^(a)		12,805		13,270,087
4.00%, 11/20/45 (Call 05/20/45)^(a)		12,271		13,563,811
4.40%, 05/06/44		17,839		20,738,173
Pfizer Inc.
0.80%, 05/28/25 (Call 04/28/25)		4,897		4,724,248
1.70%, 05/28/30 (Call 02/28/30)^(a)		10,151		9,480,247
1.75%, 08/18/31 (Call 05/18/31)^(a)		11,119		10,296,276
2.55%, 05/28/40 (Call 11/28/39)^(a)		10,679		9,757,462
2.63%, 04/01/30 (Call 01/01/30)^(a)		11,646		11,661,459
2.70%, 05/28/50 (Call 11/28/49)		11,309		10,244,261
2.75%, 06/03/26^(a)		14,217		14,599,095
3.00%, 12/15/26^(a)		15,357		15,951,010
3.45%, 03/15/29 (Call 12/15/28)		16,045		16,938,714
3.60%, 09/15/28 (Call 06/15/28)^(a)		9,609		10,285,947
3.90%, 03/15/39 (Call 09/15/38)^(a)		9,180		9,993,871
4.00%, 12/15/36^(a)		8,948		9,904,196
4.00%, 03/15/49 (Call 09/15/48)^(a)		12,856		14,257,985
4.13%, 12/15/46^(a)		10,894		12,255,860
4.20%, 09/15/48 (Call 03/15/48)^(a)		10,995		12,540,285
4.30%, 06/15/43^(a)		6,341		7,169,610
4.40%, 05/15/44		9,078		10,441,301
7.20%, 03/15/39^(a)		25,702		38,600,294
Sanofi, 3.63%, 06/19/28 (Call 03/19/28)^(a)		9,953		10,688,744
Shire Acquisitions Investments Ireland DAC, 3.20%, 09/23/26 (Call 06/23/26)		31,088		31,909,444
Takeda Pharmaceutical Co. Ltd.
2.05%, 03/31/30 (Call 12/31/29)		26,213		24,338,419
3.03%, 07/09/40 (Call 01/09/40)^(a)		15,227		13,785,464
3.18%, 07/09/50 (Call 01/09/50)^(a)		19,294		17,302,485
3.38%, 07/09/60 (Call 01/09/60)^(a)		9,885		8,858,825
5.00%, 11/26/28 (Call 08/26/28)^(a)		17,863		20,130,906
Utah Acquisition Sub Inc.
3.95%, 06/15/26 (Call 03/15/26)		24,870		25,669,160
5.25%, 06/15/46 (Call 12/15/45)^(a)		10,309		10,930,320
Viatris Inc.
1.65%, 06/22/25 (Call 05/22/25)		5,214		5,036,150
2.30%, 06/22/27 (Call 04/22/27)^(a)		7,118		6,835,701
2.70%, 06/22/30 (Call 03/22/30)^(a)		15,458		14,426,321
3.85%, 06/22/40 (Call 12/22/39)^(a)		15,695		14,394,220
4.00%, 06/22/50 (Call 12/22/49)		18,636		16,515,119
Wyeth LLC
5.95%, 04/01/37^(a)		20,985		27,554,835
6.50%, 02/01/34		6,665		8,843,838
Zoetis Inc.
2.00%, 05/15/30 (Call 02/15/30)^(a)		14,010		13,026,778
3.00%, 09/12/27 (Call 06/12/27)^(a)		6,941		7,063,150
4.50%, 11/13/25 (Call 08/13/25)		5,620		5,999,842
4.70%, 02/01/43 (Call 08/01/42)^(a)		11,806		13,573,356


				2,857,025,841

Pipelines — 3.1%
Cheniere Corpus Christi Holdings LLC
2.74%, 12/31/39 (Call 07/04/39)^(a)(c)		9,843		8,946,913


Security	Par (000)		Value

Pipelines (continued)
3.70%, 11/15/29 (Call 05/18/29)	$	15,801	$	16,084,802
5.13%, 06/30/27 (Call 01/01/27)^(a)		9,701		10,583,671
5.88%, 03/31/25 (Call 10/02/24)		11,464		12,380,844
Enbridge Inc.
2.50%, 08/01/33 (Call 05/01/33)^(a)		12,388		11,374,716
3.13%, 11/15/29 (Call 08/15/29)^(a)		9,818		9,861,269
3.40%, 08/01/51 (Call 02/01/51)		8,702		7,934,204
4.25%, 12/01/26 (Call 09/01/26)^(a)		6,024		6,419,481
5.50%, 12/01/46 (Call 06/01/46)^(a)		5,827		7,109,415
Energy Transfer LP
2.90%, 05/15/25 (Call 04/15/25)^(a)		2,877		2,893,186
3.75%, 05/15/30 (Call 02/15/30)^(a)		16,285		16,521,899
4.00%, 10/01/27 (Call 07/01/27)		5,336		5,495,248
4.05%, 03/15/25 (Call 12/15/24)		6,382		6,609,704
4.75%, 01/15/26 (Call 10/15/25)		12,457		13,231,564
4.95%, 05/15/28 (Call 02/15/28)^(a)		9,075		9,743,866
4.95%, 06/15/28 (Call 03/15/28)^(a)		8,571		9,250,192
5.00%, 05/15/50 (Call 11/15/49)		17,435		18,146,226
5.15%, 03/15/45 (Call 09/15/44)^(a)		11,392		11,744,639
5.25%, 04/15/29 (Call 01/15/29)^(a)		13,574		14,886,323
5.30%, 04/15/47 (Call 10/15/46)		10,079		10,549,742
5.35%, 05/15/45 (Call 11/15/44)		6,087		6,383,352
5.40%, 10/01/47 (Call 04/01/47)^(a)		15,417		16,402,985
5.50%, 06/01/27 (Call 03/01/27)^(a)		7,821		8,629,648
6.00%, 06/15/48 (Call 12/15/47)^(a)		8,563		9,695,212
6.13%, 12/15/45 (Call 06/15/45)		11,002		12,456,626
6.25%, 04/15/49 (Call 10/15/48)		18,216		21,344,995
6.50%, 02/01/42 (Call 08/01/41)		10,189		12,007,667
Enterprise Products Operating LLC
2.80%, 01/31/30 (Call 10/31/29)		13,448		13,232,266
3.13%, 07/31/29 (Call 04/30/29)		10,834		10,934,785
3.20%, 02/15/52 (Call 08/15/51)		10,417		8,938,411
3.30%, 02/15/53 (Call 08/15/52)^(a)		9,790		8,576,669
3.70%, 02/15/26 (Call 11/15/25)^(a)		5,330		5,560,205
3.70%, 01/31/51 (Call 07/31/50)^(a)		11,286		10,531,601
3.95%, 01/31/60 (Call 07/31/59)^(a)		10,686		10,017,059
4.15%, 10/16/28 (Call 07/16/28)^(a)		9,003		9,676,745
4.20%, 01/31/50 (Call 07/31/49)		11,097		11,160,555
4.25%, 02/15/48 (Call 08/15/47)^(a)		10,735		10,874,759
4.45%, 02/15/43 (Call 08/15/42)		11,207		11,527,896
4.80%, 02/01/49 (Call 08/01/48)^(a)		12,939		14,137,031
4.85%, 08/15/42 (Call 02/15/42)^(a)		7,661		8,302,817
4.85%, 03/15/44 (Call 09/15/43)^(a)		13,986		15,169,645
4.90%, 05/15/46 (Call 11/15/45)		10,041		11,036,535
5.10%, 02/15/45 (Call 08/15/44)		11,493		12,826,349
5.95%, 02/01/41		7,454		9,163,416
Kinder Morgan Energy Partners LP
5.50%, 03/01/44 (Call 09/01/43)		8,375		9,373,040
6.95%, 01/15/38		12,891		16,462,067
Kinder Morgan Inc.
2.00%, 02/15/31 (Call 11/15/30)^(a)		7,086		6,351,074
3.60%, 02/15/51 (Call 08/15/50)^(a)		11,791		10,592,059
4.30%, 06/01/25 (Call 03/01/25)		9,072		9,503,831
4.30%, 03/01/28 (Call 12/01/27)^(a)		14,431		15,368,314
5.05%, 02/15/46 (Call 08/15/45)		6,581		7,125,574
5.20%, 03/01/48 (Call 09/01/47)^(a)		7,080		7,855,086
5.30%, 12/01/34 (Call 06/01/34)^(a)		7,710		8,642,659
5.55%, 06/01/45 (Call 12/01/44)^(a)		17,182		19,684,955
7.75%, 01/15/32^(a)		9,780		12,941,372


Security	Par (000)		Value

Pipelines (continued)
Magellan Midstream Partners LP, 3.95%, 03/01/50 (Call 09/01/49)^(a)	$	7,151	$	6,773,303
MPLX LP
1.75%, 03/01/26 (Call 02/01/26)^(a)		16,211		15,577,870
2.65%, 08/15/30 (Call 05/15/30)		16,685		15,705,245
4.00%, 03/15/28 (Call 12/15/27)		11,113		11,567,921
4.13%, 03/01/27 (Call 12/01/26)^(a)		12,476		13,126,907
4.50%, 04/15/38 (Call 10/15/37)^(a)		17,131		17,681,215
4.70%, 04/15/48 (Call 10/15/47)^(a)		14,781		15,311,904
4.80%, 02/15/29 (Call 11/15/28)^(a)		7,207		7,880,695
4.88%, 06/01/25 (Call 03/01/25)		11,352		12,083,238
5.20%, 03/01/47 (Call 09/01/46)^(a)		9,262		10,166,019
5.50%, 02/15/49 (Call 08/15/48)^(a)		15,786		17,991,202
ONEOK Inc.
3.10%, 03/15/30 (Call 12/15/29)		6,834		6,619,622
3.40%, 09/01/29 (Call 06/01/29)		9,101		8,998,622
4.55%, 07/15/28 (Call 04/15/28)		9,078		9,657,997
5.20%, 07/15/48 (Call 01/15/48)^(a)		7,634		8,315,765
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/29 (Call 09/15/29)^(a)		12,958		12,797,833
3.80%, 09/15/30 (Call 06/15/30)^(a)		9,215		9,245,242
4.50%, 12/15/26 (Call 09/15/26)^(a)		9,146		9,741,130
4.65%, 10/15/25 (Call 07/15/25)^(a)		8,689		9,209,992
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)^(a)		15,997		16,773,400
4.50%, 05/15/30 (Call 11/15/29)^(a)		18,585		19,995,988
5.00%, 03/15/27 (Call 09/15/26)^(a)		11,949		12,983,260
5.63%, 03/01/25 (Call 12/01/24)		15,738		16,983,694
5.88%, 06/30/26 (Call 12/31/25)^(a)		14,647		16,288,066
TransCanada PipeLines Ltd.
2.50%, 10/12/31 (Call 07/12/31)^(a)		10,320		9,644,200
4.10%, 04/15/30 (Call 01/15/30)		9,963		10,547,714
4.25%, 05/15/28 (Call 02/15/28)		15,163		16,172,888
4.63%, 03/01/34 (Call 12/01/33)^(a)		12,376		13,603,629
4.88%, 01/15/26 (Call 10/15/25)^(a)		8,135		8,814,384
4.88%, 05/15/48 (Call 11/15/47)^(a)		10,129		11,445,105
5.10%, 03/15/49 (Call 09/15/48)^(a)		10,551		12,436,308
6.10%, 06/01/40^(a)		7,606		9,590,322
6.20%, 10/15/37^(a)		10,893		13,711,987
7.63%, 01/15/39^(a)		13,648		19,500,657
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)^(a)		8,812		10,421,792
Williams Companies Inc. (The)
2.60%, 03/15/31 (Call 12/15/30)^(a)		13,664		12,932,193
3.50%, 11/15/30 (Call 08/15/30)^(a)		12,140		12,321,270
3.75%, 06/15/27 (Call 03/15/27)^(a)		16,893		17,600,722
4.00%, 09/15/25 (Call 06/15/25)		8,627		8,996,305
4.85%, 03/01/48 (Call 09/01/47)^(a)		7,620		8,241,764
5.10%, 09/15/45 (Call 03/15/45)^(a)		9,033		9,999,268
6.30%, 04/15/40^(a)		11,572		14,269,805


				1,123,981,607

Real Estate Investment Trusts — 1.7%
Alexandria Real Estate Equities Inc.
1.88%, 02/01/33 (Call 11/01/32)^(a)		10,572		9,322,824
2.00%, 05/18/32 (Call 02/18/32)^(a)		7,683		6,932,590
2.95%, 03/15/34 (Call 12/15/33)		5,315		5,191,147
3.00%, 05/18/51 (Call 11/18/50)		7,681		6,722,484
3.38%, 08/15/31 (Call 05/15/31)^(a)		7,149		7,319,809
3.55%, 03/15/52 (Call 09/15/51)		10,173		9,793,740


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
American Tower Corp.
1.88%, 10/15/30 (Call 07/15/30)	$	5,442	$	4,824,325
2.10%, 06/15/30 (Call 03/15/30)		13,821		12,553,017
2.40%, 03/15/25 (Call 02/15/25)		6,120		6,094,276
2.75%, 01/15/27 (Call 11/15/26)		8,741		8,720,743
2.90%, 01/15/30 (Call 10/15/29)^(a)		7,225		6,972,860
2.95%, 01/15/51 (Call 07/15/50)		11,294		9,244,433
3.10%, 06/15/50 (Call 12/15/49)^(a)		12,442		10,416,778
3.38%, 10/15/26 (Call 07/15/26)^(a)		9,808		10,063,308
3.55%, 07/15/27 (Call 04/15/27)^(a)		1,055		1,084,330
3.80%, 08/15/29 (Call 05/15/29)		16,010		16,497,929
4.00%, 06/01/25 (Call 03/01/25)		6,337		6,595,276
Boston Properties LP
2.45%, 10/01/33 (Call 07/01/33)		15,738		14,270,014
2.55%, 04/01/32 (Call 01/01/32)		6,072		5,678,331
2.75%, 10/01/26 (Call 07/01/26)^(a)		10,248		10,268,589
3.25%, 01/30/31 (Call 10/30/30)		8,008		7,987,954
3.40%, 06/21/29 (Call 03/21/29)^(a)		6,274		6,402,865
3.65%, 02/01/26 (Call 11/03/25)^(a)		7,339		7,601,170
4.50%, 12/01/28 (Call 09/01/28)^(a)		8,512		9,279,683
Brixmor Operating Partnership LP
4.05%, 07/01/30 (Call 04/01/30)		5,561		5,819,971
4.13%, 05/15/29 (Call 02/15/29)^(a)		8,849		9,357,116
Crown Castle International Corp.
1.05%, 07/15/26 (Call 06/15/26)		12,674		11,814,963
2.10%, 04/01/31 (Call 01/01/31)		14,021		12,628,569
2.25%, 01/15/31 (Call 10/15/30)^(a)		11,139		10,152,007
2.50%, 07/15/31 (Call 04/15/31)^(a)		10,286		9,550,109
2.90%, 04/01/41 (Call 10/01/40)		11,787		10,138,033
3.25%, 01/15/51 (Call 07/15/50)^(a)		8,027		6,937,055
3.30%, 07/01/30 (Call 04/01/30)		7,878		7,815,747
3.65%, 09/01/27 (Call 06/01/27)^(a)		8,658		8,948,579
3.70%, 06/15/26 (Call 03/15/26)^(a)		8,036		8,335,318
3.80%, 02/15/28 (Call 11/15/27)^(a)		8,480		8,810,938
4.45%, 02/15/26 (Call 11/15/25)^(a)		7,691		8,172,647
Digital Realty Trust LP
3.60%, 07/01/29 (Call 04/01/29)^(a)		7,613		7,846,339
3.70%, 08/15/27 (Call 05/15/27)^(a)		10,756		11,252,827
Equinix Inc.
2.15%, 07/15/30 (Call 04/15/30)		13,493		12,295,712
2.50%, 05/15/31 (Call 02/15/31)		10,217		9,442,339
3.20%, 11/18/29 (Call 08/18/29)^(a)		11,472		11,314,115
ERP Operating LP, 4.50%, 07/01/44 (Call 01/01/44)^(a)		6,746		7,706,813
GLP Capital LP/GLP Financing II Inc.
3.25%, 01/15/32 (Call 10/15/31)^(a)		5,927		5,568,141
5.25%, 06/01/25 (Call 03/01/25)^(a)		4,092		4,324,801
5.30%, 01/15/29 (Call 10/15/28)^(a)		7,202		7,836,034
5.38%, 04/15/26 (Call 01/15/26)		10,839		11,585,894
Healthcare Trust of America Holdings LP, 2.00%, 03/15/31 (Call 12/15/30)^(a)		6,677		6,041,953
Healthpeak Properties Inc., 3.00%, 01/15/30 (Call 10/15/29)		4,340		4,335,422
Prologis LP
1.25%, 10/15/30 (Call 07/15/30)^(a)		7,245		6,384,416
2.25%, 04/15/30 (Call 01/15/30)		4,350		4,169,176
Realty Income Corp., 3.25%, 01/15/31 (Call 10/15/30)^(a)		8,512		8,633,653
Simon Property Group LP
1.75%, 02/01/28 (Call 11/01/27)		9,308		8,759,534
2.45%, 09/13/29 (Call 06/13/29)		13,090		12,619,860


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
2.65%, 07/15/30 (Call 04/15/30)^(a)	$	7,666	$	7,462,492
3.25%, 11/30/26 (Call 08/30/26)		9,234		9,514,880
3.25%, 09/13/49 (Call 03/13/49)^(a)		11,460		10,519,383
3.30%, 01/15/26 (Call 10/15/25)		8,121		8,318,081
3.38%, 06/15/27 (Call 03/15/27)^(a)		7,728		7,947,549
3.38%, 12/01/27 (Call 09/01/27)^(a)		10,204		10,513,240
3.50%, 09/01/25 (Call 06/01/25)		16,253		16,788,631
3.80%, 07/15/50 (Call 01/15/50)		6,054		6,113,712
Ventas Realty LP, 4.40%, 01/15/29 (Call 10/15/28)^(a)		5,619		6,094,779
Welltower Inc.
2.80%, 06/01/31 (Call 03/01/31)^(a)		5,359		5,174,639
3.10%, 01/15/30 (Call 10/15/29)		8,678		8,651,753
4.00%, 06/01/25 (Call 03/01/25)		11,983		12,540,811
4.25%, 04/15/28 (Call 01/15/28)		8,769		9,398,374
Weyerhaeuser Co.
4.00%, 11/15/29 (Call 08/15/29)^(a)		7,957		8,408,878
4.00%, 04/15/30 (Call 01/15/30)^(a)		8,399		8,917,143
7.38%, 03/15/32^(a)		11,445		15,567,423


				610,368,324

Retail — 2.8%
AutoZone Inc., 4.00%, 04/15/30 (Call 01/15/30)		7,383		7,827,957
Costco Wholesale Corp.
1.38%, 06/20/27 (Call 04/20/27)		25,532		24,515,997
1.60%, 04/20/30 (Call 01/20/30)		16,796		15,573,819
1.75%, 04/20/32 (Call 01/20/32)^(a)		7,749		7,144,044
3.00%, 05/18/27 (Call 02/18/27)		3,502		3,604,992
Dollar General Corp., 3.50%, 04/03/30 (Call 01/03/30)		10,641		10,885,759
Dollar Tree Inc.
2.65%, 12/01/31 (Call 09/01/31)^(a)		8,567		8,126,522
4.00%, 05/15/25 (Call 03/15/25)		6,499		6,773,733
4.20%, 05/15/28 (Call 02/15/28)		14,284		15,247,867
Home Depot Inc. (The)
1.38%, 03/15/31 (Call 12/15/30)^(a)		12,541		11,222,807
1.50%, 09/15/28 (Call 07/15/28)^(a)		8,323		7,863,178
1.88%, 09/15/31 (Call 06/15/31)^(a)		6,604		6,130,164
2.13%, 09/15/26 (Call 06/15/26)^(a)		10,574		10,572,436
2.38%, 03/15/51 (Call 09/15/50)		13,082		10,699,170
2.50%, 04/15/27 (Call 02/15/27)		10,686		10,780,092
2.70%, 04/15/30 (Call 01/15/30)		16,250		16,210,225
2.75%, 09/15/51 (Call 03/15/51)^(a)		8,564		7,603,558
2.80%, 09/14/27 (Call 06/14/27)^(a)		9,989		10,206,202
2.95%, 06/15/29 (Call 03/15/29)^(a)		16,037		16,372,889
3.00%, 04/01/26 (Call 01/01/26)^(a)		9,929		10,286,295
3.13%, 12/15/49 (Call 06/15/49)		14,136		13,298,638
3.30%, 04/15/40 (Call 10/15/39)		13,934		13,934,683
3.35%, 09/15/25 (Call 06/15/25)		6,602		6,875,218
3.35%, 04/15/50 (Call 10/15/49)^(a)		15,391		15,048,643
3.50%, 09/15/56 (Call 03/15/56)		9,803		9,784,130
3.90%, 12/06/28 (Call 09/06/28)		10,706		11,556,118
3.90%, 06/15/47 (Call 12/15/46)		10,098		10,710,436
4.20%, 04/01/43 (Call 10/01/42)		9,160		10,141,969
4.25%, 04/01/46 (Call 10/01/45)		15,959		17,718,539
4.40%, 03/15/45 (Call 09/15/44)		10,618		11,981,367
4.50%, 12/06/48 (Call 06/06/48)		14,617		16,928,721
4.88%, 02/15/44 (Call 08/15/43)^(a)		10,207		12,236,592
5.88%, 12/16/36^(a)		30,314		40,003,264
5.95%, 04/01/41 (Call 10/01/40)		7,313		9,680,524
Lowe’s Companies Inc.
1.30%, 04/15/28 (Call 02/15/28)^(a)		10,879		9,998,912
1.70%, 09/15/28 (Call 07/15/28)		6,997		6,549,567


Security	Par (000)		Value

Retail (continued)
1.70%, 10/15/30 (Call 07/15/30)^(a)	$	11,763	$	10,577,630
2.50%, 04/15/26 (Call 01/15/26)^(a)		12,231		12,365,904
2.63%, 04/01/31 (Call 01/01/31)^(a)		13,613		13,141,678
2.80%, 09/15/41 (Call 03/15/41)		12,525		11,039,678
3.00%, 10/15/50 (Call 04/15/50)		15,026		13,052,021
3.10%, 05/03/27 (Call 02/03/27)^(a)		17,930		18,438,843
3.38%, 09/15/25 (Call 06/15/25)^(a)		8,743		9,068,558
3.65%, 04/05/29 (Call 01/05/29)^(a)		15,841		16,589,495
3.70%, 04/15/46 (Call 10/15/45)^(a)		12,999		12,652,122
4.00%, 04/15/25 (Call 03/15/25)^(a)		2,609		2,736,296
4.05%, 05/03/47 (Call 11/03/46)		17,265		17,737,783
4.50%, 04/15/30 (Call 01/15/30)^(a)		13,334		14,695,504
McDonald’s Corp.
2.13%, 03/01/30 (Call 12/01/29)^(a)		9,405		8,911,346
2.63%, 09/01/29 (Call 06/01/29)^(a)		10,830		10,646,261
3.30%, 07/01/25 (Call 06/01/25)		6,949		7,165,569
3.50%, 03/01/27 (Call 12/01/26)		6,906		7,221,201
3.50%, 07/01/27 (Call 05/01/27)^(a)		7,287		7,632,385
3.60%, 07/01/30 (Call 04/01/30)		11,359		11,916,246
3.63%, 09/01/49 (Call 03/01/49)		19,029		18,664,201
3.70%, 01/30/26 (Call 10/30/25)		14,619		15,391,670
3.80%, 04/01/28 (Call 01/01/28)^(a)		8,351		8,861,626
4.20%, 04/01/50 (Call 10/01/49)^(a)		7,569		8,082,721
4.45%, 03/01/47 (Call 09/01/46)		9,046		9,935,439
4.45%, 09/01/48 (Call 03/01/48)		5,780		6,340,933
4.70%, 12/09/35 (Call 06/09/35)^(a)		7,640		8,666,766
4.88%, 12/09/45 (Call 06/09/45)		15,859		18,152,272
6.30%, 10/15/37^(a)		7,872		10,422,389
6.30%, 03/01/38^(a)		7,602		9,937,489
O’Reilly Automotive Inc., 3.60%, 09/01/27 (Call 06/01/27)		8,976		9,374,971
Starbucks Corp.
2.25%, 03/12/30 (Call 12/12/29)^(a)		7,355		6,943,855
2.55%, 11/15/30 (Call 08/15/30)^(a)		11,199		10,752,169
3.00%, 02/14/32 (Call 11/14/31)		8,089		8,039,113
3.50%, 11/15/50 (Call 05/15/50)		11,754		11,027,269
3.55%, 08/15/29 (Call 05/15/29)^(a)		10,445		10,855,571
3.80%, 08/15/25 (Call 06/15/25)		7,956		8,329,868
4.00%, 11/15/28 (Call 08/15/28)^(a)		8,363		8,945,252
4.45%, 08/15/49 (Call 02/15/49)^(a)		12,150		13,094,882
4.50%, 11/15/48 (Call 05/15/48)^(a)		12,175		13,272,700
Target Corp.
1.95%, 01/15/27 (Call 12/15/26)^(a)		8,356		8,283,823
2.25%, 04/15/25 (Call 03/15/25)		12,936		13,011,170
2.35%, 02/15/30 (Call 11/15/29)		9,803		9,628,853
2.50%, 04/15/26^(a)		10,108		10,326,566
2.95%, 01/15/52 (Call 07/15/51)		14,377		13,578,146
3.38%, 04/15/29 (Call 01/15/29)^(a)		10,223		10,811,061
4.00%, 07/01/42		4,083		4,532,147
TJX Companies Inc. (The), 2.25%, 09/15/26 (Call 06/15/26)^(a)		12,339		12,362,234
Walgreens Boots Alliance Inc.
3.45%, 06/01/26 (Call 03/01/26)^(a)		5,954		6,175,837
4.10%, 04/15/50 (Call 10/15/49)		8,351		8,367,898
4.80%, 11/18/44 (Call 05/18/44)^(a)		1,200		1,302,044
Walmart Inc.
3.05%, 07/08/26 (Call 05/08/26)^(a)		7,594		7,907,467
3.55%, 06/26/25 (Call 04/26/25)^(a)		3,642		3,815,523
3.70%, 06/26/28 (Call 03/26/28)^(a)		11,050		11,891,919
4.05%, 06/29/48 (Call 12/29/47)^(a)		7,982		9,047,816


Security	Par (000)		Value

Retail (continued)
5.25%, 09/01/35^(a)	$	3,074	$	3,904,834
6.20%, 04/15/38^(a)		817		1,138,138
6.50%, 08/15/37^(a)		1,020		1,463,836


				992,324,015

Semiconductors — 3.3%
Analog Devices Inc.
1.70%, 10/01/28 (Call 08/01/28)^(a)		7,390		7,031,682
2.10%, 10/01/31 (Call 07/01/31)^(a)		7,112		6,751,794
2.80%, 10/01/41 (Call 04/01/41)		9,258		8,502,982
2.95%, 10/01/51 (Call 04/01/51)		10,876		9,935,558
3.50%, 12/05/26 (Call 09/05/26)^(a)		7,405		7,809,555
Applied Materials Inc.
1.75%, 06/01/30 (Call 03/01/30)^(a)		9,171		8,582,467
2.75%, 06/01/50 (Call 12/01/49)^(a)		8,307		7,482,199
3.30%, 04/01/27 (Call 01/01/27)^(a)		14,559		15,202,765
4.35%, 04/01/47 (Call 10/01/46)^(a)		9,893		11,399,663
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.50%, 01/15/28 (Call 10/15/27)		6,727		6,874,710
3.88%, 01/15/27 (Call 10/15/26)^(a)		34,467		35,876,211
Broadcom Inc.
1.95%, 02/15/28 (Call 12/15/27)^(a)(c)		9,817		9,225,433
2.45%, 02/15/31 (Call 11/15/30)^(a)(c)		25,713		23,714,586
2.60%, 02/15/33 (Call 11/15/32)^(c)		19,411		17,665,813
3.14%, 11/15/35 (Call 08/15/35)^(a)(c)		30,715		28,446,310
3.15%, 11/15/25 (Call 10/15/25)		14,324		14,581,736
3.19%, 11/15/36 (Call 08/15/36)^(a)(c)		20,120		18,630,190
3.42%, 04/15/33 (Call 01/15/33)^(c)		22,642		22,087,950
3.46%, 09/15/26 (Call 07/15/26)		16,315		16,822,191
3.47%, 04/15/34 (Call 01/15/34)^(c)		34,446		33,391,732
3.50%, 02/15/41 (Call 08/15/40)^(a)(c)		29,454		27,138,692
3.75%, 02/15/51 (Call 08/15/50)^(a)(c)		16,811		15,654,825
4.11%, 09/15/28 (Call 06/15/28)		21,873		22,970,541
4.15%, 11/15/30 (Call 08/15/30)^(a)		25,325		26,555,663
4.25%, 04/15/26 (Call 02/15/26)^(a)		17,801		18,787,916
4.30%, 11/15/32 (Call 08/15/32)^(a)		19,621		20,664,353
4.70%, 04/15/25 (Call 03/15/25)		10,191		10,827,405
4.75%, 04/15/29 (Call 01/15/29)^(a)		21,067		22,892,515
5.00%, 04/15/30 (Call 01/15/30)		13,282		14,693,928
Intel Corp.
1.60%, 08/12/28 (Call 06/12/28)^(a)		9,012		8,531,722
2.00%, 08/12/31 (Call 05/12/31)^(a)		9,466		8,808,368
2.45%, 11/15/29 (Call 08/15/29)		22,891		22,366,927
2.60%, 05/19/26 (Call 02/19/26)^(a)		14,162		14,436,345
2.80%, 08/12/41 (Call 02/12/41)^(a)		5,058		4,557,160
3.05%, 08/12/51 (Call 02/12/51)^(a)		12,681		11,538,314
3.10%, 02/15/60 (Call 08/15/59)		10,348		9,012,349
3.15%, 05/11/27 (Call 02/11/27)^(a)		10,092		10,451,600
3.20%, 08/12/61 (Call 02/12/61)		5,438		4,838,921
3.25%, 11/15/49 (Call 05/15/49)		21,436		20,031,657
3.40%, 03/25/25 (Call 02/25/25)^(a)		7,384		7,653,975
3.70%, 07/29/25 (Call 04/29/25)^(a)		19,456		20,368,698
3.73%, 12/08/47 (Call 06/08/47)^(a)		20,178		20,311,921
3.75%, 03/25/27 (Call 01/25/27)^(a)		8,804		9,356,041
3.90%, 03/25/30 (Call 12/25/29)^(a)		12,106		13,035,954
4.00%, 12/15/32^(a)		6,687		7,344,555
4.10%, 05/19/46 (Call 11/19/45)		10,802		11,507,106
4.10%, 05/11/47 (Call 11/11/46)		11,151		11,882,294
4.60%, 03/25/40 (Call 09/25/39)^(a)		7,509		8,524,275
4.75%, 03/25/50 (Call 09/25/49)^(a)		22,436		26,304,556
4.80%, 10/01/41^(a)		8,711		10,225,602


Security	Par (000)		Value

Semiconductors (continued)
4.90%, 07/29/45 (Call 01/29/45)^(a)	$	9,358	$	11,080,240
4.95%, 03/25/60 (Call 09/25/59)^(a)		9,816		12,050,577
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)^(a)		6,719		6,343,022
4.10%, 03/15/29 (Call 12/15/28)^(a)		9,691		10,466,186
Lam Research Corp.
1.90%, 06/15/30 (Call 03/15/30)		10,321		9,663,796
2.88%, 06/15/50 (Call 12/15/49)^(a)		7,800		6,966,976
3.75%, 03/15/26 (Call 01/15/26)		7,101		7,510,537
4.00%, 03/15/29 (Call 12/15/28)^(a)		9,475		10,263,302
4.88%, 03/15/49 (Call 09/15/48)^(a)		6,775		8,198,859
Marvell Technology Inc.
2.45%, 04/15/28 (Call 02/15/28)		7,139		6,883,993
2.95%, 04/15/31 (Call 01/15/31)		7,962		7,665,625
Microchip Technology Inc., 4.25%, 09/01/25 (Call 09/01/22)^(a)		14,181		14,544,200
Micron Technology Inc.
2.70%, 04/15/32 (Call 01/15/32)		12,085		11,305,730
4.19%, 02/15/27 (Call 12/15/26)^(a)		9,111		9,627,264
4.66%, 02/15/30 (Call 11/15/29)		7,184		7,758,570
NVIDIA Corp.
1.55%, 06/15/28 (Call 04/15/28)		14,424		13,626,856
2.00%, 06/15/31 (Call 03/15/31)^(a)		13,069		12,284,796
2.85%, 04/01/30 (Call 01/01/30)		14,340		14,503,054
3.20%, 09/16/26 (Call 06/16/26)^(a)		8,920		9,303,244
3.50%, 04/01/40 (Call 10/01/39)		9,040		9,273,954
3.50%, 04/01/50 (Call 10/01/49)^(a)		19,784		20,435,123
NXP BV/NXP Funding LLC/NXP USA Inc.
2.50%, 05/11/31 (Call 02/11/31)^(a)(c)		12,373		11,559,307
2.65%, 02/15/32 (Call 11/15/31)^(a)(c)		7,652		7,195,684
3.25%, 05/11/41 (Call 11/11/40)^(a)(c)		8,689		7,966,303
3.40%, 05/01/30 (Call 02/01/30)^(c)		8,033		8,099,787
3.88%, 06/18/26 (Call 04/18/26)^(a)(c)		10,174		10,648,806
4.30%, 06/18/29 (Call 03/18/29)^(c)		11,250		11,983,846
Qorvo Inc., 4.38%, 10/15/29 (Call 10/15/24)^(a)		2,138		2,189,282
QUALCOMM Inc.
1.30%, 05/20/28 (Call 02/20/28)		8,963		8,320,496
1.65%, 05/20/32 (Call 02/20/32)		11,918		10,734,814
2.15%, 05/20/30 (Call 02/20/30)		11,373		10,917,650
3.25%, 05/20/27 (Call 02/20/27)^(a)		20,678		21,539,162
3.25%, 05/20/50 (Call 11/20/49)^(a)		8,666		8,509,457
3.45%, 05/20/25 (Call 02/20/25)^(a)		10,916		11,331,721
4.30%, 05/20/47 (Call 11/20/46)		16,339		18,503,656
4.65%, 05/20/35 (Call 11/20/34)^(a)		9,412		10,912,065
4.80%, 05/20/45 (Call 11/20/44)		15,864		18,904,616
Texas Instruments Inc.
1.38%, 03/12/25 (Call 02/12/25)		1,184		1,163,790
1.75%, 05/04/30 (Call 02/04/30)		8,186		7,709,423
2.25%, 09/04/29 (Call 06/04/29)		7,472		7,371,659
3.88%, 03/15/39 (Call 09/15/38)		5,444		5,909,618
4.15%, 05/15/48 (Call 11/15/47)		14,490		16,407,672


				1,188,924,423

Software — 3.8%
Activision Blizzard Inc.
2.50%, 09/15/50 (Call 03/15/50)		13,741		11,572,334
3.40%, 09/15/26 (Call 06/15/26)^(a)		6,356		6,648,094
Adobe Inc.
2.15%, 02/01/27 (Call 12/01/26)		9,588		9,539,361
2.30%, 02/01/30 (Call 11/01/29)^(a)		14,098		13,713,450
Autodesk Inc., 2.40%, 12/15/31 (Call 09/15/31)		11,771		10,888,841


Security	Par (000)		Value

Software (continued)
Broadridge Financial Solutions Inc.
2.60%, 05/01/31 (Call 02/01/31)^(a)	$	11,166	$	10,494,044
2.90%, 12/01/29 (Call 09/01/29)^(a)		9,976		9,772,567
Citrix Systems Inc.
1.25%, 03/01/26 (Call 02/01/26)^(a)		8,117		7,986,428
3.30%, 03/01/30 (Call 12/01/29)^(a)		6,550		6,590,845
4.50%, 12/01/27 (Call 09/01/27)		8,721		8,969,164
Fidelity National Information Services Inc.
1.15%, 03/01/26 (Call 02/01/26)^(a)		12,915		12,189,985
1.65%, 03/01/28 (Call 01/01/28)^(a)		7,760		7,179,744
2.25%, 03/01/31 (Call 12/01/30)^(a)		16,663		15,259,129
3.10%, 03/01/41 (Call 09/01/40)^(a)		6,266		5,623,061
Fiserv Inc.
2.25%, 06/01/27 (Call 04/01/27)^(a)		9,180		8,971,230
2.65%, 06/01/30 (Call 03/01/30)^(a)		11,642		11,093,124
3.20%, 07/01/26 (Call 05/01/26)		21,811		22,280,251
3.50%, 07/01/29 (Call 04/01/29)^(a)		30,071		30,468,839
3.85%, 06/01/25 (Call 03/01/25)^(a)		7,537		7,837,515
4.20%, 10/01/28 (Call 07/01/28)		12,447		13,253,886
4.40%, 07/01/49 (Call 01/01/49)^(a)		20,869		22,206,958
Microsoft Corp.
2.40%, 08/08/26 (Call 05/08/26)^(a)		37,168		37,706,367
2.53%, 06/01/50 (Call 12/01/49)		61,636		54,698,566
2.68%, 06/01/60 (Call 12/01/59)		36,802		32,352,693
2.92%, 03/17/52 (Call 09/17/51)		60,771		57,999,642
3.04%, 03/17/62 (Call 09/17/61)		21,577		20,573,818
3.13%, 11/03/25 (Call 08/03/25)^(a)		26,950		27,961,679
3.30%, 02/06/27 (Call 11/06/26)^(a)		36,909		39,018,390
3.45%, 08/08/36 (Call 02/08/36)^(a)		18,962		20,350,051
3.50%, 02/12/35 (Call 08/12/34)^(a)		15,372		16,591,622
3.70%, 08/08/46 (Call 02/08/46)^(a)		24,481		26,483,727
4.10%, 02/06/37 (Call 08/06/36)^(a)		9,879		11,250,163
4.25%, 02/06/47 (Call 08/06/46)^(a)		12,791		15,101,780
4.45%, 11/03/45 (Call 05/03/45)^(a)		2,621		3,135,638
4.50%, 02/06/57 (Call 08/06/56)^(a)		4,329		5,392,160
Oracle Corp.
1.65%, 03/25/26 (Call 02/25/26)^(a)		27,825		26,648,033
2.30%, 03/25/28 (Call 01/25/28)		15,415		14,655,950
2.50%, 04/01/25 (Call 03/01/25)		30,345		30,286,349
2.65%, 07/15/26 (Call 04/15/26)		27,728		27,538,524
2.80%, 04/01/27 (Call 02/01/27)^(a)		21,780		21,622,748
2.88%, 03/25/31 (Call 12/25/30)		31,250		29,747,272
2.95%, 05/15/25 (Call 02/15/25)^(a)		21,200		21,397,230
2.95%, 04/01/30 (Call 01/01/30)^(a)		31,812		30,774,760
3.25%, 11/15/27 (Call 08/15/27)^(a)		24,696		24,972,842
3.60%, 04/01/40 (Call 10/01/39)^(a)		28,470		25,796,371
3.60%, 04/01/50 (Call 10/01/49)		42,203		36,576,361
3.65%, 03/25/41 (Call 09/25/40)		22,975		20,812,738
3.80%, 11/15/37 (Call 05/15/37)		16,260		15,438,998
3.85%, 07/15/36 (Call 01/15/36)		13,100		12,647,945
3.85%, 04/01/60 (Call 10/01/59)		35,942		30,903,701
3.90%, 05/15/35 (Call 11/15/34)		12,736		12,569,029
3.95%, 03/25/51 (Call 09/25/50)		31,500		28,810,533
4.00%, 07/15/46 (Call 01/15/46)		31,176		28,674,382
4.00%, 11/15/47 (Call 05/15/47)		22,386		20,458,832
4.10%, 03/25/61 (Call 09/25/60)^(a)		14,661		13,221,661
4.13%, 05/15/45 (Call 11/15/44)		20,283		19,024,815
4.30%, 07/08/34 (Call 01/08/34)^(a)		18,403		18,991,519
4.38%, 05/15/55 (Call 11/15/54)		11,560		11,053,838
4.50%, 07/08/44 (Call 01/08/44)		7,931		7,918,520


Security	Par (000)		Value

Software (continued)
5.38%, 07/15/40^(a)	$	22,365	$	24,633,643
6.13%, 07/08/39		12,490		14,957,206
6.50%, 04/15/38^(a)		13,696		16,914,364
Roper Technologies Inc.
1.75%, 02/15/31 (Call 11/15/30)^(a)		3,136		2,775,065
4.20%, 09/15/28 (Call 06/15/28)		7,581		8,089,863
salesforce.com Inc.
1.50%, 07/15/28 (Call 05/15/28)^(a)		11,198		10,577,818
1.95%, 07/15/31 (Call 04/15/31)^(a)		16,668		15,748,475
2.70%, 07/15/41 (Call 01/15/41)		15,167		13,868,667
2.90%, 07/15/51 (Call 01/15/51)^(a)		22,137		20,125,114
3.05%, 07/15/61 (Call 01/15/61)		8,089		7,289,548
3.70%, 04/11/28 (Call 01/11/28)^(a)		15,429		16,455,931
VMware Inc.
1.40%, 08/15/26 (Call 07/15/26)^(a)		19,449		18,451,332
1.80%, 08/15/28 (Call 06/15/28)		10,125		9,368,368
2.20%, 08/15/31 (Call 05/15/31)		13,643		12,492,416
3.90%, 08/21/27 (Call 05/21/27)		11,482		12,007,243
4.50%, 05/15/25 (Call 04/15/25)		1,222		1,293,384
4.70%, 05/15/30 (Call 02/15/30)		9,073		9,949,757


				1,366,696,291

Telecommunications — 7.3%
AT&T Inc.
1.65%, 02/01/28 (Call 12/01/27)		18,200		17,185,252
1.70%, 03/25/26 (Call 03/25/23)		19,772		19,243,368
2.25%, 02/01/32 (Call 11/01/31)^(a)		26,000		23,980,804
2.30%, 06/01/27 (Call 04/01/27)		24,482		24,144,447
2.55%, 12/01/33 (Call 09/01/33)^(a)		39,239		36,361,789
2.75%, 06/01/31 (Call 03/01/31)^(a)		29,417		28,588,764
3.10%, 02/01/43 (Call 08/01/42)		23,715		21,149,250
3.30%, 02/01/52 (Call 08/01/51)^(a)		22,299		19,817,480
3.40%, 05/15/25 (Call 02/15/25)		18,614		19,241,178
3.50%, 06/01/41 (Call 12/01/40)		23,675		22,466,479
3.50%, 09/15/53 (Call 03/15/53)		76,519		70,131,860
3.50%, 02/01/61 (Call 08/01/60)^(a)		12,796		11,218,476
3.55%, 09/15/55 (Call 03/15/55)		73,038		66,249,410
3.65%, 06/01/51 (Call 12/01/50)^(a)		28,739		26,954,751
3.65%, 09/15/59 (Call 03/15/59)		65,868		59,810,133
3.80%, 02/15/27 (Call 11/15/26)^(a)		9,059		9,565,735
3.80%, 12/01/57 (Call 06/01/57)^(a)		55,644		52,222,100
3.85%, 06/01/60 (Call 12/01/59)^(a)		16,724		15,682,660
4.10%, 02/15/28 (Call 11/15/27)^(a)		18,652		19,980,049
4.13%, 02/17/26 (Call 11/17/25)^(a)		10,618		11,304,311
4.25%, 03/01/27 (Call 12/01/26)^(a)		14,506		15,634,053
4.30%, 02/15/30 (Call 11/15/29)		29,629		32,255,078
4.30%, 12/15/42 (Call 06/15/42)^(a)		12,042		12,548,637
4.35%, 03/01/29 (Call 12/01/28)		29,015		31,588,715
4.35%, 06/15/45 (Call 12/15/44)^(a)		10,446		10,886,382
4.50%, 05/15/35 (Call 11/15/34)^(a)		25,079		27,495,720
4.50%, 03/09/48 (Call 09/09/47)		16,448		17,659,369
4.55%, 03/09/49 (Call 09/09/48)^(a)		7,821		8,467,512
4.75%, 05/15/46 (Call 11/15/45)^(a)		18,427		20,482,919
4.85%, 03/01/39 (Call 09/01/38)^(a)		10,053		11,217,222
5.15%, 02/15/50 (Call 08/14/49)		10,913		12,882,784
5.25%, 03/01/37 (Call 09/01/36)^(a)		17,321		20,297,725
5.35%, 09/01/40		10,969		12,964,362
5.65%, 02/15/47 (Call 08/15/46)^(a)		9,632		11,933,178
Bell Telephone Co. of Canada or Bell Canada (The)
3.65%, 08/15/52 (Call 02/15/52)		8,954		8,699,912
4.46%, 04/01/48 (Call 10/01/47)^(a)		10,437		11,533,388


Security	Par (000)		Value

Telecommunications (continued)
British Telecommunications PLC, 9.63%, 12/15/30	$	25,305	$	35,746,481
Cisco Systems Inc.
2.50%, 09/20/26 (Call 06/20/26)^(a)		12,715		12,984,657
2.95%, 02/28/26^(a)		7,286		7,549,257
5.50%, 01/15/40^(a)		20,472		26,348,950
5.90%, 02/15/39		22,378		29,829,579
Corning Inc.
4.38%, 11/15/57 (Call 05/15/57)^(a)		6,613		6,960,395
5.45%, 11/15/79 (Call 05/19/79)		10,408		12,052,391
Deutsche Telekom International Finance BV, 8.75%, 06/15/30		35,856		49,591,813
Motorola Solutions Inc.
2.30%, 11/15/30 (Call 08/15/30)		8,798		8,068,675
2.75%, 05/24/31 (Call 02/24/31)		11,224		10,595,646
4.60%, 05/23/29 (Call 02/23/29)		9,101		9,816,429
Orange SA
5.38%, 01/13/42		11,114		13,435,447
5.50%, 02/06/44 (Call 08/06/43)^(a)		10,573		13,255,017
9.00%, 03/01/31^(a)		22,248		31,844,615
Rogers Communications Inc.
3.70%, 11/15/49 (Call 05/15/49)		10,375		9,402,878
4.30%, 02/15/48 (Call 08/15/47)		6,771		6,685,528
4.35%, 05/01/49 (Call 11/01/48)^(a)		12,976		12,924,009
5.00%, 03/15/44 (Call 09/15/43)^(a)		8,855		9,578,167
Telefonica Emisiones SA
4.10%, 03/08/27^(a)		15,538		16,409,219
4.67%, 03/06/38^(a)		6,819		7,054,253
4.90%, 03/06/48^(a)		13,093		13,750,495
5.21%, 03/08/47		24,615		26,758,671
5.52%, 03/01/49 (Call 09/01/48)^(a)		13,129		14,808,593
7.05%, 06/20/36^(a)		20,189		26,218,362
Telefonica Europe BV, 8.25%, 09/15/30^(a)		10,216		13,716,523
TELUS Corp.
3.40%, 05/13/32 (Call 02/13/32)		10,000		10,112,577
4.60%, 11/16/48 (Call 05/16/48)^(a)		7,032		7,946,157
T-Mobile USA Inc.
1.50%, 02/15/26 (Call 01/15/26)^(a)		14,315		13,722,023
2.05%, 02/15/28 (Call 12/15/27)		21,689		20,610,473
2.25%, 11/15/31 (Call 08/15/31)		11,696		10,602,454
2.55%, 02/15/31 (Call 11/15/30)		27,862		26,089,314
2.70%, 03/15/32 (Call 12/15/31)^(c)		11,926		11,214,749
3.00%, 02/15/41 (Call 08/15/40)^(a)		27,019		23,563,051
3.30%, 02/15/51 (Call 08/15/50)^(a)		29,840		25,967,410
3.40%, 10/15/52 (Call 04/15/52)^(c)		25,780		22,806,058
3.50%, 04/15/25 (Call 03/15/25)		24,209		24,888,171
3.60%, 11/15/60 (Call 05/15/60)		9,056		7,947,467
3.75%, 04/15/27 (Call 02/15/27)		41,998		43,596,914
3.88%, 04/15/30 (Call 01/15/30)		67,074		69,253,154
4.38%, 04/15/40 (Call 10/15/39)		21,528		22,346,079
4.50%, 04/15/50 (Call 10/15/49)		29,599		30,832,825
Verizon Communications Inc.
0.85%, 11/20/25 (Call 10/20/25)^(a)		17,366		16,531,805
1.45%, 03/20/26 (Call 02/20/26)		25,497		24,638,090
1.50%, 09/18/30 (Call 06/18/30)^(a)		8,143		7,227,415
1.68%, 10/30/30 (Call 07/30/30)		12,469		11,207,618
1.75%, 01/20/31 (Call 10/20/30)^(a)		24,139		21,717,477
2.10%, 03/22/28 (Call 01/22/28)		30,435		29,407,009
2.36%, 03/15/32 (Call 12/15/31)^(c)		47,142		44,024,089
2.55%, 03/21/31 (Call 12/21/30)^(a)		44,347		42,502,001
2.63%, 08/15/26		23,069		23,186,315


Security	Par (000)		Value

Telecommunications (continued)
2.65%, 11/20/40 (Call 05/20/40)^(a)	$	34,484	$	29,931,422
2.85%, 09/03/41 (Call 03/03/41)		15,081		13,489,709
2.88%, 11/20/50 (Call 05/20/50)^(a)		30,646		26,235,823
2.99%, 10/30/56 (Call 04/30/56)		44,600		38,040,156
3.00%, 03/22/27 (Call 01/22/27)^(a)		9,561		9,730,262
3.00%, 11/20/60 (Call 05/20/60)^(a)		20,450		17,012,705
3.15%, 03/22/30 (Call 12/22/29)^(a)		18,526		18,724,191
3.40%, 03/22/41 (Call 09/22/40)^(a)		38,926		37,470,588
3.55%, 03/22/51 (Call 09/22/50)^(a)		43,394		41,905,330
3.70%, 03/22/61 (Call 09/22/60)^(a)		34,738		33,115,638
3.85%, 11/01/42 (Call 05/01/42)^(a)		11,158		11,348,927
3.88%, 02/08/29 (Call 11/08/28)^(a)		11,294		12,013,544
3.88%, 03/01/52 (Call 09/01/51)		5,000		5,160,875
4.00%, 03/22/50 (Call 09/22/49)		15,068		15,509,254
4.02%, 12/03/29 (Call 09/03/29)^(a)		38,694		41,438,732
4.13%, 03/16/27^(a)		33,424		35,727,298
4.13%, 08/15/46		16,361		17,332,461
4.27%, 01/15/36^(a)		25,441		28,087,833
4.33%, 09/21/28^(a)		41,653		45,357,464
4.40%, 11/01/34 (Call 05/01/34)^(a)		23,667		26,183,891
4.50%, 08/10/33^(a)		29,459		32,747,944
4.52%, 09/15/48^(a)		4,067		4,631,376
4.67%, 03/15/55		1,761		2,085,346
4.81%, 03/15/39		1,848		2,151,428
4.86%, 08/21/46		27,905		33,370,526
5.01%, 08/21/54^(a)		2,664		3,238,431
5.25%, 03/16/37		14,400		17,357,754
6.55%, 09/15/43^(a)		4,553		6,491,805
Vodafone Group PLC
4.13%, 05/30/25^(a)		8,501		8,945,573
4.25%, 09/17/50^(a)		15,667		16,040,500
4.38%, 05/30/28^(a)		24,714		26,722,643
4.38%, 02/19/43^(a)		14,403		14,966,247
4.88%, 06/19/49^(a)		16,219		18,141,169
5.00%, 05/30/38^(a)		10,323		11,715,859
5.25%, 05/30/48^(a)		29,956		34,791,246
6.15%, 02/27/37		18,811		23,361,742


				2,619,747,689

Toys, Games & Hobbies — 0.0%
Hasbro Inc., 3.90%, 11/19/29 (Call 08/19/29)		8,125		8,495,670


Transportation — 1.9%
Burlington Northern Santa Fe LLC
3.30%, 09/15/51 (Call 03/15/51)		7,937		7,696,244
3.55%, 02/15/50 (Call 08/15/49)		9,141		9,271,843
3.90%, 08/01/46 (Call 02/01/46)^(a)		6,440		6,847,874
4.05%, 06/15/48 (Call 12/15/47)^(a)		7,754		8,445,417
4.13%, 06/15/47 (Call 12/15/46)^(a)		7,461		8,200,378
4.15%, 04/01/45 (Call 10/01/44)		9,995		10,851,547
4.15%, 12/15/48 (Call 06/15/48)^(a)		7,930		8,760,825
4.45%, 03/15/43 (Call 09/15/42)^(a)		7,337		8,280,041
4.55%, 09/01/44 (Call 03/01/44)^(a)		8,414		9,611,285
4.90%, 04/01/44 (Call 10/01/43)^(a)		9,485		11,392,059
5.75%, 05/01/40 (Call 11/01/39)		8,028		10,301,104
Canadian Pacific Railway Co.
1.75%, 12/02/26 (Call 11/02/26)^(a)		10,609		10,280,877
2.45%, 12/02/31 (Call 09/02/31)^(a)		9,596		9,198,085
3.00%, 12/02/41 (Call 06/02/41)^(a)		10,851		10,080,579
3.10%, 12/02/51 (Call 06/02/51)		18,168		16,497,045
6.13%, 09/15/2115 (Call 03/15/2115)		8,367		11,086,379


Security	Par (000)		Value

Transportation (continued)
CSX Corp.
3.25%, 06/01/27 (Call 03/01/27)^(a)	$	7,505	$	7,759,254
3.80%, 03/01/28 (Call 12/01/27)		9,007		9,520,264
3.80%, 11/01/46 (Call 05/01/46)		9,977		10,205,217
4.10%, 03/15/44 (Call 09/15/43)		8,834		9,358,578
4.25%, 03/15/29 (Call 12/15/28)^(a)		8,909		9,703,435
4.30%, 03/01/48 (Call 09/01/47)^(a)		9,814		10,775,886
FedEx Corp.
2.40%, 05/15/31 (Call 02/15/31)^(a)		9,762		9,275,392
3.10%, 08/05/29 (Call 05/05/29)^(a)		8,125		8,228,782
3.25%, 04/01/26 (Call 01/01/26)		7,916		8,243,085
3.25%, 05/15/41 (Call 11/15/40)^(a)		9,619		8,970,698
4.05%, 02/15/48 (Call 08/15/47)^(a)		9,765		9,871,204
4.25%, 05/15/30 (Call 02/15/30)^(a)		5,401		5,861,357
4.40%, 01/15/47 (Call 07/15/46)		9,029		9,628,459
4.55%, 04/01/46 (Call 10/01/45)		12,052		13,093,670
4.75%, 11/15/45 (Call 05/15/45)		8,739		9,697,750
4.95%, 10/17/48 (Call 04/17/48)^(a)		7,117		8,188,837
5.10%, 01/15/44^(a)		7,877		9,107,049
5.25%, 05/15/50 (Call 11/15/49)^(a)		13,913		16,671,088
Norfolk Southern Corp.
3.05%, 05/15/50 (Call 11/15/49)^(a)		10,236		9,323,620
3.16%, 05/15/55 (Call 11/15/54)		9,387		8,590,538
Union Pacific Corp.
2.38%, 05/20/31 (Call 02/20/31)^(a)		9,285		9,004,340
2.40%, 02/05/30 (Call 11/05/29)^(a)		7,561		7,379,054
2.80%, 02/14/32 (Call 12/15/31)		3,986		3,993,214
2.95%, 03/10/52 (Call 09/10/51)^(a)		8,216		7,464,657
2.97%, 09/16/62 (Call 03/16/62)^(a)		11,564		9,948,234
3.20%, 05/20/41 (Call 11/20/40)^(a)		10,923		10,651,278
3.25%, 02/05/50 (Call 08/05/49)^(a)		17,301		16,609,548
3.50%, 02/14/53 (Call 08/14/52)		9,306		9,349,216
3.70%, 03/01/29 (Call 12/01/28)^(a)		7,728		8,202,293
3.75%, 02/05/70 (Call 08/05/69)^(a)		8,104		8,067,594
3.80%, 10/01/51 (Call 04/01/51)^(a)		10,580		11,025,124
3.80%, 04/06/71 (Call 10/06/70)		9,456		9,483,998
3.84%, 03/20/60 (Call 09/20/59)		21,172		21,739,221
3.95%, 09/10/28 (Call 06/10/28)^(a)		12,396		13,292,407
United Parcel Service Inc.
3.05%, 11/15/27 (Call 08/15/27)^(a)		9,080		9,471,244
3.40%, 03/15/29 (Call 12/15/28)^(a)		8,450		8,916,568
3.75%, 11/15/47 (Call 05/15/47)		12,341		13,310,299
3.90%, 04/01/25 (Call 03/01/25)^(a)		9,465		9,963,712
4.25%, 03/15/49 (Call 09/15/48)		7,377		8,583,277
4.45%, 04/01/30 (Call 01/01/30)		6,520		7,357,984


Security	Par/ Shares (000)		Value


Transportation (continued)
5.30%, 04/01/50 (Call 10/01/49)^(a)	$	12,168	$	16,363,990
6.20%, 01/15/38^(a)		14,173		19,164,848
Walmart Inc.
1.05%, 09/17/26 (Call 08/17/26)^(a)		16,558		15,879,468
1.50%, 09/22/28 (Call 07/22/28)^(a)		20,473		19,482,760
1.80%, 09/22/31 (Call 06/22/31)^(a)		21,167		19,828,700
2.50%, 09/22/41 (Call 03/22/41)^(a)		26,376		24,170,953
2.65%, 09/22/51 (Call 03/22/51)^(a)		28,034		25,653,622


				693,233,348

Water — 0.0%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		7,402		7,392,457
6.59%, 10/15/37		7,245		9,803,106


				17,195,563


Total Corporate Bonds & Notes — 98.0% (Cost: $37,836,920,174)				35,114,869,841


Short-Term Investments

Money Market Funds — 7.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.09%^(d)(e)(f)		2,597,932		2,598,451,695
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.03%^(d)(e)		203,784		203,784,000


				2,802,235,695


Total Short-Term Investments — 7.8% (Cost: $2,801,803,726)				2,802,235,695


Total Investments in Securities — 105.8% (Cost: $40,638,723,900)				37,917,105,536

Other Assets, Less Liabilities — (5.8)%				(2,094,673,730	)


Net Assets — 100.0%			$	35,822,431,806

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

^(b)	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.

^(c)	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.

^(d)	Affiliate of the Fund.

^(e)	Annualized 7-day yield as of period end.

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

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.

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. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). 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 a policy approved by the Board as reflecting fair value. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) is the committee formed by management to develop global pricing policies and procedures and to oversee the pricing function for all financial instruments.

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 Global Valuation Committee, in accordance with a policy approved by the Board as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Global 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 Global Valuation Committee, or its delegate, 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 Global Valuation Committee, or its delegate, deems relevant and consistent with the principles of fair value measurement. The pricing of all Fair Valued Investments is subsequently reported to the Board or a committee thereof on a quarterly basis.

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 Global 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 BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, 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 year ended February 28, 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 year ended February 28, 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 year ended February 28, 2022, purchases and sales of investments, excluding short-term investments 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 February 28, 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.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of February 28, 2022, permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of February 28, 2022, the tax components of accumulated net earnings (losses) were as follows:

As of February 28, 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 increase as interest rates fall and decrease as interest rates rise. The Funds may be subject to a greater risk of rising interest rates due to the current period of historically low rates.

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.

LIBORTransition 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.

Shareholders of iShares iBoxx $ High Yield Corporate Bond ETF and iShares iBoxx $ Investment Grade

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares iBoxx $ High Yield Corporate Bond ETF and iShares iBoxx $ Investment Grade Corporate Bond ETF (two of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of February 28, 2022, the related statements of operations for the year ended February 28, 2022, the statements of changes in net assets for each of the two years in the period ended February 28, 2022, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of February 28, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended February 28, 2022 and each of the financial highlights for each of the five years in the period ended February 28, 2022 in conformity with accounting principles generally accepted in the United States of America.

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

We have served as the auditor of one or more BlackRock investment companies since 2000.

The following amounts, or maximum amounts allowable by law, are hereby designated as qualified dividend income for individuals for the fiscal year ended February 28, 2022:

The Funds hereby designate the following amounts, or maximum amounts allowable by law, of distributions from direct federal obligation interest for the fiscal year ended February 28, 2022:

The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended February 28, 2022:

The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended February 28, 2022:

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), iShares Trust (the “Trust”) has adopted and implemented a liquidity risk management program (the “Program”) for iShares iBoxx $ High Yield Corporate Bond ETF and iShares iBoxx $ Investment Grade Corporate Bond ETF (the “Funds” or “ETFs”), each a series of the Trust, which is reasonably designed to assess and manage each Fund’s liquidity risk.

The Board of Trustees (the “Board”) of the Trust, on behalf of the Funds, met on December 9, 2021 (the “Meeting”) to review the Program. The Board previously appointed BlackRock Fund Advisors (“BlackRock”), the investment adviser to the Funds, as the program administrator for each Fund’s Program. BlackRock also previously delegated oversight of the Program to the 40 Act Liquidity Risk Management Committee (the “Committee”). At the Meeting, the Committee, on behalf of BlackRock, provided the Board with a report that addressed the operation of the Program and assessed its adequacy and effectiveness of implementation, including the management of each Fund’s Highly Liquid Investment Minimum (“HLIM”) where applicable, and any material changes to the Program (the “Report”). The Report covered the period from October 1, 2020 through September 30, 2021 (the “Program Reporting Period”).

The Report described the Program’s liquidity classification methodology for categorizing each Fund’s investments (including derivative transactions) into one of four liquidity buckets. It also referenced the methodology used by BlackRock to establish each Fund’s HLIM and noted that the Committee reviews and ratifies the HLIM assigned to each Fund no less frequently than annually. The Report also discussed notable events affecting liquidity over the Program Reporting Period, including extended market holidays and the imposition of capital controls in certain non-U.S. countries.

The Report noted that the Program complied with the key factors for consideration under the Liquidity Rule for assessing, managing and periodically reviewing each Fund’s liquidity risk, as follows:

As part of BlackRock’s continuous review of the effectiveness of the Program, the Committee made the following material changes to the Program: (1) updates to certain model components in the Program’s methodology; and (2) certain iShares Funds entered into a $800 million credit agreement with a group of lenders that replaced a previous liquidity facility. The Report provided to the Board stated that the Committee concluded that based on the operation of the functions, as described in the Report, the Program is operating as intended and is effective in implementing the requirements of the Liquidity Rule.

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.

Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.

The Alternative Investment Fund Managers Directive and the Alternative Investment Fund Managers Regulations 2013 (as amended) and the “Guidelines on sound remuneration policies under the AIMFD” issued by the European Securities and Markets Authority (together the “Regulations”) impose detailed and prescriptive obligations on fund managers established in the European Union (the “EU”) and the UK. These do not currently apply to managers established outside of the EU or UK, such as BFA (the “Company”). Rather, non-EU and non-UK managers are only required to comply with certain disclosure, reporting and transparency obligations of the Regulations if such managers market a fund to EU investors.

The Company has registered the iShares iBoxx $ High Yield Corporate Bond ETF and the iShares iBoxx $ Investment Grade Corporate Bond ETF (each a “Fund”, collectively the “Funds”) to be marketed to EU investors in the United Kingdom, the Netherlands, Finland, Sweden, and Luxembourg.

The Company is required under the Regulations to make quantitative disclosures of remuneration. These disclosures are made in line with BlackRock’s interpretation of currently available regulatory guidance on quantitative remuneration disclosures. As market or regulatory practice develops BlackRock may consider it appropriate to make changes to the way in which quantitative remuneration disclosures are calculated. Where such changes are made, this may result in disclosures in relation to a fund not being comparable to the disclosures made in the prior year, or in relation to other BlackRock fund disclosures in that same year.

Disclosures are provided in relation to (a) the staff of the Company; (b) staff who are senior management; and (c) staff who have the ability to materially affect the risk profile of the Funds.

All individuals included in the aggregated figures disclosed are rewarded in line with BlackRock’s remuneration policy for their responsibilities across the relevant BlackRock business area. As all individuals have a number of areas of responsibilities, only the portion of remuneration for those individuals’ services attributable to the Funds is included in the aggregate figures disclosed.

BlackRock has a clear and well defined pay-for-performance philosophy, and compensation programmes which support that philosophy.

BlackRock operates a total compensation model for remuneration which includes a base salary, which is contractual, and a discretionary bonus scheme. Although all employees are eligible to receive a discretionary bonus, there is no contractual obligation to make a discretionary bonus award to any employees. For senior management, a significant percentage of variable remuneration is deferred over time. All employees are subject to a claw-back policy.

Remuneration decisions for employees are made once annually in January following the end of the performance year, based on BlackRock’s full-year financial results and other non-financial goals and objectives. Alongside financial performance, individual total compensation is also based on strategic and operating results and other considerations such as management and leadership capabilities. No set formulas are established and no fixed benchmarks are used in determining annual incentive awards.

Annual incentive awards are paid from a bonus pool which is reviewed throughout the year by BlackRock’s independent compensation committee, taking into account both actual and projected financial information together with information provided by the Enterprise Risk and Regulatory Compliance departments in relation to any activities, incidents or events that warrant consideration in making compensation decisions. Individuals are not involved in setting their own remuneration.

Each of the control functions (Enterprise Risk, Legal & Compliance, and Internal Audit) each have their own organisational structures which are independent of the business units. Functional bonus pools for those control functions are determined with reference to the performance of each individual function and the remuneration of the senior members of control functions is directly overseen by BlackRock’s independent remuneration committee.

Members of staff and senior management of the Company typically provide both AIFMD and non-AIFMD related services in respect of multiple funds, clients and functions of the Company and across the broader BlackRock group. Therefore, the figures disclosed are a sum of each individual’s portion of remuneration attributable to the Funds according to an objective apportionment methodology which acknowledges the multiple-service nature of the Company. Accordingly the figures are not representative of any individual’s actual remuneration or their remuneration structure.

The amount of total & aggregate remuneration awarded by the company to its staff which has been attributed to the funds in respect of the company’s financial year ending December 31, 2021 were as follows:

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. Each officer shall hold office until his or her successor is elected and qualifies or until his or her death, resignation or removal. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 374 funds as of February 28, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

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


	1 Year			5 Years			10 Years			1 Year			5 Years			10 Years

Fund NAV		0.11	%		3.91	%		4.56	%		0.11	%		21.11	%		56.26	%
Fund Market		0.75			3.89			4.49			0.75			21.04			55.22
Index		0.50			4.31			5.00			0.50			23.47			62.81


Actual					Hypothetical 5% Return


	Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (09/01/21)	Ending Account Value (02/28/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 968.10	$ 2.34			$ 1,000.00	$ 1,022.40	$ 2.41		0.48	%


ALLOCATION BY CREDIT QUALITY

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

Baa		2.7%
Ba		47.9
B		37.5
Caa		10.7
Ca		0.2
Not Rated		1.0


ALLOCATION BY MATURITY

Maturity		Percent of Total Investments^(a)

0-1 Year		0.2%
1-5 Years		35.4
5-10 Years		61.3
10-15 Years		1.7
More than 20 Years		1.4


	Average Annual Total Returns								Cumulative Total Returns


	1 Year			5 Years			10 Years		1 Year			5 Years			10 Years

Fund NAV		(3.76	)%		4.12	%		4.00%		(3.76	)%		22.35	%		48.00	%
Fund Market		(3.48	)		4.13			3.94		(3.48	)		22.46			47.19
Index		(3.24	)		4.23			4.15		(3.24	)		23.03			50.21


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
Market Overview		4
Fund Summary		5
About Fund Performance		9
Shareholder Expenses		9
Schedules of Investments		10
Financial Statements
Statements of Assets and Liabilities		56
Statements of Operations		57
Statements of Changes in Net Assets		58
Financial Highlights		59
Notes to Financial Statements		61
Report of Independent Registered Public Accounting Firm		68
Important Tax Information (Unaudited)		69
Statement Regarding Liquidity Risk Management Program		70
Supplemental Information		71
Trustee and Officer Information		73
General Information		76
Glossary of Terms Used in this Report		77


4		2 0 2 2 I S H A R E S 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 February 28, 2022		iShares^® iBoxx $ High Yield Corporate Bond ETF


Fund Summary as of February 28, 2022 (continued)		iShares^® iBoxx $ High Yield Corporate Bond ETF


Fund Summary as of February 28, 2022		iShares^® iBoxx $ Investment Grade Corporate Bond ETF


ALLOCATION BY CREDIT QUALITY

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

Aaa		3.6%
Aa		5.0
A		41.7
Baa		46.9
Ba		1.9
Not Rated		0.9


A B O U T F U N D P E R F O R M A N C E / S H A R E H O L D E R E X P E N S E S		9




Affiliated Issuer	Value at 02/28/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 02/28/22		Shares Held at 02/28/22 (000)		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: In-stitutional, SL Agency Shares	$	2,655,688,680	$	205,403,556	^(a)	$	—		$	(385,166	)	$	(732,598	)	$	2,859,974,472		2,859,403	$	7,441,735	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		236,720,000		—			(105,260,000	)^(a)		—			—			131,460,000		131,460		12,767			—


									$	(385,166	)	$	(732,598	)	$	2,991,434,472			$	7,454,502		$	—




	Level 1		Level 2		Level 3		Total


Investments
Assets
Corporate Bonds & Notes	$	—	$	16,340,616,540	$	—	$	16,340,616,540
Money Market Funds		2,991,434,472		—		—		2,991,434,472


	$	2,991,434,472	$	16,340,616,540	$	—	$	19,332,051,012




Affiliated Issuer	Value at 02/28/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 02/28/22		Shares Held at 02/28/22 (000)		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	2,257,845,413	$	341,579,052	^(a)	$	—		$	(280,050	)	$	(692,720	)	$	2,598,451,695		2,597,932	$	3,978,981	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		932,584,000		—			(728,800,000	)^(a)		—			—			203,784,000		203,784		35,620			—


									$	(280,050	)	$	(692,720	)	$	2,802,235,695			$	4,014,601		$	—


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


ASSETS
Investments in securities, at value (including securities on loan)^(a):
Unaffiliated^(b)	$	16,340,616,540		$	35,114,869,841
Affiliated^(c)		2,991,434,472			2,802,235,695
Cash		399,133			—
Receivables:
Investments sold		7,360,310			316,429,517
Securities lending income — Affiliated		673,029			343,751
Capital shares sold		17,118,688			44,084,909
Dividends		3,434			5,427
Interest		231,938,814			334,809,008


Total assets		19,589,544,420			38,612,778,148


LIABILITIES
Bank overdraft		—			3,894,983
Collateral on securities loaned, at value		2,859,723,460			2,597,822,268
Payables:
Investments purchased		52,695,344			185,022,469
Capital shares redeemed		991,745			—
Investment advisory fees		6,360,225			3,606,622


Total liabilities		2,919,770,774			2,790,346,342


NET ASSETS	$	16,669,773,646		$	35,822,431,806


NET ASSETS CONSIST OF:
Paid-in capital	$	19,086,219,034		$	38,565,039,969
Accumulated loss		(2,416,445,388	)		(2,742,608,163	)


NET ASSETS	$	16,669,773,646		$	35,822,431,806


Shares outstanding		199,700,000			287,700,000

Net asset value	$	83.47		$	124.51

Shares authorized		Unlimited			Unlimited

Par value		None			None


^(a) Securities loaned, at value	$	2,764,124,311		$	2,552,051,723
^(b) Investments, at cost — Unaffiliated	$	17,210,885,845		$	37,836,920,174
^(c) Investments, at cost — Affiliated	$	2,991,228,911		$	2,801,803,726


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


INVESTMENT INCOME
Dividends — Unaffiliated	$	6,711		$	—
Dividends — Affiliated		237,548			213,236
Interest — Unaffiliated		797,433,018			929,612,605
Securities lending income — Affiliated — net		7,216,954			3,801,365

Other income — Unaffiliated		1,147,853			—


Total investment income		806,042,084			933,627,206


EXPENSES
Investment advisory fees		97,173,850			55,071,034
Professional fees		390			390


Total expenses		97,174,240			55,071,424


Net investment income		708,867,844			878,555,782


REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — Unaffiliated		71,199,289			(60,077,384	)
Investments — Affiliated		(385,166	)		(280,050	)
In-kind redemptions — Unaffiliated		154,930,282			728,138,924


Net realized gain		225,744,405			667,781,490

Net change in unrealized appreciation (depreciation) on:
Investments — Unaffiliated		(876,904,861	)		(2,919,661,319	)

Investments — Affiliated		(732,598	)		(692,720	)


Net change in unrealized appreciation (depreciation)		(877,637,459	)		(2,920,354,039	)


Net realized and unrealized loss		(651,893,054	)		(2,252,572,549	)


NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	56,974,790		$	(1,374,016,767	)


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


		Year Ended			Year Ended				Year Ended			Year Ended
		02/28/22			02/28/21				02/28/22			02/28/21


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income		$	708,867,844		$	1,125,851,046			$	878,555,782		$	1,362,710,813
Net realized gain			225,744,405			757,857,037				667,781,490			3,777,230,508
Net change in unrealized appreciation (depreciation)			(877,637,459	)		582,713,820				(2,920,354,039	)		(1,902,016,263	)


Net increase (decrease) in net assets resulting from operations			56,974,790			2,466,421,903				(1,374,016,767	)		3,237,925,058


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders			(814,300,808	)		(1,193,249,170	)			(915,064,580	)		(1,367,322,962	)


CAPITAL SHARE TRANSACTIONS
Net increase (decrease) in net assets derived from capital share transactions			(5,046,604,584	)		7,744,232,001				(8,095,864,525	)		11,230,017,969


NET ASSETS
Total increase (decrease) in net assets			(5,803,930,602	)		9,017,404,734				(10,384,945,872	)		13,100,620,065
Beginning of year			22,473,704,248			13,456,299,514				46,207,377,678			33,106,757,613


End of year		$	16,669,773,646		$	22,473,704,248			$	35,822,431,806		$	46,207,377,678


	iShares iBoxx $ High Yield Corporate Bond ETF


	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 year	$	86.84		$	85.71		$	85.71		$	86.13		$	88.08

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


Net increase from investment operations		0.11			5.34			4.37			4.10			2.50


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


Total distributions		(3.48	)		(4.21	)		(4.37	)		(4.52	)		(4.45	)


Net asset value, end of year	$	83.47		$	86.84		$	85.71		$	85.71		$	86.13


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


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


Net investment income		3.52	%		4.59	%		4.83	%		5.25	%		5.05	%


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


Portfolio turnover rate^(f)		19	%		20	%		20	%		14	%		17	%


	iShares iBoxx $ Investment Grade Corporate Bond ETF


	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 year	$	132.40		$	132.27		$	115.89		$	117.11		$	118.42

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


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


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


Total distributions		(3.02	)		(3.60	)		(4.19	)		(4.17	)		(3.78	)


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


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


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


Net investment income		2.21	%		2.66	%		3.35	%		3.62	%		3.22	%


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


Portfolio turnover rate^(f)		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		Market Value of Securities on Loan		Cash Collateral Received	^(a)		Non-Cash Collateral Received		Net Amount


iBoxx $ High Yield Corporate Bond
Barclays Bank PLC	$	176,881,035	$	176,881,035		$	—	$	—
Barclays Capital, Inc.		67,831,034		67,831,034			—		—
BMO Capital Markets Corp.		45,161,604		45,161,604			—		—
BNP Paribas SA		550,363,201		550,363,201			—		—
BofA Securities, Inc.		74,327,383		74,327,383			—		—
Citadel Clearing LLC		25,199,873		25,199,873			—		—
Citigroup Global Markets, Inc.		145,401,200		145,401,200			—		—
Credit Suisse Securities (USA) LLC		14,432,773		14,432,773			—		—
Deutsche Bank Securities, Inc.		76,151,624		76,151,624			—		—
Goldman Sachs & Co. LLC		508,358,308		508,358,308			—		—
HSBC Securities (USA), Inc.		7,580,121		7,580,121			—		—
J.P. Morgan Securities LLC		584,270,724		584,270,724			—		—
Jefferies LLC		10,537,098		10,537,098			—		—
Mitsubishi UFJ Securities Holdings Co., Ltd.		20,934,400		20,934,400			—		—
Morgan Stanley		130,150,490		130,150,490			—		—
Nomura Securities International, Inc.		54,556,869		54,556,869			—		—
Pershing LLC		2,655,496		2,655,496			—		—
RBC Capital Markets LLC		175,687,647		175,687,647			—		—
Scotia Capital (USA), Inc.		24,515,933		24,515,933			—		—
State Street Bank & Trust Co.		7,660,802		7,660,802			—		—
Toronto Dominion Bank		5,066,082		5,066,082			—		—
UBS AG		4,432,366		4,432,366			—		—
Wells Fargo Bank N.A.		5,604,332		5,604,332			—		—
Wells Fargo Securities LLC		46,363,916		46,363,916			—		—


	$	2,764,124,311	$	2,764,124,311		$	—	$	—

iBoxx $ Investment Grade Corporate Bond
Barclays Bank PLC	$	250,657,734	$	250,657,734		$	—	$	—
Barclays Capital, Inc.		59,974,885		59,974,885			—		—
BMO Capital Markets Corp.		3,052,124		3,052,124			—		—
BNP Paribas SA		299,978,117		299,978,117			—		—
BofA Securities, Inc.		109,507,560		109,507,560			—		—
Citadel Clearing LLC		4,949,303		4,949,303			—		—
Citigroup Global Markets, Inc.		36,554,598		36,554,598			—		—
Credit Suisse Securities (USA) LLC		76,528,191		76,528,191			—		—
Deutsche Bank Securities, Inc.		109,390,948		109,390,948			—		—
Goldman Sachs & Co. LLC		214,809,414		214,809,414			—		—
HSBC Securities (USA), Inc.		276,573,319		276,573,319			—		—
J.P. Morgan Securities LLC		332,048,950		332,048,950			—		—
Jefferies LLC		3,138,887		3,138,887			—		—
Mitsubishi UFJ Securities Holdings Co., Ltd.		78,195,549		78,195,549			—		—
Morgan Stanley		190,081,712		190,081,712			—		—
Nomura Securities International, Inc.		19,639,285		19,639,285			—		—
Pershing LLC		25,778,842		25,778,842			—		—
RBC Capital Markets LLC		388,612,429		388,612,429			—		—
Scotia Capital (USA), Inc.		19,947,514		19,947,514			—		—
State Street Bank & Trust Co.		8,040,096		8,040,096			—		—
TD Securities (USA) LLC		13,607,423		13,607,423			—		—
Toronto Dominion Bank		7,013,903		7,013,903			—		—
Wells Fargo Securities LLC		23,970,940		23,970,940			—		—


	$	2,552,051,723	$	2,552,051,723		$	—	$	—



Aggregate Average Daily Net Assets	Investment Advisory Fee

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 Fee

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	$	2,685,968
iBoxx $ Investment Grade Corporate Bond		1,628,888



iShares ETF	Purchases		Sales		Net Realized Gain (Loss)

iBoxx $ High Yield Corporate Bond	$	27,733,998	$	133,672,381	$	(3,460,955)
iBoxx $ Investment Grade Corporate Bond		104,307,159		39,189,504		(806,781)



iShares ETF	In-kind Purchases		In-kind Sales

iBoxx $ High Yield Corporate Bond	$	30,306,324,917	$	36,268,783,874
iBoxx $ Investment Grade Corporate Bond		43,590,475,508		51,393,965,457



iShares ETF	Paid-in Capital		Accumulated Loss

iBoxx $ High Yield Corporate Bond	$	153,982,276	$	(153,982,276)
iBoxx $ Investment Grade Corporate Bond		724,183,841		(724,183,841)




iShares ETF	Year Ended 02/28/22		Year Ended 02/28/21


iBoxx $ High Yield Corporate Bond
Ordinary income	$	814,300,808	$	1,193,249,170


iBoxx $ Investment Grade Corporate Bond
Ordinary income	$	915,064,580	$	1,367,322,962



iShares ETF		Undistributed Ordinary Income		Non-expiring Capital Loss Carryforwards	^(a)		Net Unrealized Gains (Losses)	^(b)		Total

iBoxx $ High Yield Corporate Bond	$	66,886,565	$	(1,538,239,704	)	$	(945,092,249	)	$	(2,416,445,388	)
iBoxx $ Investment Grade Corporate Bond		74,184,199		(81,641,410	)		(2,735,150,952	)		(2,742,608,163	)



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

iBoxx $ High Yield Corporate Bond	$	20,277,143,261	$	75,467,574	$	(1,020,559,823	)	$	(945,092,249	)
iBoxx $ Investment Grade Corporate Bond		40,652,256,488		14,233,782		(2,749,384,734	)		(2,735,150,952	)



iShares ETF	Qualified Dividend Income

iBoxx $ High Yield Corporate Bond	$	6,713



iShares ETF	Federal Obligation Interest

iBoxx $ High Yield Corporate Bond	$	15,459

iBoxx $ Investment Grade Corporate Bond		12,899



iShares ETF	Interest Dividends

iBoxx $ High Yield Corporate Bond	$	791,856,873

iBoxx $ Investment Grade Corporate Bond		889,186,816