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 U.S. bond market advanced for the 12 months ended October 31, 2019 (“reporting period”). The Bloomberg Barclays U.S. Aggregate Bond Index, a broad measure of U.S. fixed-income performance, returned 11.51%.

U.S. economic growth declined to an annualized rate of approximately 1.9% in the third quarter of 2019. As measured by the consumer price index, the year-over-year U.S. inflation rate, which has remained subdued throughout the current economic expansion, decreased to 1.8% in October 2019.

The delayed impact of higher interest rates early in the reporting period and the trade dispute between the U.S. and China ultimately weighed on economic growth. Specifically, growth in the U.S. manufacturing and industrial sectors slowed to a standstill, while business spending contracted due to modest earnings growth and trade uncertainty. On the upside, consumer spending remained relatively resilient, which kept the U.S. economy afloat. The lowest unemployment rate in almost 50 years led to rising wages, while increased borrowing also supported consumer spending. Similarly, government spending increased, financed by a large increase in borrowing.

In response to deteriorating economic conditions, the U.S. Federal Reserve Bank (“Fed”) shifted to a more accommodative monetary policy starting in January 2019. After raising short-term interest rates in December 2018, the Fed reversed course and lowered them three times in 2019. The Fed also supported short-term lending markets to alleviate liquidity concerns.

Long-term bond yields declined more than short-term yields, reflecting lower inflation expectations and solid demand for the relative stability of U.S. Treasuries amid economic uncertainty. Consequently, the U.S. Treasury yield curve (a graphical representation of U.S. Treasury yields at different maturities) flattened before briefly inverting in August 2019, as 10-year Treasury yields dipped below one-year Treasury yields. An inverted yield curve has preceded each of the last seven economic recessions, so the yield curve inversion during the reporting period exacerbated investors’ concerns about the potential for an impending recession.

Lower interest rates drove gains in the value of U.S. Treasury securities, which are typically more sensitive to changes in interest rates than other types of bonds with similar maturities. U.S. Treasury securities with longer maturities posted significantly higher returns. Deficit spending led the U.S. government to maintain a high level of Treasury bond issuance, which increased supply, but demand from international investors seeking relatively higher U.S. yields helped support prices. Despite the decline in inflation, U.S. Treasury inflation-protected securities, which have even greater price sensitivity than nominal Treasuries at comparable maturities, also posted a solid return.

Corporate bonds benefited from more accommodative interest rate policies, generally posting strong returns. Declining yields meant that investors in search of income increasingly sought out corporate debt, which typically yields more than government debt. Demand for investment-grade corporate bonds was particularly high, as investors sought substitutes for low-yielding sovereign debt. Narrow spreads (which measure the difference between yields for corporate bonds and lower-risk Treasury bonds) indicated that investors were confident in the financial resilience of U.S. corporations despite a slowing economy. Corporate bond issuance declined sharply early in the reporting period as interest rates rose and investors became concerned about an economic slowdown. However, issuance increased later in the reporting period when interest rates declined and the economy stabilized.

Among securitized bonds, commercial mortgage backed securities (“CMBSs”) posted the strongest performance amid a decline in issuance of new CMBS debt. Bonds backed by individual home mortgages advanced, despite a rise in refinancing due to lower mortgage rates. Other asset-backed bonds, including those backed by auto loans and credit card debt, also gained despite an increase in default rates, as low unemployment supported consumer spending.

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 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 10 for more information.

Short-term investment-grade bonds posted a positive return for the reporting period. Amid declining interest rates, the U.S. Treasury yield curve (a graphical representation of U.S. Treasury rates at different maturities) flattened during the reporting period, which led investors to ultra-short and short-term bonds in search of comparable yields with less sensitivity to changes in interest rates.

In terms of relative performance, the Fund outperformed the broader market, as measured by the Bloomberg Barclays Short-Term Government/Corporate Index. The Fund’s relative performance benefited from overweight positions in corporate bonds and securitized bonds, including asset-backed securities (“ABSs”) and commercial mortgage-backed securities (“CMBSs”). The Fund maintained underweight positions to Treasuries and international government bonds in favor of higher yielding bonds, a decision that detracted marginally from relative performance as government bonds rallied.

From a total return perspective, investment-grade corporate bonds were the largest contributors to the Fund’s performance. Strong demand from investors seeking higher yields and lower volatility helped drive returns of investment-grade corporate bonds. In terms of credit quality, bonds rated Baa, Aaa, and A, which represented approximately 68% of the Fund on average, were the most significant contributors to the Fund’s return.

Bonds issued by banks were notable contributors, as strong balance sheets gave investors confidence that banks would be relatively resilient in the case of an economic downturn. Banks are typically among the largest issuers of corporate debt, in part due to capital requirement regulations. Bonds issued by consumer non-cyclical companies were another source of strength. Pharmaceuticals and healthcare company debt advanced amid rising merger and acquisition activity and efforts to innovate new products.

Among securitized bonds, ABSs contributed notably, as investors seeking yield drove demand amid continuing consumer strength. Collateralized loan obligations performed well, along with prime auto loans and bank credit cards. CMBSs also contributed to the Fund’s return, bolstered by lower supply.

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 positive return for the reporting period amid the Fed’s pivot to accommodative interest rate policy, strong demand, and low rates of issuance. Municipal bond yields declined as investors turned to the asset class, which is often exempt from taxes, to offset the impact of a 2017 law capping deductions for state and local income taxes. Issuance declined due in part to reduced opportunities after the end of tax-exemption status for advance refunding municipal bonds, which are typically issued by municipalities when prevailing interest rates are low in order to refinance existing bonds prior to maturity.

In terms of relative performance, the Fund underperformed the broader market, as measured by the Bloomberg Barclays Municipal Bond: 1 Year (1-2) Index. Overall, the Fund’s tactical positioning detracted from relative performance. The Fund’s shorter duration, a measure of the sensitivity of the price of a bond to changes in interest rates, weighed on relative return as the Fed shifted its interest rate policy from tightening to easing. Although the Fund increased its duration exposure later in the reporting period, this repositioning was not enough to offset the effects of the Fed’s interest rate policy change. The Fund’s overweight allocation to variable-rate demand notes — which periodically reset the interest rate paid to bondholders and were employed by the Fund as a hedge against the effect of interest rate increases — also detracted from relative performance as interest rates declined. In addition, elevated demand for these floating-rate notes (“floaters”), weighed on floater yields at times, which further detracted from the Fund’s relative performance.

In contrast, an overweight allocation to lower-rated bonds contributed to the Fund’s relative return, as did an overweight allocation to nonrated municipal bonds. Bonds with shorter maturity dates and tax-backed bonds from states and municipalities, school districts, and the health and corporate sectors also bolstered the Fund’s relative performance.

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 BofAML 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. Yield spreads tightened in the wake of the Fed’s shift to more accommodative monetary policy, and investors searching for comparable yields with less interest rate sensitivity drove strong inflows to short-dated bonds and money market instruments. The Fund is designed to exhibit little share price volatility in most interest rate environments, as demonstrated during the reporting period.

In terms of relative performance, the Fund outperformed the broader market, as measured by the ICE BofAML 6-Month U.S. Treasury Bill Index. Significant exposure to corporate bonds — aimed at locking in higher yields prior to the Fed’s monetary easing — drove relative performance, along with overweight positions in short-dated commercial paper (unsecured loans to banks and other large corporations) and repurchase agreements. Within commercial paper, the Fund benefited from an emphasis on Tier-2 securities, which at times carried more attractive yields than higher-rated peers.

From a total return perspective, corporate bonds were the primary drivers of the Fund’s performance as yields declined and their spreads narrowed. Bonds issued by banks were the most significant contributors, as strong balance sheets gave investors confidence that banks would be relatively resilient in the case of an economic downturn. Bonds issued by consumer cyclicals companies, particularly automakers, were also a source of strength, as consumer spending continued to grow despite slowing global vehicle sales and credit rating downgrades.

Floating-rate notes (“floaters”), which periodically reset their interest rate paid to investors, also contributed to the Fund’s return. In the latter part of the reporting period, the Fund increased its allocation to floaters to take advantage of attractive spreads, as the U.S. Treasury yield curve (a graphical representation of U.S. Treasury rates at different maturities) inverted.

From a credit quality perspective, all rating categories held by the Fund contributed to the Fund’s performance. Bonds rated Aa and A contributed the majority of the Fund’s return.

Past performance is no guarantee of future results. 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 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, 3.10%, 07/15/26 (Call 01/15/20),
(3 mo. LIBOR US + 1.100%)^(a)(b)	$	4,915	$	4,908,989
Ally Auto Receivables Trust
Series 2017-4, Class A3, 1.75%, 12/15/21 (Call 01/15/21)		5,137		5,131,842
Series 2018-3, Class A2, 2.72%, 05/17/21 (Call 09/15/21)		8,044		8,048,614
Series 2019-1, Class A2, 2.85%, 03/15/22 (Call 06/15/22)		25,850		25,940,232
ALM VII Ltd., Series 2012-7A, Class A1A2, 3.17%, 07/15/29 (Call 07/15/20),
(3 mo. LIBOR US + 1.170%)^(a)(b)		9,000		8,981,066
ALM XII Ltd., Class A1R, 2.89%, 04/16/27,
(3 mo. LIBOR US + 0.890%)^(a)(b)		3,090		3,086,064
ALM XVII Ltd., Series 2015-17A, Class A1AR, 2.93%, 01/15/28 (Call 01/15/20),
(3 mo. LIBOR US + 0.930%)^(a)(b)		22,500		22,428,436
American Express Credit Account Master Trust, 2.67%, 10/17/22		3,875		3,887,548
AmeriCredit Automobile Receivables Trust
Series 2017-1, Class A3, 1.87%, 08/18/21 (Call 06/18/21)		131		131,207
Series 2017-3, Class A3, 1.90%, 03/18/22 (Call 11/18/21)		11,877		11,864,501
Series 2018-1, Class A2A, 2.71%, 07/19/21 (Call 05/18/22)		1,503		1,504,228
Series 2018-3, Class A2A, 3.11%, 01/18/22 (Call 02/18/23)		22,953		23,027,402
Series 2019-1, Class A2A, 2.93%, 06/20/22 (Call 04/18/23)		26,330		26,434,686
Anchorage Capital CLO 4-R Ltd., Series 2014-4RA, Class A, 2.99%, 01/28/31 (Call 01/28/20),
(3 mo. LIBOR US + 1.050%)^(a)(b)		2,500		2,482,668
Anchorage Capital CLO 7 Ltd., Series 2015-7A, Class AR, 2.96%, 10/15/27 (Call 01/15/20),
(3 mo. LIBOR US + 0.960%)^(a)(b)		10,740		10,714,328
Anchorage Capital CLO 8 Ltd., Series 2016-8A, Class AR, 2.94%, 07/28/28 (Call 01/28/20),
(3 mo. LIBOR US + 1.000%)^(a)(b)		6,305		6,283,400
Arbor Realty Commercial Real Estate Notes Ltd., Series 2017-FL1, Class A, 3.21%, 04/15/27 (Call 11/15/19),
(1 mo. LIBOR US + 1.300%)^(a)(b)		12,170		12,216,605
Ares XXIX CLO Ltd., Series 2014-1A, Class A1R, 3.19%, 04/17/26 (Call 01/17/20),
(3 mo. LIBOR US + 1.190%)^(a)(b)		3,727		3,729,996
Atlas Senior Loan Fund III Ltd., Series 2013-1A, Class AR, 2.95%, 11/17/27 (Call 11/17/19),
(3 mo. LIBOR US + 0.830%)^(a)(b)		15,411		15,345,818
Avery Point IV CLO Ltd., Series 2014-1A, Class AR, 3.04%, 04/25/26 (Call 01/25/20),
(3 mo. LIBOR US + 1.100%)^(a)(b)		3,787		3,787,374
BA Credit Card Trust
Series 2017-A1, Class A1, 1.95%, 08/15/22		46,700		46,701,069
Series 2017-A2, Class A2, 1.84%, 01/17/23		10,000		9,999,039
Bain Capital Credit Clo Ltd., Series 2016-2A, Class AR, 3.14%, 01/15/29 (Call 01/15/20),
(3 mo. LIBOR US + 1.140%)^(a)(b)		7,620		7,600,978


Security	Par (000)		Value
BlueMountain CLO Ltd., Series 2012-2A, Class AR2, 3.19%, 11/20/28 (Call 11/20/19),
(3 mo. LIBOR US + 1.050%)^(a)(b)	$	11,310	$	11,301,093
BMW Floorplan Master Owner Trust, Series 2018-1, Class A2, 2.23%, 05/15/23,
(1 mo. LIBOR US + 0.320%)^(a)(b)		21,060		21,095,682
BMW Vehicle Owner Trust, Series 2016-A, Class A4, 1.37%, 12/27/22 (Call 05/25/20)		8,335		8,313,185
Capital One Multi-Asset Execution Trust Class A6, 1.82%, 09/15/22		10,107		10,105,807
Series 2017-A1, Class A1, 2.00%, 01/17/23		45,848		45,866,335
Series 2017-A4, Class A4, 1.99%, 07/17/23		30,195		30,231,364
Carlyle Global Market Strategies CLO Ltd., Series 2013-2A, Class AR, 2.89%, 01/18/29 (Call 01/18/20),
(3 mo. LIBOR US + 0.890%)^(a)(b)		6,210		6,208,888
CarMax Auto Owner Trust Class A2A, 3.02%, 07/15/22 (Call 10/15/22)		20,166		20,267,283
Series 2016-1, Class A4, 1.88%, 06/15/21 (Call 04/15/20)		13,559		13,551,021
Series 2016-2, Class A4, 1.68%, 09/15/21 (Call 06/15/20)		12,349		12,330,959
Series 2018-2, Class A2, 2.73%, 08/16/21 (Call 04/15/22)		3,649		3,655,538
Catamaran CLO Ltd., Series 2015-1A, Class AR, 2.85%, 04/22/27 (Call 01/22/20),
(3 mo. LIBOR US + 0.900%)^(a)(b)		3,575		3,560,419
Cedar Funding II CLO Ltd., Series 2013-1A, Class A1R, 3.33%, 06/09/30 (Call 12/09/19),
(3 mo. LIBOR US + 1.230%)^(a)(b)		8,000		7,985,546
Cedar Funding VI CLO Ltd., Series 2016-6A, Class AR, 3.06%, 10/20/28 (Call 01/20/20),
(3 mo. LIBOR US + 1.090%)^(a)(b)		20,500		20,422,487
CIFC Funding Ltd.
Class A, 3.21%, 04/20/30,
(3 mo. LIBOR US + 1.240%)^(a)(b)		6,375		6,362,452
Series 2014-4RA, Class A1A, 3.13%, 10/17/30 (Call 10/17/20), (3 mo. LIBOR US + 1.130%)^(a)(b)		15,175		15,116,461
Series 2015-2A, Class AR, 2.78%, 04/15/27 (Call 01/15/20), (3 mo. LIBOR US + 0.780%)^(a)(b)		14,884		14,857,885
Citibank Credit Card Issuance Trust, Series 2016-A1, Class A1, 1.75%, 11/19/21		23,370		23,365,952
CNH Equipment Trust
Class A2, 2.96%, 05/16/22 (Call 07/15/23)		9,419		9,464,502
Series 2017-B, Class A3, 1.86%, 09/15/22 (Call 10/15/21)		14,728		14,710,075
Discover Card Execution Note Trust, Class A, 2.19%, 12/15/23, (1 mo. LIBOR US + 0.270%)^(b)		20,000		20,009,694
Drive Auto Receivables Trust
Series 2019-1, Class A2A, 3.08%, 09/15/21 (Call 10/15/21)		5,304		5,307,137
Series 2019-2, Class A3, 3.04%, 03/15/23 (Call 06/15/22)		15,540		15,675,381
Series 2019-4, Class A3, 2.16%, 05/15/23 (Call 03/15/23)		8,200		8,202,393
Dryden 43 Senior Loan Fund, Series 2016-43A, Class AR, 3.11%, 07/20/29 (Call 07/20/20),
(3 mo. LIBOR US + 1.140%)^(a)(b)		20,000		19,957,242
Dryden XXVI Senior Loan Fund, Series 2013-26A, Class AR, 2.90%, 04/15/29 (Call 01/15/20),
(3 mo. LIBOR US + 0.900%)^(a)(b)		16,350		16,288,218


Security	Par (000)		Value
Eaton Vance CLO Ltd., Series 2013-1A, Class A1RR, 3.16%, 01/15/28 (Call 07/15/20),
(3 mo. LIBOR US + 1.160%)^(a)(b)	$	6,000	$	5,994,089
Enterprise Fleet Financing LLC
Series 2017-1, Class A2, 2.13%, 07/20/22 (Call 03/20/20)^(a)		495		495,321
Series 2017-2, Class A2, 1.97%, 01/20/23^(a)		5,057		5,053,853
Series 2017-3, Class A2, 2.13%, 05/22/23^(a)		3,387		3,388,300
Ford Credit Auto Owner Trust, Series 2016-C, Class A3, 1.22%, 03/15/21 (Call 08/15/20)		1,355		1,353,364
Ford Credit Floorplan Master Owner Trust, Series 2019-1, Class A, 2.84%, 03/15/24		26,550		27,017,530
Ford Credit Floorplan Master Owner Trust A
Series 2013-2, Class A, 2.09%, 03/15/22^(a)		2,560		2,559,643
Series 2019-3, Class A2, 2.51%, 09/15/24, (1 mo. LIBOR US + 0.600%)^(b)		39,300		39,398,643
Galaxy XXIII CLO Ltd., Series 2017-23, Class A, 3.22%, 04/24/29 (Call 01/24/20),
(3 mo. LIBOR US + 1.280%)^(a)(b)		14,580		14,540,144
GM Financial Consumer Automobile Receivables Trust,
Series 2018-4, Class A2, 2.93%, 11/16/21 (Call 09/16/22)		10,455		10,481,382
GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class AR2, 3.04%, 10/29/29 (Call 10/29/20),
(3 mo. LIBOR US + 1.110%)^(a)(b)		16,680		16,627,146
Halcyon Loan Advisors Funding Ltd., Series 2015-2A, Class AR, 3.02%, 07/25/27 (Call 01/25/20),
(3 mo. LIBOR US + 1.080%)^(a)(b)		14,137		14,125,194
Honda Auto Receivables Owner Trust 1.68%, 08/16/21		16,560		16,544,886
Series 2018-2, Class A4, 3.16%, 08/19/24 (Call 10/18/21)		4,870		4,990,090
Series 2018-4, Class A2, 2.98%, 05/17/21 (Call 04/15/22)		16,502		16,555,055
HPS Loan Management 10-2016 Ltd., Class A1R, 3.11%, 01/20/28 (Call 10/20/20),
(3 mo. LIBOR US + 1.140%)^(a)(b)		16,850		16,816,241
John Deere Owner Trust, Series 2017-B, Class A3, 1.82%, 10/15/21 (Call 01/15/21)		5,849		5,843,492
LCM XX LP, Series 20A, Class AR, 3.01%, 10/20/27 (Call 01/20/20), (3 mo. LIBOR US + 1.040%)^(a)(b)		13,750		13,737,807
LCM Xxiv Ltd., Series 24A, Class A, 3.28%, 03/20/30 (Call 01/20/20), (3 mo. LIBOR US + 1.310%)^(a)(b)		2,000		1,999,555
LoanCore Issuer Ltd., Series 2018-CRE1, Class A, 3.04%, 05/15/28 (Call 05/15/20),
(1 mo. LIBOR US + 1.130%)^(a)(b)		9,450		9,444,870
Madison Park Funding X Ltd., Series 2012-10A, Class AR2, 3.19%, 01/20/29 (Call 07/20/20),
(3 mo. LIBOR US + 1.220%)^(a)(b)		6,250		6,234,266
Madison Park Funding XIII Ltd., Series 2014-13A, Class AR2, 2.92%, 04/19/30 (Call 01/19/20),
(3 mo. LIBOR US + 0.950%)^(a)(b)		4,000		3,990,950
Marathon CRE Ltd., Series 2018-FL1, Class A, 3.06%, 06/15/28 (Call 06/15/20),
(1 mo. LIBOR US + 1.150%)^(a)(b)		20,640		20,648,093
Mercedes-Benz Auto Receivables Trust, Series 2016-1, Class A3, 1.26%, 02/16/21 (Call 07/15/20)		795		794,367


Security	Par (000)		Value
Mercedes-Benz Master Owner Trust
Series 2017-BA, Class A, 2.33%, 05/16/22, (1 mo. LIBOR US + 0.420%)^(a)(b)	$	14,540	$	14,553,782
Series 2018-BA, Class A, 2.25%, 05/15/23, (1 mo. LIBOR US + 0.340%)^(a)(b)		21,820		21,834,262
Navient Private Education Loan Trust
Series 2014-CT, Class A, 2.62%, 09/16/24 (Call 06/15/21), (1 mo. LIBOR US + 0.700%)^(a)(b)		352		351,805
Series 2017-A, Class A2B, 2.82%, 12/16/58 (Call 02/15/28), (1 mo. LIBOR US + 0.900%)^(a)(b)		1,770		1,773,818
Series 2018-BA, Class A1, 2.27%, 12/15/59 (Call 01/15/28), (1 mo. LIBOR US + 0.350%)^(a)(b)		5,918		5,918,364
Navient Private Education Refi Loan Trust
Series 2018-CA, Class A1, 3.01%, 06/16/42 (Call 06/15/26)^(a)		11,899		11,977,927
Series 2018-DA, Class A1, 2.22%, 12/15/59 (Call 02/15/29), (1 mo. LIBOR US + 0.300%)^(a)(b)		6,119		6,105,630
Series 2019-A, Class A1, 3.03%, 01/15/43 (Call 09/15/27)^(a)		4,455		4,490,810
Series 2019-FA, Class A1, 2.18%, 08/15/68^(a)		42,175		42,198,955
Navient Student Loan Trust, Series 2015-2, Class A2, 2.24%, 08/27/29 (Call 02/25/28),
(1 mo. LIBOR US + 0.420%)^(b)		56		55,844
Nissan Auto Receivables Owner Trust 1.18%, 01/15/21 (Call 09/15/20)		865		863,815
1.75%, 10/15/21 (Call 07/15/21)		8,341		8,332,018
2.82%, 01/18/22 (Call 03/15/23)		27,781		27,903,400
Series 2016-B, Class A3, 1.32%, 01/15/21 (Call 09/15/20)		2,118		2,116,774
Nissan Master Owner Trust Receivables
Series 2017-B, Class A, 2.34%, 04/18/22, (1 mo. LIBOR US + 0.430%)^(b)		22,513		22,530,905
Series 2017-C, Class A, 2.23%, 10/17/22, (1 mo. LIBOR US + 0.320%)^(b)		13,535		13,540,415
Series 2019-A, Class A, 2.47%, 02/15/24, (1 mo. LIBOR US + 0.560%)^(b)		23,950		24,038,876
NLY Commercial Mortgage Trust, 3.21%, 02/15/36 (Call 03/15/21), (1 mo. LIBOR US + 1.300%)^(a)(b)		5,291		5,299,371
OCP CLO Ltd., Series 2016-12A, Class A1R, 3.12%, 10/18/28 (Call 01/18/20),
(3 mo. LIBOR US + 1.120%)^(a)(b)		21,095		21,045,927
OHA Credit Partners IX Ltd., Series 2013-9A, Class A1R, 2.98%, 10/20/25, (3 mo. LIBOR US + 1.010%)^(a)(b)		200		200,117
OneMain Direct Auto Receivables Trust, Series 2017-2A, Class A, 2.31%, 12/14/21 (Call 08/14/20)^(a)		6,348		6,345,603
OneMain Financial Issuance Trust, Series 2016-3A, Class A, 3.83%, 06/18/31 (Call 05/18/21)^(a)		1,700		1,750,535
OZLM Funding Ltd., Series 2012-1A, Class A1R2, 3.18%, 07/22/29 (Call 01/22/20),
(3 mo. LIBOR US + 1.230%)^(a)(b)		1,000		996,862
OZLM VIII Ltd., Series 2014-8A, Class A1RR, 3.17%, 10/17/29 (Call 10/17/20),
(3 mo. LIBOR US + 1.170%)^(a)(b)		2,500		2,487,853
OZLM XIV Ltd., Series 2015-14A, Class A1AR, 3.46%, 01/15/29 (Call 01/15/20),
(3 mo. LIBOR US + 1.160%)^(a)(b)		10,035		10,027,213
Palmer Square Loan Funding Ltd.
Series 2018-4A, Class A1, 3.06%, 11/15/26 (Call 11/15/19), (3 mo. LIBOR US + 0.900%)^(a)(b)		10,762		10,740,386
Series 2018-5A, Class A1, 2.82%, 01/20/27 (Call 01/20/20), (3 mo. LIBOR US + 0.850%)^(a)(b)		28,899		28,760,950


Security	Par (000)		Value
PFS Financing Corp.
Series 2019-A, Class A1, 2.46%, 04/15/24, (1 mo. LIBOR US + 0.550%)^(a)(b)	$	40,000	$	40,044,544
Series 2019-B, Class A, 2.47%, 09/15/23, (1 mo. LIBOR US + 0.550%)^(a)(b)		14,650		14,650,000
Regatta VI Funding Ltd., Series 2016-1A, Class AR, 3.05%, 07/20/28 (Call 01/20/20),
(3 mo. LIBOR US + 1.080%)^(a)(b)		15,130		15,084,360
Santander Retail Auto Lease Trust, Series 2019-B, Class A2B, 2.21%, 04/20/22 (Call 10/20/22),
(1 mo. LIBOR US + 0.360%)^(a)(b)		14,350		14,341,699
SLM Private Credit Student Loan Trust
Series 2005-A, Class A3, 2.32%, 06/15/23 (Call 03/15/28), (3 mo. LIBOR US + 0.200%)^(b)		2,991		2,986,043
Series 2005-B, Class A4, 2.45%, 06/15/39 (Call 06/15/27), (3 mo. LIBOR US + 0.330%)^(b)		8,727		8,561,127
Series 2006-A, Class A5, 2.41%, 06/15/39 (Call 09/15/28), (3 mo. LIBOR US + 0.290%)^(b)		13,947		13,631,909
Series 2006-B, Class A5, 2.39%, 12/15/39 (Call 12/15/27), (3 mo. LIBOR US + 0.270%)^(b)		13,238		12,968,990
SLM Private Education Loan Trust, Series 2011-C, Class A2A, 5.17%, 10/17/44 (Call 06/15/20),
(1 mo. LIBOR US + 3.250%)^(a)(b)		155		155,340
SLM Student Loan Trust, Series 2011-2, Class A1, 2.42%, 11/25/27 (Call 10/25/31),
(1 mo. LIBOR US + 0.600%)^(b)		271		271,673
SMB Private Education Loan Trust
Series 2015-A, Class A2A, 2.49%, 06/15/27 (Call 06/15/27)^(a)		6,882		6,904,901
Series 2017-A, Class A2B, 2.82%, 09/15/34, (1 mo. LIBOR US + 0.900%)^(a)(b)		24,389		24,447,192
Series 2018-A, Class A1, 2.27%, 03/16/26, (1 mo. LIBOR US + 0.350%)^(a)(b)		2,271		2,270,527
Series 2018-B, Class A1, 2.24%, 12/16/24, (1 mo. LIBOR US + 0.320%)^(a)(b)		1,596		1,595,349
Series 2018-C, Class A1, 2.22%, 09/15/25, (1 mo. LIBOR US + 0.300%)^(a)(b)		7,723		7,722,456
Series 2019-A, Class A1, 2.26%, 02/16/26, (1 mo. LIBOR US + 0.350%)^(a)(b)		11,919		11,917,796
SoFi Professional Loan Program LLC
Series 16-C, Class A1, 2.92%, 10/27/36 (Call 08/25/24), (1 mo. LIBOR US + 1.100%)^(a)(b)		1,832		1,841,915
Series 2014-B, Class A1, 3.07%, 08/25/32 (Call 12/25/19), (1 mo. LIBOR US + 1.250%)^(a)(b)		118		118,574
Series 2014-B, Class A2, 2.55%, 08/27/29 (Call 12/25/19)^(a)		588		587,759
Series 2015-A, Class A1, 3.02%, 03/25/33 (Call 05/25/20), (1 mo. LIBOR US + 1.200%)^(a)(b)		300		300,887
Series 2015-B, Class A1, 2.87%, 04/25/35 (Call 12/25/21), (1 mo. LIBOR US + 1.050%)^(a)(b)		1,621		1,632,006
Sound Point Clo XIV Ltd., Series 2016-3A, Class AR, 3.08%, 01/23/29 (Call 04/23/20),
(3 mo. LIBOR US + 1.150%)^(a)(b)		7,255		7,228,104
Sound Point Clo XV Ltd., Series 2017-1A, Class AR, 3.08%, 01/23/29 (Call 01/23/20),
(3 mo. LIBOR US + 1.150%)^(a)(b)		1,100		1,098,031
Symphony CLO XVIII Ltd., Series 2016-18A, Class AR, 3.08%, 01/23/28, (3 mo. LIBOR US + 1.150%)^(a)(b)		2,400		2,394,712
TCI-Symphony CLO Ltd., Series 2016-1A, Class AR, 3.16%, 10/13/29, (3 mo. LIBOR US + 1.160%)^(a)(b)(c)		5,235		5,235,000


Security	Par (000)		Value
TICP CLO I Ltd., Series 2015-1A, Class AR, 2.77%, 07/20/27 (Call 01/20/20),
(3 mo. LIBOR US + 0.800%)^(a)(b)	$	3,995	$	3,974,433
TICP CLO VI Ltd., Series 2016-6A, Class AR, 3.20%, 01/15/29 (Call 04/15/20),
(3 mo. LIBOR US + 1.200%)^(a)(b)		6,380		6,375,923
Toyota Auto Receivables, Series 2016-C, Class A4, 1.32%, 11/15/21 (Call 05/15/20)		8,347		8,330,341
Toyota Auto Receivables Owner Trust
Series 2017-B, Class A3, 1.76%, 07/15/21 (Call 03/15/21)		3,766		3,763,722
Series 2019-A, Class A2A, 2.83%, 10/15/21 (Call 10/15/22)		23,304		23,394,576
Treman Park CLO Ltd., Series 2015-1A, Class ARR, 3.04%, 10/20/28 (Call 01/20/20),
(3 mo. LIBOR US + 1.070%)^(a)(b)		21,750		21,665,316
Venture XXIV CLO Ltd., Series 2016-24A, Class AR, 3.15%, 10/20/28 (Call 04/20/20),
(3 mo. LIBOR US + 1.180%)^(a)(b)		2,065		2,063,561
Volvo Financial Equipment LLC, Series 2019-1A, Class A2, 2.90%, 11/15/21 (Call 01/15/23)^(a)		15,000		15,073,481
VOYA CLO, Series 2017-2A, Class A1, 3.21%, 06/07/30 (Call 01/15/20), (3 mo. LIBOR US + 1.210%)^(a)(b)		5,330		5,314,482
Westlake Automobile Receivables Trust, Series 2019-3A, Class A2, 2.15%, 02/15/23 (Call 11/15/22)^(a)		15,040		15,047,532
Wheels SPV 2 LLC, Series 2015-1A, Class A2, 1.88%, 04/20/26 (Call 10/20/20)^(a)		347		346,433


Total Asset-Backed Securities — 24.0% (Cost: $1,504,164,644)				1,506,666,281


Certificates of Deposit
Barclays Bank PLC 3.01%, 12/23/19		30,000		30,045,980
3.20%, 01/31/20		10,000		10,028,071
MUFG Bank Ltd., 2.44%, 01/25/21,
(3 mo. LIBOR US + 0.500%)^(b)		15,000		15,032,722


Total Certificates of Deposit — 0.9% (Cost: $54,990,931)				55,106,773


Collaterized Mortgage Obligations

Mortgage-Backed Securities — 8.6%
280 Park Avenue Mortgage Trust, Series 2017-280P, Class A, 2.92%, 09/15/34,
(1 mo. LIBOR US + 0.880%)^(a)(b)		33,000		32,999,762
Americold LLC, Series 2010-ARTA, Class A1, 3.85%, 01/14/29^(a)		1,893		1,911,448
AOA Mortgage Trust, Series 2015-1177, Class A, 2.96%, 12/13/29^(a)		11,835		11,939,967
AREIT Trust, Series 2019-CRE3, Class A, 2.91%, 09/14/36, (1 mo. LIBOR US + 1.020%)^(a)(b)		30,000		30,015,000
Aventura Mall Trust, Series 2013-AVM, Class A, 3.74%, 12/05/32^(a)(b)		4,650		4,699,776
BAMLL Commercial Mortgage Securities Trust, Series 2018-DSNY, Class A, 2.77%, 09/15/34,
(1 mo. LIBOR US + 0.850%)^(a)(b)		24,720		24,712,416
Bancorp Commercial Mortgage Trust
Series 2018-CRE4, Class A, 2.82%, 09/15/35, (1 mo. LIBOR US + 0.900%)^(a)(b)		6,353		6,351,030


Security	Par (000)		Value

Mortgage-Backed Securities (continued)
Series 2019-CRE5, Class A, 2.91%, 03/15/36, (1 mo. LIBOR US + 1.000%)^(a)(b)	$	11,088	$	11,087,744
BBCMS Trust, Series 2019-CLP, Class A, 2.61%, 12/15/31, (1 mo. LIBOR US + 0.685%)^(a)(b)		10,012		9,950,636
Bear Stearns Commercial Mortgage Securities Trust,
Series 2005-PW10, Class AJ, 5.59%, 12/11/40^(b)		5,185		5,286,790
BX Commercial Mortgage Trust
Class A, 2.58%, 03/15/37, (1 mo. LIBOR US + 0.671%)^(a)(b)		23,190		23,132,085
Class A, 2.66%, 11/15/35, (1 mo. LIBOR US + 0.750%)^(a)(b)		39,264		39,227,120
Series 2019-XL, Class A, 2.92%, 10/15/36, (1 mo. LIBOR US + 0.920%)^(a)(b)		20,979		21,005,327
CGDBB Commercial Mortgage Trust, Series 2017-BIOC, Class A, 2.70%, 07/15/32,
(1 mo. LIBOR US + 0.790%)^(a)(b)		13,300		13,295,832
Chase Home Lending Mortgage Trust, Series 2019-ATR2, Class A11, 2.72%, 07/25/49,
(1 mo. LIBOR US + 0.900%)^(a)(b)		7,191		7,159,207
COMM Mortgage Trust, Series 2014-CR15, Class A2, 2.93%, 02/10/47		3,772		3,772,148
Commission Mortgage Trust, Series 2013-CR6, Class A3FL, 2.56%, 03/10/46,
(1 mo. LIBOR US + 0.630%)^(a)(b)		8,857		8,835,344
Credit Suisse Mortgage Capital Certificates, Series 2019-ICE4, Class A, 2.89%, 05/15/36,
(1 mo. LIBOR US + 0.980%)^(a)(b)		20,920		20,965,363
Four Times Square Trust Commercial Mortgage Pass-Through Certificates, Series 2006-4TS, Class A, 5.40%, 12/13/28^(a)		10,830		11,148,690
Gosforth Funding PLC, Series 2018-1A, Class A1, 2.58%, 08/25/60 (Call 08/25/23),
(3 mo. LIBOR US + 0.450%)^(a)(b)		8,230		8,216,093
GPMT Ltd., Series 2018-FL1, Class A, 2.75%, 11/21/35,
(1 mo. LIBOR US + 0.900%)^(a)(b)		6,132		6,121,836
GS Mortgage Securities Corp. II, Series 2013-KING, Class A, 2.71%, 12/10/27^(a)		1,716		1,715,588
GS Mortgage Securities Corp. Trust
Series 2018-FBLU, Class A, 2.87%, 11/15/35, (1 mo. LIBOR US + 0.950%)^(a)(b)		26,015		26,022,768
Series 2018-LUAU, Class A, 2.91%, 11/15/32, (1 mo. LIBOR US + 1.000%)^(a)(b)		7,600		7,599,941
Series 2019-SOHO, Class A, 2.81%, 06/15/36, (1 mo. LIBOR US + 0.900%)^(a)(b)		19,046		19,063,753
JP Morgan Chase Commercial Mortgage Securities Corp.,
Series 2019-BKWD, Class A, 2.89%, 09/15/29, (1 mo. LIBOR US + 1.000%)^(a)(b)		1,911		1,915,111
KNDL Mortgage Trust, 2.72%, 05/15/36,
(1 mo. LIBOR US + 0.800%)^(a)(b)		8,533		8,533,066
Lanark Master Issuer PLC, 2.90%, 12/22/69,
(3 mo. LIBOR US + 0.770%)^(a)(b)		8,059		8,072,228
LMREC Inc., Series 2016-CRE2, Class A, 3.74%, 11/24/31, (1 mo. LIBOR US + 1.700%)^(a)(b)		991		995,407
Madison Avenue Trust, Series 2013-650M, Class A, 3.84%, 10/12/32^(a)		7,500		7,575,053
Morgan Stanley Capital I Trust 2.87%, 03/15/34, (1 mo. LIBOR US + 0.950%)^(a)(b)		8,247		8,246,986
Series 2014-CPT, Class A, 3.35%, 07/13/29^(a)		14,480		14,753,730
Series 2017-CLS, Class A, 2.61%, 11/15/34, (1 mo. LIBOR US + 0.700%)^(a)(b)		34,512		34,490,309


Security	Par (000)		Value

Mortgage-Backed Securities (continued)
Series 2018-BOP, Class A, 2.76%, 08/15/33, (1 mo. LIBOR US + 0.850%)^(a)(b)	$	6,860	$	6,842,779
Series 2018-SUN, Class A, 2.81%, 07/15/35, (1 mo. LIBOR US + 0.900%)^(a)(b)		19,045		19,009,214
Natixis Commercial Mortgage Securities Trust, Series 2018-RIVA, Class A, 2.66%, 02/15/33,
(1 mo. LIBOR US + 0.750%)^(a)(b)		7,650		7,616,498
Rosslyn Portfolio Trust, Series 2017-ROSS, Class A, 2.86%, 06/15/33, (1 mo. LIBOR US + 0.950%)^(a)(b)		3,390		3,389,995
VNDO Mortgage Trust, Series 2013-PENN, Class A, 3.81%, 12/13/29^(a)		10,200		10,333,193
Wells Fargo Commercial Mortgage Trust, Series 2017-SMP, Class A, 2.67%, 12/15/34,
(1 mo. LIBOR US + 0.750%)^(a)(b)		17,280		17,239,554
WFRBS Commercial Mortgage Trust
Series 2012-C6, Class AS, 3.84%, 04/15/45		12,986		13,413,965
Series 2012-C8, Class AFL, 2.88%, 08/15/45, (1 mo. LIBOR US + 1.000%)^(a)(b)		19,450		19,521,036


Total Collaterized Mortgage Obligations — 8.6% (Cost: $538,171,479)				538,183,788


Commercial Paper
Ford Motor Credit Co. LLC 2.72%, 03/24/20^(d)		23,130		22,879,765
3.15%, 09/25/20^(d)		20,000		19,438,817
VW Credit Inc. 2.03%, 12/04/19^(d)		18,500		18,464,531
2.05%, 11/06/19^(d)		20,500		20,493,003
Walgreens Boots Alliance Inc., 2.04%, 11/04/19^(d)		20,900		20,895,256


Total Commercial Paper — 1.6% (Cost: $102,085,617)				102,171,372


Corporate Bonds & Notes

Advertising — 0.1%
Interpublic Group of Companies Inc. (The), 3.50%, 10/01/20		4,465		4,523,077


Aerospace & Defense — 1.7%
Lockheed Martin Corp., 4.25%, 11/15/19		16,004		16,015,050
Northrop Grumman Corp., 2.08%, 10/15/20		15,000		15,020,045
Rolls-Royce PLC, 2.38%, 10/14/20 (Call 09/14/20)^(a)		30,000		30,105,342
United Technologies Corp. 1.90%, 05/04/20		15,000		15,005,374
2.82%, 08/16/21 (Call 11/18/19), (3 mo. LIBOR US + 0.650%)^(b)		21,865		21,869,220
4.50%, 04/15/20		10,000		10,119,323

				108,134,354
Agriculture — 1.3%
BAT Capital Corp. 2.76%, 08/15/22 (Call 07/15/22)		15,000		15,143,526
2.77%, 08/14/20, (3 mo. LIBOR US + 0.590%)^(b)		24,000		24,048,000
3.04%, 08/15/22 (Call 07/15/22), (3 mo. LIBOR US + 0.880%)^(b)		10,000		10,049,647
BAT International Finance PLC, 2.75%, 06/15/20^(a)(e)		9,625		9,668,777
Imperial Brands Finance PLC, 2.95%, 07/21/20^(a)		15,000		15,068,276
Reynolds American Inc., 6.88%, 05/01/20		10,000		10,226,265

				84,204,491


Security	Par (000)		Value

Auto Manufacturers — 5.0%
American Honda Finance Corp., 2.38%, 06/16/20,
(3 mo. LIBOR US + 0.260%)^(b)	$	10,000	$	10,013,716
BMW U.S. Capital LLC 2.42%, 04/06/20, (3 mo. LIBOR US + 0.380%)^(a)(b)		4,415		4,420,317
3.25%, 08/14/20^(a)		13,665		13,821,473
Daimler Finance North America LLC 2.61%, 02/12/21, (3 mo. LIBOR US + 0.430%)^(a)(b)		5,000		4,999,155
2.82%, 05/05/20, (3 mo. LIBOR US + 0.530%)^(a)(b)(e)		15,500		15,516,104
3.10%, 05/04/20^(a)		20,848		20,957,140
Ford Motor Credit Co. LLC 2.60%, 11/04/19		15,000		15,000,000
2.68%, 01/09/20		10,000		10,003,767
3.06%, 09/24/20, (3 mo. LIBOR US + 0.930%)^(b)(e)		15,000		14,990,719
3.16%, 08/04/20		58,995		59,274,400
8.13%, 01/15/20		10,000		10,107,092
General Motors Financial Co. Inc., 3.20%, 07/13/20 (Call 06/13/20)		50,000		50,312,569
Hyundai Capital America 2.55%, 04/03/20^(a)		12,134		12,153,825
2.89%, 04/03/20, (3 mo. LIBOR US + 0.800%)^(a)(b)		6,890		6,904,469
3.15%, 09/18/20, (3 mo. LIBOR US + 1.000%)^(a)(b)		3,000		3,011,734
Nissan Motor Acceptance Corp. 2.49%, 09/28/20, (3 mo. LIBOR US + 0.390%)^(a)(b)		18,968		18,975,430
2.58%, 01/13/20, (3 mo. LIBOR US + 0.580%)^(a)(b)		15,000		15,011,700
Volkswagen Group of America Finance LLC 2.40%, 05/22/20^(a)		22,090		22,125,964
2.70%, 09/26/22^(a)		2,145		2,164,897

				309,764,471

Banks — 22.4%
Australia & New Zealand Banking Group Ltd. 2.62%, 08/19/20, (3 mo. LIBOR US + 0.500%)^(a)(b)(e)		19,745		19,804,664
2.76%, 11/09/22, (3 mo. LIBOR US + 0.580%)^(a)(b)		2,000		2,006,113
Australia & New Zealand Banking Group Ltd./New York NY, 2.70%, 11/16/20		15,000		15,124,136
Banco Santander SA, 3.12%, 04/12/23,
(3 mo. LIBOR US + 1.120%)^(b)(e)		10,000		10,028,777
Bank of America Corp. 2.33%, 10/01/21 (Call 10/01/20)^(f)		20,000		20,047,105
2.37%, 07/21/21 (Call 07/21/20)^(e)(f)		1,600		1,603,775
2.63%, 07/21/21 (Call 07/21/20), (3 mo. LIBOR US + 0.660%)^(b)		25,500		25,576,908
2.75%, 10/01/21 (Call 10/01/20),
(3 mo. LIBOR US + 0.650%)^(b)		7,500		7,526,390
2.76%, 06/25/22 (Call 06/25/21),
(3 mo. LIBOR US + 0.650%)^(b)		10,000		10,048,632
2.94%, 04/24/23 (Call 04/24/22),
(3 mo. LIBOR US + 1.000%)^(b)		27,500		27,782,975
3.13%, 01/20/23 (Call 01/20/22),
(3 mo. LIBOR US + 1.160%)^(b)		25,000		25,346,997
Bank of Montreal, 2.92%, 08/27/21,
(3 mo. LIBOR US + 0.790%)^(b)(e)		7,000		7,076,300
Bank of Nova Scotia (The), 2.78%, 09/19/22,
(3 mo. LIBOR US + 0.620%)^(b)(e)		10,000		10,054,353
Banque Federative du Credit Mutuel SA 2.20%, 07/20/20^(a)		10,000		10,016,949
2.46%, 07/20/20, (3 mo. LIBOR US + 0.490%)^(a)(b)(e)		3,215		3,223,423
Barclays PLC 2.75%, 11/08/19		35,085		35,086,990
2.88%, 06/08/20		22,000		22,062,920


Security	Par (000)		Value

Banks (continued)
BB&T Corp., 2.69%, 06/15/20,
(3 mo. LIBOR US + 0.570%)^(b)(e)	$	9,403	$	9,432,243
BNP Paribas SA, 2.38%, 05/21/20		15,000		15,039,596
Capital One N.A., 3.09%, 01/30/23 (Call 01/30/22),
(3 mo. LIBOR US + 1.150%)^(b)(e)		8,000		8,068,070
Citibank N.A., 2.63%, 06/12/20,
(3 mo. LIBOR US + 0.500%)^(b)		7,060		7,080,297
Citigroup Inc. 2.45%, 01/10/20 (Call 12/10/19)		10,000		10,005,100
2.63%, 10/27/22 (Call 09/27/22),
(3 mo. LIBOR US + 0.690%)^(b)(e)		10,000		10,038,649
2.65%, 10/26/20		25,000		25,174,123
2.80%, 01/10/20 (Call 12/10/19),
(3 mo. LIBOR US + 0.790%)^(b)		8,286		8,293,002
Citizens Bank N.A./Providence RI 2.70%, 05/26/20, (3 mo. LIBOR US + 0.570%)^(b)		8,710		8,731,077
2.90%, 02/14/22 (Call 11/14/21),
(3 mo. LIBOR US + 0.720%)^(b)(e)		30,000		30,102,421
Commonwealth Bank of Australia/New York NY 2.30%, 03/12/20		15,000		15,020,163
2.40%, 11/02/20		20,000		20,106,109
Cooperatieve Rabobank UA, 2.97%, 09/26/23,
(3 mo. LIBOR US + 0.860%)^(a)(b)		10,000		10,037,033
Credit Suisse AG/New York NY, 4.38%, 08/05/20		16,932		17,252,662
Credit Suisse Group Funding Guernsey Ltd., 2.75%, 03/26/20		25,410		25,490,150
Danske Bank A/S 2.65%, 03/02/20, (3 mo. LIBOR US + 0.510%)^(a)(b)		2,500		2,500,393
2.75%, 09/17/20^(a)(e)		20,000		20,120,850
Deutsche Bank AG/New York NY 2.77%, 01/22/21, (3 mo. LIBOR US + 0.815%)^(b)(e)		5,000		4,974,500
4.25%, 02/04/21		9,905		10,099,589
Discover Bank, 3.10%, 06/04/20 (Call 05/04/20)		20,000		20,112,791
Federation des Caisses Desjardins du Quebec, 2.25%, 10/30/20^(a)(e)		15,000		15,065,464
Fifth Third Bancorp., 2.88%, 07/27/20 (Call 06/27/20)		10,000		10,060,794
Fifth Third Bank/Cincinnati OH, 2.19%, 10/30/20 (Call 09/30/20), (3 mo. LIBOR US + 0.250%)^(b)(e)		10,000		10,008,900
Goldman Sachs Group Inc. (The) 2.71%, 10/31/22 (Call 10/31/21),
(3 mo. LIBOR US + 0.780%)^(b)(e)		4,000		4,019,280
2.94%, 07/24/23 (Call 07/24/22),
(3 mo. LIBOR US + 1.000%)^(b)(e)		5,000		5,033,705
3.05%, 04/26/22 (Call 04/26/21),
(3 mo. LIBOR US + 1.110%)^(b)		25,000		25,257,900
3.18%, 06/05/23 (Call 06/05/22),
(3 mo. LIBOR US + 1.050%)^(b)		15,000		15,132,755
3.30%, 04/23/21 (Call 03/23/21),
(3 mo. LIBOR US + 1.360%)^(b)		7,000		7,094,995
3.32%, 09/15/20 (Call 08/15/20),
(3 mo. LIBOR US + 1.200%)^(b)(e)		1,750		1,763,567
3.72%, 11/29/23, (3 mo. LIBOR US + 1.600%)^(b)		15,000		15,490,564
3.90%, 02/25/21, (3 mo. LIBOR US + 1.770%)^(b)(e)		10,000		10,189,666
HSBC Bank PLC, 4.13%, 08/12/20^(a)		10,000		10,174,547
HSBC Holdings PLC 2.72%, 05/18/21 (Call 05/18/20),
(3 mo. LIBOR US + 0.600%)^(b)		24,695		24,724,140
3.79%, 05/25/21, (3 mo. LIBOR US + 1.660%)^(b)(e)		10,000		10,184,190
4.34%, 03/08/21, (3 mo. LIBOR US + 2.240%)^(b)		6,815		6,976,838
HSBC USA Inc., 2.35%, 03/05/20		15,000		15,015,667


Security	Par (000)		Value

Banks (continued)
Huntington National Bank (The), 2.64%, 03/10/20,
(3 mo. LIBOR US + 0.510%)^(b)(e)	$	10,000	$	10,018,710
JPMorgan Chase & Co. 2.76%, 06/18/22 (Call 06/18/21),
(3 mo. LIBOR US + 0.610%)^(b)		12,500		12,541,375
2.82%, 06/01/21 (Call 06/01/20),
(3 mo. LIBOR US + 0.680%)^(b)		19,985		20,038,480
2.84%, 04/25/23 (Call 04/25/22),
(3 mo. LIBOR US + 0.900%)^(b)(e)		10,000		10,066,742
3.00%, 01/15/23 (Call 01/15/22),
(3 mo. LIBOR US + 1.000%)^(b)(e)		15,000		15,165,687
3.17%, 10/24/23 (Call 10/24/22),
(3 mo. LIBOR US + 1.230%)^(b)		15,000		15,261,981
4.25%, 10/15/20		10,000		10,217,300
JPMorgan Chase Bank N.A. 2.49%, 02/19/21 (Call 02/19/20),
(3 mo. LIBOR US + 0.370%)^(b)(e)		10,000		10,006,157
2.60%, 02/01/21 (Call 02/01/20)^(f)		15,000		15,020,158
3.09%, 04/26/21 (Call 04/26/20)^(f)		32,400		32,561,490
Lloyds Bank PLC 2.70%, 08/17/20		20,000		20,120,460
6.38%, 01/21/21		9,000		9,472,398
Mitsubishi UFJ Financial Group Inc., 2.59%, 07/26/21,
(3 mo. LIBOR US + 0.650%)^(b)(e)		10,000		10,035,607
Mizuho Financial Group Inc. 2.92%, 03/05/23, (3 mo. LIBOR US + 0.790%)^(b)(e)		3,000		3,003,808
2.98%, 09/13/23 (Call 09/13/22),
(3 mo. LIBOR US + 0.850%)^(b)(e)		25,000		25,091,951
3.27%, 09/13/21, (3 mo. LIBOR US + 1.140%)^(b)(e)		20,000		20,234,458
Morgan Stanley 2.63%, 11/17/21		15,000		15,170,248
2.80%, 06/16/20		10,000		10,048,722
3.08%, 01/27/20, (3 mo. LIBOR US + 1.140%)^(b)(e)		3,000		3,006,835
3.15%, 01/20/22 (Call 01/20/21),
(3 mo. LIBOR US + 1.180%)^(b)		15,000		15,155,010
3.34%, 10/24/23 (Call 10/24/22),
(3 mo. LIBOR US + 1.400%)^(b)		40,000		40,807,350
National Australia Bank Ltd., 2.66%, 05/22/20,
(3 mo. LIBOR US + 0.510%)^(a)(b)		10,000		10,027,300
Nordea Bank Abp, 2.59%, 05/29/20,
(3 mo. LIBOR US + 0.470%)^(a)(b)(e)		15,000		15,034,743
Royal Bank of Canada, 2.52%, 03/02/20,
(3 mo. LIBOR US + 0.380%)^(b)(e)		5,000		5,004,905
Santander UK Group Holdings PLC 2.88%, 10/16/20		33,000		33,140,448
3.13%, 01/08/21		10,000		10,094,436
Skandinaviska Enskilda Banken AB 2.55%, 05/17/21, (3 mo. LIBOR US + 0.430%)^(a)(b)		10,000		10,027,600
2.63%, 11/17/20^(a)		20,000		20,108,920
Standard Chartered PLC, 3.05%, 01/15/21^(a)(e)		20,000		20,176,616
Sumitomo Mitsui Banking Corp., 2.45%, 01/16/20		10,000		10,011,597
SunTrust Bank/Atlanta GA, 2.44%, 10/26/21 (Call 10/26/20), (3 mo. LIBOR US + 0.500%)^(b)		32,020		32,069,921
Svenska Handelsbanken AB 2.46%, 09/08/20, (3 mo. LIBOR US + 0.360%)^(b)(e)		5,000		5,010,246
2.60%, 05/24/21, (3 mo. LIBOR US + 0.470%)^(b)		12,500		12,551,481
Synchrony Bank, 2.73%, 03/30/20,
(3 mo. LIBOR US + 0.625%)^(b)		30,000		30,025,812
U.S. Bank N.A./Cincinnati OH, 2.05%, 10/23/20 (Call 09/23/20)^(e)		10,000		10,023,040


Security	Par (000)		Value

Banks (continued)
UBS AG/London 2.45%, 12/01/20 (Call 11/01/20)^(a)	$	15,000	$	15,059,700
2.62%, 12/01/20 (Call 11/01/20),
(3 mo. LIBOR US + 0.480%)^(a)(b)(e)		5,000		5,013,610
2.68%, 06/08/20 (Call 05/08/20),
(3 mo. LIBOR US + 0.580%)^(a)(b)		5,300		5,313,611
UBS Group Funding Switzerland AG, 3.37%, 05/23/23 (Call 05/23/22), (3 mo. LIBOR US + 1.220%)^(a)(b)(e)		20,000		20,264,800
Wells Fargo & Co. 2.55%, 12/07/20		15,000		15,112,453
2.83%, 07/22/20, (3 mo. LIBOR US + 0.880%)^(b)(e)		5,000		5,026,543
3.47%, 03/04/21, (3 mo. LIBOR US + 1.340%)^(b)		30,000		30,414,600
Wells Fargo Bank N.A. 2.43%, 07/23/21 (Call 07/23/20),
(3 mo. LIBOR US + 0.500%)^(b)		15,000		15,023,582
2.46%, 10/22/21 (Call 09/21/21),
(3 mo. LIBOR US + 0.510%)^(b)		30,000		30,109,770

				1,403,979,858

Biotechnology — 0.3%
Amgen Inc., 2.63%, 05/11/20,
(3 mo. LIBOR US + 0.450%)^(b)(e)		8,100		8,113,601
Gilead Sciences Inc., 2.55%, 09/01/20		10,000		10,054,926

				18,168,527

Chemicals — 1.0%
DuPont de Nemours Inc. 2.87%, 11/15/20, (3 mo. LIBOR US + 0.710%)^(b)		47,500		47,717,682
3.77%, 11/15/20		5,000		5,091,079
PPG Industries Inc., 2.30%, 11/15/19		10,868		10,869,000

				63,677,761

Computers — 0.6%
Hewlett Packard Enterprise Co. 2.76%, 10/05/21 (Call 11/15/19),
(3 mo. LIBOR US + 0.720%)^(b)		20,000		20,000,151
3.60%, 10/15/20 (Call 09/15/20)^(g)		10,000		10,134,232
IBM Credit LLC, 2.59%, 11/30/20,
(3 mo. LIBOR US + 0.470%)^(b)		7,250		7,280,640

				37,415,023

Diversified Financial Services — 3.7%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 4.25%, 07/01/20		35,000		35,469,021
4.63%, 10/30/20		20,000		20,495,554
AIG Global Funding, 2.57%, 07/02/20,
(3 mo. LIBOR US + 0.480%)^(a)(b)(e)		3,695		3,706,373
American Express Co. 2.27%, 10/30/20 (Call 09/29/20),
(3 mo. LIBOR US + 0.330%)^(b)(e)		7,750		7,763,020
2.78%, 02/27/23 (Call 01/27/23),
(3 mo. LIBOR US + 0.650%)^(b)		4,000		4,014,647
2.89%, 11/05/21 (Call 10/05/21),
(3 mo. LIBOR US + 0.600%)^(b)(e)		10,000		10,052,900
American Express Credit Corp., 2.57%, 03/03/20 (Call 02/03/20), (3 mo. LIBOR US + 0.430%)^(b)		10,000		10,011,678
Capital One Financial Corp. 2.39%, 10/30/20 (Call 09/30/20),
(3 mo. LIBOR US + 0.450%)^(b)(e)		5,000		5,008,968
3.05%, 03/09/22 (Call 02/09/22),
(3 mo. LIBOR US + 0.950%)^(b)		24,635		24,833,010
3.45%, 04/30/21 (Call 03/30/21)		10,000		10,206,993


Security	Par (000)		Value

Diversified Financial Services (continued)
GE Capital International Funding Co. Unlimited Co., 2.34%, 11/15/20	$	40,000	$	39,975,022
Horsepower Finance Ltd., 2.15%, 12/02/19^(h)		10,000		9,997,300
Nomura Holdings Inc., 6.70%, 03/04/20		31,841		32,331,744
Synchrony Financial, 2.70%, 02/03/20 (Call 01/03/20)		17,695		17,710,095

				231,576,325

Electric — 1.0%
Duke Energy Florida LLC, 1.85%, 01/15/20		8,000		8,000,043
Duke Energy Progress LLC, 2.28%, 09/08/20,
(3 mo. LIBOR US + 0.180%)^(b)		9,835		9,845,170
Exelon Generation Co. LLC, 2.95%, 01/15/20 (Call 12/15/19)		30,000		30,017,950
Florida Power & Light Co., 2.64%, 05/06/22 (Call 11/12/19), (3 mo. LIBOR US + 0.400%)^(b)		8,645		8,645,432
Sempra Energy, 2.50%, 01/15/21 (Call 12/02/19),
(3 mo. LIBOR US + 0.500%)^(b)		5,065		5,061,321

				61,569,916

Electronics — 0.2%
Tyco Electronics Group SA, 2.58%, 06/05/20,
(3 mo. LIBOR US + 0.450%)^(b)		15,000		15,010,395


Food — 1.4%
Campbell Soup Co., 2.75%, 03/15/21,
(3 mo. LIBOR US + 0.630%)^(b)		15,000		15,032,683
Conagra Brands Inc. 2.51%, 10/09/20, (3 mo. LIBOR US + 0.500%)^(b)		7,000		7,010,265
2.70%, 10/22/20 (Call 11/12/19),
(3 mo. LIBOR US + 0.750%)^(b)		9,945		9,945,796
General Mills Inc., 2.54%, 04/16/21,
(3 mo. LIBOR US + 0.540%)^(b)		26,636		26,708,184
Kraft Heinz Foods Co. 2.75%, 02/10/21, (3 mo. LIBOR US + 0.570%)^(b)		4,010		4,006,119
3.00%, 08/10/22, (3 mo. LIBOR US + 0.820%)^(b)		5,000		5,005,358
Tyson Foods Inc. 2.60%, 08/21/20, (3 mo. LIBOR US + 0.450%)^(b)		14,160		14,174,525
2.68%, 06/02/20, (3 mo. LIBOR US + 0.550%)^(b)(e)		5,475		5,484,742

				87,367,672

Health Care - Products — 0.9%
Becton Dickinson and Co. 2.40%, 06/05/20		25,000		25,064,554
2.68%, 12/15/19		1,332		1,332,412
2.98%, 12/29/20 (Call 12/02/19),
(3 mo. LIBOR US + 0.875%)^(b)		21,378		21,388,262
Medtronic Inc., 2.92%, 03/15/20,
(3 mo. LIBOR US + 0.800%)^(b)		5,312		5,326,925

				53,112,153

Health Care - Services — 0.2%
UnitedHealth Group Inc., 2.70%, 07/15/20		10,000		10,060,847


Holding Companies - Diversified — 0.3%
FS KKR Capital Corp., 4.25%, 01/15/20 (Call 12/15/19)		18,449		18,478,143


Insurance — 0.7%
Allstate Corp. (The), 2.53%, 03/29/21,
(3 mo. LIBOR US + 0.430%)^(b)		5,710		5,723,533
American International Group Inc., 3.38%, 08/15/20		2,997		3,030,903
Hartford Financial Services Group Inc. (The), 5.50%, 03/30/20		19,058		19,327,065


Security	Par (000)		Value

Insurance (continued)
Marsh & McLennan Companies Inc., 3.30%, 12/29/21 (Call 12/29/19), (3 mo. LIBOR US + 1.200%)^(b)	$	13,380	$	13,396,503

				41,478,004

Lodging — 0.2%
Marriott International Inc./MD, Series Y, 2.74%, 12/01/20,
(3 mo. LIBOR US + 0.600%)^(b)(e)		10,000		10,025,555


Machinery — 0.6%
Caterpillar Financial Services Corp., 2.67%, 05/15/23,
(3 mo. LIBOR US + 0.510%)^(b)(e)		10,000		10,022,999
John Deere Capital Corp. 2.43%, 03/13/20, (3 mo. LIBOR US + 0.300%)^(b)(e)		6,000		6,007,800
2.45%, 06/22/20, (3 mo. LIBOR US + 0.290%)^(b)(e)		6,000		6,010,681
2.50%, 06/07/21, (3 mo. LIBOR US + 0.400%)^(b)(e)		6,480		6,502,265
Roper Technologies Inc., 3.00%, 12/15/20 (Call 11/15/20)		8,500		8,589,029

				37,132,774

Manufacturing — 0.2%
Siemens Financieringsmaatschappij NV 2.15%, 05/27/20^(a)		10,000		10,021,400
2.46%, 03/16/20, (3 mo. LIBOR US + 0.340%)^(a)(b)(e)		2,000		2,003,240

				12,024,640

Media — 2.2%
Charter Communications Operating LLC/Charter Communications Operating Capital, 3.58%, 07/23/20 (Call 06/23/20)		96,750		97,576,073
Comcast Corp., 2.54%, 10/01/21,
(3 mo. LIBOR US + 0.440%)^(b)		42,930		43,158,817

				140,734,890

Oil & Gas — 1.5%
Encana Corp., 3.90%, 11/15/21 (Call 08/15/21)		15,407		15,813,411
Newfield Exploration Co., 5.75%, 01/30/22		20,000		21,356,446
Occidental Petroleum Corp., 3.64%, 08/15/22 (Call 08/15/20), (3 mo. LIBOR US + 1.450%)^(b)		53,070		53,398,272
Phillips 66, 2.75%, 04/15/20 (Call 12/02/19),
(3 mo. LIBOR US + 0.750%)^(a)(b)		5,625		5,626,955

				96,195,084

Packaging & Containers — 0.2%
Packaging Corp. of America, 2.45%, 12/15/20		10,405		10,447,246


Pharmaceuticals — 5.4%
AbbVie Inc., 2.50%, 05/14/20 (Call 04/14/20)		62,500		62,673,483
Allergan Funding SCS 3.00%, 03/12/20 (Call 02/12/20)		94,829		95,062,881
3.39%, 03/12/20, (3 mo. LIBOR US + 1.255%)^(b)		20,505		20,570,418
3.45%, 03/15/22 (Call 01/15/22)		10,000		10,246,521
Allergan Inc./U.S., 3.38%, 09/15/20		15,732		15,901,961
Cigna Corp., 3.20%, 09/17/20		30,000		30,310,823
CVS Health Corp. 2.73%, 03/09/20, (3 mo. LIBOR US + 0.630%)^(b)		531		531,800
2.80%, 07/20/20 (Call 06/20/20)		86,485		86,896,078
2.82%, 03/09/21, (3 mo. LIBOR US + 0.720%)^(b)		10,000		10,055,200
Express Scripts Holding Co., 2.60%, 11/30/20		8,200		8,253,908

				340,503,073

Pipelines — 3.6%
Enbridge Inc., 2.41%, 01/10/20,
(3 mo. LIBOR US + 0.400%)^(b)		5,230		5,232,824
Energy Transfer Operating LP 4.15%, 10/01/20 (Call 08/01/20)		37,445		37,992,462
7.50%, 10/15/20		3,500		3,672,401


Security	Par (000)		Value

Pipelines (continued)
Enterprise Products Operating LLC, 5.20%, 09/01/20	$	10,000	$	10,271,624
Kinder Morgan Energy Partners LP, 6.85%, 02/15/20		15,830		16,036,713
Kinder Morgan Inc./DE, 5.00%, 02/15/21 (Call 01/15/21)^(a)(e)		10,000		10,330,015
MPLX LP
3.00%, 09/09/21 (Call 09/09/20), (3 mo. LIBOR US + 0.900%)^(b)		6,825		6,852,426
6.25%, 10/15/22 (Call 11/15/19)^(a)		2,000		2,036,014
Plains All American Pipeline LP/PAA Finance Corp., 5.00%, 02/01/21 (Call 11/01/20)		16,130		16,562,315
Spectra Energy Partners LP, 2.83%, 06/05/20,
(3 mo. LIBOR US + 0.700%)^(b)(e)		32,000		32,061,177
TransCanada PipeLines Ltd. 2.13%, 11/15/19		37,540		37,539,566
3.80%, 10/01/20		5,127		5,211,109
Williams Companies Inc. (The), 5.25%, 03/15/20		43,300		43,780,152

				227,578,798

Retail — 0.1%
Walgreens Boots Alliance Inc., 2.70%, 11/18/19		3,058		3,058,649


Semiconductors — 2.1%
Broadcom Corp./Broadcom Cayman Finance Ltd. 2.20%, 01/15/21		10,000		10,000,217
2.38%, 01/15/20		60,845		60,864,470
Broadcom Inc., 3.13%, 04/15/21^(a)		30,800		31,161,885
Intel Corp., 2.26%, 05/11/20,
(3 mo. LIBOR US + 0.080%)^(b)		13,700		13,703,683
Lam Research Corp., 2.75%, 03/15/20 (Call 02/15/20)		7,555		7,569,885
QUALCOMM Inc., 2.25%, 05/20/20		10,000		10,008,200

				133,308,340

Software — 0.3%
Fidelity National Information Services Inc., 3.63%, 10/15/20 (Call 09/15/20)		10,000		10,139,277
Fiserv Inc., 2.70%, 06/01/20 (Call 05/01/20)		8,580		8,618,751

				18,758,028

Telecommunications — 3.2%
AT&T Inc. 2.45%, 06/30/20 (Call 05/30/20)		20,000		20,054,240
2.80%, 02/17/21 (Call 01/17/21)		26,900		27,170,229
2.89%, 06/01/21, (3 mo. LIBOR US + 0.750%)^(b)		13,250		13,308,453
2.95%, 07/15/21, (3 mo. LIBOR US + 0.950%)^(b)		25,000		25,255,000
3.31%, 06/12/24, (3 mo. LIBOR US + 1.180%)^(b)		10,000		10,173,773
BellSouth LLC, 4.27%, 04/26/21 (Call 04/26/20)^(a)		35,000		35,032,200
Deutsche Telekom International Finance BV 2.23%, 01/17/20^(a)(e)		13,687		13,686,989
2.58%, 01/17/20, (3 mo. LIBOR US + 0.580%)^(a)(b)(e)		12,000		12,010,729
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 3.36%, 09/20/21^(a)		4,651		4,680,069
Verizon Communications Inc.
2.70%, 05/22/20, (3 mo. LIBOR US + 0.550%)^(b)(e)		22,940		23,003,219
3.12%, 03/16/22, (3 mo. LIBOR US + 1.000%)^(b)(e)		15,373		15,620,700

				199,995,601

Transportation — 0.1%
Ryder System Inc., 2.65%, 03/02/20 (Call 02/02/20)		7,725		7,736,840


Security	Par/ Shares (000)		Value

Trucking & Leasing — 0.2%
Penske Truck Leasing Co. LP/PTL Finance Corp., 3.20%, 07/15/20 (Call 06/15/20)^(a)(e)	$	12,000	$	12,075,666


Total Corporate Bonds & Notes — 60.7% (Cost: $3,784,230,049)				3,798,096,201


Repurchase Agreements
Mizuho Securities USA Inc., 2.48%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $30,002,064, collateralized by non-agency mortgage-backed security, 2.05% to 6.41%, due 04/25/24 to 03/15/44, par and fair value of $37,052,390 and $33,984,298, respectively) (b)(i)		30,000		30,000,000


Total Repurchase Agreements — 0.5% (Cost: $30,000,000)				30,000,000


U.S. Government Agency Obligations

Mortgage-Backed Securities — 0.1%
Federal National Mortgage Association 5.00% 01/01/20		13		13,831
FHLMC Multifamily Structured Pass Through Certificates
Series K010, Class A2, 4.33%, 10/25/20 ^(b)		1,237		1,258,371
Series K032, Class A1, 3.02%, 02/25/23		754		768,295
Series K037, Class A1, 2.59%, 04/25/23		967		978,307
Series K721, Class A1, 2.61%, 01/25/22		1,558		1,570,406


Total U.S. Government Agency Obligations — 0.1% (Cost: $4,579,187)				4,589,210


Money Market Funds
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.00%^(j)(k)(l)		25,595		25,607,739
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(j)(k)		114,910		114,910,000


Total Money Market Funds — 2.2% (Cost: $140,505,328)				140,517,739


Total Investments in Securities — 98.6% (Cost: $6,158,727,235)				6,175,331,364

Other Assets, Less Liabilities — 1.4%				84,927,321


Net Assets — 100.0%			$	6,260,258,685

^(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 or floating rate security. Rate shown is the rate in effect as of period-end.

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

^(g)	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.

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

⁽ⁱ⁾	Maturity date represents next reset date.

(^j)	Affiliate of the Fund.

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

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

For the year ended October 31, 2019, 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 table summarizes the value of the Fund’s investments according to the fair value hierarchy as of October 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

The following table includes a rollforward for the year ended October 31, 2019 of investments whose values are classified as Level 3 as of the beginning or end of the year.

The Fund’s investments that are categorized as Level 3 were valued utilizing a single broker quote without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.


Security	Par (000)		Value

Municipal Debt Obligations

Alabama — 2.4%
Bessemer Governmental Utility Services Corp. RB, 5.00%, 06/01/20 (BAM)	$	515	$	525,223
Black Belt Energy Gas District RB 4.00%, 06/01/20		1,605		1,627,438
4.00%, 06/01/21		835		866,412
Series A, 5.00%, 12/01/19		500		501,285
Southeast Alabama Gas Supply District (The) RB, 4.00%, 06/01/22		1,500		1,587,420

				5,107,778

Arizona — 0.2%
Glendale Union High School District No. 205 GO, 5.00%, 07/01/21		500		531,265


California — 0.3%
Lancaster Redevelopment Agency Successor Agency TA, 3.00%, 08/01/20		700		709,793


Colorado — 0.8%
County of Arapahoe Co. RB, 1.12%, 08/01/31
(Put 11/07/19)^(a)(b)		1,600		1,600,000


Connecticut — 4.3%
State of Connecticut GO 5.00%, 06/01/21		670		708,840
5.00%, 07/15/22		900		987,165
Series A, 5.00%, 04/15/20		1,200		1,220,268
Series C, 1.19%, 05/15/34 (Put 11/07/19)^(a)(b)		2,325		2,325,000
Series C, 5.00%, 06/01/20		720		735,660
State of Connecticut Special Tax Revenue RB, Series A, 5.00%, 09/01/21		2,000		2,133,760
University of Connecticut RB, Series A, 5.00%, 04/15/20		1,000		1,016,520

				9,127,213

District of Columbia — 1.4%
District of Columbia RB, 1.17%, 04/01/38 (Put 11/07/19)^(a)(b)		2,900		2,900,000


Florida — 3.2%
Alachua County Health Facilities Authority RB 5.00%, 12/01/20		645		670,142
5.00%, 12/01/21		390		418,989
County of Palm Beach FL RB, 1.18%, 07/01/32
(Put 11/07/19)^(a)(b)		5,000		5,000,000
Palm Beach County Health Facilities Authority RB, 5.00%, 08/15/20		530		545,481
Pinellas County Health Facilities Authority RB, Series A1, 1.24%, 11/01/38^(a)(b)		100		100,000

				6,734,612

Georgia — 12.1%
Bartow County Development Authority RB, 1.55%, 08/01/43
(Put 08/19/22)^(a)(b)		2,000		1,990,640
Burke County Development Authority RB, 2.25%, 10/01/32
(Put 05/25/23)^(a)(b)		2,000		2,031,140
City of Atlanta GA TA, 5.00%, 12/01/19 (TA)		365		365,967
Cobb County Development Authority RB, 5.00%, 07/15/20		545		558,860
Main Street Natural Gas Inc. RB 2.19%, 08/01/48 (Put 09/01/23)^(a)		5,000		4,995,530
4.00%, 06/01/20		500		508,130
4.00%, 04/01/48 (Put 09/01/23)^(a)(b)		3,685		3,993,987
5.00%, 05/15/20		500		508,945
5.00%, 05/15/21		1,000		1,050,810


Security	Par (000)		Value

Georgia (continued)
Monroe County Development Authority RB, 1.37%, 06/01/49^(a)(b)	$	4,800	$	4,800,000
Tender Option Bond Trust Receipts/Certificates RB 1.15%, 07/01/49 (Put 11/07/19)^(a)(b)(c)		3,000		3,000,000
1.17%, 01/01/44 (Put 11/07/19) (AGM)^(a)(b)(c)		1,700		1,700,000

				25,504,009

Illinois — 4.2%
Chicago Transit Authority RB, 5.00%, 06/01/20		750		764,325
Illinois Development Finance Authority RB, 1.18%, 06/01/29
(Put 11/07/19)^(a)(b)		1,100		1,100,000
Illinois Finance Authority RB, 1.18%, 11/01/38
(Put 11/07/19)^(a)(b)		1,320		1,320,000
Illinois Health Facilities Authority RB, 1.17%, 08/15/35
(Put 11/07/19)^(a)(b)		1,762		1,762,000
Tender Option Bond Trust Receipts/Certificates GO, 1.18%, 03/01/33 (Put 11/07/19)^(a)(b)(c)		4,000		4,000,000

				8,946,325

Indiana — 1.1%
City of Rockport IN RB, Series B, 1.35%, 07/01/25
(Put 09/01/22)^(a)(b)		2,250		2,238,435


Iowa — 2.9%
Iowa Finance Authority RB, 1.41%, 04/01/22
(Put 11/07/19)^(a)(b)		6,055		6,055,000


Kansas — 4.3%
City of Burlington KS RB 1.41%, 09/01/35 (Put 11/07/19)^(a)(b)		6,000		6,000,000
1.41%, 09/01/35 (Put 11/07/19)^(a)(b)		3,000		3,000,000

				9,000,000

Kentucky — 1.9%
Kentucky Public Energy Authority RB 4.00%, 06/01/20		650		658,710
4.00%, 12/01/20		1,070		1,096,665
4.00%, 06/01/21		1,060		1,098,181
Kentucky State Property & Building Commission RB, Series D, 5.00%, 05/01/21		600		632,556
Tender Option Bond Trust Receipts/Certificates RB, Series 2018, 1.15%, 12/01/41 (Put 11/07/19) (AGM)^(a)(b)(c)		500		500,000

				3,986,112

Louisiana — 4.2%
Louisiana Public Facilities Authority RB, 5.00%, 05/15/21		400		422,164
Parish of St James LA RB, Series B1, 1.26%, 11/01/40 (Put 11/07/19)^(a)(b)		8,500		8,500,000

				8,922,164

Maryland — 0.8%
Maryland Industrial Development Financing Authority RB, 1.51%, 03/01/30 (Put 11/07/19)^(a)(b)		1,600		1,600,000


Massachusetts — 1.0%
Massachusetts Development Finance Agency RB, 5.00%, 07/01/21		975		1,029,473
Town of Salisbury MA GOL, 2.00%, 09/11/20		1,000		1,004,410

				2,033,883

Michigan — 1.4%
Michigan State Housing Development Authority RB, Series D, 1.19%, 06/01/30 (Put 11/07/19)^(a)(b)		1,000		1,000,000
Michigan Strategic Fund RB, 1.49%, 06/01/39^(a)(b)		890		890,000


Security	Par (000)		Value

Michigan (continued)
Wayne-Westland Community Schools GO 4.00%, 05/01/21 (Q-SBLF)	$	175	$	181,860
4.00%, 11/01/21 (Q-SBLF)		780		820,443

				2,892,303

Missouri — 1.1%
City of Washington MO COP, 5.00%, 03/01/22		350		378,840
RBC Municipal Products Inc. Trust RB, 1.18%, 09/01/39 (Put 11/07/19)^(a)(b)(c)		2,000		2,000,000

				2,378,840

Nebraska — 0.5%
Central Plains Energy Project RB, 5.00%, 08/01/39
(Put 12/01/19)^(a)(b)		1,000		1,002,630


New Jersey — 16.1%
Borough of North Plainfield NJ GO, 3.00%, 12/11/19		1,400		1,402,450
Borough of Tinton Falls NJ GO, 2.00%, 10/29/20		900		905,886
Garden State Preservation Trust RB, 5.00%, 11/01/20		1,690		1,749,099
New Jersey Economic Development Authority RB 5.00%, 03/01/20		1,730		1,749,462
5.00%, 06/15/21		4,250		4,481,115
5.00%, 06/15/21		1,500		1,581,570
5.50%, 09/01/21 (Call 03/01/21)		675		709,783
Series A, 4.00%, 07/01/22		2,000		2,107,880
Series K, 5.25%, 12/15/20 (AMBAC)		1,000		1,040,800
Series K, 5.50%, 12/15/19 (AMBAC)		750		753,353
Series NN, 5.00%, 03/01/21 (SAP)		1,215		1,269,675
Series NN, 5.00%, 03/01/22		2,200		2,368,300
Series PP, 5.00%, 06/15/20		1,475		1,506,196
Series UU, 5.00%, 06/15/23		1,270		1,412,672
Series XX, 5.00%, 06/15/20		200		204,230
New Jersey Health Care Facilities Financing Authority RB 5.00%, 10/01/20		1,600		1,649,872
Series A, 5.00%, 07/01/20		500		512,510
New Jersey Sports & Exposition Authority RB, 5.00%, 09/01/20		1,250		1,282,887
New Jersey Transportation Trust Fund Authority RB 5.25%, 12/15/19		1,500		1,506,330
5.25%, 12/15/20 (AGM)		500		520,905
5.50%, 12/15/19 (NPFGC)		530		532,433
Series A, 5.00%, 06/15/20		665		678,985
Series A, 5.25%, 12/15/19		530		532,237
Series A, 5.50%, 12/15/23		155		177,388
Series A-1, 5.00%, 06/15/20		1,275		1,303,573
Series B, 5.50%, 12/15/20 (NPFGC)		155		161,730
Series B, 5.50%, 12/15/21 (NPFGC)		625		675,906
Series D, 5.00%, 12/15/23		225		253,062
Township of Jackson New Jersey GO, 2.00%, 02/13/20		872		873,753

				33,904,042

New Mexico — 0.3%
New Mexico Municipal Energy Acquisition Authority RB, 4.00%, 05/01/22		600		638,046


New York — 13.4%
Adirondack Central School District GO, 2.25%, 07/17/20 (SAW)		1,133		1,141,228
Albany Industrial Development Agency RB, 1.43%, 07/01/32 (Put 11/07/19)^(a)(b)		1,110		1,110,000
Amherst Development Corp. RB, Series A, 1.17%, 02/01/35 (Put 11/07/19)^(a)(b)		1,755		1,755,000
City of Tonawanda NY GOL, 2.50%, 06/04/20		1,219		1,226,850


Security	Par (000)		Value

New York (continued)
City of Yonkers NY GOL, 3.00%, 12/17/19	$	3,900	$	3,908,229
County of Nassau NY GOL, 4.00%, 12/10/19		5,000		5,014,500
East Islip Union Free School District GO, 2.25%, 07/02/20 (SAW)		1,100		1,107,843
Honeoye Falls-Lima Central School District GO, 2.25%, 06/18/20 (SAW)		1,425		1,433,749
New York City Water & Sewer System RB, 1.35%, 06/15/48^(a)(b)		400		400,000
Rhinebeck Central School District GO, 2.25%, 06/26/20 (SAW)		1,500		1,509,540
Sandy Creek Central School District GO, 2.25%, 06/26/20 (SAW)		1,100		1,106,996
South Jefferson Central School District GO, 2.25%, 07/09/20 (SAW)		1,700		1,711,424
Tender Option Bond Trust Receipts/Certificates RB, 1.24%, 11/15/56 (Put 11/07/19)^(a)(b)(c)		2,500		2,500,000
Town of New Windsor New York GOL, 2.25%, 06/26/20		1,300		1,307,878
Watkins Glen Central School District GO, 2.25%, 06/23/20 (SAW)		1,300		1,308,177
Windsor Central School District GO, 2.25%, 07/24/20 (SAW)		1,700		1,712,121

				28,253,535

North Carolina — 0.3%
North Carolina Turnpike Authority RB 5.00%, 01/01/21		425		441,817
5.00%, 01/01/22		215		230,601

				672,418

Ohio — 6.2%
City of Berea OH GOL, 3.00%, 03/12/20		1,600		1,609,040
City of Kirtland OH GOL, 2.75%, 06/18/20 (ST STANDBY NT PURCHASE)		600		605,310
City of Miamisburg OH GOL, 3.00%, 06/24/20 (ST STANDBY NT PURCHASE)		1,500		1,516,095
City of Parma OH GOL, 2.50%, 07/23/20 (ST STANDBY NT PURCHASE)		1,200		1,210,224
County of Belmont OH GOL, 2.00%, 08/27/20		1,510		1,515,723
County of Lorain OH GOL, 3.00%, 02/07/20		2,325		2,335,951
Lancaster Port Authority RB, 5.00%, 02/01/21		300		312,852
Little Miami Local School District GO, 3.00%, 11/21/19		1,000		1,000,810
State of Ohio RB, 1.30%, 11/01/35 (Put 12/02/19)^(a)(b)		3,000		2,999,703

				13,105,708

Pennsylvania — 2.6%
Commonwealth of Pennsylvania GO, 5.00%, 04/01/20		800		812,376
Connellsville Area School District GOL 4.00%, 08/15/21 (BAM SAW)		500		520,565
4.00%, 08/15/22 (BAM SAW)		500		531,365
Palmyra Area School District GOL 4.00%, 04/01/20 (SAW)		560		566,104
4.00%, 04/01/21 (SAW)		900		933,462
Pennsylvania Economic Development Financing Authority RB, 2.15%, 11/01/21		1,000		1,013,160
School District of Philadelphia (The) GO, Series C, 4.00%, 03/31/20 (SAW)		1,000		1,010,520

				5,387,552

Tennessee — 0.2%
Jackson Energy Authority RB, 5.00%, 12/01/19		350		350,973


Texas — 9.0%
City of Houston TX GOL, Series A, 5.00%, 03/01/20		1,000		1,012,140
Harris CountyTexas RB, 1.41%, 12/11/19		3,700		3,700,535


Security	Par (000)		Value

Texas (continued)
Port of Arthur Navigation District Industrial Development Corp. RB, 1.16%, 03/01/42 (Put 11/07/19)^(a)(b)	$	2,000	$	2,000,000
State of Texas GO 1.18%, 06/01/46 (Put 11/07/19)^(a)(b)		660		660,000
1.21%, 12/01/41 (Put 11/07/19)^(a)(b)		6,760		6,760,000
1.26%, 12/01/47 (Put 11/07/19)^(a)(b)		800		800,000
Tender Option Bond Trust Receipts/Certificates RB 1.22%, 06/15/27 (Put 11/07/19)^(a)(b)(c)		1,500		1,500,000
1.25%, 01/01/28 (Put 11/07/19)^(a)(b)(c)		2,435		2,435,000

				18,867,675

Utah — 0.9%
County of Utah UT RB, 1.18%, 05/15/51 (Put 11/07/19)^(a)(b)		2,000		2,000,000


Virginia — 0.9%
University of Virginia RB, 1.29%, 05/27/20		2,000		2,000,540


Washington — 1.0%
Grant County Public Utility District No. 2 RB, 2.00%, 01/01/44 (Put 09/01/20)^(a)(b)		1,000		1,006,600
Washington Higher Education Facilities Authority RB, 1.18%, 10/01/29 (Put 11/07/19)^(a)(b)		1,000		1,000,000

				2,006,600

Wisconsin — 0.2%
Wisconsin Health & Educational Facilities Authority RB, 5.00%, 10/01/21		400		427,752


Total Municipal Debt Obligations — 99.2% (Cost $208,374,565)				208,885,203


Security	Shares (000)		Value

Money Market Funds
BlackRock Liquidity Funds: MuniCash, 1.04%^(d)(e)		60	$	60,272


Total Money Market Funds — 0.0% (Cost: $60,272)				60,272


Total Investments in Securities — 99.2% (Cost: $208,434,837)				208,945,475

Other Assets, Less Liabilities — 0.8%				1,587,001


Net Assets — 100.0%			$	210,532,476

^(a)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

^(b)	Security is payable upon demand on each reset date.

^(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.

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:


Security	Par (000)		Value

Asset-Backed Securities
BMW Vehicle Owner Trust, 2.05%, 05/25/22	$	15,830	$	15,849,576
Capital One Multi-Asset Execution Trust, Class A6, 1.82%, 09/15/22		3,000		2,999,646
CarMax Auto Owner Trust
Class A2A, 2.21%, 12/15/22		7,280		7,300,159
Class A2A, 3.02%, 07/15/22		2,883		2,897,685
CNH Equipment Trust, Class A2, 2.96%, 05/16/22		4,136		4,155,632
Discover Card Execution Note Trust, Class A, 2.19%, 12/15/23, (1 mo. LIBOR US + 0.270%)^(a)		10,000		10,004,847
Toyota Auto Receivables Owner Trust, Class A2, 2.77%, 08/16/21		1,679		1,683,192


Total Asset-Backed Securities — 2.0% (Cost: $44,778,743)				44,890,737


Certificates of Deposit
Banco Santander SA, 3.09%, 01/29/20		8,000		8,022,084
Banco Santander SA/New York, 2.24%, 01/06/20, (1 mo. LIBOR US + 0.240%)^(a)		5,000		5,001,188
Bank of Montreal/Chicago IL 2.21%, 10/02/20, (SOFRRATE + 0.400%)^(a)		20,000		20,025,019
2.34%, 03/06/20, (3 mo. LIBOR US + 0.190%)^(a)		2,000		2,001,140
2.46%, 11/01/19^(a)		1,500		1,500,000
Bank of Nova Scotia/Houston 2.08%, 04/16/20, (FEDL01 + 0.260%)^(a)		3,000		3,000,127
2.27%, 10/23/20, (FEDL01 + 0.450%)^(a)		8,000		8,000,676
2.33%, 02/18/20, (3 mo. LIBOR US + 0.180%)^(a)		1,000		1,000,573
Barclays Bank PLC 2.42%, 08/10/20^(a)		2,000		2,001,410
2.48%, 10/08/20, (3 mo. LIBOR US + 0.450%)^(a)		5,000		4,999,980
3.01%, 12/23/19		2,000		2,003,065
3.06%, 12/05/19		3,000		3,003,407
3.20%, 01/31/20		3,000		3,008,421
BNP Paribas SA/New York NY, 2.64%, 02/01/21^(a)		17,000		16,999,981
Canadian Imperial Bank of Commerce, 2.67%, 05/02/20^(a)		2,000		2,003,011
Credit Agricole Corporate and Investment Bank/New York 2.37%, 01/11/21, (3 mo. LIBOR US + 0.270%)^(a)		3,000		3,000,342
2.48%, 08/25/20^(a)		5,000		5,005,580
2.52%, 07/13/20, (3 mo. LIBOR US + 0.470%)^(a)		6,000		6,013,189
2.54%, 05/11/20, (3 mo. LIBOR US + 0.385%)^(a)		2,000		2,003,349
2.64%, 09/09/21, (3 mo. LIBOR US + 0.480%)^(a)		6,000		6,001,058
2.72%, 09/24/20, (3 mo. LIBOR US + 0.400%)^(a)		1,800		1,802,359
Credit Industriel Et Commercial 2.79%, 03/25/20		7,000		6,947,340
2.89%, 11/07/19		7,000		6,997,592
Credit Suisse AG/New York NY 2.15%, 01/30/20, (SOFRRATE + 0.210%)^(a)		3,000		3,000,074
2.19%, 05/22/20, (SOFRRATE + 0.370%)^(a)		5,000		4,999,207
2.26%, 09/25/20, (SOFRRATE + 0.450%)^(a)		7,000		7,010,789
2.70%, 05/01/20		4,000		4,015,095
DNB Bank ASA/New York, 2.28%, 07/19/21,
(3 mo. LIBOR US + 0.220%)^(a)		13,000		12,999,974
DZ Bank AG Deutsche Zentral 2.18%, 02/27/20		20,000		19,874,194
4.41%, 02/03/20		8,000		7,960,110
Goldman Sachs Bank USA/New York NY 2.24%, 02/26/21, (SOFRRATE + 0.430%)^(a)		4,000		3,998,913
2.73%, 06/29/20, (SOFRRATE + 0.250%)^(a)		2,750		2,749,981


Security	Par (000)		Value
Landesbank Baden-Wuerttemberg 2.17%, 01/09/20	$	8,000	$	8,004,979
2.28%, 02/05/20		20,000		19,883,421
Lloyds Bank Corporate Markets PLC/New York NY 2.37%, 03/13/20^(a)		7,000		7,004,962
2.42%, 09/24/20, (3 mo. LIBOR US + 0.500%)^(a)		2,800		2,806,135
2.46%, 04/26/21^(a)		7,000		7,007,100
2.57%, 07/19/21^(a)		4,000		3,999,989
Mizuho Bank Ltd., 2.18%, 03/23/20		8,000		8,006,301
Mizuho Bank Ltd./NY 1.93%, 04/30/20		6,000		5,999,126
2.38%, 04/15/20, (3 mo. LIBOR US + 0.330%)^(a)		1,500		1,501,605
2.40%, 01/15/20, (3 mo. LIBOR US + 0.310%)^(a)		2,000		2,001,026
Morgan Stanley Bank N.A., 2.32%, 02/19/21^(b)		4,400		4,399,998
MUFG Bank Ltd. 1.98%, 10/15/20		6,000		6,002,205
2.02%, 08/26/20		4,000		4,002,389
2.44%, 01/25/21, (3 mo. LIBOR US + 0.500%)^(a)		2,000		2,004,363
2.50%, 07/16/21, (3 mo. LIBOR US + 0.500%)^(a)		3,000		3,001,488
2.72%, 02/24/20		2,000		2,005,046
2.84%, 02/24/20		3,000		3,008,670
Natixis SA/New York NY 2.12%, 06/05/20, (SOFRRATE + 0.300%)^(a)		3,000		3,002,434
2.36%, 07/23/20^(a)		4,000		4,003,136
Nordea Bank AB/New York NY 2.30%, 07/10/20, (3 mo. LIBOR US + 0.290%)^(a)		4,000		4,005,452
2.45%, 08/10/20, (3 mo. LIBOR US + 0.270%)^(a)		1,000		1,001,375
Norinchukin Bank (The), 1.93%, 04/09/20		15,000		15,000,061
Oversea-Chinese Banking Corp. Ltd., 1.87%, 08/04/20		12,000		12,000,000
Skandin Enskilda Banken AG, 1.93%, 10/16/20		6,000		6,003,251
Skandinaviska Enskilda Banken AB/New York NY, 2.24%, 10/02/20, (3 mo. LIBOR US + 0.150%)^(a)		5,000		4,999,983
Societe Generale/New York NY 2.23%, 05/14/20, (1 mo. LIBOR US + 0.320%)^(a)		4,000		4,002,067
2.80%, 03/13/20		2,000		2,005,759
Standard Chartered Bank, 1.99%, 05/01/20		15,000		15,003,759
Sumitomo Mitsui Banking Corp./New York 2.36%, 07/24/20, (3 mo. LIBOR US + 0.420%)^(a)		2,000		2,002,723
2.45%, 07/12/21, (3 mo. LIBOR US + 0.350%)^(a)		5,000		5,001,645
2.62%, 06/18/20, (3 mo. LIBOR US + 0.410%)^(a)		8,200		8,216,156
2.65%, 09/10/21, (3 mo. LIBOR US + 0.440%)^(a)		5,000		4,999,981
2.68%, 02/12/21^(a)		13,000		13,014,621
Sumitomo Mitsui Trust Bank Ltd./New York 2.24%, 01/15/20^(a)		2,000		2,000,728
2.32%, 05/18/20^(a)		6,000		6,003,518
2.33%, 02/25/20^(a)		6,000		6,003,114
Svenska Handelsbanken/New York NY 2.24%, 10/02/20, (3 mo. LIBOR US + 0.150%)^(a)		10,000		9,999,966
2.37%, 12/19/19, (3 mo. LIBOR US + 0.210%)^(a)		3,000		3,000,917
2.49%, 04/01/20, (3 mo. LIBOR US + 0.400%)^(a)		3,000		3,004,677
Toronto-Dominion Bank (The), 2.17%, 07/24/20		7,000		7,014,326
Toronto-Dominion Bank/NY 2.13%, 07/16/20, (FEDL01 + 0.310%)^(a)		6,000		5,999,984
2.30%, 09/28/20, (3 mo. LIBOR US + 0.190%)^(a)		10,000		10,004,416


Total Certificates of Deposit — 19.8% (Cost: $434,480,993)				434,882,080


Commercial Paper
ABN AMRO Funding USA LLC, 2.73%, 12/09/19^(c)		4,000		3,992,425


Security	Par (000)		Value
AT&T Inc. 1.90%, 12/11/19^(c)	$	9,000	$	8,981,000
2.44%, 12/06/19^(c)		11,000		10,976,504
2.82%, 12/02/19^(c)		7,000		6,986,734
Atlantic Asset Securitization LLC, 2.14%, 03/24/20^(c)		5,000		4,963,508
Barclays Bank PLC, 3.35%, 11/15/19^(c)		2,000		1,998,486
Bedford Row Funding Corp., 1.96%, 04/16/20^(c)		3,000		2,975,472
Bell Canada Inc. 2.17%, 01/10/20^(c)		6,500		6,474,220
2.19%, 01/14/20^(c)		10,000		9,958,021
2.19%, 01/17/20^(c)		6,000		5,973,766
2.30%, 02/13/20^(c)		4,500		4,473,159
2.42%, 11/04/19^(c)		8,350		8,348,291
BP Capital Markets PLC, 2.97%, 03/02/20^(c)		9,000		8,944,373
CenterPoint Energy Inc., 2.00%, 11/25/19^(c)		5,000		4,993,299
COCA-COLA Co., 3.07%, 12/09/19^(c)		1,000		998,235
DBS Bank Ltd., 1.96%, 04/20/20^(c)		9,600		9,516,935
DNB Bank ASA, 2.18%, 03/05/20,
(1 mo. LIBOR US + 0.190%)^(a)		7,500		7,500,076
Electricite de France SA, 2.19%, 01/22/20^(c)		9,000		8,956,155
Enbridge Inc. 2.24%, 11/15/19^(c)		15,000		14,987,063
2.31%, 12/17/19^(c)		8,100		8,078,448
2.34%, 12/18/19^(c)		3,000		2,991,832
Hitachi Capital America Corp. 2.15%, 11/20/19^(c)		2,000		1,997,737
2.16%, 11/14/19^(c)		10,000		9,992,008
HSBC Bank PLC, 2.23%, 10/13/20, (3 mo. LIBOR US + 0.230%)^(a)		10,000		9,999,976
Hyundai Capital America 2.23%, 12/06/19^(c)		7,000		6,985,790
2.28%, 11/01/19^(c)		5,000		4,999,722
ING U.S. Funding LLC, 2.28%, 09/23/20, (3 mo. LIBOR US + 0.170%)^(a)		10,000		10,000,014
Keurig Dr. Pepper Inc., 2.24%, 12/06/19^(c)		4,000		3,991,456
Lloyds Bank PLC, 2.02%, 02/21/20, (1 mo. LIBOR US + 0.170%)^(a)		3,500		3,500,877
Mondelez International Inc., 2.12%, 11/06/19^(c)		10,750		10,746,513
National Grid Electricity Transmission PLC 2.01%, 02/07/20^(c)		2,000		1,988,340
2.12%, 01/23/20^(c)		2,000		1,990,135
2.27%, 12/19/19^(c)		8,000		7,976,600
Nationwide Building Society 2.02%, 04/01/20^(c)		10,000		9,916,063
2.32%, 01/21/20^(c)		17,250		17,182,340
Nissan Motor Acceptance Corp. 2.22%, 01/31/20^(c)		6,000		5,965,960
2.26%, 02/28/20^(c)		6,250		6,203,750
2.44%, 11/27/19^(c)		4,000		3,994,969
Nutrien Ltd. 2.18%, 12/18/19^(c)		6,000		5,983,664
2.23%, 11/25/19^(c)		18,000		17,974,625
2.24%, 12/17/19^(c)		6,000		5,984,036
Oversea-Chinese Banking Corp. Ltd., 1.94%, 10/19/20^(c)		8,000		7,853,995
Parker-Hannifin Corp. 2.24%, 01/07/20^(c)		3,000		2,989,471
2.26%, 12/05/19^(c)		6,000		5,989,692
2.27%, 11/05/19^(c)		5,000		4,998,892
2.27%, 11/06/19^(c)		8,500		8,497,736
2.27%, 11/25/19^(c)		5,300		5,293,802
2.28%, 12/04/19^(c)		4,000		3,993,340


Security	Par (000)		Value
Reckitt Benckiser Treasury Services PLC 2.14%, 05/29/20^(c)	$	3,000	$	2,963,479
2.23%, 04/20/20^(c)		8,000		7,922,333
2.30%, 01/08/20^(c)		15,000		14,946,554
2.50%, 04/30/20^(c)		9,000		8,907,089
2.52%, 04/09/20^(c)		5,500		5,450,289
2.79%, 02/03/20^(c)		2,500		2,487,432
Rogers Communications Inc., 2.24%, 11/05/19^(c)		5,000		4,998,580
Royal Bank of Canada, 2.13%, 08/17/20, (SOFRRATE + 0.310%)^(a)		12,000		11,994,769
Salisbury Receivables Co. LLC, 2.48%, 04/17/20, (SOFRRATE + 0.480%)^(a)		3,000		3,000,000
Santander UK PLC, 2.06%, 02/03/20^(c)		4,000		3,980,208
Shell International Finance BV, 1.97%, 06/26/20^(c)		6,500		6,417,794
Societe Generale SA 2.23%, 08/20/20, (1 mo. LIBOR US + 0.380%)^(a)		10,000		10,008,658
2.38%, 01/09/20^(a)		2,000		2,001,267
2.42%, 12/16/19, (1 mo. LIBOR US + 0.530%)^(a)(d)		1,000		1,000,652
Sumitomo Mitsui Banking Corp./New York, 2.20%, 12/16/19^(c)		9,000		8,978,449
Suncor Energy Inc. 1.99%, 02/03/20^(c)		4,885		4,857,671
2.11%, 02/24/20^(c)		10,000		9,936,490
2.44%, 11/04/19^(c)		4,750		4,748,922
Svenska Handelsbanken AB, 1.94%, 10/16/20^(c)		4,000		3,924,223
TELUS Corp. 2.38%, 11/22/19^(c)		4,000		3,995,038
2.42%, 11/15/19^(c)		12,200		12,189,478
Toronto-Dominion Bank (The), 2.10%, 06/12/20, (1 mo. LIBOR US + 0.180%)^(a)		5,000		4,998,823
TransCanada PipeLines Ltd. 2.18%, 01/08/20^(c)		5,050		5,029,683
2.23%, 12/06/19^(c)		5,000		4,989,850
UBS AG/London 2.21%, 07/10/20 (Call 04/14/20), (3 mo. LIBOR US + 0.200%)^(a)		5,000		5,000,326
2.32%, 04/24/20 (Call 01/27/20)^(c)		4,000		3,962,786
2.48%, 12/19/19, (3 mo. LIBOR US + 0.320%)^(a)		3,000		3,001,027
VW CR Inc. 2.20%, 01/13/20^(c)		4,250		4,231,619
2.31%, 11/19/19^(c)		5,000		4,994,609
2.32%, 01/06/20^(c)		3,231		3,218,390
VW Credit Inc. 2.03%, 12/04/19^(c)		3,700		3,692,906
2.50%, 01/14/20^(c)		4,000		3,982,458
2.50%, 04/01/20^(c)		3,000		2,972,919
Walgreens Boots Alliance Inc. 2.04%, 11/04/19^(c)		6,000		5,998,638
2.28%, 03/27/20^(c)		8,000		7,930,276
2.43%, 02/03/20^(c)		6,000		5,966,433
2.48%, 01/24/20^(c)		4,250		4,228,777
Welltower Inc., 2.19%, 11/12/19^(c)		5,000		4,996,562
Westpac Banking Corp., 2.43%, 11/01/19, (3 mo. LIBOR US + 0.180%)^(a)		2,000		2,000,000


Total Commercial Paper — 24.9% (Cost: $545,762,168)				545,964,962


Corporate Bonds & Notes

Aerospace & Defense — 1.3%
General Dynamics Corp., 2.88%, 05/11/20		2,000		2,010,020


Security	Par (000)		Value

Aerospace & Defense (continued)
Lockheed Martin Corp., 4.25%, 11/15/19	$	2,000	$	2,001,381
Raytheon Co., 3.13%, 10/15/20		4,600		4,655,752
United Technologies Corp. 1.90%, 05/04/20		12,494		12,498,476
2.60%, 11/01/19, (3 mo. LIBOR US + 0.350%)^(a)		500		500,000
2.82%, 08/16/21 (Call 11/18/19), (3 mo. LIBOR US + 0.650%)^(a)		6,000		6,001,158
3.35%, 08/16/21		540		554,162

				28,220,949

Auto Manufacturers — 5.5%
American Honda Finance Corp. 2.00%, 11/13/19		500		499,998
2.20%, 06/27/22		10,100		10,211,099
2.30%, 02/21/20, (3 mo. LIBOR US + 0.150%)^(a)		2,000		2,000,878
2.38%, 06/16/20, (3 mo. LIBOR US + 0.260%)^(a)		4,000		4,005,486
2.39%, 02/12/21, (3 mo. LIBOR US + 0.210%)^(a)		1,000		999,764
2.49%, 06/11/21, (3 mo. LIBOR US + 0.350%)^(a)		4,120		4,129,823
BMW U.S. Capital LLC 1.85%, 09/15/21 (Call 08/15/21)^(d)		10,000		9,983,132
2.41%, 04/12/21, (3 mo. LIBOR US + 0.410%)^(a)(d)		2,000		2,003,100
2.42%, 04/06/20, (3 mo. LIBOR US + 0.380%)^(a)(d)		5,000		5,006,022
2.68%, 08/13/21, (3 mo. LIBOR US + 0.500%)^(a)(d)		5,000		5,009,409
3.25%, 08/14/20^(d)		1,850		1,871,184
Daimler Finance North America LLC 2.30%, 01/06/20^(d)		4,000		4,002,120
2.30%, 02/12/21^(d)		1,535		1,540,540
2.60%, 02/22/21, (3 mo. LIBOR US + 0.450%)^(a)(d)		3,000		3,000,600
3.10%, 05/04/20^(d)		9,325		9,373,817
3.40%, 02/22/22^(d)		5,000		5,129,689
Harley-Davidson Financial Services Inc. 2.15%, 02/26/20 (Call 01/26/20)^(d)		8,000		7,994,469
2.65%, 05/21/20, (3 mo. LIBOR US + 0.500%)^(a)(d)		2,000		2,001,192
Hyundai Capital America 2.55%, 04/03/20^(d)		3,304		3,309,398
2.85%, 11/01/22^(d)		3,440		3,464,819
2.95%, 03/12/21, (3 mo. LIBOR US + 0.820%)^(a)(d)		1,000		1,001,250
3.45%, 03/12/21^(d)		2,200		2,233,000
Nissan Motor Acceptance Corp.
2.49%, 09/28/20, (3 mo. LIBOR US + 0.390%)^(a)(d)		750		750,294
2.58%, 01/13/20, (3 mo. LIBOR US + 0.580%)^(a)(d)		1,955		1,956,525
PACCAR Financial Corp. 2.05%, 11/13/20		580		581,607
2.44%, 05/10/21, (3 mo. LIBOR US + 0.260%)^(a)		680		680,100
2.59%, 06/17/22, (3 mo. LIBOR US + 0.450%)^(a)		10,000		10,012,631
3.10%, 05/10/21		915		933,595
Toyota Motor Credit Corp. 2.20%, 01/10/20		1,500		1,500,870
2.50%, 03/12/20, (3 mo. LIBOR US + 0.370%)^(a)		1,500		1,502,077
3.05%, 01/08/21		2,435		2,472,393
Volkswagen Group of America Finance LLC 2.50%, 09/24/21^(d)		430		432,891
2.97%, 09/24/21, (3 mo. LIBOR US + 0.860%)^(a)(d)		3,870		3,889,839
3.88%, 11/13/20^(d)		7,000		7,127,151

				120,610,762

Auto Parts & Equipment — 0.0%
Toyota Industries Corp., 3.11%, 03/12/22 (Call 02/12/22)^(d)		1,000		1,021,903


Banks — 27.4%
ABN AMRO Bank NV 2.45%, 06/04/20^(d)		5,000		5,012,120


Security	Par (000)		Value

Banks (continued)
2.65%, 01/19/21^(d)	$	8,955	$	9,015,898
2.70%, 08/27/21, (3 mo. LIBOR US + 0.570%)^(a)(d)		3,000		3,011,076
3.40%, 08/27/21^(d)		2,500		2,558,920
ANZ New Zealand Int’l Ltd./London 2.20%, 07/17/20^(d)		1,351		1,353,915
2.75%, 01/22/21^(d)		4,000		4,035,760
2.94%, 07/28/21, (3 mo. LIBOR US + 1.010%)^(a)(d)		4,000		4,043,686
Australia & New Zealand Banking Group Ltd.
2.50%, 11/09/20, (3 mo. LIBOR US + 0.320%)^(a)(d)		1,000		1,001,746
4.88%, 01/12/21^(d)		4,000		4,138,991
Australia & New Zealand Banking Group Ltd./New York NY, 2.25%, 11/09/20		4,500		4,520,798
Bank of America Corp. 2.63%, 10/19/20		6,000		6,040,168
5.88%, 01/05/21		3,000		3,137,573
Bank of America N.A.
2.40%, 06/21/21 (Call 06/21/20), (SOFRRATE + 0.550%)^(a)		7,000		7,000,379
2.48%, 05/24/21 (Call 04/24/21), (3 mo. LIBOR US + 0.350%)^(a)		5,000		5,004,764
Bank of Montreal, 2.73%, 12/12/19, (3 mo. LIBOR US + 0.600%)^(a)		510		510,413
Bank of New York Mellon (The), 2.41%, 06/04/21 (Call 06/04/20), (3 mo. LIBOR US + 0.280%)^(a)		12,000		12,015,960
Bank of Nova Scotia (The) 2.32%, 01/08/21, (3 mo. LIBOR US + 0.290%)^(a)		1,000		1,001,817
2.35%, 10/21/20		6,000		6,028,819
2.41%, 04/20/21, (3 mo. LIBOR US + 0.440%)^(a)		2,000		2,006,444
Banque Federative du Credit Mutuel SA 2.20%, 07/20/20^(d)		14,385		14,409,381
2.75%, 10/15/20^(d)		3,000		3,025,268
BB&T Corp., 2.15%, 02/01/21 (Call 01/01/21)		6,172		6,193,136
BNP Paribas SA, 2.38%, 05/21/20		4,900		4,912,935
BNZ International Funding Ltd./London, 2.90%, 02/21/22^(d)		3,700		3,760,708
BPCE SA 2.25%, 01/27/20		7,550		7,548,220
2.65%, 02/03/21		1,200		1,208,506
2.75%, 12/02/21		11,945		12,112,995
3.15%, 07/31/20^(d)		3,000		3,027,768
Branch Banking & Trust Co. 2.10%, 01/15/20 (Call 12/15/19)		15,000		15,002,250
2.25%, 06/01/20 (Call 05/01/20)		7,600		7,611,174
Capital One N.A. 2.15%, 09/06/22 (Call 05/06/22)		4,550		4,548,413
2.35%, 01/31/20 (Call 12/31/19)		7,239		7,243,138
2.95%, 07/23/21 (Call 06/23/21)		4,500		4,569,074
Citibank N.A. 2.10%, 06/12/20 (Call 05/12/20)		3,000		3,004,138
2.42%, 03/13/21 (Call 03/13/20), (SOFRRATE + 0.600%)^(a)		5,590		5,592,650
2.50%, 07/23/21 (Call 06/23/21), (3 mo. LIBOR US + 0.570%)^(a)		2,000		2,007,804
2.53%, 02/12/21 (Call 01/12/21), (3 mo. LIBOR US + 0.350%)^(a)		1,000		1,001,485
2.85%, 02/12/21 (Call 01/12/21)		6,300		6,373,274
3.05%, 05/01/20 (Call 04/01/20)		3,000		3,013,376
3.17%, 02/19/22 (Call 02/19/21)^(b)		2,000		2,029,856
Citigroup Inc. 2.31%, 11/04/22 (Call 11/04/21)^(b)		5,000		5,014,400


Security	Par (000)		Value

Banks (continued)
2.68%, 11/04/22 (Call 11/04/21), (SOFRRATE + 0.870%)^(a)	$	5,000	$	5,011,300
Citizens Bank N.A./Providence RI, 2.25%, 03/02/20 (Call 02/03/20)		2,500		2,501,557
Commonwealth Bank of Australia 1.75%, 11/07/19^(d)		1,591		1,590,987
2.20%, 11/09/20^(d)		4,000		4,013,976
2.58%, 03/10/20, (3 mo. LIBOR US + 0.450%)^(a)(d)		1,615		1,617,495
Commonwealth Bank of Australia/New York NY, 2.55%, 03/15/21		11,575		11,695,203
Cooperatieve Rabobank UA, 4.75%, 01/15/20^(d)		2,167		2,178,879
Cooperatieve Rabobank UA/NY 2.25%, 01/14/20		8,500		8,505,185
2.37%, 04/26/21, (3 mo. LIBOR US + 0.430%)^(a)		1,000		1,003,044
2.50%, 01/19/21		4,080		4,110,869
Credit Agricole Corporate and Investment Bank/New York, 2.60%, 01/14/21, (3 mo. LIBOR US + 0.600%)^(a)		2,000		2,007,992
Credit Agricole SA/London, 3.28%, 07/01/21, (3 mo. LIBOR US + 1.180%)^(a)(d)		4,000		4,055,407
Credit Suisse AG/New York NY, 4.38%, 08/05/20		5,020		5,115,070
DBS Group Holdings Ltd., 2.85%, 04/16/22^(d)		3,267		3,318,003
DNB Bank ASA, 2.38%, 06/02/21^(d)		4,450		4,480,740
Fifth Third Bank/Cincinnati OH, 2.19%, 10/30/20 (Call 09/30/20), (3 mo. LIBOR US + 0.250%)^(a)		1,000		1,000,890
Goldman Sachs Bank USA/New York NY 2.59%, 05/24/21 (Call 05/24/20), (SOFRRATE + 0.600%)^(a)		4,915		4,919,968
3.20%, 06/05/20		445		448,454
Goldman Sachs Group Inc. (The) 2.60%, 04/23/20 (Call 03/23/20)		12,000		12,033,650
2.60%, 12/27/20 (Call 12/27/19)		5,300		5,305,109
HSBC Holdings PLC 2.72%, 05/18/21 (Call 05/18/20), (3 mo. LIBOR US + 0.600%)^(a)		7,563		7,571,924
2.78%, 09/11/21 (Call 09/11/20), (3 mo. LIBOR US + 0.650%)^(a)		4,000		4,008,911
3.40%, 03/08/21		5,000		5,086,446
HSBC USA Inc. 2.35%, 03/05/20		4,000		4,004,178
2.38%, 11/13/19		1,120		1,120,103
ING Bank NV 2.05%, 08/15/21^(d)		5,865		5,878,390
2.45%, 03/16/20^(d)		12,000		12,023,111
JPMorgan Chase & Co., 2.25%, 01/23/20 (Call 12/23/19)		8,500		8,503,740
JPMorgan Chase Bank N.A. 2.43%, 02/19/21 (Call 02/19/20), (SOFRRATE + 0.61%)^(a)		2,500		2,501,168
2.49%, 02/19/21 (Call 02/19/20), (3 mo. LIBOR US + 0.370%)^(a)		5,000		5,003,078
2.60%, 02/01/21 (Call 02/01/20)^(b)		3,000		3,004,032
KeyBank N.A./Cleveland OH, 3.30%, 02/01/22		2,115		2,178,656
Lloyds Bank PLC 2.70%, 08/17/20		7,829		7,876,154
3.30%, 05/07/21		3,000		3,054,231
6.38%, 01/21/21		3,500		3,683,710
Macquarie Bank Ltd., 2.40%, 01/21/20^(d)		3,850		3,853,196
Mitsubishi UFJ Trust & Banking Corp., 2.65%, 10/19/20^(d)		3,500		3,525,938
Mizuho Bank Ltd. 2.40%, 03/26/20^(d)		3,000		3,005,173
2.70%, 10/20/20^(d)		3,700		3,729,606


Security	Par (000)		Value

Banks (continued)
Morgan Stanley 2.50%, 04/21/21	$	3,000	$	3,021,820
2.65%, 01/27/20		5,000		5,008,350
2.73%, 02/10/21 (Call 02/10/20), (3 mo. LIBOR US + 0.550%)^(a)		7,000		7,006,337
2.75%, 06/10/22 (Call 06/10/21), (SOFRRATE + 0.830%)^(a)		5,000		5,011,197
2.80%, 06/16/20		5,000		5,024,361
3.37%, 04/21/21, (3 mo. LIBOR US + 1.400%)^(a)		2,000		2,032,120
MUFG Bank Ltd., 2.85%, 09/08/21^(d)		1,400		1,423,345
MUFG Union Bank N.A., 3.15%, 04/01/22 (Call 03/01/22)		4,000		4,111,492
National Australia Bank Ltd. 2.35%, 01/12/21, (3 mo. LIBOR US + 0.350%)^(a)(d)		2,000		2,004,710
2.60%, 01/10/20, (3 mo. LIBOR US + 0.590%)^(a)(d)		1,200		1,201,357
National Australia Bank Ltd./New York 1.88%, 07/12/21		5,000		4,999,978
2.13%, 05/22/20		5,000		5,006,686
2.50%, 01/12/21		1,000		1,006,230
2.63%, 07/23/20		3,000		3,017,127
3.70%, 11/04/21		3,035		3,135,913
National Bank of Canada, 2.20%, 11/02/20 (Call 10/02/20)		2,000		2,006,481
Nordea Bank Abp 2.13%, 05/29/20^(d)		4,450		4,454,833
2.25%, 05/27/21^(d)		4,000		4,021,620
2.50%, 09/17/20^(d)		4,000		4,023,464
2.59%, 05/29/20, (3 mo. LIBOR US + 0.470%)^(a)(d)		2,000		2,004,632
Royal Bank of Canada, 2.25%, 07/22/20, (3 mo. LIBOR US + 0.300%)^(a)		2,000		2,004,589
Santander UK PLC 2.13%, 11/03/20		13,024		13,047,119
2.38%, 03/16/20		2,000		2,002,495
2.59%, 11/03/20, (3 mo. LIBOR US + 0.300%)^(a)		500		500,045
Skandinaviska Enskilda Banken AB 2.30%, 03/11/20		4,640		4,644,309
2.45%, 05/27/20^(d)		3,000		3,007,212
2.55%, 05/17/21, (3 mo. LIBOR US + 0.430%)^(a)(d)		4,000		4,011,040
2.86%, 12/01/20, (3 mo. LIBOR US + 0.720%)^(a)(d)		5,000		5,028,150
3.05%, 03/25/22^(d)		3,000		3,062,826
Societe Generale SA 2.50%, 04/08/21^(d)		5,460		5,488,010
2.63%, 09/16/20^(d)		2,000		2,012,890
5.20%, 04/15/21^(d)		3,571		3,729,203
Sumitomo Mitsui Banking Corp. 2.35%, 01/17/20, (3 mo. LIBOR US + 0.350%)^(a)		1,000		1,000,933
2.51%, 01/17/20		2,498		2,500,745
Sumitomo Mitsui Banking Corp./New York, 2.41%, 04/06/21, (3 mo. LIBOR US + 0.355%)^(a)		5,000		5,003,127
Suncorp-Metway Ltd. 2.35%, 04/27/20^(d)		2,000		2,000,832
2.38%, 11/09/20^(d)		1,250		1,256,114
2.47%, 10/19/20, (3 mo. LIBOR US + 0.500%)^(a)(d)		7,000		6,999,981
Svenska Handelsbanken AB 2.40%, 10/01/20		3,000		3,017,808
2.46%, 09/08/20, (3 mo. LIBOR US + 0.360%)^(a)		745		746,527
Toronto-Dominion Bank (The), 3.00%, 06/11/20		1,000		1,006,943
UBS AG/London 2.20%, 06/08/20 (Call 05/08/20)^(d)		2,300		2,302,698
2.45%, 12/01/20 (Call 11/01/20)^(d)		14,200		14,256,516
UBS AG/Stamford CT 2.35%, 03/26/20		2,500		2,504,500


Security	Par (000)		Value

Banks (continued)
4.88%, 08/04/20	$	1,000	$	1,022,604
United Overseas Bank Ltd., 2.41%, 04/23/21, (3 mo. LIBOR US + 0.480%)^(a)(d)		2,000		2,002,513
Wells Fargo & Co. 2.60%, 07/22/20		1,000		1,005,028
3.47%, 03/04/21, (3 mo. LIBOR US + 1.340%)^(a)		5,000		5,069,100
Series N, 2.15%, 01/30/20		3,462		3,464,178
Wells Fargo Bank N.A. 2.31%, 01/15/21, (3 mo. LIBOR US + 0.310%)^(a)		2,000		2,004,764
2.43%, 07/23/21 (Call 07/23/20), (3 mo. LIBOR US + 0.500%)^(a)		5,000		5,007,861
2.46%, 10/22/21 (Call 09/21/21), (3 mo. LIBOR US + 0.510%)^(a)		2,000		2,007,318
2.53%, 05/21/21 (Call 05/21/20), (3 mo. LIBOR US + 0.380%)^(a)		5,000		5,002,971
2.80%, 09/09/22 (Call 09/09/21), (3 mo. LIBOR US + 0.660%)^(a)		15,000		15,054,284
3.33%, 07/23/21 (Call 07/23/20)^(b)		2,000		2,018,166
Westpac Banking Corp. 2.54%, 03/06/20, (3 mo. LIBOR US + 0.430%)^(a)		3,000		3,004,229
2.60%, 11/23/20		9,001		9,072,883
3.05%, 05/15/20		5,000		5,031,523

				600,598,806

Biotechnology — 0.8%
Gilead Sciences Inc., 2.55%, 09/01/20		18,000		18,098,867


Chemicals — 0.1%
Air Liquide Finance SA, 1.75%, 09/27/21 (Call 08/27/21)^(d)		3,000		2,988,334


Computers — 0.7%
Apple Inc., 1.80%, 11/13/19		1,500		1,500,036
International Business Machines Corp., 2.58%, 05/13/21, (3 mo. LIBOR US + 0.400%)^(a)		14,000		14,064,302

				15,564,338

Diversified Financial Services — 0.5%
American Express Co., 2.20%, 10/30/20 (Call 09/29/20)		5,661		5,677,388
American Express Credit Corp. 2.57%, 03/03/20 (Call 02/03/20), (3 mo. LIBOR US + 0.430%)^(a)		3,000		3,003,503
2.86%, 05/26/20 (Call 04/25/20), (3 mo. LIBOR US + 0.730%)^(a)		2,906		2,915,618

				11,596,509

Electric — 1.3%
Electricite de France SA, 2.35%, 10/13/20 (Call 09/13/20)^(d).		12,100		12,142,364
NextEra Energy Capital Holdings Inc. 2.40%, 09/01/21		5,925		5,970,224
2.55%, 09/28/20, (3 mo. LIBOR US + 0.450%)^(a)		6,500		6,507,774
2.90%, 04/01/22		2,260		2,306,950
Series H, 3.34%, 09/01/20		1,795		1,814,014

				28,741,326

Health Care - Services — 0.2%
UnitedHealth Group Inc., 1.95%, 10/15/20		5,000		5,008,602


Household Products & Wares — 0.4%
Church & Dwight Co. Inc., 2.45%, 12/15/19 (Call 11/15/19)		9,500		9,500,264


Insurance — 0.2%
Jackson National Life Global Funding, 2.30%, 10/15/20, (3 mo. LIBOR US + 0.300%)^(a)(d)		5,000		5,007,387


Security	Par (000)		Value

Internet — 1.0%
Alibaba Group Holding Ltd., 2.50%, 11/28/19	$	1,750	$	1,750,000
Tencent Holdings Ltd., 2.88%, 02/11/20^(d)		19,355		19,375,565

				21,125,565

Machinery — 1.3%
Caterpillar Financial Services Corp. 2.35%, 03/15/21, (3 mo. LIBOR US + 0.230%)^(a)		1,000		1,000,844
2.38%, 08/26/20, (3 mo. LIBOR US + 0.250%)^(a)		9,000		9,013,199
2.41%, 03/08/21, (3 mo. LIBOR US + 0.300%)^(a)		7,000		7,005,881
2.90%, 03/15/21		1,500		1,519,607
Series I, 2.65%, 05/17/21		3,810		3,856,315
John Deere Capital Corp. 2.18%, 10/09/20, (3 mo. LIBOR US + 0.170%)^(a)		3,000		3,002,759
2.37%, 03/12/21, (3 mo. LIBOR US + 0.240%)^(a)		1,000		1,000,904
2.43%, 07/10/20, (3 mo. LIBOR US + 0.420%)^(a)		3,000		3,007,129

				29,406,638

Manufacturing — 0.3%
3M Co., 3.00%, 09/14/21 (Call 08/14/21)		1,075		1,096,610
Siemens Financieringsmaatschappij NV 2.15%, 05/27/20^(d)		3,000		3,006,420
2.46%, 03/16/20, (3 mo. LIBOR US + 0.340%)^(a)(d)		3,000		3,004,859

				7,107,889

Media — 0.6%
Comcast Corp. 2.43%, 10/01/20, (3 mo. LIBOR US + 0.330%)^(a)		2,000		2,005,020
3.30%, 10/01/20		1,610		1,631,611
NBCUniversal Enterprise Inc., 2.50%, 04/01/21, (3 mo. LIBOR US + 0.400%)^(a)(d)		5,000		5,016,800
Walt Disney Co. (The), 2.36%, 09/01/21, (3 mo. LIBOR US + 0.250%)^(a)		4,320		4,332,010

				12,985,441

Oil & Gas — 0.5%
BP Capital Markets PLC, 2.38%, 11/24/20, (3 mo. LIBOR US + 0.250%)^(a)		10,000		10,018,403


Pharmaceuticals — 0.1%
Pfizer Inc., 3.00%, 09/15/21		1,670		1,709,453


Pipelines — 0.6%
Enbridge Inc., 2.41%, 01/10/20, (3 mo. LIBOR US + 0.400%)^(a)		2,875		2,876,552
Enterprise Products Operating LLC, 2.85%, 04/15/21 (Call 03/15/21)		5,716		5,786,796
TransCanada PipeLines Ltd. 2.43%, 11/15/19, (3 mo. LIBOR US + 0.275%)^(a)		1,500		1,500,080
3.80%, 10/01/20		1,886		1,916,940

				12,080,368

Retail — 0.7%
Walgreens Boots Alliance Inc., 2.70%, 11/18/19		15,348		15,351,259


Semiconductors — 0.9%
Lam Research Corp. 2.75%, 03/15/20 (Call 02/15/20)		9,000		9,017,732
2.80%, 06/15/21 (Call 05/15/21)		9,905		10,047,506

				19,065,238

Telecommunications — 1.3%
BellSouth LLC, 4.27%, 04/26/21 (Call 04/26/20)^(d)		5,000		5,004,600
Verizon Communications Inc., 2.70%, 05/22/20, (3 mo. LIBOR US + 0.550%)^(a)		23,000		23,063,384

				28,067,984


Security	Par (000)		Value

Transportation — 0.7%
Ryder System Inc. 2.25%, 09/01/21 (Call 08/01/21)	$	4,186	$	4,197,831
2.50%, 05/11/20 (Call 04/11/20)		5,500		5,511,307
2.88%, 06/01/22 (Call 05/01/22)		4,899		4,987,250

				14,696,388


Total Corporate Bonds & Notes — 46.4% (Cost: $1,014,251,201)				1,018,572,673


Repurchase Agreements
Bank of America Securities Inc., 2.20%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $17,001,039, collateralized by non-agency mortgage-backed security, 3.17% to 8.02%, due 07/25/24 to 04/25/30, par and fair value of $22,272,095 and $20,400,000, respectively)^(a)(e)		17,000		17,000,000
Bank of America Securities Inc., 2.50%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $7,000,486, collateralized by non-agency mortgage-backed security, 6.50%, due 07/27/37, par and fair value of $23,172,791 and $8,050,000, respectively)^(a)(e)		7,000		7,000,000
Barclays Bank PLC, 2.13%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $10,000,592, collateralized by non-agency mortgage-backed security, 0.00%, due 12/25/79, par and fair value of $11,500,001 and $11,500,001, respectively)^(a)(e)		10,000		10,000,000
Barclays Bank PLC, 2.22%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $10,000,617, collateralized by non-agency mortgage-backed security, 0.00%, due 12/25/79, par and fair value of $11,500,001 and $11,500,001, respectively) ^(a)(e)		10,000		10,000,000
Barclays Bank PLC, 2.30%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $6,000,383, collateralized by non-agency mortgage-backed security, 2.07% to 11.49%, due 07/16/31 to 06/15/37, par and fair value of $11,168,998 and $6,900,000, respectively)^(a)(e)		6,000		6,000,000
Barclays Bank PLC, 2.40%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $16,001,067, collateralized by non-agency mortgage-backed security, 0.00%, due 12/25/79, par and fair value of $20,335,447 and $18,400,001, respectively)^(a)(e)		16,000		16,000,000
Citigroup Global Markets Inc., 2.21%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $8,000,492, collateralized by non-agency mortgage-backed security, 1.30% to 4.75%, due 11/12/32 to 10/28/64, par and fair value of $11,347,066 and $9,197,534, respectively)^(a)(e)		8,000		8,000,000
Citigroup Global Markets Inc., 2.28%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $12,000,759, collateralized by non-agency mortgage-backed security, 0.00% to 4.75%, due 11/12/32 to 10/28/64, par and fair value of $25,397,599 and $12,995,284, respectively)^(a)(e)		12,000		12,000,000
Credit Suisse Securities (USA) LLC, 2.23%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $5,000,310, collateralized by non-agency mortgage-backed security, 5.02%, due 08/01/57, par and fair value of $11,254,902 and $5,750,000, respectively)^(a)(e)		5,000		5,000,000


Security	Par (000)		Value
Credit Suisse Securities (USA) LLC, 2.36%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $15,000,985, collateralized by non-agency mortgage-backed security, 4.63% to 6.75%, due 02/01/24 to 12/08/46, par and fair value of $14,487,721 and $15,768,499, respectively)^(a)(e)	$	15,000	$	15,000,000
JP Morgan Securities, 2.10%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $15,000,875, collateralized by non-agency mortgage-backed security, 3.08% to 8.13%, due 02/15/21 to 12/31/49, par and fair value of $15,845,972 and $16,276,600, respectively)^(a)(e)		15,000		15,000,000
JP Morgan Securities, 2.30%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $7,000,448, collateralized by non-agency mortgage-backed security, 0.00%, due 03/22/32, par and fair value of $7,490,001 and $7,490,001, respectively)^(a)(e)		7,000		7,000,000
JP Morgan Securities, 2.46%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $7,000,478, collateralized by non-agency mortgage-backed security, 4.75% to 10.00%, due 05/15/22 to 12/31/49, par and fair value of $9,859,128 and $7,902,619, respectively)^(a)(e)		7,000		7,000,000
Mizuho Securities USA Inc., 2.34%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $6,000,389, collateralized by non-agency mortgage-backed security, 3.53%, due 05/01/24, par and fair value of $6,900,001 and $6,879,828, respectively)^(a)(e)		6,000		6,000,000
Wells Fargo Securities, 2.30%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $15,000,958, collateralized by non-agency mortgage-backed security, 0.00%, due 12/03/19, par and fair value of $15,829,146 and $15,750,000, respectively)^(a)(e)		15,000		15,000,000
Wells Fargo Securities, 2.35%, 11/01/19 (Purchased on 10/31/19 to be repurchased at $7,000,457, collateralized by non-agency mortgage-backed security, 0.00%, due 12/03/19, par and fair value of $7,386,935 and $7,350,000, respectively)^(a)(e)		7,000		7,000,000


Total Repurchase Agreements — 7.4% (Cost: $163,000,000)				163,000,000


Total Investments in Securities — 100.5% (Cost: $2,202,273,105)				2,207,310,452

Other Assets, Less Liabilities — (0.5)%				(11,919,304	)


Net Assets — 100.0%			$	2,195,391,148

^(a)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

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

^(d)	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.

^(e)	Maturity date represents next reset date.

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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 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.

Foreign CurrencyTranslation: The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in non-U.S. currencies are translated to U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.

Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments. Such fluctuations are reflected by the Funds as a component of net realized and unrealized gain (loss) from investments for financial reporting purposes. Each Fund reports realized currency gain (loss) 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, 2019, if any, are disclosed in the statement of assets and liabilities.

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 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.

Recent Accounting Standards: In March 2017, the Financial Accounting Standards Board issued Accounting Standards Update “Premium Amortization on Purchase Callable Debt Securities” which amends the amortization period for certain purchased callable debt securities. Under the new guidance, premium amortization of purchased callable debt securities that have explicit, non-contingent call features and are callable at fixed prices will be amortized to the earliest call date. The guidance will be applied on a modified retrospective basis and is effective for fiscal years, and their interim periods, beginning after December 15, 2018. Management continues to evaluate the impact of this guidance to 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 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.

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

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of 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.

TBA Commitments: A fund may purchase mortgage pass-through securities on a when-issued or to-be-announced (“TBA”) basis, with payment and delivery scheduled for a future date. The underlying mortgage pools to be delivered are not identified at the trade date. However, delivered securities must meet specified terms, including issuer, rate and mortgage terms. A fund could be exposed to possible risk if there are adverse market actions, expenses or delays in connection with the TBA transactions, or if the counterparty fails to complete the transaction.

TBA Roll Transactions: A fund may enter into a TBA agreement, sell the obligation to purchase the pools stipulated in the TBA agreement prior to the stipulated settlement date and enter into a new TBA agreement for future delivery of pools of mortgage pass-through securities (a “TBA roll”). TBA rolls are treated as purchase and sale transactions in which the fund realizes gains and losses. A fund’s use of TBA rolls may cause the fund to experience higher portfolio turnover and higher transactions costs. TBA rolls involve the risk that the market value of the securities that a fund is required to purchase may decline below the agreed upon purchase price of 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. Pursuant to the custodial undertaking associated with a tri-party repurchase arrangement, an unaffiliated 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, 2019 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, 2019, 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, 2019 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.

The following table is a summary of the securities lending agreements by counterparty which are subject to offset under an MSLA as of October 31, 2019:

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: The iShares Short Maturity Bond ETF uses forward foreign currency exchange contracts to hedge the currency exposure of non-U.S. dollar-denominated securities held in its portfolio. A forward foreign currency exchange contract is an agreement between two parties to buy and sell a currency against another currency at an agreed upon price and quantity. 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 (“NDFs”) 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. 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.

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 Funds, 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 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.

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.

Prior to January 1, 2019, each Fund retained 80% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 the iShares ETF Complex in a calendar year exceeded a specified threshold, each Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could 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, 2019, 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, 2019, 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, 2019, 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 October 31, 2019, 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 October 31, 2019, the following permanent differences attributable to the use of equalization, were reclassified to the following accounts:

As of October 31, 2019, the tax components of accumulated net earnings (losses) were as follows:

For the year ended October 31, 2019, the Funds utilized the following amounts of their capital loss carryforwards as follows:

As of October 31, 2019, 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.

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. 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.

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.

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.

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.

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.

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. Plaintiffs have appealed the court’s decision. The appeal was fully briefed on January 18, 2019, and a hearing on Plaintiffs’ appeal took place on November 19, 2019.

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 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, 2019, the related statements of operations for the year ended October 31, 2019, the statements of changes in net assets for each of the two years in the period ended October 31, 2019, 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, 2019, 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, 2019 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.

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, 2019 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, 2019, 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, 2019:

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, 2019:

The following distribution amounts are hereby designated for the fiscal year ended October 31, 2019:

I. iShares Short Maturity Bond ETF, iShares Short Maturity Municipal Bond ETF and iShares Ultra Short-Term Bond ETF (the “Funds”)

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 Trustees who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Trustees”), is required annually to consider and approve the Investment Advisory Contract between the Trust and BFA (the “Advisory Contract”) on behalf of the Funds. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Trustees) assess BlackRock’s services to the Funds, including investment management; fund accounting; administrative and shareholder services; oversight of the Funds’ service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Trustees requested, and BFA provided, such information as the Independent Trustees, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Contract. At meetings on May 6, 2019 and May 17, 2019, a committee composed of all of the Independent Trustees (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 their independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 17-19, 2019, the Board, including the Independent Trustees, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Trustees, approved the continuance of the Advisory Contract for the Funds, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Trustees. 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 Trustees were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Contract for the Funds, the Board, including the Independent Trustees, considered various factors, including: (i) the expenses and performance of each Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to each Fund and profits realized by BFA and its affiliates; (iv) economies of scale; (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, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Trustees, to approve the Advisory Contract are discussed below.

Expenses and Performance of the Funds: 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 each Fund invests (if applicable), and waivers/reimbursements (if applicable) of each 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 each 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 applicable Peer Groups. The Board further noted that due to the limitations in providing comparable funds in the various Peer Groups, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Funds in all instances.

The Board also noted that the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) for the Funds were lower than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in their respective Peer Group, excluding iShares funds. In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as any particular Fund, Broadridge also provided, and the Board reviewed, a comparison of such Fund’s performance for the one-, three-, five-, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2018, to that of relevant comparison fund(s) for the same periods. The Board noted that each Fund is an actively managed ETF that does not seek to track the performance of a specified index and that the management team for each Fund manages its portfolio in accordance with its investment objective. The Board further noted that, during the year, the Board received periodic reports on each 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 each Fund generally performed in line with expectations relative to its respective 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 each Fund supported the Board’s approval of the continuance of the Advisory Contract for the coming year.

Nature, Extent and Quality of Services Provided by BFA: 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 to 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 Funds. 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 Funds, as well as the resources available to them in managing the Funds. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies provided at the June 17-19, 2019 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 Funds under the Advisory Contract supported the Board’s approval of the continuance of the Advisory Contract for the coming year.

Costs of Services Provided to the Funds and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Funds, 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 Funds’ 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 during their meetings. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers by the Adviser, 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 the sources of direct and ancillary revenue with management, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Funds. The Board also discussed BFA’s estimated profit margin as reflected in the Funds’ 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 Funds 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 Funds 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, noting that such costs have increased over the past year. 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 Funds did not provide for breakpoints in the Funds’ investment advisory fee rate as the assets of the Funds 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 do manage Other Accounts with similar investment strategies or investment mandates as the Funds. The Board further noted that BFA provided the Board with detailed information regarding how the Other Accounts generally differ from the Funds, including in terms of the types of services and generally more extensive services provided to the Funds, 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 Funds, as a publicly traded ETFs, 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 Funds’ advisory fee structure, and the Funds’ expenses borne by BFA under this arrangement. The Board noted that the investment advisory fee rates under the Advisory Contract for the Funds 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 Funds by BFA, both direct and indirect, such as payment of revenue to BTC, the Funds’ 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 Funds in other funds for which BFA (or its affiliates) provides investment advisory services or other services and BlackRock’s increased 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 Funds. The Board further noted that any portfolio transactions on behalf of the Funds 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 Funds 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 Trustees, determined that the Funds’ investment advisory fee rates under the Advisory Contract do not constitute fees that are 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.

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.

The Premium/Discount Information section is intended to present information about the differences between the daily market price on secondary markets for shares of a fund and that fund’s NAV. NAV is the price at which a fund issues and redeems shares. It is calculated in accordance with the standard formula for valuing mutual fund shares. The “Market Price” of a fund generally is determined using the midpoint between the highest bid and the lowest ask on the primary securities exchange on which shares of such fund are listed for trading, as of the time that the fund’s NAV is calculated. A fund’s Market Price may be at, above or below its NAV. The NAV of a fund will fluctuate with changes in the value of its portfolio holdings. The Market Price of a fund will fluctuate in accordance with changes in its NAV, as well as market supply and demand.

Premiums or discounts are the differences (expressed as a percentage) between the NAV and Market Price of a fund on a given day, generally at the time the NAV is calculated. A premium is the amount that a fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that a fund is trading below the reported NAV, expressed as a percentage of the NAV.

Premium/discount information for the Funds covering the most recently completed calendar year and the most recently completed calendar quarters since that year (or since the Fund began trading, if shorter) is publicly accessible, free of charge, at iShares.com.

The following information shows the frequency of distributions of premiums and discounts for the Funds for the immediately preceding five calendar years (or from the date a Fund began trading on the secondary market, if less than five years) through the date of the most recent calendar quarter-end. Each line in each table shows the number of trading days in which the Fund traded within the premium/discount range indicated. Premium/discount ranges with no trading days are omitted. The number of trading days in each premium/discount range is also shown as a percentage of the total number of trading days in the period covered by each table. All data presented here represents past performance, which cannot be used to predict future results.

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 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 352 funds as of October 31, 2019. With the exception of Robert S. Kapito, Salim Ramji, Charles Park and Neal J. Andrews, 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, Mr. Park and Mr. Andrews 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, and for reporting periods ended prior to March 31, 2019, filed such information on Form N-Q. The iShares Funds’ Forms N-Q 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.

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

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

The iShares 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 positive return for the reporting period, despite the negative impact of its inflation hedge. Investment-grade corporate bonds advanced significantly amid strong demand from investors seeking higher yields than those available from government securities, with relatively low risk.

On an unhedged basis, financial bonds were the largest contributors to the Fund’s return. Bonds issued by banks advanced, as strong balance sheets gave investors confidence that banks would be relatively resilient in the case of an economic downturn. Issuance of new bonds was relatively low, which helped to reduce yields, as supply was insufficient to meet investor demand for top-rated debt.

Consumer non-cyclical companies were also significant contributors to the Fund’s performance, particularly in the pharmaceuticals, food products, and beverages industries. Pharmaceutical company debt gained as drug makers issued bonds to raise capital for merger and acquisition activity and to expand efforts to innovate new products. Food and beverage company bonds also advanced amid growing consumer spending on online food delivery. Communications companies also made a substantial contribution, especially in the wirelines industry. As large telecommunications companies took steps to reduce debt, their bond prices surged.

Declining inflation during the reporting period meant negative returns from hedging activity, which was the largest detractor from the Fund’s return. Typically, increasing inflation rates reduce the price of existing bonds, meaning a rise in inflation detracts from bond fund performance. Conversely, lower inflation usually increases bond prices. An inflation hedged fund attempts to avoid these fluctuations by offsetting inflation risk, primarily using inflation hedging instruments, such as inflation swaps.

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

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 Fund posted a positive return for the reporting period, despite the substantial negative impact of the interest rate hedge. Investment-grade corporate bonds advanced significantly amid strong demand from investors seeking higher yields than those available from government securities, with relatively low risk.

Consumer non-cyclical companies were also significant contributors to the Fund’s performance, particularly in the pharmaceuticals, food products, and beverages industries. Pharmaceutical company debt gained as drug makers issued bonds to raise capital for merger and acquisition activity and to expand efforts to innovate new products. Food and beverage company bonds also advanced amid growing consumer spending on online food delivery services. Communications companies also made a substantial contribution, especially in the wirelines industry. As large telecommunications companies took steps to reduce debt, their bond prices surged.

Declining interest rates during the reporting period meant negative returns 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, falling 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 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 falling interest rates.

The iShares Interest Rate Hedged High Yield 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 advanced modestly during the reporting period. High-yield corporate bonds posted solid gains, benefiting from falling interest rates and investors’ search for yield. However, these gains were partially offset by the negative impact of the interest rate hedge, which detracted from the Fund’s return.

Corporate bonds issued by companies in the U.S. contributed the majority of the Fund’s return. The supply of high-yield bonds increased, rising to its highest level in three years during June 2019, as lower interest rates and strong investor demand drove significant new issuance. High-yield credit spreads, or yield premiums relative to U.S. Treasuries, were relatively unchanged despite considerable volatility during the reporting period. Credit spreads widened dramatically in late 2018, then narrowed in early 2019 as the economic outlook improved.

From a sector perspective, the largest contributors to the Fund’s performance were high-yield corporate bonds issued by communications companies, as cable and satellite providers increased their profit margins. Consumer-oriented companies, both cyclical and non-cyclical, benefited from continued economic growth, which supported consumer spending. Financial bonds also added to the Fund’s performance, as many financial institutions reported strong profit growth.

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.


Security	Shares		Value

Investment Companies

Exchange-Traded Funds — 94.8%
iShares iBoxx $ Investment Grade Corporate Bond ETF^(a)		58,664	$	7,491,979


Total Investment Companies — 94.8% (Cost: $6,716,805)				7,491,979


Short-Term Investments

Money Market Funds — 1.5%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(a)(b)		118,000		118,000


Total Short-Term Investments — 1.5% (Cost: $118,000)				118,000


Total Investments in Securities — 96.3% (Cost: $6,834,805)				7,609,979

Other Assets, Less Liabilities — 3.7%				288,362


Net Assets — 100.0%			$	7,898,341

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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

As of October 31, 2019, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2019, 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 — 99.4%
iShares iBoxx $ Investment Grade Corporate Bond ETF^(a)(b)(c)		982,545	$	125,480,822


Total Investment Companies — 99.4% (Cost: $116,167,361)				125,480,822


Short-Term Investments

Money Market Funds — 2.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.00%^(a)(d)(e)		1,294,451		1,295,098
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(a)(d)		2,321,000		2,321,000

				3,616,098


Total Short-Term Investments — 2.9% (Cost: $3,616,081)				3,616,098


Total Investments in Securities — 102.3% (Cost: $119,783,442)				129,096,920

Other Assets, Less Liabilities — (2.3)%				(2,865,316	)


Net Assets — 100.0%			$	126,231,604

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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

As of October 31, 2019, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2019, 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 — 97.7%
iShares iBoxx $ High Yield Corporate Bond ETF^(a)(b)		1,285,719	$	111,613,267


Total Investment Companies — 97.7% (Cost: $113,291,363)				111,613,267


Short-Term Investments

Money Market Funds — 44.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.00%^(a)(c)(d)		49,926,142		49,951,105
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(a)(c)		1,324,000		1,324,000

				51,275,105


Total Short-Term Investments — 44.9% (Cost: $51,266,572)				51,275,105


Total Investments in Securities — 142.6% (Cost: $164,557,935)				162,888,372

Other Assets, Less Liabilities — (42.6)%				(48,676,787	)


Net Assets — 100.0%			$	114,211,585

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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

As of October 31, 2019, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:

For the year ended October 31, 2019, 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 should be read in conjunction with the Funds’ financial statements.

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

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.

The following table is a summary of the securities lending agreements by counterparty which are subject to offset under an MSLA as of October 31, 2019:

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 standardized, exchange-traded agreements to buy or sell a specific quantity of an underlying instrument at a set price on a future date. Depending on the terms of a contract, a futures contract 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, a fund is required to pledge to the executing broker which holds segregated from its own assets, an amount of cash, U.S. government securities or other high-quality debt and equity securities equal to the minimum initial margin requirements of the exchange on which the contract is traded. Securities deposited as initial margin, if any, are designated in the schedule of investments and cash deposited, if any, is shown as cash pledged for futures contracts in the statement of assets and liabilities.

Pursuant to the contract, a 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 or 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. Losses may arise if the notional value of a futures contract decreases due to an unfavorable change in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and the assets underlying such contracts.

Swaps: Swaps are financial agreements to exchange cash flows 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. 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.

Swap agreements are privately negotiated in the over-the-counter market and may be entered into as a bilateral contract or centrally cleared (“centrally cleared swaps”). Each Fund enters into 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 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. The daily change in valuation of centrally cleared swaps is recorded as variation margin receivable or payable on centrally cleared swaps in the statement of assets and liabilities. Payments received from (paid to) the counterparty, including at termination, are recorded as realized gains (losses) in the statement of operations. Payments received from (paid to) the counterparty are amortized over the term of the contract as a realized gain (loss) in the statement of operations.

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.

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:

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%.

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, 2019, iShares Inflation Hedged Corporate Bond ETF received a reimbursement of $3,785 from an affiliate, which is included in other income — affiliated in the statement of operations, related to an operating event.

For the year ended October 31, 2019, purchases and sales of investments, excluding in-kind transactions and short-term investments, 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, 2019, 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, 2019, the tax components of accumulated net earnings (losses) were as follows:

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. 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.

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 Inflation Hedged Corporate Bond ETF, iShares Interest Rate Hedged High Yield Bond ETF and iShares Interest Rate Hedged Corporate Bond ETF (three of the funds constituting iShares U.S. ETF Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2019, the related statements of operations and changes in net assets for each of the periods indicated in the table below, 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, 2019, the results of each of their operations and changes in each of their net assets for each of the periods indicated in the table below 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.

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, 2019 by correspondence with the custodian, transfer agent and brokers. We believe that our audits provide a reasonable basis for our opinions.

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

The Funds hereby designate the following amounts of distributions from direct federal obligation interest for the fiscal year ended October 31, 2019:

The following distribution amounts are hereby designated for the fiscal year ended October 31, 2019:

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 Trustees who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Trustees”), is required annually to consider and approve the Investment Advisory Contract between the Trust and BFA (the “Advisory Contract”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Trustees) 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 Trustees requested, and BFA provided, such information as the Independent Trustees, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Contract. At meetings on May 6, 2019 and May 17, 2019, a committee composed of all of the Independent Trustees (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 their independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 17-19, 2019, the Board, including the Independent Trustees, reviewed the additional information provided by management in response to these requests.

After extensive discussions and deliberations, the Board, including all of the Independent Trustees, 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 Trustees. 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 Trustees were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the Advisory Contract for the Fund, the Board, including the Independent Trustees, 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) economies of scale; (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, no one of which was controlling, and conclusions that formed the basis for the Board, including the Independent Trustees, to approve 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 further 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.

In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-, three-, five-, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2018, to that of relevant comparison fund(s) for the same periods. 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 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 by BFA: 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 to 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 17-19, 2019 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.

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 during their meetings. The Board recognized that profitability may be affected by numerous factors including, among other things, fee waivers by the Adviser, 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 the sources of direct and ancillary revenue with management, 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, noting that such costs have increased over the past year. 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 ETF, 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 increased 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 BFAaffiliate 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 Trustees, 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.

II. iShares Interest Rate Hedged Corporate Bond ETF and iShares Interest Rate Hedged High Yield Bond ETF (the “Funds”)

The Board also noted that the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) for the Funds were higher than the median of the investment advisory fee rates and overall expenses (net of any waivers and reimbursements) of the funds in their respective Peer Group, excluding iShares funds. In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as any particular Fund, Broadridge also provided, and the Board reviewed, a comparison of such Fund’s performance for the one-, three-, five-, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2018, to that of relevant comparison fund(s) for the same periods. The Board noted that each Fund is an actively managed ETF that does not seek to track the performance of a specified index and that the management team for each Fund manages its portfolio in accordance with its investment objective. The Board further noted that, during the year, the Board received periodic reports on each 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 each Fund generally performed in line with expectations relative to its respective reference benchmark.

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 strategies or investment mandates as the Funds. The Board further noted that BFA provided the Board with detailed information regarding how the Other Accounts generally differ from the Funds, including in terms of the types of services and generally more extensive services provided to the Funds, 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 Funds, as a publicly traded ETFs, 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 Funds’ advisory fee structure, and the Funds’ expenses borne by BFA under this arrangement. The Board noted that the investment advisory fee rates under the Advisory Contract for the Funds 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.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.4%
Lamar Media Corp.
5.00%, 05/01/23 (Call 05/01/20)^(a)	$	10,490	$	10,687,781
5.38%, 01/15/24 (Call 01/15/20)		8,463		8,679,825
5.75%, 02/01/26 (Call 02/01/21)^(a)		15,041		15,903,488
Outfront Media Capital LLC/Outfront Media Capital Corp.
5.00%, 08/15/27 (Call 08/15/22)^(a)(b)		13,587		14,222,328
5.63%, 02/15/24 (Call 02/15/20)		10,112		10,395,397
5.88%, 03/15/25 (Call 09/15/20)^(a)		8,754		9,038,505

				68,927,324

Aerospace & Defense — 2.8%
Arconic Inc.
5.13%, 10/01/24 (Call 07/01/24)^(a)		27,044		29,004,690
5.40%, 04/15/21 (Call 01/15/21)^(a)		26,765		27,574,127
5.87%, 02/23/22		12,698		13,543,647
6.15%, 08/15/20^(a)		4,718		4,848,975
BBA U.S. Holdings Inc., 4.00%, 03/01/28 (Call 03/01/23)^(b)		8,322		8,259,585
Bombardier Inc.
5.75%, 03/15/22^(b)		10,640		10,427,200
6.00%, 10/15/22 (Call 04/15/20)^(a)(b)		27,529		26,832,172
6.13%, 01/15/23^(a)(b)		27,322		26,701,157
7.50%, 12/01/24 (Call 12/01/20)^(a)(b)		22,183		21,475,917
7.50%, 03/15/25 (Call 03/15/20)^(a)(b)		34,161		32,692,682
7.88%, 04/15/27 (Call 04/15/22)^(b)		46,325		43,748,172
8.75%, 12/01/21^(b)		21,088		22,365,636
TransDigm Inc.
5.50%, 11/15/27 (Call 11/15/22)^(b)		35,936		35,817,052
6.00%, 07/15/22 (Call 07/15/20)^(a)		27,598		28,067,166
6.25%, 03/15/26 (Call 03/15/22)^(a)(b)		92,384		98,908,620
6.38%, 06/15/26 (Call 06/15/21)^(a)		20,918		21,807,015
6.50%, 07/15/24 (Call 07/15/20)^(a)		26,733		27,558,381
6.50%, 05/15/25 (Call 05/15/20)^(a)		15,932		16,504,755
7.50%, 03/15/27 (Call 03/15/22)^(a)		10,864		11,692,597
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/15/21)^(a)		10,415		11,083,839
Triumph Group Inc.
6.25%, 09/15/24 (Call 09/15/20)^(b)		5,622		5,904,506
7.75%, 08/15/25 (Call 08/15/20)^(a)		12,493		12,512,520

				537,330,411

Agriculture — 0.3%
JBS Investments II GmbH
5.75%, 01/15/28 (Call 07/30/22)^(a)(b)		16,440		17,097,600
7.00%, 01/15/26 (Call 01/15/22)^(b)		22,054		23,906,536
Vector Group Ltd., 6.13%, 02/01/25 (Call 02/01/20)^(b)		20,661		19,836,713

				60,840,849

Airlines — 0.2%
Air Canada, 7.75%, 04/15/21^(a)(b)		7,645		8,199,613
American Airlines Group Inc., 5.00%, 06/01/22^(b)		16,154		16,863,461
United Airlines Holdings Inc., 4.25%, 10/01/22^(a)		7,864		8,114,468

				33,177,542

Apparel — 0.2%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)(b)		17,324		18,189,911
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		21,085		22,303,976

				40,493,887


Security	Par (000)		Value

Auto Manufacturers — 0.9%
Allison Transmission Inc.
4.75%, 10/01/27 (Call 10/01/22)^(a)(b)	$	9,345	$	9,565,776
5.00%, 10/01/24 (Call 10/01/20)^(a)(b)		23,314		23,884,027
5.88%, 06/01/29 (Call 06/01/24)^(a)(b)		10,586		11,403,107
Fiat Chrysler Automobiles NV, 5.25%, 04/15/23^(a)		31,515		33,642,262
Jaguar Land Rover Automotive PLC
4.50%, 10/01/27 (Call 07/01/27)^(a)(b)		9,750		8,364,734
5.63%, 02/01/23 (Call 02/01/20)^(a)(b)		12,850		12,801,455
Navistar International Corp., 6.63%, 11/01/25 (Call 11/01/20)^(a)(b)		25,474		25,935,716
Tesla Inc., 5.30%, 08/15/25 (Call 08/15/20)^(a)(b)		41,628		39,276,018

				164,873,095

Auto Parts & Equipment — 1.2%
Adient Global Holdings Ltd., 4.88%, 08/15/26 (Call 08/15/21)^(a)(b)		19,977		15,829,653
Adient U.S. LLC, 7.00%, 05/15/26 (Call 05/15/22)^(b)		16,535		17,364,766
American Axle & Manufacturing Inc.
6.25%, 04/01/25 (Call 04/01/20)^(a)		16,935		16,363,444
6.25%, 03/15/26 (Call 03/15/21)^(a)		9,104		8,660,891
6.50%, 04/01/27 (Call 04/01/22)^(a)		11,566		10,973,243
6.63%, 10/15/22 (Call 10/15/20)		8,910		8,982,938
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/20)^(a)(b)		8,438		8,710,710
Dana Inc., 5.50%, 12/15/24 (Call 12/15/19)^(a)		9,687		9,968,529
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(a)		15,352		15,440,613
5.00%, 05/31/26 (Call 05/31/21)^(a)		19,949		20,647,215
5.13%, 11/15/23 (Call 11/15/19)^(a)		22,271		22,574,331
Panther BF Aggregator 2 LP/Panther Finance Co. Inc.
6.25%, 05/15/26 (Call 05/15/22)^(a)(b)		22,079		23,419,637
8.50%, 05/15/27 (Call 05/15/22)^(a)(b)		44,974		45,311,305

				224,247,275

Banks — 1.2%
CIT Group Inc.
4.13%, 03/09/21 (Call 02/09/21)		9,223		9,430,517
4.75%, 02/16/24 (Call 11/16/23)^(a)		11,931		12,743,148
5.00%, 08/15/22		24,203		25,750,762
5.00%, 08/01/23		17,119		18,465,593
5.25%, 03/07/25 (Call 12/07/24)^(a)		12,422		13,670,877
6.13%, 03/09/28		11,470		13,534,600
Deutsche Bank AG, 4.30%, 05/24/28 (Call 05/24/23)^(a)(c)		32,746		30,984,632
Deutsche Bank AG/New York NY, 4.88%, 12/01/32 (Call 12/01/27)^(a)(c)		23,053		21,117,009
Fifth Third Bancorp., 5.10%, (Call 06/30/23)^(a)(c)(d)		14,668		14,894,590
Freedom Mortgage Corp.
8.13%, 11/15/24 (Call 11/15/20)^(a)(b)		9,443		8,890,683
8.25%, 04/15/25 (Call 04/15/21)^(b)		15,143		14,272,277
Intesa Sanpaolo SpA, 5.02%, 06/26/24^(a)(b)		45,715		47,689,797

				231,444,485

Building Materials — 0.8%
Builders FirstSource Inc.
5.63%, 09/01/24 (Call 09/01/20)^(a)(b)		12,229		12,744,366
6.75%, 06/01/27 (Call 06/01/22)^(a)(b)		13,406		14,580,620
Griffon Corp., 5.25%, 03/01/22 (Call 03/01/20)		21,754		21,900,256
Standard Industries Inc./NJ
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		21,743		22,540,968
5.00%, 02/15/27 (Call 02/15/22)^(b)		10,332		10,812,007
5.38%, 11/15/24 (Call 11/15/19)^(b)		22,969		23,630,507


Security	Par (000)		Value

Building Materials (continued)
5.50%, 02/15/23 (Call 02/15/20)^(a)(b)	$	11,082	$	11,289,787
6.00%, 10/15/25 (Call 10/15/20)^(b)		24,382		25,673,515
Summit Materials LLC/Summit Materials Finance Corp., 6.13%, 07/15/23 (Call 07/15/20)		12,005		12,214,712

				155,386,738

Chemicals — 1.4%
Ashland LLC, 4.75%, 08/15/22 (Call 05/15/22)^(a)		23,092		24,188,870
Blue Cube Spinco LLC
9.75%, 10/15/23 (Call 10/15/20)		13,385		14,631,723
10.00%, 10/15/25 (Call 10/15/20)		9,068		10,144,825
CF Industries Inc., 3.45%, 06/01/23		13,220		13,494,040
Chemours Co. (The)
5.38%, 05/15/27 (Call 02/15/27)^(a)		11,792		10,451,889
6.63%, 05/15/23 (Call 05/15/20)		19,361		19,270,340
7.00%, 05/15/25 (Call 05/15/20)^(a)		17,215		16,555,092
NOVA Chemicals Corp.
4.88%, 06/01/24 (Call 03/03/24)^(a)(b)		22,670		23,082,311
5.00%, 05/01/25 (Call 01/31/25)^(b)		12,633		12,762,109
5.25%, 08/01/23 (Call 08/01/20)^(b)		10,487		10,628,423
5.25%, 06/01/27 (Call 03/03/27)^(b)		22,993		23,707,220
OCI NV, 5.25%, 11/01/24 (Call 11/01/21)^(a)(b)		11,425		11,810,594
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(a)		12,087		11,926,790
5.13%, 09/15/27 (Call 03/15/22)^(a)		9,379		9,683,818
5.63%, 08/01/29 (Call 08/01/24)		18,718		19,548,611
Tronox Finance PLC, 5.75%, 10/01/25 (Call 10/01/20)^(a)(b)		9,324		8,760,814
Tronox Inc., 6.50%, 04/15/26 (Call 04/15/21)^(a)(b)		14,494		13,994,474
WR Grace & Co.-Conn, 5.13%, 10/01/21^(b)		14,673		15,226,906

				269,868,849

Coal — 0.1%
Peabody Energy Corp.
6.00%, 03/31/22 (Call 03/31/20)^(b)		6,801		6,290,925
6.38%, 03/31/25 (Call 03/31/20)^(b)		7,600		6,248,964

				12,539,889

Commercial Services — 3.6%
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
5.50%, 04/01/23 (Call 04/01/20)		4,300		4,384,710
5.75%, 07/15/27 (Call 06/15/22)^(a)(b)		8,826		9,061,694
Herc Holdings Inc., 5.50%, 07/15/27 (Call 07/15/22)^(a)(b)		27,993		29,172,157
Hertz Corp. (The)
5.50%, 10/15/24 (Call 10/15/20)^(a)(b)		18,656		18,509,229
6.25%, 10/15/22 (Call 10/15/20)		9,992		10,082,165
7.13%, 08/01/26 (Call 08/01/22)^(a)(b)		11,402		11,757,875
7.63%, 06/01/22 (Call 06/01/20)^(a)(b)		27,483		28,598,961
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 08/01/23 (Call 08/01/20)^(a)(b)		22,666		23,459,310
MPH Acquisition Holdings LLC, 7.13%, 06/01/24 (Call 06/01/20)^(b)		36,937		34,354,295
Nielsen Co Luxembourg SARL/The
5.00%, 02/01/25 (Call 02/01/20)^(a)(b)		12,739		12,707,152
5.50%, 10/01/21 (Call 12/02/19)^(a)(b)		11,742		11,781,385
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 10/01/20 (Call 12/02/19)		11,283		11,311,884
5.00%, 04/15/22 (Call 04/15/20)^(b)		51,968		52,357,760


Security	Par (000)		Value

Commercial Services (continued)
Prime Security Services Borrower LLC/Prime Finance Inc.
5.25%, 04/15/24^(b)	$	18,829	$	19,266,413
5.75%, 04/15/26^(a)(b)		30,724		31,482,883
9.25%, 05/15/23 (Call 05/15/20)^(b)		23,716		24,949,232
Refinitiv U.S. Holdings Inc.
6.25%, 05/15/26 (Call 11/15/21)^(a)(b)		27,164		29,472,940
8.25%, 11/15/26 (Call 11/15/21)^(a)(b)		37,076		41,664,155
Service Corp. International/U.S.
4.63%, 12/15/27 (Call 12/15/22)^(a)		11,256		11,747,156
5.13%, 06/01/29 (Call 06/01/24)		16,067		17,211,774
5.38%, 05/15/24 (Call 05/15/20)^(a)		15,259		15,719,846
ServiceMaster Co. LLC (The), 5.13%, 11/15/24 (Call 11/15/19)^(a)(b)		18,249		18,919,397
United Rentals North America Inc.
3.88%, 11/15/27 (Call 11/15/22)		3,589		3,625,787
4.63%, 07/15/23 (Call 11/20/19)		22,361		22,869,713
4.63%, 10/15/25 (Call 10/15/20)^(a)		15,674		16,011,145
4.88%, 01/15/28 (Call 01/15/23)^(a)		37,460		38,677,450
5.25%, 01/15/30 (Call 01/15/25)^(a)		16,163		17,011,557
5.50%, 07/15/25 (Call 07/15/20)		17,381		18,097,097
5.50%, 05/15/27 (Call 05/15/22)		22,532		23,799,425
5.88%, 09/15/26 (Call 09/15/21)		22,425		23,797,231
6.50%, 12/15/26 (Call 12/15/21)^(a)		21,888		23,692,561
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)^(b)		25,957		27,705,043

				683,259,382

Computers — 1.4%
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)^(a)(b)		34,048		31,877,440
Dell Inc., 4.63%, 04/01/21^(a)		7,179		7,380,012
Dell International LLC/EMC Corp.
5.88%, 06/15/21 (Call 06/15/20)^(b)		23,353		23,738,546
7.13%, 06/15/24 (Call 06/15/20)^(a)(b)		30,905		32,698,223
EMC Corp., 3.38%, 06/01/23 (Call 03/01/23)^(a)		21,785		21,974,747
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 07/15/20)^(a)(b)		18,571		8,809,618
Harland Clarke Holdings Corp.
8.38%, 08/15/22 (Call 02/15/20)^(b)		20,107		15,969,599
9.25%, 03/01/21 (Call 03/01/20)^(a)(b)		12,785		11,796,826
Leidos Holdings Inc., 4.45%, 12/01/20 (Call 09/01/20)		505		511,944
NCR Corp.
5.00%, 07/15/22 (Call 07/15/20)^(a)		12,784		12,911,840
5.75%, 09/01/27 (Call 09/01/22)^(b)		9,816		10,029,848
5.88%, 12/15/21 (Call 12/15/19)^(a)		6,715		6,741,930
6.13%, 09/01/29 (Call 09/01/24)^(a)(b)		12,636		13,215,479
6.38%, 12/15/23 (Call 12/15/19)^(a)		13,588		13,932,802
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(a)		52,744		53,863,096

				265,451,950

Cosmetics & Personal Care — 0.3%
Avon International Capital PLC, 6.50%, 08/15/22 (Call 08/15/20)^(a)(b)		7,670		7,957,625
Avon International Operations Inc., 7.88%, 08/15/22 (Call 08/15/20)^(b)		9,464		9,859,038
Avon Products Inc., 7.00%, 03/15/23		12,424		13,076,260
Edgewell Personal Care Co.
4.70%, 05/19/21		13,706		14,067,290
4.70%, 05/24/22^(a)		10,234		10,592,190


Security	Par (000)		Value

Cosmetics & Personal Care (continued)
First Quality Finance Co. Inc., 5.00%, 07/01/25 (Call 07/01/20)^(a)(b)	$	7,247	$	7,502,094

				63,054,497

Distribution & Wholesale — 0.2%
American Builders & Contractors Supply Co. Inc.
4.00%, 01/15/28 (Call 01/15/23)^(b)		9,568		9,556,040
5.88%, 05/15/26 (Call 05/15/21)^(a)(b)		249		261,525
Anixter Inc., 5.13%, 10/01/21^(a)		7,171		7,408,360
Performance Food Group Inc., 5.50%, 10/15/27 (Call 10/15/22)^(b)		21,069		22,337,132

				39,563,057

Diversified Financial Services — 3.2%
AerCap Holdings NV, 5.88%, 10/10/79 (Call 10/10/24)^(c)		9,978		10,438,984
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.63%, 07/15/26 (Call 07/15/22)^(a)(b)		22,579		24,033,839
9.75%, 07/15/27 (Call 07/15/22)^(b)		24,820		26,156,661
Ally Financial Inc.
3.88%, 05/21/24 (Call 04/21/24)		11,015		11,519,718
4.13%, 02/13/22		4,759		4,923,384
4.25%, 04/15/21^(a)		10,084		10,338,621
4.63%, 05/19/22		7,093		7,431,159
4.63%, 03/30/25^(a)		7,970		8,667,774
5.13%, 09/30/24^(a)		14,088		15,507,366
5.75%, 11/20/25 (Call 10/20/25)		22,619		25,220,185
7.50%, 09/15/20^(a)		3,336		3,477,780
Nationstar Mortgage Holdings Inc.
8.13%, 07/15/23 (Call 07/15/20)^(b)		20,286		21,492,595
9.13%, 07/15/26 (Call 07/15/21)^(b)		16,624		18,120,160
Nationstar Mortgage LLC/Nationstar Capital Corp., 6.50%, 07/01/21 (Call 12/02/19)^(a)		9,596		9,631,483
Navient Corp.
5.00%, 10/26/20^(a)		6,184		6,295,138
5.50%, 01/25/23		21,544		22,432,690
5.88%, 03/25/21		12,438		12,896,713
5.88%, 10/25/24^(a)		11,258		11,599,009
6.13%, 03/25/24^(a)		19,947		20,989,979
6.50%, 06/15/22^(a)		22,596		24,283,921
6.63%, 07/26/21^(a)		15,420		16,319,410
6.75%, 06/25/25^(a)		11,131		11,767,693
6.75%, 06/15/26^(a)		11,676		12,201,420
7.25%, 01/25/22^(a)		15,773		17,108,973
7.25%, 09/25/23		9,641		10,556,702
Quicken Loans Inc.
5.25%, 01/15/28 (Call 01/15/23)^(a)(b)		22,569		23,213,684
5.75%, 05/01/25 (Call 05/01/20)^(a)(b)		26,859		27,717,951
Springleaf Finance Corp.
5.63%, 03/15/23^(a)		18,252		19,666,530
6.13%, 05/15/22		21,707		23,362,159
6.13%, 03/15/24 (Call 09/15/23)^(a)		27,395		29,888,372
6.63%, 01/15/28 (Call 07/15/27)^(a)		19,366		21,447,845
6.88%, 03/15/25^(a)		27,984		31,726,860
7.13%, 03/15/26^(a)		36,869		42,053,003
7.75%, 10/01/21		13,007		14,177,890
8.25%, 12/15/20^(a)		18,270		19,423,751

				616,089,402


Security	Par (000)		Value

Electric — 2.6%
AES Corp./VA
4.00%, 03/15/21^(a)	$	9,368	$	9,530,949
4.50%, 03/15/23 (Call 03/15/20)		10,827		11,108,798
4.88%, 05/15/23 (Call 05/15/20)^(a)		11,778		11,981,171
5.13%, 09/01/27 (Call 09/01/22)^(a)		9,347		10,022,962
5.50%, 04/15/25 (Call 04/15/20)^(a)		11,223		11,673,105
6.00%, 05/15/26 (Call 05/15/21)^(a)		9,824		10,514,873
Calpine Corp.
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		26,294		27,277,971
5.38%, 01/15/23 (Call 10/15/20)		27,463		27,833,429
5.50%, 02/01/24 (Call 02/01/20)^(a)		11,947		12,088,871
5.75%, 01/15/25 (Call 10/15/20)^(a)		30,420		31,256,550
5.88%, 01/15/24 (Call 11/01/19)^(a)(b)		9,765		9,969,516
6.00%, 01/15/22 (Call 11/01/19)^(b)		13,683		13,708,998
Clearway Energy Operating LLC
5.38%, 08/15/24 (Call 08/15/20)^(a)		10,356		10,524,285
5.75%, 10/15/25 (Call 10/15/21)^(a)		11,036		11,283,758
NextEra Energy Operating Partners LP
3.88%, 10/15/26 (Call 07/15/26)^(a)(b)		12,309		12,278,228
4.25%, 07/15/24 (Call 04/15/24)^(a)(b)		14,457		14,926,021
4.25%, 09/15/24 (Call 07/15/24)^(a)(b)		12,815		13,178,091
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		11,058		11,320,117
NRG Energy Inc.
5.25%, 06/15/29 (Call 06/15/24)^(a)(b)		15,558		16,773,469
5.75%, 01/15/28 (Call 01/15/23)^(a)		18,382		19,975,401
6.63%, 01/15/27 (Call 07/15/21)^(a)		28,538		31,016,468
7.25%, 05/15/26 (Call 05/15/21)^(a)		21,685		23,805,142
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 06/01/20)^(a)		14,633		11,007,939
6.63%, 01/15/28 (Call 01/15/23)^(b)		10,097		9,721,190
7.25%, 05/15/27 (Call 05/15/22)^(a)(b)		15,513		15,474,218
10.50%, 01/15/26 (Call 01/15/22)^(a)(b)		13,584		11,563,385
Vistra Energy Corp., 5.88%, 06/01/23 (Call 06/01/20)		8,520		8,707,545
Vistra Operations Co. LLC
5.00%, 07/31/27 (Call 07/31/22)^(a)(b)		30,591		31,699,924
5.50%, 09/01/26 (Call 09/01/21)^(a)(b)		19,918		21,022,851
5.63%, 02/15/27 (Call 02/15/22)^(a)(b)		27,670		29,406,580

				490,651,805

Electrical Components & Equipment — 0.2%
Energizer Holdings Inc.
5.50%, 06/15/25 (Call 06/15/20)^(a)(b)		12,707		13,183,513
6.38%, 07/15/26 (Call 07/15/21)^(a)(b)		12,413		13,223,786
7.75%, 01/15/27 (Call 01/15/22)^(a)(b)		15,319		16,949,113

				43,356,412

Electronics — 0.8%
ADT Security Corp. (The)
3.50%, 07/15/22^(a)		20,549		20,635,127
4.13%, 06/15/23^(a)		15,168		15,439,761
6.25%, 10/15/21^(a)		22,550		24,128,500
APX Group Inc.
7.63%, 09/01/23 (Call 09/01/20)^(a)		9,523		8,383,216
7.88%, 12/01/22 (Call 12/01/19)^(a)		21,588		21,561,015
8.75%, 12/01/20 (Call 12/02/19)		8,013		7,894,074
Sensata Technologies BV
4.88%, 10/15/23^(a)(b)		9,775		10,325,039
5.00%, 10/01/25^(a)(b)		14,133		15,231,134
5.63%, 11/01/24^(a)(b)		8,800		9,647,000


Security	Par (000)		Value

Electronics (continued)
Sensata Technologies Inc., 4.38%, 02/15/30 (Call 11/15/29)^(b)	$	12,239	$	12,357,565

				145,602,431

Energy – Alternate Sources — 0.2%
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)^(a)(b)		11,865		12,233,000
4.75%, 01/15/30 (Call 01/15/25)^(b)		14,833		15,333,614
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		16,798		17,758,845

				45,325,459

Engineering & Construction — 0.3%
AECOM
5.13%, 03/15/27 (Call 12/15/26)		22,305		23,580,846
5.88%, 10/15/24 (Call 07/15/24)^(a)		16,750		18,078,275
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/20)^(a)(b)		22,796		22,140,615

				63,799,736

Entertainment — 2.3%
AMC Entertainment Holdings Inc.
5.75%, 06/15/25 (Call 06/15/20)^(a)		14,282		13,584,377
5.88%, 11/15/26 (Call 11/15/21)^(a)		13,069		11,909,126
6.13%, 05/15/27 (Call 05/15/22)^(a)		9,570		8,654,869
Caesars Resort Collection LLC/CRC Finco Inc., 5.25%, 10/15/25 (Call 10/15/20)^(a)(b)		40,145		41,148,625
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)^(a)(b)		12,213		13,072,551
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op, 5.38%, 04/15/27 (Call 04/15/22)		10,728		11,398,500
Churchill Downs Inc.
4.75%, 01/15/28 (Call 01/15/23)^(b)		11,091		11,465,321
5.50%, 04/01/27 (Call 04/01/22)^(a)(b)		13,041		13,839,813
Cinemark USA Inc.
4.88%, 06/01/23 (Call 06/01/20)		13,994		14,203,910
5.13%, 12/15/22 (Call 12/15/19)^(a)		6,854		6,944,636
Eldorado Resorts Inc.
6.00%, 04/01/25 (Call 04/01/20)		21,408		22,558,680
6.00%, 09/15/26 (Call 09/15/21)		12,546		13,764,904
International Game Technology PLC
6.25%, 02/15/22 (Call 08/15/21)^(a)(b)		33,498		35,385,753
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		17,055		19,080,008
6.50%, 02/15/25 (Call 08/15/24)^(a)(b)		23,217		25,857,934
Lions Gate Capital Holdings LLC
5.88%, 11/01/24 (Call 11/01/19)^(a)(b)		11,334		10,682,295
6.38%, 02/01/24 (Call 02/01/21)^(a)(b)		12,086		11,640,329
Live Nation Entertainment Inc., 4.75%, 10/15/27 (Call 10/15/22)^(a)(b)		6,514		6,791,496
Scientific Games International Inc.
5.00%, 10/15/25 (Call 10/15/20)^(a)(b)		27,429		28,217,584
8.25%, 03/15/26 (Call 03/15/22)^(a)(b)		25,152		26,661,120
10.00%, 12/01/22 (Call 12/01/19)^(a)		21,886		22,542,580
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 07/31/20)^(a)(b)		20,651		21,322,158
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		11,517		12,064,058
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 (Call 07/15/21)^(a)(b)		24,324		26,216,407

				429,007,034

Environmental Control — 0.3%
Covanta Holding Corp. 5.88%, 03/01/24 (Call 03/01/20)^(a)		8,119		8,362,579


Security	Par (000)		Value

Environmental Control (continued)
5.88%, 07/01/25 (Call 07/01/20)^(a)	$	7,690	$	8,022,052
6.00%, 01/01/27 (Call 01/01/22)^(a)		8,992		9,452,840
GFL Environmental Inc.
5.38%, 03/01/23 (Call 03/01/20)^(a)(b)		8,452		8,726,690
7.00%, 06/01/26 (Call 06/01/21)^(a)(b)		7,443		7,922,965
8.50%, 05/01/27 (Call 05/01/22)^(a)(b)		15,743		17,277,942

				59,765,068

Food — 2.5%
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC
5.75%, 03/15/25 (Call 09/15/20)		28,599		29,662,883
5.88%, 02/15/28 (Call 08/15/22)^(b)		15,728		16,839,318
6.63%, 06/15/24 (Call 06/15/20)		27,830		29,186,712
7.50%, 03/15/26 (Call 03/15/22)^(a)(b)		14,408		16,082,518
B&G Foods Inc.
5.25%, 04/01/25 (Call 04/01/20)^(a)		23,327		23,779,327
5.25%, 09/15/27 (Call 03/01/22)^(a)		12,660		12,628,350
JBS Investments GmbH, 6.25%, 02/05/23
(Call 02/05/20)^(b)		12,137		12,372,458
JBS USA LUX SA/JBS USA Finance Inc.
5.75%, 06/15/25 (Call 06/15/20)^(a)(b)		25,031		26,000,951
5.88%, 07/15/24 (Call 07/15/20)^(a)(b)		19,083		19,679,046
6.75%, 02/15/28 (Call 02/15/23)^(b)		19,500		21,535,439
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance Inc.
5.50%, 01/15/30 (Call 01/15/25)^(a)(b)		26,396		28,361,560
6.50%, 04/15/29 (Call 04/15/24)^(a)(b)		31,799		35,362,542
Lamb Weston Holdings Inc.
4.63%, 11/01/24 (Call 11/01/21)^(a)(b)		18,028		18,990,996
4.88%, 11/01/26 (Call 11/01/21)^(a)(b)		16,983		17,909,890
Pilgrim’s Pride Corp.
5.75%, 03/15/25 (Call 03/15/20)^(b)		23,046		23,881,417
5.88%, 09/30/27 (Call 09/30/22)^(a)(b)		18,566		19,879,545
Post Holdings Inc.
5.00%, 08/15/26 (Call 08/15/21)^(b)		36,578		38,136,223
5.50%, 03/01/25 (Call 03/01/20)^(a)(b)		21,927		22,989,819
5.50%, 12/15/29 (Call 12/15/24)^(b)		18,822		19,865,157
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		20,052		21,410,385
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		28,001		29,810,705

				484,365,241

Food Service — 0.4%
Aramark Services Inc.
4.75%, 06/01/26 (Call 06/01/21)^(a)		9,623		9,891,714
5.00%, 04/01/25 (Call 04/01/20)^(a)(b)		14,431		15,026,279
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		26,944		28,156,480
5.13%, 01/15/24 (Call 01/15/20)		20,534		21,170,759

				74,245,232

Gas — 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)^(a)		16,401		17,632,715
5.63%, 05/20/24 (Call 03/20/24)^(a)		12,758		13,803,891
5.75%, 05/20/27 (Call 02/20/27)^(a)		11,825		12,970,192
5.88%, 08/20/26 (Call 05/20/26)^(a)		13,736		15,257,262

				59,664,060

Hand & Machine Tools — 0.1%
Colfax Corp.
6.00%, 02/15/24 (Call 02/15/21)^(a)(b)		12,398		13,190,041
6.38%, 02/15/26 (Call 02/15/22)^(a)(b)		7,502		8,120,915

				21,310,956


Security	Par (000)		Value

Health Care – Products — 0.9%
Avantor Inc.
6.00%, 10/01/24 (Call 10/01/20)^(a)(b)	$	35,896	$	38,368,517
9.00%, 10/01/25 (Call 10/01/20)^(a)(b)		47,800		53,458,923
Hologic Inc.
4.38%, 10/15/25 (Call 10/15/20)^(a)(b)		22,678		23,263,022
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		7,692		8,071,312
Kinetic Concepts Inc./KCI USA Inc., 12.50%, 11/01/21 (Call 05/01/20)^(a)(b)		175		183,356
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 6.63%, 05/15/22 (Call 12/02/19)^(a)(b)		29,648		28,647,380
Teleflex Inc.
4.63%, 11/15/27 (Call 11/15/22)^(a)		9,867		10,371,450
4.88%, 06/01/26 (Call 06/01/21)^(a)		8,874		9,303,834

				171,667,794

Health Care – Services — 6.8%
Acadia Healthcare Co. Inc., 5.63%, 02/15/23 (Call 02/15/20)		16,473		16,761,278
Centene Corp.
4.75%, 05/15/22 (Call 05/15/20)		22,481		23,004,135
4.75%, 01/15/25 (Call 01/15/20)		27,499		28,452,473
5.38%, 06/01/26 (Call 06/01/21)^(b)		43,167		45,630,118
6.13%, 02/15/24 (Call 02/15/20)		19,127		19,921,918
Charles River Laboratories International Inc., 4.25%, 05/01/28 (Call 05/01/23)^(b)		9,069		9,239,044
CHS/Community Health Systems Inc.
5.13%, 08/01/21 (Call 02/01/20)^(a)		20,626		20,574,435
6.25%, 03/31/23 (Call 03/31/20)^(a)		73,282		71,515,383
6.88%, 02/01/22 (Call 02/01/20)^(a)		52,222		39,922,152
8.00%, 03/15/26 (Call 03/15/22)^(b)		37,986		37,083,832
8.13%, 06/30/24 (Call 06/30/21)^(a)(b)		27,590		21,103,627
8.63%, 01/15/24 (Call 01/15/21)^(a)(b)		24,589		25,059,924
9.88%, 06/30/23 (Call 06/30/20)^(a)(b)(e)		39,436		32,919,201
DaVita Inc.
5.00%, 05/01/25 (Call 05/01/20)^(a)		33,946		34,377,114
5.13%, 07/15/24 (Call 07/15/20)^(a)		39,556		40,436,615
Encompass Health Corp.
4.50%, 02/01/28 (Call 02/01/23)		9,475		9,683,881
4.75%, 02/01/30 (Call 02/01/25)		10,704		11,012,696
5.75%, 11/01/24 (Call 11/01/19)^(a)		20,265		20,517,861
Envision Healthcare Corp., 8.75%, 10/15/26 (Call 10/15/21)^(a)(b)		28,384		16,320,800
HCA Healthcare Inc., 6.25%, 02/15/21^(a)		18,322		19,239,023
HCA Inc.
5.38%, 02/01/25^(a)		58,535		64,315,331
5.38%, 09/01/26 (Call 03/01/26)^(a)		22,149		24,197,783
5.63%, 09/01/28 (Call 03/01/28)^(a)		33,961		38,163,674
5.88%, 05/01/23^(a)		26,908		29,596,841
5.88%, 02/15/26 (Call 08/15/25)		33,634		37,805,100
5.88%, 02/01/29 (Call 08/01/28)^(a)		21,660		24,529,950
7.50%, 02/15/22		42,302		46,871,238
MEDNAX Inc.
5.25%, 12/01/23 (Call 12/01/19)^(a)(b)		15,558		15,789,873
6.25%, 01/15/27 (Call 01/15/22)^(b)		23,374		23,140,260
Molina Healthcare Inc., 5.38%, 11/15/22 (Call 08/15/22)^(a)		15,019		15,910,753
RegionalCare Hospital Partners Holdings Inc., 8.25%, 05/01/23 (Call 05/01/20)^(b)		16,657		17,776,662
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)^(a)(b)		30,852		33,780,370


Security	Par (000)		Value

Health Care – Services (continued)
Tenet Healthcare Corp.
4.63%, 07/15/24 (Call 07/15/20)	$	41,144	$	42,371,893
4.63%, 09/01/24 (Call 09/01/21)^(b)		12,366		12,731,779
4.88%, 01/01/26 (Call 03/01/22)^(a)(b)		43,764		45,295,740
5.13%, 05/01/25 (Call 05/01/20)^(a)		31,114		31,852,958
5.13%, 11/01/27 (Call 11/01/22)^(b)		32,989		34,393,734
6.25%, 02/01/27 (Call 02/01/22)^(a)(b)		33,996		35,940,571
6.75%, 06/15/23^(a)		41,784		44,286,210
7.00%, 08/01/25 (Call 08/01/20)^(a)		10,726		11,088,003
8.13%, 04/01/22		63,394		68,560,611
WellCare Health Plans Inc.
5.25%, 04/01/25 (Call 04/01/20)^(a)		27,642		28,963,633
5.38%, 08/15/26 (Call 08/15/21)^(b)		16,688		17,806,144

				1,287,944,621

Holding Companies – Diversified — 0.6%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.75%, 09/15/24 (Call 06/15/24)^(a)(b)		12,381		12,544,555
5.88%, 02/01/22 (Call 02/01/20)^(a)		25,644		25,885,615
6.25%, 02/01/22 (Call 02/01/20)		24,801		25,424,413
6.25%, 05/15/26 (Call 05/15/22)^(a)		26,428		28,033,105
6.38%, 12/15/25 (Call 12/15/20)		16,615		17,505,208
6.75%, 02/01/24 (Call 02/01/20)^(a)		11,737		12,227,479

				121,620,375

Home Builders — 1.5%
Beazer Homes USA Inc., 5.88%, 10/15/27 (Call 10/15/22)^(a)		5,124		5,021,520
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp.
6.13%, 07/01/22 (Call 07/01/20)^(a)(b)		10,771		10,959,493
6.25%, 09/15/27 (Call 09/15/22)^(a)(b)		14,302		14,596,979
K Hovnanian Enterprises Inc.
10.00%, 07/15/22 (Call 07/15/20)^(b)		6,928		5,963,853
10.50%, 07/15/24 (Call 07/15/20)^(a)(b)		7,211		5,695,000
KB Home, 7.00%, 12/15/21 (Call 09/15/21)		10,190		10,989,915
Lennar Corp.
4.13%, 01/15/22 (Call 10/15/21)^(a)		12,416		12,757,440
4.50%, 04/30/24 (Call 01/30/24)		13,251		14,033,148
4.75%, 04/01/21 (Call 02/01/21)		9,957		10,218,869
4.75%, 11/15/22 (Call 08/15/22)		11,695		12,315,434
4.75%, 05/30/25 (Call 02/28/25)^(a)		11,727		12,599,818
4.75%, 11/29/27 (Call 05/29/27)		21,336		23,065,993
4.88%, 12/15/23 (Call 09/15/23)		6,794		7,271,851
5.88%, 11/15/24 (Call 05/15/24)^(a)		8,986		10,041,855
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)^(a)		8,121		9,144,754
PulteGroup Inc.
4.25%, 03/01/21 (Call 02/01/21)		7,212		7,369,763
5.00%, 01/15/27 (Call 10/15/26)^(a)		15,250		16,664,437
5.50%, 03/01/26 (Call 12/01/25)		14,167		15,878,374
Taylor Morrison Communities Inc.
5.75%, 01/15/28 (Call 10/15/27)^(b)		10,175		11,277,933
5.88%, 06/15/27 (Call 03/15/27)^(a)(b)		9,833		10,988,377
Toll Brothers Finance Corp.
3.80%, 11/01/29 (Call 08/01/29)^(a)		10,405		10,224,809
4.35%, 02/15/28 (Call 11/15/27)^(a)		8,493		8,830,066
4.38%, 04/15/23 (Call 01/15/23)		7,369		7,731,358
4.88%, 03/15/27 (Call 12/15/26)^(a)		8,799		9,569,423
5.88%, 02/15/22 (Call 11/15/21)^(a)		7,872		8,373,840


Security	Par (000)		Value

Home Builders (continued)
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24	$	8,745	$	9,423,193
William Lyon Homes Inc., 5.88%, 01/31/25 (Call 01/31/20)^(a)		10,093		10,296,262

				291,303,757

Home Furnishings — 0.1%
Tempur Sealy International Inc.
5.50%, 06/15/26 (Call 06/15/21)		13,014		13,593,340
5.63%, 10/15/23 (Call 10/15/20)^(a)		7,873		8,106,730

				21,700,070

Household Products & Wares — 0.2%
Prestige Brands Inc.
5.38%, 12/15/21 (Call 12/15/19)^(a)(b)		6,644		6,656,735
6.38%, 03/01/24 (Call 03/01/20)^(a)(b)		12,418		12,961,287
Spectrum Brands Inc., 5.75%, 07/15/25 (Call 07/15/20)^(a)		24,387		25,463,774

				45,081,796

Insurance — 0.5%
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 11/15/20)^(a)(b)		21,312		19,543,185
8.13%, 02/15/24 (Call 02/15/21)^(b)		19,566		20,758,548
10.13%, 08/01/26 (Call 08/01/22)^(b)		9,105		9,423,675
Genworth Holdings Inc., 7.63%, 09/24/21		17,567		18,185,504
HUB International Ltd., 7.00%, 05/01/26 (Call 05/01/21)^(b)		30,436		31,413,376

				99,324,288

Internet — 2.5%
Match Group Inc.
5.00%, 12/15/27 (Call 12/15/22)^(a)(b)		8,575		8,943,526
6.38%, 06/01/24 (Call 06/01/20)^(a)		7,046		7,418,903
Netflix Inc.
4.38%, 11/15/26^(a)		22,991		23,417,849
4.88%, 04/15/28		36,451		37,664,454
4.88%, 06/15/30 (Call 03/15/30)^(a)(b)		20,158		20,392,968
5.38%, 02/01/21^(a)		8,783		9,072,107
5.38%, 11/15/29^(a)(b)		19,807		20,873,948
5.50%, 02/15/22^(a)		12,790		13,556,979
5.75%, 03/01/24^(a)		9,235		10,171,544
5.88%, 02/15/25		18,153		20,027,864
5.88%, 11/15/28^(a)		41,378		45,520,972
6.38%, 05/15/29^(a)(b)		17,441		19,568,619
Symantec Corp.
3.95%, 06/15/22 (Call 03/15/22)^(a)		6,863		7,049,674
4.20%, 09/15/20^(a)		3,115		3,159,794
5.00%, 04/15/25 (Call 04/15/20)^(a)(b)		26,811		27,419,497
Uber Technologies Inc.
7.50%, 11/01/23 (Call 11/01/20)^(a)(b)		11,381		11,611,465
7.50%, 09/15/27 (Call 09/15/22)^(b)		27,758		27,480,420
8.00%, 11/01/26 (Call 11/01/21)^(a)(b)		33,383		33,466,457
VeriSign Inc.
4.63%, 05/01/23 (Call 05/01/20)		14,104		14,358,577
4.75%, 07/15/27 (Call 07/15/22)^(a)		10,807		11,428,403
5.25%, 04/01/25 (Call 01/01/25)^(a)		9,636		10,573,736
Zayo Group LLC/Zayo Capital Inc.
5.75%, 01/15/27 (Call 01/15/22)^(a)(b)		38,195		38,892,059
6.00%, 04/01/23 (Call 04/01/20)		31,514		32,412,464
6.38%, 05/15/25 (Call 05/15/20)^(a)		19,756		20,303,735

				474,786,014


Security	Par (000)		Value

Iron & Steel — 0.6%
AK Steel Corp., 7.63%, 10/01/21 (Call 12/02/19)	$	10,670	$	10,465,349
Allegheny Technologies Inc.
5.95%, 01/15/21 (Call 10/15/20)		8,474		8,715,357
7.88%, 08/15/23 (Call 05/15/23)^(a)		12,693		13,855,044
Cleveland-Cliffs Inc.
4.88%, 01/15/24 (Call 01/15/21)^(b)		8,304		8,571,757
5.75%, 03/01/25 (Call 03/01/20)^(a)		11,413		11,303,863
5.88%, 06/01/27 (Call 06/01/22)^(a)(b)		16,166		15,404,177
Steel Dynamics Inc.
5.00%, 12/15/26 (Call 12/15/21)^(a)		8,290		8,830,508
5.13%, 10/01/21 (Call 12/02/19)^(a)		4,459		4,474,607
5.25%, 04/15/23 (Call 04/15/20)		9,265		9,447,405
5.50%, 10/01/24 (Call 10/01/20)		4,056		4,176,260
U.S. Steel Corp.
6.25%, 03/15/26 (Call 03/15/21)^(a)		15,401		12,943,154
6.88%, 08/15/25 (Call 08/15/20)^(a)		16,567		14,972,758

				123,160,239

Leisure Time — 0.3%
Sabre GLBL Inc.
5.25%, 11/15/23 (Call 11/15/19)^(b)		9,870		10,116,750
5.38%, 04/15/23 (Call 04/15/20)^(b)		9,216		9,457,920
Viking Cruises Ltd., 5.88%, 09/15/27 (Call 09/15/22)^(b)		21,333		22,671,646
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)(b)		13,905		14,487,272

				56,733,588

Lodging — 2.3%
Boyd Gaming Corp.
6.00%, 08/15/26 (Call 08/15/21)^(a)		14,936		15,860,774
6.38%, 04/01/26 (Call 04/01/21)^(a)		16,513		17,564,482
6.88%, 05/15/23 (Call 05/15/20)		13,728		14,225,640
Diamond Resorts International Inc.
7.75%, 09/01/23 (Call 09/01/20)^(a)(b)		11,081		11,466,508
10.75%, 09/01/24 (Call 09/01/20)^(a)(b)		13,588		14,076,319
Hilton Domestic Operating Co. Inc.
4.25%, 09/01/24 (Call 09/01/20)^(a)		20,327		20,704,265
4.88%, 01/15/30 (Call 01/15/25)^(a)(b)		23,243		24,664,212
5.13%, 05/01/26 (Call 05/01/21)^(a)		31,739		33,392,697
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
4.63%, 04/01/25 (Call 04/01/20)^(a)		18,761		19,322,798
4.88%, 04/01/27 (Call 04/01/22)^(a)		10,686		11,300,231
Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.75%, 11/15/21 (Call 11/15/19)^(b)		14,821		15,157,841
Marriott Ownership Resorts Inc./ILG LLC, 6.50%, 09/15/26 (Call 09/15/21)		584		629,978
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)^(a)		10,173		10,678,683
5.50%, 04/15/27 (Call 01/15/27)^(a)		23,532		25,890,102
5.75%, 06/15/25 (Call 03/15/25)^(a)		22,916		25,436,760
6.00%, 03/15/23^(a)		27,513		30,389,484
6.63%, 12/15/21		22,999		24,953,915
7.75%, 03/15/22		18,275		20,466,573
Wyndham Destinations Inc.
3.90%, 03/01/23 (Call 12/01/22)		7,125		7,203,877
4.25%, 03/01/22 (Call 12/01/21)^(a)		12,749		13,035,853
5.75%, 04/01/27 (Call 01/01/27)^(a)		8,425		9,226,253
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(a)(b)		8,657		8,965,694
5.25%, 05/15/27 (Call 02/15/27)^(a)(b)		19,410		20,244,781


Security	Par (000)		Value

Lodging (continued)
5.50%, 03/01/25 (Call 12/01/24)^(a)(b)	$	39,429	$	41,854,980

				436,712,700

Machinery — 0.1%
Vertiv Group Corp., 9.25%, 10/15/24 (Call 10/15/20)^(b)		17,527		16,519,197


Manufacturing — 0.0%
Foxtrot Escrow Issuer LLC/Foxtrot Escrow Corp., 12.25%, 11/15/26 (Call 11/15/22)^(b)		7,317		7,354,317


Media — 11.9%
Altice Financing SA
6.63%, 02/15/23 (Call 02/15/20)^(a)(b)		44,587		45,799,766
7.50%, 05/15/26 (Call 05/15/21)^(b)		63,033		67,110,447
Altice Finco SA, 8.13%, 01/15/24 (Call 12/15/19)^(b)		9,013		9,297,802
Altice Luxembourg SA
7.63%, 02/15/25 (Call 02/15/20)^(a)(b)		33,763		34,860,297
10.50%, 05/15/27 (Call 05/15/22)^(a)(b)		36,568		41,367,550
AMC Networks Inc.
4.75%, 12/15/22 (Call 12/15/19)		12,244		12,352,486
4.75%, 08/01/25 (Call 08/01/21)^(a)		17,781		17,958,810
5.00%, 04/01/24 (Call 04/01/20)^(a)		23,025		23,413,250
Cablevision Systems Corp., 5.88%, 09/15/22^(a)		12,888		13,898,585
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 11/01/19)^(a)(b)		10,229		10,408,008
4.75%, 03/01/30 (Call 09/01/24)^(a)(b)		33,448		34,078,772
5.00%, 02/01/28 (Call 08/01/22)^(a)(b)		56,578		59,167,858
5.13%, 02/15/23 (Call 02/15/20)^(a)		19,322		19,663,586
5.13%, 05/01/23 (Call 05/01/20)^(b)		23,297		23,847,503
5.13%, 05/01/27 (Call 05/01/22)^(a)(b)		68,571		72,256,691
5.25%, 09/30/22 (Call 09/30/20)^(a)		23,463		23,756,288
5.38%, 05/01/25 (Call 05/01/20)^(a)(b)		17,174		17,825,736
5.38%, 06/01/29 (Call 06/01/24)^(a)(b)		32,416		34,563,560
5.50%, 05/01/26 (Call 05/01/21)^(a)(b)		30,488		32,164,840
5.75%, 09/01/23 (Call 03/01/20)^(a)		9,502		9,699,299
5.75%, 01/15/24 (Call 07/15/20)		2,276		2,332,217
5.75%, 02/15/26 (Call 02/15/21)^(a)(b)		52,031		55,030,696
5.88%, 04/01/24 (Call 04/01/20)^(b)		36,458		38,007,465
5.88%, 05/01/27 (Call 05/01/21)^(a)(b)		16,091		17,073,627
Clear Channel Worldwide Holdings Inc.
5.13%, 08/15/27 (Call 08/15/22)^(a)(b)		10,499		10,941,848
9.25%, 02/15/24 (Call 02/15/21)^(a)(b)		44,290		48,708,999
CSC Holdings LLC
5.25%, 06/01/24^(a)		15,726		16,963,331
5.38%, 07/15/23 (Call 07/15/20)^(a)(b)		21,340		21,899,748
5.38%, 02/01/28 (Call 02/01/23)^(b)		22,432		23,728,991
5.50%, 05/15/26 (Call 05/15/21)^(a)(b)		30,227		31,926,389
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		28,479		30,272,630
5.75%, 01/15/30 (Call 01/15/25)^(b)		49,994		52,557,692
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		37,354		41,813,134
6.63%, 10/15/25 (Call 10/15/20)^(a)(b)		21,441		22,834,665
6.75%, 11/15/21^(a)		20,248		21,817,220
7.50%, 04/01/28 (Call 04/01/23)^(b)		22,189		25,045,834
7.75%, 07/15/25 (Call 07/15/20)^(b)		12,408		13,308,011
10.88%, 10/15/25 (Call 10/15/20)^(a)(b)		35,175		39,693,580
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.38%, 08/15/26 (Call 08/15/22)^(a)(b)		70,229		73,389,305
6.63%, 08/15/27 (Call 08/15/22)^(a)(b)		40,834		42,110,062
DISH DBS Corp. 5.00%, 03/15/23^(a)		34,121		34,184,977


Security	Par (000)		Value

Media (continued)
5.88%, 07/15/22^(a)	$	44,733	$	46,754,261
5.88%, 11/15/24^(a)		44,854		44,897,010
6.75%, 06/01/21		43,490		45,718,862
7.75%, 07/01/26^(a)		45,775		46,294,546
Gray Television Inc.
5.13%, 10/15/24 (Call 10/15/20)^(a)(b)		11,118		11,519,777
5.88%, 07/15/26 (Call 07/15/21)^(a)(b)		15,536		16,332,531
7.00%, 05/15/27 (Call 05/15/22)^(a)(b)		18,793		20,531,353
iHeartCommunications Inc.
5.25%, 08/15/27 (Call 08/15/22)^(b)		15,381		15,878,191
6.38%, 05/01/26 (Call 05/01/22)^(a)		17,521		18,820,795
8.38%, 05/01/27 (Call 05/01/22)^(a)		34,960		37,464,010
LCPR Senior Secured Financing DAC, 6.75%, 10/15/27 (Call 10/15/22)^(b)		11,353		11,634,668
Meredith Corp., 6.88%, 02/01/26 (Call 02/01/21)^(a)		30,382		31,428,918
Nexstar Broadcasting Inc.
5.63%, 08/01/24 (Call 08/01/20)^(a)(b)		18,949		19,778,019
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		26,439		27,951,311
5.88%, 11/15/22 (Call 11/15/19)		7,889		8,043,904
Quebecor Media Inc., 5.75%, 01/15/23^(a)		17,473		18,900,908
Sinclair Television Group Inc.
5.13%, 02/15/27 (Call 08/15/21)^(a)(b)		7,905		8,003,813
5.63%, 08/01/24 (Call 08/01/20)^(a)(b)		11,369		11,708,976
6.13%, 10/01/22 (Call 10/01/20)^(a)		8,614		8,726,520
Sirius XM Radio Inc.
3.88%, 08/01/22 (Call 08/01/20)^(b)		20,722		21,145,075
4.63%, 05/15/23 (Call 05/15/20)^(a)(b)		9,898		10,059,647
4.63%, 07/15/24 (Call 07/15/21)^(b)		31,340		32,798,877
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		35,393		37,262,635
5.38%, 04/15/25 (Call 04/15/20)^(b)		22,075		22,942,581
5.38%, 07/15/26 (Call 07/15/21)^(a)(b)		21,225		22,445,438
5.50%, 07/01/29 (Call 07/01/24)^(a)(b)		29,176		31,592,502
TEGNA Inc.
5.00%, 09/15/29 (Call 09/15/24)^(b)		25,808		26,168,022
6.38%, 10/15/23 (Call 10/15/20)^(a)		11,226		11,573,725
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)^(b)		20,600		21,769,050
Univision Communications Inc.
5.13%, 05/15/23 (Call 05/15/20)^(a)(b)		27,155		27,217,378
5.13%, 02/15/25 (Call 02/15/20)^(a)(b)		33,655		32,891,348
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(b)		12,214		12,477,443
UPCB Finance IV Ltd., 5.38%, 01/15/25 (Call 01/15/20)^(a)(b)		24,691		25,462,594
Viacom Inc.
5.88%, 02/28/57 (Call 02/28/22)^(a)(c)		13,351		13,894,776
6.25%, 02/28/57 (Call 02/28/27)^(a)(c)		13,573		14,801,357
Videotron Ltd.
5.00%, 07/15/22		14,305		15,091,775
5.13%, 04/15/27 (Call 04/15/22)^(a)(b)		13,272		13,976,743
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		13,446		14,605,718
Virgin Media Finance PLC, 6.00%, 10/15/24 (Call 10/15/20)^(a)(b)		9,653		9,954,656
Virgin Media Secured Finance PLC
5.50%, 08/15/26 (Call 08/15/21)^(a)(b)		14,802		15,616,135
5.50%, 05/15/29 (Call 05/15/24)^(a)(b)		30,385		32,208,100
Ziggo Bond Co. BV
5.88%, 01/15/25 (Call 01/15/20)^(a)(b)		8,027		8,287,869
6.00%, 01/15/27 (Call 01/15/22)^(b)		14,863		15,574,581


Security	Par (000)		Value

Media (continued)
Ziggo BV
4.88%, 01/15/30 (Call 10/15/24)^(a)(b)	$	11,169	$	11,368,478
5.50%, 01/15/27 (Call 01/15/22)^(a)(b)		44,284		46,655,993

				2,265,362,424

Mining — 1.7%
Alcoa Nederland Holding BV
6.13%, 05/15/28 (Call 05/15/23)^(a)(b)		10,543		11,368,868
6.75%, 09/30/24 (Call 09/30/20)^(a)(b)		14,089		14,849,806
7.00%, 09/30/26 (Call 09/30/21)^(b)		10,260		11,159,467
Constellium SE
5.75%, 05/15/24 (Call 05/15/20)^(b)		8,514		8,758,778
5.88%, 02/15/26 (Call 11/15/20)^(a)(b)		10,523		10,970,228
6.63%, 03/01/25 (Call 03/01/20)^(a)(b)		13,108		13,718,177
FMG Resources August 2006 Pty Ltd.
4.50%, 09/15/27 (Call 06/15/27)^(a)(b)		14,767		14,610,101
4.75%, 05/15/22 (Call 02/15/22)^(a)(b)		15,703		16,232,976
5.13%, 03/15/23 (Call 12/15/22)^(a)(b)		9,425		9,837,351
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		14,873		15,616,650
Freeport-McMoRan Inc.
3.55%, 03/01/22 (Call 12/01/21)^(a)		41,854		42,111,402
3.88%, 03/15/23 (Call 12/15/22)^(a)		41,923		42,633,381
4.55%, 11/14/24 (Call 08/14/24)^(a)		18,759		19,462,462
5.00%, 09/01/27 (Call 09/01/22)^(a)		14,407		14,681,600
5.25%, 09/01/29 (Call 09/01/24)^(a)		13,932		14,162,575
Novelis Corp.
5.88%, 09/30/26 (Call 09/30/21)^(a)(b)		35,897		37,785,182
6.25%, 08/15/24 (Call 08/15/20)^(a)(b)		25,258		26,518,248

				324,477,252

Office & Business Equipment — 0.7%
CDW LLC/CDW Finance Corp.
4.25%, 04/01/28 (Call 10/01/22)		11,562		11,980,515
5.00%, 09/01/25 (Call 03/01/20)^(a)		11,754		12,282,130
5.50%, 12/01/24 (Call 06/01/24)^(a)		11,733		13,058,676
Pitney Bowes Inc.
4.13%, 10/01/21 (Call 09/01/21)		12,463		12,552,734
4.38%, 05/15/22 (Call 04/15/22)		8,564		8,564,976
4.63%, 03/15/24 (Call 12/15/23)^(a)		11,359		10,704,722
5.20%, 04/01/23 (Call 03/01/23)		8,724		8,609,498
Xerox Corp.
4.13%, 03/15/23 (Call 02/15/23)^(a)		21,668		22,158,130
4.50%, 05/15/21^(a)		23,696		24,303,210

				124,214,591

Oil & Gas — 6.9%
Aker BP ASA
4.75%, 06/15/24 (Call 06/15/21)^(b)		18,990		19,749,600
5.88%, 03/31/25 (Call 03/31/21)^(a)(b)		6,080		6,407,350
6.00%, 07/01/22 (Call 07/01/20)^(a)(b)		3,257		3,360,817
American Energy- Permian Basin LLC, 12.00%, 10/01/24 (Call 10/01/21)^(b)		4,911		3,480,671
Antero Resources Corp.
5.00%, 03/01/25 (Call 03/01/20)^(a)		12,337		8,173,263
5.13%, 12/01/22 (Call 06/01/20)		26,462		19,879,577
5.38%, 11/01/21 (Call 11/01/19)^(a)		24,191		21,590,467
5.63%, 06/01/23 (Call 06/01/20)^(a)		14,655		10,393,143
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.00%, 11/01/26 (Call 11/01/21)^(b)		13,310		10,049,050
10.00%, 04/01/22 (Call 04/01/20)^(b)		23,582		22,284,990


Security	Par (000)		Value

Oil & Gas (continued)
California Resources Corp., 8.00%, 12/15/22 (Call 12/15/19)^(a)(b)	$	38,788	$	11,733,370
Callon Petroleum Co.
6.13%, 10/01/24 (Call 10/01/20)^(a)		12,260		11,648,456
6.38%, 07/01/26 (Call 07/01/21)^(a)		10,268		9,472,230
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 10/15/21)^(a)(b)		9,269		9,245,828
Chesapeake Energy Corp.
7.00%, 10/01/24 (Call 04/01/21)		17,141		11,562,141
7.50%, 10/01/26 (Call 10/01/21)		6,152		3,809,434
8.00%, 01/15/25 (Call 01/15/20)		3,943		2,602,380
8.00%, 03/15/26 (Call 03/15/22)^(b)		17,031		10,676,308
8.00%, 06/15/27 (Call 06/15/22)^(a)		3,520		2,200,000
Citgo Holding Inc., 9.25%, 08/01/24 (Call 08/01/21)^(b)		29,130		30,418,094
CNX Resources Corp.
5.88%, 04/15/22 (Call 04/15/20)		19,633		19,246,946
7.25%, 03/14/27 (Call 03/14/22)^(a)(b)		12,176		9,801,680
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 10/15/20)^(b)		27,943		27,180,388
Denbury Resources Inc.
7.75%, 02/15/24 (Call 08/15/20)^(b)		9,729		7,150,815
9.00%, 05/15/21 (Call 12/15/19)^(a)(b)		14,817		12,733,359
9.25%, 03/31/22 (Call 03/31/20)^(b)		10,266		8,418,120
Diamond Offshore Drilling Inc., 7.88%, 08/15/25 (Call 05/15/25)^(a)		11,249		8,992,169
Diamondback Energy Inc.
4.75%, 11/01/24 (Call 11/01/19)^(a)		27,540		28,469,475
5.38%, 05/31/25 (Call 05/31/20)^(a)		16,612		17,359,540
Endeavor Energy Resources LP/EER Finance Inc.
5.50%, 01/30/26 (Call 01/30/21)^(a)(b)		11,389		11,757,222
5.75%, 01/30/28 (Call 01/30/23)^(b)		10,017		10,580,995
Extraction Oil & Gas Inc.
5.63%, 02/01/26 (Call 02/01/21)^(b)		16,190		6,880,750
7.38%, 05/15/24 (Call 05/15/20)^(a)(b)		8,717		3,682,723
Gulfport Energy Corp.
6.00%, 10/15/24 (Call 10/15/20)		15,970		10,174,220
6.38%, 05/15/25 (Call 05/15/20)^(a)		14,438		8,771,085
6.38%, 01/15/26 (Call 01/15/21)		8,286		4,971,600
Hilcorp Energy I LP/Hilcorp Finance Co.
5.00%, 12/01/24 (Call 06/01/20)^(a)(b)		10,038		8,936,831
5.75%, 10/01/25 (Call 04/01/20)^(b)		11,255		9,913,779
6.25%, 11/01/28 (Call 11/01/23)^(a)(b)		14,979		13,293,863
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21)^(a)		24,432		23,454,720
MEG Energy Corp.
6.38%, 01/30/23 (Call 07/30/20)^(b)		18,566		17,676,421
6.50%, 01/15/25 (Call 01/15/20)^(b)		17,922		18,618,345
7.00%, 03/31/24 (Call 09/30/20)^(a)(b)		23,109		21,738,313
Moss Creek Resources Holdings Inc.
7.50%, 01/15/26 (Call 01/15/21)^(a)(b)		14,950		10,218,325
10.50%, 05/15/27 (Call 05/15/22)^(b)		12,511		9,620,437
Murphy Oil Corp.
4.00%, 06/01/22 (Call 03/01/22)^(a)		10,086		10,189,618
4.20%, 12/01/22 (Call 09/01/22)^(a)		11,547		11,780,345
5.75%, 08/15/25 (Call 08/18/20)^(a)		13,221		13,465,265
6.88%, 08/15/24 (Call 08/15/20)^(a)		11,646		12,321,992
Nabors Industries Inc.
4.63%, 09/15/21^(a)		14,608		13,473,543
5.00%, 09/15/20^(a)		2,094		2,083,530


Security	Par (000)		Value

Oil & Gas (continued)
5.50%, 01/15/23 (Call 11/15/22)^(a)	$	13,849	$	11,582,957
5.75%, 02/01/25 (Call 11/01/24)^(a)		17,626		13,099,379
Noble Holding International Ltd.
7.88%, 02/01/26 (Call 02/01/21)^(b)		17,240		11,434,430
7.95%, 04/01/25 (Call 01/01/25)^(a)		9,363		5,293,346
Oasis Petroleum Inc.
6.25%, 05/01/26 (Call 05/01/21)^(a)(b)		8,892		6,024,330
6.88%, 03/15/22 (Call 12/02/19)		21,537		18,898,717
Pacific Drilling SA, 8.38%, 10/01/23 (Call 09/01/20)^(a)(b)		17,319		13,844,376
Parkland Fuel Corp.
5.88%, 07/15/27 (Call 07/15/22)^(a)(b)		10,509		11,155,461
6.00%, 04/01/26 (Call 04/01/21)^(a)(b)		9,716		10,288,353
Parsley Energy LLC/Parsley Finance Corp.
5.25%, 08/15/25 (Call 08/15/20)^(a)(b)		9,999		10,202,957
5.38%, 01/15/25 (Call 01/15/20)^(a)(b)		14,345		14,700,423
5.63%, 10/15/27 (Call 10/15/22)^(a)(b)		14,659		15,150,195
6.25%, 06/01/24 (Call 06/01/20)^(a)(b)		8,376		8,721,510
PBF Holding Co. LLC/PBF Finance Corp.
7.00%, 11/15/23 (Call 11/15/19)^(a)		9,892		10,238,220
7.25%, 06/15/25 (Call 06/15/20)^(a)		16,660		17,470,092
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/15/21)^(a)		14,310		13,199,401
6.13%, 09/15/24 (Call 09/15/20)^(a)		8,103		7,864,974
Puma International Financing SA
5.00%, 01/24/26 (Call 01/24/21)^(b)		10,170		9,745,487
5.13%, 10/06/24 (Call 10/06/20)^(b)		9,356		9,189,497
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)^(a)		14,951		14,190,957
5.38%, 10/01/22 (Call 07/01/22)^(a)		10,319		10,005,560
5.63%, 03/01/26 (Call 12/01/25)^(a)		10,199		9,179,100
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)^(a)		15,332		12,323,095
5.00%, 08/15/22 (Call 05/15/22)^(a)		13,761		12,754,727
5.00%, 03/15/23 (Call 12/15/22)^(a)		18,666		16,087,292
5.75%, 06/01/21 (Call 03/01/21)^(a)		10,185		10,093,760
Rowan Companies Inc., 4.88%, 06/01/22 (Call 03/01/22)^(a)		13,991		9,373,970
Seven Generations Energy Ltd.
5.38%, 09/30/25 (Call 09/30/20)^(b)		15,869		15,380,533
6.75%, 05/01/23 (Call 05/01/20)^(a)(b)		8,751		8,887,051
6.88%, 06/30/23 (Call 06/30/20)^(a)(b)		8,806		8,963,468
SM Energy Co.
5.00%, 01/15/24 (Call 07/15/20)^(a)		9,480		8,256,488
5.63%, 06/01/25 (Call 06/01/20)^(a)		9,628		8,183,993
6.13%, 11/15/22 (Call 11/15/19)^(a)		10,479		9,981,248
6.63%, 01/15/27 (Call 01/15/22)^(a)		13,071		11,001,425
6.75%, 09/15/26 (Call 09/15/21)^(a)		11,449		9,729,862
Southwestern Energy Co.
6.20%, 01/23/25 (Call 10/23/24)^(a)		19,406		16,875,458
7.50%, 04/01/26 (Call 04/01/21)		18,059		15,622,119
7.75%, 10/01/27 (Call 10/01/22)^(a)		9,079		7,807,940
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23 (Call 01/15/20)		22,664		23,258,930
5.50%, 02/15/26 (Call 02/15/21)^(a)		17,622		18,296,218
5.88%, 03/15/28 (Call 03/15/23)^(a)		8,550		9,019,988
6.00%, 04/15/27 (Call 04/15/22)		13,898		14,731,787
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)^(b)		11,784		11,813,059
Transocean Inc.
7.25%, 11/01/25 (Call 11/01/21)^(b)		16,542		14,598,315


Security	Par (000)		Value

Oil & Gas (continued)
7.50%, 01/15/26 (Call 01/15/21)^(a)(b)	$	17,557	$	15,501,369
9.00%, 07/15/23 (Call 07/15/20)^(a)(b)		25,434		25,672,444
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)^(a)(b)		9,499		9,442,594
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)^(b)		12,179		12,310,168
Transocean Sentry Ltd., 5.38%, 05/15/23 (Call 05/16/21)^(a)(b)		9,952		9,861,465
Valaris PLC, 7.75%, 02/01/26 (Call 11/01/25)^(a)		20,725		10,880,625
Whiting Petroleum Corp.
5.75%, 03/15/21 (Call 12/15/20)^(a)		17,952		16,874,880
6.25%, 04/01/23 (Call 01/01/23)		11,560		8,381,000
6.63%, 01/15/26 (Call 10/15/25)^(a)		21,296		13,203,094
WPX Energy Inc.
5.25%, 09/15/24 (Call 06/15/24)^(a)		14,157		14,298,570
5.25%, 10/15/27 (Call 09/30/22)^(a)		16,039		15,597,927
5.75%, 06/01/26 (Call 06/01/21)^(a)		12,287		12,404,293
8.25%, 08/01/23 (Call 06/01/23)		5,009		5,585,035

				1,316,227,495

Oil & Gas Services — 0.4%
KCA Deutag UK Finance PLC
9.63%, 04/01/23 (Call 04/01/20)^(a)(b)		7,623		4,837,191
9.88%, 04/01/22 (Call 04/01/20)^(a)(b)		10,424		6,591,226
SESI LLC
7.13%, 12/15/21 (Call 12/15/19)^(a)		13,444		10,234,245
7.75%, 09/15/24 (Call 09/15/20)		10,196		5,669,401
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 10/15/20)^(b)		5,757		5,944,619
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 12/01/20)^(b)		7,516		7,551,136
USA Compression Partners LP/USA Compression Finance Corp.
6.88%, 04/01/26 (Call 04/01/21)^(a)		14,850		14,886,552
6.88%, 09/01/27 (Call 09/01/22)^(a)(b)		18,018		18,130,612

				73,844,982

Packaging & Containers — 3.5%
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.13%, 08/15/26 (Call 08/15/22)^(a)(b)		10,416		10,554,619
4.25%, 09/15/22 (Call 03/15/20)^(b)		15,559		15,792,385
4.63%, 05/15/23 (Call 05/15/20)^(b)		21,066		21,555,127
5.25%, 08/15/27 (Call 08/15/22)^(b)		18,114		18,475,918
6.00%, 02/15/25 (Call 02/15/20)^(b)		35,921		37,711,518
Ball Corp.
4.00%, 11/15/23^(a)		20,414		21,377,286
4.38%, 12/15/20^(a)		18,054		18,403,796
4.88%, 03/15/26 (Call 12/15/25)^(a)		16,907		18,365,229
5.00%, 03/15/22^(a)		16,477		17,424,427
5.25%, 07/01/25		21,479		23,895,387
Berry Global Inc.
4.50%, 02/15/26 (Call 02/15/21)^(a)(b)		12,456		12,494,925
4.88%, 07/15/26 (Call 07/15/22)^(b)		26,722		28,100,577
5.13%, 07/15/23 (Call 07/15/20)^(a)		16,916		17,338,900
5.50%, 05/15/22 (Call 05/15/20)^(a)		11,240		11,420,627
5.63%, 07/15/27 (Call 07/15/22)^(a)(b)		11,055		11,709,594
6.00%, 10/15/22 (Call 10/15/20)^(a)		6,830		6,953,082
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23		21,143		22,133,784


Security	Par (000)		Value

Packaging & Containers (continued)
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)^(a)	$	8,754	$	9,130,422
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/21)^(a)		19,722		20,681,870
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 01/15/20)^(a)(b)		14,075		13,299,116
7.88%, 07/15/26 (Call 07/15/21)^(a)(b)		10,918		10,322,060
Graphic Packaging International LLC, 4.75%, 04/15/21 (Call 01/15/21)^(a)		234		240,611
LABL Escrow Issuer LLC
6.75%, 07/15/26 (Call 07/15/22)^(b)		15,946		16,584,990
10.50%, 07/15/27 (Call 07/15/22)^(a)(b)		15,744		15,853,060
Mauser Packaging Solutions Holding Co.
5.50%, 04/15/24 (Call 04/15/20)^(a)(b)		32,217		33,145,352
7.25%, 04/15/25 (Call 04/15/20)^(a)(b)		31,482		30,104,662
Owens-Brockway Glass Container Inc.
5.00%, 01/15/22^(a)(b)		9,611		9,923,358
5.88%, 08/15/23^(a)(b)		15,386		16,251,463
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.13%, 07/15/23 (Call 07/15/20)^(b)		37,850		38,831,852
5.75%, 10/15/20 (Call 12/02/19)		27,400		27,494,111
7.00%, 07/15/24 (Call 07/15/20)^(b)		20,940		21,682,061
Sealed Air Corp.
4.88%, 12/01/22 (Call 09/01/22)^(a)(b)		8,755		9,236,525
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		9,193		9,890,807
5.25%, 04/01/23 (Call 01/01/23)^(a)(b)		7,908		8,462,874
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		8,246		8,974,182
6.50%, 12/01/20 (Call 09/01/20)^(a)(b)		7,057		7,293,602
Trivium Packaging Finance BV
5.50%, 08/15/26 (Call 08/15/22)^(a)(b)		24,667		25,838,682
8.50%, 08/15/27 (Call 08/15/22)^(a)(b)		15,433		16,455,436

				663,404,277

Pharmaceuticals — 4.0%
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 01/17/22)^(a)(b)		37,681		42,408,865
9.25%, 04/01/26 (Call 04/01/22)^(a)(b)		32,631		37,063,549
Bausch Health Companies Inc.
5.50%, 03/01/23 (Call 03/01/20)^(a)(b)		8,656		8,744,927
5.50%, 11/01/25 (Call 11/01/20)^(b)		38,659		40,392,771
5.75%, 08/15/27 (Call 08/15/22)^(a)(b)		10,674		11,611,311
5.88%, 05/15/23 (Call 05/15/20)^(b)		29,585		30,028,775
6.13%, 04/15/25 (Call 04/15/20)^(a)(b)		70,738		73,655,943
6.50%, 03/15/22 (Call 03/15/20)^(b)		26,586		27,317,115
7.00%, 03/15/24 (Call 03/15/20)^(b)		41,504		43,472,327
7.00%, 01/15/28 (Call 01/15/23)^(a)(b)		16,544		17,884,208
7.25%, 05/30/29 (Call 05/30/24)^(a)(b)		17,654		19,473,465
9.00%, 12/15/25 (Call 12/15/21)^(a)(b)		35,175		39,578,910
Elanco Animal Health Inc.
3.91%, 08/27/21		7,511		7,707,753
4.27%, 08/28/23 (Call 07/28/23)^(a)		16,397		17,165,464
4.90%, 08/28/28 (Call 05/28/28)^(a)		16,702		18,152,565
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 07/15/23 (Call 07/15/20)^(a)(b)		31,357		20,695,620
6.00%, 02/01/25 (Call 02/01/20)^(a)(b)		25,717		15,960,613
Mallinckrodt International Finance SA, 4.75%, 04/15/23^(a)		6,691		2,077,105
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.50%, 04/15/25 (Call 04/15/20)^(a)(b)		12,067		3,959,484


Security	Par (000)		Value

Pharmaceuticals (continued)
5.63%, 10/15/23 (Call 10/15/20)^(a)(b)	$	13,738	$	4,739,610
5.75%, 08/01/22 (Call 08/01/20)^(b)		13,882		5,486,861
Par Pharmaceutical Inc., 7.50%, 04/01/27 (Call 04/01/22)^(a)(b)		33,889		32,309,952
Teva Pharmaceutical Finance Netherlands III BV
2.20%, 07/21/21^(a)		67,260		63,914,037
2.80%, 07/21/23^(a)		68,175		58,886,156
3.15%, 10/01/26^(a)		80,254		60,792,405
6.00%, 04/15/24 (Call 01/15/24)^(a)		27,284		25,612,855
6.75%, 03/01/28 (Call 12/01/27)^(a)		27,676		24,865,965

				753,958,611

Pipelines — 3.5%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 09/15/24 (Call 09/15/20)^(a)		17,389		14,179,281
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		15,134		11,312,665
5.75%, 01/15/28 (Call 01/15/23)^(a)(b)		13,136		9,654,960
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.13%, 11/15/22 (Call 11/15/19)^(b)		21,080		20,721,697
Buckeye Partners LP
4.15%, 07/01/23 (Call 04/01/23)		994		998,970
6.38%, 01/22/78 (Call 01/22/23)^(c)		8,752		6,379,770
Cheniere Corpus Christi Holdings LLC
5.13%, 06/30/27 (Call 01/01/27)		18,222		19,650,978
5.88%, 03/31/25 (Call 10/02/24)		18,570		20,591,159
7.00%, 06/30/24 (Call 01/01/24)		14,916		17,153,400
Cheniere Energy Partners LP
4.50%, 10/01/29 (Call 10/01/24)^(b)		31,011		31,546,994
5.25%, 10/01/25 (Call 10/01/20)		33,260		34,496,806
5.63%, 10/01/26 (Call 10/01/21)^(a)		25,577		27,015,706
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.63%, 05/01/27 (Call 05/01/22)^(b)		14,877		15,009,093
5.75%, 04/01/25 (Call 04/01/20)^(a)		10,280		10,639,800
6.25%, 04/01/23 (Call 04/01/20)		15,637		15,945,049
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)^(a)		11,720		11,857,344
4.75%, 09/30/21 (Call 06/30/21)^(b)		11,814		12,080,225
5.13%, 05/15/29 (Call 02/15/29)^(a)		14,118		14,323,332
5.38%, 07/15/25 (Call 04/15/25)^(a)		19,272		20,238,009
5.85%, 05/21/43 (Call 05/21/23)^(a)(b)(c)		9,908		8,943,060
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)^(a)		19,417		17,594,083
4.40%, 04/01/24 (Call 01/01/24)^(a)		11,280		10,605,449
4.85%, 07/15/26 (Call 04/15/26)^(a)		11,632		10,634,689
Genesis Energy LP/Genesis Energy Finance Corp.
6.00%, 05/15/23 (Call 05/15/20)		10,122		9,872,493
6.25%, 05/15/26 (Call 02/15/21)^(a)		11,373		10,520,025
6.50%, 10/01/25 (Call 10/01/20)		10,953		10,405,350
6.75%, 08/01/22 (Call 08/01/20)^(a)		18,182		18,339,229
Global Partners LP/GLP Finance Corp., 7.00%, 08/01/27 (Call 08/01/22)^(a)(b)		9,579		10,008,115
NGL Energy Partners LP/NGL Energy Finance Corp.
7.50%, 11/01/23 (Call 11/01/19)		13,339		13,255,898
7.50%, 04/15/26 (Call 04/15/22)^(b)		11,278		10,748,322
NuStar Logistics LP
4.80%, 09/01/20		845		853,810
5.63%, 04/28/27 (Call 01/28/27)		14,446		15,011,802
6.00%, 06/01/26 (Call 03/01/26)		9,765		10,469,087


Security	Par (000)		Value

Pipelines (continued)
SemGroup Corp./Rose Rock Finance Corp., 5.63%, 07/15/22 (Call 07/15/20)^(a)	$	9,795	$	9,925,336
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
4.75%, 10/01/23 (Call 10/01/20)^(a)(b)		11,453		11,221,738
5.50%, 09/15/24 (Call 09/15/20)^(a)(b)		16,707		16,310,209
5.50%, 01/15/28 (Call 01/15/23)^(a)(b)		17,372		16,329,680
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23 (Call 05/15/20)		12,159		12,256,074
5.00%, 01/15/28 (Call 01/15/23)^(a)		17,264		17,098,554
5.13%, 02/01/25 (Call 02/01/20)^(a)		10,058		10,339,410
5.25%, 05/01/23 (Call 11/01/19)		12,128		12,225,479
5.38%, 02/01/27 (Call 02/01/22)^(a)		9,030		9,293,990
5.88%, 04/15/26 (Call 04/15/21)		20,240		21,206,930
6.50%, 07/15/27 (Call 07/15/22)^(b)		16,515		17,727,531
6.75%, 03/15/24 (Call 09/15/20)^(a)		11,242		11,673,327
6.88%, 01/15/29 (Call 01/15/24)^(a)(b)		19,120		20,621,494

				657,286,402

Real Estate — 0.5%
Howard Hughes Corp. (The), 5.38%, 03/15/25 (Call 03/15/20)^(a)(b)		21,565		22,376,383
Kennedy-Wilson Inc., 5.88%, 04/01/24 (Call 04/01/20)^(a)		27,856		28,830,960
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)(b)		11,478		11,192,198
5.25%, 12/01/21 (Call 12/01/19)^(b)		13,437		13,513,516
9.38%, 04/01/27 (Call 04/01/22)^(a)(b)		12,963		12,736,147

				88,649,204

Real Estate Investment Trusts — 3.2%
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26 (Call 05/15/22)^(b)		23,217		24,261,765
CBL & Associates LP
5.25%, 12/01/23 (Call 09/01/23)^(a)		8,609		6,028,022
5.95%, 12/15/26 (Call 09/15/26)^(a)		11,432		7,634,879
CyrusOne LP/CyrusOne Finance Corp.
5.00%, 03/15/24 (Call 03/15/20)		7,963		8,211,844
5.38%, 03/15/27 (Call 03/15/22)		7,406		7,905,133
Equinix Inc.
5.38%, 01/01/22 (Call 01/01/20)		13,137		13,392,952
5.38%, 04/01/23 (Call 04/01/20)		6,782		6,924,761
5.38%, 05/15/27 (Call 05/15/22)^(a)		15,039		16,317,315
5.75%, 01/01/25 (Call 01/01/20)^(a)		5,040		5,210,100
5.88%, 01/15/26 (Call 01/15/21)^(a)		22,232		23,640,691
ESH Hospitality Inc.
4.63%, 10/01/27 (Call 10/01/22)^(b)		16,462		16,551,558
5.25%, 05/01/25 (Call 05/01/20)^(b)		29,200		30,156,090
Iron Mountain Inc.
4.38%, 06/01/21 (Call 06/01/20)^(a)(b)		10,842		10,941,365
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		22,728		23,455,782
4.88%, 09/15/29 (Call 09/15/24)^(a)(b)		23,044		23,542,760
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		16,896		17,751,360
5.75%, 08/15/24 (Call 08/15/20)^(a)		20,363		20,566,630
6.00%, 08/15/23 (Call 08/15/20)^(a)		11,549		11,816,328
iStar Inc.
4.75%, 10/01/24 (Call 07/01/24)		15,081		15,533,430
5.25%, 09/15/22 (Call 09/15/20)^(a)		9,184		9,403,268


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
5.25%, 03/15/22 (Call 09/15/21)^(b)	$	10,248	$	10,619,490
5.25%, 10/01/25 (Call 10/01/20)^(b)		11,109		11,323,376
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
4.50%, 09/01/26 (Call 06/01/26)^(a)		10,219		10,874,735
5.63%, 05/01/24 (Call 02/01/24)		22,746		25,109,785
5.75%, 02/01/27 (Call 11/01/26)^(a)(b)		15,996		18,091,406
MPT Operating Partnership LP/MPT Finance Corp.
4.63%, 08/01/29 (Call 08/01/24)		18,162		18,884,933
5.00%, 10/15/27 (Call 09/07/22)		32,919		34,783,657
5.25%, 08/01/26 (Call 08/01/21)		10,375		10,915,524
6.38%, 03/01/24 (Call 03/01/20)^(a)		9,814		10,280,646
Ryman Hospitality Properties Inc., 4.75%, 10/15/27 (Call 10/15/22)^(b)		10,422		10,774,785
SBA Communications Corp.
4.00%, 10/01/22 (Call 10/01/20)^(a)		13,784		14,061,748
4.88%, 07/15/22 (Call 07/15/20)		14,858		15,062,297
4.88%, 09/01/24 (Call 09/01/20)^(a)		24,277		25,217,734
Senior Housing Properties Trust, 4.75%, 02/15/28 (Call 08/15/27)^(a)		9,617		9,880,660
Starwood Property Trust Inc.
3.63%, 02/01/21 (Call 11/01/20)^(a)		8,600		8,659,189
4.75%, 03/15/25 (Call 09/15/24)		10,207		10,599,331
5.00%, 12/15/21 (Call 09/15/21)^(a)		13,113		13,637,520
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 7.13%, 12/15/24 (Call 12/15/19)^(a)(b)		9,986		8,313,345
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
6.00%, 04/15/23 (Call 04/15/20)^(a)(b)		10,302		9,816,948
8.25%, 10/15/23 (Call 04/15/20)^(a)		20,016		17,163,720
Washington Prime Group LP, 6.45%, 08/15/24 (Call 06/15/24)^(a)		17,667		16,960,320

				610,277,182

Retail — 3.5%
1011778 BC ULC/New Red Finance Inc.
3.88%, 01/15/28 (Call 09/15/22)^(a)(b)		15,168		15,267,350
4.25%, 05/15/24 (Call 05/15/20)^(a)(b)		31,926		32,764,057
5.00%, 10/15/25 (Call 10/15/20)^(b)		66,047		68,193,527
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 11/01/20)^(a)(b)		30,114		29,699,933
eG Global Finance PLC
6.75%, 02/07/25 (Call 05/15/21)^(b)		9,084		9,086,901
8.50%, 10/30/25 (Call 10/30/21)^(b)		14,106		14,836,279
Ferrellgas LP/Ferrellgas Finance Corp.
6.50%, 05/01/21 (Call 12/02/19)^(a)		7,337		6,206,995
6.75%, 01/15/22 (Call 11/15/19)^(a)		8,145		6,869,798
6.75%, 06/15/23 (Call 06/15/20)^(a)		8,968		7,577,960
Golden Nugget Inc.
6.75%, 10/15/24 (Call 10/15/20)^(a)(b)		30,139		31,121,531
8.75%, 10/01/25 (Call 10/01/20)^(a)(b)		16,946		17,856,834
JC Penney Corp. Inc.
5.88%, 07/01/23 (Call 07/01/20)^(b)		11,648		10,257,520
8.63%, 03/15/25 (Call 03/15/21)^(a)(b)		6,837		4,382,090
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC
4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		16,300		17,044,571
5.00%, 06/01/24 (Call 06/01/20)^(a)(b)		20,042		20,818,628
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		22,471		23,760,179


Security	Par (000)		Value

Retail (continued)
L Brands Inc.
5.25%, 02/01/28^(a)	$	9,618	$	8,965,770
5.63%, 02/15/22^(a)		17,624		18,611,222
5.63%, 10/15/23^(a)		10,434		11,069,449
6.63%, 04/01/21		7,236		7,621,920
7.50%, 06/15/29 (Call 06/15/24)^(a)		13,762		13,691,272
Neiman Marcus Group Ltd. LLC/Neiman Marcus Group LLC/Mariposa Borrower/NMG
8.00%, 10/25/24 (Call 12/02/19)^(b)		9,968		2,691,360
8.75%, 10/25/24 (Call 12/02/19)^(a)(b)		5,656		1,542,438
Penske Automotive Group Inc.
5.50%, 05/15/26 (Call 05/15/21)^(a)		10,485		11,005,378
5.75%, 10/01/22 (Call 10/01/20)^(a)		9,273		9,381,958
PetSmart Inc.
5.88%, 06/01/25 (Call 06/01/20)^(b)		26,547		26,168,838
7.13%, 03/15/23 (Call 03/15/20)^(b)		44,281		40,959,925
8.88%, 06/01/25 (Call 06/01/20)^(a)(b)		13,719		12,764,387
QVC Inc.
4.38%, 03/15/23		14,523		15,104,459
4.45%, 02/15/25 (Call 11/15/24)		12,800		13,422,998
4.85%, 04/01/24^(a)		12,984		13,822,438
5.13%, 07/02/22		9,002		9,493,055
Rite Aid Corp., 6.13%, 04/01/23 (Call 04/01/20)^(a)(b)		33,727		28,658,253
Staples Inc.
7.50%, 04/15/26 (Call 04/15/22)^(b)		44,803		46,704,399
10.75%, 04/15/27 (Call 04/15/22)^(a)(b)		23,028		23,949,120
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 06/01/20)^(a)		10,548		10,808,536
Yum! Brands Inc., 4.75%, 01/15/30 (Call 10/15/29)^(a)(b)		17,867		18,712,109

				660,893,437

Semiconductors — 0.1%
Qorvo Inc., 5.50%, 07/15/26 (Call 07/15/21)^(a)		416		444,592
Sensata Technologies UK Financing Co. PLC, 6.25%, 02/15/26 (Call 02/15/21)^(b)		14,652		15,695,955

				16,140,547

Software — 2.2%
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)		13,503		14,185,172
5.00%, 10/15/24 (Call 07/15/24)^(a)		8,422		9,108,393
5.25%, 05/15/29 (Call 05/15/24)^(b)		11,214		11,900,858
5.88%, 06/15/26 (Call 06/15/21)^(a)		10,015		10,719,701
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 03/01/20)^(a)(b)		20,417		20,890,674
Dun & Bradstreet Corp./The
6.88%, 08/15/26 (Call 02/15/22)^(a)(b)		15,208		16,638,312
10.25%, 02/15/27 (Call 02/15/22)^(a)(b)		17,377		19,053,707
Infor U.S. Inc., 6.50%, 05/15/22 (Call 05/15/20)		34,787		35,326,198
IQVIA Inc.
5.00%, 10/15/26 (Call 10/15/21)^(a)(b)		21,992		23,219,371
5.00%, 05/15/27 (Call 05/15/22)^(a)(b)		24,039		25,451,291
MSCI Inc.
4.75%, 08/01/26 (Call 08/01/21)^(a)(b)		9,414		9,890,687
5.25%, 11/15/24 (Call 11/15/19)^(a)(b)		15,635		16,089,197
5.38%, 05/15/27 (Call 05/15/22)^(a)(b)		10,867		11,660,194
5.75%, 08/15/25 (Call 08/15/20)^(a)(b)		16,346		17,183,733
Open Text Corp.
5.63%, 01/15/23 (Call 01/15/20)^(b)		14,443		14,749,914
5.88%, 06/01/26 (Call 06/01/21)^(a)(b)		19,725		21,069,555


Security	Par (000)		Value

Software (continued)
Rackspace Hosting Inc., 8.63%, 11/15/24 (Call 11/15/19)^(a)(b)	$	28,105	$	25,645,813
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 03/01/20)^(a)(b)		46,997		49,077,938
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 03/30/22)^(a)(b)		46,855		49,998,736
Veritas U.S. Inc./Veritas Bermuda Ltd.
7.50%, 02/01/23 (Call 02/01/20)^(a)(b)		8,795		8,644,228
10.50%, 02/01/24 (Call 02/01/20)^(a)(b)		17,308		16,356,060

				426,859,732

Telecommunications — 9.8%
Altice France SA/France
5.50%, 01/15/28 (Call 09/15/22)^(b)		24,206		24,613,980
7.38%, 05/01/26 (Call 05/01/21)^(a)(b)		117,191		125,493,396
8.13%, 02/01/27 (Call 02/01/22)^(a)(b)		40,045		44,393,639
CenturyLink Inc.
5.63%, 04/01/25 (Call 01/01/25)^(a)		11,804		12,457,106
Series S, 6.45%, 06/15/21		27,010		28,428,025
Series T, 5.80%, 03/15/22^(a)		32,134		33,942,318
Series W, 6.75%, 12/01/23^(a)		15,851		17,655,636
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(a)		22,332		25,346,820
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 09/15/20)^(a)(b)		15,042		13,564,436
CommScope Inc.
5.00%, 06/15/21 (Call 11/12/19)^(a)(b)		5,255		5,255,000
5.50%, 03/01/24 (Call 03/01/21)^(a)(b)		29,016		29,480,256
5.50%, 06/15/24 (Call 06/15/20)^(a)(b)		13,541		12,813,171
6.00%, 03/01/26 (Call 03/01/22)^(a)(b)		31,892		32,739,689
8.25%, 03/01/27 (Call 03/01/22)^(a)(b)		24,208		22,796,586
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)^(a)(b)		16,154		13,170,558
6.00%, 06/15/25 (Call 06/15/20)^(a)(b)		32,492		28,826,633
Connect Finco SARL/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/01/22)^(a)(b)		24,766		25,665,117
Frontier Communications Corp.
6.88%, 01/15/25 (Call 10/15/24)^(a)		16,900		7,564,511
7.13%, 01/15/23		14,528		6,563,024
7.63%, 04/15/24^(a)		16,441		7,478,942
8.00%, 04/01/27 (Call 04/01/22)^(a)(b)		32,671		34,304,550
8.50%, 04/01/26 (Call 04/01/21)^(a)(b)		33,298		33,422,868
8.75%, 04/15/22		10,001		4,669,217
10.50%, 09/15/22 (Call 06/15/22)		44,424		21,014,636
11.00%, 09/15/25 (Call 06/15/25)		72,878		34,110,052
Gogo Intermediate Holdings LLC/Gogo Finance Co. Inc., 9.88%, 05/01/24 (Call 05/01/21)^(a)(b)		11,795		12,413,648
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(a)		16,795		17,991,644
6.63%, 08/01/26^(a)		17,959		19,491,192
7.63%, 06/15/21^(a)		19,021		20,495,128
Inmarsat Finance PLC
4.88%, 05/15/22 (Call 05/15/20)^(b)		19,721		19,970,853
6.50%, 10/01/24 (Call 10/01/20)^(a)(b)		6,773		7,121,810
Intelsat Connect Finance SA, 9.50%, 02/15/23 (Call 08/15/20)^(a)(b)		29,001		27,188,438
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 08/01/20)^(a)		44,897		41,952,457
8.00%, 02/15/24 (Call 02/15/20)^(a)(b)		31,837		32,742,390
8.50%, 10/15/24 (Call 10/15/20)^(a)(b)		64,714		65,199,355
9.50%, 09/30/22^(a)(b)		10,877		12,576,531
9.75%, 07/15/25 (Call 07/15/21)^(b)		41,937		43,457,216


Security	Par (000)		Value

Telecommunications (continued)
Intelsat Luxembourg SA, 8.13%, 06/01/23 (Call 06/01/20)^(a)	$	22,527	$	19,147,950
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(b)(c)		12,672		13,828,320
Level 3 Financing Inc.
4.63%, 09/15/27 (Call 09/15/22)^(a)(b)		22,060		22,446,050
5.13%, 05/01/23 (Call 05/01/20)		16,695		16,903,688
5.25%, 03/15/26 (Call 03/15/21)^(a)		17,708		18,477,590
5.38%, 08/15/22 (Call 12/02/19)		15,099		15,151,925
5.38%, 01/15/24 (Call 01/15/20)^(a)		19,232		19,596,760
5.38%, 05/01/25 (Call 05/01/20)^(a)		19,830		20,539,773
5.63%, 02/01/23 (Call 02/01/20)		9,227		9,308,380
Nokia OYJ
3.38%, 06/12/22		9,945		10,056,881
4.38%, 06/12/27^(a)		10,451		10,659,497
Qwest Corp., 6.75%, 12/01/21^(a)		20,327		21,880,111
Sprint Communications Inc.
6.00%, 11/15/22		52,781		55,881,884
11.50%, 11/15/21		21,940		25,329,925
Sprint Corp.
7.13%, 06/15/24		58,059		63,066,589
7.25%, 09/15/21		46,869		50,012,035
7.63%, 02/15/25 (Call 11/15/24)^(a)		33,454		36,844,563
7.63%, 03/01/26 (Call 11/01/25)		34,038		37,700,884
7.88%, 09/15/23		94,481		104,335,368
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		32,643		34,972,894
Telefonaktiebolaget LM Ericsson, 4.13%, 05/15/22^(a)		19,802		20,508,914
T-Mobile USA Inc.
4.00%, 04/15/22 (Call 03/16/22)		9,442		9,732,546
4.50%, 02/01/26 (Call 02/01/21)		22,515		23,218,594
4.75%, 02/01/28 (Call 02/01/23)		34,588		36,403,870
5.13%, 04/15/25 (Call 04/15/20)		10,018		10,398,371
5.38%, 04/15/27 (Call 04/15/22)		11,141		11,994,603
6.00%, 03/01/23 (Call 09/01/20)		18,991		19,348,511
6.00%, 04/15/24 (Call 04/15/20)		19,570		20,328,338
6.38%, 03/01/25 (Call 09/01/20)		35,383		36,733,038
6.50%, 01/15/24 (Call 01/15/20)^(a)		13,307		13,822,646
6.50%, 01/15/26 (Call 01/15/21)		41,786		44,819,664
ViaSat Inc.
5.63%, 09/15/25 (Call 09/15/20)^(a)(b)		16,750		17,042,323
5.63%, 04/15/27 (Call 04/15/22)^(a)(b)		12,671		13,369,413
West Corp., 8.50%, 10/15/25 (Call 10/15/20)^(a)(b)		25,743		19,487,158

				1,869,719,884

Toys, Games & Hobbies — 0.2%
Mattel Inc., 6.75%, 12/31/25 (Call 12/31/20)^(a)(b)		34,985		36,655,096


Transportation — 0.3%
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., 7.38%, 01/15/22 (Call 01/15/20)^(a)(b)		9,300		5,457,938
XPO Logistics Inc. 6.13%, 09/01/23 (Call 09/01/20)^(a)(b)		10,426		10,764,093


Security	Par/ Shares (000)		Value

Transportation (continued)
6.50%, 06/15/22 (Call 06/15/20)^(b)	$	24,978	$	25,483,525
6.75%, 08/15/24 (Call 08/15/21)^(a)(b)		21,711		23,576,728

				65,282,284

Trucking & Leasing — 0.2%
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25)^(b)(c)		10,000		10,962,500
Fortress Transportation & Infrastructure Investors LLC
6.50%, 10/01/25 (Call 10/01/21)^(a)(b)		11,354		11,552,695
6.75%, 03/15/22 (Call 03/15/20)^(a)(b)		16,161		16,827,641

				39,342,836


Total Corporate Bonds & Notes — 97.2% (Cost: $18,911,264,563)				18,530,147,058


Preferred Stocks

Internet & Direct Marketing Retail — 0.0%
MYT Holding Co., 10.00%, 06/07/29^(b)		1,682		1,412,987


Total Preferred Stocks — 0.0% (Cost $1,572,782)				1,412,987


Short-Term Investments

Money Market Funds — 18.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.00%^(f)(g)(h)		3,115,556		3,117,113,449
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(f)(g)		310,839		310,839,000

				3,427,952,449


Total Short-Term Investments — 18.0% (Cost: $3,426,541,726)				3,427,952,449


Total Investments in Securities — 115.2% (Cost: $22,339,379,071)				21,959,512,494

Other Assets, Less Liabilities — (15.2)%				(2,899,274,993	)


Net Assets — 100.0%			$	19,060,237,501

^(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)	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.

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)	$	10,437	$	11,018,859
3.63%, 05/01/22		2,122		2,200,087
3.65%, 11/01/24 (Call 08/01/24)		9,972		10,528,930
WPP Finance 2010, 3.75%, 09/19/24^(a)		10,396		10,936,495

				34,684,371

Aerospace & Defense — 1.9%
Boeing Co. (The)
2.70%, 02/01/27 (Call 12/01/26)^(a)		13,030		13,227,510
2.95%, 02/01/30 (Call 11/01/29)^(a)		12,927		13,210,083
3.20%, 03/01/29 (Call 12/01/28)		8,225		8,598,591
3.25%, 02/01/35 (Call 11/01/34)		9,400		9,838,515
3.60%, 05/01/34 (Call 02/01/34)		8,773		9,521,643
3.75%, 02/01/50 (Call 08/01/49)		13,340		14,257,713
3.90%, 05/01/49 (Call 11/01/48)^(a)		8,136		8,870,429
3.95%, 08/01/59 (Call 02/01/59)		10,000		10,923,037
General Dynamics Corp.
2.25%, 11/15/22 (Call 08/15/22)		9,523		9,633,489
3.38%, 05/15/23 (Call 04/15/23)^(a)		6,177		6,481,671
3.50%, 05/15/25 (Call 03/15/25)^(a)		12,250		13,148,903
3.75%, 05/15/28 (Call 02/15/28)^(a)		7,414		8,280,482
L3Harris Technologies Inc.
3.85%, 06/15/23 (Call 05/15/23)^(b)		8,361		8,827,663
4.40%, 06/15/28 (Call 03/15/28)		1,875		2,105,520
4.40%, 06/15/28 (Call 03/15/28)^(b)		11,680		13,115,987
Lockheed Martin Corp.
2.90%, 03/01/25 (Call 12/01/24)^(a)		9,399		9,787,430
3.55%, 01/15/26 (Call 10/15/25)		25,397		27,386,372
3.80%, 03/01/45 (Call 09/01/44)		14,097		15,636,643
4.07%, 12/15/42^(a)		15,502		17,870,247
4.09%, 09/15/52 (Call 03/15/52)^(a)		18,046		21,008,513
4.70%, 05/15/46 (Call 11/15/45)^(a)		11,641		14,683,073
Northrop Grumman Corp.
2.55%, 10/15/22 (Call 09/15/22)^(a)		7,453		7,569,057
2.93%, 01/15/25 (Call 11/15/24)		20,329		21,011,461
3.20%, 02/01/27 (Call 11/01/26)^(a)		7,108		7,451,015
3.25%, 08/01/23^(a)		5,403		5,640,683
3.25%, 01/15/28 (Call 10/15/27)^(a)		42,852		44,887,449
4.03%, 10/15/47 (Call 04/15/47)^(a)		16,063		18,074,157
4.75%, 06/01/43^(a)		11,507		14,007,178
Raytheon Co., 2.50%, 12/15/22 (Call 09/15/22)^(a)		8,738		8,881,139
Rockwell Collins Inc.
3.20%, 03/15/24 (Call 01/15/24)		9,033		9,404,897
3.50%, 03/15/27 (Call 12/15/26)		20,154		21,543,072
4.35%, 04/15/47 (Call 10/15/46)		9,220		10,845,693
United Technologies Corp.
2.65%, 11/01/26 (Call 08/01/26)^(a)		15,025		15,384,790
2.80%, 05/04/24 (Call 03/04/24)^(a)		6,665		6,865,408
3.13%, 05/04/27 (Call 02/04/27)^(a)		12,579		13,257,825
3.65%, 08/16/23 (Call 07/16/23)		25,688		27,167,305
3.75%, 11/01/46 (Call 05/01/46)		8,838		9,725,680
3.95%, 08/16/25 (Call 06/16/25)^(a)		13,106		14,341,361
4.13%, 11/16/28 (Call 08/16/28)^(a)		29,859		33,866,848
4.15%, 05/15/45 (Call 11/16/44)		6,452		7,431,963
4.45%, 11/16/38 (Call 05/16/38)^(a)		13,125		15,680,721
4.50%, 06/01/42		39,828		47,840,036
4.63%, 11/16/48 (Call 05/16/48)^(a)		20,355		25,356,771
5.70%, 04/15/40		13,745		18,473,149


Security	Par (000)		Value

Aerospace & Defense (continued)
6.13%, 07/15/38	$	9,450	$	13,183,163

				674,304,335

Agriculture — 1.6%
Altria Group Inc.
2.85%, 08/09/22		2,561		2,596,761
3.80%, 02/14/24 (Call 01/14/24)^(a)		11,367		11,896,062
3.88%, 09/16/46 (Call 03/16/46)		12,906		11,918,115
4.00%, 01/31/24		13,063		13,808,407
4.25%, 08/09/42^(a)		11,492		11,215,898
4.40%, 02/14/26 (Call 12/14/25)^(a)		16,434		17,721,042
4.80%, 02/14/29 (Call 11/14/28)		40,971		44,983,417
5.38%, 01/31/44^(a)		12,718		14,215,987
5.80%, 02/14/39 (Call 08/14/38)		24,227		28,014,097
5.95%, 02/14/49 (Call 08/14/48)^(a)		27,816		32,748,344
Archer-Daniels-Midland Co., 2.50%, 08/11/26 (Call 05/11/26)		11,563		11,705,588
BAT Capital Corp.
2.79%, 09/06/24 (Call 08/06/24)^(a)		11,000		10,958,281
3.22%, 08/15/24 (Call 06/15/24)^(a)		18,757		19,044,498
3.22%, 09/06/26 (Call 07/06/26)^(a)		5,850		5,815,827
3.46%, 09/06/29 (Call 06/06/29)		5,000		4,914,094
3.56%, 08/15/27 (Call 05/15/27)^(a)		40,522		40,743,226
4.39%, 08/15/37 (Call 02/15/37)		26,198		25,708,545
4.54%, 08/15/47 (Call 02/15/47)		30,427		29,270,126
4.76%, 09/06/49 (Call 03/06/49)		8,395		8,286,522
Philip Morris International Inc.
2.50%, 11/02/22 (Call 10/02/22)^(a)		11,187		11,318,555
2.75%, 02/25/26 (Call 11/25/25)		3,836		3,894,560
2.88%, 05/01/24 (Call 04/01/24)		9,214		9,469,798
3.25%, 11/10/24^(a)		11,654		12,217,850
3.38%, 08/11/25 (Call 05/11/25)		8,265		8,731,770
3.38%, 08/15/29 (Call 05/15/29)		17,244		18,080,931
3.88%, 08/21/42		6,925		7,104,092
4.13%, 03/04/43		8,401		9,000,710
4.25%, 11/10/44		11,261		12,334,696
4.38%, 11/15/41		9,928		10,850,073
4.88%, 11/15/43^(a)		5,793		6,808,669
6.38%, 05/16/38		16,159		22,038,935
Reynolds American Inc.
4.45%, 06/12/25 (Call 03/12/25)^(a)		38,604		41,357,307
5.70%, 08/15/35 (Call 02/15/35)^(a)		7,228		8,098,517
5.85%, 08/15/45 (Call 02/15/45)		24,114		26,794,447

				553,665,747

Airlines — 0.0%
Delta Air Lines Inc., 2.90%, 10/28/24 (Call 09/28/24)		6,000		5,980,296


Apparel — 0.1%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		10,090		10,320,290
3.88%, 11/01/45 (Call 05/01/45)^(a)		10,250		11,674,435

				21,994,725

Auto Manufacturers — 1.5%
Daimler Finance North America LLC
3.65%, 02/22/24^(a)(b)		1,985		2,082,603
8.50%, 01/18/31		18,062		27,200,232
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(a)		20,198		20,308,944
4.75%, 01/15/43		22,572		19,623,045
5.29%, 12/08/46 (Call 06/08/46)^(a)		14,075		12,960,891


Security	Par (000)		Value

Auto Manufacturers (continued)
7.45%, 07/16/31	$	20,007	$	23,254,612
Ford Motor Credit Co. LLC
3.10%, 05/04/23		9,510		9,378,869
3.66%, 09/08/24		16,079		15,905,506
3.81%, 01/09/24 (Call 11/09/23)		7,008		7,004,322
3.82%, 11/02/27 (Call 08/02/27)^(a)		14,155		13,479,335
4.13%, 08/04/25		25,507		25,421,098
4.14%, 02/15/23 (Call 01/15/23)		7,595		7,745,782
4.38%, 08/06/23^(a)		9,316		9,584,397
4.39%, 01/08/26		13,284		13,241,977
5.11%, 05/03/29 (Call 02/03/29)^(a)		15,430		15,628,167
5.58%, 03/18/24 (Call 02/18/24)		12,845		13,680,499
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)		13,672		13,958,324
4.88%, 10/02/23^(a)		9,050		9,720,475
5.00%, 10/01/28 (Call 07/01/28)^(a)		12,622		13,540,306
5.00%, 04/01/35^(a)		8,605		8,753,515
5.15%, 04/01/38 (Call 10/01/37)		13,383		13,549,850
5.20%, 04/01/45		13,627		13,451,371
5.40%, 04/01/48 (Call 10/01/47)		9,912		10,046,556
5.95%, 04/01/49 (Call 10/01/48)		9,104		9,884,639
6.25%, 10/02/43		17,060		19,056,003
6.60%, 04/01/36 (Call 10/01/35)^(a)		10,796		12,496,895
6.75%, 04/01/46 (Call 10/01/45)		9,110		10,509,325
General Motors Financial Co. Inc.
3.15%, 06/30/22 (Call 05/30/22)^(a)		4,318		4,384,373
3.25%, 01/05/23 (Call 12/05/22)		4,688		4,750,701
3.45%, 04/10/22 (Call 02/10/22)		6,150		6,276,933
3.50%, 11/07/24 (Call 09/07/24)^(a)		12,824		13,062,934
3.70%, 05/09/23 (Call 03/09/23)		15,692		16,104,099
3.95%, 04/13/24 (Call 02/13/24)^(a)		10,554		10,923,249
4.00%, 01/15/25 (Call 10/15/24)^(a)		9,748		10,095,230
4.00%, 10/06/26 (Call 07/06/26)^(a)		8,844		9,005,153
4.15%, 06/19/23 (Call 05/19/23)^(a)		5,452		5,682,851
4.30%, 07/13/25 (Call 04/13/25)^(a)		9,379		9,805,206
4.35%, 04/09/25 (Call 02/09/25)^(a)		9,704		10,179,578
4.35%, 01/17/27 (Call 10/17/26)		7,004		7,222,145
5.10%, 01/17/24 (Call 12/17/23)		9,519		10,250,858
5.25%, 03/01/26 (Call 12/01/25)		13,179		14,290,974
Toyota Motor Corp., 3.42%, 07/20/23^(a)		5,026		5,297,114
Toyota Motor Credit Corp.
2.15%, 09/08/22^(a)		6,776		6,832,948
3.20%, 01/11/27^(a)		14,219		15,247,209
3.45%, 09/20/23^(a)		8,431		8,902,424

				539,781,517

Banks — 24.7%
Australia & New Zealand Banking Group Ltd./New York NY
2.63%, 11/09/22^(a)		10,531		10,733,780
3.70%, 11/16/25^(a)		13,117		14,214,280
Banco Santander SA
2.71%, 06/27/24		8,225		8,345,929
3.13%, 02/23/23		7,937		8,102,828
3.31%, 06/27/29		21,050		21,830,932
3.50%, 04/11/22		3,762		3,864,668
3.80%, 02/23/28		10,610		11,200,100
3.85%, 04/12/23		13,365		13,968,205
4.25%, 04/11/27^(a)		14,282		15,419,911
4.38%, 04/12/28^(a)		12,392		13,593,081
5.18%, 11/19/25^(a)		2,498		2,770,757


Security	Par (000)		Value

Banks (continued)
Bank of America Corp.
2.46%, 10/22/25 (Call 10/22/24)^(a)(c)	$	3,825	$	3,846,042
2.50%, 10/21/22 (Call 10/21/21)^(a)		15,272		15,411,641
2.82%, 07/21/23 (Call 07/21/22)^(a)(c)		3,492		3,546,948
2.88%, 04/24/23 (Call 04/24/22)^(a)(c)		4,409		4,481,622
2.88%, 10/22/30 (Call 10/22/29)^(c)		10,000		10,021,249
3.00%, 12/20/23 (Call 12/20/22)^(c)		48,350		49,444,571
3.09%, 10/01/25 (Call 10/01/24)^(c)		19,549		20,202,077
3.12%, 01/20/23 (Call 01/20/22)^(c)		2,777		2,832,714
3.19%, 07/23/30 (Call 07/23/29)^(c)		23,985		24,734,661
3.25%, 10/21/27 (Call 10/21/26)		18,909		19,644,759
3.30%, 01/11/23		41,275		42,789,669
3.37%, 01/23/26 (Call 01/23/25)^(a)(c)		25,057		26,225,811
3.42%, 12/20/28 (Call 12/20/27)^(c)		66,115		69,215,470
3.46%, 03/15/25 (Call 03/15/24)^(c)		27,725		28,935,637
3.50%, 04/19/26^(a)		30,329		32,201,239
3.55%, 03/05/24 (Call 03/05/23)^(c)		22,513		23,463,717
3.56%, 04/23/27 (Call 04/23/26)^(c)		12,260		12,951,018
3.59%, 07/21/28 (Call 07/21/27)^(c)		15,995		16,957,286
3.71%, 04/24/28 (Call 04/24/27)^(a)(c)		18,820		20,061,066
3.82%, 01/20/28 (Call 01/20/27)^(c)		19,559		21,029,227
3.86%, 07/23/24 (Call 07/23/23)^(a)(c)		30,372		32,051,347
3.88%, 08/01/25		23,401		25,269,855
3.95%, 01/23/49 (Call 01/23/48)^(a)(c)		15,708		17,683,441
3.97%, 03/05/29 (Call 03/05/28)^(a)(c)		31,372		34,153,683
3.97%, 02/07/30 (Call 02/07/29)^(c)		33,182		36,217,284
4.00%, 04/01/24^(a)		20,155		21,630,924
4.00%, 01/22/25		30,385		32,442,560
4.08%, 04/23/40 (Call 04/23/39)^(c)		21,155		23,676,094
4.10%, 07/24/23		19,863		21,199,307
4.13%, 01/22/24		23,872		25,680,801
4.20%, 08/26/24^(a)		12,177		13,112,765
4.24%, 04/24/38 (Call 04/24/37)^(c)		24,617		27,929,976
4.25%, 10/22/26		20,812		22,605,853
4.27%, 07/23/29 (Call 07/23/28)^(a)(c)		35,792		39,737,349
4.33%, 03/15/50 (Call 03/15/49)^(c)		25,806		30,581,436
4.44%, 01/20/48 (Call 01/20/47)^(a)(c)		19,430		23,259,573
4.45%, 03/03/26		22,926		25,023,518
5.00%, 01/21/44^(a)		21,397		27,196,454
5.88%, 02/07/42		18,256		25,418,298
6.11%, 01/29/37		18,189		23,915,301
7.75%, 05/14/38^(a)		13,094		20,113,487
Series L, 3.95%, 04/21/25^(a)		25,149		26,774,634
Series L, 4.18%, 11/25/27 (Call 11/25/26)^(a)		15,310		16,558,783
Bank of America N.A., 6.00%, 10/15/36		8,020		11,003,861
Bank of Montreal
2.35%, 09/11/22^(a)		9,876		10,007,999
2.50%, 06/28/24^(a)		16,983		17,194,596
2.55%, 11/06/22 (Call 10/06/22)		9,072		9,237,974
Series E, 3.30%, 02/05/24^(a)		21,879		22,849,723
Bank of New York Mellon Corp. (The)
2.20%, 08/16/23 (Call 06/16/23)^(a)		13,508		13,577,750
2.45%, 08/17/26 (Call 05/17/26)^(a)		11,713		11,840,436
2.80%, 05/04/26 (Call 02/04/26)		8,458		8,708,979
2.95%, 01/29/23 (Call 12/29/22)		11,125		11,445,432
3.25%, 05/16/27 (Call 02/16/27)^(a)		4,686		4,960,269
3.30%, 08/23/29 (Call 05/23/29)^(a)		8,509		8,984,354
3.40%, 01/29/28 (Call 10/29/27)		9,923		10,606,750
3.45%, 08/11/23^(a)		9,988		10,500,326
3.50%, 04/28/23^(a)		6,208		6,524,015


Security	Par (000)		Value

Banks (continued)
Series 0012, 3.65%, 02/04/24 (Call 01/05/24)^(a)	$	7,192	$	7,654,214
Series G, 3.00%, 02/24/25 (Call 01/24/25)		9,193		9,582,585
Bank of Nova Scotia (The)
2.45%, 09/19/22		4,254		4,324,366
2.70%, 08/03/26^(a)		15,694		15,989,471
2.80%, 07/21/21		4,025		4,086,535
3.40%, 02/11/24^(a)		7,114		7,461,149
4.50%, 12/16/25^(a)		18,661		20,392,164
Barclays PLC
3.65%, 03/16/25^(a)		31,095		32,269,999
3.68%, 01/10/23 (Call 01/10/22)^(a)		10,978		11,219,643
3.93%, 05/07/25 (Call 05/07/24)^(a)(c)		8,757		9,128,093
4.34%, 05/16/24 (Call 05/16/23)^(c)		17,831		18,772,609
4.34%, 01/10/28 (Call 01/10/27)^(a)		16,218		17,504,598
4.38%, 09/11/24		13,794		14,472,051
4.38%, 01/12/26		26,116		28,108,813
4.84%, 05/09/28 (Call 05/07/27)^(a)		19,298		20,622,186
4.95%, 01/10/47		20,754		23,917,949
4.97%, 05/16/29 (Call 05/16/28)^(a)(c)		23,464		26,433,731
5.20%, 05/12/26^(a)		22,606		24,602,166
5.25%, 08/17/45		16,429		19,745,879
BB&T Corp.
2.50%, 08/01/24 (Call 07/01/24)		13,121		13,292,781
2.85%, 10/26/24 (Call 09/26/24)		14,600		15,080,769
3.70%, 06/05/25 (Call 05/05/25)^(a)		14,994		16,115,424
3.75%, 12/06/23 (Call 11/06/23)		11,115		11,794,476
BNP Paribas SA
3.25%, 03/03/23		9,638		10,076,647
4.25%, 10/15/24^(a)		10,411		11,062,685
BPCE SA
2.75%, 12/02/21		1,956		1,988,765
4.00%, 04/15/24		14,338		15,442,393
Branch Banking & Trust Co.
3.63%, 09/16/25 (Call 08/16/25)		10,970		11,717,834
3.80%, 10/30/26 (Call 09/30/26)^(a)		10,679		11,506,260
Canadian Imperial Bank of Commerce
3.10%, 04/02/24		16,657		17,245,823
3.50%, 09/13/23^(a)		13,603		14,342,836
Capital One N.A., 2.65%, 08/08/22 (Call 07/08/22)		7,631		7,739,658
Citibank N.A., 3.65%, 01/23/24 (Call 12/23/23)^(a)		22,860		24,242,689
Citigroup Inc.
2.70%, 10/27/22 (Call 09/27/22)^(a)		15,260		15,511,479
2.88%, 07/24/23 (Call 07/24/22)^(c)		17,002		17,277,570
3.14%, 01/24/23 (Call 01/24/22)^(c)		1,594		1,625,263
3.20%, 10/21/26 (Call 07/21/26)^(a)		33,700		34,930,579
3.30%, 04/27/25^(a)		22,034		23,040,835
3.35%, 04/24/25 (Call 04/24/24)^(c)		26,415		27,442,567
3.40%, 05/01/26^(a)		18,334		19,244,375
3.50%, 05/15/23^(a)		9,850		10,209,197
3.52%, 10/27/28 (Call 10/27/27)^(a)(c)		30,817		32,466,283
3.67%, 07/24/28 (Call 07/24/27)^(c)		26,374		28,021,236
3.70%, 01/12/26^(a)		20,478		21,851,228
3.88%, 10/25/23^(a)		13,349		14,171,285
3.88%, 03/26/25		19,320		20,433,535
3.88%, 01/24/39 (Call 01/24/38)^(c)		14,422		15,735,236
3.89%, 01/10/28 (Call 01/10/27)^(a)(c)		34,223		36,783,640
3.98%, 03/20/30 (Call 03/20/29)^(c)		22,400		24,424,124
4.00%, 08/05/24^(a)		7,798		8,297,975
4.04%, 06/01/24 (Call 06/01/23)^(c)		13,868		14,672,325
4.05%, 07/30/22^(a)		3,905		4,097,945


Security	Par (000)		Value

Banks (continued)
4.08%, 04/23/29 (Call 04/23/28)^(a)(c)	$	9,676	$	10,599,256
4.13%, 07/25/28^(a)		27,346		29,592,012
4.28%, 04/24/48 (Call 04/24/47)^(a)(c)		11,320		13,376,267
4.30%, 11/20/26^(a)		14,761		15,973,386
4.40%, 06/10/25		23,297		25,255,651
4.45%, 09/29/27		45,195		49,713,964
4.60%, 03/09/26^(a)		11,616		12,742,192
4.65%, 07/30/45		14,386		17,561,081
4.65%, 07/23/48 (Call 06/23/48)^(a)		26,403		32,576,235
4.75%, 05/18/46^(a)		21,653		25,434,114
5.30%, 05/06/44^(a)		9,286		11,623,241
5.50%, 09/13/25^(a)		16,332		18,677,755
5.88%, 01/30/42		11,666		16,029,758
6.63%, 06/15/32		10,833		14,358,963
6.68%, 09/13/43		10,451		15,101,569
8.13%, 07/15/39		20,258		33,218,892
Citizens Financial Group Inc., 4.30%, 12/03/25 (Call 11/03/25)^(a)		7,373		7,950,147
Cooperatieve Rabobank UA
3.75%, 07/21/26^(a)		21,864		22,827,516
3.95%, 11/09/22		14,491		15,137,799
4.38%, 08/04/25		22,461		24,373,460
4.63%, 12/01/23		6,902		7,440,290
5.25%, 05/24/41^(a)		13,792		19,024,126
5.25%, 08/04/45		13,485		16,965,206
5.75%, 12/01/43^(a)		14,937		19,813,818
Cooperatieve Rabobank UA/NY
2.75%, 01/10/23		13,315		13,611,071
3.38%, 05/21/25		21,884		23,333,850
Credit Suisse AG/New York NY, 3.63%, 09/09/24^(a)		37,090		39,415,491
Credit Suisse Group Funding Guernsey Ltd.
3.75%, 03/26/25^(a)		26,357		27,844,165
3.80%, 06/09/23		24,773		25,921,345
4.55%, 04/17/26^(a)		21,032		23,272,522
4.88%, 05/15/45		25,902		32,155,945
Deutsche Bank AG/London, 3.70%, 05/30/24^(a)		3,944		3,984,416
Deutsche Bank AG/New York NY
3.30%, 11/16/22^(a)		11,145		11,168,732
3.70%, 05/30/24^(a)		12,419		12,551,049
3.95%, 02/27/23		7,917		8,089,739
Discover Bank
2.45%, 09/12/24 (Call 08/12/24)		5,550		5,555,078
3.35%, 02/06/23 (Call 01/06/23)^(a)		7,793		8,044,773
3.45%, 07/27/26 (Call 04/27/26)^(a)		11,629		12,059,628
4.20%, 08/08/23		10,721		11,427,185
4.65%, 09/13/28 (Call 06/13/28)^(a)		13,048		14,644,003
Fifth Third Bancorp.
2.38%, 01/28/25 (Call 12/28/24)		5,000		5,023,678
3.65%, 01/25/24 (Call 12/25/23)		11,547		12,179,771
3.95%, 03/14/28 (Call 02/14/28)^(a)		3,170		3,467,489
4.30%, 01/16/24 (Call 12/16/23)^(a)		8,603		9,254,087
8.25%, 03/01/38		10,869		16,644,918
Fifth Third Bank/Cincinnati OH
3.85%, 03/15/26 (Call 02/15/26)^(a)		10,079		10,767,834
3.95%, 07/28/25 (Call 06/28/25)^(a)		5,542		6,049,229
Goldman Sachs Group Inc. (The)
2.91%, 07/24/23 (Call 07/24/22)^(a)(c)		11,616		11,791,229
3.20%, 02/23/23 (Call 01/23/23)^(a)		16,295		16,802,374
3.27%, 09/29/25 (Call 09/29/24)^(c)		29,585		30,608,845
3.50%, 01/23/25 (Call 10/23/24)		28,933		30,246,312


Security	Par (000)		Value

Banks (continued)
3.50%, 11/16/26 (Call 11/16/25)^(a)	$	29,414	$	30,697,192
3.63%, 01/22/23^(a)		22,528		23,555,820
3.63%, 02/20/24 (Call 01/20/24)^(a)		13,491		14,175,756
3.69%, 06/05/28 (Call 06/05/27)^(c)		26,599		28,045,071
3.75%, 05/22/25 (Call 02/22/25)		30,464		32,298,813
3.75%, 02/25/26 (Call 11/25/25)^(a)		15,945		16,938,117
3.81%, 04/23/29 (Call 04/23/28)^(c)		31,573		33,524,704
3.85%, 07/08/24 (Call 04/08/24)^(a)		23,317		24,725,365
3.85%, 01/26/27 (Call 01/26/26)^(a)		26,876		28,588,273
4.00%, 03/03/24		26,748		28,582,712
4.02%, 10/31/38 (Call 10/31/37)^(c)		29,635		32,037,829
4.22%, 05/01/29 (Call 05/01/28)^(a)(c)		43,302		47,317,524
4.25%, 10/21/25^(a)		24,720		26,626,243
4.41%, 04/23/39 (Call 04/23/38)^(c)		18,904		21,428,805
4.75%, 10/21/45 (Call 04/21/45)		21,523		26,127,396
4.80%, 07/08/44 (Call 01/08/44)^(a)		20,981		25,382,405
5.15%, 05/22/45		23,350		28,265,133
5.95%, 01/15/27^(a)		7,854		9,347,478
6.13%, 02/15/33		4,890		6,538,681
6.25%, 02/01/41		25,640		35,962,295
6.75%, 10/01/37		65,513		89,026,880
HSBC Bank USA N.A./New York NY 5.63%, 08/15/35		8,319		10,368,123
5.88%, 11/01/34		12,033		15,541,335
HSBC Holdings PLC
3.03%, 11/22/23 (Call 11/22/22)^(a)(c)		13,514		13,789,817
3.26%, 03/13/23 (Call 03/13/22)^(a)(c)		3,752		3,834,837
3.60%, 05/25/23^(a)		21,155		22,070,586
3.80%, 03/11/25 (Call 03/11/24)^(a)(c)		14,830		15,552,701
3.90%, 05/25/26^(a)		28,141		29,999,257
3.95%, 05/18/24 (Call 05/18/23)^(a)(c)		15,071		15,823,133
3.97%, 05/22/30 (Call 05/22/29)^(a)(c)		21,571		23,292,430
4.04%, 03/13/28 (Call 03/13/27)^(a)(c)		23,462		25,137,260
4.25%, 03/14/24^(a)		5,698		6,045,851
4.25%, 08/18/25^(a)		33,603		35,899,846
4.29%, 09/12/26 (Call 09/12/25)^(c)		21,824		23,589,773
4.30%, 03/08/26^(a)		40,426		44,030,916
4.38%, 11/23/26^(a)		14,601		15,786,176
4.58%, 06/19/29 (Call 06/19/28)^(c)		45,418		50,800,410
5.25%, 03/14/44^(a)		15,351		19,112,921
6.10%, 01/14/42		11,247		16,024,395
6.50%, 05/02/36^(a)		21,309		28,588,862
6.50%, 09/15/37		32,645		44,313,110
6.80%, 06/01/38^(a)		16,325		22,952,015
HSBC USA Inc., 3.50%, 06/23/24		5,961		6,307,122
Huntington Bancshares Inc./OH, 2.63%, 08/06/24 (Call 07/06/24)		9,600		9,745,676
Huntington National Bank (The), 3.55%, 10/06/23 (Call 09/06/23)		5,352		5,644,924
ING Groep NV
3.15%, 03/29/22		2,203		2,255,016
3.55%, 04/09/24		8,060		8,448,491
3.95%, 03/29/27^(a)		13,719		14,736,419
4.05%, 04/09/29^(a)		8,760		9,650,043
4.10%, 10/02/23^(a)		16,735		17,848,748
4.55%, 10/02/28^(a)		27,510		31,275,219
JPMorgan Chase & Co.
2.30%, 10/15/25 (Call 10/15/24)^(c)		17,775		17,733,286
2.70%, 05/18/23 (Call 03/18/23)^(a)		15,239		15,550,734
2.74%, 10/15/30 (Call 10/15/29)^(a)(c)		31,850		31,729,126


Security	Par (000)		Value

Banks (continued)
2.78%, 04/25/23 (Call 04/25/22)^(c)	$	1,941	$	1,969,210
2.95%, 10/01/26 (Call 07/01/26)^(a)		32,066		32,984,777
2.97%, 01/15/23 (Call 01/15/22)		14,990		15,273,545
3.13%, 01/23/25 (Call 10/23/24)		26,380		27,376,162
3.20%, 01/25/23^(a)		30,937		32,032,015
3.20%, 06/15/26 (Call 03/15/26)		17,485		18,281,214
3.22%, 03/01/25 (Call 03/01/24)^(c)		22,031		22,857,429
3.25%, 09/23/22^(a)		30,430		31,497,411
3.30%, 04/01/26 (Call 01/01/26)^(a)		31,727		33,355,779
3.38%, 05/01/23^(a)		21,261		22,178,236
3.51%, 01/23/29 (Call 01/23/28)^(c)		38,993		41,245,544
3.54%, 05/01/28 (Call 05/01/27)^(a)(c)		30,543		32,388,817
3.56%, 04/23/24 (Call 04/23/23)^(c)		25,173		26,267,144
3.63%, 05/13/24		18,085		19,231,660
3.63%, 12/01/27 (Call 12/01/26)^(a)		14,738		15,518,651
3.70%, 05/06/30 (Call 05/06/29)^(a)(c)		22,465		24,147,581
3.78%, 02/01/28 (Call 02/01/27)^(c)		4,887		5,248,136
3.80%, 07/23/24 (Call 07/23/23)^(a)(c)		25,497		26,952,351
3.88%, 02/01/24^(a)		14,806		15,824,453
3.88%, 09/10/24		26,869		28,665,416
3.88%, 07/24/38 (Call 07/24/37)^(c)		25,405		27,840,323
3.90%, 07/15/25 (Call 04/15/25)		30,667		33,109,075
3.90%, 01/23/49 (Call 01/23/48)^(a)(c)		19,137		21,248,963
3.96%, 01/29/27 (Call 01/29/26)^(a)(c)		20,307		21,992,101
3.96%, 11/15/48 (Call 11/15/47)^(c)		32,789		36,656,515
4.01%, 04/23/29 (Call 04/23/28)^(c)		32,025		34,988,738
4.02%, 12/05/24 (Call 12/05/23)^(c)		23,770		25,380,244
4.03%, 07/24/48 (Call 07/24/47)^(a)(c)		17,066		19,308,967
4.13%, 12/15/26^(a)		10,737		11,677,346
4.20%, 07/23/29 (Call 07/23/28)^(a)(c)		33,494		37,168,851
4.25%, 10/01/27		10,928		12,015,883
4.26%, 02/22/48 (Call 02/22/47)^(c)		23,037		26,892,265
4.45%, 12/05/29 (Call 12/05/28)^(a)(c)		23,399		26,516,484
4.85%, 02/01/44		11,428		14,356,946
4.95%, 06/01/45		20,557		25,499,978
5.40%, 01/06/42^(a)		15,628		20,707,775
5.50%, 10/15/40		15,380		20,283,633
5.60%, 07/15/41		18,849		25,471,824
5.63%, 08/16/43		10,729		14,202,499
6.40%, 05/15/38		27,519		39,248,666
KeyBank N.A./Cleveland OH
2.30%, 09/14/22		11,295		11,375,383
3.30%, 06/01/25		11,021		11,679,428
KeyCorp., 4.10%, 04/30/28^(a)		10,616		11,675,733
Lloyds Banking Group PLC
2.91%, 11/07/23 (Call 11/07/22)^(c)		22,974		23,289,755
3.57%, 11/07/28 (Call 11/07/27)^(a)(c)		29,226		30,359,767
3.75%, 01/11/27		12,040		12,734,759
3.90%, 03/12/24^(a)		8,665		9,152,828
4.05%, 08/16/23		19,481		20,630,254
4.34%, 01/09/48^(a)		17,416		18,444,632
4.38%, 03/22/28		14,765		16,300,811
4.45%, 05/08/25^(a)		29,830		32,657,624
4.50%, 11/04/24		9,829		10,499,310
4.55%, 08/16/28^(a)		10,291		11,541,340
4.58%, 12/10/25		17,670		18,977,333
4.65%, 03/24/26^(a)		18,060		19,476,547
5.30%, 12/01/45^(a)		8,962		10,771,734
M&T Bank Corp., 3.55%, 07/26/23 (Call 06/26/23)^(a)		2,320		2,433,040


Security	Par (000)		Value

Banks (continued)
Manufacturers & Traders Trust Co., 2.90%, 02/06/25 (Call 01/06/25)	$	9,676	$	10,010,754
Mitsubishi UFJ Financial Group Inc.
2.67%, 07/25/22^(a)		11,570		11,714,794
2.76%, 09/13/26^(a)		18,135		18,353,842
2.80%, 07/18/24^(a)		12,375		12,618,609
3.20%, 07/18/29		18,025		18,700,698
3.29%, 07/25/27^(a)		12,467		13,055,201
3.41%, 03/07/24		20,141		21,038,350
3.46%, 03/02/23		20,754		21,508,848
3.68%, 02/22/27^(a)		16,055		17,155,170
3.74%, 03/07/29		27,421		29,753,345
3.75%, 07/18/39^(a)		15,661		16,923,369
3.76%, 07/26/23^(a)		6,250		6,577,611
3.78%, 03/02/25		6,774		7,226,073
3.85%, 03/01/26^(a)		29,975		32,228,853
3.96%, 03/02/28^(a)		9,948		10,929,194
4.05%, 09/11/28		12,620		13,983,016
Mizuho Financial Group Inc.
2.60%, 09/11/22^(a)		8,967		9,059,993
2.84%, 09/13/26^(a)		14,329		14,532,829
3.15%, 07/16/30 (Call 07/16/29)^(c)		7,980		8,180,375
3.17%, 09/11/27		6,606		6,853,575
3.55%, 03/05/23		8,830		9,188,154
3.92%, 09/11/24 (Call 09/11/23)^(a)(c)		11,419		12,004,340
4.02%, 03/05/28^(a)		17,415		19,174,739
4.25%, 09/11/29 (Call 09/11/28)^(a)(c)		16,884		18,807,905
Morgan Stanley
2.72%, 07/22/25 (Call 07/22/24)^(a)(c)		18,460		18,719,548
3.13%, 01/23/23		23,732		24,417,299
3.13%, 07/27/26		36,329		37,718,704
3.59%, 07/22/28 (Call 07/22/27)^(c)		29,626		31,275,845
3.63%, 01/20/27^(a)		33,482		35,678,998
3.70%, 10/23/24		39,145		41,649,630
3.74%, 04/24/24 (Call 04/24/23)^(a)(c)		36,024		37,714,678
3.75%, 02/25/23^(a)		24,878		26,151,813
3.77%, 01/24/29 (Call 01/24/28)^(c)		27,337		29,205,276
3.88%, 01/27/26		36,682		39,513,352
3.95%, 04/23/27		22,512		24,022,427
3.97%, 07/22/38 (Call 07/22/37)^(c)		22,961		25,106,283
4.00%, 07/23/25^(a)		32,580		35,291,904
4.10%, 05/22/23^(a)		15,893		16,820,643
4.30%, 01/27/45^(a)		27,110		31,363,822
4.35%, 09/08/26^(a)		29,454		32,034,218
4.38%, 01/22/47^(a)		28,669		33,769,401
4.43%, 01/23/30 (Call 01/23/29)^(a)(c)		33,760		37,888,112
4.46%, 04/22/39 (Call 04/22/38)^(a)(c)		10,168		11,770,948
4.88%, 11/01/22		20,879		22,412,669
5.00%, 11/24/25^(a)		17,463		19,654,601
6.38%, 07/24/42		24,052		35,024,034
7.25%, 04/01/32		13,811		19,668,944
Series F, 3.88%, 04/29/24		30,156		32,143,308
National Australia Bank Ltd./New York
2.50%, 07/12/26		16,323		16,484,710
3.00%, 01/20/23^(a)		5,026		5,176,323
3.38%, 01/14/26		7,913		8,390,760
3.63%, 06/20/23		6,930		7,305,034
Northern Trust Corp., 3.95%, 10/30/25^(a)		9,230		10,064,027
PNC Bank N.A.
2.45%, 07/28/22 (Call 06/28/22)^(a)		1,367		1,383,805


Security	Par (000)		Value

Banks (continued)
2.55%, 12/09/21 (Call 11/09/21)^(a)	$	5,912	$	5,982,687
2.63%, 02/17/22 (Call 01/18/22)		2,762		2,803,862
2.70%, 11/01/22 (Call 10/01/22)		11,914		12,111,668
2.95%, 01/30/23 (Call 12/30/22)		6,032		6,178,487
2.95%, 02/23/25 (Call 01/24/25)		12,022		12,472,928
3.10%, 10/25/27 (Call 09/25/27)		13,889		14,615,993
3.25%, 06/01/25 (Call 05/02/25)^(a)		11,718		12,354,004
3.50%, 06/08/23 (Call 05/09/23)		7,035		7,382,090
3.80%, 07/25/23 (Call 06/25/23)		4,384		4,620,891
4.05%, 07/26/28^(a)		15,649		17,389,167
PNC Financial Services Group Inc. (The)
2.60%, 07/23/26 (Call 05/23/26)^(a)		2,495		2,539,643
3.15%, 05/19/27 (Call 04/19/27)^(a)		4,086		4,307,330
3.30%, 03/08/22 (Call 02/06/22)		10,551		10,871,345
3.45%, 04/23/29 (Call 01/23/29)		10,494		11,300,856
3.50%, 01/23/24 (Call 12/23/23)^(a)		9,666		10,218,397
3.90%, 04/29/24 (Call 03/29/24)		8,062		8,635,970
Regions Financial Corp.
2.75%, 08/14/22 (Call 07/14/22)^(a)		6,328		6,444,515
3.80%, 08/14/23 (Call 07/14/23)^(a)		7,907		8,362,962
Royal Bank of Canada
2.25%, 11/01/24		12,000		12,024,301
2.55%, 07/16/24^(a)		10,968		11,126,992
3.70%, 10/05/23		23,223		24,563,720
4.65%, 01/27/26^(a)		16,040		17,820,515
Royal Bank of Scotland Group PLC
3.88%, 09/12/23		29,234		30,479,056
4.27%, 03/22/25 (Call 03/22/24)^(a)(c)		18,712		19,841,782
4.45%, 05/08/30 (Call 05/08/29)^(a)(c)		15,470		16,968,130
4.52%, 06/25/24 (Call 06/25/23)^(a)(c)		12,477		13,244,808
4.80%, 04/05/26^(a)		17,105		18,937,188
4.89%, 05/18/29 (Call 05/18/28)^(c)		27,087		30,437,377
5.08%, 01/27/30 (Call 01/27/29)^(a)(c)		18,803		21,502,171
5.13%, 05/28/24^(a)		21,693		23,415,635
6.00%, 12/19/23		21,543		23,887,962
6.10%, 06/10/23^(a)		12,054		13,261,395
6.13%, 12/15/22		25,060		27,308,914
Santander Holdings USA Inc.
3.24%, 10/05/26 (Call 08/05/26)^(b)		200		201,571
3.40%, 01/18/23 (Call 12/18/22)		7,254		7,451,946
3.50%, 06/07/24 (Call 05/07/24)^(a)		10,455		10,752,428
4.40%, 07/13/27 (Call 04/14/27)		11,218		12,040,015
4.50%, 07/17/25 (Call 04/17/25)^(a)		9,519		10,255,941
Santander UK Group Holdings PLC
3.37%, 01/05/24 (Call 01/05/23)^(c)		14,673		14,980,392
3.57%, 01/10/23 (Call 01/10/22)^(a)		9,606		9,809,377
3.82%, 11/03/28 (Call 11/03/27)^(a)(c)		13,774		14,519,649
4.80%, 11/15/24 (Call 11/15/23)^(c)		11,123		11,994,768
Santander UK PLC
2.88%, 06/18/24		8,435		8,605,406
4.00%, 03/13/24^(a)		7,341		7,847,726
State Street Corp.
2.65%, 05/19/26^(a)		11,674		11,923,194
3.10%, 05/15/23^(a)		8,796		9,087,466
3.30%, 12/16/24^(a)		6,338		6,700,609
3.55%, 08/18/25^(a)		12,768		13,741,594
3.70%, 11/20/23^(a)		7,360		7,845,839
Sumitomo Mitsui Banking Corp., 3.20%, 07/18/22		5,518		5,668,542
Sumitomo Mitsui Financial Group Inc. 2.63%, 07/14/26^(a)		28,515		28,621,891


Security	Par (000)		Value

Banks (continued)
2.70%, 07/16/24^(a)	$	22,225	$	22,543,455
2.78%, 07/12/22		20,002		20,327,138
2.78%, 10/18/22^(a)		10,611		10,807,013
3.01%, 10/19/26^(a)		17,406		17,866,464
3.04%, 07/16/29		11,850		12,141,944
3.10%, 01/17/23		16,300		16,729,073
3.35%, 10/18/27^(a)		9,192		9,666,405
3.36%, 07/12/27^(a)		22,323		23,451,970
3.45%, 01/11/27^(a)		11,087		11,690,871
3.54%, 01/17/28^(a)		17,334		18,477,777
3.75%, 07/19/23		10,720		11,271,203
3.78%, 03/09/26		21,349		22,958,394
3.94%, 10/16/23^(a)		977		1,036,845
3.94%, 07/19/28^(a)		450		494,035
SunTrust Bank/Atlanta GA
2.45%, 08/01/22 (Call 07/01/22)		12,893		13,026,596
3.20%, 04/01/24 (Call 03/01/24)^(a)		6,985		7,283,198
3.30%, 05/15/26 (Call 04/15/26)^(a)		5,816		6,076,992
SunTrust Banks Inc., 4.00%, 05/01/25 (Call 03/01/25)^(a)		15,525		16,838,923
Svenska Handelsbanken AB, 3.90%, 11/20/23		2,175		2,324,927
Synchrony Bank, 3.00%, 06/15/22 (Call 05/15/22)		3,269		3,315,032
Toronto-Dominion Bank (The)
1.80%, 07/13/21		1,897		1,895,309
2.65%, 06/12/24^(a)		23,546		24,098,001
3.25%, 03/11/24		10,668		11,178,480
3.50%, 07/19/23		12,692		13,384,856
U.S. Bancorp.
2.40%, 07/30/24 (Call 06/28/24)^(a)		3,889		3,957,181
3.00%, 07/30/29 (Call 04/30/29)^(a)		8,149		8,443,172
3.10%, 04/27/26 (Call 03/27/26)		11,948		12,476,160
3.38%, 02/05/24 (Call 01/05/24)		11,318		11,952,235
3.60%, 09/11/24 (Call 08/11/24)^(a)		8,579		9,145,638
3.70%, 01/30/24 (Call 12/29/23)^(a)		6,752		7,198,724
3.90%, 04/26/28 (Call 03/24/28)^(a)		13,820		15,507,450
3.95%, 11/17/25 (Call 10/17/25)^(a)		10,030		11,069,101
Series V, 2.38%, 07/22/26 (Call 06/22/26)^(a)		18,807		19,036,523
Series X, 3.15%, 04/27/27 (Call 03/27/27)		19,420		20,541,223
U.S. Bank N.A./Cincinnati OH
2.80%, 01/27/25 (Call 12/27/24)^(a)		15,389		15,968,300
2.85%, 01/23/23 (Call 12/23/22)		4,596		4,728,156
3.40%, 07/24/23 (Call 06/23/23)^(a)		11,262		11,826,089
Wachovia Corp., 5.50%, 08/01/35^(a)		7,015		8,789,606
Wells Fargo & Co.
2.41%, 10/30/25 (Call 10/30/24)^(c)		20,000		20,002,000
2.63%, 07/22/22		19,038		19,291,999
2.88%, 10/30/30 (Call 10/30/29)^(c)		23,000		23,044,275
3.00%, 02/19/25		31,498		32,424,271
3.00%, 04/22/26^(a)		37,284		38,291,302
3.00%, 10/23/26^(a)		41,469		42,601,037
3.07%, 01/24/23 (Call 01/24/22)		39,116		39,870,634
3.20%, 06/17/27 (Call 06/17/26)^(c)		27,777		28,728,376
3.30%, 09/09/24^(a)		14,886		15,551,172
3.50%, 03/08/22^(a)		1,142		1,178,009
3.55%, 09/29/25		30,969		32,873,519
3.58%, 05/22/28 (Call 05/22/27)^(c)		34,183		36,241,562
3.75%, 01/24/24 (Call 12/24/23)		34,785		36,792,119
3.90%, 05/01/45		22,099		24,699,988
4.10%, 06/03/26^(a)		33,249		35,735,260
4.13%, 08/15/23		11,635		12,339,139


Security	Par (000)		Value

Banks (continued)
4.15%, 01/24/29 (Call 10/24/28)^(a)	$	30,457	$	33,764,591
4.30%, 07/22/27		29,608		32,491,603
4.40%, 06/14/46^(a)		23,310		26,391,906
4.65%, 11/04/44		21,560		25,181,403
4.75%, 12/07/46		22,118		26,240,988
4.90%, 11/17/45		23,854		28,833,351
5.38%, 02/07/35^(a)		6,079		7,763,484
5.38%, 11/02/43^(a)		20,031		25,313,403
5.61%, 01/15/44		25,922		33,758,768
Series M, 3.45%, 02/13/23^(a)		21,928		22,693,572
Wells Fargo Bank N.A.
3.55%, 08/14/23 (Call 07/14/23)		29,628		31,143,825
5.85%, 02/01/37		9,981		13,171,551
6.60%, 01/15/38^(a)		15,873		22,674,582
Westpac Banking Corp.
2.50%, 06/28/22^(a)		3,574		3,626,780
2.70%, 08/19/26		8,479		8,714,002
2.75%, 01/11/23		13,109		13,407,361
2.85%, 05/13/26		19,840		20,500,503
3.30%, 02/26/24^(a)		13,789		14,452,113
3.35%, 03/08/27		9,912		10,570,171
3.40%, 01/25/28^(a)		14,266		15,391,256
3.65%, 05/15/23^(a)		9,471		9,989,679
4.42%, 07/24/39		12,405		13,652,905

				8,695,484,157

Beverages — 3.3%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)^(a)		55,187		59,094,284
4.70%, 02/01/36 (Call 08/01/35)		62,036		71,975,718
4.90%, 02/01/46 (Call 08/01/45)		113,731		136,065,699
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23		1		511
3.30%, 02/01/23 (Call 12/01/22)		25,202		26,206,156
3.65%, 02/01/26 (Call 11/01/25)		3,839		4,121,917
3.70%, 02/01/24		11,432		12,198,280
4.00%, 01/17/43^(a)		8,246		8,628,103
4.63%, 02/01/44		13,068		14,878,192
4.90%, 02/01/46 (Call 08/01/45)^(a)		11,055		13,141,514
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42^(a)		9,565		9,780,214
4.00%, 04/13/28 (Call 01/13/28)		31,747		35,021,865
4.15%, 01/23/25 (Call 12/23/24)		42,033		45,987,578
4.38%, 04/15/38 (Call 10/15/37)		15,554		17,504,157
4.44%, 10/06/48 (Call 04/06/48)		20,158		22,846,704
4.60%, 04/15/48 (Call 10/15/47)		29,074		33,385,674
4.75%, 01/23/29 (Call 10/23/28)^(a)		43,405		50,406,756
4.75%, 04/15/58 (Call 10/15/57)^(a)		21,615		25,368,194
4.90%, 01/23/31 (Call 10/23/30)^(a)		13,752		16,458,440
4.95%, 01/15/42^(a)		18,440		21,833,362
5.45%, 01/23/39 (Call 07/23/38)		21,615		27,188,279
5.55%, 01/23/49 (Call 07/23/48)^(a)		42,513		55,921,775
5.80%, 01/23/59 (Call 07/23/58)^(a)		21,397		29,013,202
8.20%, 01/15/39		8,179		13,011,907
Coca-Cola Co. (The)
1.75%, 09/06/24		5,075		5,048,160
2.13%, 09/06/29		11,259		11,108,464
2.25%, 09/01/26^(a)		13,765		13,895,210
2.50%, 04/01/23^(a)		5,888		6,026,961
2.88%, 10/27/25^(a)		23,011		24,182,775


Security	Par (000)		Value

Beverages (continued)
3.20%, 11/01/23^(a)	$	13,147	$	13,854,276
Constellation Brands Inc.
3.15%, 08/01/29 (Call 05/01/29)		4,615		4,713,381
4.25%, 05/01/23^(a)		8,627		9,223,652
Diageo Capital PLC, 2.63%, 04/29/23 (Call 01/29/23)^(a)		19,659		20,048,881
Keurig Dr Pepper Inc.
4.06%, 05/25/23 (Call 04/25/23)^(b)		200		211,836
4.06%, 05/25/23 (Call 04/25/23)^(a)		20,830		22,033,235
4.42%, 05/25/25 (Call 03/25/25)		6,568		7,207,268
4.60%, 05/25/28 (Call 02/25/28)		19,457		22,050,122
5.09%, 05/25/48 (Call 11/25/47)		9,456		11,343,264
Molson Coors Brewing Co.
2.10%, 07/15/21 (Call 06/15/21)^(a)		3,861		3,862,205
3.00%, 07/15/26 (Call 04/15/26)^(a)		21,905		22,071,160
4.20%, 07/15/46 (Call 01/15/46)^(a)		19,433		19,181,920
5.00%, 05/01/42^(a)		15,429		16,746,376
PepsiCo Inc.
2.38%, 10/06/26 (Call 07/06/26)^(a)		14,042		14,283,975
2.63%, 07/29/29 (Call 04/29/29)^(a)		12,150		12,548,575
2.75%, 03/01/23^(a)		12,068		12,458,571
2.75%, 04/30/25 (Call 01/30/25)		18,578		19,397,572
2.85%, 02/24/26 (Call 11/24/25)		8,933		9,336,762
2.88%, 10/15/49 (Call 04/15/49)		10,000		9,749,014
3.00%, 10/15/27 (Call 07/15/27)		8,843		9,394,929
3.38%, 07/29/49 (Call 01/29/49)		9,656		10,299,598
3.45%, 10/06/46 (Call 04/06/46)		17,339		18,796,388
3.60%, 03/01/24 (Call 12/01/23)^(a)		12,480		13,332,596
4.00%, 03/05/42		13,464		15,540,343
4.00%, 05/02/47 (Call 11/02/46)^(a)		10,942		12,860,286
4.45%, 04/14/46 (Call 10/14/45)		14,264		17,842,498

				1,158,688,734

Biotechnology — 1.9%
Amgen Inc.
2.25%, 08/19/23 (Call 06/19/23)		6,484		6,516,784
2.60%, 08/19/26 (Call 05/19/26)		13,697		13,820,565
3.13%, 05/01/25 (Call 02/01/25)		19,058		19,819,872
3.20%, 11/02/27 (Call 08/02/27)^(a)		5,564		5,816,816
3.63%, 05/22/24 (Call 02/22/24)		14,067		14,923,082
4.40%, 05/01/45 (Call 11/01/44)^(a)		23,951		26,903,205
4.56%, 06/15/48 (Call 12/15/47)^(a)		20,051		23,070,677
4.66%, 06/15/51 (Call 12/15/50)		28,811		33,660,148
5.15%, 11/15/41 (Call 05/15/41)		17,097		20,725,794
Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25)		14,663		15,817,469
Biogen Inc.
3.63%, 09/15/22^(a)		13,946		14,579,100
4.05%, 09/15/25 (Call 06/15/25)		17,185		18,836,901
5.20%, 09/15/45 (Call 03/15/45)		19,431		23,727,153
Celgene Corp.
2.75%, 02/15/23 (Call 01/15/23)		13,495		13,751,038
3.25%, 02/20/23 (Call 01/20/23)		9,430		9,751,137
3.45%, 11/15/27 (Call 08/15/27)		19,328		20,547,865
3.63%, 05/15/24 (Call 02/15/24)		13,766		14,536,406
3.88%, 08/15/25 (Call 05/15/25)		35,512		38,281,418
3.90%, 02/20/28 (Call 11/20/27)		17,480		19,191,493
4.35%, 11/15/47 (Call 05/15/47)		13,373		15,628,224
4.55%, 02/20/48 (Call 08/20/47)		18,816		22,737,074
4.63%, 05/15/44 (Call 11/15/43)		7,837		9,401,232
5.00%, 08/15/45 (Call 02/15/45)		24,552		31,146,375
Gilead Sciences Inc. 2.50%, 09/01/23 (Call 07/01/23)		9,287		9,439,825


Security	Par (000)		Value

Biotechnology (continued)
2.95%, 03/01/27 (Call 12/01/26)^(a)	$	21,753	$	22,624,379
3.25%, 09/01/22 (Call 07/01/22)^(a)		10,763		11,170,162
3.50%, 02/01/25 (Call 11/01/24)^(a)		9,302		9,883,409
3.65%, 03/01/26 (Call 12/01/25)^(a)		27,516		29,615,452
3.70%, 04/01/24 (Call 01/01/24)^(a)		12,860		13,676,161
4.00%, 09/01/36 (Call 03/01/36)^(a)		12,394		13,789,409
4.15%, 03/01/47 (Call 09/01/46)^(a)		18,718		20,726,623
4.50%, 02/01/45 (Call 08/01/44)		9,677		11,152,859
4.60%, 09/01/35 (Call 03/01/35)		13,680		16,166,350
4.75%, 03/01/46 (Call 09/01/45)		27,821		33,313,639
4.80%, 04/01/44 (Call 10/01/43)		21,907		26,174,247
5.65%, 12/01/41 (Call 06/01/41)^(a)		10,268		13,378,382

				664,300,725

Chemicals — 1.3%
Dow Chemical Co. (The)
3.00%, 11/15/22 (Call 08/15/22)^(a)		3,596		3,682,644
3.50%, 10/01/24 (Call 07/01/24)^(a)		6,424		6,716,787
3.63%, 05/15/26 (Call 03/15/26)^(b)		11,940		12,493,112
4.13%, 11/15/21 (Call 08/15/21)		1,699		1,762,698
4.38%, 11/15/42 (Call 05/15/42)		14,850		15,538,534
4.80%, 05/15/49 (Call 11/15/48)^(a)(b)		11,610		12,908,134
5.25%, 11/15/41 (Call 05/15/41)		12,834		14,740,482
5.55%, 11/30/48 (Call 05/30/48)^(b)		3,073		3,748,728
7.38%, 11/01/29		11,483		15,212,648
9.40%, 05/15/39^(a)		11,933		19,659,014
DuPont de Nemours Inc.
4.21%, 11/15/23 (Call 10/15/23)		27,371		29,378,635
4.49%, 11/15/25 (Call 09/15/25)		32,830		36,372,107
4.73%, 11/15/28 (Call 08/15/28)^(a)		24,023		27,368,496
5.32%, 11/15/38 (Call 05/15/38)^(a)		18,263		21,892,589
5.42%, 11/15/48 (Call 05/15/48)^(a)		25,893		32,183,937
Eastman Chemical Co.
3.60%, 08/15/22 (Call 05/15/22)		3,503		3,618,008
4.65%, 10/15/44 (Call 04/15/44)^(a)		9,754		10,389,653
Ecolab Inc., 2.70%, 11/01/26 (Call 08/01/26)		15,686		16,087,562
LYB International Finance BV
4.00%, 07/15/23		8,585		9,096,466
4.88%, 03/15/44 (Call 09/15/43)		4,895		5,328,188
5.25%, 07/15/43^(a)		14,476		16,492,130
LYB International Finance II BV, 3.50%, 03/02/27 (Call 12/02/26)^(a)		6,878		7,146,727
LYB International Finance III LLC, 4.20%, 10/15/49 (Call 04/15/49)		12,000		12,046,489
LyondellBasell Industries NV
4.63%, 02/26/55 (Call 08/26/54)		11,179		11,509,725
5.75%, 04/15/24 (Call 01/15/24)		9,401		10,637,857
Mosaic Co. (The), 4.25%, 11/15/23 (Call 08/15/23)^(a)		7,668		8,177,040
Nutrien Ltd.
4.20%, 04/01/29 (Call 01/01/29)^(a)		13,000		14,377,488
5.00%, 04/01/49 (Call 10/01/48)		8,820		10,386,865
Rohm & Haas Co., 7.85%, 07/15/29		10,730		14,337,384
Sherwin-Williams Co. (The)
2.95%, 08/15/29 (Call 05/15/29)^(a)		500		505,194
3.45%, 06/01/27 (Call 03/01/27)^(a)		25,171		26,529,086
4.50%, 06/01/47 (Call 12/01/46)		11,902		13,388,810

				443,713,217

Commercial Services — 0.3%
Global Payments Inc. 2.65%, 02/15/25 (Call 01/15/25)^(a)		9,650		9,777,359


Security	Par (000)		Value

Commercial Services (continued)
3.20%, 08/15/29 (Call 05/15/29)^(a)	$	12,950	$	13,197,852
4.15%, 08/15/49 (Call 02/15/49)^(a)		6,578		6,896,834
4.80%, 04/01/26 (Call 01/01/26)^(a)		7,811		8,779,351
IHS Markit Ltd., 4.75%, 08/01/28 (Call 05/01/28)		3,195		3,582,474
PayPal Holdings Inc.
2.40%, 10/01/24 (Call 09/01/24)		15,651		15,767,129
2.65%, 10/01/26 (Call 08/01/26)		17,285		17,493,173
2.85%, 10/01/29 (Call 07/01/29)		19,930		20,040,855
RELX Capital Inc.
3.13%, 10/15/22 (Call 07/15/22)		7,905		8,089,348
4.00%, 03/18/29 (Call 12/18/28)^(a)		11,342		12,471,475
S&P Global Inc., 4.40%, 02/15/26 (Call 11/15/25)		3,190		3,573,196

				119,669,046

Computers — 3.7%
Apple Inc.
1.80%, 09/11/24 (Call 08/11/24)		7,775		7,743,956
2.05%, 09/11/26 (Call 07/11/26)		20,100		20,021,978
2.10%, 09/12/22 (Call 08/12/22)^(a)		6,816		6,874,935
2.20%, 09/11/29 (Call 06/11/29)		20,645		20,298,521
2.40%, 01/13/23 (Call 12/13/22)^(a)		4,579		4,662,148
2.40%, 05/03/23^(a)		58,815		59,834,887
2.45%, 08/04/26 (Call 05/04/26)		26,481		27,043,287
2.50%, 02/09/25^(a)		18,485		18,964,201
2.75%, 01/13/25 (Call 11/13/24)		14,315		14,841,625
2.85%, 02/23/23 (Call 12/23/22)		15,821		16,297,684
2.85%, 05/11/24 (Call 03/11/24)		16,902		17,547,714
2.90%, 09/12/27 (Call 06/12/27)^(a)		24,775		25,907,213
2.95%, 09/11/49 (Call 03/11/49)		20,025		19,423,347
3.00%, 02/09/24 (Call 12/09/23)		20,506		21,408,209
3.00%, 06/20/27 (Call 03/20/27)^(a)		13,960		14,717,169
3.00%, 11/13/27 (Call 08/13/27)^(a)		18,064		19,066,568
3.20%, 05/13/25^(a)		27,153		28,893,507
3.20%, 05/11/27 (Call 02/11/27)^(a)		28,514		30,367,310
3.25%, 02/23/26 (Call 11/23/25)^(a)		36,051		38,424,436
3.35%, 02/09/27 (Call 11/09/26)		26,978		28,973,274
3.45%, 05/06/24^(a)		27,832		29,683,293
3.45%, 02/09/45^(a)		21,916		23,182,085
3.75%, 09/12/47 (Call 03/12/47)^(a)		11,710		13,015,407
3.75%, 11/13/47 (Call 05/13/47)		13,300		14,780,395
3.85%, 05/04/43^(a)		31,882		35,690,828
3.85%, 08/04/46 (Call 02/04/46)^(a)		19,418		21,806,715
4.25%, 02/09/47 (Call 08/09/46)^(a)		11,396		13,563,155
4.38%, 05/13/45^(a)		20,631		24,866,187
4.45%, 05/06/44^(a)		12,359		15,048,034
4.50%, 02/23/36 (Call 08/23/35)^(a)		14,631		17,775,698
4.65%, 02/23/46 (Call 08/23/45)^(a)		39,371		49,256,814
Dell International LLC/EMC Corp.
4.00%, 07/15/24 (Call 06/15/24)^(b)		11,880		12,433,621
4.90%, 10/01/26 (Call 08/01/26)^(a)(b)		36,210		39,286,155
5.30%, 10/01/29 (Call 07/01/29)^(a)(b)		19,430		21,461,851
5.45%, 06/15/23 (Call 04/15/23)^(a)(b)		37,388		40,617,467
6.02%, 06/15/26 (Call 03/15/26)^(b)		45,374		51,856,552
8.10%, 07/15/36 (Call 01/15/36)^(a)(b)		17,594		22,615,359
8.35%, 07/15/46 (Call 01/15/46)^(a)(b)		22,221		29,587,239
Hewlett Packard Enterprise Co.
4.40%, 10/15/22 (Call 08/15/22)^(a)		18,595		19,695,659
4.90%, 10/15/25 (Call 07/15/25)^(a)		26,860		29,984,221
6.20%, 10/15/35 (Call 04/15/35)^(a)		6,671		8,006,445
6.35%, 10/15/45 (Call 04/15/45)^(a)		18,038		21,438,793
HP Inc., 6.00%, 09/15/41^(a)		14,041		16,219,043


Security	Par (000)		Value

Computers (continued)
IBM Credit LLC, 3.00%, 02/06/23^(a)	$	7,496	$	7,725,089
International Business Machines Corp.
2.88%, 11/09/22		8,004		8,215,049
3.00%, 05/15/24^(a)		38,123		39,514,375
3.30%, 05/15/26^(a)		33,068		34,969,351
3.38%, 08/01/23^(a)		13,327		13,955,376
3.45%, 02/19/26^(a)		12,477		13,292,452
3.50%, 05/15/29^(a)		43,200		46,366,452
3.63%, 02/12/24		21,280		22,587,237
4.00%, 06/20/42^(a)		14,769		16,230,379
4.15%, 05/15/39		26,498		29,941,110
4.25%, 05/15/49^(a)		33,625		38,317,204
Seagate HDD Cayman
4.25%, 03/01/22 (Call 02/01/22)		27		27,908
4.75%, 06/01/23^(a)		763		804,011

				1,285,128,978

Cosmetics & Personal Care — 0.3%
Procter & Gamble Co. (The)
2.45%, 11/03/26^(a)		16,460		16,920,032
2.85%, 08/11/27^(a)		13,896		14,700,378
3.10%, 08/15/23^(a)		13,314		13,996,698
5.55%, 03/05/37		760		1,054,667
Unilever Capital Corp.
2.13%, 09/06/29 (Call 06/06/29)		12,975		12,763,513
2.20%, 05/05/22 (Call 04/05/22)^(a)		3,494		3,523,932
2.60%, 05/05/24 (Call 03/05/24)		100		102,491
2.90%, 05/05/27 (Call 02/05/27)^(a)		3,524		3,683,252
3.50%, 03/22/28 (Call 12/22/27)^(a)		9,864		10,766,679
5.90%, 11/15/32^(a)		12,728		17,347,022

				94,858,664

Diversified Financial Services — 2.8%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.88%, 08/14/24 (Call 07/14/24)		9,540		9,590,864
3.50%, 01/15/25 (Call 11/15/24)^(a)		11,214		11,579,167
3.65%, 07/21/27 (Call 04/21/27)		10,385		10,696,959
4.88%, 01/16/24 (Call 12/16/23)^(a)		2,325		2,524,940
Air Lease Corp.
3.00%, 09/15/23 (Call 07/15/23)^(a)		5,818		5,925,042
3.75%, 06/01/26 (Call 04/01/26)		9,385		9,860,396
American Express Co.
2.50%, 07/30/24 (Call 06/30/24)		16,823		17,073,860
2.65%, 12/02/22^(a)		12,990		13,258,849
3.00%, 10/30/24 (Call 09/29/24)^(a)		23,848		24,791,637
3.13%, 05/20/26 (Call 04/20/26)^(a)		13,152		13,760,688
3.40%, 02/27/23 (Call 01/27/23)^(a)		16,744		17,438,675
3.40%, 02/22/24 (Call 01/22/24)		18,324		19,248,972
3.70%, 08/03/23 (Call 07/03/23)		21,553		22,783,812
4.05%, 12/03/42^(a)		9,571		11,093,487
4.20%, 11/06/25 (Call 10/06/25)^(a)		6,533		7,222,906
American Express Credit Corp., 3.30%, 05/03/27 (Call 04/03/27)^(a)		19,257		20,674,490
Ameriprise Financial Inc., 4.00%, 10/15/23		6,125		6,546,284
Brookfield Finance Inc.
4.00%, 04/01/24 (Call 02/01/24)^(a)		5,985		6,372,668
4.70%, 09/20/47 (Call 03/20/47)		11,594		12,989,979
4.85%, 03/29/29 (Call 12/29/28)^(a)		750		852,304
Capital One Bank USA N.A., 3.38%, 02/15/23		11,222		11,557,415


Security	Par (000)		Value

Diversified Financial Services (continued)
Capital One Financial Corp.
3.05%, 03/09/22 (Call 02/09/22)	$	3,822	$	3,897,508
3.20%, 01/30/23 (Call 12/30/22)^(a)		13,467		13,840,433
3.20%, 02/05/25 (Call 01/05/25)		10,367		10,733,838
3.30%, 10/30/24 (Call 09/30/24)		13,103		13,633,715
3.50%, 06/15/23^(a)		8,687		9,046,234
3.75%, 04/24/24 (Call 03/24/24)^(a)		7,975		8,424,453
3.75%, 07/28/26 (Call 06/28/26)^(a)		17,895		18,783,510
3.75%, 03/09/27 (Call 02/09/27)^(a)		12,552		13,312,951
3.80%, 01/31/28 (Call 12/31/27)^(a)		21,183		22,513,640
3.90%, 01/29/24 (Call 12/29/23)^(a)		15,054		15,962,145
4.20%, 10/29/25 (Call 09/29/25)^(a)		19,769		21,291,992
4.25%, 04/30/25 (Call 03/31/25)^(a)		7,377		8,029,640
Charles Schwab Corp. (The)
2.65%, 01/25/23 (Call 12/25/22)^(a)		6,026		6,146,499
3.85%, 05/21/25 (Call 03/21/25)^(a)		13,351		14,440,065
CME Group Inc.
3.00%, 09/15/22^(a)		6,049		6,249,570
3.00%, 03/15/25 (Call 12/15/24)^(a)		15,850		16,660,070
5.30%, 09/15/43 (Call 03/15/43)		7,938		10,790,050
Discover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)^(a)		12,148		13,004,745
GE Capital International Funding Co. Unlimited Co.
3.37%, 11/15/25^(a)		21,189		21,759,592
4.42%, 11/15/35		135,501		142,935,073
Intercontinental Exchange Inc.
3.75%, 12/01/25 (Call 09/01/25)		19,974		21,618,146
3.75%, 09/21/28 (Call 06/21/28)		2,050		2,255,997
4.00%, 10/15/23		7,057		7,545,378
4.25%, 09/21/48 (Call 03/21/48)^(a)		14,234		17,026,547
International Lease Finance Corp., 5.88%, 08/15/22^(a)		3,314		3,631,183
Jefferies Financial Group Inc., 5.50%, 10/18/23 (Call 01/18/23)		7,196		7,834,258
Jefferies Group LLC/Jefferies Group Capital Finance Inc.
4.15%, 01/23/30		11,138		11,242,825
4.85%, 01/15/27^(a)		6,066		6,490,977
Mastercard Inc.
2.95%, 11/21/26 (Call 08/21/26)^(a)		9,305		9,801,271
2.95%, 06/01/29 (Call 03/01/29)		21,140		22,294,525
3.38%, 04/01/24^(a)		6,990		7,448,529
3.65%, 06/01/49 (Call 12/01/48)		8,222		9,263,977
Synchrony Financial
3.95%, 12/01/27 (Call 09/01/27)^(a)		13,857		14,408,734
4.25%, 08/15/24 (Call 05/15/24)		12,928		13,680,108
4.50%, 07/23/25 (Call 04/23/25)^(a)		9,258		9,961,797
TD Ameritrade Holding Corp.
2.95%, 04/01/22 (Call 02/01/22)^(a)		6,249		6,385,142
3.30%, 04/01/27 (Call 01/01/27)^(a)		6,426		6,762,516
Visa Inc.
2.75%, 09/15/27 (Call 06/15/27)^(a)		6,898		7,257,293
2.80%, 12/14/22 (Call 10/14/22)^(a)		23,316		24,005,512
3.15%, 12/14/25 (Call 09/14/25)		45,157		48,257,606
3.65%, 09/15/47 (Call 03/15/47)^(a)		15,919		17,940,509
4.15%, 12/14/35 (Call 06/14/35)^(a)		25,536		30,664,162
4.30%, 12/14/45 (Call 06/14/45)		33,626		41,620,168

				994,696,277

Electric — 1.8%
Berkshire Hathaway Energy Co. 3.80%, 07/15/48 (Call 01/15/48)		8,722		9,441,985


Security	Par (000)		Value

Electric (continued)
4.45%, 01/15/49 (Call 07/15/48)	$	15,559	$	18,586,386
4.50%, 02/01/45 (Call 08/01/44)		11,855		14,105,622
5.15%, 11/15/43 (Call 05/15/43)		11,884		15,152,320
6.13%, 04/01/36^(a)		11,248		15,650,933
Commonwealth Edison Co., 4.00%, 03/01/48 (Call 09/01/47)^(a)		3,267		3,771,405
Connecticut Light & Power Co. (The), 4.00%, 04/01/48 (Call 10/01/47)		9,090		10,616,277
Consolidated Edison Co. of New York Inc.
4.45%, 03/15/44 (Call 09/15/43)		10,251		12,081,208
4.63%, 12/01/54 (Call 06/01/54)		9,290		11,132,025
Dominion Energy Inc., 3.90%, 10/01/25 (Call 07/01/25)		9,981		10,742,155
Duke Energy Carolinas LLC, 5.30%, 02/15/40		8,597		11,165,299
Duke Energy Corp.
2.65%, 09/01/26 (Call 06/01/26)		17,958		18,123,905
3.15%, 08/15/27 (Call 05/15/27)		7,348		7,631,574
3.75%, 04/15/24 (Call 01/15/24)		10,457		11,113,005
3.75%, 09/01/46 (Call 03/01/46)^(a)		19,939		20,746,641
Duke Energy Florida LLC, 6.40%, 06/15/38		7,534		10,969,847
Emera U.S. Finance LP
3.55%, 06/15/26 (Call 03/15/26)^(a)		14,669		15,405,070
4.75%, 06/15/46 (Call 12/15/45)^(a)		11,504		13,442,418
Entergy Corp., 2.95%, 09/01/26 (Call 06/01/26)^(a)		10,628		10,841,173
Evergy Inc.
2.45%, 09/15/24 (Call 08/15/24)		10,195		10,260,061
2.90%, 09/15/29 (Call 06/15/29)		10,000		10,050,318
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)^(a)		8,308		8,740,050
3.50%, 06/01/22 (Call 05/01/22)^(a)		4,728		4,863,358
3.95%, 06/15/25 (Call 03/15/25)^(a)		7,684		8,311,681
4.45%, 04/15/46 (Call 10/15/45)		14,224		16,053,069
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)^(a)		4,040		4,771,633
6.25%, 10/01/39^(a)		13,577		16,981,180
FirstEnergy Corp.
Series B, 3.90%, 07/15/27 (Call 04/15/27)		13,831		14,862,516
Series B, 4.25%, 03/15/23 (Call 12/15/22)^(a)		7,297		7,727,033
Series C, 4.85%, 07/15/47 (Call 01/15/47)		14,119		16,882,317
Series C, 7.38%, 11/15/31^(a)		22,152		31,486,913
Florida Power & Light Co.
3.15%, 10/01/49 (Call 04/01/49)		12,640		12,815,978
3.95%, 03/01/48 (Call 09/01/47)^(a)		7,924		9,213,653
Georgia Power Co., 4.30%, 03/15/42^(a)		14,833		16,322,941
MidAmerican Energy Co., 4.25%, 07/15/49 (Call 01/15/49)		9,010		10,997,225
NextEra Energy Capital Holdings Inc.
2.75%, 11/01/29 (Call 08/01/29)		7,385		7,430,292
3.15%, 04/01/24 (Call 03/01/24)^(a)		7,180		7,455,985
3.55%, 05/01/27 (Call 02/01/27)		7,828		8,334,455
Public Service Enterprise Group Inc., 2.88%, 06/15/24 (Call 05/15/24)		8,685		8,912,670
Sempra Energy
3.25%, 06/15/27 (Call 03/15/27)^(a)		3,646		3,737,180
3.40%, 02/01/28 (Call 11/01/27)^(a)		7,784		7,960,476
3.80%, 02/01/38 (Call 08/01/37)		13,055		13,277,841
4.00%, 02/01/48 (Call 08/01/47)		12,667		13,262,590
6.00%, 10/15/39^(a)		6,967		8,861,913
Southern California Edison Co.
4.00%, 04/01/47 (Call 10/01/46)^(a)		15,156		15,895,760
4.65%, 10/01/43 (Call 04/01/43)		14,408		16,268,898


Security	Par (000)		Value

Electric (continued)
Series C, 4.13%, 03/01/48 (Call 09/01/47)	$	14,851	$	15,832,382
Southern Co. (The)
2.95%, 07/01/23 (Call 05/01/23)^(a)		17,238		17,647,385
3.25%, 07/01/26 (Call 04/01/26)^(a)		18,194		18,978,911
4.40%, 07/01/46 (Call 01/01/46)^(a)		24,352		27,429,676
Virginia Electric & Power Co.
Series A, 3.15%, 01/15/26 (Call 10/15/25)		5,425		5,672,636
Series A, 3.50%, 03/15/27 (Call 12/15/26)^(a)		10,027		10,769,988

				648,788,212

Electronics — 0.1%
Fortive Corp., 3.15%, 06/15/26 (Call 03/15/26)^(a)		3,843		3,946,106
Honeywell International Inc.
1.85%, 11/01/21 (Call 10/01/21)		1,734		1,737,330
2.30%, 08/15/24 (Call 07/15/24)^(a)		5,625		5,725,691
2.50%, 11/01/26 (Call 08/01/26)		23,913		24,465,144
2.70%, 08/15/29 (Call 05/15/29)		4,263		4,401,148

				40,275,419

Environmental Control — 0.2%
Republic Services Inc.
2.50%, 08/15/24 (Call 07/15/24)^(a)		3,295		3,349,178
3.55%, 06/01/22 (Call 03/01/22)^(a)		5,703		5,926,157
3.95%, 05/15/28 (Call 02/15/28)		6,861		7,608,811
Waste Management Inc.
2.95%, 06/15/24 (Call 05/15/24)^(a)		8,683		8,986,127
3.15%, 11/15/27 (Call 08/15/27)^(a)		11,530		12,161,787
3.20%, 06/15/26 (Call 04/15/26)^(a)		10,657		11,295,549
3.45%, 06/15/29 (Call 03/15/29)		12,903		13,918,722
4.10%, 03/01/45 (Call 09/01/44)^(a)		5,435		6,197,651
4.15%, 07/15/49 (Call 01/15/49)		12,627		14,629,794

				84,073,776

Food — 1.5%
Campbell Soup Co.
3.65%, 03/15/23 (Call 02/15/23)^(a)		13,182		13,739,187
3.95%, 03/15/25 (Call 01/15/25)^(a)		7,556		8,042,362
4.15%, 03/15/28 (Call 12/15/27)^(a)		6,279		6,771,429
4.80%, 03/15/48 (Call 09/15/47)^(a)		2,958		3,345,038
Conagra Brands Inc.
3.20%, 01/25/23 (Call 10/25/22)^(a)		6,639		6,820,241
4.30%, 05/01/24 (Call 04/01/24)		11,194		12,039,814
4.60%, 11/01/25 (Call 09/01/25)^(a)		6,407		7,093,779
4.85%, 11/01/28 (Call 08/01/28)^(a)		15,829		17,981,139
5.30%, 11/01/38 (Call 05/01/38)		17,867		20,762,635
5.40%, 11/01/48 (Call 05/01/48)^(a)		7,208		8,526,624
General Mills Inc.
3.20%, 02/10/27 (Call 11/10/26)^(a)		7,147		7,542,620
3.70%, 10/17/23 (Call 09/17/23)^(a)		8,676		9,164,588
4.00%, 04/17/25 (Call 02/17/25)^(a)		12,381		13,440,068
4.20%, 04/17/28 (Call 01/17/28)^(a)		17,083		19,081,252
JM Smucker Co. (The)
3.50%, 10/15/21^(a)		3,371		3,470,063
3.50%, 03/15/25^(a)		5,410		5,693,377
Kellogg Co., 3.25%, 04/01/26^(a)		7,844		8,167,354
Kraft Heinz Foods Co.
3.00%, 06/01/26 (Call 03/01/26)^(a)		13,499		13,441,154
3.75%, 04/01/30 (Call 01/01/30)^(a)(b)		10,350		10,567,695
3.95%, 07/15/25 (Call 04/15/25)		29,588		31,152,276
4.00%, 06/15/23 (Call 05/15/23)^(a)		16,506		17,330,097
4.38%, 06/01/46 (Call 12/01/45)		34,495		33,567,085
4.63%, 01/30/29 (Call 10/30/28)^(a)		21,281		23,267,111


Security	Par (000)		Value

Food (continued)
4.88%, 10/01/49 (Call 04/01/49)^(a)(b)	$	16,680	$	17,204,212
5.00%, 07/15/35 (Call 01/15/35)^(a)		5,927		6,393,504
5.00%, 06/04/42^(a)		20,477		21,500,850
5.20%, 07/15/45 (Call 01/15/45)		22,332		23,925,082
6.50%, 02/09/40		8,054		9,757,876
6.88%, 01/26/39^(a)		7,345		9,151,484
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		9,568		9,527,908
4.45%, 02/01/47 (Call 08/01/46)^(a)		9,041		9,353,243
McCormick & Co. Inc./MD
2.70%, 08/15/22 (Call 07/15/22)^(a)		6,128		6,234,190
3.40%, 08/15/27 (Call 05/15/27)^(a)		9,516		10,016,834
Mondelez International Inc., 3.63%, 05/07/23 (Call 04/07/23)^(a)		7,531		7,894,884
Sysco Corp.
3.25%, 07/15/27 (Call 04/15/27)^(a)		10,679		11,229,242
3.30%, 07/15/26 (Call 04/15/26)		2,811		2,956,961
3.75%, 10/01/25 (Call 07/01/25)^(a)		8,224		8,865,225
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)^(a)		13,076		14,001,281
3.95%, 08/15/24 (Call 05/15/24)^(a)		6,213		6,668,110
4.00%, 03/01/26 (Call 01/01/26)^(a)		13,468		14,708,326
4.35%, 03/01/29 (Call 12/01/28)^(a)		18,778		21,364,797
4.50%, 06/15/22 (Call 03/15/22)^(a)		2,797		2,960,246
4.55%, 06/02/47 (Call 12/02/46)		7,568		8,561,576
5.10%, 09/28/48 (Call 03/28/48)^(a)		14,817		18,178,936

				541,461,755

Forest Products & Paper — 0.2%
International Paper Co.
3.00%, 02/15/27 (Call 11/15/26)^(a)		14,628		14,931,819
3.65%, 06/15/24 (Call 03/15/24)^(a)		5,238		5,524,550
4.35%, 08/15/48 (Call 02/15/48)^(a)		10,777		11,172,525
4.40%, 08/15/47 (Call 02/15/47)		10,663		11,062,416
4.80%, 06/15/44 (Call 12/15/43)		12,354		13,359,266

				56,050,576

Gas — 0.2%
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)		4,694		5,420,847
NiSource Inc.
2.95%, 09/01/29 (Call 06/01/29)		6,200		6,256,312
3.49%, 05/15/27 (Call 02/15/27)		11,267		11,864,007
3.95%, 03/30/48 (Call 09/30/47)		11,218		11,971,899
4.38%, 05/15/47 (Call 11/15/46)		11,185		12,595,641
4.80%, 02/15/44 (Call 08/15/43)		9,230		10,803,456

				58,912,162

Health Care – Products — 1.4%
Abbott Laboratories
2.55%, 03/15/22^(a)		4,880		4,951,582
2.90%, 11/30/21 (Call 10/30/21)^(a)		2,830		2,886,629
2.95%, 03/15/25 (Call 12/15/24)^(a)		14,125		14,741,654
3.40%, 11/30/23 (Call 09/30/23)^(a)		10,399		10,976,118
3.75%, 11/30/26 (Call 08/30/26)^(a)		11,533		12,622,330
4.75%, 11/30/36 (Call 05/30/36)		28,613		35,142,037
4.90%, 11/30/46 (Call 05/30/46)^(a)		30,745		39,792,605
Becton Dickinson and Co.
3.36%, 06/06/24 (Call 04/06/24)		14,823		15,509,975
3.70%, 06/06/27 (Call 03/06/27)^(a)		24,034		25,813,196
3.73%, 12/15/24 (Call 09/15/24)^(a)		20,302		21,686,464
4.67%, 06/06/47 (Call 12/06/46)^(a)		15,074		17,893,135
4.69%, 12/15/44 (Call 06/15/44)^(a)		10,794		12,672,982


Security	Par (000)		Value

Health Care – Products (continued)
Boston Scientific Corp.
3.45%, 03/01/24 (Call 02/01/24)	$	6,841	$	7,180,390
3.75%, 03/01/26 (Call 01/01/26)^(a)		13,693		14,773,731
3.85%, 05/15/25^(a)		8,547		9,211,310
4.00%, 03/01/28 (Call 12/01/27)^(a)		14,403		16,024,935
4.00%, 03/01/29 (Call 12/01/28)^(a)		12,387		13,779,995
4.55%, 03/01/39 (Call 09/01/38)^(a)		6,580		7,760,906
4.70%, 03/01/49 (Call 09/01/48)		9,974		12,178,772
Medtronic Inc.
3.50%, 03/15/25		37,013		39,742,953
4.38%, 03/15/35		25,566		30,479,555
4.63%, 03/15/45		16,884		21,677,653
Stryker Corp.
3.38%, 11/01/25 (Call 08/01/25)		5,392		5,741,194
3.50%, 03/15/26 (Call 12/15/25)		11,586		12,380,687
4.63%, 03/15/46 (Call 09/15/45)		11,560		14,064,765
Thermo Fisher Scientific Inc.
2.60%, 10/01/29 (Call 07/01/29)		8,060		8,033,208
2.95%, 09/19/26 (Call 06/19/26)		19,919		20,658,473
3.00%, 04/15/23 (Call 02/15/23)^(a)		5,749		5,929,979
3.20%, 08/15/27 (Call 05/15/27)^(a)		9,292		9,749,233
4.10%, 08/15/47 (Call 02/15/47)^(a)		8,540		9,628,057
4.15%, 02/01/24 (Call 11/01/23)		5,095		5,478,541
Zimmer Biomet Holdings Inc.
3.15%, 04/01/22 (Call 02/01/22)^(a)		2,898		2,957,572
3.55%, 04/01/25 (Call 01/01/25)		17,417		18,417,554

				500,538,170

Health Care – Services — 2.3%
Aetna Inc.
2.75%, 11/15/22 (Call 08/15/22)		7,167		7,268,667
2.80%, 06/15/23 (Call 04/15/23)		9,815		9,961,991
3.50%, 11/15/24 (Call 08/15/24)		11,857		12,363,894
3.88%, 08/15/47 (Call 02/15/47)		9,868		9,551,447
6.63%, 06/15/36^(a)		11,346		14,857,306
Anthem Inc.
2.38%, 01/15/25 (Call 12/15/24)		10,200		10,208,641
2.88%, 09/15/29 (Call 06/15/29)^(a)		10,000		9,902,200
2.95%, 12/01/22 (Call 11/01/22)		6,130		6,270,223
3.30%, 01/15/23^(a)		9,670		10,039,190
3.35%, 12/01/24 (Call 10/01/24)		10,831		11,308,698
3.50%, 08/15/24 (Call 05/15/24)		8,479		8,925,296
3.65%, 12/01/27 (Call 09/01/27)		15,915		16,839,781
3.70%, 09/15/49 (Call 03/15/49)^(a)		10,000		9,659,217
4.10%, 03/01/28 (Call 12/01/27)^(a)		13,472		14,625,179
4.38%, 12/01/47 (Call 06/01/47)		12,400		13,307,219
4.55%, 03/01/48 (Call 09/01/47)^(a)		10,826		11,930,484
4.63%, 05/15/42^(a)		10,881		11,994,752
4.65%, 01/15/43		13,512		14,962,417
4.65%, 08/15/44 (Call 02/15/44)		12,213		13,570,183
CommonSpirit Health
2.76%, 10/01/24 (Call 07/01/24)		10,000		10,154,035
3.35%, 10/01/29 (Call 04/01/29)		13,344		13,456,435
4.19%, 10/01/49 (Call 04/01/49)^(a)		9,095		9,310,035
HCA Inc.
4.13%, 06/15/29 (Call 03/15/29)^(a)		20,554		21,777,224
4.50%, 02/15/27 (Call 08/15/26)^(a)		9,703		10,470,231
4.75%, 05/01/23		6,708		7,184,256
5.00%, 03/15/24		22,006		24,010,005
5.13%, 06/15/39 (Call 12/15/38)^(a)		15,537		17,054,054
5.25%, 04/15/25		16,191		18,026,274


Security	Par (000)		Value

Health Care – Services (continued)
5.25%, 06/15/26 (Call 12/15/25)^(a)	$	27,886	$	31,209,074
5.25%, 06/15/49 (Call 12/15/48)		19,830		21,948,367
5.50%, 06/15/47 (Call 12/15/46)		16,689		19,008,938
Humana Inc., 4.95%, 10/01/44 (Call 04/01/44)		9,030		10,319,121
Kaiser Foundation Hospitals, 4.15%, 05/01/47 (Call 11/01/46)		17,102		20,065,790
Laboratory Corp. of America Holdings
3.60%, 02/01/25 (Call 11/01/24)^(a)		12,700		13,414,186
4.70%, 02/01/45 (Call 08/01/44)		6,036		6,746,381
UnitedHealth Group Inc.
2.38%, 10/15/22		9,330		9,456,503
2.38%, 08/15/24^(a)		11,500		11,661,032
2.88%, 03/15/23		8,221		8,450,467
2.88%, 08/15/29^(a)		16,372		16,814,553
2.95%, 10/15/27^(a)		17,707		18,304,585
3.10%, 03/15/26^(a)		10,165		10,626,795
3.45%, 01/15/27^(a)		4,975		5,318,153
3.50%, 06/15/23^(a)		4,983		5,235,956
3.50%, 02/15/24		7,784		8,238,351
3.50%, 08/15/39 (Call 02/15/39)^(a)		13,010		13,580,382
3.70%, 08/15/49 (Call 02/15/49)^(a)		14,435		15,275,192
3.75%, 07/15/25^(a)		23,706		25,703,472
3.75%, 10/15/47 (Call 04/15/47)		10,085		10,692,355
3.85%, 06/15/28		15,600		17,208,766
3.88%, 12/15/28^(a)		8,623		9,580,763
3.88%, 08/15/59 (Call 02/15/59)^(a)		15,970		16,807,290
4.20%, 01/15/47 (Call 07/15/46)		12,119		13,718,469
4.25%, 03/15/43 (Call 09/15/42)^(a)		7,889		8,875,631
4.25%, 06/15/48 (Call 12/15/47)^(a)		12,515		14,344,448
4.45%, 12/15/48 (Call 06/15/48)^(a)		9,048		10,704,636
4.63%, 07/15/35^(a)		13,600		16,471,405
4.75%, 07/15/45		18,805		22,917,240
5.80%, 03/15/36		10,699		14,290,222
6.88%, 02/15/38		12,419		18,417,232

				794,395,089

Holding Companies – Diversified — 0.0%
Ares Capital Corp., 3.50%, 02/10/23 (Call 01/10/23)^(a)		726		736,761


Housewares — 0.1%
Newell Brands Inc.
3.85%, 04/01/23 (Call 02/01/23)		15,108		15,633,112
4.20%, 04/01/26 (Call 01/01/26)		27,254		28,471,172

				44,104,284

Insurance — 2.1%
Aflac Inc., 3.63%, 11/15/24		6,586		7,042,308
American International Group Inc.
3.75%, 07/10/25 (Call 04/10/25)^(a)		23,024		24,590,564
3.88%, 01/15/35 (Call 07/15/34)		14,679		15,408,163
3.90%, 04/01/26 (Call 01/01/26)		6,582		7,075,091
4.13%, 02/15/24^(a)		10,337		11,109,864
4.20%, 04/01/28 (Call 01/01/28)^(a)		8,492		9,332,277
4.38%, 01/15/55 (Call 07/15/54)^(a)		9,847		10,605,165
4.50%, 07/16/44 (Call 01/16/44)		27,203		30,517,305
4.75%, 04/01/48 (Call 10/01/47)		11,032		12,992,057
4.80%, 07/10/45 (Call 01/10/45)		6,934		8,145,808
6.25%, 05/01/36		6,656		8,810,735
Aon Corp., 3.75%, 05/02/29 (Call 02/02/29)		2,925		3,148,161
Aon PLC, 3.88%, 12/15/25 (Call 09/15/25)		15,804		17,091,881
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)^(a)		11,780		12,246,058


Security	Par (000)		Value

Insurance (continued)
AXA Equitable Holdings Inc.
3.90%, 04/20/23 (Call 03/20/23)^(a)	$	6,883	$	7,210,452
4.35%, 04/20/28 (Call 01/20/28)^(a)		19,702		21,116,280
5.00%, 04/20/48 (Call 10/20/47)^(a)		16,365		17,417,733
Berkshire Hathaway Finance Corp.
4.20%, 08/15/48 (Call 02/15/48)		24,608		28,966,913
4.25%, 01/15/49 (Call 07/15/48)		26,998		32,113,651
5.75%, 01/15/40^(a)		3,996		5,551,289
Berkshire Hathaway Inc.
2.75%, 03/15/23 (Call 01/15/23)^(a)		19,110		19,678,935
3.13%, 03/15/26 (Call 12/15/25)^(a)		30,640		32,592,084
4.50%, 02/11/43^(a)		12,691		15,431,368
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		14,033		13,787,119
4.70%, 06/22/47 (Call 12/22/46)		18,855		16,779,264
Chubb Corp. (The), 6.00%, 05/11/37		10,769		15,017,465
Chubb INA Holdings Inc.
2.88%, 11/03/22 (Call 09/03/22)^(a)		8,806		9,056,270
3.15%, 03/15/25^(a)		15,453		16,360,620
3.35%, 05/03/26 (Call 02/03/26)^(a)		14,232		15,303,388
4.35%, 11/03/45 (Call 05/03/45)		15,927		19,550,901
Manulife Financial Corp.
4.15%, 03/04/26^(a)		4,639		5,157,353
5.38%, 03/04/46^(a)		8,449		11,204,634
Marsh & McLennan Companies Inc.
3.88%, 03/15/24 (Call 02/15/24)		10,276		10,970,466
4.38%, 03/15/29 (Call 12/15/28)		25,356		28,900,495
4.90%, 03/15/49 (Call 09/15/48)^(a)		14,100		17,717,005
MetLife Inc.
3.60%, 04/10/24^(a)		8,879		9,427,677
4.05%, 03/01/45^(a)		11,417		12,872,499
4.13%, 08/13/42^(a)		11,718		13,319,398
4.60%, 05/13/46 (Call 11/13/45)^(a)		6,844		8,364,027
4.88%, 11/13/43^(a)		12,203		15,191,511
5.70%, 06/15/35		10,455		14,092,513
5.88%, 02/06/41^(a)		10,442		14,260,418
6.38%, 06/15/34^(a)		8,321		11,788,618
Series D, 4.37%, 09/15/23^(a)		10,818		11,744,736
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)		10,464		12,184,451
Prudential Financial Inc.
3.70%, 03/13/51 (Call 09/13/50)		17,075		17,852,614
3.91%, 12/07/47 (Call 06/07/47)^(a)		9,046		9,739,602
3.94%, 12/07/49 (Call 06/07/49)		8,486		9,187,525
4.35%, 02/25/50 (Call 08/25/49)		8,699		10,089,201
4.60%, 05/15/44		9,634		11,381,156
5.70%, 12/14/36		5,099		6,755,475
Travelers Companies Inc. (The)
5.35%, 11/01/40^(a)		8,391		11,195,573
6.25%, 06/15/37		10,068		14,376,235

				751,822,351

Internet — 1.1%
Alphabet Inc.
2.00%, 08/15/26 (Call 05/15/26)		13,434		13,439,085
3.38%, 02/25/24^(a)		6,879		7,322,070
Amazon.com Inc.
2.40%, 02/22/23 (Call 01/22/23)		7,453		7,590,290
2.50%, 11/29/22 (Call 08/29/22)^(a)		6,797		6,932,353
2.80%, 08/22/24 (Call 06/22/24)^(a)		27,904		28,997,067
3.15%, 08/22/27 (Call 05/22/27)^(a)		39,929		42,591,709


Security	Par (000)		Value

Internet (continued)
3.30%, 12/05/21 (Call 10/05/21)	$	2,973	$	3,059,716
3.80%, 12/05/24 (Call 09/05/24)^(a)		14,189		15,420,835
3.88%, 08/22/37 (Call 02/22/37)		36,279		41,198,770
4.05%, 08/22/47 (Call 02/22/47)^(a)		39,608		46,985,747
4.25%, 08/22/57 (Call 02/22/57)^(a)		19,949		24,404,236
4.80%, 12/05/34 (Call 06/05/34)^(a)		14,919		18,613,458
4.95%, 12/05/44 (Call 06/05/44)^(a)		19,318		25,311,400
5.20%, 12/03/25 (Call 09/03/25)		7,564		8,898,874
Booking Holdings Inc., 3.60%, 06/01/26 (Call 03/01/26)^(a)		12,572		13,546,218
eBay Inc.
2.60%, 07/15/22 (Call 04/15/22)^(a)		8,736		8,824,912
2.75%, 01/30/23 (Call 12/30/22)^(a)		7,473		7,584,266
3.45%, 08/01/24 (Call 05/01/24)^(a)		10,832		11,332,602
3.60%, 06/05/27 (Call 03/05/27)		12,259		12,780,016
3.80%, 03/09/22 (Call 02/09/22)		3,380		3,506,963
4.00%, 07/15/42 (Call 01/15/42)^(a)		7,846		7,538,977
Expedia Group Inc.
3.25%, 02/15/30 (Call 11/15/29)^(b)		9,030		9,053,195
3.80%, 02/15/28 (Call 11/15/27)		16,345		17,121,646
5.00%, 02/15/26 (Call 11/15/25)		1,635		1,840,866

				383,895,271

Iron & Steel — 0.1%
ArcelorMittal
3.60%, 07/16/24^(a)		9,890		10,124,004
4.25%, 07/16/29^(a)		3,410		3,456,380
4.55%, 03/11/26^(a)		7,821		8,257,405

				21,837,789

Lodging — 0.1%
Las Vegas Sands Corp.
3.20%, 08/08/24 (Call 07/08/24)^(a)		16,342		16,707,508
3.50%, 08/18/26 (Call 06/18/26)^(a)		9,258		9,427,448
3.90%, 08/08/29 (Call 05/08/29)		7,000		7,211,187
Marriott International Inc./MD, Series R, 3.13%, 06/15/26 (Call 03/15/26)^(a)		164		167,392

				33,513,535

Machinery — 0.4%
ABB Finance USA Inc.
3.80%, 04/03/28 (Call 01/03/28)		6,406		7,066,942
4.38%, 05/08/42^(a)		7,935		9,571,711
Caterpillar Inc.
3.25%, 09/19/49 (Call 03/19/49)		10,405		10,618,223
3.40%, 05/15/24 (Call 02/15/24)^(a)		9,947		10,518,342
3.80%, 08/15/42^(a)		19,750		22,003,439
5.20%, 05/27/41^(a)		6,703		8,726,555
Deere & Co.
2.60%, 06/08/22 (Call 03/08/22)^(a)		7,354		7,503,025
3.90%, 06/09/42 (Call 12/09/41)^(a)		11,361		12,937,029
John Deere Capital Corp.
2.80%, 03/06/23^(a)		11,287		11,614,380
3.45%, 03/13/25		4,229		4,516,151
Roper Technologies Inc., 4.20%, 09/15/28 (Call 06/15/28)		4,030		4,462,753
Wabtec Corp.
3.45%, 11/15/26 (Call 08/15/26)		2,430		2,461,638
4.40%, 03/15/24 (Call 02/15/24)		7,336		7,816,483
4.95%, 09/15/28 (Call 06/15/28)		13,263		14,616,961

				134,433,632


Security	Par (000)		Value

Manufacturing — 1.0%
3M Co.
2.00%, 02/14/25 (Call 01/14/25)	$	8,550	$	8,552,960
2.38%, 08/26/29 (Call 05/26/29)^(a)		11,040		11,012,849
2.88%, 10/15/27 (Call 07/15/27)^(a)		8,070		8,412,971
3.25%, 02/14/24 (Call 01/14/24)^(a)		2,452		2,578,677
3.25%, 08/26/49 (Call 02/26/49)		10,325		10,318,049
3.38%, 03/01/29 (Call 12/01/28)^(a)		8,611		9,264,215
3.63%, 09/14/28 (Call 06/14/28)^(a)		3,425		3,766,307
4.00%, 09/14/48 (Call 03/14/48)^(a)		14,206		16,012,148
Eaton Corp.
2.75%, 11/02/22		18,760		19,124,075
4.15%, 11/02/42^(a)		7,996		8,940,952
General Electric Co.
2.70%, 10/09/22		14,890		14,985,756
3.10%, 01/09/23^(a)		12,960		13,172,129
3.38%, 03/11/24^(a)		10,846		11,182,681
4.13%, 10/09/42^(a)		12,251		12,535,043
4.50%, 03/11/44		5,000		5,402,121
5.88%, 01/14/38		33,763		40,348,585
6.15%, 08/07/37		9,521		11,674,339
6.88%, 01/10/39^(a)		24,260		32,129,874
Series A, 6.75%, 03/15/32		31,930		40,671,144
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)		4,126		4,263,038
3.90%, 09/01/42 (Call 03/01/42)^(a)		12,982		15,066,452
Ingersoll-Rand Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)^(a)		14,182		15,158,581
Parker-Hannifin Corp.
3.25%, 06/14/29 (Call 03/14/29)^(a)		13,870		14,550,374
4.00%, 06/14/49 (Call 12/14/48)^(a)		7,656		8,279,302

				337,402,622

Media — 4.8%
CBS Corp.
4.00%, 01/15/26 (Call 10/15/25)		8,096		8,651,977
7.88%, 07/30/30^(a)		7,072		9,885,241
Charter Communications Operating LLC/Charter Communications Operating Capital
3.75%, 02/15/28 (Call 11/15/27)^(a)		18,660		19,201,179
4.20%, 03/15/28 (Call 12/15/27)^(a)		10,666		11,308,599
4.50%, 02/01/24 (Call 01/01/24)		12,765		13,720,805
4.80%, 03/01/50 (Call 09/01/49)^(a)		16,050		16,432,980
4.91%, 07/23/25 (Call 04/23/25)		52,665		58,063,863
5.05%, 03/30/29 (Call 12/30/28)^(a)		19,877		22,395,066
5.13%, 07/01/49 (Call 01/01/49)^(a)		12,880		13,747,769
5.38%, 04/01/38 (Call 10/01/37)		7,879		8,788,719
5.38%, 05/01/47 (Call 11/01/46)^(a)		26,293		28,769,703
5.75%, 04/01/48 (Call 10/01/47)		29,584		34,020,464
6.38%, 10/23/35 (Call 04/23/35)^(a)		17,235		21,157,510
6.48%, 10/23/45 (Call 04/23/45)^(a)		42,189		51,663,282
Comcast Cable Communications Holdings Inc., 9.46%, 11/15/22^(a)		9,238		11,270,866
Comcast Corp.
2.35%, 01/15/27 (Call 10/15/26)		12,936		12,968,273
2.65%, 02/01/30 (Call 11/01/29)		4,705		4,758,872
2.75%, 03/01/23 (Call 02/01/23)		10,748		11,025,850
2.85%, 01/15/23^(a)		6,473		6,663,886
3.00%, 02/01/24 (Call 01/01/24)		14,411		14,967,827
3.13%, 07/15/22^(a)		10,273		10,641,310
3.15%, 03/01/26 (Call 12/01/25)^(a)		24,277		25,553,963
3.15%, 02/15/28 (Call 11/15/27)^(a)		16,707		17,566,219


Security	Par (000)		Value

Media (continued)
3.20%, 07/15/36 (Call 01/15/36)	$	8,400	$	8,534,627
3.25%, 11/01/39 (Call 05/01/39)		10,000		10,182,300
3.30%, 02/01/27 (Call 11/01/26)^(a)		13,739		14,548,448
3.38%, 02/15/25 (Call 11/15/24)		14,163		15,021,572
3.38%, 08/15/25 (Call 05/15/25)^(a)		15,621		16,639,163
3.40%, 07/15/46 (Call 01/15/46)^(a)		13,328		13,540,643
3.45%, 02/01/50 (Call 08/01/49)		5,000		5,128,450
3.55%, 05/01/28 (Call 02/01/28)^(a)		14,893		16,105,847
3.60%, 03/01/24		8,558		9,121,833
3.70%, 04/15/24 (Call 03/15/24)		22,167		23,709,570
3.90%, 03/01/38 (Call 09/01/37)^(a)		12,906		14,207,593
3.95%, 10/15/25 (Call 08/15/25)		31,303		34,334,527
3.97%, 11/01/47 (Call 05/01/47)		23,500		25,748,106
4.00%, 08/15/47 (Call 02/15/47)		11,715		12,944,854
4.00%, 03/01/48 (Call 09/01/47)^(a)		12,102		13,392,585
4.00%, 11/01/49 (Call 05/01/49)		24,135		26,717,418
4.05%, 11/01/52 (Call 05/01/52)		20,668		23,031,609
4.15%, 10/15/28 (Call 07/15/28)		38,794		43,784,445
4.20%, 08/15/34 (Call 02/15/34)^(a)		12,634		14,551,533
4.25%, 10/15/30 (Call 07/15/30)		29,761		34,308,817
4.25%, 01/15/33		21,739		25,058,037
4.40%, 08/15/35 (Call 02/15/35)^(a)		10,823		12,548,568
4.60%, 10/15/38 (Call 04/15/38)		29,538		35,165,819
4.60%, 08/15/45 (Call 02/15/45)		19,576		23,431,399
4.65%, 07/15/42		12,914		15,394,139
4.70%, 10/15/48 (Call 04/15/48)^(a)		46,668		57,426,682
4.75%, 03/01/44^(a)		7,542		9,132,099
4.95%, 10/15/58 (Call 04/15/58)		28,880		37,072,904
5.65%, 06/15/35		8,928		11,609,512
6.45%, 03/15/37^(a)		6,741		9,524,444
6.50%, 11/15/35		9,425		13,277,262
6.95%, 08/15/37		9,547		14,080,372
7.05%, 03/15/33^(a)		8,314		11,909,197
Discovery Communications LLC
2.95%, 03/20/23 (Call 02/20/23)		13,108		13,345,860
3.95%, 03/20/28 (Call 12/20/27)		30,758		32,363,094
4.13%, 05/15/29 (Call 02/15/29)^(a)		11,023		11,718,346
4.88%, 04/01/43		9,557		9,983,007
5.00%, 09/20/37 (Call 03/20/37)^(a)		10,105		10,971,678
5.20%, 09/20/47 (Call 03/20/47)^(a)		14,261		15,706,668
5.30%, 05/15/49 (Call 11/15/48)		7,820		8,703,737
6.35%, 06/01/40		5,926		7,234,233
Fox Corp.
4.03%, 01/25/24 (Call 12/25/23)^(b)		11,209		11,972,443
4.71%, 01/25/29 (Call 10/25/28)^(a)(b)		25,233		28,692,359
5.48%, 01/25/39 (Call 07/25/38)^(a)(b)		16,107		19,761,161
5.58%, 01/25/49 (Call 07/25/48)^(b)		17,369		21,848,012
NBCUniversal Media LLC
2.88%, 01/15/23^(a)		12,251		12,612,009
4.45%, 01/15/43		6,049		6,956,962
5.95%, 04/01/41		5,605		7,694,087
Time Warner Cable LLC
4.00%, 09/01/21 (Call 06/01/21)		3,433		3,523,262
4.50%, 09/15/42 (Call 03/15/42)		14,052		14,006,774
5.50%, 09/01/41 (Call 03/01/41)		13,312		14,584,402
5.88%, 11/15/40 (Call 05/15/40)^(a)		12,664		14,445,536
6.55%, 05/01/37		13,982		16,953,408
6.75%, 06/15/39		20,544		25,193,532
7.30%, 07/01/38^(a)		16,780		21,483,508


Security	Par (000)		Value

Media (continued)
Time Warner Entertainment Co. LP
8.38%, 03/15/23^(a)	$	9,719	$	11,562,703
8.38%, 07/15/33		12,938		18,113,912
TWDC Enterprises 18 Corp.
1.85%, 07/30/26		10,751		10,595,759
2.35%, 12/01/22		10,207		10,367,708
2.95%, 06/15/27^(a)		14,536		15,341,895
3.00%, 02/13/26		12,481		13,181,149
3.15%, 09/17/25^(a)		7,505		8,002,866
4.13%, 06/01/44		10,570		12,648,652
Viacom Inc.
4.25%, 09/01/23 (Call 06/01/23)^(a)		11,651		12,380,278
4.38%, 03/15/43		17,050		17,557,681
5.85%, 09/01/43 (Call 03/01/43)		13,718		16,758,135
6.88%, 04/30/36^(a)		13,071		17,244,441
Walt Disney Co. (The)
2.00%, 09/01/29 (Call 06/01/29)		15,750		15,357,072
2.75%, 09/01/49 (Call 03/01/49)		4,640		4,398,660
6.15%, 03/01/37^(b)		6,508		9,194,502
6.15%, 02/15/41^(b)		6,808		10,016,125
6.20%, 12/15/34^(b)		11,579		16,383,151
6.40%, 12/15/35^(a)(b)		13,315		19,051,338
6.65%, 11/15/37^(b)		17,728		26,444,409

				1,678,763,111

Metal Fabricate & Hardware — 0.0%
Precision Castparts Corp.
2.50%, 01/15/23 (Call 10/15/22)^(a)		5,840		5,931,045
3.25%, 06/15/25 (Call 03/15/25)^(a)		3,087		3,264,285

				9,195,330

Mining — 0.6%
Barrick Gold Corp., 5.25%, 04/01/42^(a)		7,795		9,415,807
Barrick North America Finance LLC
5.70%, 05/30/41^(a)		11,796		14,889,016
5.75%, 05/01/43^(a)		7,606		9,894,293
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		12,247		15,734,268
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42^(a)		10,843		12,543,047
5.00%, 09/30/43^(a)		27,864		36,065,961
Newmont Goldcorp Corp.
3.50%, 03/15/22 (Call 12/15/21)		6,862		7,064,731
3.70%, 03/15/23 (Call 12/15/22)^(b)		69		71,941
3.70%, 03/15/23 (Call 12/15/22)		750		780,950
4.88%, 03/15/42 (Call 09/15/41)		12,537		14,760,587
6.25%, 10/01/39^(a)		10,846		14,427,163
Rio Tinto Alcan Inc., 6.13%, 12/15/33		7,014		9,521,328
Rio Tinto Finance USA Ltd.
3.75%, 06/15/25 (Call 03/15/25)^(a)		12,341		13,308,089
5.20%, 11/02/40		13,101		16,995,998
7.13%, 07/15/28^(a)		11,183		15,136,612
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)^(a)		11,096		12,804,997

				203,414,788

Oil & Gas — 5.7%
Apache Corp.
3.25%, 04/15/22 (Call 01/15/22)		5,162		5,234,062
4.25%, 01/15/44 (Call 07/15/43)		10,859		9,259,073
4.38%, 10/15/28 (Call 07/15/28)^(a)		1,367		1,356,646
4.75%, 04/15/43 (Call 10/15/42)		15,732		14,311,473
5.10%, 09/01/40 (Call 03/01/40)^(a)		19,142		18,271,052


Security	Par (000)		Value

Oil & Gas (continued)
BP Capital Markets America Inc.
2.75%, 05/10/23	$	5,713	$	5,851,160
3.02%, 01/16/27 (Call 10/16/26)		10,178		10,566,866
3.12%, 05/04/26 (Call 02/04/26)^(a)		13,583		14,245,572
3.22%, 11/28/23 (Call 09/28/23)		10,744		11,190,479
3.22%, 04/14/24 (Call 02/14/24)^(a)		9,561		9,977,526
3.25%, 05/06/22^(a)		6,011		6,203,170
3.41%, 02/11/26 (Call 12/11/25)^(a)		2,035		2,161,370
3.79%, 02/06/24 (Call 01/06/24)^(a)		11,052		11,753,497
3.80%, 09/21/25 (Call 07/21/25)^(a)		16,025		17,363,438
3.94%, 09/21/28 (Call 06/21/28)^(a)		2,049		2,273,033
4.23%, 11/06/28 (Call 08/06/28)^(a)		27,104		30,682,994
BP Capital Markets PLC
2.50%, 11/06/22^(a)		9,168		9,315,997
3.06%, 03/17/22^(a)		5,472		5,615,869
3.28%, 09/19/27 (Call 06/19/27)^(a)		20,418		21,516,060
3.51%, 03/17/25^(a)		13,608		14,498,480
3.54%, 11/04/24		15,108		16,007,505
3.72%, 11/28/28 (Call 08/28/28)		9,202		10,028,444
3.81%, 02/10/24		14,187		15,152,213
3.99%, 09/26/23		8,167		8,746,638
Canadian Natural Resources Ltd.
2.95%, 01/15/23 (Call 12/15/22)		4,153		4,236,543
3.85%, 06/01/27 (Call 03/01/27)^(a)		14,230		15,058,310
4.95%, 06/01/47 (Call 12/01/46)^(a)		9,342		10,933,232
6.25%, 03/15/38^(a)		12,158		15,389,463
Cenovus Energy Inc.
4.25%, 04/15/27 (Call 01/15/27)^(a)		8,491		8,903,057
5.40%, 06/15/47 (Call 12/15/46)^(a)		7,536		8,430,713
6.75%, 11/15/39		17,446		21,241,660
Chevron Corp.
2.36%, 12/05/22 (Call 09/05/22)		15,560		15,778,311
2.57%, 05/16/23 (Call 03/16/23)		7,510		7,665,360
2.90%, 03/03/24 (Call 01/03/24)^(a)		7,795		8,120,252
2.95%, 05/16/26 (Call 02/16/26)^(a)		28,262		29,723,018
3.19%, 06/24/23 (Call 03/24/23)		23,906		24,954,916
3.33%, 11/17/25 (Call 08/17/25)^(a)		14,423		15,494,789
Cimarex Energy Co.
3.90%, 05/15/27 (Call 02/15/27)^(a)		14,420		14,533,954
4.38%, 06/01/24 (Call 03/01/24)		2,278		2,384,327
Concho Resources Inc.
3.75%, 10/01/27 (Call 07/01/27)^(a)		11,501		11,933,109
4.30%, 08/15/28 (Call 05/15/28)^(a)		14,484		15,613,583
4.88%, 10/01/47 (Call 04/01/47)		7,666		8,644,233
ConocoPhillips, 6.50%, 02/01/39^(a)		25,569		37,320,676
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		10,765		12,578,106
4.95%, 03/15/26 (Call 12/15/25)		17,797		20,468,689
ConocoPhillips Holding Co., 6.95%, 04/15/29		12,819		17,419,969
Continental Resources Inc./OK
3.80%, 06/01/24 (Call 03/01/24)		250		254,511
4.38%, 01/15/28 (Call 10/15/27)^(a)		17,735		18,304,434
4.50%, 04/15/23 (Call 01/15/23)		11,976		12,467,499
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)		3,575		3,918,285
5.00%, 06/15/45 (Call 12/15/44)^(a)		10,288		11,733,311
5.60%, 07/15/41 (Call 01/15/41)^(a)		13,689		16,318,389
Encana Corp., 6.50%, 08/15/34^(a)		5,862		7,062,434


Security	Par (000)		Value

Oil & Gas (continued)
EOG Resources Inc.
2.63%, 03/15/23 (Call 12/15/22)^(a)	$	9,249	$	9,443,087
4.15%, 01/15/26 (Call 10/15/25)^(a)		12,642		13,975,132
EQT Corp.
3.00%, 10/01/22 (Call 09/01/22)^(a)		2,627		2,508,674
3.90%, 10/01/27 (Call 07/01/27)^(a)		16,135		14,231,070
Equinor ASA
2.45%, 01/17/23^(a)		9,097		9,253,069
2.65%, 01/15/24		10,589		10,897,991
3.70%, 03/01/24^(a)		11,435		12,243,438
3.95%, 05/15/43^(a)		9,483		10,864,728
4.80%, 11/08/43^(a)		7,232		9,294,430
5.10%, 08/17/40		8,926		11,622,942
Exxon Mobil Corp.
2.02%, 08/16/24 (Call 07/16/24)^(a)		10,700		10,775,928
2.28%, 08/16/26 (Call 06/16/26)^(a)		15,575		15,733,924
2.40%, 03/06/22 (Call 01/06/22)^(a)		6,450		6,542,933
2.44%, 08/16/29 (Call 05/16/29)^(a)		12,900		12,992,154
2.71%, 03/06/25 (Call 12/06/24)^(a)		22,259		23,099,190
2.73%, 03/01/23 (Call 01/01/23)		13,898		14,288,569
3.00%, 08/16/39 (Call 02/16/39)^(a)		5,275		5,354,470
3.04%, 03/01/26 (Call 12/01/25)^(a)		27,575		29,134,173
3.10%, 08/16/49 (Call 02/16/49)^(a)		18,315		18,551,994
3.18%, 03/15/24 (Call 12/15/23)^(a)		9,402		9,904,527
3.57%, 03/06/45 (Call 09/06/44)		10,216		11,107,850
4.11%, 03/01/46 (Call 09/01/45)^(a)		30,374		36,107,257
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)^(a)		12,619		13,278,796
5.60%, 02/15/41		11,129		12,486,445
6.00%, 01/15/40		10,291		11,722,063
Husky Energy Inc.
4.00%, 04/15/24 (Call 01/15/24)^(a)		750		787,433
4.40%, 04/15/29 (Call 01/15/29)^(a)		6,364		6,713,790
Marathon Oil Corp.
2.80%, 11/01/22 (Call 08/01/22)^(a)		3,184		3,218,180
3.85%, 06/01/25 (Call 03/01/25)^(a)		7,185		7,548,940
4.40%, 07/15/27 (Call 04/15/27)^(a)		16,874		18,132,434
6.60%, 10/01/37		6,628		8,115,690
Marathon Petroleum Corp.
3.63%, 09/15/24 (Call 06/15/24)^(a)		9,237		9,730,053
4.75%, 09/15/44 (Call 03/15/44)		9,883		10,844,662
5.13%, 12/15/26 (Call 09/15/26)^(a)		237		270,919
6.50%, 03/01/41 (Call 09/01/40)		13,807		17,782,411
Newfield Exploration Co., 5.63%, 07/01/24^(a)		8,190		8,965,342
Noble Energy Inc.
5.05%, 11/15/44 (Call 05/15/44)		10,521		11,126,364
5.25%, 11/15/43 (Call 05/15/43)		8,980		9,723,904
6.00%, 03/01/41 (Call 09/01/40)		10,549		12,216,843
Occidental Petroleum Corp.
2.70%, 02/15/23 (Call 11/15/22)^(a)		8,672		8,735,348
2.90%, 08/15/24 (Call 07/15/24)^(a)		26,475		26,735,993
3.00%, 02/15/27 (Call 11/15/26)^(a)		7,751		7,702,162
3.20%, 08/15/26 (Call 06/15/26)^(a)		11,300		11,451,160
3.40%, 04/15/26 (Call 01/15/26)^(a)		13,240		13,508,233
3.50%, 06/15/25 (Call 03/15/25)^(a)		9,905		10,255,465
3.50%, 08/15/29 (Call 05/15/29)^(a)		18,795		19,046,434
4.10%, 02/15/47 (Call 08/15/46)		13,343		12,743,201
4.20%, 03/15/48 (Call 09/15/47)		7,162		6,952,393
4.30%, 08/15/39 (Call 02/15/39)^(a)		10,675		10,832,308
4.40%, 04/15/46 (Call 10/15/45)		10,902		10,853,626


Security	Par (000)		Value

Oil & Gas (continued)
4.40%, 08/15/49 (Call 02/15/49)^(a)	$	5,850	$	5,930,007
4.63%, 06/15/45 (Call 12/15/44)^(a)		13,799		14,066,238
5.55%, 03/15/26 (Call 12/15/25)^(a)		15,519		17,620,561
6.20%, 03/15/40		6,994		8,395,782
6.45%, 09/15/36		23,325		28,560,933
6.60%, 03/15/46 (Call 09/15/45)		15,199		19,462,753
7.50%, 05/01/31		8,566		11,232,663
Phillips 66
3.90%, 03/15/28 (Call 12/15/27)^(a)		7,551		8,177,350
4.65%, 11/15/34 (Call 05/15/34)		15,679		18,255,082
4.88%, 11/15/44 (Call 05/15/44)^(a)		17,317		20,732,356
5.88%, 05/01/42^(a)		15,664		20,856,704
Shell International Finance BV
2.25%, 01/06/23^(a)		10,423		10,528,558
2.38%, 08/21/22		10,450		10,610,035
2.50%, 09/12/26^(a)		15,952		16,310,461
2.88%, 05/10/26^(a)		22,766		23,779,098
3.25%, 05/11/25		31,367		33,225,140
3.40%, 08/12/23		8,068		8,498,976
3.50%, 11/13/23 (Call 10/13/23)^(a)		10,461		11,068,880
3.75%, 09/12/46^(a)		13,846		15,415,783
3.88%, 11/13/28 (Call 08/13/28)^(a)		21,026		23,649,328
4.00%, 05/10/46^(a)		29,970		34,375,287
4.13%, 05/11/35^(a)		16,829		19,359,158
4.38%, 05/11/45^(a)		34,174		41,204,672
4.55%, 08/12/43^(a)		16,939		20,663,325
5.50%, 03/25/40^(a)		6,256		8,457,003
6.38%, 12/15/38^(a)		22,853		33,157,514
Suncor Energy Inc.
3.60%, 12/01/24 (Call 09/01/24)^(a)		3,874		4,090,848
4.00%, 11/15/47 (Call 05/15/47)		11,473		12,306,616
6.50%, 06/15/38		11,025		15,149,690
6.80%, 05/15/38		12,835		18,034,954
6.85%, 06/01/39		7,782		10,953,792
Total Capital Canada Ltd., 2.75%, 07/15/23^(a)		2,217		2,281,214
Total Capital International SA
2.43%, 01/10/25 (Call 10/10/24)^(a)		12,100		12,294,226
2.70%, 01/25/23^(a)		9,227		9,460,531
2.83%, 01/10/30 (Call 10/10/29)^(a)		18,181		18,818,208
2.88%, 02/17/22^(a)		3,480		3,562,515
3.46%, 02/19/29 (Call 11/19/28)^(a)		17,207		18,693,184
3.46%, 07/12/49 (Call 01/12/49)		10,085		10,678,150
3.70%, 01/15/24		9,599		10,268,807
3.75%, 04/10/24		10,350		11,120,116
Total Capital SA, 3.88%, 10/11/28^(a)		10,794		12,119,128
Valero Energy Corp.
3.40%, 09/15/26 (Call 06/15/26)		16,317		16,883,066
4.00%, 04/01/29 (Call 01/01/29)		12,720		13,599,466
4.35%, 06/01/28 (Call 03/01/28)		7,223		7,858,236
6.63%, 06/15/37^(a)		16,494		21,440,462
7.50%, 04/15/32		7,429		10,097,985

				1,991,180,713

Oil & Gas Services — 0.6%
Baker Hughes a GE Co. LLC, 5.13%, 09/15/40^(a)		4,388		4,982,674
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc.
2.77%, 12/15/22 (Call 11/15/22)		11,668		11,861,433
3.34%, 12/15/27 (Call 09/15/27)^(a)		21,826		22,488,934
4.08%, 12/15/47 (Call 06/15/47)		21,365		21,346,231


Security	Par (000)		Value

Oil & Gas Services (continued)
Halliburton Co.
3.50%, 08/01/23 (Call 05/01/23)	$	10,835	$	11,236,065
3.80%, 11/15/25 (Call 08/15/25)^(a)		21,374		22,508,280
4.75%, 08/01/43 (Call 02/01/43)		11,157		11,924,874
4.85%, 11/15/35 (Call 05/15/35)		9,908		10,961,483
5.00%, 11/15/45 (Call 05/15/45)^(a)		20,977		22,996,808
6.70%, 09/15/38^(a)		9,383		12,329,140
7.45%, 09/15/39		12,227		17,307,567
National Oilwell Varco Inc.
2.60%, 12/01/22 (Call 09/01/22)		9,820		9,903,293
3.95%, 12/01/42 (Call 06/01/42)		9,129		8,323,423
Schlumberger Investment SA, 3.65%, 12/01/23 (Call 09/01/23)		12,640		13,369,629

				201,539,834

Packaging & Containers — 0.1%
WRKCo Inc.
4.65%, 03/15/26 (Call 01/15/26)		9,181		10,143,483
4.90%, 03/15/29 (Call 12/15/28)^(a)		10,590		12,101,891

				22,245,374

Pharmaceuticals — 8.1%
AbbVie Inc.
2.85%, 05/14/23 (Call 03/14/23)		12,207		12,418,226
2.90%, 11/06/22		28,601		29,162,518
3.20%, 11/06/22 (Call 09/06/22)		8,409		8,632,920
3.20%, 05/14/26 (Call 02/14/26)^(a)		20,268		20,763,701
3.60%, 05/14/25 (Call 02/14/25)^(a)		37,043		38,815,530
3.75%, 11/14/23 (Call 10/14/23)		13,860		14,597,746
4.25%, 11/14/28 (Call 08/14/28)		17,799		19,347,579
4.30%, 05/14/36 (Call 11/14/35)		14,031		14,789,411
4.40%, 11/06/42		32,588		33,624,605
4.45%, 05/14/46 (Call 11/14/45)		20,291		21,011,627
4.50%, 05/14/35 (Call 11/14/34)^(a)		24,889		26,700,362
4.70%, 05/14/45 (Call 11/14/44)		31,283		33,520,635
4.88%, 11/14/48 (Call 05/14/48)^(a)		17,975		19,739,949
Allergan Finance LLC, 3.25%, 10/01/22 (Call 07/01/22)		7,144		7,301,878
Allergan Funding SCS
3.45%, 03/15/22 (Call 01/15/22)		2,953		3,023,999
3.80%, 03/15/25 (Call 12/15/24)^(a)		43,127		45,367,586
3.85%, 06/15/24 (Call 03/15/24)		12,755		13,459,390
4.55%, 03/15/35 (Call 09/15/34)		19,731		21,131,650
4.75%, 03/15/45 (Call 09/15/44)		10,785		11,500,343
4.85%, 06/15/44 (Call 12/15/43)		12,101		13,071,349
AmerisourceBergen Corp., 3.45%, 12/15/27 (Call 09/15/27)		2,448		2,543,566
AstraZeneca PLC
3.13%, 06/12/27 (Call 03/12/27)		12,950		13,550,797
3.38%, 11/16/25		24,565		25,976,259
3.50%, 08/17/23 (Call 07/17/23)^(a)		8,402		8,806,098
4.00%, 01/17/29 (Call 10/17/28)^(a)		16,609		18,592,125
4.00%, 09/18/42		11,845		13,153,472
4.38%, 11/16/45^(a)		9,353		11,042,643
4.38%, 08/17/48 (Call 02/17/48)^(a)		7,187		8,521,577
6.45%, 09/15/37^(a)		30,788		43,426,400
Bristol-Myers Squibb Co.
2.90%, 07/26/24 (Call 06/26/24)^(a)(b)		37,118		38,530,351
3.20%, 06/15/26 (Call 04/15/26)^(b)		25,051		26,466,234
3.25%, 02/27/27		10,087		10,810,139
3.40%, 07/26/29 (Call 04/26/29)^(a)(b)		49,855		53,598,188
4.13%, 06/15/39 (Call 12/15/38)^(a)(b)		20,907		23,861,247


Security	Par (000)		Value

Pharmaceuticals (continued)
4.25%, 10/26/49 (Call 04/26/49)^(a)(b)	$	42,890	$	50,249,161
Cardinal Health Inc.
2.62%, 06/15/22 (Call 05/15/22)		9,890		9,998,847
3.08%, 06/15/24 (Call 04/15/24)^(a)		7,930		8,060,797
3.41%, 06/15/27 (Call 03/15/27)^(a)		13,558		13,800,020
Cigna Corp.
3.00%, 07/15/23 (Call 05/16/23)^(b)		8,307		8,482,729
3.25%, 04/15/25 (Call 01/15/25)^(b)		17,357		17,892,840
3.40%, 03/01/27 (Call 12/01/26)^(a)(b)		17,234		17,916,460
3.50%, 06/15/24 (Call 03/17/24)^(b)		11,836		12,337,484
3.75%, 07/15/23 (Call 06/15/23)		31,823		33,332,161
3.88%, 10/15/47 (Call 04/15/47)^(b)		8,080		7,922,817
3.90%, 02/15/22^(b)		1,167		1,210,080
4.13%, 11/15/25 (Call 09/15/25)		28,468		30,857,185
4.38%, 10/15/28 (Call 07/15/28)^(a)		44,204		48,764,036
4.50%, 02/25/26 (Call 11/27/25)^(b)		13,834		15,343,837
4.80%, 08/15/38 (Call 02/15/38)		31,559		35,818,086
4.80%, 07/15/46 (Call 01/16/46)^(b)		13,990		15,607,916
4.90%, 12/15/48 (Call 06/15/48)^(a)		29,399		34,139,944
CVS Health Corp.
2.63%, 08/15/24 (Call 07/15/24)^(a)		9,020		9,117,047
2.75%, 12/01/22 (Call 09/01/22)		7,926		8,046,806
2.88%, 06/01/26 (Call 03/01/26)^(a)		18,254		18,362,089
3.00%, 08/15/26 (Call 06/15/26)		6,263		6,355,600
3.25%, 08/15/29 (Call 05/15/29)		14,185		14,301,592
3.50%, 07/20/22 (Call 05/20/22)^(a)		8,715		9,015,306
3.70%, 03/09/23 (Call 02/09/23)^(a)		60,314		62,887,417
3.88%, 07/20/25 (Call 04/20/25)		31,167		33,149,558
4.00%, 12/05/23 (Call 09/05/23)^(a)		12,776		13,534,440
4.10%, 03/25/25 (Call 01/25/25)		59,804		64,236,768
4.30%, 03/25/28 (Call 12/25/27)^(a)		109,160		118,337,441
4.78%, 03/25/38 (Call 09/25/37)^(a)		55,902		62,003,273
5.05%, 03/25/48 (Call 09/25/47)^(a)		87,454		100,536,209
5.13%, 07/20/45 (Call 01/20/45)^(a)		41,292		47,466,368
5.30%, 12/05/43 (Call 06/05/43)		11,281		13,172,658
Eli Lilly & Co.
2.75%, 06/01/25 (Call 03/01/25)		13,820		14,363,072
3.10%, 05/15/27 (Call 02/15/27)		10,791		11,450,443
3.38%, 03/15/29 (Call 12/15/28)^(a)		12,843		13,939,331
3.70%, 03/01/45 (Call 09/01/44)		3,289		3,713,300
3.88%, 03/15/39 (Call 09/15/38)^(a)		11,612		13,387,486
3.95%, 05/15/47 (Call 11/15/46)		6,311		7,441,336
3.95%, 03/15/49 (Call 09/15/48)^(a)		17,351		20,283,041
4.15%, 03/15/59 (Call 09/15/58)^(a)		13,828		16,445,292
GlaxoSmithKline Capital Inc.
2.80%, 03/18/23^(a)		10,816		11,146,298
3.38%, 05/15/23		14,205		14,888,481
3.63%, 05/15/25		11,047		11,902,838
3.88%, 05/15/28		20,189		22,532,822
6.38%, 05/15/38		30,134		43,903,481
GlaxoSmithKline Capital PLC
2.85%, 05/08/22		3,949		4,042,348
3.00%, 06/01/24 (Call 05/01/24)^(a)		9,734		10,122,372
3.38%, 06/01/29 (Call 03/01/29)^(a)		15,385		16,623,740
Johnson & Johnson
2.45%, 03/01/26 (Call 12/01/25)^(a)		21,336		21,835,862
2.63%, 01/15/25 (Call 11/15/24)^(a)		10,951		11,306,979
2.90%, 01/15/28 (Call 10/15/27)^(a)		21,266		22,373,344
2.95%, 03/03/27 (Call 12/03/26)^(a)		11,908		12,559,322
3.38%, 12/05/23		7,827		8,308,696


Security	Par (000)		Value

Pharmaceuticals (continued)
3.40%, 01/15/38 (Call 07/15/37)^(a)	$	10,681	$	11,557,475
3.50%, 01/15/48 (Call 07/15/47)^(a)		12,002		13,230,933
3.55%, 03/01/36 (Call 09/01/35)		10,600		11,636,244
3.63%, 03/03/37 (Call 09/03/36)^(a)		16,662		18,483,502
3.70%, 03/01/46 (Call 09/01/45)^(a)		13,117		14,847,450
3.75%, 03/03/47 (Call 09/03/46)^(a)		14,015		15,957,705
4.38%, 12/05/33 (Call 06/05/33)		12,735		15,333,401
5.95%, 08/15/37		10,827		15,343,874
McKesson Corp., 3.80%, 03/15/24 (Call 12/15/23)^(a)		7,870		8,267,619
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)		7,831		8,584,821
Merck & Co. Inc.
2.35%, 02/10/22		2,810		2,855,096
2.75%, 02/10/25 (Call 11/10/24)		35,609		36,938,875
2.80%, 05/18/23^(a)		19,223		19,889,742
2.90%, 03/07/24 (Call 02/07/24)^(a)		8,171		8,516,721
3.40%, 03/07/29 (Call 12/07/28)^(a)		22,568		24,567,026
3.70%, 02/10/45 (Call 08/10/44)		24,909		27,960,079
3.90%, 03/07/39 (Call 09/07/38)		11,352		13,126,406
4.00%, 03/07/49 (Call 09/07/48)^(a)		17,264		20,597,433
4.15%, 05/18/43^(a)		9,438		11,339,248
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)^(a)		15,612		16,719,918
5.20%, 04/15/48 (Call 10/15/47)^(a)		4,873		5,180,975
Mylan NV
3.95%, 06/15/26 (Call 03/15/26)^(a)		25,803		26,838,714
3.95%, 06/15/26 (Call 03/15/26)^(b)		1,922		1,996,420
5.25%, 06/15/46 (Call 12/15/45)^(a)		8,543		9,155,887
Novartis Capital Corp.
2.40%, 09/21/22		8,704		8,863,863
3.00%, 11/20/25 (Call 08/20/25)^(a)		16,135		17,074,717
3.10%, 05/17/27 (Call 02/17/27)^(a)		11,502		12,236,682
3.40%, 05/06/24^(a)		13,210		14,059,119
4.00%, 11/20/45 (Call 05/20/45)		15,066		17,863,001
4.40%, 05/06/44		23,030		28,653,525
Pfizer Inc.
2.75%, 06/03/26^(a)		14,069		14,597,464
2.95%, 03/15/24 (Call 02/15/24)^(a)		5,674		5,916,806
3.00%, 06/15/23^(a)		9,018		9,363,761
3.00%, 12/15/26^(a)		15,612		16,570,096
3.20%, 09/15/23 (Call 08/15/23)		8,176		8,563,860
3.40%, 05/15/24^(a)		11,115		11,830,477
3.45%, 03/15/29 (Call 12/15/28)^(a)		24,756		26,986,602
3.60%, 09/15/28 (Call 06/15/28)^(a)		13,460		14,833,359
3.90%, 03/15/39 (Call 09/15/38)^(a)		11,528		13,136,750
4.00%, 12/15/36^(a)		9,609		10,987,621
4.00%, 03/15/49 (Call 09/15/48)^(a)		10,450		12,188,456
4.13%, 12/15/46^(a)		14,628		17,297,446
4.20%, 09/15/48 (Call 03/15/48)^(a)		12,794		15,314,319
4.30%, 06/15/43		10,547		12,599,530
4.40%, 05/15/44		13,667		16,601,981
7.20%, 03/15/39		21,970		34,520,554
Sanofi
3.38%, 06/19/23 (Call 05/19/23)^(a)		6,592		6,933,344
3.63%, 06/19/28 (Call 03/19/28)		2,372		2,638,071
Shire Acquisitions Investments Ireland DAC
2.88%, 09/23/23 (Call 07/23/23)		28,011		28,595,682
3.20%, 09/23/26 (Call 06/23/26)^(a)		21,683		22,368,905


Security	Par (000)		Value

Pharmaceuticals (continued)
Takeda Pharmaceutical Co. Ltd.
4.40%, 11/26/23 (Call 10/26/23)^(a)(b)	$	15,865	$	17,053,542
5.00%, 11/26/28 (Call 08/26/28)^(b)		23,075		27,091,418
Wyeth LLC
5.95%, 04/01/37		21,983		30,219,909
6.50%, 02/01/34		14,557		20,627,579
Zoetis Inc.
3.00%, 09/12/27 (Call 06/12/27)		12,505		12,879,003
3.25%, 02/01/23 (Call 11/01/22)		12,084		12,475,680
4.50%, 11/13/25 (Call 08/13/25)^(a)		6,740		7,508,824
4.70%, 02/01/43 (Call 08/01/42)^(a)		11,637		14,098,182

				2,863,162,648

Pipelines — 3.7%
Cheniere Corpus Christi Holdings LLC
5.13%, 06/30/27 (Call 01/01/27)		15,350		16,553,755
5.88%, 03/31/25 (Call 10/02/24)		15,000		16,632,600
7.00%, 06/30/24 (Call 01/01/24)		15,000		17,250,000
Enable Midstream Partners LP, 4.95%, 05/15/28 (Call 02/15/28)^(a)		12,600		12,820,720
Enbridge Inc.
4.00%, 10/01/23 (Call 07/01/23)		6,517		6,904,197
4.25%, 12/01/26 (Call 09/01/26)^(a)		11,385		12,431,258
5.50%, 12/01/46 (Call 06/01/46)^(a)		8,793		11,096,329
Energy Transfer Operating LP
3.60%, 02/01/23 (Call 11/01/22)		7,511		7,711,384
4.05%, 03/15/25 (Call 12/15/24)		14,898		15,599,483
4.25%, 03/15/23 (Call 12/15/22)^(a)		2,777		2,906,167
4.50%, 04/15/24 (Call 03/15/24)^(a)		7,280		7,770,728
4.75%, 01/15/26 (Call 10/15/25)		10,201		11,047,775
4.95%, 06/15/28 (Call 03/15/28)		7,979		8,732,147
5.15%, 03/15/45 (Call 09/15/44)^(a)		15,730		16,269,644
5.20%, 02/01/22 (Call 11/01/21)^(a)		2,422		2,548,924
5.25%, 04/15/29 (Call 01/15/29)		23,883		26,799,250
5.30%, 04/15/47 (Call 10/15/46)		12,318		13,099,874
5.50%, 06/01/27 (Call 03/01/27)		7,388		8,298,060
5.88%, 01/15/24 (Call 10/15/23)^(a)		10,400		11,549,862
6.13%, 12/15/45 (Call 06/15/45)		13,192		15,265,401
6.25%, 04/15/49 (Call 10/15/48)^(a)		19,256		22,968,832
6.50%, 02/01/42 (Call 08/01/41)		13,360		15,865,751
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)		9,600		11,088,612
Energy Transfer Partners LP/Regency Energy Finance Corp., 5.88%, 03/01/22 (Call 12/01/21)		8,036		8,586,379
Enterprise Products Operating LLC
3.13%, 07/31/29 (Call 04/30/29)		14,610		15,004,913
3.35%, 03/15/23 (Call 12/15/22)^(a)		13,915		14,402,161
3.70%, 02/15/26 (Call 11/15/25)^(a)		15,445		16,436,663
3.75%, 02/15/25 (Call 11/15/24)		12,996		13,870,709
3.90%, 02/15/24 (Call 11/15/23)		3,886		4,137,536
4.15%, 10/16/28 (Call 07/16/28)		18,696		20,648,042
4.20%, 01/31/50 (Call 07/31/49)^(a)		14,085		14,886,308
4.25%, 02/15/48 (Call 08/15/47)		10,849		11,530,682
4.45%, 02/15/43 (Call 08/15/42)		13,674		14,725,387
4.80%, 02/01/49 (Call 08/01/48)		13,987		16,136,893
4.85%, 08/15/42 (Call 02/15/42)^(a)		9,819		11,335,935
4.85%, 03/15/44 (Call 09/15/43)^(a)		16,333		18,626,248
4.90%, 05/15/46 (Call 11/15/45)^(a)		11,324		13,126,706
5.10%, 02/15/45 (Call 08/15/44)^(a)		11,884		13,897,207
5.95%, 02/01/41		9,716		12,332,901


Security	Par (000)		Value

Pipelines (continued)
EQM Midstream Partners LP
4.75%, 07/15/23 (Call 06/15/23)	$	6,583	$	6,513,504
5.50%, 07/15/28 (Call 04/15/28)^(a)		11,393		11,087,125
Kinder Morgan Energy Partners LP
3.95%, 09/01/22 (Call 06/01/22)		8,235		8,585,378
5.50%, 03/01/44 (Call 09/01/43)^(a)		8,754		9,957,577
6.95%, 01/15/38^(a)		13,517		17,440,031
Kinder Morgan Inc./DE
3.15%, 01/15/23 (Call 12/15/22)^(a)		10,300		10,553,549
4.30%, 06/01/25 (Call 03/01/25)^(a)		11,175		12,084,691
4.30%, 03/01/28 (Call 12/01/27)		13,900		15,063,230
5.05%, 02/15/46 (Call 08/15/45)		12,927		14,226,877
5.20%, 03/01/48 (Call 09/01/47)^(a)		10,935		12,436,205
5.30%, 12/01/34 (Call 06/01/34)		5,434		6,256,893
5.55%, 06/01/45 (Call 12/01/44)^(a)		19,070		22,354,710
7.75%, 01/15/32		6,580		9,071,025
MPLX LP
4.00%, 03/15/28 (Call 12/15/27)		19,073		19,823,290
4.13%, 03/01/27 (Call 12/01/26)^(a)		17,546		18,402,689
4.25%, 12/01/27 (Call 09/01/27)^(a)(b)		4,306		4,533,585
4.50%, 07/15/23 (Call 04/15/23)^(a)		9,805		10,433,782
4.50%, 04/15/38 (Call 10/15/37)		20,114		20,471,482
4.70%, 04/15/48 (Call 10/15/47)		13,230		13,397,520
4.80%, 02/15/29 (Call 11/15/28)^(a)		10,843		11,902,132
4.88%, 12/01/24 (Call 09/01/24)		11,729		12,807,567
4.88%, 06/01/25 (Call 03/01/25)		13,369		14,660,393
5.20%, 03/01/47 (Call 09/01/46)^(a)		9,316		9,990,657
5.25%, 01/15/25 (Call 01/15/21)^(b)		2,085		2,190,416
5.50%, 02/15/49 (Call 08/15/48)		19,786		22,160,164
ONEOK Inc.
3.40%, 09/01/29 (Call 06/01/29)		7,050		7,025,833
4.45%, 09/01/49 (Call 03/01/49)		6,275		6,214,737
4.55%, 07/15/28 (Call 04/15/28)^(a)		16,375		17,738,148
5.20%, 07/15/48 (Call 01/15/48)		10,383		11,411,041
ONEOK Partners LP, 3.38%, 10/01/22 (Call 07/01/22)		9,542		9,793,496
Plains All American Pipeline LP/PAA Finance Corp.
3.55%, 12/15/29 (Call 09/15/29)		1,300		1,244,298
3.60%, 11/01/24 (Call 08/01/24)		9,596		9,825,435
3.65%, 06/01/22 (Call 03/01/22)		3,317		3,400,629
4.50%, 12/15/26 (Call 09/15/26)^(a)		5,754		6,068,596
4.65%, 10/15/25 (Call 07/15/25)^(a)		15,313		16,358,576
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)		11,545		12,182,221
5.00%, 03/15/27 (Call 09/15/26)		22,785		25,015,137
5.63%, 04/15/23 (Call 01/15/23)^(a)		14,112		15,349,706
5.63%, 03/01/25 (Call 12/01/24)		21,908		24,569,903
5.75%, 05/15/24 (Call 02/15/24)^(a)		21,641		24,174,133
5.88%, 06/30/26 (Call 12/31/25)		14,452		16,560,501
6.25%, 03/15/22 (Call 12/15/21)^(a)		4,362		4,694,808
Spectra Energy Partners LP, 4.75%, 03/15/24 (Call 12/15/23)^(a)		5,453		5,949,688
Sunoco Logistics Partners Operations LP
4.00%, 10/01/27 (Call 07/01/27)^(a)		3,850		3,982,877
5.35%, 05/15/45 (Call 11/15/44)		11,179		11,789,283
5.40%, 10/01/47 (Call 04/01/47)		11,959		12,840,071
TransCanada PipeLines Ltd.
2.50%, 08/01/22^(a)		9,701		9,828,387
4.25%, 05/15/28 (Call 02/15/28)^(a)		21,548		23,804,547
4.63%, 03/01/34 (Call 12/01/33)		15,222		17,335,072
4.88%, 01/15/26 (Call 10/15/25)		2,344		2,619,781


Security	Par (000)		Value

Pipelines (continued)
4.88%, 05/15/48 (Call 11/15/47)^(a)	$	8,392	$	9,701,412
5.10%, 03/15/49 (Call 09/15/48)^(a)		15,897		19,084,562
6.10%, 06/01/40		8,699		11,179,593
6.20%, 10/15/37		8,018		10,308,375
7.63%, 01/15/39^(a)		11,416		16,899,405
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)		12,146		15,389,634
Williams Companies Inc. (The)
3.35%, 08/15/22 (Call 05/15/22)^(a)		7,418		7,614,341
3.60%, 03/15/22 (Call 01/15/22)^(a)		10,089		10,373,652
3.70%, 01/15/23 (Call 10/15/22)		100		103,491
3.75%, 06/15/27 (Call 03/15/27)^(a)		15,831		16,505,534
3.90%, 01/15/25 (Call 10/15/24)		10,417		10,904,900
4.00%, 09/15/25 (Call 06/15/25)		9,875		10,435,728
4.30%, 03/04/24 (Call 12/04/23)		6,011		6,393,193
4.55%, 06/24/24 (Call 03/24/24)^(a)		250		269,375
4.85%, 03/01/48 (Call 09/01/47)^(a)		11,766		12,550,540
5.10%, 09/15/45 (Call 03/15/45)		11,819		12,874,233
6.30%, 04/15/40		14,055		17,030,736

				1,314,695,503

Real Estate Investment Trusts — 1.5%
Alexandria Real Estate Equities Inc., 3.38%, 08/15/31 (Call 05/15/31)^(a)		10,905		11,453,815
American Tower Corp.
3.38%, 10/15/26 (Call 07/15/26)		15,722		16,354,985
3.50%, 01/31/23		9,535		9,916,085
3.55%, 07/15/27 (Call 04/15/27)		9,363		9,872,196
3.80%, 08/15/29 (Call 05/15/29)^(a)		21,931		23,392,763
4.00%, 06/01/25 (Call 03/01/25)		8,973		9,640,058
5.00%, 02/15/24^(a)		12,034		13,313,468
Boston Properties LP
2.75%, 10/01/26 (Call 07/01/26)^(a)		16,309		16,534,974
3.20%, 01/15/25 (Call 10/15/24)^(a)		9,351		9,717,458
3.40%, 06/21/29 (Call 03/21/29)^(a)		10,780		11,345,496
3.65%, 02/01/26 (Call 11/03/25)		9,986		10,631,070
3.85%, 02/01/23 (Call 11/01/22)^(a)		10,479		11,007,526
4.50%, 12/01/28 (Call 09/01/28)		13,209		15,014,975
Brixmor Operating Partnership LP, 4.13%, 05/15/29 (Call 02/15/29)		361		390,680
CC Holdings GS V LLC/Crown Castle GS III Corp., 3.85%, 04/15/23		10,377		10,936,101
Crown Castle International Corp.
3.15%, 07/15/23 (Call 06/15/23)^(a)		8,115		8,354,637
3.20%, 09/01/24 (Call 07/01/24)		7,579		7,851,081
3.65%, 09/01/27 (Call 06/01/27)		10,298		10,914,906
3.70%, 06/15/26 (Call 03/15/26)^(a)		14,123		14,978,915
3.80%, 02/15/28 (Call 11/15/27)^(a)		18,121		19,345,534
4.45%, 02/15/26 (Call 11/15/25)		12,349		13,565,059
5.25%, 01/15/23^(a)		16,763		18,295,177
Digital Realty Trust LP
3.60%, 07/01/29 (Call 04/01/29)		12,240		12,844,635
3.70%, 08/15/27 (Call 05/15/27)		13,832		14,576,441
ERP Operating LP
4.50%, 07/01/44 (Call 01/01/44)		7,768		9,294,500
4.63%, 12/15/21 (Call 09/15/21)		2,037		2,135,182
GLP Capital LP/GLP Financing II Inc.
5.25%, 06/01/25 (Call 03/01/25)		11,749		12,911,279
5.30%, 01/15/29 (Call 10/15/28)		6,571		7,286,564
5.38%, 04/15/26 (Call 01/15/26)		10,561		11,650,472


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
HCP Inc.
3.88%, 08/15/24 (Call 05/17/24)^(a)	$	10,905	$	11,646,388
4.00%, 06/01/25 (Call 03/01/25)^(a)		7,079		7,646,911
4.25%, 11/15/23 (Call 08/15/23)		1,175		1,262,958
Realty Income Corp.
3.25%, 10/15/22 (Call 07/15/22)^(a)		6,357		6,576,358
4.65%, 08/01/23 (Call 05/01/23)		2,637		2,867,643
Simon Property Group LP
2.00%, 09/13/24 (Call 06/13/24)		10,575		10,554,115
2.45%, 09/13/29 (Call 06/13/29)^(a)		15,500		15,337,721
3.25%, 11/30/26 (Call 08/30/26)^(a)		8,344		8,793,459
3.25%, 09/13/49 (Call 03/13/49)^(a)		13,130		12,965,690
3.30%, 01/15/26 (Call 10/15/25)		9,225		9,717,161
3.38%, 10/01/24 (Call 07/01/24)^(a)		9,340		9,857,472
3.38%, 06/15/27 (Call 03/15/27)		5,125		5,449,682
3.38%, 12/01/27 (Call 09/01/27)^(a)		7,582		8,089,958
Ventas Realty LP, 4.40%, 01/15/29 (Call 10/15/28)		3,523		3,926,033
Welltower Inc.
3.10%, 01/15/30 (Call 10/15/29)^(a)		11,575		11,709,728
3.63%, 03/15/24 (Call 02/15/24)^(a)		2,150		2,268,906
4.00%, 06/01/25 (Call 03/01/25)^(a)		20,386		21,983,594
4.25%, 04/15/28 (Call 01/15/28)^(a)		6,858		7,578,962
Weyerhaeuser Co.
4.00%, 11/15/29 (Call 08/15/29)		1,038		1,128,505
7.38%, 03/15/32^(a)		20,682		28,888,781

				531,776,057

Retail — 3.7%
Costco Wholesale Corp.
2.75%, 05/18/24 (Call 03/18/24)^(a)		9,193		9,531,951
3.00%, 05/18/27 (Call 02/18/27)^(a)		11,607		12,332,765
Dollar General Corp., 3.25%, 04/15/23 (Call 01/15/23)^(a)		5,611		5,818,210
Dollar Tree Inc.
3.70%, 05/15/23 (Call 04/15/23)		12,160		12,694,940
4.00%, 05/15/25 (Call 03/15/25)^(a)		7,060		7,579,059
4.20%, 05/15/28 (Call 02/15/28)^(a)		21,392		23,238,125
Home Depot Inc. (The)
2.13%, 09/15/26 (Call 06/15/26)^(a)		9,884		9,881,263
2.70%, 04/01/23 (Call 01/01/23)^(a)		11,107		11,421,378
2.80%, 09/14/27 (Call 06/14/27)^(a)		13,431		14,008,294
2.95%, 06/15/29 (Call 03/15/29)		15,589		16,352,951
3.00%, 04/01/26 (Call 01/01/26)^(a)		11,631		12,219,766
3.35%, 09/15/25 (Call 06/15/25)^(a)		11,221		12,029,088
3.50%, 09/15/56 (Call 03/15/56)^(a)		9,007		9,607,654
3.75%, 02/15/24 (Call 11/15/23)^(a)		10,689		11,497,801
3.90%, 12/06/28 (Call 09/06/28)^(a)		10,985		12,429,342
3.90%, 06/15/47 (Call 12/15/46)		8,374		9,584,179
4.20%, 04/01/43 (Call 10/01/42)^(a)		16,210		18,990,728
4.25%, 04/01/46 (Call 10/01/45)^(a)		17,139		20,513,642
4.40%, 03/15/45 (Call 09/15/44)		16,471		19,931,391
4.50%, 12/06/48 (Call 06/06/48)^(a)		17,890		22,439,062
4.88%, 02/15/44 (Call 08/15/43)		14,556		18,652,885
5.88%, 12/16/36^(a)		32,255		44,817,406
5.95%, 04/01/41 (Call 10/01/40)^(a)		12,330		17,561,964
Lowe’s Companies Inc.
2.50%, 04/15/26 (Call 01/15/26)		14,975		15,033,473
3.10%, 05/03/27 (Call 02/03/27)		12,887		13,320,967
3.38%, 09/15/25 (Call 06/15/25)		10,175		10,769,437
3.65%, 04/05/29 (Call 01/05/29)^(a)		15,549		16,698,912
3.70%, 04/15/46 (Call 10/15/45)		11,448		11,521,658


Security	Par (000)		Value

Retail (continued)
4.05%, 05/03/47 (Call 11/03/46)	$	16,306	$	17,329,290
4.38%, 09/15/45 (Call 03/15/45)		14,904		16,361,489
4.55%, 04/05/49 (Call 10/05/48)^(a)		20,487		23,347,211
4.65%, 04/15/42 (Call 10/15/41)^(a)		5,996		6,793,575
Macy’s Retail Holdings Inc., 2.88%, 02/15/23 (Call 11/15/22)^(a)		4,544		4,514,647
McDonald’s Corp.
2.63%, 09/01/29 (Call 06/01/29)		15,525		15,611,743
3.35%, 04/01/23 (Call 03/01/23)^(a)		8,930		9,330,551
3.50%, 03/01/27 (Call 12/01/26)^(a)		6,965		7,458,964
3.63%, 09/01/49 (Call 03/01/49)^(a)		11,225		11,404,351
3.70%, 01/30/26 (Call 10/30/25)^(a)		16,784		18,125,891
3.80%, 04/01/28 (Call 01/01/28)^(a)		7,069		7,760,057
4.45%, 03/01/47 (Call 09/01/46)^(a)		20,369		23,486,533
4.45%, 09/01/48 (Call 03/01/48)^(a)		15,456		17,872,770
4.70%, 12/09/35 (Call 06/09/35)		13,133		15,550,213
4.88%, 12/09/45 (Call 06/09/45)^(a)		6,590		8,003,208
6.30%, 10/15/37^(a)		13,237		18,011,618
6.30%, 03/01/38		6,578		9,006,607
O’Reilly Automotive Inc., 3.60%, 09/01/27 (Call 06/01/27)		4,570		4,882,170
Starbucks Corp.
3.10%, 03/01/23 (Call 02/01/23)^(a)		9,832		10,173,087
3.55%, 08/15/29 (Call 05/15/29)		14,934		16,133,172
3.80%, 08/15/25 (Call 06/15/25)^(a)		16,913		18,358,119
3.85%, 10/01/23 (Call 07/01/23)		6,876		7,315,392
4.00%, 11/15/28 (Call 08/15/28)		9,504		10,612,964
4.45%, 08/15/49 (Call 02/15/49)^(a)		5,780		6,676,796
4.50%, 11/15/48 (Call 05/15/48)^(a)		18,719		21,629,243
Target Corp.
2.50%, 04/15/26^(a)		13,602		13,924,887
3.38%, 04/15/29 (Call 01/15/29)^(a)		11,209		12,178,409
3.50%, 07/01/24^(a)		10,213		10,954,130
3.63%, 04/15/46^(a)		15,613		17,047,688
3.90%, 11/15/47 (Call 05/15/47)^(a)		13,653		15,594,593
4.00%, 07/01/42^(a)		13,293		15,224,999
TJX Companies Inc. (The), 2.25%, 09/15/26 (Call 06/15/26)^(a)		14,659		14,717,441
Walgreen Co., 3.10%, 09/15/22^(a)		13,128		13,528,388
Walgreens Boots Alliance Inc.
3.45%, 06/01/26 (Call 03/01/26)		25,652		26,602,153
3.80%, 11/18/24 (Call 08/18/24)^(a)		19,336		20,467,703
4.80%, 11/18/44 (Call 05/18/44)^(a)		17,200		18,358,645
Walmart Inc.
2.35%, 12/15/22 (Call 11/15/22)		10,161		10,334,342
2.55%, 04/11/23 (Call 01/11/23)^(a)		14,212		14,532,202
2.65%, 12/15/24 (Call 10/15/24)		17,152		17,748,471
2.85%, 07/08/24 (Call 06/08/24)^(a)		17,584		18,343,119
2.95%, 09/24/49 (Call 03/24/49)		8,316		8,294,075
3.05%, 07/08/26 (Call 05/08/26)^(a)		13,411		14,252,819
3.25%, 07/08/29 (Call 04/08/29)		17,895		19,355,491
3.30%, 04/22/24 (Call 01/22/24)		17,534		18,517,910
3.40%, 06/26/23 (Call 05/26/23)^(a)		29,861		31,463,237
3.55%, 06/26/25 (Call 04/26/25)^(a)		24,912		26,982,999
3.63%, 12/15/47 (Call 06/15/47)^(a)		23,427		26,240,470
3.70%, 06/26/28 (Call 03/26/28)		41,501		46,071,970
3.95%, 06/28/38 (Call 12/28/37)^(a)		21,584		25,213,816
4.05%, 06/29/48 (Call 12/29/47)		33,689		40,231,737
5.25%, 09/01/35		23,541		31,053,364
5.63%, 04/01/40^(a)		3,481		4,863,603


Security	Par (000)		Value

Retail (continued)
5.63%, 04/15/41	$	6,170	$	8,735,815
6.20%, 04/15/38^(a)		4,764		7,054,237

				1,294,116,665

Semiconductors — 2.2%
Analog Devices Inc.
3.50%, 12/05/26 (Call 09/05/26)^(a)		8,932		9,388,671
3.90%, 12/15/25 (Call 09/15/25)		17,181		18,530,274
Applied Materials Inc.
3.30%, 04/01/27 (Call 01/01/27)		19,916		21,273,992
4.35%, 04/01/47 (Call 10/01/46)^(a)		6,447		7,825,944
Broadcom Corp./Broadcom Cayman Finance Ltd.
2.65%, 01/15/23 (Call 12/15/22)^(a)		10,448		10,468,193
3.13%, 01/15/25 (Call 11/15/24)^(a)		20,388		20,370,191
3.50%, 01/15/28 (Call 10/15/27)		14,510		14,192,153
3.63%, 01/15/24 (Call 11/15/23)		22,809		23,464,357
3.88%, 01/15/27 (Call 10/15/26)		56,567		57,124,208
Broadcom Inc.
3.63%, 10/15/24 (Call 09/15/24)^(a)(b)		27,292		28,024,817
4.25%, 04/15/26 (Call 02/15/26)^(a)(b)		29,681		30,956,458
4.75%, 04/15/29 (Call 01/15/29)^(a)(b)		33,165		35,106,071
Intel Corp.
2.60%, 05/19/26 (Call 02/19/26)^(a)		18,761		19,300,439
2.70%, 12/15/22		15,050		15,457,853
2.88%, 05/11/24 (Call 03/11/24)		12,566		13,074,909
3.15%, 05/11/27 (Call 02/11/27)		11,865		12,637,673
3.70%, 07/29/25 (Call 04/29/25)^(a)		23,054		25,060,145
3.73%, 12/08/47 (Call 06/08/47)^(a)		23,906		26,725,813
4.00%, 12/15/32		13,022		15,098,797
4.10%, 05/19/46 (Call 11/19/45)^(a)		10,051		11,726,728
4.10%, 05/11/47 (Call 11/11/46)^(a)		15,855		18,497,485
4.80%, 10/01/41^(a)		4,945		6,244,309
4.90%, 07/29/45 (Call 01/29/45)^(a)		7,686		9,940,119
KLA Corp.
4.10%, 03/15/29 (Call 12/15/28)^(a)		13,857		15,320,847
4.65%, 11/01/24 (Call 08/01/24)^(a)		12,698		14,003,041
Lam Research Corp.
3.75%, 03/15/26 (Call 01/15/26)^(a)		12,890		13,867,048
4.00%, 03/15/29 (Call 12/15/28)^(a)		18,821		20,811,983
4.88%, 03/15/49 (Call 09/15/48)		5,270		6,480,614
Microchip Technology Inc., 4.33%, 06/01/23 (Call 05/01/23)^(a)		10,831		11,461,019
Micron Technology Inc.
4.19%, 02/15/27 (Call 12/15/26)^(a)		9,085		9,462,635
4.66%, 02/15/30 (Call 11/15/29)		11,383		11,988,959
NVIDIA Corp., 3.20%, 09/16/26 (Call 06/16/26)^(a)		10,105		10,620,957
NXP BV/NXP Funding LLC, 4.88%, 03/01/24 (Call 02/01/24)^(a)(b)		4,172		4,532,754
NXP BV/NXP Funding LLC/NXP USA Inc.
3.88%, 06/18/26 (Call 04/18/26)^(a)(b)		15,142		15,901,137
4.30%, 06/18/29 (Call 03/18/29)^(a)(b)		13,237		14,118,253
QUALCOMM Inc.
2.60%, 01/30/23 (Call 12/30/22)^(a)		14,535		14,800,499
2.90%, 05/20/24 (Call 03/20/24)		17,463		18,009,351
3.00%, 05/20/22		2,643		2,711,028
3.25%, 05/20/27 (Call 02/20/27)^(a)		20,678		21,760,590
3.45%, 05/20/25 (Call 02/20/25)^(a)		21,988		23,309,688
4.30%, 05/20/47 (Call 11/20/46)^(a)		16,669		18,737,341
4.65%, 05/20/35 (Call 11/20/34)^(a)		7,753		9,140,903
4.80%, 05/20/45 (Call 11/20/44)^(a)		17,808		21,206,525


Security	Par (000)		Value

Semiconductors (continued)
Texas Instruments Inc.
2.25%, 09/04/29 (Call 06/04/29)^(a)	$	3,065	$	3,025,102
3.88%, 03/15/39 (Call 09/15/38)		3,010		3,432,843
4.15%, 05/15/48 (Call 11/15/47)^(a)		17,767		21,519,154

				756,711,870

Software — 3.9%
Fidelity National Information Services Inc.
3.00%, 08/15/26 (Call 05/15/26)^(a)		14,762		15,251,852
3.50%, 04/15/23 (Call 01/15/23)		1,844		1,922,979
3.75%, 05/21/29 (Call 02/21/29)^(a)		11,484		12,483,038
5.00%, 10/15/25 (Call 07/15/25)		12,504		14,288,556
Fiserv Inc.
2.75%, 07/01/24 (Call 06/01/24)		28,346		28,938,831
3.20%, 07/01/26 (Call 05/01/26)^(a)		19,220		20,075,373
3.50%, 07/01/29 (Call 04/01/29)^(a)		36,064		38,134,088
3.80%, 10/01/23 (Call 09/01/23)^(a)		8,183		8,670,546
3.85%, 06/01/25 (Call 03/01/25)^(a)		15,134		16,306,847
4.20%, 10/01/28 (Call 07/01/28)^(a)		8,542		9,489,521
4.40%, 07/01/49 (Call 01/01/49)		25,731		28,736,075
Microsoft Corp.
2.00%, 08/08/23 (Call 06/08/23)		14,479		14,608,680
2.13%, 11/15/22^(a)		5,859		5,933,393
2.38%, 05/01/23 (Call 02/01/23)		13,212		13,479,432
2.40%, 08/08/26 (Call 05/08/26)^(a)		42,490		43,511,336
2.65%, 11/03/22 (Call 09/03/22)		7,596		7,797,713
2.70%, 02/12/25 (Call 11/12/24)		27,353		28,461,554
2.88%, 02/06/24 (Call 12/06/23)		20,195		21,035,962
3.13%, 11/03/25 (Call 08/03/25)^(a)		30,240		32,195,872
3.30%, 02/06/27 (Call 11/06/26)		45,488		49,226,731
3.45%, 08/08/36 (Call 02/08/36)		26,238		28,752,954
3.50%, 02/12/35 (Call 08/12/34)		15,066		16,512,154
3.50%, 11/15/42^(a)		10,483		11,519,963
3.63%, 12/15/23 (Call 09/15/23)		15,451		16,538,165
3.70%, 08/08/46 (Call 02/08/46)		50,573		57,519,040
3.75%, 02/12/45 (Call 08/12/44)^(a)		14,429		16,476,263
3.95%, 08/08/56 (Call 02/08/56)^(a)		26,856		31,801,309
4.00%, 02/12/55 (Call 08/12/54)		28,754		34,245,660
4.10%, 02/06/37 (Call 08/06/36)^(a)		29,252		34,653,648
4.20%, 11/03/35 (Call 05/03/35)^(a)		12,193		14,486,379
4.25%, 02/06/47 (Call 08/06/46)		35,384		43,667,118
4.45%, 11/03/45 (Call 05/03/45)		35,160		44,756,148
4.50%, 10/01/40^(a)		15,024		18,888,397
4.50%, 02/06/57 (Call 08/06/56)		23,203		30,017,197
4.75%, 11/03/55 (Call 05/03/55)		12,338		16,537,296
5.20%, 06/01/39^(a)		7,096		9,545,514
5.30%, 02/08/41^(a)		9,268		12,680,317
Oracle Corp.
2.40%, 09/15/23 (Call 07/15/23)^(a)		26,689		27,067,837
2.50%, 10/15/22^(a)		12,790		13,030,703
2.63%, 02/15/23 (Call 01/15/23)^(a)		13,330		13,604,069
2.65%, 07/15/26 (Call 04/15/26)^(a)		32,434		33,289,405
2.95%, 11/15/24 (Call 09/15/24)^(a)		25,158		26,193,883
2.95%, 05/15/25 (Call 02/15/25)		31,081		32,364,362
3.25%, 11/15/27 (Call 08/15/27)^(a)		36,182		38,529,752
3.40%, 07/08/24 (Call 04/08/24)^(a)		18,058		19,106,216
3.63%, 07/15/23^(a)		13,760		14,579,957
3.80%, 11/15/37 (Call 05/15/37)^(a)		22,917		25,138,732
3.85%, 07/15/36 (Call 01/15/36)		10,836		11,955,519
3.90%, 05/15/35 (Call 11/15/34)		17,172		19,134,050
4.00%, 07/15/46 (Call 01/15/46)		36,167		40,244,862


Security	Par (000)		Value

Software (continued)
4.00%, 11/15/47 (Call 05/15/47)^(a)	$	28,944	$	32,370,599
4.13%, 05/15/45 (Call 11/15/44)		20,227		22,797,908
4.30%, 07/08/34 (Call 01/08/34)		21,749		25,482,109
4.38%, 05/15/55 (Call 11/15/54)^(a)		9,361		11,062,368
4.50%, 07/08/44 (Call 01/08/44)^(a)		13,691		16,238,033
5.38%, 07/15/40		27,169		35,269,810
6.13%, 07/08/39		11,753		16,550,778
6.50%, 04/15/38^(a)		6,940		10,028,133
salesforce.com Inc.
3.25%, 04/11/23 (Call 03/11/23)		9,720		10,130,333
3.70%, 04/11/28 (Call 01/11/28)^(a)		18,798		20,728,429
VMware Inc., 3.90%, 08/21/27 (Call 05/21/27)^(a)		17,258		17,813,782

				1,381,857,530

Telecommunications — 6.7%
AT&T Inc.
2.63%, 12/01/22 (Call 09/01/22)		10,414		10,572,509
3.00%, 02/15/22		2,866		2,930,252
3.00%, 06/30/22 (Call 04/30/22)		10,960		11,212,458
3.20%, 03/01/22 (Call 02/01/22)		1,466		1,503,877
3.40%, 05/15/25 (Call 02/15/25)^(a)		47,267		49,469,004
3.55%, 06/01/24 (Call 03/01/24)		3,679		3,860,623
3.60%, 02/17/23 (Call 12/17/22)^(a)		14,773		15,421,449
3.60%, 07/15/25 (Call 04/15/25)		22,632		23,918,174
3.80%, 03/01/24 (Call 01/01/24)		1,565		1,658,388
3.80%, 02/15/27 (Call 11/15/26)		15,161		16,198,952
3.90%, 03/11/24 (Call 12/11/23)		4,728		5,015,035
3.95%, 01/15/25 (Call 10/15/24)^(a)		21,999		23,545,611
4.10%, 02/15/28 (Call 11/15/27)		18,111		19,632,619
4.13%, 02/17/26 (Call 11/17/25)^(a)		35,644		38,638,520
4.25%, 03/01/27 (Call 12/01/26)^(a)		22,460		24,534,830
4.30%, 02/15/30 (Call 11/15/29)		38,001		41,797,190
4.30%, 12/15/42 (Call 06/15/42)^(a)		24,411		25,640,975
4.35%, 03/01/29 (Call 12/01/28)^(a)		29,846		32,984,567
4.35%, 06/15/45 (Call 12/15/44)		34,027		35,758,665
4.45%, 04/01/24 (Call 01/01/24)		16,459		17,812,514
4.50%, 05/15/35 (Call 11/15/34)^(a)		31,066		34,104,075
4.50%, 03/09/48 (Call 09/09/47)^(a)		51,633		55,063,440
4.55%, 03/09/49 (Call 09/09/48)		31,142		33,468,423
4.75%, 05/15/46 (Call 11/15/45)^(a)		41,939		46,373,307
4.80%, 06/15/44 (Call 12/15/43)		30,161		33,502,881
4.85%, 03/01/39 (Call 09/01/38)^(a)		20,361		22,888,645
4.85%, 07/15/45 (Call 01/15/45)^(a)		10,232		11,409,004
4.90%, 08/15/37 (Call 02/14/37)		15,253		17,296,197
5.15%, 03/15/42^(a)		17,029		19,597,011
5.15%, 11/15/46 (Call 05/15/46)^(a)		22,240		25,830,088
5.15%, 02/15/50 (Call 08/14/49)^(a)		15,004		17,541,350
5.25%, 03/01/37 (Call 09/01/36)		35,527		41,813,719
5.35%, 09/01/40^(a)		20,172		23,901,769
5.45%, 03/01/47 (Call 09/01/46)^(a)		23,344		28,183,601
5.55%, 08/15/41		8,147		9,780,398
5.65%, 02/15/47 (Call 08/15/46)		19,572		24,129,512
5.70%, 03/01/57 (Call 09/01/56)		11,892		14,914,377
6.00%, 08/15/40 (Call 05/15/40)		9,808		12,300,410
6.30%, 01/15/38^(a)		705		902,575
6.38%, 03/01/41		11,957		15,557,687
British Telecommunications PLC, 9.63%, 12/15/30		30,049		46,100,482
Cisco Systems Inc.
2.20%, 09/20/23 (Call 07/20/23)^(a)		12,948		13,117,460
2.50%, 09/20/26 (Call 06/20/26)^(a)		12,673		13,046,129
2.95%, 02/28/26		8,445		8,916,861


Security	Par (000)		Value

Telecommunications (continued)
3.63%, 03/04/24^(a)	$	8,561	$	9,187,980
5.50%, 01/15/40		24,346		33,427,672
5.90%, 02/15/39		21,483		30,403,717
Deutsche Telekom International Finance BV, 8.75%, 06/15/30		40,983		60,442,556
Orange SA
5.38%, 01/13/42^(a)		8,980		11,389,153
5.50%, 02/06/44 (Call 08/06/43)^(a)		8,004		10,500,171
9.00%, 03/01/31^(a)		36,797		57,309,565
Rogers Communications Inc.
4.10%, 10/01/23 (Call 07/01/23)		3,917		4,175,645
4.30%, 02/15/48 (Call 08/15/47)^(a)		7,644		8,534,653
4.35%, 05/01/49 (Call 11/01/48)		19,098		21,451,840
5.00%, 03/15/44 (Call 09/15/43)^(a)		10,554		12,764,567
Telefonica Emisiones SA
4.10%, 03/08/27^(a)		19,630		21,327,184
4.57%, 04/27/23		6,371		6,868,523
4.67%, 03/06/38^(a)		11,122		12,222,811
4.90%, 03/06/48^(a)		15,771		17,649,591
5.21%, 03/08/47^(a)		29,693		34,604,445
5.52%, 03/01/49 (Call 09/01/48)^(a)		13,720		16,646,897
7.05%, 06/20/36^(a)		19,933		27,652,939
Telefonica Europe BV, 8.25%, 09/15/30^(a)		10,426		15,076,566
TELUS Corp., 4.60%, 11/16/48 (Call 05/16/48)		4,402		5,162,744
Verizon Communications Inc.
2.63%, 08/15/26^(a)		23,214		23,676,298
3.38%, 02/15/25		34,198		36,295,093
3.50%, 11/01/24 (Call 08/01/24)		23,272		24,705,653
3.85%, 11/01/42 (Call 05/01/42)^(a)		11,005		11,779,532
3.88%, 02/08/29 (Call 11/08/28)^(a)		9,771		10,798,721
4.02%, 12/03/29 (Call 09/03/29)		45,294		50,595,495
4.13%, 03/16/27^(a)		35,981		40,042,485
4.13%, 08/15/46^(a)		19,603		21,860,223
4.27%, 01/15/36		33,481		37,882,978
4.33%, 09/21/28		76,761		87,156,804
4.40%, 11/01/34 (Call 05/01/34)		27,911		32,234,495
4.50%, 08/10/33		34,093		39,854,533
4.52%, 09/15/48^(a)		51,101		60,443,315
4.67%, 03/15/55		35,254		43,280,641
4.75%, 11/01/41		2,597		3,124,840
4.81%, 03/15/39^(a)		17,686		21,399,254
4.86%, 08/21/46		40,988		50,668,062
5.01%, 04/15/49		40,433		51,545,933
5.01%, 08/21/54^(a)		22,590		29,013,975
5.15%, 09/15/23		8,563		9,565,987
5.25%, 03/16/37^(a)		30,118		37,720,979
5.50%, 03/16/47^(a)		18,874		25,359,318
6.55%, 09/15/43^(a)		8,836		13,156,621
Vodafone Group PLC
2.95%, 02/19/23		100		102,522
3.75%, 01/16/24^(a)		25,496		26,860,964
4.13%, 05/30/25^(a)		20,813		22,558,730
4.25%, 09/17/50		16,290		16,691,177
4.38%, 05/30/28		40,140		44,601,577
4.38%, 02/19/43^(a)		12,431		12,953,638
4.88%, 06/19/49^(a)		19,737		22,160,419
5.00%, 05/30/38		6,585		7,537,430
5.25%, 05/30/48^(a)		32,744		38,449,829
6.15%, 02/27/37^(a)		19,400		24,743,422

				2,367,465,775


Security	Par (000)		Value

Transportation — 1.4%
Burlington Northern Santa Fe LLC
3.55%, 02/15/50 (Call 08/15/49)^(a)	$	5,145	$	5,461,952
3.85%, 09/01/23 (Call 06/01/23)^(a)		5,250		5,601,622
3.90%, 08/01/46 (Call 02/01/46)^(a)		11,556		12,866,044
4.05%, 06/15/48 (Call 12/15/47)		9,623		10,997,153
4.13%, 06/15/47 (Call 12/15/46)		8,701		10,012,740
4.15%, 04/01/45 (Call 10/01/44)		14,374		16,507,705
4.15%, 12/15/48 (Call 06/15/48)^(a)		8,057		9,366,707
4.45%, 03/15/43 (Call 09/15/42)^(a)		12,246		14,490,293
4.55%, 09/01/44 (Call 03/01/44)		4,022		4,822,303
4.90%, 04/01/44 (Call 10/01/43)^(a)		9,919		12,384,267
5.75%, 05/01/40 (Call 11/01/39)		8,316		11,187,427
Canadian Pacific Railway Co., 6.13%, 09/15/2115 (Call 03/15/2115)		8,876		12,948,102
CSX Corp.
3.25%, 06/01/27 (Call 03/01/27)		15,494		16,338,273
3.80%, 03/01/28 (Call 12/01/27)		9,830		10,732,976
3.80%, 11/01/46 (Call 05/01/46)		6,361		6,688,964
4.10%, 03/15/44 (Call 09/15/43)^(a)		12,976		14,179,542
4.25%, 03/15/29 (Call 12/15/28)^(a)		9,211		10,431,789
4.30%, 03/01/48 (Call 09/01/47)		9,081		10,291,729
FedEx Corp.
3.10%, 08/05/29 (Call 05/05/29)^(a)		13,647		13,655,289
3.25%, 04/01/26 (Call 01/01/26)^(a)		7,744		8,024,275
4.00%, 01/15/24		5,944		6,341,375
4.05%, 02/15/48 (Call 08/15/47)		12,920		12,732,930
4.40%, 01/15/47 (Call 07/15/46)		10,082		10,341,197
4.55%, 04/01/46 (Call 10/01/45)		15,013		15,700,456
4.75%, 11/15/45 (Call 05/15/45)		15,321		16,493,162
4.95%, 10/17/48 (Call 04/17/48)		7,453		8,300,076
5.10%, 01/15/44		8,984		10,092,244
Norfolk Southern Corp., 5.10%, 08/01/2118 (Call 02/01/2118)		6,035		7,263,600
Union Pacific Corp.
3.70%, 03/01/29 (Call 12/01/28)		11,427		12,500,346
3.80%, 10/01/51 (Call 04/01/51)^(a)		6,820		7,275,897
3.95%, 09/10/28 (Call 06/10/28)		38,594		42,798,427
4.30%, 03/01/49 (Call 09/01/48)^(a)		8,145		9,451,381
4.38%, 09/10/38 (Call 03/10/38)		6,327		7,315,212
4.50%, 09/10/48 (Call 03/10/48)		19,086		23,015,540
United Parcel Service Inc.
2.45%, 10/01/22^(a)		8,329		8,467,530


Security	Par/ Shares (000)		Value

Transportation (continued)
2.50%, 04/01/23 (Call 03/01/23)	$	8,844	$	9,010,056
3.05%, 11/15/27 (Call 08/15/27)^(a)		15,087		15,855,453
3.40%, 03/15/29 (Call 12/15/28)		2,418		2,601,736
3.75%, 11/15/47 (Call 05/15/47)^(a)		13,154		14,161,899
4.25%, 03/15/49 (Call 09/15/48)		3,984		4,615,740
6.20%, 01/15/38^(a)		15,997		22,494,026

				483,817,435

Water — 0.0%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)^(a)		11,676		12,572,717
6.59%, 10/15/37		2,229		3,149,582

				15,722,299


Total Corporate Bonds & Notes — 99.1% (Cost: $33,148,512,424)				34,834,857,125


Short-Term Investments

Money Market Funds — 6.5%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.00%^(d)(e)(f)		2,139,165		2,140,234,374
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(d)(e)		129,196		129,196,000

				2,269,430,374


Total Short-Term Investments — 6.5% (Cost: $2,268,457,523)				2,269,430,374


Total Investments in Securities — 105.6% (Cost: $35,416,969,947)				37,104,287,499

Other Assets, Less Liabilities — (5.6)%				(1,956,509,985	)


Net Assets — 100.0%			$	35,147,777,514

^(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.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.4%
Lamar Media Corp.
5.00%, 05/01/23 (Call 04/01/19)^(a)	$	10,803	$	11,017,653
5.38%, 01/15/24 (Call 04/01/19)^(a)		9,075		9,324,563
5.75%, 02/01/26 (Call 02/01/21)^(a)		9,536		9,965,120
5.75%, 02/01/26 (Call 02/01/21)^(b)		1,552		1,623,780
Outfront Media Capital LLC/Outfront Media Capital Corp.
5.25%, 02/15/22 (Call 04/01/19)^(a)		10,887		11,053,571
5.63%, 02/15/24 (Call 04/01/19)^(a)		8,504		8,748,490
5.88%, 03/15/25 (Call 09/15/19)^(a)		10,143		10,399,618

				62,132,795

Aerospace & Defense — 2.4%
Arconic Inc.
5.13%, 10/01/24 (Call 07/01/24)^(a)		23,429		23,260,311
5.40%, 04/15/21 (Call 01/15/21)		23,921		24,561,351
5.87%, 02/23/22		11,986		12,530,365
6.15%, 08/15/20^(a)		12,519		12,947,776
Bombardier Inc.
5.75%, 03/15/22^(b)		9,095		9,160,370
6.00%, 10/15/22 (Call 04/01/19)^(a)(b)		23,735		23,853,675
6.13%, 01/15/23^(a)(b)		23,343		23,518,072
7.50%, 12/01/24 (Call 12/01/20)^(a)(b)		18,501		18,824,767
7.50%, 03/15/25 (Call 03/15/20)^(a)(b)		26,753		26,987,089
7.75%, 03/15/20^(b)		8,812		9,220,436
7.88%, 04/15/27^(b)		7,740		7,681,640
8.75%, 12/01/21^(b)		26,454		29,104,360
TransDigm Inc.
5.50%, 10/15/20 (Call 03/15/19)^(a)		7,243		7,251,084
6.00%, 07/15/22 (Call 04/01/19)		20,404		20,781,474
6.25%, 03/15/26 (Call 03/15/22)^(a)(b)		39,574		40,513,882
6.38%, 06/15/26 (Call 06/15/21)^(a)		16,308		15,866,326
6.50%, 07/15/24 (Call 07/15/19)^(a)		19,206		19,377,327
6.50%, 05/15/25 (Call 05/15/20)		13,922		13,869,793
7.50%, 03/15/27 (Call 03/15/22)^(b)		10,019		10,068,093
TransDigm UK Holdings PLC, 6.88%, 05/15/26 (Call 05/15/21)^(a)(b)		8,557		8,332,379
Triumph Group Inc., 7.75%, 08/15/25 (Call 08/15/20)^(a)		10,244		9,817,594

				367,528,164

Agriculture — 0.1%
JBS Investments II GmbH, 7.00%, 01/15/26 (Call 01/15/22)^(b)		8,084		8,322,882
Vector Group Ltd., 6.13%, 02/01/25 (Call 02/01/20)^(b)		15,749		13,937,865

				22,260,747

Airlines — 0.1%
Air Canada, 7.75%, 04/15/21^(a)(b)		7,955		8,530,865
American Airlines Group Inc., 4.63%, 03/01/20^(a)(b)		5,791		5,827,193
United Continental Holdings Inc., 4.25%, 10/01/22^(a)		9,076		9,072,044

				23,430,102

Apparel — 0.2%
Hanesbrands Inc.
4.63%, 05/15/24 (Call 02/15/24)^(a)(b)		18,244		18,221,195
4.88%, 05/15/26 (Call 02/15/26)^(a)(b)		16,845		16,602,375

				34,823,570

Auto Manufacturers — 0.9%
Allison Transmission Inc.
4.75%, 10/01/27 (Call 10/01/22)^(b)		6,710		6,424,825
5.00%, 10/01/24 (Call 10/01/19)^(a)(b)		18,453		18,591,397


Security	Par (000)		Value

Auto Manufacturers (continued)
Fiat Chrysler Automobiles NV
4.50%, 04/15/20^(a)	$	16,385	$	16,509,808
5.25%, 04/15/23^(a)		27,701		27,978,010
Jaguar Land Rover Automotive PLC
3.50%, 03/15/20 (Call 12/15/19)^(a)(b)		5,032		4,958,753
4.50%, 10/01/27 (Call 07/01/27)^(a)(b)		8,822		6,859,516
5.63%, 02/01/23 (Call 04/01/19)^(a)(b)		6,651		6,418,215
Navistar International Corp., 6.63%, 11/01/25 (Call 11/01/20)^(a)(b)		20,665		21,296,376
Tesla Inc., 5.30%, 08/15/25 (Call 08/15/20)^(a)(b)		33,409		29,741,587

				138,778,487

Auto Parts & Equipment — 0.6%
American Axle & Manufacturing Inc.
6.25%, 04/01/25 (Call 04/01/20)^(a)		13,280		13,239,828
6.25%, 03/15/26 (Call 03/15/21)^(a)		6,865		6,736,281
6.50%, 04/01/27 (Call 04/01/22)		9,610		9,483,097
6.63%, 10/15/22 (Call 04/01/19)^(a)		8,380		8,568,550
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/20)^(a)(b)		6,221		6,185,683
Dana Inc., 5.50%, 12/15/24 (Call 12/15/19)^(a)		8,110		8,064,381
Goodyear Tire & Rubber Co. (The)
4.88%, 03/15/27 (Call 12/15/26)^(a)		12,657		11,627,959
5.00%, 05/31/26 (Call 05/31/21)^(a)		17,809		16,874,028
5.13%, 11/15/23 (Call 04/01/19)^(a)		18,670		18,700,806

				99,480,613

Banks — 1.2%
CIT Group Inc.
4.13%, 03/09/21 (Call 02/09/21)^(a)		9,791		9,888,910
4.75%, 02/16/24 (Call 11/16/23)^(a)		9,423		9,623,239
5.00%, 08/15/22^(a)		20,770		21,476,803
5.00%, 08/01/23^(a)		15,478		16,052,698
5.25%, 03/07/25 (Call 12/07/24)^(a)		9,269		9,728,186
6.13%, 03/09/28^(a)		6,889		7,489,621
Deutsche Bank AG, 4.30%, 05/24/28 (Call 05/24/23)^(a)(c)(d)		26,792		23,871,616
Deutsche Bank AG/New York NY, 4.88%, 12/01/32 (Call 12/01/27)^(a)(c)(d)		17,964		15,161,894
Fifth Third Bancorp., 5.10%, (Call 06/30/23)^(a)(c)(d)(e)		12,663		12,116,908
Freedom Mortgage Corp.
8.13%, 11/15/24 (Call 11/15/20)^(b)		9,373		8,787,188
8.25%, 04/15/25 (Call 04/15/21)^(b)		11,698		10,996,120
Intesa Sanpaolo SpA, 5.02%, 06/26/24^(b)		17,704		16,401,713
UniCredit SpA, 5.86%, 06/19/32 (Call 06/19/27)^(b)(c)(d)		19,371		17,318,660

				178,913,556

Building Materials — 0.7%
Griffon Corp., 5.25%, 03/01/22 (Call 04/01/19)^(a)		19,638		19,441,620
Standard Industries Inc./NJ
4.75%, 01/15/28 (Call 01/15/23)^(a)(b)		18,679		17,464,865
5.00%, 02/15/27 (Call 02/15/22)^(b)		9,080		8,698,640
5.38%, 11/15/24 (Call 11/15/19)^(a)(b)		19,744		20,098,569
5.50%, 02/15/23 (Call 04/01/19)^(a)(b)		8,727		8,934,266
6.00%, 10/15/25 (Call 10/15/20)^(a)(b)		19,867		20,736,181
Summit Materials LLC/Summit Materials Finance Corp., 6.13%, 07/15/23 (Call 03/18/19)^(a)		12,226		12,520,188

				107,894,329

Chemicals — 1.8%
Ashland LLC, 4.75%, 08/15/22 (Call 05/15/22)^(a)		20,977		21,553,867


Security	Par (000)		Value

Chemicals (continued)
Blue Cube Spinco LLC
9.75%, 10/15/23 (Call 10/15/20)^(a)	$	11,035	$	12,361,959
10.00%, 10/15/25 (Call 10/15/20)^(a)		9,304		10,653,080
CF Industries Inc.
3.45%, 06/01/23^(a)		14,625		14,155,782
7.13%, 05/01/20		5,791		6,018,930
Chemours Co. (The)
5.38%, 05/15/27 (Call 02/15/27)^(a)		9,739		9,516,322
6.63%, 05/15/23 (Call 04/01/19)^(a)		16,821		17,473,655
7.00%, 05/15/25 (Call 05/15/20)^(a)		14,552		15,184,102
Element Solutions Inc., 5.88%, 12/01/25 (Call 12/01/20)^(a)(b)		15,286		15,467,598
Hexion Inc.
6.63%, 04/15/20 (Call 04/01/19)^(a)		23,338		19,895,645
10.38%, 02/01/22 (Call 04/01/19)^(b)		10,492		8,891,970
Hexion Inc./Hexion Nova Scotia Finance ULC, 9.00%, 11/15/20 (Call 04/01/19)^(a)		5,123		1,662,574
Huntsman International LLC
4.88%, 11/15/20 (Call 03/27/19)		10,862		11,133,550
5.13%, 11/15/22 (Call 08/15/22)^(a)		8,202		8,571,090
NOVA Chemicals Corp.
4.88%, 06/01/24 (Call 03/03/24)^(a)(b)		19,506		18,885,709
5.00%, 05/01/25 (Call 01/31/25)^(a)(b)		10,781		10,336,284
5.25%, 08/01/23 (Call 04/01/19)^(a)(b)		8,997		8,966,775
5.25%, 06/01/27 (Call 03/03/27)^(a)(b)		18,192		17,093,483
Olin Corp.
5.00%, 02/01/30 (Call 02/01/24)^(a)		10,807		10,509,807
5.13%, 09/15/27 (Call 03/15/22)^(a)		10,343		10,420,572
Tronox Finance PLC, 5.75%, 10/01/25 (Call 10/01/20)^(a)(b)		10,211		9,457,939
Tronox Inc., 6.50%, 04/15/26 (Call 04/15/21)^(a)(b)		10,655		10,095,613
WR Grace & Co.-Conn, 5.13%, 10/01/21^(a)(b)		13,057		13,434,217

				281,740,523

Coal — 0.1%
Peabody Energy Corp.
6.00%, 03/31/22 (Call 04/01/19)^(b)		6,191		6,248,557
6.38%, 03/31/25 (Call 03/31/20)^(b)		6,906		6,798,957

				13,047,514

Commercial Services — 4.0%
ADT Security Corp. (The)
3.50%, 07/15/22		20,255		19,881,546
4.13%, 06/15/23		13,439		13,180,720
6.25%, 10/15/21		20,017		21,126,212
APX Group Inc.
7.63%, 09/01/23 (Call 09/01/19)^(a)		7,227		6,368,794
7.88%, 12/01/22 (Call 04/01/19)		18,024		17,922,615
8.75%, 12/01/20 (Call 04/01/19)^(a)		12,052		11,976,675
Avis Budget Car Rental LLC/Avis Budget Finance Inc., 5.50%, 04/01/23 (Call 04/01/19)^(a)		13,335		13,485,019
Hertz Corp. (The)
5.50%, 10/15/24 (Call 10/15/19)^(b)		14,151		12,006,976
5.88%, 10/15/20 (Call 04/01/19)		12,592		12,582,163
6.25%, 10/15/22 (Call 04/01/19)^(a)		9,167		8,688,242
7.38%, 01/15/21 (Call 04/01/19)^(a)		11,233		11,231,050
7.63%, 06/01/22 (Call 06/01/19)^(b)		24,310		24,856,975
Jaguar Holding Co. II/Pharmaceutical Product Development LLC, 6.38%, 08/01/23 (Call 04/01/19)^(a)(b)		21,455		21,686,744


Security	Par (000)		Value

Commercial Services (continued)
Nielsen Co Luxembourg SARL/The
5.00%, 02/01/25 (Call 02/01/20)^(a)(b)	$	10,728	$	10,593,900
5.50%, 10/01/21 (Call 04/01/19)^(a)(b)		13,535		13,653,901
Nielsen Finance LLC/Nielsen Finance Co.
4.50%, 10/01/20 (Call 04/01/19)^(a)		15,138		15,137,587
5.00%, 04/15/22 (Call 04/01/19)^(a)(b)		42,546		42,599,182
Prime Security Services Borrower LLC/Prime Finance Inc., 9.25%, 05/15/23 (Call 05/15/19)^(a)(b)		36,407		38,391,181
Refinitiv U.S. Holdings Inc.
6.25%, 05/15/26 (Call 11/15/21)^(a)(b)		23,408		23,585,667
8.25%, 11/15/26 (Call 11/15/21)^(a)(b)		29,245		28,632,683
Service Corp. International/U.S.
4.63%, 12/15/27 (Call 12/15/22)^(a)		10,602		10,496,974
5.38%, 01/15/22 (Call 04/01/19)^(a)		4,742		4,794,137
5.38%, 05/15/24 (Call 05/15/19)^(a)		16,853		17,262,506
ServiceMaster Co. LLC (The), 5.13%, 11/15/24 (Call 11/15/19)^(b)		15,398		15,489,426
Star Merger Sub Inc.
6.88%, 08/15/26 (Call 02/15/22)^(b)		3,935		3,948,773
10.25%, 02/15/27 (Call 02/15/22)^(b)		13,638		14,026,683
United Rentals North America Inc.
4.63%, 07/15/23 (Call 04/01/19)^(a)		18,078		18,431,284
4.63%, 10/15/25 (Call 10/15/20)^(a)		14,044		13,640,634
4.88%, 01/15/28 (Call 01/15/23)^(a)		30,133		28,739,349
5.50%, 07/15/25 (Call 07/15/20)		15,343		15,688,218
5.50%, 05/15/27 (Call 05/15/22)^(a)		18,740		18,735,315
5.75%, 11/15/24 (Call 05/15/19)^(a)		16,435		16,928,050
5.88%, 09/15/26 (Call 09/15/21)^(a)		19,007		19,416,185
6.50%, 12/15/26 (Call 12/15/21)^(a)		20,073		20,951,194
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 08/15/21)^(a)(b)		20,930		21,466,331

				607,602,891

Computers — 1.9%
Banff Merger Sub Inc., 9.75%, 09/01/26 (Call 09/01/21)^(b)		27,334		26,548,148
Dell Inc., 4.63%, 04/01/21^(a)		8,325		8,474,496
Dell International LLC/EMC Corp.
5.88%, 06/15/21 (Call 03/18/19)^(a)(b)		30,922		31,555,901
7.13%, 06/15/24 (Call 06/15/19)^(a)(b)		31,203		32,997,173
EMC Corp.
2.65%, 06/01/20		23,721		23,446,726
3.38%, 06/01/23 (Call 03/01/23)		19,353		18,681,693
Exela Intermediate LLC/Exela Finance Inc., 10.00%, 07/15/23 (Call 07/15/20)^(a)(b)		19,277		19,678,353
Harland Clarke Holdings Corp.
8.38%, 08/15/22 (Call 04/01/19)^(b)		14,707		13,714,278
9.25%, 03/01/21 (Call 04/01/19)^(a)(b)		13,527		13,391,730
Leidos Holdings Inc., 4.45%, 12/01/20 (Call 09/01/20)^(a)		8,647		8,801,565
NCR Corp.
4.63%, 02/15/21 (Call 04/01/19)^(a)		6,405		6,405,000
5.00%, 07/15/22 (Call 04/01/19)^(a)		11,744		11,705,261
5.88%, 12/15/21 (Call 04/01/19)^(a)		8,147		8,269,205
6.38%, 12/15/23 (Call 04/01/19)^(a)		12,753		12,960,236
West Corp., 8.50%, 10/15/25 (Call 10/15/20)^(a)(b)		21,246		17,620,901
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25)^(a)		42,994		40,683,072

				294,933,738


Security	Par (000)		Value

Cosmetics & Personal Care — 0.4%
Avon International Operations Inc., 7.88%, 08/15/22 (Call 08/15/19)^(a)(b)	$	9,748	$	10,058,041
Avon Products Inc.
6.60%, 03/15/20		4,508		4,589,708
7.00%, 03/15/23^(a)		9,809		9,425,223
Edgewell Personal Care Co.
4.70%, 05/19/21^(a)		11,915		12,063,937
4.70%, 05/24/22^(a)		10,804		10,896,698
First Quality Finance Co. Inc.
4.63%, 05/15/21 (Call 04/01/19)^(a)(b)		10,175		10,190,368
5.00%, 07/01/25 (Call 07/01/20)^(a)(b)		6,347		6,204,193

				63,428,168

Diversified Financial Services — 4.1%
Ally Financial Inc.
4.13%, 03/30/20^(a)		7,301		7,346,533
4.13%, 02/13/22^(a)		13,048		13,149,937
4.25%, 04/15/21^(a)		9,841		9,945,561
4.63%, 05/19/22^(a)		8,779		8,962,810
4.63%, 03/30/25^(a)		9,314		9,488,637
5.13%, 09/30/24^(a)		13,941		14,620,624
5.75%, 11/20/25 (Call 10/21/25)^(a)		18,985		20,130,880
7.50%, 09/15/20^(a)		6,158		6,541,638
8.00%, 03/15/20		12,283		12,864,343
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
5.88%, 02/01/22 (Call 04/01/19)		25,569		25,888,612
6.00%, 08/01/20 (Call 04/01/19)^(a)		27,656		27,945,130
6.25%, 02/01/22 (Call 04/01/19)^(a)		23,232		23,924,314
6.38%, 12/15/25 (Call 12/15/20)		15,038		15,526,735
6.75%, 02/01/24 (Call 02/01/20)^(a)		11,468		12,008,169
Jefferies Finance LLC/JFIN Co-Issuer Corp.
6.88%, 04/15/22 (Call 04/01/19)^(a)(b)		7,679		7,674,201
7.25%, 08/15/24 (Call 08/15/20)^(b)		5,996		5,838,605
7.38%, 04/01/20 (Call 04/01/19)^(a)(b)		5,506		5,511,736
7.50%, 04/15/21 (Call 04/01/19)^(b)		7,754		7,894,541
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
5.25%, 03/15/22 (Call 09/15/21)^(a)(b)		7,805		7,965,978
5.25%, 10/01/25 (Call 10/01/20)^(a)(b)		6,541		6,148,540
Lions Gate Capital Holdings LLC
5.88%, 11/01/24 (Call 11/01/19)^(a)(b)		1,070		1,085,248
6.38%, 02/01/24 (Call 02/01/21)^(b)		5,445		5,573,913
Nationstar Mortgage Holdings Inc.
8.13%, 07/15/23 (Call 07/15/20)^(b)		18,365		18,732,300
9.13%, 07/15/26 (Call 07/15/21)^(a)(b)		14,141		14,466,537
Nationstar Mortgage LLC/Nationstar Capital Corp., 6.50%, 07/01/21 (Call 04/01/19)		9,480		9,500,666
Navient Corp.
5.00%, 10/26/20^(a)		9,546		9,634,862
5.50%, 01/25/23^(a)		18,015		17,850,941
5.88%, 03/25/21		11,855		12,088,247
5.88%, 10/25/24^(a)		8,648		8,324,901
6.13%, 03/25/24^(a)		14,811		14,490,610
6.50%, 06/15/22^(a)		18,856		19,401,645
6.63%, 07/26/21^(a)		14,153		14,634,202
6.75%, 06/25/25^(a)		8,034		7,867,278
6.75%, 06/15/26		9,445		9,102,619
7.25%, 01/25/22^(a)		14,319		15,024,695
7.25%, 09/25/23		10,048		10,410,657
8.00%, 03/25/20^(a)		16,017		16,659,194


Security	Par (000)		Value

Diversified Financial Services (continued)
Quicken Loans Inc.
5.25%, 01/15/28 (Call 01/15/23)^(a)(b)	$	18,252	$	16,609,320
5.75%, 05/01/25 (Call 05/01/20)^(a)(b)		23,054		22,840,750
Springleaf Finance Corp.
5.25%, 12/15/19		370		376,207
5.63%, 03/15/23^(a)		14,750		15,009,188
6.13%, 05/15/22^(a)		18,362		19,105,308
6.13%, 03/15/24 (Call 09/15/23)^(a)		12,986		13,132,092
6.88%, 03/15/25^(a)		22,832		23,399,508
7.13%, 03/15/26^(a)		29,101		29,470,824
7.75%, 10/01/21^(a)		12,128		13,034,988
8.25%, 12/15/20^(a)		18,945		20,324,518

				627,528,742

Electric — 2.5%
AES Corp./VA
4.00%, 03/15/21		10,337		10,354,619
4.50%, 03/15/23 (Call 03/15/20)^(a)		9,788		9,861,410
4.88%, 05/15/23 (Call 04/01/19)^(a)		11,467		11,592,420
5.13%, 09/01/27 (Call 09/01/22)^(a)		9,642		9,907,155
5.50%, 04/15/25 (Call 04/15/20)^(a)		11,268		11,620,444
6.00%, 05/15/26 (Call 05/15/21)^(a)		9,468		10,011,753
Calpine Corp.
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		22,026		21,585,480
5.38%, 01/15/23 (Call 04/01/19)^(a)		21,465		21,226,202
5.50%, 02/01/24 (Call 04/01/19)^(a)		12,620		12,146,750
5.75%, 01/15/25 (Call 10/15/19)^(a)		28,441		27,242,761
5.88%, 01/15/24 (Call 04/01/19)^(a)(b)		10,127		10,350,744
6.00%, 01/15/22 (Call 04/01/19)^(a)(b)		14,901		15,154,007
Clearway Energy Operating LLC
5.38%, 08/15/24 (Call 08/15/19)		9,951		9,783,077
5.75%, 10/15/25 (Call 10/15/21)^(a)(b)		11,919		11,710,418
NextEra Energy Operating Partners LP
4.25%, 09/15/24 (Call 07/15/24)^(a)(b)		9,827		9,655,028
4.50%, 09/15/27 (Call 06/15/27)^(b)		9,496		9,044,940
NRG Energy Inc.
5.75%, 01/15/28 (Call 01/15/23)^(a)		15,326		15,728,307
6.25%, 05/01/24 (Call 05/01/19)		14,107		14,600,745
6.63%, 01/15/27 (Call 07/15/21)^(a)		24,494		26,109,073
7.25%, 05/15/26 (Call 05/15/21)^(a)		18,810		20,356,182
Talen Energy Supply LLC
6.50%, 06/01/25 (Call 06/01/20)^(a)		11,993		10,629,396
9.50%, 07/15/22 (Call 07/15/20)^(a)(b)		6,048		6,482,700
10.50%, 01/15/26 (Call 01/15/22)^(a)(b)		12,114		12,652,099
Vistra Energy Corp.
5.88%, 06/01/23 (Call 04/01/19)^(a)		8,608		8,841,582
7.38%, 11/01/22 (Call 04/01/19)		232		240,741
7.63%, 11/01/24 (Call 11/01/19)		17,257		18,340,465
Vistra Operations Co. LLC
5.50%, 09/01/26 (Call 09/01/21)^(a)(b)		17,338		17,988,175
5.63%, 02/15/27 (Call 02/15/22)^(a)(b)		19,017		19,587,510

				382,804,183

Electrical Components & Equipment — 0.2%
Energizer Holdings Inc.
5.50%, 06/15/25 (Call 06/15/20)^(a)(b)		8,532		8,333,808
6.38%, 07/15/26 (Call 07/15/21)^(a)(b)		7,606		7,669,582
7.75%, 01/15/27 (Call 01/15/22)^(a)(b)		10,612		11,291,831

				27,295,221


Security	Par (000)		Value

Electronics — 0.2%
Sensata Technologies BV
4.88%, 10/15/23^(a)(b)	$	9,626	$	9,916,785
5.00%, 10/01/25^(b)		12,962		13,157,443
5.63%, 11/01/24^(a)(b)		5,648		5,918,801

				28,993,029

Energy – Alternate Sources — 0.1%
TerraForm Power Operating LLC
4.25%, 01/31/23 (Call 10/31/22)^(a)(b)		8,677		8,579,384
5.00%, 01/31/28 (Call 07/31/27)^(a)(b)		12,852		12,209,400

				20,788,784

Engineering & Construction — 0.3%
AECOM
5.13%, 03/15/27 (Call 12/15/26)^(a)		17,926		16,984,885
5.88%, 10/15/24 (Call 07/15/24)^(a)		16,308		17,036,175
Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/20)^(a)(b)		17,999		16,256,753

				50,277,813

Entertainment — 1.9%
AMC Entertainment Holdings Inc.
5.75%, 06/15/25 (Call 06/15/20)^(a)		10,908		10,063,908
5.88%, 11/15/26 (Call 11/15/21)^(a)		11,379		10,242,238
6.13%, 05/15/27 (Call 05/15/22)^(a)		8,804		7,917,792
Caesars Resort Collection LLC/CRC Finco Inc., 5.25%, 10/15/25 (Call 10/15/20)^(a)(b)		32,316		30,639,607
Cinemark USA Inc.
4.88%, 06/01/23 (Call 04/01/19)^(a)		14,808		14,864,512
5.13%, 12/15/22 (Call 04/01/19)^(a)		5,472		5,554,080
Eldorado Resorts Inc.
6.00%, 04/01/25 (Call 04/01/20)^(a)		18,266		18,587,482
6.00%, 09/15/26 (Call 09/15/21)^(a)(b)		9,732		9,902,310
International Game Technology PLC
6.25%, 02/15/22 (Call 08/15/21)^(b)		26,672		28,072,280
6.25%, 01/15/27 (Call 07/15/26)^(a)(b)		12,642		13,145,670
6.50%, 02/15/25 (Call 08/15/24)^(a)(b)		20,239		21,554,535
Scientific Games International Inc.
5.00%, 10/15/25 (Call 10/15/20)^(b)		24,475		23,740,750
10.00%, 12/01/22 (Call 04/01/19)^(a)		41,993		44,250,124
Six Flags Entertainment Corp.
4.88%, 07/31/24 (Call 07/31/19)^(b)		17,813		17,545,805
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		10,784		10,599,492
Stars Group Holdings BV/Stars Group US Co-Borrower LLC, 7.00%, 07/15/26 (Call 07/15/21)^(a)(b)		19,171		19,602,348

				286,282,933

Environmental Control — 0.3%
Covanta Holding Corp.
5.88%, 03/01/24 (Call 04/01/19)^(a)		4,750		4,850,937
5.88%, 07/01/25 (Call 07/01/20)		7,905		7,903,024
6.00%, 01/01/27 (Call 01/01/22)^(a)		8,172		8,156,637
GFL Environmental Inc., 5.38%, 03/01/23 (Call 03/01/20)^(a)(b)		8,817		8,315,533
Hulk Finance Corp., 7.00%, 06/01/26 (Call 06/01/21)^(a)(b)		6,687		6,341,784
Tervita Escrow Corp., 7.63%, 12/01/21 (Call 04/01/19)^(a)(b)		3,232		3,207,760

				38,775,675


Security	Par (000)		Value

Food — 2.1%
Albertsons Companies LLC/Safeway Inc./New Albertson’s LP/Albertson’s LLC
5.75%, 03/15/25 (Call 09/15/19)^(a)	$	23,432	$	22,294,290
6.63%, 06/15/24 (Call 06/15/19)		23,239		23,268,049
7.50%, 03/15/26 (Call 03/15/22)^(b)		4,678		4,815,416
B&G Foods Inc.
4.63%, 06/01/21 (Call 04/01/19)^(a)		14,126		14,121,586
5.25%, 04/01/25 (Call 04/01/20)^(a)		18,414		17,585,370
JBS Investments GmbH
6.25%, 02/05/23 (Call 04/01/19)^(b)		13,034		13,200,044
7.25%, 04/03/24 (Call 04/03/19)^(a)(b)		12,849		13,295,995
JBS USA LUX SA/JBS USA Finance Inc.
5.75%, 06/15/25 (Call 06/15/20)^(a)(b)		16,098		16,299,225
5.88%, 07/15/24 (Call 07/15/19)^(a)(b)		12,690		13,045,320
6.75%, 02/15/28 (Call 02/15/23)^(a)(b)		18,513		19,160,955
Lamb Weston Holdings Inc.
4.63%, 11/01/24 (Call 11/01/21)^(a)(b)		15,802		15,855,614
4.88%, 11/01/26 (Call 11/01/21)^(a)(b)		16,892		16,934,230
Pilgrim’s Pride Corp.
5.75%, 03/15/25 (Call 03/15/20)^(a)(b)		17,779		17,751,220
5.88%, 09/30/27 (Call 09/30/22)^(a)(b)		17,089		16,789,942
Post Holdings Inc.
5.00%, 08/15/26 (Call 08/15/21)^(a)(b)		31,514		30,244,301
5.50%, 03/01/25 (Call 03/01/20)^(a)(b)		19,143		19,232,534
5.63%, 01/15/28 (Call 12/01/22)^(a)(b)		17,815		17,303,932
5.75%, 03/01/27 (Call 03/01/22)^(a)(b)		24,283		23,953,446

				315,151,469

Food Service — 0.4%
Aramark Services Inc.
4.75%, 06/01/26 (Call 06/01/21)^(a)		8,545		8,491,233
5.00%, 04/01/25 (Call 04/01/20)^(a)(b)		10,408		10,590,140
5.00%, 02/01/28 (Call 02/01/23)^(a)(b)		22,033		21,757,588
5.13%, 01/15/24 (Call 04/01/19)		16,724		17,122,501

				57,961,462

Gas — 0.4%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25 (Call 02/20/25)^(a)		12,547		12,463,092
5.63%, 05/20/24 (Call 03/20/24)^(a)		13,252		13,351,390
5.75%, 05/20/27 (Call 02/20/27)^(a)		9,363		9,200,903
5.88%, 08/20/26 (Call 05/20/26)^(a)		12,538		12,567,633
NGL Energy Partners LP/NGL Energy Finance Corp., 7.50%, 11/01/23 (Call 11/01/19)		11,842		12,196,050

				59,779,068

Hand & Machine Tools — 0.1%
Colfax Corp.
6.00%, 02/15/24 (Call 02/15/21)^(a)(b)		10,936		11,322,041
6.38%, 02/15/26 (Call 02/15/22)^(b)		5,000		5,212,500

				16,534,541

Health Care – Products — 1.4%
Avantor Inc.
6.00%, 10/01/24 (Call 10/01/20)^(b)		28,443		29,047,414
9.00%, 10/01/25 (Call 10/01/20)^(a)(b)		37,041		39,717,001
Hologic Inc.
4.38%, 10/15/25 (Call 10/15/20)^(a)(b)		18,259		17,985,115
4.63%, 02/01/28 (Call 02/01/23)^(a)(b)		7,943		7,713,811
Kinetic Concepts Inc./KCI USA Inc.
7.88%, 02/15/21 (Call 03/18/19)^(a)(b)		12,026		12,304,853
12.50%, 11/01/21 (Call 05/01/19)^(b)		8,769		9,472,347


Security	Par (000)		Value

Health Care – Products (continued)
Mallinckrodt International Finance SA, 4.75%, 04/15/23^(a)	$	6,394	$	5,202,851
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
4.88%, 04/15/20 (Call 04/01/19)^(a)(b)		9,046		9,001,675
5.50%, 04/15/25 (Call 04/15/20)^(a)(b)		12,902		10,495,003
5.63%, 10/15/23 (Call 04/01/19)^(a)(b)		14,173		12,361,549
5.75%, 08/01/22 (Call 04/01/19)^(a)(b)		16,347		15,387,295
Ortho-Clinical Diagnostics Inc./Ortho-Clinical Diagnostics SA, 6.63%, 05/15/22 (Call 04/01/19)^(b)		24,745		23,815,914
Teleflex Inc.
4.63%, 11/15/27 (Call 11/15/22)^(a)		9,834		9,766,346
4.88%, 06/01/26 (Call 06/01/21)		7,873		7,971,412

				210,242,586

Health Care – Services — 7.0%
Acadia Healthcare Co. Inc., 5.63%, 02/15/23 (Call 04/01/19)^(a)		12,212		12,124,226
Centene Corp.
4.75%, 05/15/22 (Call 05/15/19)		18,272		18,604,404
4.75%, 01/15/25 (Call 01/15/20)		22,485		22,656,761
5.38%, 06/01/26 (Call 06/01/21)^(a)(b)		33,875		35,187,656
5.63%, 02/15/21 (Call 04/01/19)^(a)		19,948		20,243,230
6.13%, 02/15/24 (Call 04/01/19)^(a)		17,951		18,757,192
CHS/Community Health Systems Inc.
5.13%, 08/01/21 (Call 04/01/19)^(a)		18,033		17,672,340
6.25%, 03/31/23 (Call 03/31/20)		57,038		54,970,372
6.88%, 02/01/22 (Call 04/01/19)^(a)		35,171		23,037,005
8.00%, 03/15/26^(b)		15,900		15,690,597
8.13%, 06/30/24 (Call 06/30/21)^(a)(b)		27,094		22,602,991
8.63%, 01/15/24 (Call 01/15/21)^(a)(b)		20,442		21,055,260
11.00%, 06/30/23 (Call 06/30/20)^(a)(b)(f)		31,460		28,853,539
DaVita Inc.
5.00%, 05/01/25 (Call 05/01/20)^(a)		29,080		28,062,200
5.13%, 07/15/24 (Call 07/15/19)^(a)		31,783		31,504,899
5.75%, 08/15/22 (Call 04/01/19)^(a)		23,759		24,247,247
Encompass Health Corp., 5.75%, 11/01/24 (Call 04/01/19)^(a)		23,767		24,011,800
Envision Healthcare Corp., 8.75%, 10/15/26 (Call 10/15/21)^(a)(b)		22,215		20,049,038
HCA Healthcare Inc., 6.25%, 02/15/21^(a)		16,054		16,794,431
HCA Inc.
4.50%, 02/15/27 (Call 08/15/26)^(a)		3,257		3,285,194
4.75%, 05/01/23^(a)		4,397		4,557,041
5.00%, 03/15/24^(a)		1,885		1,969,216
5.25%, 04/15/25		3,130		3,312,968
5.25%, 06/15/26 (Call 12/15/25)^(a)		2,859		3,015,322
5.38%, 02/01/25^(a)		44,948		46,556,298
5.38%, 09/01/26 (Call 03/01/26)		15,946		16,368,459
5.63%, 09/01/28 (Call 03/01/28)		28,290		29,333,194
5.88%, 03/15/22^(a)		4,516		4,804,525
5.88%, 05/01/23^(a)		22,446		23,736,645
5.88%, 02/15/26 (Call 08/15/25)^(a)		22,773		24,039,748
5.88%, 02/01/29 (Call 08/01/28)^(a)		13,028		13,652,259
6.50%, 02/15/20^(a)		7,190		7,405,121
7.50%, 02/15/22^(a)		34,463		37,780,064
MEDNAX Inc.
5.25%, 12/01/23 (Call 04/01/19)^(a)(b)		14,311		14,471,999
6.25%, 01/15/27 (Call 01/15/22)^(a)(b)		13,679		13,747,395
Molina Healthcare Inc., 5.38%, 11/15/22 (Call 08/15/22)^(a)		13,504		13,947,100


Security	Par (000)		Value

Health Care – Services (continued)
MPH Acquisition Holdings LLC, 7.13%, 06/01/24 (Call 06/01/19)^(a)(b)	$	29,779	$	29,833,129
RegionalCare Hospital Partners Holdings Inc., 8.25%, 05/01/23 (Call 05/01/19)^(b)		15,662		16,746,327
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 12/01/21)^(a)(b)		26,517		27,246,218
Tenet Healthcare Corp.
4.38%, 10/01/21^(a)		19,058		19,343,870
4.50%, 04/01/21^(a)		14,635		14,836,231
4.63%, 07/15/24 (Call 07/15/20)^(a)		34,378		34,292,055
4.75%, 06/01/20^(a)		5,161		5,230,901
5.13%, 05/01/25 (Call 05/01/20)		26,481		26,271,202
6.00%, 10/01/20		31,886		32,922,295
6.25%, 02/01/27 (Call 02/01/22)^(b)		15,898		16,404,749
6.75%, 06/15/23^(a)		35,264		36,145,600
7.00%, 08/01/25 (Call 08/01/20)^(a)		9,489		9,512,723
8.13%, 04/01/22^(a)		53,577		57,193,447
WellCare Health Plans Inc.
5.25%, 04/01/25 (Call 04/01/20)		23,055		23,538,002
5.38%, 08/15/26 (Call 08/15/21)^(a)(b)		13,639		14,014,073

				1,081,638,558

Home Builders — 1.6%
Beazer Homes USA Inc.
5.88%, 10/15/27 (Call 10/15/22)^(a)		7,238		6,315,155
8.75%, 03/15/22 (Call 03/18/19)		9,800		10,200,422
Brookfield Residential Properties Inc., 6.50%, 12/15/20 (Call 04/01/19)^(a)(b)		7,264		7,298,446
Brookfield Residential Properties Inc./Brookfield Residential U.S. Corp., 6.13%, 07/01/22 (Call 04/01/19)^(a)(b)		10,712		10,685,220
K Hovnanian Enterprises Inc.
10.00%, 07/15/22 (Call 07/15/19)^(b)		6,831		5,452,846
10.50%, 07/15/24 (Call 07/15/20)^(b)		6,411		4,469,669
KB Home, 7.00%, 12/15/21 (Call 09/15/21)^(a)		9,075		9,632,734
Lennar Corp.
4.13%, 01/15/22 (Call 10/15/21)^(a)		10,946		10,948,566
4.50%, 04/30/24 (Call 01/31/24)^(a)		12,398		12,333,685
4.75%, 04/01/21 (Call 02/01/21)		8,919		9,097,380
4.75%, 11/15/22 (Call 08/15/22)^(a)		11,001		11,231,333
4.75%, 05/30/25 (Call 02/28/25)^(a)		8,840		8,881,437
4.75%, 11/29/27 (Call 05/29/27)^(a)		15,235		14,777,950
4.88%, 12/15/23 (Call 09/15/23)^(a)		8,757		8,918,457
5.88%, 11/15/24 (Call 05/15/24)^(a)		9,138		9,615,004
Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25)^(a)		6,772		6,989,974
PulteGroup Inc.
4.25%, 03/01/21 (Call 02/01/21)^(a)		12,439		12,531,861
5.00%, 01/15/27 (Call 10/15/26)		13,260		12,769,853
5.50%, 03/01/26 (Call 12/01/25)		11,934		12,023,505
Taylor Morrison Communities Inc., 6.63%, 05/15/22 (Call 05/15/19)^(a)		5,101		5,241,278
Taylor Morrison Communities Inc./Taylor Morrison Holdings II Inc., 5.25%, 04/15/21 (Call 04/01/19)^(b)		8,219		8,237,713
Toll Brothers Finance Corp.
4.35%, 02/15/28 (Call 11/15/27)^(a)		7,614		7,194,041
4.38%, 04/15/23 (Call 01/15/23)		9,638		9,644,024
4.88%, 03/15/27 (Call 12/15/26)^(a)		7,238		7,093,240
5.88%, 02/15/22 (Call 11/15/21)^(a)		9,166		9,624,300
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24^(a)		8,344		8,174,512


Security	Par (000)		Value

Home Builders (continued)
William Lyon Homes Inc., 5.88%, 01/31/25 (Call 01/31/20)^(a)	$	7,543	$	6,812,272

				246,194,877

Home Furnishings — 0.1%
Tempur Sealy International Inc.
5.50%, 06/15/26 (Call 06/15/21)^(a)		12,225		12,225,000
5.63%, 10/15/23 (Call 04/01/19)^(a)		8,074		8,154,993

				20,379,993

Household Products & Wares — 0.4%
Kronos Acquisition Holdings Inc., 9.00%, 08/15/23 (Call 04/01/19)^(a)(b)		16,908		14,518,864
Prestige Brands Inc.
5.38%, 12/15/21 (Call 04/01/19)^(a)(b)		7,130		7,161,229
6.38%, 03/01/24 (Call 04/01/19)^(a)(b)		12,055		12,115,275
Spectrum Brands Inc.
5.75%, 07/15/25 (Call 07/15/20)^(a)		18,964		18,561,015
6.63%, 11/15/22 (Call 04/01/19)^(a)		8,234		8,435,780

				60,792,163

Insurance — 0.6%
Acrisure LLC/Acrisure Finance Inc.
7.00%, 11/15/25 (Call 11/15/20)^(a)(b)		17,926		15,830,092
8.13%, 02/15/24 (Call 02/15/21)^(b)		13,875		14,204,531
Genworth Holdings Inc., 7.63%, 09/24/21		14,711		14,390,300
HUB International Ltd., 7.00%, 05/01/26 (Call 05/01/21)^(a)(b)		24,136		23,668,365
Radian Group Inc., 4.50%, 10/01/24 (Call 07/01/24)		9,219		8,969,800
Voya Financial Inc., 5.65%, 05/15/53 (Call 05/15/23)^(a)(c)(d)		12,600		12,472,740

				89,535,828

Internet — 2.0%
Match Group Inc., 5.00%, 12/15/27 (Call 12/15/22)^(b)		8,500		8,417,380
Netflix Inc.
4.38%, 11/15/26^(a)		18,231		17,536,034
4.88%, 04/15/28		29,831		29,061,921
5.38%, 02/01/21^(a)		9,508		9,828,895
5.50%, 02/15/22^(a)		13,184		13,810,240
5.75%, 03/01/24^(a)		7,687		8,124,599
5.88%, 02/15/25^(a)		15,331		16,261,240
5.88%, 11/15/28^(a)(b)		34,967		36,419,879
6.38%, 05/15/29^(a)(b)		14,591		15,524,428
Symantec Corp.
3.95%, 06/15/22 (Call 03/15/22)^(a)		8,474		8,433,837
4.20%, 09/15/20^(a)		15,446		15,615,597
5.00%, 04/15/25 (Call 04/15/20)^(a)(b)		21,851		21,769,059
VeriSign Inc.
4.63%, 05/01/23 (Call 04/01/19)		10,193		10,339,808
4.75%, 07/15/27 (Call 07/15/22)		11,063		10,956,980
5.25%, 04/01/25 (Call 01/01/25)^(a)		6,916		7,177,632
Zayo Group LLC/Zayo Capital Inc.
5.75%, 01/15/27 (Call 01/15/22)^(b)		29,894		29,015,864
6.00%, 04/01/23 (Call 04/01/19)^(a)		26,132		26,413,737
6.38%, 05/15/25 (Call 05/15/20)^(a)		17,512		17,380,660

				302,087,790

Iron & Steel — 0.8%
AK Steel Corp.
7.00%, 03/15/27 (Call 03/15/22)^(a)		6,902		5,814,935
7.63%, 10/01/21 (Call 04/01/19)		6,900		6,948,947


Security	Par (000)		Value

Iron & Steel (continued)
Allegheny Technologies Inc.
5.95%, 01/15/21 (Call 10/15/20)	$	9,602	$	9,845,551
7.88%, 08/15/23 (Call 05/15/23)^(a)		9,963		10,875,528
Cleveland-Cliffs Inc.
4.88%, 01/15/24 (Call 01/15/21)^(a)(b)		7,826		7,808,147
5.75%, 03/01/25 (Call 03/01/20)		20,876		20,404,115
Steel Dynamics Inc.
5.00%, 12/15/26 (Call 12/15/21)^(a)		8,048		8,200,576
5.13%, 10/01/21 (Call 04/01/19)^(a)		13,265		13,356,197
5.25%, 04/15/23 (Call 04/01/19)		8,041		8,182,974
5.50%, 10/01/24 (Call 10/01/19)^(a)		8,943		9,188,933
U.S. Steel Corp.
6.25%, 03/15/26 (Call 03/15/21)		12,248		11,620,290
6.88%, 08/15/25 (Call 08/15/20)^(a)		14,553		14,379,173

				126,625,366

Leisure Time — 0.3%
Sabre GLBL Inc.
5.25%, 11/15/23 (Call 04/01/19)^(b)		9,692		9,939,492
5.38%, 04/15/23 (Call 04/01/19)^(a)(b)		10,724		10,960,077
Viking Cruises Ltd., 5.88%, 09/15/27 (Call 09/15/22)^(b)		15,544		14,974,053
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 02/15/23)^(a)(b)		12,170		11,875,530

				47,749,152

Lodging — 2.4%
Boyd Gaming Corp.
6.00%, 08/15/26 (Call 08/15/21)^(a)		13,625		14,008,203
6.38%, 04/01/26 (Call 04/01/21)^(a)		14,747		15,379,114
6.88%, 05/15/23 (Call 03/18/19)^(a)		15,618		16,320,810
Diamond Resorts International Inc.
7.75%, 09/01/23 (Call 09/01/19)^(a)(b)		9,932		9,981,660
10.75%, 09/01/24 (Call 09/01/19)^(a)(b)		11,251		10,716,577
Hilton Domestic Operating Co. Inc.
4.25%, 09/01/24 (Call 09/01/19)^(a)		19,329		19,031,817
5.13%, 05/01/26 (Call 05/01/21)^(a)(b)		27,933		28,087,213
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
4.63%, 04/01/25 (Call 04/01/20)^(a)		16,083		16,013,195
4.88%, 04/01/27 (Call 04/01/22)^(a)		11,973		11,898,584
Jack Ohio Finance LLC/Jack Ohio Finance 1 Corp., 6.75%, 11/15/21 (Call 04/01/19)^(a)(b)		14,846		15,298,803
MGM Resorts International
4.63%, 09/01/26 (Call 06/01/26)		8,439		8,017,050
5.25%, 03/31/20^(a)		4,865		4,946,083
5.75%, 06/15/25 (Call 03/15/25)^(a)		18,920		19,289,801
6.00%, 03/15/23^(a)		23,231		24,305,434
6.63%, 12/15/21^(a)		23,600		25,135,919
6.75%, 10/01/20^(a)		18,580		19,424,545
7.75%, 03/15/22		19,528		21,431,980
Wyndham Destinations Inc.
3.90%, 03/01/23 (Call 12/01/22)		5,878		5,718,526
4.25%, 03/01/22 (Call 12/01/21)		12,434		12,425,970
5.75%, 04/01/27 (Call 01/01/27)		7,144		7,074,346
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
4.25%, 05/30/23 (Call 02/28/23)^(b)		10,056		9,945,803
5.25%, 05/15/27 (Call 02/15/27)^(b)		17,439		16,725,091
5.50%, 03/01/25 (Call 12/01/24)^(b)		31,995		31,844,623

				363,021,147

Machinery — 0.1%
Vertiv Group Corp., 9.25%, 10/15/24 (Call 10/15/19)^(a)(b)		13,219		13,219,000


Security	Par (000)		Value

Media — 11.9%
Altice Financing SA
6.63%, 02/15/23 (Call 04/01/19)^(a)(b)	$	36,695	$	37,584,612
7.50%, 05/15/26 (Call 05/15/21)^(b)		50,641		48,995,167
Altice Finco SA, 8.13%, 01/15/24 (Call 04/01/19)^(b)		6,726		6,795,171
Altice France SA/France
6.25%, 05/15/24 (Call 05/15/19)^(a)(b)		24,923		24,923,000
7.38%, 05/01/26 (Call 05/01/21)^(a)(b)		93,903		92,142,319
8.13%, 02/01/27 (Call 02/01/22)^(b)		31,698		31,825,359
Altice Luxembourg SA
7.63%, 02/15/25 (Call 02/15/20)^(a)(b)		26,962		23,895,073
7.75%, 05/15/22 (Call 04/01/19)^(a)(b)		51,437		51,115,519
AMC Networks Inc.
4.75%, 12/15/22 (Call 04/01/19)^(a)		12,231		12,377,772
4.75%, 08/01/25 (Call 08/01/21)^(a)		14,871		14,410,928
5.00%, 04/01/24 (Call 04/01/20)^(a)		19,445		19,303,347
Cablevision Systems Corp.
5.88%, 09/15/22^(a)		13,848		14,311,043
8.00%, 04/15/20^(a)		5,381		5,622,024
CCO Holdings LLC/CCO Holdings Capital Corp.
4.00%, 03/01/23 (Call 11/01/19)^(a)(b)		8,825		8,714,688
5.00%, 02/01/28 (Call 08/01/22)^(a)(b)		45,987		44,291,229
5.13%, 02/15/23 (Call 04/01/19)^(a)		13,048		13,260,030
5.13%, 05/01/23 (Call 04/01/19)^(a)(b)		19,397		19,738,387
5.13%, 05/01/27 (Call 05/01/22)^(a)(b)		59,446		58,579,277
5.25%, 03/15/21 (Call 04/01/19)^(a)		5,906		5,932,531
5.25%, 09/30/22 (Call 04/01/19)^(a)		20,754		21,141,517
5.38%, 05/01/25 (Call 05/01/20)^(a)(b)		13,301		13,633,525
5.50%, 05/01/26 (Call 05/01/21)^(a)(b)		26,651		27,206,218
5.75%, 09/01/23 (Call 04/01/19)^(a)		8,148		8,311,979
5.75%, 01/15/24 (Call 04/01/19)		14,631		15,017,921
5.75%, 02/15/26 (Call 02/15/21)^(a)(b)		44,110		45,516,006
5.88%, 04/01/24 (Call 04/01/19)^(a)(b)		26,466		27,584,189
5.88%, 05/01/27 (Call 05/01/21)^(a)(b)		13,815		14,190,595
Clear Channel Worldwide Holdings Inc.
9.25%, 02/15/24 (Call 02/15/21)^(a)(b)		18,770		19,695,932
6.50%, 11/15/22 (Call 04/01/19)^(a)		36,360		37,231,935
Series B, 7.63%, 03/15/20 (Call 03/06/19)^(a)		22,811		22,839,514
CSC Holdings LLC
5.13%, 12/15/21 (Call 03/11/19)^(b)		20,312		20,375,780
5.25%, 06/01/24		13,532		13,451,269
5.38%, 07/15/23 (Call 03/11/19)^(a)(b)		20,800		21,315,451
5.38%, 02/01/28 (Call 02/01/23)^(a)(b)		17,315		17,023,642
5.50%, 05/15/26 (Call 05/15/21)^(a)(b)		26,037		26,320,618
5.50%, 04/15/27 (Call 04/15/22)^(a)(b)		23,434		23,568,258
6.50%, 02/01/29 (Call 02/01/24)^(a)(b)		25,966		27,167,187
6.63%, 10/15/25 (Call 10/15/20)^(a)(b)		18,049		19,127,357
6.75%, 11/15/21^(a)		18,991		20,240,676
7.50%, 04/01/28 (Call 04/01/23)^(b)		19,803		20,947,419
7.75%, 07/15/25 (Call 07/15/20)^(a)(b)		10,422		11,130,370
10.88%, 10/15/25 (Call 10/15/20)^(b)		30,892		35,834,720
DISH DBS Corp.
5.00%, 03/15/23^(a)		27,485		24,332,814
5.13%, 05/01/20^(a)		15,128		15,254,531
5.88%, 07/15/22^(a)		36,765		35,110,575
5.88%, 11/15/24^(a)		36,307		30,577,755
6.75%, 06/01/21^(a)		36,497		37,318,182
7.75%, 07/01/26^(a)		37,568		32,590,240
Gray Television Inc.
5.13%, 10/15/24 (Call 10/15/19)^(a)(b)		9,379		9,350,863
5.88%, 07/15/26 (Call 07/15/21)^(a)(b)		14,131		14,296,598


Security	Par (000)		Value

Media (continued)
7.00%, 05/15/27 (Call 05/15/22)^(b)	$	13,496	$	14,272,020
Meredith Corp., 6.88%, 02/01/26		25,640		26,480,992
Nexstar Broadcasting Inc.
5.63%, 08/01/24 (Call 08/01/19)^(a)(b)		17,220		17,090,850
5.88%, 11/15/22 (Call 03/11/19)		8,871		9,084,458
Quebecor Media Inc., 5.75%, 01/15/23^(a)		16,383		17,012,722
Sinclair Television Group Inc.
5.13%, 02/15/27 (Call 08/15/21)^(b)		7,727		7,244,063
5.38%, 04/01/21 (Call 03/18/19)^(a)		9,417		9,428,771
5.63%, 08/01/24 (Call 08/01/19)^(a)(b)		10,254		10,343,723
6.13%, 10/01/22 (Call 03/18/19)^(a)		10,126		10,350,797
Sirius XM Radio Inc.
3.88%, 08/01/22 (Call 08/01/20)^(a)(b)		18,890		18,819,163
4.63%, 05/15/23 (Call 04/01/19)^(a)(b)		9,736		9,857,700
5.00%, 08/01/27 (Call 08/01/22)^(a)(b)		28,484		27,794,451
5.38%, 04/15/25 (Call 04/15/20)^(b)		19,464		19,854,901
5.38%, 07/15/26 (Call 07/15/21)^(a)(b)		17,865		17,931,994
6.00%, 07/15/24 (Call 07/15/19)^(a)(b)		28,676		29,760,311
TEGNA Inc.
5.13%, 07/15/20 (Call 04/01/19)^(a)		6,953		7,028,117
6.38%, 10/15/23 (Call 04/01/19)^(a)		13,757		14,204,103
Telenet Finance Luxembourg Notes SARL, 5.50%, 03/01/28 (Call 12/01/22)^(b)		14,800		14,274,600
Tribune Media Co., 5.88%, 07/15/22 (Call 03/11/19)^(a)		22,820		23,257,635
Unitymedia GmbH, 6.13%, 01/15/25 (Call 01/15/20)^(a)(b)		15,879		16,456,202
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 5.00%, 01/15/25 (Call 01/15/20)^(a)(b)		9,006		9,239,893
Univision Communications Inc.
5.13%, 05/15/23 (Call 04/01/19)^(a)(b)		21,867		19,926,304
5.13%, 02/15/25 (Call 02/15/20)^(a)(b)		28,068		24,624,407
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)^(b)		11,525		11,705,021
UPCB Finance IV Ltd., 5.38%, 01/15/25 (Call 01/15/20)^(a)(b)		20,005		20,455,113
Viacom Inc.
5.88%, 02/28/57 (Call 02/28/22)^(a)(c)(d)		12,719		12,568,955
6.25%, 02/28/57 (Call 02/28/27)^(c)(d)		11,772		11,631,030
Videotron Ltd.
5.00%, 07/15/22^(a)		15,207		15,636,843
5.13%, 04/15/27 (Call 04/15/22)^(a)(b)		11,960		12,195,047
5.38%, 06/15/24 (Call 03/15/24)^(a)(b)		11,253		11,682,302
Virgin Media Finance PLC
5.75%, 01/15/25 (Call 01/15/20)^(a)(b)		5,991		5,961,045
6.00%, 10/15/24 (Call 10/15/19)^(a)(b)		8,325		8,582,034
Virgin Media Secured Finance PLC
5.25%, 01/15/21^(a)		7,732		7,835,093
5.25%, 01/15/26 (Call 01/15/20)^(a)(b)		16,267		16,289,367
5.50%, 01/15/25 (Call 03/15/19)^(a)(b)		6,890		6,999,080
5.50%, 08/15/26 (Call 08/15/21)^(a)(b)		13,578		13,667,106
Ziggo Bond Co. BV
5.88%, 01/15/25 (Call 01/15/20)^(a)(b)		6,245		6,062,958
6.00%, 01/15/27 (Call 01/15/22)^(a)(b)		11,304		10,684,635
Ziggo BV, 5.50%, 01/15/27 (Call 01/15/22)^(a)(b)		37,013		35,717,545

				1,823,532,463

Metal Fabricate & Hardware — 0.3%
Novelis Corp.
5.88%, 09/30/26 (Call 09/30/21)^(a)(b)		27,671		26,910,048
6.25%, 08/15/24 (Call 08/15/19)^(a)(b)		21,564		21,744,262

				48,654,310


Security	Par (000)		Value

Mining — 1.5%
Alcoa Nederland Holding BV
6.13%, 05/15/28 (Call 05/15/23)^(a)(b)	$	8,800	$	8,992,544
6.75%, 09/30/24 (Call 09/30/19)^(a)(b)		13,782		14,601,300
7.00%, 09/30/26 (Call 09/30/21)^(a)(b)		8,020		8,621,688
Constellium NV
5.75%, 05/15/24 (Call 05/15/19)^(a)(b)		7,103		6,966,977
5.88%, 02/15/26 (Call 11/15/20)^(a)(b)		8,892		8,655,210
6.63%, 03/01/25 (Call 03/01/20)^(a)(b)		12,924		13,029,007
FMG Resources August 2006 Pty Ltd.
4.75%, 05/15/22 (Call 02/15/22)^(a)(b)		15,425		15,427,931
5.13%, 03/15/23 (Call 12/15/22)^(b)		9,922		9,900,296
5.13%, 05/15/24 (Call 02/15/24)^(a)(b)		13,845		13,730,347
Freeport-McMoRan Inc.
3.10%, 03/15/20		9,805		9,816,276
3.55%, 03/01/22 (Call 12/01/21)^(a)		35,540		35,140,175
3.88%, 03/15/23 (Call 12/15/22)^(a)		35,396		34,882,050
4.00%, 11/14/21		11,609		11,609,605
4.55%, 11/14/24 (Call 08/14/24)		17,430		17,255,700
6.88%, 02/15/23 (Call 02/15/20)^(a)		13,376		14,124,917
Teck Resources Ltd., 8.50%, 06/01/24 (Call 06/01/19)^(b)		11,561		12,413,624

				235,167,647

Office & Business Equipment — 0.4%
CDW LLC/CDW Finance Corp.
5.00%, 09/01/23 (Call 04/01/19)^(a)		7,040		7,119,200
5.00%, 09/01/25 (Call 03/01/20)^(a)		11,282		11,400,584
5.50%, 12/01/24 (Call 06/01/24)^(a)		10,571		11,056,055
Pitney Bowes Inc.
3.88%, 10/01/21 (Call 09/01/21)		11,240		10,913,337
4.38%, 05/15/22 (Call 04/15/22)		7,972		7,596,652
4.63%, 03/15/24 (Call 12/15/23)^(a)		7,335		6,779,207
4.70%, 04/01/23 (Call 03/01/23)		7,737		7,311,465

				62,176,500

Oil & Gas — 9.4%
Antero Resources Corp.
5.00%, 03/01/25 (Call 03/01/20)^(a)		12,255		11,764,800
5.13%, 12/01/22 (Call 04/01/19)^(a)		20,731		20,750,566
5.38%, 11/01/21 (Call 04/01/19)^(a)		17,946		18,009,091
5.63%, 06/01/23 (Call 04/01/19)^(a)		13,441		13,474,602
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.00%, 11/01/26 (Call 11/01/21)^(b)		11,286		10,931,196
10.00%, 04/01/22 (Call 04/01/20)^(a)(b)		18,807		20,296,377
California Resources Corp., 8.00%, 12/15/22 (Call 04/01/19)^(a)(b)		40,236		31,967,502
Callon Petroleum Co.
6.13%, 10/01/24 (Call 10/01/19)^(a)		11,066		11,228,916
6.38%, 07/01/26 (Call 07/01/21)^(a)		7,548		7,602,691
Calumet Specialty Products Partners LP/Calumet Finance Corp., 6.50%, 04/15/21 (Call 04/01/19)^(a)		17,741		16,521,306
Chesapeake Energy Corp.
4.88%, 04/15/22 (Call 04/01/19)^(a)		7,621		7,382,844
6.13%, 02/15/21^(a)		8,143		8,311,204
6.63%, 08/15/20		4,038		4,147,783
7.00%, 10/01/24 (Call 04/01/21)^(a)		15,078		14,908,372
7.50%, 10/01/26 (Call 10/01/21)^(a)		7,425		7,313,625
8.00%, 01/15/25 (Call 01/15/20)^(a)		24,568		24,997,940
8.00%, 06/15/27 (Call 06/15/22)^(a)		24,513		24,267,870
Citgo Holding Inc., 10.75%, 02/15/20^(b)		9,369		9,636,895


Security	Par (000)		Value

Oil & Gas (continued)
CNX Resources Corp., 5.88%, 04/15/22 (Call 04/01/19)^(a)	$	23,988	$	24,182,902
Continental Resources Inc./OK
3.80%, 06/01/24 (Call 03/01/24)		19,646		19,410,769
4.38%, 01/15/28 (Call 10/15/27)^(a)		19,032		18,973,408
4.50%, 04/15/23 (Call 01/15/23)		28,726		29,338,519
5.00%, 09/15/22 (Call 04/01/19)^(a)		23,100		23,326,380
CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 10/15/20)^(a)(b)		22,645		21,909,037
Denbury Resources Inc.
7.50%, 02/15/24 (Call 08/15/20)^(b)		8,017		7,155,173
9.00%, 05/15/21 (Call 04/01/19)^(a)(b)		11,365		11,464,444
9.25%, 03/31/22 (Call 04/01/19)^(a)(b)		9,142		9,202,471
Diamond Offshore Drilling Inc., 7.88%, 08/15/25 (Call 05/15/25)		9,747		9,168,272
Diamondback Energy Inc.
4.75%, 11/01/24 (Call 11/01/19)		10,076		10,209,821
5.38%, 05/31/25 (Call 05/31/20)		15,388		15,926,580
Endeavor Energy Resources LP/EER Finance Inc.
5.50%, 01/30/26 (Call 01/30/21)^(b)		10,466		10,867,820
5.75%, 01/30/28 (Call 01/30/23)^(b)		10,102		10,770,626
Ensco PLC
4.50%, 10/01/24 (Call 07/01/24)^(a)		12,227		9,376,581
5.20%, 03/15/25 (Call 12/15/24)^(a)		12,980		10,046,520
7.75%, 02/01/26 (Call 11/01/25)		18,508		15,546,720
EP Energy LLC/Everest Acquisition Finance Inc.
7.75%, 05/15/26 (Call 05/15/21)^(a)(b)		19,823		17,543,355
8.00%, 11/29/24 (Call 11/30/19)^(a)(b)		12,230		8,673,746
8.00%, 02/15/25 (Call 02/15/20)^(a)(b)		11,755		5,201,588
9.38%, 05/01/24 (Call 05/01/20)^(b)		12,158		5,744,655
Extraction Oil & Gas Inc.
5.63%, 02/01/26 (Call 02/01/21)^(a)(b)		14,329		11,986,607
7.38%, 05/15/24 (Call 05/15/20)^(a)(b)		8,042		7,127,223
Gulfport Energy Corp.
6.00%, 10/15/24 (Call 10/15/19)^(a)		10,843		9,840,023
6.38%, 05/15/25 (Call 05/15/20)^(a)		13,169		11,870,276
6.38%, 01/15/26 (Call 01/15/21)		7,355		6,457,461
Hilcorp Energy I LP/Hilcorp Finance Co.
5.00%, 12/01/24 (Call 06/01/19)^(a)(b)		10,563		10,153,684
5.75%, 10/01/25 (Call 04/01/20)^(b)		8,558		8,487,575
6.25%, 11/01/28 (Call 11/01/23)^(a)(b)		10,493		10,323,426
Jones Energy Holdings LLC/Jones Energy Finance Corp.
6.75%, 04/01/22 (Call 04/01/19)		3,743		183,407
9.25%, 03/15/23 (Call 03/15/20)^(a)(b)		6,189		3,996,740
Matador Resources Co., 5.88%, 09/15/26 (Call 09/15/21)^(a)		20,641		20,589,397
MEG Energy Corp.
6.38%, 01/30/23 (Call 04/01/19)^(b)		14,898		13,646,568
6.50%, 01/15/25 (Call 01/15/20)^(b)		14,848		14,676,706
7.00%, 03/31/24 (Call 04/01/19)^(a)(b)		18,131		16,589,865
Murphy Oil Corp.
4.00%, 06/01/22 (Call 03/01/22)		8,428		8,344,159
4.45%, 12/01/22 (Call 09/01/22)		11,809		11,701,981
5.75%, 08/15/25 (Call 08/15/20)^(a)		10,202		10,377,347
6.88%, 08/15/24 (Call 08/15/19)^(a)		9,180		9,670,556
Nabors Industries Inc.
4.63%, 09/15/21		13,519		13,233,834
5.00%, 09/15/20^(a)		12,756		12,821,927


Security	Par (000)		Value

Oil & Gas (continued)
5.50%, 01/15/23 (Call 11/15/22)^(a)	$	11,258	$	10,587,933
5.75%, 02/01/25 (Call 11/01/24)		14,647		12,962,595
Newfield Exploration Co.
5.38%, 01/01/26 (Call 10/01/25)^(a)		9,800		10,339,000
5.63%, 07/01/24^(a)		9,226		9,859,230
5.75%, 01/30/22		13,859		14,586,597
Noble Holding International Ltd.
7.75%, 01/15/24 (Call 10/15/23)^(a)		15,210		13,696,130
7.88%, 02/01/26 (Call 02/01/21)^(b)		14,458		13,518,230
7.95%, 04/01/25 (Call 01/01/25)^(a)		9,162		8,057,979
Oasis Petroleum Inc.
6.25%, 05/01/26 (Call 05/01/21)^(a)(b)		8,265		7,856,916
6.88%, 03/15/22 (Call 04/01/19)		17,455		17,477,910
Pacific Drilling SA, 8.38%, 10/01/23 (Call 10/01/20)^(b)		14,946		15,026,067
Parsley Energy LLC/Parsley Finance Corp.
5.25%, 08/15/25 (Call 08/15/20)^(b)		6,425		6,354,987
5.38%, 01/15/25 (Call 01/15/20)^(a)(b)		10,900		10,818,250
5.63%, 10/15/27 (Call 10/15/22)^(a)(b)		12,142		11,990,225
6.25%, 06/01/24 (Call 06/01/19)^(b)		8,350		8,578,538
PBF Holding Co. LLC/PBF Finance Corp.
7.00%, 11/15/23 (Call 04/01/19)		9,388		9,631,958
7.25%, 06/15/25 (Call 06/15/20)^(a)		14,471		14,801,573
PDC Energy Inc.
5.75%, 05/15/26 (Call 05/15/21)^(a)		10,380		10,007,896
6.13%, 09/15/24 (Call 09/15/19)^(a)		7,542		7,473,314
Precision Drilling Corp., 7.13%, 01/15/26 (Call 11/15/20)^(b)		6,841		6,726,841
Puma International Financing SA
5.00%, 01/24/26 (Call 01/24/21)^(b)		10,802		9,221,308
5.13%, 10/06/24 (Call 10/06/20)^(b)		9,769		8,660,219
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)		12,485		12,048,025
5.38%, 10/01/22 (Call 07/01/22)^(a)		8,428		8,317,235
5.63%, 03/01/26 (Call 12/01/25)^(a)		8,736		8,209,452
Range Resources Corp.
4.88%, 05/15/25 (Call 02/15/25)^(a)		13,267		12,172,473
5.00%, 08/15/22 (Call 05/15/22)^(a)		10,268		10,126,815
5.00%, 03/15/23 (Call 12/15/22)^(a)		14,107		13,592,683
5.75%, 06/01/21 (Call 03/01/21)^(a)		8,371		8,503,977
Rowan Companies Inc.
4.88%, 06/01/22 (Call 03/01/22)		12,331		11,460,123
7.38%, 06/15/25 (Call 03/15/25)^(a)		9,722		8,469,533
Sable Permian Resources Land LLC/AEPB Finance Corp.
7.13%, 11/01/20 (Call 04/01/19)^(a)(b)		6,625		2,282,076
7.38%, 11/01/21 (Call 04/01/19)^(a)(b)		5,555		1,890,436
13.00%, 11/30/20 (Call 04/01/19)^(b)		8,867		9,133,934
Sanchez Energy Corp.
6.13%, 01/15/23 (Call 04/01/19)		13,269		1,957,178
7.25%, 02/15/23 (Call 02/15/20)^(a)(b)		6,913		5,971,104
7.75%, 06/15/21 (Call 04/01/19)^(a)		5,596		909,350
Seven Generations Energy Ltd.
5.38%, 09/30/25 (Call 09/30/20)^(a)(b)		13,623		13,210,904
6.75%, 05/01/23 (Call 04/01/19)^(b)		6,957		7,129,838
6.88%, 06/30/23 (Call 04/01/19)^(a)(b)		7,837		8,028,376
SM Energy Co.
5.00%, 01/15/24 (Call 04/01/19)^(a)		10,473		9,857,711
5.63%, 06/01/25 (Call 06/01/20)^(a)		9,532		8,945,186
6.13%, 11/15/22 (Call 04/01/19)		8,555		8,555,000


Security	Par (000)		Value

Oil & Gas (continued)
6.63%, 01/15/27 (Call 01/15/22)^(a)	$	8,700	$	8,308,500
6.75%, 09/15/26 (Call 09/15/21)^(a)		9,102		8,737,920
Southwestern Energy Co.
6.20%, 01/23/25 (Call 10/23/24)^(a)		18,189		18,001,653
7.50%, 04/01/26 (Call 04/01/21)		10,286		10,683,573
7.75%, 10/01/27 (Call 10/01/22)^(a)		8,937		9,283,541
Sunoco LP/Sunoco Finance Corp.
4.88%, 01/15/23 (Call 01/15/20)		19,696		19,962,455
5.50%, 02/15/26 (Call 02/15/21)		14,530		14,444,232
Series WI, 5.88%, 03/15/28 (Call 03/15/23)^(a)		6,032		5,941,520
Transocean Guardian Ltd., 5.88%, 01/15/24 (Call 07/15/21)^(b)		10,654		10,813,739
Transocean Inc.
7.25%, 11/01/25 (Call 11/01/21)^(b)		15,944		15,212,284
7.50%, 01/15/26 (Call 01/15/21)^(a)(b)		14,112		13,617,198
9.00%, 07/15/23 (Call 07/15/20)^(b)		19,998		21,121,548
Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/21)^(b)		9,035		9,131,143
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 02/01/22)^(a)(b)		10,023		10,298,633
Whiting Petroleum Corp.
5.75%, 03/15/21 (Call 12/15/20)^(a)		17,433		17,650,912
6.25%, 04/01/23 (Call 01/01/23)^(a)		7,839		7,871,118
6.63%, 01/15/26 (Call 10/15/25)^(a)		19,181		18,797,380
WPX Energy Inc.
5.25%, 09/15/24 (Call 06/15/24)		10,610		10,619,517
5.75%, 06/01/26 (Call 06/01/21)		9,693		9,761,045
6.00%, 01/15/22 (Call 10/15/21)		10,028		10,353,910
8.25%, 08/01/23 (Call 06/01/23)		8,883		9,964,690

				1,439,213,345

Oil & Gas Services — 0.6%
KCA Deutag UK Finance PLC
9.63%, 04/01/23 (Call 04/01/20)^(b)		6,043		4,590,372
9.88%, 04/01/22 (Call 04/01/20)^(a)(b)		7,611		6,079,551
SESI LLC
7.13%, 12/15/21 (Call 04/01/19)		16,034		14,843,618
7.75%, 09/15/24 (Call 09/15/20)^(a)		8,484		7,248,849
Transocean Phoenix 2 Ltd., 7.75%, 10/15/24 (Call 10/15/20)^(a)(b)		7,495		7,891,626
Transocean Proteus Ltd., 6.25%, 12/01/24 (Call 12/01/20)^(a)(b)		7,352		7,519,143
USA Compression Partners LP/USA Compression Finance Corp., 6.88%, 09/01/27 (Call 09/01/22)^(b)		5,510		5,620,200
Weatherford International LLC, 9.88%, 03/01/25 (Call 12/01/24)^(a)		9,920		7,068,000
Weatherford International Ltd.
4.50%, 04/15/22 (Call 01/15/22)^(a)		12,608		8,668,000
7.75%, 06/15/21 (Call 05/15/21)^(a)		12,896		11,531,174
8.25%, 06/15/23 (Call 03/15/23)^(a)		11,678		8,320,575
9.88%, 02/15/24 (Call 11/15/23)^(a)		14,174		10,205,280

				99,586,388

Packaging & Containers — 3.1%
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc.
4.25%, 09/15/22 (Call 03/15/19)^(a)(b)		11,270		11,249,714
4.63%, 05/15/23 (Call 05/15/19)^(a)(b)		19,796		19,951,707
6.00%, 02/15/25 (Call 02/15/20)^(a)(b)		31,361		30,870,407
7.25%, 05/15/24 (Call 05/15/19)^(a)(b)		31,257		32,536,974


Security	Par (000)		Value

Packaging & Containers (continued)
Ball Corp.
4.00%, 11/15/23^(a)	$	18,934	$	18,991,478
4.38%, 12/15/20^(a)		14,892		15,171,225
4.88%, 03/15/26 (Call 12/15/25)^(a)		13,512		13,782,240
5.00%, 03/15/22		13,485		14,024,400
5.25%, 07/01/25		19,142		20,063,209
Berry Global Inc.
4.50%, 02/15/26 (Call 02/15/21)^(a)(b)		9,034		8,548,423
5.13%, 07/15/23 (Call 04/01/19)^(a)		13,830		13,881,863
5.50%, 05/15/22 (Call 04/01/19)^(a)		9,234		9,374,433
6.00%, 10/15/22 (Call 04/01/19)		6,756		6,940,735
BWAY Holding Co.
5.50%, 04/15/24 (Call 04/15/20)^(a)(b)		28,432		28,032,530
7.25%, 04/15/25 (Call 04/15/20)^(a)(b)		23,888		22,634,890
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50%, 01/15/23^(a)		19,259		19,505,515
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)^(a)		7,409		7,121,011
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 02/01/21)^(a)		16,800		16,842,000
Flex Acquisition Co. Inc.
6.88%, 01/15/25 (Call 01/15/20)^(a)(b)		9,553		9,004,556
7.88%, 07/15/26 (Call 07/15/21)^(b)		10,103		9,689,058
Owens-Brockway Glass Container Inc.
5.00%, 01/15/22^(a)(b)		7,743		7,897,376
5.88%, 08/15/23^(b)		12,331		12,959,634
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.13%, 07/15/23 (Call 07/15/19)^(a)(b)		30,719		30,719,000
5.75%, 10/15/20 (Call 04/01/19)		40,535		40,636,206
7.00%, 07/15/24 (Call 07/15/19)^(a)(b)		15,630		15,981,675
Sealed Air Corp.
4.88%, 12/01/22 (Call 09/01/22)^(a)(b)		7,080		7,223,472
5.13%, 12/01/24 (Call 09/01/24)^(a)(b)		8,297		8,532,946
5.25%, 04/01/23 (Call 01/01/23)^(a)(b)		8,296		8,566,160
5.50%, 09/15/25 (Call 06/15/25)^(a)(b)		6,797		7,086,838
6.50%, 12/01/20 (Call 09/01/20)^(a)(b)		5,539		5,785,010

				473,604,685

Pharmaceuticals — 4.0%
Bausch Health Americas Inc.
8.50%, 01/31/27 (Call 07/31/22)^(b)		17,556		18,214,350
9.25%, 04/01/26 (Call 04/01/22)^(a)(b)		28,048		30,193,119
Bausch Health Companies Inc.
5.50%, 03/01/23 (Call 04/01/19)^(b)		16,881		16,838,798
5.50%, 11/01/25 (Call 11/01/20)^(a)(b)		28,374		28,605,129
5.63%, 12/01/21 (Call 04/01/19)^(b)		12,264		12,282,396
5.75%, 08/15/27 (Call 08/15/22)^(b)		1,425		1,437,469
5.88%, 05/15/23 (Call 04/01/19)^(a)(b)		56,751		56,609,122
6.13%, 04/15/25 (Call 04/15/20)^(a)(b)		56,866		54,662,442
6.50%, 03/15/22 (Call 04/01/19)^(a)(b)		21,305		22,077,306
7.00%, 03/15/24 (Call 03/15/20)^(a)(b)		37,135		39,139,176
9.00%, 12/15/25 (Call 12/15/21)^(a)(b)		26,938		28,857,332
Elanco Animal Health Inc.
3.91%, 08/27/21^(b)		7,997		8,052,708
4.27%, 08/28/23 (Call 07/28/23)^(b)		14,384		14,634,086
4.90%, 08/28/28 (Call 05/28/28)^(a)(b)		14,199		14,728,891
Endo Dac/Endo Finance LLC/Endo Finco Inc.
6.00%, 07/15/23 (Call 04/01/19)^(b)		29,875		24,623,537
6.00%, 02/01/25 (Call 02/01/20)^(a)(b)		20,120		15,537,111


Security	Par (000)		Value

Pharmaceuticals (continued)
Endo Finance LLC, 5.75%, 01/15/22 (Call 04/01/19)^(a)(b)	$	13,339	$	12,471,965
Endo Finance LLC/Endo Finco Inc., 5.38%, 01/15/23 (Call 04/01/19)^(a)(b)		15,107		12,406,624
Teva Pharmaceutical Finance Netherlands III BV
2.20%, 07/21/21^(a)		55,059		52,260,103
2.80%, 07/21/23^(a)		55,121		49,927,643
3.15%, 10/01/26^(a)		64,921		53,965,581
6.00%, 04/15/24 (Call 01/15/24)^(a)		23,083		23,441,941
6.75%, 03/01/28 (Call 12/01/27)^(a)		22,192		22,805,487

				613,772,316

Pipelines — 3.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.38%, 09/15/24 (Call 09/15/19)		3,100		3,100,000
5.75%, 03/01/27 (Call 03/01/22)^(b)		11,795		11,883,462
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.13%, 11/15/22 (Call 04/01/19)^(a)(b)		17,364		17,639,964
Buckeye Partners LP, 6.38%, 01/22/78 (Call 01/22/23)^(a)(c)(d)		7,271		6,324,760
Cheniere Corpus Christi Holdings LLC
5.13%, 06/30/27 (Call 01/01/27)^(a)		27,265		27,810,300
5.88%, 03/31/25 (Call 10/02/24)^(a)		27,411		29,158,479
7.00%, 06/30/24 (Call 01/01/24)^(a)		23,976		26,630,098
Cheniere Energy Partners LP
5.25%, 10/01/25 (Call 10/01/20)^(a)		26,498		26,849,666
5.63%, 10/01/26 (Call 10/01/21)^(b)		21,101		21,496,644
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
5.75%, 04/01/25 (Call 04/01/20)^(a)		7,888		7,939,765
6.25%, 04/01/23 (Call 03/18/19)^(a)		11,811		12,125,960
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)		11,143		11,083,803
4.75%, 09/30/21 (Call 06/30/21)^(a)(b)		9,640		9,836,415
5.35%, 03/15/20^(a)(b)		5,701		5,813,924
5.38%, 07/15/25 (Call 04/15/25)^(a)		15,725		16,354,000
5.85%, 05/21/43 (Call 05/21/23)^(b)(c)(d)		7,983		7,137,999
Energy Transfer LP
4.25%, 03/15/23 (Call 12/15/22)^(a)		18,432		18,670,680
5.50%, 06/01/27 (Call 03/01/27)		19,702		20,656,371
5.88%, 01/15/24 (Call 10/15/23)^(a)		23,503		25,242,504
7.50%, 10/15/20		19,139		20,335,187
EnLink Midstream Partners LP
4.15%, 06/01/25 (Call 03/01/25)		13,433		12,829,915
4.40%, 04/01/24 (Call 01/01/24)^(a)		10,167		9,911,237
4.85%, 07/15/26 (Call 04/15/26)		5,700		5,586,000
Genesis Energy LP/Genesis Energy Finance Corp.
6.00%, 05/15/23 (Call 04/01/19)		6,934		6,908,215
6.25%, 05/15/26 (Call 02/15/21)^(a)		8,181		7,591,895
6.50%, 10/01/25 (Call 10/01/20)		9,631		9,235,829
6.75%, 08/01/22 (Call 04/01/19)		15,115		15,429,109
NGPL PipeCo LLC
4.38%, 08/15/22 (Call 05/15/22)^(a)(b)		13,360		13,534,849
4.88%, 08/15/27 (Call 02/15/27)^(a)(b)		13,089		13,199,438
NuStar Logistics LP
4.80%, 09/01/20		8,086		8,204,298
5.63%, 04/28/27 (Call 01/28/27)^(a)		11,061		11,135,662
Rockies Express Pipeline LLC, 5.63%, 04/15/20^(a)(b)		447		455,940
SemGroup Corp./Rose Rock Finance Corp., 5.63%, 07/15/22 (Call 03/18/19)^(a)		7,148		6,958,450


Security	Par (000)		Value

Pipelines (continued)
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
4.75%, 10/01/23 (Call 10/01/20)^(b)	$	10,615	$	10,633,245
5.50%, 09/15/24 (Call 09/15/19)^(a)(b)		14,975		15,316,430
5.50%, 01/15/28 (Call 01/15/23)^(b)		14,710		14,673,225
Targa Resources Partners LP/Targa Resources
Partners Finance Corp.
4.25%, 11/15/23 (Call 04/01/19)		11,069		10,932,368
5.00%, 01/15/28 (Call 01/15/23)		14,502		14,048,812
5.13%, 02/01/25 (Call 02/01/20)^(a)		9,643		9,770,386
5.25%, 05/01/23 (Call 04/01/19)		10,339		10,468,134
5.38%, 02/01/27 (Call 02/01/22)^(a)		9,195		9,264,054
5.88%, 04/15/26 (Call 04/15/21)^(a)(b)		18,635		19,409,843
6.50%, 07/15/27 (Call 07/15/22)^(b)		12,359		13,068,355
6.75%, 03/15/24 (Call 09/15/19)^(a)		11,529		12,077,895
6.88%, 01/15/29 (Call 01/15/24)^(b)		14,099		15,050,682

				601,784,247

Real Estate — 0.4%
Howard Hughes Corp. (The), 5.38%, 03/15/25 (Call 03/15/20)^(a)(b)		19,980		19,730,250
Kennedy-Wilson Inc., 5.88%, 04/01/24 (Call 04/01/19)^(a)		22,722		22,293,595
Realogy Group LLC/Realogy Co-Issuer Corp.
4.88%, 06/01/23 (Call 03/01/23)^(a)(b)		10,118		9,156,790
5.25%, 12/01/21 (Call 04/01/19)^(a)(b)		9,256		9,271,427

				60,452,062

Real Estate Investment Trusts — 2.9%
CBL & Associates LP
5.25%, 12/01/23 (Call 09/01/23)^(a)		7,908		6,589,451
5.95%, 12/15/26 (Call 09/15/26)^(a)		12,744		9,685,440
CyrusOne LP/CyrusOne Finance Corp.
5.00%, 03/15/24 (Call 03/15/20)^(a)		13,764		13,981,214
5.38%, 03/15/27 (Call 03/15/22)^(a)		10,340		10,524,181
Equinix Inc.
5.38%, 01/01/22 (Call 04/01/19)^(a)		12,853		13,198,424
5.38%, 04/01/23 (Call 04/01/19)^(a)		17,264		17,587,700
5.38%, 05/15/27 (Call 05/15/22)^(a)		24,316		25,136,665
5.75%, 01/01/25 (Call 01/01/20)^(a)		9,876		10,283,385
5.88%, 01/15/26 (Call 01/15/21)^(a)		21,221		22,228,997
ESH Hospitality Inc., 5.25%, 05/01/25 (Call 05/01/20)^(a)(b)		25,616		25,543,955
Iron Mountain Inc.
4.38%, 06/01/21 (Call 03/11/19)^(a)(b)		7,085		7,097,915
4.88%, 09/15/27 (Call 09/15/22)^(a)(b)		20,087		18,982,215
5.25%, 03/15/28 (Call 12/27/22)^(a)(b)		15,291		14,679,360
5.75%, 08/15/24 (Call 03/11/19)^(a)		17,786		17,824,907
6.00%, 08/15/23 (Call 03/11/19)^(a)		10,687		10,991,426
iStar Inc.
4.63%, 09/15/20 (Call 06/15/20)^(a)		8,531		8,568,915
5.25%, 09/15/22 (Call 09/15/19)^(a)		7,903		7,744,940
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc.
4.50%, 09/01/26 (Call 06/01/26)^(a)		10,618		10,180,809
5.63%, 05/01/24 (Call 02/01/24)^(a)		19,771		20,425,914
5.75%, 02/01/27 (Call 11/01/26)^(a)(b)		13,102		13,396,795
MPT Operating Partnership LP/MPT Finance Corp.
5.00%, 10/15/27 (Call 10/15/22)		27,756		27,640,349
5.25%, 08/01/26 (Call 08/01/21)^(a)		8,688		8,819,872
6.38%, 03/01/24 (Call 04/01/19)^(a)		7,429		7,803,840


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
SBA Communications Corp.
4.00%, 10/01/22 (Call 10/01/19)^(a)	$	14,972	$	14,866,054
4.88%, 07/15/22 (Call 04/01/19)^(a)		14,859		15,058,152
4.88%, 09/01/24 (Call 09/01/19)^(a)		21,791		21,763,761
Starwood Property Trust Inc.
3.63%, 02/01/21 (Call 11/01/20)^(a)		9,423		9,349,972
4.75%, 03/15/25 (Call 09/15/24)^(a)		8,988		8,723,978
5.00%, 12/15/21 (Call 09/15/21)^(a)		14,130		14,426,730
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 7.13%, 12/15/24 (Call 12/15/19)^(a)(b)		9,938		8,248,540
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC
6.00%, 04/15/23 (Call 04/01/19)^(a)(b)		10,644		9,898,920
8.25%, 10/15/23 (Call 04/15/19)		19,493		16,910,178

				448,162,954

Retail — 3.0%
1011778 BC ULC/New Red Finance Inc.
4.25%, 05/15/24 (Call 05/15/20)^(a)(b)		27,273		26,586,061
4.63%, 01/15/22 (Call 04/01/19)^(a)(b)		23,145		23,257,948
5.00%, 10/15/25 (Call 10/15/20)^(a)(b)		51,130		49,466,179
Beacon Roofing Supply Inc., 4.88%, 11/01/25 (Call 11/01/20)^(a)(b)		25,597		23,893,200
Ferrellgas LP/Ferrellgas Finance Corp.
6.50%, 05/01/21 (Call 04/01/19)^(a)		6,262		5,613,296
6.75%, 01/15/22 (Call 04/01/19)^(a)		8,161		7,273,491
6.75%, 06/15/23 (Call 06/15/19)^(a)		9,058		8,106,910
Golden Nugget Inc.
6.75%, 10/15/24 (Call 10/15/19)^(a)(b)		25,962		26,128,006
8.75%, 10/01/25 (Call 10/01/20)^(b)		12,294		12,694,379
JC Penney Corp. Inc.
5.88%, 07/01/23 (Call 07/01/19)^(a)(b)		9,269		7,924,995
8.63%, 03/15/25 (Call 03/15/21)^(b)		6,116		3,654,310
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of
America LLC
4.75%, 06/01/27 (Call 06/01/22)^(a)(b)		13,757		13,503,355
5.00%, 06/01/24 (Call 06/01/19)^(a)(b)		19,956		20,165,538
5.25%, 06/01/26 (Call 06/01/21)^(a)(b)		19,883		20,200,780
L Brands Inc.
5.25%, 02/01/28		9,205		7,962,325
5.63%, 02/15/22^(a)		18,225		18,607,900
5.63%, 10/15/23		9,652		9,572,285
6.63%, 04/01/21		14,360		15,045,364
Neiman Marcus Group Ltd. LLC, 8.00%, 10/15/21 (Call 04/01/19)^(a)(b)		10,450		5,464,790
Penske Automotive Group Inc.
5.50%, 05/15/26 (Call 05/15/21)^(a)		10,015		9,851,756
5.75%, 10/01/22 (Call 04/01/19)^(a)		11,681		11,897,737
PetSmart Inc.
5.88%, 06/01/25 (Call 06/01/20)^(a)(b)		20,890		16,652,746
7.13%, 03/15/23 (Call 04/01/19)^(a)(b)		28,045		18,993,476
8.88%, 06/01/25 (Call 06/01/20)^(a)(b)		8,161		5,545,538
QVC Inc.
4.38%, 03/15/23^(a)		14,167		14,286,575
4.45%, 02/15/25 (Call 11/15/24)^(a)		10,096		9,816,683
4.85%, 04/01/24		12,349		12,444,238
5.13%, 07/02/22^(a)		8,251		8,598,559
Rite Aid Corp., 6.13%, 04/01/23 (Call 04/01/19)^(a)(b)		26,219		22,351,697
Staples Inc., 8.50%, 09/15/25 (Call 09/15/20)^(a)(b)		18,788		18,412,240


Security	Par (000)		Value

Retail (continued)
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, 06/01/24 (Call 06/01/19)^(a)	$	9,798	$	9,664,043

				463,636,400

Semiconductors — 0.1%
Sensata Technologies UK Financing Co. PLC, 6.25%, 02/15/26 (Call 02/15/21)^(a)(b)		12,695		13,378,237


Software — 2.3%
CDK Global Inc.
4.88%, 06/01/27 (Call 06/01/22)^(a)		12,039		11,825,819
5.00%, 10/15/24 (Call 07/15/24)^(a)		6,755		6,817,122
5.88%, 06/15/26 (Call 06/15/21)^(a)		10,595		10,912,850
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 03/01/20)^(a)(b)		20,045		19,551,769
First Data Corp.
5.00%, 01/15/24 (Call 03/11/19)^(a)(b)		27,453		28,173,916
5.38%, 08/15/23 (Call 03/11/19)^(a)(b)		20,964		21,450,365
5.75%, 01/15/24 (Call 03/11/19)^(a)(b)		29,671		30,618,988
Infor U.S. Inc., 6.50%, 05/15/22 (Call 03/18/19)^(a)		30,853		31,462,964
IQVIA Inc.
4.88%, 05/15/23 (Call 04/01/19)^(b)		14,228		14,501,445
5.00%, 10/15/26 (Call 10/15/21)^(a)(b)		19,834		20,181,095
MSCI Inc.
4.75%, 08/01/26 (Call 08/01/21)^(a)(b)		9,951		9,954,553
5.25%, 11/15/24 (Call 11/15/19)^(a)(b)		14,237		14,666,088
5.38%, 05/15/27 (Call 05/15/22)^(a)(b)		8,339		8,640,483
5.75%, 08/15/25 (Call 08/15/20)^(a)(b)		13,450		14,062,455
Nuance Communications Inc., 5.63%, 12/15/26 (Call 12/15/21)		9,875		10,047,812
Open Text Corp.
5.63%, 01/15/23 (Call 04/01/19)^(a)(b)		12,178		12,513,481
5.88%, 06/01/26 (Call 06/01/21)^(a)(b)		14,935		15,685,484
Rackspace Hosting Inc., 8.63%, 11/15/24 (Call 11/15/19)^(a)(b)		22,763		19,840,711
Solera LLC/Solera Finance Inc., 10.50%, 03/01/24 (Call 04/01/19)^(a)(b)		32,299		35,004,041
Veritas U.S. Inc./Veritas Bermuda Ltd.
7.50%, 02/01/23 (Call 03/11/19)^(a)(b)		7,570		7,134,725
10.50%, 02/01/24 (Call 03/11/19)^(a)(b)		13,869		11,719,305

				354,765,471

Telecommunications — 9.0%
Anixter Inc., 5.13%, 10/01/21^(a)		6,953		7,087,714
C&W Senior Financing DAC
6.88%, 09/15/27 (Call 09/15/22)^(a)(b)		11,085		10,895,677
7.50%, 10/15/26 (Call 10/15/21)^(b)		8,413		8,591,776
CenturyLink Inc.
5.63%, 04/01/25 (Call 01/01/25)^(a)		9,834		9,404,812
Series S, 6.45%, 06/15/21^(a)		23,041		23,958,589
Series T, 5.80%, 03/15/22^(a)		25,585		26,299,249
Series V, 5.63%, 04/01/20		10,554		10,741,861
Series W, 6.75%, 12/01/23^(a)		13,363		13,918,366
Series Y, 7.50%, 04/01/24 (Call 01/01/24)^(a)		18,643		19,755,754
Cincinnati Bell Inc., 7.00%, 07/15/24 (Call 09/15/19)^(a)(b)		12,268		11,071,870
CommScope Finance LLC
5.50%, 03/01/24 (Call 03/01/21)^(b)		9,480		9,650,166
6.00%, 03/01/26 (Call 03/01/22)^(b)		20,795		21,262,887
8.25%, 03/01/27 (Call 03/01/22)^(a)(b)		11,935		12,382,563


Security	Par (000)		Value

Telecommunications (continued)
CommScope Inc.
5.00%, 06/15/21 (Call 03/11/19)^(a)(b)	$	11,632	$	11,667,511
5.50%, 06/15/24 (Call 06/15/19)^(b)		9,797		9,410,733
CommScope Technologies LLC
5.00%, 03/15/27 (Call 03/15/22)^(a)(b)		11,997		10,740,914
6.00%, 06/15/25 (Call 06/15/20)^(b)		30,744		29,053,080
Frontier Communications Corp.
6.88%, 01/15/25 (Call 10/15/24)^(a)		13,459		7,272,907
7.13%, 01/15/23		15,465		9,165,461
7.63%, 04/15/24^(a)		12,447		7,001,438
8.50%, 04/01/26 (Call 04/01/21)^(a)(b)		29,478		27,414,540
8.75%, 04/15/22		9,113		6,196,840
10.50%, 09/15/22 (Call 06/15/22)		40,910		29,352,925
11.00%, 09/15/25 (Call 06/15/25)		64,540		41,332,494
Hughes Satellite Systems Corp.
5.25%, 08/01/26^(a)		14,657		14,422,155
6.63%, 08/01/26^(a)		14,411		14,122,780
7.63%, 06/15/21^(a)		16,745		17,959,013
Inmarsat Finance PLC
4.88%, 05/15/22 (Call 04/01/19)^(a)(b)		18,561		18,521,172
6.50%, 10/01/24 (Call 10/01/19)^(a)(b)		6,938		6,868,620
Intelsat Connect Finance SA, 9.50%, 02/15/23 (Call 08/15/20)^(a)(b)		23,532		22,826,040
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 04/01/19)		37,391		34,212,765
8.00%, 02/15/24 (Call 04/01/19)^(a)(b)		19,371		20,218,481
8.50%, 10/15/24 (Call 10/15/20)^(b)		53,153		53,668,584
9.50%, 09/30/22^(b)		9,481		10,999,230
9.75%, 07/15/25 (Call 07/15/21)^(b)		27,113		28,197,520
Intelsat Luxembourg SA, 8.13%, 06/01/23 (Call 04/15/19)^(a)		18,137		15,189,738
Koninklijke KPN NV, 7.00%, 03/28/73 (Call 03/28/23)^(a)(b)(c)(d)		10,395		10,789,100
Level 3 Financing Inc.
5.13%, 05/01/23 (Call 04/01/19)^(a)		14,673		14,771,055
5.25%, 03/15/26 (Call 03/15/21)^(a)		14,549		14,292,117
5.38%, 08/15/22 (Call 04/01/19)^(a)		20,566		20,720,245
5.38%, 01/15/24 (Call 04/01/19)^(a)		16,956		17,096,243
5.38%, 05/01/25 (Call 05/01/20)^(a)		15,757		15,697,911
5.63%, 02/01/23 (Call 04/01/19)^(a)		9,464		9,550,507
6.13%, 01/15/21 (Call 04/01/19)		7,840		7,878,792
Nokia OYJ
3.38%, 06/12/22		9,986		9,782,535
4.38%, 06/12/27^(a)		10,294		10,133,156
Qwest Corp., 6.75%, 12/01/21^(a)		17,539		18,710,824
Sprint Communications Inc.
6.00%, 11/15/22		41,432		42,131,356
7.00%, 03/01/20^(b)		10,236		10,568,670
7.00%, 08/15/20		26,424		27,544,378
11.50%, 11/15/21		16,217		18,889,562
Sprint Corp.
7.13%, 06/15/24		44,632		46,019,774
7.25%, 09/15/21		35,431		37,423,994
7.63%, 02/15/25 (Call 11/15/24)^(a)		27,562		28,921,438
7.63%, 03/01/26 (Call 11/01/25)		27,943		29,118,352
7.88%, 09/15/23		75,742		81,063,633
Telecom Italia SpA/Milano, 5.30%, 05/30/24^(a)(b)		27,124		26,411,995
Telefonaktiebolaget LM Ericsson, 4.13%, 05/15/22^(a)		19,859		20,061,959


Security	Par (000)		Value

Telecommunications (continued)
T-Mobile USA Inc.
4.00%, 04/15/22 (Call 03/16/22)	$	7,921	$	7,939,565
4.50%, 02/01/26 (Call 02/01/21)		18,768		18,525,517
4.75%, 02/01/28 (Call 02/01/23)		27,193		26,442,473
5.13%, 04/15/25 (Call 04/15/20)		8,465		8,673,980
5.38%, 04/15/27 (Call 04/15/22)		10,024		10,271,676
6.00%, 03/01/23 (Call 03/11/19)		16,830		17,292,825
6.00%, 04/15/24 (Call 04/15/19)		18,710		19,395,534
6.38%, 03/01/25 (Call 09/01/19)		31,446		32,782,455
6.50%, 01/15/24 (Call 03/11/19)^(a)		13,324		13,761,350
6.50%, 01/15/26 (Call 01/15/21)^(a)		36,659		39,239,709
Wind Tre SpA, 5.00%, 01/20/26 (Call 11/03/20)^(b)		36,144		31,354,920

				1,374,093,825

Toys, Games & Hobbies — 0.2%
Mattel Inc., 6.75%, 12/31/25 (Call 12/31/20)^(b)		28,862		28,465,147


Transportation — 0.4%
Navios Maritime Holdings Inc./Navios Maritime Finance II U.S. Inc., 7.38%, 01/15/22 (Call 04/01/19)^(a)(b)		8,332		3,728,570
XPO Logistics Inc.
6.13%, 09/01/23 (Call 09/01/19)^(a)(b)		10,628		10,588,145
6.50%, 06/15/22 (Call 04/01/19)^(b)		23,816		24,262,550
6.75%, 08/15/24 (Call 08/15/21)^(a)(b)		17,550		17,659,687

				56,238,952

Trucking & Leasing — 0.7%
Avolon Holdings Funding Ltd.
5.13%, 10/01/23 (Call 09/01/23)^(b)		18,222		18,404,220
5.25%, 05/15/24 (Call 04/15/24)^(b)		4,855		4,976,375
5.50%, 01/15/23 (Call 12/15/22)^(b)		8,705		8,924,366
Park Aerospace Holdings Ltd.
4.50%, 03/15/23 (Call 02/15/23)^(a)(b)		16,446		16,293,103
5.25%, 08/15/22^(a)(b)		32,071		32,831,404
5.50%, 02/15/24^(a)(b)		21,720		22,425,900

				103,855,368


Total Corporate Bonds & Notes — 98.2% (Cost: $15,567,053,774)				15,070,194,894


Security	Shares (000)		Value

Short-Term Investments

Money Market Funds — 24.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%^(g)(h)(i)		3,540,731	$	3,542,147,417
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.33%^(g)(h)		195,221		195,221,490

				3,737,368,907


Total Short-Term Investments — 24.4% (Cost: $3,736,186,466)				3,737,368,907


Total Investments in Securities — 122.6% (Cost: $19,303,240,240)				18,807,563,801

Other Assets, Less Liabilities — (22.6)%				(3,465,699,831	)


Net Assets — 100.0%			$	15,341,863,970

^(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. Reference index and spread are provided if the rate is currently floating.

^(d)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

^(f)	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.

^(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 28, 2019, 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 28, 2019. 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)	$	20,782	$	20,031,842
3.63%, 05/01/22^(a)		2,162		2,175,884
3.65%, 11/01/24 (Call 08/01/24)^(a)		13,353		13,213,734
WPP Finance 2010
3.75%, 09/19/24^(a)		8,913		8,647,721
4.75%, 11/21/21^(a)		2,356		2,403,947

				46,473,128

Aerospace & Defense — 1.9%
General Dynamics Corp.
2.25%, 11/15/22 (Call 08/15/22)^(a)		10,773		10,525,452
3.38%, 05/15/23 (Call 04/15/23)		11,763		11,925,306
3.50%, 05/15/25 (Call 03/15/25)^(a)		12,936		13,166,389
3.75%, 05/15/28 (Call 02/15/28)^(a)		9,364		9,587,236
L3 Technologies Inc.
3.85%, 06/15/23 (Call 05/15/23)^(a)		7,204		7,307,841
4.40%, 06/15/28 (Call 03/15/28)^(a)		14,490		14,967,147
Lockheed Martin Corp.
2.90%, 03/01/25 (Call 12/01/24)^(a)		14,715		14,429,032
3.35%, 09/15/21		8,355		8,468,497
3.55%, 01/15/26 (Call 10/15/25)^(a)		21,771		22,141,061
3.80%, 03/01/45 (Call 09/01/44)		12,153		11,446,253
4.07%, 12/15/42		9,356		9,157,363
4.09%, 09/15/52 (Call 03/15/52)^(a)		22,522		21,726,606
4.70%, 05/15/46 (Call 11/15/45)^(a)		9,591		10,315,402
Northrop Grumman Corp.
2.55%, 10/15/22 (Call 09/15/22)		12,298		12,070,733
2.93%, 01/15/25 (Call 11/15/24)^(a)		23,967		23,240,941
3.20%, 02/01/27 (Call 11/01/26)^(a)		7,149		6,895,872
3.25%, 08/01/23^(a)		10,487		10,505,376
3.25%, 01/15/28 (Call 10/15/27)^(a)		28,010		26,771,093
4.03%, 10/15/47 (Call 04/15/47)		27,186		25,446,256
4.75%, 06/01/43		11,872		12,366,726
Raytheon Co., 2.50%, 12/15/22 (Call 09/15/22)^(a)		16,952		16,719,125
Rockwell Collins Inc.
2.80%, 03/15/22 (Call 02/15/22)		13,023		12,814,477
3.20%, 03/15/24 (Call 01/15/24)		7,410		7,260,985
3.50%, 03/15/27 (Call 12/15/26)		21,634		20,872,154
4.35%, 04/15/47 (Call 10/15/46)		13,512		12,738,114
United Technologies Corp.
1.95%, 11/01/21 (Call 10/01/21)^(a)		3,289		3,205,123
2.65%, 11/01/26 (Call 08/01/26)		15,140		14,052,568
2.80%, 05/04/24 (Call 03/04/24)		15,747		15,281,796
3.10%, 06/01/22^(a)		21,874		21,852,351
3.13%, 05/04/27 (Call 02/04/27)		7,560		7,180,484
3.65%, 08/16/23 (Call 07/16/23)^(a)		22,166		22,490,845
3.75%, 11/01/46 (Call 05/01/46)^(a)		9,357		8,203,362
3.95%, 08/16/25 (Call 06/16/25)^(a)		22,686		23,143,150
4.13%, 11/16/28 (Call 08/16/28)		33,163		33,591,237
4.15%, 05/15/45 (Call 11/16/44)		16,202		15,160,733
4.45%, 11/16/38 (Call 05/16/38)		9,325		9,262,415
4.50%, 06/01/42		35,011		34,563,038
4.63%, 11/16/48 (Call 05/16/48)^(a)		17,330		17,433,789
5.70%, 04/15/40^(a)		14,348		16,169,783
6.13%, 07/15/38^(a)		18,300		21,314,548

				615,770,659


Security	Par (000)		Value

Agriculture — 1.7%
Altria Group Inc.
2.63%, 09/16/26 (Call 06/16/26)^(a)	$	235	$	209,394
2.85%, 08/09/22		23,426		23,041,882
3.80%, 02/14/24 (Call 01/14/24)^(a)		11,865		11,873,010
3.88%, 09/16/46 (Call 03/16/46)^(a)		19,955		15,096,049
4.00%, 01/31/24^(a)		18,984		19,189,170
4.25%, 08/09/42^(a)		12,203		9,832,112
4.40%, 02/14/26 (Call 12/14/25)		16,600		16,743,353
4.80%, 02/14/29 (Call 11/14/28)		33,085		33,019,578
5.38%, 01/31/44^(a)		20,363		19,074,014
5.80%, 02/14/39 (Call 08/14/38)		23,100		22,972,918
5.95%, 02/14/49 (Call 08/14/48)		30,320		30,213,744
Archer-Daniels-Midland Co., 2.50%, 08/11/26 (Call 05/11/26)^(a)		11,215		10,553,937
BAT Capital Corp.
2.76%, 08/15/22 (Call 07/15/22)^(a)		24,162		23,500,454
3.22%, 08/15/24 (Call 06/15/24)^(a)		27,444		26,378,533
3.56%, 08/15/27 (Call 05/15/27)^(a)		40,756		37,340,871
4.39%, 08/15/37 (Call 02/15/37)^(a)		35,840		30,018,530
4.54%, 08/15/47 (Call 02/15/47)^(a)		28,535		23,013,535
Philip Morris International Inc.
2.38%, 08/17/22 (Call 07/17/22)^(a)		4,105		4,003,985
2.50%, 08/22/22^(a)		11,838		11,598,556
2.50%, 11/02/22 (Call 10/02/22)^(a)		6,600		6,446,740
2.75%, 02/25/26 (Call 11/25/25)		8,882		8,379,968
2.90%, 11/15/21^(a)		3,278		3,265,309
3.25%, 11/10/24^(a)		5,035		4,993,558
3.38%, 08/11/25 (Call 05/11/25)^(a)		9,233		9,167,127
3.88%, 08/21/42^(a)		7,591		6,600,822
4.13%, 03/04/43		8,538		7,654,490
4.25%, 11/10/44^(a)		12,693		11,658,278
4.38%, 11/15/41^(a)		13,615		12,659,989
4.88%, 11/15/43		8,081		7,993,393
6.38%, 05/16/38^(a)		22,654		26,608,532
Reynolds American Inc.
4.00%, 06/12/22^(a)		9,506		9,615,423
4.45%, 06/12/25 (Call 03/12/25)^(a)		30,952		31,201,616
5.70%, 08/15/35 (Call 02/15/35)		8,976		8,896,399
5.85%, 08/15/45 (Call 02/15/45)		30,105		28,705,683

				551,520,952

Airlines — 0.0%
Delta Air Lines Inc., 3.63%, 03/15/22 (Call 02/15/22)^(a)		8,169		8,137,533


Apparel — 0.1%
NIKE Inc.
2.38%, 11/01/26 (Call 08/01/26)^(a)		14,984		14,135,302
3.88%, 11/01/45 (Call 05/01/45)^(a)		12,979		12,783,017

				26,918,319

Auto Manufacturers — 1.7%
Daimler Finance North America LLC
3.65%, 02/22/24^(b)		12,000		11,937,797
8.50%, 01/18/31		19,809		27,040,250
Ford Motor Co.
4.35%, 12/08/26 (Call 09/08/26)^(a)		18,258		16,565,138
4.75%, 01/15/43		20,518		15,657,152
5.29%, 12/08/46 (Call 06/08/46)^(a)		20,684		16,671,341
7.45%, 07/16/31^(a)		24,757		26,113,495
Ford Motor Credit Co. LLC
2.98%, 08/03/22 (Call 07/03/22)^(a)		4,000		3,772,870
3.10%, 05/04/23		6,393		5,879,512


Security	Par (000)		Value

Auto Manufacturers (continued)
3.34%, 03/28/22 (Call 02/28/22)^(a)	$	4,028	$	3,865,017
3.66%, 09/08/24^(a)		11,658		10,560,078
3.81%, 01/09/24 (Call 11/09/23)^(a)		5,783		5,367,505
3.82%, 11/02/27 (Call 08/02/27)^(a)		8,740		7,415,559
4.13%, 08/04/25		17,749		16,221,965
4.14%, 02/15/23 (Call 01/15/23)^(a)		8,935		8,627,518
4.25%, 09/20/22^(a)		10,076		9,881,356
4.38%, 08/06/23^(a)		11,766		11,433,049
4.39%, 01/08/26^(a)		19,649		17,930,966
General Motors Co.
4.20%, 10/01/27 (Call 07/01/27)		9,079		8,500,335
4.88%, 10/02/23^(a)		7,801		8,039,065
5.00%, 10/01/28 (Call 07/01/28)^(a)		13,040		12,767,889
5.00%, 04/01/35		7,755		6,899,637
5.15%, 04/01/38 (Call 10/01/37)		15,474		13,911,915
5.20%, 04/01/45		14,060		12,242,940
5.40%, 04/01/48 (Call 10/01/47)		9,973		8,963,488
5.95%, 04/01/49 (Call 10/01/48)		13,865		13,172,762
6.25%, 10/02/43^(a)		13,806		13,585,045
6.60%, 04/01/36 (Call 10/01/35)^(a)		14,426		14,935,337
6.75%, 04/01/46 (Call 10/01/45)		8,662		8,912,139
General Motors Financial Co. Inc.
3.15%, 06/30/22 (Call 05/30/22)^(a)		15,743		15,433,217
3.25%, 01/05/23 (Call 12/05/22)^(a)		2,408		2,344,833
3.45%, 01/14/22 (Call 12/14/21)^(a)		14,431		14,392,410
3.45%, 04/10/22 (Call 02/10/22)		11,650		11,573,301
3.50%, 11/07/24 (Call 09/07/24)^(a)		9,876		9,329,233
3.70%, 05/09/23 (Call 03/09/23)^(a)		15,999		15,734,260
3.95%, 04/13/24 (Call 02/13/24)^(a)		13,635		13,241,109
4.00%, 01/15/25 (Call 10/15/24)		11,287		10,846,543
4.00%, 10/06/26 (Call 07/06/26)^(a)		5,930		5,554,297
4.15%, 06/19/23 (Call 05/19/23)		16,104		16,067,409
4.30%, 07/13/25 (Call 04/13/25)^(a)		8,544		8,309,521
4.35%, 04/09/25 (Call 02/09/25)^(a)		13,795		13,458,699
4.35%, 01/17/27 (Call 10/17/26)		11,483		10,876,930
5.10%, 01/17/24 (Call 12/17/23)		8,090		8,267,126
5.25%, 03/01/26 (Call 12/01/25)^(a)		18,346		18,594,702
Toyota Motor Corp., 3.42%, 07/20/23^(a)		2,150		2,178,854
Toyota Motor Credit Corp.
2.15%, 09/08/22^(a)		5,790		5,639,249
3.20%, 01/11/27^(a)		11,533		11,428,833
3.30%, 01/12/22^(a)		5,280		5,340,811
3.45%, 09/20/23^(a)		11,025		11,197,741

				546,680,198

Banks — 25.5%
Australia & New Zealand Banking Group Ltd./New York NY
2.30%, 06/01/21		3,135		3,080,563
2.55%, 11/23/21^(a)		2,794		2,747,942
2.63%, 05/19/22^(a)		647		635,558
2.63%, 11/09/22		7,580		7,453,999
3.70%, 11/16/25^(a)		12,242		12,384,051
Banco Santander SA
3.13%, 02/23/23		9,287		9,007,741
3.50%, 04/11/22^(a)		12,312		12,266,664
3.80%, 02/23/28		20,310		19,112,358
3.85%, 04/12/23^(a)		10,275		10,209,119
4.25%, 04/11/27^(a)		13,887		13,605,048
4.38%, 04/12/28^(a)		12,822		12,616,852
5.18%, 11/19/25^(a)		2,498		2,561,399


Security	Par (000)		Value

Banks (continued)
Bank of America Corp.
2.33%, 10/01/21 (Call 10/01/20)^(c)(d)	$	1,541	$	1,524,269
2.50%, 10/21/22 (Call 10/21/21)^(a)		14,191		13,875,987
2.82%, 07/21/23 (Call 07/21/22)^(a)(c)(d)		3,824		3,763,530
2.88%, 04/24/23 (Call 04/24/22)^(a)(c)(d)		9,588		9,464,320
3.00%, 12/20/23 (Call 12/20/22)^(a)(c)(d)		38,476		38,011,148
3.09%, 10/01/25 (Call 10/01/24)^(a)(c)(d)		15,699		15,315,532
3.12%, 01/20/23 (Call 01/20/22)^(c)(d)		18,242		18,167,972
3.25%, 10/21/27 (Call 10/21/26)^(a)		24,487		23,438,587
3.30%, 01/11/23		45,268		45,434,627
3.37%, 01/23/26 (Call 01/23/25)^(c)(d)		28,650		28,187,073
3.42%, 12/20/28 (Call 12/20/27)^(a)(c)(d)		67,182		64,817,355
3.50%, 04/19/26^(a)		27,269		27,032,613
3.55%, 03/05/24 (Call 03/05/23)^(a)(c)(d)		11,605		11,642,584
3.59%, 07/21/28 (Call 07/21/27)^(c)(d)		26,642		26,041,417
3.71%, 04/24/28 (Call 04/24/27)^(a)(c)(d)		24,797		24,460,153
3.82%, 01/20/28 (Call 01/20/27)^(a)(c)(d)		26,796		26,654,517
3.86%, 07/23/24 (Call 07/23/23)^(c)(d)		22,167		22,531,705
3.88%, 08/01/25^(a)		23,409		23,850,786
3.95%, 01/23/49 (Call 01/23/48)^(a)(c)(d)		11,259		10,608,523
3.97%, 03/05/29 (Call 03/05/28)^(a)(c)(d)		25,900		25,988,006
3.97%, 02/07/30 (Call 02/07/29)^(a)(c)(d)		18,145		18,228,781
4.00%, 04/01/24^(a)		34,769		35,792,940
4.00%, 01/22/25		23,363		23,444,771
4.10%, 07/24/23^(a)		20,858		21,506,160
4.13%, 01/22/24^(a)		30,881		31,908,324
4.20%, 08/26/24^(a)		36,540		37,369,334
4.24%, 04/24/38 (Call 04/24/37)^(a)(c)(d)		31,988		31,883,243
4.25%, 10/22/26		25,660		25,815,831
4.27%, 07/23/29 (Call 07/23/28)^(a)(c)(d)		38,416		39,447,673
4.44%, 01/20/48 (Call 01/20/47)^(a)(c)(d)		27,111		27,611,233
4.45%, 03/03/26		28,116		28,641,317
4.88%, 04/01/44		951		1,023,993
5.00%, 01/21/44^(a)		16,072		17,558,880
5.70%, 01/24/22^(a)		1,827		1,962,428
5.88%, 02/07/42^(a)		16,671		20,268,300
6.11%, 01/29/37		24,203		27,925,378
7.75%, 05/14/38^(a)		16,367		22,155,813
Series L, 3.95%, 04/21/25		34,045		34,037,738
Series L, 4.18%, 11/25/27 (Call 11/25/26)^(a)		24,814		24,694,821
Bank of America N.A., 6.00%, 10/15/36^(a)		13,770		16,469,847
Bank of Montreal
2.35%, 09/11/22^(a)		6,320		6,170,715
2.55%, 11/06/22 (Call 10/06/22)^(a)		5,167		5,066,476
Series E, 3.30%, 02/05/24^(a)		18,890		18,832,854
Bank of New York Mellon Corp. (The)
2.20%, 08/16/23 (Call 06/16/23)		8,038		7,724,593
2.45%, 08/17/26 (Call 05/17/26)		7,416		6,949,190
2.66%, 05/16/23 (Call 05/16/22)^(a)(c)(d)		535		526,435
2.80%, 05/04/26 (Call 02/04/26)^(a)		10,584		10,176,841
2.95%, 01/29/23 (Call 12/29/22)		15,466		15,389,688
3.25%, 05/16/27 (Call 02/16/27)		16,631		16,420,405
3.30%, 08/23/29 (Call 05/23/29)		8,923		8,682,651
3.40%, 01/29/28 (Call 10/29/27)^(a)		13,250		13,218,028
3.44%, 02/07/28 (Call 02/07/27)^(a)(c)(d)		762		759,866
3.45%, 08/11/23^(a)		9,945		10,081,401
3.50%, 04/28/23^(a)		15,811		16,036,400
3.65%, 02/04/24 (Call 01/05/24)		14,912		15,226,852
Series G, 3.00%, 02/24/25 (Call 01/24/25)^(a)		10,457		10,297,151


Security	Par (000)		Value

Banks (continued)
Bank of Nova Scotia (The)
2.45%, 09/19/22^(a)	$	7,254	$	7,105,813
2.70%, 03/07/22^(a)		3,003		2,975,727
2.80%, 07/21/21^(a)		10,955		10,898,431
3.40%, 02/11/24^(a)		19,000		19,016,895
4.50%, 12/16/25^(a)		11,376		11,676,727
Barclays PLC
3.65%, 03/16/25		16,632		15,949,193
3.68%, 01/10/23 (Call 01/10/22)^(a)		8,914		8,830,841
4.34%, 05/16/24 (Call 05/16/23)^(a)(c)(d)		25,630		25,576,377
4.34%, 01/10/28 (Call 01/10/27)^(a)		14,228		13,777,492
4.38%, 09/11/24^(a)		12,238		12,023,740
4.38%, 01/12/26^(a)		32,061		31,834,931
4.84%, 05/09/28 (Call 05/07/27)^(a)		21,289		20,543,681
4.95%, 01/10/47^(a)		16,436		15,648,548
4.97%, 05/16/29 (Call 05/16/28)^(a)(c)(d)		19,356		19,600,457
5.20%, 05/12/26^(a)		30,364		30,620,111
5.25%, 08/17/45		16,638		16,671,585
BB&T Corp.
2.75%, 04/01/22 (Call 03/01/22)^(a)		9,717		9,654,983
2.85%, 10/26/24 (Call 09/26/24)		14,469		14,163,551
3.70%, 06/05/25 (Call 05/05/25)		15,065		15,347,077
3.75%, 12/06/23 (Call 11/06/23)		5,171		5,294,168
BNP Paribas SA
3.25%, 03/03/23		12,268		12,341,228
4.25%, 10/15/24^(a)		10,636		10,689,782
BPCE SA
2.75%, 12/02/21^(a)		8,566		8,448,185
4.00%, 04/15/24^(a)		16,373		16,697,688
Branch Banking & Trust Co.
2.63%, 01/15/22 (Call 12/15/21)		3,176		3,146,689
3.63%, 09/16/25 (Call 08/16/25)^(a)		20,010		20,073,066
3.80%, 10/30/26 (Call 09/30/26)		7,479		7,523,371
Canadian Imperial Bank of Commerce
2.55%, 06/16/22^(a)		10,016		9,900,707
3.50%, 09/13/23^(a)		11,470		11,610,865
Capital One N.A.
2.25%, 09/13/21 (Call 08/13/21)		3,262		3,174,744
2.65%, 08/08/22 (Call 07/08/22)^(a)		7,631		7,440,053
Citibank N.A., 3.65%, 01/23/24 (Call 12/23/23)^(a)		12,405		12,605,698
Citigroup Inc.
2.70%, 10/27/22 (Call 09/27/22)^(a)		12,809		12,580,042
2.75%, 04/25/22 (Call 03/25/22)^(a)		10,088		9,957,147
2.88%, 07/24/23 (Call 07/24/22)^(a)(c)(d)		32,187		31,739,948
3.14%, 01/24/23 (Call 01/24/22)^(c)(d)		17,764		17,677,841
3.20%, 10/21/26 (Call 07/21/26)^(a)		43,951		42,071,721
3.30%, 04/27/25^(a)		18,703		18,446,352
3.40%, 05/01/26^(a)		14,200		13,850,872
3.50%, 05/15/23^(a)		18,918		18,970,023
3.52%, 10/27/28 (Call 10/27/27)^(a)(c)(d)		22,364		21,643,045
3.67%, 07/24/28 (Call 07/24/27)^(a)(c)(d)		28,973		28,367,531
3.70%, 01/12/26^(a)		13,862		13,817,127
3.75%, 06/16/24^(a)		673		683,011
3.88%, 10/25/23^(a)		15,457		15,844,394
3.88%, 03/26/25^(a)		13,423		13,322,293
3.88%, 01/24/39 (Call 01/24/38)^(a)(c)(d)		9,699		9,176,920
3.89%, 01/10/28 (Call 01/10/27)^(a)(c)(d)		42,329		42,168,666
4.00%, 08/05/24^(a)		3,866		3,891,255
4.04%, 06/01/24 (Call 06/01/23)^(a)(c)(d)		15,663		16,003,225
4.05%, 07/30/22^(a)		16,665		17,060,949


Security	Par (000)		Value

Banks (continued)
4.08%, 04/23/29 (Call 04/23/28)^(a)(c)(d)	$	20,500	$	20,675,123
4.13%, 07/25/28^(a)		20,360		20,014,135
4.28%, 04/24/48 (Call 04/24/47)^(a)(c)(d)		11,480		11,404,289
4.30%, 11/20/26^(a)		13,739		13,761,058
4.40%, 06/10/25		29,271		29,774,874
4.45%, 09/29/27^(a)		40,551		40,742,774
4.50%, 01/14/22		16,616		17,216,673
4.60%, 03/09/26^(a)		14,133		14,450,177
4.65%, 07/30/45		14,125		14,642,702
4.65%, 07/23/48 (Call 06/23/48)		29,302		30,499,195
4.75%, 05/18/46^(a)		25,129		24,729,723
5.30%, 05/06/44		12,038		12,752,288
5.50%, 09/13/25^(a)		12,975		14,023,841
5.88%, 01/30/42		13,326		15,801,023
6.63%, 06/15/32^(a)		12,208		14,437,521
6.68%, 09/13/43^(a)		13,614		16,752,318
8.13%, 07/15/39		27,005		39,199,945
Citizens Financial Group Inc., 4.30%, 12/03/25 (Call 11/03/25)		10,817		10,903,218
Compass Bank, 2.88%, 06/29/22 (Call 05/29/22)^(a)		7,973		7,784,996
Cooperatieve Rabobank UA
3.75%, 07/21/26^(a)		32,424		31,271,486
3.95%, 11/09/22		18,906		19,066,278
4.38%, 08/04/25^(a)		23,578		23,950,962
4.63%, 12/01/23		21,021		21,654,560
5.25%, 05/24/41^(a)		16,543		18,927,718
5.25%, 08/04/45^(a)		4,414		4,759,927
5.75%, 12/01/43^(a)		10,949		12,542,189
Cooperatieve Rabobank UA/NY
2.75%, 01/10/23^(a)		16,418		16,118,887
3.38%, 05/21/25^(a)		16,134		16,169,306
Credit Suisse AG/New York NY
3.00%, 10/29/21		1,875		1,869,885
3.63%, 09/09/24^(a)		35,185		35,226,476
Credit Suisse Group Funding Guernsey Ltd.
3.75%, 03/26/25^(a)		24,572		24,183,389
3.80%, 09/15/22^(a)		24,601		24,749,037
3.80%, 06/09/23		20,875		20,843,343
4.55%, 04/17/26^(a)		27,117		27,781,453
4.88%, 05/15/45^(a)		22,707		23,240,283
Deutsche Bank AG
4.10%, 01/13/26^(a)		803		765,002
4.25%, 10/14/21		1,515		1,501,395
Deutsche Bank AG/London, 3.70%, 05/30/24^(a)		10,513		9,829,740
Deutsche Bank AG/New York NY
3.30%, 11/16/22^(a)		4,829		4,575,661
3.70%, 05/30/24		11,908		11,166,940
3.95%, 02/27/23^(a)		9,873		9,543,825
Discover Bank
3.20%, 08/09/21 (Call 07/09/21)		461		459,421
3.35%, 02/06/23 (Call 01/06/23)		6,668		6,608,489
3.45%, 07/27/26 (Call 04/27/26)^(a)		18,532		17,510,959
4.20%, 08/08/23		12,485		12,751,899
4.65%, 09/13/28 (Call 06/13/28)^(a)		4,200		4,257,224
Fifth Third Bancorp.
3.65%, 01/25/24 (Call 12/25/23)		2,318		2,345,224
3.95%, 03/14/28 (Call 02/14/28)^(a)		4,370		4,387,961
4.30%, 01/16/24 (Call 12/16/23)^(a)		8,961		9,231,447
8.25%, 03/01/38		9,282		12,736,514


Security	Par (000)		Value

Banks (continued)
Fifth Third Bank/Cincinnati OH
3.85%, 03/15/26 (Call 02/15/26)^(a)	$	21,294	$	21,223,800
3.95%, 07/28/25 (Call 06/28/25)^(a)		1,125		1,157,111
Goldman Sachs Group Inc. (The)
2.88%, 10/31/22 (Call 10/31/21)^(c)(d)		29,362		28,910,368
2.91%, 06/05/23 (Call 06/05/22)^(c)(d)		20,745		20,364,454
2.91%, 07/24/23 (Call 07/24/22)^(c)(d)		20,506		20,090,690
3.00%, 04/26/22 (Call 04/26/21)^(a)		23,721		23,539,511
3.20%, 02/23/23 (Call 01/23/23)^(a)		22,266		22,111,648
3.27%, 09/29/25 (Call 09/29/24)^(a)(c)(d)		28,413		27,535,672
3.50%, 01/23/25 (Call 10/23/24)^(a)		36,717		36,090,116
3.50%, 11/16/26 (Call 11/16/25)		27,422		26,388,232
3.63%, 01/22/23^(a)		31,403		31,599,806
3.63%, 02/20/24 (Call 01/20/24)^(a)		10,690		10,673,485
3.69%, 06/05/28 (Call 06/05/27)^(c)(d)		33,405		32,295,857
3.75%, 05/22/25 (Call 02/22/25)^(a)		32,919		32,787,182
3.75%, 02/25/26 (Call 11/25/25)		19,214		18,945,027
3.81%, 04/23/29 (Call 04/23/28)^(a)(c)(d)		33,728		32,749,193
3.85%, 07/08/24 (Call 04/08/24)		27,840		28,084,009
3.85%, 01/26/27 (Call 01/26/26)^(a)		27,472		26,958,260
4.00%, 03/03/24^(a)		30,591		31,034,459
4.02%, 10/31/38 (Call 10/31/37)^(c)(d)		29,084		26,927,581
4.22%, 05/01/29 (Call 05/01/28)^(a)(c)(d)		37,750		37,785,912
4.25%, 10/21/25^(a)		18,575		18,616,224
4.41%, 04/23/39 (Call 04/23/38)^(a)(c)(d)		20,330		19,689,786
4.75%, 10/21/45 (Call 04/21/45)^(a)		23,824		24,105,886
4.80%, 07/08/44 (Call 01/08/44)^(a)		25,928		26,312,914
5.15%, 05/22/45		19,712		19,840,374
5.75%, 01/24/22		26,702		28,504,377
5.95%, 01/15/27^(a)		7,449		8,173,563
6.13%, 02/15/33		365		430,969
6.25%, 02/01/41^(a)		27,285		32,846,507
6.45%, 05/01/36^(a)		855		999,720
6.75%, 10/01/37		64,138		76,464,522
HSBC Bank USA N.A./New York NY
5.63%, 08/15/35^(a)		7,592		8,535,840
5.88%, 11/01/34		12,733		14,752,948
HSBC Holdings PLC
2.65%, 01/05/22^(a)		11,158		10,997,858
2.95%, 05/25/21^(a)		2,124		2,113,990
3.03%, 11/22/23 (Call 11/22/22)^(a)(c)(d)		13,819		13,570,809
3.26%, 03/13/23 (Call 03/13/22)^(a)(c)(d)		31,652		31,412,913
3.60%, 05/25/23^(a)		22,400		22,501,488
3.90%, 05/25/26		35,822		35,614,766
3.95%, 05/18/24 (Call 05/18/23)^(c)(d)		10,685		10,780,027
4.00%, 03/30/22^(a)		28,605		29,306,478
4.04%, 03/13/28 (Call 03/13/27)^(c)(d)		22,709		22,430,095
4.25%, 03/14/24^(a)		14,128		14,269,272
4.25%, 08/18/25^(a)		24,469		24,676,568
4.29%, 09/12/26 (Call 09/12/25)^(a)(c)(d)		17,590		17,817,980
4.30%, 03/08/26^(a)		36,689		37,375,682
4.38%, 11/23/26^(a)		15,971		16,068,723
4.58%, 06/19/29 (Call 06/19/28)^(a)(c)(d)		31,246		32,023,391
4.88%, 01/14/22^(a)		7,027		7,344,976
5.25%, 03/14/44^(a)		17,161		18,106,465
6.10%, 01/14/42^(a)		10,565		13,130,134
6.50%, 05/02/36^(a)		25,853		30,735,965
6.50%, 09/15/37^(a)		32,190		38,427,208
6.80%, 06/01/38		23,836		29,435,968
HSBC USA Inc., 3.50%, 06/23/24^(a)		9,614		9,612,777


Security	Par (000)		Value

Banks (continued)
Huntington Bancshares Inc./OH, 2.30%, 01/14/22 (Call 12/14/21)^(a)	$	7,838	$	7,650,383
Huntington National Bank (The), 3.55%, 10/06/23 (Call 09/06/23)^(a)		2,600		2,630,046
ING Groep NV
3.15%, 03/29/22^(a)		11,373		11,294,922
3.95%, 03/29/27^(a)		25,699		25,264,381
4.10%, 10/02/23^(a)		14,745		14,939,071
4.55%, 10/02/28^(a)		22,087		22,563,222
JPMorgan Chase & Co.
2.30%, 08/15/21 (Call 08/15/20)^(a)		1,800		1,766,871
2.70%, 05/18/23 (Call 03/18/23)^(a)		28,372		27,864,836
2.78%, 04/25/23 (Call 04/25/22)^(c)(d)		14,729		14,559,705
2.95%, 10/01/26 (Call 07/01/26)^(a)		27,506		26,249,355
2.97%, 01/15/23 (Call 01/15/22)^(a)		17,243		17,128,517
3.13%, 01/23/25 (Call 10/23/24)^(a)		32,837		32,270,683
3.20%, 01/25/23		33,917		33,940,477
3.20%, 06/15/26 (Call 03/15/26)^(a)		23,220		22,556,282
3.22%, 03/01/25 (Call 03/01/24)^(c)(d)		18,927		18,702,337
3.25%, 09/23/22^(a)		34,920		35,101,137
3.30%, 04/01/26 (Call 01/01/26)^(a)		32,913		32,227,774
3.38%, 05/01/23^(a)		20,124		20,087,163
3.51%, 01/23/29 (Call 01/23/28)^(a)(c)(d)		31,023		30,142,819
3.54%, 05/01/28 (Call 05/01/27)^(a)(c)(d)		23,077		22,658,522
3.56%, 04/23/24 (Call 04/23/23)^(c)(d)		18,338		18,432,501
3.63%, 05/13/24^(a)		25,270		25,570,064
3.63%, 12/01/27 (Call 12/01/26)^(a)		16,977		16,427,833
3.78%, 02/01/28 (Call 02/01/27)^(a)(c)(d)		26,118		26,079,084
3.80%, 07/23/24 (Call 07/23/23)^(a)(c)(d)		26,562		26,969,079
3.88%, 02/01/24^(a)		20,661		21,176,331
3.88%, 09/10/24		28,699		29,018,552
3.88%, 07/24/38 (Call 07/24/37)^(c)(d)		28,717		27,239,651
3.90%, 07/15/25 (Call 04/15/25)^(a)		24,456		24,998,605
3.90%, 01/23/49 (Call 01/23/48)^(c)(d)		22,281		20,723,821
3.96%, 01/29/27 (Call 01/29/26)^(a)(c)(d)		22,375		22,703,798
3.96%, 11/15/48 (Call 11/15/47)^(a)(c)(d)		25,408		23,833,352
4.01%, 04/23/29 (Call 04/23/28)^(c)(d)		33,303		33,657,764
4.02%, 12/05/24 (Call 12/05/23)^(a)(c)(d)		5,240		5,364,651
4.03%, 07/24/48 (Call 07/24/47)^(a)(c)(d)		18,043		17,156,522
4.13%, 12/15/26^(a)		20,959		21,192,502
4.20%, 07/23/29 (Call 07/23/28)^(c)(d)		28,956		29,644,742
4.25%, 10/01/27^(a)		17,692		17,945,111
4.26%, 02/22/48 (Call 02/22/47)^(c)(d)		23,207		22,893,706
4.35%, 08/15/21^(a)		2,836		2,922,036
4.45%, 12/05/29 (Call 12/05/28)^(a)(c)(d)		555		581,040
4.50%, 01/24/22^(a)		30,005		31,215,015
4.85%, 02/01/44^(a)		17,233		18,548,927
4.95%, 06/01/45^(a)		20,919		22,186,442
5.40%, 01/06/42		14,958		17,086,305
5.50%, 10/15/40^(a)		15,658		18,063,263
5.60%, 07/15/41		19,810		23,176,620
5.63%, 08/16/43^(a)		17,916		20,527,436
6.40%, 05/15/38		31,820		39,924,681
KeyBank N.A./Cleveland OH
2.30%, 09/14/22^(a)		9,955		9,682,358
3.30%, 06/01/25		7,046		7,006,024
KeyCorp., 4.10%, 04/30/28^(a)		2,695		2,739,413
Lloyds Banking Group PLC
2.91%, 11/07/23 (Call 11/07/22)^(c)(d)		39,028		37,781,262
3.57%, 11/07/28 (Call 11/07/27)^(a)(c)(d)		20,529		19,299,705


Security	Par (000)		Value

Banks (continued)
3.75%, 01/11/27^(a)	$	12,059	$	11,636,596
4.05%, 08/16/23^(a)		24,035		24,271,939
4.34%, 01/09/48		18,666		15,967,087
4.38%, 03/22/28^(a)		18,517		18,531,990
4.45%, 05/08/25		24,795		25,348,650
4.50%, 11/04/24^(a)		13,888		13,870,616
4.55%, 08/16/28^(a)		15,780		15,998,925
4.58%, 12/10/25^(a)		18,948		18,698,586
4.65%, 03/24/26^(a)		16,255		16,006,573
5.30%, 12/01/45^(a)		3,746		3,713,927
M&T Bank Corp., 3.55%, 07/26/23 (Call 06/26/23)		2,505		2,544,663
Manufacturers & Traders Trust Co., 2.90%, 02/06/25 (Call 01/06/25)^(a)		2,316		2,267,523
Mitsubishi UFJ Financial Group Inc.
2.67%, 07/25/22^(a)		24,885		24,397,672
2.76%, 09/13/26^(a)		17,050		16,053,496
3.00%, 02/22/22^(a)		5,495		5,461,979
3.29%, 07/25/27		19,481		18,969,045
3.41%, 03/07/24		10,000		9,986,800
3.46%, 03/02/23		16,504		16,529,337
3.68%, 02/22/27^(a)		17,756		17,789,884
3.74%, 03/07/29		5,000		5,004,400
3.76%, 07/26/23^(a)		21,575		21,894,327
3.78%, 03/02/25		5,962		6,043,294
3.85%, 03/01/26		28,055		28,580,770
3.96%, 03/02/28		9,485		9,684,714
4.05%, 09/11/28^(a)		10,700		11,018,823
Mizuho Financial Group Inc.
2.27%, 09/13/21^(a)		2,814		2,738,435
2.60%, 09/11/22		8,802		8,563,840
2.84%, 09/13/26^(a)		13,729		13,002,056
2.95%, 02/28/22		18,020		17,837,924
3.17%, 09/11/27		20,806		20,103,325
3.55%, 03/05/23^(a)		7,085		7,116,184
3.92%, 09/11/24 (Call 09/11/23)^(c)(d)		14,639		14,896,477
4.02%, 03/05/28^(a)		12,323		12,638,712
4.25%, 09/11/29 (Call 09/11/28)^(a)(c)(d)		16,309		16,826,428
Morgan Stanley
2.63%, 11/17/21		25,643		25,286,947
2.75%, 05/19/22^(a)		16,829		16,602,950
3.13%, 01/23/23^(a)		34,047		33,814,742
3.13%, 07/27/26		38,667		36,856,375
3.59%, 07/22/28 (Call 07/22/27)^(c)(d)		39,155		38,092,357
3.63%, 01/20/27		36,568		35,979,347
3.70%, 10/23/24		34,465		34,631,942
3.74%, 04/24/24 (Call 04/24/23)^(a)(c)(d)		36,459		36,692,877
3.75%, 02/25/23		28,668		29,115,146
3.77%, 01/24/29 (Call 01/24/28)^(a)(c)(d)		32,673		32,151,559
3.88%, 01/27/26^(a)		41,120		41,274,040
3.95%, 04/23/27		25,159		24,576,164
3.97%, 07/22/38 (Call 07/22/37)^(a)(c)(d)		20,931		19,883,717
4.00%, 07/23/25		31,332		31,860,608
4.10%, 05/22/23^(a)		20,766		21,109,590
4.30%, 01/27/45		24,368		23,836,960
4.35%, 09/08/26^(a)		29,965		30,104,955
4.38%, 01/22/47^(a)		27,833		27,646,686
4.43%, 01/23/30 (Call 01/23/29)^(c)(d)		22,239		22,956,157
4.46%, 04/22/39 (Call 04/22/38)^(c)(d)		18,738		18,864,676
4.88%, 11/01/22^(a)		21,398		22,410,853
5.00%, 11/24/25^(a)		12,333		12,959,430


Security	Par (000)		Value

Banks (continued)
6.38%, 07/24/42	$	24,992	$	31,383,404
7.25%, 04/01/32		12,795		16,575,792
Series F, 3.88%, 04/29/24		35,616		36,146,443
National Australia Bank Ltd./New York
2.50%, 05/22/22^(a)		12,479		12,210,418
2.50%, 07/12/26		16,026		14,767,680
2.80%, 01/10/22		11,098		10,997,906
3.00%, 01/20/23^(a)		14,116		13,967,710
3.38%, 01/14/26^(a)		5,063		4,980,622
3.63%, 06/20/23^(a)		11,060		11,189,335
Northern Trust Corp., 3.95%, 10/30/25^(a)		16,606		17,238,938
PNC Bank N.A.
2.45%, 07/28/22 (Call 06/28/22)^(a)		1,367		1,340,971
2.55%, 12/09/21 (Call 11/09/21)		7,262		7,166,354
2.63%, 02/17/22 (Call 01/18/22)^(a)		20,147		20,011,344
2.70%, 11/01/22 (Call 10/01/22)^(a)		7,819		7,656,330
2.95%, 01/30/23 (Call 12/30/22)^(a)		2,273		2,242,407
2.95%, 02/23/25 (Call 01/24/25)		7,737		7,584,453
3.10%, 10/25/27 (Call 09/25/27)		23,787		23,151,485
3.25%, 06/01/25 (Call 05/02/25)		17,433		17,354,872
3.50%, 06/08/23 (Call 05/09/23)		13,245		13,397,894
3.80%, 07/25/23 (Call 06/25/23)		7,459		7,575,589
4.05%, 07/26/28^(a)		16,680		17,150,775
PNC Financial Services Group Inc. (The)
3.15%, 05/19/27 (Call 04/19/27)		3,083		3,017,819
3.30%, 03/08/22 (Call 02/06/22)^(a)		10,626		10,696,619
3.50%, 01/23/24 (Call 12/23/23)^(a)		768		773,337
3.90%, 04/29/24 (Call 03/29/24)^(a)		3,045		3,098,300
Regions Financial Corp.
2.75%, 08/14/22 (Call 07/14/22)^(a)		18,335		17,962,757
3.80%, 08/14/23 (Call 07/14/23)		25		25,267
Royal Bank of Canada
2.75%, 02/01/22^(a)		8,674		8,649,298
3.70%, 10/05/23^(a)		20,401		20,733,155
4.65%, 01/27/26^(a)		11,779		12,332,204
Royal Bank of Scotland Group PLC
3.50%, 05/15/23 (Call 05/15/22)^(a)(c)(d)		20,831		20,546,032
3.88%, 09/12/23^(a)		26,912		26,672,943
4.52%, 06/25/24 (Call 06/25/23)^(c)(d)		9,412		9,481,679
4.80%, 04/05/26^(a)		23,724		24,072,090
4.89%, 05/18/29 (Call 05/18/28)^(a)(c)(d)		31,242		31,602,120
5.08%, 01/27/30 (Call 01/27/29)^(a)(c)(d)		12,572		12,889,039
5.13%, 05/28/24		22,923		23,215,119
6.00%, 12/19/23^(a)		19,225		20,194,882
6.10%, 06/10/23		17,821		18,703,075
6.13%, 12/15/22		34,115		35,986,017
Santander Holdings USA Inc.
3.40%, 01/18/23 (Call 12/18/22)^(a)		3,313		3,251,936
3.70%, 03/28/22 (Call 02/28/22)^(a)		13,847		13,854,256
4.40%, 07/13/27 (Call 04/14/27)^(a)		20,704		20,217,394
4.50%, 07/17/25 (Call 04/17/25)^(a)		11,873		12,050,378
Santander UK Group Holdings PLC
3.37%, 01/05/24 (Call 01/05/23)^(c)(d)		12,807		12,417,726
3.57%, 01/10/23 (Call 01/10/22)^(a)		16,321		16,093,160
3.82%, 11/03/28 (Call 11/03/27)^(c)(d)		12,749		12,003,881
4.80%, 11/15/24 (Call 11/15/23)^(c)(d)		8,748		8,914,858
Santander UK PLC, 4.00%, 03/13/24^(a)		15,660		16,229,338
State Street Corp.
2.65%, 05/19/26^(a)		10,619		10,143,214
3.10%, 05/15/23		11,110		11,049,776


Security	Par (000)		Value

Banks (continued)
3.30%, 12/16/24^(a)	$	11,522	$	11,664,329
3.55%, 08/18/25^(a)		10,450		10,700,879
3.70%, 11/20/23^(a)		2,883		2,944,313
Sumitomo Mitsui Banking Corp., 3.20%, 07/18/22		4,768		4,752,181
Sumitomo Mitsui Financial Group Inc.
2.44%, 10/19/21^(a)		2,349		2,303,476
2.63%, 07/14/26^(a)		27,672		25,944,163
2.78%, 07/12/22		20,887		20,578,537
2.78%, 10/18/22^(a)		18,933		18,608,185
2.85%, 01/11/22		3,688		3,650,805
3.01%, 10/19/26^(a)		14,505		13,903,306
3.10%, 01/17/23^(a)		21,218		21,039,016
3.35%, 10/18/27^(a)		6,408		6,263,717
3.36%, 07/12/27		21,132		20,725,989
3.45%, 01/11/27^(a)		18,239		17,988,436
3.54%, 01/17/28		15,580		15,442,358
3.75%, 07/19/23		5,350		5,416,244
3.78%, 03/09/26		20,702		20,924,621
3.94%, 10/16/23		750		766,988
4.31%, 10/16/28^(a)		1,640		1,725,720
SunTrust Bank/Atlanta GA
2.45%, 08/01/22 (Call 07/01/22)		12,318		12,068,184
3.30%, 05/15/26 (Call 04/15/26)		10,408		10,118,928
SunTrust Banks Inc.
2.70%, 01/27/22 (Call 12/27/21)^(a)		7,435		7,352,871
4.00%, 05/01/25 (Call 03/01/25)		11,294		11,660,551
Synchrony Bank, 3.00%, 06/15/22 (Call 05/15/22)		9,509		9,211,140
Toronto-Dominion Bank (The)
1.80%, 07/13/21^(a)		8,387		8,163,387
3.50%, 07/19/23^(a)		5,845		5,939,819
U.S. Bancorp.
2.95%, 07/15/22 (Call 06/15/22)^(a)		18,836		18,721,210
3.00%, 03/15/22 (Call 02/15/22)^(a)		6,533		6,536,997
3.10%, 04/27/26 (Call 03/27/26)^(a)		10,768		10,526,661
3.60%, 09/11/24 (Call 08/11/24)		10,532		10,690,931
3.70%, 01/30/24 (Call 12/29/23)^(a)		5,253		5,404,993
3.90%, 04/26/28 (Call 03/24/28)^(a)		9,955		10,362,694
3.95%, 11/17/25 (Call 10/17/25)		2,885		3,001,224
Series V, 2.38%, 07/22/26 (Call 06/22/26)		15,405		14,462,114
Series V, 2.63%, 01/24/22 (Call 12/23/21)^(a)		12,027		11,948,710
Series X, 3.15%, 04/27/27 (Call 03/27/27)^(a)		20,712		20,395,413
U.S. Bank N.A./Cincinnati OH
2.80%, 01/27/25 (Call 12/27/24)^(a)		10,879		10,629,059
2.85%, 01/23/23 (Call 12/23/22)^(a)		16,294		16,188,785
3.40%, 07/24/23 (Call 06/23/23)^(a)		6,395		6,459,247
Wachovia Corp., 5.50%, 08/01/35		11,542		12,753,329
Wells Fargo & Co.
2.63%, 07/22/22^(a)		42,448		41,669,707
3.00%, 02/19/25		27,743		26,994,721
3.00%, 04/22/26		45,215		43,274,729
3.00%, 10/23/26^(a)		47,318		45,105,349
3.07%, 01/24/23 (Call 01/24/22)^(a)		49,898		49,575,454
3.30%, 09/09/24^(a)		28,564		28,399,197
3.50%, 03/08/22^(a)		23,887		24,114,524
3.55%, 09/29/25		31,407		31,389,742
3.58%, 05/22/28 (Call 05/22/27)^(a)(c)(d)		34,383		33,976,249
3.75%, 01/24/24 (Call 12/24/23)		28,957		29,440,686
3.90%, 05/01/45^(a)		20,014		19,220,661
4.10%, 06/03/26^(a)		30,387		30,625,650
4.13%, 08/15/23^(a)		8,454		8,635,701


Security	Par (000)		Value

Banks (continued)
4.15%, 01/24/29 (Call 10/24/28)^(a)	$	23,052	$	23,583,554
4.30%, 07/22/27^(a)		23,205		23,592,366
4.40%, 06/14/46^(a)		20,920		20,075,453
4.65%, 11/04/44^(a)		21,932		21,821,215
4.75%, 12/07/46^(a)		29,460		29,730,785
4.90%, 11/17/45		24,598		25,323,061
5.38%, 02/07/35		4,124		4,701,719
5.38%, 11/02/43^(a)		27,416		29,891,023
5.61%, 01/15/44		29,083		32,666,593
Series M, 3.45%, 02/13/23^(a)		32,611		32,662,780
Wells Fargo Bank N.A.
3.55%, 08/14/23 (Call 07/14/23)		15,270		15,471,996
5.85%, 02/01/37^(a)		9,756		11,424,101
6.60%, 01/15/38^(a)		21,143		26,937,326
Westpac Banking Corp.
2.00%, 08/19/21^(a)		2,191		2,134,462
2.50%, 06/28/22^(a)		7,729		7,569,051
2.70%, 08/19/26		12,530		11,787,704
2.75%, 01/11/23^(a)		3,833		3,765,612
2.80%, 01/11/22^(a)		10,847		10,771,484
2.85%, 05/13/26^(a)		25,779		24,535,627
3.30%, 02/26/24^(e)		11,370		11,327,065
3.35%, 03/08/27^(a)		19,137		18,770,274
3.40%, 01/25/28^(a)		13,270		13,076,972
3.65%, 05/15/23		6,583		6,674,950

				8,289,500,622

Beverages — 3.2%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
3.65%, 02/01/26 (Call 11/01/25)^(b)		63,698		63,255,668
4.70%, 02/01/36 (Call 08/01/35)^(a)(b)		63,786		61,588,528
4.90%, 02/01/46 (Call 08/01/45)^(b)		120,773		115,653,191
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23		1		491
3.30%, 02/01/23 (Call 12/01/22)		71,215		71,848,457
3.70%, 02/01/24		8,098		8,258,081
4.00%, 01/17/43^(a)		4,887		4,115,915
4.63%, 02/01/44		10,541		9,643,511
4.90%, 02/01/46 (Call 08/01/45)^(a)		3,125		2,996,525
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42^(a)		5,755		4,732,797
4.00%, 04/13/28 (Call 01/13/28)^(a)		36,677		36,449,207
4.15%, 01/23/25 (Call 12/23/24)^(a)		28,410		29,338,842
4.38%, 04/15/38 (Call 10/15/37)^(a)		18,464		16,998,795
4.44%, 10/06/48 (Call 04/06/48)		21,770		19,536,217
4.60%, 04/15/48 (Call 10/15/47)^(a)		27,496		25,269,968
4.75%, 01/23/29 (Call 10/23/28)^(a)		35,285		36,840,571
4.75%, 04/15/58 (Call 10/15/57)^(a)		18,688		16,917,949
4.90%, 01/23/31 (Call 10/23/30)^(a)		10,250		10,737,730
4.95%, 01/15/42		14,319		14,023,705
5.45%, 01/23/39 (Call 07/23/38)		30,000		31,449,027
5.55%, 01/23/49 (Call 07/23/48)		47,215		49,541,378
5.80%, 01/23/59 (Call 07/23/58)		30,407		32,316,186
8.20%, 01/15/39^(a)		7,199		9,583,513
Coca-Cola Co. (The)
1.55%, 09/01/21^(a)		1,749		1,700,910
2.25%, 09/01/26^(a)		14,609		13,554,574
2.50%, 04/01/23^(a)		10,084		10,002,167
2.88%, 10/27/25^(a)		20,790		20,566,449
3.20%, 11/01/23^(a)		16,713		17,019,759


Security	Par (000)		Value

Beverages (continued)
3.30%, 09/01/21^(a)	$	1,940	$	1,967,291
Constellation Brands Inc., 4.25%, 05/01/23^(a)		15,889		16,360,191
Diageo Capital PLC, 2.63%, 04/29/23 (Call 01/29/23)		20,175		19,877,403
Diageo Investment Corp., 2.88%, 05/11/22^(a)		6,281		6,274,287
Keurig Dr Pepper Inc.
4.06%, 05/25/23 (Call 04/25/23)^(a)(b)		17,868		18,070,507
4.42%, 05/25/25 (Call 03/25/25)^(b)		6,583		6,695,763
4.60%, 05/25/28 (Call 02/25/28)^(a)(b)		32,189		32,425,634
5.09%, 05/25/48 (Call 11/25/47)^(a)(b)		14,597		14,176,379
Molson Coors Brewing Co.
2.10%, 07/15/21 (Call 06/15/21)^(a)		3,861		3,756,563
3.00%, 07/15/26 (Call 04/15/26)^(a)		10,086		9,271,494
4.20%, 07/15/46 (Call 01/15/46)^(a)		23,327		19,736,823
5.00%, 05/01/42^(a)		13,907		13,238,855
PepsiCo Inc.
1.70%, 10/06/21 (Call 09/06/21)^(a)		2,253		2,191,595
2.25%, 05/02/22 (Call 04/02/22)		10,863		10,695,081
2.38%, 10/06/26 (Call 07/06/26)		13,619		12,745,931
2.75%, 03/05/22^(a)		2,417		2,417,765
2.75%, 03/01/23^(a)		6,883		6,872,962
2.75%, 04/30/25 (Call 01/30/25)^(a)		9,389		9,245,520
2.85%, 02/24/26 (Call 11/24/25)^(a)		4,621		4,496,308
3.00%, 08/25/21^(a)		2,803		2,821,056
3.00%, 10/15/27 (Call 07/15/27)		7,273		7,059,905
3.10%, 07/17/22 (Call 05/17/22)		12,167		12,294,155
3.45%, 10/06/46 (Call 04/06/46)^(a)		18,889		17,228,428
3.60%, 03/01/24 (Call 12/01/23)^(a)		17,629		18,185,154
4.00%, 03/05/42^(a)		11,489		11,479,383
4.00%, 05/02/47 (Call 11/02/46)^(a)		12,537		12,463,865
4.45%, 04/14/46 (Call 10/14/45)^(a)		20,508		21,893,424

				1,047,881,833

Biotechnology — 2.0%
Amgen Inc.
2.25%, 08/19/23 (Call 06/19/23)^(a)		3,348		3,221,343
2.60%, 08/19/26 (Call 05/19/26)^(a)		16,517		15,306,104
2.65%, 05/11/22 (Call 04/11/22)^(a)		14,150		13,940,110
3.13%, 05/01/25 (Call 02/01/25)^(a)		14,496		14,183,610
3.20%, 11/02/27 (Call 08/02/27)^(a)		13,029		12,441,150
3.63%, 05/15/22 (Call 02/15/22)		5,606		5,682,862
3.63%, 05/22/24 (Call 02/22/24)^(a)		20,232		20,506,690
4.40%, 05/01/45 (Call 11/01/44)		29,127		27,244,991
4.56%, 06/15/48 (Call 12/15/47)^(a)		19,235		18,299,400
4.66%, 06/15/51 (Call 12/15/50)^(a)		37,881		36,362,389
5.15%, 11/15/41 (Call 05/15/41)		15,654		16,212,890
Baxalta Inc., 4.00%, 06/23/25 (Call 03/23/25)		16,477		16,420,500
Biogen Inc.
3.63%, 09/15/22^(a)		12,478		12,655,186
4.05%, 09/15/25 (Call 06/15/25)		18,313		18,617,549
5.20%, 09/15/45 (Call 03/15/45)		16,890		17,635,937
Celgene Corp.
2.75%, 02/15/23 (Call 01/15/23)		12,725		12,411,058
3.25%, 08/15/22		8,974		8,935,082
3.25%, 02/20/23 (Call 01/20/23)		9,255		9,185,774
3.45%, 11/15/27 (Call 08/15/27)		15,218		14,439,354
3.55%, 08/15/22		11,379		11,434,454
3.63%, 05/15/24 (Call 02/15/24)^(a)		13,277		13,246,236
3.88%, 08/15/25 (Call 05/15/25)		37,982		38,065,158
3.90%, 02/20/28 (Call 11/20/27)^(a)		17,100		16,763,956
4.35%, 11/15/47 (Call 05/15/47)^(a)		14,908		13,375,458
4.55%, 02/20/48 (Call 08/20/47)^(a)		17,895		16,575,637


Security	Par (000)		Value

Biotechnology (continued)
4.63%, 05/15/44 (Call 11/15/43)^(a)	$	6,262	$	5,846,447
5.00%, 08/15/45 (Call 02/15/45)		23,217		22,857,740
Gilead Sciences Inc.
2.50%, 09/01/23 (Call 07/01/23)		3,705		3,582,934
2.95%, 03/01/27 (Call 12/01/26)		8,619		8,157,504
3.25%, 09/01/22 (Call 07/01/22)		12,803		12,870,796
3.50%, 02/01/25 (Call 11/01/24)^(a)		14,903		14,894,942
3.65%, 03/01/26 (Call 12/01/25)^(a)		34,619		34,472,354
3.70%, 04/01/24 (Call 01/01/24)		27,636		28,117,286
4.00%, 09/01/36 (Call 03/01/36)^(a)		13,347		12,379,759
4.15%, 03/01/47 (Call 09/01/46)^(a)		17,183		15,721,985
4.40%, 12/01/21 (Call 09/01/21)^(a)		4,703		4,862,667
4.50%, 02/01/45 (Call 08/01/44)^(a)		25,776		24,936,311
4.60%, 09/01/35 (Call 03/01/35)		13,501		13,467,230
4.75%, 03/01/46 (Call 09/01/45)^(a)		18,551		18,615,665
4.80%, 04/01/44 (Call 10/01/43)		21,671		21,813,415
5.65%, 12/01/41 (Call 06/01/41)^(a)		14,978		16,650,451

				662,410,364

Chemicals — 1.2%
Dow Chemical Co. (The)
3.00%, 11/15/22 (Call 08/15/22)^(a)		20,461		20,336,935
3.50%, 10/01/24 (Call 07/01/24)^(a)		10,093		9,995,499
4.13%, 11/15/21 (Call 08/15/21)^(a)		5,029		5,143,574
4.38%, 11/15/42 (Call 05/15/42)^(a)		12,745		11,435,240
5.25%, 11/15/41 (Call 05/15/41)^(a)		12,540		12,601,188
7.38%, 11/01/29^(a)		13,301		16,355,886
9.40%, 05/15/39^(a)		11,283		16,479,192
DowDuPont Inc.
4.21%, 11/15/23 (Call 10/15/23)		26,655		27,502,704
4.49%, 11/15/25 (Call 09/15/25)		27,538		28,749,201
4.73%, 11/15/28 (Call 08/15/28)^(a)		29,325		30,644,766
5.32%, 11/15/38 (Call 05/15/38)		20,315		21,456,920
5.42%, 11/15/48 (Call 05/15/48)^(a)		26,728		28,507,601
Eastman Chemical Co.
3.60%, 08/15/22 (Call 05/15/22)^(a)		14,777		14,887,816
3.80%, 03/15/25 (Call 12/15/24)^(a)		645		640,920
4.65%, 10/15/44 (Call 04/15/44)^(a)		6,669		6,166,915
LYB International Finance BV
4.00%, 07/15/23^(a)		12,300		12,395,170
4.88%, 03/15/44 (Call 09/15/43)^(a)		10,426		9,786,058
5.25%, 07/15/43		12,227		11,961,389
LYB International Finance II BV, 3.50%, 03/02/27 (Call 12/02/26)^(a)		5,497		5,132,289
LyondellBasell Industries NV
4.63%, 02/26/55 (Call 08/26/54)^(a)		10,719		9,186,995
5.75%, 04/15/24 (Call 01/15/24)		13,274		14,229,316
6.00%, 11/15/21 (Call 08/17/21)		2,902		3,069,162
Mosaic Co. (The), 4.25%, 11/15/23 (Call 08/15/23)^(a)		13,403		13,763,712
Rohm & Haas Co., 7.85%, 07/15/29^(a)		12,223		15,256,619
Sherwin-Williams Co. (The)
2.75%, 06/01/22 (Call 05/01/22)^(a)		6,667		6,557,258
3.45%, 06/01/27 (Call 03/01/27)^(a)		26,638		25,344,888
4.50%, 06/01/47 (Call 12/01/46)^(a)		7,726		7,199,353

				384,786,566

Commercial Services — 0.2%
Automatic Data Processing Inc., 3.38%, 09/15/25 (Call 06/15/25)^(a)		15,797		16,094,715


Security	Par (000)		Value

Commercial Services (continued)
Ecolab Inc.
2.70%, 11/01/26 (Call 08/01/26)	$	11,712	$	11,104,725
3.95%, 12/01/47 (Call 06/01/47)		301		292,437
4.35%, 12/08/21^(a)		5,586		5,786,422
5.50%, 12/08/41^(a)		703		817,680
IHS Markit Ltd., 4.75%, 08/01/28 (Call 05/01/28)		1,155		1,164,185
S&P Global Inc., 4.40%, 02/15/26 (Call 11/15/25)		15,518		16,198,317
Total System Services Inc., 4.80%, 04/01/26 (Call 01/01/26)^(a)		4,094		4,195,579

				55,654,060

Computers — 3.1%
Apple Inc.
1.55%, 08/04/21 (Call 07/04/21)^(a)		2,980		2,897,168
2.10%, 09/12/22 (Call 08/12/22)		5,681		5,552,361
2.15%, 02/09/22		13,633		13,414,636
2.30%, 05/11/22 (Call 04/11/22)		13,309		13,111,600
2.40%, 01/13/23 (Call 12/13/22)^(a)		3,959		3,894,779
2.40%, 05/03/23^(a)		62,905		61,699,935
2.45%, 08/04/26 (Call 05/04/26)		27,029		25,602,493
2.50%, 02/09/22 (Call 01/09/22)		7,048		7,003,491
2.50%, 02/09/25^(a)		18,975		18,361,612
2.70%, 05/13/22^(a)		15,241		15,198,456
2.75%, 01/13/25 (Call 11/13/24)		16,901		16,588,200
2.85%, 02/23/23 (Call 12/23/22)^(a)		18,593		18,595,534
2.85%, 05/11/24 (Call 03/11/24)^(a)		17,419		17,296,935
2.90%, 09/12/27 (Call 06/12/27)^(a)		24,510		23,658,224
3.00%, 02/09/24 (Call 12/09/23)		26,084		26,100,143
3.00%, 06/20/27 (Call 03/20/27)^(a)		9,196		8,957,896
3.00%, 11/13/27 (Call 08/13/27)		10,849		10,541,865
3.20%, 05/13/25^(a)		24,114		24,207,507
3.20%, 05/11/27 (Call 02/11/27)^(a)		17,862		17,639,984
3.25%, 02/23/26 (Call 11/23/25)^(a)		32,120		32,139,796
3.35%, 02/09/27 (Call 11/09/26)^(a)		20,326		20,298,316
3.45%, 05/06/24^(a)		29,089		29,708,052
3.45%, 02/09/45		17,844		16,111,058
3.75%, 09/12/47 (Call 03/12/47)		20,911		19,749,800
3.75%, 11/13/47 (Call 05/13/47)^(a)		12,845		12,142,769
3.85%, 05/04/43		38,318		37,039,049
3.85%, 08/04/46 (Call 02/04/46)		20,507		19,727,164
4.25%, 02/09/47 (Call 08/09/46)^(a)		17,847		18,231,713
4.38%, 05/13/45		26,109		27,044,984
4.45%, 05/06/44		14,428		15,147,979
4.50%, 02/23/36 (Call 08/23/35)^(a)		20,874		22,404,492
4.65%, 02/23/46 (Call 08/23/45)^(a)		49,001		52,628,897
Dell International LLC/EMC Corp.
4.42%, 06/15/21 (Call 05/15/21)^(b)		3,199		3,249,978
5.45%, 06/15/23 (Call 04/15/23)^(a)(b)		31,194		32,775,470
6.02%, 06/15/26 (Call 03/15/26)^(a)(b)		62,066		65,831,668
8.10%, 07/15/36 (Call 01/15/36)^(a)(b)		20,765		23,744,402
8.35%, 07/15/46 (Call 01/15/46)^(b)		22,504		26,312,746
Hewlett Packard Enterprise Co.
4.40%, 10/15/22 (Call 08/15/22)		17,643		18,270,584
4.90%, 10/15/25 (Call 07/15/25)^(a)		34,092		35,452,053
6.20%, 10/15/35 (Call 04/15/35)^(a)		4,659		4,798,945
6.35%, 10/15/45 (Call 04/15/45)		15,922		16,091,388
HP Inc., 6.00%, 09/15/41^(a)		12,434		12,620,013
IBM Credit LLC, 3.00%, 02/06/23^(a)		12,521		12,462,375
International Business Machines Corp.
1.88%, 08/01/22^(a)		12,834		12,348,524
2.88%, 11/09/22^(a)		10,737		10,660,097


Security	Par (000)		Value

Computers (continued)
3.38%, 08/01/23^(a)	$	16,857	$	16,980,415
3.45%, 02/19/26^(a)		15,271		15,281,568
3.63%, 02/12/24^(a)		20,897		21,254,880
4.00%, 06/20/42^(a)		16,175		15,359,985
Seagate HDD Cayman
4.25%, 03/01/22 (Call 02/01/22)		2,608		2,602,703
4.75%, 06/01/23^(a)		12,123		12,158,394
4.75%, 01/01/25^(a)		14,072		13,544,300

				1,024,497,376

Cosmetics & Personal Care — 0.4%
Procter & Gamble Co. (The)
1.70%, 11/03/21^(a)		3,759		3,667,574
2.15%, 08/11/22^(a)		13,069		12,829,526
2.30%, 02/06/22^(a)		10,101		9,996,462
2.45%, 11/03/26^(a)		4,069		3,873,025
2.85%, 08/11/27^(a)		12,936		12,633,789
3.10%, 08/15/23^(a)		15,516		15,773,455
5.55%, 03/05/37		765		946,257
Unilever Capital Corp.
2.20%, 05/05/22 (Call 04/05/22)^(a)		3,494		3,420,010
2.90%, 05/05/27 (Call 02/05/27)^(a)		16,869		16,229,321
3.50%, 03/22/28 (Call 12/22/27)^(a)		16,739		16,823,252
5.90%, 11/15/32^(a)		19,505		23,838,391

				120,031,062

Diversified Financial Services — 3.1%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.50%, 01/15/25 (Call 11/15/24)^(a)		8,199		7,733,162
3.65%, 07/21/27 (Call 04/21/27)		16,822		15,172,161
3.95%, 02/01/22 (Call 01/01/22)^(a)		1,450		1,454,224
5.00%, 10/01/21		4,451		4,572,079
Air Lease Corp., 3.00%, 09/15/23 (Call 07/15/23)^(a)		11,298		10,807,435
American Express Co.
2.50%, 08/01/22 (Call 07/01/22)^(a)		24,456		23,956,670
2.65%, 12/02/22^(a)		20,654		20,325,331
3.00%, 10/30/24 (Call 09/29/24)^(a)		31,394		30,701,247
3.40%, 02/27/23 (Call 01/27/23)^(a)		13,147		13,220,923
3.40%, 02/22/24 (Call 01/22/24)		12,335		12,368,010
3.70%, 08/03/23 (Call 07/03/23)^(a)		10,013		10,195,798
4.05%, 12/03/42		14,164		13,930,399
4.20%, 11/06/25 (Call 10/06/25)^(a)		12,599		13,085,024
American Express Credit Corp.
2.70%, 03/03/22 (Call 01/31/22)^(a)		15,221		15,129,590
3.30%, 05/03/27 (Call 04/03/27)^(a)		28,006		27,749,118
Ameriprise Financial Inc., 4.00%, 10/15/23^(a)		11,012		11,322,712
Brookfield Finance Inc., 4.70%, 09/20/47 (Call 03/20/47)		18,615		16,919,978
Brookfield Finance LLC, 4.00%, 04/01/24 (Call 02/01/24)^(a)		14,315		14,306,802
Capital One Bank USA N.A., 3.38%, 02/15/23^(a)		19,097		18,808,696
Capital One Financial Corp.
3.05%, 03/09/22 (Call 02/09/22)^(a)		3,822		3,793,958
3.20%, 01/30/23 (Call 12/30/22)		26,720		26,333,188
3.20%, 02/05/25 (Call 01/05/25)^(a)		6,607		6,342,084
3.30%, 10/30/24 (Call 09/30/24)		18,080		17,481,436
3.50%, 06/15/23^(a)		7,443		7,375,673
3.75%, 04/24/24 (Call 03/24/24)^(a)		3,725		3,723,427
3.75%, 07/28/26 (Call 06/28/26)^(a)		27,372		26,014,305
3.75%, 03/09/27 (Call 02/09/27)^(a)		30,326		29,121,739


Security	Par (000)		Value

Diversified Financial Services (continued)
3.80%, 01/31/28 (Call 12/31/27)^(a)	$	12,581	$	12,059,567
3.90%, 01/29/24 (Call 12/29/23)^(a)		4,295		4,323,620
4.20%, 10/29/25 (Call 09/29/25)^(a)		20,973		20,941,459
4.25%, 04/30/25 (Call 03/31/25)^(a)		7,432		7,531,890
Charles Schwab Corp. (The)
2.65%, 01/25/23 (Call 12/25/22)^(a)		5,916		5,837,055
3.85%, 05/21/25 (Call 03/21/25)^(a)		18,348		18,880,624
CME Group Inc.
3.00%, 09/15/22		4,450		4,459,400
3.00%, 03/15/25 (Call 12/15/24)^(a)		8,844		8,734,825
5.30%, 09/15/43 (Call 03/15/43)^(a)		11,298		13,449,389
Discover Financial Services, 4.10%, 02/09/27 (Call 11/09/26)^(a)		18,552		17,981,815
GE Capital International Funding Co. Unlimited Co.
3.37%, 11/15/25^(a)		19,093		18,374,217
4.42%, 11/15/35		133,771		120,728,608
Intercontinental Exchange Inc.
3.75%, 12/01/25 (Call 09/01/25)		16,987		17,373,634
3.75%, 09/21/28 (Call 06/21/28)		2,090		2,119,570
4.00%, 10/15/23^(a)		6,497		6,724,188
4.25%, 09/21/48 (Call 03/21/48)		13,244		13,413,087
International Lease Finance Corp., 5.88%, 08/15/22^(a)		8,034		8,476,804
Jefferies Financial Group Inc., 5.50%, 10/18/23 (Call 01/18/23)^(a)		5,606		5,836,210
Jefferies Group LLC/Jefferies Group Capital Finance Inc.
4.15%, 01/23/30		5,371		4,711,696
4.85%, 01/15/27		17,137		16,665,340
Mastercard Inc.
2.95%, 11/21/26 (Call 08/21/26)^(a)		13,512		13,243,054
3.38%, 04/01/24^(a)		17,914		18,291,534
ORIX Corp., 2.90%, 07/18/22^(a)		1,656		1,632,362
Synchrony Financial
3.70%, 08/04/26 (Call 05/04/26)		329		299,901
3.75%, 08/15/21 (Call 06/15/21)^(a)		1,610		1,613,526
3.95%, 12/01/27 (Call 09/01/27)		29,312		26,844,598
4.25%, 08/15/24 (Call 05/15/24)^(a)		4,696		4,593,430
4.50%, 07/23/25 (Call 04/23/25)^(a)		9,541		9,340,035
TD Ameritrade Holding Corp.
2.95%, 04/01/22 (Call 02/01/22)		6,274		6,269,787
3.30%, 04/01/27 (Call 01/01/27)		10,696		10,443,355
Visa Inc.
2.15%, 09/15/22 (Call 08/15/22)^(a)		14,676		14,362,032
2.75%, 09/15/27 (Call 06/15/27)^(a)		4,153		3,998,785
2.80%, 12/14/22 (Call 10/14/22)^(a)		18,535		18,508,866
3.15%, 12/14/25 (Call 09/14/25)		44,221		44,315,708
3.65%, 09/15/47 (Call 03/15/47)^(a)		19,145		18,160,838
4.15%, 12/14/35 (Call 06/14/35)		19,650		20,542,187
4.30%, 12/14/45 (Call 06/14/45)		47,670		49,959,843

				992,988,008

Electric — 1.7%
Berkshire Hathaway Energy Co.
3.80%, 07/15/48 (Call 01/15/48)^(a)		4,028		3,673,116
4.45%, 01/15/49 (Call 07/15/48)		15,764		15,854,187
4.50%, 02/01/45 (Call 08/01/44)^(a)		11,965		12,205,491
5.15%, 11/15/43 (Call 05/15/43)^(a)		11,671		12,842,528
6.13%, 04/01/36^(a)		19,520		23,667,908
Commonwealth Edison Co., 4.00%, 03/01/48 (Call 09/01/47)		1,395		1,362,747


Security	Par (000)		Value

Electric (continued)
Consolidated Edison Co. of New York Inc.
4.45%, 03/15/44 (Call 09/15/43)	$	15,161	$	15,398,987
4.63%, 12/01/54 (Call 06/01/54)^(a)		12,210		12,223,200
Dominion Energy Inc., 3.90%, 10/01/25 (Call 07/01/25)^(a)		17,739		17,845,583
Duke Energy Carolinas LLC
3.88%, 03/15/46 (Call 09/15/45)^(a)		597		572,660
5.30%, 02/15/40^(a)		4,091		4,730,130
Duke Energy Corp.
1.80%, 09/01/21 (Call 08/01/21)^(a)		3,872		3,748,677
2.65%, 09/01/26 (Call 06/01/26)^(a)		17,091		15,923,485
3.15%, 08/15/27 (Call 05/15/27)^(a)		3,188		3,047,353
3.75%, 04/15/24 (Call 01/15/24)^(a)		10,229		10,380,854
3.75%, 09/01/46 (Call 03/01/46)^(a)		30,477		27,299,349
Duke Energy Florida LLC, 6.40%, 06/15/38^(a)		7,465		9,566,760
Emera U.S. Finance LP
2.70%, 06/15/21 (Call 05/15/21)		277		272,029
3.55%, 06/15/26 (Call 03/15/26)^(a)		13,248		12,675,217
4.75%, 06/15/46 (Call 12/15/45)^(a)		5,950		5,816,040
Entergy Corp., 2.95%, 09/01/26 (Call 06/01/26)^(a)		12,376		11,586,739
Exelon Corp.
3.40%, 04/15/26 (Call 01/15/26)^(a)		4,542		4,403,336
3.50%, 06/01/22 (Call 05/01/22)		4,838		4,810,861
3.95%, 06/15/25 (Call 03/15/25)^(a)		15,713		15,778,199
4.45%, 04/15/46 (Call 10/15/45)^(a)		12,060		11,735,576
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)^(a)		14,055		13,897,349
6.25%, 10/01/39^(a)		15,785		16,723,060
FirstEnergy Corp.
Series B, 3.90%, 07/15/27 (Call 04/15/27)^(a)		18,554		18,347,240
Series B, 4.25%, 03/15/23 (Call 12/15/22)^(a)		10,984		11,228,257
Series C, 4.85%, 07/15/47 (Call 01/15/47)^(a)		6,585		6,777,202
Series C, 7.38%, 11/15/31^(a)		22,565		29,059,083
Florida Power & Light Co., 3.95%, 03/01/48 (Call 09/01/47)		1,275		1,265,124
Fortis Inc./Canada, 3.06%, 10/04/26 (Call 07/04/26)^(a)		13,446		12,533,105
Georgia Power Co., 4.30%, 03/15/42		12,737		12,013,666
MidAmerican Energy Co., 4.25%, 07/15/49 (Call 01/15/49)		855		875,980
NextEra Energy Capital Holdings Inc., 3.55%, 05/01/27 (Call 02/01/27)^(a)		18,662		18,181,638
Sempra Energy
2.90%, 02/01/23 (Call 01/01/23)		1,385		1,340,073
3.25%, 06/15/27 (Call 03/15/27)^(a)		14,173		13,203,144
3.40%, 02/01/28 (Call 11/01/27)^(a)		11,040		10,389,351
3.80%, 02/01/38 (Call 08/01/37)		13,739		12,095,653
4.00%, 02/01/48 (Call 08/01/47)^(a)		16,364		14,379,695
6.00%, 10/15/39		4,334		4,918,174
Southern California Edison Co.
4.00%, 04/01/47 (Call 10/01/46)^(a)		13,456		12,119,025
4.65%, 10/01/43 (Call 04/01/43)		9,573		9,429,405
Series C, 4.13%, 03/01/48 (Call 09/01/47)		10,635		9,794,819
Southern Co. (The)
2.95%, 07/01/23 (Call 05/01/23)^(a)		15,608		15,318,094
3.25%, 07/01/26 (Call 04/01/26)		26,892		25,609,122
4.40%, 07/01/46 (Call 01/01/46)		18,212		17,425,710
Virginia Electric & Power Co.
Series A, 3.15%, 01/15/26 (Call 10/15/25)		9,755		9,571,107
Series A, 3.50%, 03/15/27 (Call 12/15/26)^(a)		8,749		8,681,425

				562,597,513


Security	Par (000)		Value

Electronics — 0.1%
Fortive Corp., 3.15%, 06/15/26 (Call 03/15/26)	$	15,992	$	15,213,620
Honeywell International Inc.
1.85%, 11/01/21 (Call 10/01/21)^(a)		6,594		6,447,613
2.50%, 11/01/26 (Call 08/01/26)^(a)		16,304		15,570,439

				37,231,672

Environmental Control — 0.1%
Republic Services Inc.
3.55%, 06/01/22 (Call 03/01/22)^(a)		10,933		11,086,172
3.95%, 05/15/28 (Call 02/15/28)^(a)		11,234		11,494,020
Waste Management Inc.
3.15%, 11/15/27 (Call 08/15/27)^(a)		17,291		16,751,677
4.10%, 03/01/45 (Call 09/01/44)^(a)		4,962		4,829,225

				44,161,094

Food — 1.8%
Campbell Soup Co.
3.65%, 03/15/23 (Call 02/15/23)^(a)		11,886		11,795,921
3.95%, 03/15/25 (Call 01/15/25)^(a)		3,971		3,886,611
4.15%, 03/15/28 (Call 12/15/27)^(a)		14,512		13,881,471
4.80%, 03/15/48 (Call 09/15/47)		3,003		2,624,186
Conagra Brands Inc.
3.20%, 01/25/23 (Call 10/25/22)^(a)		10,578		10,374,586
4.30%, 05/01/24 (Call 04/01/24)^(a)		11,695		11,856,956
4.60%, 11/01/25 (Call 09/01/25)		13,069		13,268,629
4.85%, 11/01/28 (Call 08/01/28)^(a)		12,814		12,827,465
5.30%, 11/01/38 (Call 05/01/38)^(a)		16,312		15,496,085
5.40%, 11/01/48 (Call 05/01/48)^(a)		13,777		12,919,748
General Mills Inc.
3.15%, 12/15/21 (Call 09/15/21)^(a)		4,736		4,750,057
3.20%, 02/10/27 (Call 11/10/26)^(a)		9,917		9,291,734
3.70%, 10/17/23 (Call 09/17/23)^(a)		9,024		9,110,924
4.00%, 04/17/25 (Call 02/17/25)^(a)		5,713		5,770,313
4.20%, 04/17/28 (Call 01/17/28)^(a)		20,519		20,697,938
JM Smucker Co. (The)
3.50%, 10/15/21^(a)		3,371		3,395,150
3.50%, 03/15/25		14,195		13,930,380
Kellogg Co.
3.25%, 04/01/26^(a)		10,782		10,184,857
Series B, 7.45%, 04/01/31^(a)		1,687		2,121,929
Kraft Heinz Foods Co.
3.00%, 06/01/26 (Call 03/01/26)^(a)		23,937		22,096,898
3.50%, 06/06/22		23,047		22,980,491
3.50%, 07/15/22 (Call 05/15/22)^(a)		15,564		15,510,398
3.95%, 07/15/25 (Call 04/15/25)^(a)		29,244		28,906,741
4.00%, 06/15/23 (Call 05/15/23)^(a)		20,843		21,081,729
4.38%, 06/01/46 (Call 12/01/45)^(a)		33,593		27,848,913
4.63%, 01/30/29 (Call 10/30/28)^(a)		13,961		13,995,344
5.00%, 07/15/35 (Call 01/15/35)^(a)		17,337		16,494,970
5.00%, 06/04/42^(a)		22,990		20,846,895
5.20%, 07/15/45 (Call 01/15/45)		16,210		15,201,318
6.50%, 02/09/40^(a)		4,179		4,429,955
6.88%, 01/26/39^(a)		11,765		12,940,785
Kroger Co. (The)
2.65%, 10/15/26 (Call 07/15/26)^(a)		13,999		12,587,638
4.45%, 02/01/47 (Call 08/01/46)^(a)		12,416		10,932,603
McCormick & Co. Inc./MD
2.70%, 08/15/22 (Call 07/15/22)^(a)		4,707		4,600,252
3.40%, 08/15/27 (Call 05/15/27)		6,386		6,078,847
Mondelez International Inc., 3.63%, 05/07/23 (Call 04/07/23)		3,818		3,857,131


Security	Par (000)		Value

Food (continued)
Sysco Corp.
3.25%, 07/15/27 (Call 04/15/27)^(a)	$	10,234	$	9,803,071
3.30%, 07/15/26 (Call 04/15/26)		14,761		14,250,483
3.75%, 10/01/25 (Call 07/01/25)		10,199		10,247,400
Tyson Foods Inc.
3.55%, 06/02/27 (Call 03/02/27)^(a)		10,993		10,560,816
3.95%, 08/15/24 (Call 05/15/24)^(a)		17,264		17,388,833
4.00%, 03/01/26 (Call 01/01/26)^(a)		10,925		10,948,215
4.35%, 03/01/29 (Call 12/01/28)^(a)		15,510		15,609,673
4.50%, 06/15/22 (Call 03/15/22)^(a)		12,452		12,847,026
4.55%, 06/02/47 (Call 12/02/46)^(a)		8,933		7,972,978
5.10%, 09/28/48 (Call 03/28/48)		15,760		15,269,546

				573,473,889

Forest Products & Paper — 0.2%
International Paper Co.
3.00%, 02/15/27 (Call 11/15/26)^(a)		14,176		13,277,310
3.65%, 06/15/24 (Call 03/15/24)^(a)		11,550		11,686,873
4.35%, 08/15/48 (Call 02/15/48)^(a)		16,102		14,246,389
4.40%, 08/15/47 (Call 02/15/47)		15,047		13,445,802
4.75%, 02/15/22 (Call 11/15/21)		4,057		4,221,148
4.80%, 06/15/44 (Call 12/15/43)		9,260		8,826,006
7.30%, 11/15/39^(a)		1,042		1,261,916

				66,965,444

Gas — 0.1%
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)^(a)		3,821		3,780,486
NiSource Inc.
3.49%, 05/15/27 (Call 02/15/27)^(a)		15,926		15,431,606
3.95%, 03/30/48 (Call 09/30/47)^(a)		5,821		5,260,485
4.38%, 05/15/47 (Call 11/15/46)		12,668		12,230,574
4.80%, 02/15/44 (Call 08/15/43)^(a)		12,672		12,744,106

				49,447,257

Health Care – Products — 1.8%
Abbott Laboratories
2.55%, 03/15/22^(a)		4,880		4,818,655
2.90%, 11/30/21 (Call 10/30/21)^(a)		13,660		13,645,384
2.95%, 03/15/25 (Call 12/15/24)^(a)		13,633		13,388,559
3.40%, 11/30/23 (Call 09/30/23)		9,549		9,642,168
3.75%, 11/30/26 (Call 08/30/26)		7,975		8,086,111
4.75%, 11/30/36 (Call 05/30/36)^(a)		33,335		35,728,400
4.90%, 11/30/46 (Call 05/30/46)^(a)		34,677		37,855,896
Becton Dickinson and Co.
2.89%, 06/06/22 (Call 05/06/22)		24,759		24,493,470
3.13%, 11/08/21^(a)		5,083		5,055,003
3.36%, 06/06/24 (Call 04/06/24)		25,094		24,709,670
3.70%, 06/06/27 (Call 03/06/27)		32,440		31,540,202
3.73%, 12/15/24 (Call 09/15/24)^(a)		14,812		14,825,310
4.67%, 06/06/47 (Call 12/06/46)^(a)		10,580		10,490,787
4.69%, 12/15/44 (Call 06/15/44)		6,006		5,867,102
Boston Scientific Corp.
3.45%, 03/01/24 (Call 02/01/24)		5,000		5,012,282
3.75%, 03/01/26 (Call 01/01/26)		10,000		10,014,199
3.85%, 05/15/25^(a)		15,075		15,270,948
4.00%, 03/01/28 (Call 12/01/27)^(a)		13,454		13,480,638
4.00%, 03/01/29 (Call 12/01/28)		8,250		8,225,655
4.55%, 03/01/39 (Call 09/01/38)		10,200		10,194,351
4.70%, 03/01/49 (Call 09/01/48)		10,465		10,429,024
Medtronic Global Holdings SCA, 3.35%, 04/01/27 (Call 01/01/27)		16,164		16,111,462


Security	Par (000)		Value

Health Care – Products (continued)
Medtronic Inc.
3.15%, 03/15/22	$	15,408	$	15,508,805
3.50%, 03/15/25		46,543		47,231,534
3.63%, 03/15/24 (Call 12/15/23)^(a)		3,917		4,015,155
4.38%, 03/15/35^(a)		20,557		21,656,339
4.63%, 03/15/45		50,595		55,390,698
Stryker Corp.
3.38%, 11/01/25 (Call 08/01/25)		3,122		3,102,202
3.50%, 03/15/26 (Call 12/15/25)		10,312		10,248,970
4.63%, 03/15/46 (Call 09/15/45)		10,061		10,277,808
Thermo Fisher Scientific Inc.
2.95%, 09/19/26 (Call 06/19/26)		21,792		20,564,267
3.00%, 04/15/23 (Call 02/15/23)^(a)		9,875		9,727,753
3.15%, 01/15/23 (Call 10/15/22)^(a)		5,713		5,688,022
3.20%, 08/15/27 (Call 05/15/27)		12,379		11,746,865
3.30%, 02/15/22^(a)		4,255		4,270,406
4.10%, 08/15/47 (Call 02/15/47)^(a)		6,003		5,631,399
4.15%, 02/01/24 (Call 11/01/23)^(a)		13,642		14,089,867
Zimmer Biomet Holdings Inc.
3.15%, 04/01/22 (Call 02/01/22)^(a)		2,898		2,869,154
3.55%, 04/01/25 (Call 01/01/25)^(a)		21,768		21,127,207

				592,031,727

Health Care – Services — 2.1%
Aetna Inc.
2.75%, 11/15/22 (Call 08/15/22)		10,552		10,313,329
2.80%, 06/15/23 (Call 04/15/23)		21,194		20,637,874
3.50%, 11/15/24 (Call 08/15/24)		16,055		15,854,404
3.88%, 08/15/47 (Call 02/15/47)^(a)		7,065		5,865,155
6.63%, 06/15/36		10,318		12,030,533
Anthem Inc.
2.95%, 12/01/22 (Call 11/01/22)		11,073		10,978,803
3.13%, 05/15/22^(a)		8,481		8,457,529
3.30%, 01/15/23^(a)		17,565		17,589,089
3.35%, 12/01/24 (Call 10/01/24)^(a)		12,435		12,322,432
3.50%, 08/15/24 (Call 05/15/24)		14,463		14,428,604
3.65%, 12/01/27 (Call 09/01/27)^(a)		19,404		19,061,069
4.10%, 03/01/28 (Call 12/01/27)^(a)		13,173		13,295,347
4.38%, 12/01/47 (Call 06/01/47)		17,969		17,221,459
4.55%, 03/01/48 (Call 09/01/47)^(a)		9,002		8,851,548
4.63%, 05/15/42^(a)		10,882		10,764,593
4.65%, 01/15/43		10,666		10,622,342
4.65%, 08/15/44 (Call 02/15/44)		10,138		10,075,490
5.85%, 01/15/36^(a)		553		623,375
Cigna Holding Co.
3.05%, 10/15/27 (Call 07/15/27)		1,407		1,297,223
3.25%, 04/15/25 (Call 01/15/25)^(a)		14,920		14,515,004
3.88%, 10/15/47 (Call 04/15/47)		5,111		4,317,377
4.00%, 02/15/22 (Call 11/15/21)^(a)		3,945		4,015,843
HCA Inc.
4.50%, 02/15/27 (Call 08/15/26)^(a)		14,000		14,109,480
4.75%, 05/01/23^(a)		15,111		15,645,778
5.00%, 03/15/24		20,915		21,866,005
5.25%, 04/15/25		17,545		18,594,366
5.25%, 06/15/26 (Call 12/15/25)^(a)		17,855		18,855,416
5.50%, 06/15/47 (Call 12/15/46)		19,384		20,143,853
Humana Inc., 4.95%, 10/01/44 (Call 04/01/44)^(a)		9,418		9,668,795
Kaiser Foundation Hospitals, 4.15%, 05/01/47 (Call 11/01/46)		12,094		12,204,300


Security	Par (000)		Value

Health Care – Services (continued)
Laboratory Corp. of America Holdings
3.60%, 02/01/25 (Call 11/01/24)^(a)	$	19,695	$	19,238,864
4.70%, 02/01/45 (Call 08/01/44)^(a)		7,476		6,991,898
UnitedHealth Group Inc.
2.38%, 10/15/22		15,743		15,462,661
2.88%, 12/15/21^(a)		5,772		5,768,523
2.88%, 03/15/22 (Call 12/15/21)^(a)		12,037		12,041,585
2.88%, 03/15/23		5,009		4,984,415
2.95%, 10/15/27		13,811		13,244,662
3.10%, 03/15/26^(a)		13,498		13,233,038
3.35%, 07/15/22^(a)		9,654		9,778,047
3.38%, 04/15/27^(a)		1,619		1,605,832
3.45%, 01/15/27^(a)		8,133		8,138,617
3.50%, 06/15/23^(a)		6,082		6,185,460
3.50%, 02/15/24		14,948		15,186,868
3.75%, 07/15/25		30,478		31,292,360
3.75%, 10/15/47 (Call 04/15/47)^(a)		15,610		14,617,569
3.85%, 06/15/28^(a)		14,077		14,427,323
4.20%, 01/15/47 (Call 07/15/46)		13,428		13,469,204
4.25%, 03/15/43 (Call 09/15/42)^(a)		16,203		16,457,510
4.25%, 04/15/47 (Call 10/15/46)		1,509		1,528,594
4.25%, 06/15/48 (Call 12/15/47)^(a)		18,690		18,918,573
4.45%, 12/15/48 (Call 06/15/48)^(a)		2,012		2,098,469
4.63%, 07/15/35^(a)		10,848		11,779,121
4.75%, 07/15/45^(a)		24,042		26,117,411
5.80%, 03/15/36^(a)		10,836		13,032,558
6.88%, 02/15/38^(a)		14,085		18,695,636

				688,521,213

Housewares — 0.2%
Newell Brands Inc.
3.85%, 04/01/23 (Call 02/01/23)		23,493		22,916,747
4.20%, 04/01/26 (Call 01/01/26)		31,486		29,517,416
5.50%, 04/01/46 (Call 10/01/45)		1,000		868,529

				53,302,692

Insurance — 2.1%
Aflac Inc., 3.63%, 11/15/24^(a)		8,465		8,631,688
American International Group Inc.
3.75%, 07/10/25 (Call 04/10/25)		16,812		16,557,451
3.88%, 01/15/35 (Call 07/15/34)		11,837		10,480,202
3.90%, 04/01/26 (Call 01/01/26)^(a)		16,670		16,345,555
4.13%, 02/15/24		17,682		18,021,003
4.20%, 04/01/28 (Call 01/01/28)^(a)		11,906		11,759,868
4.38%, 01/15/55 (Call 07/15/54)		7,723		6,545,870
4.50%, 07/16/44 (Call 01/16/44)^(a)		24,656		22,640,288
4.75%, 04/01/48 (Call 10/01/47)^(a)		12,875		12,304,330
4.80%, 07/10/45 (Call 01/10/45)^(a)		16,664		15,964,769
4.88%, 06/01/22^(a)		2,461		2,580,534
6.25%, 05/01/36^(a)		9,437		10,538,103
Aon PLC, 3.88%, 12/15/25 (Call 09/15/25)^(a)		15,430		15,691,579
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)		13,213		12,339,346
AXA Equitable Holdings Inc.
3.90%, 04/20/23 (Call 03/20/23)		12,607		12,725,159
4.35%, 04/20/28 (Call 01/20/28)^(a)		16,983		16,776,268
5.00%, 04/20/48 (Call 10/20/47)		11,548		10,792,493
Berkshire Hathaway Finance Corp.
3.00%, 05/15/22^(a)		4,985		5,021,109
4.20%, 08/15/48 (Call 02/15/48)^(a)		35,235		35,391,465
4.25%, 01/15/49 (Call 07/15/48)		7,905		8,011,631
5.75%, 01/15/40^(a)		2,658		3,212,677


Security	Par (000)		Value

Insurance (continued)
Berkshire Hathaway Inc.
2.75%, 03/15/23 (Call 01/15/23)^(a)	$	23,256	$	23,201,972
3.13%, 03/15/26 (Call 12/15/25)^(a)		31,880		31,501,734
4.50%, 02/11/43^(a)		12,846		13,579,313
Brighthouse Financial Inc.
3.70%, 06/22/27 (Call 03/22/27)^(a)		18,233		16,369,899
4.70%, 06/22/47 (Call 12/22/46)		17,095		13,526,253
Chubb Corp. (The), 6.00%, 05/11/37^(a)		12,079		14,893,094
Chubb INA Holdings Inc.
2.88%, 11/03/22 (Call 09/03/22)^(a)		8,741		8,735,213
3.15%, 03/15/25^(a)		11,585		11,482,353
3.35%, 05/03/26 (Call 02/03/26)		10,409		10,364,426
4.35%, 11/03/45 (Call 05/03/45)^(a)		13,643		14,263,080
Manulife Financial Corp.
4.15%, 03/04/26^(a)		12,429		12,833,501
5.38%, 03/04/46^(a)		12,134		13,509,086
Marsh & McLennan Companies Inc.
3.88%, 03/15/24 (Call 02/15/24)^(a)		10,200		10,430,123
4.38%, 03/15/29 (Call 12/15/28)^(a)		10,000		10,313,781
4.90%, 03/15/49 (Call 09/15/48)		10,415		10,967,702
MetLife Inc.
3.60%, 04/10/24^(a)		12,049		12,317,532
4.05%, 03/01/45^(a)		7,469		7,079,196
4.13%, 08/13/42^(a)		8,579		8,254,951
4.60%, 05/13/46 (Call 11/13/45)^(a)		5,599		5,764,439
4.88%, 11/13/43		14,405		15,408,098
5.70%, 06/15/35^(a)		11,550		13,438,338
5.88%, 02/06/41^(a)		7,977		9,591,575
6.38%, 06/15/34^(a)		9,028		11,177,440
Series D, 4.37%, 09/15/23		15,127		15,914,549
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)		11,889		11,845,989
Prudential Financial Inc.
3.91%, 12/07/47 (Call 06/07/47)^(a)		9,507		8,770,597
3.94%, 12/07/49 (Call 06/07/49)		11,758		10,942,772
4.35%, 02/25/50 (Call 08/25/49)^(a)		5,525		5,462,262
4.60%, 05/15/44^(a)		17,192		17,591,346
5.70%, 12/14/36^(a)		7,704		8,871,225
Travelers Companies Inc. (The)
5.35%, 11/01/40		9,331		10,877,106
6.25%, 06/15/37^(a)		11,340		14,253,984

				675,864,317

Internet — 1.2%
Alphabet Inc.
2.00%, 08/15/26 (Call 05/15/26)		23,080		21,375,895
3.38%, 02/25/24^(a)		17,147		17,591,063
Amazon.com Inc.
2.40%, 02/22/23 (Call 01/22/23)^(a)		17,626		17,311,057
2.50%, 11/29/22 (Call 08/29/22)^(a)		19,259		19,075,371
2.80%, 08/22/24 (Call 06/22/24)		23,957		23,691,583
3.15%, 08/22/27 (Call 05/22/27)^(a)		45,513		44,878,835
3.30%, 12/05/21 (Call 10/05/21)		2,973		3,015,424
3.80%, 12/05/24 (Call 09/05/24)^(a)		9,400		9,798,126
3.88%, 08/22/37 (Call 02/22/37)^(a)		33,168		33,025,978
4.05%, 08/22/47 (Call 02/22/47)^(a)		43,953		44,081,154
4.25%, 08/22/57 (Call 02/22/57)^(a)		13,290		13,442,158
4.80%, 12/05/34 (Call 06/05/34)^(a)		28,374		31,639,907
4.95%, 12/05/44 (Call 06/05/44)^(a)		14,858		16,867,473
5.20%, 12/03/25 (Call 09/03/25)		7,140		8,018,259


Security	Par (000)		Value

Internet (continued)
Booking Holdings Inc., 3.60%, 06/01/26 (Call 03/01/26)^(a)	$	16,131	$	15,812,950
eBay Inc.
2.60%, 07/15/22 (Call 04/15/22)^(a)		11,971		11,715,047
2.75%, 01/30/23 (Call 12/30/22)^(a)		12,319		11,991,336
3.45%, 08/01/24 (Call 05/01/24)^(a)		6,879		6,817,283
3.60%, 06/05/27 (Call 03/05/27)^(a)		12,917		12,309,813
3.80%, 03/09/22 (Call 02/09/22)		10,520		10,667,301
4.00%, 07/15/42 (Call 01/15/42)^(a)		5,948		4,761,666
Expedia Group Inc.
3.80%, 02/15/28 (Call 11/15/27)		10,505		9,933,003
5.00%, 02/15/26 (Call 11/15/25)		7,312		7,576,823

				395,397,505

Machinery — 0.4%
ABB Finance USA Inc.
2.88%, 05/08/22^(a)		17,412		17,294,755
3.80%, 04/03/28 (Call 01/03/28)		3,740		3,812,093
4.38%, 05/08/42^(a)		5,570		5,777,778
Caterpillar Financial Services Corp., 1.70%, 08/09/21^(a)		496		482,097
Caterpillar Inc.
3.40%, 05/15/24 (Call 02/15/24)		7,789		7,934,287
3.80%, 08/15/42^(a)		18,790		18,039,708
5.20%, 05/27/41^(a)		9,329		10,548,185
Deere & Co.
2.60%, 06/08/22 (Call 03/08/22)^(a)		7,484		7,432,241
3.90%, 06/09/42 (Call 12/09/41)^(a)		12,589		12,612,174
John Deere Capital Corp., 2.80%, 03/06/23^(a)		23,232		23,046,260
Roper Technologies Inc., 4.20%, 09/15/28 (Call 06/15/28)		75		75,426
Wabtec Corp.
4.15%, 03/15/24 (Call 02/15/24)^(a)		13,389		13,339,263
4.70%, 09/15/28 (Call 06/15/28)^(a)		22,466		22,196,408

				142,590,675

Manufacturing — 0.9%
3M Co.
2.88%, 10/15/27 (Call 07/15/27)^(a)		5,625		5,434,756
3.63%, 09/14/28 (Call 06/14/28)^(a)		7,000		7,153,137
4.00%, 09/14/48 (Call 03/14/48)^(a)		13,205		13,264,671
5.70%, 03/15/37^(a)		1,410		1,708,312
Eaton Corp.
2.75%, 11/02/22		17,679		17,455,658
4.15%, 11/02/42^(a)		4,372		4,197,511
General Electric Co.
2.70%, 10/09/22		33,998		32,904,529
3.10%, 01/09/23		7,465		7,303,074
3.15%, 09/07/22^(a)		12,204		12,022,523
3.38%, 03/11/24^(a)		6,351		6,224,160
3.45%, 05/15/24 (Call 02/13/24)		1,322		1,297,693
4.13%, 10/09/42		24,442		20,649,547
4.50%, 03/11/44		25,831		23,012,794
4.65%, 10/17/21		7,973		8,178,997
5.88%, 01/14/38		36,161		37,895,220
6.15%, 08/07/37		11,813		12,667,200
6.88%, 01/10/39^(a)		21,571		24,956,763
Series A, 6.75%, 03/15/32		35,437		40,593,147


Security	Par (000)		Value

Manufacturing (continued)
Illinois Tool Works Inc.
2.65%, 11/15/26 (Call 08/15/26)^(a)	$	3,206	$	3,064,174
3.90%, 09/01/42 (Call 03/01/42)^(a)		16,315		16,276,071

				296,259,937

Media — 5.1%
21st Century Fox America Inc.
3.00%, 09/15/22^(a)		15,401		15,424,426
6.15%, 03/01/37		18,278		22,780,736
6.15%, 02/15/41^(a)		15,518		19,623,725
6.20%, 12/15/34		7,579		9,373,033
6.40%, 12/15/35		12,584		15,931,993
6.65%, 11/15/37^(a)		13,308		17,506,642
CBS Corp.
3.50%, 01/15/25 (Call 10/15/24)		195		190,327
4.00%, 01/15/26 (Call 10/15/25)		17,974		17,812,448
7.88%, 07/30/30^(a)		5,645		7,243,764
Charter Communications Operating LLC/Charter Communications Operating Capital
3.75%, 02/15/28 (Call 11/15/27)^(a)		15,610		14,611,684
4.20%, 03/15/28 (Call 12/15/27)		18,775		18,175,997
4.46%, 07/23/22 (Call 05/23/22)		29,500		30,246,925
4.50%, 02/01/24 (Call 01/01/24)^(a)		10,516		10,770,690
4.91%, 07/23/25 (Call 04/23/25)^(a)		51,516		53,343,989
5.05%, 03/30/29 (Call 12/30/28)^(a)		16,390		16,754,871
5.38%, 04/01/38 (Call 10/01/37)		6,913		6,700,564
5.38%, 05/01/47 (Call 11/01/46)^(a)		33,280		31,560,206
5.75%, 04/01/48 (Call 10/01/47)^(a)		21,319		21,274,976
6.38%, 10/23/35 (Call 04/23/35)^(a)		22,042		23,567,172
6.48%, 10/23/45 (Call 04/23/45)^(a)		46,746		50,216,643
Comcast Cable Communications Holdings Inc., 9.46%, 11/15/22		12,758		15,530,427
Comcast Corp.
2.35%, 01/15/27 (Call 10/15/26)		15,287		14,000,477
2.75%, 03/01/23 (Call 02/01/23)		11,267		11,076,505
2.85%, 01/15/23^(a)		7,613		7,543,576
3.00%, 02/01/24 (Call 01/01/24)^(a)		19,231		19,045,021
3.13%, 07/15/22^(a)		10,442		10,486,293
3.15%, 03/01/26 (Call 12/01/25)^(a)		19,127		18,767,036
3.15%, 02/15/28 (Call 11/15/27)		7,182		6,913,266
3.20%, 07/15/36 (Call 01/15/36)^(a)		18,501		16,185,359
3.30%, 02/01/27 (Call 11/01/26)		9,043		8,840,585
3.38%, 02/15/25 (Call 11/15/24)		13,182		13,180,434
3.38%, 08/15/25 (Call 05/15/25)		17,506		17,449,911
3.40%, 07/15/46 (Call 01/15/46)^(a)		25,074		21,312,727
3.55%, 05/01/28 (Call 02/01/28)^(a)		10,851		10,744,874
3.60%, 03/01/24^(a)		15,471		15,731,821
3.70%, 04/15/24 (Call 03/15/24)		36,824		37,615,701
3.90%, 03/01/38 (Call 09/01/37)		9,513		9,000,981
3.95%, 10/15/25 (Call 08/15/25)		34,772		35,785,225
3.97%, 11/01/47 (Call 05/01/47)^(a)		13,894		12,853,078
4.00%, 08/15/47 (Call 02/15/47)^(a)		8,640		8,047,154
4.00%, 03/01/48 (Call 09/01/47)^(a)		16,720		15,597,545
4.00%, 11/01/49 (Call 05/01/49)^(a)		19,298		17,941,650
4.05%, 11/01/52 (Call 05/01/52)		9,174		8,481,204
4.15%, 10/15/28 (Call 07/15/28)		49,285		50,853,071
4.20%, 08/15/34 (Call 02/15/34)		14,214		14,248,168
4.25%, 10/15/30 (Call 07/15/30)		21,986		22,779,248
4.25%, 01/15/33^(a)		21,286		21,758,181
4.40%, 08/15/35 (Call 02/15/35)		12,443		12,553,358
4.60%, 10/15/38 (Call 04/15/38)		35,973		37,119,254


Security	Par (000)		Value

Media (continued)
4.60%, 08/15/45 (Call 02/15/45)	$	18,501	$	18,886,933
4.65%, 07/15/42^(a)		13,310		13,659,840
4.70%, 10/15/48 (Call 04/15/48)^(a)		54,335		56,532,568
4.75%, 03/01/44		17,386		18,089,005
4.95%, 10/15/58 (Call 04/15/58)		35,129		37,095,044
5.65%, 06/15/35		4,766		5,417,572
6.40%, 05/15/38^(a)		3,411		4,171,174
6.45%, 03/15/37^(a)		5,405		6,643,581
6.50%, 11/15/35		11,243		13,716,075
6.95%, 08/15/37		13,197		16,955,024
7.05%, 03/15/33^(a)		9,239		11,969,635
Discovery Communications LLC
2.95%, 03/20/23 (Call 02/20/23)		11,840		11,462,176
3.95%, 03/20/28 (Call 12/20/27)^(a)		26,788		25,498,032
4.88%, 04/01/43^(a)		14,172		12,754,963
5.00%, 09/20/37 (Call 03/20/37)^(a)		17,026		16,081,886
5.20%, 09/20/47 (Call 03/20/47)^(a)		21,220		19,955,226
6.35%, 06/01/40^(a)		2,946		3,149,580
Fox Corp.
4.03%, 01/25/24 (Call 12/25/23)^(a)(b)		14,581		14,880,207
4.71%, 01/25/29 (Call 10/25/28)^(b)		22,733		23,622,370
5.48%, 01/25/39 (Call 07/25/38)^(b)		14,000		14,674,748
5.58%, 01/25/49 (Call 07/25/48)^(b)		18,090		19,074,331
NBCUniversal Media LLC
2.88%, 01/15/23^(a)		13,466		13,384,012
4.45%, 01/15/43		20,224		20,068,441
5.95%, 04/01/41^(a)		4,310		5,088,782
Time Warner Cable LLC
4.00%, 09/01/21 (Call 06/01/21)^(a)		3,433		3,461,189
4.50%, 09/15/42 (Call 03/15/42)		14,258		11,957,232
5.50%, 09/01/41 (Call 03/01/41)		10,867		10,339,443
5.88%, 11/15/40 (Call 05/15/40)^(a)		11,607		11,500,247
6.55%, 05/01/37		9,280		9,870,699
6.75%, 06/15/39^(a)		20,236		21,717,510
7.30%, 07/01/38^(a)		20,968		23,706,456
Time Warner Entertainment Co. LP
8.38%, 03/15/23		15,161		17,476,793
8.38%, 07/15/33^(a)		13,949		17,630,463
Viacom Inc.
4.25%, 09/01/23 (Call 06/01/23)^(a)		15,085		15,433,756
4.38%, 03/15/43		17,156		14,728,236
5.85%, 09/01/43 (Call 03/01/43)^(a)		17,136		17,873,192
6.88%, 04/30/36^(a)		12,593		14,309,573
Walt Disney Co. (The)
1.85%, 07/30/26^(a)		5,308		4,832,557
2.35%, 12/01/22^(a)		12,574		12,355,601
2.75%, 08/16/21		1,768		1,765,940
2.95%, 06/15/27^(a)		11,411		11,173,736
3.00%, 02/13/26		15,938		15,768,080
3.15%, 09/17/25^(a)		16,120		16,198,941
4.13%, 06/01/44^(a)		11,123		11,263,329
Warner Media LLC
2.95%, 07/15/26 (Call 04/15/26)		14,449		13,375,640
3.55%, 06/01/24 (Call 03/01/24)		11,821		11,768,289
3.60%, 07/15/25 (Call 04/15/25)		23,560		23,190,732
3.80%, 02/15/27 (Call 11/15/26)		27,131		26,460,672
4.85%, 07/15/45 (Call 01/15/45)^(a)		5,164		4,927,736

				1,660,470,188


Security	Par (000)		Value

Metal Fabricate & Hardware — 0.1%
Precision Castparts Corp.
2.50%, 01/15/23 (Call 10/15/22)^(a)	$	18,444	$	18,141,420
3.25%, 06/15/25 (Call 03/15/25)		4,636		4,692,965

				22,834,385

Mining — 0.5%
Barrick Gold Corp., 5.25%, 04/01/42^(a)		7,980		8,292,612
Barrick North America Finance LLC
5.70%, 05/30/41		10,068		11,047,077
5.75%, 05/01/43^(a)		10,650		11,789,288
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39^(a)		12,194		13,692,685
BHP Billiton Finance USA Ltd.
2.88%, 02/24/22		1,955		1,949,034
4.13%, 02/24/42^(a)		10,613		10,737,280
5.00%, 09/30/43^(a)		31,244		35,535,392
Newmont Mining Corp.
3.50%, 03/15/22 (Call 12/15/21)		6,862		6,891,202
4.88%, 03/15/42 (Call 09/15/41)^(a)		11,029		11,005,105
6.25%, 10/01/39^(a)		7,928		9,104,486
Rio Tinto Alcan Inc., 6.13%, 12/15/33		4,994		6,098,283
Rio Tinto Finance USA Ltd.
3.75%, 06/15/25 (Call 03/15/25)		8,057		8,296,586
5.20%, 11/02/40^(a)		18,256		20,860,032
7.13%, 07/15/28^(a)		8,971		11,386,910
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)^(a)		11,291		11,333,271

				178,019,243

Oil & Gas — 5.6%
Anadarko Finance Co., Series B, 7.50%, 05/01/31		7,823		9,455,784
Anadarko Petroleum Corp.
5.55%, 03/15/26 (Call 12/15/25)^(a)		16,234		17,353,014
6.20%, 03/15/40^(a)		11,144		12,257,614
6.45%, 09/15/36		22,218		25,001,409
6.60%, 03/15/46 (Call 09/15/45)^(a)		10,693		12,673,311
Apache Corp.
3.25%, 04/15/22 (Call 01/15/22)		10,116		10,018,993
4.25%, 01/15/44 (Call 07/15/43)		13,354		11,399,220
4.75%, 04/15/43 (Call 10/15/42)		18,564		16,868,320
5.10%, 09/01/40 (Call 03/01/40)		18,379		17,347,868
6.00%, 01/15/37		8,243		8,644,796
BP Capital Markets America Inc.
2.75%, 05/10/23		18,913		18,631,287
3.02%, 01/16/27 (Call 10/16/26)		6,821		6,580,208
3.12%, 05/04/26 (Call 02/04/26)		10,472		10,244,765
3.22%, 11/28/23 (Call 09/28/23)		10,246		10,269,238
3.22%, 04/14/24 (Call 02/14/24)		9,746		9,759,745
3.25%, 05/06/22		9,671		9,747,929
3.59%, 04/14/27 (Call 01/14/27)		2,647		2,653,200
3.79%, 02/06/24 (Call 01/06/24)		10,000		10,257,474
3.80%, 09/21/25 (Call 07/21/25)^(a)		10,255		10,497,409
4.23%, 11/06/28 (Call 08/06/28)		18,615		19,563,269
BP Capital Markets PLC
2.50%, 11/06/22^(a)		8,963		8,800,484
3.06%, 03/17/22^(a)		13,947		13,981,770
3.28%, 09/19/27 (Call 06/19/27)^(a)		15,644		15,294,978
3.51%, 03/17/25		8,773		8,852,865
3.54%, 11/04/24		12,273		12,487,884
3.72%, 11/28/28 (Call 08/28/28)^(a)		7,675		7,802,376


Security	Par (000)		Value

Oil & Gas (continued)
3.81%, 02/10/24	$	15,383	$	15,803,154
3.99%, 09/26/23		13,097		13,567,244
Canadian Natural Resources Ltd.
2.95%, 01/15/23 (Call 12/15/22)		9,540		9,316,035
3.85%, 06/01/27 (Call 03/01/27)^(a)		15,768		15,441,530
4.95%, 06/01/47 (Call 12/01/46)		9,487		9,845,100
6.25%, 03/15/38^(a)		18,369		21,262,040
Cenovus Energy Inc.
4.25%, 04/15/27 (Call 01/15/27)^(a)		7,916		7,544,056
4.45%, 09/15/42 (Call 03/15/42)		6,452		5,333,968
5.25%, 06/15/37 (Call 12/15/36)		1,859		1,737,572
5.40%, 06/15/47 (Call 12/15/46)^(a)		18,596		17,504,716
6.75%, 11/15/39		15,121		15,874,083
Chevron Corp.
2.36%, 12/05/22 (Call 09/05/22)		18,561		18,255,564
2.57%, 05/16/23 (Call 03/16/23)^(a)		13,135		12,957,202
2.90%, 03/03/24 (Call 01/03/24)^(a)		8,805		8,767,564
2.95%, 05/16/26 (Call 02/16/26)^(a)		26,959		26,497,958
3.19%, 06/24/23 (Call 03/24/23)^(a)		26,116		26,378,346
3.33%, 11/17/25 (Call 08/17/25)		8,408		8,508,439
Concho Resources Inc.
3.75%, 10/01/27 (Call 07/01/27)^(a)		17,408		16,855,366
4.30%, 08/15/28 (Call 05/15/28)^(a)		7,275		7,328,816
4.88%, 10/01/47 (Call 04/01/47)^(a)		7,881		7,919,289
ConocoPhillips, 6.50%, 02/01/39^(a)		31,023		40,566,453
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		10,048		10,318,863
4.95%, 03/15/26 (Call 12/15/25)^(a)		18,101		19,824,956
ConocoPhillips Holding Co., 6.95%, 04/15/29		21,464		27,251,235
Devon Energy Corp.
3.25%, 05/15/22 (Call 02/15/22)^(a)		11,629		11,559,081
4.75%, 05/15/42 (Call 11/15/41)		13,305		12,985,897
5.00%, 06/15/45 (Call 12/15/44)		4,888		4,940,158
5.60%, 07/15/41 (Call 01/15/41)		8,596		9,299,474
5.85%, 12/15/25 (Call 09/15/25)		947		1,044,389
Encana Corp., 6.50%, 08/15/34		12,871		14,711,102
EOG Resources Inc.
2.63%, 03/15/23 (Call 12/15/22)^(a)		18,984		18,618,888
4.15%, 01/15/26 (Call 10/15/25)		9,761		10,143,128
EQT Corp.
3.00%, 10/01/22 (Call 09/01/22)		14,494		13,993,777
3.90%, 10/01/27 (Call 07/01/27)^(a)		5,337		4,840,151
4.88%, 11/15/21		5,778		5,928,189
Equinor ASA
2.45%, 01/17/23^(a)		11,856		11,677,302
2.65%, 01/15/24		13,971		13,769,841
2.75%, 11/10/21^(a)		379		378,971
3.15%, 01/23/22		2,505		2,530,749
3.70%, 03/01/24		15,170		15,641,848
3.95%, 05/15/43		8,121		7,956,970
4.80%, 11/08/43		4,957		5,474,493
5.10%, 08/17/40		7,132		8,095,500
Exxon Mobil Corp.
2.40%, 03/06/22 (Call 01/06/22)^(a)		6,450		6,385,045
2.71%, 03/06/25 (Call 12/06/24)^(a)		16,689		16,450,252
2.73%, 03/01/23 (Call 01/01/23)		17,801		17,774,080
3.04%, 03/01/26 (Call 12/01/25)^(a)		38,109		37,887,659
3.18%, 03/15/24 (Call 12/15/23)^(a)		8,132		8,232,282
3.57%, 03/06/45 (Call 09/06/44)^(a)		7,147		6,848,157
4.11%, 03/01/46 (Call 09/01/45)^(a)		31,124		32,383,305


Security	Par (000)		Value

Oil & Gas (continued)
Hess Corp.
4.30%, 04/01/27 (Call 01/01/27)	$	11,421	$	11,046,666
5.60%, 02/15/41		11,972		11,632,399
6.00%, 01/15/40		9,472		9,504,271
Marathon Oil Corp.
2.80%, 11/01/22 (Call 08/01/22)^(a)		2,964		2,888,783
3.85%, 06/01/25 (Call 03/01/25)		11,322		11,184,794
4.40%, 07/15/27 (Call 04/15/27)^(a)		13,917		14,026,152
6.60%, 10/01/37		12,813		14,705,123
Marathon Petroleum Corp.
3.63%, 09/15/24 (Call 06/15/24)		9,762		9,643,378
4.75%, 09/15/44 (Call 03/15/44)		9,702		9,298,759
5.13%, 12/15/26 (Call 09/15/26)^(b)		237		250,676
6.50%, 03/01/41 (Call 09/01/40)^(a)		14,505		16,899,928
Noble Energy Inc.
4.15%, 12/15/21 (Call 09/15/21)		5,473		5,569,301
5.05%, 11/15/44 (Call 05/15/44)		12,774		11,968,083
5.25%, 11/15/43 (Call 05/15/43)		9,853		9,418,360
6.00%, 03/01/41 (Call 09/01/40)		10,060		10,439,264
Occidental Petroleum Corp.
2.70%, 02/15/23 (Call 11/15/22)		11,395		11,238,727
3.00%, 02/15/27 (Call 11/15/26)		5,326		5,178,097
3.13%, 02/15/22 (Call 11/15/21)^(a)		2,995		3,014,208
3.40%, 04/15/26 (Call 01/15/26)^(a)		12,335		12,360,686
3.50%, 06/15/25 (Call 03/15/25)		6,520		6,595,831
4.10%, 02/15/47 (Call 08/15/46)^(a)		12,878		12,594,571
4.20%, 03/15/48 (Call 09/15/47)^(a)		11,258		11,248,926
4.40%, 04/15/46 (Call 10/15/45)		12,113		12,395,503
4.63%, 06/15/45 (Call 12/15/44)		14,864		15,608,233
Petro-Canada, 6.80%, 05/15/38^(a)		11,460		14,225,802
Phillips 66
3.90%, 03/15/28 (Call 12/15/27)^(a)		5,134		5,113,474
4.30%, 04/01/22		13,799		14,288,717
4.65%, 11/15/34 (Call 05/15/34)		20,112		20,791,454
4.88%, 11/15/44 (Call 05/15/44)^(a)		21,982		22,896,557
5.88%, 05/01/42^(a)		19,272		22,343,375
Shell International Finance BV
1.75%, 09/12/21^(a)		3,757		3,660,892
2.25%, 01/06/23		16,355		15,968,409
2.38%, 08/21/22^(a)		15,175		14,938,633
2.50%, 09/12/26		20,195		19,090,467
2.88%, 05/10/26^(a)		24,185		23,500,412
3.25%, 05/11/25		31,647		31,775,579
3.40%, 08/12/23^(a)		5,839		5,951,533
3.50%, 11/13/23 (Call 10/13/23)		11,000		11,241,229
3.75%, 09/12/46^(a)		13,223		12,598,328
3.88%, 11/13/28 (Call 08/13/28)^(a)		19,260		19,943,682
4.00%, 05/10/46^(a)		27,588		27,575,036
4.13%, 05/11/35^(a)		9,008		9,285,692
4.38%, 05/11/45		38,719		40,706,922
4.55%, 08/12/43		22,622		24,360,740
5.50%, 03/25/40		8,481		10,139,151
6.38%, 12/15/38^(a)		24,673		32,152,938
Suncor Energy Inc.
3.60%, 12/01/24 (Call 09/01/24)^(a)		9,384		9,451,777
4.00%, 11/15/47 (Call 05/15/47)^(a)		11,575		10,761,304
6.50%, 06/15/38		14,727		17,860,730
6.85%, 06/01/39^(a)		6,361		7,981,460
Total Capital Canada Ltd., 2.75%, 07/15/23		2,047		2,018,918


Security	Par (000)		Value

Oil & Gas (continued)
Total Capital International SA
2.70%, 01/25/23^(a)	$	14,952	$	14,779,396
2.75%, 06/19/21^(a)		5,203		5,197,718
2.88%, 02/17/22^(a)		3,480		3,481,802
3.46%, 02/19/29 (Call 11/19/28)		15,580		15,548,077
3.70%, 01/15/24		8,718		8,946,026
3.75%, 04/10/24^(a)		10,025		10,308,839
Total Capital SA, 3.88%, 10/11/28		21,525		22,279,326
Valero Energy Corp.
3.40%, 09/15/26 (Call 06/15/26)		14,131		13,539,280
4.35%, 06/01/28 (Call 03/01/28)^(a)		13,915		14,097,998
6.63%, 06/15/37^(a)		17,380		20,597,770
7.50%, 04/15/32		5,745		7,144,295

				1,805,909,904

Oil & Gas Services — 0.6%
Baker Hughes a GE Co. LLC, 5.13%, 09/15/40^(a)		2,833		2,871,174
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc.
2.77%, 12/15/22 (Call 11/15/22)		4,638		4,565,677
3.34%, 12/15/27 (Call 09/15/27)^(a)		15,802		14,987,400
4.08%, 12/15/47 (Call 06/15/47)^(a)		25,049		22,055,775
Halliburton Co.
3.50%, 08/01/23 (Call 05/01/23)		13,834		13,958,881
3.80%, 11/15/25 (Call 08/15/25)^(a)		26,488		26,749,609
4.75%, 08/01/43 (Call 02/01/43)^(a)		12,661		12,567,532
4.85%, 11/15/35 (Call 05/15/35)		7,531		7,615,506
5.00%, 11/15/45 (Call 05/15/45)^(a)		31,433		32,310,534
6.70%, 09/15/38^(a)		10,428		12,687,789
7.45%, 09/15/39^(a)		8,185		10,735,132
National Oilwell Varco Inc.
2.60%, 12/01/22 (Call 09/01/22)^(a)		4,536		4,396,485
3.95%, 12/01/42 (Call 06/01/42)		12,532		10,225,760
Schlumberger Investment SA, 3.65%, 12/01/23 (Call 09/01/23)^(a)		7,251		7,446,160

				183,173,414

Packaging & Containers — 0.0%
WRKCo Inc., 4.65%, 03/15/26 (Call 01/15/26)^(a)		3,790		3,900,132


Pharmaceuticals — 7.9%
AbbVie Inc.
2.85%, 05/14/23 (Call 03/14/23)^(a)		15,985		15,606,068
2.90%, 11/06/22^(a)		32,907		32,473,394
3.20%, 11/06/22 (Call 09/06/22)^(a)		9,660		9,613,734
3.20%, 05/14/26 (Call 02/14/26)^(a)		26,246		24,744,401
3.60%, 05/14/25 (Call 02/14/25)^(a)		34,598		34,063,665
3.75%, 11/14/23 (Call 10/14/23)^(a)		18,505		18,685,570
4.25%, 11/14/28 (Call 08/14/28)^(a)		27,276		26,980,945
4.30%, 05/14/36 (Call 11/14/35)^(a)		15,327		13,918,855
4.40%, 11/06/42^(a)		27,442		24,347,209
4.45%, 05/14/46 (Call 11/14/45)^(a)		24,828		21,904,694
4.50%, 05/14/35 (Call 11/14/34)		29,731		27,765,623
4.70%, 05/14/45 (Call 11/14/44)^(a)		28,965		26,526,712
4.88%, 11/14/48 (Call 05/14/48)^(a)		21,120		19,857,860
Allergan Finance LLC, 3.25%, 10/01/22 (Call 07/01/22)^(a)		26,051		25,695,141
Allergan Funding SCS
3.45%, 03/15/22 (Call 01/15/22)		31,453		31,313,364
3.80%, 03/15/25 (Call 12/15/24)^(a)		43,184		42,687,466
3.85%, 06/15/24 (Call 03/15/24)^(a)		9,811		9,773,685
4.55%, 03/15/35 (Call 09/15/34)^(a)		36,190		33,707,420


Security	Par (000)		Value

Pharmaceuticals (continued)
4.75%, 03/15/45 (Call 09/15/44)^(a)	$	17,260	$	15,974,373
4.85%, 06/15/44 (Call 12/15/43)^(a)		7,911		7,313,372
AstraZeneca PLC
2.38%, 06/12/22 (Call 05/12/22)^(a)		14,689		14,355,876
3.13%, 06/12/27 (Call 03/12/27)		12,920		12,233,018
3.38%, 11/16/25^(a)		29,763		29,255,312
3.50%, 08/17/23 (Call 07/17/23)		10,000		10,051,087
4.00%, 01/17/29 (Call 10/17/28)^(a)		13,884		14,006,154
4.00%, 09/18/42		15,595		14,259,170
4.38%, 11/16/45^(a)		11,376		11,003,974
4.38%, 08/17/48 (Call 02/17/48)^(a)		8,552		8,240,051
6.45%, 09/15/37^(a)		30,699		37,265,522
Bristol-Myers Squibb Co.
2.00%, 08/01/22^(a)		9,770		9,477,978
3.25%, 02/27/27^(a)		11,172		10,864,473
Cardinal Health Inc.
2.62%, 06/15/22 (Call 05/15/22)		10,090		9,799,571
3.08%, 06/15/24 (Call 04/15/24)^(a)		10,810		10,359,138
3.41%, 06/15/27 (Call 03/15/27)^(a)		15,447		14,442,136
Cigna Corp.
3.75%, 07/15/23 (Call 06/15/23)^(a)(b)		35,577		35,999,836
4.13%, 11/15/25 (Call 09/15/25)^(b)		27,356		27,789,628
4.38%, 10/15/28 (Call 07/15/28)^(a)(b)		41,397		41,953,305
4.80%, 08/15/38 (Call 02/15/38)^(a)(b)		31,686		31,546,762
4.90%, 12/15/48 (Call 06/15/48)^(a)(b)		32,968		32,586,639
CVS Health Corp.
2.75%, 12/01/22 (Call 09/01/22)		14,242		13,909,129
2.88%, 06/01/26 (Call 03/01/26)^(a)		20,577		19,145,606
3.50%, 07/20/22 (Call 05/20/22)^(a)		12,835		12,893,689
3.70%, 03/09/23 (Call 02/09/23)^(a)		69,383		69,731,441
3.88%, 07/20/25 (Call 04/20/25)^(a)		30,652		30,615,368
4.00%, 12/05/23 (Call 09/05/23)		16,059		16,330,680
4.10%, 03/25/25 (Call 01/25/25)^(a)		66,571		67,467,538
4.30%, 03/25/28 (Call 12/25/27)^(a)		103,273		103,295,049
4.78%, 03/25/38 (Call 09/25/37)		55,236		53,749,550
5.05%, 03/25/48 (Call 09/25/47)^(a)		91,878		90,875,795
5.13%, 07/20/45 (Call 01/20/45)^(a)		44,860		44,614,306
5.30%, 12/05/43 (Call 06/05/43)^(a)		5,980		6,067,585
Eli Lilly & Co.
2.35%, 05/15/22^(a)		5,783		5,719,839
2.75%, 06/01/25 (Call 03/01/25)^(a)		11,170		10,941,299
3.10%, 05/15/27 (Call 02/15/27)^(a)		9,801		9,624,339
3.38%, 03/15/29 (Call 12/15/28)		12,755		12,666,621
3.70%, 03/01/45 (Call 09/01/44)		9,881		9,391,251
3.88%, 03/15/39 (Call 09/15/38)		10,000		9,849,367
3.95%, 05/15/47 (Call 11/15/46)^(a)		12,755		12,582,342
3.95%, 03/15/49 (Call 09/15/48)		17,315		16,922,259
4.15%, 03/15/59 (Call 09/15/58)		10,000		9,757,579
Express Scripts Holding Co.
3.00%, 07/15/23 (Call 05/15/23)		11,185		10,962,904
3.40%, 03/01/27 (Call 12/01/26)^(a)		21,406		20,374,685
3.50%, 06/15/24 (Call 03/15/24)		13,481		13,351,471
3.90%, 02/15/22^(a)		7,442		7,596,947
4.50%, 02/25/26 (Call 11/27/25)^(a)		17,032		17,436,285
4.75%, 11/15/21		3,044		3,158,791
4.80%, 07/15/46 (Call 01/15/46)^(a)		20,687		20,332,532
GlaxoSmithKline Capital Inc.
2.80%, 03/18/23^(a)		6,446		6,385,628
3.38%, 05/15/23^(a)		21,147		21,389,118
3.63%, 05/15/25^(a)		18,433		18,762,213


Security	Par (000)		Value

Pharmaceuticals (continued)
3.88%, 05/15/28^(a)	$	21,899	$	22,459,325
6.38%, 05/15/38^(a)		32,408		41,121,179
GlaxoSmithKline Capital PLC, 2.85%, 05/08/22^(a)		19,319		19,260,122
Johnson & Johnson
2.25%, 03/03/22 (Call 02/03/22)^(a)		4,698		4,637,256
2.45%, 03/01/26 (Call 12/01/25)^(a)		28,683		27,392,411
2.63%, 01/15/25 (Call 11/15/24)^(a)		9,511		9,348,138
2.90%, 01/15/28 (Call 10/15/27)^(a)		16,129		15,657,362
2.95%, 03/03/27 (Call 12/03/26)		7,637		7,447,702
3.38%, 12/05/23^(a)		6,783		6,958,540
3.40%, 01/15/38 (Call 07/15/37)^(a)		24,883		23,673,627
3.50%, 01/15/48 (Call 07/15/47)^(a)		12,252		11,502,506
3.55%, 03/01/36 (Call 09/01/35)		11,406		11,036,383
3.63%, 03/03/37 (Call 09/03/36)		15,850		15,446,678
3.70%, 03/01/46 (Call 09/01/45)^(a)		14,157		13,748,879
3.75%, 03/03/47 (Call 09/03/46)^(a)		15,477		15,152,639
4.38%, 12/05/33 (Call 06/05/33)		8,119		8,722,314
5.95%, 08/15/37		17,809		22,458,132
McKesson Corp., 3.80%, 03/15/24 (Call 12/15/23)^(a)		4,250		4,266,762
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)^(a)		10,893		11,356,335
Merck & Co. Inc.
2.35%, 02/10/22^(a)		2,810		2,780,272
2.40%, 09/15/22 (Call 06/15/22)^(a)		7,942		7,830,170
2.75%, 02/10/25 (Call 11/10/24)^(a)		35,181		34,456,472
2.80%, 05/18/23		14,917		14,846,159
3.70%, 02/10/45 (Call 08/10/44)^(a)		30,407		28,941,027
4.15%, 05/18/43^(a)		8,933		9,133,339
Mylan Inc.
4.55%, 04/15/28 (Call 01/15/28)		13,049		12,306,815
5.20%, 04/15/48 (Call 10/15/47)		2,475		2,105,816
Mylan NV
3.95%, 06/15/26 (Call 03/15/26)^(a)		32,740		30,576,269
3.95%, 06/15/26 (Call 03/15/26)^(b)		1,937		1,811,037
5.25%, 06/15/46 (Call 12/15/45)^(a)		7,957		6,863,469
Novartis Capital Corp.
2.40%, 05/17/22 (Call 04/17/22)		10,528		10,402,795
2.40%, 09/21/22^(a)		20,989		20,658,979
3.00%, 11/20/25 (Call 08/20/25)^(a)		11,326		11,260,225
3.10%, 05/17/27 (Call 02/17/27)^(a)		9,462		9,328,455
3.40%, 05/06/24^(a)		30,111		30,795,137
4.00%, 11/20/45 (Call 05/20/45)^(a)		19,956		19,976,688
4.40%, 05/06/44^(a)		21,062		22,391,735
Pfizer Inc.
2.20%, 12/15/21^(a)		3,007		2,966,589
2.75%, 06/03/26		26,054		25,149,825
3.00%, 06/15/23^(a)		14,875		14,973,172
3.00%, 12/15/26^(a)		34,056		33,328,094
3.20%, 09/15/23 (Call 08/15/23)		6,468		6,558,433
3.40%, 05/15/24^(a)		17,271		17,723,452
3.60%, 09/15/28 (Call 06/15/28)		12,380		12,593,426
4.00%, 12/15/36		14,137		14,263,865
4.10%, 09/15/38 (Call 03/15/38)^(a)		1,890		1,925,287
4.13%, 12/15/46		10,426		10,547,822
4.20%, 09/15/48 (Call 03/15/48)^(a)		18,669		19,177,497
4.30%, 06/15/43		11,383		11,771,864
4.40%, 05/15/44		5,279		5,548,217
7.20%, 03/15/39^(a)		22,576		31,827,597
Sanofi, 3.38%, 06/19/23 (Call 05/19/23)^(a)		4,037		4,099,778


Security	Par (000)		Value

Pharmaceuticals (continued)
Shire Acquisitions Investments Ireland DAC
2.40%, 09/23/21 (Call 08/23/21)^(a)	$	3,046	$	2,973,373
2.88%, 09/23/23 (Call 07/23/23)^(a)		25,798		24,951,057
3.20%, 09/23/26 (Call 06/23/26)		34,344		32,292,966
Takeda Pharmaceutical Co. Ltd.
4.40%, 11/26/23 (Call 10/26/23)^(b)		14,600		15,086,088
5.00%, 11/26/28 (Call 08/26/28)^(a)(b)		22,885		23,958,036
Wyeth LLC
5.95%, 04/01/37		18,774		23,153,032
6.50%, 02/01/34		10,007		12,969,563
Zoetis Inc.
3.00%, 09/12/27 (Call 06/12/27)		10,028		9,349,453
3.25%, 02/01/23 (Call 11/01/22)^(a)		18,707		18,633,734
3.95%, 09/12/47 (Call 03/12/47)		903		815,389
4.50%, 11/13/25 (Call 08/13/25)		9,198		9,632,065
4.70%, 02/01/43 (Call 08/01/42)^(a)		11,770		11,992,856

				2,570,718,066

Pipelines — 3.6%
Andeavor Logistics LP/Tesoro Logistics Finance Corp.
4.25%, 12/01/27 (Call 09/01/27)^(a)		1,525		1,498,674
5.25%, 01/15/25 (Call 01/15/21)		1,850		1,890,899
Columbia Pipeline Group Inc., 4.50%, 06/01/25 (Call 03/01/25)		9,647		9,842,205
Enable Midstream Partners LP, 4.95%, 05/15/28 (Call 02/15/28)		13,127		13,014,974
Enbridge Inc.
4.00%, 10/01/23 (Call 07/01/23)		1,275		1,297,792
4.25%, 12/01/26 (Call 09/01/26)^(a)		10,080		10,272,694
5.50%, 12/01/46 (Call 06/01/46)^(a)		9,816		11,162,920
Energy Transfer Operating LP
3.60%, 02/01/23 (Call 11/01/22)		6,750		6,720,313
4.05%, 03/15/25 (Call 12/15/24)^(a)		12,510		12,426,640
4.50%, 04/15/24 (Call 03/15/24)		10,000		10,285,687
4.75%, 01/15/26 (Call 10/15/25)^(a)		9,671		9,854,058
4.95%, 06/15/28 (Call 03/15/28)^(a)		3,837		3,921,225
5.15%, 03/15/45 (Call 09/15/44)^(a)		13,275		12,373,310
5.20%, 02/01/22 (Call 11/01/21)		2,422		2,521,610
5.25%, 04/15/29 (Call 01/15/29)^(a)		15,029		15,696,441
5.30%, 04/15/47 (Call 10/15/46)		18,206		17,168,232
6.13%, 12/15/45 (Call 06/15/45)^(a)		10,419		10,759,005
6.25%, 04/15/49 (Call 10/15/48)		20,955		22,427,105
6.50%, 02/01/42 (Call 08/01/41)^(a)		12,923		13,949,487
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)^(a)		11,354		11,746,820
Energy Transfer Partners LP/Regency Energy Finance Corp., 5.88%, 03/01/22 (Call 12/01/21)		8,036		8,514,400
Enterprise Products Operating LLC
3.35%, 03/15/23 (Call 12/15/22)^(a)		15,215		15,253,337
3.70%, 02/15/26 (Call 11/15/25)^(a)		9,133		9,147,582
3.75%, 02/15/25 (Call 11/15/24)^(a)		14,021		14,206,090
3.90%, 02/15/24 (Call 11/15/23)^(a)		12,139		12,412,880
3.95%, 02/15/27 (Call 11/15/26)		10		10,156
4.15%, 10/16/28 (Call 07/16/28)^(a)		11,855		12,165,845
4.25%, 02/15/48 (Call 08/15/47)^(a)		15,602		14,638,940
4.45%, 02/15/43 (Call 08/15/42)^(a)		12,984		12,564,869
4.80%, 02/01/49 (Call 08/01/48)		12,280		12,502,785
4.85%, 08/15/42 (Call 02/15/42)		11,904		12,039,503
4.85%, 03/15/44 (Call 09/15/43)^(a)		16,308		16,675,693
4.90%, 05/15/46 (Call 11/15/45)^(a)		8,964		9,216,892
5.10%, 02/15/45 (Call 08/15/44)		16,079		16,943,328
5.95%, 02/01/41		10,201		11,645,372


Security	Par (000)		Value

Pipelines (continued)
EQM Midstream Partners LP
4.75%, 07/15/23 (Call 06/15/23)	$	2,073	$	2,085,312
5.50%, 07/15/28 (Call 04/15/28)		12,675		12,629,127
Kinder Morgan Energy Partners LP
3.95%, 09/01/22 (Call 06/01/22)^(a)		8,220		8,360,136
5.50%, 03/01/44 (Call 09/01/43)		10,254		10,588,405
6.95%, 01/15/38		12,632		15,102,914
Kinder Morgan Inc./DE
3.15%, 01/15/23 (Call 12/15/22)^(a)		10,645		10,532,041
4.30%, 06/01/25 (Call 03/01/25)^(a)		16,991		17,416,093
4.30%, 03/01/28 (Call 12/01/27)^(a)		14,065		14,205,715
5.05%, 02/15/46 (Call 08/15/45)		7,946		7,827,704
5.20%, 03/01/48 (Call 09/01/47)^(a)		12,167		12,310,912
5.30%, 12/01/34 (Call 06/01/34)		14,741		15,318,847
5.55%, 06/01/45 (Call 12/01/44)^(a)		17,350		18,208,214
7.75%, 01/15/32		11,181		14,047,342
MPLX LP
4.00%, 03/15/28 (Call 12/15/27)^(a)		14,567		14,089,977
4.13%, 03/01/27 (Call 12/01/26)^(a)		14,631		14,341,115
4.50%, 07/15/23 (Call 04/15/23)^(a)		13,820		14,306,995
4.50%, 04/15/38 (Call 10/15/37)		18,382		16,909,723
4.70%, 04/15/48 (Call 10/15/47)		17,826		16,276,648
4.80%, 02/15/29 (Call 11/15/28)		9,628		9,861,720
4.88%, 12/01/24 (Call 09/01/24)		17,694		18,480,845
4.88%, 06/01/25 (Call 03/01/25)^(a)		14,753		15,363,702
5.20%, 03/01/47 (Call 09/01/46)^(a)		9,343		9,131,592
5.50%, 02/15/49 (Call 08/15/48)		19,151		19,620,027
ONEOK Inc., 4.55%, 07/15/28 (Call 04/15/28)^(a)		10,353		10,499,831
ONEOK Partners LP, 3.38%, 10/01/22 (Call 07/01/22)		8,912		8,917,441
Plains All American Pipeline LP/PAA Finance Corp.
3.60%, 11/01/24 (Call 08/01/24)		7,451		7,260,576
3.65%, 06/01/22 (Call 03/01/22)		6,917		6,908,166
4.50%, 12/15/26 (Call 09/15/26)^(a)		5,034		5,035,981
4.65%, 10/15/25 (Call 07/15/25)^(a)		17,035		17,442,234
Sabine Pass Liquefaction LLC
4.20%, 03/15/28 (Call 09/15/27)		21,040		20,752,335
5.00%, 03/15/27 (Call 09/15/26)		13,437		13,946,895
5.63%, 04/15/23 (Call 01/15/23)^(a)		19,687		20,993,390
5.63%, 03/01/25 (Call 12/01/24)^(a)		18,479		19,969,241
5.75%, 05/15/24 (Call 02/15/24)^(a)		19,536		21,125,287
5.88%, 06/30/26 (Call 12/31/25)^(a)		23,667		25,817,372
6.25%, 03/15/22 (Call 12/15/21)^(a)		4,362		4,666,497
Spectra Energy Partners LP, 4.75%, 03/15/24 (Call 12/15/23)		3,893		4,076,363
Sunoco Logistics Partners Operations LP
4.00%, 10/01/27 (Call 07/01/27)^(a)		13,288		12,729,382
5.35%, 05/15/45 (Call 11/15/44)		9,279		8,770,244
5.40%, 10/01/47 (Call 04/01/47)^(a)		17,354		16,588,999
TransCanada PipeLines Ltd.
2.50%, 08/01/22^(a)		11,901		11,672,519
4.25%, 05/15/28 (Call 02/15/28)^(a)		16,372		16,691,468
4.63%, 03/01/34 (Call 12/01/33)		15,164		15,426,907
4.88%, 01/15/26 (Call 10/15/25)^(a)		12,742		13,468,104
4.88%, 05/15/48 (Call 11/15/47)^(a)		12,427		12,505,555
5.10%, 03/15/49 (Call 09/15/48)^(a)		12,635		13,052,980
6.10%, 06/01/40^(a)		11,319		12,970,624
6.20%, 10/15/37		12,408		14,229,280
7.63%, 01/15/39^(a)		13,842		18,196,790
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/26 (Call 11/01/25)^(a)		10,450		12,804,162


Security	Par (000)		Value

Pipelines (continued)
Williams Companies Inc. (The)
3.35%, 08/15/22 (Call 05/15/22)	$	10,078	$	10,025,198
3.60%, 03/15/22 (Call 01/15/22)		14,204		14,287,792
3.75%, 06/15/27 (Call 03/15/27)		18,735		18,171,341
3.90%, 01/15/25 (Call 10/15/24)^(a)		8,525		8,543,988
4.00%, 09/15/25 (Call 06/15/25)		8,995		9,044,718
4.30%, 03/04/24 (Call 12/04/23)^(a)		16,244		16,631,065
4.85%, 03/01/48 (Call 09/01/47)^(a)		8,290		7,934,135
5.10%, 09/15/45 (Call 03/15/45)		12,611		12,486,553
6.30%, 04/15/40^(a)		16,690		18,805,676

				1,166,231,958

Real Estate Investment Trusts — 1.3%
American Tower Corp.
3.38%, 10/15/26 (Call 07/15/26)		12,552		11,996,717
3.50%, 01/31/23^(a)		12,858		12,838,764
3.55%, 07/15/27 (Call 04/15/27)		7,023		6,732,665
4.00%, 06/01/25 (Call 03/01/25)		13,499		13,609,435
5.00%, 02/15/24		17,194		18,220,753
Boston Properties LP
2.75%, 10/01/26 (Call 07/01/26)		13,324		12,328,858
3.20%, 01/15/25 (Call 10/15/24)^(a)		8,019		7,782,698
3.65%, 02/01/26 (Call 11/03/25)^(a)		6,739		6,640,460
3.85%, 02/01/23 (Call 11/01/22)		11,852		12,030,194
4.50%, 12/01/28 (Call 09/01/28)^(a)		8,280		8,599,518
CC Holdings GS V LLC/Crown Castle GS III Corp., 3.85%, 04/15/23		12,941		13,028,251
Crown Castle International Corp.
3.15%, 07/15/23 (Call 06/15/23)^(a)		9,368		9,177,491
3.20%, 09/01/24 (Call 07/01/24)		8,726		8,467,194
3.65%, 09/01/27 (Call 06/01/27)^(a)		20,206		19,407,758
3.70%, 06/15/26 (Call 03/15/26)^(a)		11,329		11,038,080
3.80%, 02/15/28 (Call 11/15/27)^(a)		18,571		17,976,238
4.45%, 02/15/26 (Call 11/15/25)^(a)		12,583		12,834,228
4.88%, 04/15/22		5,811		6,040,218
5.25%, 01/15/23^(a)		15,768		16,650,333
Digital Realty Trust LP, 3.70%, 08/15/27 (Call 05/15/27)^(a)		12,874		12,409,897
ERP Operating LP
4.50%, 07/01/44 (Call 01/01/44)^(a)		11,073		11,398,999
4.63%, 12/15/21 (Call 09/15/21)^(a)		2,037		2,114,896
GLP Capital LP/GLP Financing II Inc.
5.25%, 06/01/25 (Call 03/01/25)		11,382		11,767,215
5.30%, 01/15/29 (Call 10/15/28)		12,023		12,193,011
5.38%, 04/15/26		12,697		13,087,423
HCP Inc.
3.88%, 08/15/24 (Call 05/17/24)^(a)		9,703		9,723,717
4.00%, 06/01/25 (Call 03/01/25)^(a)		11,288		11,324,972
4.25%, 11/15/23 (Call 08/15/23)^(a)		6,303		6,425,782
Realty Income Corp.
3.25%, 10/15/22 (Call 07/15/22)		3,282		3,293,367
4.65%, 08/01/23 (Call 05/01/23)^(a)		100		105,142
Simon Property Group LP
3.25%, 11/30/26 (Call 08/30/26)^(a)		15,789		15,381,664
3.30%, 01/15/26 (Call 10/15/25)^(a)		19,482		19,140,621
3.38%, 10/01/24 (Call 07/01/24)^(a)		16,710		16,778,935
3.38%, 06/15/27 (Call 03/15/27)		5,863		5,740,327
3.38%, 12/01/27 (Call 09/01/27)		2,054		2,009,858
Welltower Inc., 4.00%, 06/01/25 (Call 03/01/25)		12,501		12,605,528


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Weyerhaeuser Co., 7.38%, 03/15/32	$	19,559	$	24,934,099

				415,835,306

Retail — 3.5%
Costco Wholesale Corp.
2.30%, 05/18/22 (Call 04/18/22)^(a)		7,970		7,878,997
2.75%, 05/18/24 (Call 03/18/24)		16,523		16,398,078
3.00%, 05/18/27 (Call 02/18/27)^(a)		14,200		13,859,437
Dollar General Corp., 3.25%, 04/15/23 (Call 01/15/23)^(a)		18,507		18,268,443
Dollar Tree Inc.
3.70%, 05/15/23 (Call 04/15/23)^(a)		7,506		7,439,221
4.00%, 05/15/25 (Call 03/15/25)^(a)		6,799		6,673,041
4.20%, 05/15/28 (Call 02/15/28)^(a)		23,782		22,569,199
Home Depot Inc. (The)
2.13%, 09/15/26 (Call 06/15/26)^(a)		13,815		12,710,944
2.63%, 06/01/22 (Call 05/01/22)^(a)		14,629		14,578,259
2.70%, 04/01/23 (Call 01/01/23)^(a)		12,955		12,925,295
2.80%, 09/14/27 (Call 06/14/27)^(a)		13,523		13,011,833
3.00%, 04/01/26 (Call 01/01/26)^(a)		12,100		11,867,766
3.35%, 09/15/25 (Call 06/15/25)^(a)		12,098		12,273,729
3.50%, 09/15/56 (Call 03/15/56)^(a)		4,601		4,014,283
3.75%, 02/15/24 (Call 11/15/23)^(a)		12,634		13,093,195
3.90%, 12/06/28 (Call 09/06/28)		5,910		6,141,092
3.90%, 06/15/47 (Call 12/15/46)^(a)		6,529		6,304,252
4.20%, 04/01/43 (Call 10/01/42)^(a)		15,014		15,128,898
4.25%, 04/01/46 (Call 10/01/45)^(a)		16,661		16,952,596
4.40%, 03/15/45 (Call 09/15/44)		14,541		15,039,130
4.50%, 12/06/48 (Call 06/06/48)^(a)		20,105		21,231,471
4.88%, 02/15/44 (Call 08/15/43)^(a)		14,675		16,138,652
5.88%, 12/16/36^(a)		31,204		37,872,713
5.95%, 04/01/41 (Call 10/01/40)		13,951		17,292,029
Lowe’s Companies Inc.
2.50%, 04/15/26 (Call 01/15/26)^(a)		12,554		11,479,799
3.10%, 05/03/27 (Call 02/03/27)^(a)		20,526		19,363,551
3.12%, 04/15/22 (Call 01/15/22)^(a)		5,914		5,904,371
3.38%, 09/15/25 (Call 06/15/25)		4,432		4,332,525
3.70%, 04/15/46 (Call 10/15/45)^(a)		14,678		12,399,826
4.05%, 05/03/47 (Call 11/03/46)^(a)		19,582		17,452,179
4.38%, 09/15/45 (Call 03/15/45)^(a)		12,131		11,294,017
4.65%, 04/15/42 (Call 10/15/41)		14,276		13,880,115
Macy’s Retail Holdings Inc., 2.88%, 02/15/23 (Call 11/15/22)^(a)		13,068		12,170,623
McDonald’s Corp.
2.63%, 01/15/22^(a)		11,403		11,315,951
3.35%, 04/01/23 (Call 03/01/23)^(a)		10,964		11,049,663
3.50%, 03/01/27 (Call 12/01/26)^(a)		11,698		11,551,665
3.70%, 01/30/26 (Call 10/30/25)^(a)		20,019		20,166,182
3.80%, 04/01/28 (Call 01/01/28)		15,068		15,035,217
4.45%, 03/01/47 (Call 09/01/46)^(a)		10,973		10,690,428
4.45%, 09/01/48 (Call 03/01/48)^(a)		8,655		8,417,849
4.70%, 12/09/35 (Call 06/09/35)^(a)		11,951		12,282,340
4.88%, 12/09/45 (Call 06/09/45)^(a)		23,086		23,756,584
6.30%, 10/15/37^(a)		12,982		15,480,113
6.30%, 03/01/38^(a)		5,913		7,072,121
O’Reilly Automotive Inc., 3.60%, 09/01/27 (Call 06/01/27)		2,290		2,218,660
Starbucks Corp.
3.10%, 03/01/23 (Call 02/01/23)^(a)		6,728		6,712,450
3.50%, 03/01/28 (Call 12/01/27)^(a)		1,298		1,268,051
3.80%, 08/15/25 (Call 06/15/25)^(a)		16,956		17,184,569


Security	Par (000)		Value

Retail (continued)
3.85%, 10/01/23 (Call 07/01/23)^(a)	$	5,875	$	6,001,556
4.00%, 11/15/28 (Call 08/15/28)^(a)		8,160		8,259,147
4.50%, 11/15/48 (Call 05/15/48)^(a)		15,505		14,944,744
Target Corp.
2.50%, 04/15/26^(a)		11,604		11,041,099
2.90%, 01/15/22^(a)		8,957		9,007,842
3.50%, 07/01/24^(a)		14,849		15,226,984
3.63%, 04/15/46		14,123		12,696,628
3.90%, 11/15/47 (Call 05/15/47)^(a)		10,081		9,486,894
4.00%, 07/01/42^(a)		16,356		15,841,368
TJX Companies Inc. (The), 2.25%, 09/15/26
(Call 06/15/26)^(a)		13,797		12,737,308
Walgreen Co., 3.10%, 09/15/22^(a)		10,688		10,655,332
Walgreens Boots Alliance Inc.
3.30%, 11/18/21 (Call 09/18/21)^(a)		2,120		2,131,592
3.45%, 06/01/26 (Call 03/01/26)^(a)		29,957		28,678,624
3.80%, 11/18/24 (Call 08/18/24)^(a)		24,953		25,021,688
4.80%, 11/18/44 (Call 05/18/44)^(a)		16,463		15,355,496
Walmart Inc.
2.35%, 12/15/22 (Call 11/15/22)		18,295		18,014,964
2.55%, 04/11/23 (Call 01/11/23)^(a)		25,693		25,433,249
2.65%, 12/15/24 (Call 10/15/24)^(a)		11,909		11,729,772
3.30%, 04/22/24 (Call 01/22/24)^(a)		29,517		30,018,795
3.40%, 06/26/23 (Call 05/26/23)		38,899		39,652,466
3.55%, 06/26/25 (Call 04/26/25)^(a)		25,825		26,490,983
3.63%, 12/15/47 (Call 06/15/47)^(a)		17,585		16,449,929
3.70%, 06/26/28 (Call 03/26/28)^(a)		38,036		38,956,110
3.95%, 06/28/38 (Call 12/28/37)		17,624		17,688,028
4.00%, 04/11/43 (Call 10/11/42)^(a)		1,327		1,318,741
4.05%, 06/29/48 (Call 12/29/47)		36,030		36,332,407
4.30%, 04/22/44 (Call 10/22/43)		1,851		1,924,074
5.25%, 09/01/35^(a)		25,186		29,324,183
5.63%, 04/01/40^(a)		3,311		4,005,946
5.63%, 04/15/41^(a)		5,583		6,784,173
5.88%, 04/05/27		1,302		1,529,199
6.20%, 04/15/38^(a)		2,614		3,307,768

				1,128,188,491

Semiconductors — 1.7%
Analog Devices Inc.
3.50%, 12/05/26 (Call 09/05/26)^(a)		13,622		13,106,966
3.90%, 12/15/25 (Call 09/15/25)		11,750		11,743,494
Applied Materials Inc.
3.30%, 04/01/27 (Call 01/01/27)^(a)		18,969		18,727,690
4.35%, 04/01/47 (Call 10/01/46)^(a)		9,888		9,918,652
Broadcom Corp./Broadcom Cayman Finance Ltd.
2.65%, 01/15/23 (Call 12/15/22)		9,246		8,805,138
3.00%, 01/15/22 (Call 12/15/21)^(a)		7,280		7,148,185
3.13%, 01/15/25 (Call 11/15/24)		20,544		19,033,406
3.50%, 01/15/28 (Call 10/15/27)^(a)		17,309		15,422,701
3.63%, 01/15/24 (Call 11/15/23)^(a)		28,604		27,790,411
3.88%, 01/15/27 (Call 10/15/26)		57,950		53,644,315
Intel Corp.
2.35%, 05/11/22 (Call 04/11/22)^(a)		10,506		10,363,780
2.60%, 05/19/26 (Call 02/19/26)^(a)		13,859		13,283,882
2.70%, 12/15/22^(a)		19,359		19,268,946
2.88%, 05/11/24 (Call 03/11/24)^(a)		12,861		12,727,923
3.10%, 07/29/22^(a)		12,122		12,247,025
3.15%, 05/11/27 (Call 02/11/27)^(a)		14,856		14,739,692
3.70%, 07/29/25 (Call 04/29/25)^(a)		28,233		29,061,972
3.73%, 12/08/47 (Call 06/08/47)^(a)		18,153		17,306,407


Security	Par (000)		Value

Semiconductors (continued)
4.00%, 12/15/32^(a)	$	18,230	$	19,360,743
4.10%, 05/19/46 (Call 11/19/45)^(a)		20,340		20,506,011
4.10%, 05/11/47 (Call 11/11/46)^(a)		22,089		22,195,559
4.80%, 10/01/41^(a)		2,215		2,454,890
4.90%, 07/29/45 (Call 01/29/45)		1,840		2,081,310
NVIDIA Corp.
2.20%, 09/16/21 (Call 08/16/21)^(a)		2,226		2,182,080
3.20%, 09/16/26 (Call 06/16/26)		13,784		13,391,859
QUALCOMM Inc.
2.60%, 01/30/23 (Call 12/30/22)		13,701		13,355,409
2.90%, 05/20/24 (Call 03/20/24)^(a)		17,164		16,589,275
3.00%, 05/20/22^(a)		18,003		17,918,451
3.25%, 05/20/27 (Call 02/20/27)^(a)		20,253		19,129,406
3.45%, 05/20/25 (Call 02/20/25)^(a)		24,960		24,546,308
4.30%, 05/20/47 (Call 11/20/46)		16,856		15,118,199
4.65%, 05/20/35 (Call 11/20/34)^(a)		18,156		17,724,759
4.80%, 05/20/45 (Call 11/20/44)		21,978		21,133,555
Texas Instruments Inc., 4.15%, 05/15/48 (Call 11/15/47)^(a)		22,184		22,606,674

				564,635,073

Software — 3.8%
Fidelity National Information Services Inc.
2.25%, 08/15/21 (Call 07/15/21)		76		73,846
3.00%, 08/15/26 (Call 05/15/26)^(a)		15,202		14,171,842
3.50%, 04/15/23 (Call 01/15/23)^(a)		2,024		2,011,057
5.00%, 10/15/25 (Call 07/15/25)		11,525		12,131,842
Fiserv Inc.
3.80%, 10/01/23 (Call 09/01/23)		2,286		2,295,652
3.85%, 06/01/25 (Call 03/01/25)^(a)		8,601		8,616,314
4.20%, 10/01/28 (Call 07/01/28)		3,220		3,180,042
Microsoft Corp.
2.00%, 08/08/23 (Call 06/08/23)^(a)		30,189		29,214,493
2.13%, 11/15/22^(a)		5,979		5,881,091
2.38%, 02/12/22 (Call 01/12/22)^(a)		1,995		1,976,640
2.38%, 05/01/23 (Call 02/01/23)^(a)		13,375		13,206,732
2.40%, 08/08/26 (Call 05/08/26)^(a)		42,720		40,542,156
2.65%, 11/03/22 (Call 09/03/22)^(a)		9,768		9,751,123
2.70%, 02/12/25 (Call 11/12/24)^(a)		33,308		32,799,653
2.88%, 02/06/24 (Call 12/06/23)^(a)		33,602		33,592,343
3.13%, 11/03/25 (Call 08/03/25)^(a)		20,532		20,652,285
3.30%, 02/06/27 (Call 11/06/26)^(a)		37,026		37,241,162
3.45%, 08/08/36 (Call 02/08/36)		19,870		19,284,222
3.50%, 02/12/35 (Call 08/12/34)		11,230		10,981,368
3.50%, 11/15/42^(a)		7,034		6,643,543
3.63%, 12/15/23 (Call 09/15/23)^(a)		24,919		25,836,777
3.70%, 08/08/46 (Call 02/08/46)^(a)		52,657		51,372,869
3.75%, 02/12/45 (Call 08/12/44)^(a)		23,875		23,400,243
3.95%, 08/08/56 (Call 02/08/56)^(a)		36,000		35,370,277
4.00%, 02/12/55 (Call 08/12/54)		19,594		19,455,063
4.10%, 02/06/37 (Call 08/06/36)		27,813		29,051,502
4.20%, 11/03/35 (Call 05/03/35)^(a)		19,661		20,780,466
4.45%, 11/03/45 (Call 05/03/45)^(a)		38,118		41,491,710
4.50%, 10/01/40^(a)		17,751		19,302,207
4.50%, 02/06/57 (Call 08/06/56)		29,925		32,610,613
4.75%, 11/03/55 (Call 05/03/55)^(a)		8,513		9,596,836
5.20%, 06/01/39		4,554		5,386,135
5.30%, 02/08/41		14,849		17,754,177
Series 30Y, 4.25%, 02/06/47 (Call 08/06/46)^(a)		31,501		33,273,379


Security	Par (000)		Value

Software (continued)
Oracle Corp.
1.90%, 09/15/21 (Call 08/15/21)^(a)	$	1,478	$	1,445,146
2.40%, 09/15/23 (Call 07/15/23)^(a)		25,163		24,449,727
2.50%, 05/15/22 (Call 03/15/22)^(a)		26,187		25,868,008
2.50%, 10/15/22		25,170		24,834,363
2.63%, 02/15/23 (Call 01/15/23)		19,160		18,893,983
2.65%, 07/15/26 (Call 04/15/26)		40,442		38,408,875
2.95%, 11/15/24 (Call 09/15/24)^(a)		29,752		29,421,982
2.95%, 05/15/25 (Call 02/15/25)^(a)		27,849		27,357,913
3.25%, 11/15/27 (Call 08/15/27)^(a)		47,301		46,552,528
3.40%, 07/08/24 (Call 04/08/24)^(a)		31,315		31,673,929
3.63%, 07/15/23^(a)		14,208		14,563,379
3.80%, 11/15/37 (Call 05/15/37)^(a)		20,334		19,491,237
3.85%, 07/15/36 (Call 01/15/36)^(a)		20,745		20,080,268
3.90%, 05/15/35 (Call 11/15/34)^(a)		13,184		12,907,564
4.00%, 07/15/46 (Call 01/15/46)		50,065		47,873,069
4.00%, 11/15/47 (Call 05/15/47)^(a)		24,871		23,798,926
4.13%, 05/15/45 (Call 11/15/44)^(a)		27,361		26,717,518
4.30%, 07/08/34 (Call 01/08/34)^(a)		12,209		12,688,483
4.38%, 05/15/55 (Call 11/15/54)		4,039		4,021,457
4.50%, 07/08/44 (Call 01/08/44)^(a)		11,350		11,726,329
5.38%, 07/15/40^(a)		26,939		30,934,905
6.13%, 07/08/39^(a)		6,766		8,374,545
6.50%, 04/15/38^(a)		11,977		15,313,277
salesforce.com Inc.
3.25%, 04/11/23 (Call 03/11/23)		9,782		9,891,502
3.70%, 04/11/28 (Call 01/11/28)^(a)		17,920		18,361,000
VMware Inc.
2.95%, 08/21/22 (Call 07/21/22)		9,389		9,193,666
3.90%, 08/21/27 (Call 05/21/27)		25,142		23,460,739

				1,247,233,978

Telecommunications — 6.8%
AT&T Inc.
2.63%, 12/01/22 (Call 09/01/22)^(a)		10,039		9,803,009
3.00%, 02/15/22^(a)		16,911		16,829,565
3.00%, 06/30/22 (Call 04/30/22)		10,370		10,278,409
3.20%, 03/01/22 (Call 02/01/22)		12,036		12,030,309
3.40%, 05/15/25 (Call 02/15/25)^(a)		61,977		60,401,638
3.60%, 02/17/23 (Call 12/17/22)^(a)		20,955		21,091,040
3.80%, 03/15/22^(a)		12,188		12,385,146
3.80%, 03/01/24 (Call 01/01/24)^(a)		14,766		14,893,273
3.90%, 03/11/24 (Call 12/11/23)^(a)		8,931		9,047,753
3.95%, 01/15/25 (Call 10/15/24)		19,401		19,464,362
4.10%, 02/15/28 (Call 11/15/27)		26,534		26,148,774
4.13%, 02/17/26 (Call 11/17/25)^(a)		29,907		29,944,518
4.25%, 03/01/27 (Call 12/01/26)^(a)		32,686		32,836,990
4.30%, 02/15/30 (Call 11/15/29)		35,792		35,126,806
4.30%, 12/15/42 (Call 06/15/42)^(a)		28,291		24,792,156
4.35%, 03/01/29 (Call 12/01/28)		21,829		21,683,922
4.35%, 06/15/45 (Call 12/15/44)^(a)		30,948		26,930,860
4.45%, 04/01/24 (Call 01/01/24)		19,497		20,192,932
4.50%, 05/15/35 (Call 11/15/34)^(a)		39,975		37,628,883
4.50%, 03/09/48 (Call 09/09/47)^(a)		60,884		54,346,751
4.55%, 03/09/49 (Call 09/09/48)^(a)		30,680		27,428,945
4.75%, 05/15/46 (Call 11/15/45)^(a)		36,741		34,108,302
4.80%, 06/15/44 (Call 12/15/43)^(a)		33,425		31,381,609
4.85%, 03/01/39 (Call 09/01/38)		24,807		23,669,150
4.90%, 08/15/37 (Call 02/14/37)		10,306		9,981,625
5.15%, 03/15/42^(a)		15,544		15,261,357
5.15%, 11/15/46 (Call 05/15/46)^(a)		28,231		27,537,288


Security	Par (000)		Value

Telecommunications (continued)
5.15%, 02/15/50 (Call 08/14/49)^(a)	$	25,146	$	24,290,395
5.25%, 03/01/37 (Call 09/01/36)		29,228		29,430,179
5.35%, 09/01/40^(a)		20,032		20,077,443
5.45%, 03/01/47 (Call 09/01/46)^(a)		20,474		20,852,077
5.55%, 08/15/41		4,812		4,925,384
5.65%, 02/15/47 (Call 08/15/46)^(a)		18,973		19,779,749
5.70%, 03/01/57 (Call 09/01/56)		14,658		14,889,853
6.00%, 08/15/40 (Call 05/15/40)^(a)		17,367		18,692,882
6.30%, 01/15/38^(a)		252		280,577
6.38%, 03/01/41^(a)		4,022		4,547,568
British Telecommunications PLC, 9.63%, 12/15/30		24,414		34,113,411
Cisco Systems Inc.
2.20%, 09/20/23 (Call 07/20/23)^(a)		22,128		21,563,926
2.50%, 09/20/26 (Call 06/20/26)^(a)		9,597		9,121,301
2.95%, 02/28/26^(a)		13,234		13,005,323
3.63%, 03/04/24^(a)		20,664		21,399,665
5.50%, 01/15/40^(a)		19,635		24,009,236
5.90%, 02/15/39^(a)		18,093		23,104,300
Deutsche Telekom International Finance BV, 8.75%, 06/15/30		45,411		60,549,542
Motorola Solutions Inc., 3.75%, 05/15/22		1,732		1,737,014
Orange SA
4.13%, 09/14/21^(a)		3,685		3,802,532
5.38%, 01/13/42^(a)		7,875		8,527,190
5.50%, 02/06/44 (Call 08/06/43)^(a)		7,334		8,034,144
9.00%, 03/01/31^(a)		31,775		44,573,376
Rogers Communications Inc.
4.10%, 10/01/23 (Call 07/01/23)^(a)		15,343		15,891,848
4.30%, 02/15/48 (Call 08/15/47)^(a)		5,559		5,382,907
5.00%, 03/15/44 (Call 09/15/43)^(a)		11,219		11,874,523
Telefonica Emisiones SAU
4.10%, 03/08/27^(a)		16,015		15,753,030
4.57%, 04/27/23^(a)		7,082		7,368,638
4.67%, 03/06/38^(a)		14,357		13,225,387
4.90%, 03/06/48^(a)		15,956		14,707,106
5.21%, 03/08/47		29,183		27,986,870
5.52%, 03/01/49 (Call 09/01/48)		5,000		4,987,500
7.05%, 06/20/36^(a)		20,053		23,534,901
Telefonica Europe BV, 8.25%, 09/15/30^(a)		8,971		11,590,209
Verizon Communications Inc.
2.63%, 08/15/26^(a)		38,450		35,915,138
3.38%, 02/15/25		29,092		29,091,395
3.50%, 11/01/24 (Call 08/01/24)		21,360		21,566,970
3.85%, 11/01/42 (Call 05/01/42)^(a)		8,556		7,694,341
3.88%, 02/08/29 (Call 11/08/28)^(a)		3,025		3,023,719
4.02%, 12/03/29^(b)		46,170		46,311,280
4.13%, 03/16/27^(a)		43,670		44,662,440
4.13%, 08/15/46		15,764		14,556,487
4.27%, 01/15/36^(a)		35,266		34,492,112
4.33%, 09/21/28^(a)		139,186		143,932,799
4.40%, 11/01/34 (Call 05/01/34)^(a)		17,204		17,271,810
4.50%, 08/10/33^(a)		34,460		35,217,279
4.52%, 09/15/48^(a)		52,703		51,486,820
4.67%, 03/15/55		52,018		50,480,785
4.75%, 11/01/41		8,257		8,371,835
4.81%, 03/15/39^(a)		13,119		13,466,076
4.86%, 08/21/46^(a)		59,250		60,886,645
5.01%, 04/15/49		43,368		45,559,745
5.01%, 08/21/54^(a)		49,496		50,622,811
5.15%, 09/15/23		3,692		4,007,923


Security	Par (000)		Value

Telecommunications (continued)
5.25%, 03/16/37^(a)	$	25,154	$	27,362,174
5.50%, 03/16/47^(a)		12,623		14,102,373
6.55%, 09/15/43^(a)		7,751		9,555,797
Vodafone Group PLC
2.50%, 09/26/22^(a)		7,302		7,080,073
2.95%, 02/19/23^(a)		20,648		20,183,905
3.75%, 01/16/24^(a)		23,804		23,729,622
4.13%, 05/30/25^(a)		20,783		20,868,547
4.38%, 05/30/28^(a)		34,450		34,074,002
4.38%, 02/19/43^(a)		15,473		13,251,577
5.00%, 05/30/38^(a)		13,286		12,666,556
5.25%, 05/30/48^(a)		34,754		33,187,220
6.15%, 02/27/37^(a)		25,786		27,640,975

				2,211,156,589

Transportation — 1.3%
Burlington Northern Santa Fe LLC
3.85%, 09/01/23 (Call 06/01/23)^(a)		3,783		3,913,995
3.90%, 08/01/46 (Call 02/01/46)^(a)		13,749		13,259,776
4.05%, 06/15/48 (Call 12/15/47)		5,986		5,878,017
4.13%, 06/15/47 (Call 12/15/46)^(a)		7,686		7,660,276
4.15%, 04/01/45 (Call 10/01/44)^(a)		12,764		12,799,673
4.15%, 12/15/48 (Call 06/15/48)^(a)		13,234		13,313,851
4.45%, 03/15/43 (Call 09/15/42)		12,898		13,407,063
4.55%, 09/01/44 (Call 03/01/44)^(a)		12,749		13,369,718
4.90%, 04/01/44 (Call 10/01/43)^(a)		5,101		5,612,576
5.75%, 05/01/40 (Call 11/01/39)^(a)		11,719		14,089,456
Cie. de Chemin de Fer Canadien Pacifique, 6.13%, 09/15/15 (Call 03/15/15)^(a)		3,756		4,360,565
CSX Corp.
2.60%, 11/01/26 (Call 08/01/26)^(a)		439		405,515
3.25%, 06/01/27 (Call 03/01/27)^(a)		18,172		17,486,436
3.80%, 03/01/28 (Call 12/01/27)^(a)		4,636		4,616,765
3.80%, 11/01/46 (Call 05/01/46)^(a)		3,790		3,392,899
4.10%, 03/15/44 (Call 09/15/43)		12,696		11,937,571
4.25%, 03/15/29 (Call 12/15/28)		5,000		5,145,300
4.30%, 03/01/48 (Call 09/01/47)^(a)		10,839		10,467,919
FedEx Corp.
3.25%, 04/01/26 (Call 01/01/26)^(a)		10,009		9,718,173
4.00%, 01/15/24^(a)		5,988		6,164,782
4.05%, 02/15/48 (Call 08/15/47)		23,545		20,419,552
4.40%, 01/15/47 (Call 07/15/46)^(a)		10,646		9,683,103
4.55%, 04/01/46 (Call 10/01/45)		13,578		12,687,560
4.75%, 11/15/45 (Call 05/15/45)^(a)		18,660		17,958,259
4.95%, 10/17/48 (Call 04/17/48)^(a)		1,763		1,744,884
5.10%, 01/15/44^(a)		10,754		10,842,262
Union Pacific Corp.
3.70%, 03/01/29 (Call 12/01/28)^(a)		7,175		7,139,208
3.80%, 10/01/51 (Call 04/01/51)^(a)		10,120		8,927,607
3.95%, 09/10/28 (Call 06/10/28)^(a)		30,569		31,232,390
4.16%, 07/15/22 (Call 04/15/22)^(a)		6,939		7,182,306
4.30%, 03/01/49 (Call 09/01/48)^(a)		5,025		4,903,415
4.38%, 09/10/38 (Call 03/10/38)		12,648		12,608,045
4.50%, 09/10/48 (Call 03/10/48)		11,784		11,852,695


Security	Par/ Shares (000)		Value

Transportation (continued)
United Parcel Service Inc.
2.45%, 10/01/22	$	5,181	$	5,136,032
2.50%, 04/01/23 (Call 03/01/23)		16,386		16,111,340
3.05%, 11/15/27 (Call 08/15/27)^(a)		14,497		14,139,729
3.75%, 11/15/47 (Call 05/15/47)^(a)		11,264		10,388,800
6.20%, 01/15/38		21,940		27,248,763

				407,206,276

Water — 0.1%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)^(a)		21,031		19,396,349
6.59%, 10/15/37^(a)		1,912		2,438,005

				21,834,354


Total Corporate Bonds & Notes — 98.8% (Cost: $33,040,812,554)				32,138,442,972


U.S. Government Obligations

U.S. Government Obligations — 0.0%
U.S. Treasury Note/Bond, 3.00%, 02/15/48^(a)		10,000		9,830,402


Total U.S. Government Obligations — 0.0% (Cost: $9,932,523)				9,830,402


Short-Term Investments

Money Market Funds — 10.0%
BlackRock Cash Funds: Institutional, SL Agency Shares, 2.62%^(f)(g)(h)		3,058,759		3,059,982,217
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.33%^(f)(g)		188,176		188,176,431

				3,248,158,648


Total Short-Term Investments — 10.0% (Cost: $3,247,032,129)				3,248,158,648


Total Investments in Securities — 108.8% (Cost: $36,297,777,206)				35,396,432,022

Other Assets, Less Liabilities — (8.8)%				(2,876,458,632	)


Net Assets — 100.0%			$	32,519,973,390

^(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. Reference index and spread are provided if the rate is currently floating.

^(d)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

^(f)	Affiliate of the Fund.

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

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

Investments in issuers considered to be affiliates of the Fund during the year ended February 28, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

For the year ended February 28, 2019, 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.

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”):

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.

Foreign Currency Translation: The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in non-U.S. currencies are translated to U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.

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 February 28, 2019, if any, are disclosed in the statement of assets and liabilities.

In August 2018, the Financial Accounting Standards Board issued Accounting Standards Update 2018-13 “Changes to the Disclosure Requirements for Fair Value Measurement” which modifies disclosure requirements for fair value measurements. The guidance is effective for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years. Management is currently evaluating the impact of this guidance to the Funds.

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 Global Valuation Committee employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of the Trust’s pricing vendors, regular reviews of key inputs and assumptions, transactional back-testing or disposition analysis to compare unrealized gains and losses to realized gains and losses, reviews of missing or stale prices and large movements in market values, and reviews of any market related activity. The pricing of all Fair Valued Investments is subsequently reported to the Board on a quarterly basis.

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

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. 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.

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 February 28, 2019, 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 February 28, 2019 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 28, 2019:

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 if 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.

Futures Contracts: The iShares iBoxx $ Investment Grade Corporate Bond ETF used futures contracts to mitigate or maintain duration risk in line with its underlying index as securities were purchased and sold. Futures contracts are standardized, exchange-traded agreements to buy or sell a specific quantity of an underlying instrument at a set price on a future date. Depending on the terms of a contract, a futures contract 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.

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.

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. Prior to January 1, 2019, the Fund retained 80% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 a given 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 and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees. Prior to January 1, 2019, the Fund was subject to the same terms under the previous securities lending fee arrangement.

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 28, 2019, 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.

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

For the year ended February 28, 2019, 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 28, 2019, purchases and sales of investments, excluding in-kind transactions and short-term investments, were as follows:

Management has analyzed tax laws and regulations and their application to the Funds as of February 28, 2019, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.

U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of February 28, 2019, the following permanent differences attributable to realized gains (losses) from in-kind redemptions were reclassified to the following accounts:

As of February 28, 2019, the tax components of accumulated net earnings (losses) were as follows:

As of February 28, 2019, 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:

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.

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 price 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.

When a fund concentrates its investments in securities within a single or limited number of market sectors, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund’s portfolio.

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 U.S. Preferred Stock 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. Plaintiffs have appealed the court’s decision.

On August 17, 2018, the SEC adopted amendments to certain disclosure requirements in Securities Act Release No. 33-10532, Disclosure Update and Simplification. The Funds have adopted the amendments pertinent to Regulation S-X in this shareholder report. The amendments impacted certain disclosure presentation on the statement of assets and liabilities, statement of changes in net assets and notes to the financial statements.

Prior year distribution information and undistributed net investment income in the statement of changes in net assets has been modified to conform to the current year presentation in accordance with the Regulation S-X changes.

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of iShares iBoxx $ High Yield Corporate Bond ETF and iShares iBoxx $ Investment Grade Corporate Bond ETF (two of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of February 28, 2019, the related statements of operations for the year ended February 28, 2019, the statements of changes in net assets for each of the two years in the period ended February 28, 2019, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2019 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of February 28, 2019, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended February 28, 2019 and each of the financial highlights for each of the five years in the period ended February 28, 2019 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.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of February 28, 2019 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 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 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 BofAML 10+ Year US Corporate Index plus interest rate swaps that intend to hedge the interest rate exposure of the ICE BofAML 10+ Year US Corporate Index.

The Fund posted a relatively flat overall return for the reporting period. While the Fund’s securities gained significantly, this was offset by the strong negative impact of the interest rate hedge. On an unhedged basis, long-term investment-grade corporate bonds advanced significantly amid strong demand from investors seeking higher yields than those available from government securities, with relatively low risk.

Consumer non-cyclical companies contributed the most to the Fund’s performance, particularly in the pharmaceuticals, food products, and beverages industries. Pharmaceutical company debt gained as drug makers issued bonds to raise capital for merger and acquisition activity and to expand efforts to innovate new products. Food and beverage company bonds also advanced amid growing consumer spending on online food delivery services.

Financial bonds, notably in the banking industry, also contributed significantly to the Fund’s return. Debt issued by banks advanced, as strong balance sheets gave investors confidence that banks would be relatively resilient in the case of an economic downturn. Issuance of new bonds was relatively low, which helped to reduce yields, as supply was insufficient to meet investor demand. Communications companies also made a substantial contribution to the Index’s performance, especially in the wirelines industry. As large telecommunications companies took steps to reduce debt, their bond prices surged.

Declining interest rates meant negative returns 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, falling 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 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 long-term corporate bonds, independent of falling interest rates.


Security	Shares		Value

Investment Companies

Exchange-Traded Funds — 92.6%
iShares Long-Term Corporate Bond ETF^(a)		828,526	$	55,146,691


Total Investment Companies — 92.6% (Cost: $49,229,420)				55,146,691


Short-Term Investments

Money Market Funds — 2.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(a)(b)		1,336,000		1,336,000


Total Short-Term Investments — 2.2% (Cost: $1,336,000)				1,336,000


Total Investments in Securities — 94.8% (Cost: $50,565,420)				56,482,691

Other Assets, Less Liabilities — 5.2%				3,075,524


Net Assets — 100.0%			$	59,558,215

Investments in issuers considered to be affiliates of the Fund during the year ended October 31, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

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

As of October 31, 2019, the fair values of derivative financial instruments located in the Statement of Assets and Liabilities were as follows:

For the year ended October 31, 2019, 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 should be read in conjunction with the Fund’s financial statements.

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.

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 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.

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 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.

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, 2019, 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, 2019 and the value of the related cash collateral are disclosed in the statement of assets and liabilities.

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.

Swap agreements are privately negotiated in the over-the-counter market and may be entered into as a bilateral contract or centrally cleared (“centrally cleared swaps”). The Fund enters into 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. The daily change in valuation of centrally cleared swaps is recorded as variation margin receivable or payable on centrally cleared swaps in the statement of assets and liabilities. Payments received from (paid to) the counterparty, including at termination, are recorded as realized gains (losses) in the statement of operations. Payments received from (paid to) the counterparty are amortized over the term of the contract as a realized gain (loss) in the statement of operations.

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 Long-Term 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 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.

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.

Prior to January 1, 2019, the Fund retained 80% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 the iShares ETF Complex in a calendar year exceeded a specified threshold, the Fund, pursuant to the securities lending agreement, retained for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees), and the amount retained could 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, 2019, the Fund paid BTC $3,610 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, 2019, 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 October 31, 2019, 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 October 31, 2019, the following permanent differences attributable to realized gains (losses) from in-kind redemptions, were reclassified to the following accounts:

As of October 31, 2019, 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. The Fund’s prospectus provides details of the risks to which the Fund is subject.

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.

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, 2019, the related statement of operations for the year ended October 31, 2019, the statement of changes in net assets for each of the two years in the period ended October 31, 2019, including the related notes, and the financial highlights for each of the four years in the period ended October 31, 2019 and for the period July 22, 2015 (commencement of operations) through October 31, 2015 (hereafter 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, 2019, 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, 2019 and the financial highlights for each of the four years in the period ended October 31, 2019 and for the period July 22, 2015 (commencement of operations) to October 31, 2015 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, 2019 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, 2019, 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, 2019:

The following distribution amounts are hereby designated for the fiscal year ended October 31, 2019:

I. iShares Interest Rate Hedged Long-Term Corporate Bond ETF (the “Fund”)

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 Trustees who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Trustees”), is required annually to consider and approve the Investment Advisory Contract between the Trust and BFA (the “Advisory Contract”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Trustees) 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 Trustees requested, and BFA provided, such information as the Independent Trustees, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Contract. At meetings on May 6, 2019 and May 17, 2019, a committee composed of all of the Independent Trustees (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 their independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 17-19, 2019, the Board, including the Independent Trustees, reviewed the additional information provided by management in response to these requests.

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 by BFA: 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 to 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 17-19, 2019 meeting and throughout the 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 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 ETF, 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 increased 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 BFAaffiliate 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 Trustees, 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.

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.

Premium/discount information for the Fund covering the most recently completed calendar year and the most recently completed calendar quarters since that year (or since the Fund began trading, if shorter) is publicly accessible, free of charge, at iShares.com.

The following information shows the frequency of distributions of premiums and discounts for the Fund for the immediately preceding five calendar years (or from the date the Fund began trading on the secondary market, if less than five years) through the date of the most recent calendar quarter-end. Each line in the table shows the number of trading days in which the Fund traded within the premium/discount range indicated. Premium/discount ranges with no trading days are omitted. The number of trading days in each premium/discount range is also shown as a percentage of the total number of trading days in the period covered by each table. All data presented here represents past performance, which cannot be used to predict future results.

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, and for reporting periods ended prior to March 31, 2019, filed such information on Form N-Q. The iShares Fund’s Forms N-Q 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.


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)^(a)	$	95	$	115,170


Aerospace & Defense — 2.0%
BAE Systems Holdings Inc., 4.75%, 10/07/44^(b)		465		543,721
BAE Systems PLC, 5.80%, 10/11/41		25		32,765
Boeing Co. (The) 2.95%, 02/01/30 (Call 11/01/29)		250		256,082
3.25%, 02/01/35 (Call 11/01/34)		425		445,248
3.38%, 06/15/46 (Call 12/15/45)^(a)		205		206,126
3.50%, 03/01/39 (Call 09/01/38)		495		514,489
3.50%, 03/01/45 (Call 09/01/44)		25		24,786
3.55%, 03/01/38 (Call 09/01/37)		280		294,251
3.60%, 05/01/34 (Call 02/01/34)		1,125		1,222,036
3.65%, 03/01/47 (Call 09/01/46)		225		234,538
3.75%, 02/01/50 (Call 08/01/49)		1,285		1,368,724
3.83%, 03/01/59 (Call 09/01/58)		250		266,833
3.85%, 11/01/48 (Call 05/01/48)		585		628,545
3.90%, 05/01/49 (Call 11/01/48)		250		271,454
3.95%, 08/01/59 (Call 02/01/59)		720		786,357
5.88%, 02/15/40		150		201,870
6.13%, 02/15/33		50		66,143
6.63%, 02/15/38		156		222,917
6.88%, 03/15/39		982		1,457,415
General Dynamics Corp., 3.60%, 11/15/42 (Call 05/15/42)^(a)		200		221,192
L3Harris Technologies Inc. 4.85%, 04/27/35 (Call 10/27/34)^(a)		525		623,054
5.05%, 04/27/45 (Call 10/27/44)		265		331,822
6.15%, 12/15/40		130		176,206
Lockheed Martin Corp. 3.60%, 03/01/35 (Call 09/01/34)^(a)		1,114		1,209,390
3.80%, 03/01/45 (Call 09/01/44)		1,441		1,585,612
4.07%, 12/15/42		720		830,000
4.09%, 09/15/52 (Call 03/15/52)		1,490		1,735,825
4.50%, 05/15/36 (Call 11/15/35)^(a)		735		877,212
4.70%, 05/15/46 (Call 11/15/45)		978		1,231,038
5.72%, 06/01/40		50		67,515
Series B, 6.15%, 09/01/36^(a)		150		208,011
Northrop Grumman Corp. 3.85%, 04/15/45 (Call 10/15/44)		675		737,374
4.03%, 10/15/47 (Call 04/15/47)^(a)		1,570		1,766,417
4.75%, 06/01/43		790		967,107
5.05%, 11/15/40^(a)		200		247,747
Northrop Grumman Systems Corp., 7.75%, 02/15/31		425		616,795
Raytheon Co. 4.20%, 12/15/44 (Call 06/15/44)		100		116,455
4.70%, 12/15/41^(a)		150		186,689
4.88%, 10/15/40		322		403,098
Rockwell Collins Inc. 4.35%, 04/15/47 (Call 10/15/46)		1,030		1,203,023
4.80%, 12/15/43 (Call 06/15/43)		330		402,580
United Technologies Corp. 3.75%, 11/01/46 (Call 05/01/46)		960		1,064,635
4.05%, 05/04/47 (Call 11/04/46)		685		791,344
4.15%, 05/15/45 (Call 11/16/44)		820		940,364
4.45%, 11/16/38 (Call 05/16/38)^(a)		699		829,351
4.50%, 06/01/42		2,025		2,429,920
4.63%, 11/16/48 (Call 05/16/48)		1,570		1,981,632


Security	Par (000)		Value

Aerospace & Defense (continued)
5.40%, 05/01/35	$	121	$	155,409
5.70%, 04/15/40		870		1,161,618
6.05%, 06/01/36		190		255,249
6.13%, 07/15/38		1,300		1,801,527

				36,199,511

Agriculture — 1.4%
Altria Group Inc. 3.88%, 09/16/46 (Call 03/16/46)		1,130		1,047,271
4.25%, 08/09/42		825		804,049
4.50%, 05/02/43^(a)		890		896,115
5.38%, 01/31/44		1,587		1,774,286
5.80%, 02/14/39 (Call 08/14/38)		550		632,348
5.95%, 02/14/49 (Call 08/14/48)^(a)		1,390		1,635,081
6.20%, 02/14/59 (Call 08/14/58)		1,015		1,189,074
Archer-Daniels-Midland Co. 3.75%, 09/15/47 (Call 03/15/47)		415		458,149
4.02%, 04/16/43		489		559,726
4.50%, 03/15/49 (Call 09/15/48)		535		668,967
4.54%, 03/26/42		663		812,684
5.38%, 09/15/35		10		12,740
BAT Capital Corp. 4.39%, 08/15/37 (Call 02/15/37)		2,135		2,108,456
4.54%, 08/15/47 (Call 02/15/47)		1,665		1,610,256
Cargill Inc., 3.88%, 05/23/49 (Call 11/23/48)^(b)		750		860,945
Philip Morris International Inc. 3.88%, 08/21/42		779		794,701
4.13%, 03/04/43		846		906,231
4.25%, 11/10/44		860		948,169
4.38%, 11/15/41		952		1,046,035
4.50%, 03/20/42		635		704,252
4.88%, 11/15/43		655		771,439
6.38%, 05/16/38		1,235		1,687,867
Reynolds American Inc. 5.70%, 08/15/35 (Call 02/15/35)		646		729,691
5.85%, 08/15/45 (Call 02/15/45)		1,781		1,980,225
6.15%, 09/15/43		390		441,781
7.25%, 06/15/37		518		658,574

				25,739,112

Apparel — 0.1%
NIKE Inc. 3.38%, 11/01/46 (Call 05/01/46)		300		316,860
3.63%, 05/01/43 (Call 11/01/42)		520		567,607
3.88%, 11/01/45 (Call 05/01/45)		730		835,218
VF Corp., 6.45%, 11/01/37		150		214,394

				1,934,079

Auto Manufacturers — 0.7%
Daimler Finance North America LLC, 8.50%, 01/18/31		1,276		1,925,871
Ford Holdings LLC, 9.30%, 03/01/30		746		930,683
Ford Motor Co. 4.75%, 01/15/43		1,043		906,791
5.29%, 12/08/46 (Call 06/08/46)		800		739,167
7.40%, 11/01/46^(a)		499		565,846
7.45%, 07/16/31		1,125		1,307,913
General Motors Co. 5.00%, 04/01/35		723		737,597
5.15%, 04/01/38 (Call 10/01/37)		918		930,310
5.20%, 04/01/45^(a)		895		889,253
5.40%, 04/01/48 (Call 10/01/47)		900		913,696
5.95%, 04/01/49 (Call 10/01/48)		464		510,433


Security	Par (000)		Value

Auto Manufacturers (continued)
6.25%, 10/02/43	$	1,042	$	1,164,226
6.60%, 04/01/36 (Call 10/01/35)		955		1,108,691
6.75%, 04/01/46 (Call 10/01/45)		545		628,998

				13,259,475

Auto Parts & Equipment — 0.1%
Aptiv PLC
4.40%, 10/01/46 (Call 04/01/46)		100		97,223
5.40%, 03/15/49 (Call 09/15/48)		406		458,191
BorgWarner Inc., 4.38%, 03/15/45 (Call 09/15/44)^(a)		295		304,614
Lear Corp., 5.25%, 05/15/49 (Call 11/15/48)		360		368,757

				1,228,785

Banks — 7.7%
Bank of America Corp.
3.95%, 01/23/49 (Call 01/23/48)^(a)(c)(d)		1,185		1,337,410
4.08%, 04/23/40 (Call 04/23/39)^(c)(d)		1,395		1,567,393
4.24%, 04/24/38 (Call 04/24/37)^(c)(d)		1,336		1,517,231
4.33%, 03/15/50 (Call 03/15/49)^(a)(c)(d)		1,264		1,501,667
4.44%, 01/20/48 (Call 01/20/47)^(c)(d)		1,389		1,669,473
4.88%, 04/01/44		855		1,075,619
5.00%, 01/21/44		1,457		1,857,305
5.88%, 02/07/42		708		996,942
6.11%, 01/29/37		1,510		2,004,945
7.75%, 05/14/38		1,365		2,104,730
Series L, 4.75%, 04/21/45		568		697,630
Bank of America N.A., 6.00%, 10/15/36		1,500		2,051,753
Barclays PLC
4.95%, 01/10/47		1,570		1,833,856
5.25%, 08/17/45		1,080		1,295,784
BNP Paribas SA, 7.20%, (Call 06/25/37)^(b)(c)(d)(e)		500		556,250
Citigroup Inc.
3.88%, 01/24/39 (Call 01/24/38)^(c)(d)		1,283		1,409,823
4.28%, 04/24/48 (Call 04/24/47)^(a)(c)(d)		1,228		1,451,412
4.65%, 07/30/45		950		1,162,630
4.65%, 07/23/48 (Call 06/23/48)		1,799		2,218,933
4.75%, 05/18/46		1,920		2,256,677
5.30%, 05/06/44		850		1,068,059
5.88%, 02/22/33		325		405,693
5.88%, 01/30/42		747		1,030,355
6.00%, 10/31/33		523		667,343
6.13%, 08/25/36		482		632,000
6.63%, 06/15/32		851		1,131,373
6.68%, 09/13/43		580		841,657
6.88%, 03/05/38		110		157,564
8.13%, 07/15/39		1,130		1,858,927
Commonwealth Bank of Australia
3.74%, 09/12/39^(a)(b)		480		481,496
3.90%, 07/12/47^(a)(b)		554		627,328
4.32%, 01/10/48^(a)(b)		820		905,431
Cooperatieve Rabobank UA
5.25%, 05/24/41		1,168		1,610,675
5.25%, 08/04/45		1,751		2,220,396
5.75%, 12/01/43		740		983,201
Credit Suisse Group Funding Guernsey Ltd., 4.88%, 05/15/45		1,656		2,059,269
Fifth Third Bancorp., 8.25%, 03/01/38		895		1,374,368
First Republic Bank/CA
4.38%, 08/01/46 (Call 02/01/46)		600		671,697
4.63%, 02/13/47		395		457,463


Security	Par (000)		Value

Banks (continued)
Goldman Sachs Group Inc. (The)
4.02%, 10/31/38 (Call 10/31/37)^(c)(d)	$	1,795	$	1,937,987
4.41%, 04/23/39 (Call 04/23/38)^(c)(d)		1,860		2,100,943
4.75%, 10/21/45 (Call 04/21/45)		1,634		1,991,606
4.80%, 07/08/44 (Call 01/08/44)		1,895		2,304,244
5.15%, 05/22/45		1,395		1,697,697
6.13%, 02/15/33		225		301,326
6.25%, 02/01/41		1,805		2,528,785
6.45%, 05/01/36		155		203,053
6.75%, 10/01/37		4,130		5,619,594
HSBC Bank USA N.A., 7.00%, 01/15/39		265		383,708
HSBC Bank USA N.A./New York NY
5.63%, 08/15/35		865		1,079,811
5.88%, 11/01/34		150		194,230
HSBC Holdings PLC
5.25%, 03/14/44^(a)		595		746,086
6.10%, 01/14/42		953		1,358,476
6.50%, 05/02/36		2,150		2,889,117
6.50%, 09/15/37		2,490		3,387,434
6.80%, 06/01/38		1,580		2,224,738
7.63%, 05/17/32		419		584,501
JPMorgan Chase & Co.
3.88%, 07/24/38 (Call 07/24/37)^(c)(d)		2,275		2,491,891
3.90%, 01/23/49 (Call 01/23/48)^(c)(d)		1,540		1,709,041
3.96%, 11/15/48 (Call 11/15/47)^(c)(d)		2,110		2,361,256
4.03%, 07/24/48 (Call 07/24/47)^(a)(c)(d)		1,530		1,731,196
4.26%, 02/22/48 (Call 02/22/47)^(c)(d)		1,395		1,628,023
4.85%, 02/01/44		645		813,090
4.95%, 06/01/45		1,625		2,019,576
5.40%, 01/06/42		605		796,847
5.50%, 10/15/40		1,315		1,737,444
5.60%, 07/15/41		965		1,295,846
5.63%, 08/16/43		1,528		2,031,177
6.40%, 05/15/38		1,915		2,726,173
Lloyds Banking Group PLC
4.34%, 01/09/48^(a)		1,455		1,540,673
5.30%, 12/01/45		435		527,330
Mitsubishi UFJ Financial Group Inc.
3.75%, 07/18/39		625		674,814
4.15%, 03/07/39		655		742,129
4.29%, 07/26/38		790		908,526
Morgan Stanley
3.97%, 07/22/38 (Call 07/22/37)^(c)(d)		1,296		1,419,004
4.30%, 01/27/45^(a)		1,590		1,848,854
4.38%, 01/22/47		2,115		2,494,753
4.46%, 04/22/39 (Call 04/22/38)^(a)(c)(d)		1,200		1,392,818
6.38%, 07/24/42		1,375		2,016,661
7.25%, 04/01/32		623		890,843
Regions Bank/Birmingham AL, 6.45%, 06/26/37		410		540,210
Regions Financial Corp., 7.38%, 12/10/37		380		546,115
Santander UK Group Holdings PLC, 5.63%, 09/15/45^(a)(b).		695		841,099
Societe Generale SA, 5.63%, 11/24/45^(b)		80		96,602
Standard Chartered PLC
5.30%, 01/09/43^(a)(b)		400		469,848
5.70%, 03/26/44^(a)(b)		1,715		2,131,328
UBS AG/London, 4.50%, 06/26/48^(b)		785		997,199
Wachovia Corp.
5.50%, 08/01/35^(a)		887		1,126,208
6.55%, 10/15/35		260		339,526
7.50%, 04/15/35		125		176,858


Security	Par (000)		Value

Banks (continued)
Wells Fargo & Co.
3.90%, 05/01/45	$	1,422	$	1,606,945
4.40%, 06/14/46		1,740		1,972,898
4.65%, 11/04/44		1,720		2,026,115
4.75%, 12/07/46		1,690		2,018,591
4.90%, 11/17/45		1,900		2,298,982
5.38%, 02/07/35		385		493,646
5.38%, 11/02/43		1,510		1,912,551
5.61%, 01/15/44		1,760		2,304,181
Wells Fargo Bank N.A.
5.95%, 08/26/36		270		358,873
6.60%, 01/15/38		1,060		1,524,132
Wells Fargo Capital X, 5.95%, 12/01/86		668		838,357
Westpac Banking Corp., 4.42%, 07/24/39		575		632,928

				142,336,251

Beverages — 3.0%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc.
4.70%, 02/01/36 (Call 08/01/35)		4,467		5,186,712
4.90%, 02/01/46 (Call 08/01/45)		5,780		6,933,473
Anheuser-Busch InBev Finance Inc.
4.00%, 01/17/43		265		281,092
4.63%, 02/01/44		1,232		1,402,232
4.70%, 02/01/36 (Call 08/01/35)^(a)		580		673,448
4.90%, 02/01/46 (Call 08/01/45)		1,399		1,662,574
Anheuser-Busch InBev Worldwide Inc.
3.75%, 07/15/42^(a)		735		753,322
4.38%, 04/15/38 (Call 10/15/37)		580		647,879
4.44%, 10/06/48 (Call 04/06/48)		1,025		1,150,519
4.60%, 04/15/48 (Call 10/15/47)		2,018		2,302,731
4.75%, 04/15/58 (Call 10/15/57)		875		1,029,035
4.90%, 01/23/31 (Call 10/23/30)		1,223		1,467,940
4.95%, 01/15/42^(a)		535		635,390
5.45%, 01/23/39 (Call 07/23/38)		1,620		2,039,832
5.55%, 01/23/49 (Call 07/23/48)		3,060		4,041,060
5.80%, 01/23/59 (Call 07/23/58)		2,485		3,348,334
8.00%, 11/15/39		315		495,715
8.20%, 01/15/39		627		1,000,240
Bacardi Ltd.
5.15%, 05/15/38 (Call 11/15/37)^(b)		300		328,628
5.30%, 05/15/48 (Call 11/15/47)^(a)(b)		475		534,972
Brown-Forman Corp.
4.00%, 04/15/38 (Call 10/15/37)		75		84,958
4.50%, 07/15/45 (Call 01/15/45)		213		264,300
Coca-Cola FEMSA SAB de CV, 5.25%, 11/26/43		306		384,508
Constellation Brands Inc.
4.10%, 02/15/48 (Call 08/15/47)^(a)		415		439,801
4.50%, 05/09/47 (Call 11/09/46)		750		833,591
5.25%, 11/15/48 (Call 05/15/48)		473		583,825
Diageo Capital PLC
3.88%, 04/29/43 (Call 10/29/42)^(a)		635		722,325
5.88%, 09/30/36		525		725,804
Diageo Investment Corp.
4.25%, 05/11/42		810		954,221
7.45%, 04/15/35		11		16,771
Fomento Economico Mexicano SAB de CV, 4.38%, 05/10/43		330		373,931
Keurig Dr Pepper Inc.
4.42%, 12/15/46 (Call 06/15/46)		525		567,825
4.50%, 11/15/45 (Call 05/15/45)		375		415,845


Security	Par (000)		Value

Beverages (continued)
4.99%, 05/25/38 (Call 11/25/37)	$	770	$	906,836
5.09%, 05/25/48 (Call 11/25/47)		475		571,030
Molson Coors Brewing Co.
4.20%, 07/15/46 (Call 01/15/46)^(a)		1,362		1,345,985
5.00%, 05/01/42		1,120		1,219,347
PepsiCo Inc.
3.38%, 07/29/49 (Call 01/29/49)		695		741,971
3.45%, 10/06/46 (Call 04/06/46)		1,430		1,555,314
3.60%, 08/13/42^(a)		455		498,875
4.00%, 03/05/42		832		972,973
4.00%, 05/02/47 (Call 11/02/46)^(a)		1,120		1,327,725
4.25%, 10/22/44 (Call 04/22/44)		715		846,063
4.45%, 04/14/46 (Call 10/14/45)		1,439		1,816,050
4.60%, 07/17/45 (Call 01/17/45)		200		253,003
Pernod Ricard SA, 5.50%, 01/15/42^(a)(b)		250		314,473

				54,652,478

Biotechnology — 1.4%
Amgen Inc.
4.40%, 05/01/45 (Call 11/01/44)		2,610		2,936,253
4.56%, 06/15/48 (Call 12/15/47)^(a)		900		1,034,460
4.66%, 06/15/51 (Call 12/15/50)		2,495		2,916,950
4.95%, 10/01/41		840		997,345
5.15%, 11/15/41 (Call 05/15/41)		930		1,130,096
5.65%, 06/15/42 (Call 12/15/41)		115		145,388
5.75%, 03/15/40^(a)		320		402,051
6.38%, 06/01/37^(a)		315		427,788
6.40%, 02/01/39		30		40,681
6.90%, 06/01/38		75		106,228
Baxalta Inc., 5.25%, 06/23/45 (Call 12/23/44)^(a)		205		264,602
Biogen Inc., 5.20%, 09/15/45 (Call 03/15/45)		1,375		1,686,176
Celgene Corp.
4.35%, 11/15/47 (Call 05/15/47)		585		682,509
4.55%, 02/20/48 (Call 08/20/47)		795		966,122
4.63%, 05/15/44 (Call 11/15/43)		360		434,688
5.00%, 08/15/45 (Call 02/15/45)		974		1,240,251
5.25%, 08/15/43		370		470,913
5.70%, 10/15/40		250		321,116
Gilead Sciences Inc.
4.00%, 09/01/36 (Call 03/01/36)		415		463,296
4.15%, 03/01/47 (Call 09/01/46)^(a)		945		1,050,153
4.50%, 02/01/45 (Call 08/01/44)		1,520		1,747,954
4.60%, 09/01/35 (Call 03/01/35)^(a)		1,025		1,209,478
4.75%, 03/01/46 (Call 09/01/45)		1,538		1,840,955
4.80%, 04/01/44 (Call 10/01/43)		1,700		2,023,699
5.65%, 12/01/41 (Call 06/01/41)		980		1,284,933

				25,824,085

Building Materials — 0.3%
CRH America Finance Inc.
4.40%, 05/09/47 (Call 11/09/46)^(b)		100		106,029
4.50%, 04/04/48 (Call 10/04/47)^(b)		600		653,213
Johnson Controls International PLC
4.50%, 02/15/47 (Call 08/15/46)		470		510,337
4.63%, 07/02/44 (Call 01/02/44)		577		623,481
4.95%, 07/02/64 (Call 01/02/64)^(f)		415		436,909
5.13%, 09/14/45 (Call 03/14/45)		43		50,636
6.00%, 01/15/36		135		166,517
Martin Marietta Materials Inc., 4.25%, 12/15/47 (Call 06/15/47)^(a)		690		704,916
Masco Corp., 4.50%, 05/15/47 (Call 11/15/46)		495		506,164


Security	Par (000)		Value

Building Materials (continued)
Owens Corning 4.30%, 07/15/47 (Call 01/15/47)	$	952	$	878,625
4.40%, 01/30/48 (Call 07/30/47)		175		163,580
7.00%, 12/01/36		124		159,584
Vulcan Materials Co. 4.50%, 06/15/47 (Call 12/15/46)		405		441,977
4.70%, 03/01/48 (Call 09/01/47)^(a)		605		677,648

				6,079,616

Chemicals — 1.7%
Albemarle Corp., 5.45%, 12/01/44 (Call 06/01/44)		480		566,124
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)^(b)		200		236,219
Dow Chemical Co. (The) 4.25%, 10/01/34 (Call 04/01/34)		1,315		1,412,919
4.38%, 11/15/42 (Call 05/15/42)		1,026		1,075,240
4.63%, 10/01/44 (Call 04/01/44)		390		419,589
4.80%, 05/15/49 (Call 11/15/48)^(b)		695		772,956
5.25%, 11/15/41 (Call 05/15/41)		1,209		1,406,473
5.55%, 11/30/48 (Call 05/30/48)^(b)		335		409,781
7.38%, 11/01/29		480		637,325
9.40%, 05/15/39		346		570,676
DuPont de Nemours Inc. 5.32%, 11/15/38 (Call 05/15/38)		1,700		2,039,128
5.42%, 11/15/48 (Call 05/15/48)		1,680		2,090,320
Eastman Chemical Co. 4.65%, 10/15/44 (Call 04/15/44)		794		847,702
4.80%, 09/01/42 (Call 03/01/42)		328		357,807
Ecolab Inc. 3.70%, 11/01/46 (Call 05/01/46)		175		184,726
3.95%, 12/01/47 (Call 06/01/47)		655		762,112
5.50%, 12/08/41		193		257,985
FMC Corp., 4.50%, 10/01/49 (Call 04/01/49)		275		293,804
International Flavors & Fragrances Inc. 4.38%, 06/01/47 (Call 12/01/46)		250		260,182
5.00%, 09/26/48 (Call 03/26/48)		220		255,149
Lubrizol Corp. (The), 6.50%, 10/01/34		350		496,818
LYB International Finance BV 4.88%, 03/15/44 (Call 09/15/43)		1,160		1,281,623
5.25%, 07/15/43		625		717,806
LYB International Finance III LLC, 4.20%, 10/15/49 (Call 04/15/49)		165		165,855
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)		1,028		1,075,357
Methanex Corp., 5.65%, 12/01/44 (Call 06/01/44)		415		394,265
Mosaic Co. (The) 4.88%, 11/15/41 (Call 05/15/41)		100		104,693
5.45%, 11/15/33 (Call 05/15/33)		393		450,918
5.63%, 11/15/43 (Call 05/15/43)^(a)		805		926,429
Nutrien Ltd. 4.13%, 03/15/35 (Call 09/15/34)		962		1,005,727
4.90%, 06/01/43 (Call 12/01/42)		605		674,467
5.00%, 04/01/49 (Call 10/01/48)		500		590,694
5.25%, 01/15/45 (Call 07/15/44)		224		264,267
5.63%, 12/01/40		365		437,774
5.88%, 12/01/36		191		231,202
6.13%, 01/15/41 (Call 07/15/40)		575		714,338
7.13%, 05/23/36		18		23,916
OCP SA, 6.88%, 04/25/44^(b)		200		249,375
Orbia Advance Corp. SAB de CV, 5.88%, 09/17/44^(b)		900		946,800
Praxair Inc., 3.55%, 11/07/42 (Call 05/07/42)		595		632,797


Security	Par (000)		Value

Chemicals (continued)
RPM International Inc., 4.25%, 01/15/48 (Call 07/15/47)	$	510	$	501,741
Sherwin-Williams Co. (The) 3.80%, 08/15/49 (Call 02/15/49)		365		371,001
4.00%, 12/15/42 (Call 06/15/42)		540		558,460
4.50%, 06/01/47 (Call 12/01/46)		1,370		1,536,711
4.55%, 08/01/45 (Call 02/01/45)		95		108,467
Syngenta Finance NV, 5.68%, 04/24/48 (Call 10/24/47)^(b)		970		1,012,168
Westlake Chemical Corp. 4.38%, 11/15/47 (Call 05/15/47)		480		481,599
5.00%, 08/15/46 (Call 02/15/46)		700		755,801

				31,567,286

Commercial Services — 1.0%
American University (The), Series 2019, 3.67%, 04/01/49		500		549,756
California Institute of Technology 4.32%, 08/01/45		12		15,216
4.70%, 11/01/2111		100		129,663
Cleveland Clinic Foundation (The), 4.86%, 01/01/2114^(a)		200		258,583
DP World PLC 5.63%, 09/25/48^(b)		1,250		1,446,875
6.85%, 07/02/37^(b)		1,360		1,787,550
Equifax Inc., 7.00%, 07/01/37		180		235,792
ERAC USA Finance LLC 4.20%, 11/01/46 (Call 05/01/46)^(b)		50		53,551
7.00%, 10/15/37^(a)(b)		1,915		2,714,793
George Washington University (The) 4.87%, 09/15/45		16		20,880
Series 2018, 4.13%, 09/15/48 (Call 03/15/48)		840		1,002,090
Global Payments Inc., 4.15%, 08/15/49 (Call 02/15/49)		565		589,411
Johns Hopkins University, Series 2013, 4.08%, 07/01/53		36		42,917
Leland Stanford Junior University (The), 3.65%, 05/01/48 (Call 11/01/47)		15		17,154
Massachusetts Institute of Technology 3.89%, 07/01/2116		75		86,846
3.96%, 07/01/38		59		68,245
4.68%, 07/01/2114		290		394,272
5.60%, 07/01/2111		440		717,157
Moody’s Corp., 5.25%, 07/15/44		450		576,378
Northwestern University 4.64%, 12/01/44		355		453,508
Series 2017, 3.66%, 12/01/57 (Call 06/01/57)		40		46,154
President and Fellows of Harvard College 3.15%, 07/15/46 (Call 01/15/46)		425		453,449
3.30%, 07/15/56 (Call 01/15/56)		335		365,021
Princeton University, 5.70%, 03/01/39		425		604,521
S&P Global Inc. 4.50%, 05/15/48 (Call 11/15/47)		225		278,821
6.55%, 11/15/37		191		277,673
Trustees of Boston College, 3.13%, 07/01/52		500		504,757
Trustees of Dartmouth College, 3.47%, 06/01/46		260		277,333
Trustees of the University of Pennsylvania (The), 3.61%, 12/31/99 (Call 08/15/2118)		500		543,230
Tufts University, Series 2012, 5.02%, 04/15/2112		100		127,074
University of Notre Dame du Lac
Series 2015, 3.44%, 02/15/45		139		151,667
Series 2017, 3.39%, 02/15/48 (Call 08/15/47)		655		717,247
University of Southern California 3.03%, 10/01/39		1,541		1,591,800
5.25%, 10/01/2111		250		368,972
Verisk Analytics Inc., 5.50%, 06/15/45 (Call 12/15/44)		186		232,678
Wesleyan University, 4.78%, 07/01/2116^(a)		125		145,901


Security	Par (000)		Value

Commercial Services (continued)
William Marsh Rice University 3.57%, 05/15/45	$	331	$	363,109
3.77%, 05/15/55		125		142,951

				18,352,995

Computers — 1.8%
Apple Inc. 3.45%, 02/09/45		2,294		2,432,987
3.75%, 09/12/47 (Call 03/12/47)		710		788,898
3.75%, 11/13/47 (Call 05/13/47)		960		1,082,079
3.85%, 05/04/43		1,870		2,099,059
3.85%, 08/04/46 (Call 02/04/46)^(a)		2,020		2,278,388
4.25%, 02/09/47 (Call 08/09/46)		1,150		1,377,765
4.38%, 05/13/45		1,970		2,384,068
4.45%, 05/06/44		595		725,456
4.50%, 02/23/36 (Call 08/23/35)		1,240		1,508,154
4.65%, 02/23/46 (Call 08/23/45)		1,899		2,379,914
Dell International LLC/EMC Corp. 8.10%, 07/15/36 (Call 01/15/36)^(b)		1,426		1,833,757
8.35%, 07/15/46 (Call 01/15/46)^(b)		1,340		1,784,310
Hewlett Packard Enterprise Co. 6.20%, 10/15/35 (Call 04/15/35)		765		919,629
6.35%, 10/15/45 (Call 04/15/45)		1,075		1,277,413
HP Inc., 6.00%, 09/15/41		1,219		1,404,956
International Business Machines Corp. 4.00%, 06/20/42		1,575		1,708,991
4.15%, 05/15/39		2,460		2,796,259
4.25%, 05/15/49		1,150		1,310,326
4.70%, 02/19/46^(a)		745		893,592
5.60%, 11/30/39		515		677,440
5.88%, 11/29/32		356		470,522
7.13%, 12/01/96^(a)		95		145,557
Seagate HDD Cayman, 5.75%, 12/01/34 (Call 06/01/34)		700		719,624

				32,999,144

Cosmetics & Personal Care — 0.3%
Colgate-Palmolive Co. 3.70%, 08/01/47 (Call 02/01/47)		270		317,088
4.00%, 08/15/45		330		394,114
Estee Lauder Companies Inc. (The) 3.70%, 08/15/42		50		54,361
4.15%, 03/15/47 (Call 09/15/46)		200		238,121
4.38%, 06/15/45 (Call 12/15/44)		535		652,488
6.00%, 05/15/37		255		353,400
Procter & Gamble Co. (The) 3.50%, 10/25/47		525		600,518
5.50%, 02/01/34^(a)		1,225		1,674,315
5.80%, 08/15/34		75		106,323
Unilever Capital Corp., 5.90%, 11/15/32		1,460		1,986,858

				6,377,586

Distribution & Wholesale — 0.1%
WW Grainger Inc. 3.75%, 05/15/46 (Call 11/15/45)		405		419,896
4.20%, 05/15/47 (Call 11/15/46)		465		517,977
4.60%, 06/15/45 (Call 12/15/44)		880		1,050,225

				1,988,098

Diversified Financial Services — 1.6%
American Express Co., 4.05%, 12/03/42		1,315		1,531,379
Blackstone Holdings Finance Co. LLC 3.50%, 09/10/49 (Call 03/10/49)^(b)		800		804,551
4.00%, 10/02/47 (Call 04/02/47)^(a)		225		241,708


Security	Par (000)		Value

Diversified Financial Services (continued)
4.45%, 07/15/45^(b)	$	400	$	458,695
5.00%, 06/15/44^(b)		61		74,645
Brookfield Finance Inc., 4.70%, 09/20/47 (Call 03/20/47)		1,165		1,307,748
Carlyle Holdings II Finance LLC, 5.63%, 03/30/43^(b)		215		249,301
CME Group Inc. 4.15%, 06/15/48 (Call 12/15/47)		695		838,212
5.30%, 09/15/43 (Call 03/15/43)		505		687,570
Credit Suisse USA Inc., 7.13%, 07/15/32		698		1,009,817
FMR LLC 5.15%, 02/01/43		500		634,147
6.50%, 12/14/40^(b)		500		728,124
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35		7,875		8,311,650
Invesco Finance PLC, 5.38%, 11/30/43		326		394,149
Jefferies Financial Group Inc., 6.63%, 10/23/43 (Call 07/23/43)^(a)		155		177,400
Jefferies Group LLC 6.25%, 01/15/36^(a)		345		399,844
6.50%, 01/20/43		310		365,671
Jefferies Group LLC/Jefferies Group Capital Finance Inc., 4.15%, 01/23/30		1,195		1,208,618
KKR Group Finance Co. II LLC, 5.50%, 02/01/43 (Call 08/01/42)^(a)(b)		550		674,882
Legg Mason Inc., 5.63%, 01/15/44		470		530,136
Mastercard Inc. 3.65%, 06/01/49 (Call 12/01/48)		542		612,280
3.80%, 11/21/46 (Call 05/21/46)		400		460,239
3.95%, 02/26/48 (Call 08/26/47)		700		825,816
Raymond James Financial Inc., 4.95%, 07/15/46		970		1,175,212
Visa Inc. 3.65%, 09/15/47 (Call 03/15/47)		1,104		1,243,699
4.15%, 12/14/35 (Call 06/14/35)		1,709		2,056,585
4.30%, 12/14/45 (Call 06/14/45)		2,190		2,714,852
Western Union Co. (The) 6.20%, 11/17/36^(a)		210		239,286
6.20%, 06/21/40^(a)		340		384,663

				30,340,879

Electric — 11.9%
Abu Dhabi National Energy Co. PJSC 4.88%, 04/23/30^(b)		800		906,250
6.50%, 10/27/36^(b)		1,000		1,348,750
Acwa Power Management And Investments One Ltd., 5.95%, 12/15/39^(a)(b)		225		243,633
AEP Texas Inc. 3.80%, 10/01/47 (Call 04/01/47)		50		54,130
Series G, 4.15%, 05/01/49 (Call 11/01/48)^(a)		245		285,521
AEP Transmission Co. LLC 3.75%, 12/01/47 (Call 06/01/47)		425		467,711
3.80%, 06/15/49 (Call 12/15/48)		245		271,865
4.00%, 12/01/46 (Call 06/01/46)		465		532,639
4.25%, 09/15/48 (Call 03/15/48)		320		379,752
Alabama Power Co. 3.75%, 03/01/45 (Call 09/01/44)		575		618,857
3.85%, 12/01/42		100		108,189
4.10%, 01/15/42		85		92,616
4.15%, 08/15/44 (Call 02/15/44)		302		345,248
4.30%, 01/02/46 (Call 07/02/45)		425		498,348
5.70%, 02/15/33^(a)		50		64,890
6.00%, 03/01/39		295		411,723
6.13%, 05/15/38		410		570,408


Security	Par (000)		Value

Electric (continued)
Series A, 4.30%, 07/15/48 (Call 01/15/48)^(a)	$	135	$	160,618
Series B, 3.70%, 12/01/47 (Call 06/01/47)		485		521,105
Ameren Illinois Co.
3.70%, 12/01/47 (Call 06/01/47)^(a)		640		707,833
4.15%, 03/15/46 (Call 09/15/45)		385		453,980
4.30%, 07/01/44 (Call 01/01/44)		200		228,520
4.50%, 03/15/49 (Call 09/15/48)		253		316,511
4.80%, 12/15/43 (Call 06/15/43)		250		305,406
American Transmission Systems Inc., 5.00%, 09/01/44 (Call 03/01/44)		150		192,685
Appalachian Power Co.
4.40%, 05/15/44 (Call 11/15/43)		331		383,694
4.45%, 06/01/45 (Call 12/01/44)		280		330,780
7.00%, 04/01/38^(a)		550		790,601
Series L, 5.80%, 10/01/35		197		249,236
Series P, 6.70%, 08/15/37		30		41,308
Series Y, 4.50%, 03/01/49 (Call 09/01/48)		420		507,893
Arizona Public Service Co.
3.75%, 05/15/46 (Call 11/15/45)		800		859,097
4.25%, 03/01/49 (Call 09/01/48)		610		712,254
4.35%, 11/15/45 (Call 05/15/45)		60		70,722
4.50%, 04/01/42 (Call 10/01/41)		401		470,039
5.05%, 09/01/41 (Call 03/01/41)		160		197,762
Avista Corp., 4.35%, 06/01/48 (Call 12/01/47)		100		118,409
Baltimore Gas & Electric Co.
3.20%, 09/15/49 (Call 03/15/49)		160		159,003
3.50%, 08/15/46 (Call 02/15/46)		645		669,031
3.75%, 08/15/47 (Call 02/15/47)		50		54,011
Berkshire Hathaway Energy Co.
3.80%, 07/15/48 (Call 01/15/48)		800		872,903
4.45%, 01/15/49 (Call 07/15/48)		801		960,843
4.50%, 02/01/45 (Call 08/01/44)		625		746,481
5.15%, 11/15/43 (Call 05/15/43)		671		853,977
5.95%, 05/15/37		1,105		1,523,583
6.13%, 04/01/36^(a)		1,877		2,609,175
Black Hills Corp.
3.88%, 10/15/49 (Call 04/15/49)		250		255,104
4.20%, 09/15/46 (Call 03/15/46)		200		213,399
4.35%, 05/01/33 (Call 02/01/33)		680		763,985
Celeo Redes Operacion Chile SA, 5.20%, 06/22/47		196		215,970
CenterPoint Energy Houston Electric LLC
3.55%, 08/01/42 (Call 02/01/42)		845		903,859
3.95%, 03/01/48 (Call 09/01/47)		410		475,241
4.50%, 04/01/44 (Call 10/01/43)		315		385,269
Series AC, 4.25%, 02/01/49 (Call 08/01/48)		700		849,239
CenterPoint Energy Inc., 3.70%, 09/01/49 (Call 03/01/49)		300		306,583
Cleco Corporate Holdings LLC, 4.97%, 05/01/46
(Call 11/01/45)		345		393,166
Cleveland Electric Illuminating Co. (The)
4.55%, 11/15/30 (Call 08/15/30)^(b)		100		114,099
5.95%, 12/15/36		430		550,336
CMS Energy Corp.
4.70%, 03/31/43 (Call 09/30/42)		950		1,089,587
4.88%, 03/01/44 (Call 09/01/43)		546		659,374
Cometa Energia SA de CV, 6.38%, 04/24/35
(Call 01/24/35)^(a)(b)		387		417,881
Comision Federal de Electricidad
5.75%, 02/14/42^(b)		800		871,500
6.13%, 06/16/45^(b)		400		458,625


Security	Par (000)		Value

Electric (continued)
Commonwealth Edison Co.
3.65%, 06/15/46 (Call 12/15/45)	$	380	$	414,733
3.70%, 03/01/45 (Call 09/01/44)^(a)		275		299,153
3.80%, 10/01/42 (Call 04/01/42)		350		383,538
4.00%, 03/01/48 (Call 09/01/47)		590		679,884
4.00%, 03/01/49 (Call 09/01/48)		1,085		1,259,998
4.35%, 11/15/45 (Call 05/15/45)		350		418,569
4.60%, 08/15/43 (Call 02/15/43)		150		180,883
4.70%, 01/15/44 (Call 07/15/43)		285		350,489
Series 123, 3.75%, 08/15/47 (Call 02/15/47)		300		332,919
Connecticut Light & Power Co. (The)
4.00%, 04/01/48 (Call 10/01/47)		525		617,179
4.30%, 04/15/44 (Call 10/15/43)		400		483,826
Consolidated Edison Co. of New York Inc.
3.85%, 06/15/46 (Call 12/15/45)		1,170		1,280,292
3.95%, 03/01/43 (Call 09/01/42)		425		466,841
4.45%, 03/15/44 (Call 09/15/43)		629		743,068
4.50%, 12/01/45 (Call 06/01/45)		572		681,898
4.50%, 05/15/58 (Call 11/15/57)		325		387,908
4.63%, 12/01/54 (Call 06/01/54)		798		958,062
5.70%, 06/15/40		370		495,916
Series 05-A, 5.30%, 03/01/35		125		154,564
Series 06-A, 5.85%, 03/15/36		125		164,661
Series 06-B, 6.20%, 06/15/36		290		394,412
Series 06-E, 5.70%, 12/01/36^(a)		90		116,929
Series 07-A, 6.30%, 08/15/37		125		174,262
Series 08-B, 6.75%, 04/01/38		635		924,972
Series 09-C, 5.50%, 12/01/39		440		576,705
Series 12-A, 4.20%, 03/15/42		58		65,561
Series 2017, 3.88%, 06/15/47 (Call 12/15/46)		500		548,380
Series A, 4.13%, 05/15/49 (Call 11/15/48)^(a)		585		669,272
Series C, 4.30%, 12/01/56 (Call 06/01/56)		360		408,069
Series E, 4.65%, 12/01/48 (Call 06/01/48)		420		517,844
Consumers Energy Co.
3.25%, 08/15/46 (Call 02/15/46)		450		462,575
3.95%, 05/15/43 (Call 11/15/42)		245		278,692
3.95%, 07/15/47 (Call 01/15/47)		250		289,750
4.05%, 05/15/48 (Call 11/15/47)		225		264,339
4.35%, 04/15/49 (Call 10/15/48)		335		414,571
Dayton Power & Light Co. (The), 3.95%, 06/15/49
(Call 12/15/48)^(b)		530		581,164
Delmarva Power & Light Co., 4.15%, 05/15/45
(Call 11/15/44)		250		281,060
Dominion Energy Inc.
4.70%, 12/01/44 (Call 06/01/44)		621		732,554
7.00%, 06/15/38		280		394,221
Series A, 4.60%, 03/15/49 (Call 09/15/48)		535		628,149
Series B, 5.95%, 06/15/35		490		627,765
Series C, 4.05%, 09/15/42 (Call 03/15/42)		350		376,336
Series C, 4.90%, 08/01/41 (Call 02/01/41)		592		700,202
Series E, 6.30%, 03/15/33		391		519,419
Series F, 5.25%, 08/01/33		445		546,252
Dominion Energy South Carolina Inc.
4.60%, 06/15/43 (Call 12/15/42)		381		461,413
5.10%, 06/01/65 (Call 12/01/64)		325		432,187
5.30%, 05/15/33		155		197,137
5.45%, 02/01/41 (Call 08/01/40)		380		495,584
6.05%, 01/15/38		313		427,758
6.63%, 02/01/32		375		511,478


Security	Par (000)		Value

Electric (continued)
DTE Electric Co.
3.70%, 03/15/45 (Call 09/15/44)^(a)	$	350	$	388,580
3.70%, 06/01/46 (Call 12/01/45)		135		147,777
3.75%, 08/15/47 (Call 02/15/47)		175		198,247
3.95%, 03/01/49 (Call 09/01/48)		1,280		1,479,981
4.30%, 07/01/44 (Call 01/01/44)		298		356,145
Series A, 4.00%, 04/01/43 (Call 10/01/42)		225		259,433
Series A, 4.05%, 05/15/48 (Call 11/15/47)		580		674,748
DTE Energy Co., 6.38%, 04/15/33^(a)		235		314,424
Duke Energy Carolinas LLC
3.20%, 08/15/49 (Call 02/15/49)^(a)		505		508,467
3.70%, 12/01/47 (Call 06/01/47)		340		372,149
3.75%, 06/01/45 (Call 12/01/44)		240		263,206
3.88%, 03/15/46 (Call 09/15/45)		390		439,056
3.95%, 03/15/48 (Call 09/15/47)		660		752,930
4.00%, 09/30/42 (Call 03/30/42)		325		362,396
4.25%, 12/15/41 (Call 06/15/41)		415		479,374
5.30%, 02/15/40		440		574,525
6.00%, 01/15/38		187		256,785
6.05%, 04/15/38		335		468,487
6.10%, 06/01/37		285		390,465
6.45%, 10/15/32		441		611,698
Duke Energy Corp.
3.75%, 09/01/46 (Call 03/01/46)		1,603		1,659,244
4.20%, 06/15/49 (Call 12/15/48)		990		1,102,630
4.80%, 12/15/45 (Call 06/15/45)		491		591,137
Duke Energy Florida LLC
3.40%, 10/01/46 (Call 04/01/46)		495		509,591
3.85%, 11/15/42 (Call 05/15/42)		305		335,722
4.20%, 07/15/48 (Call 01/15/48)		25		28,911
5.65%, 04/01/40		150		201,524
6.35%, 09/15/37		800		1,141,432
6.40%, 06/15/38^(a)		1,160		1,697,071
Duke Energy Indiana LLC
3.75%, 05/15/46 (Call 11/15/45)		145		155,764
6.12%, 10/15/35		250		335,787
6.35%, 08/15/38		236		339,227
6.45%, 04/01/39		150		218,075
Series UUU, 4.20%, 03/15/42 (Call 09/15/41)		125		141,456
Series WWW, 4.90%, 07/15/43 (Call 01/15/43)		190		237,475
Series YYY, 3.25%, 10/01/49 (Call 04/01/49)		250		251,566
Duke Energy Ohio Inc.
3.70%, 06/15/46 (Call 12/15/45)		10		10,811
4.30%, 02/01/49 (Call 08/01/48)		835		988,321
Duke Energy Progress LLC
3.60%, 09/15/47 (Call 03/15/47)		470		504,103
3.70%, 10/15/46 (Call 04/15/46)		620		673,861
4.10%, 05/15/42 (Call 11/15/41)^(a)		410		467,138
4.10%, 03/15/43 (Call 09/15/42)		371		420,087
4.15%, 12/01/44 (Call 06/01/44)		355		406,583
4.20%, 08/15/45 (Call 02/15/45)		320		370,666
4.38%, 03/30/44 (Call 09/30/43)^(a)		150		177,228
6.30%, 04/01/38		275		386,544
E.ON International Finance BV, 6.65%, 04/30/38^(b)		539		739,615
El Paso Electric Co.
5.00%, 12/01/44 (Call 06/01/44)		100		119,786
6.00%, 05/15/35		400		503,210
Electricite de France SA
4.75%, 10/13/35 (Call 04/13/35)^(a)(b)		840		954,214
4.88%, 09/21/38 (Call 03/21/38)^(a)(b)		1,175		1,354,249


Security	Par (000)		Value

Electric (continued)
4.88%, 01/22/44^(a)(b)	$	1,175	$	1,355,484
4.95%, 10/13/45 (Call 04/13/45)^(b)		500		585,326
5.00%, 09/21/48 (Call 03/21/48)^(b)		1,600		1,914,766
5.25%, 10/13/55 (Call 04/13/55)^(b)		230		278,718
5.60%, 01/27/40^(a)(b)		625		782,979
6.00%, 01/22/2114^(b)		265		317,049
Emera U.S. Finance LP, 4.75%, 06/15/46 (Call 12/15/45)^(a)		1,270		1,490,783
Emirates Semb Corp. Water & Power Co. PJSC, 4.45%, 08/01/35		250		274,141
Empresa de Transmision Electrica SA, 5.13%, 05/02/49^(b)		400		457,125
Enel Finance International NV
4.75%, 05/25/47^(a)(b)		2,420		2,750,276
6.00%, 10/07/39^(a)(b)		600		757,131
Entergy Arkansas LLC
4.20%, 04/01/49 (Call 10/01/48)		140		165,703
4.95%, 12/15/44 (Call 12/15/24)		20		21,722
Entergy Louisiana LLC
3.05%, 06/01/31 (Call 03/01/31)		370		383,779
4.00%, 03/15/33 (Call 12/15/32)^(a)		1,005		1,153,395
4.20%, 09/01/48 (Call 03/01/48)		925		1,082,365
4.20%, 04/01/50 (Call 10/01/49)		225		265,701
4.95%, 01/15/45 (Call 01/15/25)		100		107,735
Entergy Mississippi LLC, 3.85%, 06/01/49 (Call 12/01/48)		300		336,075
Entergy Texas Inc., 3.55%, 09/30/49 (Call 03/30/49)		100		103,415
Evergy Metro Inc.
4.20%, 06/15/47 (Call 12/15/46)		105		122,038
4.20%, 03/15/48 (Call 09/15/47)		260		302,949
5.30%, 10/01/41 (Call 04/01/41)		314		397,862
Series 2019, 4.13%, 04/01/49 (Call 10/01/48)		300		346,472
Exelon Corp.
4.45%, 04/15/46 (Call 10/15/45)		780		884,956
4.95%, 06/15/35 (Call 12/15/34)		310		360,423
5.10%, 06/15/45 (Call 12/15/44)		941		1,141,517
5.63%, 06/15/35		600		749,914
7.60%, 04/01/32		180		248,953
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)		800		936,743
5.75%, 10/01/41 (Call 04/01/41)		360		423,162
6.25%, 10/01/39		913		1,142,264
FirstEnergy Corp.
Series C, 4.85%, 07/15/47 (Call 01/15/47)		1,030		1,236,894
Series C, 7.38%, 11/15/31		1,436		2,040,709
FirstEnergy Transmission LLC, 4.55%, 04/01/49 (Call 10/01/48)^(b)		290		340,737
Florida Power & Light Co.
3.15%, 10/01/49 (Call 04/01/49)		335		341,555
3.70%, 12/01/47 (Call 06/01/47)		745		829,427
3.80%, 12/15/42 (Call 06/15/42)		300		336,097
3.95%, 03/01/48 (Call 09/01/47)		820		954,370
3.99%, 03/01/49 (Call 09/01/48)		1,345		1,579,476
4.05%, 06/01/42 (Call 12/01/41)		660		763,078
4.05%, 10/01/44 (Call 04/01/44)		305		354,549
4.13%, 02/01/42 (Call 08/01/41)		310		362,120
4.13%, 06/01/48 (Call 12/01/47)		717		855,815
4.95%, 06/01/35		200		244,771
5.13%, 06/01/41 (Call 12/01/40)		50		63,650
5.25%, 02/01/41 (Call 08/01/40)		200		262,697
5.63%, 04/01/34		15		19,988
5.65%, 02/01/37		146		196,897


Security	Par (000)		Value

Electric (continued)
5.69%, 03/01/40	$	149	$	204,145
5.95%, 10/01/33		15		20,223
5.95%, 02/01/38		820		1,147,413
5.96%, 04/01/39		100		141,405
Georgia Power Co. 4.30%, 03/15/42		1,370		1,504,850
4.30%, 03/15/43		296		325,093
5.40%, 06/01/40		75		89,593
Series 10-C, 4.75%, 09/01/40		388		449,129
Iberdrola International BV, 6.75%, 07/15/36		230		318,619
Indiana Michigan Power Co. 4.25%, 08/15/48 (Call 02/15/48)		295		348,732
6.05%, 03/15/37		105		143,880
Series K, 4.55%, 03/15/46 (Call 09/15/45)		270		329,757
Series L, 3.75%, 07/01/47 (Call 01/01/47)		240		258,751
Infraestructura Energetica Nova SAB de CV, 4.88%, 01/14/48		200		190,688
Interstate Power & Light Co. 3.50%, 09/30/49 (Call 03/30/49)		460		466,582
3.70%, 09/15/46 (Call 03/15/46)		435		455,780
4.70%, 10/15/43 (Call 04/15/43)		143		167,813
6.25%, 07/15/39		80		108,076
ITC Holdings Corp., 5.30%, 07/01/43 (Call 01/01/43)		75		94,023
Kentucky Utilities Co. 4.38%, 10/01/45 (Call 04/01/45)		405		481,227
5.13%, 11/01/40 (Call 05/01/40)		576		729,059
Series 1, 4.65%, 11/15/43 (Call 05/15/43)		50		59,671
LLPL Capital Pte Ltd., 6.88%, 02/04/39		198		230,755
Louisville Gas & Electric Co., 4.25%, 04/01/49 (Call 10/01/48)		350		412,973
Massachusetts Electric Co., 5.90%, 11/15/39^(a)(b)		50		68,127
MidAmerican Energy Co. 3.15%, 04/15/50 (Call 10/15/49)		250		256,834
3.65%, 08/01/48 (Call 02/01/48)		530		588,492
3.95%, 08/01/47 (Call 02/01/47)		95		109,771
4.25%, 05/01/46 (Call 11/01/45)		236		281,141
4.25%, 07/15/49 (Call 01/15/49)		791		971,857
4.40%, 10/15/44 (Call 04/15/44)		450		545,031
4.80%, 09/15/43 (Call 03/15/43)		305		384,756
5.75%, 11/01/35		56		73,427
5.80%, 10/15/36		55		73,647
6.75%, 12/30/31		211		295,789
Minejesa Capital BV 4.63%, 08/10/30		500		514,375
5.63%, 08/10/37^(a)(b)		500		542,031
Mississippi Power Co., Series 12-A, 4.25%, 03/15/42		425		458,583
Monongahela Power Co., 5.40%, 12/15/43 (Call 06/15/43)^(b)		760		1,011,135
Narragansett Electric Co. (The), 4.17%, 12/10/42^(b)		50		54,248
National Grid USA, 5.80%, 04/01/35		510		635,779
National Rural Utilities Cooperative Finance Corp. 4.02%, 11/01/32 (Call 05/01/32)		280		321,312
4.30%, 03/15/49 (Call 09/15/48)		630		756,632
4.40%, 11/01/48 (Call 05/01/48)		200		243,925
Series C, 8.00%, 03/01/32		496		744,559
Nevada Power Co. 5.45%, 05/15/41 (Call 11/15/40)		25		31,551
Series N, 6.65%, 04/01/36		300		419,331
Series R, 6.75%, 07/01/37		195		280,410


Security	Par (000)		Value

Electric (continued)
New England Power Co., 3.80%, 12/05/47 (Call 06/05/47)^(a)(b)	$	900	$	976,631
New York State Electric & Gas Corp., 3.30%, 09/15/49 (Call 03/15/49)^(b)		100		98,907
Niagara Mohawk Power Corp., 4.28%, 10/01/34 (Call 04/01/34)^(b)		50		57,929
Northern States Power Co./MN 2.90%, 03/01/50 (Call 09/01/49)		240		233,455
3.40%, 08/15/42 (Call 02/15/42)^(a)		610		641,771
3.60%, 05/15/46 (Call 11/15/45)		75		80,981
4.00%, 08/15/45 (Call 02/15/45)^(a)		115		131,201
4.13%, 05/15/44 (Call 11/15/43)		32		37,268
4.85%, 08/15/40 (Call 02/15/40)		25		30,180
5.35%, 11/01/39		105		139,005
6.25%, 06/01/36		401		565,383
NorthWestern Corp., 4.18%, 11/15/44 (Call 05/15/44)		546		614,501
NSTAR Electric Co. 4.40%, 03/01/44 (Call 09/01/43)		110		129,978
5.50%, 03/15/40		346		452,510
Oglethorpe Power Corp. 4.20%, 12/01/42		450		471,245
4.25%, 04/01/46 (Call 10/01/45)		105		107,200
4.55%, 06/01/44		530		584,986
5.05%, 10/01/48 (Call 04/01/48)		110		133,142
5.25%, 09/01/50		255		320,226
5.38%, 11/01/40		595		723,722
5.95%, 11/01/39		305		391,384
Ohio Edison Co. 6.88%, 07/15/36		350		499,940
8.25%, 10/15/38		65		105,671
Ohio Power Co. 4.00%, 06/01/49 (Call 12/01/48)		275		316,656
4.15%, 04/01/48 (Call 10/01/47)^(a)		165		193,322
Series D, 6.60%, 03/01/33		190		264,883
Oklahoma Gas & Electric Co. 3.30%, 03/15/30 (Call 09/15/29)		630		659,765
3.85%, 08/15/47 (Call 02/15/47)		320		338,192
4.15%, 04/01/47 (Call 10/01/46)		405		445,120
Oncor Electric Delivery Co. LLC 3.10%, 09/15/49 (Call 03/15/49)^(b)		425		426,265
3.75%, 04/01/45 (Call 10/01/44)		325		362,889
3.80%, 09/30/47 (Call 03/30/47)		325		366,794
3.80%, 06/01/49 (Call 12/01/48)^(b)		490		553,204
4.10%, 11/15/48 (Call 05/15/48)^(a)		300		356,264
4.55%, 12/01/41 (Call 06/01/41)		410		495,496
5.25%, 09/30/40		305		394,102
5.30%, 06/01/42 (Call 12/01/41)		810		1,076,735
7.00%, 05/01/32		15		21,546
7.25%, 01/15/33		185		272,935
7.50%, 09/01/38		60		96,013
PacifiCorp 4.10%, 02/01/42 (Call 08/01/41)		255		290,053
4.13%, 01/15/49 (Call 07/15/48)^(a)		675		791,596
4.15%, 02/15/50 (Call 08/15/49)		700		829,479
5.75%, 04/01/37		125		167,633
6.00%, 01/15/39		900		1,250,396
6.10%, 08/01/36		780		1,065,626
6.25%, 10/15/37		90		127,613
6.35%, 07/15/38		180		253,695


Security	Par (000)		Value

Electric (continued)
PECO Energy Co. 3.00%, 09/15/49 (Call 03/15/49)	$	80	$	78,682
3.90%, 03/01/48 (Call 09/01/47)		540		610,769
4.15%, 10/01/44 (Call 04/01/44)		240		275,865
4.80%, 10/15/43 (Call 04/15/43)		150		186,107
5.95%, 10/01/36		111		149,395
Pennsylvania Electric Co., 6.15%, 10/01/38		75		97,168
Perusahaan Listrik Negara PT 4.88%, 07/17/49^(a)(b)		1,400		1,492,750
6.15%, 05/21/48^(b)		1,000		1,256,231
6.25%, 01/25/49^(a)(b)		590		750,038
Potomac Electric Power Co. 4.15%, 03/15/43 (Call 09/15/42)		526		593,742
6.50%, 11/15/37		345		492,255
7.90%, 12/15/38		75		115,509
PPL Capital Funding Inc. 4.00%, 09/15/47 (Call 03/15/47)		635		660,473
4.70%, 06/01/43 (Call 12/01/42)		675		764,748
5.00%, 03/15/44 (Call 09/15/43)		680		801,006
PPL Electric Utilities Corp. 3.00%, 10/01/49 (Call 04/01/49)		430		416,555
3.95%, 06/01/47 (Call 12/01/46)		345		390,217
4.13%, 06/15/44 (Call 12/15/43)		185		212,237
4.15%, 06/15/48 (Call 12/15/47)		305		358,276
4.75%, 07/15/43 (Call 01/15/43)		195		242,097
6.25%, 05/15/39		315		444,383
Progress Energy Inc. 6.00%, 12/01/39		240		320,292
7.00%, 10/30/31		310		428,392
7.75%, 03/01/31		349		499,044
PSEG Power LLC, 8.63%, 04/15/31		520		731,989
Public Service Co. of Colorado 3.55%, 06/15/46 (Call 12/15/45)		285		300,545
3.60%, 09/15/42 (Call 03/15/42)		250		270,254
3.80%, 06/15/47 (Call 12/15/46)		390		438,804
3.95%, 03/15/43 (Call 09/15/42)		125		136,508
4.05%, 09/15/49 (Call 03/15/49)		805		956,117
4.10%, 06/15/48 (Call 12/15/47)		350		407,840
4.30%, 03/15/44 (Call 09/15/43)		205		241,362
4.75%, 08/15/41 (Call 02/15/41)		5		6,034
6.50%, 08/01/38		150		218,702
Series 17, 6.25%, 09/01/37		390		555,001
Series 34, 3.20%, 03/01/50 (Call 09/01/49)^(a)		965		990,732
Public Service Co. of New Hampshire, 3.60%, 07/01/49 (Call 01/01/49)^(a)		1,090		1,184,461
Public Service Co. of Oklahoma, Series G, 6.63%, 11/15/37		50		69,789
Public Service Electric & Gas Co. 3.20%, 08/01/49 (Call 02/01/49)		680		701,687
3.60%, 12/01/47 (Call 06/01/47)		745		816,501
3.65%, 09/01/42 (Call 03/01/42)		235		254,766
3.80%, 03/01/46 (Call 09/01/45)^(a)		633		716,225
3.85%, 05/01/49 (Call 11/01/48)		575		658,984
3.95%, 05/01/42 (Call 11/01/41)^(a)		560		641,172
4.05%, 05/01/48 (Call 11/01/47)		155		183,166
4.15%, 11/01/45 (Call 05/01/45)		25		28,301
5.50%, 03/01/40		50		66,535
5.80%, 05/01/37		225		303,124
Puget Sound Energy Inc. 3.25%, 09/15/49 (Call 03/15/49)		1,235		1,257,228


Security	Par (000)		Value

Electric (continued)
4.22%, 06/15/48 (Call 12/15/47)	$	25	$	29,274
4.30%, 05/20/45 (Call 11/20/44)		449		530,247
4.43%, 11/15/41 (Call 05/15/41)		345		399,048
5.64%, 04/15/41 (Call 10/15/40)		235		313,164
5.76%, 10/01/39		225		304,922
5.80%, 03/15/40		106		144,018
6.27%, 03/15/37		340		466,954
Ruwais Power Co. PJSC, 6.00%, 08/31/36		450		555,469
San Diego Gas & Electric Co. 3.95%, 11/15/41		85		87,910
4.15%, 05/15/48 (Call 11/15/47)		465		528,275
4.50%, 08/15/40		645		741,220
5.35%, 05/15/40		25		30,393
6.00%, 06/01/39		163		213,435
Series RRR, 3.75%, 06/01/47 (Call 12/01/46)		279		290,002
Series TTT, 4.10%, 06/15/49 (Call 12/15/48)		30		33,135
Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/44^(a)(b)		1,400		1,671,600
Sempra Energy 3.80%, 02/01/38 (Call 08/01/37)		2,556		2,599,585
4.00%, 02/01/48 (Call 08/01/47)		499		522,550
6.00%, 10/15/39		450		572,959
Southern California Edison Co. 4.00%, 04/01/47 (Call 10/01/46)		846		889,361
4.05%, 03/15/42 (Call 09/15/41)		330		345,664
4.50%, 09/01/40 (Call 03/01/40)		443		474,752
4.65%, 10/01/43 (Call 04/01/43)		599		669,603
5.50%, 03/15/40		247		295,897
5.63%, 02/01/36		275		326,147
6.00%, 01/15/34		363		443,777
6.05%, 03/15/39^(a)		650		815,399
Series 04-G, 5.75%, 04/01/35		105		125,940
Series 05-B, 5.55%, 01/15/36		285		335,559
Series 05-E, 5.35%, 07/15/35		335		390,469
Series 06-E, 5.55%, 01/15/37^(a)		250		300,415
Series 08-A, 5.95%, 02/01/38^(a)		475		586,650
Series 13-A, 3.90%, 03/15/43 (Call 09/15/42)		410		418,953
Series B, 4.88%, 03/01/49 (Call 09/01/48)		724		860,994
Series C, 3.60%, 02/01/45 (Call 08/01/44)		555		540,582
Series C, 4.13%, 03/01/48 (Call 09/01/47)		723		773,575
Southern Co. (The) 4.25%, 07/01/36 (Call 01/01/36)		1,322		1,447,270
4.40%, 07/01/46 (Call 01/01/46)		1,255		1,415,086
Southern Power Co. 5.15%, 09/15/41		595		676,682
5.25%, 07/15/43		225		259,027
Series F, 4.95%, 12/15/46 (Call 06/15/46)		170		189,146
Southwestern Electric Power Co. 6.20%, 03/15/40		435		582,435
Series J, 3.90%, 04/01/45 (Call 10/01/44)		820		869,457
Series L, 3.85%, 02/01/48 (Call 08/01/47)		365		385,585
Southwestern Public Service Co. 3.40%, 08/15/46 (Call 02/15/46)		635		658,794
3.70%, 08/15/47 (Call 02/15/47)		345		375,316
3.75%, 06/15/49 (Call 12/15/48)		65		71,705
4.50%, 08/15/41 (Call 02/15/41)		130		154,037
6.00%, 10/01/36		395		505,351
Series 6, 4.40%, 11/15/48 (Call 05/15/48)		450		542,634
State Grid Overseas Investment 2014 Ltd., 4.85%, 05/07/44		1,000		1,269,480


Security	Par (000)		Value

Electric (continued)
State Grid Overseas Investment 2016 Ltd., 4.00%, 05/04/47^(a)(b)	$	540	$	616,469
Tampa Electric Co. 3.63%, 06/15/50 (Call 12/15/49)^(a)		350		376,805
4.10%, 06/15/42 (Call 12/15/41)		450		500,330
4.20%, 05/15/45 (Call 11/15/44)		350		389,476
4.35%, 05/15/44 (Call 11/15/43)		200		231,045
4.45%, 06/15/49 (Call 12/15/48)		345		414,322
Toledo Edison Co. (The), 6.15%, 05/15/37^(a)		375		514,934
Tri-State Generation & Transmission Association Inc. 4.25%, 06/01/46 (Call 12/01/45)		55		61,274
6.00%, 06/15/40^(b)		700		944,592
Tucson Electric Power Co., 4.85%, 12/01/48 (Call 06/01/48)		250		311,736
Union Electric Co. 3.25%, 10/01/49 (Call 04/01/49)		250		255,305
3.90%, 09/15/42 (Call 03/15/42)		610		686,170
4.00%, 04/01/48 (Call 10/01/47)		270		309,085
8.45%, 03/15/39		201		338,807
Virginia Electric & Power Co. 4.00%, 01/15/43 (Call 07/15/42)		346		385,261
4.45%, 02/15/44 (Call 08/15/43)		510		603,077
4.60%, 12/01/48 (Call 06/01/48)		605		745,103
6.35%, 11/30/37		25		35,268
8.88%, 11/15/38		300		507,307
Series A, 6.00%, 05/15/37		100		134,576
Series B, 3.80%, 09/15/47 (Call 03/15/47)		450		492,920
Series B, 4.20%, 05/15/45 (Call 11/15/44)		7		8,052
Series B, 6.00%, 01/15/36		250		333,996
Series C, 4.00%, 11/15/46 (Call 05/15/46)		585		656,303
Series D, 4.65%, 08/15/43 (Call 02/15/43)		231		281,380
Westar Energy Inc. 3.25%, 09/01/49 (Call 03/01/49)		375		379,218
4.10%, 04/01/43 (Call 10/01/42)		205		231,435
4.13%, 03/01/42 (Call 09/01/41)^(a)		425		478,380
4.25%, 12/01/45 (Call 06/01/45)		380		441,942
4.63%, 09/01/43 (Call 03/01/43)		245		295,231
Wisconsin Electric Power Co. 4.30%, 10/15/48 (Call 04/15/48)^(a)		385		462,205
5.70%, 12/01/36		5		6,732
Wisconsin Power & Light Co., 6.38%, 08/15/37		380		541,430
Wisconsin Public Service Corp. 3.30%, 09/01/49 (Call 03/01/49)		1,370		1,416,434
4.75%, 11/01/44 (Call 05/01/44)		215		266,181
Xcel Energy Inc. 4.80%, 09/15/41 (Call 03/15/41)		279		321,748
6.50%, 07/01/36		225		306,273

				220,077,482

Electrical Components & Equipment — 0.0%
Emerson Electric Co., 6.00%, 08/15/32		400		538,508


Electronics — 0.1%
Fortive Corp., 4.30%, 06/15/46 (Call 12/15/45)		759		799,040
Honeywell International Inc., 3.81%, 11/21/47 (Call 05/21/47)		425		490,770
Tyco Electronics Group SA, 7.13%, 10/01/37		200		287,533

				1,577,343

Engineering & Construction — 0.2%
Aeropuerto Internacional de Tocumen SA, 6.00%, 11/18/48 (Call 11/18/47)		1,050		1,305,150


Security	Par (000)		Value

Engineering & Construction (continued)
Mexico City Airport Trust 5.50%, 10/31/46 (Call 04/30/46)^(b)	$	400	$	401,875
5.50%, 07/31/47 (Call 01/31/47)^(b)		1,733		1,735,946

				3,442,971

Environmental Control — 0.2%
Republic Services Inc., 5.70%, 05/15/41 (Call 11/15/40)		40		53,354
Waste Management Inc. 3.90%, 03/01/35 (Call 09/01/34)		300		333,443
4.00%, 07/15/39 (Call 01/15/39)^(a)		850		967,772
4.10%, 03/01/45 (Call 09/01/44)		550		636,140
4.15%, 07/15/49 (Call 01/15/49)		855		992,331

				2,983,040

Food — 2.2%
Campbell Soup Co. 3.80%, 08/02/42		486		479,492
4.80%, 03/15/48 (Call 09/15/47)^(a)		685		777,539
Conagra Brands Inc. 5.30%, 11/01/38 (Call 05/01/38)		1,066		1,250,308
5.40%, 11/01/48 (Call 05/01/48)		1,030		1,220,315
8.25%, 09/15/30		520		726,430
General Mills Inc. 4.15%, 02/15/43 (Call 08/15/42)		30		32,395
4.55%, 04/17/38 (Call 10/17/37)		580		666,613
4.70%, 04/17/48 (Call 10/17/47)^(a)		435		512,543
5.40%, 06/15/40		425		526,877
Grupo Bimbo SAB de CV 4.00%, 09/06/49		500		478,495
4.70%, 11/10/47 (Call 05/10/47)^(b)		200		214,313
Hershey Co. (The) 3.13%, 11/15/49 (Call 05/15/49)		250		255,033
3.38%, 08/15/46 (Call 02/15/46)		200		213,821
Ingredion Inc., 6.63%, 04/15/37		200		260,321
JM Smucker Co. (The) 4.25%, 03/15/35		695		750,845
4.38%, 03/15/45		440		488,044
Kellogg Co. 4.50%, 04/01/46^(a)		380		426,440
Series B, 7.45%, 04/01/31		831		1,157,168
Koninklijke Ahold Delhaize NV, 5.70%, 10/01/40		252		309,313
Kraft Heinz Foods Co. 3.75%, 04/01/30 (Call 01/01/30)^(b)		500		511,036
4.38%, 06/01/46 (Call 12/01/45)		2,104		2,055,683
4.63%, 10/01/39 (Call 04/01/39)^(b)		390		398,495
5.00%, 07/15/35 (Call 01/15/35)		1,050		1,140,772
5.00%, 06/04/42		1,230		1,288,066
5.20%, 07/15/45 (Call 01/15/45)		1,452		1,543,542
6.50%, 02/09/40		935		1,150,547
6.75%, 03/15/32		525		654,814
6.88%, 01/26/39		1,035		1,285,390
Kroger Co. (The) 3.88%, 10/15/46 (Call 04/15/46)		640		608,255
4.45%, 02/01/47 (Call 08/01/46)^(a)		645		667,336
4.65%, 01/15/48 (Call 07/15/47)		380		405,758
5.00%, 04/15/42 (Call 10/15/41)		375		408,463
5.15%, 08/01/43 (Call 02/01/43)		195		218,467
5.40%, 07/15/40 (Call 01/15/40)^(a)		545		617,244
5.40%, 01/15/49 (Call 07/15/48)		265		314,520
6.90%, 04/15/38		265		355,615
7.50%, 04/01/31		305		424,252


Security	Par (000)		Value

Food (continued)
Mars Inc.
3.20%, 04/01/30 (Call 01/01/30)^(a)(b)	$	275	$	296,432
3.60%, 04/01/34 (Call 01/01/34)^(b)		95		106,304
3.88%, 04/01/39 (Call 10/01/38)^(b)		625		701,184
3.95%, 04/01/44 (Call 10/01/43)^(b)		675		767,702
3.95%, 04/01/49 (Call 10/01/48)^(a)(b)		775		892,720
4.13%, 04/01/54 (Call 10/01/53)^(b)		475		547,711
4.20%, 04/01/59 (Call 10/01/58)^(b)		675		785,149
McCormick & Co. Inc./MD, 4.20%, 08/15/47 (Call 02/15/47)		315		353,427
Mondelez International Inc., 4.63%, 05/07/48 (Call 11/07/47)		625		719,428
Nestle Holdings Inc.
3.90%, 09/24/38 (Call 03/24/38)^(a)(b)		1,555		1,782,298
4.00%, 09/24/48 (Call 03/24/48)^(a)(b)		1,500		1,766,862
Sysco Corp.
4.45%, 03/15/48 (Call 09/15/47)^(a)		635		746,219
4.50%, 04/01/46 (Call 10/01/45)		506		594,993
4.85%, 10/01/45 (Call 04/01/45)		360		440,951
5.38%, 09/21/35		225		283,508
Tesco PLC, 6.15%, 11/15/37^(b)		700		804,957
Tyson Foods Inc.
4.55%, 06/02/47 (Call 12/02/46)		405		463,406
4.88%, 08/15/34 (Call 02/15/34)		430		515,081
5.10%, 09/28/48 (Call 03/28/48)		1,539		1,888,605
5.15%, 08/15/44 (Call 02/15/44)		810		990,031

				40,241,528

Forest Products & Paper — 0.5%
Celulosa Arauco y Constitucion SA
5.50%, 11/02/47 (Call 05/02/47)^(a)		200		213,375
5.50%, 04/30/49 (Call 10/30/48)		500		527,758
Domtar Corp.
6.25%, 09/01/42		200		217,226
6.75%, 02/15/44 (Call 08/15/43)		360		406,441
Georgia-Pacific LLC
7.75%, 11/15/29		275		394,988
8.88%, 05/15/31		449		710,767
International Paper Co.
4.35%, 08/15/48 (Call 02/15/48)^(a)		930		964,833
4.40%, 08/15/47 (Call 02/15/47)		1,090		1,131,781
4.80%, 06/15/44 (Call 12/15/43)		816		885,209
5.00%, 09/15/35 (Call 03/15/35)		415		481,091
5.15%, 05/15/46 (Call 11/15/45)		495		562,884
6.00%, 11/15/41 (Call 05/15/41)		385		475,519
7.30%, 11/15/39		485		665,204
8.70%, 06/15/38		75		111,047
Stora Enso OYJ, 7.25%, 04/15/36^(b)		470		564,000
Suzano Austria GmbH
5.00%, 01/15/30 (Call 10/15/29)		400		412,000
7.00%, 03/16/47 (Call 09/16/46)^(b)		900		1,046,250

				9,770,373

Gas — 1.2%
Atmos Energy Corp.
3.38%, 09/15/49 (Call 03/15/49)		815		849,485
4.13%, 10/15/44 (Call 04/15/44)		565		656,739
4.13%, 03/15/49 (Call 09/15/48)		285		335,581
4.15%, 01/15/43 (Call 07/15/42)		290		329,966
4.30%, 10/01/48 (Call 04/01/48)		400		480,598
5.50%, 06/15/41 (Call 12/15/40)		190		248,934


Security	Par (000)		Value

Gas (continued)
Brooklyn Union Gas Co. (The)
4.27%, 03/15/48 (Call 09/15/47)^(b)	$	1,225	$	1,430,840
4.49%, 03/04/49 (Call 09/04/48)^(a)(b)		1,325		1,598,154
CenterPoint Energy Resources Corp.
4.10%, 09/01/47 (Call 03/01/47)		230		248,359
5.85%, 01/15/41 (Call 07/15/40)		235		304,756
Centrica PLC, 5.38%, 10/16/43 (Call 04/16/43)^(b)		250		294,636
Dominion Energy Gas Holdings LLC
4.60%, 12/15/44 (Call 06/15/44)^(a)		890		1,058,264
4.80%, 11/01/43 (Call 05/01/43)		115		139,155
KeySpan Gas East Corp., 5.82%, 04/01/41^(b)		250		335,274
Korea Gas Corp., 6.25%, 01/20/42^(b)		640		972,000
Nakilat Inc., 6.07%, 12/31/33^(a)(b)		650		791,172
NiSource Inc.
3.95%, 03/30/48 (Call 09/30/47)		370		396,112
4.38%, 05/15/47 (Call 11/15/46)		505		570,134
4.80%, 02/15/44 (Call 08/15/43)		903		1,059,794
5.25%, 02/15/43 (Call 08/15/42)		572		697,220
5.65%, 02/01/45 (Call 08/01/44)		561		726,539
5.80%, 02/01/42 (Call 08/01/41)		150		189,098
5.95%, 06/15/41 (Call 12/15/40)		310		392,526
ONE Gas Inc.
4.50%, 11/01/48 (Call 05/01/48)		405		492,297
4.66%, 02/01/44 (Call 08/01/43)		485		587,961
Piedmont Natural Gas Co. Inc.
3.64%, 11/01/46 (Call 05/01/46)		70		71,733
4.10%, 09/18/34 (Call 03/18/34)		100		112,808
4.65%, 08/01/43 (Call 02/01/43)		153		178,046
Southern California Gas Co.
3.75%, 09/15/42 (Call 03/15/42)		180		192,014
3.95%, 02/15/50 (Call 08/15/49)		575		643,898
4.45%, 03/15/44 (Call 09/15/43)		470		534,921
5.13%, 11/15/40		80		98,779
Series UU, 4.13%, 06/01/48 (Call 12/01/47)		105		120,642
Series VV, 4.30%, 01/15/49 (Call 07/15/48)		210		247,481
Southern Co. Gas Capital Corp.
3.95%, 10/01/46 (Call 04/01/46)		250		263,784
4.40%, 06/01/43 (Call 12/01/42)		316		352,908
4.40%, 05/30/47 (Call 11/30/46)		170		190,641
5.88%, 03/15/41 (Call 09/15/40)		867		1,121,204
6.00%, 10/01/34		400		518,196
Southwest Gas Corp.
3.80%, 09/29/46 (Call 03/29/46)		160		167,358
4.15%, 06/01/49 (Call 12/01/48)^(a)		325		362,316
Spire Inc., 4.70%, 08/15/44 (Call 02/15/44)		100		116,053
Washington Gas Light Co.
3.65%, 09/15/49 (Call 03/15/49)		500		516,104
Series K, 3.80%, 09/15/46 (Call 03/15/46)		175		182,574

				21,177,054

Hand & Machine Tools — 0.1%
Snap-on Inc., 4.10%, 03/01/48 (Call 09/01/47)		450		521,780
Stanley Black & Decker Inc.
4.85%, 11/15/48 (Call 05/15/48)		150		189,010
5.20%, 09/01/40		235		291,763

				1,002,553

Health Care – Products — 1.5%
Abbott Laboratories
4.75%, 11/30/36 (Call 05/30/36)		2,260		2,777,677
4.75%, 04/15/43 (Call 10/15/42)		740		901,853


Security	Par (000)		Value

Health Care – Products (continued)
4.90%, 11/30/46 (Call 05/30/46)	$	3,115	$	3,980,798
5.30%, 05/27/40		310		400,646
6.00%, 04/01/39		200		278,165
Alcon Finance Corp., 3.80%, 09/23/49 (Call 03/23/49)		200		208,060
Baxter International Inc., 3.50%, 08/15/46 (Call 02/15/46)		1,278		1,275,234
Becton Dickinson and Co.
4.67%, 06/06/47 (Call 12/06/46)		1,515		1,822,178
4.69%, 12/15/44 (Call 06/15/44)		929		1,093,674
Boston Scientific Corp.
4.55%, 03/01/39 (Call 09/01/38)^(a)		565		667,079
4.70%, 03/01/49 (Call 09/01/48)		1,175		1,428,457
7.00%, 11/15/35		130		182,406
7.38%, 01/15/40		220		335,318
Danaher Corp., 4.38%, 09/15/45 (Call 03/15/45)		455		535,143
DH Europe Finance II Sarl, 3.40%, 11/15/49 (Call 05/15/49)		95		96,977
Koninklijke Philips NV, 5.00%, 03/15/42^(a)		1,035		1,248,650
Medtronic Inc.
4.38%, 03/15/35		1,715		2,046,613
4.63%, 03/15/45		2,346		3,012,860
Stryker Corp.
4.10%, 04/01/43 (Call 10/01/42)		475		527,444
4.38%, 05/15/44 (Call 11/15/43)^(a)		200		230,413
4.63%, 03/15/46 (Call 09/15/45)		965		1,179,805
Thermo Fisher Scientific Inc.
4.10%, 08/15/47 (Call 02/15/47)		856		981,265
5.30%, 02/01/44 (Call 08/01/43)		597		767,438
Zimmer Biomet Holdings Inc.
4.25%, 08/15/35 (Call 02/15/35)		465		468,293
4.45%, 08/15/45 (Call 02/15/45)		315		336,165
5.75%, 11/30/39		200		239,266

				27,021,877

Health Care – Services — 2.5%
Advocate Health & Hospitals Corp., 4.27%, 08/15/48 (Call 02/15/48)		75		89,320
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)		405		392,202
4.13%, 11/15/42 (Call 05/15/42)		750		756,734
4.50%, 05/15/42 (Call 11/15/41)		935		996,818
4.75%, 03/15/44 (Call 09/15/43)		580		635,735
6.63%, 06/15/36		365		479,382
6.75%, 12/15/37		410		547,693
Anthem Inc.
4.38%, 12/01/47 (Call 06/01/47)		495		530,680
4.55%, 03/01/48 (Call 09/01/47)		780		857,322
4.63%, 05/15/42		857		945,210
4.65%, 01/15/43		1,029		1,141,530
4.65%, 08/15/44 (Call 02/15/44)		590		649,883
4.85%, 08/15/54 (Call 02/15/54)		275		305,678
5.10%, 01/15/44		1,475		1,710,773
Ascension Health
3.95%, 11/15/46		1,148		1,323,158
4.85%, 11/15/53		146		193,587
Baylor Scott & White Holdings
3.97%, 11/15/46 (Call 05/15/46)		350		391,227
4.19%, 11/15/45 (Call 05/15/45)		201		236,001
CommonSpirit Health
3.82%, 10/01/49 (Call 04/01/49)		525		525,244
4.19%, 10/01/49 (Call 04/01/49)		720		737,605
4.35%, 11/01/42		640		675,096


Security	Par (000)		Value

Health Care – Services (continued)
Dartmouth-Hitchcock Health, Series B, 4.18%, 08/01/48 (Call 02/01/48)	$	230	$	262,962
Dignity Health
4.50%, 11/01/42		180		193,342
5.27%, 11/01/64		115		137,386
Hackensack Meridian Health Inc., 4.21%, 07/01/48 (Call 01/01/48)		75		87,933
HCA Inc.
5.13%, 06/15/39 (Call 12/15/38)		1,745		1,916,494
5.25%, 06/15/49 (Call 12/15/48)		1,100		1,217,293
5.50%, 06/15/47 (Call 12/15/46)		975		1,115,270
Humana Inc.
3.95%, 08/15/49 (Call 02/15/49)		680		697,445
4.63%, 12/01/42 (Call 06/01/42)^(a)		685		749,835
4.80%, 03/15/47 (Call 09/15/46)		215		245,398
4.95%, 10/01/44 (Call 04/01/44)		460		525,965
8.15%, 06/15/38		100		147,662
Indiana University Health Inc. Obligated Group, 3.97%, 11/01/48 (Call 05/01/48)		100		118,105
Johns Hopkins Health System Corp. (The), 3.84%, 05/15/46		60		67,493
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		1,658		1,948,490
4.88%, 04/01/42		100		127,644
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)		720		803,444
Mayo Clinic, Series 2013, 4.00%, 11/15/47		11		12,758
McLaren Health Care Corp., Series A, 4.39%, 05/15/48 (Call 11/15/47)		25		29,246
Memorial Sloan-Kettering Cancer Center
4.13%, 07/01/52		325		387,885
Series 2015, 4.20%, 07/01/55		400		481,439
Montefiore Obligated Group, Series 18-C, 5.25%, 11/01/48		195		224,175
Mount Sinai Hospitals Group Inc., Series 2017, 3.98%, 07/01/48^(a)		205		218,573
New York and Presbyterian Hospital (The)
4.02%, 08/01/45		51		58,747
4.06%, 08/01/56		450		516,001
Northwell Healthcare Inc.
3.98%, 11/01/46 (Call 11/01/45)		880		943,260
4.26%, 11/01/47 (Call 11/01/46)		460		509,019
Ochsner Clinic Foundation, 5.90%, 05/15/45 (Call 11/15/44)		75		103,282
Providence St Joseph Health Obligated Group, Series I, 3.74%, 10/01/47		250		275,769
Quest Diagnostics Inc., 4.70%, 03/30/45 (Call 09/30/44)		197		220,489
Roche Holdings Inc., 4.00%, 11/28/44 (Call 05/28/44)^(b)		200		235,681
Southern Baptist Hospital of Florida Inc., 4.86%, 07/15/45 (Call 01/15/45)		25		31,079
Stanford Health Care, Series 2018, 3.80%, 11/15/48 (Call 05/15/48)		375		424,494
Sutter Health, Series 2018, 4.09%, 08/15/48 (Call 02/15/48)		185		210,811
Texas Health Resources, 4.33%, 11/15/55		9		10,971
Toledo Hospital (The)
5.75%, 11/15/38 (Call 11/15/28)		165		192,576
6.02%, 11/15/48^(a)		525		615,033
UnitedHealth Group Inc.
3.70%, 08/15/49 (Call 02/15/49)^(a)		1,060		1,115,682


Security	Par (000)		Value

Health Care – Services (continued)
3.75%, 10/15/47 (Call 04/15/47)^(a)	$	765	$	812,883
3.88%, 08/15/59 (Call 02/15/59)		1,440		1,524,073
3.95%, 10/15/42 (Call 04/15/42)		617		673,695
4.20%, 01/15/47 (Call 07/15/46)		480		542,312
4.25%, 03/15/43 (Call 09/15/42)		940		1,064,616
4.25%, 04/15/47 (Call 10/15/46)		430		492,223
4.25%, 06/15/48 (Call 12/15/47)		1,132		1,302,795
4.38%, 03/15/42 (Call 09/15/41)		350		401,347
4.45%, 12/15/48 (Call 06/15/48)		680		802,530
4.63%, 07/15/35^(a)		1,549		1,876,311
4.63%, 11/15/41 (Call 05/15/41)		300		355,547
4.75%, 07/15/45		1,135		1,386,542
5.70%, 10/15/40 (Call 04/15/40)		260		345,436
5.80%, 03/15/36		390		518,325
5.95%, 02/15/41 (Call 08/15/40)		350		473,879
6.50%, 06/15/37		400		574,790
6.63%, 11/15/37		386		560,971
6.88%, 02/15/38^(a)		893		1,325,369
Willis-Knighton Medical Center, Series 2018, 4.81%, 09/01/48 (Call 03/01/48)		100		124,318

				46,457,971

Holding Companies – Diversified — 0.1%
CK Hutchison International 19 II Ltd., 3.38%, 09/06/49 (Call 03/06/49)^(b)		1,000		997,339
Hutchison Whampoa International Ltd., 7.45%, 11/24/33^(b)		175		259,080
PTT Treasury Center Co. Ltd., 5.88%, 08/03/35		600		754,421

				2,010,840

Home Furnishings — 0.1%
Whirlpool Corp. 4.50%, 06/01/46 (Call 12/01/45)^(a)		660		686,927
5.15%, 03/01/43^(a)		200		220,827

				907,754

Household Products & Wares — 0.1%
Kimberly-Clark Corp. 3.20%, 07/30/46 (Call 01/30/46)		725		735,213
3.90%, 05/04/47 (Call 11/04/46)		310		354,669
5.30%, 03/01/41		31		40,937
6.63%, 08/01/37^(a)		330		490,193
SC Johnson & Son Inc., 4.75%, 10/15/46 (Call 04/16/46)^(b)		775		954,216

				2,575,228

Housewares — 0.1%
Newell Brands Inc. 5.38%, 04/01/36 (Call 10/01/35)		625		665,696
5.50%, 04/01/46 (Call 10/01/45)		518		552,710

				1,218,406

Insurance — 5.2%
ACE Capital Trust II, Series N, 9.70%, 04/01/30		100		149,000
Aflac Inc. 4.00%, 10/15/46 (Call 04/15/46)		345		382,144
4.75%, 01/15/49 (Call 07/15/48)		635		789,433
6.45%, 08/15/40		120		171,675
AIA Group Ltd., 4.50%, 03/16/46 (Call 09/16/45)^(b)		200		238,703
AIG SunAmerica Global Financing X, 6.90%, 03/15/32^(b)		385		542,063
Alleghany Corp., 4.90%, 09/15/44 (Call 03/15/44)		140		164,318
Allstate Corp. (The) 3.85%, 08/10/49 (Call 02/10/49)^(a)		745		830,463
4.20%, 12/15/46 (Call 06/15/46)		525		614,699
4.50%, 06/15/43		585		704,233


Security	Par (000)		Value

Insurance (continued)
5.35%, 06/01/33^(a)	$	388	$	491,683
5.55%, 05/09/35		376		487,373
5.95%, 04/01/36^(a)		150		202,940
6.50%, 05/15/67 (Call 05/15/37)^(c)(d)		195		240,805
American Financial Group Inc./OH, 4.50%, 06/15/47 (Call 12/15/46)		340		375,519
American International Group Inc. 3.88%, 01/15/35 (Call 07/15/34)		1,456		1,533,114
4.38%, 01/15/55 (Call 07/15/54)		940		1,011,074
4.50%, 07/16/44 (Call 01/16/44)		1,188		1,330,407
4.70%, 07/10/35 (Call 01/10/35)		325		373,106
4.75%, 04/01/48 (Call 10/01/47)		1,015		1,196,264
4.80%, 07/10/45 (Call 01/10/45)		1,495		1,752,958
6.25%, 05/01/36		380		500,319
8.18%, 05/15/68 (Call 05/15/38)^(a)(c)(d)		170		227,800
Aon Corp., 6.25%, 09/30/40		325		444,391
Aon PLC 4.60%, 06/14/44 (Call 03/14/44)		710		824,311
4.75%, 05/15/45 (Call 11/15/44)		411		488,725
Arch Capital Finance LLC, 5.03%, 12/15/46 (Call 06/15/46)		245		308,819
Arch Capital Group Ltd., 7.35%, 05/01/34		270		390,249
Arch Capital Group U.S. Inc., 5.14%, 11/01/43		390		486,413
Assurant Inc., 6.75%, 02/15/34		48		58,857
AXA Equitable Holdings Inc., 5.00%, 04/20/48 (Call 10/20/47)		1,090		1,175,241
AXA SA, 8.60%, 12/15/30^(a)		950		1,378,640
AXIS Specialty Finance PLC, 5.15%, 04/01/45^(a)		125		139,765
Berkshire Hathaway Finance Corp. 4.20%, 08/15/48 (Call 02/15/48)		1,710		2,012,126
4.25%, 01/15/49 (Call 07/15/48)		1,532		1,826,399
4.30%, 05/15/43		778		916,993
4.40%, 05/15/42		1,100		1,309,676
5.75%, 01/15/40^(a)		545		769,668
Berkshire Hathaway Inc., 4.50%, 02/11/43		705		857,208
Brighthouse Financial Inc., 4.70%, 06/22/47 (Call 12/22/46)		1,014		902,133
Chubb Corp. (The), 6.00%, 05/11/37		210		287,535
Chubb INA Holdings Inc. 4.15%, 03/13/43		250		294,079
4.35%, 11/03/45 (Call 05/03/45)		860		1,058,021
Everest Reinsurance Holdings Inc., 4.87%, 06/01/44		240		273,370
Farmers Exchange Capital III, 5.45%, 10/15/54 (Call 10/15/34)^(b)(c)(d)		340		391,513
Farmers Insurance Exchange, 4.75%, 11/01/57 (Call 11/01/37)^(b)(c)(d)		300		307,854
Great-West Lifeco Finance 2018 LP, 4.58%, 05/17/48 (Call 11/17/47)^(b)		1,000		1,187,654
Guardian Life Insurance Co. of America (The) 4.85%, 01/24/77^(b)		450		572,194
4.88%, 06/19/64^(b)		240		304,759
Harborwalk Funding Trust, 5.08%, 02/15/69 (Call 02/15/49)^(a)(b)(c)(d)		590		715,847
Hartford Financial Services Group Inc. (The) 3.60%, 08/19/49 (Call 02/19/49)^(a)		510		520,827
4.30%, 04/15/43		104		117,704
4.40%, 03/15/48 (Call 09/15/47)		465		541,483
5.95%, 10/15/36		303		397,233
6.10%, 10/01/41^(a)		300		407,622
6.63%, 03/30/40		455		634,421


Security	Par (000)		Value

Insurance (continued)
Liberty Mutual Group Inc. 3.95%, 10/15/50 (Call 04/15/50)	$	1,935	$	1,999,131
4.50%, 06/15/49 (Call 12/15/48)^(a)(b)		667		747,268
Liberty Mutual Insurance Co., 7.70%, 10/15/97^(b)		70		103,500
Lincoln National Corp. 4.35%, 03/01/48 (Call 09/01/47)^(a)		800		881,696
6.30%, 10/09/37		116		153,028
7.00%, 06/15/40		825		1,186,170
Loews Corp. 4.13%, 05/15/43 (Call 11/15/42)		275		300,932
6.00%, 02/01/35		150		197,057
Manulife Financial Corp., 5.38%, 03/04/46^(a)		800		1,063,168
Markel Corp. 4.15%, 09/17/50 (Call 03/17/50)		525		536,720
4.30%, 11/01/47 (Call 05/01/47)		170		179,868
5.00%, 04/05/46		745		862,191
5.00%, 05/20/49 (Call 11/20/48)^(a)		325		377,407
Marsh & McLennan Companies Inc. 4.20%, 03/01/48 (Call 09/01/47)^(a)		385		435,341
4.35%, 01/30/47 (Call 07/30/46)		707		818,648
4.75%, 03/15/39 (Call 09/15/38)		75		91,017
4.90%, 03/15/49 (Call 09/15/48)		815		1,024,500
5.88%, 08/01/33		75		97,011
Massachusetts Mutual Life Insurance Co. 3.73%, 10/15/70^(a)(b)		1,181		1,169,065
4.90%, 04/01/77^(b)		105		130,608
MetLife Capital Trust IV, 7.88%, 12/15/67 (Call 12/15/32)^(b)		155		205,762
MetLife Inc. 4.05%, 03/01/45^(a)		1,141		1,293,031
4.13%, 08/13/42		916		1,049,022
4.60%, 05/13/46 (Call 11/13/45)		455		560,532
4.88%, 11/13/43		960		1,196,386
5.70%, 06/15/35		825		1,111,998
5.88%, 02/06/41		725		991,655
6.38%, 06/15/34		510		729,079
6.40%, 12/15/66 (Call 12/15/31)		1,103		1,339,715
6.50%, 12/15/32		550		770,054
9.25%, 04/08/38 (Call 04/08/33)^(b)		125		182,264
10.75%, 08/01/69 (Call 08/01/34)		126		207,212
Series N, 4.72%, 12/15/44		820		1,005,283
Mutual of Omaha Insurance Co., 6.80%, 06/15/36^(b)		75		98,965
Nationwide Financial Services Inc., 5.30%, 11/18/44^(b)		300		353,730
Nationwide Mutual Insurance Co. 4.95%, 04/22/44		1,000		1,160,187
8.25%, 12/01/31^(b)		200		295,304
9.38%, 08/15/39^(b)		435		752,399
New York Life Insurance Co. 4.45%, 05/15/69 (Call 11/15/68)^(b)		275		327,120
5.88%, 05/15/33^(b)		1,410		1,888,325
6.75%, 11/15/39^(b)		1,070		1,593,371
Northwestern Mutual Life Insurance Co. (The) 3.63%, 09/30/59 (Call 03/30/59)^(b)		1,624		1,681,642
3.85%, 09/30/47 (Call 03/30/47)^(b)		700		755,918
Ohio National Financial Services Inc., 6.63%, 05/01/31^(b)		150		169,950
Ohio National Life Insurance Co. (The), 6.88%, 06/15/42^(b)		300		341,401
Pacific Life Insurance Co., 4.30%, 10/24/67 (Call 10/24/47)^(b)(c)(d)		1,000		1,048,480


Security	Par (000)		Value

Insurance (continued)
Principal Financial Group Inc. 4.30%, 11/15/46 (Call 05/15/46)^(a)	$	103	$	115,273
4.35%, 05/15/43		325		361,977
4.63%, 09/15/42		40		46,051
6.05%, 10/15/36		191		250,806
Progressive Corp. (The) 3.70%, 01/26/45		185		200,128
4.13%, 04/15/47 (Call 10/15/46)		618		723,542
4.20%, 03/15/48 (Call 09/15/47)		940		1,111,822
4.35%, 04/25/44		171		203,430
6.25%, 12/01/32		220		306,631
Prudential Financial Inc. 3.70%, 03/13/51 (Call 09/13/50)		25		26,184
3.91%, 12/07/47 (Call 06/07/47)		859		927,011
3.94%, 12/07/49 (Call 06/07/49)		1,130		1,235,219
4.35%, 02/25/50 (Call 08/25/49)		1,209		1,397,409
4.42%, 03/27/48 (Call 09/27/47)^(a)		475		553,398
4.60%, 05/15/44		1,080		1,276,308
5.70%, 12/14/36		760		1,006,447
6.63%, 06/21/40		150		216,608
Series D, 6.63%, 12/01/37^(a)		65		92,312
Securian Financial Group Inc., 4.80%, 04/15/48^(b)		315		371,085
Selective Insurance Group Inc., 5.38%, 03/01/49 (Call 09/01/48)		230		267,511
Teachers Insurance & Annuity Association of America 4.27%, 05/15/47 (Call 11/15/46)^(a)(b)		2,710		3,137,218
4.90%, 09/15/44^(b)		826		1,038,224
6.85%, 12/16/39^(b)		60		89,023
Transatlantic Holdings Inc., 8.00%, 11/30/39		230		342,680
Travelers Companies Inc. (The) 3.75%, 05/15/46 (Call 11/15/45)		515		575,774
4.00%, 05/30/47 (Call 11/30/46)^(a)		207		239,030
4.05%, 03/07/48 (Call 09/07/47)		475		554,137
4.10%, 03/04/49 (Call 09/04/48)^(a)		565		666,454
4.30%, 08/25/45 (Call 02/25/45)		390		470,039
4.60%, 08/01/43		91		112,591
5.35%, 11/01/40		813		1,084,584
6.25%, 06/15/37		700		1,002,513
6.75%, 06/20/36		550		806,720
Travelers Property Casualty Corp., 6.38%, 03/15/33		390		547,654
Unum Group 4.50%, 12/15/49 (Call 06/15/49)		200		192,948
5.75%, 08/15/42		360		406,961
Voya Financial Inc. 4.80%, 06/15/46		100		114,426
5.70%, 07/15/43		530		672,229
Western & Southern Financial Group Inc., 5.75%, 07/15/33^(b)		200		256,925
Western & Southern Life Insurance Co. (The), 5.15%, 01/15/49 (Call 07/15/48)^(a)(b)		150		184,474
Willis North America Inc. 3.88%, 09/15/49 (Call 03/15/49)^(a)		195		193,220
5.05%, 09/15/48 (Call 03/15/48)		680		795,442
WR Berkley Corp., 4.75%, 08/01/44		210		238,889
XLIT Ltd., 5.50%, 03/31/45^(a)		661		848,063

				95,334,304

Internet — 0.9%
Alibaba Group Holding Ltd. 4.00%, 12/06/37 (Call 06/06/37)		1,115		1,197,293
4.20%, 12/06/47 (Call 06/06/47)		1,050		1,178,803


Security	Par (000)		Value

Internet (continued)
4.40%, 12/06/57 (Call 06/06/57)	$	435	$	497,853
4.50%, 11/28/34 (Call 05/28/34)		625		713,156
Amazon.com Inc. 3.88%, 08/22/37 (Call 02/22/37)		2,377		2,702,791
4.05%, 08/22/47 (Call 02/22/47)		3,003		3,569,809
4.25%, 08/22/57 (Call 02/22/57)		1,240		1,518,367
4.80%, 12/05/34 (Call 06/05/34)		1,785		2,228,427
4.95%, 12/05/44 (Call 06/05/44)		1,105		1,444,669
eBay Inc., 4.00%, 07/15/42 (Call 01/15/42)		857		820,395
Expedia Group Inc., 3.25%, 02/15/30 (Call 11/15/29)^(b)		165		165,112
Tencent Holdings Ltd. 3.93%, 01/19/38 (Call 07/19/37)^(b)		875		931,263
4.53%, 04/11/49 (Call 10/11/48)^(a)(b)		200		236,528

				17,204,466

Iron & Steel — 0.3%
ArcelorMittal 6.75%, 03/01/41		560		666,294
7.00%, 10/15/39		440		537,947
Nucor Corp. 4.40%, 05/01/48 (Call 11/01/47)		325		374,980
5.20%, 08/01/43 (Call 02/01/43)		719		901,730
6.40%, 12/01/37		380		522,086
Vale Overseas Ltd. 6.88%, 11/21/36		1,000		1,263,875
6.88%, 11/10/39		1,270		1,623,616
Vale SA, 5.63%, 09/11/42		405		458,916

				6,349,444

Leisure Time — 0.0%
Harley-Davidson Inc., 4.63%, 07/28/45 (Call 01/28/45)		225		233,706


Lodging — 0.0%
Marriott International Inc./MD, 4.50%, 10/01/34 (Call 04/01/34)		245		272,412


Machinery — 0.5%
ABB Finance USA Inc., 4.38%, 05/08/42		412		500,028
Caterpillar Inc. 3.25%, 09/19/49 (Call 03/19/49)		455		464,108
3.80%, 08/15/42		1,250		1,398,506
4.30%, 05/15/44 (Call 11/15/43)		460		551,742
4.75%, 05/15/64 (Call 11/15/63)		740		924,428
5.20%, 05/27/41		595		779,254
5.30%, 09/15/35		86		109,443
6.05%, 08/15/36^(a)		111		152,599
Crane Co., 4.20%, 03/15/48 (Call 09/15/47)		45		46,320
Cummins Inc., 4.88%, 10/01/43 (Call 04/01/43)		305		384,054
Deere & Co. 2.88%, 09/07/49 (Call 03/07/49)		305		293,209
3.90%, 06/09/42 (Call 12/09/41)		1,713		1,952,312
7.13%, 03/03/31		188		268,026
Dover Corp., 5.38%, 03/01/41 (Call 12/01/40)		460		573,422
Rockwell Automation Inc., 4.20%, 03/01/49
(Call 09/01/48)		779		930,218
Xylem Inc./NY, 4.38%, 11/01/46 (Call 05/01/46)		225		250,762

				9,578,431

Manufacturing — 1.4%
3M Co. 3.13%, 09/19/46 (Call 03/19/46)		1,050		1,047,000
3.25%, 08/26/49 (Call 02/26/49)		665		672,939
3.63%, 10/15/47 (Call 04/15/47)^(a)		911		984,297


Security	Par (000)		Value

Manufacturing (continued)
3.88%, 06/15/44	$	150	$	165,057
4.00%, 09/14/48 (Call 03/14/48)^(a)		543		616,091
5.70%, 03/15/37		215		289,710
Eaton Corp. 4.00%, 11/02/32		1,050		1,207,795
4.15%, 11/02/42		865		968,853
General Electric Co. 4.13%, 10/09/42		202		206,189
4.50%, 03/11/44		175		189,659
5.88%, 01/14/38		1,913		2,289,472
6.15%, 08/07/37		1,219		1,499,064
6.88%, 01/10/39		1,345		1,780,652
Series A, 6.75%, 03/15/32		2,270		2,891,504
Illinois Tool Works Inc. 3.90%, 09/01/42 (Call 03/01/42)		1,495		1,744,949
4.88%, 09/15/41 (Call 03/15/41)^(a)		200		258,237
Ingersoll-Rand Global Holding Co. Ltd. 4.30%, 02/21/48 (Call 08/21/47)		125		138,005
5.75%, 06/15/43		575		737,107
Ingersoll-Rand Luxembourg Finance SA 4.50%, 03/21/49 (Call 09/21/48)		405		461,841
4.65%, 11/01/44 (Call 05/01/44)		165		188,147
Parker-Hannifin Corp. 4.00%, 06/14/49 (Call 12/14/48)		460		497,540
4.10%, 03/01/47 (Call 09/01/46)		270		296,692
4.20%, 11/21/34 (Call 05/21/34)		312		350,969
4.45%, 11/21/44 (Call 05/21/44)		1,060		1,180,490
Series A, 6.25%, 05/15/38		455		607,640
Siemens Financieringsmaatschappij NV 3.30%, 09/15/46^(b)		1,160		1,197,484
4.20%, 03/16/47^(b)		1,445		1,723,084
4.40%, 05/27/45^(b)		663		799,406

				24,989,873

Media — 4.8%
CBS Corp. 4.60%, 01/15/45 (Call 07/15/44)^(a)		780		851,295
4.85%, 07/01/42 (Call 01/01/42)		285		316,430
4.90%, 08/15/44 (Call 02/15/44)		560		626,810
5.50%, 05/15/33		325		395,355
5.90%, 10/15/40 (Call 04/15/40)^(a)		115		141,160
7.88%, 07/30/30		415		585,193
Charter Communications Operating LLC/Charter Communications Operating Capital 4.80%, 03/01/50 (Call 09/01/49)		500		511,824
5.13%, 07/01/49 (Call 01/01/49)		465		496,754
5.38%, 04/01/38 (Call 10/01/37)		849		956,621
5.38%, 05/01/47 (Call 11/01/46)		2,205		2,422,451
5.75%, 04/01/48 (Call 10/01/47)		2,212		2,542,346
6.38%, 10/23/35 (Call 04/23/35)		1,720		2,114,708
6.48%, 10/23/45 (Call 04/23/45)		2,205		2,711,552
6.83%, 10/23/55 (Call 04/23/55)^(a)		430		549,278
Comcast Corp. 3.20%, 07/15/36 (Call 01/15/36)		1,305		1,325,909
3.40%, 07/15/46 (Call 01/15/46)		1,090		1,107,083
3.45%, 02/01/50 (Call 08/01/49)		250		256,526
3.90%, 03/01/38 (Call 09/01/37)		1,083		1,187,273
3.97%, 11/01/47 (Call 05/01/47)		1,800		1,971,786
4.00%, 08/15/47 (Call 02/15/47)		930		1,027,548
4.00%, 03/01/48 (Call 09/01/47)		893		984,000
4.00%, 11/01/49 (Call 05/01/49)		1,660		1,841,102


Security	Par (000)		Value

Media (continued)
4.05%, 11/01/52 (Call 05/01/52)	$	1,075	$	1,196,215
4.20%, 08/15/34 (Call 02/15/34)		1,001		1,156,595
4.25%, 10/15/30 (Call 07/15/30)		1,505		1,728,499
4.25%, 01/15/33		2,580		2,976,743
4.40%, 08/15/35 (Call 02/15/35)		605		701,219
4.50%, 01/15/43		1,105		1,292,783
4.60%, 10/15/38 (Call 04/15/38)		2,215		2,631,906
4.60%, 08/15/45 (Call 02/15/45)		895		1,072,238
4.65%, 07/15/42		625		746,153
4.70%, 10/15/48 (Call 04/15/48)		2,830		3,484,971
4.75%, 03/01/44		1,100		1,335,965
4.95%, 10/15/58 (Call 04/15/58)		1,135		1,466,119
5.65%, 06/15/35		296		383,441
6.40%, 05/15/38		87		122,856
6.45%, 03/15/37		270		379,057
6.50%, 11/15/35		635		894,976
6.55%, 07/01/39		80		117,312
6.95%, 08/15/37		680		995,924
7.05%, 03/15/33		621		890,458
Cox Communications Inc.
4.60%, 08/15/47 (Call 02/15/47)^(b)		865		944,635
4.70%, 12/15/42^(b)		175		188,295
8.38%, 03/01/39^(a)(b)		800		1,190,109
Discovery Communications LLC
4.88%, 04/01/43		645		668,922
4.95%, 05/15/42		665		702,420
5.00%, 09/20/37 (Call 03/20/37)		1,290		1,400,876
5.20%, 09/20/47 (Call 03/20/47)		1,220		1,334,138
5.30%, 05/15/49 (Call 11/15/48)		820		921,858
6.35%, 06/01/40		625		762,542
Fox Corp.
5.48%, 01/25/39 (Call 07/25/38)^(b)		1,733		2,131,140
5.58%, 01/25/49 (Call 07/25/48)^(b)		1,125		1,412,913
Grupo Televisa SAB
5.00%, 05/13/45 (Call 11/13/44)		975		1,035,633
5.25%, 05/24/49 (Call 11/24/48)^(a)		500		546,875
6.13%, 01/31/46 (Call 07/31/45)^(a)		200		244,000
6.63%, 01/15/40		429		536,250
NBCUniversal Media LLC
4.45%, 01/15/43^(a)		660		762,874
5.95%, 04/01/41^(a)		735		1,013,154
Thomson Reuters Corp.
5.50%, 08/15/35		150		170,424
5.65%, 11/23/43 (Call 05/23/43)		235		281,974
5.85%, 04/15/40		375		449,058
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)^(a)		700		700,583
5.50%, 09/01/41 (Call 03/01/41)		895		986,844
5.88%, 11/15/40 (Call 05/15/40)		1,275		1,457,158
6.55%, 05/01/37		1,072		1,300,508
6.75%, 06/15/39		1,445		1,774,559
7.30%, 07/01/38		1,536		1,958,109
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		500		693,865
TWDC Enterprises 18 Corp.
3.00%, 07/30/46		350		349,972
3.70%, 12/01/42		300		334,578
4.13%, 06/01/44		1,125		1,345,617
4.38%, 08/16/41		400		483,620
Series B, 7.00%, 03/01/32		200		294,804
Series E, 4.13%, 12/01/41		250		293,661


Security	Par (000)		Value

Media (continued)
Viacom Inc.
4.38%, 03/15/43	$	1,200	$	1,237,539
5.25%, 04/01/44 (Call 10/01/43)^(a)		735		833,451
5.85%, 09/01/43 (Call 03/01/43)		1,240		1,518,097
6.88%, 04/30/36		1,010		1,333,388
Walt Disney Co. (The)
2.75%, 09/01/49 (Call 03/01/49)		1,150		1,092,974
4.75%, 09/15/44 (Call 03/15/44)^(b)		728		930,912
4.75%, 11/15/46 (Call 05/15/46)^(b)		20		25,860
4.95%, 10/15/45 (Call 04/15/45)^(b)		495		657,640
5.40%, 10/01/43^(b)		400		555,149
6.20%, 12/15/34^(b)		760		1,075,362
6.40%, 12/15/35^(a)(b)		552		794,416
6.55%, 03/15/33^(b)		275		391,358
6.65%, 11/15/37^(b)		780		1,167,298

				88,781,846

Metal Fabricate & Hardware — 0.1%
Precision Castparts Corp.
3.90%, 01/15/43 (Call 07/15/42)		491		545,345
4.38%, 06/15/45 (Call 12/15/44)		406		481,368
Valmont Industries Inc.
5.00%, 10/01/44 (Call 04/01/44)		410		430,211
5.25%, 10/01/54 (Call 04/01/54)		460		472,609

				1,929,533

Mining — 1.7%
Barrick Gold Corp.
5.25%, 04/01/42		937		1,144,860
6.45%, 10/15/35		70		90,496
Barrick North America Finance LLC
5.70%, 05/30/41		486		618,279
5.75%, 05/01/43		1,264		1,652,234
7.50%, 09/15/38		222		310,825
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		374		477,187
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42		624		723,314
5.00%, 09/30/43		2,097		2,739,301
Corp. Nacional del Cobre de Chile
4.25%, 07/17/42^(b)		1,150		1,230,859
4.38%, 02/05/49 (Call 08/05/48)^(b)		1,475		1,628,492
4.50%, 08/01/47 (Call 02/01/47)^(b)		1,050		1,176,000
4.88%, 11/04/44		45		52,734
5.63%, 10/18/43^(b)		1,400		1,795,063
Glencore Canada Corp., 6.20%, 06/15/35		35		40,048
Glencore Finance Canada Ltd.
5.55%, 10/25/42^(b)		225		241,157
6.00%, 11/15/41^(b)		135		152,901
6.90%, 11/15/37^(b)		100		123,519
Indonesia Asahan Aluminium Persero PT, 6.76%, 11/15/48^(b)		800		1,026,000
Industrias Penoles SAB de CV, 5.65%, 09/12/49 (Call 03/12/49)		400		412,156
Kinross Gold Corp., 6.88%, 09/01/41 (Call 03/01/41)		40		46,300
Minera Mexico SA de CV, 4.50%, 01/26/50 (Call 07/26/49)^(b)		500		488,475
Newmont Goldcorp Corp.
4.88%, 03/15/42 (Call 09/15/41)		498		589,473
5.45%, 06/09/44 (Call 12/09/43)		704		886,033
5.88%, 04/01/35		250		320,978
6.25%, 10/01/39		1,053		1,402,804


Security	Par (000)		Value

Mining (continued)
Rio Tinto Alcan Inc. 5.75%, 06/01/35	$	136	$	176,637
6.13%, 12/15/33		501		680,683
7.25%, 03/15/31		1,016		1,419,412
Rio Tinto Finance USA Ltd., 5.20%, 11/02/40		465		604,319
Rio Tinto Finance USA PLC 4.13%, 08/21/42 (Call 02/21/42)		950		1,097,419
4.75%, 03/22/42 (Call 09/22/41)^(a)		415		515,840
Southern Copper Corp. 5.25%, 11/08/42		805		902,103
5.88%, 04/23/45		1,195		1,445,278
6.75%, 04/16/40		785		1,017,802
7.50%, 07/27/35		595		794,697
Teck Resources Ltd. 5.20%, 03/01/42 (Call 09/01/41)		150		148,384
5.40%, 02/01/43 (Call 08/01/42)		385		391,880
6.00%, 08/15/40 (Call 02/15/40)		555		600,165
6.13%, 10/01/35		840		948,020
6.25%, 07/15/41 (Call 01/15/41)		470		523,760

				30,635,887

Oil & Gas — 7.6%
Apache Corp. 4.25%, 01/15/30 (Call 10/15/29)^(a)		415		404,160
4.25%, 01/15/44 (Call 07/15/43)		973		831,421
4.75%, 04/15/43 (Call 10/15/42)		1,090		994,528
5.10%, 09/01/40 (Call 03/01/40)		1,075		1,026,600
5.25%, 02/01/42 (Call 08/01/41)		455		442,399
5.35%, 07/01/49 (Call 01/01/49)		400		387,233
7.75%, 12/15/29		55		68,683
Burlington Resources LLC 5.95%, 10/15/36		410		554,157
7.20%, 08/15/31		350		496,650
7.40%, 12/01/31		345		497,500
Canadian Natural Resources Ltd. 4.95%, 06/01/47 (Call 12/01/46)^(a)		725		848,756
5.85%, 02/01/35		150		181,797
6.25%, 03/15/38		1,440		1,820,769
6.45%, 06/30/33		255		326,413
6.50%, 02/15/37		175		225,043
6.75%, 02/01/39		185		246,111
7.20%, 01/15/32		300		403,630
Cenovus Energy Inc. 5.25%, 06/15/37 (Call 12/15/36)		545		589,744
5.40%, 06/15/47 (Call 12/15/46)^(a)		635		712,780
6.75%, 11/15/39		1,013		1,240,996
CNOOC Finance 2013 Ltd., 4.25%, 05/09/43		400		455,750
CNOOC Finance 2015 Australia Pty Ltd., 4.20%, 05/05/45^(a)		400		452,776
CNOOC Nexen Finance 2014 ULC, 4.88%, 04/30/44		700		868,035
CNPC HK Overseas Capital Ltd., 5.95%, 04/28/41		400		556,000
Concho Resources Inc. 4.85%, 08/15/48 (Call 02/15/48)^(a)		245		275,467
4.88%, 10/01/47 (Call 04/01/47)		1,110		1,258,673
Conoco Funding Co., 7.25%, 10/15/31		630		895,995
ConocoPhillips 5.90%, 10/15/32		493		650,974
5.90%, 05/15/38		635		868,691
6.50%, 02/01/39		2,220		3,251,805
ConocoPhillips Co. 4.30%, 11/15/44 (Call 05/15/44)		1,084		1,269,378


Security	Par (000)		Value

Oil & Gas (continued)
5.95%, 03/15/46 (Call 09/15/45)	$	350	$	507,081
Continental Resources Inc./OK, 4.90%, 06/01/44 (Call 12/01/43)		440		434,070
Devon Energy Corp. 4.75%, 05/15/42 (Call 11/15/41)		689		756,073
5.00%, 06/15/45 (Call 12/15/44)		762		866,987
5.60%, 07/15/41 (Call 01/15/41)		940		1,119,011
7.95%, 04/15/32		150		216,019
Ecopetrol SA 5.88%, 05/28/45		1,580		1,821,098
7.38%, 09/18/43		700		930,563
Empresa Nacional del Petroleo, 4.50%, 09/14/47 (Call 03/14/47)^(a)(b)		750		786,328
Encana Corp. 6.50%, 08/15/34		1,275		1,512,153
6.50%, 02/01/38		585		683,460
6.63%, 08/15/37^(a)		235		277,347
7.20%, 11/01/31		100		123,454
7.38%, 11/01/31		150		188,336
8.13%, 09/15/30		200		259,105
EOG Resources Inc. 3.90%, 04/01/35 (Call 10/01/34)		575		635,098
5.10%, 01/15/36 (Call 07/15/35)^(a)		195		236,395
Equinor ASA 3.95%, 05/15/43		1,089		1,251,182
4.25%, 11/23/41		550		649,894
4.80%, 11/08/43		943		1,208,810
5.10%, 08/17/40		392		509,775
Exxon Mobil Corp. 3.00%, 08/16/39 (Call 02/16/39)		600		608,029
3.10%, 08/16/49 (Call 02/16/49)^(a)		850		865,734
3.57%, 03/06/45 (Call 09/06/44)		847		915,676
4.11%, 03/01/46 (Call 09/01/45)		1,774		2,115,161
Gazprom OAO Via Gaz Capital SA, 7.29%, 08/16/37^(b)		1,200		1,628,400
Hess Corp. 5.60%, 02/15/41		947		1,061,536
5.80%, 04/01/47 (Call 10/01/46)		315		365,956
6.00%, 01/15/40		885		1,007,714
7.13%, 03/15/33		300		370,824
7.30%, 08/15/31		650		818,988
Husky Energy Inc., 6.80%, 09/15/37		108		139,299
KazMunayGas National Co. JSC 5.38%, 04/24/30^(a)(b)		400		461,375
6.38%, 10/24/48^(b)		1,150		1,448,281
Marathon Oil Corp. 5.20%, 06/01/45 (Call 12/01/44)^(a)		765		857,196
6.60%, 10/01/37		424		520,823
6.80%, 03/15/32		511		643,709
Marathon Petroleum Corp. 4.50%, 04/01/48 (Call 10/01/47)		443		473,531
4.75%, 09/15/44 (Call 03/15/44)		607		666,048
5.00%, 09/15/54 (Call 03/15/54)		535		574,896
5.85%, 12/15/45 (Call 06/15/45)		380		436,378
6.50%, 03/01/41 (Call 09/01/40)		660		846,237
Motiva Enterprises LLC, 6.85%, 01/15/40^(b)		395		480,192
Nexen Inc. 5.88%, 03/10/35		537		697,597
6.40%, 05/15/37		1,625		2,273,477
7.50%, 07/30/39		490		779,559
7.88%, 03/15/32		640		944,400


Security	Par (000)		Value

Oil & Gas (continued)
Noble Energy Inc. 4.95%, 08/15/47 (Call 02/15/47)	$	280	$	298,491
5.05%, 11/15/44 (Call 05/15/44)		1,235		1,306,443
5.25%, 11/15/43 (Call 05/15/43)		545		588,292
6.00%, 03/01/41 (Call 09/01/40)		1,070		1,239,668
Occidental Petroleum Corp. 4.10%, 02/15/47 (Call 08/15/46)		810		776,978
4.20%, 03/15/48 (Call 09/15/47)		590		574,346
4.30%, 08/15/39 (Call 02/15/39)		470		478,548
4.40%, 04/15/46 (Call 10/15/45)		958		952,083
4.40%, 08/15/49 (Call 02/15/49)^(a)		400		405,703
4.50%, 07/15/44 (Call 01/15/44)		665		673,229
4.63%, 06/15/45 (Call 12/15/44)		675		690,483
6.20%, 03/15/40		660		795,470
6.45%, 09/15/36		1,275		1,562,826
6.60%, 03/15/46 (Call 09/15/45)		1,055		1,353,595
7.50%, 05/01/31		670		876,942
7.88%, 09/15/31		349		467,362
Pertamina Persero PT 4.70%, 07/30/49		1,550		1,621,822
6.45%, 05/30/44^(b)		2,100		2,683,406
6.50%, 11/07/48^(a)(b)		980		1,281,044
Petroleos del Peru SA 4.75%, 06/19/32^(b)		1,000		1,070,794
5.63%, 06/19/47^(b)		700		813,549
Petroleos Mexicanos 5.50%, 06/27/44		835		748,160
5.63%, 01/23/46		1,025		918,759
6.35%, 02/12/48		2,080		1,990,300
6.38%, 01/23/45		2,725		2,648,155
6.50%, 06/02/41		2,005		1,984,950
6.63%, 06/15/35		2,700		2,751,732
6.63%, 06/15/38		345		340,688
6.75%, 09/21/47		3,515		3,498,633
6.84%, 01/23/30 (Call 10/23/29)^(b)		2,470		2,633,638
7.69%, 01/23/50 (Call 07/23/49)^(b)		2,905		3,151,344
Petronas Capital Ltd., 4.50%, 03/18/45^(b)		900		1,095,233
Phillips 66 4.65%, 11/15/34 (Call 05/15/34)		1,109		1,288,870
4.88%, 11/15/44 (Call 05/15/44)		1,105		1,324,938
5.88%, 05/01/42^(a)		1,206		1,608,533
Saudi Arabian Oil Co. 4.25%, 04/16/39^(b)		2,805		3,003,510
4.38%, 04/16/49^(b)		2,400		2,610,000
Shell International Finance BV 3.63%, 08/21/42		208		221,547
3.75%, 09/12/46		910		1,013,607
4.00%, 05/10/46^(a)		1,795		2,053,100
4.13%, 05/11/35		1,785		2,055,404
4.38%, 05/11/45		1,715		2,080,610
4.55%, 08/12/43		1,260		1,543,528
5.50%, 03/25/40		1,350		1,817,946
6.38%, 12/15/38		1,160		1,689,173
Sinopec Capital 2013 Ltd., 4.25%, 04/24/43		400		454,318
Sinopec Group Overseas Development 2012 Ltd., 4.88%, 05/17/42^(b)		700		865,375
Sinopec Group Overseas Development 2017 Ltd. 4.00%, 09/13/47^(b)		535		589,854
4.25%, 04/12/47^(b)		600		687,483


Security	Par (000)		Value

Oil & Gas (continued)
Sinopec Group Overseas Development 2018 Ltd. 3.68%, 08/08/49 (Call 02/08/49)^(b)	$	1,200	$	1,264,500
4.60%, 09/12/48^(b)		700		849,748
Suncor Energy Inc. 4.00%, 11/15/47 (Call 05/15/47)		765		819,040
5.35%, 07/15/33		125		155,240
5.95%, 12/01/34		25		32,754
5.95%, 05/15/35		291		373,171
6.50%, 06/15/38		985		1,353,260
6.80%, 05/15/38		739		1,039,942
6.85%, 06/01/39		980		1,374,585
7.15%, 02/01/32		385		532,179
Thaioil Treasury Center Co. Ltd., 5.38%, 11/20/48^(b)		600		789,474
Tosco Corp., 8.13%, 02/15/30		61		88,443
Total Capital International SA 2.83%, 01/10/30 (Call 10/10/29)		710		735,264
3.46%, 07/12/49 (Call 01/12/49)		675		715,162
Valero Energy Corp. 4.90%, 03/15/45^(a)		670		758,080
6.63%, 06/15/37		1,339		1,747,251
7.50%, 04/15/32		655		897,387
10.50%, 03/15/39^(a)		100		168,008

				140,950,119

Oil & Gas Services — 0.5%
Baker Hughes a GE Co. LLC, 5.13%, 09/15/40		475		543,239
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc., 4.08%, 12/15/47 (Call 06/15/47)		1,845		1,850,966
Halliburton Co. 4.50%, 11/15/41 (Call 05/15/41)		200		208,887
4.75%, 08/01/43 (Call 02/01/43)		1,210		1,292,906
4.85%, 11/15/35 (Call 05/15/35)		745		827,597
5.00%, 11/15/45 (Call 05/15/45)		1,495		1,647,861
6.70%, 09/15/38		431		565,540
7.45%, 09/15/39^(a)		1,015		1,437,480
National Oilwell Varco Inc., 3.95%, 12/01/42 (Call 06/01/42)		1,280		1,185,839

				9,560,315

Packaging & Containers — 0.1%
Sonoco Products Co., 5.75%, 11/01/40 (Call 05/01/40)		624		770,640
WestRock MWV LLC 7.95%, 02/15/31		151		208,525
8.20%, 01/15/30		195		270,001
WRKCo Inc., 4.20%, 06/01/32 (Call 03/01/32)^(a)		1,280		1,420,631

				2,669,797

Pharmaceuticals — 6.3%
AbbVie Inc. 4.30%, 05/14/36 (Call 11/14/35)		1,310		1,391,331
4.40%, 11/06/42		1,810		1,875,417
4.45%, 05/14/46 (Call 11/14/45)		1,169		1,208,220
4.50%, 05/14/35 (Call 11/14/34)		2,140		2,322,301
4.70%, 05/14/45 (Call 11/14/44)		2,070		2,214,288
4.88%, 11/14/48 (Call 05/14/48)^(a)		1,295		1,429,767
Allergan Finance LLC, 4.63%, 10/01/42 (Call 04/01/42)		400		418,009
Allergan Funding SCS 4.55%, 03/15/35 (Call 09/15/34)		1,840		1,967,896
4.75%, 03/15/45 (Call 09/15/44)		894		951,527
4.85%, 06/15/44 (Call 12/15/43)		1,060		1,141,624


Security	Par (000)		Value

Pharmaceuticals (continued)
AmerisourceBergen Corp. 4.25%, 03/01/45 (Call 09/01/44)^(a)	$	200	$	206,417
4.30%, 12/15/47 (Call 06/15/47)		530		548,295
AstraZeneca PLC 4.00%, 09/18/42		745		828,533
4.38%, 11/16/45		1,335		1,578,593
4.38%, 08/17/48 (Call 02/17/48)^(a)		933		1,108,028
6.45%, 09/15/37		2,220		3,135,227
Bayer U.S. Finance II LLC 3.95%, 04/15/45 (Call 10/15/44)^(b)		300		283,832
4.20%, 07/15/34 (Call 01/15/34)^(b)		565		593,411
4.40%, 07/15/44 (Call 01/15/44)^(b)		675		674,230
4.63%, 06/25/38 (Call 12/25/37)^(b)		1,625		1,779,263
4.65%, 11/15/43 (Call 05/15/43)^(b)		74		74,364
4.70%, 07/15/64 (Call 01/15/64)^(a)(b)		1,100		1,059,081
4.88%, 06/25/48 (Call 12/25/47)^(a)(b)		1,275		1,421,650
5.50%, 07/30/35		100		114,927
Bristol-Myers Squibb Co. 3.25%, 08/01/42^(a)		709		719,373
4.13%, 06/15/39 (Call 12/15/38)^(b)		2,180		2,483,663
4.25%, 10/26/49 (Call 04/26/49)^(b)		2,175		2,543,609
4.50%, 03/01/44 (Call 09/01/43)^(a)		690		821,207
Cardinal Health Inc. 4.37%, 06/15/47 (Call 12/15/46)^(a)		385		378,969
4.50%, 11/15/44 (Call 05/15/44)		480		471,026
4.60%, 03/15/43		470		469,008
4.90%, 09/15/45 (Call 03/15/45)		310		320,139
Cigna Corp. 3.88%, 10/15/47 (Call 04/15/47)^(a)(b)		1,117		1,095,271
4.80%, 08/15/38 (Call 02/15/38)		1,405		1,596,109
4.80%, 07/15/46 (Call 01/16/46)^(b)		1,710		1,907,115
4.90%, 12/15/48 (Call 06/15/48)^(a)		2,215		2,572,680
6.13%, 11/15/41^(b)		205		258,661
CVS Health Corp. 4.78%, 03/25/38 (Call 09/25/37)^(a)		4,165		4,622,794
4.88%, 07/20/35 (Call 01/20/35)		1,360		1,546,114
5.05%, 03/25/48 (Call 09/25/47)		5,050		5,820,787
5.13%, 07/20/45 (Call 01/20/45)		2,480		2,858,594
5.30%, 12/05/43 (Call 06/05/43)		783		911,995
Eli Lilly & Co. 3.70%, 03/01/45 (Call 09/01/44)		1,205		1,339,706
3.88%, 03/15/39 (Call 09/15/38)^(a)		774		896,849
3.95%, 05/15/47 (Call 11/15/46)		695		812,989
3.95%, 03/15/49 (Call 09/15/48)		1,040		1,216,473
4.15%, 03/15/59 (Call 09/15/58)		968		1,158,243
5.55%, 03/15/37^(a)		376		506,725
5.95%, 11/15/37		400		565,436
GlaxoSmithKline Capital Inc. 4.20%, 03/18/43		415		489,807
5.38%, 04/15/34		570		745,146
6.38%, 05/15/38		2,415		3,534,640
Johnson & Johnson 3.40%, 01/15/38 (Call 07/15/37)		900		972,432
3.50%, 01/15/48 (Call 07/15/47)		641		706,860
3.55%, 03/01/36 (Call 09/01/35)		1,024		1,128,062
3.63%, 03/03/37 (Call 09/03/36)^(a)		1,755		1,967,260
3.70%, 03/01/46 (Call 09/01/45)		860		975,041
3.75%, 03/03/47 (Call 09/03/46)		1,315		1,504,846
4.38%, 12/05/33 (Call 06/05/33)		1,049		1,270,946
4.50%, 09/01/40^(a)		310		384,879


Security	Par (000)		Value

Pharmaceuticals (continued)
4.50%, 12/05/43 (Call 06/05/43)	$	275	$	343,987
4.85%, 05/15/41		386		498,662
4.95%, 05/15/33		496		631,106
5.85%, 07/15/38^(a)		105		149,983
5.95%, 08/15/37		805		1,157,479
McKesson Corp., 4.88%, 03/15/44 (Call 09/15/43)		330		363,550
Mead Johnson Nutrition Co. 4.60%, 06/01/44 (Call 12/01/43)		513		635,338
5.90%, 11/01/39		340		462,360
Merck & Co. Inc. 3.60%, 09/15/42 (Call 03/15/42)		595		661,787
3.70%, 02/10/45 (Call 08/10/44)		1,910		2,143,781
3.90%, 03/07/39 (Call 09/07/38)		1,565		1,813,557
4.00%, 03/07/49 (Call 09/07/48)^(a)		650		776,109
4.15%, 05/18/43		1,120		1,345,121
6.55%, 09/15/37		75		110,181
Merck Sharp & Dohme Corp., 5.75%, 11/15/36		25		33,867
Mylan Inc. 5.20%, 04/15/48 (Call 10/15/47)		395		423,800
5.40%, 11/29/43 (Call 05/29/43)		830		888,622
Mylan NV, 5.25%, 06/15/46 (Call 12/15/45)		590		632,692
Novartis Capital Corp. 3.70%, 09/21/42		255		284,770
4.00%, 11/20/45 (Call 05/20/45)		1,260		1,492,760
4.40%, 05/06/44		1,930		2,388,108
Perrigo Finance Unlimited Co., 4.90%, 12/15/44 (Call 06/15/44)		645		604,198
Pfizer Inc. 3.90%, 03/15/39 (Call 09/15/38)^(a)		423		483,642
4.00%, 12/15/36		1,770		1,995,573
4.00%, 03/15/49 (Call 09/15/48)		390		455,864
4.10%, 09/15/38 (Call 03/15/38)		1,255		1,463,160
4.13%, 12/15/46		729		866,779
4.20%, 09/15/48 (Call 03/15/48)		170		203,314
4.30%, 06/15/43		711		854,856
4.40%, 05/15/44		1,080		1,316,060
5.60%, 09/15/40		465		630,667
7.20%, 03/15/39		1,940		3,054,505
Wyeth LLC 5.95%, 04/01/37		1,530		2,103,886
6.00%, 02/15/36		551		758,444
6.50%, 02/01/34		764		1,087,171
Zoetis Inc. 3.95%, 09/12/47 (Call 03/12/47)		611		668,959
4.45%, 08/20/48 (Call 02/20/48)		330		395,454
4.70%, 02/01/43 (Call 08/01/42)		1,081		1,310,608

				115,390,445

Pipelines — 4.4%
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, 11/02/47^(b)		2,065		2,390,238
Colonial Pipeline Co. 4.25%, 04/15/48 (Call 10/15/47)^(b)		20		23,006
7.63%, 04/15/32^(b)		85		124,206
Columbia Pipeline Group Inc., 5.80%, 06/01/45 (Call 12/01/44)		560		705,489
El Paso Natural Gas Co. LLC, 8.38%, 06/15/32		50		69,283
Enable Midstream Partners LP, 5.00%, 05/15/44 (Call 11/15/43)		260		229,199
Enbridge Energy Partners LP 5.50%, 09/15/40 (Call 03/15/40)		488		581,139
7.38%, 10/15/45 (Call 04/15/45)		295		438,501


Security	Par (000)		Value

Pipelines (continued)
Series B, 7.50%, 04/15/38	$	250	$	355,442
Enbridge Inc. 4.50%, 06/10/44 (Call 12/10/43)		800		861,697
5.50%, 12/01/46 (Call 06/01/46)^(a)		545		690,188
Energy Transfer Operating LP 4.90%, 03/15/35 (Call 09/15/34)		650		679,010
5.15%, 02/01/43 (Call 08/01/42)		350		357,796
5.15%, 03/15/45 (Call 09/15/44)		591		616,108
5.30%, 04/15/47 (Call 10/15/46)		1,500		1,580,071
5.95%, 10/01/43 (Call 04/01/43)		505		563,952
6.05%, 06/01/41 (Call 12/01/40)		50		56,391
6.13%, 12/15/45 (Call 06/15/45)		985		1,149,838
6.25%, 04/15/49 (Call 10/15/48)		1,175		1,403,273
6.50%, 02/01/42 (Call 08/01/41)		775		928,220
6.63%, 10/15/36		205		248,832
7.50%, 07/01/38		290		369,458
8.25%, 11/15/29 (Call 08/15/29)		165		213,000
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)		855		989,966
Enterprise Products Operating LLC 4.20%, 01/31/50 (Call 07/31/49)		1,000		1,057,513
4.25%, 02/15/48 (Call 08/15/47)		975		1,046,241
4.45%, 02/15/43 (Call 08/15/42)		810		882,759
4.80%, 02/01/49 (Call 08/01/48)		640		738,996
4.85%, 08/15/42 (Call 02/15/42)		698		803,967
4.85%, 03/15/44 (Call 09/15/43)		1,705		1,946,832
4.90%, 05/15/46 (Call 11/15/45)		765		883,121
4.95%, 10/15/54 (Call 04/15/54)		335		389,219
5.10%, 02/15/45 (Call 08/15/44)		850		992,207
5.70%, 02/15/42		585		734,143
5.95%, 02/01/41		755		958,393
6.13%, 10/15/39		410		531,632
6.45%, 09/01/40		100		133,737
7.55%, 04/15/38		150		216,632
Series D, 6.88%, 03/01/33		405		554,680
Series H, 6.65%, 10/15/34		141		192,391
Series J, 5.75%, 03/01/35		75		89,086
EQM Midstream Partners LP, Series 30Y, 6.50%, 07/15/48 (Call 01/15/48)		245		224,343
Kinder Morgan Energy Partners LP 4.70%, 11/01/42 (Call 05/01/42)		340		353,014
5.00%, 08/15/42 (Call 02/15/42)		580		628,544
5.00%, 03/01/43 (Call 09/01/42)		475		510,659
5.40%, 09/01/44 (Call 03/01/44)		465		522,214
5.50%, 03/01/44 (Call 09/01/43)		795		908,464
5.80%, 03/15/35		300		351,719
6.38%, 03/01/41		415		507,189
6.50%, 02/01/37		50		61,540
6.50%, 09/01/39		342		422,709
6.55%, 09/15/40		235		291,022
6.95%, 01/15/38		860		1,111,741
7.30%, 08/15/33		51		68,287
7.40%, 03/15/31		148		192,080
7.50%, 11/15/40		370		509,019
7.75%, 03/15/32		100		134,805
Kinder Morgan Inc./DE 5.05%, 02/15/46 (Call 08/15/45)		1,251		1,369,937
5.20%, 03/01/48 (Call 09/01/47)		725		824,722
5.30%, 12/01/34 (Call 06/01/34)		1,135		1,306,282
5.55%, 06/01/45 (Call 12/01/44)^(a)		1,285		1,507,547
7.75%, 01/15/32		1,087		1,496,782


Security	Par (000)		Value

Pipelines (continued)
Magellan Midstream Partners LP 3.95%, 03/01/50 (Call 09/01/49)	$	450	$	455,950
4.20%, 03/15/45 (Call 09/15/44)		255		255,235
4.20%, 10/03/47 (Call 04/03/47)		590		616,908
4.25%, 09/15/46 (Call 03/15/46)		235		249,432
4.85%, 02/01/49 (Call 08/01/48)^(a)		585		673,437
5.15%, 10/15/43 (Call 04/15/43)		470		550,709
MPLX LP 4.50%, 04/15/38 (Call 10/15/37)		1,595		1,629,818
4.70%, 04/15/48 (Call 10/15/47)		928		945,363
4.90%, 04/15/58 (Call 10/15/57)		365		362,434
5.20%, 03/01/47 (Call 09/01/46)^(a)		769		825,069
5.20%, 12/01/47 (Call 06/01/47)^(b)		140		149,649
5.50%, 02/15/49 (Call 08/15/48)		1,685		1,893,774
NGPL PipeCo LLC, 7.77%, 12/15/37^(b)		260		335,210
Northern Natural Gas Co., 4.30%, 01/15/49 (Call 07/15/48)^(a)(b)		270		312,512
ONEOK Inc. 4.45%, 09/01/49 (Call 03/01/49)		1,070		1,059,103
4.95%, 07/13/47 (Call 01/06/47)		385		416,878
5.20%, 07/15/48 (Call 01/15/48)		1,044		1,154,056
6.00%, 06/15/35^(a)		230		267,908
ONEOK Partners LP 6.13%, 02/01/41 (Call 08/01/40)		305		362,178
6.20%, 09/15/43 (Call 03/15/43)		295		360,770
6.65%, 10/01/36^(a)		210		258,937
6.85%, 10/15/37		300		383,034
Phillips 66 Partners LP 4.68%, 02/15/45 (Call 08/15/44)		110		117,101
4.90%, 10/01/46 (Call 04/01/46)		690		765,237
Plains All American Pipeline LP/PAA Finance Corp. 4.30%, 01/31/43 (Call 07/31/42)		220		193,472
4.70%, 06/15/44 (Call 12/15/43)		440		410,882
4.90%, 02/15/45 (Call 08/15/44)		740		711,073
5.15%, 06/01/42 (Call 12/01/41)		955		934,249
6.65%, 01/15/37		334		385,788
Rockies Express Pipeline LLC 6.88%, 04/15/40^(b)		50		52,755
7.50%, 07/15/38^(b)		260		287,625
Sabal Trail Transmission LLC 4.68%, 05/01/38 (Call 11/01/37)^(b)		205		233,559
4.83%, 05/01/48 (Call 11/01/47)^(b)		165		189,767
Southern Natural Gas Co. LLC 4.80%, 03/15/47 (Call 09/15/46)^(b)		160		177,204
8.00%, 03/01/32		75		107,868
Spectra Energy Partners LP 4.50%, 03/15/45 (Call 09/15/44)		490		537,153
5.95%, 09/25/43 (Call 03/25/43)		350		432,702
Sunoco Logistics Partners Operations LP 4.95%, 01/15/43 (Call 07/15/42)^(a)		250		249,164
5.30%, 04/01/44 (Call 10/01/43)		686		727,835
5.35%, 05/15/45 (Call 11/15/44)		665		712,304
5.40%, 10/01/47 (Call 04/01/47)		1,260		1,353,773
6.10%, 02/15/42		225		254,163
Texas Eastern Transmission LP 4.15%, 01/15/48 (Call 07/15/47)^(b)		440		465,930
7.00%, 07/15/32		340		453,187
TransCanada PipeLines Ltd. 4.63%, 03/01/34 (Call 12/01/33)		1,420		1,620,969
4.75%, 05/15/38 (Call 11/15/37)		240		271,717


Security	Par (000)		Value

Pipelines (continued)
4.88%, 05/15/48 (Call 11/15/47)	$	745	$	865,215
5.00%, 10/16/43 (Call 04/16/43)		841		969,804
5.10%, 03/15/49 (Call 09/15/48)^(a)		1,145		1,374,587
5.60%, 03/31/34		150		183,627
5.85%, 03/15/36		150		184,275
6.10%, 06/01/40		447		577,320
6.20%, 10/15/37		853		1,093,653
7.25%, 08/15/38^(a)		430		610,654
7.63%, 01/15/39		759		1,122,069
Transcontinental Gas Pipe Line Co. LLC 4.45%, 08/01/42 (Call 02/01/42)		300		315,942
4.60%, 03/15/48 (Call 09/15/47)^(a)		730		787,655
5.40%, 08/15/41 (Call 02/15/41)		151		177,644
Western Midstream Operating LP 5.30%, 03/01/48 (Call 09/01/47)		580		491,578
5.45%, 04/01/44 (Call 10/01/43)		725		630,185
5.50%, 08/15/48 (Call 02/15/48)		225		195,128
Williams Companies Inc. (The) 4.85%, 03/01/48 (Call 09/01/47)^(a)		475		508,615
4.90%, 01/15/45 (Call 07/15/44)		455		479,953
5.10%, 09/15/45 (Call 03/15/45)		1,494		1,638,920
5.40%, 03/04/44 (Call 09/04/43)		735		815,790
5.80%, 11/15/43 (Call 05/15/43)		75		87,004
6.30%, 04/15/40		1,310		1,590,155
8.75%, 03/15/32		125		178,706
Series A, 7.50%, 01/15/31^(a)		105		137,725

				81,258,516

Private Equity — 0.1%
Apollo Management Holdings LP, 5.00%, 03/15/48 (Call 09/15/47)^(a)(b)		85		98,041
Carlyle Finance LLC, 5.65%, 09/15/48 (Call 03/15/48)^(a)(b)		325		383,013
KKR Group Finance Co. III LLC, 5.13%, 06/01/44 (Call 12/01/43)^(a)(b)		615		731,064

				1,212,118

Real Estate Investment Trusts — 1.3%
Alexandria Real Estate Equities Inc. 3.38%, 08/15/31 (Call 05/15/31)		1,140		1,198,287
4.00%, 02/01/50 (Call 08/01/49)		200		219,785
4.70%, 07/01/30 (Call 04/01/30)		965		1,124,415
4.85%, 04/15/49 (Call 10/15/48)		190		236,827
AvalonBay Communities Inc. 3.90%, 10/15/46 (Call 04/15/46)		301		337,597
4.15%, 07/01/47 (Call 01/01/47)		150		175,248
Camden Property Trust, 3.35%, 11/01/49 (Call 05/01/49)		250		253,245
Crown Castle International Corp. 3.10%, 11/15/29 (Call 08/15/29)^(a)		500		508,073
4.00%, 11/15/49 (Call 05/15/49)		175		182,773
5.20%, 02/15/49 (Call 08/15/48)		437		544,891
ERP Operating LP 4.50%, 07/01/44 (Call 01/01/44)^(a)		968		1,161,284
4.50%, 06/01/45 (Call 12/01/44)		465		562,603
Essex Portfolio LP, 4.50%, 03/15/48 (Call 09/15/47)		225		263,332
Federal Realty Investment Trust 3.63%, 08/01/46 (Call 02/01/46)^(a)		475		496,662
4.50%, 12/01/44 (Call 06/01/44)		397		472,685
GLP Capital LP/GLP Financing II Inc., 4.00%, 01/15/30 (Call 10/15/29)		150		151,721
HCP Inc., 6.75%, 02/01/41 (Call 08/01/40)		165		234,781


Security	Par (000)		Value

Real Estate Investment Trusts (continued)
Kimco Realty Corp. 3.70%, 10/01/49 (Call 04/01/49)	$	685	$	678,295
4.25%, 04/01/45 (Call 10/01/44)		355		384,799
4.45%, 09/01/47 (Call 03/01/47)^(a)		450		500,000
Prologis LP, 4.38%, 09/15/48 (Call 03/15/48)		115		141,691
Realty Income Corp., 4.65%, 03/15/47 (Call 09/15/46)		520		643,888
Regency Centers LP 4.40%, 02/01/47 (Call 08/01/46)		385		440,923
4.65%, 03/15/49 (Call 09/15/48)		560		671,375
Service Properties Trust, 4.38%, 02/15/30 (Call 08/15/29)		425		410,159
Simon Property Group LP 3.25%, 09/13/49 (Call 03/13/49)		355		351,834
4.25%, 10/01/44 (Call 04/01/44)		535		620,637
4.25%, 11/30/46 (Call 05/30/46)		135		158,262
4.75%, 03/15/42 (Call 09/15/41)		825		1,007,879
6.75%, 02/01/40 (Call 11/01/39)		565		837,978
Spirit Realty LP, 3.40%, 01/15/30 (Call 10/15/29)		250		251,678
Trust F/1401 6.39%, 01/15/50 (Call 07/15/49)^(b)		1,000		1,066,362
6.95%, 01/30/44 (Call 07/30/43)^(b)		200		231,000
UDR Inc. 3.00%, 08/15/31 (Call 05/15/31)		1,040		1,049,114
3.20%, 01/15/30 (Call 10/15/29)		250		257,937
Ventas Realty LP 4.38%, 02/01/45 (Call 08/01/44)		252		277,485
4.88%, 04/15/49 (Call 10/15/48)^(a)		653		782,356
5.70%, 09/30/43 (Call 03/30/43)		166		215,438
WEA Finance LLC, 4.63%, 09/20/48 (Call 03/20/48)^(a)(b)		100		116,870
WEA Finance LLC/Westfield UK & Europe Finance PLC, 4.75%, 09/17/44 (Call 03/17/44)^(b)		1,200		1,418,136
Welltower Inc. 3.10%, 01/15/30 (Call 10/15/29)		500		506,431
4.95%, 09/01/48 (Call 03/01/48)		485		592,729
6.50%, 03/15/41 (Call 09/15/40)		405		552,082
Weyerhaeuser Co. 6.88%, 12/15/33		1,104		1,467,738
7.38%, 03/15/32		710		992,442

				24,749,727

Retail — 2.9%
Alimentation Couche-Tard Inc., 4.50%, 07/26/47 (Call 01/26/47)^(b)		150		162,267
Darden Restaurants Inc., 4.55%, 02/15/48 (Call 08/15/47)		255		268,254
Home Depot Inc. (The) 3.50%, 09/15/56 (Call 03/15/56)		805		859,940
3.90%, 06/15/47 (Call 12/15/46)		515		594,002
4.20%, 04/01/43 (Call 10/01/42)		561		657,134
4.25%, 04/01/46 (Call 10/01/45)		1,075		1,289,403
4.40%, 03/15/45 (Call 09/15/44)		880		1,057,846
4.50%, 12/06/48 (Call 06/06/48)		1,042		1,307,107
4.88%, 02/15/44 (Call 08/15/43)^(a)		990		1,268,345
5.40%, 09/15/40 (Call 03/15/40)		171		227,481
5.88%, 12/16/36^(a)		2,413		3,354,677
5.95%, 04/01/41 (Call 10/01/40)		1,290		1,824,099
Kohl’s Corp., 5.55%, 07/17/45 (Call 01/17/45)		707		730,338
Lowe’s Companies Inc. 3.70%, 04/15/46 (Call 10/15/45)		775		784,465
4.05%, 05/03/47 (Call 11/03/46)		1,297		1,383,618
4.25%, 09/15/44 (Call 03/15/44)		645		703,585
4.38%, 09/15/45 (Call 03/15/45)		1,285		1,408,686
4.55%, 04/05/49 (Call 10/05/48)^(a)		690		791,799


Security	Par (000)		Value

Retail (continued)
4.65%, 04/15/42 (Call 10/15/41)	$	876	$	1,002,273
5.00%, 09/15/43 (Call 03/15/43)		30		34,887
Macy’s Retail Holdings Inc. 4.30%, 02/15/43 (Call 08/15/42)		340		280,737
4.50%, 12/15/34 (Call 06/15/34)		222		208,631
5.13%, 01/15/42 (Call 07/15/41)		105		97,065
Marks & Spencer PLC, 7.13%, 12/01/37^(b)		100		113,894
McDonald’s Corp. 3.63%, 05/01/43		686		706,920
3.63%, 09/01/49 (Call 03/01/49)		475		481,214
3.70%, 02/15/42		725		747,071
4.45%, 03/01/47 (Call 09/01/46)		335		385,245
4.45%, 09/01/48 (Call 03/01/48)		655		757,389
4.60%, 05/26/45 (Call 11/26/44)		915		1,066,420
4.70%, 12/09/35 (Call 06/09/35)		968		1,155,735
4.88%, 07/15/40		121		144,879
4.88%, 12/09/45 (Call 06/09/45)		1,080		1,307,557
5.70%, 02/01/39		255		330,555
6.30%, 10/15/37		583		797,508
6.30%, 03/01/38		439		600,600
Nordstrom Inc., 5.00%, 01/15/44 (Call 07/15/43)^(a)		665		640,366
Starbucks Corp. 3.75%, 12/01/47 (Call 06/01/47)		515		537,320
4.30%, 06/15/45 (Call 12/15/44)^(a)		465		523,611
4.45%, 08/15/49 (Call 02/15/49)		435		502,903
4.50%, 11/15/48 (Call 05/15/48)		775		898,904
Target Corp. 3.63%, 04/15/46^(a)		1,385		1,522,979
3.90%, 11/15/47 (Call 05/15/47)^(a)		644		737,566
4.00%, 07/01/42^(a)		1,188		1,377,213
Tiffany & Co., 4.90%, 10/01/44 (Call 04/01/44)^(a)		255		289,892
Walgreen Co., 4.40%, 09/15/42		520		531,989
Walgreens Boots Alliance Inc. 4.50%, 11/18/34 (Call 05/18/34)		898		966,118
4.65%, 06/01/46 (Call 12/01/45)^(a)		285		302,265
4.80%, 11/18/44 (Call 05/18/44)^(a)		835		891,197
Walmart Inc. 2.95%, 09/24/49 (Call 03/24/49)		300		297,647
3.63%, 12/15/47 (Call 06/15/47)		1,350		1,502,450
3.95%, 06/28/38 (Call 12/28/37)		3,193		3,729,316
4.00%, 04/11/43 (Call 10/11/42)		660		772,630
4.05%, 06/29/48 (Call 12/29/47)		2,205		2,632,486
4.30%, 04/22/44 (Call 10/22/43)		275		338,380
4.75%, 10/02/43 (Call 04/02/43)		360		463,997
5.00%, 10/25/40		430		566,646
5.25%, 09/01/35		1,345		1,773,294
5.63%, 04/01/40		315		445,382
5.63%, 04/15/41		653		926,819
6.20%, 04/15/38		480		712,204
6.50%, 08/15/37		150		227,070

				53,002,270

Semiconductors — 1.0%
Analog Devices Inc. 4.50%, 12/05/36 (Call 06/05/36)		330		362,770
5.30%, 12/15/45 (Call 06/15/45)		210		264,335
Applied Materials Inc. 4.35%, 04/01/47 (Call 10/01/46)^(a)		720		876,563
5.10%, 10/01/35 (Call 04/01/35)		435		549,610
5.85%, 06/15/41^(a)		650		888,070


Security	Par (000)		Value

Semiconductors (continued)
Intel Corp. 3.73%, 12/08/47 (Call 06/08/47)^(a)	$	1,269	$	1,429,354
4.00%, 12/15/32		1,715		1,997,242
4.10%, 05/19/46 (Call 11/19/45)		1,595		1,858,506
4.10%, 05/11/47 (Call 11/11/46)		720		841,592
4.25%, 12/15/42^(a)		300		357,868
4.80%, 10/01/41^(a)		435		549,043
4.90%, 07/29/45 (Call 01/29/45)^(a)		175		227,367
KLA Corp. 5.00%, 03/15/49 (Call 09/15/48)		305		365,785
5.65%, 11/01/34 (Call 07/01/34)		225		268,165
Lam Research Corp., 4.88%, 03/15/49 (Call 09/15/48)		500		615,908
Micron Technology Inc., 4.66%, 02/15/30 (Call 11/15/29)		310		325,604
QUALCOMM Inc. 4.30%, 05/20/47 (Call 11/20/46)		976		1,096,573
4.65%, 05/20/35 (Call 11/20/34)		1,264		1,482,081
4.80%, 05/20/45 (Call 11/20/44)^(a)		1,135		1,350,331
Texas Instruments Inc., 4.15%, 05/15/48 (Call 11/15/47)		1,485		1,799,824

				17,506,591

Software — 2.8%
Activision Blizzard Inc., 4.50%, 06/15/47 (Call 12/15/46)		525		595,463
Fidelity National Information Services Inc. 4.50%, 08/15/46 (Call 02/15/46)		650		740,545
Series 30Y, 4.75%, 05/15/48 (Call 11/15/47)		265		317,271
Fiserv Inc., 4.40%, 07/01/49 (Call 01/01/49)		1,765		1,976,690
Microsoft Corp. 3.45%, 08/08/36 (Call 02/08/36)		2,335		2,562,940
3.50%, 02/12/35 (Call 08/12/34)		1,395		1,529,559
3.50%, 11/15/42		715		781,815
3.70%, 08/08/46 (Call 02/08/46)		2,635		2,998,514
3.75%, 05/01/43 (Call 11/01/42)		375		425,978
3.75%, 02/12/45 (Call 08/12/44)		1,390		1,581,126
3.95%, 08/08/56 (Call 02/08/56)		1,355		1,603,913
4.00%, 02/12/55 (Call 08/12/54)		1,450		1,733,285
4.10%, 02/06/37 (Call 08/06/36)		2,230		2,640,464
4.20%, 11/03/35 (Call 05/03/35)		1,670		1,982,559
4.25%, 02/06/47 (Call 08/06/46)		1,225		1,521,284
4.45%, 11/03/45 (Call 05/03/45)		2,135		2,711,523
4.50%, 10/01/40		690		863,700
4.50%, 02/06/57 (Call 08/06/56)		1,600		2,079,062
4.75%, 11/03/55 (Call 05/03/55)		455		611,165
4.88%, 12/15/43 (Call 06/15/43)		560		740,386
5.20%, 06/01/39		807		1,085,508
5.30%, 02/08/41		1,000		1,367,546
Oracle Corp. 3.25%, 05/15/30 (Call 02/15/30)		950		1,011,883
3.80%, 11/15/37 (Call 05/15/37)		1,290		1,419,546
3.85%, 07/15/36 (Call 01/15/36)		1,110		1,227,010
3.90%, 05/15/35 (Call 11/15/34)		760		848,111
4.00%, 07/15/46 (Call 01/15/46)		1,640		1,824,091
4.00%, 11/15/47 (Call 05/15/47)		1,720		1,927,941
4.13%, 05/15/45 (Call 11/15/44)		1,975		2,225,364
4.30%, 07/08/34 (Call 01/08/34)		1,990		2,332,059
4.38%, 05/15/55 (Call 11/15/54)		934		1,112,818
4.50%, 07/08/44 (Call 01/08/44)		570		677,758
5.38%, 07/15/40		1,455		1,891,296
6.13%, 07/08/39		1,165		1,640,713
6.50%, 04/15/38		741		1,070,287

				51,659,173


Security	Par (000)		Value

Telecommunications — 7.6%
America Movil SAB de CV 4.38%, 07/16/42^(a)	$	453	$	513,164
4.38%, 04/22/49 (Call 10/22/48)^(a)		1,250		1,443,472
6.13%, 11/15/37		125		167,579
6.13%, 03/30/40		1,126		1,527,489
6.38%, 03/01/35^(a)		400		540,125
AT&T Inc. 4.30%, 02/15/30 (Call 11/15/29)		2,510		2,760,624
4.30%, 12/15/42 (Call 06/15/42)		1,185		1,254,304
4.35%, 06/15/45 (Call 12/15/44)		2,245		2,377,881
4.50%, 05/15/35 (Call 11/15/34)		2,095		2,311,087
4.50%, 03/09/48 (Call 09/09/47)		3,055		3,267,300
4.55%, 03/09/49 (Call 09/09/48)		1,745		1,877,591
4.65%, 06/01/44 (Call 12/01/43)		370		402,469
4.75%, 05/15/46 (Call 11/15/45)		2,685		2,980,994
4.80%, 06/15/44 (Call 12/15/43)		2,250		2,505,582
4.85%, 03/01/39 (Call 09/01/38)		1,480		1,677,564
4.85%, 07/15/45 (Call 01/15/45)		763		864,114
4.90%, 08/15/37 (Call 02/14/37)		990		1,129,182
4.90%, 06/15/42		475		536,526
5.15%, 03/15/42		1,115		1,295,384
5.15%, 11/15/46 (Call 05/15/46)		1,335		1,552,474
5.15%, 02/15/50 (Call 08/14/49)^(a)		2,154		2,522,560
5.25%, 03/01/37 (Call 09/01/36)		1,770		2,083,230
5.30%, 08/15/58 (Call 02/14/58)^(a)		865		1,030,990
5.35%, 09/01/40		1,535		1,818,243
5.35%, 12/15/43		225		268,923
5.38%, 10/15/41		340		399,018
5.45%, 03/01/47 (Call 09/01/46)^(a)		1,740		2,102,481
5.55%, 08/15/41		346		417,018
5.65%, 02/15/47 (Call 08/15/46)		1,005		1,243,991
5.70%, 03/01/57 (Call 09/01/56)		679		852,226
6.00%, 08/15/40 (Call 05/15/40)^(a)		870		1,089,498
6.10%, 07/15/40		100		126,415
6.15%, 09/15/34		50		63,601
6.20%, 03/15/40		100		126,667
6.25%, 03/29/41^(a)		250		321,522
6.30%, 01/15/38		25		32,484
6.35%, 03/15/40		255		331,033
6.38%, 03/01/41		945		1,234,466
6.45%, 06/15/34		25		31,382
6.55%, 02/15/39		350		462,580
AT&T Mobility LLC, 7.13%, 12/15/31		60		80,837
Bell Canada Inc. 4.30%, 07/29/49 (Call 01/29/49)^(a)		735		838,907
4.46%, 04/01/48 (Call 10/01/47)		1,309		1,516,272
British Telecommunications PLC, 9.63%, 12/15/30		2,302		3,532,290
Cisco Systems Inc. 5.50%, 01/15/40		1,345		1,850,199
5.90%, 02/15/39		1,895		2,683,031
Corning Inc. 4.38%, 11/15/57 (Call 05/15/57)		930		984,527
4.70%, 03/15/37 (Call 09/15/36)		165		184,237
4.75%, 03/15/42		735		842,590
5.35%, 11/15/48 (Call 05/15/48)^(a)		440		573,913
5.75%, 08/15/40		250		310,512
5.85%, 11/15/68 (Call 05/15/68)		50		61,243
7.25%, 08/15/36 (Call 08/15/26)		90		110,388
Deutsche Telekom International Finance BV 4.75%, 06/21/38 (Call 12/21/37)^(a)(b)		650		743,291


Security	Par (000)		Value

Telecommunications (continued)
4.88%, 03/06/42^(a)(b)	$	345	$	402,302
8.75%, 06/15/30		3,410		5,040,167
9.25%, 06/01/32		529		836,049
Juniper Networks Inc., 5.95%, 03/15/41		390		444,125
Koninklijke KPN NV, 8.38%, 10/01/30		501		677,964
Motorola Solutions Inc., 5.50%, 09/01/44		520		558,143
Ooredoo International Finance Ltd., 4.50%, 01/31/43^(a)(b)		410		469,066
Orange SA 5.38%, 01/13/42^(a)		555		710,370
5.50%, 02/06/44 (Call 08/06/43)		485		641,343
9.00%, 03/01/31		2,017		3,148,101
Rogers Communications Inc. 3.70%, 11/15/49 (Call 05/15/49)		40		40,853
4.30%, 02/15/48 (Call 08/15/47)^(a)		795		888,338
4.35%, 05/01/49 (Call 11/01/48)		710		799,394
4.50%, 03/15/43 (Call 09/15/42)		595		678,734
5.00%, 03/15/44 (Call 09/15/43)		1,055		1,297,933
5.45%, 10/01/43 (Call 04/01/43)		976		1,238,492
7.50%, 08/15/38		240		359,530
SES Global Americas Holdings GP, 5.30%, 03/25/44^(b)		805		856,136
Telefonica Emisiones SA 4.67%, 03/06/38		545		595,943
4.90%, 03/06/48		1,110		1,242,399
5.21%, 03/08/47		2,555		2,971,329
5.52%, 03/01/49 (Call 09/01/48)^(a)		505		614,660
7.05%, 06/20/36		1,710		2,371,415
Telefonica Europe BV, 8.25%, 09/15/30		915		1,323,577
TELUS Corp. 4.30%, 06/15/49 (Call 12/15/48)^(a)		765		868,289
4.60%, 11/16/48 (Call 05/16/48)		540		638,404
Verizon Communications Inc. 3.85%, 11/01/42 (Call 05/01/42)		1,080		1,158,234
4.02%, 12/03/29 (Call 09/03/29)		2,350		2,630,336
4.13%, 08/15/46		1,175		1,322,197
4.27%, 01/15/36		2,880		3,259,004
4.40%, 11/01/34 (Call 05/01/34)		1,790		2,066,383
4.50%, 08/10/33		2,870		3,350,636
4.52%, 09/15/48		3,370		4,009,008
4.67%, 03/15/55		1,602		1,968,031
4.75%, 11/01/41		1,333		1,604,617
4.81%, 03/15/39		1,125		1,368,065
4.86%, 08/21/46		2,527		3,132,374
5.01%, 04/15/49		2,350		3,034,387
5.01%, 08/21/54		640		828,694
5.25%, 03/16/37		2,330		2,934,817
5.50%, 03/16/47		1,565		2,132,332
5.85%, 09/15/35		150		199,504
6.40%, 09/15/33		670		909,294
6.40%, 02/15/38		50		69,092
6.55%, 09/15/43		1,120		1,668,172
7.75%, 12/01/30		125		181,127
Vodafone Group PLC 4.25%, 09/17/50		1,200		1,230,614
4.38%, 02/19/43		1,115		1,164,960
4.88%, 06/19/49		525		590,134
5.00%, 05/30/38		1,580		1,807,985
5.13%, 06/19/59		75		86,200
5.25%, 05/30/48		2,179		2,538,485
6.15%, 02/27/37		1,600		2,042,361
6.25%, 11/30/32		535		674,881


Security	Par (000)		Value

Telecommunications (continued)
7.88%, 02/15/30	$	575	$	799,804

				140,330,254

Toys, Games & Hobbies — 0.1%
Hasbro Inc.
5.10%, 05/15/44 (Call 11/15/43)^(a)		815		840,335
6.35%, 03/15/40^(a)		285		336,726

				1,177,061

Transportation — 3.3%
Burlington Northern Santa Fe LLC
3.90%, 08/01/46 (Call 02/01/46)		625		693,727
4.05%, 06/15/48 (Call 12/15/47)		535		612,398
4.13%, 06/15/47 (Call 12/15/46)		174		201,613
4.15%, 04/01/45 (Call 10/01/44)		1,535		1,760,887
4.15%, 12/15/48 (Call 06/15/48)		525		612,173
4.38%, 09/01/42 (Call 03/01/42)		525		607,894
4.40%, 03/15/42 (Call 09/15/41)		615		713,272
4.45%, 03/15/43 (Call 09/15/42)		426		501,935
4.55%, 09/01/44 (Call 03/01/44)		875		1,046,806
4.70%, 09/01/45 (Call 03/01/45)		685		839,807
4.90%, 04/01/44 (Call 10/01/43)		520		651,501
4.95%, 09/15/41 (Call 03/15/41)		434		539,201
5.05%, 03/01/41 (Call 09/01/40)		81		101,342
5.15%, 09/01/43 (Call 03/01/43)		580		743,568
5.40%, 06/01/41 (Call 12/01/40)		635		823,754
5.75%, 05/01/40 (Call 11/01/39)		670		906,565
6.15%, 05/01/37		475		666,696
6.20%, 08/15/36		200		277,618
7.95%, 08/15/30		83		120,306
Canadian National Railway Co.
3.20%, 08/02/46 (Call 02/02/46)		300		314,036
3.65%, 02/03/48 (Call 08/03/47)		1,345		1,494,604
4.45%, 01/20/49 (Call 07/20/48)		270		340,358
4.50%, 11/07/43 (Call 05/07/43)		50		60,144
6.20%, 06/01/36		475		672,507
6.25%, 08/01/34		186		259,504
6.38%, 11/15/37		275		400,149
6.71%, 07/15/36		425		624,053
Canadian Pacific Railway Co.
4.80%, 09/15/35 (Call 03/15/35)		517		621,967
4.80%, 08/01/45 (Call 02/01/45)		420		532,201
5.95%, 05/15/37		16		21,601
6.13%, 09/15/2115 (Call 03/15/2115)		798		1,173,720
7.13%, 10/15/31		780		1,101,344
CSX Corp.
2.40%, 02/15/30 (Call 11/15/29)		250		245,186
3.35%, 09/15/49 (Call 03/15/49)		765		756,145
3.80%, 11/01/46 (Call 05/01/46)		578		607,220
3.95%, 05/01/50 (Call 11/01/49)		210		226,521
4.10%, 03/15/44 (Call 09/15/43)		425		466,337
4.25%, 11/01/66 (Call 05/01/66)		546		587,433
4.30%, 03/01/48 (Call 09/01/47)		771		869,695
4.40%, 03/01/43 (Call 09/01/42)		350		392,864
4.50%, 03/15/49 (Call 09/15/48)		525		618,809
4.50%, 08/01/54 (Call 02/01/54)		200		232,797
4.65%, 03/01/68 (Call 09/01/67)		135		156,315
4.75%, 05/30/42 (Call 11/30/41)^(a)		586		686,662
5.50%, 04/15/41 (Call 10/15/40)		230		288,004
6.00%, 10/01/36		345		444,631
6.15%, 05/01/37		533		704,674


Security	Par (000)		Value

Transportation (continued)
6.22%, 04/30/40	$	835	$	1,134,859
Empresa de Transporte de Pasajeros Metro SA, 5.00%, 01/25/47 (Call 07/25/46)		400		467,880
FedEx Corp.
3.88%, 08/01/42^(a)		260		253,677
3.90%, 02/01/35		745		762,458
4.05%, 02/15/48 (Call 08/15/47)		970		957,918
4.10%, 04/15/43		652		652,840
4.10%, 02/01/45		590		583,760
4.40%, 01/15/47 (Call 07/15/46)		540		552,477
4.55%, 04/01/46 (Call 10/01/45)		1,150		1,205,306
4.75%, 11/15/45 (Call 05/15/45)		875		943,444
4.90%, 01/15/34		455		526,369
4.95%, 10/17/48 (Call 04/17/48)		481		537,012
5.10%, 01/15/44		1,085		1,220,070
Kansas City Southern
4.30%, 05/15/43 (Call 11/15/42)		140		153,975
4.95%, 08/15/45 (Call 02/15/45)		270		327,324
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34		220		258,014
Norfolk Southern Corp.
3.40%, 11/01/49 (Call 05/01/49)		170		170,230
3.94%, 11/01/47 (Call 05/01/47)		565		620,316
3.95%, 10/01/42 (Call 04/01/42)		170		183,638
4.05%, 08/15/52 (Call 02/15/52)		1,220		1,354,404
4.10%, 05/15/49 (Call 11/15/48)		345		390,477
4.15%, 02/28/48 (Call 08/28/47)		1,110		1,255,528
4.45%, 06/15/45 (Call 12/15/44)		310		360,625
4.65%, 01/15/46 (Call 07/15/45)		380		455,222
4.84%, 10/01/41		845		1,012,967
5.10%, 08/01/2118 (Call 02/01/2118)		125		150,347
Pelabuhan Indonesia II PT, 5.38%, 05/05/45		200		228,250
Polar Tankers Inc., 5.95%, 05/10/37^(b)		30		37,348
TTX Co.
4.20%, 07/01/46 (Call 01/01/46)		250		281,028
4.60%, 02/01/49 (Call 08/01/48)^(b)		250		305,594
Union Pacific Corp.
3.35%, 08/15/46 (Call 02/15/46)		150		147,818
3.38%, 02/01/35 (Call 08/01/34)		550		568,478
3.55%, 08/15/39 (Call 02/15/39)		185		195,437
3.60%, 09/15/37 (Call 03/15/37)		455		475,203
3.80%, 10/01/51 (Call 04/01/51)		1,115		1,190,789
3.88%, 02/01/55 (Call 08/01/54)		375		395,092
4.00%, 04/15/47 (Call 10/15/46)		150		165,031
4.05%, 11/15/45 (Call 05/15/45)		500		545,916
4.05%, 03/01/46 (Call 09/01/45)		695		764,676
4.10%, 09/15/67 (Call 03/15/67)		445		461,803
4.15%, 01/15/45 (Call 07/15/44)		405		448,216
4.25%, 04/15/43 (Call 10/15/42)		331		373,148
4.30%, 06/15/42 (Call 12/15/41)^(a)		150		167,904
4.30%, 03/01/49 (Call 09/01/48)^(a)		983		1,142,867
4.38%, 09/10/38 (Call 03/10/38)		1,066		1,230,673
4.38%, 11/15/65 (Call 05/15/65)		591		640,519
4.50%, 09/10/48 (Call 03/10/48)		1,025		1,237,603
4.75%, 09/15/41 (Call 03/15/41)		193		232,507
4.75%, 12/15/43 (Call 06/15/43)		175		213,649
4.80%, 09/10/58 (Call 03/10/58)		395		487,996
4.82%, 02/01/44 (Call 08/01/43)^(a)		235		290,203
United Parcel Service Inc.
3.40%, 11/15/46 (Call 05/15/46)		110		112,951
3.40%, 09/01/49 (Call 03/01/49)^(a)		590		602,025


Security	Par (000)		Value

Transportation (continued)
3.63%, 10/01/42	$	445	$	473,005
3.75%, 11/15/47 (Call 05/15/47)		495		533,862
4.25%, 03/15/49 (Call 09/15/48)		1,125		1,308,979
4.88%, 11/15/40 (Call 05/15/40)		430		531,429
6.20%, 01/15/38		945		1,327,255
United Parcel Service of America Inc., 8.38%, 04/01/30^(f)		30		42,845

				60,971,780

Trucking & Leasing — 0.0%
GATX Corp.
4.50%, 03/30/45 (Call 09/30/44)^(a)		150		158,002
5.20%, 03/15/44 (Call 09/15/43)^(a)		185		216,601

				374,603

Unknown BI — 0.0%
Target Corp., 6.35%, 11/01/32^(a)		135		191,028
Votorantim Cimentos SA, 7.25%, 04/05/41		500		633,437

				824,465

Water — 0.2%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		1,220		1,312,991
4.00%, 12/01/46 (Call 06/01/46)		145		161,464
4.15%, 06/01/49 (Call 12/01/48)		265		307,810
4.20%, 09/01/48 (Call 03/01/48)^(a)		490		567,623
4.30%, 12/01/42 (Call 06/01/42)		76		86,789
4.30%, 09/01/45 (Call 03/01/45)		920		1,071,637
6.59%, 10/15/37		395		558,672
Aqua America Inc., 4.28%, 05/01/49 (Call 11/01/48)		210		238,134
Veolia Environnement SA, 6.75%, 06/01/38		179		247,499

				4,552,619


Total Corporate Bonds & Notes — 97.1% (Cost: $1,678,991,357)				1,791,497,233


Security	Shares (000)		Value

Short-Term Investments

Money Market Funds — 8.1%
BlackRock Cash Funds: Institutional, SL Agency Shares,
2.00%^(g)(h)(i)		108,324	$	108,378,576
BlackRock Cash Funds: Treasury, SL Agency Shares,
1.74%^(g)(h)		40,445		40,445,000

				148,823,576


Total Short-Term Investments — 8.1% (Cost: $148,799,621)				148,823,576


Total Investments in Securities — 105.2% (Cost: $1,827,790,978)				1,940,320,809

Other Assets, Less Liabilities — (5.2)%				(95,127,922	)


Net Assets — 100.0%			$	1,845,192,887

^(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)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

^(f)	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.

^(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.


Security	Par (000)		Value

Corporate Bonds & Notes

Advertising — 0.0%
WPP Finance 2010, 5.63%, 11/15/43	$	310	$	288,845


Aerospace & Defense — 1.9%
BAE Systems Holdings Inc., 4.75%, 10/07/44^(a)		350		356,367
Boeing Co. (The) 3.38%, 06/15/46 (Call 12/15/45)		135		121,873
3.50%, 03/01/39 (Call 09/01/38)		280		264,147
3.55%, 03/01/38 (Call 09/01/37)		180		172,150
3.65%, 03/01/47 (Call 09/01/46)		150		141,679
3.85%, 11/01/48 (Call 05/01/48)		75		73,361
5.88%, 02/15/40		150		187,051
6.63%, 02/15/38		66		86,808
6.88%, 03/15/39		252		341,345
General Dynamics Corp., 3.60%, 11/15/42 (Call 05/14/42)^(b)		200		193,042
Harris Corp. 4.85%, 04/27/35 (Call 10/27/34)		175		180,589
5.05%, 04/27/45 (Call 10/27/44)		200		212,628
6.15%, 12/15/40		100		118,402
Lockheed Martin Corp. 3.60%, 03/01/35 (Call 09/01/34)		150		142,528
3.80%, 03/01/45 (Call 09/01/44)		540		505,413
4.07%, 12/15/42		140		136,830
4.09%, 09/15/52 (Call 03/15/52)		545		526,691
4.50%, 05/15/36 (Call 11/15/35)		370		388,616
4.70%, 05/15/46 (Call 11/15/45)		385		412,440
Series B, 6.15%, 09/01/36		150		183,279
Northrop Grumman Corp. 3.85%, 04/15/45 (Call 10/15/44)		95		87,213
4.03%, 10/15/47 (Call 04/15/47)		750		701,889
4.75%, 06/01/43		200		209,527
5.05%, 11/15/40		200		216,162
Northrop Grumman Systems Corp., 7.75%, 02/15/31		250		336,140
Raytheon Co. 4.20%, 12/15/44 (Call 06/15/44)		100		103,428
4.70%, 12/15/41^(b)		150		165,551
4.88%, 10/15/40		212		238,664
Rockwell Collins Inc. 4.35%, 04/15/47 (Call 10/15/46)		455		429,111
4.80%, 12/15/43 (Call 06/15/43)		150		150,817
United Technologies Corp. 3.75%, 11/01/46 (Call 05/01/46)		320		281,044
4.05%, 05/04/47 (Call 11/04/46)		200		183,902
4.15%, 05/15/45 (Call 11/16/44)		425		397,176
4.50%, 06/01/42		1,100		1,087,108
4.63%, 11/16/48 (Call 05/16/48)		600		604,442
5.40%, 05/01/35^(b)		121		131,894
5.70%, 04/15/40		280		315,662
6.05%, 06/01/36		150		172,698
6.13%, 07/15/38		290		340,838
7.50%, 09/15/29		330		422,385

				11,320,890

Agriculture — 1.3%
Altria Group Inc. 3.88%, 09/16/46 (Call 03/16/46)^(b)		460		347,554
4.25%, 08/09/42		470		379,016
4.50%, 05/02/43		285		235,888
5.38%, 01/31/44^(b)		410		381,713
5.80%, 02/14/39 (Call 08/14/38)		150		149,341


Security	Par (000)		Value

Agriculture (continued)
5.95%, 02/14/49 (Call 08/14/48)	$	500	$	499,450
6.20%, 02/14/59 (Call 08/14/58)		500		500,746
Archer-Daniels-Midland Co. 4.02%, 04/16/43		399		390,155
4.50%, 03/15/49 (Call 09/15/48)^(b)		250		263,484
4.54%, 03/26/42		378		395,200
BAT Capital Corp. 4.39%, 08/15/37 (Call 02/15/37)		725		600,851
4.54%, 08/15/47 (Call 02/15/47)		775		625,624
Philip Morris International Inc. 3.88%, 08/21/42		225		195,712
4.13%, 03/04/43		275		246,636
4.25%, 11/10/44^(b)		275		251,938
4.38%, 11/15/41		100		92,617
4.50%, 03/20/42		130		122,552
4.88%, 11/15/43		215		212,261
6.38%, 05/16/38		525		616,831
Reynolds American Inc. 5.70%, 08/15/35 (Call 02/15/35)		250		246,502
5.85%, 08/15/45 (Call 02/12/45)^(b)		770		733,570
6.15%, 09/15/43		150		147,743
7.25%, 06/15/37		103		112,570

				7,747,954

Apparel — 0.1%
NIKE Inc. 3.38%, 11/01/46 (Call 05/01/46)		200		181,312
3.63%, 05/01/43 (Call 11/01/42)		250		238,159
3.88%, 11/01/45 (Call 05/01/45)		245		241,895
VF Corp., 6.45%, 11/01/37		125		147,988

				809,354

Auto Manufacturers — 0.8%
Daimler Finance North America LLC, 8.50%, 01/18/31		530		722,825
Ford Holdings LLC, 9.30%, 03/01/30^(b)		75		85,593
Ford Motor Co. 4.75%, 01/15/43		605		463,062
5.29%, 12/08/46 (Call 06/08/46)		435		351,039
7.40%, 11/01/46		169		169,402
7.45%, 07/16/31^(b)		485		511,690
General Motors Co. 5.00%, 04/01/35		255		228,098
5.15%, 04/01/38 (Call 10/01/37)		325		291,875
5.20%, 04/01/45		445		387,718
5.40%, 04/01/48 (Call 10/01/47)		100		89,484
6.25%, 10/02/43		450		444,815
6.60%, 04/01/36 (Call 10/01/35)		425		439,395
6.75%, 04/01/46 (Call 10/01/45)		395		406,551

				4,591,547

Auto Parts & Equipment — 0.0%
Aptiv PLC, 4.40%, 10/01/46 (Call 04/01/46)^(b)		100		86,101
BorgWarner Inc., 4.38%, 03/15/45 (Call 09/15/44)		185		167,087

				253,188

Banks — 7.7%
Bank of America Corp. 3.95%, 01/23/49 (Call 01/23/48)^(b)(c)(d)		725		681,560
4.24%, 04/24/38 (Call 04/24/37)^(c)(d)		550		546,797
4.44%, 01/20/48 (Call 01/20/47)^(b)(c)(d)		590		599,652
4.88%, 04/01/44		100		107,771
5.00%, 01/21/44		395		431,637
5.88%, 02/07/42		450		547,260


Security	Par (000)		Value

Banks (continued)
6.11%, 01/29/37	$	700	$	808,191
7.75%, 05/14/38		650		876,167
Series L, 4.75%, 04/21/45		58		59,088
Bank of America N.A., 6.00%, 10/15/36		400		479,012
Bank of New York Mellon Corp. (The), 3.30%, 08/23/29 (Call 05/23/29)		550		535,143
Barclays PLC 4.95%, 01/10/47^(b)		535		512,149
5.25%, 08/17/45		300		297,354
BNP Paribas SA, 7.20%, (Call 06/25/37)^{(a)(b)(c)(d)(e)}		200		213,250
Citigroup Inc. 3.88%, 01/24/39 (Call 01/22/38)^(c)(d)		295		278,962
4.28%, 04/24/48 (Call 10/24/47)^(c)(d)		390		388,135
4.65%, 07/30/45		475		493,626
4.65%, 07/23/48 (Call 06/23/48)		340		354,652
4.75%, 05/18/46		325		318,899
5.30%, 05/06/44		355		376,076
5.88%, 02/22/33		75		83,845
5.88%, 01/30/42		400		474,228
6.00%, 10/31/33		50		56,694
6.13%, 08/25/36		282		320,802
6.63%, 06/15/32		500		593,004
6.68%, 09/13/43		440		542,888
8.13%, 07/15/39		680		986,812
Commonwealth Bank of Australia, 4.32%, 01/10/48^(a)		550		501,395
Cooperatieve Rabobank UA 5.25%, 05/24/41^(b)		620		714,292
5.25%, 08/04/45		361		389,325
5.75%, 12/01/43		425		487,322
Credit Suisse Group Funding Guernsey Ltd., 4.88%, 05/15/45		711		731,084
Fifth Third Bancorp., 8.25%, 03/01/38		380		523,363
First Republic Bank/CA, 4.38%, 08/01/46 (Call 02/01/46)		250		232,074
Goldman Sachs Group Inc. (The) 4.02%, 10/31/38 (Call 10/31/37)^(c)(d)		575		530,972
4.41%, 04/23/39 (Call 04/23/38)^(c)(d)		610		590,019
4.75%, 10/21/45 (Call 04/21/45)		600		607,435
4.80%, 07/08/44 (Call 01/08/44)		610		619,246
5.15%, 05/22/45		585		588,875
6.25%, 02/01/41		725		872,929
6.45%, 05/01/36		25		29,013
6.75%, 10/01/37		2,010		2,389,601
HSBC Bank USA N.A., 7.00%, 01/15/39		250		322,969
HSBC Bank USA N.A./New York NY, 5.63%, 08/15/35		385		433,964
HSBC Holdings PLC 5.25%, 03/14/44		350		369,415
6.10%, 01/14/42		225		276,820
6.50%, 05/02/36		750		890,022
6.50%, 09/15/37		825		985,420
6.80%, 06/01/38		700		864,719
7.63%, 05/17/32		300		385,517
JPMorgan Chase & Co. 3.88%, 07/24/38 (Call 07/24/37)^(c)(d)		910		862,842
3.90%, 01/23/49 (Call 01/23/48)^(c)(d)		630		586,181
4.03%, 07/24/48 (Call 07/24/47)^(c)(d)		500		476,443
4.26%, 02/22/48 (Call 02/22/47)^(c)(d)		500		492,693
4.85%, 02/01/44		250		266,039
4.95%, 06/01/45		560		593,900
5.40%, 01/06/42		500		568,562
5.50%, 10/15/40		635		731,669


Security	Par (000)		Value

Banks (continued)
5.60%, 07/15/41	$	360	$	420,922
5.63%, 08/16/43^(b)		535		613,068
6.40%, 05/15/38		795		998,718
Lloyds Banking Group PLC 4.34%, 01/09/48		540		462,304
5.30%, 12/01/45^(b)		200		199,121
Mitsubishi UFJ Financial Group Inc. 4.15%, 03/07/39		250		249,798
4.29%, 07/26/38		125		128,035
Morgan Stanley 4.30%, 01/27/45^(b)		800		785,347
4.38%, 01/22/47		975		968,832
4.46%, 04/22/39 (Call 04/22/38)^(c)(d)		500		501,385
6.38%, 07/24/42		550		690,909
7.25%, 04/01/32		250		324,257
Regions Financial Corp., 7.38%, 12/10/37		235		303,187
Santander UK Group Holdings PLC, 5.63%, 09/15/45^(a)		200		197,267
Standard Chartered PLC 5.30%, 01/09/43^(a)		200		202,689
5.70%, 03/26/44^(a)(b)		700		749,181
UBS AG/London, 4.50%, 06/26/48^(a)		200		216,079
Wachovia Corp. 5.50%, 08/01/35		560		618,601
6.55%, 10/15/35		50		59,479
Wells Fargo & Co. 3.90%, 05/01/45^(b)		600		576,216
4.40%, 06/14/46		660		634,523
4.65%, 11/04/44		550		547,434
4.75%, 12/07/46		835		842,623
4.90%, 11/17/45		625		641,170
5.38%, 02/07/35		260		295,518
5.38%, 11/02/43		635		691,241
5.61%, 01/15/44		785		884,215
Wells Fargo Bank N.A., 6.60%, 01/15/38		250		316,026
Wells Fargo Capital X, 5.95%, 12/01/86		200		215,500

				45,211,419

Beverages — 3.0%
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc. 4.70%, 02/01/36 (Call 08/01/35)^(a)		2,000		1,930,626
4.90%, 02/01/46 (Call 08/01/45)^(a)		2,935		2,816,040
Anheuser-Busch InBev Finance Inc. 4.00%, 01/17/43		265		223,265
4.63%, 02/01/44		350		320,589
4.70%, 02/01/36 (Call 08/01/35)		25		24,133
4.90%, 02/01/46 (Call 08/01/45)		95		90,646
Anheuser-Busch InBev Worldwide Inc. 3.75%, 07/15/42		300		248,050
4.38%, 04/15/38 (Call 10/15/37)		250		229,175
4.44%, 10/06/48 (Call 04/06/48)		550		495,607
4.60%, 04/15/48 (Call 10/15/47)		835		768,994
4.75%, 04/15/58 (Call 10/15/57)^(b)		400		363,929
4.90%, 01/23/31 (Call 10/23/30)		250		261,927
4.95%, 01/15/42		500		488,014
5.55%, 01/23/49 (Call 07/23/48)		1,650		1,733,583
5.80%, 01/23/59 (Call 07/23/58)^(b)		500		533,332
8.00%, 11/15/39		150		195,894
8.20%, 01/15/39		380		510,492
Bacardi Ltd., 5.30%, 05/15/48 (Call 11/15/47)^(a)		425		384,179
Brown-Forman Corp., 4.50%, 07/15/45 (Call 01/15/45)		128		134,737


Security	Par (000)		Value

Beverages (continued)
Coca-Cola FEMSA SAB de CV, 5.25%, 11/26/43	$	306	$	333,309
Constellation Brands Inc. 4.10%, 02/15/48 (Call 08/15/47)		375		322,185
4.50%, 05/09/47 (Call 11/09/46)		50		45,680
5.25%, 11/15/48 (Call 05/15/48)^(b)		40		40,508
Diageo Capital PLC 3.88%, 04/29/43 (Call 10/29/42)		100		97,183
5.88%, 09/30/36		365		440,192
Diageo Investment Corp. 4.25%, 05/11/42		300		304,633
7.45%, 04/15/35		11		14,949
Fomento Economico Mexicano SAB de CV, 4.38%, 05/10/43		200		195,235
Keurig Dr Pepper Inc. 4.42%, 12/15/46 (Call 06/15/46)		75		64,503
4.50%, 11/15/45 (Call 08/15/45)		350		309,185
4.99%, 05/25/38 (Call 11/25/37)^(a)(b)		250		244,663
Molson Coors Brewing Co. 4.20%, 07/15/46 (Call 01/15/46)^(b)		450		382,084
5.00%, 05/01/42		400		378,475
PepsiCo Inc. 3.45%, 10/06/46 (Call 04/06/46)^(b)		590		539,569
3.60%, 08/13/42		250		234,933
4.00%, 03/05/42		182		180,610
4.00%, 05/02/47 (Call 11/02/46)^(b)		370		367,677
4.25%, 10/22/44 (Call 04/22/44)		300		309,026
4.45%, 04/14/46 (Call 10/14/45)		350		373,982
4.60%, 07/17/45 (Call 01/17/45)^(b)		250		272,000
Pernod Ricard SA, 5.50%, 01/15/42^(a)		250		269,739

				17,473,532

Biotechnology — 1.5%
Amgen Inc. 4.40%, 05/01/45 (Call 11/01/44)		965		905,923
4.56%, 06/15/48 (Call 12/15/47)		375		354,652
4.66%, 06/15/51 (Call 12/15/50)^(b)		1,160		1,110,926
4.95%, 10/01/41		170		172,995
5.15%, 11/15/41 (Call 05/15/41)		400		414,325
5.65%, 06/15/42 (Call 12/15/41)		40		43,545
5.75%, 03/15/40		115		126,770
Baxalta Inc., 5.25%, 06/23/45 (Call 12/23/44)^(b)		125		129,116
Biogen Inc., 5.20%, 09/15/45 (Call 03/15/45)		540		564,641
Celgene Corp. 4.35%, 11/15/47 (Call 05/15/47)		400		358,116
4.55%, 02/20/48 (Call 08/20/47)		390		361,032
4.63%, 05/15/44 (Call 11/15/43)		460		429,395
5.00%, 08/15/45 (Call 02/15/45)		425		419,341
5.25%, 08/15/43		370		372,868
Gilead Sciences Inc. 4.00%, 09/01/36 (Call 03/01/36)		135		125,794
4.15%, 03/01/47 (Call 09/01/46)		425		388,536
4.50%, 02/01/45 (Call 08/01/44)		600		578,763
4.60%, 09/01/35 (Call 03/01/35)		475		474,063
4.75%, 03/01/46 (Call 09/01/45)		590		591,922
4.80%, 04/01/44 (Call 10/01/43)		630		631,939
5.65%, 12/01/41 (Call 06/01/41)		350		389,897

				8,944,559

Building Materials — 0.4%
CRH America Finance Inc., 4.50%, 04/04/48 (Call 10/04/47)^(a)		400		348,526


Security	Par (000)		Value

Building Materials (continued)
Johnson Controls International PLC 4.50%, 02/15/47 (Call 08/15/46)	$	225	$	203,132
4.63%, 07/02/44 (Call 01/02/44)		185		172,786
4.95%, 07/02/64 (Call 01/02/64)^(f)		235		207,303
5.13%, 09/14/45 (Call 03/14/45)		270		268,621
6.00%, 01/15/36^(b)		100		112,145
Lafarge SA, 7.13%, 07/15/36		165		188,241
Martin Marietta Materials Inc., 4.25%, 12/15/47 (Call 06/15/47)		250		208,025
Masco Corp., 4.50%, 05/15/47 (Call 11/15/46)		100		85,974
Owens Corning 4.30%, 07/15/47 (Call 01/15/47)		335		260,445
7.00%, 12/01/36		173		187,645
Vulcan Materials Co. 4.50%, 06/15/47 (Call 12/15/46)		430		368,897
4.70%, 03/01/48 (Call 09/01/47)		25		22,253

				2,633,993

Chemicals — 1.6%
Albemarle Corp., 5.45%, 12/01/44 (Call 06/01/44)		110		110,284
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)^(a)		200		233,500
Dow Chemical Co. (The) 4.25%, 10/01/34 (Call 04/01/34)		375		348,843
4.38%, 11/15/42 (Call 05/15/42)		540		485,949
4.63%, 10/01/44 (Call 04/01/44)		235		217,149
5.25%, 11/15/41 (Call 08/15/41)		375		377,952
5.55%, 11/30/48 (Call 05/30/48)^(a)		40		42,087
7.38%, 11/01/29		210		258,975
9.40%, 05/15/39		180		263,303
DowDuPont Inc. 5.32%, 11/15/38 (Call 05/15/38)		475		502,638
5.42%, 11/15/48 (Call 05/15/48)		670		715,082
Eastman Chemical Co. 4.65%, 10/15/44 (Call 04/15/44)		320		297,870
4.80%, 09/01/42 (Call 03/01/42)		208		197,114
International Flavors & Fragrances Inc. 4.38%, 06/01/47 (Call 12/01/46)		200		183,011
5.00%, 09/26/48 (Call 03/26/48)^(b)		110		109,122
Lubrizol Corp. (The), 6.50%, 10/01/34		120		157,607
LYB International Finance BV 4.88%, 03/15/44 (Call 09/15/43)^(b)		370		347,382
5.25%, 07/15/43		240		234,851
LyondellBasell Industries NV, 4.63%, 02/26/55 (Call 08/26/54)		390		335,550
Methanex Corp., 5.65%, 12/01/44 (Call 06/01/44)		150		135,348
Mexichem SAB de CV, 5.88%, 09/17/44^(a)		200		193,430
Mosaic Co. (The) 5.45%, 11/15/33 (Call 05/15/33)		333		345,698
5.63%, 11/15/43 (Call 05/15/43)^(b)		260		264,667
Nutrien Ltd. 4.13%, 03/15/35 (Call 09/15/34)		337		303,870
4.90%, 06/01/43 (Call 12/01/42)		275		264,401
5.25%, 01/15/45 (Call 07/15/44)		4		3,980
5.63%, 12/01/40		200		208,565
5.88%, 12/01/36		101		109,651
6.13%, 01/15/41 (Call 07/15/40)		225		249,151
OCP SA, 6.88%, 04/25/44^(a)		200		218,000
Praxair Inc., 3.55%, 11/07/42 (Call 05/07/42)^(b)		300		276,840
Rohm & Haas Co., 7.85%, 07/15/29		100		125,345
RPM International Inc., 4.25%, 01/15/48 (Call 07/15/47)		150		123,808


Security	Par (000)		Value

Chemicals (continued)
Sherwin-Williams Co. (The) 4.00%, 12/15/42 (Call 06/15/42)	$	200	$	170,382
4.50%, 06/01/47 (Call 12/01/46)		494		462,242
4.55%, 08/01/45 (Call 02/01/45)		45		41,243
Syngenta Finance NV, 5.68%, 04/24/48 (Call 10/24/47)^(a)		300		267,992
Westlake Chemical Corp. 4.38%, 11/15/47 (Call 05/15/47)		265		224,120
5.00%, 08/15/46 (Call 02/15/46)		200		186,169

				9,593,171

Commercial Services — 1.3%
California Institute of Technology 4.32%, 08/01/45		12		12,563
4.70%, 11/01/11		100		105,435
Cleveland Clinic Foundation (The), 4.86%, 01/01/14		200		206,447
DP World Ltd. 5.63%, 09/25/48^(a)		200		201,500
6.85%, 07/02/37^(a)(b)		600		712,500
Ecolab Inc. 3.70%, 11/01/46 (Call 05/01/46)		50		44,877
3.95%, 12/01/47 (Call 06/01/47)		430		419,244
5.50%, 12/08/41		66		76,052
Equifax Inc., 7.00%, 07/01/37		115		125,904
ERAC USA Finance LLC, 7.00%, 10/15/37^(a)(b)		900		1,105,314
George Washington University (The) 4.87%, 09/15/45		16		17,857
Series 2018, 4.13%, 09/15/48 (Call 03/15/48)		575		577,172
Johns Hopkins University, Series 2013, 4.08%, 07/01/53		11		10,748
Massachusetts Institute of Technology 3.96%, 07/01/38		9		9,287
4.68%, 07/01/14		150		162,963
5.60%, 07/01/11^(b)		375		485,774
Moody’s Corp., 5.25%, 07/15/44		250		270,137
Northwestern University, 4.64%, 12/01/44		355		395,876
President and Fellows of Harvard College 3.15%, 07/15/46 (Call 01/15/46)		375		334,408
3.30%, 07/15/56 (Call 01/15/56)		250		220,073
Princeton University, 5.70%, 03/01/39		300		377,377
S&P Global Inc. 4.50%, 05/15/48 (Call 11/15/47)		200		204,675
6.55%, 11/15/37		161		202,876
Trustees of Dartmouth College, 3.47%, 06/01/46		100		92,063
University of Notre Dame du Lac
Series 2015, 3.44%, 02/15/45		9		8,432
Series 2017, 3.39%, 02/15/48 (Call 08/15/47)		200		186,475
University of Southern California 3.03%, 10/01/39		325		296,183
5.25%, 10/01/11		150		175,380
Verisk Analytics Inc., 5.50%, 06/15/45 (Call 12/15/44)		111		113,646
Wesleyan University, 4.78%, 07/01/16		50		49,344
William Marsh Rice University 3.57%, 05/15/45		301		287,196
3.77%, 05/15/55		125		120,093

				7,607,871

Computers — 1.6%
Apple Inc. 3.45%, 02/09/45		575		518,834
3.75%, 09/12/47 (Call 03/12/47)		395		371,854
3.75%, 11/13/47 (Call 05/13/47)		250		236,421
3.85%, 05/04/43		850		822,746


Security	Par (000)		Value

Computers (continued)
3.85%, 08/04/46 (Call 02/04/46)	$	550	$	529,427
4.25%, 02/09/47 (Call 08/09/46)^(b)		450		460,186
4.38%, 05/13/45		625		647,928
4.45%, 05/06/44		425		445,482
4.50%, 02/23/36 (Call 08/23/35)		275		295,928
4.65%, 02/23/46 (Call 08/23/45)		1,200		1,293,581
Dell International LLC/EMC Corp. 8.10%, 07/15/36 (Call 01/15/36)^(a)		450		509,098
8.35%, 07/15/46 (Call 01/15/46)^(a)		625		731,343
Hewlett Packard Enterprise Co. 6.20%, 10/15/35 (Call 04/15/35)		285		293,411
6.35%, 10/15/45 (Call 04/15/45)		475		480,991
HP Inc., 6.00%, 09/15/41^(b)		370		377,382
International Business Machines Corp. 4.00%, 06/20/42		535		509,730
4.70%, 02/19/46^(b)		200		210,414
5.60%, 11/30/39^(b)		195		225,189
5.88%, 11/29/32		291		349,259
7.13%, 12/01/96^(b)		75		92,534
Seagate HDD Cayman, 5.75%, 12/01/34 (Call 06/01/34)		165		146,385

				9,548,123

Cosmetics & Personal Care — 0.4%
Colgate-Palmolive Co. 3.70%, 08/01/47 (Call 02/01/47)		175		172,091
4.00%, 08/15/45		200		205,046
Estee Lauder Companies Inc. (The) 3.70%, 08/15/42		50		46,573
4.15%, 03/15/47 (Call 09/15/46)		125		125,399
4.38%, 06/15/45 (Call 12/15/44)		275		283,379
6.00%, 05/15/37		180		221,170
Procter & Gamble Co. (The), 3.50%, 10/25/47^(b)		425		406,384
Unilever Capital Corp., 5.90%, 11/15/32		575		705,039

				2,165,081

Distribution & Wholesale — 0.1%
WW Grainger Inc. 3.75%, 05/15/46 (Call 11/15/45)		250		223,976
4.20%, 05/15/47 (Call 11/15/46)		205		198,107
4.60%, 06/15/45 (Call 12/15/44)		170		175,117

				597,200

Diversified Financial Services — 1.8%
American Express Co., 4.05%, 12/03/42		370		364,039
Blackstone Holdings Finance Co. LLC, 4.45%, 07/15/45^(a)		400		370,128
Brookfield Finance Inc., 4.70%, 09/20/47 (Call 03/20/47)		305		278,621
Carlyle Holdings II Finance LLC, 5.63%, 03/30/43^(a)		135		129,743
CME Group Inc. 4.15%, 06/15/48 (Call 12/15/47)^(b)		180		183,313
5.30%, 09/15/43 (Call 03/15/43)		300		357,595
Credit Suisse USA Inc., 7.13%, 07/15/32		268		345,520
FMR LLC, 6.50%, 12/14/40^(a)		500		619,426
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35		3,565		3,219,125
Invesco Finance PLC, 5.38%, 11/30/43		141		145,389
Jefferies Group LLC 6.25%, 01/15/36		220		217,071
6.50%, 01/20/43		150		147,659
Jefferies Group LLC/Jefferies Group Capital Finance Inc., 4.15%, 01/23/30		250		218,432
KKR Group Finance Co. II LLC, 5.50%, 02/01/43 (Call 08/01/42)^(a)		500		511,928


Security	Par (000)		Value

Diversified Financial Services (continued)
Legg Mason Inc., 5.63%, 01/15/44	$	210	$	204,445
Mastercard Inc. 3.80%, 11/21/46 (Call 05/21/46)		150		148,107
3.95%, 02/26/48 (Call 08/26/47)		145		145,731
National Rural Utilities Cooperative Finance Corp. 4.02%, 11/01/32 (Call 05/01/32)		50		51,607
4.30%, 03/15/49 (Call 09/15/48)		300		305,782
Series C, 8.00%, 03/01/32		271		371,594
Raymond James Financial Inc., 4.95%, 07/15/46		310		310,590
Visa Inc. 3.65%, 09/15/47 (Call 03/15/47)		290		275,541
4.15%, 12/14/35 (Call 06/14/35)		585		612,296
4.30%, 12/14/45 (Call 06/14/45)		875		918,146
Western Union Co. (The) 6.20%, 11/17/36		265		268,315
6.20%, 06/21/40		90		85,603

				10,805,746

Electric — 12.0%
Abu Dhabi National Energy Co. PJSC, 4.88%, 04/23/30^(a)		800		831,000
AEP Transmission Co. LLC 3.75%, 12/01/47 (Call 06/01/47)		200		187,757
4.00%, 12/01/46 (Call 06/01/46)		150		145,135
4.25%, 09/15/48 (Call 03/15/48)		150		151,816
Alabama Power Co. 3.75%, 03/01/45 (Call 09/01/44)		150		138,557
3.85%, 12/01/42		100		93,657
4.10%, 01/15/42		10		9,563
4.15%, 08/15/44 (Call 02/15/44)		302		297,114
4.30%, 01/02/46 (Call 07/02/45)		250		252,356
6.00%, 03/01/39		270		323,804
6.13%, 05/15/38		200		241,167
Series B, 3.70%, 12/01/47 (Call 06/01/47)		25		22,967
Ameren Illinois Co. 3.70%, 12/01/47 (Call 06/01/47)		225		212,282
4.15%, 03/15/46 (Call 09/15/45)		350		351,331
4.50%, 03/15/49 (Call 09/15/48)		50		53,455
Appalachian Power Co. 4.40%, 05/15/44 (Call 11/15/43)		11		10,820
4.45%, 06/01/45 (Call 12/01/44)		150		148,833
7.00%, 04/01/38		170		214,553
Series L, 5.80%, 10/01/35		25		27,948
Arizona Public Service Co. 3.75%, 05/15/46 (Call 11/15/45)		275		250,825
4.25%, 03/01/49 (Call 09/01/48)		100		99,023
4.35%, 11/15/45 (Call 05/15/45)		45		45,156
4.50%, 04/01/42 (Call 10/01/41)		326		331,850
5.05%, 09/01/41 (Call 03/01/41)		160		172,816
Avista Corp., 4.35%, 06/01/48 (Call 12/01/47)		50		50,649
Baltimore Gas & Electric Co., 3.50%, 08/15/46 (Call 02/15/46)		285		253,999
Berkshire Hathaway Energy Co. 3.80%, 07/15/48 (Call 01/15/48)		475		433,338
4.45%, 01/15/49 (Call 07/15/48)		575		578,529
4.50%, 02/01/45 (Call 08/01/44)		200		204,438
5.15%, 11/15/43 (Call 05/15/43)		120		132,579
5.95%, 05/15/37		350		417,499
6.13%, 04/01/36		900		1,093,616
Black Hills Corp. 4.20%, 09/15/46 (Call 03/15/46)		150		137,964
4.35%, 05/01/33 (Call 02/01/33)		250		249,609


Security	Par (000)		Value

Electric (continued)
CenterPoint Energy Houston Electric LLC 3.55%, 08/01/42 (Call 02/01/42)	$	225	$	207,247
3.95%, 03/01/48 (Call 09/01/47)		50		49,064
4.25%, 02/01/49 (Call 08/01/48)		200		205,841
4.50%, 04/01/44 (Call 10/01/43)		225		237,754
Cleco Corporate Holdings LLC, 4.97%, 05/01/46 (Call 11/01/45)		150		146,719
Cleveland Electric Illuminating Co. (The) 4.55%, 11/15/30 (Call 08/15/30)^(a)		100		101,727
5.95%, 12/15/36		100		112,633
CMS Energy Corp. 4.70%, 03/31/43 (Call 09/30/42)		100		99,464
4.88%, 03/01/44 (Call 09/01/43)		150		158,355
Cometa Energia SA de CV, 6.38%, 04/24/35 (Call 01/24/35)^(a)		197		189,257
Comision Federal de Electricidad, 6.13%, 06/16/45^(a)		400		405,000
Commonwealth Edison Co. 3.65%, 06/15/46 (Call 12/15/45)		100		92,205
3.70%, 03/01/45 (Call 09/01/44)		200		186,330
3.80%, 10/01/42 (Call 04/01/42)		200		188,944
4.00%, 03/01/48 (Call 09/01/47)		450		440,895
4.00%, 03/01/49 (Call 09/01/48)		250		243,905
4.35%, 11/15/45 (Call 05/15/45)		150		154,112
4.60%, 08/15/43 (Call 02/15/43)		100		106,193
4.70%, 01/15/44 (Call 04/15/43)		235		252,787
Series 123, 3.75%, 08/15/47 (Call 02/15/47)		225		210,408
Connecticut Light & Power Co. (The) 4.00%, 04/01/48 (Call 10/01/47)^(b)		100		99,759
4.30%, 04/15/44 (Call 10/15/43)		70		72,752
Consolidated Edison Co. of New York Inc. 3.85%, 06/15/46 (Call 12/15/45)		210		195,201
3.95%, 03/01/43 (Call 09/01/42)		200		189,126
4.45%, 03/15/44 (Call 09/15/43)		315		320,327
4.50%, 12/01/45 (Call 06/01/45)		207		210,965
4.50%, 05/15/58 (Call 11/15/57)		200		196,506
4.63%, 12/01/54 (Call 06/01/54)		125		125,216
5.70%, 06/15/40		300		348,427
Series 05-A, 5.30%, 03/01/35		100		109,608
Series 06-A, 5.85%, 03/15/36		225		263,503
Series 06-B, 6.20%, 06/15/36		200		242,492
Series 06-E, 5.70%, 12/01/36		75		85,291
Series 07-A, 6.30%, 08/15/37		100		122,360
Series 08-B, 6.75%, 04/01/38		200		255,444
Series 09-C, 5.50%, 12/01/39		200		226,470
Series 12-A, 4.20%, 03/15/42		8		7,826
Series 2017, 3.88%, 06/15/47 (Call 12/15/46)		210		195,480
Series C, 4.30%, 12/01/56 (Call 06/01/56)		205		194,114
Series E, 4.65%, 12/01/48 (Call 06/01/48)		50		52,421
Consumers Energy Co. 3.25%, 08/15/46 (Call 02/15/46)		200		175,779
3.95%, 05/15/43 (Call 11/15/42)		75		74,481
3.95%, 07/15/47 (Call 01/15/47)		200		197,611
4.35%, 04/15/49 (Call 10/15/48)^(b)		120		127,082
Delmarva Power & Light Co., 4.15%, 05/15/45 (Call 11/15/44)		250		245,267
Dominion Energy Inc. 4.70%, 12/01/44 (Call 06/01/44)		75		75,991
7.00%, 06/15/38		230		286,764
Series B, 5.95%, 06/15/35		160		182,319
Series C, 4.05%, 09/15/42 (Call 03/15/42)		250		230,322


Security	Par (000)		Value

Electric (continued)
Series C, 4.90%, 08/01/41 (Call 02/01/41)	$	272	$	277,954
Series E, 6.30%, 03/15/33		175		207,883
Series F, 5.25%, 08/01/33		305		332,235
DTE Electric Co. 3.70%, 03/15/45 (Call 09/15/44)		200		188,409
3.70%, 06/01/46 (Call 12/01/45)^(b)		135		125,544
3.95%, 03/01/49 (Call 09/01/48)		435		424,807
4.30%, 07/01/44 (Call 01/01/44)		103		105,368
Series A, 4.00%, 04/01/43 (Call 10/01/42)		100		99,070
Series A, 4.05%, 05/15/48 (Call 11/15/47)		190		188,210
DTE Energy Co., 6.38%, 04/15/33		135		162,602
Duke Energy Carolinas LLC 3.70%, 12/01/47 (Call 06/01/47)		250		232,838
3.75%, 06/01/45 (Call 12/01/44)		165		155,366
3.88%, 03/15/46 (Call 09/15/45)		250		240,082
3.95%, 03/15/48 (Call 09/15/47)		285		278,004
4.00%, 09/30/42 (Call 03/30/42)		250		245,567
4.25%, 12/15/41 (Call 06/15/41)		300		305,346
5.30%, 02/15/40		260		300,813
6.00%, 01/15/38		57		69,595
6.05%, 04/15/38		300		371,241
6.10%, 06/01/37		100		122,090
6.45%, 10/15/32		101		126,187
Duke Energy Corp. 3.75%, 09/01/46 (Call 03/01/46)		320		286,687
4.80%, 12/15/45 (Call 06/15/45)		201		207,691
Duke Energy Florida LLC 3.40%, 10/01/46 (Call 04/01/46)^(b)		230		203,530
3.85%, 11/15/42 (Call 05/15/42)		280		268,670
5.65%, 04/01/40		150		178,722
6.35%, 09/15/37		100		126,319
6.40%, 06/15/38		300		385,791
Duke Energy Indiana LLC 3.75%, 05/15/46 (Call 12/15/45)		145		135,856
6.12%, 10/15/35		250		296,788
6.35%, 08/15/38		46		58,906
6.45%, 04/01/39		150		188,756
Series UUU, 4.20%, 03/15/42 (Call 09/15/41)^(b)		125		123,269
Series WWW, 4.90%, 07/15/43 (Call 01/15/43)		35		38,558
Duke Energy Ohio Inc., 3.70%, 06/15/46 (Call 12/15/45)		10		9,237
Duke Energy Progress LLC 3.70%, 10/15/46 (Call 04/15/46)		250		234,310
4.10%, 05/15/42 (Call 11/15/41)		150		148,873
4.10%, 03/15/43 (Call 09/15/42)		186		184,580
4.15%, 12/01/44 (Call 06/01/44)		175		174,430
4.20%, 08/15/45 (Call 02/15/45)		250		251,632
4.38%, 03/30/44 (Call 09/30/43)		150		154,798
6.30%, 04/01/38		250		311,607
El Paso Electric Co. 5.00%, 12/01/44 (Call 06/01/44)^(b)		100		103,124
6.00%, 05/15/35^(b)		150		168,995
Electricite de France SA 4.75%, 10/13/35 (Call 04/13/35)^(a)		625		601,987
4.88%, 01/22/44^(a)		900		863,221
5.00%, 09/21/48 (Call 03/21/48)^(a)(b)		1,200		1,180,452
Emera U.S. Finance LP, 4.75%, 06/15/46 (Call 12/15/45)		520		509,143
Enel Finance International NV 4.75%, 05/25/47^(a)(b)		735		652,601
4.88%, 06/14/29^(a)		800		795,962
6.00%, 10/07/39^(a)(b)		275		285,606


Security	Par (000)		Value

Electric (continued)
Entergy Louisiana LLC 3.05%, 06/01/31 (Call 03/01/31)	$	215	$	198,625
4.00%, 03/15/33 (Call 12/15/32)		500		507,826
4.20%, 09/01/48 (Call 03/01/48)		220		220,603
4.95%, 01/15/45 (Call 01/15/25)		100		103,644
Exelon Corp. 4.45%, 04/15/46 (Call 10/15/45)		350		340,765
4.95%, 06/15/35 (Call 12/15/34)		225		231,108
5.10%, 06/15/45 (Call 12/15/44)		209		221,681
5.63%, 06/15/35		285		315,401
Exelon Generation Co. LLC 5.60%, 06/15/42 (Call 12/15/41)		270		268,106
5.75%, 10/01/41 (Call 04/01/41)		20		19,771
6.25%, 10/01/39		200		211,578
FirstEnergy Corp.
Series C, 4.85%, 07/15/47 (Call 01/15/47)		700		722,307
Series C, 7.38%, 11/15/31		460		593,179
Florida Power & Light Co. 3.70%, 12/01/47 (Call 06/01/47)		305		290,390
3.80%, 12/15/42 (Call 06/15/42)		250		241,229
3.95%, 03/01/48 (Call 09/01/47)		105		104,273
3.99%, 03/01/49 (Call 09/01/48)		500		497,001
4.05%, 06/01/42 (Call 12/01/41)		200		200,930
4.05%, 10/01/44 (Call 04/01/44)		250		251,663
4.13%, 02/01/42 (Call 08/01/41)		260		265,350
4.13%, 06/01/48 (Call 12/01/47)		260		265,537
4.95%, 06/01/35		200		222,782
5.25%, 02/01/41 (Call 08/01/40)		200		232,675
5.65%, 02/01/37		96		114,928
5.69%, 03/01/40		124		152,233
5.95%, 02/01/38		350		434,952
Georgia Power Co. 4.30%, 03/15/42		290		272,877
4.30%, 03/15/43		271		248,249
Series 10-C, 4.75%, 09/01/40		263		259,118
Iberdrola International BV, 6.75%, 07/15/36		150		180,404
Indiana Michigan Power Co. 4.25%, 08/15/48 (Call 02/15/48)		175		173,556
6.05%, 03/15/37		105		121,968
Series K, 4.55%, 03/15/46 (Call 09/15/45)^(b)		200		204,914
Series L, 3.75%, 07/01/47 (Call 01/01/47)		150		136,339
Interstate Power & Light Co. 3.70%, 09/15/46 (Call 03/15/46)		325		289,826
6.25%, 07/15/39		30		36,633
ITC Holdings Corp., 5.30%, 07/01/43 (Call 01/01/43)		75		82,494
Kansas City Power & Light Co. 4.20%, 03/15/48 (Call 09/15/47)		260		253,490
5.30%, 10/01/41 (Call 04/01/41)		195		215,145
Kentucky Utilities Co., 5.13%, 11/01/40 (Call 05/01/40)^(b)		349		396,760
MidAmerican Energy Co. 3.65%, 08/01/48 (Call 02/01/48)		240		223,083
4.25%, 05/01/46 (Call 11/01/45)		111		113,144
4.40%, 10/15/44 (Call 04/15/44)		295		308,805
4.80%, 09/15/43 (Call 03/15/43)		175		190,221
5.75%, 11/01/35		46		53,991
6.75%, 12/30/31		11		14,161
Minejesa Capital BV, 5.63%, 08/10/37^(a)		500		476,250
Mississippi Power Co., Series 12-A, 4.25%, 03/15/42		350		321,764
Monongahela Power Co., 5.40%, 12/15/43 (Call 06/15/43)^(a)(b)		25		29,099


Security	Par (000)		Value

Electric (continued)
National Grid USA, 5.80%, 04/01/35	$	180	$	199,379
Nevada Power Co., Series N, 6.65%, 04/01/36		300		378,386
New England Power Co., 3.80%, 12/05/47 (Call 06/05/47)^(a)(b)		900		823,271
Northern States Power Co./MN 3.40%, 08/15/42 (Call 02/15/42)^(b)		375		342,945
3.60%, 05/15/46 (Call 11/15/45)		50		46,692
4.00%, 08/15/45 (Call 02/15/45)		90		88,344
4.13%, 05/15/44 (Call 11/15/43)		7		7,035
4.85%, 08/15/40 (Call 02/15/40)		25		27,202
5.35%, 11/01/39		5		5,839
6.25%, 06/01/36		106		132,911
NorthWestern Corp., 4.18%, 11/15/44 (Call 05/15/44)		171		168,268
NSTAR Electric Co. 4.40%, 03/01/44 (Call 09/01/43)		110		113,529
5.50%, 03/15/40		241		278,329
Oglethorpe Power Corp. 4.20%, 12/01/42		50		44,776
4.25%, 04/01/46 (Call 10/01/45)		50		45,283
4.55%, 06/01/44		500		466,052
5.25%, 09/01/50		25		26,148
5.38%, 11/01/40		175		187,962
5.95%, 11/01/39		25		28,170
Ohio Edison Co. 6.88%, 07/15/36		250		310,934
8.25%, 10/15/38		65		92,214
Ohio Power Co., 4.15%, 04/01/48 (Call 10/01/47)		75		74,780
Oklahoma Gas & Electric Co. 3.85%, 08/15/47 (Call 02/15/47)^(b)		250		231,229
4.15%, 04/01/47 (Call 10/01/46)		405		393,176
Oncor Electric Delivery Co. LLC 3.80%, 09/30/47 (Call 03/30/47)		100		96,213
4.55%, 12/01/41 (Call 06/01/41)		150		161,159
5.25%, 09/30/40		305		352,028
5.30%, 06/01/42 (Call 12/01/41)		200		232,764
7.25%, 01/15/33		150		200,668
PacifiCorp 4.10%, 02/01/42 (Call 08/01/41)		95		92,782
4.13%, 01/15/49 (Call 07/15/48)		150		148,025
4.15%, 02/15/50 (Call 08/15/49)		250		247,183
6.00%, 01/15/39		375		456,553
6.10%, 08/01/36		230		278,030
6.25%, 10/15/37		50		62,025
6.35%, 07/15/38		150		188,291
PECO Energy Co. 3.90%, 03/01/48 (Call 09/01/47)		250		241,610
4.15%, 10/01/44 (Call 04/01/44)		200		199,711
5.95%, 10/01/36		111		132,045
Pennsylvania Electric Co., 6.15%, 10/01/38		75		85,473
Perusahaan Listrik Negara PT, 6.15%, 05/21/48^(a)		1,000		1,064,890
Potomac Electric Power Co. 4.15%, 03/15/43 (Call 09/15/42)		116		115,075
6.50%, 11/15/37		175		219,674
PPL Capital Funding Inc. 4.00%, 09/15/47 (Call 03/15/47)		350		313,749
4.70%, 06/01/43 (Call 12/01/42)		50		49,636
5.00%, 03/15/44 (Call 09/15/43)		300		311,287
PPL Electric Utilities Corp. 3.95%, 06/01/47 (Call 12/01/46)		200		196,040
4.13%, 06/15/44 (Call 12/15/43)		50		49,835


Security	Par (000)		Value

Electric (continued)
4.15%, 06/15/48 (Call 12/15/47)	$	205	$	207,391
6.25%, 05/15/39		161		202,206
Progress Energy Inc. 7.00%, 10/30/31		110		139,830
7.75%, 03/01/31		259		344,089
PSEG Power LLC, 8.63%, 04/15/31		235		307,451
Public Service Co. of Colorado 3.60%, 09/15/42 (Call 03/15/42)		225		209,019
3.80%, 06/15/47 (Call 12/15/46)		300		284,498
4.10%, 06/15/48 (Call 12/15/47)		250		251,657
4.30%, 03/15/44 (Call 09/15/43)		150		154,011
4.75%, 08/15/41 (Call 02/15/41)		5		5,248
6.50%, 08/01/38		100		129,155
Series 17, 6.25%, 09/01/37		60		75,888
Public Service Co. of Oklahoma, Series G, 6.63%, 11/15/37		50		61,921
Public Service Electric & Gas Co. 3.60%, 12/01/47 (Call 06/01/47)		220		203,615
3.65%, 09/01/42 (Call 03/01/42)		75		70,367
3.80%, 03/01/46 (Call 09/01/45)		225		214,026
3.95%, 05/01/42 (Call 11/01/41)		285		279,872
4.05%, 05/01/48 (Call 11/01/47)		155		155,751
4.15%, 11/01/45 (Call 05/01/45)		25		24,522
5.50%, 03/01/40		50		58,380
5.80%, 05/01/37		150		179,833
Puget Sound Energy Inc. 4.30%, 05/20/45 (Call 11/20/44)		111		113,602
4.43%, 11/15/41 (Call 05/15/41)		50		50,813
5.64%, 04/15/41 (Call 10/15/40)		235		278,666
5.76%, 10/01/39		200		237,534
5.80%, 03/15/40		56		67,748
6.27%, 03/15/37		5		6,205
San Diego Gas & Electric Co. 4.15%, 05/15/48 (Call 11/15/47)		100		95,268
4.50%, 08/15/40		100		98,638
6.00%, 06/01/39		163		185,152
Series RRR, 3.75%, 06/01/47 (Call 12/01/46)		200		179,758
Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/44^(a)		600		622,500
Sempra Energy 3.80%, 02/01/38 (Call 08/01/37)		650		571,222
4.00%, 02/01/48 (Call 08/01/47)		435		379,019
6.00%, 10/15/39		275		309,712
South Carolina Electric & Gas Co. 4.35%, 02/01/42 (Call 08/01/41)		175		180,170
4.60%, 06/15/43 (Call 12/15/42)		166		173,359
5.10%, 06/01/65 (Call 12/01/64)		115		125,217
5.30%, 05/15/33		5		5,498
5.45%, 02/01/41 (Call 08/01/40)		95		108,496
6.05%, 01/15/38		298		355,001
Southern California Edison Co. 4.00%, 04/01/47 (Call 10/01/46)		300		270,913
4.05%, 03/15/42 (Call 09/15/41)		95		87,885
4.50%, 09/01/40 (Call 03/01/40)		48		47,151
4.65%, 10/01/43 (Call 04/01/43)		200		199,095
5.50%, 03/15/40^(b)		217		234,578
5.63%, 02/01/36		150		160,792
6.00%, 01/15/34		266		293,567
6.05%, 03/15/39		150		167,136
6.65%, 04/01/29		250		277,225
Series 04-G, 5.75%, 04/01/35		105		111,878
Series 05-E, 5.35%, 07/15/35		150		154,447


Security	Par (000)		Value

Electric (continued)
Series 06-E, 5.55%, 01/15/37	$	250	$	267,075
Series 08-A, 5.95%, 02/01/38		185		205,543
Series 13-A, 3.90%, 03/15/43 (Call 09/15/42)		305		272,055
Series C, 3.60%, 02/01/45 (Call 08/01/44)		255		217,630
Series C, 4.13%, 03/01/48 (Call 09/01/47)		100		92,173
Southern Co. (The)
4.25%, 07/01/36 (Call 01/01/36)		300		286,832
4.40%, 07/01/46 (Call 01/01/46)		350		335,859
Southern Power Co.
5.15%, 09/15/41		325		322,904
5.25%, 07/15/43		50		49,779
Series F, 4.95%, 12/15/46 (Call 06/15/46)		25		23,974
Southwestern Electric Power Co.
6.20%, 03/15/40		150		176,940
Series J, 3.90%, 04/01/45 (Call 10/01/44)		200		181,085
Series L, 3.85%, 02/01/48 (Call 08/01/47)		100		89,639
Southwestern Public Service Co.
3.40%, 08/15/46 (Call 02/15/46)		360		313,811
3.70%, 08/15/47 (Call 02/15/47)		250		230,507
4.50%, 08/15/41 (Call 02/15/41)		100		103,103
Series 6, 4.40%, 11/15/48 (Call 05/15/48)		205		212,072
State Grid Overseas Investment 2016 Ltd., 4.00%, 05/04/47^(a)		500		476,802
Tampa Electric Co.
4.10%, 06/15/42 (Call 12/15/41)		75		71,295
4.20%, 05/15/45 (Call 11/15/44)		350		329,087
4.35%, 05/15/44 (Call 11/15/43)		150		146,088
4.45%, 06/15/49 (Call 12/15/48)		165		164,086
Toledo Edison Co. (The), 6.15%, 05/15/37		220		259,752
TransAlta Corp., 6.50%, 03/15/40		150		147,042
Union Electric Co.
3.90%, 09/15/42 (Call 03/15/42)		250		245,322
8.45%, 03/15/39		111		164,583
Virginia Electric & Power Co.
4.00%, 01/15/43 (Call 07/15/42)		116		110,114
4.45%, 02/15/44 (Call 08/15/43)		150		152,291
4.60%, 12/01/48 (Call 06/01/48)		100		104,347
8.88%, 11/15/38		300		457,519
Series A, 6.00%, 05/15/37		75		89,895
Series B, 4.20%, 05/15/45 (Call 11/15/44)		7		6,869
Series B, 6.00%, 01/15/36		250		296,618
Series C, 4.00%, 11/15/46 (Call 05/15/46)		60		57,374
Series D, 4.65%, 08/15/43 (Call 02/15/43)		71		74,323
Westar Energy Inc. 4.10%, 04/01/43 (Call 10/01/42)		5		4,908
4.13%, 03/01/42 (Call 09/01/41)^(b)		300		297,052
4.25%, 12/01/45 (Call 06/01/45)		275		277,323
4.63%, 09/01/43 (Call 03/01/43)		105		109,748
Wisconsin Electric Power Co., 4.30%, 10/15/48 (Call 04/15/48)^(b)		170		175,230
Wisconsin Power & Light Co., 6.38%, 08/15/37		235		294,605
Wisconsin Public Service Corp., 4.75%, 11/01/44 (Call 05/01/44)		205		222,114
Xcel Energy Inc., 6.50%, 07/01/36		200		245,837

				70,659,669

Electronics — 0.3%
Corning Inc.
4.38%, 11/15/57 (Call 05/15/57)		300		262,488
4.70%, 03/15/37 (Call 09/15/36)		60		59,064
4.75%, 03/15/42		100		98,109


Security	Par (000)		Value

Electronics (continued)
5.35%, 11/15/48 (Call 05/15/48)	$	100	$	106,623
5.75%, 08/15/40		200		215,997
Fortive Corp., 4.30%, 06/15/46 (Call 12/15/45)		225		212,869
Honeywell International Inc., 3.81%, 11/21/47 (Call 05/21/47)		300		291,249
Tyco Electronics Group SA, 7.13%, 10/01/37		200		256,142

				1,502,541

Engineering & Construction — 0.1%
Mexico City Airport Trust, 5.50%, 07/31/47 (Call 01/31/47)^(a)		708		608,880


Environmental Control — 0.1%
Republic Services Inc., 5.70%, 05/15/41 (Call 11/15/40)		30		34,904
Waste Management Inc.
3.90%, 03/01/35 (Call 09/01/34)		150		145,885
4.10%, 03/01/45 (Call 09/01/44)		410		401,574

				582,363

Food — 1.9%
Ahold Finance USA LLC, 6.88%, 05/01/29		11		12,937
Campbell Soup Co.
3.80%, 08/02/42		76		57,644
4.80%, 03/15/48 (Call 09/15/47)		355		311,076
Conagra Brands Inc.
5.30%, 11/01/38 (Call 05/01/38)		480		456,044
5.40%, 11/01/48 (Call 05/01/48)^(b)		60		56,297
8.25%, 09/15/30		100		128,121
General Mills Inc.
4.15%, 02/15/43 (Call 08/15/42)		30		26,034
4.55%, 04/17/38 (Call 10/17/37)		295		276,497
4.70%, 04/17/48 (Call 10/17/47)		250		233,103
5.40%, 06/15/40		190		193,111
Grupo Bimbo SAB de CV, 4.70%, 11/10/47 (Call 05/10/47)^(a)		200		184,325
Hershey Co. (The), 3.38%, 08/15/46 (Call 02/15/46)		200		179,259
Ingredion Inc., 6.63%, 04/15/37		50		60,036
JM Smucker Co. (The)
4.25%, 03/15/35^(b)		325		295,639
4.38%, 03/15/45^(b)		100		89,754
Kellogg Co.
4.50%, 04/01/46^(b)		225		204,996
Series B, 7.45%, 04/01/31		180		227,449
Koninklijke Ahold Delhaize NV, 5.70%, 10/01/40		117		125,629
Kraft Heinz Foods Co.
4.38%, 06/01/46 (Call 12/01/45)^(b)		1,115		924,731
4.63%, 01/30/29 (Call 10/30/28)		550		551,565
5.00%, 07/15/35 (Call 01/15/35)		400		378,991
5.00%, 06/04/42		500		453,495
5.20%, 07/15/45 (Call 01/15/45)		405		376,798
6.50%, 02/09/40		435		456,250
6.75%, 03/15/32		60		67,013
6.88%, 01/26/39		265		291,636
Kroger Co. (The)
3.88%, 10/15/46 (Call 04/15/46)		215		170,830
4.45%, 02/01/47 (Call 08/01/46)		300		264,473
5.00%, 04/15/42 (Call 10/15/41)		125		117,331
5.15%, 08/01/43 (Call 02/01/43)		185		177,057
5.40%, 07/15/40 (Call 01/15/40)		200		197,727
5.40%, 01/15/49 (Call 07/15/48)		100		98,553
6.90%, 04/15/38		250		287,165
7.50%, 04/01/31		150		182,872
McCormick & Co. Inc./MD, 4.20%, 08/15/47 (Call 02/15/47)		100		90,391
Mondelez International Inc., 4.63%, 05/07/48 (Call 11/07/47)		275		263,330


Security	Par (000)		Value

Food (continued)
Nestle Holdings Inc.
3.90%, 09/24/38 (Call 03/24/38)^(a)(b)	$	285	$	283,495
4.00%, 09/24/48 (Call 03/24/48)^(a)		500		495,498
Sysco Corp.
4.45%, 03/15/48 (Call 09/15/47)		175		169,989
4.50%, 04/01/46 (Call 10/01/45)		241		235,400
4.85%, 10/01/45 (Call 04/01/45)		100		104,080
5.38%, 09/21/35		150		164,777
Tyson Foods Inc.
4.88%, 08/15/34 (Call 02/15/34)		400		400,507
5.10%, 09/28/48 (Call 03/28/48)		440		426,419
5.15%, 08/15/44 (Call 02/15/44)		335		324,825

				11,073,149

Forest Products & Paper — 0.5%
Celulosa Arauco y Constitucion SA, 5.50%, 11/02/47 (Call 05/02/47)		200		194,753
Domtar Corp., 6.75%, 02/15/44 (Call 08/15/43)^(b)		175		173,120
Georgia-Pacific LLC
7.75%, 11/15/29		185		245,959
8.88%, 05/15/31		214		312,445
International Paper Co.
4.35%, 08/15/48 (Call 02/15/48)		235		208,404
4.40%, 08/15/47 (Call 02/15/47)		335		299,720
4.80%, 06/15/44 (Call 12/15/43)		200		190,640
5.00%, 09/15/35 (Call 03/15/35)		110		110,775
5.15%, 05/15/46 (Call 11/15/45)		175		172,270
6.00%, 11/15/41 (Call 05/15/41)		185		198,429
7.30%, 11/15/39		320		389,123
8.70%, 06/15/38^(b)		35		46,683
Suzano Austria GmbH, 7.00%, 03/16/47 (Call 09/16/46)^(a)		200		219,050

				2,761,371

Gas — 1.0%
Atmos Energy Corp.
4.13%, 10/15/44 (Call 04/15/44)		400		392,813
4.13%, 03/15/49 (Call 09/15/48)		150		147,882
4.15%, 01/15/43 (Call 07/15/42)		145		142,495
4.30%, 10/01/48 (Call 04/01/48)		125		127,654
5.50%, 06/15/41 (Call 12/15/40)		5		5,827
Brooklyn Union Gas Co. (The)
4.27%, 03/15/48 (Call 09/15/47)^(a)		800		782,087
4.49%, 03/04/49 (Call 09/04/48)^(a)		150		149,670
CenterPoint Energy Resources Corp.
4.10%, 09/01/47 (Call 03/01/47)		90		84,554
5.85%, 01/15/41 (Call 07/15/40)		235		270,386
Dominion Energy Gas Holdings LLC
4.60%, 12/15/44 (Call 06/15/44)		260		263,039
4.80%, 11/01/43 (Call 05/01/43)		115		119,957
Korea Gas Corp., 6.25%, 01/20/42^(a)(b)		300		394,711
NiSource Inc.
3.95%, 03/30/48 (Call 12/30/47)		145		131,074
4.38%, 05/15/47 (Call 11/15/46)		50		48,376
4.80%, 02/15/44 (Call 08/15/43)		175		176,748
5.25%, 02/15/43 (Call 08/15/42)		375		396,925
5.65%, 02/01/45 (Call 08/01/44)		411		457,457
5.95%, 06/15/41 (Call 12/15/40)		200		225,869
ONE Gas Inc.
4.50%, 11/01/48 (Call 05/01/48)^(b)		50		52,721
4.66%, 02/01/44 (Call 08/01/43)		275		292,194


Security	Par (000)		Value

Gas (continued)
Piedmont Natural Gas Co. Inc.
3.64%, 11/01/46 (Call 05/01/46)	$	20	$	17,552
4.65%, 08/01/43 (Call 02/01/43)		153		159,541
Southern California Gas Co.
3.75%, 09/15/42 (Call 03/15/42)		5		4,624
Series UU, 4.13%, 06/01/48 (Call 12/01/47)		175		172,497
Southern Co. Gas Capital Corp.
3.95%, 10/01/46 (Call 04/01/46)		250		222,861
4.40%, 06/01/43 (Call 12/01/42)		71		68,301
4.40%, 05/30/47 (Call 11/30/46)		90		86,829
5.88%, 03/15/41 (Call 09/15/40)		325		370,244
Southwest Gas Corp., 3.80%, 09/29/46 (Call 03/29/46)		110		99,359

				5,864,247

Hand & Machine Tools — 0.1%
Snap-on Inc., 4.10%, 03/01/48 (Call 09/01/47)		195		194,274
Stanley Black & Decker Inc.
4.85%, 11/15/48 (Call 05/15/48)		100		104,329
5.20%, 09/01/40		200		213,987

				512,590

Health Care – Products — 1.7%
Abbott Laboratories
4.75%, 11/30/36 (Call 05/30/36)		730		785,373
4.75%, 04/15/43 (Call 10/15/42)^(b)		230		241,487
4.90%, 11/30/46 (Call 05/30/46)^(b)		900		983,832
5.30%, 05/27/40		250		278,227
6.00%, 04/01/39		200		235,071
Baxter International Inc., 3.50%, 08/15/46 (Call 02/15/46)		350		289,264
Becton Dickinson and Co.
4.67%, 06/06/47 (Call 12/06/46)		450		445,696
4.69%, 12/15/44 (Call 06/15/44)		535		523,790
5.00%, 11/12/40		165		163,071
Boston Scientific Corp.
4.55%, 03/01/39 (Call 09/01/38)		95		94,298
4.70%, 03/01/49 (Call 09/01/48)		350		349,432
7.00%, 11/15/35		130		160,693
7.38%, 01/15/40		150		191,636
Covidien International Finance SA, 6.55%, 10/15/37		110		143,478
Danaher Corp., 4.38%, 09/15/45 (Call 03/15/45)^(b)		175		172,871
Koninklijke Philips NV, 5.00%, 03/15/42		300		322,246
Medtronic Inc. 4.38%, 03/15/35		850		895,839
4.50%, 03/15/42 (Call 09/15/41)		86		92,606
4.63%, 03/15/44 (Call 09/15/43)		150		165,051
4.63%, 03/15/45		1,380		1,511,771
5.55%, 03/15/40		200		241,225
6.50%, 03/15/39		100		130,452
Stryker Corp.
4.10%, 04/01/43 (Call 10/01/42)		405		382,016
4.38%, 05/15/44 (Call 12/15/43)		20		19,727
4.63%, 03/15/46 (Call 09/15/45)		180		184,747
Thermo Fisher Scientific Inc.
4.10%, 08/15/47 (Call 02/15/47)		275		260,497
5.30%, 02/01/44 (Call 08/01/43)		190		208,453
Zimmer Biomet Holdings Inc.
4.25%, 08/15/35 (Call 02/15/35)		200		177,797
4.45%, 08/15/45 (Call 07/15/45)		100		90,677
5.75%, 11/30/39		200		207,280

				9,948,603


Security	Par (000)		Value

Health Care – Services — 2.7%
Advocate Health & Hospitals Corp., 4.27%, 08/15/48 (Call 02/15/48)	$	50	$	51,024
Aetna Inc.
3.88%, 08/15/47 (Call 02/15/47)		250		206,489
4.13%, 11/15/42 (Call 05/15/42)		235		204,609
4.50%, 05/15/42 (Call 11/15/41)		175		160,997
4.75%, 03/15/44 (Call 09/15/43)		160		151,605
6.63%, 06/15/36		165		192,784
6.75%, 12/15/37		260		310,034
Anthem Inc.
4.38%, 12/01/47 (Call 06/01/47)		435		414,985
4.55%, 03/01/48 (Call 09/01/47)^(b)		510		501,987
4.63%, 05/15/42		400		398,899
4.65%, 01/15/43		470		469,017
4.65%, 08/15/44 (Call 02/15/44)		300		299,130
5.10%, 01/15/44		75		79,420
Ascension Health
3.95%, 11/15/46		608		595,375
4.85%, 11/15/53		11		12,299
Baylor Scott & White Holdings
3.97%, 11/15/46 (Call 05/15/46)		350		332,970
4.19%, 11/15/45 (Call 05/15/45)		166		163,566
Cigna Holding Co., 3.88%, 10/15/47 (Call 04/15/47)		535		454,053
CommonSpirit Health, 4.35%, 11/01/42		325		293,921
Dartmouth-Hitchcock Health, Series B, 4.18%, 08/01/48 (Call 02/01/48)		200		194,438
Dignity Health
4.50%, 11/01/42		100		93,377
5.27%, 11/01/64		100		99,880
Hackensack Meridian Health Inc., 4.21%, 07/01/48 (Call 01/01/48)		50		49,452
HCA Inc., 5.50%, 06/15/47 (Call 12/15/46)		500		519,440
Humana Inc.
4.63%, 12/01/42 (Call 06/01/42)		235		233,153
4.80%, 03/15/47 (Call 09/14/46)		215		219,116
4.95%, 10/01/44 (Call 04/01/44)		195		200,394
Johns Hopkins Health System Corp. (The), 3.84%, 05/15/46		60		57,506
Kaiser Foundation Hospitals
4.15%, 05/01/47 (Call 11/01/46)		775		782,220
4.88%, 04/01/42		100		111,744
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)		325		304,988
Mayo Clinic, Series 2013, 4.00%, 11/15/47		11		10,839
Memorial Sloan-Kettering Cancer Center
4.13%, 07/01/52		275		273,301
Series 2015, 4.20%, 07/01/55^(b)		225		226,099
Montefiore Medical Center, Series 18-C, 5.25%, 11/01/48		115		115,247
Mount Sinai Hospitals Group Inc., Series 2017, 3.98%, 07/01/48		150		140,161
New York and Presbyterian Hospital (The)
4.02%, 08/01/45		21		20,768
4.06%, 08/01/56		350		342,667
Northwell Healthcare Inc., 3.98%, 11/01/46 (Call 11/01/45)		425		389,837
Providence St Joseph Health Obligated Group, Series I,
3.74%, 10/01/47		250		229,995
Quest Diagnostics Inc., 4.70%, 03/30/45 (Call 09/30/44)		197		184,608
Southern Baptist Hospital of Florida Inc., 4.86%, 07/15/45 (Call 01/15/45)		25		26,719
Stanford Health Care, Series 2018, 3.80%, 11/15/48 (Call 05/15/48)		250		239,606


Security	Par (000)		Value

Health Care – Services (continued)
Sutter Health, Series 2018, 4.09%, 08/15/48 (Call 02/15/48)	$	35	$	34,027
Texas Health Resources, 4.33%, 11/15/55		9		9,120
Toledo Hospital (The), 6.02%, 11/15/48		500		529,016
UnitedHealth Group Inc.
3.75%, 10/15/47 (Call 04/15/47)		200		187,853
3.95%, 10/15/42 (Call 04/15/42)		152		148,363
4.20%, 01/15/47 (Call 07/15/46)		250		250,782
4.25%, 03/15/43 (Call 09/15/42)		425		432,597
4.25%, 04/15/47 (Call 10/15/46)		275		278,117
4.25%, 06/15/48 (Call 12/15/47)		425		429,630
4.38%, 03/15/42 (Call 09/15/41)		250		257,843
4.63%, 07/15/35		250		271,736
4.63%, 11/15/41 (Call 05/15/41)		100		106,161
4.75%, 07/15/45		850		924,208
5.70%, 10/15/40 (Call 04/15/40)		100		119,904
5.80%, 03/15/36		250		301,422
5.95%, 02/15/41 (Call 08/15/40)		200		247,191
6.50%, 06/15/37		100		127,381
6.63%, 11/15/37		111		143,601
6.88%, 02/15/38		350		467,136

				15,624,807

Home Furnishings — 0.0%
Whirlpool Corp., 4.50%, 06/01/46 (Call 12/01/45)		315		260,722


Household Products & Wares — 0.2%
Kimberly-Clark Corp.
3.20%, 07/30/46 (Call 01/30/46)		240		208,001
3.90%, 05/04/47 (Call 11/04/46)		310		305,879
5.30%, 03/01/41		31		36,057
6.63%, 08/01/37		295		388,896

				938,833

Housewares — 0.1%
Newell Brands Inc.
5.38%, 04/01/36 (Call 10/01/35)		289		256,280
5.50%, 04/01/46 (Call 10/01/45)		100		86,866

				343,146

Insurance — 5.4%
ACE Capital Trust II, Series N, 9.70%, 04/01/30		100		135,000
Aflac Inc.
4.00%, 10/15/46 (Call 04/15/46)		285		270,992
4.75%, 01/15/49 (Call 07/15/48)		185		195,387
6.45%, 08/15/40		65		81,104
Alleghany Corp., 4.90%, 09/15/44 (Call 03/15/44)		125		121,792
Allstate Corp. (The)
4.20%, 12/15/46 (Call 06/15/46)		80		79,608
4.50%, 06/15/43		345		358,898
5.35%, 06/01/33		118		135,262
5.55%, 05/09/35		376		430,820
5.95%, 04/01/36		50		59,767
6.50%, 05/15/67 (Call 05/15/37)^(b)(c)(d)		85		90,950
American Financial Group Inc./OH, 4.50%, 06/15/47 (Call 12/15/46)		330		297,765
American International Group Inc. 3.88%, 01/15/35 (Call 07/15/34)		490		435,559
4.38%, 01/15/55 (Call 07/15/54)		325		274,724
4.50%, 07/16/44 (Call 01/16/44)		415		380,080
4.70%, 07/10/35 (Call 01/10/35)		200		193,614
4.75%, 04/01/48 (Call 10/01/47)		385		363,537
4.80%, 07/10/45 (Call 01/10/45)		440		423,166


Security	Par (000)		Value

Insurance (continued)
6.25%, 05/01/36	$	300	$	336,370
8.18%, 05/15/68 (Call 05/15/38)^(c)(d)		50		58,000
Aon PLC 4.60%, 06/14/44 (Call 03/14/44)		225		222,587
4.75%, 05/15/45 (Call 11/15/44)		311		315,414
Arch Capital Finance LLC, 5.03%, 12/15/46 (Call 06/15/46)		220		231,840
Arch Capital Group Ltd., 7.35%, 05/01/34		45		58,626
Arch Capital Group U.S. Inc., 5.14%, 11/01/43		220		233,493
Assurant Inc., 6.75%, 02/15/34		170		188,311
AXA Equitable Holdings Inc., 5.00%, 04/20/48 (Call 10/20/47)		550		514,114
AXA SA, 8.60%, 12/15/30		740		965,522
AXIS Specialty Finance PLC, 5.15%, 04/01/45		75		72,435
Berkshire Hathaway Finance Corp.
4.20%, 08/15/48 (Call 02/15/48)		325		326,724
4.25%, 01/15/49 (Call 07/15/48)		250		253,223
4.30%, 05/15/43		168		171,623
4.40%, 05/15/42		385		399,160
5.75%, 01/15/40		300		362,652
Berkshire Hathaway Inc., 4.50%, 02/11/43^(b)		295		312,074
Brighthouse Financial Inc., 4.70%, 06/22/47 (Call 12/22/46)		550		435,204
Chubb Corp. (The), 6.00%, 05/11/37^(b)		210		259,620
Chubb INA Holdings Inc. 4.15%, 03/13/43		250		254,675
4.35%, 11/03/45 (Call 05/03/45)^(b)		600		628,231
Everest Reinsurance Holdings Inc., 4.87%, 06/01/44		200		195,370
Farmers Exchange Capital III, 5.45%, 10/15/54 (Call 10/15/34)^(a)(c)(d)		60		57,615
Farmers Insurance Exchange, 4.75%, 11/01/57 (Call 11/01/37)^(a)(b)(c)(d)		300		259,584
Guardian Life Insurance Co. of America (The)
4.85%, 01/24/77^(a)		200		200,808
4.88%, 06/19/64^(a)		165		167,560
Hartford Financial Services Group Inc. (The)
4.30%, 04/15/43		14		13,452
4.40%, 03/15/48 (Call 09/15/47)		100		97,014
5.95%, 10/15/36		200		228,884
6.10%, 10/01/41		225		263,301
6.63%, 03/30/40		135		163,962
Liberty Mutual Group Inc., 4.85%, 08/01/44^(a)		650		638,376
Liberty Mutual Insurance Co., 7.70%, 10/15/97^(a)		70		89,890
Lincoln National Corp. 4.35%, 03/01/48 (Call 09/01/47)		300		282,746
6.15%, 04/07/36		195		227,869
6.30%, 10/09/37		41		48,894
7.00%, 06/15/40		125		160,316
Loews Corp.
4.13%, 05/15/43 (Call 11/15/42)		240		226,759
6.00%, 02/01/35		150		170,752
Manulife Financial Corp., 5.38%, 03/04/46		400		445,721
Markel Corp.
4.30%, 11/01/47 (Call 05/01/47)		100		88,233
5.00%, 04/05/46		150		148,221
Marsh & McLennan Companies Inc.
4.20%, 03/01/48 (Call 09/01/47)		200		190,473
4.35%, 01/30/47 (Call 07/30/46)		242		236,930
4.90%, 03/15/49 (Call 09/15/48)		565		592,370
5.88%, 08/01/33		25		29,350
Massachusetts Mutual Life Insurance Co.
4.50%, 04/15/65^(a)		400		376,237
5.38%, 12/01/41^(a)		25		27,606


Security	Par (000)		Value

Insurance (continued)
MetLife Capital Trust IV, 7.88%, 12/15/67 (Call 12/15/32)^(a)	$	30	$	36,513
MetLife Inc.
4.05%, 03/01/45		450		424,623
4.13%, 08/13/42		425		409,588
4.60%, 05/13/46 (Call 12/13/45)		300		310,941
4.88%, 11/13/43		375		399,779
5.70%, 06/15/35		460		535,758
5.88%, 02/06/41		50		59,920
6.38%, 06/15/34^(b)		100		123,956
6.40%, 12/15/66 (Call 12/15/31)		445		471,700
6.50%, 12/15/32		340		430,706
10.75%, 08/01/69 (Call 08/01/34)		66		98,340
Series N, 4.72%, 12/15/44		225		235,706
Mutual of Omaha Insurance Co., 6.80%, 06/15/36^(a)		75		92,582
Nationwide Financial Services Inc., 5.30%, 11/18/44^(a)		250		262,693
Nationwide Mutual Insurance Co., 9.38%, 08/15/39^(a)		350		533,783
New York Life Insurance Co., 5.88%, 05/15/33^(a)(b)		650		785,645
Northwestern Mutual Life Insurance Co. (The),
6.06%, 03/30/40^(a)(b)		900		1,110,934
Pacific Life Insurance Co., 4.30%, 10/24/67 (Call 10/24/47)^(a)(c)(d)		600		534,898
Principal Financial Group Inc.
4.35%, 05/15/43		300		285,633
4.63%, 09/15/42		15		14,988
6.05%, 10/15/36		191		222,136
Progressive Corp. (The)
3.70%, 01/26/45		150		139,601
4.13%, 04/15/47 (Call 10/15/46)		100		99,957
4.20%, 03/15/48 (Call 09/15/47)		385		390,723
4.35%, 04/25/44		136		138,921
6.25%, 12/01/32		200		248,057
Prudential Financial Inc.
3.91%, 12/07/47 (Call 06/07/47)		225		207,603
3.94%, 12/07/49 (Call 06/07/49)		260		242,298
4.35%, 02/25/50 (Call 08/25/49)		250		247,209
4.42%, 03/27/48 (Call 09/27/47)		250		252,619
4.60%, 05/15/44		310		321,859
5.70%, 12/14/36		350		403,914
6.63%, 06/21/40		5		6,311
Sompo International Holdings Ltd., 7.00%, 07/15/34^(b)		175		208,041
Teachers Insurance & Annuity Association of America
4.27%, 05/15/47 (Call 11/15/46)^(a)(b)		1,250		1,225,216
4.90%, 09/15/44^(a)(b)		75		80,018
Transatlantic Holdings Inc., 8.00%, 11/30/39		150		199,412
Travelers Companies Inc. (The)
3.75%, 05/15/46 (Call 11/15/45)		250		235,203
4.00%, 05/30/47 (Call 11/30/46)		185		180,168
4.05%, 03/07/48 (Call 09/07/47)		175		172,203
4.10%, 03/04/49 (Call 09/04/48)		60		59,578
4.30%, 08/25/45 (Call 02/25/45)		185		188,798
4.60%, 08/01/43		91		96,817
5.35%, 11/01/40		235		274,149
6.25%, 06/15/37^(b)		145		183,031
6.75%, 06/20/36		200		261,983
Travelers Property Casualty Corp., 6.38%, 03/15/33		250		315,845
Unum Group, 5.75%, 08/15/42		210		218,854
Voya Financial Inc.
4.80%, 06/15/46		100		99,070
5.70%, 07/15/43		235		258,695


Security	Par (000)		Value

Insurance (continued)
Western & Southern Life Insurance Co. (The), 5.15%, 01/15/49 (Call 07/15/48)^(a)	$	150	$	156,070
Willis North America Inc., 5.05%, 09/15/48 (Call 03/15/48)		35		34,571
WR Berkley Corp., 4.75%, 08/01/44		200		197,959
XLIT Ltd., 5.50%, 03/31/45		276		293,499

				31,575,290

Internet — 0.9%
Alibaba Group Holding Ltd.
4.00%, 12/06/37 (Call 06/06/37)		300		282,031
4.20%, 12/06/47 (Call 06/06/47)		600		566,121
4.50%, 11/28/34 (Call 05/28/34)		435		441,932
Amazon.com Inc.
3.88%, 08/22/37 (Call 02/22/37)^(b)		320		318,934
4.05%, 08/22/47 (Call 02/22/47)		1,150		1,151,986
4.25%, 08/22/57 (Call 02/22/57)		700		709,434
4.80%, 12/05/34 (Call 06/05/34)		860		958,917
4.95%, 12/05/44 (Call 06/05/44)		360		409,013
eBay Inc., 4.00%, 07/15/42 (Call 01/15/42)		370		296,395

				5,134,763

Iron & Steel — 0.4%
ArcelorMittal
6.75%, 03/01/41		10		10,638
7.00%, 10/15/39		250		274,291
Nucor Corp.
5.20%, 08/01/43 (Call 02/01/43)		199		216,081
6.40%, 12/01/37		200		243,143
Vale Overseas Ltd.
6.88%, 11/21/36		550		596,996
6.88%, 11/10/39		435		476,869
8.25%, 01/17/34		420		510,300
Vale SA, 5.63%, 09/11/42		30		29,130

				2,357,448

Leisure Time — 0.0%
Harley-Davidson Inc., 4.63%, 07/28/45 (Call 01/28/45)		150		136,579


Machinery — 0.5%
ABB Finance USA Inc., 4.38%, 05/08/42		357		368,305
Caterpillar Inc.
3.80%, 08/15/42^(b)		550		528,126
4.30%, 05/15/44 (Call 11/15/43)		100		102,153
4.75%, 05/15/64 (Call 11/15/63)		225		236,254
5.20%, 05/27/41		335		381,592
5.30%, 09/15/35		11		12,248
6.05%, 08/15/36		111		136,071
Cummins Inc., 4.88%, 10/01/43 (Call 04/01/43)		175		193,392
Deere & Co.
3.90%, 06/09/42 (Call 12/09/41)^(b)		245		244,099
5.38%, 10/16/29^(b)		200		232,290
7.13%, 03/03/31		101		132,175
Dover Corp., 5.38%, 03/01/41 (Call 12/01/40)		250		267,964
Rockwell Automation Inc., 4.20%, 03/01/49 (Call 09/01/48)		120		120,521
Xylem Inc./NY, 4.38%, 11/01/46 (Call 05/01/46)		225		217,836

				3,173,026

Manufacturing — 1.4%
3M Co.
3.13%, 09/19/46 (Call 03/19/46)		250		215,116
3.63%, 10/15/47 (Call 04/15/47)		265		247,644
3.88%, 06/15/44		150		148,279
4.00%, 09/14/48 (Call 03/14/48)		50		50,239


Security	Par (000)		Value

Manufacturing (continued)
5.70%, 03/15/37	$	50	$	60,193
Crane Co., 4.20%, 03/15/48 (Call 09/15/47)		45		40,722
Eaton Corp.
4.00%, 11/02/32		700		697,760
4.15%, 11/02/42		275		266,272
General Electric Co.
4.13%, 10/09/42		475		401,496
4.50%, 03/11/44		725		646,962
5.88%, 01/14/38		525		551,224
6.15%, 08/07/37		405		434,729
6.88%, 01/10/39^(b)		515		596,202
Series A, 6.75%, 03/15/32		1,080		1,236,782
Illinois Tool Works Inc.
3.90%, 09/01/42 (Call 03/01/42)^(b)		375		376,545
4.88%, 09/15/41 (Call 03/15/41)		200		224,693
Ingersoll-Rand Global Holding Co. Ltd.
4.30%, 02/21/48 (Call 08/21/47)		100		95,198
5.75%, 06/15/43		170		195,121
Ingersoll-Rand Luxembourg Finance SA, 4.65%, 11/01/44 (Call 05/01/44)		140		140,189
Parker-Hannifin Corp.
4.10%, 03/01/47 (Call 09/01/46)		110		107,494
4.20%, 11/21/34 (Call 05/21/34)^(b)		100		101,311
4.45%, 11/21/44 (Call 05/21/44)		200		204,151
Series A, 6.25%, 05/15/38		100		123,428
Siemens Financieringsmaatschappij NV
3.30%, 09/15/46^(a)		150		131,649
4.20%, 03/16/47^(a)(b)		1,000		1,010,540
4.40%, 05/27/45^(a)		100		104,288

				8,408,227

Media — 5.6%
21st Century Fox America Inc.
4.75%, 09/15/44 (Call 03/15/44)		275		296,926
4.95%, 10/15/45 (Call 04/15/45)		200		222,609
5.40%, 10/01/43		75		87,686
6.15%, 03/01/37		475		586,395
6.15%, 02/15/41^(b)		500		629,679
6.20%, 12/15/34		500		618,917
6.40%, 12/15/35		302		382,863
6.55%, 03/15/33		275		352,480
6.65%, 11/15/37		300		391,736
6.90%, 08/15/39		36		48,227
7.75%, 12/01/45		150		221,023
7.85%, 03/01/39		200		288,290
8.15%, 10/17/36		100		144,546
CBS Corp.
4.60%, 01/15/45 (Call 07/15/44)^(b)		145		133,821
4.85%, 07/01/42 (Call 01/01/42)		265		252,456
4.90%, 08/15/44 (Call 02/15/44)		310		293,861
5.50%, 05/15/33		150		158,759
5.90%, 10/15/40 (Call 04/15/40)		165		175,210
7.88%, 07/30/30^(b)		50		64,404
Charter Communications Operating LLC/Charter Communications Operating Capital
5.38%, 04/01/38 (Call 10/01/37)		150		144,608
5.38%, 05/01/47 (Call 11/01/46)		785		744,658
5.75%, 04/01/48 (Call 10/01/47)		730		729,844
6.38%, 10/23/35 (Call 04/23/35)		650		695,891
6.48%, 10/23/45 (Call 04/23/45)		1,065		1,145,376
6.83%, 10/23/55 (Call 04/23/55)		150		161,720


Security	Par (000)		Value

Media (continued)
Comcast Corp.
3.20%, 07/15/36 (Call 01/15/36)	$	375	$	328,061
3.40%, 07/15/46 (Call 01/15/46)		550		462,938
3.90%, 03/01/38 (Call 09/01/37)		225		211,494
3.97%, 11/01/47 (Call 05/01/47)		625		579,010
4.00%, 08/15/47 (Call 02/15/47)		50		46,389
4.00%, 03/01/48 (Call 09/01/47)		50		46,741
4.00%, 11/01/49 (Call 05/01/49)		780		725,274
4.05%, 11/01/52 (Call 05/01/52)		150		138,734
4.20%, 08/15/34 (Call 02/15/34)		480		483,110
4.25%, 10/15/30 (Call 07/15/30)		320		331,262
4.25%, 01/15/33^(b)		1,300		1,329,869
4.40%, 08/15/35 (Call 02/25/35)		455		456,124
4.50%, 01/15/43^(b)		200		201,576
4.60%, 10/15/38 (Call 04/15/38)		810		835,893
4.60%, 08/15/45 (Call 02/15/45)		670		676,366
4.65%, 07/15/42		375		380,764
4.70%, 10/15/48 (Call 04/15/48)		1,190		1,238,090
4.75%, 03/01/44		340		352,914
4.95%, 10/15/58 (Call 04/15/58)		765		805,480
5.65%, 06/15/35		111		125,883
6.40%, 05/15/38		62		75,939
6.45%, 03/15/37		175		215,462
6.50%, 11/15/35		435		532,867
6.55%, 07/01/39		25		31,207
6.95%, 08/15/37		150		191,747
7.05%, 03/15/33		161		209,160
Cox Communications Inc.
4.60%, 08/15/47 (Call 02/15/47)^(a)		75		68,104
8.38%, 03/01/39^(a)		650		821,216
Discovery Communications LLC
4.88%, 04/01/43		265		238,858
4.95%, 05/15/42		250		224,817
5.00%, 09/20/37 (Call 03/20/37)		260		245,802
5.20%, 09/20/47 (Call 03/20/47)		410		385,852
6.35%, 06/01/40		300		320,333
Fox Corp., 5.58%, 01/25/49 (Call 07/25/48)^(a)		665		701,130
Grupo Televisa SAB
5.00%, 05/13/45 (Call 11/13/44)		525		478,635
6.63%, 01/15/40		300		334,080
Historic TW Inc., 6.63%, 05/15/29		100		118,453
NBCUniversal Media LLC
4.45%, 01/15/43		325		322,132
5.95%, 04/01/41^(b)		700		823,608
Thomson Reuters Corp.
5.50%, 08/15/35		150		153,028
5.65%, 11/23/43 (Call 05/23/43)		125		133,268
5.85%, 04/15/40^(b)		250		270,205
Time Warner Cable LLC
4.50%, 09/15/42 (Call 03/15/42)		300		251,969
5.50%, 09/01/41 (Call 03/01/41)		400		378,414
5.88%, 11/15/40 (Call 05/15/40)		500		493,588
6.55%, 05/01/37		450		477,140
6.75%, 06/15/39		465		499,087
7.30%, 07/01/38		550		615,499
Time Warner Entertainment Co. LP, 8.38%, 07/15/33		151		191,260
Viacom Inc.
4.38%, 03/15/43		435		373,408
5.25%, 04/01/44 (Call 10/01/43)		250		241,584


Security	Par (000)		Value

Media (continued)
5.85%, 09/01/43 (Call 03/01/43)	$	225	$	234,703
6.88%, 04/30/36		350		395,411
Walt Disney Co. (The)
3.00%, 07/30/46		25		20,979
3.70%, 12/01/42		300		284,488
4.13%, 06/01/44^(b)		285		288,886
4.38%, 08/16/41		275		285,184
7.00%, 03/01/32		200		269,981
Series E, 4.13%, 12/01/41		200		201,593
Warner Media LLC
4.65%, 06/01/44 (Call 12/01/43)		235		214,454
4.85%, 07/15/45 (Call 01/15/45)		175		165,046
4.90%, 06/15/42^(b)		300		284,786
5.35%, 12/15/43		225		224,049
5.38%, 10/15/41		250		252,697
6.10%, 07/15/40		100		109,199
6.25%, 03/29/41^(b)		200		220,648
7.70%, 05/01/32		225		294,147

				32,892,060

Metal Fabricate & Hardware — 0.1%
Precision Castparts Corp.
3.90%, 01/15/43 (Call 07/15/42)^(b)		166		158,765
4.38%, 06/15/45 (Call 12/15/44)		86		89,218
Valmont Industries Inc.
5.00%, 10/01/44 (Call 04/01/44)		60		55,245
5.25%, 10/01/54 (Call 04/01/54)		50		44,560

				347,788

Mining — 1.6%
Barrick Gold Corp., 5.25%, 04/01/42		245		256,062
Barrick North America Finance LLC
5.70%, 05/30/41		275		301,183
5.75%, 05/01/43		300		332,357
7.50%, 09/15/38		35		43,575
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39		340		381,814
BHP Billiton Finance USA Ltd.
4.13%, 02/24/42^(b)		440		445,187
5.00%, 09/30/43		470		536,740
Corp. Nacional del Cobre de Chile
4.25%, 07/17/42^(a)		600		577,125
4.50%, 08/01/47 (Call 02/01/47)^(a)		800		800,348
Glencore Finance Canada Ltd., 5.55%, 10/25/42^(a)		200		192,900
Goldcorp Inc., 5.45%, 06/09/44 (Call 12/09/43)		251		261,758
Indonesia Asahan Aluminium Persero PT, 6.76%, 11/15/48^(a)		200		217,101
Newmont Mining Corp.
4.88%, 03/15/42 (Call 09/15/41)		150		149,680
5.88%, 04/01/35		125		138,875
6.25%, 10/01/39		450		516,671
Rio Tinto Alcan Inc.
5.75%, 06/01/35		111		128,451
6.13%, 12/15/33		161		197,080
7.25%, 03/15/31		275		355,064
Rio Tinto Finance USA Ltd., 5.20%, 11/02/40		385		441,956
Rio Tinto Finance USA PLC
4.13%, 08/21/42 (Call 02/21/42)		263		264,408
4.75%, 03/22/42 (Call 09/22/41)		230		251,251
Southern Copper Corp.
5.25%, 11/08/42		360		357,840
5.88%, 04/23/45		375		402,701


Security	Par (000)		Value

Mining (continued)
6.75%, 04/16/40	$	450	$	521,437
7.50%, 07/27/35		335		410,878
Teck Resources Ltd.
6.00%, 08/15/40 (Call 02/15/40)		250		255,575
6.25%, 07/15/41 (Call 01/15/41)		500		521,750
Vale Canada Ltd., 7.20%, 09/15/32		100		104,500

				9,364,267

Oil & Gas — 7.8%
Anadarko Finance Co., Series B, 7.50%, 05/01/31		340		413,638
Anadarko Petroleum Corp.
4.50%, 07/15/44 (Call 01/15/44)		355		321,131
6.20%, 03/15/40		285		312,854
6.45%, 09/15/36		345		388,234
6.60%, 03/15/46 (Call 09/15/45)		485		575,487
Apache Corp.
4.25%, 01/15/44 (Call 07/15/43)		390		333,736
4.75%, 04/15/43 (Call 10/15/42)		360		327,282
5.10%, 09/01/40 (Call 03/01/40)		365		348,296
5.25%, 02/01/42 (Call 08/01/41)		135		130,449
6.00%, 01/15/37		322		333,796
7.75%, 12/15/29		165		195,056
BP Capital Markets PLC, 3.72%, 11/28/28 (Call 08/28/28)^(b)		250		254,488
Canadian Natural Resources Ltd.
4.95%, 06/01/47 (Call 12/01/46)		425		442,463
5.85%, 02/01/35		150		163,930
6.25%, 03/15/38		190		217,946
6.45%, 06/30/33		200		232,036
6.50%, 02/15/37		50		57,604
6.75%, 02/01/39		25		29,930
7.20%, 01/15/32		200		243,443
Cenovus Energy Inc.
4.45%, 09/15/42 (Call 03/15/42)		75		62,569
5.25%, 06/15/37 (Call 12/15/36)		325		302,549
5.40%, 06/15/47 (Call 12/15/46)		510		478,707
6.75%, 11/15/39		425		448,795
CNOOC Finance 2013 Ltd., 4.25%, 05/09/43		400		390,010
CNOOC Nexen Finance 2014 ULC, 4.88%, 04/30/44		400		433,022
Concho Resources Inc., 4.88%, 10/01/47 (Call 04/01/47)^(b)		535		537,205
Conoco Funding Co., 7.25%, 10/15/31		250		328,674
ConocoPhillips
5.90%, 10/15/32		263		316,053
5.90%, 05/15/38		210		254,861
6.50%, 02/01/39		725		948,119
ConocoPhillips Canada Funding Co. I
5.95%, 10/15/36		100		120,565
7.20%, 08/15/31		300		392,610
7.40%, 12/01/31		295		393,191
ConocoPhillips Co.
4.30%, 11/15/44 (Call 05/15/44)		200		205,419
5.95%, 03/15/46 (Call 09/15/45)		175		221,858
ConocoPhillips Holding Co., 6.95%, 04/15/29		600		762,172
Devon Energy Corp.
4.75%, 05/15/42 (Call 11/15/41)		278		271,020
5.00%, 06/15/45 (Call 12/15/44)		250		254,794
5.60%, 07/15/41 (Call 01/15/41)		435		470,703
Ecopetrol SA
5.88%, 05/28/45		450		453,735
7.38%, 09/18/43		375		438,750
Empresa Nacional del Petroleo, 4.50%, 09/14/47 (Call 03/14/47)^(a)		400		366,600


Security	Par (000)		Value

Oil & Gas (continued)
Encana Corp.
6.50%, 08/15/34	$	250	$	285,569
6.50%, 02/01/38		350		388,750
6.63%, 08/15/37		80		91,014
7.20%, 11/01/31		100		116,516
8.13%, 09/15/30		50		61,470
EOG Resources Inc.
3.90%, 04/01/35 (Call 10/01/34)		300		292,965
5.10%, 01/15/36 (Call 07/15/35)		125		134,820
Equinor ASA
3.95%, 05/15/43		225		221,849
4.25%, 11/23/41		275		281,084
4.80%, 11/08/43		275		304,273
5.10%, 08/17/40		150		170,426
Exxon Mobil Corp.
3.57%, 03/06/45 (Call 09/06/44)		250		239,108
4.11%, 03/01/46 (Call 09/01/45)^(b)		925		962,975
Gazprom OAO Via Gaz Capital SA, 7.29%, 08/16/37^(a)		800		918,000
Hess Corp.
5.60%, 02/15/41		475		461,219
5.80%, 04/01/47 (Call 10/01/46)		50		49,849
6.00%, 01/15/40		250		250,993
7.13%, 03/15/33		225		253,526
7.30%, 08/15/31		420		478,820
KazMunayGas National Co. JSC, 6.38%, 10/24/48^(a)		600		648,600
Kerr-McGee Corp., 7.88%, 09/15/31		14		17,318
Marathon Oil Corp.
5.20%, 06/01/45 (Call 12/01/44)		250		257,192
6.60%, 10/01/37		150		173,035
6.80%, 03/15/32		166		189,695
Marathon Petroleum Corp.
4.50%, 04/01/48 (Call 10/01/47)^(a)		200		183,165
4.75%, 09/15/44 (Call 03/15/44)		265		253,969
5.00%, 09/15/54 (Call 03/15/54)		240		222,038
5.85%, 12/15/45 (Call 06/15/45)		50		51,254
6.50%, 03/01/41 (Call 09/01/40)		285		329,085
Motiva Enterprises LLC, 6.85%, 01/15/40^(a)		300		317,921
Nexen Inc.
5.88%, 03/10/35		250		290,819
6.40%, 05/15/37		250		309,484
7.50%, 07/30/39		385		538,016
7.88%, 03/15/32		160		217,606
Noble Energy Inc.
4.95%, 08/15/47 (Call 02/15/47)^(b)		50		46,783
5.05%, 11/15/44 (Call 05/15/44)		285		267,050
5.25%, 11/15/43 (Call 05/15/43)		300		281,950
6.00%, 03/01/41 (Call 09/01/40)		400		415,277
Occidental Petroleum Corp.
4.10%, 02/15/47 (Call 08/15/46)^(b)		400		391,482
4.20%, 03/15/48 (Call 09/15/47)		175		175,346
4.40%, 04/15/46 (Call 10/15/45)		275		281,539
4.63%, 06/15/45 (Call 12/15/44)		350		367,846
Pertamina Persero PT
6.45%, 05/30/44^(a)		1,400		1,552,250
6.50%, 11/07/48^(a)		200		221,959
Petro-Canada
5.35%, 07/15/33		125		133,238
5.95%, 05/15/35		111		124,842
6.80%, 05/15/38		510		628,143


Security	Par (000)		Value

Oil & Gas (continued)
Petroleos del Peru SA
4.75%, 06/19/32^(a)	$	600	$	591,000
5.63%, 06/19/47^(a)		200		203,250
Petroleos Mexicanos
5.50%, 06/27/44		700		549,290
5.63%, 01/23/46		865		676,862
6.35%, 02/12/48		50		41,420
6.38%, 01/23/45		1,150		967,150
6.50%, 06/02/41		1,050		910,875
6.63%, 06/15/35		900		814,500
6.63%, 06/15/38		200		176,700
6.75%, 09/21/47		1,880		1,629,960
Petronas Capital Ltd., 4.50%, 03/18/45^(a)		400		420,525
Phillips 66
4.65%, 11/15/34 (Call 05/15/34)		410		424,083
4.88%, 11/15/44 (Call 05/15/44)		550		572,947
5.88%, 05/01/42^(b)		440		510,175
Shell International Finance BV
3.75%, 09/12/46^(b)		200		190,812
4.00%, 05/10/46		725		724,206
4.13%, 05/11/35^(b)		525		541,879
4.38%, 05/11/45		975		1,025,476
4.55%, 08/12/43		575		615,403
5.50%, 03/25/40		300		358,690
6.38%, 12/15/38		875		1,143,388
Sinopec Group Overseas Development 2012 Ltd.,
4.88%, 05/17/42^(a)		700		744,579
Sinopec Group Overseas Development 2018 Ltd.,
4.60%, 09/12/48^(a)		500		521,105
Suncor Energy Inc.
5.95%, 12/01/34		25		28,436
6.50%, 06/15/38		415		500,664
6.85%, 06/01/39^(b)		455		570,766
Tosco Corp., 8.13%, 02/15/30		61		82,491
Valero Energy Corp.
4.90%, 03/15/45		275		279,967
6.63%, 06/15/37		520		615,544
7.50%, 04/15/32		395		491,280

				45,947,331

Oil & Gas Services — 0.5%
Baker Hughes a GE Co. LLC, 5.13%, 09/15/40^(b)		400		405,615
Baker Hughes a GE Co. LLC/Baker Hughes Co-Obligor Inc., 4.08%, 12/15/47 (Call 06/15/47)		400		352,929
Halliburton Co.
4.50%, 11/15/41 (Call 05/15/41)		200		191,959
4.75%, 08/01/43 (Call 02/01/43)^(b)		350		350,504
4.85%, 11/15/35 (Call 05/15/35)		200		202,596
5.00%, 11/15/45 (Call 05/15/45)		660		678,582
6.70%, 09/15/38		21		25,571
7.45%, 09/15/39		360		472,205
National Oilwell Varco Inc., 3.95%, 12/01/42 (Call 06/01/42)		425		346,826

				3,026,787

Packaging & Containers — 0.1%
Sonoco Products Co., 5.75%, 11/01/40 (Call 05/01/40)		128		138,689
WestRock MWV LLC
7.95%, 02/15/31		101		127,945
8.20%, 01/15/30		175		225,162
WRKCo Inc., 4.90%, 03/15/29 (Call 12/15/28)		50		52,519

				544,315


Security	Par (000)		Value

Pharmaceuticals — 5.7%
AbbVie Inc.
4.30%, 05/14/36 (Call 11/14/35)	$	315	$	287,310
4.40%, 11/06/42		725		643,753
4.45%, 05/14/46 (Call 11/14/45)		575		505,037
4.50%, 05/14/35 (Call 11/14/34)		750		701,255
4.70%, 05/14/45 (Call 11/14/44)		1,100		1,007,653
4.88%, 11/14/48 (Call 05/14/48)^(b)		355		333,444
Allergan Finance LLC, 4.63%, 10/01/42 (Call 04/01/42)		60		54,131
Allergan Funding SCS
4.55%, 03/15/35 (Call 09/15/34)		550		512,990
4.75%, 03/15/45 (Call 09/15/44)^(b)		400		369,196
4.85%, 06/15/44 (Call 12/15/43)^(b)		385		355,893
AmerisourceBergen Corp.
4.25%, 03/01/45 (Call 09/01/44)		200		173,842
4.30%, 12/15/47 (Call 06/15/47)^(b)		240		209,310
AstraZeneca PLC 4.00%, 09/18/42		395		362,134
4.38%, 11/16/45		405		391,627
4.38%, 08/17/48 (Call 02/17/48)^(b)		295		285,333
6.45%, 09/15/37		705		859,365
Bayer U.S. Finance II LLC
4.20%, 07/15/34 (Call 01/15/34)^(a)		350		312,092
4.38%, 12/15/28 (Call 09/15/28)^(a)		1,500		1,460,710
4.40%, 07/15/44 (Call 01/15/44)^(a)		275		232,201
4.65%, 11/15/43 (Call 05/15/43)^(a)		74		64,405
4.70%, 07/15/64 (Call 01/15/64)^(a)		200		157,580
4.88%, 06/25/48 (Call 12/25/47)^(a)		275		250,490
Bristol-Myers Squibb Co.
3.25%, 08/01/42^(b)		49		39,857
4.50%, 03/01/44 (Call 09/01/43)		290		288,318
Cardinal Health Inc.
4.37%, 06/15/47 (Call 12/15/46)		250		215,800
4.50%, 11/15/44 (Call 05/15/44)		195		167,342
4.60%, 03/15/43		200		175,644
Cigna Corp.
4.80%, 08/15/38 (Call 02/15/38)^(a)		600		596,175
4.90%, 12/15/48 (Call 06/15/48)^(a)		735		727,049
CVS Health Corp.
4.78%, 03/25/38 (Call 09/25/37)		1,460		1,416,829
4.88%, 07/20/35 (Call 01/20/35)		300		295,826
5.05%, 03/25/48 (Call 09/25/47)		2,495		2,467,077
5.13%, 07/20/45 (Call 01/20/45)		1,010		997,810
5.30%, 12/05/43 (Call 06/05/43)		273		276,076
Eli Lilly & Co.
3.70%, 03/01/45 (Call 09/01/44)		165		156,782
3.95%, 05/15/47 (Call 11/15/46)^(b)		230		226,427
3.95%, 03/15/49 (Call 09/15/48)		225		220,311
4.15%, 03/15/59 (Call 09/15/58)		500		487,617
5.55%, 03/15/37^(b)		166		195,985
Express Scripts Holding Co.
4.80%, 07/15/46 (Call 01/15/46)		625		614,362
6.13%, 11/15/41		165		185,646
GlaxoSmithKline Capital Inc.
4.20%, 03/18/43^(b)		185		187,796
5.38%, 04/15/34		200		230,580
6.38%, 05/15/38		850		1,074,929
Johnson & Johnson
3.40%, 01/15/38 (Call 07/15/37)		100		95,226
3.50%, 01/15/48 (Call 07/15/47)		300		280,872
3.55%, 03/01/36 (Call 09/01/35)		375		364,427


Security	Par (000)		Value

Pharmaceuticals (continued)
3.63%, 03/03/37 (Call 09/03/36)	$	405	$	395,056
3.70%, 03/01/46 (Call 09/01/45)^(b)		500		485,805
3.75%, 03/03/47 (Call 09/03/46)		375		367,445
4.38%, 12/05/33 (Call 06/05/33)		350		375,413
4.50%, 09/01/40		100		108,344
4.50%, 12/05/43 (Call 06/05/43)^(b)		200		216,928
4.85%, 05/15/41		186		210,047
4.95%, 05/15/33		311		355,060
5.85%, 07/15/38		100		125,781
5.95%, 08/15/37		400		504,054
McKesson Corp., 4.75%, 05/30/29 (Call 02/28/29)		50		51,271
Mead Johnson Nutrition Co.
4.60%, 06/01/44 (Call 12/01/43)		153		157,332
5.90%, 11/01/39		175		208,958
Merck & Co. Inc.
3.60%, 09/15/42 (Call 03/15/42)		350		329,414
3.70%, 02/10/45 (Call 08/10/44)^(b)		625		594,853
4.15%, 05/18/43		500		511,274
6.55%, 09/15/37		75		98,917
Merck Sharp & Dohme Corp., 5.75%, 11/15/36		25		30,294
Mylan Inc., 5.40%, 11/29/43 (Call 05/29/43)		375		331,255
Mylan NV, 5.25%, 06/15/46 (Call 12/15/45)^(b)		300		258,845
Novartis Capital Corp.
3.70%, 09/21/42^(b)		200		192,365
4.00%, 11/20/45 (Call 05/20/45)^(b)		410		410,652
4.40%, 05/06/44		325		345,906
Perrigo Finance Unlimited Co., 4.90%, 12/15/44
(Call 06/15/44)		50		40,157
Pfizer Inc.
4.00%, 12/15/36		360		363,410
4.13%, 12/15/46		500		508,676
4.30%, 06/15/43		300		310,544
4.40%, 05/15/44		425		446,436
5.60%, 09/15/40		100		119,228
7.20%, 03/15/39		925		1,305,135
Wyeth LLC
5.95%, 04/01/37		750		925,749
6.00%, 02/15/36		146		179,934
6.50%, 02/01/34		143		184,961
Zoetis Inc.
3.95%, 09/12/47 (Call 03/12/47)		325		294,962
4.45%, 08/20/48 (Call 02/20/48)		25		24,706
4.70%, 02/01/43 (Call 08/01/42)		425		433,344

				33,317,025

Pipelines — 4.8%
Abu Dhabi Crude Oil Pipeline LLC, 4.60%, 11/02/47^(a)		800		808,000
Buckeye Partners LP
5.60%, 10/15/44 (Call 04/15/44)		160		147,618
5.85%, 11/15/43 (Call 05/15/43)		140		131,757
Columbia Pipeline Group Inc., 5.80%, 06/01/45 (Call 12/01/44)^(b)		295		319,966
Enable Midstream Partners LP, 5.00%, 05/15/44 (Call 11/15/43)		125		107,544
Enbridge Energy Partners LP
5.50%, 09/15/40 (Call 03/15/40)		200		217,236
7.38%, 10/15/45 (Call 04/15/45)		50		67,365
Series B, 7.50%, 04/15/38		200		260,335
Enbridge Inc.
4.50%, 06/10/44 (Call 12/10/43)		295		288,632
5.50%, 12/01/46 (Call 05/29/46)^(b)		170		193,829


Security	Par (000)		Value

Pipelines (continued)
Energy Transfer Operating LP
4.90%, 03/15/35 (Call 09/15/34)	$	200	$	186,474
5.15%, 02/01/43 (Call 08/01/42)		200		183,605
5.15%, 03/15/45 (Call 09/15/44)		250		232,096
5.30%, 04/15/47 (Call 10/15/46)		325		306,425
5.95%, 10/01/43 (Call 04/01/43)		15		15,017
6.05%, 06/01/41 (Call 12/01/40)		50		50,935
6.13%, 12/15/45 (Call 06/15/45)		400		416,915
6.25%, 04/15/49 (Call 10/15/48)		600		643,888
6.50%, 02/01/42 (Call 08/01/41)		285		308,718
6.63%, 10/15/36		180		194,209
7.50%, 07/01/38		290		340,533
Series 30Y, 6.00%, 06/15/48 (Call 12/15/47)		15		15,522
Enterprise Products Operating LLC
4.25%, 02/15/48 (Call 08/15/47)		300		280,988
4.45%, 02/15/43 (Call 08/15/42)		350		337,961
4.85%, 08/15/42 (Call 02/15/42)		315		321,899
4.85%, 03/15/44 (Call 09/15/43)		600		613,596
4.90%, 05/15/46 (Call 11/15/45)		435		447,325
4.95%, 10/15/54 (Call 04/15/54)		200		200,639
5.10%, 02/15/45 (Call 08/15/44)		425		447,896
5.70%, 02/15/42		265		295,372
5.95%, 02/01/41		285		326,145
6.13%, 10/15/39		250		291,147
7.55%, 04/15/38		150		196,746
Series D, 6.88%, 03/01/33		200		243,930
Series H, 6.65%, 10/15/34		141		172,178
EQM Midstream Partners LP, Series 30Y, 6.50%, 07/15/48 (Call 01/15/48)		275		273,529
GNL Quintero SA, 4.63%, 07/31/29^(a)(b)		450		453,937
Kinder Morgan Energy Partners LP
4.70%, 11/01/42 (Call 05/01/42)		250		235,031
5.00%, 08/15/42 (Call 02/15/42)		375		366,826
5.00%, 03/01/43 (Call 09/01/42)		300		293,207
5.40%, 09/01/44 (Call 03/01/44)		250		255,245
5.50%, 03/01/44 (Call 09/01/43)		305		315,068
5.80%, 03/15/35		300		319,390
6.38%, 03/01/41		230		260,268
6.55%, 09/15/40		100		114,729
6.95%, 01/15/38		400		478,285
7.30%, 08/15/33		36		43,991
7.40%, 03/15/31		118		142,735
7.50%, 11/15/40		95		117,671
7.75%, 03/15/32		100		125,906
Kinder Morgan Inc./DE
5.05%, 02/15/46 (Call 08/15/45)		385		381,173
5.20%, 03/01/48 (Call 09/01/47)		185		187,707
5.30%, 12/01/34 (Call 06/01/34)		315		324,879
5.55%, 06/01/45 (Call 12/01/44)		465		487,965
7.75%, 01/15/32		395		495,970
Magellan Midstream Partners LP
4.20%, 10/03/47 (Call 04/03/47)		210		191,714
4.25%, 09/15/46 (Call 03/15/46)^(b)		200		185,874
4.85%, 02/01/49 (Call 08/01/48)		100		101,562
5.15%, 10/15/43 (Call 04/15/43)		250		258,724
MPLX LP
4.50%, 04/15/38 (Call 10/15/37)		745		686,493
4.70%, 04/15/48 (Call 10/15/47)		485		444,691
4.80%, 02/15/29 (Call 11/15/28)		50		51,213
4.90%, 04/15/58 (Call 10/15/57)		60		53,357


Security	Par (000)		Value

Pipelines (continued)
5.20%, 03/01/47 (Call 09/01/46)	$	425	$	414,452
5.50%, 02/15/49 (Call 08/15/48)		325		332,233
ONEOK Inc., 4.95%, 07/13/47 (Call 01/06/47)		250		240,752
ONEOK Partners LP 6.13%, 02/01/41 (Call 08/01/40)		225		239,994
6.20%, 09/15/43 (Call 03/15/43)		125		134,089
6.65%, 10/01/36		210		233,180
6.85%, 10/15/37		300		347,543
Phillips 66 Partners LP
4.68%, 02/15/45 (Call 08/15/44)^(b)		75		71,317
4.90%, 10/01/46 (Call 04/01/46)		250		247,205
Plains All American Pipeline LP/PAA Finance Corp.
4.30%, 01/31/43 (Call 07/31/42)		90		74,885
4.70%, 06/15/44 (Call 12/15/43)		250		220,655
4.90%, 02/15/45 (Call 08/15/44)		350		321,187
5.15%, 06/01/42 (Call 12/01/41)		60		55,725
6.65%, 01/15/37		225		245,963
Southern Natural Gas Co. LLC, 8.00%, 03/01/32		50		64,392
Spectra Energy Partners LP
4.50%, 03/15/45 (Call 09/15/44)		190		185,493
5.95%, 09/25/43 (Call 03/25/43)		150		165,767
Sunoco Logistics Partners Operations LP 4.95%, 01/15/43 (Call 07/15/42)		250		223,254
5.30%, 04/01/44 (Call 10/01/43)		275		257,555
5.35%, 05/15/45 (Call 11/15/44)		100		94,133
5.40%, 10/01/47 (Call 04/01/47)		835		801,178
6.10%, 02/15/42		175		179,086
Texas Eastern Transmission LP, 7.00%, 07/15/32		200		242,590
TransCanada PipeLines Ltd.
4.63%, 03/01/34 (Call 12/01/33)		350		356,258
4.75%, 05/15/38 (Call 11/15/37)^(b)		100		100,982
4.88%, 05/15/48 (Call 11/15/47)		525		528,793
5.00%, 10/16/43 (Call 04/16/43)		400		403,879
5.60%, 03/31/34		200		219,590
5.85%, 03/15/36		100		110,213
6.10%, 06/01/40		279		323,134
6.20%, 10/15/37		200		229,848
7.25%, 08/15/38		325		413,491
7.63%, 01/15/39		300		395,687
Transcontinental Gas Pipe Line Co. LLC
4.45%, 08/01/42 (Call 02/01/42)		300		281,907
4.60%, 03/15/48 (Call 09/15/47)		475		452,660
5.40%, 08/15/41 (Call 02/15/41)		151		157,194
Western Midstream Operating LP
5.45%, 04/01/44 (Call 10/01/43)		350		322,294
5.50%, 08/15/48 (Call 02/15/48)		160		150,027
Williams Companies Inc. (The)
4.90%, 01/15/45 (Call 07/15/44)		225		216,587
5.10%, 09/15/45 (Call 03/15/45)		305		302,026
5.40%, 03/04/44 (Call 09/04/43)		175		177,014
5.80%, 11/15/43 (Call 05/15/43)		50		53,237
6.30%, 04/15/40		405		456,555

				28,303,585

Private Equity — 0.0%
Apollo Management Holdings LP, 5.00%, 03/15/48 (Call 09/15/47)^(a)		75		69,282
Carlyle Finance LLC, 5.65%, 09/15/48 (Call 03/15/48)^(a)(b)		250		242,754

				312,036


Security	Par (000)		Value

Real Estate — 0.0%
WEA Finance LLC, 4.63%, 09/20/48 (Call 03/20/48)^(a)	$	100	$	100,842


Real Estate Investment Trusts — 1.0%
Alexandria Real Estate Equities Inc., 4.70%, 07/01/30 (Call 04/01/30)		425		439,288
AvalonBay Communities Inc.
3.90%, 10/15/46 (Call 04/15/46)		195		182,144
4.15%, 07/01/47 (Call 01/01/47)		150		147,027
Crown Castle International Corp., 5.20%, 02/15/49 (Call 08/15/48)		85		84,758
ERP Operating LP
4.50%, 07/01/44 (Call 01/01/44)		100		103,266
4.50%, 06/01/45 (Call 12/01/44)		315		325,708
Essex Portfolio LP, 4.50%, 03/15/48 (Call 09/15/47)		100		97,771
Federal Realty Investment Trust
3.63%, 08/01/46 (Call 02/01/46)		125		109,109
4.50%, 12/01/44 (Call 06/01/44)		197		199,659
HCP Inc., 6.75%, 02/01/41 (Call 08/01/40)		150		185,378
Kilroy Realty LP, 4.25%, 08/15/29 (Call 05/15/29)		129		127,923
Kimco Realty Corp.
4.25%, 04/01/45 (Call 10/01/44)		250		228,468
4.45%, 09/01/47 (Call 03/01/47)		190		178,903
Realty Income Corp., 4.65%, 03/15/47 (Call 09/15/46)		180		187,893
Regency Centers LP
4.40%, 02/01/47 (Call 08/01/46)		200		190,705
4.65%, 03/15/49 (Call 09/15/48)		150		148,148
Simon Property Group LP
4.25%, 10/01/44 (Call 04/01/44)		14		13,881
4.25%, 11/30/46 (Call 05/30/46)		135		134,299
4.75%, 03/15/42 (Call 09/15/41)^(b)		185		196,619
6.75%, 02/01/40 (Call 11/01/39)		295		384,125
Trust F/1401, 6.95%, 01/30/44 (Call 07/30/43)^(a)(b)		200		201,975
Ventas Realty LP
4.38%, 02/01/45 (Call 08/01/44)^(b)		177		163,918
4.40%, 01/15/29 (Call 10/15/28)		300		305,852
4.88%, 04/15/49 (Call 10/15/48)		65		64,697
5.70%, 09/30/43 (Call 03/30/43)		26		28,787
Welltower Inc.
4.95%, 09/01/48 (Call 03/01/48)		250		253,935
6.50%, 03/15/41 (Call 09/15/40)		165		194,769
Weyerhaeuser Co., 7.38%, 03/15/32		600		757,102

				5,636,107

Retail — 2.7%
Darden Restaurants Inc., 4.55%, 02/15/48 (Call 08/15/47)		95		86,837
Home Depot Inc. (The)
3.50%, 09/15/56 (Call 03/15/56)		345		304,041
3.90%, 06/15/47 (Call 12/15/46)^(b)		170		164,033
4.20%, 04/01/43 (Call 10/01/42)		150		151,136
4.25%, 04/01/46 (Call 10/01/45)		500		508,929
4.40%, 03/15/45 (Call 09/15/44)		375		388,693
4.50%, 12/06/48 (Call 06/06/48)		375		396,649
4.88%, 02/15/44 (Call 08/15/43)		450		496,290
5.40%, 09/15/40 (Call 03/15/40)		121		140,798
5.88%, 12/16/36		675		819,425
5.95%, 04/01/41 (Call 10/01/40)		450		556,954
Kohl’s Corp., 5.55%, 07/17/45 (Call 01/17/45)		160		144,511
Lowe’s Companies Inc.
3.70%, 04/15/46 (Call 10/15/45)^(b)		475		402,215
4.05%, 05/03/47 (Call 11/03/46)^(b)		395		352,761
4.25%, 09/15/44 (Call 03/15/44)		175		161,150


Security	Par (000)		Value

Retail (continued)
4.38%, 09/15/45 (Call 03/15/45)	$	285	$	264,216
4.65%, 04/15/42 (Call 10/15/41)		225		217,548
Macy’s Retail Holdings Inc.
4.30%, 02/15/43 (Call 08/15/42)		100		73,173
4.50%, 12/15/34 (Call 06/15/34)		22		18,146
5.13%, 01/15/42 (Call 07/15/41)		105		86,731
McDonald’s Corp.
3.63%, 05/01/43		11		9,546
3.70%, 02/15/42		355		315,315
4.45%, 03/01/47 (Call 09/01/46)		180		175,187
4.45%, 09/01/48 (Call 03/01/48)		80		77,828
4.60%, 05/26/45 (Call 11/26/44)		300		296,608
4.70%, 12/09/35 (Call 06/09/35)		195		200,631
4.88%, 07/15/40		6		6,164
4.88%, 12/09/45 (Call 06/09/45)		400		412,465
5.70%, 02/01/39		255		288,422
6.30%, 10/15/37		375		449,219
6.30%, 03/01/38		275		326,807
Nordstrom Inc., 5.00%, 01/15/44 (Call 07/15/43)		210		179,683
Starbucks Corp.
3.75%, 12/01/47 (Call 06/01/47)		150		128,486
4.30%, 06/15/45 (Call 12/10/44)		190		178,695
4.50%, 11/15/48 (Call 05/15/48)		275		265,155
Target Corp.
3.63%, 04/15/46		575		517,220
3.90%, 11/15/47 (Call 05/15/47)		269		253,440
4.00%, 07/01/42		500		484,675
Tiffany & Co., 4.90%, 10/01/44 (Call 04/01/44)^(b)		125		109,203
Walgreen Co., 4.40%, 09/15/42		250		224,714
Walgreens Boots Alliance Inc.
4.50%, 11/18/34 (Call 05/18/34)		305		295,248
4.65%, 06/01/46 (Call 12/01/45)		200		186,394
4.80%, 11/18/44 (Call 05/18/44)		315		294,167
Walmart Inc.
3.63%, 12/15/47 (Call 06/15/47)		150		140,488
3.95%, 06/28/38 (Call 12/28/37)		790		792,048
4.00%, 04/11/43 (Call 10/11/42)		435		432,994
4.05%, 06/29/48 (Call 12/29/47)		1,050		1,059,127
4.30%, 04/22/44 (Call 10/22/43)		250		261,278
4.75%, 10/02/43 (Call 04/02/43)		175		190,312
5.00%, 10/25/40		100		113,483
5.25%, 09/01/35		420		490,849
5.63%, 04/01/40		135		163,636
5.63%, 04/15/41		450		548,185
6.20%, 04/15/38		60		76,474
6.50%, 08/15/37^(b)		100		130,734

				15,809,116

Semiconductors — 0.8%
Analog Devices Inc.
4.50%, 12/05/36 (Call 06/05/36)		50		47,470
5.30%, 12/15/45 (Call 06/15/45)		135		141,274
Applied Materials Inc.
4.35%, 04/01/47 (Call 10/01/46)^(b)		160		160,364
5.10%, 10/01/35 (Call 04/01/35)		200		219,392
5.85%, 06/15/41		320		383,703
Intel Corp.
3.73%, 12/08/47 (Call 06/08/47)		550		523,355
4.00%, 12/15/32		375		397,742
4.10%, 05/19/46 (Call 11/19/45)		660		659,921
4.10%, 05/11/47 (Call 11/11/46)		175		176,218


Security	Par (000)		Value

Semiconductors (continued)
4.80%, 10/01/41^(b)	$	100	$	111,478
4.90%, 07/29/45 (Call 01/29/45)		60		67,609
KLA-Tencor Corp., 5.65%, 11/01/34 (Call 07/01/34)		125		127,117
QUALCOMM Inc.
4.30%, 05/20/47 (Call 11/20/46)		455		408,164
4.65%, 05/20/35 (Call 11/20/34)		400		391,196
4.80%, 05/20/45 (Call 11/20/44)		410		394,710
Texas Instruments Inc., 4.15%, 05/15/48 (Call 11/15/47)^(b)		350		356,877

				4,566,590

Software — 2.8%
Activision Blizzard Inc., 4.50%, 06/15/47 (Call 12/15/46)		175		155,516
Fidelity National Information Services Inc., 4.50%, 08/15/46 (Call 02/15/46)		250		227,097
Microsoft Corp.
3.45%, 08/08/36 (Call 02/08/36)		725		703,679
3.50%, 02/12/35 (Call 08/12/34)		550		537,956
3.50%, 11/15/42		250		235,709
3.70%, 08/08/46 (Call 02/08/46)		675		658,755
3.75%, 05/01/43 (Call 11/01/42)		250		244,466
3.75%, 02/12/45 (Call 08/12/44)		635		622,967
3.95%, 08/08/56 (Call 02/08/56)		690		677,245
4.00%, 02/12/55 (Call 08/12/54)		725		718,795
4.10%, 02/06/37 (Call 08/06/36)		550		575,244
4.20%, 11/03/35 (Call 05/03/35)		425		449,785
4.45%, 11/03/45 (Call 05/03/45)^(b)		925		1,007,171
4.50%, 10/01/40		475		517,003
4.50%, 02/06/57 (Call 08/06/56)		700		767,540
4.75%, 11/03/55 (Call 05/03/55)		285		322,481
4.88%, 12/15/43 (Call 06/15/43)		300		339,491
5.20%, 06/01/39		222		262,111
5.30%, 02/08/41		475		569,219
Series 30Y, 4.25%, 02/06/47 (Call 08/06/46)^(b)		700		742,812
Oracle Corp.
3.25%, 05/15/30 (Call 02/15/30)		350		335,882
3.80%, 11/15/37 (Call 05/15/37)		725		695,192
3.85%, 07/15/36 (Call 01/15/36)		375		363,316
3.90%, 05/15/35 (Call 11/15/34)		525		515,049
4.00%, 07/15/46 (Call 01/15/46)		800		765,121
4.00%, 11/15/47 (Call 05/15/47)		625		595,173
4.13%, 05/15/45 (Call 11/15/44)		555		538,907
4.30%, 07/08/34 (Call 01/08/34)		650		675,729
4.38%, 05/15/55 (Call 11/15/54)		389		387,763
4.50%, 07/08/44 (Call 01/08/44)^(b)		325		336,308
5.38%, 07/15/40		550		627,851
6.13%, 07/08/39		325		401,813
6.50%, 04/15/38		90		115,218

				16,688,364

Telecommunications — 7.4%
America Movil SAB de CV
4.38%, 07/16/42		443		442,889
6.13%, 11/15/37		125		148,086
6.13%, 03/30/40		685		828,138
6.38%, 03/01/35		165		198,532
AT&T Inc.
4.30%, 02/15/30 (Call 11/15/29)		1,285		1,261,476
4.30%, 12/15/42 (Call 06/15/42)		535		468,550
4.35%, 06/15/45 (Call 12/15/44)		765		666,372
4.50%, 05/15/35 (Call 11/15/34)		900		847,770
4.50%, 03/09/48 (Call 09/09/47)		1,135		1,008,831


Security	Par (000)		Value

Telecommunications (continued)
4.55%, 03/09/49 (Call 09/09/48)	$	710	$	635,219
4.75%, 05/15/46 (Call 11/15/45)^(b)		1,175		1,090,866
4.80%, 06/15/44 (Call 12/15/43)		800		750,948
4.85%, 03/01/39 (Call 09/01/38)		100		95,549
4.90%, 08/15/37 (Call 02/14/37)		25		24,109
5.15%, 03/15/42		460		447,902
5.15%, 11/15/46 (Call 05/15/46)		575		561,187
5.15%, 02/15/50 (Call 08/14/49)^(b)		1,165		1,128,236
5.25%, 03/01/37 (Call 09/01/36)		1,005		1,012,044
5.30%, 08/15/58 (Call 02/14/58)		500		474,468
5.35%, 09/01/40		650		652,019
5.45%, 03/01/47 (Call 09/01/46)^(b)		775		787,648
5.55%, 08/15/41		150		153,589
5.65%, 02/15/47 (Call 08/15/46)		525		545,976
5.70%, 03/01/57 (Call 09/01/56)		335		341,547
6.00%, 08/15/40 (Call 05/15/40)		300		322,330
6.15%, 09/15/34		50		54,675
6.30%, 01/15/38^(b)		25		27,884
6.35%, 03/15/40		225		248,020
6.38%, 03/01/41		375		416,032
6.45%, 06/15/34		25		26,641
AT&T Mobility LLC, 7.13%, 12/15/31		25		29,114
Bell Canada Inc., 4.46%, 04/01/48 (Call 10/01/47)		525		524,799
British Telecommunications PLC, 9.63%, 12/15/30		925		1,292,216
Cisco Systems Inc.
5.50%, 01/15/40		600		733,784
5.90%, 02/15/39		610		779,164
Deutsche Telekom International Finance BV
4.75%, 06/21/38 (Call 12/21/37)^(a)(b)		275		270,534
8.75%, 06/15/30		1,175		1,575,333
9.25%, 06/01/32		219		312,016
Juniper Networks Inc., 5.95%, 03/15/41		175		168,920
Koninklijke KPN NV, 8.38%, 10/01/30		390		469,645
Motorola Solutions Inc., 5.50%, 09/01/44		230		222,714
Orange SA
5.38%, 01/13/42		200		216,683
5.50%, 02/06/44 (Call 08/06/43)		225		247,486
9.00%, 03/01/31		675		946,701
Rogers Communications Inc.
4.30%, 02/15/48 (Call 08/15/47)		450		434,768
4.50%, 03/15/43 (Call 09/15/42)		150		147,821
5.00%, 03/15/44 (Call 09/15/43)		350		370,771
5.45%, 10/01/43 (Call 04/01/43)		56		61,752
7.50%, 08/15/38		150		197,859
Telefonica Emisiones SAU
4.67%, 03/06/38		250		228,876
4.90%, 03/06/48^(b)		400		368,240
5.21%, 03/08/47		525		502,840
5.52%, 03/01/49 (Call 09/01/48)		150		149,775
7.05%, 06/20/36		600		705,896
Telefonica Europe BV, 8.25%, 09/15/30		600		774,776
TELUS Corp., 4.60%, 11/16/48 (Call 05/16/48)^(b)		135		135,415
Verizon Communications Inc.
3.85%, 11/01/42 (Call 05/01/42)		475		425,218
4.13%, 08/15/46		525		480,559
4.27%, 01/15/36		900		878,390
4.40%, 11/01/34 (Call 05/01/34)		970		971,794
4.50%, 08/10/33		1,475		1,502,604
4.52%, 09/15/48		1,460		1,427,652
4.67%, 03/15/55		1,450		1,410,186


Security	Par (000)		Value

Telecommunications (continued)
4.75%, 11/01/41	$	200	$	203,003
4.81%, 03/15/39		580		595,062
4.86%, 08/21/46		1,240		1,274,932
5.01%, 04/15/49		1,025		1,072,904
5.01%, 08/21/54		1,600		1,641,270
5.25%, 03/16/37		265		288,476
5.50%, 03/16/47		465		516,882
6.40%, 02/15/38		50		59,424
6.55%, 09/15/43		250		309,102
7.75%, 12/01/30		125		162,141
Vodafone Group PLC
4.38%, 02/19/43		625		536,036
5.00%, 05/30/38^(b)		150		142,159
5.25%, 05/30/48		980		933,960
6.15%, 02/27/37		270		289,448
6.25%, 11/30/32		200		223,468
7.88%, 02/15/30		410		509,937

				43,390,038

Toys, Games & Hobbies — 0.1%
Hasbro Inc.
5.10%, 05/15/44 (Call 11/15/43)		125		110,018
6.35%, 03/15/40		200		209,173

				319,191

Transportation — 3.2%
Burlington Northern Santa Fe LLC
3.90%, 08/01/46 (Call 02/01/46)		290		279,559
4.05%, 06/15/48 (Call 12/15/47)		300		294,809
4.13%, 06/15/47 (Call 12/15/46)		10		9,930
4.15%, 04/01/45 (Call 10/01/44)		400		401,289
4.38%, 09/01/42 (Call 03/01/42)		260		267,617
4.40%, 03/15/42 (Call 09/15/41)		265		274,234
4.45%, 03/15/43 (Call 09/15/42)		221		229,895
4.55%, 09/01/44 (Call 03/01/44)		300		315,051
4.70%, 09/01/45 (Call 03/01/45)		295		317,926
4.90%, 04/01/44 (Call 10/01/43)		100		110,163
4.95%, 09/15/41 (Call 03/15/41)		114		125,887
5.05%, 03/01/41 (Call 09/01/40)		56		62,099
5.15%, 09/01/43 (Call 03/01/43)		150		169,986
5.40%, 06/01/41 (Call 12/01/40)		250		287,782
5.75%, 05/01/40 (Call 11/01/39)		300		361,062
6.15%, 05/01/37		220		269,919
6.20%, 08/15/36		200		247,180
7.95%, 08/15/30		75		103,399
Canadian National Railway Co.
3.20%, 08/02/46 (Call 02/02/46)		300		263,883
3.65%, 02/03/48 (Call 08/03/47)^(b)		250		240,085
4.45%, 01/20/49 (Call 07/20/48)		100		108,968
6.20%, 06/01/36		50		61,964
6.25%, 08/01/34		111		142,326
6.38%, 11/15/37		175		223,673
Cie. de Chemin de Fer Canadien Pacifique
4.80%, 09/15/35 (Call 03/15/35)		197		208,203
4.80%, 08/01/45 (Call 02/01/45)		100		106,176
5.95%, 05/15/37		16		18,794
6.13%, 09/15/15 (Call 03/15/15)		255		296,501
7.13%, 10/15/31		500		636,797
CSX Corp.
3.80%, 11/01/46 (Call 05/01/46)		225		201,951
3.95%, 05/01/50 (Call 11/01/49)		150		135,176



Security	Par (000)		Value

Transportation (continued)
4.10%, 03/15/44 (Call 09/15/43)	$	200	$	188,653
4.25%, 03/15/29 (Call 12/15/28)		70		72,094
4.25%, 11/01/66 (Call 05/01/66)^(b)		300		258,715
4.30%, 03/01/48 (Call 09/01/47)		250		242,028
4.40%, 03/01/43 (Call 09/01/42)		325		317,064
4.50%, 03/15/49 (Call 09/15/48)		95		93,787
4.50%, 08/01/54 (Call 02/01/54)		100		96,909
4.75%, 05/30/42 (Call 11/30/41)		300		307,631
5.50%, 04/15/41 (Call 10/15/40)		120		133,111
6.00%, 10/01/36		250		288,870
6.15%, 05/01/37		100		118,443
6.22%, 04/30/40		205		244,452
FedEx Corp.
3.88%, 08/01/42^(b)		150		128,097
3.90%, 02/01/35		300		276,938
4.05%, 02/15/48 (Call 08/15/47)		350		303,305
4.10%, 04/15/43		152		134,046
4.10%, 02/01/45		285		248,452
4.40%, 01/15/47 (Call 07/15/46)		65		59,224
4.55%, 04/01/46 (Call 10/01/45)		400		373,811
4.75%, 11/15/45 (Call 05/15/45)		525		506,282
4.90%, 01/15/34		215		226,189
4.95%, 10/17/48 (Call 04/17/48)^(b)		65		64,492
5.10%, 01/15/44^(b)		300		302,795
Kansas City Southern
4.30%, 05/15/43 (Call 11/15/42)		100		94,519
4.95%, 08/15/45 (Call 02/15/45)		245		251,537
Norfolk Southern Corp.
3.94%, 11/01/47 (Call 05/01/47)		200		186,733
3.95%, 10/01/42 (Call 04/01/42)		140		131,189
4.05%, 08/15/52 (Call 02/15/52)		480		444,293
4.15%, 02/28/48 (Call 08/28/47)		225		218,088
4.45%, 06/15/45 (Call 12/15/44)		275		275,754
4.65%, 01/15/46 (Call 07/15/45)		95		97,659
4.84%, 10/01/41		450		472,113
Polar Tankers Inc., 5.95%, 05/10/37^(a)		30		34,659
TTX Co., 4.60%, 02/01/49 (Call 08/01/48)^(a)		250		256,980
Union Pacific Corp.
3.35%, 08/15/46 (Call 02/15/46)		150		124,459
3.38%, 02/01/35 (Call 08/01/34)		310		279,945
3.60%, 09/15/37 (Call 03/15/37)		300		272,327
3.88%, 02/01/55 (Call 08/01/54)		225		193,828
4.00%, 04/15/47 (Call 10/15/46)		150		139,002
4.05%, 11/15/45 (Call 05/15/45)		225		210,200
4.05%, 03/01/46 (Call 09/01/45)		250		235,450
4.15%, 01/15/45 (Call 07/15/44)		110		103,242
4.25%, 04/15/43 (Call 10/15/42)		165		157,456
4.30%, 06/15/42 (Call 12/15/41)		150		145,256
4.30%, 03/01/49 (Call 09/01/48)		250		244,766
4.38%, 09/10/38 (Call 03/10/38)		25		24,931
4.38%, 11/15/65 (Call 05/15/65)		96		87,245
4.50%, 09/10/48 (Call 03/10/48)		500		502,006
4.75%, 09/15/41 (Call 03/15/41)		158		161,877
4.80%, 09/10/58 (Call 03/10/58)^(b)		85		87,539
4.82%, 02/01/44 (Call 08/01/43)		220		227,507
6.63%, 02/01/29^(b)		250		304,454


Security	Par/ Shares (000)		Value

Transportation (continued)
United Parcel Service Inc.
3.40%, 11/15/46 (Call 05/15/46)	$	110	$	95,834
3.63%, 10/01/42		105		95,369
4.88%, 11/15/40 (Call 05/15/40)		365		399,516
6.20%, 01/15/38		600		746,381

				19,059,786

Trucking & Leasing — 0.0%
GATX Corp., 5.20%, 03/15/44 (Call 09/15/43)		150		149,364


Water — 0.2%
American Water Capital Corp.
3.75%, 09/01/47 (Call 03/01/47)		200		185,333
4.00%, 12/01/46 (Call 06/01/46)		95		90,623
4.20%, 09/01/48 (Call 03/01/48)		35		34,690
4.30%, 12/01/42 (Call 06/01/42)		16		16,045
4.30%, 09/01/45 (Call 03/01/45)		350		350,144
6.59%, 10/15/37^(b)		324		411,550
Veolia Environnement SA, 6.75%, 06/01/38		179		216,646

				1,305,031


Total Corporate Bonds & Notes — 97.2% (Cost: $595,243,915)				572,138,350


Short-Term Investments

Money Market Funds — 8.5%
BlackRock Cash Funds: Institutional, SL Agency Shares,
2.62%^(g)(h)(i)		44,702		44,719,478
BlackRock Cash Funds: Treasury, SL Agency Shares,
2.33%^(g)(h)		5,363		5,362,954

				50,082,432


Total Short-Term Investments — 8.5% (Cost: $50,066,040)				50,082,432


Total Investments in Securities — 105.7% (Cost: $645,309,955)				622,220,782

Other Assets, Less Liabilities — (5.7)%				(33,332,911	)


Net Assets — 100.0%			$	588,887,871

^(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. Reference index and spread are provided if the rate is currently floating.

^(d)	Variable or floating rate security. Rate shown is the rate in effect as of period-end.

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

^(f)	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.

^(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 28, 2019, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

For the year ended February 28, 2019, 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.

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.

InvestmentValuation 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 pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data, credit quality information, perceived market movements, news, and other relevant information and by other methods, which may include consideration of: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; general market conditions; and/or other factors and assumptions.

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.

As of February 28, 2019, 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 28, 2019 and the value of the related cash collateral are disclosed in the statement of assets and liabilities.

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.

The following table is a summary of the securities lending agreements by counterparty which are subject to offset under an MSLA as of February 28, 2019:

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 if 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.

Futures Contracts: The Fund used futures contracts to mitigate or maintain duration risk as securities were purchased and sold during the Fund’s transition to a new underlying index. Futures contracts are standardized, exchange-traded agreements to buy or sell a specific quantity of an underlying instrument at a set price on a future date. Depending on the terms of a contract, a futures contract 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.

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.

Prior to June 26, 2018, for its investment advisory services to the Fund, BFA was entitled to an annual investment advisory fee of 0.20%, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund.

Expense Waivers: The total of the investment advisory fee and any other fund expenses are a fund’s total annual operating expenses. Effective June 1, 2018, BFA contractually agreed to waive a portion of its investment advisory fee for the Fund through May 30, 2023 such that the Fund’s total annual operating expenses after fee waiver will not exceed 0.06% of average daily net assets. The contractual waiver for the Fund was terminated effective June 26, 2018, pursuant to a written agreement between the Trust and BFA and in conjunction with the permanent annual advisory fee reduction for the Fund from 0.20% to 0.06%.

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. Prior to January 1, 2019, the Fund retained 80% of securities lending income (which excludes collateral investment fees) and the amount retained was not 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 a given 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 and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees. Prior to January 1, 2019, the Fund was subject to the same terms under the previous securities lending fee arrangement.

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 28, 2019, the Fund paid BTC $56,984 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 28, 2019, transactions executed by the Fund pursuant to Rule 17a-7 under the 1940 Act were as follows:

For the year ended February 28, 2019, purchases and sales of investments, excluding in-kind transactions and short-term investments, were as follows:

Management has analyzed tax laws and regulations and their application to the Fund as of February 28, 2019, 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 28, 2019, the following permanent differences attributable to realized gains (losses) from in-kind redemptions, were reclassified to the following accounts:

As of February 28, 2019, the tax components of accumulated net earnings (losses) were as follows:

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.

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 price 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.

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.

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 U.S. Preferred Stock 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. Plaintiffs have appealed the court’s decision.

On August 17, 2018, the SEC adopted amendments to certain disclosure requirements in Securities Act Release No. 33-10532, Disclosure Update and Simplification. The Fund has adopted the amendments pertinent to Regulation S-X in this shareholder report. The amendments impacted certain disclosure presentation on the statement of assets and liabilities, statement of changes in net assets and notes to the financial statements.

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 28, 2019, the related statement of operations for the year ended February 28, 2019, the statement of changes in net assets for each of the two years in the period ended February 28, 2019, including the related notes, and the financial highlights for each of the five years in the period ended February 28, 2019 (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 28, 2019, 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 28, 2019 and the financial highlights for each of the five years in the period ended February 28, 2019 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 February 28, 2019 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.

Global investment-grade bonds advanced for the 12 months ended October 31, 2019 (“reporting period”). The Bloomberg Barclays Global Aggregate Index, a broad measure of global bond market performance, returned 9.54% in U.S. dollar terms for the reporting period.

The performance of global bonds was driven primarily by lower interest rates, as concerns about the global economy led central banks around the world to implement a series of interest rate reductions. Following a cycle of higher interest rates in 2018, slowing economic growth and the protracted trade dispute between the U.S. and China prompted central banks to adopt or signal more accommodative monetary policies beginning January 2019. Low inflation and weak economic indicators led investors to anticipate continued stimulative policies from the world’s central banks. Consequently, global bond yields (which are inversely related to prices) declined to their lowest level in 120 years, with more than $17 trillion in bonds worldwide offering a negative yield as of August 2019.

U.S. bond yields declined significantly as the delayed impact of higher interest rates early in the reporting period and the trade dispute between the U.S. and China weighed on economic growth, particularly in the manufacturing and industrial sectors. In response to deteriorating economic conditions, the U.S. Federal Reserve Bank (“Fed”) shifted to a more accommodative monetary policy starting in January 2019. After raising short-term interest rates in December 2018, the Fed reversed course and lowered them three times in 2019. Long-term bond yields declined more than short-term yields, reflecting lower inflation expectations and solid demand for the relative stability of U.S. Treasuries amid economic uncertainty. Consequently, the U.S. Treasury yield curve (a graphical representation of U.S. Treasury yields at different maturities) flattened before briefly inverting in August 2019, as 10-year Treasury yields dipped below two-year Treasury yields.

European bonds also posted strong returns in an environment of tepid economic growth and softening exports. The Eurozone’s slowing economy prompted the European Central Bank (“ECB”) to reinstate its monetary stimulus program and lower the interest rate on deposits made by commercial banks. The ECB also signaled its willingness to decrease its headline short-term interest rate in the future, which further helped Eurozone bond yields. Investors generally viewed the nomination of a new president of the ECB late in the reporting period as a positive development, anticipating that she would continue policies that promote low interest rates and monetary stimulus. As yields for many government bonds turned negative, investors seeking higher returns moved toward debt issued by countries that are considered higher risk. Italian bonds in particular benefited from a shift toward higher-yielding debt, despite the fact that the country dipped into recession briefly in 2019 before returning to growth. U.K. bond yields also declined, as uncertainty surrounding Brexit prompted investors to move away from equities, which are generally more exposed to trade risk.

A slowing Chinese economy and the trade dispute between the U.S. and China helped the performance of bonds in the Asia/Pacific region, as concerns about a possible economic downturn prompted investors to move into bonds. Japanese bond prices increased due to strong demand from both domestic and foreign investors, while South Korean bonds benefited from the country’s high credit rating and trade surplus, which investors viewed as signs of stability. Emerging market bonds also posted solid returns, driven by investors’ demand for yield as an increasing number of developed-market bonds offered negative interest rates.

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 positive return for the reporting period despite the substantial negative impact of the interest rate hedge. Demand for U.S. dollar-denominated emerging market debt strengthened, as low yields in developed countries sent investors in search of higher yields in emerging markets. Similarly, interest rate reductions by the Fed drove capital flows to emerging markets and provided room for emerging market central banks to lower interest rates.

On an unhedged basis, Latin American bonds contributed the most to the Fund’s return for the reporting period. Central bank rate reductions and the restructuring of debt and financial commitments from the government in the state-run energy sector aided Mexican high-yield bonds. Bond yields in Mexico declined with inflation, which led to solid performance for Mexican bonds despite ongoing credit concerns in the energy sector. Brazilian bonds benefited from the central bank reducing interest rates to record lows, while Colombian bonds advanced as the central bank kept interest rates low and credit conditions improved.

European bonds also contributed to the Fund’s return, led by Russia, where revenues from the state-run energy sector increased cash reserves and drove down bond yields. Ukrainian bonds also advanced, helped by optimism about new political leadership.

Declining interest rates during the reporting period meant significantly negative returns 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, falling 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 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 falling interest rates.


Security	Shares		Value

Investment Companies

Exchange-Traded Funds — 95.8%
iShares J.P. Morgan USD Emerging Markets Bond ETF^(a)		61,823	$	7,023,093


Total Investment Companies — 95.8% (Cost: $6,814,419)				7,023,093


Short-Term Investments

Money Market Funds — 1.2%
BlackRock Cash Funds: Treasury, SL Agency Shares, 1.74%^(a)(b)		89,000		89,000


Total Short-Term Investments — 1.2% (Cost: $89,000)				89,000


Total Investments in Securities — 97.0% (Cost: $6,903,419)				7,112,093

Other Assets, Less Liabilities — 3.0%				221,349


Net Assets — 100.0%			$	7,333,442