iShares U.S. ETF Trust

Copies of the annual reports transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 are attached.

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of each Fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

You may elect to receive all future reports in paper free of charge. If you hold accounts through a financial intermediary, you can follow the instructions included with this disclosure, if applicable, or contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Please note that not all financial intermediaries may offer this service. Your election to receive reports in paper will apply to all funds held with your financial intermediary.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive electronic delivery of shareholder reports and other communications by contacting your financial intermediary. Please note that not all financial intermediaries may offer this service.

The Markets in Review

Dear Shareholder,

The 12-month reporting period as of October 31, 2020 has been a time of sudden change in global financial markets, as the emergence and spread of the coronavirus (or “COVID-19”) led to a vast disruption in the global economy and financial markets. Prior to the outbreak of the virus, U.S. equities and bonds both delivered solid returns, despite fears and doubts about the economy that were ultimately laid to rest with unprecedented monetary stimulus and a sluggish yet resolute performance from the U.S. economy. But as the threat from the coronavirus became more apparent throughout February and March 2020, countries around the world took economically disruptive countermeasures. Stay-at-home orders and closures of non-essential businesses became widespread, many workers were laid off, and unemployment claims spiked, causing a global recession and a sharp fall in equity prices.

After markets hit their lowest point of the reporting period in late March 2020, a steady recovery ensued, as businesses began to re-open and governments learned to adapt to life with the virus. Equity prices continued to rise throughout the summer, fed by strong fiscal and monetary support and improving economic indicators. Many equity indices neared or surpassed all-time highs in early September 2020 before retreating amid concerns about a second wave of infections. In the United States, large-capitalization stocks advanced, outperforming small-capitalization stocks, which declined marginally during the reporting period. International equities from developed economies declined, significantly lagging emerging market stocks, which rebounded sharply.

During the market downturn, the performance of different types of fixed-income securities initially diverged due to a reduced investor appetite for risk. U.S. Treasuries benefited from the risk-off environment, and posted solid returns, as the 10-year U.S. Treasury yield (which is inversely related to bond prices) touched an all-time low. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and both investment-grade and high-yield bonds recovered to post positive returns.

The Fed took an accommodative monetary stance in late 2019 to support slowing economic growth. After the coronavirus outbreak, the Fed instituted two emergency interest rate cuts, pushing short-term interest rates close to zero. To stabilize credit markets, the Fed also implemented a new bond-buying program, as did several other central banks around the world, including the European Central Bank and the Bank of Japan.

Looking ahead, while coronavirus-related disruptions have clearly hindered worldwide economic growth, we believe that the global expansion is likely to continue as economic activity resumes. Several risks remain, however, including a potential resurgence of the coronavirus amid loosened restrictions, policy fatigue among governments already deep into deficit spending, and structural damage to the financial system from lengthy economic interruptions.

Overall, we favor a moderately positive stance toward risk, and in particular toward credit given the extraordinary central bank measures taken in recent months. This support extends beyond investment-grade corporates and into high-yield, leading to attractive opportunities in that end of the market. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments. We remain neutral on equities overall while favoring emerging market stocks and tilting toward the quality factor for its resilience.

In this environment, 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 October 31, 2020
	6-Month	12-Month
U.S. large cap equities (S&P 500^® Index)	13.29%	9.71%
U.S. small cap equities (Russell 2000^® Index)	18.13	(0.14)
International equities (MSCI Europe, Australasia, Far East Index)	8.57	(6.86)
Emerging market equities (MSCI Emerging Markets Index)	20.96	8.25
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.06	0.92
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(1.63)	8.92
U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)	1.27	6.19
Tax-exempt municipal bonds (S&P Municipal Bond Index)	4.87	3.55
U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)	10.73	3.42
Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The U.S. bond market advanced for the 12 months ended October 31, 2020 (“reporting period”). The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of U.S. fixed-income performance, returned 6.19%.

U.S. economic growth was unusually volatile during the reporting period, reflecting the sudden economic impact of the coronavirus pandemic and the subsequent recovery. Growth was negative in the first two quarters of 2020, with annualized contractions of -5.0% and -31.4%, respectively, as the U.S. officially entered recession for the first time since the 2008 financial crisis. The latter figure represented the largest quarterly economic contraction on record, as efforts to contain the virus through restrictions on travel and business led to widespread disruption of the U.S. economy.

Despite the continued presence of the coronavirus in the U.S., businesses and consumers adapted to the new conditions, and many states began to loosen restrictions on activity beginning May 2020. The U.S. economy rapidly rebalanced toward remote economic activity; working and shopping from home flourished, while traditional, in-person economic activity at malls, hotels, and restaurants remained subdued. Along with a significant series of fiscal stimulus measures, easing restrictions led to a large increase in consumer spending as many commercial activities resumed, and government payments to individuals boosted household incomes. Consequently, the economy began to show signs of recovery, growing at an annualized rate of 33.1% in the third quarter of 2020.

In response to the pandemic and subsequent economic downturn, the U.S. Federal Reserve (“Fed”) enacted two emergency decreases to short-term interest rates in March 2020, setting them near zero for only the second time in history. The Fed further acted to stabilize bond markets by implementing an unlimited, open-ended, bond buying program for U.S. Treasuries and mortgage-backed securities. The Fed later widened its program by directly purchasing corporate bonds for the first time, including high-yield bonds. In August 2020, the Fed revised its long-standing inflation policy, allowing it to exceed its 2% target in order to stimulate the economy.

The pandemic-related volatility in the U.S. economy was reflected in bond yields (which are inversely related to prices). U.S. Treasury yields declined significantly beginning late February 2020, as uncertainty drove investors toward the most highly rated segment of the bond market, driving the yields on the two-, 10-, and 30-year U.S. Treasuries to record lows. Short-term U.S. Treasury yields declined more than long-term U.S. Treasuries, as the Fed committed to keeping interest rates near zero until at least 2023. However, returns for long-term U.S. Treasuries, which are more sensitive to interest rate changes, significantly exceeded returns from short-term U.S. Treasuries.

Corporate bond prices were also significantly impacted by the economic disruption. In February and March 2020, investors became concerned that sudden changes in consumer behavior could lead to a sharp increase in bankruptcies, which drove a significant increase in corporate bond yields. Consequently, prices of corporate bonds declined sharply, particularly lower-rated, high-yield bonds, which are considered to have a greater probability of default. However, Fed actions to support the corporate bond market and signs that defaults could be lower than anticipated drove a recovery in corporate bond prices, beginning in late March 2020.

Securitized bonds also advanced, particularly commercial mortgage backed securities (“CMBS”). Despite significant disruption to the commercial property market, CMBS showed resiliency later in the reporting period, and delinquencies declined after reaching an all-time high in June 2020.

The iShares Short Maturity Bond ETF (the “Fund”) seeks to maximize current income by investing, under normal circumstances, at least 80% of its net assets in a portfolio of U.S. dollar-denominated investment-grade fixed income securities and maintain a weighted average maturity that is less than three years. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index.

The inception date of the Fund was 9/25/13. The first day of secondary market trading was 9/26/13.

The Bloomberg Barclays Short-Term Government/Corporate Index is an unmanaged index that measures the performance of government and corporate securities with less than 1 year remaining to maturity.

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 11 for more information.

Short-term investment-grade bonds posted a positive return for the reporting period. Bond purchases by the Fed to counter the economic impact of the coronavirus pandemic, including buying debt directly from companies, ultimately reduced yields on investment-grade bonds. Low interest rates and increased savings among consumers also supported demand for short-term bonds.

In terms of relative performance, the Fund outperformed the broader market, as represented by the Bloomberg Barclays Short-Term Government/Corporate Index. An increased allocation to investment-grade corporate bonds following a market decline in March 2020 contributed to the Fund’s relative return. During that decline, investment-grade credit spreads, the difference in yields between investment-grade bonds and U.S. Treasuries, widened to the highest levels since 2009. Later in the reporting period, the Fed’s corporate bond purchases and improved economic conditions significantly lowered these spreads, which raised bond prices and helped the Fund’s performance.

From a total return perspective, investment-grade corporate bonds contributed the most to the Fund’s return. Investment-grade corporate bonds benefited from substantial cash inflows from investors, as well as Fed purchases. Turning to credit quality, bonds rated Baa had the largest weight in the Index on average and contributed the most to the Fund’s return.

Among corporate bonds, bank bonds were the most significant contributors to the Fund’s performance. Substantial investor demand for short-term bonds issued by banks was partly due to investors’ assessment that banks would benefit as the economy recovered. This confidence grew out of stronger balance sheets over the last decade and limited prospects of bank credit rating downgrades. Bonds of consumer non-cyclical companies also advanced, as their yields declined relative to consumer cyclical bonds during the pandemic-related recession.

Turning to securitized bonds, asset-backed securities contributed the most to the Fund’s return. The search for yield led to continued demand for asset-backed securities despite coronavirus-related challenges. Collateralized loan obligations were also contributors, as that market became more accessible to investors during the reporting period.

The iShares Short Maturity Municipal Bond ETF (the “Fund”) seeks to maximize tax-free current income by investing, under normal circumstances, at least 80% of its net assets in municipal securities such that the interest on each bond is exempt from U.S. federal income taxes and the federal alternative minimum tax. Under normal circumstances, the effective duration of the Fund’s portfolio is expected to be 1.2 years or less, as calculated by the management team, and is not expected to exceed 1.5 years. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index.

The inception date of the Fund was 3/3/15. The first day of secondary market trading was 3/5/15.

The Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index is an unmanaged index comprised of national municipal bond issues having a maturity of at least one year and less than two years.

Short-term municipal bonds posted a modest return during the reporting period, as the Fed reduced interest rates and purchased assets to mitigate the economic repercussions of the coronavirus pandemic. Negative factors in the municipal bond market included investor concerns over tax revenues, higher spending due to the coronavirus, and lower liquidity. However, the Fed began buying short-term municipal bonds directly to stabilize the market for state and local government debt. Furthermore, the Fed created the Municipal Liquidity Facility for buying new bond issues from municipalities with sufficiently high credit ratings that also met other criteria.

In terms of relative performance, the Fund underperformed the broader market, as represented by the Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index. The Fund was positioned for a low interest rate environment, as credit and economic conditions suggested caution. However, the Fed’s support facilities and fiscal stimulus measures decreased investors’ concerns, raising municipal bond prices and lowering their yields. In this environment, the Fund’s interest rate sensitivity decisions and overweight positions in variable-rate demand notes (“VRDNs”) detracted from its performance. Furthermore, the high demand for floating-rate VRDNs in a low interest rate environment kept their interest rates down, except during March 2020. Limited issuance of new municipal bonds with short maturities also created challenges, leading to an increased focus on secondary markets. The broad-based sell-off in March 2020 led to liquidity issues that negatively impacted tax-exempt bonds, including municipal bonds, and the Fund continued to factor in the consequences of the pandemic for municipal credit.

On the upside, overweight positions in lower-rated investment-grade municipal bonds contributed to the Fund’s relative return. Nonrated bonds of issuers with solid underlying long-term credit ratings were also contributors to the Fund’s relative performance. Other contributors included municipal bonds with shorter maturity dates, tax-backed bonds, and bonds in the healthcare sector.

The iShares Ultra Short-Term Bond ETF(the “Fund”) seeks to provide current income consistent with preservation of capital by investing, under normal circumstances, at least 80% of its net assets in a portfolio of U.S. dollar-denominated investment-grade fixed- and floating-rate debt securities and maintain a dollar-weighted average maturity that is less than 180 days. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index.

The inception date of the Fund was 12/11/13. The first day of secondary market trading was 12/13/13.

The ICE BofA 6-Month US Treasury Bill Index is an unmanaged index that measures the performance of government securities with less than 6 months remaining to maturity.

Ultra-short-term bonds posted a positive return for the reporting period. The coronavirus pandemic led to higher volatility in the bond market and substantial Fed support for credit markets. However, the Fund’s focus on ultra-short-term bonds limited the direct impact from overall market volatility. In this environment, investors’ concerns over virus-related disruptions of the bond market helped to sustain somewhat higher yields on investment-grade corporate bonds.

In terms of relative performance, the Fund outperformed the broader market, as represented by the Bloomberg Barclays Short-Term Government/Corporate Index. The Fund’s overweight positions in corporate bonds contributed to its relative performance. Positions in longer-dated commercial paper and short-term certificates of deposit also benefited the Fund’s return. Furthermore, the Fund maintained a preference for slightly shorter-term and more easily tradable debt instruments due to the economic uncertainty surrounding the pandemic.

Broadly speaking, corporate bonds contributed the most to the Fund’s return. Among corporate bonds, bank bonds were the most significant contributors. Substantial investor demand for short-term bonds issued by banks was partly due to investors’ assessment that banks would benefit as the economy recovered. This confidence grew out of stronger balance sheets over the last decade and a low likelihood of imminent and widespread credit rating downgrades. Consumer cyclical bonds also contributed to the Fund’s return, as Fed bond purchases helped short-term automotive bonds.

The Fund slightly increased its positions in floating-rate notes, which continued to offer favorable yields, even after the Fed’s interest rate reductions. Floating-rate notes with yields tied to the London Interbank Offered Rate (“LIBOR”) were a strong source of income, as this global gauge of interest rates registered a brief but sharp increase in March 2020, reflecting decreased liquidity and credit concerns. Although LIBOR declined later in the reporting period, it remained above zero.

From a credit quality perspective, bonds in every rating category held by the Fund contributed to the Fund’s performance. However, bonds rated Aa were the most significant contributors.

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 the 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. The price used to calculate market return (“Market Price”) is determined by 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.

As a shareholder of your Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares and (2) ongoing costs, including management fees and other fund expenses. The expense example, which is based on an investment of $1,000 invested at the beginning of the period (or from the commencement of operations if less than 6 months) and held through the end of the period, is intended to help you understand your ongoing costs (in dollars and cents) of investing in your Fund and to compare these costs with the ongoing costs of investing in other funds.

Actual Expenses – The table provides information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. To estimate the expenses that you paid on your account over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”

Hypothetical Example for Comparison Purposes – The table also provides information about hypothetical account values and hypothetical expenses based on your Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.


Security	Par (000)		Value

Asset-Backed Securities

Adams Mill CLO Ltd., Series 2014-1A, Class A2R, 1.34%, 07/15/26 (Call 01/15/21), (3 mo. LIBOR US + 1.100%)^(a)(b)	$	3,424	$	3,417,065
Ally Auto Receivables Trust, Series 2017-4, Class A3, 1.75%, 12/15/21 (Call 03/15/21)		110		110,093
ALM VII Ltd., Series 2012-7A, Class A1A2, 1.41%, 07/15/29 (Call 01/15/21), (3 mo. LIBOR US + 1.170%)^(a)(b)		9,000		8,924,550
ALM XVII Ltd., Series 2015-17A, Class A1AR, 1.17%, 01/15/28 (Call 01/15/21), (3 mo. LIBOR US + 0.930%)^(a)(b)		21,038		20,866,163
American Express Credit Account Master Trust, Series 2018-9, Class A, 0.53%, 04/15/26, (1 mo. LIBOR US + 0.380%)^(b)		17,650		17,715,557
AmeriCredit Automobile Receivables Trust
Series 2019-1, Class A2A, 2.93%, 06/20/22 (Call 05/18/23)		1,297		1,299,213
Series 2020-1, Class A2B, 0.50%, 03/20/23 (Call 02/18/24), (1 mo. LIBOR US + 0.350%)^(b)		6,734		6,741,361
AmeriCredit Automobile Receivables Trust 2020-2, Series 2020-2, Class A2B, 0.50%, 12/18/23 (Call 02/18/24), (1 mo. LIBOR US + 0.350%)^(b)		9,750		9,765,245
Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class A, 1.27%, 01/28/31 (Call 01/28/21), (3 mo. LIBOR US + 1.050%)^(a)(b)		2,500		2,465,227
Anchorage Capital CLO 7 Ltd., Series 2015-7A, Class AR2, 1.34%, 01/28/31 (Call 04/28/21), (3 mo. LIBOR US + 1.090%)^(a)(b)		10,740		10,579,345
Anchorage Capital CLO 8 Ltd., Series 2016-8A, Class AR, 1.22%, 07/28/28 (Call 01/28/21), (3 mo. LIBOR US + 1.000%)^(a)(b)		5,609		5,576,842
Atlas Senior Loan Fund III Ltd., Series 2013-1A, Class AR, 1.11%, 11/17/27 (Call 11/17/20), (3 mo. LIBOR US + 0.830%)^(a)(b)		13,093		13,034,002
Avery Point IV CLO Ltd., Series 2014-1A, Class AR, 1.31%, 04/25/26 (Call 01/25/21), (3 mo. LIBOR US + 1.100%)^(a)(b)		817		815,865
BMW Vehicle Owner Trust
Series 2019-A, Class A2, 2.05%, 05/25/22 (Call 02/25/23)		6,714		6,737,038
Series 2020-A, Class A2, 0.39%, 02/27/23 (Call 01/25/24)		32,740		32,764,905
Carlyle Global Market Strategies CLO Ltd., Series 2013-2A, Class AR, 1.11%, 01/18/29 (Call 01/18/21), (3 mo. LIBOR US + 0.890%)^(a)(b)		4,584		4,526,439
CarMax Auto Owner Trust, Series 2020-3, Class A2B, 0.40%, 06/15/23 (Call 05/15/24), (1 mo. LIBOR US + 0.250%)^(b)		5,410		5,414,732
Catamaran CLO Ltd., Series 2015-1A, Class AR, 1.12%, 04/22/27 (Call 01/22/21), (3 mo. LIBOR US + 0.900%)^(a)(b)		1,831		1,820,828
Cedar Funding II CLO Ltd., Series 2013-1A, Class A1R, 1.47%, 06/09/30 (Call 12/09/20), (3 mo. LIBOR US + 1.230%)^(a)(b)		8,000		7,924,675


Security	Par (000)		Value

Cedar Funding VI CLO Ltd., Series 2016-6A, Class AR, 1.31%, 10/20/28 (Call 01/20/21), (3 mo. LIBOR US + 1.090%)^(a)(b)	$	20,500	$	20,342,007
Chesapeake Funding II LLC, Series 2020-1A, Class A2, 0.80%, 08/16/32, (1 mo. LIBOR US + 0.650%)^(a)(b)		12,755		12,774,624
CIFC Funding Ltd.
Series 2015-2A, Class AR2, 1.25%, 04/15/30 (Call 04/15/21), (3 mo. LIBOR US + 1.010%)^(a)(b)(c)		17,000		16,811,300
Series 2017-2A, Class A, 1.46%, 04/20/30 (Call 01/20/21), (3 mo. LIBOR US + 1.240%)^(a)(b)		6,375		6,325,051
Citibank Credit Card Issuance Trust, Series 2019-A5, Class A5, 0.77%, 04/22/26, (1 mo. LIBOR + 0.620%)^(b)		40,505		40,826,828
CNH Equipment Trust
Series 2017-B, Class A3, 1.86%, 09/15/22 (Call 08/15/21)		3,870		3,884,332
Series 2019-A, Class A2, 2.96%, 05/16/22 (Call 02/15/23)		820		821,283
Credit Acceptance Auto Loan Trust, Series 2019-1A, Class A, 3.33%, 02/15/28^(a)		6,210		6,339,458
Drive Auto Receivables Trust
Series 2019-2, Class A3, 3.04%, 03/15/23 (Call 12/15/22)		1,616		1,617,574
Series 2019-4, Class A3, 2.16%, 05/15/23 (Call 04/15/23)		8,200		8,241,569
Dryden 43 Senior Loan Fund, Series 2016-43A, Class AR, 1.36%, 07/20/29 (Call 01/20/21), (3 mo. LIBOR US + 1.140%)^(a)(b)		20,000		19,894,950
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR, 1.14%, 04/15/29 (Call 01/15/21), (3 mo. LIBOR US + 0.900%)^(a)(b)		16,350		16,153,774
Eaton Vance CLO Ltd., Series 2013-1A, Class A1RR, 1.40%, 01/15/28 (Call 01/15/21), (3 mo. LIBOR US + 1.160%)^(a)(b)		6,000		5,956,845
Ford Credit Auto Owner Trust, Series 2020-A, Class A2, 1.03%, 10/15/22 (Call 10/15/23)		4,392		4,408,485
Ford Credit Floorplan Master Owner Trust, Series 2019-1, Class A, 2.84%, 03/15/24		26,550		27,431,803
Ford Credit Floorplan Master Owner Trust A, Series 2019-3, Class A2, 0.75%, 09/15/24, (1 mo. LIBOR US + 0.600%)^(b)		59,321		59,602,152
GM Financial Consumer Automobile Receivables Trust
Series 2018-2, Class A3, 2.81%, 12/16/22 (Call 02/16/22)		2,691		2,724,607
Series 2020-1, Class A3, 1.84%, 09/16/24 (Call 03/16/23)		10,000		10,207,373
GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class AR2, 1.32%, 10/29/29 (Call 01/29/21), (3 mo. LIBOR US + 1.110%)^(a)(b)		16,680		16,577,842
Halcyon Loan Advisors Funding Ltd., Series 2015-2A, Class AR, 1.29%, 07/25/27 (Call 01/25/21),
(3 mo. LIBOR US + 1.080%)^(a)(b)		7,348		7,278,329


Security	Par (000)		Value

HPS Loan Management 10-2016 Ltd., Series 10A-16, Class A1R, 1.36%, 01/20/28 (Call 01/20/21),
(3 mo. LIBOR US + 1.140%)^(a)(b)	$	16,727	$	16,594,097
Hyundai Auto Receivables Trust, Series 2020-B, Class A2, 0.38%, 03/15/23 (Call 05/15/24)		23,925		23,938,441
John Deere Owner Trust
Series 2017-B, Class A3, 1.82%, 10/15/21 (Call 01/15/21)		17		16,839
Series 2020-B, Class A2, 0.41%, 03/15/23 (Call 02/15/24)		20,690		20,707,545
LoanCore Issuer Ltd., Series 2018-CRE1, Class A, 1.28%, 05/15/28 (Call 11/15/20), (1 mo. LIBOR US + 1.130%)^(a)(b)		8,453		8,417,214
Madison Park Funding X Ltd., Series 2012-10A, Class AR2, 1.44%, 01/20/29 (Call 01/20/21), (3 mo. LIBOR US + 1.220%)^(a)(b)		6,250		6,210,739
Madison Park Funding XIII Ltd., Series 2014-13A, Class AR2, 1.17%, 04/19/30 (Call 01/19/21), (3 mo. LIBOR US + 0.950%)^(a)(b)		4,000		3,950,432
Marathon CRE Ltd., Series 2018-FL1, Class A, 1.30%, 06/15/28 (Call 11/11/20), (1 mo. LIBOR US + 1.150%)^(a)(b)		17,285		17,203,408
Mercedes-Benz Master Owner Trust, Series 2019-AA, Class A, 0.50%, 05/15/23, (1 mo. LIBOR US + 0.350%)^(a)(b)		1,890		1,892,374
Navient Private Education Loan Trust, Series 2017-A, Class A2B, 1.05%, 12/16/58 (Call 04/15/28),
(1 mo. LIBOR US + 0.900%)^(a)(b)		1,305		1,300,733
Navient Private Education Refi Loan Trust
Series 2019-FA, Class A1, 2.18%, 08/15/68 (Call 11/15/27)^(a)		8,966		8,989,801
Series 2020-A, Class A1, 0.50%, 11/15/68 (Call 07/15/29), (1 mo. LIBOR US + 0.350%)^(a)(b)		7,620		7,610,799
Nissan Auto Receivables Owner Trust, Series 2017-B, Class A3, 1.75%, 10/15/21 (Call 08/15/21)		754		754,838
Nissan Master Owner Trust Receivables
Series 2019-A, Class A, 0.71%, 02/15/24, (1 mo. LIBOR US + 0.560%)^(b)		23,950		24,040,270
Series 2019-B, Class A, 0.58%, 11/15/23, (1 mo. LIBOR US + 0.430%)^(b)		24,000		24,050,134
NLY Commercial Mortgage Trust, Series 2019-FL2, Class A, 1.45%, 02/15/36 (Call 03/15/21), (1 mo. LIBOR US + 1.300%)^(a)(b)		5,291		5,261,214
OCP CLO Ltd., Series 2016-12A, Class A1R, 1.34%, 10/18/28 (Call 01/18/21), (3 mo. LIBOR US + 1.120%)^(a)(b)		21,095		20,988,797
OneMain Financial Issuance Trust, Series 2016-3A, Class A, 3.83%, 06/18/31 (Call 05/18/21)^(a)		1,700		1,742,222
OZLM XIV Ltd., Series 2015-14A, Class A1AR, 1.40%, 01/15/29 (Call 01/15/21), (3 mo. LIBOR US + 1.160%)^(a)(b)		10,035		9,967,933


Security	Par (000)		Value

Palmer Square Loan Funding Ltd.
Series 2018-4A, Class A1, 1.18%, 11/15/26 (Call 11/15/20), (3 mo. LIBOR US + 0.900%)^(a)(b)	$	7,689	$	7,673,775
Series 2018-5A, Class A1, 1.07%, 01/20/27 (Call 01/20/21), (3 mo. LIBOR US + 0.850%)^(a)(b)		11,563		11,461,363
PFS Financing Corp.
Series 2019-A, Class A1, 0.70%, 04/15/24, (1 mo. LIBOR US + 0.550%)^(a)(b)		40,000		39,906,676
Series 2019-B, Class A, 0.70%, 09/15/23, (1 mo. LIBOR US + 0.550%)^(a)(b)		14,650		14,667,965
Series 2020-F, Class A, 0.93%, 08/15/24^(a)		3,274		3,282,749
Regatta VI Funding Ltd., Series 2016-1A, Class AR, 1.30%, 07/20/28 (Call 01/20/21), (3 mo. LIBOR US + 1.080%)^(a)(b)		13,351		13,294,817
Santander Drive Auto Receivables Trust, Series 2020-2, Class A2B, 0.50%, 05/15/23 (Call 05/15/24), (1 mo. LIBOR US + 0.350%)^(b)		8,000		8,003,609
Santander Retail Auto Lease Trust, Series 2019-B, Class A2B, 0.51%, 04/20/22 (Call 10/20/22), (1 mo. LIBOR US + 0.360%)^(a)(b)		8,833		8,834,075
SLM Private Credit Student Loan Trust
Series 2004-A, Class A3, 0.65%, 06/15/33 (Call 12/15/21), (3 mo. LIBOR US + 0.400%)^(b)		5,563		5,475,652
Series 2004-B, Class A3, 0.58%, 03/15/24 (Call 06/15/24), (3 mo. LIBOR US + 0.330%)^(b)		9,100		9,020,865
Series 2005-A, Class A4, 0.56%, 12/15/38 (Call 09/15/27), (3 mo. LIBOR US + 0.310%)^(b)		10,342		9,909,519
Series 2005-B, Class A4, 0.58%, 06/15/39 (Call 12/15/26), (3 mo. LIBOR US + 0.330%)^(b)		7,162		6,778,837
Series 2006-A, Class A5, 0.54%, 06/15/39 (Call 06/15/28), (3 mo. LIBOR US + 0.290%)^(b)		15,569		14,834,633
Series 2006-B, Class A5, 0.52%, 12/15/39 (Call 09/15/27), (3 mo. LIBOR US + 0.270%)^(b)		11,087		10,507,193
SLM Student Loan Trust, Series 2011-2, Class A1, 0.75%, 11/25/27 (Call 02/25/32), (1 mo. LIBOR US + 0.600%)^(b)		143		142,495
SMB Private Education Loan Trust
Series 2015-A, Class A2A, 2.49%, 06/15/27 (Call 10/15/27)^(a)		3,875		3,917,895
Series 2017-A, Class A2B, 1.05%, 09/15/34, (1 mo. LIBOR US + 0.900%)^(a)(b)		19,172		19,106,462
Series 2019-A, Class A1, 0.50%, 02/16/26, (1 mo. LIBOR US + 0.350%)^(a)(b)		522		522,189
Series 2020-A, Class A1, 0.45%, 03/15/27, (1 mo. LIBOR US + 0.300%)^(a)(b)		8,139		8,129,909
SoFi Professional Loan Program LLC
Series 16-C, Class A1, 1.25%, 10/27/36 (Call 11/25/23), (1 mo. LIBOR US + 1.100%)^(a)(b)		1,167		1,173,339
Series 2015-B, Class A1, 1.20%, 04/25/35 (Call 01/25/21), (1 mo. LIBOR US + 1.050%)^(a)(b)		1,005		1,005,582


Security	Par (000)		Value

Symphony CLO XVIII Ltd., Series 2016-18A, Class AR, 1.36%, 01/23/28 (Call 01/23/21), (3 mo. LIBOR US + 1.150%)^(a)(b)	$	2,400	$	2,386,526
TCI-Symphony CLO Ltd., Series 2016-1A, Class AR, 1.43%, 10/13/29 (Call 01/13/21), (3 mo. LIBOR US + 1.160%)^(a)(b)		5,235		5,204,019
Tesla Auto Lease Trust, Series 2020-A, Class A, 0.55%, 05/22/23 (Call 04/20/23)^(a)		8,100		8,116,062
TICP CLO I Ltd., Series 2015-1A, Class AR, 1.02%, 07/20/27 (Call 01/20/21), (3 mo. LIBOR US + 0.800%)^(a)(b)		2,996		2,982,220
TICP CLO VI Ltd., Series 2016-6A, Class AR, 1.44%, 01/15/29 (Call 01/15/21), (3 mo. LIBOR US + 1.200%)^(a)(b)		6,380		6,344,195
Verizon Owner Trust, Series 2020-A, Class A1B, 0.42%, 07/22/24 (Call 03/20/23), (1 mo. LIBOR US + 0.270%)^(b)		9,290		9,286,804
Volvo Financial Equipment LLC, Series 2019-1A, Class A2, 2.90%, 11/15/21 (Call 10/15/22)^(a)		2,048		2,051,972
VOYA CLO, Series 2017-2A, Class A1, 1.45%, 06/07/30 (Call 01/15/21), (3 mo. LIBOR US + 1.210%)^(a)(b)		5,330		5,300,672
Westlake Automobile Receivables Trust, Series 2019-3A, Class A2, 2.15%, 02/15/23 (Call 03/15/23)^(a)		10,025		10,093,074


Total Asset-Backed Securities — 20.5% (Cost: $902,688,713)				901,772,304


Certificates of Deposit

Barclays Bank PLC, 0.69%, 07/30/21, (3 mo. LIBOR US + 0.480%)^(b)		20,000		20,011,873
Mizuho Bank Ltd./New York NY, 0.72%, 01/25/21, (3 mo. LIBOR US + 0.500%)^(b)		15,000		15,016,244
Standard Chartered Bank/New York, 0.40%, 08/24/21, (3 mo. LIBOR US + 0.150%)^(b)		14,250		14,255,749
Sumitomo Mitsui Banking Corp./New York, 0.70%, 07/15/22		30,000		30,019,863


Total Certificates of Deposit — 1.8% (Cost: $79,248,291)				79,303,729


Collaterized Mortgage Obligations

Mortgage-Backed Securities — 7.9%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, 1.03%, 09/15/34, (1 mo. LIBOR US + 0.880%)^(a)(b)		12,100		12,092,489
AOA Mortgage Trust, Series 2015-1177, Class A, 2.96%, 12/13/29 (Call 11/13/20)^(a)		11,835		11,946,756
AREIT Trust, Series 2019-CRE3, Class A, 1.17%, 09/14/36, (1 mo. LIBOR US + 1.020%)^(a)(b)		30,000		29,596,677
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class A, 1.00%, 09/15/34, (1 mo. LIBOR US + 0.850%)^(a)(b)		19,220		18,643,262
Bancorp Commercial Mortgage Trust
Series 2018-CRE4, Class A, 1.05%, 09/15/35, (1 mo. LIBOR US + 0.900%)^(a)(b)		1,423		1,408,708
Series 2019-CRE5, Class A, 1.15%, 03/15/36, (1 mo. LIBOR US + 1.000%)^(a)(b)		4,705		4,581,706


Security	Par (000)		Value

Mortgage-Backed Securities (continued)
BBCMS Mortgage Trust, Series 2019-BWAY, Class A, 1.10%, 11/15/34, (1 mo. LIBOR US + 0.956%)^(a)(b)	$	11,305	$	11,000,183
BBCMS Trust
Series 2018-TYSN, Class A2, 3.76%, 09/05/32^(a)		13,428		13,383,218
Series 2019-CLP, Class A, 0.83%, 12/15/31, (1 mo. LIBOR US + 0.685%)^(a)(b)		9,727		9,654,924
BX Commercial Mortgage Trust
Series 2018-BIOA, Class A, 0.82%, 03/15/37, (1 mo. LIBOR US + 0.671%)^(a)(b)		23,190		23,163,011
Series 2018-IND, Class A, 0.90%, 11/15/35, (1 mo. LIBOR US + 0.750%)^(a)(b)		19,722		19,635,624
BX Trust, Series 2019-CALM, Class A, 1.02%, 11/15/32, (1 mo. LIBOR US + 0.876%)^(a)(b)		6,798		6,756,207
CGDBB Commercial Mortgage Trust, Series 2017-BIOC, Class A, 0.94%, 07/15/32, (1 mo. LIBOR US + 0.790%)^(a)(b)		12,150		12,146,958
Chase Home Lending Mortgage Trust, Series 2019-ATR2, Class A11, 1.05%, 07/25/49 (Call 12/25/23), (1 mo. LIBOR US + 0.900%)^(a)(b)		4,052		4,044,353
COMM Mortgage Trust, Series 2014-CR15, Class A2, 2.93%, 02/10/47 (Call 11/10/23)		3,772		3,768,566
Commission, Series 2013- GAM, Class A2, 3.37%, 02/10/28 (Call 02/10/21)^(a)		7,695		7,297,752
Commission Mortgage Trust, Series 2013-CR6, Class A3FL, 0.78%, 03/10/46, (1 mo. LIBOR US + 0.630%)^(a)(b)		788		787,883
Gosforth Funding PLC, Series 2018-1A, Class A1, 0.70%, 08/25/60 (Call 08/25/23), (3 mo. LIBOR US + 0.450%)^(a)(b)		5,102		5,100,908
GPMT Ltd., Series 2018-FL1, Class A, 1.04%, 11/21/35, (1 mo. LIBOR US + 0.900%)^(a)(b)		1,500		1,493,696
GS Mortgage Securities Corp. Trust, Series 2019-SOHO, Class A, 1.05%, 06/15/36, (1 mo. LIBOR US + 0.900%)^(a)(b)		19,046		18,881,890
JP Morgan Chase Commercial Mortgage Securities Trust, Series 2019-BKWD, Class A, 1.15%, 09/15/29, (1 mo. LIBOR US + 1.000%)^(a)(b)		1,911		1,874,087
KNDL Mortgage Trust, Series 2019-KNSQ, Class A, 0.95%, 05/15/36, (1 mo. LIBOR US + 0.800%)^(a)(b)		8,533		8,484,996
Morgan Stanley Capital I Trust
Series 2014-CPT, Class A, 3.35%, 07/13/29 (Call 07/13/21)^(a)		14,480		14,651,492
Series 2017-CLS, Class A, 0.85%, 11/15/34, (1 mo. LIBOR US + 0.700%)^(a)(b)		14,512		14,476,364
Series 2018-BOP, Class A, 1.00%, 08/15/33, (1 mo. LIBOR US + 0.850%)^(a)(b)		6,609		6,380,854
Series 2018-SUN, Class A, 1.30%, 07/15/35, (1 mo. LIBOR US + 0.900%)^(a)(b)		19,045		18,450,074
Natixis Commercial Mortgage Securities Trust,
Series 2018-RIVA, Class A, 0.90%, 02/15/33, (1 mo. LIBOR US + 0.750%)^(a)(b)		7,650		7,235,631
Rosslyn Portfolio Trust, Series 2017-ROSS, Class A, 1.94%, 06/15/33, (1 mo. LIBOR US + 0.950%)^(a)(b)		2,892		2,883,154


Security	Par (000)		Value

Mortgage-Backed Securities (continued)
VNDO Mortgage Trust, Series 2013-PENN, Class A, 3.81%, 12/13/29 (Call 12/13/20)^(a)	$	10,200	$	10,193,354
Wells Fargo Commercial Mortgage Trust, Series 2017-SMP, Class A, 0.90%, 12/15/34, (1 mo. LIBOR US + 0.750%)^(a)(b)		17,280		16,806,554
WFRBS Commercial Mortgage Trust
Series 2012-C6, Class AS, 3.84%, 04/15/45 (Call 02/15/22)		12,986		13,286,996
Series 2012-C8, Class AFL, 1.15%, 08/15/45, (1 mo. LIBOR US + 1.000%)^(a)(b)		18,999		18,983,362


Total Collaterized Mortgage Obligations — 7.9% (Cost: $353,027,263)				349,091,689


Commercial Paper

AstraZeneca PLC, 0.09%, 11/03/20^(d)		31,000		30,999,690
Boeing Co. (The), 0.79%, 11/18/20^(d)		42,000		41,982,422
Intercontinental Exchange Inc., 0.58%, 09/23/21^(d)		9,725		9,674,041


Total Commercial Paper — 1.9% (Cost: $82,639,198)				82,656,153


Corporate Bonds & Notes

Aerospace & Defense — 0.4%
Boeing Co. (The), 2.13%, 03/01/22 (Call 02/01/22)		10,000		10,080,828
General Dynamics Corp., 3.00%, 05/11/21		7,939		8,049,858

				18,130,686

Agriculture — 1.7%
Altria Group Inc. 2.85%, 08/09/22^(e)		22,918		23,858,395
4.75%, 05/05/21		38,929		39,819,246
BAT Capital Corp., 1.16%, 08/15/22 (Call 07/15/22), (3 mo. LIBOR US + 0.880%)^(b)		10,000		10,051,900

				73,729,541

Auto Manufacturers — 6.3%
American Honda Finance Corp. 1.95%, 05/20/22^(e)		15,773		16,156,304
2.20%, 06/27/22^(e)		6,136		6,316,440
BMW Finance NV, 2.25%, 08/12/22^(a)(e)		16,350		16,832,540
BMW U.S. Capital LLC, 3.80%, 04/06/23^(a)		10,000		10,746,294
Daimler Finance North America LLC
0.69%, 02/12/21, (3 mo. LIBOR US + 0.430%)^(a)(b)		5,000		5,002,275
2.00%, 07/06/21^(a)		10,524		10,625,569
2.20%, 10/30/21^(a)(e)		20,000		20,330,107
2.55%, 08/15/22^(a)(e)		10,000		10,297,484
Ford Motor Credit Co. LLC 3.34%, 03/28/22 (Call 02/28/22)^(e)		10,000		9,975,000
5.88%, 08/02/21^(e)		15,000		15,318,000
General Motors Financial Co. Inc.
1.53%, 06/30/22, (3 mo. LIBOR US + 1.310%)^(b)		5,545		5,551,477
3.20%, 07/06/21 (Call 06/06/21)		11,895		12,055,250
3.45%, 04/10/22 (Call 02/10/22)		20,000		20,583,842
3.55%, 04/09/21^(e)		10,000		10,114,379
4.20%, 03/01/21 (Call 02/01/21)^(e)		10,000		10,074,800
4.20%, 11/06/21		40,000		41,212,581


Security	Par (000)		Value

Auto Manufacturers (continued)
Volkswagen Group of America Finance LLC 2.70%, 09/26/22^(a)	$	2,145	$	2,222,466
2.90%, 05/13/22^(a)(e)		50,500		52,140,919

				275,555,727

Banks — 24.3%
Australia & New Zealand Banking Group Ltd. 0.82%, 11/09/22,
(3 mo. LIBOR US + 0.580%)^(a)(b)		2,000		2,014,940
4.88%, 01/12/21^(a)		13,000		13,112,860
Australia & New Zealand Banking Group Ltd./New York NY, 2.70%, 11/16/20		15,000		15,012,900
Banco Santander SA, 1.34%, 04/12/23, (3 mo. LIBOR US + 1.120%)^(b)		10,000		10,051,411
Bank of America Corp. 0.88%, 06/25/22 (Call 06/25/21),
(3 mo. LIBOR US + 0.650%)^(b)		10,000		10,033,905
1.21%, 04/24/23 (Call 04/24/22),
(3 mo. LIBOR US + 1.000%)^(b)		12,500		12,622,768
1.38%, 01/20/23 (Call 01/20/22),
(3 mo. LIBOR US + 1.160%)^(b)		25,000		25,273,097
Bank of Montreal, 1.04%, 08/27/21,
(3 mo. LIBOR US + 0.790%)^(b)		7,000		7,044,955
Bank of Nova Scotia (The), 0.85%, 09/19/22,
(3 mo. LIBOR US + 0.620%)^(b)		10,000		10,080,780
Banque Federative du Credit Mutuel SA, 2.13%, 11/21/22^(a)(e)		20,000		20,648,182
Barclays Bank PLC, 1.70%, 05/12/22 (Call 04/12/22)^(e)		15,000		15,281,561
Barclays PLC, 1.71%, 02/15/23 (Call 02/15/22), (3 mo. LIBOR US + 1.430%)^(b)		20,000		20,099,342
BPCE SA, 3.00%, 05/22/22^(a)(e)		17,993		18,630,595
Citibank N.A., 3.17%, 02/19/22 (Call 02/19/21), (3 mo. LIBOR US + 0.530%)^(b)(e)		15,000		15,124,593
Citigroup Inc.
0.91%, 10/27/22 (Call 09/27/22), (3 mo. LIBOR US + 0.690%)^(b)		10,000		10,060,088
2.70%, 10/27/22 (Call 09/27/22)^(e)		25,000		26,070,175
2.90%, 12/08/21 (Call 11/08/21)^(e)		18,350		18,817,884
Citizens Bank N.A./Providence RI, 0.98%, 02/14/22 (Call 11/14/21),
(3 mo. LIBOR US + 0.720%)^(b)(e)		30,000		30,139,260
Commonwealth Bank of Australia/New York NY, 2.40%, 11/02/20		20,000		20,000,000
Cooperatieve Rabobank UA, 1.09%, 09/26/23, (3 mo. LIBOR US + 0.860%)^(a)(b)		10,000		10,123,811
Credit Suisse AG/New York NY 2.10%, 11/12/21		15,000		15,263,907
2.80%, 04/08/22^(e)		5,000		5,174,654
3.00%, 10/29/21		35,450		36,400,493
Credit Suisse Group AG, 3.57%, 01/09/23 (Call 01/09/22)^(a)(e)		10,000		10,330,620
Credit Suisse Group Funding Guernsey Ltd., 3.13%, 12/10/20		5,870		5,886,201
Danske Bank A/S, 2.70%, 03/02/22^(a)(e)		15,000		15,435,335
Deutsche Bank AG/New York NY 1.03%, 01/22/21,
(3 mo. LIBOR US + 0.815%)^(b)		5,000		4,999,889
4.25%, 02/04/21		9,905		9,983,853


Security	Par (000)		Value

Banks (continued)
Goldman Sachs Group Inc. (The) 0.99%, 10/31/22 (Call 10/31/21),
(3 mo. LIBOR US + 0.780%)^(b)	$	4,000	$	4,015,939
1.21%, 07/24/23 (Call 07/24/22),
(3 mo. LIBOR US + 1.000%)^(b)		5,000		5,042,157
1.32%, 04/26/22 (Call 04/26/21),
(3 mo. LIBOR US + 1.110%)^(b)		10,000		10,037,900
1.57%, 04/23/21 (Call 03/23/21),
(3 mo. LIBOR US + 1.360%)^(b)		7,000		7,034,572
1.86%, 11/29/23,
(3 mo. LIBOR US + 1.600%)^(b)		15,000		15,442,311
2.02%, 02/25/21,
(3 mo. LIBOR US + 1.770%)^(b)		10,000		10,052,575
2.88%, 02/25/21 (Call 01/25/21)		25,000		25,147,912
5.25%, 07/27/21^(e)		20,000		20,718,059
HSBC Holdings PLC, 4.00%, 03/30/22		8,870		9,317,178
Huntington National Bank (The), 2.50%, 08/07/22 (Call 07/07/22)		15,430		15,988,517
ING Groep NV, 1.37%, 03/29/22,
(3 mo. LIBOR US + 1.150%)^(b)		3,500		3,535,805
JPMorgan Chase & Co. 1.11%, 04/25/23 (Call 04/25/22),
(3 mo. LIBOR US + 0.900%)^(b)		10,000		10,078,690
2.78%, 04/25/23 (Call 04/25/22)^(b)		10,000		10,344,301
Lloyds Bank PLC, 6.38%, 01/21/21^(e)		9,000		9,117,267
Mitsubishi UFJ Financial Group Inc. 0.86%, 07/26/21,
(3 mo. LIBOR US + 0.650%)^(b)		10,000		10,041,035
1.00%, 07/25/22,
(3 mo. LIBOR US + 0.790%)^(b)		4,000		4,033,562
2.62%, 07/18/22		5,000		5,183,793
3.00%, 02/22/22^(e)		5,000		5,164,613
Mizuho Financial Group Inc. 1.04%, 03/05/23,
(3 mo. LIBOR US + 0.790%)^(b)		3,000		3,017,985
1.10%, 09/13/23 (Call 09/13/22),
(3 mo. LIBOR US + 0.850%)^(b)		25,000		25,137,120
1.39%, 09/13/21,
(3 mo. LIBOR US + 1.140%)^(b)(e)		20,000		20,176,434
Morgan Stanley 1.40%, 01/20/22 (Call 01/20/21),
(3 mo. LIBOR US + 1.180%)^(b)		15,000		15,032,160
1.61%, 10/24/23 (Call 10/24/22),
(3 mo. LIBOR US + 1.400%)^(b)		25,000		25,434,962
2.63%, 11/17/21		30,000		30,712,339
MUFG Americas Holdings Corp., 3.50%, 06/18/22^(e)		2,885		3,027,894
Natwest Group PLC, 1.75%, 05/15/23 (Call 05/15/22), (3 mo. LIBOR US + 1.470%)^(b)		9,895		9,959,813
Santander Holdings USA Inc., 4.45%, 12/03/21 (Call 11/03/21)^(e)		5,000		5,193,716
Santander UK Group Holdings PLC 2.88%, 08/05/21		17,619		17,934,450
3.13%, 01/08/21		10,000		10,047,369
Skandinaviska Enskilda Banken AB 0.71%, 05/17/21,
(3 mo. LIBOR US + 0.430%)^(a)(b)		10,000		10,021,314
0.89%, 12/12/22,
(3 mo. LIBOR US + 0.645%)^(a)(b)		15,000		15,137,334
2.63%, 11/17/20^(a)(e)		20,000		20,018,712


Security	Par (000)		Value

Banks (continued)
2.63%, 03/15/21	$	9,900	$	9,988,163
Standard Chartered PLC 2.74%, 09/10/22 (Call 09/10/21)^(a)(b)		18,100		18,373,767
3.05%, 01/15/21^(a)(e)		20,000		20,095,376
Sumitomo Mitsui Financial Group Inc., 1.03%, 10/16/23, (3 mo. LIBOR US + 0.800%)^(b)(e)		4,000		4,022,939
Suncorp-Metway Ltd., 2.38%, 11/09/20^(a)(e)		17,500		17,506,156
Svenska Handelsbanken AB 0.73%, 05/24/21,
(3 mo. LIBOR US + 0.470%)^(b)		12,500		12,532,797
2.45%, 03/30/21^(e)		14,674		14,805,686
UBS AG/London 0.73%, 12/01/20 (Call 11/02/20),
(3 mo. LIBOR US + 0.480%)^(a)(b)		5,000		5,000,450
1.75%, 04/21/22 (Call 03/21/22)^(a)		12,680		12,907,515
UBS Group AG 1.48%, 05/23/23 (Call 05/23/22),
(3 mo. LIBOR US + 1.220%)^(a)(b)		20,000		20,211,500
3.49%, 05/23/23 (Call 05/23/22)^(a)(e)		20,000		20,841,077
Wells Fargo & Co. 1.44%, 10/31/23 (Call 10/31/22),
(3 mo. LIBOR US + 1.230%)^(b)		15,000		15,203,178
1.59%, 03/04/21,
(3 mo. LIBOR US + 1.340%)^(b)		30,000		30,134,064
2.55%, 12/07/20		15,000		15,033,600
2.63%, 07/22/22		15,000		15,536,520
Wells Fargo Bank N.A., 0.73%, 10/22/21 (Call 09/21/21), (3 mo. LIBOR US + 0.510%)^(b)		30,000		30,119,776

				1,067,178,411

Beverages — 0.6%
Keurig Dr Pepper Inc., 3.55%, 05/25/21^(e)		25,000		25,447,591


Biotechnology — 0.2%
Gilead Sciences Inc., 4.50%, 04/01/21 (Call 01/01/21)^(e)		8,000		8,055,342


Chemicals — 2.4%
DuPont de Nemours Inc.
0.99%, 11/15/20, (3 mo. LIBOR US + 0.710%)^(b)		47,500		47,510,994
2.17%, 05/01/23		5,535		5,587,582
3.77%, 11/15/20		19,000		19,021,470
LYB International Finance III LLC, 1.23%, 10/01/23 (Call 10/01/21), (3 mo. LIBOR US + 1.000%)^(b)		26,900		26,915,844
Nutrition & Biosciences Inc., 0.70%, 09/15/22^(a)(e)		6,100		6,116,875
Sherwin-Williams Co. (The), 2.75%, 06/01/22 (Call 05/01/22)^(e)		1,254		1,294,855

				106,447,620

Computers — 1.4%
Dell International LLC/EMC Corp., 5.45%, 06/15/23 (Call 04/15/23)^(a)		25,000		27,508,423
Hewlett Packard Enterprise Co., 0.95%, 10/05/21 (Call 11/16/20), (3 mo. LIBOR US + 0.720%)^(b)		20,000		20,002,620
International Business Machines Corp., 2.85%, 05/13/22^(e)		15,000		15,572,691

				63,083,734

Diversified Financial Services — 4.8%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 4.50%, 05/15/21		12,000		12,213,579


Security	Par (000)		Value

Diversified Financial Services (continued)
5.00%, 10/01/21	$	18,975	$	19,525,793
Ally Financial Inc., 4.13%, 02/13/22		25,585		26,655,546
American Express Co. 0.85%, 11/05/21 (Call 10/05/21), (3 mo. LIBOR US + 0.600%)^(b)		10,000		10,046,700
0.90%, 02/27/23 (Call 01/27/23), (3 mo. LIBOR US + 0.650%)^(b)		4,000		4,028,045
3.40%, 02/27/23 (Call 01/27/23)		15,000		15,968,669
Capital One Bank USA N.A., 2.01%, 01/27/23 (Call 01/27/22)^(b)		10,000		10,167,927
Capital One Financial Corp. 1.19%, 03/09/22 (Call 02/09/22), (3 mo. LIBOR US + 0.950%)^(b)		24,635		24,849,113
3.45%, 04/30/21 (Call 03/30/21)^(e)		10,000		10,128,736
GE Capital International Funding Co. Unlimited Co., 2.34%, 11/15/20		53,250		53,285,145
International Lease Finance Corp., 5.88%, 08/15/22^(e)		22,625		24,142,292

				211,011,545

Electric — 1.2%
Dominion Energy Inc., Series D, 0.78%, 09/15/23 (Call 09/15/21), (3 mo. LIBOR US + 0.530%)^(b)		11,575		11,604,063
NextEra Energy Capital Holdings Inc. 2.40%, 09/01/21		14,400		14,646,937
2.90%, 04/01/22^(e)		13,665		14,133,236
3.30%, 08/15/22^(e)		12,025		12,610,286

				52,994,522

Electronics — 0.2%
Roper Technologies Inc., 3.00%, 12/15/20 (Call 11/15/20)		8,500		8,499,150


Environmental Control — 0.2%
Republic Services Inc., 3.55%, 06/01/22 (Call 03/01/22)^(e)		5,895		6,134,409


Food — 1.5%
Campbell Soup Co., 0.88%, 03/15/21, (3 mo. LIBOR US + 0.630%)^(b)		15,000		15,023,768
General Mills Inc. 0.77%, 04/16/21, (3 mo. LIBOR US + 0.540%)^(b)		26,636		26,679,426
2.60%, 10/12/22 (Call 09/12/22)		9,135		9,499,451
Nestle Holdings Inc., 3.10%, 09/24/21 (Call 08/24/21)^(a)(e)		7,000		7,158,374
Tyson Foods Inc., 4.50%, 06/15/22 (Call 03/15/22)		7,930		8,363,845

				66,724,864

Health Care - Services — 1.1%
Anthem Inc. 2.50%, 11/21/20		25,000		25,027,424
3.13%, 05/15/22		19,425		20,221,814
Roche Holdings Inc., 1.75%, 01/28/22 (Call 12/28/21)^(a)		4,600		4,673,122

				49,922,360

Insurance — 0.7%
Allstate Corp. (The), 0.65%, 03/29/21, (3 mo. LIBOR US + 0.430%)^(b)		5,710		5,719,142
American International Group Inc., 3.30%, 03/01/21 (Call 02/01/21)		10,000		10,073,727


Security	Par (000)		Value

Insurance (continued)
Marsh & McLennan Companies Inc., 1.42%, 12/29/21 (Call 11/30/20), (3 mo. LIBOR US + 1.200%)^(b)	$	13,380	$	13,391,741

				29,184,610

Lodging — 1.0%
Marriott International Inc./MD
Series N, 3.13%, 10/15/21 (Call 07/15/21)		35,000		35,483,458
Series Y, 0.85%, 12/01/20, (3 mo. LIBOR US + 0.600%)^(b)		10,000		9,994,161

				45,477,619

Machinery — 0.7%
Caterpillar Financial Services Corp. 0.79%, 05/15/23,
(3 mo. LIBOR US + 0.510%)^(b)(e)		10,000		10,077,324
3.15%, 09/07/21		7,536		7,715,872
Caterpillar Inc., 3.90%, 05/27/21^(e)		5,678		5,796,082
John Deere Capital Corp., 0.65%, 06/07/21, (3 mo. LIBOR US + 0.400%)^(b)		6,480		6,494,243

				30,083,521

Manufacturing — 0.2%
General Electric Co., 3.15%, 09/07/22		10,000		10,429,757


Media — 1.6%
Charter Communications Operating LLC/Charter Communications Operating Capital, 4.46%, 07/23/22 (Call 05/23/22)		65,355		69,255,535


Oil & Gas — 1.5%
Marathon Petroleum Corp., 3.40%, 12/15/20 (Call 11/15/20)		16,543		16,557,485
Newfield Exploration Co., 5.75%, 01/30/22		28,049		28,245,472
Ovintiv Inc., 3.90%, 11/15/21 (Call 08/15/21)		12,358		12,386,096
Shell International Finance BV, 2.25%, 11/10/20^(e)		8,139		8,142,028

				65,331,081

Oil & Gas Services — 0.2%
Halliburton Co., 3.25%, 11/15/21 (Call 08/15/21)		10,000		10,196,912


Pharmaceuticals — 6.6%
AbbVie Inc. 0.60%, 05/21/21,
(3 mo. LIBOR US + 0.350%)^(a)(b)		20,000		20,019,501
2.15%, 11/19/21^(a)(e)		25,000		25,449,394
3.45%, 03/15/22 (Call 01/15/22)^(a)		35,000		36,234,438
4.88%, 02/15/21 (Call 11/17/20)^(a)		8,945		8,960,522
Bayer U.S. Finance LLC, 3.00%, 10/08/21^(a)(e)		45,000		46,036,668
Bristol-Myers Squibb Co., 2.60%, 05/16/22		20,000		20,690,859
CVS Health Corp. 2.75%, 12/01/22 (Call 09/01/22)		15,000		15,617,277
3.35%, 03/09/21^(e)		20,000		20,207,800
3.50%, 07/20/22 (Call 05/20/22)		34,190		35,787,182
3.70%, 03/09/23 (Call 02/09/23)^(e)		10,780		11,539,379
Evernorth Health Inc., 2.60%, 11/30/20		8,200		8,213,822
Shire Acquisitions Investments Ireland DAC, 2.40%, 09/23/21 (Call 08/23/21)^(e)		18,638		18,938,454
Takeda Pharmaceutical Co. Ltd. 2.45%, 01/18/22 (Call 12/17/21)^(a)		10,000		10,211,046
4.00%, 11/26/21 (Call 10/26/21)		12,435		12,863,869

				290,770,211


Security	Par (000)		Value

Pipelines — 1.8%
Kinder Morgan Energy Partners LP, 5.00%, 10/01/21 (Call 07/01/21)	$	6,552	$	6,740,774
Kinder Morgan Inc./DE, 5.00%, 02/15/21 (Call 01/15/21)^(a)		12,000		12,104,111
Plains All American Pipeline LP/PAA Finance Corp., 5.00%, 02/01/21 (Call 11/03/20)		16,130		16,130,000
Williams Companies Inc. (The), 3.60%, 03/15/22 (Call 01/15/22)		44,174		45,671,005

				80,645,890

Semiconductors — 2.1%
Broadcom Corp./Broadcom Cayman Finance Ltd. 2.20%, 01/15/21^(e)		35,000		35,113,029
2.65%, 01/15/23 (Call 12/15/22)^(e)		24,660		25,645,787
Broadcom Inc., 3.13%, 04/15/21^(e)		30,800		31,083,507

				91,842,323

Software — 0.3%
Oracle Corp., 1.90%, 09/15/21 (Call 08/15/21)^(e)		12,637		12,795,663


Telecommunications — 0.5%
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 3.36%, 03/20/23^(a)		2,326		2,347,290
Vodafone Group PLC, 1.22%, 01/16/24,
(3 mo. LIBOR US + 0.990%)^(b)		20,000		20,202,059

				22,549,349

Transportation — 0.3%
Ryder System Inc., 2.80%, 03/01/22 (Call 02/01/22)		5,000		5,139,486
Union Pacific Corp., 3.20%, 06/08/21		7,210		7,330,739

				12,470,225

Trucking & Leasing — 0.1%
Penske Truck Leasing Co. LP/PTL Finance Corp., 4.88%, 07/11/22^(a)(e)		4,901		5,249,776


Total Corporate Bonds & Notes — 63.9% (Cost: $2,790,707,331)				2,809,197,974


Security	Par/ Shares (000)		Value

Foreign Government Obligations

Japan — 2.0%
Japan Treasury Discount Bill 0.00% 12/21/20^(f)		JPY 9,200,000	$	88,016,002


Total Foreign Government Obligations — 2.0% (Cost: $87,396,796)				88,016,002


Money Market Funds
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(g)(h)(i)		27,218		27,236,958
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(g)(h)		66,830		66,830,000


Total Money Market Funds — 2.1% (Cost: $94,055,663)				94,066,958


Total Investments in Securities — 100.1% (Cost: $4,389,763,255)				4,404,104,809

Other Assets, Less Liabilities — (0.1)%				(6,355,306	)


Net Assets — 100.0%			$	4,397,749,503

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

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

^(d)	Rates are discount rates or a range of discount rates at the time of purchase.

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

^(f)	Zero-coupon bond.

^(g)	Affiliate of the Fund.

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

⁽ⁱ⁾	All or a portion of this security was purchased with cash collateral received from loaned securities.

Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

As of October 31, 2020, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2020, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

The following tables present the Fund’s derivative assets and liabilities by counterparty net of amounts available for offset under an MNA and net of the related collateral received and pledged by the Fund:

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of October 31, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.


Security	Par (000)		Value

Municipal Debt Obligations

Alabama — 3.2%
Black Belt Energy Gas District RB 4.00%, 06/01/21	$	835	$	850,130
4.00%, 07/01/46 (Put 06/01/21)^(a)		2,400		2,442,192
4.00%, 08/01/47 (Put 07/01/22)^(a)		4,000		4,214,840
Lower Alabama Gas District (The) RB, 4.00%, 12/01/21		200		206,714
Southeast Alabama Gas Supply District (The) RB, 4.00%, 06/01/22		1,500		1,573,680

				9,287,556

Alaska — 0.3%
Alaska Municipal Bond Bank Authority RB 5.00%, 12/01/20		425		426,449
5.00%, 12/01/21		400		418,796

				845,245

Arizona — 0.2%
Glendale Union High School District No. 205 GO, 5.00%, 07/01/21		500		515,335


California — 2.5%
California County Tobacco Securitization Agency RB 3.00%, 06/01/21		500		507,580
3.00%, 06/01/21		300		304,665
4.00%, 06/01/22		545		575,466
Metropolitan Water District of Southern California RB, 0.37%, 07/01/47 (Put 06/21/21)^(b)		6,000		5,997,192

				7,384,903

Colorado — 0.1%
City & County of Denver Co. Airport System Revenue RB,
Series A, 5.00%, 11/15/23		250		284,090


Connecticut — 2.8%
State of Connecticut GO 3.00%, 06/01/21		920		934,278
3.00%, 06/01/22		900		937,656
5.00%, 06/01/21		670		688,124
5.00%, 07/15/22		900		970,983
Series C, VRDN, 0.21%, 05/15/34 (Put 11/06/20)^(a)		2,120		2,120,000
State of Connecticut Special Tax Revenue RB, Series A, 5.00%, 09/01/21		2,000		2,077,420
State of Connecticut Special Tax Revenue ST 4.00%, 05/01/21		165		168,013
5.00%, 05/01/22		200		213,886

				8,110,360

District of Columbia — 2.9%
District of Columbia RB, 0.17%, 04/01/38 (Put 11/06/20)^(a)		2,800		2,800,000
Tender Option Bond Trust Receipts/Certificates RB, 0.17%, 10/01/53 (Put 11/06/20)^(a)(c)		5,545		5,545,000

				8,345,000

Florida — 1.6%
Alachua County Health Facilities Authority RB 5.00%, 12/01/20		645		647,263
5.00%, 12/01/21		390		408,864
County of Osceola FL Transportation Revenue RB, 5.00%, 10/01/21		300		309,324
County of Palm Beach FL RB, 0.12%, 07/01/32
(Put 11/06/20)^(a)		2,800		2,800,000


Security	Par (000)		Value

Florida (continued)
Tender Option Bond Trust Receipts/Certificates RB, 0.16%, 07/01/49 (Put 11/06/20)^(a)(c)	$	500	$	500,000

				4,665,451

Georgia — 9.7%
Atlanta Urban Residential Finance Authority RB, 1.36%, 12/01/22 (Put 12/01/21)^(a)		2,000		2,018,580
Bartow County Development Authority RB, 1.55%, 08/01/43 (Put 08/19/22)^(a)		2,000		2,025,680
Burke County Development Authority RB, 2.25%, 10/01/32 (Put 05/25/23)^(a)		2,000		2,070,840
Main Street Natural Gas Inc. RB 0.93%, 08/01/48 (Put 12/01/23)^(b)		5,000		4,985,090
VRDN, 4.00%, 04/01/48 (Put 09/01/23)^(a)		5,685		6,196,536
5.00%, 05/15/21		1,000		1,019,840
5.00%, 09/01/21		300		309,201
Monroe County Development Authority RB, 0.16%, 06/01/49 (Put 10/30/20)^(a)		3,700		3,700,000
Municipal Electric Authority of Georgia RB
VRDN, 0.11%, 01/01/48 (Put 11/06/20)^(a)		1,000		1,000,000
5.00%, 01/01/22		3,000		3,151,050
Tender Option Bond Trust Receipts/Certificates RB, 0.17%, 01/01/44 (Put 11/06/20) (AGM)^(a)(c)		1,700		1,700,000

				28,176,817

Illinois — 2.4%
Illinois Development Finance Authority RB
VRDN, 0.13%, 02/01/33 (Put 11/06/20)^(a)		2,000		2,000,000
VRDN, 0.14%, 06/01/29 (Put 11/06/20)^(a)		1,100		1,100,000
Tender Option Bond Trust Receipts/Certificates GO, 0.18%, 03/01/33 (Put 11/06/20)^(a)(c)		4,000		4,000,000

				7,100,000

Indiana — 2.6%
City of Rockport IN RB, Series B, 1.35%, 07/01/25
(Put 09/01/22)^(a)		2,250		2,280,442
Indianapolis Local Public Improvement Bond Bank RB, 1.45%, 06/01/21 (Call 11/30/20)		5,190		5,194,308

				7,474,750

Iowa — 2.4%
Iowa Finance Authority RB, 0.32%, 04/01/22 (Put 11/06/20)^(a)		6,905		6,905,000


Kansas — 2.4%
City of Burlington KS RB
VRDN, 0.24%, 09/01/35 (Put 11/06/20)^(a)		4,000		4,000,000
VRDN, 0.24%, 09/01/35 (Put 11/06/20)^(a)		3,000		3,000,000

				7,000,000

Kentucky — 2.2%
City of Owensboro KY Electric Light & Power System Revenue RB, 5.00%, 01/01/21		1,550		1,560,943
Kentucky Public Energy Authority RB 4.00%, 12/01/20		1,070		1,072,643
4.00%, 06/01/21		1,060		1,079,419
4.00%, 08/01/21		300		307,068
Kentucky State Property & Building Commission RB 5.00%, 11/01/22		1,000		1,085,210
Series D, 5.00%, 05/01/21		600		613,152
Kentucky Turnpike Authority RB, 5.00%, 07/01/21		250		256,838
Tender Option Bond Trust Receipts/Certificates RB, Series 2018, 0.15%, 12/01/41 (Put 11/06/20) (AGM)^(a)(c)		500		500,000

				6,475,273


Security	Par (000)		Value

Louisiana — 0.8%
Consolidated Govt of the City of Baton Rouge & Parish of E Baton Rouge Sales Tax RB 5.00%, 08/01/21	$	865	$	893,432
5.00%, 08/01/22 (AGM)		465		501,619
Louisiana Offshore Terminal Authority RB, 1.65%, 09/01/27 (Put 12/01/23)^(a)		400		405,280
Louisiana Public Facilities Authority RB, 5.00%, 05/15/21		400		409,252

				2,209,583

Maryland — 0.2%
Maryland Health & Higher Educational Facilities Authority RB, 5.00%, 04/15/21		450		459,014


Massachusetts — 2.6%
City of Worcester MA GO, 2.00%, 02/16/21		4,800		4,823,568
Massachusetts Development Finance Agency RB, 5.00%, 07/01/21		975		1,001,296
Town of Truro MA GO, 2.00%, 06/11/21		1,700		1,716,864
University of Massachusetts Building Authority RB, 0.10%, 11/01/34 (Put 11/06/20)^(a)		100		100,000

				7,641,728

Michigan — 1.3%
Michigan Finance Authority RB 4.00%, 06/01/22		1,000		1,057,720
5.00%, 11/01/22 (ST INTERCEPT)		240		260,577
5.00%, 12/01/22		1,390		1,522,926
Wayne-Westland Community Schools GO 4.00%, 05/01/21 (Q-SBLF)		175		178,110
4.00%, 11/01/21 (Q-SBLF)		780		807,721

				3,827,054

Missouri — 0.8%
City of Washington MO COP, 5.00%, 03/01/22		350		369,814
RBC Municipal Products Inc. Trust RB, 0.19%, 09/01/39 (Put 11/06/20)^(a)(c)		2,000		2,000,000

				2,369,814

Nebraska — 0.8%
Central Plains Energy Project RB 4.00%, 02/01/21		250		252,118
4.00%, 08/01/21		750		769,290
VRDN, 5.00%, 03/01/50 (Put 01/01/24)^(a)		1,000		1,123,040
Douglas County Hospital Authority No. 2 RB, 5.00%, 11/15/21		120		125,557

				2,270,005

New Jersey — 20.7%
City of Jersey City NJ GO, 2.00%, 06/17/21		8,000		8,086,320
County of Mercer NJ GO, 2.00%, 06/10/21		3,000		3,030,810
Garden State Preservation Trust RB, 5.00%, 11/01/20		1,690		1,690,000
Jersey City Municipal Utilities Authority RB, 3.00%, 07/01/22		4,000		4,163,880
New Jersey Economic Development Authority RB 5.00%, 03/01/21 , (ETM)		340		345,321
5.00%, 06/15/21		4,250		4,334,830
5.00%, 06/15/21		1,500		1,538,790
5.00%, 06/15/22		2,000		2,128,600
5.50%, 09/01/21 (Call 03/01/21)		675		685,456
Series A, 4.00%, 07/01/22		2,000		2,082,500
Series K, 5.25%, 12/15/20 (AMBAC)		2,250		2,261,745
Series NN, 5.00%, 03/01/21		875		887,127
Series NN, 5.00%, 03/01/22		3,200		3,371,904
Series UU, 5.00%, 06/15/23		1,440		1,579,032
Series XX, 5.00%, 06/15/21 (SAP)		1,145		1,174,610


Security	Par (000)		Value

New Jersey (continued)
New Jersey Transportation Trust Fund Authority RB 5.25%, 12/15/20 (AGM)	$	500	$	502,375
Series A, 5.00%, 06/15/21		500		512,425
Series A, 5.50%, 12/15/21		425		446,794
Series A, 5.50%, 12/15/23		155		174,394
Series B, 5.25%, 12/15/22 (AMBAC)		500		543,325
Series B, 5.50%, 12/15/20 (NPFGC)		155		155,856
Series B, 5.50%, 12/15/21 (NPFGC)		1,975		2,076,278
Series D, 5.00%, 12/15/23		345		382,922
Tobacco Settlement Financing Corp. RB 5.00%, 06/01/21		5,000		5,128,700
5.00%, 06/01/22		3,000		3,207,960
Township of Cranford NJ GO, 1.50%, 06/25/21		1,800		1,812,654
Township of Maplewood NJ GO, 1.50%, 07/30/21		3,100		3,121,793
Township of Teaneck NJ GO, 1.50%, 06/25/21		1,800		1,811,358
Township of West Orange/NJ GO, 1.50%, 07/30/21		1,800		1,815,930
Township of Woolwich NJ GO, 1.50%, 06/03/21		1,200		1,205,244

				60,258,933

New Mexico — 0.2%
New Mexico Municipal Energy Acquisition Authority RB, 4.00%, 05/01/22		600		630,930


New York — 14.5%
Albany Industrial Development Agency RB, 0.26%, 07/01/32 (Put 11/06/20)^(a)		1,000		1,000,000
Amherst Development Corp. RB, Series A, 0.18%, 02/01/35 (Put 11/06/20)^(a)		1,745		1,745,000
Arlington Central School District GO, 1.50%, 06/29/21		1,857		1,868,736
Carmel Central School District GO, 1.50%, 06/17/21 (SAW)		2,500		2,517,100
City of New York NY GO
VRDN, 0.13%, 08/01/44 (Put 10/30/20)^(a)		1,500		1,500,000
VRDN, 0.11%, 06/01/44 (Put 10/30/20)^(a)		7,900		7,900,000
County of Monroe NY GOL, 4.00%, 06/01/21		1,000		1,022,710
Monroe County Industrial Development Corp./NY RB, 5.00%, 12/01/21		575		599,892
New York City Water & Sewer System RB, 0.11%, 06/15/50 (Put 10/30/20)^(a)		8,000		8,000,000
New York State Dormitory Authority RB, 5.00%, 03/31/21		3,400		3,466,266
Port Authority of New York & New Jersey RB
(3.75)%, 11/12/20		5,000		5,000,066
(0.42)%, 12/21/20		1,025		1,024,927
South Colonie Central School District GO, 1.50%, 07/09/21 (SAW)		1,200		1,207,968
Tender Option Bond Trust Receipts/Certificates GO, 0.16%, 09/01/26 (Put 11/06/20)^(a)(c)		2,195		2,195,000
Tender Option Bond Trust Receipts/Certificates RB, 0.15%, 07/01/50 (Put 11/06/20)^(a)(c)		2,000		2,000,000
Warwick Valley Central School District GO, 1.25%, 06/30/21 (SAW)		1,300		1,306,227

				42,353,892

North Carolina — 0.4%
City of Raleigh NC COP, 0.11%, 02/01/34 (Put 11/06/20)^(a)		500		500,000
North Carolina Turnpike Authority RB 5.00%, 01/01/21		425		427,860
5.00%, 01/01/22		215		225,359

				1,153,219

Ohio — 3.8%
City of Berea OH GOL, 2.00%, 03/11/21		1,500		1,507,905


Security	Par (000)		Value

Ohio (continued)
City of Cleveland OH GOL 2.00%, 12/01/21	$	300	$	304,950
2.00%, 12/01/22		300		309,309
City of North Olmsted OH GOL, 2.00%, 03/10/21		1,000		1,005,240
County of Allen OH Hospital Facilities Revenue RB, 5.00%, 12/01/20		1,500		1,505,205
County of Franklin OH RB, 0.11%, 11/15/41 (Put 11/06/20)^(a)		2,000		2,000,000
Lancaster Port Authority RB, 5.00%, 02/01/21		300		303,300
State of Ohio RB, 0.25%, 11/01/35 (Put 12/01/20)^(a)		4,000		4,000,000

				10,935,909

Pennsylvania — 7.2%
Allegheny County Hospital Development Authority RB, 5.00%, 04/01/22		2,000		2,120,500
Boyertown Area School District GOL, 2.00%, 09/01/21 (SAW)		400		404,744
City of Philadelphia PA RB, 4.00%, 06/30/21		3,000		3,072,540
Connellsville Area School District GOL 4.00%, 08/15/21 (BAM SAW)		500		513,280
4.00%, 08/15/22 (BAM SAW)		500		529,705
DuBois Area School District GOL, 3.00%, 11/01/21 (BAM SAW)		175		179,590
Geisinger Authority RB, 5.00%, 04/01/22		2,000		2,124,860
Muhlenberg School District GOL 1.00%, 05/15/21 (SAW)		1,000		1,003,570
4.00%, 05/15/22 (SAW)		700		738,850
Palmyra Area School District GOL, 4.00%, 04/01/21 (SAW)		900		913,707
Pennsylvania Economic Development Financing Authority RB 2.15%, 11/01/21		1,000		1,015,180
5.00%, 04/15/21		425		433,568
Pennsylvania Housing Finance Agency RB 5.00%, 10/01/21		300		312,021
5.00%, 10/01/22		380		411,555
Philadelphia Gas Works Co. RB 5.00%, 08/01/21		1,000		1,034,190
5.00%, 08/01/22		1,315		1,418,951
Phoenixville Area School District GOL, 2.00%, 11/15/20 (SAW)		700		700,385
Pottstown School District GOL, 1.00%, 06/06/21 (BAM SAW)		250		250,975
School District of Philadelphia (The) GO, 4.00%, 06/30/21		3,000		3,072,240
Southeastern Pennsylvania Transportation Authority RB 5.00%, 06/01/21		250		256,710
5.00%, 06/01/22		360		386,107

				20,893,228

Puerto Rico — 1.1%
Puerto Rico Housing Finance Authority RB, 5.00%, 12/01/22		3,000		3,267,450


South Carolina — 0.3%
South Carolina Public Service Authority RB, 0.23%, 01/01/36 (Put 11/06/20)^(a)		1,000		1,000,000


Texas — 8.1%
Harris County Cultural Education Facilities Finance Corp. RB, 5.00%, 06/01/32 (Put 12/01/22)^(a)		4,000		4,371,320
Harris County Health Facilities Development Corp. RB, 0.10%, 12/01/41 (Put 10/30/20)^(a)		1,300		1,300,000


Security	Par/ Shares (000)		Value

Texas (continued)
Port of Arthur Navigation District Industrial Development Corp. RB
VRDN, 0.17%, 03/01/42 (Put 11/06/20)^(a)	$	6,000	$	6,000,000
VRDN, 0.17%, 06/01/41 (Put 11/06/20)^(a)		2,000		2,000,000
RBC Municipal Products Inc. Trust, 0.15%, 09/08/21 (Put 11/06/20)^(a)(c)		3,000		3,000,000
State of Texas GO
VRDN, 0.15%, 06/01/44 (Put 11/06/20)^(a)		420		420,000
VRDN, 0.15%, 06/01/45 (Put 11/06/20)^(a)		3,000		3,000,000
Tender Option Bond Trust Receipts/Certificates RB, 0.22%, 06/15/27 (Put 11/06/20)^(a)(c)		1,500		1,500,000
University of Texas, 0.43%, 02/19/21		2,000		2,001,408

				23,592,728

Washington — 3.6%
County of King WA GOL, 0.11%, 01/01/46 (Put 10/30/20)^(a)		10,000		10,000,000
King County Housing Authority RB 3.00%, 06/01/21		365		369,792
3.00%, 06/01/22		250		258,778

				10,628,570

Wisconsin — 0.4%
Public Finance Authority RB 5.00%, 01/01/21		220		221,436
5.00%, 01/01/22		200		209,318
5.00%, 06/01/22		175		187,364
Wisconsin Health & Educational Facilities Authority RB, 5.00%, 10/01/21		400		415,180

				1,033,298


Total Municipal Debt Obligations — 102.1% (Cost $296,290,567)				297,095,135


Money Market Funds

BlackRock Liquidity Funds: MuniCash, 0.01%^(d)(e)		118		117,575


Total Money Market Funds — 0.0% (Cost: $117,576)				117,575


Total Investments in Securities — 102.1% (Cost: $296,408,143)				297,212,710

Other Assets, Less Liabilities — (2.1)%				(6,121,846	)


Net Assets — 100.0%			$	291,090,864

^(a)	Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand.

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

^(c)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

^(d)	Affiliate of the Fund.

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


Security	Par (000)		Value

Asset-Backed Securities
CarMax Auto Owner Trust
Series 2019-1, Class A2A, 3.02%, 07/15/22	$	193	$	193,177
Series 2020-1, Class A2, 1.87%, 04/17/23		2,635		2,656,112
Series 2020-3, Class A2A, 0.49%, 06/15/23		6,470		6,478,707
Series 2020-3, Class A2B, 0.40%, 06/15/23, (1 mo. LIBOR US + 0.250%)^(a)		1,830		1,831,601
Series 20-4, Class A2A, 0.31%, 01/16/24		14,100		14,098,081
CNH Equipment Trust, Series 2019-A, Class A2, 2.96%, 05/16/22		360		360,605
Ford Credit Auto Lease Trust, Series 2020-B, Class A2A, 0.50%, 12/15/22		23,750		23,778,296
Ford Credit Auto Owner Trust, Series 2020-B, Class A2, 0.50%, 02/15/23		7,260		7,267,601
Honda Auto Receivables Owner Trust
Series 2019-1, Class A, 2.75%, 09/20/21		915		916,747
Series 2020-2, Class A2, 0.74%, 11/15/22		4,760		4,773,125
Series 20-3, Class A2, 0.27%, 02/21/23		11,990		11,993,512


Total Asset-Backed Securities — 1.5% (Cost: $74,263,676)				74,347,564


Certificates of Deposit
Banco Santander SA/New York
0.41%, 02/11/21, (3 mo. LIBOR US + 0.160%)^(a)		4,500		4,500,749
0.98%, 01/29/21, (3 mo. LIBOR US + 0.140%)^(a)		6,000		6,001,304
Bank of America N.A., 0.28%, 10/01/21^(a)		8,750		8,749,999
Bank of Montreal/Chicago IL
0.29%, 08/10/21, (3 mo. LIBOR US + 0.050%)^(a)		28,000		28,006,455
0.29%, 10/06/21, (3 mo. LIBOR US + 0.040%)^(a)		22,000		22,002,035
0.36%, 02/12/21, (3 mo. LIBOR US + 0.100%)^(a)		7,700		7,702,540
1.25%, 01/11/21		15,000		15,032,588
Bank of Nova Scotia/Houston, 0.36%, 08/23/21, (3 mo. LIBOR US + 0.100%)^(a)		15,000		15,009,654
Barclays Bank PLC 0.45%, 03/15/21		10,000		10,009,014
0.58%, 02/19/21, (3 mo. LIBOR US + 0.420%)^(a)		9,000		9,008,001
0.60%, 12/15/20		8,000		8,004,852
0.70%, 02/01/21		15,000		15,025,401
1.25%, 03/03/21		7,000		7,025,186
2.01%, 12/08/20		9,000		9,018,376
Bayerische Landesbank/New York 0.25%, 02/19/21		10,000		10,001,303
0.40%, 01/28/21, (3 mo. LIBOR US + 0.180%)^(a)		13,800		13,797,694
0.72%, 02/03/22, (3 mo. LIBOR US + 0.470%)^(a)		20,000		20,030,005
BNP Paribas SA/New York NY, 0.50%, 02/01/21, (3 mo. LIBOR US + 0.250%)^(a)		17,000		17,011,894
Canadian Imperial Bank of Commerce/New York NY
0.23%, 11/08/21, (3 mo. LIBOR US + 0.050%)^(a)		10,000		10,000,000
0.35%, 07/23/21, (3 mo. LIBOR US + 0.140%)^(a)		13,000		13,012,192
0.39%, 01/04/21, (1 mo. LIBOR US + 0.250%)^(a)		10,000		10,005,136
0.41%, 08/06/21, (3 mo. LIBOR US + 0.160%)^(a)		3,500		3,503,711
0.41%, 08/06/21, (3 mo. LIBOR US + 0.160%)^(a)		10,000		10,010,604
Citibank N.A., 0.25%, 09/08/21		1,000		1,000,017
Cooperatieve Rabobank UA/NY, 0.27%, 10/20/21, (3 mo. LIBOR US + 0.050%)^(a)		17,000		16,999,999
Credit Agricole Corporate and Investment Bank/New York
0.45%, 07/15/21, (3 mo. LIBOR US + 0.210%)^(a)		7,000		7,008,352
0.49%, 01/11/21, (3 mo. LIBOR US + 0.270%)^(a)		3,000		3,001,782
0.49%, 11/15/21, (SOFRRATE + 0.400%)^(a)		6,500		6,504,072
0.72%, 09/09/21, (3 mo. LIBOR US + 0.480%)^(a)		12,425		12,464,997


Security	Par (000)		Value
0.83%, 01/14/21, (3 mo. LIBOR US + 0.600%)^(a)	$	3,145	$	3,148,969
Credit Industriel et Commercial/New York 0.30%, 04/20/21, (3 mo. LIBOR US + 0.090%)^(a)		13,000		13,005,455
0.40%, 02/26/21		8,000		8,006,336
0.41%, 06/09/21, (3 mo. LIBOR US + 0.170%)^(a)		5,000		5,004,795
0.41%, 06/18/21, (3 mo. LIBOR US + 0.180%)^(a)		10,000		10,010,708
0.90%, 01/21/21		8,000		8,014,075
1.94%, 01/08/21^(b)		8,000		7,998,429
Credit Suisse AG/New York NY 0.34%, 11/01/21		20,000		20,003,848
0.39%, 11/16/21, (SOFRRATE + 0.300%)^(a)		8,000		8,000,251
0.44%, 08/03/21, (SOFRRATE + 0.350%)^(a)		10,000		10,011,591
0.45%, 12/30/20, (3 mo. LIBOR US + 0.230%)^(a)		5,000		5,001,661
0.50%, 04/01/21		10,000		10,012,253
1.48%, 12/11/20, (3 mo. LIBOR US + 0.160%)^(a)		3,000		3,000,443
1.97%, 11/20/20		3,000		3,003,183
DNB Bank ASA/New York, 0.44%, 07/19/21, (3 mo. LIBOR US + 0.220%)^(a)		13,000		13,013,901
DZ Bank AG Deutsche Zentral-Genossenschaftsbank/New York, 0.48%, 02/17/22, (3 mo. LIBOR US + 0.200%)^(a)		27,000		26,948,024
Goldman Sachs Bank USA/New York NY, 1.98%, 02/26/21, (SOFRRATE + 0.430%)^(a)		4,000		4,004,492
HSBC Bank USA N.A., 0.36%, 02/04/21, (3 mo. LIBOR US + 0.110%)^(a)		9,000		9,002,046
Kookmin Bank/New York 0.52%, 10/22/21, (3 mo. LIBOR US + 0.300%)^(a)		7,500		7,502,180
0.56%, 09/07/21, (3 mo. LIBOR US + 0.320%)^(a)		9,000		9,004,546
0.64%, 02/17/21, (3 mo. LIBOR US + 0.370%)^(a)		30,000		30,014,714
0.72%, 07/22/21, (3 mo. LIBOR US + 0.500%)^(a)		10,000		10,019,532
Korea Development Bank/New York, 0.60%, 07/14/21,
(3 mo. LIBOR US + 0.370%)^(a)		13,500		13,502,825
Landesbank Baden-Wuerttemberg 0.25%, 02/16/21		7,000		7,000,359
0.27%, 01/11/21		30,000		30,003,701
Lloyds Bank Corporate Markets PLC/New York NY 0.35%, 09/15/21, (3 mo. LIBOR US + 0.100%)^(a)		10,000		9,998,269
0.56%, 04/27/21		8,000		8,011,536
0.74%, 04/26/21, (3 mo. LIBOR US + 0.520%)^(a)		16,000		16,036,310
0.77%, 07/19/21, (3 mo. LIBOR US + 0.550%)^(a)		4,000		4,013,116
1.93%, 01/06/21		3,500		3,511,445
2.03%, 12/18/20		5,500		5,513,967
Mitsubishi UFJ Trust & Banking Corp. 0.25%, 03/12/21		7,000		7,001,059
0.26%, 05/10/21		12,000		12,000,831
0.29%, 02/18/21, (1 mo. LIBOR US + 0.140%)^(a)		9,000		9,001,205
0.43%, 01/27/21		12,000		12,008,267
Mizuho Bank Ltd./New York NY 0.31%, 02/01/21, (1 mo. LIBOR US + 0.160%)^(a)		11,000		11,001,995
0.33%, 10/29/21		10,000		10,001,004
0.34%, 12/18/20, (3 mo. LIBOR US + 0.110%)^(a)		10,000		10,001,749
0.34%, 08/16/21		6,000		6,002,459
0.72%, 01/25/21, (3 mo. LIBOR US + 0.500%)^(a)		2,000		2,002,166
0.73%, 07/16/21, (3 mo. LIBOR US + 0.500%)^(a)		3,000		3,007,424
Morgan Stanley Bank N.A. 0.38%, 08/25/21, (SOFRRATE + 0.300%)^(a)		15,000		15,006,049
2.32%, 02/19/21^(a)		4,400		4,405,557
National Westminster Bank PLC, 0.00%, 03/26/21		23,000		22,975,139
Natixis SA/New York NY, 1.93%, 11/12/20		6,000		6,003,956
Nordea Bank Abp/New York NY 0.37%, 02/28/22, (3 mo. LIBOR US + 0.120%)^(a)		14,500		14,503,832
0.48%, 01/07/22, (3 mo. LIBOR US + 0.260%)^(a)		6,500		6,513,016


Security	Par (000)		Value
0.54%, 02/05/21, (3 mo. LIBOR US + 0.290%)^(a)	$	9,848	$	9,856,301
1.12%, 01/28/22, (3 mo. LIBOR US + 0.230%)^(a)		10,000		10,016,067
Royal Bank of Canada/New York NY 0.28%, 10/08/21, (3 mo. LIBOR US + 0.050%)^(a)		26,000		25,999,999
0.43%, 07/26/21		20,000		20,053,100
0.66%, 04/23/21, (3 mo. LIBOR US + 0.450%)^(a)		8,000		8,017,466
Standard Chartered Bank/New York 0.30%, 02/12/21		45,000		45,012,444
0.30%, 05/14/21		10,000		9,999,183
0.32%, 04/28/21, (3 mo. LIBOR US + 0.100%)^(a)		8,000		8,000,000
0.40%, 08/24/21, (3 mo. LIBOR US + 0.150%)^(a)		10,750		10,754,337
0.43%, 08/27/21^(b)		8,000		7,979,850
Sumitomo Mitsui Banking Corp./New York 0.32%, 01/15/21, (3 mo. LIBOR US + 0.080%)^(a)		10,000		10,002,026
0.57%, 07/12/21, (3 mo. LIBOR US + 0.350%)^(a)		5,000		5,008,320
0.59%, 04/06/21, (3 mo. LIBOR US + 0.355%)^(a)		6,476		6,484,718
0.60%, 10/12/21, (3 mo. LIBOR US + 0.380%)^(a)		3,000		3,005,117
0.60%, 11/05/21, (3 mo. LIBOR US + 0.350%)^(a)		8,500		8,508,522
0.61%, 11/12/21, (3 mo. LIBOR US + 0.350%)^(a)		5,000		5,005,109
0.62%, 11/05/21, (3 mo. LIBOR US + 0.370%)^(a)		2,000		2,002,406
0.65%, 02/12/21, (3 mo. LIBOR US + 0.390%)^(a)		14,474		14,489,912
0.69%, 09/10/21, (3 mo. LIBOR US + 0.440%)^(a)		5,000		5,010,209
0.70%, 07/15/22		10,000		10,006,621
Sumitomo Mitsui Trust Bank Ltd./New York 0.34%, 12/22/20, (3 mo. LIBOR US + 0.110%)^(a)		25,000		25,004,760
0.43%, 11/12/20		7,000		7,000,808
Sumitomo Mitsui Trust Bank Ltd./New York, 0.21%, 11/16/20		5,000		5,000,236
Svenska Handelsbanken/New York NY 0.28%, 10/15/21, (3 mo. LIBOR US + 0.050%)^(a)		10,000		10,000,000
0.35%, 06/16/21, (3 mo. LIBOR US + 0.110%)^(a)		10,000		10,006,807
0.39%, 01/04/21, (1 mo. LIBOR US + 0.250%)^(a)		10,000		10,004,219
1.63%, 01/06/22, (3 mo. LIBOR US + 0.260%)^(a)		14,500		14,522,145
Swedbank AB/New York, 0.27%, 10/20/21, (3 mo. LIBOR US + 0.050%)^(a)		10,000		10,000,000
Toronto-Dominion Bank/NY
0.30%, 10/08/21 (Call 07/08/21), (3 mo. LIBOR US + 0.700%)^(a)		15,000		14,999,999
0.32%, 08/24/21, (3 mo. LIBOR US + 0.100%)^(a)		10,000		10,007,266
0.40%, 08/16/21		8,000		8,011,157
0.43%, 07/28/21		20,000		20,031,338
0.43%, 08/03/21		13,000		13,020,700
0.62%, 04/26/21, (3 mo. LIBOR US + 0.400%)^(a)		5,000		5,010,143
1.13%, 04/14/21		10,000		10,042,554
UBS AG/Stamford CT 1.38%, 04/16/21		10,000		10,053,434
1.55%, 01/06/21		15,000		15,039,532
Westpac Banking Corp./NY, 0.39%, 12/09/20, (3 mo. LIBOR US + 0.150%)^(a)		12,000		12,002,158


Total Certificates of Deposit — 24.9% (Cost: $1,226,189,138)				1,227,175,543


Commercial Paper

American Electric Power Co. Inc., 0.16%, 11/16/20^(b)		4,000		3,999,669
American Honda Finance Corp. 0.30%, 01/21/21^(b)		6,500		6,496,628
0.39%, 11/24/20^(b)		18,800		18,797,650
0.41%, 11/23/20^(b)		10,000		9,998,827


Security	Par (000)		Value
ANZ New Zealand Int’l Ltd./London, 0.30%, 08/26/21, (3 mo. LIBOR US + 0.090%)^(a)(c)	$	10,000	$	10,005,088
AT&T Inc., 0.22%, 12/10/20^(b)		14,500		14,495,095
Avangrid Inc. 0.29%, 01/04/21^(b)		14,643		14,637,255
0.29%, 01/05/21^(b)(c)		4,855		4,853,057
0.30%, 02/04/21^(b)		20,000		19,987,121
Barclays Bank PLC, 1.85%, 01/28/21^(b)		15,000		14,991,750
BASF SE, 0.22%, 12/29/20^(b)		25,000		24,993,333
Bedford Row Funding Corp., 1.16%, 04/12/21^(b)		10,000		9,992,028
Bennington Stark Capital Co. LLC, 0.16%, 11/05/20^(b)		10,400		10,399,792
BPCE SA 0.12%, 12/01/20^(b)		8,000		7,999,168
0.30%, 05/13/21^(b)		10,000		9,986,188
0.40%, 06/16/21^(b)		5,000		4,991,762
0.47%, 07/01/21^(b)		10,000		9,982,174
2.04%, 12/23/20^(b)		8,000		7,998,332
Brookfield Renewable Partners LP 0.34%, 12/01/20^(b)		12,750		12,747,835
0.34%, 12/08/20^(b)		3,500		3,499,257
0.36%, 12/15/20^(b)		13,400		13,396,558
0.38%, 12/10/20^(b)		9,000		8,997,981
Caisse d’Amortissement de la Dette Sociale 0.37%, 07/23/21^(b)		5,000		4,987,505
0.48%, 06/15/21^(b)		15,000		14,980,810
Canadian Imperial Bank of Commerce, 0.32%, 08/03/21, (3 mo. LIBOR US + 0.070%)^(a)(c)		20,000		20,007,547
Coca-Cola Co., 1.63%, 02/11/21^(b)		5,000		4,998,816
DBS Bank Ltd., 0.40%, 04/01/21^(b)		17,000		16,986,851
Dominion Resources 0.17%, 11/03/20^(b)		30,400		30,399,493
0.30%, 11/16/20^(b)		11,500		11,499,050
Dowdupont Inc., 0.21%, 11/17/20^(b)		8,000		7,997,704
Electricite de France SA, 0.25%, 12/11/20^(b)		17,000		16,997,065
Enbridge Inc., 0.20%, 11/30/20^(b)		20,000		19,996,711
Enel Finance America LLC 0.35%, 11/13/20^(b)		5,250		5,249,659
0.35%, 11/19/20^(b)		6,250		6,249,385
0.37%, 01/07/21^(b)		9,250		9,246,171
0.40%, 01/08/21^(b)		13,981		13,975,101
0.40%, 01/20/21^(b)		10,950		10,944,388
0.40%, 01/21/21^(b)		10,950		10,944,320
0.40%, 01/26/21^(b)		10,750		10,743,982
0.42%, 02/09/21^(b)		12,000		11,991,636
0.42%, 02/11/21^(b)		1,900		1,898,633
0.45%, 03/18/21^(b)		8,913		8,903,054
0.45%, 03/23/21^(b)		8,912		8,901,519
Engie SA, 0.26%, 12/10/20^(b)(c)		11,300		11,297,465
Eversource Energy, 0.17%, 11/05/20^(b)		16,000		15,999,627
Fidelity National Information Services Inc. 0.18%, 11/06/20^(b)		7,250		7,249,789
0.20%, 11/12/20^(b)(c)		12,200		12,199,273
FMS Wertmanagement, 0.25%, 05/14/21^(b)		14,000		13,986,661
Henkel of America Inc., 0.45%, 02/05/21^(b)		6,430		6,427,479
Hitachi Capital America Corp. 0.25%, 11/10/20^(b)		14,750		14,749,324
0.25%, 11/30/20^(b)		15,000		14,997,533
0.28%, 11/12/20^(b)		11,000		10,999,364
HSBC Bank PLC 0.20%, 01/07/21^(b)		12,000		11,994,940
0.39%, 08/31/21, (3 mo. LIBOR US + 0.140%)^(a)(c)		7,000		7,002,306


Security	Par (000)		Value

0.39%, 09/13/21, (3 mo. LIBOR US + 0.140%)^(a)(c)	$	5,000	$	4,999,999
0.43%, 07/20/21, (3 mo. LIBOR US + 0.220%)^(a)(c)		5,000		5,005,388
0.44%, 12/30/20, (1 mo. LIBOR US + 0.290%)^(a)(c)		5,000		5,002,313
0.44%, 08/02/21^(b)		15,000		14,969,870
0.45%, 08/06/21, (3 mo. LIBOR US + 0.210%)^(a)(c)		10,000		10,009,844
0.50%, 06/09/21, (3 mo. LIBOR US + 0.260%)^(a)(c)		15,000		15,017,977
HSBC USA Inc., 0.55%, 12/23/20^(b)		22,000		21,992,476
Hyundai Capital America 0.30%, 01/19/21^(b)		18,000		17,982,828
0.30%, 01/20/21^(b)		5,000		4,995,160
Intercontinental Exchange Inc. 0.26%, 11/09/20^(b)		7,000		6,999,293
0.30%, 12/01/20^(b)		13,500		13,495,464
0.30%, 12/18/20^(b)		5,250		5,247,212
Ionic Capital II 0.23%, 01/22/21^(b)		10,000		9,994,493
0.28%, 02/12/21^(b)		17,000		16,987,753
Ionic Capital II Trust, 0.23%, 02/05/21^(b)		10,000		9,993,358
La Fayette Asset Securitization LLC, 0.42%, 01/19/21^(b)		25,452		25,441,062
Landesbank Baden-Wuerttemberg 0.18%, 11/23/20^(b)		2,000		1,999,772
0.26%, 02/16/21^(b)		8,000		7,994,356
0.27%, 01/19/21^(b)		15,000		14,992,778
0.27%, 02/01/21^(b)		15,000		14,991,266
Lloyds Bank PLC, 0.35%, 01/21/21, (3 mo. LIBOR US + 0.140%)^(a)(c)		13,000		13,002,565
LVMH Moet Hennessy Louis Vuitton SE 0.38%, 07/19/21^(b)		10,000		9,985,008
0.38%, 07/27/21^(b)		20,700		20,667,398
0.40%, 01/04/21^(b)		10,000		9,997,543
0.50%, 12/17/20^(b)		29,000		28,995,128
Macquarie Bank Ltd. 0.22%, 04/08/21^(b)		8,000		7,992,427
0.34%, 02/16/21, (3 mo. LIBOR US + 0.070%)^(a)(c)		10,000		10,000,572
Mizuho Bank Ltd., 0.33%, 02/10/21^(b)		6,660		6,656,113
Mont Blanc Capital Corp., 0.26%, 11/04/20^(b)		10,000		9,999,833
National Australia Bank Ltd.
0.35%, 07/08/21, (3 mo. LIBOR US + 0.120%)^(a)(c)		5,000		5,003,574
0.36%, 12/09/20, (3 mo. LIBOR US + 0.120%)^(a)(c)		12,000		12,001,799
National Bank of Canada, 0.30%, 08/11/21, (3 mo. LIBOR US + 0.050%)^(a)(c)		20,000		20,003,107
National Grid PLC 0.28%, 01/05/21^(b)		22,750		22,740,897
0.30%, 01/25/21^(b)		20,000		19,988,980
Nationwide Building Society, 0.15%, 11/16/20^(b)		30,000		29,997,889
Nutrien Ltd. 0.20%, 11/23/20^(b)		9,500		9,498,822
0.22%, 12/02/20^(b)		10,000		9,998,240
0.24%, 12/31/20^(b)		20,000		19,992,732
0.26%, 11/10/20^(b)		7,000		6,999,551
0.50%, 11/05/20^(b)		10,000		9,999,678
Pricoa Short Term Funding LLC, 0.42%, 02/16/21^(b)		10,250		10,246,772
Reckitt Benckiser Treasury Services PLC, 0.19%, 12/14/20^(b)		9,000		8,997,581
Ridgefield Funding Co. LLC, 0.36%, 12/02/20^(b)		9,000		8,998,738
Rogers Communications Inc., 0.55%, 08/26/21^(b)		6,170		6,146,708
Royal Bank of Canada, 0.65%, 05/03/21^(b)		5,000		4,996,583
Salisbury Receivables Co. LLC 0.36%, 02/08/21^(b)		8,000		7,993,356
0.38%, 02/19/21, (SOFRRATE + 0.300%)^(a)(c)		9,000		9,003,160


Security	Par (000)		Value

Shell International Finance BV 0.40%, 07/08/21^(b)	$	15,000	$	14,969,880
0.50%, 06/09/21^(b)		17,000		16,972,114
0.52%, 06/22/21^(b)		22,500		22,460,050
Societe Generale SA, 0.58%, 06/08/21, (3 mo. LIBOR US + 0.330%)^(a)(c)		17,000		17,020,273
Suncor Energy Inc. 0.27%, 01/07/21^(b)		12,650		12,644,763
0.30%, 12/08/20^(b)		21,250		21,245,488
0.30%, 12/11/20^(b)(c)		8,000		7,998,152
0.31%, 01/14/21^(b)		8,500		8,496,034
0.39%, 11/10/20^(b)		4,400		4,399,785
0.40%, 11/09/20^(b)(c)		3,750		3,749,835
0.41%, 11/04/20^(b)		4,545		4,544,905
Swedbank AB, 0.30%, 04/15/21^(b)		10,000		9,989,980
Telstra Corp. Ltd. 0.30%, 12/18/20^(b)		12,950		12,946,316
1.28%, 12/21/20^(b)		8,140		8,137,507
TELUS Corp., 0.30%, 04/23/21^(b)		4,000		3,993,525
Total Capital Canada Ltd., 0.41%, 12/07/20^(b)		20,000		19,997,699
Toyota Motor Credit Corp., 0.35%, 01/14/21^(b)		20,000		19,993,836
TransCanada PipeLines Ltd. 0.20%, 11/19/20^(b)		6,500		6,499,343
0.22%, 12/01/20^(b)		3,400		3,399,423
0.23%, 11/12/20^(b)		6,000		5,999,643
0.25%, 12/15/20^(b)		10,000		9,997,432
0.27%, 12/08/20^(b)		9,000		8,998,089
0.30%, 01/15/21^(b)		10,600		10,594,989
0.32%, 01/07/21^(b)		7,300		7,296,978
0.33%, 01/05/21^(b)		10,000		9,995,999
0.33%, 01/06/21^(b)		6,000		5,997,563
0.35%, 01/25/21^(b)		10,200		10,194,380
UBS AG/London 0.36%, 10/14/21, (3 mo. LIBOR US + 0.120%)^(a)(c)		18,000		17,999,999
0.40%, 06/23/21, (3 mo. LIBOR US + 0.180%)^(a)(c)		12,000		12,006,574
0.40%, 07/09/21, (3 mo. LIBOR US + 0.170%)^(a)(c)		15,000		15,007,493
VW Credit Inc., 2.04%, 01/29/21^(b)		12,900		12,892,467
Walt Disney Co. (The), 0.48%, 02/19/21^(b)		15,000		14,986,420
Waste Management Inc. 0.40%, 08/09/21^(b)		22,000		21,939,296
0.45%, 09/10/21^(b)		43,000		42,866,431
Western Union Co. (The), 0.20%, 11/02/20^(b)		32,000		31,999,509
Westpac Banking Corp., 0.26%, 05/28/21, (3 mo. LIBOR US + 0.090%)^(a)(c)		8,000		8,003,624


Total Commercial Paper — 33.6% (Cost: $1,651,566,853)				1,652,302,919


Corporate Bonds & Notes

Aerospace & Defense — 0.2%
General Dynamics Corp., 3.88%, 07/15/21 (Call 04/15/21)		4,156		4,222,116
Raytheon Technologies Corp., 2.80%, 03/15/22 (Call 02/15/22)^(c)		6,000		6,174,634

				10,396,750

Auto Manufacturers — 4.4%
American Honda Finance Corp.
0.33%, 01/21/22, (3 mo. LIBOR US + 0.120%)^(a)		7,000		6,998,978
0.40%, 10/21/22		6,000		5,999,416
0.47%, 02/12/21, (3 mo. LIBOR US + 0.210%)^(a)		1,000		1,000,567
0.60%, 06/11/21, (3 mo. LIBOR US + 0.350%)^(a)		4,120		4,128,034


Security	Par (000)		Value

Auto Manufacturers (continued)
0.65%, 09/08/23	$	20,000	$	20,064,032
0.67%, 09/08/23, (3 mo. LIBOR US + 0.420%)^(a)		5,790		5,805,524
2.20%, 06/27/22		10,100		10,397,008
BMW U.S. Capital LLC
0.63%, 04/12/21, (3 mo. LIBOR US + 0.410%)^(a)(c)		2,000		2,002,636
0.75%, 08/13/21, (3 mo. LIBOR US + 0.500%)^(a)(c)		5,000		5,009,703
1.85%, 09/15/21 (Call 08/15/21)^(c)		10,000		10,116,126
2.70%, 04/06/22 (Call 03/06/22)^(c)		5,000		5,147,359
2.95%, 04/14/22^(c)		5,000		5,178,907
3.10%, 04/12/21^(c)		2,045		2,069,192
Daimler Finance North America LLC
0.71%, 02/22/21, (3 mo. LIBOR US + 0.450%)^(a)(c)		3,000		3,002,184
2.00%, 07/06/21^(c)		3,000		3,028,953
2.30%, 02/12/21^(c)		1,535		1,542,654
3.40%, 02/22/22^(c)		5,000		5,180,157
Hyundai Capital America
1.07%, 03/12/21, (3 mo. LIBOR US + 0.820%)^(a)(c)		1,000		999,856
2.38%, 02/10/23^(c)		7,560		7,760,812
2.85%, 11/01/22^(c)		3,440		3,561,475
3.45%, 03/12/21^(c)		2,200		2,219,938
PACCAR Financial Corp.
0.50%, 05/10/21, (3 mo. LIBOR US + 0.260%)^(a)		680		680,913
0.80%, 06/08/23		2,760		2,782,475
2.05%, 11/13/20		580		580,260
3.10%, 05/10/21		915		928,816
Toyota Motor Credit Corp. 0.35%, 10/14/22		13,000		13,002,080
0.38%, 08/13/21, (3 mo. LIBOR US + 0.125%)^(a)		15,345		15,356,196
0.42%, 02/14/22, (3 mo. LIBOR US + 0.150%)^(a)		21,790		21,794,283
0.44%, 10/14/22, (SOFRRATE + 0.340%)^(a)		13,000		13,005,070
0.45%, 07/22/22		6,580		6,599,257
0.51%, 10/07/21, (3 mo. LIBOR US + 0.290%)^(a)		12,500		12,526,076
3.05%, 01/08/21		2,435		2,447,512
Volkswagen Group of America Finance LLC
1.08%, 09/24/21, (3 mo. LIBOR US + 0.860%)^(a)(c)		3,870		3,887,965
2.50%, 09/24/21^(c)		430		437,574
3.88%, 11/13/20^(c)		10,250		10,260,153

				215,502,141

Auto Parts & Equipment — 0.0%
Toyota Industries Corp., 3.11%, 03/12/22 (Call 02/12/22)^(c)		1,000		1,032,518


Banks — 15.7%
ABN AMRO Bank NV
0.82%, 08/27/21, (3 mo. LIBOR US + 0.570%)^(a)(c)		3,000		3,011,640
2.65%, 01/19/21^(c)		21,955		22,065,767
3.40%, 08/27/21^(c)		4,060		4,164,002
ANZ New Zealand Int’l Ltd./London
1.23%, 07/28/21, (3 mo. LIBOR US + 1.010%)^(a)(c)		4,000		4,027,722
2.13%, 07/28/21^(c)		2,619		2,652,154
2.75%, 01/22/21^(c)		5,000		5,026,746
Australia & New Zealand Banking Group Ltd.
0.56%, 11/09/20, (3 mo. LIBOR US + 0.320%)^(a)(c)		1,000		1,000,054
0.82%, 11/09/22, (3 mo. LIBOR US + 0.580%)^(a)(c)		9,000		9,067,232
4.88%, 01/12/21^(c)		4,000		4,034,726
Australia & New Zealand Banking Group Ltd./New York NY, 2.55%, 11/23/21		2,000		2,047,340
Bank of America Corp.
2.74%, 01/23/22 (Call 01/23/21), (3 mo. LIBOR US + 0.370%)^(a)		12,500		12,565,067


Security	Par (000)		Value

Banks (continued)
3.12%, 01/20/23 (Call 01/20/22), (3 mo. LIBOR US + 1.160%)^(a)	$	1,615	$	1,663,771
5.00%, 05/13/21		10,000		10,247,334
5.88%, 01/05/21		13,000		13,125,197
Bank of Montreal, Series D, 3.10%, 04/13/21		2,020		2,046,126
Bank of Nova Scotia (The)
0.52%, 01/08/21, (3 mo. LIBOR US + 0.290%)^(a)		3,500		3,501,793
0.66%, 04/20/21, (3 mo. LIBOR US + 0.440%)^(a)		2,000		2,003,659
3.13%, 04/20/21		6,021		6,102,404
Banque Federative du Credit Mutuel SA, 1.96%, 07/21/21^(c)		7,000		7,081,490
BNP Paribas SA, 5.00%, 01/15/21		23,900		24,128,245
BNZ International Funding Ltd./London, 2.90%, 02/21/22^(c)		3,700		3,819,686
BPCE SA 0.53%, 02/17/22, (SOFRRATE + 0.440%)^(a)(c)		7,300		7,304,762
2.65%, 02/03/21		1,200		1,207,023
2.75%, 12/02/21		11,945		12,251,688
2.75%, 01/11/23^(c)		4,000		4,191,719
Canadian Imperial Bank of Commerce
0.57%, 02/02/21, (3 mo. LIBOR US + 0.315%)^(a)		13,500		13,508,840
0.96%, 06/16/22, (3 mo. LIBOR US + 0.720%)^(a)		3,480		3,511,019
2.70%, 02/02/21		1,680		1,690,364
Capital One N.A., 2.95%, 07/23/21 (Call 06/23/21)		4,500		4,575,761
Citibank N.A.
0.61%, 02/12/21 (Call 01/12/21), (3 mo. LIBOR US + 0.350%)^(a)		1,000		1,000,660
0.78%, 07/23/21 (Call 06/23/21), (3 mo. LIBOR US + 0.570%)^(a)		2,000		2,005,674
2.85%, 02/12/21 (Call 01/12/21)		6,300		6,332,243
3.17%, 02/19/22 (Call 02/19/21), (3 mo. LIBOR US + 0.530%)^(a)		12,751		12,856,912
Citigroup Inc.
0.96%, 11/04/22 (Call 11/04/21), (SOFRRATE + 0.870%)^(a)		5,000		5,021,016
2.31%, 11/04/22 (Call 11/04/21), (SOFRRATE + 0.867%)^(a)		5,000		5,090,395
2.70%, 03/30/21		4,000		4,039,360
2.75%, 04/25/22 (Call 03/25/22)		5,000		5,159,168
Commonwealth Bank of Australia, 2.20%, 11/09/20^(c)		4,000		4,001,341
Commonwealth Bank of Australia/New York NY, 2.55%, 03/15/21		11,575		11,679,090
Cooperatieve Rabobank UA, 3.88%, 02/08/22		1,925		2,011,336
Cooperatieve Rabobank UA/NY
0.65%, 04/26/21, (3 mo. LIBOR US + 0.430%)^(a)		1,000		1,001,824
2.50%, 01/19/21		4,080		4,100,133
Credit Agricole SA/London, 2.38%, 07/01/21^(c)		5,000		5,066,781
Credit Suisse AG/New York NY 0.54%, 02/04/22, (SOFRRATE + 0.450%)^(a)		16,000		16,014,231
1.00%, 05/05/23		5,000		5,061,767
2.10%, 11/12/21		6,855		6,975,606
2.80%, 04/08/22		6,300		6,520,064
DBS Group Holdings Ltd., 2.85%, 04/16/22^(c)		3,267		3,359,512
DNB Bank ASA
0.86%, 12/02/22, (3 mo. LIBOR US + 0.620%)^(a)(c)		5,000		5,038,738
2.15%, 12/02/22^(c)		9,455		9,785,050
2.38%, 06/02/21^(c)		4,450		4,504,835
Fifth Third Bank NA, 1.80%, 01/30/23 (Call 12/30/22)		4,560		4,689,645
Goldman Sachs Group Inc. (The) 2.35%, 11/15/21 (Call 11/15/20)		7,000		7,004,634
2.60%, 12/27/20		21,300		21,371,925


Security	Par (000)		Value

Banks (continued)
2.88%, 02/25/21 (Call 01/25/21)	$	10,000	$	10,059,165
3.00%, 04/26/22 (Call 04/26/21)		10,000		10,123,200
HSBC Holdings PLC, 3.40%, 03/08/21		5,000		5,051,890
ING Bank NV, 2.05%, 08/15/21^(c)		5,865		5,946,285
JPMorgan Chase & Co.
3.21%, 04/01/23 (Call 04/01/22), (3 mo. LIBOR US + 0.695%)^(a)		4,118		4,278,612
3.51%, 06/18/22 (Call 06/18/21), (3 mo. LIBOR US + 0.610%)^(a)		7,972		8,122,769
KeyBank N.A./Cleveland OH, 3.30%, 02/01/22		2,115		2,191,542
Korea Development Bank (The)
0.62%, 02/18/23, (3 mo. LIBOR US + 0.350%)^(a)		16,455		16,399,199
0.63%, 03/21/22, (SOFRRATE + 0.550%)^(a)(c)		12,500		12,499,992
Lloyds Bank PLC 3.30%, 05/07/21		3,000		3,048,123
6.38%, 01/21/21		3,500		3,545,604
Macquarie Bank Ltd.
0.71%, 11/24/21, (3 mo. LIBOR US + 0.450%)^(a)(c)		26,000		26,101,575
2.10%, 10/17/22^(c)		9,450		9,742,342
Mitsubishi UFJ Financial Group Inc.
2.13%, 03/01/21, (3 mo. LIBOR US + 1.880%)^(a)		3,761		3,783,690
3.54%, 07/26/21		2,500		2,559,838
Morgan Stanley
0.79%, 01/20/23 (Call 01/20/22), (SOFRRATE + 0.700%)^(a)		32,000		32,089,216
0.91%, 06/10/22 (Call 06/10/21), (SOFRRATE + 0.830%)^(a)		5,000		5,013,000
1.61%, 04/21/21, (3 mo. LIBOR US + 1.400%)^(a)		2,000		2,012,332
2.50%, 04/21/21		3,000		3,030,069
MUFG Bank Ltd., 2.85%, 09/08/21^(c)		1,400		1,429,651
MUFG Union Bank N.A., 3.15%, 04/01/22 (Call 03/01/22)		4,000		4,145,190
National Australia Bank Ltd.
0.57%, 01/12/21, (3 mo. LIBOR US + 0.350%)^(a)(c)		2,000		2,001,343
0.66%, 12/13/22, (3 mo. LIBOR US + 0.410%)^(a)(c)		3,500		3,513,799
National Australia Bank Ltd./New York 1.88%, 07/12/21		5,000		5,058,567
1.88%, 12/13/22		4,460		4,598,497
2.50%, 01/12/21		1,000		1,003,920
3.38%, 09/20/21		2,100		2,156,700
3.70%, 11/04/21		3,035		3,133,514
Nordea Bank Abp 1.00%, 06/09/23^(c)		3,135		3,177,552
2.25%, 05/27/21^(c)		4,000		4,044,340
Royal Bank of Canada, 3.20%, 04/30/21		5,000		5,072,383
Santander UK PLC
0.55%, 11/03/20, (3 mo. LIBOR US + 0.300%)^(a)		500		500,000
2.10%, 01/13/23		2,670		2,756,022
2.13%, 11/03/20		19,579		19,579,000
3.40%, 06/01/21		10,391		10,573,778
Skandinaviska Enskilda Banken AB
0.71%, 05/17/21, (3 mo. LIBOR US + 0.430%)^(a)(c)		4,000		4,008,525
0.89%, 12/12/22, (3 mo. LIBOR US + 0.645%)^(a)(c)		3,000		3,027,467
0.97%, 12/01/20, (3 mo. LIBOR US + 0.720%)^(a)(c)		5,000		5,002,408
2.20%, 12/12/22^(c)		2,845		2,949,484
2.63%, 03/15/21		6,000		6,053,432
3.05%, 03/25/22^(c)		3,000		3,108,752
Societe Generale SA 2.50%, 04/08/21^(c)		5,460		5,508,802
5.20%, 04/15/21^(c)		3,571		3,649,767
Sumitomo Mitsui Banking Corp., 3.95%, 01/12/22^(c)		2,000		2,083,016


Security	Par (000)		Value

Banks (continued)
Sumitomo Mitsui Trust Bank Ltd., 0.80%, 09/12/23^(c)	$	22,359	$	22,442,416
Suncorp-Metway Ltd. 2.38%, 11/09/20^(c)		1,250		1,250,440
2.80%, 05/04/22^(c)		895		925,866
Svenska Handelsbanken AB, 0.63%, 06/30/23^(c)		6,310		6,330,190
Swedbank AB 0.60%, 09/25/23^(c)		10,000		9,984,500
1.30%, 06/02/23^(c)		6,680		6,799,219
Truist Bank, 1.25%, 03/09/23 (Call 02/09/23)		15,000		15,278,929
Truist Financial Corp., 2.15%, 02/01/21 (Call 01/01/21)		6,172		6,190,894
U.S. Bank NA/Cincinnati OH, 0.70%, 05/23/22 (Call 04/23/22), (3 mo. LIBOR US + 0.440%)^(a)		4,750		4,774,367
UBS AG/London 1.75%, 04/21/22 (Call 03/21/22)^(c)		6,085		6,194,182
2.45%, 12/01/20 (Call 11/01/20)^(c)		14,200		14,200,740
United Overseas Bank Ltd.,
0.69%, 04/23/21, (3 mo. LIBOR US + 0.480%)^(a)(c)		2,000		1,999,336
Wells Fargo & Co.
1.24%, 07/26/21, (3 mo. LIBOR US + 1.025%)^(a)		1,750		1,761,323
1.59%, 03/04/21, (3 mo. LIBOR US + 1.340%)^(a)		5,000		5,022,344
2.10%, 07/26/21		2,000		2,026,165
2.50%, 03/04/21		2,200		2,216,522
Wells Fargo Bank N.A.
0.55%, 01/15/21, (3 mo. LIBOR US + 0.310%)^(a)		2,000		2,001,112
0.73%, 10/22/21 (Call 09/21/21),
(3 mo. LIBOR US + 0.510%)^(a)		2,000		2,007,985
0.90%, 09/09/22 (Call 09/09/21),
(3 mo. LIBOR US + 0.660%)^(a)		15,000		15,066,750
Westpac Banking Corp. 2.00%, 08/19/21		7,245		7,344,003
2.00%, 01/13/23		2,375		2,458,150
2.60%, 11/23/20		11,160		11,174,860

				772,499,916

Beverages — 0.0%
PepsiCo Inc., 0.75%, 05/01/23		1,615		1,631,189


Biotechnology — 0.5%
Gilead Sciences Inc.
0.37%, 09/17/21, (3 mo. LIBOR US + 0.150%)^(a)		14,100		14,108,387
0.75%, 09/29/23 (Call 09/29/21)		10,295		10,319,257

				24,427,644

Chemicals — 0.1%
Air Liquide Finance SA, 1.75%, 09/27/21 (Call 08/27/21)^(c)		3,000		3,036,394


Computers — 0.3%
International Business Machines Corp.,
0.65%, 05/13/21, (3 mo. LIBOR US + 0.400%)^(a)		14,000		14,026,558


Diversified Financial Services — 0.3%
American Express Co., 3.00%, 02/22/21 (Call 01/22/21)		3,200		3,219,432
American Express Credit Corp., 2.25%, 05/05/21 (Call 04/05/21)		10,858		10,948,409

				14,167,841

Electric — 2.7%
American Electric Power Co. Inc., 2.15%, 11/13/20		1,800		1,800,928
Dominion Energy Inc., Series D, 0.78%, 09/15/23 (Call 09/15/21), (3 mo. LIBOR US + 0.530%)^(a)		30,560		30,636,732
Duke Energy Progress LLC, Series A, 0.43%, 02/18/22 (Call 02/18/21), (3 mo. LIBOR US + 0.180%)^(a)		10,000		10,001,817


Security	Par (000)		Value

Electric (continued)
Florida Power & Light Co., 0.60%, 07/28/23 (Call 01/28/21), (3 mo. LIBOR US + 0.380%)^(a)	$	11,470	$	11,475,425
NextEra Energy Capital Holdings Inc.
0.73%, 05/04/21, (3 mo. LIBOR US + 0.480%)^(a)		39,250		39,322,612
2.40%, 09/01/21		5,925		6,026,604
2.90%, 04/01/22		2,260		2,337,440
PPL Electric Utilities Corp., 0.48%, 09/28/23 (Call 09/28/22), (3 mo. LIBOR US + 0.250%)^(a)		8,710		8,714,352
WEC Energy Group Inc., 0.55%, 09/15/23		16,705		16,754,101
Xcel Energy Inc., 0.50%, 10/15/23 (Call 09/15/23)		7,560		7,563,683

				134,633,694

Electronics — 0.7%
Honeywell International Inc. 0.48%, 08/19/22 (Call 08/19/21)		23,330		23,365,209
0.50%, 08/19/22 (Call 08/19/21), (3 mo. LIBOR US + 0.230%)^(a)		10,460		10,473,477
Roper Technologies Inc., 0.45%, 08/15/22		2,390		2,393,913

				36,232,599

Insurance — 2.2%
Jackson National Life Global Funding, 0.69%, 01/06/23, (SOFRRATE + 0.600%)^(a)(c)		26,000		26,051,158
MassMutual Global Funding II 0.85%, 06/09/23^(c)		8,328		8,407,957
2.00%, 04/15/21^(c)		6,900		6,955,527
MET Tower Global Funding, 0.63%, 01/17/23, (SOFRRATE + 0.550%)^(a)(c)		22,000		22,098,206
Metropolitan Life Global Funding I 0.43%, 09/08/22, (SOFRRATE + 0.350%)^(a)(c)		23,000		23,029,973
0.65%, 01/13/23, (SOFRRATE + 0.570%)^(a)(c)		16,460		16,527,980
Protective Life Global Funding, 0.63%, 10/13/23^(c)		4,820		4,828,380

				107,899,181

Machinery — 1.2%
Caterpillar Financial Services Corp.
0.45%, 01/06/22, (3 mo. LIBOR US + 0.220%)^(a)		2,085		2,087,382
0.46%, 11/12/21, (3 mo. LIBOR US + 0.200%)^(a)		7,000		7,010,591
0.48%, 03/15/21, (3 mo. LIBOR US + 0.230%)^(a)		1,000		1,000,878
0.55%, 03/08/21, (3 mo. LIBOR US + 0.300%)^(a)		7,000		7,007,461
0.95%, 05/13/22		12,000		12,108,566
0.99%, 05/13/22, (3 mo. LIBOR US + 0.735%)^(a)		5,000		5,052,928
2.90%, 03/15/21		1,500		1,514,597
Series I, 2.65%, 05/17/21		8,810		8,923,273
John Deere Capital Corp.
0.49%, 03/12/21, (3 mo. LIBOR US + 0.240%)^(a)		1,000		1,000,787
0.55%, 07/05/22		11,060		11,109,403

				56,815,866

Manufacturing — 0.0%
3M Co., 3.00%, 09/14/21 (Call 08/14/21)		1,075		1,098,993


Media — 0.1%
Walt Disney Co. (The), 0.50%, 09/01/21, (3 mo. LIBOR US + 0.250%)^(a)		4,320		4,327,561


Oil & Gas — 1.0%
BP Capital Markets PLC, 0.51%, 11/24/20, (3 mo. LIBOR US + 0.250%)^(a)		10,000		10,002,100
Chevron Corp., 1.14%, 05/11/23		4,510		4,590,007
Chevron USA Inc., 0.46%, 08/11/23, (3 mo. LIBOR US + 0.200%)^(a)		37,065		37,108,711

				51,700,818


Security	Par (000)		Value

Oil & Gas Services — 0.0%
Schlumberger Finance Canada Ltd., 2.65%, 11/20/22 (Call 10/20/22)^(c)	$	2,500	$	2,583,917


Pharmaceuticals — 1.8%
AbbVie Inc.
0.60%, 05/21/21, (3 mo. LIBOR US + 0.350%)^(a)(c)		9,000		9,008,775
2.15%, 11/19/21^(c)		13,000		13,233,685
2.30%, 05/14/21 (Call 04/14/21)		27,593		27,831,284
3.45%, 03/15/22 (Call 01/15/22)^(c)		5,442		5,633,937
5.00%, 12/15/21 (Call 09/16/21)^(c)		7,000		7,267,828
AstraZeneca PLC, 2.38%, 11/16/20		4,200		4,203,402
Bristol-Myers Squibb Co., 2.55%, 05/14/21		8,000		8,097,436
Merck & Co. Inc., 2.35%, 02/10/22		1,998		2,052,706
Pfizer Inc., 3.00%, 09/15/21		1,670		1,709,805
Sanofi, 4.00%, 03/29/21		8,000		8,122,240

				87,161,098

Pipelines — 0.4%
Enterprise Products Operating LLC 2.80%, 02/15/21		4,000		4,029,730
2.85%, 04/15/21 (Call 03/15/21)		5,716		5,766,276
3.50%, 02/01/22		7,565		7,849,981

				17,645,987

Savings & Loans — 0.2%
Nationwide Building Society, 2.00%, 01/27/23^(c)		10,890		11,212,671


Semiconductors — 0.2%
Lam Research Corp., 2.80%, 06/15/21 (Call 05/15/21)		9,905		10,037,587


Software — 0.2%
Adobe Inc., 1.70%, 02/01/23		4,010		4,129,424
Oracle Corp., 1.90%, 09/15/21 (Call 08/15/21)		5,000		5,062,777

				9,192,201

Telecommunications — 0.4%
Rogers Communications Inc., 0.83%, 03/22/22, (3 mo. LIBOR US + 0.600%)^(a)		18,675		18,780,775


Transportation — 0.2%
Ryder System Inc. 2.25%, 09/01/21 (Call 08/01/21)		4,186		4,241,123
2.88%, 06/01/22 (Call 05/01/22)		4,899		5,065,859

				9,306,982


Total Corporate Bonds & Notes — 32.8% (Cost: $1,605,930,007)				1,615,350,881


Municipal Debt Obligations

California — 0.5%
California Health Facilities Financing Authority RB, 0.42%, 06/01/22		2,400		2,399,640
Los Angeles Unified School District GO, 1.35%, 01/01/21		7,245		7,256,592
Mizuho Floater/Residual Trust RB, 0.55%, 09/01/27^(a)(c)(d)		11,000		11,000,000
Ventura County Public Financing Authority RB, 0.60%, 11/01/20		1,420		1,420,000

				22,076,232

Connecticut — 0.0%
State of Connecticut GO, Series A, 3.00%, 07/01/21		1,800		1,829,016


Security	Par (000)		Value

Hawaii — 0.2%
State of Hawaii GO 0.43%, 10/01/22	$	4,945	$	4,952,368
0.57%, 10/01/23		3,800		3,807,372

				8,759,740

Illinois — 0.1%
Taxable Municipal Funding Trust RB, 0.20%, 11/01/38 ( 08/29/21)^(a)(c)(d)		2,600		2,600,000


Michigan — 0.0%
Michigan Finance Authority RB, 2.03%, 12/01/20		450		450,553


Minnesota — 0.2%
Taxable Municipal Funding Trust RB, 0.50%, 09/01/30 ( 05/01/25)^(a)(c)(d)		9,770		9,770,000


New York — 1.6%
City of New York NY GO 0.31%, 08/01/21		13,350		13,329,441
0.40%, 11/01/21		4,990		4,982,864
Long Island Power Authority RB 0.66%, 03/01/22 ( 06/01/21)		665		665,532
0.76%, 03/01/23 ( 06/01/22)		1,290		1,291,290
Mizuho Floater/Residual Trust RB
VRDN, 0.55%, 02/01/23 ( 01/01/21)^(a)(c)(d)		13,000		13,000,000
VRDN, 0.55%, 07/01/25 ^(a)(c)(d)		6,700		6,700,000
VRDN, 0.55%, 03/01/31 ^(a)(c)(d)		18,000		18,000,000
VRDN, 0.55%, 03/01/31 ^(a)(c)(d)		9,405		9,405,000
Port Authority of New York & New Jersey RB, Series AAA, 1.09%, 07/01/23		12,570		12,699,346

				80,073,473

Texas — 0.0%
City of Houston Texas Airport System Revenue RB, 0.88%, 07/01/22		690		690,338


Total Municipal Debt Obligations — 2.6% (Cost $126,118,090)				126,249,352


Repurchase Agreements^(a)(e)

Bank of America Securities Inc., 0.78%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $7,000,455, collateralized by non-agency mortgage-backed security, 3.00%, due 10/25/58, par and fair value of $12,747,502 and $8,400,000, respectively)		7,000		7,000,000
Citigroup Global Markets Inc., 0.52%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $9,000,390, collateralized by non-agency mortgage-backed security, 3.70% to 7.31%, due 03/01/40 to 03/01/57, par and fair value of $9,693,241 and $9,450,000, respectively)		9,000		9,000,000
Citigroup Global Markets Inc., 2.49%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $12,000,560, collateralized by non-agency mortgage-backed security, 2.33% to 7.31%, due 06/01/30 to 03/01/57, par and fair value of $11,646,273 and $12,600,000, respectively)		12,000		12,000,000
Credit Suisse Securities (USA) LLC, 0.77%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $25,001,604, collateralized by non-agency mortgage-backed security, 0.69% to 6.49%, due 08/25/33 to 05/25/60, par and fair value of $233,411,972 and $28,750,000, respectively)		25,000		25,000,000


Security	Par (000)		Value

Mizuho Securities USA Inc., 0.70%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $6,000,350, collateralized by U.S. Treasury Obligation, 2.38%, due 05/15/29, par and fair value of $5,339,700 and $6,120,110, respectively)	$	6,000	$	6,000,000
Mizuho Securities USA Inc., 0.76%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $11,000,697, collateralized by U.S. Treasury Obligation, 2.88% to 7.25%, due 08/15/22 to 11/30/25, par and fair value of $9,851,400 and $11,220,070, respectively)		11,000		11,000,000
Mizuho Securities USA Inc., 1.12%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $25,002,333, collateralized by non-agency mortgage-backed security, 0.20% to 6.30%, due 05/15/29 to 10/25/36, par and fair value of $399,824,629 and $28,154,439, respectively)		25,000		25,000,000
Wells Fargo Securities, 0.43%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $4,000,143, collateralized by non-agency mortgage-backed security, 1.37% to 2.02%, due 07/15/29 to 10/20/31, par and fair value of $4,165,300 and $4,200,001, respectively)		4,000		4,000,000
Wells Fargo Securities, 0.43%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $4,000,143, collateralized by non-agency mortgage-backed security, 4.40% to 8.30%, due 01/25/29 to 07/26/49, par and fair value of $6,561,554 and $4,800,001, respectively)		4,000		4,000,000
Wells Fargo Securities, 0.45%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $10,000,375, collateralized by non-agency mortgage-backed security, 0.34% to 2.63%, due 09/16/22 to 01/16/24, par and fair value of $9,807,283 and $10,200,000, respectively)		10,000		10,000,000
Wells Fargo Securities, 0.58%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $24,001,160, collateralized by non-agency mortgage-backed security, 0.00% to 5.15%, due 01/15/25 to 06/15/37, par and fair value of $41,957,286 and $27,600,000, respectively)		24,000		24,000,000
Wells Fargo Securities, 0.60%, 11/02/20 (Purchased on 10/30/20 to be repurchased at $15,000,750, collateralized by non-agency mortgage-backed security, 0.00% to 5.85%, due 02/28/24 to 05/15/48, par and fair value of $38,682,386 and $17,250,000, respectively)		15,000		15,000,000


Total Repurchase Agreements — 3.1% (Cost: $152,000,000)				152,000,000


U.S. Government Agency Obligations

U.S. Government Agency Obligations — 0.5%
Federal Home Loan Mortgage Corp., 0.40%, 08/18/23		25,000		25,012,649


Total U.S. Government Agency Obligations — 0.5% (Cost: $25,000,000)				25,012,649


Security	Shares (000)		Value

Money Market Funds

BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(f)(g)		53,040	$	53,040,000


Total Money Market Funds — 1.1% (Cost: $53,040,000)				53,040,000


Total Investments in Securities — 100.1% (Cost: $4,914,107,764)				4,925,478,908

Other Assets, Less Liabilities — (0.1)%				(2,753,325	)


Net Assets — 100.0%			$	4,922,725,583

^(a)	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.

iShares U.S. ETF 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 (the “trade dates”). 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.

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

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

Foreign Taxes: The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its statement of operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as “Other foreign taxes”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of October 31, 2020, if any, are disclosed in the statement of assets and liabilities.

Segregation and Collateralization: In cases where a Fund enters into certain investments (e.g., forward foreign currency exchange contracts) that would be treated as “senior securities” for 1940 Act purposes, a Fund may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, if required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments or obligations.

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.

Recent Accounting Standards: The Funds have adopted Financial Accounting Standards Board Accounting Standards Update 2017-08 to amend the amortization period for certain purchased callable debt securities held at a premium. Under the new standard, the Funds have changed the amortization period for the premium on certain purchased callable debt securities with non-contingent call features to the earliest call date. In accordance with the transition provisions of the standard, the Funds applied

the amendments on a modified retrospective basis beginning with the fiscal period ended October 31, 2020. The adjusted cost basis of securities at October 31, 2019 are as follows:

This change in accounting policy has been made to comply with the newly issued accounting standard and had no impact on accumulated earnings (loss) or the net asset value of the Funds.

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. A fund determines the fair value 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., a market closure, 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 the 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 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:

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.

Repurchase Agreements: Repurchase agreements are commitments to purchase a security from a counterparty who agrees to repurchase the same security at a mutually agreed upon date and price. On a daily basis, the counterparty is required to maintain collateral subject to the agreement and in value no less than the agreed upon repurchase amount. Repurchase agreements may be traded bilaterally, in a tri-party arrangement or may be centrally cleared through a sponsoring agent. Subject to the custodial undertaking associated with a tri-party repurchase arrangement and for centrally cleared agreements, a third party custodian maintains accounts to hold collateral for a fund and its counterparties. Typically, a fund and counterparty are not permitted to sell, re-pledge or use the collateral absent a default by the counterparty or the fund. In the event the counterparty defaults and the fair value of the collateral declines, a fund could experience losses, delays and costs in liquidating the collateral.

Repurchase agreements are entered into by a fund under Master Repurchase Agreements (each, an “MRA”). The MRA permits the fund, under certain circumstances including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables with collateral held by and/or posted to the counterparty. As a result, one single net payment is created. Bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of the MRA counterparty’s bankruptcy or insolvency. Based on the terms of the MRA, the fund receives securities as collateral with a market value in excess of the repurchase price at maturity. Upon a bankruptcy or insolvency of the MRA counterparty, the fund would recognize a liability with respect to such excess collateral. The liability reflects the fund’s obligation under bankruptcy law to return the excess to the counterparty.

The following table summarizes the open repurchase agreements as of October 31, 2020 which are subject to offset under an MRA:

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 October 31, 2020, any securities on loan were collateralized by cash and/or U.S. government obligations. Cash collateral received was invested in money market funds managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates and is disclosed in the schedules 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 for each Fund, if any, are also disclosed in its schedule of investments. The market value of any securities on loan as of October 31, 2020 and the value of the related cash collateral are disclosed in the statements of assets and liabilities.

Securities lending transactions are entered into by a fund 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 fund, as lender, would offset the market value of the collateral received against the market value of the securities loaned. The value of the collateral is typically greater than the market value of the securities loaned, leaving the lender 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 fund can reinvest cash collateral received in connection with loaned securities.

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 as of October 31, 2020:

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.

Forward Foreign Currency Exchange Contracts: Forward foreign currency exchange contracts are entered into to gain or reduce exposure to foreign currencies (foreign currency exchange rate risk).

A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency at a set exchange rate on a specified date. These contracts help to manage the overall exposure to the currencies in which some of the investments held by the Funds are denominated and in some cases, may be used to obtain exposure to a particular market. The contracts are traded over-the-counter (“OTC”) and not on an organized exchange.

The contract is marked-to-market daily and the change in market value is recorded as unrealized appreciation or depreciation in the statement of assets and liabilities. When the contract is closed, a realized gain or loss is recorded in the statement of operations equal to the difference between the value at the time it was opened and the value at the time it was closed. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. The use of forward foreign currency exchange contracts involves the risk that the value of a contract changes unfavorably due to movements in the value of the referenced foreign currencies, and such value may exceed the amount(s) reflected in the statement of assets and liabilities. Cash amounts pledged for forward foreign currency exchange contracts are considered restricted and are included in cash pledged as collateral for OTC derivatives in the statement of assets and liabilities. A Fund’s risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Fund.

Master Netting Arrangements: In order to define its contractual rights and to secure rights that will help mitigate its counterparty risk, a Fund may enter into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency, or other events.

For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such agreement, and comparing that amount to the value of any collateral currently pledged by a fund and the counterparty.

Cash collateral that has been pledged to cover obligations of the Funds and cash collateral received from the counterparty, if any, is reported separately in the Statements of Assets and Liabilities as cash pledged as collateral and cash received as collateral, respectively. Non-cash collateral pledged by the Funds, if any, is noted in the Schedules of Investments. Generally, the amount of collateral due from or to a counterparty is subject to a certain minimum transfer amount threshold before a transfer is required, which is determined at the close of business of the Funds. Any additional required collateral is delivered to/pledged by the Funds on the next business day. Typically, the counterparty is not permitted to sell, re-pledge or use cash and non-cash collateral it receives. A Fund generally agrees not to use non-cash collateral that it receives but may, absent default or certain other circumstances defined in the underlying ISDA Master Agreement, be permitted to use cash collateral received. In such cases, interest may be paid pursuant to the collateral arrangement with the counterparty. To the extent amounts due to the Funds from the counterparty are not fully collateralized, each Fund bears the risk of loss from counterparty non-performance. Likewise, to the extent the Funds have delivered collateral to a counterparty and stand ready to perform under the terms of their agreement with such counterparty, each Fund bears the risk of loss from a counterparty in the amount of the value of the collateral in the event the counterparty fails to return such collateral. Based on the terms of agreements, collateral may not be required for all derivative contracts.

For financial reporting purposes, each Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements, if any, in the statement of assets and liabilities.

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:

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. 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 statement of operations. For the year ended October 31, 2020, the Funds paid BTC the following amounts for securities lending agent services:

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

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

For the year ended October 31, 2020, 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 statement of operations.

For the year ended October 31, 2020, 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 October 31, 2020, 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, 2020, the tax components of accumulated net earnings (losses) were as follows:

For the year ended October 31, 2020, the iShares Short Maturity Municipal Bond ETF utilized $10,889 of its capital loss carryforwards.

As of October 31, 2020, 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.

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.

Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.

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. The duration of this pandemic and its effects cannot be determined with certainty.

Valuation Risk: 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 statement of assets and liabilities, less any collateral held by the Funds.

A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.

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.

Certain 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.

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 statement of assets and liabilities.

On June 16, 2016, investors in certain iShares funds (iShares Core S&P Small-Cap ETF, iShares Russell 1000 Growth ETF, iShares Core S&P 500 ETF, iShares Russell Mid-Cap Growth ETF, iShares Russell Mid-Cap ETF, iShares Russell Mid-Cap Value ETF, iShares Select Dividend ETF, iShares Morningstar Mid-Cap ETF, iShares Morningstar Large-Cap ETF, iShares U.S. Aerospace & Defense ETF and iShares Preferred and Income Securities ETF) filed a class action lawsuit against iShares Trust, BlackRock, Inc. and certain of its advisory affiliates, and certain directors/trustees and officers of the Funds (collectively, “Defendants”) in California State Court. The lawsuit alleges the Defendants violated federal securities laws by failing to adequately disclose in the prospectuses issued by the funds noted above the risks of using stop-loss orders in the event of a ‘flash crash’, such as the one that occurred on May 6, 2010. On September 18, 2017, the court issued a Statement of Decision holding that the Plaintiffs lack standing to assert their claims. On October 11, 2017, the court entered final judgment dismissing all of the Plaintiffs’ claims with prejudice. In an opinion dated January 23, 2020, the California Court of Appeal affirmed the dismissal of Plaintiffs’ claims. On March 3, 2020, plaintiffs filed a petition for review by the California Supreme Court. On May 27, 2020, the California Supreme Court denied Plaintiff’s petition for review. The case is now closed.

Management’s evaluation of the impact of all subsequent events on the Funds’ financial statements was completed through the date the financial statements were available to be issued and the following items were noted:

Name Change: Effective December 2, 2020, iShares Short Maturity Bond ETF, iShares Short Maturity Municipal Bond ETF and iShares Ultra Short-Term Bond ETF changed their names to BlackRock Short Maturity Bond ETF, BlackRock Short Maturity Municipal Bond ETF and BlackRock Ultra Short-Term Bond ETF, respectively.

BlackRock Short Maturity Municipal Bond ETF and BlackRock Ultra Short-Term Bond ETF

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares Short Maturity Bond ETF, iShares Short Maturity Municipal Bond ETF and iShares Ultra Short-Term Bond ETF (three of the funds constituting iShares U.S. ETF Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2020, the related statements of operations for the year ended October 31, 2020, the statements of changes in net assets for each of the two years in the period ended October 31, 2020, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2020, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2020 and each of the financial highlights for each of the five years in the period ended October 31, 2020 in conformity with accounting principles generally accepted in the United States of America.

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

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2020 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

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

For the fiscal year ended October 31, 2020, the Funds hereby designate the following maximum amounts allowable as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations:

The Funds hereby designate the following amounts of distributions from direct federal obligation interest for the fiscal year ended October 31, 2020:

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

The Fund hereby designates the following amount of distributions from net investment income as exempt-interest dividends for the fiscal year ended October 31, 2020:

Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940Act) (the “Independent Board Members), is required annually to consider and approve the Investment Advisory Contract between the Trust and BFA (the “Advisory Contract”) whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Contract. At meetings on April 17, 2020 and May 19, 2020, a committee composed of all of the Independent Board Members (the “15(c) Committee”),with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 8-10, 2020, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

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

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

The Board noted that the Fund is an actively managed ETF that does not seek to track the performance of a specified index and that the management team for the Fund manages the Fund’s portfolio in accordance with its investment objective. The Board further noted that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its reference benchmark. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with expectations relative to the Fund’s peer group (where applicable) and reference benchmark.

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

Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent and proposed enhancements to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Contract for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, which were provided at the June 8-10, 2020 meeting and throughout the year.

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

that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).

Based on this review, the Board concluded that the profits realized by BFA and its affiliates under the Advisory Contract and from other relationships between the Fund and BFA and/or its affiliates, if any, were within a reasonable range in light of the factors and other information considered.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Contract for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board would continue to assess the appropriateness of adding breakpoints in the future.

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

Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates manage Other Accounts with a similar investment strategy or investment mandate as the Fund. The Board further noted that BFA provided the Board with detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate. The Board also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board noted that the investment advisory fee rate under the Advisory Contract for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, such as payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board further noted that any portfolio transactions on behalf of the Fund placed through a BFA affiliate or purchased from an underwriting syndicate in which a BFA affiliate participates (including associated commissions) are reported to the Board pursuant to Rule 17e-1 or Rule 10f-3, as applicable, under the 1940 Act. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Contract for the coming year.

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

iShares Short Maturity Municipal Bond ETF, iShares Ultra Short-Term Bond ETF (each the “Fund”)

Advisory Contract. At meetings on April 17, 2020 and May 19, 2020, a committee composed of all of the Independent Board Members (the “15(c) Committee”),with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 8-10, 2020, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.

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

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

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

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

The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. The President, Chief Compliance Officer, Treasurer and Secretary shall each hold office until their successors are chosen and qualify, and all other officers shall hold office until he or she resigns or is removed. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).

The registered investment companies advised by BFAor its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the BlackRock Fund Complex referred to as the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares Trust, and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 374 funds as of October 31, 2020. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated Cecilia H. Herbert as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

Shareholders can sign up for email 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 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 iShares 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 its reports on Form N-PORT. The iShares Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. The iShares Funds also disclose their complete schedule of portfolio holdings on a daily basis on the iShares website at iShares.com.

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 Company’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 Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of October 31, 2020

	6-Month	12-Month

U.S. large cap equities (S&P 500^® Index)	13.29%	9.71%

U.S. small cap equities (Russell 2000^® Index)	18.13	(0.14)

International equities (MSCI Europe, Australasia, Far East Index)	8.57	(6.86)

Emerging market equities (MSCI Emerging Markets Index)	20.96	8.25

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.06	0.92

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(1.63)	8.92

U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)	1.27	6.19

Tax-exempt municipal bonds (S&P Municipal Bond Index)	4.87	3.55

U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)	10.73	3.42

Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares Inflation Hedged Corporate Bond ETF (the “Fund”) seeks to mitigate the inflation risk of a portfolio composed of U.S. dollar-denominated, investment- grade corporate bonds. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares iBoxx $ Investment Grade Corporate Bond ETF. The Fund attempts to mitigate the inflation risk of the underlying fund by holding inflation swaps.

The inception date of the Fund was 5/8/18. The first day of secondary market trading was 5/10/18.

The Markit iBoxx^® USD Liquid Investment Grade Inflation Hedged Index is an unmanaged index that is designed to reflect the inflation hedged performance of U.S. dollar-denominated investment-grade corporate debt.

The Fund posted a notable return for the reporting period. The benefit from the inflation hedge was negligible, so the Fund’s return was in line with unhedged market performance. Bond purchases by the Fed, which for the first time included buying individual corporate bonds, reduced yields on investment-grade corporate debt to historic lows amid the coronavirus pandemic.

On an unhedged basis, bank bonds were the most significant contributors to the Fund’s performance. Substantial investor demand for banks’ bonds was partly due to investors’ assessment that banks would benefit as the economy recovered. This confidence grew out of stronger balance sheets over the last decade and limited prospects of bank credit rating downgrades. Despite a significant increase in bond issuance by banks, investor demand remained robust.

Bonds of consumer non-cyclical companies also advanced, as their yields declined relative to consumer cyclical bonds during the pandemic-related recession. In the pharmaceuticals industry, brisk investor demand led to low yields, even amid an increase in bond issuance. Communications companies’ bonds also contributed to the Fund’s return, as demand remained solid at a time when increased numbers of people working at home benefited network owners. Technology industry bonds were contributors as well, as low yields induced companies with large cash reserves to issue new bonds, partly to fund stock buybacks.

The inflation hedge contributed significant volatility to the Index’s performance, as inflation expectations and corporate credit risk rapidly changed amid the uncertainty of the pandemic. The inflation hedge was executed with long-term Consumer Price Index swaps and adjusted with inflation expectations. Inflation expectations varied markedly, declining sharply with the pandemic and rising after monetary and fiscal policy responses, but expectations ultimately finished the reporting period at a level similar to the beginning of the reporting period.

The inflation hedge’s performance throughout the entire reporting period reflected relatively large shifts in inflation sentiment and market liquidity. In addition, the net performance for the reporting period reflected the return of investment-grade corporate bonds and relatively unchanged year-over-year inflation expectations.

ALLOCATION BY CREDIT QUALITY (of the UNDERLYING FUND)


Credit Rating^(a)	Percent of Total Investment^(b)
Aaa		2.1	%
Aa		7.7
A		42.9
Baa		44.6
Ba		2.2
Not Rated		0.5

^(a)

Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change.

^(b)

Excludes money market funds.

The iShares Interest Rate Hedged Corporate Bond ETF (the “Fund”) seeks to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, investment-grade corporate bonds. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares iBoxx $ Investment Grade Corporate Bond ETF. The Fund attempts to mitigate the interest rate risk of the underlying fund by holding short positions in U.S. Treasury futures or interest rate swaps.

The inception date of the Fund was 5/27/14. The first day of secondary market trading was 5/28/14.

The Markit iBoxx^® USD Liquid Investment Grade Interest Rate Hedged Swaps Index is an unmanaged index that is designed to reflect the duration hedged performance of U.S. dollar-denominated investment-grade corporate debt.

The Markit iBoxx^® USD Liquid Investment Grade Interest Rate Hedged Swaps Index reflects the performance of the Markit iBoxx USD Liquid Investment Grade Interest Rate Hedged Index through June 16, 2016 and beginning June 17, 2016 reflects the performance of the Markit iBoxx^® USD Liquid Investment Grade Interest Rate Hedged Swaps Index.

The Fund posted a slight gain for the reporting period despite the substantial negative impact of the interest rate hedge. Bond purchases by the Fed, which for the first time included buying individual corporate bonds, reduced yields on investment-grade corporate debt to historic lows amid the coronavirus pandemic.

Declining interest rates during the reporting period led to negative performance from hedging activity, which was the largest detractor from the Fund’s return. Typically, increasing interest rates reduce the price of existing bonds, meaning a rise in interest rates detracts from bond fund performance. Conversely, decreasing interest rates usually increase bond prices. An interest rate hedged fund attempts to avoid these fluctuations by offsetting interest rate risk, primarily using interest rate swaps and U.S. Treasury futures contracts.

The Fund’s interest rate hedge seeks near-zero interest rate sensitivity. Consequently, the Fund’s return was minimally affected by interest rate fluctuations during the reporting period. With interest rate sensitivity hedged, the Fund fluctuated based on direct exposure to the yield premium of investment-grade corporate bonds, independent of declining interest rates.

ALLOCATION BY CREDIT QUALITY (of the UNDERLYING FUND)


Credit Rating^(a)	Percent of Total Investment^(b)
Aaa		2.1	%
Aa		7.7
A		42.9
Baa		44.6
Ba		2.2
Not Rated		0.5

^(a)

^(b)

Excludes money market funds.

The iShares Interest Rate Hedged HighYield Bond ETF (the “Fund”) seeks to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, high yield corporate bonds. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares iBoxx $ High Yield Corporate Bond ETF. The Fund attempts to mitigate the interest rate risk of the underlying fund by holding short positions in U.S. Treasury futures or interest rate swaps.

The inception date of the Fund was 5/27/14. The first day of secondary market trading was 5/28/14.

The Markit iBoxx^® USD Liquid High Yield Interest Rate Hedged Swaps Index is an unmanaged index that reflects the duration hedged performance of U.S. dollar-denominated high yield corporate debt.

The Fund posted a slight decline for the reporting period due to the negative impact of the interest rate hedge. The underlying high-yield bonds advanced modestly, as central banks deployed significant monetary stimulus measures to reduce the economic effect of the coronavirus and pandemic-related restrictions.

On an unhedged basis, bonds issued by U.S. companies contributed a substantial majority of the Fund’s return. High-yield credit spreads, the differences in yields between high-yield bonds and U.S. Treasuries, rose slightly during the reporting period amid high market volatility. In early 2020, credit spreads increased to the highest levels since the 2008 financial crisis, as investors sold other assets to raise cash in response to the coronavirus. High-yield spreads declined as central banks’ interest rate reductions and bond purchases restored liquidity to the markets, but they remained above pre-pandemic levels.

High-yield corporate bonds issued by companies in the consumer non-cyclical industry contributed the most to the Fund’s performance, partly due to the lower vulnerability of healthcare and pharmaceuticals companies to coronavirus-related economic disruptions. The consumer cyclical industry also contributed, as Fed purchases helped automotive bonds. On the downside, high-yield bonds of energy companies detracted from the Fund’s return amid rising defaults and bankruptcies in the oil industry.

The Fund’s interest rate hedge seeks near-zero interest rate sensitivity. Consequently, the Fund’s return was minimally affected by interest rate fluctuations during the reporting period. With interest rate sensitivity hedged, the Fund fluctuated based on direct exposure to the yield premium of high-yield corporate bonds, independent of declining interest rates.

ALLOCATION BY CREDIT QUALITY (of the UNDERLYING FUND)


Credit Rating^(a)	Percent of Total Investment^(b)
Baa		2.4	%
Ba		48.8
B		36.7
Caa		10.5
Ca		0.4
C		0.1
Not Rated		1.1

^(a)

^(b)

Excludes money market funds.


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 91.6%
iShares iBoxx $ Investment Grade Corporate Bond ETF^(a)(b)		123,109	$	16,463,367


Total Investment Companies — 91.6% (Cost: $15,608,849)				16,463,367


Short-Term Investments

Money Market Funds — 48.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(a)(c)(d)		8,303,851		8,309,664
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(a)(c)		330,000		330,000

				8,639,664


Total Short-Term Investments — 48.0% (Cost: $8,640,494)				8,639,664


Total Investments in Securities — 139.6% (Cost: $24,249,343)				25,103,031

Other Assets, Less Liabilities — (39.6)%				(7,124,215	)


Net Assets — 100.0%			$	17,978,816

Balances Reported in the Statements of Assets and Liabilities for Centrally Cleared Swaps

As of October 31, 2020, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2020, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 98.9%
iShares iBoxx $ Investment Grade Corporate Bond ETF^(a)(b)(c)		3,327,931	$	445,044,213


Total Investment Companies — 98.9% (Cost: $438,779,428)				445,044,213


Short-Term Investments

Money Market Funds — 41.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(a)(d)(e)		173,178,679		173,299,904
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(a)(d)		11,240,000		11,240,000

				184,539,904


Total Short-Term Investments — 41.0% (Cost: $184,557,222)				184,539,904


Total Investments in Securities — 139.9% (Cost: $623,336,650)				629,584,117

Other Assets, Less Liabilities — (39.9)%				(179,580,465	)


Net Assets — 100.0%			$	450,003,652

Balances Reported in the Statements of Assets and Liabilities for Centrally Cleared Swaps

As of October 31, 2020, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2020, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


Security	Shares		Value


Investment Companies

Exchange-Traded Funds — 96.9%
iShares iBoxx $ High Yield Corporate Bond ETF^(a)(b)		720,185	$	60,409,118


Total Investment Companies — 96.9% (Cost: $63,508,265)				60,409,118


Short-Term Investments

Money Market Funds — 52.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(a)(c)(d)		31,835,548		31,857,833
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(a)(c)		550,000		550,000

				32,407,833


Total Short-Term Investments — 52.0% (Cost: $32,411,016)				32,407,833


Total Investments in Securities — 148.9% (Cost: $95,919,281)				92,816,951

Other Assets, Less Liabilities — (48.9)%				(30,491,796	)


Net Assets — 100.0%			$	62,325,155

Balances Reported in the Statements of Assets and Liabilities for Centrally Cleared Swaps

As of October 31, 2020, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2020, the effect of derivative financial instruments in the Statements of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

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

Currently each Fund seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an “underlying fund”). The financial statements and schedules of investments for the underlying funds are included elsewhere in this report and should be read in conjunction with the Funds’ financial statements.

Segregation and Collateralization: In cases where a Fund enters into certain investments (e.g., futures contracts and swaps) that would be treated as “senior securities” for 1940 Act purposes, a Fund may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, if required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments or obligations.

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

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 judgement 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.

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 as of October 31, 2020:

Futures Contracts: U.S. Treasury futures are used by the iShares Inflation Hedged Corporate Bond ETF to mitigate the potential impact of interest rates on the performance of the bonds held by the Fund or its underlying fund. Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).

Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained at an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the statement of assets and liabilities.

Securities deposited as initial margin are designated in the schedule of investments and cash deposited, if any, are shown as cash pledged for futures contracts in the statement of assets and liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the statement of assets and liabilities. When the contract is closed, a realized gain or loss is recorded in the statement of operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest, foreign currency exchange rates or underlying assets.

In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (“CCP”) and the CCP becomes the Funds’ counterparty on the swap. Each Fund is required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, each Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are designated on the schedule of investments and cash deposited is shown as cash pledged for centrally cleared swaps on the statement of assets and liabilities. Amounts pledged, which are considered restricted cash, are included in cash pledged for centrally cleared swaps in the statement of assets and liabilities. Pursuant to the contract, each Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and shown as variation margin receivable (or payable) on centrally cleared swaps in the statement of assets and liabilities. Payments received from (paid to) the counterparty are amortized over the term of the contract and recorded as realized gains (losses) in the statement of operations, including those at termination.

The iShares Inflation Hedged Corporate Bond ETF uses inflation swaps to mitigate the potential impact of inflation on the performance of the bonds held by the Fund or its underlying fund. The iShares Interest Rate Hedged Corporate Bond ETF and iShares Interest Rate Hedged High Yield Bond ETF use interest rate swaps to mitigate the potential impact of interest rates on the performance of the bonds held by each Fund or its underlying fund.

perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates and/or market values associated with these transactions.

For the iShares Inflation Hedged Corporate Bond ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through February 28, 2023 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investment in the iShares iBoxx $ Investment Grade Corporate Bond ETF (“LQD”), after taking into account any fee waivers by LQD, plus 0.05%.

For the iShares Interest Rate Hedged Corporate Bond ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through February 28, 2022 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investment in LQD, after taking into account any fee waivers by LQD, plus 0.10%.

For the iShares Interest Rate Hedged High Yield Bond ETF, BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through February 28, 2022 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investment in the iShares iBoxx $ High Yield Corporate Bond ETF (“HYG”), after taking into account any fee waivers by HYG, plus 0.05%.

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.

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

During the year ended October 31, 2020, iShares Inflation Hedged Corporate Bond ETF received a reimbursement of $3,562 from an affiliate, which is included in payment by affiliate in the statement of operations, related to an operating event.

For the year ended October 31, 2020, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

For the year ended October 31, 2020, purchases and sales related to in-kind transactions were as follows:

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2020, the following permanent differences attributable to distributions paid in excess of taxable income and realized gains (losses) from in-kind redemptions, were reclassified to the following accounts:

As of October 31, 2020, the tax components of accumulated net earnings (losses) were as follows:

Market Risk: 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. The duration of this pandemic and its effects cannot be determined with certainty.

With exchange-traded futures and centrally cleared swaps, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the

event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures and centrally cleared swaps with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.

LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”) by the end of 2021, and it is expected that LIBOR will cease to be published after that time. 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.

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.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares Inflation Hedged Corporate Bond ETF, iShares Interest Rate Hedged Corporate Bond ETF and iShares Interest Rate Hedged High Yield Bond ETF (three of the funds constituting iShares U.S. ETF Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2020, the related statements of operations for the year ended October 31, 2020, the statements of changes in net assets for each of the two years in the period ended October 31, 2020, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2020, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2020 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

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

The Funds hereby designate the following amounts of distributions from direct federal obligation interest for the fiscal year ended October 31, 2020:

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

Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent and proposed enhancements to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Contract for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, which were provided at the June 8-10, 2020 meeting and throughout the year.

Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Contract for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board would continue to assess the appropriateness of adding breakpoints in the future.

Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts. The Board noted that BFA and its affiliates do not manage Other Accounts with a similar investment strategy or investment mandate as the Fund. The Board further noted that BFA provided the Board with detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate. The Board also considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement. The Board noted that the investment advisory fee rate under the Advisory Contract for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.

Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, such as payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board further noted that any portfolio transactions on behalf of the Fund placed through a BFA affiliate or purchased from an underwriting syndicate in which a BFA affiliate participates (including associated commissions) are reported to the Board pursuant to Rule 17e-1 or Rule 10f-3, as applicable, under the 1940 Act. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Contract for the coming year.

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

iShares Interest Rate Hedged Corporate Bond ETF, iShares Interest Rate Hedged High Yield Bond ETF (each the “Fund”)

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

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

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

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the BlackRock Fund Complex referred to as the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares Trust, and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 374 funds as of October 31, 2020. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52^nd Street, New York, NY 10055. The Board has designated Cecilia H. Herbert as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.5%
Lamar Media Corp.
3.75%, 02/15/28 (Call 02/15/23)^(a)	$	14,752	$	14,687,460
4.00%, 02/15/30 (Call 02/15/25)		11,420		11,534,200
4.88%, 01/15/29 (Call 01/15/24)		8,221		8,549,840
5.75%, 02/01/26 (Call 02/01/21)^(a)		11,493		11,891,807
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.63%, 03/15/30 (Call 03/15/25)^(a)(b)		11,579		10,652,680
5.00%, 08/15/27 (Call 08/15/22)^(a)(b)		15,075		14,321,250
5.63%, 02/15/24 (Call 11/30/20)^(a)		6,742		6,849,467
6.25%, 06/15/25 (Call 06/15/22)^(b)		6,759		6,889,956
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)^(b)		22,542		23,085,713


				108,462,373

Aerospace & Defense — 2.0%
Howmet Aerospace Inc.
5.13%, 10/01/24 (Call 07/01/24)^(a)		25,995		27,354,538
5.87%, 02/23/22^(a)		5,954		6,265,096
6.88%, 05/01/25 (Call 04/01/25)^(a)		28,491		31,696,237
Rolls-Royce PLC
3.63%, 10/14/25 (Call 07/14/25)^(b)		8,900		8,488,375
5.75%, 10/15/27 (Call 07/15/27)^(b)		5,790		5,869,613
Signature Aviation U.S. Holdings Inc.
4.00%, 03/01/28 (Call 03/01/23)^(a)(b)		15,213		14,737,594
5.38%, 05/01/26 (Call 05/01/21)^(a)(b)		9,963		10,099,991
Spirit AeroSystems Inc.
4.60%, 06/15/28 (Call 03/15/28)^(a)		15,445		12,855,028
5.50%, 01/15/25 (Call 10/15/22)^(b)		5,650		5,743,726
7.50%, 04/15/25 (Call 04/15/22)^(b)		30,140		30,441,400
SSL Robotics LLC, 9.75%, 12/31/23 (Call 12/15/21)^(b)		18,567		20,609,370
TransDigm Inc.
5.50%, 11/15/27 (Call 11/15/22)^(a)		61,506		59,917,097
6.25%, 03/15/26 (Call 03/15/22)^(a)(b)		99,582		103,565,280
6.38%, 06/15/26 (Call 06/15/21)^(a)		21,180		21,120,696
6.50%, 07/15/24 (Call 11/30/20)^(a)		23,942		23,945,326
6.50%, 05/15/25 (Call 11/30/20)^(a)		14,431		14,431,000
7.50%, 03/15/27 (Call 03/15/22)^(a)		11,930		12,316,606
8.00%, 12/15/25 (Call 04/08/22)^(a)(b)		21,914		23,728,479
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/15/21)^(a)		9,528		9,432,720
Triumph Group Inc.
6.25%, 09/15/24 (Call 11/30/20)^(b)		12,219		10,569,435
7.75%, 08/15/25 (Call 11/30/20)^(a)		12,709		8,273,559
8.88%, 06/01/24 (Call 02/01/23)^(a)(b)		9,799		10,398,342


				471,859,508

Agriculture — 0.3%
JBS Investments II GmbH
5.75%, 01/15/28 (Call 07/15/22)^(a)(b)		12,961		13,584,652
7.00%, 01/15/26 (Call 01/15/22)^(b)		21,307		22,713,049
Vector Group Ltd.
6.13%, 02/01/25 (Call 11/30/20)^(b)		17,407		17,402,648
10.50%, 11/01/26 (Call 11/01/21)^(a)(b)		13,212		13,608,360


				67,308,709

Airlines — 0.7%
American Airlines Group Inc.
3.75%, 03/01/25^(a)(b)		12,099		5,734,926
5.00%, 06/01/22^(b)		19,671		12,835,327
American Airlines Inc., 11.75%, 07/15/25^(b)		50,740		49,372,557


Security	Par (000)		Value

Airlines (continued)
Delta Air Lines Inc.
2.90%, 10/28/24 (Call 09/28/24)^(a)	$	20,599	$	17,958,208
3.63%, 03/15/22 (Call 02/15/22)		8,598		8,398,090
3.75%, 10/28/29 (Call 07/28/29)		14,754		12,196,542
3.80%, 04/19/23 (Call 03/19/23)		10,659		10,174,815
4.38%, 04/19/28 (Call 01/19/28)^(a)		12,134		10,465,575
7.38%, 01/15/26 (Call 12/15/25)^(a)		26,499		27,426,465
United Airlines Holdings Inc., 4.25%, 10/01/22^(a)		9,214		8,374,991


				162,937,496

Apparel — 0.4%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(b)		18,229		18,986,415
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		22,755		24,370,605
5.38%, 05/15/25 (Call 05/15/22)^(b)		10,508		11,046,535
Levi Strauss & Co., 5.00%, 05/01/25 (Call 11/30/20)^(a)		20,337		20,832,714
William Carter Co. (The)
5.50%, 05/15/25 (Call 05/15/22)^(b)		9,969		10,495,862
5.63%, 03/15/27 (Call 03/15/22)^(a)(b)		10,220		10,750,162


				96,482,293

Auto Manufacturers — 3.5%
Allison Transmission Inc.
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)		8,108		8,366,199
5.00%, 10/01/24 (Call 11/10/20)^(b)		21,750		21,958,256
5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		11,050		12,068,810
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25		3,340		3,340,000
Fiat Chrysler Automobiles NV, 5.25%, 04/15/23^(a)		35,761		37,899,150
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(a)		17,337		17,597,575
8.50%, 04/21/23		85,270		94,116,762
9.00%, 04/22/25 (Call 03/22/25)		88,049		103,869,644
9.63%, 04/22/30 (Call 01/22/30)^(a)		30,809		41,190,287
Ford Motor Credit Co. LLC
2.98%, 08/03/22 (Call 07/03/22)^(a)		2,974		2,945,946
3.09%, 01/09/23^(a)		19,287		19,094,130
3.10%, 05/04/23^(a)		9,131		8,995,527
3.34%, 03/28/22 (Call 02/28/22)		4,355		4,340,483
3.35%, 11/01/22^(a)		16,615		16,552,694
3.37%, 11/17/23^(a)		18,495		18,290,954
3.66%, 09/08/24^(a)		12,962		12,832,380
3.81%, 01/09/24 (Call 11/09/23)^(a)		14,706		14,688,500
3.82%, 11/02/27 (Call 08/02/27)		9,892		9,560,786
4.06%, 11/01/24 (Call 10/01/24)^(a)		14,922		14,963,782
4.13%, 08/04/25^(a)		16,338		16,254,529
4.13%, 08/17/27 (Call 06/17/27)		21,510		21,187,350
4.14%, 02/15/23 (Call 01/15/23)^(a)		8,311		8,387,886
4.25%, 09/20/22^(a)		12,350		12,529,659
4.27%, 01/09/27 (Call 11/09/26)		19,367		19,268,358
4.38%, 08/06/23^(a)		5,644		5,757,444
4.39%, 01/08/26		17,839		17,926,773
4.54%, 08/01/26 (Call 06/01/26)^(a)		6,589		6,664,229
4.69%, 06/09/25 (Call 04/09/25)^(a)		7,682		7,851,196
5.11%, 05/03/29 (Call 02/03/29)^(a)		19,918		20,689,822
5.13%, 06/16/25 (Call 05/16/25)^(a)		59,795		62,248,987
5.58%, 03/18/24 (Call 02/18/24)		22,021		23,088,138
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)(b)		12,550		10,451,013
5.63%, 02/01/23 (Call 11/30/20)^(a)(b)		11,958		11,581,144
7.75%, 10/15/25 (Call 10/15/22)^(b)		17,065		17,187,655


Security	Par (000)		Value

Auto Manufacturers (continued)
Navistar International Corp.
6.63%, 11/01/25 (Call 11/10/20)^(a)(b)	$	33,564	$	34,703,498
9.50%, 05/01/25 (Call 05/01/22)^(b)		12,092		13,399,448
Tesla Inc., 5.30%, 08/15/25 (Call 11/30/20)^(b)		39,814		41,217,527


				813,066,521

Auto Parts & Equipment — 1.3%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 08/15/21)^(a)(b)		20,407		19,537,196
Adient U.S. LLC
7.00%, 05/15/26 (Call 05/15/22)^(b)		14,902		15,892,426
9.00%, 04/15/25 (Call 04/15/22)^(b)		11,998		13,209,198
American Axle & Manufacturing Inc.
6.25%, 04/01/25 (Call 11/30/20)^(a)		13,959		14,085,469
6.25%, 03/15/26 (Call 03/15/21)^(a)		8,044		8,064,914
6.50%, 04/01/27 (Call 04/01/22)		10,980		11,031,157
6.88%, 07/01/28 (Call 07/01/23)^(a)		10,485		10,681,594
Clarios Global LP, 6.75%, 05/15/25 (Call 05/15/22)^(b)		6,250		6,610,000
Clarios Global LP/Clarios US Finance Co.
6.25%, 05/15/26 (Call 05/15/22)^(a)(b)		20,546		21,413,041
8.50%, 05/15/27 (Call 05/15/22)^(a)(b)		45,676		47,693,737
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 11/30/20)^(a)(b)		8,064		8,326,080
Dana Inc.
5.38%, 11/15/27 (Call 11/15/22)^(a)		7,882		8,149,368
5.50%, 12/15/24 (Call 11/30/20)^(a)		8,107		8,247,184
5.63%, 06/15/28 (Call 06/15/23)		10,310		10,812,509
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(a)		16,689		16,230,053
5.00%, 05/31/26 (Call 05/31/21)^(a)		20,442		20,180,342
5.13%, 11/15/23 (Call 11/30/20)^(a)		20,593		20,457,241
9.50%, 05/31/25 (Call 05/31/22)		15,184		16,672,336
ZF North America Capital Inc.
4.50%, 04/29/22^(b)		15,365		15,748,198
4.75%, 04/29/25^(a)(b)		23,598		24,376,312


				317,418,355

Banks — 1.6%
CIT Group Inc.
3.93%, 06/19/24 (Call 06/19/23)^(a)(c)		9,807		10,206,027
4.13%, 03/09/21 (Call 02/09/21)		395		397,133
4.75%, 02/16/24 (Call 11/16/23)^(a)		10,002		10,739,648
5.00%, 08/15/22		22,914		24,260,197
5.00%, 08/01/23^(a)		17,153		18,460,916
5.25%, 03/07/25 (Call 12/07/24)^(a)		10,624		11,863,467
6.13%, 03/09/28		8,075		9,833,654
Commerzbank AG, 8.13%, 09/19/23^(a)(b)		21,465		24,634,767
Deutsche Bank AG, 4.30%, 05/24/28 (Call 05/24/23)^(c)		32,511		31,468,489
Deutsche Bank AG/New York NY 4.88%, 12/01/32 (Call 12/01/27)^(a)(c)		22,082		21,299,951
5.88%, 07/08/31 (Call 04/08/30)^(a)(c)		11,353		12,048,727
Fifth Third Bancorp., Series H, 5.10%, (Call 06/30/23)^(a)(c)(d)		13,388		12,626,677
Freedom Mortgage Corp. 7.63%, 05/01/26 (Call 05/01/23)^(b)		14,960		14,913,325
8.13%, 11/15/24 (Call 11/30/20)^(b)		8,709		8,778,751
8.25%, 04/15/25 (Call 04/15/21)^(a)(b)		16,183		16,394,997
Intesa Sanpaolo SpA, 5.02%, 06/26/24^(b)		46,747		49,333,011
UniCredit SpA 5.46%, 06/30/35 (Call 06/30/30)^(b)(c)		36,327		36,850,196
5.86%, 06/19/32 (Call 06/19/27)^(a)(b)(c)		17,973		18,906,225


Security	Par (000)		Value

Banks (continued)
7.30%, 04/02/34 (Call 04/02/29)^(b)(c)	$	27,557	$	31,423,677


				364,439,835

Building Materials — 0.9%
Builders FirstSource Inc. 5.00%, 03/01/30 (Call 03/01/25)^(a)(b)		13,633		14,348,732
6.75%, 06/01/27 (Call 06/01/22)^(a)(b)		16,014		17,175,015
Cornerstone Building Brands Inc. 6.13%, 01/15/29 (Call 09/15/23)^(b)		11,670		11,936,076
8.00%, 04/15/26 (Call 04/15/21)^(b)		7,209		7,481,912
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)		22,954		24,073,007
Jeld-Wen Inc. 4.63%, 12/15/25 (Call 12/15/20)^(a)(b)		8,402		8,497,195
4.88%, 12/15/27 (Call 12/15/22)^(a)(b)		7,460		7,682,308
Standard Industries Inc./NJ 3.38%, 01/15/31 (Call 07/15/25)^(b)		16,874		16,445,127
4.38%, 07/15/30 (Call 07/15/25)^(b)		28,943		29,827,611
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		23,463		24,518,835
5.00%, 02/15/27 (Call 02/15/22)^(a)(b)		23,497		24,290,024
Summit Materials LLC/Summit Materials Finance Corp., 5.25%, 01/15/29 (Call 07/15/23)^(a)(b)		15,342		15,802,260


				202,078,102

Chemicals — 1.4%
Ashland LLC, 4.75%, 08/15/22 (Call 05/15/22)		2		2,093
Axalta Coating Systems LLC, 4.88%, 08/15/24 (Call 11/10/20)^(a)(b)		5,324		5,423,263
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)^(b)		15,703		16,443,985
Blue Cube Spinco LLC 9.75%, 10/15/23 (Call 11/30/20)^(a)		679		698,542
10.00%, 10/15/25 (Call 11/30/20)^(a)		4,207		4,439,500
CF Industries Inc., 3.45%, 06/01/23^(a)		15,358		15,722,752
Chemours Co. (The) 5.38%, 05/15/27 (Call 02/15/27)^(a)		13,321		13,004,626
6.63%, 05/15/23 (Call 11/30/20)		15,709		15,632,957
7.00%, 05/15/25 (Call 11/30/20)^(a)		15,380		15,503,194
Methanex Corp. 5.13%, 10/15/27 (Call 04/15/27)		14,739		14,971,876
5.25%, 12/15/29 (Call 09/15/29)^(a)		16,333		16,549,024
NOVA Chemicals Corp. 4.88%, 06/01/24 (Call 03/03/24)^(a)(b)		22,625		22,380,650
5.00%, 05/01/25 (Call 01/31/25)^(a)(b)		10,339		10,209,762
5.25%, 08/01/23 (Call 11/30/20)^(a)(b)		9,211		9,144,924
5.25%, 06/01/27 (Call 03/03/27)^(a)(b)		23,487		22,830,036
OCI NV 4.63%, 10/15/25 (Call 10/15/22)^(b)		5,900		5,973,485
5.25%, 11/01/24 (Call 11/01/21)^(b)		14,956		15,292,510
Olin Corp. 5.00%, 02/01/30 (Call 02/01/24)^(a)		13,041		13,122,506
5.13%, 09/15/27 (Call 03/15/22)^(a)		10,133		10,340,423
5.63%, 08/01/29 (Call 08/01/24)^(a)		16,724		17,227,058
9.50%, 06/01/25 (Call 03/01/25)^(b)		9,328		11,028,401
Tronox Finance PLC, 5.75%, 10/01/25 (Call 11/30/20)^(a)(b)		9,652		9,638,246
Tronox Inc. 6.50%, 05/01/25 (Call 05/01/22)^(a)(b)		8,285		8,729,995
6.50%, 04/15/26 (Call 04/15/21)^(a)(b)		15,510		15,750,560
Valvoline Inc. 4.25%, 02/15/30 (Call 02/15/25)^(b)		13,986		14,234,033


Security	Par (000)		Value

Chemicals (continued)
4.38%, 08/15/25 (Call 11/30/20)^(a)	$	14,997	$	15,428,164
WR Grace & Co-Conn, 4.88%, 06/15/27 (Call 06/15/23)^(b)		16,096		16,788,289


				336,510,854

Commercial Services — 3.6%
ADT Security Corp. (The)
3.50%, 07/15/22		18,402		18,712,074
4.13%, 06/15/23^(a)		16,903		17,583,346
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.63%, 07/15/26 (Call 07/15/22)^(b)		43,104		45,126,009
9.75%, 07/15/27 (Call 07/15/22)^(a)(b)		22,826		24,463,994
APX Group Inc.
6.75%, 02/15/27 (Call 02/15/23)^(b)		12,678		13,213,012
7.63%, 09/01/23 (Call 11/30/20)		7,441		7,513,550
7.88%, 12/01/22 (Call 11/30/20)		11,626		11,608,328
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
5.75%, 07/15/27 (Call 07/15/22)^(a)(b)		9,245		8,649,853
10.50%, 05/15/25 (Call 05/15/22)^(b)		10,086		11,624,115
Brink’s Co. (The)
4.63%, 10/15/27 (Call 10/15/22)^(a)(b)		12,626		12,878,615
5.50%, 07/15/25 (Call 07/15/22)^(b)		8,206		8,513,725
Garda World Security Corp.
4.63%, 02/15/27 (Call 02/15/23)^(a)(b)		13,484		13,204,323
9.50%, 11/01/27 (Call 11/01/22)^(a)(b)		12,046		12,872,011
Gartner Inc.
3.75%, 10/01/30 (Call 10/01/25)^(b)		14,018		14,334,807
4.50%, 07/01/28 (Call 07/01/23)^(a)(b)		21,391		22,344,611
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)(b)		26,421		27,134,367
Jaguar Holding Co. II/PPD Development LP
4.63%, 06/15/25 (Call 06/15/22)^(a)(b)		7,559		7,814,116
5.00%, 06/15/28 (Call 06/15/23)^(a)(b)		17,472		18,167,560
MPH Acquisition Holdings LLC, 5.75%, 11/01/28 (Call 11/01/23)^(b)		21,755		21,374,287
Nielsen Co Luxembourg Sarl (The)
5.00%, 02/01/25 (Call 11/30/20)^(a)(b)		13,579		13,948,349
5.50%, 10/01/21 (Call 11/30/20)^(b)		2,673		2,677,032
Nielsen Finance LLC/Nielsen Finance Co.
5.00%, 04/15/22 (Call 11/30/20)^(a)(b)		21,136		21,162,420
5.63%, 10/01/28 (Call 10/01/23)^(b)		12,365		12,782,319
5.88%, 10/01/30 (Call 10/01/25)^(a)(b)		12,397		13,000,726
Prime Security Services Borrower LLC/Prime Finance Inc.
3.38%, 08/31/27 (Call 08/31/26)^(b)		16,444		15,828,226
5.25%, 04/15/24^(a)(b)		15,724		16,429,615
5.75%, 04/15/26^(a)(b)		35,642		37,958,730
6.25%, 01/15/28 (Call 01/15/23)^(b)		28,778		29,029,353
Refinitiv U.S. Holdings Inc.
6.25%, 05/15/26 (Call 11/15/21)^(a)(b)		26,370		28,166,588
8.25%, 11/15/26 (Call 11/15/21)^(a)(b)		34,668		37,736,118
Sabre GLBL Inc.
5.25%, 11/15/23 (Call 11/30/20)^(a)(b)		9,804		9,644,685
7.38%, 09/01/25 (Call 09/01/22)^(a)(b)		19,297		19,717,675
9.25%, 04/15/25 (Call 03/16/25)^(a)(b)		17,689		19,590,567
Service Corp. International/U.S.
3.38%, 08/15/30 (Call 08/15/25)		18,769		19,003,612
4.63%, 12/15/27 (Call 12/15/22)		11,051		11,686,433
5.13%, 06/01/29 (Call 06/01/24)^(a)		17,594		19,221,445


Security	Par (000)		Value

Commercial Services (continued)
United Rentals North America Inc.
3.88%, 11/15/27 (Call 11/15/22)	$	19,308	$	20,053,868
3.88%, 02/15/31 (Call 08/15/25)^(a)		18,251		18,430,577
4.00%, 07/15/30 (Call 07/15/25)^(a)		19,822		20,220,422
4.88%, 01/15/28 (Call 01/15/23)^(a)		38,216		40,126,800
5.25%, 01/15/30 (Call 01/15/25)^(a)		18,382		19,921,492
5.50%, 05/15/27 (Call 05/15/22)^(a)		20,797		22,122,809
5.88%, 09/15/26 (Call 09/15/21)^(a)		20,330		21,392,039
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)^(b)		23,851		25,607,457


				832,592,060

Computers — 1.2%
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)^(a)(b)		33,782		35,449,986
Dell International LLC/EMC Corp., 7.13%, 06/15/24 (Call 11/16/20)^(b)		37,807		39,192,626
Diebold Nixdorf Inc.
8.50%, 04/15/24 (Call 11/30/20)^(a)		10,744		9,777,040
9.38%, 07/15/25 (Call 07/15/22)^(b)		12,974		13,752,440
EMC Corp., 3.38%, 06/01/23 (Call 03/01/23)^(a)		21,718		22,142,580
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 11/30/20)^(a)(b)		13,666		4,029,830
NCR Corp.
5.00%, 10/01/28 (Call 10/01/23)^(b)		14,461		14,328,487
5.25%, 10/01/30 (Call 10/01/25)^(a)(b)		11,430		11,362,792
5.75%, 09/01/27 (Call 09/01/22)^(a)(b)		9,520		9,781,800
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		11,295		11,873,869
8.13%, 04/15/25 (Call 04/15/22)^(a)(b)		5,070		5,521,331
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75%, 06/01/25 (Call 11/10/20)^(b)		27,176		27,610,816
Vericast Corp.
8.38%, 08/15/22 (Call 11/30/20)^(b)		13,506		13,303,410
9.25%, 03/01/21 (Call 11/27/20)^(b)		2,723		2,728,119
Vericast Corp./Harland Clarke/Checks in the Mail/Valassis Comm/Valassis Direct, 12.50%, 05/01/24 (Call 11/30/20)^(a)(b)		4,435		4,523,633
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(a)		51,244		55,096,268


				280,475,027

Cosmetics & Personal Care — 0.2%
Avon International Capital PLC, 6.50%, 08/15/22 (Call 11/02/20)^(b)		5,646		5,748,545
Avon International Operations Inc., 7.88%, 08/15/22 (Call 11/02/20)^(a)(b)		11,428		11,641,132
Avon Products Inc., 7.00%, 03/15/23		11,858		12,806,640
Edgewell Personal Care Co.
4.70%, 05/24/22^(a)		10,126		10,415,314
5.50%, 06/01/28 (Call 06/01/23)^(b)		15,673		16,495,833


				57,107,464

Distribution & Wholesale — 0.5%
American Builders & Contractors Supply Co. Inc.
4.00%, 01/15/28 (Call 01/15/23)^(a)(b)		16,851		17,094,637
5.88%, 05/15/26 (Call 05/15/21)^(a)(b)		6,624		6,842,592
Avient Corp.
5.25%, 03/15/23^(a)		11,990		12,863,771
5.75%, 05/15/25 (Call 05/15/22)^(b)		12,790		13,509,437
Core & Main LP, 6.13%, 08/15/25 (Call 11/30/20)^(a)(b)		15,550		15,831,887
Performance Food Group Inc., 5.50%, 10/15/27 (Call 10/15/22)^(a)(b)		23,245		23,819,500


Security	Par (000)		Value

Distribution & Wholesale (continued)
Wolverine Escrow LLC
8.50%, 11/15/24 (Call 11/15/21)^(a)(b)	$	13,766	$	10,668,221
9.00%, 11/15/26 (Call 11/15/22)^(b)		19,773		15,120,413
13.13%, 11/15/27 (Call 11/15/22)^(a)(b)		12,027		8,253,529


				124,003,987

Diversified Financial Services — 2.3%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(a)(c)		18,971		14,969,931
Ally Financial Inc., 5.75%, 11/20/25 (Call 10/21/25)^(a)		23,192		26,359,099
Genworth Mortgage Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)^(b)		17,476		18,218,730
LPL Holdings Inc.
4.63%, 11/15/27 (Call 11/15/22)^(a)(b)		7,886		8,083,150
5.75%, 09/15/25 (Call 11/10/20)^(b)		18,677		19,337,232
Nationstar Mortgage Holdings Inc.
5.50%, 08/15/28 (Call 08/15/23)^(b)		19,625		19,531,014
6.00%, 01/15/27 (Call 01/15/23)^(b)		13,058		13,058,000
9.13%, 07/15/26 (Call 07/15/21)^(a)(b)		14,743		15,751,237
Navient Corp.
5.00%, 03/15/27 (Call 09/15/26)^(a)		15,220		14,197,977
5.50%, 01/25/23		19,406		19,321,099
5.88%, 10/25/24		9,205		9,126,942
6.13%, 03/25/24^(a)		21,119		21,345,489
6.50%, 06/15/22^(a)		18,480		18,963,322
6.63%, 07/26/21		89		90,716
6.75%, 06/25/25		11,254		11,392,884
6.75%, 06/15/26		12,259		12,323,701
7.25%, 01/25/22^(a)		12,361		12,740,328
7.25%, 09/25/23^(a)		11,747		12,349,034
NFP Corp., 6.88%, 08/15/28 (Call 08/15/23)^(b)		32,737		31,843,280
OneMain Finance Corp.
5.38%, 11/15/29 (Call 05/15/29)		17,191		17,691,298
5.63%, 03/15/23		17,492		18,213,545
6.13%, 05/15/22		19,245		20,119,685
6.13%, 03/15/24 (Call 09/15/23)^(a)		27,370		28,805,633
6.63%, 01/15/28 (Call 07/15/27)^(a)		17,933		19,614,219
6.88%, 03/15/25		25,773		28,334,836
7.13%, 03/15/26^(a)		36,750		40,761,626
7.75%, 10/01/21^(a)		1,587		1,656,828
8.88%, 06/01/25 (Call 06/01/22)		9,600		10,528,000
Quicken Loans LLC, 5.25%, 01/15/28 (Call 01/15/23)^(a)(b)		28,097		29,438,913
Quicken Loans LLC/Quicken Loans Co-Issuer Inc.
3.63%, 03/01/29 (Call 03/01/24)^(b)		19,195		18,885,385
3.88%, 03/01/31 (Call 03/01/26)^(a)(b)		17,330		17,048,758


				550,101,891

Electric — 2.2%
AES Corp. (The)
5.13%, 09/01/27 (Call 09/01/22)^(a)		10,866		11,652,698
5.50%, 04/15/25 (Call 11/30/20)^(a)		8,438		8,667,598
6.00%, 05/15/26 (Call 05/15/21)^(a)		7,720		8,089,170
Calpine Corp.
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		26,185		26,569,118
4.63%, 02/01/29 (Call 02/01/24)^(a)(b)		14,206		14,338,151
5.00%, 02/01/31 (Call 02/01/26)^(a)(b)		19,610		20,058,742
5.13%, 03/15/28 (Call 03/15/23)^(b)		31,264		32,249,254
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		24,683		25,389,427


Security	Par (000)		Value

Electric (continued)
Clearway Energy Operating LLC
4.75%, 03/15/28 (Call 03/15/23)^(a)(b)	$	19,553	$	20,555,091
5.75%, 10/15/25 (Call 10/15/21)^(a)		8,677		9,084,819
DPL Inc.
4.13%, 07/01/25 (Call 04/01/25)^(b)		8,190		8,552,700
4.35%, 04/15/29 (Call 01/15/29)^(a)		8,647		9,381,995
Electricite de France SA
5.25%, (Call 01/29/23)^(a)(b)(c)(d)		7,850		8,124,044
5.63%, (Call 01/22/24)^(a)(b)(c)(d)		7,035		7,388,157
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(b)		10,504		10,894,959
4.25%, 07/15/24 (Call 04/15/24)^(b)		15,775		16,459,320
4.25%, 09/15/24 (Call 07/15/24)^(a)(b)		11,109		11,556,137
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		11,411		12,464,141
NRG Energy Inc.
5.25%, 06/15/29 (Call 06/15/24)^(a)(b)		15,436		16,728,765
5.75%, 01/15/28 (Call 01/15/23)^(a)		18,255		19,622,756
6.63%, 01/15/27 (Call 07/15/21)^(a)		25,214		26,537,735
7.25%, 05/15/26 (Call 05/15/21)^(a)		18,953		19,995,225
PG&E Corp.
5.00%, 07/01/28 (Call 07/01/23)^(a)		21,724		21,753,327
5.25%, 07/01/30 (Call 07/01/25)		21,761		21,761,000
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 11/30/20)		13,349		7,998,053
6.63%, 01/15/28 (Call 01/15/23)^(b)		10,746		10,271,385
7.25%, 05/15/27 (Call 05/15/22)^(b)		15,446		15,426,693
7.63%, 06/01/28 (Call 06/01/23)^(b)		7,813		7,676,273
10.50%, 01/15/26 (Call 01/15/22)^(b)		14,146		9,582,441
Vistra Operations Co. LLC
5.00%, 07/31/27 (Call 07/31/22)^(b)		28,223		29,493,035
5.50%, 09/01/26 (Call 09/01/21)^(a)(b)		20,289		21,028,457
5.63%, 02/15/27 (Call 02/15/22)^(b)		27,437		28,658,473


				518,009,139

Electrical Components & Equipment — 0.5%
Energizer Holdings Inc.
4.38%, 03/31/29 (Call 09/30/23)^(a)(b)		20,073		20,273,730
4.75%, 06/15/28 (Call 06/15/23)^(a)(b)		12,177		12,532,881
7.75%, 01/15/27 (Call 01/15/22)^(a)(b)		10,793		11,678,026
WESCO Distribution Inc.
7.13%, 06/15/25 (Call 06/15/22)^(a)(b)		30,623		33,055,385
7.25%, 06/15/28 (Call 06/15/23)^(a)(b)		30,848		33,778,560


				111,318,582

Electronics — 0.3%
Sensata Technologies BV
4.88%, 10/15/23^(a)(b)		9,840		10,414,000
5.00%, 10/01/25^(a)(b)		15,410		16,858,540
5.63%, 11/01/24^(a)(b)		7,573		8,309,095
Sensata Technologies Inc.
3.75%, 02/15/31 (Call 02/15/26)^(a)(b)		13,657		13,520,430
4.38%, 02/15/30 (Call 11/15/29)^(a)(b)		13,679		14,362,950


				63,465,015

Energy - Alternate Sources — 0.2%
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)^(a)(b)		7,830		7,986,563
4.75%, 01/15/30 (Call 01/15/25)^(a)(b)		14,511		15,565,950
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		16,008		17,603,998


				41,156,511


Security	Par (000)		Value

Engineering & Construction — 0.3%
AECOM
5.13%, 03/15/27 (Call 12/15/26)^(a)	$	23,391	$	25,648,231
5.88%, 10/15/24 (Call 07/15/24)^(a)		15,784		17,338,724
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 11/30/20)^(a)(b)		21,687		20,277,345
Fluor Corp.
3.50%, 12/15/24 (Call 09/15/24)^(a)		9,320		8,434,600
4.25%, 09/15/28 (Call 06/15/28)		10,900		9,648,157


				81,347,057

Entertainment — 2.8%
AMC Entertainment Holdings Inc.
10.00%, 06/15/26 (Call 06/15/23)^(b)		19,731		1,085,205
10.50%, 04/15/25 (Call 04/15/22)^(a)(b)		11,215		6,056,100
10.50%, 04/24/26 (Call 06/15/22)^(b)		2,477		1,263,270
Caesars Entertainment Inc.
6.25%, 07/01/25 (Call 07/01/22)^(b)		76,577		78,587,001
8.13%, 07/01/27 (Call 07/01/23)^(a)(b)		38,897		40,552,845
Caesars Resort Collection LLC / CRC Finco Inc., 5.75%, 07/01/25 (Call 07/01/22)^(a)(b)		20,060		20,599,213
Caesars Resort Collection LLC/CRC Finco Inc., 5.25%, 10/15/25 (Call 11/10/20)^(b)		37,381		35,472,700
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(a)		11,825		10,694,234
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp., 5.38%, 06/01/24 (Call 11/30/20)^(a)		7,156		6,868,043
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op
5.38%, 04/15/27 (Call 04/15/22)^(a)		11,983		11,129,211
5.50%, 05/01/25 (Call 05/01/22)^(b)		21,149		21,413,362
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		11,500		11,619,830
5.50%, 04/01/27 (Call 04/01/22)^(a)(b)		13,013		13,403,390
Cinemark USA Inc.
4.88%, 06/01/23 (Call 11/30/20)^(a)		17,592		14,682,987
5.13%, 12/15/22 (Call 11/30/20)^(a)		8,138		7,008,853
International Game Technology PLC
5.25%, 01/15/29 (Call 01/15/24)^(b)		17,150		17,064,250
6.25%, 02/15/22 (Call 08/15/21)^(a)(b)		16,118		16,519,704
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		16,759		17,806,438
6.50%, 02/15/25 (Call 08/15/24)^(a)(b)		24,995		26,631,063
Lions Gate Capital Holdings LLC
5.88%, 11/01/24 (Call 11/30/20)^(b)		12,831		12,109,256
6.38%, 02/01/24 (Call 02/01/21)^(b)		11,159		10,680,042
Live Nation Entertainment Inc.
4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		20,770		19,134,362
4.88%, 11/01/24 (Call 11/05/20)^(b)		14,195		13,676,173
6.50%, 05/15/27 (Call 05/15/23)^(a)(b)		24,859		26,741,373
Scientific Games International Inc.
5.00%, 10/15/25 (Call 11/30/20)^(a)(b)		26,724		26,824,215
7.00%, 05/15/28 (Call 05/15/23)^(b)		15,041		14,946,994
7.25%, 11/15/29 (Call 11/15/24)^(a)(b)		10,958		10,879,102
8.25%, 03/15/26 (Call 03/15/22)^(a)(b)		25,854		26,249,566
8.63%, 07/01/25 (Call 07/01/22)^(b)		10,462		10,827,459
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 11/30/20)^(a)(b)		21,894		20,352,297
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		11,715		10,898,465
Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/22)^(b)		14,756		15,622,915


Security	Par (000)		Value

Entertainment (continued)
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 (Call 07/15/21)^(a)(b)	$	20,380	$	21,463,808
WMG Acquisition Corp.
3.00%, 02/15/31 (Call 02/15/26)^(b)		12,401		11,842,955
3.88%, 07/15/30 (Call 07/15/25)^(b)		11,895		11,977,194
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.13%, 10/01/29 (Call 07/01/29)^(a)(b)		17,306		16,559,679
7.75%, 04/15/25 (Call 04/15/22)^(a)(b)		11,671		12,220,068


				651,463,622

Environmental Control — 0.3%
Covanta Holding Corp.
5.00%, 09/01/30 (Call 09/01/25)^(a)		8,590		8,689,644
5.88%, 07/01/25 (Call 11/30/20)^(a)		7,460		7,749,075
6.00%, 01/01/27 (Call 01/01/22)^(a)		7,791		8,117,248
GFL Environmental Inc.
3.75%, 08/01/25 (Call 08/01/22)^(b)		16,455		16,503,817
4.25%, 06/01/25 (Call 06/01/22)^(b)		10,280		10,516,091
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		11,742		12,325,284
7.00%, 06/01/26 (Call 06/01/21)^(a)(b)		4,603		4,787,120
8.50%, 05/01/27 (Call 05/01/22)^(b)		1,425		1,553,250


				70,241,529

Food — 3.3%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.25%, 03/15/26 (Call 09/15/22)^(b)		16,501		16,207,282
3.50%, 02/15/23 (Call 12/15/22)^(a)(b)		14,158		14,397,256
3.50%, 03/15/29 (Call 09/15/23)^(a)(b)		17,484		16,943,744
4.63%, 01/15/27 (Call 01/15/23)^(a)(b)		28,290		29,200,938
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		23,322		24,770,296
5.75%, 03/15/25 (Call 11/30/20)^(a)		20,130		20,784,225
5.88%, 02/15/28 (Call 08/15/22)^(a)(b)		14,791		15,759,475
7.50%, 03/15/26 (Call 03/15/22)^(a)(b)		11,763		12,978,807
B&G Foods Inc.
5.25%, 04/01/25 (Call 11/30/20)^(a)		18,115		18,658,450
5.25%, 09/15/27 (Call 03/01/22)^(a)		11,068		11,379,121
JBS USA LUX SA/JBS USA Finance Inc.
5.75%, 06/15/25 (Call 11/30/20)^(b)		21,411		22,032,990
6.75%, 02/15/28 (Call 02/15/23)^(b)		18,458		20,266,423
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc.
5.50%, 01/15/30 (Call 01/15/25)^(a)(b)		27,829		30,265,816
6.50%, 04/15/29 (Call 04/15/24)^(a)(b)		33,546		37,641,497
Kraft Heinz Foods Co.
3.00%, 06/01/26 (Call 03/01/26)		42,641		43,451,605
3.50%, 06/06/22^(a)		3,010		3,139,767
3.75%, 04/01/30 (Call 01/01/30)^(a)(b)		23,393		24,591,891
3.88%, 05/15/27 (Call 02/15/27)^(b)		28,997		30,619,382
3.95%, 07/15/25 (Call 04/15/25)^(a)		34,350		37,130,976
4.00%, 06/15/23 (Call 05/15/23)^(a)		6,295		6,735,650
4.25%, 03/01/31 (Call 12/01/30)^(b)		30,379		32,839,283
4.63%, 01/30/29 (Call 10/30/28)^(a)		23,241		25,847,432
Lamb Weston Holdings Inc.
4.63%, 11/01/24 (Call 11/01/21)^(a)(b)		15,967		16,545,804
4.88%, 11/01/26 (Call 11/01/21)^(a)(b)		16,305		16,916,438
4.88%, 05/15/28 (Call 11/15/27)^(a)(b)		12,411		13,462,770


Security	Par (000)		Value

Food (continued)
Pilgrim’s Pride Corp.
5.75%, 03/15/25 (Call 11/30/20)^(b)	$	19,164	$	19,619,145
5.88%, 09/30/27 (Call 09/30/22)^(b)		18,785		19,867,580
Post Holdings Inc.
4.63%, 04/15/30 (Call 04/15/25)^(b)		38,051		39,097,403
5.00%, 08/15/26 (Call 08/15/21)^(b)		36,458		37,714,222
5.50%, 12/15/29 (Call 12/15/24)^(a)(b)		16,198		17,514,088
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		19,235		20,228,809
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		26,383		27,528,626
TreeHouse Foods Inc.
4.00%, 09/01/28 (Call 09/01/23)^(a)		12,506		12,496,478
6.00%, 02/15/24 (Call 11/30/20)^(a)(b)		1,098		1,119,808
U.S. Foods Inc.
5.88%, 06/15/24 (Call 11/30/20)^(b)		11,491		11,534,091
6.25%, 04/15/25 (Call 04/15/22)^(b)		23,107		24,069,792


				773,357,360

Food Service — 0.4%
Aramark Services Inc.
4.75%, 06/01/26 (Call 06/01/21)^(a)		9,816		9,754,650
5.00%, 04/01/25 (Call 11/30/20)^(a)(b)		12,333		12,518,858
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		27,829		28,110,351
6.38%, 05/01/25 (Call 05/01/22)^(a)(b)		31,532		33,092,992


				83,476,851

Forest Products & Paper — 0.0%
Mercer International Inc., 7.38%, 01/15/25 (Call 01/15/21)^(a)		11,441		11,641,218


Gas — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)		12,551		13,398,192
5.63%, 05/20/24 (Call 03/20/24)		12,442		13,266,283
5.75%, 05/20/27 (Call 02/20/27)^(a)		11,991		13,193,128
5.88%, 08/20/26 (Call 05/20/26)^(a)		16,180		17,717,100


				57,574,703

Hand & Machine Tools — 0.1%
Colfax Corp.
6.00%, 02/15/24 (Call 02/15/21)^(a)(b)		9,944		10,343,848
6.38%, 02/15/26 (Call 02/15/22)^(a)(b)		7,509		7,940,768


				18,284,616

Health Care - Products — 0.7%
Avantor Funding Inc., 4.63%, 07/15/28 (Call 07/15/23)^(a)(b)		32,672		33,854,727
Avantor Inc., 6.00%, 10/01/24 (Call 11/06/20)^(b)		44,466		46,462,524
Hologic Inc.
3.25%, 02/15/29 (Call 09/28/23)^(a)(b)		18,155		18,269,525
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		11,259		11,765,655
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA
7.25%, 02/01/28 (Call 02/01/23)^(a)(b)		16,252		16,975,214
7.38%, 06/01/25 (Call 06/01/22)^(a)(b)		7,587		7,948,505
Teleflex Inc.
4.25%, 06/01/28 (Call 06/01/23)^(b)		10,176		10,641,654
4.63%, 11/15/27 (Call 11/15/22)		11,011		11,636,865
4.88%, 06/01/26 (Call 06/01/21)		3,499		3,636,044


				161,190,713

Health Care - Services — 6.9%
Acadia Healthcare Co. Inc.
5.00%, 04/15/29 (Call 10/15/23)^(b)		5,650		5,835,320
5.50%, 07/01/28 (Call 07/01/23)^(a)(b)		10,844		11,311,648


Security	Par (000)		Value

Health Care - Services (continued)
5.63%, 02/15/23 (Call 11/30/20)	$	22,492	$	22,609,145
Centene Corp.
3.00%, 10/15/30 (Call 07/15/30)		11,406		11,863,495
3.38%, 02/15/30 (Call 02/15/25)		48,537		50,343,431
4.25%, 12/15/27 (Call 12/15/22)		62,818		65,974,083
4.63%, 12/15/29 (Call 12/15/24)		91,090		99,290,833
4.75%, 01/15/25 (Call 11/30/20)^(a)		30,202		31,061,247
4.75%, 01/15/25 (Call 11/30/20)		25,592		26,320,092
5.38%, 06/01/26 (Call 06/01/21)^(a)(b)		43,448		45,716,420
5.38%, 08/15/26 (Call 08/15/21)^(a)(b)		19,376		20,352,874
Charles River Laboratories International Inc.
4.25%, 05/01/28 (Call 05/01/23)^(b)		11,838		12,357,951
5.50%, 04/01/26 (Call 04/01/21)^(a)(b)		9,392		9,814,640
CHS/Community Health Systems Inc.
6.25%, 03/31/23 (Call 11/30/20)^(a)		60,961		60,567,802
6.63%, 02/15/25 (Call 02/15/22)^(b)		30,725		30,072,094
6.88%, 04/01/28 (Call 04/01/23)^(b)		31,123		15,732,676
8.00%, 03/15/26 (Call 03/15/22)^(b)		49,585		49,847,800
8.00%, 12/15/27 (Call 12/15/22)^(b)		13,364		13,163,540
8.13%, 06/30/24 (Call 06/30/21)^(a)(b)		29,328		22,696,939
8.63%, 01/15/24 (Call 01/15/21)^(b)		21,747		22,082,719
9.88%, 06/30/23 (Call 11/16/20)^(a)(b)(e)		48,382		40,139,783
DaVita Inc.
3.75%, 02/15/31 (Call 02/15/26)^(b)		33,154		31,869,282
4.63%, 06/01/30 (Call 06/01/25)^(b)		38,145		38,848,775
Encompass Health Corp, 4.63%, 04/01/31 (Call 04/01/26)		1,979		2,035,896
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)		18,341		18,822,451
4.75%, 02/01/30 (Call 02/01/25)^(a)		20,213		20,920,455
5.75%, 11/01/24 (Call 11/01/20)^(a)		17,619		17,619,000
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)^(a)		62,153		63,473,751
5.38%, 02/01/25^(a)		56,737		62,924,170
5.38%, 09/01/26 (Call 03/01/26)^(a)		21,172		23,792,035
5.63%, 09/01/28 (Call 03/01/28)^(a)		32,616		37,997,640
5.88%, 05/01/23		24,740		26,866,569
5.88%, 02/15/26 (Call 08/15/25)^(a)		31,885		36,030,050
5.88%, 02/01/29 (Call 08/01/28)^(a)		21,207		24,916,104
IQVIA Inc.
5.00%, 10/15/26 (Call 10/15/21)^(a)(b)		22,544		23,378,579
5.00%, 05/15/27 (Call 05/15/22)^(a)(b)		25,822		27,063,220
Legacy LifePoint Health LLC
4.38%, 02/15/27 (Call 02/15/22)^(b)		13,537		13,397,704
6.75%, 04/15/25 (Call 04/15/22)^(b)		14,960		15,857,600
MEDNAX Inc.
5.25%, 12/01/23 (Call 11/30/20)^(b)		12,213		12,337,573
6.25%, 01/15/27 (Call 01/15/22)^(a)(b)		23,663		24,424,949
Molina Healthcare Inc.
4.38%, 06/15/28 (Call 06/15/23)^(b)		17,375		17,809,375
5.38%, 11/15/22 (Call 08/15/22)^(a)		14,411		15,009,057
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)^(a)(b)		29,700		32,001,750
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)		28,182		29,706,083
Tenet Healthcare Corp.
4.63%, 07/15/24 (Call 11/30/20)^(a)		42,629		43,365,488
4.63%, 09/01/24 (Call 09/01/21)^(a)(b)		12,355		12,629,281
4.63%, 06/15/28 (Call 06/15/23)^(a)(b)		11,844		11,992,050
4.88%, 01/01/26 (Call 03/01/22)^(a)(b)		47,796		48,544,992


Security	Par (000)		Value

Health Care - Services (continued)
5.13%, 05/01/25 (Call 11/30/20)^(a)	$	31,112	$	30,830,436
5.13%, 11/01/27 (Call 11/01/22)^(b)		33,210		34,196,337
6.13%, 10/01/28 (Call 10/01/23)^(b)		55,389		53,579,513
6.25%, 02/01/27 (Call 02/01/22)^(a)(b)		33,955		35,260,570
6.75%, 06/15/23^(a)		42,961		45,154,589
7.00%, 08/01/25 (Call 11/30/20)^(a)		8,261		8,440,041
7.50%, 04/01/25 (Call 04/01/22)^(b)		13,224		14,245,025


				1,622,494,922

Holding Companies - Diversified — 0.6%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.75%, 09/15/24 (Call 06/15/24)		23,087		23,491,022
5.25%, 05/15/27 (Call 11/15/26)		22,640		23,428,021
6.25%, 02/01/22 (Call 11/30/20)^(a)		23,998		24,048,396
6.25%, 05/15/26 (Call 05/15/22)^(a)		27,574		28,608,025
6.38%, 12/15/25 (Call 12/15/20)^(a)		13,583		13,922,575
6.75%, 02/01/24 (Call 11/30/20)		6,352		6,496,826
Stena AB, 7.00%, 02/01/24^(b)		12,880		12,236,000


				132,230,865

Home Builders — 1.3%
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp.
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		11,927		11,330,650
6.25%, 09/15/27 (Call 09/15/22)^(a)(b)		12,156		12,444,705
KB Home, 7.00%, 12/15/21 (Call 09/15/21)^(a)		5,060		5,265,057
Lennar Corp.
4.13%, 01/15/22 (Call 10/15/21)^(a)		8,091		8,283,161
4.50%, 04/30/24 (Call 01/31/24)		13,047		14,059,708
4.75%, 04/01/21 (Call 11/24/20)		454		456,781
4.75%, 11/15/22 (Call 08/15/22)^(a)		10,322		10,860,499
4.75%, 05/30/25 (Call 02/28/25)^(a)		10,192		11,201,212
4.75%, 11/29/27 (Call 05/29/27)		22,938		26,201,619
4.88%, 12/15/23 (Call 09/15/23)		6,696		7,253,442
5.88%, 11/15/24 (Call 05/15/24)		8,711		9,792,875
Mattamy Group Corp.
4.63%, 03/01/30 (Call 03/01/25)^(b)		14,283		14,523,604
5.25%, 12/15/27 (Call 12/15/22)^(a)(b)		9,532		10,080,090
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)		8,082		9,101,948
Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/22)^(b)		13,438		14,143,495
PulteGroup Inc.
5.00%, 01/15/27 (Call 10/15/26)		15,281		17,474,915
5.50%, 03/01/26 (Call 12/01/25)^(a)		14,545		16,763,112
Taylor Morrison Communities Inc.
5.13%, 08/01/30 (Call 02/01/30)^(b)		12,455		13,514,298
5.75%, 01/15/28 (Call 10/15/27)^(a)(b)		9,773		10,825,552
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		9,470		10,509,727
Toll Brothers Finance Corp.
3.80%, 11/01/29 (Call 08/01/29)^(a)		10,393		11,079,873
4.35%, 02/15/28 (Call 11/15/27)^(a)		8,857		9,701,280
4.38%, 04/15/23 (Call 01/15/23)^(a)		6,671		7,002,015
4.88%, 03/15/27 (Call 12/15/26)^(a)		9,175		10,306,791
5.88%, 02/15/22 (Call 11/15/21)		3,849		3,998,149
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24		9,516		10,324,860
Williams Scotsman International Inc., 4.63%, 08/15/28 (Call 08/15/23)^(b)		10,724		10,817,835


				297,317,253


Security	Par (000)		Value

Home Furnishings — 0.1%
Tempur Sealy International Inc.
5.50%, 06/15/26 (Call 06/15/21)^(a)	$	10,536	$	10,957,229
5.63%, 10/15/23 (Call 11/30/20)^(a)		12,090		12,239,237


				23,196,466

Household Products & Wares — 0.2%
Prestige Brands Inc.
5.13%, 01/15/28 (Call 01/15/23)^(a)(b)		8,122		8,457,033
6.38%, 03/01/24 (Call 11/30/20)^(a)(b)		7,434		7,582,680
Spectrum Brands Inc., 5.75%, 07/15/25 (Call 11/30/20)		20,403		21,015,090


				37,054,803

Housewares — 0.4%
Newell Brands Inc.
4.35%, 04/01/23 (Call 02/01/23)^(a)		28,946		30,247,748
4.70%, 04/01/26 (Call 01/01/26)		46,212		49,215,780
4.88%, 06/01/25 (Call 05/01/25)		9,853		10,641,240


				90,104,768

Insurance — 0.6%
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 11/30/20)^(a)(b)		21,876		21,892,407
8.13%, 02/15/24 (Call 02/15/21)^(a)(b)		19,632		20,494,008
10.13%, 08/01/26 (Call 08/01/22)^(a)(b)		7,956		8,811,270
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.25%, 10/15/27 (Call 10/15/23)^(b)		12,935		12,887,352
6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		14,736		15,472,800
Genworth Holdings Inc., 7.63%, 09/24/21		1,327		1,322,886
HUB International Ltd., 7.00%, 05/01/26 (Call 05/01/21)^(a)(b)		38,575		39,539,375
Radian Group Inc.
4.50%, 10/01/24 (Call 07/01/24)		9,292		9,431,380
4.88%, 03/15/27 (Call 09/15/26)		10,954		11,197,975
6.63%, 03/15/25 (Call 09/15/24)^(a)		11,396		12,389,617


				153,439,070

Internet — 1.9%
Match Group Holdings II LLC
4.13%, 08/01/30 (Call 05/01/25)^(b)		10,535		10,780,360
4.63%, 06/01/28 (Call 06/01/23)^(a)(b)		10,775		11,155,896
5.00%, 12/15/27 (Call 12/15/22)^(b)		9,234		9,591,356
Netflix Inc.
3.63%, 06/15/25 (Call 03/15/25)^(b)		7,825		8,194,731
4.38%, 11/15/26^(a)		19,644		21,360,025
4.88%, 04/15/28^(a)		38,365		43,149,116
4.88%, 06/15/30 (Call 03/15/30)^(a)(b)		23,821		27,245,269
5.38%, 11/15/29^(a)(b)		20,847		24,401,493
5.50%, 02/15/22^(a)		10,508		11,040,624
5.75%, 03/01/24^(a)		3,399		3,764,393
5.88%, 02/15/25^(a)		13,479		15,194,371
5.88%, 11/15/28^(a)		43,188		51,677,897
6.38%, 05/15/29^(a)		17,095		21,026,850
NortonLifeLock Inc.
3.95%, 06/15/22 (Call 03/15/22)^(a)		7,646		7,798,108
5.00%, 04/15/25 (Call 11/10/20)^(a)(b)		23,402		23,833,975
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)^(b)		17,620		16,331,726
Uber Technologies Inc.
6.25%, 01/15/28 (Call 09/15/23)^(b)		11,169		11,314,401
7.50%, 05/15/25 (Call 05/15/22)^(b)		20,288		21,277,040
7.50%, 09/15/27 (Call 09/15/22)^(a)(b)		27,395		28,634,624
8.00%, 11/01/26 (Call 11/01/21)^(a)(b)		33,182		34,965,533


Security	Par (000)		Value

Internet (continued)
VeriSign Inc.
4.63%, 05/01/23 (Call 11/30/20)	$	11,844	$	11,966,822
4.75%, 07/15/27 (Call 07/15/22)		11,381		12,021,665
5.25%, 04/01/25 (Call 01/01/25)^(a)		9,846		11,037,858


				437,764,133

Iron & Steel — 0.7%
Allegheny Technologies Inc., 7.88%, 08/15/23 (Call 05/15/23)^(a)		11,661		11,739,931
ArcelorMittal SA
3.60%, 07/16/24		7,516		7,799,128
4.25%, 07/16/29^(a)		8,750		9,196,515
4.55%, 03/11/26^(a)		15,414		16,558,008
6.13%, 06/01/25^(a)		1,456		1,684,534
Cleveland-Cliffs Inc.
4.88%, 01/15/24 (Call 01/15/21)^(a)(b)		6,274		6,267,203
5.88%, 06/01/27 (Call 06/01/22)^(a)		13,138		12,721,043
6.75%, 03/15/26 (Call 03/15/22)^(b)		20,707		21,768,234
9.88%, 10/17/25 (Call 10/17/22)^(b)		19,121		21,869,644
U.S. Steel Corp.
6.25%, 03/15/26 (Call 03/15/21)^(a)		14,983		11,312,165
6.88%, 08/15/25 (Call 11/30/20)^(a)		16,145		12,819,130
United States Steel Corp., 12.00%, 06/01/25 (Call 06/01/22)^(a)(b)		21,463		23,823,930


				157,559,465

Leisure Time — 0.6%
Carnival Corp.
9.88%, 08/01/27 (Call 02/01/24)^(b)		20		20,788
10.50%, 02/01/26 (Call 08/01/23)^(a)(b)		17,465		18,897,785
NCL Corp. Ltd.
3.63%, 12/15/24 (Call 12/15/21)^(b)		11,683		8,075,874
10.25%, 02/01/26 (Call 08/01/23)^(b)		16,799		17,209,455
12.25%, 05/15/24 (Call 02/15/24)^(a)(b)		15,165		16,735,660
Royal Caribbean Cruises Ltd.
3.70%, 03/15/28 (Call 12/15/27)		3,755		2,727,106
5.25%, 11/15/22^(a)		14,461		12,940,426
9.13%, 06/15/23 (Call 03/15/23)^(b)		27,910		29,131,062
Viking Cruises Ltd.
5.88%, 09/15/27 (Call 09/15/22)^(a)(b)		18,508		14,319,640
13.00%, 05/15/25 (Call 05/15/22)^(b)		13,531		15,256,202
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(b)		15,436		13,410,025


				148,724,023

Lodging — 3.3%
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)^(a)		23,839		23,161,019
6.00%, 08/15/26 (Call 08/15/21)^(a)		12,799		13,202,808
6.38%, 04/01/26 (Call 04/01/21)^(a)		15,142		15,711,036
8.63%, 06/01/25 (Call 06/01/22)^(b)		11,464		12,549,641
Diamond Resorts International Inc.
7.75%, 09/01/23 (Call 11/30/20)^(a)(b)		11,763		11,139,796
10.75%, 09/01/24 (Call 11/30/20)^(a)(b)		12,850		11,661,375
Hilton Domestic Operating Co. Inc.
4.25%, 09/01/24 (Call 11/16/20)		18,185		18,130,445
4.88%, 01/15/30 (Call 01/15/25)		24,088		24,840,750
5.13%, 05/01/26 (Call 05/01/21)		33,063		33,669,458
5.38%, 05/01/25 (Call 05/01/22)^(a)(b)		9,953		10,289,942
5.75%, 05/01/28 (Call 05/01/23)^(a)(b)		9,760		10,248,781
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
4.63%, 04/01/25 (Call 11/16/20)		17,432		17,593,420


Security	Par (000)		Value

Lodging (continued)
4.88%, 04/01/27 (Call 04/01/22)	$	14,016	$	14,155,880
Marriott Ownership Resorts Inc., 6.13%, 09/15/25 (Call 05/15/22)^(a)(b)		9,590		9,997,575
Marriott Ownership Resorts Inc./ILG LLC, 6.50%, 09/15/26 (Call 09/15/21)		16,381		16,872,430
Melco Resorts Finance Ltd.
4.88%, 06/06/25 (Call 11/30/20)^(b)		20,710		20,632,337
5.25%, 04/26/26 (Call 04/26/22)^(a)(b)		10,370		10,421,850
5.38%, 12/04/29 (Call 12/04/24)^(b)		20,870		20,113,462
5.63%, 07/17/27 (Call 07/17/22)^(b)		14,301		14,317,804
5.75%, 07/21/28 (Call 07/21/23)^(b)		16,896		16,870,487
MGM China Holdings Ltd.
5.25%, 06/18/25 (Call 06/18/22)^(a)(b)		8,840		8,842,181
5.38%, 05/15/24 (Call 05/15/21)^(b)		14,933		15,082,330
5.88%, 05/15/26 (Call 05/15/22)^(a)(b)		17,425		17,642,812
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		8,727		8,587,892
4.75%, 10/15/28 (Call 07/15/28)^(a)		13,905		13,592,137
5.50%, 04/15/27 (Call 01/15/27)^(a)		16,045		16,224,223
5.75%, 06/15/25 (Call 03/15/25)		16,657		17,339,104
6.00%, 03/15/23		31,627		32,767,998
6.75%, 05/01/25 (Call 05/01/22)		19,012		19,998,723
7.75%, 03/15/22^(a)		21,290		22,388,032
Station Casinos LLC
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		16,431		15,496,487
5.00%, 10/01/25 (Call 11/30/20)^(b)		10,617		10,545,807
Studio City Finance Ltd.
6.00%, 07/15/25 (Call 07/15/22)^(b)		11,614		11,628,518
6.50%, 01/15/28 (Call 07/15/23)^(b)		12,949		12,851,882
7.25%, 02/11/24 (Call 02/11/21)^(b)		8,960		9,318,400
Wyndham Destinations Inc.
3.90%, 03/01/23 (Call 12/01/22)		7,070		6,900,085
4.25%, 03/01/22 (Call 12/01/21)		11,903		11,932,757
6.00%, 04/01/27 (Call 01/01/27)		9,861		10,187,311
6.63%, 07/31/26 (Call 04/30/26)^(b)		14,938		15,911,958
Wyndham Hotels & Resorts Inc.
4.38%, 08/15/28 (Call 08/15/23)^(a)(b)		14,744		14,654,355
5.38%, 04/15/26 (Call 04/15/21)^(b)		5,690		5,774,497
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)(b)		8,804		8,396,815
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		20,496		19,061,280
5.50%, 03/01/25 (Call 12/01/24)^(a)(b)		39,307		37,636,452
Wynn Macau Ltd.
4.88%, 10/01/24 (Call 11/30/20)^(b)		11,035		10,590,290
5.13%, 12/15/29 (Call 12/15/24)^(a)(b)		22,211		20,600,702
5.50%, 01/15/26 (Call 06/15/22)^(a)(b)		22,828		21,914,880
5.50%, 10/01/27 (Call 10/01/22)^(a)(b)		18,210		17,111,937
5.63%, 08/26/28 (Call 08/26/23)^(b)		12,395		11,877,302


				770,437,443

Machinery — 0.3%
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 04/15/21)^(a)(b)		14,838		14,856,547
Vertical Holdco GmbH, 7.63%, 07/15/28 (Call 07/15/23)^(a)(b)		10,535		10,932,257
Vertical U.S. Newco Inc., 5.25%, 07/15/27 (Call 07/15/23)^(a)(b)		33,972		34,948,695


				60,737,499


Security	Par (000)		Value

Manufacturing — 0.8%
Bombardier Inc.
5.75%, 03/15/22^(b)	$	9,613	$	9,161,189
6.00%, 10/15/22 (Call 11/30/20)^(a)(b)		25,526		22,781,955
6.13%, 01/15/23^(a)(b)		28,209		24,056,988
7.50%, 12/01/24 (Call 12/01/20)^(b)		20,919		15,574,196
7.50%, 03/15/25 (Call 11/30/20)^(a)(b)		32,308		23,423,300
7.88%, 04/15/27 (Call 04/15/22)^(a)(b)		45,886		33,496,780
8.75%, 12/01/21^(a)(b)		21,453		21,341,444
FXI Holdings Inc.
7.88%, 11/01/24 (Call 11/30/20)^(b)		12,499		11,694,064
12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		16,458		17,198,610


				178,728,526

Media — 9.9%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)^(a)(b)		26,555		25,758,350
7.50%, 05/15/26 (Call 05/15/21)^(b)		65,044		67,889,675
AMC Networks Inc.
4.75%, 12/15/22 (Call 11/30/20)^(a)		7,175		7,160,381
4.75%, 08/01/25 (Call 08/01/21)^(a)		17,854		17,855,250
5.00%, 04/01/24 (Call 11/30/20)		21,860		21,976,077
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 11/16/20)^(a)(b)		13,621		13,757,210
4.25%, 02/01/31 (Call 07/01/25)^(b)		61,284		62,835,484
4.50%, 08/15/30 (Call 02/15/25)^(b)		69,043		71,735,677
4.50%, 05/01/32 (Call 05/01/26)^(b)		53,757		55,571,299
4.75%, 03/01/30 (Call 09/01/24)^(b)		72,148		75,871,097
5.00%, 02/01/28 (Call 08/01/22)^(a)(b)		59,475		62,523,094
5.13%, 05/01/27 (Call 05/01/22)^(a)(b)		76,028		79,829,400
5.38%, 05/01/25 (Call 11/06/20)^(b)		20,392		20,930,441
5.38%, 06/01/29 (Call 06/01/24)^(b)		36,883		39,720,686
5.50%, 05/01/26 (Call 05/01/21)^(a)(b)		36,091		37,497,376
5.75%, 02/15/26 (Call 02/15/21)^(a)(b)		59,408		61,660,157
5.88%, 05/01/27 (Call 05/01/21)^(a)(b)		19,896		20,778,984
Clear Channel Worldwide Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)^(a)(b)		26,851		26,119,257
9.25%, 02/15/24 (Call 02/15/21)		42,341		36,677,891
CSC Holdings LLC
3.38%, 02/15/31 (Call 02/15/26)^(a)(b)		22,044		21,186,532
4.13%, 12/01/30 (Call 12/01/25)^(a)(b)		23,482		23,775,431
4.63%, 12/01/30 (Call 12/01/25)^(b)		51,389		51,263,097
5.25%, 06/01/24^(a)		17,129		18,264,048
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		20,548		21,832,250
5.50%, 05/15/26 (Call 05/15/21)^(a)(b)		35,381		36,813,930
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		28,042		29,549,257
5.75%, 01/15/30 (Call 01/15/25)^(a)(b)		50,906		54,256,124
5.88%, 09/15/22^(a)		14,681		15,483,212
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		38,371		42,573,392
6.75%, 11/15/21^(a)		22,698		23,717,519
7.50%, 04/01/28 (Call 04/01/23)^(a)(b)		22,250		24,343,569
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(b)		67,981		39,683,909
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		37,980		15,429,375
DISH DBS Corp.
5.00%, 03/15/23^(a)		32,555		32,724,667
5.88%, 07/15/22		44,715		45,960,630
5.88%, 11/15/24^(a)		45,331		45,642,651
7.38%, 07/01/28 (Call 07/01/23)		21,259		21,365,295
7.75%, 07/01/26^(a)		43,895		46,638,437


Security	Par (000)		Value

Media (continued)
Gray Television Inc.
4.75%, 10/15/30 (Call 10/15/25)^(b)	$	13,605	$	13,358,409
5.88%, 07/15/26 (Call 07/15/21)^(a)(b)		17,328		18,011,035
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)		19,760		21,294,439
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		10,515		10,058,811
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		15,325		15,159,643
6.38%, 05/01/26 (Call 05/01/22)^(a)		16,478		17,157,611
8.38%, 05/01/27 (Call 05/01/22)^(a)		33,215		32,393,348
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 (Call 10/15/22)^(a)(b)		28,561		30,348,919
Meredith Corp., 6.88%, 02/01/26 (Call 02/01/21)^(a)		28,324		23,438,110
Nexstar Broadcasting Inc.
4.75%, 11/01/28 (Call 11/01/23)^(a)(b)		19,671		19,835,007
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		42,965		44,791,012
Quebecor Media Inc., 5.75%, 01/15/23^(a)		18,824		20,216,976
Radiate Holdco LLC/Radiate Finance Inc.
4.50%, 09/15/26 (Call 09/15/23)^(b)		18,634		18,701,936
6.50%, 09/15/28 (Call 09/15/23)^(a)(b)		23,320		24,048,750
Sinclair Television Group Inc.
5.13%, 02/15/27 (Call 08/15/21)^(a)(b)		8,830		8,322,275
5.50%, 03/01/30 (Call 12/01/24)^(a)(b)		10,466		9,840,657
5.63%, 08/01/24 (Call 11/16/20)^(a)(b)		9,716		9,690,246
Sirius XM Radio Inc.
3.88%, 08/01/22 (Call 11/30/20)^(a)(b)		20,459		20,612,443
4.13%, 07/01/30 (Call 07/01/25)^(a)(b)		35,746		36,779,774
4.63%, 07/15/24 (Call 07/15/21)^(a)(b)		31,556		32,540,547
5.00%, 08/01/27 (Call 08/01/22)^(b)		32,432		33,989,060
5.38%, 07/15/26 (Call 07/15/21)^(a)(b)		19,300		20,100,178
5.50%, 07/01/29 (Call 07/01/24)^(a)(b)		26,651		29,013,611
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)^(a)(b)		20,645		20,383,428
4.75%, 03/15/26 (Call 03/15/23)^(a)(b)		11,019		11,319,543
5.00%, 09/15/29 (Call 09/15/24)^(a)		26,563		26,895,037
Telenet Finance Luxembourg Note Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(b)		26,200		27,488,168
Univision Communications Inc.
5.13%, 02/15/25 (Call 11/10/20)^(a)(b)		30,714		30,203,533
6.63%, 06/01/27 (Call 06/01/23)^(b)		34,430		34,712,949
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(b)		1,210		1,249,325
ViacomCBS Inc.
5.88%, 02/28/57 (Call 02/28/22)^(a)(c)		9,976		10,065,285
6.25%, 02/28/57 (Call 02/28/27)^(c)		15,613		16,997,483
Videotron Ltd.
5.00%, 07/15/22^(a)		16,214		16,943,778
5.13%, 04/15/27 (Call 04/15/22)^(a)(b)		12,317		13,040,624
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		12,043		13,080,009
Virgin Media Finance PLC, 5.00%, 07/15/30 (Call 07/15/25)^(a)(b)		21,273		21,166,635
Virgin Media Secured Finance PLC
4.50%, 08/15/30 (Call 08/15/25)^(a)(b)		14,307		14,541,166
5.50%, 08/15/26 (Call 08/15/21)^(a)(b)		15,896		16,537,404
5.50%, 05/15/29 (Call 05/15/24)^(a)(b)		34,350		36,656,359
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 07/15/23)^(b)		7,350		7,321,974
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)(b)		11,319		11,611,372
6.00%, 01/15/27 (Call 01/15/22)^(b)		11,867		12,312,013


Security	Par (000)		Value

Media (continued)
Ziggo BV
4.88%, 01/15/30 (Call 10/15/24)^(a)(b)	$	16,050	$	16,641,844
5.50%, 01/15/27 (Call 01/15/22)^(b)		40,404		41,919,150


				2,327,440,987

Mining — 1.7%
Alcoa Nederland Holding BV
5.50%, 12/15/27 (Call 06/15/23)^(a)(b)		18,526		19,491,238
6.13%, 05/15/28 (Call 05/15/23)^(a)(b)		12,913		13,807,641
6.75%, 09/30/24 (Call 11/30/20)^(b)		15,003		15,445,589
7.00%, 09/30/26 (Call 09/30/21)^(b)		6,710		7,062,275
Arconic Corp.
6.00%, 05/15/25 (Call 05/15/22)^(b)		12,915		13,673,756
6.13%, 02/15/28 (Call 02/15/23)^(b)		14,248		15,038,906
Constellium SE
5.75%, 05/15/24 (Call 11/30/20)^(b)		6,476		6,558,310
5.88%, 02/15/26 (Call 11/30/20)^(a)(b)		13,714		13,917,996
6.63%, 03/01/25 (Call 11/30/20)^(a)(b)		13,092		13,307,263
FMG Resources August 2006 Pty Ltd.
4.50%, 09/15/27 (Call 06/15/27)^(b)		13,476		14,383,517
4.75%, 05/15/22 (Call 02/15/22)^(a)(b)		13,635		13,958,150
5.13%, 03/15/23 (Call 12/15/22)^(b)		9,959		10,376,033
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		15,874		16,933,748
Freeport-McMoRan Inc.
3.55%, 03/01/22 (Call 12/01/21)^(a)		8,670		8,781,988
3.88%, 03/15/23 (Call 12/15/22)		32,129		33,173,192
4.13%, 03/01/28 (Call 03/01/23)		17,215		17,602,337
4.25%, 03/01/30 (Call 03/01/25)^(a)		13,193		13,786,685
4.38%, 08/01/28 (Call 08/01/23)		10,415		10,870,656
4.55%, 11/14/24 (Call 08/14/24)^(a)		13,687		14,703,005
4.63%, 08/01/30 (Call 08/01/25)^(a)		18,543		19,910,546
5.00%, 09/01/27 (Call 09/01/22)^(a)		11,835		12,340,355
5.25%, 09/01/29 (Call 09/01/24)		12,619		13,633,568
Novelis Corp.
4.75%, 01/30/30 (Call 01/30/25)^(a)(b)		36,246		36,802,920
5.88%, 09/30/26 (Call 09/30/21)^(a)(b)		31,290		32,287,525


				387,847,199

Office & Business Equipment — 0.5%
CDW LLC/CDW Finance Corp.
3.25%, 02/15/29 (Call 02/15/23)		15,226		15,169,519
4.13%, 05/01/25 (Call 05/01/22)		12,256		12,727,243
4.25%, 04/01/28 (Call 10/01/22)^(a)		15,018		15,536,421
5.50%, 12/01/24 (Call 06/01/24)		12,552		13,839,208
Pitney Bowes Inc.
4.63%, 03/15/24 (Call 12/15/23)		317		305,905
5.38%, 05/15/22 (Call 04/15/22)		23		23,230
Xerox Corp., 4.38%, 03/15/23 (Call 02/15/23)		21,387		22,284,719
Xerox Holdings Corp.
5.00%, 08/15/25 (Call 07/15/25)^(b)		15,725		15,466,167
5.50%, 08/15/28 (Call 07/15/28)^(b)		17,512		17,209,591


				112,562,003

Oil & Gas — 6.9%
Aker BP ASA
4.75%, 06/15/24 (Call 06/15/21)^(b)		766		787,009
5.88%, 03/31/25 (Call 03/31/21)^(a)(b)		8,496		8,769,571
Antero Resources Corp.
5.00%, 03/01/25 (Call 11/30/20)^(a)		12,393		9,198,704
5.13%, 12/01/22 (Call 11/30/20)		11,663		10,817,433
5.38%, 11/01/21 (Call 11/30/20)^(a)		18,572		18,609,144
5.63%, 06/01/23 (Call 11/30/20)^(a)		12,305		10,375,935


Security	Par (000)		Value

Oil & Gas (continued)
Apache Corp.
4.25%, 01/15/30 (Call 10/15/29)	$	8,128	$	7,198,360
4.38%, 10/15/28 (Call 07/15/28)^(a)		14,613		13,389,161
4.63%, 11/15/25 (Call 08/15/25)^(a)		15,410		14,600,975
4.88%, 11/15/27 (Call 05/15/27)^(a)		20,346		19,205,810
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.00%, 11/01/26 (Call 11/01/21)^(b)		14,861		13,189,137
9.00%, 11/01/27 (Call 11/01/26)^(b)		12,183		11,817,510
Callon Petroleum Co.
6.13%, 10/01/24 (Call 11/30/20)		9,561		3,218,870
6.25%, 04/15/23 (Call 11/30/20)		6,128		2,327,108
6.38%, 07/01/26 (Call 07/01/21)		6,304		1,463,429
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 10/15/21)^(a)(b)		11,646		11,284,392
Cenovus Energy Inc.
3.00%, 08/15/22 (Call 05/15/22)		7,978		7,897,662
3.80%, 09/15/23 (Call 06/15/23)		8,959		9,050,395
4.25%, 04/15/27 (Call 01/15/27)		21,991		22,388,157
5.38%, 07/15/25 (Call 04/15/25)^(a)		20,351		21,444,866
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/21)^(b)		29,713		24,884,637
CITGO Petroleum Corp.
6.25%, 08/15/22 (Call 11/30/20)^(b)		11,830		11,386,375
7.00%, 06/15/25 (Call 06/15/22)^(b)		25,194		23,369,954
Comstock Resources Inc.
7.50%, 05/15/25 (Call 11/30/20)^(b)		12,914		12,819,296
9.75%, 08/15/26 (Call 08/15/21)		19,259		20,306,208
9.75%, 08/15/26 (Call 08/15/21)^(a)		15,955		16,822,553
Continental Resources Inc./OK
3.80%, 06/01/24 (Call 03/01/24)		20,451		19,044,994
4.38%, 01/15/28 (Call 10/15/27)^(a)		23,171		20,799,284
4.50%, 04/15/23 (Call 01/15/23)		31,871		30,373,063
5.00%, 09/15/22 (Call 11/30/20)		21,186		20,877,576
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 11/30/20)^(b)		24,822		24,387,615
CVR Energy Inc.
5.25%, 02/15/25 (Call 02/15/22)^(b)		11,971		8,708,903
5.75%, 02/15/28 (Call 02/15/23)^(b)		9,605		6,575,423
Endeavor Energy Resources LP/EER Finance Inc.
5.50%, 01/30/26 (Call 01/30/21)^(b)		11,878		11,983,582
5.75%, 01/30/28 (Call 01/30/23)^(a)(b)		22,921		23,790,089
6.63%, 07/15/25 (Call 07/15/22)^(a)(b)		9,382		9,769,008
EQT Corp.
3.00%, 10/01/22 (Call 09/01/22)^(a)		13,559		13,529,170
3.90%, 10/01/27 (Call 07/01/27)		29,125		27,969,320
7.88%, 02/01/25 (Call 01/01/25)^(a)		22,975		25,559,687
8.75%, 02/01/30 (Call 11/01/29)		18,256		22,705,900
Gulfport Energy Corp.
6.00%, 10/15/24 (Call 11/30/20)		18,235		10,044,445
6.38%, 05/15/25 (Call 11/30/20)		13,034		7,166,890
Hilcorp Energy I LP/Hilcorp Finance Co.
5.00%, 12/01/24 (Call 11/30/20)^(b)		8,798		8,074,914
5.75%, 10/01/25 (Call 11/30/20)^(b)		9,986		9,199,603
6.25%, 11/01/28 (Call 11/01/23)^(b)		14,170		12,958,748
Laredo Petroleum Inc.
9.50%, 01/15/25 (Call 01/15/22)		13,349		6,190,599
10.13%, 01/15/28 (Call 01/15/23)^(a)		7,729		3,304,148
Leviathan Bond Ltd. 5.75%, 06/30/23 (Call 03/30/23)^(b)(f)		9,095		9,296,000


Security	Par (000)		Value

Oil & Gas (continued)
6.13%, 06/30/25 (Call 03/30/25)^(b)(f)	$	12,860	$	13,274,735
6.50%, 06/30/27 (Call 12/30/26)^(b)(f)		15,025		15,494,719
6.75%, 06/30/30 (Call 12/30/29)^(b)(f)		10,470		10,747,979
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21)		22,118		17,887,932
MEG Energy Corp.
6.50%, 01/15/25 (Call 11/30/20)^(b)		9,443		9,225,811
7.00%, 03/31/24 (Call 11/30/20)^(b)		12,345		11,671,169
7.13%, 02/01/27 (Call 02/01/23)^(b)		26,742		24,060,580
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 01/15/21)^(b)		16,686		8,343,000
10.50%, 05/15/27 (Call 05/15/22)^(a)(b)		9,718		5,005,318
Murphy Oil Corp.
4.95%, 12/01/22 (Call 09/01/22)		161		153,916
5.75%, 08/15/25 (Call 11/30/20)		10,302		8,461,960
5.88%, 12/01/27 (Call 12/01/22)		13,812		10,911,756
6.88%, 08/15/24 (Call 11/30/20)^(a)		10,487		9,246,435
Nabors Industries Inc.
5.50%, 01/15/23 (Call 11/15/22)^(a)		1,713		856,500
5.75%, 02/01/25 (Call 11/01/24)		9,513		2,616,075
Nabors Industries Ltd.
7.25%, 01/15/26 (Call 07/15/22)^(a)(b)		13,832		5,435,976
7.50%, 01/15/28 (Call 01/15/23)^(b)		12,667		5,066,800
Occidental Petroleum Corp.
2.70%, 08/15/22		24,020		22,112,860
2.70%, 02/15/23 (Call 11/15/22)		16,602		14,858,790
2.90%, 08/15/24 (Call 07/15/24)^(a)		66,183		55,117,202
3.00%, 02/15/27 (Call 11/15/26)		16,484		12,445,420
3.20%, 08/15/26 (Call 06/15/26)^(a)		24,813		19,199,059
3.40%, 04/15/26 (Call 01/15/26)		27,126		21,217,415
3.50%, 06/15/25 (Call 03/15/25)		17,014		13,691,166
3.50%, 08/15/29 (Call 05/15/29)		28,570		20,612,112
5.55%, 03/15/26 (Call 12/15/25)		23,581		20,562,632
5.88%, 09/01/25 (Call 06/01/25)^(a)		20,145		17,727,600
6.38%, 09/01/28 (Call 03/01/28)^(a)		15,000		13,039,286
6.63%, 09/01/30 (Call 03/01/30)^(a)		20,284		17,810,366
6.95%, 07/01/24		8,439		8,043,422
7.50%, 05/01/31		18,415		16,803,687
7.88%, 09/15/31		10,369		9,511,398
8.00%, 07/15/25 (Call 04/15/25)^(a)		10,905		10,632,375
8.50%, 07/15/27 (Call 01/15/27)		23,520		22,524,923
8.88%, 07/15/30 (Call 01/15/30)^(a)		30,320		29,713,600
Parkland Corp.
5.88%, 07/15/27 (Call 07/15/22)^(b)		11,025		11,404,701
6.00%, 04/01/26 (Call 04/01/21)^(b)		8,365		8,668,231
Parsley Energy LLC/Parsley Finance Corp.
4.13%, 02/15/28 (Call 02/15/23)^(a)(b)		6,595		6,878,915
5.25%, 08/15/25 (Call 11/30/20)^(b)		8,169		8,403,859
5.38%, 01/15/25 (Call 11/30/20)^(a)(b)		11,366		11,601,213
5.63%, 10/15/27 (Call 10/15/22)^(b)		17,549		18,667,749
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		22,293		8,457,407
7.25%, 06/15/25 (Call 11/30/20)		16,469		6,834,635
9.25%, 05/15/25 (Call 05/15/22)^(b)		21,154		18,743,954
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/15/21)		17,491		16,485,267
6.13%, 09/15/24 (Call 11/30/20)		5,701		5,450,156
Puma International Financing SA
5.00%, 01/24/26 (Call 01/24/21)^(b)		10,170		8,329,060
5.13%, 10/06/24 (Call 11/10/20)^(b)		9,356		7,888,013


Security	Par (000)		Value

Oil & Gas (continued)
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)	$	15,124	$	11,872,340
5.38%, 10/01/22 (Call 07/01/22)		8,833		7,585,339
5.63%, 03/01/26 (Call 12/01/25)^(a)		10,306		6,544,310
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)^(a)		15,646		14,550,780
5.00%, 08/15/22 (Call 05/15/22)^(a)		7,398		7,398,000
5.00%, 03/15/23 (Call 12/15/22)^(a)		9,224		8,949,309
9.25%, 02/01/26 (Call 02/01/22)^(b)		16,466		17,453,960
Seven Generations Energy Ltd.
5.38%, 09/30/25 (Call 11/30/20)^(a)(b)		14,155		13,531,755
6.75%, 05/01/23 (Call 11/30/20)^(b)		363		360,845
6.88%, 06/30/23 (Call 11/30/20)^(b)		74		74,000
SM Energy Co.
6.75%, 09/15/26 (Call 09/15/21)		6,845		2,532,650
10.00%, 01/15/25 (Call 06/17/22)^(b)		22,062		21,062,316
Southwestern Energy Co.
6.45%, 01/23/25 (Call 10/23/24)^(a)		16,306		16,367,147
7.50%, 04/01/26 (Call 04/01/21)^(a)		16,814		17,108,245
7.75%, 10/01/27 (Call 10/01/22)^(a)		8,221		8,498,459
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23 (Call 11/30/20)		19,335		19,426,841
5.50%, 02/15/26 (Call 02/15/21)^(a)		16,923		16,961,923
5.88%, 03/15/28 (Call 03/15/23)^(a)		8,742		9,069,825
6.00%, 04/15/27 (Call 04/15/22)		12,518		12,955,629
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)^(b)		14,742		8,992,628
Transocean Inc., 11.50%, 01/30/27 (Call 07/30/23)^(b)		4,225		1,396,785
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)^(a)(b)		12,249		10,784,330
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)^(b)		11,639		8,772,896
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/16/21)^(a)(b)		13,614		8,593,838
WPX Energy Inc.
4.50%, 01/15/30 (Call 01/15/25)^(a)		22,021		21,140,160
5.25%, 09/15/24 (Call 06/15/24)		7,295		7,577,681
5.25%, 10/15/27 (Call 10/15/22)		12,870		12,871,055
5.75%, 06/01/26 (Call 06/01/21)		7,831		8,046,353
5.88%, 06/15/28 (Call 06/15/23)		10,095		10,349,058
8.25%, 08/01/23 (Call 06/01/23)		1,974		2,215,815


				1,613,873,018

Oil & Gas Services — 0.4%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)^(b)		12,775		12,327,875
6.88%, 04/01/27 (Call 04/01/22)^(b)		8,205		8,061,412
SESI LLC, 7.13%, 12/15/21 (Call 11/30/20)^(a)(b)		13,924		3,202,520
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 12/01/20)^(a)(b)		6,113		5,409,651
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 04/01/21)		16,213		16,104,454
6.88%, 09/01/27 (Call 09/01/22)		15,613		15,694,344
Weatherford International Ltd.
8.75%, 09/01/24 (Call 08/28/21)^(b)		6,950		6,771,385
11.00%, 12/01/24 (Call 12/01/21)^(a)(b)		48,308		28,562,105


				96,133,746


Security	Par (000)		Value

Packaging & Containers — 2.5%
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)(b)	$	24,532	$	25,041,581
5.25%, 04/30/25 (Call 04/30/22)^(a)(b)		11,175		11,692,738
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		43,186		44,333,128
6.00%, 02/15/25 (Call 11/10/20)^(b)		11,725		12,112,014
Ball Corp.
2.88%, 08/15/30 (Call 05/15/30)		25,844		25,498,983
4.00%, 11/15/23^(a)		23,703		25,018,753
4.88%, 03/15/26 (Call 12/15/25)^(a)		17,576		19,605,480
5.00%, 03/15/22		19,373		20,172,136
5.25%, 07/01/25		23,606		26,713,730
Berry Global Inc.
4.50%, 02/15/26 (Call 02/15/21)^(a)(b)		10,438		10,577,452
4.88%, 07/15/26 (Call 07/15/22)^(b)		26,648		27,900,456
5.13%, 07/15/23 (Call 11/30/20)^(a)		1,084		1,097,279
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		11,147		11,682,279
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23^(a)		22,200		23,078,185
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)^(a)		8,841		9,420,085
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/21)^(a)		17,016		17,606,242
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 11/30/20)^(a)(b)		12,450		12,190,226
7.88%, 07/15/26 (Call 07/15/21)^(a)(b)		12,731		12,895,230
Graphic Packaging International LLC, 3.50%, 03/15/28^(b)		9,693		9,683,889
LABL Escrow Issuer LLC
6.75%, 07/15/26 (Call 07/15/22)^(a)(b)		14,365		15,059,769
10.50%, 07/15/27 (Call 07/15/22)^(a)(b)		16,261		17,317,965
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 11/30/20)^(a)(b)		30,791		30,776,097
7.25%, 04/15/25 (Call 11/30/20)^(a)(b)		30,542		29,368,097
Owens-Brockway Glass Container Inc.
5.88%, 08/15/23^(a)(b)		14,762		15,522,243
6.63%, 05/13/27 (Call 05/15/23)^(a)(b)		15,798		16,943,355
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
4.00%, 10/15/27 (Call 10/15/23)^(b)		24,400		24,678,619
5.13%, 07/15/23 (Call 11/30/20)^(a)(b)		1,661		1,681,762
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)(b)		10,441		10,936,947
4.88%, 12/01/22 (Call 09/01/22)^(a)(b)		8,373		8,764,176
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		9,004		9,825,615
5.25%, 04/01/23 (Call 01/01/23)^(b)		8,417		8,890,456
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		8,160		9,093,300
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		22,310		23,329,567
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		16,557		17,677,358


				586,185,192

Pharmaceuticals — 3.3%
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)^(a)(b)		37,066		40,494,605
9.25%, 04/01/26 (Call 04/01/22)^(a)(b)		32,029		35,311,972
Bausch Health Companies Inc.
5.00%, 01/30/28 (Call 01/30/23)^(a)(b)		28,042		27,716,152
5.25%, 01/30/30 (Call 01/30/25)^(a)(b)		27,444		27,095,187
5.50%, 03/01/23 (Call 11/30/20)^(b)		165		164,587
5.50%, 11/01/25 (Call 11/30/20)^(a)(b)		41,259		42,364,741


Security	Par (000)		Value

Pharmaceuticals (continued)
5.75%, 08/15/27 (Call 08/15/22)^(a)(b)	$	9,089	$	9,747,952
5.88%, 05/15/23 (Call 11/30/20)^(b)		158		157,605
6.13%, 04/15/25 (Call 11/30/20)^(a)(b)		73,132		75,051,715
6.25%, 02/15/29 (Call 02/15/24)^(a)(b)		33,855		34,912,292
7.00%, 03/15/24 (Call 11/30/20)^(a)(b)		42,635		44,180,519
7.00%, 01/15/28 (Call 01/15/23)^(b)		15,036		15,907,404
7.25%, 05/30/29 (Call 05/30/24)^(b)		15,262		16,452,436
9.00%, 12/15/25 (Call 12/15/21)^(a)(b)		30,847		33,599,903
Elanco Animal Health Inc.
4.91%, 08/27/21^(a)		384		392,640
5.27%, 08/28/23 (Call 07/28/23)^(a)		14,344		15,509,051
5.90%, 08/28/28 (Call 05/28/28)^(a)		17,538		20,413,355
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 06/30/28 (Call 06/30/23)^(b)		27,904		21,193,088
9.50%, 07/31/27 (Call 07/31/23)^(a)(b)		20,198		21,666,597
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 09/01/22)^(b)		12,263		13,002,459
HLF Financing Sarl LLC/Herbalife International Inc., 7.25%, 08/15/26 (Call 08/15/21)^(b)		9,860		10,168,125
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.63%, 10/15/23 (Call 11/30/20)^(b)(g)		6,544		2,126,800
5.75%, 08/01/22 (Call 11/30/20)^(b)(g)		8,403		2,811,298
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)^(b)		43,798		46,425,880
Teva Pharmaceutical Finance Netherlands III BV
2.20%, 07/21/21		63		62,156
2.80%, 07/21/23^(a)		69,287		65,713,177
3.15%, 10/01/26^(a)		78,673		69,176,382
6.00%, 04/15/24 (Call 01/15/24)		25,830		26,036,640
6.75%, 03/01/28 (Call 12/01/27)^(a)		27,219		28,571,784
7.13%, 01/31/25 (Call 10/31/24)		21,067		21,830,679


				768,257,181

Pipelines — 3.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 09/15/24 (Call 11/16/20)		10,816		10,115,123
5.75%, 03/01/27 (Call 03/01/22)^(b)		13,814		12,432,600
5.75%, 01/15/28 (Call 01/15/23)^(b)		16,304		14,488,328
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.13%, 11/15/22 (Call 11/30/20)^(b)		13,666		13,324,350
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)		13,378		12,441,540
4.13%, 03/01/25 (Call 02/01/25)^(b)		9,391		8,874,495
4.13%, 12/01/27 (Call 09/01/27)		9,873		9,165,435
4.15%, 07/01/23 (Call 04/01/23)		10,110		9,996,263
4.50%, 03/01/28 (Call 12/01/27)^(b)		11,923		11,326,850
6.38%, 01/22/78 (Call 01/22/23)^(c)		7,917		5,114,382
Cheniere Energy Inc., 4.63%, 10/15/28 (Call 10/15/23)^(b)		39,053		40,230,128
Cheniere Energy Partners LP
5.25%, 10/01/25 (Call 11/30/20)		31,521		32,063,161
5.63%, 10/01/26 (Call 10/01/21)		23,781		24,345,799
Series WI, 4.50%, 10/01/29 (Call 10/01/24)^(a)		33,598		34,227,962
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/01/22)^(a)(b)		13,545		11,835,892
5.75%, 04/01/25 (Call 11/30/20)^(a)		9,991		9,058,507
6.25%, 04/01/23 (Call 11/16/20)		13,304		12,870,689


Security	Par (000)		Value

Pipelines (continued)
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)	$	8,181	$	8,189,522
4.75%, 09/30/21 (Call 06/30/21)^(b)		122		122,427
5.13%, 05/15/29 (Call 02/15/29)^(a)		12,859		12,781,795
5.38%, 07/15/25 (Call 04/15/25)		17,366		18,234,300
5.63%, 07/15/27 (Call 04/15/27)^(a)		12,298		12,789,920
5.85%, 05/21/43 (Call 05/21/23)^(b)(c)		11,189		8,238,523
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)		14,341		12,320,192
4.40%, 04/01/24 (Call 01/01/24)		11,810		10,693,483
4.85%, 07/15/26 (Call 04/15/26)^(a)		10,959		9,366,657
EQM Midstream Partners LP
4.00%, 08/01/24 (Call 05/01/24)		7,244		7,027,984
4.13%, 12/01/26 (Call 09/01/26)		9,524		9,044,943
4.75%, 07/15/23 (Call 06/15/23)		22,913		22,779,250
6.00%, 07/01/25 (Call 04/01/25)^(b)		12,224		12,468,480
6.50%, 07/01/27 (Call 01/01/27)^(a)(b)		20,826		21,871,673
Series 10Y, 5.50%, 07/15/28 (Call 04/15/28)		21,922		22,248,199
Genesis Energy LP/Genesis Energy Finance Corp.
6.00%, 05/15/23 (Call 11/30/20)		2,785		2,541,313
6.25%, 05/15/26 (Call 02/15/21)		7,349		5,911,352
6.50%, 10/01/25 (Call 11/30/20)		10,270		8,555,834
7.75%, 02/01/28 (Call 02/01/23)		16,693		13,855,190
Global Partners LP/GLP Finance Corp., 7.00%, 08/01/27 (Call 08/01/22)		344		354,124
Hess Midstream Operations LP
5.13%, 06/15/28 (Call 06/15/23)^(b)		10,691		10,600,127
5.63%, 02/15/26 (Call 02/15/21)^(b)		17,337		17,337,000
New Fortress Energy Inc., 6.75%, 09/15/25 (Call 09/15/22)^(b)		16,739		17,195,807
NGL Energy Partners LP/NGL Energy Finance Corp.
7.50%, 11/01/23 (Call 11/30/20)		15,210		8,213,400
7.50%, 04/15/26 (Call 04/15/22)^(a)		6,758		3,345,210
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)		12,065		11,759,605
5.75%, 10/01/25 (Call 07/01/25)^(a)		12,250		12,300,286
6.00%, 06/01/26 (Call 03/01/26)		9,942		9,855,008
6.38%, 10/01/30 (Call 04/01/30)^(a)		13,468		13,540,525
Rockies Express Pipeline LLC
3.60%, 05/15/25 (Call 04/15/25)^(b)		4,910		4,890,398
4.95%, 07/15/29 (Call 04/15/29)^(b)		13,075		12,898,706
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
4.75%, 10/01/23 (Call 11/30/20)^(b)		10,551		10,076,205
5.50%, 09/15/24 (Call 11/30/20)^(b)		15,968		15,293,143
5.50%, 01/15/28 (Call 01/15/23)^(b)		18,232		16,769,794
6.00%, 03/01/27 (Call 03/01/23)^(b)		10,962		10,326,204
7.50%, 10/01/25 (Call 10/01/22)^(b)		8,051		8,131,510
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23 (Call 11/30/20)		10,628		10,641,285
4.88%, 02/01/31 (Call 02/01/26)^(a)(b)		18,626		18,169,995
5.00%, 01/15/28 (Call 01/15/23)		17,079		16,829,932
5.13%, 02/01/25 (Call 11/30/20)		8,380		8,400,950
5.25%, 05/01/23 (Call 11/02/20)		17,551		17,551,000
5.38%, 02/01/27 (Call 02/01/22)^(a)		9,631		9,679,155
5.50%, 03/01/30 (Call 03/01/25)^(b)		22,589		22,662,414
5.88%, 04/15/26 (Call 04/15/21)^(a)		20,181		20,635,072
6.50%, 07/15/27 (Call 07/15/22)		13,715		14,456,857
6.88%, 01/15/29 (Call 01/15/24)		12,470		13,365,746


Security	Par (000)		Value

Pipelines (continued)
Western Midstream Operating LP
3.95%, 06/01/25 (Call 03/01/25)	$	10,403	$	9,567,431
4.00%, 07/01/22 (Call 04/01/22)		9,530		9,540,292
4.10%, 02/01/25 (Call 01/01/25)		21,067		19,968,183
4.50%, 03/01/28 (Call 12/01/27)		8,687		8,082,124
4.65%, 07/01/26 (Call 04/01/26)		10,700		10,271,080
4.75%, 08/15/28 (Call 05/15/28)		8,290		7,655,027
5.05%, 02/01/30 (Call 11/01/29)		26,814		25,572,083


				916,888,219

Real Estate — 0.4%
Howard Hughes Corp. (The)
5.38%, 03/15/25 (Call 11/30/20)^(b)		24,668		24,745,088
5.38%, 08/01/28 (Call 08/01/23)^(a)(b)		15,558		15,713,580
Kennedy-Wilson Inc., 5.88%, 04/01/24 (Call 11/30/20)^(a)		25,870		25,274,990
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)(b)		7,544		7,525,140
7.63%, 06/15/25 (Call 06/15/22)^(b)		6,753		7,132,856
9.38%, 04/01/27 (Call 04/01/22)^(b)		16,267		17,263,354


				97,655,008

Real Estate Investment Trusts — 3.7%
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26 (Call 05/15/22)^(a)(b)		172		142,760
Diversified Healthcare Trust
4.75%, 02/15/28 (Call 08/15/27)^(a)		11,213		9,951,538
9.75%, 06/15/25 (Call 06/15/22)		21,576		23,760,570
ESH Hospitality Inc.
4.63%, 10/01/27 (Call 10/01/22)^(b)		17,892		17,520,421
5.25%, 05/01/25 (Call 11/30/20)^(a)(b)		27,736		27,740,759
HAT Holdings I LLC/HAT Holdings II LLC
5.25%, 07/15/24 (Call 07/15/21)^(b)		6,498		6,725,430
6.00%, 04/15/25 (Call 04/15/22)^(b)		6,246		6,581,723
Iron Mountain Inc.
4.50%, 02/15/31 (Call 02/15/26)^(b)		28,448		28,258,878
4.88%, 09/15/27 (Call 09/15/22)^(b)		17,178		17,469,511
4.88%, 09/15/29 (Call 09/15/24)^(a)(b)		23,176		23,300,455
5.00%, 07/15/28 (Call 07/15/23)^(a)(b)		6,525		6,637,610
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		14,638		14,990,739
5.25%, 07/15/30 (Call 07/15/25)^(b)		31,945		32,743,625
5.63%, 07/15/32 (Call 07/15/26)^(b)		12,222		12,649,770
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)		13,374		12,301,004
4.75%, 10/01/24 (Call 07/01/24)		16,295		15,575,315
5.50%, 02/15/26 (Call 08/15/22)		8,503		8,018,499
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(b)		11,635		10,020,644
5.25%, 03/15/22 (Call 09/15/21)^(b)		8,851		8,597,231
5.25%, 10/01/25 (Call 11/16/20)^(b)		4,270		3,896,375
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
4.50%, 09/01/26 (Call 06/01/26)^(a)		10,687		10,909,290
4.63%, 06/15/25 (Call 03/15/25)^(a)(b)		16,845		17,130,828
5.63%, 05/01/24 (Call 02/01/24)^(a)		22,274		23,426,680
5.75%, 02/01/27 (Call 11/01/26)		17,440		18,791,600
MPT Operating Partnership LP/MPT Finance Corp.
4.63%, 08/01/29 (Call 08/01/24)^(a)		19,944		20,999,237
5.00%, 10/15/27 (Call 10/15/22)		31,858		33,261,345


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
5.25%, 08/01/26 (Call 08/01/21)^(a)	$	7,383	$	7,610,363
6.38%, 03/01/24 (Call 11/30/20)		6,626		6,768,790
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
5.88%, 10/01/28 (Call 10/01/23)^(a)(b)		17,975		17,651,531
7.50%, 06/01/25 (Call 06/01/22)^(b)		5,459		5,717,620
RHP Hotel Properties LP/RHP Finance Corp.
4.75%, 10/15/27 (Call 10/15/22)^(a)		16,320		14,932,800
5.00%, 04/15/23 (Call 11/30/20)^(a)		7,276		7,112,996
SBA Communications Corp.
3.88%, 02/15/27 (Call 02/15/23)^(b)		33,674		34,263,295
4.00%, 10/01/22 (Call 11/30/20)^(a)		13,634		13,740,915
4.88%, 09/01/24 (Call 11/30/20)^(a)		22,265		22,813,832
Service Properties Trust
3.95%, 01/15/28 (Call 07/15/27)		10,915		8,535,530
4.35%, 10/01/24 (Call 09/01/24)		15,225		13,450,194
4.38%, 02/15/30 (Call 08/15/29)^(a)		5,832		4,771,305
4.50%, 06/15/23 (Call 12/15/22)		7,492		7,180,295
4.75%, 10/01/26 (Call 08/01/26)		10,195		8,752,306
4.95%, 02/15/27 (Call 08/15/26)^(a)		9,345		7,906,394
4.95%, 10/01/29 (Call 07/01/29)		9,439		7,734,736
5.00%, 08/15/22 (Call 02/15/22)^(a)		3,384		3,350,742
7.50%, 09/15/25 (Call 06/15/25)^(a)		24,903		26,042,260
Starwood Property Trust Inc.
4.75%, 03/15/25 (Call 09/15/24)^(a)		11,299		10,988,503
5.00%, 12/15/21 (Call 09/15/21)		12,999		12,966,503
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
7.13%, 12/15/24 (Call 11/30/20)^(a)(b)		12,045		11,516,767
7.88%, 02/15/25 (Call 02/15/22)^(b)		50,764		53,810,454
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
6.00%, 04/15/23 (Call 11/30/20)^(b)		10,212		10,352,415
8.25%, 10/15/23 (Call 11/30/20)		25,930		25,520,576
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 02/15/22)^(b)		14,718		14,726,669
3.75%, 02/15/27 (Call 02/15/23)^(b)		15,364		15,402,410
4.13%, 08/15/30 (Call 02/15/25)^(b)		23,713		24,009,412
4.25%, 12/01/26 (Call 12/01/22)^(a)(b)		26,539		27,036,606
4.63%, 12/01/29 (Call 12/01/24)^(a)(b)		23,159		24,101,571


				860,169,627

Retail — 4.0%
1011778 BC ULC/New Red Finance Inc.
3.50%, 02/15/29 (Call 02/15/24)^(b)		9,875		9,800,938
3.88%, 01/15/28 (Call 09/15/22)^(a)(b)		16,662		16,851,899
4.00%, 10/15/30 (Call 10/15/25)^(b)		46,405		45,998,956
4.25%, 05/15/24 (Call 11/30/20)^(b)		32,913		33,571,260
4.38%, 01/15/28 (Call 11/15/22)^(a)(b)		16,332		16,536,150
5.00%, 10/15/25 (Call 11/13/20)^(b)		34,909		35,795,689
5.75%, 04/15/25 (Call 04/15/22)^(a)(b)		10,096		10,760,721
Asbury Automotive Group Inc., 4.75%, 03/01/30 (Call 03/01/25)^(a)(b)		200		206,500
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 11/30/20)^(b)		31,307		30,712,167
Carvana Co.
5.63%, 10/01/25 (Call 10/01/22)^(a)(b)		12,570		12,397,163
5.88%, 10/01/28 (Call 10/01/23)^(b)		13,680		13,462,078
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/15/21)^(a)(b)		18,560		18,188,800
8.50%, 10/30/25 (Call 10/30/21)^(a)(b)		12,404		12,822,511


Security	Par (000)		Value

Retail (continued)
Ferrellgas LP/Ferrellgas Finance Corp.
6.75%, 01/15/22 (Call 11/30/20)^(a)	$	6,125	$	5,614,584
6.75%, 06/15/23 (Call 11/16/20)^(a)		6,912		6,215,040
10.00%, 04/15/25 (Call 04/15/22)^(a)(b)		12,210		13,324,163
Gap Inc. (The)
8.38%, 05/15/23^(b)		9,672		10,809,427
8.63%, 05/15/25 (Call 05/15/22)^(b)		13,325		14,660,213
8.88%, 05/15/27 (Call 05/15/23)^(a)(b)		25,639		29,348,963
Golden Nugget Inc.
6.75%, 10/15/24 (Call 11/30/20)^(b)		28,124		23,849,715
8.75%, 10/01/25 (Call 11/30/20)^(a)(b)		16,118		13,206,686
IRB Holding Corp.
6.75%, 02/15/26 (Call 02/15/21)^(b)		11,637		11,684,794
7.00%, 06/15/25 (Call 06/15/22)^(b)		15,641		16,657,822
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		16,222		16,817,996
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		23,167		23,948,886
L Brands Inc.
5.25%, 02/01/28^(a)		12,522		12,305,532
5.63%, 10/15/23^(a)		10,954		11,448,025
6.63%, 10/01/30 (Call 10/01/25)^(b)		14,772		15,510,600
6.88%, 07/01/25 (Call 07/01/22)^(a)(b)		15,832		16,979,820
7.50%, 06/15/29 (Call 06/15/24)		11,438		12,267,255
9.38%, 07/01/25^(b)		13,848		16,063,680
Lithia Motors Inc.
4.38%, 01/15/31 (Call 10/15/25)^(b)		5,450		5,681,625
4.63%, 12/15/27 (Call 12/15/22)^(b)		5,550		5,841,930
Macy’s Inc., 8.38%, 06/15/25 (Call 06/15/22)^(b)		28,283		29,520,381
Macy’s Retail Holdings LLC
2.88%, 02/15/23 (Call 11/15/22)		15,318		12,776,897
3.63%, 06/01/24 (Call 03/01/24)^(a)		13,387		10,248,150
3.88%, 01/15/22 (Call 10/15/21)^(a)		2,767		2,607,514
Penske Automotive Group Inc.
3.50%, 09/01/25 (Call 09/01/22)^(a)		11,208		11,236,020
5.50%, 05/15/26 (Call 05/15/21)^(a)		11,939		12,306,124
PetSmart Inc.
5.88%, 06/01/25 (Call 11/30/20)^(b)		23,562		23,970,732
7.13%, 03/15/23 (Call 11/30/20)^(b)		40,808		40,603,960
8.88%, 06/01/25 (Call 11/10/20)^(b)		15,237		15,384,799
QVC Inc.
4.38%, 03/15/23^(a)		13,488		13,976,940
4.38%, 09/01/28 (Call 06/01/28)		11,420		11,442,840
4.45%, 02/15/25 (Call 11/15/24)^(a)		12,186		12,605,198
4.75%, 02/15/27 (Call 11/15/26)^(a)		14,042		14,353,592
4.85%, 04/01/24^(a)		12,522		12,986,065
Rite Aid Corp.
7.50%, 07/01/25 (Call 07/01/22)^(a)(b)		12,039		12,039,000
8.00%, 11/15/26 (Call 01/15/23)^(b)		19,982		20,031,955
Sally Holdings LLC/Sally Capital Inc., 5.63%, 12/01/25 (Call 12/01/20)^(a)		15,995		15,851,045
Staples Inc.
7.50%, 04/15/26 (Call 04/15/22)^(b)		44,247		41,370,945
10.75%, 04/15/27 (Call 04/15/22)^(a)(b)		21,451		17,044,122
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 11/30/20)		9,777		9,884,058
Yum! Brands Inc.
3.63%, 03/15/31 (Call 12/15/30)		19,661		19,292,356
4.75%, 01/15/30 (Call 10/15/29)^(a)(b)		21,279		22,805,768


Security	Par (000)		Value

Retail (continued)
7.75%, 04/01/25 (Call 04/01/22)^(a)(b)	$	12,654	$	13,885,234


				935,565,283

Semiconductors — 0.3%
Microchip Technology Inc., 4.25%, 09/01/25 (Call 09/01/22)^(b)		27,400		28,324,750
Qorvo Inc.
3.38%, 04/01/31 (Call 04/01/26)^(b)		14,898		15,009,735
4.38%, 10/15/29 (Call 10/15/24)		20,957		22,425,876
Sensata Technologies UK Financing Co. PLC, 6.25%, 02/15/26 (Call 02/15/21)^(a)(b)		14,660		15,196,423


				80,956,784

Software — 1.9%
Black Knight InfoServ LLC, 3.63%, 09/01/28 (Call 09/01/23)^(b)		21,859		22,022,287
Boxer Parent Co. Inc., 7.13%, 10/02/25 (Call 06/01/22)^(b)		10,942		11,712,426
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)^(a)		14,738		15,264,147
5.00%, 10/15/24 (Call 07/15/24)^(a)		9,987		10,851,153
5.25%, 05/15/29 (Call 05/15/24)^(a)(b)		11,666		12,495,919
5.88%, 06/15/26 (Call 06/15/21)^(a)		5,169		5,378,370
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 11/10/20)^(a)(b)		31,136		31,083,692
Dun & Bradstreet Corp. (The), 6.88%, 08/15/26 (Call 02/15/22)^(b)		6,840		7,318,800
Dun & Bradstreet Corp./The, 10.25%, 02/15/27 (Call 02/15/22)^(a)(b)		5,210		5,825,995
MSCI Inc.
3.63%, 09/01/30 (Call 03/01/25)^(a)(b)		7,314		7,509,564
3.88%, 02/15/31 (Call 06/01/25)^(a)(b)		25,536		26,685,120
4.00%, 11/15/29 (Call 11/15/24)^(a)(b)		22,834		23,812,437
4.75%, 08/01/26 (Call 08/01/21)^(a)(b)		3,601		3,728,496
5.38%, 05/15/27 (Call 05/15/22)^(a)(b)		5,451		5,811,233
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(b)		19,381		19,636,829
5.88%, 06/01/26 (Call 06/01/21)^(a)(b)		13,724		14,286,302
Open Text Holdings Inc., 4.13%, 02/15/30 (Call 02/15/25)^(a)(b)		21,705		22,627,463
PTC Inc.
3.63%, 02/15/25 (Call 02/15/22)^(b)		9,922		10,060,650
4.00%, 02/15/28 (Call 02/15/23)^(b)		10,765		11,114,863
Rackspace Technology Global. Inc., 8.63%, 11/15/24 (Call 11/30/20)^(b)		35,772		37,297,279
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 11/30/20)^(a)(b)		46,370		48,166,837
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)^(a)(b)		45,888		48,756,000
Veritas U.S. Inc./Veritas Bermuda Ltd.
7.50%, 02/01/23 (Call 11/10/20)^(a)(b)		6,384		6,353,220
7.50%, 09/01/25 (Call 09/01/21)^(b)		21,648		21,951,505
10.50%, 02/01/24 (Call 11/10/20)^(a)(b)		20,182		18,718,805


				448,469,392

Telecommunications — 7.3%
Altice France Holding SA
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		24,520		23,548,395
10.50%, 05/15/27 (Call 05/15/22)^(a)(b)		35,950		39,634,875
Altice France SA/France
5.13%, 01/15/29 (Call 09/15/23)^(a)(b)		8,010		8,012,403
5.50%, 01/15/28 (Call 09/15/22)^(b)		25,146		25,491,758


Security	Par (000)		Value

Telecommunications (continued)
7.38%, 05/01/26 (Call 05/01/21)^(b)	$	122,245	$	127,587,106
8.13%, 02/01/27 (Call 02/01/22)^(b)		39,452		42,830,077
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)^(a)(b)		20,152		20,756,560
CenturyLink Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)(b)		27,398		28,048,703
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		28,436		29,006,853
5.63%, 04/01/25 (Call 01/01/25)^(a)		10,590		11,119,500
Series T, 5.80%, 03/15/22^(a)		29,353		30,527,120
Series W, 6.75%, 12/01/23		15,338		16,682,836
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(a)		22,163		24,442,021
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 11/30/20)^(a)(b)		18,496		19,100,281
CommScope Inc.
5.50%, 03/01/24 (Call 03/01/21)^(b)		23,834		24,380,197
6.00%, 03/01/26 (Call 03/01/22)^(b)		31,741		32,855,506
7.13%, 07/01/28 (Call 07/01/23)^(b)		14,715		14,724,859
8.25%, 03/01/27 (Call 03/01/22)^(a)(b)		22,130		22,959,875
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)^(a)(b)		14,266		13,330,008
6.00%, 06/15/25 (Call 11/10/20)^(a)(b)		35,825		35,564,552
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(b)		45,967		46,369,211
Consolidated Communications Inc., 6.50%, 10/01/28 (Call 10/01/23)^(a)(b)		780		801,450
Frontier Communications Corp.
5.88%, 10/15/27 (Call 10/15/23)^(a)(b)		7,680		7,858,406
8.50%, 04/01/26 (Call 04/01/21)^(a)(b)		28,309		28,485,931
Hughes Satellite Systems Corp.
5.25%, 08/01/26		16,165		17,375,759
6.63%, 08/01/26^(a)		16,383		17,816,513
7.63%, 06/15/21		681		701,430
Intelsat Jackson Holdings SA
8.00%, 02/15/24 (Call 11/30/20)^(a)(b)		24,990		25,364,850
9.50%, 09/30/22^(b)		7,476		8,152,354
Intrado Corp., 8.50%, 10/15/25 (Call 11/30/20)^(b)		23,213		20,899,592
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(b)(c)		11,908		12,391,515
Level 3 Financing Inc.
3.63%, 01/15/29 (Call 01/15/24)^(a)(b)		19,775		19,201,525
4.25%, 07/01/28 (Call 07/01/23)^(a)(b)		25,823		26,022,805
4.63%, 09/15/27 (Call 09/15/22)^(a)(b)		20,810		21,233,864
5.25%, 03/15/26 (Call 03/15/21)^(a)		15,160		15,670,134
5.38%, 01/15/24 (Call 11/30/20)^(a)		18,281		18,412,806
5.38%, 05/01/25 (Call 11/30/20)		15,182		15,605,046
Nokia OYJ
3.38%, 06/12/22^(a)		6,451		6,555,669
4.38%, 06/12/27^(a)		11,448		12,306,714
Qwest Corp., 6.75%, 12/01/21^(a)		18,820		19,761,000
Sprint Communications Inc.
6.00%, 11/15/22		52,168		55,839,062
11.50%, 11/15/21		20,123		21,912,806
Sprint Corp.
7.13%, 06/15/24		56,645		65,056,074
7.25%, 09/15/21		942		980,331
7.63%, 02/15/25 (Call 11/15/24)^(a)		33,205		39,181,900
7.63%, 03/01/26 (Call 11/01/25)^(a)		33,756		41,055,735
7.88%, 09/15/23		101,512		115,850,570
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		35,539		38,341,606
Telefonaktiebolaget LM Ericsson, 4.13%, 05/15/22^(a)		21,022		21,722,033


Security	Par (000)		Value

Telecommunications (continued)
T-Mobile USA Inc.
4.00%, 04/15/22 (Call 03/16/22)	$	9,749	$	10,085,826
4.50%, 02/01/26 (Call 02/01/21)		21,128		21,619,226
4.75%, 02/01/28 (Call 02/01/23)		34,926		37,353,357
5.13%, 04/15/25 (Call 11/10/20)		10,092		10,325,378
5.38%, 04/15/27 (Call 04/15/22)		10,385		11,085,988
6.00%, 03/01/23 (Call 11/10/20)		28,094		28,129,117
6.00%, 04/15/24 (Call 11/10/20)		21,287		21,663,780
6.50%, 01/15/26 (Call 01/15/21)		43,883		45,583,466
ViaSat Inc.
5.63%, 09/15/25 (Call 11/10/20)^(a)(b)		15,168		15,258,250
5.63%, 04/15/27 (Call 04/15/22)^(a)(b)		11,872		12,435,920
6.50%, 07/15/28 (Call 07/15/23)^(a)(b)		9,944		10,205,030
Vmed O2 UK Financing I PLC, 4.25%, 01/31/31 (Call 01/31/26)^(a)(b)		28,459		28,513,784
Vodafone Group PLC, 7.00%, 04/04/79 (Call 01/04/29)^(c)		43,181		51,102,520
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)^(b)		30,754		29,677,610
Zayo Group Holdings Inc.
4.00%, 03/01/27 (Call 03/01/21)^(b)		31,566		30,950,463
6.13%, 03/01/28 (Call 03/01/23)^(a)(b)		24,776		25,013,436


				1,720,533,327

Toys, Games & Hobbies — 0.2%
Mattel Inc.
5.88%, 12/15/27 (Call 12/15/22)^(a)(b)		12,936		14,037,986
6.75%, 12/31/25 (Call 12/31/20)^(a)(b)		32,164		33,772,200


				47,810,186

Transportation — 0.4%
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., 7.38%, 01/15/22 (Call 11/30/20)^(a)(b)		8,458		4,010,502
XPO Logistics Inc.
6.13%, 09/01/23 (Call 11/30/20)^(b)		7,636		7,750,540
6.25%, 05/01/25 (Call 05/01/22)^(b)		28,286		30,062,927
6.50%, 06/15/22 (Call 11/30/20)^(b)		25,122		25,214,700
6.75%, 08/15/24 (Call 08/15/21)^(b)		19,576		20,715,323


				87,753,992

Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(a)(b)(c)		9,888		8,704,530
Fortress Transportation & Infrastructure Investors LLC
6.50%, 10/01/25 (Call 10/01/21)^(a)(b)		9,459		9,260,361
6.75%, 03/15/22 (Call 11/30/20)^(b)		13,301		13,173,680
9.75%, 08/01/27 (Call 08/01/23)^(a)(b)		9,694		10,311,993


				41,450,564


Total Corporate Bonds & Notes — 96.9% (Cost: $23,181,437,103)				22,666,712,335


Floating Rate Loan Interests

Oil & Gas — 0.1%
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 2020 2nd Lien Term Loan, 1.00%, 11/01/25^(h)		23,239		24,429,999


Total Floating Rate Loan Interests — 0.1% (Cost: $23,239,000)				24,429,999


Security	Shares (000)		Value

Common Stocks

Media — 0.0%
AMC Entertainment Inc.^(i)(j)		65	$	153,952


Oil, Gas & Consumable Fuels — 0.0%
Whiting Petroleum Corp.^(j)		443		6,467,523


Total Common Stocks — 0.0% (Cost $28,501,161)				6,621,475


Warrants

Oil & Gas — 0.0%
SM Energy Co. (Expires 06/30/23)^(j)		672		1,075,006


Total Warrants — 0.0% (Cost $2,882,370)				1,075,006


Short-Term Investments

Money Market Funds — 11.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(k)(l)(m)		2,318,186		2,319,809,074
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(k)(l)		438,710		438,710,000


				2,758,519,074


Total Short-Term Investments — 11.8% (Cost: $2,757,507,666)				2,758,519,074


Total Investments in Securities — 108.8% (Cost: $25,993,567,300)				25,457,357,889

Other Assets, Less Liabilities — (8.8)%				(2,059,519,695	)


Net Assets — 100.0%			$	23,397,838,194

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

^(b)	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.

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

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

^(e)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

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

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

^(h)	Fixed rate.

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

^(j)	Non-income producing security.

^(k)	Affiliate of the Fund.

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

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

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.1%
Omnicom Group Inc./Omnicom Capital Inc.
3.60%, 04/15/26 (Call 01/15/26)^(a)	$	21,466	$	24,038,687
3.65%, 11/01/24 (Call 08/01/24)		16,712		18,315,371


				42,354,058

Aerospace & Defense — 2.2%
Boeing Co. (The)
2.70%, 02/01/27 (Call 12/01/26)^(a)		13,723		13,288,167
2.95%, 02/01/30 (Call 11/01/29)		8,950		8,455,277
3.20%, 03/01/29 (Call 12/01/28)		17,561		16,992,545
3.25%, 02/01/35 (Call 11/01/34)		7,920		7,318,674
3.60%, 05/01/34 (Call 02/01/34)^(a)		9,807		9,407,367
3.75%, 02/01/50 (Call 08/01/49)		21,109		18,822,230
3.90%, 05/01/49 (Call 11/01/48)		13,120		11,972,441
3.95%, 08/01/59 (Call 02/01/59)		12,050		10,656,299
4.88%, 05/01/25 (Call 04/01/25)		43,492		47,285,833
5.04%, 05/01/27 (Call 03/01/27)		25,367		27,881,445
5.15%, 05/01/30 (Call 02/01/30)		67,048		74,222,283
5.71%, 05/01/40 (Call 11/01/39)		41,342		47,934,428
5.81%, 05/01/50 (Call 11/01/49)^(a)		77,676		91,249,236
5.93%, 05/01/60 (Call 11/01/59)		47,889		57,016,998
General Dynamics Corp.
3.25%, 04/01/25 (Call 03/01/25)		4,923		5,423,218
3.50%, 05/15/25 (Call 03/15/25)		12,470		13,875,339
3.50%, 04/01/27 (Call 02/01/27)		10,081		11,535,296
3.63%, 04/01/30 (Call 01/01/30)		19,213		22,805,689
3.75%, 05/15/28 (Call 02/15/28)^(a)		15,122		17,609,073
4.25%, 04/01/40 (Call 10/01/39)		11,429		14,464,584
4.25%, 04/01/50 (Call 10/01/49)^(a)		12,062		15,737,246
L3Harris Technologies Inc.
4.40%, 06/15/28 (Call 03/15/28)^(a)		16,000		18,912,653
4.40%, 06/15/28 (Call 03/15/28)		14,456		17,087,582
Lockheed Martin Corp.
2.80%, 06/15/50 (Call 12/15/49)		9,414		9,730,446
2.90%, 03/01/25 (Call 12/01/24)^(a)		7,955		8,638,651
3.55%, 01/15/26 (Call 10/15/25)^(a)		24,544		27,740,719
3.80%, 03/01/45 (Call 09/01/44)		15,037		17,901,766
4.07%, 12/15/42		20,392		25,283,865
4.09%, 09/15/52 (Call 03/15/52)^(a)		24,047		30,701,555
4.70%, 05/15/46 (Call 11/15/45)^(a)		19,658		26,408,644
Northrop Grumman Corp.
2.93%, 01/15/25 (Call 11/15/24)		21,101		22,817,952
3.20%, 02/01/27 (Call 11/01/26)^(a)		13,074		14,507,661
3.25%, 01/15/28 (Call 10/15/27)		32,905		36,719,529
4.03%, 10/15/47 (Call 04/15/47)^(a)		31,209		37,550,672
4.40%, 05/01/30 (Call 02/01/30)^(a)		14,701		17,980,054
4.75%, 06/01/43^(a)		16,217		20,878,153
5.25%, 05/01/50 (Call 11/01/49)		14,333		20,341,167
Raytheon Technologies Corp.
2.25%, 07/01/30 (Call 04/01/30)^(a)		11,345		11,817,595
3.13%, 05/04/27 (Call 02/04/27)^(a)		12,862		14,176,667
3.13%, 07/01/50 (Call 01/01/50)		12,942		13,581,495
3.20%, 03/15/24 (Call 01/15/24)^(b)		5,266		5,645,679
3.50%, 03/15/27 (Call 12/15/26)^(b)		18,056		20,216,032
3.75%, 11/01/46 (Call 05/01/46)^(a)		15,206		17,397,886
3.95%, 08/16/25 (Call 06/16/25)^(a)		19,770		22,421,622
4.13%, 11/16/28 (Call 08/16/28)		44,539		52,231,896
4.15%, 05/15/45 (Call 11/16/44)^(a)		14,442		17,207,564
4.35%, 04/15/47 (Call 10/15/46)^(b)		15,380		18,801,567


Security	Par (000)			Value

Aerospace & Defense (continued)
4.45%, 11/16/38 (Call 05/16/38)^(a)	$	11,908		$	14,503,668
4.50%, 06/01/42		50,013			62,562,502
4.63%, 11/16/48 (Call 05/16/48)^(a)		27,205			35,583,637
5.70%, 04/15/40^(a)		15,962			22,257,022
6.13%, 07/15/38		17,484			25,066,229
Rockwell Collins Inc., 3.50%, 03/15/27 (Call 12/15/26)		0	^(c)		156


					1,250,625,954

Agriculture — 1.6%
Altria Group Inc.
2.35%, 05/06/25 (Call 04/06/25)		10,663			11,243,447
3.40%, 05/06/30 (Call 02/06/30)		9,757			10,602,622
3.80%, 02/14/24 (Call 01/14/24)^(a)		22,390			24,353,330
3.88%, 09/16/46 (Call 03/16/46)		23,116			23,250,688
4.00%, 01/31/24		23,543			25,825,812
4.25%, 08/09/42^(a)		14,005			14,841,869
4.40%, 02/14/26 (Call 12/14/25)		22,198			25,507,526
4.80%, 02/14/29 (Call 11/14/28)		46,656			54,722,598
5.38%, 01/31/44^(a)		24,356			29,687,891
5.80%, 02/14/39 (Call 08/14/38)		29,301			37,277,002
5.95%, 02/14/49 (Call 08/14/48)^(a)		35,189			46,668,715
Archer-Daniels-Midland Co.
2.50%, 08/11/26 (Call 05/11/26)		4,698			5,095,804
3.25%, 03/27/30 (Call 12/27/29)		16,890			19,386,377
BAT Capital Corp.
2.26%, 03/25/28 (Call 01/25/28)		20,600			20,558,641
2.73%, 03/25/31 (Call 12/25/30)		13,217			13,089,205
2.79%, 09/06/24 (Call 08/06/24)^(a)		5,004			5,287,778
3.22%, 08/15/24 (Call 06/15/24)^(a)		30,429			32,641,855
3.22%, 09/06/26 (Call 07/06/26)^(a)		9,392			10,099,180
3.56%, 08/15/27 (Call 05/15/27)^(a)		52,718			57,239,322
3.73%, 09/25/40 (Call 03/25/40)		12,350			12,151,827
3.98%, 09/25/50 (Call 03/25/50)^(a)		15,903			15,410,133
4.39%, 08/15/37 (Call 02/15/37)^(a)		38,040			40,595,584
4.54%, 08/15/47 (Call 02/15/47)		32,948			34,479,548
4.70%, 04/02/27 (Call 02/02/27)		13,446			15,402,796
4.76%, 09/06/49 (Call 03/06/49)		15,710			16,953,896
4.91%, 04/02/30 (Call 01/02/30)		18,191			21,201,490
BAT International Finance PLC, 1.67%, 03/25/26 (Call 02/25/26)		6,984			7,008,943
Philip Morris International Inc.
1.50%, 05/01/25 (Call 04/01/25)		5,898			6,069,453
2.10%, 05/01/30 (Call 02/01/30)		12,166			12,372,035
2.75%, 02/25/26 (Call 11/25/25)^(a)		10,885			11,811,850
2.88%, 05/01/24 (Call 04/01/24)		2,714			2,912,120
3.25%, 11/10/24^(a)		5,033			5,515,250
3.38%, 08/11/25 (Call 05/11/25)		13,557			15,031,527
3.38%, 08/15/29 (Call 05/15/29)^(a)		8,785			9,847,423
3.88%, 08/21/42		12,534			14,102,987
4.13%, 03/04/43		12,994			15,137,827
4.25%, 11/10/44^(a)		15,165			18,075,987
4.38%, 11/15/41^(a)		12,371			14,855,135
4.88%, 11/15/43		11,770			15,126,172
6.38%, 05/16/38^(a)		21,413			31,534,090
Reynolds American Inc.
4.45%, 06/12/25 (Call 03/12/25)		38,715			43,720,199
5.70%, 08/15/35 (Call 02/15/35)		10,303			12,651,450
5.85%, 08/15/45 (Call 02/15/45)		33,556			40,601,401


					899,948,785


Security	Par (000)		Value

Airlines — 0.1%
Southwest Airlines Co.
5.13%, 06/15/27 (Call 04/15/27)	$	15,230	$	16,935,608
5.25%, 05/04/25 (Call 04/04/25)		18,536		20,576,072


				37,511,680

Apparel — 0.3%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		14,983		16,218,864
2.40%, 03/27/25 (Call 02/27/25)^(a)		9,115		9,771,914
2.75%, 03/27/27 (Call 01/27/27)^(a)		15,058		16,578,800
2.85%, 03/27/30 (Call 12/27/29)^(a)		27,556		30,693,330
3.25%, 03/27/40 (Call 09/27/39)		15,923		17,985,656
3.38%, 03/27/50 (Call 09/27/49)^(a)		23,448		26,936,493
3.88%, 11/01/45 (Call 05/01/45)		12,450		15,181,112
VF Corp.
2.40%, 04/23/25 (Call 03/23/25)^(a)		12,911		13,712,004
2.95%, 04/23/30 (Call 01/23/30)^(a)		12,524		13,562,905


				160,641,078

Auto Manufacturers — 1.1%
American Honda Finance Corp.
1.00%, 09/10/25^(a)		12,277		12,290,904
1.20%, 07/08/25^(a)		11,895		12,015,063
2.15%, 09/10/24^(a)		13,435		14,091,038
Cummins Inc., 1.50%, 09/01/30 (Call 06/01/30)		15,916		15,718,163
Daimler Finance North America LLC, 8.50%, 01/18/31		23,849		36,851,143
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)^(a)		11,828		12,800,135
5.00%, 10/01/28 (Call 07/01/28)^(a)		11,734		13,293,258
5.00%, 04/01/35		11,452		12,624,384
5.15%, 04/01/38 (Call 10/01/37)^(a)		15,306		16,798,335
5.20%, 04/01/45		19,400		21,544,616
5.40%, 04/01/48 (Call 10/01/47)		11,419		13,005,878
5.95%, 04/01/49 (Call 10/01/48)^(a)		14,309		17,452,199
6.13%, 10/01/25 (Call 09/01/25)		21,218		24,830,435
6.25%, 10/02/43		18,337		22,585,778
6.60%, 04/01/36 (Call 10/01/35)		18,361		23,072,761
6.75%, 04/01/46 (Call 10/01/45)		11,239		14,456,279
6.80%, 10/01/27 (Call 08/01/27)		10,059		12,347,845
General Motors Financial Co. Inc.
2.70%, 08/20/27 (Call 06/20/27)^(a)		6,414		6,478,090
2.75%, 06/20/25 (Call 05/20/25)		19,137		19,748,971
2.90%, 02/26/25 (Call 01/26/25)		18,664		19,356,996
3.50%, 11/07/24 (Call 09/07/24)		14,212		15,038,242
3.60%, 06/21/30 (Call 03/21/30)^(a)		20,490		21,558,584
3.95%, 04/13/24 (Call 02/13/24)		13,217		14,069,617
4.00%, 01/15/25 (Call 10/15/24)		17,832		19,100,567
4.00%, 10/06/26 (Call 07/06/26)		14,828		16,090,422
4.30%, 07/13/25 (Call 04/13/25)		15,986		17,431,531
4.35%, 04/09/25 (Call 02/09/25)^(a)		15,266		16,674,899
4.35%, 01/17/27 (Call 10/17/26)^(a)		20,019		21,946,313
5.10%, 01/17/24 (Call 12/17/23)		5,639		6,192,639
5.25%, 03/01/26 (Call 12/01/25)^(a)		15,746		17,919,814
Toyota Motor Credit Corp.
1.80%, 02/13/25^(a)		22,349		23,270,411
2.15%, 02/13/30		17,766		18,597,733
3.00%, 04/01/25		20,672		22,601,851
3.20%, 01/11/27^(a)		12,537		13,930,983
3.38%, 04/01/30		12,944		14,880,092


				600,665,969


Security	Par (000)		Value

Auto Parts & Equipment — 0.0%
BorgWarner Inc., 2.65%, 07/01/27 (Call 05/01/27)^(a)	$	17,354	$	18,195,362
Magna International Inc.
2.45%, 06/15/30 (Call 03/15/30)^(a)		4,611		4,838,768
3.63%, 06/15/24 (Call 03/15/24)^(a)		2,175		2,370,107


				25,404,237

Banks — 23.1%
Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25		6,007		6,837,588
Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25		13,351		13,274,065
Banco Santander SA
2.71%, 06/27/24		15,452		16,345,688
2.75%, 05/28/25^(a)		23,946		25,241,898
3.31%, 06/27/29^(a)		14,558		15,866,470
3.49%, 05/28/30^(a)		13,001		14,049,340
3.80%, 02/23/28		20,260		22,304,819
4.25%, 04/11/27^(a)		16,101		18,222,246
4.38%, 04/12/28^(a)		18,027		20,466,933
Bank of America Corp.
0.98%, 09/25/25 (Call 09/25/24)^(a)(d)		10,645		10,628,385
1.20%, 10/24/26 (Call 10/24/25)^(d)		5,000		5,004,522
1.32%, 06/19/26 (Call 06/19/25)^(d)		42,101		42,336,467
1.90%, 07/23/31 (Call 07/23/30)^(d)		31,848		31,492,529
1.92%, 10/24/31 (Call 10/24/30)^(d)		16,178		16,051,260
2.02%, 02/13/26 (Call 02/13/25)^(d)		33,918		35,116,374
2.46%, 10/22/25 (Call 10/22/24)^(a)(d)		26,223		27,664,966
2.50%, 02/13/31 (Call 02/13/30)^(d)		46,258		48,002,579
2.59%, 04/29/31 (Call 04/29/30)^(d)		39,600		41,372,199
2.68%, 06/19/41 (Call 06/19/40)^(d)		69,136		69,734,026
2.83%, 10/24/51 (Call 10/24/50)^(d)		4,451		4,427,821
2.88%, 10/22/30 (Call 10/22/29)^(d)		27,321		29,338,320
3.09%, 10/01/25 (Call 10/01/24)^(a)(d)		25,667		27,678,469
3.19%, 07/23/30 (Call 07/23/29)^(d)		39,418		43,233,379
3.25%, 10/21/27 (Call 10/21/26)		26,628		29,363,188
3.37%, 01/23/26 (Call 01/23/25)^(d)		36,469		39,736,903
3.42%, 12/20/28 (Call 12/20/27)^(d)		81,769		90,862,898
3.46%, 03/15/25 (Call 03/15/24)^(d)		21,245		22,990,043
3.50%, 04/19/26		34,820		39,038,015
3.56%, 04/23/27 (Call 04/23/26)^(d)		43,886		48,905,040
3.59%, 07/21/28 (Call 07/21/27)^(d)		30,806		34,418,866
3.71%, 04/24/28 (Call 04/24/27)^(d)		29,452		33,061,316
3.82%, 01/20/28 (Call 01/20/27)^(d)		37,808		42,680,098
3.88%, 08/01/25		27,389		30,986,559
3.95%, 01/23/49 (Call 01/23/48)^(d)		18,434		22,090,159
3.97%, 03/05/29 (Call 03/05/28)^(a)(d)		35,771		40,976,607
3.97%, 02/07/30 (Call 02/07/29)^(d)		42,819		49,473,522
4.00%, 04/01/24		22,651		25,029,002
4.00%, 01/22/25		35,622		39,574,909
4.08%, 04/23/40 (Call 04/23/39)^(d)		21,137		25,201,263
4.08%, 03/20/51 (Call 03/20/50)^(d)		74,111		90,436,342
4.13%, 01/22/24		33,844		37,409,851
4.20%, 08/26/24^(a)		30,142		33,582,652
4.24%, 04/24/38 (Call 04/24/37)^(d)		27,307		32,966,791
4.25%, 10/22/26		26,545		30,645,135
4.27%, 07/23/29 (Call 07/23/28)^(d)		44,105		51,776,690
4.33%, 03/15/50 (Call 03/15/49)^(d)		37,855		47,714,615
4.44%, 01/20/48 (Call 01/20/47)^(d)		27,783		35,455,328
4.45%, 03/03/26		29,876		34,352,303
5.00%, 01/21/44		28,107		38,288,272
5.88%, 02/07/42^(a)		21,833		32,319,431
6.11%, 01/29/37^(a)		23,867		33,736,427


Security	Par (000)		Value

Banks (continued)
7.75%, 05/14/38	$	23,843	$	38,868,263
Series L, 3.95%, 04/21/25		33,969		37,844,048
Series L, 4.18%, 11/25/27 (Call 11/25/26)		28,262		32,374,090
Bank of America N.A., 6.00%, 10/15/36^(a)		12,979		18,354,085
Bank of Montreal
1.85%, 05/01/25^(a)		27,357		28,530,541
2.50%, 06/28/24^(a)		23,008		24,387,026
Series E, 3.30%, 02/05/24		14,927		16,110,263
Bank of New York Mellon Corp. (The) 1.60%, 04/24/25 (Call 03/24/25)		20,182		20,883,575
2.10%, 10/24/24		16,800		17,667,335
2.45%, 08/17/26 (Call 05/17/26)^(a)		14,883		16,140,508
2.80%, 05/04/26 (Call 02/04/26)		15,762		17,349,445
3.25%, 05/16/27 (Call 02/16/27)		12,632		14,229,957
3.30%, 08/23/29 (Call 05/23/29)		11,973		13,539,644
3.40%, 01/29/28 (Call 10/29/27)^(a)		13,534		15,454,783
3.85%, 04/28/28^(a)		1,767		2,100,152
Series 0012, 3.65%, 02/04/24 (Call 01/05/24)^(a)		9,940		10,865,982
Series G, 3.00%, 02/24/25 (Call 01/24/25)		12,228		13,353,151
Bank of Nova Scotia (The)
1.30%, 06/11/25		15,659		15,939,315
2.20%, 02/03/25		27,311		28,797,871
2.70%, 08/03/26^(a)		18,520		20,380,356
3.40%, 02/11/24		12,871		13,951,192
4.50%, 12/16/25^(a)		19,573		22,590,912
Barclays PLC
1.00%, 06/24/31 (Call 06/24/30)^(d)		19,522		19,594,881
2.85%, 05/07/26 (Call 05/07/25)^(a)(d)		27,123		28,444,574
3.65%, 03/16/25		29,010		31,398,475
3.93%, 05/07/25 (Call 05/07/24)^(d)		30,803		33,181,232
4.34%, 01/10/28 (Call 01/10/27)		22,488		25,271,709
4.38%, 09/11/24^(a)		19,640		21,140,669
4.38%, 01/12/26		39,003		44,077,926
4.84%, 05/09/28 (Call 05/07/27)		21,898		24,088,492
4.95%, 01/10/47^(a)		20,506		26,543,198
4.97%, 05/16/29 (Call 05/16/28)^(a)(d)		25,986		30,381,963
5.20%, 05/12/26		30,678		34,521,732
5.25%, 08/17/45^(a)		22,581		30,220,626
BNP Paribas SA, 4.25%, 10/15/24		16,504		18,261,754
BPCE SA, 4.00%, 04/15/24^(a)		25,004		27,592,544
Canadian Imperial Bank of Commerce
2.25%, 01/28/25		26,961		28,432,111
3.10%, 04/02/24^(a)		12,037		12,972,330
Citibank N.A., 3.65%, 01/23/24 (Call 12/23/23)^(a)		16,305		17,767,415
Citigroup Inc.
2.57%, 06/03/31 (Call 06/03/30)^(d)		44,488		46,319,580
2.67%, 01/29/31 (Call 01/29/30)^(a)(d)		30,292		31,771,788
2.98%, 11/05/30 (Call 11/05/29)^(d)		33,195		35,592,379
3.11%, 04/08/26 (Call 04/08/25)^(a)(d)		51,967		55,988,762
3.20%, 10/21/26 (Call 07/21/26)^(a)		45,280		49,765,188
3.30%, 04/27/25^(a)		24,791		27,325,131
3.35%, 04/24/25 (Call 04/24/24)^(d)		35,253		38,092,277
3.40%, 05/01/26^(a)		30,596		34,009,856
3.52%, 10/27/28 (Call 10/27/27)^(d)		33,701		37,393,736
3.67%, 07/24/28 (Call 07/24/27)^(a)(d)		38,266		42,795,860
3.70%, 01/12/26		31,746		35,611,987
3.88%, 03/26/25^(a)		15,276		16,865,491
3.88%, 01/24/39 (Call 01/24/38)^(a)(d)		15,250		17,565,313
3.89%, 01/10/28 (Call 01/10/27)^(a)(d)		42,721		48,076,851
3.98%, 03/20/30 (Call 03/20/29)^(d)		37,463		42,973,556


Security	Par (000)		Value

Banks (continued)
4.00%, 08/05/24^(a)	$	6,770	$	7,475,737
4.08%, 04/23/29 (Call 04/23/28)^(a)(d)		30,241		34,743,615
4.13%, 07/25/28		31,324		35,857,231
4.28%, 04/24/48 (Call 04/24/47)^(a)(d)		12,023		14,878,940
4.30%, 11/20/26		12,358		14,140,499
4.40%, 06/10/25		41,559		47,052,393
4.41%, 03/31/31 (Call 03/31/30)^(d)		58,665		69,625,963
4.45%, 09/29/27		57,754		66,577,389
4.60%, 03/09/26		23,693		27,288,654
4.65%, 07/30/45^(a)		16,133		20,636,619
4.65%, 07/23/48 (Call 06/23/48)		40,851		52,881,742
4.75%, 05/18/46		26,660		33,417,510
5.30%, 05/06/44^(a)		12,912		17,031,230
5.32%, 03/26/41 (Call 03/26/40)^(d)		15,382		20,848,031
5.50%, 09/13/25^(a)		21,051		24,946,420
5.88%, 01/30/42		15,106		21,864,243
6.63%, 06/15/32		18,306		25,454,493
6.68%, 09/13/43		16,044		24,408,746
8.13%, 07/15/39^(a)		30,159		52,348,581
Citizens Bank N.A./Providence RI, 2.25%, 04/28/25 (Call 03/28/25)		12,209		12,903,152
Citizens Financial Group Inc., 3.25%, 04/30/30 (Call 01/30/30)		11,860		12,940,502
Cooperatieve Rabobank UA
3.75%, 07/21/26		26,363		29,467,589
4.38%, 08/04/25^(a)		22,861		25,806,850
4.63%, 12/01/23		8,306		9,236,847
5.25%, 05/24/41		23,917		34,265,702
5.25%, 08/04/45		20,235		27,233,665
5.75%, 12/01/43^(a)		15,423		21,745,380
Cooperatieve Rabobank UA/NY, 3.38%, 05/21/25^(a)		17,125		19,191,338
Credit Suisse AG/New York NY
2.95%, 04/09/25		23,890		26,078,515
3.63%, 09/09/24		46,296		51,169,770
Credit Suisse Group Funding Guernsey Ltd.
3.75%, 03/26/25		38,110		42,167,393
4.55%, 04/17/26^(a)		34,431		40,036,680
4.88%, 05/15/45^(a)		28,261		37,203,575
Deutsche Bank AG/London, 3.70%, 05/30/24^(a)		12,643		13,436,829
Deutsche Bank AG/New York NY
3.55%, 09/18/31 (Call 09/18/30)^(d)		17,525		17,718,232
3.70%, 05/30/24^(a)		11,980		12,698,358
3.96%, 11/26/25 (Call 11/26/24)^(d)		29,764		31,806,900
Discover Bank
2.45%, 09/12/24 (Call 08/12/24)		10,460		11,000,218
3.45%, 07/27/26 (Call 04/27/26)		16,581		18,163,479
4.65%, 09/13/28 (Call 06/13/28)		12,183		14,252,788
Fifth Third Bancorp.
2.38%, 01/28/25 (Call 12/28/24)		11,020		11,641,778
2.55%, 05/05/27 (Call 04/05/27)		13,990		14,920,806
3.65%, 01/25/24 (Call 12/25/23)		16,135		17,531,320
4.30%, 01/16/24 (Call 12/16/23)^(a)		1,429		1,571,244
8.25%, 03/01/38		15,447		25,195,657
Fifth Third Bank NA
3.85%, 03/15/26 (Call 02/15/26)		13,285		15,002,452
3.95%, 07/28/25 (Call 06/28/25)		9,300		10,612,288
Goldman Sachs Group Inc. (The)
2.60%, 02/07/30 (Call 11/07/29)^(a)		31,815		33,535,638
3.27%, 09/29/25 (Call 09/29/24)^(d)		36,976		40,150,279
3.50%, 01/23/25 (Call 10/23/24)		39,223		42,876,344


Security	Par (000)		Value

Banks (continued)
3.50%, 04/01/25 (Call 03/01/25)^(a)	$	48,772	$	53,786,571
3.50%, 11/16/26 (Call 11/16/25)		44,809		49,609,948
3.63%, 02/20/24 (Call 01/20/24)^(a)		12,879		13,978,691
3.69%, 06/05/28 (Call 06/05/27)^(d)		32,884		37,084,316
3.75%, 05/22/25 (Call 02/22/25)		34,876		38,724,992
3.75%, 02/25/26 (Call 11/25/25)		28,302		31,785,300
3.80%, 03/15/30 (Call 12/15/29)^(a)		36,114		41,710,251
3.81%, 04/23/29 (Call 04/23/28)^(d)		36,023		40,965,334
3.85%, 07/08/24 (Call 04/08/24)		26,099		28,576,427
3.85%, 01/26/27 (Call 01/26/26)		46,087		51,747,691
4.00%, 03/03/24^(a)		31,516		34,696,721
4.02%, 10/31/38 (Call 10/31/37)^(d)		34,360		40,186,827
4.22%, 05/01/29 (Call 05/01/28)^(a)(d)		47,363		55,270,660
4.25%, 10/21/25^(a)		29,334		33,337,132
4.41%, 04/23/39 (Call 04/23/38)^(d)		25,273		30,649,932
4.75%, 10/21/45 (Call 04/21/45)^(a)		22,034		28,840,677
4.80%, 07/08/44 (Call 01/08/44)^(a)		25,638		33,490,091
5.15%, 05/22/45		29,831		39,371,216
5.95%, 01/15/27		13,973		17,272,071
6.13%, 02/15/33		12,570		17,876,500
6.25%, 02/01/41		36,521		54,685,508
6.75%, 10/01/37		86,156		125,654,123
HSBC Holdings PLC
1.65%, 04/18/26 (Call 04/18/25)^(a)(d)		21,109		21,160,105
2.01%, 09/22/28 (Call 09/22/27)^(a)(d)		14,072		14,007,170
2.10%, 06/04/26 (Call 06/04/25)^(d)		30,141		30,736,981
2.36%, 08/18/31 (Call 08/18/30)^(a)(d)		19,288		19,155,430
2.63%, 11/07/25 (Call 11/07/24)^(d)		31,147		32,561,784
2.85%, 06/04/31 (Call 06/04/30)^(a)(d)		23,233		24,048,671
3.80%, 03/11/25 (Call 03/11/24)^(d)		39,662		42,938,426
3.90%, 05/25/26		41,048		45,769,308
3.97%, 05/22/30 (Call 05/22/29)^(a)(d)		45,702		51,162,128
4.04%, 03/13/28 (Call 03/13/27)^(a)(d)		36,976		41,235,277
4.25%, 03/14/24^(a)		23,782		25,775,127
4.25%, 08/18/25^(a)		27,401		30,268,175
4.29%, 09/12/26 (Call 09/12/25)^(d)		39,276		44,024,590
4.30%, 03/08/26^(a)		46,434		52,754,108
4.38%, 11/23/26		24,109		27,025,097
4.58%, 06/19/29 (Call 06/19/28)^(d)		46,743		53,966,074
4.95%, 03/31/30		36,440		44,400,956
5.25%, 03/14/44^(a)		22,932		29,117,423
6.10%, 01/14/42^(a)		16,628		23,961,912
6.50%, 05/02/36^(a)		28,341		38,080,849
6.50%, 09/15/37		35,265		47,702,507
6.80%, 06/01/38		24,362		34,164,197
HSBC USA Inc., 3.50%, 06/23/24^(a)		5,688		6,167,425
Huntington Bancshares Inc./OH
2.55%, 02/04/30 (Call 11/04/29)		13,307		13,858,682
2.63%, 08/06/24 (Call 07/06/24)		13,012		13,814,101
ING Groep NV
3.55%, 04/09/24^(a)		18,797		20,459,965
3.95%, 03/29/27		24,547		27,926,572
4.05%, 04/09/29^(a)		16,655		19,502,022
4.55%, 10/02/28		20,176		24,192,481
JPMorgan Chase & Co.
2.01%, 03/13/26 (Call 03/13/25)^(d)		32,925		34,166,243
2.08%, 04/22/26 (Call 04/22/25)^(d)		51,814		54,164,998
2.18%, 06/01/28 (Call 06/01/27)^(d)		19,998		20,837,830
2.30%, 10/15/25 (Call 10/15/24)^(d)		35,190		36,967,904
2.52%, 04/22/31 (Call 04/22/30)^(a)(d)		36,923		38,835,408


Security	Par (000)		Value

Banks (continued)
2.74%, 10/15/30 (Call 10/15/29)^(d)	$	52,837	$	56,479,113
2.95%, 10/01/26 (Call 07/01/26)		41,437		45,570,308
3.11%, 04/22/41 (Call 04/22/40)^(d)		22,874		24,486,930
3.11%, 04/22/51 (Call 04/22/50)^(d)		33,874		35,718,832
3.13%, 01/23/25 (Call 10/23/24)^(a)		37,302		40,644,688
3.20%, 06/15/26 (Call 03/15/26)^(a)		26,794		29,731,485
3.22%, 03/01/25 (Call 03/01/24)^(d)		29,684		31,958,875
3.30%, 04/01/26 (Call 01/01/26)		38,006		42,200,764
3.51%, 01/23/29 (Call 01/23/28)^(d)		33,244		37,302,082
3.54%, 05/01/28 (Call 05/01/27)^(a)(d)		36,689		41,237,420
3.63%, 05/13/24^(a)		17,068		18,798,675
3.63%, 12/01/27 (Call 12/01/26)		17,483		19,490,611
3.70%, 05/06/30 (Call 05/06/29)^(d)		36,703		41,840,719
3.78%, 02/01/28 (Call 02/01/27)^(d)		41,228		46,736,205
3.88%, 02/01/24^(a)		9,281		10,245,064
3.88%, 09/10/24		41,088		45,497,350
3.88%, 07/24/38 (Call 07/24/37)^(a)(d)		37,053		43,571,097
3.90%, 07/15/25 (Call 04/15/25)		43,438		49,095,304
3.90%, 01/23/49 (Call 01/23/48)^(d)		26,197		31,399,955
3.96%, 01/29/27 (Call 01/29/26)^(d)		31,444		35,779,530
3.96%, 11/15/48 (Call 11/15/47)^(a)(d)		50,200		60,212,164
4.01%, 04/23/29 (Call 04/23/28)^(d)		34,957		40,477,846
4.02%, 12/05/24 (Call 12/05/23)^(d)		25,489		28,063,259
4.03%, 07/24/48 (Call 07/24/47)^(d)		21,831		26,358,457
4.13%, 12/15/26		30,490		35,348,725
4.20%, 07/23/29 (Call 07/23/28)^(d)		38,652		45,386,875
4.25%, 10/01/27		19,397		22,524,146
4.26%, 02/22/48 (Call 02/22/47)^(a)(d)		29,993		37,815,009
4.45%, 12/05/29 (Call 12/05/28)^(d)		38,625		46,151,359
4.49%, 03/24/31 (Call 03/24/30)^(a)(d)		44,714		54,105,635
4.85%, 02/01/44		15,029		20,408,641
4.95%, 06/01/45^(a)		19,232		25,618,103
5.40%, 01/06/42^(a)		19,315		27,573,683
5.50%, 10/15/40		21,658		30,807,011
5.60%, 07/15/41		27,133		39,241,012
5.63%, 08/16/43^(a)		15,067		21,350,873
6.40%, 05/15/38^(a)		38,056		57,718,721
KeyBank N.A./Cleveland OH, 3.30%, 06/01/25^(a)		12,261		13,620,986
KeyCorp
2.25%, 04/06/27		13,898		14,609,415
2.55%, 10/01/29^(a)		16,334		17,324,254
4.10%, 04/30/28		4,129		4,811,839
Lloyds Banking Group PLC
2.44%, 02/05/26 (Call 02/05/25)^(d)		21,795		22,719,701
3.57%, 11/07/28 (Call 11/07/27)^(a)(d)		28,162		30,893,049
3.75%, 01/11/27		19,845		22,011,965
3.87%, 07/09/25 (Call 07/09/24)^(d)		20,135		21,959,503
3.90%, 03/12/24		7,388		8,040,854
4.34%, 01/09/48^(a)		17,808		20,945,843
4.38%, 03/22/28		25,092		29,056,501
4.45%, 05/08/25		22,949		26,004,067
4.50%, 11/04/24^(a)		17,449		19,108,813
4.55%, 08/16/28^(a)		20,245		23,852,643
4.58%, 12/10/25		26,318		29,095,944
4.65%, 03/24/26^(a)		26,147		29,300,020
5.30%, 12/01/45^(a)		8,433		11,114,754
Manufacturers & Traders Trust Co., 2.90%, 02/06/25 (Call 01/06/25)^(a)		14,215		15,422,568
Mitsubishi UFJ Financial Group Inc. 1.41%, 07/17/25^(a)		26,993		27,399,628


Security	Par (000)		Value

Banks (continued)
2.05%, 07/17/30^(a)	$	14,378	$	14,534,877
2.19%, 02/25/25^(a)		41,705		43,668,240
2.56%, 02/25/30^(a)		19,243		20,247,985
2.76%, 09/13/26^(a)		21,041		22,787,885
2.80%, 07/18/24^(a)		15,325		16,348,005
3.20%, 07/18/29		31,453		34,562,145
3.29%, 07/25/27^(a)		15,839		17,485,097
3.41%, 03/07/24^(a)		24,889		26,885,406
3.68%, 02/22/27^(a)		16,544		18,612,384
3.74%, 03/07/29		24,207		27,750,641
3.75%, 07/18/39^(a)		20,252		23,092,477
3.78%, 03/02/25		12,597		14,030,057
3.85%, 03/01/26^(a)		27,671		31,555,793
3.96%, 03/02/28		17,075		19,617,683
4.05%, 09/11/28^(a)		11,082		12,916,286
Mizuho Financial Group Inc.
1.98%, 09/08/31 (Call 09/08/30)^(a)(d)		12,843		12,689,065
2.20%, 07/10/31 (Call 07/10/30)^(d)		22,048		22,245,021
2.23%, 05/25/26 (Call 05/25/25)^(d)		23,992		24,911,906
2.84%, 09/13/26^(a)		15,184		16,437,843
3.15%, 07/16/30 (Call 07/16/29)^(d)		5,470		5,951,196
3.17%, 09/11/27		17,258		18,814,867
4.02%, 03/05/28^(a)		11,523		13,247,384
4.25%, 09/11/29 (Call 09/11/28)^(d)		16,174		18,833,109
Morgan Stanley
2.19%, 04/28/26 (Call 04/28/25)^(a)(d)		45,159		47,326,980
2.70%, 01/22/31 (Call 01/22/30)^(d)		48,646		51,831,063
2.72%, 07/22/25 (Call 07/22/24)^(d)		33,881		36,054,212
3.13%, 07/27/26		45,163		49,763,705
3.59%, 07/22/28 (Call 07/22/27)^(d)		44,362		49,907,507
3.62%, 04/01/31 (Call 04/01/30)^(a)(d)		45,143		51,726,994
3.63%, 01/20/27		46,708		53,046,972
3.70%, 10/23/24^(a)		42,582		47,312,592
3.77%, 01/24/29 (Call 01/24/28)^(d)		45,111		51,320,150
3.88%, 01/27/26		46,019		52,285,840
3.95%, 04/23/27		30,257		34,204,925
3.97%, 07/22/38 (Call 07/22/37)^(d)		29,520		35,137,807
4.00%, 07/23/25^(a)		45,372		51,557,764
4.30%, 01/27/45^(a)		32,845		42,045,807
4.35%, 09/08/26		33,920		39,407,079
4.38%, 01/22/47^(a)		30,111		39,443,564
4.43%, 01/23/30 (Call 01/23/29)^(a)(d)		42,684		51,043,098
4.46%, 04/22/39 (Call 04/22/38)^(d)		13,769		17,287,320
5.00%, 11/24/25^(a)		29,950		35,348,910
5.60%, 03/24/51 (Call 03/24/50)^(a)(d)		28,299		42,715,221
6.38%, 07/24/42^(a)		31,291		48,789,788
7.25%, 04/01/32^(a)		15,560		23,409,482
Series F, 3.88%, 04/29/24^(a)		42,829		47,288,642
Series I, 0.86%, 10/21/25 (Call 10/21/24)^(d)		404		403,219
National Australia Bank Ltd./New York
2.50%, 07/12/26		20,593		22,247,347
3.38%, 01/14/26		11,952		13,383,209
Natwest Group PLC
3.07%, 05/22/28 (Call 05/22/27)^(a)(d)		16,048		16,957,843
4.27%, 03/22/25 (Call 03/22/24)^(d)		28,264		30,867,462
4.45%, 05/08/30 (Call 05/08/29)^(a)(d)		15,986		18,391,525
4.80%, 04/05/26^(a)		23,376		27,099,988
4.89%, 05/18/29 (Call 05/18/28)^(d)		25,498		29,812,973
5.08%, 01/27/30 (Call 01/27/29)^(a)(d)		25,727		30,681,305
5.13%, 05/28/24		39,053		43,005,242


Security	Par (000)		Value

Banks (continued)
6.00%, 12/19/23	$	29,272	$	32,877,830
Northern Trust Corp.
1.95%, 05/01/30 (Call 02/01/30)		17,331		17,818,592
3.95%, 10/30/25^(a)		14,918		17,125,606
PNC Bank N.A.
2.70%, 10/22/29		11,217		12,024,705
2.95%, 02/23/25 (Call 01/24/25)		12,722		13,883,628
3.10%, 10/25/27 (Call 09/25/27)^(a)		19,673		21,842,987
3.25%, 06/01/25 (Call 05/02/25)^(a)		13,876		15,331,406
4.05%, 07/26/28^(a)		13,223		15,379,837
PNC Financial Services Group Inc. (The)
2.55%, 01/22/30 (Call 10/24/29)		33,226		35,805,597
2.60%, 07/23/26 (Call 05/23/26)^(a)		23,587		25,633,042
3.15%, 05/19/27 (Call 04/19/27)^(a)		11,117		12,387,662
3.45%, 04/23/29 (Call 01/23/29)		17,931		20,493,907
3.50%, 01/23/24 (Call 12/23/23)		10,969		11,930,991
3.90%, 04/29/24 (Call 03/29/24)		3,850		4,236,142
Regions Financial Corp., 2.25%, 05/18/25 (Call 04/18/25)		14,704		15,548,485
Royal Bank of Canada
1.15%, 06/10/25		22,751		23,116,759
2.25%, 11/01/24^(a)		29,599		31,277,089
2.55%, 07/16/24^(a)		22,946		24,464,793
4.65%, 01/27/26^(a)		20,547		24,164,102
Santander Holdings USA Inc.
3.24%, 10/05/26 (Call 08/05/26)		13,622		14,659,336
3.45%, 06/02/25 (Call 05/02/25)		9,963		10,743,872
3.50%, 06/07/24 (Call 05/07/24)^(a)		17,721		19,046,572
4.40%, 07/13/27 (Call 04/14/27)^(a)		16,099		17,913,674
4.50%, 07/17/25 (Call 04/17/25)		21,919		24,303,125
Santander UK Group Holdings PLC
1.53%, 08/21/26 (Call 08/21/25)^(d)		8,857		8,800,810
3.82%, 11/03/28 (Call 11/03/27)^(d)		19,794		21,848,382
4.80%, 11/15/24 (Call 11/15/23)^(a)(d)		16,613		18,322,315
Santander UK PLC
2.88%, 06/18/24^(a)		14,813		15,846,885
4.00%, 03/13/24^(a)		13,025		14,350,342
State Street Corp.
2.40%, 01/24/30^(a)		15,412		16,643,804
2.65%, 05/19/26		17,014		18,542,791
3.30%, 12/16/24		9,962		10,987,079
3.55%, 08/18/25^(a)		20,932		23,648,915
3.70%, 11/20/23^(a)		7,961		8,734,303
Sumitomo Mitsui Financial Group Inc.
1.47%, 07/08/25^(a)		23,294		23,758,776
2.13%, 07/08/30		22,017		22,359,300
2.14%, 09/23/30		10,565		10,387,132
2.35%, 01/15/25^(a)		22,610		23,804,118
2.45%, 09/27/24		14,241		15,044,763
2.63%, 07/14/26		34,539		37,105,051
2.70%, 07/16/24		35,064		37,298,208
2.75%, 01/15/30^(a)		19,589		20,857,568
3.01%, 10/19/26		18,896		20,750,777
3.04%, 07/16/29^(a)		41,089		44,674,438
3.35%, 10/18/27^(a)		7,342		8,120,950
3.36%, 07/12/27		20,876		23,073,727
3.45%, 01/11/27		18,148		20,080,579
3.54%, 01/17/28^(a)		13,702		15,283,414
3.78%, 03/09/26^(a)		22,677		25,693,488
3.94%, 07/19/28		10,311		11,835,849


Security	Par (000)		Value

Banks (continued)
Svenska Handelsbanken AB, 3.90%, 11/20/23	$	8,118	$	8,957,681
Toronto-Dominion Bank (The)
0.75%, 09/11/25^(a)		7,836		7,789,209
1.15%, 06/12/25^(a)		14,171		14,375,172
2.65%, 06/12/24		28,647		30,550,797
3.25%, 03/11/24		13,769		14,926,202
Truist Bank
1.50%, 03/10/25 (Call 02/10/25)^(a)		19,941		20,503,167
2.15%, 12/06/24 (Call 11/05/24)		21,204		22,408,699
2.25%, 03/11/30 (Call 12/11/29)		17,485		17,974,064
3.20%, 04/01/24 (Call 03/01/24)^(a)		8,907		9,615,612
3.30%, 05/15/26 (Call 04/15/26)		11,664		12,995,928
3.63%, 09/16/25 (Call 08/16/25)		22,394		25,149,270
3.80%, 10/30/26 (Call 09/30/26)		13,235		15,202,295
Truist Financial Corp.
1.13%, 08/03/27 (Call 06/03/27)		12,037		11,877,265
1.20%, 08/05/25 (Call 07/06/25)^(a)		12,132		12,349,756
1.95%, 06/05/30 (Call 03/05/30)^(a)		12,143		12,506,434
2.50%, 08/01/24 (Call 07/01/24)		16,191		17,225,289
2.85%, 10/26/24 (Call 09/26/24)		16,619		17,965,842
3.70%, 06/05/25 (Call 05/05/25)^(a)		23,332		26,234,923
3.75%, 12/06/23 (Call 11/06/23)		5,058		5,532,106
4.00%, 05/01/25 (Call 03/01/25)^(a)		15,945		18,029,386
U.S. Bancorp.
1.38%, 07/22/30 (Call 04/22/30)		19,846		19,537,180
1.45%, 05/12/25 (Call 04/11/25)		19,515		20,111,911
2.40%, 07/30/24 (Call 06/28/24)^(a)		16,029		17,004,264
3.00%, 07/30/29 (Call 04/30/29)^(a)		17,053		18,818,809
3.10%, 04/27/26 (Call 03/27/26)^(a)		15,172		16,826,120
3.38%, 02/05/24 (Call 01/05/24)		12,954		14,048,224
3.60%, 09/11/24 (Call 08/11/24)		17,150		18,952,741
3.70%, 01/30/24 (Call 12/29/23)^(a)		3,887		4,255,576
3.90%, 04/26/28 (Call 03/24/28)		9,544		11,259,852
3.95%, 11/17/25 (Call 10/17/25)		11,726		13,489,833
Series V, 2.38%, 07/22/26 (Call 06/22/26)		24,294		26,240,362
Series X, 3.15%, 04/27/27 (Call 03/27/27)		24,489		27,444,176
U.S. Bank N.A./Cincinnati OH
2.05%, 01/21/25 (Call 12/20/24)^(a)		15,400		16,222,517
2.80%, 01/27/25 (Call 12/27/24)		15,567		16,873,999
Wachovia Corp., 5.50%, 08/01/35		14,427		18,623,969
Wells Fargo & Co.
2.16%, 02/11/26 (Call 02/11/25)^(a)(d)		48,321		50,192,525
2.19%, 04/30/26 (Call 04/30/25)^(a)(d)		43,877		45,630,435
2.39%, 06/02/28 (Call 06/02/27)^(d)		46,049		47,840,882
2.41%, 10/30/25 (Call 10/30/24)^(d)		45,554		47,787,235
2.57%, 02/11/31 (Call 02/11/30)^(d)		45,269		47,031,838
2.88%, 10/30/30 (Call 10/30/29)^(d)		50,987		54,197,453
3.00%, 02/19/25^(a)		38,275		41,302,897
3.00%, 04/22/26		52,316		56,993,438
3.00%, 10/23/26		49,511		54,092,901
3.07%, 04/30/41 (Call 04/30/40)^(a)(d)		43,868		45,494,454
3.20%, 06/17/27 (Call 06/17/26)^(d)		37,136		40,411,495
3.30%, 09/09/24^(a)		30,984		33,618,408
3.55%, 09/29/25		39,293		43,735,797
3.58%, 05/22/28 (Call 05/22/27)^(d)		45,762		50,803,819
3.75%, 01/24/24 (Call 12/24/23)^(a)		40,383		43,852,168
3.90%, 05/01/45^(a)		30,305		35,157,464
4.10%, 06/03/26^(a)		37,817		42,739,374
4.15%, 01/24/29 (Call 10/24/28)^(a)		39,095		45,432,827
4.30%, 07/22/27		36,552		41,888,065


Security	Par (000)		Value

Banks (continued)
4.40%, 06/14/46^(a)	$	29,894	$	35,143,255
4.48%, 04/04/31 (Call 04/04/30)^(d)		35,441		42,546,516
4.65%, 11/04/44		25,912		31,221,936
4.75%, 12/07/46^(a)		30,003		37,093,855
4.90%, 11/17/45		28,559		35,761,902
5.01%, 04/04/51 (Call 04/04/50)^(d)		79,294		107,075,660
5.38%, 02/07/35^(a)		13,077		17,552,190
5.38%, 11/02/43^(a)		30,087		39,508,961
5.61%, 01/15/44		36,497		48,952,725
Wells Fargo Bank N.A.
5.85%, 02/01/37^(a)		16,080		21,361,941
6.60%, 01/15/38		15,363		22,000,718
Westpac Banking Corp.
2.35%, 02/19/25^(a)		22,671		24,148,684
2.65%, 01/16/30^(a)		5,019		5,497,514
2.70%, 08/19/26^(a)		16,846		18,438,479
2.85%, 05/13/26		24,565		27,006,731
3.30%, 02/26/24		11,187		12,135,151
3.35%, 03/08/27		24,230		27,359,009
3.40%, 01/25/28		9,457		10,774,638
4.42%, 07/24/39^(a)		14,077		16,979,013


				12,921,839,203

Beverages — 3.4%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)		54,459		61,178,141
4.70%, 02/01/36 (Call 08/01/35)		75,833		93,159,506
4.90%, 02/01/46 (Call 08/01/45)		135,198		165,704,050
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23		1		523
3.65%, 02/01/26 (Call 11/01/25)		31,127		34,904,984
4.00%, 01/17/43		9,963		10,862,957
4.63%, 02/01/44^(a)		13,770		16,396,695
4.90%, 02/01/46 (Call 08/01/45)^(a)		21,846		26,394,479
Anheuser-Busch InBev Worldwide Inc.
3.50%, 06/01/30 (Call 03/01/30)^(a)		17,731		20,022,125
3.75%, 07/15/42		16,123		17,212,442
4.00%, 04/13/28 (Call 01/13/28)^(a)		38,103		43,871,055
4.15%, 01/23/25 (Call 12/23/24)^(a)		35,153		39,815,894
4.35%, 06/01/40 (Call 12/01/39)		12,477		14,641,864
4.38%, 04/15/38 (Call 10/15/37)^(a)		21,242		24,837,077
4.44%, 10/06/48 (Call 04/06/48)		26,505		30,827,494
4.50%, 06/01/50 (Call 12/01/49)		32,561		38,616,884
4.60%, 04/15/48 (Call 10/15/47)		38,614		45,789,883
4.60%, 06/01/60 (Call 12/01/59)^(a)		18,255		21,721,814
4.75%, 01/23/29 (Call 10/23/28)		63,497		76,880,021
4.75%, 04/15/58 (Call 10/15/57)^(a)		22,773		27,688,083
4.90%, 01/23/31 (Call 10/23/30)^(a)		7,839		9,803,733
4.95%, 01/15/42		21,473		26,413,720
5.45%, 01/23/39 (Call 07/23/38)		27,595		35,712,980
5.55%, 01/23/49 (Call 07/23/48)		57,072		76,733,304
5.80%, 01/23/59 (Call 07/23/58)^(a)		29,424		41,428,207
8.20%, 01/15/39		16,782		27,577,164
Coca-Cola Co. (The)
1.00%, 03/15/28^(a)		12,861		12,727,848
1.38%, 03/15/31		17,118		16,956,291
1.45%, 06/01/27^(a)		22,604		23,175,603
1.65%, 06/01/30		23,669		24,154,122
1.75%, 09/06/24^(a)		4,938		5,159,345
2.13%, 09/06/29		19,100		20,234,991


Security	Par (000)		Value

Beverages (continued)
2.25%, 09/01/26^(a)	$	9,327	$	10,091,889
2.50%, 06/01/40		16,320		17,134,582
2.50%, 03/15/51		16,528		16,228,762
2.60%, 06/01/50		24,487		24,587,397
2.75%, 06/01/60		15,321		15,356,793
2.88%, 10/27/25^(a)		25,936		28,667,883
2.95%, 03/25/25		19,899		21,822,250
3.20%, 11/01/23^(a)		2,298		2,488,279
3.38%, 03/25/27		15,930		18,164,049
3.45%, 03/25/30^(a)		18,949		22,223,694
Constellation Brands Inc., 3.15%, 08/01/29 (Call 05/01/29)		15,496		16,970,141
Diageo Capital PLC
1.38%, 09/29/25 (Call 08/29/25)		8,982		9,202,381
2.00%, 04/29/30 (Call 01/29/30)		8,991		9,235,098
2.13%, 04/29/32 (Call 01/29/32)^(a)		21,891		22,649,453
2.38%, 10/24/29 (Call 07/24/29)^(a)		17,527		18,659,195
Keurig Dr Pepper Inc.
3.20%, 05/01/30 (Call 02/01/30)		12,477		13,878,608
3.80%, 05/01/50 (Call 11/01/49)^(a)		11,576		13,135,111
4.06%, 05/25/23 (Call 04/25/23)^(b)		100		108,432
4.42%, 05/25/25 (Call 03/25/25)^(a)		19,806		22,739,267
4.60%, 05/25/28 (Call 02/25/28)		29,879		35,700,810
5.09%, 05/25/48 (Call 11/25/47)		11,480		15,251,163
Molson Coors Beverage Co.
3.00%, 07/15/26 (Call 04/15/26)^(a)		26,339		28,274,558
4.20%, 07/15/46 (Call 01/15/46)^(a)		19,812		20,742,039
5.00%, 05/01/42^(a)		18,184		20,637,716
PepsiCo Inc.
1.40%, 02/25/31 (Call 11/25/30)^(a)		10,000		9,929,003
1.63%, 05/01/30 (Call 02/01/30)		8,061		8,179,042
2.25%, 03/19/25 (Call 02/19/25)		26,571		28,339,792
2.38%, 10/06/26 (Call 07/06/26)		17,557		19,005,579
2.63%, 07/29/29 (Call 04/29/29)^(a)		21,974		24,073,572
2.75%, 04/30/25 (Call 01/30/25)		19,194		20,796,338
2.75%, 03/19/30 (Call 12/19/29)		17,787		19,746,012
2.85%, 02/24/26 (Call 11/24/25)^(a)		3,651		4,013,016
2.88%, 10/15/49 (Call 04/15/49)		14,560		15,498,380
3.00%, 10/15/27 (Call 07/15/27)^(a)		21,430		23,981,649
3.38%, 07/29/49 (Call 01/29/49)		16,410		18,779,112
3.45%, 10/06/46 (Call 04/06/46)		22,473		25,849,330
3.50%, 03/19/40 (Call 09/19/39)		11,954		14,199,574
3.60%, 03/01/24 (Call 12/01/23)		1,402		1,530,350
3.63%, 03/19/50 (Call 09/19/49)		21,430		25,954,312
3.88%, 03/19/60 (Call 09/19/59)		11,691		14,628,423
4.00%, 03/05/42^(a)		12,206		15,165,827
4.00%, 05/02/47 (Call 11/02/46)^(a)		8,262		10,364,406
4.45%, 04/14/46 (Call 10/14/45)^(a)		22,329		29,349,881


				1,883,936,427

Biotechnology — 1.6%
Amgen Inc.
2.20%, 02/21/27 (Call 12/21/26)		28,368		29,871,674
2.30%, 02/25/31 (Call 11/25/30)^(a)		19,314		20,030,538
2.45%, 02/21/30 (Call 11/21/29)^(a)		23,871		25,155,482
2.60%, 08/19/26 (Call 05/19/26)^(a)		19,627		21,214,919
2.77%, 09/01/53 (Call 03/01/53)^(b)		15,979		15,115,576
3.13%, 05/01/25 (Call 02/01/25)		15,265		16,673,834
3.15%, 02/21/40 (Call 08/21/39)		29,306		30,757,975
3.20%, 11/02/27 (Call 08/02/27)		14,534		16,124,528
3.38%, 02/21/50 (Call 08/21/49)		31,099		33,010,805


Security	Par (000)		Value

Biotechnology (continued)
3.63%, 05/22/24 (Call 02/22/24)^(a)	$	13,253	$	14,501,406
4.40%, 05/01/45 (Call 11/01/44)^(a)		33,091		40,360,884
4.56%, 06/15/48 (Call 12/15/47)^(a)		21,702		27,333,354
4.66%, 06/15/51 (Call 12/15/50)^(a)		52,565		67,565,590
Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25)		11,870		13,406,563
Biogen Inc.
2.25%, 05/01/30 (Call 02/01/30)^(a)		23,092		23,357,175
3.15%, 05/01/50 (Call 11/01/49)		23,509		22,749,960
4.05%, 09/15/25 (Call 06/15/25)		19,800		22,468,478
5.20%, 09/15/45 (Call 03/15/45)^(a)		26,078		33,837,725
Gilead Sciences Inc.
1.20%, 10/01/27 (Call 08/01/27)		6,516		6,479,673
1.65%, 10/01/30 (Call 07/01/30)		10,491		10,338,528
2.60%, 10/01/40 (Call 04/01/40)		5,695		5,496,226
2.80%, 10/01/50 (Call 04/01/50)^(a)		19,535		18,495,801
2.95%, 03/01/27 (Call 12/01/26)		18,010		19,638,956
3.50%, 02/01/25 (Call 11/01/24)		29,165		32,082,422
3.65%, 03/01/26 (Call 12/01/25)		41,412		46,750,396
3.70%, 04/01/24 (Call 01/01/24)		13,742		14,957,965
4.00%, 09/01/36 (Call 03/01/36)^(a)		11,511		13,628,588
4.15%, 03/01/47 (Call 09/01/46)^(a)		28,103		32,928,605
4.50%, 02/01/45 (Call 08/01/44)		24,980		30,575,990
4.60%, 09/01/35 (Call 03/01/35)^(a)		16,322		20,666,694
4.75%, 03/01/46 (Call 09/01/45)		34,353		43,651,990
4.80%, 04/01/44 (Call 10/01/43)^(a)		25,803		32,717,156
5.65%, 12/01/41 (Call 06/01/41)^(a)		14,907		20,554,341
Regeneron Pharmaceuticals Inc.
1.75%, 09/15/30 (Call 06/15/30)		20,393		19,685,769
2.80%, 09/15/50 (Call 03/15/50)		10,363		9,655,139
Royalty Pharma PLC
1.20%, 09/02/25 (Call 08/02/25)^(b)		11,050		10,989,681
1.75%, 09/02/27 (Call 07/02/27)^(b)		2,275		2,260,660
2.20%, 09/02/30 (Call 06/02/30)^(a)(b)		11,205		11,057,045
3.30%, 09/02/40 (Call 03/02/40)^(b)		13,195		12,906,673
3.55%, 09/02/50 (Call 03/02/50)^(b)		16,716		15,938,801


				904,993,565

Building Materials — 0.3%
Carrier Global Corp.
2.24%, 02/15/25 (Call 01/15/25)^(b)		31,630		33,035,653
2.49%, 02/15/27 (Call 12/15/26)^(a)(b)		20,489		21,489,009
2.70%, 02/15/31 (Call 11/15/30)^(b)		14,958		15,643,911
2.72%, 02/15/30 (Call 11/15/29)^(b)		31,566		33,005,312
3.38%, 04/05/40 (Call 10/05/39)^(b)		18,718		19,807,309
3.58%, 04/05/50 (Call 10/05/49)^(a)(b)		30,290		32,712,003


				155,693,197

Chemicals — 1.2%
Air Products and Chemicals Inc.
2.05%, 05/15/30 (Call 02/15/30)		12,721		13,268,250
2.70%, 05/15/40 (Call 11/15/39)		12,976		13,574,953
2.80%, 05/15/50 (Call 11/15/49)		15,117		15,675,895
Dow Chemical Co. (The)
2.10%, 11/15/30 (Call 08/15/30)		3,200		3,175,271
3.50%, 10/01/24 (Call 07/01/24)^(a)		13,537		14,770,482
3.60%, 11/15/50 (Call 05/15/50)		3,496		3,557,864
3.63%, 05/15/26 (Call 03/15/26)		13,458		14,973,771
4.38%, 11/15/42 (Call 05/15/42)^(a)		21,195		24,104,442
4.80%, 05/15/49 (Call 11/15/48)		11,068		13,318,447
5.25%, 11/15/41 (Call 05/15/41)^(a)		12,458		15,398,418
5.55%, 11/30/48 (Call 05/30/48)^(a)		10,707		14,157,623


Security	Par (000)		Value

Chemicals (continued)
7.38%, 11/01/29^(a)	$	12,608	$	17,607,812
9.40%, 05/15/39		11,765		20,132,617
DuPont de Nemours Inc.
4.21%, 11/15/23 (Call 10/15/23)		12,942		14,220,661
4.49%, 11/15/25 (Call 09/15/25)^(a)		31,859		36,738,477
4.73%, 11/15/28 (Call 08/15/28)		33,960		40,729,868
5.32%, 11/15/38 (Call 05/15/38)		24,731		32,005,211
5.42%, 11/15/48 (Call 05/15/48)		32,281		43,542,701
Eastman Chemical Co., 4.65%, 10/15/44 (Call 04/15/44)		14,268		16,794,020
Ecolab Inc.
2.70%, 11/01/26 (Call 08/01/26)^(a)		17,134		18,976,981
4.80%, 03/24/30 (Call 12/24/29)		13,039		16,515,291
LYB International Finance BV
4.88%, 03/15/44 (Call 09/15/43)		15,569		18,365,001
5.25%, 07/15/43		11,867		14,497,847
LYB International Finance II BV, 3.50%, 03/02/27 (Call 12/02/26)^(a)		18,995		20,883,984
LYB International Finance III LLC
3.38%, 10/01/40 (Call 04/01/40)		4,646		4,595,480
3.63%, 04/01/51 (Call 10/01/50)^(a)		20,285		20,113,460
4.20%, 10/15/49 (Call 04/15/49)^(a)		10,351		11,176,805
4.20%, 05/01/50 (Call 11/01/49)^(a)		12,069		13,077,051
LyondellBasell Industries NV
4.63%, 02/26/55 (Call 08/26/54)		13,147		14,564,896
5.75%, 04/15/24 (Call 01/15/24)^(a)		14,092		16,130,907
Mosaic Co. (The), 4.25%, 11/15/23 (Call 08/15/23)		8,073		8,762,032
Nutrien Ltd.
4.20%, 04/01/29 (Call 01/01/29)^(a)		11,304		13,286,136
5.00%, 04/01/49 (Call 10/01/48)		11,120		14,457,424
Rohm & Haas Co., 7.85%, 07/15/29		13,056		18,286,816
Sherwin-Williams Co. (The)
2.95%, 08/15/29 (Call 05/15/29)^(a)		18,337		20,030,072
3.45%, 06/01/27 (Call 03/01/27)^(a)		21,552		24,114,005
4.50%, 06/01/47 (Call 12/01/46)^(a)		19,085		23,894,351


				659,475,322

Commercial Services — 0.5%
Automatic Data Processing Inc.
1.25%, 09/01/30 (Call 06/01/30)		15,311		14,940,892
3.38%, 09/15/25 (Call 06/15/25)^(a)		2,091		2,353,691
Global Payments Inc.
2.65%, 02/15/25 (Call 01/15/25)^(a)		4,132		4,369,091
2.90%, 05/15/30 (Call 02/15/30)		9,143		9,709,675
3.20%, 08/15/29 (Call 05/15/29)^(a)		25,078		27,133,280
4.15%, 08/15/49 (Call 02/15/49)		11,643		13,394,482
4.80%, 04/01/26 (Call 01/01/26)		12,080		14,093,000
IHS Markit Ltd.
4.25%, 05/01/29 (Call 02/01/29)		16,747		19,198,210
4.75%, 08/01/28 (Call 05/01/28)		11,531		13,512,341
PayPal Holdings Inc.
1.65%, 06/01/25 (Call 05/01/25)		6,957		7,185,033
2.30%, 06/01/30 (Call 03/01/30)		15,723		16,506,461
2.40%, 10/01/24 (Call 09/01/24)		18,381		19,487,909
2.65%, 10/01/26 (Call 08/01/26)^(a)		24,884		27,054,587
2.85%, 10/01/29 (Call 07/01/29)		25,181		27,448,126
3.25%, 06/01/50 (Call 12/01/49)		15,052		16,244,443
RELX Capital Inc.
3.00%, 05/22/30 (Call 02/22/30)^(a)		11,397		12,322,561
4.00%, 03/18/29 (Call 12/18/28)		6,288		7,291,706


Security	Par (000)		Value

Commercial Services (continued)
Verisk Analytics Inc., 4.00%, 06/15/25 (Call 03/15/25)^(a)	$	8,806	$	9,916,759


				262,162,247

Computers — 3.3%
Apple Inc.
0.55%, 08/20/25 (Call 07/20/25)		2,395		2,383,525
1.13%, 05/11/25 (Call 04/11/25)^(a)		30,364		30,920,764
1.25%, 08/20/30 (Call 05/20/30)^(a)		19,649		19,381,766
1.65%, 05/11/30 (Call 02/11/30)		28,681		29,315,544
1.80%, 09/11/24 (Call 08/11/24)		11,018		11,498,631
2.05%, 09/11/26 (Call 07/11/26)		34,170		36,345,033
2.20%, 09/11/29 (Call 06/11/29)		28,739		30,696,758
2.40%, 08/20/50 (Call 06/20/50)		19,845		19,490,852
2.45%, 08/04/26 (Call 05/04/26)		33,994		36,807,615
2.50%, 02/09/25^(a)		23,707		25,495,802
2.55%, 08/20/60 (Call 02/20/60)		21,600		20,934,405
2.65%, 05/11/50 (Call 11/11/49)		32,352		32,787,562
2.75%, 01/13/25 (Call 11/13/24)		22,994		24,877,988
2.85%, 05/11/24 (Call 03/11/24)		14,816		15,904,789
2.90%, 09/12/27 (Call 06/12/27)		34,343		38,179,199
2.95%, 09/11/49 (Call 03/11/49)^(a)		23,786		25,437,950
3.00%, 02/09/24 (Call 12/09/23)		15,998		17,189,318
3.00%, 06/20/27 (Call 03/20/27)^(a)		16,729		18,650,399
3.00%, 11/13/27 (Call 08/13/27)^(a)		23,093		25,854,519
3.20%, 05/13/25		31,083		34,478,771
3.20%, 05/11/27 (Call 02/11/27)		33,346		37,541,237
3.25%, 02/23/26 (Call 11/23/25)		50,931		56,882,160
3.35%, 02/09/27 (Call 11/09/26)		34,230		38,775,015
3.45%, 05/06/24		23,899		26,264,408
3.45%, 02/09/45^(a)		30,051		34,970,039
3.75%, 09/12/47 (Call 03/12/47)		14,789		17,897,522
3.75%, 11/13/47 (Call 05/13/47)		18,738		22,726,819
3.85%, 05/04/43		44,462		54,467,106
3.85%, 08/04/46 (Call 02/04/46)^(a)		29,648		36,341,783
4.25%, 02/09/47 (Call 08/09/46)^(a)		15,029		19,590,120
4.38%, 05/13/45		29,721		39,248,548
4.45%, 05/06/44		16,024		21,264,952
4.50%, 02/23/36 (Call 08/23/35)^(a)		12,077		15,974,724
4.65%, 02/23/46 (Call 08/23/45)		58,498		79,706,374
Dell International LLC/EMC Corp.
4.00%, 07/15/24 (Call 06/15/24)^(b)		15,049		16,350,556
4.90%, 10/01/26 (Call 08/01/26)^(a)(b)		29,867		34,008,334
5.30%, 10/01/29 (Call 07/01/29)^(a)(b)		23,862		27,623,940
5.85%, 07/15/25 (Call 06/15/25)^(b)		15,382		18,023,429
6.02%, 06/15/26 (Call 03/15/26)^(b)		67,256		79,750,046
6.20%, 07/15/30 (Call 04/15/30)^(a)(b)		8,867		10,841,701
8.10%, 07/15/36 (Call 01/15/36)^(b)		23,686		31,917,932
8.35%, 07/15/46 (Call 01/15/46)^(b)		29,135		39,253,825
Hewlett Packard Enterprise Co.
1.45%, 04/01/24 (Call 03/01/24)		4,527		4,605,750
1.75%, 04/01/26 (Call 03/01/26)^(a)		11,437		11,495,651
4.65%, 10/01/24 (Call 09/01/24)		13,237		14,912,341
4.90%, 10/15/25 (Call 07/15/25)^(a)		43,865		50,344,269
6.20%, 10/15/35 (Call 04/15/35)		18,187		22,529,534
6.35%, 10/15/45 (Call 04/15/45)^(a)		17,400		22,247,939
HP Inc.
2.20%, 06/17/25 (Call 05/17/25)		13,632		14,266,587
3.00%, 06/17/27 (Call 04/17/27)		15,077		16,169,375
3.40%, 06/17/30 (Call 03/17/30)^(a)		10,968		11,668,633
6.00%, 09/15/41^(a)		18,785		22,914,093


Security	Par (000)		Value

Computers (continued)
International Business Machines Corp.
1.70%, 05/15/27 (Call 03/15/27)	$	22,891	$	23,411,562
1.95%, 05/15/30 (Call 02/15/30)		22,081		22,453,078
2.95%, 05/15/50 (Call 11/15/49)^(a)		14,829		14,892,560
3.00%, 05/15/24		41,717		45,050,117
3.30%, 05/15/26^(a)		44,063		49,425,154
3.45%, 02/19/26^(a)		23,361		26,276,745
3.50%, 05/15/29		46,513		53,160,517
3.63%, 02/12/24^(a)		30,506		33,390,882
4.00%, 06/20/42		14,814		17,527,612
4.15%, 05/15/39^(a)		31,769		38,734,175
4.25%, 05/15/49		38,052		46,898,904
Leidos Inc., 4.38%, 05/15/30 (Call 02/15/30)^(b)		307		357,222
NetApp Inc., 1.88%, 06/22/25 (Call 05/22/25)		12,010		12,400,947


				1,831,185,407

Cosmetics & Personal Care — 0.3%
Procter & Gamble Co. (The)
2.45%, 11/03/26^(a)		17,760		19,448,338
2.85%, 08/11/27		5,042		5,626,416
3.00%, 03/25/30		24,697		28,433,451
Unilever Capital Corp.
2.13%, 09/06/29 (Call 06/06/29)		12,973		13,749,125
2.60%, 05/05/24 (Call 03/05/24)		13,187		14,033,421
2.90%, 05/05/27 (Call 02/05/27)		15,859		17,492,453
3.50%, 03/22/28 (Call 12/22/27)^(a)		18,930		21,827,305
5.90%, 11/15/32		15,764		22,935,435


				143,545,944

Diversified Financial Services — 3.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.88%, 08/14/24 (Call 07/14/24)		14,353		14,051,300
3.50%, 01/15/25 (Call 11/15/24)		13,993		13,812,616
3.65%, 07/21/27 (Call 04/21/27)^(a)		20,225		19,011,500
4.88%, 01/16/24 (Call 12/16/23)^(a)		7,534		7,878,756
6.50%, 07/15/25 (Call 06/15/25)^(a)		12,137		13,365,871
Air Lease Corp.
2.30%, 02/01/25 (Call 01/01/25)^(a)		12,910		12,716,855
3.38%, 07/01/25 (Call 06/01/25)		6,917		7,038,203
3.75%, 06/01/26 (Call 04/01/26)^(a)		14,612		15,022,188
Ally Financial Inc.
3.88%, 05/21/24 (Call 04/21/24)^(a)		9,596		10,313,133
5.80%, 05/01/25 (Call 04/01/25)^(a)		6,703		7,802,220
8.00%, 11/01/31		34,113		46,563,222
American Express Co.
2.50%, 07/30/24 (Call 06/30/24)^(a)		21,689		22,993,366
3.00%, 10/30/24 (Call 09/29/24)^(a)		15,527		16,794,561
3.13%, 05/20/26 (Call 04/20/26)^(a)		20,969		23,339,535
3.40%, 02/22/24 (Call 01/22/24)^(a)		6,888		7,471,154
4.05%, 12/03/42^(a)		18,831		23,383,613
4.20%, 11/06/25 (Call 10/06/25)^(a)		15,540		17,955,368
American Express Credit Corp., 3.30%, 05/03/27 (Call 04/03/27)		32,672		36,796,066
Brookfield Finance Inc.
4.00%, 04/01/24 (Call 02/01/24)^(a)		5,631		6,163,369
4.35%, 04/15/30 (Call 01/15/30)		8,917		10,419,779
4.70%, 09/20/47 (Call 03/20/47)		14,061		16,253,580
4.85%, 03/29/29 (Call 12/29/28)^(a)		15,127		18,021,149
Capital One Financial Corp.
3.20%, 02/05/25 (Call 01/05/25)		17,328		18,663,543


Security	Par (000)		Value

Diversified Financial Services (continued)
3.30%, 10/30/24 (Call 09/30/24)^(a)	$	23,242	$	25,148,385
3.65%, 05/11/27 (Call 04/11/27)		11,620		12,895,397
3.75%, 04/24/24 (Call 03/24/24)		3,839		4,177,668
3.75%, 07/28/26 (Call 06/28/26)		23,703		26,007,451
3.75%, 03/09/27 (Call 02/09/27)		23,963		26,737,939
3.80%, 01/31/28 (Call 12/31/27)^(a)		23,652		26,483,331
3.90%, 01/29/24 (Call 12/29/23)^(a)		5,540		6,039,023
4.20%, 10/29/25 (Call 09/29/25)		24,197		26,904,456
4.25%, 04/30/25 (Call 03/31/25)^(a)		13,137		14,864,288
Charles Schwab Corp. (The), 3.85%, 05/21/25 (Call 03/21/25)		8,363		9,426,170
CME Group Inc.
3.00%, 03/15/25 (Call 12/15/24)^(a)		8,060		8,830,556
5.30%, 09/15/43 (Call 03/15/43)^(a)		12,399		17,990,283
Discover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)^(a)		16,089		18,008,199
GE Capital Funding LLC
3.45%, 05/15/25 (Call 04/15/25)^(a)(b)		7,167		7,657,095
4.05%, 05/15/27 (Call 03/15/27)^(a)(b)		19,609		21,250,073
4.40%, 05/15/30 (Call 02/15/30)^(b)		44,471		48,599,359
4.55%, 05/15/32 (Call 02/15/32)^(b)		8,368		9,163,781
GE Capital International Funding Co. Unlimited Co.
3.37%, 11/15/25^(a)		32,569		34,907,819
4.42%, 11/15/35		162,818		176,011,387
Intercontinental Exchange Inc.
1.85%, 09/15/32 (Call 06/15/32)		22,832		22,604,406
2.10%, 06/15/30 (Call 03/15/30)^(a)		21,099		21,663,010
2.65%, 09/15/40 (Call 03/15/40)		15,621		15,658,322
3.00%, 06/15/50 (Call 12/15/49)		17,993		18,673,078
3.00%, 09/15/60 (Call 03/15/60)		21,760		21,836,839
3.75%, 12/01/25 (Call 09/01/25)		19,895		22,539,330
4.25%, 09/21/48 (Call 03/21/48)		21,645		26,650,181
Jefferies Group LLC/Jefferies Group Capital Finance Inc.
4.15%, 01/23/30		15,540		17,654,829
4.85%, 01/15/27		9,931		11,418,240
Mastercard Inc.
2.00%, 03/03/25 (Call 02/03/25)		11,451		12,115,990
2.95%, 11/21/26 (Call 08/21/26)^(a)		12,776		14,294,442
2.95%, 06/01/29 (Call 03/01/29)		23,755		26,567,585
3.30%, 03/26/27 (Call 01/26/27)		16,129		18,274,549
3.35%, 03/26/30 (Call 12/26/29)		22,830		26,477,469
3.38%, 04/01/24^(a)		7,388		8,114,073
3.65%, 06/01/49 (Call 12/01/48)		18,289		21,950,763
3.85%, 03/26/50 (Call 09/26/49)		19,196		23,971,314
Nomura Holdings Inc.
1.85%, 07/16/25^(a)		9,914		10,081,297
2.65%, 01/16/25		22,073		23,224,809
2.68%, 07/16/30^(a)		15,170		15,498,135
3.10%, 01/16/30		24,437		25,789,793
Synchrony Financial
3.95%, 12/01/27 (Call 09/01/27)		16,606		18,093,878
4.25%, 08/15/24 (Call 05/15/24)^(a)		14,346		15,660,294
4.50%, 07/23/25 (Call 04/23/25)^(a)		18,142		20,159,592
Visa Inc.
1.10%, 02/15/31 (Call 11/15/30)		16,366		15,798,489
1.90%, 04/15/27 (Call 02/15/27)^(a)		22,927		24,181,542
2.00%, 08/15/50 (Call 02/15/50)^(a)		19,878		18,105,059
2.05%, 04/15/30 (Call 01/15/30)^(a)		27,521		29,022,697
2.70%, 04/15/40 (Call 10/15/39)		15,089		16,091,325


Security	Par (000)		Value

Diversified Financial Services (continued)
2.75%, 09/15/27 (Call 06/15/27)	$	10,822	$	11,922,659
3.15%, 12/14/25 (Call 09/14/25)		60,162		66,884,664
3.65%, 09/15/47 (Call 03/15/47)^(a)		13,099		15,946,751
4.15%, 12/14/35 (Call 06/14/35)		23,156		29,595,501
4.30%, 12/14/45 (Call 06/14/45)		52,465		68,621,245


				1,662,075,757

Electric — 2.8%
Ameren Corp., 3.50%, 01/15/31 (Call 10/15/30)		405		460,934
Avangrid Inc.
3.20%, 04/15/25 (Call 03/15/25)^(a)		14,640		16,040,164
3.80%, 06/01/29 (Call 03/01/29)^(a)		12,418		14,223,135
Berkshire Hathaway Energy Co.
2.85%, 05/15/51 (Call 11/15/50)^(b)		3,800		3,742,126
3.70%, 07/15/30 (Call 04/15/30)^(b)		17,313		20,139,860
3.80%, 07/15/48 (Call 01/15/48)		11,934		13,677,050
4.05%, 04/15/25 (Call 03/15/25)^(b)		5,451		6,188,771
4.25%, 10/15/50 (Call 04/15/50)^(b)		13,983		17,303,939
4.45%, 01/15/49 (Call 07/15/48)		13,391		16,943,099
4.50%, 02/01/45 (Call 08/01/44)		11,587		14,377,330
5.15%, 11/15/43 (Call 05/15/43)^(a)		11,127		14,843,889
6.13%, 04/01/36		25,861		36,881,926
Commonwealth Edison Co., 4.00%, 03/01/48 (Call 09/01/47)		13,734		16,650,522
Connecticut Light & Power Co. (The), 4.00%, 04/01/48 (Call 10/01/47)^(a)		9,386		11,638,640
Consolidated Edison Co. of New York Inc.
4.45%, 03/15/44 (Call 09/15/43)		11,855		14,488,946
4.63%, 12/01/54 (Call 06/01/54)		11,947		15,525,273
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)^(a)		15,486		18,256,584
Dominion Energy Inc.
3.90%, 10/01/25 (Call 07/01/25)		12,208		13,826,704
Series C, 3.38%, 04/01/30 (Call 01/01/30)		25,478		28,755,727
DTE Energy Co., Series F, 1.05%, 06/01/25 (Call 05/01/25)^(a)		12,052		12,089,812
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)^(a)		12,022		13,147,026
5.30%, 02/15/40^(a)		12,130		16,810,148
Duke Energy Corp.
2.45%, 06/01/30 (Call 03/01/30)		11,467		11,977,494
2.65%, 09/01/26 (Call 06/01/26)		23,108		24,848,876
3.15%, 08/15/27 (Call 05/15/27)		5,407		5,930,369
3.75%, 04/15/24 (Call 01/15/24)^(a)		7,582		8,310,414
3.75%, 09/01/46 (Call 03/01/46)		22,593		25,413,704
Duke Energy Florida LLC, 6.40%, 06/15/38^(a)		15,062		22,639,599
Emera U.S. Finance LP
3.55%, 06/15/26 (Call 03/15/26)^(a)		14,170		15,754,890
4.75%, 06/15/46 (Call 12/15/45)		19,578		23,642,430
Entergy Corp.
0.90%, 09/15/25 (Call 08/15/25)		12,284		12,284,563
2.95%, 09/01/26 (Call 06/01/26)		13,614		15,015,680
Entergy Louisiana LLC, 4.20%, 09/01/48 (Call 03/01/48)		14,584		18,212,343
Evergy Inc.
2.45%, 09/15/24 (Call 08/15/24)		13,077		13,831,577
2.90%, 09/15/29 (Call 06/15/29)		14,001		14,909,762
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)		14,037		15,646,583
3.95%, 06/15/25 (Call 03/15/25)		20,075		22,578,067
4.05%, 04/15/30 (Call 01/15/30)		18,180		21,050,044
4.45%, 04/15/46 (Call 10/15/45)^(a)		12,752		15,455,589


Security	Par (000)		Value

Electric (continued)
4.70%, 04/15/50 (Call 10/15/49)	$	11,012	$	13,956,618
Exelon Generation Co. LLC
3.25%, 06/01/25 (Call 05/01/25)		13,473		14,653,345
5.60%, 06/15/42 (Call 12/15/41)^(a)		12,428		13,941,298
6.25%, 10/01/39^(a)		11,467		13,737,355
FirstEnergy Corp.
Series B, 3.90%, 07/15/27 (Call 04/15/27)^(a)		23,226		24,766,372
Series C, 3.40%, 03/01/50 (Call 09/01/49)		9,205		8,454,179
Series C, 4.85%, 07/15/47 (Call 01/15/47)		14,929		16,344,006
Series C, 7.38%, 11/15/31		23,705		32,902,336
Florida Power & Light Co.
2.85%, 04/01/25 (Call 03/01/25)		11,506		12,525,437
3.15%, 10/01/49 (Call 04/01/49)^(a)		12,246		13,624,275
3.95%, 03/01/48 (Call 09/01/47)^(a)		15,543		19,516,148
Georgia Power Co., 4.30%, 03/15/42^(a)		20,107		23,790,619
MidAmerican Energy Co.
3.65%, 04/15/29 (Call 01/15/29)^(a)		9,321		10,931,024
4.25%, 07/15/49 (Call 01/15/49)^(a)		12,377		15,821,622
NextEra Energy Capital Holdings Inc.
2.25%, 06/01/30 (Call 03/01/30)		30,440		31,530,811
2.75%, 05/01/25 (Call 04/01/25)		19,210		20,712,291
2.75%, 11/01/29 (Call 08/01/29)^(a)		15,874		17,073,600
3.15%, 04/01/24 (Call 03/01/24)		14,963		16,136,906
3.55%, 05/01/27 (Call 02/01/27)^(a)		22,450		25,205,984
Pacific Gas & Electric Co.
2.10%, 08/01/27 (Call 06/01/27)		15,915		15,429,204
2.50%, 02/01/31 (Call 11/01/30)		31,199		29,498,739
3.15%, 01/01/26^(a)		27,159		27,755,276
3.30%, 12/01/27 (Call 09/01/27)		3,080		3,125,270
3.30%, 08/01/40 (Call 02/01/40)^(a)		25,235		23,168,052
3.45%, 07/01/25^(a)		4,134		4,314,485
3.50%, 08/01/50 (Call 02/01/50)		30,890		27,942,658
3.75%, 07/01/28^(a)		11,808		12,164,500
3.95%, 12/01/47 (Call 06/01/47)		1,342		1,255,247
4.50%, 07/01/40		29,407		30,077,391
4.55%, 07/01/30 (Call 01/01/30)		32,703		35,154,280
4.95%, 07/01/50 (Call 01/01/50)		34,167		36,109,025
PPL Capital Funding Inc., 4.13%, 04/15/30 (Call 01/15/30)^(a)		17,378		20,390,221
Public Service Enterprise Group Inc., 2.88%, 06/15/24 (Call 05/15/24)		6,318		6,775,390
San Diego Gas & Electric Co., Series VVV, 1.70%, 10/01/30 (Call 07/01/30)		12,547		12,462,786
Sempra Energy
3.25%, 06/15/27 (Call 03/15/27)		8,374		9,065,850
3.40%, 02/01/28 (Call 11/01/27)		22,380		24,423,173
3.80%, 02/01/38 (Call 08/01/37)^(a)		15,568		17,304,464
4.00%, 02/01/48 (Call 08/01/47)		9,047		10,213,302
6.00%, 10/15/39		13,403		18,279,002
Southern California Edison Co.
3.65%, 02/01/50 (Call 08/01/49)^(a)		17,746		18,462,552
4.00%, 04/01/47 (Call 10/01/46)		28,020		30,169,039
4.65%, 10/01/43 (Call 04/01/43)		11,752		13,321,528
Series C, 4.13%, 03/01/48 (Call 09/01/47)		20,498		22,603,842
Series E, 3.70%, 08/01/25 (Call 06/01/25)		11,251		12,441,766
Southern Co. (The)
3.25%, 07/01/26 (Call 04/01/26)^(a)		31,588		35,200,555
4.00%, 01/15/51 (Call 10/15/25)^(d)		9,880		10,041,242
4.40%, 07/01/46 (Call 01/01/46)^(a)		29,326		34,832,150
Series A, 3.70%, 04/30/30 (Call 01/30/30)		12,502		14,149,750


Security	Par (000)		Value

Electric (continued)
Virginia Electric & Power Co.
Series A, 3.15%, 01/15/26 (Call 10/15/25)^(a)	$	11,930	$	13,242,288
Series A, 3.50%, 03/15/27 (Call 12/15/26)		12,515		14,177,971


				1,552,688,813

Electrical Components & Equipment — 0.0%
Emerson Electric Co., 0.88%, 10/15/26 (Call 09/15/26)		12,488		12,383,756


Electronics — 0.2%
Honeywell International Inc.
1.35%, 06/01/25 (Call 05/01/25)		10,424		10,700,498
1.95%, 06/01/30 (Call 03/01/30)		19,235		20,040,002
2.30%, 08/15/24 (Call 07/15/24)		5,997		6,367,435
2.50%, 11/01/26 (Call 08/01/26)^(a)		24,525		26,783,983
2.70%, 08/15/29 (Call 05/15/29)		12,810		14,112,969
2.80%, 06/01/50 (Call 12/01/49)		10,880		11,471,170
Roper Technologies Inc.
1.75%, 02/15/31 (Call 11/15/30)		8,379		8,258,463
4.20%, 09/15/28 (Call 06/15/28)^(a)		11,816		13,974,181


				111,708,701

Environmental Control — 0.1%
Republic Services Inc.
2.50%, 08/15/24 (Call 07/15/24)^(a)		16,860		17,889,964
3.95%, 05/15/28 (Call 02/15/28)		11,025		12,838,275
Waste Management Inc.
3.15%, 11/15/27 (Call 08/15/27)^(a)		5,845		6,577,782
4.10%, 03/01/45 (Call 09/01/44)^(a)		8,020		9,809,821
4.15%, 07/15/49 (Call 01/15/49)^(a)		17,711		22,312,312


				69,428,154

Food — 1.0%
Campbell Soup Co.
3.95%, 03/15/25 (Call 01/15/25)^(a)		8,272		9,229,095
4.15%, 03/15/28 (Call 12/15/27)^(a)		20,982		24,256,459
Conagra Brands Inc.
1.38%, 11/01/27 (Call 09/01/27)		3,140		3,112,227
4.30%, 05/01/24 (Call 04/01/24)		16,352		18,178,170
4.60%, 11/01/25 (Call 09/01/25)		14,538		16,862,405
4.85%, 11/01/28 (Call 08/01/28)^(a)		23,276		28,499,574
5.30%, 11/01/38 (Call 05/01/38)		13,366		17,306,695
5.40%, 11/01/48 (Call 05/01/48)		13,939		19,100,103
General Mills Inc.
2.88%, 04/15/30 (Call 01/15/30)		13,426		14,534,225
3.20%, 02/10/27 (Call 11/10/26)^(a)		2,205		2,452,472
4.00%, 04/17/25 (Call 02/17/25)		15,703		17,730,430
4.20%, 04/17/28 (Call 01/17/28)^(a)		22,594		26,445,123
JM Smucker Co. (The), 3.50%, 03/15/25^(a)		16,552		18,509,787
Kellogg Co., 3.25%, 04/01/26^(a)		12,310		13,677,498
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		13,393		14,480,518
3.95%, 01/15/50 (Call 07/15/49)^(a)		13,589		15,836,622
4.45%, 02/01/47 (Call 08/01/46)		12,726		15,437,030
McCormick & Co. Inc., 3.40%, 08/15/27 (Call 05/15/27)^(a)		11,557		12,886,165
Mondelez International Inc.
1.50%, 05/04/25 (Call 04/04/25)		13,049		13,376,671
2.63%, 09/04/50 (Call 03/04/50)		12,469		11,810,629
2.75%, 04/13/30 (Call 01/13/30)		19,668		21,163,685
Sysco Corp.
3.25%, 07/15/27 (Call 04/15/27)^(a)		15,606		16,898,747
3.30%, 07/15/26 (Call 04/15/26)^(a)		9,429		10,271,312


Security	Par (000)		Value

Food (continued)
3.75%, 10/01/25 (Call 07/01/25)	$	11,876	$	13,148,103
5.65%, 04/01/25 (Call 03/01/25)^(a)		14,756		17,403,027
5.95%, 04/01/30 (Call 01/01/30)^(a)		18,808		23,943,237
6.60%, 04/01/40 (Call 10/01/39)		14,212		19,289,852
6.60%, 04/01/50 (Call 10/01/49)		15,394		21,485,986
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)		16,795		18,910,849
3.95%, 08/15/24 (Call 05/15/24)^(a)		4,705		5,231,443
4.00%, 03/01/26 (Call 01/01/26)		24,835		28,422,244
4.35%, 03/01/29 (Call 12/01/28)^(a)		17,292		20,840,628
4.55%, 06/02/47 (Call 12/02/46)		8,336		10,348,387
5.10%, 09/28/48 (Call 03/28/48)^(a)		21,805		29,445,821


				570,525,219

Forest Products & Paper — 0.1%
International Paper Co.
4.35%, 08/15/48 (Call 02/15/48)^(a)		16,381		20,105,109
4.40%, 08/15/47 (Call 02/15/47)^(a)		17,052		20,889,126
4.80%, 06/15/44 (Call 12/15/43)		10,391		12,851,823


				53,846,058

Gas — 0.2%
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)		11,055		13,527,666
NiSource Inc.
0.95%, 08/15/25 (Call 07/15/25)^(a)		13,608		13,560,503
1.70%, 02/15/31 (Call 11/15/30)		10,792		10,540,936
2.95%, 09/01/29 (Call 06/01/29)		13,550		14,650,737
3.49%, 05/15/27 (Call 02/15/27)		16,292		18,099,926
3.60%, 05/01/30 (Call 02/01/30)		15,192		17,250,832
3.95%, 03/30/48 (Call 09/30/47)^(a)		7,450		8,652,263
4.38%, 05/15/47 (Call 11/15/46)		15,269		18,699,920
4.80%, 02/15/44 (Call 08/15/43)^(a)		13,092		16,428,487


				131,411,270

Hand & Machine Tools — 0.0%
Stanley Black & Decker Inc., 2.30%, 03/15/30 (Call 12/15/29)^(a)		9,371		9,945,696


Health Care - Products — 1.2%
Abbott Laboratories
2.95%, 03/15/25 (Call 12/15/24)^(a)		15,139		16,571,855
3.40%, 11/30/23 (Call 09/30/23)		2,158		2,337,589
3.75%, 11/30/26 (Call 08/30/26)^(a)		25,915		30,078,779
4.75%, 11/30/36 (Call 05/30/36)		24,655		32,852,048
4.90%, 11/30/46 (Call 05/30/46)		49,599		69,791,527
Baxter International Inc.
2.60%, 08/15/26 (Call 05/15/26)^(a)		13,135		14,262,565
3.75%, 10/01/25 (Call 09/01/25)^(b)		12,423		14,017,752
Boston Scientific Corp.
2.65%, 06/01/30 (Call 03/01/30)		16,637		17,481,599
3.45%, 03/01/24 (Call 02/01/24)^(a)		3,627		3,919,833
3.75%, 03/01/26 (Call 01/01/26)		20,256		22,962,965
4.00%, 03/01/29 (Call 12/01/28)		12,540		14,465,147
4.55%, 03/01/39 (Call 09/01/38)		12,103		14,964,615
4.70%, 03/01/49 (Call 09/01/48)		15,868		20,467,337
Danaher Corp., 2.60%, 10/01/50 (Call 04/01/50)		11,325		11,306,014
DH Europe Finance II Sarl
2.60%, 11/15/29 (Call 08/15/29)^(a)		14,529		15,744,586
3.25%, 11/15/39 (Call 05/15/39)		13,831		15,324,224
3.40%, 11/15/49 (Call 05/15/49)^(a)		14,085		16,056,499
Medtronic Inc.
3.50%, 03/15/25		26,469		29,704,391


Security	Par (000)		Value

Health Care - Products (continued)
4.38%, 03/15/35^(a)	$	29,808	$	39,696,729
4.63%, 03/15/45		27,451		37,332,251
Stryker Corp.
1.95%, 06/15/30 (Call 03/15/30)		14,220		14,414,176
3.38%, 11/01/25 (Call 08/01/25)		9,510		10,583,553
3.50%, 03/15/26 (Call 12/15/25)		24,911		28,026,552
4.63%, 03/15/46 (Call 09/15/45)		15,250		19,551,628
Thermo Fisher Scientific Inc.
2.60%, 10/01/29 (Call 07/01/29)^(a)		16,885		18,345,731
2.95%, 09/19/26 (Call 06/19/26)^(a)		21,186		23,423,642
3.20%, 08/15/27 (Call 05/15/27)		11,084		12,401,454
4.10%, 08/15/47 (Call 02/15/47)^(a)		12,564		15,874,119
4.13%, 03/25/25 (Call 02/25/25)^(a)		14,308		16,242,003
4.15%, 02/01/24 (Call 11/01/23)^(a)		2,582		2,843,279
4.50%, 03/25/30 (Call 12/25/29)^(a)		13,558		16,805,297
Zimmer Biomet Holdings Inc.
3.55%, 04/01/25 (Call 01/01/25)		31,175		34,289,594
3.55%, 03/20/30 (Call 12/20/29)^(a)		14,574		16,154,552


				668,293,885

Health Care - Services — 2.0%
Aetna Inc.
3.50%, 11/15/24 (Call 08/15/24)^(a)		11,857		12,953,497
3.88%, 08/15/47 (Call 02/15/47)		15,995		17,721,515
6.63%, 06/15/36		11,978		16,917,076
Anthem Inc.
2.25%, 05/15/30 (Call 02/15/30)		14,322		14,718,171
2.38%, 01/15/25 (Call 12/15/24)^(a)		23,572		25,006,165
2.88%, 09/15/29 (Call 06/15/29)^(a)		8,250		8,882,966
3.13%, 05/15/50 (Call 11/15/49)^(a)		14,127		14,548,897
3.35%, 12/01/24 (Call 10/01/24)		16,151		17,702,837
3.50%, 08/15/24 (Call 05/15/24)		7,961		8,700,446
3.65%, 12/01/27 (Call 09/01/27)		21,201		23,967,752
3.70%, 09/15/49 (Call 03/15/49)^(a)		12,770		14,472,093
4.10%, 03/01/28 (Call 12/01/27)^(a)		14,254		16,419,823
4.38%, 12/01/47 (Call 06/01/47)		16,331		20,143,354
4.55%, 03/01/48 (Call 09/01/47)		11,365		14,363,442
4.63%, 05/15/42		15,565		19,325,784
4.65%, 01/15/43		16,464		20,654,831
4.65%, 08/15/44 (Call 02/15/44)		13,056		16,403,241
CommonSpirit Health
2.76%, 10/01/24 (Call 07/01/24)		5,131		5,381,064
3.35%, 10/01/29 (Call 04/01/29)		15,157		15,827,653
4.19%, 10/01/49 (Call 04/01/49)^(a)		10,590		10,787,267
HCA Inc.
4.13%, 06/15/29 (Call 03/15/29)^(a)		30,335		34,420,096
4.50%, 02/15/27 (Call 08/15/26)^(a)		17,998		20,340,861
5.00%, 03/15/24^(a)		28,264		31,598,824
5.13%, 06/15/39 (Call 12/15/38)^(a)		12,969		15,665,561
5.25%, 04/15/25		21,171		24,476,208
5.25%, 06/15/26 (Call 12/15/25)		27,368		31,877,592
5.25%, 06/15/49 (Call 12/15/48)^(a)		29,167		35,576,285
5.50%, 06/15/47 (Call 12/15/46)^(a)		22,711		28,260,526
Humana Inc., 4.95%, 10/01/44 (Call 04/01/44)^(a)		11,202		14,631,172
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		22,079		27,085,623
Series 2019, 3.27%, 11/01/49 (Call 05/01/49)		15,416		16,659,969
Laboratory Corp. of America Holdings
3.60%, 02/01/25 (Call 11/01/24)^(a)		17,290		19,095,883
4.70%, 02/01/45 (Call 08/01/44)		14,026		17,639,994


Security	Par (000)		Value

Health Care - Services (continued)
Quest Diagnostics Inc., 2.95%, 06/30/30 (Call 03/30/30)^(a)	$	14,461	$	15,642,629
UnitedHealth Group Inc.
2.00%, 05/15/30 (Call 02/15/30)^(a)		16,354		17,024,180
2.38%, 08/15/24		12,432		13,228,993
2.75%, 05/15/40 (Call 11/15/39)^(a)		16,139		16,864,911
2.88%, 08/15/29		15,746		17,479,110
2.90%, 05/15/50 (Call 11/15/49)		12,314		12,813,556
2.95%, 10/15/27^(a)		15,361		17,064,689
3.10%, 03/15/26^(a)		13,705		15,265,620
3.13%, 05/15/60 (Call 11/15/59)		15,567		16,741,690
3.45%, 01/15/27		11,504		13,082,796
3.50%, 02/15/24^(a)		4,643		5,078,344
3.50%, 08/15/39 (Call 02/15/39)		19,171		21,887,604
3.70%, 08/15/49 (Call 02/15/49)^(a)		19,344		23,002,136
3.75%, 07/15/25		29,616		33,644,670
3.75%, 10/15/47 (Call 04/15/47)		14,511		17,210,622
3.85%, 06/15/28^(a)		15,148		17,752,674
3.88%, 12/15/28		10,371		12,244,800
3.88%, 08/15/59 (Call 02/15/59)^(a)		20,257		24,541,819
4.20%, 01/15/47 (Call 07/15/46)		10,918		13,704,916
4.25%, 03/15/43 (Call 09/15/42)		7,932		9,959,417
4.25%, 06/15/48 (Call 12/15/47)		20,756		26,419,254
4.45%, 12/15/48 (Call 06/15/48)		17,775		23,374,141
4.63%, 07/15/35		15,712		20,622,599
4.75%, 07/15/45		29,979		40,376,431
5.80%, 03/15/36		13,125		18,828,595
6.88%, 02/15/38^(a)		16,973		27,227,169


				1,123,309,833

Holding Companies - Diversified — 0.1%
Ares Capital Corp.
3.25%, 07/15/25 (Call 06/15/25)^(a)		13,330		13,361,745
3.88%, 01/15/26 (Call 12/15/25)^(a)		9,345		9,573,082
4.20%, 06/10/24 (Call 05/10/24)		15,306		15,956,653


				38,891,480

Household Products & Wares — 0.0%
Kimberly-Clark Corp., 3.10%, 03/26/30 (Call 12/26/29)^(a)		13,028		14,853,043


Insurance — 2.0%
Aflac Inc.
3.60%, 04/01/30 (Call 01/01/30)^(a)		15,680		18,165,702
3.63%, 11/15/24^(a)		13,754		15,298,809
American International Group Inc.
2.50%, 06/30/25 (Call 05/30/25)		18,754		20,087,865
3.40%, 06/30/30 (Call 03/30/30)^(a)		18,903		21,010,677
3.75%, 07/10/25 (Call 04/10/25)		17,800		19,944,119
3.88%, 01/15/35 (Call 07/15/34)^(a)		18,775		21,717,846
3.90%, 04/01/26 (Call 01/01/26)		27,735		31,627,710
4.13%, 02/15/24		964		1,065,617
4.20%, 04/01/28 (Call 01/01/28)^(a)		12,772		14,865,370
4.38%, 06/30/50 (Call 12/30/49)		15,189		18,286,737
4.38%, 01/15/55 (Call 07/15/54)		11,994		14,098,185
4.50%, 07/16/44 (Call 01/16/44)		32,512		39,000,378
4.75%, 04/01/48 (Call 10/01/47)		15,169		18,986,572
4.80%, 07/10/45 (Call 01/10/45)^(a)		11,704		14,531,283
6.25%, 05/01/36		13,023		18,120,414
Aon Corp.
2.80%, 05/15/30 (Call 02/15/30)		17,620		18,866,856
3.75%, 05/02/29 (Call 02/02/29)		11,593		13,295,689


Security	Par (000)		Value

Insurance (continued)
Aon PLC, 3.88%, 12/15/25 (Call 09/15/25)^(a)	$	11,946	$	13,611,296
Arch Capital Group Ltd., 3.64%, 06/30/50 (Call 12/30/49)		14,115		15,166,696
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)^(a)		18,289		19,711,884
Berkshire Hathaway Finance Corp.
1.45%, 10/15/30 (Call 07/15/30)^(a)		10,504		10,369,967
2.85%, 10/15/50 (Call 04/15/50)		18,047		18,327,609
4.20%, 08/15/48 (Call 02/15/48)		33,862		42,333,257
4.25%, 01/15/49 (Call 07/15/48)		27,867		35,195,514
5.75%, 01/15/40^(a)		11,521		17,249,149
Berkshire Hathaway Inc.
3.13%, 03/15/26 (Call 12/15/25)		47,617		53,159,790
4.50%, 02/11/43^(a)		14,156		18,644,127
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		23,236		24,409,207
4.70%, 06/22/47 (Call 12/22/46)		20,474		19,871,188
Chubb Corp. (The), 6.00%, 05/11/37^(a)		10,560		15,438,186
Chubb INA Holdings Inc.
3.15%, 03/15/25		10,872		11,941,554
3.35%, 05/03/26 (Call 02/03/26)		13,649		15,394,789
4.35%, 11/03/45 (Call 05/03/45)		16,016		20,738,561
Equitable Holdings Inc.
4.35%, 04/20/28 (Call 01/20/28)^(a)		21,312		24,471,645
5.00%, 04/20/48 (Call 10/20/47)		21,178		25,156,714
Manulife Financial Corp.
4.15%, 03/04/26^(a)		13,034		15,170,932
5.38%, 03/04/46^(a)		9,605		13,420,796
Marsh & McLennan Companies Inc.
2.25%, 11/15/30 (Call 08/15/30)		10,119		10,522,762
3.88%, 03/15/24 (Call 02/15/24)		4,723		5,212,014
4.38%, 03/15/29 (Call 12/15/28)		23,591		28,367,592
4.90%, 03/15/49 (Call 09/15/48)^(a)		18,653		25,776,745
MetLife Inc.
3.60%, 04/10/24^(a)		4,959		5,447,808
4.05%, 03/01/45^(a)		15,019		18,055,701
4.13%, 08/13/42		11,339		13,570,674
4.55%, 03/23/30 (Call 12/23/29)^(a)		10,795		13,386,249
4.60%, 05/13/46 (Call 11/13/45)^(a)		11,079		14,314,020
4.88%, 11/13/43^(a)		14,138		18,649,603
5.70%, 06/15/35		15,346		22,178,111
5.88%, 02/06/41		9,948		14,345,790
6.38%, 06/15/34^(a)		13,507		20,250,132
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)^(a)		11,369		14,310,860
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)		20,273		22,349,223
3.91%, 12/07/47 (Call 06/07/47)		13,784		15,452,202
3.94%, 12/07/49 (Call 06/07/49)		14,893		16,800,704
4.35%, 02/25/50 (Call 08/25/49)		15,246		18,296,962
4.60%, 05/15/44^(a)		13,717		16,881,007
5.70%, 12/14/36		10,076		14,159,222
Travelers Companies Inc. (The)
5.35%, 11/01/40^(a)		11,249		15,858,895
6.25%, 06/15/37^(a)		13,224		19,730,668


				1,112,669,634

Internet — 1.4%
Alphabet Inc.
0.45%, 08/15/25 (Call 07/15/25)^(a)		8,136		8,077,351
0.80%, 08/15/27 (Call 06/15/27)^(a)		11,046		10,919,028
1.10%, 08/15/30 (Call 05/15/30)		33,307		32,520,898


Security	Par (000)		Value

Internet (continued)
1.90%, 08/15/40 (Call 02/15/40)	$	19,665	$	18,555,564
2.00%, 08/15/26 (Call 05/15/26)		26,432		28,194,607
2.05%, 08/15/50 (Call 02/15/50)^(a)		35,798		32,325,655
2.25%, 08/15/60 (Call 02/15/60)		28,837		25,777,103
3.38%, 02/25/24		4,114		4,489,543
Amazon.com Inc.
0.80%, 06/03/25 (Call 05/03/25)		16,338		16,456,679
1.20%, 06/03/27 (Call 04/03/27)		19,695		19,896,850
1.50%, 06/03/30 (Call 03/03/30)		30,218		30,520,274
2.50%, 06/03/50 (Call 12/03/49)		33,841		33,636,384
2.70%, 06/03/60 (Call 12/03/59)		29,139		29,599,752
2.80%, 08/22/24 (Call 06/22/24)		28,694		30,947,612
3.15%, 08/22/27 (Call 05/22/27)		52,473		59,446,751
3.80%, 12/05/24 (Call 09/05/24)^(a)		10,256		11,485,359
3.88%, 08/22/37 (Call 02/22/37)^(a)		40,150		49,231,794
4.05%, 08/22/47 (Call 02/22/47)		51,758		66,144,550
4.25%, 08/22/57 (Call 02/22/57)		32,731		43,100,004
4.80%, 12/05/34 (Call 06/05/34)		18,988		25,809,025
4.95%, 12/05/44 (Call 06/05/44)		24,021		33,942,576
5.20%, 12/03/25 (Call 09/03/25)^(a)		5,051		6,101,591
Booking Holdings Inc.
3.60%, 06/01/26 (Call 03/01/26)^(a)		15,561		17,240,538
4.10%, 04/13/25 (Call 03/13/25)^(a)		15,318		17,161,572
4.50%, 04/13/27 (Call 02/13/27)		12,007		13,933,191
4.63%, 04/13/30 (Call 01/13/30)		22,538		26,678,028
eBay Inc.
1.90%, 03/11/25 (Call 02/11/25)		11,247		11,652,714
2.70%, 03/11/30 (Call 12/11/29)		10,722		11,229,880
3.45%, 08/01/24 (Call 05/01/24)^(a)		13,396		14,567,966
3.60%, 06/05/27 (Call 03/05/27)		16,651		18,545,776
4.00%, 07/15/42 (Call 01/15/42)^(a)		13,199		14,501,568
Expedia Group Inc.
3.25%, 02/15/30 (Call 11/15/29)		16,300		15,858,596
3.80%, 02/15/28 (Call 11/15/27)^(a)		13,382		13,491,197
4.63%, 08/01/27 (Call 05/01/27)^(b)		912		957,600
5.00%, 02/15/26 (Call 11/15/25)		3,566		3,811,163
TD Ameritrade Holding Corp., 3.30%, 04/01/27 (Call 01/01/27)		12,404		13,824,005


				810,632,744

Lodging — 0.3%
Las Vegas Sands Corp.
3.20%, 08/08/24 (Call 07/08/24)		26,192		26,486,424
3.50%, 08/18/26 (Call 06/18/26)^(a)		20,132		20,202,228
3.90%, 08/08/29 (Call 05/08/29)		12,128		12,100,460
Marriott International Inc./MD
4.63%, 06/15/30 (Call 03/15/30)		11,548		12,329,664
Series EE, 5.75%, 05/01/25 (Call 04/01/25)		25,826		28,740,981
Series GG, 3.50%, 10/15/32 (Call 07/15/32)		11,608		11,507,359
Series R, 3.13%, 06/15/26 (Call 03/15/26)		13,468		13,417,697
Sands China Ltd.
3.80%, 01/08/26 (Call 12/08/25)^(b)		475		483,529
5.13%, 08/08/25 (Call 06/08/25)		6,207		6,677,491
5.40%, 08/08/28 (Call 05/08/28)		15,787		17,129,847


				149,075,680

Machinery — 0.5%
ABB Finance USA Inc.
3.80%, 04/03/28 (Call 01/03/28)^(a)		8,792		10,387,073
4.38%, 05/08/42		11,121		14,294,548


Security	Par (000)		Value

Machinery (continued)
Caterpillar Financial Services Corp.
1.10%, 09/14/27	$	12,307	$	12,241,272
2.15%, 11/08/24^(a)		14,611		15,418,107
Caterpillar Inc.
2.60%, 04/09/30 (Call 01/09/30)^(a)		13,912		15,091,697
3.25%, 09/19/49 (Call 03/19/49)		14,312		15,872,988
3.25%, 04/09/50 (Call 10/09/49)		18,759		20,903,662
3.40%, 05/15/24 (Call 02/15/24)^(a)		4,494		4,898,751
3.80%, 08/15/42^(a)		22,648		27,532,256
5.20%, 05/27/41^(a)		14,513		20,362,722
Deere & Co.
3.75%, 04/15/50 (Call 10/15/49)		14,072		17,466,614
3.90%, 06/09/42 (Call 12/09/41)^(a)		13,884		17,315,135
John Deere Capital Corp., 3.45%, 03/13/25^(a)		11,841		13,196,895
Otis Worldwide Corp.
2.06%, 04/05/25 (Call 03/05/25)^(a)		12,544		13,158,115
2.57%, 02/15/30 (Call 11/15/29)		22,347		23,762,526
3.11%, 02/15/40 (Call 08/15/39)		15,557		16,508,309
Westinghouse Air Brake Technologies Corp.
3.45%, 11/15/26 (Call 08/15/26)		11,467		12,284,327
4.40%, 03/15/24 (Call 02/15/24)^(a)		4,524		4,932,339
4.95%, 09/15/28 (Call 06/15/28)		20,898		24,080,431


				299,707,767

Manufacturing — 0.9%
3M Co.
2.00%, 02/14/25 (Call 01/14/25)^(a)		9,275		9,782,303
2.38%, 08/26/29 (Call 05/26/29)^(a)		14,733		15,754,620
2.88%, 10/15/27 (Call 07/15/27)		13,730		15,161,896
3.25%, 02/14/24 (Call 01/14/24)^(a)		12,817		13,897,072
3.25%, 08/26/49 (Call 02/26/49)^(a)		15,426		17,131,991
3.38%, 03/01/29 (Call 12/01/28)^(a)		12,377		14,137,427
4.00%, 09/14/48 (Call 03/14/48)^(a)		17,252		21,449,308
Eaton Corp., 4.15%, 11/02/42^(a)		15,425		18,781,954
General Electric Co.
3.45%, 05/01/27 (Call 03/01/27)		15,235		16,127,177
3.63%, 05/01/30 (Call 02/01/30)^(a)		20,165		21,242,351
4.13%, 10/09/42^(a)		13,160		13,556,067
4.25%, 05/01/40 (Call 11/01/39)^(a)		23,509		24,770,698
4.35%, 05/01/50 (Call 11/01/49)		50,411		53,548,172
4.50%, 03/11/44		12,822		13,825,157
5.88%, 01/14/38		44,679		53,853,288
6.15%, 08/07/37		15,919		19,477,973
6.75%, 03/15/32		45,372		58,088,528
6.88%, 01/10/39		31,162		41,145,426
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)		20,074		22,129,197
3.90%, 09/01/42 (Call 03/01/42)^(a)		13,379		16,230,205
Parker-Hannifin Corp.
3.25%, 06/14/29 (Call 03/14/29)^(a)		15,918		17,839,624
4.00%, 06/14/49 (Call 12/14/48)^(a)		10,525		12,359,846
Trane Technologies Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)^(a)		16,750		19,521,522


				529,811,802

Media — 5.2%
Charter Communications Operating LLC/Charter Communications Operating Capital
2.80%, 04/01/31 (Call 01/01/31)		23,399		24,228,860
3.70%, 04/01/51 (Call 10/01/50)^(a)		17,997		17,500,731
3.75%, 02/15/28 (Call 11/15/27)		11,844		13,040,782


Security	Par (000)		Value

Media (continued)
4.20%, 03/15/28 (Call 12/15/27)	$	21,965	$	24,786,912
4.50%, 02/01/24 (Call 01/01/24)		11,986		13,252,227
4.80%, 03/01/50 (Call 09/01/49)		35,788		40,736,396
4.91%, 07/23/25 (Call 04/23/25)		69,264		79,690,663
5.05%, 03/30/29 (Call 12/30/28)		21,598		25,719,222
5.13%, 07/01/49 (Call 01/01/49)		19,618		22,804,450
5.38%, 04/01/38 (Call 10/01/37)		11,625		13,887,432
5.38%, 05/01/47 (Call 11/01/46)		38,160		45,537,152
5.75%, 04/01/48 (Call 10/01/47)		36,999		45,919,433
6.38%, 10/23/35 (Call 04/23/35)		30,280		40,854,651
6.48%, 10/23/45 (Call 04/23/45)		51,753		69,756,860
Comcast Corp.
1.50%, 02/15/31 (Call 11/15/30)		24,894		24,294,931
1.95%, 01/15/31 (Call 10/15/30)		24,611		24,968,832
2.35%, 01/15/27 (Call 10/15/26)		24,034		25,615,851
2.45%, 08/15/52 (Call 02/15/52)		22,127		20,308,641
2.65%, 02/01/30 (Call 11/01/29)		26,444		28,450,388
2.65%, 08/15/62 (Call 02/15/62)		16,045		15,100,259
2.80%, 01/15/51 (Call 07/15/50)^(a)		21,777		21,538,420
3.00%, 02/01/24 (Call 01/01/24)^(a)		10,604		11,390,196
3.10%, 04/01/25 (Call 03/01/25)		13,145		14,431,811
3.15%, 03/01/26 (Call 12/01/25)		38,066		42,282,575
3.15%, 02/15/28 (Call 11/15/27)		28,722		31,995,811
3.20%, 07/15/36 (Call 01/15/36)^(a)		6,216		6,908,308
3.25%, 11/01/39 (Call 05/01/39)		18,579		20,426,724
3.30%, 02/01/27 (Call 11/01/26)		21,513		24,068,065
3.30%, 04/01/27 (Call 02/01/27)		12,923		14,504,200
3.38%, 02/15/25 (Call 11/15/24)^(a)		15,376		16,977,738
3.38%, 08/15/25 (Call 05/15/25)^(a)		25,046		27,905,407
3.40%, 04/01/30 (Call 01/01/30)		28,186		32,133,613
3.40%, 07/15/46 (Call 01/15/46)		21,730		23,851,180
3.45%, 02/01/50 (Call 08/01/49)^(a)		27,391		30,534,030
3.55%, 05/01/28 (Call 02/01/28)^(a)		16,813		19,240,380
3.60%, 03/01/24^(a)		3,593		3,945,580
3.70%, 04/15/24 (Call 03/15/24)^(a)		32,335		35,606,226
3.75%, 04/01/40 (Call 10/01/39)		23,540		27,425,060
3.90%, 03/01/38 (Call 09/01/37)^(a)		18,401		21,641,434
3.95%, 10/15/25 (Call 08/15/25)		43,940		50,285,125
3.97%, 11/01/47 (Call 05/01/47)^(a)		30,317		36,286,354
4.00%, 08/15/47 (Call 02/15/47)		13,763		16,463,034
4.00%, 03/01/48 (Call 09/01/47)		16,282		19,523,245
4.00%, 11/01/49 (Call 05/01/49)		30,818		37,109,892
4.05%, 11/01/52 (Call 05/01/52)^(a)		22,359		27,385,688
4.15%, 10/15/28 (Call 07/15/28)		56,209		66,903,442
4.20%, 08/15/34 (Call 02/15/34)		12,997		15,935,275
4.25%, 10/15/30 (Call 07/15/30)		24,684		30,147,433
4.25%, 01/15/33		28,181		34,576,892
4.40%, 08/15/35 (Call 02/15/35)		11,946		14,934,427
4.60%, 10/15/38 (Call 04/15/38)		41,946		53,221,349
4.60%, 08/15/45 (Call 02/15/45)^(a)		25,019		31,906,420
4.65%, 07/15/42		19,122		24,677,322
4.70%, 10/15/48 (Call 04/15/48)^(a)		56,415		75,101,177
4.75%, 03/01/44		15,454		20,158,680
4.95%, 10/15/58 (Call 04/15/58)^(a)		33,942		48,733,323
5.65%, 06/15/35		11,698		16,338,147
6.45%, 03/15/37		10,083		14,975,217
6.50%, 11/15/35^(a)		15,890		23,997,409
6.95%, 08/15/37^(a)		10,273		16,105,343
7.05%, 03/15/33^(a)		12,579		19,005,349


Security	Par (000)		Value

Media (continued)
Discovery Communications LLC
3.63%, 05/15/30 (Call 02/15/30)	$	8,142	$	8,999,754
3.95%, 03/20/28 (Call 12/20/27)^(a)		31,042		34,914,036
4.00%, 09/15/55 (Call 03/15/55)^(a)(b)		42,446		43,061,696
4.13%, 05/15/29 (Call 02/15/29)^(a)		8,304		9,457,225
4.65%, 05/15/50 (Call 11/15/49)^(a)		11,065		12,467,701
5.20%, 09/20/47 (Call 03/20/47)^(a)		16,723		19,864,926
5.30%, 05/15/49 (Call 11/15/48)^(a)		7,232		8,685,426
Fox Corp.
4.03%, 01/25/24 (Call 12/25/23)		5,021		5,505,708
4.71%, 01/25/29 (Call 10/25/28)		31,199		37,071,656
5.48%, 01/25/39 (Call 07/25/38)^(a)		19,093		25,401,331
5.58%, 01/25/49 (Call 07/25/48)^(a)		23,743		32,400,735
NBCUniversal Media LLC
4.45%, 01/15/43		16,074		20,241,607
5.95%, 04/01/41		18,339		27,129,526
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)^(a)		16,377		17,692,094
5.50%, 09/01/41 (Call 03/01/41)^(a)		19,569		23,523,617
5.88%, 11/15/40 (Call 05/15/40)^(a)		16,426		20,305,632
6.55%, 05/01/37		21,388		28,147,207
6.75%, 06/15/39		22,850		30,647,800
7.30%, 07/01/38^(a)		22,524		31,420,723
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		18,625		28,295,061
TWDC Enterprises 18 Corp.
1.85%, 07/30/26^(a)		18,732		19,604,036
2.95%, 06/15/27^(a)		13,623		14,913,497
3.00%, 02/13/26		16,454		18,177,871
3.15%, 09/17/25		11,198		12,412,630
4.13%, 06/01/44		14,951		17,983,501
ViacomCBS Inc.
4.00%, 01/15/26 (Call 10/15/25)^(a)		14,150		15,908,720
4.20%, 05/19/32 (Call 02/19/32)^(a)		21,317		24,555,187
4.38%, 03/15/43^(a)		18,988		20,532,757
4.75%, 05/15/25 (Call 04/15/25)^(a)		22,486		25,770,130
4.95%, 01/15/31 (Call 10/15/30)^(a)		15,813		19,144,138
4.95%, 05/19/50 (Call 11/19/49)^(a)		17,656		20,816,616
5.85%, 09/01/43 (Call 03/01/43)^(a)		17,722		22,225,858
6.88%, 04/30/36		18,216		24,894,933
7.88%, 07/30/30^(a)		12,900		18,533,402
Walt Disney Co. (The)
1.75%, 08/30/24 (Call 07/30/24)		15,899		16,492,583
1.75%, 01/13/26		28,700		29,797,855
2.00%, 09/01/29 (Call 06/01/29)		30,529		31,268,425
2.20%, 01/13/28		16,431		17,208,083
2.65%, 01/13/31^(a)		36,008		38,622,404
2.75%, 09/01/49 (Call 03/01/49)^(a)		21,584		20,789,728
3.35%, 03/24/25^(a)		26,826		29,692,769
3.50%, 05/13/40 (Call 11/13/39)^(a)		25,784		28,682,351
3.60%, 01/13/51 (Call 07/13/50)		39,955		44,368,289
3.80%, 03/22/30^(a)		18,451		21,631,284
3.80%, 05/13/60 (Call 11/13/59)		21,952		25,224,069
4.63%, 03/23/40 (Call 09/23/39)		11,749		14,788,277
4.70%, 03/23/50 (Call 09/23/49)^(a)		25,048		32,792,679
6.20%, 12/15/34		15,984		23,259,445
6.40%, 12/15/35		16,054		24,002,970
6.65%, 11/15/37		18,648		27,906,320


				2,904,266,242


Security	Par (000)		Value

Metal Fabricate & Hardware — 0.0%
Precision Castparts Corp., 3.25%, 06/15/25 (Call 03/15/25)^(a)	$	12,322	$	13,610,564


Mining — 0.5%
Barrick Gold Corp., 5.25%, 04/01/42^(a)		11,223		15,193,340
Barrick North America Finance LLC
5.70%, 05/30/41		13,636		19,045,677
5.75%, 05/01/43^(a)		12,848		18,473,211
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		11,849		16,671,938
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42^(a)		15,178		18,696,567
5.00%, 09/30/43		36,548		50,396,180
Newmont Corp.
2.25%, 10/01/30 (Call 07/01/30)		17,937		18,497,111
3.70%, 03/15/23 (Call 12/15/22)		69		72,878
4.88%, 03/15/42 (Call 09/15/41)^(a)		14,242		18,782,100
6.25%, 10/01/39		14,090		20,542,641
Rio Tinto Alcan Inc., 6.13%, 12/15/33^(a)		9,562		13,740,756
Rio Tinto Finance USA Ltd.
3.75%, 06/15/25 (Call 03/15/25)^(a)		14,852		16,688,364
5.20%, 11/02/40		20,093		28,089,154
7.13%, 07/15/28		11,276		15,787,785
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)		11,119		13,876,361


				284,554,063

Oil & Gas — 4.8%
BP Capital Markets America Inc.
1.75%, 08/10/30 (Call 05/10/30)^(a)		11,281		10,999,194
2.77%, 11/10/50 (Call 05/10/50)^(a)		21,554		19,350,647
3.00%, 02/24/50 (Call 08/24/49)		30,363		28,406,272
3.02%, 01/16/27 (Call 10/16/26)		18,210		19,646,163
3.12%, 05/04/26 (Call 02/04/26)		26,300		28,773,578
3.19%, 04/06/25 (Call 03/06/25)^(a)		8,856		9,667,607
3.22%, 11/28/23 (Call 09/28/23)		5,367		5,749,514
3.22%, 04/14/24 (Call 02/14/24)		4,738		5,091,181
3.41%, 02/11/26 (Call 12/11/25)^(a)		17,115		18,970,025
3.63%, 04/06/30 (Call 01/06/30)		19,119		21,560,462
3.79%, 02/06/24 (Call 01/06/24)		15,671		17,071,550
3.80%, 09/21/25 (Call 07/21/25)		20,272		22,793,752
3.94%, 09/21/28 (Call 06/21/28)		13,744		15,740,174
4.23%, 11/06/28 (Call 08/06/28)		33,659		39,132,546
BP Capital Markets PLC
3.28%, 09/19/27 (Call 06/19/27)^(a)		22,414		24,546,298
3.51%, 03/17/25^(a)		14,855		16,438,744
3.54%, 11/04/24^(a)		17,965		19,754,927
3.72%, 11/28/28 (Call 08/28/28)		11,973		13,530,393
3.81%, 02/10/24		10,409		11,380,611
Canadian Natural Resources Ltd.
3.85%, 06/01/27 (Call 03/01/27)		18,725		19,768,758
4.95%, 06/01/47 (Call 12/01/46)		10,474		11,110,588
6.25%, 03/15/38		17,950		20,813,989
Chevron Corp.
1.55%, 05/11/25 (Call 04/11/25)		34,302		35,399,616
2.00%, 05/11/27 (Call 03/11/27)		15,065		15,786,751
2.24%, 05/11/30 (Call 02/11/30)^(a)		24,440		25,599,727
2.90%, 03/03/24 (Call 01/03/24)		5,906		6,314,523
2.95%, 05/16/26 (Call 02/16/26)		23,578		26,021,494
3.08%, 05/11/50 (Call 11/11/49)^(a)		15,721		16,266,148
3.33%, 11/17/25 (Call 08/17/25)^(a)		12,032		13,423,869


Security	Par (000)		Value

Oil & Gas (continued)
Chevron USA Inc.
0.69%, 08/12/25 (Call 07/12/25)^(a)	$	9,640	$	9,584,407
1.02%, 08/12/27 (Call 06/12/27)		11,881		11,723,422
2.34%, 08/12/50 (Call 02/12/50)		10,360		9,372,067
Cimarex Energy Co.
3.90%, 05/15/27 (Call 02/15/27)		9,822		10,322,136
4.38%, 06/01/24 (Call 03/01/24)		12,537		13,401,050
Concho Resources Inc.
3.75%, 10/01/27 (Call 07/01/27)		15,990		17,716,547
4.30%, 08/15/28 (Call 05/15/28)		15,187		17,420,848
4.88%, 10/01/47 (Call 04/01/47)		12,145		14,785,396
ConocoPhillips, 6.50%, 02/01/39		40,306		57,485,864
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		11,515		13,372,776
4.95%, 03/15/26 (Call 12/15/25)		16,705		19,855,615
6.95%, 04/15/29		24,183		33,064,751
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)		10,848		10,037,270
5.00%, 06/15/45 (Call 12/15/44)		10,727		10,324,194
5.60%, 07/15/41 (Call 01/15/41)		19,046		19,598,700
Diamondback Energy Inc.
2.88%, 12/01/24 (Call 11/01/24)^(a)		14,590		14,773,834
3.25%, 12/01/26 (Call 10/01/26)		12,884		13,159,040
3.50%, 12/01/29 (Call 09/01/29)		17,691		17,602,545
5.38%, 05/31/25 (Call 11/30/20)		4,478		4,633,387
EOG Resources Inc.
4.15%, 01/15/26 (Call 10/15/25)		6,810		7,811,344
4.38%, 04/15/30 (Call 01/15/30)^(a)		7,231		8,513,997
4.95%, 04/15/50 (Call 10/15/49)^(a)		12,714		15,832,776
Equinor ASA
1.75%, 01/22/26 (Call 12/22/25)^(a)		2,048		2,117,204
2.38%, 05/22/30 (Call 02/22/30)^(a)		4,815		5,013,061
2.65%, 01/15/24		16,943		17,962,211
2.88%, 04/06/25 (Call 03/06/25)		3,735		4,033,832
3.13%, 04/06/30 (Call 01/06/30)		2,910		3,208,667
3.25%, 11/18/49 (Call 05/18/49)		19,209		19,708,140
3.63%, 09/10/28 (Call 06/10/28)^(a)		11,930		13,794,207
3.70%, 03/01/24^(a)		18,673		20,488,357
3.70%, 04/06/50 (Call 10/06/49)		7,497		8,340,419
3.95%, 05/15/43		13,783		15,589,841
4.80%, 11/08/43		13,332		16,949,200
5.10%, 08/17/40		10,875		14,262,046
Exxon Mobil Corp.
2.02%, 08/16/24 (Call 07/16/24)		19,350		20,235,059
2.28%, 08/16/26 (Call 06/16/26)		24,436		26,120,740
2.44%, 08/16/29 (Call 05/16/29)		22,569		23,806,224
2.61%, 10/15/30 (Call 07/15/30)^(a)		28,281		29,888,871
2.71%, 03/06/25 (Call 12/06/24)		29,237		31,391,390
2.99%, 03/19/25 (Call 02/19/25)		28,905		31,459,384
3.00%, 08/16/39 (Call 02/16/39)		9,205		9,400,071
3.04%, 03/01/26 (Call 12/01/25)		39,423		43,442,553
3.10%, 08/16/49 (Call 02/16/49)		21,464		21,148,745
3.18%, 03/15/24 (Call 12/15/23)		2,973		3,197,826
3.29%, 03/19/27 (Call 01/19/27)		12,953		14,410,821
3.45%, 04/15/51 (Call 10/15/50)^(a)		36,709		38,423,615
3.48%, 03/19/30 (Call 12/19/29)^(a)		36,293		41,017,949
3.57%, 03/06/45 (Call 09/06/44)		15,584		16,531,049
4.11%, 03/01/46 (Call 09/01/45)		38,700		44,256,345
4.23%, 03/19/40 (Call 09/19/39)		28,109		33,267,735
4.33%, 03/19/50 (Call 09/19/49)		44,911		53,662,721


Security	Par (000)		Value

Oil & Gas (continued)
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)	$	16,140	$	16,650,971
5.60%, 02/15/41^(a)		17,807		19,066,511
6.00%, 01/15/40		12,329		13,604,689
Husky Energy Inc.
4.00%, 04/15/24 (Call 01/15/24)		6,180		6,369,428
4.40%, 04/15/29 (Call 01/15/29)		11,732		11,921,718
Marathon Oil Corp.
3.85%, 06/01/25 (Call 03/01/25)		13,988		14,380,829
4.40%, 07/15/27 (Call 04/15/27)		17,184		17,268,717
6.60%, 10/01/37		10,630		10,889,564
Marathon Petroleum Corp.
3.63%, 09/15/24 (Call 06/15/24)		6,712		7,108,040
4.70%, 05/01/25 (Call 04/01/25)		15,158		16,799,786
4.75%, 09/15/44 (Call 03/15/44)		14,257		14,013,727
6.50%, 03/01/41 (Call 09/01/40)		15,840		18,394,273
Noble Energy Inc.
5.05%, 11/15/44 (Call 05/15/44)		12,947		16,750,022
5.25%, 11/15/43 (Call 05/15/43)		13,442		17,900,012
6.00%, 03/01/41 (Call 09/01/40)		13,875		19,446,541
Phillips 66
2.15%, 12/15/30 (Call 09/15/30)^(a)		12,352		11,557,498
3.90%, 03/15/28 (Call 12/15/27)		13,572		14,863,741
4.65%, 11/15/34 (Call 05/15/34)^(a)		15,254		17,090,740
4.88%, 11/15/44 (Call 05/15/44)		25,491		27,547,435
5.88%, 05/01/42		21,327		26,428,570
Shell International Finance BV
2.00%, 11/07/24 (Call 10/07/24)^(a)		16,270		17,043,900
2.38%, 04/06/25 (Call 03/06/25)^(a)		23,325		24,834,288
2.38%, 11/07/29 (Call 08/07/29)^(a)		21,259		22,310,128
2.50%, 09/12/26^(a)		18,220		19,706,892
2.75%, 04/06/30 (Call 01/06/30)^(a)		13,828		14,908,376
2.88%, 05/10/26		28,918		31,774,089
3.13%, 11/07/49 (Call 05/07/49)^(a)		18,882		18,938,452
3.25%, 05/11/25		44,144		48,744,873
3.25%, 04/06/50 (Call 10/06/49)^(a)		27,312		28,142,430
3.50%, 11/13/23 (Call 10/13/23)		2,458		2,670,464
3.75%, 09/12/46		19,290		21,150,769
3.88%, 11/13/28 (Call 08/13/28)^(a)		23,114		26,731,216
4.00%, 05/10/46^(a)		33,457		38,095,458
4.13%, 05/11/35		24,886		29,672,300
4.38%, 05/11/45		43,129		51,336,397
4.55%, 08/12/43		18,771		22,826,580
5.50%, 03/25/40^(a)		8,421		11,516,064
6.38%, 12/15/38^(a)		43,192		63,724,963
Suncor Energy Inc.
3.60%, 12/01/24 (Call 09/01/24)		12,002		13,013,893
4.00%, 11/15/47 (Call 05/15/47)		8,702		8,594,695
6.50%, 06/15/38		17,225		21,522,179
6.80%, 05/15/38		15,159		19,146,866
6.85%, 06/01/39		11,272		14,379,964
Total Capital International SA
2.43%, 01/10/25 (Call 10/10/24)		18,863		20,005,585
2.83%, 01/10/30 (Call 10/10/29)^(a)		20,377		22,227,258
2.99%, 06/29/41 (Call 12/29/40)^(a)		12,402		12,627,492
3.13%, 05/29/50 (Call 11/29/49)		37,808		37,719,310
3.39%, 06/29/60 (Call 12/29/59)^(a)		4,618		4,693,048
3.45%, 02/19/29 (Call 11/19/28)		19,100		21,648,381
3.46%, 07/12/49 (Call 01/12/49)		15,308		16,260,678
3.70%, 01/15/24		3,315		3,622,748


Security	Par (000)		Value

Oil & Gas (continued)
3.75%, 04/10/24^(a)	$	17,477	$	19,307,840
Total Capital SA, 3.88%, 10/11/28		15,762		18,393,214
Valero Energy Corp.
2.85%, 04/15/25 (Call 03/15/25)^(a)		6,984		7,168,528
3.40%, 09/15/26 (Call 06/15/26)		19,401		20,379,359
4.00%, 04/01/29 (Call 01/01/29)^(a)		16,273		16,919,456
4.35%, 06/01/28 (Call 03/01/28)		9,013		9,659,150
6.63%, 06/15/37		22,603		26,406,811
7.50%, 04/15/32		12,355		15,995,218


				2,674,501,474

Oil & Gas Services — 0.4%
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc.
3.34%, 12/15/27 (Call 09/15/27)^(a)		21,902		23,456,440
4.08%, 12/15/47 (Call 06/15/47)		21,020		20,886,439
Baker Hughes Holdings LLC, 5.13%, 09/15/40		14,795		17,292,926
Halliburton Co.
2.92%, 03/01/30 (Call 12/01/29)^(a)		10,973		10,638,426
3.80%, 11/15/25 (Call 08/15/25)		16,422		17,772,823
4.75%, 08/01/43 (Call 02/01/43)		14,319		13,714,674
4.85%, 11/15/35 (Call 05/15/35)		15,946		16,672,366
5.00%, 11/15/45 (Call 05/15/45)^(a)		27,065		26,745,552
6.70%, 09/15/38		11,482		13,431,092
7.45%, 09/15/39		15,730		19,580,723
Schlumberger Investment SA
2.65%, 06/26/30 (Call 03/26/30)^(a)		17,185		17,261,157
3.65%, 12/01/23 (Call 09/01/23)^(a)		16,084		17,298,808


				214,751,426

Packaging & Containers — 0.0%
WRKCo Inc.
4.65%, 03/15/26 (Call 01/15/26)^(a)		12,781		14,997,408
4.90%, 03/15/29 (Call 12/15/28)		13,657		16,444,782


				31,442,190

Pharmaceuticals — 8.6%
AbbVie Inc.
2.60%, 11/21/24 (Call 10/21/24)^(b)		53,107		56,476,390
2.95%, 11/21/26 (Call 09/21/26)^(b)		59,438		64,934,951
3.20%, 05/14/26 (Call 02/14/26)		30,574		33,631,412
3.20%, 11/21/29 (Call 08/21/29)^(a)(b)		80,113		88,046,254
3.60%, 05/14/25 (Call 02/14/25)^(a)		49,856		55,178,417
3.75%, 11/14/23 (Call 10/14/23)^(a)		4,190		4,562,952
3.80%, 03/15/25 (Call 12/15/24)^(b)		46,131		51,159,265
3.85%, 06/15/24 (Call 03/15/24)^(b)		2,937		3,215,594
4.05%, 11/21/39 (Call 05/21/39)^(b)		54,486		62,219,977
4.25%, 11/14/28 (Call 08/14/28)^(a)		24,640		29,025,353
4.25%, 11/21/49 (Call 05/21/49)^(a)(b)		80,685		94,173,741
4.30%, 05/14/36 (Call 11/14/35)^(a)		13,919		16,459,141
4.40%, 11/06/42		39,365		46,414,898
4.45%, 05/14/46 (Call 11/14/45)^(a)		35,252		41,803,514
4.50%, 05/14/35 (Call 11/14/34)		37,679		45,735,528
4.55%, 03/15/35 (Call 09/15/34)^(b)		24,603		29,948,398
4.70%, 05/14/45 (Call 11/14/44)		40,224		48,775,268
4.75%, 03/15/45 (Call 09/15/44)^(b)		11,691		14,224,154
4.85%, 06/15/44 (Call 12/15/43)^(b)		15,389		18,937,002
4.88%, 11/14/48 (Call 05/14/48)^(a)		25,948		32,698,162
AmerisourceBergen Corp., 3.45%, 12/15/27 (Call 09/15/27)^(a)		12,975		14,681,277
AstraZeneca PLC
0.70%, 04/08/26 (Call 03/08/26)^(a)		20,044		19,779,076


Security	Par (000)		Value

Pharmaceuticals (continued)
1.38%, 08/06/30 (Call 05/06/30)^(a)	$	16,297	$	15,814,896
3.13%, 06/12/27 (Call 03/12/27)^(a)		12,660		14,022,495
3.38%, 11/16/25		31,963		35,870,598
4.00%, 01/17/29 (Call 10/17/28)		15,549		18,318,204
4.00%, 09/18/42^(a)		15,721		19,043,022
4.38%, 11/16/45^(a)		15,860		20,405,968
4.38%, 08/17/48 (Call 02/17/48)		10,045		13,128,700
6.45%, 09/15/37^(a)		39,305		59,050,162
Becton Dickinson and Co.
2.82%, 05/20/30 (Call 02/20/30)		13,584		14,496,194
3.36%, 06/06/24 (Call 04/06/24)		21,551		23,235,833
3.70%, 06/06/27 (Call 03/06/27)		24,491		27,684,565
3.73%, 12/15/24 (Call 09/15/24)^(a)		23,952		26,396,673
3.79%, 05/20/50 (Call 11/20/49)^(a)		11,101		12,312,689
4.67%, 06/06/47 (Call 12/06/46)		24,558		30,150,986
4.69%, 12/15/44 (Call 06/15/44)		13,334		16,219,672
Bristol-Myers Squibb Co.
2.90%, 07/26/24 (Call 06/26/24)		40,827		44,143,692
3.20%, 06/15/26 (Call 04/15/26)		41,585		46,553,526
3.25%, 02/27/27^(a)		3,067		3,453,487
3.40%, 07/26/29 (Call 04/26/29)		53,396		61,605,032
3.45%, 11/15/27 (Call 08/15/27)		12,463		14,204,754
3.63%, 05/15/24 (Call 02/15/24)^(a)		7,519		8,237,622
3.88%, 08/15/25 (Call 05/15/25)		37,562		42,723,766
3.90%, 02/20/28 (Call 11/20/27)		22,432		25,981,285
4.13%, 06/15/39 (Call 12/15/38)		28,990		35,918,830
4.25%, 10/26/49 (Call 04/26/49)		53,807		68,761,994
4.35%, 11/15/47 (Call 05/15/47)		20,095		25,688,564
4.55%, 02/20/48 (Call 08/20/47)^(a)		21,941		28,879,464
4.63%, 05/15/44 (Call 11/15/43)		14,386		18,665,101
5.00%, 08/15/45 (Call 02/15/45)^(b)		1		687
5.00%, 08/15/45 (Call 02/15/45)		27,707		38,124,034
Cardinal Health Inc.
3.08%, 06/15/24 (Call 04/15/24)^(a)		15,494		16,653,520
3.41%, 06/15/27 (Call 03/15/27)^(a)		20,411		22,561,552
Cigna Corp.
2.40%, 03/15/30 (Call 12/15/29)^(a)		25,046		26,014,647
3.20%, 03/15/40 (Call 09/15/39)		3,928		4,103,344
3.25%, 04/15/25 (Call 01/15/25)		19,279		21,097,351
3.40%, 03/01/27 (Call 12/01/26)		21,562		24,050,859
3.40%, 03/15/50 (Call 09/15/49)		23,342		24,498,736
3.75%, 07/15/23 (Call 06/15/23)		12,968		14,029,802
3.88%, 10/15/47 (Call 04/15/47)		12,465		13,821,994
4.13%, 11/15/25 (Call 09/15/25)		32,945		37,641,534
4.38%, 10/15/28 (Call 07/15/28)^(a)		57,275		67,655,418
4.50%, 02/25/26 (Call 11/27/25)		25,172		29,264,864
4.80%, 08/15/38 (Call 02/15/38)^(a)		34,058		42,348,650
4.80%, 07/15/46 (Call 01/16/46)		18,100		22,647,500
4.90%, 12/15/48 (Call 06/15/48)		46,239		59,686,633
CVS Health Corp.
1.30%, 08/21/27 (Call 06/21/27)		17,416		17,145,134
1.75%, 08/21/30 (Call 05/21/30)		20,518		19,939,967
2.63%, 08/15/24 (Call 07/15/24)^(a)		18,344		19,563,949
2.70%, 08/21/40 (Call 02/21/40)^(a)		19,052		18,111,694
2.88%, 06/01/26 (Call 03/01/26)^(a)		23,424		25,395,978
3.00%, 08/15/26 (Call 06/15/26)^(a)		14,272		15,527,979
3.25%, 08/15/29 (Call 05/15/29)		27,853		30,479,922
3.63%, 04/01/27 (Call 02/01/27)		12,141		13,588,187
3.75%, 04/01/30 (Call 01/01/30)		23,613		26,807,877
3.88%, 07/20/25 (Call 04/20/25)^(a)		43,240		48,499,186


Security	Par (000)		Value

Pharmaceuticals (continued)
4.10%, 03/25/25 (Call 01/25/25)^(a)	$	20,159	$	22,705,509
4.13%, 04/01/40 (Call 10/01/39)		17,923		20,299,307
4.25%, 04/01/50 (Call 10/01/49)		11,479		13,443,554
4.30%, 03/25/28 (Call 12/25/27)		125,452		145,128,757
4.78%, 03/25/38 (Call 09/25/37)		70,708		85,318,352
5.05%, 03/25/48 (Call 09/25/47)^(a)		115,461		146,436,519
5.13%, 07/20/45 (Call 01/20/45)^(a)		51,870		65,462,534
5.30%, 12/05/43 (Call 06/05/43)		11,431		14,568,427
Eli Lilly & Co.
2.25%, 05/15/50 (Call 11/15/49)		10,858		10,087,533
2.50%, 09/15/60 (Call 03/15/60)		14,770		13,821,420
3.38%, 03/15/29 (Call 12/15/28)^(a)		20,288		23,324,142
3.95%, 03/15/49 (Call 09/15/48)		23,588		29,095,135
4.15%, 03/15/59 (Call 09/15/58)		15,093		19,337,704
GlaxoSmithKline Capital Inc.
3.63%, 05/15/25^(a)		21,548		24,305,523
3.88%, 05/15/28		20,267		23,825,054
6.38%, 05/15/38^(a)		42,246		64,249,453
GlaxoSmithKline Capital PLC
3.00%, 06/01/24 (Call 05/01/24)^(a)		12,188		13,151,262
3.38%, 06/01/29 (Call 03/01/29)^(a)		15,625		17,824,373
Johnson & Johnson
0.55%, 09/01/25 (Call 08/01/25)		3,819		3,819,202
0.95%, 09/01/27 (Call 07/01/27)^(a)		8,692		8,662,761
1.30%, 09/01/30 (Call 06/01/30)^(a)		14,790		14,712,663
2.10%, 09/01/40 (Call 03/01/40)		17,071		16,710,549
2.25%, 09/01/50 (Call 03/01/50)		16,684		16,117,058
2.45%, 03/01/26 (Call 12/01/25)		30,300		32,840,561
2.45%, 09/01/60 (Call 03/01/60)		18,949		18,360,569
2.63%, 01/15/25 (Call 11/15/24)		7,192		7,781,259
2.90%, 01/15/28 (Call 10/15/27)^(a)		23,223		26,056,821
2.95%, 03/03/27 (Call 12/03/26)^(a)		11,544		12,838,916
3.38%, 12/05/23^(a)		3,003		3,282,252
3.40%, 01/15/38 (Call 07/15/37)		12,913		15,115,816
3.50%, 01/15/48 (Call 07/15/47)^(a)		12,163		14,684,827
3.55%, 03/01/36 (Call 09/01/35)^(a)		15,310		18,267,915
3.63%, 03/03/37 (Call 09/03/36)^(a)		24,381		29,264,882
3.70%, 03/01/46 (Call 09/01/45)^(a)		31,928		39,483,512
3.75%, 03/03/47 (Call 09/03/46)		13,501		16,855,395
4.38%, 12/05/33 (Call 06/05/33)		17,357		22,666,978
5.95%, 08/15/37^(a)		13,414		20,324,783
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)		10,656		12,260,319
Merck & Co. Inc.
0.75%, 02/24/26 (Call 01/24/26)^(a)		8,531		8,506,827
1.45%, 06/24/30 (Call 03/24/30)		20,892		20,929,067
2.35%, 06/24/40 (Call 12/24/39)		17,073		17,126,380
2.45%, 06/24/50 (Call 12/24/49)^(a)		19,396		19,222,165
2.75%, 02/10/25 (Call 11/10/24)		36,797		39,897,202
2.90%, 03/07/24 (Call 02/07/24)		4,522		4,886,467
3.40%, 03/07/29 (Call 12/07/28)^(a)		28,660		33,139,693
3.70%, 02/10/45 (Call 08/10/44)		30,336		35,956,323
3.90%, 03/07/39 (Call 09/07/38)		9,225		11,278,609
4.00%, 03/07/49 (Call 09/07/48)		22,418		28,263,426
4.15%, 05/18/43		20,135		25,217,851
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)		11,451		13,295,424
5.20%, 04/15/48 (Call 10/15/47)^(a)		11,349		14,048,152


Security	Par (000)		Value

Pharmaceuticals (continued)
Mylan NV
3.95%, 06/15/26 (Call 03/15/26)^(a)	$	34,250	$	38,577,436
5.25%, 06/15/46 (Call 12/15/45)^(a)		15,065		18,624,427
Novartis Capital Corp.
1.75%, 02/14/25 (Call 01/14/25)		22,722		23,756,705
2.00%, 02/14/27 (Call 12/14/26)^(a)		25,649		27,015,733
2.20%, 08/14/30 (Call 05/14/30)^(a)		27,461		29,164,628
2.75%, 08/14/50 (Call 02/14/50)^(a)		19,965		21,021,210
3.00%, 11/20/25 (Call 08/20/25)		26,432		29,220,010
3.10%, 05/17/27 (Call 02/17/27)		15,240		17,008,145
3.40%, 05/06/24		27,836		30,538,628
4.00%, 11/20/45 (Call 05/20/45)		11,924		15,125,782
4.40%, 05/06/44		28,576		38,133,055
Perrigo Finance Unlimited Co., 3.15%, 06/15/30 (Call 03/15/30)^(a)		11,074		11,408,484
Pfizer Inc.
0.80%, 05/28/25 (Call 04/28/25)		12,117		12,146,858
1.70%, 05/28/30 (Call 02/28/30)		12,009		12,295,613
2.55%, 05/28/40 (Call 11/28/39)		10,702		11,006,808
2.63%, 04/01/30 (Call 01/01/30)		19,195		21,110,991
2.70%, 05/28/50 (Call 11/28/49)^(a)		14,265		14,563,378
2.75%, 06/03/26		22,286		24,584,315
2.95%, 03/15/24 (Call 02/15/24)		5,032		5,412,683
3.00%, 12/15/26^(a)		23,262		26,181,151
3.40%, 05/15/24^(a)		5,922		6,495,494
3.45%, 03/15/29 (Call 12/15/28)^(a)		23,210		27,009,273
3.60%, 09/15/28 (Call 06/15/28)		16,457		19,229,001
3.90%, 03/15/39 (Call 09/15/38)		11,221		13,515,321
4.00%, 12/15/36		14,458		17,827,013
4.00%, 03/15/49 (Call 09/15/48)		19,382		24,322,270
4.13%, 12/15/46^(a)		18,675		23,616,310
4.20%, 09/15/48 (Call 03/15/48)		15,107		19,379,587
4.30%, 06/15/43		12,386		15,745,447
4.40%, 05/15/44^(a)		13,973		18,171,216
7.20%, 03/15/39		38,468		63,685,209
Sanofi, 3.63%, 06/19/28 (Call 03/19/28)		6,537		7,576,276
Shire Acquisitions Investments Ireland DAC, 3.20%, 09/23/26 (Call 06/23/26)		45,281		50,315,717
Takeda Pharmaceutical Co. Ltd.
2.05%, 03/31/30 (Call 12/31/29)^(a)		40,101		40,285,641
3.03%, 07/09/40 (Call 01/09/40)^(a)		28,150		28,800,364
3.18%, 07/09/50 (Call 01/09/50)^(a)		29,943		30,300,768
3.38%, 07/09/60 (Call 01/09/60)^(a)		10,021		10,406,126
4.40%, 11/26/23 (Call 10/26/23)		10,571		11,728,301
5.00%, 11/26/28 (Call 08/26/28)		29,958		36,797,507
Upjohn Inc.
1.65%, 06/22/25 (Call 05/22/25)^(b)		12,828		13,094,413
2.30%, 06/22/27 (Call 04/22/27)^(b)		12,518		12,955,469
2.70%, 06/22/30 (Call 03/22/30)^(a)(b)		16,480		17,023,097
3.85%, 06/22/40 (Call 12/22/39)^(b)		18,072		19,376,797
4.00%, 06/22/50 (Call 12/22/49)^(a)(b)		30,711		32,479,650
Wyeth LLC
5.95%, 04/01/37^(a)		30,475		44,587,668
6.50%, 02/01/34		11,205		17,289,489
Zoetis Inc.
2.00%, 05/15/30 (Call 02/15/30)		11,378		11,688,812
3.00%, 09/12/27 (Call 06/12/27)^(a)		10,424		11,484,244
4.50%, 11/13/25 (Call 08/13/25)^(a)		8,745		10,218,426
4.70%, 02/01/43 (Call 08/01/42)^(a)		18,926		24,850,582


				4,823,720,206


Security	Par (000)		Value

Pipelines — 3.3%
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/29 (Call 05/18/29)	$	18,075	$	18,707,907
5.13%, 06/30/27 (Call 01/01/27)		25,772		28,902,009
5.88%, 03/31/25 (Call 10/02/24)		23,975		27,131,309
7.00%, 06/30/24 (Call 01/01/24)		18,469		21,137,401
Enable Midstream Partners LP, 4.95%, 05/15/28 (Call 02/15/28)		6,634		6,320,743
Enbridge Inc.
3.13%, 11/15/29 (Call 08/15/29)		15,892		16,730,147
4.25%, 12/01/26 (Call 09/01/26)		13,902		15,837,877
5.50%, 12/01/46 (Call 06/01/46)		12,433		15,570,545
Energy Transfer Operating LP
2.90%, 05/15/25 (Call 04/15/25)		17,303		17,411,699
3.75%, 05/15/30 (Call 02/15/30)		22,953		22,519,418
4.05%, 03/15/25 (Call 12/15/24)		17,735		18,636,115
4.50%, 04/15/24 (Call 03/15/24)		13,685		14,527,408
4.75%, 01/15/26 (Call 10/15/25)		16,782		18,008,538
4.95%, 06/15/28 (Call 03/15/28)		17,664		18,807,885
5.00%, 05/15/50 (Call 11/15/49)		29,276		27,270,887
5.15%, 03/15/45 (Call 09/15/44)		10,936		10,169,373
5.25%, 04/15/29 (Call 01/15/29)		23,656		25,605,846
5.30%, 04/15/47 (Call 10/15/46)		13,670		12,959,934
5.50%, 06/01/27 (Call 03/01/27)		15,152		16,709,868
5.88%, 01/15/24 (Call 10/15/23)		6,585		7,159,254
6.00%, 06/15/48 (Call 12/15/47)		12,988		13,301,880
6.13%, 12/15/45 (Call 06/15/45)		11,826		12,033,141
6.25%, 04/15/49 (Call 10/15/48)		31,539		33,247,174
6.50%, 02/01/42 (Call 08/01/41)		16,743		17,899,898
Enterprise Products Operating LLC
2.80%, 01/31/30 (Call 10/31/29)		23,616		24,738,905
3.13%, 07/31/29 (Call 04/30/29)		21,610		23,318,087
3.20%, 02/15/52 (Call 08/15/51)		13,182		12,179,889
3.70%, 02/15/26 (Call 11/15/25)		15,105		16,888,151
3.70%, 01/31/51 (Call 07/31/50)		15,199		15,039,912
3.75%, 02/15/25 (Call 11/15/24)^(a)		17,016		18,869,354
3.90%, 02/15/24 (Call 11/15/23)		2,606		2,843,210
3.95%, 01/31/60 (Call 07/31/59)		13,686		13,392,612
4.15%, 10/16/28 (Call 07/16/28)		18,929		21,799,467
4.20%, 01/31/50 (Call 07/31/49)^(a)		19,571		20,909,447
4.25%, 02/15/48 (Call 08/15/47)		19,156		20,548,145
4.45%, 02/15/43 (Call 08/15/42)		14,461		15,570,718
4.80%, 02/01/49 (Call 08/01/48)		17,122		19,840,412
4.85%, 08/15/42 (Call 02/15/42)		10,667		12,197,744
4.85%, 03/15/44 (Call 09/15/43)		21,283		24,070,566
4.90%, 05/15/46 (Call 11/15/45)		14,702		16,730,501
5.10%, 02/15/45 (Call 08/15/44)		17,441		20,439,064
5.95%, 02/01/41		10,089		12,790,973
Kinder Morgan Energy Partners LP
5.50%, 03/01/44 (Call 09/01/43)		11,949		13,713,450
6.95%, 01/15/38		18,429		23,653,881
Kinder Morgan Inc.
2.00%, 02/15/31 (Call 11/15/30)		11,312		10,762,762
4.30%, 06/01/25 (Call 03/01/25)		24,893		27,940,732
4.30%, 03/01/28 (Call 12/01/27)^(a)		22,264		25,132,779
5.05%, 02/15/46 (Call 08/15/45)		14,796		16,507,930
5.20%, 03/01/48 (Call 09/01/47)^(a)		9,505		10,918,095
5.30%, 12/01/34 (Call 06/01/34)		11,953		13,841,292
5.55%, 06/01/45 (Call 12/01/44)		23,073		26,957,773
7.75%, 01/15/32		16,101		22,026,844


Security	Par (000)		Value

Pipelines (continued)
MPLX LP
1.75%, 03/01/26 (Call 02/01/26)	$	17,311	$	17,196,510
2.65%, 08/15/30 (Call 05/15/30)		22,825		21,979,829
4.00%, 03/15/28 (Call 12/15/27)		18,897		20,437,406
4.13%, 03/01/27 (Call 12/01/26)		19,632		21,446,755
4.50%, 04/15/38 (Call 10/15/37)		24,784		25,022,065
4.70%, 04/15/48 (Call 10/15/47)		23,130		22,895,587
4.80%, 02/15/29 (Call 11/15/28)^(a)		11,914		13,459,920
4.88%, 12/01/24 (Call 09/01/24)		17,352		19,430,980
4.88%, 06/01/25 (Call 03/01/25)		17,774		20,060,750
5.20%, 03/01/47 (Call 09/01/46)		16,459		17,267,907
5.50%, 02/15/49 (Call 08/15/48)		20,567		22,751,742
ONEOK Inc.
3.10%, 03/15/30 (Call 12/15/29)^(a)		14,072		13,470,514
3.40%, 09/01/29 (Call 06/01/29)		13,277		12,935,605
4.45%, 09/01/49 (Call 03/01/49)		9,950		8,778,873
4.55%, 07/15/28 (Call 04/15/28)		16,221		17,202,826
5.20%, 07/15/48 (Call 01/15/48)		13,490		13,110,912
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/29 (Call 09/15/29)		16,316		15,668,526
3.60%, 11/01/24 (Call 08/01/24)		10,253		10,542,667
3.80%, 09/15/30 (Call 06/15/30)^(a)		11,172		10,803,699
4.50%, 12/15/26 (Call 09/15/26)		11,346		12,047,523
4.65%, 10/15/25 (Call 07/15/25)		16,827		17,938,423
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)		26,230		28,418,282
4.50%, 05/15/30 (Call 11/15/29)^(b)		28,285		31,615,482
5.00%, 03/15/27 (Call 09/15/26)^(a)		22,912		25,748,739
5.63%, 03/01/25 (Call 12/01/24)		29,809		34,003,547
5.75%, 05/15/24 (Call 02/15/24)		20,097		22,625,203
5.88%, 06/30/26 (Call 12/31/25)		23,384		27,388,010
Spectra Energy Partners LP, 4.75%, 03/15/24 (Call 12/15/23)		13,217		14,675,236
Sunoco Logistics Partners Operations LP
4.00%, 10/01/27 (Call 07/01/27)		13,294		13,623,242
5.35%, 05/15/45 (Call 11/15/44)		13,074		12,442,238
5.40%, 10/01/47 (Call 04/01/47)		22,853		21,941,709
TransCanada PipeLines Ltd.
4.10%, 04/15/30 (Call 01/15/30)		14,186		16,090,593
4.25%, 05/15/28 (Call 02/15/28)		20,166		23,003,843
4.63%, 03/01/34 (Call 12/01/33)		20,417		23,536,121
4.88%, 01/15/26 (Call 10/15/25)		12,626		14,819,502
4.88%, 05/15/48 (Call 11/15/47)		14,337		17,436,166
5.10%, 03/15/49 (Call 09/15/48)^(a)		14,958		18,887,088
6.10%, 06/01/40		11,807		15,487,276
6.20%, 10/15/37		15,877		21,319,875
7.63%, 01/15/39		18,946		28,693,852
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)		16,199		20,765,493
Williams Companies Inc. (The)
3.50%, 11/15/30 (Call 08/15/30)		15,050		16,115,001
3.75%, 06/15/27 (Call 03/15/27)		21,100		22,981,147
3.90%, 01/15/25 (Call 10/15/24)		11,936		12,981,022
4.00%, 09/15/25 (Call 06/15/25)		14,043		15,505,182
4.30%, 03/04/24 (Call 12/04/23)		3,388		3,689,849
4.55%, 06/24/24 (Call 03/24/24)		13,056		14,404,386
4.85%, 03/01/48 (Call 09/01/47)		11,644		12,657,583
5.10%, 09/15/45 (Call 03/15/45)		15,714		17,515,335
6.30%, 04/15/40		18,617		22,396,512


				1,865,445,484


Security	Par (000)		Value

Real Estate Investment Trusts — 1.7%
Alexandria Real Estate Equities Inc.
1.88%, 02/01/33 (Call 11/01/32)	$	15,900	$	15,495,316
3.38%, 08/15/31 (Call 05/15/31)^(a)		12,429		13,908,897
American Tower Corp.
1.88%, 10/15/30 (Call 07/15/30)		13,937		13,762,486
2.10%, 06/15/30 (Call 03/15/30)		7,618		7,637,163
2.40%, 03/15/25 (Call 02/15/25)		11,971		12,644,315
2.75%, 01/15/27 (Call 11/15/26)		16,624		17,795,300
2.90%, 01/15/30 (Call 10/15/29)^(a)		12,240		13,074,639
3.10%, 06/15/50 (Call 12/15/49)^(a)		13,405		13,073,914
3.38%, 10/15/26 (Call 07/15/26)		17,062		18,843,387
3.55%, 07/15/27 (Call 04/15/27)^(a)		12,567		13,961,776
3.80%, 08/15/29 (Call 05/15/29)		25,702		29,173,261
4.00%, 06/01/25 (Call 03/01/25)		13,677		15,323,994
5.00%, 02/15/24		2,836		3,203,694
Boston Properties LP
2.75%, 10/01/26 (Call 07/01/26)^(a)		16,105		17,247,603
3.20%, 01/15/25 (Call 10/15/24)^(a)		16,123		17,489,953
3.25%, 01/30/31 (Call 10/30/30)		22,813		24,424,453
3.40%, 06/21/29 (Call 03/21/29)^(a)		12,143		13,165,993
3.65%, 02/01/26 (Call 11/03/25)^(a)		23,555		26,293,163
4.50%, 12/01/28 (Call 09/01/28)		8,992		10,513,276
Brixmor Operating Partnership LP
4.05%, 07/01/30 (Call 04/01/30)		3,117		3,364,418
4.13%, 05/15/29 (Call 02/15/29)		9,936		10,808,137
Crown Castle International Corp.
2.25%, 01/15/31 (Call 10/15/30)^(a)		20,691		20,803,576
3.20%, 09/01/24 (Call 07/01/24)^(a)		3,937		4,242,886
3.25%, 01/15/51 (Call 07/15/50)		10,628		10,522,214
3.30%, 07/01/30 (Call 04/01/30)		15,365		16,773,236
3.65%, 09/01/27 (Call 06/01/27)		15,307		17,017,931
3.70%, 06/15/26 (Call 03/15/26)^(a)		12,175		13,545,076
3.80%, 02/15/28 (Call 11/15/27)		15,143		16,970,624
4.45%, 02/15/26 (Call 11/15/25)		15,075		17,283,999
Digital Realty Trust LP
3.60%, 07/01/29 (Call 04/01/29)^(a)		12,739		14,426,624
3.70%, 08/15/27 (Call 05/15/27)		15,207		17,089,981
Equinix Inc.
2.15%, 07/15/30 (Call 04/15/30)^(a)		17,162		17,300,506
2.63%, 11/18/24 (Call 10/18/24)		16,006		17,003,174
3.20%, 11/18/29 (Call 08/18/29)		21,437		23,313,166
5.38%, 05/15/27 (Call 05/15/22)		7,911		8,611,807
ERP Operating LP, 4.50%, 07/01/44 (Call 01/01/44)		11,805		14,723,530
GLP Capital LP/GLP Financing II Inc.
5.25%, 06/01/25 (Call 03/01/25)		7,790		8,501,158
5.30%, 01/15/29 (Call 10/15/28)		12,862		14,363,443
5.38%, 04/15/26 (Call 01/15/26)^(a)		16,114		17,870,550
Healthcare Trust of America Holdings LP, 2.00%, 03/15/31 (Call 12/15/30)		14,794		14,297,715
Healthpeak Properties Inc.
3.00%, 01/15/30 (Call 10/15/29)^(a)		11,607		12,466,226
3.88%, 08/15/24 (Call 05/17/24)^(a)		9,565		10,521,569
4.00%, 06/01/25 (Call 03/01/25)		13,117		14,709,679
Prologis LP
1.25%, 10/15/30 (Call 07/15/30)		8,428		8,193,413
2.25%, 04/15/30 (Call 01/15/30)		14,988		15,842,662
3.75%, 11/01/25 (Call 08/01/25)^(a)		10,193		11,562,493
Realty Income Corp., 3.25%, 01/15/31 (Call 10/15/30)		13,824		15,123,439
Simon Property Group LP
2.00%, 09/13/24 (Call 06/13/24)^(a)		16,037		16,510,497


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
2.45%, 09/13/29 (Call 06/13/29)^(a)	$	21,628	$	21,410,771
2.65%, 07/15/30 (Call 04/15/30)^(a)		12,568		12,562,104
3.25%, 11/30/26 (Call 08/30/26)^(a)		11,728		12,697,861
3.25%, 09/13/49 (Call 03/13/49)^(a)		19,063		17,241,441
3.30%, 01/15/26 (Call 10/15/25)		12,827		13,891,908
3.38%, 10/01/24 (Call 07/01/24)^(a)		15,714		16,941,587
3.38%, 06/15/27 (Call 03/15/27)^(a)		11,694		12,470,186
3.38%, 12/01/27 (Call 09/01/27)^(a)		11,598		12,387,976
3.50%, 09/01/25 (Call 06/01/25)^(a)		4,031		4,407,464
3.80%, 07/15/50 (Call 01/15/50)		11,872		11,681,958
Ventas Realty LP, 4.40%, 01/15/29 (Call 10/15/28)		11,112		12,508,286
Welltower Inc.
3.10%, 01/15/30 (Call 10/15/29)		11,647		12,270,309
3.63%, 03/15/24 (Call 02/15/24)^(a)		9,910		10,728,289
4.00%, 06/01/25 (Call 03/01/25)		20,528		23,076,674
4.25%, 04/15/28 (Call 01/15/28)^(a)		9,484		10,777,857
Weyerhaeuser Co.
4.00%, 11/15/29 (Call 08/15/29)		6,521		7,564,061
4.00%, 04/15/30 (Call 01/15/30)		13,722		15,945,529
7.38%, 03/15/32		21,339		30,828,786


				960,189,359

Retail — 3.4%
AutoZone Inc., 4.00%, 04/15/30 (Call 01/15/30)		12,750		14,889,903
Costco Wholesale Corp.
1.38%, 06/20/27 (Call 04/20/27)^(a)		18,797		19,162,987
1.60%, 04/20/30 (Call 01/20/30)		27,406		27,714,071
1.75%, 04/20/32 (Call 01/20/32)^(a)		24,285		24,668,934
2.75%, 05/18/24 (Call 03/18/24)^(a)		7,446		8,014,654
3.00%, 05/18/27 (Call 02/18/27)^(a)		7,802		8,699,024
Dollar General Corp., 3.50%, 04/03/30 (Call 01/03/30)		19,288		21,900,432
Dollar Tree Inc.
4.00%, 05/15/25 (Call 03/15/25)^(a)		18,425		20,742,732
4.20%, 05/15/28 (Call 02/15/28)^(a)		19,273		22,547,749
Home Depot Inc. (The)
2.13%, 09/15/26 (Call 06/15/26)^(a)		20,156		21,611,942
2.50%, 04/15/27 (Call 02/15/27)		12,751		13,811,161
2.70%, 04/15/30 (Call 01/15/30)^(a)		19,911		21,963,818
2.80%, 09/14/27 (Call 06/14/27)^(a)		13,977		15,365,883
2.95%, 06/15/29 (Call 03/15/29)^(a)		20,331		22,821,974
3.00%, 04/01/26 (Call 01/01/26)^(a)		19,564		21,763,929
3.13%, 12/15/49 (Call 06/15/49)		18,442		20,081,568
3.30%, 04/15/40 (Call 10/15/39)		18,600		21,053,993
3.35%, 09/15/25 (Call 06/15/25)^(a)		13,837		15,526,903
3.35%, 04/15/50 (Call 10/15/49)		19,443		22,020,496
3.50%, 09/15/56 (Call 03/15/56)		15,390		17,729,688
3.75%, 02/15/24 (Call 11/15/23)^(a)		17,413		19,083,053
3.90%, 12/06/28 (Call 09/06/28)^(a)		8,620		10,242,808
3.90%, 06/15/47 (Call 12/15/46)		17,362		20,968,197
4.20%, 04/01/43 (Call 10/01/42)		15,518		19,183,026
4.25%, 04/01/46 (Call 10/01/45)		24,487		30,861,515
4.40%, 03/15/45 (Call 09/15/44)		15,352		19,630,490
4.50%, 12/06/48 (Call 06/06/48)		21,944		29,016,731
4.88%, 02/15/44 (Call 08/15/43)		16,047		21,509,670
5.88%, 12/16/36		44,863		65,985,102
5.95%, 04/01/41 (Call 10/01/40)		15,260		22,891,558
Lowe’s Companies Inc.
1.30%, 04/15/28 (Call 02/15/28)		6,042		5,984,039
1.70%, 10/15/30 (Call 07/15/30)^(a)		3,603		3,579,707
2.50%, 04/15/26 (Call 01/15/26)^(a)		21,015		22,664,060
3.00%, 10/15/50 (Call 04/15/50)		22,225		22,741,553


Security	Par (000)		Value

Retail (continued)
3.10%, 05/03/27 (Call 02/03/27)^(a)	$	19,478	$	21,707,349
3.38%, 09/15/25 (Call 06/15/25)^(a)		6,202		6,888,929
3.65%, 04/05/29 (Call 01/05/29)		17,099		19,672,220
3.70%, 04/15/46 (Call 10/15/45)^(a)		19,263		21,739,748
4.00%, 04/15/25 (Call 03/15/25)^(a)		8,411		9,521,646
4.05%, 05/03/47 (Call 11/03/46)		23,139		27,475,436
4.50%, 04/15/30 (Call 01/15/30)		21,157		25,936,957
McDonald’s Corp.
2.13%, 03/01/30 (Call 12/01/29)		8,691		8,988,722
2.63%, 09/01/29 (Call 06/01/29)		12,799		13,805,832
3.30%, 07/01/25 (Call 06/01/25)		12,126		13,418,190
3.50%, 03/01/27 (Call 12/01/26)		11,506		12,930,373
3.50%, 07/01/27 (Call 05/01/27)		13,088		14,825,494
3.60%, 07/01/30 (Call 04/01/30)^(a)		22,984		26,516,085
3.63%, 09/01/49 (Call 03/01/49)^(a)		21,694		24,159,219
3.70%, 01/30/26 (Call 10/30/25)		24,727		27,909,874
3.80%, 04/01/28 (Call 01/01/28)		13,977		16,135,203
4.20%, 04/01/50 (Call 10/01/49)		13,619		16,475,081
4.45%, 03/01/47 (Call 09/01/46)		15,785		19,438,337
4.45%, 09/01/48 (Call 03/01/48)		13,387		16,622,950
4.70%, 12/09/35 (Call 06/09/35)^(a)		7,676		9,779,305
4.88%, 12/09/45 (Call 06/09/45)		24,125		31,175,191
6.30%, 10/15/37		12,581		18,498,075
6.30%, 03/01/38		10,697		15,739,320
O’Reilly Automotive Inc., 3.60%, 09/01/27 (Call 06/01/27)		12,096		13,627,542
Starbucks Corp.
2.25%, 03/12/30 (Call 12/12/29)		13,587		13,951,800
2.55%, 11/15/30 (Call 08/15/30)		19,653		20,680,484
3.50%, 11/15/50 (Call 05/15/50)		16,859		18,004,175
3.55%, 08/15/29 (Call 05/15/29)		14,996		17,088,438
3.80%, 08/15/25 (Call 06/15/25)^(a)		18,457		20,901,057
4.00%, 11/15/28 (Call 08/15/28)		10,254		11,973,381
4.45%, 08/15/49 (Call 02/15/49)		15,263		18,619,485
4.50%, 11/15/48 (Call 05/15/48)		16,156		19,795,969
Target Corp.
2.25%, 04/15/25 (Call 03/15/25)		15,089		16,103,322
2.35%, 02/15/30 (Call 11/15/29)		15,081		16,297,575
2.50%, 04/15/26^(a)		3,869		4,231,409
3.38%, 04/15/29 (Call 01/15/29)^(a)		20,874		24,227,899
3.50%, 07/01/24		5,009		5,533,827
4.00%, 07/01/42		10,991		14,066,825
TJX Companies Inc. (The)
2.25%, 09/15/26 (Call 06/15/26)^(a)		11,466		12,208,083
3.50%, 04/15/25 (Call 03/15/25)		21,763		24,148,469
3.75%, 04/15/27 (Call 02/15/27)		8,531		9,819,708
3.88%, 04/15/30 (Call 01/15/30)^(a)		19,258		22,813,101
4.50%, 04/15/50 (Call 10/15/49)^(a)		12,396		16,403,692
Walgreens Boots Alliance Inc.
3.45%, 06/01/26 (Call 03/01/26)^(a)		24,021		26,192,301
3.80%, 11/18/24 (Call 08/18/24)		17,890		19,715,632
4.10%, 04/15/50 (Call 10/15/49)		17,731		17,812,504
4.80%, 11/18/44 (Call 05/18/44)		11,616		12,728,392
Walmart Inc.
2.65%, 12/15/24 (Call 10/15/24)^(a)		12,558		13,553,532
2.85%, 07/08/24 (Call 06/08/24)		20,684		22,364,043
2.95%, 09/24/49 (Call 03/24/49)^(a)		11,689		12,927,033
3.05%, 07/08/26 (Call 05/08/26)^(a)		16,970		18,971,011
3.25%, 07/08/29 (Call 04/08/29)^(a)		25,391		29,273,551
3.30%, 04/22/24 (Call 01/22/24)^(a)		10,543		11,471,813


Security	Par (000)		Value

Retail (continued)
3.55%, 06/26/25 (Call 04/26/25)^(a)	$	16,414	$	18,531,293
3.63%, 12/15/47 (Call 06/15/47)		15,786		19,254,527
3.70%, 06/26/28 (Call 03/26/28)		42,479		49,698,841
3.95%, 06/28/38 (Call 12/28/37)^(a)		29,004		36,147,363
4.05%, 06/29/48 (Call 12/29/47)^(a)		43,937		56,985,415
5.25%, 09/01/35		32,898		47,281,154
5.63%, 04/01/40^(a)		6,276		9,274,665
5.63%, 04/15/41		15,132		22,628,959
6.20%, 04/15/38^(a)		11,606		18,183,904
6.50%, 08/15/37		19,849		31,589,560


				1,930,874,620

Semiconductors — 2.9%
Analog Devices Inc.
3.50%, 12/05/26 (Call 09/05/26)^(a)		14,591		16,425,810
3.90%, 12/15/25 (Call 09/15/25)^(a)		14,312		16,268,200
Applied Materials Inc.
1.75%, 06/01/30 (Call 03/01/30)^(a)		7,586		7,739,075
2.75%, 06/01/50 (Call 12/01/49)		11,717		11,953,996
3.30%, 04/01/27 (Call 01/01/27)^(a)		23,273		26,265,933
4.35%, 04/01/47 (Call 10/01/46)^(a)		15,729		20,458,787
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.13%, 01/15/25 (Call 11/15/24)^(a)		11,111		11,864,220
3.50%, 01/15/28 (Call 10/15/27)		16,695		17,945,147
3.63%, 01/15/24 (Call 11/15/23)		15,283		16,409,317
3.88%, 01/15/27 (Call 10/15/26)		71,581		79,025,982
Broadcom Inc.
3.15%, 11/15/25 (Call 10/15/25)		36,758		39,516,475
3.46%, 09/15/26 (Call 07/15/26)		27,129		29,515,375
3.63%, 10/15/24 (Call 09/15/24)		18,471		20,204,690
4.11%, 09/15/28 (Call 06/15/28)		31,580		35,157,004
4.15%, 11/15/30 (Call 08/15/30)		42,777		47,912,353
4.25%, 04/15/26 (Call 02/15/26)		40,585		45,609,906
4.30%, 11/15/32 (Call 08/15/32)^(a)		31,791		36,308,663
4.70%, 04/15/25 (Call 03/15/25)		25,768		29,282,060
4.75%, 04/15/29 (Call 01/15/29)		37,765		43,745,322
5.00%, 04/15/30 (Call 01/15/30)		32,702		38,461,417
Intel Corp.
2.45%, 11/15/29 (Call 08/15/29)		32,538		35,054,938
2.60%, 05/19/26 (Call 02/19/26)^(a)		16,504		18,025,793
2.88%, 05/11/24 (Call 03/11/24)^(a)		4,881		5,246,345
3.10%, 02/15/60 (Call 08/15/59)		16,307		17,211,778
3.15%, 05/11/27 (Call 02/11/27)^(a)		13,292		14,830,105
3.25%, 11/15/49 (Call 05/15/49)		30,697		33,795,463
3.40%, 03/25/25 (Call 02/25/25)		15,459		17,162,121
3.70%, 07/29/25 (Call 04/29/25)^(a)		40,527		45,779,936
3.73%, 12/08/47 (Call 06/08/47)		27,778		32,544,235
3.75%, 03/25/27 (Call 01/25/27)		15,253		17,611,498
3.90%, 03/25/30 (Call 12/25/29)		24,695		29,547,573
4.00%, 12/15/32^(a)		11,550		14,325,408
4.10%, 05/19/46 (Call 11/19/45)		19,854		24,564,373
4.10%, 05/11/47 (Call 11/11/46)^(a)		15,820		19,552,561
4.60%, 03/25/40 (Call 09/25/39)		13,195		17,361,243
4.75%, 03/25/50 (Call 09/25/49)		29,476		40,166,913
4.80%, 10/01/41^(a)		9,891		13,147,108
4.90%, 07/29/45 (Call 01/29/45)^(a)		11,057		14,976,726
4.95%, 03/25/60 (Call 09/25/59)		17,159		24,903,914
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)		11,634		12,259,013
4.10%, 03/15/29 (Call 12/15/28)^(a)		15,750		18,648,477
4.65%, 11/01/24 (Call 08/01/24)		16,008		18,193,156


Security	Par (000)		Value

Semiconductors (continued)
Lam Research Corp.
1.90%, 06/15/30 (Call 03/15/30)	$	11,514	$	11,844,516
2.88%, 06/15/50 (Call 12/15/49)^(a)		15,055		15,422,089
3.75%, 03/15/26 (Call 01/15/26)		12,337		14,165,853
4.00%, 03/15/29 (Call 12/15/28)		10,114		12,032,435
4.88%, 03/15/49 (Call 09/15/48)		11,385		15,764,541
Micron Technology Inc.
4.19%, 02/15/27 (Call 12/15/26)^(a)		13,285		14,990,271
4.66%, 02/15/30 (Call 11/15/29)		11,575		13,539,861
NVIDIA Corp.
2.85%, 04/01/30 (Call 01/01/30)		22,654		25,156,841
3.20%, 09/16/26 (Call 06/16/26)^(a)		18,266		20,499,729
3.50%, 04/01/40 (Call 10/01/39)		20,271		23,388,201
3.50%, 04/01/50 (Call 10/01/49)		22,104		25,640,706
NXP BV/NXP Funding LLC, 4.88%, 03/01/24 (Call 02/01/24)^(a)(b)		7,810		8,742,565
NXP BV/NXP Funding LLC/NXP USA Inc.
3.40%, 05/01/30 (Call 02/01/30)^(a)(b)		10,690		11,753,743
3.88%, 06/18/26 (Call 04/18/26)^(a)(b)		16,689		18,771,402
4.30%, 06/18/29 (Call 03/18/29)^(a)(b)		16,072		18,636,773
QUALCOMM Inc.
1.30%, 05/20/28 (Call 02/20/28)^(b)		6,125		6,053,863
1.65%, 05/20/32 (Call 02/20/32)^(b)		57,432		56,103,024
2.15%, 05/20/30 (Call 02/20/30)		16,179		16,791,683
3.25%, 05/20/27 (Call 02/20/27)^(a)		26,417		29,403,397
3.25%, 05/20/50 (Call 11/20/49)		8,430		9,257,213
4.30%, 05/20/47 (Call 11/20/46)		22,068		27,975,926
4.65%, 05/20/35 (Call 11/20/34)^(a)		16,618		21,839,431
4.80%, 05/20/45 (Call 11/20/44)^(a)		20,168		26,972,403
Texas Instruments Inc.
1.38%, 03/12/25 (Call 02/12/25)		8,666		8,931,898
1.75%, 05/04/30 (Call 02/04/30)		12,444		12,687,911
2.25%, 09/04/29 (Call 06/04/29)		14,993		15,970,263
3.88%, 03/15/39 (Call 09/15/38)		11,635		14,203,048
4.15%, 05/15/48 (Call 11/15/47)		22,844		29,716,382


				1,601,234,377

Software — 3.7%
Activision Blizzard Inc.
2.50%, 09/15/50 (Call 03/15/50)		22,694		20,518,558
3.40%, 09/15/26 (Call 06/15/26)^(a)		4,788		5,410,752
Adobe Inc.
2.15%, 02/01/27 (Call 12/01/26)		14,475		15,400,096
2.30%, 02/01/30 (Call 11/01/29)		22,987		24,545,944
3.25%, 02/01/25 (Call 11/01/24)^(a)		8,195		9,047,815
Fidelity National Information Services Inc.
3.00%, 08/15/26 (Call 05/15/26)^(a)		12,851		14,203,795
3.75%, 05/21/29 (Call 02/21/29)		13,232		15,262,470
Fiserv Inc.
2.25%, 06/01/27 (Call 04/01/27)		17,401		18,286,948
2.65%, 06/01/30 (Call 03/01/30)		17,136		18,193,690
2.75%, 07/01/24 (Call 06/01/24)		26,543		28,316,691
3.20%, 07/01/26 (Call 05/01/26)		33,528		37,090,856
3.50%, 07/01/29 (Call 04/01/29)^(a)		42,785		48,154,629
3.85%, 06/01/25 (Call 03/01/25)		14,410		16,154,846
4.20%, 10/01/28 (Call 07/01/28)		14,773		17,318,744
4.40%, 07/01/49 (Call 01/01/49)^(a)		27,157		33,582,433
Microsoft Corp.
2.40%, 08/08/26 (Call 05/08/26)		62,741		68,198,011
2.53%, 06/01/50 (Call 12/01/49)		116,083		118,177,857
2.68%, 06/01/60 (Call 12/01/59)		64,458		65,588,993


Security	Par (000)		Value

Software (continued)
2.70%, 02/12/25 (Call 11/12/24)^(a)	$	41,692	$	45,018,113
2.88%, 02/06/24 (Call 12/06/23)		39,487		42,314,755
3.13%, 11/03/25 (Call 08/03/25)^(a)		49,688		55,254,090
3.30%, 02/06/27 (Call 11/06/26)		61,280		69,599,955
3.45%, 08/08/36 (Call 02/08/36)^(a)		34,884		41,823,108
3.50%, 02/12/35 (Call 08/12/34)		27,550		33,416,830
3.50%, 11/15/42		17,394		20,798,655
3.63%, 12/15/23 (Call 09/15/23)^(a)		7,198		7,865,749
3.70%, 08/08/46 (Call 02/08/46)		64,717		79,528,036
3.75%, 02/12/45 (Call 08/12/44)		300		368,597
3.95%, 08/08/56 (Call 02/08/56)		39,319		50,374,878
4.00%, 02/12/55 (Call 08/12/54)^(a)		2,089		2,710,551
4.10%, 02/06/37 (Call 08/06/36)		29,584		37,856,115
4.20%, 11/03/35 (Call 05/03/35)^(a)		18,148		23,618,263
4.25%, 02/06/47 (Call 08/06/46)		11,731		15,736,329
4.45%, 11/03/45 (Call 05/03/45)		8,783		11,998,474
4.50%, 02/06/57 (Call 08/06/56)		4,282		6,056,230
5.30%, 02/08/41		200		293,774
Oracle Corp.
2.50%, 04/01/25 (Call 03/01/25)		49,945		53,533,483
2.65%, 07/15/26 (Call 04/15/26)		50,660		55,113,282
2.80%, 04/01/27 (Call 02/01/27)^(a)		23,464		25,600,953
2.95%, 11/15/24 (Call 09/15/24)		35,500		38,417,649
2.95%, 05/15/25 (Call 02/15/25)^(a)		39,114		42,581,804
2.95%, 04/01/30 (Call 01/01/30)		55,722		61,363,886
3.25%, 11/15/27 (Call 08/15/27)^(a)		44,355		49,717,342
3.40%, 07/08/24 (Call 04/08/24)^(a)		14,850		16,212,160
3.60%, 04/01/40 (Call 10/01/39)		46,279		51,716,588
3.60%, 04/01/50 (Call 10/01/49)		68,661		75,289,032
3.80%, 11/15/37 (Call 05/15/37)^(a)		26,375		30,466,541
3.85%, 07/15/36 (Call 01/15/36)		11,756		13,695,769
3.85%, 04/01/60 (Call 10/01/59)		49,808		56,399,098
3.90%, 05/15/35 (Call 11/15/34)^(a)		20,602		24,688,763
4.00%, 07/15/46 (Call 01/15/46)		43,034		49,601,823
4.00%, 11/15/47 (Call 05/15/47)		34,637		40,136,846
4.13%, 05/15/45 (Call 11/15/44)		29,504		34,628,567
4.30%, 07/08/34 (Call 01/08/34)^(a)		27,715		34,345,121
4.38%, 05/15/55 (Call 11/15/54)^(a)		18,791		23,287,964
4.50%, 07/08/44 (Call 01/08/44)^(a)		13,395		16,481,625
5.38%, 07/15/40^(a)		34,538		47,567,820
6.13%, 07/08/39		20,316		29,919,558
6.50%, 04/15/38^(a)		16,639		25,452,181
salesforce.com Inc., 3.70%, 04/11/28 (Call 01/11/28)^(a)		22,178		25,993,541
VMware Inc.
3.90%, 08/21/27 (Call 05/21/27)		22,321		24,649,750
4.50%, 05/15/25 (Call 04/15/25)		6,515		7,353,252
4.70%, 05/15/30 (Call 02/15/30)^(a)		12,242		14,445,629


				2,086,745,657

Telecommunications — 6.4%
AT&T Inc.
1.65%, 02/01/28 (Call 12/01/27)		9,821		9,746,433
2.25%, 02/01/32 (Call 11/01/31)		38,580		37,893,488
2.30%, 06/01/27 (Call 04/01/27)^(a)		18,281		18,984,031
2.75%, 06/01/31 (Call 03/01/31)^(a)		46,164		47,831,808
3.10%, 02/01/43 (Call 08/01/42)		32,099		30,650,818
3.30%, 02/01/52 (Call 08/01/51)		32,693		30,030,136
3.40%, 05/15/25 (Call 02/15/25)		1,270		1,397,615
3.50%, 06/01/41 (Call 12/01/40)^(a)		38,509		39,159,860
3.50%, 09/15/53 (Call 03/15/53)^(b)		117,757		112,105,170
3.50%, 02/01/61 (Call 08/01/60)		24,266		22,547,295


Security	Par (000)		Value

Telecommunications (continued)
3.55%, 09/15/55 (Call 03/15/55)^(b)	$	182,783	$	172,698,880
3.65%, 06/01/51 (Call 12/01/50)^(a)		42,768		41,872,387
3.65%, 09/15/59 (Call 03/15/59)^(b)		141,385		134,087,003
3.80%, 02/15/27 (Call 11/15/26)		20,919		23,545,372
3.85%, 06/01/60 (Call 12/01/59)		22,836		22,522,717
4.10%, 02/15/28 (Call 11/15/27)^(a)		39,400		45,148,298
4.13%, 02/17/26 (Call 11/17/25)		41,114		46,940,096
4.25%, 03/01/27 (Call 12/01/26)^(a)		31,403		36,100,232
4.30%, 02/15/30 (Call 11/15/29)		48,333		56,412,741
4.30%, 12/15/42 (Call 06/15/42)		30,043		33,522,310
4.35%, 03/01/29 (Call 12/01/28)		45,892		53,409,587
4.35%, 06/15/45 (Call 12/15/44)		13,923		15,378,813
4.45%, 04/01/24 (Call 01/01/24)^(a)		4,933		5,498,438
4.50%, 05/15/35 (Call 11/15/34)		39,145		45,697,669
4.50%, 03/09/48 (Call 09/09/47)^(a)		54,979		61,500,367
4.55%, 03/09/49 (Call 09/09/48)		998		1,118,314
4.75%, 05/15/46 (Call 11/15/45)		4,061		4,668,305
4.80%, 06/15/44 (Call 12/15/43)		17,657		20,463,153
4.85%, 03/01/39 (Call 09/01/38)^(a)		20,263		24,119,855
5.15%, 02/15/50 (Call 08/14/49)^(a)		765		930,151
5.25%, 03/01/37 (Call 09/01/36)^(a)		780		973,582
5.35%, 09/01/40		999		1,246,613
5.65%, 02/15/47 (Call 08/15/46)		145		186,865
British Telecommunications PLC, 9.63%, 12/15/30		43,262		69,087,454
Cisco Systems Inc.
2.50%, 09/20/26 (Call 06/20/26)^(a)		23,117		25,254,786
2.95%, 02/28/26		17,108		19,025,372
3.63%, 03/04/24^(a)		9,409		10,379,234
5.50%, 01/15/40		24,707		35,688,305
5.90%, 02/15/39^(a)		31,694		47,278,010
Corning Inc.
4.38%, 11/15/57 (Call 05/15/57)		11,387		13,275,698
5.45%, 11/15/79 (Call 05/15/79)		17,098		21,339,780
Deutsche Telekom International Finance BV, 8.75%, 06/15/30		53,750		83,521,034
Motorola Solutions Inc.
2.30%, 11/15/30 (Call 08/15/30)		15,915		15,819,456
4.60%, 05/23/29 (Call 02/23/29)		15,455		18,143,649
Orange SA
5.38%, 01/13/42		13,580		18,729,305
5.50%, 02/06/44 (Call 08/06/43)		14,561		20,645,707
9.00%, 03/01/31		35,051		56,618,122
Rogers Communications Inc.
3.70%, 11/15/49 (Call 05/15/49)^(a)		16,606		18,361,513
4.30%, 02/15/48 (Call 08/15/47)		11,377		13,721,442
4.35%, 05/01/49 (Call 11/01/48)		18,139		21,991,992
5.00%, 03/15/44 (Call 09/15/43)		14,747		18,941,569
Telefonica Emisiones SA
4.10%, 03/08/27^(a)		27,252		30,885,335
4.67%, 03/06/38		9,401		10,778,208
4.90%, 03/06/48^(a)		19,052		21,766,577
5.21%, 03/08/47		35,789		42,029,864
5.52%, 03/01/49 (Call 09/01/48)^(a)		16,694		20,501,077
7.05%, 06/20/36^(a)		29,951		42,893,812
Telefonica Europe BV, 8.25%, 09/15/30^(a)		20,358		30,339,479
TELUS Corp., 4.60%, 11/16/48 (Call 05/16/48)		12,594		15,543,753
T-Mobile USA Inc.
1.50%, 02/15/26 (Call 01/15/26)^(a)(b)		21,373		21,497,910
2.05%, 02/15/28 (Call 12/15/27)^(b)		11,037		11,204,558
2.25%, 11/15/31 (Call 08/15/31)^(b)		3,410		3,375,555


Security	Par (000)		Value

Telecommunications (continued)
2.55%, 02/15/31 (Call 11/15/30)^(a)(b)	$	24,464	$	24,957,422
3.00%, 02/15/41 (Call 08/15/40)^(b)		19,390		18,824,816
3.30%, 02/15/51 (Call 08/15/50)^(a)(b)		16,882		16,230,944
3.50%, 04/15/25 (Call 03/15/25)^(b)		46,575		51,022,293
3.60%, 11/15/60 (Call 05/15/60)^(b)		12,150		11,886,044
3.75%, 04/15/27 (Call 02/15/27)^(b)		64,188		71,649,303
3.88%, 04/15/30 (Call 01/15/30)^(b)		93,308		104,805,860
4.38%, 04/15/40 (Call 10/15/39)^(a)(b)		30,088		34,698,703
4.50%, 04/15/50 (Call 10/15/49)^(b)		46,325		53,957,484
Verizon Communications Inc.
1.50%, 09/18/30 (Call 06/18/30)^(a)		14,888		14,630,505
1.68%, 10/30/30 (Call 07/30/30)^(a)(b)		165		162,983
2.63%, 08/15/26		32,945		35,805,404
2.99%, 10/30/56 (Call 04/30/56)^(b)		108,894		110,193,519
3.00%, 03/22/27 (Call 01/22/27)^(a)		9,683		10,685,282
3.15%, 03/22/30 (Call 12/22/29)		17,807		19,840,812
3.38%, 02/15/25^(a)		35,022		38,878,192
3.50%, 11/01/24 (Call 08/01/24)^(a)		26,786		29,534,094
3.85%, 11/01/42 (Call 05/01/42)^(a)		12,109		14,232,908
3.88%, 02/08/29 (Call 11/08/28)^(a)		14,532		16,993,516
4.00%, 03/22/50 (Call 09/22/49)^(a)		14,743		17,796,965
4.02%, 12/03/29 (Call 09/03/29)		60,796		71,891,525
4.13%, 03/16/27		47,585		55,769,263
4.27%, 01/15/36		38,011		46,555,052
4.33%, 09/21/28		61,288		73,653,105
4.40%, 11/01/34 (Call 05/01/34)		39,799		49,156,449
4.50%, 08/10/33		43,554		54,092,339
4.52%, 09/15/48		60,881		78,071,517
4.67%, 03/15/55		29,362		39,192,544
4.86%, 08/21/46		58,246		77,328,112
5.01%, 04/15/49		21,902		30,184,813
5.01%, 08/21/54^(a)		13,006		18,199,894
5.25%, 03/16/37		125		169,287
Vodafone Group PLC
3.75%, 01/16/24^(a)		24,592		26,806,318
4.13%, 05/30/25^(a)		25,726		29,237,823
4.25%, 09/17/50		17,541		20,185,518
4.38%, 05/30/28^(a)		45,350		53,531,906
4.38%, 02/19/43		21,339		24,928,277
4.88%, 06/19/49^(a)		28,134		34,800,813
5.00%, 05/30/38^(a)		15,137		18,729,955
5.25%, 05/30/48^(a)		42,279		54,665,517
6.15%, 02/27/37^(a)		26,454		36,705,888


				3,567,669,922

Toys, Games & Hobbies — 0.0%
Hasbro Inc., 3.90%, 11/19/29 (Call 08/19/29)		15,036		16,182,736


Transportation — 1.4%
Burlington Northern Santa Fe LLC
3.55%, 02/15/50 (Call 08/15/49)^(a)		10,957		12,602,215
3.90%, 08/01/46 (Call 02/01/46)		12,666		15,106,458
4.05%, 06/15/48 (Call 12/15/47)^(a)		11,442		14,014,919
4.13%, 06/15/47 (Call 12/15/46)		11,943		14,682,011
4.15%, 04/01/45 (Call 10/01/44)		13,883		16,999,922
4.15%, 12/15/48 (Call 06/15/48)		11,879		14,779,312
4.45%, 03/15/43 (Call 09/15/42)^(a)		10,445		13,166,074
4.55%, 09/01/44 (Call 03/01/44)^(a)		12,700		16,294,531
4.90%, 04/01/44 (Call 10/01/43)		15,000		20,154,952
5.75%, 05/01/40 (Call 11/01/39)		12,537		17,810,848


Security	Par (000)		Value

Transportation (continued)
Canadian Pacific Railway Co., 6.13%, 09/15/2115 (Call 03/15/2115)	$	12,960	$	19,194,109
CSX Corp.
3.25%, 06/01/27 (Call 03/01/27)^(a)		13,301		14,854,335
3.80%, 03/01/28 (Call 12/01/27)^(a)		17,614		20,315,563
3.80%, 11/01/46 (Call 05/01/46)		10,123		11,579,773
4.10%, 03/15/44 (Call 09/15/43)		11,764		13,902,349
4.25%, 03/15/29 (Call 12/15/28)^(a)		17,901		21,374,030
4.30%, 03/01/48 (Call 09/01/47)		14,859		18,270,411
FedEx Corp.
3.10%, 08/05/29 (Call 05/05/29)		17,009		18,865,180
3.25%, 04/01/26 (Call 01/01/26)		19,285		21,428,061
3.80%, 05/15/25 (Call 04/15/25)^(a)		9,346		10,524,489
4.00%, 01/15/24^(a)		2,629		2,898,023
4.05%, 02/15/48 (Call 08/15/47)		14,444		16,493,100
4.25%, 05/15/30 (Call 02/15/30)^(a)		8,382		10,062,888
4.40%, 01/15/47 (Call 07/15/46)		11,771		13,916,352
4.55%, 04/01/46 (Call 10/01/45)		17,872		21,566,078
4.75%, 11/15/45 (Call 05/15/45)		15,229		18,812,073
4.95%, 10/17/48 (Call 04/17/48)		17,067		21,881,836
5.10%, 01/15/44		11,489		14,714,908
5.25%, 05/15/50 (Call 11/15/49)		18,442		24,715,762
Norfolk Southern Corp.
3.05%, 05/15/50 (Call 11/15/49)		12,283		12,768,210
3.16%, 05/15/55 (Call 11/15/54)		12,365		12,797,110
Union Pacific Corp.
2.40%, 02/05/30 (Call 11/05/29)^(a)		18,719		19,997,457
3.25%, 02/05/50 (Call 08/05/49)^(a)		21,260		22,933,530
3.70%, 03/01/29 (Call 12/01/28)		19,329		22,356,640
3.75%, 02/05/70 (Call 08/05/69)		12,391		13,559,951
3.80%, 10/01/51 (Call 04/01/51)		17,091		19,936,816
3.84%, 03/20/60 (Call 09/20/59)		25,447		28,946,937
3.95%, 09/10/28 (Call 06/10/28)^(a)		18,204		21,343,562
United Parcel Service Inc.
3.05%, 11/15/27 (Call 08/15/27)^(a)		7,630		8,514,984
3.40%, 03/15/29 (Call 12/15/28)		6,976		7,978,772
3.75%, 11/15/47 (Call 05/15/47)		15,709		18,905,973
3.90%, 04/01/25 (Call 03/01/25)		18,147		20,584,578
4.25%, 03/15/49 (Call 09/15/48)		10,788		13,690,743
4.45%, 04/01/30 (Call 01/01/30)^(a)		14,240		17,685,875


Security	Par/ Shares (000)		Value


Transportation (continued)
5.30%, 04/01/50 (Call 10/01/49)	$	19,904	$	28,759,652
6.20%, 01/15/38		23,657		35,500,473


				797,241,825

Water — 0.0%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)^(a)		12,485		14,488,533
6.59%, 10/15/37^(a)		4,467		6,812,896


				21,301,429


Total Corporate Bonds & Notes — 97.2% (Cost: $52,152,678,487)				54,494,973,939


Short-Term Investments

Money Market Funds — 5.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(e)(f)(g)		1,990,923		1,992,316,199
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(e)(f)		1,038,294		1,038,294,000

				3,030,610,199


Total Short-Term Investments — 5.4% (Cost: $3,029,382,438)				3,030,610,199


Total Investments in Securities — 102.6% (Cost: $55,182,060,925)				57,525,584,138

Other Assets, Less Liabilities — (2.6)%				(1,481,806,150	)


Net Assets — 100.0%			$	56,043,777,988

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

^(b)	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.

^(c)	Rounds to less than 1,000.

^(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)	Affiliate of the Fund.

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

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


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.5%
Lamar Media Corp.
3.75%, 02/15/28 (Call 02/15/23)^(a)	$	3,850	$	3,838,450
4.00%, 02/15/30 (Call 02/15/25)^(a)		2,695		2,695,000
5.00%, 05/01/23 (Call 05/01/20)		8,472		8,535,540
5.75%, 02/01/26 (Call 02/01/21)^(b)		14,590		15,210,075
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.63%, 03/15/30 (Call 03/15/25)^(a)		7,246		7,278,752
5.00%, 08/15/27 (Call 08/15/22)^(a)(b)		9,833		10,140,281
5.63%, 02/15/24 (Call 02/15/21)^(b)		6,289		6,401,686
Terrier Media Buyer Inc., 8.88%, 12/15/27 (Call 12/15/22)^(a)		16,084		15,963,370


				70,063,154

Aerospace & Defense — 2.8%
Arconic Inc.
5.13%, 10/01/24 (Call 07/01/24)^(b)		18,269		19,628,214
5.40%, 04/15/21 (Call 01/15/21)		17,065		17,335,758
5.87%, 02/23/22^(b)		7,659		8,068,278
Bombardier Inc.
5.75%, 03/15/22^(a)(b)		5,969		6,103,951
6.00%, 10/15/22 (Call 04/15/20)^(a)(b)		17,708		17,398,110
6.13%, 01/15/23^(a)(b)		19,244		19,485,091
7.50%, 12/01/24 (Call 12/01/20)^(a)(b)		14,353		14,532,413
7.50%, 03/15/25 (Call 03/15/20)^(a)(b)		22,291		22,012,362
7.88%, 04/15/27 (Call 04/15/22)^(a)		30,167		29,940,747
8.75%, 12/01/21^(a)(b)		14,179		15,175,950
Signature Aviation U.S. Holdings Inc.
4.00%, 03/01/28 (Call 03/01/23)^(a)		9,401		9,196,716
5.38%, 05/01/26 (Call 05/01/21)^(a)(b)		6,608		6,756,680
SSL Robotics LLC, 9.75%, 12/31/23 (Call 12/15/21)^(a)		14,907		16,014,441
TransDigm Inc.
5.50%, 11/15/27 (Call 11/15/22)^(a)(b)		40,376		40,325,530
6.25%, 03/15/26 (Call 03/15/22)^(a)		62,470		66,296,287
6.38%, 06/15/26 (Call 06/15/21)^(b)		12,539		12,868,149
6.50%, 07/15/24 (Call 07/15/20)^(b)		16,304		16,670,840
6.50%, 05/15/25 (Call 05/15/20)^(b)		10,558		10,854,944
7.50%, 03/15/27 (Call 03/15/22)		6,744		7,098,060
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/15/21)^(b)		6,719		7,054,950
Triumph Group Inc.
6.25%, 09/15/24 (Call 09/15/20)^(a)(b)		5,985		6,216,919
7.75%, 08/15/25 (Call 08/15/20)^(b)		8,382		8,298,180


				377,332,570

Agriculture — 0.4%
JBS Investments GmbH, 6.25%, 02/05/23 (Call 02/05/21)^(a)		6,595		6,657,653
JBS Investments II GmbH
5.75%, 01/15/28 (Call 07/30/22)^(a)		10,330		10,794,850
7.00%, 01/15/26 (Call 01/15/22)^(a)(b)		15,281		16,312,467
Vector Group Ltd.
6.13%, 02/01/25 (Call 02/01/21)^(a)		12,751		12,313,003
10.50%, 11/01/26 (Call 11/01/21)^(a)		9,206		9,182,985


				55,260,958

Airlines — 0.2%
Air Canada, 7.75%, 04/15/21^(a)(b)		4,475		4,692,843
American Airlines Group Inc.
3.75%, 03/01/25^(a)		9,655		8,858,463
5.00%, 06/01/22^(a)(b)		8,765		8,809,219


Security	Par (000)		Value

Airlines (continued)
United Airlines Holdings Inc., 4.25%, 10/01/22^(b)	$	5,078	$	5,078,000


				27,438,525

Apparel — 0.2%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)		12,563		13,128,335
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		13,128		13,751,580


				26,879,915

Auto Manufacturers — 0.8%
Allison Transmission Inc.
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)		5,319		5,458,624
5.00%, 10/01/24 (Call 10/01/20)^(a)(b)		13,535		13,682,667
5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		7,527		8,157,386
Fiat Chrysler Automobiles NV, 5.25%, 04/15/23^(b)		23,480		24,648,952
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)(b)		7,858		6,506,806
5.63%, 02/01/23 (Call 02/01/21)^(a)(b)		7,097		6,890,534
Navistar International Corp., 6.63%, 11/01/25 (Call 11/01/20)^(a)		15,500		16,081,250
Tesla Inc., 5.30%, 08/15/25 (Call 08/15/20)^(a)(b)		27,367		27,024,912


				108,451,131

Auto Parts & Equipment — 1.1%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 08/15/21)^(a)(b)		14,359		12,384,586
Adient U.S. LLC, 7.00%, 05/15/26 (Call 05/15/22)^(a)(b)		9,563		9,945,582
American Axle & Manufacturing Inc.
6.25%, 04/01/25 (Call 04/01/20)^(b)		10,067		9,801,614
6.25%, 03/15/26 (Call 03/15/21)^(b)		5,681		5,443,818
6.50%, 04/01/27 (Call 04/01/22)		8,090		7,766,400
6.63%, 10/15/22 (Call 10/15/20)		4,019		4,054,166
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/20)^(a)(b)		4,962		5,105,495
Dana Inc., 5.50%, 12/15/24 (Call 12/15/20)^(b)		5,373		5,503,967
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(b)		12,239		11,839,274
5.00%, 05/31/26 (Call 05/31/21)^(b)		11,528		11,344,273
5.13%, 11/15/23 (Call 11/15/20)^(b)		14,148		14,096,439
Panther BF Aggregator 2 LP/Panther Finance Co. Inc.
6.25%, 05/15/26 (Call 05/15/22)^(a)		13,190		13,616,191
8.50%, 05/15/27 (Call 05/15/22)^(a)(b)		30,043		30,520,870


				141,422,675

Banks — 1.2%
CIT Group Inc.
4.13%, 03/09/21 (Call 02/09/21)		6,854		6,914,635
4.75%, 02/16/24 (Call 11/16/23)		7,352		7,811,500
5.00%, 08/15/22		17,551		18,383,664
5.00%, 08/01/23^(b)		10,681		11,371,927
5.25%, 03/07/25 (Call 12/07/24)^(b)		7,020		7,704,450
6.13%, 03/09/28^(b)		6,303		7,563,600
Deutsche Bank AG, 4.30%, 05/24/28 (Call 05/24/23)^(b)(c)		23,284		22,458,119
Deutsche Bank AG/New York NY, 4.88%, 12/01/32 (Call 12/01/27)^(c)		15,182		14,462,285
Fifth Third Bancorp., 5.10%, (Call 06/30/23)^(b)(c)(d)		8,294		8,193,781
Freedom Mortgage Corp.
8.13%, 11/15/24 (Call 11/15/20)^(a)		5,730		5,393,363
8.25%, 04/15/25 (Call 04/15/21)^(a)		11,037		10,693,289
Intesa Sanpaolo SpA, 5.02%, 06/26/24^(a)		31,659		33,186,249


				154,136,862


Security	Par (000)		Value

Building Materials — 0.6%
Builders FirstSource Inc.
5.00%, 03/01/30 (Call 03/01/25)^(a)	$	5,470	$	5,472,626
6.75%, 06/01/27 (Call 06/01/22)^(a)(b)		474		510,735
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23)^(a)		8,720		8,798,436
Standard Industries Inc./NJ
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		16,370		16,847,857
5.00%, 02/15/27 (Call 02/15/22)^(a)(b)		5,467		5,651,511
5.38%, 11/15/24 (Call 11/15/20)^(a)		14,558		14,827,869
5.50%, 02/15/23 (Call 02/15/21)^(a)(b)		473		478,912
6.00%, 10/15/25 (Call 10/15/20)^(a)(b)		14,748		15,411,660
Summit Materials LLC/Summit Materials Finance Corp., 6.13%, 07/15/23 (Call 07/15/20)		9,440		9,522,600


				77,522,206

Chemicals — 1.4%
Ashland LLC, 4.75%, 08/15/22 (Call 05/15/22)^(b)		2,385		2,492,325
Blue Cube Spinco LLC
9.75%, 10/15/23 (Call 10/15/20)		9,523		10,073,632
10.00%, 10/15/25 (Call 10/15/20)		7,916		8,587,673
CF Industries Inc., 3.45%, 06/01/23^(b)		8,851		8,961,638
Chemours Co. (The)
5.38%, 05/15/27 (Call 02/15/27)^(b)		7,269		6,277,827
6.63%, 05/15/23 (Call 05/15/20)		14,546		14,068,891
7.00%, 05/15/25 (Call 05/15/20)^(b)		10,682		9,960,965
NOVA Chemicals Corp.
4.88%, 06/01/24 (Call 03/03/24)^(a)(b)		14,334		13,738,243
5.00%, 05/01/25 (Call 01/31/25)^(a)		7,479		7,304,926
5.25%, 08/01/23 (Call 08/01/20)^(a)		6,399		6,462,990
5.25%, 06/01/27 (Call 03/03/27)^(a)		16,877		16,328,498
OCI NV
5.25%, 11/01/24 (Call 11/01/21)^(a)(b)		10,865		10,989,494
6.63%, 04/15/23 (Call 04/15/20)^(a)(b)		7,381		7,577,707
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(b)		7,519		7,293,430
5.13%, 09/15/27 (Call 03/15/22)^(b)		6,404		6,546,089
5.63%, 08/01/29 (Call 08/01/24)^(b)		12,915		13,108,725
Tronox Finance PLC, 5.75%, 10/01/25 (Call 10/01/20)^(a)(b)		5,752		5,456,395
Tronox Inc., 6.50%, 04/15/26 (Call 04/15/21)^(a)(b)		8,924		8,544,730
Valvoline Inc., 4.25%, 02/15/30 (Call 02/15/25)^(a)		9,285		9,157,331
WR Grace & Co.-Conn, 5.13%, 10/01/21^(a)(b)		9,772		10,028,515


				182,960,024

Coal — 0.0%
Peabody Energy Corp.
6.00%, 03/31/22 (Call 03/31/20)^(a)		67		57,117
6.38%, 03/31/25 (Call 03/31/20)^(a)		91		62,763


				119,880

Commercial Services — 4.2%
ADT Security Corp. (The)
3.50%, 07/15/22^(b)		13,327		13,320,744
4.13%, 06/15/23^(b)		11,584		11,795,408
6.25%, 10/15/21^(b)		13,185		13,774,128
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.63%, 07/15/26 (Call 07/15/22)^(a)(b)		22,334		23,422,782
9.75%, 07/15/27 (Call 07/15/22)^(a)		15,313		16,336,164
APX Group Inc.
6.75%, 02/15/27 (Call 02/15/23)^(a)		3,910		3,787,813
7.63%, 09/01/23 (Call 09/01/20)^(b)		9,185		8,748,713
7.88%, 12/01/22 (Call 12/01/20)		17,406		17,619,224


Security	Par (000)		Value

Commercial Services (continued)
8.75%, 12/01/20 (Call 03/13/20)	$	264	$	264,469
Avis Budget Car Rental LLC/Avis Budget Finance Inc., 5.75%, 07/15/27 (Call 07/15/22)^(a)(b)		6,219		6,219,000
Garda World Security Corp., 4.63%, 02/15/27 (Call 02/15/23)^(a)		8,450		8,344,375
GW B-CR Security Corp., 9.50%, 11/01/27 (Call 11/01/22)^(a)(b)		7,500		7,931,250
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)(b)		17,793		18,469,490
Hertz Corp. (The)
5.50%, 10/15/24 (Call 10/15/20)^(a)(b)		11,636		11,191,578
6.00%, 01/15/28 (Call 01/15/23)^(a)(b)		14,817		13,724,246
6.25%, 10/15/22 (Call 10/15/20)		6,008		5,870,947
7.13%, 08/01/26 (Call 08/01/22)^(a)(b)		7,149		7,078,868
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 08/01/23 (Call 08/01/20)^(a)(b)		20,134		20,762,181
MPH Acquisition Holdings LLC, 7.13%, 06/01/24 (Call 06/01/20)^(a)(b)		24,611		22,893,644
Nielsen Co Luxembourg SARL/The
5.00%, 02/01/25 (Call 02/01/21)^(a)(b)		7,518		7,499,205
5.50%, 10/01/21 (Call 03/30/20)^(a)		7,851		7,836,279
Nielsen Finance LLC/Nielsen Finance Co., 5.00%, 04/15/22 (Call 04/15/20)^(a)(b)		35,417		35,339,083
Prime Security Services Borrower LLC/Prime Finance Inc.
5.25%, 04/15/24^(a)(b)		11,869		12,251,033
5.75%, 04/15/26^(a)(b)		19,070		19,832,800
6.25%, 01/15/28 (Call 01/15/23)^(a)		21,688		21,043,866
Refinitiv U.S. Holdings Inc.
6.25%, 05/15/26 (Call 11/15/21)^(a)		18,130		19,489,750
8.25%, 11/15/26 (Call 11/15/21)^(a)		21,871		24,085,439
Service Corp. International/U.S.
4.63%, 12/15/27 (Call 12/15/22)^(b)		7,518		7,836,168
5.13%, 06/01/29 (Call 06/01/24)^(b)		10,907		11,793,194
5.38%, 05/15/24 (Call 05/15/20)^(b)		10,647		10,846,631
ServiceMaster Co. LLC (The), 5.13%, 11/15/24 (Call 11/15/20)^(a)		10,085		10,400,156
United Rentals North America Inc.
3.88%, 11/15/27 (Call 11/15/22)		11,250		11,348,438
4.00%, 07/15/30 (Call 07/15/25)		12,415		12,118,902
4.63%, 10/15/25 (Call 10/15/20)		10,907		11,084,239
4.88%, 01/15/28 (Call 01/15/23)^(b)		24,609		25,394,027
5.25%, 01/15/30 (Call 01/15/25)^(b)		10,872		11,489,722
5.50%, 07/15/25 (Call 07/15/20)		10,478		10,829,602
5.50%, 05/15/27 (Call 05/15/22)^(b)		13,324		13,923,580
5.88%, 09/15/26 (Call 09/15/21)^(b)		14,456		15,251,080
6.50%, 12/15/26 (Call 12/15/21)		14,887		15,916,685
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)^(a)(b)		18,227		19,867,430


				567,032,333

Computers — 1.4%
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)^(a)(b)		22,936		23,057,847
Dell Inc., 4.63%, 04/01/21		4,375		4,419,844
Dell International LLC/EMC Corp.
5.88%, 06/15/21 (Call 06/15/20)^(a)		13,872		13,958,700
7.13%, 06/15/24 (Call 06/15/20)^(a)(b)		24,832		26,011,520
EMC Corp., 3.38%, 06/01/23 (Call 03/01/23)^(b)		15,162		15,224,543


Security	Par (000)		Value

Computers (continued)
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 07/15/20)^(a)(b)	$	14,676	$	4,768,111
NCR Corp.
5.00%, 07/15/22 (Call 07/15/20)^(b)		7,581		7,618,905
5.75%, 09/01/27 (Call 09/01/22)^(a)		6,747		7,106,502
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		7,501		8,140,835
6.38%, 12/15/23 (Call 12/15/20)^(b)		9,141		9,311,242
Vericast Corp.
8.38%, 08/15/22 (Call 02/15/21)^(a)		14,730		12,281,138
9.25%, 03/01/21 (Call 03/01/20)^(a)(b)		12,271		12,166,185
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(b)		36,088		37,260,860


				181,326,232

Cosmetics & Personal Care — 0.2%
Avon International Capital PLC, 6.50%, 08/15/22 (Call 08/15/20)^(a)(b)		5,303		5,437,000
Avon International Operations Inc., 7.88%, 08/15/22 (Call 08/15/20)^(a)(b)		5,471		5,603,190
Avon Products Inc., 7.00%, 03/15/23		7,276		7,785,320
Edgewell Personal Care Co.
4.70%, 05/19/21^(b)		6,469		6,566,035
4.70%, 05/24/22^(b)		6,589		6,739,756


				32,131,301

Distribution & Wholesale — 0.5%
American Builders & Contractors Supply Co. Inc.
4.00%, 01/15/28 (Call 01/15/23)^(a)(b)		11,297		11,028,696
5.88%, 05/15/26 (Call 05/15/21)^(a)(b)		7,967		8,255,804
Anixter Inc., 5.13%, 10/01/21		3,857		4,010,748
Performance Food Group Inc., 5.50%, 10/15/27 (Call 10/15/22)^(a)(b)		16,559		17,469,745
Wolverine Escrow LLC
8.50%, 11/15/24 (Call 11/15/21)^(a)		8,245		8,040,524
9.00%, 11/15/26 (Call 11/15/22)^(a)		13,059		13,026,352
13.13%, 11/15/27 (Call 11/15/22)^(a)(b)		8,645		9,110,017


				70,941,886

Diversified Financial Services — 2.6%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(b)(c)		11,324		11,493,860
Ally Financial Inc.
5.13%, 09/30/24		354		391,549
5.75%, 11/20/25 (Call 10/20/25)^(b)		14,012		15,769,197
Credit Acceptance Corp.
5.13%, 12/31/24 (Call 12/31/21)^(a)		4,930		5,129,345
6.63%, 03/15/26 (Call 03/15/22)^(a)		5,662		5,952,192
LPL Holdings Inc.
4.63%, 11/15/27 (Call 11/15/22)^(a)(b)		6,412		6,486,828
5.75%, 09/15/25 (Call 03/15/20)^(a)(b)		2,140		2,222,256
Nationstar Mortgage Holdings Inc.
6.00%, 01/15/27 (Call 01/15/23)^(a)(b)		10,105		10,265,467
8.13%, 07/15/23 (Call 07/15/20)^(a)		14,039		14,645,935
9.13%, 07/15/26 (Call 07/15/21)^(a)		9,913		10,727,766
Navient Corp.
5.00%, 03/15/27 (Call 09/15/26)^(b)		11,841		11,467,416
5.50%, 01/25/23		15,686		16,097,758
5.88%, 10/25/24^(b)		7,424		7,618,954
6.13%, 03/25/24^(b)		12,541		12,981,189
6.50%, 06/15/22		14,688		15,348,960
6.75%, 06/25/25^(b)		7,580		8,067,963
6.75%, 06/15/26^(b)		7,806		8,277,326


Security	Par (000)		Value

Diversified Financial Services (continued)
7.25%, 01/25/22^(b)	$	11,438	$	12,067,090
7.25%, 09/25/23^(b)		7,718		8,345,088
Quicken Loans Inc.
5.25%, 01/15/28 (Call 01/15/23)^(a)(b)		14,494		14,965,055
5.75%, 05/01/25 (Call 05/01/20)^(a)(b)		18,203		18,680,829
Springleaf Finance Corp.
5.38%, 11/15/29 (Call 05/15/29)^(b)		11,144		11,394,740
5.63%, 03/15/23		12,357		12,982,573
6.13%, 05/15/22^(b)		14,625		15,487,205
6.13%, 03/15/24 (Call 09/15/23)^(b)		18,051		19,053,237
6.63%, 01/15/28 (Call 07/15/27)^(b)		11,941		13,110,223
6.88%, 03/15/25^(b)		18,672		20,612,954
7.13%, 03/15/26^(b)		24,237		26,903,070
7.75%, 10/01/21		7,509		8,013,434
8.25%, 12/15/20		492		511,688


				345,071,147

Electric — 2.5%
AES Corp./VA
4.00%, 03/15/21		9,169		9,214,845
4.50%, 03/15/23 (Call 03/15/20)^(b)		7,937		7,921,126
4.88%, 05/15/23 (Call 05/15/20)^(b)		9,803		9,747,858
5.13%, 09/01/27 (Call 09/01/22)^(b)		8,955		9,302,006
5.50%, 04/15/25 (Call 04/15/20)^(b)		9,010		9,216,509
6.00%, 05/15/26 (Call 05/15/21)^(b)		11,136		11,567,680
Calpine Corp.
4.50%, 02/15/28 (Call 02/15/23)^(a)(b)		17,430		16,690,724
5.13%, 03/15/28 (Call 03/15/23)^(a)		22,195		20,929,308
5.25%, 06/01/26 (Call 06/01/21)^(a)		18,799		18,953,505
5.50%, 02/01/24 (Call 02/01/21)^(b)		7,482		7,449,266
5.75%, 01/15/25 (Call 10/15/20)^(b)		17,704		17,740,293
Clearway Energy Operating LLC
4.75%, 03/15/28 (Call 03/15/23)^(a)(b)		8,645		8,850,319
5.75%, 10/15/25 (Call 10/15/21)^(b)		7,991		8,250,708
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)		7,731		7,801,159
4.25%, 07/15/24 (Call 04/15/24)^(a)		9,898		10,098,435
4.25%, 09/15/24 (Call 07/15/24)^(a)(b)		8,293		8,369,296
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		8,030		8,372,560
NRG Energy Inc.
5.25%, 06/15/29 (Call 06/15/24)^(a)(b)		11,204		11,568,130
5.75%, 01/15/28 (Call 01/15/23)^(b)		11,382		11,794,598
6.63%, 01/15/27 (Call 07/15/21)^(b)		18,191		18,966,300
7.25%, 05/15/26 (Call 05/15/21)^(b)		15,681		16,602,259
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 06/01/20)		8,965		6,876,155
6.63%, 01/15/28 (Call 01/15/23)^(a)(b)		4,871		4,688,198
7.25%, 05/15/27 (Call 05/15/22)^(a)(b)		11,105		11,118,881
10.50%, 01/15/26 (Call 01/15/22)^(a)(b)		11,308		9,876,831
Vistra Energy Corp., 5.88%, 06/01/23 (Call 06/01/20)		6,232		6,285,221
Vistra Operations Co. LLC
5.00%, 07/31/27 (Call 07/31/22)^(a)(b)		20,284		20,538,225
5.50%, 09/01/26 (Call 09/01/21)^(a)		13,351		13,542,921
5.63%, 02/15/27 (Call 02/15/22)^(a)(b)		17,709		18,151,725


				340,485,041

Electrical Components & Equipment — 0.2%
Energizer Holdings Inc.
5.50%, 06/15/25 (Call 06/15/20)^(a)(b)		6,905		7,055,934
6.38%, 07/15/26 (Call 07/15/21)^(a)(b)		7,285		7,556,730


Security	Par (000)		Value

Electrical Components & Equipment (continued)
7.75%, 01/15/27 (Call 01/15/22)^(a)(b)	$	8,680	$	9,439,500


				24,052,164

Electronics — 0.2%
Sensata Technologies BV
4.88%, 10/15/23^(a)		7,470		7,936,875
5.00%, 10/01/25^(a)		10,303		10,869,665
5.63%, 11/01/24^(a)(b)		5,959		6,480,413
Sensata Technologies Inc., 4.38%, 02/15/30^(a)		6,502		6,468,623


				31,755,576

Energy - Alternate Sources — 0.2%
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)^(a)		5,235		5,333,156
4.75%, 01/15/30 (Call 01/15/25)^(a)		10,941		11,310,259
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		10,635		11,459,213


				28,102,628

Engineering & Construction — 0.3%
AECOM
5.13%, 03/15/27 (Call 12/15/26)		15,286		16,050,300
5.88%, 10/15/24 (Call 07/15/24)^(b)		11,782		12,858,698
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/20)^(a)(b)		15,326		14,885,378


				43,794,376

Entertainment — 2.1%
AMC Entertainment Holdings Inc.
5.75%, 06/15/25 (Call 06/15/20)^(b)		9,046		7,372,490
5.88%, 11/15/26 (Call 11/15/21)^(b)		9,076		7,255,127
6.13%, 05/15/27 (Call 05/15/22)^(b)		7,654		6,052,439
Caesars Resort Collection LLC/CRC Finco Inc., 5.25%, 10/15/25 (Call 10/15/20)^(a)(b)		26,860		26,658,550
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(a)(b)		7,570		7,570,000
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.38%, 04/15/27 (Call 04/15/22)^(b)		7,103		7,253,939
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		6,489		6,489,000
5.50%, 04/01/27 (Call 04/01/22)^(a)(b)		8,913		9,244,564
Cinemark USA Inc.
4.88%, 06/01/23 (Call 06/01/20)^(b)		9,139		9,104,729
5.13%, 12/15/22 (Call 12/15/20)^(b)		5,063		5,088,315
Eldorado Resorts Inc.
6.00%, 04/01/25 (Call 04/01/20)^(b)		12,820		13,396,900
6.00%, 09/15/26 (Call 09/15/21)		8,429		9,139,446
International Game Technology PLC
6.25%, 02/15/22 (Call 08/15/21)^(a)		22,658		23,323,465
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		10,649		11,617,127
6.50%, 02/15/25 (Call 08/15/24)^(a)		17,476		18,939,615
Lions Gate Capital Holdings LLC
5.88%, 11/01/24 (Call 11/01/20)^(a)(b)		7,813		7,576,266
6.38%, 02/01/24 (Call 02/01/21)^(a)(b)		8,130		8,015,855
Live Nation Entertainment Inc., 4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		13,908		13,977,540
Scientific Games International Inc.
5.00%, 10/15/25 (Call 10/15/20)^(a)		16,868		16,910,170
7.00%, 05/15/28 (Call 05/15/23)^(a)(b)		10,697		10,429,575
7.25%, 11/15/29 (Call 11/15/24)^(a)(b)		8,973		8,703,810
8.25%, 03/15/26 (Call 03/15/22)^(a)(b)		15,969		16,403,357
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 07/31/20)^(a)		13,727		13,624,047
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		8,176		7,887,387


Security	Par (000)		Value

Entertainment (continued)
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 (Call 07/15/21)^(a)(b)	$	14,059	$	15,113,425


				287,147,138

Environmental Control — 0.4%
Covanta Holding Corp.
5.88%, 03/01/24 (Call 03/01/20)		5,507		5,579,279
5.88%, 07/01/25 (Call 07/01/20)^(b)		6,343		6,509,504
6.00%, 01/01/27 (Call 01/01/22)^(b)		6,221		6,296,170
GFL Environmental Inc.
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		7,080		7,327,800
5.38%, 03/01/23 (Call 03/01/20)^(a)		6,500		6,645,031
7.00%, 06/01/26 (Call 06/01/21)^(a)(b)		9,568		10,058,360
8.50%, 05/01/27 (Call 05/01/22)^(a)(b)		8,244		8,942,267


				51,358,411

Food — 2.8%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
3.50%, 02/15/23 (Call 12/15/22)^(a)(b)		7,535		7,519,779
4.63%, 01/15/27 (Call 01/15/22)^(a)(b)		17,448		17,208,090
4.88%, 02/15/30 (Call 02/15/25)^(a)(b)		15,495		15,521,633
5.75%, 03/15/25 (Call 09/15/20)		25,280		26,196,400
5.88%, 02/15/28 (Call 08/15/22)^(a)(b)		11,750		12,241,150
6.63%, 06/15/24 (Call 06/15/20)		18,843		19,421,636
7.50%, 03/15/26 (Call 03/15/22)^(a)(b)		11,403		12,628,823
B&G Foods Inc.
5.25%, 04/01/25 (Call 04/01/20)^(b)		12,551		12,411,408
5.25%, 09/15/27 (Call 03/01/22)^(b)		8,757		8,559,968
JBS USA LUX SA/JBS USA Finance Inc.
5.75%, 06/15/25 (Call 06/15/20)^(a)(b)		15,866		16,282,482
5.88%, 07/15/24 (Call 07/15/20)^(a)		12,299		12,540,053
6.75%, 02/15/28 (Call 02/15/23)^(a)(b)		12,694		13,779,337
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc.
5.50%, 01/15/30 (Call 01/15/25)^(a)(b)		18,489		19,598,340
6.50%, 04/15/29 (Call 04/15/24)^(a)(b)		20,834		22,650,725
Lamb Weston Holdings Inc.
4.63%, 11/01/24 (Call 11/01/21)^(a)(b)		12,088		12,571,520
4.88%, 11/01/26 (Call 11/01/21)^(a)(b)		10,708		11,109,550
Pilgrim’s Pride Corp.
5.75%, 03/15/25 (Call 03/15/20)^(a)(b)		14,821		15,070,993
5.88%, 09/30/27 (Call 09/30/22)^(a)(b)		12,856		13,338,100
Post Holdings Inc.
4.63%, 04/15/30 (Call 04/15/25)^(a)		10,950		10,781,918
5.00%, 08/15/26 (Call 08/15/21)^(a)		26,780		27,288,820
5.50%, 03/01/25 (Call 03/01/20)^(a)(b)		20,169		20,999,660
5.50%, 12/15/29 (Call 12/15/24)^(a)		15,052		15,616,450
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		13,791		14,340,985
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		23,246		24,202,805


				381,880,625

Food Service — 0.2%
Aramark Services Inc.
4.75%, 06/01/26 (Call 06/01/21)^(b)		5,147		5,303,366
5.00%, 04/01/25 (Call 04/01/20)^(a)(b)		8,626		8,901,853
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		17,272		18,049,240


				32,254,459

Forest Products & Paper — 0.1%
Mercer International Inc., 7.38%, 01/15/25 (Call 01/15/21)^(b)		8,186		8,288,325


Security	Par (000)		Value

Gas — 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)^(b)	$	9,332	$	9,518,827
5.63%, 05/20/24 (Call 03/20/24)		10,069		10,468,739
5.75%, 05/20/27 (Call 02/20/27)^(b)		8,949		9,358,864
5.88%, 08/20/26 (Call 05/20/26)^(b)		10,732		11,208,429


				40,554,859

Hand & Machine Tools — 0.1%
Colfax Corp.
6.00%, 02/15/24 (Call 02/15/21)^(a)(b)		6,747		6,988,070
6.38%, 02/15/26 (Call 02/15/22)^(a)(b)		6,073		6,438,329


				13,426,399

Health Care - Products — 0.6%
Avantor Inc.
6.00%, 10/01/24 (Call 10/01/20)^(a)(b)		21,728		22,868,720
9.00%, 10/01/25 (Call 10/01/20)^(a)		31,811		34,753,518
Hologic Inc.
4.38%, 10/15/25 (Call 10/15/20)^(a)(b)		13,509		13,769,363
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		4,814		5,028,123
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 6.63%, 05/15/22 (Call 03/30/20)^(a)(b)		2,947		2,924,013


				79,343,737

Health Care - Services — 8.0%
Acadia Healthcare Co. Inc., 5.63%, 02/15/23 (Call 02/15/21)		8,475		8,538,563
Centene Corp.
3.38%, 02/15/30 (Call 02/15/25)^(a)		16,665		16,631,337
4.25%, 12/15/27 (Call 12/15/22)^(a)		31,741		32,732,906
4.63%, 12/15/29 (Call 12/15/24)^(a)		52,404		56,074,900
4.75%, 05/15/22 (Call 05/15/20)		20,334		20,576,991
4.75%, 01/15/25 (Call 01/15/21)^(b)		22,883		23,461,940
4.75%, 01/15/25 (Call 01/15/21)^(a)		3,059		3,136,393
5.25%, 04/01/25 (Call 04/01/20)^(a)(b)		25,937		26,812,374
5.38%, 06/01/26 (Call 06/01/21)^(a)(b)		39,029		41,089,731
5.38%, 08/15/26 (Call 08/15/21)^(a)(b)		15,033		15,859,815
6.13%, 02/15/24 (Call 02/15/21)		13,759		14,181,401
Charles River Laboratories International Inc.
4.25%, 05/01/28 (Call 05/01/23)^(a)		7,222		7,357,413
5.50%, 04/01/26 (Call 04/01/21)^(a)(b)		7,041		7,426,988
CHS/Community Health Systems Inc.
6.25%, 03/31/23 (Call 03/31/20)^(b)		46,052		45,807,924
6.63%, 02/15/25 (Call 02/15/22)^(a)		12,316		12,545,847
6.88%, 04/01/28 (Call 04/01/23)^(a)		36,731		20,934,947
8.00%, 03/15/26 (Call 03/15/22)^(a)		29,587		30,569,288
8.00%, 12/15/27 (Call 12/15/22)^(a)		14,808		15,138,095
8.13%, 06/30/24 (Call 06/30/21)^(a)(b)		18,377		16,909,688
8.63%, 01/15/24 (Call 01/15/21)^(a)		14,526		15,184,729
9.88%, 06/30/23 (Call 06/30/20)^(a)(e)		25,390		24,160,108
DaVita Inc.
5.00%, 05/01/25 (Call 05/01/20)^(b)		21,361		21,724,137
5.13%, 07/15/24 (Call 07/15/20)^(b)		26,797		27,131,963
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)		7,076		7,174,003
4.75%, 02/01/30 (Call 02/01/25)^(b)		7,323		7,577,474
5.75%, 11/01/24 (Call 11/01/20)		9,027		9,110,500
Envision Healthcare Corp., 8.75%, 10/15/26 (Call 10/15/21)^(a)(b)		18,184		9,682,980
HCA Healthcare Inc., 6.25%, 02/15/21		13,587		14,101,268


Security	Par (000)		Value

Health Care - Services (continued)
HCA Inc.
3.50%, 09/01/30 (Call 03/01/30)	$	31,875	$	31,234,312
5.38%, 02/01/25		42,504		46,988,172
5.38%, 09/01/26 (Call 03/01/26)^(b)		16,007		17,788,049
5.63%, 09/01/28 (Call 03/01/28)^(b)		22,689		25,719,456
5.88%, 05/01/23^(b)		19,758		21,609,943
5.88%, 02/15/26 (Call 08/15/25)^(b)		24,071		27,200,230
5.88%, 02/01/29 (Call 08/01/28)		14,719		17,037,243
7.50%, 02/15/22		38,884		42,925,992
LifePoint Health Inc., 4.38%, 02/15/27 (Call 02/15/22)^(a)		3,930		3,876,388
MEDNAX Inc.
5.25%, 12/01/23 (Call 12/01/20)^(a)(b)		10,500		10,270,418
6.25%, 01/15/27 (Call 01/15/22)^(a)(b)		15,253		14,681,013
Molina Healthcare Inc., 5.38%, 11/15/22 (Call 08/15/22)^(b)		9,520		9,929,646
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)^(a)(b)		23,831		25,504,134
Select Medical Corp., 6.25%, 08/15/26 (Call 08/15/22)^(a)(b)		16,437		17,537,457
Tenet Healthcare Corp.
4.63%, 07/15/24 (Call 07/15/20)		28,221		28,573,762
4.63%, 09/01/24 (Call 09/01/21)^(a)(b)		8,296		8,430,810
4.88%, 01/01/26 (Call 03/01/22)^(a)(b)		32,089		32,690,669
5.13%, 05/01/25 (Call 05/01/20)^(b)		20,288		20,440,160
5.13%, 11/01/27 (Call 11/01/22)^(a)		22,942		23,831,003
6.25%, 02/01/27 (Call 02/01/22)^(a)(b)		21,423		22,494,150
6.75%, 06/15/23^(b)		28,203		30,273,334
7.00%, 08/01/25 (Call 08/01/20)^(b)		5,903		6,077,630
8.13%, 04/01/22^(b)		41,928		45,426,892


				1,082,174,566

Holding Companies - Diversified — 0.6%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.75%, 09/15/24 (Call 06/15/24)^(a)(b)		14,240		14,524,800
5.25%, 05/15/27 (Call 11/15/26)^(a)(b)		16,018		16,098,090
6.25%, 02/01/22 (Call 02/01/21)^(b)		16,492		16,774,343
6.25%, 05/15/26 (Call 05/15/22)		19,596		20,112,551
6.38%, 12/15/25 (Call 12/15/20)^(b)		11,569		11,975,753
6.75%, 02/01/24 (Call 02/01/21)		6,529		6,773,838


				86,259,375

Home Builders — 1.6%
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp.
4.88%, 02/15/30 (Call 02/15/25)^(a)		7,380		7,345,314
6.13%, 07/01/22 (Call 07/01/20)^(a)		8,596		8,719,353
6.25%, 09/15/27 (Call 09/15/22)^(a)(b)		7,198		7,413,940
KB Home, 7.00%, 12/15/21 (Call 09/15/21)		5,666		6,013,042
Lennar Corp.
4.13%, 01/15/22 (Call 10/15/21)		8,254		8,450,032
4.50%, 04/30/24 (Call 01/30/24)^(b)		9,112		9,704,280
4.75%, 04/01/21 (Call 02/01/21)		5,534		5,623,928
4.75%, 11/15/22 (Call 08/15/22)^(b)		7,508		7,864,630
4.75%, 05/30/25 (Call 02/28/25)^(b)		6,229		6,710,502
4.75%, 11/29/27 (Call 05/29/27)^(b)		15,501		17,056,835
4.88%, 12/15/23 (Call 09/15/23)		5,206		5,563,913
5.88%, 11/15/24 (Call 05/15/24)^(b)		5,649		6,305,696
Mattamy Group Corp.
4.63%, 03/01/30 (Call 03/01/25)^(a)		6,145		5,961,695
5.25%, 12/15/27 (Call 12/15/22)^(a)(b)		7,000		7,296,450


Security	Par (000)		Value

Home Builders (continued)
6.50%, 10/01/25 (Call 10/01/20)^(a)(b)	$	8,179	$	8,798,886
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)		5,530		6,228,162
PulteGroup Inc.
4.25%, 03/01/21 (Call 02/01/21)		4,922		4,983,525
5.00%, 01/15/27 (Call 10/15/26)		8,275		9,108,921
5.50%, 03/01/26 (Call 12/01/25)^(b)		11,855		13,067,026
Taylor Morrison Communities Inc.
5.75%, 01/15/28 (Call 10/15/27)^(a)		5,792		6,390,053
5.88%, 01/31/25 (Call 01/31/21)^(a)		10,367		10,619,747
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		7,206		8,070,977
Toll Brothers Finance Corp.
3.80%, 11/01/29 (Call 08/01/29)^(b)		7,450		7,532,775
4.35%, 02/15/28 (Call 11/15/27)^(b)		5,888		6,216,079
4.38%, 04/15/23 (Call 01/15/23)^(b)		5,076		5,305,898
4.88%, 03/15/27 (Call 12/15/26)^(b)		6,090		6,643,825
5.88%, 02/15/22 (Call 11/15/21)		4,441		4,668,498
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(b)		5,623		6,093,926


				213,757,908

Home Furnishings — 0.1%
Tempur Sealy International Inc.
5.50%, 06/15/26 (Call 06/15/21)^(b)		8,039		8,410,804
5.63%, 10/15/23 (Call 10/15/20)^(b)		4,556		4,642,287


				13,053,091

Household Products & Wares — 0.2%
Prestige Brands Inc.
5.13%, 01/15/28 (Call 01/15/23)^(a)(b)		6,075		6,272,438
6.38%, 03/01/24 (Call 03/01/20)^(a)(b)		9,696		10,011,120
Spectrum Brands Inc., 5.75%, 07/15/25 (Call 07/15/20)^(b)		14,179		14,568,922


				30,852,480

Insurance — 0.5%
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 11/15/20)^(a)		14,780		14,356,553
8.13%, 02/15/24 (Call 02/15/21)^(a)(b)		12,445		13,191,700
10.13%, 08/01/26 (Call 08/01/22)^(a)(b)		5,733		6,191,640
Genworth Holdings Inc., 7.63%, 09/24/21		7,956		8,173,915
HUB International Ltd., 7.00%, 05/01/26 (Call 05/01/21)^(a)(b)		20,038		20,313,522


				62,227,330

Internet — 2.7%
Match Group Inc.
4.13%, 08/01/30 (Call 05/01/25)^(a)		8,350		8,183,000
5.00%, 12/15/27 (Call 12/15/22)^(a)(b)		5,922		6,174,385
6.38%, 06/01/24 (Call 06/01/20)		4,744		4,914,547
Netflix Inc.
4.38%, 11/15/26^(b)		14,074		14,732,624
4.88%, 04/15/28^(b)		23,553		24,795,656
4.88%, 06/15/30 (Call 03/15/30)^(a)(b)		16,419		17,189,325
5.38%, 02/01/21		3,030		3,090,600
5.38%, 11/15/29^(a)(b)		13,472		14,623,385
5.50%, 02/15/22		9,694		10,147,679
5.75%, 03/01/24^(b)		5,307		5,836,795
5.88%, 02/15/25^(b)		10,992		12,246,874
5.88%, 11/15/28^(b)		27,545		30,934,412
6.38%, 05/15/29		11,457		13,148,053
NortonLifeLock Inc. 3.95%, 06/15/22 (Call 03/15/22)^(b)		4,801		4,881,108


Security	Par (000)		Value

Internet (continued)
5.00%, 04/15/25 (Call 04/15/20)^(a)(b)	$	15,999	$	16,142,991
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 (Call 10/01/22)^(a)(b)		12,517		11,892,777
Uber Technologies Inc.
7.50%, 11/01/23 (Call 11/01/20)^(a)		7,148		7,458,864
7.50%, 09/15/27 (Call 09/15/22)^(a)		18,295		19,072,538
8.00%, 11/01/26 (Call 11/01/21)^(a)		21,677		22,571,176
VeriSign Inc.
4.63%, 05/01/23 (Call 05/01/20)^(b)		9,414		9,495,431
4.75%, 07/15/27 (Call 07/15/22)^(b)		7,538		7,852,184
5.25%, 04/01/25 (Call 01/01/25)^(b)		6,817		7,389,628
Zayo Group LLC/Zayo Capital Inc.
5.75%, 01/15/27 (Call 01/15/22)^(a)		36,269		37,039,716
6.00%, 04/01/23 (Call 04/01/20)		28,563		29,143,186
6.38%, 05/15/25 (Call 05/15/20)		18,838		19,279,516


				358,236,450

Iron & Steel — 0.4%
AK Steel Corp., 7.63%, 10/01/21 (Call 03/30/20)^(b)		4,464		4,471,971
Allegheny Technologies Inc., 7.88%, 08/15/23 (Call 05/15/23)^(b)		8,363		8,865,365
Cleveland-Cliffs Inc.
4.88%, 01/15/24 (Call 01/15/21)^(a)(b)		4,680		4,485,488
5.75%, 03/01/25 (Call 03/01/20)^(b)		10,327		9,405,315
5.88%, 06/01/27 (Call 06/01/22)^(a)(b)		10,536		8,871,523
U.S. Steel Corp.
6.25%, 03/15/26 (Call 03/15/21)^(b)		10,467		8,465,186
6.88%, 08/15/25 (Call 08/15/20)^(b)		11,002		9,502,978


				54,067,826

Leisure Time — 0.2%
Sabre GLBL Inc.
5.25%, 11/15/23 (Call 11/15/20)^(a)		5,619		5,620,124
5.38%, 04/15/23 (Call 04/15/20)^(a)(b)		7,668		7,668,000
Viking Cruises Ltd., 5.88%, 09/15/27 (Call 09/15/22)^(a)(b)		12,369		11,023,871
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)(b)		9,333		8,353,035


				32,665,030

Lodging — 2.2%
Boyd Gaming Corp.
4.75%, 12/01/27 (Call 12/01/22)^(a)(b)		15,225		15,074,729
6.00%, 08/15/26 (Call 08/15/21)^(b)		9,448		9,764,004
6.38%, 04/01/26 (Call 04/01/21)^(b)		11,270		11,793,368
Diamond Resorts International Inc.
7.75%, 09/01/23 (Call 09/01/20)^(a)(b)		7,450		7,450,000
10.75%, 09/01/24 (Call 09/01/20)^(a)(b)		9,123		9,157,211
Hilton Domestic Operating Co. Inc.
4.25%, 09/01/24 (Call 09/01/20)		14,417		14,489,085
4.88%, 01/15/30 (Call 01/15/25)^(b)		15,146		15,695,043
5.13%, 05/01/26 (Call 05/01/21)^(b)		23,100		23,713,305
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
4.63%, 04/01/25 (Call 04/01/20)^(b)		11,433		11,475,874
4.88%, 04/01/27 (Call 04/01/22)^(b)		8,431		8,622,015
Marriott Ownership Resorts Inc./ILG LLC, 6.50%, 09/15/26 (Call 09/15/21)^(b)		8,593		9,226,734
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)^(b)		8,922		9,346,555
5.50%, 04/15/27 (Call 01/15/27)		18,306		19,884,892
5.75%, 06/15/25 (Call 03/15/25)^(b)		18,320		20,197,479
6.00%, 03/15/23^(b)		17,401		18,757,789


Security	Par (000)		Value

Lodging (continued)
7.75%, 03/15/22	$	12,942	$	14,139,135
Station Casinos LLC, 4.50%, 02/15/28 (Call 02/15/23)^(a)		8,175		7,776,469
Wyndham Destinations Inc.
3.90%, 03/01/23 (Call 12/01/22)		6,279		6,267,698
4.25%, 03/01/22 (Call 12/01/21)		7,178		7,151,083
5.75%, 04/01/27 (Call 01/01/27)		7,376		7,797,907
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)(b)		6,309		6,324,773
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		12,008		11,647,760
5.50%, 03/01/25 (Call 12/01/24)^(a)(b)		29,849		29,289,331


				295,042,239

Machinery — 0.2%
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 04/15/21)^(a)		9,320		8,854,000
Vertiv Group Corp., 9.25%, 10/15/24 (Call 10/15/20)^(a)		17,027		18,205,030


				27,059,030

Manufacturing — 0.2%
Foxtrot Escrow Issuer LLC/Foxtrot Escrow Corp., 12.25%, 11/15/26 (Call 11/15/22)^(a)(b)		12,342		12,619,695
FXI Holdings Inc., 7.88%, 11/01/24 (Call 11/01/20)^(a)		8,099		7,618,122


				20,237,817

Media — 11.5%
Altice Financing SA
5.00%, 01/15/28 (Call 01/15/23)^(a)(b)		19,048		18,517,513
7.50%, 05/15/26 (Call 05/15/21)^(a)(b)		39,905		42,448,944
Altice Luxembourg SA, 7.63%, 02/15/25 (Call 02/15/21)^(a)(b)		12,335		12,811,769
AMC Networks Inc.
4.75%, 12/15/22 (Call 12/15/20)		12,295		12,379,528
4.75%, 08/01/25 (Call 08/01/21)^(b)		10,513		10,478,307
5.00%, 04/01/24 (Call 04/01/20)^(b)		15,444		15,540,525
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 11/01/20)^(a)(b)		6,386		6,431,979
4.50%, 08/15/30 (Call 02/15/25)^(a)		11,285		11,422,522
4.75%, 03/01/30 (Call 09/01/24)^(a)(b)		57,588		59,092,964
5.00%, 02/01/28 (Call 08/01/22)^(a)(b)		36,341		37,794,640
5.13%, 02/15/23 (Call 02/15/21)		17,986		18,118,197
5.13%, 05/01/23 (Call 05/01/20)^(a)(b)		17,130		17,373,246
5.13%, 05/01/27 (Call 05/01/22)^(a)(b)		51,174		53,220,960
5.25%, 09/30/22 (Call 09/30/20)		17,920		18,116,224
5.38%, 05/01/25 (Call 05/01/20)^(a)(b)		10,109		10,388,008
5.38%, 06/01/29 (Call 06/01/24)^(a)(b)		22,118		23,555,670
5.50%, 05/01/26 (Call 05/01/21)^(a)		22,667		23,602,014
5.75%, 09/01/23 (Call 03/01/20)^(b)		9,120		9,206,640
5.75%, 02/15/26 (Call 02/15/21)^(a)(b)		38,225		39,742,532
5.88%, 04/01/24 (Call 04/01/20)^(a)		25,999		26,706,173
5.88%, 05/01/27 (Call 05/01/21)^(a)(b)		11,539		12,029,408
Clear Channel Worldwide Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)^(a)(b)		17,878		17,895,419
9.25%, 02/15/24 (Call 02/15/21)^(a)(b)		29,665		31,519,062
CSC Holdings LLC
5.25%, 06/01/24^(b)		11,508		12,450,978
5.38%, 07/15/23 (Call 07/15/20)^(a)		14,835		15,145,793
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		13,734		14,339,308
5.50%, 05/15/26 (Call 05/15/21)^(a)		20,705		21,455,556
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		19,193		20,188,637
5.75%, 01/15/30 (Call 01/15/25)^(a)		34,176		36,271,987
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		26,085		28,986,956


Security	Par (000)		Value

Media (continued)
6.63%, 10/15/25 (Call 10/15/20)^(a)(b)	$	11,781	$	12,355,324
6.75%, 11/15/21^(b)		16,035		17,030,509
7.50%, 04/01/28 (Call 04/01/23)^(a)(b)		14,917		16,705,474
7.75%, 07/15/25 (Call 07/15/20)^(a)(b)		8,814		9,273,981
10.88%, 10/15/25 (Call 10/15/20)^(a)		26,228		28,777,362
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(a)		46,006		42,325,520
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		27,302		21,930,525
DISH DBS Corp.
5.00%, 03/15/23^(b)		22,607		23,115,657
5.88%, 07/15/22		29,363		30,638,822
5.88%, 11/15/24^(b)		29,539		30,316,910
6.75%, 06/01/21		31,678		32,882,081
7.75%, 07/01/26^(b)		30,692		32,978,554
Gray Television Inc.
5.13%, 10/15/24 (Call 10/15/20)^(a)(b)		6,464		6,625,600
5.88%, 07/15/26 (Call 07/15/21)^(a)(b)		9,690		9,980,700
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)		12,209		13,224,667
iHeartCommunications Inc.
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		6,722		6,688,390
5.25%, 08/15/27 (Call 08/15/22)^(a)		10,349		10,698,279
6.38%, 05/01/26 (Call 05/01/22)		14,040		15,110,550
8.38%, 05/01/27 (Call 05/01/22)^(b)		22,858		24,794,073
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 (Call 10/15/22)^(a)		19,186		20,140,503
Meredith Corp., 6.88%, 02/01/26 (Call 02/01/21)^(b)		20,588		20,742,410
Nexstar Broadcasting Inc.
5.63%, 08/01/24 (Call 08/01/20)^(a)(b)		11,696		12,029,336
5.63%, 07/15/27 (Call 07/15/22)^(a)		26,506		27,466,842
Quebecor Media Inc., 5.75%, 01/15/23^(b)		12,153		12,968,543
Sinclair Television Group Inc.
5.13%, 02/15/27 (Call 08/15/21)^(a)(b)		5,645		5,558,632
5.50%, 03/01/30 (Call 12/01/24)^(a)(b)		7,558		7,461,636
5.63%, 08/01/24 (Call 08/01/20)^(a)(b)		11,170		11,390,608
Sirius XM Radio Inc.
3.88%, 08/01/22 (Call 08/01/20)^(a)		13,557		13,689,436
4.63%, 05/15/23 (Call 05/15/20)^(a)		6,510		6,561,429
4.63%, 07/15/24 (Call 07/15/21)^(a)(b)		22,985		23,700,983
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		22,761		23,788,204
5.38%, 04/15/25 (Call 04/15/20)^(a)		13,043		13,417,986
5.38%, 07/15/26 (Call 07/15/21)^(a)(b)		13,023		13,495,084
5.50%, 07/01/29 (Call 07/01/24)^(a)(b)		18,862		20,223,836
TEGNA Inc.
4.63%, 03/15/28 (Call 03/15/23)^(a)(b)		15,165		14,703,226
5.00%, 09/15/29 (Call 09/15/24)^(a)(b)		16,777		16,567,288
Telenet Finance Luxembourg Note SARL, 5.50%, 03/01/28 (Call 12/01/22)^(a)		14,500		15,315,625
Univision Communications Inc.
5.13%, 05/15/23 (Call 05/15/20)^(a)(b)		18,695		18,190,235
5.13%, 02/15/25 (Call 02/15/21)^(a)(b)		23,085		21,775,707
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(a)		7,661		7,773,770
ViacomCBS Inc.
5.88%, 02/28/57 (Call 02/28/22)^(b)(c)		10,422		10,579,789
6.25%, 02/28/57 (Call 02/28/27)^(b)(c)		10,572		11,232,750
Videotron Ltd.
5.00%, 07/15/22		9,966		10,298,615
5.13%, 04/15/27 (Call 04/15/22)^(a)(b)		8,188		8,583,890
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		8,590		9,296,012


Security	Par (000)		Value

Media (continued)
Virgin Media Finance PLC, 6.00%, 10/15/24 (Call 10/15/20)^(a)(b)	$	6,450	$	6,598,746
Virgin Media Secured Finance PLC
5.50%, 08/15/26 (Call 08/15/21)^(a)(b)		11,924		12,263,148
5.50%, 05/15/29 (Call 05/15/24)^(a)		20,547		21,009,307
Ziggo Bond Co. BV
5.13%, 02/28/30 (Call 02/15/25)^(a)(b)		2,145		2,135,004
6.00%, 01/15/27 (Call 01/15/22)^(a)(b)		13,695		14,431,106
Ziggo BV
4.88%, 01/15/30 (Call 10/15/24)^(a)(b)		7,868		8,140,437
5.50%, 01/15/27 (Call 01/15/22)^(a)		38,459		40,206,119


				1,544,420,679

Mining — 1.9%
Alcoa Nederland Holding BV
6.13%, 05/15/28 (Call 05/15/23)^(a)(b)		7,371		7,573,703
6.75%, 09/30/24 (Call 09/30/20)^(a)(b)		10,874		11,159,443
7.00%, 09/30/26 (Call 09/30/21)^(a)(b)		6,116		6,467,670
Constellium SE
5.75%, 05/15/24 (Call 05/15/20)^(a)		8,702		8,885,395
5.88%, 02/15/26 (Call 11/15/20)^(a)(b)		8,793		8,935,886
6.63%, 03/01/25 (Call 03/01/20)^(a)(b)		11,026		11,232,737
FMG Resources August 2006 Pty Ltd.
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		9,254		8,999,515
4.75%, 05/15/22 (Call 02/15/22)^(a)(b)		11,533		11,720,411
5.13%, 03/15/23 (Call 12/15/22)^(a)(b)		8,443		8,706,844
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		11,189		11,552,642
Freeport-McMoRan Inc.
3.55%, 03/01/22 (Call 12/01/21)		34,394		34,786,092
3.88%, 03/15/23 (Call 12/15/22)		33,174		33,427,781
4.13%, 03/01/28 (Call 03/01/23)		8,650		8,196,740
4.25%, 03/01/30 (Call 03/01/25)		8,650		8,132,730
4.55%, 11/14/24 (Call 08/14/24)^(b)		15,384		15,576,300
5.00%, 09/01/27 (Call 09/01/22)^(b)		6,637		6,535,454
5.25%, 09/01/29 (Call 09/01/24)^(b)		6,982		7,016,910
Novelis Corp.
4.75%, 01/30/30 (Call 01/30/25)^(a)(b)		23,031		22,627,957
5.88%, 09/30/26 (Call 09/30/21)^(a)(b)		28,687		29,726,904


				261,261,114

Office & Business Equipment — 0.5%
CDW LLC/CDW Finance Corp.
4.25%, 04/01/28 (Call 10/01/22)		8,013		8,156,558
5.00%, 09/01/25 (Call 03/01/20)^(b)		11,866		12,255,205
5.50%, 12/01/24 (Call 06/01/24)^(b)		7,926		8,745,449
Pitney Bowes Inc.
4.63%, 05/15/22 (Call 04/15/22)		1,799		1,819,239
4.63%, 03/15/24 (Call 12/15/23)^(b)		882		840,546
5.20%, 04/01/23 (Call 03/01/23)		3,955		3,890,731
Xerox Corp.
4.13%, 03/15/23 (Call 02/15/23)^(b)		13,142		13,437,695
4.50%, 05/15/21^(b)		14,700		14,958,720


				64,104,143

Oil & Gas — 6.3%
Aker BP ASA
4.75%, 06/15/24 (Call 06/15/21)^(a)		1,039		1,081,241
5.88%, 03/31/25 (Call 03/31/21)^(a)		7,989		8,355,535
6.00%, 07/01/22 (Call 07/01/20)^(a)(b)		3,954		4,071,024
American Energy- Permian Basin LLC, 12.00%, 10/01/24 (Call 10/01/21)^(a)		2,267		1,552,895


Security	Par (000)		Value

Oil & Gas (continued)
Antero Resources Corp.
5.00%, 03/01/25 (Call 03/01/20)^(b)	$	8,906	$	4,546,513
5.13%, 12/01/22 (Call 06/01/20)^(b)		11,829		7,215,690
5.38%, 11/01/21 (Call 11/01/20)^(b)		13,850		11,421,956
5.63%, 06/01/23 (Call 06/01/20)^(b)		11,234		6,066,360
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.00%, 11/01/26 (Call 11/01/21)^(a)		9,773		5,723,313
10.00%, 04/01/22 (Call 04/01/20)^(a)		14,748		12,498,930
California Resources Corp., 8.00%, 12/15/22 (Call 12/15/20)^(a)(b)		28,461		6,353,383
Callon Petroleum Co.
6.13%, 10/01/24 (Call 10/01/20)^(b)		8,882		7,083,395
6.38%, 07/01/26 (Call 07/01/21)^(b)		6,215		4,839,931
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 10/15/21)^(a)(b)		7,997		8,436,835
Chesapeake Energy Corp.
7.00%, 10/01/24 (Call 04/01/21)		991		341,637
11.50%, 01/01/25 (Call 01/01/22)^(a)(b)		37,401		21,412,072
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/21)^(a)		21,410		22,266,400
CNX Resources Corp.
5.88%, 04/15/22 (Call 04/15/20)		13,429		12,356,947
7.25%, 03/14/27 (Call 03/14/22)^(a)(b)		7,687		5,686,535
Comstock Resources Inc.
7.50%, 05/15/25 (Call 05/15/20)^(a)		11,550		8,543,535
9.75%, 08/15/26 (Call 08/15/21)^(b)		10,828		9,048,147
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 10/15/20)^(a)(b)		17,608		16,947,700
CVR Energy Inc.
5.25%, 02/15/25 (Call 02/15/22)^(a)		8,499		7,963,121
5.75%, 02/15/28 (Call 02/15/23)^(a)		6,515		6,213,030
Denbury Resources Inc.
7.75%, 02/15/24 (Call 08/15/20)^(a)		7,666		4,273,795
9.00%, 05/15/21 (Call 12/15/20)^(a)(b)		8,370		7,313,288
9.25%, 03/31/22 (Call 03/31/20)^(a)(b)		8,106		6,201,090
Diamond Offshore Drilling Inc., 7.88%, 08/15/25 (Call 05/15/25)		8,036		5,675,425
Endeavor Energy Resources LP/EER Finance Inc.
5.50%, 01/30/26 (Call 01/30/21)^(a)		7,037		6,924,549
5.75%, 01/30/28 (Call 01/30/23)^(a)(b)		14,906		14,628,748
Extraction Oil & Gas Inc.
5.63%, 02/01/26 (Call 02/01/21)^(a)		12,768		4,468,800
7.38%, 05/15/24 (Call 05/15/20)^(a)		3,828		1,425,930
Gulfport Energy Corp.
6.00%, 10/15/24 (Call 10/15/20)^(b)		10,534		3,553,580
6.38%, 05/15/25 (Call 05/15/20)		6,647		2,185,201
Hilcorp Energy I LP/Hilcorp Finance Co.
5.00%, 12/01/24 (Call 06/01/20)^(a)(b)		7,304		5,770,160
5.75%, 10/01/25 (Call 04/01/20)^(a)(b)		8,236		6,562,419
6.25%, 11/01/28 (Call 11/01/23)^(a)(b)		8,855		6,641,250
Laredo Petroleum Inc.
9.50%, 01/15/25 (Call 01/15/22)		9,970		7,178,400
10.13%, 01/15/28 (Call 01/15/23)^(b)		5,675		4,015,942
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21)^(b)		16,651		14,902,645
MEG Energy Corp.
6.50%, 01/15/25 (Call 01/15/21)^(a)		12,812		12,619,820
7.00%, 03/31/24 (Call 09/30/20)^(a)(b)		12,679		12,013,352
7.13%, 02/01/27 (Call 02/01/23)^(a)		16,940		16,008,300


Security	Par (000)		Value

Oil & Gas (continued)
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 01/15/21)^(a)(b)	$	10,254	$	6,022,687
10.50%, 05/15/27 (Call 05/15/22)^(a)(b)		8,459		5,745,071
Murphy Oil Corp.
4.45%, 12/01/22 (Call 09/01/22)		178		181,836
5.75%, 08/15/25 (Call 08/18/20)^(b)		6,414		6,222,510
5.88%, 12/01/27 (Call 12/01/22)^(b)		8,996		8,789,812
6.88%, 08/15/24 (Call 08/15/20)		9,145		9,138,370
Nabors Industries Inc.
4.63%, 09/15/21^(b)		1,496		1,488,520
5.00%, 09/15/20^(b)		494		495,235
5.50%, 01/15/23 (Call 11/15/22)^(b)		4,437		4,093,133
5.75%, 02/01/25 (Call 11/01/24)^(b)		11,073		7,944,877
Nabors Industries Ltd.
7.25%, 01/15/26 (Call 07/15/22)^(a)(b)		8,260		7,547,575
7.50%, 01/15/28 (Call 01/15/23)^(a)		6,274		5,672,742
Noble Holding International Ltd.
7.88%, 02/01/26 (Call 02/01/21)^(a)(b)		12,837		7,949,389
7.95%, 04/01/25 (Call 01/01/25)^(b)		4,672		1,792,880
Oasis Petroleum Inc.
6.25%, 05/01/26 (Call 05/01/21)^(a)(b)		5,827		3,583,605
6.88%, 03/15/22 (Call 03/30/20)		13,484		10,584,940
Pacific Drilling SA, 8.38%, 10/01/23 (Call 09/01/20)^(a)		11,338		8,837,971
Parkland Fuel Corp.
5.88%, 07/15/27 (Call 07/15/22)^(a)(b)		7,387		7,608,462
6.00%, 04/01/26 (Call 04/01/21)^(a)(b)		6,464		6,690,240
Parsley Energy LLC/Parsley Finance Corp.
4.13%, 02/15/28 (Call 02/15/23)^(a)		4,960		4,650,000
5.25%, 08/15/25 (Call 08/15/20)^(a)		7,483		7,454,939
5.38%, 01/15/25 (Call 01/15/21)^(a)		10,118		10,143,295
5.63%, 10/15/27 (Call 10/15/22)^(a)(b)		10,219		10,150,022
6.25%, 06/01/24 (Call 06/01/20)^(a)		6,215		6,507,727
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		15,865		15,677,476
7.25%, 06/15/25 (Call 06/15/20)^(b)		10,895		11,194,612
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/15/21)^(b)		9,264		8,244,960
6.13%, 09/15/24 (Call 09/15/20)^(b)		6,045		5,636,358
Puma International Financing SA
5.00%, 01/24/26 (Call 01/24/21)^(a)		10,170		9,518,696
5.13%, 10/06/24 (Call 10/06/20)^(a)		9,356		9,060,959
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)^(b)		10,248		9,038,736
5.38%, 10/01/22 (Call 07/01/22)		6,991		6,379,288
5.63%, 03/01/26 (Call 12/01/25)^(b)		7,843		6,235,185
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)^(b)		10,643		6,732,191
5.00%, 08/15/22 (Call 05/15/22)		11,839		9,799,049
5.00%, 03/15/23 (Call 12/15/22)^(b)		11,775		8,533,342
9.25%, 02/01/26 (Call 02/01/22)^(a)		6,850		4,594,980
Seven Generations Energy Ltd.
5.38%, 09/30/25 (Call 09/30/20)^(a)		11,248		10,260,426
6.75%, 05/01/23 (Call 05/01/20)^(a)(b)		4,427		4,383,660
6.88%, 06/30/23 (Call 06/30/20)^(a)		6,391		6,387,006
SM Energy Co.
5.00%, 01/15/24 (Call 07/15/20)		4,999		3,913,217
5.63%, 06/01/25 (Call 06/01/20)^(b)		5,129		3,941,516
6.13%, 11/15/22 (Call 11/15/20)^(b)		6,203		5,604,043
6.63%, 01/15/27 (Call 01/15/22)^(b)		9,481		7,347,775
6.75%, 09/15/26 (Call 09/15/21)^(b)		9,346		7,281,118


Security	Par (000)		Value

Oil & Gas (continued)
Southwestern Energy Co.
6.20%, 01/23/25 (Call 10/23/24)^(b)	$	11,828	$	8,731,193
7.50%, 04/01/26 (Call 04/01/21)^(b)		12,405		9,290,207
7.75%, 10/01/27 (Call 10/01/22)^(b)		6,083		4,607,873
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23 (Call 01/15/21)^(b)		15,092		15,163,687
5.50%, 02/15/26 (Call 02/15/21)^(b)		11,009		11,175,236
5.88%, 03/15/28 (Call 03/15/23)^(b)		7,333		7,555,282
6.00%, 04/15/27 (Call 04/15/22)^(b)		8,220		8,428,856
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)^(a)		10,022		9,923,400
Transocean Inc.
7.25%, 11/01/25 (Call 11/01/21)^(a)(b)		10,835		8,911,787
7.50%, 01/15/26 (Call 01/15/21)^(a)(b)		9,821		8,188,259
8.00%, 02/01/27 (Call 02/01/23)^(a)(b)		12,325		10,286,239
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)^(a)(b)		8,412		8,429,152
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)^(a)(b)		6,951		7,056,655
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/16/21)^(a)(b)		5,722		5,572,570
Valaris PLC
4.88%, 06/01/22 (Call 03/01/22)		8,811		5,727,150
7.75%, 02/01/26 (Call 11/01/25)^(b)		15,813		6,285,668
Whiting Petroleum Corp.
5.75%, 03/15/21 (Call 12/15/20)^(b)		10,653		6,125,475
6.25%, 04/01/23 (Call 01/01/23)		5,021		2,259,450
6.63%, 01/15/26 (Call 10/15/25)^(b)		15,284		5,655,080
WPX Energy Inc.
4.50%, 01/15/30 (Call 01/15/25)^(b)		13,490		12,831,351
5.25%, 09/15/24 (Call 06/15/24)^(b)		9,550		9,523,737
5.25%, 10/15/27 (Call 09/30/22)^(b)		7,701		7,597,037
5.75%, 06/01/26 (Call 06/01/21)		8,093		8,055,368
8.25%, 08/01/23 (Call 06/01/23)		5,655		6,305,325


				845,135,287

Oil & Gas Services — 0.8%
Archrock Partners LP/Archrock Partners Finance Corp.
6.25%, 04/01/28 (Call 04/01/23)^(a)		7,915		7,749,709
6.88%, 04/01/27 (Call 04/01/22)^(a)(b)		7,895		8,002,411
KCA Deutag UK Finance PLC
9.63%, 04/01/23 (Call 04/01/20)^(a)(b)		5,183		3,200,503
9.88%, 04/01/22 (Call 04/01/20)^(a)(b)		7,797		4,855,192
SESI LLC
7.13%, 12/15/21 (Call 03/30/20)^(a)(b)		15,521		12,751,472
7.75%, 09/15/24 (Call 09/15/20)		6,337		3,073,445
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 10/15/20)^(a)(b)		3,294		3,368,319
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 12/01/20)^(a)		3,691		3,692,148
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 04/01/21)^(b)		10,785		10,463,877
6.88%, 09/01/27 (Call 09/01/22)		12,413		12,071,642
Weatherford International Ltd., 11.00%, 12/01/24 (Call 12/01/21)^(a)(b)		32,815		31,124,755


				100,353,473


Security	Par (000)		Value

Packaging & Containers — 3.0%
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)(b)	$	7,571	$	7,552,073
4.25%, 09/15/22 (Call 03/15/20)^(a)(b)		10,876		10,933,969
5.25%, 08/15/27 (Call 08/15/22)^(a)(b)		11,062		11,269,413
6.00%, 02/15/25 (Call 02/15/21)^(a)		25,819		26,916,307
Ball Corp.
4.00%, 11/15/23		15,374		15,921,699
4.88%, 03/15/26 (Call 12/15/25)^(b)		11,411		12,573,496
5.00%, 03/15/22		9,520		9,900,800
5.25%, 07/01/25^(b)		13,395		14,622,652
Berry Global Inc.
4.50%, 02/15/26 (Call 02/15/21)^(a)(b)		6,904		6,813,385
4.88%, 07/15/26 (Call 07/15/22)^(a)(b)		19,511		19,895,367
5.13%, 07/15/23 (Call 07/15/20)^(b)		9,982		9,995,047
5.50%, 05/15/22 (Call 05/15/20)^(b)		6,242		6,270,702
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		6,561		6,823,440
6.00%, 10/15/22 (Call 10/15/20)^(b)		746		757,899
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23		14,141		14,374,326
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)^(b)		5,724		5,917,185
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/21)^(b)		13,156		13,567,125
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 01/15/21)^(a)(b)		9,191		9,016,371
7.88%, 07/15/26 (Call 07/15/21)^(a)(b)		8,240		8,314,675
Graphic Packaging International LLC
3.50%, 03/15/28^(a)		7,100		7,006,848
4.75%, 04/15/21 (Call 01/15/21)^(b)		225		228,802
LABL Escrow Issuer LLC
6.75%, 07/15/26 (Call 07/15/22)^(a)		10,548		11,062,215
10.50%, 07/15/27 (Call 07/15/22)^(a)(b)		10,025		10,375,875
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 04/15/20)^(a)(b)		23,690		23,594,055
7.25%, 04/15/25 (Call 04/15/20)^(a)(b)		20,665		20,028,311
Owens-Brockway Glass Container Inc.
5.00%, 01/15/22^(a)(b)		7,179		7,386,473
5.88%, 08/15/23^(a)(b)		10,535		11,193,964
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.13%, 07/15/23 (Call 07/15/20)^(a)		27,388		27,661,880
7.00%, 07/15/24 (Call 07/15/20)^(a)(b)		10,117		10,293,505
Sealed Air Corp.
4.00%, 12/01/27 (Call 09/01/27)^(a)		7,378		7,359,555
4.88%, 12/01/22 (Call 09/01/22)^(a)(b)		5,115		5,334,945
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		6,123		6,562,847
5.25%, 04/01/23 (Call 01/01/23)^(a)(b)		5,653		5,970,981
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		4,728		5,136,343
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		16,416		17,032,421
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		10,791		11,389,037


				399,053,988

Pharmaceuticals — 4.1%
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 01/17/22)^(a)(b)		26,987		29,685,700
9.25%, 04/01/26 (Call 04/01/22)^(a)(b)		22,170		24,853,494
Bausch Health Companies Inc.
5.00%, 01/30/28 (Call 01/30/23)^(a)		17,087		16,766,619
5.25%, 01/30/30 (Call 01/30/25)^(a)(b)		15,828		15,669,720


Security	Par (000)		Value

Pharmaceuticals (continued)
5.50%, 03/01/23 (Call 03/01/20)^(a)(b)	$	7,750	$	7,763,147
5.50%, 11/01/25 (Call 11/01/20)^(a)(b)		29,054		29,978,960
5.75%, 08/15/27 (Call 08/15/22)^(a)(b)		7,089		7,540,924
5.88%, 05/15/23 (Call 05/15/20)^(a)(b)		345		346,294
6.13%, 04/15/25 (Call 04/15/20)^(a)(b)		49,735		50,742,134
6.50%, 03/15/22 (Call 03/15/20)^(a)		18,450		18,702,765
7.00%, 03/15/24 (Call 03/15/20)^(a)		29,742		30,721,502
7.00%, 01/15/28 (Call 01/15/23)^(a)(b)		11,937		12,773,784
7.25%, 05/30/29 (Call 05/30/24)^(a)		14,728		16,099,545
9.00%, 12/15/25 (Call 12/15/21)^(a)		25,589		28,454,628
Elanco Animal Health Inc.
4.66%, 08/27/21		5,209		5,380,542
5.02%, 08/28/23 (Call 07/28/23)^(b)		10,441		11,176,305
5.65%, 08/28/28 (Call 05/28/28)^(b)		11,027		12,607,307
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 07/15/23 (Call 07/15/20)^(a)(b)		21,532		16,995,423
6.00%, 02/01/25 (Call 02/01/21)^(a)(b)		15,542		11,967,340
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.63%, 10/15/23 (Call 10/15/20)^(a)(b)		6,455		3,756,407
5.75%, 08/01/22 (Call 08/01/20)^(a)(b)		7,093		5,442,265
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)^(a)		25,100		26,505,600
Teva Pharmaceutical Finance Netherlands III BV
2.20%, 07/21/21^(b)		31,373		30,455,208
2.80%, 07/21/23		45,010		41,915,562
3.15%, 10/01/26^(b)		54,538		47,238,361
6.00%, 04/15/24 (Call 01/15/24)		15,036		15,261,540
6.75%, 03/01/28 (Call 12/01/27)^(b)		20,119		21,351,289
7.13%, 01/31/25 (Call 10/31/24)^(a)(b)		11,991		12,629,470


				552,781,835

Pipelines — 3.1%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 09/15/24 (Call 09/15/20)		7,142		5,429,706
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		10,818		7,332,440
5.75%, 01/15/28 (Call 01/15/23)^(a)(b)		9,361		6,365,480
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.13%, 11/15/22 (Call 11/15/20)^(a)(b)		11,588		10,620,981
Buckeye Partners LP
3.95%, 12/01/26 (Call 09/01/26)^(b)		2,000		1,910,058
4.13%, 03/01/25 (Call 02/01/25)^(a)		5,945		5,945,595
4.15%, 07/01/23 (Call 04/01/23)^(b)		539		543,662
4.50%, 03/01/28 (Call 12/01/27)^(a)		5,105		4,939,088
6.38%, 01/22/78 (Call 01/22/23)^(c)		9,177		7,395,132
Cheniere Energy Partners LP
4.50%, 10/01/29 (Call 10/01/24)^(a)(b)		22,811		21,808,913
5.25%, 10/01/25 (Call 10/01/20)^(b)		24,153		24,190,739
5.63%, 10/01/26 (Call 10/01/21)^(b)		14,755		14,828,775
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/01/22)^(a)		10,152		9,415,980
5.75%, 04/01/25 (Call 04/01/20)^(b)		6,438		6,148,290
6.25%, 04/01/23 (Call 04/01/20)		10,183		9,750,732
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)^(b)		6,598		6,552,507
4.75%, 09/30/21 (Call 06/30/21)^(a)(b)		5,131		5,088,413
5.13%, 05/15/29 (Call 02/15/29)^(b)		9,970		9,720,750
5.38%, 07/15/25 (Call 04/15/25)^(b)		12,492		13,105,638
5.85%, 05/21/43 (Call 05/21/23)^(a)(c)		7,550		6,606,250


Security	Par (000)		Value

Pipelines (continued)
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)^(b)	$	10,762	$	9,096,042
4.40%, 04/01/24 (Call 01/01/24)		7,856		7,119,500
4.85%, 07/15/26 (Call 04/15/26)^(b)		9,315		7,962,870
Genesis Energy LP/Genesis Energy Finance Corp.
6.00%, 05/15/23 (Call 05/15/20)^(b)		6,103		5,721,563
6.25%, 05/15/26 (Call 02/15/21)		6,901		5,762,335
6.50%, 10/01/25 (Call 10/01/20)		7,812		6,598,796
7.75%, 02/01/28 (Call 02/01/23)^(b)		11,680		10,050,640
Global Partners LP/GLP Finance Corp., 7.00%, 08/01/27 (Call 08/01/22)		6,872		7,107,744
Hess Midstream Operations LP
5.13%, 06/15/28 (Call 06/15/23)^(a)(b)		8,140		7,956,850
5.63%, 02/15/26 (Call 02/15/21)^(a)(b)		13,153		13,065,401
NGL Energy Partners LP/NGL Energy Finance Corp.
7.50%, 11/01/23 (Call 11/01/20)		9,240		8,547,000
7.50%, 04/15/26 (Call 04/15/22)		7,706		6,742,750
NuStar Logistics LP
5.63%, 04/28/27 (Call 01/28/27)		8,743		8,919,521
6.00%, 06/01/26 (Call 03/01/26)^(b)		6,708		7,009,105
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
4.75%, 10/01/23 (Call 10/01/20)^(a)(b)		5,344		5,135,246
5.50%, 09/15/24 (Call 09/15/20)^(a)(b)		9,395		8,739,229
5.50%, 01/15/28 (Call 01/15/23)^(a)(b)		12,713		11,317,113
6.00%, 03/01/27 (Call 03/01/23)^(a)(b)		6,970		6,612,787
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23 (Call 05/15/20)^(b)		6,966		6,859,420
5.00%, 01/15/28 (Call 01/15/23)^(b)		12,473		12,344,528
5.13%, 02/01/25 (Call 02/01/21)		6,025		6,070,188
5.25%, 05/01/23 (Call 11/01/20)^(b)		7,159		7,171,748
5.38%, 02/01/27 (Call 02/01/22)^(b)		7,160		7,195,800
5.50%, 03/01/30 (Call 03/01/25)^(a)(b)		16,360		16,339,550
5.88%, 04/15/26 (Call 04/15/21)^(b)		14,465		14,700,056
6.50%, 07/15/27 (Call 07/15/22)^(b)		9,956		10,366,685
6.75%, 03/15/24 (Call 09/15/20)^(b)		8,871		9,037,331
6.88%, 01/15/29 (Call 01/15/24)^(b)		10,485		11,310,694


				422,559,621

Real Estate — 0.4%
Howard Hughes Corp. (The), 5.38%, 03/15/25 (Call 03/15/20)^(a)(b)		14,707		15,056,291
Kennedy-Wilson Inc., 5.88%, 04/01/24 (Call 04/01/20)^(b)		16,258		16,565,377
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)(b)		4,976		4,935,570
5.25%, 12/01/21 (Call 12/01/20)^(a)(b)		7,024		7,050,340
9.38%, 04/01/27 (Call 04/01/22)^(a)		8,299		8,506,475


				52,114,053

Real Estate Investment Trusts — 3.4%
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26 (Call 05/15/22)^(a)		16,415		16,230,331
CBL & Associates LP
5.25%, 12/01/23 (Call 09/01/23)		5,013		2,517,905
5.95%, 12/15/26 (Call 09/15/26)^(b)		10,772		4,362,660
Diversified Healthcare Trust, 4.75%, 02/15/28 (Call 08/15/27)^(b)		8,282		8,668,863
Equinix Inc., 5.38%, 05/15/27 (Call 05/15/22)		122		131,370


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
ESH Hospitality Inc.
4.63%, 10/01/27 (Call 10/01/22)^(a)(b)	$	10,839	$	10,540,927
5.25%, 05/01/25 (Call 05/01/20)^(a)(b)		18,480		18,618,600
Iron Mountain Inc.
4.38%, 06/01/21 (Call 06/01/20)^(a)(b)		5,505		5,495,426
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		14,693		14,839,930
4.88%, 09/15/29 (Call 09/15/24)^(a)(b)		14,540		14,380,060
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		12,037		12,461,906
5.75%, 08/15/24 (Call 08/15/20)^(b)		14,993		15,105,447
6.00%, 08/15/23 (Call 08/15/20)		8,486		8,655,720
iStar Inc.
4.25%, 08/01/25 (Call 05/01/25)		8,095		7,992,194
4.75%, 10/01/24 (Call 07/01/24)^(b)		10,411		10,655,763
5.25%, 09/15/22 (Call 09/15/20)		6,092		6,198,610
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.25%, 02/01/27 (Call 02/01/23)^(a)		11,566		10,960,173
5.25%, 03/15/22 (Call 09/15/21)^(a)		7,395		7,545,451
5.25%, 10/01/25 (Call 10/01/20)^(a)		4,917		4,998,539
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
4.50%, 09/01/26 (Call 06/01/26)^(b)		7,768		8,127,270
5.63%, 05/01/24 (Call 02/01/24)^(b)		14,320		15,501,400
5.75%, 02/01/27 (Call 11/01/26)		11,902		13,032,690
MPT Operating Partnership LP/MPT Finance Corp.
4.63%, 08/01/29 (Call 08/01/24)^(b)		12,899		13,576,197
5.00%, 10/15/27 (Call 09/07/22)^(b)		21,052		22,020,603
5.25%, 08/01/26 (Call 08/01/21)^(b)		6,102		6,361,335
6.38%, 03/01/24 (Call 03/01/20)^(b)		8,777		9,062,252
Ryman Hospitality Properties Inc., 4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		9,957		10,079,268
SBA Communications Corp.
3.88%, 02/15/27 (Call 02/15/23)^(a)		9,275		9,471,089
4.00%, 10/01/22 (Call 10/01/20)^(b)		13,237		13,411,818
4.88%, 09/01/24 (Call 09/01/20)^(b)		22,432		23,034,972
Starwood Property Trust Inc.
3.63%, 02/01/21 (Call 11/01/20)		4,254		4,222,095
4.75%, 03/15/25 (Call 09/15/24)^(b)		7,075		7,263,667
5.00%, 12/15/21 (Call 09/15/21)^(b)		8,624		8,640,170
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC
7.13%, 12/15/24 (Call 12/15/20)^(a)(b)		9,586		8,646,872
7.88%, 02/15/25 (Call 02/15/22)^(a)		18,350		18,946,375
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
6.00%, 04/15/23 (Call 04/15/20)^(a)(b)		9,888		9,739,371
8.25%, 10/15/23 (Call 04/15/20)^(b)		19,212		17,867,160
VICI Properties LP/VICI Note Co. Inc.
3.50%, 02/15/25 (Call 02/15/22)^(a)		6,000		6,009,300
3.75%, 02/15/27 (Call 02/15/23)^(a)		5,015		4,987,576
4.13%, 08/15/30 (Call 02/15/25)^(a)		9,565		9,517,175
4.25%, 12/01/26 (Call 12/01/22)^(a)(b)		23,335		23,512,346
4.63%, 12/01/29 (Call 12/01/24)^(a)		18,098		18,720,119
Washington Prime Group LP, 6.45%, 08/15/24 (Call 06/15/24)		90		74,025


				462,185,020

Retail — 3.7%
1011778 BC ULC/New Red Finance Inc.
3.88%, 01/15/28 (Call 09/15/22)^(a)		9,532		9,472,425
4.25%, 05/15/24 (Call 05/15/20)^(a)		22,247		22,334,653


Security	Par (000)		Value

Retail (continued)
4.38%, 01/15/28 (Call 11/15/22)^(a)(b)	$	11,304	$	11,330,169
5.00%, 10/15/25 (Call 10/15/20)^(a)		47,932		48,305,870
Asbury Automotive Group Inc.
4.50%, 03/01/28 (Call 03/01/23)^(a)		1,800		1,799,100
4.75%, 03/01/30 (Call 03/01/25)^(a)		6,800		6,808,500
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 11/01/20)^(a)(b)		20,447		19,859,149
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/15/21)^(a)		13,963		13,681,559
8.50%, 10/30/25 (Call 10/30/21)^(a)		8,101		8,341,600
Ferrellgas LP/Ferrellgas Finance Corp.
6.50%, 05/01/21 (Call 03/30/20)^(b)		7,043		6,039,372
6.75%, 01/15/22 (Call 03/30/20)^(b)		7,819		6,567,960
6.75%, 06/15/23 (Call 06/15/20)^(b)		7,608		6,362,190
Golden Nugget Inc.
6.75%, 10/15/24 (Call 10/15/20)^(a)		19,815		19,462,170
8.75%, 10/01/25 (Call 10/01/20)^(a)(b)		10,066		10,091,165
JC Penney Corp. Inc.
5.88%, 07/01/23 (Call 07/01/20)^(a)		6,680		5,502,650
8.63%, 03/15/25 (Call 03/15/21)^(a)(b)		6,363		3,499,650
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		11,943		12,211,717
5.00%, 06/01/24 (Call 06/01/20)^(a)		17,365		17,595,454
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		16,889		17,311,394
L Brands Inc.
5.25%, 02/01/28^(b)		8,073		7,812,091
5.63%, 02/15/22		11,328		11,899,434
5.63%, 10/15/23		5,231		5,636,403
6.63%, 04/01/21		5,946		6,182,750
7.50%, 06/15/29 (Call 06/15/24)^(b)		7,474		7,885,070
Neiman Marcus Group Ltd. LLC/Neiman Marcus Group LLC/Mariposa Borrower/NMG
8.00%, 10/25/24 (Call 03/30/20)^(a)		9,568		2,827,852
8.75%, 10/25/24 (Call 03/30/20)^(a)(b)		5,429		1,633,548
Penske Automotive Group Inc.
5.50%, 05/15/26 (Call 05/15/21)^(b)		6,761		6,988,248
5.75%, 10/01/22 (Call 10/01/20)^(b)		7,191		7,287,180
PetSmart Inc.
5.88%, 06/01/25 (Call 06/01/20)^(a)		21,001		21,133,306
7.13%, 03/15/23 (Call 03/15/20)^(a)		28,056		27,459,810
8.88%, 06/01/25 (Call 06/01/20)^(a)		9,578		9,563,872
QVC Inc.
4.38%, 03/15/23		12,148		12,626,428
4.45%, 02/15/25 (Call 11/15/24)		9,613		9,823,885
4.75%, 02/15/27 (Call 11/15/26)		8,490		8,372,413
4.85%, 04/01/24		10,295		10,798,855
5.13%, 07/02/22		6,054		6,387,071
Rite Aid Corp.
6.13%, 04/01/23 (Call 04/01/20)^(a)		21,699		19,881,709
7.50%, 07/01/25 (Call 07/01/22)^(a)		6,980		6,982,909
Staples Inc.
7.50%, 04/15/26 (Call 04/15/22)^(a)(b)		28,802		28,774,998
10.75%, 04/15/27 (Call 04/15/22)^(a)(b)		15,742		15,318,934
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 06/01/20)^(b)		6,786		6,718,140
Yum! Brands Inc., 4.75%, 01/15/30 (Call 10/15/29)^(a)(b)		12,373		12,838,349


				501,410,002


Security	Par (000)		Value

Semiconductors — 0.2%
Qorvo Inc.
4.38%, 10/15/29 (Call 10/15/24)^(a)(b)	$	7,945	$	8,183,747
5.50%, 07/15/26 (Call 07/15/21)^(b)		12,015		12,437,568
Sensata Technologies UK Financing Co. PLC, 6.25%, 02/15/26 (Call 02/15/21)^(a)(b)		9,717		10,149,406


				30,770,721

Software — 2.5%
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)		8,969		9,242,555
5.00%, 10/15/24 (Call 07/15/24)^(b)		6,183		6,725,249
5.25%, 05/15/29 (Call 05/15/24)^(a)(b)		7,632		8,086,257
5.88%, 06/15/26 (Call 06/15/21)^(b)		6,721		7,023,445
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 03/01/20)^(a)(b)		15,828		16,006,065
Dun & Bradstreet Corp./The
6.88%, 08/15/26 (Call 02/15/22)^(a)(b)		9,699		10,396,164
10.25%, 02/15/27 (Call 02/15/22)^(a)(b)		9,994		11,249,746
Infor U.S. Inc., 6.50%, 05/15/22 (Call 05/15/20)		24,504		24,597,115
IQVIA Inc.
5.00%, 10/15/26 (Call 10/15/21)^(a)(b)		15,020		15,612,634
5.00%, 05/15/27 (Call 05/15/22)^(a)(b)		16,283		16,832,551
MSCI Inc.
3.63%, 09/01/30 (Call 03/01/25)^(a)		4,115		4,120,144
4.00%, 11/15/29 (Call 11/15/24)^(a)(b)		14,020		14,545,750
4.75%, 08/01/26 (Call 08/01/21)^(a)(b)		6,474		6,722,990
5.38%, 05/15/27 (Call 05/15/22)^(a)		5,277		5,646,390
5.75%, 08/15/25 (Call 08/15/20)^(a)		11,013		11,440,965
Open Text Corp.
3.88%, 02/15/28 (Call 02/15/23)^(a)		6,540		6,458,250
5.63%, 01/15/23 (Call 01/15/21)^(a)		12,163		12,322,943
5.88%, 06/01/26 (Call 06/01/21)^(a)(b)		18,554		19,644,048
Open Text Holdings Inc., 4.13%, 02/15/30 (Call 02/15/25)^(a)(b)		14,540		14,467,300
PTC Inc.
3.63%, 02/15/25 (Call 02/15/22)^(a)		8,225		8,245,563
4.00%, 02/15/28 (Call 02/15/23)^(a)		1,080		1,077,300
Rackspace Hosting Inc., 8.63%, 11/15/24 (Call 11/15/20)^(a)(b)		19,003		18,231,003
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 03/01/20)^(a)(b)		32,506		34,366,968
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)^(a)(b)		30,568		32,087,230
Veritas U.S. Inc./Veritas Bermuda Ltd.
7.50%, 02/01/23 (Call 02/01/21)^(a)(b)		5,189		5,024,681
10.50%, 02/01/24 (Call 02/01/21)^(a)(b)		11,978		10,331,025


				330,504,331

Telecommunications — 10.5%
Altice France SA/France
5.50%, 01/15/28 (Call 09/15/22)^(a)(b)		16,500		16,530,937
7.38%, 05/01/26 (Call 05/01/21)^(a)		76,978		81,115,567
8.13%, 02/01/27 (Call 02/01/22)^(a)(b)		26,828		29,393,427
CenturyLink Inc.
4.00%, 02/15/27 (Call 02/15/23)^(a)(b)		18,908		19,073,899
5.13%, 12/15/26 (Call 12/15/22)^(a)(b)		22,886		23,114,860
5.63%, 04/01/25 (Call 01/01/25)		6,202		6,481,090
Series S, 6.45%, 06/15/21		18,059		18,724,055
Series T, 5.80%, 03/15/22^(b)		19,916		20,768,106
Series W, 6.75%, 12/01/23		9,881		10,866,235
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(b)		13,347		14,911,402


Security	Par (000)		Value

Telecommunications (continued)
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 09/15/20)^(a)(b)	$	9,615	$	10,110,812
CommScope Inc.
5.00%, 06/15/21 (Call 03/10/20)^(a)		52		52,000
5.50%, 03/01/24 (Call 03/01/21)^(a)(b)		17,282		17,586,163
5.50%, 06/15/24 (Call 06/15/20)^(a)		9,322		8,856,832
6.00%, 03/01/26 (Call 03/01/22)^(a)(b)		22,138		22,886,264
8.25%, 03/01/27 (Call 03/01/22)^(a)(b)		15,171		15,246,855
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)^(a)(b)		11,550		10,395,000
6.00%, 06/15/25 (Call 06/15/20)^(a)(b)		22,171		20,785,312
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(a)		30,261		30,705,837
Front Range BidCo Inc.
4.00%, 03/01/27 (Call 03/01/21)^(a)		31,165		30,502,744
6.13%, 03/01/28 (Call 03/01/23)^(a)		8,110		8,010,247
Frontier Communications Corp.
6.88%, 01/15/25 (Call 10/15/24)		11,382		5,356,654
7.13%, 01/15/23		12,244		5,724,070
7.63%, 04/15/24		10,341		4,709,033
8.00%, 04/01/27 (Call 04/01/22)^(a)		23,990		24,949,600
8.50%, 04/01/26 (Call 04/01/21)^(a)(b)		22,792		23,076,900
8.75%, 04/15/22		7,450		3,428,467
10.50%, 09/15/22 (Call 06/15/22)		32,194		14,728,755
11.00%, 09/15/25 (Call 06/15/25)		52,522		23,894,884
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(b)		11,783		12,917,114
6.63%, 08/01/26^(b)		11,894		13,126,813
7.63%, 06/15/21		11,478		12,114,455
Intelsat Connect Finance SA, 9.50%, 02/15/23 (Call 08/15/20)^(a)		18,430		10,919,775
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 08/01/20)^(b)		29,735		25,720,775
8.00%, 02/15/24 (Call 02/15/21)^(a)		19,120		19,598,000
8.50%, 10/15/24 (Call 10/15/20)^(a)		44,020		38,700,623
9.50%, 09/30/22^(a)(b)		6,972		7,902,135
9.75%, 07/15/25 (Call 07/15/21)^(a)		28,159		24,984,073
Intelsat Luxembourg SA, 8.13%, 06/01/23 (Call 06/01/20)^(b)		13,804		5,573,365
Intrado Corp., 8.50%, 10/15/25 (Call 10/15/20)^(a)(b)		16,953		11,697,570
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(a)(c)		11,974		12,961,855
Level 3 Financing Inc.
4.63%, 09/15/27 (Call 09/15/22)^(a)(b)		16,324		16,609,670
5.13%, 05/01/23 (Call 05/01/20)^(b)		9,417		9,440,543
5.25%, 03/15/26 (Call 03/15/21)^(b)		9,826		10,096,215
5.38%, 08/15/22 (Call 03/30/20)		13,493		13,559,520
5.38%, 01/15/24 (Call 01/15/21)		11,986		12,000,982
5.38%, 05/01/25 (Call 05/01/20)^(b)		10,683		10,932,382
5.63%, 02/01/23 (Call 03/30/20)^(b)		8,857		8,890,214
Nokia OYJ
3.38%, 06/12/22^(b)		5,476		5,478,738
4.38%, 06/12/27^(b)		7,244		7,648,157
Qwest Corp., 6.75%, 12/01/21^(b)		12,320		13,028,400
Sprint Communications Inc.
6.00%, 11/15/22		34,552		37,060,475
11.50%, 11/15/21		15,488		17,695,040
Sprint Corp.
7.13%, 06/15/24		36,624		41,689,557
7.25%, 09/15/21		33,285		35,242,105


Security	Par/ Shares (000)		Value

Telecommunications (continued)
7.25%, 02/01/28 (Call 10/01/27)^(a)(b)	$	11,200	$	11,240,880
7.63%, 02/15/25 (Call 11/15/24)		25,438		29,490,591
7.63%, 03/01/26 (Call 11/01/25)		24,623		29,063,389
7.88%, 09/15/23		62,642		71,568,485
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)		24,699		26,374,005
Telefonaktiebolaget LM Ericsson, 4.13%, 05/15/22^(b)		12,772		13,180,704
T-Mobile USA Inc.
4.00%, 04/15/22 (Call 03/16/22)		7,163		7,308,925
4.50%, 02/01/26 (Call 02/01/21)		14,586		14,829,569
4.75%, 02/01/28 (Call 02/01/23)		22,213		23,143,169
5.13%, 04/15/25 (Call 04/15/20)		8,113		8,351,279
5.38%, 04/15/27 (Call 04/15/22)		7,908		8,343,558
6.00%, 03/01/23 (Call 09/01/20)		18,229		18,456,862
6.00%, 04/15/24 (Call 04/15/20)		14,232		14,530,160
6.38%, 03/01/25 (Call 09/01/20)		25,547		26,313,410
6.50%, 01/15/24 (Call 01/15/21)^(b)		14,954		15,295,400
6.50%, 01/15/26 (Call 01/15/21)		29,673		31,238,251
ViaSat Inc.
5.63%, 09/15/25 (Call 09/15/20)^(a)(b)		10,776		10,650,190
5.63%, 04/15/27 (Call 04/15/22)^(a)(b)		8,276		8,400,140
Vodafone Group PLC, 7.00%, 04/04/79 (Call 01/04/29)^(b)(c)		29,865		34,494,075
Ypso Finance Bis SA
6.00%, 02/15/28 (Call 02/15/23)^(a)(b)		18,360		17,631,108
10.50%, 05/15/27^(a)		33,439		37,953,265


				1,415,431,973

Toys, Games & Hobbies — 0.2%
Mattel Inc.
5.88%, 12/15/27 (Call 12/15/22)^(a)(b)		8,252		8,629,529
6.75%, 12/31/25 (Call 12/31/20)^(a)(b)		22,750		23,909,113


				32,538,642

Transportation — 0.3%
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., 7.38%, 01/15/22 (Call 01/15/21)^(a)		8,927		4,485,818
XPO Logistics Inc.
6.13%, 09/01/23 (Call 09/01/20)^(a)(b)		8,675		8,858,042
6.50%, 06/15/22 (Call 06/15/20)^(a)(b)		18,415		18,461,037
6.75%, 08/15/24 (Call 08/15/21)^(a)(b)		13,611		14,376,619


				46,181,516

Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(a)(b)(c)		8,446		9,058,335
Fortress Transportation & Infrastructure Investors LLC
6.50%, 10/01/25 (Call 10/01/21)^(a)		6,146		6,465,643
6.75%, 03/15/22 (Call 03/15/20)^(a)		9,228		9,251,331

				24,775,309


Total Corporate Bonds & Notes — 97.6% (Cost: $13,718,354,088)				13,141,749,386


Short-Term Investments

Money Market Funds — 17.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.74%^(f)(g)(h)		2,092,281		2,093,745,759


Security	Shares (000)		Value


Money Market Funds (continued)
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.52%^(f)(g)		256,613	$	256,613,000

				2,350,358,759


Total Short-Term Investments — 17.5% (Cost: $2,348,894,162)				2,350,358,759


Total Investments in Securities — 115.1% (Cost: $16,067,248,250)				15,492,108,145

Other Assets, Less Liabilities — (15.1)%				(2,035,808,631	)


Net Assets — 100.0%			$	13,456,299,514

^(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.

Investments in issuers considered to be affiliates of the Fund during the year ended February 29, 2020, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of February 29, 2020. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.1%
Omnicom Group Inc./Omnicom Capital Inc.
3.60%, 04/15/26 (Call 01/15/26)^(a)	$	13,954	$	15,278,313
3.65%, 11/01/24 (Call 08/01/24)^(a)		10,689		11,647,703


				26,926,016

Aerospace & Defense — 1.7%
Boeing Co. (The)
2.70%, 02/01/27 (Call 12/01/26)^(a)		10,182		10,526,496
2.95%, 02/01/30 (Call 11/01/29)^(a)		9,051		9,499,292
3.20%, 03/01/29 (Call 12/01/28)^(a)		11,096		11,832,252
3.25%, 02/01/35 (Call 11/01/34)^(a)		9,227		9,831,840
3.60%, 05/01/34 (Call 02/01/34)		10,800		11,993,332
3.75%, 02/01/50 (Call 08/01/49)^(a)		12,394		13,645,095
3.90%, 05/01/49 (Call 11/01/48)^(a)		6,548		7,349,896
3.95%, 08/01/59 (Call 02/01/59)^(a)		9,869		10,956,860
General Dynamics Corp.
3.38%, 05/15/23 (Call 04/15/23)^(a)		8,006		8,514,383
3.50%, 05/15/25 (Call 03/15/25)^(a)		8,475		9,289,715
3.75%, 05/15/28 (Call 02/15/28)^(a)		6,110		6,925,358
L3Harris Technologies Inc.
4.40%, 06/15/28 (Call 03/15/28)		7,372		8,531,344
4.40%, 06/15/28 (Call 03/15/28)^(b)		8,876		10,271,868
Lockheed Martin Corp.
2.90%, 03/01/25 (Call 12/01/24)^(a)		2,873		3,066,915
3.55%, 01/15/26 (Call 10/15/25)^(a)		17,536		19,442,012
3.80%, 03/01/45 (Call 09/01/44)		9,955		11,836,116
4.07%, 12/15/42^(a)		15,339		18,716,884
4.09%, 09/15/52 (Call 03/15/52)^(a)		15,713		20,030,351
4.70%, 05/15/46 (Call 11/15/45)^(a)		14,332		19,270,384
Northrop Grumman Corp.
2.93%, 01/15/25 (Call 11/15/24)^(a)		21,064		22,284,090
3.20%, 02/01/27 (Call 11/01/26)^(a)		3,960		4,245,758
3.25%, 08/01/23^(a)		3,517		3,738,521
3.25%, 01/15/28 (Call 10/15/27)^(a)		30,140		32,474,177
4.03%, 10/15/47 (Call 04/15/47)^(a)		21,374		25,531,974
4.75%, 06/01/43		9,291		11,919,025
Rockwell Collins Inc.
3.20%, 03/15/24 (Call 01/15/24)		6,771		7,243,928
3.50%, 03/15/27 (Call 12/15/26)^(a)		10,983		12,217,735
4.35%, 04/15/47 (Call 10/15/46)^(a)		10,078		12,943,310
United Technologies Corp.
3.13%, 05/04/27 (Call 02/04/27)^(a)		11,368		12,367,049
3.65%, 08/16/23 (Call 07/16/23)		18,013		19,465,450
3.75%, 11/01/46 (Call 05/01/46)		10,140		11,834,436
3.95%, 08/16/25 (Call 06/16/25)^(a)		14,951		16,709,088
4.13%, 11/16/28 (Call 08/16/28)^(a)		31,666		37,022,883
4.15%, 05/15/45 (Call 11/16/44)		6,600		8,131,107
4.45%, 11/16/38 (Call 05/16/38)^(a)		7,980		10,027,621
4.50%, 06/01/42		37,771		48,473,613
4.63%, 11/16/48 (Call 05/16/48)		19,118		25,632,380
5.70%, 04/15/40		11,845		17,282,595
6.13%, 07/15/38^(a)		12,147		18,004,014


				579,079,147

Agriculture — 1.6%
Altria Group Inc.
3.80%, 02/14/24 (Call 01/14/24)^(a)		10,845		11,642,867
3.88%, 09/16/46 (Call 03/16/46)^(a)		14,427		14,073,364
4.00%, 01/31/24^(a)		14,829		16,016,745
4.25%, 08/09/42		8,077		8,291,020


Security	Par (000)		Value

Agriculture (continued)
4.40%, 02/14/26 (Call 12/14/25)^(a)	$	17,011	$	19,011,431
4.80%, 02/14/29 (Call 11/14/28)		33,174		37,835,574
5.38%, 01/31/44^(a)		18,144		21,372,611
5.80%, 02/14/39 (Call 08/14/38)		20,409		25,072,650
5.95%, 02/14/49 (Call 08/14/48)^(a)		26,021		33,030,925
AgricultureArcher-Daniels-Midland Co., 2.50%, 08/11/26 (Call 05/11/26)^(a)		11,527		11,999,766
BAT Capital Corp.
2.79%, 09/06/24 (Call 08/06/24)^(a)		10,800		11,166,002
3.22%, 08/15/24 (Call 06/15/24)		23,260		24,408,497
3.22%, 09/06/26 (Call 07/06/26)^(a)		8,510		8,910,842
3.56%, 08/15/27 (Call 05/15/27)^(a)		35,857		37,657,882
4.39%, 08/15/37 (Call 02/15/37)^(a)		25,090		26,529,253
4.54%, 08/15/47 (Call 02/15/47)		26,046		27,116,066
4.76%, 09/06/49 (Call 03/06/49)^(a)		11,099		11,961,559
Philip Morris International Inc.
2.75%, 02/25/26 (Call 11/25/25)^(a)		9,021		9,497,142
2.88%, 05/01/24 (Call 04/01/24)		13,224		13,891,545
3.25%, 11/10/24^(a)		5,404		5,772,478
3.38%, 08/11/25 (Call 05/11/25)^(a)		5,669		6,147,811
3.38%, 08/15/29 (Call 05/15/29)^(a)		8,919		9,715,501
3.88%, 08/21/42^(a)		7,658		8,385,970
4.13%, 03/04/43		9,035		10,240,700
4.25%, 11/10/44		13,062		15,120,791
4.38%, 11/15/41		6,778		7,854,105
4.88%, 11/15/43^(a)		6,069		7,524,644
6.38%, 05/16/38^(a)		16,265		23,365,417
Reynolds American Inc.
4.45%, 06/12/25 (Call 03/12/25)^(a)		35,180		38,999,809
5.70%, 08/15/35 (Call 02/15/35)		8,052		9,772,200
5.85%, 08/15/45 (Call 02/15/45)^(a)		23,183		27,686,771


				540,071,938

Airlines — 0.0%
AirlinesDelta Air Lines Inc., 2.90%, 10/28/24 (Call 09/28/24)^(a)		5,152		5,273,052


Apparel — 0.1%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		11,058		11,647,736
3.88%, 11/01/45 (Call 05/01/45)^(a)		8,986		11,019,167


			22,666,903

Auto Manufacturers — 1.5%
Auto ManufacturersAmerican Honda Finance Corp., 2.15%, 09/10/24^(a)		1,202		1,230,183
Auto ManufacturersDaimler Finance North America LLC, 8.50%, 01/18/31		14,278		21,769,447
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(a)		12,837		12,905,365
4.75%, 01/15/43^(a)		20,443		17,976,292
5.29%, 12/08/46 (Call 06/08/46)^(a)		13,880		12,728,038
7.45%, 07/16/31		19,258		21,830,499
Ford Motor Credit Co. LLC
3.10%, 05/04/23		9,080		9,082,979
3.66%, 09/08/24		12,544		12,447,534
3.81%, 01/09/24 (Call 11/09/23)		9,586		9,746,384
3.82%, 11/02/27 (Call 08/02/27)^(a)		10,605		10,076,122
4.06%, 11/01/24 (Call 10/01/24)		6,288		6,380,024
4.13%, 08/04/25^(a)		18,892		19,105,591
4.14%, 02/15/23 (Call 01/15/23)		7,455		7,684,640
4.27%, 01/09/27 (Call 11/09/26)^(a)		4,650		4,599,836


Security	Par (000)		Value

Auto Manufacturers (continued)
4.38%, 08/06/23	$	6,679	$	6,929,092
4.39%, 01/08/26^(a)		16,817		16,986,016
4.54%, 08/01/26 (Call 06/01/26)		656		663,946
5.11%, 05/03/29 (Call 02/03/29)^(a)		17,766		17,893,697
5.58%, 03/18/24 (Call 02/18/24)^(a)		17,074		18,332,854
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)^(a)		9,130		9,621,053
4.88%, 10/02/23		3,645		3,965,297
5.00%, 10/01/28 (Call 07/01/28)^(a)		7,497		8,228,389
5.00%, 04/01/35		7,654		8,196,793
5.15%, 04/01/38 (Call 10/01/37)^(a)		9,828		10,193,161
5.20%, 04/01/45		13,381		13,362,267
5.40%, 04/01/48 (Call 10/01/47)^(a)		6,683		6,846,523
5.95%, 04/01/49 (Call 10/01/48)^(a)		10,108		11,013,440
6.25%, 10/02/43^(a)		15,687		17,651,361
6.60%, 04/01/36 (Call 10/01/35)^(a)		12,441		14,833,898
6.75%, 04/01/46 (Call 10/01/45)^(a)		7,555		8,933,840
General Motors Financial Co. Inc.
2.90%, 02/26/25 (Call 01/26/25)^(a)		6,530		6,599,027
3.50%, 11/07/24 (Call 09/07/24)^(a)		11,409		12,009,387
3.70%, 05/09/23 (Call 03/09/23)		6,412		6,727,134
3.95%, 04/13/24 (Call 02/13/24)^(a)		11,344		12,101,818
4.00%, 01/15/25 (Call 10/15/24)		14,433		15,337,124
4.00%, 10/06/26 (Call 07/06/26)^(a)		9,754		10,306,707
4.15%, 06/19/23 (Call 05/19/23)^(a)		7,810		8,271,204
4.30%, 07/13/25 (Call 04/13/25)^(a)		9,659		10,378,108
4.35%, 04/09/25 (Call 02/09/25)		12,873		13,851,867
4.35%, 01/17/27 (Call 10/17/26)^(a)		12,869		13,883,708
5.10%, 01/17/24 (Call 12/17/23)		10,505		11,516,826
5.25%, 03/01/26 (Call 12/01/25)^(a)		16,971		18,972,865
Auto ManufacturersToyota Motor Corp., 3.42%, 07/20/23^(a)		3,618		3,858,876
Toyota Motor Credit Corp.
2.15%, 02/13/30		10,000		10,110,557
3.20%, 01/11/27^(a)		5,460		5,951,904
3.45%, 09/20/23		7,222		7,727,548


				508,819,221

Banks — 24.2%
BanksAustralia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25^(a)		11,427		12,739,671
Banco Santander SA
2.71%, 06/27/24		11,790		12,266,882
3.31%, 06/27/29^(a)		12,478		13,440,464
3.80%, 02/23/28		10,919		11,917,478
3.85%, 04/12/23		14,125		15,052,250
4.25%, 04/11/27^(a)		10,452		11,724,097
4.38%, 04/12/28^(a)		10,707		12,243,101
Bank of America Corp.
2.02%, 02/13/26 (Call 02/13/25)^(c)		10,000		10,062,625
2.46%, 10/22/25 (Call 10/22/24)^(c)		15,710		16,135,721
2.50%, 02/13/31 (Call 02/13/30)^(c)		12,000		12,192,005
2.88%, 10/22/30 (Call 10/22/29)^(c)		21,515		22,538,860
3.09%, 10/01/25 (Call 10/01/24)^(a)(c)		21,434		22,604,927
3.19%, 07/23/30 (Call 07/23/29)^(c)		26,290		28,222,914
3.25%, 10/21/27 (Call 10/21/26)		17,189		18,449,579
3.37%, 01/23/26 (Call 01/23/25)^(c)		24,127		25,787,017
3.42%, 12/20/28 (Call 12/20/27)^(a)(c)		59,001		63,845,183
3.46%, 03/15/25 (Call 03/15/24)^(a)(c)		27,640		29,383,680
3.50%, 04/19/26^(a)		26,734		29,222,596
3.55%, 03/05/24 (Call 03/05/23)^(a)(c)		10,729		11,308,680


Security	Par (000)		Value

Banks (continued)
3.56%, 04/23/27 (Call 04/23/26)^(a)(c)	$	30,240	$	32,793,568
3.59%, 07/21/28 (Call 07/21/27)^(c)		20,201		22,050,874
3.71%, 04/24/28 (Call 04/24/27)^(a)(c)		20,245		22,246,145
3.82%, 01/20/28 (Call 01/20/27)^(a)(c)		22,617		24,937,968
3.86%, 07/23/24 (Call 07/23/23)^(c)		19,406		20,747,143
3.88%, 08/01/25^(a)		18,209		20,136,954
3.95%, 01/23/49 (Call 01/23/48)^(c)		11,400		13,740,413
3.97%, 03/05/29 (Call 03/05/28)^(a)(c)		30,872		34,703,169
3.97%, 02/07/30 (Call 02/07/29)^(a)(c)		31,767		35,934,243
4.00%, 04/01/24^(a)		21,812		23,721,403
4.00%, 01/22/25^(a)		25,192		27,466,059
4.08%, 04/23/40 (Call 04/23/39)^(a)(c)		14,975		17,821,027
4.10%, 07/24/23		11,980		12,982,520
4.13%, 01/22/24^(a)		23,141		25,233,888
4.20%, 08/26/24^(a)		19,988		21,858,463
4.24%, 04/24/38 (Call 04/24/37)^(a)(c)		19,658		23,730,475
4.25%, 10/22/26^(a)		13,696		15,410,732
4.27%, 07/23/29 (Call 07/23/28)^(a)(c)		31,716		36,445,959
4.33%, 03/15/50 (Call 03/15/49)^(a)(c)		25,741		32,804,845
4.44%, 01/20/48 (Call 01/20/47)^(a)(c)		20,813		26,831,279
4.45%, 03/03/26^(a)		20,508		23,182,912
5.00%, 01/21/44		20,952		28,347,989
5.88%, 02/07/42^(a)		16,416		24,199,453
6.11%, 01/29/37^(a)		19,582		27,545,813
7.75%, 05/14/38^(a)		16,640		27,126,520
Series L, 3.95%, 04/21/25^(a)		27,721		30,253,970
Series L, 4.18%, 11/25/27 (Call 11/25/26)^(a)		12,874		14,325,567
BanksBank of America N.A., 6.00%, 10/15/36		7,279		10,286,564
Bank of Montreal
2.50%, 06/28/24^(a)		11,721		12,160,178
Series E, 3.30%, 02/05/24^(a)		10,220		10,872,861
Bank of New York Mellon Corp. (The) 2.10%, 10/24/24^(a)		6,496		6,654,412
2.20%, 08/16/23 (Call 06/16/23)^(a)		13,622		13,953,188
2.45%, 08/17/26 (Call 05/17/26)^(a)		13,023		13,654,480
2.80%, 05/04/26 (Call 02/04/26)^(a)		11,392		12,089,734
3.25%, 05/16/27 (Call 02/16/27)^(a)		5,876		6,389,201
3.30%, 08/23/29 (Call 05/23/29)^(a)		7,163		7,819,657
3.40%, 01/29/28 (Call 10/29/27)^(a)		3,132		3,447,285
3.45%, 08/11/23^(a)		11,818		12,617,326
3.50%, 04/28/23^(a)		7,837		8,360,330
3.85%, 04/28/28^(a)		39		44,823
Series 0012, 3.65%, 02/04/24 (Call 01/05/24)^(a)		8,695		9,405,510
Series G, 3.00%, 02/24/25 (Call 01/24/25)^(a)		11,873		12,695,789
Bank of Nova Scotia (The)
2.20%, 02/03/25^(a)		17,180		17,504,413
2.70%, 08/03/26^(a)		18,039		18,946,098
3.40%, 02/11/24		2,190		2,329,692
4.50%, 12/16/25^(a)		14,218		16,036,309
Barclays PLC
3.65%, 03/16/25		32,981		35,117,595
3.93%, 05/07/25 (Call 05/07/24)^(a)(c)		12,322		13,117,326
4.34%, 05/16/24 (Call 05/16/23)^(c)		6,561		6,987,072
4.34%, 01/10/28 (Call 01/10/27)^(a)		14,393		15,760,629
4.38%, 09/11/24^(a)		14,048		15,021,840
4.38%, 01/12/26		29,089		32,210,837
4.84%, 05/09/28 (Call 05/07/27)^(a)		14,471		15,922,417
4.95%, 01/10/47^(a)		15,704		19,409,363
4.97%, 05/16/29 (Call 05/16/28)^(a)(c)		22,451		25,951,879
5.20%, 05/12/26		17,533		19,712,306


Security	Par (000)		Value

Banks (continued)
5.25%, 08/17/45^(a)	$	16,044	$	20,205,114
BNP Paribas SA
3.25%, 03/03/23^(a)		11,175		11,751,576
4.25%, 10/15/24		7,545		8,199,944
BanksBPCE SA, 4.00%, 04/15/24^(a)		10,108		11,050,640
Canadian Imperial Bank of Commerce
2.25%, 01/28/25^(a)		3,740		3,804,801
3.10%, 04/02/24		11,740		12,389,358
3.50%, 09/13/23		13,826		14,836,253
BanksCitibank N.A., 3.65%, 01/23/24 (Call 12/23/23)^(a)		24,994		26,882,252
Citigroup Inc.
2.67%, 01/29/31 (Call 01/29/30)^(c)		2,555		2,614,554
2.98%, 11/05/30 (Call 11/05/29)^(c)		18,351		19,262,263
3.20%, 10/21/26 (Call 07/21/26)^(a)		36,799		39,430,232
3.30%, 04/27/25^(a)		23,974		25,775,485
3.35%, 04/24/25 (Call 04/24/24)^(a)(c)		24,681		26,126,428
3.40%, 05/01/26^(a)		23,632		25,613,186
3.50%, 05/15/23^(a)		7,590		8,006,067
3.52%, 10/27/28 (Call 10/27/27)^(c)		25,238		27,477,115
3.67%, 07/24/28 (Call 07/24/27)^(a)(c)		30,249		33,203,217
3.70%, 01/12/26^(a)		22,982		25,227,479
3.88%, 10/25/23^(a)		13,349		14,408,465
3.88%, 03/26/25		17,421		18,905,870
3.88%, 01/24/39 (Call 01/24/38)^(a)(c)		14,558		16,949,766
3.89%, 01/10/28 (Call 01/10/27)^(c)		34,053		37,720,334
3.98%, 03/20/30 (Call 03/20/29)^(a)(c)		26,744		30,210,057
4.00%, 08/05/24^(a)		8,982		9,751,966
4.04%, 06/01/24 (Call 06/01/23)^(c)		4,927		5,272,533
4.08%, 04/23/29 (Call 04/23/28)^(a)(c)		11,122		12,588,611
4.13%, 07/25/28^(a)		20,018		22,237,342
4.28%, 04/24/48 (Call 04/24/47)^(a)(c)		13,215		16,526,001
4.30%, 11/20/26^(a)		9,155		10,143,106
4.40%, 06/10/25^(a)		31,834		35,444,720
4.45%, 09/29/27		32,856		37,086,947
4.60%, 03/09/26^(a)		18,809		21,327,136
4.65%, 07/30/45^(a)		13,896		18,065,717
4.65%, 07/23/48 (Call 06/23/48)		28,818		38,134,744
4.75%, 05/18/46^(a)		19,251		24,303,764
5.30%, 05/06/44		6,608		8,849,601
5.50%, 09/13/25^(a)		17,459		20,497,985
5.88%, 01/30/42^(a)		12,336		18,203,643
6.63%, 06/15/32^(a)		12,138		17,043,391
6.68%, 09/13/43^(a)		10,029		15,528,560
8.13%, 07/15/39^(a)		17,815		31,074,068
BanksCitizens Financial Group Inc., 4.30%, 12/03/25 (Call 11/03/25)		9,843		11,033,959
Cooperatieve Rabobank UA
3.75%, 07/21/26^(a)		16,454		17,795,294
4.38%, 08/04/25		17,492		19,388,860
4.63%, 12/01/23^(a)		7,787		8,534,048
5.25%, 05/24/41^(a)		17,620		25,226,684
5.25%, 08/04/45^(a)		12,022		16,150,667
5.75%, 12/01/43^(a)		12,747		17,856,022
BanksCooperatieve Rabobank UA/NY, 3.38%, 05/21/25		14,714		16,053,117
BanksCredit Suisse AG/New York NY, 3.63%, 09/09/24		35,886		38,592,992
Credit Suisse Group Funding Guernsey Ltd.
3.75%, 03/26/25^(a)		24,862		26,856,370
3.80%, 06/09/23^(a)		19,058		20,231,655
4.55%, 04/17/26		14,206		16,022,641


Security	Par (000)		Value

Banks (continued)
4.88%, 05/15/45^(a)	$	20,580	$	26,738,530
BanksDeutsche Bank AG/London, 3.70%, 05/30/24^(a)		5,491		5,763,427
Deutsche Bank AG/New York NY
3.70%, 05/30/24^(a)		12,714		13,259,670
3.95%, 02/27/23		8,557		8,915,857
3.96%, 11/26/25 (Call 11/26/24)^(c)		18,218		19,171,135
Discover Bank
2.45%, 09/12/24 (Call 08/12/24)^(a)		7,252		7,418,985
3.35%, 02/06/23 (Call 01/06/23)		4,183		4,379,104
3.45%, 07/27/26 (Call 04/27/26)^(a)		10,742		11,512,611
4.20%, 08/08/23^(a)		3,861		4,165,316
4.65%, 09/13/28 (Call 06/13/28)^(a)		9,902		11,490,902
Fifth Third Bancorp.
2.38%, 01/28/25 (Call 12/28/24)^(a)		11,681		12,003,418
3.65%, 01/25/24 (Call 12/25/23)		13,445		14,421,941
4.30%, 01/16/24 (Call 12/16/23)^(a)		9,457		10,267,936
8.25%, 03/01/38		11,352		18,857,257
Fifth Third Bank/Cincinnati OH
3.85%, 03/15/26 (Call 02/15/26)^(a)		2,104		2,321,187
3.95%, 07/28/25 (Call 06/28/25)^(a)		6,955		7,789,415
Goldman Sachs Group Inc. (The)
3.27%, 09/29/25 (Call 09/29/24)^(a)(c)		30,020		31,805,322
3.50%, 01/23/25 (Call 10/23/24)		31,841		34,127,910
3.50%, 11/16/26 (Call 11/16/25)^(a)		26,116		28,117,196
3.63%, 02/20/24 (Call 01/20/24)^(a)		16,099		17,184,589
3.69%, 06/05/28 (Call 06/05/27)^(a)(c)		30,914		33,818,516
3.75%, 05/22/25 (Call 02/22/25)		30,790		33,438,953
3.75%, 02/25/26 (Call 11/25/25)^(a)		20,902		22,886,764
3.81%, 04/23/29 (Call 04/23/28)^(a)(c)		26,104		28,826,757
3.85%, 07/08/24 (Call 04/08/24)^(a)		25,593		27,630,981
3.85%, 01/26/27 (Call 01/26/26)		31,280		34,317,335
4.00%, 03/03/24^(a)		26,126		28,394,565
4.02%, 10/31/38 (Call 10/31/37)^(c)		26,625		30,502,117
4.22%, 05/01/29 (Call 05/01/28)^(c)		40,165		45,570,072
4.25%, 10/21/25^(a)		24,331		26,653,881
4.41%, 04/23/39 (Call 04/23/38)^(c)		15,947		19,093,343
4.75%, 10/21/45 (Call 04/21/45)		19,223		24,807,989
4.80%, 07/08/44 (Call 01/08/44)		19,829		25,195,324
5.15%, 05/22/45^(a)		18,651		23,960,026
5.95%, 01/15/27		9,122		11,175,361
6.13%, 02/15/33		7,086		9,828,129
6.25%, 02/01/41		23,351		34,345,097
6.75%, 10/01/37		59,948		86,303,617
HSBC Holdings PLC
2.63%, 11/07/25 (Call 11/07/24)^(a)(c)		16,035		16,383,687
3.60%, 05/25/23^(a)		18,399		19,460,490
3.80%, 03/11/25 (Call 03/11/24)^(a)(c)		17,415		18,592,625
3.90%, 05/25/26		29,596		32,328,078
3.95%, 05/18/24 (Call 05/18/23)^(a)(c)		5,118		5,440,924
3.97%, 05/22/30 (Call 05/22/29)^(c)		34,114		37,234,401
4.04%, 03/13/28 (Call 03/13/27)^(a)(c)		27,944		30,446,271
4.25%, 03/14/24^(a)		10,499		11,271,727
4.25%, 08/18/25^(a)		21,880		23,716,279
4.29%, 09/12/26 (Call 09/12/25)^(c)		23,761		26,168,165
4.30%, 03/08/26^(a)		35,626		39,621,203
4.38%, 11/23/26^(a)		16,152		17,685,834
4.58%, 06/19/29 (Call 06/19/28)^(c)		29,606		33,501,255
5.25%, 03/14/44^(a)		13,622		17,154,908
6.10%, 01/14/42		8,472		12,076,479
6.50%, 05/02/36^(a)		21,264		28,954,547


Security	Par (000)		Value

Banks (continued)
6.50%, 09/15/37	$	25,572	$	35,005,564
6.80%, 06/01/38		16,482		23,414,166
BanksHSBC USA Inc., 3.50%, 06/23/24^(a)		6,551		7,106,955
BanksHuntington Bancshares Inc./OH, 2.63%, 08/06/24 (Call 07/06/24)		12,329		12,801,045
BanksHuntington National Bank (The), 3.55%, 10/06/23 (Call 09/06/23)^(a)		6,227		6,688,853
ING Groep NV
3.55%, 04/09/24^(a)		6,429		6,864,684
3.95%, 03/29/27		15,648		17,352,666
4.05%, 04/09/29^(a)		11,440		12,989,021
4.10%, 10/02/23		8,681		9,374,615
4.55%, 10/02/28^(a)		17,170		20,122,929
JPMorgan Chase & Co.
2.30%, 10/15/25 (Call 10/15/24)^(c)		21,897		22,371,348
2.70%, 05/18/23 (Call 03/18/23)^(a)		13,704		14,174,894
2.74%, 10/15/30 (Call 10/15/29)^(a)(c)		42,989		44,740,772
2.95%, 10/01/26 (Call 07/01/26)		35,670		38,009,738
3.13%, 01/23/25 (Call 10/23/24)		28,825		30,690,776
3.20%, 06/15/26 (Call 03/15/26)^(a)		20,491		22,110,482
3.22%, 03/01/25 (Call 03/01/24)^(c)		23,971		25,333,670
3.30%, 04/01/26 (Call 01/01/26)^(a)		27,261		29,550,515
3.38%, 05/01/23		21,196		22,266,722
3.51%, 01/23/29 (Call 01/23/28)^(a)(c)		28,411		30,971,019
3.54%, 05/01/28 (Call 05/01/27)^(a)(c)		25,857		28,377,080
3.56%, 04/23/24 (Call 04/23/23)^(a)(c)		8,244		8,733,422
3.63%, 05/13/24^(a)		22,524		24,340,277
3.63%, 12/01/27 (Call 12/01/26)^(a)		5,996		6,507,184
3.70%, 05/06/30 (Call 05/06/29)^(c)		30,389		33,897,061
3.78%, 02/01/28 (Call 02/01/27)^(a)(c)		18,950		20,977,885
3.80%, 07/23/24 (Call 07/23/23)^(a)(c)		15,626		16,706,830
3.88%, 02/01/24^(a)		17,068		18,550,219
3.88%, 09/10/24		22,908		24,924,195
3.88%, 07/24/38 (Call 07/24/37)^(c)		28,220		32,252,819
3.90%, 07/15/25 (Call 04/15/25)^(a)		33,637		37,077,073
3.90%, 01/23/49 (Call 01/23/48)^(c)		18,910		22,621,027
3.96%, 01/29/27 (Call 01/29/26)^(a)(c)		26,231		29,169,276
3.96%, 11/15/48 (Call 11/15/47)^(c)		37,364		44,922,917
4.01%, 04/23/29 (Call 04/23/28)^(a)(c)		30,766		34,706,977
4.02%, 12/05/24 (Call 12/05/23)^(a)(c)		25,987		28,148,692
4.03%, 07/24/48 (Call 07/24/47)^(a)(c)		15,369		18,635,111
4.13%, 12/15/26		12,151		13,706,576
4.20%, 07/23/29 (Call 07/23/28)^(a)(c)		27,306		31,444,702
4.25%, 10/01/27		9,731		11,029,414
4.26%, 02/22/48 (Call 02/22/47)^(c)		20,459		25,734,232
4.45%, 12/05/29 (Call 12/05/28)^(c)		24,661		28,794,248
4.85%, 02/01/44^(a)		10,713		14,345,165
4.95%, 06/01/45^(a)		12,462		16,702,800
5.40%, 01/06/42		14,748		20,680,398
5.50%, 10/15/40		12,920		18,007,141
5.60%, 07/15/41^(a)		18,389		26,113,117
5.63%, 08/16/43^(a)		9,778		13,953,678
6.40%, 05/15/38^(a)		27,418		41,211,321
BanksKeyBank N.A./Cleveland OH, 3.30%, 06/01/25		7,566		8,181,196
KeyCorp.
2.25%, 04/06/27		745		763,408
2.55%, 10/01/29^(a)		8,191		8,366,326
4.10%, 04/30/28^(a)		10,535		11,994,419
Lloyds Banking Group PLC 2.44%, 02/05/26 (Call 02/05/25)^(c)		11,020		11,168,118


Security	Par (000)		Value

Banks (continued)
3.57%, 11/07/28 (Call 11/07/27)^(a)(c)	$	26,962	$	28,812,928
3.75%, 01/11/27^(a)		15,342		16,614,334
3.90%, 03/12/24^(a)		10,280		11,046,414
4.05%, 08/16/23		13,836		14,852,979
4.34%, 01/09/48^(a)		9,696		10,961,062
4.38%, 03/22/28		17,884		20,292,406
4.45%, 05/08/25^(a)		21,288		23,755,643
4.50%, 11/04/24^(a)		9,699		10,539,284
4.55%, 08/16/28^(a)		13,546		15,589,761
4.58%, 12/10/25^(a)		17,264		18,857,947
4.65%, 03/24/26^(a)		12,605		13,950,830
5.30%, 12/01/45^(a)		8,282		10,601,974
BanksManufacturers & Traders Trust Co., 2.90%, 02/06/25 (Call 01/06/25)^(a)		11,976		12,727,037
Mitsubishi UFJ Financial Group Inc.
2.19%, 02/25/25		4,500		4,548,858
2.76%, 09/13/26^(a)		16,592		17,350,543
2.80%, 07/18/24^(a)		12,530		13,031,343
3.20%, 07/18/29^(a)		21,513		23,026,048
3.29%, 07/25/27^(a)		12,287		13,231,942
3.41%, 03/07/24		17,431		18,526,812
3.46%, 03/02/23^(a)		20,374		21,522,806
3.68%, 02/22/27^(a)		12,040		13,417,547
3.74%, 03/07/29		17,935		20,035,900
3.75%, 07/18/39^(a)		17,765		20,483,741
3.76%, 07/26/23^(a)		3,331		3,562,221
3.78%, 03/02/25		6,914		7,523,444
3.85%, 03/01/26^(a)		29,935		33,610,832
3.96%, 03/02/28^(a)		9,768		11,128,425
4.05%, 09/11/28		8,950		10,340,884
Mizuho Financial Group Inc.
2.23%, 05/25/26 (Call 05/25/25)^(c)		4,690		4,743,914
2.84%, 09/13/26^(a)		13,930		14,651,680
3.15%, 07/16/30 (Call 07/16/29)^(a)(c)		8,020		8,527,164
3.17%, 09/11/27		3,314		3,583,335
3.55%, 03/05/23^(a)		4,230		4,483,110
3.92%, 09/11/24 (Call 09/11/23)^(c)		5,269		5,644,669
4.02%, 03/05/28^(a)		14,145		16,044,883
4.25%, 09/11/29 (Call 09/11/28)^(a)(c)		15,474		17,696,121
Morgan Stanley
2.70%, 01/22/31 (Call 01/22/30)^(a)(c)		29,375		30,286,218
2.72%, 07/22/25 (Call 07/22/24)^(a)(c)		24,640		25,587,250
3.13%, 07/27/26^(a)		39,126		41,686,495
3.59%, 07/22/28 (Call 07/22/27)^(a)(c)		21,374		23,383,654
3.63%, 01/20/27^(a)		28,829		31,556,235
3.70%, 10/23/24^(a)		29,533		32,059,965
3.74%, 04/24/24 (Call 04/24/23)^(c)		16,314		17,316,768
3.77%, 01/24/29 (Call 01/24/28)^(a)(c)		32,182		35,736,592
3.88%, 01/27/26^(a)		32,469		35,918,266
3.95%, 04/23/27^(a)		18,659		20,468,128
3.97%, 07/22/38 (Call 07/22/37)^(c)		20,930		24,352,204
4.00%, 07/23/25^(a)		37,609		41,754,742
4.10%, 05/22/23^(a)		17,417		18,619,647
4.30%, 01/27/45^(a)		26,593		32,979,604
4.35%, 09/08/26^(a)		21,818		24,508,519
4.38%, 01/22/47^(a)		23,291		29,525,381
4.43%, 01/23/30 (Call 01/23/29)^(a)(c)		28,346		33,057,655
4.46%, 04/22/39 (Call 04/22/38)^(a)(c)		8,639		10,636,678
5.00%, 11/24/25^(a)		21,055		24,291,777
6.38%, 07/24/42		20,736		32,096,417


Security	Par (000)		Value

Banks (continued)
7.25%, 04/01/32	$	15,826	$	23,664,162
Series F, 3.88%, 04/29/24^(a)		34,311		37,248,893
National Australia Bank Ltd./New York
2.50%, 07/12/26		16,863		17,549,134
3.38%, 01/14/26^(a)		8,363		9,098,866
3.63%, 06/20/23		7,275		7,815,757
BanksNorthern Trust Corp., 3.95%, 10/30/25		9,885		11,163,601
PNC Bank N.A.
2.70%, 10/22/29^(a)		6,712		6,969,811
2.95%, 02/23/25 (Call 01/24/25)		8,997		9,554,225
3.10%, 10/25/27 (Call 09/25/27)^(a)		13,114		14,108,206
3.25%, 06/01/25 (Call 05/02/25)^(a)		5,882		6,317,122
3.50%, 06/08/23 (Call 05/09/23)		8,235		8,765,634
3.80%, 07/25/23 (Call 06/25/23)^(a)		3,260		3,499,435
4.05%, 07/26/28^(a)		12,096		13,748,035
PNC Financial Services Group Inc. (The)
2.55%, 01/22/30 (Call 10/24/29)		22,802		23,538,149
2.60%, 07/23/26 (Call 05/23/26)^(a)		12,609		13,294,400
3.15%, 05/19/27 (Call 04/19/27)^(a)		7,915		8,498,103
3.45%, 04/23/29 (Call 01/23/29)^(a)		17,810		19,591,508
3.50%, 01/23/24 (Call 12/23/23)		6,669		7,108,258
3.90%, 04/29/24 (Call 03/29/24)		6,306		6,857,392
BanksRegions Financial Corp., 3.80%, 08/14/23 (Call 07/14/23)^(a)		7,857		8,454,698
Royal Bank of Canada
2.25%, 11/01/24^(a)		17,560		17,973,849
2.55%, 07/16/24^(a)		11,835		12,320,139
3.70%, 10/05/23		9,212		9,909,716
4.65%, 01/27/26^(a)		16,357		18,857,930
Royal Bank of Scotland Group PLC
3.88%, 09/12/23^(a)		21,801		23,192,357
4.27%, 03/22/25 (Call 03/22/24)^(a)(c)		32,184		34,662,120
4.45%, 05/08/30 (Call 05/08/29)^(a)(c)		11,499		13,082,557
4.52%, 06/25/24 (Call 06/25/23)^(c)		5,147		5,545,682
4.80%, 04/05/26		14,280		16,323,694
4.89%, 05/18/29 (Call 05/18/28)^(a)(c)		21,126		24,437,340
5.08%, 01/27/30 (Call 01/27/29)^(a)(c)		16,242		19,224,012
5.13%, 05/28/24		24,003		26,264,123
6.00%, 12/19/23		16,972		19,069,016
6.10%, 06/10/23		2,528		2,800,146
Santander Holdings USA Inc.
3.24%, 10/05/26 (Call 08/05/26)		5,301		5,525,821
3.50%, 06/07/24 (Call 05/07/24)		13,040		13,690,693
4.40%, 07/13/27 (Call 04/14/27)^(a)		14,090		15,577,168
4.50%, 07/17/25 (Call 04/17/25)^(a)		12,626		13,866,372
Santander UK Group Holdings PLC
3.82%, 11/03/28 (Call 11/03/27)^(a)(c)		13,524		14,675,287
4.80%, 11/15/24 (Call 11/15/23)^(c)		8,893		9,713,830
Santander UK PLC
2.88%, 06/18/24		7,353		7,661,819
4.00%, 03/13/24^(a)		2,214		2,405,902
State Street Corp.
2.40%, 01/24/30^(a)		3,070		3,160,547
2.65%, 05/19/26^(a)		13,731		14,455,435
3.10%, 05/15/23^(a)		11,639		12,253,652
3.30%, 12/16/24		2		2,165
3.55%, 08/18/25		16,092		17,702,505
3.70%, 11/20/23^(a)		6,575		7,174,515
Sumitomo Mitsui Financial Group Inc. 2.35%, 01/15/25		5,325		5,451,156


Security	Par (000)		Value

Banks (continued)
2.45%, 09/27/24^(a)	$	7,397	$	7,612,624
2.63%, 07/14/26^(a)		21,009		21,796,243
2.70%, 07/16/24^(a)		24,675		25,648,925
2.75%, 01/15/30		15,330		15,773,708
3.01%, 10/19/26^(a)		12,704		13,539,757
3.04%, 07/16/29^(a)		31,854		33,821,491
3.35%, 10/18/27^(a)		6,422		6,968,969
3.36%, 07/12/27		22,413		24,183,280
3.45%, 01/11/27^(a)		15,437		16,947,936
3.54%, 01/17/28^(a)		10,464		11,635,714
3.75%, 07/19/23^(a)		7,503		8,035,510
3.78%, 03/09/26^(a)		14,410		15,918,560
3.94%, 10/16/23^(a)		1,293		1,399,909
3.94%, 07/19/28^(a)		2,703		3,055,153
BanksSvenska Handelsbanken AB, 3.90%, 11/20/23		6,688		7,252,787
Toronto-Dominion Bank (The)
2.65%, 06/12/24^(a)		20,373		21,330,936
3.25%, 03/11/24		4,717		5,041,093
3.50%, 07/19/23^(a)		14,343		15,359,940
Truist Bank
2.15%, 12/06/24 (Call 11/05/24)		9,877		10,115,549
3.20%, 04/01/24 (Call 03/01/24)^(a)		11,084		11,762,105
3.30%, 05/15/26 (Call 04/15/26)^(a)		6,908		7,485,000
3.63%, 09/16/25 (Call 08/16/25)		14,920		16,386,341
3.80%, 10/30/26 (Call 09/30/26)		9,391		10,485,298
Truist Financial Corp.
2.50%, 08/01/24 (Call 07/01/24)^(a)		12,629		13,069,702
2.85%, 10/26/24 (Call 09/26/24)^(a)		13,175		13,869,407
3.70%, 06/05/25 (Call 05/05/25)^(a)		15,319		16,911,713
3.75%, 12/06/23 (Call 11/06/23)^(a)		7,774		8,397,929
4.00%, 05/01/25 (Call 03/01/25)^(a)		4,114		4,547,898
U.S. Bancorp.
2.40%, 07/30/24 (Call 06/28/24)^(a)		9,703		10,071,241
3.00%, 07/30/29 (Call 04/30/29)^(a)		10,175		10,806,034
3.10%, 04/27/26 (Call 03/27/26)^(a)		15,208		16,326,897
3.38%, 02/05/24 (Call 01/05/24)^(a)		16,115		17,259,025
3.60%, 09/11/24 (Call 08/11/24)^(a)		8,509		9,246,873
3.70%, 01/30/24 (Call 12/29/23)^(a)		7,722		8,365,160
3.90%, 04/26/28 (Call 03/24/28)^(a)		8,690		10,052,250
3.95%, 11/17/25 (Call 10/17/25)		10,768		12,192,754
Series V, 2.38%, 07/22/26 (Call 06/22/26)^(a)		14,027		14,679,884
Series X, 3.15%, 04/27/27 (Call 03/27/27)^(a)		7,661		8,334,512
U.S. Bank N.A./Cincinnati OH
2.05%, 01/21/25 (Call 12/20/24)		6,525		6,679,957
2.80%, 01/27/25 (Call 12/27/24)^(a)		18,434		19,523,123
3.40%, 07/24/23 (Call 06/23/23)		11,307		12,035,313
BanksWachovia Corp., 5.50%, 08/01/35		9,809		13,161,823
Wells Fargo & Co.
2.16%, 02/11/26 (Call 02/11/25)^(c)		10,000		10,125,672
2.41%, 10/30/25 (Call 10/30/24)^(c)		31,084		31,827,511
2.57%, 02/11/31 (Call 02/11/30)^(c)		30,000		30,599,100
2.88%, 10/30/30 (Call 10/30/29)^(a)(c)		31,061		32,287,717
3.00%, 02/19/25^(a)		30,413		32,113,047
3.00%, 04/22/26^(a)		41,189		43,673,220
3.00%, 10/23/26^(a)		35,885		38,113,746
3.20%, 06/17/27 (Call 06/17/26)^(a)(c)		29,371		31,335,077
3.30%, 09/09/24^(a)		20,732		22,100,760
3.55%, 09/29/25^(a)		28,308		30,838,110
3.58%, 05/22/28 (Call 05/22/27)^(a)(c)		41,998		45,704,840
3.75%, 01/24/24 (Call 12/24/23)^(a)		34,331		36,966,251


Security	Par (000)		Value

Banks (continued)
3.90%, 05/01/45^(a)	$	21,949	$	26,122,111
4.10%, 06/03/26		28,608		31,886,708
4.13%, 08/15/23^(a)		12,522		13,495,320
4.15%, 01/24/29 (Call 10/24/28)^(a)		30,002		34,515,621
4.30%, 07/22/27^(a)		26,453		29,915,449
4.40%, 06/14/46		19,530		23,299,347
4.65%, 11/04/44		19,018		23,524,572
4.75%, 12/07/46^(a)		20,687		26,094,791
4.90%, 11/17/45		19,914		25,514,243
5.38%, 02/07/35		9,464		12,803,977
5.38%, 11/02/43		19,873		26,709,827
5.61%, 01/15/44		22,441		30,913,501
Wells Fargo Bank N.A.
3.55%, 08/14/23 (Call 07/14/23)^(a)		19,825		21,124,515
5.85%, 02/01/37^(a)		9,951		13,994,519
6.60%, 01/15/38^(a)		17,481		26,582,079
Westpac Banking Corp.
2.35%, 02/19/25^(a)		8,649		8,934,379
2.65%, 01/16/30^(a)		9,487		9,902,095
2.70%, 08/19/26^(a)		12,664		13,333,465
2.85%, 05/13/26^(a)		21,110		22,350,810
3.30%, 02/26/24^(a)		15,144		16,206,403
3.35%, 03/08/27^(a)		10,299		11,270,259
3.40%, 01/25/28^(a)		10,029		11,183,009
3.65%, 05/15/23^(a)		9,786		10,473,987
4.42%, 07/24/39^(a)		8,457		9,954,576


				7,995,095,831

Beverages — 3.2%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)		47,051		51,407,029
4.70%, 02/01/36 (Call 08/01/35)		54,212		64,844,600
4.90%, 02/01/46 (Call 08/01/45)		99,410		122,273,604
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23^(a)		1		517
3.65%, 02/01/26 (Call 11/01/25)		6,844		7,504,616
3.70%, 02/01/24		10,307		11,117,150
4.00%, 01/17/43^(a)		8,759		9,646,878
4.63%, 02/01/44^(a)		10,241		12,126,843
4.90%, 02/01/46 (Call 08/01/45)^(a)		13,465		16,470,147
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42^(a)		7,756		8,290,639
4.00%, 04/13/28 (Call 01/13/28)^(a)		29,567		33,352,738
4.15%, 01/23/25 (Call 12/23/24)^(a)		37,604		41,824,304
4.38%, 04/15/38 (Call 10/15/37)		14,337		16,599,120
4.44%, 10/06/48 (Call 04/06/48)^(a)		17,982		20,986,663
4.60%, 04/15/48 (Call 10/15/47)^(a)		26,988		32,339,054
4.75%, 01/23/29 (Call 10/23/28)^(a)		39,904		47,278,798
4.75%, 04/15/58 (Call 10/15/57)^(a)		16,590		20,211,771
4.90%, 01/23/31 (Call 10/23/30)		9,431		11,468,616
4.95%, 01/15/42^(a)		14,263		17,526,675
5.45%, 01/23/39 (Call 07/23/38)		20,345		26,431,681
5.55%, 01/23/49 (Call 07/23/48)^(a)		44,923		60,977,698
5.80%, 01/23/59 (Call 07/23/58)^(a)		21,691		30,705,560
8.20%, 01/15/39		8,955		14,705,226
Coca-Cola Co. (The)
1.75%, 09/06/24^(a)		7,225		7,353,164
2.13%, 09/06/29^(a)		11,936		12,184,165
2.25%, 09/01/26^(a)		11,874		12,409,219
2.50%, 04/01/23^(a)		6,234		6,485,336


Security	Par (000)		Value

Beverages (continued)
2.88%, 10/27/25^(a)	$	18,297	$	19,765,975
3.20%, 11/01/23^(a)		11,936		12,760,447
Constellation Brands Inc.
3.15%, 08/01/29 (Call 05/01/29)^(a)		9,185		9,632,383
4.25%, 05/01/23^(a)		8,997		9,697,022
Diageo Capital PLC
2.38%, 10/24/29 (Call 07/24/29)^(a)		7,606		7,898,893
2.63%, 04/29/23 (Call 01/29/23)^(a)		10,824		11,228,377
Keurig Dr Pepper Inc.
4.06%, 05/25/23 (Call 04/25/23)^(a)		19,827		21,268,736
4.42%, 05/25/25 (Call 03/25/25)		7,948		8,909,683
4.60%, 05/25/28 (Call 02/25/28)^(a)		20,997		24,222,332
5.09%, 05/25/48 (Call 11/25/47)		7,444		9,494,328
Molson Coors Beverage Co.
3.00%, 07/15/26 (Call 04/15/26)^(a)		24,445		25,635,995
4.20%, 07/15/46 (Call 01/15/46)^(a)		18,307		18,983,530
5.00%, 05/01/42^(a)		10,450		11,852,413
PepsiCo Inc.
2.38%, 10/06/26 (Call 07/06/26)^(a)		12,601		13,271,904
2.63%, 07/29/29 (Call 04/29/29)^(a)		14,503		15,461,676
2.75%, 03/01/23^(a)		2,438		2,547,190
2.75%, 04/30/25 (Call 01/30/25)^(a)		10,543		11,217,848
2.85%, 02/24/26 (Call 11/24/25)^(a)		8,654		9,310,990
2.88%, 10/15/49 (Call 04/15/49)		12,768		13,507,289
3.00%, 10/15/27 (Call 07/15/27)^(a)		11,701		12,767,548
3.38%, 07/29/49 (Call 01/29/49)		12,257		14,057,646
3.45%, 10/06/46 (Call 04/06/46)^(a)		13,251		15,151,139
3.60%, 03/01/24 (Call 12/01/23)^(a)		4,690		5,083,838
4.00%, 03/05/42		7,826		9,589,544
4.00%, 05/02/47 (Call 11/02/46)^(a)		9,116		11,403,593
4.45%, 04/14/46 (Call 10/14/45)^(a)		12,840		16,956,048


				1,058,198,178

Biotechnology — 1.4%
Amgen Inc.
2.20%, 02/21/27 (Call 12/21/26)		870		884,346
2.25%, 08/19/23 (Call 06/19/23)^(a)		3,434		3,519,815
2.45%, 02/21/30 (Call 11/21/29)		13,590		13,814,242
2.60%, 08/19/26 (Call 05/19/26)^(a)		14,363		15,000,541
3.13%, 05/01/25 (Call 02/01/25)		8,953		9,564,377
3.15%, 02/21/40 (Call 08/21/39)		15,000		15,314,292
3.20%, 11/02/27 (Call 08/02/27)^(a)		7,183		7,764,959
3.38%, 02/21/50 (Call 08/21/49)^(a)		14,280		14,607,323
3.63%, 05/22/24 (Call 02/22/24)^(a)		10,121		10,925,471
4.40%, 05/01/45 (Call 11/01/44)^(a)		22,590		26,720,952
4.56%, 06/15/48 (Call 12/15/47)^(a)		13,719		16,727,456
4.66%, 06/15/51 (Call 12/15/50)		36,821		45,651,372
5.15%, 11/15/41 (Call 05/15/41)		10,960		14,213,483
BiotechnologyBaxalta Inc., 4.00%, 06/23/25 (Call 03/23/25)^(a)		9,154		10,122,373
Biogen Inc.
4.05%, 09/15/25 (Call 06/15/25)		20,458		22,920,443
5.20%, 09/15/45 (Call 03/15/45)^(a)		17,153		22,127,411
Gilead Sciences Inc.
2.50%, 09/01/23 (Call 07/01/23)^(a)		8,216		8,501,855
2.95%, 03/01/27 (Call 12/01/26)^(a)		11,075		11,834,443
3.50%, 02/01/25 (Call 11/01/24)^(a)		11,486		12,458,046
3.65%, 03/01/26 (Call 12/01/25)^(a)		32,183		35,520,783
3.70%, 04/01/24 (Call 01/01/24)^(a)		9,010		9,679,942
4.00%, 09/01/36 (Call 03/01/36)^(a)		7,141		8,348,772
4.15%, 03/01/47 (Call 09/01/46)^(a)		20,548		24,725,647


Security	Par (000)		Value

Biotechnology (continued)
4.50%, 02/01/45 (Call 08/01/44)	$	20,436	$	25,336,536
4.60%, 09/01/35 (Call 03/01/35)		8,069		10,087,017
4.75%, 03/01/46 (Call 09/01/45)		24,781		31,839,419
4.80%, 04/01/44 (Call 10/01/43)^(a)		17,830		22,841,608
5.65%, 12/01/41 (Call 06/01/41)^(a)		10,078		14,241,464


				465,294,388

Building Materials — 0.2%
Carrier Global Corp.
2.24%, 02/15/25 (Call 01/15/25)^(b)		11,938		12,172,714
2.49%, 02/15/27 (Call 12/15/26)^(b)		3,270		3,329,418
2.72%, 02/15/30 (Call 11/15/29)^(b)		20,000		20,214,276
3.38%, 04/05/40 (Call 10/05/39)^(b)		15,000		15,424,213
3.58%, 04/05/50 (Call 10/05/49)^(b)		20,000		20,593,658


				71,734,279

Chemicals — 1.2%
Dow Chemical Co. (The)
3.50%, 10/01/24 (Call 07/01/24)^(a)		7,107		7,628,647
3.63%, 05/15/26 (Call 03/15/26)^(a)		10,835		11,796,834
4.38%, 11/15/42 (Call 05/15/42)^(a)		10,189		11,205,656
4.80%, 05/15/49 (Call 11/15/48)		8,798		10,290,170
5.25%, 11/15/41 (Call 05/15/41)		8,739		10,559,488
5.55%, 11/30/48 (Call 05/30/48)^(a)		5,838		7,403,215
7.38%, 11/01/29		10,113		13,884,201
9.40%, 05/15/39^(a)		10,153		17,407,042
DuPont de Nemours Inc.
4.21%, 11/15/23 (Call 10/15/23)^(a)		28,121		30,761,762
4.49%, 11/15/25 (Call 09/15/25)		24,084		27,141,327
4.73%, 11/15/28 (Call 08/15/28)		26,570		30,868,468
5.32%, 11/15/38 (Call 05/15/38)^(a)		14,938		18,168,101
5.42%, 11/15/48 (Call 05/15/48)^(a)		22,298		28,053,914
ChemicalsEastman Chemical Co., 4.65%, 10/15/44 (Call 04/15/44)^(a)		8,695		9,950,809
ChemicalsEcolab Inc., 2.70%, 11/01/26 (Call 08/01/26)		10,755		11,412,733
LYB International Finance BV
4.00%, 07/15/23		8,563		9,212,358
4.88%, 03/15/44 (Call 09/15/43)^(a)		7,814		8,974,195
5.25%, 07/15/43		11,221		13,460,782
ChemicalsLYB International Finance II BV, 3.50%, 03/02/27 (Call 12/02/26)^(a)		10,113		10,873,952
ChemicalsLYB International Finance III LLC, 4.20%, 10/15/49 (Call 04/15/49)^(a)		11,397		12,009,242
LyondellBasell Industries NV
4.63%, 02/26/55 (Call 08/26/54)^(a)		9,059		9,854,021
5.75%, 04/15/24 (Call 01/15/24)^(a)		7,400		8,495,720
ChemicalsMosaic Co. (The), 4.25%, 11/15/23 (Call 08/15/23)^(a)		7,844		8,511,195
Nutrien Ltd.
4.20%, 04/01/29 (Call 01/01/29)^(a)		8,873		10,136,225
5.00%, 04/01/49 (Call 10/01/48)^(a)		6,835		8,551,759
ChemicalsRohm & Haas Co., 7.85%, 07/15/29		6,440		8,866,695
Sherwin-Williams Co. (The)
2.95%, 08/15/29 (Call 05/15/29)		9,024		9,438,942
3.45%, 06/01/27 (Call 03/01/27)^(a)		15,400		16,788,382
4.50%, 06/01/47 (Call 12/01/46)^(a)		13,427		16,145,981


				397,851,816

Commercial Services — 0.4%
Global Payments Inc.
2.65%, 02/15/25 (Call 01/15/25)^(a)		10,255		10,593,267
3.20%, 08/15/29 (Call 05/15/29)		11,790		12,493,485


Security	Par (000)		Value

Commercial Services (continued)
4.15%, 08/15/49 (Call 02/15/49)	$	8,818	$	10,136,617
4.80%, 04/01/26 (Call 01/01/26)^(a)		8,561		9,857,342
IHS Markit Ltd.
4.25%, 05/01/29 (Call 02/01/29)^(a)		10,982		12,502,430
4.75%, 08/01/28 (Call 05/01/28)		8,493		9,949,467
PayPal Holdings Inc.
2.40%, 10/01/24 (Call 09/01/24)^(a)		16,991		17,453,065
2.65%, 10/01/26 (Call 08/01/26)^(a)		16,085		16,674,298
2.85%, 10/01/29 (Call 07/01/29)^(a)		11,319		11,893,714
Commercial ServicesRELX Capital Inc., 4.00%, 03/18/29 (Call 12/18/28)^(a)		6,532		7,460,393
Commercial ServicesS&P Global Inc., 4.40%, 02/15/26 (Call 11/15/25)^(a)		1,939		2,232,733


				121,246,811

Computers — 3.5%
Apple Inc.
1.80%, 09/11/24 (Call 08/11/24)		7,693		7,821,895
2.05%, 09/11/26 (Call 07/11/26)		21,115		21,646,646
2.20%, 09/11/29 (Call 06/11/29)^(a)		20,208		20,802,111
2.40%, 05/03/23^(a)		57,765		59,685,426
2.45%, 08/04/26 (Call 05/04/26)^(a)		24,133		25,299,473
2.50%, 02/09/25^(a)		13,939		14,628,373
2.75%, 01/13/25 (Call 11/13/24)^(a)		13,648		14,416,797
2.85%, 05/11/24 (Call 03/11/24)^(a)		21,358		22,522,519
2.90%, 09/12/27 (Call 06/12/27)		24,564		26,450,923
2.95%, 09/11/49 (Call 03/11/49)^(a)		14,909		15,675,989
3.00%, 02/09/24 (Call 12/09/23)^(a)		18,292		19,387,427
3.00%, 06/20/27 (Call 03/20/27)^(a)		6,536		7,087,508
3.00%, 11/13/27 (Call 08/13/27)^(a)		16,351		17,781,346
3.20%, 05/13/25^(a)		19,278		20,868,715
3.20%, 05/11/27 (Call 02/11/27)^(a)		20,351		22,264,061
3.25%, 02/23/26 (Call 11/23/25)		32,839		35,833,428
3.35%, 02/09/27 (Call 11/09/26)^(a)		23,380		25,740,709
3.45%, 05/06/24		25,969		28,094,584
3.45%, 02/09/45^(a)		21,358		24,136,930
3.75%, 09/12/47 (Call 03/12/47)^(a)		9,860		11,713,503
3.75%, 11/13/47 (Call 05/13/47)^(a)		12,125		14,470,863
3.85%, 05/04/43		32,674		38,991,632
3.85%, 08/04/46 (Call 02/04/46)^(a)		21,222		25,276,234
4.25%, 02/09/47 (Call 08/09/46)^(a)		8,173		10,373,933
4.38%, 05/13/45^(a)		21,494		27,618,991
4.45%, 05/06/44^(a)		10,675		13,769,018
4.50%, 02/23/36 (Call 08/23/35)		8,489		10,811,282
4.65%, 02/23/46 (Call 08/23/45)		40,941		54,619,720
Dell International LLC/EMC Corp.
4.00%, 07/15/24 (Call 06/15/24)^(b)		11,130		11,935,754
4.90%, 10/01/26 (Call 08/01/26)^(a)(b)		16,370		18,228,904
5.30%, 10/01/29 (Call 07/01/29)^(a)(b)		13,079		15,032,643
5.45%, 06/15/23 (Call 04/15/23)^(a)(b)		37,018		40,750,014
6.02%, 06/15/26 (Call 03/15/26)^(a)(b)		44,404		52,042,540
8.10%, 07/15/36 (Call 01/15/36)^(a)(b)		15,584		21,315,329
8.35%, 07/15/46 (Call 01/15/46)^(b)		22,781		30,993,093
Hewlett Packard Enterprise Co.
4.90%, 10/15/25 (Call 07/15/25)^(a)		29,210		33,196,747
6.20%, 10/15/35 (Call 04/15/35)		7,180		8,867,300
6.35%, 10/15/45 (Call 04/15/45)^(a)		16,256		20,166,358
ComputersHP Inc., 6.00%, 09/15/41^(a)		11,864		13,707,382
International Business Machines Corp.
3.00%, 05/15/24		41,953		44,426,037
3.30%, 05/15/26^(a)		35,179		38,412,833


Security	Par (000)		Value

Computers (continued)
3.38%, 08/01/23^(a)	$	5,278	$	5,628,802
3.45%, 02/19/26^(a)		14,477		15,878,912
3.50%, 05/15/29^(a)		37,097		41,544,444
3.63%, 02/12/24^(a)		22,329		24,159,531
4.00%, 06/20/42^(a)		7,959		9,484,658
4.15%, 05/15/39		21,858		26,420,624
4.25%, 05/15/49^(a)		31,395		39,089,271


				1,149,071,212

Cosmetics & Personal Care — 0.3%
Procter & Gamble Co. (The)
2.45%, 11/03/26^(a)		13,335		14,389,689
2.85%, 08/11/27^(a)		10,166		11,159,692
3.10%, 08/15/23		13,260		14,131,638
5.55%, 03/05/37		1,520		2,240,583
Unilever Capital Corp.
2.13%, 09/06/29 (Call 06/06/29)^(a)		18,260		18,587,334
2.60%, 05/05/24 (Call 03/05/24)^(a)		1,966		2,056,184
2.90%, 05/05/27 (Call 02/05/27)^(a)		5,039		5,433,337
3.50%, 03/22/28 (Call 12/22/27)^(a)		9,568		10,744,141
5.90%, 11/15/32^(a)		7,408		10,499,761


				89,242,359

Diversified Financial Services — 2.9%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.88%, 08/14/24 (Call 07/14/24)^(a)		8,534		8,733,988
3.50%, 01/15/25 (Call 11/15/24)^(a)		9,213		9,655,111
3.65%, 07/21/27 (Call 04/21/27)^(a)		11,283		11,719,626
4.88%, 01/16/24 (Call 12/16/23)^(a)		3,500		3,809,423
Air Lease Corp.
2.30%, 02/01/25 (Call 01/01/25)^(a)		4,411		4,498,821
3.00%, 09/15/23 (Call 07/15/23)^(a)		1,955		2,033,856
3.75%, 06/01/26 (Call 04/01/26)^(a)		10,593		11,337,926
Ally Financial Inc.
3.88%, 05/21/24 (Call 04/21/24)^(a)		8,333		8,736,067
8.00%, 11/01/31		21,070		29,129,275
American Express Co.
2.50%, 07/30/24 (Call 06/30/24)^(a)		14,844		15,370,705
3.00%, 10/30/24 (Call 09/29/24)^(a)		19,754		20,871,636
3.13%, 05/20/26 (Call 04/20/26)^(a)		14,672		15,859,672
3.40%, 02/27/23 (Call 01/27/23)		16,738		17,612,289
3.40%, 02/22/24 (Call 01/22/24)^(a)		10,654		11,371,568
3.70%, 08/03/23 (Call 07/03/23)^(a)		8,497		9,083,162
4.05%, 12/03/42^(a)		10,881		13,664,464
4.20%, 11/06/25 (Call 10/06/25)^(a)		12,115		13,682,669
Diversified Financial ServicesAmerican Express Credit Corp., 3.30%, 05/03/27 (Call 04/03/27)^(a)		18,504		20,290,304
Diversified Financial ServicesAmeriprise Financial Inc., 4.00%, 10/15/23^(a)		7,369		8,025,035
Brookfield Finance Inc.
4.00%, 04/01/24 (Call 02/01/24)^(a)		10,201		11,119,099
4.70%, 09/20/47 (Call 03/20/47)^(a)		8,648		10,592,805
4.85%, 03/29/29 (Call 12/29/28)^(a)		12,438		14,827,987
Capital One Financial Corp.
3.20%, 02/05/25 (Call 01/05/25)^(a)		11,748		12,509,195
3.30%, 10/30/24 (Call 09/30/24)^(a)		14,150		15,063,467
3.50%, 06/15/23^(a)		9,568		10,114,419
3.75%, 04/24/24 (Call 03/24/24)^(a)		9,040		9,758,272
3.75%, 07/28/26 (Call 06/28/26)		13,143		14,088,917
3.75%, 03/09/27 (Call 02/09/27)^(a)		13,978		15,208,267


Security	Par (000)		Value

Diversified Financial Services (continued)
3.80%, 01/31/28 (Call 12/31/27)^(a)	$	14,834	$	16,177,082
3.90%, 01/29/24 (Call 12/29/23)^(a)		14,577		15,679,358
4.20%, 10/29/25 (Call 09/29/25)^(a)		16,460		17,950,865
4.25%, 04/30/25 (Call 03/31/25)		9,244		10,328,536
Diversified Financial ServicesCharles Schwab Corp. (The), 3.85%, 05/21/25 (Call 03/21/25)^(a)		10,929		12,183,208
CME Group Inc.
3.00%, 03/15/25 (Call 12/15/24)^(a)		14,895		15,980,579
5.30%, 09/15/43 (Call 03/15/43)		7,740		11,238,173
Diversified Financial ServicesDiscover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)		13,193		14,442,341
GE Capital International Funding Co. Unlimited Co.
3.37%, 11/15/25^(a)		17,266		18,479,724
4.42%, 11/15/35^(a)		120,029		137,096,980
Intercontinental Exchange Inc.
3.75%, 12/01/25 (Call 09/01/25)		19,564		21,626,431
4.00%, 10/15/23^(a)		3,501		3,814,021
4.25%, 09/21/48 (Call 03/21/48)		12,871		15,645,069
Diversified Financial ServicesJefferies Financial Group Inc., 5.50%, 10/18/23 (Call 01/18/23)^(a)		2,095		2,300,901
Jefferies Group LLC/Jefferies Group Capital Finance Inc.
4.15%, 01/23/30		10,422		11,288,076
4.85%, 01/15/27^(a)		8,264		9,151,825
Mastercard Inc.
2.00%, 03/03/25 (Call 02/03/25)^(a)		2,353		2,414,547
2.95%, 11/21/26 (Call 08/21/26)^(a)		9,868		10,624,285
2.95%, 06/01/29 (Call 03/01/29)		22,196		24,050,267
3.38%, 04/01/24^(a)		8,360		9,012,152
3.65%, 06/01/49 (Call 12/01/48)		6,605		7,912,196
Nomura Holdings Inc.
2.65%, 01/16/25		4,700		4,825,618
3.10%, 01/16/30		18,085		18,686,966
Synchrony Financial
3.95%, 12/01/27 (Call 09/01/27)^(a)		11,033		11,839,138
4.25%, 08/15/24 (Call 05/15/24)		11,988		12,960,532
4.50%, 07/23/25 (Call 04/23/25)^(a)		12,587		13,892,141
Diversified Financial ServicesTD Ameritrade Holding Corp., 3.30%, 04/01/27 (Call 01/01/27)^(a)		10,313		11,170,746
Visa Inc.
2.75%, 09/15/27 (Call 06/15/27)		6,553		7,009,860
2.80%, 12/14/22 (Call 10/14/22)		12,081		12,559,515
3.15%, 12/14/25 (Call 09/14/25)		42,945		46,651,523
3.65%, 09/15/47 (Call 03/15/47)^(a)		9,050		10,738,591
4.15%, 12/14/35 (Call 06/14/35)		14,215		17,603,538
4.30%, 12/14/45 (Call 06/14/45)^(a)		35,083		45,366,697


				949,469,506

Electric — 1.9%
Berkshire Hathaway Energy Co.
3.80%, 07/15/48 (Call 01/15/48)^(a)		7,993		9,149,077
4.45%, 01/15/49 (Call 07/15/48)		10,868		13,723,729
4.50%, 02/01/45 (Call 08/01/44)		7,311		9,080,087
5.15%, 11/15/43 (Call 05/15/43)^(a)		8,113		10,887,566
6.13%, 04/01/36^(a)		17,548		25,012,782
ElectricCommonwealth Edison Co., 4.00%, 03/01/48 (Call 09/01/47)		7,522		9,036,277
ElectricConnecticut Light & Power Co. (The), 4.00%, 04/01/48 (Call 10/01/47)^(a)		7,166		8,841,027
Consolidated Edison Co. of New York Inc.
4.45%, 03/15/44 (Call 09/15/43)^(a)		7,122		8,792,885


Security	Par (000)		Value

Electric (continued)
4.63%, 12/01/54 (Call 06/01/54)	$	8,242	$	10,656,737
ElectricDominion Energy Inc., 3.90%, 10/01/25 (Call 07/01/25)^(a)		5,963		6,590,877
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)^(a)		10,360		11,112,866
5.30%, 02/15/40		8,500		11,731,299
Duke Energy Corp.
2.65%, 09/01/26 (Call 06/01/26)^(a)		17,212		17,958,944
3.15%, 08/15/27 (Call 05/15/27)^(a)		8,372		8,978,388
3.75%, 04/15/24 (Call 01/15/24)^(a)		11,107		11,963,422
3.75%, 09/01/46 (Call 03/01/46)^(a)		14,783		16,392,576
ElectricDuke Energy Florida LLC, 6.40%, 06/15/38		8,864		13,540,427
Emera U.S. Finance LP
3.55%, 06/15/26 (Call 03/15/26)^(a)		11,272		12,238,819
4.75%, 06/15/46 (Call 12/15/45)^(a)		11,349		13,764,252
ElectricEntergy Corp., 2.95%, 09/01/26 (Call 06/01/26)^(a)		8,297		8,729,965
Evergy Inc.
2.45%, 09/15/24 (Call 08/15/24)^(a)		5,055		5,204,643
2.90%, 09/15/29 (Call 06/15/29)^(a)		10,135		10,595,331
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)		8,648		9,359,308
3.95%, 06/15/25 (Call 03/15/25)^(a)		11,320		12,421,058
4.45%, 04/15/46 (Call 10/15/45)^(a)		11,874		14,236,037
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)		5,280		6,293,261
6.25%, 10/01/39^(a)		9,298		11,733,049
FirstEnergy Corp.
Series B, 3.90%, 07/15/27 (Call 04/15/27)		19,221		21,436,145
Series B, 4.25%, 03/15/23 (Call 12/15/22)^(a)		1,537		1,646,004
Series C, 3.40%, 03/01/50 (Call 09/01/49)		10,000		10,098,456
Series C, 4.85%, 07/15/47 (Call 01/15/47)^(a)		9,016		11,091,783
Series C, 7.38%, 11/15/31		14,964		21,774,069
Florida Power & Light Co.
3.15%, 10/01/49 (Call 04/01/49)^(a)		9,924		10,960,709
3.95%, 03/01/48 (Call 09/01/47)		9,701		12,033,285
ElectricGeorgia Power Co., 4.30%, 03/15/42		11,450		13,412,416
MidAmerican Energy Co.
3.65%, 04/15/29 (Call 01/15/29)		1,539		1,741,669
4.25%, 07/15/49 (Call 01/15/49)		9,380		12,055,778
NextEra Energy Capital Holdings Inc.
2.75%, 11/01/29 (Call 08/01/29)^(a)		11,835		12,356,905
3.15%, 04/01/24 (Call 03/01/24)^(a)		9,846		10,443,024
3.55%, 05/01/27 (Call 02/01/27)		6,478		7,129,713
ElectricPublic Service Enterprise Group Inc., 2.88%, 06/15/24 (Call 05/15/24)^(a)		5,730		6,007,094
Sempra Energy
3.25%, 06/15/27 (Call 03/15/27)^(a)		5,876		6,289,945
3.40%, 02/01/28 (Call 11/01/27)^(a)		10,561		11,345,525
3.80%, 02/01/38 (Call 08/01/37)^(a)		12,219		13,455,822
4.00%, 02/01/48 (Call 08/01/47)^(a)		8,916		9,848,630
6.00%, 10/15/39^(a)		7,505		10,242,729
Southern California Edison Co.
4.00%, 04/01/47 (Call 10/01/46)^(a)		17,851		20,258,920
4.65%, 10/01/43 (Call 04/01/43)^(a)		9,994		12,197,784
Series C, 4.13%, 03/01/48 (Call 09/01/47)		13,411		15,374,370
Southern Co. (The)
2.95%, 07/01/23 (Call 05/01/23)^(a)		16,412		17,119,470
3.25%, 07/01/26 (Call 04/01/26)		20,028		21,496,319
4.40%, 07/01/46 (Call 01/01/46)^(a)		19,838		23,144,423


Security	Par (000)		Value

Electric (continued)
Virginia Electric & Power Co.
Series A, 3.15%, 01/15/26 (Call 10/15/25)^(a)	$	5,866	$	6,334,126
Series A, 3.50%, 03/15/27 (Call 12/15/26)		6,901		7,611,276


				634,931,078

Electronics — 0.1%
ElectronicsFortive Corp., 3.15%, 06/15/26 (Call 03/15/26)^(a)		4,808		5,093,762
Honeywell International Inc.
2.30%, 08/15/24 (Call 07/15/24)^(a)		6,439		6,685,254
2.50%, 11/01/26 (Call 08/01/26)^(a)		11,568		12,249,257
2.70%, 08/15/29 (Call 05/15/29)^(a)		7,064		7,558,786
ElectronicsRoper Technologies Inc., 4.20%, 09/15/28 (Call 06/15/28)^(a)		6,156		7,083,402


				38,670,461

Environmental Control — 0.2%
Republic Services Inc.
2.50%, 08/15/24 (Call 07/15/24)^(a)		7,454		7,728,059
3.95%, 05/15/28 (Call 02/15/28)^(a)		5,121		5,824,711
Waste Management Inc.
2.95%, 06/15/24 (Call 05/15/24)^(a)		10,493		11,067,252
3.15%, 11/15/27 (Call 08/15/27)^(a)		9,581		10,317,158
3.20%, 06/15/26 (Call 04/15/26)^(a)		11,849		12,834,378
3.45%, 06/15/29 (Call 03/15/29)^(a)		10,027		11,075,384
4.10%, 03/01/45 (Call 09/01/44)^(a)		5,535		6,754,042
4.15%, 07/15/49 (Call 01/15/49)^(a)		9,864		12,277,943


				77,878,927

Food — 0.8%
Campbell Soup Co.
3.95%, 03/15/25 (Call 01/15/25)^(a)		10,475		11,456,869
4.15%, 03/15/28 (Call 12/15/27)^(a)		7,665		8,537,876
Conagra Brands Inc.
4.30%, 05/01/24 (Call 04/01/24)		8,175		8,925,045
4.60%, 11/01/25 (Call 09/01/25)		9,739		10,905,540
4.85%, 11/01/28 (Call 08/01/28)^(a)		12,577		14,627,900
5.30%, 11/01/38 (Call 05/01/38)^(a)		9,606		11,625,268
5.40%, 11/01/48 (Call 05/01/48)^(a)		10,889		13,772,238
General Mills Inc.
3.20%, 02/10/27 (Call 11/10/26)^(a)		5,738		6,208,088
3.70%, 10/17/23 (Call 09/17/23)^(a)		3,086		3,318,583
4.00%, 04/17/25 (Call 02/17/25)^(a)		9,134		10,123,914
4.20%, 04/17/28 (Call 01/17/28)^(a)		15,789		18,117,011
FoodJM Smucker Co. (The), 3.50%, 03/15/25^(a)		8,262		8,967,265
FoodKellogg Co., 3.25%, 04/01/26^(a)		5,168		5,569,397
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		7,690		7,997,722
3.95%, 01/15/50 (Call 07/15/49)^(a)		9,860		10,211,662
4.45%, 02/01/47 (Call 08/01/46)^(a)		7,259		8,038,666
FoodMcCormick & Co. Inc./MD, 3.40%, 08/15/27 (Call 05/15/27)^(a)		4,931		5,388,745
FoodMondelez International Inc., 3.63%, 05/07/23 (Call 04/07/23)^(a)		9,420		10,037,944
Sysco Corp.
3.25%, 07/15/27 (Call 04/15/27)		9,530		10,335,507
3.30%, 07/15/26 (Call 04/15/26)^(a)		4,548		4,955,933
3.75%, 10/01/25 (Call 07/01/25)^(a)		8,918		9,877,107
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)		9,547		10,470,386
3.95%, 08/15/24 (Call 05/15/24)^(a)		8,013		8,778,447
4.00%, 03/01/26 (Call 01/01/26)^(a)		10,336		11,529,649


Security	Par (000)		Value

Food (continued)
4.35%, 03/01/29 (Call 12/01/28)^(a)	$	11,705	$	13,695,889
4.55%, 06/02/47 (Call 12/02/46)^(a)		7,222		8,743,855
5.10%, 09/28/48 (Call 03/28/48)^(a)		16,469		21,458,545


				273,675,051

Forest Products & Paper — 0.1%
International Paper Co.
3.00%, 02/15/27 (Call 11/15/26)^(a)		9,347		9,925,190
3.65%, 06/15/24 (Call 03/15/24)^(a)		1,048		1,130,802
4.35%, 08/15/48 (Call 02/15/48)^(a)		11,415		12,661,433
4.40%, 08/15/47 (Call 02/15/47)		12,930		14,213,833
4.80%, 06/15/44 (Call 12/15/43)		8,278		9,560,096


				47,491,354

Gas — 0.2%
GasAtmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)		5,733		6,916,698
NiSource Inc.
2.95%, 09/01/29 (Call 06/01/29)^(a)		7,360		7,705,522
3.49%, 05/15/27 (Call 02/15/27)^(a)		9,664		10,574,305
3.95%, 03/30/48 (Call 09/30/47)^(a)		4,753		5,302,578
4.38%, 05/15/47 (Call 11/15/46)^(a)		12,711		14,928,872
4.80%, 02/15/44 (Call 08/15/43)		8,602		10,444,499


				55,872,474

Health Care - Products — 1.1%
Abbott Laboratories
2.95%, 03/15/25 (Call 12/15/24)^(a)		13,980		14,882,349
3.40%, 11/30/23 (Call 09/30/23)^(a)		7,671		8,218,320
3.75%, 11/30/26 (Call 08/30/26)^(a)		17,759		19,998,445
4.75%, 11/30/36 (Call 05/30/36)^(a)		15,646		20,529,641
4.90%, 11/30/46 (Call 05/30/46)^(a)		33,761		47,026,001
Boston Scientific Corp.
3.45%, 03/01/24 (Call 02/01/24)^(a)		6,152		6,577,901
3.75%, 03/01/26 (Call 01/01/26)^(a)		9,126		10,084,768
3.85%, 05/15/25		4,348		4,774,598
4.00%, 03/01/29 (Call 12/01/28)^(a)		10,751		12,340,193
4.55%, 03/01/39 (Call 09/01/38)^(a)		5,279		6,520,896
4.70%, 03/01/49 (Call 09/01/48)		10,115		13,166,133
DH Europe Finance II Sarl
2.60%, 11/15/29 (Call 08/15/29)		7,369		7,666,374
3.25%, 11/15/39 (Call 05/15/39)		8,993		9,769,602
3.40%, 11/15/49 (Call 05/15/49)^(a)		10,503		11,638,481
Medtronic Inc.
3.50%, 03/15/25^(a)		30,341		33,334,176
4.38%, 03/15/35		21,753		27,765,403
4.63%, 03/15/45		18,088		24,429,343
Stryker Corp.
3.38%, 11/01/25 (Call 08/01/25)^(a)		7,837		8,563,308
3.50%, 03/15/26 (Call 12/15/25)		11,887		13,124,010
4.63%, 03/15/46 (Call 09/15/45)^(a)		8,776		11,385,292
Thermo Fisher Scientific Inc.
2.60%, 10/01/29 (Call 07/01/29)^(a)		12,238		12,663,898
2.95%, 09/19/26 (Call 06/19/26)^(a)		13,503		14,513,574
3.00%, 04/15/23 (Call 02/15/23)		8,969		9,375,841
3.20%, 08/15/27 (Call 05/15/27)^(a)		4,926		5,343,375
4.10%, 08/15/47 (Call 02/15/47)^(a)		7,194		8,810,488
4.15%, 02/01/24 (Call 11/01/23)		546		596,928
Health Care - ProductsZimmer Biomet Holdings Inc., 3.55%, 04/01/25 (Call 01/01/25)^(a)		15,039		16,257,203


				379,356,541


Security	Par (000)		Value

Health Care - Services — 2.2%
Aetna Inc.
2.80%, 06/15/23 (Call 04/15/23)^(a)	$	4,842	$	4,991,399
3.50%, 11/15/24 (Call 08/15/24)^(a)		11,474		12,345,298
3.88%, 08/15/47 (Call 02/15/47)^(a)		10,494		11,024,174
6.63%, 06/15/36		8,704		12,069,010
Anthem Inc.
2.38%, 01/15/25 (Call 12/15/24)^(a)		11,686		12,012,267
2.88%, 09/15/29 (Call 06/15/29)^(a)		3,136		3,223,392
3.35%, 12/01/24 (Call 10/01/24)^(a)		9,409		10,055,219
3.50%, 08/15/24 (Call 05/15/24)^(a)		12,160		13,055,500
3.65%, 12/01/27 (Call 09/01/27)^(a)		14,287		15,621,314
3.70%, 09/15/49 (Call 03/15/49)^(a)		8,797		9,014,457
4.10%, 03/01/28 (Call 12/01/27)^(a)		11,451		12,814,146
4.38%, 12/01/47 (Call 06/01/47)^(a)		15,085		17,162,296
4.55%, 03/01/48 (Call 09/01/47)^(a)		9,362		10,984,254
4.63%, 05/15/42^(a)		9,471		10,996,695
4.65%, 01/15/43		10,107		11,846,192
4.65%, 08/15/44 (Call 02/15/44)		8,337		9,738,130
CommonSpirit Health
2.76%, 10/01/24 (Call 07/01/24)^(a)		11,070		11,601,941
3.35%, 10/01/29 (Call 04/01/29)		3,857		4,104,669
4.19%, 10/01/49 (Call 04/01/49)^(a)		10,353		11,366,229
HCA Inc.
4.13%, 06/15/29 (Call 03/15/29)^(a)		21,060		23,053,310
4.50%, 02/15/27 (Call 08/15/26)^(a)		9,386		10,378,550
4.75%, 05/01/23^(a)		4,046		4,402,232
5.00%, 03/15/24^(a)		20,119		22,332,026
5.13%, 06/15/39 (Call 12/15/38)^(a)		9,708		11,277,212
5.25%, 04/15/25		16,215		18,513,001
5.25%, 06/15/26 (Call 12/15/25)		25,117		28,865,572
5.25%, 06/15/49 (Call 12/15/48)		18,267		21,165,587
5.50%, 06/15/47 (Call 12/15/46)		16,839		19,956,753
Health Care - ServicesHumana Inc., 4.95%, 10/01/44 (Call 04/01/44)^(a)		7,134		8,808,072
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		20,547		26,361,037
Series 2019, 3.27%, 11/01/49 (Call 05/01/49)		3,469		3,856,047
Laboratory Corp. of America Holdings
3.60%, 02/01/25 (Call 11/01/24)^(a)		16,395		17,689,823
4.70%, 02/01/45 (Call 08/01/44)^(a)		7,679		9,207,359
Health Care - ServicesQuest Diagnostics Inc., 2.95%, 06/30/30 (Call 03/30/30)		8,415		8,698,427
UnitedHealth Group Inc.
2.38%, 08/15/24^(a)		8,445		8,748,378
2.88%, 03/15/23		8,710		9,096,674
2.88%, 08/15/29^(a)		9,642		10,258,897
2.95%, 10/15/27^(a)		11,807		12,608,211
3.10%, 03/15/26^(a)		11,175		12,005,678
3.45%, 01/15/27^(a)		5,331		5,849,727
3.50%, 06/15/23^(a)		5,553		5,916,650
3.50%, 02/15/24		8,543		9,180,543
3.50%, 08/15/39 (Call 02/15/39)^(a)		13,435		14,804,208
3.70%, 08/15/49 (Call 02/15/49)^(a)		13,825		15,622,987
3.75%, 07/15/25^(a)		19,866		21,979,814
3.75%, 10/15/47 (Call 04/15/47)		9,955		11,249,642
3.85%, 06/15/28		10,803		12,217,853
3.88%, 12/15/28		8,281		9,451,427
3.88%, 08/15/59 (Call 02/15/59)		13,761		15,671,525
4.20%, 01/15/47 (Call 07/15/46)		8,694		10,409,544
4.25%, 03/15/43 (Call 09/15/42)^(a)		5,149		6,141,769


Security	Par (000)		Value

Health Care - Services (continued)
4.25%, 06/15/48 (Call 12/15/47)^(a)	$	13,563	$	16,400,302
4.45%, 12/15/48 (Call 06/15/48)		11,170		13,911,536
4.63%, 07/15/35		9,974		12,564,924
4.75%, 07/15/45		16,935		21,840,377
5.80%, 03/15/36		9,919		13,608,278
6.88%, 02/15/38		11,777		17,990,716


				726,121,250

Holding Companies - Diversified — 0.1%
Ares Capital Corp.
3.25%, 07/15/25 (Call 06/15/25)^(a)		5,177		5,231,626
4.20%, 06/10/24 (Call 05/10/24)		12,175		12,964,526


				18,196,152

Insurance — 2.1%
InsuranceAflac Inc., 3.63%, 11/15/24^(a)		6,891		7,517,672
American International Group Inc.
3.75%, 07/10/25 (Call 04/10/25)^(a)		19,013		20,744,999
3.88%, 01/15/35 (Call 07/15/34)		12,428		14,021,966
3.90%, 04/01/26 (Call 01/01/26)^(a)		14,036		15,567,991
4.13%, 02/15/24^(a)		6,358		6,946,161
4.20%, 04/01/28 (Call 01/01/28)^(a)		5,045		5,725,319
4.38%, 01/15/55 (Call 07/15/54)^(a)		9,352		10,844,389
4.50%, 07/16/44 (Call 01/16/44)^(a)		24,137		29,557,494
4.75%, 04/01/48 (Call 10/01/47)^(a)		10,828		13,807,332
4.80%, 07/10/45 (Call 01/10/45)^(a)		6,723		8,413,633
6.25%, 05/01/36^(a)		6,711		9,217,085
InsuranceAon Corp., 3.75%, 05/02/29 (Call 02/02/29)^(a)		6,258		6,964,327
InsuranceAon PLC, 3.88%, 12/15/25 (Call 09/15/25)^(a)		9,620		10,738,043
InsuranceAthene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)^(a)		8,415		9,054,585
Berkshire Hathaway Finance Corp.
4.20%, 08/15/48 (Call 02/15/48)^(a)		24,908		30,895,818
4.25%, 01/15/49 (Call 07/15/48)^(a)		22,879		28,451,121
5.75%, 01/15/40^(a)		3,926		5,687,581
Berkshire Hathaway Inc.
2.75%, 03/15/23 (Call 01/15/23)^(a)		12,921		13,413,290
3.13%, 03/15/26 (Call 12/15/25)^(a)		31,006		33,564,882
4.50%, 02/11/43^(a)		10,991		13,882,398
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		20,965		21,263,967
4.70%, 06/22/47 (Call 12/22/46)		13,772		13,032,444
InsuranceChubb Corp. (The), 6.00%, 05/11/37^(a)		10,662		15,574,524
Chubb INA Holdings Inc.
3.15%, 03/15/25		12,108		13,155,068
3.35%, 05/03/26 (Call 02/03/26)^(a)		15,207		16,700,711
4.35%, 11/03/45 (Call 05/03/45)^(a)		17,848		22,922,204
Equitable Holdings Inc.
3.90%, 04/20/23 (Call 03/20/23)^(a)		7,508		8,015,837
4.35%, 04/20/28 (Call 01/20/28)^(a)		14,821		16,653,919
5.00%, 04/20/48 (Call 10/20/47)		15,317		17,322,519
Marsh & McLennan Companies Inc.
3.88%, 03/15/24 (Call 02/15/24)^(a)		9,791		10,618,863
4.38%, 03/15/29 (Call 12/15/28)		15,382		17,896,686
4.90%, 03/15/49 (Call 09/15/48)^(a)		13,563		17,944,158
MetLife Inc.
3.60%, 04/10/24^(a)		7,296		7,955,480
4.05%, 03/01/45^(a)		8,967		10,768,234
4.13%, 08/13/42		7,891		9,423,854
4.60%, 05/13/46 (Call 11/13/45)^(a)		8,082		10,484,534


Security	Par (000)		Value

Insurance (continued)
4.88%, 11/13/43	$	11,489	$	15,022,267
5.70%, 06/15/35^(a)		12,276		17,456,279
5.88%, 02/06/41		6,546		9,539,210
6.38%, 06/15/34^(a)		8,733		12,999,333
Series D, 4.37%, 09/15/23^(a)		5,558		6,145,597
InsuranceProgressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)		9,017		11,157,547
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)^(a)		16,026		17,219,338
3.91%, 12/07/47 (Call 06/07/47)^(a)		10,670		11,868,088
3.94%, 12/07/49 (Call 06/07/49)^(a)		9,750		11,120,976
4.35%, 02/25/50 (Call 08/25/49)^(a)		9,590		11,424,570
4.60%, 05/15/44^(a)		8,585		10,570,976
5.70%, 12/14/36^(a)		5,491		7,658,752
Travelers Companies Inc. (The)
5.35%, 11/01/40^(a)		6,149		8,756,453
6.25%, 06/15/37^(a)		10,742		15,893,153


				691,581,627

Internet — 1.0%
Alphabet Inc.
2.00%, 08/15/26 (Call 05/15/26)		17,098		17,672,103
3.38%, 02/25/24^(a)		1,194		1,295,063
Amazon.com Inc.
2.80%, 08/22/24 (Call 06/22/24)		21,555		22,725,109
3.15%, 08/22/27 (Call 05/22/27)		37,607		41,223,823
3.80%, 12/05/24 (Call 09/05/24)^(a)		9,038		9,955,657
3.88%, 08/22/37 (Call 02/22/37)		29,429		35,395,415
4.05%, 08/22/47 (Call 02/22/47)^(a)		36,411		46,831,442
4.25%, 08/22/57 (Call 02/22/57)^(a)		22,452		30,111,920
4.80%, 12/05/34 (Call 06/05/34)^(a)		14,567		19,286,124
4.95%, 12/05/44 (Call 06/05/44)^(a)		16,267		22,840,648
5.20%, 12/03/25 (Call 09/03/25)		8,599		10,242,825
InternetBooking Holdings Inc., 3.60%, 06/01/26 (Call 03/01/26)		11,407		12,466,686
eBay Inc.
3.45%, 08/01/24 (Call 05/01/24)^(a)		9,247		9,866,259
3.60%, 06/05/27 (Call 03/05/27)^(a)		7,029		7,571,324
4.00%, 07/15/42 (Call 01/15/42)^(a)		9,091		9,154,637
Expedia Group Inc.
3.25%, 02/15/30 (Call 11/15/29)^(a)(b)		14,469		14,421,262
3.80%, 02/15/28 (Call 11/15/27)		13,886		14,264,288
5.00%, 02/15/26 (Call 11/15/25)^(a)		1,261		1,437,307


				326,761,892

Iron & Steel — 0.1%
ArcelorMittal SA
3.60%, 07/16/24		9,477		9,892,720
4.55%, 03/11/26^(a)		7,245		7,953,544


				17,846,264

Lodging — 0.1%
Las Vegas Sands Corp.
3.20%, 08/08/24 (Call 07/08/24)		19,731		20,531,209
3.50%, 08/18/26 (Call 06/18/26)^(a)		9,059		9,568,062
3.90%, 08/08/29 (Call 05/08/29)^(a)		9,102		9,688,587
LodgingMarriott International Inc./MD, Series R, 3.13%, 06/15/26 (Call 03/15/26)		903		958,683


				40,746,541

Machinery — 0.5%
ABB Finance USA Inc.
3.80%, 04/03/28 (Call 01/03/28)^(a)		8,642		9,762,532


Security	Par (000)		Value

Machinery (continued)
4.38%, 05/08/42	$	7,100	$	9,150,210
MachineryCaterpillar Financial Services Corp., 2.15%, 11/08/24^(a)		850		874,883
Caterpillar Inc.
3.25%, 09/19/49 (Call 03/19/49)^(a)		10,148		10,930,578
3.40%, 05/15/24 (Call 02/15/24)^(a)		12,342		13,227,384
3.80%, 08/15/42^(a)		17,757		21,114,328
5.20%, 05/27/41		7,822		10,817,200
MachineryDeere & Co., 3.90%, 06/09/42 (Call 12/09/41)^(a)		11,855		14,433,374
John Deere Capital Corp.
2.80%, 03/06/23^(a)		9,385		9,796,641
3.45%, 03/13/25		4,574		4,980,887
Otis Worldwide Corp.
2.06%, 04/05/25 (Call 03/05/25)^(b)		11,280		11,505,979
2.57%, 02/15/30 (Call 11/15/29)^(a)(b)		12,500		12,847,166
3.11%, 02/15/40 (Call 08/15/39)^(b)		10,000		10,455,469
3.36%, 02/15/50 (Call 08/15/49)^(b)		10,550		10,907,119
MachineryWabtec Corp., 4.40%, 03/15/24
(Call 02/15/24)		6,742		7,325,944
Westinghouse Air Brake Technologies Corp.
3.45%, 11/15/26 (Call 08/15/26)^(a)		3,647		3,809,291
4.95%, 09/15/28 (Call 06/15/28)^(a)		14,308		16,403,357


				178,342,342

Manufacturing — 0.9%
3M Co.
2.00%, 02/14/25 (Call 01/14/25)^(a)		7,585		7,737,962
2.38%, 08/26/29 (Call 05/26/29)^(a)		13,245		13,563,248
2.88%, 10/15/27 (Call 07/15/27)^(a)		9,624		10,244,980
3.25%, 02/14/24 (Call 01/14/24)^(a)		7,377		7,878,964
3.25%, 08/26/49 (Call 02/26/49)^(a)		9,026		9,470,681
3.38%, 03/01/29 (Call 12/01/28)^(a)		8,941		9,838,077
4.00%, 09/14/48 (Call 03/14/48)^(a)		12,430		14,742,682
Eaton Corp.
2.75%, 11/02/22		9,180		9,544,030
4.15%, 11/02/42^(a)		8,819		10,850,214
General Electric Co.
3.38%, 03/11/24^(a)		6,549		6,935,877
4.13%, 10/09/42^(a)		8,560		9,339,739
4.50%, 03/11/44		7,172		8,285,447
5.88%, 01/14/38^(a)		33,353		42,838,573
6.15%, 08/07/37^(a)		10,728		14,120,201
6.88%, 01/10/39		22,739		32,031,895
Series A, 6.75%, 03/15/32		31,205		42,065,516
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)^(a)		6,425		6,843,481
3.90%, 09/01/42 (Call 03/01/42)^(a)		9,315		11,521,433
ManufacturingIngersoll-Rand Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)^(a)		6,090		6,833,252
Parker-Hannifin Corp.
3.25%, 06/14/29 (Call 03/14/29)^(a)		12,961		14,008,845
4.00%, 06/14/49 (Call 12/14/48)^(a)		6,543		7,531,098


				296,226,195

Media — 4.8%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.75%, 02/15/28 (Call 11/15/27)^(a)		16,658		17,650,004
4.20%, 03/15/28 (Call 12/15/27)		12,111		13,200,047
4.50%, 02/01/24 (Call 01/01/24)^(a)		10,071		10,988,771


Security	Par (000)		Value

Media (continued)
4.80%, 03/01/50 (Call 09/01/49)^(a)	$	29,023	$	31,321,125
4.91%, 07/23/25 (Call 04/23/25)^(a)		53,675		60,143,890
5.05%, 03/30/29 (Call 12/30/28)^(a)		7,268		8,403,549
5.13%, 07/01/49 (Call 01/01/49)^(a)		10,363		11,528,684
5.38%, 04/01/38 (Call 10/01/37)^(a)		6,064		6,969,500
5.38%, 05/01/47 (Call 11/01/46)		26,313		30,125,214
5.75%, 04/01/48 (Call 10/01/47)		26,653		31,662,882
6.38%, 10/23/35 (Call 04/23/35)^(a)		17,655		23,282,639
6.48%, 10/23/45 (Call 04/23/45)		38,929		49,729,318
Comcast Corp.
2.35%, 01/15/27 (Call 10/15/26)^(a)		15,838		16,363,445
2.65%, 02/01/30 (Call 11/01/29)^(a)		11,593		12,128,554
2.75%, 03/01/23 (Call 02/01/23)^(a)		2,292		2,389,048
3.00%, 02/01/24 (Call 01/01/24)^(a)		14,916		15,752,451
3.15%, 03/01/26 (Call 12/01/25)^(a)		26,460		28,512,404
3.15%, 02/15/28 (Call 11/15/27)		19,947		21,566,816
3.20%, 07/15/36 (Call 01/15/36)^(a)		7,929		8,594,624
3.25%, 11/01/39 (Call 05/01/39)^(a)		10,264		11,093,436
3.30%, 02/01/27 (Call 11/01/26)^(a)		8,638		9,388,013
3.38%, 02/15/25 (Call 11/15/24)^(a)		14,953		16,138,691
3.38%, 08/15/25 (Call 05/15/25)^(a)		17,580		19,084,755
3.40%, 07/15/46 (Call 01/15/46)^(a)		14,515		15,747,267
3.45%, 02/01/50 (Call 08/01/49)^(a)		19,521		21,504,744
3.55%, 05/01/28 (Call 02/01/28)^(a)		14,982		16,653,811
3.60%, 03/01/24^(a)		5,459		5,893,563
3.70%, 04/15/24 (Call 03/15/24)		21,919		23,789,850
3.90%, 03/01/38 (Call 09/01/37)^(a)		10,625		12,505,765
3.95%, 10/15/25 (Call 08/15/25)^(a)		30,724		34,413,919
3.97%, 11/01/47 (Call 05/01/47)^(a)		21,184		25,163,059
4.00%, 08/15/47 (Call 02/15/47)^(a)		10,086		11,931,862
4.00%, 03/01/48 (Call 09/01/47)		10,869		12,759,659
4.00%, 11/01/49 (Call 05/01/49)^(a)		21,576		25,611,471
4.05%, 11/01/52 (Call 05/01/52)		15,558		18,522,410
4.15%, 10/15/28 (Call 07/15/28)		41,683		48,294,653
4.20%, 08/15/34 (Call 02/15/34)		12,553		15,089,340
4.25%, 10/15/30 (Call 07/15/30)		18,038		21,383,791
4.25%, 01/15/33^(a)		19,702		23,800,101
4.40%, 08/15/35 (Call 02/15/35)		7,676		9,450,790
4.60%, 10/15/38 (Call 04/15/38)^(a)		31,861		40,230,235
4.60%, 08/15/45 (Call 02/15/45)^(a)		17,718		22,666,712
4.65%, 07/15/42^(a)		13,434		17,139,011
4.70%, 10/15/48 (Call 04/15/48)^(a)		42,480		55,683,098
4.75%, 03/01/44^(a)		7,729		9,997,142
4.95%, 10/15/58 (Call 04/15/58)		25,955		35,480,238
5.65%, 06/15/35^(a)		8,868		12,378,819
6.45%, 03/15/37		7,337		10,838,092
6.50%, 11/15/35		10,144		15,281,453
6.95%, 08/15/37		8,717		13,443,009
7.05%, 03/15/33		8,813		13,314,232
Discovery Communications LLC
2.95%, 03/20/23 (Call 02/20/23)^(a)		13,168		13,631,209
3.95%, 03/20/28 (Call 12/20/27)		21,608		23,437,180
4.13%, 05/15/29 (Call 02/15/29)^(a)		8,877		9,797,112
4.88%, 04/01/43^(a)		9,835		11,160,692
5.00%, 09/20/37 (Call 03/20/37)^(a)		4,872		5,544,830
5.20%, 09/20/47 (Call 03/20/47)^(a)		15,136		17,884,745
5.30%, 05/15/49 (Call 11/15/48)^(a)		9,281		11,214,036
6.35%, 06/01/40^(a)		7,929		10,503,264
Fox Corp.
4.03%, 01/25/24 (Call 12/25/23)^(a)(b)		13,831		14,972,475


Security	Par (000)		Value

Media (continued)
4.71%, 01/25/29 (Call 10/25/28)^(a)(b)	$	21,328	$	25,075,210
5.48%, 01/25/39 (Call 07/25/38)^(a)(b)		12,677		16,255,903
5.58%, 01/25/49 (Call 07/25/48)^(b)		14,841		19,779,096
NBCUniversal Media LLC
4.45%, 01/15/43^(a)		6,559		8,096,500
5.95%, 04/01/41^(a)		12,591		18,395,436
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)^(a)		11,484		11,951,743
5.50%, 09/01/41 (Call 03/01/41)^(a)		12,328		14,393,977
5.88%, 11/15/40 (Call 05/15/40)^(a)		13,703		17,029,873
6.55%, 05/01/37^(a)		16,541		21,560,853
6.75%, 06/15/39^(a)		16,041		21,347,015
7.30%, 07/01/38^(a)		12,706		17,803,449
Time Warner Entertainment Co. LP
8.38%, 03/15/23^(a)		6,689		7,974,569
8.38%, 07/15/33		11,902		17,566,709
TWDC Enterprises 18 Corp.
1.85%, 07/30/26^(a)		9,619		9,796,570
2.95%, 06/15/27^(a)		8,477		9,201,900
3.00%, 02/13/26^(a)		8,393		9,139,178
3.15%, 09/17/25^(a)		4,794		5,229,991
4.13%, 06/01/44		10,803		13,550,288
ViacomCBS Inc.
4.00%, 01/15/26 (Call 10/15/25)		9,411		10,438,261
4.25%, 09/01/23 (Call 06/01/23)^(a)		1,542		1,672,325
4.38%, 03/15/43^(a)		14,641		15,671,110
5.85%, 09/01/43 (Call 03/01/43)^(a)		12,048		15,224,389
6.88%, 04/30/36		12,170		16,718,332
7.88%, 07/30/30^(a)		8,267		11,900,084
Walt Disney Co. (The)
1.75%, 08/30/24 (Call 07/30/24)		4,453		4,520,761
2.00%, 09/01/29 (Call 06/01/29)^(a)		17,361		17,470,864
2.75%, 09/01/49 (Call 03/01/49)^(a)		20,755		21,049,096
6.20%, 12/15/34		11,838		17,702,301
6.40%, 12/15/35^(a)		8,646		13,087,840
6.65%, 11/15/37		15,617		24,433,042


				1,597,168,164

Metal Fabricate & Hardware — 0.0%
Metal Fabricate & HardwarePrecision Castparts Corp., 3.25%, 06/15/25 (Call 03/15/25)		94		101,953


Mining — 0.5%
MiningBarrick Gold Corp., 5.25%, 04/01/42		7,868		10,191,706
Barrick North America Finance LLC
5.70%, 05/30/41		9,246		12,249,630
5.75%, 05/01/43^(a)		7,684		10,696,235
MiningBarrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39^(a)		7,535		10,285,426
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		11,433		13,776,393
5.00%, 09/30/43^(a)		25,493		34,306,746
Newmont Corp.
3.70%, 03/15/23 (Call 12/15/22)^(a)		520		551,062
4.88%, 03/15/42 (Call 09/15/41)		9,775		12,293,566
6.25%, 10/01/39^(a)		10,096		14,685,029
MiningRio Tinto Alcan Inc., 6.13%, 12/15/33		6,967		9,856,981
Rio Tinto Finance USA Ltd.
3.75%, 06/15/25 (Call 03/15/25)		11,187		12,378,305
5.20%, 11/02/40^(a)		11,351		15,627,663
7.13%, 07/15/28		5,783		7,978,875


Security	Par (000)		Value

Mining (continued)
MiningRio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)	$	10,741	$	12,980,469


				177,858,086

Oil & Gas — 5.5%
Apache Corp.
4.25%, 01/15/44 (Call 07/15/43)^(a)		9,439		8,481,262
4.38%, 10/15/28 (Call 07/15/28)		2,912		3,077,073
4.75%, 04/15/43 (Call 10/15/42)^(a)		16,331		15,344,550
5.10%, 09/01/40 (Call 03/01/40)^(a)		15,622		15,456,185
BP Capital Markets America Inc.
2.75%, 05/10/23^(a)		723		748,657
3.02%, 01/16/27 (Call 10/16/26)^(a)		10,673		11,313,650
3.12%, 05/04/26 (Call 02/04/26)^(a)		14,540		15,593,599
3.22%, 11/28/23 (Call 09/28/23)		8,804		9,304,719
3.22%, 04/14/24 (Call 02/14/24)		10,756		11,422,863
3.41%, 02/11/26 (Call 12/11/25)^(a)		10,450		11,368,831
3.79%, 02/06/24 (Call 01/06/24)		11,482		12,389,228
3.80%, 09/21/25 (Call 07/21/25)^(a)		14,360		15,883,221
3.94%, 09/21/28 (Call 06/21/28)^(a)		5,995		6,778,845
4.23%, 11/06/28 (Call 08/06/28)^(a)		25,013		28,965,047
BP Capital Markets PLC
3.28%, 09/19/27 (Call 06/19/27)^(a)		15,365		16,530,317
3.51%, 03/17/25^(a)		13,358		14,514,494
3.54%, 11/04/24^(a)		15,091		16,330,552
3.72%, 11/28/28 (Call 08/28/28)		9,654		10,757,457
3.81%, 02/10/24		15,098		16,327,577
3.99%, 09/26/23		5,007		5,418,452
Canadian Natural Resources Ltd.
3.85%, 06/01/27 (Call 03/01/27)^(a)		12,208		13,029,767
4.95%, 06/01/47 (Call 12/01/46)^(a)		9,132		10,863,687
6.25%, 03/15/38^(a)		10,962		14,277,912
Cenovus Energy Inc.
4.25%, 04/15/27 (Call 01/15/27)^(a)		10,261		10,798,360
5.40%, 06/15/47 (Call 12/15/46)^(a)		9,888		10,840,719
6.75%, 11/15/39		14,847		17,855,124
Chevron Corp.
2.57%, 05/16/23 (Call 03/16/23)^(a)		2,382		2,464,778
2.90%, 03/03/24 (Call 01/03/24)^(a)		10,551		11,093,914
2.95%, 05/16/26 (Call 02/16/26)^(a)		26,266		28,088,172
3.19%, 06/24/23 (Call 03/24/23)^(a)		12,400		13,064,841
3.33%, 11/17/25 (Call 08/17/25)^(a)		14,695		16,041,141
Cimarex Energy Co.
3.90%, 05/15/27 (Call 02/15/27)		9,922		10,255,782
4.38%, 06/01/24 (Call 03/01/24)^(a)		2,438		2,587,158
Concho Resources Inc.
3.75%, 10/01/27 (Call 07/01/27)^(a)		13,311		13,861,397
4.30%, 08/15/28 (Call 05/15/28)		10,949		11,813,790
4.88%, 10/01/47 (Call 04/01/47)^(a)		7,948		8,824,664
Oil & GasConocoPhillips, 6.50%, 02/01/39		29,236		43,311,804
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		7,225		8,669,336
4.95%, 03/15/26 (Call 12/15/25)		15,977		18,738,308
Oil & GasConocoPhillips Holding Co., 6.95%, 04/15/29		15,554		21,309,218
Continental Resources Inc./OK
3.80%, 06/01/24 (Call 03/01/24)^(a)		1,490		1,515,735
4.38%, 01/15/28 (Call 10/15/27)^(a)		14,908		14,517,735
4.50%, 04/15/23 (Call 01/15/23)^(a)		12,280		13,027,554
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)^(a)		2,374		2,458,491
5.00%, 06/15/45 (Call 12/15/44)^(a)		10,529		11,359,773


Security	Par (000)		Value

Oil & Gas (continued)
5.60%, 07/15/41 (Call 01/15/41)^(a)	$	15,206	$	17,428,571
Diamondback Energy Inc.
2.88%, 12/01/24 (Call 11/01/24)^(a)		10,350		10,452,405
3.25%, 12/01/26 (Call 10/01/26)^(a)		10,604		10,751,608
3.50%, 12/01/29 (Call 09/01/29)^(a)		13,016		12,914,605
5.38%, 05/31/25 (Call 05/31/20)^(a)		1,040		1,085,500
EOG Resources Inc.
2.63%, 03/15/23 (Call 12/15/22)		1,855		1,912,468
4.15%, 01/15/26 (Call 10/15/25)^(a)		12,412		13,947,516
Equinor ASA
2.65%, 01/15/24		7,489		7,822,800
3.25%, 11/18/49 (Call 05/18/49)^(a)		10,294		10,926,437
3.63%, 09/10/28 (Call 06/10/28)^(a)		2,946		3,308,855
3.70%, 03/01/24^(a)		8,995		9,748,053
3.95%, 05/15/43^(a)		8,271		9,602,060
4.80%, 11/08/43^(a)		7,687		10,084,409
5.10%, 08/17/40^(a)		7,898		10,466,956
Exxon Mobil Corp.
2.02%, 08/16/24 (Call 07/16/24)^(a)		7,291		7,441,156
2.28%, 08/16/26 (Call 06/16/26)		16,155		16,602,216
2.44%, 08/16/29 (Call 05/16/29)		13,284		13,799,584
2.71%, 03/06/25 (Call 12/06/24)^(a)		17,385		18,253,165
2.73%, 03/01/23 (Call 01/01/23)		1,894		1,962,960
3.00%, 08/16/39 (Call 02/16/39)^(a)		5,600		5,849,899
3.04%, 03/01/26 (Call 12/01/25)^(a)		27,110		29,171,572
3.10%, 08/16/49 (Call 02/16/49)^(a)		17,112		17,634,250
3.18%, 03/15/24 (Call 12/15/23)		2,396		2,543,871
3.57%, 03/06/45 (Call 09/06/44)^(a)		10,343		11,484,757
4.11%, 03/01/46 (Call 09/01/45)^(a)		26,648		32,379,630
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)^(a)		4,506		4,779,927
5.60%, 02/15/41^(a)		13,753		14,837,896
6.00%, 01/15/40^(a)		7,838		8,754,315
Husky Energy Inc.
4.00%, 04/15/24 (Call 01/15/24)^(a)		340		365,699
4.40%, 04/15/29 (Call 01/15/29)^(a)		11,518		12,420,571
Marathon Oil Corp.
3.85%, 06/01/25 (Call 03/01/25)^(a)		7,909		8,357,337
4.40%, 07/15/27 (Call 04/15/27)^(a)		11,888		13,017,800
6.60%, 10/01/37^(a)		7,754		9,430,039
Marathon Petroleum Corp.
3.63%, 09/15/24 (Call 06/15/24)^(a)		4,862		5,175,850
4.75%, 09/15/44 (Call 03/15/44)^(a)		8,208		9,178,456
6.50%, 03/01/41 (Call 09/01/40)		13,290		17,830,541
Oil & GasNewfield Exploration Co., 5.63%, 07/01/24^(a)		8,240		9,146,850
Noble Energy Inc.
5.05%, 11/15/44 (Call 05/15/44)^(a)		8,074		8,325,101
5.25%, 11/15/43 (Call 05/15/43)^(a)		10,609		11,205,761
6.00%, 03/01/41 (Call 09/01/40)^(a)		9,030		10,444,953
Occidental Petroleum Corp.
2.90%, 08/15/24 (Call 07/15/24)^(a)		30,940		31,309,764
3.00%, 02/15/27 (Call 11/15/26)^(a)		7,804		7,798,721
3.20%, 08/15/26 (Call 06/15/26)		11,840		12,058,595
3.40%, 04/15/26 (Call 01/15/26)^(a)		13,050		13,349,756
3.50%, 06/15/25 (Call 03/15/25)^(a)		11,105		11,592,854
3.50%, 08/15/29 (Call 05/15/29)^(a)		17,380		17,463,905
4.10%, 02/15/47 (Call 08/15/46)		7,400		6,656,240
4.20%, 03/15/48 (Call 09/15/47)^(a)		9,272		8,614,967
4.30%, 08/15/39 (Call 02/15/39)^(a)		5,653		5,507,851
4.40%, 04/15/46 (Call 10/15/45)^(a)		13,124		12,017,647


Security	Par (000)		Value

Oil & Gas (continued)
4.40%, 08/15/49 (Call 02/15/49)^(a)	$	8,895	$	8,462,000
4.63%, 06/15/45 (Call 12/15/44)		7,278		7,001,637
5.55%, 03/15/26 (Call 12/15/25)		12,623		14,463,640
6.45%, 09/15/36^(a)		18,237		21,515,954
6.60%, 03/15/46 (Call 09/15/45)		10,597		12,816,392
7.50%, 05/01/31		8,406		11,585,985
Oil & GasOvintiv Inc., 6.50%, 08/15/34^(a)		7,317		7,934,409
Phillips 66
3.90%, 03/15/28 (Call 12/15/27)^(a)		8,010		8,872,188
4.65%, 11/15/34 (Call 05/15/34)^(a)		10,966		13,387,918
4.88%, 11/15/44 (Call 05/15/44)^(a)		17,932		21,576,164
5.88%, 05/01/42^(a)		15,400		21,372,795
Shell International Finance BV
2.00%, 11/07/24 (Call 10/07/24)^(a)		15,663		15,936,581
2.38%, 11/07/29 (Call 08/07/29)^(a)		17,909		18,217,373
2.50%, 09/12/26^(a)		9,377		9,790,101
2.88%, 05/10/26^(a)		19,055		20,298,396
3.13%, 11/07/49 (Call 05/07/49)^(a)		13,250		13,599,886
3.25%, 05/11/25^(a)		25,167		27,203,259
3.40%, 08/12/23^(a)		5,291		5,644,494
3.50%, 11/13/23 (Call 10/13/23)		5,411		5,792,937
3.75%, 09/12/46^(a)		14,676		16,664,183
3.88%, 11/13/28 (Call 08/13/28)		21,816		24,698,720
4.00%, 05/10/46		24,559		28,899,118
4.13%, 05/11/35		12,773		15,445,771
4.38%, 05/11/45		32,825		40,434,137
4.55%, 08/12/43^(a)		14,593		18,295,033
5.50%, 03/25/40^(a)		1,609		2,256,877
6.38%, 12/15/38		29,425		44,470,653
Suncor Energy Inc.
3.60%, 12/01/24 (Call 09/01/24)^(a)		8,039		8,707,777
4.00%, 11/15/47 (Call 05/15/47)^(a)		6,826		7,565,992
6.50%, 06/15/38		11,030		15,357,844
6.80%, 05/15/38		10,050		14,410,067
6.85%, 06/01/39		7,913		11,501,406
Oil & GasTotal Capital Canada Ltd., 2.75%, 07/15/23^(a)		4,254		4,440,897
Total Capital International SA
2.43%, 01/10/25 (Call 10/10/24)^(a)		13,435		13,944,428
2.83%, 01/10/30 (Call 10/10/29)^(a)		13,296		14,054,679
3.46%, 02/19/29 (Call 11/19/28)^(a)		11,475		12,700,026
3.46%, 07/12/49 (Call 01/12/49)^(a)		11,273		12,249,432
3.70%, 01/15/24^(a)		9,889		10,716,472
3.75%, 04/10/24^(a)		10,540		11,439,022
Oil & GasTotal Capital SA, 3.88%, 10/11/28		13,421		15,316,534
Valero Energy Corp.
3.40%, 09/15/26 (Call 06/15/26)^(a)		16,682		17,887,777
4.00%, 04/01/29 (Call 01/01/29)^(a)		13,705		14,810,300
4.35%, 06/01/28 (Call 03/01/28)^(a)		853		950,749
6.63%, 06/15/37^(a)		15,589		20,603,723
7.50%, 04/15/32^(a)		8,364		11,602,366


				1,808,788,530

Oil & Gas Services — 0.5%
Oil & Gas ServicesBaker Hughes a GE Co. LLC, 5.13%, 09/15/40^(a)		9,408		11,452,909
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc.
3.34%, 12/15/27 (Call 09/15/27)^(a)		22,088		23,152,003
4.08%, 12/15/47 (Call 06/15/47)^(a)		15,228		16,324,210
Halliburton Co.
3.50%, 08/01/23 (Call 05/01/23)		2,098		2,208,852


Security	Par (000)		Value

Oil & Gas Services (continued)
3.80%, 11/15/25 (Call 08/15/25)^(a)	$	25,169	$	27,567,120
4.75%, 08/01/43 (Call 02/01/43)^(a)		9,017		9,736,185
4.85%, 11/15/35 (Call 05/15/35)^(a)		9,520		11,035,630
5.00%, 11/15/45 (Call 05/15/45)		19,333		20,782,722
6.70%, 09/15/38^(a)		9,825		12,809,678
7.45%, 09/15/39^(a)		10,007		14,087,367
Oil & Gas ServicesSchlumberger Investment SA, 3.65%, 12/01/23 (Call 09/01/23)		12,609		13,459,047


				162,615,723

Packaging & Containers — 0.1%
WRKCo Inc.
4.65%, 03/15/26 (Call 01/15/26)^(a)		9,511		10,889,921
4.90%, 03/15/29 (Call 12/15/28)^(a)		6,779		7,992,490


				18,882,411

Pharmaceuticals — 9.4%
AbbVie Inc.
2.60%, 11/21/24 (Call 10/21/24)^(a)(b)		37,334		38,606,746
2.85%, 05/14/23 (Call 03/14/23)^(a)		12,837		13,320,257
2.95%, 11/21/26 (Call 09/21/26)^(b)		40,381		42,352,893
3.20%, 05/14/26 (Call 02/14/26)^(a)		22,224		23,586,158
3.20%, 11/21/29 (Call 08/21/29)^(a)(b)		56,814		60,059,051
3.60%, 05/14/25 (Call 02/14/25)^(a)		41,421		44,666,737
3.75%, 11/14/23 (Call 10/14/23)^(a)		8,049		8,618,212
4.05%, 11/21/39 (Call 05/21/39)^(b)		41,820		46,443,485
4.25%, 11/14/28 (Call 08/14/28)^(a)		20,234		23,065,536
4.25%, 11/21/49 (Call 05/21/49)^(a)(b)		63,153		70,916,120
4.30%, 05/14/36 (Call 11/14/35)^(a)		7,702		8,894,387
4.40%, 11/06/42^(a)		27,339		31,596,549
4.45%, 05/14/46 (Call 11/14/45)^(a)		21,542		24,803,765
4.50%, 05/14/35 (Call 11/14/34)		24,816		29,179,849
4.70%, 05/14/45 (Call 11/14/44)^(a)		27,030		31,878,068
4.88%, 11/14/48 (Call 05/14/48)^(a)		18,501		22,736,023
PharmaceuticalsAllergan Finance LLC, 3.25%, 10/01/22 (Call 07/01/22)		7,144		7,416,116
Allergan Funding SCS
3.45%, 03/15/22 (Call 01/15/22)		2,953		3,057,772
3.80%, 03/15/25 (Call 12/15/24)^(a)		43,057		46,852,014
3.85%, 06/15/24 (Call 03/15/24)		12,685		13,701,084
4.55%, 03/15/35 (Call 09/15/34)		19,731		23,212,016
4.75%, 03/15/45 (Call 09/15/44)		11,110		13,340,501
4.85%, 06/15/44 (Call 12/15/43)		12,101		14,329,066
PharmaceuticalsAmerisourceBergen Corp., 3.45%, 12/15/27 (Call 09/15/27)		5,863		6,359,639
AstraZeneca PLC
3.13%, 06/12/27 (Call 03/12/27)		8,164		8,778,575
3.38%, 11/16/25^(a)		24,840		27,099,553
3.50%, 08/17/23 (Call 07/17/23)^(a)		1,966		2,097,272
4.00%, 01/17/29 (Call 10/17/28)^(a)		10,189		11,795,921
4.00%, 09/18/42		11,825		14,146,828
4.38%, 11/16/45^(a)		8,480		10,781,475
4.38%, 08/17/48 (Call 02/17/48)^(a)		5,657		7,279,637
6.45%, 09/15/37^(a)		30,418		45,360,560
Becton Dickinson and Co.
3.36%, 06/06/24 (Call 04/06/24)^(a)		15,531		16,536,941
3.70%, 06/06/27 (Call 03/06/27)		21,502		23,683,726
3.73%, 12/15/24 (Call 09/15/24)		16,077		17,432,056
4.67%, 06/06/47 (Call 12/06/46)^(a)		13,944		17,860,068
4.69%, 12/15/44 (Call 06/15/44)		10,187		12,720,298


Security	Par (000)		Value

Pharmaceuticals (continued)
Bristol-Myers Squibb Co.
2.90%, 07/26/24 (Call 06/26/24)^(b)	$	38,175	$	40,206,422
3.20%, 06/15/26 (Call 04/15/26)^(a)(b)		28,720		31,364,394
3.25%, 02/27/27		6,628		7,273,128
3.40%, 07/26/29 (Call 04/26/29)^(a)(b)		39,136		43,873,612
3.45%, 11/15/27 (Call 08/15/27)^(a)(b)		7,586		8,422,907
3.63%, 05/15/24 (Call 02/15/24)^(b)		13,536		14,599,866
3.88%, 08/15/25 (Call 05/15/25)^(a)(b)		28,950		32,061,589
3.90%, 02/20/28 (Call 11/20/27)^(a)(b)		20,445		23,194,773
4.13%, 06/15/39 (Call 12/15/38)^(a)(b)		18,900		22,928,673
4.25%, 10/26/49 (Call 04/26/49)^(a)(b)		39,661		50,852,874
4.35%, 11/15/47 (Call 05/15/47)^(b)		12,113		15,465,635
4.55%, 02/20/48 (Call 08/20/47)^(a)(b)		14,329		18,758,578
4.63%, 05/15/44 (Call 11/15/43)^(a)(b)		8,395		10,866,750
5.00%, 08/15/45 (Call 02/15/45)^(a)(b)		19,858		27,116,580
Cardinal Health Inc.
3.08%, 06/15/24 (Call 04/15/24)^(a)		7,561		7,944,965
3.41%, 06/15/27 (Call 03/15/27)^(a)		12,489		13,271,137
Cigna Corp.
3.00%, 07/15/23 (Call 05/16/23)^(b)		1,852		1,930,287
3.25%, 04/15/25 (Call 01/15/25)^(b)		13,547		14,491,920
3.40%, 03/01/27 (Call 12/01/26)^(b)		8,356		8,984,604
3.75%, 07/15/23 (Call 06/15/23)^(a)		25,988		27,693,603
3.88%, 10/15/47 (Call 04/15/47)^(a)(b)		8,956		9,540,309
4.13%, 11/15/25 (Call 09/15/25)^(a)		32,319		35,947,315
4.38%, 10/15/28 (Call 07/15/28)^(a)		39,899		45,417,287
4.50%, 02/25/26 (Call 11/27/25)^(a)(b)		13,888		15,688,633
4.80%, 08/15/38 (Call 02/15/38)		22,006		26,466,508
4.80%, 07/15/46 (Call 01/16/46)^(a)(b)		13,785		16,527,865
4.90%, 12/15/48 (Call 06/15/48)^(a)		30,966		38,326,977
CVS Health Corp.
2.63%, 08/15/24 (Call 07/15/24)^(a)		10,086		10,416,960
2.88%, 06/01/26 (Call 03/01/26)		18,288		19,013,207
3.00%, 08/15/26 (Call 06/15/26)^(a)		1,280		1,341,742
3.25%, 08/15/29 (Call 05/15/29)^(a)		5,178		5,447,481
3.70%, 03/09/23 (Call 02/09/23)^(a)		43,554		45,932,893
3.88%, 07/20/25 (Call 04/20/25)^(a)		26,684		29,061,136
4.00%, 12/05/23 (Call 09/05/23)		4,866		5,237,484
4.10%, 03/25/25 (Call 01/25/25)^(a)		61,151		66,997,763
4.30%, 03/25/28 (Call 12/25/27)^(a)		93,208		104,131,101
4.78%, 03/25/38 (Call 09/25/37)		56,216		66,106,784
5.05%, 03/25/48 (Call 09/25/47)		88,426		108,843,572
5.13%, 07/20/45 (Call 01/20/45)^(a)		38,489		47,064,222
5.30%, 12/05/43 (Call 06/05/43)		2,222		2,755,253
Eli Lilly & Co.
3.38%, 03/15/29 (Call 12/15/28)^(a)		13,944		15,545,779
3.95%, 03/15/49 (Call 09/15/48)^(a)		12,639		15,501,893
4.15%, 03/15/59 (Call 09/15/58)		10,607		13,320,838
GlaxoSmithKline Capital Inc.
2.80%, 03/18/23^(a)		11,397		11,904,880
3.38%, 05/15/23^(a)		3,306		3,508,616
3.63%, 05/15/25^(a)		9,840		10,878,273
3.88%, 05/15/28^(a)		19,108		21,922,341
6.38%, 05/15/38		28,818		43,201,251
GlaxoSmithKline Capital PLC
3.00%, 06/01/24 (Call 05/01/24)		9,063		9,639,084
3.38%, 06/01/29 (Call 03/01/29)		10,521		11,701,725
Johnson & Johnson
2.45%, 03/01/26 (Call 12/01/25)^(a)		21,161		22,265,077
2.63%, 01/15/25 (Call 11/15/24)^(a)		7,616		8,067,815


Security	Par (000)		Value

Pharmaceuticals (continued)
2.90%, 01/15/28 (Call 10/15/27)^(a)	$	16,561	$	18,042,564
2.95%, 03/03/27 (Call 12/03/26)^(a)		13,323		14,520,790
3.38%, 12/05/23^(a)		8,712		9,463,886
3.40%, 01/15/38 (Call 07/15/37)^(a)		10,599		12,051,083
3.50%, 01/15/48 (Call 07/15/47)^(a)		12,332		14,692,894
3.55%, 03/01/36 (Call 09/01/35)^(a)		9,918		11,509,921
3.63%, 03/03/37 (Call 09/03/36)^(a)		16,077		18,841,480
3.70%, 03/01/46 (Call 09/01/45)^(a)		17,287		20,971,463
3.75%, 03/03/47 (Call 09/03/46)^(a)		9,411		11,532,194
4.38%, 12/05/33 (Call 06/05/33)		13,601		17,088,394
5.95%, 08/15/37^(a)		10,851		16,356,758
PharmaceuticalsMead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)^(a)		6,145		6,892,424
Merck & Co. Inc.
2.75%, 02/10/25 (Call 11/10/24)^(a)		24,924		26,377,361
2.80%, 05/18/23^(a)		22,208		23,193,891
2.90%, 03/07/24 (Call 02/07/24)^(a)		7,771		8,237,378
3.40%, 03/07/29 (Call 12/07/28)^(a)		18,228		20,401,705
3.70%, 02/10/45 (Call 08/10/44)^(a)		22,301		26,514,058
3.90%, 03/07/39 (Call 09/07/38)^(a)		8,378		10,218,339
4.00%, 03/07/49 (Call 09/07/48)^(a)		13,955		17,620,764
4.15%, 05/18/43^(a)		13,871		17,622,105
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)^(a)		10,299		11,503,417
5.20%, 04/15/48 (Call 10/15/47)^(a)		6,509		7,545,823
Mylan NV
3.95%, 06/15/26 (Call 03/15/26)		21,478		23,198,796
3.95%, 06/15/26 (Call 03/15/26)^(b)		1,922		2,082,583
5.25%, 06/15/46 (Call 12/15/45)^(a)		9,661		11,234,088
Novartis Capital Corp.
1.75%, 02/14/25 (Call 01/14/25)		10,000		10,176,421
2.00%, 02/14/27 (Call 12/14/26)		10,000		10,227,977
2.20%, 08/14/30 (Call 05/14/30)		15,000		15,475,823
2.75%, 08/14/50 (Call 02/14/50)		15,000		15,558,302
3.00%, 11/20/25 (Call 08/20/25)^(a)		16,600		17,958,939
3.10%, 05/17/27 (Call 02/17/27)^(a)		10,958		11,938,382
3.40%, 05/06/24^(a)		12,067		13,067,257
4.00%, 11/20/45 (Call 05/20/45)^(a)		11,229		14,099,717
4.40%, 05/06/44^(a)		20,785		27,184,386
Pfizer Inc.
2.75%, 06/03/26^(a)		15,697		16,805,811
2.95%, 03/15/24 (Call 02/15/24)^(a)		4,249		4,494,966
3.00%, 06/15/23^(a)		9,623		10,164,059
3.00%, 12/15/26^(a)		18,273		19,845,448
3.20%, 09/15/23 (Call 08/15/23)^(a)		4,457		4,738,061
3.40%, 05/15/24^(a)		11,780		12,752,808
3.45%, 03/15/29 (Call 12/15/28)^(a)		20,394		22,820,609
3.60%, 09/15/28 (Call 06/15/28)		13,435		15,243,716
3.90%, 03/15/39 (Call 09/15/38)^(a)		8,199		9,819,385
4.00%, 12/15/36^(a)		3,346		4,002,215
4.00%, 03/15/49 (Call 09/15/48)^(a)		11,724		14,547,431
4.13%, 12/15/46		11,193		13,913,580
4.20%, 09/15/48 (Call 03/15/48)^(a)		11,619		14,687,766
4.30%, 06/15/43		9,000		11,348,343
4.40%, 05/15/44		11,486		14,683,986
7.20%, 03/15/39^(a)		24,836		41,547,345
Sanofi
3.38%, 06/19/23 (Call 05/19/23)^(a)		7,847		8,363,960
3.63%, 06/19/28 (Call 03/19/28)^(a)		3,367		3,855,270


Security	Par (000)		Value

Pharmaceuticals (continued)
Shire Acquisitions Investments Ireland DAC
2.88%, 09/23/23 (Call 07/23/23)	$	15,827	$	16,427,597
3.20%, 09/23/26 (Call 06/23/26)^(a)		32,162		34,490,587
Takeda Pharmaceutical Co. Ltd.
4.40%, 11/26/23 (Call 10/26/23)		9,512		10,436,644
5.00%, 11/26/28 (Call 08/26/28)^(a)		19,110		23,301,656
Wyeth LLC
5.95%, 04/01/37^(a)		23,445		33,991,417
6.50%, 02/01/34		11,487		17,170,386
Zoetis Inc.
3.00%, 09/12/27 (Call 06/12/27)		12,811		13,706,685
3.25%, 02/01/23 (Call 11/01/22)		7,594		7,969,886
4.50%, 11/13/25 (Call 08/13/25)^(a)		7,166		8,186,927
4.70%, 02/01/43 (Call 08/01/42)^(a)		9,561		12,275,396


				3,108,582,618

Pipelines — 3.8%
Cheniere Corpus Christi Holdings LLC
3.70%, 11/15/29 (Call 05/18/29)^(b)		16,700		16,718,621
5.13%, 06/30/27 (Call 01/01/27)		16,517		17,995,452
5.88%, 03/31/25 (Call 10/02/24)		16,092		18,047,537
7.00%, 06/30/24 (Call 01/01/24)		8,439		9,667,323
PipelinesEnable Midstream Partners LP, 4.95%, 05/15/28 (Call 02/15/28)^(a)		8,904		9,021,385
Enbridge Inc.
3.13%, 11/15/29 (Call 08/15/29)^(a)		12,337		12,786,909
4.00%, 10/01/23 (Call 07/01/23)^(a)		4,785		5,138,074
4.25%, 12/01/26 (Call 09/01/26)^(a)		11,960		13,526,327
5.50%, 12/01/46 (Call 06/01/46)		7,897		10,535,464
Energy Transfer Operating LP
2.90%, 05/15/25 (Call 04/15/25)		15,960		16,255,199
3.75%, 05/15/30 (Call 02/15/30)		17,935		18,177,644
4.05%, 03/15/25 (Call 12/15/24)^(a)		10,994		11,763,518
4.25%, 03/15/23 (Call 12/15/22)		2,727		2,888,265
4.50%, 04/15/24 (Call 03/15/24)		9,130		9,873,103
4.75%, 01/15/26 (Call 10/15/25)^(a)		11,469		12,644,891
4.95%, 06/15/28 (Call 03/15/28)^(a)		9,575		10,546,615
5.00%, 05/15/50 (Call 11/15/49)		23,275		23,509,179
5.15%, 03/15/45 (Call 09/15/44)		5,075		5,153,104
5.25%, 04/15/29 (Call 01/15/29)^(a)		20,268		22,780,612
5.30%, 04/15/47 (Call 10/15/46)^(a)		8,633		8,961,269
5.50%, 06/01/27 (Call 03/01/27)^(a)		8,002		9,155,368
5.88%, 01/15/24 (Call 10/15/23)^(a)		7,117		7,981,372
6.13%, 12/15/45 (Call 06/15/45)^(a)		11,267		12,677,995
6.25%, 04/15/49 (Call 10/15/48)^(a)		17,145		19,807,716
6.50%, 02/01/42 (Call 08/01/41)^(a)		8,665		10,161,518
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)		10,870		12,237,042
Enterprise Products Operating LLC
2.80%, 01/31/30 (Call 10/31/29)^(a)		12,315		12,591,176
3.13%, 07/31/29 (Call 04/30/29)^(a)		13,701		14,310,722
3.35%, 03/15/23 (Call 12/15/22)^(a)		8,715		9,144,324
3.70%, 02/15/26 (Call 11/15/25)^(a)		12,735		13,943,029
3.70%, 01/31/51 (Call 07/31/50)		6,650		6,613,337
3.75%, 02/15/25 (Call 11/15/24)^(a)		15,312		16,622,335
3.90%, 02/15/24 (Call 11/15/23)^(a)		5,116		5,509,919
3.95%, 01/31/60 (Call 07/31/59)^(a)		7,299		7,170,336
4.15%, 10/16/28 (Call 07/16/28)		11,488		12,943,773
4.20%, 01/31/50 (Call 07/31/49)^(a)		13,177		14,027,762
4.25%, 02/15/48 (Call 08/15/47)^(a)		15,042		16,019,873
4.45%, 02/15/43 (Call 08/15/42)^(a)		12,709		14,291,945
4.80%, 02/01/49 (Call 08/01/48)		12,802		14,885,532


Security	Par (000)		Value

Pipelines (continued)
4.85%, 08/15/42 (Call 02/15/42)^(a)	$	9,639	$	11,305,149
4.85%, 03/15/44 (Call 09/15/43)^(a)		13,417		15,337,564
4.90%, 05/15/46 (Call 11/15/45)^(a)		11,631		13,707,321
5.10%, 02/15/45 (Call 08/15/44)^(a)		11,904		14,321,663
5.95%, 02/01/41		6,680		8,537,383
Kinder Morgan Energy Partners LP
5.50%, 03/01/44 (Call 09/01/43)		7,749		9,189,951
6.95%, 01/15/38		11,079		14,857,493
Kinder Morgan Inc./DE
4.30%, 06/01/25 (Call 03/01/25)^(a)		12,269		13,530,939
4.30%, 03/01/28 (Call 12/01/27)^(a)		13,760		15,355,283
5.05%, 02/15/46 (Call 08/15/45)^(a)		10,339		11,559,522
5.20%, 03/01/48 (Call 09/01/47)^(a)		10,253		12,013,138
5.30%, 12/01/34 (Call 06/01/34)^(a)		2,129		2,552,761
5.55%, 06/01/45 (Call 12/01/44)^(a)		20,160		23,960,033
7.75%, 01/15/32		7,018		10,219,351
MPLX LP
4.00%, 03/15/28 (Call 12/15/27)^(a)		14,445		15,112,508
4.13%, 03/01/27 (Call 12/01/26)^(a)		13,131		14,088,081
4.50%, 07/15/23 (Call 04/15/23)^(a)		3,133		3,390,127
4.50%, 04/15/38 (Call 10/15/37)^(a)		17,238		17,534,856
4.70%, 04/15/48 (Call 10/15/47)^(a)		15,609		15,852,084
4.80%, 02/15/29 (Call 11/15/28)^(a)		11,018		12,342,909
4.88%, 12/01/24 (Call 09/01/24)^(a)		12,071		13,381,994
4.88%, 06/01/25 (Call 03/01/25)		14,254		15,866,059
5.20%, 03/01/47 (Call 09/01/46)^(a)		9,963		10,941,563
5.50%, 02/15/49 (Call 08/15/48)^(a)		14,878		16,687,684
ONEOK Inc.
3.40%, 09/01/29 (Call 06/01/29)^(a)		7,652		7,919,717
4.45%, 09/01/49 (Call 03/01/49)^(a)		7,191		7,328,403
4.55%, 07/15/28 (Call 04/15/28)^(a)		16,175		18,079,050
5.20%, 07/15/48 (Call 01/15/48)		8,850		10,054,279
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/29 (Call 09/15/29)^(a)		9,802		9,621,916
3.60%, 11/01/24 (Call 08/01/24)^(a)		8,645		9,004,612
4.50%, 12/15/26 (Call 09/15/26)^(a)		9,093		9,905,178
4.65%, 10/15/25 (Call 07/15/25)^(a)		12,194		13,278,166
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)		16,377		17,385,394
5.00%, 03/15/27 (Call 09/15/26)^(a)		14,233		15,724,280
5.63%, 04/15/23 (Call 01/15/23)^(a)		14,302		15,697,982
5.63%, 03/01/25 (Call 12/01/24)^(a)		14,940		16,985,172
5.75%, 05/15/24 (Call 02/15/24)^(a)		19,830		22,305,413
5.88%, 06/30/26 (Call 12/31/25)		21,415		24,848,827
PipelinesSpectra Energy Partners LP, 4.75%, 03/15/24 (Call 12/15/23)^(a)		5,603		6,191,225
Sunoco Logistics Partners Operations LP
4.00%, 10/01/27 (Call 07/01/27)^(a)		3,780		3,969,559
5.35%, 05/15/45 (Call 11/15/44)		9,515		9,926,809
5.40%, 10/01/47 (Call 04/01/47)		16,848		17,803,512
TransCanada PipeLines Ltd.
4.25%, 05/15/28 (Call 02/15/28)^(a)		17,784		20,022,485
4.63%, 03/01/34 (Call 12/01/33)		14,883		17,262,181
4.88%, 01/15/26 (Call 10/15/25)		3,089		3,552,196
4.88%, 05/15/48 (Call 11/15/47)^(a)		10,995		13,126,715
5.10%, 03/15/49 (Call 09/15/48)		9,723		12,065,156
6.10%, 06/01/40^(a)		6,539		8,874,962
6.20%, 10/15/37^(a)		10,347		14,023,888
7.63%, 01/15/39^(a)		13,286		20,222,465


Security	Par (000)		Value

Pipelines (continued)
PipelinesTranscontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)^(a)	$	12,251	$	15,829,597
Western Midstream Operating LP
3.10%, 02/01/25 (Call 01/01/25)^(a)		3,660		3,652,711
4.05%, 02/01/30 (Call 11/01/29)		12,375		12,145,122
5.25%, 02/01/50 (Call 08/01/49)^(a)		6,150		5,699,870
Williams Companies Inc. (The)
3.75%, 06/15/27 (Call 03/15/27)^(a)		16,882		17,781,686
3.90%, 01/15/25 (Call 10/15/24)^(a)		10,317		11,045,502
4.00%, 09/15/25 (Call 06/15/25)^(a)		9,954		10,775,243
4.30%, 03/04/24 (Call 12/04/23)^(a)		4,986		5,403,685
4.55%, 06/24/24 (Call 03/24/24)^(a)		1,921		2,109,559
4.85%, 03/01/48 (Call 09/01/47)^(a)		9,396		9,933,366
5.10%, 09/15/45 (Call 03/15/45)^(a)		10,146		11,135,203
6.30%, 04/15/40^(a)		12,509		14,984,566


				1,263,406,633

Real Estate Investment Trusts — 1.5%
Real Estate Investment TrustsAlexandria Real Estate Equities Inc., 3.38%, 08/15/31 (Call 05/15/31)		7,036		7,778,386
American Tower Corp.
2.40%, 03/15/25 (Call 02/15/25)		8,770		9,014,803
2.75%, 01/15/27 (Call 11/15/26)^(a)		5,600		5,842,010
2.90%, 01/15/30 (Call 10/15/29)^(a)		8,155		8,472,507
3.38%, 10/15/26 (Call 07/15/26)^(a)		8,889		9,613,539
3.55%, 07/15/27 (Call 04/15/27)^(a)		7,375		7,991,308
3.80%, 08/15/29 (Call 05/15/29)^(a)		17,445		19,276,887
4.00%, 06/01/25 (Call 03/01/25)^(a)		7,851		8,630,231
5.00%, 02/15/24^(a)		12,269		13,791,195
Boston Properties LP
2.75%, 10/01/26 (Call 07/01/26)		14,858		15,629,298
3.20%, 01/15/25 (Call 10/15/24)^(a)		10,486		11,173,174
3.40%, 06/21/29 (Call 03/21/29)		9,790		10,717,326
3.65%, 02/01/26 (Call 11/03/25)^(a)		11,763		12,856,598
3.85%, 02/01/23 (Call 11/01/22)		2,369		2,514,961
4.50%, 12/01/28 (Call 09/01/28)^(a)		5,624		6,637,856
Real Estate Investment TrustsBrixmor Operating Partnership LP, 4.13%, 05/15/29 (Call 02/15/29)^(a)		4,721		5,300,761
Real Estate Investment TrustsCC Holdings GS V LLC/Crown Castle GS III Corp., 3.85%, 04/15/23		9,757		10,386,496
Crown Castle International Corp.
3.15%, 07/15/23 (Call 06/15/23)		3,194		3,334,001
3.20%, 09/01/24 (Call 07/01/24)^(a)		8,047		8,507,490
3.65%, 09/01/27 (Call 06/01/27)^(a)		9,437		10,316,205
3.70%, 06/15/26 (Call 03/15/26)		6,300		6,864,512
3.80%, 02/15/28 (Call 11/15/27)^(a)		12,855		14,136,448
4.45%, 02/15/26 (Call 11/15/25)		8,009		9,105,730
Digital Realty Trust LP
3.60%, 07/01/29 (Call 04/01/29)^(a)		5,806		6,322,105
3.70%, 08/15/27 (Call 05/15/27)^(a)		12,408		13,707,646
Equinix Inc.
2.63%, 11/18/24 (Call 10/18/24)		3,815		3,916,336
3.20%, 11/18/29 (Call 08/18/29)^(a)		21,480		22,612,640
5.38%, 05/15/27 (Call 05/15/22)		2,981		3,217,244
5.88%, 01/15/26 (Call 01/15/21)		1,691		1,788,588
Real Estate Investment TrustsERP Operating LP,
4.50%, 07/01/44 (Call 01/01/44)		6,658		8,580,508
GLP Capital LP/GLP Financing II Inc.
5.25%, 06/01/25 (Call 03/01/25)		9,206		10,396,015
5.30%, 01/15/29 (Call 10/15/28)^(a)		7,916		9,246,553
5.38%, 04/15/26 (Call 01/15/26)^(a)		9,240		10,510,980


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Healthpeak Properties Inc.
3.00%, 01/15/30 (Call 10/15/29)	$	3,629	$	3,828,457
3.88%, 08/15/24 (Call 05/17/24)^(a)		9,724		10,549,675
4.00%, 06/01/25 (Call 03/01/25)^(a)		10,213		11,325,103
Real Estate Investment TrustsPrologis LP, 2.25%, 04/15/30 (Call 01/15/30)		10,000		10,041,281
Real Estate Investment TrustsRealty Income Corp., 4.65%, 08/01/23 (Call 05/01/23)		2,555		2,808,115
Simon Property Group LP
2.00%, 09/13/24 (Call 06/13/24)^(a)		11,300		11,503,596
2.45%, 09/13/29 (Call 06/13/29)^(a)		14,983		15,276,791
3.25%, 11/30/26 (Call 08/30/26)^(a)		1,909		2,077,875
3.25%, 09/13/49 (Call 03/13/49)^(a)		12,239		12,783,547
3.30%, 01/15/26 (Call 10/15/25)		9,000		9,728,266
3.38%, 10/01/24 (Call 07/01/24)		12,787		13,733,182
3.38%, 06/15/27 (Call 03/15/27)^(a)		8,870		9,675,687
3.38%, 12/01/27 (Call 09/01/27)^(a)		6,937		7,558,455
Real Estate Investment TrustsVentas Realty LP, 4.40%, 01/15/29 (Call 10/15/28)^(a)		5,023		5,782,336
Welltower Inc.
3.10%, 01/15/30 (Call 10/15/29)^(a)		3,471		3,705,093
3.63%, 03/15/24 (Call 02/15/24)^(a)		6,963		7,493,244
4.00%, 06/01/25 (Call 03/01/25)^(a)		22,469		24,771,488
4.25%, 04/15/28 (Call 01/15/28)		6,047		6,893,455
Weyerhaeuser Co.
4.00%, 11/15/29 (Call 08/15/29)^(a)		2,428		2,751,137
7.38%, 03/15/32		14,565		21,007,286


				501,484,406

Retail — 3.7%
Costco Wholesale Corp.
2.75%, 05/18/24 (Call 03/18/24)		10,448		11,041,747
3.00%, 05/18/27 (Call 02/18/27)		4,924		5,376,481
RetailDollar General Corp., 3.25%, 04/15/23 (Call 01/15/23)^(a)		3,674		3,856,887
Dollar Tree Inc.
3.70%, 05/15/23 (Call 04/15/23)		14,217		15,093,708
4.00%, 05/15/25 (Call 03/15/25)^(a)		8,160		8,962,273
4.20%, 05/15/28 (Call 02/15/28)^(a)		16,027		17,854,062
Home Depot Inc. (The)
2.13%, 09/15/26 (Call 06/15/26)^(a)		9,762		10,107,773
2.70%, 04/01/23 (Call 01/01/23)		2,307		2,400,088
2.80%, 09/14/27 (Call 06/14/27)^(a)		13,848		14,785,069
2.95%, 06/15/29 (Call 03/15/29)^(a)		9,120		9,840,702
3.00%, 04/01/26 (Call 01/01/26)^(a)		13,561		14,646,128
3.13%, 12/15/49 (Call 06/15/49)		14,792		15,773,815
3.35%, 09/15/25 (Call 06/15/25)^(a)		13,312		14,600,399
3.50%, 09/15/56 (Call 03/15/56)^(a)		5,912		6,654,407
3.75%, 02/15/24 (Call 11/15/23)^(a)		10,904		11,871,552
3.90%, 12/06/28 (Call 09/06/28)^(a)		11,918		13,775,739
3.90%, 06/15/47 (Call 12/15/46)^(a)		10,768		12,829,975
4.20%, 04/01/43 (Call 10/01/42)		10,944		13,323,982
4.25%, 04/01/46 (Call 10/01/45)^(a)		16,833		20,937,130
4.40%, 03/15/45 (Call 09/15/44)^(a)		10,408		13,108,542
4.50%, 12/06/48 (Call 06/06/48)^(a)		15,823		20,646,229
4.88%, 02/15/44 (Call 08/15/43)		10,379		13,794,962
5.88%, 12/16/36^(a)		34,711		49,947,248
5.95%, 04/01/41 (Call 10/01/40)		13,574		20,089,187
Lowe’s Companies Inc.
2.50%, 04/15/26 (Call 01/15/26)^(a)		17,135		17,730,066
3.10%, 05/03/27 (Call 02/03/27)^(a)		14,777		15,802,375


Security	Par (000)		Value

Retail (continued)
3.38%, 09/15/25 (Call 06/15/25)^(a)	$	10,211	$	11,085,901
3.65%, 04/05/29 (Call 01/05/29)^(a)		16,374		18,149,983
3.70%, 04/15/46 (Call 10/15/45)^(a)		15,369		16,364,957
4.05%, 05/03/47 (Call 11/03/46)^(a)		17,570		19,686,391
4.38%, 09/15/45 (Call 03/15/45)		7,928		9,265,786
4.55%, 04/05/49 (Call 10/05/48)^(a)		16,241		19,924,490
4.65%, 04/15/42 (Call 10/15/41)^(a)		1,821		2,215,612
McDonald’s Corp.
2.63%, 09/01/29 (Call 06/01/29)		17,080		17,725,846
3.35%, 04/01/23 (Call 03/01/23)^(a)		9,750		10,303,867
3.50%, 03/01/27 (Call 12/01/26)^(a)		7,306		8,020,091
3.63%, 09/01/49 (Call 03/01/49)^(a)		9,309		10,073,990
3.70%, 01/30/26 (Call 10/30/25)^(a)		19,404		21,494,069
3.80%, 04/01/28 (Call 01/01/28)^(a)		11,857		13,318,643
4.45%, 03/01/47 (Call 09/01/46)		10,984		13,376,884
4.45%, 09/01/48 (Call 03/01/48)		9,021		11,016,941
4.70%, 12/09/35 (Call 06/09/35)^(a)		8,449		10,569,945
4.88%, 12/09/45 (Call 06/09/45)^(a)		13,043		16,654,081
6.30%, 10/15/37^(a)		10,427		14,868,411
6.30%, 03/01/38		8,187		11,791,458
RetailO’Reilly Automotive Inc., 3.60%, 09/01/27 (Call 06/01/27)^(a)		3,571		3,946,113
Starbucks Corp.
3.10%, 03/01/23 (Call 02/01/23)^(a)		2,254		2,360,236
3.55%, 08/15/29 (Call 05/15/29)^(a)		17,116		19,165,699
3.80%, 08/15/25 (Call 06/15/25)^(a)		18,853		20,776,877
3.85%, 10/01/23 (Call 07/01/23)^(a)		1,857		2,000,687
4.00%, 11/15/28 (Call 08/15/28)^(a)		11,270		12,994,506
4.45%, 08/15/49 (Call 02/15/49)^(a)		8,339		10,086,839
4.50%, 11/15/48 (Call 05/15/48)		10,468		12,811,323
Target Corp.
2.35%, 02/15/30 (Call 11/15/29)		3,775		3,882,692
2.50%, 04/15/26^(a)		11,477		12,169,221
3.38%, 04/15/29 (Call 01/15/29)^(a)		11,709		13,019,528
3.50%, 07/01/24^(a)		8,073		8,818,219
3.63%, 04/15/46^(a)		9,030		10,364,093
3.90%, 11/15/47 (Call 05/15/47)^(a)		7,589		9,234,335
4.00%, 07/01/42		18,139		22,151,332
RetailTJX Companies Inc. (The), 2.25%, 09/15/26 (Call 06/15/26)^(a)		6,964		7,248,300
Walgreens Boots Alliance Inc.
3.45%, 06/01/26 (Call 03/01/26)^(a)		21,627		22,757,586
3.80%, 11/18/24 (Call 08/18/24)^(a)		23,467		25,138,280
4.80%, 11/18/44 (Call 05/18/44)^(a)		14,198		14,976,770
Walmart Inc.
2.55%, 04/11/23 (Call 01/11/23)^(a)		3,567		3,703,375
2.65%, 12/15/24 (Call 10/15/24)^(a)		17,859		18,857,463
2.85%, 07/08/24 (Call 06/08/24)		21,317		22,633,338
2.95%, 09/24/49 (Call 03/24/49)^(a)		14,154		15,131,366
3.05%, 07/08/26 (Call 05/08/26)^(a)		13,244		14,401,968
3.25%, 07/08/29 (Call 04/08/29)^(a)		15,793		17,570,736
3.30%, 04/22/24 (Call 01/22/24)		17,849		19,175,813
3.40%, 06/26/23 (Call 05/26/23)^(a)		32,298		34,454,925
3.55%, 06/26/25 (Call 04/26/25)		17,495		19,264,143
3.63%, 12/15/47 (Call 06/15/47)		16,772		19,975,333
3.70%, 06/26/28 (Call 03/26/28)^(a)		32,846		37,272,655
3.95%, 06/28/38 (Call 12/28/37)^(a)		19,394		23,619,144
4.05%, 06/29/48 (Call 12/29/47)^(a)		34,792		44,032,286
5.25%, 09/01/35^(a)		21,541		30,217,846
5.63%, 04/01/40		4,045		5,989,543


Security	Par (000)		Value

Retail (continued)
5.63%, 04/15/41	$	8,755	$	13,090,051
6.20%, 04/15/38^(a)		5,523		8,470,919
6.50%, 08/15/37		641		1,001,160


				1,213,522,572

Semiconductors — 2.3%
Analog Devices Inc.
3.50%, 12/05/26 (Call 09/05/26)^(a)		8,602		9,457,530
3.90%, 12/15/25 (Call 09/15/25)		14,890		16,577,612
Applied Materials Inc.
3.30%, 04/01/27 (Call 01/01/27)^(a)		14,243		15,625,416
4.35%, 04/01/47 (Call 10/01/46)		10,247		13,299,222
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.13%, 01/15/25 (Call 11/15/24)^(a)		10,543		10,892,340
3.50%, 01/15/28 (Call 10/15/27)		12,891		13,245,755
3.63%, 01/15/24 (Call 11/15/23)^(a)		23,865		25,173,599
3.88%, 01/15/27 (Call 10/15/26)		50,243		53,011,676
Broadcom Inc.
3.63%, 10/15/24 (Call 09/15/24)^(b)		22,253		23,440,660
4.25%, 04/15/26 (Call 02/15/26)^(a)(b)		24,390		26,203,394
4.75%, 04/15/29 (Call 01/15/29)^(a)(b)		32,260		35,943,198
Intel Corp.
2.45%, 11/15/29 (Call 08/15/29)		24,550		25,532,157
2.60%, 05/19/26 (Call 02/19/26)^(a)		13,076		13,779,036
2.88%, 05/11/24 (Call 03/11/24)^(a)		16,070		17,024,399
3.10%, 02/15/60 (Call 08/15/59)		11,900		12,217,430
3.15%, 05/11/27 (Call 02/11/27)^(a)		9,992		10,947,615
3.25%, 11/15/49 (Call 05/15/49)		16,235		17,708,443
3.70%, 07/29/25 (Call 04/29/25)		23,735		26,214,080
3.73%, 12/08/47 (Call 06/08/47)		21,246		24,981,113
4.00%, 12/15/32		9,615		11,584,244
4.10%, 05/19/46 (Call 11/19/45)		12,755		15,621,487
4.10%, 05/11/47 (Call 11/11/46)^(a)		12,755		15,719,896
4.80%, 10/01/41^(a)		5,355		7,173,211
4.90%, 07/29/45 (Call 01/29/45)^(a)		7,836		10,641,723
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)		7,460		7,355,928
4.10%, 03/15/29 (Call 12/15/28)^(a)		7,298		8,308,442
4.65%, 11/01/24 (Call 08/01/24)		13,333		14,989,033
Lam Research Corp.
3.75%, 03/15/26 (Call 01/15/26)		11,991		13,229,516
4.00%, 03/15/29 (Call 12/15/28)^(a)		11,996		13,577,024
4.88%, 03/15/49 (Call 09/15/48)		7,516		9,899,302
SemiconductorsMicrochip Technology Inc., 4.33%, 06/01/23 (Call 05/01/23)		14,303		15,438,029
Micron Technology Inc.
4.19%, 02/15/27 (Call 12/15/26)		8,762		9,488,949
4.66%, 02/15/30 (Call 11/15/29)		10,795		11,896,840
SemiconductorsNVIDIA Corp., 3.20%, 09/16/26 (Call 06/16/26)^(a)		12,005		13,090,833
SemiconductorsNXP BV/NXP Funding LLC, 4.88%, 03/01/24 (Call 02/01/24)^(a)(b)		2,225		2,459,284
NXP BV/NXP Funding LLC/NXP USA Inc.
3.88%, 06/18/26 (Call 04/18/26)^(a)(b)		10,857		11,733,422
4.30%, 06/18/29 (Call 03/18/29)^(a)(b)		13,737		15,399,773
QUALCOMM Inc.
2.90%, 05/20/24 (Call 03/20/24)		10,421		10,956,401
3.25%, 05/20/27 (Call 02/20/27)^(a)		22,302		24,055,649
3.45%, 05/20/25 (Call 02/20/25)^(a)		23,621		25,613,745
4.30%, 05/20/47 (Call 11/20/46)^(a)		17,924		21,475,467
4.65%, 05/20/35 (Call 11/20/34)^(a)		2,644		3,319,711


Security	Par (000)		Value

Semiconductors (continued)
4.80%, 05/20/45 (Call 11/20/44)^(a)	$	18,118	$	23,076,272
Texas Instruments Inc.
2.25%, 09/04/29 (Call 06/04/29)^(a)		9,784		10,004,900
3.88%, 03/15/39 (Call 09/15/38)		7,601		9,026,938
4.15%, 05/15/48 (Call 11/15/47)		16,284		20,629,472


				747,040,166

Software — 3.8%
Adobe Inc.
2.15%, 02/01/27 (Call 12/01/26)		4,890		5,017,958
2.30%, 02/01/30 (Call 11/01/29)		15,000		15,401,196
Fidelity National Information Services Inc.
3.00%, 08/15/26 (Call 05/15/26)^(a)		13,545		14,477,728
3.75%, 05/21/29 (Call 02/21/29)		12,065		13,583,269
Fiserv Inc.
2.75%, 07/01/24 (Call 06/01/24)^(a)		23,840		24,796,542
3.20%, 07/01/26 (Call 05/01/26)^(a)		20,960		22,273,488
3.50%, 07/01/29 (Call 04/01/29)^(a)		33,644		36,775,516
3.80%, 10/01/23 (Call 09/01/23)		1,282		1,373,022
3.85%, 06/01/25 (Call 03/01/25)^(a)		10,025		10,984,160
4.20%, 10/01/28 (Call 07/01/28)^(a)		9,992		11,432,074
4.40%, 07/01/49 (Call 01/01/49)^(a)		20,748		24,817,145
Microsoft Corp.
2.00%, 08/08/23 (Call 06/08/23)^(a)		17,935		18,371,068
2.38%, 05/01/23 (Call 02/01/23)^(a)		5,293		5,468,737
2.40%, 08/08/26 (Call 05/08/26)^(a)		47,192		49,641,666
2.70%, 02/12/25 (Call 11/12/24)^(a)		29,187		30,935,290
2.88%, 02/06/24 (Call 12/06/23)		23,077		24,338,896
3.13%, 11/03/25 (Call 08/03/25)^(a)		30,068		32,700,120
3.30%, 02/06/27 (Call 11/06/26)^(a)		42,376		46,949,735
3.45%, 08/08/36 (Call 02/08/36)		22,364		25,745,640
3.50%, 02/12/35 (Call 08/12/34)^(a)		13,720		15,968,221
3.50%, 11/15/42		9,093		10,635,388
3.63%, 12/15/23 (Call 09/15/23)^(a)		13,744		14,861,787
3.70%, 08/08/46 (Call 02/08/46)^(a)		47,037		57,185,040
3.75%, 02/12/45 (Call 08/12/44)^(a)		17,761		21,439,873
3.95%, 08/08/56 (Call 02/08/56)^(a)		25,556		32,413,963
4.00%, 02/12/55 (Call 08/12/54)^(a)		23,737		30,373,765
4.10%, 02/06/37 (Call 08/06/36)^(a)		25,433		31,511,355
4.20%, 11/03/35 (Call 05/03/35)^(a)		9,712		12,098,310
4.25%, 02/06/47 (Call 08/06/46)^(a)		31,686		41,520,561
4.45%, 11/03/45 (Call 05/03/45)^(a)		31,293		41,792,412
4.50%, 10/01/40^(a)		11,541		15,312,367
4.50%, 02/06/57 (Call 08/06/56)		21,275		29,803,886
4.75%, 11/03/55 (Call 05/03/55)^(a)		11,455		16,532,846
5.20%, 06/01/39^(a)		7,806		11,071,959
5.30%, 02/08/41		1,543		2,222,734
Oracle Corp.
2.40%, 09/15/23 (Call 07/15/23)^(a)		19,377		20,019,456
2.65%, 07/15/26 (Call 04/15/26)^(a)		34,644		36,540,915
2.95%, 11/15/24 (Call 09/15/24)^(a)		21,584		22,920,783
2.95%, 05/15/25 (Call 02/15/25)^(a)		24,931		26,545,738
3.25%, 11/15/27 (Call 08/15/27)^(a)		36,609		40,130,819
3.40%, 07/08/24 (Call 04/08/24)^(a)		13,005		13,983,473
3.63%, 07/15/23^(a)		14,395		15,472,723
3.80%, 11/15/37 (Call 05/15/37)^(a)		19,389		22,543,695
3.85%, 07/15/36 (Call 01/15/36)^(a)		10,936		12,708,455
3.90%, 05/15/35 (Call 11/15/34)		11,866		13,928,768
4.00%, 07/15/46 (Call 01/15/46)		32,818		39,202,404
4.00%, 11/15/47 (Call 05/15/47)^(a)		24,550		29,703,040
4.13%, 05/15/45 (Call 11/15/44)^(a)		18,322		22,234,130


Security	Par (000)		Value

Software (continued)
4.30%, 07/08/34 (Call 01/08/34)^(a)	$	20,412	$	25,122,153
4.38%, 05/15/55 (Call 11/15/54)		11,446		14,535,287
4.50%, 07/08/44 (Call 01/08/44)		11,963		15,166,525
5.38%, 07/15/40		23,141		31,857,627
6.13%, 07/08/39		13,874		20,508,655
6.50%, 04/15/38^(a)		9,045		13,753,797
salesforce.com Inc.
3.25%, 04/11/23 (Call 03/11/23)^(a)		745		785,185
3.70%, 04/11/28 (Call 01/11/28)		14,694		16,589,335
SoftwareVMware Inc., 3.90%, 08/21/27 (Call 05/21/27)^(a)		15,876		17,057,568


				1,271,138,248

Telecommunications — 6.6%
AT&T Inc.
3.40%, 05/15/25 (Call 02/15/25)^(a)		54,495		57,997,154
3.60%, 07/15/25 (Call 04/15/25)^(a)		17,587		18,957,374
3.80%, 03/01/24 (Call 01/01/24)^(a)		3,947		4,254,746
3.80%, 02/15/27 (Call 11/15/26)		13,770		15,173,029
3.90%, 03/11/24 (Call 12/11/23)^(a)		3,774		4,072,962
3.95%, 01/15/25 (Call 10/15/24)		22,384		24,466,652
4.10%, 02/15/28 (Call 11/15/27)^(a)		25,338		28,298,725
4.13%, 02/17/26 (Call 11/17/25)^(a)		32,212		35,820,630
4.25%, 03/01/27 (Call 12/01/26)^(a)		17,608		19,685,800
4.30%, 02/15/30 (Call 11/15/29)		33,325		38,058,063
4.30%, 12/15/42 (Call 06/15/42)^(a)		21,983		24,399,213
4.35%, 03/01/29 (Call 12/01/28)^(a)		31,377		35,735,981
4.35%, 06/15/45 (Call 12/15/44)^(a)		31,219		34,680,738
4.45%, 04/01/24 (Call 01/01/24)^(a)		8,844		9,786,795
4.50%, 05/15/35 (Call 11/15/34)		24,924		28,657,887
4.50%, 03/09/48 (Call 09/09/47)^(a)		47,525		54,304,750
4.55%, 03/09/49 (Call 09/09/48)^(a)		27,454		31,645,710
4.75%, 05/15/46 (Call 11/15/45)		37,020		43,384,749
4.80%, 06/15/44 (Call 12/15/43)^(a)		27,088		31,700,098
4.85%, 03/01/39 (Call 09/01/38)		20,246		24,216,374
4.85%, 07/15/45 (Call 01/15/45)^(a)		6,752		7,986,956
4.90%, 08/15/37 (Call 02/14/37)^(a)		14,740		17,587,939
5.15%, 03/15/42^(a)		12,379		15,189,817
5.15%, 11/15/46 (Call 05/15/46)^(a)		19,110		23,565,013
5.15%, 02/15/50 (Call 08/14/49)^(a)		16,982		21,161,922
5.25%, 03/01/37 (Call 09/01/36)^(a)		31,983		39,362,927
5.35%, 09/01/40		17,157		21,815,747
5.45%, 03/01/47 (Call 09/01/46)^(a)		22,202		28,538,844
5.55%, 08/15/41^(a)		11,018		14,089,858
5.65%, 02/15/47 (Call 08/15/46)^(a)		15,662		20,678,802
5.70%, 03/01/57 (Call 09/01/56)^(a)		9,110		12,264,203
6.00%, 08/15/40 (Call 05/15/40)^(a)		13,346		17,769,392
6.30%, 01/15/38^(a)		841		1,145,200
6.38%, 03/01/41^(a)		8,492		11,726,262
TelecommunicationsBritish Telecommunications PLC, 9.63%, 12/15/30		30,749		48,675,885
Cisco Systems Inc.
2.20%, 09/20/23 (Call 07/20/23)^(a)		1,731		1,776,453
2.50%, 09/20/26 (Call 06/20/26)^(a)		13,963		14,758,367
2.95%, 02/28/26^(a)		7,922		8,583,990
3.63%, 03/04/24^(a)		401		436,789
5.50%, 01/15/40^(a)		22,050		31,820,104
5.90%, 02/15/39^(a)		20,622		30,644,432
Corning Inc.
4.38%, 11/15/57 (Call 05/15/57)		1,073		1,180,988
5.45%, 11/15/79 (Call 05/15/79)^(a)		15,595		17,398,772


Security	Par (000)		Value

Telecommunications (continued)
TelecommunicationsDeutsche Telekom International Finance BV, 8.75%, 06/15/30^(a)	$	38,927	$	60,318,690
TelecommunicationsMotorola Solutions Inc., 4.60%, 05/23/29 (Call 02/23/29)^(a)		5,860		6,724,686
Orange SA
5.38%, 01/13/42^(a)		8,474		11,817,765
5.50%, 02/06/44 (Call 08/06/43)		8,577		12,225,932
9.00%, 03/01/31		27,782		44,181,162
Rogers Communications Inc.
3.70%, 11/15/49 (Call 05/15/49)^(a)		9,180		10,068,213
4.10%, 10/01/23 (Call 07/01/23)^(a)		637		695,038
4.30%, 02/15/48 (Call 08/15/47)		8,113		9,615,489
4.35%, 05/01/49 (Call 11/01/48)^(a)		13,410		16,143,571
5.00%, 03/15/44 (Call 09/15/43)^(a)		11,384		14,655,316
Telefonica Emisiones SA
4.10%, 03/08/27^(a)		9,308		10,332,241
4.57%, 04/27/23		7,731		8,442,213
4.67%, 03/06/38		4,940		5,752,794
4.90%, 03/06/48		13,904		16,670,441
5.21%, 03/08/47		26,884		33,267,676
5.52%, 03/01/49 (Call 09/01/48)^(a)		13,992		18,149,072
7.05%, 06/20/36^(a)		21,473		32,057,040
TelecommunicationsTelefonica Europe BV, 8.25%, 09/15/30		10,492		15,745,649
TelecommunicationsTELUS Corp., 4.60%, 11/16/48 (Call 05/16/48)		8,372		10,531,751
Verizon Communications Inc.
2.63%, 08/15/26^(a)		11,331		11,893,722
3.38%, 02/15/25^(a)		30,185		32,670,391
3.50%, 11/01/24 (Call 08/01/24)		14,002		15,125,310
3.85%, 11/01/42 (Call 05/01/42)		10,840		12,445,497
3.88%, 02/08/29 (Call 11/08/28)^(a)		11,459		13,092,878
4.02%, 12/03/29 (Call 09/03/29)^(a)		47,515		55,200,252
4.13%, 03/16/27^(a)		27,324		31,104,598
4.13%, 08/15/46^(a)		12,063		14,556,025
4.27%, 01/15/36^(a)		30,160		36,154,746
4.33%, 09/21/28		62,618		73,501,872
4.40%, 11/01/34 (Call 05/01/34)^(a)		29,768		36,422,815
4.50%, 08/10/33		31,995		39,141,291
4.52%, 09/15/48^(a)		44,387		57,195,779
4.67%, 03/15/55		17,649		23,423,440
4.81%, 03/15/39^(a)		16,434		21,072,418
4.86%, 08/21/46		42,718		56,528,913
5.01%, 04/15/49^(a)		28,227		38,873,917
5.01%, 08/21/54^(a)		1,925		2,691,848
5.15%, 09/15/23^(a)		13,896		15,631,758
5.25%, 03/16/37^(a)		29,729		39,580,560
5.50%, 03/16/47		12,962		18,474,727
6.55%, 09/15/43		10,726		16,969,979
Vodafone Group PLC
3.75%, 01/16/24		22,541		24,227,779
4.13%, 05/30/25^(a)		24,328		27,039,244
4.25%, 09/17/50		15,049		16,520,556
4.38%, 05/30/28^(a)		35,288		40,500,161
4.38%, 02/19/43^(a)		15,410		17,709,354
4.88%, 06/19/49^(a)		18,387		22,087,943
5.00%, 05/30/38		3,140		3,810,858
5.25%, 05/30/48^(a)		30,404		38,316,121
6.15%, 02/27/37^(a)		20,845		28,911,838


				2,191,727,421


Security	Par (000)		Value

Toys, Games & Hobbies — 0.0%
Toys, Games & HobbiesHasbro Inc., 3.90%, 11/19/29 (Call 08/19/29)	$	10,013	$	10,520,852


Transportation — 1.4%
Burlington Northern Santa Fe LLC
3.55%, 02/15/50 (Call 08/15/49)		9,060		10,218,542
3.85%, 09/01/23 (Call 06/01/23)^(a)		3,617		3,892,597
3.90%, 08/01/46 (Call 02/01/46)^(a)		8,259		9,617,143
4.05%, 06/15/48 (Call 12/15/47)		8,677		10,437,630
4.13%, 06/15/47 (Call 12/15/46)^(a)		5,549		6,721,081
4.15%, 04/01/45 (Call 10/01/44)^(a)		10,578		12,675,508
4.15%, 12/15/48 (Call 06/15/48)^(a)		8,204		9,982,205
4.45%, 03/15/43 (Call 09/15/42)^(a)		8,475		10,528,986
4.55%, 09/01/44 (Call 03/01/44)		7,032		8,861,192
4.90%, 04/01/44 (Call 10/01/43)		10,364		13,590,365
5.75%, 05/01/40 (Call 11/01/39)^(a)		8,491		12,079,220
TransportationCanadian Pacific Railway Co., 6.13%, 09/15/15 (Call 03/15/15)		8,781		14,288,400
CSX Corp.
3.25%, 06/01/27 (Call 03/01/27)^(a)		5,921		6,446,601
3.80%, 03/01/28 (Call 12/01/27)		13,106		14,732,356
3.80%, 11/01/46 (Call 05/01/46)^(a)		8,733		9,732,189
4.10%, 03/15/44 (Call 09/15/43)^(a)		6,192		7,140,700
4.25%, 03/15/29 (Call 12/15/28)^(a)		12,291		14,262,904
4.30%, 03/01/48 (Call 09/01/47)^(a)		7,926		9,517,929
FedEx Corp.
3.10%, 08/05/29 (Call 05/05/29)^(a)		12,873		13,339,380
3.25%, 04/01/26 (Call 01/01/26)^(a)		8,304		8,899,244
4.00%, 01/15/24^(a)		7,343		7,986,378
4.05%, 02/15/48 (Call 08/15/47)		10,340		10,429,647
4.40%, 01/15/47 (Call 07/15/46)^(a)		7,812		8,242,614
4.55%, 04/01/46 (Call 10/01/45)^(a)		12,789		13,797,184
4.75%, 11/15/45 (Call 05/15/45)		11,778		13,042,431
4.95%, 10/17/48 (Call 04/17/48)^(a)		8,584		9,735,829
5.10%, 01/15/44^(a)		8,043		9,328,848
TransportationNorfolk Southern Corp., 5.10%, 08/01/18 (Call 02/01/18)		7,718		10,160,345
Union Pacific Corp.
2.40%, 02/05/30 (Call 11/05/29)^(a)		11,200		11,469,126
3.25%, 02/05/50 (Call 08/05/49)		12,000		12,363,653
3.70%, 03/01/29 (Call 12/01/28)		3,226		3,634,159
3.75%, 02/05/70 (Call 08/05/69)		10,000		10,410,354
3.80%, 10/01/51 (Call 04/01/51)^(a)		6,104		6,849,110
3.95%, 09/10/28 (Call 06/10/28)^(a)		20,831		23,663,079
4.30%, 03/01/49 (Call 09/01/48)		7,403		8,946,323
4.38%, 09/10/38 (Call 03/10/38)^(a)		10,495		12,526,518
United Parcel Service Inc.
2.50%, 04/01/23 (Call 03/01/23)^(a)		4,333		4,479,330
3.05%, 11/15/27 (Call 08/15/27)^(a)		14,832		16,041,895
3.40%, 03/15/29 (Call 12/15/28)^(a)		9,649		10,722,625
3.75%, 11/15/47 (Call 05/15/47)^(a)		12,617		14,043,308
4.25%, 03/15/49 (Call 09/15/48)^(a)		5,709		6,872,470


Security	Par/ Shares (000)			Value

Transportation (continued)
6.20%, 01/15/38^(a)	$	15,327		$	22,502,731


					454,212,129

Water — 0.1%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)^(a)		12,193			13,874,406
6.59%, 10/15/37^(a)		3,014			4,521,583

					18,395,989


Total Corporate Bonds & Notes — 97.7% (Cost: $30,229,897,499)					32,329,184,707


Short-Term Investments

Money Market Funds — 10.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.74%^(d)(e)(f)		2,751,473			2,753,399,512
BlackRock Cash Funds: Treasury, SL Agency Shares,
1.52%^(d)(e)		724,234			724,234,000

					3,477,633,512


Total Short-Term Investments — 10.5% (Cost: $3,476,168,938)					3,477,633,512


Total Investments Before Investments Sold Short — 108.2% (Cost: $33,706,066,437)					35,806,818,219


Investments Sold Short — (0.0)%

Corporate Bonds & Notes — (0.0)%
Macy’s Retail Holdings Inc., 2.88%, 02/15/23		(2	)		(2,008	)


Total Corporate Bonds & Notes (Proceeds $(2,164))					(2,008	)


Total Investments Sold Short — (0.0)% (Proceeds $2,164)					(2,008	)


Total Investments, Net of Investments Sold Short — 108.2% (Cost $33,706,064,273)					35,806,816,211

Other Assets, Less Liabilities — (8.2)%					(2,700,058,598	)


Net Assets — 100.0%				$	33,106,757,613

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

^(b)	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.

^(c)	Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date.

^(d)	Affiliate of the Fund.

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

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

Investments in issuers considered to be affiliates of the Fund during the year ended February 29, 2020, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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 following significant accounting policies are consistently followed by each Fund in the preparation of its financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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.

Investment Transactions and Income Recognition: Investment transactions are accounted for on trade date. Realized gains and losses on investment transactions are determined using the specific identification method. Interest income, including amortization and accretion of premiums and discounts on debt securities, and payment-in-kind interest income, if any, are recognized daily on the accrual basis. Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, net of any foreign taxes withheld at source.

This change in accounting policy has been made to comply with the newly issued accounting standard and had no impact on accumulated earnings (loss) or the net asset value of the Funds.

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 should the reporting period end on a day that the Fund’s listing exchange is not open. 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. A fund determines the fair value of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). 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., a company announcement, market volatility or a natural disaster) occur that are expected to materially affect the value of an 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 policies 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 the cost approach. Valuation techniques used under these approaches take into consideration inputs that include but are not limited to (i) attributes specific to the investment; (ii) the principal market for the investment; (iii) the customary participants in the principal market for the investment; (iv) data assumptions by market participants for the investment, if reasonably available; (v) quoted prices for similar investments in active markets; and (vi) other inputs, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and/or default rates.

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.

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.

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 judgement 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. The fair value hierarchy for each Fund’s investments is included in its schedule of investments. 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.

Short Positions: From time to time, in order to track the performance of its benchmark index, a fund may sell non-index securities that will be received through corporate actions occurring on the opening of market trading on the following business day. A fund may also experience temporary short positions due to the timing of portfolio securities trades and in-kind redemption transactions. Such short positions are valued consistent with how securities are valued as described under Investment Valuation and Fair Value Measurements. The obligation to deliver the securities is recorded as a liability in the statement of assets and liabilities and is equal to the current fair value of the securities to be delivered. Any market fluctuations between the value of the obligation to sell these securities and the current fair value are reflected as unrealized appreciation (depreciation) in the statement of operations. Upon receipt of the securities related to the corporate actions or purchase of the securities related to the short position, a realized gain (loss) is recorded. Dividends or interest on securities sold short, if any, are reflected as an expense in the statement of operations. Details of the short positions, if any, are included in the schedule of investments.

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 February 29, 2020, any securities on loan were collateralized by cash and/or U.S. government obligations. Cash collateral received was invested in money market funds managed by BlackRock FundAdvisors (“BFA”), the Funds’ investment adviser, or its affiliates and is disclosed in the schedules 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 for each Fund, if any, are also disclosed in its schedule of investments. The market value of any securities on loan as of February 29, 2020 and the value of the related cash collateral are disclosed in the statements of assets and liabilities.

The following table is a summary of the securities lending agreements by counterparty which are subject to offset under an MSLA as of February 29, 2020:

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

Each reduced investment advisory fee level reflects a 5% reduction (rounded to the fourth decimal place) from the investment advisory fee at the prior aggregate average daily net asset level.

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

Each reduced investment advisory fee level reflects a 5% reduction (rounded to the fourth decimal place) from the investment advisory fee at the prior aggregate average daily net asset level.

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. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan in a money market fund 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 “collateral investment fees”). Securities lending income is equal to the total of income earned from the reinvestment of cash collateral (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities. 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.

The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its statement of operations. For the year ended February 29, 2020, 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.

For the year ended February 29, 2020, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:

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

For the year ended February 29, 2020, purchases and sales of investments, excluding in-kind transactions and short-term investments, were as follows:

Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is the policy of each Fund to qualify as a regulated investment company by complying with the provisions applicable to regulated investment companies, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, and to annually distribute substantially all of its ordinary income and any net capital gains (taking into account any capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income and excise taxes. Accordingly, no provision for federal income taxes is required.

Management has analyzed tax laws and regulations and their application to the Funds as of February 29, 2020, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of February 29, 2020, the following permanent differences attributable to realized gains (losses) from in-kind redemptions, were reclassified to the following accounts:

As of February 29, 2020, the tax components of accumulated net earnings (losses) were as follows:

For the year ended February 29, 2020, the iShares iBoxx $ Investment Grade Corporate Bond ETF utilized $84,554,788 of its capital loss carryforwards.

As of February 29, 2020, 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. 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.

Market Risk: Market risk arises mainly from uncertainty about future values of financial instruments influenced by price, currency and interest rate movements. It represents the potential loss a fund may suffer through holding market positions in the face of market movements. A fund is exposed to market risk by its investment in equity, fixed income and/or financial derivative instruments or by its investment in underlying funds. The fair value of securities held by a fund may decline due to general market conditions, economic trends or events that are not specifically related to the issuers of the securities including local, regional or global political, social or economic instability or to factors that affect a particular industry or group of industries. 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. The extent of a fund’s exposure to market risk is the market value of the investments held as shown in the fund’s schedule of investments.

Investing in the securities of non-U.S. issuers involves certain considerations and risks not typically associated with securities of U.S. issuers. Such risks include, but are not limited to: differences in accounting, auditing and financial reporting standards; more substantial governmental involvement in the economy; higher inflation rates, greater social, economic and political uncertainties; possible nationalization or expropriation of assets; less availability of public information about issuers; imposition of withholding or other taxes; higher transaction and custody costs and delays in settlement procedures; and lower level of regulation of the securities markets and issuers. Non-U.S. securities may be less liquid, more difficult to value, and have greater price volatility due to exchange rate fluctuations. These and other risks are heightened for investments in issuers from countries with less developed capital markets.

Changes in market interest rates or economic conditions may affect the value and/or liquidity of fixed income investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. Securities with longer durations tend to be more sensitive to interest rate changes, usually making their prices more volatile than those of securities with shorter durations. Given the environment of historically low interest rates, a fund may be subject to a greater risk of price losses if interest rates rise.

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. The impact of the pandemic may be short term or may last for an extended period of time.

Credit Risk: Credit risk is the risk that an issuer or guarantor of debt instruments or the counterparty to a financial transaction, including derivatives contracts, repurchase agreements or loans of portfolio securities, is unable or unwilling to make timely interest and/or principal payments or to otherwise honor its obligations. BFA and its affiliates manage counterparty credit risk by entering into transactions only with counterparties that they believe have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose a fund to issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of a fund’s exposure to credit and counterparty risks with respect to those financial assets is approximated by their value recorded in its statement of assets and liabilities.

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.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares iBoxx $ High Yield Corporate Bond ETF and iShares iBoxx $ Investment Grade Corporate Bond ETF (two of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of February 29, 2020, the related statements of operations for the year ended February 29, 2020, the statements of changes in net assets for each of the two years in the period ended February 29, 2020, including the related notes, and the financial highlights for each of the five years in the period ended February 29, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of February 29, 2020, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended February 29, 2020 and each of the financial highlights for each of the five years in the period ended February 29, 2020 in conformity with accounting principles generally accepted in the United States of America.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 29, 2020 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

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

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”).

Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of October 31, 2020

	6-Month	12-Month

U.S. large cap equities (S&P 500^® Index)	13.29%	9.71%

U.S. small cap equities (Russell 2000^® Index)	18.13	(0.14)

International equities (MSCI Europe, Australasia, Far East Index)	8.57	(6.86)

Emerging market equities (MSCI Emerging Markets Index)	20.96	8.25

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)	0.06	0.92

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)	(1.63)	8.92

U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)	1.27	6.19

Tax-exempt municipal bonds (S&P Municipal Bond Index)	4.87	3.55

U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)	10.73	3.42
Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

The iShares Interest Rate Hedged Long-Term Corporate Bond ETF (the “Fund”) seeks to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated investment-grade corporate bonds with remaining maturities greater than ten years. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares 10+ Year Investment Grade Corporate Bond ETF (formerly known as iShares Long-Term Corporate Bond ETF). The Fund attempts to mitigate the interest rate risk of the underlying fund by holding short positions in U.S. Treasury futures or interest rate swaps.

The inception date of the Fund was 7/22/15. The first day of secondary market trading was 7/23/15.

The ICE Q70A Custom Index is an unmanaged index that consists of the ICE BofA 10+ Year US Corporate Index plus interest rate swaps that intend to hedge the interest rate exposure of the ICE BofA 10+ Year US Corporate Index.

The ICE Q70A Custom Index reflects the performance of Bloomberg Barclays U.S. Long Credit Interest Rate Swaps Hedged Index through July 31, 2018 and beginning August 1, 2018 reflects the performance of the ICE Q70A Custom Index.


Actual					Hypothetical 5% Return

	Beginning Account Value (05/01/20)	Ending Account Value (10/31/20)	Expenses Paid During the Period	^(a)(b)		Beginning Account Value (05/01/20)	Ending Account Value (10/31/20)	Expenses Paid During the Period	^(a)(b)	Annualized Expense Ratio	^(a)
	$ 1,000.00	$ 1,102.50	$ 0.53			$ 1,000.00	$ 1,024.60	$ 0.51		0.10	%

The Fund declined slightly for the reporting period. Although the Fund’s underlying long-term corporate bonds advanced notably, the negative impact of the interest rate hedge more than offset these gains. Bond purchases by the Fed, which for the first time included buying individual corporate bonds, reduced yields on investment-grade corporate debt to historic lows amid the coronavirus pandemic.

On an unhedged basis, consumer non-cyclical bonds were the most significant contributors to the Fund’s performance, as their yields declined relative to consumer cyclical bonds during the pandemic-related recession. In the pharmaceuticals industry, brisk investor demand led to low yields, even amid an increase in bond issuance.

The bonds of financial companies also advanced, supported by stronger balance sheets over the last decade and limited prospects of bank credit rating downgrades. Despite a significant increase in bond issuance by banks, investor demand remained robust. Furthermore, insurance companies’ bonds benefited from Fed purchases of other companies’ bonds in their investment portfolios. Communications companies’ bonds also contributed to the Fund’s return, as demand remained solid at a time when increased numbers of people working at home benefited network owners. Technology industry bonds were contributors as well, as low yields induced companies with large cash reserves to issue new bonds.

Declining interest rates during the reporting period led to negative performance from hedging activity, which was the largest detractor from the Fund’s performance. Typically, increasing interest rates reduce the price of existing bonds, meaning a rise in interest rates detracts from bond fund performance. Conversely, decreasing interest rates usually increase bond prices. An interest rate hedged fund attempts to avoid these fluctuations by offsetting interest rate risk, primarily using interest rate swaps and U.S. Treasury futures contracts.

ALLOCATION BY CREDIT QUALITY (of the UNDERLYING FUND)


Credit Rating^(a)	Percent of Total Investment^(b)
Aaa		2.3	%
Aa		9.6
A		38.4
Baa		46.2
Ba		2.1
Not Rated		1.4

^(a)

^(b)

Excludes money market funds.


Security	Shares		Value

Investment Companies

Exchange-Traded Funds — 90.5%
iShares 10+ Year Investment Grade Corporate Bond ETF^(a)(b)		7,273,125	$	504,973,068


Total Investment Companies — 90.5% (Cost: $511,699,758)				504,973,068


Short-Term Investments

Money Market Funds — 1.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(a)(c)(d)		1,755,368		1,756,597
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(a)(c)		4,950,000		4,950,000


				6,706,597


Total Short-Term Investments — 1.2% (Cost: $6,706,772)				6,706,597


Total Investments in Securities — 91.7% (Cost: $518,406,530)				511,679,665

Other Assets, Less Liabilities — 8.3%				46,035,349


Net Assets — 100.0%			$	557,715,014

Balances Reported in the Statement of Assets and Liabilities for Centrally Cleared Swaps

As of October 31, 2020, the fair values of derivative financial instruments located in the Statement of Assets and Liabilities were as follows:

For the year ended October 31, 2020, the effect of derivative financial instruments in the Statement of Operations was as follows:

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Currently the Fund seeks to achieve its investment objective by investing a substantial portion of its assets in an iShares fund (an “underlying fund”). The financial statements and schedule of investments for the underlying fund are included elsewhere in this report and should be read in conjunction with the Fund’s financial statements.

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. The 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:

Segregation and Collateralization: In cases where the Fund enters into certain investments (e.g., swaps) that would be treated as “senior securities” for 1940 Act purposes, the Fund may segregate or designate on its books and records cash or liquid assets having a market value at least equal to the amount of its future obligations under such investments. Doing so allows the investment to be excluded from treatment as a “senior security.” Furthermore, if required by an exchange or counterparty agreement, the Fund may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments or obligations.

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 Fund. Because such gains or losses are not taxable to the Fund 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 Fund’s tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.

Distributions: Dividends and distributions paid by the 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 Fund. 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, the Fund enters into contracts that contain a variety of representations that provide general indemnification. The Fund’s maximum exposure under these arrangements is unknown because it involves future potential claims against the Fund, which cannot be predicted with any certainty.

Investment Valuation Policies: The 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. A fund determines the fair value 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 the Fund’s assets and liabilities:

If events (e.g., a market closure, 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 the 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 the 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.

Securities Lending: The 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 the 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, the 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 October 31, 2020, any securities on loan were collateralized by cash and/or U.S. government obligations. Cash collateral received was invested in money market funds managed by BlackRock Fund Advisors (“BFA”), the Fund’s investment adviser, or its affiliates and 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 for the Fund, if any, are also disclosed in its schedule of investments. The market value of any securities on loan as of October 31, 2020 and the value of the related cash collateral are disclosed in the statement of assets and liabilities.

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 as of October 31, 2020:

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, the 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. The 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 the Fund.

Swaps: Swap contracts are entered into to manage exposure to issuers, markets and securities. Such contracts are agreements between the Fund and a counterparty to make periodic net payments on a specified notional amount or a net payment upon termination. Swap agreements are privately negotiated in the OTC market and may be entered into as a bilateral contract (“OTC swaps”) or centrally cleared (“centrally cleared swaps”).

In a centrally cleared swap, immediately following execution of the swap agreement, the swap agreement is novated to a central counterparty (“CCP”) and the CCP becomes the Fund’s counterparty on the swap. The Fund is required to interface with the CCP through a broker. Upon entering into a centrally cleared swap, the Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are designated on the schedule of investments and cash deposited is shown as cash pledged for centrally cleared swaps on the statement of assets and liabilities. Amounts pledged, which are considered restricted cash, are included in cash pledged for centrally cleared swaps in the statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and shown as variation margin receivable (or payable) on centrally cleared swaps in the statement of assets and liabilities. Payments received from (paid to) the counterparty are amortized over the term of the contract and recorded as realized gains (losses) in the statement of operations, including those at termination.

Interest rate swaps are entered into to gain or reduce exposure to interest rates or to manage duration, the yield curve or interest rate (interest rate risk).

Interest rate swaps are agreements in which one party pays a stream of interest payments, either fixed or floating, in exchange for another party’s stream of interest payments, either fixed or floating, on the same notional amount for a specified period of time. In more complex interest rate swaps, the notional principal amount may decline (or amortize) over time.

Swap transactions involve, to varying degrees, elements of interest rate, credit and market risks in excess of the amounts recognized in the statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligation to perform or disagree as to the meaning of the contractual terms in the agreements, and that there may be unfavorable changes in interest rates and/or market values associated with these transactions.

Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of the 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 Fund, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).

For its investment advisory services to the Fund, BFA is entitled to an annual investment advisory fee of 0.35%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

Expense Waivers: A fund may incur its pro rata share of fees and expenses attributable to its investments in other investment companies (“acquired fund fees and expenses”). The total of the investment advisory fee and acquired fund fees and expenses are a fund’s total annual operating expenses. BFA has contractually agreed to waive a portion of its investment advisory fee for the Fund through February 28, 2022 so that the Fund’s total annual operating expenses after fee waiver is equal to the acquired fund fees and expenses attributable to the Fund’s investment in the iShares 10+ Year Investment Grade Corporate Bond ETF (“IGLB”), after taking into account any fee waivers by IGLB, plus 0.10%.

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

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 Fund, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. The 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 the 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. The 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, the 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, the 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 the Fund is shown as securities lending income – affiliated – net in its statement of operations. For the year ended October 31, 2020, the Fund paid BTC $2,572 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.

The 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 statement of operations.

For the year ended October 31, 2020, purchases and sales of investments, excluding short-term investments and in-kind transactions, were as follows:

For the year ended October 31, 2020, purchases and sales related to in-kind transactions were as follows:

The Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is the 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 Fund as of October 31, 2020, 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 Fund’s financial statements.

As of October 31, 2020, the tax components of accumulated net earnings (losses) were as follows:

In the normal course of business, the 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 Fund and its investments. The Fund’s prospectus provides details of the risks to which the Fund is subject.

The Fund 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.

Counterparty Credit Risk: The Fund 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 Fund manages 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 Fund to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Fund’s exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the statement of assets and liabilities, less any collateral held by the Fund.

With centrally cleared swaps , there is less counterparty credit risk to the Fund since the exchange or clearinghouse, as counterparty to such instruments, guarantees against a possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, the Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in centrally cleared swaps with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Fund.

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 the Fund’s portfolio are disclosed in its schedule of investments.

LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”) by the end of 2021, and it is expected that LIBOR will cease to be published after that time. The Fund 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 Fund is uncertain.

Capital shares are issued and redeemed by the 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 the Fund are not redeemable.

Management has evaluated the impact of all subsequent events on the Fund 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.

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of iShares Interest Rate Hedged Long-Term Corporate Bond ETF (one of the funds constituting iShares U.S. ETF Trust, referred to hereafter as the “Fund”) as of October 31, 2020, the related statement of operations for the year ended October 31, 2020, the statement of changes in net assets for each of the two years in the period ended October 31, 2020, including the related notes, and the financial highlights for each of the five years in the period ended October 31, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2020, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2020 and the financial highlights for each of the five years in the period ended October 31, 2020 in conformity with accounting principles generally accepted in the United States of America.

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

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2020 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinion.

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

For the fiscal year ended October 31, 2020, the Fund hereby designates the following maximum amount allowable as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations:

The Fund hereby designates the following amount of distributions from direct federal obligation interest for the fiscal year ended October 31, 2020:

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 the Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.

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

The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fund is included in the BlackRock Fund Complex referred to as the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares Trust, and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 374 funds as of October 31, 2020. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated Cecilia H. Herbert as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).

The iShares 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 its reports on Form N-PORT. The iShares Fund’s Forms N-PORT are available on the SEC’s website at sec.gov. The iShares Funds also disclose their complete schedule of portfolio holdings on a daily basis on the iShares website at iShares.com.

iShares 10+ Year Investment Grade Corporate Bond ETF (formerly known as iShares Long-Term Corporate Bond ETF) | IGLB | NYSE Arca


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.0%
Interpublic Group of Companies Inc. (The), 5.40%, 10/01/48 (Call 04/01/48)	$	390	$	472,827


Aerospace & Defense — 2.3%
BAE Systems Holdings Inc., 4.75%, 10/07/44^(a)		565		721,748
BAE Systems PLC
3.00%, 09/15/50 (Call 03/15/50)^(a)		1,250		1,259,640
5.80%, 10/11/41^(a)		25		35,231
Boeing Co. (The)
3.25%, 02/01/35 (Call 11/01/34)		492		457,023
3.30%, 03/01/35 (Call 09/01/34)		520		494,295
3.38%, 06/15/46 (Call 12/15/45)		205		177,016
3.50%, 03/01/39 (Call 09/01/38)		295		267,162
3.50%, 03/01/45 (Call 09/01/44)		859		732,425
3.55%, 03/01/38 (Call 09/01/37)		280		254,150
3.60%, 05/01/34 (Call 02/01/34)		935		924,265
3.65%, 03/01/47 (Call 09/01/46)		475		420,264
3.75%, 02/01/50 (Call 08/01/49)		850		760,084
3.83%, 03/01/59 (Call 09/01/58)		675		581,676
3.85%, 11/01/48 (Call 05/01/48)		510		455,273
3.90%, 05/01/49 (Call 11/01/48)		707		655,056
3.95%, 08/01/59 (Call 02/01/59)		975		868,691
5.71%, 05/01/40 (Call 11/01/39)		1,984		2,301,369
5.81%, 05/01/50 (Call 11/01/49)		3,315		3,904,101
5.88%, 02/15/40		225		257,671
5.93%, 05/01/60 (Call 11/01/59)		2,080		2,466,207
6.13%, 02/15/33^(b)		320		384,211
6.63%, 02/15/38		156		188,328
6.88%, 03/15/39		427		534,635
General Dynamics Corp.
3.60%, 11/15/42 (Call 05/15/42)		380		445,921
4.25%, 04/01/40 (Call 10/01/39)		493		626,356
4.25%, 04/01/50 (Call 10/01/49)		820		1,065,363
L3Harris Technologies Inc.
4.85%, 04/27/35 (Call 10/27/34)		555		716,084
5.05%, 04/27/45 (Call 10/27/44)		425		565,773
6.15%, 12/15/40		415		598,476
Lockheed Martin Corp.
2.80%, 06/15/50 (Call 12/15/49)		355		366,870
3.60%, 03/01/35 (Call 09/01/34)		724		861,453
3.80%, 03/01/45 (Call 09/01/44)		941		1,122,992
4.07%, 12/15/42		781		970,220
4.09%, 09/15/52 (Call 03/15/52)		1,315		1,687,129
4.50%, 05/15/36 (Call 11/15/35)		685		875,671
4.70%, 05/15/46 (Call 11/15/45)		1,257		1,695,166
5.72%, 06/01/40		50		71,064
Series B, 6.15%, 09/01/36		675		989,574
Northrop Grumman Corp.
3.85%, 04/15/45 (Call 10/15/44)		650		752,327
4.03%, 10/15/47 (Call 04/15/47)		1,920		2,314,160
4.75%, 06/01/43		915		1,182,190
5.05%, 11/15/40		350		463,619
5.15%, 05/01/40 (Call 11/01/39)^(b)		149		199,697
5.25%, 05/01/50 (Call 11/01/49)		745		1,070,076
Northrop Grumman Systems Corp., 7.75%, 02/15/31		607		919,159
Raytheon Technologies Corp.
3.13%, 07/01/50 (Call 01/01/50)		840		887,616
3.75%, 11/01/46 (Call 05/01/46)		1,015		1,162,078
4.05%, 05/04/47 (Call 11/04/46)		335		399,075


Security	Par (000)		Value

Aerospace & Defense (continued)
4.15%, 05/15/45 (Call 11/16/44)	$	881	$	1,051,440
4.20%, 12/15/44 (Call 06/15/44)^(a)		100		111,878
4.35%, 04/15/47 (Call 10/15/46)^(a)		880		1,076,341
4.45%, 11/16/38 (Call 05/16/38)		739		904,463
4.50%, 06/01/42		2,734		3,427,207
4.63%, 11/16/48 (Call 05/16/48)		1,376		1,796,278
4.70%, 12/15/41^(a)		225		279,418
4.80%, 12/15/43 (Call 06/15/43)^(a)		380		472,209
4.88%, 10/15/40^(a)		492		622,665
5.40%, 05/01/35		743		999,506
5.70%, 04/15/40^(b)		877		1,230,212
6.05%, 06/01/36		230		324,348
6.13%, 07/15/38		840		1,220,646


				54,625,241

Agriculture — 1.4%
Altria Group Inc.
3.88%, 09/16/46 (Call 03/16/46)		1,386		1,403,047
4.25%, 08/09/42		950		1,021,696
4.45%, 05/06/50 (Call 11/06/49)		465		518,568
4.50%, 05/02/43		855		936,127
5.38%, 01/31/44		1,392		1,718,021
5.80%, 02/14/39 (Call 08/14/38)		1,461		1,860,341
5.95%, 02/14/49 (Call 08/14/48)^(b)		1,880		2,494,808
6.20%, 02/14/59 (Call 08/14/58)		270		365,872
Archer-Daniels-Midland Co.
3.75%, 09/15/47 (Call 03/15/47)		415		510,840
4.02%, 04/16/43		289		361,954
4.50%, 03/15/49 (Call 09/15/48)^(b)		1,302		1,799,685
4.54%, 03/26/42		31		41,266
5.38%, 09/15/35^(b)		55		78,778
BAT Capital Corp.
3.73%, 09/25/40 (Call 03/25/40)		885		870,674
3.98%, 09/25/50 (Call 03/25/50)		1,150		1,118,111
4.39%, 08/15/37 (Call 02/15/37)		2,168		2,320,097
4.54%, 08/15/47 (Call 02/15/47)		2,255		2,373,475
4.76%, 09/06/49 (Call 03/06/49)		595		644,516
5.28%, 04/02/50 (Call 10/02/49)		315		367,823
Cargill Inc., 3.88%, 05/23/49 (Call 11/23/48)^(a)(b)		680		812,159
Philip Morris International Inc.
3.88%, 08/21/42		731		824,010
4.13%, 03/04/43		606		709,589
4.25%, 11/10/44		1,005		1,201,361
4.38%, 11/15/41		684		824,313
4.50%, 03/20/42		520		639,123
4.88%, 11/15/43		684		881,229
6.38%, 05/16/38		983		1,453,444
Reynolds American Inc.
5.70%, 08/15/35 (Call 02/15/35)		763		937,635
5.85%, 08/15/45 (Call 02/15/45)		1,296		1,581,531
6.15%, 09/15/43		580		715,479
7.25%, 06/15/37		825		1,083,524


				32,469,096

Apparel — 0.2%
NIKE Inc.
3.25%, 03/27/40 (Call 09/27/39)		559		631,408
3.38%, 11/01/46 (Call 05/01/46)		655		753,875
3.38%, 03/27/50 (Call 09/27/49)		1,085		1,247,640
3.63%, 05/01/43 (Call 11/01/42)		710		835,040


Security	Par (000)		Value

Apparel (continued)
3.88%, 11/01/45 (Call 05/01/45)	$	906	$	1,115,711


				4,583,674

Auto Manufacturers — 0.4%
Cummins Inc.
2.60%, 09/01/50 (Call 03/01/50)		635		606,848
4.88%, 10/01/43 (Call 04/01/43)^(b)		375		501,730
Daimler Finance North America LLC, 8.50%, 01/18/31		1,017		1,570,552
General Motors Co.
5.00%, 04/01/35^(b)		568		630,432
5.15%, 04/01/38 (Call 10/01/37)		188		209,223
5.20%, 04/01/45		890		993,718
5.40%, 04/01/48 (Call 10/01/47)		660		753,745
5.95%, 04/01/49 (Call 10/01/48)^(b)		1,247		1,522,618
6.25%, 10/02/43		832		1,023,401
6.60%, 04/01/36 (Call 10/01/35)		1,115		1,401,385
6.75%, 04/01/46 (Call 10/01/45)		756		977,097


				10,190,749

Auto Parts & Equipment — 0.1%
Aptiv PLC
4.40%, 10/01/46 (Call 04/01/46)^(b)		100		97,861
5.40%, 03/15/49 (Call 09/15/48)		206		238,570
BorgWarner Inc., 4.38%, 03/15/45 (Call 09/15/44)^(b)		370		425,462
Lear Corp., 5.25%, 05/15/49 (Call 11/15/48)		555		623,721


				1,385,614

Banks — 7.8%
Bank of America Corp.
2.68%, 06/19/41 (Call 06/19/40)^(c)		4,080		4,119,331
2.83%, 10/24/51 (Call 10/24/50)^(c)		375		372,791
3.95%, 01/23/49 (Call 01/23/48)^(c)		1,130		1,358,740
4.08%, 04/23/40 (Call 04/23/39)^(c)		1,420		1,707,256
4.08%, 03/20/51 (Call 03/20/50)^(c)		4,075		4,970,554
4.24%, 04/24/38 (Call 04/24/37)^(c)		1,729		2,089,183
4.33%, 03/15/50 (Call 03/15/49)^(c)		2,204		2,786,742
4.44%, 01/20/48 (Call 01/20/47)^(c)		1,759		2,246,218
4.88%, 04/01/44		495		661,051
5.00%, 01/21/44		1,277		1,742,876
5.88%, 02/07/42		953		1,422,087
6.11%, 01/29/37^(b)		1,539		2,172,790
7.75%, 05/14/38		1,165		1,912,591
Series L, 4.75%, 04/21/45^(b)		448		581,929
Bank of America N.A., 6.00%, 10/15/36		1,030		1,476,415
Barclays PLC
4.95%, 01/10/47^(b)		1,275		1,656,401
5.25%, 08/17/45^(b)		1,305		1,749,362
BNP Paribas SA, 7.20%, (Call 06/25/37)^(a)(b)(c)(d)		1,045		1,112,685
Citigroup Inc.
3.88%, 01/24/39 (Call 01/24/38)^(c)		890		1,023,789
4.28%, 04/24/48 (Call 04/24/47)^(c)		1,483		1,852,190
4.65%, 07/30/45		625		800,611
4.65%, 07/23/48 (Call 06/23/48)		2,364		3,064,231
4.75%, 05/18/46		2,184		2,731,035
5.30%, 05/06/44		368		487,596
5.32%, 03/26/41 (Call 03/26/40)^(c)		700		950,293
5.88%, 02/22/33		475		619,686
5.88%, 01/30/42		897		1,305,272
6.00%, 10/31/33		229		307,625
6.13%, 08/25/36		482		642,275
6.63%, 06/15/32		1,064		1,478,002
6.68%, 09/13/43		530		810,519


Security	Par (000)		Value

Banks (continued)
6.88%, 03/05/38^(b)	$	110	$	159,667
6.88%, 02/15/98		17		26,589
8.13%, 07/15/39		1,655		2,873,653
Commonwealth Bank of Australia
3.74%, 09/12/39^(a)		695		762,769
3.90%, 07/12/47^(a)(b)		1,238		1,503,023
4.32%, 01/10/48^(a)		1,155		1,377,406
Cooperatieve Rabobank UA
5.25%, 05/24/41		1,407		2,022,456
5.25%, 08/04/45		826		1,116,636
5.75%, 12/01/43^(b)		1,500		2,123,864
Credit Suisse Group Funding Guernsey Ltd., 4.88%, 05/15/45		1,652		2,169,143
Fifth Third Bancorp., 8.25%, 03/01/38		841		1,377,235
First Republic Bank/CA
4.38%, 08/01/46 (Call 02/01/46)^(b)		350		417,801
4.63%, 02/13/47 (Call 08/13/46)^(b)		595		730,524
Goldman Sachs Group Inc. (The)
4.02%, 10/31/38 (Call 10/31/37)^(c)		1,984		2,317,942
4.41%, 04/23/39 (Call 04/23/38)^(c)		1,354		1,650,535
4.75%, 10/21/45 (Call 04/21/45)		1,609		2,117,244
4.80%, 07/08/44 (Call 01/08/44)		1,400		1,837,482
5.15%, 05/22/45		2,165		2,881,237
6.13%, 02/15/33		580		826,267
6.25%, 02/01/41		1,779		2,665,865
6.45%, 05/01/36^(b)		305		426,119
6.75%, 10/01/37		4,195		6,111,978
HBOS PLC, 6.00%, 11/01/33^(a)		400		519,543
HSBC Bank USA N.A., 7.00%, 01/15/39		370		546,581
HSBC Holdings PLC
5.25%, 03/14/44		1,215		1,543,763
6.10%, 01/14/42		1,198		1,727,049
6.50%, 05/02/36		1,565		2,109,357
6.50%, 09/15/37		1,725		2,340,252
6.80%, 06/01/38		1,685		2,375,286
7.63%, 05/17/32		1,011		1,420,783
HSBC USA Inc., 7.20%, 07/15/97		60		93,110
JPMorgan Chase & Co.
3.11%, 04/22/41 (Call 04/22/40)^(b)(c)		1,150		1,231,288
3.11%, 04/22/51 (Call 04/22/50)^(c)		2,046		2,161,361
3.88%, 07/24/38 (Call 07/24/37)^(c)		2,480		2,914,133
3.90%, 01/23/49 (Call 01/23/48)^(c)		1,760		2,113,649
3.96%, 11/15/48 (Call 11/15/47)^(c)		2,532		3,063,878
4.03%, 07/24/48 (Call 07/24/47)^(c)		1,685		2,026,525
4.26%, 02/22/48 (Call 02/22/47)^(c)		1,575		1,987,067
4.85%, 02/01/44		945		1,295,383
4.95%, 06/01/45		943		1,263,256
5.40%, 01/06/42^(b)		905		1,302,138
5.50%, 10/15/40		1,165		1,669,166
5.60%, 07/15/41		1,530		2,231,196
5.63%, 08/16/43		1,013		1,469,850
6.40%, 05/15/38^(b)		1,396		2,125,788
Lloyds Banking Group PLC
4.34%, 01/09/48		1,110		1,310,719
5.30%, 12/01/45^(b)		920		1,214,751
Mitsubishi UFJ Financial Group Inc.
3.75%, 07/18/39		855		981,209
4.15%, 03/07/39		1,044		1,253,628
4.29%, 07/26/38^(b)		600		727,503


Security	Par (000)		Value

Banks (continued)
Morgan Stanley
3.97%, 07/22/38 (Call 07/22/37)^(c)	$	1,627	$	1,942,431
4.30%, 01/27/45		2,264		2,926,818
4.38%, 01/22/47^(b)		1,935		2,546,973
4.46%, 04/22/39 (Call 04/22/38)^(c)		939		1,177,892
5.60%, 03/24/51 (Call 03/24/50)^(c)		1,089		1,648,404
6.38%, 07/24/42		1,854		2,888,411
7.25%, 04/01/32		808		1,221,765
Natwest Group PLC, 3.03%, 11/28/35 (Call 08/28/30)^(c)		1,000		969,920
Regions Bank/Birmingham AL, 6.45%, 06/26/37^(b)		525		716,507
Regions Financial Corp., 7.38%, 12/10/37		204		298,952
Santander UK Group Holdings PLC, 5.63%, 09/15/45^(a)(b)		385		486,127
Societe Generale SA, 5.63%, 11/24/45^(a)(b)		480		590,282
Standard Chartered PLC
5.30%, 01/09/43^(a)(b)		765		895,292
5.70%, 03/26/44^(a)(b)		1,845		2,288,740
UBS AG/London, 4.50%, 06/26/48^(a)(b)		1,444		1,998,480
Wachovia Corp.
5.50%, 08/01/35		975		1,263,800
6.55%, 10/15/35		260		356,555
7.50%, 04/15/35		175		255,919
Wells Fargo & Co.
3.07%, 04/30/41 (Call 04/30/40)^(b)(c)		520		538,004
3.90%, 05/01/45		2,212		2,572,296
4.40%, 06/14/46		1,386		1,631,556
4.65%, 11/04/44		1,226		1,486,263
4.75%, 12/07/46		2,025		2,491,946
4.90%, 11/17/45		760		956,130
5.01%, 04/04/51 (Call 04/04/50)^(c)		5,000		6,764,420
5.38%, 02/07/35		568		762,924
5.38%, 11/02/43		1,489		1,960,552
5.61%, 01/15/44		2,017		2,712,663
5.95%, 12/01/86		668		867,409
Wells Fargo Bank N.A.
5.85%, 02/01/37		775		1,038,998
5.95%, 08/26/36		1,070		1,436,203
6.60%, 01/15/38		1,245		1,798,284
Westpac Banking Corp., 4.42%, 07/24/39		818		990,115


				185,206,804

Beverages — 3.4%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
4.70%, 02/01/36 (Call 08/01/35)		4,172		5,125,984
4.90%, 02/01/46 (Call 08/01/45)		6,220		7,607,918
Anheuser-Busch InBev Finance Inc.
4.00%, 01/17/43		958		1,042,032
4.63%, 02/01/44		1,307		1,546,077
4.70%, 02/01/36 (Call 08/01/35)		675		805,385
4.90%, 02/01/46 (Call 08/01/45)^(b)		1,324		1,594,553
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42		965		1,034,154
4.35%, 06/01/40 (Call 12/01/39)		1,435		1,689,960
4.38%, 04/15/38 (Call 10/15/37)		1,480		1,731,471
4.44%, 10/06/48 (Call 04/06/48)		1,591		1,850,006
4.50%, 06/01/50 (Call 12/01/49)		1,470		1,736,492
4.60%, 04/15/48 (Call 10/15/47)		2,213		2,622,151
4.60%, 06/01/60 (Call 12/01/59)		955		1,141,229
4.75%, 04/15/58 (Call 10/15/57)^(b)		1,835		2,215,406
4.90%, 01/23/31 (Call 10/23/30)^(b)		698		876,330
4.95%, 01/15/42		1,341		1,631,380


Security	Par (000)		Value

Beverages (continued)
5.45%, 01/23/39 (Call 07/23/38)	$	1,660	$	2,148,173
5.55%, 01/23/49 (Call 07/23/48)		2,725		3,674,774
5.80%, 01/23/59 (Call 07/23/58)^(b)		952		1,342,936
5.88%, 06/15/35		130		183,104
8.00%, 11/15/39		325		526,501
8.20%, 01/15/39		927		1,522,198
Bacardi Ltd.
5.15%, 05/15/38 (Call 11/15/37)^(a)		580		698,469
5.30%, 05/15/48 (Call 11/15/47)^(a)(b)		535		681,785
Brown-Forman Corp.
4.00%, 04/15/38 (Call 10/15/37)		215		255,673
4.50%, 07/15/45 (Call 01/15/45)		413		537,467
Coca-Cola Co. (The)
2.50%, 06/01/40		1,265		1,332,684
2.50%, 03/15/51		1,305		1,286,097
2.60%, 06/01/50		1,385		1,388,742
2.75%, 06/01/60		661		663,253
4.20%, 03/25/50		300		392,961
Coca-Cola FEMSA SAB de CV, 5.25%, 11/26/43^(b)		306		414,101
Constellation Brands Inc.
3.75%, 05/01/50 (Call 11/01/49)		95		105,908
4.10%, 02/15/48 (Call 08/15/47)^(b)		500		581,818
4.50%, 05/09/47 (Call 11/09/46)		665		812,784
5.25%, 11/15/48 (Call 05/15/48)		673		902,662
Diageo Capital PLC
2.13%, 04/29/32 (Call 01/29/32)		603		626,272
3.88%, 04/29/43 (Call 10/29/42)		846		1,010,649
5.88%, 09/30/36		711		994,762
Diageo Investment Corp., 4.25%, 05/11/42		220		270,295
Fomento Economico Mexicano SAB de CV
3.50%, 01/16/50 (Call 07/16/49)		2,685		2,798,768
4.38%, 05/10/43		330		395,098
Heineken NV
4.00%, 10/01/42^(a)(b)		678		793,078
4.35%, 03/29/47 (Call 09/29/46)^(a)		120		147,025
Keurig Dr Pepper Inc.
3.80%, 05/01/50 (Call 11/01/49)		100		113,969
4.42%, 12/15/46 (Call 06/15/46)		613		752,781
4.50%, 11/15/45 (Call 05/15/45)		675		831,424
4.99%, 05/25/38 (Call 11/25/37)		840		1,077,017
5.09%, 05/25/48 (Call 11/25/47)		600		797,785
Molson Coors Beverage Co.
4.20%, 07/15/46 (Call 01/15/46)		1,077		1,128,206
5.00%, 05/01/42^(b)		800		910,455
PepsiCo Inc.
2.88%, 10/15/49 (Call 04/15/49)		1,176		1,257,801
3.38%, 07/29/49 (Call 01/29/49)		853		981,668
3.45%, 10/06/46 (Call 04/06/46)		1,125		1,299,454
3.50%, 03/19/40 (Call 09/19/39)		280		332,852
3.60%, 08/13/42		455		541,254
3.63%, 03/19/50 (Call 09/19/49)		2,215		2,677,538
3.88%, 03/19/60 (Call 09/19/59)		145		182,001
4.00%, 03/05/42		617		770,245
4.00%, 05/02/47 (Call 11/02/46)		870		1,091,723
4.25%, 10/22/44 (Call 04/22/44)		656		828,231
4.45%, 04/14/46 (Call 10/14/45)		1,354		1,786,481
4.60%, 07/17/45 (Call 01/17/45)^(b)		235		314,336
Pernod Ricard International Finance LLC, 2.75%, 10/01/50 (Call 04/01/50)^(a)		500		478,037


Security	Par (000)		Value

Beverages (continued)
Pernod Ricard SA, 5.50%, 01/15/42^(a)(b)	$	665	$	921,360


				79,813,183

Biotechnology — 1.4%
Amgen Inc.
2.77%, 09/01/53 (Call 03/01/53)^(a)		1,995		1,890,695
3.15%, 02/21/40 (Call 08/21/39)		2,030		2,134,893
3.38%, 02/21/50 (Call 08/21/49)		2,187		2,327,373
4.40%, 05/01/45 (Call 11/01/44)		1,638		1,998,855
4.56%, 06/15/48 (Call 12/15/47)		1,280		1,645,591
4.66%, 06/15/51 (Call 12/15/50)		2,689		3,483,611
4.95%, 10/01/41		366		477,739
5.15%, 11/15/41 (Call 05/15/41)		536		717,373
6.40%, 02/01/39		100		152,737
Baxalta Inc., 5.25%, 06/23/45 (Call 12/23/44)^(b)		354		471,676
Biogen Inc.
3.15%, 05/01/50 (Call 11/01/49)		1,440		1,393,506
5.20%, 09/15/45 (Call 03/15/45)		1,415		1,839,587
Gilead Sciences Inc.
2.60%, 10/01/40 (Call 04/01/40)		995		964,639
2.80%, 10/01/50 (Call 04/01/50)		1,125		1,095,929
4.00%, 09/01/36 (Call 03/01/36)		875		1,038,045
4.15%, 03/01/47 (Call 09/01/46)		1,230		1,455,346
4.50%, 02/01/45 (Call 08/01/44)		1,466		1,811,065
4.60%, 09/01/35 (Call 03/01/35)		1,200		1,521,663
4.75%, 03/01/46 (Call 09/01/45)		1,514		1,923,401
4.80%, 04/01/44 (Call 10/01/43)		1,355		1,722,192
5.65%, 12/01/41 (Call 06/01/41)^(b)		980		1,366,162
Regeneron Pharmaceuticals Inc., 2.80%, 09/15/50 (Call 03/15/50)		810		760,638
Royalty Pharma PLC
3.30%, 09/02/40 (Call 03/02/40)^(a)		790		777,217
3.55%, 09/02/50 (Call 03/02/50)^(a)		1,015		971,611


				33,941,544

Building Materials — 0.5%
Carrier Global Corp.
2.70%, 02/15/31 (Call 11/15/30)^(a)		1,065		1,116,562
3.38%, 04/05/40 (Call 10/05/39)^(a)		1,395		1,474,525
3.58%, 04/05/50 (Call 10/05/49)^(a)		1,266		1,367,069
CRH America Finance Inc.
4.40%, 05/09/47 (Call 11/09/46)^(a)		100		114,523
4.50%, 04/04/48 (Call 10/04/47)^(a)		751		875,092
Johnson Controls International PLC
4.50%, 02/15/47 (Call 08/15/46)		373		458,987
4.63%, 07/02/44 (Call 01/02/44)		537		658,244
4.95%, 07/02/64 (Call 01/02/64)^(e)		415		529,361
5.13%, 09/14/45 (Call 03/14/45)		343		447,608
6.00%, 01/15/36		135		182,676
Lafarge SA, 7.13%, 07/15/36		200		282,114
Martin Marietta Materials Inc., 4.25%, 12/15/47 (Call 06/15/47)		579		657,856
Masco Corp., 4.50%, 05/15/47 (Call 11/15/46)		469		556,031
Owens Corning
4.30%, 07/15/47 (Call 01/15/47)		721		795,748
4.40%, 01/30/48 (Call 07/30/47)		354		393,101
7.00%, 12/01/36		249		340,250
Votorantim Cimentos SA, 7.25%, 04/05/41^(a)		500		639,275


Security	Par (000)		Value

Building Materials (continued)
Vulcan Materials Co.
4.50%, 06/15/47 (Call 12/15/46)	$	234	$	275,056
4.70%, 03/01/48 (Call 09/01/47)		630		767,142


				11,931,220

Chemicals — 1.8%
Air Products and Chemicals Inc.
2.70%, 05/15/40 (Call 11/15/39)		968		1,015,597
2.80%, 05/15/50 (Call 11/15/49)		978		1,019,446
Albemarle Corp., 5.45%, 12/01/44 (Call 06/01/44)		368		418,903
Dow Chemical Co. (The)
3.60%, 11/15/50 (Call 05/15/50)		715		727,975
4.25%, 10/01/34 (Call 04/01/34)		1,694		1,952,781
4.38%, 11/15/42 (Call 05/15/42)		483		551,908
4.63%, 10/01/44 (Call 04/01/44)		665		777,698
4.80%, 05/15/49 (Call 11/15/48)		1,150		1,398,686
5.25%, 11/15/41 (Call 05/15/41)		116		143,449
5.55%, 11/30/48 (Call 05/30/48)^(b)		640		851,547
9.40%, 05/15/39		551		946,420
DuPont de Nemours Inc.
5.32%, 11/15/38 (Call 05/15/38)		1,351		1,749,109
5.42%, 11/15/48 (Call 05/15/48)		2,000		2,702,399
Eastman Chemical Co.
4.65%, 10/15/44 (Call 04/15/44)		1,194		1,424,680
4.80%, 09/01/42 (Call 03/01/42)		478		576,941
Ecolab Inc.
2.13%, 08/15/50 (Call 02/15/50)^(b)		700		627,019
3.70%, 11/01/46 (Call 05/01/46)^(b)		225		260,302
3.95%, 12/01/47 (Call 06/01/47)		707		868,869
5.50%, 12/08/41		278		394,610
FMC Corp., 4.50%, 10/01/49 (Call 04/01/49)		567		683,669
International Flavors & Fragrances Inc.
4.38%, 06/01/47 (Call 12/01/46)		275		312,677
5.00%, 09/26/48 (Call 03/26/48)		345		429,356
Linde Inc./CT
2.00%, 08/10/50 (Call 02/10/50)		724		635,388
3.55%, 11/07/42 (Call 05/07/42)^(b)		725		835,672
Lubrizol Corp. (The), 6.50%, 10/01/34		350		542,728
LYB International Finance BV
4.88%, 03/15/44 (Call 09/15/43)		975		1,154,232
5.25%, 07/15/43		810		990,764
LYB International Finance III LLC
3.38%, 10/01/40 (Call 04/01/40)		135		133,922
3.63%, 04/01/51 (Call 10/01/50)		765		763,982
3.80%, 10/01/60 (Call 04/01/60)		230		219,475
4.20%, 10/15/49 (Call 04/15/49)		590		637,787
4.20%, 05/01/50 (Call 11/01/49)		335		365,135
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)		883		991,413
Mosaic Co. (The)
4.88%, 11/15/41 (Call 05/15/41)		230		245,093
5.45%, 11/15/33 (Call 05/15/33)		393		460,245
5.63%, 11/15/43 (Call 05/15/43)		145		170,259
Nutrien Ltd.
3.95%, 05/13/50 (Call 11/13/49)^(b)		826		946,625
4.13%, 03/15/35 (Call 09/15/34)		113		130,356
4.90%, 06/01/43 (Call 12/01/42)		170		207,779
5.00%, 04/01/49 (Call 10/01/48)		773		1,011,825
5.25%, 01/15/45 (Call 07/15/44)		229		293,348
5.63%, 12/01/40		495		640,176
5.88%, 12/01/36		241		310,120


Security	Par (000)		Value

Chemicals (continued)
6.13%, 01/15/41 (Call 07/15/40)	$	650	$	893,351
7.13%, 05/23/36^(b)		128		177,331
Nutrition & Biosciences Inc.
2.30%, 11/01/30 (Call 08/01/30)^(a)		1,000		1,005,618
3.27%, 11/15/40 (Call 05/15/40)^(a)		425		436,243
3.47%, 12/01/50 (Call 06/01/50)^(a)		1,250		1,279,557
Orbia Advance Corp. SAB de CV, 5.88%, 09/17/44^(a)		900		1,047,141
RPM International Inc.
4.25%, 01/15/48 (Call 07/15/47)		560		583,520
5.25%, 06/01/45 (Call 12/01/44)		64		74,915
Sherwin-Williams Co. (The)
3.30%, 05/15/50 (Call 11/15/49)		125		133,028
3.80%, 08/15/49 (Call 02/15/49)		635		726,934
4.00%, 12/15/42 (Call 06/15/42)		285		315,556
4.50%, 06/01/47 (Call 12/01/46)^(b)		1,465		1,835,238
4.55%, 08/01/45 (Call 02/01/45)		120		146,797
Syngenta Finance NV, 5.68%, 04/24/48 (Call 10/24/47)^(a)		507		554,323
Westlake Chemical Corp.
4.38%, 11/15/47 (Call 05/15/47)		600		643,482
5.00%, 08/15/46 (Call 02/15/46)		430		502,331


				41,875,730

Commercial Services — 1.3%
American University (The), Series 2019, 3.67%, 04/01/49		500		534,450
California Institute of Technology
3.65%, 09/01/2119 (Call 03/01/2119)		15		15,232
4.70%, 11/01/2111		145		189,173
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114^(b)		210		281,689
DP World PLC
4.70%, 09/30/49 (Call 03/30/49)^(a)		300		306,000
5.63%, 09/25/48^(a)		1,114		1,271,353
6.85%, 07/02/37^(a)(b)		860		1,078,610
Duke University
3.30%, 10/01/46^(b)		25		28,249
Series 2020, 2.68%, 10/01/44^(b)		615		629,121
Series 2020, 2.83%, 10/01/55		100		102,834
Equifax Inc., 7.00%, 07/01/37		110		144,402
ERAC USA Finance LLC
4.20%, 11/01/46 (Call 05/01/46)^(a)		190		217,807
4.50%, 02/15/45 (Call 08/15/44)^(a)		100		118,047
5.63%, 03/15/42^(a)		225		295,938
7.00%, 10/15/37^(a)(b)		1,964		2,876,935
Ford Foundation (The), Series 2020, 2.82%, 06/01/70 (Call 12/01/69)		573		561,315
George Washington University (The), Series 2018, 4.13%, 09/15/48 (Call 03/15/48)^(b)		1,222		1,441,485
Georgetown University (The)
Series 20A, 2.94%, 04/01/50		173		164,957
Series A, 5.22%, 12/31/99 (Call 04/01/2118)		75		96,024
Global Payments Inc., 4.15%, 08/15/49 (Call 02/15/49)		811		939,757
Johns Hopkins University, Series 2013, 4.08%, 07/01/53^(b)		36		46,272
Leland Stanford Junior University (The)
2.41%, 06/01/50 (Call 12/01/49)		95		94,527
3.65%, 05/01/48 (Call 11/01/47)		542		656,165
Massachusetts Institute of Technology
3.89%, 07/01/2116		585		666,032
3.96%, 07/01/38		59		70,941
4.68%, 12/31/99		335		467,917
5.60%, 12/31/99		625		1,040,309
Series F, 2.99%, 07/01/50 (Call 01/01/50)^(b)		625		711,193


Security	Par (000)		Value

Commercial Services (continued)
Moody’s Corp.
2.55%, 08/18/60 (Call 02/18/60)	$	410	$	366,324
3.25%, 05/20/50 (Call 11/20/49)		85		89,205
4.88%, 12/17/48 (Call 06/17/48)		159		212,353
5.25%, 07/15/44		600		806,929
Northeastern University, Series 2020, 2.89%, 10/01/50		200		201,347
Northwestern University
4.64%, 12/01/44		355		464,201
Series 2017, 3.66%, 12/01/57 (Call 06/01/57)		55		65,108
PayPal Holdings Inc., 3.25%, 06/01/50 (Call 12/01/49)		846		913,138
President and Fellows of Harvard College
2.52%, 10/15/50 (Call 04/15/50)		21		21,499
3.15%, 07/15/46 (Call 01/15/46)^(b)		581		656,361
3.30%, 07/15/56 (Call 01/15/56)		385		451,843
3.62%, 10/01/37		344		402,393
4.88%, 10/15/40		200		272,639
S&P Global Inc.
2.30%, 08/15/60 (Call 02/15/60)		519		463,583
3.25%, 12/01/49 (Call 06/01/49)		1,040		1,159,480
Trustees of Boston College, 3.13%, 07/01/52^(b)		580		615,681
Trustees of Boston University, Series CC, 4.06%, 10/01/48 (Call 04/01/48)		390		485,660
Trustees of Dartmouth College, 3.47%, 06/01/46^(b)		260		284,686
Trustees of Princeton University (The) 5.70%, 03/01/39		515		768,019
Series 2020, 2.52%, 07/01/50 (Call 01/01/50)		35		35,764
Trustees of the University of Pennsylvania (The), 3.61%, 02/15/2119 (Call 08/15/2118)		40		41,299
Tufts University, Series 2012, 5.02%, 04/15/2112^(b)		150		184,544
University of Chicago (The)
4.00%, 10/01/53 (Call 04/01/53)		50		60,395
Series C, 2.55%, 04/01/50 (Call 10/01/49)		400		377,660
University of Notre Dame du Lac
Series 2015, 3.44%, 02/15/45		149		169,245
Series 2017, 3.39%, 02/15/48 (Call 08/15/47)		336		380,816
University of Southern California
2.81%, 10/01/50 (Call 04/01/50)		436		449,911
3.03%, 10/01/39		1,266		1,348,734
5.25%, 10/01/2111		250		379,372
Series 2017, 3.84%, 10/01/47 (Call 04/01/47)		280		339,564
Verisk Analytics Inc.
3.63%, 05/15/50 (Call 11/15/49)		750		833,827
5.50%, 06/15/45 (Call 12/15/44)^(b)		214		292,817
Wesleyan University, 4.78%, 07/01/2116^(b)		150		184,783
William Marsh Rice University
3.57%, 05/15/45		331		388,229
3.77%, 05/15/55		125		156,443
Yale University, Series 2020, 2.40%, 04/15/50 (Call 10/15/49)		218		215,599


				29,586,185

Computers — 1.8%
Apple Inc.
2.40%, 08/20/50 (Call 06/20/50)		1,250		1,223,611
2.55%, 08/20/60 (Call 02/20/60)		1,268		1,221,314
2.65%, 05/11/50 (Call 11/11/49)		1,614		1,628,067
2.95%, 09/11/49 (Call 03/11/49)		1,261		1,353,760
3.45%, 02/09/45		1,694		1,986,817
3.75%, 09/12/47 (Call 03/12/47)		585		708,410
3.75%, 11/13/47 (Call 05/13/47)		1,250		1,511,860
3.85%, 05/04/43		1,918		2,353,291


Security	Par (000)		Value

Computers (continued)
3.85%, 08/04/46 (Call 02/04/46)	$	1,970	$	2,413,854
4.25%, 02/09/47 (Call 08/09/46)		1,165		1,535,472
4.38%, 05/13/45		1,880		2,489,311
4.45%, 05/06/44		1,110		1,479,454
4.50%, 02/23/36 (Call 08/23/35)		1,068		1,413,486
4.65%, 02/23/46 (Call 08/23/45)^(b)		2,399		3,266,922
Dell International LLC/EMC Corp.
8.10%, 07/15/36 (Call 01/15/36)^(a)		1,496		2,020,716
8.35%, 07/15/46 (Call 01/15/46)^(a)		1,359		1,855,284
Hewlett Packard Enterprise Co.
6.20%, 10/15/35 (Call 04/15/35)		750		927,652
6.35%, 10/15/45 (Call 04/15/45)		1,351		1,728,787
HP Inc., 6.00%, 09/15/41		1,149		1,400,234
International Business Machines Corp.
2.85%, 05/15/40 (Call 11/15/39)		460		474,994
2.95%, 05/15/50 (Call 11/15/49)		600		603,111
4.00%, 06/20/42		1,175		1,398,292
4.15%, 05/15/39		1,138		1,388,225
4.25%, 05/15/49		2,500		3,087,463
4.70%, 02/19/46^(b)		820		1,094,805
5.60%, 11/30/39		705		988,036
5.88%, 11/29/32		356		511,389
7.13%, 12/01/96^(b)		117		196,640
Seagate HDD Cayman
4.13%, 01/15/31 (Call 10/15/30)^(a)		300		323,328
5.75%, 12/01/34 (Call 06/01/34)^(b)		606		690,321


				43,274,906

Cosmetics & Personal Care — 0.2%
Colgate-Palmolive Co.
3.70%, 08/01/47 (Call 02/01/47)		320		417,263
4.00%, 08/15/45		330		431,339
Estee Lauder Companies Inc. (The)
3.13%, 12/01/49 (Call 06/01/49)^(b)		700		776,280
3.70%, 08/15/42		290		303,653
4.15%, 03/15/47 (Call 09/15/46)		210		262,899
4.38%, 06/15/45 (Call 12/15/44)		650		807,408
6.00%, 05/15/37		255		363,920
Unilever Capital Corp., 5.90%, 11/15/32		1,752		2,551,226


				5,913,988

Distribution & Wholesale — 0.1%
WW Grainger Inc.
3.75%, 05/15/46 (Call 11/15/45)		280		311,968
4.20%, 05/15/47 (Call 11/15/46)		195		235,212
4.60%, 06/15/45 (Call 12/15/44)		953		1,220,148


				1,767,328

Diversified Financial Services — 1.7%
Ally Financial Inc., 8.00%, 11/01/31		2,320		3,194,842
American Express Co., 4.05%, 12/03/42^(b)		1,077		1,338,537
Blackstone Holdings Finance Co. LLC
2.80%, 09/30/50 (Call 03/30/50)^(a)		548		545,242
3.50%, 09/10/49 (Call 03/10/49)^(a)(b)		600		651,882
4.00%, 10/02/47 (Call 04/02/47)^(a)(b)		340		396,414
4.45%, 07/15/45^(a)		200		244,683
5.00%, 06/15/44^(a)		61		80,641
Brookfield Finance Inc.
3.50%, 03/30/51 (Call 09/30/50)		300		294,855
4.70%, 09/20/47 (Call 03/20/47)		765		888,668
Brookfield Finance LLC, 3.45%, 04/15/50 (Call 10/15/49)		625		610,559


Security	Par (000)		Value

Diversified Financial Services (continued)
CME Group Inc.
4.15%, 06/15/48 (Call 12/15/47)	$	731	$	953,260
5.30%, 09/15/43 (Call 03/15/43)		827		1,203,424
Credit Suisse USA Inc., 7.13%, 07/15/32		170		256,202
FMR LLC
4.95%, 02/01/33		250		334,391
5.15%, 02/01/43^(a)		275		373,569
6.50%, 12/14/40^(a)		500		771,397
GE Capital Funding LLC, 4.55%, 05/15/32 (Call 02/15/32)^(a)		1,250		1,374,324
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35		7,680		8,304,636
Invesco Finance PLC, 5.38%, 11/30/43		336		420,260
Jefferies Financial Group Inc., 6.63%, 10/23/43 (Call 07/23/43)		245		302,833
Jefferies Group LLC
6.25%, 01/15/36		430		541,437
6.50%, 01/20/43		95		122,412
KKR Group Finance Co. II LLC, 5.50%, 02/01/43 (Call 08/01/42)^(a)		550		689,731
Legg Mason Inc., 5.63%, 01/15/44		465		637,028
Mastercard Inc.
3.65%, 06/01/49 (Call 12/01/48)		1,023		1,232,270
3.80%, 11/21/46 (Call 05/21/46)		450		552,082
3.85%, 03/26/50 (Call 09/26/49)		948		1,180,078
3.95%, 02/26/48 (Call 08/26/47)^(b)		682		852,569
Nasdaq Inc., 3.25%, 04/28/50 (Call 10/28/49)		786		810,176
Neuberger Berman Group LLC/Neuberger Berman Finance Corp., 4.88%, 04/15/45 (Call 10/15/44)^(a)		50		54,726
Raymond James Financial Inc., 4.95%, 07/15/46		1,221		1,607,351
Visa Inc.
2.00%, 08/15/50 (Call 02/15/50)		1,123		1,026,437
2.70%, 04/15/40 (Call 10/15/39)		100		106,949
3.65%, 09/15/47 (Call 03/15/47)		934		1,146,984
4.15%, 12/14/35 (Call 06/14/35)		1,581		2,020,852
4.30%, 12/14/45 (Call 06/14/45)		2,815		3,682,391
Western Union Co. (The)
6.20%, 11/17/36^(b)		700		832,901
6.20%, 06/21/40		140		164,749


				39,801,742

Electric — 11.9%
Abu Dhabi National Energy Co. PJSC
4.00%, 10/03/49^(a)		200		233,280
6.50%, 10/27/36^(a)(b)		800		1,166,733
Acwa Power Management And Investments One Ltd., 5.95%, 12/15/39^(a)(b)		225		257,625
AEP Texas Inc.
3.80%, 10/01/47 (Call 04/01/47)		78		88,040
Series E, 6.65%, 02/15/33		144		197,705
Series G, 4.15%, 05/01/49 (Call 11/01/48)		295		349,825
Series H, 3.45%, 01/15/50 (Call 07/15/49)		515		552,956
AEP Transmission Co. LLC
3.15%, 09/15/49 (Call 03/15/49)		78		84,259
3.75%, 12/01/47 (Call 06/01/47)		1,064		1,250,767
3.80%, 06/15/49 (Call 12/15/48)		420		497,898
4.00%, 12/01/46 (Call 06/01/46)		465		553,877
4.25%, 09/15/48 (Call 03/15/48)		320		399,564
Series M, 3.65%, 04/01/50 (Call 10/01/49)		120		139,616
Alabama Power Co.
3.45%, 10/01/49 (Call 04/01/49)		515		583,478


Security	Par (000)		Value

Electric (continued)
3.75%, 03/01/45 (Call 09/01/44)	$	625	$	721,907
3.85%, 12/01/42		220		259,876
4.10%, 01/15/42		85		98,241
4.15%, 08/15/44 (Call 02/15/44)		367		441,995
4.30%, 01/02/46 (Call 07/02/45)		425		529,293
5.70%, 02/15/33		50		68,255
6.00%, 03/01/39		400		576,557
6.13%, 05/15/38		20		29,085
Series 11-C, 5.20%, 06/01/41		335		444,868
Series A, 4.30%, 07/15/48 (Call 01/15/48)		1,135		1,427,046
Series B, 3.70%, 12/01/47 (Call 06/01/47)		985		1,140,580
Ameren Corp., 3.50%, 01/15/31 (Call 10/15/30)		100		113,795
Ameren Illinois Co.
3.25%, 03/15/50 (Call 09/15/49)		508		563,952
3.70%, 12/01/47 (Call 06/01/47)		745		861,631
4.15%, 03/15/46 (Call 09/15/45)		25		30,901
4.30%, 07/01/44 (Call 01/01/44)		200		243,861
4.50%, 03/15/49 (Call 09/15/48)		418		549,665
4.80%, 12/15/43 (Call 06/15/43)		295		377,736
American Transmission Systems Inc., 5.00%, 09/01/44 (Call 03/01/44)^(a)		325		393,776
Appalachian Power Co.
4.40%, 05/15/44 (Call 11/15/43)^(b)		91		108,858
4.45%, 06/01/45 (Call 12/01/44)^(b)		405		504,765
7.00%, 04/01/38		373		563,052
Series L, 5.80%, 10/01/35		212		290,697
Series P, 6.70%, 08/15/37		130		180,263
Series Y, 4.50%, 03/01/49 (Call 09/01/48)		330		414,446
Series Z, 3.70%, 05/01/50 (Call 11/01/49)		205		232,853
Arizona Public Service Co.
2.65%, 09/15/50 (Call 03/15/50)^(b)		1,025		1,004,960
3.35%, 05/15/50 (Call 11/15/49)		125		138,269
3.50%, 12/01/49 (Call 06/01/49)		205		230,856
3.75%, 05/15/46 (Call 11/15/45)		630		732,880
4.20%, 08/15/48 (Call 02/15/48)^(b)		87		105,929
4.25%, 03/01/49 (Call 09/01/48)		610		750,205
4.35%, 11/15/45 (Call 05/15/45)		365		458,516
4.50%, 04/01/42 (Call 10/01/41)		351		440,960
5.05%, 09/01/41 (Call 03/01/41)		160		209,248
Avista Corp., 4.35%, 06/01/48 (Call 12/01/47)		396		485,080
Baltimore Gas & Electric Co.
2.90%, 06/15/50 (Call 12/15/49)		120		122,243
3.20%, 09/15/49 (Call 03/15/49)		460		490,097
3.50%, 08/15/46 (Call 02/15/46)		395		442,640
3.75%, 08/15/47 (Call 02/15/47)		73		84,309
4.25%, 09/15/48 (Call 03/15/48)		250		313,016
Basin Electric Power Cooperative, 4.75%, 04/26/47 (Call 10/26/46)^(a)		350		403,630
Berkshire Hathaway Energy Co.
2.85%, 05/15/51 (Call 11/15/50)^(a)		600		590,067
3.80%, 07/15/48 (Call 01/15/48)		1,027		1,182,852
4.25%, 10/15/50 (Call 04/15/50)^(a)		320		396,177
4.45%, 01/15/49 (Call 07/15/48)		953		1,203,766
4.50%, 02/01/45 (Call 08/01/44)		553		691,596
5.15%, 11/15/43 (Call 05/15/43)		747		1,002,013
5.95%, 05/15/37		800		1,132,227
6.13%, 04/01/36		772		1,107,545
Black Hills Corp.
3.88%, 10/15/49 (Call 04/15/49)		440		481,667
4.20%, 09/15/46 (Call 03/15/46)		285		334,031


Security	Par (000)		Value

Electric (continued)
4.35%, 05/01/33 (Call 02/01/33)	$	226	$	268,864
Celeo Redes Operacion Chile SA, 5.20%, 06/22/47^(a)		194		224,846
CenterPoint Energy Houston Electric LLC
3.55%, 08/01/42 (Call 02/01/42)^(b)		485		550,960
3.95%, 03/01/48 (Call 09/01/47)		335		409,543
4.50%, 04/01/44 (Call 10/01/43)		465		598,297
Series AC, 4.25%, 02/01/49 (Call 08/01/48)		360		456,929
Series AD, 2.90%, 07/01/50 (Call 01/01/50)		390		407,835
Series K2, 6.95%, 03/15/33		100		149,057
CenterPoint Energy Inc., 3.70%, 09/01/49 (Call 03/01/49)		440		486,173
Cleco Corporate Holdings LLC, 4.97%, 05/01/46 (Call 11/01/45)		520		578,832
Cleco Power LLC, 6.00%, 12/01/40		293		377,722
Cleveland Electric Illuminating Co. (The)
4.55%, 11/15/30 (Call 08/15/30)^(a)		100		112,982
5.95%, 12/15/36		447		556,735
CMS Energy Corp.
4.70%, 03/31/43 (Call 09/30/42)		110		134,416
4.88%, 03/01/44 (Call 09/01/43)		346		445,594
Cometa Energia SA de CV, 6.38%, 04/24/35 (Call 01/24/35)^(a)		375		414,623
Comision Federal de Electricidad
5.75%, 02/14/42^(a)(b)		600		660,000
6.13%, 06/16/45^(a)		400		475,504
Commonwealth Edison Co.
3.00%, 03/01/50 (Call 09/01/49)		125		131,382
3.65%, 06/15/46 (Call 12/15/45)		500		579,044
3.70%, 03/01/45 (Call 09/01/44)		315		361,763
3.80%, 10/01/42 (Call 04/01/42)		629		731,438
4.00%, 03/01/48 (Call 09/01/47)		825		995,492
4.00%, 03/01/49 (Call 09/01/48)		510		619,255
4.35%, 11/15/45 (Call 05/15/45)		375		471,397
4.60%, 08/15/43 (Call 02/15/43)		150		190,528
4.70%, 01/15/44 (Call 07/15/43)		275		358,617
6.45%, 01/15/38		129		196,554
Series 123, 3.75%, 08/15/47 (Call 02/15/47)		400		469,485
Series 127, 3.20%, 11/15/49 (Call 05/15/49)		355		386,369
Connecticut Light & Power Co. (The)
4.00%, 04/01/48 (Call 10/01/47)		85		106,515
4.30%, 04/15/44 (Call 10/15/43)		703		893,902
Consolidated Edison Co. of New York Inc.
3.70%, 11/15/59 (Call 05/15/59)		225		255,616
3.85%, 06/15/46 (Call 12/15/45)^(b)		853		984,913
3.95%, 03/01/43 (Call 09/01/42)		600		691,088
4.45%, 03/15/44 (Call 09/15/43)		803		980,326
4.50%, 12/01/45 (Call 06/01/45)		732		916,459
4.50%, 05/15/58 (Call 11/15/57)		440		567,858
4.63%, 12/01/54 (Call 06/01/54)		803		1,050,951
5.70%, 06/15/40		195		273,272
Series 05-A, 5.30%, 03/01/35		155		205,948
Series 06-A, 5.85%, 03/15/36		325		437,420
Series 06-B, 6.20%, 06/15/36		395		552,617
Series 06-E, 5.70%, 12/01/36^(b)		115		153,807
Series 07-A, 6.30%, 08/15/37		158		227,213
Series 08-B, 6.75%, 04/01/38		535		808,004
Series 09-C, 5.50%, 12/01/39		465		633,820
Series 12-A, 4.20%, 03/15/42		173		204,598
Series 2017, 3.88%, 06/15/47 (Call 12/15/46)		660		768,697
Series 20B, 3.95%, 04/01/50 (Call 10/01/49)		930		1,098,036
Series A, 4.13%, 05/15/49 (Call 11/15/48)		415		501,170


Security	Par (000)		Value

Electric (continued)
Series C, 4.00%, 11/15/57 (Call 05/15/57)	$	59	$	69,920
Series C, 4.30%, 12/01/56 (Call 06/01/56)		402		500,338
Series E, 4.65%, 12/01/48 (Call 06/01/48)		510		667,434
Consorcio Transmantaro SA, 4.70%, 04/16/34^(a)		500		596,000
Consumers Energy Co.
2.50%, 05/01/60 (Call 11/01/59)		738		691,296
3.10%, 08/15/50 (Call 02/15/50)		855		929,761
3.25%, 08/15/46 (Call 02/15/46)		450		488,211
3.50%, 08/01/51 (Call 02/01/51)		108		126,420
3.75%, 02/15/50 (Call 08/15/49)		48		57,880
3.95%, 05/15/43 (Call 11/15/42)		245		291,392
3.95%, 07/15/47 (Call 01/15/47)		600		734,352
4.05%, 05/15/48 (Call 11/15/47)		430		536,006
4.35%, 04/15/49 (Call 10/15/48)		702		918,298
Dayton Power & Light Co. (The), 3.95%, 06/15/49 (Call 12/15/48)		384		405,572
Delmarva Power & Light Co., 4.15%, 05/15/45 (Call 11/15/44)		250		304,247
Dominion Energy Inc.
4.70%, 12/01/44 (Call 06/01/44)		371		472,476
7.00%, 06/15/38		403		599,352
Series A, 4.60%, 03/15/49 (Call 09/15/48)		185		241,520
Series B, 5.95%, 06/15/35		702		934,856
Series C, 4.05%, 09/15/42 (Call 03/15/42)		375		438,630
Series C, 4.90%, 08/01/41 (Call 02/01/41)		422		536,455
Series E, 6.30%, 03/15/33		391		539,503
Series F, 5.25%, 08/01/33^(b)		530		670,071
Dominion Energy South Carolina Inc.
4.60%, 06/15/43 (Call 12/15/42)		301		389,989
5.10%, 06/01/65 (Call 12/01/64)^(b)		110		163,964
5.30%, 05/15/33		155		206,208
5.45%, 02/01/41 (Call 08/01/40)		391		542,045
6.05%, 01/15/38^(b)		418		603,669
6.63%, 02/01/32		325		465,210
DTE Electric Co.
2.95%, 03/01/50 (Call 09/01/49)		715		748,093
3.70%, 03/15/45 (Call 09/15/44)		499		575,598
3.70%, 06/01/46 (Call 12/01/45)		235		274,627
3.75%, 08/15/47 (Call 02/15/47)		460		544,286
3.95%, 06/15/42 (Call 12/15/41)		100		115,298
3.95%, 03/01/49 (Call 09/01/48)		130		160,381
4.30%, 07/01/44 (Call 01/01/44)		476		586,736
5.70%, 10/01/37		528		716,619
Series A, 4.00%, 04/01/43 (Call 10/01/42)		408		485,661
Series A, 4.05%, 05/15/48 (Call 11/15/47)		450		559,958
DTE Energy Co., 6.38%, 04/15/33		396		564,612
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)		765		837,202
3.70%, 12/01/47 (Call 06/01/47)		615		716,198
3.75%, 06/01/45 (Call 12/01/44)		568		666,273
3.88%, 03/15/46 (Call 09/15/45)		490		581,851
3.95%, 03/15/48 (Call 09/15/47)^(b)		450		547,759
4.00%, 09/30/42 (Call 03/30/42)^(b)		541		650,427
4.25%, 12/15/41 (Call 06/15/41)		385		473,253
5.30%, 02/15/40^(b)		530		736,848
6.00%, 01/15/38		302		442,466
6.05%, 04/15/38		435		641,407
6.10%, 06/01/37		348		509,619
6.45%, 10/15/32		391		553,237


Security	Par (000)		Value

Electric (continued)
Duke Energy Corp.
3.75%, 09/01/46 (Call 03/01/46)	$	918	$	1,035,121
3.95%, 08/15/47 (Call 02/15/47)		250		291,650
4.20%, 06/15/49 (Call 12/15/48)		354		430,288
4.80%, 12/15/45 (Call 06/15/45)		466		595,162
Duke Energy Florida LLC
3.40%, 10/01/46 (Call 04/01/46)		495		556,046
3.85%, 11/15/42 (Call 05/15/42)		380		440,135
4.20%, 07/15/48 (Call 01/15/48)		500		624,646
5.65%, 04/01/40		150		215,111
6.35%, 09/15/37		446		669,216
6.40%, 06/15/38		815		1,242,831
Duke Energy Indiana LLC
2.75%, 04/01/50 (Call 10/01/49)		225		225,013
3.75%, 05/15/46 (Call 11/15/45)		595		685,561
6.12%, 10/15/35		250		348,914
6.35%, 08/15/38		236		352,510
6.45%, 04/01/39		315		474,604
Series UUU, 4.20%, 03/15/42 (Call 09/15/41)		125		147,167
Series WWW, 4.90%, 07/15/43 (Call 01/15/43)		390		510,360
Series YYY, 3.25%, 10/01/49 (Call 04/01/49)^(b)		531		576,328
Duke Energy Ohio Inc.
3.70%, 06/15/46 (Call 12/15/45)		230		262,232
4.30%, 02/01/49 (Call 08/01/48)		335		417,444
Duke Energy Progress LLC
2.50%, 08/15/50 (Call 02/15/50)		460		441,925
3.60%, 09/15/47 (Call 03/15/47)		470		539,137
3.70%, 10/15/46 (Call 04/15/46)		270		313,974
4.10%, 05/15/42 (Call 11/15/41)^(b)		592		721,542
4.10%, 03/15/43 (Call 09/15/42)		371		444,267
4.15%, 12/01/44 (Call 06/01/44)		444		545,716
4.20%, 08/15/45 (Call 02/15/45)		687		843,006
4.38%, 03/30/44 (Call 09/30/43)		280		351,423
6.30%, 04/01/38		175		262,193
E.ON International Finance BV, 6.65%, 04/30/38^(a)		539		767,720
El Paso Electric Co.
5.00%, 12/01/44 (Call 06/01/44)		200		229,422
6.00%, 05/15/35		200		265,248
Electricite de France SA
4.75%, 10/13/35 (Call 04/13/35)^(a)		890		1,089,561
4.88%, 09/21/38 (Call 03/21/38)^(a)(b)		730		880,366
4.88%, 01/22/44^(a)		347		423,660
4.95%, 10/13/45 (Call 04/13/45)^(a)		910		1,162,809
5.00%, 09/21/48 (Call 03/21/48)^(a)(b)		1,634		2,079,228
5.25%, 10/13/55 (Call 04/13/55)^(a)(b)		179		229,675
5.60%, 01/27/40^(a)(b)		989		1,288,944
6.00%, 01/22/2114^(a)		554		759,551
6.95%, 01/26/39^(a)(b)		503		742,110
Emera U.S. Finance LP, 4.75%, 06/15/46 (Call 12/15/45)		982		1,187,409
Emirates Semb Corp. Water & Power Co. PJSC, 4.45%, 08/01/35^(a)		250		289,375
Empresa de Transmision Electrica SA, 5.13%, 05/02/49^(a)		665		774,333
Enel Finance International NV
4.75%, 05/25/47^(a)(b)		1,955		2,405,320
6.00%, 10/07/39^(a)(b)		1,225		1,647,082
Entergy Arkansas LLC
2.65%, 06/15/51 (Call 12/15/50)		635		629,388
4.20%, 04/01/49 (Call 10/01/48)		345		429,480
4.95%, 12/15/44 (Call 12/15/24)		20		21,720
Entergy Corp., 3.75%, 06/15/50 (Call 12/15/49)^(b)		365		413,738


Security	Par (000)		Value

Electric (continued)
Entergy Louisiana LLC
2.90%, 03/15/51 (Call 09/15/50)	$	475	$	492,674
4.00%, 03/15/33 (Call 12/15/32)^(b)		672		831,009
4.20%, 09/01/48 (Call 03/01/48)		776		971,969
4.20%, 04/01/50 (Call 10/01/49)		645		808,675
4.95%, 01/15/45 (Call 01/15/25)		100		108,592
Entergy Mississippi LLC, 3.85%, 06/01/49 (Call 12/01/48)		635		748,818
Entergy Texas Inc.
3.55%, 09/30/49 (Call 03/30/49)		375		415,037
4.50%, 03/30/39 (Call 09/30/38)		70		85,584
Evergy Kansas Central Inc.
3.25%, 09/01/49 (Call 03/01/49)		225		243,384
3.45%, 04/15/50 (Call 10/15/49)		405		456,659
4.10%, 04/01/43 (Call 10/01/42)		278		324,837
4.13%, 03/01/42 (Call 09/01/41)		590		701,417
4.25%, 12/01/45 (Call 06/01/45)		332		405,461
4.63%, 09/01/43 (Call 03/01/43)		245		302,956
Evergy Metro Inc.
4.20%, 06/15/47 (Call 12/15/46)		355		432,291
4.20%, 03/15/48 (Call 09/15/47)		260		318,764
5.30%, 10/01/41 (Call 04/01/41)		314		417,535
Series 2019, 4.13%, 04/01/49 (Call 10/01/48)		380		466,777
Eversource Energy, 3.45%, 01/15/50 (Call 07/15/49)		250		275,561
Exelon Corp.
4.45%, 04/15/46 (Call 10/15/45)		821		997,426
4.70%, 04/15/50 (Call 10/15/49)		800		1,020,643
4.95%, 06/15/35 (Call 12/15/34)		325		401,656
5.10%, 06/15/45 (Call 12/15/44)		531		689,745
5.63%, 06/15/35		634		836,073
7.60%, 04/01/32^(b)		180		258,136
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)		883		997,048
5.75%, 10/01/41 (Call 04/01/41)		410		464,902
6.25%, 10/01/39		938		1,129,598
FirstEnergy Corp.
Series C, 3.40%, 03/01/50 (Call 09/01/49)		25		22,977
Series C, 4.85%, 07/15/47 (Call 01/15/47)		625		679,456
Series C, 7.38%, 11/15/31		916		1,228,900
FirstEnergy Transmission LLC
4.55%, 04/01/49 (Call 10/01/48)^(a)(b)		382		418,562
5.45%, 07/15/44 (Call 01/15/44)^(a)		375		460,931
Florida Power & Light Co.
3.15%, 10/01/49 (Call 04/01/49)^(b)		1,135		1,267,206
3.70%, 12/01/47 (Call 06/01/47)		845		1,020,201
3.80%, 12/15/42 (Call 06/15/42)		354		425,085
3.95%, 03/01/48 (Call 09/01/47)		335		421,377
3.99%, 03/01/49 (Call 09/01/48)		475		602,013
4.05%, 06/01/42 (Call 12/01/41)		603		740,875
4.05%, 10/01/44 (Call 04/01/44)		528		657,479
4.13%, 02/01/42 (Call 08/01/41)^(b)		540		672,389
4.13%, 06/01/48 (Call 12/01/47)		502		642,501
4.95%, 06/01/35		685		944,056
5.13%, 06/01/41 (Call 12/01/40)^(b)		50		68,310
5.25%, 02/01/41 (Call 08/01/40)		220		306,050
5.63%, 04/01/34		125		178,856
5.65%, 02/01/37		146		203,731
5.69%, 03/01/40		221		321,927
5.95%, 02/01/38		795		1,171,880
5.96%, 04/01/39		100		147,291


Security	Par (000)		Value

Electric (continued)
Georgia Power Co.
4.30%, 03/15/42	$	1,025	$	1,221,758
4.30%, 03/15/43		346		410,668
5.40%, 06/01/40		75		97,625
Series 10-C, 4.75%, 09/01/40		466		577,822
Series B, 3.70%, 01/30/50 (Call 07/30/49)^(b)		133		148,387
Iberdrola International BV, 6.75%, 07/15/36		340		502,375
Idaho Power Co., Series K, 4.20%, 03/01/48 (Call 09/01/47)		200		248,790
Indiana Michigan Power Co.
4.25%, 08/15/48 (Call 02/15/48)		410		505,094
6.05%, 03/15/37		339		469,972
Series K, 4.55%, 03/15/46 (Call 09/15/45)		490		620,116
Series L, 3.75%, 07/01/47 (Call 01/01/47)		240		273,285
Indianapolis Power & Light Co.
4.05%, 05/01/46 (Call 11/01/45)^(a)		486		588,317
4.70%, 09/01/45 (Call 03/01/45)^(a)		195		240,258
Infraestructura Energetica Nova SAB de CV, 4.88%, 01/14/48^(a)		250		238,250
Interstate Power & Light Co.
3.50%, 09/30/49 (Call 03/30/49)		517		565,916
3.70%, 09/15/46 (Call 03/15/46)		460		510,586
4.70%, 10/15/43 (Call 04/15/43)^(b)		143		178,253
6.25%, 07/15/39		330		470,650
ITC Holdings Corp., 5.30%, 07/01/43 (Call 01/01/43)		278		361,172
Jersey Central Power & Light Co., 6.15%, 06/01/37		157		200,768
Kentucky Utilities Co.
3.30%, 06/01/50 (Call 12/01/49)		125		134,403
4.38%, 10/01/45 (Call 04/01/45)		570		689,113
5.13%, 11/01/40 (Call 05/01/40)		756		1,006,860
Series 1, 4.65%, 11/15/43 (Call 05/15/43)		50		62,265
LLPL Capital Pte Ltd., 6.88%, 02/04/39^(a)		188		215,097
Louisville Gas & Electric Co.
4.25%, 04/01/49 (Call 10/01/48)		435		536,892
4.38%, 10/01/45 (Call 04/01/45)		25		30,232
Massachusetts Electric Co.
4.00%, 08/15/46 (Call 02/15/46)^(a)(b)		305		360,512
5.90%, 11/15/39^(a)		50		71,797
MidAmerican Energy Co.
3.15%, 04/15/50 (Call 10/15/49)		750		825,355
3.65%, 08/01/48 (Call 02/01/48)		845		987,960
3.95%, 08/01/47 (Call 02/01/47)		395		480,754
4.25%, 05/01/46 (Call 11/01/45)		316		394,727
4.25%, 07/15/49 (Call 01/15/49)		836		1,071,544
4.40%, 10/15/44 (Call 04/15/44)		800		1,008,106
4.80%, 09/15/43 (Call 03/15/43)		450		592,374
5.75%, 11/01/35		106		153,070
5.80%, 10/15/36		453		642,676
6.75%, 12/30/31		222		331,324
Minejesa Capital BV, 5.63%, 08/10/37^(a)(b)		500		517,500
Mississippi Power Co., Series 12-A, 4.25%, 03/15/42		425		503,608
Monongahela Power Co., 5.40%, 12/15/43 (Call 06/15/43)^(a)		480		633,107
Narragansett Electric Co. (The), 4.17%, 12/10/42^(a)		50		58,511
National Grid USA, 5.80%, 04/01/35		680		881,819
National Rural Utilities Cooperative Finance Corp.
4.02%, 11/01/32 (Call 05/01/32)		345		419,753
4.30%, 03/15/49 (Call 09/15/48)		385		493,511
4.40%, 11/01/48 (Call 05/01/48)		200		257,535
Series C, 8.00%, 03/01/32		321		506,732


Security	Par (000)		Value

Electric (continued)
Nevada Power Co.
5.38%, 09/15/40 (Call 03/15/40)^(b)	$	305	$	404,238
5.45%, 05/15/41 (Call 11/15/40)^(b)		25		33,781
Series EE, 3.13%, 08/01/50 (Call 02/01/50)		146		154,148
Series N, 6.65%, 04/01/36		315		459,842
Series R, 6.75%, 07/01/37^(b)		245		367,981
New England Power Co., 3.80%, 12/05/47 (Call 06/05/47)^(a)(b)		250		285,993
New York State Electric & Gas Corp., 3.30%, 09/15/49 (Call 03/15/49)^(a)(b)		475		496,270
Niagara Mohawk Power Corp.
3.03%, 06/27/50 (Call 12/27/49)^(a)(b)		500		510,987
4.28%, 10/01/34 (Call 04/01/34)^(a)		750		920,274
Northern States Power Co./MN
2.60%, 06/01/51 (Call 12/01/50)		290		292,237
2.90%, 03/01/50 (Call 09/01/49)		805		848,226
3.40%, 08/15/42 (Call 02/15/42)^(b)		360		406,000
3.60%, 05/15/46 (Call 11/15/45)		75		88,709
3.60%, 09/15/47 (Call 03/15/47)		376		445,614
4.00%, 08/15/45 (Call 02/15/45)		145		179,147
4.13%, 05/15/44 (Call 11/15/43)		232		288,239
4.85%, 08/15/40 (Call 02/15/40)		85		110,647
5.35%, 11/01/39		385		544,442
6.20%, 07/01/37		260		395,513
6.25%, 06/01/36		421		619,387
NorthWestern Corp., 4.18%, 11/15/44 (Call 05/15/44)		346		410,275
NSTAR Electric Co.
4.40%, 03/01/44 (Call 09/01/43)		485		610,453
5.50%, 03/15/40		368		510,804
Oglethorpe Power Corp.
4.20%, 12/01/42		450		456,712
4.25%, 04/01/46 (Call 10/01/45)^(b)		105		106,359
4.55%, 06/01/44^(b)		355		376,077
5.05%, 10/01/48 (Call 04/01/48)		210		245,024
5.25%, 09/01/50		219		260,618
5.38%, 11/01/40		420		499,272
5.95%, 11/01/39		789		991,503
Ohio Edison Co.
6.88%, 07/15/36		350		478,588
8.25%, 10/15/38		65		100,654
Ohio Power Co.
4.00%, 06/01/49 (Call 12/01/48)		375		451,304
4.15%, 04/01/48 (Call 10/01/47)		315		388,841
Series D, 6.60%, 03/01/33		190		266,070
Oklahoma Gas & Electric Co.
3.85%, 08/15/47 (Call 02/15/47)		355		402,407
4.15%, 04/01/47 (Call 10/01/46)		405		475,928
5.85%, 06/01/40		45		62,246
Oncor Electric Delivery Co. LLC
3.10%, 09/15/49 (Call 03/15/49)		770		844,634
3.70%, 05/15/50 (Call 11/15/49)		100		119,047
3.75%, 04/01/45 (Call 10/01/44)^(b)		726		854,925
3.80%, 09/30/47 (Call 03/30/47)		375		449,025
3.80%, 06/01/49 (Call 12/01/48)		490		592,675
4.10%, 11/15/48 (Call 05/15/48)		145		181,705
4.55%, 12/01/41 (Call 06/01/41)		410		520,299
5.25%, 09/30/40		685		942,441
5.30%, 06/01/42 (Call 12/01/41)^(b)		240		334,773
7.00%, 05/01/32		203		309,964
7.25%, 01/15/33		285		440,591


Security	Par (000)		Value

Electric (continued)
7.50%, 09/01/38	$	105	$	171,613
Pacific Gas & Electric Co.
2.50%, 02/01/31 (Call 11/01/30)		2,000		1,890,921
3.30%, 08/01/40 (Call 02/01/40)^(b)		2,150		1,957,194
3.50%, 08/01/50 (Call 02/01/50)		1,610		1,455,098
3.75%, 08/15/42 (Call 02/15/42)		250		230,833
3.95%, 12/01/47 (Call 06/01/47)		725		677,979
4.30%, 03/15/45 (Call 09/15/44)		1,035		995,494
4.50%, 07/01/40		2,115		2,157,921
4.60%, 06/15/43 (Call 12/15/42)		196		197,012
4.75%, 02/15/44 (Call 08/15/43)		125		127,222
4.95%, 07/01/50 (Call 01/01/50)		2,130		2,244,215
PacifiCorp
3.30%, 03/15/51 (Call 09/15/50)		100		109,271
4.10%, 02/01/42 (Call 08/01/41)		505		604,204
4.13%, 01/15/49 (Call 07/15/48)		610		750,351
4.15%, 02/15/50 (Call 08/15/49)^(b)		575		706,168
5.25%, 06/15/35		180		246,703
5.75%, 04/01/37		340		471,292
6.00%, 01/15/39		752		1,076,451
6.10%, 08/01/36		545		778,809
6.25%, 10/15/37		201		288,980
6.35%, 07/15/38		180		263,913
PECO Energy Co.
2.80%, 06/15/50 (Call 12/15/49)		125		128,405
3.00%, 09/15/49 (Call 03/15/49)		220		232,862
3.90%, 03/01/48 (Call 09/01/47)		746		916,613
4.15%, 10/01/44 (Call 04/01/44)		420		515,759
4.80%, 10/15/43 (Call 04/15/43)		360		466,398
5.95%, 10/01/36^(b)		111		162,393
Pennsylvania Electric Co., 6.15%, 10/01/38		75		92,391
Perusahaan Listrik Negara PT
4.88%, 07/17/49^(a)		2,055		2,275,913
6.15%, 05/21/48^(a)		1,450		1,845,125
6.25%, 01/25/49^(a)		390		505,050
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, 4.00%, 06/30/50 (Call 12/30/49)^(a)		15		14,845
Potomac Electric Power Co.
4.15%, 03/15/43 (Call 09/15/42)		458		546,705
6.50%, 11/15/37		395		589,909
7.90%, 12/15/38^(b)		75		118,571
PPL Capital Funding Inc.
4.00%, 09/15/47 (Call 03/15/47)		235		266,876
4.70%, 06/01/43 (Call 12/01/42)		365		438,093
5.00%, 03/15/44 (Call 09/15/43)		755		947,926
PPL Electric Utilities Corp.
3.00%, 10/01/49 (Call 04/01/49)		330		351,125
3.95%, 06/01/47 (Call 12/01/46)		436		523,608
4.13%, 06/15/44 (Call 12/15/43)		250		297,554
4.15%, 10/01/45 (Call 04/01/45)		295		362,645
4.15%, 06/15/48 (Call 12/15/47)		580		713,525
4.75%, 07/15/43 (Call 01/15/43)		195		254,176
6.25%, 05/15/39		315		461,309
Progress Energy Inc.
6.00%, 12/01/39		365		503,427
7.00%, 10/30/31		310		437,930
7.75%, 03/01/31		469		684,537
PSEG Power LLC, 8.63%, 04/15/31		270		392,766
Public Service Co. of Colorado
3.55%, 06/15/46 (Call 12/15/45)		350		391,409


Security	Par (000)		Value

Electric (continued)
3.60%, 09/15/42 (Call 03/15/42)	$	265	$	305,239
3.80%, 06/15/47 (Call 12/15/46)		187		223,124
3.95%, 03/15/43 (Call 09/15/42)		125		146,692
4.05%, 09/15/49 (Call 03/15/49)		255		319,340
4.10%, 06/15/48 (Call 12/15/47)		350		438,278
4.30%, 03/15/44 (Call 09/15/43)		205		257,003
6.50%, 08/01/38		235		364,789
Series 17, 6.25%, 09/01/37		415		621,519
Series 34, 3.20%, 03/01/50 (Call 09/01/49)		755		838,401
Series 36, 2.70%, 01/15/51 (Call 07/15/50)		580		586,416
Public Service Co. of New Hampshire, 3.60%, 07/01/49 (Call 01/01/49)		640		740,651
Public Service Co. of Oklahoma, Series G, 6.63%, 11/15/37		50		70,796
Public Service Electric & Gas Co.
3.15%, 01/01/50 (Call 07/01/49)		535		588,427
3.20%, 08/01/49 (Call 02/01/49)		610		673,631
3.60%, 12/01/47 (Call 06/01/47)		683		790,576
3.65%, 09/01/42 (Call 03/01/42)		235		272,137
3.80%, 01/01/43 (Call 07/01/42)		100		117,331
3.80%, 03/01/46 (Call 09/01/45)		589		703,604
3.85%, 05/01/49 (Call 11/01/48)		615		752,533
3.95%, 05/01/42 (Call 11/01/41)^(b)		643		775,425
4.05%, 05/01/48 (Call 11/01/47)^(b)		300		373,890
4.15%, 11/01/45 (Call 05/01/45)^(b)		75		91,120
5.50%, 03/01/40		100		142,667
5.80%, 05/01/37		260		371,126
Series K, 4.05%, 05/01/45 (Call 11/01/44)		60		71,210
Public Service Electric and Gas Co.
2.05%, 08/01/50 (Call 02/01/50)		330		295,381
2.70%, 05/01/50 (Call 11/01/49)		166		167,578
Puget Sound Energy Inc.
3.25%, 09/15/49 (Call 03/15/49)		960		1,042,906
4.22%, 06/15/48 (Call 12/15/47)		126		156,295
4.30%, 05/20/45 (Call 11/20/44)		624		767,000
4.43%, 11/15/41 (Call 05/15/41)^(b)		170		198,957
5.64%, 04/15/41 (Call 10/15/40)^(b)		260		358,349
5.76%, 10/01/39^(b)		225		316,467
5.80%, 03/15/40		256		356,886
6.27%, 03/15/37		365		518,212
Ruwais Power Co. PJSC, 6.00%, 08/31/36^(a)		450		593,100
San Diego Gas & Electric Co.
3.95%, 11/15/41^(b)		190		210,466
4.15%, 05/15/48 (Call 11/15/47)		565		679,128
4.30%, 04/01/42 (Call 10/01/41)		300		348,015
4.50%, 08/15/40		645		786,100
5.35%, 05/15/40^(b)		25		32,054
6.00%, 06/01/39		208		295,482
Series RRR, 3.75%, 06/01/47 (Call 12/01/46)^(b)		751		857,052
Series TTT, 4.10%, 06/15/49 (Call 12/15/48)		30		35,724
Series UUU, 3.32%, 04/15/50 (Call 10/15/49)		180		192,256
Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/44^(a)		1,659		2,075,909
Sempra Energy
3.80%, 02/01/38 (Call 08/01/37)		591		659,107
4.00%, 02/01/48 (Call 08/01/47)		571		644,691
6.00%, 10/15/39		360		493,079
Southern California Edison Co.
3.65%, 02/01/50 (Call 08/01/49)^(b)		775		809,170
4.00%, 04/01/47 (Call 10/01/46)		919		991,263
4.05%, 03/15/42 (Call 09/15/41)		695		737,489


Security	Par (000)		Value

Electric (continued)
4.50%, 09/01/40 (Call 03/01/40)	$	443	$	500,333
4.65%, 10/01/43 (Call 04/01/43)		849		975,350
5.50%, 03/15/40		445		554,448
5.63%, 02/01/36		275		334,350
6.00%, 01/15/34		738		988,388
6.05%, 03/15/39		300		390,742
Series 04-G, 5.75%, 04/01/35		235		309,937
Series 05-B, 5.55%, 01/15/36		285		345,787
Series 05-E, 5.35%, 07/15/35		415		527,136
Series 06-E, 5.55%, 01/15/37		250		303,805
Series 08-A, 5.95%, 02/01/38		650		834,843
Series 13-A, 3.90%, 03/15/43 (Call 09/15/42)		719		750,550
Series B, 4.88%, 03/01/49 (Call 09/01/48)		274		325,449
Series C, 3.60%, 02/01/45 (Call 08/01/44)		567		568,768
Series C, 4.13%, 03/01/48 (Call 09/01/47)		973		1,074,403
Southern Co. (The)
4.00%, 01/15/51 (Call 10/15/25)^(c)		100		101,626
4.25%, 07/01/36 (Call 01/01/36)		249		290,343
4.40%, 07/01/46 (Call 01/01/46)		1,375		1,644,978
Southern Power Co.
5.15%, 09/15/41^(b)		395		461,375
5.25%, 07/15/43^(b)		225		262,038
Series F, 4.95%, 12/15/46 (Call 06/15/46)^(b)		380		426,104
Southwestern Electric Power Co.
6.20%, 03/15/40		234		332,438
Series J, 3.90%, 04/01/45 (Call 10/01/44)		420		461,490
Series L, 3.85%, 02/01/48 (Call 08/01/47)		700		768,051
Southwestern Public Service Co.
3.40%, 08/15/46 (Call 02/15/46)		30		32,434
3.70%, 08/15/47 (Call 02/15/47)		420		479,806
3.75%, 06/15/49 (Call 12/15/48)		115		132,245
4.50%, 08/15/41 (Call 02/15/41)		1,323		1,650,463
6.00%, 10/01/36^(b)		395		528,272
Series 6, 4.40%, 11/15/48 (Call 05/15/48)		515		642,281
Series 8, 3.15%, 05/01/50 (Call 11/01/49)		25		26,635
State Grid Overseas Investment 2014 Ltd., 4.85%, 05/07/44^(a)		700		947,470
State Grid Overseas Investment 2016 Ltd., 4.00%, 05/04/47^(a)		415		500,248
Tampa Electric Co.
3.63%, 06/15/50 (Call 12/15/49)^(b)		375		431,513
4.10%, 06/15/42 (Call 12/15/41)		520		629,952
4.20%, 05/15/45 (Call 11/15/44)		350		415,390
4.35%, 05/15/44 (Call 11/15/43)		540		668,350
4.45%, 06/15/49 (Call 12/15/48)		170		220,210
6.55%, 05/15/36		30		42,260
Toledo Edison Co. (The), 6.15%, 05/15/37		450		626,094
Tri-State Generation & Transmission Association Inc. 4.25%, 06/01/46 (Call 12/01/45)		205		231,510
6.00%, 06/15/40^(a)		400		538,354
Tucson Electric Power Co.
4.00%, 06/15/50 (Call 12/15/49)		25		29,280
4.85%, 12/01/48 (Call 06/01/48)		325		423,442
Union Electric Co.
3.25%, 10/01/49 (Call 04/01/49)		650		707,822
3.90%, 09/15/42 (Call 03/15/42)		410		482,877
4.00%, 04/01/48 (Call 10/01/47)		520		626,610
8.45%, 03/15/39		290		484,145
Virginia Electric & Power Co.
3.30%, 12/01/49 (Call 06/01/49)		200		229,041


Security	Par (000)		Value

Electric (continued)
4.00%, 01/15/43 (Call 07/15/42)^(b)	$	446	$	537,977
4.45%, 02/15/44 (Call 08/15/43)		420		542,501
4.60%, 12/01/48 (Call 06/01/48)		650		875,789
6.35%, 11/30/37		25		36,936
8.88%, 11/15/38		615		1,096,261
Series A, 6.00%, 05/15/37		168		240,318
Series B, 3.80%, 09/15/47 (Call 03/15/47)		830		986,944
Series B, 4.20%, 05/15/45 (Call 11/15/44)		547		687,084
Series B, 6.00%, 01/15/36		275		388,687
Series C, 4.00%, 11/15/46 (Call 05/15/46)		526		642,206
Series D, 4.65%, 08/15/43 (Call 02/15/43)		441		575,523
Wisconsin Electric Power Co.
4.30%, 12/15/45 (Call 06/15/45)		310		370,544
4.30%, 10/15/48 (Call 04/15/48)^(b)		429		540,022
5.63%, 05/15/33		57		78,204
5.70%, 12/01/36		325		453,425
Wisconsin Power & Light Co.
3.65%, 04/01/50 (Call 10/01/49)		140		160,082
4.10%, 10/15/44 (Call 04/15/44)		68		79,646
6.38%, 08/15/37		380		541,326
Wisconsin Public Service Corp.
3.30%, 09/01/49 (Call 03/01/49)		695		752,306
3.67%, 12/01/42		460		511,385
4.75%, 11/01/44 (Call 05/01/44)		310		400,949
Xcel Energy Inc.
3.50%, 12/01/49 (Call 06/01/49)		250		276,703
4.80%, 09/15/41 (Call 03/15/41)		79		97,796
6.50%, 07/01/36		225		327,583


				281,850,498

Electrical Components & Equipment — 0.1%
Emerson Electric Co.
2.75%, 10/15/50 (Call 04/15/50)		540		545,983
5.25%, 11/15/39		35		46,161
6.00%, 08/15/32		610		837,332


				1,429,476

Electronics — 0.1%
Fortive Corp., 4.30%, 06/15/46 (Call 12/15/45)		499		589,338
Honeywell International Inc.
2.80%, 06/01/50 (Call 12/01/49)		975		1,033,609
3.81%, 11/21/47 (Call 05/21/47)		749		923,818
5.38%, 03/01/41		65		93,177
5.70%, 03/15/36		75		105,490
5.70%, 03/15/37^(b)		65		91,372
Tyco Electronics Group SA, 7.13%, 10/01/37^(b)		200		299,603


				3,136,407

Engineering & Construction — 0.1%
Aeropuerto Internacional de Tocumen SA
5.63%, 05/18/36 (Call 05/18/35)^(a)		30		33,301
6.00%, 11/18/48 (Call 11/18/47)^(a)		846		942,638
Mexico City Airport Trust
5.50%, 10/31/46 (Call 04/30/46)^(a)		625		537,656
5.50%, 07/31/47 (Call 01/31/47)^(a)		1,564		1,348,637


				2,862,232

Environmental Control — 0.2%
Republic Services Inc.
3.05%, 03/01/50 (Call 09/01/49)		1,315		1,362,975
5.70%, 05/15/41 (Call 11/15/40)^(b)		140		196,021
6.20%, 03/01/40		20		29,425
Waste Connections Inc., 3.05%, 04/01/50 (Call 10/01/49)		25		25,817


Security	Par (000)		Value

Environmental Control (continued)
Waste Management Inc.
3.90%, 03/01/35 (Call 09/01/34)	$	588	$	715,601
4.10%, 03/01/45 (Call 09/01/44)		926		1,137,443
4.15%, 07/15/49 (Call 01/15/49)^(b)		763		966,150


				4,433,432

Food — 1.7%
Campbell Soup Co.
3.13%, 04/24/50 (Call 10/24/49)		576		576,469
4.80%, 03/15/48 (Call 09/15/47)		875		1,106,113
Conagra Brands Inc.
5.30%, 11/01/38 (Call 05/01/38)		1,176		1,519,431
5.40%, 11/01/48 (Call 05/01/48)		495		677,178
General Mills Inc.
4.15%, 02/15/43 (Call 08/15/42)		295		360,106
4.55%, 04/17/38 (Call 10/17/37)		838		1,050,019
4.70%, 04/17/48 (Call 10/17/47)		714		955,730
5.40%, 06/15/40		609		823,157
Grupo Bimbo SAB de CV
4.00%, 09/06/49^(a)(b)		1,000		1,064,455
4.70%, 11/10/47 (Call 05/10/47)^(a)		200		232,526
Hershey Co. (The)
2.65%, 06/01/50 (Call 12/01/49)		470		476,713
3.13%, 11/15/49 (Call 05/15/49)		690		757,587
3.38%, 08/15/46 (Call 02/15/46)^(b)		200		227,269
Ingredion Inc.
3.90%, 06/01/50 (Call 12/01/49)		590		662,668
6.63%, 04/15/37^(b)		275		378,731
JM Smucker Co. (The)
3.55%, 03/15/50 (Call 09/15/49)		475		504,169
4.25%, 03/15/35		1,327		1,578,911
4.38%, 03/15/45		25		29,701
Kellogg Co.
4.50%, 04/01/46		615		766,503
Series B, 7.45%, 04/01/31		826		1,212,449
Koninklijke Ahold Delhaize NV, 5.70%, 10/01/40		480		684,699
Kroger Co. (The)
3.88%, 10/15/46 (Call 04/15/46)		665		749,587
3.95%, 01/15/50 (Call 07/15/49)		541		630,517
4.45%, 02/01/47 (Call 08/01/46)		782		950,737
4.65%, 01/15/48 (Call 07/15/47)		545		681,068
5.00%, 04/15/42 (Call 10/15/41)		375		473,934
5.15%, 08/01/43 (Call 02/01/43)		195		258,531
5.40%, 07/15/40 (Call 01/15/40)		295		377,481
5.40%, 01/15/49 (Call 07/15/48)		430		596,758
6.90%, 04/15/38		330		478,728
7.50%, 04/01/31		315		448,184
Mars Inc.
1.63%, 07/16/32 (Call 04/16/32)^(a)		275		269,149
2.38%, 07/16/40 (Call 01/16/40)^(a)		303		298,243
2.45%, 07/16/50 (Call 01/16/50)^(a)		160		152,139
3.60%, 04/01/34 (Call 01/01/34)^(a)		455		539,061
3.88%, 04/01/39 (Call 10/01/38)^(a)		925		1,080,990
3.95%, 04/01/44 (Call 10/01/43)^(a)		188		221,132
3.95%, 04/01/49 (Call 10/01/48)^(a)(b)		725		874,595
4.13%, 04/01/54 (Call 10/01/53)^(a)		475		594,072
4.20%, 04/01/59 (Call 10/01/58)^(a)		625		799,416
McCormick & Co. Inc., 4.20%, 08/15/47 (Call 02/15/47)		315		390,506
Mondelez International Inc., 2.63%, 09/04/50 (Call 03/04/50)		1,052		998,855


Security	Par (000)		Value

Food (continued)
Nestle Holdings Inc.
3.90%, 09/24/38 (Call 03/24/38)^(a)(b)	$	1,138	$	1,416,726
4.00%, 09/24/48 (Call 03/24/48)^(a)(b)		1,644		2,114,936
Sysco Corp.
3.30%, 02/15/50 (Call 08/15/49)		277		262,201
4.45%, 03/15/48 (Call 09/15/47)		137		150,397
4.50%, 04/01/46 (Call 10/01/45)		546		604,142
4.85%, 10/01/45 (Call 04/01/45)		755		883,406
5.38%, 09/21/35		325		401,469
6.60%, 04/01/40 (Call 10/01/39)		340		465,843
6.60%, 04/01/50 (Call 10/01/49)		1,195		1,674,121
Tesco PLC, 6.15%, 11/15/37^(a)(b)		530		674,164
Tyson Foods Inc.
4.55%, 06/02/47 (Call 12/02/46)		840		1,048,450
4.88%, 08/15/34 (Call 02/15/34)		795		1,025,712
5.10%, 09/28/48 (Call 03/28/48)		1,034		1,399,514
5.15%, 08/15/44 (Call 02/15/44)		311		409,093


				40,038,441

Forest Products & Paper — 0.4%
Celulosa Arauco y Constitucion SA
5.50%, 11/02/47 (Call 05/02/47)		455		510,169
5.50%, 04/30/49 (Call 10/30/48)^(a)(b)		500		563,125
Domtar Corp.
6.25%, 09/01/42		175		194,101
6.75%, 02/15/44 (Call 08/15/43)		220		252,122
Georgia-Pacific LLC, 8.88%, 05/15/31		578		926,447
International Paper Co.
4.35%, 08/15/48 (Call 02/15/48)^(b)		856		1,057,747
4.40%, 08/15/47 (Call 02/15/47)		971		1,192,473
4.80%, 06/15/44 (Call 12/15/43)		701		871,068
5.00%, 09/15/35 (Call 03/15/35)		495		638,130
5.15%, 05/15/46 (Call 11/15/45)		780		1,020,795
6.00%, 11/15/41 (Call 05/15/41)		573		787,496
7.30%, 11/15/39		165		244,672
8.70%, 06/15/38		395		604,798
Stora Enso OYJ, 7.25%, 04/15/36^(a)		270		348,226
Suzano Austria GmbH, 7.00%, 03/16/47 (Call 09/16/46)^(a)		935		1,133,463


				10,344,832

Gas — 1.1%
Atmos Energy Corp.
3.38%, 09/15/49 (Call 03/15/49)		326		365,958
4.13%, 10/15/44 (Call 04/15/44)		777		952,034
4.13%, 03/15/49 (Call 09/15/48)		409		511,032
4.15%, 01/15/43 (Call 07/15/42)		402		488,532
4.30%, 10/01/48 (Call 04/01/48)^(b)		400		512,554
5.50%, 06/15/41 (Call 12/15/40)		305		422,561
Boston Gas Co., 4.49%, 02/15/42^(a)		35		42,967
Brooklyn Union Gas Co. (The)
4.27%, 03/15/48 (Call 09/15/47)^(a)(b)		385		472,146
4.49%, 03/04/49 (Call 09/04/48)^(a)		1,552		1,939,328
4.50%, 03/10/46 (Call 09/10/45)^(a)(b)		175		220,072
CenterPoint Energy Resources Corp.
4.10%, 09/01/47 (Call 03/01/47)		265		309,681
5.85%, 01/15/41 (Call 07/15/40)		235		322,960
6.63%, 11/01/37^(b)		465		657,272
Centrica PLC, 5.38%, 10/16/43 (Call 04/16/43)^(a)(b)		250		298,312
Dominion Energy Gas Holdings LLC
4.60%, 12/15/44 (Call 06/15/44)		565		688,712
4.80%, 11/01/43 (Call 05/01/43)		360		439,080


Security	Par (000)		Value

Gas (continued)
Series C, 3.90%, 11/15/49 (Call 05/15/49)	$	661	$	742,817
East Ohio Gas Co. (The), 3.00%, 06/15/50 (Call 12/15/49)^(a)		125		126,685
KeySpan Gas East Corp., 5.82%, 04/01/41^(a)		250		345,182
Korea Gas Corp., 6.25%, 01/20/42^(a)		440		665,921
Mega Advance Investments Ltd., 6.38%, 05/12/41^(a)		200		276,473
Nakilat Inc., 6.07%, 12/31/33^(a)(b)		650		819,546
NiSource Inc.
1.70%, 02/15/31 (Call 11/15/30)		100		97,568
3.95%, 03/30/48 (Call 09/30/47)		445		517,996
4.38%, 05/15/47 (Call 11/15/46)		935		1,144,268
4.80%, 02/15/44 (Call 08/15/43)		456		568,134
5.25%, 02/15/43 (Call 08/15/42)^(b)		502		642,590
5.65%, 02/01/45 (Call 08/01/44)		561		784,676
5.80%, 02/01/42 (Call 08/01/41)		150		195,006
5.95%, 06/15/41 (Call 12/15/40)		360		488,965
ONE Gas Inc.
4.50%, 11/01/48 (Call 05/01/48)		355		447,452
4.66%, 02/01/44 (Call 08/01/43)		251		323,108
Piedmont Natural Gas Co. Inc.
3.35%, 06/01/50 (Call 12/01/49)		886		947,032
3.64%, 11/01/46 (Call 05/01/46)		170		190,188
4.10%, 09/18/34 (Call 03/18/34)^(b)		100		119,883
4.65%, 08/01/43 (Call 02/01/43)		153		192,903
Southern California Gas Co.
3.75%, 09/15/42 (Call 03/15/42)		180		205,139
4.45%, 03/15/44 (Call 09/15/43)		700		844,654
5.13%, 11/15/40		125		160,547
Series UU, 4.13%, 06/01/48 (Call 12/01/47)		201		248,355
Series VV, 4.30%, 01/15/49 (Call 07/15/48)		675		855,649
Series WW, 3.95%, 02/15/50 (Call 08/15/49)		791		951,892
Southern Co. Gas Capital Corp.
3.95%, 10/01/46 (Call 04/01/46)		326		362,604
4.40%, 06/01/43 (Call 12/01/42)		660		775,587
4.40%, 05/30/47 (Call 11/30/46)		210		252,558
5.88%, 03/15/41 (Call 09/15/40)		467		640,649
6.00%, 10/01/34		400		538,448
Southwest Gas Corp.
3.80%, 09/29/46 (Call 03/29/46)		175		196,312
4.15%, 06/01/49 (Call 12/01/48)^(b)		403		478,361
Spire Inc., 4.70%, 08/15/44 (Call 02/15/44)^(b)		150		174,549
Washington Gas Light Co.
3.65%, 09/15/49 (Call 03/15/49)		713		795,532
Series K, 3.80%, 09/15/46 (Call 03/15/46)		210		237,043


				25,997,473

Hand & Machine Tools — 0.1%
Snap-on Inc.
3.10%, 05/01/50 (Call 11/01/49)		630		668,811
4.10%, 03/01/48 (Call 09/01/47)		370		449,059
Stanley Black & Decker Inc.
4.85%, 11/15/48 (Call 05/15/48)		381		526,372
5.20%, 09/01/40		285		389,442


				2,033,684

Health Care - Products — 1.2%
Abbott Laboratories
4.75%, 11/30/36 (Call 05/30/36)		2,462		3,281,263
4.75%, 04/15/43 (Call 10/15/42)^(b)		653		889,372
4.90%, 11/30/46 (Call 05/30/46)		2,680		3,772,837
5.30%, 05/27/40		110		158,827


Security	Par (000)		Value

Health Care - Products (continued)
6.00%, 04/01/39	$	225	$	345,585
Alcon Finance Corp., 3.80%, 09/23/49 (Call 03/23/49)^(a)		400		452,393
Baxter International Inc., 3.50%, 08/15/46 (Call 02/15/46)^(b)		505		562,632
Boston Scientific Corp.
4.55%, 03/01/39 (Call 09/01/38)		430		533,442
4.70%, 03/01/49 (Call 09/01/48)		765		989,952
7.00%, 11/15/35		335		491,437
7.38%, 01/15/40		535		836,560
Covidien International Finance SA, 6.55%, 10/15/37		295		441,209
Danaher Corp., 4.38%, 09/15/45 (Call 03/15/45)		480		618,128
DH Europe Finance II Sarl
3.25%, 11/15/39 (Call 05/15/39)		946		1,052,473
3.40%, 11/15/49 (Call 05/15/49)^(b)		955		1,089,175
Koninklijke Philips NV
5.00%, 03/15/42		980		1,270,800
6.88%, 03/11/38		295		449,836
Medtronic Inc.
4.38%, 03/15/35		2,005		2,676,992
4.63%, 03/15/45		2,286		3,104,186
Stryker Corp.
2.90%, 06/15/50 (Call 12/15/49)^(b)		125		125,813
4.10%, 04/01/43 (Call 10/01/42)		475		563,320
4.38%, 05/15/44 (Call 11/15/43)		431		523,988
4.63%, 03/15/46 (Call 09/15/45)		870		1,121,416
Thermo Fisher Scientific Inc.
4.10%, 08/15/47 (Call 02/15/47)		705		888,320
5.30%, 02/01/44 (Call 08/01/43)		512		719,819
Zimmer Biomet Holdings Inc.
4.25%, 08/15/35 (Call 02/15/35)		465		497,505
4.45%, 08/15/45 (Call 02/15/45)		401		456,380
5.75%, 11/30/39		250		322,215


				28,235,875

Health Care - Services — 3.3%
Adventist Health System/West, 3.63%, 03/01/49 (Call 09/01/48)		200		203,073
Advocate Health & Hospitals Corp.
3.39%, 10/15/49 (Call 04/15/49)		192		208,159
4.27%, 08/15/48 (Call 02/15/48)		743		929,140
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)		730		811,226
4.13%, 11/15/42 (Call 05/15/42)		442		500,637
4.50%, 05/15/42 (Call 11/15/41)		336		398,921
4.75%, 03/15/44 (Call 09/15/43)		480		583,920
6.63%, 06/15/36		725		1,039,314
6.75%, 12/15/37		660		973,491
Allina Health System, Series 2019, 3.89%, 04/15/49		271		306,764
Anthem Inc.
3.13%, 05/15/50 (Call 11/15/49)		933		960,909
3.70%, 09/15/49 (Call 03/15/49)		590		668,998
4.38%, 12/01/47 (Call 06/01/47)		1,035		1,280,593
4.55%, 03/01/48 (Call 09/01/47)		785		993,721
4.63%, 05/15/42		852		1,060,259
4.65%, 01/15/43		1,003		1,257,414
4.65%, 08/15/44 (Call 02/15/44)		745		935,072
4.85%, 08/15/54 (Call 02/15/54)		160		193,691
5.10%, 01/15/44		670		896,892
5.85%, 01/15/36		19		25,629
5.95%, 12/15/34^(b)		125		173,857
6.38%, 06/15/37		80		114,369


Security	Par (000)		Value

Health Care - Services (continued)
Ascension Health
3.95%, 11/15/46	$	1,336	$	1,610,154
4.85%, 11/15/53		278		391,880
Series B, 3.11%, 11/15/39 (Call 05/15/39)		215		224,450
Banner Health, Series 2020, 3.18%, 01/01/50 (Call 07/01/49)		321		333,255
Baptist Healthcare System Obligated Group, Series 20B, 3.54%, 08/15/50 (Call 02/15/50)		350		348,729
BayCare Health System Inc., Series 2020, 3.83%, 11/15/50 (Call 05/15/50)		433		516,550
Baylor Scott & White Holdings
3.97%, 11/15/46 (Call 05/15/46)		350		401,304
4.19%, 11/15/45 (Call 05/15/45)		201		243,506
Catholic Health Services of Long Island Obligated Group, Series 2020, 3.37%, 07/01/50 (Call 01/01/50)		300		288,143
Children’s Health System of Texas, 2.51%, 08/15/50 (Call 02/15/50)		560		514,927
Children’s Hospital Corp. (The)
Series 2017, 4.12%, 01/01/47 (Call 07/01/46)		290		346,042
Series 2020, 2.59%, 02/01/50 (Call 08/01/49)		175		163,094
Children’s Hospital Medical Center/Cincinnati OH, 4.27%, 05/15/44		375		462,022
Children’s Hospital of Philadelphia (The), Series 2020, 2.70%, 07/01/50 (Call 01/01/50)		500		490,077
Children’s Hospital/DC, Series 2020, 2.93%, 07/15/50 (Call 01/15/50)		75		69,590
City of Hope, Series 2013, 5.62%, 11/15/43		300		408,702
CommonSpirit Health
3.82%, 10/01/49 (Call 04/01/49)		805		842,977
4.19%, 10/01/49 (Call 04/01/49)		858		885,785
4.35%, 11/01/42		510		548,186
Community Health Network Inc., 3.10%, 05/01/50 (Call 11/01/49)		300		273,847
Cottage Health Obligated Group, Series 2020, 3.30%, 11/01/49 (Call 05/01/49)		200		211,299
Dartmouth-Hitchcock Health, Series B, 4.18%, 08/01/48 (Call 02/01/48)		246		278,668
Dignity Health
4.50%, 11/01/42		450		475,101
5.27%, 11/01/64		120		144,494
Duke University Health System Inc., Series 2017, 3.92%, 06/01/47 (Call 12/01/46)		688		817,750
Hackensack Meridian Health Inc.
4.21%, 07/01/48 (Call 01/01/48)		225		269,306
Series 2020, 2.68%, 09/01/41 (Call 03/01/41)		110		106,041
Series 2020, 2.88%, 09/01/50 (Call 03/01/50)		50		48,351
Hartford HealthCare Corp., 3.45%, 07/01/54		130		124,865
HCA Inc.
5.13%, 06/15/39 (Call 12/15/38)		293		356,656
5.25%, 06/15/49 (Call 12/15/48)		1,910		2,325,362
5.50%, 06/15/47 (Call 12/15/46)		1,392		1,733,532
Health Care Service Corp. A Mutual Legal Reserve Co., 3.20%, 06/01/50 (Call 12/01/49)^(a)		405		415,663
Humana Inc.
3.95%, 08/15/49 (Call 02/15/49)^(b)		545		642,933
4.63%, 12/01/42 (Call 06/01/42)		590		737,734
4.80%, 03/15/47 (Call 09/15/46)		455		592,436
4.95%, 10/01/44 (Call 04/01/44)^(b)		549		721,248
8.15%, 06/15/38^(b)		205		320,426


Security	Par (000)		Value

Health Care - Services (continued)
Indiana University Health Inc. Obligated Group, 3.97%, 11/01/48 (Call 05/01/48)	$	425	$	507,374
Integris Baptist Medical Center Inc., Series A, 3.88%, 08/15/50 (Call 02/15/50)		500		519,781
Iowa Health System, Series 2020, 3.67%, 02/15/50 (Call 08/15/49)		200		215,637
Johns Hopkins Health System Corp. (The), 3.84%, 05/15/46		511		597,495
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		2,009		2,461,920
4.88%, 04/01/42		268		349,832
Series 2019, 3.27%, 11/01/49 (Call 05/01/49)		100		107,917
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)^(b)		698		887,080
Mayo Clinic, Series 2016, 4.13%, 11/15/52^(b)		340		424,981
McLaren Health Care Corp., Series A, 4.39%, 05/15/48 (Call 11/15/47)		225		270,176
MedStar Health Inc., Series 20A, 3.63%, 08/15/49		25		26,515
Memorial Health Services, 3.45%, 11/01/49 (Call 05/01/49)		25		25,200
Memorial Sloan-Kettering Cancer Center
4.13%, 07/01/52		325		403,798
5.00%, 07/01/42		100		133,164
Series 2015, 4.20%, 07/01/55		465		592,076
Series 2020, 2.96%, 01/01/50 (Call 07/01/49)		41		42,012
Methodist Hospital (The), Series 20A, 2.71%, 12/01/50 (Call 06/01/50)		320		311,021
Montefiore Obligated Group
4.29%, 09/01/50		150		147,350
Series 18-C, 5.25%, 11/01/48^(b)		560		643,172
Mount Sinai Hospitals Group Inc.
3.39%, 07/01/50 (Call 07/01/49)		30		28,929
Series 2017, 3.98%, 07/01/48		205		215,866
Series 2019, 3.74%, 07/01/49 (Call 01/01/49)		204		209,333
New York and Presbyterian Hospital (The)
2.26%, 08/01/40 (Call 02/01/40)		60		56,267
2.61%, 08/01/60 (Call 02/01/60)		100		92,603
3.56%, 08/01/36		250		269,626
4.02%, 08/01/45		415		499,206
4.06%, 08/01/56		517		635,350
4.76%, 08/01/2116		55		63,520
Series 2019, 3.95%, 12/31/99 (Call 02/01/2119)^(b)		425		460,365
Northwell Healthcare Inc.
3.81%, 11/01/49 (Call 11/01/48)		410		424,520
3.98%, 11/01/46 (Call 11/01/45)		635		669,713
4.26%, 11/01/47 (Call 11/01/46)		729		806,799
NY Society for Relief of Ruptured & Crippled Maintaining Hosp Special Surgery, Series 2020, 2.67%, 10/01/50 (Call 04/01/50)		129		118,253
Ochsner Clinic Foundation, 5.90%, 05/15/45 (Call 11/15/44)		100		124,895
Partners Healthcare System Inc.
Series 2020, 3.19%, 07/01/49 (Call 01/01/49)		1,155		1,210,522
Series 2020, 3.34%, 07/01/60 (Call 01/01/60)^(b)		69		72,884
PeaceHealth Obligated Group, Series 2018, 4.79%, 11/15/48 (Call 05/15/48)		104		129,933
Providence St Joseph Health Obligated Group
Series A, 3.93%, 10/01/48 (Call 04/01/48)		115		131,916
Series I, 3.74%, 10/01/47		250		281,369


Security	Par (000)		Value

Health Care - Services (continued)
Quest Diagnostics Inc.
2.80%, 06/30/31 (Call 03/30/31)	$	250	$	267,752
4.70%, 03/30/45 (Call 09/30/44)		665		828,364
Roche Holdings Inc., 4.00%, 11/28/44 (Call 05/28/44)^(a)		261		338,616
RWJ Barnabas Health Inc., 3.95%, 07/01/46 (Call 07/01/45)		340		380,222
Southern Baptist Hospital of Florida Inc., 4.86%, 07/15/45 (Call 01/15/45)		25		28,720
Spectrum Health System Obligated Group, Series 19A, 3.49%, 07/15/49 (Call 01/15/49)		227		246,452
Stanford Health Care, Series 2018, 3.80%, 11/15/48 (Call 05/15/48)		411		483,865
Sutter Health, Series 2018, 4.09%, 08/15/48 (Call 02/15/48)		518		577,122
Texas Health Resources, 2.33%, 11/15/50 (Call 05/15/50)		125		111,119
Toledo Hospital (The)
4.98%, 11/15/45 (Call 05/15/45)		50		47,531
5.75%, 11/15/38 (Call 11/15/28)		215		248,899
6.02%, 11/15/48		576		620,406
Trinity Health Corp., Series 2019, 3.43%, 12/01/48		345		357,305
UnitedHealth Group Inc.
2.75%, 05/15/40 (Call 11/15/39)		655		685,727
2.90%, 05/15/50 (Call 11/15/49)		700		731,984
3.13%, 05/15/60 (Call 11/15/59)		335		359,856
3.50%, 08/15/39 (Call 02/15/39)		1,621		1,859,601
3.70%, 08/15/49 (Call 02/15/49)^(b)		1,095		1,309,974
3.75%, 10/15/47 (Call 04/15/47)		700		829,897
3.88%, 08/15/59 (Call 02/15/59)		1,150		1,398,742
3.95%, 10/15/42 (Call 04/15/42)		617		751,130
4.20%, 01/15/47 (Call 07/15/46)		893		1,129,079
4.25%, 03/15/43 (Call 09/15/42)		675		849,085
4.25%, 04/15/47 (Call 10/15/46)		771		985,762
4.25%, 06/15/48 (Call 12/15/47)		1,182		1,510,690
4.38%, 03/15/42 (Call 09/15/41)		375		474,819
4.45%, 12/15/48 (Call 06/15/48)		1,015		1,346,715
4.63%, 07/15/35		1,573		2,063,921
4.63%, 11/15/41 (Call 05/15/41)		480		631,898
4.75%, 07/15/45		825		1,118,978
5.70%, 10/15/40 (Call 04/15/40)		330		481,436
5.80%, 03/15/36		498		720,105
5.95%, 02/15/41 (Call 08/15/40)		400		596,280
6.50%, 06/15/37		511		790,136
6.63%, 11/15/37		486		762,328
6.88%, 02/15/38		1,005		1,617,416
Willis-Knighton Medical Center, Series 2018, 4.81%, 09/01/48 (Call 03/01/48)		135		163,010


				77,074,446

Holding Companies - Diversified — 0.1%
CK Hutchison International 19 II Ltd., 3.38%, 09/06/49 (Call 03/06/49)^(a)		1,000		1,079,329
Hutchison Whampoa International Ltd., 7.45%, 11/24/33^(a)(b)		275		428,950
PTT Treasury Center Co. Ltd., 3.70%, 07/16/70 (Call 01/16/70)^(a)(b)		700		678,600


				2,186,879

Home Furnishings — 0.1%
Whirlpool Corp.
4.50%, 06/01/46 (Call 12/01/45)		735		873,991
4.60%, 05/15/50 (Call 11/15/49)		225		278,603


Security	Par (000)		Value

Home Furnishings (continued)
5.15%, 03/01/43	$	100	$	122,835


				1,275,429

Household Products & Wares — 0.2%
Church & Dwight Co. Inc., 3.95%, 08/01/47 (Call 02/01/47)		305		364,001
Kimberly-Clark Corp.
2.88%, 02/07/50 (Call 08/07/49)		530		574,989
3.20%, 07/30/46 (Call 01/30/46)^(b)		800		903,278
3.70%, 06/01/43		300		346,795
3.90%, 05/04/47 (Call 11/04/46)^(b)		330		415,902
5.30%, 03/01/41		31		43,380
6.63%, 08/01/37		330		524,451
SC Johnson & Son Inc.
4.75%, 10/15/46 (Call 04/16/46)^(a)		1,055		1,374,264
4.80%, 09/01/40		200		256,549


				4,803,609

Insurance — 5.1%
Aflac Inc.
4.00%, 10/15/46 (Call 04/15/46)		421		479,923
4.75%, 01/15/49 (Call 07/15/48)		450		580,674
6.45%, 08/15/40^(b)		131		181,164
AIA Group Ltd.
3.20%, 09/16/40 (Call 03/16/40)^(a)		2,345		2,411,903
4.50%, 03/16/46 (Call 09/16/45)^(a)		200		252,495
AIG SunAmerica Global Financing X, 6.90%, 03/15/32^(a)		600		896,247
Alleghany Corp., 4.90%, 09/15/44 (Call 03/15/44)		140		173,926
Allstate Corp. (The)
3.85%, 08/10/49 (Call 02/10/49)		555		666,755
4.20%, 12/15/46 (Call 06/15/46)		867		1,096,003
4.50%, 06/15/43		345		447,286
5.35%, 06/01/33^(b)		538		738,957
5.55%, 05/09/35		431		629,176
5.95%, 04/01/36		150		208,982
6.50%, 05/15/67 (Call 05/15/37)^(c)		95		123,975
American Financial Group Inc., 4.50%, 06/15/47 (Call 12/15/46)		450		495,594
American International Group Inc.
3.88%, 01/15/35 (Call 07/15/34)		1,671		1,929,889
4.38%, 06/30/50 (Call 12/30/49)		195		234,367
4.38%, 01/15/55 (Call 07/15/54)		205		241,621
4.50%, 07/16/44 (Call 01/16/44)		1,612		1,934,325
4.70%, 07/10/35 (Call 01/10/35)		805		1,009,271
4.75%, 04/01/48 (Call 10/01/47)		899		1,128,159
4.80%, 07/10/45 (Call 01/10/45)		1,095		1,363,357
6.25%, 05/01/36		1,215		1,687,490
8.18%, 05/15/68 (Call 05/15/38)^(c)		200		283,823
Aon Corp., 6.25%, 09/30/40		75		109,980
Aon PLC
4.25%, 12/12/42		32		35,871
4.45%, 05/24/43 (Call 02/24/43)		530		611,979
4.60%, 06/14/44 (Call 03/14/44)		629		803,362
4.75%, 05/15/45 (Call 11/15/44)^(b)		619		813,929
Arch Capital Finance LLC, 5.03%, 12/15/46 (Call 06/15/46)		184		236,115
Arch Capital Group Ltd.
3.64%, 06/30/50 (Call 12/30/49)		528		566,956
7.35%, 05/01/34		335		503,389
Arch Capital Group U.S. Inc., 5.14%, 11/01/43		500		642,117
Assurant Inc., 6.75%, 02/15/34		198		239,756


Security	Par (000)		Value

Insurance (continued)
AXA SA, 8.60%, 12/15/30^(b)	$	1,315	$	2,027,506
AXIS Specialty Finance PLC, 5.15%, 04/01/45^(b)		365		424,219
Berkshire Hathaway Finance Corp.
2.85%, 10/15/50 (Call 04/15/50)		465		473,710
4.20%, 08/15/48 (Call 02/15/48)		1,840		2,306,872
4.25%, 01/15/49 (Call 07/15/48)		1,563		1,985,893
4.30%, 05/15/43		576		733,810
4.40%, 05/15/42		570		725,410
5.75%, 01/15/40		610		924,403
Berkshire Hathaway Inc., 4.50%, 02/11/43		720		946,355
Brighthouse Financial Inc., 4.70%, 06/22/47 (Call 12/22/46)		1,349		1,311,895
Chubb Corp. (The), 6.00%, 05/11/37		210		308,531
Chubb INA Holdings Inc.
4.15%, 03/13/43		250		312,895
4.35%, 11/03/45 (Call 05/03/45)		860		1,119,877
Empower Finance 2020 LP, 3.08%, 09/17/51 (Call 03/17/51)^(a)		430		444,718
Equitable Holdings Inc., 5.00%, 04/20/48 (Call 10/20/47)		1,415		1,690,297
Everest Reinsurance Holdings Inc., 4.87%, 06/01/44		350		419,560
Farmers Exchange Capital III, 5.45%, 10/15/54 (Call 10/15/34)^(a)(b)(c)		640		756,619
Farmers Insurance Exchange, 4.75%, 11/01/57 (Call 11/01/37)^(a)(c)		300		307,210
Great-West Lifeco Finance 2018 LP, 4.58%, 05/17/48 (Call 11/17/47)^(a)		785		1,003,114
Great-West Lifeco Finance Delaware LP, 4.15%, 06/03/47 (Call 12/03/46)^(a)(b)		50		60,203
Guardian Life Insurance Co. of America (The)
3.70%, 01/22/70 (Call 07/22/69)^(a)		50		51,938
4.85%, 01/24/77^(a)		545		688,769
4.88%, 06/19/64^(a)		300		388,445
Harborwalk Funding Trust, 5.08%, 02/15/69 (Call 02/15/49)^(a)(c)		590		723,951
Hartford Financial Services Group Inc. (The)
3.60%, 08/19/49 (Call 02/19/49)		335		373,888
4.30%, 04/15/43		179		211,182
4.40%, 03/15/48 (Call 09/15/47)		540		668,651
5.95%, 10/15/36		216		289,989
6.10%, 10/01/41		380		543,579
6.63%, 03/30/40		345		504,565
Liberty Mutual Group Inc.
3.95%, 10/15/50 (Call 04/15/50)^(a)		1,226		1,357,897
3.95%, 05/15/60 (Call 11/15/59)^(a)		1,647		1,789,000
6.50%, 05/01/42^(a)		100		137,476
Liberty Mutual Insurance Co., 7.70%, 10/15/97^(a)		85		130,105
Lincoln National Corp.
4.35%, 03/01/48 (Call 09/01/47)		424		485,273
6.30%, 10/09/37		116		148,712
7.00%, 06/15/40		750		1,075,580
Loews Corp.
4.13%, 05/15/43 (Call 11/15/42)^(b)		310		353,362
6.00%, 02/01/35^(b)		604		828,991
Manulife Financial Corp., 5.38%, 03/04/46		827		1,160,420
Markel Corp.
4.15%, 09/17/50 (Call 03/17/50)^(b)		60		71,197
4.30%, 11/01/47 (Call 05/01/47)		285		342,680
5.00%, 03/30/43		250		301,924
5.00%, 04/05/46		705		923,299
5.00%, 05/20/49 (Call 11/20/48)		450		599,551


Security	Par (000)		Value

Insurance (continued)
Marsh & McLennan Companies Inc.
4.20%, 03/01/48 (Call 09/01/47)	$	530	$	661,613
4.35%, 01/30/47 (Call 07/30/46)		697		894,786
4.75%, 03/15/39 (Call 09/15/38)		455		599,130
4.90%, 03/15/49 (Call 09/15/48)		1,134		1,571,765
5.88%, 08/01/33		414		581,507
Massachusetts Mutual Life Insurance Co.
3.38%, 04/15/50^(a)		60		61,184
3.73%, 10/15/70^(a)(b)		1,041		1,061,799
4.90%, 04/01/77^(a)(b)		340		427,120
MetLife Capital Trust IV, 7.88%, 12/15/67 (Call 12/15/32)^(a)		155		213,900
MetLife Inc.
4.05%, 03/01/45		586		708,874
4.13%, 08/13/42		491		588,390
4.60%, 05/13/46 (Call 11/13/45)		705		911,274
4.72%, 12/15/44		600		772,550
4.88%, 11/13/43		783		1,038,911
5.70%, 06/15/35		475		687,401
5.88%, 02/06/41		715		1,036,462
6.38%, 06/15/34^(b)		916		1,385,967
6.40%, 12/15/66 (Call 12/15/31)		1,283		1,592,169
6.50%, 12/15/32		825		1,225,819
9.25%, 04/08/68 (Call 04/08/33)^(a)		150		216,355
10.75%, 08/01/69 (Call 08/01/34)		206		336,331
Mutual of Omaha Insurance Co., 6.80%, 06/15/36^(a)		75		98,989
Nationwide Financial Services Inc.
3.90%, 11/30/49 (Call 05/30/49)^(a)(b)		828		850,691
5.30%, 11/18/44^(a)		450		506,677
6.75%, 05/15/87		16		18,832
Nationwide Mutual Insurance Co.
4.35%, 04/30/50 (Call 10/30/49)^(a)(b)		435		467,106
4.95%, 04/22/44^(a)		750		836,142
8.25%, 12/01/31^(a)		200		283,530
9.38%, 08/15/39^(a)		435		733,650
New York Life Insurance Co.
3.75%, 05/15/50 (Call 11/15/49)^(a)		135		150,572
4.45%, 05/15/69 (Call 11/15/68)^(a)		927		1,142,981
5.88%, 05/15/33^(a)(b)		1,110		1,519,796
6.75%, 11/15/39^(a)		954		1,433,920
Northwestern Mutual Life Insurance Co. (The)
3.63%, 09/30/59 (Call 03/30/59)^(a)		1,409		1,536,385
3.85%, 09/30/47 (Call 03/30/47)^(a)(b)		990		1,128,345
6.06%, 03/30/40^(a)		454		643,838
Ohio National Financial Services Inc., 6.63%, 05/01/31^(a)(b)		355		358,057
Ohio National Life Insurance Co. (The), 6.88%, 06/15/42^(a)		300		301,936
OneAmerica Financial Partners Inc., 4.25%, 10/15/50 (Call 04/15/50)^(a)(b)		100		104,615
Pacific Life Insurance Co., 4.30%, 10/24/67 (Call 10/24/47)^(a)(c)		1,070		1,134,200
Pacific LifeCorp.
3.35%, 09/15/50 (Call 03/15/50)^(a)		1,025		1,048,970
6.60%, 09/15/33^(a)		50		71,693
Principal Financial Group Inc.
4.30%, 11/15/46 (Call 05/15/46)		143		171,839
4.35%, 05/15/43^(b)		375		441,701
4.63%, 09/15/42		380		472,000
6.05%, 10/15/36		191		268,281


Security	Par (000)		Value

Insurance (continued)
Progressive Corp. (The)
3.70%, 01/26/45	$	210	$	245,417
3.95%, 03/26/50 (Call 09/26/49)^(b)		255		318,928
4.13%, 04/15/47 (Call 10/15/46)		588		754,203
4.20%, 03/15/48 (Call 09/15/47)		1,006		1,285,666
4.35%, 04/25/44		221		283,160
6.25%, 12/01/32		490		713,867
Prudential Financial Inc.
3.00%, 03/10/40 (Call 09/10/39)		100		103,860
3.70%, 10/01/50 (Call 07/01/30)^(b)(c)		398		406,955
3.70%, 03/13/51 (Call 09/13/50)		326		360,639
3.91%, 12/07/47 (Call 06/07/47)		1,081		1,219,320
3.94%, 12/07/49 (Call 06/07/49)		1,066		1,211,667
4.35%, 02/25/50 (Call 08/25/49)		779		934,950
4.42%, 03/27/48 (Call 09/27/47)		650		782,596
4.60%, 05/15/44		795		979,156
5.70%, 12/14/36		1,075		1,514,287
6.63%, 12/01/37^(b)		65		97,048
6.63%, 06/21/40		325		480,792
Series B, 5.75%, 07/15/33^(b)		100		133,814
Securian Financial Group Inc., 4.80%, 04/15/48^(a)(b)		315		371,836
Selective Insurance Group Inc., 5.38%, 03/01/49 (Call 09/01/48)		230		272,293
Sompo International Holdings Ltd., 7.00%, 07/15/34^(b)		400		566,862
Swiss Re Treasury U.S. Corp., 4.25%, 12/06/42^(a)		400		490,761
Teachers Insurance & Annuity Association of America
3.30%, 05/15/50 (Call 11/15/49)^(a)		805		822,471
4.27%, 05/15/47 (Call 11/15/46)^(a)		2,401		2,815,216
4.90%, 09/15/44^(a)(b)		1,372		1,760,541
6.85%, 12/16/39^(a)(b)		186		278,064
Transatlantic Holdings Inc., 8.00%, 11/30/39		514		792,646
Travelers Companies Inc. (The)
2.55%, 04/27/50 (Call 10/27/49)^(b)		441		434,293
3.75%, 05/15/46 (Call 11/15/45)		590		696,111
4.00%, 05/30/47 (Call 11/30/46)		662		809,364
4.05%, 03/07/48 (Call 09/07/47)		599		740,695
4.10%, 03/04/49 (Call 09/04/48)		541		680,872
4.30%, 08/25/45 (Call 02/25/45)		495		621,906
4.60%, 08/01/43		228		294,774
5.35%, 11/01/40		738		1,041,026
6.25%, 06/15/37^(b)		272		407,368
6.75%, 06/20/36		25		38,531
Travelers Property Casualty Corp., 6.38%, 03/15/33		420		620,971
Trinity Acquisition PLC, 6.13%, 08/15/43		290		398,495
Unum Group
4.50%, 12/15/49 (Call 06/15/49)		260		254,977
5.75%, 08/15/42		435		501,688
Validus Holdings Ltd., 8.88%, 01/26/40		50		78,465
Voya Financial Inc.
4.80%, 06/15/46		150		183,019
5.70%, 07/15/43		640		844,216
Western & Southern Financial Group Inc., 5.75%, 07/15/33^(a)		200		264,975
Western & Southern Life Insurance Co. (The), 5.15%, 01/15/49 (Call 07/15/48)^(a)		150		185,913
Willis North America Inc.
3.88%, 09/15/49 (Call 03/15/49)		561		652,768
5.05%, 09/15/48 (Call 03/15/48)		380		513,697


Security	Par (000)		Value

Insurance (continued)
WR Berkley Corp.
4.00%, 05/12/50 (Call 11/12/49)	$	1,165	$	1,370,228
4.75%, 08/01/44		210		264,032
XLIT Ltd.
5.25%, 12/15/43		210		289,302
5.50%, 03/31/45		446		589,120


				121,264,211

Internet — 1.3%
Alibaba Group Holding Ltd.
4.00%, 12/06/37 (Call 06/06/37)		290		341,178
4.20%, 12/06/47 (Call 06/06/47)		1,565		1,936,731
4.40%, 12/06/57 (Call 06/06/57)		670		875,579
4.50%, 11/28/34 (Call 05/28/34)		625		775,911
Alphabet Inc.
1.90%, 08/15/40 (Call 02/15/40)		1,136		1,072,304
2.05%, 08/15/50 (Call 02/15/50)^(b)		1,973		1,779,150
2.25%, 08/15/60 (Call 02/15/60)		1,594		1,422,866
Amazon.com Inc.
2.50%, 06/03/50 (Call 12/03/49)		1,456		1,442,983
2.70%, 06/03/60 (Call 12/03/59)		1,258		1,278,768
3.88%, 08/22/37 (Call 02/22/37)		2,650		3,250,286
4.05%, 08/22/47 (Call 02/22/47)		2,064		2,647,704
4.25%, 08/22/57 (Call 02/22/57)		2,192		2,900,916
4.80%, 12/05/34 (Call 06/05/34)		2,022		2,751,477
4.95%, 12/05/44 (Call 06/05/44)		1,650		2,335,736
eBay Inc., 4.00%, 07/15/42 (Call 01/15/42)		1,019		1,133,526
JD.com Inc., 4.13%, 01/14/50		378		405,747
Prosus NV, 4.03%, 08/03/50 (Call 02/03/50)^(a)		600		612,555
Tencent Holdings Ltd.
3.24%, 06/03/50 (Call 12/03/49)^(a)		800		806,400
3.29%, 06/03/60 (Call 12/03/59)^(a)		1,500		1,500,743
3.93%, 01/19/38 (Call 07/19/37)^(a)		800		914,733
4.53%, 04/11/49 (Call 10/11/48)^(a)(b)		200		248,034


				30,433,327

Iron & Steel — 0.2%
Nucor Corp.
4.40%, 05/01/48 (Call 11/01/47)^(b)		385		491,609
5.20%, 08/01/43 (Call 02/01/43)		554		746,139
6.40%, 12/01/37		632		925,216
Vale Overseas Ltd.
6.88%, 11/21/36		1,155		1,552,043
6.88%, 11/10/39		1,120		1,536,080
8.25%, 01/17/34		50		71,875
Vale SA, 5.63%, 09/11/42		455		560,105


				5,883,067

Leisure Time — 0.0%
Harley-Davidson Inc., 4.63%, 07/28/45 (Call 01/28/45)		260		275,733


Lodging — 0.0%
Marriott International Inc./MD
4.50%, 10/01/34 (Call 04/01/34)		165		170,110
Series GG, 3.50%, 10/15/32 (Call 07/15/32)		175		172,715


				342,825

Machinery — 0.6%
ABB Finance USA Inc., 4.38%, 05/08/42		1,158		1,498,972
Caterpillar Inc.
3.25%, 09/19/49 (Call 03/19/49)		1,110		1,230,890
3.25%, 04/09/50 (Call 10/09/49)		275		305,761
3.80%, 08/15/42^(b)		1,016		1,242,992


Security	Par (000)		Value

Machinery (continued)
4.30%, 05/15/44 (Call 11/15/43)	$	525	$	662,905
4.75%, 05/15/64 (Call 11/15/63)		862		1,229,586
5.20%, 05/27/41		620		884,740
5.30%, 09/15/35		86		117,509
6.05%, 08/15/36^(b)		529		779,545
Crane Co., 4.20%, 03/15/48 (Call 09/15/47)		70		72,967
Deere & Co.
2.88%, 09/07/49 (Call 03/07/49)^(b)		895		956,691
3.75%, 04/15/50 (Call 10/15/49)		513		635,402
3.90%, 06/09/42 (Call 12/09/41)^(b)		653		823,273
7.13%, 03/03/31		188		274,531
Dover Corp.
5.38%, 10/15/35^(b)		240		318,239
5.38%, 03/01/41 (Call 12/01/40)		460		583,708
Otis Worldwide Corp.
3.11%, 02/15/40 (Call 08/15/39)		1,112		1,182,825
3.36%, 02/15/50 (Call 08/15/49)		868		942,220
Rockwell Automation Inc., 4.20%, 03/01/49 (Call 09/01/48)		726		941,024
Xylem Inc., 4.38%, 11/01/46 (Call 05/01/46)		438		515,185


				15,198,965

Manufacturing — 1.5%
3M Co.
3.13%, 09/19/46 (Call 03/19/46)		264		283,981
3.25%, 08/26/49 (Call 02/26/49)		836		931,439
3.63%, 10/15/47 (Call 04/15/47)		416		485,039
3.70%, 04/15/50 (Call 10/15/49)		450		533,244
3.88%, 06/15/44		150		180,279
4.00%, 09/14/48 (Call 03/14/48)		1,263		1,572,002
5.70%, 03/15/37		215		313,179
Eaton Corp.
4.00%, 11/02/32		1,200		1,440,896
4.15%, 11/02/42		1,131		1,388,394
General Electric Co.
4.13%, 10/09/42		557		578,610
4.25%, 05/01/40 (Call 11/01/39)		2,378		2,506,545
4.35%, 05/01/50 (Call 11/01/49)		1,581		1,684,382
4.50%, 03/11/44		839		912,810
5.88%, 01/14/38		3,058		3,683,121
6.15%, 08/07/37		1,009		1,244,698
6.75%, 03/15/32		2,665		3,432,991
6.88%, 01/10/39		1,750		2,317,419
Illinois Tool Works Inc.
3.90%, 09/01/42 (Call 03/01/42)		817		995,665
4.88%, 09/15/41 (Call 03/15/41)		570		768,934
Parker-Hannifin Corp.
4.00%, 06/14/49 (Call 12/14/48)^(b)		856		1,011,300
4.10%, 03/01/47 (Call 09/01/46)		290		343,696
4.20%, 11/21/34 (Call 05/21/34)		795		962,154
4.45%, 11/21/44 (Call 05/21/44)		50		61,312
6.25%, 05/15/38		455		631,705
Siemens Financieringsmaatschappij NV
3.30%, 09/15/46^(a)(b)		720		811,486
4.20%, 03/16/47^(a)		1,045		1,342,991
4.40%, 05/27/45^(a)		1,578		2,043,249
Trane Technologies Global Holding Co. Ltd.
4.30%, 02/21/48 (Call 08/21/47)^(b)		150		180,170
5.75%, 06/15/43		700		966,627


Security	Par (000)		Value

Manufacturing (continued)
Trane Technologies Luxembourg Finance SA
4.50%, 03/21/49 (Call 09/21/48)	$	405	$	515,549
4.65%, 11/01/44 (Call 05/01/44)		190		236,973


				34,360,840

Media — 5.3%
Charter Communications Operating LLC/Charter Communications Operating Capital
3.70%, 04/01/51 (Call 10/01/50)		1,854		1,804,598
4.80%, 03/01/50 (Call 09/01/49)		1,399		1,593,740
5.13%, 07/01/49 (Call 01/01/49)		830		970,338
5.38%, 04/01/38 (Call 10/01/37)		1,329		1,589,019
5.38%, 05/01/47 (Call 11/01/46)		3,000		3,579,433
5.75%, 04/01/48 (Call 10/01/47)		1,797		2,243,033
6.38%, 10/23/35 (Call 04/23/35)		2,128		2,875,216
6.48%, 10/23/45 (Call 04/23/45)		2,765		3,729,463
6.83%, 10/23/55 (Call 04/23/55)		87		122,958
Comcast Corp.
2.45%, 08/15/52 (Call 02/15/52)		1,145		1,049,848
2.65%, 08/15/62 (Call 02/15/62)		800		757,335
2.80%, 01/15/51 (Call 07/15/50)		1,800		1,780,213
3.20%, 07/15/36 (Call 01/15/36)		870		969,920
3.25%, 11/01/39 (Call 05/01/39)		1,473		1,637,683
3.40%, 07/15/46 (Call 01/15/46)		1,140		1,257,115
3.45%, 02/01/50 (Call 08/01/49)		1,495		1,668,792
3.75%, 04/01/40 (Call 10/01/39)		1,334		1,552,735
3.90%, 03/01/38 (Call 09/01/37)		1,213		1,439,491
3.97%, 11/01/47 (Call 05/01/47)^(b)		1,937		2,321,109
4.00%, 08/15/47 (Call 02/15/47)		1,090		1,304,933
4.00%, 03/01/48 (Call 09/01/47)		893		1,079,583
4.00%, 11/01/49 (Call 05/01/49)		1,640		1,976,848
4.05%, 11/01/52 (Call 05/01/52)		1,210		1,483,040
4.20%, 08/15/34 (Call 02/15/34)		1,121		1,376,975
4.25%, 01/15/33		1,121		1,377,630
4.40%, 08/15/35 (Call 02/15/35)		995		1,251,565
4.50%, 01/15/43		805		1,022,659
4.60%, 10/15/38 (Call 04/15/38)		2,440		3,109,607
4.60%, 08/15/45 (Call 02/15/45)		1,445		1,892,340
4.65%, 07/15/42		1,070		1,389,732
4.70%, 10/15/48 (Call 04/15/48)		2,970		3,963,071
4.75%, 03/01/44		775		1,019,517
4.95%, 10/15/58 (Call 04/15/58)		2,023		2,919,694
5.65%, 06/15/35		681		958,385
6.40%, 05/15/38		299		452,541
6.45%, 03/15/37		340		508,060
6.50%, 11/15/35		862		1,302,105
6.55%, 07/01/39		155		238,246
6.95%, 08/15/37		918		1,439,357
7.05%, 03/15/33		671		1,018,811
Cox Communications Inc.
2.95%, 10/01/50 (Call 04/01/50)^(a)		1,030		997,533
4.50%, 06/30/43 (Call 12/30/42)^(a)(b)		71		83,854
4.60%, 08/15/47 (Call 02/15/47)^(a)		466		565,252
4.70%, 12/15/42^(a)		416		505,910
4.80%, 02/01/35 (Call 08/01/34)^(a)		100		124,059
8.38%, 03/01/39^(a)		1,061		1,727,708
Discovery Communications LLC
4.00%, 09/15/55 (Call 03/15/55)^(a)(b)		3,155		3,206,616
4.65%, 05/15/50 (Call 11/15/49)		164		184,833
5.00%, 09/20/37 (Call 03/20/37)		295		352,913
5.20%, 09/20/47 (Call 03/20/47)		564		671,832


Security	Par (000)		Value

Media (continued)
5.30%, 05/15/49 (Call 11/15/48)	$	1,063	$	1,278,340
6.35%, 06/01/40		250		337,066
Fox Corp.
5.48%, 01/25/39 (Call 07/25/38)		1,213		1,615,597
5.58%, 01/25/49 (Call 07/25/48)		1,240		1,694,084
Grupo Televisa SAB
5.00%, 05/13/45 (Call 11/13/44)^(b)		1,060		1,189,972
5.25%, 05/24/49 (Call 11/24/48)^(b)		500		585,945
6.13%, 01/31/46 (Call 07/31/45)		200		259,238
6.63%, 01/15/40		514		675,037
NBCUniversal Media LLC
4.45%, 01/15/43		1,220		1,541,475
5.95%, 04/01/41		895		1,328,711
6.40%, 04/30/40		110		168,015
Thomson Reuters Corp.
5.50%, 08/15/35		590		760,750
5.65%, 11/23/43 (Call 05/23/43)		480		627,340
5.85%, 04/15/40		275		370,653
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)		915		993,969
5.50%, 09/01/41 (Call 03/01/41)		1,300		1,562,297
5.88%, 11/15/40 (Call 05/15/40)		1,130		1,398,524
6.55%, 05/01/37		1,537		2,008,122
6.75%, 06/15/39		681		910,718
7.30%, 07/01/38^(b)		686		958,345
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		1,400		2,140,209
TWDC Enterprises 18 Corp.
3.00%, 07/30/46^(b)		410		414,553
3.70%, 12/01/42		607		684,724
4.13%, 06/01/44		630		753,622
4.38%, 08/16/41		400		485,345
Series B, 7.00%, 03/01/32		402		594,337
Series E, 4.13%, 12/01/41^(b)		450		531,841
ViacomCBS Inc.
4.20%, 05/19/32 (Call 02/19/32)		877		1,009,004
4.38%, 03/15/43^(b)		1,818		1,966,838
4.60%, 01/15/45 (Call 07/15/44)		920		1,017,130
4.85%, 07/01/42 (Call 01/01/42)		407		458,974
4.90%, 08/15/44 (Call 02/15/44)		825		941,896
4.95%, 05/19/50 (Call 11/19/49)^(b)		219		258,369
5.25%, 04/01/44 (Call 10/01/43)		310		361,485
5.50%, 05/15/33^(b)		490		604,495
5.85%, 09/01/43 (Call 03/01/43)		155		195,477
5.90%, 10/15/40 (Call 04/15/40)		215		265,006
6.88%, 04/30/36		1,160		1,577,841
Walt Disney Co. (The)
2.75%, 09/01/49 (Call 03/01/49)		1,075		1,039,207
3.50%, 05/13/40 (Call 11/13/39)		774		865,306
3.60%, 01/13/51 (Call 07/13/50)		2,084		2,325,160
3.80%, 05/13/60 (Call 11/13/59)		1,134		1,303,131
4.63%, 03/23/40 (Call 09/23/39)		679		859,103
4.70%, 03/23/50 (Call 09/23/49)^(b)		1,425		1,876,081
4.75%, 09/15/44 (Call 03/15/44)		980		1,243,644
4.75%, 11/15/46 (Call 05/15/46)		414		526,562
4.95%, 10/15/45 (Call 04/15/45)		520		678,295
5.40%, 10/01/43		755		1,039,434
6.15%, 03/01/37		60		85,315
6.15%, 02/15/41		74		108,623
6.20%, 12/15/34		1,240		1,814,943
6.40%, 12/15/35		1,002		1,499,036


Security	Par (000)		Value

Media (continued)
6.55%, 03/15/33	$	950	$	1,376,155
6.65%, 11/15/37		1,348		2,022,069


				125,634,656

Metal Fabricate & Hardware — 0.1%
Precision Castparts Corp.
3.90%, 01/15/43 (Call 07/15/42)		551		630,720
4.38%, 06/15/45 (Call 12/15/44)		591		726,010
Valmont Industries Inc.
5.00%, 10/01/44 (Call 04/01/44)		535		585,371
5.25%, 10/01/54 (Call 04/01/54)^(b)		131		147,338


				2,089,439

Mining — 1.6%
Anglo American Capital PLC, 3.95%, 09/10/50 (Call 03/10/50)^(a)		300		308,312
Barrick Gold Corp.
5.25%, 04/01/42		872		1,186,237
6.45%, 10/15/35		310		425,927
Barrick North America Finance LLC
5.70%, 05/30/41		760		1,063,902
5.75%, 05/01/43		452		650,350
7.50%, 09/15/38		222		330,083
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		1,165		1,643,931
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		1,119		1,396,917
5.00%, 09/30/43		1,746		2,421,945
Corp. Nacional del Cobre de Chile
3.70%, 01/30/50 (Call 07/30/49)^(a)(b)		1,240		1,294,848
4.25%, 07/17/42^(a)(b)		1,625		1,812,566
4.38%, 02/05/49 (Call 08/05/48)^(a)		1,125		1,306,360
4.50%, 08/01/47 (Call 02/01/47)^(a)(b)		1,485		1,751,061
4.88%, 11/04/44^(a)		355		434,254
5.63%, 10/18/43^(a)		1,000		1,330,014
Fresnillo PLC, 4.25%, 10/02/50 (Call 04/02/50)^(a)		400		407,100
Glencore Canada Corp., 6.20%, 06/15/35		60		73,642
Glencore Finance Canada Ltd.
5.55%, 10/25/42^(a)		680		787,865
6.00%, 11/15/41^(a)(b)		533		642,057
6.90%, 11/15/37^(a)(b)		200		259,618
Indonesia Asahan Aluminium Persero PT
5.80%, 05/15/50 (Call 11/15/49)^(a)		300		347,631
6.76%, 11/15/48^(a)(b)		825		1,056,462
Industrias Penoles SAB de CV
4.75%, 08/06/50 (Call 02/06/50)^(a)		250		262,813
5.65%, 09/12/49 (Call 03/12/49)^(a)		400		472,000
Kinross Gold Corp., 6.88%, 09/01/41 (Call 03/01/41)		141		186,408
Minera Mexico SA de CV, 4.50%, 01/26/50 (Call 07/26/49)^(a)		625		676,625
Newcrest Finance Pty Ltd., 4.20%, 05/13/50 (Call 11/13/49)^(a)(b)		665		772,591
Newmont Corp.
4.88%, 03/15/42 (Call 09/15/41)		442		583,783
5.45%, 06/09/44 (Call 12/09/43)		370		513,978
5.88%, 04/01/35		250		357,483
6.25%, 10/01/39		1,198		1,744,018
Rio Tinto Alcan Inc.
5.75%, 06/01/35		136		196,945
6.13%, 12/15/33		1,051		1,524,971
Rio Tinto Finance USA Ltd., 5.20%, 11/02/40		438		620,755


Security	Par (000)		Value

Mining (continued)
Rio Tinto Finance USA PLC
4.13%, 08/21/42 (Call 02/21/42)	$	1,125	$	1,406,217
4.75%, 03/22/42 (Call 09/22/41)		115		152,282
Southern Copper Corp.
5.25%, 11/08/42		805		1,022,540
5.88%, 04/23/45^(b)		1,145		1,565,966
6.75%, 04/16/40		535		768,259
7.50%, 07/27/35		630		924,056
Teck Resources Ltd.
5.20%, 03/01/42 (Call 09/01/41)		345		352,675
5.40%, 02/01/43 (Call 08/01/42)		265		274,950
6.00%, 08/15/40 (Call 02/15/40)		415		467,461
6.13%, 10/01/35		290		336,161
6.25%, 07/15/41 (Call 01/15/41)		542		619,802


				36,733,821

Oil & Gas — 5.5%
BG Energy Capital PLC, 5.13%, 10/15/41^(a)		340		429,781
BP Capital Markets America Inc.
2.77%, 11/10/50 (Call 05/10/50)		1,240		1,124,223
3.00%, 02/24/50 (Call 08/24/49)		1,730		1,622,623
Burlington Resources LLC
5.95%, 10/15/36		332		442,352
7.20%, 08/15/31		510		724,025
7.40%, 12/01/31		360		526,745
Canadian Natural Resources Ltd.
4.95%, 06/01/47 (Call 12/01/46)		801		850,439
5.85%, 02/01/35		605		706,855
6.25%, 03/15/38		360		419,075
6.45%, 06/30/33		620		745,012
6.50%, 02/15/37		320		374,984
6.75%, 02/01/39		475		574,356
7.20%, 01/15/32		300		379,467
Chevron Corp.
2.98%, 05/11/40 (Call 11/11/39)^(b)		815		864,059
3.08%, 05/11/50 (Call 11/11/49)		965		1,000,440
Chevron USA Inc., 2.34%, 08/12/50 (Call 02/12/50)		583		530,352
CNOOC Finance 2012 Ltd., 5.00%, 05/02/42^(a)		250		330,331
CNOOC Finance 2013 Ltd.
3.30%, 09/30/49 (Call 03/30/49)		700		732,145
4.25%, 05/09/43		320		386,333
CNOOC Finance 2014 ULC, 4.88%, 04/30/44^(b)		405		534,083
CNOOC Finance 2015 Australia Pty Ltd., 4.20%, 05/05/45		400		484,468
CNOOC Petroleum North America ULC
5.88%, 03/10/35		1,442		1,999,106
6.40%, 05/15/37		780		1,147,200
7.50%, 07/30/39		565		932,132
7.88%, 03/15/32		361		551,756
CNPC HK Overseas Capital Ltd., 5.95%, 04/28/41^(a)		450		650,357
Concho Resources Inc.
4.85%, 08/15/48 (Call 02/15/48)		825		1,010,974
4.88%, 10/01/47 (Call 04/01/47)		592		729,915
Conoco Funding Co., 7.25%, 10/15/31		630		912,250
ConocoPhillips
5.90%, 10/15/32		1,026		1,374,997
5.90%, 05/15/38		305		408,979
6.50%, 02/01/39		1,863		2,663,799
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		1,225		1,431,346
5.95%, 03/15/46 (Call 09/15/45)		250		358,670


Security	Par (000)		Value

Oil & Gas (continued)
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)	$	694	$	644,733
5.00%, 06/15/45 (Call 12/15/44)		1,037		1,002,590
5.60%, 07/15/41 (Call 01/15/41)		961		988,817
7.88%, 09/30/31		253		316,734
7.95%, 04/15/32		175		222,052
Ecopetrol SA
5.88%, 05/28/45		915		997,991
7.38%, 09/18/43		965		1,207,466
Empresa Nacional del Petroleo, 4.50%, 09/14/47 (Call 03/14/47)^(a)(b)		650		691,533
Eni SpA, 5.70%, 10/01/40^(a)		200		237,699
EOG Resources Inc.
3.90%, 04/01/35 (Call 10/01/34)		905		1,012,450
4.95%, 04/15/50 (Call 10/15/49)		615		763,384
5.10%, 01/15/36 (Call 07/15/35)		195		229,597
Equinor ASA
3.25%, 11/18/49 (Call 05/18/49)		1,125		1,157,858
3.70%, 04/06/50 (Call 10/06/49)		662		736,219
3.95%, 05/15/43		859		974,010
4.25%, 11/23/41		735		871,814
4.80%, 11/08/43		691		884,787
5.10%, 08/17/40		788		1,037,406
Exxon Mobil Corp.
3.00%, 08/16/39 (Call 02/16/39)		1,064		1,085,326
3.10%, 08/16/49 (Call 02/16/49)		1,694		1,692,235
3.45%, 04/15/51 (Call 10/15/50)		1,851		1,939,146
3.57%, 03/06/45 (Call 09/06/44)		1,044		1,109,018
4.11%, 03/01/46 (Call 09/01/45)		1,761		2,025,418
4.23%, 03/19/40 (Call 09/19/39)		1,455		1,744,390
4.33%, 03/19/50 (Call 09/19/49)		2,384		2,877,317
Gazprom PJSC Via Gaz Capital SA, 7.29%, 08/16/37^(a)		1,200		1,680,298
Hess Corp.
5.60%, 02/15/41		467		500,119
5.80%, 04/01/47 (Call 10/01/46)		645		719,210
6.00%, 01/15/40		745		826,305
7.13%, 03/15/33		530		638,796
7.30%, 08/15/31		500		609,566
Husky Energy Inc., 6.80%, 09/15/37		218		244,489
KazMunayGas National Co. JSC, 6.38%, 10/24/48^(a)		990		1,315,270
Marathon Oil Corp.
5.20%, 06/01/45 (Call 12/01/44)		340		322,273
6.60%, 10/01/37		755		778,899
6.80%, 03/15/32		721		775,388
Marathon Petroleum Corp.
4.50%, 04/01/48 (Call 10/01/47)		623		598,088
4.75%, 09/15/44 (Call 03/15/44)		777		764,430
5.00%, 09/15/54 (Call 03/15/54)		478		465,607
5.85%, 12/15/45 (Call 06/15/45)		305		332,468
6.50%, 03/01/41 (Call 09/01/40)		650		758,919
Motiva Enterprises LLC, 6.85%, 01/15/40^(a)		836		971,140
Noble Energy Inc.
4.20%, 10/15/49 (Call 04/15/49)		370		441,656
4.95%, 08/15/47 (Call 02/15/47)		620		811,547
5.05%, 11/15/44 (Call 05/15/44)		750		976,528
5.25%, 11/15/43 (Call 05/15/43)		823		1,096,064
6.00%, 03/01/41 (Call 09/01/40)		690		969,256
Pertamina Persero PT
4.15%, 02/25/60 (Call 08/25/59)^(a)		400		393,496
4.18%, 01/21/50 (Call 07/21/49)^(a)		735		733,725


Security	Par (000)		Value

Oil & Gas (continued)
4.70%, 07/30/49^(a)	$	1,455	$	1,564,125
6.00%, 05/03/42^(a)		270		329,383
6.45%, 05/30/44^(a)		1,700		2,209,859
6.50%, 11/07/48^(a)		1,080		1,447,066
Petroleos del Peru SA
4.75%, 06/19/32^(a)		868		946,294
5.63%, 06/19/47^(a)		1,000		1,148,050
Petronas Capital Ltd.
4.50%, 03/18/45^(a)		1,460		1,849,047
4.55%, 04/21/50 (Call 10/21/49)^(a)		2,000		2,517,038
4.80%, 04/21/60 (Call 10/21/59)^(a)		200		271,805
Phillips 66
4.65%, 11/15/34 (Call 05/15/34)		804		907,753
4.88%, 11/15/44 (Call 05/15/44)		1,465		1,588,119
5.88%, 05/01/42		1,356		1,677,115
PTTEP Treasury Center Co. Ltd., 3.90%, 12/06/59^(a)		500		533,325
Saudi Arabian Oil Co.
4.25%, 04/16/39^(a)		2,250		2,566,347
4.38%, 04/16/49^(a)		2,475		2,914,092
Shell International Finance BV
3.13%, 11/07/49 (Call 05/07/49)		1,010		1,018,675
3.25%, 04/06/50 (Call 10/06/49)		1,370		1,412,603
3.63%, 08/21/42		583		629,743
3.75%, 09/12/46		1,034		1,136,085
4.00%, 05/10/46		1,670		1,906,306
4.13%, 05/11/35		2,205		2,632,248
4.38%, 05/11/45		1,996		2,386,578
4.55%, 08/12/43		690		841,278
5.50%, 03/25/40		1,257		1,735,938
6.38%, 12/15/38^(b)		2,010		2,978,207
Sinopec Capital 2013 Ltd., 4.25%, 04/24/43^(a)		400		476,971
Sinopec Group Overseas Development 2012 Ltd., 4.88%, 05/17/42^(a)		735		949,778
Sinopec Group Overseas Development 2013 Ltd., 5.38%, 10/17/43^(a)		250		348,646
Sinopec Group Overseas Development 2015 Ltd., 4.10%, 04/28/45^(a)		55		64,952
Sinopec Group Overseas Development 2017 Ltd.
4.00%, 09/13/47^(a)		610		723,344
4.25%, 04/12/47^(a)		600		733,796
Sinopec Group Overseas Development 2018 Ltd.
3.35%, 05/13/50 (Call 11/13/49)^(a)		1,000		1,069,778
3.68%, 08/08/49 (Call 02/08/49)^(a)		610		690,067
4.60%, 09/12/48^(a)		250		325,790
Suncor Energy Inc.
4.00%, 11/15/47 (Call 05/15/47)		1,193		1,179,652
5.35%, 07/15/33		290		331,425
5.95%, 12/01/34		40		48,052
5.95%, 05/15/35		441		534,001
6.50%, 06/15/38		981		1,229,326
6.80%, 05/15/38		402		508,178
6.85%, 06/01/39		513		658,934
7.15%, 02/01/32		400		511,452
Thaioil Treasury Center Co. Ltd., 5.38%, 11/20/48^(a)		600		700,415
Total Capital International SA
2.99%, 06/29/41 (Call 12/29/40)^(b)		653		670,050
3.13%, 05/29/50 (Call 11/29/49)		1,650		1,654,502
3.39%, 06/29/60 (Call 12/29/59)		725		738,885
3.46%, 07/12/49 (Call 01/12/49)		1,051		1,119,378


Security	Par (000)		Value

Oil & Gas (continued)
Valero Energy Corp.
4.90%, 03/15/45	$	859	$	867,595
6.63%, 06/15/37		1,234		1,451,359
7.50%, 04/15/32		855		1,102,939
10.50%, 03/15/39		29		46,890


				130,010,390

Oil & Gas Services — 0.4%
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc., 4.08%, 12/15/47 (Call 06/15/47)		1,263		1,256,065
Baker Hughes Holdings LLC, 5.13%, 09/15/40		839		992,066
Halliburton Co.
4.50%, 11/15/41 (Call 05/15/41)		200		194,083
4.75%, 08/01/43 (Call 02/01/43)		1,145		1,098,187
4.85%, 11/15/35 (Call 05/15/35)		1,291		1,355,581
5.00%, 11/15/45 (Call 05/15/45)		816		808,567
6.70%, 09/15/38		721		860,721
7.45%, 09/15/39		940		1,196,092
National Oilwell Varco Inc., 3.95%, 12/01/42 (Call 06/01/42)		816		660,739


				8,422,101

Packaging & Containers — 0.2%
Packaging Corp. of America, 4.05%, 12/15/49 (Call 06/15/49)		670		810,262
Sonoco Products Co., 5.75%, 11/01/40 (Call 05/01/40)		634		837,332
WestRock MWV LLC, 7.95%, 02/15/31		51		71,181
WRKCo Inc.
3.00%, 06/15/33 (Call 03/15/33)		675		718,967
4.20%, 06/01/32 (Call 03/01/32)		1,090		1,289,356


				3,727,098

Pharmaceuticals — 6.8%
AbbVie Inc.
4.05%, 11/21/39 (Call 05/21/39)^(a)		3,480		3,990,700
4.25%, 11/21/49 (Call 05/21/49)^(a)		4,559		5,324,488
4.30%, 05/14/36 (Call 11/14/35)		967		1,144,969
4.40%, 11/06/42		1,901		2,273,125
4.45%, 05/14/46 (Call 11/14/45)		1,119		1,334,525
4.50%, 05/14/35 (Call 11/14/34)		1,233		1,498,723
4.55%, 03/15/35 (Call 09/15/34)^(a)		2,150		2,607,938
4.63%, 10/01/42 (Call 04/01/42)^(a)		400		481,130
4.70%, 05/14/45 (Call 11/14/44)		2,131		2,586,626
4.75%, 03/15/45 (Call 09/15/44)^(a)		1,144		1,401,688
4.85%, 06/15/44 (Call 12/15/43)^(a)		810		1,002,856
4.88%, 11/14/48 (Call 05/14/48)		1,235		1,565,480
AmerisourceBergen Corp.
4.25%, 03/01/45 (Call 09/01/44)		200		228,220
4.30%, 12/15/47 (Call 06/15/47)		759		874,796
AstraZeneca PLC
2.13%, 08/06/50 (Call 02/06/50)^(b)		365		328,344
4.00%, 09/18/42		508		619,639
4.38%, 11/16/45		695		894,470
4.38%, 08/17/48 (Call 02/17/48)		1,024		1,334,315
6.45%, 09/15/37		2,290		3,430,243
Bayer U.S. Finance II LLC
3.95%, 04/15/45 (Call 10/15/44)^(a)		640		653,979
4.20%, 07/15/34 (Call 01/15/34)^(a)		1,011		1,103,940
4.40%, 07/15/44 (Call 01/15/44)^(a)		859		949,577
4.63%, 06/25/38 (Call 12/25/37)^(a)(b)		892		1,043,933
4.65%, 11/15/43 (Call 05/15/43)^(a)		74		80,300
4.70%, 07/15/64 (Call 01/15/64)^(a)		760		854,724


Security	Par (000)		Value

Pharmaceuticals (continued)
4.88%, 06/25/48 (Call 12/25/47)^(a)(b)	$	1,000	$	1,202,612
5.50%, 07/30/35^(a)		100		121,791
Becton Dickinson and Co.
3.79%, 05/20/50 (Call 11/20/49)		780		868,953
4.67%, 06/06/47 (Call 12/06/46)		1,181		1,461,739
4.69%, 12/15/44 (Call 06/15/44)		1,154		1,412,020
Bristol-Myers Squibb Co.
3.25%, 08/01/42		1,244		1,390,793
4.13%, 06/15/39 (Call 12/15/38)		1,106		1,364,944
4.25%, 10/26/49 (Call 04/26/49)		2,841		3,629,628
4.35%, 11/15/47 (Call 05/15/47)		675		864,012
4.50%, 03/01/44 (Call 09/01/43)		690		940,850
4.55%, 02/20/48 (Call 08/20/47)		1,575		2,083,476
4.63%, 05/15/44 (Call 11/15/43)		560		733,578
5.00%, 08/15/45 (Call 02/15/45)		1,419		1,954,457
5.25%, 08/15/43		430		603,673
Cardinal Health Inc.
4.37%, 06/15/47 (Call 12/15/46)		495		540,207
4.50%, 11/15/44 (Call 05/15/44)		173		188,504
4.60%, 03/15/43^(b)		533		586,452
4.90%, 09/15/45 (Call 03/15/45)^(b)		515		591,880
Cigna Corp.
3.20%, 03/15/40 (Call 09/15/39)		475		501,554
3.40%, 03/15/50 (Call 09/15/49)		1,525		1,604,245
3.88%, 10/15/47 (Call 04/15/47)		917		1,025,731
4.80%, 08/15/38 (Call 02/15/38)		2,165		2,690,458
4.80%, 07/15/46 (Call 01/16/46)		446		560,519
4.90%, 12/15/48 (Call 06/15/48)		2,470		3,192,549
5.38%, 02/15/42 (Call 08/15/41)		425		542,918
6.13%, 11/15/41		205		292,405
CVS Health Corp.
2.70%, 08/21/40 (Call 02/21/40)		1,343		1,282,165
4.13%, 04/01/40 (Call 10/01/39)		775		879,607
4.25%, 04/01/50 (Call 10/01/49)		440		514,105
4.78%, 03/25/38 (Call 09/25/37)		3,575		4,317,927
4.88%, 07/20/35 (Call 01/20/35)^(b)		860		1,077,945
5.05%, 03/25/48 (Call 09/25/47)^(b)		6,092		7,726,373
5.13%, 07/20/45 (Call 01/20/45)		2,820		3,569,380
5.30%, 12/05/43 (Call 06/05/43)		1,008		1,287,835
Eli Lilly & Co.
2.25%, 05/15/50 (Call 11/15/49)		1,233		1,149,840
2.50%, 09/15/60 (Call 03/15/60)		625		585,370
3.70%, 03/01/45 (Call 09/01/44)		25		29,872
3.88%, 03/15/39 (Call 09/15/38)^(b)		1,050		1,266,581
3.95%, 05/15/47 (Call 11/15/46)		675		828,803
3.95%, 03/15/49 (Call 09/15/48)		498		617,317
4.15%, 03/15/59 (Call 09/15/58)		1,153		1,493,399
5.95%, 11/15/37		50		72,994
GlaxoSmithKline Capital Inc.
4.20%, 03/18/43		895		1,138,874
5.38%, 04/15/34		635		878,267
6.38%, 05/15/38		1,870		2,847,147
Johnson & Johnson
2.10%, 09/01/40 (Call 03/01/40)		618		601,234
2.25%, 09/01/50 (Call 03/01/50)		1,190		1,161,851
2.45%, 09/01/60 (Call 03/01/60)^(b)		387		383,150
3.40%, 01/15/38 (Call 07/15/37)		760		890,322
3.50%, 01/15/48 (Call 07/15/47)^(b)		941		1,152,865
3.55%, 03/01/36 (Call 09/01/35)^(b)		869		1,038,498
3.63%, 03/03/37 (Call 09/03/36)		1,150		1,371,554


Security	Par (000)		Value

Pharmaceuticals (continued)
3.70%, 03/01/46 (Call 09/01/45)	$	905	$	1,120,045
3.75%, 03/03/47 (Call 09/03/46)		1,320		1,656,224
4.38%, 12/05/33 (Call 06/05/33)		1,167		1,525,781
4.50%, 09/01/40^(b)		360		483,876
4.50%, 12/05/43 (Call 06/05/43)		310		418,809
4.85%, 05/15/41		336		465,421
4.95%, 05/15/33		371		508,348
5.85%, 07/15/38		575		871,782
5.95%, 08/15/37		950		1,447,667
McKesson Corp.
4.88%, 03/15/44 (Call 09/15/43)^(b)		450		536,101
6.00%, 03/01/41 (Call 09/01/40)		20		26,738
Mead Johnson Nutrition Co.
4.60%, 06/01/44 (Call 12/01/43)		888		1,171,136
5.90%, 11/01/39		140		198,384
Merck & Co. Inc.
2.35%, 06/24/40 (Call 12/24/39)		1,359		1,366,685
2.45%, 06/24/50 (Call 12/24/49)		845		837,972
3.60%, 09/15/42 (Call 03/15/42)		730		868,663
3.70%, 02/10/45 (Call 08/10/44)		1,656		1,964,496
3.90%, 03/07/39 (Call 09/07/38)^(b)		1,245		1,538,067
4.00%, 03/07/49 (Call 09/07/48)		1,120		1,411,766
4.15%, 05/18/43		1,410		1,762,813
6.50%, 12/01/33		27		41,257
6.55%, 09/15/37^(b)		75		120,271
Merck Sharp & Dohme Corp., 5.75%, 11/15/36^(b)		25		35,109
Mylan Inc.
5.20%, 04/15/48 (Call 10/15/47)		615		764,296
5.40%, 11/29/43 (Call 05/29/43)		600		742,791
Mylan NV, 5.25%, 06/15/46 (Call 12/15/45)		735		911,599
Novartis Capital Corp.
2.75%, 08/14/50 (Call 02/14/50)		1,040		1,100,010
3.70%, 09/21/42		429		522,799
4.00%, 11/20/45 (Call 05/20/45)		995		1,269,161
4.40%, 05/06/44		1,461		1,945,743
Perrigo Finance Unlimited Co., 4.90%, 12/15/44 (Call 06/15/44)^(b)		410		437,606
Pfizer Inc.
2.55%, 05/28/40 (Call 11/28/39)		1,125		1,158,975
2.70%, 05/28/50 (Call 11/28/49)		608		620,784
3.90%, 03/15/39 (Call 09/15/38)		895		1,080,770
4.00%, 12/15/36		780		959,529
4.00%, 03/15/49 (Call 09/15/48)		1,294		1,635,579
4.10%, 09/15/38 (Call 03/15/38)		610		749,596
4.13%, 12/15/46		754		962,779
4.20%, 09/15/48 (Call 03/15/48)		1,139		1,480,734
4.30%, 06/15/43		1,001		1,282,252
4.40%, 05/15/44		715		932,912
5.60%, 09/15/40		565		803,288
7.20%, 03/15/39		1,360		2,254,958
Takeda Pharmaceutical Co. Ltd.
3.03%, 07/09/40 (Call 01/09/40)		1,070		1,100,216
3.18%, 07/09/50 (Call 01/09/50)^(b)		2,015		2,046,490
3.38%, 07/09/60 (Call 01/09/60)^(b)		680		706,740
Upjohn Inc.
3.85%, 06/22/40 (Call 12/22/39)^(a)		860		925,342
4.00%, 06/22/50 (Call 12/22/49)^(a)		1,250		1,323,297
Wyeth LLC
5.95%, 04/01/37		1,256		1,844,410
6.00%, 02/15/36		253		364,517


Security	Par (000)		Value

Pharmaceuticals (continued)
6.50%, 02/01/34	$	1,014	$	1,574,130
Zoetis Inc.
3.00%, 05/15/50 (Call 11/15/49)		385		404,009
3.95%, 09/12/47 (Call 03/12/47)		956		1,149,414
4.45%, 08/20/48 (Call 02/20/48)^(b)		555		712,361
4.70%, 02/01/43 (Call 08/01/42)		366		480,951


				161,347,400

Pipelines — 3.8%
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, 11/02/47^(a)		1,665		1,983,581
Cameron LNG LLC
2.90%, 07/15/31 (Call 04/15/31)^(a)		100		108,303
3.30%, 01/15/35 (Call 09/15/34)^(a)		1,375		1,528,926
3.70%, 01/15/39 (Call 07/15/38)^(a)		370		409,023
Colonial Pipeline Co.
4.25%, 04/15/48 (Call 10/15/47)^(a)		355		401,601
7.63%, 04/15/32^(a)		85		120,776
Columbia Pipeline Group Inc., 5.80%, 06/01/45 (Call 12/01/44)		445		575,210
El Paso Natural Gas Co. LLC, 8.38%, 06/15/32		50		68,928
Enable Midstream Partners LP, 5.00%, 05/15/44 (Call 11/15/43)		170		140,569
Enbridge Energy Partners LP
5.50%, 09/15/40 (Call 03/15/40)		468		550,744
7.38%, 10/15/45 (Call 04/15/45)		487		707,023
Series B, 7.50%, 04/15/38		250		343,453
Enbridge Inc.
4.00%, 11/15/49 (Call 05/15/49)		430		447,375
4.50%, 06/10/44 (Call 12/10/43)		215		238,030
5.50%, 12/01/46 (Call 06/01/46)		730		916,026
Energy Transfer Operating LP
4.90%, 03/15/35 (Call 09/15/34)		500		491,862
5.00%, 05/15/50 (Call 11/15/49)		1,880		1,756,082
5.15%, 02/01/43 (Call 08/01/42)		410		382,289
5.15%, 03/15/45 (Call 09/15/44)		791		735,407
5.30%, 04/15/47 (Call 10/15/46)		740		705,019
5.95%, 10/01/43 (Call 04/01/43)		355		356,857
6.00%, 06/15/48 (Call 12/15/47)		700		717,070
6.05%, 06/01/41 (Call 12/01/40)		115		117,810
6.13%, 12/15/45 (Call 06/15/45)		743		755,665
6.25%, 04/15/49 (Call 10/15/48)		1,310		1,383,278
6.50%, 02/01/42 (Call 08/01/41)		715		762,603
6.63%, 10/15/36		205		223,446
7.50%, 07/01/38		1,370		1,580,543
Series 20Y, 5.80%, 06/15/38 (Call 12/15/37)		200		203,920
Enterprise Products Operating LLC
3.20%, 02/15/52 (Call 08/15/51)		915		845,450
3.70%, 01/31/51 (Call 07/31/50)		1,000		989,012
3.95%, 01/31/60 (Call 07/31/59)		925		906,584
4.20%, 01/31/50 (Call 07/31/49)		1,265		1,367,806
4.25%, 02/15/48 (Call 08/15/47)		840		901,531
4.45%, 02/15/43 (Call 08/15/42)		890		958,196
4.80%, 02/01/49 (Call 08/01/48)		1,010		1,170,187
4.85%, 08/15/42 (Call 02/15/42)		923		1,053,378
4.85%, 03/15/44 (Call 09/15/43)		1,175		1,327,622
4.90%, 05/15/46 (Call 11/15/45)		1,296		1,456,646
4.95%, 10/15/54 (Call 04/15/54)		225		254,740
5.10%, 02/15/45 (Call 08/15/44)		875		1,028,986
5.70%, 02/15/42		249		310,046
5.95%, 02/01/41		430		547,185
6.13%, 10/15/39		660		854,311


Security	Par (000)		Value

Pipelines (continued)
6.45%, 09/01/40	$	100	$	132,641
7.55%, 04/15/38		265		375,012
Series D, 6.88%, 03/01/33		328		436,152
Series H, 6.65%, 10/15/34		141		189,905
Series J, 5.75%, 03/01/35		75		93,833
Gulfstream Natural Gas System LLC, 5.95%, 10/15/45 (Call 04/15/45)^(a)		200		247,684
Kinder Morgan Energy Partners LP
4.70%, 11/01/42 (Call 05/01/42)		655		691,745
5.00%, 08/15/42 (Call 02/15/42)		535		586,259
5.00%, 03/01/43 (Call 09/01/42)		575		626,660
5.40%, 09/01/44 (Call 03/01/44)		465		529,526
5.50%, 03/01/44 (Call 09/01/43)		740		850,272
5.63%, 09/01/41		70		79,797
5.80%, 03/15/35		400		476,371
6.38%, 03/01/41		580		710,971
6.50%, 02/01/37		200		244,818
6.50%, 09/01/39		503		626,700
6.55%, 09/15/40		425		530,227
6.95%, 01/15/38		1,140		1,468,675
7.30%, 08/15/33		76		102,526
7.40%, 03/15/31		148		191,627
7.50%, 11/15/40		355		470,428
7.75%, 03/15/32		180		241,935
Kinder Morgan Inc.
3.25%, 08/01/50 (Call 02/01/50)^(b)		750		676,518
5.05%, 02/15/46 (Call 08/15/45)		656		736,688
5.20%, 03/01/48 (Call 09/01/47)		428		494,869
5.30%, 12/01/34 (Call 06/01/34)		825		955,812
5.55%, 06/01/45 (Call 12/01/44)		1,560		1,826,439
7.75%, 01/15/32		827		1,131,269
7.80%, 08/01/31		41		54,818
Magellan Midstream Partners LP
3.95%, 03/01/50 (Call 09/01/49)		475		479,178
4.20%, 03/15/45 (Call 09/15/44)		155		153,301
4.20%, 10/03/47 (Call 04/03/47)		358		368,293
4.25%, 09/15/46 (Call 03/15/46)		245		253,393
4.85%, 02/01/49 (Call 08/01/48)		598		676,256
5.15%, 10/15/43 (Call 04/15/43)		1,000		1,170,939
MPLX LP
4.50%, 04/15/38 (Call 10/15/37)		1,457		1,475,841
4.70%, 04/15/48 (Call 10/15/47)		1,220		1,208,420
4.90%, 04/15/58 (Call 10/15/57)		220		218,643
5.20%, 03/01/47 (Call 09/01/46)		639		671,696
5.20%, 12/01/47 (Call 06/01/47)		269		278,713
5.50%, 02/15/49 (Call 08/15/48)		1,558		1,726,762
NGPL PipeCo LLC, 7.77%, 12/15/37^(a)		595		736,645
Northern Natural Gas Co., 4.30%, 01/15/49 (Call 07/15/48)^(a)		270		312,709
ONEOK Inc.
4.45%, 09/01/49 (Call 03/01/49)		797		703,649
4.50%, 03/15/50 (Call 09/15/49)		105		93,108
4.95%, 07/13/47 (Call 01/06/47)		685		647,527
5.20%, 07/15/48 (Call 01/15/48)		789		767,219
6.00%, 06/15/35		230		250,832
7.15%, 01/15/51 (Call 07/15/50)		530		620,361
ONEOK Partners LP
6.13%, 02/01/41 (Call 08/01/40)		668		692,563
6.20%, 09/15/43 (Call 03/15/43)		295		314,579
6.65%, 10/01/36		335		369,850


Security	Par (000)		Value

Pipelines (continued)
6.85%, 10/15/37	$	375	$	420,046
Phillips 66 Partners LP
4.68%, 02/15/45 (Call 08/15/44)		320		317,112
4.90%, 10/01/46 (Call 04/01/46)		835		840,440
Plains All American Pipeline LP/PAA Finance Corp.
4.30%, 01/31/43 (Call 07/31/42)		365		303,347
4.70%, 06/15/44 (Call 12/15/43)		282		247,779
4.90%, 02/15/45 (Call 08/15/44)		610		550,287
5.15%, 06/01/42 (Call 12/01/41)		575		527,042
6.65%, 01/15/37		334		354,739
Sabal Trail Transmission LLC
4.68%, 05/01/38 (Call 11/01/37)^(a)		205		235,201
4.83%, 05/01/48 (Call 11/01/47)^(a)		240		281,472
Southern Natural Gas Co. LLC
4.80%, 03/15/47 (Call 09/15/46)^(a)		160		172,326
8.00%, 03/01/32		200		279,871
Spectra Energy Partners LP
4.50%, 03/15/45 (Call 09/15/44)		675		738,474
5.95%, 09/25/43 (Call 03/25/43)		345		432,859
Sunoco Logistics Partners Operations LP
4.95%, 01/15/43 (Call 07/15/42)		410		367,150
5.30%, 04/01/44 (Call 10/01/43)		616		578,888
5.35%, 05/15/45 (Call 11/15/44)		650		619,040
5.40%, 10/01/47 (Call 04/01/47)		1,240		1,195,229
6.10%, 02/15/42		225		228,568
Tennessee Gas Pipeline Co. LLC, 7.63%, 04/01/37		100		132,095
Texas Eastern Transmission LP
4.15%, 01/15/48 (Call 07/15/47)^(a)		643		670,309
7.00%, 07/15/32		270		360,737
TransCanada PipeLines Ltd.
4.63%, 03/01/34 (Call 12/01/33)		670		774,102
4.75%, 05/15/38 (Call 11/15/37)		470		552,949
4.88%, 05/15/48 (Call 11/15/47)		795		966,626
5.00%, 10/16/43 (Call 04/16/43)		424		508,287
5.10%, 03/15/49 (Call 09/15/48)		996		1,258,457
5.60%, 03/31/34		250		312,614
5.85%, 03/15/36		250		325,036
6.10%, 06/01/40		509		673,227
6.20%, 10/15/37		878		1,186,428
7.25%, 08/15/38		555		806,715
7.63%, 01/15/39		1,146		1,740,712
Transcontinental Gas Pipe Line Co. LLC
3.95%, 05/15/50 (Call 11/15/49)^(a)		600		612,326
4.45%, 08/01/42 (Call 02/01/42)		500		532,730
4.60%, 03/15/48 (Call 09/15/47)		705		773,248
5.40%, 08/15/41 (Call 02/15/41)		201		237,921
Williams Companies Inc. (The)
4.85%, 03/01/48 (Call 09/01/47)		765		837,142
4.90%, 01/15/45 (Call 07/15/44)		755		804,086
5.10%, 09/15/45 (Call 03/15/45)		678		755,272
5.40%, 03/04/44 (Call 09/04/43)		500		547,490
5.75%, 06/24/44 (Call 12/24/43)		520		601,387
5.80%, 11/15/43 (Call 05/15/43)		235		271,241
6.30%, 04/15/40		995		1,204,988
8.75%, 03/15/32		563		796,426
Series A, 7.50%, 01/15/31		105		135,042


				89,721,216

Private Equity — 0.1%
Apollo Management Holdings LP, 5.00%, 03/15/48 (Call 09/15/47)^(a)		85		100,201


Security	Par (000)		Value

Private Equity (continued)
Carlyle Finance LLC, 5.65%, 09/15/48 (Call 03/15/48)^(a)(b)	$	325	$	412,897
Carlyle Holdings II Finance LLC, 5.63%, 03/30/43^(a)(b)		311		386,775
KKR Group Finance Co. III LLC, 5.13%, 06/01/44 (Call 12/01/43)^(a)		665		813,186
KKR Group Finance Co. VIII LLC, 3.50%, 08/25/50 (Call 02/25/50)^(a)		100		101,006


				1,814,065

Real Estate Investment Trusts — 1.4%
Alexandria Real Estate Equities Inc.
1.88%, 02/01/33 (Call 11/01/32)		657		639,126
3.38%, 08/15/31 (Call 05/15/31)		725		813,291
4.00%, 02/01/50 (Call 08/01/49)		635		747,350
4.85%, 04/15/49 (Call 10/15/48)		525		690,921
American Tower Corp.
3.10%, 06/15/50 (Call 12/15/49)		1,100		1,076,385
3.70%, 10/15/49 (Call 04/15/49)		718		774,311
AvalonBay Communities Inc.
3.90%, 10/15/46 (Call 04/15/46)		601		703,703
4.15%, 07/01/47 (Call 01/01/47)		450		549,052
4.35%, 04/15/48 (Call 10/15/47)		84		105,350
Camden Property Trust, 3.35%, 11/01/49 (Call 05/01/49)		595		637,696
Crown Castle International Corp.
3.25%, 01/15/51 (Call 07/15/50)		248		247,302
4.00%, 11/15/49 (Call 05/15/49)		538		598,282
4.15%, 07/01/50 (Call 01/01/50)		482		551,561
4.75%, 05/15/47 (Call 11/15/46)		133		163,485
5.20%, 02/15/49 (Call 08/15/48)		952		1,230,567
Duke Realty LP, 3.05%, 03/01/50 (Call 09/01/49)		652		673,268
Equinix Inc.
2.95%, 09/15/51 (Call 03/15/51)		360		351,778
3.00%, 07/15/50 (Call 01/15/50)		720		703,995
ERP Operating LP
4.00%, 08/01/47 (Call 02/01/47)		125		147,717
4.50%, 07/01/44 (Call 01/01/44)		395		493,343
4.50%, 06/01/45 (Call 12/01/44)^(b)		670		843,628
Essex Portfolio LP
2.65%, 03/15/32 (Call 12/15/31)^(b)		215		223,185
2.65%, 09/01/50 (Call 03/01/50)		200		182,472
4.50%, 03/15/48 (Call 09/15/47)		355		441,348
Federal Realty Investment Trust
3.63%, 08/01/46 (Call 02/01/46)^(b)		495		485,421
4.50%, 12/01/44 (Call 06/01/44)		432		484,323
Healthpeak Properties Inc., 6.75%, 02/01/41 (Call 08/01/40)		205		291,221
Kilroy Realty LP, 2.50%, 11/15/32 (Call 08/15/32)		662		642,407
Kimco Realty Corp.
3.70%, 10/01/49 (Call 04/01/49)		434		423,027
4.13%, 12/01/46 (Call 06/01/46)		51		52,573
4.25%, 04/01/45 (Call 10/01/44)^(b)		625		655,556
4.45%, 09/01/47 (Call 03/01/47)		373		397,034
National Retail Properties Inc., 3.10%, 04/15/50 (Call 10/15/49)		880		771,192
Prologis LP
2.13%, 10/15/50 (Call 04/15/50)		800		717,777
3.00%, 04/15/50 (Call 10/15/49)		812		866,995
4.38%, 09/15/48 (Call 03/15/48)		235		310,696
Realty Income Corp., 4.65%, 03/15/47 (Call 09/15/46)		695		886,324
Regency Centers LP
4.40%, 02/01/47 (Call 08/01/46)		385		422,918
4.65%, 03/15/49 (Call 09/15/48)		194		219,925


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Simon Property Group LP
3.25%, 09/13/49 (Call 03/13/49)	$	1,549	$	1,402,387
3.80%, 07/15/50 (Call 01/15/50)		171		168,494
4.25%, 10/01/44 (Call 04/01/44)		545		575,759
4.25%, 11/30/46 (Call 05/30/46)		285		301,402
4.75%, 03/15/42 (Call 09/15/41)		531		593,579
6.75%, 02/01/40 (Call 11/01/39)		560		777,172
Trust F/1401
6.39%, 01/15/50 (Call 07/15/49)^(a)		600		623,250
6.95%, 01/30/44 (Call 07/30/43)^(a)		200		219,241
UDR Inc.
2.10%, 08/01/32 (Call 05/01/32)^(b)		980		965,897
3.00%, 08/15/31 (Call 05/15/31)^(b)		665		716,214
3.10%, 11/01/34 (Call 08/01/34)^(b)		95		102,611
Ventas Realty LP
4.38%, 02/01/45 (Call 08/01/44)		600		618,443
4.88%, 04/15/49 (Call 10/15/48)		223		248,307
5.70%, 09/30/43 (Call 03/30/43)		241		294,644
WEA Finance LLC, 4.63%, 09/20/48 (Call 03/20/48)^(a)(b)		100		96,687
WEA Finance LLC/Westfield UK & Europe Finance PLC, 4.75%, 09/17/44 (Call 03/17/44)^(a)		280		276,343
Welltower Inc.
4.95%, 09/01/48 (Call 03/01/48)		460		553,624
6.50%, 03/15/41 (Call 09/15/40)		495		652,824
Weyerhaeuser Co.
6.88%, 12/15/33		82		113,341
7.38%, 03/15/32		1,090		1,583,432


				32,100,156

Retail — 2.9%
Alimentation Couche-Tard Inc.
3.80%, 01/25/50 (Call 07/25/49)^(a)		855		928,131
4.50%, 07/26/47 (Call 01/26/47)^(a)		385		457,189
Costco Wholesale Corp., 1.75%, 04/20/32 (Call 01/20/32)		1,002		1,020,333
Darden Restaurants Inc., 4.55%, 02/15/48 (Call 08/15/47)		330		335,387
Dollar General Corp., 4.13%, 04/03/50 (Call 10/03/49)		651		780,648
Home Depot Inc. (The)
3.13%, 12/15/49 (Call 06/15/49)		1,156		1,263,952
3.30%, 04/15/40 (Call 10/15/39)		733		833,528
3.35%, 04/15/50 (Call 10/15/49)		1,050		1,186,501
3.50%, 09/15/56 (Call 03/15/56)		637		737,999
3.90%, 06/15/47 (Call 12/15/46)		1,188		1,440,328
4.20%, 04/01/43 (Call 10/01/42)		1,106		1,383,508
4.25%, 04/01/46 (Call 10/01/45)		1,120		1,427,965
4.40%, 03/15/45 (Call 09/15/44)		1,030		1,320,849
4.50%, 12/06/48 (Call 06/06/48)		1,176		1,560,116
4.88%, 02/15/44 (Call 08/15/43)		1,060		1,445,939
5.40%, 09/15/40 (Call 03/15/40)		562		794,134
5.88%, 12/16/36		2,428		3,588,057
5.95%, 04/01/41 (Call 10/01/40)		805		1,208,918
Kohl’s Corp., 5.55%, 07/17/45 (Call 01/17/45)		335		303,155
Lowe’s Companies Inc.
3.00%, 10/15/50 (Call 04/15/50)		1,655		1,695,118
3.70%, 04/15/46 (Call 10/15/45)		1,734		1,969,207
4.05%, 05/03/47 (Call 11/03/46)		1,086		1,293,260
4.25%, 09/15/44 (Call 03/15/44)		146		169,801
4.38%, 09/15/45 (Call 03/15/45)		578		713,357
4.65%, 04/15/42 (Call 10/15/41)		569		726,157
5.00%, 04/15/40 (Call 10/15/39)		115		150,999
5.00%, 09/15/43 (Call 03/15/43)		30		38,340


Security	Par (000)		Value

Retail (continued)
McDonald’s Corp.
3.63%, 05/01/43	$	996	$	1,118,054
3.63%, 09/01/49 (Call 03/01/49)		1,086		1,209,771
3.70%, 02/15/42		646		729,733
4.20%, 04/01/50 (Call 10/01/49)		325		393,728
4.45%, 03/01/47 (Call 09/01/46)		525		645,128
4.45%, 09/01/48 (Call 03/01/48)		920		1,143,711
4.60%, 05/26/45 (Call 11/26/44)		815		1,015,093
4.70%, 12/09/35 (Call 06/09/35)		913		1,165,672
4.88%, 07/15/40		246		316,116
4.88%, 12/09/45 (Call 06/09/45)		1,015		1,319,094
5.70%, 02/01/39		608		834,904
6.30%, 10/15/37		691		1,017,646
6.30%, 03/01/38		439		648,445
Starbucks Corp.
3.35%, 03/12/50 (Call 09/12/49)		329		342,690
3.50%, 11/15/50 (Call 05/15/50)		723		770,147
3.75%, 12/01/47 (Call 06/01/47)		725		794,400
4.30%, 06/15/45 (Call 12/15/44)		315		371,077
4.45%, 08/15/49 (Call 02/15/49)		978		1,190,145
4.50%, 11/15/48 (Call 05/15/48)		950		1,169,975
Target Corp.
3.63%, 04/15/46		810		990,840
3.90%, 11/15/47 (Call 05/15/47)		617		785,034
4.00%, 07/01/42		1,000		1,283,795
Tiffany & Co., 4.90%, 10/01/44 (Call 04/01/44)^(b)		379		523,182
TJX Companies Inc. (The), 4.50%, 04/15/50 (Call 10/15/49)		990		1,311,350
Walgreen Co., 4.40%, 09/15/42		655		688,378
Walgreens Boots Alliance Inc.
4.50%, 11/18/34 (Call 05/18/34)		508		570,150
4.65%, 06/01/46 (Call 12/01/45)		285		307,341
4.80%, 11/18/44 (Call 05/18/44)		790		867,708
Walmart Inc.
2.95%, 09/24/49 (Call 03/24/49)		1,325		1,470,910
3.63%, 12/15/47 (Call 06/15/47)		645		786,670
3.95%, 06/28/38 (Call 12/28/37)		838		1,048,673
4.00%, 04/11/43 (Call 10/11/42)		805		1,013,967
4.05%, 06/29/48 (Call 12/29/47)		2,510		3,262,182
4.30%, 04/22/44 (Call 10/22/43)		395		516,150
4.75%, 10/02/43 (Call 04/02/43)		360		480,269
5.00%, 10/25/40		530		740,183
5.25%, 09/01/35		1,870		2,702,345
5.63%, 04/01/40		780		1,166,976
5.63%, 04/15/41		743		1,124,214
6.20%, 04/15/38^(b)		535		849,363
6.50%, 08/15/37		345		551,337


				68,009,422

Semiconductors — 1.6%
Analog Devices Inc.
4.50%, 12/05/36 (Call 06/05/36)		455		537,800
5.30%, 12/15/45 (Call 06/15/45)		145		198,770
Applied Materials Inc.
2.75%, 06/01/50 (Call 12/01/49)		945		964,466
4.35%, 04/01/47 (Call 10/01/46)^(b)		681		896,725
5.10%, 10/01/35 (Call 04/01/35)		435		600,666
5.85%, 06/15/41		578		861,875
Broadcom Inc.
4.15%, 11/15/30 (Call 08/15/30)		1,800		2,016,494
4.30%, 11/15/32 (Call 08/15/32)^(b)		1,703		1,941,462


Security	Par (000)		Value

Semiconductors (continued)
Intel Corp.
3.10%, 02/15/60 (Call 08/15/59)	$	323	$	343,402
3.25%, 11/15/49 (Call 05/15/49)		1,720		1,896,586
3.73%, 12/08/47 (Call 06/08/47)		1,605		1,886,571
4.00%, 12/15/32		1,420		1,761,813
4.10%, 05/19/46 (Call 11/19/45)		1,515		1,887,870
4.10%, 05/11/47 (Call 11/11/46)		840		1,040,394
4.25%, 12/15/42^(b)		300		374,690
4.60%, 03/25/40 (Call 09/25/39)		136		178,664
4.75%, 03/25/50 (Call 09/25/49)		1,975		2,693,853
4.80%, 10/01/41		535		710,295
4.90%, 07/29/45 (Call 01/29/45)		490		678,298
4.95%, 03/25/60 (Call 09/25/59)		768		1,114,486
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)		995		1,045,103
5.00%, 03/15/49 (Call 09/15/48)		211		281,393
5.65%, 11/01/34 (Call 07/01/34)		262		347,385
Lam Research Corp.
2.88%, 06/15/50 (Call 12/15/49)		1,157		1,189,287
3.13%, 06/15/60 (Call 12/15/59)		610		643,013
4.88%, 03/15/49 (Call 09/15/48)		625		868,425
NVIDIA Corp.
3.50%, 04/01/40 (Call 10/01/39)		1,154		1,337,345
3.50%, 04/01/50 (Call 10/01/49)		1,020		1,184,485
3.70%, 04/01/60 (Call 10/01/59)		750		876,107
QUALCOMM Inc.
1.65%, 05/20/32 (Call 02/20/32)^(a)		1,067		1,043,898
3.25%, 05/20/50 (Call 11/20/49)		710		782,303
4.30%, 05/20/47 (Call 11/20/46)		806		1,026,324
4.65%, 05/20/35 (Call 11/20/34)		979		1,284,592
4.80%, 05/20/45 (Call 11/20/44)^(b)		1,288		1,733,996
Texas Instruments Inc.
3.88%, 03/15/39 (Call 09/15/38)		823		1,004,563
4.15%, 05/15/48 (Call 11/15/47)		1,110		1,451,056


				38,684,455

Software — 2.7%
Activision Blizzard Inc.
2.50%, 09/15/50 (Call 03/15/50)		790		711,650
4.50%, 06/15/47 (Call 12/15/46)		550		689,262
Fidelity National Information Services Inc., Series 30Y, 4.75%, 05/15/48 (Call 11/15/47)		365		462,795
Fiserv Inc., 4.40%, 07/01/49 (Call 01/01/49)		1,541		1,908,375
Microsoft Corp.
2.53%, 06/01/50 (Call 12/01/49)		7,275		7,414,392
2.68%, 06/01/60 (Call 12/01/59)		4,903		5,006,118
3.45%, 08/08/36 (Call 02/08/36)		1,312		1,577,946
3.50%, 02/12/35 (Call 08/12/34)		1,330		1,614,935
3.50%, 11/15/42		875		1,059,179
3.70%, 08/08/46 (Call 02/08/46)		2,454		3,015,795
3.75%, 02/12/45 (Call 08/12/44)		1,000		1,237,063
3.95%, 08/08/56 (Call 02/08/56)		1,616		2,074,063
4.00%, 02/12/55 (Call 08/12/54)		125		165,432
4.10%, 02/06/37 (Call 08/06/36)		1,452		1,856,112
4.20%, 11/03/35 (Call 05/03/35)		805		1,050,590
4.25%, 02/06/47 (Call 08/06/46)^(b)		123		167,135
4.45%, 11/03/45 (Call 05/03/45)^(b)		1,300		1,787,812
4.50%, 10/01/40		208		282,248
4.50%, 02/06/57 (Call 08/06/56)		110		155,591
5.20%, 06/01/39		10		14,548


Security	Par (000)		Value

Software (continued)
Oracle Corp.
3.60%, 04/01/40 (Call 10/01/39)	$	2,375	$	2,649,248
3.60%, 04/01/50 (Call 10/01/49)		2,925		3,211,318
3.80%, 11/15/37 (Call 05/15/37)		1,415		1,634,692
3.85%, 07/15/36 (Call 01/15/36)		1,040		1,213,789
3.85%, 04/01/60 (Call 10/01/59)		2,652		3,008,555
3.90%, 05/15/35 (Call 11/15/34)		1,438		1,718,252
4.00%, 07/15/46 (Call 01/15/46)		2,913		3,374,069
4.00%, 11/15/47 (Call 05/15/47)		1,619		1,876,908
4.13%, 05/15/45 (Call 11/15/44)		1,385		1,626,361
4.30%, 07/08/34 (Call 01/08/34)		1,650		2,049,229
4.38%, 05/15/55 (Call 11/15/54)		1,324		1,636,505
4.50%, 07/08/44 (Call 01/08/44)		734		900,696
5.38%, 07/15/40		1,772		2,441,422
6.13%, 07/08/39		1,115		1,656,334
6.50%, 04/15/38^(b)		881		1,357,309


				62,605,728

Telecommunications — 6.7%
America Movil SAB de CV
4.38%, 07/16/42^(b)		753		904,366
4.38%, 04/22/49 (Call 10/22/48)		950		1,163,503
6.13%, 11/15/37^(b)		125		174,386
6.13%, 03/30/40		2,656		3,782,410
6.38%, 03/01/35		400		578,384
AT&T Inc.
2.25%, 02/01/32 (Call 11/01/31)		362		354,858
2.75%, 06/01/31 (Call 03/01/31)		175		181,642
3.10%, 02/01/43 (Call 08/01/42)		1,125		1,075,213
3.30%, 02/01/52 (Call 08/01/51)		2,685		2,459,131
3.50%, 06/01/41 (Call 12/01/40)		1,775		1,799,088
3.50%, 09/15/53 (Call 03/15/53)^(a)		8,747		8,362,387
3.50%, 02/01/61 (Call 08/01/60)^(b)		1,500		1,395,413
3.55%, 09/15/55 (Call 03/15/55)^(a)(b)		9,724		9,211,214
3.65%, 06/01/51 (Call 12/01/50)		2,400		2,342,199
3.65%, 09/15/59 (Call 03/15/59)^(a)		7,444		7,098,525
3.85%, 06/01/60 (Call 12/01/59)		2,586		2,553,343
4.30%, 12/15/42 (Call 06/15/42)		1,260		1,406,139
4.35%, 06/15/45 (Call 12/15/44)		578		640,637
4.50%, 05/15/35 (Call 11/15/34)		3,115		3,633,239
4.50%, 03/09/48 (Call 09/09/47)		2,467		2,761,216
4.55%, 03/09/49 (Call 09/09/48)		25		28,278
4.65%, 06/01/44 (Call 12/01/43)		660		736,399
4.75%, 05/15/46 (Call 11/15/45)^(b)		1,057		1,219,491
4.80%, 06/15/44 (Call 12/15/43)		789		916,684
4.85%, 03/01/39 (Call 09/01/38)		1,506		1,795,483
4.90%, 08/15/37 (Call 02/14/37)		1,155		1,392,820
4.90%, 06/15/42		600		706,404
5.15%, 11/15/46 (Call 05/15/46)		25		30,394
5.25%, 03/01/37 (Call 09/01/36)		125		156,348
5.45%, 03/01/47 (Call 09/01/46)		250		315,204
5.55%, 08/15/41		25		31,626
5.65%, 02/15/47 (Call 08/15/46)		35		45,697
6.15%, 09/15/34		190		251,722
6.45%, 06/15/34		125		167,217
Bell Canada
4.30%, 07/29/49 (Call 01/29/49)		587		717,158
4.46%, 04/01/48 (Call 10/01/47)		984		1,229,163
British Telecommunications PLC
4.25%, 11/08/49 (Call 05/08/49)^(a)		620		714,177
9.63%, 12/15/30		1,802		2,882,354


Security	Par (000)		Value

Telecommunications (continued)
Cisco Systems Inc.
5.50%, 01/15/40	$	564	$	820,883
5.90%, 02/15/39		2,560		3,817,057
Corning Inc.
3.90%, 11/15/49 (Call 05/15/49)		124		143,151
4.38%, 11/15/57 (Call 05/15/57)		501		583,269
4.70%, 03/15/37		265		315,375
4.75%, 03/15/42		661		811,409
5.35%, 11/15/48 (Call 05/15/48)		430		579,851
5.45%, 11/15/79 (Call 05/15/79)		779		982,489
5.75%, 08/15/40		315		410,746
5.85%, 11/15/68 (Call 05/15/68)		50		66,257
7.25%, 08/15/36 (Call 08/15/26)		100		126,187
Deutsche Telekom AG, 3.63%, 01/21/50 (Call 07/21/49)^(a)		1,112		1,227,779
Deutsche Telekom International Finance BV
4.75%, 06/21/38 (Call 12/21/37)^(a)(b)		785		976,376
4.88%, 03/06/42^(a)		670		863,206
9.25%, 06/01/32		596		1,004,305
Juniper Networks Inc., 5.95%, 03/15/41		505		634,468
Motorola Solutions Inc., 5.50%, 09/01/44		610		718,750
Ooredoo International Finance Ltd., 4.50%, 01/31/43^(a)(b)		520		667,098
Orange SA
5.38%, 01/13/42		900		1,245,585
5.50%, 02/06/44 (Call 08/06/43)		1,010		1,441,246
9.00%, 03/01/31		1,058		1,713,627
Rogers Communications Inc.
3.70%, 11/15/49 (Call 05/15/49)		900		994,330
4.30%, 02/15/48 (Call 08/15/47)		790		960,517
4.35%, 05/01/49 (Call 11/01/48)		929		1,129,280
4.50%, 03/15/43 (Call 09/15/42)		495		594,545
5.00%, 03/15/44 (Call 09/15/43)		950		1,222,833
5.45%, 10/01/43 (Call 04/01/43)		221		298,238
7.50%, 08/15/38		240		373,647
SES Global Americas Holdings GP, 5.30%, 03/25/44^(a)		258		267,051
SES SA, 5.30%, 04/04/43^(a)		100		104,096
Telefonica Emisiones SA
4.67%, 03/06/38		1,209		1,385,653
4.90%, 03/06/48		1,315		1,502,374
5.21%, 03/08/47		1,170		1,382,663
5.52%, 03/01/49 (Call 09/01/48)^(b)		1,145		1,418,149
7.05%, 06/20/36		1,745		2,504,744
TELUS Corp.
4.30%, 06/15/49 (Call 12/15/48)		400		477,034
4.60%, 11/16/48 (Call 05/16/48)		788		979,456
T-Mobile USA Inc.
2.25%, 11/15/31 (Call 08/15/31)^(a)		1,000		987,730
2.55%, 02/15/31 (Call 11/15/30)^(a)		25		25,477
3.00%, 02/15/41 (Call 08/15/40)^(a)		2,360		2,288,870
3.30%, 02/15/51 (Call 08/15/50)^(a)		1,240		1,194,666
3.60%, 11/15/60 (Call 05/15/60)^(a)		1,100		1,080,893
4.38%, 04/15/40 (Call 10/15/39)^(a)		1,815		2,099,120
4.50%, 04/15/50 (Call 10/15/49)^(a)		2,562		2,979,183
Verizon Communications Inc.
2.99%, 10/30/56 (Call 04/30/56)^(a)		5,957		6,033,745
3.85%, 11/01/42 (Call 05/01/42)^(b)		1,340		1,586,285
4.00%, 03/22/50 (Call 09/22/49)		2,090		2,518,276
4.13%, 08/15/46^(b)		800		967,765
4.27%, 01/15/36		3,145		3,844,287
4.40%, 11/01/34 (Call 05/01/34)		3,145		3,884,792
4.50%, 08/10/33		3,780		4,697,533


Security	Par (000)		Value

Telecommunications (continued)
4.52%, 09/15/48	$	3,035	$	3,901,943
4.67%, 03/15/55		405		540,188
4.75%, 11/01/41		1,968		2,566,744
4.81%, 03/15/39		1,470		1,908,955
4.86%, 08/21/46		2,352		3,125,606
5.01%, 04/15/49		64		88,535
5.01%, 08/21/54		35		49,021
7.75%, 12/01/30^(b)		125		190,263
Vodafone Group PLC
4.25%, 09/17/50		1,010		1,163,543
4.38%, 02/19/43		1,527		1,800,349
4.88%, 06/19/49		1,426		1,764,736
5.00%, 05/30/38		647		804,435
5.13%, 06/19/59		639		809,365
5.25%, 05/30/48		2,414		3,126,113
6.15%, 02/27/37		903		1,258,669
6.25%, 11/30/32		580		770,385


				158,015,108

Toys, Games & Hobbies — 0.0%
Hasbro Inc.
5.10%, 05/15/44 (Call 11/15/43)^(b)		350		367,435
6.35%, 03/15/40		510		615,249


				982,684

Transportation — 3.4%
Burlington Northern Santa Fe LLC
3.05%, 02/15/51 (Call 08/15/50)		50		54,231
3.55%, 02/15/50 (Call 08/15/49)		100		115,160
3.90%, 08/01/46 (Call 02/01/46)		500		594,726
4.05%, 06/15/48 (Call 12/15/47)		718		881,745
4.13%, 06/15/47 (Call 12/15/46)		74		91,105
4.15%, 04/01/45 (Call 10/01/44)		603		736,160
4.15%, 12/15/48 (Call 06/15/48)		685		852,399
4.38%, 09/01/42 (Call 03/01/42)		710		887,593
4.40%, 03/15/42 (Call 09/15/41)		1,115		1,388,133
4.45%, 03/15/43 (Call 09/15/42)		711		895,238
4.55%, 09/01/44 (Call 03/01/44)		856		1,093,351
4.70%, 09/01/45 (Call 03/01/45)		185		244,219
4.90%, 04/01/44 (Call 10/01/43)		805		1,081,173
4.95%, 09/15/41 (Call 03/15/41)		434		569,885
5.05%, 03/01/41 (Call 09/01/40)^(b)		606		805,813
5.15%, 09/01/43 (Call 03/01/43)		705		959,070
5.40%, 06/01/41 (Call 12/01/40)		515		714,498
5.75%, 05/01/40 (Call 11/01/39)		864		1,224,749
6.15%, 05/01/37		600		880,910
6.20%, 08/15/36		200		292,908
Canadian National Railway Co.
2.45%, 05/01/50 (Call 11/01/49)		565		549,155
3.20%, 08/02/46 (Call 02/02/46)		463		513,061
3.65%, 02/03/48 (Call 08/03/47)		270		321,222
4.45%, 01/20/49 (Call 07/20/48)^(b)		680		911,183
4.50%, 11/07/43 (Call 05/07/43)		50		62,613
6.20%, 06/01/36		805		1,208,127
6.25%, 08/01/34		186		280,013
6.38%, 11/15/37		419		640,805
6.71%, 07/15/36^(b)		425		653,252
Canadian Pacific Railway Co.
4.80%, 09/15/35 (Call 03/15/35)		346		447,443
4.80%, 08/01/45 (Call 02/01/45)		730		963,132
5.75%, 03/15/33^(b)		850		1,075,883


Security	Par (000)		Value

Transportation (continued)
5.95%, 05/15/37	$	381	$	554,852
6.13%, 09/15/2115 (Call 03/15/2115)		477		716,956
7.13%, 10/15/31		253		370,825
CSX Corp.
3.35%, 09/15/49 (Call 03/15/49)^(b)		850		928,294
3.80%, 11/01/46 (Call 05/01/46)		653		744,912
3.80%, 04/15/50 (Call 10/15/49)		160		188,374
3.95%, 05/01/50 (Call 11/01/49)		480		578,250
4.10%, 03/15/44 (Call 09/15/43)		895		1,056,013
4.25%, 11/01/66 (Call 05/01/66)		817		1,000,814
4.30%, 03/01/48 (Call 09/01/47)		341		417,801
4.40%, 03/01/43 (Call 09/01/42)		425		512,441
4.50%, 03/15/49 (Call 09/15/48)		480		613,236
4.50%, 08/01/54 (Call 02/01/54)		318		404,318
4.65%, 03/01/68 (Call 09/01/67)		150		193,037
4.75%, 05/30/42 (Call 11/30/41)		436		551,282
4.75%, 11/15/48 (Call 05/15/48)		410		537,161
5.50%, 04/15/41 (Call 10/15/40)		400		544,856
6.00%, 10/01/36^(b)		524		730,349
6.15%, 05/01/37		523		741,077
6.22%, 04/30/40		697		1,009,671
Empresa de los Ferrocarriles del Estado, 3.07%, 08/18/50 (Call 02/18/50)^(a)(b)		920		855,600
Empresa de Transporte de Pasajeros Metro SA
4.70%, 05/07/50 (Call 11/07/49)^(a)		685		828,165
5.00%, 01/25/47 (Call 07/25/46)^(a)		400		494,000
FedEx Corp.
3.88%, 08/01/42		420		464,378
3.90%, 02/01/35		594		692,433
4.05%, 02/15/48 (Call 08/15/47)		969		1,118,614
4.10%, 04/15/43		352		399,562
4.10%, 02/01/45		508		575,438
4.40%, 01/15/47 (Call 07/15/46)		835		991,737
4.50%, 02/01/65		25		27,636
4.55%, 04/01/46 (Call 10/01/45)		902		1,092,862
4.75%, 11/15/45 (Call 05/15/45)		1,090		1,368,994
4.90%, 01/15/34		655		833,610
4.95%, 10/17/48 (Call 04/17/48)		681		874,922
5.10%, 01/15/44		760		977,596
5.25%, 05/15/50 (Call 11/15/49)		1,034		1,391,632
Kansas City Southern
4.20%, 11/15/69 (Call 05/15/69)		635		686,438
4.30%, 05/15/43 (Call 11/15/42)		560		593,790
4.70%, 05/01/48 (Call 11/01/47)		108		124,478
4.95%, 08/15/45 (Call 02/15/45)^(b)		270		309,499
Norfolk Southern Corp.
3.05%, 05/15/50 (Call 11/15/49)		1,196		1,237,477
3.16%, 05/15/55 (Call 11/15/54)		655		676,472
3.40%, 11/01/49 (Call 05/01/49)		50		55,025
3.94%, 11/01/47 (Call 05/01/47)		643		751,170
3.95%, 10/01/42 (Call 04/01/42)		440		508,516
4.05%, 08/15/52 (Call 02/15/52)		1,093		1,323,953
4.10%, 05/15/49 (Call 11/15/48)^(b)		420		509,553
4.15%, 02/28/48 (Call 08/28/47)^(b)		655		797,414
4.45%, 06/15/45 (Call 12/15/44)		460		574,657
4.65%, 01/15/46 (Call 07/15/45)		520		666,289
4.84%, 10/01/41		845		1,090,617
Pelabuhan Indonesia II PT, 5.38%, 05/05/45^(a)		415		479,844
Polar Tankers Inc., 5.95%, 05/10/37^(a)(b)		30		37,709



Security	Par (000)		Value

Transportation (continued)
TTX Co.
4.20%, 07/01/46 (Call 01/01/46)^(a)	$	250	$	296,697
4.60%, 02/01/49 (Call 08/01/48)^(a)		250		318,207
Union Pacific Corp.
2.97%, 09/16/62 (Call 03/16/62)		750		726,851
3.25%, 02/05/50 (Call 08/05/49)		1,467		1,589,779
3.35%, 08/15/46 (Call 02/15/46)^(b)		495		539,620
3.38%, 02/01/35 (Call 08/01/34)^(b)		825		936,177
3.55%, 08/15/39 (Call 02/15/39)		940		1,055,619
3.60%, 09/15/37 (Call 03/15/37)		737		832,393
3.75%, 02/05/70 (Call 08/05/69)		100		109,514
3.80%, 10/01/51 (Call 04/01/51)		1,218		1,420,123
3.84%, 03/20/60 (Call 09/20/59)		243		274,650
3.88%, 02/01/55 (Call 08/01/54)		395		463,501
3.95%, 08/15/59 (Call 02/15/59)		125		143,621
4.00%, 04/15/47 (Call 10/15/46)^(b)		205		242,911
4.05%, 11/15/45 (Call 05/15/45)^(b)		600		709,886
4.05%, 03/01/46 (Call 09/01/45)		595		711,767
4.10%, 09/15/67 (Call 03/15/67)		648		747,608
4.15%, 01/15/45 (Call 07/15/44)		205		245,571
4.30%, 03/01/49 (Call 09/01/48)		988		1,237,614
4.38%, 09/10/38 (Call 03/10/38)		1,159		1,418,898
4.38%, 11/15/65 (Call 05/15/65)		471		570,752
4.50%, 09/10/48 (Call 03/10/48)		460		598,545
United Parcel Service Inc.
3.40%, 11/15/46 (Call 05/15/46)		205		228,598
3.40%, 09/01/49 (Call 03/01/49)		900		1,026,382
3.63%, 10/01/42		445		507,630
3.75%, 11/15/47 (Call 05/15/47)		1,052		1,264,101
4.25%, 03/15/49 (Call 09/15/48)		730		927,100
4.88%, 11/15/40 (Call 05/15/40)		430		569,797
5.20%, 04/01/40 (Call 10/01/39)		270		367,361
5.30%, 04/01/50 (Call 10/01/49)		418		601,850
6.20%, 01/15/38		1,560		2,339,525


				80,816,202

Trucking & Leasing — 0.0%
GATX Corp.
4.50%, 03/30/45 (Call 09/30/44)^(b)		200		220,716
5.20%, 03/15/44 (Call 09/15/43)		234		291,470


				512,186

Water — 0.2%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		600		698,893
4.00%, 12/01/46 (Call 06/01/46)		285		342,809


Security	Par/ Shares (000)		Value

Water (continued)
4.15%, 06/01/49 (Call 12/01/48)	$	435	$	538,052
4.20%, 09/01/48 (Call 03/01/48)^(b)		749		928,544
4.30%, 12/01/42 (Call 06/01/42)		226		276,196
4.30%, 09/01/45 (Call 03/01/45)		445		552,959
6.59%, 10/15/37		432		653,022
Essential Utilities Inc.
3.35%, 04/15/50 (Call 10/15/49)		489		513,162
4.28%, 05/01/49 (Call 11/01/48)		335		405,650
Veolia Environnement SA, 6.75%, 06/01/38		118		168,028


				5,077,315


Total Corporate Bonds & Notes — 96.4% (Cost: $2,178,909,971)				2,276,604,954


Short-Term Investments

Money Market Funds — 7.3%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.20%^(f)(g)(h)		114,884		114,964,071
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(f)(g)		57,087		57,087,000


				172,051,071


Total Short-Term Investments — 7.3% (Cost: $171,981,907)				172,051,071


Total Investments in Securities — 103.7% (Cost: $2,350,891,878)				2,448,656,025

Other Assets, Less Liabilities — (3.7)%				(87,576,393	)


Net Assets — 100.0%			$	2,361,079,632

^(a)	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

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

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

^(e)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^(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 cash collateral received from loaned securities.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.0%
Interpublic Group of Companies Inc. (The), 5.40%, 10/01/48 (Call 04/01/48)	$	170	$	227,421


Aerospace & Defense — 1.9%
BAE Systems Holdings Inc., 4.75%, 10/07/44^(a)		465		592,487
BAE Systems PLC, 5.80%, 10/11/41^(a)		25		35,260
Boeing Co. (The)
3.25%, 02/01/35 (Call 11/01/34)		425		452,846
3.30%, 03/01/35 (Call 09/01/34)		25		25,984
3.38%, 06/15/46 (Call 12/15/45)		205		209,593
3.50%, 03/01/39 (Call 09/01/38)^(b)		495		526,151
3.50%, 03/01/45 (Call 09/01/44)		759		774,142
3.55%, 03/01/38 (Call 09/01/37)		280		310,257
3.60%, 05/01/34 (Call 02/01/34)		1,375		1,518,796
3.65%, 03/01/47 (Call 09/01/46)		225		239,336
3.75%, 02/01/50 (Call 08/01/49)^(b)		835		925,366
3.83%, 03/01/59 (Call 09/01/58)		550		594,794
3.85%, 11/01/48 (Call 05/01/48)		685		755,709
3.90%, 05/01/49 (Call 11/01/48)		450		497,187
3.95%, 08/01/59 (Call 02/01/59)		790		878,454
5.88%, 02/15/40		225		301,947
6.13%, 02/15/33		50		67,858
6.63%, 02/15/38		156		227,049
6.88%, 03/15/39		637		949,985
General Dynamics Corp., 3.60%, 11/15/42 (Call 05/14/42)		380		461,284
L3Harris Technologies Inc.
4.85%, 04/27/35 (Call 10/27/34)		550		682,873
5.05%, 04/27/45 (Call 10/27/44)		400		523,834
6.15%, 12/15/40		130		189,496
Lockheed Martin Corp.
3.60%, 03/01/35 (Call 09/01/34)^(b)		524		611,536
3.80%, 03/01/45 (Call 09/01/44)		1,051		1,249,626
4.07%, 12/15/42^(b)		805		993,769
4.09%, 09/15/52 (Call 03/15/52)		1,350		1,735,454
4.50%, 05/15/36 (Call 11/15/35)		735		931,940
4.70%, 05/15/46 (Call 11/15/45)		1,383		1,862,920
5.72%, 06/01/40		50		71,355
Series B, 6.15%, 09/01/36		175		253,692
Northrop Grumman Corp.
3.85%, 04/15/45 (Call 10/15/44)		625		711,052
4.03%, 10/15/47 (Call 04/15/47)		1,684		2,016,528
4.75%, 06/01/43		840		1,089,533
5.05%, 11/15/40		300		390,988
Northrop Grumman Systems Corp., 7.75%, 02/15/31		777		1,154,910
Raytheon Co.
4.20%, 12/15/44 (Call 06/15/44)		100		129,490
4.70%, 12/15/41		200		270,689
4.88%, 10/15/40		392		540,169
Rockwell Collins Inc.
4.35%, 04/15/47 (Call 10/15/46)		1,170		1,502,663
4.80%, 12/15/43 (Call 06/15/43)		380		499,675
United Technologies Corp.
3.75%, 11/01/46 (Call 05/01/46)		960		1,103,919
4.05%, 05/04/47 (Call 11/04/46)		335		411,001
4.15%, 05/15/45 (Call 11/16/44)		1,350		1,634,615
4.45%, 11/16/38 (Call 05/16/38)		749		937,720
4.50%, 06/01/42		1,680		2,155,478
4.63%, 11/16/48 (Call 05/16/48)		1,271		1,705,206
5.40%, 05/01/35		1,121		1,527,260


Security	Par (000)		Value

Aerospace & Defense (continued)
5.70%, 04/15/40	$	906	$	1,322,897
6.05%, 06/01/36		230		328,791
6.13%, 07/15/38		990		1,473,614


				40,357,178

Agriculture — 1.4%
Altria Group Inc.
3.88%, 09/16/46 (Call 03/16/46)		1,486		1,453,113
4.25%, 08/09/42		1,175		1,201,449
4.50%, 05/02/43		1,675		1,750,868
5.38%, 01/31/44		1,667		1,965,074
5.80%, 02/14/39 (Call 08/14/38)		585		717,652
5.95%, 02/14/49 (Call 08/14/48)^(b)		1,390		1,766,989
6.20%, 02/14/59 (Call 08/14/58)		430		562,649
Archer-Daniels-Midland Co.
3.75%, 09/15/47 (Call 03/15/47)		415		486,798
4.02%, 04/16/43		839		1,028,852
4.50%, 03/15/49 (Call 09/15/48)		905		1,226,670
4.54%, 03/26/42		1,063		1,362,239
5.38%, 09/15/35		55		74,837
BAT Capital Corp.
4.39%, 08/15/37 (Call 02/15/37)		2,150		2,277,605
4.54%, 08/15/47 (Call 02/15/47)		1,880		1,956,907
4.76%, 09/06/49 (Call 03/06/49)		305		329,370
Cargill Inc., 3.88%, 05/23/49 (Call 11/23/48)^(a)		780		977,708
Philip Morris International Inc.
3.88%, 08/21/42		509		556,881
4.13%, 03/04/43		421		478,051
4.25%, 11/10/44		730		844,629
4.38%, 11/15/41		842		974,336
4.50%, 03/20/42		420		493,817
4.88%, 11/15/43		530		662,072
6.38%, 05/16/38		1,295		1,869,307
Reynolds American Inc.
5.70%, 08/15/35 (Call 02/15/35)		1,248		1,487,211
5.85%, 08/15/45 (Call 02/12/45)		1,840		2,199,390
6.15%, 09/15/43		475		572,598
7.25%, 06/15/37		825		1,091,559


				30,368,631

Apparel — 0.1%
NIKE Inc.
3.38%, 11/01/46 (Call 05/01/46)		300		344,887
3.63%, 05/01/43 (Call 11/01/42)		520		592,512
3.88%, 11/01/45 (Call 05/01/45)		755		929,644


				1,867,043

Auto Manufacturers — 0.7%
Cummins Inc., 4.88%, 10/01/43 (Call 04/01/43)^(b)		375		497,390
Daimler Finance North America LLC, 8.50%, 01/18/31		1,851		2,857,720
Ford Holdings LLC, 9.30%, 03/01/30		271		356,921
Ford Motor Co.
4.75%, 01/15/43		1,900		1,634,230
5.29%, 12/08/46 (Call 06/08/46)^(b)		845		774,209
7.40%, 11/01/46^(b)		519		575,230
7.45%, 07/16/31		1,195		1,356,330
General Motors Co.
5.00%, 04/01/35		933		973,036
5.15%, 04/01/38 (Call 10/01/37)		638		650,497
5.20%, 04/01/45		965		963,125
5.40%, 04/01/48 (Call 10/01/47)		610		615,142
5.95%, 04/01/49 (Call 10/01/48)		889		969,678


Security	Par (000)		Value

Auto Manufacturers (continued)
6.25%, 10/02/43	$	852	$	959,005
6.60%, 04/01/36 (Call 10/01/35)		1,175		1,422,064
6.75%, 04/01/46 (Call 10/01/45)^(b)		580		680,086


				15,284,663

Auto Parts & Equipment — 0.1%
Aptiv PLC
4.40%, 10/01/46 (Call 04/01/46)		100		109,553
5.40%, 03/15/49 (Call 09/15/48)		406		491,034
BorgWarner Inc., 4.38%, 03/15/45 (Call 09/15/44)		295		324,417
Lear Corp., 5.25%, 05/15/49 (Call 11/15/48)^(b)		600		629,871


				1,554,875

Banks — 7.5%
Bank of America Corp.
3.95%, 01/23/49 (Call 01/23/48)^(c)		1,205		1,455,796
4.08%, 04/23/40 (Call 04/23/39)^(c)		1,325		1,550,553
4.24%, 04/24/38 (Call 04/24/37)^(c)		1,401		1,655,091
4.33%, 03/15/50 (Call 03/15/49)^(b)(c)		1,784		2,277,673
4.44%, 01/20/48 (Call 01/20/47)^(b)(c)		1,234		1,584,329
4.88%, 04/01/44		895		1,181,293
5.00%, 01/21/44		2,087		2,827,960
5.88%, 02/07/42		853		1,254,710
6.11%, 01/29/37		1,530		2,105,386
7.75%, 05/14/38		1,115		1,804,990
Series L, 4.75%, 04/21/45		593		764,681
Bank of America N.A., 6.00%, 10/15/36		2,000		2,806,577
Barclays PLC
4.95%, 01/10/47		1,660		2,070,729
5.25%, 08/17/45		1,190		1,511,728
BNP Paribas SA, 7.20%, (Call 06/25/37)^(a)(b)(c)(d)		545		604,950
Citigroup Inc.
3.88%, 01/24/39 (Call 01/22/38)^(c)		533		620,557
4.28%, 04/24/48 (Call 10/24/47)^(c)		1,263		1,571,339
4.65%, 07/30/45		1,200		1,567,743
4.65%, 07/23/48 (Call 06/23/48)		2,024		2,686,302
4.75%, 05/18/46		1,905		2,390,909
5.30%, 05/06/44		865		1,147,256
5.88%, 02/22/33		325		435,877
5.88%, 01/30/42		797		1,183,990
6.00%, 10/31/33		523		713,348
6.13%, 08/25/36		482		670,085
6.63%, 06/15/32		767		1,075,310
6.68%, 09/13/43		605		934,871
6.88%, 03/05/38		110		162,569
6.88%, 02/15/98^(b)		180		286,036
8.13%, 07/15/39		1,635		2,830,543
Commonwealth Bank of Australia
3.74%, 09/12/39^(a)(b)		495		533,981
3.90%, 07/12/47^(a)		829		985,775
4.32%, 01/10/48^(a)		1,105		1,277,667
Cooperatieve Rabobank UA
5.25%, 05/24/41		1,323		1,901,810
5.25%, 08/04/45		1,501		1,986,440
5.75%, 12/01/43		1,205		1,684,939
5.80%, 09/30/2110^(a)		100		174,470
Credit Suisse Group Funding Guernsey Ltd., 4.88%, 05/15/45		1,856		2,423,189
Fifth Third Bancorp., 8.25%, 03/01/38		941		1,568,682


Security	Par (000)		Value

Banks (continued)
First Republic Bank/CA
4.38%, 08/01/46 (Call 02/01/46)	$	350	$	434,090
4.63%, 02/13/47 (Call 08/13/46)		495		634,282
Goldman Sachs Group Inc. (The)
4.02%, 10/31/38 (Call 10/31/37)^(c)		1,610		1,827,397
4.41%, 04/23/39 (Call 04/23/38)^(c)		1,870		2,214,741
4.75%, 10/21/45 (Call 04/21/45)		1,584		2,023,522
4.80%, 07/08/44 (Call 01/08/44)		1,645		2,101,775
5.15%, 05/22/45		1,255		1,615,397
6.13%, 02/15/33		775		1,073,264
6.25%, 02/01/41		2,250		3,305,257
6.45%, 05/01/36		230		314,036
6.75%, 10/01/37		4,275		6,066,879
HSBC Bank USA N.A., 7.00%, 01/15/39		265		397,669
HSBC Holdings PLC
5.25%, 03/14/44		720		912,439
6.10%, 01/14/42		978		1,413,822
6.50%, 05/02/36		2,710		3,714,502
6.50%, 09/15/37		1,620		2,251,167
6.80%, 06/01/38		1,630		2,343,351
7.63%, 05/17/32		446		622,382
HSBC USA Inc., 7.20%, 07/15/97^(b)		60		99,757
JPMorgan Chase & Co.
3.88%, 07/24/38 (Call 07/24/37)^(c)		2,515		2,874,239
3.90%, 01/23/49 (Call 01/23/48)^(c)		1,605		1,911,620
3.96%, 11/15/48 (Call 11/15/47)^(c)		2,717		3,253,222
4.03%, 07/24/48 (Call 07/24/47)^(b)(c)		990		1,201,159
4.26%, 02/22/48 (Call 02/22/47)^(c)		1,180		1,496,167
4.85%, 02/01/44^(b)		645		857,555
4.95%, 06/01/45^(b)		1,140		1,519,830
5.40%, 01/06/42		1,180		1,641,591
5.50%, 10/15/40		1,040		1,442,390
5.60%, 07/15/41		2,425		3,434,443
5.63%, 08/16/43^(b)		968		1,361,742
6.40%, 05/15/38^(b)		1,865		2,767,428
8.75%, 09/01/30		50		77,175
Lloyds Banking Group PLC
4.34%, 01/09/48^(b)		1,435		1,624,494
5.30%, 12/01/45		685		884,181
Mitsubishi UFJ Financial Group Inc.
3.75%, 07/18/39		625		729,271
4.15%, 03/07/39		895		1,101,808
4.29%, 07/26/38		1,225		1,509,571
Morgan Stanley
3.97%, 07/22/38 (Call 07/22/37)^(c)		856		990,821
4.30%, 01/27/45		1,479		1,825,060
4.38%, 01/22/47		2,520		3,181,836
4.46%, 04/22/39 (Call 04/22/38)^(c)		635		779,059
6.38%, 07/24/42		1,564		2,412,694
7.25%, 04/01/32		1,183		1,756,600
Regions Bank/Birmingham AL, 6.45%, 06/26/37		460		648,836
Regions Financial Corp., 7.38%, 12/10/37		490		720,119
Santander UK Group Holdings PLC, 5.63%, 09/15/45^(a)		495		640,251
Societe Generale SA, 5.63%, 11/24/45^(a)		115		152,345
Standard Chartered PLC
5.30%, 01/09/43^(a)(b)		485		602,715
5.70%, 03/26/44^(a)		1,950		2,536,705
UBS AG/London, 4.50%, 06/26/48^(a)		870		1,161,488
Wachovia Corp. 5.50%, 08/01/35		1,142		1,514,580


Security	Par (000)		Value

Banks (continued)
6.55%, 10/15/35^(b)	$	260	$	364,055
7.50%, 04/15/35		125		186,739
Wells Fargo & Co.
3.90%, 05/01/45		1,887		2,235,621
4.40%, 06/14/46		1,286		1,524,080
4.65%, 11/04/44^(b)		1,501		1,831,856
4.75%, 12/07/46		1,485		1,873,011
4.90%, 11/17/45		1,840		2,334,738
5.38%, 02/07/35		385		523,424
5.38%, 11/02/43^(b)		1,365		1,797,140
5.61%, 01/15/44		2,010		2,733,823
Wells Fargo Bank N.A.
5.85%, 02/01/37		650		897,910
5.95%, 08/26/36		570		791,752
6.60%, 01/15/38		1,145		1,739,646
Wells Fargo Capital X, 5.95%, 12/01/86		668		871,789
Westpac Banking Corp., 4.42%, 07/24/39		1,112		1,299,640


				159,252,082

Beverages — 3.0%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
4.70%, 02/01/36 (Call 08/01/35)		4,267		5,111,194
4.90%, 02/01/46 (Call 08/01/45)^(b)		7,355		9,067,597
Anheuser-Busch InBev Finance Inc.
4.00%, 01/17/43		958		1,057,467
4.63%, 02/01/44^(b)		1,277		1,533,472
4.70%, 02/01/36 (Call 08/01/35)^(b)		600		716,753
4.90%, 02/01/46 (Call 08/01/45)^(b)		1,399		1,711,431
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42		735		789,573
4.38%, 04/15/38 (Call 10/15/37)		620		717,842
4.44%, 10/06/48 (Call 04/06/48)		1,375		1,606,292
4.60%, 04/15/48 (Call 10/15/47)		1,783		2,140,170
4.75%, 04/15/58 (Call 10/15/57)^(b)		1,075		1,304,606
4.90%, 01/23/31 (Call 10/23/30)^(b)		1,198		1,459,548
4.95%, 01/15/42		835		1,047,710
5.45%, 01/23/39 (Call 07/23/38)		1,395		1,822,072
5.55%, 01/23/49 (Call 07/23/48)^(b)		3,985		5,415,331
5.80%, 01/23/59 (Call 07/23/58)		1,560		2,216,171
8.00%, 11/15/39		325		527,815
8.20%, 01/15/39		807		1,333,146
Bacardi Ltd.
5.15%, 05/15/38 (Call 11/15/37)^(a)		300		363,115
5.30%, 05/15/48 (Call 11/15/47)^(a)(b)		475		612,487
Brown-Forman Corp.
4.00%, 04/15/38 (Call 10/15/37)		140		170,591
4.50%, 07/15/45 (Call 01/15/45)		213		289,932
Coca-Cola FEMSA SAB de CV, 5.25%, 11/26/43		306		418,072
Constellation Brands Inc.
4.10%, 02/15/48 (Call 08/15/47)		595		670,146
4.50%, 05/09/47 (Call 11/09/46)		550		655,152
5.25%, 11/15/48 (Call 05/15/48)		503		656,096
Diageo Capital PLC
3.88%, 04/29/43 (Call 10/29/42)		735		913,577
5.88%, 09/30/36^(b)		535		779,608
Diageo Investment Corp.
4.25%, 05/11/42		1,020		1,301,096
7.45%, 04/15/35		11		17,890


Security	Par (000)		Value

Beverages (continued)
Fomento Economico Mexicano SAB de CV
3.50%, 01/16/50 (Call 07/16/49)	$	1,000	$	1,048,400
4.38%, 05/10/43		330		398,372
Heineken NV
4.00%, 10/01/42^(a)		540		641,949
4.35%, 03/29/47 (Call 09/29/46)^(a)(b)		120		149,844
Keurig Dr Pepper Inc.
4.42%, 12/15/46 (Call 06/15/46)		525		613,622
4.50%, 11/15/45 (Call 08/15/45)^(b)		385		448,256
4.99%, 05/25/38 (Call 11/25/37)		770		942,294
5.09%, 05/25/48 (Call 11/25/47)		475		604,594
Molson Coors Beverage Co.
4.20%, 07/15/46 (Call 01/15/46)		1,577		1,636,525
5.00%, 05/01/42		800		906,096
PepsiCo Inc.
2.88%, 10/15/49 (Call 04/15/49)		1,050		1,110,358
3.38%, 07/29/49 (Call 01/29/49)		1,125		1,286,545
3.45%, 10/06/46 (Call 04/06/46)		1,525		1,743,587
3.60%, 08/13/42		405		471,313
4.00%, 03/05/42		492		588,018
4.00%, 05/02/47 (Call 11/02/46)^(b)		695		866,927
4.25%, 10/22/44 (Call 04/22/44)		671		840,417
4.45%, 04/14/46 (Call 10/14/45)^(b)		829		1,087,491
4.60%, 07/17/45 (Call 01/17/45)		460		605,448
Pernod Ricard SA, 5.50%, 01/15/42^(a)		250		339,897


				62,755,905

Biotechnology — 1.3%
Amgen Inc.
3.15%, 02/21/40 (Call 08/21/39)		1,700		1,737,050
3.38%, 02/21/50 (Call 08/21/49)		790		803,173
4.40%, 05/01/45 (Call 11/01/44)		2,080		2,409,224
4.56%, 06/15/48 (Call 12/15/47)		1,520		1,809,653
4.66%, 06/15/51 (Call 12/15/50)		3,170		3,924,930
4.95%, 10/01/41		341		433,269
5.15%, 11/15/41 (Call 05/15/41)		670		871,854
5.65%, 06/15/42 (Call 12/15/41)		140		188,036
5.75%, 03/15/40^(b)		220		294,602
6.38%, 06/01/37^(b)		315		451,053
6.40%, 02/01/39		125		179,407
6.90%, 06/01/38		75		111,019
Baxalta Inc., 5.25%, 06/23/45 (Call 12/23/44)^(b)		354		499,857
Biogen Inc., 5.20%, 09/15/45 (Call 03/15/45)		1,870		2,421,500
Gilead Sciences Inc.
4.00%, 09/01/36 (Call 03/01/36)		415		487,896
4.15%, 03/01/47 (Call 09/01/46)^(b)		1,645		1,985,194
4.50%, 02/01/45 (Call 08/01/44)		1,146		1,407,827
4.60%, 09/01/35 (Call 03/01/35)		1,085		1,354,972
4.75%, 03/01/46 (Call 09/01/45)		2,053		2,647,729
4.80%, 04/01/44 (Call 10/01/43)		1,495		1,919,627
5.65%, 12/01/41 (Call 06/01/41)		980		1,392,183


				27,330,055

Building Materials — 0.5%
Carrier Global Corp.
3.38%, 04/05/40 (Call 10/05/39)^(a)		1,000		1,027,921
3.58%, 04/05/50 (Call 10/05/49)^(a)		500		515,124
CRH America Finance Inc.
4.40%, 05/09/47 (Call 11/09/46)^(a)		100		119,619
4.50%, 04/04/48 (Call 10/04/47)^(a)		751		911,795


Security	Par (000)		Value

Building Materials (continued)
Johnson Controls International PLC
4.50%, 02/15/47 (Call 08/15/46)	$	488	$	604,352
4.63%, 07/02/44 (Call 01/02/44)		577		709,564
4.95%, 07/02/64 (Call 01/02/64)^(e)		515		619,829
5.13%, 09/14/45 (Call 03/14/45)		43		56,319
6.00%, 01/15/36		135		178,462
Martin Marietta Materials Inc., 4.25%, 12/15/47 (Call 06/15/47)		745		838,286
Masco Corp., 4.50%, 05/15/47 (Call 11/15/46)		545		620,099
Owens Corning
4.30%, 07/15/47 (Call 01/15/47)		377		419,235
4.40%, 01/30/48 (Call 07/30/47)		279		302,532
7.00%, 12/01/36		249		338,183
Votorantim Cimentos SA, 7.25%, 04/05/41^(a)		500		643,750
Vulcan Materials Co.
4.50%, 06/15/47 (Call 12/15/46)		815		959,968
4.70%, 03/01/48 (Call 09/01/47)		605		747,951


				9,612,989

Chemicals — 1.6%
Albemarle Corp., 5.45%, 12/01/44 (Call 06/01/44)		558		708,257
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)^(a)		200		231,250
Braskem Netherlands Finance BV, 5.88%, 01/31/50^(a)(b)		1,400		1,374,380
Dow Chemical Co. (The)
4.25%, 10/01/34 (Call 04/01/34)		1,859		2,071,946
4.38%, 11/15/42 (Call 05/15/42)		633		699,990
4.63%, 10/01/44 (Call 04/01/44)		390		455,741
4.80%, 05/15/49 (Call 11/15/48)		885		1,043,695
5.25%, 11/15/41 (Call 08/15/41)		419		510,044
5.55%, 11/30/48 (Call 05/30/48)^(b)		515		652,606
9.40%, 05/15/39		346		590,324
DuPont de Nemours Inc.
5.32%, 11/15/38 (Call 05/15/38)		805		981,794
5.42%, 11/15/48 (Call 05/15/48)		2,345		2,953,410
Eastman Chemical Co.
4.65%, 10/15/44 (Call 04/15/44)		889		1,037,741
4.80%, 09/01/42 (Call 03/01/42)		428		504,357
Ecolab Inc.
3.70%, 11/01/46 (Call 05/01/46)		175		201,896
3.95%, 12/01/47 (Call 06/01/47)^(b)		720		890,490
5.50%, 12/08/41		278		394,206
FMC Corp., 4.50%, 10/01/49 (Call 04/01/49)^(b)		490		595,352
International Flavors & Fragrances Inc.
4.38%, 06/01/47 (Call 12/01/46)		275		294,032
5.00%, 09/26/48 (Call 03/26/48)^(b)		345		405,979
Lubrizol Corp. (The), 6.50%, 10/01/34		350		529,589
LYB International Finance BV
4.88%, 03/15/44 (Call 09/15/43)		990		1,159,167
5.25%, 07/15/43		885		1,082,310
LYB International Finance III LLC, 4.20%, 10/15/49 (Call 04/15/49)		365		386,853
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)^(b)		973		1,087,316
Methanex Corp., 5.65%, 12/01/44 (Call 06/01/44)		450		471,291
Mosaic Co. (The)
4.88%, 11/15/41 (Call 05/15/41)		230		248,439
5.45%, 11/15/33 (Call 05/15/33)		393		457,237
5.63%, 11/15/43 (Call 05/15/43)		805		961,105
Nutrien Ltd.
4.13%, 03/15/35 (Call 09/15/34)		1,037		1,153,215


Security	Par (000)		Value

Chemicals (continued)
4.90%, 06/01/43 (Call 12/01/42)	$	745	$	863,478
5.00%, 04/01/49 (Call 10/01/48)		698		867,984
5.25%, 01/15/45 (Call 07/15/44)		229		287,174
5.63%, 12/01/40		390		500,395
5.88%, 12/01/36		241		311,173
6.13%, 01/15/41 (Call 07/15/40)		650		865,745
7.13%, 05/23/36		18		24,924
OCP SA, 6.88%, 04/25/44^(a)		200		263,437
Orbia Advance Corp. SAB de CV, 5.88%, 09/17/44^(a)		900		1,033,875
Praxair Inc., 3.55%, 11/07/42 (Call 05/07/42)		1,020		1,158,100
RPM International Inc., 4.25%, 01/15/48 (Call 07/15/47)		560		616,339
Sherwin-Williams Co. (The)
3.80%, 08/15/49 (Call 02/15/49)		435		476,013
4.00%, 12/15/42 (Call 06/15/42)		315		359,571
4.50%, 06/01/47 (Call 12/01/46)^(b)		490		594,839
4.55%, 08/01/45 (Call 02/01/45)		95		114,081
Syngenta Finance NV, 5.68%, 04/24/48 (Call 10/24/47)^(a)(b)		775		883,412
Westlake Chemical Corp.
4.38%, 11/15/47 (Call 05/15/47)		660		716,662
5.00%, 08/15/46 (Call 02/15/46)		780		921,447


				34,992,661

Commercial Services — 1.2%
American University (The), Series 2019, 3.67%, 04/01/49		500		590,201
California Institute of Technology
4.32%, 08/01/45		12		16,134
4.70%, 11/01/2111		145		212,618
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114		200		296,596
DP World PLC
4.70%, 09/30/49 (Call 03/30/49)^(a)		500		490,000
5.63%, 09/25/48^(a)		1,500		1,681,406
6.85%, 07/02/37^(a)		850		1,071,000
Duke University, 3.30%, 10/01/46		25		28,701
Equifax Inc., 7.00%, 07/01/37		210		292,678
ERAC USA Finance LLC
4.20%, 11/01/46 (Call 05/01/46)^(a)(b)		50		56,805
5.63%, 03/15/42^(a)		65		88,116
7.00%, 10/15/37^(a)(b)		2,124		3,203,729
George Washington University (The) 4.87%, 09/15/45		16		22,615
Series 2018, 4.13%, 09/15/48 (Call 03/15/48)		998		1,278,570
Georgetown University (The)
Series 20A, 2.94%, 04/01/50		173		179,155
Series A, 5.22%, 10/01/2118 (Call 04/01/2118)		75		114,680
Global Payments Inc., 4.15%, 08/15/49 (Call 02/15/49)		805		924,479
Johns Hopkins University, Series 2013, 4.08%, 07/01/53		36		48,734
Leland Stanford Junior University (The), 3.65%, 05/01/48 (Call 11/01/47)		503		643,395
Massachusetts Institute of Technology
3.89%, 07/01/2116		100		134,123
3.96%, 07/01/38^(b)		59		72,932
4.68%, 07/01/2114		325		511,782
5.60%, 07/01/2111		600		1,100,629
Series F, 2.99%, 07/01/50 (Call 01/01/50)		1,920		2,138,843
Moody’s Corp.
4.88%, 12/17/48 (Call 06/17/48)		211		281,951
5.25%, 07/15/44		525		717,637
Northwestern University
4.64%, 12/01/44		355		492,325
Series 2017, 3.66%, 12/01/57 (Call 06/01/57)		55		70,615


Security	Par (000)		Value

Commercial Services (continued)
President and Fellows of Harvard College
3.15%, 07/15/46 (Call 01/15/46)	$	500	$	575,482
3.30%, 07/15/56 (Call 01/15/56)		385		462,819
3.62%, 10/01/37		46		54,462
4.88%, 10/15/40		200		283,959
Princeton University, 5.70%, 03/01/39		515		775,046
S&P Global Inc.
3.25%, 12/01/49 (Call 06/01/49)		575		648,176
4.50%, 05/15/48 (Call 11/15/47)		275		368,782
Trustees of Boston College, 3.13%, 07/01/52^(b)		530		602,070
Trustees of Boston University, Series CC, 4.06%, 10/01/48 (Call 04/01/48)		130		170,113
Trustees of Dartmouth College, 3.47%, 06/01/46^(b)		260		310,133
Trustees of the University of Pennsylvania (The), 3.61%, 02/15/2119 (Call 08/15/2118)		405		500,218
Tufts University, Series 2012, 5.02%, 04/15/2112		100		150,499
University of Notre Dame du Lac
Series 2015, 3.44%, 02/15/45		139		165,313
Series 2017, 3.39%, 02/15/48 (Call 08/15/47)		1,150		1,366,581
University of Southern California
2.81%, 10/01/50 (Call 04/01/50)		334		355,770
3.03%, 10/01/39		1,161		1,292,162
5.25%, 10/01/2111		250		422,984
Series 2017, 3.84%, 10/01/47 (Call 04/01/47)		100		128,632
Verisk Analytics Inc., 5.50%, 06/15/45 (Call 12/15/44)		186		249,764
Wesleyan University, 4.78%, 07/01/2116		125		175,356
William Marsh Rice University
3.57%, 05/15/45		331		393,279
3.77%, 05/15/55		125		159,631


				26,371,680

Computers — 1.8%
Apple Inc.
3.45%, 02/09/45		2,094		2,360,696
3.75%, 09/12/47 (Call 03/12/47)		1,780		2,101,691
3.75%, 11/13/47 (Call 05/13/47)		1,460		1,727,566
3.85%, 05/04/43		1,690		2,022,069
3.85%, 08/04/46 (Call 02/04/46)		2,045		2,439,832
4.25%, 02/09/47 (Call 08/09/46)^(b)		1,165		1,479,324
4.38%, 05/13/45		1,985		2,535,199
4.45%, 05/06/44		670		863,728
4.50%, 02/23/36 (Call 08/23/35)		1,280		1,629,958
4.65%, 02/23/46 (Call 08/23/45)^(b)		1,799		2,396,713
Dell International LLC/EMC Corp.
8.10%, 07/15/36 (Call 01/15/36)^(a)		1,626		2,231,391
8.35%, 07/15/46 (Call 01/15/46)^(a)		1,150		1,567,098
Hewlett Packard Enterprise Co.
6.20%, 10/15/35 (Call 04/15/35)		1,165		1,457,503
6.35%, 10/15/45 (Call 04/15/45)		910		1,137,782
HP Inc., 6.00%, 09/15/41		604		692,449
International Business Machines Corp.
4.00%, 06/20/42		1,540		1,828,932
4.15%, 05/15/39		3,050		3,687,296
4.25%, 05/15/49^(b)		1,680		2,094,962
4.70%, 02/19/46		845		1,114,216
5.60%, 11/30/39		615		872,315
5.88%, 11/29/32		356		492,824
7.13%, 12/01/96^(b)		95		164,441
Seagate HDD Cayman, 5.75%, 12/01/34 (Call 06/01/34)		805		842,342


				37,740,327


Security	Par (000)		Value

Cosmetics & Personal Care — 0.3%
Colgate-Palmolive Co.
3.70%, 08/01/47 (Call 02/01/47)	$	270	$	340,247
4.00%, 08/15/45		330		433,009
Estee Lauder Companies Inc. (The)
3.13%, 12/01/49 (Call 06/01/49)		920		986,850
3.70%, 08/15/42		50		56,900
4.15%, 03/15/47 (Call 09/15/46)		200		252,209
4.38%, 06/15/45 (Call 12/15/44)		535		681,470
6.00%, 05/15/37		255		368,746
Procter & Gamble Co. (The)
3.50%, 10/25/47		525		649,365
5.50%, 02/01/34		495		705,479
5.55%, 03/05/37		49		72,711
5.80%, 08/15/34^(b)		85		127,364
Unilever Capital Corp., 5.90%, 11/15/32		1,151		1,624,098


				6,298,448

Distribution & Wholesale — 0.1%
WW Grainger Inc.
3.75%, 05/15/46 (Call 11/15/45)		480		552,624
4.20%, 05/15/47 (Call 11/15/46)		465		560,984
4.60%, 06/15/45 (Call 12/15/44)		755		951,004


				2,064,612

Diversified Financial Services — 1.8%
Ally Financial Inc. 8.00%, 11/01/31		2,077		2,882,045
American Express Co., 4.05%, 12/03/42		925		1,168,697
Blackstone Holdings Finance Co. LLC
3.50%, 09/10/49 (Call 03/10/49)^(a)		800		882,997
4.00%, 10/02/47 (Call 04/02/47)^(a)(b)		340		402,872
4.45%, 07/15/45^(a)		400		496,010
5.00%, 06/15/44^(a)		61		79,817
Brookfield Finance Inc., 4.70%, 09/20/47 (Call 03/20/47)		979		1,210,173
Brookfield Finance LLC, 3.45%, 04/15/50 (Call 10/15/49)		500		497,447
Carlyle Holdings II Finance LLC, 5.63%, 03/30/43^(a)		245		310,461
CME Group Inc.
4.15%, 06/15/48 (Call 12/15/47)		770		998,868
5.30%, 09/15/43 (Call 03/15/43)		746		1,071,488
Credit Suisse USA Inc., 7.13%, 07/15/32		663		1,007,564
FMR LLC
5.15%, 02/01/43^(a)		500		687,403
6.50%, 12/14/40^(a)		500		775,943
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35		9,055		10,351,473
Invesco Finance PLC, 5.38%, 11/30/43		376		502,630
Jefferies Financial Group Inc., 6.63%, 10/23/43 (Call 07/23/43)		245		298,536
Jefferies Group LLC
6.25%, 01/15/36		430		528,202
6.50%, 01/20/43		620		769,301
KKR Group Finance Co. II LLC, 5.50%, 02/01/43 (Call 08/01/42)^(a)		550		723,479
Legg Mason Inc., 5.63%, 01/15/44		430		590,245
Mastercard Inc.
3.65%, 06/01/49 (Call 12/01/48)		868		1,029,315
3.80%, 11/21/46 (Call 05/21/46)		450		541,707
3.95%, 02/26/48 (Call 08/26/47)		745		923,663
Neuberger Berman Group LLC/Neuberger Berman Finance Corp., 4.88%, 04/15/45 (Call 10/15/44)^(a)		50		56,436
Raymond James Financial Inc., 4.95%, 07/15/46		885		1,132,635


Security	Par (000)		Value

Diversified Financial Services (continued)
Visa Inc.
3.65%, 09/15/47 (Call 03/15/47)	$	1,294	$	1,537,922
4.15%, 12/14/35 (Call 06/14/35)		1,914		2,374,023
4.30%, 12/14/45 (Call 06/14/45)		2,170		2,829,659
Western Union Co. (The)
6.20%, 11/17/36^(b)		260		319,224
6.20%, 06/21/40		340		405,456


				37,385,691

Electric — 12.3%
Abu Dhabi National Energy Co. PJSC
4.00%, 10/03/49^(a)		400		442,000
4.88%, 04/23/30^(a)		800		951,750
6.50%, 10/27/36^(a)(b)		1,000		1,406,875
Acwa Power Management And Investments One Ltd., 5.95%, 12/15/39^(a)		225		247,781
AEP Texas Inc.
3.80%, 10/01/47 (Call 04/01/47)		50		57,124
Series G, 4.15%, 05/01/49 (Call 11/01/48)^(b)		245		293,667
Series H, 3.45%, 01/15/50 (Call 07/15/49)		250		266,095
AEP Transmission Co. LLC
3.15%, 09/15/49 (Call 03/15/49)		50		52,903
3.75%, 12/01/47 (Call 06/01/47)		485		567,725
3.80%, 06/15/49 (Call 12/15/48)^(b)		315		371,476
4.00%, 12/01/46 (Call 06/01/46)		465		569,737
4.25%, 09/15/48 (Call 03/15/48)^(b)		320		401,478
Alabama Power Co.
3.45%, 10/01/49 (Call 04/01/49)		415		451,526
3.75%, 03/01/45 (Call 09/01/44)		575		643,868
3.85%, 12/01/42		220		254,833
4.10%, 01/15/42		85		98,275
4.15%, 08/15/44 (Call 02/15/44)		367		432,610
4.30%, 01/02/46 (Call 07/02/45)^(b)		425		504,675
5.70%, 02/15/33^(b)		50		68,893
6.00%, 03/01/39		395		568,218
6.13%, 05/15/38		310		447,633
Series A, 4.30%, 07/15/48 (Call 01/15/48)		185		229,334
Series B, 3.70%, 12/01/47 (Call 06/01/47)		485		541,602
Ameren Illinois Co.
3.25%, 03/15/50 (Call 09/15/49)		340		379,116
3.70%, 12/01/47 (Call 06/01/47)		480		568,413
4.15%, 03/15/46 (Call 09/15/45)		625		781,244
4.30%, 07/01/44 (Call 01/01/44)		200		248,727
4.50%, 03/15/49 (Call 09/15/48)		613		813,667
4.80%, 12/15/43 (Call 06/15/43)		250		334,355
American Transmission Systems Inc., 5.00%, 09/01/44 (Call 03/01/44)^(a)		325		433,621
Appalachian Power Co.
4.40%, 05/15/44 (Call 11/15/43)		491		603,568
4.45%, 06/01/45 (Call 12/01/44)		405		500,279
7.00%, 04/01/38		648		992,072
Series L, 5.80%, 10/01/35		212		286,195
Series P, 6.70%, 08/15/37		80		116,752
Series Y, 4.50%, 03/01/49 (Call 09/01/48)		305		385,790
Arizona Public Service Co.
3.50%, 12/01/49 (Call 06/01/49)^(b)		405		450,865
3.75%, 05/15/46 (Call 11/15/45)		620		724,830
4.20%, 08/15/48 (Call 02/15/48)		60		74,133
4.25%, 03/01/49 (Call 09/01/48)		610		773,825
4.35%, 11/15/45 (Call 05/15/45)		60		76,318
4.50%, 04/01/42 (Call 10/01/41)		501		634,537


Security	Par (000)		Value

Electric (continued)
5.05%, 09/01/41 (Call 03/01/41)	$	160	$	211,239
Avista Corp., 4.35%, 06/01/48 (Call 12/01/47)		300		385,441
Baltimore Gas & Electric Co.
3.20%, 09/15/49 (Call 03/15/49)^(b)		360		380,044
3.50%, 08/15/46 (Call 02/15/46)		645		707,240
3.75%, 08/15/47 (Call 02/15/47)		50		57,445
4.25%, 09/15/48 (Call 03/15/48)^(b)		200		247,355
Berkshire Hathaway Energy Co.
3.80%, 07/15/48 (Call 01/15/48)		872		1,000,296
4.45%, 01/15/49 (Call 07/15/48)		801		1,023,552
4.50%, 02/01/45 (Call 08/01/44)		685		847,612
5.15%, 11/15/43 (Call 05/15/43)		947		1,293,488
5.95%, 05/15/37		1,205		1,744,824
6.13%, 04/01/36		717		1,022,140
Black Hills Corp.
3.88%, 10/15/49 (Call 04/15/49)		370		414,930
4.20%, 09/15/46 (Call 03/15/46)		220		259,440
4.35%, 05/01/33 (Call 02/01/33)		595		716,903
Celeo Redes Operacion Chile SA, 5.20%, 06/22/47^(a)		195		210,936
CenterPoint Energy Houston Electric LLC
3.55%, 08/01/42 (Call 02/01/42)		845		961,020
3.95%, 03/01/48 (Call 09/01/47)		525		626,239
4.50%, 04/01/44 (Call 10/01/43)		315		407,956
Series AC, 4.25%, 02/01/49 (Call 08/01/48)^(b)		510		656,488
CenterPoint Energy Inc., 3.70%, 09/01/49 (Call 03/01/49)^(b)		325		356,496
Cleco Corporate Holdings LLC, 4.97%, 05/01/46 (Call 11/01/45)		520		634,848
Cleco Power LLC, 6.00%, 12/01/40		100		133,427
Cleveland Electric Illuminating Co. (The)
4.55%, 11/15/30 (Call 08/15/30)^(a)(b)		100		119,796
5.95%, 12/15/36		430		586,170
CMS Energy Corp.
4.70%, 03/31/43 (Call 09/30/42)		1,005		1,243,338
4.88%, 03/01/44 (Call 09/01/43)		546		705,006
Cometa Energia SA de CV, 6.38%, 04/24/35 (Call 01/24/35)^(a)		388		446,346
Comision Federal de Electricidad
5.75%, 02/14/42^(a)		800		939,500
6.13%, 06/16/45^(a)		400		494,375
Commonwealth Edison Co.
3.65%, 06/15/46 (Call 12/15/45)		420		479,846
3.70%, 03/01/45 (Call 09/01/44)		275		314,030
3.80%, 10/01/42 (Call 04/01/42)		350		405,564
4.00%, 03/01/48 (Call 09/01/47)		695		841,016
4.00%, 03/01/49 (Call 09/01/48)		585		698,519
4.35%, 11/15/45 (Call 05/15/45)		350		436,490
4.60%, 08/15/43 (Call 02/15/43)		150		189,438
4.70%, 01/15/44 (Call 04/15/43)		575		738,180
6.45%, 01/15/38		105		157,962
Series 123, 3.75%, 08/15/47 (Call 02/15/47)		400		463,951
Series 127, 3.20%, 11/15/49 (Call 05/15/49)^(b)		155		164,445
Connecticut Light & Power Co. (The)
4.00%, 04/01/48 (Call 10/01/47)		900		1,136,134
4.30%, 04/15/44 (Call 10/15/43)		650		829,368
Consolidated Edison Co. of New York Inc.
3.70%, 11/15/59 (Call 05/15/59)		225		252,313
3.85%, 06/15/46 (Call 12/15/45)		550		626,886
3.95%, 03/01/43 (Call 09/01/42)		575		667,177
4.45%, 03/15/44 (Call 09/15/43)		939		1,184,045


Security	Par (000)		Value

Electric (continued)
4.50%, 12/01/45 (Call 06/01/45)	$	867	$	1,097,113
4.50%, 05/15/58 (Call 11/15/57)		385		488,690
4.63%, 12/01/54 (Call 06/01/54)		798		1,067,505
5.70%, 06/15/40		195		283,419
Series 05-A, 5.30%, 03/01/35		125		164,332
Series 06-A, 5.85%, 03/15/36		125		172,290
Series 06-B, 6.20%, 06/15/36		395		559,889
Series 06-E, 5.70%, 12/01/36^(b)		90		121,823
Series 07-A, 6.30%, 08/15/37		125		182,086
Series 08-B, 6.75%, 04/01/38		635		968,749
Series 09-C, 5.50%, 12/01/39		465		635,969
Series 12-A, 4.20%, 03/15/42		83		99,915
Series 2017, 3.88%, 06/15/47 (Call 12/15/46)		605		706,545
Series A, 4.13%, 05/15/49 (Call 11/15/48)		410		493,254
Series C, 4.00%, 11/15/57 (Call 05/15/57)		25		29,189
Series C, 4.30%, 12/01/56 (Call 06/01/56)		602		738,022
Series E, 4.65%, 12/01/48 (Call 06/01/48)		430		558,969
Consumers Energy Co.
3.10%, 08/15/50 (Call 02/15/50)^(b)		200		215,675
3.25%, 08/15/46 (Call 02/15/46)		450		505,815
3.75%, 02/15/50 (Call 08/15/49)		48		57,042
3.95%, 05/15/43 (Call 11/15/42)		245		299,123
3.95%, 07/15/47 (Call 01/15/47)		310		382,677
4.05%, 05/15/48 (Call 11/15/47)		430		528,606
4.35%, 04/15/49 (Call 10/15/48)		500		662,491
Dayton Power & Light Co. (The), 3.95%, 06/15/49 (Call 12/15/48)^(a)		384		439,119
Delmarva Power & Light Co., 4.15%, 05/15/45 (Call 11/15/44)		250		302,535
Dominion Energy Inc.
4.70%, 12/01/44 (Call 06/01/44)		621		770,802
7.00%, 06/15/38		403		588,036
Series A, 4.60%, 03/15/49 (Call 09/15/48)		610		761,805
Series B, 5.95%, 06/15/35		490		661,395
Series C, 4.05%, 09/15/42 (Call 03/15/42)		475		533,319
Series C, 4.90%, 08/01/41 (Call 02/01/41)		642		794,658
Series E, 6.30%, 03/15/33		391		531,677
Series F, 5.25%, 08/01/33		520		653,546
Dominion Energy South Carolina Inc.
4.60%, 06/15/43 (Call 12/15/42)		501		640,011
5.10%, 06/01/65 (Call 12/01/64)		370		532,608
5.30%, 05/15/33^(b)		155		206,355
5.45%, 02/01/41 (Call 08/01/40)		380		520,212
6.05%, 01/15/38^(b)		313		452,766
6.63%, 02/01/32		375		540,321
DTE Electric Co.
2.95%, 03/01/50 (Call 09/01/49)		300		308,693
3.70%, 03/15/45 (Call 09/15/44)		350		401,280
3.70%, 06/01/46 (Call 12/01/45)		335		382,849
3.75%, 08/15/47 (Call 02/15/47)		175		203,977
3.95%, 06/15/42 (Call 12/15/41)		200		228,790
3.95%, 03/01/49 (Call 09/01/48)		895		1,089,288
4.30%, 07/01/44 (Call 01/01/44)		348		427,880
5.70%, 10/01/37		500		678,051
Series A, 4.00%, 04/01/43 (Call 10/01/42)		325		380,375
Series A, 4.05%, 05/15/48 (Call 11/15/47)^(b)		580		707,402
DTE Energy Co., 6.38%, 04/15/33		235		324,986
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)		540		580,098
3.70%, 12/01/47 (Call 06/01/47)		340		389,188


Security	Par (000)		Value

Electric (continued)
3.75%, 06/01/45 (Call 12/01/44)	$	240	$	277,750
3.88%, 03/15/46 (Call 09/15/45)		390		459,263
3.95%, 03/15/48 (Call 09/15/47)		1,075		1,297,205
4.00%, 09/30/42 (Call 03/30/42)		325		387,632
4.25%, 12/15/41 (Call 06/15/41)		415		507,227
5.30%, 02/15/40		555		760,343
6.00%, 01/15/38		187		274,604
6.05%, 04/15/38		335		494,201
6.10%, 06/01/37		285		414,624
6.45%, 10/15/32		441		636,837
Duke Energy Corp.
3.75%, 09/01/46 (Call 03/01/46)		1,813		2,009,913
3.95%, 08/15/47 (Call 02/15/47)		450		508,786
4.20%, 06/15/49 (Call 12/15/48)^(b)		1,005		1,189,457
4.80%, 12/15/45 (Call 06/15/45)		716		900,860
Duke Energy Florida LLC
3.40%, 10/01/46 (Call 04/01/46)		495		534,305
3.85%, 11/15/42 (Call 05/15/42)^(b)		380		441,323
4.20%, 07/15/48 (Call 01/15/48)		90		112,098
5.65%, 04/01/40		150		215,235
6.35%, 09/15/37		525		789,455
6.40%, 06/15/38^(b)		345		520,350
Duke Energy Indiana LLC
3.75%, 05/15/46 (Call 12/15/45)		295		339,950
6.12%, 10/15/35		250		355,168
6.35%, 08/15/38		236		359,655
6.45%, 04/01/39		285		444,173
Series UUU, 4.20%, 03/15/42 (Call 09/15/41)		125		148,929
Series WWW, 4.90%, 07/15/43 (Call 01/15/43)		190		251,008
Series YYY, 3.25%, 10/01/49 (Call 04/01/49)		250		267,397
Duke Energy Ohio Inc.
3.70%, 06/15/46 (Call 12/15/45)		60		69,070
4.30%, 02/01/49 (Call 08/01/48)		835		1,041,546
Duke Energy Progress LLC
3.60%, 09/15/47 (Call 03/15/47)		470		529,206
3.70%, 10/15/46 (Call 04/15/46)		720		827,926
4.10%, 05/15/42 (Call 11/15/41)		410		500,381
4.10%, 03/15/43 (Call 09/15/42)		371		444,842
4.15%, 12/01/44 (Call 06/01/44)		444		538,049
4.20%, 08/15/45 (Call 02/15/45)		352		435,638
4.38%, 03/30/44 (Call 09/30/43)		150		188,109
6.30%, 04/01/38		175		264,339
E.ON International Finance BV, 6.65%, 04/30/38^(a)		539		792,196
El Paso Electric Co.
5.00%, 12/01/44 (Call 06/01/44)		300		375,608
6.00%, 05/15/35^(b)		400		533,238
Electricite de France SA
4.75%, 10/13/35 (Call 04/13/35)^(a)(b)		990		1,257,151
4.88%, 09/21/38 (Call 03/21/38)^(a)(b)		1,550		2,012,477
4.88%, 01/22/44^(a)		775		1,001,507
4.95%, 10/13/45 (Call 04/13/45)^(a)		1,220		1,562,039
5.00%, 09/21/48 (Call 03/21/48)^(a)		1,400		1,819,969
5.25%, 10/13/55 (Call 04/13/55)^(a)		290		404,589
5.60%, 01/27/40^(a)(b)		860		1,211,363
6.00%, 01/22/2114^(a)		375		487,763
6.95%, 01/26/39^(a)		155		245,923
Emera U.S. Finance LP, 4.75%, 06/15/46 (Call 12/15/45)		1,290		1,585,731
Emirates Semb Corp. Water & Power Co. PJSC, 4.45%, 08/01/35^(a)		250		275,000
Empresa de Transmision Electrica SA, 5.13%, 05/02/49^(a)		450		534,294


Security	Par (000)		Value

Electric (continued)
Enel Finance International NV
4.75%, 05/25/47^(a)	$	1,820	$	2,193,979
6.00%, 10/07/39^(a)(b)		665		883,095
Entergy Arkansas LLC
4.20%, 04/01/49 (Call 10/01/48)		245		300,570
4.95%, 12/15/44 (Call 12/15/24)		20		21,869
Entergy Louisiana LLC
3.05%, 06/01/31 (Call 03/01/31)		384		421,647
4.00%, 03/15/33 (Call 12/15/32)		595		719,502
4.20%, 09/01/48 (Call 03/01/48)		821		1,040,343
4.20%, 04/01/50 (Call 10/01/49)		645		803,821
4.95%, 01/15/45 (Call 01/15/25)		100		110,164
Entergy Mississippi LLC, 3.85%, 06/01/49 (Call 12/01/48)		615		730,736
Entergy Texas Inc., 3.55%, 09/30/49 (Call 03/30/49)		350		391,010
Evergy Kansas Central Inc.
3.25%, 09/01/49 (Call 03/01/49)		225		244,336
4.10%, 04/01/43 (Call 10/01/42)		218		268,340
4.13%, 03/01/42 (Call 09/01/41)^(b)		485		598,302
4.25%, 12/01/45 (Call 06/01/45)		480		609,702
4.63%, 09/01/43 (Call 03/01/43)		245		317,285
Evergy Metro Inc.
4.20%, 06/15/47 (Call 12/15/46)		355		448,632
4.20%, 03/15/48 (Call 09/15/47)		260		334,203
5.30%, 10/01/41 (Call 04/01/41)		314		431,791
Series 2019, 4.13%, 04/01/49 (Call 10/01/48)		350		437,267
Eversource Energy, 3.45%, 01/15/50 (Call 07/15/49)		150		162,093
Exelon Corp.
4.45%, 04/15/46 (Call 10/15/45)		601		727,362
4.95%, 06/15/35 (Call 12/15/34)		325		398,142
5.10%, 06/15/45 (Call 12/15/44)		761		984,011
5.63%, 06/15/35		742		976,269
7.60%, 04/01/32		180		264,297
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)		810		965,640
5.75%, 10/01/41 (Call 04/01/41)		360		426,307
6.25%, 10/01/39		813		1,015,693
FirstEnergy Corp.
Series C, 4.85%, 07/15/47 (Call 01/15/47)		1,020		1,255,625
Series C, 7.38%, 11/15/31^(b)		1,236		1,805,930
FirstEnergy Transmission LLC
4.55%, 04/01/49 (Call 10/01/48)^(a)		350		439,234
5.45%, 07/15/44 (Call 01/15/44)^(a)		600		821,331
Florida Power & Light Co.
3.15%, 10/01/49 (Call 04/01/49)^(b)		1,250		1,388,317
3.70%, 12/01/47 (Call 06/01/47)		585		679,363
3.80%, 12/15/42 (Call 06/15/42)^(b)		275		328,241
3.95%, 03/01/48 (Call 09/01/47)		485		599,475
3.99%, 03/01/49 (Call 09/01/48)		655		815,936
4.05%, 06/01/42 (Call 12/01/41)		360		445,428
4.05%, 10/01/44 (Call 04/01/44)^(b)		305		371,986
4.13%, 02/01/42 (Call 08/01/41)		470		577,968
4.13%, 06/01/48 (Call 12/01/47)		492		627,382
4.95%, 06/01/35		700		958,073
5.13%, 06/01/41 (Call 12/01/40)		50		66,893
5.25%, 02/01/41 (Call 08/01/40)		200		283,354
5.63%, 04/01/34		125		180,069
5.65%, 02/01/37		146		207,745
5.69%, 03/01/40		169		249,873
5.95%, 10/01/33		15		21,408
5.95%, 02/01/38^(b)		820		1,225,749


Security	Par (000)		Value

Electric (continued)
5.96%, 04/01/39	$	100	$	150,498
Georgia Power Co.
4.30%, 03/15/42		1,300		1,552,161
4.30%, 03/15/43^(b)		296		353,079
5.40%, 06/01/40		75		99,897
Series 10-C, 4.75%, 09/01/40		466		574,137
Iberdrola International BV, 6.75%, 07/15/36		230		344,227
Indiana Michigan Power Co.
4.25%, 08/15/48 (Call 02/15/48)		355		441,779
6.05%, 03/15/37		239		336,164
Series K, 4.55%, 03/15/46 (Call 09/15/45)		490		629,500
Series L, 3.75%, 07/01/47 (Call 01/01/47)		240		275,420
Indianapolis Power & Light Co.
4.05%, 05/01/46 (Call 11/01/45)^(a)		125		153,359
4.70%, 09/01/45 (Call 03/01/45)^(a)		50		65,134
Infraestructura Energetica Nova SAB de CV, 4.88%, 01/14/48^(a)		250		254,609
Interstate Power & Light Co.
3.50%, 09/30/49 (Call 03/30/49)		660		732,831
3.70%, 09/15/46 (Call 03/15/46)		435		490,384
4.70%, 10/15/43 (Call 04/15/43)^(b)		143		179,918
6.25%, 07/15/39		80		114,004
ITC Holdings Corp., 5.30%, 07/01/43 (Call 01/01/43)		278		376,144
Jersey Central Power & Light Co., 6.15%, 06/01/37		57		81,078
Kentucky Utilities Co.
4.38%, 10/01/45 (Call 04/01/45)		750		926,067
5.13%, 11/01/40 (Call 05/01/40)		606		809,312
Series 1, 4.65%, 11/15/43 (Call 05/15/43)		50		62,567
LLPL Capital Pte Ltd., 6.88%, 02/04/39^(a)		192		225,934
Louisville Gas & Electric Co., 4.25%, 04/01/49 (Call 10/01/48)		485		596,984
Massachusetts Electric Co., 5.90%, 11/15/39^(a)(b)		50		71,874
MidAmerican Energy Co.
3.15%, 04/15/50 (Call 10/15/49)		500		539,931
3.65%, 08/01/48 (Call 02/01/48)		530		635,086
3.95%, 08/01/47 (Call 02/01/47)		205		255,438
4.25%, 05/01/46 (Call 11/01/45)		236		297,966
4.25%, 07/15/49 (Call 01/15/49)		1,161		1,492,210
4.40%, 10/15/44 (Call 04/15/44)		950		1,224,705
4.80%, 09/15/43 (Call 03/15/43)		645		868,148
5.75%, 11/01/35		56		80,014
5.80%, 10/15/36		55		79,250
6.75%, 12/30/31^(b)		211		314,214
Minejesa Capital BV
4.63%, 08/10/30^(a)		1,500		1,564,762
5.63%, 08/10/37^(a)		500		552,969
Mississippi Power Co., Series 12-A, 4.25%, 03/15/42		425		492,832
Monongahela Power Co., 5.40%, 12/15/43 (Call 06/15/43)^(a)		680		932,743
Narragansett Electric Co. (The), 4.17%, 12/10/42^(a)(b)		50		59,110
National Grid USA, 5.80%, 04/01/35^(b)		680		876,360
National Rural Utilities Cooperative Finance Corp.
4.02%, 11/01/32 (Call 05/01/32)		305		375,742
4.30%, 03/15/49 (Call 09/15/48)		655		839,118
4.40%, 11/01/48 (Call 05/01/48)		200		256,599
Series C, 8.00%, 03/01/32		496		796,536
Nevada Power Co.
5.38%, 09/15/40 (Call 03/15/40)		305		400,405
5.45%, 05/15/41 (Call 11/15/40)		25		34,374
Series N, 6.65%, 04/01/36		300		447,477


Security	Par (000)		Value

Electric (continued)
Series R, 6.75%, 07/01/37	$	245	$	363,567
New England Power Co., 3.80%, 12/05/47 (Call 06/05/47)^(a)(b)		950		1,097,519
New York State Electric & Gas Corp., 3.30%, 09/15/49 (Call 03/15/49)^(a)(b)		165		170,821
Niagara Mohawk Power Corp., 4.28%, 10/01/34 (Call 04/01/34)^(a)		750		903,556
Northern States Power Co./MN
2.90%, 03/01/50 (Call 09/01/49)^(b)		900		924,497
3.40%, 08/15/42 (Call 02/15/42)		360		410,637
3.60%, 05/15/46 (Call 11/15/45)		75		89,377
4.00%, 08/15/45 (Call 02/15/45)		115		144,973
4.13%, 05/15/44 (Call 11/15/43)		232		289,743
4.85%, 08/15/40 (Call 02/15/40)		25		32,596
5.35%, 11/01/39		355		502,213
6.25%, 06/01/36		421		628,893
NorthWestern Corp., 4.18%, 11/15/44 (Call 05/15/44)		571		667,652
NSTAR Electric Co.
4.40%, 03/01/44 (Call 09/01/43)		175		224,268
5.50%, 03/15/40		346		484,323
Oglethorpe Power Corp.
4.20%, 12/01/42		450		469,617
4.25%, 04/01/46 (Call 10/01/45)		105		110,229
4.55%, 06/01/44		355		406,242
5.05%, 10/01/48 (Call 04/01/48)		200		258,857
5.25%, 09/01/50		255		323,023
5.38%, 11/01/40		345		451,155
5.95%, 11/01/39^(b)		465		592,932
Ohio Edison Co.
6.88%, 07/15/36		350		542,761
8.25%, 10/15/38		65		113,077
Ohio Power Co.
4.00%, 06/01/49 (Call 12/01/48)		275		336,489
4.15%, 04/01/48 (Call 10/01/47)^(b)		565		702,067
Series D, 6.60%, 03/01/33		190		280,009
Oklahoma Gas & Electric Co.
3.30%, 03/15/30 (Call 09/15/29)		630		695,703
3.85%, 08/15/47 (Call 02/15/47)		320		365,435
4.15%, 04/01/47 (Call 10/01/46)		405		483,604
5.85%, 06/01/40		45		61,448
Oncor Electric Delivery Co. LLC
3.10%, 09/15/49 (Call 03/15/49)^(b)		800		872,345
3.75%, 04/01/45 (Call 10/01/44)		639		766,968
3.80%, 09/30/47 (Call 03/30/47)		375		454,987
3.80%, 06/01/49 (Call 12/01/48)		490		598,334
4.10%, 11/15/48 (Call 05/15/48)		345		438,581
4.55%, 12/01/41 (Call 06/01/41)		410		537,641
5.25%, 09/30/40		305		431,685
5.30%, 06/01/42 (Call 12/01/41)		710		1,011,325
7.00%, 05/01/32		173		260,010
7.25%, 01/15/33		185		285,714
7.50%, 09/01/38		105		177,540
PacifiCorp
4.10%, 02/01/42 (Call 08/01/41)		280		340,805
4.13%, 01/15/49 (Call 07/15/48)		735		923,544
4.15%, 02/15/50 (Call 08/15/49)		700		870,665
5.75%, 04/01/37		265		375,624
6.00%, 01/15/39		650		954,796
6.10%, 08/01/36		780		1,135,977
6.25%, 10/15/37		135		202,684


Security	Par (000)		Value

Electric (continued)
6.35%, 07/15/38	$	180	$	273,069
PECO Energy Co.
3.00%, 09/15/49 (Call 03/15/49)		470		491,264
3.90%, 03/01/48 (Call 09/01/47)		540		644,029
4.15%, 10/01/44 (Call 04/01/44)		615		747,204
4.80%, 10/15/43 (Call 04/15/43)		500		643,462
5.95%, 10/01/36		111		156,268
Pennsylvania Electric Co., 6.15%, 10/01/38		75		105,320
Perusahaan Listrik Negara PT
4.88%, 07/17/49^(a)		1,415		1,569,843
6.15%, 05/21/48^(a)		1,425		1,848,937
6.25%, 01/25/49^(a)(b)		590		782,175
Potomac Electric Power Co.
4.15%, 03/15/43 (Call 09/15/42)		621		747,098
6.50%, 11/15/37		345		514,049
7.90%, 12/15/38		75		122,205
PPL Capital Funding Inc.
4.00%, 09/15/47 (Call 03/15/47)		735		825,918
4.70%, 06/01/43 (Call 12/01/42)		615		740,408
5.00%, 03/15/44 (Call 09/15/43)		425		525,886
PPL Electric Utilities Corp.
3.00%, 10/01/49 (Call 04/01/49)^(b)		530		549,431
3.95%, 06/01/47 (Call 12/01/46)		345		411,955
4.13%, 06/15/44 (Call 12/15/43)		185		220,135
4.15%, 06/15/48 (Call 12/15/47)^(b)		455		560,761
4.75%, 07/15/43 (Call 01/15/43)		195		251,847
5.20%, 07/15/41 (Call 01/15/41)		10		13,134
6.25%, 05/15/39		315		465,677
Progress Energy Inc.
6.00%, 12/01/39^(b)		540		771,426
7.00%, 10/30/31		310		451,230
7.75%, 03/01/31		349		516,850
PSEG Power LLC, 8.63%, 04/15/31		270		385,511
Public Service Co. of Colorado
3.55%, 06/15/46 (Call 12/15/45)		350		384,794
3.60%, 09/15/42 (Call 03/15/42)		250		292,944
3.80%, 06/15/47 (Call 12/15/46)		400		467,250
3.95%, 03/15/43 (Call 09/15/42)		125		147,222
4.05%, 09/15/49 (Call 03/15/49)		605		751,775
4.10%, 06/15/48 (Call 12/15/47)		350		441,246
4.30%, 03/15/44 (Call 09/15/43)		205		258,249
4.75%, 08/15/41 (Call 02/15/41)		5		6,443
6.50%, 08/01/38		235		365,498
Series 17, 6.25%, 09/01/37		390		601,370
Series 34, 3.20%, 03/01/50 (Call 09/01/49)		730		796,845
Public Service Co. of New Hampshire, 3.60%, 07/01/49 (Call 01/01/49)		840		980,099
Public Service Co. of Oklahoma, Series G, 6.63%, 11/15/37		50		74,822
Public Service Electric & Gas Co.
3.15%, 01/01/50 (Call 07/01/49)		500		547,303
3.20%, 08/01/49 (Call 02/01/49)		510		570,315
3.60%, 12/01/47 (Call 06/01/47)		705		831,495
3.65%, 09/01/42 (Call 03/01/42)		235		273,326
3.80%, 03/01/46 (Call 09/01/45)		763		913,557
3.85%, 05/01/49 (Call 11/01/48)		575		705,708
3.95%, 05/01/42 (Call 11/01/41)		560		674,793
4.05%, 05/01/48 (Call 11/01/47)		205		258,178
4.15%, 11/01/45 (Call 05/01/45)		75		94,356
5.50%, 03/01/40		100		143,145


Security	Par (000)		Value

Electric (continued)
5.80%, 05/01/37	$	260	$	368,493
Series K, 4.05%, 05/01/45 (Call 11/01/44)		60		72,560
Puget Sound Energy Inc.
3.25%, 09/15/49 (Call 03/15/49)		1,160		1,226,513
4.22%, 06/15/48 (Call 12/15/47)		25		30,765
4.30%, 05/20/45 (Call 11/20/44)		499		612,175
4.43%, 11/15/41 (Call 05/15/41)		695		820,319
5.64%, 04/15/41 (Call 10/15/40)		235		325,145
5.76%, 10/01/39		225		316,156
5.80%, 03/15/40		141		197,317
6.27%, 03/15/37		365		516,781
Ruwais Power Co. PJSC, 6.00%, 08/31/36^(a)		450		570,094
San Diego Gas & Electric Co.
3.95%, 11/15/41		190		211,208
4.15%, 05/15/48 (Call 11/15/47)		565		684,639
4.50%, 08/15/40		395		501,536
5.35%, 05/15/40		25		33,601
6.00%, 06/01/39^(b)		208		310,286
Series RRR, 3.75%, 06/01/47 (Call 12/01/46)^(b)		621		721,104
Series TTT, 4.10%, 06/15/49 (Call 12/15/48)		30		36,963
Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/44^(a)		1,600		1,960,000
Sempra Energy
3.80%, 02/01/38 (Call 08/01/37)		2,206		2,470,383
4.00%, 02/01/48 (Call 08/01/47)		679		750,849
6.00%, 10/15/39		450		628,691
Southern California Edison Co.
3.65%, 02/01/50 (Call 08/01/49)		365		392,191
4.00%, 04/01/47 (Call 10/01/46)		681		778,224
4.05%, 03/15/42 (Call 09/15/41)		565		645,806
4.50%, 09/01/40 (Call 03/01/40)		443		535,767
4.65%, 10/01/43 (Call 04/01/43)		749		920,733
5.50%, 03/15/40		272		367,273
5.63%, 02/01/36		275		366,397
6.00%, 01/15/34^(b)		363		503,574
6.05%, 03/15/39		650		920,105
Series 04-G, 5.75%, 04/01/35		205		282,690
Series 05-B, 5.55%, 01/15/36		285		366,374
Series 05-E, 5.35%, 07/15/35		395		524,834
Series 06-E, 5.55%, 01/15/37		250		329,680
Series 08-A, 5.95%, 02/01/38		475		673,591
Series 13-A, 3.90%, 03/15/43 (Call 09/15/42)		410		449,812
Series B, 4.88%, 03/01/49 (Call 09/01/48)		799		1,040,204
Series C, 3.60%, 02/01/45 (Call 08/01/44)		630		661,782
Series C, 4.13%, 03/01/48 (Call 09/01/47)		973		1,112,557
Southern Co. (The)
4.25%, 07/01/36 (Call 01/01/36)		799		945,376
4.40%, 07/01/46 (Call 01/01/46)		1,605		1,876,818
Southern Power Co.
5.15%, 09/15/41		595		742,155
5.25%, 07/15/43^(b)		225		280,373
Series F, 4.95%, 12/15/46 (Call 06/15/46)		805		999,300
Southwestern Electric Power Co.
6.20%, 03/15/40		385		551,101
Series J, 3.90%, 04/01/45 (Call 10/01/44)		670		749,104
Series L, 3.85%, 02/01/48 (Call 08/01/47)		415		460,863
Southwestern Public Service Co.
3.40%, 08/15/46 (Call 02/15/46)		455		488,156
3.70%, 08/15/47 (Call 02/15/47)		385		440,520
3.75%, 06/15/49 (Call 12/15/48)		115		131,696
4.50%, 08/15/41 (Call 02/15/41)		280		358,441


Security	Par (000)		Value

Electric (continued)
6.00%, 10/01/36^(b)	$	395	$	526,002
Series 6, 4.40%, 11/15/48 (Call 05/15/48)		490		620,598
State Grid Overseas Investment 2014 Ltd., 4.85%, 05/07/44^(a)		700		956,882
State Grid Overseas Investment 2016 Ltd., 4.00%, 05/04/47^(a)(b)		615		773,362
Tampa Electric Co.
3.63%, 06/15/50 (Call 12/15/49)^(b)		375		441,876
4.10%, 06/15/42 (Call 12/15/41)		520		625,786
4.20%, 05/15/45 (Call 11/15/44)		350		425,277
4.35%, 05/15/44 (Call 11/15/43)		225		284,263
4.45%, 06/15/49 (Call 12/15/48)		295		386,551
6.55%, 05/15/36		30		43,272
Toledo Edison Co. (The), 6.15%, 05/15/37		650		966,995
Tri-State Generation & Transmission Association Inc.
4.25%, 06/01/46 (Call 12/01/45)		55		64,849
6.00%, 06/15/40^(a)		700		1,002,241
Tucson Electric Power Co., 4.85%, 12/01/48 (Call 06/01/48)		300		404,251
Union Electric Co.
3.25%, 10/01/49 (Call 04/01/49)		470		517,457
3.90%, 09/15/42 (Call 03/15/42)		410		497,948
4.00%, 04/01/48 (Call 10/01/47)		380		467,429
8.45%, 03/15/39^(b)		290		513,035
Virginia Electric & Power Co.
3.30%, 12/01/49 (Call 06/01/49)		75		80,663
4.00%, 01/15/43 (Call 07/15/42)^(b)		346		413,825
4.45%, 02/15/44 (Call 08/15/43)		575		719,999
4.60%, 12/01/48 (Call 06/01/48)		760		997,069
6.35%, 11/30/37		25		37,379
8.88%, 11/15/38		315		577,395
Series A, 6.00%, 05/15/37		110		158,780
Series B, 3.80%, 09/15/47 (Call 03/15/47)		450		524,415
Series B, 4.20%, 05/15/45 (Call 11/15/44)		7		8,443
Series B, 6.00%, 01/15/36		250		355,557
Series C, 4.00%, 11/15/46 (Call 05/15/46)		585		702,530
Series D, 4.65%, 08/15/43 (Call 02/15/43)^(b)		286		372,027
Wisconsin Electric Power Co.
4.30%, 10/15/48 (Call 04/15/48)^(b)		429		532,518
5.63%, 05/15/33		57		77,856
5.70%, 12/01/36		5		6,916
Wisconsin Power & Light Co., 6.38%, 08/15/37		380		560,669
Wisconsin Public Service Corp.
3.30%, 09/01/49 (Call 03/01/49)^(b)		1,045		1,138,236
4.75%, 11/01/44 (Call 05/01/44)		310		411,516
Xcel Energy Inc.
3.50%, 12/01/49 (Call 06/01/49)^(b)		510		558,026
4.80%, 09/15/41 (Call 03/15/41)		279		346,735
6.50%, 07/01/36		225		322,006


				261,607,431

Electrical Components & Equipment — 0.0%
Emerson Electric Co.
5.25%, 11/15/39		35		47,434
6.00%, 08/15/32		450		635,734


				683,168

Electronics — 0.1%
Fortive Corp., 4.30%, 06/15/46 (Call 12/15/45)		569		672,479
Honeywell International Inc.
3.81%, 11/21/47 (Call 05/21/47)		460		583,457


Security	Par (000)		Value

Electronics (continued)
5.70%, 03/15/36	$	75	$	108,841
5.70%, 03/15/37		65		95,732
Series 30, 5.38%, 03/01/41		27		39,933
Tyco Electronics Group SA, 7.13%, 10/01/37		200		320,198


				1,820,640

Engineering & Construction — 0.2%
Aeropuerto Internacional de Tocumen SA, 6.00%, 11/18/48 (Call 11/18/47)^(a)		850		1,079,500
Mexico City Airport Trust
5.50%, 10/31/46 (Call 04/30/46)^(a)		475		517,616
5.50%, 07/31/47 (Call 01/31/47)^(a)		1,839		1,993,591


				3,590,707

Environmental Control — 0.2%
Republic Services Inc.
3.05%, 03/01/50 (Call 09/01/49)		260		258,991
5.70%, 05/15/41 (Call 11/15/40)		140		198,387
Waste Management Inc.
3.90%, 03/01/35 (Call 09/01/34)		350		404,847
4.00%, 07/15/39 (Call 01/15/39)		390		468,967
4.10%, 03/01/45 (Call 09/01/44)		910		1,116,141
4.15%, 07/15/49 (Call 01/15/49)		1,258		1,568,522


				4,015,855

Food — 1.7%
Campbell Soup Co., 4.80%, 03/15/48 (Call 09/15/47)		760		927,124
Conagra Brands Inc.
5.30%, 11/01/38 (Call 05/01/38)^(b)		976		1,183,842
5.40%, 11/01/48 (Call 05/01/48)		1,020		1,289,576
8.25%, 09/15/30		545		788,573
General Mills Inc.
4.15%, 02/15/43 (Call 08/15/42)		30		34,077
4.55%, 04/17/38 (Call 10/17/37)^(b)		605		727,160
4.70%, 04/17/48 (Call 10/17/47)		435		543,710
5.40%, 06/15/40		425		563,251
Grupo Bimbo SAB de CV
4.00%, 09/06/49 (Call 03/06/49)^(a)(b)		1,000		1,031,675
4.70%, 11/10/47 (Call 05/10/47)^(a)		200		230,000
Hershey Co. (The)
3.13%, 11/15/49 (Call 05/15/49)		385		414,591
3.38%, 08/15/46 (Call 02/15/46)		200		226,496
Ingredion Inc., 6.63%, 04/15/37		200		281,176
JM Smucker Co. (The)
4.25%, 03/15/35		1,070		1,249,380
4.38%, 03/15/45^(b)		700		801,136
Kellogg Co.
4.50%, 04/01/46^(b)		390		463,566
Series B, 7.45%, 04/01/31		851		1,242,954
Koninklijke Ahold Delhaize NV, 5.70%, 10/01/40		480		649,817
Kroger Co. (The)
3.88%, 10/15/46 (Call 04/15/46)		625		665,165
3.95%, 01/15/50 (Call 07/15/49)		100		103,603
4.45%, 02/01/47 (Call 08/01/46)		840		951,009
4.65%, 01/15/48 (Call 07/15/47)		510		579,264
5.00%, 04/15/42 (Call 10/15/41)		375		449,403
5.15%, 08/01/43 (Call 02/01/43)		195		244,306
5.40%, 07/15/40 (Call 01/15/40)^(b)		295		370,441
5.40%, 01/15/49 (Call 07/15/48)		370		480,511
6.90%, 04/15/38		330		468,717
7.50%, 04/01/31		315		450,292


Security	Par (000)		Value

Food (continued)
Mars Inc.
3.20%, 04/01/30 (Call 01/01/30)^(a)	$	275	$	307,027
3.60%, 04/01/34 (Call 01/01/34)^(a)		455		539,321
3.88%, 04/01/39 (Call 10/01/38)^(a)		650		780,698
3.95%, 04/01/44 (Call 10/01/43)^(a)		825		988,522
3.95%, 04/01/49 (Call 10/01/48)^(a)		675		820,342
4.13%, 04/01/54 (Call 10/01/53)^(a)(b)		475		581,665
4.20%, 04/01/59 (Call 10/01/58)^(a)		675		890,388
McCormick & Co. Inc./MD, 4.20%, 08/15/47 (Call 02/15/47)		315		382,319
Mondelez International Inc., 4.63%, 05/07/48 (Call 11/07/47)		725		941,487
Nestle Holdings Inc.
3.90%, 09/24/38 (Call 03/24/38)^(a)		1,180		1,428,324
4.00%, 09/24/48 (Call 03/24/48)^(a)		1,904		2,405,891
Sysco Corp.
4.45%, 03/15/48 (Call 09/15/47)		792		962,097
4.50%, 04/01/46 (Call 10/01/45)		506		639,134
4.85%, 10/01/45 (Call 04/01/45)		625		804,583
5.38%, 09/21/35		325		444,171
Tesco PLC, 6.15%, 11/15/37^(a)(b)		730		945,685
Tyson Foods Inc.
4.55%, 06/02/47 (Call 12/02/46)^(b)		640		768,994
4.88%, 08/15/34 (Call 02/15/34)^(b)		520		642,086
5.10%, 09/28/48 (Call 03/28/48)		1,494		1,946,532
5.15%, 08/15/44 (Call 02/15/44)		360		459,037


				35,089,118

Forest Products & Paper — 0.5%
Celulosa Arauco y Constitucion SA
5.15%, 01/29/50 (Call 07/29/49)^(a)		50		51,250
5.50%, 11/02/47 (Call 05/02/47)		455		491,258
5.50%, 04/30/49 (Call 10/30/48)^(a)(b)		500		537,362
Domtar Corp.
6.25%, 09/01/42^(b)		175		208,733
6.75%, 02/15/44 (Call 08/15/43)^(b)		220		273,905
Georgia-Pacific LLC, 8.88%, 05/15/31		693		1,132,933
International Paper Co.
4.35%, 08/15/48 (Call 02/15/48)		990		1,124,992
4.40%, 08/15/47 (Call 02/15/47)		1,305		1,468,483
4.80%, 06/15/44 (Call 12/15/43)		576		661,478
5.00%, 09/15/35 (Call 03/15/35)		440		559,441
5.15%, 05/15/46 (Call 11/15/45)		610		746,558
6.00%, 11/15/41 (Call 05/15/41)		405		539,837
7.30%, 11/15/39		780		1,154,284
8.70%, 06/15/38		75		118,276
Stora Enso OYJ, 7.25%, 04/15/36^(a)		470		582,800
Suzano Austria GmbH, 7.00%, 03/16/47 (Call 09/16/46)^(a)		935		1,107,975


				10,759,565

Gas — 1.1%
Atmos Energy Corp.
3.38%, 09/15/49 (Call 03/15/49)^(b)		950		1,045,175
4.13%, 10/15/44 (Call 04/15/44)		565		671,978
4.13%, 03/15/49 (Call 09/15/48)		285		356,426
4.15%, 01/15/43 (Call 07/15/42)		340		397,817
4.30%, 10/01/48 (Call 04/01/48)^(b)		400		504,367
5.50%, 06/15/41 (Call 12/15/40)		305		414,263
Boston Gas Co., 4.49%, 02/15/42^(a)		35		43,430
Brooklyn Union Gas Co. (The) 4.27%, 03/15/48 (Call 09/15/47)^(a)		1,035		1,275,410


Security	Par (000)		Value

Gas (continued)
4.49%, 03/04/49 (Call 09/04/48)^(a)	$	1,300	$	1,652,742
4.50%, 03/10/46 (Call 09/10/45)^(a)(b)		25		31,391
CenterPoint Energy Resources Corp.
4.10%, 09/01/47 (Call 03/01/47)		365		428,141
5.85%, 01/15/41 (Call 07/15/40)		235		325,685
6.63%, 11/01/37		35		51,063
Centrica PLC, 5.38%, 10/16/43 (Call 04/16/43)^(a)		250		309,418
Dominion Energy Gas Holdings LLC
4.60%, 12/15/44 (Call 06/15/44)^(b)		500		592,117
4.80%, 11/01/43 (Call 05/01/43)		115		139,548
Series C, 3.90%, 11/15/49 (Call 08/15/49)		270		293,132
KeySpan Gas East Corp., 5.82%, 04/01/41^(a)		250		350,127
Korea Gas Corp., 6.25%, 01/20/42^(a)		640		1,041,600
Mega Advance Investments Ltd., 6.38%, 05/12/41^(a)		200		299,188
Nakilat Inc., 6.07%, 12/31/33^(a)(b)		650		788,734
NiSource Inc.
3.95%, 03/30/48 (Call 12/30/47)		435		491,630
4.38%, 05/15/47 (Call 11/15/46)		720		844,687
4.80%, 02/15/44 (Call 08/15/43)		803		974,022
5.25%, 02/15/43 (Call 08/15/42)		687		890,060
5.65%, 02/01/45 (Call 08/01/44)		561		764,847
5.80%, 02/01/42 (Call 08/01/41)		150		197,816
5.95%, 06/15/41 (Call 12/15/40)^(b)		560		772,116
ONE Gas Inc.
4.50%, 11/01/48 (Call 05/01/48)^(b)		355		442,893
4.66%, 02/01/44 (Call 08/01/43)		235		295,204
Piedmont Natural Gas Co. Inc.
3.64%, 11/01/46 (Call 05/01/46)		70		76,189
4.10%, 09/18/34 (Call 03/18/34)		100		119,737
4.65%, 08/01/43 (Call 02/01/43)		153		186,601
Southern California Gas Co.
3.75%, 09/15/42 (Call 03/15/42)		180		198,594
4.45%, 03/15/44 (Call 09/15/43)		470		565,065
5.13%, 11/15/40		80		102,972
Series UU, 4.13%, 06/01/48 (Call 12/01/47)		155		189,195
Series VV, 4.30%, 01/15/49 (Call 07/15/48)		510		653,383
Series WW, 3.95%, 02/15/50 (Call 08/15/49)^(b)		800		990,234
Southern Co. Gas Capital Corp.
3.95%, 10/01/46 (Call 04/01/46)		250		278,144
4.40%, 06/01/43 (Call 12/01/42)		341		399,603
4.40%, 05/30/47 (Call 11/30/46)		210		256,180
5.88%, 03/15/41 (Call 09/15/40)		767		1,077,826
6.00%, 10/01/34		400		549,151
Southwest Gas Corp.
3.80%, 09/29/46 (Call 03/29/46)		175		203,238
4.15%, 06/01/49 (Call 12/01/48)^(b)		285		340,374
Spire Inc., 4.70%, 08/15/44 (Call 02/15/44)		100		123,483
Washington Gas Light Co.
3.65%, 09/15/49 (Call 03/15/49)		511		563,168
Series K, 3.80%, 09/15/46 (Call 03/15/46)^(b)		210		232,380


				23,790,544

Hand & Machine Tools — 0.1%
Snap-on Inc., 4.10%, 03/01/48 (Call 09/01/47)		450		562,212
Stanley Black & Decker Inc.
4.85%, 11/15/48 (Call 05/15/48)		191		264,939
5.20%, 09/01/40		235		309,478


				1,136,629


Security	Par (000)		Value

Health Care - Products — 1.3%
Abbott Laboratories
4.75%, 11/30/36 (Call 05/30/36)	$	2,155	$	2,825,984
4.75%, 04/15/43 (Call 10/15/42)		973		1,293,589
4.90%, 11/30/46 (Call 05/30/46)		3,020		4,206,261
5.30%, 05/27/40^(b)		310		439,345
6.00%, 04/01/39		200		299,821
Alcon Finance Corp., 3.80%, 09/23/49 (Call 03/23/49)^(a)		400		446,439
Baxter International Inc., 3.50%, 08/15/46 (Call 02/15/46)		1,423		1,494,908
Boston Scientific Corp.
4.55%, 03/01/39 (Call 09/01/38)		1,275		1,576,126
4.70%, 03/01/49 (Call 09/01/48)		945		1,232,052
7.00%, 11/15/35		335		492,659
7.38%, 01/15/40		220		351,968
Danaher Corp., 4.38%, 09/15/45 (Call 03/15/45)		465		589,354
DH Europe Finance II Sarl
3.25%, 11/15/39 (Call 05/15/39)		300		325,919
3.40%, 11/15/49 (Call 05/15/49)^(b)		810		893,398
Koninklijke Philips NV, 5.00%, 03/15/42^(b)		1,080		1,453,427
Medtronic Inc.
4.38%, 03/15/35		2,040		2,596,723
4.63%, 03/15/45		1,871		2,532,034
Stryker Corp.
4.10%, 04/01/43 (Call 10/01/42)		475		559,246
4.38%, 05/15/44 (Call 12/15/43)		266		328,154
4.63%, 03/15/46 (Call 09/15/45)		1,035		1,339,082
Thermo Fisher Scientific Inc.
4.10%, 08/15/47 (Call 02/15/47)		881		1,104,404
5.30%, 02/01/44 (Call 08/01/43)		512		684,457
Zimmer Biomet Holdings Inc.
4.25%, 08/15/35 (Call 02/15/35)		465		505,021
4.45%, 08/15/45 (Call 07/15/45)		315		358,584
5.75%, 11/30/39		200		250,844


				28,179,799

Health Care - Services — 2.8%
Advocate Health & Hospitals Corp., 4.27%, 08/15/48 (Call 02/15/48)		750		972,286
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)		465		491,536
4.13%, 11/15/42 (Call 05/15/42)		600		651,266
4.50%, 05/15/42 (Call 11/15/41)		520		586,298
4.75%, 03/15/44 (Call 09/15/43)		380		444,592
6.63%, 06/15/36		380		527,429
6.75%, 12/15/37		435		621,742
Allina Health System, Series 2019, 3.89%, 04/15/49		215		257,139
Anthem Inc.
3.70%, 09/15/49 (Call 03/15/49)^(b)		320		327,732
4.38%, 12/01/47 (Call 06/01/47)^(b)		895		1,022,623
4.55%, 03/01/48 (Call 09/01/47)		1,030		1,211,736
4.63%, 05/15/42		1,302		1,510,336
4.65%, 01/15/43		829		971,704
4.65%, 08/15/44 (Call 02/15/44)		620		724,481
4.85%, 08/15/54 (Call 02/15/54)		275		332,354
5.10%, 01/15/44^(b)		795		982,806
5.95%, 12/15/34		35		47,539
Ascension Health
3.95%, 11/15/46		1,278		1,585,440
4.85%, 11/15/53		166		237,600
Baylor Scott & White Holdings
3.97%, 11/15/46 (Call 05/15/46)		350		430,313
4.19%, 11/15/45 (Call 05/15/45)		201		250,796


Security	Par (000)		Value

Health Care - Services (continued)
CommonSpirit Health
3.82%, 10/01/49 (Call 04/01/49)^(b)	$	630	$	675,978
4.19%, 10/01/49 (Call 04/01/49)		797		871,786
4.35%, 11/01/42		695		784,242
Dartmouth-Hitchcock Health, Series B, 4.18%, 08/01/48 (Call 02/01/48)		230		289,099
Dignity Health
4.50%, 11/01/42		305		357,715
5.27%, 11/01/64		115		152,681
Duke University Health System Inc., Series 2017, 3.92%, 06/01/47 (Call 12/01/46)		330		417,711
Hackensack Meridian Health Inc., 4.21%, 07/01/48 (Call 01/01/48)		75		95,488
Hartford HealthCare Corp., 3.45%, 07/01/54		100		106,392
HCA Inc.
5.13%, 06/15/39 (Call 12/15/38)^(b)		1,362		1,583,370
5.25%, 06/15/49 (Call 12/15/48)		1,425		1,659,844
5.50%, 06/15/47 (Call 12/15/46)		1,360		1,614,075
Humana Inc.
3.95%, 08/15/49 (Call 02/15/49)		780		845,869
4.63%, 12/01/42 (Call 06/01/42)		685		804,533
4.80%, 03/15/47 (Call 09/14/46)^(b)		325		396,784
4.95%, 10/01/44 (Call 04/01/44)^(b)		285		351,092
8.15%, 06/15/38		100		154,756
Indiana University Health Inc. Obligated Group, 3.97%, 11/01/48 (Call 05/01/48)		100		124,946
Johns Hopkins Health System Corp. (The), 3.84%, 05/15/46		135		166,212
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		2,183		2,756,773
4.88%, 04/01/42		100		136,126
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)		1,250		1,506,590
Mayo Clinic, Series 2013, 4.00%, 11/15/47		11		13,932
McLaren Health Care Corp., Series A, 4.39%, 05/15/48 (Call 11/15/47)		25		31,802
Memorial Sloan-Kettering Cancer Center
4.13%, 07/01/52		325		410,973
5.00%, 07/01/42		45		62,281
Series 2015, 4.20%, 07/01/55		465		601,183
Montefiore Obligated Group, Series 18-C, 5.24%, 11/01/48 (Call 05/01/48)		370		459,839
Mount Sinai Hospitals Group Inc., Series 2017, 3.98%, 07/01/48^(b)		205		240,275
New York and Presbyterian Hospital (The)
4.02%, 08/01/45		101		126,453
4.06%, 08/01/56		450		562,066
4.76%, 08/01/2116		55		75,737
Series 2019, 3.95%, 12/31/99 (Call 02/01/2119)		750		901,840
Northwell Healthcare Inc.
3.81%, 11/01/49 (Call 11/01/48)		110		123,382
3.98%, 11/01/46 (Call 11/01/45)		890		1,031,675
4.26%, 11/01/47 (Call 11/01/46)		710		843,260
Ochsner Clinic Foundation, 5.90%, 05/15/45 (Call 11/15/44)		75		110,059
Partners Healthcare System Inc., Series 2020, 3.19%, 07/01/49 (Call 01/01/49)		1,135		1,199,631
Providence St Joseph Health Obligated Group
Series A, 3.93%, 10/01/48 (Call 04/01/48)^(b)		115		140,494
Series I, 3.74%, 10/01/47		250		292,966


Security	Par (000)		Value

Health Care - Services (continued)
Quest Diagnostics Inc., 4.70%, 03/30/45 (Call 09/30/44)	$	527	$	640,053
Roche Holdings Inc., 4.00%, 11/28/44 (Call 05/28/44)^(a)(b)		261		336,545
Southern Baptist Hospital of Florida Inc., 4.86%, 07/15/45 (Call 01/15/45)		25		33,098
Spectrum Health System Obligated Group, Series 19A, 3.49%, 07/15/49 (Call 01/15/49)		100		114,103
Stanford Health Care, Series 2018, 3.80%, 11/15/48 (Call 05/15/48)		375		463,286
Sutter Health, Series 2018, 4.09%, 08/15/48 (Call 02/15/48)		395		497,661
Texas Health Resources, 4.33%, 11/15/55		9		11,879
Toledo Hospital (The)
4.98%, 11/15/45 (Call 05/15/45)^(b)		50		54,620
5.75%, 11/15/38 (Call 11/15/28)		165		200,555
6.02%, 11/15/48^(b)		530		686,547
UnitedHealth Group Inc.
3.50%, 08/15/39 (Call 02/15/39)		377		415,350
3.70%, 08/15/49 (Call 02/15/49)^(b)		1,145		1,277,075
3.75%, 10/15/47 (Call 04/15/47)		870		983,526
3.88%, 08/15/59 (Call 02/15/59)		1,325		1,508,984
3.95%, 10/15/42 (Call 04/15/42)		617		710,465
4.20%, 01/15/47 (Call 07/15/46)		493		590,993
4.25%, 03/15/43 (Call 09/15/42)		1,000		1,193,797
4.25%, 04/15/47 (Call 10/15/46)		430		519,803
4.25%, 06/15/48 (Call 12/15/47)		1,007		1,220,662
4.38%, 03/15/42 (Call 09/15/41)		350		423,411
4.45%, 12/15/48 (Call 06/15/48)		1,065		1,332,015
4.63%, 07/15/35		1,539		1,923,831
4.63%, 11/15/41 (Call 05/15/41)^(b)		405		504,810
4.75%, 07/15/45		1,000		1,283,274
5.70%, 10/15/40 (Call 04/15/40)		330		461,703
5.80%, 03/15/36		390		535,760
5.95%, 02/15/41 (Call 08/15/40)		400		575,478
6.50%, 06/15/37		415		613,188
6.63%, 11/15/37		486		728,634
6.88%, 02/15/38		980		1,498,553
Willis-Knighton Medical Center, Series 2018, 4.81%, 09/01/48 (Call 03/01/48)		135		180,687


				58,788,004

Holding Companies - Diversified — 0.1%
CK Hutchison International 19 II Ltd., 3.38%, 09/06/49 (Call 03/06/49)^(a)		1,000		1,122,500
Hutchison Whampoa International Ltd., 7.45%, 11/24/33^(a)(b)		275		430,289


				1,552,789

Home Furnishings — 0.1%
Whirlpool Corp.
4.50%, 06/01/46 (Call 12/01/45)		755		838,253
5.15%, 03/01/43		200		230,014


				1,068,267

Household Products & Wares — 0.2%
Kimberly-Clark Corp.
2.88%, 02/07/50 (Call 08/07/49)		400		411,795
3.20%, 07/30/46 (Call 01/30/46)^(b)		755		824,358
3.90%, 05/04/47 (Call 11/04/46)		310		379,256
5.30%, 03/01/41^(b)		31		42,972
6.63%, 08/01/37		330		506,395


Security	Par (000)		Value

Household Products & Wares (continued)
SC Johnson & Son Inc., 4.75%, 10/15/46 (Call 04/15/46)^(a)	$	1,025	$	1,358,672


				3,523,448

Insurance — 5.3%
ACE Capital Trust II, Series N, 9.70%, 04/01/30		100		150,000
Aflac Inc.
4.00%, 10/15/46 (Call 04/15/46)		395		475,623
4.75%, 01/15/49 (Call 07/15/48)		1,035		1,379,928
6.45%, 08/15/40^(b)		131		196,724
AIA Group Ltd., 4.50%, 03/16/46 (Call 09/16/45)^(a)		200		255,373
AIG SunAmerica Global Financing X, 6.90%, 03/15/32^(a)(b)		575		840,995
Alleghany Corp., 4.90%, 09/15/44 (Call 03/15/44)		140		180,678
Allstate Corp. (The)
3.85%, 08/10/49 (Call 02/10/49)^(b)		805		961,813
4.20%, 12/15/46 (Call 06/15/46)		620		794,032
4.50%, 06/15/43		335		437,010
5.35%, 06/01/33^(b)		388		527,484
5.55%, 05/09/35		376		523,925
5.95%, 04/01/36		150		219,307
6.50%, 05/15/67 (Call 05/15/37)^(c)		195		247,650
American Financial Group Inc./OH, 4.50%, 06/15/47 (Call 12/15/46)		425		525,761
American International Group Inc.
3.88%, 01/15/35 (Call 07/15/34)		1,496		1,708,383
4.38%, 01/15/55 (Call 07/15/54)		495		575,244
4.50%, 07/16/44 (Call 01/16/44)		1,041		1,275,712
4.70%, 07/10/35 (Call 01/10/35)		760		935,651
4.75%, 04/01/48 (Call 10/01/47)^(b)		1,095		1,402,672
4.80%, 07/10/45 (Call 01/10/45)		1,045		1,332,402
6.25%, 05/01/36		990		1,352,194
8.18%, 05/15/68 (Call 05/15/38)^(c)		170		232,050
Aon Corp., 6.25%, 09/30/40		600		892,457
Aon PLC
4.45%, 05/24/43 (Call 02/24/43)		505		608,915
4.60%, 06/14/44 (Call 03/14/44)^(b)		705		890,779
4.75%, 05/15/45 (Call 11/15/44)^(b)		441		580,074
Arch Capital Finance LLC, 5.03%, 12/15/46 (Call 06/15/46)		270		373,520
Arch Capital Group Ltd., 7.35%, 05/01/34^(b)		270		418,323
Arch Capital Group U.S. Inc., 5.14%, 11/01/43		470		653,183
Assurant Inc., 6.75%, 02/15/34		48		63,233
AXA SA, 8.60%, 12/15/30		2,015		2,979,681
AXIS Specialty Finance PLC, 5.15%, 04/01/45		510		630,438
Berkshire Hathaway Finance Corp.
4.20%, 08/15/48 (Call 02/15/48)		1,965		2,400,929
4.25%, 01/15/49 (Call 07/15/48)		1,243		1,546,989
4.30%, 05/15/43^(b)		373		461,018
4.40%, 05/15/42		715		891,051
5.75%, 01/15/40		445		643,993
Berkshire Hathaway Inc., 4.50%, 02/11/43		715		913,557
Brighthouse Financial Inc., 4.70%, 06/22/47 (Call 12/22/46)		1,174		1,186,395
Chubb Corp. (The), 6.00%, 05/11/37		210		317,469
Chubb INA Holdings Inc.
4.15%, 03/13/43		250		310,543
4.35%, 11/03/45 (Call 05/03/45)		860		1,112,073
Equitable Holdings Inc., 5.00%, 04/20/48 (Call 10/20/47)		1,140		1,291,384
Everest Reinsurance Holdings Inc., 4.87%, 06/01/44		450		560,754


Security	Par (000)		Value

Insurance (continued)
Farmers Exchange Capital II, 6.15%, 11/01/53 (Call 11/01/33)^(a)(c)	$	10	$	13,184
Farmers Exchange Capital III, 5.45%, 10/15/54 (Call 10/15/34)^(a)(c)		615		743,037
Farmers Insurance Exchange, 4.75%, 11/01/57 (Call 11/01/37)^(a)(c)		300		327,952
Great-West Lifeco Finance 2018 LP, 4.58%, 05/17/48 (Call 11/17/47)^(a)		1,000		1,306,670
Great-West Lifeco Finance Delaware LP, 4.15%, 06/03/47 (Call 12/03/46)^(a)		50		61,420
Guardian Life Insurance Co. of America (The)
3.70%, 01/22/70 (Call 07/22/69)^(a)		50		56,349
4.85%, 01/24/77^(a)		475		645,318
4.88%, 06/19/64^(a)		275		380,468
Harborwalk Funding Trust, 5.08%, 02/15/69 (Call 02/15/49)^(a)(c)		590		750,483
Hartford Financial Services Group Inc. (The)
3.60%, 08/19/49 (Call 02/19/49)^(b)		860		944,344
4.30%, 04/15/43		179		218,034
4.40%, 03/15/48 (Call 09/15/47)		415		517,653
5.95%, 10/15/36		216		303,622
6.10%, 10/01/41		520		764,642
6.63%, 03/30/40		520		779,681
Liberty Mutual Group Inc.
3.95%, 10/15/50 (Call 04/15/50)^(a)(b)		1,326		1,459,800
4.50%, 06/15/49 (Call 12/15/48)^(a)(b)		667		805,621
Liberty Mutual Insurance Co., 7.70%, 10/15/97^(a)(b)		85		144,610
Lincoln National Corp.
4.35%, 03/01/48 (Call 09/01/47)		860		1,012,357
6.30%, 10/09/37		116		164,031
7.00%, 06/15/40^(b)		625		978,841
Loews Corp.
4.13%, 05/15/43 (Call 11/15/42)		310		383,666
6.00%, 02/01/35		354		497,847
Manulife Financial Corp., 5.38%, 03/04/46		860		1,246,838
Markel Corp.
4.15%, 09/17/50 (Call 03/17/50)^(b)		685		783,769
4.30%, 11/01/47 (Call 05/01/47)		285		318,699
5.00%, 03/30/43		350		410,724
5.00%, 04/05/46		595		728,126
5.00%, 05/20/49 (Call 11/20/48)		325		408,868
Marsh & McLennan Companies Inc.
4.20%, 03/01/48 (Call 09/01/47)		385		461,456
4.35%, 01/30/47 (Call 07/30/46)		782		968,256
4.75%, 03/15/39 (Call 09/15/38)		170		221,590
4.90%, 03/15/49 (Call 09/15/48)		1,115		1,523,209
5.88%, 08/01/33		75		100,652
Massachusetts Mutual Life Insurance Co.
3.73%, 10/15/70^(a)(b)		931		997,220
4.90%, 04/01/77^(a)		190		268,829
MetLife Capital Trust IV, 7.88%, 12/15/37 (Call 12/15/32)^(a)		155		208,475
MetLife Inc.
4.05%, 03/01/45		1,666		1,996,381
4.13%, 08/13/42		766		915,323
4.60%, 05/13/46 (Call 12/13/45)		455		591,756
4.88%, 11/13/43		565		754,580
5.70%, 06/15/35		350		483,922
5.88%, 02/06/41		1,050		1,497,880
6.38%, 06/15/34		570		847,845


Security	Par (000)		Value

Insurance (continued)
6.40%, 12/15/66 (Call 12/15/31)	$	1,258	$	1,553,882
6.50%, 12/15/32		655		967,792
9.25%, 04/08/38 (Call 04/08/33)^(a)(b)		125		186,250
10.75%, 08/01/69 (Call 08/01/34)		176		293,040
Series N, 4.72%, 12/15/44		875		1,136,146
Mutual of Omaha Insurance Co., 6.80%, 06/15/36^(a)		75		105,351
Nationwide Financial Services Inc.
3.90%, 11/30/49 (Call 05/30/49)^(a)(b)		1,520		1,737,704
5.30%, 11/18/44^(a)		450		585,439
Nationwide Mutual Insurance Co.
4.95%, 04/22/44^(a)		750		979,128
8.25%, 12/01/31^(a)		200		307,451
9.38%, 08/15/39^(a)		435		788,274
New York Life Insurance Co.
4.45%, 05/15/69 (Call 11/15/68)^(a)		642		836,525
5.88%, 05/15/33^(a)(b)		980		1,385,691
6.75%, 11/15/39^(a)		1,160		1,833,587
Nippon Life Insurance Co., 3.40%, 01/23/50 (Call 01/23/30)^(a)(c)		700		721,000
Northwestern Mutual Life Insurance Co. (The)
3.63%, 09/30/59 (Call 03/30/59)^(a)		1,694		1,888,663
3.85%, 09/30/47 (Call 03/30/47)^(a)(b)		750		857,632
Ohio National Financial Services Inc., 6.63%, 05/01/31^(a)		150		164,584
Ohio National Life Insurance Co. (The), 6.88%, 06/15/42^(a)(b)		300		351,973
Pacific Life Insurance Co., 4.30%, 10/24/67 (Call 10/24/47)^(a)(c)		760		852,918
Principal Financial Group Inc.
4.30%, 11/15/46 (Call 05/15/46)^(b)		133		163,300
4.35%, 05/15/43		325		402,678
4.63%, 09/15/42		40		50,500
6.05%, 10/15/36		191		272,596
Progressive Corp. (The)
3.70%, 01/26/45		210		241,289
4.13%, 04/15/47 (Call 10/15/46)		673		840,464
4.20%, 03/15/48 (Call 09/15/47)		940		1,188,514
4.35%, 04/25/44		171		213,835
6.25%, 12/01/32		240		349,587
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)		75		79,765
3.91%, 12/07/47 (Call 06/07/47)		974		1,101,597
3.94%, 12/07/49 (Call 06/07/49)^(b)		1,438		1,612,102
4.35%, 02/25/50 (Call 08/25/49)		1,379		1,642,724
4.42%, 03/27/48 (Call 09/27/47)		550		663,726
4.60%, 05/15/44		480		604,429
5.70%, 12/14/36		780		1,116,810
6.63%, 06/21/40		150		228,665
Series B, 5.75%, 07/15/33		100		136,418
Series D, 6.63%, 12/01/37^(b)		65		98,657
Securian Financial Group Inc., 4.80%, 04/15/48^(a)(b)		315		428,819
Selective Insurance Group Inc., 5.38%, 03/01/49 (Call 09/01/48)		230		303,375
Sompo International Holdings Ltd., 7.00%, 07/15/34		400		578,753
Teachers Insurance & Annuity Association of America
4.27%, 05/15/47 (Call 11/15/46)^(a)(b)		2,635		3,244,229
4.90%, 09/15/44^(a)		826		1,089,602
6.85%, 12/16/39^(a)(b)		186		285,031
Transatlantic Holdings Inc., 8.00%, 11/30/39		275		457,755
Travelers Companies Inc. (The)
3.75%, 05/15/46 (Call 11/15/45)^(b)		530		621,530


Security	Par (000)		Value

Insurance (continued)
4.00%, 05/30/47 (Call 11/30/46)	$	457	$	566,447
4.05%, 03/07/48 (Call 09/07/47)		639		799,378
4.10%, 03/04/49 (Call 09/04/48)		715		919,066
4.30%, 08/25/45 (Call 02/25/45)		535		673,142
4.60%, 08/01/43		108		141,667
5.35%, 11/01/40		563		795,642
6.25%, 06/15/37		450		670,048
6.75%, 06/20/36		325		500,936
Travelers Property Casualty Corp., 6.38%, 03/15/33		400		599,847
Unum Group
4.50%, 12/15/49 (Call 06/15/49)		635		684,059
5.75%, 08/15/42		360		432,701
Voya Financial Inc.
4.80%, 06/15/46		100		129,036
5.70%, 07/15/43		660		934,883
Western & Southern Financial Group Inc., 5.75%, 07/15/33^(a)		200		269,402
Western & Southern Life Insurance Co. (The), 5.15%, 01/15/49 (Call 07/15/48)^(a)		150		200,381
Willis North America Inc.
3.88%, 09/15/49 (Call 03/15/49)^(b)		310		342,106
5.05%, 09/15/48 (Call 03/15/48)		805		1,037,791
WR Berkley Corp., 4.75%, 08/01/44		210		264,464
XLIT Ltd.
5.25%, 12/15/43		150		218,004
5.50%, 03/31/45^(b)		661		944,833


				111,925,010

Internet — 0.9%
Alibaba Group Holding Ltd.
4.00%, 12/06/37 (Call 06/06/37)		1,615		1,832,944
4.20%, 12/06/47 (Call 06/06/47)		1,285		1,547,622
4.40%, 12/06/57 (Call 06/06/57)		435		548,236
4.50%, 11/28/34 (Call 05/28/34)		625		766,406
Amazon.com Inc.
3.88%, 08/22/37 (Call 02/22/37)		2,490		2,995,434
4.05%, 08/22/47 (Call 02/22/47)^(b)		1,555		2,000,589
4.25%, 08/22/57 (Call 02/22/57)^(b)		1,942		2,607,691
4.80%, 12/05/34 (Call 06/05/34)		1,932		2,560,519
4.95%, 12/05/44 (Call 06/05/44)		1,475		2,078,275
eBay Inc., 4.00%, 07/15/42 (Call 01/15/42)		1,217		1,224,580
Tencent Holdings Ltd.
3.93%, 01/19/38 (Call 07/19/37)^(a)(b)		1,300		1,471,431
4.53%, 04/11/49 (Call 10/11/48)^(a)		200		259,000


				19,892,727

Iron & Steel — 0.4%
ArcelorMittal SA
6.75%, 03/01/41^(b)		560		730,512
7.00%, 10/15/39		646		815,281
Nucor Corp.
4.40%, 05/01/48 (Call 11/01/47)		385		465,170
5.20%, 08/01/43 (Call 02/01/43)		719		957,599
6.40%, 12/01/37^(b)		632		924,160
Vale Overseas Ltd.
6.88%, 11/21/36		1,105		1,455,606
6.88%, 11/10/39		1,320		1,750,031
8.25%, 01/17/34		50		69,813
Vale SA, 5.63%, 09/11/42		455		528,938


				7,697,110


Security	Par (000)		Value

Leisure Time — 0.0%
Harley-Davidson Inc., 4.63%, 07/28/45 (Call 01/28/45)	$	225	$	259,697


Lodging — 0.0%
Marriott International Inc./MD, 4.50%, 10/01/34 (Call 04/01/34)		780		925,877


Machinery — 0.6%
ABB Finance USA Inc., 4.38%, 05/08/42		537		703,670
Caterpillar Inc.
3.25%, 09/19/49 (Call 03/19/49)		955		1,031,647
3.80%, 08/15/42^(b)		1,223		1,457,054
4.30%, 05/15/44 (Call 11/15/43)		525		658,209
4.75%, 05/15/64 (Call 11/15/63)		780		1,065,997
5.20%, 05/27/41		620		869,758
5.30%, 09/15/35		86		116,765
6.05%, 08/15/36		186		269,748
Crane Co., 4.20%, 03/15/48 (Call 09/15/47)		70		76,466
Deere & Co.
2.88%, 09/07/49 (Call 03/07/49)		865		892,762
3.90%, 06/09/42 (Call 12/09/41)^(b)		1,003		1,229,535
7.13%, 03/03/31		188		276,860
Dover Corp.
5.38%, 10/15/35		140		187,948
5.38%, 03/01/41 (Call 12/01/40)		460		619,375
Otis Worldwide Corp.
3.11%, 02/15/40 (Call 08/15/39)^(a)		1,000		1,024,923
3.36%, 02/15/50 (Call 08/15/49)^(a)		1,245		1,282,614
Rockwell Automation Inc., 4.20%, 03/01/49 (Call 09/01/48)^(b)		876		1,131,933
Xylem Inc./NY, 4.38%, 11/01/46 (Call 05/01/46)		275		333,921


				13,229,185

Manufacturing — 1.4%
3M Co.
3.13%, 09/19/46 (Call 03/19/46)^(b)		450		457,495
3.25%, 08/26/49 (Call 02/26/49)^(b)		801		840,608
3.63%, 10/15/47 (Call 04/15/47)		341		378,290
3.88%, 06/15/44		150		171,957
4.00%, 09/14/48 (Call 03/14/48)^(b)		1,183		1,406,477
5.70%, 03/15/37		215		308,768
Eaton Corp.
4.00%, 11/02/32		1,125		1,364,709
4.15%, 11/02/42		1,110		1,383,773
General Electric Co.
4.13%, 10/09/42		307		329,101
4.50%, 03/11/44		525		613,161
5.88%, 01/14/38^(b)		2,583		3,358,996
6.15%, 08/07/37		1,829		2,402,002
6.88%, 01/10/39		1,450		2,020,610
Series A, 6.75%, 03/15/32		2,555		3,476,864
Illinois Tool Works Inc.
3.90%, 09/01/42 (Call 03/01/42)		1,292		1,630,728
4.88%, 09/15/41 (Call 03/15/41)		570		787,007
Ingersoll-Rand Global Holding Co. Ltd.
4.30%, 02/21/48 (Call 08/21/47)		125		149,106
5.75%, 06/15/43		680		968,119
Ingersoll-Rand Luxembourg Finance SA
4.50%, 03/21/49 (Call 09/21/48)		405		520,876
4.65%, 11/01/44 (Call 05/01/44)		165		205,271
Parker-Hannifin Corp. 4.00%, 06/14/49 (Call 12/14/48)^(b)		900		1,043,139


Security	Par (000)		Value

Manufacturing (continued)
4.10%, 03/01/47 (Call 09/01/46)	$	290	$	335,732
4.20%, 11/21/34 (Call 05/21/34)^(b)		362		434,819
4.45%, 11/21/44 (Call 05/21/44)		820		996,041
Series A, 6.25%, 05/15/38		455		647,735
Siemens Financieringsmaatschappij NV
3.30%, 09/15/46^(a)		1,220		1,357,084
4.20%, 03/16/47^(a)(b)		1,195		1,537,916
4.40%, 05/27/45^(a)		1,088		1,389,345


				30,515,729

Media — 5.0%
Charter Communications Operating LLC/Charter Communications Operating Capital
4.80%, 03/01/50 (Call 09/01/49)		1,105		1,194,018
5.13%, 07/01/49 (Call 01/01/49)		715		803,666
5.38%, 04/01/38 (Call 10/01/37)^(b)		1,144		1,327,287
5.38%, 05/01/47 (Call 11/01/46)		2,435		2,785,906
5.75%, 04/01/48 (Call 10/01/47)		2,587		3,080,541
6.38%, 10/23/35 (Call 04/23/35)		1,220		1,611,400
6.48%, 10/23/45 (Call 04/23/45)		2,540		3,264,304
6.83%, 10/23/55 (Call 04/23/55)		752		1,017,374
Comcast Corp.
3.20%, 07/15/36 (Call 01/15/36)^(b)		805		868,917
3.25%, 11/01/39 (Call 05/01/39)		2,950		3,187,969
3.40%, 07/15/46 (Call 01/15/46)		1,540		1,656,267
3.45%, 02/01/50 (Call 08/01/49)		1,285		1,418,546
3.90%, 03/01/38 (Call 09/01/37)		1,083		1,260,876
3.97%, 11/01/47 (Call 05/01/47)		1,950		2,294,093
4.00%, 08/15/47 (Call 02/15/47)		1,030		1,217,019
4.00%, 03/01/48 (Call 09/01/47)		893		1,058,610
4.00%, 11/01/49 (Call 05/01/49)^(b)		1,975		2,347,821
4.05%, 11/01/52 (Call 05/01/52)		1,145		1,363,991
4.20%, 08/15/34 (Call 02/15/34)		1,001		1,210,615
4.25%, 10/15/30 (Call 07/15/30)		2,330		2,774,299
4.25%, 01/15/33		1,505		1,810,357
4.40%, 08/15/35 (Call 02/25/35)		605		742,928
4.50%, 01/15/43		1,105		1,380,079
4.60%, 10/15/38 (Call 04/15/38)		2,215		2,766,785
4.60%, 08/15/45 (Call 02/15/45)		995		1,266,313
4.65%, 07/15/42		860		1,079,139
4.70%, 10/15/48 (Call 04/15/48)		3,595		4,726,441
4.75%, 03/01/44		1,100		1,420,345
4.95%, 10/15/58 (Call 04/15/58)		1,235		1,694,453
5.65%, 06/15/35		296		410,123
6.40%, 05/15/38^(b)		124		183,572
6.45%, 03/15/37		270		397,820
6.50%, 11/15/35		710		1,069,439
6.55%, 07/01/39		80		121,734
6.95%, 08/15/37		798		1,224,030
7.05%, 03/15/33^(b)		671		1,012,101
Cox Communications Inc.
4.50%, 06/30/43 (Call 12/30/42)^(a)		71		79,733
4.60%, 08/15/47 (Call 02/15/47)^(a)		1,530		1,829,363
4.70%, 12/15/42^(a)		275		318,722
8.38%, 03/01/39^(a)		800		1,298,789
Discovery Communications LLC
4.88%, 04/01/43		975		1,101,341
4.95%, 05/15/42		675		765,425
5.00%, 09/20/37 (Call 03/20/37)		1,240		1,422,996
5.20%, 09/20/47 (Call 03/20/47)		685		807,561
5.30%, 05/15/49 (Call 11/15/48)		662		801,385


Security	Par (000)		Value

Media (continued)
6.35%, 06/01/40	$	625	$	827,197
Fox Corp.
5.48%, 01/25/39 (Call 07/25/38)^(a)		1,483		1,900,473
5.58%, 01/25/49 (Call 07/25/48)^(a)		1,125		1,510,938
Grupo Televisa SAB
5.00%, 05/13/45 (Call 11/13/44)^(b)		1,060		1,240,200
5.25%, 05/24/49 (Call 11/24/48)^(b)		500		615,781
6.13%, 01/31/46 (Call 06/30/45)		200		269,188
6.63%, 01/15/40		429		588,668
NBCUniversal Media LLC
4.45%, 01/15/43		970		1,193,246
5.95%, 04/01/41		865		1,257,179
Thomson Reuters Corp.
5.50%, 08/15/35		150		184,215
5.65%, 11/23/43 (Call 05/23/43)		585		783,871
5.85%, 04/15/40		375		495,094
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)		770		800,971
5.50%, 09/01/41 (Call 03/01/41)		1,140		1,332,444
5.88%, 11/15/40 (Call 05/15/40)		1,425		1,703,019
6.55%, 05/01/37		1,207		1,571,480
6.75%, 06/15/39		720		932,600
7.30%, 07/01/38		801		1,097,247
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		970		1,427,167
TWDC Enterprises 18 Corp.
3.00%, 07/30/46		375		398,213
3.70%, 12/01/42		507		588,419
4.13%, 06/01/44		775		973,334
4.38%, 08/16/41^(b)		400		501,323
Series B, 7.00%, 03/01/32		200		299,815
Series E, 4.13%, 12/01/41		250		305,794
ViacomCBS Inc.
4.38%, 03/15/43		1,175		1,261,830
4.60%, 01/15/45 (Call 07/15/44)		805		883,104
4.85%, 07/01/42 (Call 01/01/42)		365		413,603
4.90%, 08/15/44 (Call 02/15/44)		625		709,567
5.25%, 04/01/44 (Call 10/01/43)^(b)		485		570,787
5.50%, 05/15/33		360		451,627
5.85%, 09/01/43 (Call 03/01/43)		955		1,206,703
5.90%, 10/15/40 (Call 04/15/40)		215		272,813
6.88%, 04/30/36		785		1,073,909
7.88%, 07/30/30		415		599,739
Walt Disney Co. (The)
2.75%, 09/01/49 (Call 03/01/49)^(b)		1,150		1,165,370
4.75%, 09/15/44 (Call 03/15/44)		728		963,585
4.75%, 11/15/46 (Call 05/15/46)		45		60,840
4.95%, 10/15/45 (Call 04/15/45)		495		680,053
5.40%, 10/01/43		505		723,244
6.15%, 03/01/37		60		87,479
6.15%, 02/15/41		74		111,631
6.20%, 12/15/34		2,195		3,239,800
6.40%, 12/15/35		722		1,077,853
6.55%, 03/15/33		1,070		1,576,981
6.65%, 11/15/37		1,025		1,579,098


				106,981,985

Metal Fabricate & Hardware — 0.1%
Precision Castparts Corp.
3.90%, 01/15/43 (Call 07/15/42)		491		588,696
4.38%, 06/15/45 (Call 12/15/44)		506		649,368


Security	Par (000)		Value

Metal Fabricate & Hardware (continued)
Valmont Industries Inc.
5.00%, 10/01/44 (Call 04/01/44)^(b)	$	410	$	471,493
5.25%, 10/01/54 (Call 04/01/54)		571		647,117


				2,356,674

Mining — 1.6%
Barrick Gold Corp.
5.25%, 04/01/42		1,507		1,995,388
6.45%, 10/15/35		70		99,896
Barrick North America Finance LLC
5.70%, 05/30/41		516		700,512
5.75%, 05/01/43		1,074		1,514,917
7.50%, 09/15/38		222		336,367
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		374		511,843
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		674		825,737
5.00%, 09/30/43^(b)		2,147		2,891,115
Corp. Nacional del Cobre de Chile
3.70%, 01/30/50 (Call 07/30/49)^(a)(b)		1,500		1,517,344
4.25%, 07/17/42^(a)		1,235		1,350,395
4.38%, 02/05/49 (Call 08/05/48)^(a)		1,575		1,781,227
4.50%, 08/01/47 (Call 02/01/47)^(a)		1,050		1,204,875
4.88%, 11/04/44^(a)		60		71,850
5.63%, 10/18/43^(a)		1,200		1,569,375
Glencore Canada Corp., 6.20%, 06/15/35		35		42,391
Glencore Finance Canada Ltd.
5.55%, 10/25/42^(a)(b)		225		256,122
6.00%, 11/15/41^(a)(b)		185		220,875
6.90%, 11/15/37^(a)		100		128,064
Indonesia Asahan Aluminium Persero PT, 6.76%, 11/15/48^(a)		800		1,052,600
Industrias Penoles SAB de CV, 5.65%, 09/12/49 (Call 03/12/49)^(a)		400		442,000
Kinross Gold Corp., 6.88%, 09/01/41 (Call 03/01/41)		40		49,524
Minera Mexico SA de CV, 4.50%, 01/26/50 (Call 07/26/49)^(a)		625		634,375
Newmont Corp.
4.88%, 03/15/42 (Call 09/15/41)		1,038		1,304,751
5.45%, 06/09/44 (Call 12/09/43)		504		675,950
5.88%, 04/01/35		250		352,382
6.25%, 10/01/39		893		1,272,825
Rio Tinto Alcan Inc.
5.75%, 06/01/35		136		186,969
6.13%, 12/15/33		586		848,468
7.25%, 03/15/31^(b)		791		1,166,272
Rio Tinto Finance USA Ltd., 5.20%, 11/02/40		465		644,693
Rio Tinto Finance USA PLC
4.13%, 08/21/42 (Call 02/21/42)		1,455		1,757,662
4.75%, 03/22/42 (Call 09/22/41)		415		549,583
Southern Copper Corp.
5.25%, 11/08/42		805		937,825
5.88%, 04/23/45^(b)		1,195		1,521,758
6.75%, 04/16/40		835		1,147,864
7.50%, 07/27/35		630		889,481
Teck Resources Ltd.
5.20%, 03/01/42 (Call 09/01/41)		445		443,458
5.40%, 02/01/43 (Call 08/01/42)		450		461,334
6.00%, 08/15/40 (Call 02/15/40)		415		469,917
6.13%, 10/01/35		410		487,670


Security	Par (000)		Value

Mining (continued)
6.25%, 07/15/41 (Call 01/15/41)^(b)	$	510	$	588,730


				34,904,384

Oil & Gas — 7.7%
Apache Corp.
4.25%, 01/15/44 (Call 07/15/43)		533		473,989
4.75%, 04/15/43 (Call 10/15/42)		1,197		1,130,486
5.10%, 09/01/40 (Call 03/01/40)		730		742,764
5.25%, 02/01/42 (Call 08/01/41)		455		469,623
5.35%, 07/01/49 (Call 01/01/49)^(b)		425		440,633
Burlington Resources LLC
5.95%, 10/15/36		385		535,314
7.20%, 08/15/31^(b)		450		650,168
7.40%, 12/01/31		345		498,464
Canadian Natural Resources Ltd.
4.95%, 06/01/47 (Call 12/01/46)		856		1,017,783
5.85%, 02/01/35		200		258,543
6.25%, 03/15/38		575		749,868
6.45%, 06/30/33		855		1,146,557
6.50%, 02/15/37		225		300,734
6.75%, 02/01/39		185		259,217
7.20%, 01/15/32		300		414,781
Cenovus Energy Inc.
5.25%, 06/15/37 (Call 12/15/36)		920		982,378
5.40%, 06/15/47 (Call 12/15/46)		932		1,021,685
6.75%, 11/15/39		898		1,110,952
CNOOC Finance 2012 Ltd., 5.00%, 05/02/42^(a)		250		334,453
CNOOC Finance 2013 Ltd.
3.30%, 09/30/49 (Call 03/30/49)^(b)		600		654,563
4.25%, 05/09/43		750		929,063
CNOOC Finance 2015 Australia Pty Ltd., 4.20%, 05/05/45		400		493,000
CNOOC Nexen Finance 2014 ULC, 4.88%, 04/30/44		965		1,286,828
CNPC HK Overseas Capital Ltd., 5.95%, 04/28/41^(a)		450		669,938
Concho Resources Inc.
4.85%, 08/15/48 (Call 02/15/48)		460		506,166
4.88%, 10/01/47 (Call 04/01/47)^(b)		1,165		1,372,446
Conoco Funding Co., 7.25%, 10/15/31		630		907,815
ConocoPhillips
5.90%, 10/15/32		617		828,897
5.90%, 05/15/38		310		429,580
6.50%, 02/01/39		2,348		3,476,774
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		1,109		1,330,824
5.95%, 03/15/46 (Call 09/15/45)		450		668,212
Continental Resources Inc./OK, 4.90%, 06/01/44 (Call 12/01/43)^(b)		977		861,550
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)		329		337,082
5.00%, 06/15/45 (Call 12/15/44)		612		657,817
5.60%, 07/15/41 (Call 01/15/41)		1,246		1,416,941
7.95%, 04/15/32		150		209,509
Ecopetrol SA
5.88%, 05/28/45^(b)		1,410		1,684,950
7.38%, 09/18/43		950		1,292,594
Empresa Nacional del Petroleo, 4.50%, 09/14/47 (Call 03/14/47)^(a)		750		773,789
EOG Resources Inc.
3.90%, 04/01/35 (Call 10/01/34)^(b)		800		936,263
5.10%, 01/15/36 (Call 07/15/35)		195		260,125
Equinor ASA 3.25%, 11/18/49 (Call 05/18/49)^(b)		900		959,276


Security	Par (000)		Value

Oil & Gas (continued)
3.95%, 05/15/43	$	609	$	708,285
4.25%, 11/23/41		700		850,770
4.80%, 11/08/43		738		974,945
5.10%, 08/17/40		707		943,827
Exxon Mobil Corp.
3.00%, 08/16/39 (Call 02/16/39)		700		730,790
3.10%, 08/16/49 (Call 02/16/49)		1,475		1,521,870
3.57%, 03/06/45 (Call 09/06/44)		1,239		1,374,296
4.11%, 03/01/46 (Call 09/01/45)^(b)		2,381		2,877,153
Gazprom PJSC Via Gaz Capital SA, 7.29%, 08/16/37^(a)		1,200		1,655,625
Hess Corp.
5.60%, 02/15/41		1,277		1,377,963
5.80%, 04/01/47 (Call 10/01/46)		495		547,818
6.00%, 01/15/40^(b)		665		742,653
7.13%, 03/15/33		300		380,608
7.30%, 08/15/31		770		985,826
Husky Energy Inc., 6.80%, 09/15/37		108		143,776
KazMunayGas National Co. JSC
5.38%, 04/24/30^(a)		900		1,046,813
6.38%, 10/24/48^(a)		1,150		1,518,180
Marathon Oil Corp.
5.20%, 06/01/45 (Call 12/01/44)^(b)		840		938,682
6.60%, 10/01/37^(b)		540		665,898
6.80%, 03/15/32		641		803,830
Marathon Petroleum Corp.
4.50%, 04/01/48 (Call 10/01/47)		458		522,232
4.75%, 09/15/44 (Call 03/15/44)		697		798,785
5.00%, 09/15/54 (Call 03/15/54)		568		634,713
5.85%, 12/15/45 (Call 06/15/45)^(b)		455		553,147
6.50%, 03/01/41 (Call 09/01/40)		820		1,105,669
Motiva Enterprises LLC, 6.85%, 01/15/40^(a)		475		609,094
Nexen Inc.
5.88%, 03/10/35		537		739,046
6.40%, 05/15/37		680		1,007,675
7.50%, 07/30/39		565		953,261
7.88%, 03/15/32		640		984,000
Noble Energy Inc.
4.20%, 10/15/49 (Call 04/15/49)		70		65,790
4.95%, 08/15/47 (Call 02/15/47)^(b)		280		294,664
5.05%, 11/15/44 (Call 05/15/44)		1,290		1,322,379
5.25%, 11/15/43 (Call 05/15/43)		660		697,862
6.00%, 03/01/41 (Call 09/01/40)		1,090		1,249,124
Occidental Petroleum Corp.
0.00%, 10/10/36 (Call 10/10/20)^(f)		200		98,508
4.10%, 02/15/47 (Call 08/15/46)		835		761,978
4.20%, 03/15/48 (Call 09/15/47)^(b)		800		746,026
4.30%, 08/15/39 (Call 02/15/39)		750		719,623
4.40%, 04/15/46 (Call 10/15/45)		863		782,613
4.40%, 08/15/49 (Call 02/15/49)^(b)		610		579,876
4.50%, 07/15/44 (Call 01/15/44)		915		874,454
4.63%, 06/15/45 (Call 12/15/44)		780		758,599
6.20%, 03/15/40		805		947,689
6.45%, 09/15/36		1,600		1,892,945
6.60%, 03/15/46 (Call 09/15/45)		715		868,681
7.50%, 05/01/31		770		975,392
7.88%, 09/15/31^(b)		349		455,329
7.95%, 06/15/39		200		269,087
Ovintiv Inc.
6.50%, 08/15/34		855		921,122
6.50%, 02/01/38		650		717,798


Security	Par (000)		Value

Oil & Gas (continued)
6.63%, 08/15/37	$	235	$	259,912
7.20%, 11/01/31		100		120,147
7.38%, 11/01/31		200		243,365
8.13%, 09/15/30		290		365,451
Pertamina Persero PT
4.18%, 01/21/50 (Call 07/21/49)^(a)		800		794,924
4.70%, 07/30/49^(a)		1,600		1,743,128
6.45%, 05/30/44^(a)		2,100		2,795,447
6.50%, 11/07/48^(a)(b)		1,080		1,471,840
Petroleos del Peru SA
4.75%, 06/19/32^(a)		1,135		1,271,377
5.63%, 06/19/47^(a)		700		846,125
Petroleos Mexicanos
5.50%, 06/27/44		1,307		1,148,216
5.63%, 01/23/46		1,825		1,595,871
5.95%, 01/28/31 (Call 07/28/30)^(a)		3,050		2,947,062
6.35%, 02/12/48		2,203		2,039,317
6.38%, 01/23/45^(b)		1,715		1,613,626
6.50%, 06/02/41		1,684		1,625,586
6.63%, 06/15/35		2,650		2,651,325
6.63%, 06/15/38		395		387,100
6.75%, 09/21/47		4,595		4,400,115
6.95%, 01/28/60 (Call 07/28/59)^(a)		2,225		2,136,000
7.69%, 01/23/50 (Call 07/23/49)^(a)		6,285		6,535,520
Petronas Capital Ltd., 4.50%, 03/18/45^(a)(b)		1,150		1,467,107
Phillips 66
4.65%, 11/15/34 (Call 05/15/34)		641		771,729
4.88%, 11/15/44 (Call 05/15/44)		1,640		1,972,137
5.88%, 05/01/42		1,501		2,039,968
PTTEP Treasury Center Co. Ltd., 3.90%, 12/06/59^(a)		500		567,500
Saudi Arabian Oil Co.
4.25%, 04/16/39^(a)		2,915		3,213,787
4.38%, 04/16/49^(a)		2,135		2,408,213
Shell International Finance BV
3.13%, 11/07/49 (Call 05/07/49)		1,360		1,404,363
3.63%, 08/21/42		583		628,101
3.75%, 09/12/46^(b)		951		1,085,967
4.00%, 05/10/46		1,980		2,317,273
4.13%, 05/11/35		1,935		2,329,962
4.38%, 05/11/45		1,663		2,049,414
4.55%, 08/12/43^(b)		1,550		1,935,604
5.50%, 03/25/40^(b)		1,350		1,872,530
6.38%, 12/15/38		1,405		2,117,583
Sinopec Capital 2013 Ltd., 4.25%, 04/24/43^(a)		400		492,000
Sinopec Group Overseas Development 2012 Ltd., 4.88%, 05/17/42^(a)		735		977,550
Sinopec Group Overseas Development 2013 Ltd., 5.38%, 10/17/43^(a)		250		353,911
Sinopec Group Overseas Development 2017 Ltd.
4.00%, 09/13/47^(a)(b)		1,035		1,244,588
4.25%, 04/12/47^(a)		600		747,750
Sinopec Group Overseas Development 2018 Ltd.
3.68%, 08/08/49 (Call 02/08/49)^(a)		310		354,563
4.60%, 09/12/48^(a)		975		1,286,386
Suncor Energy Inc.
4.00%, 11/15/47 (Call 05/15/47)		1,040		1,141,328
5.35%, 07/15/33		125		164,613
5.95%, 12/01/34		40		55,318
5.95%, 05/15/35^(b)		441		608,762
6.50%, 06/15/38		776		1,104,881


Security	Par (000)		Value

Oil & Gas (continued)
6.80%, 05/15/38	$	797	$	1,162,424
6.85%, 06/01/39		923		1,355,442
7.15%, 02/01/32		400		589,215
Thaioil Treasury Center Co. Ltd., 5.38%, 11/20/48^(a)		600		810,750
Tosco Corp., 8.13%, 02/15/30		61		89,378
Total Capital International SA, 3.46%, 07/12/49 (Call 01/12/49)		1,301		1,418,896
Valero Energy Corp.
4.90%, 03/15/45^(b)		809		926,472
6.63%, 06/15/37		1,439		1,954,509
7.50%, 04/15/32		655		903,868
10.50%, 03/15/39		129		224,231


				163,318,690

Oil & Gas Services — 0.5%
Baker Hughes a GE Co. LLC, 5.13%, 09/15/40		749		911,074
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc., 4.08%, 12/15/47 (Call 06/15/47)		1,835		1,908,678
Halliburton Co.
4.50%, 11/15/41 (Call 05/15/41)^(b)		200		219,021
4.75%, 08/01/43 (Call 02/01/43)		1,235		1,344,689
4.85%, 11/15/35 (Call 05/15/35)		970		1,120,938
5.00%, 11/15/45 (Call 05/15/45)		1,365		1,481,357
6.70%, 09/15/38		446		614,632
7.45%, 09/15/39		935		1,387,191
National Oilwell Varco Inc., 3.95%, 12/01/42 (Call 06/01/42)^(b)		1,166		1,112,546


				10,100,126

Packaging & Containers — 0.1%
Packaging Corp. of America, 4.05%, 12/15/49 (Call 06/15/49)		485		541,748
Sonoco Products Co., 5.75%, 11/01/40 (Call 05/01/40)		634		852,178
WestRock MWV LLC, 7.95%, 02/15/31		151		215,101
WRKCo Inc., 4.20%, 06/01/32 (Call 03/01/32)^(b)		1,115		1,288,224


				2,897,251

Pharmaceuticals — 6.8%
AbbVie Inc.
4.05%, 11/21/39 (Call 05/21/39)^(a)		3,130		3,467,445
4.25%, 11/21/49 (Call 05/21/49)^(a)		3,795		4,290,727
4.30%, 05/14/36 (Call 11/14/35)^(b)		637		727,645
4.40%, 11/06/42		2,685		3,096,237
4.45%, 05/14/46 (Call 11/14/45)^(b)		2,269		2,617,751
4.50%, 05/14/35 (Call 11/14/34)		2,060		2,424,803
4.70%, 05/14/45 (Call 11/14/44)^(b)		1,981		2,344,067
4.88%, 11/14/48 (Call 05/14/48)		1,475		1,814,851
Allergan Finance LLC, 4.63%, 10/01/42 (Call 04/01/42)		400		451,536
Allergan Funding SCS
4.55%, 03/15/35 (Call 09/15/34)		2,015		2,410,384
4.75%, 03/15/45 (Call 09/15/44)		894		1,087,754
4.85%, 06/15/44 (Call 12/15/43)		1,060		1,287,990
AmerisourceBergen Corp.
4.25%, 03/01/45 (Call 09/01/44)		200		218,560
4.30%, 12/15/47 (Call 06/15/47)^(b)		585		663,488
AstraZeneca PLC
4.00%, 09/18/42		433		517,705
4.38%, 11/16/45		520		674,160
4.38%, 08/17/48 (Call 02/17/48)		1,058		1,350,128
6.45%, 09/15/37		2,150		3,183,468
Bayer U.S. Finance II LLC
3.95%, 04/15/45 (Call 10/15/44)^(a)		585		612,897


Security	Par (000)		Value

Pharmaceuticals (continued)
4.20%, 07/15/34 (Call 01/15/34)^(a)	$	846	$	951,575
4.40%, 07/15/44 (Call 01/15/44)^(a)		437		485,161
4.63%, 06/25/38 (Call 12/25/37)^(a)		1,287		1,552,393
4.65%, 11/15/43 (Call 05/15/43)^(a)		74		81,304
4.70%, 07/15/64 (Call 01/15/64)^(a)		1,050		1,160,496
4.88%, 06/25/48 (Call 12/25/47)^(a)(b)		890		1,081,564
5.50%, 07/30/35^(a)		100		126,009
Becton Dickinson and Co.
4.67%, 06/06/47 (Call 12/06/46)		1,575		1,993,903
4.69%, 12/15/44 (Call 06/15/44)		1,039		1,295,158
Bristol-Myers Squibb Co.
3.25%, 08/01/42		709		788,279
4.13%, 06/15/39 (Call 12/15/38)^(a)		3,013		3,669,401
4.25%, 10/26/49 (Call 04/26/49)^(a)(b)		2,606		3,344,786
4.35%, 11/15/47 (Call 05/15/47)^(a)		610		785,990
4.50%, 03/01/44 (Call 09/01/43)		690		907,180
4.55%, 02/20/48 (Call 08/20/47)^(a)		1,340		1,767,539
4.63%, 05/15/44 (Call 11/15/43)^(a)		385		500,744
5.00%, 08/15/45 (Call 02/15/45)^(a)		2,059		2,818,473
5.25%, 08/15/43^(a)		430		588,331
Cardinal Health Inc.
4.37%, 06/15/47 (Call 12/15/46)		495		536,338
4.50%, 11/15/44 (Call 05/15/44)		535		572,553
4.60%, 03/15/43		470		509,591
4.90%, 09/15/45 (Call 03/15/45)		415		469,255
Cigna Corp.
3.88%, 10/15/47 (Call 04/15/47)^(a)		1,117		1,181,714
4.80%, 08/15/38 (Call 02/15/38)		1,800		2,163,125
4.80%, 07/15/46 (Call 01/16/46)^(a)(b)		1,460		1,754,919
4.90%, 12/15/48 (Call 06/15/48)		1,905		2,361,515
5.38%, 02/15/42 (Call 08/15/41)^(a)		675		826,099
6.13%, 11/15/41^(a)		205		279,615
CVS Health Corp.
4.78%, 03/25/38 (Call 09/25/37)^(b)		3,985		4,687,855
4.88%, 07/20/35 (Call 01/20/35)		1,195		1,444,646
5.05%, 03/25/48 (Call 09/25/47)		6,255		7,691,349
5.13%, 07/20/45 (Call 01/20/45)		2,770		3,385,973
5.30%, 12/05/43 (Call 06/05/43)		883		1,091,918
Eli Lilly & Co.
3.88%, 03/15/39 (Call 09/15/38)		1,550		1,917,434
3.95%, 05/15/47 (Call 11/15/46)		675		834,164
3.95%, 03/15/49 (Call 09/15/48)		1,450		1,781,700
4.15%, 03/15/59 (Call 09/15/58)		718		902,316
5.95%, 11/15/37		50		74,705
GlaxoSmithKline Capital Inc.
4.20%, 03/18/43		535		675,489
5.38%, 04/15/34^(b)		620		866,324
6.38%, 05/15/38		2,200		3,400,708
Johnson & Johnson
3.40%, 01/15/38 (Call 07/15/37)		1,040		1,184,789
3.50%, 01/15/48 (Call 07/15/47)		911		1,086,847
3.55%, 03/01/36 (Call 09/01/35)		1,024		1,198,376
3.63%, 03/03/37 (Call 09/03/36)^(b)		1,015		1,168,366
3.70%, 03/01/46 (Call 09/01/45)^(b)		1,225		1,487,971
3.75%, 03/03/47 (Call 09/03/46)		1,075		1,321,001
4.38%, 12/05/33 (Call 06/05/33)		1,014		1,271,682
4.50%, 09/01/40^(b)		360		476,557
4.50%, 12/05/43 (Call 06/05/43)		275		357,099
4.85%, 05/15/41		386		519,399
4.95%, 05/15/33		496		653,180


Security	Par (000)		Value

Pharmaceuticals (continued)
5.85%, 07/15/38	$	105	$	156,480
5.95%, 08/15/37		830		1,260,161
McKesson Corp., 4.88%, 03/15/44 (Call 09/15/43)		450		536,762
Mead Johnson Nutrition Co.
4.60%, 06/01/44 (Call 12/01/43)		513		656,313
5.90%, 11/01/39		340		497,683
Merck & Co. Inc.
3.60%, 09/15/42 (Call 03/15/42)		730		862,256
3.70%, 02/10/45 (Call 08/10/44)		2,330		2,762,292
3.90%, 03/07/39 (Call 09/07/38)		1,240		1,480,919
4.00%, 03/07/49 (Call 09/07/48)		720		910,152
4.15%, 05/18/43		1,710		2,167,439
6.55%, 09/15/37^(b)		75		115,452
Merck Sharp & Dohme Corp., 5.75%, 11/15/36		25		34,770
Mylan Inc.
5.20%, 04/15/48 (Call 10/15/47)		620		733,879
5.40%, 11/29/43 (Call 05/29/43)		585		705,386
Mylan NV, 5.25%, 06/15/46 (Call 12/15/45)		865		1,038,772
Novartis Capital Corp.
2.75%, 08/14/50 (Call 02/14/50)		1,000		1,036,488
3.70%, 09/21/42		255		303,056
4.00%, 11/20/45 (Call 05/20/45)		505		630,375
4.40%, 05/06/44		2,026		2,600,203
Perrigo Finance Unlimited Co., 4.90%, 12/15/44 (Call 06/15/44)		400		430,325
Pfizer Inc.
3.90%, 03/15/39 (Call 09/15/38)		695		829,879
4.00%, 12/15/36		855		1,040,935
4.00%, 03/15/49 (Call 09/15/48)^(b)		660		819,630
4.10%, 09/15/38 (Call 03/15/38)		595		728,816
4.13%, 12/15/46		754		917,077
4.20%, 09/15/48 (Call 03/15/48)		1,365		1,693,409
4.30%, 06/15/43		726		934,125
4.40%, 05/15/44		1,165		1,490,366
5.60%, 09/15/40		465		666,472
7.20%, 03/15/39		1,750		2,967,539
Wyeth LLC
5.95%, 04/01/37		860		1,261,203
6.00%, 02/15/36		451		655,212
6.50%, 02/01/34		764		1,143,185
Zoetis Inc.
3.95%, 09/12/47 (Call 03/12/47)		721		849,347
4.45%, 08/20/48 (Call 02/20/48)		380		489,352
4.70%, 02/01/43 (Call 08/01/42)		1,276		1,646,340


				144,326,504

Pipelines — 4.4%
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, 11/02/47^(a)		1,900		2,227,750
Cameron LNG LLC, 3.30%, 01/15/35 (Call 09/15/34)^(a)(b)		1,350		1,454,101
Colonial Pipeline Co.
4.25%, 04/15/48 (Call 10/15/47)^(a)		355		412,710
7.63%, 04/15/32^(a)		85		126,450
Columbia Pipeline Group Inc., 5.80%, 06/01/45 (Call 12/01/44)^(b)		630		849,043
El Paso Natural Gas Co. LLC, 8.38%, 06/15/32		50		71,551
Enable Midstream Partners LP, 5.00%, 05/15/44 (Call 11/15/43)		380		337,605
Enbridge Energy Partners LP
5.50%, 09/15/40 (Call 03/15/40)		638		823,270
7.38%, 10/15/45 (Call 04/15/45)		295		467,035
Series B, 7.50%, 04/15/38		250		383,134


Security	Par (000)		Value

Pipelines (continued)
Enbridge Inc.
4.00%, 11/15/49 (Call 05/15/49)^(b)	$	325	$	358,238
4.50%, 06/10/44 (Call 12/10/43)		860		991,486
5.50%, 12/01/46 (Call 05/29/46)		580		771,505
Energy Transfer Operating LP
4.90%, 03/15/35 (Call 09/15/34)		650		710,947
5.00%, 05/15/50 (Call 11/15/49)		1,690		1,706,589
5.15%, 02/01/43 (Call 08/01/42)		435		451,696
5.15%, 03/15/45 (Call 09/15/44)		791		825,696
5.30%, 04/15/47 (Call 10/15/46)		970		1,007,270
5.95%, 10/01/43 (Call 04/01/43)		455		506,777
6.05%, 06/01/41 (Call 12/01/40)		100		111,233
6.13%, 12/15/45 (Call 06/15/45)		938		1,058,246
6.25%, 04/15/49 (Call 10/15/48)		1,275		1,475,523
6.50%, 02/01/42 (Call 08/01/41)		800		964,098
6.63%, 10/15/36		205		246,512
7.50%, 07/01/38		290		380,880
Series 20Y, 5.80%, 06/15/38 (Call 12/15/37)		100		114,138
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)^(b)		520		585,432
Enterprise Products Operating LLC
3.70%, 01/31/51 (Call 07/31/50)		500		497,886
3.95%, 01/31/60 (Call 07/31/59)		550		538,110
4.20%, 01/31/50 (Call 07/31/49)		1,385		1,457,308
4.25%, 02/15/48 (Call 08/15/47)		1,010		1,081,131
4.45%, 02/15/43 (Call 08/15/42)		935		1,033,018
4.80%, 02/01/49 (Call 08/01/48)		795		926,468
4.85%, 08/15/42 (Call 02/15/42)		698		812,067
4.85%, 03/15/44 (Call 09/15/43)		1,425		1,674,785
4.90%, 05/15/46 (Call 11/15/45)^(b)		765		893,814
4.95%, 10/15/54 (Call 04/15/54)		675		777,442
5.10%, 02/15/45 (Call 08/15/44)		850		1,009,872
5.70%, 02/15/42		749		932,445
5.95%, 02/01/41		590		764,533
6.13%, 10/15/39		410		562,906
6.45%, 09/01/40		100		138,554
7.55%, 04/15/38		250		373,633
Series D, 6.88%, 03/01/33		633		897,175
Series H, 6.65%, 10/15/34		141		198,793
Series J, 5.75%, 03/01/35		75		94,132
Gulfstream Natural Gas System LLC, 5.95%, 10/15/45 (Call 04/15/45)^(a)		200		239,994
Kinder Morgan Energy Partners LP
4.70%, 11/01/42 (Call 05/01/42)		340		360,248
5.00%, 08/15/42 (Call 02/15/42)^(b)		510		553,243
5.00%, 03/01/43 (Call 09/01/42)		575		627,038
5.40%, 09/01/44 (Call 03/01/44)		465		539,038
5.50%, 03/01/44 (Call 09/01/43)		390		465,539
5.63%, 09/01/41		70		80,401
5.80%, 03/15/35		300		362,770
6.38%, 03/01/41		565		706,960
6.50%, 02/01/37		200		251,859
6.50%, 09/01/39		342		435,859
6.55%, 09/15/40		235		303,962
6.95%, 01/15/38		1,375		1,842,891
7.30%, 08/15/33		51		70,236
7.40%, 03/15/31		148		197,494
7.50%, 11/15/40		370		506,971
7.75%, 03/15/32		100		141,726
Kinder Morgan Inc./DE
5.05%, 02/15/46 (Call 08/15/45)^(b)		1,081		1,227,571


Security	Par (000)		Value

Pipelines (continued)
5.20%, 03/01/48 (Call 09/01/47)	$	539	$	638,293
5.30%, 12/01/34 (Call 06/01/34)		1,590		1,893,276
5.55%, 06/01/45 (Call 12/01/44)		1,370		1,628,227
7.75%, 01/15/32		1,102		1,606,489
Magellan Midstream Partners LP
3.95%, 03/01/50 (Call 09/01/49)		485		508,048
4.20%, 03/15/45 (Call 09/15/44)		255		271,780
4.20%, 10/03/47 (Call 04/03/47)		805		905,219
4.25%, 09/15/46 (Call 03/15/46)		235		255,205
4.85%, 02/01/49 (Call 08/01/48)^(b)		653		785,040
5.15%, 10/15/43 (Call 04/15/43)		535		655,122
MPLX LP
4.50%, 04/15/38 (Call 10/15/37)		1,982		2,016,814
4.70%, 04/15/48 (Call 10/15/47)		825		835,720
4.90%, 04/15/58 (Call 10/15/57)		365		364,644
5.20%, 03/01/47 (Call 09/01/46)		874		947,398
5.20%, 12/01/47 (Call 06/01/47)^(a)		259		271,913
5.50%, 02/15/49 (Call 08/15/48)		1,665		1,891,467
NGPL PipeCo LLC, 7.77%, 12/15/37^(a)(b)		455		597,374
Northern Natural Gas Co., 4.30%, 01/15/49 (Call 07/15/48)^(a)		270		327,118
ONEOK Inc.
4.45%, 09/01/49 (Call 03/01/49)^(b)		930		953,427
4.95%, 07/13/47 (Call 01/06/47)		895		983,100
5.20%, 07/15/48 (Call 01/15/48)		909		1,038,138
6.00%, 06/15/35^(b)		230		288,992
ONEOK Partners LP
6.13%, 02/01/41 (Call 08/01/40)		618		769,315
6.20%, 09/15/43 (Call 03/15/43)		295		369,866
6.65%, 10/01/36		210		275,894
6.85%, 10/15/37		300		402,109
Phillips 66 Partners LP
4.68%, 02/15/45 (Call 08/15/44)		185		209,662
4.90%, 10/01/46 (Call 04/01/46)		690		784,333
Plains All American Pipeline LP/PAA Finance Corp.
4.30%, 01/31/43 (Call 07/31/42)		330		298,982
4.70%, 06/15/44 (Call 12/15/43)		777		718,956
4.90%, 02/15/45 (Call 08/15/44)		860		852,099
5.15%, 06/01/42 (Call 12/01/41)		255		261,414
6.65%, 01/15/37		344		415,831
Rockies Express Pipeline LLC
6.88%, 04/15/40^(a)		75		76,812
7.50%, 07/15/38^(a)		295		327,534
Sabal Trail Transmission LLC
4.68%, 05/01/38 (Call 11/01/37)^(a)		205		243,268
4.83%, 05/01/48 (Call 11/01/47)^(a)		165		197,947
Southern Natural Gas Co. LLC
4.80%, 03/15/47 (Call 09/15/46)^(a)		160		192,957
8.00%, 03/01/32^(b)		150		220,990
Spectra Energy Partners LP
4.50%, 03/15/45 (Call 09/15/44)		570		657,741
5.95%, 09/25/43 (Call 03/25/43)		620		803,085
Sunoco Logistics Partners Operations LP
4.95%, 01/15/43 (Call 07/15/42)		260		258,745
5.30%, 04/01/44 (Call 10/01/43)		591		619,388
5.35%, 05/15/45 (Call 11/15/44)		1,275		1,367,880
5.40%, 10/01/47 (Call 04/01/47)		1,315		1,389,513
6.10%, 02/15/42		225		256,249


Security	Par (000)		Value

Pipelines (continued)
Texas Eastern Transmission LP
4.15%, 01/15/48 (Call 07/15/47)^(a)	$	463	$	517,061
7.00%, 07/15/32		340		482,735
TransCanada PipeLines Ltd.
4.63%, 03/01/34 (Call 12/01/33)		1,295		1,518,397
4.75%, 05/15/38 (Call 11/15/37)		350		398,072
4.88%, 05/15/48 (Call 11/15/47)		1,255		1,504,276
5.00%, 10/16/43 (Call 04/16/43)		1,041		1,291,305
5.10%, 03/15/49 (Call 09/15/48)		800		996,324
5.60%, 03/31/34		250		318,463
5.85%, 03/15/36		250		324,628
6.10%, 06/01/40		485		677,290
6.20%, 10/15/37		653		885,221
7.25%, 08/15/38		430		650,590
7.63%, 01/15/39		771		1,205,384
Transcontinental Gas Pipe Line Co. LLC
4.45%, 08/01/42 (Call 02/01/42)		300		321,441
4.60%, 03/15/48 (Call 09/15/47)		790		873,748
5.40%, 08/15/41 (Call 02/15/41)		151		177,050
Western Midstream Operating LP
5.25%, 02/01/50 (Call 08/01/49)		750		695,650
5.30%, 03/01/48 (Call 09/01/47)		395		357,491
5.45%, 04/01/44 (Call 10/01/43)		425		400,326
5.50%, 08/15/48 (Call 02/15/48)		100		93,081
Williams Companies Inc. (The)
4.85%, 03/01/48 (Call 09/01/47)		515		542,498
4.90%, 01/15/45 (Call 07/15/44)		1,020		1,091,782
5.10%, 09/15/45 (Call 03/15/45)^(b)		1,129		1,236,490
5.40%, 03/04/44 (Call 09/04/43)		735		834,461
5.75%, 06/24/44 (Call 12/24/43)		390		461,920
5.80%, 11/15/43 (Call 05/15/43)		75		91,379
6.30%, 04/15/40		710		875,394
8.75%, 03/15/32		125		190,121
Series A, 7.50%, 01/15/31^(b)		105		141,230


				93,783,969

Private Equity — 0.1%
Apollo Management Holdings LP, 5.00%, 03/15/48 (Call 09/15/47)^(a)(b)		85		107,161
Carlyle Finance LLC, 5.65%, 09/15/48 (Call 03/15/48)^(a)(b).		325		423,807
KKR Group Finance Co. III LLC, 5.13%, 06/01/44 (Call 12/01/43)^(a)		855		1,080,254


				1,611,222

Real Estate Investment Trusts — 1.4%
Alexandria Real Estate Equities Inc.
3.38%, 08/15/31 (Call 05/15/31)^(b)		2,150		2,390,414
4.00%, 02/01/50 (Call 08/01/49)		310		376,158
4.70%, 07/01/30 (Call 04/01/30)		975		1,180,770
4.85%, 04/15/49 (Call 10/15/48)		360		482,734
American Tower Corp., 3.70%, 10/15/49 (Call 04/15/49)		200		213,162
AvalonBay Communities Inc.
3.90%, 10/15/46 (Call 04/15/46)		581		702,402
4.15%, 07/01/47 (Call 01/01/47)		175		218,036
4.35%, 04/15/48 (Call 10/15/47)		50		64,655
Camden Property Trust, 3.35%, 11/01/49 (Call 05/01/49)^(b)		725		798,810
Crown Castle International Corp.
4.00%, 11/15/49 (Call 05/15/49)		410		459,840
4.75%, 05/15/47 (Call 11/15/46)		110		135,985
5.20%, 02/15/49 (Call 08/15/48)		702		910,320


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Duke Realty LP, 3.05%, 03/01/50 (Call 09/01/49)	$	750	$	762,092
ERP Operating LP
4.00%, 08/01/47 (Call 02/01/47)		35		41,436
4.50%, 07/01/44 (Call 01/01/44)		413		537,481
4.50%, 06/01/45 (Call 12/01/44)		575		730,855
Essex Portfolio LP
2.65%, 03/15/32 (Call 12/15/31)		50		51,304
4.50%, 03/15/48 (Call 09/15/47)		355		451,631
Federal Realty Investment Trust
3.63%, 08/01/46 (Call 02/01/46)^(b)		475		521,568
4.50%, 12/01/44 (Call 06/01/44)		547		686,038
Healthpeak Properties Inc., 6.75%, 02/01/41 (Call 08/01/40)		205		314,896
Kimco Realty Corp.
3.70%, 10/01/49 (Call 04/01/49)		645		691,166
4.13%, 12/01/46 (Call 06/01/46)		51		57,410
4.25%, 04/01/45 (Call 10/01/44)		430		501,237
4.45%, 09/01/47 (Call 03/01/47)		450		532,161
Prologis LP
3.00%, 04/15/50 (Call 10/15/49)		95		96,902
4.38%, 09/15/48 (Call 03/15/48)		235		311,246
Realty Income Corp., 4.65%, 03/15/47 (Call 09/15/46)		520		701,949
Regency Centers LP
4.40%, 02/01/47 (Call 08/01/46)		385		479,237
4.65%, 03/15/49 (Call 09/15/48)		610		795,853
Service Properties Trust, 4.38%, 02/15/30 (Call 08/15/29)^(b)		425		431,082
Simon Property Group LP
3.25%, 09/13/49 (Call 03/13/49)		1,130		1,182,466
4.25%, 10/01/44 (Call 04/01/44)		535		652,765
4.25%, 11/30/46 (Call 05/30/46)^(b)		245		301,969
4.75%, 03/15/42 (Call 09/15/41)		555		696,854
6.75%, 02/01/40 (Call 11/01/39)		655		1,009,213
Trust F/1401
6.39%, 01/15/50 (Call 07/28/49)^(a)		800		938,000
6.95%, 01/30/44 (Call 07/30/43)^(a)		200		251,437
UDR Inc.
3.00%, 08/15/31 (Call 05/15/31)		1,715		1,793,447
3.10%, 11/01/34 (Call 08/01/34)		195		207,172
3.20%, 01/15/30 (Call 10/15/29)		250		264,250
Ventas Realty LP
4.38%, 02/01/45 (Call 08/01/44)		557		658,436
4.88%, 04/15/49 (Call 10/15/48)		223		288,473
5.70%, 09/30/43 (Call 03/30/43)		241		333,213
WEA Finance LLC, 4.63%, 09/20/48 (Call 03/20/48)^(a)(b)		100		124,658
WEA Finance LLC/Westfield UK & Europe Finance PLC, 4.75%, 09/17/44 (Call 03/17/44)^(a)		870		1,089,141
Welltower Inc.
4.95%, 09/01/48 (Call 03/01/48)		460		596,556
6.50%, 03/15/41 (Call 09/15/40)		495		733,315
Weyerhaeuser Co.
6.88%, 12/15/33		554		777,496
7.38%, 03/15/32		1,350		1,960,700


				30,488,391

Retail — 2.9%
Alimentation Couche-Tard Inc.
3.80%, 01/25/50 (Call 07/25/49)^(a)		280		277,327
4.50%, 07/26/47 (Call 01/26/47)^(a)		385		436,185
Darden Restaurants Inc., 4.55%, 02/15/48 (Call 08/15/47)		505		549,678


Security	Par (000)		Value

Retail (continued)
Home Depot Inc. (The)
3.13%, 12/15/49 (Call 06/15/49)	$	320	$	340,529
3.50%, 09/15/56 (Call 03/15/56)^(b)		280		316,713
3.90%, 06/15/47 (Call 12/15/46)		915		1,116,665
4.20%, 04/01/43 (Call 10/01/42)		816		1,005,030
4.25%, 04/01/46 (Call 10/01/45)		1,520		1,912,815
4.40%, 03/15/45 (Call 09/15/44)		1,150		1,452,571
4.50%, 12/06/48 (Call 06/06/48)		1,117		1,463,630
4.88%, 02/15/44 (Call 08/15/43)		1,125		1,531,240
5.40%, 09/15/40 (Call 03/15/40)		171		237,452
5.88%, 12/16/36		2,273		3,282,605
5.95%, 04/01/41 (Call 10/01/40)		1,105		1,647,930
Kohl’s Corp., 5.55%, 07/17/45 (Call 01/17/45)		555		594,062
Lowe’s Companies Inc.
3.70%, 04/15/46 (Call 10/15/45)		930		993,372
4.05%, 05/03/47 (Call 11/03/46)^(b)		932		1,049,101
4.25%, 09/15/44 (Call 03/15/44)^(b)		750		850,552
4.38%, 09/15/45 (Call 03/15/45)		480		561,183
4.55%, 04/05/49 (Call 10/05/48)^(b)		1,070		1,310,337
4.65%, 04/15/42 (Call 10/15/41)		421		514,596
5.00%, 09/15/43 (Call 03/15/43)		30		36,398
Macy’s Retail Holdings Inc.
4.30%, 02/15/43 (Call 08/15/42)		340		274,017
4.50%, 12/15/34 (Call 06/15/34)		222		205,455
5.13%, 01/15/42 (Call 07/15/41)		105		94,443
Marks & Spencer PLC, 7.13%, 12/01/37^(a)		135		160,268
McDonald’s Corp.
3.63%, 05/01/43		736		789,387
3.63%, 09/01/49 (Call 03/01/49)^(b)		500		543,400
3.70%, 02/15/42		835		909,908
4.45%, 03/01/47 (Call 09/01/46)		410		498,382
4.45%, 09/01/48 (Call 03/01/48)		847		1,036,075
4.60%, 05/26/45 (Call 11/26/44)^(b)		985		1,228,112
4.70%, 12/09/35 (Call 06/09/35)		1,403		1,759,307
4.88%, 07/15/40		146		181,543
4.88%, 12/09/45 (Call 06/09/45)		1,045		1,352,370
5.70%, 02/01/39		480		657,349
6.30%, 10/15/37		598		869,046
6.30%, 03/01/38		439		635,481
Nordstrom Inc., 5.00%, 01/15/44 (Call 07/15/43)^(b)		785		793,990
Starbucks Corp.
3.75%, 12/01/47 (Call 06/01/47)		735		808,779
4.30%, 06/15/45 (Call 12/10/44)		515		610,006
4.45%, 08/15/49 (Call 02/15/49)		485		588,795
4.50%, 11/15/48 (Call 05/15/48)		880		1,046,366
Target Corp.
3.63%, 04/15/46^(b)		730		837,805
3.90%, 11/15/47 (Call 05/15/47)		269		324,234
4.00%, 07/01/42		638		778,571
6.35%, 11/01/32^(b)		1,120		1,593,253
6.50%, 10/15/37		500		785,572
7.00%, 01/15/38		600		969,804
Tiffany & Co., 4.90%, 10/01/44 (Call 04/01/44)		379		508,775
Walgreen Co., 4.40%, 09/15/42		1,180		1,206,905
Walgreens Boots Alliance Inc.
4.50%, 11/18/34 (Call 05/18/34)^(b)		1,033		1,118,475
4.65%, 06/01/46 (Call 12/01/45)		285		297,963
4.80%, 11/18/44 (Call 05/18/44)		790		823,955
Walmart Inc.
2.95%, 09/24/49 (Call 03/24/49)		300		321,988


Security	Par (000)		Value

Retail (continued)
3.63%, 12/15/47 (Call 06/15/47)	$	1,795	$	2,147,762
3.95%, 06/28/38 (Call 12/28/37)		2,163		2,633,957
4.00%, 04/11/43 (Call 10/11/42)		685		839,956
4.05%, 06/29/48 (Call 12/29/47)		2,780		3,501,288
4.30%, 04/22/44 (Call 10/22/43)		345		433,612
4.75%, 10/02/43 (Call 04/02/43)		360		476,792
5.00%, 10/25/40		430		594,337
5.25%, 09/01/35		1,520		2,137,601
5.63%, 04/01/40		350		515,135
5.63%, 04/15/41		743		1,114,334
6.20%, 04/15/38		535		824,579
6.50%, 08/15/37		170		265,253


				61,574,356

Semiconductors — 1.1%
Analog Devices Inc.
4.50%, 12/05/36 (Call 06/05/36)		655		761,764
5.30%, 12/15/45 (Call 06/15/45)		220		294,836
Applied Materials Inc.
4.35%, 04/01/47 (Call 10/01/46)		881		1,150,605
5.10%, 10/01/35 (Call 04/01/35)^(b)		435		591,652
5.85%, 06/15/41		925		1,379,936
Intel Corp.
3.10%, 02/15/60 (Call 08/15/59)		260		267,279
3.25%, 11/15/49 (Call 05/15/49)		2,265		2,473,041
3.73%, 12/08/47 (Call 06/08/47)		1,459		1,719,929
4.00%, 12/15/32		1,920		2,316,253
4.10%, 05/19/46 (Call 11/19/45)		1,050		1,276,248
4.10%, 05/11/47 (Call 11/11/46)		1,065		1,300,111
4.25%, 12/15/42^(b)		300		374,275
4.80%, 10/01/41		460		613,004
4.90%, 07/29/45 (Call 01/29/45)		290		390,339
KLA Corp.
3.30%, 03/01/50 (Call 08/28/49)		350		343,695
5.00%, 03/15/49 (Call 09/15/48)		411		536,030
5.65%, 11/01/34 (Call 07/01/34)		225		281,332
Lam Research Corp., 4.88%, 03/15/49 (Call 09/15/48)		565		743,772
QUALCOMM Inc.
4.30%, 05/20/47 (Call 11/20/46)		1,231		1,477,770
4.65%, 05/20/35 (Call 11/20/34)		1,053		1,314,232
4.80%, 05/20/45 (Call 11/20/44)		1,210		1,536,551
Texas Instruments Inc.
3.88%, 03/15/39 (Call 09/15/38)		200		240,269
4.15%, 05/15/48 (Call 11/15/47)		1,270		1,612,372


				22,995,295

Software — 2.7%
Activision Blizzard Inc., 4.50%, 06/15/47 (Call 12/15/46)		595		748,598
Fidelity National Information Services Inc., Series 30Y, 4.75%, 05/15/48 (Call 11/15/47)		65		84,630
Fiserv Inc., 4.40%, 07/01/49 (Call 01/01/49)		1,765		2,111,884
Microsoft Corp.
3.45%, 08/08/36 (Call 02/08/36)		1,135		1,310,225
3.50%, 02/12/35 (Call 08/12/34)		1,010		1,174,973
3.50%, 11/15/42^(b)		730		851,556
3.70%, 08/08/46 (Call 02/08/46)		2,735		3,320,814
3.75%, 05/01/43 (Call 11/01/42)		375		448,080
3.75%, 02/12/45 (Call 08/12/44)		1,405		1,707,260
3.95%, 08/08/56 (Call 02/08/56)		2,400		3,052,101
4.00%, 02/12/55 (Call 08/12/54)		1,650		2,088,106
4.10%, 02/06/37 (Call 08/06/36)		1,755		2,176,807


Security	Par (000)		Value

Software (continued)
4.20%, 11/03/35 (Call 05/03/35)	$	1,245	$	1,554,973
4.25%, 02/06/47 (Call 08/06/46)		1,386		1,817,842
4.45%, 11/03/45 (Call 05/03/45)		2,279		3,047,076
4.50%, 10/01/40		1,340		1,750,163
4.50%, 02/06/57 (Call 08/06/56)		1,900		2,640,326
4.75%, 11/03/55 (Call 05/03/55)^(b)		630		899,945
4.88%, 12/15/43 (Call 06/15/43)		580		802,904
5.20%, 06/01/39		807		1,150,812
5.30%, 02/08/41		1,025		1,479,052
Oracle Corp.
3.25%, 05/15/30 (Call 02/15/30)^(b)		950		1,053,493
3.80%, 11/15/37 (Call 05/15/37)		2,690		3,109,199
3.85%, 07/15/36 (Call 01/15/36)		1,185		1,372,560
3.90%, 05/15/35 (Call 11/15/34)		1,615		1,886,073
4.00%, 07/15/46 (Call 01/15/46)^(b)		1,690		2,011,508
4.00%, 11/15/47 (Call 05/15/47)		2,025		2,451,025
4.13%, 05/15/45 (Call 11/15/44)		1,135		1,380,994
4.30%, 07/08/34 (Call 01/08/34)		1,698		2,083,993
4.38%, 05/15/55 (Call 11/15/54)		1,224		1,561,499
4.50%, 07/08/44 (Call 01/08/44)		570		723,755
5.38%, 07/15/40^(b)		1,240		1,704,628
6.13%, 07/08/39		1,165		1,737,681
6.50%, 04/15/38		866		1,316,253


				56,610,788

Telecommunications — 7.2%
America Movil SAB de CV
4.38%, 07/16/42^(b)		753		920,072
4.38%, 04/22/49 (Call 10/22/48)		1,250		1,563,672
6.13%, 11/15/37		125		177,969
6.13%, 03/30/40		1,526		2,229,318
6.38%, 03/01/35^(b)		400		573,000
AT&T Inc.
4.30%, 12/15/42 (Call 06/15/42)		1,235		1,385,666
4.35%, 06/15/45 (Call 12/15/44)		1,925		2,169,374
4.50%, 05/15/35 (Call 11/15/34)		2,345		2,731,062
4.50%, 03/09/48 (Call 09/09/47)^(b)		4,395		5,038,408
4.55%, 03/09/49 (Call 09/09/48)		1,695		1,963,370
4.65%, 06/01/44 (Call 12/01/43)		635		715,347
4.75%, 05/15/46 (Call 11/15/45)		2,185		2,562,768
4.80%, 06/15/44 (Call 12/15/43)		1,800		2,129,344
4.85%, 03/01/39 (Call 09/01/38)^(b)		1,881		2,256,834
4.85%, 07/15/45 (Call 01/15/45)		836		975,715
4.90%, 08/15/37 (Call 02/14/37)		1,155		1,379,710
4.90%, 06/15/42^(b)		475		560,460
5.15%, 03/15/42		1,115		1,360,094
5.15%, 11/15/46 (Call 05/15/46)		1,285		1,590,186
5.15%, 02/15/50 (Call 08/14/49)^(b)		2,254		2,798,245
5.25%, 03/01/37 (Call 09/01/36)		1,620		2,004,738
5.30%, 08/15/58 (Call 02/14/58)^(b)		865		1,125,463
5.35%, 09/01/40		1,605		2,041,584
5.35%, 12/15/43		225		277,864
5.38%, 10/15/41		440		544,691
5.45%, 03/01/47 (Call 09/01/46)		1,285		1,669,761
5.55%, 08/15/41		411		531,909
5.65%, 02/15/47 (Call 08/15/46)		1,110		1,481,306
5.70%, 03/01/57 (Call 09/01/56)		704		971,478
6.00%, 08/15/40 (Call 05/15/40)		1,155		1,555,712
6.10%, 07/15/40		100		134,340
6.15%, 09/15/34		50		67,019
6.20%, 03/15/40		100		135,432


Security	Par (000)		Value

Telecommunications (continued)
6.25%, 03/29/41	$	250	$	337,260
6.30%, 01/15/38		100		138,079
6.35%, 03/15/40		1,486		2,043,906
6.38%, 03/01/41		1,089		1,483,029
6.45%, 06/15/34		25		33,157
6.55%, 02/15/39		350		496,657
Bell Canada Inc.
4.30%, 07/29/49 (Call 01/29/49)		850		1,029,659
4.46%, 04/01/48 (Call 10/01/47)^(b)		874		1,087,405
British Telecommunications PLC
4.25%, 11/08/49 (Call 05/08/49)^(a)		605		652,117
9.63%, 12/15/30		2,697		4,273,784
Cisco Systems Inc.
5.50%, 01/15/40		1,430		2,080,490
5.90%, 02/15/39		1,840		2,737,808
Corning Inc.
3.90%, 11/15/49 (Call 05/15/49)		649		686,293
4.38%, 11/15/57 (Call 05/15/57)		380		414,125
4.70%, 03/15/37		165		193,460
4.75%, 03/15/42		535		619,366
5.35%, 11/15/48 (Call 05/15/48)^(b)		440		567,837
5.45%, 11/15/79 (Call 05/15/79)		1,100		1,227,467
5.75%, 08/15/40		250		320,696
5.85%, 11/15/68 (Call 05/15/68)		50		61,298
7.25%, 08/15/36 (Call 08/15/26)		100		125,899
Deutsche Telekom AG, 3.63%, 01/21/50 (Call 07/21/49)^(a)		600		634,533
Deutsche Telekom International Finance BV
4.75%, 06/21/38 (Call 12/21/37)^(a)		650		809,606
4.88%, 03/06/42^(a)		345		443,185
8.75%, 06/15/30		2,985		4,521,906
9.25%, 06/01/32		564		932,981
Juniper Networks Inc., 5.95%, 03/15/41		440		542,593
Motorola Solutions Inc., 5.50%, 09/01/44^(b)		705		835,379
Ooredoo International Finance Ltd., 4.50%, 01/31/43^(a)(b)		520		622,863
Orange SA
5.38%, 01/13/42^(b)		580		807,938
5.50%, 02/06/44 (Call 08/06/43)		510		743,269
9.00%, 03/01/31		3,077		4,930,723
Rogers Communications Inc.
3.70%, 11/15/49 (Call 05/15/49)		815		889,487
4.30%, 02/15/48 (Call 08/15/47)		970		1,145,821
4.35%, 05/01/49 (Call 11/01/48)		788		935,076
4.50%, 03/15/43 (Call 09/15/42)		695		823,081
5.00%, 03/15/44 (Call 09/15/43)^(b)		615		793,046
5.45%, 10/01/43 (Call 04/01/43)		294		393,908
7.50%, 08/15/38		240		375,690
SES Global Americas Holdings GP, 5.30%, 03/25/44^(a)(b)		935		1,069,498
Telefonica Emisiones SA
4.67%, 03/06/38		620		718,561
4.90%, 03/06/48		920		1,119,077
5.21%, 03/08/47		2,330		2,862,823
5.52%, 03/01/49 (Call 09/01/48)		505		656,952
7.05%, 06/20/36		1,685		2,429,341
Telefonica Europe BV, 8.25%, 09/15/30^(b)		2,230		3,296,823
TELUS Corp.
4.30%, 06/15/49 (Call 12/15/48)^(b)		765		943,205
4.60%, 11/16/48 (Call 05/16/48)		615		791,481
Verizon Communications Inc.
3.85%, 11/01/42 (Call 05/01/42)		1,235		1,399,429
4.13%, 08/15/46		1,250		1,510,720


Security	Par (000)		Value

Telecommunications (continued)
4.27%, 01/15/36	$	2,690	$	3,231,020
4.40%, 11/01/34 (Call 05/01/34)		2,035		2,485,966
4.50%, 08/10/33		3,340		4,095,372
4.52%, 09/15/48		3,410		4,410,202
4.67%, 03/15/55		485		646,273
4.75%, 11/01/41^(b)		2,033		2,648,440
4.81%, 03/15/39^(b)		1,175		1,507,262
4.86%, 08/21/46		2,052		2,708,745
5.01%, 04/15/49^(b)		3,605		4,976,251
5.25%, 03/16/37^(b)		2,030		2,711,814
5.50%, 03/16/47		1,395		2,040,828
6.55%, 09/15/43		1,120		1,760,673
7.75%, 12/01/30		125		185,355
Vodafone Group PLC
4.25%, 09/17/50		1,730		1,903,954
4.38%, 02/19/43		1,300		1,496,862
4.88%, 06/19/49^(b)		1,095		1,313,165
5.00%, 05/30/38		640		783,782
5.13%, 06/19/59^(b)		90		109,782
5.25%, 05/30/48		2,179		2,746,995
6.15%, 02/27/37		1,873		2,598,244
6.25%, 11/30/32		620		841,400
7.88%, 02/15/30		575		828,653


				152,241,736

Toys, Games & Hobbies — 0.0%
Hasbro Inc.
5.10%, 05/15/44 (Call 11/15/43)^(b)		465		508,181
6.35%, 03/15/40		330		414,354


				922,535

Transportation — 3.3%
Burlington Northern Santa Fe LLC
3.90%, 08/01/46 (Call 02/01/46)		625		734,281
4.05%, 06/15/48 (Call 12/15/47)		535		646,065
4.13%, 06/15/47 (Call 12/15/46)		174		210,902
4.15%, 04/01/45 (Call 10/01/44)		1,315		1,575,992
4.15%, 12/15/48 (Call 06/15/48)		550		668,236
4.38%, 09/01/42 (Call 03/01/42)		525		645,060
4.40%, 03/15/42 (Call 09/15/41)		815		1,003,639
4.45%, 03/15/43 (Call 09/15/42)		606		743,491
4.55%, 09/01/44 (Call 03/01/44)		955		1,185,188
4.70%, 09/01/45 (Call 03/01/45)		885		1,135,237
4.90%, 04/01/44 (Call 10/01/43)		650		859,224
4.95%, 09/15/41 (Call 03/15/41)		434		566,239
5.05%, 03/01/41 (Call 09/01/40)		201		265,247
5.15%, 09/01/43 (Call 03/01/43)		655		885,890
5.40%, 06/01/41 (Call 12/01/40)^(b)		240		329,327
5.75%, 05/01/40 (Call 11/01/39)		815		1,168,546
6.15%, 05/01/37		475		689,802
6.20%, 08/15/36		200		286,408
7.95%, 08/15/30		83		125,889
Canadian National Railway Co.
3.20%, 08/02/46 (Call 02/02/46)		300		330,770
3.65%, 02/03/48 (Call 08/03/47)		1,345		1,539,675
4.45%, 01/20/49 (Call 07/20/48)		520		677,379
4.50%, 11/07/43 (Call 05/07/43)		50		63,095
6.20%, 06/01/36		475		694,438
6.25%, 08/01/34		186		271,300
6.38%, 11/15/37		395		596,957
6.71%, 07/15/36		425		638,371


Security	Par (000)		Value

Transportation (continued)
Canadian Pacific Railway Co.
4.80%, 09/15/35 (Call 03/15/35)	$	267	$	342,904
4.80%, 08/01/45 (Call 02/01/45)		420		566,652
5.75%, 03/15/33^(b)		850		1,133,620
5.95%, 05/15/37		106		153,083
6.13%, 09/15/2115 (Call 03/15/2115)		878		1,422,617
7.13%, 10/15/31		230		336,773
CSX Corp.
2.40%, 02/15/30 (Call 11/15/29)		250		254,742
3.35%, 09/15/49 (Call 03/15/49)		650		681,647
3.80%, 11/01/46 (Call 05/01/46)		578		647,153
3.95%, 05/01/50 (Call 11/01/49)		210		243,386
4.10%, 03/15/44 (Call 09/15/43)		450		517,358
4.25%, 11/01/66 (Call 05/01/66)		631		721,817
4.30%, 03/01/48 (Call 09/01/47)		1,246		1,507,909
4.40%, 03/01/43 (Call 09/01/42)		425		508,878
4.50%, 03/15/49 (Call 09/15/48)		630		789,779
4.50%, 08/01/54 (Call 02/01/54)		200		248,073
4.65%, 03/01/68 (Call 09/01/67)		220		270,467
4.75%, 05/30/42 (Call 11/30/41)		636		796,353
4.75%, 11/15/48 (Call 05/15/48)		85		110,016
5.50%, 04/15/41 (Call 10/15/40)		400		536,397
6.00%, 10/01/36		724		991,848
6.15%, 05/01/37		533		742,682
6.22%, 04/30/40		595		869,035
Empresa de Transporte de Pasajeros Metro SA, 5.00%, 01/25/47 (Call 07/25/46)^(a)		400		475,000
FedEx Corp.
3.88%, 08/01/42		260		262,752
3.90%, 02/01/35		915		995,101
4.05%, 02/15/48 (Call 08/15/47)		1,210		1,228,674
4.10%, 04/15/43		177		183,823
4.10%, 02/01/45		608		622,015
4.40%, 01/15/47 (Call 07/15/46)		675		716,622
4.50%, 02/01/65		25		25,777
4.55%, 04/01/46 (Call 10/01/45)		659		722,900
4.75%, 11/15/45 (Call 05/15/45)		1,040		1,173,981
4.90%, 01/15/34		555		663,446
4.95%, 10/17/48 (Call 04/17/48)		481		547,972
5.10%, 01/15/44		685		802,748
Kansas City Southern
4.20%, 11/15/69 (Call 05/15/69)		560		675,803
4.30%, 05/15/43 (Call 11/15/42)		165		200,025
4.95%, 08/15/45 (Call 02/15/45)		270		352,802
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34^(a)		218		256,944
Norfolk Southern Corp.
3.40%, 11/01/49 (Call 05/01/49)		865		943,278
3.94%, 11/01/47 (Call 05/01/47)		885		1,031,460
3.95%, 10/01/42 (Call 04/01/42)		170		198,513
4.05%, 08/15/52 (Call 02/15/52)		917		1,091,141
4.10%, 05/15/49 (Call 11/15/48)		395		474,400
4.15%, 02/28/48 (Call 08/28/47)^(b)		655		802,571
4.45%, 06/15/45 (Call 12/15/44)		360		447,445
4.65%, 01/15/46 (Call 07/15/45)		520		668,147
4.84%, 10/01/41		845		1,096,027
5.10%, 08/01/2118 (Call 02/01/2118)		385		504,808
Pelabuhan Indonesia II PT, 5.38%, 05/05/45^(a)(b)		400		470,000
Polar Tankers Inc., 5.95%, 05/10/37^(a)		30		38,984


Security	Par (000)		Value

Transportation (continued)
TTX Co.
4.20%, 07/01/46 (Call 01/01/46)^(a)	$	250	$	304,440
4.60%, 02/01/49 (Call 08/01/48)^(a)		250		338,101
Union Pacific Corp.
3.35%, 08/15/46 (Call 02/15/46)		270		278,939
3.38%, 02/01/35 (Call 08/01/34)		575		634,266
3.55%, 08/15/39 (Call 02/15/39)		1,310		1,433,576
3.60%, 09/15/37 (Call 03/15/37)^(b)		650		719,504
3.80%, 10/01/51 (Call 04/01/51)		400		450,183
3.84%, 03/20/60 (Call 09/20/59)^(a)		1,221		1,341,093
3.88%, 02/01/55 (Call 08/01/54)		375		412,624
3.95%, 08/15/59 (Call 02/15/59)		25		28,251
4.00%, 04/15/47 (Call 10/15/46)^(b)		150		171,149
4.05%, 11/15/45 (Call 05/15/45)		500		574,595
4.05%, 03/01/46 (Call 09/01/45)		695		790,217
4.10%, 09/15/67 (Call 03/15/67)		570		657,079
4.15%, 01/15/45 (Call 07/15/44)		405		468,052
4.25%, 04/15/43 (Call 10/15/42)		331		383,545
4.30%, 06/15/42 (Call 12/15/41)		150		177,438
4.30%, 03/01/49 (Call 09/01/48)		778		939,558
4.38%, 09/10/38 (Call 03/10/38)		734		876,389
4.38%, 11/15/65 (Call 05/15/65)		981		1,172,183
4.50%, 09/10/48 (Call 03/10/48)		645		788,894
United Parcel Service Inc.
3.40%, 11/15/46 (Call 05/15/46)		180		186,793
3.40%, 09/01/49 (Call 03/01/49)		650		683,905
3.63%, 10/01/42		445		486,136
3.75%, 11/15/47 (Call 05/15/47)		605		673,250
4.25%, 03/15/49 (Call 09/15/48)		1,265		1,525,674
4.88%, 11/15/40 (Call 05/15/40)		430		549,476
6.20%, 01/15/38		1,085		1,592,855
United Parcel Service of America Inc., 8.38%, 04/01/30^(e)		30		44,104


				69,285,265

Trucking & Leasing — 0.0%
GATX Corp.
4.50%, 03/30/45 (Call 09/30/44)^(b)		150		169,600
5.20%, 03/15/44 (Call 09/15/43)		185		234,988


				404,588

Water — 0.2%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		1,005		1,144,597
4.00%, 12/01/46 (Call 06/01/46)		195		228,099


Security	Par/ Shares (000)		Value

Water (continued)
4.15%, 06/01/49 (Call 12/01/48)	$	265	$	320,652
4.20%, 09/01/48 (Call 03/01/48)^(b)		629		754,258
4.30%, 12/01/42 (Call 06/01/42)		146		179,064
4.30%, 09/01/45 (Call 03/01/45)		445		544,648
6.59%, 10/15/37		395		602,610
Essential Utilities Inc., 4.28%, 05/01/49 (Call 11/01/48)		310		375,647
Veolia Environnement SA, 6.75%, 06/01/38		118		176,951


				4,326,526


Total Corporate Bonds & Notes — 97.7% (Cost: $1,895,357,831)				2,072,645,845


Short-Term Investments

Money Market Funds — 8.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 1.74%^(g)(h)(i)		158,179		158,289,593
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.52%^(g)(h)		29,587		29,587,000


				187,876,593


Total Short-Term Investments — 8.8% (Cost: $187,818,153)				187,876,593


Total Investments in Securities — 106.5% (Cost: $2,083,175,984)				2,260,522,438

Other Assets, Less Liabilities — (6.5)%				(138,508,531	)


Net Assets — 100.0%			$	2,122,013,907

^(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)	Security is issued at a fixed coupon rate, which converts to a variable rate at a specified date.

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

^(e)	Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^(f)	Zero-coupon bond.

^(g)	Affiliate of the Fund.

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

⁽ⁱ⁾	All or a portion of this security was purchased with cash collateral received from loaned securities.

Investments in issuers considered to be affiliates of the Fund during the year ended February 29, 2020, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

The following significant accounting policies are consistently followed by the Fund in the preparation of its financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures 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. The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.

Recent Accounting Standards: The Fund has adopted Financial Accounting Standards Board Accounting Standards Update 2017-08 to amend the amortization period for certain purchased callable debt securities held at a premium. Under the new standard, the Fund has changed the amortization period for the premium on certain purchased callable debt securities with non-contingent call features to the earliest call date. In accordance with the transition provisions of the standard, the Fund applied the amendments on a modified retrospective basis beginning with the fiscal period ended February 29, 2020. The cost basis of securities at February 28, 2019 has been adjusted to $645,281,461.

This change in accounting policy has been made to comply with the newly issued accounting standard and had no impact on accumulated earnings (loss) or the net asset value of the Fund.

Investment Valuation Policies: The 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 should the reporting period end on a day that the Fund’s listing exchange is not open. 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. A fund determines the fair value of its financial instruments using various independent dealers or pricing services under policies approved by the Board of Trustees of the Trust (the “Board”). 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 the Fund’s assets and liabilities:

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 judgement 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. The fair value hierarchy for the Fund’s investments is included in its schedule of investments. 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.

As of February 29, 2020, any securities on loan were collateralized by cash and/or U.S. government obligations. Cash collateral received was invested in money market funds managed by BlackRock Fund Advisors (“BFA”), the Fund’s investment adviser, or its affiliates and 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 for the Fund, if any, are also disclosed in its schedule of investments. The market value of any securities on loan as of February 29, 2020 and the value of the related cash collateral are disclosed in the statement of assets and liabilities.

The following table is a summary of the securities lending agreements by counterparty which are subject to offset under an MSLA as of February 29, 2020:

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, the 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. The 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 the Fund.

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

Each reduced investment advisory fee level reflects a 5% reduction (rounded to the fourth decimal place) from the investment advisory fee at the prior aggregate average daily net asset level.

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 Fund, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending. The Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan in a money market fund 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 the Fund bears to an annual rate of 0.04% (the “collateral investment fees”). Securities lending income is equal to the total of income earned from the reinvestment of cash collateral (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities. The 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, the 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, the 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 the Fund is shown as securities lending income – affiliated – net in its statement of operations. For the year ended February 29, 2020, the Fund paid BTC $99,688 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.

For the year ended February 29, 2020, transactions executed by the Fund pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended February 29, 2020, purchases and sales of investments, excluding in-kind transactions and short-term investments, were as follows:

The Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is the policy of the Fund to qualify as a regulated investment company by complying with the provisions applicable to regulated investment companies, as defined under Subchapter M of the Internal Revenue Code of 1986, as amended, and to annually distribute substantially all of its ordinary income and any net capital gains (taking into account any capital loss carryforwards) sufficient to relieve it from all, or substantially all, federal income and excise taxes. Accordingly, no provision for federal income taxes is required.

Management has analyzed tax laws and regulations and their application to the Fund as of February 29, 2020, 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 Fund’s financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of February 29, 2020, the following permanent differences attributable to realized gains (losses) from in-kind redemptions, were reclassified to the following accounts:

As of February 29, 2020, the tax components of accumulated net earnings (losses) were as follows:

For the year ended February 29, 2020, the Fund utilized $6,644,117 of its capital loss carryforwards.

In the normal course of business, the 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. The 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 the 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.

Market Risk: Market risk arises mainly from uncertainty about future values of financial instruments influenced by price, currency and interest rate movements. It represents the potential loss a fund may suffer through holding market positions in the face of market movements. A fund is exposed to market risk by its investment in equity, fixed income and/or financial derivative instruments or by its investment in underlying funds. The fair value of securities held by a fund may decline due to general market conditions, economic trends or events that are not specifically related to the issuers of the securities including local, regional or global political, social or economic instability or to factors that affect a particular industry or group of industries. 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 Fund and its investments. The extent of a fund’s exposure to market risk is the market value of the investments held as shown in the fund’s schedule of investments.

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. The impact of the pandemic may be short term or may last for an extended period of time.

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 the Fund’s portfolio are disclosed in its schedule of investments.

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of iShares Long-Term Corporate Bond ETF (one of the funds constituting iShares Trust, referred to hereafter as the “Fund”) as of February 29, 2020, the related statement of operations for the year ended February 29, 2020, the statement of changes in net assets for each of the two years in the period ended February 29, 2020, including the related notes, and the financial highlights for each of the five years in the period ended February 29, 2020 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of February 29, 2020, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended February 29, 2020 and the financial highlights for each of the five years in the period ended February 29, 2020 in conformity with accounting principles generally accepted in the United States of America.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 29, 2020 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

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

This report is intended for the Fund’s 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 or ICE Data Indices, LLC, 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.

The Markets in Review

Dear Shareholder,

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of October 31, 2020



	6-Month			12-Month

U.S. large cap equities (S&P 500^® Index)		13.29	%		9.71	%

U.S. small cap equities (Russell 2000^® Index)		18.13			(0.14	)

International equities (MSCI Europe, Australasia, Far East Index)		8.57			(6.86	)

Emerging market equities (MSCI Emerging Markets Index)		20.96			8.25

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)		0.06			0.92

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)		(1.63	)		8.92

U.S. investment grade bonds (Bloomberg Barclays U.S. Aggregate Bond Index)		1.27			6.19

Tax-exempt municipal bonds (S&P Municipal Bond Index)		4.87			3.55

U.S. high yield bonds (Bloomberg Barclays U.S. Corporate High Yield 2% Issuer Capped Index)		10.73			3.42



Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

Global investment-grade bonds advanced for the 12 months ended October 31, 2020 (“reporting period”). The Bloomberg Barclays Global Aggregate Index, a broad measure of global bond market performance, returned 5.63% in U.S. dollar terms for the reporting period.

Market disruption due to the coronavirus pandemic drove sharp volatility in bond prices, followed by a steady recovery after governments worldwide intervened to support fixed-income markets and economic activity. As the extent of the outbreak became evident in late February and early March 2020, uncertainty led investors to move out of stocks and into bonds, and global bond yields (which are inversely related to prices) declined. But the continued spread of the virus and related restrictions on economic activity led to a significant increase in yields, as investors became concerned that the pandemic-related downturn would restrict liquidity and limit the ability of sovereign and corporate borrowers to issue new bonds. However, the swift action of central banks helped stabilize credit markets and improve liquidity, and a gradual, but significant, recovery in bond prices followed.

U.S. bond prices followed the global pattern: an advance in the immediate aftermath of the pandemic, followed by a sharp decline and subsequent recovery, leading to a positive performance for the reporting period overall. In response to the economic downturn, the U.S. Federal Reserve (“Fed”) enacted two emergency decreases to short-term interest rates in March 2020. It further stabilized bond markets by implementing bond buying programs for U.S. Treasuries, mortgage-backed securities, and corporate bonds. Bond prices rose thereafter, driving Treasury yields to historic lows despite record issuance to fund government fiscal stimulus programs. Fed action, along with signs that defaults would be lower than anticipated, drove corporate bond prices higher beginning in late March 2020. In August 2020, the Fed revised its long-standing inflation policy, allowing it to exceed its 2% target in order to stimulate the economy.

European bonds also advanced, benefiting from efforts by the European Central Bank (“ECB”) to stabilize and provide liquidity for markets. In March 2020, the ECB instituted a €750 billion bond purchasing program that authorized purchases of government and corporate bonds. The ECB augmented this program with an additional €600 billion in June 2020, further bolstering the European bond market. To finance its recovery efforts, in October 2020 the E.U. issued its own large-scale bonds for the first time (previously most European debt was issued only by individual member states). Demand for the issuance was high, indicating significant investor appetite for E.U.-backed bonds.

Bonds in the Asia/Pacific region posted a modest return after a sharp decline in bond prices in March 2020 was followed by a relatively modest rebound. Japanese bond prices in particular declined amid a significant increase in issuance of government bonds to finance stimulus efforts. To support this influx of bond supply and improve market liquidity, the Bank of Japan increased its bond-buying program for both government and corporate bonds. Bonds in other parts of the Asia/Pacific region posted gains, however, as foreign investors in search of yield buoyed bond prices in South Korea, Malaysia, and Thailand. Emerging market bonds also advanced amid a strong economic recovery in China, which helped reassure yield-hungry investors that economic conditions were improving in the latter part of the reporting period.

The iShares Interest Rate Hedged Emerging Markets Bond ETF (the “Fund”) seeks to mitigate the interest rate risk of a portfolio composed of U.S. dollar-denominated, emerging market bonds. The Fund is an actively managed exchange-traded fund that does not seek to replicate the performance of a specified index. The Fund currently seeks to achieve its investment objective by investing a substantial portion of its assets in one underlying fund, the iShares J.P. Morgan USD Emerging Markets Bond ETF. The Fund attempts to mitigate the interest rate risk of the underlying fund by holding short positions in U.S. Treasury futures or interest rate swaps.

The inception date of the Fund was 7/22/15. The first day of secondary market trading was 7/23/15.

The J.P. Morgan EMBI Global Core Swap Hedged Index is an unmanaged index that consists of the J.P. Morgan EMBI^® Global Core Index plus interest rate swaps that intend to hedge the interest rate exposure of the J.P. Morgan EMBI^® Global Core Index.

The Fund posted a decline for the reporting period due to the notable negative impact of the interest rate hedge, which offset gains in the underlying U.S. dollar-denominated emerging market bonds. Emerging market bonds benefited from investors seeking higher-yield investments as the Fed reduced its key lending rate to near 0%. Many emerging market countries with debt denominated in U.S. dollars benefited from U.S. dollar weakness, which reduced borrowing costs. Additionally, the global economic slowdown offered emerging market central banks the latitude to reduce interest rates.

On an unhedged basis, Middle Eastern bonds were the largest contributors to the Fund’s return. Despite a decline in oil prices that diminished the region’s economic outlook, Saudi Arabian government bonds advanced, largely on the strength of ample cash reserves and low debt levels. Government bonds from Qatar also gained as plans to repay $20 billion in debt in 2021 solidified the country’s financial prospects. These gains offset declines in Lebanon, where the government defaulted on bonds amid political upheaval.

European bonds also contributed to the Fund’s return, led by bonds from Russia. The Russian central bank reduced its key lending rate from 6.50% to 4.25% during the reporting period, boosting bond prices.

Declining interest rates during the reporting period led to negative performance from hedging activity, which was the largest detractor from the Fund’s return. Typically, increasing interest rates reduce the price of existing bonds, meaning a rise in interest rates detracts from bond fund performance. Conversely, decreasing interest rates usually serve to increase bond prices. An interest rate hedged fund attempts to avoid these fluctuations by offsetting interest rate risk, primarily using interest rate swaps and U.S. Treasury futures contracts.

The Fund’s interest rate hedge seeks near-zero interest rate sensitivity. Consequently, the Fund’s return was minimally affected by interest rate fluctuations during the reporting period. With interest rate sensitivity hedged, the Fund fluctuated based on direct exposure to the yield premium of emerging market bonds, independent of declining interest rates.

ALLOCATION BY CREDIT QUALITY (of the UNDERLYING FUND)


Credit Rating^(a)	Percent of Total Investment^(b)
Aa		6.2	%
A		16.8
Baa		31.8
Ba		17.3
B		17.6
Caa		4.3
Ca		1.6
Not Rated		4.4

^(a)

^(b)

Excludes money market funds.


Security	Shares		Value

Investment Companies

Exchange-Traded Funds — 94.3%
iShares J.P. Morgan USD Emerging Markets Bond ETF^(a)		48,263	$	5,309,895


Total Investment Companies — 94.3% (Cost: $5,320,940)				5,309,895


Short-Term Investments

Money Market Funds — 0.9%
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.04%^(a)(b)		50,000		50,000


Total Short-Term Investments — 0.9% (Cost: $50,000)				50,000


Total Investments in Securities — 95.2% (Cost: $5,370,940)				5,359,895

Other Assets, Less Liabilities — 4.8%				272,797


Net Assets — 100.0%			$	5,632,692