The Markets in Review

Dear Shareholder,

The 12-month reporting period as of April 30, 2022 saw the emergence of significant challenges that disrupted the economic recovery and strong financial markets which characterized 2021. The U.S. economy shrank in the first quarter of 2022, ending the run of robust growth which followed reopening and the development of the COVID-19 vaccines. Rapid changes in consumer spending led to supply constraints and elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the invasion has presented challenges for both investors and policymakers.

Equity prices were mixed but mostly down, as persistently high inflation drove investors’ expectations for higher interest rates, particularly weighing 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 were nearly flat. Both emerging market stocks and international equities from developed markets fell significantly, pressured by rising interest rates and a strengthening U.S. dollar.

The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose during the reporting period as increasing inflation drove investors’ expectations for higher interest rates. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).

The U.S. Federal Reserve (the “Fed”), acknowledging that inflation is growing faster than expected, raised interest rates in March 2022, the first increase of this business cycle. Furthermore, the Fed wound down its bond-buying programs and raised the prospect of reversing the flow and reducing its balance sheet. Continued high inflation and the Fed’s new tone led many analysts to anticipate that the Fed will continue to 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, leading to major volatility in energy and metal markets. Sanctions on Russia, Europe’s top energy supplier, and general wartime disruption are likely to drive already-high commodity prices even higher. We believe sharp increases in energy prices will exacerbate inflationary pressure while also constraining economic growth. Combating inflation without stifling a recovery, while buffering against ongoing supply and price shocks amid the ebb and flow of the pandemic, will be an especially challenging environment for setting effective monetary policy. Despite the likelihood of more rate increases on the horizon, we believe the Fed will err on the side of protecting employment, even at the expense of higher inflation.

In this environment, we favor an overweight to equities, as valuations have become more attractive and inflation-adjusted interest rates remain low. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and healthcare, are particularly attractive in the long term. We favor U.S. equities due to strong earnings momentum, while Japanese equities should benefit from supportive monetary and fiscal policy. We are underweight credit overall, but inflation-protected U.S. Treasuries, Asian fixed income, and emerging market local-currency bonds offer potential opportunities for additional yield. We believe that international diversification and a focus on sustainability and quality can help provide portfolio resilience.

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 April 30, 2022

	6-Month	12-Month

U.S. large cap equities (S&P 500^® Index)	(9.65)%	0.21%

U.S. small cap equities (Russell 2000^® Index)	(18.38)	(16.87)

International equities (MSCI Europe, Australasia, Far East Index)	(11.80)	(8.15)

Emerging market equities (MSCI Emerging Markets Index)	(14.15)	(18.33)

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.07	0.08

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(10.29)	(8.86)

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)	(9.47)	(8.51)

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)	(7.90)	(7.88)

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)	(7.40)	(5.22)

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

The iShares 0-5 Year 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 with remaining maturities of less than five years, as represented by the Markit iBoxx^® USD Liquid High Yield 0-5 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.

The inception date of the Fund was 10/15/13. The first day of secondary market trading was 10/17/13.

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 8 for more information.

The iShares Broad USD 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 ICE BofA U.S. High Yield Constrained 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.

The inception date of the Fund was 10/25/17. The first day of secondary market trading was 10/26/17.

On 3/1/2021 the Fund began to track the 4pm pricing variant of the ICE BofA U.S. High Yield Constrained Index. Historical index data prior to 3/1/2021 is for the 3pm pricing variant of the ICE BofA U.S. High Yield Constrained Index. Index data on and after 3/1/2021 is for the 4pm pricing variant of the ICE BofA U.S. High Yield Constrained Index.

The iShares ESG Advanced 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 from issuers with a favorable environmental, social and governance rating as identified by the index provider, while applying extensive screens for involvement in controversial activities, as represented by the Bloomberg MSCI US High Yield Choice ESG Screened 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.

The inception date of the Fund was 6/14/16. The first day of secondary market trading was 6/16/16.

Index performance through September 14, 2020 reflects the performance of the Markit iBoxx USD Liquid High Yield ex-Oil & Gas Index. Index performance beginning on September 15, 2020 reflects the performance of the Bloomberg MSCI US High Yield Choice ESG Screened Index.

The iShares Fallen Angels USD Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield corporate bonds that were previously rated investment grade, as represented by the Bloomberg U.S. High Yield Fallen Angel 3% Capped 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 the may or may not hold all of the securities that are included in the Index.

The inception date of the Fund was 6/14/16. The first day of secondary market trading was 6/16/16.

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. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. 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 — 0.3%
Clear Channel International BV, 6.63%, 08/01/25 (Call 05/10/22)^(a)	$	4,170	$	4,214,535
Outfront Media Capital LLC/Outfront Media Capital Corp., 6.25%, 06/15/25 (Call 06/15/22)^(a)(b)		4,805		4,878,721
Summer BC Bidco B LLC, 5.50%, 10/31/26 (Call 07/15/23)^(a)		4,160		3,963,440


				13,056,696

Aerospace & Defense — 3.6%
Bombardier Inc.
7.13%, 06/15/26 (Call 06/15/23)^(a)		12,855		11,892,032
7.50%, 12/01/24 (Call 05/30/22)^(a)(b)		8,236		8,228,239
7.50%, 03/15/25 (Call 05/30/22)^(a)(b)		13,243		12,830,259
7.88%, 04/15/27 (Call 05/30/22)^(a)		1,833		1,707,592
F-Brasile SpA/F-Brasile U.S. LLC, Series XR, 7.38%, 08/15/26 (Call 08/15/22)^(a)(b)		4,915		4,337,488
Hexcel Corp., 4.20%, 02/15/27 (Call 11/15/26)^(b)		1,610		1,579,915
Howmet Aerospace Inc.
5.13%, 10/01/24 (Call 07/01/24)^(b)		11,957		12,169,237
6.88%, 05/01/25 (Call 04/01/25)^(b)		6,624		6,997,726
Maxar Space Robotics LLC, 9.75%, 12/31/23 (Call 05/10/22)^(a)(b)		4,377		4,666,976
Rolls-Royce PLC, 3.63%, 10/14/25 (Call 07/14/25)^(a)(b)		10,446		9,793,125
Spirit AeroSystems Inc.
5.50%, 01/15/25 (Call 10/15/22)^(a)(b)		4,285		4,273,131
7.50%, 04/15/25 (Call 05/31/22)^(a)		13,621		13,831,827
TransDigm Inc.
6.25%, 03/15/26 (Call 05/31/22)^(a)(b)		46,275		46,161,242
6.38%, 06/15/26 (Call 05/31/22)		10,137		9,984,945
7.50%, 03/15/27 (Call 05/31/22)^(b)		5,000		5,041,111
8.00%, 12/15/25 (Call 05/31/22)^(a)(b)		9,930		10,335,343
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/31/22)^(b)		4,952		4,913,312
Triumph Group Inc.
6.25%, 09/15/24 (Call 05/31/22)^(a)(b)		5,294		5,061,947
7.75%, 08/15/25 (Call 05/31/22)^(b)		5,406		5,233,008
8.88%, 06/01/24 (Call 02/01/23)^(a)		5,592		5,779,723


				184,818,178

Agriculture — 0.2%
Darling Ingredients Inc., 5.25%, 04/15/27 (Call 05/10/22)^(a)		5,125		5,128,844
Vector Group Ltd., 10.50%, 11/01/26 (Call 05/31/22)^(a)		5,850		5,950,912


				11,079,756

Airlines — 3.0%
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)^(a)		12,360		11,371,200
American Airlines Group Inc.
3.75%, 03/01/25^(a)(b)		5,098		4,565,004
5.00%, 06/01/22^(a)(b)		5,637		5,635,430
American Airlines Inc., 11.75%, 07/15/25^(a)(b)		25,445		29,261,750
American Airlines Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/26^(a)		36,003		35,426,502
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)^(b)		9,950		9,477,375
3.80%, 04/19/23 (Call 03/19/23)^(b)		3,377		3,371,647
7.38%, 01/15/26 (Call 12/15/25)^(b)		11,196		11,871,399
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)^(a)(b)		12,549		12,250,961
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (Call 09/20/23)^(a)		5,375		5,664,103


Security	Par (000)		Value

Airlines (continued)
United Airlines Holdings Inc., 4.88%, 01/15/25^(b)	$	3,282	$	3,176,167
United Airlines Inc., 4.38%, 04/15/26 (Call 10/15/25)^(a)(b)		20,939		20,053,280


				152,124,818

Apparel — 0.6%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)		9,388		9,304,369
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		9,240		8,979,102
Michael Kors USA Inc., 4.50%, 11/01/24 (Call 09/01/24)^(a)		3,792		3,704,973
Under Armour Inc., 3.25%, 06/15/26 (Call 03/15/26)^(b)		6,037		5,560,655
William Carter Co. (The), 5.63%, 03/15/27 (Call 05/31/22)^(a)(b)		4,475		4,459,114


				32,008,213

Auto Manufacturers — 3.6%
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 (Call 11/01/24)^(a)(b)		11,708		11,795,810
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(b)		9,205		8,836,800
9.00%, 04/22/25 (Call 03/22/25)^(b)		2,430		2,698,819
Ford Motor Credit Co. LLC
2.30%, 02/10/25 (Call 01/10/25)		6,750		6,265,525
2.70%, 08/10/26 (Call 07/10/26)^(b)		9,081		8,087,968
2.98%, 08/03/22 (Call 07/03/22)^(b)		4,435		4,435,036
3.09%, 01/09/23		8,582		8,589,209
3.10%, 05/04/23		5,341		5,274,237
3.35%, 11/01/22		6,930		6,928,241
3.37%, 11/17/23^(b)		4,920		4,840,985
3.38%, 11/13/25 (Call 10/13/25)		12,861		12,113,454
3.55%, 10/07/22^(b)		3,149		3,151,893
3.66%, 09/08/24		4,750		4,614,625
3.81%, 01/09/24 (Call 11/09/23)^(b)		3,958		3,902,366
4.06%, 11/01/24 (Call 10/01/24)^(b)		7,997		7,832,162
4.13%, 08/04/25		8,201		7,910,183
4.14%, 02/15/23 (Call 01/15/23)		4,825		4,815,350
4.25%, 09/20/22^(b)		5,015		5,033,806
4.27%, 01/09/27 (Call 11/09/26)		5,250		4,964,137
4.38%, 08/06/23		5,390		5,393,234
4.39%, 01/08/26^(b)		6,812		6,560,893
4.54%, 08/01/26 (Call 06/01/26)^(b)		4,086		3,907,238
4.69%, 06/09/25 (Call 04/09/25)		3,321		3,255,255
5.13%, 06/16/25 (Call 05/16/25)		10,630		10,529,015
5.58%, 03/18/24 (Call 02/18/24)		8,106		8,166,795
Jaguar Land Rover Automotive PLC
5.63%, 02/01/23 (Call 05/31/22)^(a)(b)		4,469		4,441,069
7.75%, 10/15/25 (Call 10/15/22)^(a)		7,030		7,018,611
JB Poindexter & Co. Inc., 7.13%, 04/15/26 (Call 05/31/22)^(a)		5,921		5,920,990
Mclaren Finance PLC, 7.50%, 08/01/26 (Call 08/01/23)^(a)		6,465		6,228,517


				183,512,223

Auto Parts & Equipment — 1.5%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 05/30/22)^(a)(b)		8,305		7,401,831
American Axle & Manufacturing Inc.
6.25%, 03/15/26 (Call 05/10/22)^(b)		2,109		2,010,932
6.50%, 04/01/27 (Call 05/31/22)^(b)		4,750		4,402,399
Clarios Global LP, 6.75%, 05/15/25 (Call 05/30/22)^(a)(b)		4,528		4,621,654
Clarios Global LP/Clarios US Finance Co., 6.25%, 05/15/26 (Call 05/31/22)^(a)(b)		10,316		10,420,046
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 05/30/22)^(a)		4,795		4,738,553


Security	Par (000)		Value

Auto Parts & Equipment (continued)
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(b)	$	3,000	$	2,793,126
5.00%, 05/31/26 (Call 05/31/22)^(b)		10,695		10,244,473
9.50%, 05/31/25 (Call 05/31/22)		10,290		10,790,197
Tenneco Inc., 5.00%, 07/15/26 (Call 05/31/22)^(b)		5,717		5,481,174
ZF North America Capital Inc., 4.75%, 04/29/25^(a)(b)		10,976		10,701,600


				73,605,985

Banks — 1.6%
Commerzbank AG, 8.13%, 09/19/23^(a)		9,563		9,954,557
Deutsche Bank AG, 4.50%, 04/01/25^(b)		15,763		15,467,759
Freedom Mortgage Corp.
6.63%, 01/15/27 (Call 01/15/24)^(a)(b)		7,020		6,072,300
7.63%, 05/01/26 (Call 05/01/23)^(a)(b)		5,650		5,141,500
8.13%, 11/15/24 (Call 05/31/22)^(a)(b)		4,046		3,920,068
8.25%, 04/15/25 (Call 05/31/22)^(a)(b)		5,840		5,634,975
Intesa Sanpaolo SpA
5.02%, 06/26/24^(a)		22,042		21,506,917
5.71%, 01/15/26^(a)(b)		12,585		12,524,556


				80,222,632

Building Materials — 0.5%
Eco Material Technologies Inc., 7.88%, 01/31/27 (Call 01/31/24)^(a)		5,325		5,148,609
Jeld-Wen Inc., 4.63%, 12/15/25 (Call 05/31/22)^(a)		4,219		3,976,671
Koppers Inc., 6.00%, 02/15/25 (Call 05/31/22)^(a)		5,417		5,246,365
Standard Industries Inc./NJ, 5.00%, 02/15/27 (Call 05/31/22)^(a)(b)		8,965		8,449,513


				22,821,158

Chemicals — 1.3%
Cerdia Finanz GmbH, 10.50%, 02/15/27 (Call 02/15/24)^(a)		5,860		5,191,590
Cornerstone Chemical Co., 6.75%, 08/15/24 (Call 05/31/22)^(a)(b)		4,607		4,137,316
GCP Applied Technologies Inc., 5.50%, 04/15/26 (Call 05/16/22)^(a)		2,306		2,324,736
GPD Companies Inc., 10.13%, 04/01/26 (Call 05/31/22)^(a)(b)		4,331		4,515,068
INEOS Quattro Finance 2 PLC., 3.38%, 01/15/26 (Call 01/15/23)^(a)(b)		4,970		4,497,912
NOVA Chemicals Corp.
4.88%, 06/01/24 (Call 03/03/24)^(a)		10,074		9,935,483
5.00%, 05/01/25 (Call 01/31/25)^(a)(b)		4,765		4,696,503
Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 04/01/25 (Call 05/31/22)^(a)		5,025		4,849,125
Rayonier AM Products Inc.
5.50%, 06/01/24 (Call 05/31/22)^(a)(b)		3,889		3,823,495
7.63%, 01/15/26 (Call 01/15/24)^(a)(b)		4,935		4,687,263
SCIL USA Holdings LLC, Class-H, 5.38%, 11/01/26 (Call 11/01/23)^(a)		7,790		7,108,375
SPCM SA, 3.13%, 03/15/27 (Call 03/15/24)^(a)		1,095		965,288
TPC Group Inc., 10.50%, 08/01/24 (Call 05/31/22)^(a)(c)(d)		4,548		1,476,465
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc., 5.38%, 09/01/25 (Call 05/30/22)^(a)(b)		4,780		4,618,825
Venator Finance Sarl/Venator Materials LLC, 5.75%, 07/15/25 (Call 05/31/22)^(a)(b)		3,520		2,886,400


				65,713,844

Coal — 0.1%
Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 7.50%, 05/01/25 (Call 05/31/22)^(a)(b)		3,390		3,398,475


Security	Par (000)		Value

Commercial Services — 3.6%
ADT Security Corp. (The), 4.13%, 06/15/23	$	7,023	$	6,966,816
Ahern Rentals Inc., 7.38%, 05/15/23 (Call 05/31/22)^(a)(b)		5,155		4,820,511
Albion Financing 1 Sarl/Aggreko Holdings Inc., 6.13%, 10/15/26 (Call 10/15/23)^(a)		5,580		5,255,847
Albion Financing 2SARL, 8.75%, 04/15/27 (Call 10/15/23)^(a)		4,250		4,040,050
Allied Universal Holdco LLC/Allied Universal Finance Corp., 6.63%, 07/15/26 (Call 07/15/22)^(a)		19,890		19,245,564
Aptim Corp., 7.75%, 06/15/25 (Call 05/16/22)^(a)(b)		4,930		3,856,903
APX Group Inc., 6.75%, 02/15/27 (Call 02/15/23)^(a)(b)		6,475		6,400,942
Block Inc., 2.75%, 06/01/26 (Call 05/01/26)^(a)(b)		10,510		9,578,036
Brink’s Co. (The), 5.50%, 07/15/25 (Call 07/15/22)^(a)(b)		3,879		3,877,950
Cimpress PLC, 7.00%, 06/15/26 (Call 05/30/22)^(a)(b)		5,725		5,337,131
CoreCivic Inc., 8.25%, 04/15/26 (Call 04/15/24)		6,980		7,087,143
Garda World Security Corp., 4.63%, 02/15/27 (Call 02/15/23)^(a)(b)		6,101		5,538,183
Graham Holdings Co., 5.75%, 06/01/26 (Call 05/10/22)^(a)		2,400		2,419,632
Grand Canyon University, 4.13%, 10/01/24		4,370		4,241,085
Hertz Corp. (The), 4.63%, 12/01/26 (Call 12/01/23)^(a)		5,261		4,789,825
Legends Hospitality Holding Co. LLC/Legends Hospitality Co-Issuer Inc., 5.00%, 02/01/26 (Call 02/01/23)^(a)		4,427		4,158,024
MoneyGram International Inc., 5.38%, 08/01/26 (Call 08/01/23)^(a)(b)		5,520		5,602,800
Nielsen Co Luxembourg SARL (The), 5.00%, 02/01/25 (Call 05/30/22)^(a)(b)		5,400		5,406,750
Prime Security Services Borrower LLC/Prime Finance Inc.
5.25%, 04/15/24^(a)(b)		7,034		7,025,207
5.75%, 04/15/26^(a)		14,245		13,647,565
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 05/31/22)^(a)		4,738		4,750,556
RR Donnelley & Sons Co., 6.13%, 11/01/26 (Call 11/01/23)^(a)(b)		4,365		4,260,840
Sabre GLBL Inc.
7.38%, 09/01/25 (Call 09/01/22)^(a)(b)		9,253		9,354,135
9.25%, 04/15/25 (Call 03/16/25)^(a)(b)		7,725		8,253,487
Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., 4.63%, 11/01/26 (Call 11/01/22)^(a)(b)		4,465		4,253,515
Team Health Holdings Inc., 6.38%, 02/01/25 (Call 05/16/22)^(a)(b)		7,029		6,001,009
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 05/31/22)^(a)(b)		8,215		8,461,450
WASH Multifamily Acquisition Inc., 5.75%, 04/15/26 (Call 04/15/23)^(a)		8,680		8,445,623


				183,076,579

Computers — 0.9%
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 05/31/22)^(b)		3,937		2,563,971
9.38%, 07/15/25 (Call 07/15/22)^(a)(b)		7,134		6,313,590
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)^(a)		945		349,404
Presidio Holdings Inc., 4.88%, 02/01/27 (Call 02/01/23)^(a)		5,548		5,258,811
Seagate HDD Cayman
4.75%, 06/01/23^(b)		4,475		4,495,200
4.75%, 01/01/25^(b)		5,110		5,091,405
4.88%, 03/01/24 (Call 01/01/24)^(b)		5,348		5,379,048
Vericast Corp., 11.00%, 09/15/26 (Call 09/15/23)^(a)		12,497		11,774,372
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(b)		3,345		3,324,094


				44,549,895


Security	Par (000)		Value

Cosmetics & Personal Care — 0.4%
Coty Inc.
5.00%, 04/15/26 (Call 04/15/23)^(a)(b)	$	9,685	$	9,212,856
6.50%, 04/15/26 (Call 05/31/22)^(a)(b)		5,295		5,149,388
Oriflame Investment Holding PLC, 5.13%, 05/04/26 (Call 05/15/23)^(a)		5,135		3,628,519


				17,990,763

Distribution & Wholesale — 0.7%
Avient Corp.
5.25%, 03/15/23^(b)		4,911		4,948,528
5.75%, 05/15/25 (Call 05/31/22)^(a)		7,463		7,532,294
G-III Apparel Group Ltd., 7.88%, 08/15/25 (Call 08/15/22)^(a)(b)		3,373		3,509,606
KAR Auction Services Inc., 5.13%, 06/01/25 (Call 05/31/22)^(a)(b)		11,706		11,873,396
Wesco Aircraft Holdings Inc., 9.00%, 11/15/26 (Call 11/15/22)^(a)(b)		9,254		5,737,480
Wolverine Escrow LLC, 8.50%, 11/15/24 (Call 05/31/22)^(a)		5,948		3,301,140


				36,902,444

Diversified Financial Services — 4.1%
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)^(b)		11,053		11,358,615
Credit Acceptance Corp.
5.13%, 12/31/24 (Call 05/10/22)^(a)		4,274		4,230,562
6.63%, 03/15/26 (Call 05/10/22)^(b)		4,415		4,464,448
Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)^(a)(b)		7,675		7,641,767
Enova International Inc., 8.50%, 09/15/25 (Call 05/31/22)^(a)		3,750		3,724,922
Finance of America Funding LLC, 7.88%, 11/15/25 (Call 11/15/22)^(a)(b)		3,543		3,158,584
goeasy Ltd., 5.38%, 12/01/24 (Call 05/30/22)^(a)(b)		5,362		5,258,996
Home Point Capital Inc., 5.00%, 02/01/26 (Call 02/01/23)^(a)(b)		5,534		4,379,853
LD Holdings Group LLC, 6.50%, 11/01/25 (Call 11/01/22)^(a)(b)		5,215		4,312,649
Nationstar Mortgage Holdings Inc., 6.00%, 01/15/27 (Call 01/15/23)^(a)		6,450		6,258,826
Navient Corp.
5.00%, 03/15/27 (Call 09/15/26)^(b)		7,250		6,599,856
5.50%, 01/25/23^(b)		10,465		10,484,727
5.88%, 10/25/24^(b)		5,515		5,494,319
6.13%, 03/25/24		8,708		8,740,655
6.75%, 06/25/25^(b)		4,755		4,765,727
6.75%, 06/15/26^(b)		4,910		4,817,937
OneMain Finance Corp.
3.50%, 01/15/27 (Call 01/15/24)^(b)		7,610		6,696,800
5.63%, 03/15/23		7,775		7,852,750
6.13%, 03/15/24 (Call 09/15/23)^(b)		13,012		13,058,062
6.88%, 03/15/25		13,619		13,725,909
7.13%, 03/15/26^(b)		16,376		16,642,929
8.88%, 06/01/25 (Call 06/01/22)		4,556		4,777,194
Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., 6.38%, 02/01/27 (Call 02/01/24)^(a)(b)		4,030		4,062,867
PennyMac Financial Services Inc., 5.38%, 10/15/25 (Call 10/15/22)^(a)(b)		6,991		6,656,250
PHH Mortgage Corp., 7.88%, 03/15/26 (Call 03/15/23)^(a)(b)		3,740		3,370,675
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., 2.88%, 10/15/26 (Call 10/15/23)^(a)(b)		11,697		10,348,882
SLM Corp.
3.13%, 11/02/26 (Call 10/02/26)		5,435		4,962,834


Security	Par (000)		Value

Diversified Financial Services (continued)
4.20%, 10/29/25 (Call 09/29/25)^(b)	$	4,929	$	4,798,973
TMX Finance LLC/TitleMax Finance Corp., 11.13%, 04/01/23 (Call 05/31/22)^(a)		3,596		3,549,552
United Wholesale Mortgage LLC
5.50%, 11/15/25 (Call 11/15/22)^(a)(b)		7,501		6,891,544
5.75%, 06/15/27 (Call 06/15/24)^(a)(b)		1,865		1,606,698
VistaJet Malta Finance PLC/XO Management Holding Inc., 7.88%, 05/01/27^(a)		5,275		4,947,950


				209,642,312

Electric — 1.3%
Calpine Corp., 5.25%, 06/01/26 (Call 05/31/22)^(a)(b)		4,380		4,349,340
DPL Inc., 4.13%, 07/01/25 (Call 04/01/25)		4,649		4,507,670
Drax Finco PLC, 6.63%, 11/01/25 (Call 05/10/22)^(a)		5,035		5,063,246
FirstEnergy Corp., Series A, 3.35%, 07/15/22 (Call 05/31/22)		2,866		2,858,477
FirstEnergy Transmission LLC, 4.35%, 01/15/25 (Call 10/15/24)^(a)		65		64,871
InterGen NV, 7.00%, 06/30/23 (Call 05/30/22)^(a)		3,554		3,482,328
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)(b)		4,845		4,554,300
4.25%, 07/15/24 (Call 04/15/24)^(a)		7,927		7,859,224
4.25%, 09/15/24 (Call 07/15/24)^(a)		25		24,635
NRG Energy Inc., 6.63%, 01/15/27 (Call 05/16/22)		4,778		4,861,615
Terraform Global Operating LLC, 6.13%, 03/01/26 (Call 05/31/22)^(a)(b)		3,095		3,039,935
TransAlta Corp., 4.50%, 11/15/22 (Call 08/15/22)		3,037		3,034,532
Vistra Operations Co. LLC
5.50%, 09/01/26 (Call 05/10/22)^(a)(b)		9,980		9,948,812
5.63%, 02/15/27 (Call 05/10/22)^(a)(b)		13,941		13,712,368


				67,361,353

Electrical Components & Equipment — 0.3%
WESCO Distribution Inc., 7.13%, 06/15/25 (Call 06/15/22)^(a)		16,737		17,385,559


Electronics — 0.5%
Likewize Corp., 9.75%, 10/15/25 (Call 10/15/22)^(a)		4,164		4,049,490
Schweitzer-Mauduit International Inc., 6.88%, 10/01/26 (Call 05/30/22)^(a)		3,275		2,946,681
Sensata Technologies BV
4.88%, 10/15/23^(a)(b)		5,490		5,497,686
5.00%, 10/01/25^(a)(b)		7,489		7,432,215
5.63%, 11/01/24^(a)(b)		3,555		3,602,992


				23,529,064

Energy - Alternate Sources — 0.1%
Sunnova Energy Corp., 5.88%, 09/01/26 (Call 09/01/23)^(a)(b)		3,865		3,546,621
TerraForm Power Operating LLC, 4.25%, 01/31/23 (Call 10/31/22)^(a)(b)		3,924		3,933,319


				7,479,940

Engineering & Construction — 0.9%
AECOM, 5.13%, 03/15/27 (Call 12/15/26)^(b)		10,100		9,986,375
Artera Services LLC, 9.03%, 12/04/25 (Call 02/04/23)^(a)		9,975		9,544,204
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 05/31/22)^(a)(b)		10,148		9,158,570
Brundage-Bone Concrete Pumping Holdings Inc., 6.00%, 02/01/26 (Call 02/01/23)^(a)(b)		3,590		3,356,650
Fluor Corp., 3.50%, 12/15/24 (Call 09/15/24)^(b)		4,330		4,219,585
Promontoria Holding 264 BV, 7.88%, 03/01/27 (Call 03/01/24)^(a)		3,570		3,373,650


Security	Par (000)		Value

Engineering & Construction (continued)
Tutor Perini Corp., 6.88%, 05/01/25 (Call 05/16/22)^(a)(b)	$	4,729	$	4,425,162


				44,064,196

Entertainment — 3.6%
Banijay Entertainment SASU, 5.38%, 03/01/25 (Call 05/30/22)^(a)(b)		3,970		3,897,945
Caesars Entertainment Inc., 6.25%, 07/01/25 (Call 07/01/22)^(a)		35,676		36,086,988
Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 07/01/22)^(a)(b)		11,490		11,734,162
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 05/31/22)		4,500		4,376,250
5.50%, 05/01/25 (Call 05/31/22)^(a)(b)		11,660		11,690,607
Churchill Downs Inc., 5.50%, 04/01/27 (Call 05/31/22)^(a)		2,675		2,624,712
Cinemark USA Inc., 5.88%, 03/15/26 (Call 03/15/23)^(a)(b)		4,320		4,016,736
Golden Entertainment Inc., 7.63%, 04/15/26 (Call 05/31/22)^(a)(b)		3,720		3,812,070
International Game Technology PLC
4.13%, 04/15/26 (Call 04/15/23)^(a)		8,190		7,703,432
6.25%, 01/15/27 (Call 07/15/26)^(a)		7,775		7,893,336
6.50%, 02/15/25 (Call 08/15/24)^(a)(b)		10,776		10,917,884
Live Nation Entertainment Inc., 4.88%, 11/01/24 (Call 05/31/22)^(a)(b)		7,096		6,981,116
Merlin Entertainments Ltd., 5.75%, 06/15/26 (Call 03/17/26)^(a)(b)		4,225		4,134,215
Mohegan Gaming & Entertainment
7.88%, 10/15/24 (Call 05/16/22)^(a)(b)		5,099		5,211,815
8.00%, 02/01/26 (Call 02/01/23)^(a)(b)		12,006		10,538,867
Penn National Gaming Inc., 5.63%, 01/15/27 (Call 05/31/22)^(a)(b)		4,250		4,051,313
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26 (Call 11/01/22)^(a)		3,905		3,681,134
Scientific Games International Inc., 8.63%, 07/01/25 (Call 07/01/22)^(a)		5,846		6,134,617
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 05/31/22)^(a)(b)		10,428		10,387,539
5.50%, 04/15/27 (Call 05/31/22)^(a)		4,750		4,643,125
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)^(a)(b)		8,359		8,664,856
Vail Resorts Inc., 6.25%, 05/15/25 (Call 05/31/22)^(a)(b)		6,865		7,046,601
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.75%, 04/15/25 (Call 05/31/22)^(a)(b)		6,765		6,966,597


				183,195,917

Environmental Control — 0.6%
GFL Environmental Inc.
3.75%, 08/01/25 (Call 08/01/22)^(a)(b)		8,065		7,658,423
4.25%, 06/01/25 (Call 06/01/22)^(a)(b)		5,182		5,018,923
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		5,055		4,974,777
Stericycle Inc., 5.38%, 07/15/24 (Call 05/16/22)^(a)(b)		7,706		7,679,491
Waste Pro USA Inc., 5.50%, 02/15/26 (Call 05/31/22)^(a)		5,022		4,444,972


				29,776,586

Food — 1.6%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.25%, 03/15/26 (Call 09/15/22)^(a)		8,251		7,513,223
3.50%, 02/15/23 (Call 12/15/22)^(a)(b)		7,201		7,191,999
4.63%, 01/15/27 (Call 01/15/23)^(a)		13,575		12,712,716
7.50%, 03/15/26 (Call 05/31/22)^(a)(b)		5,473		5,755,171
B&G Foods Inc., 5.25%, 04/01/25 (Call 05/31/22)^(b)		9,345		8,861,396


Security	Par (000)		Value

Food (continued)
Chobani LLC/Chobani Finance Corp. Inc., 7.50%, 04/15/25 (Call 05/31/22)^(a)(b)	$	5,305	$	4,982,350
Del Monte Foods Inc., 11.88%, 05/15/25 (Call 05/16/22)^(a)		5,918		6,463,125
Fresh Market Inc. (The), 9.75%, 05/01/23 (Call 05/31/22)^(a)		4,900		4,777,500
H-Food Holdings LLC/Hearthside Finance Co. Inc., 8.50%, 06/01/26 (Call 05/10/22)^(a)		3,395		3,172,749
Post Holdings Inc., 5.75%, 03/01/27 (Call 05/16/22)^(a)(b)		5,269		5,179,427
Sigma Holdco BV, 7.88%, 05/15/26 (Call 05/10/22)^(a)(b)		4,780		3,580,817
U.S. Foods Inc., 6.25%, 04/15/25 (Call 05/31/22)^(a)		11,649		11,983,909


				82,174,382

Food Service — 0.4%
Aramark Services Inc.
5.00%, 04/01/25 (Call 05/31/22)^(a)(b)		5,658		5,601,957
6.38%, 05/01/25 (Call 05/31/22)^(a)(b)		16,332		16,611,604


				22,213,561

Gas — 0.5%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)^(b)		7,597		7,490,290
5.63%, 05/20/24 (Call 03/20/24)		6,455		6,449,191
5.88%, 08/20/26 (Call 05/20/26)^(b)		6,949		6,844,765
Rockpoint Gas Storage Canada Ltd., 7.00%, 03/31/23 (Call 05/30/22)^(a)(b)		2,601		2,574,990


				23,359,236

Health Care - Products — 0.0%
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 7.38%, 06/01/25 (Call 06/01/22)^(a)		11		11,238


Health Care - Services — 5.6%
Air Methods Corp., 8.00%, 05/15/25 (Call 05/31/22)^(a)(b)		3,950		3,239,165
Akumin Inc., 7.00%, 11/01/25 (Call 11/01/22)^(a)(b)		4,540		3,829,591
CHS/Community Health Systems Inc.
5.63%, 03/15/27 (Call 12/15/23)^(a)(b)		16,000		15,271,640
8.00%, 03/15/26 (Call 05/31/22)^(a)		24,002		24,842,070
Encompass Health Corp., 5.75%, 09/15/25 (Call 05/31/22)^(b)		3,315		3,373,012
Envision Healthcare Corp., 8.75%, 10/15/26 (Call 05/31/22)^(a)		4,875		2,036,726
Global Medical Response Inc., 6.50%, 10/01/25 (Call 05/04/22)^(a)(b)		6,030		5,836,286
HCA Inc.
5.38%, 02/01/25^(b)		26,220		26,973,825
5.38%, 09/01/26 (Call 03/01/26)^(b)		10,133		10,376,319
5.88%, 05/01/23		11,557		11,908,911
5.88%, 02/15/26 (Call 08/15/25)^(b)		15,994		16,513,805
IQVIA Inc., 5.00%, 10/15/26 (Call 05/31/22)^(a)		12,016		11,936,344
Legacy LifePoint Health LLC
4.38%, 02/15/27 (Call 05/31/22)^(a)(b)		5,975		5,513,182
6.75%, 04/15/25 (Call 05/31/22)^(a)(b)		6,361		6,461,663
ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/22)^(a)		5,055		4,953,900
Prime Healthcare Services Inc., 7.25%, 11/01/25 (Call 11/01/22)^(a)		8,819		8,841,047
Quorum Health Corp., 11.63%, 04/15/23^(e)		2,653		—
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 05/31/22)^(a)(b)		15,371		15,794,778
RP Escrow Issuer LLC, 5.25%, 12/15/25 (Call 12/15/22)^(a)(b)		8,386		7,845,702
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)		12,815		12,718,887


Security	Par (000)		Value

Health Care - Services (continued)
Surgery Center Holdings Inc.
6.75%, 07/01/25 (Call 05/31/22)^(a)	$	3,462	$	3,419,096
10.00%, 04/15/27 (Call 05/31/22)^(a)		4,700		4,896,796
Tenet Healthcare Corp.
4.63%, 07/15/24 (Call 05/31/22)		7,910		7,888,564
4.63%, 09/01/24 (Call 05/16/22)^(a)(b)		6,556		6,531,415
4.88%, 01/01/26 (Call 05/31/22)^(a)		21,518		20,967,139
6.25%, 02/01/27 (Call 05/31/22)^(a)(b)		15,880		15,737,577
6.75%, 06/15/23		18,864		19,414,452
U.S. Acute Care Solutions LLC, 6.38%, 03/01/26 (Call 03/01/23)^(a)		7,393		7,184,610


				284,306,502

Holding Companies - Diversified — 0.9%
FS Energy & Power Fund, 7.50%, 08/15/23 (Call 05/15/23)^(a)		4,315		4,383,141
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.75%, 09/15/24 (Call 06/15/24)^(b)		10,910		10,637,250
6.25%, 05/15/26 (Call 05/31/22)^(b)		13,581		13,445,190
6.38%, 12/15/25 (Call 05/31/22)^(b)		7,080		7,050,808
Stena AB, 7.00%, 02/01/24^(a)(b)		3,832		3,832,958
Stena International SA
5.75%, 03/01/24^(a)		2,636		2,593,798
6.13%, 02/01/25 (Call 05/10/22)^(a)		3,855		3,858,855


				45,802,000

Home Builders — 0.6%
Empire Communities Corp., 7.00%, 12/15/25 (Call 12/15/22)^(a)		4,475		4,240,063
Forestar Group Inc., 3.85%, 05/15/26 (Call 05/15/23)^(a)(b)		4,305		3,866,536
KB Home
7.50%, 09/15/22		2,621		2,661,953
7.63%, 05/15/23 (Call 11/15/22)		2,063		2,114,575
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)^(b)		3,977		4,051,569
Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/22)^(a)(b)		4,761		4,846,182
Taylor Morrison Communities Inc./Taylor Morrison Holdings II Inc.
5.63%, 03/01/24 (Call 12/01/23)^(a)		3,295		3,312,181
5.88%, 04/15/23 (Call 01/15/23)^(a)		2,793		2,824,421
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(b)		4,560		4,626,844


				32,544,324

Household Products & Wares — 0.2%
Kronos Acquisition Holdings Inc./KIK Custom Products Inc., 5.00%, 12/31/26 (Call 06/30/23)^(a)(b)		4,762		4,220,719
Spectrum Brands Inc., 5.75%, 07/15/25 (Call 05/31/22)^(b)		5,169		5,212,219


				9,432,938

Housewares — 0.8%
CD&R Smokey Buyer Inc., 6.75%, 07/15/25 (Call 07/15/22)^(a)(b)		6,851		6,969,491
Newell Brands Inc.
4.10%, 04/01/23 (Call 02/01/23)^(b)		9,361		9,346,959
4.45%, 04/01/26 (Call 01/01/26)^(b)		20,802		20,614,782
4.88%, 06/01/25 (Call 05/01/25)^(b)		4,755		4,812,087


				41,743,319

Insurance — 1.2%
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 05/31/22)^(a)(b)		9,660		9,396,282
10.13%, 08/01/26 (Call 08/01/22)^(a)(b)		4,060		4,227,813


Security	Par (000)		Value

Insurance (continued)
AssuredPartners Inc., 7.00%, 08/15/25 (Call 05/31/22)^(a)(b)	$	4,835	$	4,768,084
Genworth Holdings Inc., 4.80%, 02/15/24^(b)		281		281,500
HUB International Ltd., 7.00%, 05/01/26 (Call 05/10/22)^(a)(b)		17,573		17,394,986
NMI Holdings Inc., 7.38%, 06/01/25 (Call 03/30/25)^(a)(b)		3,831		4,002,349
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)^(b)		5,254		5,114,112
4.88%, 03/15/27 (Call 09/15/26)^(b)		4,075		3,899,436
6.63%, 03/15/25 (Call 09/15/24)		5,633		5,730,963
USI Inc./NY, 6.88%, 05/01/25 (Call 05/31/22)^(a)(b)		6,320		6,223,449


				61,038,974

Internet — 1.4%
Cogent Communications Group Inc., 3.50%, 05/01/26 (Call 02/01/26)^(a)(b)		5,380		5,051,390
Millennium Escrow Corp., 6.63%, 08/01/26 (Call 08/01/23)^(a)		7,945		7,330,587
Northwest Fiber LLC/Northwest Fiber Finance Sub Inc., 4.75%, 04/30/27 (Call 10/15/23)^(a)		2,875		2,616,250
NortonLifeLock Inc.
3.95%, 06/15/22 (Call 05/31/22)		1,901		1,898,339
5.00%, 04/15/25 (Call 05/10/22)^(a)(b)		11,036		11,025,516
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)^(a)(b)		7,897		7,369,480
TripAdvisor Inc., 7.00%, 07/15/25 (Call 07/15/22)^(a)(b)		5,649		5,786,468
Uber Technologies Inc.
7.50%, 05/15/25 (Call 05/31/22)^(a)		10,304		10,638,983
8.00%, 11/01/26 (Call 05/31/22)^(a)(b)		16,505		17,288,987


				69,006,000

Iron & Steel — 0.3%
Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 07/15/26 (Call 05/30/22)^(a)		5,650		5,756,644
Cleveland-Cliffs Inc., 6.75%, 03/15/26 (Call 05/31/22)^(a)		9,955		10,427,862


				16,184,506

Leisure Time — 1.3%
Constellation Merger Sub Inc., 8.50%, 09/15/25 (Call 05/31/22)^(a)		4,302		4,008,926
CWT Travel Group Inc., 8.50%, 11/19/26 (Call 11/19/22)^(a)		6,275		6,194,994
Life Time Inc.
5.75%, 01/15/26 (Call 01/15/23)^(a)(b)		10,330		9,994,902
8.00%, 04/15/26 (Call 02/01/23)^(a)(b)		4,436		4,325,544
Lindblad Expeditions LLC, 6.75%, 02/15/27 (Call 02/15/24)^(a)		3,807		3,745,612
NCL Corp. Ltd.
3.63%, 12/15/24 (Call 05/10/22)^(a)(b)		4,993		4,643,490
5.88%, 03/15/26 (Call 12/15/25)^(a)(b)		14,362		13,268,334
5.88%, 02/15/27 (Call 02/15/24)^(a)		10,837		10,332,212
Viking Cruises Ltd., 13.00%, 05/15/25 (Call 05/16/22)^(a)		6,506		7,120,166


				63,634,180

Lodging — 3.2%
Boyd Gaming Corp., 8.63%, 06/01/25 (Call 06/01/22)^(a)		5		5,219
Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)^(a)		5,500		5,023,140
Hilton Domestic Operating Co. Inc., 5.38%, 05/01/25 (Call 05/10/22)^(a)(b)		6,911		7,024,072
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 05/16/22)		4,000		3,979,355
Marriott Ownership Resorts Inc., 6.13%, 09/15/25 (Call 05/31/22)^(a)(b)		449		459,664


Security	Par (000)		Value

Lodging (continued)
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 05/30/22)^(a)(b)	$	9,344	$	8,347,836
5.25%, 04/26/26 (Call 05/30/22)^(a)(b)		5,402		4,725,264
MGM China Holdings Ltd.
4.75%, 02/01/27 (Call 02/01/24)^(a)(b)		7,750		6,510,000
5.25%, 06/18/25 (Call 06/18/22)^(a)(b)		5,250		4,723,526
5.38%, 05/15/24 (Call 05/10/22)^(a)(b)		6,895		6,444,317
5.88%, 05/15/26 (Call 05/15/22)^(a)(b)		7,770		6,877,133
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		3,603		3,396,512
5.50%, 04/15/27 (Call 01/15/27)^(b)		7,350		7,109,005
5.75%, 06/15/25 (Call 03/15/25)		7,199		7,112,792
6.00%, 03/15/23		12,236		12,381,425
6.75%, 05/01/25 (Call 05/31/22)^(b)		6,872		7,045,552
Studio City Co. Ltd., 7.00%, 02/15/27 (Call 02/15/24)^(a)		3,700		3,450,250
Studio City Finance Ltd., 6.00%, 07/15/25 (Call 07/15/22)^(a)(b)		5,287		4,493,825
Travel + Leisure Co.
3.90%, 03/01/23 (Call 12/01/22)^(b)		3,349		3,336,441
6.00%, 04/01/27 (Call 01/01/27)^(b)		4,075		4,081,877
6.60%, 10/01/25 (Call 07/01/25)^(b)		3,345		3,458,730
6.63%, 07/31/26 (Call 04/30/26)^(a)		6,655		6,821,375
Universal Entertainment Corp., 8.50%, 12/11/24 (Call 12/11/23)^(a)(b)		7,435		7,550,242
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)		3,989		3,918,442
5.50%, 03/01/25 (Call 12/01/24)^(a)		19,006		18,366,258
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 05/10/22)^(a)(b)		5,551		4,961,266
5.50%, 01/15/26 (Call 06/15/22)^(a)		9,755		8,432,308


				160,035,826

Machinery — 0.5%
Cleaver-Brooks Inc., 7.88%, 03/01/23 (Call 05/31/22)^(a)(b)		3,128		2,968,807
Maxim Crane Works Holdings Capital LLC, 10.13%, 08/01/24 (Call 05/31/22)^(a)		1,224		1,212,127
Stevens Holding Co. Inc., 6.13%, 10/01/26 (Call 10/01/23)^(a)(b)		4,325		4,379,063
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 05/30/22)^(a)(b)		6,435		6,260,182
Weir Group PLC (The), 2.20%, 05/13/26 (Call 04/13/26)^(a)		8,220		7,431,399
Welbilt Inc., 9.50%, 02/15/24 (Call 05/31/22)^(b)		3,078		3,089,789

				25,341,367

Manufacturing — 0.7%
EnPro Industries Inc., 5.75%, 10/15/26 (Call 05/31/22)^(b)		3,000		3,004,320
FXI Holdings Inc.
7.88%, 11/01/24 (Call 05/31/22)^(a)(b)		4,977		4,894,531
12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		7,960		8,440,784
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 (Call 05/31/22)^(a)(b)		6,234		6,121,788
Hillenbrand Inc.
5.00%, 09/15/26 (Call 07/15/26)		4,205		4,183,975
5.75%, 06/15/25 (Call 06/15/22)^(b)		3,290		3,331,300
Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24)^(b)		4,555		4,541,335


				34,518,033

Media — 4.9%
AMC Networks Inc.
4.75%, 08/01/25 (Call 05/31/22)^(b)		8,835		8,531,297
5.00%, 04/01/24 (Call 05/31/22)^(b)		3,666		3,629,340


Security	Par (000)		Value

Media (continued)
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 05/16/22)^(a)(b)	$	6,747	$	6,744,639
5.50%, 05/01/26 (Call 05/31/22)^(a)(b)		3,480		3,488,700
Cengage Learning Inc., 9.50%, 06/15/24 (Call 05/31/22)^(a)(b)		5,752		5,615,390
CSC Holdings LLC
5.25%, 06/01/24^(b)		8,557		8,375,164
5.50%, 04/15/27 (Call 05/31/22)^(a)		13,300		12,840,219
5.88%, 09/15/22^(b)		6,751		6,776,675
Cumulus Media New Holdings Inc., 6.75%, 07/01/26 (Call 07/01/22)^(a)(b)		4,430		4,430,000
DISH DBS Corp.
5.00%, 03/15/23^(b)		14,663		14,514,024
5.25%, 12/01/26 (Call 06/01/26)^(a)		28,035		25,670,248
5.88%, 07/15/22^(b)		19,039		19,086,597
5.88%, 11/15/24^(b)		20,353		19,704,010
7.75%, 07/01/26^(b)		20,478		19,287,819
Gannett Holdings LLC, 6.00%, 11/01/26 (Call 11/01/23)^(a)(b)		3,979		3,702,837
Gray Television Inc., 5.88%, 07/15/26 (Call 05/31/22)^(a)(b)		8,075		8,113,356
iHeartCommunications Inc., 6.38%, 05/01/26 (Call 05/16/22)^(b)		8,910		8,936,730
Radiate Holdco LLC/Radiate Finance Inc., 4.50%, 09/15/26 (Call 09/15/23)^(a)(b)		9,240		8,500,800
Sinclair Television Group Inc., 5.13%, 02/15/27 (Call 05/16/22)^(a)		4,103		3,584,996
Sirius XM Radio Inc., 3.13%, 09/01/26 (Call 09/01/23)^(a)(b)		10,616		9,737,677
TEGNA Inc., 4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		6,425		6,371,180
Townsquare Media Inc., 6.88%, 02/01/26 (Call 02/01/23)^(a)(b)		6,020		6,012,475
Univision Communications Inc.
5.13%, 02/15/25 (Call 05/10/22)^(a)(b)		16,131		15,899,923
9.50%, 05/01/25 (Call 05/10/22)^(a)		3,118		3,264,498
Videotron Ltd.
5.13%, 04/15/27 (Call 05/30/22)^(a)(b)		5,675		5,561,500
5.38%, 06/15/24 (Call 03/15/24)^(a)		5,884		5,961,799
Ziggo Bond Co. BV, 6.00%, 01/15/27 (Call 05/30/22)^(a)(b)		6,725		6,574,136


				250,916,029

Mining — 0.6%
Arconic Corp., 6.00%, 05/15/25 (Call 05/31/22)^(a)(b)		7,140		7,182,197
FMG Resources August 2006 Pty Ltd., 5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		6,769		6,848,041
Novelis Corp., 3.25%, 11/15/26 (Call 11/15/23)^(a)(b)		7,675		7,000,966
Perenti Finance Pty Ltd., 6.50%, 10/07/25 (Call 10/07/22)^(a)(b)		3,927		3,917,183
Taseko Mines Ltd., 7.00%, 02/15/26 (Call 02/15/23)^(a)(b)		3,725		3,687,750


				28,636,137

Office & Business Equipment — 0.5%
Pitney Bowes Inc., 6.88%, 03/15/27 (Call 03/15/24)^(a)(b)		3,600		3,327,300
Xerox Corp., 4.63%, 03/15/23 (Call 02/15/23)		11,791		11,785,252
Xerox Holdings Corp., 5.00%, 08/15/25 (Call 07/15/25)^(a)(b)		8,045		7,723,200


				22,835,752

Oil & Gas — 8.9%
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26 (Call 02/15/23)^(a)		8,029		8,279,656
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 7.00%, 11/01/26 (Call 05/31/22)^(a)		6,540		6,591,797
Athabasca Oil Corp., 9.75%, 11/01/26 (Call 11/01/24)^(a)		3,170		3,360,144


Security	Par (000)		Value

Oil & Gas (continued)
Baytex Energy Corp.
5.63%, 06/01/24 (Call 05/31/22)^(a)(b)	$	6	$	6,006
8.75%, 04/01/27 (Call 04/01/23)^(a)		4,900		5,176,135
Berry Petroleum Co. LLC, 7.00%, 02/15/26 (Call 05/31/22)^(a)(b)		4,363		4,255,795
California Resources Corp., 7.13%, 02/01/26 (Call 02/01/23)^(a)(b)		6,616		6,745,012
Callon Petroleum Co., 6.13%, 10/01/24 (Call 05/31/22)		4,912		4,850,600
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 05/31/22)^(a)(b)		5,620		5,672,828
Centennial Resource Production LLC, 6.88%, 04/01/27 (Call 05/31/22)^(a)		3,600		3,582,000
Chesapeake Energy Corp., 5.50%, 02/01/26 (Call 02/05/23)^(a)		5,640		5,588,253
Citgo Holding Inc., 9.25%, 08/01/24 (Call 05/31/22)^(a)(b)		13,587		13,502,081
CITGO Petroleum Corp.
6.38%, 06/15/26 (Call 06/15/23)^(a)(b)		6,730		6,679,525
7.00%, 06/15/25 (Call 06/15/22)^(a)		11,400		11,322,913
Civitas Resources Inc., 5.00%, 10/15/26 (Call 10/15/23)^(a)		4,358		4,141,685
CNX Resources Corp., 7.25%, 03/14/27 (Call 05/31/22)^(a)		7,545		7,712,725
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 05/31/22)^(a)(b)		12,996		12,996,000
CVR Energy Inc., 5.25%, 02/15/25 (Call 05/16/22)^(a)(b)		5,837		5,624,825
Earthstone Energy Holdings LLC, 8.00%, 04/15/27		5,590		5,565,516
Endeavor Energy Resources LP/EER Finance Inc., 6.63%, 07/15/25 (Call 07/15/22)^(a)(b)		6,738		6,923,295
Energean Israel Finance Ltd.
4.50%, 03/30/24 (Call 12/30/23)^(a)		5,950		5,783,400
4.88%, 03/30/26 (Call 12/30/25)^(a)		6,335		5,886,799
Ensign Drilling Inc., 9.25%, 04/15/24 (Call 05/30/22)^(a)(b)		3,719		3,653,918
Gulfport Energy Corp., 8.00%, 05/17/26 (Call 05/17/24)		3,700		3,815,625
Gulfport Energy Operating Corp., 8.00%, 05/17/26 (Call 05/17/24)^(a)(b)		2,962		3,054,563
Harbour Energy PLC, 5.50%, 10/15/26 (Call 10/15/23)^(a)(b)		5,200		5,018,000
Independence Energy Finance LLC, 7.25%, 05/01/26 (Call 05/01/23)^(a)		7,224		7,115,640
Ithaca Energy North Sea PLC, 9.00%, 07/15/26 (Call 07/15/23)^(a)		5,910		6,028,200
Laredo Petroleum Inc., 9.50%, 01/15/25 (Call 05/31/22)^(b)		6,253		6,424,957
Leviathan Bond Ltd.
5.75%, 06/30/23 (Call 03/30/23)^(a)		3,385		3,370,614
6.13%, 06/30/25 (Call 03/30/25)^(a)		6,446		6,392,068
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26 (Call 05/10/22)^(a)		4,303		4,311,299
Matador Resources Co., 5.88%, 09/15/26 (Call 05/16/22)^(b)		11,079		10,837,035
MEG Energy Corp., 7.13%, 02/01/27 (Call 02/01/23)^(a)(b)		12,420		12,612,510
Moss Creek Resources Holdings Inc., 7.50%, 01/15/26 (Call 05/31/22)^(a)(b)		7,300		6,694,100
Murphy Oil Corp., 5.75%, 08/15/25 (Call 05/31/22)		6,058		6,066,243
Nabors Industries Inc., 5.75%, 02/01/25 (Call 11/01/24)^(b)		7,261		6,940,427
Nabors Industries Ltd., 7.25%, 01/15/26 (Call 07/15/22)^(a)		5,350		5,216,250
Neptune Energy Bondco PLC, 6.63%, 05/15/25 (Call 05/30/22)^(a)(b)		7,890		7,822,540
Oasis Petroleum Inc., 6.38%, 06/01/26 (Call 06/01/23)^(a)		4,560		4,543,470
Occidental Petroleum Corp.
3.20%, 08/15/26 (Call 06/15/26)		8,100		7,631,120
3.40%, 04/15/26 (Call 01/15/26)		7,990		7,610,475
5.50%, 12/01/25 (Call 09/01/25)^(b)		9,300		9,458,100
5.55%, 03/15/26 (Call 12/15/25)		12,255		12,561,375


Security	Par (000)		Value

Oil & Gas (continued)
5.88%, 09/01/25 (Call 06/01/25)	$	11,175	$	11,490,917
6.95%, 07/01/24		5,840		6,124,944
8.00%, 07/15/25 (Call 04/15/25)		5,868		6,345,508
PBF Holding Co. LLC/PBF Finance Corp.
7.25%, 06/15/25 (Call 05/31/22)		6,675		6,428,359
9.25%, 05/15/25 (Call 05/31/22)^(a)		13,078		13,557,832
PDC Energy Inc., 5.75%, 05/15/26 (Call 05/31/22)^(b)		8,215		8,005,838
Penn Virginia Holdings LLC., 9.25%, 08/15/26 (Call 08/15/23)^(a)(b)		4,235		4,372,849
Petrofac Ltd., 9.75%, 11/15/26 (Call 11/15/23)^(a)(b)		5,630		5,264,050
Puma International Financing SA
5.00%, 01/24/26 (Call 05/10/22)^(a)		6,050		5,651,977
5.13%, 10/06/24 (Call 05/10/22)^(a)		6,250		5,976,484
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)^(b)		7,870		7,799,885
5.00%, 08/15/22 (Call 05/15/22)		3,787		3,792,998
5.00%, 03/15/23 (Call 12/15/22)		4,521		4,532,302
SM Energy Co.
6.63%, 01/15/27 (Call 05/31/22)^(b)		4,310		4,288,450
6.75%, 09/15/26 (Call 05/31/22)		4,430		4,407,673
10.00%, 01/15/25 (Call 06/17/22)^(a)		4,691		5,080,588
Southwestern Energy Co., 5.95%, 01/23/25 (Call 10/23/24)^(b)		1,934		1,960,593
Strathcona Resources Ltd., 6.88%, 08/01/26 (Call 08/01/23)^(a)(b)		5,270		5,098,725
Sunoco LP/Sunoco Finance Corp., 6.00%, 04/15/27 (Call 05/31/22)		2,425		2,437,125
Talos Production Inc., 12.00%, 01/15/26 (Call 01/15/23)		6,035		6,484,426
Tap Rock Resources LLC, 7.00%, 10/01/26 (Call 10/01/23)^(a)		5,270		5,300,302
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 05/30/22)^(a)		3,560		3,400,355
Transocean Inc.
7.25%, 11/01/25 (Call 05/10/22)^(a)		4,106		3,397,715
7.50%, 01/15/26 (Call 05/10/22)^(a)		5,885		4,788,919
8.00%, 02/01/27 (Call 02/01/23)^(a)(b)		6,400		5,019,520
11.50%, 01/30/27 (Call 07/30/23)^(a)(b)		6,970		6,935,150
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 05/30/22)^(a)		2,554		2,516,861
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 05/30/22)^(a)(b)		4,980		4,799,475
Vantage Drilling International, 9.25%, 11/15/23 (Call 05/31/22)^(a)		2,815		2,671,435
W&T Offshore Inc., 9.75%, 11/01/23 (Call 05/31/22)^(a)		5,278		5,231,817


				450,588,591

Oil & Gas Services — 1.0%
CGG SA, 8.75%, 04/01/27 (Call 04/01/24)^(a)(b)		4,750		4,702,500
CSI Compressco LP/CSI Compressco Finance Inc., 7.50%, 04/01/25 (Call 05/31/22)^(a)(b)		3,105		2,986,358
Exterran Energy Solutions LP/EES Finance Corp., 8.13%, 05/01/25 (Call 05/31/22)		3,285		3,295,911
KCA Deutag UK Finance PLC, 9.88%, 12/01/25 (Call 12/01/22)^(a)		4,385		4,497,503
Oceaneering International Inc., 4.65%, 11/15/24 (Call 08/15/24)^(b)		4,185		4,048,988
TechnipFMC PLC, 6.50%, 02/01/26 (Call 02/01/23)^(a)		6,760		7,004,577
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 05/30/22)^(a)		540		541,360
USA Compression Partners LP/USA Compression Finance Corp., 6.88%, 04/01/26 (Call 05/31/22)^(b)		7,645		7,485,729


Security	Par (000)		Value

Oil & Gas Services (continued)
Weatherford International Ltd., 11.00%, 12/01/24 (Call 05/31/22)^(a)(b)	$	14,342	$	14,829,628


				49,392,554

Packaging & Containers — 2.4%
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)(b)		12,446		11,524,567
5.25%, 04/30/25 (Call 05/30/22)^(a)(b)		7,664		7,582,762
Ball Corp.
4.00%, 11/15/23^(b)		9,756		9,731,610
4.88%, 03/15/26 (Call 12/15/25)^(b)		8,081		8,100,278
5.25%, 07/01/25^(b)		10,516		10,783,106
Crown Americas LLC / Crown Americas Capital Corp VI, 4.25%, 09/30/26 (Call 03/31/26)^(b)		4,080		3,956,963
Duke Energy Carolinas LLC, 4.75%, 02/01/26 (Call 05/31/22)^(b)		9,255		9,177,813
LABL Inc., 6.75%, 07/15/26 (Call 07/15/22)^(a)		7,396		7,100,160
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 05/31/22)^(a)(b)		15,179		14,818,499
7.25%, 04/15/25 (Call 05/31/22)^(a)(b)		14,043		13,305,742
Owens-Brockway Glass Container Inc., 5.88%, 08/15/23^(a)(b)		6,624		6,708,655
Sealed Air Corp.
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		3,833		3,903,671
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		4,470		4,581,750
Trivium Packaging Finance BV, 5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		10,900		10,532,125


				121,807,701

Pharmaceuticals — 4.1%
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)^(a)(b)		17,725		16,757,747
9.25%, 04/01/26 (Call 05/31/22)^(a)(b)		15,210		15,095,925
Bausch Health Companies Inc.
5.50%, 11/01/25 (Call 05/30/22)^(a)		18,835		18,222,862
6.13%, 04/15/25 (Call 05/16/22)^(a)		24,247		24,318,286
6.13%, 02/01/27 (Call 02/01/24)^(a)		10,335		9,934,519
9.00%, 12/15/25 (Call 05/30/22)^(a)(b)		14,660		14,696,650
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)^(a)		6,069		5,970,379
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (Call 11/15/22)^(a)		4,890		4,316,648
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 05/31/22)^(a)		9,425		8,593,244
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)		6,675		6,538,033
4.38%, 03/15/26 (Call 12/15/25)		7,931		7,649,427
PRA Health Sciences Inc., 2.88%, 07/15/26 (Call 07/15/23)^(a)		5,124		4,747,591
Teva Pharmaceutical Finance Netherlands III BV
2.80%, 07/21/23^(b)		21,053		20,443,516
3.15%, 10/01/26^(b)		35,720		30,647,760
6.00%, 04/15/24 (Call 01/15/24)^(b)		12,550		12,540,068
7.13%, 01/31/25 (Call 10/31/24)^(b)		9,933		10,086,081


				210,558,736

Pipelines — 4.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.75%, 03/01/27 (Call 05/16/22)^(a)(b)		6,150		5,996,235
7.88%, 05/15/26 (Call 05/15/23)^(a)		6,582		6,885,144


Security	Par (000)		Value

Pipelines (continued)
Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.63%, 12/15/25 (Call 12/15/22)^(a)	$	5,637	$	5,806,110
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)^(b)		6,243		5,876,614
4.13%, 03/01/25 (Call 02/01/25)^(a)		5,362		5,130,094
4.15%, 07/01/23 (Call 04/01/23)		3,734		3,702,394
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.75%, 04/01/25 (Call 05/31/22)^(b)		5,374		5,309,888
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)^(b)		4,210		4,201,054
5.38%, 07/15/25 (Call 04/15/25)^(b)		8,969		8,969,673
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)^(b)		7,245		7,017,386
4.40%, 04/01/24 (Call 01/01/24)		5,418		5,357,047
4.85%, 07/15/26 (Call 04/15/26)^(b)		5,460		5,324,670
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)^(b)		5,244		5,070,791
4.13%, 12/01/26 (Call 09/01/26)^(b)		5,165		4,774,674
4.75%, 07/15/23 (Call 06/15/23)		5,360		5,334,540
6.00%, 07/01/25 (Call 04/01/25)^(a)(b)		7,145		7,078,623
Genesis Energy LP/Genesis Energy Finance Corp.
6.25%, 05/15/26 (Call 05/31/22)^(b)		3,355		3,140,040
6.50%, 10/01/25 (Call 05/31/22)^(b)		5,660		5,364,736
8.00%, 01/15/27 (Call 01/15/24)^(b)		10,418		10,219,536
Hess Midstream Operations LP, 5.63%, 02/15/26 (Call 05/31/22)^(a)		9,015		9,015,483
Holly Energy Partners LP/Holly Energy Finance Corp., 6.38%, 04/15/27		1,955		1,998,988
Howard Midstream Energy Partners LLC, 6.75%, 01/15/27 (Call 01/15/24)^(a)		4,177		4,030,805
New Fortress Energy Inc.
6.50%, 09/30/26 (Call 03/31/23)^(a)		15,020		14,550,625
6.75%, 09/15/25 (Call 09/15/22)^(a)		13,065		12,780,836
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)^(a)		21,432		20,199,446
NGL Energy Partners LP/NGL Energy Finance Corp.
6.13%, 03/01/25 (Call 05/31/22)^(b)		3,550		2,961,824
7.50%, 11/01/23 (Call 05/31/22)		4,709		4,377,352
Northriver Midstream Finance LP, 5.63%, 02/15/26 (Call 10/15/22)^(a)		5,005		4,893,103
NuStar Logistics LP
5.75%, 10/01/25 (Call 07/01/25)^(b)		6,935		6,878,986
6.00%, 06/01/26 (Call 03/01/26)^(b)		4,723		4,695,790
PBF Logistics LP/PBF Logistics Finance Corp., 6.88%, 05/15/23 (Call 05/31/22)^(b)		4,331		4,305,979
Rattler Midstream LP, 5.63%, 07/15/25 (Call 07/15/22)^(a)(b)		5,392		5,397,796
Rockies Express Pipeline LLC, 3.60%, 05/15/25 (Call 04/15/25)^(a)		3,392		3,221,654
Southeast Supply Header LLC, 4.25%, 06/15/24 (Call 03/15/24)^(a)		4,305		4,270,582
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 8.50%, 10/15/26 (Call 10/15/23)^(a)		7,230		6,741,975
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
6.00%, 03/01/27 (Call 03/01/23)^(a)(b)		3,675		3,530,297
7.50%, 10/01/25 (Call 10/01/22)^(a)		7,399		7,514,490
Western Midstream Operating LP
3.60%, 02/01/25 (Call 01/01/25)		8,000		7,645,480
3.95%, 06/01/25 (Call 03/01/25)		4,487		4,354,907


Security	Par (000)		Value

Pipelines (continued)
4.65%, 07/01/26 (Call 04/01/26)^(b)	$	4,525	$	4,430,823


				248,356,470

Real Estate — 0.6%
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (Call 05/31/22)^(a)		6,597		6,531,030
Greystar Real Estate Partners LLC, 5.75%, 12/01/25 (Call 05/31/22)^(a)(b)		5,148		5,177,858
Newmark Group Inc., 6.13%, 11/15/23 (Call 10/15/23)^(b)		5,538		5,643,776
Realogy Group LLC/Realogy Co-Issuer Corp., 4.88%, 06/01/23 (Call 03/01/23)^(a)		3,755		3,736,454
WeWork Companies Inc., 7.88%, 05/01/25^(a)(b)		6,535		5,527,630
WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)^(a)(b)		5,885		4,727,617


				31,344,365

Real Estate Investment Trusts — 4.4%
Blackstone Mortgage Trust Inc., 3.75%, 01/15/27 (Call 10/15/26)^(a)(b)		4,050		3,709,800
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26 (Call 05/15/22)^(a)		9,345		9,064,650
Diversified Healthcare Trust, 9.75%, 06/15/25 (Call 06/15/22)		9,770		10,234,075
GEO Group Inc. (The), 6.00%, 04/15/26 (Call 05/31/22)^(b)		990		794,599
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/26 (Call 03/15/26)^(a)(b)		10,535		9,661,157
6.00%, 04/15/25 (Call 05/31/22)^(a)(b)		4,000		4,062,372
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)^(b)		6,221		5,941,055
4.75%, 10/01/24 (Call 07/01/24)^(b)		7,725		7,512,562
5.50%, 02/15/26 (Call 08/15/22)^(b)		4,075		3,961,131
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(a)(b)		6,875		6,302,244
5.25%, 10/01/25 (Call 05/16/22)^(a)		195		191,346
MPT Operating Partnership LP/MPT Finance Corp., 5.25%, 08/01/26 (Call 05/31/22)		5,480		5,480,000
New Residential Investment Corp., 6.25%, 10/15/25 (Call 10/15/22)^(a)		5,770		5,495,925
Park Intermediate Holdings LLC/PK Domestic
Property LLC/PK Finance Co-Issuer, 7.50%, 06/01/25 (Call 06/01/22)^(a)(b)		4,715		4,878,092
RLJ Lodging Trust LP, 3.75%, 07/01/26 (Call 07/01/23)^(a)(b)		5,500		5,132,875
SBA Communications Corp., 3.88%, 02/15/27 (Call 02/15/23)^(b)		15,631		14,836,945
Service Properties Trust
4.35%, 10/01/24 (Call 09/01/24)		8,877		8,214,776
4.50%, 06/15/23 (Call 12/15/22)^(b)		4,765		4,662,949
4.50%, 03/15/25 (Call 09/15/24)^(b)		3,899		3,484,731
4.65%, 03/15/24 (Call 09/15/23)^(b)		3,185		3,023,441
4.75%, 10/01/26 (Call 08/01/26)		4,640		4,003,160
4.95%, 02/15/27 (Call 08/15/26)^(b)		3,925		3,378,444
5.00%, 08/15/22 (Call 05/31/22)		4,480		4,463,719
5.25%, 02/15/26 (Call 08/15/25)		3,385		3,002,495
7.50%, 09/15/25 (Call 06/15/25)		8,521		8,515,717
Starwood Property Trust Inc.
3.63%, 07/15/26 (Call 01/15/26)^(a)(b)		3,896		3,560,619
3.75%, 12/31/24 (Call 09/30/24)^(a)(b)		4,210		4,047,768
4.38%, 01/15/27 (Call 07/15/26)^(a)		5,375		5,018,906


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
4.75%, 03/15/25 (Call 09/15/24)	$	5,287	$	5,204,596
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 7.88%, 02/15/25 (Call 05/31/22)^(a)		23,279		23,730,613
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 05/31/22)^(a)(b)		5,740		5,510,400
3.75%, 02/15/27 (Call 02/15/23)^(a)(b)		5,686		5,243,629
4.25%, 12/01/26 (Call 12/01/22)^(a)(b)		9,666		9,164,576
4.63%, 06/15/25^(a)		7,611		7,578,019
5.63%, 05/01/24^(a)		10,286		10,441,319
XHR LP, 6.38%, 08/15/25 (Call 08/15/22)^(a)(b)		5,170		5,220,059


				224,728,764

Retail — 3.6%
1011778 BC ULC/New Red Finance Inc., 5.75%, 04/15/25 (Call 05/30/22)^(a)(b)		5,371		5,483,012
99 Escrow Issuer Inc., 7.50%, 01/15/26 (Call 01/15/23)^(a)		3,505		2,305,098
Abercrombie & Fitch Management Co., 8.75%, 07/15/25 (Call 07/15/22)^(a)		3,095		3,240,355
Brinker International Inc., 5.00%, 10/01/24 (Call 07/01/24)^(a)		3,504		3,480,348
Carvana Co.
5.50%, 04/15/27 (Call 04/15/24)^(a)		5,675		4,582,258
5.63%, 10/01/25 (Call 10/01/22)^(a)(b)		5,094		4,419,045
CEC Entertainment LLC, 6.75%, 05/01/26 (Call 05/01/23)^(a)(b)		6,641		6,272,424
Dave & Buster’s Inc., 7.63%, 11/01/25 (Call 11/01/22)^(a)(b)		4,322		4,478,853
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/10/22)^(a)(b)		7,200		6,998,472
8.50%, 10/30/25 (Call 05/30/22)^(a)(b)		6,335		6,332,614
Ferrellgas LP/Ferrellgas Finance Corp., 5.38%, 04/01/26 (Call 04/01/23)^(a)(b)		6,651		6,047,792
Guitar Center Inc., 8.50%, 01/15/26 (Call 01/15/23)^(a)		5,623		5,581,530
IRB Holding Corp., 7.00%, 06/15/25 (Call 06/15/22)^(a)		8,420		8,641,678
LSF9 Atlantis Holdings LLC/Victra Finance Corp., 7.75%, 02/15/26 (Call 02/15/23)^(a)(b)		8,385		7,563,605
NMG Holding Co. Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (Call 04/01/23)^(a)(b)		11,286		11,257,785
Nordstrom Inc., 4.00%, 03/15/27 (Call 12/15/26)^(b)		3,100		2,873,811
Party City Holdings Inc., 8.75%, 02/15/26 (Call 08/15/23)^(a)(b)		7,660		7,037,625
Penske Automotive Group Inc., 3.50%, 09/01/25 (Call 09/01/22)^(b)		6,114		5,916,714
QVC Inc.
4.38%, 03/15/23^(b)		6,159		6,159,000
4.45%, 02/15/25 (Call 11/15/24)^(b)		6,432		6,247,080
4.75%, 02/15/27 (Call 11/15/26)^(b)		5,750		5,146,193
4.85%, 04/01/24^(b)		6,287		6,251,164
Rite Aid Corp.
7.50%, 07/01/25 (Call 07/01/22)^(a)(b)		6,130		5,256,475
8.00%, 11/15/26 (Call 01/15/23)^(a)		8,565		7,155,629
Sally Holdings LLC/Sally Capital Inc., 5.63%, 12/01/25 (Call 05/31/22)^(b)		6,434		6,438,557
Sizzling Platter LLC/Sizzling Platter Finance Corp., 8.50%, 11/28/25 (Call 11/28/22)^(a)		3,350		3,047,543
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 (Call 09/30/22)^(a)		7,726		7,585,000
Staples Inc.
7.50%, 04/15/26 (Call 05/31/22)^(a)(b)		21,221		20,189,659
10.75%, 04/15/27 (Call 05/31/22)^(a)		3,531		3,125,818


Security	Par (000)		Value

Retail (continued)
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.88%, 03/01/27 (Call 05/31/22)	$	3,200	$	3,193,600


				182,308,737

Semiconductors — 0.1%
ams-OSRAM AG, 7.00%, 07/31/25 (Call 07/31/22)^(a)(b)		4,465		4,496,664


Software — 1.3%
ACI Worldwide Inc., 5.75%, 08/15/26 (Call 05/31/22)^(a)(b)		3,950		3,986,291
Boxer Parent Co. Inc.
7.13%, 10/02/25 (Call 06/01/22)^(a)		6,430		6,549,223
9.13%, 03/01/26 (Call 05/10/22)^(a)		3,322		3,363,525
Camelot Finance SA, 4.50%, 11/01/26 (Call 11/01/22)^(a)		6,890		6,494,686
CDK Global Inc., 5.00%, 10/15/24 (Call 07/15/24)^(b)		4,984		5,125,969
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 05/10/22)^(a)(b)		12,794		12,758,976
Fair Isaac Corp., 5.25%, 05/15/26 (Call 02/15/26)^(a)(b)		4,363		4,384,815
PTC Inc., 3.63%, 02/15/25 (Call 05/31/22)^(a)(b)		6,257		6,078,871
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 05/31/22)^(a)		17,780		15,668,625


				64,410,981

Telecommunications — 7.7%
Altice France SA/France, 8.13%, 02/01/27 (Call 05/10/22)^(a)(b)		17,955		18,016,720
CommScope Inc.
6.00%, 03/01/26 (Call 05/31/22)^(a)		16,815		15,848,539
8.25%, 03/01/27 (Call 05/31/22)^(a)		9,740		8,279,000
CommScope Technologies LLC
5.00%, 03/15/27 (Call 05/10/22)^(a)(b)		6,665		5,232,025
6.00%, 06/15/25 (Call 05/10/22)^(a)(b)		14,126		12,360,250
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(a)		21,145		20,620,340
DKT Finance ApS, 9.38%, 06/17/23 (Call 05/10/22)^(a)(b)		3,468		3,425,517
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(b)		7,746		7,591,080
6.63%, 08/01/26^(b)		7,700		7,693,624
Iliad Holding SAS, 6.50%, 10/15/26 (Call 10/15/23)^(a)		12,161		11,652,827
Intrado Corp., 8.50%, 10/15/25 (Call 05/31/22)^(a)(b)		6,810		6,091,119
Level 3 Financing Inc.
5.25%, 03/15/26 (Call 05/31/22)^(b)		7,930		7,692,100
5.38%, 05/01/25 (Call 05/31/22)^(b)		9,001		8,901,342
Lumen Technologies Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)		13,030		11,564,125
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		12,680		11,452,069
5.63%, 04/01/25 (Call 01/01/25)^(b)		5,174		5,030,745
Series W, 6.75%, 12/01/23^(b)		6,923		7,038,312
Series Y, 7.50%, 04/01/24 (Call 01/01/24)		10,009		10,279,243
Quebecor Media Inc., 5.75%, 01/15/23^(b)		8,580		8,655,075
Sprint Communications Inc., 6.00%, 11/15/22^(b)		22,925		23,248,242
Sprint Corp.
7.13%, 06/15/24^(b)		25,256		26,547,844
7.63%, 02/15/25 (Call 11/15/24)^(b)		15,415		16,397,706
7.63%, 03/01/26 (Call 11/01/25)		15,421		16,742,271
7.88%, 09/15/23		44,407		46,627,350
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		15,784		15,486,156
Telesat Canada/Telesat LLC, 5.63%, 12/06/26 (Call 12/06/23)^(a)		4,845		3,453,322
T-Mobile USA Inc.
2.25%, 02/15/26 (Call 02/15/23)^(b)		10,741		9,880,629
2.25%, 02/15/26 (Call 02/15/23)^(a)		7,917		7,282,836
2.63%, 04/15/26 (Call 04/15/23)^(b)		12,795		11,892,496


Security	Par/ Shares (000)		Value

Telecommunications (continued)
5.38%, 04/15/27 (Call 05/10/22)^(b)	$	5,000	$	5,104,950
Trilogy International South Pacific LLC/TISP Finance Inc., 8.88%, 05/15/23 (Call 05/31/22)^(a)(b)		2,956		2,934,143
ViaSat Inc.
5.63%, 09/15/25 (Call 05/10/22)^(a)(b)		7,190		6,594,429
5.63%, 04/15/27 (Call 05/10/22)^(a)		483		448,493
Zayo Group Holdings Inc., 4.00%, 03/01/27 (Call 05/31/22)^(a)(b)		15,185		13,210,950


				393,275,869

Toys, Games & Hobbies — 0.1%
Mattel Inc., 3.38%, 04/01/26 (Call 04/01/23)^(a)		6,906		6,717,367


Transportation — 0.2%
Altera Infrastructure LP/Teekay Offshore Finance Corp., 8.50%, 07/15/23 (Call 05/16/22)^(a)		5,879		3,186,418
Western Global Airlines LLC, 10.38%, 08/15/25 (Call 05/15/25)^(a)(b)		2,363		2,429,164
XPO Logistics Inc., 6.25%, 05/01/25 (Call 05/31/22)^(a)(b)		6,659		6,817,151


				12,432,733

Trucking & Leasing — 0.2%
Fly Leasing Ltd., 7.00%, 10/15/24 (Call 05/31/22)^(a)(b)		3,921		3,465,837
Fortress Transportation and Infrastructure Investors LLC, 6.50%, 10/01/25 (Call 05/31/22)^(a)		8,800		8,382,000


				11,847,837

Water — 0.1%
Solaris Midstream Holdings LLC, 7.63%, 04/01/26 (Call 04/01/23)^(a)(b)		4,275		4,393,364


Total Corporate Bonds & Notes — 98.1% (Cost: $5,209,695,400)				4,977,711,623


Common Stocks

Health Care Technology — 0.0%
Quincy Health LLC^(e)		26		123,041


Total Common Stocks — 0.0% (Cost $2,673,769)				123,041


Warrants

Advertising — 0.0%
Affinion Group Inc. (Expires 12/12/23)		9		0


Total Warrants — 0.0% (Cost $0)				—


Short-Term Investments

Money Market Funds — 19.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.38%^(f)(g)(h)		944,706		944,705,532


Security	Shares (000)		Value


Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.34%^(f)(g)		37,989	$	37,989,000


				982,694,532


Total Short-Term Investments — 19.3% (Cost: $982,635,305)				982,694,532


Total Investments in Securities — 117.4% (Cost: $6,195,004,474)				5,960,529,196

Other Assets, Less Liabilities — (17.4)%				(884,973,259	)


Net Assets — 100.0%			$	5,075,555,937

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended April 30, 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 — 0.8%
Advantage Sales & Marketing Inc., 6.50%, 11/15/28 (Call 11/15/23)^(a)(b)	$	3,897	$	3,541,399
Clear Channel International BV, 6.63%, 08/01/25 (Call 05/10/22)^(a)		1,125		1,136,880
Clear Channel Outdoor Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)^(a)(b)		5,685		5,342,194
7.50%, 06/01/29 (Call 06/01/24)^(a)(b)		5,378		5,075,219
7.75%, 04/15/28 (Call 04/15/24)^(a)(b)		5,099		4,805,807
Lamar Media Corp.
3.63%, 01/15/31 (Call 01/15/26)^(b)		2,855		2,483,850
3.75%, 02/15/28 (Call 02/15/23)^(b)		2,567		2,348,805
4.00%, 02/15/30 (Call 02/15/25)		2,836		2,541,198
4.88%, 01/15/29 (Call 01/15/24)		1,598		1,524,092
National CineMedia LLC, 5.88%, 04/15/28 (Call 04/15/23)^(a)(b)		1,776		1,527,040
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.25%, 01/15/29 (Call 01/15/24)^(a)(b)		2,854		2,482,980
4.63%, 03/15/30 (Call 03/15/25)^(a)(b)		2,142		1,916,662
5.00%, 08/15/27 (Call 08/15/22)^(a)(b)		3,372		3,207,615
6.25%, 06/15/25 (Call 06/15/22)^(a)(b)		1,195		1,209,938
Stagwell Global LLC, 5.63%, 08/15/29 (Call 08/15/24)^(a)(b)		5,500		4,854,795
Summer BC Bidco B LLC, 5.50%, 10/31/26 (Call 07/15/23)^(a)		2,130		2,045,226
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)^(a)(b)		5,100		4,984,689


				51,028,389

Aerospace & Defense — 2.1%
Bombardier Inc.
6.00%, 02/15/28 (Call 02/15/24)^(a)		4,320		3,736,800
7.13%, 06/15/26 (Call 06/15/23)^(a)		6,140		5,648,800
7.45%, 05/01/34^(a)		1,258		1,195,100
7.50%, 12/01/24 (Call 05/30/22)^(a)		3,638		3,619,810
7.50%, 03/15/25 (Call 05/30/22)^(a)(b)		6,993		6,783,210
7.88%, 04/15/27 (Call 05/30/22)^(a)(b)		10,057		9,368,799
Hexcel Corp.
4.20%, 02/15/27 (Call 11/15/26)^(b)		1,306		1,280,353
4.95%, 08/15/25 (Call 05/15/25)		1,146		1,159,687
Howmet Aerospace Inc.
3.00%, 01/15/29 (Call 11/15/28)^(b)		2,900		2,530,685
5.13%, 10/01/24 (Call 07/01/24)^(b)		5,112		5,201,460
5.90%, 02/01/27		2,901		2,977,180
5.95%, 02/01/37		2,929		2,959,930
6.75%, 01/15/28		1,789		1,896,340
6.88%, 05/01/25 (Call 04/01/25)^(b)		3,624		3,832,308
Maxar Space Robotics LLC, 9.75%, 12/31/23 (Call 05/10/22)^(a)		1,932		2,059,995
Moog Inc., 4.25%, 12/15/27 (Call 12/15/22)^(a)(b)		1,777		1,654,831
Rolls-Royce PLC
3.63%, 10/14/25 (Call 07/14/25)^(a)		5,246		4,931,240
5.75%, 10/15/27 (Call 07/15/27)^(a)		4,725		4,554,097
Spirit AeroSystems Inc.
3.85%, 06/15/26 (Call 03/15/26)^(b)		725		670,625
3.95%, 06/15/23 (Call 05/15/23)		1,241		1,209,975
4.60%, 06/15/28 (Call 03/15/28)^(b)		3,300		2,850,639
5.50%, 01/15/25 (Call 10/15/22)^(a)(b)		2,466		2,441,340
7.50%, 04/15/25 (Call 05/31/22)^(a)		6,161		6,238,012


Security	Par (000)		Value

Aerospace & Defense (continued)
TransDigm Inc.
4.63%, 01/15/29 (Call 01/15/24)	$	6,489	$	5,646,598
4.88%, 05/01/29 (Call 05/01/24)^(b)		3,510		3,075,638
5.50%, 11/15/27 (Call 11/15/22)^(b)		12,420		11,389,016
6.25%, 03/15/26 (Call 05/31/22)^(a)		21,736		21,627,320
6.38%, 06/15/26 (Call 05/31/22)^(b)		3,938		3,888,578
7.50%, 03/15/27 (Call 05/31/22)		2,347		2,364,603
8.00%, 12/15/25 (Call 05/31/22)^(a)		5,350		5,568,387
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/31/22)^(b)		2,047		2,036,765
Triumph Group Inc.
6.25%, 09/15/24 (Call 05/31/22)^(a)		2,480		2,387,000
7.75%, 08/15/25 (Call 05/31/22)^(b)		2,204		2,143,390
8.88%, 06/01/24 (Call 02/01/23)^(a)		2,470		2,556,005


				141,484,516

Agriculture — 0.1%
Darling Ingredients Inc., 5.25%, 04/15/27 (Call 05/10/22)^(a)(b)		2,128		2,128,000
Turning Point Brands Inc., 5.63%, 02/15/26 (Call 02/15/23)^(a)(b)		1,306		1,242,790
Vector Group Ltd.
5.75%, 02/01/29 (Call 02/01/24)^(a)		4,424		3,882,060
10.50%, 11/01/26 (Call 05/31/22)^(a)		2,683		2,738,484


				9,991,334

Airlines — 1.4%
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)^(a)(b)		5,880		5,437,089
American Airlines Group Inc., 3.75%, 03/01/25^(a)(b)		2,129		1,900,132
American Airlines Inc., 11.75%, 07/15/25^(a)		11,878		13,659,700
American Airlines Inc./AAdvantage Loyalty IP Ltd.
5.50%, 04/20/26^(a)		16,995		16,846,294
5.75%, 04/20/29^(a)(b)		14,650		14,116,374
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)		4,478		4,270,579
3.75%, 10/28/29 (Call 07/28/29)^(b)		2,048		1,807,360
3.80%, 04/19/23 (Call 03/19/23)^(b)		1,518		1,516,027
4.38%, 04/19/28 (Call 01/19/28)^(b)		2,352		2,200,860
7.38%, 01/15/26 (Call 12/15/25)^(b)		4,917		5,236,605
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)^(a)		5,895		5,748,480
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (Call 09/20/23)^(a)(b)		2,600		2,745,625
United Airlines Holdings Inc.
4.88%, 01/15/25^(b)		1,729		1,668,485
5.00%, 02/01/24^(b)		1,426		1,415,305
United Airlines Inc.
4.38%, 04/15/26 (Call 10/15/25)^(a)(b)		9,650		9,317,075
4.63%, 04/15/29 (Call 10/15/28)^(a)		9,450		8,670,375


				96,556,365

Apparel — 0.4%
Crocs Inc.
4.13%, 08/15/31 (Call 08/15/26)^(a)		1,640		1,308,818
4.25%, 03/15/29 (Call 03/15/24)^(a)		2,000		1,700,000
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)(b)		4,168		4,162,790
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		4,707		4,601,093
Kontoor Brands Inc., 4.13%, 11/15/29 (Call 11/15/24)^(a)(b)		2,055		1,782,713


Security	Par (000)		Value

Apparel (continued)
Levi Strauss & Co., 3.50%, 03/01/31 (Call 03/01/26)^(a)(b)	$	2,140	$	1,851,100
Michael Kors USA Inc., 4.50%, 11/01/24 (Call 09/01/24)^(a)		1,809		1,769,582
Under Armour Inc., 3.25%, 06/15/26 (Call 03/15/26)^(b)		2,783		2,561,013
William Carter Co. (The), 5.63%, 03/15/27 (Call 05/31/22)^(a)(b)		2,245		2,237,030
Wolverine World Wide Inc., 4.00%, 08/15/29 (Call 08/15/24)^(a)(b)		2,600		2,209,584


				24,183,723

Auto Manufacturers — 2.5%
Allison Transmission Inc.
3.75%, 01/30/31 (Call 01/30/26)^(a)(b)		4,565		3,948,725
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)		1,498		1,443,465
5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		2,642		2,608,262
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 (Call 11/01/24)^(a)		6,540		6,589,050
Ford Holdings LLC, 9.30%, 03/01/30		899		1,069,810
Ford Motor Co.
3.25%, 02/12/32 (Call 11/12/31)		9,250		7,517,475
4.35%, 12/08/26 (Call 09/08/26)^(b)		5,628		5,402,880
4.75%, 01/15/43		7,373		5,935,265
5.29%, 12/08/46 (Call 06/08/46)^(b)		4,718		4,057,480
6.38%, 02/01/29^(b)		347		349,186
6.63%, 10/01/28		1,907		1,976,129
7.40%, 11/01/46		1,480		1,592,791
7.45%, 07/16/31		3,880		4,219,500
9.63%, 04/22/30 (Call 01/22/30)^(b)		1,625		1,986,563
Ford Motor Credit Co. LLC
2.30%, 02/10/25 (Call 01/10/25)		4,555		4,230,228
2.70%, 08/10/26 (Call 07/10/26)		5,610		5,001,203
2.90%, 02/16/28 (Call 12/16/27)		2,962		2,539,915
2.90%, 02/10/29 (Call 12/10/28)		2,700		2,247,750
3.10%, 05/04/23		3,041		3,005,740
3.37%, 11/17/23		3,130		3,075,225
3.38%, 11/13/25 (Call 10/13/25)^(b)		8,710		8,363,168
3.63%, 06/17/31 (Call 03/17/31)		3,950		3,283,438
3.66%, 09/08/24		2,195		2,123,663
3.81%, 01/09/24 (Call 11/09/23)		2,260		2,220,450
3.82%, 11/02/27 (Call 08/02/27)		2,666		2,426,060
4.00%, 11/13/30 (Call 08/13/30)^(b)		5,945		5,142,425
4.06%, 11/01/24 (Call 10/01/24)		5,880		5,751,595
4.13%, 08/04/25^(b)		5,451		5,232,960
4.13%, 08/17/27 (Call 06/17/27)^(b)		4,240		3,930,692
4.27%, 01/09/27 (Call 11/09/26)		3,197		3,013,173
4.38%, 08/06/23		3,078		3,079,847
4.39%, 01/08/26		4,364		4,211,260
4.54%, 08/01/26 (Call 06/01/26)		2,725		2,605,781
4.69%, 06/09/25 (Call 04/09/25)		2,307		2,261,944
4.95%, 05/28/27 (Call 04/28/27)		5,275		5,137,375
5.11%, 05/03/29 (Call 02/03/29)^(b)		5,985		5,670,787
5.13%, 06/16/25 (Call 05/16/25)		6,595		6,578,512
5.58%, 03/18/24 (Call 02/18/24)^(b)		5,030		5,086,537
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)		2,851		2,334,256
5.50%, 07/15/29 (Call 07/15/24)^(a)		2,575		2,143,327
5.88%, 01/15/28 (Call 01/15/24)^(a)		2,920		2,562,300
7.75%, 10/15/25 (Call 10/15/22)^(a)		3,290		3,296,202
JB Poindexter & Co. Inc., 7.13%, 04/15/26
(Call 05/31/22)^(a)(b)		1,840		1,843,257


Security	Par (000)		Value

Auto Manufacturers (continued)
Mclaren Finance PLC, 7.50%, 08/01/26 (Call 08/01/23)^(a)	$	2,675	$	2,566,245
PM General Purchaser LLC, 9.50%, 10/01/28 (Call 10/01/23)^(a)(b)		2,737		2,641,205
Wabash National Corp., 4.50%, 10/15/28 (Call 10/15/24)^(a)(b)		2,200		1,841,400


				164,144,501

Auto Parts & Equipment — 1.3%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 05/30/22)^(a)(b)		3,817		3,403,733
American Axle & Manufacturing Inc.
5.00%, 10/01/29 (Call 10/01/24)^(b)		2,525		2,174,656
6.25%, 03/15/26 (Call 05/10/22)^(b)		1,427		1,357,434
6.50%, 04/01/27 (Call 05/31/22)^(b)		2,615		2,436,853
6.88%, 07/01/28 (Call 07/01/23)^(b)		1,847		1,740,798
Clarios Global LP, 6.75%, 05/15/25 (Call 05/30/22)^(a)(b)		1,504		1,534,080
Clarios Global LP/Clarios US Finance Co.
6.25%, 05/15/26 (Call 05/31/22)^(a)(b)		4,034		4,074,340
8.50%, 05/15/27 (Call 05/31/22)^(a)(b)		9,421		9,415,159
Cooper-Standard Automotive Inc.
5.63%, 11/15/26 (Call 05/16/22)^(a)(b)		2,154		1,013,754
13.00%, 06/01/24 (Call 06/01/22)^(a)(b)		948		957,489
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 05/30/22)^(a)		1,847		1,823,506
Dana Inc.
4.25%, 09/01/30 (Call 05/01/26)^(b)		2,250		1,928,700
4.50%, 02/15/32 (Call 02/15/27)^(b)		1,570		1,295,250
5.38%, 11/15/27 (Call 11/15/22)^(b)		1,799		1,700,055
5.63%, 06/15/28 (Call 06/15/23)^(b)		1,613		1,538,399
Dealer Tire LLC/DT Issuer LLC, 8.00%, 02/01/28 (Call 08/01/23)^(a)(b)		2,266		2,216,692
Dornoch Debt Merger Sub Inc., 6.63%, 10/15/29 (Call 10/15/24)^(a)(b)		3,390		2,779,800
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(b)		3,579		3,337,632
5.00%, 05/31/26 (Call 05/31/22)^(b)		4,050		3,903,714
5.00%, 07/15/29^(b)		3,760		3,352,792
5.25%, 04/30/31 (Call 01/30/31)^(b)		2,823		2,454,203
5.25%, 07/15/31^(b)		2,665		2,298,563
5.63%, 04/30/33 (Call 01/30/33)		2,400		2,067,168
9.50%, 05/31/25 (Call 05/31/22)		3,847		4,034,003
IHO Verwaltungs GmbH
4.75%, 09/15/26 (Call 05/10/22), (5.50% PIK)^(a)(b)(c)		2,711		2,548,340
6.00%, 05/15/27 (Call 05/15/22), (6.75% PIK)^(a)(b)(c)		2,421		2,243,880
6.38%, 05/15/29 (Call 05/15/24), (7.13% PIK)^(a)(b)(c)		1,992		1,892,400
Meritor Inc.
4.50%, 12/15/28 (Call 12/15/23)^(a)		1,685		1,682,894
6.25%, 06/01/25 (Call 06/01/22)^(a)(b)		978		1,012,719
Real Hero Merger Sub 2 Inc., 6.25%, 02/01/29 (Call 02/01/24)^(a)(b)		2,740		2,222,277
Tenneco Inc.
5.00%, 07/15/26 (Call 05/31/22)^(b)		2,401		2,301,959
5.13%, 04/15/29 (Call 04/15/24)^(a)		3,345		3,260,940
7.88%, 01/15/29 (Call 01/15/24)^(a)(b)		2,353		2,377,212
Titan International Inc., 7.00%, 04/30/28 (Call 04/30/24)^(b)		1,839		1,802,220
Wheel Pros Inc., 6.50%, 05/15/29 (Call 05/15/24)^(a)(b)		1,721		1,307,960
ZF North America Capital Inc., 4.75%, 04/29/25^(a)(b)		5,144		5,028,106


				90,519,680


Security	Par (000)		Value

Banks — 1.5%
Commerzbank AG, 8.13%, 09/19/23^(a)	$	4,195	$	4,366,148
Deutsche Bank AG
4.30%, 05/24/28 (Call 05/24/23),
(5 year USD Swap + 2.248%)^(d)		6,567		6,441,934
4.50%, 04/01/25^(b)		7,555		7,421,149
Deutsche Bank AG/New York NY
3.73%, 01/14/32 (Call 10/14/30)^(d)		5,896		4,868,248
3.74%, 01/07/33 (Call 10/07/31)^(d)		6,150		5,023,966
4.88%, 12/01/32 (Call 12/01/27)^(b)(d)		5,151		4,721,307
5.88%, 07/08/31 (Call 04/08/30)^(b)(d)		2,465		2,393,537
Dresdner Funding Trust I, 8.15%, 06/30/31 (Call 06/30/29)^(a)		4,736		5,730,560
Freedom Mortgage Corp.
6.63%, 01/15/27 (Call 01/15/24)^(a)(b)		3,174		2,747,097
7.63%, 05/01/26 (Call 05/01/23)^(a)(b)		3,270		2,975,700
8.13%, 11/15/24 (Call 05/31/22)^(a)		1,737		1,682,580
8.25%, 04/15/25 (Call 05/31/22)^(a)(b)		2,482		2,382,720
Intesa Sanpaolo SpA
4.20%, 06/01/32 (Call 06/01/31)^(a)(b)(d)		3,485		2,886,631
4.95%, 06/01/42 (Call 06/01/41)^(a)(d)		3,385		2,647,792
5.02%, 06/26/24^(a)(b)		10,312		10,065,397
5.71%, 01/15/26^(a)(b)		7,122		7,087,195
Lloyds Banking Group PLC, 3.37%, 12/14/46 (Call 09/14/41)^(d)		277		206,960
Popular Inc., 6.13%, 09/14/23 (Call 08/14/23)		1,227		1,256,411
Standard Chartered PLC, 7.01%, (Call 07/30/37)^(a)(b)(d)(e)		3,430		3,985,921
Synovus Financial Corp., 5.90%, 02/07/29 (Call 02/07/24)^(d)		1,133		1,150,081
UniCredit SpA
5.46%, 06/30/35 (Call 06/30/30)^(a)(b)(d)		6,885		6,212,256
5.86%, 06/19/32 (Call 06/19/27)^(a)(b)(d)		5,075		4,834,061
7.30%, 04/02/34 (Call 04/02/29)^(a)(b)(d)		6,075		6,136,952


				97,224,603

Beverages — 0.1%
Primo Water Holdings Inc., 4.38%, 04/30/29 (Call 04/30/24)^(a)		4,015		3,494,716
Triton Water Holdings Inc., 6.25%, 04/01/29 (Call 04/01/24)^(a)(b)		3,923		3,247,224


				6,741,940

Biotechnology — 0.1%
Emergent BioSolutions Inc., 3.88%, 08/15/28 (Call 08/15/23)^(a)(b)		1,824		1,548,120
Grifols Escrow Issuer SA, 4.75%, 10/15/28 (Call 10/15/24)^(a)(b)		3,490		3,184,276


				4,732,396

Building Materials — 1.1%
Boise Cascade Co., 4.88%, 07/01/30 (Call 07/01/25)^(a)(b)		1,516		1,425,721
Builders FirstSource Inc.
4.25%, 02/01/32 (Call 08/01/26)^(a)(b)		6,055		5,169,456
5.00%, 03/01/30 (Call 03/01/25)^(a)(b)		3,323		3,073,775
6.75%, 06/01/27 (Call 06/01/22)^(a)		2,365		2,438,906
Cornerstone Building Brands Inc., 6.13%, 01/15/29 (Call 09/15/23)^(a)		2,681		2,230,726
CP Atlas Buyer Inc., 7.00%, 12/01/28 (Call 12/01/23)^(a)		2,521		2,105,035
Eco Material Technologies Inc., 7.88%, 01/31/27 (Call 01/31/24)^(a)		2,640		2,555,850
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)		5,042		4,499,985


Security	Par (000)		Value

Building Materials (continued)
James Hardie International Finance DAC, 5.00%, 01/15/28 (Call 01/15/23)^(a)	$	1,116	$	1,076,482
Jeld-Wen Inc.
4.63%, 12/15/25 (Call 05/31/22)^(a)		2,402		2,263,885
4.88%, 12/15/27 (Call 12/15/22)^(a)(b)		1,814		1,644,971
6.25%, 05/15/25 (Call 05/31/22)^(a)(b)		410		418,713
Koppers Inc., 6.00%, 02/15/25 (Call 05/31/22)^(a)(b)		2,547		2,464,223
Louisiana-Pacific Corp., 3.63%, 03/15/29 (Call 03/15/24)^(a)		1,325		1,139,500
Masonite International Corp.
3.50%, 02/15/30 (Call 08/15/29)^(a)(b)		1,675		1,411,188
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		2,458		2,353,289
MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, 02/01/30 (Call 02/01/25)^(a)		2,585		2,236,025
New Enterprise Stone & Lime Co. Inc.
5.25%, 07/15/28 (Call 07/15/24)^(a)(b)		2,550		2,330,802
9.75%, 07/15/28 (Call 07/15/23)^(a)(b)		1,586		1,558,245
PGT Innovations Inc., 4.38%, 10/01/29 (Call 10/01/24)^(a)(b)		2,835		2,487,514
SRM Escrow Issuer LLC, 6.00%, 11/01/28 (Call 11/01/23)^(a)(b)		4,945		4,747,200
Standard Industries Inc./NJ
3.38%, 01/15/31 (Call 07/15/25)^(a)		5,888		4,702,510
4.38%, 07/15/30 (Call 07/15/25)^(a)		7,525		6,274,759
4.75%, 01/15/28 (Call 01/15/23)^(a)		5,040		4,636,800
5.00%, 02/15/27 (Call 05/31/22)^(a)		3,454		3,272,665
Summit Materials LLC/Summit Materials Finance Corp.
5.25%, 01/15/29 (Call 07/15/23)^(a)		2,831		2,654,063
6.50%, 03/15/27 (Call 05/10/22)^(a)		1,755		1,748,331
Victors Merger Corp., 6.38%, 05/15/29 (Call 05/15/24)^(a)		2,780		1,668,000


				74,588,619

Chemicals — 2.2%
Cerdia Finanz GmbH, 10.50%, 02/15/27 (Call 02/15/24)^(a)(b)		2,895		2,562,075
Ashland LLC
3.38%, 09/01/31 (Call 06/01/31)^(a)(b)		2,185		1,890,025
6.88%, 05/15/43 (Call 02/15/43)^(b)		1,189		1,319,790
ASP Unifrax Holdings Inc
5.25%, 09/30/28 (Call 09/30/24)^(a)(b)		3,820		3,367,101
7.50%, 09/30/29 (Call 09/30/24)^(a)(b)		2,142		1,756,440
Axalta Coating Systems LLC, 3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		3,502		3,030,035
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)^(a)(b)		2,180		2,071,000
Chemours Co. (The)
4.63%, 11/15/29 (Call 11/15/24)^(a)		3,020		2,616,075
5.38%, 05/15/27 (Call 02/15/27)^(b)		2,267		2,187,655
5.75%, 11/15/28 (Call 11/15/23)^(a)(b)		3,906		3,661,875
Cornerstone Chemical Co., 6.75%, 08/15/24 (Call 05/31/22)^(a)(b)		1,912		1,692,120
CVR Partners LP/CVR Nitrogen Finance Corp., 6.13%, 06/15/28 (Call 06/15/24)^(a)(b)		2,320		2,273,600
Diamond BC BV, 4.63%, 10/01/29 (Call 10/01/24)^(a)(b)		2,570		2,210,791
Element Solutions Inc., 3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		3,906		3,490,987
EverArc Escrow Sarl, 5.00%, 10/30/29 (Call 10/30/24)^(a)(b)		3,210		2,814,592


Security	Par (000)		Value

Chemicals (continued)
GCP Applied Technologies Inc., 5.50%, 04/15/26 (Call 05/16/22)^(a)	$	861	$	868,534
GPD Companies Inc., 10.13%, 04/01/26 (Call 05/31/22)^(a)(b)		1,884		1,964,070
HB Fuller Co.
4.00%, 02/15/27 (Call 11/15/26)^(b)		1,341		1,260,540
4.25%, 10/15/28 (Call 10/15/23)^(b)		1,307		1,169,883
Herens Holdco Sarl, 4.75%, 05/15/28 (Call 05/15/24)^(a)(b)		1,895		1,662,863
Illuminate Buyer LLC/Illuminate Holdings IV Inc., 9.00%, 07/01/28 (Call 07/01/23)^(a)(b)		2,446		2,323,700
INEOS Quattro Finance 2 PLC., 3.38%, 01/15/26 (Call 01/15/23)^(a)(b)		2,580		2,355,540
Ingevity Corp., 3.88%, 11/01/28 (Call 11/01/23)^(a)(b)		2,541		2,274,195
Innophos Holdings Inc., 9.38%, 02/15/28 (Call 02/15/23)^(a)(b)		1,251		1,313,550
LSF11 A5 HoldCo LLC, 6.63%, 10/15/29 (Call 10/15/24)^(a)(b)		1,945		1,692,150
Methanex Corp.
4.25%, 12/01/24 (Call 09/01/24)		546		537,367
5.13%, 10/15/27 (Call 04/15/27)^(b)		3,633		3,487,680
5.25%, 12/15/29 (Call 09/15/29)^(b)		3,219		3,058,050
5.65%, 12/01/44 (Call 06/01/44)		1,613		1,411,375
Minerals Technologies Inc., 5.00%, 07/01/28 (Call 07/01/23)^(a)(b)		1,882		1,757,280
NOVA Chemicals Corp.
4.25%, 05/15/29 (Call 05/15/24)^(a)(b)		2,647		2,289,655
4.88%, 06/01/24 (Call 03/03/24)^(a)		4,943		4,875,034
5.00%, 05/01/25 (Call 01/31/25)^(a)		2,256		2,233,440
5.25%, 06/01/27 (Call 03/03/27)^(a)		4,833		4,579,267
Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00%, 01/27/30 (Call 01/27/25)^(a)		1,935		1,828,575
OCI NV, 4.63%, 10/15/25 (Call 10/15/22)^(a)(b)		1,275		1,279,781
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(b)		2,214		2,092,230
5.13%, 09/15/27 (Call 05/31/22)		2,036		2,017,065
5.63%, 08/01/29 (Call 08/01/24)^(b)		3,511		3,457,282
Olympus Water U.S. Holding Corp.
4.25%, 10/01/28 (Call 10/01/24)^(a)(b)		4,075		3,600,914
6.25%, 10/01/29 (Call 10/01/24)^(a)(b)		2,025		1,680,750
PMHC II Inc., 9.00%, 02/15/30 (Call 02/15/25)^(a)		3,680		2,962,400
Polar U.S. Borrower LLC/Schenectady International Group Inc., 6.75%, 05/15/26 (Call 05/15/23)^(a)		1,625		1,316,250
Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 04/01/25 (Call 05/31/22)^(a)(b)		2,970		2,858,625
Rayonier AM Products Inc.
5.50%, 06/01/24 (Call 05/31/22)^(a)(b)		1,233		1,233,000
7.63%, 01/15/26 (Call 01/15/24)^(a)(b)		2,591		2,460,932
SCIH Salt Holdings Inc.
4.88%, 05/01/28 (Call 05/01/24)^(a)(b)		4,775		4,128,202
6.63%, 05/01/29 (Call 05/01/24)^(a)(b)		3,887		3,100,504
SCIL USA Holdings LLC, Class-H, 5.38%, 11/01/26 (Call 11/01/23)^(a)(b)		3,660		3,339,750
SPCM SA
3.13%, 03/15/27 (Call 03/15/24)^(a)		1,960		1,729,700
3.38%, 03/15/30 (Call 03/15/25)^(a)		1,800		1,525,500
TPC Group Inc., 10.50%, 08/01/24 (Call 05/31/22)^(a)(f)(g)		4,679		1,521,611


Security	Par (000)		Value

Chemicals (continued)
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
5.13%, 04/01/29 (Call 04/01/24)^(a)	$	2,391	$	2,107,523
5.38%, 09/01/25 (Call 05/30/22)^(a)(b)		2,402		2,317,930
Tronox Inc., 4.63%, 03/15/29 (Call 03/15/24)^(a)(b)		4,970		4,435,725
Valvoline Inc.
3.63%, 06/15/31 (Call 06/15/26)^(a)(b)		2,545		2,067,813
4.25%, 02/15/30 (Call 02/15/25)^(a)(b)		2,901		2,516,617
Venator Finance Sarl/Venator Materials LLC, 5.75%, 07/15/25 (Call 05/31/22)^(a)(b)		1,707		1,399,740
WR Grace Holdings LLC
4.88%, 06/15/27 (Call 06/15/23)^(a)		3,099		2,913,680
5.63%, 10/01/24^(a)(b)		1,417		1,420,543
5.63%, 08/15/29 (Call 08/15/24)^(a)(b)		6,000		5,111,400


				144,482,376

Coal — 0.1%
Alliance Resource Operating Partners LP/Alliance Resource Finance Corp., 7.50%, 05/01/25 (Call 05/31/22)^(a)(b)		1,598		1,601,995
Coronado Finance Pty Ltd., 10.75%, 05/15/26 (Call 05/15/23)^(a)		1,571		1,684,897
Natural Resource Partners LP/NRP Finance Corp., 9.13%, 06/30/25 (Call 05/31/22)^(a)		952		968,660
Peabody Energy Corp., 6.38%, 03/31/25 (Call 05/31/22)^(a)(b)		269		263,620
SunCoke Energy Inc., 4.88%, 06/30/29 (Call 06/30/24)^(a)(b)		2,525		2,263,789
Warrior Met Coal Inc., 7.88%, 12/01/28 (Call 12/01/24)^(a)(b)		1,950		2,039,466


				8,822,427

Commercial Services — 4.3%
ADT Security Corp. (The)
4.13%, 06/15/23		2,400		2,385,600
4.13%, 08/01/29 (Call 08/01/28)^(a)(b)		5,590		4,746,078
4.88%, 07/15/32^(a)(b)		3,471		2,937,334
Adtalem Global Education Inc., 5.50%, 03/01/28 (Call 03/01/24)^(a)(b)		3,012		2,765,392
Ahern Rentals Inc., 7.38%, 05/15/23 (Call 05/31/22)^(a)(b)		2,533		2,381,020
Albion Financing 1 Sarl/Aggreko Holdings Inc., 6.13%, 10/15/26 (Call 10/15/23)^(a)		2,685		2,497,050
Albion Financing 2SARL, 8.75%, 04/15/27 (Call 10/15/23)^(a)(b)		2,200		2,073,500
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.00%, 06/01/29 (Call 06/01/24)^(a)(b)		4,710		3,897,525
6.63%, 07/15/26 (Call 07/15/22)^(a)		9,580		9,258,495
9.75%, 07/15/27 (Call 07/15/22)^(a)		5,105		4,954,887
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/28 (Call 06/01/24)^(a)		9,535		8,409,375
Alta Equipment Group Inc., 5.63%, 04/15/26 (Call 04/15/23)^(a)		1,713		1,592,559
AMN Healthcare Inc.
4.00%, 04/15/29 (Call 04/15/24)^(a)		1,904		1,723,120
4.63%, 10/01/27 (Call 10/01/22)^(a)(b)		2,741		2,631,716
APi Escrow Corp., 4.75%, 10/15/29 (Call 10/15/24)^(a)		1,305		1,174,500
APi Group DE Inc., 4.13%, 07/15/29 (Call 07/15/24)^(a)		1,705		1,521,764
Aptim Corp., 7.75%, 06/15/25 (Call 05/16/22)^(a)(b)		2,692		2,099,760


Security	Par (000)		Value

Commercial Services (continued)
APX Group Inc.
5.75%, 07/15/29 (Call 07/15/24)^(a)(b)	$	3,800	$	3,113,530
6.75%, 02/15/27 (Call 02/15/23)^(a)(b)		3,097		3,069,901
ASGN Inc., 4.63%, 05/15/28 (Call 05/15/23)^(a)		2,782		2,584,478
Autopistas Metropolitanas de Puerto Rico LLC, 6.75%, 06/30/35^(a)		715		658,352
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
4.75%, 04/01/28 (Call 04/01/24)^(a)(b)		2,411		2,236,203
5.38%, 03/01/29 (Call 03/01/24)^(a)(b)		3,007		2,819,062
5.75%, 07/15/27 (Call 07/15/22)^(a)		3,158		3,091,082
Block Inc.
2.75%, 06/01/26 (Call 05/01/26)^(a)(b)		4,620		4,213,532
3.50%, 06/01/31 (Call 03/01/31)^(a)(b)		4,970		4,162,375
Brink’s Co. (The)
4.63%, 10/15/27 (Call 10/15/22)^(a)(b)		3,563		3,375,942
5.50%, 07/15/25 (Call 07/15/22)^(a)		1,699		1,703,859
Carriage Services Inc., 4.25%, 05/15/29 (Call 05/15/24)^(a)(b)		1,666		1,449,420
Cimpress PLC, 7.00%, 06/15/26 (Call 05/30/22)^(a)		3,053		2,846,922
CoreCivic Inc.
4.63%, 05/01/23 (Call 02/01/23)^(b)		680		681,972
4.75%, 10/15/27 (Call 07/15/27)^(b)		1,297		1,154,026
8.25%, 04/15/26 (Call 04/15/24)		3,205		3,292,240
CoreLogic Inc., 4.50%, 05/01/28 (Call 05/01/24)^(a)(b)		3,280		2,906,178
CPI CG Inc., 8.63%, 03/15/26 (Call 03/15/23)^(a)(b)		1,471		1,419,515
Deluxe Corp., 8.00%, 06/01/29 (Call 06/01/24)^(a)(b)		2,225		2,111,325
Garda World Security Corp.
4.63%, 02/15/27 (Call 02/15/23)^(a)(b)		2,729		2,456,100
6.00%, 06/01/29 (Call 06/01/24)^(a)		2,710		2,245,479
9.50%, 11/01/27 (Call 11/01/22)^(a)(b)		2,725		2,677,313
Gartner Inc.
3.63%, 06/15/29 (Call 06/15/24)^(a)(b)		2,670		2,389,650
3.75%, 10/01/30 (Call 10/01/25)^(a)(b)		3,915		3,491,397
4.50%, 07/01/28 (Call 07/01/23)^(a)(b)		3,605		3,455,088
Graham Holdings Co., 5.75%, 06/01/26 (Call 05/10/22)^(a)		1,493		1,504,198
Grand Canyon University
4.13%, 10/01/24		2,500		2,433,700
5.13%, 10/01/28 (Call 08/01/28)^(b)		1,025		986,563
HealthEquity Inc., 4.50%, 10/01/29 (Call 10/01/24)^(a)		2,790		2,549,363
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)		5,193		5,087,582
Hertz Corp. (The)
4.63%, 12/01/26 (Call 12/01/23)^(a)		2,640		2,406,413
5.00%, 12/01/29 (Call 12/01/24)^(a)(b)		4,770		4,173,750
Korn Ferry, 4.63%, 12/15/27 (Call 12/15/22)^(a)(b)		1,656		1,569,060
Legends Hospitality Holding Co. LLC/Legends
Hospitality Co-Issuer Inc., 5.00%, 02/01/26 (Call 02/01/23)^(a)		1,885		1,768,978
Metis Merger Sub LLC, 6.50%, 05/15/29 (Call 05/15/24)^(a)(b)		3,250		2,827,500
MoneyGram International Inc., 5.38%, 08/01/26 (Call 08/01/23)^(a)		1,070		1,091,464
MPH Acquisition Holdings LLC
5.50%, 09/01/28 (Call 09/01/24)^(a)		5,045		4,672,931
5.75%, 11/01/28 (Call 11/01/23)^(a)(b)		6,239		5,434,075
NESCO Holdings II Inc., 5.50%, 04/15/29 (Call 04/15/24)^(a)		4,470		4,212,215
Nielsen Co Luxembourg SARL (The), 5.00%, 02/01/25 (Call 05/30/22)^(a)(b)		1,502		1,503,825


Security	Par (000)		Value

Commercial Services (continued)
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 07/15/29 (Call 07/15/24)^(a)(b)	$	3,670	$	3,468,333
4.75%, 07/15/31 (Call 07/15/26)^(a)(b)		2,730		2,580,178
5.63%, 10/01/28 (Call 10/01/23)^(a)		4,628		4,484,671
5.88%, 10/01/30 (Call 10/01/25)^(a)(b)		3,596		3,448,708
Paysafe Finance PLC/Paysafe Holdings U.S. Corp., 4.00%, 06/15/29 (Call 06/15/24)^(a)(b)		2,150		1,752,250
PECF USS Intermediate Holding III Corp., 8.00%, 11/15/29 (Call 11/15/24)^(a)(b)		2,735		2,523,038
Prime Security Services Borrower LLC/Prime Finance Inc.
3.38%, 08/31/27 (Call 08/31/26)^(a)		4,410		3,763,891
5.25%, 04/15/24^(a)(b)		3,510		3,505,612
5.75%, 04/15/26^(a)(b)		6,396		6,132,165
6.25%, 01/15/28 (Call 01/15/23)^(a)(b)		6,443		5,775,183
PROG Holdings Inc., 6.00%, 11/15/29 (Call 11/15/24)^(a)(b)		2,775		2,452,268
Rent-A-Center Inc./TX, 6.38%, 02/15/29
(Call 02/15/24)^(a)(b)		2,285		1,971,132
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 05/31/22)^(a)		1,783		1,787,725
RR Donnelley & Sons Co.
6.13%, 11/01/26 (Call 11/01/23)^(a)		2,772		2,699,235
8.25%, 07/01/27 (Call 07/01/23)		979		1,091,585
8.50%, 04/15/29^(a)		25		36,750
Sabre GLBL Inc.
7.38%, 09/01/25 (Call 09/01/22)^(a)(b)		4,062		4,108,490
9.25%, 04/15/25 (Call 03/16/25)^(a)(b)		3,703		3,949,361
Service Corp. International/U.S.
3.38%, 08/15/30 (Call 08/15/25)^(b)		5,025		4,321,500
4.00%, 05/15/31 (Call 05/15/26)^(b)		3,515		3,163,500
4.63%, 12/15/27 (Call 12/15/22)^(b)		1,870		1,813,900
5.13%, 06/01/29 (Call 06/01/24)^(b)		3,245		3,200,959
Shift4 Payments LLC/Shift4 Payments Finance
Sub Inc., 4.63%, 11/01/26 (Call 11/01/22)^(a)(b)		2,070		1,982,025
Signal Parent Inc., 6.13%, 04/01/29 (Call 04/01/24)^(a)		1,535		1,172,537
Sotheby’s, 7.38%, 10/15/27 (Call 10/15/22)^(a)(b)		3,334		3,287,491
Sotheby’s/Bidfair Holdings Inc., 5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		1,675		1,573,258
StoneMor Inc., 8.50%, 05/15/29 (Call 05/15/24)^(a)(b)		2,060		1,993,050
Team Health Holdings Inc., 6.38%, 02/01/25 (Call 05/16/22)^(a)(b)		3,658		3,117,494
TriNet Group Inc., 3.50%, 03/01/29 (Call 03/01/24)^(a)(b)		2,182		1,977,438
United Rentals North America Inc.
3.75%, 01/15/32 (Call 07/15/26)		3,270		2,844,900
3.88%, 02/15/31 (Call 08/15/25)^(b)		4,868		4,292,602
4.00%, 07/15/30 (Call 07/15/25)^(b)		3,568		3,193,360
4.88%, 01/15/28 (Call 01/15/23)		8,449		8,221,384
5.25%, 01/15/30 (Call 01/15/25)^(b)		3,591		3,483,270
5.50%, 05/15/27 (Call 05/31/22)		4,599		4,679,482
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 05/31/22)^(a)		4,971		5,120,130
WASH Multifamily Acquisition Inc., 5.75%, 04/15/26 (Call 04/15/23)^(a)(b)		4,061		3,949,322
WW International Inc., 4.50%, 04/15/29 (Call 04/15/24)^(a)(b)		2,405		1,902,956
ZipRecruiter Inc., 5.00%, 01/15/30 (Call 01/15/25)^(a)(b)		2,750		2,571,250


				286,268,616


Security	Par (000)		Value

Computers — 1.2%
Ahead DB Holdings LLC, 6.63%, 05/01/28 (Call 05/01/24)^(a)(b)	$	2,157	$	1,898,160
Austin BidCo Inc., 7.13%, 12/15/28 (Call 12/15/23)^(a)(b)		1,827		1,644,300
Booz Allen Hamilton Inc.
3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		3,457		3,184,450
4.00%, 07/01/29 (Call 07/01/24)^(a)(b)		2,415		2,227,572
Condor Merger Sub Inc., 7.38%, 02/15/30 (Call 02/15/25)^(a)		9,925		8,879,897
Conduent Business Services LLC/Conduent State & Local Solutions Inc., 6.00%, 11/01/29 (Call 11/01/24)^(a)(b)		2,420		2,226,400
Crowdstrike Holdings Inc., 3.00%, 02/15/29 (Call 02/15/24)		3,055		2,718,950
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 05/31/22)^(b)		2,307		1,516,137
9.38%, 07/15/25 (Call 07/15/22)^(a)(b)		3,232		2,860,320
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)^(a)		4,174		1,523,510
KBR Inc., 4.75%, 09/30/28 (Call 09/30/23)^(a)(b)		540		508,950
NCR Corp.
5.00%, 10/01/28 (Call 10/01/23)^(a)		3,017		2,881,235
5.13%, 04/15/29 (Call 04/15/24)^(a)(b)		5,899		5,618,797
5.25%, 10/01/30 (Call 10/01/25)^(a)(b)		1,988		1,878,660
5.75%, 09/01/27 (Call 09/01/22)^(a)		2,373		2,284,013
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		2,456		2,351,620
Presidio Holdings Inc.
4.88%, 02/01/27 (Call 02/01/23)^(a)		2,393		2,270,909
8.25%, 02/01/28 (Call 02/01/23)^(a)		2,372		2,303,615
Science Applications International Corp., 4.88%, 04/01/28 (Call 04/01/23)^(a)		1,803		1,721,865
Seagate HDD Cayman
3.13%, 07/15/29 (Call 01/15/24)^(b)		2,550		2,153,909
3.38%, 07/15/31 (Call 01/15/26)		2,677		2,176,321
4.09%, 06/01/29 (Call 03/01/29)		2,638		2,341,225
4.13%, 01/15/31 (Call 10/15/30)		2,675		2,347,312
4.75%, 06/01/23^(b)		1,696		1,704,480
4.75%, 01/01/25^(b)		1,311		1,301,168
4.88%, 03/01/24 (Call 01/01/24)		1,872		1,881,360
4.88%, 06/01/27 (Call 03/01/27)^(b)		2,837		2,765,962
5.75%, 12/01/34 (Call 06/01/34)		2,115		1,988,100
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25 (Call 06/01/22)^(a)(b)		1,252		1,261,390
Unisys Corp., 6.88%, 11/01/27 (Call 11/01/23)^(a)		2,434		2,442,349
Vericast Corp., 11.00%, 09/15/26 (Call 09/15/23)^(a)		6,193		5,883,361


				78,746,297

Cosmetics & Personal Care — 0.3%
Avon Products Inc., 6.50%, 03/15/23^(b)		1,499		1,549,591
Coty Inc.
5.00%, 04/15/26 (Call 04/15/23)^(a)(b)		4,313		4,096,703
6.50%, 04/15/26 (Call 05/31/22)^(a)(b)		2,812		2,734,670
Coty Inc/HFC Prestige Products Inc/HFC Prestige
International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)^(a)		2,405		2,140,450
Edgewell Personal Care Co.
4.13%, 04/01/29 (Call 04/01/24)^(a)(b)		2,305		2,045,688
5.50%, 06/01/28 (Call 06/01/23)^(a)(b)		3,541		3,425,917
Oriflame Investment Holding PLC, 5.13%, 05/04/26 (Call 05/15/23)^(a)(b)		2,675		1,905,938


Security	Par (000)		Value

Cosmetics & Personal Care (continued)
Revlon Consumer Products Corp., 6.25%, 08/01/24 (Call 05/31/22)	$	749	$	246,073


				18,145,030

Distribution & Wholesale — 0.5%
American Builders & Contractors Supply Co. Inc.
3.88%, 11/15/29 (Call 11/15/24)^(a)(b)		1,600		1,413,440
4.00%, 01/15/28 (Call 01/15/23)^(a)(b)		3,147		2,934,577
Avient Corp.
5.25%, 03/15/23		996		998,490
5.75%, 05/15/25 (Call 05/31/22)^(a)		3,025		3,054,978
BCPE Empire Holdings Inc., 7.63%, 05/01/27 (Call 05/01/23)^(a)		2,956		2,770,452
G-III Apparel Group Ltd., 7.88%, 08/15/25 (Call 08/15/22)^(a)(b)		1,919		1,995,760
H&E Equipment Services Inc., 3.88%, 12/15/28 (Call 12/15/23)^(a)(b)		5,705		4,969,312
IAA Inc., 5.50%, 06/15/27 (Call 06/15/22)^(a)		2,065		2,018,537
KAR Auction Services Inc., 5.13%, 06/01/25 (Call 05/31/22)^(a)(b)		4,085		4,130,956
Resideo Funding Inc., 4.00%, 09/01/29 (Call 09/01/24)^(a)(b)		1,100		979,000
Ritchie Bros Holdings Inc., 4.75%, 12/15/31 (Call 12/15/26)^(a)		2,710		2,710,000
Univar Solutions USA Inc., 5.13%, 12/01/27 (Call 12/01/22)^(a)(b)		2,017		1,933,456
Wesco Aircraft Holdings Inc., 9.00%, 11/15/26 (Call 11/15/22)^(a)(b)		4,414		2,741,624
Wolverine Escrow LLC
8.50%, 11/15/24 (Call 05/31/22)^(a)		2,885		1,604,089
13.13%, 11/15/27 (Call 11/15/22)^(a)(b)		2,836		1,063,500


				35,318,171

Diversified Financial Services — 3.4%
Advisor Group Holdings Inc., 10.75%, 08/01/27 (Call 08/01/22)^(a)(b)		1,535		1,621,344
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(b)(d)		4,070		3,815,625
AG Issuer LLC, 6.25%, 03/01/28 (Call 03/01/23)^(a)(b)		2,288		2,236,520
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)		4,623		4,749,231
Aretec Escrow Issuer Inc., 7.50%, 04/01/29 (Call 04/01/24)^(a)		2,031		1,891,369
Armor Holdco Inc., 8.50%, 11/15/29 (Call 11/15/24)^(a)		1,600		1,538,000
Burford Capital Global Finance LLC, 6.88%, 04/15/30		1,410		1,373,693
Castlelake Aviation Finance DAC, 5.00%, 04/15/27 (Call 04/15/24)^(a)(b)		2,325		2,092,500
Cobra AcquisitionCo LLC, 6.38%, 11/01/29 (Call 11/01/24)^(a)(b)		1,985		1,518,525
Coinbase Global Inc.
3.38%, 10/01/28 (Call 10/01/24)^(a)(b)		4,875		3,785,096
3.63%, 10/01/31 (Call 10/01/26)^(a)		4,786		3,535,562
Credit Acceptance Corp.
5.13%, 12/31/24 (Call 05/10/22)^(a)(b)		1,274		1,258,725
6.63%, 03/15/26 (Call 05/10/22)^(b)		2,213		2,235,130
Curo Group Holdings Corp., 7.50%, 08/01/28 (Call 08/01/24)^(a)(b)		4,770		3,971,025
Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)^(a)(b)		4,234		4,212,322
Enova International Inc.
8.50%, 09/01/24 (Call 05/31/22)^(a)(b)		876		876,263
8.50%, 09/15/25 (Call 05/31/22)^(a)(b)		2,022		2,011,890


Security	Par (000)		Value

Diversified Financial Services (continued)
Finance of America Funding LLC, 7.88%, 11/15/25 (Call 11/15/22)^(a)(b)	$	1,864	$	1,668,280
Global Aircraft Leasing Co. Ltd., 6.50%, 09/15/24 (Call 05/30/22), (7.25% PIK)^(a)(b)(c)		8,633		7,446,127
goeasy Ltd.
4.38%, 05/01/26 (Call 05/01/23)^(a)(b)		1,520		1,409,800
5.38%, 12/01/24 (Call 05/30/22)^(a)(b)		2,363		2,315,740
GPS Hospitality Holding Co LLC/GPS Finco Inc., 7.00%, 08/15/28 (Call 08/15/24)^(a)		2,110		1,603,600
Home Point Capital Inc., 5.00%, 02/01/26 (Call 02/01/23)^(a)(b)		2,855		2,255,450
Jane Street Group/JSG Finance Inc., 4.50%, 11/15/29 (Call 11/15/24)^(a)(b)		3,215		2,977,154
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)^(a)(b)		4,745		4,317,997
Jefferson Capital Holdings LLC, 6.00%, 08/15/26 (Call 08/15/23)^(a)(b)		1,590		1,479,527
LD Holdings Group LLC
6.13%, 04/01/28 (Call 04/01/24)^(a)(b)		3,225		2,434,875
6.50%, 11/01/25 (Call 11/01/22)^(a)(b)		2,274		1,883,224
LFS Topco LLC, 5.88%, 10/15/26 (Call 10/15/23)^(a)(b)		1,650		1,526,250
LPL Holdings Inc.
4.00%, 03/15/29 (Call 03/15/24)^(a)(b)		4,620		4,204,200
4.38%, 05/15/31 (Call 05/15/26)^(a)(b)		1,960		1,789,480
4.63%, 11/15/27 (Call 11/15/22)^(a)		1,417		1,344,379
Midcap Financial Issuer Trust
5.63%, 01/15/30 (Call 01/15/25)^(a)(b)		1,785		1,421,342
6.50%, 05/01/28 (Call 05/01/24)^(a)		4,845		4,178,812
Nationstar Mortgage Holdings Inc.
5.13%, 12/15/30 (Call 12/15/25)^(a)		2,930		2,548,485
5.50%, 08/15/28 (Call 08/15/23)^(a)		3,895		3,544,450
5.75%, 11/15/31 (Call 11/15/26)^(a)(b)		2,910		2,582,625
6.00%, 01/15/27 (Call 01/15/23)^(a)(b)		3,063		2,971,110
Navient Corp.
4.88%, 03/15/28 (Call 06/15/27)		2,505		2,198,138
5.00%, 03/15/27 (Call 09/15/26)^(b)		4,335		3,946,085
5.50%, 03/15/29 (Call 06/15/28)^(b)		3,830		3,367,834
5.63%, 08/01/33		2,667		2,106,930
5.88%, 10/25/24^(b)		2,143		2,126,928
6.13%, 03/25/24		3,717		3,737,908
6.75%, 06/25/25		2,497		2,490,757
6.75%, 06/15/26		2,354		2,312,899
7.25%, 09/25/23^(b)		804		824,100
NFP Corp.
4.88%, 08/15/28 (Call 08/15/23)^(a)(b)		3,125		2,843,750
6.88%, 08/15/28 (Call 08/15/23)^(a)(b)		9,833		8,737,112
OneMain Finance Corp.
3.50%, 01/15/27 (Call 01/15/24)^(b)		3,435		3,017,716
3.88%, 09/15/28 (Call 09/15/24)^(b)		2,805		2,377,238
4.00%, 09/15/30 (Call 09/15/25)^(b)		3,796		3,107,662
5.38%, 11/15/29 (Call 05/15/29)		3,506		3,146,635
5.63%, 03/15/23		2,698		2,724,980
6.13%, 03/15/24 (Call 09/15/23)		6,571		6,596,167
6.63%, 01/15/28 (Call 07/15/27)^(b)		4,271		4,218,424
6.88%, 03/15/25		5,736		5,764,680
7.13%, 03/15/26		8,021		8,121,262
8.25%, 10/01/23^(b)		837		866,295
8.88%, 06/01/25 (Call 06/01/22)		2,415		2,534,542
Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., 6.38%, 02/01/27 (Call 02/01/24)^(a)		2,365		2,394,089


Security	Par (000)		Value

Diversified Financial Services (continued)
PennyMac Financial Services Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)	$	3,040	$	2,443,947
5.38%, 10/15/25 (Call 10/15/22)^(a)		3,456		3,265,920
5.75%, 09/15/31 (Call 09/15/26)^(a)(b)		2,296		1,882,720
PHH Mortgage Corp., 7.88%, 03/15/26 (Call 03/15/23)^(a)(b)		2,141		1,926,622
PRA Group Inc.
5.00%, 10/01/29 (Call 10/01/24)^(a)(b)		1,335		1,235,182
7.38%, 09/01/25 (Call 09/01/22)^(a)(b)		1,383		1,430,990
Provident Funding Associates LP/PFG Finance Corp., 6.38%, 06/15/25 (Call 05/31/22)^(a)(b)		1,380		1,354,125
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc.
2.88%, 10/15/26 (Call 10/15/23)^(a)(b)		5,820		5,150,700
3.63%, 03/01/29 (Call 03/01/24)^(a)(b)		3,887		3,323,385
3.88%, 03/01/31 (Call 03/01/26)^(a)(b)		6,029		5,087,451
4.00%, 10/15/33 (Call 10/15/27)^(a)(b)		3,973		3,182,969
SLM Corp.
3.13%, 11/02/26 (Call 10/02/26)^(b)		2,450		2,238,663
4.20%, 10/29/25 (Call 09/29/25)^(b)		2,217		2,165,488
StoneX Group Inc., 8.63%, 06/15/25 (Call 06/15/22)^(a)		878		918,195
TMX Finance LLC/TitleMax Finance Corp., 11.13%, 04/01/23 (Call 05/31/22)^(a)		929		915,056
United Wholesale Mortgage LLC
5.50%, 11/15/25 (Call 11/15/22)^(a)(b)		3,691		3,391,254
5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		3,644		3,023,317
5.75%, 06/15/27 (Call 06/15/24)^(a)(b)		2,315		2,008,263
VistaJet Malta Finance PLC/XO Management Holding Inc., 7.88%, 05/01/27^(a)		2,425		2,281,198
World Acceptance Corp., 7.00%, 11/01/26 (Call 11/01/23)^(a)		1,465		1,270,873


				226,684,176

Electric — 2.5%
Algonquin Power & Utilities Corp., 4.75%, 01/18/82 (Call 01/18/27)^(d)		3,750		3,429,262
Calpine Corp.
3.75%, 03/01/31 (Call 03/01/26)^(a)(b)		4,484		3,777,770
4.50%, 02/15/28 (Call 02/15/23)^(a)		5,689		5,266,421
4.63%, 02/01/29 (Call 02/01/24)^(a)(b)		3,330		2,910,237
5.00%, 02/01/31 (Call 02/01/26)^(a)		4,030		3,436,502
5.13%, 03/15/28 (Call 03/15/23)^(a)		6,757		6,137,890
5.25%, 06/01/26 (Call 05/31/22)^(a)(b)		1,659		1,638,262
Clearway Energy Operating LLC
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		4,040		3,474,400
3.75%, 01/15/32 (Call 01/15/27)^(a)		1,765		1,495,838
4.75%, 03/15/28 (Call 03/15/23)^(a)(b)		4,002		3,781,890
DPL Inc.
4.13%, 07/01/25 (Call 04/01/25)		1,894		1,818,240
4.35%, 04/15/29 (Call 01/15/29)^(b)		1,978		1,809,870
Drax Finco PLC, 6.63%, 11/01/25 (Call 05/10/22)^(a)(b)		1,699		1,707,495
Electricite de France SA, 5.63%, (Call 01/22/24)^(a)(b)(d)(e)		7,020		6,860,786
Emera Inc., Series 16-A, 6.75%, 06/15/76 (Call 06/15/26)^(b)(d)		5,481		5,556,364
FirstEnergy Corp.
2.05%, 03/01/25 (Call 02/01/25)		555		523,088
2.65%, 03/01/30 (Call 12/01/29)		3,403		2,885,846
Series A, 1.60%, 01/15/26 (Call 12/15/25)		865		790,221
Series B, 2.25%, 09/01/30 (Call 06/01/30)		2,659		2,220,265
Series B, 4.15%, 07/15/27 (Call 04/15/27)^(b)		7,655		7,426,804
Series C, 3.40%, 03/01/50 (Call 09/01/49)		4,115		3,065,675


Security	Par (000)		Value

Electric (continued)
Series C, 5.35%, 07/15/47 (Call 01/15/47)	$	4,794	$	4,480,952
Series C, 7.38%, 11/15/31		7,030		8,062,074
InterGen NV, 7.00%, 06/30/23 (Call 05/30/22)^(a)(b)		1,794		1,749,150
Leeward Renewable Energy Operations LLC, 4.25%, 07/01/29 (Call 07/01/24)^(a)		1,475		1,320,125
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)		2,245		2,118,719
4.25%, 07/15/24 (Call 04/15/24)^(a)		3,614		3,587,582
4.25%, 09/15/24 (Call 07/15/24)^(a)		226		222,309
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		2,512		2,379,442
NRG Energy Inc.
3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		2,700		2,288,250
3.63%, 02/15/31 (Call 02/15/26)^(a)		4,558		3,794,535
3.88%, 02/15/32 (Call 02/15/27)^(a)(b)		4,875		4,069,382
5.25%, 06/15/29 (Call 06/15/24)^(a)		3,841		3,617,723
5.75%, 01/15/28 (Call 01/15/23)^(b)		4,448		4,347,920
6.63%, 01/15/27 (Call 05/16/22)^(b)		1,376		1,393,200
Pattern Energy Operations LP/Pattern Energy Operations Inc., 4.50%, 08/15/28 (Call 08/15/23)^(a)(b)		3,210		3,001,350
PG&E Corp.
5.00%, 07/01/28 (Call 07/01/23)^(b)		5,021		4,620,274
5.25%, 07/01/30 (Call 07/01/25)^(b)		4,560		4,144,082
Pike Corp., 5.50%, 09/01/28 (Call 09/01/23)^(a)(b)		3,856		3,499,320
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 05/31/22)^(b)		2,600		962,000
6.63%, 01/15/28 (Call 01/15/23)^(a)(b)		2,328		2,202,870
7.25%, 05/15/27 (Call 05/31/22)^(a)		3,789		3,627,967
7.63%, 06/01/28 (Call 06/01/23)^(a)(b)		2,019		1,935,716
10.50%, 01/15/26 (Call 05/31/22)^(a)		3,093		1,144,410
Terraform Global Operating LLC, 6.13%, 03/01/26 (Call 05/31/22)^(a)(b)		1,662		1,632,915
TransAlta Corp., 6.50%, 03/15/40		1,503		1,504,841
Vistra Operations Co. LLC
4.38%, 05/01/29 (Call 05/01/24)^(a)		5,760		5,227,085
5.00%, 07/31/27 (Call 07/31/22)^(a)(b)		6,913		6,584,632
5.50%, 09/01/26 (Call 05/10/22)^(a)		4,436		4,420,474
5.63%, 02/15/27 (Call 05/10/22)^(a)(b)		6,340		6,244,900

				164,197,325

Electrical Components & Equipment — 0.3%
Energizer Holdings Inc.
4.38%, 03/31/29 (Call 09/30/23)^(a)(b)		3,801		3,165,055
4.75%, 06/15/28 (Call 06/15/23)^(a)(b)		2,815		2,475,004
6.50%, 12/31/27 (Call 08/31/24)^(a)		1,380		1,324,800
EnerSys
4.38%, 12/15/27 (Call 09/15/27)^(a)(b)		1,728		1,602,720
5.00%, 04/30/23 (Call 01/30/23)^(a)(b)		462		463,155
WESCO Distribution Inc.
7.13%, 06/15/25 (Call 06/15/22)^(a)(b)		7,100		7,375,125
7.25%, 06/15/28 (Call 06/15/23)^(a)(b)		5,787		5,975,077


				22,380,936

Electronics — 0.6%
Atkore Inc., 4.25%, 06/01/31 (Call 06/01/26)^(a)		1,500		1,327,500
II-VI Inc., 5.00%, 12/15/29 (Call 12/14/24)^(a)(b)		4,480		4,200,000
Imola Merger Corp., 4.75%, 05/15/29 (Call 05/15/24)^(a)(b)		9,293		8,642,490
Likewize Corp., 9.75%, 10/15/25 (Call 10/15/22)^(a)(b)		2,218		2,157,005
Schweitzer-Mauduit International Inc., 6.88%, 10/01/26 (Call 05/30/22)^(a)		1,807		1,623,355


Security	Par (000)		Value

Electronics (continued)
Sensata Technologies BV
4.00%, 04/15/29 (Call 04/15/24)^(a)(b)	$	4,440	$	3,958,105
4.88%, 10/15/23^(a)(b)		2,470		2,476,298
5.00%, 10/01/25^(a)(b)		3,824		3,795,320
5.63%, 11/01/24^(a)(b)		2,225		2,250,031
Sensata Technologies Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		3,755		3,175,003
4.38%, 02/15/30 (Call 11/15/29)^(a)(b)		2,012		1,830,296
TTM Technologies Inc., 4.00%, 03/01/29 (Call 03/01/24)^(a)(b)		2,310		2,021,250


				37,456,653

Energy - Alternate Sources — 0.3%
Atlantica Sustainable Infrastructure PLC, 4.13%, 06/15/28 (Call 06/15/25)^(a)		1,950		1,774,500
Enviva Partners LP/Enviva Partners Finance Corp., 6.50%, 01/15/26 (Call 05/31/22)^(a)(b)		3,255		3,316,715
Renewable Energy Group Inc., 5.88%, 06/01/28 (Call 06/01/24)^(a)(b)		2,720		2,880,888
Sunnova Energy Corp., 5.88%, 09/01/26 (Call 09/01/23)^(a)(b)		2,230		2,040,450
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)^(a)(b)		70		70,088
4.75%, 01/15/30 (Call 01/15/25)^(a)(b)		2,866		2,579,400
5.00%, 01/31/28 (Call 07/31/27)^(a)		3,637		3,396,612
Topaz Solar Farms LLC, 5.75%, 09/30/39^(a)(b)		2,815		2,855,250


				18,913,903

Engineering & Construction — 0.7%
AECOM, 5.13%, 03/15/27 (Call 12/15/26)		4,638		4,585,822
Arcosa Inc., 4.38%, 04/15/29 (Call 04/15/24)^(a)		1,645		1,500,882
Artera Services LLC, 9.03%, 12/04/25 (Call 02/04/23)^(a)(b)		5,073		4,801,315
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 05/31/22)^(a)(b)		5,025		4,484,812
Brundage-Bone Concrete Pumping Holdings Inc., 6.00%, 02/01/26 (Call 02/01/23)^(a)		1,925		1,799,875
Cellnex Finance Co SA, 3.88%, 07/07/41 (Call 04/07/41)^(a)(b)		2,975		2,226,817
Dycom Industries Inc., 4.50%, 04/15/29 (Call 04/15/24)^(a)(b)		2,242		2,045,825
Fluor Corp.
3.50%, 12/15/24 (Call 09/15/24)^(b)		991		971,832
4.25%, 09/15/28 (Call 06/15/28)^(b)		3,515		3,334,188
Global Infrastructure Solutions Inc.
5.63%, 06/01/29 (Call 06/01/24)^(a)(b)		1,750		1,594,906
7.50%, 04/15/32		1,425		1,327,473
Great Lakes Dredge & Dock Corp., 5.25%, 06/01/29 (Call 06/01/24)^(a)(b)		1,130		1,056,550
IEA Energy Services LLC, 6.63%, 08/15/29 (Call 08/15/24)^(a)		1,500		1,372,500
INNOVATE Corp., 8.50%, 02/01/26 (Call 02/01/23)^(a)		1,820		1,757,547
MasTec Inc., 4.50%, 08/15/28 (Call 08/15/23)^(a)(b)		180		172,590
Promontoria Holding 264 BV, 7.88%, 03/01/27 (Call 03/01/24)^(a)		1,990		1,870,600
Railworks Holdings LP/Railworks Rally Inc., 8.25%, 11/15/28 (Call 11/15/24)^(a)		1,575		1,563,188
TopBuild Corp.
3.63%, 03/15/29 (Call 03/15/24)^(a)(b)		1,770		1,542,113
4.13%, 02/15/32 (Call 10/15/26)^(a)(b)		2,382		2,052,228
Tutor Perini Corp., 6.88%, 05/01/25 (Call 05/16/22)^(a)(b)		2,552		2,389,310


Security	Par (000)		Value

Engineering & Construction (continued)
VM Consolidated Inc., 5.50%, 04/15/29 (Call 04/15/24)^(a)(b)	$	1,350	$	1,208,169
Weekley Homes LLC/Weekley Finance Corp., 4.88%, 09/15/28 (Call 09/15/23)^(a)		1,996		1,763,017


				45,421,559

Entertainment — 3.1%
Affinity Gaming, 6.88%, 12/15/27 (Call 12/01/23)^(a)(b)		2,407		2,254,492
Allen Media LLC/Allen Media Co-Issuer Inc., 10.50%, 02/15/28 (Call 02/15/23)^(a)(b)		3,325		3,000,812
AMC Entertainment Holdings Inc.
7.50%, 02/15/29 (Call 02/15/25)^(a)		4,685		4,286,775
10.00%, 06/15/26 (Call 06/15/23), (12.00% PIK)^(a)(b)		7,276		6,094,146
Banijay Entertainment SASU, 5.38%, 03/01/25 (Call 05/30/22)^(a)(b)		2,400		2,359,361
Boyne USA Inc., 4.75%, 05/15/29 (Call 05/15/24)^(a)(b)		3,455		3,204,512
Caesars Entertainment Inc.
4.63%, 10/15/29 (Call 10/15/24)^(a)(b)		5,375		4,609,062
6.25%, 07/01/25 (Call 07/01/22)^(a)		15,802		15,973,768
8.13%, 07/01/27 (Call 07/01/23)^(a)(b)		8,985		9,389,325
Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 07/01/22)^(a)(b)		4,698		4,797,832
CCM Merger Inc., 6.38%, 05/01/26 (Call 11/01/22)^(a)		910		907,725
CDI Escrow Issuer Inc., 5.75%, 04/01/30 (Call 04/01/25)^(a)		5,940		5,725,625
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(b)		2,903		2,746,964
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 05/31/22)		2,428		2,361,060
5.50%, 05/01/25 (Call 05/31/22)^(a)		4,577		4,599,885
6.50%, 10/01/28 (Call 10/01/23)^(b)		1,250		1,253,125
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)		2,792		2,614,108
5.50%, 04/01/27 (Call 05/31/22)^(a)		2,393		2,349,711
Cinemark USA Inc.
5.25%, 07/15/28 (Call 07/15/24)^(a)(b)		3,395		3,016,627
5.88%, 03/15/26 (Call 03/15/23)^(a)(b)		2,231		2,080,408
8.75%, 05/01/25 (Call 05/31/22)^(a)(b)		1,140		1,184,175
Empire Resorts Inc., 7.75%, 11/01/26 (Call 11/01/23)^(a)		1,320		1,270,645
Everi Holdings Inc., 5.00%, 07/15/29 (Call 07/15/24)^(a)		1,600		1,451,680
Golden Entertainment Inc., 7.63%, 04/15/26 (Call 05/31/22)^(a)		1,258		1,286,305
International Game Technology PLC
4.13%, 04/15/26 (Call 04/15/23)^(a)		3,710		3,498,602
5.25%, 01/15/29 (Call 01/15/24)^(a)(b)		3,475		3,295,586
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		3,515		3,569,026
6.50%, 02/15/25 (Call 08/15/24)^(a)		5,616		5,714,280
Jacobs Entertainment Inc., 6.75%, 02/15/29 (Call 02/15/25)^(a)		2,615		2,561,915
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		4,924		4,365,077
Live Nation Entertainment Inc.
3.75%, 01/15/28 (Call 01/15/24)^(a)		2,095		1,895,975
4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		4,263		4,005,088
4.88%, 11/01/24 (Call 05/31/22)^(a)		2,881		2,844,786
5.63%, 03/15/26 (Call 05/31/22)^(a)		1,323		1,306,463
6.50%, 05/15/27 (Call 05/15/23)^(a)(b)		6,331		6,567,146
Merlin Entertainments Ltd., 5.75%, 06/15/26 (Call 03/17/26)^(a)(b)		1,530		1,495,575
Midwest Gaming Borrower LLC, 4.88%, 05/01/29 (Call 05/01/24)^(a)		3,705		3,251,249


Security	Par (000)		Value

Entertainment (continued)
Mohegan Gaming & Entertainment
7.88%, 10/15/24 (Call 05/16/22)^(a)(b)	$	1,455	$	1,491,317
8.00%, 02/01/26 (Call 02/01/23)^(a)		5,713		5,070,287
Motion Bondco DAC, 6.63%, 11/15/27 (Call 11/15/22)^(a)(b)		2,035		1,867,113
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance Inc., 8.50%, 11/15/27 (Call 11/15/23)^(a)		3,168		3,472,999
Penn National Gaming Inc.
4.13%, 07/01/29 (Call 07/01/24)^(a)(b)		2,034		1,716,188
5.63%, 01/15/27 (Call 05/31/22)^(a)(b)		2,397		2,283,142
Powdr Corp., 6.00%, 08/01/25 (Call 08/01/22)^(a)(b)		725		734,063
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.
5.63%, 09/01/29 (Call 09/01/24)^(a)(b)		3,680		2,944,000
5.88%, 09/01/31 (Call 09/01/26)^(a)		3,730		2,937,375
Raptor Acquisition Corp./Raptor Co-Issuer LLC, 4.88%, 11/01/26 (Call 11/01/22)^(a)		1,885		1,786,754
Resorts World Las Vegas LLC, 4.63%, 04/06/31 (Call 01/06/31)^(a)(b)		1,500		1,282,237
Resorts World Las Vegas LLC/RWLV Capital Inc., 4.63%, 04/16/29 (Call 01/16/29)^(a)		4,710		4,103,056
Scientific Games Holdings LP/Scientific Games U.S. FinCo Inc., 6.63%, 03/01/30 (Call 03/01/25)^(a)(b)		3,730		3,543,500
Scientific Games International Inc.
7.00%, 05/15/28 (Call 05/15/23)^(a)(b)		3,171		3,246,430
7.25%, 11/15/29 (Call 11/15/24)^(a)		2,765		2,902,420
8.63%, 07/01/25 (Call 07/01/22)^(a)		2,832		2,966,520
SeaWorld Parks & Entertainment Inc., 5.25%, 08/15/29 (Call 08/15/24)^(a)(b)		3,113		2,832,581
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 05/31/22)^(a)(b)		4,313		4,295,748
5.50%, 04/15/27 (Call 05/31/22)^(a)(b)		1,908		1,869,859
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)^(a)(b)		3,844		3,992,955
Speedway Motorsports LLC/Speedway Funding II Inc., 4.88%, 11/01/27 (Call 11/01/22)^(a)		1,235		1,179,178
Vail Resorts Inc., 6.25%, 05/15/25 (Call 05/31/22)^(a)(b)		2,491		2,547,047
WMG Acquisition Corp.
3.00%, 02/15/31 (Call 02/15/26)^(a)(b)		3,785		3,157,788
3.75%, 12/01/29 (Call 12/01/24)^(a)(b)		2,375		2,128,594
3.88%, 07/15/30 (Call 07/15/25)^(a)(b)		2,376		2,126,520
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.13%, 10/01/29 (Call 07/01/29)^(a)(b)		3,446		3,017,387
7.75%, 04/15/25 (Call 05/31/22)^(a)		3,441		3,545,968


				206,229,922

Environmental Control — 0.7%
Clean Harbors Inc.
4.88%, 07/15/27 (Call 07/15/22)^(a)(b)		2,394		2,346,120
5.13%, 07/15/29 (Call 07/15/24)^(a)(b)		1,342		1,321,870
Covanta Holding Corp, 4.88%, 12/01/29 (Call 12/01/24)^(a)(b)		3,550		3,229,790
Covanta Holding Corp., 5.00%, 09/01/30 (Call 09/01/25)		1,784		1,610,060
GFL Environmental Inc.
3.50%, 09/01/28 (Call 03/01/28)^(a)(b)		3,372		3,001,080
3.75%, 08/01/25 (Call 08/01/22)^(a)(b)		3,644		3,452,690
4.00%, 08/01/28 (Call 08/01/23)^(a)(b)		3,817		3,358,960


Security	Par (000)		Value

Environmental Control (continued)
4.25%, 06/01/25 (Call 06/01/22)^(a)(b)	$	1,722	$	1,670,151
4.38%, 08/15/29 (Call 08/15/24)^(a)(b)		2,395		2,124,844
4.75%, 06/15/29 (Call 06/15/24)^(a)(b)		3,955		3,589,162
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		2,213		2,175,158
Harsco Corp., 5.75%, 07/31/27 (Call 07/31/22)^(a)(b)		2,620		2,358,000
Madison IAQ LLC
4.13%, 06/30/28 (Call 06/30/24)^(a)		3,090		2,711,475
5.88%, 06/30/29 (Call 06/30/24)^(a)		5,196		4,234,740
Stericycle Inc.
3.88%, 01/15/29 (Call 11/15/23)^(a)(b)		2,223		1,960,353
5.38%, 07/15/24 (Call 05/16/22)^(a)		2,402		2,393,737
Tervita Corp., 11.00%, 12/01/25 (Call 12/01/23)^(a)(b)		1,465		1,633,475
Waste Pro USA Inc., 5.50%, 02/15/26 (Call 05/31/22)^(a)		2,474		2,200,870


				45,372,535

Food — 1.9%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.25%, 03/15/26 (Call 09/15/22)^(a)		3,205		2,924,563
3.50%, 02/15/23 (Call 12/15/22)^(a)(b)		160		159,584
3.50%, 03/15/29 (Call 09/15/23)^(a)(b)		6,448		5,431,795
4.63%, 01/15/27 (Call 01/15/23)^(a)		6,905		6,467,741
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		5,312		4,807,652
5.88%, 02/15/28 (Call 08/15/22)^(a)(b)		3,179		3,087,604
7.50%, 03/15/26 (Call 05/31/22)^(a)		2,795		2,937,727
B&G Foods Inc.
5.25%, 04/01/25 (Call 05/31/22)^(b)		3,643		3,468,876
5.25%, 09/15/27 (Call 05/31/22)		3,036		2,782,506
C&S Group Enterprises LLC, 5.00%, 12/15/28 (Call 12/15/23)^(a)(b)		1,997		1,699,946
Chobani LLC/Chobani Finance Corp. Inc.
4.63%, 11/15/28 (Call 11/15/23)^(a)(b)		2,465		2,218,500
7.50%, 04/15/25 (Call 05/31/22)^(a)(b)		2,650		2,484,455
Del Monte Foods Inc., 11.88%, 05/15/25 (Call 05/16/22)^(a)		1,724		1,882,556
FAGE International SA/FAGE USA Dairy Industry Inc., 5.63%, 08/15/26 (Call 05/30/22)^(a)		1,342		1,249,280
Fresh Market Inc. (The), 9.75%, 05/01/23 (Call 05/31/22)^(a)		818		797,550
H-Food Holdings LLC/Hearthside Finance Co. Inc., 8.50%, 06/01/26 (Call 05/10/22)^(a)		1,924		1,803,750
Ingles Markets Inc., 4.00%, 06/15/31 (Call 06/15/26)^(a)		1,535		1,378,445
Lamb Weston Holdings Inc.
4.13%, 01/31/30 (Call 01/31/25)^(a)		4,555		4,064,791
4.38%, 01/31/32 (Call 01/31/27)^(a)(b)		3,260		2,912,028
4.88%, 05/15/28 (Call 11/15/27)^(a)(b)		2,690		2,616,025
Performance Food Group Inc.
4.25%, 08/01/29 (Call 08/01/24)^(a)(b)		5,210		4,630,283
5.50%, 10/15/27 (Call 10/15/22)^(a)(b)		5,261		5,105,406
6.88%, 05/01/25 (Call 05/31/22)^(a)		675		691,241
Pilgrim’s Pride Corp.
3.50%, 03/01/32 (Call 09/01/26)^(a)(b)		4,380		3,701,100
4.25%, 04/15/31 (Call 04/15/26)^(a)(b)		4,799		4,379,087
5.88%, 09/30/27 (Call 09/30/22)^(a)		4,112		4,142,038
Post Holdings Inc.
4.50%, 09/15/31 (Call 09/15/26)^(a)		9,355		7,779,618
4.63%, 04/15/30 (Call 04/15/25)^(a)		7,854		6,715,170
5.50%, 12/15/29 (Call 12/15/24)^(a)		5,793		5,271,630
5.63%, 01/15/28 (Call 12/01/22)^(a)		4,238		4,007,029
5.75%, 03/01/27 (Call 05/16/22)^(a)(b)		1,737		1,713,116
Safeway Inc., 7.25%, 02/01/31^(b)		1,557		1,621,117


Security	Par (000)		Value

Food (continued)
SEG Holding LLC/SEG Finance Corp., 5.63%, 10/15/28 (Call 10/15/23)^(a)	$	1,712	$	1,670,715
Sigma Holdco BV, 7.88%, 05/15/26 (Call 05/10/22)^(a)(b)		2,517		1,875,298
Simmons Foods Inc./Simmons Prepared Foods Inc./Simmons Pet Food Inc./Simmons Feed, 4.63%, 03/01/29 (Call 03/01/24)^(a)(b)		4,117		3,715,057
TreeHouse Foods Inc., 4.00%, 09/01/28 (Call 09/01/23)^(b)		2,338		1,905,049
U.S. Foods Inc.
4.63%, 06/01/30 (Call 06/01/25)^(a)		2,510		2,246,450
4.75%, 02/15/29 (Call 02/15/24)^(a)(b)		4,655		4,299,824
6.25%, 04/15/25 (Call 05/31/22)^(a)		4,339		4,457,498
United Natural Foods Inc., 6.75%, 10/15/28 (Call 10/15/23)^(a)		2,682		2,683,958


				127,786,058

Food Service — 0.3%
Aramark Services Inc.
5.00%, 04/01/25 (Call 05/31/22)^(a)(b)		2,220		2,200,575
5.00%, 02/01/28 (Call 02/01/23)^(a)		5,691		5,307,142
6.38%, 05/01/25 (Call 05/31/22)^(a)(b)		7,540		7,678,510
TKC Holdings Inc.
6.88%, 05/15/28 (Call 05/15/24)^(a)		1,925		1,838,375
10.50%, 05/15/29 (Call 05/15/24)^(a)		3,358		3,232,075


				20,256,677

Forest Products & Paper — 0.3%
Ahlstrom-Munksjo Holding 3 Oy, 4.88%, 02/04/28 (Call 02/04/24)^(a)(b)		1,625		1,433,411
Clearwater Paper Corp.
4.75%, 08/15/28 (Call 08/15/23)^(a)		1,660		1,458,708
5.38%, 02/01/25^(a)(b)		700		700,000
Domtar Corp.
6.25%, 09/01/42		124		87,869
6.75%, 10/01/28 (Call 10/01/24)^(a)(b)		2,967		2,941,039
Glatfelter Corp., 4.75%, 11/15/29 (Call 11/01/24)^(a)(b)		2,655		2,124,000
Mercer International Inc.
5.13%, 02/01/29 (Call 02/01/24)^(b)		3,896		3,619,033
5.50%, 01/15/26 (Call 05/31/22)		1,425		1,412,688
Resolute Forest Products Inc., 4.88%, 03/01/26 (Call 03/01/23)^(a)(b)		1,325		1,263,719
Sylvamo Corp., 7.00%, 09/01/29 (Call 09/01/24)^(a)		2,185		2,108,525


				17,148,992

Gas — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)		3,807		3,749,438
5.63%, 05/20/24 (Call 03/20/24)		3,208		3,203,669
5.75%, 05/20/27 (Call 02/20/27)^(b)		2,457		2,413,536
5.88%, 08/20/26 (Call 05/20/26)		3,324		3,282,018
Rockpoint Gas Storage Canada Ltd., 7.00%, 03/31/23 (Call 05/30/22)^(a)(b)		1,541		1,525,590


				14,174,251

Hand & Machine Tools — 0.0%
Werner FinCo LP/Werner FinCo Inc., 8.75%, 07/15/25 (Call 05/10/22)^(a)(b)		1,080		1,111,644


Health Care - Products — 0.8%
Avantor Funding Inc.
3.88%, 11/01/29 (Call 11/01/24)^(a)		4,020		3,606,865
4.63%, 07/15/28 (Call 07/15/23)^(a)(b)		7,260		6,906,365


Security	Par (000)		Value

Health Care - Products (continued)
Hologic Inc.
3.25%, 02/15/29 (Call 09/28/23)^(a)(b)	$	4,397	$	3,917,133
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		1,937		1,894,618
Mozart Debt Merger Sub Inc.
3.88%, 04/01/29 (Call 10/01/24)^(a)		21,705		18,964,961
5.25%, 10/01/29 (Call 10/01/24)^(a)(b)		11,990		10,431,300
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 7.25%, 02/01/28 (Call 02/01/23)^(a)		1,698		1,714,980
Teleflex Inc.
4.25%, 06/01/28 (Call 06/01/23)^(a)(b)		2,339		2,204,508
4.63%, 11/15/27 (Call 11/15/22)^(b)		1,747		1,712,060
Varex Imaging Corp., 7.88%, 10/15/27 (Call 10/15/23)^(a)(b)		1,304		1,343,120


				52,695,910

Health Care - Services — 5.7%
Acadia Healthcare Co. Inc.
5.00%, 04/15/29 (Call 10/15/23)^(a)		2,201		2,085,448
5.50%, 07/01/28 (Call 07/01/23)^(a)		1,997		1,944,798
AHP Health Partners Inc., 5.75%, 07/15/29 (Call 07/15/24)^(a)		1,450		1,308,625
Air Methods Corp., 8.00%, 05/15/25 (Call 05/31/22)^(a)(b)		1,217		994,898
Akumin Escrow Inc., 7.50%, 08/01/28 (Call 08/01/24)^(a)		1,865		1,480,344
Akumin Inc., 7.00%, 11/01/25 (Call 11/01/22)^(a)(b)		2,280		1,920,900
Cano Health LLC, 6.25%, 10/01/28 (Call 10/01/24)^(a)(b)		1,610		1,485,225
Catalent Pharma Solutions Inc.
3.13%, 02/15/29 (Call 02/15/24)^(a)(b)		2,507		2,175,424
3.50%, 04/01/30 (Call 04/01/25)^(a)		3,385		2,944,307
5.00%, 07/15/27 (Call 07/15/22)^(a)		1,995		1,932,656
Centene Corp.
2.45%, 07/15/28 (Call 05/15/28)^(b)		10,770		9,395,856
2.50%, 03/01/31 (Call 12/01/30)		11,260		9,359,875
2.63%, 08/01/31 (Call 05/01/31)^(b)		6,155		5,113,020
3.00%, 10/15/30 (Call 07/15/30)		10,647		9,262,890
3.38%, 02/15/30 (Call 02/15/25)^(b)		9,349		8,352,864
4.25%, 12/15/27 (Call 12/15/22)		11,294		10,955,180
4.63%, 12/15/29 (Call 12/15/24)		17,494		16,943,376
Charles River Laboratories International Inc.
3.75%, 03/15/29 (Call 03/15/24)^(a)(b)		2,310		2,090,550
4.00%, 03/15/31 (Call 03/15/26)^(a)(b)		2,783		2,484,689
4.25%, 05/01/28 (Call 05/01/23)^(a)(b)		2,169		2,070,376
CHS/Community Health Systems Inc.
4.75%, 02/15/31 (Call 02/15/26)^(a)(b)		5,028		4,261,230
5.25%, 05/15/30 (Call 05/15/25)^(a)		8,230		7,214,829
5.63%, 03/15/27 (Call 12/15/23)^(a)(b)		8,865		8,450,495
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		4,340		4,102,125
6.13%, 04/01/30 (Call 04/01/25)^(a)(b)		6,890		5,667,025
6.88%, 04/01/28 (Call 04/01/23)^(a)(b)		3,527		2,767,813
6.88%, 04/15/29 (Call 04/15/24)^(a)(b)		8,580		7,524,832
8.00%, 03/15/26 (Call 05/31/22)^(a)(b)		10,629		10,988,260
8.00%, 12/15/27 (Call 12/15/22)^(a)		3,211		3,326,468
DaVita Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)		7,205		5,872,075
4.63%, 06/01/30 (Call 06/01/25)^(a)		13,623		11,852,010
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)^(b)		4,140		3,827,554
4.63%, 04/01/31 (Call 04/01/26)		2,070		1,826,775
4.75%, 02/01/30 (Call 02/01/25)^(b)		4,215		3,809,306
5.75%, 09/15/25 (Call 05/31/22)^(b)		801		815,018


Security	Par (000)		Value

Health Care - Services (continued)
Global Medical Response Inc., 6.50%, 10/01/25 (Call 05/04/22)^(a)(b)	$	3,351	$	3,246,281
Hadrian Merger Sub Inc., 8.50%, 05/01/26 (Call 05/31/22)^(a)(b)		1,971		1,946,363
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)		12,815		11,480,061
5.38%, 02/01/25^(b)		12,375		12,730,781
5.38%, 09/01/26 (Call 03/01/26)^(b)		4,897		5,012,104
5.63%, 09/01/28 (Call 03/01/28)		8,135		8,407,034
5.88%, 05/01/23^(b)		4,832		4,984,208
5.88%, 02/15/26 (Call 08/15/25)^(b)		7,310		7,569,505
5.88%, 02/01/29 (Call 08/01/28)		4,674		4,868,651
7.50%, 11/06/33^(b)		1,215		1,424,588
7.69%, 06/15/25		859		929,868
IQVIA Inc.
5.00%, 10/15/26 (Call 05/31/22)^(a)		5,371		5,344,148
5.00%, 05/15/27 (Call 05/31/22)^(a)(b)		4,538		4,496,341
Legacy LifePoint Health LLC
4.38%, 02/15/27 (Call 05/31/22)^(a)		2,852		2,638,100
6.75%, 04/15/25 (Call 05/31/22)^(a)(b)		2,435		2,483,700
Lifepoint Health Inc., 5.38%, 01/15/29 (Call 01/15/24)^(a)(b)		2,740		2,342,700
MEDNAX Inc., 5.38%, 02/15/30 (Call 02/15/25)^(a)(b)		1,980		1,844,865
ModivCare Escrow Issuer Inc., 5.00%, 10/01/29 (Call 10/01/24)^(a)(b)		2,480		2,170,000
ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/22)^(a)(b)		2,822		2,765,560
Molina Healthcare Inc.
3.88%, 11/15/30 (Call 08/17/30)^(a)(b)		2,938		2,650,047
3.88%, 05/15/32 (Call 02/15/32)^(a)(b)		3,550		3,116,829
4.38%, 06/15/28 (Call 06/15/23)^(a)		4,085		3,818,004
Oscar AcquisitionCo LLC/Oscar Finance Inc., 9.50%, 04/15/30		2,280		2,080,249
Prime Healthcare Services Inc., 7.25%, 11/01/25 (Call 11/01/22)^(a)		4,805		4,817,012
Quorum Health Corp., 11.63%, 04/15/23^(h)		1,183		—
Radiology Partners Inc., 9.25%, 02/01/28 (Call 02/01/23)^(a)(b)		3,451		3,278,450
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 05/31/22)^(a)		6,819		7,007,000
RP Escrow Issuer LLC, 5.25%, 12/15/25 (Call 12/15/22)^(a)(b)		4,024		3,742,320
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)		5,977		5,932,172
Surgery Center Holdings Inc.
6.75%, 07/01/25 (Call 05/31/22)^(a)(b)		1,973		1,936,006
10.00%, 04/15/27 (Call 05/31/22)^(a)(b)		2,827		2,954,215
Syneos Health Inc., 3.63%, 01/15/29 (Call 01/15/24)^(a)(b)		2,905		2,569,908
Tenet Healthcare Corp.
4.25%, 06/01/29 (Call 06/01/24)^(a)(b)		7,175		6,482,541
4.38%, 01/15/30 (Call 12/01/24)^(a)		7,545		6,864,969
4.63%, 07/15/24 (Call 05/31/22)^(b)		3,028		3,019,764
4.63%, 09/01/24 (Call 05/16/22)^(a)		1,907		1,890,314
4.63%, 06/15/28 (Call 06/15/23)^(a)(b)		2,733		2,575,852
4.88%, 01/01/26 (Call 05/31/22)^(a)		9,665		9,463,726
5.13%, 11/01/27 (Call 11/01/22)^(a)		7,062		6,856,955
6.13%, 10/01/28 (Call 10/01/23)^(a)(b)		12,360		11,864,982
6.25%, 02/01/27 (Call 05/31/22)^(a)		6,824		6,772,820
6.75%, 06/15/23		8,659		8,907,557
6.88%, 11/15/31		1,633		1,691,919


Security	Par (000)		Value

Health Care - Services (continued)
U.S. Acute Care Solutions LLC, 6.38%, 03/01/26 (Call 03/01/23)^(a)	$	3,715	$	3,608,194
US Renal Care Inc., 10.63%, 07/15/27 (Call 07/15/22)^(a)		2,599		2,241,637


				379,435,416

Holding Companies - Diversified — 0.6%
Compass Group Diversified Holdings LLC
5.00%, 01/15/32 (Call 01/15/27)^(a)		1,440		1,224,000
5.25%, 04/15/29 (Call 04/15/24)^(a)		4,817		4,323,257
FS Energy & Power Fund, 7.50%, 08/15/23 (Call 05/15/23)^(a)(b)		1,549		1,574,171
Hightower Holding LLC, 6.75%, 04/15/29 (Call 04/15/24)^(a)		1,375		1,266,788
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.38%, 02/01/29 (Call 08/01/28)		3,570		3,079,946
4.75%, 09/15/24 (Call 06/15/24)		6,041		5,889,975
5.25%, 05/15/27 (Call 11/15/26)		6,924		6,468,193
6.25%, 05/15/26 (Call 05/31/22)^(b)		6,435		6,379,788
6.38%, 12/15/25 (Call 05/31/22)		2,891		2,869,318
Stena AB, 7.00%, 02/01/24^(a)(b)		1,806		1,792,961
Stena International SA
5.75%, 03/01/24^(a)		1,689		1,653,288
6.13%, 02/01/25 (Call 05/10/22)^(a)		1,250		1,239,307


				37,760,992

Home Builders — 1.1%
Ashton Woods USA LLC/Ashton Woods Finance Co.
4.63%, 08/01/29 (Call 08/01/24)^(a)		1,665		1,401,006
4.63%, 04/01/30 (Call 04/01/25)^(a)		1,800		1,473,750
6.63%, 01/15/28 (Call 01/15/23)^(a)(b)		1,300		1,264,029
Beazer Homes USA Inc.
5.88%, 10/15/27 (Call 10/15/22)^(b)		1,614		1,488,915
7.25%, 10/15/29 (Call 10/15/24)^(b)		1,910		1,819,256
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		2,529		2,111,715
5.00%, 06/15/29 (Call 06/15/24)^(a)		1,966		1,738,819
6.25%, 09/15/27 (Call 09/15/22)^(a)		2,864		2,687,005
Century Communities Inc.
3.88%, 08/15/29 (Call 02/15/29)^(a)(b)		2,340		1,971,661
6.75%, 06/01/27 (Call 06/01/22)^(b)		2,251		2,275,784
Empire Communities Corp., 7.00%, 12/15/25 (Call 12/15/22)^(a)		2,297		2,176,407
Forestar Group Inc.
3.85%, 05/15/26 (Call 05/15/23)^(a)(b)		2,260		2,034,000
5.00%, 03/01/28 (Call 03/01/23)^(a)(b)		1,377		1,244,133
Installed Building Products Inc., 5.75%, 02/01/28 (Call 02/01/23)^(a)(b)		1,396		1,322,587
K Hovnanian Enterprises Inc., 10.50%, 02/15/26 (Call 05/31/22)^(a)		55		56,100
KB Home
4.00%, 06/15/31 (Call 12/15/30)^(b)		1,710		1,462,050
4.80%, 11/15/29 (Call 05/15/29)^(b)		1,789		1,630,763
6.88%, 06/15/27 (Call 12/15/26)^(b)		1,818		1,887,195
7.63%, 05/15/23 (Call 11/15/22)		875		896,875
LGI Homes Inc., 4.00%, 07/15/29 (Call 01/15/29)^(a)(b)		1,660		1,373,044
M/I Homes Inc.
3.95%, 02/15/30 (Call 08/15/29)^(b)		1,575		1,295,373
4.95%, 02/01/28 (Call 02/01/23)		1,877		1,729,543


Security	Par (000)		Value

Home Builders (continued)
Mattamy Group Corp.
4.63%, 03/01/30 (Call 03/01/25)^(a)(b)	$	3,051	$	2,595,895
5.25%, 12/15/27 (Call 12/15/22)^(a)(b)		2,656		2,483,360
Meritage Homes Corp.
3.88%, 04/15/29 (Call 10/15/28)^(a)(b)		2,035		1,820,816
5.13%, 06/06/27 (Call 12/06/26)^(b)		1,403		1,371,433
6.00%, 06/01/25 (Call 03/01/25)		2,182		2,220,164
New Home Co. Inc. (The), 7.25%, 10/15/25 (Call 10/15/22)^(a)		1,670		1,578,150
Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/22)^(a)(b)		2,038		2,075,907
Shea Homes LP/Shea Homes Funding Corp.
4.75%, 02/15/28 (Call 02/15/23)^(a)		2,013		1,801,635
4.75%, 04/01/29 (Call 04/01/24)^(a)(b)		1,871		1,619,343
Taylor Morrison Communities Inc.
5.13%, 08/01/30 (Call 02/01/30)^(a)		2,285		2,085,062
5.75%, 01/15/28 (Call 10/15/27)^(a)(b)		2,554		2,496,535
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		2,776		2,755,680
6.63%, 07/15/27 (Call 07/15/22)^(a)		923		923,243
Taylor Morrison Communities Inc./Taylor Morrison Holdings II Inc.
5.63%, 03/01/24 (Call 12/01/23)^(a)		1,567		1,574,835
5.88%, 04/15/23 (Call 01/15/23)^(a)		467		472,254
Thor Industries Inc., 4.00%, 10/15/29 (Call 10/15/24)^(a)		2,430		2,053,617
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(b)		2,428		2,465,148
Tri Pointe Homes Inc.
5.25%, 06/01/27 (Call 12/01/26)		1,632		1,576,887
5.70%, 06/15/28 (Call 12/15/27)		1,617		1,549,523
Williams Scotsman International Inc., 4.63%, 08/15/28 (Call 08/15/23)^(a)(b)		1,925		1,821,916
Winnebago Industries Inc., 6.25%, 07/15/28 (Call 07/15/23)^(a)		1,475		1,463,937


				74,145,350

Home Furnishings — 0.1%
Tempur Sealy International Inc.
3.88%, 10/15/31 (Call 10/15/26)^(a)(b)		4,000		3,314,320
4.00%, 04/15/29 (Call 04/15/24)^(a)		3,735		3,235,481


				6,549,801
Household Products & Wares — 0.3%
ACCO Brands Corp., 4.25%, 03/15/29 (Call 03/15/24)^(a)		3,089		2,687,430
Central Garden & Pet Co.
4.13%, 10/15/30 (Call 10/15/25)^(b)		2,341		2,023,631
4.13%, 04/30/31 (Call 04/30/26)^(a)(b)		1,969		1,688,417
5.13%, 02/01/28 (Call 01/01/23)^(b)		1,056		1,019,040
Kronos Acquisition Holdings Inc./KIK Custom Products Inc.
5.00%, 12/31/26 (Call 06/30/23)^(a)(b)		2,070		1,831,950
7.00%, 12/31/27 (Call 12/31/23)^(a)		2,885		2,279,150
Spectrum Brands Inc.
3.88%, 03/15/31 (Call 03/15/26)^(a)(b)		2,518		2,108,825
5.00%, 10/01/29 (Call 10/01/24)^(a)(b)		1,471		1,368,030
5.50%, 07/15/30 (Call 07/15/25)^(a)		1,294		1,204,203
5.75%, 07/15/25 (Call 05/31/22)		1,465		1,479,650


				17,690,326

Housewares — 0.5%
American Greetings Corp., 8.75%, 04/15/25 (Call 05/31/22)^(a)		1,559		1,539,513


Security	Par (000)		Value

Housewares (continued)
CD&R Smokey Buyer Inc., 6.75%, 07/15/25 (Call 07/15/22)^(a)(b)	$	3,405	$	3,465,439
Newell Brands Inc.
4.10%, 04/01/23 (Call 02/01/23)^(b)		4,561		4,563,851
4.45%, 04/01/26 (Call 01/01/26)^(b)		10,039		9,953,066
4.88%, 06/01/25 (Call 05/01/25)^(b)		2,145		2,172,831
5.63%, 04/01/36 (Call 10/01/35)		2,198		2,100,804
5.75%, 04/01/46 (Call 10/01/45)		3,027		2,818,894
Scotts Miracle-Gro Co. (The)
4.00%, 04/01/31 (Call 04/01/26)		2,412		1,983,870
4.38%, 02/01/32 (Call 08/01/26)		2,045		1,707,575
4.50%, 10/15/29 (Call 10/15/24)^(b)		2,431		2,133,202
5.25%, 12/15/26 (Call 05/16/22)		224		221,760
SWF Escrow Issuer Corp., 6.50%, 10/01/29 (Call 10/01/24)^(a)(b)		3,230		2,495,175


				35,155,980

Insurance — 1.2%
Acrisure LLC/Acrisure Finance Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)(b)		2,931		2,560,815
6.00%, 08/01/29 (Call 08/01/24)^(a)(b)		2,770		2,420,287
7.00%, 11/15/25 (Call 05/31/22)^(a)(b)		4,692		4,567,897
10.13%, 08/01/26 (Call 08/01/22)^(a)(b)		1,872		1,946,880
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.25%, 10/15/27 (Call 10/15/23)^(a)(b)		3,154		2,912,877
5.88%, 11/01/29 (Call 11/01/24)^(a)(b)		2,210		2,060,825
6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		6,946		6,568,346
AmWINS Group Inc., 4.88%, 06/30/29 (Call 06/30/24)^(a)(b)		3,805		3,482,831
Assurant Inc., 7.00%, 03/27/48 (Call 03/27/28)^(d)		1,588		1,639,546
AssuredPartners Inc.
5.63%, 01/15/29 (Call 12/15/23)^(a)(b)		2,527		2,222,395
7.00%, 08/15/25 (Call 05/31/22)^(a)(b)		2,795		2,756,317
BroadStreet Partners Inc., 5.88%, 04/15/29 (Call 04/15/24)^(a)(b)		3,540		3,070,950
Enstar Finance LLC
5.50%, 01/15/42 (Call 01/15/27)^(d)		2,375		2,208,750
5.75%, 09/01/40 (Call 09/01/25)^(b)(d)		1,280		1,259,026
Genworth Holdings Inc.
4.80%, 02/15/24^(b)		644		645,146
6.50%, 06/15/34		1,395		1,300,698
Global Atlantic Fin Co., 4.70%, 10/15/51 (Call 07/15/26)^(a)(b)(d)		3,710		3,366,825
GTCR AP Finance Inc., 8.00%, 05/15/27 (Call 05/31/22)^(a)(b)		2,572		2,562,239
HUB International Ltd.
5.63%, 12/01/29 (Call 12/01/24)^(a)(b)		2,600		2,385,500
7.00%, 05/01/26 (Call 05/10/22)^(a)		7,892		7,822,314
Liberty Mutual Group Inc.
4.13%, 12/15/51 (Call 09/15/26)^(a)(d)		2,375		2,155,313
4.30%, 02/01/61 (Call 02/01/26)^(a)		4,035		3,046,102
7.80%, 03/07/87^(a)(b)		1,777		2,270,117
MGIC Investment Corp., 5.25%, 08/15/28 (Call 08/15/23)^(b)		3,269		3,068,905
NMI Holdings Inc., 7.38%, 06/01/25 (Call 03/30/25)^(a)		2,079		2,167,358
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)^(b)		2,341		2,279,549
4.88%, 03/15/27 (Call 09/15/26)		2,824		2,725,216
6.63%, 03/15/25 (Call 09/15/24)^(b)		2,608		2,654,960


Security	Par (000)		Value

Insurance (continued)
Ryan Specialty Group LLC, 4.38%, 02/01/30 (Call 02/01/25)^(a)	$	1,810	$	1,650,774
USI Inc./NY, 6.88%, 05/01/25 (Call 05/31/22)^(a)		2,533		2,494,321


				82,273,079

Internet — 1.4%
Acuris Finance Us Inc./Acuris Finance SARL, 5.00%, 05/01/28 (Call 05/01/24)^(a)		1,700		1,555,500
ANGI Group LLC, 3.88%, 08/15/28 (Call 08/15/23)^(a)(b)		2,475		1,959,903
Arches Buyer Inc.
4.25%, 06/01/28 (Call 12/01/23)^(a)		4,890		4,345,890
6.13%, 12/01/28 (Call 12/01/23)^(a)(b)		2,180		1,896,600
Cablevision Lightpath LLC
3.88%, 09/15/27 (Call 09/15/23)^(a)(b)		2,091		1,838,784
5.63%, 09/15/28 (Call 09/15/23)^(a)(b)		1,865		1,598,081
Cars.com Inc., 6.38%, 11/01/28 (Call 11/01/23)^(a)		1,799		1,685,699
Cogent Communications Group Inc., 3.50%, 05/01/26 (Call 02/01/26)^(a)(b)		2,380		2,247,029
Endurance International Group Holdings Inc., 6.00%, 02/15/29 (Call 02/15/24)^(a)(b)		3,541		2,866,015
Getty Images Inc., 9.75%, 03/01/27 (Call 05/16/22)^(a)		913		943,814
Go Daddy Operating Co. LLC/GD Finance Co. Inc.
3.50%, 03/01/29 (Call 03/01/24)^(a)(b)		4,045		3,589,492
5.25%, 12/01/27 (Call 06/01/22)^(a)		2,473		2,446,505
GrubHub Holdings Inc., 5.50%, 07/01/27 (Call 07/01/22)^(a)(b)		2,565		2,193,075
ION Trading Technologies Sarl, 5.75%, 05/15/28 (Call 05/15/24)^(a)		2,435		2,279,769
Match Group Holdings II LLC
3.63%, 10/01/31 (Call 10/01/26)^(a)(b)		2,250		1,871,775
4.13%, 08/01/30 (Call 05/01/25)^(a)(b)		2,770		2,475,687
4.63%, 06/01/28 (Call 06/01/23)^(a)(b)		2,424		2,259,580
5.00%, 12/15/27 (Call 12/15/22)^(a)(b)		1,702		1,659,450
5.63%, 02/15/29 (Call 02/15/24)^(a)(b)		1,574		1,518,910
Millennium Escrow Corp., 6.63%, 08/01/26 (Call 08/01/23)^(a)(b)		3,979		3,676,596
Northwest Fiber LLC/Northwest Fiber Finance Sub Inc.
4.75%, 04/30/27 (Call 10/15/23)^(a)		1,645		1,496,424
6.00%, 02/15/28 (Call 02/15/24)^(a)(b)		1,515		1,267,601
10.75%, 06/01/28 (Call 06/01/23)^(a)		1,355		1,388,875
NortonLifeLock Inc., 5.00%, 04/15/25 (Call 05/10/22)^(a)		5,049		5,042,992
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)^(a)(b)		4,049		3,745,325
Rakuten Group Inc.
5.13%, (Call 04/22/26)^(a)(b)(d)(e)		3,550		3,257,125
6.25%, (Call 04/22/31)^(a)(b)(d)(e)		4,825		4,547,562
TripAdvisor Inc., 7.00%, 07/15/25 (Call 07/15/22)^(a)(b)		1,818		1,863,450
Twitter Inc.
3.88%, 12/15/27 (Call 09/15/27)^(a)		3,098		3,036,985
5.00%, 03/01/30 (Call 12/01/29)^(a)		5,045		5,152,358
Uber Technologies Inc.
4.50%, 08/15/29 (Call 08/15/24)^(a)(b)		7,405		6,377,630
6.25%, 01/15/28 (Call 09/15/23)^(a)(b)		2,379		2,355,210
7.50%, 05/15/25 (Call 05/31/22)^(a)		5,236		5,406,222
7.50%, 09/15/27 (Call 09/15/22)^(a)(b)		5,321		5,475,149


				95,321,062

Iron & Steel — 0.7%
Allegheny Technologies Inc.
4.88%, 10/01/29 (Call 10/01/24)		1,764		1,605,081
5.13%, 10/01/31 (Call 10/01/26)		1,585		1,431,715


Security	Par (000)		Value

Iron & Steel (continued)
5.88%, 12/01/27 (Call 12/01/22)^(b)	$	2,025	$	1,954,125
Baffinland Iron Mines Corp./Baffinland Iron Mines LP, 8.75%, 07/15/26 (Call 05/30/22)^(a)		3,386		3,441,023
Big River Steel LLC/BRS Finance Corp., 6.63%, 01/31/29 (Call 09/15/23)^(a)		3,834		3,920,265
Carpenter Technology Corp.
6.38%, 07/15/28 (Call 07/15/23)^(b)		1,987		1,979,767
7.63%, 03/15/30 (Call 03/15/25)		1,480		1,506,969
Cleveland-Cliffs Inc.
4.63%, 03/01/29 (Call 03/01/24)^(a)		2,625		2,460,386
4.88%, 03/01/31 (Call 03/01/26)^(a)(b)		2,445		2,261,625
5.88%, 06/01/27 (Call 06/01/22)^(b)		2,571		2,558,145
6.25%, 10/01/40^(b)		1,221		1,181,745
6.75%, 03/15/26 (Call 05/31/22)^(a)		3,883		4,069,772
Commercial Metals Co.
3.88%, 02/15/31 (Call 02/15/26)^(b)		1,620		1,427,657
4.13%, 01/15/30 (Call 01/15/25)		1,530		1,392,300
4.38%, 03/15/32 (Call 03/15/27)		1,590		1,419,075
4.88%, 05/15/23 (Call 02/15/23)^(b)		429		431,145
Infrabuild Australia Pty Ltd., 12.00%, 10/01/24 (Call 05/30/22)^(a)(b)		1,300		1,313,000
Mineral Resources Ltd.
8.00%, 11/01/27^(a)		1,185		1,180,556
8.13%, 05/01/27 (Call 05/31/22)^(a)(b)		3,633		3,688,331
8.50%, 05/01/30^(a)		1,710		1,688,625
TMS International Corp./DE, 6.25%, 04/15/29 (Call 04/15/24)^(a)		2,024		1,760,880
United States Steel Corp.
6.65%, 06/01/37^(b)		1,784		1,747,410
6.88%, 03/01/29 (Call 03/01/24)^(b)		3,642		3,705,116


				48,124,713

Leisure Time — 2.0%
Carnival Corp.
4.00%, 08/01/28 (Call 05/01/28)^(a)(b)		12,295		11,067,221
5.75%, 03/01/27 (Call 12/01/26)^(a)(b)		16,660		15,085,880
6.00%, 05/01/29 (Call 11/01/24)^(a)(b)		9,605		8,620,487
7.63%, 03/01/26 (Call 03/01/24)^(a)		6,663		6,521,411
9.88%, 08/01/27 (Call 02/01/24)^(a)(b)		4,103		4,421,988
10.50%, 02/01/26 (Call 08/01/23)^(a)(b)		3,831		4,214,100
Constellation Merger Sub Inc., 8.50%, 09/15/25 (Call 05/31/22)^(a)(b)		2,219		2,063,670
Life Time Inc.
5.75%, 01/15/26 (Call 01/15/23)^(a)		4,090		3,968,527
8.00%, 04/15/26 (Call 02/01/23)^(a)(b)		2,650		2,587,314
Lindblad Expeditions LLC, 6.75%, 02/15/27 (Call 02/15/24)^(a)		1,860		1,825,125
MajorDrive Holdings IV LLC, 6.38%, 06/01/29 (Call 06/01/24)^(a)(b)		2,745		2,175,413
NCL Corp. Ltd.
3.63%, 12/15/24 (Call 05/10/22)^(a)		2,837		2,638,410
5.88%, 03/15/26 (Call 12/15/25)^(a)		6,764		6,248,651
5.88%, 02/15/27 (Call 02/15/24)^(a)		4,780		4,556,487
7.75%, 02/15/29 (Call 11/15/28)^(a)		3,075		2,982,750
NCL Finance Ltd., 6.13%, 03/15/28 (Call 12/15/27)^(a)(b)		2,452		2,206,800
Royal Caribbean Cruises Ltd, 5.38%, 07/15/27 (Call 10/15/26)^(a)(b)		4,975		4,571,751
Royal Caribbean Cruises Ltd.
3.70%, 03/15/28 (Call 12/15/27)^(b)		2,636		2,207,123
4.25%, 07/01/26 (Call 01/01/26)^(a)(b)		3,315		3,000,721
5.50%, 08/31/26 (Call 02/28/26)^(a)(b)		5,125		4,775,449


Security	Par (000)		Value

Leisure Time (continued)
5.50%, 04/01/28 (Call 10/01/27)^(a)(b)	$	7,015	$	6,401,188
7.50%, 10/15/27^(b)		1,416		1,439,286
9.13%, 06/15/23 (Call 03/15/23)^(a)(b)		4,361		4,502,013
10.88%, 06/01/23 (Call 03/01/23)^(a)		4,050		4,237,313
11.50%, 06/01/25 (Call 06/01/22)^(a)		6,761		7,350,559
Viking Cruises Ltd.
5.88%, 09/15/27 (Call 09/15/22)^(a)		4,020		3,405,543
6.25%, 05/15/25 (Call 05/30/22)^(a)(b)		1,052		962,580
7.00%, 02/15/29 (Call 02/15/24)^(a)(b)		2,667		2,373,630
13.00%, 05/15/25 (Call 05/16/22)^(a)		2,583		2,826,835
Viking Ocrean Cruises shi, 5.63%, 02/15/29 (Call 02/15/24)^(a)		1,920		1,694,400
Vista Outdoor Inc., 4.50%, 03/15/29 (Call 03/15/24)^(a)(b)		2,635		2,358,325
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)		3,277		2,957,493


				136,248,443

Lodging — 1.6%
Arrow Bidco LLC, 9.50%, 03/15/24 (Call 05/31/22)^(a)		1,772		1,797,995
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)^(b)		4,845		4,579,203
4.75%, 06/15/31 (Call 06/15/26)^(a)(b)		4,075		3,685,022
8.63%, 06/01/25 (Call 06/01/22)^(a)		1,489		1,552,268
Full House Resorts Inc., 8.25%, 02/15/28 (Call 02/15/24)^(a)(b)		2,119		2,098,213
Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)^(a)		2,630		2,403,726
Hilton Domestic Operating Co. Inc.
3.63%, 02/15/32 (Call 08/15/26)^(a)		6,855		5,805,294
3.75%, 05/01/29 (Call 05/01/24)^(a)(b)		4,189		3,795,318
4.00%, 05/01/31 (Call 05/01/26)^(a)(b)		5,855		5,236,419
4.88%, 01/15/30 (Call 01/15/25)^(b)		5,086		4,906,464
5.38%, 05/01/25 (Call 05/10/22)^(a)(b)		1,715		1,749,832
5.75%, 05/01/28 (Call 05/01/23)^(a)(b)		2,834		2,874,385
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc
4.88%, 07/01/31 (Call 07/01/26)^(a)		2,555		2,231,282
5.00%, 06/01/29 (Call 06/01/24)^(a)(b)		3,920		3,537,800
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 05/16/22)		2,186		2,164,140
Marriott Ownership Resorts Inc.
4.50%, 06/15/29 (Call 06/15/24)^(a)		2,140		1,883,200
4.75%, 01/15/28 (Call 09/15/22)		1,781		1,638,520
6.13%, 09/15/25 (Call 05/31/22)^(a)(b)		630		644,963
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		1,861		1,752,187
4.75%, 10/15/28 (Call 07/15/28)^(b)		3,172		2,913,641
5.50%, 04/15/27 (Call 01/15/27)^(b)		2,944		2,867,485
5.75%, 06/15/25 (Call 03/15/25)		2,975		2,955,543
6.00%, 03/15/23^(b)		4,906		4,961,192
6.75%, 05/01/25 (Call 05/31/22)^(b)		3,555		3,639,094
Station Casinos LLC
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		3,150		2,859,176
4.63%, 12/01/31 (Call 06/01/31)^(a)		2,740		2,296,271
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., 5.88%, 05/15/25 (Call 05/31/22)^(a)		1,012		991,760
Travel + Leisure Co.
3.90%, 03/01/23 (Call 12/01/22)^(b)		119		119,000
4.50%, 12/01/29 (Call 09/01/29)^(a)		3,145		2,783,325
4.63%, 03/01/30 (Call 12/01/29)^(a)		1,608		1,431,120


Security	Par (000)		Value

Lodging (continued)
5.65%, 04/01/24 (Call 02/01/24)	$	838	$	844,285
6.00%, 04/01/27 (Call 01/01/27)		2,494		2,512,755
6.60%, 10/01/25 (Call 07/01/25)^(b)		1,768		1,834,300
6.63%, 07/31/26 (Call 04/30/26)^(a)		3,223		3,299,643
Universal Entertainment Corp., 8.50%, 12/11/24 (Call 12/11/23)^(a)(b)		3,280		3,303,766
Wyndham Hotels & Resorts Inc., 4.38%, 08/15/28 (Call 08/15/23)^(a)(b)		1,948		1,815,614
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)		1,402		1,373,960
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		4,035		3,710,868
5.50%, 03/01/25 (Call 12/01/24)^(a)		9,187		8,888,422


				109,737,451

Machinery — 0.7%
ATS Automation Tooling Systems Inc., 4.13%, 12/15/28 (Call 12/15/23)^(a)(b)		1,825		1,647,062
BWX Technologies Inc.
4.13%, 06/30/28 (Call 06/30/23)^(a)		1,709		1,585,098
4.13%, 04/15/29 (Call 04/15/24)^(a)(b)		1,590		1,470,750
Clark Equipment Co., 5.88%, 06/01/25 (Call 06/01/22)^(a)(b)		820		830,381
GrafTech Finance Inc., 4.63%, 12/15/28 (Call 12/15/23)^(a)(b)		2,585		2,359,459
Granite US Holdings Corp., 11.00%, 10/01/27 (Call 10/01/22)^(a)		1,545		1,595,213
Husky III Holding Ltd. , 13.00%, 02/15/25 (Call 05/10/22), (13.75% PIK)^(a)(b)(c)		2,252		2,308,300
Manitowoc Co. Inc. (The), 9.00%, 04/01/26 (Call 05/16/22)^(a)		1,014		1,049,196
Maxim Crane Works Holdings Capital LLC, 10.13%, 08/01/24 (Call 05/31/22)^(a)		1,357		1,346,823
Mueller Water Products Inc., 4.00%, 06/15/29 (Call 06/15/24)^(a)(b)		1,925		1,722,875
OT Merger Corp., 7.88%, 10/15/29 (Call 10/15/24)^(a)		1,470		1,249,500
SPX FLOW Inc., 8.75%, 04/01/30 (Call 04/01/25)^(a)(b)		2,470		2,225,050
Stevens Holding Co. Inc., 6.13%, 10/01/26 (Call 10/01/23)^(a)(b)		1,955		1,959,887
Terex Corp., 5.00%, 05/15/29 (Call 05/15/24)^(a)(b)		2,571		2,362,595
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 05/30/22)^(a)		3,439		3,318,635
TK Elevator Holdco GmbH, 7.63%, 07/15/28 (Call 07/15/23)^(a)		2,056		1,978,592
TK Elevator U.S. Newco Inc., 5.25%, 07/15/27 (Call 07/15/23)^(a)		7,646		7,162,926
Vertiv Group Corp., 4.13%, 11/15/28 (Call 11/15/24)^(a)		4,025		3,506,781
Weir Group PLC (The), 2.20%, 05/13/26 (Call 04/13/26)^(a)		3,250		2,940,665
Welbilt Inc., 9.50%, 02/15/24 (Call 05/31/22)^(b)		1,590		1,595,962


				44,215,750

Manufacturing — 0.3%
Amsted Industries Inc.
4.63%, 05/15/30 (Call 05/15/25)^(a)		1,751		1,610,920
5.63%, 07/01/27 (Call 07/01/22)^(a)(b)		1,355		1,344,837
EnPro Industries Inc., 5.75%, 10/15/26 (Call 05/31/22)^(b)		982		982,000
FXI Holdings Inc.
7.88%, 11/01/24 (Call 05/31/22)^(a)(b)		2,504		2,468,143
12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		3,974		4,232,310


Security	Par (000)		Value

Manufacturing (continued)
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 (Call 05/31/22)^(a)(b)	$	2,261	$	2,204,475
Hillenbrand Inc.
3.75%, 03/01/31 (Call 03/01/26)^(b)		1,261		1,112,832
5.00%, 09/15/26 (Call 07/15/26)		2,117		2,085,245
5.75%, 06/15/25 (Call 06/15/22)^(b)		1,554		1,565,655
LSB Industries Inc., 6.25%, 10/15/28 (Call 10/15/24)^(a)		3,455		3,385,693
Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24)		1,897		1,885,144


				22,877,254

Media — 7.7%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)^(a)(b)		5,856		4,888,179
5.75%, 08/15/29 (Call 08/15/24)^(a)		9,835		8,286,086
AMC Networks Inc.
4.25%, 02/15/29 (Call 02/15/24)		4,662		4,058,085
4.75%, 08/01/25 (Call 05/31/22)^(b)		3,940		3,804,563
5.00%, 04/01/24 (Call 05/31/22)^(b)		1,048		1,037,499
Audacy Capital Corp.
6.50%, 05/01/27 (Call 05/16/22)^(a)(b)		2,294		1,972,840
6.75%, 03/31/29 (Call 03/31/24)^(a)		2,826		2,447,683
Beasley Mezzanine Holdings LLC, 8.63%, 02/01/26 (Call 02/01/23)^(a)(b)		1,750		1,631,875
Block Communications Inc., 4.88%, 03/01/28 (Call 03/01/23)^(a)		1,108		1,035,980
Cable One Inc., 4.00%, 11/15/30 (Call 11/15/25)^(a)(b)		3,129		2,684,713
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 05/16/22)^(a)(b)		786		786,000
4.25%, 02/01/31 (Call 07/01/25)^(a)(b)		14,700		12,389,160
4.25%, 01/15/34 (Call 01/15/28)^(a)(b)		9,475		7,532,625
4.50%, 08/15/30 (Call 02/15/25)^(a)(b)		12,663		11,048,467
4.50%, 05/01/32 (Call 05/01/26)		14,575		12,259,834
4.50%, 06/01/33 (Call 06/01/27)^(a)(b)		8,329		6,814,121
4.75%, 03/01/30 (Call 09/01/24)^(a)(b)		14,820		13,245,375
4.75%, 02/01/32 (Call 02/01/27)^(a)(b)		6,155		5,289,176
5.00%, 02/01/28 (Call 08/01/22)^(a)(b)		11,443		10,899,457
5.13%, 05/01/27 (Call 05/31/22)^(a)(b)		15,833		15,433,692
5.38%, 06/01/29 (Call 06/01/24)^(a)(b)		7,482		7,089,195
5.50%, 05/01/26 (Call 05/31/22)^(a)(b)		2,908		2,915,270
Cengage Learning Inc., 9.50%, 06/15/24 (Call 05/31/22)^(a)(b)		2,907		2,848,860
CSC Holdings LLC
3.38%, 02/15/31 (Call 02/15/26)^(a)		4,455		3,479,266
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		5,233		4,317,225
4.50%, 11/15/31 (Call 11/15/26)^(a)(b)		7,840		6,439,541
4.63%, 12/01/30 (Call 12/01/25)^(a)(b)		11,050		8,453,250
5.00%, 11/15/31 (Call 11/15/26)^(a)		2,555		1,975,858
5.25%, 06/01/24^(b)		3,818		3,731,637
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		4,860		4,462,136
5.50%, 04/15/27 (Call 05/31/22)^(a)(b)		5,841		5,639,077
5.75%, 01/15/30 (Call 01/15/25)^(a)(b)		10,545		8,752,350
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		8,554		8,126,300
7.50%, 04/01/28 (Call 04/01/23)^(a)		5,003		4,612,016
Cumulus Media New Holdings Inc., 6.75%, 07/01/26 (Call 07/01/22)^(a)(b)		2,331		2,319,345
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(a)(b)		14,788		5,471,560
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		6,320		1,311,400
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)^(a)		17,951		16,896,379


Security	Par (000)		Value

Media (continued)
DISH DBS Corp.
5.00%, 03/15/23	$	6,142	$	6,084,757
5.25%, 12/01/26 (Call 06/01/26)^(a)		13,115		12,041,537
5.75%, 12/01/28 (Call 12/01/27)^(a)		12,095		10,818,736
5.88%, 11/15/24		9,402		9,119,940
7.38%, 07/01/28 (Call 07/01/23)^(b)		4,561		3,988,047
7.75%, 07/01/26^(b)		9,546		8,979,588
5.13%, 06/01/29^(b)		7,118		5,559,941
Gannett Holdings LLC, 6.00%, 11/01/26 (Call 11/01/23)^(a)(b)		2,034		1,850,940
GCI LLC, 4.75%, 10/15/28 (Call 10/15/23)^(a)(b)		2,634		2,443,035
Gray Escrow II Inc., 5.38%, 11/15/31 (Call 11/15/26)^(a)		6,235		5,374,321
Gray Television Inc.
4.75%, 10/15/30 (Call 10/15/25)^(a)(b)		3,816		3,319,920
5.88%, 07/15/26 (Call 05/31/22)^(a)(b)		2,785		2,802,406
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)		3,535		3,654,306
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)		2,574		2,332,688
5.25%, 08/15/27 (Call 08/15/22)^(a)		3,046		2,848,010
6.38%, 05/01/26 (Call 05/16/22)^(b)		3,597		3,605,993
8.38%, 05/01/27 (Call 05/16/22)^(b)		7,879		7,800,210
LCPR Senior Secured Financing DAC
5.13%, 07/15/29 (Call 07/15/24)^(a)(b)		4,010		3,650,323
6.75%, 10/15/27 (Call 10/15/22)^(a)		5,507		5,472,719
Liberty Interactive LLC
8.25%, 02/01/30^(b)		2,442		2,156,286
8.50%, 07/15/29^(b)		1,510		1,359,000
McGraw-Hill Education Inc.
5.75%, 08/01/28 (Call 08/01/24)^(a)(b)		4,200		3,748,500
8.00%, 08/01/29 (Call 08/01/24)^(a)(b)		3,600		3,222,000
Midcontinent Communications/Midcontinent Finance Corp., 5.38%, 08/15/27 (Call 08/15/22)^(a)(b)		1,168		1,141,720
News Corp.
3.88%, 05/15/29 (Call 05/15/24)^(a)		4,474		4,045,491
5.13%, 02/15/32 (Call 02/15/27)^(a)		2,350		2,244,250
Nexstar Media Inc.
4.75%, 11/01/28 (Call 11/01/23)^(a)(b)		4,720		4,283,400
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		8,289		8,066,275
Paramount Global
6.25%, 02/28/57 (Call 02/28/27)^(d)		2,999		2,894,454
6.38%, 03/30/62 (Call 03/30/27)^(d)		5,000		4,845,825
Radiate Holdco LLC/Radiate Finance Inc.
4.50%, 09/15/26 (Call 09/15/23)^(a)(b)		4,515		4,157,818
6.50%, 09/15/28 (Call 09/15/23)^(a)(b)		4,555		4,008,400
Scripps Escrow II Inc.
3.88%, 01/15/29 (Call 01/15/24)^(a)		2,471		2,196,472
5.38%, 01/15/31 (Call 01/15/26)^(a)(b)		2,620		2,332,141
Scripps Escrow Inc., 5.88%, 07/15/27 (Call 07/15/22)^(a)(b)		2,231		2,130,605
Sinclair Television Group Inc.
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		3,315		2,749,627
5.13%, 02/15/27 (Call 05/16/22)^(a)		2,045		1,791,481
5.50%, 03/01/30 (Call 12/01/24)^(a)		2,690		2,199,532
Sirius XM Radio Inc.
3.13%, 09/01/26 (Call 09/01/23)^(a)(b)		4,679		4,310,529
3.88%, 09/01/31 (Call 09/01/26)^(a)		7,100		5,996,021
4.00%, 07/15/28 (Call 07/15/24)^(a)(b)		9,440		8,531,400
4.13%, 07/01/30 (Call 07/01/25)^(a)(b)		7,902		6,938,667
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		6,876		6,635,340
5.50%, 07/01/29 (Call 07/01/24)^(a)		5,911		5,684,372


Security	Par (000)		Value

Media (continued)
Spanish Broadcasting System Inc., 9.75%, 03/01/26 (Call 09/01/23)^(a)(b)	$	1,686	$	1,648,065
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)^(b)		4,300		4,137,460
4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		2,573		2,550,486
5.00%, 09/15/29 (Call 09/15/24)^(b)		4,804		4,659,880
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(a)		5,000		4,775,000
Townsquare Media Inc., 6.88%, 02/01/26 (Call 02/01/23)^(a)		2,943		2,930,051
Univision Communications Inc.
4.50%, 05/01/29 (Call 05/01/24)^(a)(b)		5,070		4,550,325
5.13%, 02/15/25 (Call 05/10/22)^(a)		6,967		6,845,077
6.63%, 06/01/27 (Call 06/01/23)^(a)(b)		7,657		7,676,142
9.50%, 05/01/25 (Call 05/10/22)^(a)		1,286		1,340,436
UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)^(a)		6,075		5,338,406
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(a)(b)		2,569		2,429,863
Urban One Inc., 7.38%, 02/01/28 (Call 02/01/24)^(a)		3,955		3,831,406
Videotron Ltd.
3.63%, 06/15/29 (Call 06/15/24)^(a)		2,870		2,496,900
5.13%, 04/15/27 (Call 05/30/22)^(a)(b)		2,634		2,581,320
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		2,936		2,965,360
Virgin Media Finance PLC, 5.00%, 07/15/30 (Call 07/15/25)^(a)(b)		4,255		3,701,850
Virgin Media Secured Finance PLC
4.50%, 08/15/30 (Call 08/15/25)^(a)(b)		4,625		4,013,853
5.50%, 05/15/29 (Call 05/15/24)^(a)(b)		6,538		6,047,650
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 07/15/23)^(a)		2,455		2,230,269
VZ Secured Financing BV, 5.00%, 01/15/32 (Call 01/15/27)^(a)		7,515		6,484,769
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)(b)		2,185		1,895,488
6.00%, 01/15/27 (Call 05/30/22)^(a)(b)		2,884		2,826,320
Ziggo BV, 4.88%, 01/15/30 (Call 10/15/24)^(a)(b)		4,650		4,121,062


				517,880,536

Metal Fabricate & Hardware — 0.1%
Advanced Drainage Systems Inc., 5.00%, 09/30/27 (Call 09/30/22)^(a)		1,006		972,048
Park-Ohio Industries Inc., 6.63%, 04/15/27 (Call 05/31/22)^(b)		1,698		1,273,500
Roller Bearing Co of America Inc., 4.38%, 10/15/29 (Call 10/15/24)^(a)(b)		2,210		1,989,000


				4,234,548

Mining — 1.4%
Alcoa Nederland Holding BV
4.13%, 03/31/29 (Call 03/31/24)^(a)(b)		2,300		2,153,214
5.50%, 12/15/27 (Call 06/15/23)^(a)(b)		3,270		3,253,650
6.13%, 05/15/28 (Call 05/15/23)^(a)		2,234		2,273,095
Arconic Corp.
6.00%, 05/15/25 (Call 05/31/22)^(a)(b)		3,335		3,346,372
6.13%, 02/15/28 (Call 02/15/23)^(a)(b)		4,543		4,401,031
Century Aluminum Co., 7.50%, 04/01/28 (Call 04/01/24)^(a)(b)		1,532		1,537,745
Coeur Mining Inc., 5.13%, 02/15/29 (Call 02/15/24)^(a)(b)		2,056		1,649,940
Compass Minerals International Inc.
4.88%, 07/15/24 (Call 05/15/24)^(a)(b)		1,410		1,395,900
6.75%, 12/01/27 (Call 12/01/22)^(a)		2,430		2,460,059


Security	Par (000)		Value

Mining (continued)
Constellium SE
3.75%, 04/15/29 (Call 04/15/24)^(a)(b)	$	2,610	$	2,257,206
5.63%, 06/15/28 (Call 06/15/23)^(a)(b)		1,695		1,622,963
5.88%, 02/15/26 (Call 05/30/22)^(a)(b)		1,109		1,098,087
Eldorado Gold Corp., 6.25%, 09/01/29 (Call 09/01/24)^(a)(b)		2,575		2,491,313
ERO Copper Corp., 6.50%, 02/15/30 (Call 02/15/25)^(a)(b)		2,010		1,803,593
FMG Resources August 2006 Pty Ltd.
4.38%, 04/01/31 (Call 01/01/31)^(a)(b)		7,170		6,344,876
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		3,117		2,953,358
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		3,919		3,958,190
5.88%, 04/15/30 (Call 01/15/30)^(a)(b)		3,140		3,117,392
6.13%, 04/15/32 (Call 01/15/32)^(a)(b)		4,130		4,099,087
Hecla Mining Co., 7.25%, 02/15/28 (Call 02/15/23)^(b)		2,731		2,758,310
Hudbay Minerals Inc.
4.50%, 04/01/26 (Call 04/01/23)^(a)		2,643		2,443,599
6.13%, 04/01/29 (Call 04/01/24)^(a)(b)		3,446		3,260,846
IAMGOLD Corp., 5.75%, 10/15/28 (Call 10/15/23)^(a)		2,311		1,966,060
Joseph T Ryerson & Son Inc., 8.50%, 08/01/28 (Call 08/01/23)^(a)(b)		1,697		1,824,275
JW Aluminum Continuous Cast Co., 10.25%, 06/01/26 (Call 05/16/22)^(a)(b)		1,089		1,130,031
Kaiser Aluminum Corp.
4.50%, 06/01/31 (Call 06/01/26)^(a)(b)		2,855		2,462,438
4.63%, 03/01/28 (Call 03/01/23)^(a)(b)		2,272		2,084,560
New Gold Inc., 7.50%, 07/15/27 (Call 07/15/23)^(a)(b)		2,330		2,344,563
Novelis Corp.
3.25%, 11/15/26 (Call 11/15/23)^(a)		3,957		3,610,565
3.88%, 08/15/31 (Call 08/15/26)^(a)		4,205		3,605,787
4.75%, 01/30/30 (Call 01/30/25)^(a)(b)		7,357		6,766,454
Perenti Finance Pty Ltd., 6.50%, 10/07/25 (Call 10/07/22)^(a)(b)		2,435		2,430,130
Taseko Mines Ltd., 7.00%, 02/15/26 (Call 02/15/23)^(a)		2,350		2,332,375


				91,237,064

Office & Business Equipment — 0.3%
Pitney Bowes Inc.
6.88%, 03/15/27 (Call 03/15/24)^(a)(b)		2,035		1,880,849
7.25%, 03/15/29 (Call 03/15/24)^(a)(b)		1,800		1,645,524
Xerox Corp.
3.80%, 05/15/24^(b)		628		607,590
4.63%, 03/15/23 (Call 02/15/23)		3,635		3,635,000
4.80%, 03/01/35		1,467		1,158,930
6.75%, 12/15/39^(b)		1,593		1,489,455
Xerox Holdings Corp.
5.00%, 08/15/25 (Call 07/15/25)^(a)		3,960		3,801,600
5.50%, 08/15/28 (Call 07/15/28)^(a)(b)		3,366		3,029,400


				17,248,348

Office Furnishings — 0.0%
Interface Inc., 5.50%, 12/01/28 (Call 12/01/23)^(a)(b)		1,402		1,270,254
Steelcase Inc., 5.13%, 01/18/29 (Call 10/18/28)		2,107		2,050,949


				3,321,203

Oil & Gas — 6.8%
Aethon United BR LP/Aethon United Finance Corp., 8.25%, 02/15/26 (Call 02/15/23)^(a)		3,510		3,617,158
Antero Resources Corp.
5.38%, 03/01/30 (Call 03/01/25)^(a)(b)		2,955		2,887,301
7.63%, 02/01/29 (Call 02/01/24)^(a)(b)		2,558		2,710,457
8.38%, 07/15/26 (Call 01/15/24)^(a)(b)		1,428		1,538,884


Security	Par (000)		Value

Oil & Gas (continued)
Apache Corp.
4.25%, 01/15/30 (Call 10/15/29)^(b)	$	2,790	$	2,592,077
4.38%, 10/15/28 (Call 07/15/28)		1,600		1,504,000
4.75%, 04/15/43 (Call 10/15/42)^(b)		2,225		1,924,625
5.10%, 09/01/40 (Call 03/01/40)^(b)		6,135		5,552,175
5.25%, 02/01/42 (Call 08/01/41)^(b)		1,880		1,729,600
5.35%, 07/01/49 (Call 01/01/49)		2,182		1,914,705
6.00%, 01/15/37		1,965		2,030,002
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
5.88%, 06/30/29 (Call 09/01/24)^(a)(b)		1,710		1,655,126
7.00%, 11/01/26 (Call 05/31/22)^(a)		2,951		2,974,136
8.25%, 12/31/28 (Call 02/01/24)^(a)(b)		1,580		1,643,200
9.00%, 11/01/27 (Call 11/01/26)^(a)		1,019		1,417,783
Baytex Energy Corp.
5.63%, 06/01/24 (Call 05/31/22)^(a)(b)		120		119,400
8.75%, 04/01/27 (Call 04/01/23)^(a)		2,489		2,631,346
Berry Petroleum Co. LLC, 7.00%, 02/15/26 (Call 05/31/22)^(a)		2,099		2,036,030
California Resources Corp., 7.13%, 02/01/26 (Call 02/01/23)^(a)(b)		3,065		3,117,565
Callon Petroleum Co.
6.13%, 10/01/24 (Call 05/31/22)		3,173		3,132,576
6.38%, 07/01/26 (Call 05/31/22)		497		479,605
8.00%, 08/01/28 (Call 08/01/24)^(a)(b)		3,595		3,718,380
Calumet Specialty Products Partners LP/Calumet Finance Corp.
8.13%, 01/15/27 (Call 01/15/24)^(a)		1,570		1,405,150
11.00%, 04/15/25 (Call 05/31/22)^(a)(b)		2,969		2,969,000
Centennial Resource Production LLC
5.38%, 01/15/26 (Call 05/31/22)^(a)(b)		1,314		1,281,150
6.88%, 04/01/27 (Call 05/31/22)^(a)(b)		1,362		1,359,337
Chesapeake Energy Corp.
5.50%, 02/01/26 (Call 02/05/23)^(a)(b)		2,363		2,343,068
5.88%, 02/01/29 (Call 02/05/24)^(a)		2,475		2,447,082
6.75%, 04/15/29 (Call 04/15/24)^(a)(b)		4,172		4,198,075
Citgo Holding Inc., 9.25%, 08/01/24 (Call 05/31/22)^(a)(b)		6,933		6,889,669
CITGO Petroleum Corp.
6.38%, 06/15/26 (Call 06/15/23)^(a)(b)		2,870		2,852,206
7.00%, 06/15/25 (Call 06/15/22)^(a)		5,435		5,397,662
Civitas Resources Inc., 5.00%, 10/15/26 (Call 10/15/23)^(a)		1,944		1,846,800
CNX Resources Corp.
6.00%, 01/15/29 (Call 01/15/24)^(a)(b)		2,183		2,153,682
7.25%, 03/14/27 (Call 05/31/22)^(a)(b)		3,604		3,684,117
Colgate Energy Partners III LLC
5.88%, 07/01/29 (Call 07/01/24)^(a)		3,000		2,985,000
7.75%, 02/15/26 (Call 02/15/24)^(a)		1,095		1,147,023
Comstock Resources Inc.
5.88%, 01/15/30 (Call 01/15/25)^(a)(b)		4,345		4,181,237
6.75%, 03/01/29 (Call 03/01/24)^(a)(b)		5,942		6,008,432
7.50%, 05/15/25 (Call 05/15/22)^(a)		201		205,121
CrownRock LP/CrownRock Finance Inc.
5.00%, 05/01/29 (Call 05/01/24)^(a)		1,227		1,200,755
5.63%, 10/15/25 (Call 05/31/22)^(a)		5,802		5,802,000
CVR Energy Inc.
5.25%, 02/15/25 (Call 05/16/22)^(a)(b)		3,058		2,958,309
5.75%, 02/15/28 (Call 02/15/23)^(a)(b)		1,731		1,622,432
Earthstone Energy Holdings LLC, 8.00%, 04/15/27		2,750		2,740,224


Security	Par (000)		Value

Oil & Gas (continued)
Encino Acquisition Partners Holdings LLC, 8.50%, 05/01/28 (Call 05/01/24)^(a)(b)	$	3,200	$	3,208,000
Endeavor Energy Resources LP/EER Finance Inc.
5.75%, 01/30/28 (Call 01/30/23)^(a)(b)		5,444		5,458,046
6.63%, 07/15/25 (Call 07/15/22)^(a)		2,089		2,146,448
Energean PLC, 6.50%, 04/30/27 (Call 10/30/23)^(a)(b)		2,350		2,207,825
Energy Ventures Gom LLC/EnVen Finance Corp., 11.75%, 04/15/26 (Call 04/15/23)^(a)		1,183		1,224,405
Ensign Drilling Inc., 9.25%, 04/15/24 (Call 05/30/22)^(a)(b)		1,964		1,919,810
Global Marine Inc., 7.00%, 06/01/28		972		677,970
Gran Tierra Energy Inc., 7.75%, 05/23/27 (Call 05/23/23)^(a)(b)		1,054		969,691
Gran Tierra Energy International Holdings Ltd., 6.25%, 02/15/25 (Call 05/17/22)^(a)(b)		1,024		942,090
Harbour Energy PLC, 5.50%, 10/15/26 (Call 10/15/23)^(a)(b)		2,680		2,599,600
Hilcorp Energy I LP/Hilcorp Finance Co.
5.75%, 02/01/29 (Call 02/01/24)^(a)(b)		2,818		2,761,640
6.00%, 04/15/30^(a)		2,545		2,525,912
6.00%, 02/01/31 (Call 02/01/26)^(a)		2,605		2,513,929
6.25%, 11/01/28 (Call 11/01/23)^(a)		2,693		2,681,285
6.25%, 04/15/32^(a)		2,560		2,494,221
Independence Energy Finance LLC, 7.25%, 05/01/26 (Call 05/01/23)^(a)(b)		3,337		3,286,945
Ithaca Energy North Sea PLC, 9.00%, 07/15/26 (Call 07/15/23)^(a)		3,215		3,278,625
Laredo Petroleum Inc.
7.75%, 07/31/29 (Call 07/31/24)^(a)(b)		1,935		1,896,300
9.50%, 01/15/25 (Call 05/31/22)^(b)		2,934		3,007,350
10.13%, 01/15/28 (Call 01/15/23)		1,833		1,929,233
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., 6.00%, 08/01/26 (Call 05/10/22)^(a)		1,495		1,495,000
Matador Resources Co., 5.88%, 09/15/26 (Call 05/16/22)^(b)		4,486		4,404,086
MEG Energy Corp.
5.88%, 02/01/29 (Call 02/01/24)^(a)(b)		2,852		2,791,737
7.13%, 02/01/27 (Call 02/01/23)^(a)(b)		5,209		5,289,739
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 05/31/22)^(a)(b)		3,542		3,247,979
10.50%, 05/15/27 (Call 05/31/22)^(a)(b)		2,235		2,179,125
Murphy Oil Corp.
5.75%, 08/15/25 (Call 05/31/22)^(b)		1,905		1,905,000
5.88%, 12/01/27 (Call 12/01/22)^(b)		2,054		2,038,595
6.38%, 07/15/28 (Call 07/15/24)		2,056		2,091,630
6.38%, 12/01/42 (Call 06/01/42)		1,626		1,467,335
6.88%, 08/15/24 (Call 05/31/22)^(b)		1,455		1,455,786
7.05%, 05/01/29		1,790		1,853,903
Nabors Industries Inc.
5.75%, 02/01/25 (Call 11/01/24)^(b)		2,496		2,385,602
7.38%, 05/15/27 (Call 05/15/24)^(a)		3,250		3,315,650
Nabors Industries Ltd.
7.25%, 01/15/26 (Call 07/15/22)^(a)		2,808		2,744,230
7.50%, 01/15/28 (Call 01/15/23)^(a)		1,920		1,838,400
Neptune Energy Bondco PLC, 6.63%, 05/15/25 (Call 05/30/22)^(a)		3,875		3,838,187
Northern Oil and Gas Inc., 8.13%, 03/01/28 (Call 03/01/24)^(a)		3,345		3,328,275
Oasis Petroleum Inc., 6.38%, 06/01/26 (Call 06/01/23)^(a)(b)		1,945		1,954,453


Security	Par (000)		Value

Oil & Gas (continued)
Occidental Petroleum Corp.
3.00%, 02/15/27 (Call 11/15/26)	$	3,067	$	2,852,310
3.20%, 08/15/26 (Call 06/15/26)		4,045		3,802,300
3.40%, 04/15/26 (Call 01/15/26)		4,075		3,881,437
3.50%, 08/15/29 (Call 05/15/29)^(b)		7,379		6,890,141
4.10%, 02/15/47 (Call 08/15/46)		3,175		2,643,187
4.20%, 03/15/48 (Call 09/15/47)		4,757		3,942,364
4.30%, 08/15/39 (Call 02/15/39)^(b)		3,341		2,837,678
4.40%, 04/15/46 (Call 10/15/45)		4,602		3,946,675
4.40%, 08/15/49 (Call 02/15/49)		3,397		2,881,692
4.50%, 07/15/44 (Call 01/15/44)^(b)		3,004		2,583,440
4.63%, 06/15/45 (Call 12/15/44)		3,034		2,616,825
5.50%, 12/01/25 (Call 09/01/25)		3,452		3,512,410
5.55%, 03/15/26 (Call 12/15/25)		5,195		5,324,875
5.88%, 09/01/25 (Call 06/01/25)		4,550		4,673,168
6.13%, 01/01/31 (Call 07/01/30)^(b)		5,860		6,159,212
6.20%, 03/15/40		3,511		3,634,377
6.38%, 09/01/28 (Call 03/01/28)		2,785		2,924,250
6.45%, 09/15/36		8,263		8,965,355
6.60%, 03/15/46 (Call 09/15/45)		5,227		5,697,430
6.63%, 09/01/30 (Call 03/01/30)^(b)		7,073		7,665,364
6.95%, 07/01/24		2,888		3,028,790
7.50%, 05/01/31		4,115		4,691,100
7.88%, 09/15/31		2,202		2,574,534
7.95%, 06/15/39		1,548		1,873,080
8.00%, 07/15/25 (Call 04/15/25)		2,600		2,801,500
8.50%, 07/15/27 (Call 01/15/27)		2,548		2,872,870
8.88%, 07/15/30 (Call 01/15/30)		4,850		5,825,286
Par Petroleum LLC/Par Petroleum Finance Corp., 7.75%, 12/15/25 (Call 05/31/22)^(a)		1,275		1,255,875
Parkland Corp.
4.50%, 10/01/29 (Call 10/01/24)^(a)(b)		4,354		3,811,230
4.63%, 05/01/30 (Call 05/01/25)^(a)(b)		4,060		3,552,500
5.88%, 07/15/27 (Call 07/15/22)^(a)(b)		2,144		2,079,037
Patterson-UTI Energy Inc.
3.95%, 02/01/28 (Call 11/01/27)		75		69,076
5.15%, 11/15/29 (Call 08/15/29)		300		285,074
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)		4,134		3,637,920
7.25%, 06/15/25 (Call 05/31/22)^(b)		3,371		3,254,869
9.25%, 05/15/25 (Call 05/31/22)^(a)		5,698		5,907,060
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/31/22)^(b)		3,184		3,098,541
6.13%, 09/15/24 (Call 05/31/22)		82		82,186
Penn Virginia Holdings LLC., 9.25%, 08/15/26 (Call 08/15/23)^(a)		1,745		1,788,625
Petrofac Ltd., 9.75%, 11/15/26 (Call 11/15/23)^(a)(b)		5,805		5,427,675
Precision Drilling Corp.
6.88%, 01/15/29 (Call 01/15/25)^(a)(b)		2,255		2,187,869
7.13%, 01/15/26 (Call 05/16/22)^(a)(b)		1,432		1,435,924
Range Resources Corp.
4.75%, 02/15/30 (Call 02/15/25)^(a)(b)		2,285		2,179,582
4.88%, 05/15/25 (Call 02/15/25)^(b)		3,369		3,335,310
5.00%, 08/15/22 (Call 05/15/22)		560		560,448
5.00%, 03/15/23 (Call 12/15/22)		1,256		1,259,140
8.25%, 01/15/29 (Call 01/15/24)		2,645		2,835,969
Rockcliff Energy II LLC, 5.50%, 10/15/29 (Call 10/15/24)^(a)		3,220		3,123,400
SM Energy Co. 5.63%, 06/01/25 (Call 05/31/22)		1,710		1,671,525


Security	Par (000)		Value

Oil & Gas (continued)
6.50%, 07/15/28 (Call 07/15/24)^(b)	$	2,705	$	2,666,724
6.75%, 09/15/26 (Call 05/31/22)		1,632		1,623,775
10.00%, 01/15/25 (Call 06/17/22)^(a)		4,023		4,345,725
Southwestern Energy Co.
4.75%, 02/01/32 (Call 02/01/27)^(b)		5,310		5,021,295
5.38%, 02/01/29 (Call 02/01/24)		3,145		3,106,631
5.38%, 03/15/30 (Call 03/15/25)^(b)		6,435		6,353,597
5.95%, 01/23/25 (Call 10/23/24)		2,300		2,333,074
7.75%, 10/01/27 (Call 10/01/22)^(b)		1,903		1,985,857
8.38%, 09/15/28 (Call 09/15/23)		1,614		1,745,138
Strathcona Resources Ltd., 6.88%, 08/01/26 (Call 08/01/23)^(a)(b)		2,485		2,404,237
Sunoco LP/Sunoco Finance Corp.
4.50%, 05/15/29 (Call 05/15/24)		3,921		3,525,881
4.50%, 04/30/30 (Call 04/30/25)^(a)		3,781		3,411,823
5.88%, 03/15/28 (Call 03/15/23)^(b)		2,506		2,468,410
6.00%, 04/15/27 (Call 05/31/22)^(b)		2,012		2,027,070
Talos Production Inc., 12.00%, 01/15/26 (Call 01/15/23)		3,200		3,440,736
Tap Rock Resources LLC, 7.00%, 10/01/26 (Call 10/01/23)^(a)(b)		2,230		2,252,768
Teine Energy Ltd., 6.88%, 04/15/29 (Call 04/15/24)^(a)(b)		2,305		2,293,475
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 05/30/22)^(a)		1,913		1,830,642
Transocean Inc.
6.80%, 03/15/38		2,534		1,536,770
7.25%, 11/01/25 (Call 05/10/22)^(a)		2,425		2,011,998
7.50%, 01/15/26 (Call 05/10/22)^(a)		2,958		2,418,165
7.50%, 04/15/31		2,456		1,633,240
8.00%, 02/01/27 (Call 02/01/23)^(a)		2,909		2,298,110
11.50%, 01/30/27 (Call 07/30/23)^(a)		3,125		3,108,562
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 05/30/22)^(a)		1,512		1,485,140
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 05/30/22)^(a)(b)		2,789		2,683,692
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/30/22)^(a)		1,092		1,059,503
Vantage Drilling International, 9.25%, 11/15/23 (Call 05/31/22)^(a)(b)		1,434		1,390,980
Vermilion Energy Inc., 5.63%, 03/15/25 (Call 05/30/22)^(a)(b)		1,540		1,530,375
Viper Energy Partners LP, 5.38%, 11/01/27 (Call 11/01/22)^(a)		1,751		1,743,436
W&T Offshore Inc., 9.75%, 11/01/23 (Call 05/31/22)^(a)		2,542		2,524,714


				458,159,727

Oil & Gas Services — 0.6%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)^(a)(b)		3,919		3,801,430
6.88%, 04/01/27 (Call 05/31/22)^(a)(b)		2,307		2,310,461
Bristow Group Inc., 6.88%, 03/01/28 (Call 03/01/24)^(a)		1,916		1,877,683
CGG SA, 8.75%, 04/01/27 (Call 04/01/24)^(a)(b)		2,370		2,352,604
CSI Compressco LP/CSI Compressco Finance Inc., 7.50%, 04/01/25 (Call 05/31/22)^(a)(b)		1,847		1,776,426
Exterran Energy Solutions LP/EES Finance Corp., 8.13%, 05/01/25 (Call 05/31/22)		1,396		1,399,490
KLX Energy Services Holdings Inc., 11.50%, 11/01/25 (Call 05/31/22)^(a)		850		550,375
Nine Energy Service Inc., 8.75%, 11/01/23 (Call 05/31/22)^(a)		1,332		839,160


Security	Par (000)		Value

Oil & Gas Services (continued)
Oceaneering International Inc.
4.65%, 11/15/24 (Call 08/15/24)	$	2,264	$	2,190,420
6.00%, 02/01/28 (Call 11/01/27)^(b)		1,332		1,238,880
TechnipFMC PLC, 6.50%, 02/01/26 (Call 02/01/23)^(a)		2,920		3,022,200
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 05/30/22)^(a)		956		962,969
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 05/30/22)^(a)		1,094		1,074,855
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 05/31/22)		3,073		3,011,540
6.88%, 09/01/27 (Call 09/01/22)		3,558		3,477,269
Weatherford International Ltd.
6.50%, 09/15/28 (Call 09/15/24)^(a)		2,086		2,106,860
8.63%, 04/30/30 (Call 10/30/24)^(a)		8,099		8,016,876
11.00%, 12/01/24 (Call 05/31/22)^(a)(b)		1,249		1,286,470
Welltec International ApS, 8.25%, 10/15/26 (Call 10/15/23)^(a)		1,300		1,312,742


				42,608,710

Oil Field Machinery & Equipment — 0.0%
Vermilion Energy Inc., 6.88%, 05/01/30		2,175		2,123,344


Packaging & Containers — 2.3%
ARD Finance SA, 6.50%, 06/30/27 (Call 11/15/22), (7.25% PIK)^(a)(c)		4,255		3,574,200
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.25%, 09/01/28 (Call 05/15/24)^(a)		2,755		2,403,738
4.00%, 09/01/29 (Call 05/15/24)^(a)(b)		4,900		4,199,447
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)		6,180		5,716,500
5.25%, 04/30/25 (Call 05/30/22)^(a)(b)		3,180		3,158,773
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		8,760		7,522,650
Ball Corp.
2.88%, 08/15/30 (Call 05/15/30)^(b)		6,398		5,380,078
3.13%, 09/15/31 (Call 06/15/31)^(b)		4,055		3,393,183
4.00%, 11/15/23		4,101		4,090,994
4.88%, 03/15/26 (Call 12/15/25)^(b)		3,741		3,741,000
5.25%, 07/01/25		4,789		4,908,725
Berry Global Inc.
4.50%, 02/15/26 (Call 05/31/22)^(a)(b)		1,717		1,689,099
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		1,871		1,864,021
Cascades Inc./Cascades USA Inc.
5.13%, 01/15/26 (Call 01/15/23)^(a)(b)		500		486,250
5.38%, 01/15/28 (Call 01/15/23)^(a)(b)		2,242		2,163,530
Clydesdale Acquisition Holdings Inc.
6.63%, 04/15/29 (Call 04/15/25)^(a)		1,497		1,493,258
8.75%, 04/15/30 (Call 04/15/25)^(a)(b)		5,375		4,912,427
Crown Americas LLC, 5.25%, 04/01/30 (Call 01/01/30)^(a)(b)		3,105		3,077,831
Crown Americas LLC / Crown Americas Capital Corp VI, 4.25%, 09/30/26 (Call 03/31/26)		1,821		1,763,356
Crown Cork & Seal Co. Inc., 7.38%, 12/15/26		1,536		1,632,000
Duke Energy Carolinas LLC, 4.75%, 02/01/26 (Call 05/31/22)		3,467		3,453,999
Graham Packaging Co. Inc., 7.13%, 08/15/28 (Call 08/15/23)^(a)(b)		2,330		2,100,914
Graphic Packaging International LLC 3.50%, 03/15/28^(a)(b)		2,631		2,367,900


Security	Par (000)		Value

Packaging & Containers (continued)
3.50%, 03/01/29 (Call 09/01/28)^(a)	$	1,635	$	1,442,888
3.75%, 02/01/30 (Call 08/01/29)^(a)(b)		1,915		1,678,938
4.13%, 08/15/24 (Call 05/15/24)^(b)		382		381,045
4.75%, 07/15/27 (Call 04/15/27)^(a)		1,791		1,736,213
Intelligent Packaging Ltd. Finco Inc./Intelligent Packaging Ltd. Co-Issuer LLC, 6.00%, 09/15/28 (Call 09/15/22)^(a)(b)		3,410		3,205,400
Intertape Polymer Group Inc., 4.38%, 06/15/29 (Call 06/15/24)^(a)		1,950		2,006,316
LABL Inc.
5.88%, 11/01/28 (Call 11/01/24)^(a)		2,360		2,157,778
6.75%, 07/15/26 (Call 07/15/22)^(a)(b)		3,254		3,131,031
8.25%, 11/01/29 (Call 11/01/24)^(a)(b)		2,205		1,808,100
10.50%, 07/15/27 (Call 07/15/22)^(a)(b)		3,676		3,547,340
Matthews International Corp., 5.25%, 12/01/25 (Call 05/31/22)^(a)		1,024		1,013,760
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 05/31/22)^(a)(b)		7,031		6,864,014
7.25%, 04/15/25 (Call 05/31/22)^(a)(b)		6,493		6,152,117
OI European Group BV, 4.75%, 02/15/30 (Call 11/15/24)^(a)(b)		1,950		1,716,000
Owens-Brockway Glass Container Inc.
5.38%, 01/15/25^(a)		1,145		1,119,238
5.88%, 08/15/23^(a)(b)		2,650		2,686,954
6.38%, 08/15/25^(a)(b)		1,418		1,414,455
6.63%, 05/13/27 (Call 05/15/23)^(a)(b)		3,189		3,141,165
Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 4.00%, 10/15/27 (Call 10/15/23)^(a)(b)		4,398		3,837,255
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., 4.38%, 10/15/28 (Call 10/15/24)^(a)		2,473		2,182,423
Pactiv LLC, 7.95%, 12/15/25		1,374		1,346,520
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)(b)		1,775		1,668,500
5.00%, 04/15/29^(a)(b)		2,110		2,094,175
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		1,916		1,949,530
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		2,124		2,171,790
6.88%, 07/15/33^(a)		2,083		2,281,968
Silgan Holdings Inc., 4.13%, 02/01/28 (Call 10/01/22)		2,713		2,529,872
Trident TPI Holdings Inc.
6.63%, 11/01/25 (Call 05/10/22)^(a)(b)		926		893,590
9.25%, 08/01/24 (Call 05/10/22)^(a)(b)		1,412		1,387,290
TriMas Corp., 4.13%, 04/15/29 (Call 04/15/24)^(a)(b)		1,845		1,646,663
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		4,529		4,376,146
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		3,848		3,799,900


				152,462,247

Pharmaceuticals — 2.7%
180 Medical Inc., 3.88%, 10/15/29 (Call 10/07/24)^(a)(b)		2,470		2,198,300
AdaptHealth LLC
4.63%, 08/01/29 (Call 02/01/24)^(a)(b)		2,745		2,326,387
5.13%, 03/01/30 (Call 03/01/25)^(a)		2,770		2,382,200
6.13%, 08/01/28 (Call 08/01/23)^(a)(b)		1,830		1,729,350
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)^(a)(b)		8,281		7,836,062
9.25%, 04/01/26 (Call 05/31/22)^(a)(b)		6,962		6,911,177
Bausch Health Companies Inc.
4.88%, 06/01/28 (Call 06/01/24)^(a)(b)		7,855		6,969,349
5.00%, 01/30/28 (Call 01/30/23)^(a)		5,903		4,354,466


Security	Par (000)		Value

Pharmaceuticals (continued)
5.00%, 02/15/29 (Call 02/15/24)^(a)	$	4,666	$	3,281,388
5.25%, 01/30/30 (Call 01/30/25)^(a)		5,963		4,138,918
5.25%, 02/15/31 (Call 02/15/26)^(a)		4,724		3,283,180
5.50%, 11/01/25 (Call 05/30/22)^(a)		7,982		7,722,585
5.75%, 08/15/27 (Call 08/15/22)^(a)		1,856		1,735,360
6.13%, 04/15/25 (Call 05/16/22)^(a)		12,239		12,274,983
6.13%, 02/01/27 (Call 02/01/24)^(a)		4,770		4,579,725
6.25%, 02/15/29 (Call 02/15/24)^(a)		7,122		5,183,107
7.00%, 01/15/28 (Call 01/15/23)^(a)(b)		3,412		2,814,900
7.25%, 05/30/29 (Call 05/30/24)^(a)(b)		3,604		2,726,228
9.00%, 12/15/25 (Call 05/30/22)^(a)		7,888		7,917,619
BellRing Brands Inc., 7.00%, 03/15/30 (Call 03/15/27)^(a)		3,960		3,870,900
Cheplapharm Arzneimittel GmbH, 5.50%, 01/15/28 (Call 01/15/24)^(a)(b)		2,200		2,106,302
Elanco Animal Health Inc., 6.40%, 08/28/28 (Call 05/28/28)^(b)		4,154		4,263,042
Embecta Corp., 5.00%, 02/15/30 (Call 02/15/27)^(a)(b)		2,535		2,287,837
Endo Dac/Endo Finance LLC/Endo Finco Inc.
5.88%, 10/15/24 (Call 05/30/22)^(a)(b)		950		876,375
6.00%, 06/30/28 (Call 06/30/23)^(a)		6,501		2,795,430
9.50%, 07/31/27 (Call 07/31/23)^(a)(b)		4,523		3,569,009
Endo Luxembourg Finance Co. I Sarl/Endo U.S. Inc., 6.13%, 04/01/29 (Call 04/01/24)^(a)(b)		5,895		5,128,650
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)^(a)		2,991		2,942,396
HLF Financing Sarl LLC/Herbalife International Inc., 4.88%, 06/01/29 (Call 06/01/24)^(a)(b)		2,980		2,398,662
Horizon Therapeutics USA Inc., 5.50%, 08/01/27 (Call 08/01/22)^(a)		2,205		2,204,515
Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)^(a)(b)		6,745		6,213,831
Lannett Co. Inc., 7.75%, 04/15/26 (Call 04/15/23)^(a)		1,775		925,219
Option Care Health Inc., 4.38%, 10/31/29 (Call 10/31/24)^(a)		2,320		2,085,610
Organon & Co./Organon Foreign Debt Co-Issuer BV
4.13%, 04/30/28 (Call 04/30/24)^(a)		10,630		9,889,089
5.13%, 04/30/31 (Call 04/30/26)^(a)(b)		9,255		8,364,206
Owens & Minor Inc.
4.50%, 03/31/29 (Call 03/31/24)^(a)(b)		2,495		2,244,435
6.63%, 04/01/30 (Call 04/01/25)^(a)(b)		2,720		2,662,581
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (Call 11/15/22)^(a)		2,290		2,018,062
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 05/31/22)^(a)(b)		9,383		8,560,862
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)		2,350		2,312,102
3.90%, 06/15/30 (Call 03/15/30)^(b)		3,478		3,119,454
4.38%, 03/15/26 (Call 12/15/25)		3,720		3,593,850
4.90%, 12/15/44 (Call 06/15/44)		1,400		1,118,349
PRA Health Sciences Inc., 2.88%, 07/15/26 (Call 07/15/23)^(a)(b)		2,210		2,047,653
Prestige Brands Inc.
3.75%, 04/01/31 (Call 04/01/26)^(a)(b)		3,204		2,716,191
5.13%, 01/15/28 (Call 01/15/23)^(a)		1,757		1,669,150
Vizient Inc., 6.25%, 05/15/27 (Call 05/16/22)^(a)(b)		1,049		1,083,092


				183,432,138


Security	Par (000)		Value

Pipelines — 4.8%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 06/15/29 (Call 06/15/24)^(a)	$	3,430	$	3,215,008
5.75%, 03/01/27 (Call 05/16/22)^(a)(b)		3,053		2,972,798
5.75%, 01/15/28 (Call 01/15/23)^(a)(b)		3,233		3,143,478
7.88%, 05/15/26 (Call 05/15/23)^(a)		2,252		2,355,569
Blue Racer Midstream LLC/Blue Racer Finance Corp.
6.63%, 07/15/26 (Call 05/31/22)^(a)(b)		1,112		1,113,390
7.63%, 12/15/25 (Call 12/15/22)^(a)		3,038		3,129,140
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)		3,176		3,001,320
4.13%, 03/01/25 (Call 02/01/25)^(a)		2,439		2,338,245
4.13%, 12/01/27 (Call 09/01/27)		1,802		1,662,345
4.15%, 07/01/23 (Call 04/01/23)		1,566		1,554,255
4.35%, 10/15/24 (Call 07/15/24)^(b)		1,485		1,462,725
4.50%, 03/01/28 (Call 12/01/27)^(a)		2,165		1,975,563
5.60%, 10/15/44 (Call 04/15/44)		1,713		1,374,683
5.85%, 11/15/43 (Call 05/15/43)		1,785		1,423,538
Cheniere Energy Inc., 4.63%, 10/15/28 (Call 10/15/23)		8,974		8,682,345
Cheniere Energy Partners LP
3.25%, 01/31/32 (Call 01/31/27)^(a)(b)		5,460		4,668,300
4.00%, 03/01/31 (Call 03/01/26)		7,876		7,128,607
4.50%, 10/01/29 (Call 10/01/24)^(b)		7,127		6,824,102
CNX Midstream Partners LP, 4.75%, 04/15/30 (Call 04/15/25)^(a)		1,980		1,821,600
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (Call 06/15/26)^(a)(b)		6,730		6,207,079
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/16/22)^(a)(b)		3,096		3,014,730
5.75%, 04/01/25 (Call 05/31/22)		1,762		1,740,979
6.00%, 02/01/29 (Call 02/01/24)^(a)(b)		3,193		3,105,703
DCP Midstream Operating LP
3.25%, 02/15/32 (Call 08/15/31)		2,240		1,899,542
3.88%, 03/15/23 (Call 12/15/22)^(b)		519		517,207
5.13%, 05/15/29 (Call 02/15/29)^(b)		3,588		3,528,726
5.38%, 07/15/25 (Call 04/15/25)^(b)		4,337		4,358,685
5.60%, 04/01/44 (Call 10/01/43)		1,992		1,904,312
5.63%, 07/15/27 (Call 04/15/27)^(b)		2,787		2,827,746
5.85%, 05/21/43 (Call 05/21/23)^(a)(d)		2,420		2,199,465
6.45%, 11/03/36^(a)(b)		1,523		1,702,859
6.75%, 09/15/37^(a)		1,817		2,040,509
8.13%, 08/16/30		1,133		1,331,275
Delek Logistics Partners LP/Delek Logistics Finance Corp., 7.13%, 06/01/28 (Call 06/01/24)^(a)		2,235		2,136,347
DT Midstream Inc.
4.13%, 06/15/29 (Call 06/15/24)^(a)(b)		4,941		4,496,310
4.38%, 06/15/31 (Call 06/15/26)^(a)		4,970		4,452,524
EnLink Midstream LLC
5.38%, 06/01/29 (Call 03/01/29)^(b)		2,125		2,068,326
5.63%, 01/15/28 (Call 07/15/27)^(a)(b)		2,417		2,395,004
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)^(b)		2,647		2,574,208
4.40%, 04/01/24 (Call 01/01/24)^(b)		2,346		2,316,440
4.85%, 07/15/26 (Call 04/15/26)		1,842		1,791,345
5.05%, 04/01/45 (Call 10/01/44)		2,345		1,805,439
5.45%, 06/01/47 (Call 12/01/46)		2,460		1,992,600
5.60%, 04/01/44 (Call 10/01/43)		1,901		1,568,468
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)		2,760		2,668,534


Security	Par (000)		Value

Pipelines (continued)
4.13%, 12/01/26 (Call 09/01/26)	$	2,684	$	2,492,765
4.50%, 01/15/29 (Call 07/15/28)^(a)		4,132		3,719,709
4.75%, 07/15/23 (Call 06/15/23)		2,205		2,180,194
4.75%, 01/15/31 (Call 07/15/30)^(a)(b)		4,961		4,423,228
5.50%, 07/15/28 (Call 04/15/28)		4,420		4,221,100
6.00%, 07/01/25 (Call 04/01/25)^(a)		3,562		3,530,120
6.50%, 07/01/27 (Call 01/01/27)^(a)		4,169		4,210,690
6.50%, 07/15/48 (Call 01/15/48)^(b)		2,721		2,503,320
Genesis Energy LP/Genesis Energy Finance Corp.
5.63%, 06/15/24 (Call 05/31/22)^(b)		1,533		1,498,508
6.25%, 05/15/26 (Call 05/31/22)^(b)		2,003		1,867,798
6.50%, 10/01/25 (Call 05/31/22)		3,060		2,907,000
7.75%, 02/01/28 (Call 02/01/23)^(b)		3,525		3,392,813
8.00%, 01/15/27 (Call 01/15/24)		4,616		4,527,095
Global Partners LP/GLP Finance Corp.
6.88%, 01/15/29 (Call 01/15/24)		1,719		1,676,132
7.00%, 08/01/27 (Call 08/01/22)^(b)		2,120		2,072,300
Harvest Midstream I LP, 7.50%, 09/01/28 (Call 09/01/23)^(a)(b)		3,706		3,760,330
Hess Midstream Operations LP
4.25%, 02/15/30 (Call 02/15/25)^(a)		3,410		3,127,959
5.13%, 06/15/28 (Call 06/15/23)^(a)(b)		2,243		2,170,103
5.50%, 10/15/30 (Call 10/15/25)^(a)		1,980		1,950,874
5.63%, 02/15/26 (Call 05/31/22)^(a)		3,602		3,602,000
Holly Energy Partners LP/Holly Energy Finance Corp.
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		2,339		2,225,348
6.38%, 04/15/27		935		953,700
Howard Midstream Energy Partners LLC, 6.75%, 01/15/27 (Call 01/15/24)^(a)		1,855		1,797,245
ITT Holdings LLC, 6.50%, 08/01/29 (Call 08/01/24)^(a)(b)		5,680		5,026,800
Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 02/28/25 (Call 08/12/22)^(a)(b)		520		527,800
New Fortress Energy Inc.
6.50%, 09/30/26 (Call 03/31/23)^(a)(b)		6,790		6,571,498
6.75%, 09/15/25 (Call 09/15/22)^(a)(b)		6,975		6,857,401
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)^(a)		9,617		9,060,031
NGL Energy Partners LP/NGL Energy Finance Corp.
6.13%, 03/01/25 (Call 05/31/22)^(b)		1,876		1,573,793
7.50%, 11/01/23 (Call 05/31/22)		2,106		1,953,315
7.50%, 04/15/26 (Call 05/31/22)^(b)		1,788		1,497,450
Northriver Midstream Finance LP, 5.63%, 02/15/26 (Call 10/15/22)^(a)(b)		2,588		2,523,300
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)		2,853		2,735,856
5.75%, 10/01/25 (Call 07/01/25)^(b)		2,933		2,918,335
6.00%, 06/01/26 (Call 03/01/26)^(b)		2,486		2,480,133
6.38%, 10/01/30 (Call 04/01/30)^(b)		2,655		2,613,980
Oasis Midstream Partners LP/OMP Finance Corp., 8.00%, 04/01/29 (Call 04/01/24)^(a)(b)		2,150		2,241,375
PBF Logistics LP/PBF Logistics Finance Corp., 6.88%, 05/15/23 (Call 05/31/22)^(b)		2,205		2,199,598
Rattler Midstream LP, 5.63%, 07/15/25 (Call 07/15/22)^(a)(b)		2,144		2,146,787
Rockies Express Pipeline LLC
3.60%, 05/15/25 (Call 04/15/25)^(a)		2,192		2,081,764
4.80%, 05/15/30 (Call 02/15/30)^(a)		1,406		1,287,819
4.95%, 07/15/29 (Call 04/15/29)^(a)(b)		2,744		2,568,466
6.88%, 04/15/40^(a)(b)		2,428		2,306,600


Security	Par (000)		Value

Pipelines (continued)
7.50%, 07/15/38^(a)	$	1,208	$	1,192,296
Southeast Supply Header LLC, 4.25%, 06/15/24 (Call 03/15/24)^(a)(b)		2,030		2,004,272
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 8.50%, 10/15/26 (Call 10/15/23)^(a)		4,070		3,799,874
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.50%, 01/15/28 (Call 01/15/23)^(a)(b)		4,086		3,808,806
6.00%, 03/01/27 (Call 03/01/23)^(a)		2,217		2,128,320
6.00%, 12/31/30 (Call 12/31/25)^(a)(b)		3,356		3,104,300
6.00%, 09/01/31 (Call 09/01/26)^(a)		2,300		2,098,750
7.50%, 10/01/25 (Call 10/01/22)^(a)		2,397		2,446,186
Targa Resources Partners LP/Targa Resources Partners Finance Corp., 6.50%, 07/15/27 (Call 07/15/22)		2,467		2,541,355
TransMontaigne Partners LP/TLP Finance Corp., 6.13%, 02/15/26 (Call 05/16/22)^(b)		1,603		1,568,936
Venture Global Calcasieu Pass LLC
3.88%, 11/01/33 (Call 05/01/33)^(a)(b)		5,925		5,155,046
3.88%, 08/15/29 (Call 02/15/29)^(a)		5,585		5,096,312
4.13%, 08/15/31 (Call 02/15/31)^(a)		6,815		6,184,612
Western Midstream Operating LP
3.60%, 02/01/25 (Call 01/01/25)		4,011		3,835,759
3.95%, 06/01/25 (Call 03/01/25)		1,718		1,657,054
4.50%, 03/01/28 (Call 12/01/27)		1,488		1,418,793
4.55%, 02/01/30 (Call 11/01/29)^(b)		5,277		4,847,927
4.65%, 07/01/26 (Call 04/01/26)		2,210		2,179,613
4.75%, 08/15/28 (Call 05/15/28)^(b)		1,901		1,851,099
5.30%, 03/01/48 (Call 09/01/47)		3,312		2,873,160
5.45%, 04/01/44 (Call 10/01/43)		3,283		2,995,738
5.50%, 08/15/48 (Call 02/15/48)		1,800		1,602,000
5.75%, 02/01/50 (Call 08/01/49)		4,806		4,234,855


				321,098,868

Real Estate — 0.6%
Cushman & Wakefield US Borrower LLC, 6.75%, 05/15/28 (Call 05/15/23)^(a)		2,607		2,659,192
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (Call 05/31/22)^(a)		2,493		2,473,455
Greystar Real Estate Partners LLC, 5.75%, 12/01/25 (Call 05/31/22)^(a)		2,113		2,122,192
Howard Hughes Corp. (The)
4.13%, 02/01/29 (Call 02/01/24)^(a)(b)		3,279		2,952,358
4.38%, 02/01/31 (Call 02/01/26)^(a)(b)		2,676		2,380,088
5.38%, 08/01/28 (Call 08/01/23)^(a)		3,430		3,324,596
Hunt Cos. Inc., 5.25%, 04/15/29 (Call 04/15/24)^(a)		3,125		2,886,750
Kennedy-Wilson Inc.
4.75%, 03/01/29 (Call 03/01/24)^(b)		2,690		2,481,310
4.75%, 02/01/30 (Call 09/01/24)^(b)		2,735		2,468,337
5.00%, 03/01/31 (Call 03/01/26)^(b)		2,874		2,593,871
Newmark Group Inc., 6.13%, 11/15/23 (Call 10/15/23)		2,069		2,108,725
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)		1,000		997,500
5.25%, 04/15/30 (Call 04/15/25)^(a)		4,810		3,897,014
5.75%, 01/15/29 (Call 01/15/24)^(a)		4,629		3,880,352
WeWork Companies Inc., 7.88%, 05/01/25^(a)(b)		3,292		2,773,510
WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)^(a)(b)		2,730		2,214,712


				42,213,962


Security	Par (000)		Value

Real Estate Investment Trusts — 3.4%
American Finance Trust Inc./American Finance Operating Partner LP, 4.50%, 09/30/28 (Call 06/30/28)^(a)(b)	$	2,325	$	1,979,598
Apollo Commercial Real Estate Finance Inc., 4.63%, 06/15/29 (Call 06/15/24)^(a)		2,335		2,031,450
Blackstone Mortgage Trust Inc., 3.75%, 01/15/27 (Call 10/15/26)^(a)		2,030		1,852,375
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL
4.50%, 04/01/27 (Call 10/01/23)^(a)		3,415		3,091,975
5.75%, 05/15/26 (Call 05/15/22)^(a)(b)		5,080		4,918,100
CTR Partnership LP/CareTrust Capital Corp., 3.88%, 06/30/28 (Call 03/30/28)^(a)(b)		1,885		1,705,925
Diversified Healthcare Trust
4.38%, 03/01/31 (Call 09/01/30)		2,373		1,842,041
4.75%, 05/01/24 (Call 11/01/23)		1,205		1,144,750
4.75%, 02/15/28 (Call 08/15/27)^(b)		2,723		2,320,677
9.75%, 06/15/25 (Call 06/15/22)^(b)		4,919		5,152,652
GEO Group Inc. (The)
5.13%, 04/01/23 (Call 05/31/22)		1,142		1,089,183
5.88%, 10/15/24 (Call 05/31/22)		672		598,080
6.00%, 04/15/26 (Call 05/31/22)^(b)		1,166		940,962
Global Net Lease Inc./Global Net Lease Operating Partnership LP, 3.75%, 12/15/27 (Call 09/15/27)^(a)		2,216		1,989,324
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/26 (Call 03/15/26)^(a)		5,085		4,670,725
3.75%, 09/15/30^(a)(b)		1,465		1,263,562
6.00%, 04/15/25 (Call 05/31/22)^(a)(b)		1,552		1,575,280
Iron Mountain Inc.
4.50%, 02/15/31 (Call 02/15/26)^(a)		5,080		4,352,900
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		4,408		4,209,640
4.88%, 09/15/29 (Call 09/15/24)^(a)(b)		4,881		4,471,216
5.00%, 07/15/28 (Call 07/15/23)^(a)(b)		2,256		2,137,176
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		3,491		3,325,282
5.25%, 07/15/30 (Call 07/15/25)^(a)(b)		7,090		6,498,269
5.63%, 07/15/32 (Call 07/15/26)^(a)(b)		2,979		2,693,671
Iron Mountain Information Management Services Inc., 5.00%, 07/15/32 (Call 07/15/27)^(a)(b)		3,565		3,141,407
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)^(b)		2,605		2,482,904
4.75%, 10/01/24 (Call 07/01/24)^(b)		3,868		3,761,630
5.50%, 02/15/26 (Call 08/15/22)^(b)		1,555		1,513,590
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(a)(b)		3,476		3,195,139
4.75%, 06/15/29 (Call 06/15/24)^(a)(b)		2,760		2,475,941
5.25%, 10/01/25 (Call 05/16/22)^(a)(b)		1,274		1,251,705
MPT Operating Partnership LP/MPT Finance Corp.
3.50%, 03/15/31 (Call 03/15/26)^(b)		6,945		5,898,805
4.63%, 08/01/29 (Call 08/01/24)		4,059		3,750,634
5.00%, 10/15/27 (Call 10/15/22)^(b)		7,059		6,773,181
5.25%, 08/01/26 (Call 05/31/22)		1,386		1,388,093
New Residential Investment Corp., 6.25%, 10/15/25 (Call 10/15/22)^(a)		2,594		2,470,785
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.88%, 05/15/29 (Call 05/15/24)^(a)		4,430		4,057,840
5.88%, 10/01/28 (Call 10/01/23)^(a)		3,049		2,957,530
7.50%, 06/01/25 (Call 06/01/22)^(a)(b)		2,230		2,307,381


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
RHP Hotel Properties LP/RHP Finance Corp.
4.50%, 02/15/29 (Call 02/15/24)^(a)(b)	$	2,445	$	2,208,984
4.75%, 10/15/27 (Call 10/15/22)^(b)		3,494		3,258,015
RLJ Lodging Trust LP
3.75%, 07/01/26 (Call 07/01/23)^(a)(b)		1,865		1,725,125
4.00%, 09/15/29 (Call 09/15/24)^(a)(b)		2,310		2,062,206
SBA Communications Corp.
3.13%, 02/01/29 (Call 02/01/24)		7,125		6,111,469
3.88%, 02/15/27 (Call 02/15/23)^(b)		6,738		6,395,710
Service Properties Trust
3.95%, 01/15/28 (Call 07/15/27)		1,998		1,583,415
4.35%, 10/01/24 (Call 09/01/24)		4,009		3,714,098
4.38%, 02/15/30 (Call 08/15/29)^(b)		2,120		1,627,058
4.50%, 06/15/23 (Call 12/15/22)		1,972		1,922,700
4.50%, 03/15/25 (Call 09/15/24)		1,764		1,596,420
4.65%, 03/15/24 (Call 09/15/23)		1,165		1,098,012
4.75%, 10/01/26 (Call 08/01/26)		2,391		2,056,260
4.95%, 02/15/27 (Call 08/15/26)^(b)		1,983		1,718,413
4.95%, 10/01/29 (Call 07/01/29)		1,755		1,402,793
5.25%, 02/15/26 (Call 08/15/25)		1,746		1,553,940
5.50%, 12/15/27 (Call 09/15/27)		2,535		2,306,850
7.50%, 09/15/25 (Call 06/15/25)		3,911		3,903,686
Starwood Property Trust Inc.
3.63%, 07/15/26 (Call 01/15/26)^(a)(b)		2,250		2,053,125
3.75%, 12/31/24 (Call 09/30/24)^(a)(b)		1,900		1,828,389
4.38%, 01/15/27 (Call 07/15/26)^(a)		2,545		2,374,205
4.75%, 03/15/25 (Call 09/15/24)^(b)		2,724		2,687,789
5.50%, 11/01/23 (Call 08/01/23)^(a)(b)		875		881,563
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
6.00%, 01/15/30 (Call 01/15/25)^(a)		3,590		2,993,863
7.88%, 02/15/25 (Call 05/31/22)^(a)		10,693		10,880,127
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
4.75%, 04/15/28 (Call 04/15/24)^(a)		2,260		2,017,050
6.50%, 02/15/29 (Call 02/15/24)^(a)(b)		5,660		4,884,071
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 05/31/22)^(a)		2,552		2,449,971
3.75%, 02/15/27 (Call 02/15/23)^(a)(b)		2,935		2,706,657
3.88%, 02/15/29^(a)		3,914		3,711,521
4.13%, 08/15/30 (Call 02/15/25)^(a)(b)		3,100		2,784,947
4.25%, 12/01/26 (Call 12/01/22)^(a)		4,198		3,978,151
4.50%, 09/01/26^(a)		2,351		2,337,599
4.50%, 01/15/28		1,468		1,454,304
4.63%, 06/15/25^(a)		4,206		4,184,970
4.63%, 12/01/29 (Call 12/01/24)^(a)		4,012		3,767,268
5.63%, 05/01/24^(a)		5,164		5,215,640
5.75%, 02/01/27^(a)		3,934		4,068,759
XHR LP
4.88%, 06/01/29 (Call 06/01/24)^(a)(b)		2,035		1,873,950
6.38%, 08/15/25 (Call 08/15/22)^(a)(b)		2,025		2,049,118


				230,709,569

Retail — 4.9%
1011778 BC ULC/New Red Finance Inc.
3.50%, 02/15/29 (Call 02/15/24)^(a)		4,230		3,735,238
3.88%, 01/15/28 (Call 09/15/22)^(a)		6,842		6,294,640
4.00%, 10/15/30 (Call 10/15/25)^(a)		14,394		12,304,711
4.38%, 01/15/28 (Call 11/15/22)^(a)(b)		3,772		3,441,950
5.75%, 04/15/25 (Call 05/30/22)^(a)(b)		1,693		1,729,273


Security	Par (000)		Value

Retail (continued)
99 Escrow Issuer Inc., 7.50%, 01/15/26 (Call 01/15/23)^(a)	$	1,800	$	1,170,000
Abercrombie & Fitch Management Co., 8.75%, 07/15/25 (Call 07/15/22)^(a)(b)		942		984,617
Academy Ltd., 6.00%, 11/15/27 (Call 11/15/23)^(a)(b)		1,402		1,398,495
Ambience Merger Sub Inc., 7.13%, 07/15/29 (Call 07/15/24)^(a)		2,605		1,940,204
Arko Corp., 5.13%, 11/15/29 (Call 11/15/24)^(a)		2,155		1,907,175
Asbury Automotive Group Inc.
4.50%, 03/01/28 (Call 03/01/23)^(b)		1,510		1,408,075
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		3,775		3,397,991
4.75%, 03/01/30 (Call 03/01/25)^(b)		2,532		2,269,229
5.00%, 02/15/32 (Call 11/15/26)^(a)(b)		2,955		2,622,562
At Home Group Inc., 4.88%, 07/15/28 (Call 07/15/23)^(a)(b)		1,235		1,020,419
Bath & Body Works Inc.
5.25%, 02/01/28^(b)		2,351		2,256,960
6.63%, 10/01/30 (Call 10/01/25)^(a)(b)		4,434		4,410,079
6.69%, 01/15/27		1,066		1,098,065
6.75%, 07/01/36^(b)		3,553		3,446,410
6.88%, 11/01/35		4,938		4,824,377
6.95%, 03/01/33^(b)		1,755		1,668,127
7.50%, 06/15/29 (Call 06/15/24)^(b)		1,971		2,037,659
9.38%, 07/01/25^(a)(b)		1,762		1,982,250
BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27 (Call 04/01/23), (8.50% PIK)^(a)(c)		1,901		1,625,355
Beacon Roofing Supply Inc.
4.13%, 05/15/29 (Call 05/15/24)^(a)		2,225		1,958,289
4.50%, 11/15/26 (Call 11/15/22)^(a)		954		928,723
Bed Bath & Beyond Inc.
3.75%, 08/01/24 (Call 05/01/24)^(b)		1,080		995,274
5.17%, 08/01/44 (Call 02/01/44)		3,392		1,876,861
Bloomin’ Brands Inc./OSI Restaurant Partners LLC, 5.13%, 04/15/29 (Call 04/15/24)^(a)		1,458		1,355,940
BlueLinx Holdings Inc., 6.00%, 11/15/29 (Call 11/15/24)^(a)		1,475		1,334,875
Brinker International Inc.
3.88%, 05/15/23^(b)		468		465,660
5.00%, 10/01/24 (Call 07/01/24)^(a)(b)		1,728		1,723,972
Carrols Restaurant Group Inc., 5.88%, 07/01/29 (Call 07/01/24)^(a)(b)		1,550		1,174,125
Carvana Co.
4.88%, 09/01/29 (Call 09/01/24)^(a)(b)		3,455		2,521,459
5.50%, 04/15/27 (Call 04/15/24)^(a)(b)		2,757		2,206,289
5.63%, 10/01/25 (Call 10/01/22)^(a)(b)		2,785		2,411,977
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		2,695		2,141,946
10.25%, 05/01/30^(a)		5,040		4,876,200
CEC Entertainment LLC, 6.75%, 05/01/26 (Call 05/01/23)^(a)(b)		3,301		3,102,940
Dave & Buster’s Inc., 7.63%, 11/01/25 (Call 11/01/22)^(a)(b)		1,499		1,555,213
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/10/22)^(a)(b)		3,928		3,818,055
8.50%, 10/30/25 (Call 05/30/22)^(a)(b)		2,800		2,800,420
Ferrellgas LP/Ferrellgas Finance Corp.
5.38%, 04/01/26 (Call 04/01/23)^(a)		3,353		3,034,465
5.88%, 04/01/29 (Call 04/01/24)^(a)		4,110		3,586,776


Security	Par (000)		Value

Retail (continued)
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc.
4.63%, 01/15/29 (Call 01/15/25)^(a)	$	4,795	$	4,350,216
6.75%, 01/15/30 (Call 01/15/25)^(a)		6,070		5,251,278
FirstCash Inc.
4.63%, 09/01/28 (Call 09/01/23)^(a)		2,207		2,008,370
5.63%, 01/01/30 (Call 01/01/25)^(a)(b)		2,640		2,455,200
Foot Locker Inc., 4.00%, 10/01/29 (Call 10/01/24)^(a)(b)		2,020		1,681,650
Foundation Building Materials Inc., 6.00%, 03/01/29 (Call 03/01/24)^(a)(b)		2,095		1,704,806
Gap Inc. (The)
3.63%, 10/01/29 (Call 10/01/24)^(a)(b)		3,740		3,042,135
3.88%, 10/01/31 (Call 10/01/26)^(a)(b)		3,380		2,694,536
Group 1 Automotive Inc., 4.00%, 08/15/28 (Call 08/15/23)^(a)(b)		3,613		3,250,724
Guitar Center Inc., 8.50%, 01/15/26 (Call 01/15/23)^(a)		2,840		2,846,248
GYP Holdings III Corp., 4.63%, 05/01/29 (Call 05/01/24)^(a)		1,561		1,383,436
IRB Holding Corp., 7.00%, 06/15/25 (Call 06/15/22)^(a)(b)		3,450		3,550,654
Ken Garff Automotive LLC, 4.88%, 09/15/28 (Call 09/15/23)^(a)(b)		2,067		1,881,053
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		2,682		2,675,295
LBM Acquisition LLC, 6.25%, 01/15/29 (Call 01/15/24)^(a)(b)		3,865		3,145,144
LCM Investments Holdings II LLC, 4.88%, 05/01/29 (Call 05/01/24)^(a)		5,013		4,392,992
Lithia Motors Inc.
3.88%, 06/01/29 (Call 06/01/24)^(a)(b)		3,550		3,205,543
4.38%, 01/15/31 (Call 10/15/25)^(a)(b)		3,308		3,035,090
4.63%, 12/15/27 (Call 12/15/22)^(a)(b)		1,515		1,443,038
LSF9 Atlantis Holdings LLC/Victra Finance Corp.,
7.75%, 02/15/26 (Call 02/15/23)^(a)(b)		4,125		3,721,121
Macy’s Retail Holdings LLC
4.30%, 02/15/43 (Call 08/15/42)		1,285		883,438
4.50%, 12/15/34 (Call 06/15/34)^(b)		1,697		1,323,507
5.13%, 01/15/42 (Call 07/15/41)		1,332		989,010
5.88%, 04/01/29 (Call 04/01/24)^(a)(b)		2,330		2,210,285
5.88%, 03/15/30 (Call 03/15/25)^(a)		2,010		1,886,084
6.13%, 03/15/32 (Call 03/15/27)^(a)		2,070		1,914,750
Marks & Spencer PLC, 7.13%, 12/01/37^(a)(b)		1,375		1,389,823
Michaels Companies Inc (The)
5.25%, 05/01/28 (Call 11/01/23)^(a)(b)		3,680		3,162,666
7.88%, 05/01/29 (Call 05/01/24)^(a)(b)		6,515		5,130,562
Murphy Oil USA Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		2,120		1,862,144
4.75%, 09/15/29 (Call 09/15/24)		2,637		2,498,558
5.63%, 05/01/27 (Call 05/31/22)^(b)		970		956,663
NMG Holding Co. Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (Call 04/01/23)^(a)(b)		5,290		5,251,542
Nordstrom Inc.
2.30%, 04/08/24 (Call 05/16/22)		255		244,163
4.00%, 03/15/27 (Call 12/15/26)^(b)		1,481		1,372,506
4.25%, 08/01/31 (Call 05/01/31)^(b)		2,185		1,851,976
4.38%, 04/01/30 (Call 01/01/30)^(b)		2,600		2,262,702
5.00%, 01/15/44 (Call 07/15/43)^(b)		4,605		3,817,084
6.95%, 03/15/28^(b)		1,500		1,531,770
Papa John’s International Inc., 3.88%, 09/15/29 (Call 09/15/24)^(a)(b)		1,715		1,500,111


Security	Par (000)		Value

Retail (continued)
Park River Holdings Inc.
5.63%, 02/01/29 (Call 02/01/24)^(a)	$	2,040	$	1,565,908
6.75%, 08/01/29 (Call 08/01/24)^(a)(b)		1,480		1,185,024
Party City Holdings Inc., 8.75%, 02/15/26 (Call 08/15/23)^(a)(b)		3,750		3,445,312
Patrick Industries Inc.
4.75%, 05/01/29 (Call 05/01/24)^(a)(b)		1,715		1,470,613
7.50%, 10/15/27 (Call 10/15/22)^(a)		1,107		1,118,070
Penske Automotive Group Inc.
3.50%, 09/01/25 (Call 09/01/22)^(b)		2,170		2,094,050
3.75%, 06/15/29 (Call 06/15/24)^(b)		2,585		2,204,514
PetSmart Inc./PetSmart Finance Corp.
4.75%, 02/15/28 (Call 02/15/24)^(a)		5,500		5,115,000
7.75%, 02/15/29 (Call 02/15/24)^(a)(b)		5,820		5,790,900
QVC Inc.
4.38%, 03/15/23		2,351		2,351,000
4.38%, 09/01/28 (Call 06/01/28)^(b)		2,441		2,074,142
4.45%, 02/15/25 (Call 11/15/24)^(b)		2,909		2,821,468
4.75%, 02/15/27 (Call 11/15/26)^(b)		3,301		2,954,362
4.85%, 04/01/24^(b)		2,670		2,654,781
5.45%, 08/15/34 (Call 02/15/34)^(b)		1,917		1,535,996
5.95%, 03/15/43		1,321		1,028,669
Rite Aid Corp.
7.50%, 07/01/25 (Call 07/01/22)^(a)		2,704		2,315,030
8.00%, 11/15/26 (Call 01/15/23)^(a)(b)		4,482		3,766,897
Sally Holdings LLC/Sally Capital Inc.
5.63%, 12/01/25 (Call 05/31/22)^(b)		3,037		3,048,389
8.75%, 04/30/25 (Call 05/31/22)^(a)		415		435,231
Sizzling Platter LLC/Sizzling Platter Finance Corp.,
8.50%, 11/28/25 (Call 11/28/22)^(a)		1,817		1,654,406
Sonic Automotive Inc.
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		2,881		2,478,414
4.88%, 11/15/31 (Call 11/15/26)^(a)		2,924		2,496,014
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/26 (Call 09/30/22)^(a)		3,587		3,496,608
SRS Distribution Inc.
4.63%, 07/01/28 (Call 07/01/24)^(a)(b)		3,050		2,792,305
6.00%, 12/01/29 (Call 12/01/24)^(a)(b)		4,020		3,527,550
6.13%, 07/01/29 (Call 07/01/24)^(a)(b)		2,388		2,107,362
Staples Inc.
7.50%, 04/15/26 (Call 05/31/22)^(a)		9,281		8,863,355
10.75%, 04/15/27 (Call 05/31/22)^(a)(b)		4,840		4,288,240
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.00%, 06/01/31 (Call 06/01/26)^(a)(b)		3,035		2,759,877
5.88%, 03/01/27 (Call 05/31/22)		1,560		1,560,000
Superior Plus LP/Superior General Partner Inc., 4.50%, 03/15/29 (Call 03/15/24)^(a)(b)		2,890		2,640,737
TPro Acquisition Corp., 11.00%, 10/15/24 (Call 05/31/22)^(a)(b)		1,445		1,514,548
Victoria’s Secret & Co., 4.63%, 07/15/29 (Call 07/15/24)^(a)(b)		2,715		2,227,277
White Cap Buyer LLC, 6.88%, 10/15/28 (Call 10/15/23)^(a)		3,340		3,060,275
Yum! Brands Inc.
3.63%, 03/15/31 (Call 12/15/30)		5,113		4,393,401
3.88%, 11/01/23 (Call 08/01/23)		605		610,082
4.63%, 01/31/32 (Call 10/01/26)^(b)		6,017		5,467,949
4.75%, 01/15/30 (Call 10/15/29)^(a)		3,634		3,456,842
5.35%, 11/01/43 (Call 05/01/43)		1,296		1,185,840


Security	Par (000)		Value

Retail (continued)
5.38%, 04/01/32 (Call 04/01/27)	$	4,759	$	4,547,891
6.88%, 11/15/37		1,470		1,554,525


				328,260,047

Savings & Loans — 0.0%
New York Community Bancorp Inc., 5.90%, 11/06/28 (Call 11/06/23), (3 mo. LIBOR US + 2.780%)^(b)(d)		990		1,022,645


Semiconductors — 0.2%
Amkor Technology Inc., 6.63%, 09/15/27 (Call 05/31/22)^(a)(b)		2,291		2,331,093
ams-OSRAM AG, 7.00%, 07/31/25 (Call 07/31/22)^(a)(b)		2,485		2,515,342
Entegris Inc.
3.63%, 05/01/29 (Call 05/01/24)^(a)(b)		1,911		1,681,145
4.38%, 04/15/28 (Call 04/15/23)^(a)(b)		1,870		1,734,425
ON Semiconductor Corp., 3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		2,725		2,527,996
Synaptics Inc., 4.00%, 06/15/29 (Call 06/15/24)^(a)		1,836		1,618,654


				12,408,655

Software — 2.1%
ACI Worldwide Inc., 5.75%, 08/15/26 (Call 05/31/22)^(a)		1,174		1,185,740
Black Knight InfoServ LLC, 3.63%, 09/01/28 (Call 09/01/23)^(a)(b)		4,243		3,935,170
Boxer Parent Co. Inc.
7.13%, 10/02/25 (Call 06/01/22)^(a)(b)		3,057		3,118,140
9.13%, 03/01/26 (Call 05/10/22)^(a)		1,342		1,358,372
Camelot Finance SA, 4.50%, 11/01/26 (Call 11/01/22)^(a)(b)		3,510		3,299,400
Castle U.S. Holding Crop., 9.50%, 02/15/28 (Call 02/15/23)^(a)		1,679		1,540,483
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)^(b)		2,024		2,034,120
5.00%, 10/15/24 (Call 07/15/24)^(b)		2,731		2,809,516
5.25%, 05/15/29 (Call 05/15/24)^(a)(b)		2,552		2,572,161
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 05/10/22)^(a)		5,871		5,856,322
Clarivate Science Holdings Corp.
3.88%, 07/01/28 (Call 06/30/24)^(a)(b)		4,455		3,964,950
4.88%, 07/01/29 (Call 06/30/24)^(a)(b)		4,255		3,749,846
Consensus Cloud Solutions Inc.
6.00%, 10/15/26 (Call 10/15/23)^(a)		1,760		1,672,000
6.50%, 10/15/28 (Call 10/15/26)^(a)		2,425		2,279,500
Dun & Bradstreet Corp. (The), 5.00%, 12/15/29 (Call 12/15/24)^(a)(b)		2,205		2,050,650
Elastic NV, 4.13%, 07/15/29 (Call 07/15/24)^(a)(b)		2,680		2,398,600
Fair Isaac Corp.
4.00%, 06/15/28 (Call 12/15/22)^(a)		3,824		3,493,683
5.25%, 05/15/26 (Call 02/15/26)^(a)(b)		1,893		1,902,465
Helios Software Holdings Inc./ION Corporate Solutions Finance Sarl, 4.63%, 05/01/28 (Call 05/01/24)^(a)		2,070		1,821,600
MicroStrategy Inc., 6.13%, 06/15/28 (Call 06/15/24)^(a)(b)		2,610		2,391,204
Minerva Merger Sub Inc., 6.50%, 02/15/30 (Call 02/15/25)^(a)(b)		11,450		10,539,038
MSCI Inc.
3.25%, 08/15/33 (Call 08/15/27)^(a)(b)		3,075		2,598,375
3.63%, 09/01/30 (Call 03/01/25)^(a)		4,563		4,024,110
3.63%, 11/01/31 (Call 11/01/26)^(a)(b)		3,015		2,645,663
3.88%, 02/15/31 (Call 06/01/25)^(a)(b)		4,411		3,980,927
4.00%, 11/15/29 (Call 11/15/24)^(a)(b)		4,973		4,580,382


Security	Par (000)		Value

Software (continued)
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(a)(b)	$	4,006	$	3,648,599
3.88%, 12/01/29 (Call 12/01/24)^(a)(b)		4,120		3,661,279
Open Text Holdings Inc.
4.13%, 02/15/30 (Call 02/15/25)^(a)(b)		4,364		3,873,050
4.13%, 12/01/31 (Call 12/01/26)^(a)(b)		3,084		2,673,304
Playtika Holding Corp., 4.25%, 03/15/29 (Call 03/15/24)^(a)		2,870		2,585,755
PTC Inc.
3.63%, 02/15/25 (Call 05/31/22)^(a)(b)		2,044		1,980,125
4.00%, 02/15/28 (Call 02/15/23)^(a)		2,728		2,528,338
Rackspace Technology Global Inc.
3.50%, 02/15/28 (Call 02/15/24)^(a)(b)		2,520		2,179,472
5.38%, 12/01/28 (Call 12/01/23)^(a)(b)		2,780		2,264,949
ROBLOX Corp., 3.88%, 05/01/30 (Call 11/01/24)^(a)(b)		4,685		4,029,100
Rocket Software Inc., 6.50%, 02/15/29 (Call 02/15/24)^(a)		2,716		2,325,575
Skillz Inc., 10.25%, 12/15/26 (Call 12/15/23)^(a)(b)		1,620		1,182,600
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 05/31/22)^(a)(b)		9,596		9,404,464
Twilio Inc.
3.63%, 03/15/29 (Call 03/15/24)		2,343		2,067,557
3.88%, 03/15/31 (Call 03/15/26)^(b)		2,190		1,882,239
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 05/31/22)^(a)		8,759		7,718,869
Ziff Davis Inc., 4.63%, 10/15/30 (Call 10/15/25)^(a)(b)		2,978		2,655,453
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29 (Call 02/01/24)^(a)		3,398		3,007,162


				141,470,307

Telecommunications — 7.3%
Altice France Holding SA
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		5,845		4,826,976
10.50%, 05/15/27 (Call 05/15/22)^(a)		7,322		7,422,678
Altice France SA, 5.50%, 10/15/29 (Call 10/15/24)^(a)(b)		9,535		8,104,750
Altice France SA/France
5.13%, 01/15/29 (Call 09/15/23)^(a)		2,215		1,879,616
5.13%, 07/15/29 (Call 04/15/24)^(a)		12,470		10,556,603
5.50%, 01/15/28 (Call 09/15/22)^(a)(b)		5,280		4,653,000
8.13%, 02/01/27 (Call 05/10/22)^(a)		7,959		8,018,692
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)^(a)(b)		4,795		4,448,578
British Telecommunications PLC
4.25%, 11/23/81 (Call 11/23/26)^(a)(b)(d)		2,150		2,004,983
4.88%, 11/23/81 (Call 08/23/31)^(a)(b)(d)		2,650		2,431,375
C&W Senior Financing DAC, 6.88%, 09/15/27 (Call 09/15/22)^(a)(b)		5,833		5,659,818
Ciena Corp., 4.00%, 01/31/30 (Call 01/31/25)^(a)(b)		2,130		1,942,304
CommScope Inc.
4.75%, 09/01/29 (Call 09/01/24)^(a)(b)		6,110		5,108,510
6.00%, 03/01/26 (Call 05/31/22)^(a)		7,436		7,013,635
7.13%, 07/01/28 (Call 07/01/23)^(a)(b)		3,331		2,656,473
8.25%, 03/01/27 (Call 05/31/22)^(a)		4,705		3,999,250
CommScope Technologies LLC
5.00%, 03/15/27 (Call 05/10/22)^(a)(b)		3,940		3,092,900
6.00%, 06/15/25 (Call 05/10/22)^(a)(b)		5,864		5,131,000
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(a)		10,252		9,970,070
Consolidated Communications Inc.
5.00%, 10/01/28 (Call 10/01/23)^(a)		2,070		1,691,604
6.50%, 10/01/28 (Call 10/01/23)^(a)(b)		3,410		2,971,279


Security	Par (000)		Value

Telecommunications (continued)
DKT Finance ApS, 9.38%, 06/17/23 (Call 05/10/22)^(a)(b)	$	1,673	$	1,658,780
Embarq Corp., 8.00%, 06/01/36		6,916		6,224,400
Frontier Communications Holdings LLC
5.00%, 05/01/28 (Call 05/01/24)^(a)		7,290		6,652,453
5.88%, 10/15/27 (Call 10/15/23)^(a)(b)		6,297		6,029,378
5.88%, 11/01/29 (Call 11/01/24)		3,925		3,407,391
6.00%, 01/15/30 (Call 10/15/24)^(a)(b)		4,860		4,228,637
6.75%, 05/01/29 (Call 05/01/24)^(a)		5,322		4,795,654
Hughes Satellite Systems Corp.
5.25%, 08/01/26		3,476		3,380,410
6.63%, 08/01/26^(b)		3,679		3,660,605
Iliad Holding SAS
6.50%, 10/15/26 (Call 10/15/23)^(a)		5,635		5,416,418
7.00%, 10/15/28 (Call 10/15/24)^(a)(b)		4,370		4,129,650
Intelsat Jackson Holdings SA, 6.50%, 03/15/30 (Call 03/15/25)^(a)(b)		14,800		13,934,052
Intrado Corp., 8.50%, 10/15/25 (Call 05/31/22)^(a)(b)		3,309		2,945,010
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(a)(b)(d)		2,440		2,458,300
Level 3 Financing Inc.
3.63%, 01/15/29 (Call 01/15/24)^(a)		4,765		3,867,083
3.75%, 07/15/29 (Call 01/15/24)^(a)(b)		4,420		3,591,250
4.25%, 07/01/28 (Call 07/01/23)^(a)(b)		5,649		4,773,405
4.63%, 09/15/27 (Call 09/15/22)^(a)		4,795		4,309,506
5.25%, 03/15/26 (Call 05/31/22)^(b)		3,771		3,667,486
5.38%, 05/01/25 (Call 05/31/22)^(b)		3,872		3,838,314
Ligado Networks LLC, 15.50%, 11/01/23, (15.50% PIK)^(a)(c)		16,407		11,082,004
LogMeIn Inc., 5.50%, 09/01/27 (Call 09/01/23)^(a)(b)		4,730		4,138,750
Lumen Technologies Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)		6,198		5,511,819
4.50%, 01/15/29 (Call 01/15/24)^(a)		4,800		3,792,720
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		5,625		5,062,500
5.38%, 06/15/29 (Call 06/15/24)^(a)		4,810		3,916,831
5.63%, 04/01/25 (Call 01/01/25)^(b)		2,394		2,334,150
Series G, 6.88%, 01/15/28^(b)		2,186		2,082,165
Series P, 7.60%, 09/15/39^(b)		2,718		2,372,155
Series U, 7.65%, 03/15/42^(b)		2,301		2,059,626
Series W, 6.75%, 12/01/23		3,015		3,063,994
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(b)		4,630		4,755,010
Millicom International Cellular SA
4.50%, 04/27/31 (Call 04/27/26)^(a)(b)		4,171		3,610,105
5.13%, 01/15/28 (Call 09/15/22)^(a)		1,887		1,778,780
6.25%, 03/25/29 (Call 03/25/24)^(a)(b)		3,080		3,050,988
Nokia OYJ
4.38%, 06/12/27^(b)		2,192		2,126,240
6.63%, 05/15/39^(b)		2,357		2,721,628
Plantronics Inc., 4.75%, 03/01/29 (Call 03/01/24)^(a)(b)		2,160		2,189,052
Qwest Corp., 7.25%, 09/15/25		1,080		1,171,800
Sable International Finance Ltd., 5.75%, 09/07/27 (Call 09/07/22)^(a)		2,006		1,975,288
Sprint Capital Corp.
6.88%, 11/15/28		11,631		12,766,069
8.75%, 03/15/32		9,778		12,426,127
Sprint Corp.
7.13%, 06/15/24		12,055		12,687,887
7.63%, 02/15/25 (Call 11/15/24)		7,506		7,984,507
7.63%, 03/01/26 (Call 11/01/25)^(b)		7,403		8,040,991
7.88%, 09/15/23		20,293		21,307,650


Security	Par (000)		Value

Telecommunications (continued)
Switch Ltd.
3.75%, 09/15/28 (Call 09/15/23)^(a)(b)	$	2,865	$	2,685,938
4.13%, 06/15/29 (Call 06/15/24)^(a)(b)		2,380		2,272,900
Telecom Italia Capital SA
6.00%, 09/30/34		4,944		4,228,443
6.38%, 11/15/33		4,888		4,270,890
7.20%, 07/18/36		4,827		4,354,262
7.72%, 06/04/38		4,689		4,401,799
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)		7,256		7,119,950
Telesat Canada/Telesat LLC
4.88%, 06/01/27 (Call 12/01/22)^(a)		2,013		1,368,840
5.63%, 12/06/26 (Call 12/06/23)^(a)		2,305		1,645,643
6.50%, 10/15/27 (Call 10/15/22)^(a)(b)		2,836		1,211,965
T-Mobile USA Inc.
2.25%, 02/15/26 (Call 02/15/23)^(b)		4,934		4,539,280
2.25%, 02/15/26 (Call 02/15/23)^(a)		3,870		3,560,400
2.63%, 04/15/26 (Call 04/15/23)^(b)		5,701		5,287,678
2.63%, 02/15/29 (Call 02/15/24)		4,855		4,196,953
2.88%, 02/15/31 (Call 02/15/26)		4,466		3,790,964
3.38%, 04/15/29 (Call 04/15/24)		5,967		5,398,106
3.38%, 04/15/29 (Call 04/15/24)^(a)		5,345		4,835,408
3.50%, 04/15/31 (Call 04/15/26)^(b)		6,743		5,976,523
3.50%, 04/15/31 (Call 04/15/26)^(a)		4,970		4,405,060
4.75%, 02/01/28 (Call 02/01/23)		6,593		6,504,950
5.38%, 04/15/27 (Call 05/10/22)^(b)		2,511		2,561,220
United States Cellular Corp., 6.70%, 12/15/33^(b)		2,877		2,971,883
ViaSat Inc.
5.63%, 09/15/25 (Call 05/10/22)^(a)(b)		3,540		3,247,950
5.63%, 04/15/27 (Call 05/10/22)^(a)(b)		2,411		2,236,203
6.50%, 07/15/28 (Call 07/15/23)^(a)		2,344		2,024,630
Viavi Solutions Inc., 3.75%, 10/01/29 (Call 10/01/24)^(a)(b)		1,395		1,255,123
Vmed O2 UK Financing I PLC
4.25%, 01/31/31 (Call 01/31/26)^(a)		6,660		5,629,831
4.75%, 07/15/31 (Call 07/15/26)^(a)		6,775		5,809,563
Vodafone Group PLC
3.25%, 06/04/81 (Call 06/04/26)^(b)(d)		2,605		2,344,500
4.13%, 06/04/81 (Call 03/04/31)^(d)		4,625		3,996,324
5.13%, 06/04/81 (Call 12/04/50)^(d)		4,656		3,889,622
7.00%, 04/04/79 (Call 01/04/29)^(d)		9,678		10,220,258
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)^(a)(b)		6,750		6,429,375
Zayo Group Holdings Inc.
4.00%, 03/01/27 (Call 05/31/22)^(a)(b)		6,743		5,866,410
6.13%, 03/01/28 (Call 03/01/23)^(a)(b)		5,193		4,349,138


				485,449,094

Textiles — 0.0%
Eagle Intermediate Global Holding BV/Ruyi U.S. Finance LLC, 7.50%, 05/01/25 (Call 05/30/22)^(a)(b)		3,153		2,835,808


Toys, Games & Hobbies — 0.2%
Mattel Inc.
3.15%, 03/15/23 (Call 12/15/22)		100		99,500
3.38%, 04/01/26 (Call 04/01/23)^(a)		2,430		2,363,175
3.75%, 04/01/29 (Call 04/01/24)^(a)(b)		2,660		2,533,650
5.45%, 11/01/41 (Call 05/01/41)^(b)		1,487		1,492,576
5.88%, 12/15/27 (Call 12/15/22)^(a)(b)		3,086		3,156,978
6.20%, 10/01/40^(b)		1,282		1,330,075


				10,975,954


Security	Par/ Shares (000)		Value


Transportation — 0.3%
Altera Infrastructure LP/Teekay Offshore Finance Corp., 8.50%, 07/15/23 (Call 05/16/22)^(a)	$	3,582	$	1,970,100
Cargo Aircraft Management Inc., 4.75%, 02/01/28 (Call 02/01/23)^(a)		3,346		3,145,608
Carriage Purchaser Inc., 7.88%, 10/15/29 (Call 10/15/24)^(a)(b)		1,550		1,357,715
Danaos Corp., 8.50%, 03/01/28 (Call 03/01/24)^(a)		2,035		2,100,262
First Student Bidco Inc./First Transit Parent Inc., 4.00%, 07/31/29 (Call 07/31/24)^(a)(b)		3,360		3,007,200
Watco Companies LLC/Watco Finance Corp., 6.50%, 06/15/27 (Call 06/15/23)^(a)(b)		2,861		2,760,865
Western Global Airlines LLC, 10.38%, 08/15/25 (Call 05/15/25)^(a)(b)		1,401		1,436,557
XPO CNW Inc., 6.70%, 05/01/34^(b)		1,408		1,444,589
XPO Logistics Inc., 6.25%, 05/01/25 (Call 05/31/22)^(a)(b)		2,178		2,226,831


				19,449,727

Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(a)(b)(d)		2,143		2,078,710
Fly Leasing Ltd., 7.00%, 10/15/24 (Call 05/31/22)^(a)(b)		2,039		1,794,748
Fortress Transportation and Infrastructure Investors LLC
5.50%, 05/01/28 (Call 05/01/24)^(a)(b)		4,634		3,996,825
6.50%, 10/01/25 (Call 05/31/22)^(a)		3,877		3,692,843
9.75%, 08/01/27 (Call 08/01/23)^(a)(b)		2,117		2,159,890


				13,723,016

Water — 0.0%
Solaris Midstream Holdings LLC, 7.63%, 04/01/26 (Call 04/01/23)^(a)(b)		2,115		2,167,875


Total Corporate Bonds & Notes — 97.2% (Cost: $7,134,216,068)				6,506,838,533


Common Stocks

Advertising — 0.0%
Affinion Group Inc.^(h)		4		—


Energy Equipment & Services — 0.0%
Patterson-UTI Energy Inc.		1		12,659


Security	Shares (000)		Value


Health Care Technology — 0.0%
Quincy Health LLC^(h)		12	$	54,865


Total Common Stocks — 0.0% (Cost $1,371,787)				67,524


Short-Term Investments

Money Market Funds — 23.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.38%^(i)(j)(k)		1,471,829		1,471,829,211
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.34%^(i)(j)		89,440		89,440,000


				1,561,269,211


Total Short-Term Investments — 23.4% (Cost: $1,561,357,938)				1,561,269,211


Total Investments in Securities — 120.6% (Cost: $8,696,945,793)				8,068,175,268

Other Assets, Less Liabilities — (20.6)%				(1,375,515,877	)


Net Assets — 100.0%			$	6,692,659,391

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

^(d)	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.

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

^(f)	Issuer filed for bankruptcy and/or is in default.

^(g)	Non-income producing security.

^(h)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

⁽ⁱ⁾	Affiliate of the Fund.

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

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


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 1.4%
Advantage Sales & Marketing Inc., 6.50%, 11/15/28 (Call 11/15/23)^(a)(b)	$	255	$	233,215
Clear Channel Outdoor Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)^(a)		425		399,678
7.50%, 06/01/29 (Call 06/01/24)^(a)(b)		350		330,124
7.75%, 04/15/28 (Call 04/15/24)^(a)(b)		355		335,716
National CineMedia LLC, 5.88%, 04/15/28 (Call 04/15/23)^(a)		125		107,565
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.25%, 01/15/29 (Call 01/15/24)^(a)		185		164,578
4.63%, 03/15/30 (Call 03/15/25)^(a)(b)		165		147,292
5.00%, 08/15/27 (Call 08/15/22)^(a)		245		232,096
6.25%, 06/15/25 (Call 06/15/22)^(a)		90		91,354
Stagwell Global LLC, 5.63%, 08/15/29 (Call 08/15/24)^(a)		360		317,614


				2,359,232

Aerospace & Defense — 3.7%
Hexcel Corp., 4.20%, 02/15/27 (Call 11/15/26)		150		147,189
Howmet Aerospace Inc.
3.00%, 01/15/29 (Call 11/15/28)		240		209,690
5.13%, 10/01/24 (Call 07/01/24)		345		351,000
5.90%, 02/01/27		225		231,106
5.95%, 02/01/37		200		202,338
6.88%, 05/01/25 (Call 04/01/25)		230		243,075
Maxar Space Robotics LLC, 9.75%, 12/31/23 (Call 05/10/22)^(a)		154		164,199
Spirit AeroSystems Inc.
4.60%, 06/15/28 (Call 03/15/28)^(b)		235		203,099
5.50%, 01/15/25 (Call 10/15/22)^(a)		160		159,482
7.50%, 04/15/25 (Call 05/31/22)^(a)		435		441,790
TransDigm Inc.
4.63%, 01/15/29 (Call 01/15/24)		365		315,386
4.88%, 05/01/29 (Call 05/01/24)^(b)		240		210,185
5.50%, 11/15/27 (Call 11/15/22)		760		697,011
6.25%, 03/15/26 (Call 05/31/22)^(a)		1,240		1,241,587
6.38%, 06/15/26 (Call 05/31/22)		305		301,392
7.50%, 03/15/27 (Call 05/31/22)		180		181,343
8.00%, 12/15/25 (Call 05/31/22)^(a)		300		312,345
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/31/22)^(b)		100		99,611
Triumph Group Inc.
6.25%, 09/15/24 (Call 05/31/22)^(a)		160		154,114
7.75%, 08/15/25 (Call 05/31/22)^(b)		180		175,115
8.88%, 06/01/24 (Call 02/01/23)^(a)		216		223,407


				6,264,464

Agriculture — 0.1%
Darling Ingredients Inc., 5.25%, 04/15/27 (Call 05/10/22)^(a)		175		175,527


Airlines — 0.3%
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)^(a)		390		380,644
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (Call 09/20/23)^(a)(b)		175		184,714


				565,358

Apparel — 0.8%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)		305		302,295
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		280		273,700
Kontoor Brands Inc., 4.13%, 11/15/29 (Call 11/15/24)^(a)(b)		129		112,750
Levi Strauss & Co., 3.50%, 03/01/31 (Call 03/01/26)^(a)(b)		165		143,588


Security	Par (000)		Value

Apparel (continued)
Under Armour Inc., 3.25%, 06/15/26 (Call 03/15/26)	$	200	$	184,698
William Carter Co. (The), 5.63%, 03/15/27 (Call 05/31/22)^(a)		160		159,411
Wolverine World Wide Inc., 4.00%, 08/15/29 (Call 08/15/24)^(a)(b)		200		170,086


				1,346,528

Auto Manufacturers — 0.3%
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 (Call 11/01/24)^(a)		375		377,786
Wabash National Corp., 4.50%, 10/15/28 (Call 10/15/24)^(a)		160		133,840


				511,626

Auto Parts & Equipment — 1.0%
American Axle & Manufacturing Inc.
5.00%, 10/01/29 (Call 10/01/24)^(b)		200		172,334
6.25%, 03/15/26 (Call 05/10/22)^(b)		52		50,202
6.50%, 04/01/27 (Call 05/31/22)^(b)		155		145,004
6.88%, 07/01/28 (Call 07/01/23)^(b)		125		117,680
Cooper-Standard Automotive Inc., 5.63%, 11/15/26 (Call 05/16/22)^(a)		120		56,193
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 05/30/22)^(a)		95		94,512
Dana Inc.
4.25%, 09/01/30 (Call 05/01/26)		145		124,619
5.38%, 11/15/27 (Call 11/15/22)		135		127,738
5.63%, 06/15/28 (Call 06/15/23)^(b)		150		143,136
Tenneco Inc.
5.00%, 07/15/26 (Call 05/31/22)^(b)		135		129,434
5.13%, 04/15/29 (Call 04/15/24)^(a)		275		267,875
7.88%, 01/15/29 (Call 01/15/24)^(a)		190		191,885


				1,620,612

Banks — 0.4%
Commerzbank AG, 8.13%, 09/19/23^(a)		350		366,114
Dresdner Funding Trust I, 8.15%, 06/30/31 (Call 06/30/29)^(a)		325		390,809


				756,923

Beverages — 0.1%
Primo Water Holdings Inc., 4.38%, 04/30/29 (Call 04/30/24)^(a)		260		226,398


Biotechnology — 0.2%
Emergent BioSolutions Inc., 3.88%, 08/15/28 (Call 08/15/23)^(a)(b)		175		148,509
Grifols Escrow Issuer SA, 4.75%, 10/15/28 (Call 10/15/24)^(a)		240		219,554


				368,063

Building Materials — 1.4%
Boise Cascade Co., 4.88%, 07/01/30 (Call 07/01/25)^(a)		160		151,200
Builders FirstSource Inc.
4.25%, 02/01/32 (Call 08/01/26)^(a)(b)		480		409,910
5.00%, 03/01/30 (Call 03/01/25)^(a)		170		157,228
6.75%, 06/01/27 (Call 06/01/22)^(a)		157		161,865
Cornerstone Building Brands Inc., 6.13%, 01/15/29 (Call 09/15/23)^(a)		155		129,095
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)		360		321,404
James Hardie International Finance DAC, 5.00%, 01/15/28 (Call 01/15/23)^(a)		150		144,582
Jeld-Wen Inc.
4.63%, 12/15/25 (Call 05/31/22)^(a)		125		118,223
4.88%, 12/15/27 (Call 12/15/22)^(a)(b)		165		149,797
Masonite International Corp., 5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		180		172,660
PGT Innovations Inc., 4.38%, 10/01/29 (Call 10/01/24)^(a)(b)		190		166,915


Security	Par (000)		Value

Building Materials (continued)
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (Call 07/15/23)^(a)	$	235	$	220,987


				2,303,866

Chemicals — 1.1%
Axalta Coating Systems LLC, 3.38%, 02/15/29 (Call 02/15/24)^(a)(b)		250		216,853
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)^(a)		150		142,571
Element Solutions Inc., 3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		275		245,965
Ingevity Corp., 3.88%, 11/01/28 (Call 11/01/23)^(a)(b)		175		157,964
Methanex Corp.
5.13%, 10/15/27 (Call 04/15/27)		215		206,907
5.25%, 12/15/29 (Call 09/15/29)		250		238,998
Rayonier AM Products Inc., 7.63%, 01/15/26 (Call 01/15/24)^(a)(b)		154		146,163
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
5.13%, 04/01/29 (Call 04/01/24)^(a)		175		154,259
5.38%, 09/01/25 (Call 05/30/22)^(a)		125		121,246
Tronox Inc., 4.63%, 03/15/29 (Call 03/15/24)^(a)		355		316,837


				1,947,763

Commercial Services — 8.2%
ADT Security Corp. (The)
4.13%, 06/15/23		145		144,060
4.13%, 08/01/29 (Call 08/01/28)^(a)		360		306,216
4.88%, 07/15/32^(a)		225		190,906
AMN Healthcare Inc., 4.63%, 10/01/27 (Call 10/01/22)^(a)		175		168,131
APX Group Inc.
5.75%, 07/15/29 (Call 07/15/24)^(a)(b)		265		217,385
6.75%, 02/15/27 (Call 02/15/23)^(a)(b)		225		222,964
ASGN Inc., 4.63%, 05/15/28 (Call 05/15/23)^(a)		210		195,105
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
4.75%, 04/01/28 (Call 04/01/24)^(a)		220		205,231
5.38%, 03/01/29 (Call 03/01/24)^(a)(b)		180		171,103
5.75%, 07/15/27 (Call 07/15/22)^(a)		160		158,000
Block Inc.
2.75%, 06/01/26 (Call 05/01/26)^(a)		335		305,939
3.50%, 06/01/31 (Call 03/01/31)^(a)		335		280,459
Brink’s Co. (The)
4.63%, 10/15/27 (Call 10/15/22)^(a)		168		159,207
5.50%, 07/15/25 (Call 07/15/22)^(a)		145		145,545
Carriage Services Inc., 4.25%, 05/15/29 (Call 05/15/24)^(a)		140		122,856
Cimpress PLC, 7.00%, 06/15/26 (Call 05/30/22)^(a)		200		187,840
Deluxe Corp., 8.00%, 06/01/29 (Call 06/01/24)^(a)(b)		180		172,433
Gartner Inc.
3.63%, 06/15/29 (Call 06/15/24)^(a)		196		176,963
3.75%, 10/01/30 (Call 10/01/25)^(a)		285		254,958
4.50%, 07/01/28 (Call 07/01/23)^(a)(b)		250		239,845
Graham Holdings Co., 5.75%, 06/01/26 (Call 05/10/22)^(a)		170		171,635
Grand Canyon University
4.13%, 10/01/24		167		162,883
5.13%, 10/01/28 (Call 08/01/28)		130		125,666
HealthEquity Inc., 4.50%, 10/01/29 (Call 10/01/24)^(a)		208		190,045
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)		385		377,184
Hertz Corp. (The)
4.63%, 12/01/26 (Call 12/01/23)^(a)		150		137,001
5.00%, 12/01/29 (Call 12/01/24)^(a)		335		293,252
Korn Ferry, 4.63%, 12/15/27 (Call 12/15/22)^(a)(b)		150		143,188


Security	Par (000)		Value

Commercial Services (continued)
MoneyGram International Inc., 5.38%, 08/01/26 (Call 08/01/23)^(a)	$	125	$	127,468
MPH Acquisition Holdings LLC
5.50%, 09/01/28 (Call 09/01/24)^(a)		370		342,383
5.75%, 11/01/28 (Call 11/01/23)^(a)(b)		435		378,580
Nielsen Co Luxembourg SARL (The), 5.00%, 02/01/25 (Call 05/30/22)^(a)(b)		155		155,341
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 07/15/29 (Call 07/15/24)^(a)		250		236,115
4.75%, 07/15/31 (Call 07/15/26)^(a)		190		179,499
5.63%, 10/01/28 (Call 10/01/23)^(a)		310		300,266
5.88%, 10/01/30 (Call 10/01/25)^(a)		255		244,994
Prime Security Services Borrower LLC/Prime Finance Inc.
3.38%, 08/31/27 (Call 08/31/26)^(a)		350		299,866
5.25%, 04/15/24^(a)		255		254,577
5.75%, 04/15/26^(a)		475		456,565
6.25%, 01/15/28 (Call 01/15/23)^(a)(b)		445		399,392
PROG Holdings Inc., 6.00%, 11/15/29 (Call 11/15/24)^(a)(b)		200		177,058
Rent-A-Center Inc./TX, 6.38%, 02/15/29 (Call 02/15/24)^(a)		150		130,634
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 05/31/22)^(a)		150		150,492
RR Donnelley & Sons Co., 6.13%, 11/01/26 (Call 11/01/23)^(a)		140		137,403
Sabre GLBL Inc.
7.38%, 09/01/25 (Call 09/01/22)^(a)		295		298,620
9.25%, 04/15/25 (Call 03/16/25)^(a)(b)		270		288,449
Service Corp. International/U.S.
3.38%, 08/15/30 (Call 08/15/25)		335		289,597
4.00%, 05/15/31 (Call 05/15/26)		270		243,899
4.63%, 12/15/27 (Call 12/15/22)		145		141,276
5.13%, 06/01/29 (Call 06/01/24)^(b)		260		256,446
Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., 4.63%, 11/01/26 (Call 11/01/22)^(a)		150		143,671
Sotheby’s, 7.38%, 10/15/27 (Call 10/15/22)^(a)		275		271,026
TriNet Group Inc., 3.50%, 03/01/29 (Call 03/01/24)^(a)(b)		140		127,378
United Rentals North America Inc.
3.75%, 01/15/32 (Call 07/15/26)		260		226,450
3.88%, 02/15/31 (Call 08/15/25)		365		323,076
4.00%, 07/15/30 (Call 07/15/25)^(b)		250		223,752
4.88%, 01/15/28 (Call 01/15/23)		565		549,909
5.25%, 01/15/30 (Call 01/15/25)		265		260,132
5.50%, 05/15/27 (Call 05/31/22)		270		276,043
WW International Inc., 4.50%, 04/15/29 (Call 04/15/24)^(a)(b)		160		126,842
ZipRecruiter Inc., 5.00%, 01/15/30 (Call 01/15/25)^(a)		200		187,084


				13,830,283

Computers — 2.1%
Booz Allen Hamilton Inc.
3.88%, 09/01/28 (Call 09/01/23)^(a)		175		161,618
4.00%, 07/01/29 (Call 07/01/24)^(a)		205		189,387
Crowdstrike Holdings Inc., 3.00%, 02/15/29 (Call 02/15/24)		235		208,769
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 05/31/22)^(b)		150		98,778
9.38%, 07/15/25 (Call 07/15/22)^(a)(b)		235		208,036
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)^(a)		372		137,417
NCR Corp.
5.00%, 10/01/28 (Call 10/01/23)^(a)		210		200,279
5.13%, 04/15/29 (Call 04/15/24)^(a)		430		406,857
5.25%, 10/01/30 (Call 10/01/25)^(a)		160		150,298
5.75%, 09/01/27 (Call 09/01/22)^(a)		130		125,581
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		170		162,821


Security	Par (000)		Value

Computers (continued)
Seagate HDD Cayman
3.13%, 07/15/29 (Call 01/15/24)	$	180	$	152,248
3.38%, 07/15/31 (Call 01/15/26)		195		158,358
4.09%, 06/01/29 (Call 03/01/29)		165		147,061
4.13%, 01/15/31 (Call 10/15/30)		185		161,006
4.75%, 06/01/23		120		120,698
4.75%, 01/01/25		145		144,535
4.88%, 03/01/24 (Call 01/01/24)		225		226,093
4.88%, 06/01/27 (Call 03/01/27)		175		170,012
5.75%, 12/01/34 (Call 06/01/34)		150		142,149
Unisys Corp., 6.88%, 11/01/27 (Call 11/01/23)^(a)		155		155,442


				3,627,443

Cosmetics & Personal Care — 0.2%
Edgewell Personal Care Co.
4.13%, 04/01/29 (Call 04/01/24)^(a)(b)		170		151,421
5.50%, 06/01/28 (Call 06/01/23)^(a)(b)		260		251,589


				403,010

Distribution & Wholesale — 0.7%
Avient Corp.
5.25%, 03/15/23		150		151,050
5.75%, 05/15/25 (Call 05/31/22)^(a)		215		217,062
IAA Inc., 5.50%, 06/15/27 (Call 06/15/22)^(a)		150		146,753
KAR Auction Services Inc., 5.13%, 06/01/25 (Call 05/31/22)^(a)		300		304,083
Ritchie Bros Holdings Inc., 4.75%, 12/15/31 (Call 12/15/26)^(a)		225		224,923
Univar Solutions USA Inc., 5.13%, 12/01/27 (Call 12/01/22)^(a)		190		183,160


				1,227,031

Diversified Financial Services — 4.2%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(b)(c)		50		47,392
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)		375		385,376
Burford Capital Global Finance LLC, 6.25%, 04/15/28 (Call 04/15/24)^(a)(b)		140		137,946
Coinbase Global Inc.
3.38%, 10/01/28 (Call 10/01/24)^(a)		350		279,282
3.63%, 10/01/31 (Call 10/01/26)^(a)		350		258,846
Global Aircraft Leasing Co. Ltd., 6.50%, 09/15/24 (Call 05/30/22), (7.25% PIK)^(a)(d)		634		550,160
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)^(a)		350		318,930
LPL Holdings Inc.
4.00%, 03/15/29 (Call 03/15/24)^(a)		280		255,055
4.38%, 05/15/31 (Call 05/15/26)^(a)		170		155,569
4.63%, 11/15/27 (Call 11/15/22)^(a)		135		128,345
Nationstar Mortgage Holdings Inc.
5.13%, 12/15/30 (Call 12/15/25)^(a)(b)		240		208,891
5.50%, 08/15/28 (Call 08/15/23)^(a)		288		263,056
5.75%, 11/15/31 (Call 11/15/26)^(a)		220		195,281
6.00%, 01/15/27 (Call 01/15/23)^(a)		180		174,769
OneMain Finance Corp.
3.50%, 01/15/27 (Call 01/15/24)^(b)		240		211,229
3.88%, 09/15/28 (Call 09/15/24)		210		178,427
4.00%, 09/15/30 (Call 09/15/25)^(b)		295		241,425
5.38%, 11/15/29 (Call 05/15/29)		250		224,567
5.63%, 03/15/23		160		161,560
6.13%, 03/15/24 (Call 09/15/23)^(b)		455		456,706
6.63%, 01/15/28 (Call 07/15/27)^(b)		275		271,868
6.88%, 03/15/25		435		439,233
7.13%, 03/15/26		525		534,376
8.88%, 06/01/25 (Call 06/01/22)		140		146,908


Security	Par (000)		Value

Diversified Financial Services (continued)
PennyMac Financial Services Inc.
4.25%, 02/15/29 (Call 02/15/24)^(a)	$	230	$	185,320
5.38%, 10/15/25 (Call 10/15/22)^(a)		240		228,096
5.75%, 09/15/31 (Call 09/15/26)^(a)		160		132,739
SLM Corp.
3.13%, 11/02/26 (Call 10/02/26)^(b)		175		160,057
4.20%, 10/29/25 (Call 09/29/25)		180		175,914


				7,107,323

Electric — 0.4%
FirstEnergy Transmission LLC
2.87%, 09/15/28 (Call 07/15/28)^(a)		195		173,835
4.35%, 01/15/25 (Call 10/15/24)^(a)		215		214,443
4.55%, 04/01/49 (Call 10/01/48)^(a)		170		146,428
5.45%, 07/15/44 (Call 01/15/44)^(a)		140		137,544


				672,250

Electrical Components & Equipment — 0.8%
Energizer Holdings Inc.
4.38%, 03/31/29 (Call 09/30/23)^(a)		275		228,891
4.75%, 06/15/28 (Call 06/15/23)^(a)		185		162,302
WESCO Distribution Inc.
7.13%, 06/15/25 (Call 06/15/22)^(a)		460		477,590
7.25%, 06/15/28 (Call 06/15/23)^(a)		445		462,453


				1,331,236

Electronics — 1.1%
Atkore Inc., 4.25%, 06/01/31 (Call 06/01/26)^(a)		135		119,587
II-VI Inc., 5.00%, 12/15/29 (Call 12/14/24)^(a)		315		295,451
Sensata Technologies BV
4.00%, 04/15/29 (Call 04/15/24)^(a)		350		312,050
4.88%, 10/15/23^(a)(b)		165		165,521
5.00%, 10/01/25^(a)		235		233,172
5.63%, 11/01/24^(a)(b)		150		151,980
Sensata Technologies Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)		275		232,757
4.38%, 02/15/30 (Call 11/15/29)^(a)		145		131,888
TTM Technologies Inc., 4.00%, 03/01/29 (Call 03/01/24)^(a)		190		166,434


				1,808,840

Energy - Alternate Sources — 0.1%
Enviva Partners LP/Enviva Partners Finance Corp., 6.50%, 01/15/26 (Call 05/31/22)^(a)		125		127,372
Sunnova Energy Corp., 5.88%, 09/01/26 (Call 09/01/23)^(a)(b)		125		114,919


				242,291

Engineering & Construction — 0.6%
AECOM, 5.13%, 03/15/27 (Call 12/15/26)		330		326,350
Arcosa Inc., 4.38%, 04/15/29 (Call 04/15/24)^(a)		170		155,346
Cellnex Finance Co SA, 3.88%, 07/07/41 (Call 04/07/41)^(a)(b)		200		149,948
Dycom Industries Inc., 4.50%, 04/15/29 (Call 04/15/24)^(a)		170		154,992
TopBuild Corp.
3.63%, 03/15/29 (Call 03/15/24)^(a)(b)		140		121,995
4.13%, 02/15/32 (Call 10/15/26)^(a)		185		159,984


				1,068,615

Entertainment — 2.3%
AMC Entertainment Holdings Inc.
7.50%, 02/15/29 (Call 02/15/25)^(a)		320		295,488
10.00%, 06/15/26 (Call 06/15/23), (12.00% PIK)^(a)(b)		525		439,430
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)		164		155,278


Security	Par (000)		Value

Entertainment (continued)
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 05/31/22)	$	220	$	213,976
5.50%, 05/01/25 (Call 05/31/22)^(a)		265		266,389
Cinemark USA Inc.
5.25%, 07/15/28 (Call 07/15/24)^(a)(b)		250		221,230
5.88%, 03/15/26 (Call 03/15/23)^(a)(b)		140		131,582
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 (Call 04/15/24)^(a)(b)		345		305,560
Merlin Entertainments Ltd., 5.75%, 06/15/26 (Call 03/17/26)^(a)		50		49,065
Motion Bondco DAC, 6.63%, 11/15/27 (Call 11/15/22)^(a)(b)		200		184,134
SeaWorld Parks & Entertainment Inc., 5.25%, 08/15/29 (Call 08/15/24)^(a)(b)		270		245,819
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 05/31/22)^(a)		245		244,101
5.50%, 04/15/27 (Call 05/31/22)^(a)		185		181,524
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)^(a)(b)		265		275,195
Vail Resorts Inc., 6.25%, 05/15/25 (Call 05/31/22)^(a)(b)		170		174,796
WMG Acquisition Corp.
3.00%, 02/15/31 (Call 02/15/26)^(a)		275		230,136
3.75%, 12/01/29 (Call 12/01/24)^(a)(b)		175		156,900
3.88%, 07/15/30 (Call 07/15/25)^(a)		185		166,605


				3,937,208

Environmental Control — 0.3%
Clean Harbors Inc., 4.88%, 07/15/27 (Call 07/15/22)^(a)		184		181,648
Covanta Holding Corp, 4.88%, 12/01/29 (Call 12/01/24)^(a)		225		204,383
Covanta Holding Corp., 5.00%, 09/01/30 (Call 09/01/25)		150		135,782


				521,813

Food — 2.4%
B&G Foods Inc.
5.25%, 04/01/25 (Call 05/31/22)		310		295,135
5.25%, 09/15/27 (Call 05/31/22)		209		191,400
Lamb Weston Holdings Inc.
4.13%, 01/31/30 (Call 01/31/25)^(a)		325		289,877
4.38%, 01/31/32 (Call 01/31/27)^(a)		235		210,983
4.88%, 05/15/28 (Call 11/15/27)^(a)(b)		180		175,378
Post Holdings Inc.
4.50%, 09/15/31 (Call 09/15/26)^(a)		610		508,740
4.63%, 04/15/30 (Call 04/15/25)^(a)		555		474,653
5.50%, 12/15/29 (Call 12/15/24)^(a)		425		386,287
5.63%, 01/15/28 (Call 12/01/22)^(a)		307		290,545
5.75%, 03/01/27 (Call 05/16/22)^(a)		193		190,916
TreeHouse Foods Inc., 4.00%, 09/01/28 (Call 09/01/23)		175		143,468
U.S. Foods Inc.
4.63%, 06/01/30 (Call 06/01/25)^(a)		165		148,214
4.75%, 02/15/29 (Call 02/15/24)^(a)(b)		300		276,951
6.25%, 04/15/25 (Call 05/31/22)^(a)		335		344,444
United Natural Foods Inc., 6.75%, 10/15/28 (Call 10/15/23)^(a)		188		188,641


				4,115,632

Food Service — 0.6%
Aramark Services Inc.
5.00%, 04/01/25 (Call 05/31/22)^(a)(b)		175		174,050
5.00%, 02/01/28 (Call 02/01/23)^(a)		400		373,184
6.38%, 05/01/25 (Call 05/31/22)^(a)		500		508,940


				1,056,174

Forest Products & Paper — 0.2%
Glatfelter Corp., 4.75%, 11/15/29 (Call 11/01/24)^(a)(b)		180		144,326


Security	Par (000)		Value

Forest Products & Paper (continued)
Mercer International Inc., 5.13%, 02/01/29 (Call 02/01/24)	$	285	$	265,144


				409,470

Health Care - Products — 1.0%
Avantor Funding Inc.
3.88%, 11/01/29 (Call 11/01/24)^(a)		270		242,671
4.63%, 07/15/28 (Call 07/15/23)^(a)		530		505,943
Hologic Inc.
3.25%, 02/15/29 (Call 09/28/23)^(a)(b)		285		254,140
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		150		147,072
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 7.25%, 02/01/28 (Call 02/01/23)^(a)		140		142,258
Teleflex Inc.
4.25%, 06/01/28 (Call 06/01/23)^(a)		165		155,460
4.63%, 11/15/27 (Call 11/15/22)^(b)		200		195,594


				1,643,138

Health Care - Services — 7.3%
Acadia Healthcare Co. Inc.
5.00%, 04/15/29 (Call 10/15/23)^(a)		145		137,482
5.50%, 07/01/28 (Call 07/01/23)^(a)		190		185,003
Catalent Pharma Solutions Inc.
3.13%, 02/15/29 (Call 02/15/24)^(a)		205		177,747
3.50%, 04/01/30 (Call 04/01/25)^(a)		230		200,509
5.00%, 07/15/27 (Call 07/15/22)^(a)		150		145,983
Centene Corp.
2.45%, 07/15/28 (Call 05/15/28)^(b)		540		471,344
2.50%, 03/01/31 (Call 12/01/30)		495		411,350
2.63%, 08/01/31 (Call 05/01/31)		315		262,732
3.00%, 10/15/30 (Call 07/15/30)		515		446,762
3.38%, 02/15/30 (Call 02/15/25)		485		433,338
4.25%, 12/15/27 (Call 12/15/22)		560		543,178
4.63%, 12/15/29 (Call 12/15/24)		805		780,069
Charles River Laboratories International Inc.
3.75%, 03/15/29 (Call 03/15/24)^(a)(b)		175		158,888
4.00%, 03/15/31 (Call 03/15/26)^(a)(b)		200		178,736
4.25%, 05/01/28 (Call 05/01/23)^(a)(b)		189		180,387
DaVita Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)		510		415,528
4.63%, 06/01/30 (Call 06/01/25)^(a)		930		810,765
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)		290		267,009
4.63%, 04/01/31 (Call 04/01/26)		135		119,289
4.75%, 02/01/30 (Call 02/01/25)^(b)		260		235,225
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)		695		623,033
5.38%, 02/01/25		735		756,080
5.38%, 09/01/26 (Call 03/01/26)		317		324,659
5.63%, 09/01/28 (Call 03/01/28)		460		475,433
5.88%, 05/01/23		300		309,657
5.88%, 02/15/26 (Call 08/15/25)^(b)		430		445,471
5.88%, 02/01/29 (Call 08/01/28)		375		390,709
IQVIA Inc.
5.00%, 10/15/26 (Call 05/31/22)^(a)		350		348,589
5.00%, 05/15/27 (Call 05/31/22)^(a)		375		372,060
MEDNAX Inc., 5.38%, 02/15/30 (Call 02/15/25)^(a)		135		126,540
ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/22)^(a)		190		186,325
Molina Healthcare Inc.
3.88%, 11/15/30 (Call 08/17/30)^(a)		225		203,618
3.88%, 05/15/32 (Call 02/15/32)^(a)		240		211,490
4.38%, 06/15/28 (Call 06/15/23)^(a)(b)		275		256,894


Security	Par (000)		Value

Health Care - Services (continued)
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)	$	400	$	397,000
Surgery Center Holdings Inc., 10.00%, 04/15/27 (Call 05/31/22)^(a)		185		193,456
Syneos Health Inc., 3.63%, 01/15/29 (Call 01/15/24)^(a)(b)		175		154,880


				12,337,218

Holding Companies - Diversified — 0.2%
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)^(a)		350		313,085


Home Builders — 1.1%
Ashton Woods USA LLC/Ashton Woods Finance Co., 4.63%, 04/01/30 (Call 04/01/25)^(a)		150		122,657
Century Communities Inc.
3.88%, 08/15/29 (Call 02/15/29)^(a)		165		139,148
6.75%, 06/01/27 (Call 06/01/22)^(b)		160		161,702
Meritage Homes Corp.
3.88%, 04/15/29 (Call 10/15/28)^(a)		155		139,033
6.00%, 06/01/25 (Call 03/01/25)		136		138,594
Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/22)^(a)(b)		179		182,412
Taylor Morrison Communities Inc.
5.13%, 08/01/30 (Call 02/01/30)^(a)		160		146,400
5.75%, 01/15/28 (Call 10/15/27)^(a)		131		128,600
5.88%, 06/15/27 (Call 03/15/27)^(a)		190		188,634
Thor Industries Inc., 4.00%, 10/15/29 (Call 10/15/24)^(a)		175		147,824
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24		130		131,808
Williams Scotsman International Inc., 4.63%, 08/15/28 (Call 08/15/23)^(a)		181		171,581


				1,798,393

Home Furnishings — 0.3%
Tempur Sealy International Inc.
3.88%, 10/15/31 (Call 10/15/26)^(a)(b)		275		228,308
4.00%, 04/15/29 (Call 04/15/24)^(a)		280		242,889


				471,197

Household Products & Wares — 0.4%
ACCO Brands Corp., 4.25%, 03/15/29 (Call 03/15/24)^(a)		185		161,735
Central Garden & Pet Co.
4.13%, 10/15/30 (Call 10/15/25)		200		173,328
4.13%, 04/30/31 (Call 04/30/26)^(a)		115		98,665
Spectrum Brands Inc.
3.88%, 03/15/31 (Call 03/15/26)^(a)(b)		175		147,264
5.75%, 07/15/25 (Call 05/31/22)		107		108,327


				689,319

Housewares — 0.8%
Newell Brands Inc.
4.10%, 04/01/23 (Call 02/01/23)		225		224,948
4.45%, 04/01/26 (Call 01/01/26)		675		667,541
4.88%, 06/01/25 (Call 05/01/25)^(b)		190		192,191
5.63%, 04/01/36 (Call 10/01/35)		153		146,297
5.75%, 04/01/46 (Call 10/01/45)		220		204,943


				1,435,920

Insurance — 0.9%
Assurant Inc., 7.00%, 03/27/48 (Call 03/27/28)^(c)		135		140,956
Liberty Mutual Group Inc.
4.13%, 12/15/51 (Call 09/15/26)^(a)(b)(c)		175		159,731
4.30%, 02/01/61 (Call 02/01/26)^(a)		480		361,579
MGIC Investment Corp., 5.25%, 08/15/28 (Call 08/15/23)		230		216,736
NMI Holdings Inc., 7.38%, 06/01/25 (Call 03/30/25)^(a)		145		151,640


Security	Par (000)		Value

Insurance (continued)
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)	$	105	$	102,552
4.88%, 03/15/27 (Call 09/15/26)		175		167,451
6.63%, 03/15/25 (Call 09/15/24)		190		193,443


				1,494,088

Internet — 3.3%
Cablevision Lightpath LLC
3.88%, 09/15/27 (Call 09/15/23)^(a)		200		176,158
5.63%, 09/15/28 (Call 09/15/23)^(a)		100		85,861
Cars.com Inc., 6.38%, 11/01/28 (Call 11/01/23)^(a)		150		140,781
Cogent Communications Group Inc., 3.50%, 05/01/26 (Call 02/01/26)^(a)		190		180,842
Go Daddy Operating Co. LLC/GD Finance Co. Inc.
3.50%, 03/01/29 (Call 03/01/24)^(a)		275		244,343
5.25%, 12/01/27 (Call 06/01/22)^(a)		210		207,677
GrubHub Holdings Inc., 5.50%, 07/01/27 (Call 07/01/22)^(a)		175		150,241
Netflix Inc.
3.63%, 06/15/25 (Call 03/15/25)^(a)(b)		225		220,118
4.38%, 11/15/26		225		223,241
4.88%, 04/15/28		460		451,600
4.88%, 06/15/30 (Call 03/15/30)^(a)(b)		260		254,306
5.38%, 11/15/29^(a)		280		280,330
5.75%, 03/01/24		125		129,768
5.88%, 02/15/25^(b)		250		259,567
5.88%, 11/15/28^(b)		545		561,056
6.38%, 05/15/29^(b)		210		223,045
NortonLifeLock Inc., 5.00%, 04/15/25 (Call 05/10/22)^(a)		400		399,796
Rakuten Group Inc.
5.13%, (Call 04/22/26)^(a)(b)(c)(e)		275		253,127
6.25%, (Call 04/22/31)^(a)(c)(e)		325		306,920
TripAdvisor Inc., 7.00%, 07/15/25 (Call 07/15/22)^(a)(b)		160		164,262
Twitter Inc.
3.88%, 12/15/27 (Call 09/15/27)^(a)		260		255,055
5.00%, 03/01/30 (Call 12/01/29)^(a)		340		347,602


				5,515,696

Iron & Steel — 0.7%
Cleveland-Cliffs Inc.
4.63%, 03/01/29 (Call 03/01/24)^(a)		195		182,890
4.88%, 03/01/31 (Call 03/01/26)^(a)(b)		165		153,488
5.88%, 06/01/27 (Call 06/01/22)^(b)		185		185,261
6.75%, 03/15/26 (Call 05/31/22)^(a)		265		277,776
Mineral Resources Ltd.
8.00%, 11/01/27^(a)		90		89,620
8.13%, 05/01/27 (Call 05/31/22)^(a)(b)		235		239,949
8.50%, 05/01/30^(a)		125		123,989


				1,252,973

Leisure Time — 1.6%
Royal Caribbean Cruises Ltd, 5.38%, 07/15/27 (Call 10/15/26)^(a)		337		309,676
Royal Caribbean Cruises Ltd.
3.70%, 03/15/28 (Call 12/15/27)^(b)		190		159,646
4.25%, 07/01/26 (Call 01/01/26)^(a)(b)		210		190,100
5.50%, 08/31/26 (Call 02/28/26)^(a)		340		316,880
5.50%, 04/01/28 (Call 10/01/27)^(a)		515		469,737
9.13%, 06/15/23 (Call 03/15/23)^(a)		330		340,923
10.88%, 06/01/23 (Call 03/01/23)^(a)		320		334,925
11.50%, 06/01/25 (Call 06/01/22)^(a)		470		511,087


				2,632,974


Security	Par (000)		Value

Lodging — 1.9%
Hilton Domestic Operating Co. Inc.
3.63%, 02/15/32 (Call 08/15/26)^(a)	$	500	$	424,020
3.75%, 05/01/29 (Call 05/01/24)^(a)(b)		270		245,411
4.00%, 05/01/31 (Call 05/01/26)^(a)		355		318,545
4.88%, 01/15/30 (Call 01/15/25)		367		354,797
5.38%, 05/01/25 (Call 05/10/22)^(a)(b)		205		208,159
5.75%, 05/01/28 (Call 05/01/23)^(a)(b)		180		182,351
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc
4.88%, 07/01/31 (Call 07/01/26)^(a)		145		126,887
5.00%, 06/01/29 (Call 06/01/24)^(a)		310		279,471
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 05/16/22)		190		189,265
Marriott Ownership Resorts Inc., 4.50%, 06/15/29 (Call 06/15/24)^(a)		170		151,518
Travel + Leisure Co.
3.90%, 03/01/23 (Call 12/01/22)		97		96,917
4.50%, 12/01/29 (Call 09/01/29)^(a)(b)		185		164,028
6.00%, 04/01/27 (Call 01/01/27)		220		219,963
6.63%, 07/31/26 (Call 04/30/26)^(a)		185		189,209


				3,150,541

Machinery — 0.6%
Mueller Water Products Inc., 4.00%, 06/15/29 (Call 06/15/24)^(a)(b)		161		146,286
Stevens Holding Co. Inc., 6.13%, 10/01/26 (Call 10/01/23)^(a)		125		126,766
Terex Corp., 5.00%, 05/15/29 (Call 05/15/24)^(a)		220		202,250
Vertiv Group Corp., 4.13%, 11/15/28 (Call 11/15/24)^(a)		305		265,817
Weir Group PLC (The), 2.20%, 05/13/26 (Call 04/13/26)^(a)(b)		250		226,725
Welbilt Inc., 9.50%, 02/15/24 (Call 05/31/22)^(b)		125		125,559


				1,093,403

Manufacturing — 0.3%
Gates Global LLC/Gates Corp., 6.25%, 01/15/26 (Call 05/31/22)^(a)(b)		200		196,140
Hillenbrand Inc., 5.75%, 06/15/25 (Call 06/15/22)		130		131,925
Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24)		132		132,192


				460,257

Media — 9.5%
Cable One Inc., 4.00%, 11/15/30 (Call 11/15/25)^(a)(b)		235		202,222
CSC Holdings LLC
3.38%, 02/15/31 (Call 02/15/26)^(a)(b)		275		214,651
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		200		165,442
4.50%, 11/15/31 (Call 11/15/26)^(a)		375		308,520
4.63%, 12/01/30 (Call 12/01/25)^(a)(b)		550		420,618
5.00%, 11/15/31 (Call 11/15/26)^(a)		200		154,528
5.25%, 06/01/24		185		180,521
5.38%, 02/01/28 (Call 02/01/23)^(a)		275		254,375
5.50%, 04/15/27 (Call 05/31/22)^(a)		325		313,953
5.75%, 01/15/30 (Call 01/15/25)^(a)		625		518,663
6.50%, 02/01/29 (Call 02/01/24)^(a)		450		429,890
7.50%, 04/01/28 (Call 04/01/23)^(a)		300		276,735
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(a)		800		292,072
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		120		25,111
Gannett Holdings LLC, 6.00%, 11/01/26 (Call 11/01/23)^(a)		135		122,931
GCI LLC, 4.75%, 10/15/28 (Call 10/15/23)^(a)		190		175,418
Gray Escrow II Inc., 5.38%, 11/15/31 (Call 11/15/26)^(a)		435		381,025
Gray Television Inc.
4.75%, 10/15/30 (Call 10/15/25)^(a)(b)		285		247,910
5.88%, 07/15/26 (Call 05/31/22)^(a)(b)		205		206,798


Security	Par (000)		Value

Media (continued)
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)	$	275	$	284,809
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)		180		163,469
5.25%, 08/15/27 (Call 08/15/22)^(a)		255		239,233
6.38%, 05/01/26 (Call 05/16/22)		230		230,513
8.38%, 05/01/27 (Call 05/16/22)		510		504,834
McGraw-Hill Education Inc.
5.75%, 08/01/28 (Call 08/01/24)^(a)		300		268,212
8.00%, 08/01/29 (Call 08/01/24)^(a)		250		223,825
Nexstar Media Inc.
4.75%, 11/01/28 (Call 11/01/23)^(a)(b)		365		332,325
5.63%, 07/15/27 (Call 07/15/22)^(a)		535		520,913
Scripps Escrow II Inc.
3.88%, 01/15/29 (Call 01/15/24)^(a)		210		186,593
5.38%, 01/15/31 (Call 01/15/26)^(a)(b)		165		147,234
Scripps Escrow Inc., 5.88%, 07/15/27 (Call 07/15/22)^(a)(b)		150		143,450
Sinclair Television Group Inc.
4.13%, 12/01/30 (Call 12/01/25)^(a)		240		199,354
5.13%, 02/15/27 (Call 05/16/22)^(a)		130		113,911
5.50%, 03/01/30 (Call 12/01/24)^(a)		165		136,041
Sirius XM Radio Inc.
3.13%, 09/01/26 (Call 09/01/23)^(a)(b)		345		317,831
3.88%, 09/01/31 (Call 09/01/26)^(a)		505		427,013
4.00%, 07/15/28 (Call 07/15/24)^(a)		680		614,876
4.13%, 07/01/30 (Call 07/01/25)^(a)		505		443,920
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		500		482,435
5.50%, 07/01/29 (Call 07/01/24)^(a)		435		419,266
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)		365		351,455
4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		175		173,794
5.00%, 09/15/29 (Call 09/15/24)		335		325,221
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(a)		400		382,232
Univision Communications Inc.
4.50%, 05/01/29 (Call 05/01/24)^(a)(b)		355		318,691
5.13%, 02/15/25 (Call 05/10/22)^(a)(b)		495		488,699
6.63%, 06/01/27 (Call 06/01/23)^(a)		535		538,242
UPC Broadband Finco BV, 4.88%, 07/15/31 (Call 07/15/26)^(a)		325		285,552
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(a)		200		189,396
Videotron Ltd.
3.63%, 06/15/29 (Call 06/15/24)^(a)		190		165,661
5.13%, 04/15/27 (Call 05/30/22)^(a)(b)		230		225,432
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		200		202,544
VZ Secured Financing BV, 5.00%, 01/15/32 (Call 01/15/27)^(a)		525		458,582
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)(b)		125		108,773
6.00%, 01/15/27 (Call 05/30/22)^(a)(b)		150		147,338
Ziggo BV, 4.88%, 01/15/30 (Call 10/15/24)^(a)		425		376,907


				16,029,959

Mining — 1.6%
Compass Minerals International Inc., 6.75%, 12/01/27 (Call 12/01/22)^(a)		190		192,261
Constellium SE, 3.75%, 04/15/29 (Call 04/15/24)^(a)(b)		250		215,747
FMG Resources August 2006 Pty Ltd.
4.38%, 04/01/31 (Call 01/01/31)^(a)(b)		495		438,169
4.50%, 09/15/27 (Call 06/15/27)^(a)		205		196,222
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		255		258,343
5.88%, 04/15/30 (Call 01/15/30)^(a)		245		243,104
6.13%, 04/15/32 (Call 01/15/32)^(a)		285		283,147
Hecla Mining Co., 7.25%, 02/15/28 (Call 02/15/23)		150		151,548


Security	Par (000)		Value

Mining (continued)
Kaiser Aluminum Corp.
4.50%, 06/01/31 (Call 06/01/26)^(a)(b)	$	185	$	159,211
4.63%, 03/01/28 (Call 03/01/23)^(a)(b)		150		136,609
New Gold Inc., 7.50%, 07/15/27 (Call 07/15/23)^(a)		140		139,978
Perenti Finance Pty Ltd., 6.50%, 10/07/25 (Call 10/07/22)^(a)(b)		150		149,661
Taseko Mines Ltd., 7.00%, 02/15/26 (Call 02/15/23)^(a)		120		119,026


				2,683,026

Office & Business Equipment — 0.5%
Pitney Bowes Inc., 6.88%, 03/15/27 (Call 03/15/24)^(a)		130		120,133
Xerox Corp., 4.63%, 03/15/23 (Call 02/15/23)		310		310,000
Xerox Holdings Corp.
5.00%, 08/15/25 (Call 07/15/25)^(a)(b)		295		283,203
5.50%, 08/15/28 (Call 07/15/28)^(a)		225		202,642


				915,978

Office Furnishings — 0.1%
Steelcase Inc., 5.13%, 01/18/29 (Call 10/18/28)		162		157,956


Packaging & Containers — 2.6%
Ball Corp.
2.88%, 08/15/30 (Call 05/15/30)^(b)		460		387,118
3.13%, 09/15/31 (Call 06/15/31)		280		234,758
4.00%, 11/15/23		295		295,525
4.88%, 03/15/26 (Call 12/15/25)		260		261,895
5.25%, 07/01/25		335		343,626
Berry Global Inc., 5.63%, 07/15/27 (Call 07/15/22)^(a)		150		149,479
Cascades Inc./Cascades USA Inc., 5.38%, 01/15/28 (Call 01/15/23)^(a)(b)		150		145,701
Graphic Packaging International LLC
3.50%, 03/15/28^(a)		180		162,902
3.75%, 02/01/30 (Call 08/01/29)^(a)		105		92,227
Intertape Polymer Group Inc., 4.38%, 06/15/29 (Call 06/15/24)^(a)		115		118,273
OI European Group BV, 4.75%, 02/15/30 (Call 11/15/24)^(a)		155		137,586
Owens-Brockway Glass Container Inc.
5.88%, 08/15/23^(a)		185		187,679
6.63%, 05/13/27 (Call 05/15/23)^(a)		210		208,641
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)		155		145,898
5.00%, 04/15/29^(a)		86		85,335
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		160		162,981
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		130		133,669
6.88%, 07/15/33^(a)		160		175,440
Silgan Holdings Inc., 4.13%, 02/01/28 (Call 10/01/22)		225		210,537
TriMas Corp., 4.13%, 04/15/29 (Call 04/15/24)^(a)		150		134,571
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)		350		338,278
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		250		246,795


				4,358,914

Pharmaceuticals — 2.8%
180 Medical Inc., 3.88%, 10/15/29 (Call 10/07/24)^(a)(b)		160		143,429
AdaptHealth LLC
4.63%, 08/01/29 (Call 02/01/24)^(a)		175		149,095
5.13%, 03/01/30 (Call 03/01/25)^(a)		220		189,297
Elanco Animal Health Inc., 6.40%, 08/28/28 (Call 05/28/28)		245		253,739
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)^(a)		220		216,407
HLF Financing Sarl LLC/Herbalife International Inc., 4.88%, 06/01/29 (Call 06/01/24)^(a)		210		169,462


Security	Par (000)		Value

Pharmaceuticals (continued)
Horizon Therapeutics USA Inc., 5.50%, 08/01/27 (Call 08/01/22)^(a)	$	200	$	199,898
Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)^(a)		485		448,470
Option Care Health Inc., 4.38%, 10/31/29 (Call 10/31/24)^(a)		185		166,124
Organon & Co./Organon Foreign Debt Co-Issuer BV
4.13%, 04/30/28 (Call 04/30/24)^(a)		700		650,237
5.13%, 04/30/31 (Call 04/30/26)^(a)(b)		675		610,490
Owens & Minor Inc.
4.50%, 03/31/29 (Call 03/31/24)^(a)(b)		190		171,048
6.63%, 04/01/30 (Call 04/01/25)^(a)		215		210,446
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)^(b)		200		196,160
3.90%, 06/15/30 (Call 03/15/30)		275		246,848
4.38%, 03/15/26 (Call 12/15/25)^(b)		250		241,977
PRA Health Sciences Inc., 2.88%, 07/15/26 (Call 07/15/23)^(a)(b)		150		138,897
Prestige Brands Inc.
3.75%, 04/01/31 (Call 04/01/26)^(a)		215		182,475
5.13%, 01/15/28 (Call 01/15/23)^(a)		175		167,643


				4,752,142

Real Estate — 1.4%
Cushman & Wakefield US Borrower LLC, 6.75%, 05/15/28 (Call 05/15/23)^(a)		225		229,502
Howard Hughes Corp. (The)
4.13%, 02/01/29 (Call 02/01/24)^(a)(b)		230		208,337
4.38%, 02/01/31 (Call 02/01/26)^(a)		200		177,784
5.38%, 08/01/28 (Call 08/01/23)^(a)		275		266,791
Kennedy-Wilson Inc.
4.75%, 03/01/29 (Call 03/01/24)		205		189,016
4.75%, 02/01/30 (Call 09/01/24)		225		202,959
5.00%, 03/01/31 (Call 03/01/26)		180		162,691
Newmark Group Inc., 6.13%, 11/15/23 (Call 10/15/23)^(b)		205		209,416
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)		120		119,611
5.25%, 04/15/30 (Call 04/15/25)^(a)		355		287,660
5.75%, 01/15/29 (Call 01/15/24)^(a)		290		244,035


				2,297,802

Real Estate Investment Trusts — 6.1%
Apollo Commercial Real Estate Finance Inc., 4.63%, 06/15/29 (Call 06/15/24)^(a)		164		142,542
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL
4.50%, 04/01/27 (Call 10/01/23)^(a)		265		240,185
5.75%, 05/15/26 (Call 05/15/22)^(a)		290		281,471
HAT Holdings I LLC/HAT Holdings II LLC
3.38%, 06/15/26 (Call 03/15/26)^(a)		325		299,790
6.00%, 04/15/25 (Call 05/31/22)^(a)(b)		130		132,129
Iron Mountain Inc.
4.50%, 02/15/31 (Call 02/15/26)^(a)		379		326,395
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		340		323,772
4.88%, 09/15/29 (Call 09/15/24)^(a)		360		330,145
5.00%, 07/15/28 (Call 07/15/23)^(a)(b)		170		160,953
5.25%, 03/15/28 (Call 12/27/22)^(a)		280		267,562
5.25%, 07/15/30 (Call 07/15/25)^(a)		420		385,505
5.63%, 07/15/32 (Call 07/15/26)^(a)		220		201,060
Iron Mountain Information Management Services Inc., 5.00%, 07/15/32 (Call 07/15/27)^(a)(b)		250		220,760
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)^(b)		215		205,108


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
4.75%, 10/01/24 (Call 07/01/24)	$	255	$	247,916
5.50%, 02/15/26 (Call 08/15/22)^(b)		110		107,027
MPT Operating Partnership LP/MPT Finance Corp.
3.50%, 03/15/31 (Call 03/15/26)		400		340,396
4.63%, 08/01/29 (Call 08/01/24)		350		321,552
5.00%, 10/15/27 (Call 10/15/22)		475		455,743
5.25%, 08/01/26 (Call 05/31/22)		160		160,205
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.88%, 05/15/29 (Call 05/15/24)^(a)		245		224,616
5.88%, 10/01/28 (Call 10/01/23)^(a)		265		257,069
7.50%, 06/01/25 (Call 06/01/22)^(a)		100		103,716
RHP Hotel Properties LP/RHP Finance Corp.
4.50%, 02/15/29 (Call 02/15/24)^(a)		205		185,673
4.75%, 10/15/27 (Call 10/15/22)		256		238,769
SBA Communications Corp.
3.13%, 02/01/29 (Call 02/01/24)		515		441,545
3.88%, 02/15/27 (Call 02/15/23)		475		450,666
Starwood Property Trust Inc.
3.63%, 07/15/26 (Call 01/15/26)^(a)		135		124,208
3.75%, 12/31/24 (Call 09/30/24)^(a)		120		115,517
4.38%, 01/15/27 (Call 07/15/26)^(a)		180		167,967
4.75%, 03/15/25 (Call 09/15/24)		170		167,860
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
6.00%, 01/15/30 (Call 01/15/25)^(a)		245		204,423
7.88%, 02/15/25 (Call 05/31/22)^(a)		775		791,453
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
4.75%, 04/15/28 (Call 04/15/24)^(a)		180		160,861
6.50%, 02/15/29 (Call 02/15/24)^(a)		380		327,621
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 05/31/22)^(a)		175		168,268
3.88%, 02/15/29^(a)		160		145,475
4.50%, 09/01/26^(a)		110		105,679
4.63%, 06/15/25^(a)		160		157,099
5.63%, 05/01/24^(a)		245		246,931
5.75%, 02/01/27^(a)		145		145,004
XHR LP
4.88%, 06/01/29 (Call 06/01/24)^(a)(b)		225		207,621
6.38%, 08/15/25 (Call 08/15/22)^(a)		140		141,856


				10,430,113

Retail — 5.0%
1011778 BC ULC/New Red Finance Inc.
3.50%, 02/15/29 (Call 02/15/24)^(a)		280		247,372
3.88%, 01/15/28 (Call 09/15/22)^(a)		530		487,600
4.00%, 10/15/30 (Call 10/15/25)^(a)		965		825,451
4.38%, 01/15/28 (Call 11/15/22)^(a)		245		224,672
5.75%, 04/15/25 (Call 05/30/22)^(a)(b)		180		183,983
Asbury Automotive Group Inc.
4.50%, 03/01/28 (Call 03/01/23)		185		172,409
4.63%, 11/15/29 (Call 11/15/24)^(a)(b)		240		216,223
4.75%, 03/01/30 (Call 03/01/25)		145		129,991
5.00%, 02/15/32 (Call 11/15/26)^(a)(b)		195		173,856
Bed Bath & Beyond Inc., 5.17%, 08/01/44 (Call 02/01/44)		240		133,560
Dave & Buster’s Inc., 7.63%, 11/01/25 (Call 11/01/22)^(a)(b)		144		149,289
Foot Locker Inc., 4.00%, 10/01/29 (Call 10/01/24)^(a)(b)		150		124,917
Gap Inc. (The)
3.63%, 10/01/29 (Call 10/01/24)^(a)(b)		265		215,713
3.88%, 10/01/31 (Call 10/01/26)^(a)(b)		245		196,039
Group 1 Automotive Inc., 4.00%, 08/15/28 (Call 08/15/23)^(a)(b)		275		247,371


Security	Par (000)		Value

Retail (continued)
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 06/01/22)^(a)	$	255	$	254,398
Lithia Motors Inc.
3.88%, 06/01/29 (Call 06/01/24)^(a)		325		295,227
4.38%, 01/15/31 (Call 10/15/25)^(a)(b)		145		133,757
4.63%, 12/15/27 (Call 12/15/22)^(a)(b)		100		96,504
Macy’s Retail Holdings LLC
5.88%, 04/01/29 (Call 04/01/24)^(a)(b)		155		147,624
5.88%, 03/15/30 (Call 03/15/25)^(a)		145		136,191
6.13%, 03/15/32 (Call 03/15/27)^(a)		160		148,374
Michaels Companies Inc (The)
5.25%, 05/01/28 (Call 11/01/23)^(a)		290		249,354
7.88%, 05/01/29 (Call 05/01/24)^(a)(b)		435		345,316
Nordstrom Inc.
4.25%, 08/01/31 (Call 05/01/31)		135		115,426
4.38%, 04/01/30 (Call 01/01/30)		175		154,046
5.00%, 01/15/44 (Call 07/15/43)^(b)		325		266,500
Party City Holdings Inc., 8.75%, 02/15/26 (Call 08/15/23)^(a)		260		238,836
Rite Aid Corp.
7.50%, 07/01/25 (Call 07/01/22)^(a)		210		180,119
8.00%, 11/15/26 (Call 01/15/23)^(a)(b)		285		239,366
Sally Holdings LLC/Sally Capital Inc., 5.63%, 12/01/25 (Call 05/31/22)^(b)		230		230,609
Sonic Automotive Inc.
4.63%, 11/15/29 (Call 11/15/24)^(a)		200		170,810
4.88%, 11/15/31 (Call 11/15/26)^(a)		185		157,822
Yum! Brands Inc.
3.63%, 03/15/31 (Call 12/15/30)		365		313,849
4.63%, 01/31/32 (Call 10/01/26)^(b)		360		328,558
4.75%, 01/15/30 (Call 10/15/29)^(a)		280		266,168
5.38%, 04/01/32 (Call 04/01/27)		340		325,135


				8,522,435

Semiconductors — 0.6%
Amkor Technology Inc., 6.63%, 09/15/27 (Call 05/31/22)^(a)		175		178,672
ams-OSRAM AG, 7.00%, 07/31/25 (Call 07/31/22)^(a)(b)		150		151,731
Entegris Inc.
3.63%, 05/01/29 (Call 05/01/24)^(a)(b)		175		153,970
4.38%, 04/15/28 (Call 04/15/23)^(a)(b)		105		97,721
ON Semiconductor Corp., 3.88%, 09/01/28 (Call 09/01/23)^(a)(b)		235		218,315
Synaptics Inc., 4.00%, 06/15/29 (Call 06/15/24)^(a)		155		136,574


				936,983

Software — 3.2%
ACI Worldwide Inc., 5.75%, 08/15/26 (Call 05/31/22)^(a)		165		167,254
Black Knight InfoServ LLC, 3.63%, 09/01/28 (Call 09/01/23)^(a)		340		315,649
Camelot Finance SA, 4.50%, 11/01/26 (Call 11/01/22)^(a)		250		236,205
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)		220		221,650
5.00%, 10/15/24 (Call 07/15/24)		170		175,460
5.25%, 05/15/29 (Call 05/15/24)^(a)		120		120,906
Clarivate Science Holdings Corp.
3.88%, 07/01/28 (Call 06/30/24)^(a)		305		271,590
4.88%, 07/01/29 (Call 06/30/24)^(a)(b)		310		273,857
Consensus Cloud Solutions Inc., 6.50%, 10/15/28 (Call 10/15/26)^(a)		160		150,206
Elastic NV, 4.13%, 07/15/29 (Call 07/15/24)^(a)(b)		175		156,888
Fair Isaac Corp.
4.00%, 06/15/28 (Call 12/15/22)^(a)		285		260,527


Security	Par (000)		Value


Software (continued)
5.25%, 05/15/26 (Call 02/15/26)^(a)(b)	$	150	$	150,792
MicroStrategy Inc., 6.13%, 06/15/28 (Call 06/15/24)^(a)(b)		170		156,446
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(a)		305		278,035
3.88%, 12/01/29 (Call 12/01/24)^(a)		330		293,410
Open Text Holdings Inc.
4.13%, 02/15/30 (Call 02/15/25)^(a)		300		267,159
4.13%, 12/01/31 (Call 12/01/26)^(a)		202		175,395
PTC Inc.
3.63%, 02/15/25 (Call 05/31/22)^(a)		159		154,709
4.00%, 02/15/28 (Call 02/15/23)^(a)		205		190,757
Rackspace Technology Global Inc.
3.50%, 02/15/28 (Call 02/15/24)^(a)(b)		200		173,082
5.38%, 12/01/28 (Call 12/01/23)^(a)		185		150,954
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 05/31/22)^(a)		645		632,809
Twilio Inc.
3.63%, 03/15/29 (Call 03/15/24)		140		123,395
3.88%, 03/15/31 (Call 03/15/26)^(b)		190		162,402
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/29 (Call 02/01/24)^(a)		245		216,803


				5,476,340

Telecommunications — 7.9%
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)^(a)		355		328,162
Ciena Corp., 4.00%, 01/31/30 (Call 01/31/25)^(a)(b)		170		154,931
CommScope Inc.
4.75%, 09/01/29 (Call 09/01/24)^(a)		430		360,387
6.00%, 03/01/26 (Call 05/31/22)^(a)		510		482,236
7.13%, 07/01/28 (Call 07/01/23)^(a)(b)		275		219,563
8.25%, 03/01/27 (Call 05/31/22)^(a)		340		289,010
CommScope Technologies LLC
5.00%, 03/15/27 (Call 05/10/22)^(a)(b)		255		200,022
6.00%, 06/15/25 (Call 05/10/22)^(a)		401		351,882
Consolidated Communications Inc.
5.00%, 10/01/28 (Call 10/01/23)^(a)		145		118,607
6.50%, 10/01/28 (Call 10/01/23)^(a)(b)		255		221,536
DKT Finance ApS, 9.38%, 06/17/23 (Call 05/10/22)^(a)		100		99,662
Embarq Corp., 8.00%, 06/01/36		485		436,718
Hughes Satellite Systems Corp.
5.25%, 08/01/26		270		264,198
6.63%, 08/01/26^(b)		265		265,276
Level 3 Financing Inc.
3.63%, 01/15/29 (Call 01/15/24)^(a)		260		211,591
3.75%, 07/15/29 (Call 01/15/24)^(a)		245		198,991
4.25%, 07/01/28 (Call 07/01/23)^(a)		500		423,025
4.63%, 09/15/27 (Call 09/15/22)^(a)		550		495,517
5.25%, 03/15/26 (Call 05/31/22)		200		194,878
Lumen Technologies Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)(b)		500		444,710
4.50%, 01/15/29 (Call 01/15/24)^(a)		310		245,402
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		425		385,101
5.38%, 06/15/29 (Call 06/15/24)^(a)		500		408,110
5.63%, 04/01/25 (Call 01/01/25)		160		155,944
Series P, 7.60%, 09/15/39		160		139,832
Series U, 7.65%, 03/15/42^(b)		160		142,003
Series W, 6.75%, 12/01/23		200		203,372
Series Y, 7.50%, 04/01/24 (Call 01/01/24)		325		333,824
Nokia OYJ
4.38%, 06/12/27^(b)		197		191,685
6.63%, 05/15/39		155		178,921
Plantronics Inc., 4.75%, 03/01/29 (Call 03/01/24)^(a)(b)		165		167,638


Security	Par/ Shares (000)		Value


Telecommunications (continued)
Switch Ltd.
3.75%, 09/15/28 (Call 09/15/23)^(a)	$	210	$	196,946
4.13%, 06/15/29 (Call 06/15/24)^(a)		165		157,941
Telecom Italia Capital SA
6.00%, 09/30/34		385		329,583
6.38%, 11/15/33		335		296,311
7.20%, 07/18/36		345		311,707
7.72%, 06/04/38		315		295,678
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)		525		514,626
United States Cellular Corp., 6.70%, 12/15/33^(b)		175		179,435
Viavi Solutions Inc., 3.75%, 10/01/29 (Call 10/01/24)^(a)		135		121,395
Vodafone Group PLC
3.25%, 06/04/81 (Call 06/04/26)^(c)		190		172,471
4.13%, 06/04/81 (Call 03/04/31)^(c)		355		306,621
5.13%, 06/04/81 (Call 12/04/50)^(c)		315		262,282
7.00%, 04/04/79 (Call 01/04/29)^(c)		640		677,664
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)^(a)		470		450,321
Zayo Group Holdings Inc.
4.00%, 03/01/27 (Call 05/31/22)^(a)(b)		485		423,424
6.13%, 03/01/28 (Call 03/01/23)^(a)		385		322,857


				13,331,996

Trucking & Leasing — 0.1%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(a)(c)		125		122,576


Total Corporate Bonds & Notes — 96.8% (Cost: $179,811,824)				164,109,401


Short-Term Investments

Money Market Funds — 20.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.38%^(f)(g)(h)		31,862		31,862,409
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.34%^(f)(g)		3,555		3,555,000


				35,417,409


Total Short-Term Investments — 20.9% (Cost: $35,415,524)				35,417,409


Total Investments in Securities — 117.7% (Cost: $215,227,348)				199,526,810

Other Assets, Less Liabilities — (17.7)%				(29,955,625	)


Net Assets — 100.0%			$	169,571,185

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

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

^(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.


Security	Par (000)		Value

Corporate Bonds & Notes

Aerospace & Defense — 6.0%
Bombardier Inc.
6.00%, 02/15/28 (Call 02/15/24)^(a)	$	3,750	$	3,260,587
7.45%, 05/01/34^(a)(b)		12,439		12,212,983
Hexcel Corp.
4.20%, 02/15/27 (Call 11/15/26)^(b)		10,964		10,758,535
4.95%, 08/15/25 (Call 05/15/25)		8,733		8,867,139
Howmet Aerospace Inc.
5.13%, 10/01/24 (Call 07/01/24)^(b)		33,264		33,842,461
5.90%, 02/01/27		19,468		19,996,361
5.95%, 02/01/37^(b)		18,852		19,072,380
6.75%, 01/15/28		8,624		9,125,917
6.88%, 05/01/25 (Call 04/01/25)^(b)		17,423		18,413,497
Leonardo U.S. Holdings Inc., 6.25%, 01/15/40^(a)(b)		3,361		3,595,699
Rolls-Royce PLC, 3.63%, 10/14/25 (Call 07/14/25)^(a)(b)		28,994		27,147,372
Spirit AeroSystems Inc.
3.85%, 06/15/26 (Call 03/15/26)^(b)		8,800		8,246,744
3.95%, 06/15/23 (Call 05/15/23)^(b)		7,444		7,294,376
4.60%, 06/15/28 (Call 03/15/28)^(b)		20,359		17,595,266


				199,429,317

Airlines — 4.1%
American Airlines Inc., 11.75%, 07/15/25^(a)		1,000		1,152,330
American Airlines Inc./AAdvantage Loyalty IP Ltd.
5.50%, 04/20/26^(a)(b)		5,775		5,723,660
5.75%, 04/20/29^(a)		4,600		4,438,034
American Airlines Pass Through Trust
Series 2013-1, Class A, 4.00%, 01/15/27		5,714		5,377,518
Series 2014-1, Class A, 3.70%, 04/01/28		12,987		12,282,238
Series 2015-1, Class A, 3.38%, 11/01/28^(b)		19,093		17,783,707
Series 2016-1, Class A, 4.10%, 07/15/29^(b)		5,244		4,723,900
Series 2016-2, Class A, 3.65%, 12/15/29^(b)		5,330		4,653,464
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)^(b)		27,323		26,092,645
3.75%, 10/28/29 (Call 07/28/29)^(b)		18,604		16,424,727
3.80%, 04/19/23 (Call 03/19/23)^(b)		9,521		9,502,244
4.38%, 04/19/28 (Call 01/19/28)^(b)		12,843		12,022,332
Hawaiian Airlines Pass Through Certificates, Series 2013-1, Class A, 3.90%, 07/15/27		5,692		5,119,182
U.S. Airways Pass Through Trust
Series 2012-2, Class A, 4.63%, 12/03/26^(b)		2,511		2,408,954
Series 2013-1, Class A, 3.95%, 05/15/27^(b)		7,140		6,838,002


				134,542,937

Apparel — 0.4%
Under Armour Inc., 3.25%, 06/15/26 (Call 03/15/26)^(b)		15,654		14,456,313


Auto Manufacturers — 3.0%
Ford Holdings LLC, 9.30%, 03/01/30		1,400		1,639,120
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(b)		7,452		7,153,324
4.75%, 01/15/43^(b)		9,750		7,851,870
5.29%, 12/08/46 (Call 06/08/46)^(b)		6,108		5,250,864
6.38%, 02/01/29^(b)		1,117		1,128,092
6.63%, 10/01/28^(b)		2,301		2,388,783
7.40%, 11/01/46^(b)		2,025		2,182,099
7.45%, 07/16/31		5,546		6,051,352
Ford Motor Credit Co. LLC
3.10%, 05/04/23		4,305		4,257,387
3.66%, 09/08/24^(b)		3,745		3,634,785
3.81%, 01/09/24 (Call 11/09/23)^(b)		3,791		3,734,666


Security	Par (000)		Value

Auto Manufacturers (continued)
3.82%, 11/02/27 (Call 08/02/27)	$	3,591	$	3,267,882
4.06%, 11/01/24 (Call 10/01/24)^(b)		7,493		7,333,399
4.13%, 08/04/25		6,800		6,584,304
4.27%, 01/09/27 (Call 11/09/26)^(b)		4,563		4,316,826
4.38%, 08/06/23		4,907		4,911,662
4.39%, 01/08/26^(b)		5,761		5,556,196
4.54%, 08/01/26 (Call 06/01/26)		3,910		3,754,890
4.69%, 06/09/25 (Call 04/09/25)		3,168		3,105,559
4.95%, 05/28/27 (Call 04/28/27)		1,750		1,701,350
5.11%, 05/03/29 (Call 02/03/29)^(b)		7,400		7,012,684
5.58%, 03/18/24 (Call 02/18/24)^(b)		7,284		7,360,409


				100,177,503

Auto Parts & Equipment — 1.1%
Goodyear Tire & Rubber Co. (The), 7.00%, 03/15/28		4,168		4,239,315
ZF North America Capital Inc., 4.75%, 04/29/25^(a)(b)		31,341		30,656,826


				34,896,141

Banks — 8.1%
Commerzbank AG, 8.13%, 09/19/23^(a)(b)		25,502		26,676,112
Deutsche Bank AG
4.30%, 05/24/28 (Call 05/24/23), (5 year USD Swap + 2.248%)^(c)		38,486		37,765,542
4.50%, 04/01/25^(b)		47,121		46,171,512
Dresdner Funding Trust I, 8.15%, 06/30/31 (Call 06/30/29)^(a)		29,209		35,123,531
Intesa Sanpaolo SpA, 5.02%, 06/26/24^(a)(b)		58,124		57,131,823
UniCredit SpA
5.86%, 06/19/32 (Call 06/19/27)^(a)(b)(c)		29,092		27,738,640
7.30%, 04/02/34 (Call 04/02/29)^(a)(b)(c)		36,410		36,927,386


				267,534,546

Chemicals — 1.3%
HB Fuller Co., 4.00%, 02/15/27 (Call 11/15/26)^(b)		8,476		8,000,835
Methanex Corp.
4.25%, 12/01/24 (Call 09/01/24)		8,723		8,588,840
5.25%, 12/15/29 (Call 09/15/29)^(b)		20,400		19,502,196
5.65%, 12/01/44 (Call 06/01/44)		8,699		7,694,353


				43,786,224

Commercial Services — 0.9%
ADT Security Corp. (The), 4.13%, 06/15/23^(b)		17,167		17,055,758
S&P Global Inc.
4.25%, 05/01/29 (Call 02/01/29)^(a)		4,000		4,024,080
4.75%, 08/01/28 (Call 05/01/28)^(a)		7,250		7,511,072


				28,590,910

Computers — 2.9%
Seagate HDD Cayman
4.09%, 06/01/29 (Call 03/01/29)		14,597		13,010,014
4.13%, 01/15/31 (Call 10/15/30)		14,607		12,712,472
4.75%, 06/01/23^(b)		13,415		13,493,075
4.75%, 01/01/25^(b)		15,265		15,215,999
4.88%, 03/01/24 (Call 01/01/24)^(b)		13,047		13,110,409
4.88%, 06/01/27 (Call 03/01/27)^(b)		14,852		14,428,718
5.75%, 12/01/34 (Call 06/01/34)^(b)		14,009		13,275,769


				95,246,456

Cosmetics & Personal Care — 0.4%
Avon Products Inc.
6.50%, 03/15/23^(b)		5,000		5,166,200
8.45%, 03/15/43^(b)		5,802		6,690,634


				11,856,834


Security	Par (000)		Value

Diversified Financial Services — 0.6%
Brightsphere Investment Group Inc., 4.80%, 07/27/26	$	8,001	$	7,442,210
Navient Corp., 5.63%, 08/01/33		17,233		13,927,366


				21,369,576

Electric — 3.3%
FirstEnergy Corp.
2.05%, 03/01/25 (Call 02/01/25)		4,011		3,782,533
2.65%, 03/01/30 (Call 12/01/29)		7,844		6,665,282
Series A, 1.60%, 01/15/26 (Call 12/15/25)		3,950		3,575,777
Series B, 2.25%, 09/01/30 (Call 06/01/30)		6,063		5,062,544
Series B, 4.15%, 07/15/27 (Call 04/15/27)^(b)		18,618		18,065,604
Series C, 3.40%, 03/01/50 (Call 09/01/49)		10,928		8,138,628
Series C, 5.35%, 07/15/47 (Call 01/15/47)^(b)		12,690		11,858,678
Series C, 7.38%, 11/15/31		20,339		23,383,138
FirstEnergy Transmission LLC
4.35%, 01/15/25 (Call 10/15/24)^(a)		7,693		7,673,075
4.55%, 04/01/49 (Call 10/01/48)^(a)(b)		6,446		5,552,198
5.45%, 07/15/44 (Call 01/15/44)^(a)		5,125		5,035,108
Midland Cogeneration Venture LP, 6.00%, 03/15/25^(a)(b)		775		785,080
Panoche Energy Center LLC, 6.89%, 07/31/29^(a)(b)		217		204,097
TransAlta Corp., 6.50%, 03/15/40		8,654		8,666,462


				108,448,204

Energy - Alternate Sources — 0.7%
Topaz Solar Farms LLC, 5.75%, 09/30/39^(a)(b)		21,632		21,950,359


Engineering & Construction — 0.8%
Fluor Corp.
3.50%, 12/15/24 (Call 09/15/24)^(b)		10,999		10,807,177
4.25%, 09/15/28 (Call 06/15/28)^(b)		17,487		16,622,443


				27,429,620

Entertainment — 1.0%
Resorts World Las Vegas LLC
4.63%, 04/16/29^(d)		29,070		25,472,878
4.63%, 04/06/31 (Call 01/06/31)^(a)(b)		10,200		8,671,632


				34,144,510

Food — 0.3%
Kraft Heinz Foods Co.
4.63%, 01/30/29 (Call 10/30/28)		650		651,573
6.38%, 07/15/28^(b)		650		708,968
Safeway Inc., 7.25%, 02/01/31^(b)		7,010		7,290,540


				8,651,081

Forest Products & Paper — 0.0%
Domtar Corp., 6.25%, 09/01/42		1,411		1,010,784


Health Care - Services — 1.1%
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)^(b)		2,500		2,241,125
5.63%, 09/01/28 (Call 03/01/28)^(b)		2,500		2,583,875
7.05%, 12/01/27^(b)		2,993		3,298,945
7.50%, 11/15/95		5,441		6,315,967
7.69%, 06/15/25^(b)		7,884		8,524,260
8.36%, 04/15/24		1,641		1,760,514
Tenet Healthcare Corp.
6.13%, 10/01/28 (Call 10/01/23)^(a)(b)		2,000		1,918,800
6.88%, 11/15/31		9,593		9,939,211


				36,582,697

Housewares — 3.1%
Newell Brands Inc.
4.00%, 12/01/24 (Call 09/01/24)		5,052		5,029,013
4.10%, 04/01/23 (Call 02/01/23)^(b)		12,526		12,523,119


Security	Par (000)		Value

Housewares (continued)
4.45%, 04/01/26 (Call 01/01/26)^(b)	$	58,085	$	57,443,161
5.63%, 04/01/36 (Call 10/01/35)		11,742		11,227,583
5.75%, 04/01/46 (Call 10/01/45)		18,067		16,830,495


				103,053,371

Insurance — 1.0%
Genworth Holdings Inc., 6.50%, 06/15/34		8,636		8,045,643
Liberty Mutual Group Inc., 7.80%, 03/07/87^(a)(b)		12,605		16,099,988
MBIA Inc., 5.70%, 12/01/34^(b)		1,456		1,368,116
Provident Financing Trust I, 7.41%, 03/15/38^(b)		5,746		6,447,012


				31,960,759

Iron & Steel — 0.7%
Allegheny Ludlum LLC, 6.95%, 12/15/25^(b)		2,872		2,973,123
Cleveland-Cliffs Inc., 6.25%, 10/01/40^(b)		7,629		7,367,173
United States Steel Corp.
6.65%, 06/01/37^(b)		10,209		9,960,104
6.88%, 03/01/29 (Call 03/01/24)^(b)		1,500		1,525,605


				21,826,005

Leisure Time — 3.1%
Carnival Corp.
4.00%, 08/01/28 (Call 05/01/28)^(a)		1,250		1,125,425
6.65%, 01/15/28		5,242		4,880,302
Carnival PLC, 7.88%, 06/01/27		5,246		5,696,579
Royal Caribbean Cruises Ltd.
3.70%, 03/15/28 (Call 12/15/27)^(b)		15,130		12,712,831
7.50%, 10/15/27		8,709		8,851,218
10.88%, 06/01/23 (Call 03/01/23)^(a)		25,045		26,213,099
11.50%, 06/01/25 (Call 06/01/22)^(a)		40,690		44,247,120


				103,726,574

Lodging — 1.5%
Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)^(a)(b)		15,243		13,969,600
Travel + Leisure Co.
3.90%, 03/01/23 (Call 12/01/22)		3,500		3,497,025
5.65%, 04/01/24 (Call 02/01/24)^(b)		8,727		8,816,539
6.00%, 04/01/27 (Call 01/01/27)		11,603		11,601,027
6.60%, 10/01/25 (Call 07/01/25)^(b)		10,238		10,646,599


				48,530,790

Manufacturing — 0.7%
Hillenbrand Inc., 5.00%, 09/15/26 (Call 07/15/26)		10,999		10,754,382
Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24)^(b)		11,650		11,666,893


				22,421,275

Media — 1.0%
Belo Corp.
7.25%, 09/15/27^(b)		6,522		7,234,137
7.75%, 06/01/27^(b)		5,246		5,945,554
Liberty Interactive LLC
8.25%, 02/01/30^(b)		14,711		12,913,904
8.50%, 07/15/29^(b)		8,346		7,560,892


				33,654,487

Office & Business Equipment — 1.2%
Pitney Bowes Inc., 4.63%, 03/15/24 (Call 12/15/23)^(b)		7,336		7,234,103
Xerox Corp.
3.80%, 05/15/24^(b)		8,755		8,650,553
4.63%, 03/15/23 (Call 02/15/23)		8,000		8,000,000
4.80%, 03/01/35		7,374		5,821,699
6.75%, 12/15/39		10,033		9,294,471


				39,000,826


Security	Par (000)		Value

Office Furnishings — 0.4%
Steelcase Inc., 5.13%, 01/18/29 (Call 10/18/28)	$	12,050	$	11,749,232


Oil & Gas — 8.5%
Apache Corp.
4.25%, 01/15/30 (Call 10/15/29)^(b)		12,514		11,675,061
4.25%, 01/15/44 (Call 07/15/43)^(b)		5,619		4,496,661
4.38%, 10/15/28 (Call 07/15/28)		12,000		11,280,000
4.75%, 04/15/43 (Call 10/15/42)^(b)		9,364		8,069,427
5.10%, 09/01/40 (Call 03/01/40)^(b)		31,142		28,184,756
5.25%, 02/01/42 (Call 08/01/41)^(b)		8,672		8,000,180
5.35%, 07/01/49 (Call 01/01/49)		8,618		7,600,559
6.00%, 01/15/37		10,495		10,867,153
7.38%, 08/15/47^(b)		2,872		3,073,672
7.75%, 12/15/29		5,171		5,833,095
EQT Corp., 6.63%, 02/01/25 (Call 01/01/25)		7,750		8,071,470
Global Marine Inc., 7.00%, 06/01/28		7,688		5,408,431
Murphy Oil Corp.
6.38%, 12/01/42 (Call 06/01/42)		10,159		9,189,730
7.05%, 05/01/29		7,228		7,453,514
Occidental Petroleum Corp.
3.00%, 02/15/27 (Call 11/15/26)^(b)		3,691		3,439,606
3.20%, 08/15/26 (Call 06/15/26)		4,921		4,626,183
3.40%, 04/15/26 (Call 01/15/26)		4,870		4,636,727
3.50%, 08/15/29 (Call 05/15/29)^(b)		8,296		7,792,267
4.10%, 02/15/47 (Call 08/15/46)		3,981		3,311,953
4.20%, 03/15/48 (Call 09/15/47)		5,418		4,492,497
4.30%, 08/15/39 (Call 02/15/39)		4,252		3,624,320
4.40%, 04/15/46 (Call 10/15/45)		5,690		4,896,529
4.40%, 08/15/49 (Call 02/15/49)		3,978		3,363,160
4.50%, 07/15/44 (Call 01/15/44)^(b)		3,480		2,990,016
4.63%, 06/15/45 (Call 12/15/44)		3,821		3,285,869
5.55%, 03/15/26 (Call 12/15/25)		6,729		6,895,610
6.20%, 03/15/40		4,681		4,842,775
6.45%, 09/15/36		12,013		13,026,537
6.60%, 03/15/46 (Call 09/15/45)		6,555		7,158,650
6.95%, 07/01/24		3,727		3,907,908
7.50%, 05/01/31		5,380		6,153,160
7.88%, 09/15/31		3,127		3,657,464
7.95%, 06/15/39^(b)		2,090		2,520,979
Patterson-UTI Energy Inc.
3.95%, 02/01/28 (Call 11/01/27)		13,617		12,528,593
5.15%, 11/15/29 (Call 08/15/29)^(b)		10,113		9,624,845
Southwestern Energy Co., 5.95%, 01/23/25 (Call 10/23/24)^(b)		11,316		11,486,419
Transocean Inc.
6.80%, 03/15/38^(b)		18,261		11,098,123
7.50%, 04/15/31		11,555		7,568,872
9.35%, 12/15/41		4,694		3,113,014


				279,245,785

Oil & Gas Services — 0.3%
Oceaneering International Inc., 4.65%, 11/15/24 (Call 08/15/24)^(b)		11,655		11,279,942


Packaging & Containers — 1.2%
Crown Cork & Seal Co. Inc., 7.38%, 12/15/26		9,825		10,465,787
Pactiv LLC
7.95%, 12/15/25		8,139		8,012,032
8.38%, 04/15/27^(b)		5,822		5,755,338
Sealed Air Corp., 6.88%, 07/15/33^(a)(b)		12,887		14,130,595


				38,363,752


Security	Par (000)		Value

Pharmaceuticals — 2.3%
Owens & Minor Inc., 4.38%, 12/15/24 (Call 09/15/24)^(b)	$	6,768	$	6,798,321
Perrigo Co. PLC, 4.00%, 11/15/23 (Call 05/20/22)^(b)		3,650		3,717,635
Perrigo Finance Unlimited Co.
3.90%, 12/15/24 (Call 09/15/24)		20,238		19,849,430
3.90%, 06/15/30 (Call 03/15/30)^(b)		22,091		19,829,544
4.38%, 03/15/26 (Call 12/15/25)^(b)		20,535		19,876,032
4.90%, 12/15/44 (Call 06/15/44)		8,978		7,223,250


				77,294,212

Pipelines — 13.6%
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)^(b)		17,820		16,812,101
4.13%, 12/01/27 (Call 09/01/27)		14,471		13,252,976
4.15%, 07/01/23 (Call 04/01/23)^(b)		13,043		12,970,351
4.35%, 10/15/24 (Call 07/15/24)^(b)		8,750		8,575,175
5.60%, 10/15/44 (Call 04/15/44)^(b)		8,837		7,082,944
5.85%, 11/15/43 (Call 05/15/43)^(b)		13,961		10,977,115
6.75%, 08/15/33^(b)		449		453,005
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)		6,000		5,985,300
5.60%, 04/01/44 (Call 10/01/43)		11,763		11,249,427
6.45%, 11/03/36^(a)(b)		8,556		9,568,431
6.75%, 09/15/37^(a)		13,622		15,297,234
8.13%, 08/16/30		8,734		10,276,599
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)		21,440		20,806,877
4.40%, 04/01/24 (Call 01/01/24)^(b)		13,714		13,533,249
4.85%, 07/15/26 (Call 04/15/26)^(b)		14,394		14,034,870
5.05%, 04/01/45 (Call 10/01/44)^(b)		13,269		10,321,424
5.45%, 06/01/47 (Call 12/01/46)		14,843		12,022,978
5.60%, 04/01/44 (Call 10/01/43)		10,589		8,694,522
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)^(b)		13,109		12,687,939
4.13%, 12/01/26 (Call 09/01/26)^(b)		13,227		12,278,227
4.75%, 07/15/23 (Call 06/15/23)^(b)		15,214		15,158,165
5.50%, 07/15/28 (Call 04/15/28)^(b)		25,218		24,089,495
6.50%, 07/15/48 (Call 01/15/48)^(b)		16,766		15,429,582
Rockies Express Pipeline LLC
3.60%, 05/15/25 (Call 04/15/25)^(a)		11,588		11,001,531
4.80%, 05/15/30 (Call 02/15/30)^(a)(b)		10,225		9,398,513
4.95%, 07/15/29 (Call 04/15/29)^(a)(b)		16,102		15,100,456
6.88%, 04/15/40^(a)		15,092		14,397,164
7.50%, 07/15/38^(a)		7,328		7,236,473
Southeast Supply Header LLC, 4.25%, 06/15/24 (Call 03/15/24)^(a)		11,634		11,462,864
Western Midstream Operating LP
3.60%, 02/01/25 (Call 01/01/25)		12,059		11,536,001
3.95%, 06/01/25 (Call 03/01/25)		7,003		6,802,434
4.50%, 03/01/28 (Call 12/01/27)		6,884		6,595,354
4.55%, 02/01/30 (Call 11/01/29)^(b)		21,729		20,018,928
4.65%, 07/01/26 (Call 04/01/26)		8,222		8,105,741
4.75%, 08/15/28 (Call 05/15/28)		6,732		6,554,208
5.30%, 03/01/48 (Call 09/01/47)		11,691		10,154,569
5.45%, 04/01/44 (Call 10/01/43)		10,075		9,246,231
5.50%, 08/15/48 (Call 02/15/48)		5,917		5,200,451
5.75%, 02/01/50 (Call 08/01/49)		16,495		14,552,219


				448,921,123


Security	Par (000)		Value


Real Estate Investment Trusts — 3.6%
Diversified Healthcare Trust
4.75%, 05/01/24 (Call 11/01/23)	$	7,285	$	6,923,518
4.75%, 02/15/28 (Call 08/15/27)^(b)		14,587		12,442,857
Service Properties Trust
3.95%, 01/15/28 (Call 07/15/27)^(b)		9,924		7,860,403
4.35%, 10/01/24 (Call 09/01/24)^(b)		20,477		18,948,597
4.38%, 02/15/30 (Call 08/15/29)^(b)		10,195		7,826,600
4.50%, 06/15/23 (Call 12/15/22)^(b)		12,249		12,005,612
4.50%, 03/15/25 (Call 09/15/24)		8,866		8,023,021
4.65%, 03/15/24 (Call 09/15/23)^(b)		8,799		8,356,058
4.75%, 10/01/26 (Call 08/01/26)		11,340		9,852,646
4.95%, 02/15/27 (Call 08/15/26)^(b)		10,206		8,852,174
4.95%, 10/01/29 (Call 07/01/29)		10,857		8,684,840
5.25%, 02/15/26 (Call 08/15/25)		8,771		7,850,659


				117,626,985

Retail — 7.9%
Bath & Body Works Inc.
6.95%, 03/01/33		10,229		9,727,779
7.60%, 07/15/37^(b)		7,256		6,996,743
Bed Bath & Beyond Inc.
3.75%, 08/01/24 (Call 05/01/24)^(b)		8,431		7,772,033
4.92%, 08/01/34 (Call 02/01/34)^(b)		6,675		4,560,494
5.17%, 08/01/44 (Call 02/01/44)^(b)		19,853		11,048,195
Brinker International Inc.
3.88%, 05/15/23^(b)		7,778		7,751,010
5.00%, 10/01/24 (Call 07/01/24)^(a)(b)		10,074		10,068,963
Macy’s Retail Holdings LLC
4.30%, 02/15/43 (Call 08/15/42)^(b)		7,728		5,320,342
4.50%, 12/15/34 (Call 06/15/34)		12,780		9,986,803
5.13%, 01/15/42 (Call 07/15/41)		7,567		5,656,484
6.38%, 03/15/37^(b)		5,571		4,803,595
Marks & Spencer PLC, 7.13%, 12/01/37^(a)		8,702		8,846,540
Nordstrom Inc.
4.00%, 03/15/27 (Call 12/15/26)^(b)		10,218		9,487,924
4.25%, 08/01/31 (Call 05/01/31)^(b)		12,391		10,594,429
4.38%, 04/01/30 (Call 01/01/30)^(b)		14,746		12,980,314
5.00%, 01/15/44 (Call 07/15/43)^(b)		28,372		23,265,040
6.95%, 03/15/28^(b)		8,828		9,032,545
QVC Inc.
4.38%, 03/15/23^(b)		8,500		8,506,205
4.45%, 02/15/25 (Call 11/15/24)^(b)		15,781		15,298,575
4.75%, 02/15/27 (Call 11/15/26)^(b)		18,595		16,682,318
4.85%, 04/01/24^(b)		15,731		15,636,614
5.45%, 08/15/34 (Call 02/15/34)^(b)		11,726		9,485,630
5.95%, 03/15/43		8,671		6,765,981
Rite Aid Corp., 7.70%, 02/15/27^(b)		6,823		4,768,799
Yum! Brands Inc.
3.88%, 11/01/23 (Call 08/01/23)		8,220		8,278,362
4.63%, 01/31/32 (Call 10/01/26)^(b)		1,000		912,660
5.35%, 11/01/43 (Call 05/01/43)^(b)		7,926		7,430,308
6.88%, 11/15/37^(b)		9,522		10,099,890


				261,764,575

Software — 0.4%
CDK Global Inc., 5.00%, 10/15/24 (Call 07/15/24)^(b)		12,364		12,761,132


Telecommunications — 11.7%
Embarq Corp., 8.00%, 06/01/36		42,381		38,161,971
Frontier Florida LLC, Series E, 6.86%, 02/01/28		8,673		8,553,573
Frontier North Inc., Series G, 6.73%, 02/15/28		6,411		6,376,188


Security	Par/ Shares (000)		Value


Telecommunications (continued)
Lumen Technologies Inc.
Series G, 6.88%, 01/15/28^(b)	$	12,452	$	11,740,866
Series P, 7.60%, 09/15/39^(b)		15,317		13,386,292
Series U, 7.65%, 03/15/42^(b)		13,903		12,339,191
Nokia OYJ, 6.63%, 05/15/39		14,547		16,792,039
Qwest Corp., 7.25%, 09/15/25		6,877		7,453,018
Sprint Capital Corp.
6.88%, 11/15/28^(b)		46,637		51,163,121
8.75%, 03/15/32		37,466		47,618,911
Telecom Italia Capital SA
6.00%, 09/30/34^(b)		26,256		22,476,711
6.38%, 11/15/33		26,344		23,301,531
7.20%, 07/18/36		26,565		24,001,478
7.72%, 06/04/38		26,517		24,890,447
United States Cellular Corp., 6.70%, 12/15/33^(b)		15,741		16,139,877
Vodafone Group PLC, 7.00%, 04/04/79 (Call 01/04/29)^(b)(c)		59,565		63,070,400


				387,465,614

Toys, Games & Hobbies — 0.5%
Mattel Inc.
3.15%, 03/15/23 (Call 12/15/22)		500		499,235
5.45%, 11/01/41 (Call 05/01/41)^(b)		8,751		8,786,179
6.20%, 10/01/40		7,298		7,645,312


				16,930,726

Transportation — 0.3%
XPO CNW Inc., 6.70%, 05/01/34^(b)		8,630		8,885,880


Total Corporate Bonds & Notes — 99.0% (Cost: $3,666,062,590)				3,266,567,057


Short-Term Investments

Money Market Funds — 10.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.38%^(e)(f)(g)		332,582		332,582,486
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.34%^(e)(f)		4,850		4,850,000


				337,432,486


Total Short-Term Investments — 10.2% (Cost: $337,462,359)				337,432,486


Total Investments in Securities — 109.2% (Cost: $4,003,524,949)				3,603,999,543

Other Assets, Less Liabilities — (9.2)%				(302,738,203	)


Net Assets — 100.0%			$	3,301,261,340

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

^(e)	Affiliate of the Fund.

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

^(g)	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. 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.

Warrants: Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.

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 each Fund, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund as follows:

Expense Waivers: The total of the investment advisory fee and any fund other expenses are a fund’s total annual operating expenses. BFA has contractually agreed to waive a portion of its investment advisory fee through February 28, 2023 in order to limit the iShares Broad USD High Yield Corporate Bond ETF’s total annual operating expenses after fee waiver to 0.15% of average daily net assets.

This amount is included in investment advisory fees waived in the Statements of Operations. For the six months ended April 30, 2022, the amounts waived in investment advisory fees pursuant to this arrangement were as follows:

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

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

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

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

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

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the six months ended April 30, 2022, the Funds paid BTC the following amounts for securities lending agent services:

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

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

For the six months ended April 30, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

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

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

For the six months ended April 30, 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 April 30, 2022, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

As of October 31, 2021, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:

As of April 30, 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.

Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.

The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs.

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.

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

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

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

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

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

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 0-5 Year High Yield Corporate Bond ETF, iShares Broad USD High Yield Corporate Bond ETF, iShares ESG Advanced High Yield Corporate Bond ETF and iShares Fallen Angels USD 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.

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 Bloomberg Index Services Limited, ICE Data Indices, LLC, or Markit Indices Limited, nor do these companies make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the companies listed above.


				Average Annual Total Returns							Cumulative Total Returns

	6 Months			1 Year			5 Years			Since Inception	1 Year			5 Years			Since Inception

Fund NAV		(3.63	)%		(2.04	)%		3.17	%	3.38%		(2.04	)%		16.89	%		32.79	%
Fund Market		(4.00	)		(2.52	)		3.00		3.33		(2.52	)		15.95			32.26
Index		(3.43	)		(1.74	)		3.56		3.72		(1.74	)		19.12			36.59


Actual				Hypothetical 5% Return


Beginning Account Value (11/01/21)	Ending Account Value (04/30/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (11/01/21)	Ending Account Value (04/30/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

$ 1,000.00	$ 963.70	$ 1.46			$ 1,000.00	$ 1,023.30	$ 1.51		0.30	%



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

Baa		2.4%
Ba		39.6
B		42.8
Caa		11.0
Ca		0.3
Not Rated		3.9



Maturity		Percent of Total Investments^(a)

0-1 Year		4.9%
1-2 Years		7.6
2-3 Years		20.9
3-4 Years		37.4
4-5 Years		29.2


				Average Annual Total Returns				Cumulative Total Returns

	6 Months			1 Year			Since Inception	1 Year			Since Inception

Fund NAV		(7.25	)%		(5.07	)%	3.05%		(5.07	)%		14.52	%
Fund Market		(7.97	)		(5.83	)	2.90		(5.83	)		13.79
Index		(7.21	)		(4.98	)	3.15		(4.98	)		15.04


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
Fund Summary		4
About Fund Performance		8
Shareholder Expenses		8
Schedules of Investments		9
Financial Statements
Statements of Assets and Liabilities		63
Statements of Operations		64
Statements of Changes in Net Assets		65
Financial Highlights		67
Notes to Financial Statements		71
Statement Regarding Liquidity Risk Management Program		79
Supplemental Information		80
General Information		81
Glossary of Terms Used in this Report		82


Fund Summary as of April 30, 2022		iShares^® 0-5 Year High Yield Corporate Bond ETF


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


Fund Summary as of April 30, 2022		iShares^® Broad USD High Yield Corporate Bond ETF



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

Baa		2.1%
Ba		42.9
B		40.7
Caa		11.9
Ca		0.1
C		0.1
Not Rated		2.2


Fund Summary as of April 30, 2022		iShares^® ESG Advanced High Yield Corporate Bond ETF



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

Baa		3.8%
Ba		51.5
B		38.3
Caa		4.8
Not Rated		1.6


Fund Summary as of April 30, 2022		iShares^® Fallen Angels USD Bond ETF



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

A		0.3%
Baa		9.8
Ba		68.5
B		16.0
Caa		1.8
C		0.7
Not Rated		2.9


				Average Annual Total Returns							Cumulative Total Returns

	6 Months			1 Year			5 Years			Since Inception	1 Year			5 Years			Since Inception

Fund NAV		(8.08	)%		(6.65	)%		3.01	%	4.29%		(6.65	)%		16.00	%		27.99	%
Fund Market		(8.63	)		(7.23	)		2.88		4.20		(7.23	)		15.25			27.40
Index		(8.39	)		(6.79	)		3.29		4.57		(6.79	)		17.59			30.07


				Average Annual Total Returns							Cumulative Total Returns

	6 Months			1 Year			5 Years			Since Inception	1 Year			5 Years			Since Inception

Fund NAV		(10.09	)%		(6.67	)%		4.79	%	6.61%		(6.67	)%		26.34	%		45.71	%
Fund Market		(11.08	)		(7.64	)		4.46		6.45		(7.64	)		24.35			44.38
Index		(9.96	)		(6.10	)		5.54		7.23		(6.10	)		30.93			50.75




Affiliated Issuer	Value at 10/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 04/30/22		Shares Held at 04/30/22 (000)		Income			Capital Gain Distributions from Underlying Funds


BlackRock Cash Funds: Institutional, SL Agency Shares	$	527,959,918	$	417,002,712	^(a)	$	—		$	(153,532	)	$	(103,566	)	$	944,705,532		944,706	$	1,271,978	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		174,829,000		—			(136,840,000	)^(a)		—			—			37,989,000		37,989		30,622			—


									$	(153,532	)	$	(103,566	)	$	982,694,532			$	1,302,600		$	—




	Level 1		Level 2		Level 3		Total


Investments
Assets
Corporate Bonds & Notes	$	—	$	4,977,711,623	$	—	$	4,977,711,623
Common Stocks		—		—		123,041		123,041
Warrants		—		—		—		—
Money Market Funds		982,694,532		—		—		982,694,532


	$	982,694,532	$	4,977,711,623	$	123,041	$	5,960,529,196


	iShares 0-5 Year High Yield Corporate Bond ETF				iShares Broad USD High Yield Corporate Bond ETF			iShares ESG Advanced High Yield Corporate Bond ETF			iShares Fallen Angels USD Bond ETF


ASSETS
Investments in securities, at value (including securities on loan)^(a):
Unaffiliated^(b)		$	4,977,834,664		$	6,506,906,057		$	164,109,401			$	3,266,567,057
Affiliated^(c)			982,694,532			1,561,269,211			35,417,409				337,432,486
Cash			214,111			258,415			9,958				138,430
Receivables:
Investments sold			17,777,188			39,662,261			1,467,280				31,840,124
Securities lending income — Affiliated			285,593			434,464			7,501				166,063
Capital shares sold			2,439,918			41,280			—				—
Dividends			13,968			17,844			805				1,368
Interest			80,295,593			104,247,337			2,398,377				47,568,794


Total assets			6,061,555,567			8,212,836,869			203,410,731				3,683,714,322


LIABILITIES
Collateral on securities loaned, at value			945,008,034			1,472,698,235			31,874,762				332,822,128
Payables:
Investments purchased			39,693,409			46,643,699			1,915,475				48,928,376
Investment advisory fees			1,298,187			835,544			49,309				702,478


Total liabilities			985,999,630			1,520,177,478			33,839,546				382,452,982


NET ASSETS		$	5,075,555,937		$	6,692,659,391		$	169,571,185			$	3,301,261,340


NET ASSETS CONSIST OF:
Paid-in capital		$	5,605,982,111		$	7,353,604,849		$	186,065,577			$	3,719,880,394
Accumulated loss			(530,426,174	)		(660,945,458	)		(16,494,392	)			(418,619,054	)


NET ASSETS		$	5,075,555,937		$	6,692,659,391		$	169,571,185			$	3,301,261,340


Shares outstanding			118,500,000			179,650,000			3,650,000				124,550,000


Net asset value		$	42.83		$	37.25		$	46.46			$	26.51


Shares authorized			Unlimited			Unlimited			Unlimited				Unlimited


Par value			None			None			None				None


^(a) Securities loaned, at value		$	906,078,127		$	1,404,789,066		$	30,517,063			$	321,073,620
^(b) Investments, at cost — Unaffiliated		$	5,212,369,169		$	7,135,587,855		$	179,811,824			$	3,666,062,590
^(c) Investments, at cost — Affiliated		$	982,635,305		$	1,561,357,938		$	35,415,524			$	337,462,359


	iShares 0-5 Year High Yield Corporate Bond ETF			iShares Broad USD High Yield Corporate Bond ETF			iShares ESG Advanced High Yield Corporate Bond ETF			iShares Fallen Angels USD Bond ETF


INVESTMENT INCOME
Dividends — Affiliated	$	71,807		$	116,502		$	2,414		$	46,464
Interest — Unaffiliated		121,068,758			196,069,171			3,272,982			79,857,196
Securities lending income — Affiliated — net		1,230,793			2,091,474			29,355			1,140,220
Other income — Unaffiliated		276,408			154,302			12,756			99,742


Total investment income		122,647,766			198,431,449			3,317,507			81,143,622


EXPENSES
Investment advisory fees		7,802,352			8,631,306			261,825			5,238,328
Professional fees		217			217			217			217


Total expenses		7,802,569			8,631,523			262,042			5,238,545

Less:
Investment advisory fees waived		—			(2,746,325	)		—			—


Total expenses after fees waived		7,802,569			5,885,198			262,042			5,238,545


Net investment income		114,845,197			192,546,251			3,055,465			75,905,077


REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) from:
Investments — Unaffiliated		(1,268,304	)		19,549,656			(986,881	)		(23,777,317	)
Investments — Affiliated		(153,532	)		(376,318	)		(10,993	)		(155,211	)
In-kind redemptions — Unaffiliated		1,314,434			10,335,429			—			(712,042	)


Net realized gain (loss)		(107,402	)		29,508,767			(997,874	)		(24,644,570	)


Net change in unrealized appreciation (depreciation) on:
Investments — Unaffiliated		(308,489,468	)		(786,442,805	)		(16,051,995	)		(478,875,567	)
Investments — Affiliated		(103,566	)		(212,557	)		865			(37,700	)


Net change in unrealized appreciation (depreciation)		(308,593,034	)		(786,655,362	)		(16,051,130	)		(478,913,267	)


Net realized and unrealized loss		(308,700,436	)		(757,146,595	)		(17,049,004	)		(503,557,837	)


NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	(193,855,239	)	$	(564,600,344	)	$	(13,993,539	)	$	(427,652,760	)


	iShares 0-5 Year High Yield Corporate Bond ETF						iShares Broad USD High Yield Corporate Bond ETF


	Six Months Ended 04/30/22 (unaudited)			Year Ended 10/31/21			Six Months Ended 04/30/22 (unaudited)			Year Ended 10/31/21


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income	$	114,845,197		$	236,245,878		$	192,546,251		$	378,419,431
Net realized gain (loss)		(107,402	)		122,567,123			29,508,767			153,135,352
Net change in unrealized appreciation (depreciation)		(308,593,034	)		91,926,600			(786,655,362	)		169,317,978


Net increase (decrease) in net assets resulting from operations		(193,855,239	)		450,739,601			(564,600,344	)		700,872,761


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders		(124,870,994	)		(250,267,859	)		(205,091,897	)		(391,636,803	)


CAPITAL SHARE TRANSACTIONS
Net increase (decrease) in net assets derived from capital share transactions		(39,564,126	)		329,076,100			(846,290,971	)		1,805,332,975


NET ASSETS
Total increase (decrease) in net assets		(358,290,359	)		529,547,842			(1,615,983,212	)		2,114,568,933

Beginning of period		5,433,846,296			4,904,298,454			8,308,642,603			6,194,073,670


End of period	$	5,075,555,937		$	5,433,846,296		$	6,692,659,391		$	8,308,642,603


	iShares ESG Advanced High Yield Corporate Bond ETF							iShares Fallen Angels USD Bond ETF
	Six Months Ended 04/30/22 (unaudited)				Year Ended 10/31/21			Six Months Ended 04/30/22 (unaudited)			Year Ended 10/31/21


INCREASE (DECREASE) IN NET ASSETS

OPERATIONS
Net investment income		$	3,055,465		$	3,759,193		$	75,905,077		$	73,573,961
Net realized gain (loss)			(997,874	)		777,813			(24,644,570	)		30,508,946
Net change in unrealized appreciation (depreciation)			(16,051,130	)		199,702			(478,913,267	)		60,024,689


Net increase (decrease) in net assets resulting from operations			(13,993,539	)		4,736,708			(427,652,760	)		164,107,596


DISTRIBUTIONS TO SHAREHOLDERS^(a)
Decrease in net assets resulting from distributions to shareholders			(3,707,100	)		(4,106,362	)		(78,135,187	)		(66,582,989	)


CAPITAL SHARE TRANSACTIONS
Net increase (decrease) in net assets derived from capital share transactions			62,705,896			62,700,777			(869,452,072	)		4,257,005,303


NET ASSETS
Total increase (decrease) in net assets			45,005,257			63,331,123			(1,375,240,019	)		4,354,529,910
Beginning of period			124,565,928			61,234,805			4,676,501,359			321,971,449


End of period		$	169,571,185		$	124,565,928		$	3,301,261,340		$	4,676,501,359


	iShares 0-5 Year High Yield Corporate Bond ETF
	Six Months Ended 04/30/22 (unaudited)				Year Ended 10/31/21			Year Ended 10/31/20			Year Ended 10/31/19			Year Ended 10/31/18			Year Ended 10/31/17


Net asset value, beginning of period		$	45.51		$	43.75		$	46.20		$	46.19		$	47.53		$	46.92


Net investment income^(a)			0.97			2.09			2.26			2.55			2.56			2.65
Net realized and unrealized gain (loss)^(b)			(2.60	)		1.90			(2.36	)		0.01			(1.38	)		0.58

Net increase (decrease) from investment operations			(1.63	)		3.99			(0.10	)		2.56			1.18			3.23


Distributions^(c)
From net investment income			(1.05	)		(2.23	)		(2.35	)		(2.55	)		(2.52	)		(2.62	)


Total distributions			(1.05	)		(2.23	)		(2.35	)		(2.55	)		(2.52	)		(2.62	)


Net asset value, end of period		$	42.83		$	45.51		$	43.75		$	46.20		$	46.19		$	47.53


Total Return^(d)
Based on net asset value			(3.63	)%^(e)		9.25	%		(0.10	)%		5.71	%		2.55	%		7.06	%


Ratios to Average Net Assets^(f)
Total expenses			0.30	%^(g)		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%


Net investment income			4.42	%^(g)		4.59	%		5.15	%		5.54	%		5.46	%		5.59	%


Supplemental Data
Net assets, end of period (000)		$	5,075,556		$	5,433,846		$	4,904,298		$	3,349,716		$	3,126,800		$	3,602,986


Portfolio turnover rate^(h)			15	%^(e)		39	%		45	%		31	%		35	%		35	%


	iShares Broad USD High Yield Corporate Bond ETF
		Six Months Ended 04/30/22					Year Ended			Year Ended			Year Ended		Year Ended					Period From 10/25/17	^(b)
		(unaudited)					10/31/21			10/31/20			10/31/19	^(a)			10/31/18	^(a)		to 10/31/17	^(a)


Net asset value, beginning of period			$	41.21		$	39.34		$	40.61		$	39.80			$	41.67		$	41.67


Net investment income^(c)				0.97			2.02			2.21			2.52				2.39			0.03
Net realized and unrealized gain (loss)^(d)				(3.90	)		1.97			(1.23	)		0.74				(2.17	)		(0.03	)


Net increase (decrease) from investment operations				(2.93	)		3.99			0.98			3.26				0.22			0.00


Distributions^(e)
From net investment income				(1.03	)		(2.12	)		(2.25	)		(2.45	)			(2.09	)		—


Total distributions				(1.03	)		(2.12	)		(2.25	)		(2.45	)			(2.09	)		—


Net asset value, end of period			$	37.25		$	41.21		$	39.34		$	40.61			$	39.80		$	41.67


Total Return^(f)
Based on net asset value				(7.25	)%^(g)		10.31	%		2.61	%		8.48	%			0.55	%		0.00	%^(g)


Ratios to Average Net Assets^(h)
Total expenses				0.22	%⁽ⁱ⁾		0.22	%		0.22	%		0.22	%			0.22	%		0.22	%⁽ⁱ⁾


Total expenses after fees waived				0.15	%⁽ⁱ⁾		0.15	%		0.15	%		0.16	%			0.22	%		0.22	%⁽ⁱ⁾


Net investment income				4.91	%⁽ⁱ⁾		4.91	%		5.67	%		6.23	%			5.89	%		3.19	%⁽ⁱ⁾


Supplemental Data
Net assets, end of period (000)			$	6,692,659		$	8,308,643		$	6,194,074		$	2,595,057			$	255,533		$	49,997


Portfolio turnover rate^(j)				8	%^(g)		24	%		21	%		19	%			15	%		0	%^(g)


	iShares ESG Advanced High Yield Corporate Bond ETF
	Six Months Ended 04/30/22				Year Ended				Year Ended				Year Ended				Year Ended				Year Ended
	(unaudited)					10/31/21				10/31/20				10/31/19				10/31/18				10/31/17


Net asset value, beginning of period		$	51.90			$	51.03			$	51.81			$	49.54			$	51.90			$	51.28


Net investment income^(a)			1.00				1.97				2.41				2.88				2.93				3.00
Net realized and unrealized gain (loss)^(b)			(5.10	)			1.18				(0.73	)			2.34				(2.37	)			0.54


Net increase (decrease) from investment operations			(4.10	)			3.15				1.68				5.22				0.56				3.54


Distributions^(c)
From net investment income			(1.05	)			(2.07	)			(2.46	)			(2.95	)			(2.92	)			(2.92	)
From net realized gain			(0.29	)			(0.21	)			—				—				—				—


Total distributions			(1.34	)			(2.28	)			(2.46	)			(2.95	)			(2.92	)			(2.92	)


Net asset value, end of period		$	46.46			$	51.90			$	51.03			$	51.81			$	49.54			$	51.90


Total Return^(d)
Based on net asset value			(8.08	)%^(e)			6.25	%			3.42	%			10.88	%			1.13	%			7.09	%


Ratios to Average Net Assets^(f)
Total expenses			0.35	%^(g)			0.35	%			0.47	%			0.50	%			0.50	%			0.50	%


Net investment income			4.08	%^(g)			3.78	%			4.78	%			5.70	%			5.80	%			5.80	%


Supplemental Data
Net assets, end of period (000)		$	169,571			$	124,566			$	61,235			$	23,316			$	9,908			$	10,380


Portfolio turnover rate^(h)			13	%^(e)			43	%			85	%			24	%			24	%			18	%


	iShares Fallen Angels USD Bond ETF


	Six Months Ended 04/30/22 (unaudited)				Year Ended 10/31/21			Year Ended 10/31/20			Year Ended 10/31/19				Year Ended 10/31/18				Year Ended 10/31/17


Net asset value, beginning of period		$	30.04		$	27.29		$	26.58			$	25.90			$	27.64			$	26.77


Net investment income^(a)			0.52			1.06			1.54				1.50				1.50				1.62
Net realized and unrealized gain (loss)^(b)			(3.52	)		2.83			0.65				0.67				(1.49	)			0.89


Net increase (decrease) from investment operations			(3.00	)		3.89			2.19				2.17				0.01				2.51


Distributions^(c)
From net investment income			(0.53	)		(1.14	)		(1.48	)			(1.49	)			(1.42	)			(1.56	)
From net realized gain			—			—			—				—				(0.33	)			(0.08	)


Total distributions			(0.53	)		(1.14	)		(1.48	)			(1.49	)			(1.75	)			(1.64	)


Net asset value, end of period		$	26.51		$	30.04		$	27.29			$	26.58			$	25.90			$	27.64


Total Return^(d)
Based on net asset value			(10.09	)%^(e)		14.45	%		8.68	%			8.70	%			0.04	%			9.72	%


Ratios to Average Net Assets^(f)
Total expenses			0.25	%^(g)		0.25	%		0.25	%			0.25	%			0.25	%			0.33	%


Net investment income			3.62	%^(g)		3.57	%		5.84	%			5.73	%			5.65	%			5.98	%


Supplemental Data
Net assets, end of period (000)		$	3,301,261		$	4,676,501		$	321,971			$	143,525			$	67,337			$	15,204


Portfolio turnover rate^(h)			15	%^(e)		21	%		51	%			23	%			29	%			31	%



iShares ETF	Diversification Classification

0-5 Year High Yield Corporate Bond		Diversified
Broad USD High Yield Corporate Bond		Diversified
ESG Advanced High Yield Corporate Bond		Diversified
Fallen Angels USD Bond		Diversified




iShares ETF and Counterparty		Market Value of Securities on Loan		Cash Collateral Received	^(a)		Non-Cash Collateral Received		Net Amount


0-5 Year High Yield Corporate Bond
Barclays Bank PLC	$	81,584,065	$	81,584,065		$	—	$	—
Barclays Capital, Inc.		28,432,128		28,432,128			—		—
BMO Capital Markets Corp.		284,694		284,694			—		—
BNP Paribas SA		88,789,258		88,789,258			—		—
BofA Securities, Inc.		33,125,187		33,125,187			—		—
Citadel Clearing LLC		2,412,100		2,412,100			—		—
Citigroup Global Markets, Inc.		35,582,761		35,582,761			—		—
Credit Suisse Securities (USA) LLC		16,215,333		16,215,333			—		—
Deutsche Bank Securities, Inc.		30,615,781		30,615,781			—		—
Goldman Sachs & Co. LLC		249,826,662		249,826,662			—		—
HSBC Securities (USA), Inc.		2,979,531		2,979,531			—		—
J.P. Morgan Securities LLC		237,718,195		237,718,195			—		—
Jefferies LLC		3,419,688		3,419,688			—		—
Mitsubishi UFJ Securities Holdings Co., Ltd.		2,544,747		2,544,747			—		—
Nomura Securities International, Inc.		9,715,777		9,715,777			—		—
Pershing LLC		1,539,121		1,539,121			—		—
RBC Capital Markets LLC		39,524,493		39,524,493			—		—
Scotia Capital (USA), Inc.		16,443,160		16,443,160			—		—
State Street Bank & Trust Co.		6,496,217		6,496,217			—		—
Toronto-Dominion Bank		289,459		289,459			—		—
Wells Fargo Bank N.A.		12,632		12,632			—		—
Wells Fargo Securities LLC		18,527,138		18,527,138			—		—

	$	906,078,127	$	906,078,127		$	—	$	—


Broad USD High Yield Corporate Bond
Barclays Bank PLC	$	79,477,392	$	79,477,392		$	—	$	—
Barclays Capital, Inc.		55,665,584		55,665,584			—		—
BMO Capital Markets Corp.		15,282,332		15,282,332			—		—
BNP Paribas SA		7,523,947		7,523,947			—		—
BofA Securities, Inc.		61,445,855		61,445,855			—		—
Citadel Clearing LLC		22,427,464		22,427,464			—		—
Citigroup Global Markets, Inc.		78,657,025		78,657,025			—		—
Credit Suisse Securities (USA) LLC		15,451,109		15,451,109			—		—
Goldman Sachs & Co. LLC		384,533,198		384,533,198			—		—
J.P. Morgan Securities LLC		396,213,585		396,213,585			—		—
Jefferies LLC		13,740,306		13,740,306			—		—
Morgan Stanley		89,392,375		89,392,375			—		—
Nomura Securities International, Inc.		25,156,576		25,156,576			—		—
Pershing LLC		2,660,183		2,660,183			—		—
RBC Capital Markets LLC		78,492,937		78,492,937			—		—
Scotia Capital (USA), Inc.		17,008,326		17,008,326			—		—
State Street Bank & Trust Co.		14,281,945		14,281,945			—		—
Toronto-Dominion Bank		3,741,570		3,741,570			—		—
UBS AG		628,709		628,709			—		—
Wells Fargo Bank N.A.		5,539,743		5,539,743			—		—
Wells Fargo Securities LLC		37,468,905		37,468,905			—		—

	$	1,404,789,066	$	1,404,789,066		$	—	$	—



iShares ETF	Investment Advisory Fee

0-5 Year High Yield Corporate Bond		0.30	%
Broad USD High Yield Corporate Bond		0.22
ESG Advanced High Yield Corporate Bond		0.35
Fallen Angels USD Bond		0.25



iShares ETF	Amounts waived

Broad USD High Yield Corporate Bond	$	2,746,325



iShares ETF	Fees Paid to BTC

0-5 Year High Yield Corporate Bond	$	392,096
Broad USD High Yield Corporate Bond		697,086
ESG Advanced High Yield Corporate Bond		10,232
Fallen Angels USD Bond		330,644



iShares ETF	Purchases		Sales		Net Realized Gain (Loss)

0-5 Year High Yield Corporate Bond	$	105,233,444	$	42,524,309	$	(1,374,153	)
Broad USD High Yield Corporate Bond		663,743		102,470,321		(3,087,912	)
ESG Advanced High Yield Corporate Bond		133,956		3,012,636		(209,522	)
Fallen Angels USD Bond		1,743,385		197,982,668		(12,938,796	)



iShares ETF	In-kind Purchases		In-kind Sales

0-5 Year High Yield Corporate Bond	$	869,241,084	$	905,287,257
Broad USD High Yield Corporate Bond		849,710,694		1,677,787,670
ESG Advanced High Yield Corporate Bond		61,126,298		—
Fallen Angels USD Bond		434,108,412		1,246,304,354



iShares ETF	Non-Expiring

0-5 Year High Yield Corporate Bond	$	294,536,857
Broad USD High Yield Corporate Bond		66,244,911
Fallen Angels USD Bond		1,108,777



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

0-5 Year High Yield Corporate Bond	$	6,212,816,766	$	24,188,273	$	(276,475,843	)	$	(252,287,570	)
Broad USD High Yield Corporate Bond		8,717,723,976		33,125,545		(682,674,253	)		(649,548,708	)
ESG Advanced High Yield Corporate Bond		215,613,647		282,218		(16,369,055	)		(16,086,837	)
Fallen Angels USD Bond		4,007,807,228		2,083,594		(405,891,279	)		(403,807,685	)




	Six Months Ended 04/30/22						Year Ended 10/31/21


iShares ETF	Shares			Amount			Shares			Amount


0-5 Year High Yield Corporate Bond
Shares sold		20,100,000		$	886,101,759			46,000,000		$	2,088,517,248
Shares redeemed		(21,000,000	)		(925,665,885	)		(38,700,000	)		(1,759,441,148	)

Net increase (decrease)		(900,000	)	$	(39,564,126	)		7,300,000		$	329,076,100

Broad USD High Yield Corporate Bond
Shares sold		21,400,000		$	863,149,298			82,100,000		$	3,365,228,261
Shares redeemed		(43,350,000	)		(1,709,440,269	)		(37,950,000	)		(1,559,895,286	)

Net increase (decrease)		(21,950,000	)	$	(846,290,971	)		44,150,000		$	1,805,332,975

ESG Advanced High Yield Corporate Bond
Shares sold		1,250,000		$	62,705,896			1,200,000		$	62,700,777

Fallen Angels USD Bond
Shares sold		14,850,000		$	440,831,886			148,900,000		$	4,404,003,308
Shares redeemed		(46,000,000	)		(1,310,283,958	)		(5,000,000	)		(146,998,005	)

Net increase (decrease)		(31,150,000	)	$	(869,452,072	)		143,900,000		$	4,257,005,303