UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09102
iShares, Inc.
(Exact name of registrant as specified in charter)
c/o BlackRock Fund Advisors
400 Howard Street, San Francisco, CA 94105
(Address of principal executive offices) (Zip code)
The Corporation Trust Incorporated
2405 York Road, Suite 201, Lutherville-Timonium, Maryland 21093
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 670-2000
Date of fiscal year end: October 31, 2024
Date of reporting period: April 30, 2024
Item 1. Reports to Stockholders.
(a) The Report to Shareholders is attached herewith.
![](https://capedge.com/proxy/N-CSRS/0001193125-24-174808/g814077imgfa94d2121.jpg)
2024 Semi-Annual Report (Unaudited) |
iShares, Inc. |
• iShares International High Yield Bond ETF | HYXU | Cboe BZX |
• iShares J.P. Morgan EM Corporate Bond ETF | CEMB | Cboe BZX |
• iShares J.P. Morgan EM High Yield Bond ETF | EMHY | Cboe BZX |
• iShares J.P. Morgan EM Local Currency Bond ETF | LEMB | NYSE Arca |
• iShares US & Intl High Yield Corp Bond ETF | GHYG | Cboe BZX |
![](https://capedge.com/proxy/N-CSRS/0001193125-24-174808/g814077img6b3182502.gif)
![](https://capedge.com/proxy/N-CSRS/0001193125-24-174808/g814077img21c0a00c3.jpg)
President, BlackRock Inc.
Total Returns as of April 30, 2024 | ||
6-Month | 12-Month | |
U.S. large cap equities (S&P 500® Index) | 20.98% | 22.66% |
U.S. small cap equities (Russell 2000® Index) | 19.66 | 13.32 |
International equities (MSCI Europe, Australasia, Far East Index) | 18.63 | 9.28 |
Emerging market equities (MSCI Emerging Markets Index) | 15.40 | 9.88 |
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) | 2.66 | 5.36 |
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | 3.66 | (6.40) |
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | 4.97 | (1.47) |
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) | 7.06 | 2.08 |
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | 8.99 | 9.01 |
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
Average Annual Total Returns | Cumulative Total Returns | |||||||
6-Month Total Returns | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 7.96 % | 6.50 % | 0.97 % | 0.10 % | 6.50 % | 4.95 % | 1.01 % | |
Fund Market | 7.48 | 5.38 | 0.94 | 0.06 | 5.38 | 4.80 | 0.63 | |
Index | 8.33 | 6.69 | 1.28 | 0.38 | 6.69 | 6.59 | 3.90 |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,079.60 | $2.07 | $1,000.00 | $1,022.90 | $2.01 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Moody's Credit Rating* | Percent of Total Investments(a) |
Baa | 7.5 % |
Ba | 48.2 |
B | 27.3 |
Caa | 4.1 |
Ca | 0.3 |
Not Rated | 12.6 |
Country/Geographic Region | Percent of Total Investments(a) |
France | 17.5 % |
Italy | 13.8 |
United Kingdom | 12.8 |
United States | 12.6 |
Germany | 10.6 |
Spain | 5.7 |
Greece | 4.6 |
Sweden | 3.5 |
Luxembourg | 3.2 |
Netherlands | 2.9 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | |||||||
6-Month Total Returns | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 8.14 % | 5.96 % | 1.65 % | 2.83 % | 5.96 % | 8.52 % | 32.15 % | |
Fund Market | 7.94 | 4.86 | 1.49 | 2.86 | 4.86 | 7.67 | 32.58 | |
Index | 8.39 | 6.41 | 1.96 | 3.29 | 6.41 | 10.18 | 38.16 |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,081.40 | $2.59 | $1,000.00 | $1,022.40 | $2.51 | 0.50% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Moody's Credit Rating* | Percent of Total Investments(a) |
Aaa | 0.4 % |
Aa | 8.5 |
A | 17.6 |
Baa | 32.9 |
Ba | 13.2 |
B | 6.9 |
Caa | 2.4 |
C | 0.9 |
Not Rated | 17.2 |
Country/Geographic Region | Percent of Total Investments(a) |
China | 9.3 % |
Brazil | 5.1 |
United Arab Emirates | 5.0 |
Mexico | 4.8 |
South Korea | 4.7 |
Saudi Arabia | 4.6 |
India | 4.4 |
Colombia | 4.1 |
Hong Kong | 4.1 |
Chile | 3.9 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | |||||||
6-Month Total Returns | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 13.72 % | 14.45 % | 1.67 % | 3.00 % | 14.45 % | 8.63 % | 34.43 % | |
Fund Market | 13.15 | 13.24 | 1.56 | 2.90 | 13.24 | 8.06 | 33.07 | |
Index | 14.11 | 15.13 | 2.04 | 3.33 | 15.13 | 10.62 | 38.77 |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,137.20 | $2.66 | $1,000.00 | $1,022.40 | $2.51 | 0.50% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Moody's Credit Rating* | Percent of Total Investments(a) |
Aa | 0.5 % |
A | 0.1 |
Baa | 9.3 |
Ba | 33.0 |
B | 28.6 |
Caa | 8.8 |
Ca | 6.8 |
C | 0.7 |
Not Rated | 12.2 |
Country/Geographic Region | Percent of Total Investments(a) |
Brazil | 13.4 % |
Turkey | 12.9 |
Mexico | 8.5 |
Colombia | 7.6 |
Argentina | 5.3 |
South Africa | 3.6 |
Oman | 3.5 |
Dominican Republic | 3.2 |
China | 2.9 |
Egypt | 2.9 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | |||||||
6-Month Total Returns | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 3.96 % | (0.56 )% | (1.98 )% | (1.77 )% | (0.56 )% | (9.51 )% | (16.38 )% | |
Fund Market | 4.14 | (0.87 ) | (2.16 ) | (1.88 ) | (0.87 ) | (10.32 ) | (17.29 ) | |
Index | 1.67 | (1.40 ) | (1.83 ) | (1.39 ) | (1.40 ) | (8.80 ) | (13.05 ) |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,039.60 | $1.52 | $1,000.00 | $1,023.40 | $1.51 | 0.30% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Moody's Credit Rating* | Percent of Total Investments(a) |
Aa | 3.6 % |
A | 24.5 |
Baa | 34.9 |
Ba | 10.5 |
B | 4.5 |
Not Rated | 22.0 |
Country/Geographic Region | Percent of Total Investments(a) |
China | 15.3 % |
Mexico | 7.0 |
Indonesia | 6.9 |
Malaysia | 5.9 |
Brazil | 5.7 |
Thailand | 5.1 |
South Africa | 4.6 |
Uruguay | 4.6 |
Serbia | 4.6 |
Peru | 4.5 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
Average Annual Total Returns | Cumulative Total Returns | |||||||
6-Month Total Returns | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||
Fund NAV | 8.83 % | 7.90 % | 2.42 % | 2.61 % | 7.90 % | 12.71 % | 29.33 % | |
Fund Market | 8.73 | 7.53 | 2.38 | 2.60 | 7.53 | 12.47 | 29.23 | |
Index | 8.75 | 7.90 | 2.54 | 2.76 | 7.90 | 13.35 | 31.34 |
Actual | Hypothetical 5% Return | |||||
Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Beginning Account Value (11/01/23) | Ending Account Value (04/30/24) | Expenses Paid During the Period(a) | Annualized Expense Ratio |
$1,000.00 | $1,088.30 | $2.08 | $1,000.00 | $1,022.90 | $2.01 | 0.40% |
(a) | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
Moody's Credit Rating* | Percent of Total Investments(a) |
Baa | 2.8 % |
Ba | 42.0 |
B | 40.3 |
Caa | 9.7 |
Ca | 0.8 |
Not Rated | 4.4 |
Country/Geographic Region | Percent of Total Investments(a) |
United States | 65.1 % |
United Kingdom | 5.7 |
France | 5.2 |
Italy | 3.9 |
Canada | 3.7 |
Germany | 3.4 |
Spain | 1.7 |
Netherlands | 1.6 |
Luxembourg | 1.4 |
Israel | 1.3 |
* | Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
(a) | Excludes money market funds. |
Security | Par (000 ) | Value |
Corporate Bonds & Notes | ||
Australia — 0.2% | ||
APA Infrastructure Ltd., 7.13%, 11/09/83 (Call 11/09/28), (5-year EURIBOR ICE Swap + 4.098%)(a)(b) | EUR 100 | $113,654 |
Austria — 0.5% | ||
ams-OSRAM AG, 10.50%, 03/30/29 (Call 03/30/26)(a) | EUR 100 | 106,646 |
Benteler International AG, 9.38%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 113,993 |
220,639 | ||
Belgium — 0.2% | ||
Telenet Finance Luxembourg Notes Sarl, 3.50%, 03/01/28 (Call 05/10/24)(a) | EUR 100 | 101,246 |
Canada — 1.8% | ||
Air Canada, 4.63%, 08/15/29 (Call 02/15/26)(c) | CAD 300 | 207,180 |
Cineplex Inc., 7.63%, 03/31/29 (Call 01/31/26)(c) | CAD 50 | 36,724 |
Mattamy Group Corp., 4.63%, 03/01/28 (Call 05/10/24)(a) | CAD 50 | 33,946 |
Mattr Corp., 7.25%, 04/02/31 (Call 04/02/27)(c) | CAD 40 | 28,954 |
Parkland Corp. | ||
3.88%, 06/16/26 (Call 05/10/24)(c) | CAD 150 | 104,409 |
4.38%, 03/26/29 (Call 05/10/24) | CAD 75 | 49,968 |
Primo Water Holdings Inc., 3.88%, 10/31/28 (Call 05/10/24)(a) | EUR 100 | 102,197 |
Southern Pacific Resource Corp., 8.75%, 01/25/18(c)(d)(e)(f) | CAD 50 | — |
Tamarack Valley Energy Ltd., 7.25%, 05/10/27 (Call 05/30/24)(c) | CAD 25 | 18,033 |
Videotron Ltd. | ||
3.13%, 01/15/31 (Call 01/15/26) | CAD 100 | 62,743 |
3.63%, 06/15/28 (Call 06/15/24)(c) | CAD 150 | 101,106 |
4.50%, 01/15/30 (Call 10/15/24) | CAD 150 | 102,852 |
848,112 | ||
Cyprus — 0.2% | ||
Bank of Cyprus PCL, 2.50%, 06/24/27 (Call 06/24/26), (1-year EUR Swap + 2.785%)(a)(b) | EUR 100 | 101,452 |
Czech Republic — 0.2% | ||
Allwyn Entertainment Financing U.K. PLC, 7.25%, 04/30/30 (Call 04/30/26)(a) | EUR 100 | 111,017 |
Denmark — 1.1% | ||
Orsted A/S, 1.75%, (Call 09/09/27), (5-year EURIBOR ICE Swap + 1.952%)(a)(b) | EUR 100 | 95,572 |
Orsted AS | ||
1.50%, (Call 08/18/30), (5-year EUR Swap + 1.860%)(a)(b) | EUR 100 | 83,600 |
2.50%, (Call 08/18/32), (5-year GUK + 2.136%)(a)(b) | GBP 100 | 89,690 |
5.13%, (Call 09/14/29), (5-year EURIBOR ICE Swap + 2.590%)(a)(b) | EUR 250 | 268,042 |
536,904 | ||
Finland — 0.2% | ||
Citycon Treasury BV, 1.25%, 09/08/26 (Call 06/08/26)(a) | EUR 100 | 97,306 |
France — 17.0% | ||
Adevinta ASA | ||
2.63%, 11/15/25 (Call 05/10/24)(a) | EUR 100 | 106,625 |
3.00%, 11/15/27 (Call 05/10/24)(a) | EUR 100 | 107,149 |
Air France-KLM | ||
7.25%, 05/31/26 (Call 04/30/26)(a) | EUR 100 | 112,697 |
8.13%, 05/31/28 (Call 02/28/28)(a) | EUR 100 | 119,844 |
Security | Par (000 ) | Value |
France (continued) | ||
Altice France SA/France | ||
3.38%, 01/15/28 (Call 05/10/24)(a) | EUR 100 | $70,306 |
4.00%, 07/15/29 (Call 05/30/24)(a) | EUR 100 | 69,594 |
4.13%, 01/15/29 (Call 05/30/24)(a) | EUR 100 | 69,784 |
4.25%, 10/15/29 (Call 10/15/24)(a) | EUR 100 | 69,621 |
5.88%, 02/01/27 (Call 05/10/24)(a) | EUR 200 | 154,684 |
Atos SE | ||
1.00%, 11/12/29 (Call 08/12/29)(a) | EUR 200 | 40,620 |
1.75%, 05/07/25 (Call 02/07/25)(a) | EUR 100 | 20,913 |
Banijay Entertainment SASU, 7.00%, 05/01/29 (Call 11/01/25)(a) | EUR 100 | 111,789 |
Banijay Group SAS, 6.50%, 03/01/26 (Call 05/30/24)(a) | EUR 100 | 106,947 |
CAB SELAS, 3.38%, 02/01/28 (Call 05/30/24)(a) | EUR 200 | 186,450 |
Cerba Healthcare SACA, 3.50%, 05/31/28 (Call 05/31/24)(a) | EUR 100 | 86,878 |
CGG SA, 7.75%, 04/01/27 (Call 05/10/24)(a) | EUR 100 | 99,878 |
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a) | EUR 100 | 67,840 |
Cie Plastic Omnium SE, 4.88%, 03/13/29 (Call 12/13/28)(a) | EUR 100 | 106,683 |
Elis SA | ||
1.63%, 04/03/28 (Call 01/03/28)(a) | EUR 100 | 98,003 |
4.13%, 05/24/27 (Call 02/24/27)(a) | EUR 100 | 107,124 |
ELO SACA | ||
2.88%, 01/29/26 (Call 10/29/25)(a) | EUR 100 | 102,674 |
3.25%, 07/23/27 (Call 04/23/27)(a) | EUR 100 | 99,890 |
4.88%, 12/08/28 (Call 09/08/28)(a) | EUR 100 | 101,988 |
5.88%, 04/17/28 (Call 01/17/28)(a) | EUR 100 | 106,431 |
6.00%, 03/22/29 (Call 12/22/28)(a) | EUR 200 | 211,137 |
Emeria SASU, 7.75%, 03/31/28 (Call 02/07/25)(a) | EUR 100 | 102,898 |
Eutelsat SA | ||
1.50%, 10/13/28 (Call 07/13/28)(a) | EUR 100 | 77,852 |
2.25%, 07/13/27 (Call 04/13/27)(a) | EUR 100 | 87,859 |
EUTELSAT SA SR UNSECURED REGS 04/29 9.75, 9.75%, 04/13/29 (Call 04/13/26)(a) | EUR 100 | 108,109 |
Forvia SE | ||
2.38%, 06/15/27 (Call 05/10/24)(a) | EUR 100 | 100,618 |
2.75%, 02/15/27 (Call 05/30/24)(a) | EUR 225 | 229,018 |
3.13%, 06/15/26 (Call 05/30/24)(a) | EUR 200 | 208,139 |
3.75%, 06/15/28 (Call 05/30/24)(a) | EUR 200 | 206,472 |
5.13%, 06/15/29 (Call 06/15/26)(a) | EUR 100 | 107,675 |
5.50%, 06/15/31 (Call 06/15/27)(a) | EUR 100 | 108,447 |
7.25%, 06/15/26 (Call 11/15/24)(a) | EUR 100 | 111,700 |
Goldstory SAS, 6.75%, 02/01/30 (Call 02/01/26)(a) | EUR 100 | 108,583 |
Holding d'Infrastructures des Metiers de l'Environnement, Series ., 0.63%, Series ., 09/16/28 (Call 06/16/28)(a) | EUR 100 | 89,288 |
Iliad Holding SASU | ||
5.13%, 10/15/26 (Call 05/10/24)(a) | EUR 150 | 159,819 |
5.63%, 10/15/28 (Call 10/15/24)(a) | EUR 100 | 105,200 |
iliad SA | ||
1.88%, 04/25/25 (Call 01/25/25)(a) | EUR 200 | 208,847 |
1.88%, 02/11/28 (Call 11/11/27)(a) | EUR 100 | 96,824 |
2.38%, 06/17/26 (Call 03/17/26)(a) | EUR 100 | 102,485 |
5.38%, 06/14/27 (Call 03/14/27)(a) | EUR 100 | 108,582 |
5.38%, 02/15/29 (Call 11/15/28)(a) | EUR 100 | 107,656 |
5.63%, 02/15/30 (Call 11/15/29)(a) | EUR 100 | 108,812 |
IPD 3 BV, 8.00%, 06/15/28 (Call 06/15/25)(a) | EUR 100 | 112,898 |
Kapla Holding SAS, 3.38%, 12/15/26 (Call 05/10/24)(a) | EUR 100 | 103,000 |
La Financiere Atalian SASU, 8.50%, 06/30/28 (Call 05/15/24) | EUR 62 | 42,983 |
Security | Par (000 ) | Value |
France (continued) | ||
Loxam SAS | ||
2.88%, 04/15/26 (Call 05/10/24)(a) | EUR 100 | $103,831 |
6.38%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 109,901 |
6.38%, 05/31/29 (Call 12/15/25)(a) | EUR 100 | 110,074 |
Paprec Holding SA | ||
3.50%, 07/01/28 (Call 07/01/24)(a) | EUR 100 | 102,363 |
6.50%, 11/17/27 (Call 11/17/25)(a) | EUR 100 | 112,550 |
Picard Groupe SAS, 3.88%, 07/01/26 (Call 05/30/24)(a) | EUR 200 | 207,372 |
Renault SA | ||
1.00%, 11/28/25 (Call 08/28/25)(a) | EUR 70 | 71,222 |
1.25%, 06/24/25 (Call 03/24/25)(a) | EUR 200 | 205,944 |
2.38%, 05/25/26 (Call 02/25/26)(a) | EUR 200 | 205,515 |
2.50%, 06/02/27 (Call 03/02/27)(a) | EUR 200 | 202,537 |
2.50%, 04/01/28 (Call 01/01/28)(a) | EUR 100 | 100,364 |
Rexel SA | ||
2.13%, 12/15/28 (Call 12/15/24)(a) | EUR 100 | 98,099 |
5.25%, 09/15/30 (Call 09/15/26)(a) | EUR 100 | 109,963 |
SNF Group SACA, 2.00%, 02/01/26 (Call 05/10/24)(a) | EUR 100 | 102,952 |
Tereos Finance Groupe I SA | ||
7.25%, 04/15/28 (Call 04/15/25)(a) | EUR 100 | 111,850 |
7.50%, 10/30/25 (Call 05/30/24)(a) | EUR 100 | 108,226 |
Valeo SE | ||
1.00%, 08/03/28 (Call 05/03/28)(a) | EUR 200 | 183,929 |
1.50%, 06/18/25 (Call 03/18/25)(a) | EUR 100 | 103,265 |
4.50%, 04/11/30 (Call 01/11/30)(a) | EUR 100 | 104,444 |
5.38%, 05/28/27 (Call 02/28/27)(a) | EUR 100 | 109,289 |
5.88%, 04/12/29 (Call 01/12/29)(a) | EUR 100 | 111,555 |
8,114,558 | ||
Germany — 10.3% | ||
alstria office REIT-AG, 1.50%, 06/23/26 (Call 03/23/26)(a) | EUR 100 | 93,402 |
Bayer AG | ||
3.13%, 11/12/79 (Call 08/12/27)(a)(b) | EUR 100 | 94,004 |
5.38%, 03/25/82 (Call 06/25/30), (5-year EUR Swap + 4.458%)(a)(b) | EUR 100 | 99,000 |
6.63%, 09/25/83 (Call 09/25/28), (5-year EUR Swap + 3.432%)(a)(b) | EUR 200 | 212,495 |
7.00%, 09/25/83 (Call 09/25/31), (5-year EUR Swap + 3.896%)(a)(b) | EUR 100 | 107,580 |
Series N5.5, 4.50%, Series N5.5, 03/25/82 (Call 06/25/27), (5-year EUR Swap + 3.751%)(a)(b) | EUR 100 | 99,644 |
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27), (5-year EUR Swap + 3.206%)(a)(b) | EUR 100 | 103,126 |
Cheplapharm Arzneimittel GmbH | ||
3.50%, 02/11/27 (Call 05/30/24)(a) | EUR 100 | 102,739 |
4.38%, 01/15/28 (Call 05/30/24)(a) | EUR 150 | 153,794 |
7.50%, 05/15/30 (Call 05/15/26)(a) | EUR 100 | 111,757 |
Commerzbank AG | ||
4.00%, 03/23/26(a) | EUR 100 | 106,368 |
4.00%, 03/30/27(a) | EUR 100 | 106,956 |
4.00%, 12/05/30 (Call 09/05/25), (5-year EUR Swap + 4.350%)(a)(b) | EUR 100 | 105,401 |
4.88%, 10/16/34 (Call 07/16/29), (5-year EURIBOR ICE Swap + 2.150%)(a)(b) | EUR 100 | 105,130 |
6.50%, 12/06/32 (Call 09/06/27), (5-year EURIBOR ICE Swap + 4.300%)(a)(b) | EUR 100 | 111,576 |
6.75%, 10/05/33 (Call 07/05/28), (5-year EURIBOR ICE Swap + 3.700%)(a)(b) | EUR 100 | 113,439 |
8.63%, 02/28/33 (Call 11/28/27), (5-year GUK + 5.251%)(a)(b) | GBP 100 | 131,326 |
Security | Par (000 ) | Value |
Germany (continued) | ||
Commerzbank Ag Subordinated, 1.38%, 12/29/31 (Call 09/29/26), (5-year EUR Swap + 1.730%)(a)(b) | EUR 100 | $97,142 |
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26), (5-year EUR Swap + 1.836%)(a)(b) | EUR 100 | 97,433 |
Gruenenthal GmbH, 3.63%, 11/15/26 (Call 05/30/24)(a) | EUR 100 | 104,167 |
Gruenenthal GMBH, 4.13%, 05/15/28 (Call 05/30/24)(a) | EUR 100 | 102,767 |
IHO Verwaltungs GmbH | ||
3.75%, 09/15/26 (Call 05/10/24), (4.50% PIK)(a)(g) | EUR 100 | 104,603 |
3.88%, 05/15/27 (Call 05/30/24), (4.62% PIK)(a)(g) | EUR 100 | 103,691 |
8.75%, 05/15/28 (Call 05/15/25), (8.75% Cash and 9.50% PIK)(a)(g) | EUR 100 | 114,518 |
Nidda Healthcare Holding GmbH, 7.50%, 08/21/26 (Call 05/10/24)(a) | EUR 200 | 219,708 |
Schaeffler AG | ||
2.75%, 10/12/25 (Call 07/12/25)(a) | EUR 100 | 104,586 |
2.88%, 03/26/27 (Call 12/26/26)(a) | EUR 75 | 77,573 |
3.38%, 10/12/28 (Call 07/12/28)(a) | EUR 200 | 205,587 |
4.50%, 03/28/30 (Call 12/28/29)(a) | EUR 100 | 105,887 |
4.75%, 08/14/29 (Call 05/14/29)(a) | EUR 100 | 107,900 |
TK Elevator Holdco GmbH, 6.63%, 07/15/28 (Call 05/30/24)(a) | EUR 90 | 91,279 |
TK Elevator Midco GmbH, 4.38%, 07/15/27 (Call 05/10/24)(a) | EUR 100 | 102,022 |
ZF Europe Finance BV | ||
2.00%, 02/23/26 (Call 12/23/25)(a) | EUR 100 | 101,784 |
2.50%, 10/23/27 (Call 07/23/27)(a) | EUR 100 | 99,247 |
3.00%, 10/23/29 (Call 07/23/29)(a) | EUR 100 | 97,735 |
4.75%, 01/31/29 (Call 10/31/28)(a) | EUR 200 | 212,711 |
6.13%, 03/13/29 (Call 12/13/28)(a) | EUR 100 | 111,820 |
ZF Finance GmbH | ||
2.00%, 05/06/27 (Call 02/06/27)(a) | EUR 100 | 98,857 |
2.25%, 05/03/28 (Call 02/03/28)(a) | EUR 100 | 96,973 |
2.75%, 05/25/27 (Call 02/25/27)(a) | EUR 100 | 100,951 |
3.00%, 09/21/25 (Call 06/21/25)(a) | EUR 100 | 104,711 |
3.75%, 09/21/28 (Call 06/21/28)(a) | EUR 100 | 102,113 |
5.75%, 08/03/26 (Call 07/03/26)(a) | EUR 100 | 109,509 |
4,933,011 | ||
Greece — 4.4% | ||
Alpha Bank SA | ||
2.50%, 03/23/28 (Call 03/23/27), (1-year EUR Swap + 2.849%)(a)(b) | EUR 100 | 100,225 |
5.00%, 05/12/30 (Call 05/12/29), (1-year EUR Swap + 2.432%)(a)(b) | EUR 100 | 106,547 |
7.50%, 06/16/27 (Call 06/16/26), (1-year EUR Swap + 5.084%)(a)(b) | EUR 100 | 112,866 |
Alpha Services and Holdings SA, 5.50%, 06/11/31 (Call 03/11/26), (5-year EUR Swap + 5.823%)(a)(b) | EUR 100 | 104,922 |
Eurobank SA | ||
2.25%, 03/14/28 (Call 03/14/27), (1-year EUR Swap + 2.634%)(a)(b) | EUR 100 | 100,462 |
4.88%, 04/30/31 (Call 04/30/30), (5-year EURIBOR ICE Swap + 2.165%)(a)(b) | EUR 100 | 105,838 |
5.88%, 11/28/29 (Call 11/28/28), (1-year EUR Swap + 2.830%)(a)(b) | EUR 100 | 111,617 |
7.00%, 01/26/29 (Call 01/26/28), (1-year EUR Swap + 4.418%)(a)(b) | EUR 200 | 231,224 |
National Bank of Greece SA | ||
2.75%, 10/08/26 (Call 10/08/25), (5-year EUR Swap + 3.302%)(a)(b) | EUR 100 | 104,056 |
4.50%, 01/29/29 (Call 01/29/28), (6-mo. EURIBOR + 1.812%)(a)(b) | EUR 100 | 106,110 |
Security | Par (000 ) | Value |
Greece (continued) | ||
5.88%, 06/28/35 (Call 03/28/30), (5-year EURIBOR ICE Swap + 3.154%)(a)(b) | EUR 100 | $106,831 |
8.00%, 01/03/34 (Call 10/03/28), (5-year EURIBOR ICE Swap + 4.646%)(a)(b) | EUR 100 | 115,950 |
Piraeus Bank SA | ||
5.00%, 04/16/30 (Call 04/16/29), (1-year EURIBOR ICE Swap + 2.245%)(a)(b) | EUR 100 | 106,320 |
6.75%, 12/05/29 (Call 12/05/28), (1-year EUR Swap + 2.837%)(a)(b) | EUR 100 | 114,147 |
7.25%, 07/13/28 (Call 07/13/27), (1-year EUR Swap + 3.692%)(a)(b) | EUR 150 | 170,526 |
Piraeus Financial Holdings SA, 7.25%, 04/17/34 (Call 01/17/29), (5-year EUR Swap + 4.773%)(a)(b) | EUR 100 | 109,729 |
Public Power Corp. SA | ||
3.38%, 07/31/28 (Call 07/31/24)(a) | EUR 100 | 102,101 |
4.38%, 03/30/26 (Call 05/30/24)(a) | EUR 100 | 106,475 |
2,115,946 | ||
Israel — 2.0% | ||
Teva Pharmaceutical Finance Netherlands II BV | ||
1.63%, 10/15/28(a) | EUR 150 | 139,382 |
1.88%, 03/31/27 (Call 12/31/26)(a) | EUR 200 | 197,180 |
3.75%, 05/09/27 (Call 02/09/27) | EUR 150 | 155,485 |
4.38%, 05/09/30 (Call 02/09/30) | EUR 200 | 203,818 |
7.38%, 09/15/29 (Call 06/15/29) | EUR 100 | 117,662 |
7.88%, 09/15/31 (Call 06/15/31) | EUR 100 | 122,439 |
935,966 | ||
Italy — 13.4% | ||
Banca IFIS SpA | ||
5.50%, 02/27/29(a) | EUR 100 | 107,680 |
6.13%, 01/19/27(a) | EUR 100 | 110,133 |
Banca Monte dei Paschi di Siena SpA | ||
1.88%, 01/09/26(a) | EUR 100 | 101,667 |
4.75%, 03/15/29 (Call 03/15/28), (3-mo. EURIBOR + 2.047%)(a)(b) | EUR 100 | 107,235 |
6.75%, 09/05/27 (Call 09/05/26), (3-mo. EURIBOR + 3.283%)(a)(b) | EUR 100 | 111,127 |
10.50%, 07/23/29(a) | EUR 100 | 125,795 |
Banca Popolare di Sondrio SpA, 5.51%, 03/13/34 (Call 03/13/29), (5-year EUR Swap + 2.800%)(a)(b) | EUR 200 | 213,329 |
Banco BPM SpA | ||
3.25%, 01/14/31 (Call 01/14/26), (5-year EUR Swap + 3.800%)(a)(b) | EUR 100 | 103,185 |
5.00%, 06/18/34 (Call 03/18/29), (5-year EUR Swap + 2.450%)(a)(b) | EUR 200 | 210,208 |
BPER Banca SpA | ||
1.88%, 07/07/25(a) | EUR 100 | 103,985 |
3.88%, 07/25/32 (Call 01/25/27), (5-year EUR Swap + 3.728%)(a)(b) | EUR 200 | 206,163 |
5.75%, 09/11/29 (Call 09/11/28), (3-mo. EURIBOR + 2.600%)(a)(b) | EUR 150 | 167,606 |
6.13%, 02/01/28 (Call 02/01/27), (3-mo. EURIBOR + 3.600%)(a)(b) | EUR 150 | 168,424 |
Cerved Group SpA, 6.00%, 02/15/29 (Call 03/15/25)(a) | EUR 100 | 98,961 |
Engineering - Ingegneria Informatica - SpA, 5.88%, 09/30/26 (Call 05/15/24)(a) | EUR 100 | 102,344 |
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 05/10/24)(a) | EUR 100 | 99,978 |
Infrastrutture Wireless Italiane SpA | ||
1.63%, 10/21/28 (Call 07/21/28)(a) | EUR 100 | 97,610 |
1.75%, 04/19/31 (Call 01/19/31)(a) | EUR 100 | 94,079 |
Security | Par (000 ) | Value |
Italy (continued) | ||
1.88%, 07/08/26 (Call 04/08/26)(a) | EUR 150 | $153,415 |
Intesa Sanpaolo SpA | ||
2.93%, 10/14/30(a) | EUR 100 | 96,985 |
3.93%, 09/15/26(a) | EUR 200 | 212,285 |
5.15%, 06/10/30(a) | GBP 100 | 114,365 |
6.18%, 02/20/34 (Call 11/20/28), (5-year EURIBOR ICE Swap + 3.250%)(a)(b) | EUR 200 | 224,144 |
Lottomatica SpA, 7.13%, 06/01/28 (Call 06/01/25)(a) | EUR 100 | 112,162 |
Mediobanca Banca di Credito Finanziario SpA, 3.75%, 06/16/26 | EUR 50 | 52,584 |
Mundys SpA | ||
1.88%, 07/13/27 (Call 04/13/27)(a) | EUR 175 | 174,497 |
1.88%, 02/12/28 (Call 11/12/27)(a) | EUR 200 | 196,005 |
4.75%, 01/24/29 (Call 10/24/28)(a) | EUR 100 | 108,509 |
Nexi SpA | ||
1.63%, 04/30/26 (Call 01/30/26)(a) | EUR 200 | 202,635 |
2.13%, 04/30/29 (Call 01/30/29)(a) | EUR 150 | 142,777 |
Rossini Sarl, 6.75%, 10/30/25 (Call 05/10/24)(a) | EUR 100 | 106,418 |
Saipem Finance International BV, 3.13%, 03/31/28 (Call 12/31/27)(a) | EUR 100 | 103,179 |
Telecom Italia SpA | ||
6.88%, 02/15/28 (Call 11/15/27)(a) | EUR 300 | 334,427 |
7.88%, 07/31/28 (Call 05/01/28)(a) | EUR 250 | 289,339 |
Telecom Italia SpA/Milano | ||
1.63%, 01/18/29 (Call 10/18/28)(a) | EUR 100 | 90,728 |
2.38%, 10/12/27 (Call 07/12/27)(a) | EUR 100 | 97,728 |
2.75%, 04/15/25 (Call 01/15/25)(a) | EUR 200 | 209,199 |
2.88%, 01/28/26 (Call 10/28/25)(a) | EUR 200 | 205,985 |
3.00%, 09/30/25(a) | EUR 100 | 104,237 |
UniCredit SpA | ||
2.73%, 01/15/32 (Call 01/15/27), (5-year EUR Swap + 2.800%)(a)(b) | EUR 200 | 201,477 |
5.38%, 04/16/34 (Call 01/16/29), (5-year EURIBOR ICE Swap + 2.800%)(a)(b) | EUR 200 | 215,614 |
Webuild SpA | ||
3.88%, 07/28/26 (Call 01/28/26)(a) | EUR 100 | 104,914 |
5.88%, 12/15/25 (Call 06/15/25)(a) | EUR 100 | 107,983 |
7.00%, 09/27/28 (Call 03/27/28)(a) | EUR 100 | 114,391 |
6,405,491 | ||
Japan — 1.5% | ||
SoftBank Group Corp. | ||
2.88%, 01/06/27 (Call 10/06/26)(a) | EUR 200 | 201,125 |
3.13%, 09/19/25 (Call 06/21/25)(a) | EUR 100 | 104,029 |
3.38%, 07/06/29 (Call 04/06/29)(a) | EUR 125 | 120,908 |
3.88%, 07/06/32 (Call 04/06/32)(a) | EUR 100 | 93,528 |
4.00%, 09/19/29 (Call 06/21/29)(a) | EUR 100 | 98,985 |
4.50%, 04/20/25 (Call 01/20/25)(a) | EUR 100 | 106,032 |
724,607 | ||
Jersey — 0.3% | ||
Aston Martin Capital Holdings Ltd., 10.38%, 03/31/29 (Call 03/15/26)(a) | GBP 100 | 124,615 |
Luxembourg — 3.1% | ||
Altice Financing SA | ||
3.00%, 01/15/28 (Call 05/30/24)(a) | EUR 200 | 172,374 |
4.25%, 08/15/29 (Call 08/15/24)(a) | EUR 100 | 83,871 |
Altice Finco SA, 4.75%, 01/15/28 (Call 05/30/24)(a) | EUR 100 | 70,120 |
Altice France Holding SA | ||
4.00%, 02/15/28 (Call 05/30/24)(a) | EUR 100 | 25,864 |
8.00%, 05/15/27(a) | EUR 200 | 64,232 |
Security | Par (000 ) | Value |
Luxembourg (continued) | ||
ARD Finance SA, 5.00%, 06/30/27 (Call 05/10/24), (5.00% Cash and 5.75% PIK)(a)(g) | EUR 125 | $29,021 |
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 05/30/24)(a) | EUR 100 | 101,000 |
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25 (Call 05/30/24)(a) | EUR 100 | 74,443 |
INEOS Finance PLC | ||
2.88%, 05/01/26 (Call 05/10/24)(a) | EUR 175 | 180,399 |
6.63%, 05/15/28 (Call 02/15/25)(a) | EUR 100 | 108,669 |
INEOS FINANCE PLC, 6.38%, 04/15/29 (Call 04/15/26)(a) | EUR 100 | 107,121 |
Matterhorn Telecom SA, 3.13%, 09/15/26 (Call 05/30/24)(a) | EUR 200 | 207,570 |
Summer BC Holdco A Sarl, 9.25%, 10/31/27 (Call 05/30/24)(a) | EUR 90 | 91,717 |
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 05/30/24)(a) | EUR 150 | 156,664 |
1,473,065 | ||
Netherlands — 2.8% | ||
Boost Newco Borrower LLC / GTCR W Dutch Finance Sub BV, 8.50%, 01/15/31 (Call 01/15/27)(a) | GBP 100 | 132,990 |
PPF Telecom Group BV, 3.13%, 03/27/26 (Call 12/27/25)(a) | EUR 100 | 104,257 |
Q-Park Holding I BV | ||
2.00%, 03/01/27 (Call 05/30/24)(a) | EUR 100 | 98,204 |
5.13%, 03/01/29 (Call 03/01/26)(a) | EUR 100 | 107,043 |
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/10/24)(a) | EUR 100 | 99,412 |
Sunrise HoldCo IV BV, 3.88%, 06/15/29 (Call 05/10/24)(a) | EUR 100 | 99,497 |
TMNL Holding BV, 3.75%, 01/15/29 (Call 01/15/25)(a) | EUR 100 | 99,722 |
Trivium Packaging Finance BV, 3.75%, 08/15/26 (Call 05/30/24)(a) | EUR 100 | 103,943 |
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 05/10/24)(a) | EUR 200 | 183,772 |
WP/AP Telecom Holdings III BV, 5.50%, 01/15/30 (Call 01/15/25)(a) | EUR 100 | 96,636 |
Ziggo Bond Co. BV, 3.38%, 02/28/30 (Call 02/15/25)(a) | EUR 150 | 134,427 |
Ziggo BV, 2.88%, 01/15/30 (Call 10/15/24)(a) | EUR 100 | 93,985 |
1,353,888 | ||
Norway — 0.3% | ||
Var Energi ASA, 7.86%, 11/15/83 (Call 11/15/28), (5-year EURIBOR ICE Swap + 4.765%)(a)(b) | EUR 125 | 142,697 |
Portugal — 2.2% | ||
Banco Comercial Portugues SA, 4.00%, 05/17/32 (Call 11/17/26), (5-year EUR Swap + 4.065%)(a)(b) | EUR 100 | 101,964 |
Caixa Economica Montepio Geral Caixa Economica Bancaria SA, 8.50%, 06/12/34 (Call 03/12/29), (5-year EURIBOR ICE Swap + 5.815%)(a)(b) | EUR 100 | 109,189 |
EDP - Energias de Portugal SA | ||
1.50%, 03/14/82 (Call 12/14/26), (5-year EUR Swap + 1.888%)(a)(b) | EUR 100 | 97,056 |
1.70%, 07/20/80 (Call 04/20/25), (5-year EUR Swap + 1.840%)(a)(b) | EUR 100 | 102,918 |
1.88%, 08/02/81 (Call 05/02/26), (5-year EUR Swap + 2.380%)(a)(b) | EUR 100 | 100,311 |
1.88%, 03/14/82 (Call 06/14/29), (5-year EUR Swap + 2.080%)(a)(b) | EUR 100 | 91,692 |
5.94%, 04/23/83 (Call 01/23/28), (5-year EUR Swap + 3.184%)(a)(b) | EUR 200 | 222,218 |
Security | Par (000 ) | Value |
Portugal (continued) | ||
Novo Banco SA | ||
4.25%, 03/08/28 (Call 03/08/27), (3-mo. EURIBOR + 1.300%)(a)(b) | EUR 100 | $105,594 |
9.88%, 12/01/33 (Call 06/01/28), (5-year EUR Swap + 6.714%)(a)(b) | EUR 100 | 121,533 |
1,052,475 | ||
Slovenia — 1.1% | ||
Summer BidCo BV, 10.00%, 02/15/29 (Call 02/05/25), (10.00% Cash and 10.75% PIK)(a)(g) | EUR 100 | 107,566 |
United Group BV | ||
4.00%, 11/15/27 (Call 05/30/24)(a) | EUR 100 | 101,809 |
4.63%, 08/15/28 (Call 08/15/24)(a) | EUR 100 | 101,774 |
5.25%, 02/01/30 (Call 02/01/25)(a) | EUR 100 | 101,963 |
6.75%, 02/15/31 (Call 02/05/27)(a) | EUR 100 | 109,292 |
522,404 | ||
Spain — 5.5% | ||
Abanca Corp. Bancaria SA, 8.38%, 09/23/33 (Call 06/23/28), (5-year EURIBOR ICE Swap + 5.245%)(a)(b) | EUR 100 | 117,512 |
Banco de Credito Social Cooperativo SA | ||
1.75%, 03/09/28 (Call 03/09/27), (1-year EUR Swap + 2.150%)(a)(b) | EUR 100 | 98,070 |
5.25%, 11/27/31 (Call 05/27/26)(a)(b) | EUR 100 | 102,434 |
7.50%, 09/14/29 (Call 09/14/28), (1-year EURIBOR ICE Swap + 4.269%)(a)(b) | EUR 100 | 117,159 |
8.00%, 09/22/26 (Call 09/22/25), (1-year EUR Swap + 5.619%)(a)(b) | EUR 100 | 111,750 |
Banco de Sabadell SA | ||
2.50%, 04/15/31 (Call 01/15/26)(a)(b) | EUR 100 | 101,958 |
5.13%, 06/27/34 (Call 03/27/29), (5-year EURIBOR ICE Swap + 2.400%)(a)(b) | EUR 100 | 106,451 |
6.00%, 08/16/33 (Call 05/16/28), (5-year EUR Swap + 3.150%)(a)(b) | EUR 100 | 110,224 |
Cirsa Finance International Sarl | ||
4.50%, 03/15/27 (Call 05/10/24)(a) | EUR 100 | 104,622 |
7.88%, 07/31/28 (Call 07/19/25)(a) | EUR 100 | 112,474 |
10.38%, 11/30/27 (Call 11/09/24)(a) | EUR 90 | 103,116 |
Cirsa Finance International SARL, 6.50%, 03/15/29 (Call 02/13/26)(a) | EUR 100 | 108,654 |
Grifols SA | ||
2.25%, 11/15/27 (Call 05/30/24)(a) | EUR 100 | 93,469 |
3.20%, 05/01/25 (Call 05/24/24)(a) | EUR 100 | 106,048 |
3.88%, 10/15/28 (Call 10/15/24)(a) | EUR 250 | 210,537 |
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25), (5-year EUR Swap + 2.882%)(a)(b) | EUR 100 | 102,522 |
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a) | EUR 100 | 102,082 |
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 05/14/24)(a) | EUR 400 | 415,566 |
Unicaja Banco SA | ||
3.13%, 07/19/32 (Call 01/19/27), (5-year EUR Swap + 3.050%)(a)(b) | EUR 100 | 99,089 |
5.50%, 06/22/34 (Call 06/22/29)(a)(b) | EUR 100 | 105,610 |
7.25%, 11/15/27 (Call 11/15/26), (1-year EUR Swap + 4.250%)(a)(b) | EUR 100 | 113,034 |
2,642,381 | ||
Sweden — 3.4% | ||
Intrum AB | ||
3.00%, 09/15/27 (Call 05/10/24)(a) | EUR 200 | 129,877 |
3.50%, 07/15/26 (Call 05/10/24)(a) | EUR 175 | 120,230 |
Security | Par (000 ) | Value |
Sweden (continued) | ||
4.88%, 08/15/25 (Call 05/10/24)(a) | EUR 100 | $87,115 |
Samhallsbyggnadsbolaget i Norden AB | ||
2.25%, 08/12/27 (Call 05/12/27)(a) | EUR 100 | 71,244 |
2.38%, 09/04/26 (Call 06/04/26)(a) | EUR 100 | 80,284 |
SBB Treasury OYJ | ||
0.75%, 12/14/28 (Call 09/14/28)(a) | EUR 175 | 114,545 |
1.13%, 11/26/29 (Call 08/26/29)(a) | EUR 125 | 79,832 |
Verisure Holding AB | ||
3.25%, 02/15/27 (Call 05/10/24)(a) | EUR 150 | 153,439 |
3.88%, 07/15/26 (Call 05/10/24)(a) | EUR 100 | 105,463 |
7.13%, 02/01/28 (Call 02/01/25)(a) | EUR 100 | 111,146 |
9.25%, 10/15/27 (Call 10/15/24)(a) | EUR 100 | 113,229 |
Verisure Midholding AB, 5.25%, 02/15/29 (Call 05/10/24)(a) | EUR 150 | 153,954 |
Volvo Car AB | ||
2.50%, 10/07/27 (Call 07/07/27)(a) | EUR 100 | 100,685 |
4.25%, 05/31/28 (Call 02/28/28)(a) | EUR 100 | 106,341 |
4.75%, 05/08/30(a) | EUR 100 | 106,720 |
1,634,104 | ||
Switzerland — 0.7% | ||
Dufry One BV | ||
2.00%, 02/15/27 (Call 05/30/24)(a) | EUR 100 | 100,484 |
3.38%, 04/15/28 (Call 05/30/24)(a) | EUR 100 | 102,690 |
4.75%, 04/18/31 (Call 04/18/27)(a) | EUR 100 | 107,334 |
310,508 | ||
United Kingdom — 12.4% | ||
888 Acquisitions Ltd., 7.56%, 07/15/27 (Call 07/15/24)(a) | EUR 100 | 102,825 |
Ardonagh Finco Ltd., 6.88%, 02/15/31 (Call 02/15/27)(a) | EUR 100 | 102,828 |
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28 (Call 11/30/24)(a) | EUR 200 | 200,558 |
Bellis Acquisition Co. PLC | ||
3.25%, 02/16/26 (Call 05/30/24)(a) | GBP 300 | 368,170 |
4.50%, 02/16/26 (Call 02/24/25)(a) | GBP 100 | 124,237 |
Bellis Finco PLC, 4.00%, 02/16/27 (Call 05/30/24)(a) | GBP 100 | 115,458 |
British Telecommunications PLC | ||
1.87%, 08/18/80 (Call 05/18/25), (5-year EUR Swap + 2.130%)(a)(b) | EUR 100 | 102,708 |
5.13%, 10/03/54 (Call 07/03/29), (5-year EURIBOR ICE Swap + 2.542%)(a)(b) | EUR 100 | 105,847 |
8.38%, 12/20/83 (Call 09/20/28), (5-year GUK + 3.820%)(a)(b) | GBP 125 | 164,959 |
Canary Wharf Group Investment Holdings PLC, 3.38%, 04/23/28 (Call 01/23/28)(a) | GBP 100 | 92,119 |
Deuce Finco PLC, 5.50%, 06/15/27 (Call 05/30/24)(a) | GBP 100 | 117,840 |
eG Global Finance PLC, 11.00%, 11/30/28 (Call 05/30/26)(a) | EUR 100 | 109,231 |
Heathrow Finance PLC | ||
3.88%, 03/01/27(a)(h) | GBP 100 | 116,591 |
6.63%, 03/01/31 (Call 12/01/30)(a) | GBP 100 | 121,593 |
Iceland Bondco PLC, 4.38%, 05/15/28 (Call 05/10/24)(a) | GBP 100 | 102,552 |
INEOS Quattro Finance 2 PLC | ||
2.50%, 01/15/26 (Call 05/10/24)(a) | EUR 100 | 103,015 |
8.50%, 03/15/29 (Call 11/15/25)(a) | EUR 100 | 111,438 |
INEOS Styrolution Ludwigshafen GmbH, 2.25%, 01/16/27 (Call 05/10/24)(a) | EUR 100 | 98,111 |
International Consolidated Airlines Group SA | ||
2.75%, 03/25/25 (Call 12/25/24)(a) | EUR 100 | 105,289 |
3.75%, 03/25/29 (Call 12/25/28)(a) | EUR 100 | 104,311 |
Jaguar Land Rover Automotive PLC | ||
4.50%, 01/15/26 (Call 10/15/25)(a) | EUR 150 | 159,910 |
Security | Par (000 ) | Value |
United Kingdom (continued) | ||
4.50%, 07/15/28 (Call 07/15/24)(a) | EUR 100 | $105,099 |
Jerrold Finco PLC, 7.88%, 04/15/30 (Call 04/15/26)(a) | GBP 150 | 184,415 |
Market Bidco Finco PLC, 5.50%, 11/04/27 (Call 11/04/24)(a) | GBP 200 | 224,612 |
Miller Homes Group Finco PLC, 7.00%, 05/15/29 (Call 05/15/25)(a) | GBP 100 | 114,891 |
Motion Finco Sarl, 7.38%, 06/15/30 (Call 06/15/26)(a) | EUR 125 | 138,357 |
NGG Finance PLC | ||
2.13%, 09/05/82 (Call 06/05/27)(a)(b) | EUR 100 | 97,330 |
5.63%, 06/18/73 (Call 06/18/25), (12-year GBP Swap + 3.480%)(a)(b) | GBP 200 | 246,654 |
Pinnacle Bidco PLC | ||
8.25%, 10/11/28 (Call 10/11/25)(a) | EUR 100 | 111,269 |
10.00%, 10/11/28 (Call 10/11/25)(a) | GBP 100 | 129,766 |
Sherwood Financing PLC, 4.50%, 11/15/26 (Call 05/30/24)(a) | EUR 100 | 93,213 |
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 05/30/24)(a) | GBP 200 | 239,348 |
Virgin Media Finance PLC, 3.75%, 07/15/30 (Call 07/15/25)(a) | EUR 100 | 90,953 |
Virgin Media Secured Finance PLC | ||
4.13%, 08/15/30 (Call 08/15/25)(a) | GBP 100 | 103,007 |
5.00%, 04/15/27 (Call 05/10/24)(a) | GBP 100 | 122,416 |
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (Call 05/30/24)(a) | GBP 100 | 111,450 |
Vmed O2 UK Financing I PLC | ||
3.25%, 01/31/31 (Call 01/31/26)(a) | EUR 100 | 91,860 |
4.00%, 01/31/29 (Call 05/10/24)(a) | GBP 100 | 108,011 |
4.50%, 07/15/31 (Call 07/15/26)(a) | GBP 200 | 206,719 |
5.63%, 04/15/32 (Call 04/15/27)(a) | EUR 100 | 103,716 |
Vodafone Group PLC | ||
2.63%, 08/27/80 (Call 05/27/26), (5-year EUR Swap + 3.002%)(a)(b) | EUR 100 | 102,092 |
3.00%, 08/27/80 (Call 05/27/30), (5-year EUR Swap + 3.477%)(a)(b) | EUR 150 | 144,035 |
4.20%, 10/03/78 (Call 07/03/28), (5-year EUR Swap + 3.427%)(a)(b) | EUR 100 | 103,892 |
6.50%, 08/30/84 (Call 05/30/29), (5-year EUR Swap + 3.489%)(a)(b) | EUR 100 | 113,925 |
8.00%, 08/30/86 (Call 05/30/31), (5-year GUK + 3.837%)(a)(b) | GBP 100 | 132,849 |
5,949,469 | ||
United States — 12.3% | ||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL, 3.63%, 06/01/28 (Call 06/01/24)(a) | EUR 100 | 97,528 |
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 3.00%, 09/01/29 (Call 05/31/24)(a) | EUR 100 | 85,404 |
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. | ||
2.13%, 08/15/26 (Call 05/31/24)(a) | EUR 200 | 168,274 |
4.75%, 07/15/27 (Call 05/10/24)(a) | GBP 100 | 60,417 |
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a) | EUR 100 | 96,957 |
Avantor Funding Inc., 2.63%, 11/01/25 (Call 05/10/24)(a) | EUR 100 | 103,944 |
Avis Budget Finance PLC | ||
7.00%, 02/28/29 (Call 02/28/26)(a) | EUR 100 | 105,256 |
7.25%, 07/31/30 (Call 07/31/26)(a) | EUR 100 | 105,159 |
Ball Corp., 1.50%, 03/15/27 (Call 12/15/26) | EUR 100 | 100,291 |
Belden Inc., 3.88%, 03/15/28 (Call 05/30/24)(a) | EUR 150 | 155,725 |
Security | Par (000 ) | Value |
United States (continued) | ||
Boxer Parent Co. Inc., 6.50%, 10/02/25 (Call 05/30/24)(a) | EUR 100 | $106,298 |
Brookfield Property Finance ULC | ||
3.93%, 08/24/25 (Call 07/24/25) | CAD 75 | 52,835 |
4.00%, 09/30/26 (Call 08/30/26) | CAD 75 | 51,530 |
7.13%, 02/13/28 (Call 01/13/28) | CAD 125 | 92,319 |
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29) | EUR 100 | 83,943 |
Catalent Pharma Solutions Inc., 2.38%, 03/01/28 (Call 05/30/24)(a) | EUR 150 | 151,415 |
Chemours Co. (The), 4.00%, 05/15/26 (Call 05/30/24) | EUR 100 | 101,928 |
Clarios Global LP/Clarios U.S. Finance Co., 4.38%, 05/15/26 (Call 05/31/24)(a) | EUR 100 | 105,487 |
Constellium SE, 3.13%, 07/15/29 (Call 07/15/24)(a) | EUR 100 | 98,295 |
Coty Inc. | ||
3.88%, 04/15/26 (Call 05/10/24)(a) | EUR 100 | 105,655 |
5.75%, 09/15/28 (Call 09/15/25)(a) | EUR 100 | 110,192 |
Crown European Holdings SA | ||
3.38%, 05/15/25 (Call 11/15/24)(a) | EUR 100 | 105,808 |
4.75%, 03/15/29 (Call 12/15/28)(a) | EUR 100 | 108,186 |
5.00%, 05/15/28 (Call 04/15/28)(a) | EUR 100 | 109,398 |
Dana Financing Luxembourg Sarl, 8.50%, 07/15/31 (Call 07/15/26)(a) | EUR 100 | 116,109 |
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/10/24)(a) | EUR 100 | 105,221 |
EMRLD Borrower LP/Emerald Co-Issuer Inc., 6.38%, 12/15/30 (Call 06/15/26)(a) | EUR 100 | 111,503 |
Encore Capital Group Inc. | ||
4.88%, 10/15/25 (Call 05/10/24)(a) | EUR 100 | 105,090 |
5.38%, 02/15/26 (Call 05/10/24)(a) | GBP 100 | 120,885 |
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/30/24)(a) | EUR 100 | 95,047 |
Ford Credit Canada Co., 7.00%, 02/10/26 | CAD 50 | 37,058 |
Goodyear Europe BV, 2.75%, 08/15/28 (Call 08/15/24)(a) | EUR 100 | 95,236 |
International Game Technology PLC, 3.50%, 06/15/26 (Call 05/30/24)(a) | EUR 150 | 157,388 |
IQVIA Inc. | ||
1.75%, 03/15/26 (Call 05/30/24)(a) | EUR 100 | 102,163 |
2.25%, 01/15/28 (Call 05/10/24)(a) | EUR 150 | 148,359 |
2.25%, 03/15/29 (Call 05/10/24)(a) | EUR 200 | 192,802 |
2.88%, 09/15/25 (Call 05/10/24)(a) | EUR 100 | 104,708 |
Iron Mountain UK PLC, 3.88%, 11/15/25 (Call 05/10/24)(a) | GBP 100 | 121,282 |
Levi Strauss & Co., 3.38%, 03/15/27 (Call 05/10/24) | EUR 100 | 104,659 |
MPT Operating Partnership LP/MPT Finance Corp. | ||
2.50%, 03/24/26 (Call 02/22/26) | GBP 100 | 107,517 |
3.33%, 03/24/25 (Call 12/24/24) | EUR 100 | 100,474 |
3.69%, 06/05/28 (Call 04/06/28) | GBP 100 | 93,794 |
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 05/10/24)(a) | EUR 100 | 100,240 |
OI European Group BV, 6.25%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 110,962 |
Olympus Water U.S. Holding Corp. | ||
3.88%, 10/01/28 (Call 10/01/24)(a) | EUR 100 | 98,337 |
9.63%, 11/15/28 (Call 06/01/25)(a) | EUR 100 | 113,467 |
Organon & Co./Organon Foreign Debt Co.-Issuer BV, 2.88%, 04/30/28 (Call 05/10/24)(a) | EUR 200 | 197,870 |
SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 07/15/28 (Call 07/15/25)(a) | EUR 100 | 115,423 |
Security | Par (000 ) | Value |
United States (continued) | ||
Silgan Holdings Inc., 2.25%, 06/01/28 (Call 05/15/24) | EUR 100 | $97,835 |
Spectrum Brands Inc., 4.00%, 10/01/26 (Call 05/30/24)(a) | EUR 100 | 105,343 |
Standard Industries Inc./NJ, 2.25%, 11/21/26 (Call 08/21/26)(a) | EUR 100 | 100,638 |
Walgreens Boots Alliance Inc. | ||
2.13%, 11/20/26 (Call 08/20/26) | EUR 125 | 125,967 |
3.60%, 11/20/25 (Call 08/20/25) | GBP 100 | 119,881 |
WMG Acquisition Corp., 2.25%, 08/15/31 (Call 08/15/26)(a) | EUR 100 | 92,664 |
5,860,166 | ||
Total Corporate Bonds & Notes — 97.1% (Cost: $49,224,847) | 46,425,681 | |
Shares | ||
Common Stocks | ||
Supranational — 0.0% | ||
Sentry Holdings Ltd.(e) | 25 | — |
Total Common Stocks — 0.0% (Cost: $159,437) | — | |
Total Long-Term Investments — 97.1% (Cost: $49,384,284) | 46,425,681 | |
Short-Term Securities | ||
Money Market Funds — 0.0% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(i)(j) | 10,000 | 10,000 |
Total Short-Term Securities — 0.0% (Cost: $10,000) | 10,000 | |
Total Investments — 97.1% (Cost: $49,394,284) | 46,435,681 | |
Other Assets Less Liabilities — 2.9% | 1,395,152 | |
Net Assets — 100.0% | $47,830,833 |
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | Issuer filed for bankruptcy and/or is in default. |
(e) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(f) | Non-income producing security. |
(g) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(h) | 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. |
(i) | Affiliate of the Fund. |
(j) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/24 | Shares Held at 04/30/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Treasury, SL Agency Shares | $10,000 | $0 (a) | $— | $— | $— | $10,000 | 10,000 | $628 | $— |
(a) | Represents net amount purchased (sold). |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Corporate Bonds & Notes | $— | $46,425,681 | $— | $46,425,681 |
Common Stocks | — | — | — | — |
Short-Term Securities | ||||
Money Market Funds | 10,000 | — | — | 10,000 |
$10,000 | $46,425,681 | $— | $46,435,681 |
Security | Par (000 ) | Value |
Corporate Bonds & Notes | ||
Argentina — 1.1% | ||
Pampa Energia SA, 7.50%, 01/24/27 (Call 05/30/24)(a) | $600 | $573,375 |
YPF SA | ||
6.95%, 07/21/27(a) | 800 | 724,500 |
7.00%, 09/30/33(a)(b) | 525 | 454,946 |
7.00%, 12/15/47 (Call 06/15/47)(a) | 540 | 391,331 |
8.50%, 07/28/25(a) | 970 | 944,780 |
9.00%, 06/30/29(a)(b) | 700 | 691,906 |
9.50%, 01/17/31(a) | 750 | 756,019 |
4,536,857 | ||
Australia — 0.2% | ||
AngloGold Ashanti Holdings PLC | ||
3.38%, 11/01/28 (Call 09/01/28) | 400 | 357,800 |
3.75%, 10/01/30 (Call 07/01/30) | 500 | 431,406 |
789,206 | ||
Bahrain — 0.1% | ||
AUB Sukuk Ltd., 2.62%, 09/09/26(a) | 600 | 556,326 |
Brazil — 5.0% | ||
Acu Petroleo Luxembourg SARL, 7.50%, 07/13/35 (Call 01/13/27)(a) | 243 | 231,895 |
Adecoagro SA, 6.00%, 09/21/27(a) | 150 | 144,844 |
Aegea Finance SARL | ||
6.75%, 05/20/29 (Call 05/20/25)(a) | 200 | 192,970 |
9.00%, 01/20/31 (Call 01/20/27)(a) | 200 | 210,060 |
Amaggi Luxembourg International SARL, 5.25%, 01/28/28(a) | 200 | 187,625 |
Ambipar Lux SARL, 9.88%, 02/06/31 (Call 02/06/27)(a) | 200 | 198,062 |
Azul Secured Finance LLP | ||
10.88%, 05/28/30 (Call 05/28/26)(a) | 200 | 162,875 |
11.93%, 08/28/28 (Call 02/28/26)(a) | 200 | 199,000 |
B3 SA - Brasil Bolsa Balcao, 4.13%, 09/20/31(a) | 200 | 171,382 |
Banco Bradesco SA/Cayman Islands, 4.38%, 03/18/27(a) | 200 | 192,500 |
Banco BTG Pactual SA/Cayman Islands, 2.75%, 01/11/26 (Call 12/11/25)(a) | 200 | 188,500 |
Banco do Brasil SA/Cayman | ||
3.25%, 09/30/26(a) | 200 | 188,000 |
4.88%, 01/11/29(a) | 200 | 187,500 |
6.00%, 03/18/31(c) | 200 | 193,740 |
6.25%, 04/18/30(a) | 200 | 198,250 |
8.75%, (Call 10/15/24), (10-year CMT + 4.398%)(a)(b)(d) | 400 | 403,400 |
9.00%, (Call 06/18/24), (10-year CMT + 6.362%)(a)(b)(d) | 400 | 400,000 |
Banco Votorantim SA, 4.38%, 07/29/25(a) | 200 | 194,400 |
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)(a) | 200 | 178,687 |
Braskem Netherlands Finance BV | ||
4.50%, 01/10/28 (Call 10/10/27)(a) | 400 | 356,500 |
4.50%, 01/31/30 (Call 10/31/29)(a) | 400 | 337,820 |
5.88%, 01/31/50(a) | 200 | 148,938 |
7.25%, 02/13/33 (Call 11/13/32)(a) | 600 | 568,800 |
8.50%, 01/23/81 (Call 10/24/25), (5-year CMT + 8.220%)(a)(b) | 200 | 195,812 |
BRF SA | ||
4.88%, 01/24/30 (Call 10/24/29)(a) | 200 | 176,500 |
5.75%, 09/21/50 (Call 03/21/50)(a) | 200 | 151,125 |
Security | Par (000 ) | Value |
Brazil (continued) | ||
Centrais Eletricas Brasileiras SA, 4.63%, 02/04/30(a) | $200 | $179,340 |
Cosan Luxembourg SA | ||
5.50%, 09/20/29 (Call 09/20/24)(a) | 200 | 188,000 |
7.25%, 06/27/31(a) | 200 | 199,990 |
7.50%, 06/27/30 (Call 06/27/26)(a) | 200 | 202,050 |
Cosan Overseas Ltd., 8.25%, (Call 08/05/24)(a)(d) | 100 | 101,387 |
CSN Inova Ventures, 6.75%, 01/28/28 (Call 05/30/24)(a) | 400 | 379,625 |
CSN Resources SA | ||
4.63%, 06/10/31 (Call 06/10/26)(a) | 200 | 156,688 |
5.88%, 04/08/32(a) | 200 | 166,562 |
8.88%, 12/05/30 (Call 12/05/26)(a) | 200 | 199,233 |
Embraer Netherlands Finance BV | ||
5.40%, 02/01/27(e) | 230 | 226,478 |
7.00%, 07/28/30 (Call 04/28/30)(a) | 200 | 204,875 |
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a) | 200 | 174,250 |
Guara Norte Sarl, 5.20%, 06/15/34(a) | 171 | 154,124 |
GUSAP III LP, 4.25%, 01/21/30 (Call 07/21/29)(a) | 200 | 180,700 |
Itau Unibanco Holding SA/Cayman Island | ||
3.88%, 04/15/31 (Call 01/15/26), (5-year CMT + 3.446%)(a)(b) | 200 | 188,470 |
4.50%, 11/21/29 (Call 11/21/24), (5-year CMT + 2.822%)(a)(b) | 200 | 197,125 |
4.63%, (Call 02/27/25), (5-year CMT + 3.222%)(a)(b)(d) | 200 | 187,902 |
7.72%, (Call 06/12/24), (5-year CMT + 3.981%)(a)(b)(d) | 200 | 198,875 |
7.86%, , (5-year CMT + 3.863%)(a)(b)(d) | 200 | 198,000 |
Klabin Austria GmbH | ||
3.20%, 01/12/31 (Call 10/12/30)(a) | 200 | 163,470 |
5.75%, 04/03/29 (Call 01/03/29)(a) | 200 | 195,340 |
7.00%, 04/03/49 (Call 10/03/48)(a) | 200 | 193,970 |
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a) | 400 | 320,500 |
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(a) | 380 | 328,485 |
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30) | 200 | 164,040 |
Minerva Luxembourg SA | ||
4.38%, 03/18/31(a) | 400 | 325,875 |
8.88%, 09/13/33 (Call 09/13/28)(a) | 200 | 205,160 |
NBM U.S. Holdings Inc., 7.00%, 05/14/26 (Call 05/30/24)(a) | 200 | 199,937 |
Petrobras Global Finance BV | ||
5.09%, 01/15/30(e) | 250 | 233,750 |
5.50%, 06/10/51 (Call 12/10/50)(e) | 150 | 115,137 |
5.60%, 01/03/31 (Call 10/03/30)(e) | 350 | 331,957 |
6.00%, 01/27/28(e) | 295 | 292,972 |
6.50%, 07/03/33 (Call 04/03/33)(e) | 300 | 294,688 |
6.75%, 01/27/41(e) | 150 | 142,860 |
6.85%, 06/05/2115 | 425 | 367,742 |
6.88%, 01/20/40 | 200 | 192,349 |
6.90%, 03/19/49(e) | 200 | 185,375 |
7.25%, 03/17/44(e) | 250 | 244,922 |
7.38%, 01/17/27 | 150 | 154,266 |
Petrorio Luxembourg Trading Sarl, 6.13%, 06/09/26(a) | 200 | 195,940 |
Raizen Fuels Finance SA | ||
6.45%, 03/05/34 (Call 12/05/33)(c) | 200 | 199,100 |
6.95%, 03/05/54 (Call 09/05/53)(a) | 200 | 194,600 |
Rede D'or Finance Sarl | ||
4.50%, 01/22/30 (Call 10/22/29)(a) | 200 | 175,470 |
Security | Par (000 ) | Value |
Brazil (continued) | ||
4.95%, 01/17/28 (Call 10/17/27)(a) | $200 | $188,375 |
Rumo Luxembourg Sarl, 5.25%, 01/10/28(a) | 200 | 190,000 |
Samarco Mineracao SA, 9.50%, 06/30/31 (Call 05/16/24), (9.00% PIK)(c)(f) | 1,030 | 939,280 |
Simpar Europe SA, 5.20%, 01/26/31(a) | 200 | 159,000 |
Sitios Latinoamerica SAB de CV, 5.38%, 04/04/32(a) | 400 | 364,474 |
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(a) | 200 | 170,166 |
Suzano Austria GmbH | ||
2.50%, 09/15/28 (Call 07/15/28) | 100 | 86,906 |
3.13%, 01/15/32 (Call 10/15/31)(e) | 300 | 241,800 |
3.75%, 01/15/31 (Call 10/15/30)(e) | 500 | 430,900 |
5.00%, 01/15/30 (Call 10/15/29) | 200 | 188,200 |
5.75%, 07/14/26(a) | 200 | 198,840 |
6.00%, 01/15/29 (Call 10/15/28) | 200 | 197,940 |
7.00%, 03/16/47 (Call 09/16/46)(a) | 400 | 404,600 |
Suzano International Finance BV, 5.50%, 01/17/27 | 300 | 295,455 |
Usiminas International Sarl, 5.88%, 07/18/26 (Call 05/30/24)(a) | 200 | 195,833 |
Vale Overseas Ltd. | ||
3.75%, 07/08/30 (Call 04/08/30) | 450 | 393,750 |
6.13%, 06/12/33 (Call 03/12/33) | 350 | 343,665 |
6.88%, 11/21/36 | 383 | 391,694 |
6.88%, 11/10/39 | 350 | 359,002 |
8.25%, 01/17/34(e) | 200 | 226,600 |
XP Inc., 3.25%, 07/01/26(a) | 200 | 186,750 |
21,213,994 | ||
British Virgin Islands — 0.0% | ||
Joy Treasure Assets Holdings Inc., 5.50%, 02/01/27 (Call 11/01/26)(a) | 200 | 197,020 |
Burkina Faso — 0.1% | ||
Endeavour Mining PLC, 5.00%, 10/14/26(a) | 400 | 375,500 |
Canada — 0.0% | ||
CCCI Treasure Ltd., 3.65%, (Call 11/21/26), (5-year CMT + 5.117%)(a)(b)(d) | 200 | 190,469 |
Cayman Islands — 0.5% | ||
Al Rajhi Sukuk Ltd., 5.05%, 03/12/29(a) | 400 | 391,125 |
Alinma Tier 1 Sukuk Ltd., 6.50%, (Call 03/06/29), (5-year CMT + 2.201%)(a)(b)(d) | 400 | 401,875 |
Doha Finance Ltd., 5.25%, 03/12/29(a) | 400 | 391,875 |
QNB Finance Ltd., 6.56%, 04/02/29, (1-day SOFR + 1.200%)(b) | 800 | 800,064 |
SNB Sukuk Ltd., 5.13%, 02/27/29(a) | 200 | 196,375 |
2,181,314 | ||
Chile — 3.8% | ||
AES Andes SA, 6.30%, 03/15/29 (Call 02/15/29)(c) | 200 | 196,943 |
AES Andes SA., 7.13%, 03/26/79 (Call 05/20/24), (5-year USD Swap + 4.644%)(a)(b) | 400 | 396,625 |
Agrosuper SA, 4.60%, 01/20/32 (Call 10/20/31)(a) | 400 | 335,625 |
Alfa Desarrollo SpA, 4.55%, 09/27/51 (Call 03/27/51)(a) | 795 | 579,877 |
Antofagasta PLC | ||
2.38%, 10/14/30(a) | 200 | 159,970 |
5.63%, 05/13/32(a) | 600 | 577,056 |
6.25%, 05/02/34 (Call 02/02/34)(c) | 200 | 198,800 |
Banco de Chile, 2.99%, 12/09/31(a) | 400 | 336,250 |
Banco de Credito e Inversiones SA | ||
2.88%, 10/14/31 (Call 07/14/31)(a)(e) | 400 | 332,750 |
3.50%, 10/12/27(a)(e) | 400 | 372,875 |
Security | Par (000 ) | Value |
Chile (continued) | ||
8.75%, (Call 02/08/29), (5-year CMT + 4.944%)(a)(b)(d)(e) | $400 | $408,848 |
Banco Santander Chile, 3.18%, 10/26/31 (Call 07/28/31)(a)(e) | 400 | 342,000 |
Celulosa Arauco y Constitucion SA | ||
4.20%, 01/29/30 (Call 10/29/29)(a) | 400 | 357,400 |
4.25%, 04/30/29 (Call 01/30/29)(a) | 400 | 362,800 |
5.15%, 01/29/50 (Call 07/29/49)(a) | 400 | 312,500 |
5.50%, 04/30/49 (Call 10/30/48)(a) | 400 | 324,000 |
Cencosud SA, 4.38%, 07/17/27 (Call 04/17/27)(a) | 800 | 762,000 |
Chile Electricity Lux MPC Sarl, 6.01%, 01/20/33(a) | 600 | 597,750 |
Cia. Cervecerias Unidas SA, 3.35%, 01/19/32 (Call 10/19/31)(a) | 550 | 462,859 |
Colbun SA | ||
3.15%, 03/06/30 (Call 12/06/29)(a) | 400 | 344,250 |
3.15%, 01/19/32 (Call 10/19/31)(a) | 400 | 329,240 |
3.95%, 10/11/27 (Call 07/11/27)(a) | 400 | 380,000 |
Empresa Nacional de Telecomunicaciones SA | ||
3.05%, 09/14/32 (Call 06/14/32)(a) | 600 | 466,500 |
4.75%, 08/01/26 (Call 05/03/26)(a) | 400 | 390,250 |
Enel Americas SA, 4.00%, 10/25/26 (Call 07/25/26) | 562 | 537,764 |
Enel Chile SA, 4.88%, 06/12/28 (Call 03/12/28) | 800 | 761,000 |
Engie Energia Chile SA, 3.40%, 01/28/30 (Call 10/28/29)(a) | 400 | 341,250 |
Falabella SA, 3.38%, 01/15/32 (Call 10/15/31)(a) | 400 | 305,740 |
GNL Quintero SA, 4.63%, 07/31/29(a) | 647 | 622,995 |
Interchile SA, 4.50%, 06/30/56 (Call 12/30/55)(a) | 900 | 722,250 |
Inversiones CMPC SA | ||
3.00%, 04/06/31 (Call 01/06/31)(a) | 400 | 331,375 |
3.85%, 01/13/30 (Call 10/13/29)(a) | 400 | 358,000 |
4.38%, 04/04/27(a)(e) | 400 | 380,940 |
6.13%, 06/23/33 (Call 03/23/33)(a) | 400 | 396,724 |
6.13%, 02/26/34 (Call 11/26/33)(c) | 200 | 197,000 |
Latam Airlines Group SA, 13.38%, 10/15/29(a) | 600 | 687,375 |
Sociedad Quimica y Minera de Chile SA | ||
3.50%, 09/10/51 (Call 03/10/51)(a) | 600 | 376,875 |
6.50%, 11/07/33 (Call 08/07/33)(a) | 600 | 603,000 |
Telefonica Moviles Chile SA, 3.54%, 11/18/31(a) | 450 | 337,219 |
16,286,675 | ||
China — 9.1% | ||
Agricultural Bank of China Ltd./New York, 5.98%, 01/24/27, (1-day SOFR Index + 0.630%)(a)(b) | 200 | 200,672 |
Alibaba Group Holding Ltd. | ||
2.13%, 02/09/31 (Call 11/09/30)(e) | 400 | 323,288 |
2.70%, 02/09/41 (Call 08/09/40) | 200 | 132,178 |
3.15%, 02/09/51 (Call 08/09/50) | 200 | 125,162 |
3.25%, 02/09/61 (Call 08/09/60) | 200 | 119,034 |
3.40%, 12/06/27 (Call 09/06/27) | 500 | 467,050 |
4.00%, 12/06/37 (Call 06/06/37) | 200 | 166,388 |
4.20%, 12/06/47 (Call 06/06/47)(e) | 400 | 311,172 |
4.40%, 12/06/57 (Call 06/06/57) | 200 | 154,278 |
4.50%, 11/28/34 (Call 05/28/34) | 200 | 181,962 |
Amipeace Ltd. | ||
1.75%, 11/09/26(a) | 400 | 364,540 |
2.25%, 10/22/30(a) | 200 | 166,362 |
Baidu Inc. | ||
2.38%, 08/23/31 (Call 05/23/31) | 200 | 161,916 |
4.13%, 06/30/25 | 200 | 195,972 |
4.38%, 03/29/28 (Call 12/29/27) | 200 | 192,952 |
Bank of China Ltd./Hong Kong, 3.88%, 06/30/25(a) | 200 | 195,878 |
Bank of China Ltd./Luxembourg, 1.40%, 04/28/26(a) | 400 | 369,724 |
Security | Par (000 ) | Value |
China (continued) | ||
Bank of China Ltd./New York, 4.63%, 06/26/26(a) | $200 | $196,592 |
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25), (5-year CMT + 3.345%)(a)(b)(d) | 600 | 580,500 |
Bank of Communications Co. Ltd./Hong Kong | ||
1.20%, 09/10/25(a) | 200 | 188,375 |
4.88%, 02/28/26(a) | 200 | 197,812 |
BOC Aviation Ltd. | ||
1.75%, 01/21/26 (Call 12/21/25)(a) | 300 | 280,203 |
2.63%, 09/17/30 (Call 06/17/30)(a)(e) | 600 | 505,392 |
3.00%, 09/11/29 (Call 06/11/29)(a)(e) | 500 | 441,155 |
3.50%, 09/18/27 (Call 06/18/27)(a) | 600 | 560,946 |
3.88%, 04/27/26 (Call 01/27/26)(a) | 500 | 481,810 |
4.50%, 05/23/28 (Call 04/23/28)(a) | 400 | 384,652 |
BOC Aviation USA Corp. | ||
4.88%, 05/03/33 (Call 02/03/33)(a) | 400 | 380,688 |
5.00%, 01/17/29 (Call 12/17/28)(a) | 400 | 391,628 |
5.75%, 11/09/28 (Call 10/09/28)(a) | 600 | 604,932 |
BOCOM International Blossom Ltd., 1.75%, 06/28/26(a) | 200 | 183,188 |
CCBL Cayman 1 Corp. Ltd., 1.80%, 07/22/26(a) | 200 | 183,625 |
CCCI Treasure Ltd., 3.43%, (Call 11/21/24), (5-year CMT + 4.998%)(a)(b)(d) | 200 | 196,187 |
CDBL Funding 2, 2.00%, 03/04/26(a) | 200 | 187,252 |
Central Plaza Development Ltd., 4.65%, 01/19/26 (Call 10/19/25)(a) | 200 | 176,563 |
Chalco Hong Kong Investment Co. Ltd., 2.10%, 07/28/26 (Call 06/28/26)(a) | 200 | 184,750 |
Charming Light Investments Ltd., 4.38%, 12/21/27(a) | 200 | 188,996 |
China Cinda 2020 I Management Ltd. | ||
3.00%, 01/20/31 (Call 10/20/30)(a) | 200 | 166,500 |
3.13%, 03/18/30 (Call 12/18/29)(a) | 200 | 171,076 |
3.25%, 01/28/27 (Call 10/28/26)(a) | 200 | 186,328 |
China Cinda Finance 2017 I Ltd. | ||
4.75%, 02/08/28(a) | 200 | 191,276 |
4.75%, 02/21/29(a) | 200 | 189,218 |
China Construction Bank Corp. | ||
2.45%, 06/24/30 (Call 06/24/25), (5-year CMT + 2.150%)(a)(b) | 600 | 577,800 |
2.85%, 01/21/32 (Call 01/21/27), (5-year CMT + 1.400%)(a)(b) | 600 | 561,156 |
China Construction Bank Corp./Hong Kong | ||
1.25%, 08/04/25(a) | 200 | 189,302 |
1.46%, 04/22/26(a) | 200 | 185,202 |
China Development Bank Financial Leasing Co. Ltd., 2.88%, 09/28/30 (Call 09/28/25), (5-year CMT + 2.750%)(a)(b) | 200 | 190,750 |
China Everbright Bank Co. Ltd./Sydney, 5.98%, 09/20/26, (1-day SOFR + 0.630%)(a)(b) | 200 | 200,140 |
China Great Wall International Holdings III Ltd., 3.88%, 08/31/27(a) | 200 | 182,250 |
China Mengniu Dairy Co. Ltd., 1.88%, 06/17/25 (Call 05/17/25)(a) | 200 | 191,078 |
China Merchants Bank Co. Ltd./Hong Kong, 1.20%, 09/10/25(a) | 200 | 188,206 |
China Modern Dairy Holdings Ltd., 2.13%, 07/14/26 (Call 06/14/26)(a) | 200 | 180,875 |
China Overseas Finance Cayman VI Ltd., 6.45%, 06/11/34(a) | 200 | 196,375 |
China Overseas Finance Cayman VIII Ltd., 2.75%, 03/02/30(a) | 200 | 166,750 |
China Railway Xunjie Co. Ltd., 4.00%, 07/06/27(a) | 200 | 191,672 |
Security | Par (000 ) | Value |
China (continued) | ||
China Resources Land Ltd., 3.75%, (Call 12/09/24), (5-year CMT + 5.139%)(a)(b)(d) | $400 | $393,375 |
China State Construction Finance Cayman I Ltd., 3.40%, (Call 06/08/26), (5-year CMT + 5.581%)(a)(b)(d) | 200 | 191,156 |
China Taiping Insurance Holdings Co. Ltd., 6.40%, (Call 03/09/28), (5-year CMT + 2.072%)(a)(b)(d) | 400 | 414,125 |
CICC Hong Kong Finance 2016 MTN Ltd. | ||
5.42%, 11/22/25(a) | 400 | 397,000 |
5.44%, 07/18/26(a) | 200 | 199,154 |
5.49%, 03/01/26(a) | 200 | 199,250 |
6.30%, 01/18/27, (1-day SOFR Index + 0.950%)(a)(b) | 200 | 201,125 |
CITIC Ltd. | ||
2.85%, 02/25/30(a) | 200 | 173,924 |
2.88%, 02/17/27 (Call 01/17/27)(a) | 400 | 373,232 |
3.88%, 02/28/27(a) | 200 | 191,638 |
CMB International Leasing Management Ltd., 1.88%, 08/12/25(a) | 200 | 190,048 |
CMHI Finance BVI Co. Ltd. | ||
4.00%, 06/01/27 (Call 05/01/27)(a) | 200 | 191,554 |
5.00%, 08/06/28(a) | 200 | 196,875 |
CNOOC Finance 2013 Ltd. | ||
2.88%, 09/30/29 (Call 06/30/29) | 200 | 178,500 |
3.30%, 09/30/49 (Call 03/30/49) | 200 | 141,188 |
CNOOC Finance 2015 USA LLC, 4.38%, 05/02/28 | 400 | 387,750 |
CNOOC Petroleum North America ULC | ||
5.88%, 03/10/35 | 200 | 209,687 |
6.40%, 05/15/37 | 400 | 438,880 |
7.50%, 07/30/39(e) | 150 | 179,953 |
CNPC HK Overseas Capital Ltd., 5.95%, 04/28/41(a) | 200 | 209,312 |
Contemporary Ruiding Development Ltd. | ||
1.50%, 09/09/26(a) | 200 | 181,125 |
1.88%, 09/17/25 (Call 08/17/25)(a) | 200 | 189,312 |
COSL Singapore Capital Ltd., 4.50%, 07/30/25(a) | 200 | 196,750 |
CSCEC Finance Cayman II Ltd., 3.50%, 07/05/27(a) | 200 | 188,187 |
Easy Tactic Ltd. | ||
6.50%, 07/11/27 (Call 05/30/24), (7.50% PIK)(f) | 385 | 11,544 |
6.50%, 07/11/28 (Call 05/30/24), (7.50% PIK)(f) | 167 | 5,025 |
ENN Clean Energy International Investment Ltd., 3.38%, 05/12/26 (Call 05/30/24)(a) | 200 | 189,125 |
ENN Energy Holdings Ltd., 4.63%, 05/17/27 (Call 04/17/27)(a) | 200 | 193,750 |
Fortune Star BVI Ltd., 5.95%, 10/19/25 (Call 05/30/24)(a) | 400 | 373,875 |
Franshion Brilliant Ltd., 4.25%, 07/23/29(a) | 200 | 138,000 |
Fuqing Investment Management Ltd., 3.25%, 06/23/25(a) | 200 | 179,875 |
GLP China Holdings Ltd., 2.95%, 03/29/26(a) | 200 | 167,938 |
Horse Gallop Finance Ltd., 1.70%, 07/28/25(a) | 200 | 189,750 |
Huarong Finance 2017 Co. Ltd. | ||
4.25%, 11/07/27(a) | 400 | 363,375 |
4.75%, 04/27/27(a) | 200 | 187,750 |
Huarong Finance 2019 Co. Ltd., 4.50%, 05/29/29(a) | 200 | 178,250 |
Huarong Finance II Co. Ltd., 5.00%, 11/19/25(a) | 200 | 194,250 |
ICBCIL Finance Co. Ltd. | ||
1.75%, 08/25/25(a) | 400 | 378,788 |
1.75%, 08/02/26(a) | 200 | 183,494 |
2.70%, 01/27/27(a) | 200 | 185,375 |
Security | Par (000 ) | Value |
China (continued) | ||
Industrial & Commercial Bank of China Ltd. | ||
3.20%, (Call 09/24/26), (5-year CMT + 2.368%)(a)(b)(d) | $1,400 | $1,322,300 |
4.50%, 01/19/26(a) | 200 | 196,748 |
4.88%, 09/21/25(a) | 400 | 394,896 |
Industrial & Commercial Bank of China Ltd./Dubai DIFC, 6.28%, 01/19/26, (1-day SOFR + 0.930%)(a)(b) | 200 | 201,422 |
Industrial & Commercial Bank of China Ltd./Hong Kong | ||
1.63%, 10/28/26(a) | 200 | 182,332 |
2.95%, 06/01/25(a) | 200 | 194,254 |
Industrial & Commercial Bank of China Ltd./New York, 3.54%, 11/08/27 | 250 | 235,632 |
Industrial & Commercial Bank of China Ltd./Singapore, 1.20%, 09/09/25(a) | 200 | 188,474 |
JD.com Inc., 3.38%, 01/14/30 (Call 10/14/29) | 200 | 178,636 |
Lenovo Group Ltd. | ||
3.42%, 11/02/30 (Call 08/02/30)(a) | 200 | 172,640 |
5.83%, 01/27/28 (Call 12/27/27)(a) | 200 | 199,750 |
6.54%, 07/27/32 (Call 04/27/32)(a) | 200 | 206,312 |
Longfor Group Holdings Ltd., 3.95%, 09/16/29(a) | 200 | 118,563 |
Meituan | ||
2.13%, 10/28/25 (Call 09/28/25)(a) | 200 | 188,915 |
3.05%, 10/28/30 (Call 07/28/30)(a) | 200 | 168,688 |
Pioneer Reward Ltd. | ||
2.00%, 04/09/26(a) | 200 | 186,687 |
5.25%, 08/09/26(a) | 200 | 198,375 |
Prosus NV | ||
3.06%, 07/13/31 (Call 04/13/31)(a) | 1,200 | 966,000 |
3.26%, 01/19/27 (Call 12/19/26)(a) | 600 | 552,375 |
3.68%, 01/21/30 (Call 10/21/29)(a) | 800 | 689,500 |
3.83%, 02/08/51 (Call 08/08/50)(a) | 1,100 | 675,125 |
4.03%, 08/03/50 (Call 02/03/50)(a) | 800 | 507,000 |
4.19%, 01/19/32 (Call 10/19/31)(a) | 800 | 681,750 |
4.85%, 07/06/27 (Call 04/06/27)(a) | 400 | 384,000 |
4.99%, 01/19/52(a) | 900 | 655,875 |
RKPF Overseas 2020 A Ltd., 5.13%, 07/26/26 (Call 07/26/24)(a) | 200 | 40,000 |
SF Holding Investment 2021 Ltd., 3.13%, 11/17/31(a) | 200 | 170,375 |
SF Holding Investment Ltd., 2.38%, 11/17/26(a) | 200 | 184,188 |
Shanghai Port Group BVI Development 2 Co. Ltd., 2.38%, 07/13/30 (Call 04/13/30)(a) | 200 | 169,688 |
Sinopec Capital 2013 Ltd., 4.25%, 04/24/43(a) | 200 | 171,313 |
Sunac China Holdings Ltd., 7.00%, 09/30/29 (Call 05/23/24), (12.00% PIK)(a)(f) | 621 | 35,708 |
Tencent Holdings Ltd. | ||
1.81%, 01/26/26 (Call 12/26/25)(a) | 200 | 187,678 |
2.39%, 06/03/30 (Call 03/03/30)(a)(e) | 400 | 336,532 |
2.88%, 04/22/31 (Call 01/22/31)(a)(e) | 400 | 340,784 |
3.24%, 06/03/50 (Call 12/03/49)(a) | 400 | 257,076 |
3.58%, 04/11/26 (Call 02/11/26)(a) | 200 | 192,687 |
3.60%, 01/19/28 (Call 10/19/27)(a)(e) | 300 | 281,325 |
3.68%, 04/22/41 (Call 10/22/40)(a) | 200 | 151,970 |
3.84%, 04/22/51 (Call 10/22/50)(a) | 400 | 286,568 |
3.93%, 01/19/38 (Call 07/19/37)(a) | 200 | 164,618 |
3.94%, 04/22/61 (Call 10/22/60)(a) | 200 | 139,125 |
3.98%, 04/11/29 (Call 01/11/29)(a) | 400 | 374,168 |
4.53%, 04/11/49 (Call 10/11/48)(a)(e) | 400 | 326,000 |
Tencent Music Entertainment Group, 2.00%, 09/03/30 (Call 06/03/30) | 200 | 160,563 |
Security | Par (000 ) | Value |
China (continued) | ||
Vanke Real Estate Hong Kong Co. Ltd., 3.98%, 11/09/27(a) | $200 | $86,750 |
Vigorous Champion International Ltd., 2.75%, 06/02/25(a) | 200 | 192,140 |
Weibo Corp., 3.38%, 07/08/30 (Call 04/08/30) | 200 | 171,386 |
West China Cement Ltd., 4.95%, 07/08/26 (Call 07/08/24)(a) | 200 | 162,500 |
Westwood Group Holdings Ltd., 2.80%, 01/20/26(a) | 200 | 185,707 |
Xiaomi Best Time International Ltd. | ||
2.88%, 07/14/31 (Call 04/14/31)(a) | 200 | 163,813 |
3.38%, 04/29/30 (Call 01/29/30)(a) | 200 | 174,063 |
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/30/24)(a) | 200 | 161,125 |
Yunda Holding Investment Ltd., 2.25%, 08/19/25(a) | 200 | 189,375 |
ZhongAn Online P&C Insurance Co. Ltd., 3.13%, 07/16/25 (Call 04/16/25)(a) | 200 | 190,844 |
38,657,310 | ||
Colombia — 4.1% | ||
ABRA Global Finance, 11.50%, 03/02/28 (Call 03/02/25), (5.50% PIK)(a)(f) | 741 | 674,863 |
AI Candelaria Spain SA, 5.75%, 06/15/33(a) | 400 | 309,500 |
Avianca Midco 2 PLC | ||
9.00%, 12/01/28 (Call 12/01/24)(c)(e) | 350 | 330,750 |
9.00%, 12/01/28 (Call 12/01/24)(a) | 950 | 897,750 |
Banco Davivienda SA, 6.65%, , (10-year CMT + 5.097%)(a)(b)(d) | 400 | 279,688 |
Banco de Bogota SA, 6.25%, 05/12/26(a) | 800 | 787,250 |
Bancolombia SA | ||
4.63%, 12/18/29 (Call 12/18/24), (5-year CMT + 2.944%)(b) | 400 | 385,750 |
6.91%, 10/18/27, (5-year CMT + 2.929%)(b)(e) | 600 | 592,410 |
Canacol Energy Ltd., 5.75%, 11/24/28 (Call 11/24/24)(a) | 400 | 189,000 |
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30(a) | 400 | 281,250 |
Ecopetrol SA | ||
4.63%, 11/02/31 (Call 08/02/31) | 1,000 | 804,870 |
5.38%, 06/26/26 (Call 03/26/26) | 1,100 | 1,074,562 |
5.88%, 05/28/45(e) | 1,500 | 1,065,000 |
5.88%, 11/02/51 (Call 05/02/51) | 650 | 440,440 |
6.88%, 04/29/30 (Call 01/29/30) | 1,400 | 1,337,420 |
7.38%, 09/18/43(e) | 800 | 703,250 |
8.38%, 01/19/36 (Call 10/19/35) | 850 | 824,993 |
8.63%, 01/19/29 (Call 12/19/28) | 858 | 892,856 |
8.88%, 01/13/33 (Call 10/13/32) | 1,790 | 1,828,530 |
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 5.38%, 12/30/30(a) | 600 | 489,188 |
Geopark Ltd., 5.50%, 01/17/27 (Call 05/10/24)(a) | 400 | 359,625 |
Gran Tierra Energy Inc., 9.50%, 10/15/29 (Call 10/15/26)(a) | 400 | 375,400 |
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a) | 800 | 664,000 |
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26(a) | 400 | 389,000 |
Promigas SA ESP/Gases del Pacifico SAC, 3.75%, 10/16/29 (Call 07/16/29)(a)(e) | 400 | 347,000 |
SierraCol Energy Andina LLC, 6.00%, 06/15/28 (Call 06/15/24)(a) | 600 | 519,937 |
Transportadora de Gas Internacional SA ESP, 5.55%, 11/01/28 (Call 08/01/28)(a) | 400 | 389,375 |
17,233,657 |
Security | Par (000 ) | Value |
Czech Republic — 0.1% | ||
Allwyn Entertainment Financing U.K. PLC, 7.88%, 04/30/29(a) | $600 | $613,125 |
Ghana — 0.4% | ||
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 05/10/24)(a) | 600 | 582,938 |
Tullow Oil PLC, 10.25%, 05/15/26 (Call 05/10/24)(a) | 1,314 | 1,267,599 |
1,850,537 | ||
Guatemala — 0.8% | ||
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, 5.25%, 04/27/29 (Call 04/27/26)(a) | 1,050 | 976,804 |
CT Trust, 5.13%, 02/03/32 (Call 02/03/27)(a) | 800 | 693,880 |
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(a) | 600 | 572,063 |
Millicom International Cellular SA | ||
4.50%, 04/27/31 (Call 04/27/26)(a) | 800 | 665,836 |
6.25%, 03/25/29 (Call 05/10/24)(a) | 720 | 677,376 |
3,585,959 | ||
Hong Kong — 4.0% | ||
AIA Group Ltd. | ||
2.70%, (Call 04/07/26), (5-year CMT + 1.758%)(a)(b)(d) | 200 | 185,214 |
3.20%, 09/16/40 (Call 03/16/40)(a)(e) | 600 | 426,540 |
3.38%, 04/07/30 (Call 01/07/30)(a) | 200 | 178,834 |
3.60%, 04/09/29 (Call 01/09/29)(a) | 200 | 184,184 |
3.90%, 04/06/28 (Call 01/06/28)(a) | 200 | 189,324 |
4.50%, 03/16/46 (Call 09/16/45)(a) | 200 | 171,688 |
4.95%, 04/04/33 (Call 01/04/33)(a) | 400 | 385,612 |
5.38%, 04/05/34 (Call 01/05/34)(c) | 200 | 191,622 |
5.63%, 10/25/27 (Call 09/25/27)(a) | 200 | 201,484 |
Bank of Communications Hong Kong Ltd. | ||
2.30%, 07/08/31 (Call 07/08/26), (5-year CMT + 1.400%)(a)(b) | 250 | 231,797 |
3.73%, (Call 03/03/25), (5-year CMT + 2.525%)(a)(b)(d) | 250 | 245,156 |
Bank of East Asia Ltd. (The) | ||
4.00%, 05/29/30 (Call 05/29/25), (5-year CMT + 3.750%)(a)(b) | 250 | 241,765 |
4.88%, 04/22/32 (Call 04/22/27), (5-year CMT + 2.300%)(a)(b) | 250 | 232,812 |
5.83%, (Call 10/21/25), (5-year CMT + 5.527%)(a)(b)(d) | 250 | 240,391 |
5.88%, (Call 09/19/24), (5-year CMT + 4.257%)(a)(b)(d) | 250 | 246,484 |
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26), (5-year CMT + 3.642%)(a)(b)(d) | 200 | 181,375 |
Castle Peak Power Finance Co. Ltd., 3.25%, 07/25/27(a) | 200 | 187,812 |
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a) | 200 | 196,312 |
China CITIC Bank International Ltd. | ||
4.80%, (Call 04/22/27), (5-year CMT + 2.104%)(a)(b)(d) | 250 | 243,321 |
6.00%, 12/05/33 (Call 12/05/28), (5-year CMT + 1.650%)(a)(b) | 250 | 253,906 |
CLP Power HK Finance Ltd., 3.55%, (Call 02/06/25), (5-year CMT + 2.041%)(a)(b)(d) | 400 | 391,400 |
FWD Group Holdings Ltd. | ||
6.38%, (Call 09/13/24), (5-year CMT + 4.876%)(a)(b)(d) | 250 | 242,875 |
Security | Par (000 ) | Value |
Hong Kong (continued) | ||
8.05%, (Call 06/15/24), (5-year CMT + 4.865%)(a)(b)(d) | $200 | $191,437 |
8.40%, 04/05/29(c) | 200 | 203,562 |
HKT Capital No. 4 Ltd., 3.00%, 07/14/26(a) | 200 | 188,625 |
HKT Capital No. 5 Ltd., 3.25%, 09/30/29(a) | 200 | 178,313 |
HKT Capital No. 6 Ltd., 3.00%, 01/18/32 (Call 10/18/31)(a) | 200 | 167,625 |
Hongkong Electric Finance Ltd. | ||
1.88%, 08/27/30 (Call 02/27/30)(a) | 200 | 162,375 |
2.88%, 05/03/26(a) | 200 | 189,687 |
Hongkong Land Finance Cayman Islands Co. Ltd. (The) | ||
2.25%, 07/15/31 (Call 04/15/31)(a) | 200 | 159,000 |
2.88%, 05/27/30 (Call 02/27/30)(a) | 200 | 170,500 |
HPHT Finance 21 II Ltd., 1.50%, 09/17/26 (Call 08/17/26)(a) | 200 | 181,063 |
HPHT Finance 21 Ltd., 2.00%, 03/19/26 (Call 02/19/26)(a) | 200 | 186,750 |
Hysan MTN Ltd., 2.82%, 09/04/29(a) | 400 | 339,500 |
IFC Development Corporate Treasury Ltd., 3.63%, 04/17/29(a) | 200 | 181,750 |
Inventive Global Investments Ltd., 1.65%, 09/03/25(a) | 200 | 188,750 |
JMH Co. Ltd., 2.50%, 04/09/31 (Call 01/09/31)(a) | 200 | 165,563 |
Joy Treasure Assets Holdings Inc., 3.50%, 09/24/29 (Call 06/24/29)(a) | 200 | 176,125 |
Li & Fung Ltd., 5.25%, (Call 11/03/24)(a)(d) | 200 | 86,313 |
Link Finance Cayman 2009 Ltd. (The) | ||
2.75%, 01/19/32(a) | 200 | 164,000 |
2.88%, 07/21/26(a) | 200 | 188,312 |
Melco Resorts Finance Ltd. | ||
4.88%, 06/06/25 (Call 05/30/24)(a) | 600 | 584,250 |
5.25%, 04/26/26 (Call 05/30/24)(a)(e) | 600 | 576,750 |
5.38%, 12/04/29 (Call 12/04/24)(a) | 1,000 | 891,590 |
5.63%, 07/17/27 (Call 05/30/24)(a)(e) | 600 | 566,250 |
5.75%, 07/21/28 (Call 05/30/24)(a) | 800 | 744,000 |
7.63%, 04/17/32 (Call 04/17/27)(c) | 400 | 392,000 |
MTR Corp. Ltd., 1.63%, 08/19/30(a) | 400 | 324,000 |
Nan Fung Treasury III Ltd., 5.00%, (Call 05/30/24)(a)(d) | 200 | 130,188 |
Nan Fung Treasury Ltd., 3.63%, 08/27/30(a) | 200 | 170,313 |
Nanyang Commercial Bank Ltd. | ||
3.80%, 11/20/29 (Call 11/20/24), (5-year CMT + 2.180%)(a)(b) | 250 | 246,484 |
6.50%, (Call 04/28/27), (5-year CMT + 3.509%)(a)(b)(d) | 250 | 250,860 |
New World China Land Ltd., 4.75%, 01/23/27(a) | 200 | 166,438 |
NWD Finance BVI Ltd. | ||
4.13%, (Call 03/10/28), (5-year CMT + 5.858%)(a)(b)(d) | 400 | 196,000 |
4.80%, (Call 05/30/24)(a)(d) | 400 | 149,875 |
5.25%, (Call 03/22/26), (5-year CMT + 7.889%)(a)(b)(d) | 200 | 129,938 |
6.25%, (Call 09/07/24)(a)(d) | 200 | 94,375 |
NWD MTN Ltd., 4.13%, 07/18/29(a) | 200 | 138,000 |
Panther Ventures Ltd., 3.50%, (Call 05/30/24)(a)(d) | 200 | 112,000 |
PCPD Capital Ltd., 5.13%, 06/18/26 (Call 06/18/24)(a) | 200 | 168,750 |
Phoenix Lead Ltd., 4.85%, (Call 08/23/24)(a)(d) | 200 | 154,000 |
Prudential Funding Asia PLC | ||
2.95%, 11/03/33 (Call 08/03/28), (5-year CMT + 1.517%)(a)(b) | 200 | 175,375 |
3.13%, 04/14/30 | 400 | 351,000 |
Security | Par (000 ) | Value |
Hong Kong (continued) | ||
4.88%, (Call 07/20/24)(a)(d) | $200 | $172,875 |
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(a) | 200 | 172,100 |
Sun Hung Kai Properties Capital Market Ltd. | ||
2.75%, 05/13/30 (Call 02/13/30)(a) | 200 | 170,625 |
2.88%, 01/21/30(a) | 200 | 173,375 |
3.75%, 02/25/29(a) | 200 | 184,375 |
Swire Pacific MTN Financing HK Ltd., 2.88%, 01/30/30 (Call 10/30/29)(a) | 200 | 173,063 |
Swire Properties MTN Financing Ltd., 3.63%, 01/13/26(a) | 200 | 193,125 |
Wharf REIC Finance BVI Ltd., 3.50%, 01/17/28(a) | 200 | 185,437 |
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a) | 200 | 187,937 |
17,044,506 | ||
Hungary — 0.3% | ||
OTP Bank Nyrt | ||
7.50%, 05/25/27 (Call 05/25/26), (1-year CMT + 3.711%)(a)(b) | 400 | 408,625 |
8.75%, 05/15/33 (Call 02/15/28), (5-year CMT + 5.060%)(a)(b) | 700 | 722,094 |
1,130,719 | ||
India — 4.3% | ||
ABJA Investment Co. Pte Ltd., 5.45%, 01/24/28(a) | 400 | 393,500 |
Adani Electricity Mumbai Ltd., 3.95%, 02/12/30(a) | 400 | 330,500 |
Adani Ports & Special Economic Zone Ltd. | ||
3.10%, 02/02/31(a) | 200 | 153,000 |
4.00%, 07/30/27 (Call 06/30/27)(a) | 200 | 179,780 |
4.20%, 08/04/27 (Call 02/04/27)(a) | 400 | 361,750 |
4.38%, 07/03/29(a) | 400 | 345,380 |
Adani Transmission Step-One Ltd., 4.00%, 08/03/26(a) | 200 | 185,500 |
Axis Bank Ltd./Gandhinagar, 4.10%, (Call 09/08/26), (5-year CMT + 3.315%)(a)(b)(d) | 200 | 185,937 |
Bharti Airtel Ltd. | ||
3.25%, 06/03/31(a) | 200 | 170,750 |
4.38%, 06/10/25(a) | 400 | 393,090 |
CA Magnum Holdings, 5.38%, 10/31/26 (Call 05/10/24)(a) | 600 | 567,600 |
Delhi International Airport Ltd. | ||
6.13%, 10/31/26(a) | 400 | 395,000 |
6.45%, 06/04/29(a) | 200 | 194,687 |
Greenko Dutch BV, 3.85%, 03/29/26 (Call 05/30/24)(a) | 364 | 339,430 |
Greenko Power II Ltd., 4.30%, 12/13/28(a) | 540 | 482,220 |
Greenko Solar Mauritius Ltd., 5.95%, 07/29/26 (Call 05/30/24)(a) | 200 | 192,625 |
HDFC Bank Ltd., 3.70%, (Call 08/25/26), (5-year CMT + 2.925%)(a)(b)(d) | 400 | 368,750 |
HDFC Bank Ltd./Gandhinagar, 5.69%, 03/02/26(a) | 400 | 398,500 |
Hindustan Petroleum Corp. Ltd., 4.00%, 07/12/27(a) | 200 | 189,000 |
ICICI Bank Ltd./Dubai | ||
3.80%, 12/14/27(a) | 200 | 187,500 |
4.00%, 03/18/26(a) | 450 | 435,516 |
Indian Railway Finance Corp. Ltd. | ||
2.80%, 02/10/31(a)(e) | 400 | 330,375 |
3.25%, 02/13/30(a) | 200 | 173,813 |
3.57%, 01/21/32(a)(e) | 400 | 343,680 |
3.84%, 12/13/27(a) | 200 | 187,062 |
JSW Hydro Energy Ltd., 4.13%, 05/18/31 (Call 05/18/26)(a) | 322 | 279,335 |
Security | Par (000 ) | Value |
India (continued) | ||
JSW Steel Ltd. | ||
3.95%, 04/05/27 (Call 10/05/26)(a) | $200 | $184,836 |
5.05%, 04/05/32 (Call 10/05/31)(a) | 400 | 343,500 |
Network i2i Ltd. | ||
3.98%, , (5-year CMT + 3.390%)(a)(d) | 400 | 379,750 |
5.65%, (Call 01/15/25), (5-year CMT + 4.274%)(a)(b)(d) | 600 | 596,526 |
NTPC Ltd., 4.25%, 02/26/26(a) | 200 | 194,687 |
Oil India International Pte Ltd., 4.00%, 04/21/27(a) | 200 | 190,516 |
Oil India Ltd., 5.13%, 02/04/29(a) | 400 | 389,500 |
ONGC Videsh Vankorneft Pte Ltd., 3.75%, 07/27/26(a) | 200 | 191,664 |
Periama Holdings LLC/DE, 5.95%, 04/19/26(a) | 400 | 393,684 |
Power Finance Corp. Ltd. | ||
3.35%, 05/16/31(a) | 200 | 168,875 |
3.95%, 04/23/30(a)(e) | 400 | 357,000 |
4.50%, 06/18/29(a) | 400 | 374,875 |
6.15%, 12/06/28(a) | 200 | 201,625 |
REC Ltd. | ||
2.25%, 09/01/26(a) | 400 | 367,250 |
5.63%, 04/11/28(a) | 400 | 396,000 |
Reliance Industries Ltd. | ||
2.88%, 01/12/32(a) | 800 | 657,250 |
3.63%, 01/12/52(a) | 900 | 610,031 |
3.67%, 11/30/27(a) | 500 | 468,125 |
3.75%, 01/12/62(a) | 400 | 264,000 |
4.88%, 02/10/45(a) | 250 | 216,094 |
6.25%, 10/19/40(a) | 250 | 255,937 |
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 05/10/24)(a) | 400 | 356,200 |
Shriram Finance Ltd., 6.63%, 04/22/27(a) | 400 | 395,500 |
State Bank of India, 4.88%, 05/05/28(a) | 400 | 389,000 |
State Bank of India/London | ||
1.80%, 07/13/26(a) | 200 | 183,813 |
5.00%, 01/17/29(a) | 400 | 390,296 |
UPL Corp. Ltd., 4.63%, 06/16/30(a) | 200 | 159,750 |
Vedanta Resources Finance II PLC | ||
9.25%, 04/23/26 (Call 05/30/24)(a) | 400 | 322,000 |
13.88%, 12/09/28 (Call 09/11/24)(a) | 504 | 457,380 |
Vedanta Resources Ltd., 13.88%, 12/09/28 (Call 05/30/24)(a) | 388 | 344,714 |
Wipro IT Services LLC, 1.50%, 06/23/26 (Call 05/23/26)(a) | 400 | 366,276 |
18,330,934 | ||
Indonesia — 2.4% | ||
Bank Negara Indonesia Persero Tbk PT | ||
3.75%, 03/30/26(a) | 400 | 378,250 |
4.30%, (Call 03/24/27), (5-year CMT + 3.466%)(a)(b)(d) | 600 | 549,750 |
Cikarang Listrindo Tbk PT, 4.95%, 09/14/26 (Call 05/30/24)(a) | 600 | 574,500 |
Freeport Indonesia PT | ||
4.76%, 04/14/27 (Call 03/14/27)(a) | 700 | 676,067 |
5.32%, 04/14/32 (Call 01/01/32)(a) | 1,600 | 1,514,000 |
6.20%, 04/14/52 (Call 10/14/51)(a) | 700 | 655,410 |
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 05/30/24)(a) | 500 | 503,125 |
Indofood CBP Sukses Makmur Tbk PT | ||
3.40%, 06/09/31 (Call 12/09/30)(a) | 1,000 | 846,250 |
3.54%, 04/27/32 (Call 10/27/31)(a) | 600 | 501,948 |
4.75%, 06/09/51 (Call 12/09/50)(a) | 600 | 463,875 |
Security | Par (000 ) | Value |
Indonesia (continued) | ||
LLPL Capital Pte Ltd., 6.88%, 02/04/39(a) | $464 | $447,971 |
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 05/30/24)(a) | 600 | 582,938 |
Medco Maple Tree Pte Ltd., 8.96%, 04/27/29 (Call 10/27/25)(a) | 400 | 410,750 |
Minejesa Capital BV | ||
4.63%, 08/10/30(a) | 930 | 865,979 |
5.63%, 08/10/37(a) | 800 | 693,548 |
Star Energy Geothermal Darajat II/Star Energy Geothermal Salak, 4.85%, 10/14/38 (Call 10/14/29)(a) | 800 | 710,000 |
10,374,361 | ||
Israel — 3.5% | ||
Bank Hapoalim BM, 3.26%, 01/21/32 (Call 10/21/26), (5-year CMT + 2.155%)(a)(b)(c) | 800 | 713,750 |
Bank Leumi Le-Israel BM | ||
3.28%, 01/29/31 (Call 01/29/26), (5-year CMT + 1.631%)(b)(c) | 400 | 369,500 |
5.13%, 07/27/27 (Call 06/27/27)(a)(c) | 400 | 383,300 |
7.13%, 07/18/33 (Call 04/18/28), (5-year CMT + 3.466%)(a)(b)(c) | 400 | 388,240 |
Energian Israel Finance Ltd. | ||
4.88%, 03/30/26 (Call 12/30/25)(a)(c) | 455 | 428,127 |
5.38%, 03/30/28 (Call 09/30/27)(a)(c) | 530 | 470,375 |
5.88%, 03/30/31 (Call 09/30/30)(a)(c) | 400 | 341,375 |
8.50%, 09/30/33 (Call 09/30/29)(a)(c) | 570 | 547,200 |
ICL Group Ltd., 6.38%, 05/31/38 (Call 11/30/37)(a)(c) | 535 | 485,406 |
Israel Discount Bank Ltd., 5.38%, 01/26/28 (Call 12/26/27)(c) | 600 | 577,500 |
Israel Electric Corp. Ltd. | ||
3.75%, 02/22/32(a)(c) | 400 | 324,250 |
4.25%, 08/14/28(a)(c) | 800 | 722,000 |
Leviathan Bond Ltd. | ||
6.13%, 06/30/25 (Call 03/30/25)(a)(c) | 520 | 507,000 |
6.50%, 06/30/27 (Call 12/30/26)(a)(c) | 400 | 375,500 |
6.75%, 06/30/30 (Call 12/30/29)(a)(c) | 425 | 378,250 |
Mizrahi Tefahot Bank Ltd., 3.08%, 04/07/31 (Call 04/07/26), (5-year CMT + 2.250%)(a)(b)(c) | 400 | 363,000 |
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36(e) | 600 | 570,937 |
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, 10/01/26 | 2,425 | 2,248,945 |
4.10%, 10/01/46 | 1,500 | 1,003,320 |
4.75%, 05/09/27 (Call 02/09/27)(e) | 800 | 765,136 |
5.13%, 05/09/29 (Call 02/09/29)(e) | 950 | 901,312 |
6.75%, 03/01/28 (Call 12/01/27)(e) | 900 | 912,375 |
7.88%, 09/15/29 (Call 06/15/29) | 400 | 421,250 |
8.13%, 09/15/31 (Call 06/15/31)(e) | 400 | 433,556 |
14,631,604 | ||
Jamaica — 0.3% | ||
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./Difl U.S., 12.00%, 05/25/27 (Call 05/22/24), (2.25% PIK)(f) | 1,150 | 1,118,375 |
Jordan — 0.1% | ||
Hikma Finance USA LLC, 3.25%, 07/09/25(a) | 400 | 383,500 |
Kazakhstan — 1.6% | ||
KazMunayGas National Co. JSC | ||
3.50%, 04/14/33 (Call 10/14/32)(a) | 800 | 639,750 |
4.75%, 04/19/27(a) | 1,000 | 958,750 |
Security | Par (000 ) | Value |
Kazakhstan (continued) | ||
5.38%, 04/24/30(a) | $1,200 | $1,144,875 |
5.75%, 04/19/47(a) | 1,200 | 994,500 |
6.38%, 10/24/48(a) | 1,300 | 1,158,218 |
Tengizchevroil Finance Co. International Ltd. | ||
2.63%, 08/15/25 (Call 05/15/25)(a) | 400 | 379,875 |
3.25%, 08/15/30 (Call 02/15/30)(a) | 800 | 638,500 |
4.00%, 08/15/26(a) | 900 | 847,969 |
6,762,437 | ||
Kuwait — 1.8% | ||
Boubyan Sukuk Ltd., 3.39%, 03/29/27(a) | 400 | 376,000 |
Burgan Bank SAK | ||
2.75%, 12/15/31 (Call 09/15/26), (5-year CMT + 2.229%)(a)(b) | 400 | 347,250 |
5.75%, (Call 07/09/24), (5-year CMT + 4.007%)(a)(b)(d) | 400 | 397,250 |
KFH Sukuk Co., 5.01%, 01/17/29(a) | 1,000 | 979,687 |
Kuwait Projects Co. SPC Ltd. | ||
4.23%, 10/29/26(a) | 600 | 536,813 |
4.50%, 02/23/27(a) | 400 | 351,250 |
MEGlobal BV | ||
2.63%, 04/28/28 (Call 01/28/28)(a) | 600 | 528,188 |
4.25%, 11/03/26(a) | 1,200 | 1,148,250 |
MEGlobal Canada ULC, 5.88%, 05/18/30(a) | 600 | 595,312 |
NBK SPC Ltd., 1.63%, 09/15/27 (Call 09/15/26), (1-day SOFR + 1.050%)(a)(b) | 1,000 | 906,125 |
NBK Tier 1 Financing 2 Ltd., 4.50%, (Call 08/27/25), (6-year CMT + 2.832%)(a)(b)(d) | 800 | 769,500 |
NBK Tier 1 Ltd., 3.63%, (Call 08/24/26), (6-year CMT + 2.875%)(a)(b)(d) | 600 | 550,488 |
7,486,113 | ||
Luxembourg — 0.4% | ||
Altice Financing SA | ||
5.00%, 01/15/28 (Call 05/30/24)(a) | 800 | 630,000 |
5.75%, 08/15/29 | 1,600 | 1,188,000 |
1,818,000 | ||
Macau — 3.3% | ||
Champion Path Holdings Ltd. | ||
4.50%, 01/27/26 (Call 05/10/24)(a) | 400 | 378,000 |
4.85%, 01/27/28 (Call 01/27/25)(a) | 500 | 448,281 |
Industrial & Commercial Bank of China Macau Ltd., 2.88%, 09/12/29 (Call 09/12/24), (5-year CMT + 1.650%)(a)(b) | 400 | 395,628 |
MGM China Holdings Ltd. | ||
4.75%, 02/01/27 (Call 05/10/24)(a) | 800 | 754,000 |
5.25%, 06/18/25 (Call 05/10/24)(a) | 400 | 393,250 |
5.88%, 05/15/26 (Call 05/10/24)(a) | 700 | 687,531 |
Sands China Ltd. | ||
2.30%, 03/08/27 (Call 02/08/27) | 600 | 538,200 |
2.85%, 03/08/29 (Call 01/08/29) | 600 | 514,688 |
3.25%, 08/08/31 (Call 05/08/31) | 500 | 406,250 |
4.05%, 01/08/26 (Call 12/08/25) | 800 | 769,952 |
4.63%, 06/18/30 (Call 03/18/30) | 600 | 540,514 |
5.13%, 08/08/25 (Call 06/08/25) | 1,400 | 1,382,500 |
5.40%, 08/08/28 (Call 05/08/28)(e) | 1,800 | 1,742,634 |
Studio City Finance Ltd. | ||
5.00%, 01/15/29 (Call 05/30/24)(a) | 900 | 771,750 |
6.50%, 01/15/28 (Call 05/30/24)(a) | 600 | 561,000 |
Wynn Macau Ltd. | ||
5.13%, 12/15/29 (Call 12/15/24)(a) | 1,000 | 885,000 |
5.50%, 01/15/26 (Call 05/30/24)(a) | 1,000 | 971,875 |
Security | Par (000 ) | Value |
Macau (continued) | ||
5.50%, 10/01/27 (Call 05/10/24)(a) | $600 | $564,750 |
5.63%, 08/26/28 (Call 05/10/24)(a) | 1,200 | 1,108,200 |
13,814,003 | ||
Malaysia — 1.5% | ||
Axiata SPV2 Bhd | ||
2.16%, 08/19/30 (Call 05/19/30)(a) | 400 | 326,750 |
4.36%, 03/24/26(a) | 400 | 389,250 |
Axiata SPV5 Labuan Ltd., 3.06%, 08/19/50 (Call 02/19/50)(a) | 1,000 | 627,812 |
CIMB Bank Bhd, 2.13%, 07/20/27(a) | 600 | 539,625 |
Genm Capital Labuan Ltd., 3.88%, 04/19/31 (Call 01/19/31)(a) | 1,000 | 849,062 |
Gohl Capital Ltd., 4.25%, 01/24/27(a) | 1,400 | 1,328,687 |
Misc Capital Two Labuan Ltd., 3.75%, 04/06/27(a) | 600 | 567,938 |
RHB Bank Bhd, 1.66%, 06/29/26(a) | 600 | 548,813 |
TNB Global Ventures Capital Bhd | ||
3.24%, 10/19/26(a) | 600 | 565,500 |
4.85%, 11/01/28(a) | 700 | 679,875 |
6,423,312 | ||
Mexico — 4.7% | ||
Alfa SAB de CV, 6.88%, 03/25/44 (Call 09/25/43)(a) | 200 | 199,562 |
Alpek SAB de CV | ||
3.25%, 02/25/31 (Call 11/25/30)(a) | 200 | 165,109 |
4.25%, 09/18/29 (Call 06/18/29)(a) | 200 | 182,400 |
Alsea SAB de CV, 7.75%, 12/14/26(a) | 200 | 202,312 |
America Movil SAB de CV | ||
2.88%, 05/07/30 (Call 02/07/30) | 400 | 345,780 |
3.63%, 04/22/29 (Call 01/22/29) | 200 | 182,962 |
4.38%, 07/16/42 | 400 | 331,500 |
4.38%, 04/22/49 (Call 10/22/48)(e) | 400 | 322,560 |
4.70%, 07/21/32 (Call 04/21/32) | 400 | 374,375 |
6.13%, 03/30/40 | 700 | 704,914 |
6.38%, 03/01/35 | 350 | 369,162 |
Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa, 4.38%, 04/11/27(a) | 300 | 286,406 |
Banco Mercantil del Norte SA/Grand Cayman | ||
5.88%, , (5-year CMT + 4.643%)(a)(b)(d) | 200 | 187,000 |
6.63%, , (10-year CMT + 5.034%)(a)(b)(d) | 200 | 176,250 |
6.75%, (Call 09/27/24), (5-year CMT + 4.967%)(a)(b)(d)(e) | 200 | 198,400 |
7.50%, (Call 06/27/29), (10-year CMT + 5.470%)(a)(b)(d) | 200 | 193,125 |
7.63%, , (10-year CMT + 5.353%)(a)(b)(d) | 200 | 194,937 |
8.38%, (Call 10/14/30), (10-year CMT + 7.760%)(a)(b)(d) | 200 | 199,740 |
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand, 7.53%, 10/01/28, (5-year CMT + 2.995%)(a)(b) | 400 | 415,000 |
BBVA Bancomer SA/Texas | ||
1.88%, 09/18/25(a) | 200 | 189,732 |
5.13%, 01/18/33, (5-year CMT + 2.650%)(a)(b) | 400 | 366,080 |
5.88%, 09/13/34 (Call 09/13/29), (5-year CMT + 4.308%)(a)(b) | 400 | 368,532 |
8.13%, 01/08/39, (5-year CMT + 4.214%)(a)(b) | 200 | 202,130 |
8.45%, 06/29/38 (Call 06/29/33), (5-year CMT + 4.661%)(a)(b) | 400 | 413,160 |
Becle SAB de CV, 2.50%, 10/14/31(a) | 200 | 154,438 |
Bimbo Bakeries USA Inc. | ||
4.00%, 05/17/51(a) | 200 | 145,250 |
5.38%, 01/09/36(a) | 200 | 189,834 |
Security | Par (000 ) | Value |
Mexico (continued) | ||
Borr IHC Ltd./Borr Finance LLC | ||
10.00%, 11/15/28 (Call 11/15/25)(a) | $400 | $414,092 |
10.38%, 11/15/30 (Call 11/15/26)(a) | 200 | 206,750 |
Braskem Idesa SAPI | ||
6.99%, 02/20/32 (Call 02/20/27)(a) | 400 | 300,000 |
7.45%, 11/15/29 (Call 11/15/24)(a)(e) | 400 | 315,880 |
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy, 7.88%, 02/15/39 (Call 11/15/38)(a) | 200 | 208,739 |
Cemex SAB de CV | ||
3.88%, 07/11/31 (Call 07/11/26)(a) | 200 | 173,450 |
5.20%, 09/17/30 (Call 09/17/25)(a) | 400 | 377,000 |
5.45%, 11/19/29 (Call 11/19/24)(a) | 400 | 386,500 |
9.13%, (Call 03/14/28), (5-year CMT + 4.907%)(a)(b)(d) | 400 | 428,282 |
Cemex SAB De CV, 5.13%, (Call 06/08/26), (5-year CMT + 4.534%)(a)(b)(d) | 200 | 191,910 |
Cibanco SA Ibm/PLA Administradora Industrial S de RL de CV, 4.96%, 07/18/29 (Call 04/18/29)(a) | 200 | 190,125 |
Coca-Cola Femsa SAB de CV | ||
1.85%, 09/01/32 (Call 06/01/32) | 450 | 339,187 |
2.75%, 01/22/30 (Call 10/22/29) | 200 | 172,934 |
Cometa Energia SA de CV, 6.38%, 04/24/35 (Call 01/24/35)(a) | 156 | 154,248 |
Fomento Economico Mexicano SAB de CV, 3.50%, 01/16/50 (Call 07/16/49) | 550 | 377,190 |
Fresnillo PLC, 4.25%, 10/02/50 (Call 04/02/50)(a) | 400 | 291,625 |
Grupo Aeromexico SAB de CV, 8.50%, 03/17/27(a) | 200 | 195,750 |
Grupo Bimbo SAB de CV | ||
4.00%, 09/06/49(a) | 200 | 145,830 |
4.70%, 11/10/47(a) | 400 | 327,750 |
4.88%, 06/27/44(a) | 200 | 171,000 |
Grupo Televisa SAB | ||
5.00%, 05/13/45 (Call 11/13/44) | 200 | 160,500 |
5.25%, 05/24/49 (Call 11/24/48)(e) | 200 | 166,438 |
6.13%, 01/31/46 (Call 07/31/45) | 200 | 186,875 |
6.63%, 01/15/40(e) | 400 | 389,500 |
Industrias Penoles SAB de CV | ||
4.15%, 09/12/29 (Call 06/12/29)(a) | 200 | 181,592 |
4.75%, 08/06/50 (Call 02/06/50)(a) | 400 | 304,000 |
Infraestructura Energetica Nova SAPI de CV, 4.75%, 01/15/51 (Call 07/15/50)(a) | 400 | 292,625 |
Kimberly-Clark de Mexico SAB de CV, 2.43%, 07/01/31 (Call 04/01/31)(a) | 200 | 167,167 |
Minera Mexico SA de CV, 4.50%, 01/26/50 (Call 07/26/49)(a) | 400 | 298,250 |
Nemak SAB de CV, 3.63%, 06/28/31(a) | 200 | 156,500 |
Orbia Advance Corp. SAB de CV | ||
1.88%, 05/11/26 (Call 04/11/26)(a) | 200 | 183,125 |
2.88%, 05/11/31 (Call 02/11/31)(a) | 200 | 161,000 |
4.00%, 10/04/27 (Call 07/04/27)(a) | 200 | 186,000 |
5.50%, 01/15/48 (Call 07/15/47)(a) | 200 | 168,563 |
5.88%, 09/17/44(a) | 200 | 178,800 |
Sigma Alimentos SA de CV, 4.13%, 05/02/26 (Call 02/02/26)(a) | 400 | 385,313 |
Sigma Finance Netherlands BV, 4.88%, 03/27/28 (Call 12/27/27)(a) | 200 | 192,937 |
Southern Copper Corp. | ||
5.25%, 11/08/42 | 476 | 433,160 |
5.88%, 04/23/45 | 570 | 551,555 |
6.75%, 04/16/40 | 400 | 430,250 |
Security | Par (000 ) | Value |
Mexico (continued) | ||
7.50%, 07/27/35 | $300 | $338,625 |
Tierra Mojada Luxembourg II Sarl, 5.75%, 12/01/40(a) | 362 | 324,304 |
Total Play Telecomunicaciones SA de CV, 6.38%, 09/20/28(a) | 400 | 211,500 |
Trust Fibra Uno | ||
4.87%, 01/15/30 (Call 10/30/29)(a) | 600 | 521,795 |
5.25%, 01/30/26 (Call 10/30/25)(a) | 400 | 387,200 |
6.39%, 01/15/50 (Call 07/15/49)(a) | 200 | 155,813 |
6.95%, 01/30/44 (Call 07/30/43)(a) | 200 | 168,375 |
7.38%, 02/13/34 (Call 11/13/33)(a) | 200 | 195,640 |
20,106,294 | ||
Moldova — 0.1% | ||
Aragvi Finance International DAC, 8.45%, 04/29/26 (Call 05/30/24)(a) | 400 | 325,500 |
Morocco — 0.5% | ||
OCP SA | ||
3.75%, 06/23/31 (Call 03/23/31)(a) | 700 | 579,847 |
4.50%, 10/22/25(a) | 400 | 391,240 |
5.13%, 06/23/51 (Call 12/23/50)(a) | 800 | 579,000 |
6.88%, 04/25/44(a) | 400 | 367,375 |
1,917,462 | ||
Nigeria — 0.8% | ||
Access Bank PLC | ||
6.13%, 09/21/26(a) | 600 | 555,187 |
9.13%, (Call 10/07/26), (5-year CMT + 8.070%)(a)(b)(d) | 400 | 371,000 |
IHS Holding Ltd. | ||
5.63%, 11/29/26 (Call 05/30/24)(a) | 600 | 552,938 |
6.25%, 11/29/28 (Call 11/29/24)(a) | 400 | 344,500 |
IHS Netherlands Holdco BV, 8.00%, 09/18/27 (Call 05/30/24)(a) | 850 | 799,000 |
SEPLAT Energy PLC, 7.75%, 04/01/26 (Call 05/30/24)(a) | 600 | 580,500 |
3,203,125 | ||
Oman — 0.4% | ||
Bank Muscat SAOG, 4.75%, 03/17/26(a) | 400 | 388,625 |
Otel Sukuk Ltd., 5.38%, 01/24/31 (Call 10/24/30)(a) | 600 | 585,938 |
Oztel Holdings SPC Ltd., 6.63%, 04/24/28(a) | 550 | 559,109 |
1,533,672 | ||
Panama — 0.7% | ||
AES Panama Generation Holdings SRL, 4.38%, 05/31/30 (Call 02/28/30)(a) | 1,179 | 988,172 |
Banco General SA, 4.13%, 08/07/27(a) | 400 | 373,000 |
C&W Senior Finance Ltd., 6.88%, 09/15/27 (Call 05/10/24)(a) | 1,250 | 1,168,750 |
Telecomunicaciones Digitales SA, 4.50%, 01/30/30 (Call 01/30/25)(a) | 600 | 528,600 |
3,058,522 | ||
Paraguay — 0.2% | ||
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(g) | 651 | 476,715 |
Telefonica Celular del Paraguay SA, 5.88%, 04/15/27(a) | 200 | 195,738 |
672,453 | ||
Peru — 1.6% | ||
Banco de Credito del Peru SA | ||
3.13%, 07/01/30 (Call 07/01/25), (5-year CMT + 3.000%)(a)(b) | 900 | 855,765 |
Security | Par (000 ) | Value |
Peru (continued) | ||
3.25%, 09/30/31 (Call 09/30/26), (5-year CMT + 2.450%)(a)(b) | $400 | $365,375 |
5.85%, 01/11/29 (Call 12/11/28)(a)(e) | 400 | 395,400 |
Cia. de Minas Buenaventura SAA, 5.50%, 07/23/26 (Call 05/30/24)(a) | 600 | 574,312 |
Consorcio Transmantaro SA | ||
4.70%, 04/16/34(a)(e) | 600 | 544,548 |
5.20%, 04/11/38 (Call 01/11/38)(a) | 400 | 359,940 |
Credicorp Ltd., 2.75%, 06/17/25 (Call 05/17/25)(a) | 400 | 385,492 |
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 8.55%, 09/18/33 (Call 06/18/33)(a) | 600 | 637,500 |
InRetail Consumer, 3.25%, 03/22/28 (Call 01/22/28)(a) | 600 | 534,750 |
Kallpa Generacion SA, 4.13%, 08/16/27 (Call 05/16/27)(a) | 600 | 564,938 |
Lima Metro Line 2 Finance Ltd., 5.88%, 07/05/34(a) | 86 | 82,829 |
Minsur SA, 4.50%, 10/28/31(a) | 400 | 346,750 |
Peru LNG Srl, 5.38%, 03/22/30(a) | 1,000 | 853,125 |
Transportadora de Gas del Peru SA, 4.25%, 04/30/28(a) | 480 | 460,824 |
6,961,548 | ||
Philippines — 1.4% | ||
BDO Unibank Inc., 2.13%, 01/13/26(a) | 600 | 564,562 |
Globe Telecom Inc., 4.20%, (Call 08/02/26), (5-year CMT + 5.527%)(a)(b)(d) | 600 | 571,312 |
JGSH Philippines Ltd., 4.13%, 07/09/30(a) | 600 | 553,313 |
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a) | 600 | 553,875 |
Metropolitan Bank & Trust Co. | ||
2.13%, 01/15/26(a) | 400 | 376,750 |
5.38%, 03/06/29(a) | 400 | 397,000 |
5.50%, 03/06/34(a) | 400 | 390,000 |
Petron Corp., 5.95%, (Call 04/19/26), (5-year CMT + 7.574%)(a)(b)(d) | 400 | 386,375 |
San Miguel Corp., 5.50%, (Call 07/29/25), (5-year CMT + 10.237%)(a)(b)(d) | 400 | 388,375 |
SMC Global Power Holdings Corp. | ||
5.45%, (Call 12/09/26), (5-year CMT + 7.155%)(a)(b)(d) | 600 | 540,000 |
5.70%, (Call 01/21/26), (5-year CMT + 6.554%)(a)(b)(d) | 600 | 561,000 |
7.00%, (Call 10/21/25), (5-year CMT + 9.199%)(a)(b)(d) | 600 | 579,000 |
5,861,562 | ||
Poland — 0.1% | ||
Canpack SA/Canpack U.S. LLC, 3.88%, 11/15/29 (Call 11/15/24)(a) | 700 | 615,125 |
Qatar — 2.8% | ||
ABQ Finance Ltd. | ||
1.88%, 09/08/25(a) | 600 | 568,032 |
2.00%, 07/06/26(a) | 400 | 368,750 |
CBQ Finance Ltd. | ||
2.00%, 09/15/25(a) | 400 | 379,875 |
2.00%, 05/12/26(a) | 600 | 556,476 |
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26), (5-year CMT + 3.874%)(a)(b)(d) | 600 | 560,063 |
Doha Finance Ltd., 2.38%, 03/31/26(a) | 500 | 466,718 |
MAR Sukuk Ltd., 2.21%, 09/02/25(a) | 600 | 572,160 |
Nakilat Inc., 6.07%, 12/31/33(a) | 583 | 598,730 |
Ooredoo International Finance Ltd. | ||
2.63%, 04/08/31(a) | 1,000 | 838,437 |
Security | Par (000 ) | Value |
Qatar (continued) | ||
3.75%, 06/22/26(a) | $400 | $385,875 |
3.88%, 01/31/28(a) | 600 | 569,625 |
4.50%, 01/31/43(a) | 400 | 356,625 |
5.00%, 10/19/25(a) | 600 | 594,030 |
QIB Sukuk Ltd., 1.95%, 10/27/25(a) | 900 | 850,014 |
QIIB Senior Oryx Ltd., 5.25%, 01/24/29(a) | 400 | 399,625 |
QNB Finance Ltd. | ||
1.38%, 01/26/26(a) | 1,050 | 974,203 |
1.63%, 09/22/25(a) | 600 | 567,188 |
2.75%, 02/12/27(a) | 900 | 834,187 |
4.88%, 01/30/29(a) | 1,000 | 972,812 |
Ras Laffan Liquefied Natural Gas Co. Ltd. III, 5.84%, 09/30/27(a)(e) | 529 | 530,448 |
11,943,873 | ||
Saudi Arabia — 4.5% | ||
Al Rajhi Sukuk Ltd., 4.75%, 04/05/28(a) | 400 | 389,875 |
Almarai Co. JSC, 5.23%, 07/25/33(a) | 400 | 398,125 |
ANB Sukuk Ltd., 3.33%, 10/28/30 (Call 10/28/25), (5-year CMT + 2.974%)(a)(b) | 400 | 381,500 |
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(a) | 400 | 374,000 |
Banque Saudi Fransi, 4.75%, 05/31/28(a) | 400 | 389,875 |
BSF Finance, 5.50%, 11/23/27(a) | 400 | 400,000 |
Dar Al-Arkan Sukuk Co. Ltd., 8.00%, 02/25/29(a) | 200 | 203,875 |
EIG Pearl Holdings Sarl | ||
3.55%, 08/31/36(a) | 600 | 498,562 |
4.39%, 11/30/46(a) | 500 | 376,406 |
Greensaif Pipelines Bidco Sarl | ||
6.13%, 02/23/38(a) | 600 | 590,250 |
6.51%, 02/23/42(a) | 800 | 802,000 |
Riyad Sukuk Ltd., 3.17%, 02/25/30 (Call 02/25/25), (5-year CMT + 1.791%)(a)(b) | 600 | 583,875 |
Riyad Tier 1 Sukuk Ltd., 4.00%, (Call 02/16/27), (5-year CMT + 2.170%)(a)(b)(d) | 400 | 370,250 |
SA Global Sukuk Ltd. | ||
1.60%, 06/17/26 (Call 05/17/26)(a) | 900 | 831,600 |
2.69%, 06/17/31 (Call 03/17/31)(a) | 1,400 | 1,175,125 |
SABIC Capital I BV | ||
2.15%, 09/14/30 (Call 06/14/30)(a) | 400 | 329,944 |
3.00%, 09/14/50 (Call 03/14/50)(a) | 200 | 135,688 |
SABIC Capital II BV, 4.50%, 10/10/28(a) | 400 | 386,125 |
Saudi Arabian Oil Co. | ||
1.63%, 11/24/25 (Call 10/24/25)(a) | 200 | 187,774 |
2.25%, 11/24/30 (Call 08/24/30)(a) | 800 | 658,500 |
3.25%, 11/24/50 (Call 05/24/50)(a) | 900 | 579,861 |
3.50%, 04/16/29(a) | 1,300 | 1,195,594 |
3.50%, 11/24/70 (Call 05/24/70)(a) | 1,000 | 616,250 |
4.25%, 04/16/39(a) | 1,200 | 1,012,875 |
4.38%, 04/16/49(a) | 1,300 | 1,025,375 |
Saudi Electricity Global Sukuk Co. 2, 5.06%, 04/08/43(a) | 400 | 371,500 |
Saudi Electricity Global Sukuk Co. 3, 5.50%, 04/08/44(a) | 400 | 380,875 |
Saudi Electricity Global Sukuk Co. 4, 4.72%, 09/27/28(a) | 600 | 585,187 |
Saudi Electricity Global Sukuk Co. 5 | ||
1.74%, 09/17/25(a) | 400 | 378,625 |
2.41%, 09/17/30(a) | 200 | 167,750 |
Saudi Electricity Sukuk Programme Co. | ||
4.63%, 04/11/33(a) | 400 | 380,875 |
5.19%, 02/13/34(a) | 600 | 588,521 |
5.68%, 04/11/53(a) | 600 | 571,380 |
Security | Par (000 ) | Value |
Saudi Arabia (continued) | ||
Saudi Telecom Co., 3.89%, 05/13/29(a) | $600 | $562,500 |
SNB Funding Ltd., 2.90%, 01/29/27(a) | 200 | 186,563 |
SNB Sukuk Ltd., 2.34%, 01/19/27(a) | 400 | 367,707 |
TMS Issuer Sarl, 5.78%, 08/23/32(a) | 600 | 603,375 |
19,038,162 | ||
Singapore — 2.9% | ||
DBS Group Holdings Ltd. | ||
1.19%, 03/15/27(a) | 600 | 535,356 |
1.82%, 03/10/31 (Call 03/10/26), (5-year CMT + 1.100%)(a)(b) | 400 | 371,250 |
3.30%, (Call 02/27/25), (5-year CMT + 1.915%)(a)(b)(d) | 800 | 779,200 |
GLP Pte Ltd. | ||
3.88%, 06/04/25(a) | 800 | 713,750 |
4.50%, (Call 05/17/26), (5-year CMT + 3.735%)(a)(b)(d) | 600 | 284,376 |
Oversea-Chinese Banking Corp. Ltd. | ||
1.83%, 09/10/30 (Call 09/10/25), (5-year CMT + 1.580%)(a)(b) | 800 | 757,004 |
4.60%, 06/15/32 (Call 06/15/27), (5-year CMT + 1.575%)(a)(b) | 600 | 581,062 |
Puma International Financing SA | ||
5.00%, 01/24/26 (Call 05/10/24)(a) | 800 | 788,000 |
7.75%, 04/25/29 (Call 04/25/26)(c) | 400 | 403,772 |
Sats Treasury Pte Ltd., 4.83%, 01/23/29(a) | 400 | 388,936 |
Singapore Airlines Ltd. | ||
3.00%, 07/20/26 (Call 06/20/26)(a) | 400 | 378,250 |
3.38%, 01/19/29 (Call 11/19/28)(a) | 400 | 365,375 |
Singapore Telecommunications Ltd., 7.38%, 12/01/31(a) | 432 | 487,080 |
SingTel Group Treasury Pte Ltd. | ||
1.88%, 06/10/30 (Call 03/10/30)(a) | 600 | 495,750 |
2.38%, 10/03/26(a) | 400 | 372,500 |
2.38%, 08/28/29 (Call 05/28/29)(a) | 600 | 522,188 |
3.25%, 06/30/25(a) | 300 | 292,125 |
3.88%, 08/28/28 (Call 05/28/28)(a) | 400 | 379,375 |
Ste Transcore Holdings Inc. | ||
3.38%, 05/05/27(a) | 600 | 567,187 |
4.13%, 05/23/26 (Call 04/23/26)(a) | 400 | 390,000 |
United Overseas Bank Ltd. | ||
1.25%, 04/14/26(a)(e) | 600 | 554,063 |
1.75%, 03/16/31 (Call 03/16/26), (5-year CMT + 1.520%)(a)(b) | 400 | 370,375 |
2.00%, 10/14/31 (Call 10/14/26), (5-year CMT + 1.230%)(a)(b)(e) | 600 | 547,482 |
3.86%, 10/07/32 (Call 10/07/27), (5-year CMT + 1.450%)(a)(b)(e) | 800 | 752,808 |
12,077,264 | ||
South Africa — 2.5% | ||
Absa Group Ltd., 6.38%, (Call 05/27/26), (5-year CMT + 5.411%)(a)(b)(d) | 400 | 386,125 |
Anglo American Capital PLC | ||
2.63%, 09/10/30 (Call 06/10/30)(a) | 800 | 670,750 |
2.88%, 03/17/31 (Call 12/17/30)(a) | 400 | 336,244 |
3.88%, 03/16/29 (Call 01/16/29)(a) | 400 | 370,205 |
3.95%, 09/10/50(a) | 400 | 289,496 |
4.75%, 04/10/27(a) | 1,600 | 1,558,296 |
4.75%, 03/16/52(a) | 600 | 493,224 |
5.50%, 05/02/33(a) | 700 | 683,522 |
5.63%, 04/01/30(a) | 600 | 598,866 |
Security | Par (000 ) | Value |
South Africa (continued) | ||
5.75%, 04/05/34 (Call 01/05/34)(c) | $600 | $593,508 |
6.00%, 04/05/54 (Call 10/05/53)(c) | 200 | 197,606 |
Bidvest Group U.K. PLC, 3.63%, 09/23/26 (Call 05/10/24)(a) | 600 | 553,875 |
Gold Fields Orogen Holdings BVI Ltd., 6.13%, 05/15/29 (Call 02/15/29)(a) | 400 | 402,250 |
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 05/30/24)(a) | 400 | 235,750 |
MTN Mauritius Investments Ltd., 6.50%, 10/13/26(a) | 400 | 397,000 |
Sasol Financing USA LLC | ||
4.38%, 09/18/26 (Call 08/18/26) | 400 | 377,000 |
5.50%, 03/18/31 (Call 03/18/30) | 700 | 582,094 |
6.50%, 09/27/28 (Call 06/27/28)(e) | 400 | 379,375 |
8.75%, 05/03/29 (Call 03/03/29)(a) | 700 | 705,906 |
Stillwater Mining Co. | ||
4.00%, 11/16/26 (Call 05/30/24)(a) | 400 | 357,625 |
4.50%, 11/16/29 (Call 11/16/25)(a) | 400 | 314,875 |
10,483,592 | ||
South Korea — 3.7% | ||
Hana Bank | ||
1.25%, 12/16/26(a) | 400 | 358,740 |
3.25%, 03/30/27(a) | 400 | 377,240 |
Hanwha Life Insurance Co. Ltd., 3.38%, 02/04/32, (5-year CMT + 1.850%)(a) | 400 | 368,500 |
Hyundai Capital Services Inc. | ||
1.25%, 02/08/26(a) | 400 | 368,500 |
5.13%, 02/05/29(a) | 200 | 193,875 |
Kookmin Bank | ||
1.38%, 05/06/26(a) | 200 | 184,144 |
2.50%, 11/04/30(a)(e) | 400 | 324,500 |
4.35%, (Call 07/02/24), (5-year CMT + 2.639%)(a)(b)(d) | 200 | 198,812 |
4.63%, 04/21/28(a) | 200 | 194,250 |
Korea Electric Power Corp., 1.13%, 06/15/25(a) | 400 | 380,125 |
Korea Gas Corp. | ||
2.88%, 07/16/29(a) | 200 | 177,375 |
3.50%, 07/21/25(a)(e) | 400 | 389,664 |
3.50%, 07/02/26(a) | 200 | 191,370 |
6.25%, 01/20/42(a) | 400 | 434,125 |
KT Corp., 4.00%, 08/08/25(a) | 200 | 195,625 |
Kyobo Life Insurance Co. Ltd., 5.90%, 06/15/52 (Call 06/15/27), (5-year CMT + 2.887%)(a)(b) | 400 | 396,000 |
LG Chem Ltd. | ||
1.38%, 07/07/26(a) | 400 | 362,824 |
2.38%, 07/07/31(a) | 200 | 161,313 |
3.63%, 04/15/29(a) | 200 | 182,250 |
LG Electronics Inc., 5.63%, 04/24/27(c) | 200 | 198,922 |
LG Energy Solution Ltd., 5.75%, 09/25/28(a) | 200 | 199,468 |
NAVER Corp., 1.50%, 03/29/26(a) | 400 | 369,125 |
NongHyup Bank | ||
1.25%, 07/20/25(a)(e) | 400 | 378,750 |
4.88%, 07/03/28(a) | 200 | 196,000 |
POSCO | ||
4.38%, 08/04/25(a) | 400 | 392,000 |
5.63%, 01/17/26(a) | 400 | 398,375 |
5.75%, 01/17/28(a) | 600 | 599,130 |
Shinhan Bank Co. Ltd. | ||
1.38%, 10/21/26(a) | 400 | 362,250 |
3.88%, 03/24/26(a) | 200 | 192,375 |
4.38%, 04/13/32(a)(e) | 200 | 179,500 |
4.50%, 04/12/28(a) | 400 | 388,066 |
Security | Par (000 ) | Value |
South Korea (continued) | ||
5.75%, 04/15/34(c) | $200 | $194,044 |
6.43%, 10/26/28, (1-day SOFR + 1.080%)(a)(b) | 200 | 203,336 |
Shinhan Financial Group Co. Ltd. | ||
1.35%, 01/10/26(a) | 400 | 371,500 |
2.88%, (Call 05/12/26), (5-year CMT + 2.064%)(a)(b)(d) | 400 | 369,000 |
3.34%, 02/05/30 (Call 02/05/25), (5-year CMT + 1.500%)(a)(b)(e) | 200 | 195,250 |
SK Battery America Inc. | ||
2.13%, 01/26/26(a) | 400 | 369,540 |
4.88%, 01/23/27(a) | 200 | 195,990 |
SK Hynix Inc. | ||
1.50%, 01/19/26(a) | 400 | 371,000 |
2.38%, 01/19/31(a) | 600 | 479,982 |
5.50%, 01/16/27(a) | 200 | 197,625 |
5.50%, 01/16/29(a) | 400 | 393,004 |
6.25%, 01/17/26(a) | 400 | 401,500 |
6.38%, 01/17/28(a) | 600 | 607,980 |
6.50%, 01/17/33(a) | 400 | 412,184 |
SK On Co. Ltd., 5.38%, 05/11/26(a) | 600 | 596,520 |
Woori Bank | ||
0.75%, 02/01/26(a) | 400 | 367,500 |
2.00%, 01/20/27(a) | 200 | 182,562 |
4.25%, (Call 10/04/24), (5-year CMT + 2.664%)(a)(b)(d) | 200 | 197,000 |
4.88%, 01/26/28(a)(e) | 400 | 393,125 |
15,791,835 | ||
Supranational — 0.7% | ||
Africa Finance Corp., 2.88%, 04/28/28(a) | 1,000 | 874,375 |
African Export-Import Bank (The), 2.63%, 05/17/26 (Call 04/17/26)(a) | 600 | 558,750 |
Eastern & Southern African Trade & Development Bank (The), 4.13%, 06/30/28(a) | 600 | 525,938 |
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 05/30/24)(a)(g) | 400 | 320 |
QIB Sukuk Ltd., 5.58%, 11/22/28(a) | 1,000 | 1,010,250 |
2,969,633 | ||
Switzerland — 0.3% | ||
Consolidated Energy Finance SA | ||
5.63%, 10/15/28 (Call 10/15/24)(a) | 450 | 379,355 |
12.00%, 02/15/31 (Call 02/15/27)(a) | 600 | 619,380 |
Oriflame Investment Holding PLC, 5.13%, 05/04/26(a) | 400 | 99,224 |
1,097,959 | ||
Taiwan — 3.2% | ||
Foxconn Far East Ltd. | ||
1.63%, 10/28/25(a) | 600 | 562,687 |
2.50%, 10/28/30(a) | 600 | 495,563 |
TSMC Arizona Corp. | ||
1.75%, 10/25/26 (Call 09/25/26) | 1,200 | 1,097,478 |
2.50%, 10/25/31 (Call 07/25/31) | 1,400 | 1,166,060 |
3.13%, 10/25/41 (Call 04/25/41) | 800 | 608,136 |
3.25%, 10/25/51 (Call 04/25/51) | 1,200 | 858,000 |
3.88%, 04/22/27 (Call 03/22/27) | 1,000 | 959,170 |
4.13%, 04/22/29 (Call 02/22/29)(e) | 600 | 573,486 |
4.25%, 04/22/32 (Call 01/22/32)(e) | 900 | 849,656 |
4.50%, 04/22/52 (Call 10/22/51)(e) | 900 | 815,344 |
TSMC Global Ltd. | ||
0.75%, 09/28/25 (Call 08/28/25)(a) | 800 | 746,750 |
1.00%, 09/28/27 (Call 07/28/27)(a) | 800 | 692,000 |
1.25%, 04/23/26 (Call 03/23/26)(a) | 1,000 | 921,250 |
Security | Par (000 ) | Value |
Taiwan (continued) | ||
1.38%, 09/28/30 (Call 06/28/30)(a) | $1,100 | $869,275 |
1.75%, 04/23/28 (Call 02/23/28)(a) | 700 | 612,719 |
2.25%, 04/23/31 (Call 01/23/31)(a) | 1,300 | 1,078,454 |
4.63%, 07/22/32 (Call 04/22/32)(a) | 600 | 580,687 |
13,486,715 | ||
Tanzania — 0.1% | ||
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 05/10/24)(a) | 600 | 599,063 |
Thailand — 2.5% | ||
Bangkok Bank PCL/Hong Kong | ||
3.47%, 09/23/36, (5-year CMT + 2.150%)(a) | 1,000 | 814,680 |
3.73%, 09/25/34 (Call 09/25/29), (5-year CMT + 1.900%)(a)(b) | 1,200 | 1,040,916 |
4.30%, 06/15/27 (Call 05/15/27)(a) | 600 | 576,720 |
4.45%, 09/19/28(a) | 600 | 573,072 |
5.00%, , (5-year CMT + 4.729%)(d) | 600 | 581,250 |
5.30%, 09/21/28 (Call 08/21/28)(a) | 400 | 394,620 |
5.50%, 09/21/33 (Call 06/21/33)(a) | 800 | 779,144 |
GC Treasury Center Co. Ltd. | ||
2.98%, 03/18/31 (Call 12/18/30)(a) | 500 | 416,940 |
4.30%, 03/18/51 (Call 09/18/50)(a)(e) | 300 | 227,531 |
Kasikornbank PCL, 5.46%, 03/07/28(a) | 600 | 596,250 |
Kasikornbank PCL/Hong Kong | ||
3.34%, 10/02/31 (Call 10/02/26), (5-year CMT + 1.700%)(a)(b) | 600 | 554,460 |
5.28%, (Call 10/14/25), (5-year CMT + 4.940%)(a)(b)(d) | 600 | 580,425 |
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26), (5-year CMT + 3.530%)(a)(b)(d) | 600 | 566,250 |
PTT Treasury Center Co. Ltd., 3.70%, 07/16/70 (Call 01/16/70)(a)(e) | 600 | 394,782 |
PTTEP Treasury Center Co. Ltd. | ||
2.59%, 06/10/27 (Call 04/10/27)(a) | 600 | 548,124 |
3.90%, 12/06/59(a) | 400 | 290,196 |
Siam Commercial Bank PCL/Cayman Islands, 4.40%, 02/11/29(a) | 400 | 379,500 |
Thaioil Treasury Center Co. Ltd. | ||
3.50%, 10/17/49(a)(e) | 600 | 397,014 |
3.75%, 06/18/50(a) | 600 | 418,688 |
5.38%, 11/20/48(a) | 600 | 538,125 |
10,668,687 | ||
Turkey — 3.4% | ||
Akbank TAS | ||
6.80%, 02/06/26(a) | 500 | 498,750 |
6.80%, 06/22/31 (Call 06/22/26), (5-year CMT + 6.015%)(a)(b) | 400 | 391,000 |
9.37%, (Call 03/14/29), (5-year CMT + 5.270%)(b)(c)(d) | 600 | 594,563 |
Anadolu Efes Biracilik Ve Malt Sanayii A/S, 3.38%, 06/29/28 (Call 03/29/28)(a) | 400 | 346,875 |
Arcelik A/S, 8.50%, 09/25/28 (Call 06/25/28)(a) | 600 | 621,375 |
Aydem Yenilenebilir Enerji A/S, 7.75%, 02/02/27 (Call 05/30/24)(a) | 600 | 579,563 |
Coca-Cola Icecek A/S, 4.50%, 01/20/29 (Call 10/20/28)(a) | 400 | 367,500 |
Ford Otomotiv Sanayi AS, 7.13%, 04/25/29 (Call 01/25/29)(c) | 400 | 400,280 |
Mersin Uluslararasi Liman Isletmeciligi AS, 8.25%, 11/15/28 (Call 11/15/25)(a) | 600 | 616,632 |
Security | Par (000 ) | Value |
Turkey (continued) | ||
Turkcell Iletisim Hizmetleri AS | ||
5.75%, 10/15/25(a) | $400 | $397,000 |
5.80%, 04/11/28 (Call 01/11/28)(a) | 565 | 540,811 |
Turkiye Garanti Bankasi AS | ||
7.18%, 05/24/27, (5-year USD ICE Swap + 4.220%)(a)(b) | 800 | 793,000 |
8.38%, 02/28/34 (Call 02/28/29), (5-year CMT + 4.090%)(b)(c) | 400 | 397,375 |
Turkiye Is Bankasi AS | ||
7.75%, 01/22/30 (Call 01/22/25), (5-year CMT + 6.119%)(a)(b) | 700 | 693,766 |
9.19%, 06/29/28, (5-year USD Swap + 5.117%)(a)(b) | 400 | 418,750 |
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a) | 600 | 604,500 |
Turkiye Vakiflar Bankasi TAO | ||
6.50%, 01/08/26(a) | 700 | 697,375 |
9.00%, 10/12/28(a) | 600 | 627,562 |
10.12%, (Call 04/24/29), (5-year CMT + 5.493%)(b)(c)(d) | 400 | 401,960 |
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a) | 600 | 598,125 |
WE Soda Investments Holding PLC | ||
9.38%, 02/14/31 (Call 02/14/27)(a) | 400 | 407,875 |
9.50%, 10/06/28 (Call 10/06/25)(a) | 1,000 | 1,032,000 |
Yapi ve Kredi Bankasi A/S | ||
7.88%, 01/22/31 (Call 01/22/26), (5-year CMT + 7.415%)(a)(b) | 600 | 599,250 |
9.25%, 10/16/28(a) | 800 | 848,000 |
9.25%, 01/17/34 (Call 01/17/29), (5-year CMT + 5.278%)(a)(b) | 600 | 614,437 |
9.74%, (Call 04/04/29), (5-year CMT + 5.499%)(b)(c)(d) | 400 | 398,500 |
14,486,824 | ||
Ukraine — 0.2% | ||
Metinvest BV, 7.75%, 10/17/29(a) | 400 | 260,099 |
MHP Lux SA, 6.95%, 04/03/26(a) | 500 | 406,875 |
666,974 | ||
United Arab Emirates — 4.9% | ||
Abu Dhabi Commercial Bank PJSC | ||
3.50%, 03/31/27(a) | 400 | 378,500 |
5.38%, 07/18/28(a) | 200 | 199,313 |
5.50%, 01/12/29(a) | 200 | 200,062 |
8.00%, (Call 11/27/28), (5-year CMT + 3.524%)(a)(b)(d) | 400 | 427,088 |
Abu Dhabi National Energy Co. PJSC | ||
2.00%, 04/29/28 (Call 01/29/28)(a) | 400 | 350,500 |
3.40%, 04/29/51 (Call 10/29/50)(a) | 400 | 276,125 |
4.00%, 10/03/49(a) | 200 | 155,438 |
4.38%, 06/22/26(a) | 400 | 390,875 |
4.38%, 01/24/29(a) | 400 | 383,125 |
4.70%, 04/24/33(a) | 400 | 379,625 |
4.88%, 04/23/30(a) | 400 | 391,625 |
6.50%, 10/27/36(a) | 300 | 329,906 |
Abu Dhabi Ports Co. PJSC, 2.50%, 05/06/31 (Call 02/06/31)(a) | 500 | 413,750 |
Adib Capital Invest 3 Ltd., 7.25%, (Call 07/18/28), (5-year CMT + 3.059%)(a)(b)(d) | 400 | 419,250 |
Adib Sukuk Co. II Ltd., 5.70%, 11/15/28(a) | 200 | 202,312 |
Aldar Investment Properties Sukuk Ltd., 4.88%, 05/24/33(a) | 200 | 189,400 |
Security | Par (000 ) | Value |
United Arab Emirates (continued) | ||
Aldar Sukuk Ltd., 4.75%, 09/29/25(a) | $200 | $196,260 |
Aldar Sukuk No. 2 Ltd., 3.88%, 10/22/29(a) | 200 | 184,063 |
Arada Sukuk Ltd., 8.13%, 06/08/27(a) | 200 | 203,500 |
BOS Funding Ltd., 7.00%, 03/14/28(a) | 200 | 206,687 |
Commercial Bank of Dubai PSC | ||
5.32%, 06/14/28(a) | 200 | 198,250 |
6.00%, (Call 04/21/26), (6-year CMT + 5.597%)(a)(b)(d) | 400 | 398,000 |
DIB Sukuk Ltd. | ||
1.96%, 06/22/26(a) | 400 | 370,750 |
2.74%, 02/16/27(a) | 400 | 372,201 |
2.95%, 01/16/26(a) | 600 | 573,750 |
4.80%, 08/16/28(a) | 200 | 196,125 |
5.49%, 11/30/27(a) | 400 | 402,375 |
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25), (6-year CMT + 3.664%)(a)(b)(d) | 400 | 397,875 |
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26), (6-year CMT + 4.077%)(a)(b)(d) | 400 | 383,000 |
EI Sukuk Co. Ltd., 1.83%, 09/23/25(a) | 400 | 379,125 |
Emaar Sukuk Ltd. | ||
3.64%, 09/15/26(a) | 200 | 190,313 |
3.70%, 07/06/31(a) | 200 | 177,500 |
3.88%, 09/17/29(a) | 400 | 368,500 |
Emirates NBD Bank PJSC | ||
1.64%, 01/13/26(a) | 400 | 373,466 |
4.25%, (Call 02/27/27), (6-year CMT + 3.155%)(a)(b)(d) | 400 | 368,625 |
5.63%, 10/21/27(a) | 200 | 201,500 |
5.88%, 10/11/28(a) | 400 | 408,250 |
6.13%, (Call 03/20/25), (6-year CMT + 3.656%)(a)(b)(d) | 400 | 397,000 |
6.13%, (Call 04/09/26), (6-year CMT + 5.702%)(a)(b)(d) | 200 | 200,000 |
Fab Sukuk Co. Ltd. | ||
1.41%, 01/14/26(a) | 200 | 186,250 |
2.59%, 03/02/27(a) | 200 | 186,040 |
4.58%, 01/17/28(a) | 200 | 195,250 |
4.78%, 01/23/29(a) | 200 | 195,813 |
First Abu Dhabi Bank PJSC | ||
4.38%, 04/24/28(a) | 400 | 385,875 |
4.50%, (Call 04/05/26), (5-year CMT + 4.138%)(a)(b)(d) | 400 | 384,625 |
4.77%, 06/06/28(a) | 200 | 196,000 |
5.00%, 02/28/29(a) | 400 | 391,625 |
5.13%, 10/13/27(a) | 400 | 395,000 |
6.32%, 04/04/34 (Call 10/04/28), (5-year CMT + 1.700%)(a)(b) | 400 | 403,500 |
6.55%, 01/29/29, (1-day SOFR + 1.200%)(a)(b) | 200 | 200,312 |
Galaxy Pipeline Assets Bidco Ltd. | ||
1.75%, 09/30/27(a) | 224 | 208,556 |
2.16%, 03/31/34(a) | 648 | 542,644 |
2.63%, 03/31/36(a) | 600 | 472,800 |
2.94%, 09/30/40(a) | 916 | 704,578 |
3.25%, 09/30/40(a) | 600 | 435,375 |
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 (Call 05/30/24)(a) | 400 | 397,625 |
MAF Global Securities Ltd., 7.88%, (Call 06/30/27), (5-year CMT + 4.893%)(a)(b)(d) | 200 | 205,312 |
MAF Sukuk Ltd. | ||
3.93%, 02/28/30(a) | 200 | 182,894 |
4.64%, 05/14/29(a) | 200 | 192,063 |
Security | Par (000 ) | Value |
United Arab Emirates (continued) | ||
5.00%, 06/01/33(a) | $200 | $191,401 |
Masdar Abu Dhabi Future Energy Co., 4.88%, 07/25/33(a) | 200 | 190,875 |
Mashreqbank PSC, 7.88%, 02/24/33 (Call 11/24/27), (5-year CMT + 3.997%)(a)(b) | 200 | 210,437 |
National Central Cooling Co. PJSC, 2.50%, 10/21/27(a) | 200 | 178,813 |
Ruwais Power Co. PJSC, 6.00%, 08/31/36(a) | 400 | 399,500 |
Shelf Drilling Holdings Ltd., 9.63%, 04/15/29 (Call 10/15/25)(a)(e) | 600 | 568,500 |
SIB Sukuk Co. III Ltd., 2.85%, 06/23/25(a) | 200 | 192,875 |
Sweihan PV Power Co. PJSC, 3.63%, 01/31/49(a) | 380 | 298,924 |
20,927,471 | ||
United Kingdom — 2.8% | ||
CK Hutchison International 16 Ltd., 2.75%, 10/03/26(a) | 200 | 187,690 |
CK Hutchison International 17 II Ltd., 3.25%, 09/29/27(a) | 200 | 185,813 |
CK Hutchison International 17 Ltd., 3.50%, 04/05/27(a) | 200 | 189,300 |
CK Hutchison International 19 II Ltd. | ||
2.75%, 09/06/29 (Call 06/06/29)(a) | 200 | 174,625 |
3.38%, 09/06/49(a) | 400 | 277,625 |
CK Hutchison International 20 Ltd. | ||
2.50%, 05/08/30 (Call 02/08/30)(a) | 200 | 169,063 |
3.38%, 05/08/50(a) | 200 | 138,404 |
CK Hutchison International 21 Ltd. | ||
1.50%, 04/15/26(a) | 200 | 185,000 |
2.50%, 04/15/31 (Call 01/15/31)(a) | 400 | 330,625 |
CK Hutchison International 23 Ltd. | ||
4.75%, 04/21/28 (Call 03/21/28)(a) | 200 | 194,687 |
4.88%, 04/21/33 (Call 01/21/33)(a) | 400 | 379,434 |
Hutchison Whampoa International Ltd., 7.45%, 11/24/33(a) | 305 | 343,983 |
Petrofac Ltd., 9.75%, 11/15/26 (Call 05/30/24)(a) | 200 | 38,000 |
Standard Chartered PLC | ||
1.82%, 11/23/25 (Call 11/23/24), (1-year CMT + 0.950%)(a)(b) | 400 | 390,016 |
2.61%, 01/12/28 (Call 01/12/27), (5-year CMT + 1.180%)(a)(b) | 200 | 183,537 |
2.68%, 06/29/32 (Call 06/29/31), (1-year CMT + 1.200%)(a)(b) | 1,000 | 806,180 |
3.27%, 02/18/36 (Call 11/18/30), (5-year CMT + 2.300%)(a)(b) | 400 | 329,400 |
3.60%, 01/12/33 (Call 01/12/32), (1-year CMT + 1.900%)(a)(b) | 200 | 165,617 |
4.05%, 04/12/26(a) | 600 | 580,368 |
4.30%, (Call 08/19/28), (5-year CMT + 3.135%)(a)(b)(d) | 600 | 483,000 |
4.31%, 05/21/30 (Call 05/21/29), (3-mo. LIBOR US + 1.910%)(a)(b) | 400 | 373,456 |
4.64%, 04/01/31 (Call 04/01/30), (1-year CMT + 3.850%)(a)(b) | 500 | 469,920 |
4.75%, (Call 01/14/31), (5-year CMT + 3.805%)(a)(b)(d) | 400 | 321,250 |
6.00%, (Call 07/26/25), (5-year CMT + 5.661%)(a)(b)(d) | 400 | 391,625 |
6.10%, 01/11/35 (Call 01/11/34), (1-year CMT + 2.100%)(a)(b) | 200 | 200,166 |
6.17%, 01/09/27 (Call 01/09/26), (1-year CMT + 2.050%)(a)(b) | 1,000 | 1,002,860 |
Security | Par (000 ) | Value |
United Kingdom (continued) | ||
6.19%, 07/06/27, (1-year CMT + 1.850%)(a)(b) | $400 | $402,156 |
6.30%, 01/09/29 (Call 01/09/28), (1-year CMT + 2.450%)(a)(b) | 800 | 810,088 |
6.30%, 07/06/34, (1-year CMT + 2.580%)(a)(b) | 400 | 408,720 |
7.02%, 02/08/30, (1-year CMT + 2.200%)(a)(b) | 200 | 208,187 |
7.75%, (Call 08/15/27), (5-year CMT + 4.976%)(a)(b)(d) | 400 | 395,000 |
7.77%, 11/16/28 (Call 11/16/27), (1-year CMT + 3.450%)(a)(b) | 800 | 845,752 |
7.88%, (Call 03/08/30), (5-year CMT + 3.574%)(b)(c)(d) | 200 | 194,812 |
11,756,359 | ||
United States — 1.6% | ||
Bimbo Bakeries USA Inc. | ||
6.05%, 01/15/29 (Call 12/15/28)(a) | 200 | 202,438 |
6.40%, 01/15/34 (Call 10/15/33)(a) | 200 | 206,748 |
Flex Ltd. | ||
3.75%, 02/01/26 (Call 01/01/26) | 550 | 529,391 |
4.75%, 06/15/25 (Call 03/15/25) | 384 | 379,430 |
4.88%, 06/15/29 (Call 03/15/29) | 599 | 573,590 |
4.88%, 05/12/30 (Call 02/12/30) | 515 | 488,127 |
GCC SAB de CV, 3.61%, 04/20/32 (Call 01/20/32)(a) | 200 | 167,878 |
JBS USA Holding Lux SARL/ JBS USA Food Co./ JBS Lux Co. SARL | ||
2.50%, 01/15/27 (Call 12/15/26) | 200 | 183,133 |
3.00%, 02/02/29 (Call 12/02/28) | 200 | 173,716 |
3.00%, 05/15/32 (Call 02/15/32) | 250 | 197,128 |
3.63%, 01/15/32 (Call 01/15/27) | 200 | 166,668 |
4.38%, 02/02/52 (Call 08/02/51) | 300 | 207,375 |
5.13%, 02/01/28 (Call 01/01/28) | 303 | 294,211 |
5.50%, 01/15/30 (Call 01/15/25) | 400 | 385,806 |
5.75%, 04/01/33 (Call 01/01/33) | 550 | 524,242 |
6.50%, 12/01/52 (Call 06/01/52) | 450 | 423,788 |
JBS USA LUX SA/JBS USA Food Co./JBS Luxembourg SARL | ||
6.75%, 03/15/34 (Call 12/15/33)(a) | 400 | 407,115 |
7.25%, 11/15/53(a) | 400 | 415,734 |
Playtika Holding Corp., 4.25%, 03/15/29 (Call 05/10/24)(a) | 390 | 333,450 |
Sagicor Financial Co. Ltd., 5.30%, 05/13/28(a) | 600 | 574,500 |
6,834,468 | ||
Vietnam — 0.1% | ||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(a) | 461 | 439,817 |
Zambia — 1.0% | ||
First Quantum Minerals Ltd. | ||
6.88%, 10/15/27 (Call 05/10/24)(a) | 1,300 | 1,248,000 |
8.63%, 06/01/31 (Call 06/01/26)(a) | 1,400 | 1,361,430 |
9.38%, 03/01/29 (Call 03/01/26)(c) | 1,450 | 1,508,464 |
4,117,894 | ||
Total Corporate Bonds & Notes — 96.5% (Cost: $435,421,328) | 409,227,666 | |
Foreign Government Obligations(h) | ||
South Korea — 0.9% | ||
Industrial Bank of Korea | ||
1.04%, 06/22/25(a) | 400 | 379,500 |
5.38%, 10/04/28(a) | 200 | 200,562 |
Security | Par (000 ) | Value |
South Korea (continued) | ||
Korea Electric Power Corp, 4.88%, 01/31/27(a) | $400 | $393,625 |
Korea Electric Power Corp. | ||
3.63%, 06/14/25(a) | 400 | 390,875 |
5.38%, 04/06/26(a) | 200 | 199,063 |
5.38%, 07/31/26(a) | 600 | 597,187 |
Korea Expressway Corp., 1.13%, 05/17/26(a) | 200 | 183,000 |
Korea Gas Corp. | ||
3.88%, 07/13/27(a) | 200 | 190,788 |
4.88%, 07/05/28(a) | 200 | 196,116 |
Korea Hydro & Nuclear Power Co. Ltd. | ||
1.25%, 04/27/26(a) | 400 | 367,250 |
4.25%, 07/27/27(a) | 600 | 577,875 |
3,675,841 | ||
Supranational — 0.6% | ||
Africa Finance Corp. | ||
3.13%, 06/16/25(a) | 200 | 192,766 |
3.75%, 10/30/29(a) | 400 | 351,500 |
4.38%, 04/17/26(a) | 800 | 771,312 |
African Export-Import Bank (The) | ||
3.80%, 05/17/31 (Call 02/17/31)(a) | 600 | 503,812 |
3.99%, 09/21/29 (Call 06/23/29)(a) | 800 | 709,750 |
2,529,140 | ||
Turkey — 0.1% | ||
Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26(a) | 600 | 579,000 |
Total Foreign Government Obligations — 1.6% (Cost: $7,035,377) | 6,783,981 | |
Total Long-Term Investments — 98.1% (Cost: $442,456,705) | 416,011,647 | |
Shares | ||
Short-Term Securities | ||
Money Market Funds — 7.4% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.49%(i)(j)(k) | 26,286,095 | 26,293,981 |
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(i)(j) | 5,030,000 | 5,030,000 |
Total Short-Term Securities — 7.4% (Cost: $31,316,342) | 31,323,981 | |
Total Investments — 105.5% (Cost: $473,773,047) | 447,335,628 | |
Liabilities in Excess of Other Assets — (5.5)% | (23,332,564 ) | |
Net Assets — 100.0% | $424,003,064 |
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | Perpetual security with no stated maturity date. |
(e) | All or a portion of this security is on loan. |
(f) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(g) | Zero-coupon bond. |
(h) | U.S. dollar denominated security issued by foreign domiciled entity. |
(i) | Affiliate of the Fund. |
(j) | Annualized 7-day yield as of period end. |
(k) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/24 | Shares Held at 04/30/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $21,316,201 | $4,981,349 (a) | $— | $1,725 | $(5,294 ) | $26,293,981 | 26,286,095 | $78,802 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 5,390,000 | — | (360,000 )(a) | — | — | 5,030,000 | 5,030,000 | 59,935 | — |
$1,725 | $(5,294 ) | $31,323,981 | $138,737 | $— |
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Corporate Bonds & Notes | $— | $409,227,666 | $— | $409,227,666 |
Foreign Government Obligations | — | 6,783,981 | — | 6,783,981 |
Short-Term Securities | ||||
Money Market Funds | 31,323,981 | — | — | 31,323,981 |
$31,323,981 | $416,011,647 | $— | $447,335,628 |
Security | Par (000 ) | Value |
Corporate Bonds & Notes | ||
Argentina — 0.7% | ||
Pampa Energia SA, 7.50%, 01/24/27 (Call 05/30/24)(a) | $400 | $382,250 |
YPF SA | ||
6.95%, 07/21/27(a) | 500 | 452,813 |
7.00%, 09/30/33(a)(b) | 350 | 303,297 |
7.00%, 12/15/47 (Call 06/15/47)(a) | 325 | 235,523 |
8.50%, 07/28/25(a) | 600 | 584,400 |
9.00%, 06/30/29(a)(b) | 375 | 370,664 |
9.50%, 01/17/31(a) | 400 | 403,210 |
2,732,157 | ||
Azerbaijan — 0.3% | ||
Southern Gas Corridor CJSC, 6.88%, 03/24/26(a) | 1,000 | 1,004,500 |
Bahrain — 0.2% | ||
AUB Sukuk Ltd., 2.62%, 09/09/26(a) | 200 | 185,442 |
Bapco Energies BSCC, 7.50%, 10/25/27(a) | 600 | 605,813 |
791,255 | ||
Brazil — 8.2% | ||
3R Lux SARL, 9.75%, 02/05/31 (Call 02/05/27)(a) | 200 | 210,500 |
Acu Petroleo Luxembourg SARL, 7.50%, 07/13/35 (Call 01/13/27)(a) | 242 | 231,895 |
Adecoagro SA, 6.00%, 09/21/27(a) | 200 | 193,125 |
Aegea Finance SARL | ||
6.75%, 05/20/29 (Call 05/20/25)(a) | 400 | 385,940 |
9.00%, 01/20/31 (Call 01/20/27)(a) | 200 | 210,060 |
Amaggi Luxembourg International SARL, 5.25%, 01/28/28(a) | 600 | 562,875 |
Ambipar Lux SARL, 9.88%, 02/06/31 (Call 02/06/27)(a) | 400 | 396,125 |
Azul Secured Finance LLP | ||
10.88%, 05/28/30 (Call 05/28/26)(a) | 375 | 305,391 |
11.93%, 08/28/28 (Call 02/28/26)(a) | 400 | 398,000 |
B3 SA - Brasil Bolsa Balcao, 4.13%, 09/20/31(a) | 400 | 342,764 |
Banco Bradesco SA/Cayman Islands, 4.38%, 03/18/27(a) | 200 | 192,500 |
Banco BTG Pactual SA/Cayman Islands, 2.75%, 01/11/26 (Call 12/11/25)(a)(c) | 200 | 188,500 |
Banco do Brasil SA/Cayman | ||
3.25%, 09/30/26(a) | 400 | 376,000 |
4.88%, 01/11/29(a) | 400 | 375,000 |
6.00%, 03/18/31(c)(d) | 400 | 387,480 |
6.25%, 04/18/30(a) | 400 | 396,500 |
8.75%, (Call 10/15/24), (10-year CMT + 4.398%)(a)(b)(e) | 1,000 | 1,008,500 |
9.00%, (Call 06/18/24), (10-year CMT + 6.362%)(a)(b)(e) | 600 | 600,000 |
Banco Votorantim SA, 4.38%, 07/29/25(a) | 200 | 194,400 |
Braskem America Finance Co., 7.13%, 07/22/41 (Call 01/22/41)(a) | 200 | 178,687 |
Braskem Netherlands Finance BV | ||
4.50%, 01/10/28 (Call 10/10/27)(a) | 800 | 713,000 |
4.50%, 01/31/30 (Call 10/31/29)(a) | 800 | 675,640 |
5.88%, 01/31/50(a) | 400 | 297,875 |
7.25%, 02/13/33 (Call 11/13/32)(a) | 600 | 568,800 |
8.50%, 01/12/31 (Call 11/12/30)(a) | 600 | 610,020 |
8.50%, 01/23/81 (Call 10/24/25), (5-year CMT + 8.220%)(a)(b) | 400 | 391,625 |
BRF SA | ||
4.88%, 01/24/30 (Call 10/24/29)(a) | 200 | 176,500 |
Security | Par (000 ) | Value |
Brazil (continued) | ||
5.75%, 09/21/50 (Call 03/21/50)(a) | $400 | $302,250 |
Centrais Eletricas Brasileiras SA, 4.63%, 02/04/30(a) | 400 | 358,680 |
Cosan Luxembourg SA | ||
5.50%, 09/20/29 (Call 09/20/24)(a) | 400 | 376,000 |
7.25%, 06/27/31(a) | 400 | 399,980 |
7.50%, 06/27/30 (Call 06/27/26)(a) | 200 | 202,050 |
Cosan Overseas Ltd., 8.25%, (Call 08/05/24)(a)(e) | 200 | 202,773 |
CSN Inova Ventures, 6.75%, 01/28/28 (Call 05/30/24)(a) | 600 | 569,437 |
CSN Resources SA | ||
4.63%, 06/10/31 (Call 06/10/26)(a) | 600 | 470,062 |
5.88%, 04/08/32(a) | 200 | 166,563 |
8.88%, 12/05/30 (Call 12/05/26)(a) | 400 | 398,466 |
Embraer Netherlands Finance BV | ||
5.40%, 02/01/27(c) | 300 | 295,406 |
7.00%, 07/28/30 (Call 04/28/30)(a) | 400 | 409,750 |
FS Luxembourg Sarl, 8.88%, 02/12/31(a) | 400 | 381,000 |
Globo Comunicacao e Participacoes SA, 4.88%, 01/22/30(a) | 200 | 174,250 |
Itau Unibanco Holding SA/Cayman Island | ||
3.88%, 04/15/31 (Call 01/15/26), (5-year CMT + 3.446%)(a)(b)(c) | 400 | 376,940 |
4.50%, 11/21/29 (Call 11/21/24), (5-year CMT + 2.822%)(a)(b)(c) | 400 | 394,250 |
4.63%, (Call 02/27/25), (5-year CMT + 3.222%)(a)(b)(e) | 200 | 187,902 |
7.72%, (Call 06/12/24), (5-year CMT + 3.981%)(a)(b)(e) | 800 | 795,500 |
7.86%, , (5-year CMT + 3.863%)(a)(b)(e) | 400 | 396,000 |
Klabin Austria GmbH | ||
3.20%, 01/12/31 (Call 10/12/30)(a) | 200 | 163,470 |
5.75%, 04/03/29 (Call 01/03/29)(a) | 600 | 586,020 |
7.00%, 04/03/49 (Call 10/03/48)(a) | 400 | 387,940 |
MARB BondCo PLC, 3.95%, 01/29/31 (Call 01/29/26)(a) | 600 | 480,750 |
MC Brazil Downstream Trading SARL, 7.25%, 06/30/31(a) | 951 | 821,212 |
MercadoLibre Inc., 3.13%, 01/14/31 (Call 10/14/30)(c) | 400 | 328,080 |
Minerva Luxembourg SA | ||
4.38%, 03/18/31(a) | 800 | 651,750 |
8.88%, 09/13/33 (Call 09/13/28)(a) | 600 | 615,480 |
NBM U.S. Holdings Inc., 7.00%, 05/14/26 (Call 05/30/24)(a) | 400 | 399,875 |
Petrobras Global Finance BV | ||
5.09%, 01/15/30 | 250 | 233,750 |
5.50%, 06/10/51 (Call 12/10/50)(c) | 450 | 345,411 |
5.60%, 01/03/31 (Call 10/03/30)(c) | 575 | 545,359 |
6.00%, 01/27/28(c) | 626 | 621,696 |
6.50%, 07/03/33 (Call 04/03/33) | 500 | 491,147 |
6.75%, 01/27/41(c) | 500 | 476,200 |
6.85%, 06/05/2115(c) | 800 | 692,220 |
6.88%, 01/20/40(c) | 350 | 336,611 |
6.90%, 03/19/49(c) | 400 | 370,750 |
7.25%, 03/17/44(c) | 416 | 407,550 |
7.38%, 01/17/27 | 400 | 411,375 |
Petrorio Luxembourg Trading Sarl, 6.13%, 06/09/26(a) | 400 | 391,880 |
Rede D'or Finance Sarl | ||
4.50%, 01/22/30 (Call 10/22/29)(a) | 300 | 263,205 |
4.95%, 01/17/28 (Call 10/17/27)(a) | 400 | 376,750 |
Security | Par (000 ) | Value |
Brazil (continued) | ||
Rumo Luxembourg Sarl | ||
4.20%, 01/18/32(a) | $200 | $164,970 |
5.25%, 01/10/28(a) | 400 | 380,000 |
Samarco Mineracao SA | ||
9.00%, 06/30/31 (Call 05/15/24), (9.00% PIK)(a)(f) | 100 | 91,200 |
9.50%, 06/30/31 (Call 05/16/24), (9.00% PIK)(c)(d)(f) | 1,957 | 1,784,633 |
Simpar Europe SA, 5.20%, 01/26/31(a) | 400 | 318,000 |
StoneCo Ltd., 3.95%, 06/16/28 (Call 05/16/28)(a) | 300 | 255,249 |
Usiminas International Sarl, 5.88%, 07/18/26 (Call 05/30/24)(a) | 400 | 391,666 |
XP Inc., 3.25%, 07/01/26(a) | 400 | 373,500 |
31,582,660 | ||
Burkina Faso — 0.0% | ||
Endeavour Mining PLC, 5.00%, 10/14/26(a) | 200 | 187,750 |
Cayman Islands — 0.2% | ||
Alinma Tier 1 Sukuk Ltd., 6.50%, (Call 03/06/29), (5-year CMT + 2.201%)(a)(b)(e) | 400 | 401,875 |
Arabian Centres Sukuk III Ltd., 9.50%, 03/06/29 (Call 03/03/26)(a) | 400 | 411,375 |
813,250 | ||
Chile — 0.4% | ||
AES Andes SA., 7.13%, 03/26/79 (Call 05/20/24), (5-year USD Swap + 4.644%)(a)(b) | 200 | 198,312 |
Agrosuper SA, 4.60%, 01/20/32 (Call 10/20/31)(a) | 200 | 167,813 |
Banco de Credito e Inversiones SA, 8.75%, (Call 02/08/29), (5-year CMT + 4.944%)(a)(b)(c)(e) | 400 | 408,848 |
Falabella SA, 3.38%, 01/15/32 (Call 10/15/31)(a) | 400 | 305,740 |
Latam Airlines Group SA, 13.38%, 10/15/29(a) | 400 | 458,250 |
1,538,963 | ||
China — 2.8% | ||
Agile Group Holdings Ltd., 7.88%, (Call 07/31/24), (5-year CMT + 11.294%)(a)(b)(e)(g)(h) | 600 | 18,611 |
Bank of Communications Co. Ltd., 3.80%, (Call 11/18/25), (5-year CMT + 3.345%)(a)(b)(e) | 1,500 | 1,451,250 |
Central Plaza Development Ltd., 5.75%, (Call 11/14/24), (5-year CMT + 8.066%)(a)(b)(e) | 400 | 384,625 |
Ease Trade Global Ltd., 4.00%, 11/10/25(a) | 200 | 186,562 |
Easy Tactic Ltd. | ||
6.50%, 07/11/27 (Call 05/30/24), (7.50% PIK)(f) | 1,307 | 39,224 |
6.50%, 07/11/28 (Call 05/30/24), (7.50% PIK)(f) | 782 | 23,452 |
ENN Clean Energy International Investment Ltd., 3.38%, 05/12/26 (Call 05/30/24)(a) | 400 | 378,250 |
Fortune Star BVI Ltd. | ||
5.00%, 05/18/26 (Call 05/30/24)(a) | 400 | 355,000 |
5.05%, 01/27/27 (Call 01/27/25)(a) | 200 | 170,563 |
5.95%, 10/19/25 (Call 05/30/24)(a) | 400 | 373,875 |
Franshion Brilliant Ltd. | ||
4.25%, 07/23/29(a) | 200 | 138,000 |
6.00%, (Call 02/08/26), (5-year CMT + 5.584%)(a)(b)(e) | 200 | 169,063 |
Fuqing Investment Management Ltd., 3.25%, 06/23/25(a) | 200 | 179,875 |
GLP China Holdings Ltd., 2.95%, 03/29/26(a) | 400 | 335,875 |
Guojing Capital BVI Ltd., 6.30%, 12/02/25(a) | 200 | 200,896 |
Huarong Finance 2017 Co. Ltd. | ||
4.25%, 11/07/27(a) | 600 | 545,062 |
4.75%, 04/27/27(a) | 600 | 563,250 |
Huarong Finance 2019 Co. Ltd., 4.50%, 05/29/29(a) | 400 | 356,500 |
Security | Par (000 ) | Value |
China (continued) | ||
Industrial & Commercial Bank of China Ltd., 3.20%, (Call 09/24/26), (5-year CMT + 2.368%)(a)(b)(e) | $3,500 | $3,305,750 |
Longfor Group Holdings Ltd., 3.95%, 09/16/29(a) | 600 | 355,687 |
RKPF Overseas 2020 A Ltd. | ||
5.13%, 07/26/26 (Call 07/26/24)(a) | 200 | 40,000 |
5.20%, 01/12/26 (Call 05/15/24)(a) | 200 | 42,000 |
Sunac China Holdings Ltd. | ||
6.25%, 09/30/27 (Call 05/24/24), (6.25% PIK)(d)(f) | 1,031 | 92,813 |
7.00%, 09/30/29 (Call 05/23/24), (12.00% PIK)(a)(f) | 1,242 | 71,415 |
Vanke Real Estate Hong Kong Co. Ltd., 3.98%, 11/09/27(a) | 600 | 260,250 |
West China Cement Ltd., 4.95%, 07/08/26 (Call 07/08/24)(a) | 400 | 325,000 |
Westwood Group Holdings Ltd., 2.80%, 01/20/26(a) | 200 | 185,707 |
Yanlord Land HK Co. Ltd., 5.13%, 05/20/26 (Call 05/30/24)(a) | 400 | 322,250 |
10,870,805 | ||
Colombia — 3.2% | ||
ABRA Global Finance, 11.50%, 03/02/28 (Call 03/02/25), (5.50% PIK)(a)(f) | 526 | 479,126 |
AI Candelaria Spain SA, 5.75%, 06/15/33(a) | 400 | 309,500 |
Avianca Midco 2 PLC, 9.00%, 12/01/28 (Call 12/01/24)(a) | 950 | 897,750 |
Banco Davivienda SA, 6.65%, , (10-year CMT + 5.097%)(a)(b)(e) | 200 | 139,844 |
Banco de Bogota SA, 6.25%, 05/12/26(a) | 600 | 590,437 |
Bancolombia SA | ||
4.63%, 12/18/29 (Call 12/18/24), (5-year CMT + 2.944%)(b) | 400 | 385,750 |
6.91%, 10/18/27, (5-year CMT + 2.929%)(b)(c) | 400 | 394,940 |
Canacol Energy Ltd., 5.75%, 11/24/28 (Call 11/24/24)(a) | 200 | 94,500 |
Colombia Telecomunicaciones SA ESP, 4.95%, 07/17/30(a) | 200 | 140,625 |
Ecopetrol SA | ||
4.63%, 11/02/31 (Call 08/02/31) | 700 | 563,409 |
5.38%, 06/26/26 (Call 03/26/26) | 850 | 830,344 |
5.88%, 05/28/45 | 1,090 | 773,900 |
5.88%, 11/02/51 (Call 05/02/51) | 450 | 304,920 |
6.88%, 04/29/30 (Call 01/29/30)(c) | 1,050 | 1,003,065 |
7.38%, 09/18/43(c) | 500 | 439,531 |
8.38%, 01/19/36 (Call 10/19/35) | 1,000 | 970,580 |
8.63%, 01/19/29 (Call 12/19/28) | 600 | 624,375 |
8.88%, 01/13/33 (Call 10/13/32) | 1,350 | 1,379,059 |
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 5.38%, 12/30/30(a) | 400 | 326,125 |
Geopark Ltd., 5.50%, 01/17/27 (Call 05/10/24)(a) | 200 | 179,812 |
Gran Tierra Energy Inc., 9.50%, 10/15/29 (Call 10/15/26)(a) | 400 | 375,400 |
Grupo Aval Ltd., 4.38%, 02/04/30 (Call 11/04/29)(a) | 600 | 498,000 |
Grupo de Inversiones Suramericana SA, 5.50%, 04/29/26(a) | 200 | 194,500 |
SierraCol Energy Andina LLC, 6.00%, 06/15/28 (Call 06/15/24)(a) | 400 | 346,625 |
12,242,117 | ||
Czech Republic — 0.1% | ||
Allwyn Entertainment Financing U.K. PLC, 7.88%, 04/30/29(a) | 400 | 408,750 |
Security | Par (000 ) | Value |
Ghana — 0.3% | ||
Kosmos Energy Ltd., 7.13%, 04/04/26 (Call 05/10/24)(a) | $400 | $388,625 |
Tullow Oil PLC, 10.25%, 05/15/26 (Call 05/10/24)(a) | 660 | 636,694 |
1,025,319 | ||
Guatemala — 0.5% | ||
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, 5.25%, 04/27/29 (Call 04/27/26)(a) | 600 | 558,174 |
CT Trust, 5.13%, 02/03/32 (Call 02/03/27)(a) | 400 | 346,940 |
Investment Energy Resources Ltd., 6.25%, 04/26/29 (Call 04/26/25)(a) | 400 | 381,375 |
Millicom International Cellular SA | ||
4.50%, 04/27/31 (Call 04/27/26)(a) | 400 | 332,918 |
6.25%, 03/25/29 (Call 05/10/24)(a) | 360 | 338,688 |
1,958,095 | ||
Hong Kong — 2.3% | ||
Bank of Communications Hong Kong Ltd., 3.73%, (Call 03/03/25), (5-year CMT + 2.525%)(a)(b)(e) | 250 | 245,156 |
Bank of East Asia Ltd. (The) | ||
5.83%, (Call 10/21/25), (5-year CMT + 5.527%)(a)(b)(e) | 500 | 480,781 |
5.88%, (Call 09/19/24), (5-year CMT + 4.257%)(a)(b)(e) | 250 | 246,484 |
CAS Capital No. 1 Ltd., 4.00%, (Call 07/12/26), (5-year CMT + 3.642%)(a)(b)(e) | 400 | 362,750 |
Cathay Pacific MTN Financing HK Ltd., 4.88%, 08/17/26(a) | 400 | 392,625 |
China CITIC Bank International Ltd. | ||
3.25%, (Call 07/29/26), (5-year CMT + 2.530%)(a)(b)(e) | 500 | 471,250 |
4.80%, (Call 04/22/27), (5-year CMT + 2.104%)(a)(b)(e) | 250 | 243,321 |
FWD Group Holdings Ltd. | ||
8.05%, (Call 06/15/24), (5-year CMT + 4.865%)(a)(b)(e) | 400 | 382,875 |
8.40%, 04/05/29(d) | 400 | 407,125 |
Lai Sun MTN Ltd., 5.00%, 07/28/26(a) | 200 | 126,063 |
Li & Fung Ltd., 5.25%, (Call 11/03/24)(a)(e) | 200 | 86,313 |
Melco Resorts Finance Ltd. | ||
4.88%, 06/06/25 (Call 05/30/24)(a) | 400 | 389,500 |
5.25%, 04/26/26 (Call 05/30/24)(a) | 300 | 288,375 |
5.38%, 12/04/29 (Call 12/04/24)(a) | 800 | 713,272 |
5.63%, 07/17/27 (Call 05/30/24)(a) | 400 | 377,500 |
5.75%, 07/21/28 (Call 05/30/24)(a) | 400 | 372,000 |
Nanyang Commercial Bank Ltd., 6.50%, (Call 04/28/27), (5-year CMT + 3.509%)(a)(b)(e) | 500 | 501,720 |
New World China Land Ltd., 4.75%, 01/23/27(a) | 400 | 332,875 |
NWD Finance BVI Ltd. | ||
4.13%, (Call 03/10/28), (5-year CMT + 5.858%)(a)(b)(e) | 600 | 294,000 |
4.80%, (Call 05/30/24)(a)(e) | 400 | 149,875 |
5.25%, (Call 03/22/26), (5-year CMT + 7.889%)(a)(b)(e) | 600 | 389,812 |
6.25%, (Call 09/07/24)(a)(e) | 600 | 283,125 |
NWD MTN Ltd., 4.13%, 07/18/29(a) | 400 | 276,000 |
PCPD Capital Ltd., 5.13%, 06/18/26 (Call 06/18/24)(a) | 400 | 337,500 |
Seaspan Corp., 5.50%, 08/01/29 (Call 08/01/24)(a) | 400 | 344,200 |
Wheelock MTN BVI Ltd., 2.38%, 01/25/26(a) | 200 | 187,938 |
8,682,435 |
Security | Par (000 ) | Value |
Hungary — 0.1% | ||
OTP Bank Nyrt, 8.75%, 05/15/33 (Call 02/15/28), (5-year CMT + 5.060%)(a)(b) | $400 | $412,625 |
India — 1.9% | ||
Axis Bank Ltd./Gandhinagar, 4.10%, (Call 09/08/26), (5-year CMT + 3.315%)(a)(b)(e) | 200 | 185,938 |
CA Magnum Holdings, 5.38%, 10/31/26 (Call 05/10/24)(a) | 600 | 567,600 |
Delhi International Airport Ltd. | ||
6.13%, 10/31/26(a) | 400 | 395,000 |
6.45%, 06/04/29(a) | 200 | 194,687 |
Greenko Dutch BV, 3.85%, 03/29/26 (Call 05/30/24)(a) | 546 | 509,145 |
Greenko Power II Ltd., 4.30%, 12/13/28(a) | 726 | 647,871 |
Greenko Solar Mauritius Ltd., 5.95%, 07/29/26 (Call 05/30/24)(a) | 200 | 192,625 |
HDFC Bank Ltd., 3.70%, (Call 08/25/26), (5-year CMT + 2.925%)(a)(b)(e) | 600 | 553,125 |
IRB Infrastructure Developers Ltd., 7.11%, 03/11/32 (Call 03/11/27)(d) | 200 | 197,250 |
JSW Hydro Energy Ltd., 4.13%, 05/18/31 (Call 05/18/26)(a) | 322 | 279,335 |
JSW Steel Ltd. | ||
3.95%, 04/05/27 (Call 10/05/26)(a) | 400 | 369,671 |
5.05%, 04/05/32 (Call 10/05/31)(a) | 200 | 171,750 |
Network i2i Ltd. | ||
3.98%, , (5-year CMT + 3.390%)(a)(e) | 200 | 189,875 |
5.65%, (Call 01/15/25), (5-year CMT + 4.274%)(a)(b)(e) | 400 | 397,684 |
Periama Holdings LLC/DE, 5.95%, 04/19/26(a) | 400 | 393,684 |
ReNew Wind Energy AP2/ReNew Power Pvt Ltd. other 9 Subsidiaries, 4.50%, 07/14/28 (Call 05/10/24)(a) | 400 | 356,200 |
Shriram Finance Ltd., 6.63%, 04/22/27(a) | 400 | 395,500 |
UPL Corp. Ltd., 4.63%, 06/16/30(a) | 200 | 159,750 |
Vedanta Resources Finance II PLC | ||
9.25%, 04/23/26 (Call 05/30/24)(a) | 400 | 322,000 |
13.88%, 12/09/28 (Call 09/11/24)(a) | 504 | 457,380 |
Vedanta Resources Ltd., 13.88%, 12/09/28 (Call 05/30/24)(a) | 564 | 501,079 |
7,437,149 | ||
Indonesia — 0.5% | ||
Bank Negara Indonesia Persero Tbk PT | ||
3.75%, 03/30/26(a) | 600 | 567,375 |
4.30%, (Call 03/24/27), (5-year CMT + 3.466%)(a)(b)(e) | 200 | 183,250 |
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25 (Call 05/30/24)(a) | 350 | 352,187 |
Medco Bell Pte Ltd., 6.38%, 01/30/27 (Call 05/30/24)(a) | 400 | 388,625 |
Medco Maple Tree Pte Ltd., 8.96%, 04/27/29 (Call 10/27/25)(a) | 250 | 256,719 |
1,748,156 | ||
Israel — 1.9% | ||
Energian Israel Finance Ltd. | ||
4.88%, 03/30/26 (Call 12/30/25)(a)(d) | 350 | 329,328 |
5.38%, 03/30/28 (Call 09/30/27)(a)(d) | 325 | 288,438 |
5.88%, 03/30/31 (Call 09/30/30)(a)(d) | 400 | 341,375 |
8.50%, 09/30/33 (Call 09/30/29)(a)(d) | 370 | 355,200 |
Leviathan Bond Ltd. | ||
6.13%, 06/30/25 (Call 03/30/25)(a)(d) | 275 | 268,125 |
6.50%, 06/30/27 (Call 12/30/26)(a)(d) | 350 | 328,562 |
Security | Par (000 ) | Value |
Israel (continued) | ||
6.75%, 06/30/30 (Call 12/30/29)(a)(d) | $275 | $244,750 |
Teva Pharmaceutical Finance Co. LLC, 6.15%, 02/01/36(c) | 500 | 475,781 |
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, 10/01/26 | 1,600 | 1,483,840 |
4.10%, 10/01/46(c) | 1,050 | 702,324 |
4.75%, 05/09/27 (Call 02/09/27)(c) | 700 | 669,494 |
5.13%, 05/09/29 (Call 02/09/29)(c) | 600 | 569,250 |
6.75%, 03/01/28 (Call 12/01/27)(c) | 600 | 608,250 |
7.88%, 09/15/29 (Call 06/15/29) | 300 | 315,938 |
8.13%, 09/15/31 (Call 06/15/31) | 300 | 325,167 |
7,305,822 | ||
Jamaica — 0.1% | ||
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./Difl U.S., 12.00%, 05/25/27 (Call 05/22/24), (2.25% PIK)(f) | 600 | 583,500 |
Kazakhstan — 0.3% | ||
Tengizchevroil Finance Co. International Ltd. | ||
2.63%, 08/15/25 (Call 05/15/25)(a) | 200 | 189,938 |
3.25%, 08/15/30 (Call 02/15/30)(a) | 400 | 319,250 |
4.00%, 08/15/26(a) | 600 | 565,312 |
1,074,500 | ||
Kuwait — 0.2% | ||
Burgan Bank SAK, 5.75%, (Call 07/09/24), (5-year CMT + 4.007%)(a)(b)(e) | 200 | 198,625 |
Kuwait Projects Co. SPC Ltd. | ||
4.23%, 10/29/26(a) | 400 | 357,875 |
4.50%, 02/23/27(a) | 200 | 175,625 |
732,125 | ||
Luxembourg — 0.3% | ||
Altice Financing SA | ||
5.00%, 01/15/28 (Call 05/30/24)(a) | 700 | 551,250 |
5.75%, 08/15/29 | 1,000 | 742,500 |
1,293,750 | ||
Macau — 1.2% | ||
Champion Path Holdings Ltd. | ||
4.50%, 01/27/26 (Call 05/10/24)(a) | 400 | 378,000 |
4.85%, 01/27/28 (Call 01/27/25)(a) | 200 | 179,312 |
MGM China Holdings Ltd. | ||
4.75%, 02/01/27 (Call 05/10/24)(a) | 400 | 377,000 |
5.25%, 06/18/25 (Call 05/10/24)(a) | 400 | 393,250 |
5.88%, 05/15/26 (Call 05/10/24)(a) | 400 | 392,875 |
Studio City Finance Ltd. | ||
5.00%, 01/15/29 (Call 05/30/24)(a) | 600 | 514,500 |
6.50%, 01/15/28 (Call 05/30/24)(a) | 200 | 187,000 |
Wynn Macau Ltd. | ||
5.13%, 12/15/29 (Call 12/15/24)(a) | 400 | 354,000 |
5.50%, 01/15/26 (Call 05/30/24)(a) | 600 | 583,125 |
5.50%, 10/01/27 (Call 05/10/24)(a) | 400 | 376,500 |
5.63%, 08/26/28 (Call 05/10/24)(a) | 800 | 738,800 |
4,474,362 | ||
Mexico — 8.3% | ||
Alsea SAB de CV, 7.75%, 12/14/26(a) | 200 | 202,313 |
Banco Mercantil del Norte SA/Grand Cayman | ||
5.88%, , (5-year CMT + 4.643%)(a)(b)(e) | 200 | 187,000 |
6.63%, , (10-year CMT + 5.034%)(a)(b)(e) | 200 | 176,250 |
6.75%, (Call 09/27/24), (5-year CMT + 4.967%)(a)(b)(c)(e) | 300 | 297,600 |
Security | Par (000 ) | Value |
Mexico (continued) | ||
7.50%, (Call 06/27/29), (10-year CMT + 5.470%)(a)(b)(e) | $400 | $386,250 |
7.63%, , (10-year CMT + 5.353%)(a)(b) | 400 | 389,875 |
8.38%, (Call 10/14/30), (10-year CMT + 7.760%)(a)(b)(e) | 200 | 199,740 |
BBVA Bancomer SA/Texas | ||
5.13%, 01/18/33, (5-year CMT + 2.650%)(a)(b) | 600 | 549,120 |
5.88%, 09/13/34 (Call 09/13/29), (5-year CMT + 4.308%)(a)(b) | 350 | 322,466 |
8.13%, 01/08/39, (5-year CMT + 4.214%)(a)(b) | 600 | 606,390 |
8.45%, 06/29/38 (Call 06/29/33), (5-year CMT + 4.661%)(a)(b) | 600 | 619,740 |
Borr IHC Ltd./Borr Finance LLC | ||
10.00%, 11/15/28 (Call 11/15/25)(a) | 600 | 621,138 |
10.38%, 11/15/30 (Call 11/15/26)(a) | 400 | 413,500 |
Braskem Idesa SAPI | ||
6.99%, 02/20/32 (Call 02/20/27)(a) | 700 | 525,000 |
7.45%, 11/15/29 (Call 11/15/24)(a) | 400 | 315,880 |
Cemex SAB de CV | ||
3.88%, 07/11/31 (Call 07/11/26)(a) | 700 | 607,075 |
5.20%, 09/17/30 (Call 09/17/25)(a) | 400 | 377,000 |
5.45%, 11/19/29 (Call 11/19/24)(a) | 400 | 386,500 |
9.13%, (Call 03/14/28), (5-year CMT + 4.907%)(a)(b)(e) | 500 | 535,353 |
Cemex SAB De CV, 5.13%, (Call 06/08/26), (5-year CMT + 4.534%)(a)(b)(e) | 500 | 479,775 |
Grupo Aeromexico SAB de CV, 8.50%, 03/17/27(a) | 300 | 293,625 |
Nemak SAB de CV, 3.63%, 06/28/31(a) | 400 | 313,000 |
Petroleos Mexicanos | ||
4.50%, 01/23/26(c) | 700 | 658,693 |
5.35%, 02/12/28 | 953 | 833,780 |
5.95%, 01/28/31 (Call 10/28/30) | 2,100 | 1,659,525 |
6.35%, 02/12/48(c) | 950 | 583,656 |
6.38%, 01/23/45(c) | 775 | 481,322 |
6.49%, 01/23/27 (Call 11/23/26) | 748 | 702,282 |
6.50%, 03/13/27 | 2,260 | 2,119,993 |
6.50%, 01/23/29(c) | 625 | 552,812 |
6.50%, 06/02/41(c) | 800 | 529,800 |
6.63%, 06/15/35(c) | 1,400 | 1,034,054 |
6.70%, 02/16/32 (Call 11/16/31)(c) | 3,650 | 2,989,715 |
6.75%, 09/21/47 | 2,950 | 1,880,772 |
6.84%, 01/23/30 (Call 10/23/29) | 1,300 | 1,124,370 |
6.88%, 08/04/26 | 1,400 | 1,359,400 |
6.95%, 01/28/60 (Call 07/28/59)(c) | 2,000 | 1,272,800 |
7.69%, 01/23/50 (Call 07/23/49) | 4,475 | 3,123,102 |
8.75%, 06/02/29 (Call 04/02/29)(c) | 1,200 | 1,159,800 |
10.00%, 02/07/33 (Call 11/07/32)(c) | 1,150 | 1,127,000 |
Total Play Telecomunicaciones SA de CV, 6.38%, 09/20/28(a) | 200 | 105,750 |
32,103,216 | ||
Moldova — 0.0% | ||
Aragvi Finance International DAC, 8.45%, 04/29/26 (Call 05/30/24)(a) | 200 | 162,750 |
Morocco — 0.3% | ||
OCP SA | ||
3.75%, 06/23/31 (Call 03/23/31)(a) | 200 | 165,670 |
4.50%, 10/22/25(a) | 400 | 391,240 |
5.13%, 06/23/51 (Call 12/23/50)(a) | 400 | 289,500 |
6.88%, 04/25/44(a) | 400 | 367,375 |
1,213,785 |
Security | Par (000 ) | Value |
Nigeria — 0.5% | ||
Access Bank PLC | ||
6.13%, 09/21/26(a) | $200 | $185,062 |
9.13%, (Call 10/07/26), (5-year CMT + 8.070%)(a)(b)(e) | 400 | 371,000 |
IHS Holding Ltd. | ||
5.63%, 11/29/26 (Call 05/30/24)(a) | 200 | 184,313 |
6.25%, 11/29/28 (Call 11/29/24)(a) | 200 | 172,250 |
IHS Netherlands Holdco BV, 8.00%, 09/18/27 (Call 05/30/24)(a) | 600 | 564,000 |
SEPLAT Energy PLC, 7.75%, 04/01/26 (Call 05/30/24)(a) | 400 | 387,000 |
1,863,625 | ||
Oman — 0.4% | ||
Bank Muscat SAOG, 4.75%, 03/17/26(a) | 400 | 388,625 |
EDO Sukuk Ltd., 5.88%, 09/21/33(a) | 400 | 403,250 |
Otel Sukuk Ltd., 5.38%, 01/24/31 (Call 10/24/30)(a) | 400 | 390,625 |
Oztel Holdings SPC Ltd., 6.63%, 04/24/28(a) | 450 | 457,453 |
1,639,953 | ||
Panama — 0.4% | ||
AES Panama Generation Holdings SRL, 4.38%, 05/31/30 (Call 02/28/30)(a) | 589 | 494,086 |
C&W Senior Finance Ltd., 6.88%, 09/15/27 (Call 05/10/24)(a) | 600 | 561,000 |
Telecomunicaciones Digitales SA, 4.50%, 01/30/30 (Call 01/30/25)(a) | 400 | 352,400 |
1,407,486 | ||
Paraguay — 0.1% | ||
Bioceanico Sovereign Certificate Ltd., 0.00%, 06/05/34(a)(i) | 434 | 317,810 |
Peru — 0.6% | ||
Cia. de Minas Buenaventura SAA, 5.50%, 07/23/26 (Call 05/30/24)(a) | 400 | 382,875 |
Hunt Oil Co. of Peru LLC Sucursal Del Peru, 8.55%, 09/18/33 (Call 06/18/33)(a) | 200 | 212,500 |
Minsur SA, 4.50%, 10/28/31(a) | 200 | 173,375 |
Peru LNG Srl, 5.38%, 03/22/30(a) | 600 | 511,875 |
Petroleos del Peru SA | ||
4.75%, 06/19/32(a) | 600 | 445,875 |
5.63%, 06/19/47(a) | 1,100 | 665,500 |
2,392,000 | ||
Philippines — 0.6% | ||
Globe Telecom Inc., 4.20%, (Call 08/02/26), (5-year CMT + 5.527%)(a)(b)(e) | 400 | 380,875 |
JGSH Philippines Ltd., 4.13%, 07/09/30(a) | 400 | 368,875 |
Manila Water Co. Inc., 4.38%, 07/30/30 (Call 07/30/25)(a) | 400 | 369,250 |
Petron Corp., 5.95%, (Call 04/19/26), (5-year CMT + 7.574%)(a)(b)(e) | 200 | 193,188 |
San Miguel Corp., 5.50%, (Call 07/29/25), (5-year CMT + 10.237%)(a)(b)(e) | 200 | 194,187 |
SMC Global Power Holdings Corp. | ||
5.45%, (Call 12/09/26), (5-year CMT + 7.155%)(a)(b)(e) | 400 | 360,000 |
5.70%, (Call 01/21/26), (5-year CMT + 6.554%)(a)(b)(e) | 200 | 187,000 |
7.00%, (Call 10/21/25), (5-year CMT + 9.199%)(a)(b)(e) | 400 | 386,000 |
2,439,375 |
Security | Par (000 ) | Value |
Poland — 0.1% | ||
Canpack SA/Canpack U.S. LLC, 3.88%, 11/15/29 (Call 11/15/24)(a) | $400 | $351,500 |
Qatar — 0.0% | ||
Commercial Bank PSQC (The), 4.50%, (Call 03/03/26), (5-year CMT + 3.874%)(a)(b)(e) | 200 | 186,688 |
Saudi Arabia — 0.3% | ||
Arabian Centres Sukuk II Ltd., 5.63%, 10/07/26(a) | 400 | 374,000 |
Dar Al-Arkan Sukuk Co. Ltd., 8.00%, 02/25/29(a) | 400 | 407,750 |
Riyad Tier 1 Sukuk Ltd., 4.00%, (Call 02/16/27), (5-year CMT + 2.170%)(a)(b)(e) | 400 | 370,250 |
1,152,000 | ||
Singapore — 0.4% | ||
GLP Pte Ltd. | ||
3.88%, 06/04/25(a) | 200 | 178,438 |
4.50%, (Call 05/17/26), (5-year CMT + 3.735%)(a)(b)(e) | 400 | 189,584 |
Puma International Financing SA, 7.75%, 04/25/29 (Call 04/25/26)(d) | 400 | 403,772 |
Singapore Airlines Ltd. | ||
3.00%, 07/20/26 (Call 06/20/26)(a) | 200 | 189,125 |
3.38%, 01/19/29 (Call 11/19/28)(a) | 400 | 365,375 |
5.25%, 03/21/34 (Call 01/21/34)(a) | 200 | 197,062 |
1,523,356 | ||
South Africa — 1.2% | ||
Absa Group Ltd., 6.38%, (Call 05/27/26), (5-year CMT + 5.411%)(a)(b)(e) | 400 | 386,125 |
Bidvest Group U.K. PLC, 3.63%, 09/23/26 (Call 05/10/24)(a) | 400 | 369,250 |
Eskom Holdings SOC Ltd., 6.35%, 08/10/28(a) | 600 | 567,000 |
Liquid Telecommunications Financing PLC, 5.50%, 09/04/26 (Call 05/30/24)(a) | 200 | 117,875 |
MTN Mauritius Investments Ltd., 6.50%, 10/13/26(a) | 200 | 198,500 |
Sasol Financing USA LLC | ||
4.38%, 09/18/26 (Call 08/18/26)(c) | 400 | 377,000 |
5.50%, 03/18/31 (Call 03/18/30) | 600 | 498,937 |
6.50%, 09/27/28 (Call 06/27/28)(c) | 400 | 379,375 |
8.75%, 05/03/29 (Call 03/03/29)(a) | 500 | 504,219 |
Stillwater Mining Co. | ||
4.00%, 11/16/26 (Call 05/30/24)(a) | 200 | 178,813 |
4.50%, 11/16/29 (Call 11/16/25)(a) | 400 | 314,875 |
Transnet SOC Ltd., 8.25%, 02/06/28(a) | 600 | 590,250 |
4,482,219 | ||
South Korea — 0.0% | ||
Woori Bank, 4.25%, (Call 10/04/24), (5-year CMT + 2.664%)(a)(b)(e) | 200 | 197,000 |
Supranational — 0.1% | ||
Eastern & Southern African Trade & Development Bank (The), 4.13%, 06/30/28(a) | 400 | 350,625 |
Odebrecht Holdco Finance Ltd., 0.00%, 09/10/58 (Call 05/30/24)(a)(i) | 900 | 720 |
351,345 | ||
Switzerland — 0.2% | ||
Consolidated Energy Finance SA | ||
5.63%, 10/15/28 (Call 10/15/24)(a) | 300 | 252,903 |
12.00%, 02/15/31 (Call 02/15/27)(a) | 450 | 464,535 |
Oriflame Investment Holding PLC, 5.13%, 05/04/26(a) | 200 | 49,612 |
767,050 |
Security | Par (000 ) | Value |
Tanzania — 0.1% | ||
HTA Group Ltd./Mauritius, 7.00%, 12/18/25 (Call 05/10/24)(a) | $200 | $199,688 |
Thailand — 0.5% | ||
Bangkok Bank PCL/Hong Kong | ||
3.73%, 09/25/34 (Call 09/25/29), (5-year CMT + 1.900%)(a)(b) | 600 | 520,458 |
5.00%, , (5-year CMT + 4.729%) | 400 | 387,500 |
Kasikornbank PCL/Hong Kong, 3.34%, 10/02/31 (Call 10/02/26), (5-year CMT + 1.700%)(a)(b) | 600 | 554,460 |
Krung Thai Bank PCL/Cayman Islands, 4.40%, (Call 03/25/26), (5-year CMT + 3.530%)(a)(b)(e) | 400 | 377,500 |
1,839,918 | ||
Turkey — 2.3% | ||
Akbank TAS | ||
6.80%, 02/06/26(a) | 400 | 399,000 |
6.80%, 06/22/31 (Call 06/22/26), (5-year CMT + 6.015%)(a)(b) | 400 | 391,000 |
9.37%, (Call 03/14/29), (5-year CMT + 5.270%)(b)(d)(e) | 200 | 198,187 |
Anadolu Efes Biracilik Ve Malt Sanayii A/S, 3.38%, 06/29/28 (Call 03/29/28)(a) | 200 | 173,438 |
Arcelik A/S, 8.50%, 09/25/28 (Call 06/25/28)(a) | 400 | 414,250 |
Aydem Yenilenebilir Enerji A/S, 7.75%, 02/02/27 (Call 05/30/24)(a) | 400 | 386,375 |
Coca-Cola Icecek A/S, 4.50%, 01/20/29 (Call 10/20/28)(a) | 400 | 367,500 |
Ford Otomotiv Sanayi AS, 7.13%, 04/25/29 (Call 01/25/29)(d) | 200 | 200,140 |
Mersin Uluslararasi Liman Isletmeciligi AS, 8.25%, 11/15/28 (Call 11/15/25)(a) | 400 | 411,088 |
Turkcell Iletisim Hizmetleri AS | ||
5.75%, 10/15/25(a) | 400 | 397,000 |
5.80%, 04/11/28 (Call 01/11/28)(a) | 200 | 191,438 |
Turkiye Garanti Bankasi AS | ||
7.18%, 05/24/27, (5-year USD ICE Swap + 4.220%)(a)(b) | 400 | 396,500 |
8.38%, 02/28/34 (Call 02/28/29), (5-year CMT + 4.090%)(b)(d) | 200 | 198,687 |
Turkiye Is Bankasi AS | ||
7.75%, 01/22/30 (Call 01/22/25), (5-year CMT + 6.119%)(a)(b) | 400 | 396,438 |
9.19%, 06/29/28, (5-year USD Swap + 5.117%)(a)(b) | 400 | 418,750 |
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 03/14/26 (Call 12/14/25)(a) | 300 | 302,250 |
Turkiye Vakiflar Bankasi TAO | ||
6.50%, 01/08/26(a) | 400 | 398,500 |
9.00%, 10/12/28(a) | 400 | 418,375 |
10.12%, (Call 04/24/29), (5-year CMT + 5.493%)(b)(d)(e) | 200 | 200,980 |
Ulker Biskuvi Sanayi AS, 6.95%, 10/30/25(a) | 400 | 398,750 |
WE Soda Investments Holding PLC | ||
9.38%, 02/14/31 (Call 02/14/27)(a) | 200 | 203,937 |
9.50%, 10/06/28 (Call 10/06/25)(a) | 600 | 619,200 |
Yapi ve Kredi Bankasi A/S | ||
7.88%, 01/22/31 (Call 01/22/26), (5-year CMT + 7.415%)(a)(b) | 200 | 199,750 |
9.25%, 10/16/28(a) | 400 | 424,000 |
9.25%, 01/17/34 (Call 01/17/29), (5-year CMT + 5.278%)(a)(b) | 400 | 409,625 |
Security | Par (000 ) | Value |
Turkey (continued) | ||
9.74%, (Call 04/04/29), (5-year CMT + 5.499%)(b)(d)(e) | $200 | $199,250 |
8,714,408 | ||
Ukraine — 0.1% | ||
Metinvest BV, 7.75%, 10/17/29(a) | 200 | 130,049 |
MHP Lux SA, 6.95%, 04/03/26(a) | 400 | 325,500 |
455,549 | ||
United Arab Emirates — 1.6% | ||
Abu Dhabi Commercial Bank PJSC, 8.00%, (Call 11/27/28), (5-year CMT + 3.524%)(a)(b)(e) | 400 | 427,088 |
Adib Capital Invest 3 Ltd., 7.25%, (Call 07/18/28), (5-year CMT + 3.059%)(a)(b)(e) | 600 | 628,875 |
Arada Sukuk Ltd., 8.13%, 06/08/27(a) | 400 | 407,000 |
Commercial Bank of Dubai PSC, 6.00%, (Call 04/21/26), (6-year CMT + 5.597%)(a)(b)(e) | 400 | 398,000 |
DIB Tier 1 Sukuk 3 Ltd., 6.25%, (Call 01/22/25), (6-year CMT + 3.664%)(a)(b)(e) | 400 | 397,875 |
DIB Tier 1 Sukuk 4 Ltd., 4.63%, (Call 05/19/26), (6-year CMT + 4.077%)(a)(b)(e) | 600 | 574,500 |
DP World Salaam, 6.00%, (Call 10/01/25), (5-year CMT + 5.750%)(a)(b)(e) | 800 | 792,800 |
Emirates NBD Bank PJSC | ||
4.25%, (Call 02/27/27), (6-year CMT + 3.155%)(a)(b)(e) | 400 | 368,625 |
6.13%, (Call 03/20/25), (6-year CMT + 3.656%)(a)(b)(e) | 600 | 595,500 |
6.13%, (Call 04/09/26), (6-year CMT + 5.702%)(a)(b)(e) | 400 | 400,000 |
GEMS MENASA Cayman Ltd./GEMS Education Delaware LLC, 7.13%, 07/31/26 (Call 05/30/24)(a) | 400 | 397,625 |
MAF Global Securities Ltd., 7.88%, (Call 06/30/27), (5-year CMT + 4.893%)(a)(b)(e) | 200 | 205,312 |
Shelf Drilling Holdings Ltd., 9.63%, 04/15/29 (Call 10/15/25)(a)(c) | 600 | 568,500 |
6,161,700 | ||
United Kingdom — 0.8% | ||
Petrofac Ltd., 9.75%, 11/15/26 (Call 05/30/24)(a)(c) | 400 | 76,000 |
Standard Chartered PLC | ||
4.30%, (Call 08/19/28), (5-year CMT + 3.135%)(a)(b)(e) | 800 | 644,000 |
4.75%, (Call 01/14/31), (5-year CMT + 3.805%)(a)(b)(e) | 800 | 642,500 |
6.00%, (Call 07/26/25), (5-year CMT + 5.661%)(a)(b)(e) | 400 | 391,625 |
7.75%, (Call 08/15/27), (5-year CMT + 4.976%)(a)(b)(e) | 800 | 790,000 |
7.88%, (Call 03/08/30), (5-year CMT + 3.574%)(b)(d)(e) | 600 | 584,437 |
3,128,562 | ||
United States — 0.2% | ||
Playtika Holding Corp., 4.25%, 03/15/29 (Call 05/10/24)(a) | 500 | 427,500 |
Sagicor Financial Co. Ltd., 5.30%, 05/13/28(a) | 200 | 191,500 |
619,000 | ||
Vietnam — 0.1% | ||
Mong Duong Finance Holdings BV, 5.13%, 05/07/29(a) | 231 | 219,909 |
Security | Par (000 ) | Value |
Zambia — 0.7% | ||
First Quantum Minerals Ltd. | ||
6.88%, 10/15/27 (Call 05/10/24)(a) | $800 | $768,000 |
8.63%, 06/01/31 (Call 06/01/26)(a) | 800 | 777,960 |
9.38%, 03/01/29 (Call 03/01/26)(c)(d) | 1,000 | 1,040,320 |
2,586,280 | ||
Total Corporate Bonds & Notes — 45.6% (Cost: $189,535,015) | 175,376,217 | |
Foreign Government Obligations(j) | ||
Angola — 1.0% | ||
Angolan Government International Bond | ||
8.00%, 11/26/29(a) | 1,000 | 912,500 |
8.25%, 05/09/28(a) | 800 | 754,250 |
8.75%, 04/14/32(a) | 1,100 | 995,156 |
9.13%, 11/26/49(a) | 600 | 501,375 |
9.38%, 05/08/48(a) | 1,000 | 850,000 |
4,013,281 | ||
Argentina — 4.5% | ||
Argentine Republic Government International Bond | ||
0.75%, 07/09/30 (Call 05/31/24)(k) | 8,698 | 5,019,024 |
1.00%, 07/09/29 (Call 05/31/24)(c) | 1,518 | 895,065 |
3.50%, 07/09/41 (Call 05/31/24)(c)(k) | 5,694 | 2,488,107 |
3.63%, 07/09/35 (Call 05/31/24)(k) | 11,004 | 5,028,935 |
3.63%, 07/09/46 (Call 05/31/24)(c)(k) | 1,146 | 546,854 |
4.25%, 01/09/38 (Call 05/31/24)(k) | 6,305 | 3,196,390 |
17,174,375 | ||
Azerbaijan — 0.1% | ||
Republic of Azerbaijan International Bond, 3.50%, 09/01/32(a) | 600 | 495,188 |
Bahrain — 2.5% | ||
Bahrain Government International Bond | ||
5.25%, 01/25/33(a) | 600 | 523,470 |
5.45%, 09/16/32(a) | 600 | 538,590 |
5.63%, 09/30/31(a) | 400 | 368,750 |
5.63%, 05/18/34(a) | 600 | 526,688 |
6.00%, 09/19/44(a) | 600 | 476,115 |
6.75%, 09/20/29(a) | 600 | 596,970 |
7.00%, 01/26/26(a) | 800 | 804,750 |
7.00%, 10/12/28(a) | 900 | 914,040 |
7.38%, 05/14/30(a) | 600 | 614,220 |
7.50%, 02/12/36(a) | 600 | 596,100 |
7.75%, 04/18/35(a) | 600 | 611,437 |
CBB International Sukuk Co. 7 SPC, 6.88%, 10/05/25(a) | 400 | 403,250 |
CBB International Sukuk Programme Co. | ||
3.88%, 05/18/29(a) | 550 | 490,628 |
3.95%, 09/16/27(a) | 500 | 468,125 |
4.50%, 03/30/27(a) | 600 | 574,687 |
6.25%, 10/18/30(a) | 600 | 600,000 |
CBB International Sukuk Programme Co. WLL, 6.00%, 02/12/31(a) | 400 | 395,625 |
9,503,445 | ||
Bolivia — 0.1% | ||
Bolivian Government International Bond, 4.50%, 03/20/28(a) | 600 | 336,938 |
Security | Par (000 ) | Value |
Brazil — 4.9% | ||
Brazil Government International Bond, 6.25%, 03/18/31 | $1,000 | $990,500 |
Brazilian Government International Bond | ||
2.88%, 06/06/25(c) | 1,000 | 965,500 |
3.75%, 09/12/31(c) | 734 | 622,065 |
3.88%, 06/12/30 | 1,900 | 1,667,250 |
4.50%, 05/30/29 (Call 02/28/29) | 1,200 | 1,114,800 |
4.63%, 01/13/28 (Call 10/13/27)(c) | 1,600 | 1,532,800 |
4.75%, 01/14/50 (Call 07/14/49)(c) | 2,250 | 1,582,875 |
5.00%, 01/27/45(c) | 1,900 | 1,429,750 |
5.63%, 01/07/41(c) | 1,100 | 947,650 |
5.63%, 02/21/47 | 1,300 | 1,057,550 |
6.00%, 04/07/26(c) | 1,200 | 1,202,400 |
6.00%, 10/20/33 | 1,200 | 1,145,400 |
6.13%, 03/15/34 | 1,400 | 1,337,000 |
7.13%, 01/20/37(c) | 1,000 | 1,030,500 |
7.13%, 05/13/54 | 1,300 | 1,240,200 |
8.25%, 01/20/34 | 800 | 890,400 |
18,756,640 | ||
Colombia — 4.3% | ||
Colombia Government International Bond | ||
3.00%, 01/30/30 (Call 10/30/29) | 900 | 720,000 |
3.13%, 04/15/31 (Call 01/15/31) | 1,400 | 1,078,700 |
3.25%, 04/22/32 (Call 01/22/32)(c) | 1,200 | 898,200 |
3.88%, 04/25/27 (Call 01/25/27) | 1,200 | 1,111,200 |
3.88%, 02/15/61 (Call 08/15/60) | 800 | 428,800 |
4.13%, 02/22/42 (Call 08/22/41) | 600 | 380,100 |
4.13%, 05/15/51 (Call 11/15/50)(c) | 800 | 463,600 |
4.50%, 01/28/26 (Call 10/28/25) | 600 | 579,000 |
4.50%, 03/15/29 (Call 12/15/28) | 1,200 | 1,072,800 |
5.00%, 06/15/45 (Call 12/15/44) | 2,400 | 1,644,000 |
5.20%, 05/15/49 (Call 11/15/48) | 1,650 | 1,133,550 |
5.63%, 02/26/44 (Call 08/26/43) | 1,400 | 1,045,800 |
6.13%, 01/18/41 | 1,300 | 1,063,400 |
7.38%, 09/18/37 | 1,100 | 1,044,450 |
7.50%, 02/02/34 (Call 11/02/33) | 1,200 | 1,175,400 |
8.00%, 04/20/33 (Call 01/20/33)(c) | 889 | 902,779 |
8.00%, 11/14/35 (Call 08/14/35) | 600 | 603,300 |
8.75%, 11/14/53 (Call 05/14/53) | 1,000 | 1,026,000 |
16,371,079 | ||
Costa Rica — 0.9% | ||
Costa Rica Government International Bond | ||
6.13%, 02/19/31(a)(c) | 600 | 594,900 |
6.55%, 04/03/34 (Call 01/03/34)(a) | 800 | 807,600 |
7.00%, 04/04/44(a) | 650 | 659,141 |
7.16%, 03/12/45(a) | 600 | 616,200 |
7.30%, 11/13/54 (Call 05/13/53)(a) | 895 | 930,800 |
3,608,641 | ||
Dominican Republic — 3.1% | ||
Dominican Republic International Bond | ||
4.50%, 01/30/30(a) | 1,150 | 1,025,225 |
4.88%, 09/23/32(a) | 1,650 | 1,444,781 |
5.30%, 01/21/41(a) | 850 | 697,797 |
5.50%, 02/22/29 (Call 12/22/28)(a) | 1,000 | 951,563 |
5.88%, 01/30/60(a) | 1,800 | 1,468,687 |
5.95%, 01/25/27(a) | 950 | 931,950 |
6.00%, 07/19/28(a) | 650 | 635,578 |
6.00%, 02/22/33(a) | 1,000 | 944,000 |
6.40%, 06/05/49(a) | 850 | 764,575 |
6.50%, 02/15/48(a) | 450 | 410,906 |
Security | Par (000 ) | Value |
Dominican Republic (continued) | ||
6.85%, 01/27/45(a) | $1,100 | $1,046,719 |
6.88%, 01/29/26(a)(c) | 800 | 801,200 |
7.45%, 04/30/44(a) | 800 | 814,500 |
11,937,481 | ||
Ecuador — 1.2% | ||
Ecuador Government International Bond | ||
0.00%, 07/31/30(a)(i) | 482 | 261,779 |
2.50%, 07/31/40(a)(k) | 1,628 | 808,349 |
3.50%, 07/31/35(a)(k) | 4,035 | 2,199,369 |
6.00%, 07/31/30(a)(k) | 2,006 | 1,402,904 |
4,672,401 | ||
Egypt — 2.8% | ||
Egypt Government International Bond | ||
5.80%, 09/30/27(a) | 600 | 533,625 |
5.88%, 06/11/25(a) | 600 | 584,813 |
5.88%, 02/16/31(a) | 1,000 | 780,775 |
6.59%, 02/21/28(a) | 800 | 719,250 |
7.05%, 01/15/32(a) | 600 | 487,500 |
7.30%, 09/30/33(a) | 500 | 400,156 |
7.50%, 01/31/27(a) | 1,200 | 1,135,500 |
7.50%, 02/16/61(a) | 800 | 545,250 |
7.60%, 03/01/29(a) | 1,000 | 900,625 |
7.63%, 05/29/32(a) | 1,000 | 830,313 |
7.90%, 02/21/48(a) | 850 | 618,109 |
8.50%, 01/31/47(a) | 1,300 | 992,290 |
8.70%, 03/01/49(a) | 800 | 621,460 |
8.88%, 05/29/50(a) | 1,000 | 785,900 |
Egyptian Financial Co. for Sovereign Taskeek (The), 10.88%, 02/28/26(a) | 800 | 826,000 |
10,761,566 | ||
El Salvador — 0.4% | ||
El Salvador Government International Bond | ||
7.12%, 01/20/50 (Call 07/20/49)(a) | 550 | 352,000 |
7.65%, 06/15/35(a) | 550 | 396,344 |
9.25%, 04/17/30 (Call 03/17/30)(d) | 450 | 398,430 |
9.50%, 07/15/52 (Call 01/15/52)(a) | 550 | 431,750 |
1,578,524 | ||
Ghana — 0.8% | ||
Ghana Government International Bond | ||
6.38%, 02/11/27(a)(g)(h) | 800 | 384,500 |
7.63%, 05/16/29(a)(g)(h) | 500 | 241,563 |
7.75%, 04/07/29(a)(g)(h) | 600 | 289,875 |
7.88%, 02/11/35(a)(g)(h) | 400 | 193,500 |
8.13%, 01/18/26(a)(g)(h) | 470 | 233,678 |
8.13%, 03/26/32(a)(g)(h) | 700 | 339,062 |
8.63%, 04/07/34(a)(g)(h) | 600 | 290,813 |
8.63%, 06/16/49(a)(g)(h) | 600 | 284,760 |
8.95%, 03/26/51(a)(g)(h) | 500 | 242,650 |
10.75%, 10/14/30(a)(g)(h) | 600 | 390,000 |
2,890,401 | ||
Guatemala — 0.4% | ||
Guatemala Government Bond | ||
6.13%, 06/01/50 (Call 12/01/49)(a) | 900 | 787,500 |
6.60%, 06/13/36 (Call 03/13/36)(a) | 600 | 587,063 |
1,374,563 | ||
Iraq — 0.2% | ||
Iraq International Bond, 5.80%, 01/15/28(Call 06/16/24)(a) | 750 | 698,438 |
Security | Par (000 ) | Value |
Ivory Coast — 0.5% | ||
Ivory Coast Government International Bond | ||
6.13%, 06/15/33(a) | $800 | $700,420 |
7.63%, 01/30/33(a) | 600 | 573,750 |
8.25%, 01/30/37(a) | 800 | 764,000 |
2,038,170 | ||
Jamaica — 0.7% | ||
Jamaica Government International Bond | ||
6.75%, 04/28/28(c) | 700 | 713,563 |
7.88%, 07/28/45(c) | 1,100 | 1,261,219 |
8.00%, 03/15/39 | 700 | 809,812 |
2,784,594 | ||
Jordan — 0.7% | ||
Jordan Government International Bond | ||
5.75%, 01/31/27(a) | 600 | 569,625 |
5.85%, 07/07/30(a) | 700 | 629,562 |
6.13%, 01/29/26(a) | 400 | 387,750 |
7.38%, 10/10/47(a) | 600 | 511,500 |
7.50%, 01/13/29(a) | 600 | 591,375 |
2,689,812 | ||
Kenya — 0.8% | ||
Republic of Kenya Government International Bond | ||
6.30%, 01/23/34(a) | 600 | 475,125 |
7.25%, 02/28/28(a) | 600 | 565,200 |
8.00%, 05/22/32(a) | 600 | 549,240 |
8.25%, 02/28/48(a) | 600 | 505,860 |
9.75%, 02/16/31(a) | 800 | 802,250 |
2,897,675 | ||
Lebanon — 0.1% | ||
Lebanon Government International Bond | ||
6.00%, 01/27/23(a)(g)(h) | 500 | 31,750 |
6.10%, 10/04/24(a)(g)(h) | 730 | 46,355 |
6.60%, 11/27/26(a)(g)(h) | 860 | 54,438 |
6.65%, 02/26/30(a)(g)(h) | 760 | 48,260 |
6.75%, 11/29/27(a)(g)(h) | 520 | 33,020 |
6.85%, 03/23/27(a)(g)(h) | 700 | 44,450 |
7.00%, 03/23/32(a)(g)(h) | 525 | 33,338 |
291,611 | ||
Morocco — 0.6% | ||
Morocco Government International Bond | ||
3.00%, 12/15/32(a) | 600 | 467,250 |
4.00%, 12/15/50(a) | 800 | 527,000 |
5.95%, 03/08/28(a) | 600 | 595,200 |
6.50%, 09/08/33(a) | 700 | 700,875 |
2,290,325 | ||
Nigeria — 1.7% | ||
Nigeria Government International Bond | ||
6.13%, 09/28/28(a) | 600 | 529,470 |
6.50%, 11/28/27(a) | 1,000 | 922,900 |
7.14%, 02/23/30(a) | 714 | 627,204 |
7.38%, 09/28/33(a) | 800 | 662,000 |
7.63%, 11/21/25(a) | 300 | 298,125 |
7.63%, 11/28/47(a) | 800 | 595,500 |
7.70%, 02/23/38(a) | 600 | 472,500 |
7.88%, 02/16/32(a) | 800 | 700,000 |
8.25%, 09/28/51(a) | 800 | 627,250 |
8.38%, 03/24/29(a) | 600 | 568,650 |
8.75%, 01/21/31(a) | 600 | 564,660 |
6,568,259 |
Security | Par (000 ) | Value |
Oman — 3.0% | ||
Oman Government International Bond | ||
4.75%, 06/15/26(a) | $1,200 | $1,171,440 |
5.38%, 03/08/27(a) | 750 | 736,125 |
5.63%, 01/17/28(a) | 1,400 | 1,377,320 |
6.00%, 08/01/29(a) | 1,200 | 1,201,125 |
6.25%, 01/25/31(a) | 800 | 808,750 |
6.50%, 03/08/47(a) | 1,000 | 969,800 |
6.75%, 10/28/27(a) | 800 | 818,250 |
6.75%, 01/17/48(a) | 1,600 | 1,582,640 |
7.00%, 01/25/51(a) | 600 | 612,937 |
7.38%, 10/28/32(a) | 600 | 647,220 |
Oman Sovereign Sukuk Co. | ||
4.88%, 06/15/30(a) | 800 | 774,500 |
5.93%, 10/31/25(a) | 800 | 801,000 |
11,501,107 | ||
Pakistan — 0.6% | ||
Pakistan Global Sukuk Programme Co. Ltd. (The), 7.95%, 01/31/29(a) | 400 | 347,125 |
Pakistan Government International Bond | ||
6.00%, 04/08/26(a) | 700 | 630,438 |
6.88%, 12/05/27(a) | 950 | 812,354 |
7.38%, 04/08/31(a) | 800 | 634,750 |
2,424,667 | ||
Paraguay — 0.4% | ||
Paraguay Government International Bond | ||
4.95%, 04/28/31 (Call 01/28/31)(a) | 400 | 375,250 |
5.40%, 03/30/50 (Call 09/30/49)(a) | 600 | 499,687 |
6.10%, 08/11/44(a) | 600 | 553,875 |
1,428,812 | ||
Senegal — 0.2% | ||
Senegal Government International Bond | ||
6.25%, 05/23/33(a) | 500 | 422,656 |
6.75%, 03/13/48(a) | 600 | 442,125 |
864,781 | ||
Serbia — 0.3% | ||
Serbia International Bond | ||
2.13%, 12/01/30(a) | 735 | 571,922 |
6.50%, 09/26/33(a) | 500 | 498,750 |
1,070,672 | ||
South Africa — 2.3% | ||
Republic of South Africa Government International Bond | ||
4.30%, 10/12/28 | 1,000 | 890,000 |
4.85%, 09/27/27(c) | 600 | 561,750 |
4.85%, 09/30/29 | 1,100 | 979,000 |
4.88%, 04/14/26 | 804 | 777,850 |
5.00%, 10/12/46 | 400 | 260,500 |
5.38%, 07/24/44 | 700 | 491,750 |
5.65%, 09/27/47(c) | 1,000 | 706,250 |
5.75%, 09/30/49 | 1,550 | 1,100,500 |
5.88%, 09/16/25 | 986 | 977,372 |
5.88%, 06/22/30(c) | 700 | 644,000 |
5.88%, 04/20/32(c) | 800 | 711,000 |
7.30%, 04/20/52 | 900 | 759,375 |
8,859,347 | ||
Sri Lanka — 0.7% | ||
Sri Lanka Government International Bond | ||
6.20%, 05/11/27(a)(g)(h) | 700 | 395,577 |
6.75%, 04/18/28(a)(g)(h) | 700 | 393,827 |
Security | Par (000 ) | Value |
Sri Lanka (continued) | ||
6.83%, 07/18/26(a)(g)(h) | $600 | $342,375 |
6.85%, 03/14/24(a)(g)(h) | 600 | 338,316 |
6.85%, 11/03/25(a)(g)(h) | 900 | 517,599 |
7.55%, 03/28/30(a)(g)(h) | 800 | 450,250 |
7.85%, 03/14/29(a)(g)(h) | 700 | 394,702 |
2,832,646 | ||
Trinidad And Tobago — 0.1% | ||
Trinidad & Tobago Government International Bond, 4.50%, 08/04/26(a) | 400 | 384,600 |
Turkey — 10.3% | ||
Hazine Mustesarligi Varlik Kiralama AS | ||
5.13%, 06/22/26(a) | 1,400 | 1,363,460 |
7.25%, 02/24/27(a) | 1,500 | 1,518,750 |
8.51%, 01/14/29(a) | 1,400 | 1,473,500 |
9.76%, 11/13/25(a) | 1,400 | 1,474,375 |
Turkey Government International Bond | ||
4.25%, 04/14/26 | 900 | 869,063 |
4.75%, 01/26/26(c) | 1,000 | 975,600 |
4.88%, 10/09/26 | 1,700 | 1,647,406 |
5.13%, 02/17/28(c) | 1,000 | 943,750 |
5.25%, 03/13/30(c) | 1,200 | 1,078,875 |
5.88%, 06/26/31(c) | 1,100 | 998,250 |
5.95%, 01/15/31 | 1,200 | 1,098,000 |
6.00%, 03/25/27(c) | 1,700 | 1,670,207 |
6.13%, 10/24/28(c) | 1,500 | 1,456,575 |
6.38%, 10/14/25(c) | 1,200 | 1,203,960 |
6.50%, 09/20/33(c) | 900 | 832,781 |
7.63%, 04/26/29(c) | 1,600 | 1,622,000 |
8.00%, 02/14/34 | 750 | 772,031 |
8.60%, 09/24/27 | 1,200 | 1,264,560 |
9.13%, 07/13/30 | 1,300 | 1,398,719 |
9.38%, 03/14/29 | 1,300 | 1,408,875 |
9.88%, 01/15/28 | 2,000 | 2,196,250 |
Turkiye Government International Bond | ||
4.88%, 04/16/43(c) | 1,770 | 1,210,238 |
5.75%, 05/11/47(c) | 2,000 | 1,483,440 |
6.00%, 01/14/41(c) | 1,700 | 1,371,688 |
6.63%, 02/17/45(c) | 1,600 | 1,339,000 |
6.75%, 05/30/40(c) | 900 | 793,080 |
6.88%, 03/17/36 | 1,550 | 1,437,625 |
7.25%, 03/05/38(c) | 500 | 474,688 |
7.63%, 05/15/34(c) | 1,800 | 1,780,312 |
9.38%, 01/19/33(c) | 1,400 | 1,543,500 |
11.88%, 01/15/30(c) | 700 | 866,031 |
Turkiye Vakiflar Bankasi TAO, 5.50%, 10/01/26(a) | 200 | 193,000 |
39,759,589 | ||
Ukraine — 0.6% | ||
Ukraine Government International Bond | ||
6.88%, 05/21/29(a)(g)(h) | 1,000 | 249,200 |
7.25%, 03/15/33(a)(g)(h) | 1,400 | 343,560 |
7.38%, 09/25/32(a)(g)(h) | 1,600 | 395,360 |
7.75%, 09/01/24(a)(g)(h) | 850 | 243,950 |
7.75%, 09/01/25(a)(g)(h) | 1,325 | 392,712 |
7.75%, 09/01/26(a)(g)(h) | 700 | 196,315 |
7.75%, 09/01/27(a)(g)(h) | 750 | 209,250 |
9.75%, 11/01/28(a)(g)(h) | 800 | 238,800 |
2,269,147 |
Security | Par (000 ) | Value |
United Arab Emirates — 1.1% | ||
Emirate of Dubai Government International Bond, 5.25%, 01/30/43(a) | $600 | $550,875 |
Emirate of Dubai Government International Bonds, 3.90%, 09/09/50(a) | 600 | 421,125 |
Finance Department Government of Sharjah | ||
4.00%, 07/28/50(a) | 500 | 310,469 |
6.13%, 03/06/36(a) | 400 | 389,625 |
6.50%, 11/23/32(a) | 500 | 505,814 |
Sharjah Sukuk Program Ltd. | ||
2.94%, 06/10/27(a) | 600 | 551,437 |
3.23%, 10/23/29(a) | 500 | 441,406 |
3.85%, 04/03/26(a) | 400 | 384,875 |
4.23%, 03/14/28(a) | 800 | 757,750 |
4,313,376 | ||
Zambia — 0.2% | ||
Zambia Government International Bond | ||
8.50%, 04/14/24(a)(g)(h) | 400 | 294,060 |
8.97%, 07/30/27(a)(g)(h) | 600 | 435,000 |
729,060 | ||
Total Foreign Government Obligations — 52.1% (Cost: $232,027,399) | 200,171,211 | |
Total Long-Term Investments — 97.7% (Cost: $421,562,414) | 375,547,428 | |
Shares | ||
Short-Term Securities | ||
Money Market Funds — 9.9% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.49%(l)(m)(n) | 34,941,244 | 34,951,727 |
Security | Shares | Value |
Money Market Funds (continued) | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(l)(m) | 3,250,000 | $3,250,000 |
Total Short-Term Securities — 9.9% (Cost: $38,187,849) | 38,201,727 | |
Total Investments — 107.6% (Cost: $459,750,263) | 413,749,155 | |
Liabilities in Excess of Other Assets — (7.6)% | (29,131,670 ) | |
Net Assets — 100.0% | $384,617,485 |
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) | All or a portion of this security is on loan. |
(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) | Perpetual security with no stated maturity date. |
(f) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(g) | Issuer filed for bankruptcy and/or is in default. |
(h) | Non-income producing security. |
(i) | Zero-coupon bond. |
(j) | U.S. dollar denominated security issued by foreign domiciled entity. |
(k) | 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. |
(l) | Affiliate of the Fund. |
(m) | Annualized 7-day yield as of period end. |
(n) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/24 | Shares Held at 04/30/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $38,876,276 | $— | $(3,918,635 )(a) | $331 | $(6,245 ) | $34,951,727 | 34,941,244 | $127,034 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 4,080,000 | — | (830,000 )(a) | — | — | 3,250,000 | 3,250,000 | 56,420 | — |
$331 | $(6,245 ) | $38,201,727 | $183,454 | $— |
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Corporate Bonds & Notes | $— | $175,376,217 | $— | $175,376,217 |
Foreign Government Obligations | — | 200,171,211 | — | 200,171,211 |
Short-Term Securities | ||||
Money Market Funds | 38,201,727 | — | — | 38,201,727 |
$38,201,727 | $375,547,428 | $— | $413,749,155 |
Security | Par (000 ) | Value |
Foreign Government Obligations(a) | ||
Brazil — 5.6% | ||
Brazil Letras do Tesouro Nacional | ||
0.00%, 07/01/25(b) | BRL 14 | $2,383,995 |
0.00%, 01/01/26(b) | BRL 21 | 3,453,899 |
0.00%, 07/01/26(b) | BRL 26 | 3,945,508 |
0.00%, 07/01/27(b) | BRL 11 | 1,533,223 |
0.00%, 01/01/28(b) | BRL 3 | 613,350 |
0.00%, 01/01/30(b) | BRL 3 | 307,408 |
Brazil Notas do Tesouro Nacional | ||
10.00%, 01/01/33 | BRL 7 | 1,313,923 |
10.00%, 01/01/35 | BRL 2 | 275,896 |
Series F, 10.00%, 01/01/25 | BRL 15 | 2,808,919 |
Series F, 10.00%, 01/01/27 | BRL 16 | 2,960,421 |
Series F, 10.00%, 01/01/29 | BRL 16 | 3,007,458 |
Series F, 10.00%, 01/01/31 | BRL 8 | 1,497,007 |
24,101,007 | ||
Chile — 4.4% | ||
Bonos de la Tesoreria de la Republica en pesos | ||
2.30%, 10/01/28(c)(d) | CLP 780,000 | 700,236 |
2.50%, 03/01/25 | CLP 3,900,000 | 3,959,434 |
4.50%, 03/01/26 | CLP 2,330,000 | 2,378,066 |
4.70%, 09/01/30(c)(d) | CLP 2,745,000 | 2,656,367 |
5.00%, 10/01/28(c)(d) | CLP 1,050,000 | 1,056,325 |
5.00%, 03/01/35 | CLP 2,825,000 | 2,692,548 |
6.00%, 04/01/33(c) | CLP 2,005,000 | 2,078,107 |
6.00%, 01/01/43 | CLP 2,600,000 | 2,727,563 |
7.00%, 05/01/34(c) | CLP 790,000 | 878,860 |
19,127,506 | ||
China — 14.9% | ||
China Government Bond | ||
1.99%, 04/09/25 | CNY 9,980 | 1,381,076 |
2.18%, 08/25/25 | CNY 6,740 | 933,089 |
2.18%, 08/15/26 | CNY 5,490 | 760,541 |
2.24%, 05/25/25 | CNY 7,980 | 1,106,420 |
2.26%, 02/24/25 | CNY 5,720 | 792,863 |
2.28%, 11/25/25 | CNY 4,930 | 684,267 |
2.35%, 02/25/34 | CNY 2,250 | 311,849 |
2.37%, 01/20/27 | CNY 5,070 | 706,576 |
2.39%, 11/15/26 | CNY 4,780 | 666,455 |
2.40%, 07/15/28 | CNY 7,010 | 976,401 |
2.44%, 10/15/27 | CNY 6,570 | 916,144 |
2.46%, 02/15/26 | CNY 9,540 | 1,328,716 |
2.48%, 04/15/27 | CNY 5,530 | 773,788 |
2.50%, 07/25/27 | CNY 6,610 | 924,058 |
2.52%, 08/25/33 | CNY 7,450 | 1,042,614 |
2.54%, 12/25/30 | CNY 9,050 | 1,266,725 |
2.55%, 10/15/28 | CNY 1,430 | 200,770 |
2.60%, 09/15/30 | CNY 9,970 | 1,399,758 |
2.60%, 09/01/32 | CNY 7,800 | 1,095,333 |
2.62%, 09/25/29 | CNY 7,600 | 1,069,749 |
2.62%, 06/25/30 | CNY 8,600 | 1,209,397 |
2.64%, 01/15/28 | CNY 9,170 | 1,287,363 |
2.67%, 11/25/33 | CNY 6,740 | 954,097 |
2.68%, 05/21/30 | CNY 9,570 | 1,349,515 |
2.69%, 08/12/26 | CNY 9,590 | 1,344,783 |
2.69%, 08/15/32 | CNY 8,490 | 1,200,448 |
2.75%, 06/15/29 | CNY 8,960 | 1,268,769 |
2.75%, 02/17/32 | CNY 6,480 | 921,470 |
2.76%, 05/15/32 | CNY 8,580 | 1,218,927 |
2.79%, 12/15/29 | CNY 8,850 | 1,257,289 |
Security | Par (000 ) | Value |
China (continued) | ||
2.80%, 03/24/29 | CNY 7,960 | $1,130,718 |
2.80%, 03/25/30 | CNY 8,750 | 1,241,567 |
2.80%, 11/15/32 | CNY 6,650 | 948,941 |
2.85%, 06/04/27 | CNY 12,260 | 1,734,298 |
2.88%, 02/25/33 | CNY 8,910 | 1,279,646 |
2.89%, 11/18/31 | CNY 8,850 | 1,270,182 |
3.01%, 05/13/28 | CNY 8,610 | 1,231,379 |
3.02%, 10/22/25 | CNY 11,050 | 1,551,386 |
3.02%, 05/27/31 | CNY 9,090 | 1,314,606 |
3.03%, 03/11/26 | CNY 10,120 | 1,427,329 |
3.12%, 12/05/26 | CNY 8,810 | 1,254,668 |
3.12%, 10/25/52 | CNY 6,080 | 925,422 |
3.13%, 11/21/29 | CNY 10,100 | 1,464,996 |
3.19%, 04/15/53 | CNY 4,010 | 624,187 |
3.22%, 12/06/25 | CNY 7,660 | 1,081,696 |
3.25%, 06/06/26 | CNY 8,250 | 1,172,403 |
3.27%, 11/19/30 | CNY 10,570 | 1,556,576 |
3.28%, 12/03/27 | CNY 8,430 | 1,216,848 |
3.29%, 05/23/29 | CNY 9,690 | 1,414,947 |
3.32%, 04/15/52 | CNY 4,550 | 713,287 |
3.53%, 10/18/51 | CNY 3,590 | 579,633 |
3.72%, 04/12/51 | CNY 5,820 | 966,995 |
3.81%, 09/14/50 | CNY 10,140 | 1,715,004 |
China Government Bonds | ||
2.30%, 05/15/26 | CNY 8,450 | 1,176,483 |
2.62%, 04/15/28 | CNY 10,670 | 1,498,279 |
2.67%, 05/25/33 | CNY 10,260 | 1,452,634 |
2.91%, 10/14/28 | CNY 9,570 | 1,363,576 |
3.25%, 11/22/28 | CNY 7,240 | 1,050,985 |
64,707,921 | ||
Colombia — 4.3% | ||
Colombia TES, 13.25%, 02/09/33 | COP 7,456,600 | 2,173,790 |
Colombian TES | ||
9.25%, 05/28/42 | COP 9,958,400 | 2,162,309 |
Series B, 5.75%, 11/03/27 | COP 4,855,600 | 1,085,925 |
Series B, 6.00%, 04/28/28 | COP 8,844,100 | 1,962,503 |
Series B, 6.25%, 11/26/25 | COP 4,048,400 | 990,759 |
Series B, 6.25%, 07/09/36 | COP 3,022,300 | 534,162 |
Series B, 7.00%, 03/26/31 | COP 7,923,500 | 1,700,099 |
Series B, 7.00%, 06/30/32 | COP 7,571,800 | 1,575,621 |
Series B, 7.25%, 10/18/34 | COP 7,820,900 | 1,577,642 |
Series B, 7.25%, 10/26/50 | COP 8,037,900 | 1,377,528 |
Series B, 7.50%, 08/26/26 | COP 7,770,900 | 1,883,275 |
Series B, 7.75%, 09/18/30 | COP 6,129,600 | 1,385,695 |
18,409,308 | ||
Czech Republic — 4.4% | ||
Czech Republic Government Bond | ||
0.00%, 12/12/24(b) | CZK 6,760 | 278,362 |
0.05%, 11/29/29 | CZK 15,140 | 509,436 |
0.25%, 02/10/27 | CZK 27,500 | 1,047,982 |
0.95%, 05/15/30(d) | CZK 35,490 | 1,242,659 |
1.00%, 06/26/26(d) | CZK 25,610 | 1,015,199 |
1.20%, 03/13/31 | CZK 34,630 | 1,202,217 |
1.25%, 02/14/25 | CZK 22,130 | 915,839 |
1.50%, 04/24/40 | CZK 17,060 | 485,264 |
1.75%, 06/23/32 | CZK 27,840 | 972,714 |
1.95%, 07/30/37 | CZK 11,830 | 379,765 |
2.00%, 10/13/33 | CZK 31,240 | 1,086,233 |
2.40%, 09/17/25(d) | CZK 28,610 | 1,182,688 |
2.50%, 08/25/28(d) | CZK 35,270 | 1,397,410 |
Security | Par (000 ) | Value |
Czech Republic (continued) | ||
2.75%, 07/23/29 | CZK 33,580 | $1,325,123 |
3.50%, 05/30/35 | CZK 15,750 | 615,320 |
4.20%, 12/04/36(d) | CZK 12,950 | 541,732 |
4.50%, 11/11/32 | CZK 14,180 | 606,458 |
4.90%, 04/14/34 | CZK 10,440 | 460,580 |
5.00%, 09/30/30 | CZK 29,560 | 1,302,829 |
5.50%, 12/12/28 | CZK 18,310 | 818,548 |
5.75%, 03/29/29 | CZK 12,140 | 548,526 |
6.00%, 02/26/26 | CZK 18,770 | 818,788 |
6.20%, 06/16/31 | CZK 4,840 | 228,528 |
18,982,200 | ||
Dominican Republic — 4.4% | ||
Dominican Republic International Bond | ||
11.25%, 09/15/35 (Call 06/15/35)(d) | DOP 545,500 | 9,755,646 |
13.63%, 02/03/33 (Call 11/03/32)(d) | DOP 465,700 | 9,363,513 |
19,119,159 | ||
Hungary — 4.4% | ||
Hungary Government Bond | ||
1.00%, 11/26/25 | HUF 534,760 | 1,326,841 |
1.50%, 04/22/26 | HUF 544,340 | 1,332,861 |
1.50%, 08/26/26 | HUF 386,310 | 928,014 |
2.00%, 05/23/29 | HUF 403,850 | 864,426 |
2.25%, 04/20/33 | HUF 639,010 | 1,189,760 |
2.25%, 06/22/34 | HUF 219,350 | 392,313 |
2.75%, 12/22/26 | HUF 424,340 | 1,035,178 |
3.00%, 10/27/27 | HUF 482,090 | 1,147,149 |
3.00%, 08/21/30 | HUF 526,740 | 1,138,077 |
3.00%, 10/27/38 | HUF 434,410 | 754,592 |
3.00%, 04/25/41 | HUF 314,930 | 519,016 |
3.25%, 10/22/31 | HUF 748,460 | 1,587,544 |
4.50%, 03/23/28 | HUF 311,760 | 774,109 |
4.75%, 11/24/32 | HUF 552,590 | 1,278,175 |
5.50%, 06/24/25 | HUF 491,780 | 1,315,005 |
6.75%, 10/22/28 | HUF 855,040 | 2,288,801 |
7.00%, 10/24/35 | HUF 123,290 | 333,935 |
9.50%, 10/21/26 | HUF 233,370 | 666,554 |
18,872,350 | ||
Indonesia — 6.7% | ||
Indonesia Treasury Bond | ||
5.13%, 04/15/27 | IDR 15,259,000 | 887,967 |
5.50%, 04/15/26 | IDR 20,168,000 | 1,206,855 |
6.13%, 05/15/28 | IDR 15,475,000 | 922,073 |
6.25%, 06/15/36 | IDR 5,609,000 | 319,430 |
6.38%, 08/15/28 | IDR 13,732,000 | 821,219 |
6.38%, 04/15/32 | IDR 21,761,000 | 1,266,735 |
6.38%, 07/15/37 | IDR 2,511,000 | 143,618 |
6.50%, 06/15/25 | IDR 20,009,000 | 1,219,641 |
6.50%, 02/15/31 | IDR 26,553,000 | 1,569,431 |
6.63%, 05/15/33 | IDR 14,393,000 | 848,886 |
6.63%, 02/15/34 | IDR 11,669,000 | 686,317 |
6.88%, 04/15/29 | IDR 7,897,000 | 479,420 |
7.00%, 05/15/27 | IDR 15,446,000 | 946,963 |
7.00%, 09/15/30 | IDR 21,952,000 | 1,332,456 |
7.00%, 02/15/33 | IDR 22,646,000 | 1,372,195 |
7.13%, 06/15/38 | IDR 12,555,000 | 766,177 |
7.13%, 06/15/42 | IDR 17,037,000 | 1,039,404 |
7.13%, 06/15/43 | IDR 11,404,000 | 700,033 |
7.50%, 08/15/32 | IDR 8,559,000 | 538,280 |
7.50%, 06/15/35 | IDR 13,534,000 | 846,289 |
7.50%, 05/15/38 | IDR 9,483,000 | 593,540 |
Security | Par (000 ) | Value |
Indonesia (continued) | ||
7.50%, 04/15/40 | IDR 16,169,000 | $1,016,778 |
8.25%, 05/15/29 | IDR 14,522,000 | 932,409 |
8.25%, 06/15/32 | IDR 6,046,000 | 393,585 |
8.25%, 05/15/36 | IDR 13,435,000 | 891,763 |
8.38%, 09/15/26 | IDR 16,750,000 | 1,054,155 |
8.38%, 03/15/34 | IDR 17,559,000 | 1,160,017 |
8.38%, 04/15/39 | IDR 10,088,000 | 684,966 |
8.75%, 05/15/31 | IDR 8,461,000 | 561,985 |
9.00%, 03/15/29 | IDR 12,524,000 | 826,461 |
9.50%, 07/15/31 | IDR 4,603,000 | 319,322 |
10.50%, 08/15/30 | IDR 4,112,000 | 294,112 |
11.00%, 09/15/25 | IDR 3,897,000 | 250,231 |
Perusahaan Penerbit SBSN Indonesia | ||
4.88%, 07/15/26 | IDR 4,867,000 | 286,351 |
6.38%, 03/15/34 | IDR 11,752,000 | 705,590 |
6.50%, 06/15/39 | IDR 2,829,000 | 170,276 |
6.63%, 09/15/29 | IDR 3,752,000 | 229,666 |
6.88%, 03/15/36 | IDR 3,722,000 | 232,133 |
8.88%, 11/15/31 | IDR 8,937,000 | 614,558 |
29,131,287 | ||
Malaysia — 5.7% | ||
Malaysia Government Bond | ||
2.63%, 04/15/31 | MYR 3,143 | 608,185 |
3.50%, 05/31/27 | MYR 2,414 | 503,817 |
3.52%, 04/20/28 | MYR 2,244 | 466,145 |
3.58%, 07/15/32 | MYR 3,464 | 706,083 |
3.73%, 06/15/28 | MYR 3,408 | 712,306 |
3.76%, 05/22/40 | MYR 3,655 | 730,923 |
3.83%, 07/05/34 | MYR 2,773 | 573,890 |
3.88%, 03/14/25 | MYR 2,740 | 576,161 |
3.89%, 08/15/29 | MYR 2,753 | 579,154 |
3.90%, 11/30/26 | MYR 3,239 | 684,686 |
3.90%, 11/16/27 | MYR 3,954 | 835,746 |
3.91%, 07/15/26 | MYR 2,683 | 565,861 |
3.96%, 09/15/25 | MYR 4,254 | 896,571 |
4.07%, 06/15/50 | MYR 4,102 | 824,904 |
4.25%, 05/31/35 | MYR 2,642 | 563,276 |
4.46%, 03/31/53 | MYR 2,493 | 536,210 |
4.50%, 04/30/29 | MYR 1,473 | 318,211 |
4.64%, 11/07/33 | MYR 2,381 | 524,698 |
4.70%, 10/15/42 | MYR 3,914 | 869,158 |
4.76%, 04/07/37 | MYR 3,639 | 812,894 |
4.89%, 06/08/38 | MYR 3,789 | 858,470 |
4.92%, 07/06/48 | MYR 2,595 | 593,656 |
Malaysia Government Investment Issue | ||
3.42%, 09/30/27 | MYR 3,256 | 677,500 |
3.45%, 07/15/36 | MYR 3,020 | 596,027 |
3.47%, 10/15/30 | MYR 3,302 | 675,483 |
3.60%, 07/31/28 | MYR 3,798 | 790,557 |
3.73%, 03/31/26 | MYR 3,992 | 839,930 |
3.99%, 10/15/25 | MYR 3,713 | 783,095 |
4.07%, 09/30/26 | MYR 3,835 | 811,638 |
4.13%, 08/15/25 | MYR 1,483 | 313,489 |
4.13%, 07/09/29 | MYR 3,004 | 637,496 |
4.19%, 10/07/32 | MYR 2,892 | 616,273 |
4.25%, 09/30/30 | MYR 3,432 | 733,934 |
4.26%, 07/26/27 | MYR 1,715 | 366,052 |
4.29%, 08/14/43 | MYR 3,067 | 648,006 |
4.37%, 10/31/28 | MYR 2,871 | 616,250 |
4.42%, 09/30/41 | MYR 2,114 | 457,528 |
4.47%, 09/15/39 | MYR 3,213 | 701,986 |
Security | Par (000 ) | Value |
Malaysia (continued) | ||
4.66%, 03/31/38 | MYR 833 | $185,346 |
24,791,595 | ||
Mexico — 6.8% | ||
Mexican Bonos | ||
5.00%, 03/06/25 | MXN 231 | 1,282,432 |
5.50%, 03/04/27 | MXN 503 | 2,590,642 |
7.50%, 05/26/33 | MXN 399 | 1,984,226 |
8.00%, 07/31/53 | MXN 346 | 1,629,702 |
8.50%, 03/01/29 | MXN 199 | 1,087,980 |
Series M, 5.75%, 03/05/26 | MXN 608 | 3,254,536 |
Series M, 7.75%, 05/29/31 | MXN 571 | 2,949,641 |
Series M, 7.75%, 11/23/34 | MXN 137 | 683,321 |
Series M, 7.75%, 11/13/42 | MXN 471 | 2,215,095 |
Series M, 8.00%, 11/07/47 | MXN 348 | 1,661,581 |
Series M 20, 7.50%, 06/03/27 | MXN 499 | 2,696,101 |
Series M 20, 8.50%, 05/31/29 | MXN 400 | 2,187,064 |
Series M 20, 10.00%, 12/05/24 | MXN 274 | 1,588,655 |
Series M 30, 8.50%, 11/18/38 | MXN 328 | 1,694,001 |
Series M 30, 10.00%, 11/20/36 | MXN 117 | 686,803 |
Mexico Bonos | ||
7.00%, 09/03/26 | MXN 222 | 1,195,930 |
8.00%, 05/24/35 | MXN 48 | 243,681 |
29,631,391 | ||
Peru — 4.4% | ||
Peru Government Bond | ||
5.35%, 08/12/40 | PEN 6 | 1,193,827 |
5.40%, 08/12/34 | PEN 8 | 1,792,452 |
5.94%, 02/12/29 | PEN 10 | 2,621,889 |
6.15%, 08/12/32 | PEN 11 | 2,741,565 |
6.35%, 08/12/28 | PEN 6 | 1,765,722 |
6.90%, 08/12/37 | PEN 10 | 2,540,997 |
6.95%, 08/12/31 | PEN 10 | 2,661,208 |
7.30%, 08/12/33(c)(d) | PEN 10 | 2,601,875 |
8.20%, 08/12/26 | PEN 4 | 1,245,705 |
19,165,240 | ||
Poland — 4.3% | ||
Republic of Poland Government Bond | ||
0.25%, 10/25/26 | PLN 4,972 | 1,084,711 |
0.75%, 04/25/25 | PLN 4,916 | 1,162,430 |
1.25%, 10/25/30 | PLN 7,894 | 1,496,637 |
1.75%, 04/25/32 | PLN 6,500 | 1,205,538 |
2.50%, 07/25/26 | PLN 7,814 | 1,814,245 |
2.50%, 07/25/27 | PLN 5,077 | 1,145,992 |
2.75%, 04/25/28 | PLN 5,645 | 1,259,507 |
2.75%, 10/25/29 | PLN 7,202 | 1,545,579 |
3.25%, 07/25/25 | PLN 6,014 | 1,447,666 |
3.75%, 05/25/27 | PLN 5,481 | 1,290,097 |
7.50%, 07/25/28 | PLN 8,006 | 2,115,440 |
Republic of Poland Government Bonds | ||
0.00%, 10/25/25(b) | PLN 4,274 | 977,373 |
6.00%, 10/25/33 | PLN 8,455 | 2,125,818 |
18,671,033 | ||
Romania — 4.3% | ||
Romania Government Bond | ||
2.50%, 10/25/27 | RON 3,420 | 648,298 |
3.25%, 06/24/26 | RON 4,675 | 948,293 |
3.50%, 11/25/25 | RON 3,540 | 731,431 |
3.65%, 07/28/25 | RON 3,295 | 687,288 |
3.65%, 09/24/31 | RON 3,875 | 680,140 |
4.15%, 01/26/28 | RON 4,195 | 835,964 |
Security | Par (000 ) | Value |
Romania (continued) | ||
4.15%, 10/24/30 | RON 4,915 | $918,738 |
4.25%, 04/28/36 | RON 4,020 | 673,694 |
4.75%, 02/24/25 | RON 4,070 | 863,972 |
4.75%, 10/11/34 | RON 5,440 | 979,321 |
4.85%, 04/22/26 | RON 4,185 | 878,449 |
4.85%, 07/25/29 | RON 4,810 | 953,041 |
5.00%, 02/12/29 | RON 3,455 | 695,353 |
5.80%, 07/26/27 | RON 3,910 | 825,756 |
6.70%, 02/25/32 | RON 4,480 | 949,906 |
7.20%, 10/28/26 | RON 3,295 | 719,757 |
7.20%, 05/31/27 | RON 3,560 | 780,872 |
7.20%, 10/30/33 | RON 3,920 | 856,533 |
7.35%, 04/28/31 | RON 4,150 | 916,374 |
7.90%, 02/24/38 | RON 3,395 | 784,195 |
8.00%, 04/29/30 | RON 1,885 | 428,202 |
8.25%, 09/29/32 | RON 4,250 | 989,065 |
Romania Government Bonds | ||
8.00%, 04/29/30 | RON 1,005 | 228,298 |
8.75%, 10/30/28 | RON 3,510 | 815,184 |
18,788,124 | ||
Serbia — 4.4% | ||
Serbia Treasury Bonds | ||
4.50%, 01/11/26 | RSD 491,380 | 4,425,173 |
4.50%, 08/20/32 | RSD 755,250 | 6,215,592 |
5.88%, 02/08/28 | RSD 526,810 | 4,894,885 |
7.00%, 10/26/31 | RSD 382,650 | 3,688,737 |
19,224,387 | ||
South Africa — 4.5% | ||
Republic of South Africa Government Bond | ||
6.25%, 03/31/36 | ZAR 17,728 | 592,528 |
6.50%, 02/28/41 | ZAR 16,942 | 522,362 |
7.00%, 02/28/31 | ZAR 29,067 | 1,240,202 |
8.00%, 01/31/30 | ZAR 52,451 | 2,472,595 |
8.25%, 03/31/32 | ZAR 47,687 | 2,108,614 |
8.50%, 01/31/37 | ZAR 45,636 | 1,812,074 |
8.75%, 01/31/44 | ZAR 38,790 | 1,461,983 |
8.75%, 02/28/48 | ZAR 64,220 | 2,398,248 |
8.88%, 02/28/35 | ZAR 45,534 | 1,945,634 |
9.00%, 01/31/40 | ZAR 38,839 | 1,541,283 |
10.50%, 12/21/26 | ZAR 54,575 | 2,968,415 |
11.63%, 03/31/53 | ZAR 8,625 | 420,213 |
19,484,151 | ||
Thailand — 5.0% | ||
Thailand Government Bond | ||
0.95%, 06/17/25 | THB 33,103 | 877,774 |
1.00%, 06/17/27 | THB 46,205 | 1,189,411 |
1.45%, 12/17/24 | THB 36,365 | 975,967 |
1.59%, 12/17/35 | THB 31,118 | 730,677 |
1.60%, 12/17/29 | THB 34,642 | 884,371 |
1.60%, 06/17/35 | THB 21,752 | 516,449 |
2.00%, 12/17/31 | THB 44,706 | 1,145,033 |
2.00%, 06/17/42 | THB 24,394 | 547,788 |
2.13%, 12/17/26 | THB 37,421 | 1,000,855 |
2.25%, 03/17/27 | THB 23,709 | 635,460 |
2.35%, 06/17/26 | THB 37,212 | 1,001,692 |
2.40%, 03/17/29 | THB 28,497 | 760,561 |
2.65%, 06/17/28 | THB 41,698 | 1,128,524 |
2.80%, 06/17/34 | THB 15,897 | 427,683 |
2.88%, 12/17/28 | THB 31,240 | 852,567 |
2.88%, 06/17/46 | THB 23,079 | 576,788 |
Security | Par (000 ) | Value |
Thailand (continued) | ||
3.30%, 06/17/38 | THB 38,233 | $1,057,752 |
3.35%, 06/17/33 | THB 33,922 | 953,862 |
3.39%, 06/17/37 | THB 32,358 | 906,478 |
3.40%, 06/17/36 | THB 28,022 | 787,277 |
3.45%, 06/17/43 | THB 31,483 | 864,636 |
3.65%, 06/20/31 | THB 31,281 | 894,539 |
3.78%, 06/25/32 | THB 36,650 | 1,059,745 |
3.85%, 12/12/25 | THB 29,920 | 824,697 |
4.88%, 06/22/29 | THB 28,369 | 847,166 |
21,447,752 | ||
Turkey — 4.4% | ||
Turkey Government Bond | ||
8.00%, 03/12/25 | TRY 16,741 | 399,566 |
10.50%, 08/11/27 | TRY 95,402 | 1,764,513 |
10.60%, 02/11/26 | TRY 49,445 | 1,006,118 |
11.00%, 02/24/27 | TRY 36,838 | 704,076 |
11.70%, 11/13/30 | TRY 93,010 | 1,720,273 |
12.40%, 03/08/28 | TRY 112,870 | 2,195,626 |
12.60%, 10/01/25 | TRY 148,736 | 3,269,907 |
16.90%, 09/02/26 | TRY 69,270 | 1,544,265 |
Turkiye Government Bond | ||
17.30%, 07/19/28 | TRY 103,163 | 2,406,566 |
17.80%, 07/13/33 | TRY 86,192 | 1,908,207 |
26.20%, 10/05/33 | TRY 72,343 | 2,206,952 |
19,126,069 | ||
Uruguay — 4.5% | ||
Uruguay Government International Bond | ||
8.25%, 05/21/31 | UYU 378,017 | 9,389,943 |
8.50%, 03/15/28(d) | UYU 171,807 | 4,382,424 |
Uruguay Government International Bonds, 9.75%, 07/20/33(Call 04/20/33) | UYU 206,290 | 5,560,879 |
19,333,246 | ||
Total Long-Term Investments — 97.4% (Cost: $452,942,053) | 422,113,726 |
Security | Shares | Value |
Short-Term Securities | ||
Money Market Funds — 0.2% | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(e)(f) | 960,000 | $960,000 |
Total Short-Term Securities — 0.2% (Cost: $960,000) | 960,000 | |
Total Investments — 97.6% (Cost: $453,902,053) | 423,073,726 | |
Other Assets Less Liabilities — 2.4% | 10,578,395 | |
Net Assets — 100.0% | $433,652,121 |
(a) | U.S. dollar denominated security issued by foreign domiciled entity. |
(b) | Zero-coupon bond. |
(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) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/24 | Shares Held at 04/30/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Treasury, SL Agency Shares | $21,570,000 | $— | $(20,610,000 )(a) | $— | $— | $960,000 | 960,000 | $58,081 | $— |
(a) | Represents net amount purchased (sold). |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Foreign Government Obligations | $— | $422,113,726 | $— | $422,113,726 |
Short-Term Securities | ||||
Money Market Funds | 960,000 | — | — | 960,000 |
$960,000 | $422,113,726 | $— | $423,073,726 |
Security | Par (000 ) | Value |
Corporate Bonds & Notes | ||
Australia — 0.6% | ||
APA Infrastructure Ltd., 7.13%, 11/09/83 (Call 11/09/28), (5-year EURIBOR ICE Swap + 4.098%)(a)(b) | EUR 100 | $113,654 |
FMG Resources August 2006 Pty. Ltd. | ||
4.38%, 04/01/31 (Call 01/01/31)(c)(d) | USD 150 | 131,770 |
4.50%, 09/15/27 (Call 06/15/27)(c) | USD 55 | 51,867 |
FMG Resources August Pty. Ltd. | ||
5.88%, 04/15/30 (Call 01/15/30)(c) | USD 55 | 52,780 |
6.13%, 04/15/32 (Call 01/15/32)(c)(d) | USD 75 | 72,748 |
Mineral Resources Ltd. | ||
8.00%, 11/01/27 (Call 11/01/24)(c) | USD 45 | 45,506 |
8.13%, 05/01/27 (Call 05/31/24)(c) | USD 50 | 50,563 |
8.50%, 05/01/30 (Call 05/01/25)(c)(d) | USD 70 | 71,666 |
9.25%, 10/01/28 (Call 10/01/25)(c) | USD 125 | 131,250 |
721,804 | ||
Austria — 0.2% | ||
ams-OSRAM AG, 10.50%, 03/30/29 (Call 03/30/26)(a) | EUR 100 | 106,646 |
Benteler International AG, 9.38%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 113,993 |
220,639 | ||
Belgium — 0.2% | ||
Ontex Group NV, 3.50%, 07/15/26 (Call 05/10/24)(a) | EUR 100 | 103,806 |
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 05/13/24)(c) | USD 200 | 185,650 |
289,456 | ||
Canada — 3.6% | ||
1011778 BC ULC/New Red Finance Inc. | ||
3.50%, 02/15/29 (Call 05/13/24)(c)(d) | USD 95 | 84,826 |
3.88%, 01/15/28 (Call 05/31/24)(c) | USD 145 | 133,551 |
4.00%, 10/15/30 (Call 10/15/25)(c) | USD 275 | 237,531 |
4.38%, 01/15/28 (Call 05/31/24)(c) | USD 70 | 65,012 |
5.75%, 04/15/25 (Call 05/31/24)(c) | USD 40 | 39,750 |
Air Canada | ||
3.88%, 08/15/26 (Call 02/15/26)(c) | USD 100 | 94,793 |
4.63%, 08/15/29 (Call 02/15/26)(c) | CAD 263 | 181,628 |
Alcoa Nederland Holding BV, 5.50%, 12/15/27 (Call 05/31/24)(c) | USD 75 | 73,638 |
AutoCanada Inc., 5.75%, 02/07/29 (Call 02/07/25)(c) | CAD 75 | 49,480 |
Baytex Energy Corp. | ||
7.38%, 03/15/32 (Call 03/15/27)(c) | USD 50 | 50,305 |
8.50%, 04/30/30 (Call 04/30/26)(c) | USD 75 | 78,148 |
Bombardier Inc. | ||
6.00%, 02/15/28 (Call 05/31/24)(c) | USD 75 | 73,083 |
7.13%, 06/15/26 (Call 05/31/24)(c) | USD 30 | 30,272 |
7.25%, 07/01/31 (Call 07/01/27)(c)(d) | USD 20 | 20,049 |
7.50%, 02/01/29 (Call 02/01/26)(c)(d) | USD 60 | 61,237 |
7.88%, 04/15/27 (Call 05/31/24)(c) | USD 144 | 142,921 |
8.75%, 11/15/30 (Call 11/15/26)(c)(d) | USD 75 | 79,544 |
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC | ||
4.88%, 02/15/30 (Call 02/15/25)(c) | USD 50 | 43,262 |
6.25%, 09/15/27 (Call 05/31/24)(c) | USD 57 | 54,817 |
Cineplex Inc., 7.63%, 03/31/29 (Call 01/31/26)(c) | CAD 100 | 73,448 |
Emera Inc., Series 16-A, 6.75%, 06/15/76 (Call 06/15/26), (3-mo. LIBOR US + 5.440%)(b)(d) | USD 135 | 133,422 |
Security | Par (000 ) | Value |
Canada (continued) | ||
Garda World Security Corp. | ||
4.63%, 02/15/27 (Call 05/31/24)(c) | USD 60 | $56,939 |
6.00%, 06/01/29 (Call 06/01/24)(c) | USD 50 | 44,125 |
7.75%, 02/15/28 (Call 02/15/25)(c) | USD 30 | 30,225 |
9.50%, 11/01/27 (Call 05/31/24)(c) | USD 50 | 49,750 |
GFL Environmental Inc. | ||
3.50%, 09/01/28 (Call 03/01/28)(c) | USD �� 60 | 53,883 |
3.75%, 08/01/25 (Call 05/31/24)(c) | USD 80 | 77,736 |
4.00%, 08/01/28 (Call 05/13/24)(c)(d) | USD 75 | 67,808 |
4.25%, 06/01/25 (Call 05/31/24)(c)(d) | USD 50 | 49,237 |
4.38%, 08/15/29 (Call 08/15/24)(c) | USD 55 | 49,569 |
4.75%, 06/15/29 (Call 06/15/24)(c)(d) | USD 75 | 69,027 |
5.13%, 12/15/26 (Call 05/31/24)(c) | USD 54 | 52,534 |
6.75%, 01/15/31 (Call 01/15/27)(c) | USD 95 | 95,712 |
goeasy Ltd., 7.63%, 07/01/29 (Call 07/01/26)(c) | USD 40 | 39,882 |
Husky Injection Molding Systems Ltd./Titan Co-Borrower LLC, 9.00%, 02/15/29 (Call 02/15/26)(c) | USD 85 | 87,163 |
Jones Deslauriers Insurance Management Inc., 8.50%, 03/15/30 (Call 03/15/26)(c) | USD 75 | 76,932 |
Kronos Acquisition Holdings Inc./KIK Custom Products Inc. | ||
5.00%, 12/31/26 (Call 05/31/24)(c) | USD 60 | 57,900 |
7.00%, 12/31/27 (Call 05/31/24)(c) | USD 45 | 43,502 |
Mattamy Group Corp. | ||
4.63%, 03/01/30 (Call 03/01/25)(c) | USD 65 | 58,073 |
5.25%, 12/15/27 (Call 05/31/24)(c) | USD 60 | 57,375 |
Mattr Corp., 7.25%, 04/02/31 (Call 04/02/27)(c) | CAD 40 | 28,954 |
MEG Energy Corp. | ||
5.88%, 02/01/29 (Call 05/13/24)(c) | USD 50 | 48,350 |
7.13%, 02/01/27 (Call 05/31/24)(c)(d) | USD 36 | 36,335 |
Methanex Corp. | ||
5.13%, 10/15/27 (Call 04/15/27) | USD 60 | 57,532 |
5.25%, 12/15/29 (Call 09/15/29) | USD 65 | 61,649 |
NOVA Chemicals Corp. | ||
4.25%, 05/15/29 (Call 05/31/24)(c)(d) | USD 57 | 47,751 |
5.00%, 05/01/25 (Call 01/31/25)(c) | USD 54 | 53,047 |
5.25%, 06/01/27 (Call 03/03/27)(c) | USD 100 | 93,875 |
8.50%, 11/15/28 (Call 11/15/25)(c) | USD 50 | 52,492 |
9.00%, 02/15/30 (Call 08/15/26)(c) | USD 60 | 61,635 |
NuVista Energy Ltd., 7.88%, 07/23/26 (Call 05/10/24)(c) | CAD 50 | 36,884 |
Open Text Corp. | ||
3.88%, 02/15/28 (Call 05/31/24)(c)(d) | USD 90 | 82,187 |
3.88%, 12/01/29 (Call 12/01/24)(c)(d) | USD 80 | 69,897 |
Open Text Holdings Inc. | ||
4.13%, 02/15/30 (Call 02/15/25)(c) | USD 90 | 79,073 |
4.13%, 12/01/31 (Call 12/01/26)(c)(d) | USD 68 | 58,140 |
Parkland Corp. | ||
3.88%, 06/16/26 (Call 05/10/24)(c) | CAD 75 | 52,204 |
4.50%, 10/01/29 (Call 10/01/24)(c) | USD 70 | 63,279 |
4.63%, 05/01/30 (Call 05/01/25)(c) | USD 80 | 72,160 |
5.88%, 07/15/27 (Call 05/31/24)(c) | USD 40 | 39,028 |
Ritchie Bros Holdings Inc. | ||
6.75%, 03/15/28 (Call 03/15/25)(c) | USD 60 | 60,587 |
7.75%, 03/15/31 (Call 03/15/26)(c) | USD 80 | 82,980 |
Rogers Communications Inc., 5.25%, 03/15/82 (Call 03/15/27), (5-year CMT + 3.590%)(b)(c)(d) | USD 75 | 71,062 |
SNC-Lavalin Group Inc., 7.00%, 06/12/26 (Call 06/01/26) | CAD 25 | 18,644 |
Security | Par (000 ) | Value |
Canada (continued) | ||
Superior Plus LP, 4.25%, 05/18/28 (Call 05/30/24)(c) | CAD 50 | $33,891 |
Tamarack Valley Energy Ltd., 7.25%, 05/10/27 (Call 05/30/24)(c) | CAD 75 | 54,099 |
Videotron Ltd. | ||
3.13%, 01/15/31 (Call 01/15/26) | CAD 125 | 78,429 |
3.63%, 06/15/28 (Call 06/15/24)(c) | CAD 100 | 67,404 |
3.63%, 06/15/29 (Call 06/15/24)(c)(d) | USD 50 | 44,375 |
4.50%, 01/15/30 (Call 10/15/24) | CAD 110 | 75,424 |
5.13%, 04/15/27 (Call 05/31/24)(c) | USD 60 | 57,919 |
4,657,375 | ||
China — 0.1% | ||
Swissport Investments SA, 6.75%, 12/15/21(a)(e)(f) | EUR 100 | 1 |
TI Automotive Finance PLC, 3.75%, 04/15/29 (Call 05/30/24)(a) | EUR 100 | 98,048 |
98,049 | ||
Cyprus — 0.1% | ||
Bank of Cyprus PCL, 7.38%, 07/25/28 (Call 07/25/27), (3-mo. EURIBOR + 4.095%)(a)(b) | EUR 100 | 114,111 |
Czech Republic — 0.1% | ||
Allwyn Entertainment Financing U.K. PLC, 7.25%, 04/30/30 (Call 04/30/26)(a) | EUR 100 | 111,017 |
Denmark — 0.2% | ||
Orsted AS | ||
1.50%, (Call 08/18/30), (5-year EUR Swap + 1.860%)(a)(b) | EUR 100 | 83,600 |
2.50%, (Call 08/18/32), (5-year GUK + 2.136%)(a)(b) | GBP 100 | 89,690 |
5.13%, (Call 09/14/29), (5-year EURIBOR ICE Swap + 2.590%)(a)(b) | EUR 100 | 107,217 |
280,507 | ||
Finland — 0.2% | ||
Citycon Treasury BV, 1.63%, 03/12/28 (Call 12/12/27)(a) | EUR 100 | 90,913 |
Huhtamaki Oyj, 4.25%, 06/09/27 (Call 03/09/27)(a) | EUR 100 | 106,565 |
197,478 | ||
France — 5.0% | ||
Adevinta ASA, 2.63%, 11/15/25 (Call 05/10/24)(a) | EUR 100 | 106,625 |
Air France-KLM | ||
7.25%, 05/31/26 (Call 04/30/26)(a) | EUR 100 | 112,697 |
8.13%, 05/31/28 (Call 02/28/28)(a) | EUR 100 | 119,844 |
Altice France SA/France | ||
3.38%, 01/15/28 (Call 05/10/24)(a) | EUR 100 | 70,306 |
4.13%, 01/15/29 (Call 05/30/24)(a) | EUR 100 | 69,784 |
5.13%, 01/15/29 (Call 05/31/24)(c) | USD 45 | 29,363 |
5.13%, 07/15/29 (Call 05/31/24)(c) | USD 250 | 162,500 |
5.50%, 01/15/28 (Call 05/13/24)(c) | USD 100 | 67,540 |
5.50%, 10/15/29 (Call 10/15/24)(c) | USD 200 | 130,750 |
5.88%, 02/01/27 (Call 05/10/24)(a) | EUR 100 | 77,342 |
8.13%, 02/01/27 (Call 05/13/24)(c) | USD 175 | 130,900 |
Atos SE | ||
1.00%, 11/12/29 (Call 08/12/29)(a) | EUR 100 | 20,310 |
2.50%, 11/07/28 (Call 08/07/28)(a) | EUR 100 | 20,168 |
Banijay Entertainment SASU, 7.00%, 05/01/29 (Call 11/01/25)(a) | EUR 100 | 111,789 |
CAB SELAS, 3.38%, 02/01/28 (Call 05/30/24)(a) | EUR 100 | 93,225 |
Cerba Healthcare SACA, 3.50%, 05/31/28 (Call 05/31/24)(a) | EUR 100 | 86,878 |
Security | Par (000 ) | Value |
France (continued) | ||
Chrome Holdco SASU, 5.00%, 05/31/29 (Call 05/31/24)(a) | EUR 100 | $67,840 |
Cie Plastic Omnium SE, 4.88%, 03/13/29 (Call 12/13/28)(a) | EUR 100 | 106,683 |
Electricite de France SA, 9.13%, (Call 03/15/33), (5-year CMT + 5.411%)(b)(c)(g) | USD 150 | 163,038 |
Elior Group SA, 3.75%, 07/15/26 (Call 05/30/24)(a) | EUR 100 | 99,619 |
Elis SA, 1.63%, 04/03/28 (Call 01/03/28)(a) | EUR 100 | 98,003 |
ELO SACA | ||
2.88%, 01/29/26 (Call 10/29/25)(a) | EUR 100 | 102,675 |
6.00%, 03/22/29 (Call 12/22/28)(a) | EUR 100 | 105,568 |
Emeria SASU, 3.38%, 03/31/28 (Call 05/30/24)(a) | EUR 100 | 90,816 |
Eramet SA, 7.00%, 05/22/28 (Call 02/22/28)(a) | EUR 100 | 107,832 |
Eutelsat SA, 1.50%, 10/13/28 (Call 07/13/28)(a) | EUR 100 | 77,852 |
EUTELSAT SA SR UNSECURED REGS 04/29 9.75, 9.75%, 04/13/29 (Call 04/13/26)(a) | EUR 100 | 108,109 |
Forvia SE | ||
2.38%, 06/15/27 (Call 05/10/24)(a) | EUR 100 | 100,618 |
2.63%, 06/15/25 (Call 05/30/24)(a) | EUR 35 | 36,743 |
2.75%, 02/15/27 (Call 05/30/24)(a) | EUR 100 | 101,786 |
3.13%, 06/15/26 (Call 05/30/24)(a) | EUR 100 | 104,069 |
3.75%, 06/15/28 (Call 05/30/24)(a) | EUR 100 | 103,236 |
5.13%, 06/15/29 (Call 06/15/26)(a) | EUR 100 | 107,675 |
5.50%, 06/15/31 (Call 06/15/27)(a) | EUR 100 | 108,447 |
Getlink SE, 3.50%, 10/30/25 (Call 05/30/24)(a) | EUR 100 | 105,734 |
Goldstory SAS, 6.75%, 02/01/30 (Call 02/01/26)(a) | EUR 100 | 108,583 |
Holding d'Infrastructures des Metiers de l'Environnement, Series ., 0.63%, Series ., 09/16/28 (Call 06/16/28)(a) | EUR 100 | 89,288 |
Iliad Holding SASU | ||
5.13%, 10/15/26 (Call 05/10/24)(a) | EUR 100 | 106,546 |
5.63%, 10/15/28 (Call 10/15/24)(a) | EUR 100 | 105,200 |
6.50%, 10/15/26 (Call 05/13/24)(c) | USD 125 | 124,330 |
7.00%, 10/15/28 (Call 10/15/24)(c) | USD 75 | 73,219 |
iliad SA | ||
1.88%, 02/11/28 (Call 11/11/27)(a) | EUR 100 | 96,824 |
2.38%, 06/17/26 (Call 03/17/26)(a) | EUR 100 | 102,485 |
5.38%, 02/15/29 (Call 11/15/28)(a) | EUR 100 | 107,656 |
Series ., 5.38%, Series ., 05/02/31 (Call 02/02/31)(a) | EUR 100 | 106,223 |
IPD 3 BV, 8.00%, 06/15/28 (Call 06/15/25)(a) | EUR 100 | 112,898 |
Kapla Holding SAS, 3.38%, 12/15/26 (Call 05/10/24)(a) | EUR 100 | 103,000 |
La Financiere Atalian SASU, 8.50%, 06/30/28 (Call 05/15/24) | EUR 100 | 69,778 |
Loxam SAS | ||
6.38%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 109,901 |
6.38%, 05/31/29 (Call 12/15/25)(a) | EUR 125 | 137,592 |
Nexans SA, 4.25%, 03/11/30 (Call 12/11/29)(a) | EUR 100 | 107,259 |
Paprec Holding SA, 6.50%, 11/17/27 (Call 11/17/25)(a) | EUR 100 | 112,550 |
Picard Groupe SAS, 3.88%, 07/01/26 (Call 05/30/24)(a) | EUR 100 | 103,686 |
Renault SA | ||
1.13%, 10/04/27 (Call 07/04/27)(a) | EUR 100 | 96,248 |
1.25%, 06/24/25 (Call 03/24/25)(a) | EUR 100 | 102,972 |
2.38%, 05/25/26 (Call 02/25/26)(a) | EUR 200 | 205,515 |
2.50%, 06/02/27 (Call 03/02/27)(a) | EUR 100 | 101,268 |
Rexel SA, 2.13%, 12/15/28 (Call 12/15/24)(a) | EUR 100 | 98,099 |
SNF Group SACA, 2.63%, 02/01/29 (Call 05/10/24)(a) | EUR 100 | 99,022 |
Security | Par (000 ) | Value |
France (continued) | ||
SPIE SA, 2.63%, 06/18/26 (Call 12/18/25)(a) | EUR 100 | $103,698 |
Tereos Finance Groupe I SA, 4.75%, 04/30/27 (Call 05/30/24)(a) | EUR 100 | 106,364 |
Valeo SE | ||
1.50%, 06/18/25 (Call 03/18/25)(a) | EUR 100 | 103,265 |
4.50%, 04/11/30 (Call 01/11/30)(a) | EUR 100 | 104,444 |
5.38%, 05/28/27 (Call 02/28/27)(a) | EUR 100 | 109,289 |
5.88%, 04/12/29 (Call 01/12/29)(a) | EUR 100 | 111,555 |
6,525,121 | ||
Germany — 3.3% | ||
Bayer AG | ||
5.38%, 03/25/82 (Call 06/25/30), (5-year EUR Swap + 4.458%)(a)(b) | EUR 100 | 99,000 |
6.63%, 09/25/83 (Call 09/25/28), (5-year EUR Swap + 3.432%)(a)(b) | EUR 100 | 106,248 |
7.00%, 09/25/83 (Call 09/25/31), (5-year EUR Swap + 3.896%)(a)(b) | EUR 100 | 107,580 |
Series N5.5, 4.50%, Series N5.5, 03/25/82 (Call 06/25/27), (5-year EUR Swap + 3.751%)(a)(b) | EUR 100 | 99,644 |
Bertelsmann SE & Co. KGaA, 3.50%, 04/23/75 (Call 04/23/27), (5-year EUR Swap + 3.206%)(a)(b) | EUR 100 | 103,126 |
Ceconomy AG, 1.75%, 06/24/26 (Call 03/24/26)(a) | EUR 100 | 98,798 |
Cheplapharm Arzneimittel GmbH | ||
4.38%, 01/15/28 (Call 05/30/24)(a) | EUR 100 | 102,529 |
7.50%, 05/15/30 (Call 05/15/26)(a) | EUR 100 | 111,757 |
Commerzbank AG | ||
4.00%, 03/23/26(a) | EUR 100 | 106,368 |
4.00%, 03/30/27(a) | EUR 70 | 74,869 |
4.00%, 12/05/30 (Call 09/05/25), (5-year EUR Swap + 4.350%)(a)(b) | EUR 100 | 105,401 |
4.88%, 10/16/34 (Call 07/16/29), (5-year EURIBOR ICE Swap + 2.150%)(a)(b) | EUR 100 | 105,130 |
8.63%, 02/28/33 (Call 11/28/27), (5-year GUK + 5.251%)(a)(b) | GBP 100 | 131,326 |
Evonik Industries AG, 1.38%, 09/02/81 (Call 09/02/26), (5-year EUR Swap + 1.836%)(a)(b) | EUR 100 | 97,433 |
Gruenenthal GmbH, 6.75%, 05/15/30 (Call 05/15/26)(a) | EUR 100 | 112,070 |
IHO Verwaltungs GmbH | ||
3.75%, 09/15/26 (Call 05/10/24), (4.50% PIK)(a)(h) | EUR 100 | 104,603 |
3.88%, 05/15/27 (Call 05/30/24), (4.62% PIK)(a)(h) | EUR 100 | 103,691 |
Mahle GmbH, 2.38%, 05/14/28 (Call 02/14/28)(a) | EUR 100 | 93,776 |
Mercer International Inc., 5.13%, 02/01/29 (Call 05/13/24)(d) | USD 85 | 74,375 |
Nidda Healthcare Holding GmbH, 7.50%, 08/21/26 (Call 05/10/24)(a) | EUR 100 | 109,854 |
PCF GmbH, 4.75%, 04/15/26 (Call 05/10/24)(a) | EUR 100 | 71,978 |
Schaeffler AG | ||
2.88%, 03/26/27 (Call 12/26/26)(a) | EUR 75 | 77,573 |
3.38%, 10/12/28 (Call 07/12/28)(a) | EUR 100 | 102,794 |
4.50%, 03/28/30 (Call 12/28/29)(a) | EUR 100 | 105,887 |
4.75%, 08/14/29 (Call 05/14/29)(a) | EUR 100 | 107,900 |
Tele Columbus AG, 10.00%, 03/19/29 (Call 05/10/24), (10.00% PIK)(a)(h) | EUR 101 | 67,600 |
TK Elevator Holdco GmbH | ||
6.63%, 07/15/28 (Call 05/30/24)(a) | EUR 90 | 91,279 |
Security | Par (000 ) | Value |
Germany (continued) | ||
7.63%, 07/15/28 (Call 05/31/24)(c) | USD 50 | $49,000 |
TK Elevator U.S. Newco Inc., 5.25%, 07/15/27 (Call 05/31/24)(c) | USD 150 | 143,485 |
TUI AG, 5.88%, 03/15/29 (Call 02/28/26)(a) | EUR 100 | 107,769 |
TUI Cruises GmbH | ||
6.25%, 04/15/29 (Call 04/15/26)(a) | EUR 100 | 107,425 |
6.50%, 05/15/26 (Call 05/10/24)(a) | EUR 100 | 107,796 |
WEPA Hygieneprodukte GmbH, 5.63%, 01/15/31 (Call 01/15/27)(a) | EUR 100 | 106,578 |
ZF Europe Finance BV | ||
2.00%, 02/23/26 (Call 12/23/25)(a) | EUR 100 | 101,784 |
2.50%, 10/23/27 (Call 07/23/27)(a) | EUR 100 | 99,247 |
3.00%, 10/23/29 (Call 07/23/29)(a) | EUR 100 | 97,735 |
4.75%, 01/31/29 (Call 10/31/28)(a) | EUR 100 | 106,355 |
ZF Finance GmbH | ||
2.00%, 05/06/27 (Call 02/06/27)(a) | EUR 100 | 98,857 |
2.75%, 05/25/27 (Call 02/25/27)(a) | EUR 100 | 100,951 |
5.75%, 08/03/26 (Call 07/03/26)(a) | EUR 100 | 109,509 |
ZF North America Capital Inc. | ||
6.75%, 04/23/30 (Call 03/23/30)(c) | USD 150 | 150,258 |
6.88%, 04/14/28 (Call 03/14/28)(c) | USD 75 | 75,563 |
7.13%, 04/14/30 (Call 02/14/30)(c) | USD 75 | 76,594 |
4,311,495 | ||
Greece — 1.1% | ||
Alpha Bank SA | ||
2.50%, 03/23/28 (Call 03/23/27), (1-year EUR Swap + 2.849%)(a)(b) | EUR 100 | 100,225 |
7.50%, 06/16/27 (Call 06/16/26), (1-year EUR Swap + 5.084%)(a)(b) | EUR 100 | 112,866 |
Alpha Services and Holdings SA, 5.50%, 06/11/31 (Call 03/11/26), (5-year EUR Swap + 5.823%)(a)(b) | EUR 100 | 104,922 |
Eurobank Ergasias Services & Holdings SA, 10.00%, 12/06/32 (Call 12/06/27), (5-year EUR Swap + 7.588%)(a)(b) | EUR 100 | 120,824 |
Eurobank SA | ||
5.88%, 11/28/29 (Call 11/28/28), (1-year EUR Swap + 2.830%)(a)(b) | EUR 100 | 111,617 |
7.00%, 01/26/29 (Call 01/26/28), (1-year EUR Swap + 4.418%)(a)(b) | EUR 100 | 115,612 |
National Bank of Greece SA | ||
4.50%, 01/29/29 (Call 01/29/28), (6-mo. EURIBOR + 1.812%)(a)(b) | EUR 100 | 106,110 |
5.88%, 06/28/35 (Call 03/28/30), (5-year EURIBOR ICE Swap + 3.154%)(a)(b) | EUR 100 | 106,831 |
8.00%, 01/03/34 (Call 10/03/28), (5-year EURIBOR ICE Swap + 4.646%)(a)(b) | EUR 100 | 115,950 |
Piraeus Bank SA | ||
5.00%, 04/16/30 (Call 04/16/29), (1-year EURIBOR ICE Swap + 2.245%)(a)(b) | EUR 100 | 106,320 |
6.75%, 12/05/29 (Call 12/05/28), (1-year EUR Swap + 2.837%)(a)(b) | EUR 100 | 114,147 |
8.25%, 01/28/27 (Call 01/28/26), (1-year EUR Swap + 5.715%)(a)(b) | EUR 100 | 113,532 |
Public Power Corp. SA, 4.38%, 03/30/26 (Call 05/30/24)(a) | EUR 100 | 106,475 |
1,435,431 | ||
Hong Kong — 0.3% | ||
Melco Resorts Finance Ltd. | ||
4.88%, 06/06/25 (Call 05/31/24)(c) | USD 70 | 68,119 |
Security | Par (000 ) | Value |
Hong Kong (continued) | ||
5.25%, 04/26/26 (Call 05/31/24)(c) | USD 50 | $48,000 |
5.38%, 12/04/29 (Call 12/04/24)(c) | USD 125 | 111,605 |
5.63%, 07/17/27 (Call 05/31/24)(c) | USD 50 | 47,205 |
5.75%, 07/21/28 (Call 05/31/24)(c) | USD 75 | 69,638 |
344,567 | ||
Ireland — 0.5% | ||
AerCap Global Aviation Trust, 6.50%, 06/15/45 (Call 06/15/25), (3-mo. SOFR + 4.562%)(b)(c) | USD 50 | 49,693 |
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 5.25%, 08/15/27 (Call 05/31/24)(c) | USD 75 | 38,241 |
C&W Senior Finance Ltd., 6.88%, 09/15/27 (Call 05/13/24)(c) | USD 135 | 127,464 |
eircom Finance DAC, 3.50%, 05/15/26 (Call 05/30/24)(a) | EUR 125 | 129,015 |
Energia Group Roi Financeco DAC, 6.88%, 07/31/28 (Call 07/31/25)(a) | EUR 100 | 110,269 |
GGAM Finance Ltd. | ||
6.88%, 04/15/29 (Call 04/15/26)(c) | USD 45 | 45,000 |
7.75%, 05/15/26 (Call 11/15/25)(c) | USD 25 | 25,397 |
8.00%, 02/15/27 (Call 08/15/26)(c) | USD 70 | 71,648 |
8.00%, 06/15/28 (Call 12/15/27)(c) | USD 70 | 72,054 |
668,781 | ||
Israel — 1.2% | ||
Energian Israel Finance Ltd. | ||
4.88%, 03/30/26 (Call 12/30/25)(a)(c) | USD 75 | 70,568 |
5.38%, 03/30/28 (Call 09/30/27)(a)(c) | USD 56 | 49,656 |
5.88%, 03/30/31 (Call 09/30/30)(a)(c) | USD 70 | 59,715 |
8.50%, 09/30/33 (Call 09/30/29)(a)(c) | USD 65 | 62,816 |
Leviathan Bond Ltd. | ||
6.13%, 06/30/25 (Call 03/30/25)(a)(c) | USD 55 | 53,609 |
6.50%, 06/30/27 (Call 12/30/26)(a)(c) | USD 55 | 51,585 |
6.75%, 06/30/30 (Call 12/30/29)(a)(c) | USD 60 | 53,625 |
Teva Pharmaceutical Finance Netherlands II BV | ||
3.75%, 05/09/27 (Call 02/09/27) | EUR 100 | 103,657 |
4.38%, 05/09/30 (Call 02/09/30) | EUR 150 | 152,863 |
7.38%, 09/15/29 (Call 06/15/29) | EUR 100 | 117,662 |
7.88%, 09/15/31 (Call 06/15/31) | EUR 100 | 122,438 |
Teva Pharmaceutical Finance Netherlands III BV | ||
3.15%, 10/01/26(d) | USD 310 | 287,277 |
4.75%, 05/09/27 (Call 02/09/27) | USD 100 | 95,635 |
5.13%, 05/09/29 (Call 02/09/29) | USD 100 | 94,905 |
6.75%, 03/01/28 (Call 12/01/27) | USD 125 | 126,802 |
7.88%, 09/15/29 (Call 06/15/29) | USD 50 | 52,613 |
8.13%, 09/15/31 (Call 06/15/31) | USD 50 | 53,878 |
1,609,304 | ||
Italy — 3.8% | ||
Banca IFIS SpA, 6.13%, 01/19/27(a) | EUR 100 | 110,133 |
Banca Monte dei Paschi di Siena SpA | ||
2.63%, 04/28/25(a) | EUR 100 | 104,352 |
4.75%, 03/15/29 (Call 03/15/28), (3-mo. EURIBOR + 2.047%)(a)(b) | EUR 100 | 107,235 |
10.50%, 07/23/29(a) | EUR 100 | 125,795 |
Banco BPM SpA | ||
3.25%, 01/14/31 (Call 01/14/26), (5-year EUR Swap + 3.800%)(a)(b) | EUR 100 | 103,185 |
5.00%, 09/14/30 (Call 09/14/25), (5-year EUR Swap + 5.419%)(a)(b) | EUR 100 | 106,555 |
BPER Banca SpA | ||
5.75%, 09/11/29 (Call 09/11/28), (3-mo. EURIBOR + 2.600%)(a)(b) | EUR 150 | 167,606 |
Security | Par (000 ) | Value |
Italy (continued) | ||
6.13%, 02/01/28 (Call 02/01/27), (3-mo. EURIBOR + 3.600%)(a)(b) | EUR 150 | $168,424 |
Cerved Group SpA, 6.00%, 02/15/29 (Call 03/15/25)(a) | EUR 100 | 98,961 |
doValue SpA, 3.38%, 07/31/26 (Call 05/10/24)(a) | EUR 100 | 93,626 |
Engineering - Ingegneria Informatica - SpA, 5.88%, 09/30/26 (Call 05/15/24)(a) | EUR 100 | 102,344 |
Guala Closures SpA, 3.25%, 06/15/28 (Call 06/15/24)(a) | EUR 100 | 99,234 |
Iccrea Banca SpA, 4.75%, 01/18/32 (Call 10/18/26), (5-year EURIBOR ICE Swap + 4.829%)(a)(b) | EUR 100 | 104,559 |
IMA Industria Macchine Automatiche SpA, 3.75%, 01/15/28 (Call 05/10/24)(a) | EUR 100 | 99,978 |
Infrastrutture Wireless Italiane SpA | ||
1.75%, 04/19/31 (Call 01/19/31)(a) | EUR 100 | 94,079 |
1.88%, 07/08/26 (Call 04/08/26)(a) | EUR 100 | 102,277 |
International Design Group SpA, 10.00%, 11/15/28 (Call 11/15/25)(a) | EUR 100 | 108,860 |
Intesa Sanpaolo SpA | ||
2.86%, 04/23/25(a) | EUR 100 | 105,249 |
2.93%, 10/14/30(a) | EUR 100 | 96,985 |
3.93%, 09/15/26(a) | EUR 100 | 106,143 |
4.20%, 06/01/32 (Call 06/01/31), (1-year CMT + 2.600%)(b)(c) | USD 60 | 49,146 |
5.15%, 06/10/30(a) | GBP 100 | 114,364 |
5.71%, 01/15/26(c) | USD 150 | 147,782 |
Lottomatica SpA, 9.75%, 09/30/27 (Call 09/30/24)(a) | EUR 100 | 113,380 |
Mundys SpA | ||
1.88%, 07/13/27 (Call 04/13/27)(a) | EUR 100 | 99,713 |
1.88%, 02/12/28 (Call 11/12/27)(a) | EUR 100 | 98,003 |
4.75%, 01/24/29 (Call 10/24/28)(a) | EUR 100 | 108,509 |
Nexi SpA | ||
1.63%, 04/30/26 (Call 01/30/26)(a) | EUR 100 | 101,317 |
2.13%, 04/30/29 (Call 01/30/29)(a) | EUR 100 | 95,184 |
Rossini Sarl, 6.75%, 10/30/25 (Call 05/10/24)(a) | EUR 100 | 106,418 |
Saipem Finance International BV, 3.13%, 03/31/28 (Call 12/31/27)(a) | EUR 100 | 103,179 |
Telecom Italia SpA | ||
6.88%, 02/15/28 (Call 11/15/27)(a) | EUR 100 | 111,476 |
7.88%, 07/31/28 (Call 05/01/28)(a) | EUR 200 | 231,471 |
Telecom Italia SpA/Milano | ||
1.63%, 01/18/29 (Call 10/18/28)(a) | EUR 100 | 90,728 |
2.38%, 10/12/27 (Call 07/12/27)(a) | EUR 100 | 97,728 |
2.75%, 04/15/25 (Call 01/15/25)(a) | EUR 100 | 104,599 |
3.00%, 09/30/25(a) | EUR 100 | 104,237 |
3.63%, 05/25/26(a) | EUR 100 | 103,978 |
UniCredit SpA | ||
2.73%, 01/15/32 (Call 01/15/27), (5-year EUR Swap + 2.800%)(a)(b) | EUR 200 | 201,477 |
5.46%, 06/30/35 (Call 06/30/30), (5-year CMT + 4.750%)(b)(c) | USD 135 | 124,033 |
5.86%, 06/19/32 (Call 06/19/27), (5-year USD ICE Swap + 3.703%)(b)(c) | USD 110 | 106,009 |
7.30%, 04/02/34 (Call 04/02/29), (5-year USD ICE Swap + 4.914%)(b)(c) | USD 125 | 126,166 |
Webuild SpA | ||
5.88%, 12/15/25 (Call 06/15/25)(a) | EUR 100 | 107,983 |
7.00%, 09/27/28 (Call 03/27/28)(a) | EUR 100 | 114,391 |
4,966,851 |
Security | Par (000 ) | Value |
Japan — 0.6% | ||
Rakuten Group Inc. | ||
5.13%, (Call 04/22/26), (5-year CMT + 4.578%)(b)(c)(g) | USD 70 | $58,288 |
6.25%, (Call 04/22/31), (5-year CMT + 4.956%)(b)(c)(g) | USD 110 | 79,438 |
11.25%, 02/15/27(c) | USD 150 | 155,933 |
SoftBank Group Corp. | ||
2.88%, 01/06/27 (Call 10/06/26)(a) | EUR 100 | 100,563 |
3.13%, 09/19/25 (Call 06/21/25)(a) | EUR 150 | 156,043 |
4.00%, 09/19/29 (Call 06/21/29)(a) | EUR 125 | 123,731 |
5.00%, 04/15/28 (Call 01/16/28)(a) | EUR 100 | 105,630 |
779,626 | ||
Jersey — 0.1% | ||
Aston Martin Capital Holdings Ltd., 10.38%, 03/31/29 (Call 03/15/26)(a) | GBP 100 | 124,615 |
Luxembourg — 1.4% | ||
Albion Financing 1 SARL/Aggreko Holdings Inc., 6.13%, 10/15/26 (Call 05/31/24)(c) | USD 40 | 39,218 |
Albion Financing 2 SARL, 8.75%, 04/15/27 (Call 05/31/24)(c) | USD 50 | 50,242 |
Altice Financing SA | ||
4.25%, 08/15/29 (Call 08/15/24)(a) | EUR 100 | 83,871 |
5.00%, 01/15/28 (Call 05/31/24)(c) | USD 100 | 78,750 |
5.75%, 08/15/29 (Call 08/15/24)(c) | USD 200 | 148,250 |
Altice Finco SA, 4.75%, 01/15/28 (Call 05/30/24)(a) | EUR 100 | 70,120 |
Altice France Holding SA | ||
4.00%, 02/15/28 (Call 05/30/24)(a) | EUR 100 | 25,864 |
6.00%, 02/15/28 (Call 05/31/24)(c) | USD 100 | 28,586 |
8.00%, 05/15/27(a) | EUR 100 | 32,116 |
10.50%, 05/15/27 (Call 05/13/24)(c) | USD 150 | 52,875 |
ARD Finance SA, 5.00%, 06/30/27 (Call 05/10/24), (5.00% Cash and 5.75% PIK)(a)(h) | EUR 100 | 23,217 |
Cidron Aida Finco Sarl, 5.00%, 04/01/28 (Call 05/30/24)(a) | EUR 100 | 101,000 |
Garfunkelux Holdco 3 SA, 6.75%, 11/01/25 (Call 05/30/24)(a) | EUR 100 | 74,443 |
Herens Midco Sarl, 5.25%, 05/15/29 (Call 05/30/24)(a) | EUR 100 | 75,450 |
INEOS Finance PLC | ||
6.63%, 05/15/28 (Call 02/15/25)(a) | EUR 200 | 217,337 |
7.50%, 04/15/29 (Call 04/15/26)(c) | USD 75 | 75,329 |
Intelsat Jackson Holdings SA, 6.50%, 03/15/30 (Call 03/15/25)(c) | USD 290 | 277,675 |
Kleopatra Holdings 2 SCA, 6.50%, 09/01/26 (Call 05/30/24)(a) | EUR 100 | 49,330 |
Loarre Investments Sarl, 6.50%, 05/15/29 (Call 05/15/25)(a) | EUR 100 | 107,375 |
Matterhorn Telecom SA, 4.00%, 11/15/27 (Call 05/30/24)(a) | EUR 100 | 105,609 |
Summer BC Holdco B Sarl, 5.75%, 10/31/26 (Call 05/30/24)(a) | EUR 100 | 104,443 |
1,821,100 | ||
Macau — 0.5% | ||
MGM China Holdings Ltd. | ||
4.75%, 02/01/27 (Call 05/13/24)(c) | USD 75 | 70,755 |
5.25%, 06/18/25 (Call 05/13/24)(c) | USD 35 | 34,423 |
5.88%, 05/15/26 (Call 05/13/24)(c) | USD 75 | 73,638 |
Security | Par (000 ) | Value |
Macau (continued) | ||
Studio City Finance Ltd. | ||
5.00%, 01/15/29 (Call 05/31/24)(c) | USD 95 | $81,339 |
6.50%, 01/15/28 (Call 05/31/24)(c) | USD 60 | 56,066 |
Wynn Macau Ltd. | ||
5.13%, 12/15/29 (Call 12/15/24)(c) | USD 100 | 87,951 |
5.50%, 01/15/26 (Call 05/31/24)(c) | USD 75 | 72,755 |
5.50%, 10/01/27 (Call 05/31/24)(c) | USD 75 | 70,520 |
5.63%, 08/26/28 (Call 05/13/24)(c) | USD 150 | 138,338 |
685,785 | ||
Netherlands — 1.6% | ||
Boost Newco Borrower LLC / GTCR W Dutch Finance Sub BV, 8.50%, 01/15/31 (Call 01/15/27)(a) | GBP 100 | 132,990 |
Maxeda DIY Holding BV, 5.88%, 10/01/26 (Call 05/10/24)(a) | EUR 100 | 83,305 |
Nobian Finance BV, 3.63%, 07/15/26 (Call 05/30/24)(a) | EUR 100 | 103,147 |
PPF Telecom Group BV, 3.25%, 09/29/27 (Call 06/29/27)(a) | EUR 175 | 180,972 |
Q-Park Holding I BV, 2.00%, 03/01/27 (Call 05/30/24)(a) | EUR 150 | 147,307 |
Sigma Holdco BV, 5.75%, 05/15/26 (Call 05/10/24)(a) | EUR 100 | 99,412 |
Sunrise FinCo I BV, 4.88%, 07/15/31 (Call 07/15/26)(c) | USD 150 | 130,785 |
TMNL Holding BV, 3.75%, 01/15/29 (Call 01/15/25)(a) | EUR 100 | 99,722 |
Trivium Packaging Finance BV | ||
3.75%, 08/15/26 (Call 05/30/24)(a) | EUR 100 | 103,943 |
5.50%, 08/15/26 (Call 05/31/24)(c) | USD 75 | 73,611 |
8.50%, 08/15/27 (Call 05/13/24)(c) | USD 75 | 74,222 |
UPCB Finance VII Ltd., 3.63%, 06/15/29 (Call 05/10/24)(a) | EUR 100 | 99,447 |
Versuni Group BV, 3.13%, 06/15/28 (Call 06/15/24)(a) | EUR 100 | 95,341 |
VZ Secured Financing BV, 5.00%, 01/15/32 (Call 01/15/27)(c) | USD 150 | 126,563 |
VZ Vendor Financing II BV, 2.88%, 01/15/29 (Call 05/10/24)(a) | EUR 100 | 91,886 |
Ziggo Bond Co. BV | ||
3.38%, 02/28/30 (Call 02/15/25)(a) | EUR 100 | 89,618 |
5.13%, 02/28/30 (Call 02/15/25)(c) | USD 50 | 41,429 |
6.00%, 01/15/27 (Call 05/31/24)(c)(d) | USD 75 | 73,607 |
Ziggo BV | ||
2.88%, 01/15/30 (Call 10/15/24)(a) | EUR 100 | 93,985 |
4.88%, 01/15/30 (Call 10/15/24)(c) | USD 85 | 74,410 |
2,015,702 | ||
Norway — 0.1% | ||
Var Energi ASA, 7.86%, 11/15/83 (Call 11/15/28), (5-year EURIBOR ICE Swap + 4.765%)(a)(b) | EUR 100 | 114,158 |
Portugal — 0.4% | ||
Caixa Central de Credito Agricola Mutuo CRL, 2.50%, 11/05/26 (Call 11/05/25), (3-mo. EURIBOR + 2.600%)(a)(b) | EUR 100 | 102,258 |
EDP - Energias de Portugal SA | ||
1.50%, 03/14/82 (Call 12/14/26), (5-year EUR Swap + 1.888%)(a)(b) | EUR 100 | 97,056 |
1.88%, 08/02/81 (Call 05/02/26), (5-year EUR Swap + 2.380%)(a)(b) | EUR 100 | 100,311 |
Security | Par (000 ) | Value |
Portugal (continued) | ||
5.94%, 04/23/83 (Call 01/23/28), (5-year EUR Swap + 3.184%)(a)(b) | EUR 100 | $111,109 |
Novo Banco SA, 9.88%, 12/01/33 (Call 06/01/28), (5-year EUR Swap + 6.714%)(a)(b) | EUR 100 | 121,533 |
532,267 | ||
Slovenia — 0.2% | ||
United Group BV | ||
3.63%, 02/15/28 (Call 05/30/24)(a) | EUR 100 | 99,591 |
4.63%, 08/15/28 (Call 08/15/24)(a) | EUR 100 | 101,774 |
6.75%, 02/15/31 (Call 02/05/27)(a) | EUR 100 | 109,292 |
310,657 | ||
Spain — 1.6% | ||
ACS Actividades de Construccion y Servicios SA, 1.38%, 06/17/25 (Call 03/17/25)(a) | EUR 100 | 103,438 |
Banco de Credito Social Cooperativo SA | ||
7.50%, 09/14/29 (Call 09/14/28), (1-year EURIBOR ICE Swap + 4.269%)(a)(b) | EUR 100 | 117,159 |
8.00%, 09/22/26 (Call 09/22/25), (1-year EUR Swap + 5.619%)(a)(b) | EUR 100 | 111,750 |
Banco de Sabadell SA | ||
5.13%, 06/27/34 (Call 03/27/29), (5-year EURIBOR ICE Swap + 2.400%)(a)(b) | EUR 100 | 106,451 |
6.00%, 08/16/33 (Call 05/16/28), (5-year EUR Swap + 3.150%)(a)(b) | EUR 100 | 110,224 |
Cirsa Finance International Sarl | ||
7.88%, 07/31/28 (Call 07/19/25)(a) | EUR 100 | 112,474 |
10.38%, 11/30/27 (Call 11/09/24)(a) | EUR 90 | 103,115 |
ContourGlobal Power Holdings SA, 2.75%, 01/01/26 (Call 05/30/24)(a) | EUR 100 | 101,679 |
eDreams ODIGEO SA, 5.50%, 07/15/27 (Call 05/30/24)(a) | EUR 100 | 105,652 |
Eroski S Coop, 10.63%, 04/30/29 (Call 11/30/25)(a) | EUR 100 | 114,110 |
Grifols SA | ||
1.63%, 02/15/25 (Call 05/30/24)(a) | EUR 100 | 104,014 |
3.20%, 05/01/25 (Call 05/24/24)(a) | EUR 100 | 106,048 |
3.88%, 10/15/28 (Call 10/15/24)(a) | EUR 125 | 105,268 |
Grupo-Antolin Irausa SA, 3.38%, 04/30/26 (Call 05/10/24)(a) | EUR 100 | 98,569 |
Ibercaja Banco SA, 2.75%, 07/23/30 (Call 07/23/25), (5-year EUR Swap + 2.882%)(a)(b) | EUR 100 | 102,522 |
Kaixo Bondco Telecom SA, 5.13%, 09/30/29 (Call 09/30/24)(a) | EUR 100 | 102,082 |
Lorca Telecom Bondco SA, 4.00%, 09/18/27 (Call 05/14/24)(a) | EUR 150 | 155,841 |
Unicaja Banco SA, 6.50%, 09/11/28 (Call 09/11/27), (1-year EUR Swap + 3.250%)(a)(b) | EUR 100 | 112,235 |
Via Celere Desarrollos Inmobiliarios SA, 5.25%, 04/01/26 (Call 05/30/24)(a) | EUR 100 | 104,629 |
2,077,260 | ||
Sweden — 1.0% | ||
Dometic Group AB, 2.00%, 09/29/28 (Call 06/29/28)(a) | EUR 100 | 94,358 |
Heimstaden AB, 4.25%, 03/09/26 (Call 12/09/25)(a) | EUR 100 | 71,285 |
Intrum AB | ||
3.00%, 09/15/27 (Call 05/10/24)(a) | EUR 100 | 64,938 |
3.50%, 07/15/26 (Call 05/10/24)(a) | EUR 100 | 68,703 |
Security | Par (000 ) | Value |
Sweden (continued) | ||
4.88%, 08/15/25 (Call 05/10/24)(a) | EUR 100 | $87,115 |
Samhallsbyggnadsbolaget i Norden AB | ||
2.25%, 08/12/27 (Call 05/12/27)(a) | EUR 100 | 71,244 |
2.38%, 09/04/26 (Call 06/04/26)(a) | EUR 100 | 80,284 |
SBB Treasury OYJ, 1.13%, 11/26/29 (Call 08/26/29)(a) | EUR 125 | 79,832 |
Stena International SA | ||
7.25%, 01/15/31 (Call 01/15/27)(c) | USD 50 | 50,000 |
7.63%, 02/15/31 (Call 02/15/27)(c) | USD 25 | 25,246 |
Verisure Holding AB | ||
3.25%, 02/15/27 (Call 05/10/24)(a) | EUR 100 | 102,292 |
3.88%, 07/15/26 (Call 05/10/24)(a) | EUR 100 | 105,463 |
7.13%, 02/01/28 (Call 02/01/25)(a) | EUR 100 | 111,146 |
Verisure Midholding AB, 5.25%, 02/15/29 (Call 05/10/24)(a) | EUR 100 | 102,636 |
Volvo Car AB | ||
2.50%, 10/07/27 (Call 07/07/27)(a) | EUR 100 | 100,685 |
4.75%, 05/08/30(a) | EUR 100 | 106,720 |
1,321,947 | ||
Switzerland — 0.4% | ||
Dufry One BV | ||
2.00%, 02/15/27 (Call 05/30/24)(a) | EUR 100 | 100,484 |
4.75%, 04/18/31 (Call 04/18/27)(a) | EUR 100 | 107,334 |
SIG Combibloc PurchaseCo SARL, 2.13%, 06/18/25 (Call 03/18/25)(a) | EUR 100 | 104,186 |
VistaJet Malta Finance PLC/Vista Management Holding Inc. | ||
6.38%, 02/01/30 (Call 02/01/25)(c)(d) | USD 95 | 73,625 |
7.88%, 05/01/27 (Call 05/31/24)(c)(d) | USD 60 | 53,211 |
9.50%, 06/01/28 (Call 06/01/25)(c) | USD 50 | 44,675 |
483,515 | ||
United Kingdom — 5.5% | ||
888 Acquisitions Ltd., 7.56%, 07/15/27 (Call 07/15/24)(a) | EUR 100 | 102,825 |
Ardonagh Finco Ltd. | ||
6.88%, 02/15/31 (Call 02/15/27)(a) | EUR 125 | 128,535 |
7.75%, 02/15/31 (Call 02/15/27)(c) | USD 75 | 73,828 |
Ardonagh Group Finance Ltd., 8.88%, 02/15/32 (Call 02/15/27)(c) | USD 100 | 97,375 |
B&M European Value Retail SA, 8.13%, 11/15/30 (Call 11/15/26)(a) | GBP 100 | 132,850 |
BCP V Modular Services Finance II PLC, 4.75%, 11/30/28 (Call 11/30/24)(a) | EUR 150 | 150,419 |
Bellis Acquisition Co. PLC, 3.25%, 02/16/26 (Call 05/30/24)(a) | GBP 175 | 214,766 |
Bellis Finco PLC, 4.00%, 02/16/27 (Call 05/30/24)(a) | GBP 100 | 115,458 |
British Telecommunications PLC | ||
1.87%, 08/18/80 (Call 05/18/25), (5-year EUR Swap + 2.130%)(a)(b) | EUR 100 | 102,708 |
4.25%, 11/23/81 (Call 11/23/26), (5-year CMT + 2.985%)(b)(c) | USD 50 | 47,054 |
4.88%, 11/23/81 (Call 08/23/31), (5-year CMT + 3.493%)(b)(c) | USD 45 | 40,114 |
Canary Wharf Group Investment Holdings PLC, 2.63%, 04/23/25 (Call 03/23/25)(a) | GBP 100 | 116,496 |
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 05/13/24)(c) | USD 200 | 193,896 |
Constellation Automotive Financing PLC, 4.88%, 07/15/27 (Call 05/30/24)(a) | GBP 100 | 102,346 |
Security | Par (000 ) | Value |
United Kingdom (continued) | ||
Deuce Finco PLC, 5.50%, 06/15/27 (Call 05/30/24)(a) | GBP 100 | $117,840 |
eG Global Finance PLC, 12.00%, 11/30/28 (Call 05/30/26)(c) | USD 200 | 206,251 |
Global Auto Holdings Ltd./AAG FH U.K. Ltd., 8.38%, 01/15/29 (Call 01/15/26)(c) | USD 200 | 190,112 |
Heathrow Finance PLC, 3.88%, 03/01/27(a)(i) | GBP 100 | 116,591 |
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC | ||
7.25%, 02/15/31 (Call 02/15/27)(c) | USD 80 | 78,900 |
8.13%, 02/15/32 (Call 02/15/27)(c) | USD 40 | 39,404 |
Iceland Bondco PLC, 10.88%, 12/15/27 (Call 08/15/25)(a) | GBP 100 | 127,918 |
INEOS Quattro Finance 1 PLC, 3.75%, 07/15/26 (Call 05/10/24)(a) | EUR 100 | 103,135 |
INEOS Quattro Finance 2 PLC | ||
2.50%, 01/15/26 (Call 05/10/24)(a) | EUR 100 | 103,015 |
Series APR, 8.50%, Series APR, 03/15/29 (Call 11/15/25)(a) | EUR 100 | 111,285 |
International Consolidated Airlines Group SA | ||
1.50%, 07/04/27 (Call 04/04/27)(a) | EUR 100 | 98,662 |
3.75%, 03/25/29 (Call 12/25/28)(a) | EUR 100 | 104,311 |
Jaguar Land Rover Automotive PLC | ||
4.50%, 01/15/26 (Call 10/15/25)(a) | EUR 100 | 106,606 |
4.50%, 10/01/27 (Call 07/01/27)(c) | USD 50 | 46,416 |
5.88%, 01/15/28 (Call 05/31/24)(c) | USD 80 | 77,436 |
7.75%, 10/15/25 (Call 05/13/24)(c) | USD 60 | 60,195 |
Kier Group PLC, 9.00%, 02/15/29 (Call 02/15/26)(a) | GBP 100 | 127,505 |
Macquarie Airfinance Holdings Ltd. | ||
8.13%, 03/30/29 (Call 09/30/25)(c) | USD 50 | 52,277 |
8.38%, 05/01/28 (Call 05/01/25)(c) | USD 50 | 52,481 |
Market Bidco Finco PLC, 5.50%, 11/04/27 (Call 11/04/24)(a) | GBP 100 | 112,306 |
Merlin Entertainments Group U.S. Holdings Inc., 7.38%, 02/15/31 (Call 02/15/27)(c) | USD 50 | 50,168 |
Motion Finco Sarl, 7.38%, 06/15/30 (Call 06/15/26)(a) | EUR 100 | 110,686 |
NGG Finance PLC | ||
2.13%, 09/05/82 (Call 06/05/27)(a)(b) | EUR 100 | 97,330 |
5.63%, 06/18/73 (Call 06/18/25), (12-year GBP Swap + 3.480%)(a)(b) | GBP 100 | 123,327 |
Nomad Foods Bondco PLC, 2.50%, 06/24/28 (Call 06/24/24)(a) | EUR 100 | 98,664 |
Ocado Group PLC, 3.88%, 10/08/26 (Call 05/30/24)(a) | GBP 100 | 108,705 |
Odeon Finco PLC, 12.75%, 11/01/27 (Call 11/01/24)(c) | USD 25 | 25,705 |
PeopleCert Wisdom Issuer PLC, 5.75%, 09/15/26 (Call 05/30/24)(a) | EUR 100 | 106,254 |
Pinnacle Bidco PLC, 10.00%, 10/11/28 (Call 10/11/25)(a) | GBP 100 | 129,766 |
Playtech PLC, 5.88%, 06/28/28 (Call 06/28/25)(a) | EUR 100 | 105,337 |
Punch Finance PLC, 6.13%, 06/30/26 (Call 06/30/24)(a) | GBP 100 | 119,546 |
Sherwood Financing PLC, 4.50%, 11/15/26 (Call 05/30/24)(a) | EUR 100 | 93,213 |
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 07/31/25 (Call 05/30/24)(a) | GBP 100 | 119,674 |
TalkTalk Telecom Group Ltd., 3.88%, 02/20/25 (Call 05/10/24)(a) | GBP 100 | 112,845 |
Security | Par (000 ) | Value |
United Kingdom (continued) | ||
Thames Water Utilities Finance PLC, 2.88%, 05/03/27(a) | GBP 100 | $77,725 |
Very Group Funding PLC (The), 6.50%, 08/01/26 (Call 05/10/24)(a) | GBP 100 | 103,517 |
Victoria PLC, 3.63%, 08/24/26 (Call 05/10/24)(a) | EUR 100 | 86,929 |
Virgin Media Finance PLC, 5.00%, 07/15/30 (Call 07/15/25)(c) | USD 75 | 61,219 |
Virgin Media Secured Finance PLC | ||
4.13%, 08/15/30 (Call 08/15/25)(a) | GBP 100 | 103,007 |
4.25%, 01/15/30 (Call 10/15/24)(a) | GBP 150 | 157,838 |
4.50%, 08/15/30 (Call 08/15/25)(c) | USD 90 | 75,574 |
5.50%, 05/15/29 (Call 05/15/24)(c) | USD 150 | 136,116 |
Virgin Media Vendor Financing Notes III DAC, 4.88%, 07/15/28 (Call 05/30/24)(a) | GBP 100 | 111,450 |
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 05/31/24)(c) | USD 50 | 44,394 |
Vmed O2 U.K. Financing I PLC | ||
4.25%, 01/31/31 (Call 01/31/26)(c) | USD 125 | 102,500 |
4.75%, 07/15/31 (Call 07/15/26)(c) | USD 135 | 112,421 |
Vmed O2 UK Financing I PLC | ||
3.25%, 01/31/31 (Call 01/31/26)(a) | EUR 150 | 137,789 |
7.75%, 04/15/32 (Call 04/15/27)(c) | USD 75 | 73,789 |
Vodafone Group PLC | ||
3.00%, 08/27/80 (Call 05/27/30), (5-year EUR Swap + 3.477%)(a)(b) | EUR 100 | 96,024 |
3.25%, 06/04/81 (Call 06/04/26), (5-year CMT + 2.447%)(b) | USD 65 | 60,264 |
4.13%, 06/04/81 (Call 03/04/31), (5-year CMT + 2.767%)(b) | USD 95 | 79,230 |
6.50%, 08/30/84 (Call 05/30/29), (5-year EUR Swap + 3.489%)(a)(b) | EUR 150 | 170,888 |
7.00%, 04/04/79 (Call 01/04/29), (5-year USD Swap + 4.873%)(b) | USD 180 | 182,475 |
8.00%, 08/30/86 (Call 05/30/31), (5-year GUK + 3.837%)(a)(b) | GBP 100 | 132,849 |
7,158,534 | ||
United States — 63.2% | ||
Acrisure LLC/Acrisure Finance Inc. | ||
4.25%, 02/15/29 (Call 05/31/24)(c) | USD 70 | 62,663 |
6.00%, 08/01/29 (Call 08/01/24)(c) | USD 35 | 31,566 |
8.25%, 02/01/29 (Call 02/01/26)(c) | USD 100 | 99,151 |
10.13%, 08/01/26 (Call 05/31/24)(c) | USD 35 | 36,151 |
AdaptHealth LLC | ||
4.63%, 08/01/29 (Call 05/31/24)(c)(d) | USD 35 | 29,531 |
5.13%, 03/01/30 (Call 03/01/25)(c)(d) | USD 60 | 51,080 |
Adient Global Holdings Ltd. | ||
7.00%, 04/15/28 (Call 04/15/25)(c) | USD 50 | 50,465 |
8.25%, 04/15/31 (Call 04/15/26)(c)(d) | USD 55 | 57,029 |
ADT Security Corp. (The), 4.13%, 08/01/29 (Call 08/01/28)(c)(d) | USD 85 | 76,606 |
Advance Auto Parts Inc., 3.90%, 04/15/30 (Call 01/15/30) | USD 50 | 44,573 |
AG Issuer LLC, 6.25%, 03/01/28 (Call 05/31/24)(c) | USD 65 | 62,834 |
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27 (Call 09/30/24)(c) | USD 40 | 41,205 |
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC | ||
3.25%, 03/15/26 (Call 05/31/24)(c) | USD 55 | 52,235 |
3.50%, 03/15/29 (Call 05/31/24)(c) | USD 135 | 119,054 |
4.63%, 01/15/27 (Call 05/31/24)(c) | USD 140 | 134,031 |
4.88%, 02/15/30 (Call 02/15/25)(c) | USD 85 | 79,143 |
Security | Par (000 ) | Value |
United States (continued) | ||
5.88%, 02/15/28 (Call 05/31/24)(c) | USD 90 | $87,975 |
6.50%, 02/15/28 (Call 02/15/25)(c)(d) | USD 85 | 85,000 |
7.50%, 03/15/26 (Call 05/31/24)(c) | USD 50 | 50,669 |
Alcoa Nederland Holding BV | ||
4.13%, 03/31/29 (Call 05/16/24)(c) | USD 50 | 45,565 |
6.13%, 05/15/28 (Call 05/31/24)(c) | USD 25 | 24,805 |
7.13%, 03/15/31 (Call 03/15/27)(c) | USD 75 | 75,909 |
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer | ||
4.25%, 10/15/27 (Call 05/31/24)(c) | USD 75 | 69,877 |
5.88%, 11/01/29 (Call 11/01/24)(c)(d) | USD 30 | 27,502 |
6.75%, 10/15/27 (Call 05/31/24)(c) | USD 130 | 127,725 |
6.75%, 04/15/28 (Call 04/15/25)(c) | USD 110 | 109,567 |
7.00%, 01/15/31 (Call 01/15/27)(c) | USD 155 | 155,290 |
Allied Universal Holdco LLC, 7.88%, 02/15/31 (Call 02/15/27)(c) | USD 100 | 100,037 |
Allied Universal Holdco LLC/Allied Universal Finance Corp. | ||
6.00%, 06/01/29 (Call 06/01/24)(c)(d) | USD 100 | 84,799 |
6.63%, 07/15/26 (Call 05/31/24)(c) | USD 70 | 69,734 |
9.75%, 07/15/27 (Call 05/31/24)(c) | USD 115 | 114,488 |
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL | ||
3.63%, 06/01/28 (Call 06/01/24)(a) | EUR 100 | 97,528 |
4.63%, 06/01/28 (Call 06/01/24)(c) | USD 200 | 179,242 |
Allison Transmission Inc. | ||
3.75%, 01/30/31 (Call 01/30/26)(c)(d) | USD 110 | 93,882 |
4.75%, 10/01/27 (Call 05/13/24)(c) | USD 55 | 52,411 |
5.88%, 06/01/29 (Call 06/01/24)(c) | USD 40 | 38,961 |
Ally Financial Inc. | ||
5.75%, 11/20/25 (Call 10/21/25) | USD 105 | 104,112 |
6.70%, 02/14/33 (Call 11/16/32)(d) | USD 35 | 34,285 |
AMC Entertainment Holdings Inc., 7.50%, 02/15/29 (Call 02/15/25)(c)(d) | USD 105 | 72,060 |
AMC Networks Inc. | ||
4.25%, 02/15/29 (Call 05/13/24)(d) | USD 95 | 64,838 |
10.25%, 01/15/29 (Call 01/15/26)(c) | USD 75 | 75,000 |
American Airlines Inc. | ||
7.25%, 02/15/28 (Call 02/15/25)(c)(d) | USD 65 | 65,468 |
8.50%, 05/15/29 (Call 11/15/25)(c) | USD 115 | 119,771 |
American Airlines Inc./AAdvantage Loyalty IP Ltd. | ||
5.50%, 04/20/26(c) | USD 220 | 217,525 |
5.75%, 04/20/29(c) | USD 280 | 270,200 |
American Axle & Manufacturing Inc. | ||
5.00%, 10/01/29 (Call 10/01/24)(d) | USD 60 | 54,117 |
6.50%, 04/01/27 (Call 05/31/24) | USD 45 | 44,411 |
6.88%, 07/01/28 (Call 05/13/24)(d) | USD 25 | 24,803 |
American Builders & Contractors Supply Co. Inc. | ||
3.88%, 11/15/29 (Call 11/15/24)(c) | USD 35 | 30,629 |
4.00%, 01/15/28 (Call 05/31/24)(c) | USD 65 | 59,823 |
AmeriGas Partners LP/AmeriGas Finance Corp. | ||
5.50%, 05/20/25 (Call 02/20/25) | USD 50 | 49,687 |
5.75%, 05/20/27 (Call 02/20/27) | USD 50 | 48,385 |
5.88%, 08/20/26 (Call 05/20/26) | USD 70 | 68,878 |
9.38%, 06/01/28 (Call 06/01/25)(c) | USD 65 | 67,600 |
AmWINS Group Inc. | ||
4.88%, 06/30/29 (Call 06/30/24)(c) | USD 75 | 68,003 |
6.38%, 02/15/29 (Call 02/15/26)(c) | USD 70 | 69,083 |
Antero Midstream Partners LP/Antero Midstream Finance Corp. | ||
5.38%, 06/15/29 (Call 06/15/24)(c) | USD 80 | 76,060 |
Security | Par (000 ) | Value |
United States (continued) | ||
5.75%, 03/01/27 (Call 05/16/24)(c) | USD 55 | $53,914 |
5.75%, 01/15/28 (Call 05/16/24)(c) | USD 55 | 53,672 |
6.63%, 02/01/32 (Call 02/01/27)(c) | USD 65 | 64,575 |
7.88%, 05/15/26 (Call 05/16/24)(c) | USD 60 | 60,993 |
Antero Resources Corp. | ||
5.38%, 03/01/30 (Call 03/01/25)(c) | USD 60 | 56,932 |
7.63%, 02/01/29 (Call 05/31/24)(c) | USD 41 | 41,871 |
Anywhere Real Estate Group LLC/Anywhere Co-Issuer Corp., 7.00%, 04/15/30 (Call 04/15/25)(c)(d) | USD 155 | 135,707 |
APX Group Inc. | ||
5.75%, 07/15/29 (Call 07/15/24)(c) | USD 95 | 88,374 |
6.75%, 02/15/27 (Call 05/31/24)(c) | USD 65 | 64,462 |
Aramark Services Inc. | ||
5.00%, 04/01/25 (Call 05/31/24)(c) | USD 60 | 59,416 |
5.00%, 02/01/28 (Call 05/31/24)(c) | USD 110 | 104,637 |
Arches Buyer Inc. | ||
4.25%, 06/01/28 (Call 05/31/24)(c) | USD 90 | 77,057 |
6.13%, 12/01/28 (Call 05/31/24)(c)(d) | USD 60 | 48,750 |
Archrock Partners LP/Archrock Partners Finance Corp. | ||
6.25%, 04/01/28 (Call 05/31/24)(c) | USD 75 | 73,402 |
6.88%, 04/01/27 (Call 05/31/24)(c) | USD 50 | 49,863 |
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC | ||
2.00%, 09/01/28 (Call 05/31/24)(a) | EUR 100 | 92,980 |
3.25%, 09/01/28 (Call 05/31/24)(c) | USD 50 | 43,206 |
4.00%, 09/01/29 (Call 05/31/24)(c) | USD 100 | 82,219 |
6.00%, 06/15/27 (Call 06/15/24)(c) | USD 50 | 48,328 |
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. | ||
2.13%, 08/15/26 (Call 05/31/24)(a) | EUR 100 | 84,089 |
4.13%, 08/15/26 (Call 05/13/24)(c) | USD 110 | 91,761 |
4.75%, 07/15/27 (Call 05/10/24)(a) | GBP 100 | 60,417 |
5.25%, 04/30/25 (Call 05/31/24)(c) | USD 75 | 74,250 |
5.25%, 08/15/27 (Call 05/31/24)(c) | USD 100 | 50,988 |
Aretec Group Inc. | ||
7.50%, 04/01/29 (Call 05/31/24)(c) | USD 50 | 47,175 |
10.00%, 08/15/30 (Call 10/15/26)(c) | USD 70 | 75,711 |
Arsenal AIC Parent LLC | ||
8.00%, 10/01/30 (Call 10/01/26)(c) | USD 75 | 78,000 |
11.50%, 10/01/31 (Call 10/01/26)(c) | USD 50 | 55,578 |
Asbury Automotive Group Inc. | ||
4.50%, 03/01/28 (Call 05/13/24) | USD 51 | 47,711 |
4.63%, 11/15/29 (Call 11/15/24)(c)(d) | USD 70 | 63,251 |
4.75%, 03/01/30 (Call 03/01/25) | USD 35 | 31,721 |
5.00%, 02/15/32 (Call 11/15/26)(c) | USD 70 | 62,054 |
Ascent Resources Utica Holdings LLC/ARU Finance Corp. | ||
5.88%, 06/30/29 (Call 09/01/24)(c) | USD 65 | 61,741 |
7.00%, 11/01/26 (Call 05/31/24)(c) | USD 50 | 49,938 |
8.25%, 12/31/28 (Call 05/31/24)(c)(d) | USD 25 | 25,431 |
Ashland Services BV, 2.00%, 01/30/28 (Call 11/01/27)(a) | EUR 100 | 96,957 |
Ashton Woods USA LLC/Ashton Woods Finance Co., 4.63%, 04/01/30 (Call 04/01/25)(c) | USD 30 | 26,756 |
ASP Unifrax Holdings Inc. | ||
5.25%, 09/30/28 (Call 09/30/24)(c) | USD 85 | 53,950 |
7.50%, 09/30/29 (Call 09/30/24)(c)(d) | USD 35 | 17,866 |
AssuredPartners Inc. | ||
5.63%, 01/15/29 (Call 05/31/24)(c) | USD 50 | 45,563 |
Security | Par (000 ) | Value |
United States (continued) | ||
7.50%, 02/15/32 (Call 02/15/27)(c) | USD 50 | $48,524 |
AthenaHealth Group Inc., 6.50%, 02/15/30 (Call 02/15/25)(c)(d) | USD 240 | 215,519 |
ATI Inc., 7.25%, 08/15/30 (Call 08/15/26) | USD 60 | 61,359 |
Avantor Funding Inc. | ||
2.63%, 11/01/25 (Call 05/10/24)(a) | EUR 100 | 103,944 |
3.88%, 11/01/29 (Call 11/01/24)(c) | USD 95 | 84,312 |
4.63%, 07/15/28 (Call 05/31/24)(c) | USD 130 | 121,387 |
Avient Corp. | ||
5.75%, 05/15/25 (Call 05/31/24)(c) | USD 50 | 49,750 |
7.13%, 08/01/30 (Call 08/01/25)(c) | USD 75 | 75,746 |
Avis Budget Car Rental LLC/Avis Budget Finance Inc. | ||
4.75%, 04/01/28 (Call 05/13/24)(c)(d) | USD 50 | 44,194 |
5.38%, 03/01/29 (Call 05/31/24)(c) | USD 60 | 53,179 |
5.75%, 07/15/27 (Call 05/13/24)(c)(d) | USD 40 | 38,000 |
8.00%, 02/15/31 (Call 11/15/26)(c)(d) | USD 50 | 47,875 |
Axalta Coating Systems Dutch Holding B BV, 7.25%, 02/15/31 (Call 11/15/26)(c) | USD 50 | 50,911 |
Axalta Coating Systems LLC, 3.38%, 02/15/29 (Call 05/31/24)(c) | USD 75 | 65,438 |
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 05/31/24)(c) | USD 50 | 47,865 |
B&G Foods Inc. | ||
5.25%, 09/15/27 (Call 05/31/24)(d) | USD 55 | 50,775 |
8.00%, 09/15/28 (Call 09/15/25)(c) | USD 45 | 46,543 |
Ball Corp. | ||
2.88%, 08/15/30 (Call 05/15/30)(d) | USD 125 | 104,511 |
3.13%, 09/15/31 (Call 06/15/31) | USD 90 | 74,628 |
6.00%, 06/15/29 (Call 05/15/26) | USD 85 | 84,513 |
6.88%, 03/15/28 (Call 11/15/24) | USD 65 | 66,073 |
Bath & Body Works Inc. | ||
5.25%, 02/01/28 | USD 65 | 62,356 |
6.63%, 10/01/30 (Call 10/01/25)(c)(d) | USD 105 | 104,934 |
7.50%, 06/15/29 (Call 06/15/24)(d) | USD 40 | 41,096 |
Bausch & Lomb Corp., 8.38%, 10/01/28 (Call 10/01/25)(c)(d) | USD 140 | 144,453 |
Bausch Health Companies Inc. | ||
4.88%, 06/01/28 (Call 06/01/24)(c) | USD 175 | 113,312 |
5.25%, 01/30/30 (Call 01/30/25)(c) | USD 75 | 32,100 |
5.25%, 02/15/31 (Call 02/15/26)(c)(d) | USD 50 | 20,926 |
5.50%, 11/01/25 (Call 05/31/24)(c) | USD 195 | 182,632 |
5.75%, 08/15/27 (Call 05/16/24)(c) | USD 60 | 41,411 |
6.13%, 02/01/27 (Call 05/31/24)(c) | USD 140 | 102,637 |
6.25%, 02/15/29 (Call 05/13/24)(c)(d) | USD 75 | 32,719 |
9.00%, 12/15/25 (Call 05/31/24)(c)(d) | USD 100 | 94,289 |
11.00%, 09/30/28(c) | USD 264 | 205,626 |
Beacon Roofing Supply Inc., 6.50%, 08/01/30 (Call 08/01/26)(c) | USD 40 | 39,766 |
Belden Inc., 3.38%, 07/15/31 (Call 07/15/26)(a) | EUR 100 | 97,524 |
Berry Global Inc., 5.63%, 07/15/27 (Call 05/31/24)(c) | USD 30 | 29,250 |
Block Inc. | ||
2.75%, 06/01/26 (Call 05/01/26) | USD 100 | 93,628 |
3.50%, 06/01/31 (Call 03/01/31) | USD 80 | 67,700 |
Boost Newco Borrower LLC, 7.50%, 01/15/31 (Call 01/15/27)(c) | USD 200 | 205,587 |
Boyd Gaming Corp. | ||
4.75%, 12/01/27 (Call 05/13/24)(d) | USD 95 | 90,097 |
4.75%, 06/15/31 (Call 06/15/26)(c)(d) | USD 75 | 66,469 |
Security | Par (000 ) | Value |
United States (continued) | ||
Brand Industrial Services Inc., 10.38%, 08/01/30 (Call 08/01/26)(c) | USD 130 | $139,746 |
Brandywine Operating Partnership LP | ||
3.95%, 11/15/27 (Call 08/15/27) | USD 50 | 44,519 |
8.88%, 04/12/29 (Call 03/12/29) | USD 15 | 15,341 |
Bread Financial Holdings Inc., 9.75%, 03/15/29 (Call 03/15/26)(c) | USD 95 | 98,626 |
Brink's Co. (The) | ||
4.63%, 10/15/27 (Call 05/31/24)(c) | USD 60 | 56,294 |
5.50%, 07/15/25 (Call 05/31/24)(c) | USD 35 | 34,793 |
Brookfield Property Finance ULC | ||
4.00%, 09/30/26 (Call 08/30/26) | CAD 125 | 85,883 |
7.13%, 02/13/28 (Call 01/13/28) | CAD 100 | 73,855 |
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC | ||
4.50%, 04/01/27 (Call 05/31/24)(c) | USD 80 | 70,942 |
5.75%, 05/15/26 (Call 05/13/24)(c)(d) | USD 75 | 72,568 |
Buckeye Partners LP | ||
3.95%, 12/01/26 (Call 09/01/26) | USD 75 | 70,594 |
4.13%, 12/01/27 (Call 09/01/27) | USD 35 | 32,478 |
4.50%, 03/01/28 (Call 12/01/27)(c) | USD 50 | 46,584 |
Builders FirstSource Inc. | ||
4.25%, 02/01/32 (Call 08/01/26)(c) | USD 125 | 108,850 |
5.00%, 03/01/30 (Call 03/01/25)(c) | USD 55 | 51,454 |
6.38%, 06/15/32 (Call 06/15/27)(c)(d) | USD 65 | 64,343 |
6.38%, 03/01/34 (Call 03/01/29)(c) | USD 85 | 83,343 |
Burford Capital Global Finance LLC, 9.25%, 07/01/31 (Call 07/01/26)(c) | USD 50 | 52,120 |
Caesars Entertainment Inc. | ||
4.63%, 10/15/29 (Call 10/15/24)(c) | USD 115 | 102,640 |
6.50%, 02/15/32 (Call 02/15/27)(c) | USD 155 | 152,582 |
7.00%, 02/15/30 (Call 02/15/26)(c) | USD 180 | 181,125 |
8.13%, 07/01/27 (Call 05/13/24)(c)(d) | USD 185 | 187,312 |
Calpine Corp. | ||
3.75%, 03/01/31 (Call 03/01/26)(c) | USD 85 | 73,462 |
4.50%, 02/15/28 (Call 05/31/24)(c) | USD 105 | 97,767 |
4.63%, 02/01/29 (Call 05/31/24)(c) | USD 65 | 59,648 |
5.00%, 02/01/31 (Call 02/01/26)(c)(d) | USD 85 | 76,895 |
5.13%, 03/15/28 (Call 05/31/24)(c) | USD 125 | 118,455 |
5.25%, 06/01/26 (Call 05/31/24)(c) | USD 57 | 56,095 |
Camelot Return Merger Sub Inc., 8.75%, 08/01/28 (Call 08/01/24)(c) | USD 60 | 58,958 |
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/28 (Call 05/01/25)(c) | USD 200 | 216,741 |
Carnival PLC, 1.00%, 10/28/29 (Call 07/28/29) | EUR 100 | 83,943 |
Carvana Co. | ||
12.00%, 12/01/28 (Call 08/15/24), (12.00% PIK)(c)(h) | USD 100 | 97,955 |
13.00%, 06/01/30 (Call 08/15/25), (13.00% PIK)(c)(h) | USD 150 | 148,875 |
14.00%, 06/01/31 (Call 08/15/28), (14.00% PIK)(c)(h) | USD 150 | 150,375 |
Catalent Pharma Solutions Inc. | ||
2.38%, 03/01/28 (Call 05/30/24)(a) | EUR 100 | 100,943 |
3.13%, 02/15/29 (Call 05/31/24)(c) | USD 35 | 33,354 |
3.50%, 04/01/30 (Call 04/01/25)(c) | USD 70 | 66,610 |
5.00%, 07/15/27 (Call 05/31/24)(c) | USD 65 | 63,711 |
CCO Holdings LLC/CCO Holdings Capital Corp. | ||
4.25%, 02/01/31 (Call 07/01/25)(c) | USD 275 | 215,040 |
4.25%, 01/15/34 (Call 01/15/28)(c) | USD 185 | 134,125 |
Security | Par (000 ) | Value |
United States (continued) | ||
4.50%, 08/15/30 (Call 02/15/25)(c) | USD 260 | $210,632 |
4.50%, 05/01/32 (Call 05/01/26) | USD 285 | 218,512 |
4.50%, 06/01/33 (Call 06/01/27)(c) | USD 155 | 116,637 |
4.75%, 03/01/30 (Call 09/01/24)(c) | USD 285 | 236,805 |
4.75%, 02/01/32 (Call 02/01/27)(c) | USD 120 | 94,298 |
5.00%, 02/01/28 (Call 05/16/24)(c) | USD 240 | 218,551 |
5.13%, 05/01/27 (Call 05/31/24)(c) | USD 330 | 309,504 |
5.38%, 06/01/29 (Call 06/01/24)(c) | USD 150 | 132,187 |
5.50%, 05/01/26 (Call 05/31/24)(c) | USD 70 | 68,600 |
6.38%, 09/01/29 (Call 09/01/25)(c)(d) | USD 160 | 146,674 |
7.38%, 03/01/31 (Call 03/01/26)(c) | USD 105 | 99,310 |
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)(d) | USD 60 | 55,834 |
Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op | ||
5.38%, 04/15/27 (Call 05/31/24)(d) | USD 70 | 67,786 |
5.50%, 05/01/25 (Call 05/02/24)(c) | USD 75 | 74,899 |
Central Garden & Pet Co. | ||
4.13%, 10/15/30 (Call 10/15/25)(d) | USD 50 | 43,625 |
4.13%, 04/30/31 (Call 04/30/26)(c) | USD 40 | 34,527 |
Central Parent Inc./CDK Global Inc., 7.25%, 06/15/29 (Call 06/15/25)(c) | USD 75 | 75,779 |
Central Parent LLC/CDK Global II LLC/CDK Financing Co. Inc., 8.00%, 06/15/29 (Call 06/15/25)(c) | USD 75 | 76,921 |
Century Communities Inc. | ||
3.88%, 08/15/29 (Call 02/15/29)(c) | USD 50 | 43,665 |
6.75%, 06/01/27 (Call 05/31/24) | USD 50 | 50,002 |
Charles River Laboratories International Inc. | ||
3.75%, 03/15/29 (Call 05/31/24)(c) | USD 35 | 31,376 |
4.00%, 03/15/31 (Call 03/15/26)(c) | USD 65 | 56,583 |
4.25%, 05/01/28 (Call 05/16/24)(c) | USD 50 | 46,563 |
Chart Industries Inc. | ||
7.50%, 01/01/30 (Call 01/01/26)(c) | USD 139 | 142,146 |
9.50%, 01/01/31 (Call 01/01/26)(c)(d) | USD 50 | 53,514 |
Chemours Co. (The) | ||
4.63%, 11/15/29 (Call 11/15/24)(c) | USD 55 | 47,277 |
5.38%, 05/15/27 (Call 02/15/27) | USD 50 | 47,402 |
5.75%, 11/15/28 (Call 05/13/24)(c) | USD 80 | 73,335 |
Chesapeake Energy Corp. | ||
5.50%, 02/01/26 (Call 05/31/24)(c) | USD 50 | 49,313 |
5.88%, 02/01/29 (Call 05/31/24)(c)(d) | USD 57 | 55,930 |
6.75%, 04/15/29 (Call 05/31/24)(c) | USD 100 | 99,848 |
CHS/Community Health Systems Inc. | ||
4.75%, 02/15/31 (Call 02/15/26)(c) | USD 120 | 93,742 |
5.25%, 05/15/30 (Call 05/15/25)(c) | USD 140 | 114,450 |
5.63%, 03/15/27 (Call 05/16/24)(c) | USD 180 | 164,925 |
6.00%, 01/15/29 (Call 05/16/24)(c) | USD 80 | 69,610 |
6.13%, 04/01/30 (Call 04/01/25)(c) | USD 115 | 80,699 |
6.88%, 04/01/28 (Call 05/16/24)(c) | USD 85 | 58,157 |
6.88%, 04/15/29 (Call 05/31/24)(c) | USD 140 | 103,607 |
8.00%, 03/15/26 (Call 05/31/24)(c)(d) | USD 92 | 91,609 |
8.00%, 12/15/27 (Call 05/16/24)(c) | USD 74 | 72,422 |
10.88%, 01/15/32 (Call 02/15/27)(c) | USD 100 | 102,362 |
Churchill Downs Inc. | ||
4.75%, 01/15/28 (Call 05/31/24)(c) | USD 75 | 70,734 |
5.50%, 04/01/27 (Call 05/31/24)(c) | USD 50 | 48,650 |
5.75%, 04/01/30 (Call 04/01/25)(c) | USD 120 | 113,868 |
6.75%, 05/01/31 (Call 05/01/26)(c) | USD 55 | 54,558 |
Cinemark USA Inc. | ||
5.25%, 07/15/28 (Call 07/15/24)(c) | USD 60 | 55,472 |
5.88%, 03/15/26 (Call 05/31/24)(c)(d) | USD 35 | 34,544 |
Security | Par (000 ) | Value |
United States (continued) | ||
CITGO Petroleum Corp. | ||
6.38%, 06/15/26 (Call 05/31/24)(c) | USD 65 | $64,876 |
7.00%, 06/15/25 (Call 05/31/24)(c) | USD 95 | 94,823 |
8.38%, 01/15/29 (Call 10/15/25)(c) | USD 110 | 113,850 |
Civitas Resources Inc. | ||
8.38%, 07/01/28 (Call 07/01/25)(c) | USD 155 | 161,491 |
8.63%, 11/01/30 (Call 11/01/26)(c) | USD 100 | 106,343 |
8.75%, 07/01/31 (Call 07/01/26)(c) | USD 130 | 137,772 |
Clarios Global LP, 6.75%, 05/15/25 (Call 05/31/24)(c) | USD 32 | 32,040 |
Clarios Global LP/Clarios U.S. Finance Co. | ||
4.38%, 05/15/26 (Call 05/31/24)(a) | EUR 100 | 105,487 |
6.25%, 05/15/26 (Call 05/31/24)(c)(d) | USD 110 | 109,689 |
6.75%, 05/15/28 (Call 05/15/25)(c) | USD 75 | 75,190 |
8.50%, 05/15/27 (Call 05/31/24)(c)(d) | USD 195 | 195,132 |
Clarivate Science Holdings Corp. | ||
3.88%, 07/01/28 (Call 06/30/24)(c) | USD 85 | 77,348 |
4.88%, 07/01/29 (Call 06/30/24)(c) | USD 85 | 77,531 |
Clean Harbors Inc. | ||
4.88%, 07/15/27 (Call 05/31/24)(c) | USD 50 | 48,181 |
6.38%, 02/01/31 (Call 02/01/26)(c)(d) | USD 65 | 64,251 |
Clear Channel Outdoor Holdings Inc. | ||
5.13%, 08/15/27 (Call 05/31/24)(c)(d) | USD 130 | 120,386 |
7.50%, 06/01/29 (Call 06/01/24)(c) | USD 100 | 80,057 |
7.75%, 04/15/28 (Call 05/31/24)(c)(d) | USD 110 | 93,225 |
7.88%, 04/01/30 (Call 10/01/26)(c)(d) | USD 65 | 63,696 |
9.00%, 09/15/28 (Call 09/15/25)(c)(d) | USD 75 | 77,112 |
Clearway Energy Operating LLC | ||
3.75%, 02/15/31 (Call 02/15/26)(c)(d) | USD 70 | 59,067 |
4.75%, 03/15/28 (Call 05/13/24)(c) | USD 85 | 80,189 |
Cleveland-Cliffs Inc. | ||
5.88%, 06/01/27 (Call 05/31/24) | USD 70 | 69,165 |
6.75%, 04/15/30 (Call 04/15/26)(c)(d) | USD 75 | 73,078 |
7.00%, 03/15/32 (Call 03/15/27)(c) | USD 70 | 68,358 |
Cloud Software Group Inc. | ||
6.50%, 03/31/29 (Call 09/30/25)(c) | USD 405 | 384,244 |
9.00%, 09/30/29 (Call 09/30/25)(c) | USD 370 | 356,446 |
Clydesdale Acquisition Holdings Inc. | ||
6.63%, 04/15/29 (Call 04/15/25)(c)(d) | USD 40 | 39,900 |
8.75%, 04/15/30 (Call 04/15/25)(c) | USD 105 | 101,500 |
CMG Media Corp., 8.88%, 12/15/27 (Call 05/13/24)(c) | USD 90 | 49,635 |
CNX Resources Corp. | ||
6.00%, 01/15/29 (Call 05/31/24)(c)(d) | USD 65 | 62,940 |
7.25%, 03/01/32 (Call 03/01/27)(c)(d) | USD 35 | 35,131 |
7.38%, 01/15/31 (Call 01/15/26)(c) | USD 45 | 45,506 |
Coinbase Global Inc. | ||
3.38%, 10/01/28 (Call 10/01/24)(c)(d) | USD 105 | 87,701 |
3.63%, 10/01/31 (Call 10/01/26)(c) | USD 70 | 54,507 |
CommScope Inc. | ||
4.75%, 09/01/29 (Call 09/01/24)(c) | USD 115 | 80,335 |
6.00%, 03/01/26 (Call 05/31/24)(c) | USD 140 | 123,986 |
7.13%, 07/01/28 (Call 05/31/24)(c) | USD 60 | 19,977 |
8.25%, 03/01/27 (Call 05/31/24)(c) | USD 100 | 38,374 |
CommScope Technologies LLC | ||
5.00%, 03/15/27 (Call 05/13/24)(c) | USD 90 | 30,835 |
6.00%, 06/15/25 (Call 05/13/24)(c)(d) | USD 106 | 83,740 |
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 05/31/24)(c) | USD 100 | 93,470 |
Security | Par (000 ) | Value |
United States (continued) | ||
Comstock Resources Inc. | ||
5.88%, 01/15/30 (Call 01/15/25)(c)(d) | USD 85 | $77,131 |
6.75%, 03/01/29 (Call 05/16/24)(c) | USD 165 | 156,629 |
Consolidated Communications Inc. | ||
5.00%, 10/01/28 (Call 05/13/24)(c)(d) | USD 35 | 28,870 |
6.50%, 10/01/28 (Call 05/13/24)(c) | USD 85 | 73,737 |
Constellium SE | ||
3.13%, 07/15/29 (Call 07/15/24)(a) | EUR 100 | 98,295 |
3.75%, 04/15/29 (Call 05/13/24)(c) | USD 50 | 44,341 |
Coty Inc. | ||
5.00%, 04/15/26 (Call 05/31/24)(c) | USD 95 | 93,240 |
5.75%, 09/15/28 (Call 09/15/25)(a) | EUR 100 | 110,192 |
6.50%, 04/15/26 (Call 05/31/24)(c)(d) | USD 14 | 14,002 |
Coty Inc./HFC Prestige Products Inc./HFC Prestige International U.S. LLC | ||
4.75%, 01/15/29 (Call 01/15/25)(c)(d) | USD 35 | 32,609 |
6.63%, 07/15/30 (Call 07/16/26)(c) | USD 75 | 74,957 |
Covanta Holding Corp. | ||
4.88%, 12/01/29 (Call 12/01/24)(c) | USD 75 | 65,755 |
5.00%, 09/01/30 (Call 09/01/25) | USD 50 | 43,188 |
CQP Holdco LP/BIP-V Chinook Holdco LLC | ||
5.50%, 06/15/31 (Call 06/15/26)(c) | USD 125 | 114,687 |
7.50%, 12/15/33 (Call 12/15/28)(c) | USD 50 | 50,271 |
Credit Acceptance Corp., 9.25%, 12/15/28 (Call 12/15/25)(c)(d) | USD 60 | 63,554 |
Crescent Energy Finance LLC | ||
7.63%, 04/01/32 (Call 04/01/27)(c) | USD 65 | 65,045 |
9.25%, 02/15/28 (Call 02/15/25)(c) | USD 100 | 105,225 |
Crown Americas LLC, 5.25%, 04/01/30 (Call 01/01/30) | USD 45 | 42,834 |
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26 (Call 03/31/26)(d) | USD 35 | 33,600 |
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26 (Call 05/31/24) | USD 90 | 88,025 |
Crown European Holdings SA | ||
2.88%, 02/01/26 (Call 08/01/25)(a) | EUR 100 | 104,571 |
4.75%, 03/15/29 (Call 12/15/28)(a) | EUR 100 | 108,186 |
CrownRock LP/CrownRock Finance Inc. | ||
5.00%, 05/01/29 (Call 05/31/24)(c) | USD 45 | 44,330 |
5.63%, 10/15/25 (Call 05/31/24)(c) | USD 100 | 99,395 |
CSC Holdings LLC | ||
3.38%, 02/15/31 (Call 02/15/26)(c) | USD 100 | 61,625 |
4.13%, 12/01/30 (Call 12/01/25)(c) | USD 100 | 63,500 |
4.50%, 11/15/31 (Call 11/15/26)(c) | USD 150 | 95,008 |
4.63%, 12/01/30 (Call 12/01/25)(c) | USD 225 | 97,031 |
5.00%, 11/15/31 (Call 11/15/26)(c) | USD 60 | 25,176 |
5.38%, 02/01/28 (Call 05/31/24)(c) | USD 100 | 76,689 |
5.50%, 04/15/27 (Call 05/31/24)(c) | USD 125 | 102,256 |
5.75%, 01/15/30 (Call 01/15/25)(c) | USD 225 | 98,437 |
6.50%, 02/01/29 (Call 05/13/24)(c) | USD 150 | 111,375 |
7.50%, 04/01/28 (Call 05/13/24)(c) | USD 100 | 53,750 |
11.25%, 05/15/28 (Call 05/15/25)(c) | USD 100 | 88,500 |
11.75%, 01/31/29 (Call 01/31/26)(c) | USD 200 | 177,250 |
Cushman & Wakefield U.S. Borrower LLC | ||
6.75%, 05/15/28 (Call 05/31/24)(c) | USD 50 | 49,301 |
8.88%, 09/01/31 (Call 09/01/26)(c)(d) | USD 40 | 41,565 |
CVR Energy Inc. | ||
5.75%, 02/15/28 (Call 05/16/24)(c) | USD 45 | 41,879 |
8.50%, 01/15/29 (Call 01/15/26)(c) | USD 50 | 49,813 |
Dana Financing Luxembourg Sarl, 8.50%, 07/15/31 (Call 07/15/26)(a) | EUR 100 | 116,109 |
Security | Par (000 ) | Value |
United States (continued) | ||
Dana Inc. | ||
4.25%, 09/01/30 (Call 05/01/26) | USD 50 | $43,339 |
5.38%, 11/15/27 (Call 05/13/24) | USD 40 | 38,650 |
5.63%, 06/15/28 (Call 05/13/24)(d) | USD 30 | 28,952 |
Darling Global Finance BV, 3.63%, 05/15/26 (Call 05/10/24)(a) | EUR 100 | 105,221 |
Darling Ingredients Inc. | ||
5.25%, 04/15/27 (Call 05/13/24)(c)(d) | USD 50 | 48,505 |
6.00%, 06/15/30 (Call 06/15/25)(c)(d) | USD 105 | 101,984 |
DaVita Inc. | ||
3.75%, 02/15/31 (Call 02/15/26)(c) | USD 150 | 123,349 |
4.63%, 06/01/30 (Call 06/01/25)(c)(d) | USD 265 | 232,042 |
Delek Logistics Partners LP / Delek Logistics Finance Corp., 8.63%, 03/15/29 (Call 03/15/26)(c) | USD 100 | 101,092 |
Delta Air Lines Inc. | ||
3.75%, 10/28/29 (Call 07/28/29) | USD 75 | 67,406 |
4.38%, 04/19/28 (Call 01/19/28)(d) | USD 50 | 47,800 |
7.38%, 01/15/26 (Call 12/15/25) | USD 85 | 86,878 |
Directv Financing LLC, 8.88%, 02/01/30 (Call 02/01/26)(c) | USD 85 | 82,562 |
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 05/31/24)(c)(d) | USD 350 | 326,812 |
DISH DBS Corp. | ||
5.25%, 12/01/26 (Call 06/01/26)(c) | USD 235 | 184,551 |
5.75%, 12/01/28 (Call 12/01/27)(c) | USD 250 | 168,750 |
7.38%, 07/01/28 (Call 05/13/24) | USD 105 | 46,725 |
7.75%, 07/01/26 | USD 200 | 125,200 |
5.13%, 06/01/29 | USD 150 | 59,813 |
DISH Network Corp., 11.75%, 11/15/27 (Call 05/15/25)(c) | USD 338 | 340,221 |
Diversified Healthcare Trust | ||
4.38%, 03/01/31 (Call 09/01/30) | USD 40 | 28,901 |
4.75%, 02/15/28 (Call 08/15/27)(d) | USD 60 | 47,220 |
9.75%, 06/15/25 (Call 05/16/24) | USD 40 | 40,080 |
DPL Inc. | ||
4.13%, 07/01/25 (Call 04/01/25) | USD 55 | 53,601 |
4.35%, 04/15/29 (Call 01/15/29) | USD 40 | 35,947 |
DT Midstream Inc. | ||
4.13%, 06/15/29 (Call 06/15/24)(c) | USD 110 | 99,685 |
4.38%, 06/15/31 (Call 06/15/26)(c)(d) | USD 90 | 79,710 |
Edgewell Personal Care Co. | ||
4.13%, 04/01/29 (Call 05/13/24)(c) | USD 50 | 45,237 |
5.50%, 06/01/28 (Call 05/31/24)(c) | USD 80 | 77,210 |
Edison International | ||
7.88%, 06/15/54 (Call 03/15/29), (5-year CMT + 3.658%)(b) | USD 60 | 60,941 |
8.13%, 06/15/53 (Call 03/15/28), (5-year CMT + 3.864%)(b) | USD 50 | 50,875 |
EMRLD Borrower LP/Emerald Co-Issuer Inc. | ||
6.38%, 12/15/30 (Call 06/15/26)(a) | EUR 100 | 111,503 |
6.63%, 12/15/30 (Call 06/15/26)(c) | USD 210 | 208,687 |
Encino Acquisition Partners Holdings LLC, 8.75%, 05/01/31 (Call 05/01/27)(c)(d) | USD 20 | 20,352 |
Encompass Health Corp. | ||
4.50%, 02/01/28 (Call 05/31/24) | USD 90 | 84,554 |
4.63%, 04/01/31 (Call 04/01/26) | USD 40 | 35,833 |
4.75%, 02/01/30 (Call 02/01/25) | USD 80 | 73,338 |
Encore Capital Group Inc., 4.25%, 06/01/28 (Call 06/01/24)(a) | GBP 100 | 104,437 |
Security | Par (000 ) | Value |
United States (continued) | ||
Endeavor Energy Resources LP/EER Finance Inc., 5.75%, 01/30/28 (Call 05/03/24)(c) | USD 100 | $101,300 |
Endo Finance Holdings Inc., 8.50%, 04/15/31 (Call 04/15/27)(c)(d) | USD 67 | 68,038 |
Energizer Gamma Acquisition BV, 3.50%, 06/30/29 (Call 06/30/24)(a) | EUR 100 | 95,047 |
Energizer Holdings Inc. | ||
4.38%, 03/31/29 (Call 05/31/24)(c)(d) | USD 65 | 57,068 |
4.75%, 06/15/28 (Call 05/31/24)(c) | USD 60 | 54,450 |
Energy Transfer LP, 8.00%, 05/15/54 (Call 02/15/29), (5-year CMT + 4.020%)(b)(d) | USD 90 | 92,621 |
Entegris Inc. | ||
3.63%, 05/01/29 (Call 05/31/24)(c)(d) | USD 35 | 30,909 |
4.38%, 04/15/28 (Call 05/13/24)(c) | USD 50 | 46,640 |
4.75%, 04/15/29 (Call 01/15/29)(c) | USD 175 | 165,202 |
5.95%, 06/15/30 (Call 06/15/25)(c)(d) | USD 75 | 72,993 |
EQM Midstream Partners LP | ||
4.13%, 12/01/26 (Call 09/01/26) | USD 35 | 33,381 |
4.50%, 01/15/29 (Call 07/15/28)(c) | USD 80 | 74,000 |
4.75%, 01/15/31 (Call 07/15/30)(c)(d) | USD 110 | 100,527 |
5.50%, 07/15/28 (Call 04/15/28) | USD 100 | 97,312 |
6.00%, 07/01/25 (Call 04/01/25)(c) | USD 35 | 34,879 |
6.38%, 04/01/29 (Call 04/01/26)(c) | USD 50 | 49,532 |
6.50%, 07/01/27 (Call 01/01/27)(c) | USD 75 | 75,094 |
7.50%, CALL, 06/01/27 (Call 06/01/24)(c) | USD 40 | 40,741 |
7.50%, CALL, 06/01/30 (Call 12/01/29)(c) | USD 50 | 52,438 |
EquipmentShare.com Inc. | ||
8.63%, 05/15/32 (Call 05/15/27)(c) | USD 70 | 71,247 |
9.00%, 05/15/28 (Call 05/15/25)(c) | USD 95 | 97,677 |
Fair Isaac Corp. | ||
4.00%, 06/15/28 (Call 05/16/24)(c) | USD 75 | 68,909 |
5.25%, 05/15/26 (Call 02/15/26)(c) | USD 35 | 34,404 |
Ferrellgas LP/Ferrellgas Finance Corp. | ||
5.38%, 04/01/26 (Call 05/31/24)(c) | USD 65 | 63,648 |
5.88%, 04/01/29 (Call 05/31/24)(c) | USD 70 | 66,276 |
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc. | ||
4.63%, 01/15/29 (Call 01/15/25)(c) | USD 100 | 90,129 |
6.75%, 01/15/30 (Call 01/15/25)(c)(d) | USD 115 | 100,113 |
FirstCash Inc. | ||
4.63%, 09/01/28 (Call 05/31/24)(c) | USD 50 | 46,188 |
5.63%, 01/01/30 (Call 01/01/25)(c) | USD 45 | 42,398 |
6.88%, 03/01/32 (Call 03/01/27)(c) | USD 65 | 64,097 |
Fortress Transportation and Infrastructure Investors LLC | ||
7.00%, 05/01/31 (Call 05/01/27)(c) | USD 80 | 80,449 |
7.88%, 12/01/30 (Call 12/01/26)(c) | USD 50 | 51,799 |
5.50%, 05/01/28 (Call 05/31/24)(c) | USD 100 | 96,000 |
9.75%, 08/01/27 (Call 05/13/24)(c) | USD 40 | 41,299 |
Freedom Mortgage Corp. | ||
6.63%, 01/15/27 (Call 05/31/24)(c) | USD 85 | 81,797 |
7.63%, 05/01/26 (Call 05/16/24)(c) | USD 45 | 44,732 |
12.00%, 10/01/28 (Call 10/01/25)(c) | USD 50 | 53,447 |
12.25%, 10/01/30 (Call 10/01/26)(c) | USD 50 | 54,250 |
Freedom Mortgage Holdings LLC, 9.25%, 02/01/29 (Call 02/01/26)(c) | USD 60 | 60,496 |
Frontier Communications Holdings LLC | ||
5.00%, 05/01/28 (Call 05/31/24)(c) | USD 140 | 128,300 |
5.88%, 10/15/27 (Call 05/31/24)(c) | USD 110 | 105,462 |
5.88%, 11/01/29 (Call 11/01/24)(d) | USD 75 | 62,507 |
6.00%, 01/15/30 (Call 10/15/24)(c) | USD 95 | 78,850 |
Security | Par (000 ) | Value |
United States (continued) | ||
6.75%, 05/01/29 (Call 05/31/24)(c) | USD 95 | $83,600 |
8.63%, 03/15/31 (Call 03/15/26)(c)(d) | USD 75 | 75,750 |
8.75%, 05/15/30 (Call 05/15/25)(c) | USD 125 | 127,041 |
FXI Holdings Inc. | ||
12.25%, 11/15/26 (Call 05/31/24)(c)(d) | USD 59 | 58,545 |
12.25%, 11/15/26 (Call 05/16/24)(c)(d) | USD 49 | 48,633 |
Gap Inc. (The) | ||
3.63%, 10/01/29 (Call 10/01/24)(c) | USD 80 | 67,712 |
3.88%, 10/01/31 (Call 10/01/26)(c)(d) | USD 69 | 56,275 |
Gen Digital Inc. | ||
6.75%, 09/30/27 (Call 09/30/24)(c) | USD 90 | 90,234 |
7.13%, 09/30/30 (Call 09/30/25)(c)(d) | USD 65 | 65,508 |
Genesis Energy LP/Genesis Energy Finance Corp. | ||
7.75%, 02/01/28 (Call 05/31/24) | USD 65 | 64,934 |
8.00%, 01/15/27 (Call 05/31/24) | USD 105 | 106,312 |
8.25%, 01/15/29 (Call 01/15/26) | USD 70 | 71,035 |
8.88%, 04/15/30 (Call 04/15/26) | USD 30 | 30,988 |
GEO Group Inc. (The) | ||
8.63%, 04/15/29 (Call 04/15/26)(c) | USD 35 | 35,569 |
10.25%, 04/15/31 (Call 04/15/27)(c) | USD 32 | 32,976 |
Global Atlantic Fin Co., 4.70%, 10/15/51 (Call 07/15/26), (5-year CMT + 3.796%)(b)(c) | USD 70 | 61,811 |
Global Partners LP/GLP Finance Corp., 8.25%, 01/15/32 (Call 01/15/27)(c) | USD 55 | 56,388 |
Go Daddy Operating Co. LLC/GD Finance Co. Inc. | ||
3.50%, 03/01/29 (Call 05/31/24)(c)(d) | USD 70 | 62,068 |
5.25%, 12/01/27 (Call 05/31/24)(c) | USD 60 | 57,898 |
Goodyear Tire & Rubber Co. (The) | ||
4.88%, 03/15/27 (Call 12/15/26)(d) | USD 85 | 81,302 |
5.00%, 05/31/26 (Call 05/31/24)(d) | USD 65 | 62,810 |
5.00%, 07/15/29 (Call 04/15/29)(d) | USD 70 | 63,464 |
5.25%, 04/30/31 (Call 01/30/31)(d) | USD 60 | 53,703 |
5.25%, 07/15/31 (Call 04/15/31)(d) | USD 65 | 57,200 |
5.63%, 04/30/33 (Call 01/30/33)(d) | USD 40 | 34,962 |
9.50%, 05/31/25 (Call 05/16/24) | USD 70 | 70,262 |
Graphic Packaging International LLC | ||
3.50%, 03/15/28(c) | USD 35 | 31,805 |
3.75%, 02/01/30 (Call 08/01/29)(c) | USD 55 | 47,906 |
Gray Television Inc. | ||
4.75%, 10/15/30 (Call 10/15/25)(c)(d) | USD 85 | 51,319 |
5.38%, 11/15/31 (Call 11/15/26)(c)(d) | USD 120 | 71,968 |
5.88%, 07/15/26 (Call 05/31/24)(c)(d) | USD 75 | 72,366 |
7.00%, 05/15/27 (Call 05/13/24)(c) | USD 75 | 68,344 |
GTCR AP Finance Inc., 8.00%, 05/15/27 (Call 05/31/24)(c) | USD 50 | 50,012 |
H&E Equipment Services Inc., 3.88%, 12/15/28 (Call 05/31/24)(c) | USD 100 | 88,500 |
Hanesbrands Inc. | ||
4.88%, 05/15/26 (Call 02/15/26)(c) | USD 75 | 72,589 |
9.00%, 02/15/31 (Call 02/15/26)(c)(d) | USD 60 | 59,561 |
Harvest Midstream I LP, 7.50%, 05/15/32 (Call 05/15/27)(c) | USD 45 | 45,056 |
HAT Holdings I LLC/HAT Holdings II LLC | ||
3.38%, 06/15/26 (Call 03/15/26)(c) | USD 105 | 97,387 |
8.00%, 06/15/27 (Call 03/15/27)(c) | USD 75 | 76,894 |
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 05/13/24)(c)(d) | USD 115 | 107,832 |
Heartland Dental LLC/Heartland Dental Finance Corp., 10.50%, 04/30/28 (Call 05/15/25)(c) | USD 75 | 79,183 |
Security | Par (000 ) | Value |
United States (continued) | ||
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 05/31/24)(c) | USD 32 | $30,696 |
Herc Holdings Inc., 5.50%, 07/15/27 (Call 05/31/24)(c) | USD 110 | 106,877 |
Hertz Corp. (The) | ||
4.63%, 12/01/26 (Call 05/31/24)(c) | USD 60 | 46,500 |
5.00%, 12/01/29 (Call 12/01/24)(c)(d) | USD 100 | 68,625 |
Hess Midstream Operations LP | ||
4.25%, 02/15/30 (Call 02/15/25)(c) | USD 70 | 63,000 |
5.13%, 06/15/28 (Call 05/31/24)(c) | USD 45 | 43,088 |
5.50%, 10/15/30 (Call 10/15/25)(c) | USD 40 | 38,074 |
5.63%, 02/15/26 (Call 05/31/24)(c) | USD 75 | 74,102 |
Hilcorp Energy I LP/Hilcorp Finance Co. | ||
5.75%, 02/01/29 (Call 05/31/24)(c) | USD 55 | 52,800 |
6.00%, 04/15/30 (Call 04/15/25)(c) | USD 45 | 42,938 |
6.00%, 02/01/31 (Call 02/01/26)(c) | USD 80 | 76,422 |
6.25%, 11/01/28 (Call 05/31/24)(c)(d) | USD 60 | 59,150 |
6.25%, 04/15/32 (Call 05/15/27)(c) | USD 60 | 57,698 |
8.38%, 11/01/33 (Call 11/01/28)(c) | USD 55 | 58,959 |
Hillenbrand Inc., 6.25%, 02/15/29 (Call 02/15/26)(d) | USD 55 | 54,581 |
Hilton Domestic Operating Co. Inc. | ||
3.63%, 02/15/32 (Call 08/15/26)(c) | USD 145 | 121,750 |
3.75%, 05/01/29 (Call 05/31/24)(c) | USD 75 | 67,406 |
4.00%, 05/01/31 (Call 05/01/26)(c) | USD 100 | 87,448 |
4.88%, 01/15/30 (Call 01/15/25)(d) | USD 105 | 98,679 |
5.38%, 05/01/25 (Call 05/13/24)(c) | USD 35 | 34,795 |
5.75%, 05/01/28 (Call 05/31/24)(c) | USD 60 | 59,262 |
5.88%, 04/01/29 (Call 04/01/26)(c) | USD 40 | 39,477 |
6.13%, 04/01/32 (Call 04/01/27)(c)(d) | USD 35 | 34,445 |
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc | ||
4.88%, 07/01/31 (Call 07/01/26)(c) | USD 50 | 43,494 |
5.00%, 06/01/29 (Call 06/01/24)(c) | USD 85 | 77,171 |
6.63%, 01/15/32 (Call 01/15/27)(c) | USD 75 | 73,875 |
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27 (Call 05/16/24) | USD 60 | 58,277 |
HLF Financing Sarl LLC / Herbalife International Inc., 12.25%, 04/15/29 (Call 04/15/26)(c) | USD 93 | 88,755 |
HLF Financing Sarl LLC/Herbalife International Inc., 4.88%, 06/01/29 (Call 06/01/24)(c) | USD 65 | 38,044 |
Hologic Inc. | ||
3.25%, 02/15/29 (Call 05/31/24)(c) | USD 100 | 87,725 |
4.63%, 02/01/28 (Call 05/31/24)(c) | USD 25 | 23,739 |
Howard Hughes Corp. (The) | ||
4.13%, 02/01/29 (Call 05/16/24)(c) | USD 40 | 35,291 |
4.38%, 02/01/31 (Call 02/01/26)(c)(d) | USD 65 | 55,110 |
5.38%, 08/01/28 (Call 05/31/24)(c) | USD 75 | 70,594 |
Hub International Ltd., 5.63%, 12/01/29 (Call 12/01/24)(c) | USD 40 | 36,696 |
HUB International Ltd. | ||
7.25%, 06/15/30 (Call 06/15/26)(c) | USD 330 | 334,395 |
7.38%, 01/31/32 (Call 01/31/27)(c) | USD 180 | 178,074 |
Hudson Pacific Properties LP | ||
3.25%, 01/15/30 (Call 10/15/29)(d) | USD 50 | 37,750 |
3.95%, 11/01/27 (Call 08/01/27)(d) | USD 25 | 22,050 |
4.65%, 04/01/29 (Call 01/01/29) | USD 50 | 42,125 |
Security | Par (000 ) | Value |
United States (continued) | ||
Hughes Satellite Systems Corp. | ||
5.25%, 08/01/26 | USD 75 | $62,063 |
6.63%, 08/01/26 | USD 85 | 48,875 |
Icahn Enterprises LP/Icahn Enterprises Finance Corp. | ||
4.38%, 02/01/29 (Call 08/01/28) | USD 85 | 71,478 |
5.25%, 05/15/27 (Call 11/15/26) | USD 142 | 130,523 |
6.25%, 05/15/26 (Call 05/31/24) | USD 105 | 102,116 |
6.38%, 12/15/25 (Call 05/31/24) | USD 70 | 68,775 |
9.75%, 01/15/29 (Call 10/15/28)(c) | USD 75 | 77,341 |
iHeartCommunications Inc. | ||
4.75%, 01/15/28 (Call 05/31/24)(c)(d) | USD 50 | 35,775 |
5.25%, 08/15/27 (Call 05/16/24)(c)(d) | USD 70 | 51,284 |
6.38%, 05/01/26 (Call 05/16/24) | USD 75 | 63,275 |
8.38%, 05/01/27 (Call 05/16/24)(d) | USD 95 | 50,873 |
Imola Merger Corp., 4.75%, 05/15/29 (Call 05/31/24)(c) | USD 175 | 161,169 |
International Game Technology PLC | ||
2.38%, 04/15/28 (Call 05/30/24)(a) | EUR 100 | 99,660 |
4.13%, 04/15/26 (Call 05/31/24)(c) | USD 75 | 72,281 |
5.25%, 01/15/29 (Call 05/31/24)(c) | USD 75 | 70,874 |
6.25%, 01/15/27 (Call 07/15/26)(c) | USD 60 | 59,876 |
IQVIA Inc. | ||
2.88%, 09/15/25 (Call 05/10/24)(a) | EUR 100 | 104,708 |
2.88%, 06/15/28 (Call 05/10/24)(a) | EUR 200 | 200,945 |
5.00%, 10/15/26 (Call 05/31/24)(c) | USD 50 | 48,887 |
5.00%, 05/15/27 (Call 05/31/24)(c) | USD 120 | 115,837 |
6.50%, 05/15/30 (Call 05/15/26)(c) | USD 75 | 75,253 |
Iron Mountain Inc. | ||
4.50%, 02/15/31 (Call 02/15/26)(c) | USD 105 | 92,662 |
4.88%, 09/15/27 (Call 05/13/24)(c) | USD 95 | 90,547 |
4.88%, 09/15/29 (Call 09/15/24)(c) | USD 95 | 87,495 |
5.00%, 07/15/28 (Call 05/13/24)(c) | USD 25 | 23,526 |
5.25%, 03/15/28 (Call 05/13/24)(c) | USD 100 | 95,719 |
5.25%, 07/15/30 (Call 07/15/25)(c)(d) | USD 120 | 111,286 |
5.63%, 07/15/32 (Call 07/15/26)(c) | USD 60 | 55,527 |
7.00%, 02/15/29 (Call 08/15/25)(c) | USD 100 | 100,625 |
Iron Mountain Information Management Services Inc., 5.00%, 07/15/32 (Call 07/15/27)(c) | USD 80 | 70,931 |
ITT Holdings LLC, 6.50%, 08/01/29 (Call 08/01/24)(c) | USD 115 | 103,813 |
Jane Street Group / JSG Finance Inc., 7.13%, 04/30/31 (Call 04/30/27)(c) | USD 135 | 135,780 |
Jazz Securities DAC, 4.38%, 01/15/29 (Call 07/15/24)(c) | USD 130 | 118,194 |
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)(c) | USD 100 | 89,991 |
Kaiser Aluminum Corp. | ||
4.50%, 06/01/31 (Call 06/01/26)(c)(d) | USD 60 | 52,575 |
4.63%, 03/01/28 (Call 05/31/24)(c) | USD 50 | 46,521 |
Kennedy-Wilson Inc. | ||
4.75%, 03/01/29 (Call 05/31/24) | USD 55 | 45,019 |
4.75%, 02/01/30 (Call 09/01/24) | USD 50 | 39,593 |
5.00%, 03/01/31 (Call 03/01/26) | USD 61 | 47,481 |
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 05/31/24)(c) | USD 75 | 72,158 |
Kinetik Holdings LP | ||
5.88%, 06/15/30 (Call 06/15/25)(c) | USD 95 | 91,713 |
6.63%, 12/15/28 (Call 12/15/25)(c) | USD 65 | 65,229 |
Security | Par (000 ) | Value |
United States (continued) | ||
Kohl's Corp., 4.63%, 05/01/31 (Call 02/01/31) | USD 50 | $41,313 |
LABL Inc. | ||
5.88%, 11/01/28 (Call 11/01/24)(c)(d) | USD 50 | 44,563 |
6.75%, 07/15/26 (Call 05/13/24)(c) | USD 65 | 63,976 |
8.25%, 11/01/29 (Call 11/01/24)(c) | USD 45 | 38,053 |
10.50%, 07/15/27 (Call 05/13/24)(c) | USD 70 | 68,755 |
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. | ||
4.25%, 02/01/27 (Call 05/31/24)(c) | USD 70 | 64,762 |
4.75%, 06/15/29 (Call 06/15/24)(c) | USD 53 | 47,322 |
Lamar Media Corp. | ||
3.63%, 01/15/31 (Call 01/15/26) | USD 55 | 46,916 |
3.75%, 02/15/28 (Call 05/16/24) | USD 50 | 46,078 |
4.00%, 02/15/30 (Call 02/15/25) | USD 60 | 53,455 |
4.88%, 01/15/29 (Call 05/31/24)(d) | USD 55 | 51,909 |
Lamb Weston Holdings Inc. | ||
4.13%, 01/31/30 (Call 01/31/25)(c)(d) | USD 90 | 80,111 |
4.38%, 01/31/32 (Call 01/31/27)(c) | USD 70 | 60,671 |
4.88%, 05/15/28 (Call 11/15/27)(c) | USD 40 | 38,080 |
LBM Acquisition LLC, 6.25%, 01/15/29 (Call 05/31/24)(c) | USD 80 | 73,160 |
LCM Investments Holdings II LLC | ||
4.88%, 05/01/29 (Call 05/31/24)(c) | USD 100 | 91,290 |
8.25%, 08/01/31 (Call 08/01/26)(c)(d) | USD 80 | 83,126 |
LCPR Senior Secured Financing DAC | ||
5.13%, 07/15/29 (Call 07/15/24)(c) | USD 75 | 62,591 |
6.75%, 10/15/27 (Call 05/31/24)(c) | USD 115 | 106,378 |
LD Holdings Group LLC | ||
6.13%, 04/01/28 (Call 05/13/24)(c) | USD 50 | 37,688 |
6.50%, 11/01/25 (Call 05/31/24)(c) | USD 50 | 47,416 |
Legacy LifePoint Health LLC, 4.38%, 02/15/27 (Call 05/31/24)(c) | USD 60 | 56,169 |
Level 3 Financing Inc. | ||
3.88%, 10/15/30 (Call 03/22/25)(c) | USD 60 | 33,000 |
4.00%, 04/15/31 (Call 03/22/25)(c) | USD 65 | 35,588 |
4.50%, 04/01/30 (Call 03/22/26)(c) | USD 100 | 57,750 |
4.88%, 06/15/29 (Call 03/22/26)(c) | USD 95 | 59,938 |
10.50%, 04/15/29 (Call 03/22/27)(c) | USD 75 | 74,955 |
10.50%, 05/15/30 (Call 05/15/26)(c) | USD 70 | 70,000 |
10.75%, 12/15/30 (Call 03/22/27)(c)(d) | USD 75 | 75,187 |
11.00%, 11/15/29 (Call 03/22/27)(c) | USD 150 | 153,427 |
Levi Strauss & Co., 3.38%, 03/15/27 (Call 05/10/24) | EUR 100 | 104,659 |
Liberty Mutual Group Inc. | ||
4.13%, 12/15/51 (Call 09/15/26), (5-year CMT + 3.315%)(b)(c) | USD 50 | 45,483 |
4.30%, 02/01/61 (Call 02/01/26)(c)(d) | USD 80 | 49,193 |
Life Time Inc. | ||
5.75%, 01/15/26 (Call 05/31/24)(c) | USD 78 | 77,051 |
8.00%, 04/15/26 (Call 05/31/24)(c) | USD 50 | 50,084 |
Lifepoint Health Inc., 5.38%, 01/15/29 (Call 05/31/24)(c) | USD 45 | 35,974 |
LifePoint Health Inc. | ||
9.88%, 08/15/30 (Call 08/15/26)(c) | USD 90 | 93,634 |
11.00%, 10/15/30 (Call 10/15/26)(c) | USD 100 | 106,500 |
Light & Wonder International Inc. | ||
7.00%, 05/15/28 (Call 05/16/24)(c) | USD 80 | 80,355 |
7.25%, 11/15/29 (Call 11/15/24)(c) | USD 50 | 50,610 |
7.50%, 09/01/31 (Call 09/01/26)(c) | USD 50 | 50,760 |
Lithia Motors Inc. | ||
3.88%, 06/01/29 (Call 06/01/24)(c)(d) | USD 80 | 70,677 |
Security | Par (000 ) | Value |
United States (continued) | ||
4.38%, 01/15/31 (Call 10/15/25)(c) | USD 50 | $43,813 |
4.63%, 12/15/27 (Call 05/31/24)(c) | USD 25 | 23,480 |
Live Nation Entertainment Inc. | ||
3.75%, 01/15/28 (Call 05/31/24)(c) | USD 45 | 40,824 |
4.75%, 10/15/27 (Call 05/31/24)(c)(d) | USD 95 | 89,392 |
6.50%, 05/15/27 (Call 05/31/24)(c) | USD 110 | 110,081 |
Lumen Technologies Inc. | ||
4.13%, 04/15/29 (Call 05/31/24)(c) | USD 53 | 34,133 |
4.13%, 04/15/30 (Call 05/31/24)(c) | USD 53 | 32,805 |
4.50%, 01/15/29 (Call 05/13/24)(c) | USD 80 | 23,600 |
Macy's Retail Holdings LLC | ||
5.88%, 04/01/29 (Call 05/31/24)(c) | USD 40 | 38,564 |
5.88%, 03/15/30 (Call 03/15/25)(c) | USD 40 | 38,100 |
6.13%, 03/15/32 (Call 03/15/27)(c)(d) | USD 45 | 42,561 |
Madison IAQ LLC | ||
4.13%, 06/30/28 (Call 06/30/24)(c) | USD 75 | 69,562 |
5.88%, 06/30/29 (Call 06/30/24)(c) | USD 105 | 96,739 |
Matador Resources Co. | ||
6.50%, 04/15/32 (Call 04/15/27)(c) | USD 80 | 79,403 |
6.88%, 04/15/28 (Call 04/15/25)(c) | USD 45 | 45,317 |
Match Group Holdings II LLC | ||
3.63%, 10/01/31 (Call 10/01/26)(c) | USD 35 | 28,831 |
4.13%, 08/01/30 (Call 05/01/25)(c)(d) | USD 35 | 30,262 |
4.63%, 06/01/28 (Call 05/31/24)(c) | USD 60 | 55,402 |
5.00%, 12/15/27 (Call 05/31/24)(c) | USD 50 | 47,326 |
Mauser Packaging Solutions Holding Co. | ||
7.88%, 04/15/27 (Call 02/15/25)(c) | USD 250 | 254,437 |
9.25%, 04/15/27 (Call 10/15/24)(c)(d) | USD 135 | 132,361 |
McAfee Corp., 7.38%, 02/15/30 (Call 02/15/25)(c)(d) | USD 210 | 193,755 |
McGraw-Hill Education Inc. | ||
5.75%, 08/01/28 (Call 08/01/24)(c) | USD 75 | 69,520 |
8.00%, 08/01/29 (Call 08/01/24)(c)(d) | USD 80 | 73,541 |
Medline Borrower LP | ||
3.88%, 04/01/29 (Call 10/01/24)(c) | USD 430 | 384,738 |
5.25%, 10/01/29 (Call 10/01/24)(c) | USD 240 | 222,585 |
Medline Borrower LP/Medline Co-Issuer Inc., 6.25%, 04/01/29 (Call 04/01/26)(c) | USD 95 | 94,378 |
MGM Resorts International | ||
4.63%, 09/01/26 (Call 06/01/26) | USD 57 | 54,863 |
4.75%, 10/15/28 (Call 07/15/28)(d) | USD 65 | 60,573 |
5.50%, 04/15/27 (Call 01/15/27) | USD 66 | 64,350 |
5.75%, 06/15/25 (Call 03/15/25) | USD 65 | 64,676 |
6.50%, 04/15/32 (Call 04/15/27) | USD 55 | 53,363 |
6.75%, 05/01/25 (Call 05/01/24) | USD 60 | 59,986 |
Michaels Companies Inc. (The) | ||
5.25%, 05/01/28 (Call 05/13/24)(c) | USD 90 | 76,275 |
7.88%, 05/01/29 (Call 05/13/24)(c) | USD 115 | 84,381 |
Midcap Financial Issuer Trust | ||
5.63%, 01/15/30 (Call 01/15/25)(c) | USD 50 | 41,945 |
6.50%, 05/01/28 (Call 05/16/24)(c) | USD 90 | 81,415 |
Miter Brands Acquisition Holdco Inc./MIWD Borrower LLC, 6.75%, 04/01/32 (Call 04/01/27)(c) | USD 75 | 74,363 |
MIWD Holdco II LLC/MIWD Finance Corp., 5.50%, 02/01/30 (Call 02/01/25)(c) | USD 50 | 44,994 |
ModivCare Escrow Issuer Inc., 5.00%, 10/01/29 (Call 10/01/24)(c)(d) | USD 60 | 41,560 |
ModivCare Inc., 5.88%, 11/15/25 (Call 05/31/24)(c)(d) | USD 50 | 48,764 |
Security | Par (000 ) | Value |
United States (continued) | ||
Mohegan Tribal Gaming Authority, 8.00%, 02/01/26 (Call 05/31/24)(c) | USD 125 | $118,754 |
Molina Healthcare Inc. | ||
3.88%, 11/15/30 (Call 08/17/30)(c) | USD 50 | 43,377 |
3.88%, 05/15/32 (Call 02/15/32)(c) | USD 85 | 71,081 |
4.38%, 06/15/28 (Call 05/31/24)(c) | USD 80 | 74,200 |
Moss Creek Resources Holdings Inc. | ||
7.50%, 01/15/26 (Call 05/31/24)(c) | USD 55 | 54,863 |
10.50%, 05/15/27 (Call 05/31/24)(c) | USD 50 | 51,118 |
MPH Acquisition Holdings LLC | ||
5.50%, 09/01/28 (Call 09/01/24)(c) | USD 100 | 81,302 |
5.75%, 11/01/28 (Call 05/31/24)(c)(d) | USD 90 | 65,805 |
MPT Operating Partnership LP/MPT Finance Corp. | ||
3.38%, 04/24/30 (Call 01/24/30) | GBP 125 | 105,032 |
3.50%, 03/15/31 (Call 03/15/26)(d) | USD 110 | 73,153 |
4.63%, 08/01/29 (Call 08/01/24)(d) | USD 100 | 74,315 |
5.00%, 10/15/27 (Call 05/31/24)(d) | USD 135 | 110,700 |
5.25%, 08/01/26 (Call 05/31/24) | USD 50 | 45,475 |
Murphy Oil Corp. | ||
5.88%, 12/01/27 (Call 05/16/24) | USD 45 | 44,522 |
6.38%, 07/15/28 (Call 07/15/24) | USD 36 | 35,876 |
Murphy Oil USA Inc. | ||
3.75%, 02/15/31 (Call 02/15/26)(c) | USD 55 | 47,325 |
4.75%, 09/15/29 (Call 09/15/24)(d) | USD 25 | 23,211 |
Nabors Industries Inc. | ||
7.38%, 05/15/27 (Call 05/31/24)(c) | USD 60 | 59,232 |
9.13%, 01/31/30 (Call 05/31/26)(c) | USD 70 | 71,990 |
Nabors Industries Ltd., 7.25%, 01/15/26 (Call 05/31/24)(c) | USD 60 | 59,591 |
Nationstar Mortgage Holdings Inc. | ||
5.13%, 12/15/30 (Call 12/15/25)(c) | USD 60 | 53,884 |
5.50%, 08/15/28 (Call 05/31/24)(c) | USD 75 | 70,687 |
5.75%, 11/15/31 (Call 11/15/26)(c)(d) | USD 85 | 77,031 |
6.00%, 01/15/27 (Call 05/31/24)(c) | USD 65 | 63,686 |
7.13%, 02/01/32 (Call 02/01/27)(c) | USD 95 | 93,292 |
Navient Corp. | ||
4.88%, 03/15/28 (Call 06/15/27) | USD 55 | 49,548 |
5.00%, 03/15/27 (Call 09/15/26)(d) | USD 60 | 56,546 |
5.50%, 03/15/29 (Call 06/15/28) | USD 65 | 58,103 |
6.75%, 06/25/25 | USD 50 | 49,938 |
6.75%, 06/15/26 | USD 50 | 49,851 |
9.38%, 07/25/30 (Call 10/25/29) | USD 45 | 46,266 |
11.50%, 03/15/31 (Call 03/15/27) | USD 50 | 54,471 |
NCL Corp. Ltd. | ||
5.88%, 03/15/26 (Call 12/15/25)(c) | USD 130 | 127,239 |
5.88%, 02/15/27 (Call 05/13/24)(c) | USD 95 | 93,076 |
7.75%, 02/15/29 (Call 11/15/28)(c)(d) | USD 60 | 61,373 |
8.13%, 01/15/29 (Call 01/15/26)(c) | USD 75 | 78,121 |
8.38%, 02/01/28 (Call 02/01/25)(c) | USD 65 | 67,739 |
NCL Finance Ltd., 6.13%, 03/15/28 (Call 12/15/27)(c)(d) | USD 50 | 48,766 |
NCR Atleos Corp., 9.50%, 04/01/29 (Call 10/01/26)(c) | USD 125 | 132,714 |
NCR Voyix Corp. | ||
5.00%, 10/01/28 (Call 05/31/24)(c) | USD 70 | 64,442 |
5.13%, 04/15/29 (Call 05/31/24)(c) | USD 110 | 101,007 |
5.25%, 10/01/30 (Call 10/01/25)(c) | USD 40 | 35,561 |
Neptune Bidco U.S. Inc., 9.29%, 04/15/29 (Call 10/15/25)(c) | USD 260 | 245,700 |
New Fortress Energy Inc. | ||
6.50%, 09/30/26 (Call 05/31/24)(c)(d) | USD 135 | 129,028 |
Security | Par (000 ) | Value |
United States (continued) | ||
6.75%, 09/15/25 (Call 05/21/24)(c)(d) | USD 82 | $80,931 |
8.75%, 03/15/29 (Call 03/15/26)(c)(d) | USD 70 | 68,316 |
Newell Brands Inc. | ||
4.88%, 06/01/25 (Call 05/01/25) | USD 50 | 49,251 |
5.70%, 04/01/26 (Call 01/01/26) | USD 210 | 206,250 |
6.38%, 09/15/27 (Call 06/15/27)(d) | USD 35 | 34,283 |
6.63%, 09/15/29 (Call 06/15/29)(d) | USD 60 | 58,014 |
Newfold Digital Holdings Group Inc. | ||
6.00%, 02/15/29 (Call 05/31/24)(c) | USD 65 | 48,770 |
11.75%, 10/15/28 (Call 10/15/25)(c) | USD 55 | 58,809 |
News Corp. | ||
3.88%, 05/15/29 (Call 05/15/24)(c)(d) | USD 85 | 76,606 |
5.13%, 02/15/32 (Call 02/15/27)(c) | USD 60 | 54,976 |
Nexstar Media Inc. | ||
4.75%, 11/01/28 (Call 05/13/24)(c)(d) | USD 95 | 84,245 |
5.63%, 07/15/27 (Call 05/13/24)(c) | USD 150 | 140,650 |
NextEra Energy Operating Partners LP | ||
3.88%, 10/15/26 (Call 07/15/26)(c)(d) | USD 50 | 46,624 |
4.50%, 09/15/27 (Call 06/15/27)(c)(d) | USD 35 | 32,594 |
7.25%, 01/15/29 (Call 10/15/28)(c)(d) | USD 75 | 75,757 |
NGL Energy Operating LLC/NGL Energy Finance Corp. | ||
8.13%, 02/15/29 (Call 02/15/26)(c) | USD 80 | 81,118 |
8.38%, 02/15/32 (Call 02/15/27)(c) | USD 115 | 116,581 |
NMG Holding Co. Inc./Neiman Marcus Group LLC, 7.13%, 04/01/26 (Call 05/31/24)(c) | USD 110 | 109,256 |
Nordstrom Inc. | ||
4.25%, 08/01/31 (Call 05/01/31) | USD 40 | 34,500 |
4.38%, 04/01/30 (Call 01/01/30)(d) | USD 55 | 49,080 |
Northern Oil & Gas Inc. | ||
8.13%, 03/01/28 (Call 05/31/24)(c) | USD 50 | 50,696 |
8.75%, 06/15/31 (Call 06/15/26)(c) | USD 65 | 68,412 |
Novelis Corp. | ||
3.25%, 11/15/26 (Call 05/31/24)(c) | USD 65 | 60,775 |
3.88%, 08/15/31 (Call 08/15/26)(c) | USD 70 | 59,251 |
4.75%, 01/30/30 (Call 01/30/25)(c) | USD 145 | 132,086 |
Novelis Sheet Ingot GmbH, 3.38%, 04/15/29 (Call 05/10/24)(a) | EUR 100 | 100,240 |
NRG Energy Inc. | ||
3.38%, 02/15/29 (Call 05/13/24)(c) | USD 35 | 30,661 |
3.63%, 02/15/31 (Call 02/15/26)(c) | USD 105 | 88,617 |
3.88%, 02/15/32 (Call 02/15/27)(c) | USD 61 | 51,329 |
5.25%, 06/15/29 (Call 06/15/24)(c)(d) | USD 65 | 61,344 |
5.75%, 01/15/28 (Call 05/16/24) | USD 55 | 53,977 |
NuStar Logistics LP | ||
5.63%, 04/28/27 (Call 01/28/27) | USD 70 | 68,425 |
5.75%, 10/01/25 (Call 07/01/25) | USD 55 | 54,519 |
6.00%, 06/01/26 (Call 03/01/26) | USD 35 | 34,689 |
6.38%, 10/01/30 (Call 04/01/30) | USD 60 | 59,229 |
Office Properties Income Trust, 3.45%, 10/15/31 (Call 07/15/31) | USD 45 | 18,949 |
OI European Group BV | ||
4.75%, 02/15/30 (Call 11/15/24)(c)(d) | USD 40 | 36,390 |
6.25%, 05/15/28 (Call 05/15/25)(a) | EUR 100 | 110,962 |
Olin Corp. | ||
5.00%, 02/01/30 (Call 05/31/24)(d) | USD 50 | 46,688 |
5.13%, 09/15/27 (Call 05/31/24) | USD 65 | 62,650 |
5.63%, 08/01/29 (Call 08/01/24) | USD 60 | 57,798 |
Olympus Water U.S. Holding Corp. | ||
3.88%, 10/01/28 (Call 10/01/24)(a) | EUR 100 | 98,337 |
4.25%, 10/01/28 (Call 10/01/24)(c) | USD 125 | 112,307 |
Security | Par (000 ) | Value |
United States (continued) | ||
9.75%, 11/15/28 (Call 06/01/25)(c) | USD 200 | $212,193 |
OneMain Finance Corp. | ||
3.50%, 01/15/27 (Call 05/31/24) | USD 75 | 68,969 |
3.88%, 09/15/28 (Call 09/15/24) | USD 60 | 52,763 |
4.00%, 09/15/30 (Call 09/15/25) | USD 75 | 63,016 |
5.38%, 11/15/29 (Call 05/15/29) | USD 95 | 87,875 |
6.63%, 01/15/28 (Call 07/15/27) | USD 75 | 74,727 |
7.13%, 03/15/26 | USD 160 | 161,443 |
7.88%, 03/15/30 (Call 12/15/26) | USD 70 | 71,277 |
9.00%, 01/15/29 (Call 07/15/25) | USD 85 | 89,144 |
Organon & Co./Organon Foreign Debt Co.-Issuer BV | ||
4.13%, 04/30/28 (Call 05/31/24)(c) | USD 200 | 182,250 |
5.13%, 04/30/31 (Call 04/30/26)(c) | USD 200 | 173,000 |
2.88%, 04/30/28 (Call 05/10/24)(a) | EUR 150 | 148,402 |
Outfront Media Capital LLC/Outfront Media Capital Corp. | ||
4.25%, 01/15/29 (Call 05/31/24)(c) | USD 60 | 53,377 |
4.63%, 03/15/30 (Call 03/15/25)(c) | USD 50 | 44,013 |
5.00%, 08/15/27 (Call 05/13/24)(c)(d) | USD 55 | 52,311 |
7.38%, 02/15/31 (Call 11/15/26)(c) | USD 40 | 41,063 |
Owens & Minor Inc. | ||
4.50%, 03/31/29 (Call 05/31/24)(c) | USD 50 | 44,627 |
6.63%, 04/01/30 (Call 04/01/25)(c)(d) | USD 50 | 48,375 |
Owens-Brockway Glass Container Inc. | ||
6.63%, 05/13/27 (Call 05/31/24)(c) | USD 60 | 59,964 |
7.25%, 05/15/31 (Call 05/15/26)(c) | USD 55 | 54,990 |
Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group Issuer LLC, 4.00%, 10/15/27 (Call 05/31/24)(c) | USD 100 | 92,340 |
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., 4.38%, 10/15/28 (Call 10/15/24)(c)(d) | USD 50 | 45,849 |
Panther Escrow Issuer LLC, 7.13%, 06/01/31 (Call 06/01/27)(c) | USD 295 | 296,522 |
Paramount Global | ||
6.25%, 02/28/57 (Call 02/28/27), (3-mo. LIBOR US + 3.899%)(b)(d) | USD 55 | 48,125 |
6.38%, 03/30/62 (Call 03/30/27), (5-year CMT + 3.999%)(b)(d) | USD 95 | 87,808 |
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer | ||
4.88%, 05/15/29 (Call 05/31/24)(c) | USD 70 | 64,080 |
5.88%, 10/01/28 (Call 05/31/24)(c) | USD 75 | 72,225 |
7.50%, 06/01/25 (Call 05/31/24)(c) | USD 60 | 59,976 |
PBF Holding Co. LLC/PBF Finance Corp. | ||
6.00%, 02/15/28 (Call 05/31/24)(d) | USD 70 | 68,184 |
7.88%, 09/15/30 (Call 09/15/26)(c) | USD 50 | 51,356 |
PennyMac Financial Services Inc. | ||
4.25%, 02/15/29 (Call 05/31/24)(c) | USD 75 | 66,607 |
5.38%, 10/15/25 (Call 05/31/24)(c) | USD 50 | 49,262 |
5.75%, 09/15/31 (Call 09/15/26)(c)(d) | USD 45 | 40,815 |
7.88%, 12/15/29 (Call 12/15/26)(c)(d) | USD 65 | 66,420 |
Penske Automotive Group Inc. | ||
3.50%, 09/01/25 (Call 05/13/24) | USD 55 | 53,075 |
3.75%, 06/15/29 (Call 06/15/24) | USD 50 | 43,728 |
Performance Food Group Inc. | ||
4.25%, 08/01/29 (Call 08/01/24)(c) | USD 95 | 85,025 |
5.50%, 10/15/27 (Call 05/31/24)(c) | USD 105 | 101,635 |
Permian Resources Operating LLC | ||
5.88%, 07/01/29 (Call 07/01/24)(c) | USD 70 | 67,914 |
Security | Par (000 ) | Value |
United States (continued) | ||
7.00%, 01/15/32 (Call 01/15/27)(c)(d) | USD 95 | $96,737 |
8.00%, 04/15/27 (Call 05/31/24)(c) | USD 50 | 51,332 |
9.88%, 07/15/31 (Call 07/15/26)(c) | USD 55 | 60,827 |
Perrigo Finance Unlimited Co. | ||
4.38%, 03/15/26 (Call 12/15/25) | USD 80 | 77,137 |
4.65%, 06/15/30 (Call 03/15/30) | USD 60 | 54,842 |
PetSmart Inc./PetSmart Finance Corp. | ||
4.75%, 02/15/28 (Call 05/31/24)(c) | USD 100 | 92,295 |
7.75%, 02/15/29 (Call 05/31/24)(c) | USD 125 | 118,560 |
PG&E Corp. | ||
5.00%, 07/01/28 (Call 05/13/24)(d) | USD 85 | 80,910 |
5.25%, 07/01/30 (Call 07/01/25) | USD 105 | 98,404 |
Pike Corp., 8.63%, 01/31/31 (Call 01/31/27)(c) | USD 80 | 83,780 |
Pilgrim's Pride Corp. | ||
3.50%, 03/01/32 (Call 09/01/26) | USD 75 | 61,872 |
4.25%, 04/15/31 (Call 04/15/26) | USD 90 | 79,322 |
6.25%, 07/01/33 (Call 04/01/33) | USD 100 | 99,172 |
6.88%, 05/15/34 (Call 02/15/34) | USD 50 | 51,751 |
Post Holdings Inc. | ||
4.50%, 09/15/31 (Call 09/15/26)(c) | USD 100 | 87,812 |
4.63%, 04/15/30 (Call 04/15/25)(c) | USD 130 | 117,230 |
5.50%, 12/15/29 (Call 12/15/24)(c) | USD 105 | 99,538 |
5.63%, 01/15/28 (Call 05/16/24)(c) | USD 105 | 102,092 |
6.25%, 02/15/32 (Call 02/15/27)(c)(d) | USD 100 | 98,911 |
PRA Group Inc., 8.38%, 02/01/28 (Call 02/01/25)(c) | USD 40 | 38,994 |
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. | ||
5.63%, 09/01/29 (Call 09/01/24)(c) | USD 65 | 48,471 |
5.88%, 09/01/31 (Call 09/01/26)(c) | USD 75 | 53,698 |
Presidio Holdings Inc. | ||
4.88%, 02/01/27 (Call 05/31/24)(c) | USD 50 | 50,022 |
8.25%, 02/01/28 (Call 05/31/24)(c) | USD 55 | 55,619 |
Prestige Brands Inc. | ||
3.75%, 04/01/31 (Call 04/01/26)(c) | USD 60 | 50,840 |
5.13%, 01/15/28 (Call 05/31/24)(c) | USD 50 | 48,044 |
Prime Security Services Borrower LLC/Prime Finance Inc. | ||
3.38%, 08/31/27 (Call 08/31/26)(c) | USD 80 | 72,810 |
5.75%, 04/15/26(c) | USD 135 | 133,312 |
6.25%, 01/15/28 (Call 05/31/24)(c)(d) | USD 130 | 126,903 |
PTC Inc., 4.00%, 02/15/28 (Call 05/31/24)(c)(d) | USD 25 | 23,156 |
QVC Inc. | ||
4.38%, 09/01/28 (Call 06/01/28)(d) | USD 40 | 30,780 |
4.75%, 02/15/27 (Call 11/15/26)(d) | USD 45 | 39,174 |
Radiate Holdco LLC/Radiate Finance Inc. | ||
4.50%, 09/15/26 (Call 05/31/24)(c) | USD 90 | 68,737 |
6.50%, 09/15/28 (Call 05/31/24)(c) | USD 90 | 37,428 |
Radiology Partners Inc. | ||
8.50%, 01/31/29 (Call 05/31/24), (5.00% Cash and 3.50% PIK)(c)(d)(h) | USD 63 | 57,885 |
9.78%, 02/15/30 (Call 05/31/24), (9.87% PIK)(c)(d)(h) | USD 63 | 49,216 |
Range Resources Corp. | ||
4.75%, 02/15/30 (Call 02/15/25)(c)(d) | USD 35 | 32,156 |
4.88%, 05/15/25 (Call 02/15/25) | USD 70 | 69,304 |
8.25%, 01/15/29 (Call 05/16/24) | USD 55 | 57,224 |
Realogy Group LLC/Realogy Co-Issuer Corp. | ||
5.25%, 04/15/30 (Call 04/15/25)(c)(d) | USD 5 | 3,338 |
5.75%, 01/15/29 (Call 05/16/24)(c) | USD 26 | 18,109 |
Security | Par (000 ) | Value |
United States (continued) | ||
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 05/31/24)(c) | USD 130 | $129,434 |
Resorts World Las Vegas LLC/RWLV Capital Inc. | ||
4.63%, 04/16/29 (Call 01/16/29)(c) | USD 100 | 88,655 |
8.45%, 07/27/30 (Call 05/27/30)(c) | USD 25 | 26,205 |
RHP Hotel Properties LP / RHP Finance Corp., 6.50%, 04/01/32 (Call 04/01/27)(c) | USD 60 | 58,787 |
RHP Hotel Properties LP/RHP Finance Corp. | ||
4.50%, 02/15/29 (Call 05/31/24)(c)(d) | USD 45 | 41,351 |
4.75%, 10/15/27 (Call 05/31/24) | USD 65 | 61,527 |
7.25%, 07/15/28 (Call 07/15/25)(c) | USD 40 | 40,589 |
Rithm Capital Corp., 8.00%, 04/01/29 (Call 04/01/26)(c) | USD 75 | 73,335 |
RLJ Lodging Trust LP | ||
3.75%, 07/01/26 (Call 05/31/24)(c) | USD 50 | 46,851 |
4.00%, 09/15/29 (Call 09/15/24)(c) | USD 40 | 34,464 |
ROBLOX Corp., 3.88%, 05/01/30 (Call 11/01/24)(c)(d) | USD 100 | 86,303 |
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. | ||
2.88%, 10/15/26 (Call 05/31/24)(c) | USD 120 | 110,111 |
3.63%, 03/01/29 (Call 05/31/24)(c) | USD 75 | 65,925 |
3.88%, 03/01/31 (Call 03/01/26)(c)(d) | USD 105 | 89,005 |
4.00%, 10/15/33 (Call 10/15/27)(c) | USD 90 | 73,101 |
Rocket Software Inc., 9.00%, 11/28/28 (Call 05/01/25)(c) | USD 55 | 55,255 |
Rockies Express Pipeline LLC | ||
3.60%, 05/15/25 (Call 04/15/25)(c) | USD 35 | 33,959 |
4.95%, 07/15/29 (Call 04/15/29)(c) | USD 45 | 41,471 |
Sabre GLBL Inc. | ||
8.63%, 06/01/27 (Call 03/01/25)(c) | USD 75 | 66,135 |
11.25%, 12/15/27 (Call 06/15/25)(c) | USD 60 | 55,830 |
SBA Communications Corp. | ||
3.13%, 02/01/29 (Call 05/31/24) | USD 140 | 121,975 |
3.88%, 02/15/27 (Call 05/13/24)(d) | USD 145 | 136,070 |
SCIH Salt Holdings Inc. | ||
4.88%, 05/01/28 (Call 05/31/24)(c) | USD 125 | 116,250 |
6.63%, 05/01/29 (Call 05/31/24)(c)(d) | USD 50 | 45,813 |
SCIL IV LLC/SCIL USA Holdings LLC, 9.50%, 07/15/28 (Call 07/15/25)(a) | EUR 100 | 115,423 |
Scotts Miracle-Gro Co. (The) | ||
4.00%, 04/01/31 (Call 04/01/26)(d) | USD 45 | 37,909 |
4.38%, 02/01/32 (Call 08/01/26) | USD 50 | 42,143 |
4.50%, 10/15/29 (Call 10/15/24) | USD 45 | 40,167 |
Scripps Escrow II Inc., 3.88%, 01/15/29 (Call 05/31/24)(c) | USD 45 | 33,224 |
Scripps Escrow Inc., 5.88%, 07/15/27 (Call 05/31/24)(c)(d) | USD 35 | 27,446 |
Seagate HDD Cayman | ||
4.09%, 06/01/29 (Call 03/01/29) | USD 45 | 40,950 |
4.88%, 06/01/27 (Call 03/01/27) | USD 60 | 57,938 |
8.25%, 12/15/29 (Call 07/15/26)(c)(d) | USD 55 | 58,190 |
8.50%, 07/15/31 (Call 07/15/26)(c)(d) | USD 40 | 42,629 |
9.63%, 12/01/32 (Call 12/01/27)(d) | USD 73 | 81,169 |
Sealed Air Corp. | ||
4.00%, 12/01/27 (Call 09/01/27)(c) | USD 48 | 44,330 |
5.00%, 04/15/29 (Call 04/15/25)(c) | USD 60 | 56,374 |
5.50%, 09/15/25 (Call 06/15/25)(c) | USD 35 | 34,675 |
Sealed Air Corp./Sealed Air Corp. U.S. | ||
6.13%, 02/01/28 (Call 02/01/25)(c)(d) | USD 70 | 69,079 |
Security | Par (000 ) | Value |
United States (continued) | ||
7.25%, 02/15/31 (Call 11/15/26)(c) | USD 50 | $50,857 |
Select Medical Corp., 6.25%, 08/15/26 (Call 05/31/24)(c) | USD 115 | 115,045 |
Sensata Technologies BV | ||
4.00%, 04/15/29 (Call 05/31/24)(c) | USD 95 | 84,968 |
5.00%, 10/01/25(c)(d) | USD 70 | 68,950 |
5.88%, 09/01/30 (Call 09/01/25)(c) | USD 50 | 48,023 |
Sensata Technologies Inc. | ||
3.75%, 02/15/31 (Call 02/15/26)(c) | USD 80 | 67,600 |
4.38%, 02/15/30 (Call 11/15/29)(c) | USD 50 | 44,632 |
Service Corp. International/U.S. | ||
3.38%, 08/15/30 (Call 08/15/25) | USD 75 | 63,563 |
4.00%, 05/15/31 (Call 05/15/26) | USD 80 | 69,028 |
4.63%, 12/15/27 (Call 05/31/24) | USD 65 | 61,921 |
5.13%, 06/01/29 (Call 06/01/24) | USD 75 | 71,734 |
Service Properties Trust | ||
3.95%, 01/15/28 (Call 07/15/27) | USD 40 | 34,064 |
4.38%, 02/15/30 (Call 08/15/29) | USD 35 | 26,670 |
4.75%, 10/01/26 (Call 08/01/26) | USD 50 | 46,394 |
4.95%, 02/15/27 (Call 08/15/26) | USD 45 | 41,474 |
4.95%, 10/01/29 (Call 07/01/29) | USD 35 | 28,637 |
5.50%, 12/15/27 (Call 09/15/27) | USD 40 | 37,639 |
7.50%, 09/15/25 (Call 06/15/25) | USD 75 | 75,557 |
8.63%, 11/15/31 (Call 11/15/26)(c) | USD 95 | 99,568 |
Silgan Holdings Inc., 4.13%, 02/01/28 (Call 05/16/24) | USD 35 | 32,642 |
Sinclair Television Group Inc. | ||
4.13%, 12/01/30 (Call 12/01/25)(c) | USD 80 | 55,000 |
5.50%, 03/01/30 (Call 12/01/24)(c) | USD 40 | 27,700 |
Sirius XM Radio Inc. | ||
3.13%, 09/01/26 (Call 05/31/24)(c) | USD 90 | 83,805 |
3.88%, 09/01/31 (Call 09/01/26)(c)(d) | USD 140 | 112,517 |
4.00%, 07/15/28 (Call 07/15/24)(c) | USD 200 | 178,557 |
4.13%, 07/01/30 (Call 07/01/25)(c) | USD 155 | 131,119 |
5.00%, 08/01/27 (Call 05/31/24)(c) | USD 140 | 132,125 |
5.50%, 07/01/29 (Call 07/01/24)(c) | USD 130 | 120,596 |
Six Flags Entertainment Corp. | ||
5.50%, 04/15/27 (Call 05/31/24)(c)(d) | USD 40 | 38,524 |
7.25%, 05/15/31 (Call 05/15/26)(c) | USD 80 | 79,835 |
Six Flags Entertainment Corp./Six Flags Theme Parks Inc., 6.63%, 05/01/32 (Call 05/01/27)(c) | USD 40 | 39,838 |
SLM Corp. | ||
3.13%, 11/02/26 (Call 10/02/26)(d) | USD 50 | 46,283 |
4.20%, 10/29/25 (Call 09/29/25) | USD 50 | 48,232 |
SM Energy Co. | ||
6.50%, 07/15/28 (Call 07/15/24) | USD 55 | 54,458 |
6.63%, 01/15/27 (Call 05/31/24)(d) | USD 60 | 59,772 |
Smyrna Ready Mix Concrete LLC | ||
6.00%, 11/01/28 (Call 05/31/24)(c) | USD 105 | 101,587 |
8.88%, 11/15/31 (Call 11/15/26)(c) | USD 105 | 110,650 |
Sonic Automotive Inc. | ||
4.63%, 11/15/29 (Call 11/15/24)(c)(d) | USD 40 | 35,800 |
4.88%, 11/15/31 (Call 11/15/26)(c)(d) | USD 52 | 45,355 |
Sotheby's, 7.38%, 10/15/27 (Call 05/13/24)(c) | USD 75 | 69,732 |
Southwestern Energy Co. | ||
4.75%, 02/01/32 (Call 02/01/27)(d) | USD 125 | 112,130 |
5.38%, 02/01/29 (Call 05/16/24) | USD 50 | 47,773 |
5.38%, 03/15/30 (Call 03/15/25) | USD 115 | 109,182 |
Spectrum Brands Inc., 3.88%, 03/15/31 (Call 03/15/26)(c)(d) | USD 30 | 28,019 |
Security | Par (000 ) | Value |
United States (continued) | ||
Spirit AeroSystems Inc. | ||
4.60%, 06/15/28 (Call 03/15/28)(d) | USD 85 | $78,268 |
9.38%, 11/30/29 (Call 11/30/25)(c) | USD 90 | 97,195 |
9.75%, 11/15/30 (Call 11/15/26)(c) | USD 115 | 127,241 |
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. | ||
8.00%, 09/20/25 (Call 05/13/24)(c) | USD 50 | 39,082 |
8.00%, 09/20/25 (Call 05/13/24)(c)(d) | USD 70 | 54,715 |
SRS Distribution Inc. | ||
4.63%, 07/01/28 (Call 07/01/24)(c) | USD 65 | 64,756 |
6.00%, 12/01/29 (Call 12/01/24)(c) | USD 60 | 60,701 |
6.13%, 07/01/29 (Call 07/01/24)(c) | USD 50 | 50,813 |
SS&C Technologies Inc., 5.50%, 09/30/27 (Call 05/31/24)(c)(d) | USD 195 | 189,502 |
Stagwell Global LLC, 5.63%, 08/15/29 (Call 08/15/24)(c) | USD 110 | 98,331 |
Standard Industries Inc./NJ | ||
2.25%, 11/21/26 (Call 08/21/26)(a) | EUR 100 | 100,638 |
3.38%, 01/15/31 (Call 07/15/25)(c)(d) | USD 95 | 78,375 |
4.38%, 07/15/30 (Call 07/15/25)(c) | USD 160 | 141,675 |
4.75%, 01/15/28 (Call 05/31/24)(c) | USD 110 | 103,510 |
5.00%, 02/15/27 (Call 05/31/24)(c) | USD 80 | 77,013 |
Staples Inc. | ||
7.50%, 04/15/26 (Call 05/31/24)(c) | USD 200 | 192,385 |
10.75%, 04/15/27 (Call 05/31/24)(c) | USD 110 | 100,345 |
Star Parent Inc., 9.00%, 10/01/30 (Call 10/01/26)(c)(d) | USD 100 | 104,668 |
Starwood Property Trust Inc. | ||
3.63%, 07/15/26 (Call 01/15/26)(c) | USD 60 | 55,553 |
4.38%, 01/15/27 (Call 07/15/26)(c)(d) | USD 70 | 64,782 |
7.25%, 04/01/29 (Call 10/01/28)(c)(d) | USD 40 | 39,464 |
Station Casinos LLC | ||
4.50%, 02/15/28 (Call 05/31/24)(c) | USD 70 | 64,893 |
4.63%, 12/01/31 (Call 06/01/31)(c)(d) | USD 55 | 48,264 |
6.63%, 03/15/32 (Call 03/15/27)(c)(d) | USD 50 | 48,987 |
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (Call 06/01/26)(c) | USD 65 | 57,675 |
Summit Materials LLC/Summit Materials Finance Corp. | ||
5.25%, 01/15/29 (Call 05/13/24)(c) | USD 70 | 67,286 |
7.25%, 01/15/31 (Call 01/15/27)(c) | USD 80 | 82,139 |
Sunoco LP | ||
7.00%, 05/01/29 (Call 05/01/26)(c) | USD 85 | 86,329 |
7.25%, 05/01/32 (Call 05/01/27)(c) | USD 70 | 71,087 |
Sunoco LP/Sunoco Finance Corp. | ||
4.50%, 05/15/29 (Call 05/16/24) | USD 75 | 68,437 |
4.50%, 04/30/30 (Call 04/30/25) | USD 83 | 74,596 |
5.88%, 03/15/28 (Call 05/31/24) | USD 50 | 48,796 |
6.00%, 04/15/27 (Call 05/31/24) | USD 50 | 49,368 |
7.00%, 09/15/28 (Call 09/15/25)(c) | USD 45 | 45,519 |
Synchrony Financial, 7.25%, 02/02/33 (Call 11/02/32) | USD 85 | 83,157 |
Talen Energy Supply LLC, 8.63%, 06/01/30 (Call 06/01/26)(c) | USD 110 | 116,381 |
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. | ||
5.50%, 01/15/28 (Call 05/31/24)(c) | USD 70 | 66,412 |
6.00%, 03/01/27 (Call 05/31/24)(c) | USD 40 | 38,962 |
6.00%, 12/31/30 (Call 12/31/25)(c) | USD 65 | 61,075 |
6.00%, 09/01/31 (Call 09/01/26)(c) | USD 55 | 50,988 |
7.38%, 02/15/29 (Call 02/15/26)(c) | USD 95 | 94,985 |
Security | Par (000 ) | Value |
United States (continued) | ||
Talos Production Inc. | ||
9.00%, 02/01/29 (Call 02/01/26)(c) | USD 60 | $63,355 |
9.38%, 02/01/31 (Call 02/01/27)(c) | USD 70 | 74,392 |
Taylor Morrison Communities Inc. | ||
5.13%, 08/01/30 (Call 02/01/30)(c)(d) | USD 45 | 41,698 |
5.75%, 01/15/28 (Call 10/15/27)(c) | USD 55 | 53,625 |
5.88%, 06/15/27 (Call 03/15/27)(c) | USD 35 | 34,482 |
TEGNA Inc. | ||
4.63%, 03/15/28 (Call 05/31/24)(d) | USD 100 | 90,805 |
4.75%, 03/15/26 (Call 05/31/24)(c) | USD 55 | 53,099 |
5.00%, 09/15/29 (Call 09/15/24) | USD 105 | 92,556 |
Teleflex Inc., 4.25%, 06/01/28 (Call 05/31/24)(c) | USD 90 | 83,082 |
Tempur Sealy International Inc., 3.88%, 10/15/31 (Call 10/15/26)(c)(d) | USD 125 | 102,730 |
Tenet Healthcare Corp. | ||
4.25%, 06/01/29 (Call 06/01/24) | USD 135 | 123,412 |
4.38%, 01/15/30 (Call 12/01/24) | USD 130 | 118,076 |
4.63%, 06/15/28 (Call 05/16/24) | USD 60 | 56,348 |
5.13%, 11/01/27 (Call 05/16/24)(d) | USD 145 | 140,340 |
6.13%, 10/01/28 (Call 05/31/24)(d) | USD 260 | 256,500 |
6.13%, 06/15/30 (Call 06/15/25) | USD 210 | 206,850 |
6.25%, 02/01/27 (Call 05/16/24) | USD 145 | 144,504 |
6.75%, 05/15/31 (Call 05/15/26)(c) | USD 130 | 130,205 |
Tenneco Inc., 8.00%, 11/17/28 (Call 11/17/24)(c) | USD 175 | 163,120 |
TerraForm Power Operating LLC | ||
4.75%, 01/15/30 (Call 01/15/25)(c) | USD 60 | 53,447 |
5.00%, 01/31/28 (Call 07/31/27)(c) | USD 85 | 79,305 |
TKC Holdings Inc. | ||
6.88%, 05/15/28 (Call 05/31/24)(c)(d) | USD 35 | 32,904 |
10.50%, 05/15/29 (Call 05/31/24)(c) | USD 65 | 62,200 |
TransDigm Inc. | ||
4.63%, 01/15/29 (Call 05/31/24) | USD 125 | 114,531 |
4.88%, 05/01/29 (Call 05/31/24) | USD 75 | 68,988 |
5.50%, 11/15/27 (Call 05/31/24) | USD 270 | 262,237 |
6.38%, 03/01/29 (Call 03/01/26)(c) | USD 235 | 233,058 |
6.63%, 03/01/32 (Call 03/01/27)(c) | USD 205 | 204,785 |
6.75%, 08/15/28 (Call 02/15/25)(c) | USD 195 | 195,786 |
6.88%, 12/15/30 (Call 08/18/26)(c) | USD 150 | 150,838 |
7.13%, 12/01/31 (Call 12/01/26)(c) | USD 95 | 96,573 |
Transocean Inc. | ||
8.25%, 05/15/29 (Call 05/15/26)(c) | USD 75 | 74,625 |
8.50%, 05/15/31 (Call 05/15/27)(c)(d) | USD 80 | 79,400 |
8.75%, 02/15/30 (Call 02/15/26)(c) | USD 108 | 112,540 |
Transocean Poseidon Ltd., 6.88%, 02/01/27 (Call 05/31/24)(c)(d) | USD 47 | 47,073 |
Transocean Titan Financing Ltd., 8.38%, 02/01/28 (Call 02/01/25)(c) | USD 75 | 76,898 |
Travel & Leisure Co. | ||
4.50%, 12/01/29 (Call 09/01/29)(c)(d) | USD 65 | 58,581 |
6.00%, 04/01/27 (Call 01/01/27) | USD 50 | 49,382 |
6.63%, 07/31/26 (Call 04/30/26)(c) | USD 60 | 60,080 |
Triumph Group Inc., 9.00%, 03/15/28 (Call 03/15/25)(c)(d) | USD 99 | 102,490 |
Tronox Inc., 4.63%, 03/15/29 (Call 05/31/24)(c)(d) | USD 105 | 93,374 |
Twilio Inc. | ||
3.63%, 03/15/29 (Call 05/13/24)(d) | USD 65 | 57,583 |
3.88%, 03/15/31 (Call 03/15/26)(d) | USD 50 | 43,286 |
U.S. Foods Inc. | ||
4.63%, 06/01/30 (Call 06/01/25)(c) | USD 55 | 49,893 |
4.75%, 02/15/29 (Call 05/31/24)(c) | USD 90 | 83,804 |
6.88%, 09/15/28 (Call 09/15/25)(c) | USD 45 | 45,483 |
Security | Par (000 ) | Value |
United States (continued) | ||
7.25%, 01/15/32 (Call 09/15/26)(c)(d) | USD 45 | $45,866 |
Uber Technologies Inc. | ||
4.50%, 08/15/29 (Call 08/15/24)(c)(d) | USD 135 | 125,887 |
6.25%, 01/15/28 (Call 05/13/24)(c)(d) | USD 60 | 59,945 |
7.50%, 09/15/27 (Call 05/21/24)(c) | USD 125 | 127,363 |
8.00%, 11/01/26 (Call 05/31/24)(c) | USD 145 | 145,927 |
UGI International LLC, 2.50%, 12/01/29 (Call 12/01/24)(a) | EUR 100 | 96,081 |
UKG Inc., 6.88%, 02/01/31 (Call 02/01/27)(c) | USD 250 | 249,737 |
United Airlines Inc. | ||
4.38%, 04/15/26 (Call 10/15/25)(c) | USD 175 | 168,306 |
4.63%, 04/15/29 (Call 10/15/28)(c) | USD 197 | 181,719 |
United Rentals North America Inc. | ||
3.75%, 01/15/32 (Call 07/15/26) | USD 80 | 67,966 |
3.88%, 11/15/27 (Call 05/13/24) | USD 75 | 69,894 |
3.88%, 02/15/31 (Call 08/15/25) | USD 100 | 87,625 |
4.00%, 07/15/30 (Call 07/15/25)(d) | USD 70 | 62,291 |
4.88%, 01/15/28 (Call 05/13/24) | USD 170 | 162,904 |
5.25%, 01/15/30 (Call 01/15/25)(d) | USD 65 | 62,343 |
5.50%, 05/15/27 (Call 05/31/24) | USD 47 | 46,301 |
6.13%, 03/15/34 (Call 03/15/29)(c) | USD 110 | 107,387 |
United Wholesale Mortgage LLC | ||
5.50%, 11/15/25 (Call 05/31/24)(c) | USD 75 | 73,848 |
5.50%, 04/15/29 (Call 05/13/24)(c) | USD 50 | 46,375 |
5.75%, 06/15/27 (Call 06/15/24)(c) | USD 60 | 57,456 |
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, 6.00%, 01/15/30 (Call 01/15/25)(c) | USD 75 | 58,500 |
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC | ||
4.75%, 04/15/28 (Call 05/13/24)(c) | USD 40 | 35,121 |
6.50%, 02/15/29 (Call 05/13/24)(c) | USD 105 | 84,262 |
10.50%, 02/15/28 (Call 09/15/25)(c) | USD 254 | 263,255 |
Univision Communications Inc. | ||
4.50%, 05/01/29 (Call 05/31/24)(c) | USD 105 | 91,148 |
6.63%, 06/01/27 (Call 05/13/24)(c) | USD 140 | 135,229 |
7.38%, 06/30/30 (Call 06/30/25)(c)(d) | USD 90 | 85,995 |
8.00%, 08/15/28 (Call 08/15/25)(c) | USD 135 | 135,000 |
USA Compression Partners LP / USA Compression Finance Corp., 7.13%, 03/15/29 (Call 03/15/26)(c) | USD 95 | 94,309 |
USA Compression Partners LP/USA Compression Finance Corp., 6.88%, 09/01/27 (Call 05/31/24) | USD 80 | 79,847 |
Valaris Ltd., 8.38%, 04/30/30 (Call 04/30/26)(c) | USD 95 | 97,286 |
Valvoline Inc., 3.63%, 06/15/31 (Call 06/15/26)(c) | USD 50 | 42,000 |
Vector Group Ltd. | ||
5.75%, 02/01/29 (Call 05/31/24)(c)(d) | USD 70 | 63,678 |
10.50%, 11/01/26 (Call 05/31/24)(c)(d) | USD 55 | 55,363 |
Venture Global Calcasieu Pass LLC | ||
3.88%, 11/01/33 (Call 05/01/33)(c) | USD 130 | 106,705 |
6.25%, 01/15/30 (Call 10/15/29)(c) | USD 90 | 88,987 |
3.88%, 08/15/29 (Call 02/15/29)(c) | USD 125 | 110,450 |
4.13%, 08/15/31 (Call 02/15/31)(c) | USD 110 | 95,621 |
Venture Global LNG Inc. | ||
8.13%, 06/01/28 (Call 06/01/25)(c) | USD 230 | 234,672 |
8.38%, 06/01/31 (Call 06/01/26)(c) | USD 215 | 220,644 |
9.50%, 02/01/29 (Call 11/01/28)(c) | USD 290 | 311,234 |
9.88%, 02/01/32 (Call 02/01/27)(c)(d) | USD 200 | 212,940 |
Vericast Corp., 11.00%, 09/15/26 (Call 05/31/24)(c) | USD 121 | 130,075 |
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 05/31/24)(c) | USD 165 | 149,919 |
Security | Par (000 ) | Value |
United States (continued) | ||
Verscend Escrow Corp., 9.75%, 08/15/26 (Call 05/01/24)(c) | USD 65 | $65,143 |
Viasat Inc., 7.50%, 05/30/31 (Call 05/30/26)(c)(d) | USD 70 | 49,529 |
ViaSat Inc. | ||
5.63%, 09/15/25 (Call 05/13/24)(c) | USD 65 | 62,441 |
5.63%, 04/15/27 (Call 05/13/24)(c)(d) | USD 60 | 54,918 |
6.50%, 07/15/28 (Call 05/31/24)(c)(d) | USD 40 | 30,675 |
Viking Cruises Ltd. | ||
5.88%, 09/15/27 (Call 05/31/24)(c) | USD 65 | 62,969 |
7.00%, 02/15/29 (Call 05/31/24)(c) | USD 50 | 49,780 |
9.13%, 07/15/31 (Call 07/15/26)(c) | USD 75 | 80,378 |
Vistra Operations Co. LLC | ||
4.38%, 05/01/29 (Call 05/31/24)(c) | USD 135 | 122,766 |
5.00%, 07/31/27 (Call 05/13/24)(c) | USD 115 | 109,683 |
5.50%, 09/01/26 (Call 05/13/24)(c) | USD 100 | 97,574 |
5.63%, 02/15/27 (Call 05/13/24)(c) | USD 120 | 116,780 |
6.88%, 04/15/32 (Call 04/15/27)(c) | USD 90 | 89,590 |
7.75%, 10/15/31 (Call 10/15/26)(c) | USD 145 | 148,832 |
Vital Energy Inc. | ||
7.88%, 04/15/32 (Call 04/15/27)(c) | USD 90 | 91,354 |
9.75%, 10/15/30 (Call 10/15/26) | USD 55 | 59,904 |
VOC Escrow Ltd., 5.00%, 02/15/28 (Call 05/31/24)(c) | USD 70 | 66,777 |
Vornado Realty LP, 2.15%, 06/01/26 (Call 05/01/26) | USD 25 | 22,697 |
Walgreens Boots Alliance Inc. | ||
2.13%, 11/20/26 (Call 08/20/26) | EUR 100 | 100,773 |
3.20%, 04/15/30 (Call 01/15/30) | USD 50 | 42,812 |
3.45%, 06/01/26 (Call 03/01/26) | USD 125 | 118,210 |
Wand NewCo 3 Inc., 7.63%, 01/30/32 (Call 01/30/27)(c) | USD 115 | 116,998 |
Weatherford International Ltd., 8.63%, 04/30/30 (Call 10/30/24)(c) | USD 150 | 155,306 |
Wesco Aircraft Holdings Inc. | ||
8.50%, 11/15/24 (Call 05/31/24)(c)(e)(f) | USD 74 | 9,879 |
9.00%, 11/15/26 (Call 05/31/24)(c)(d)(e)(f) | USD 89 | 11,882 |
WESCO Distribution Inc. | ||
6.38%, 03/15/29 (Call 03/15/26)(c) | USD 100 | 99,375 |
6.63%, 03/15/32 (Call 03/15/27)(c)(d) | USD 80 | 79,560 |
7.13%, 06/15/25 (Call 05/31/24)(c) | USD 80 | 80,024 |
7.25%, 06/15/28 (Call 05/31/24)(c)(d) | USD 140 | 142,275 |
Western Digital Corp., 4.75%, 02/15/26 (Call 11/15/25) | USD 210 | 204,089 |
Williams Scotsman Inc. | ||
4.63%, 08/15/28 (Call 05/31/24)(c) | USD 40 | 36,951 |
6.13%, 06/15/25 (Call 05/16/24)(c) | USD 55 | 54,794 |
7.38%, 10/01/31 (Call 10/01/26)(c)(d) | USD 45 | 45,989 |
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 05/31/24)(c) | USD 125 | 120,000 |
WMG Acquisition Corp. | ||
2.75%, 07/15/28 (Call 05/30/24)(a) | EUR 100 | 99,593 |
3.00%, 02/15/31 (Call 02/15/26)(c)(d) | USD 65 | 53,911 |
3.75%, 12/01/29 (Call 12/01/24)(c) | USD 55 | 48,400 |
3.88%, 07/15/30 (Call 07/15/25)(c) | USD 55 | 47,948 |
WR Grace Holdings LLC | ||
4.88%, 06/15/27 (Call 05/31/24)(c) | USD 80 | 75,582 |
5.63%, 08/15/29 (Call 08/15/24)(c) | USD 120 | 107,389 |
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 05/15/27 (Call 02/15/27)(c)(d) | USD 100 | 96,573 |
Security | Par (000 ) | Value |
United States (continued) | ||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. | ||
5.13%, 10/01/29 (Call 07/01/29)(c) | USD 75 | $69,503 |
7.13%, 02/15/31 (Call 11/15/30)(c)(d) | USD 80 | 81,062 |
Xerox Holdings Corp. | ||
5.00%, 08/15/25 (Call 07/15/25)(c)(d) | USD 42 | 40,759 |
5.50%, 08/15/28 (Call 07/15/28)(c) | USD 75 | 64,780 |
8.88%, 11/30/29 (Call 11/30/26)(c)(d) | USD 40 | 38,100 |
XHR LP | ||
4.88%, 06/01/29 (Call 06/01/24)(c) | USD 35 | 31,784 |
6.38%, 08/15/25 (Call 05/13/24)(c) | USD 46 | 45,935 |
XPO Inc. | ||
7.13%, 06/01/31 (Call 06/01/26)(c)(d) | USD 45 | 45,225 |
7.13%, 02/01/32 (Call 02/01/27)(c) | USD 50 | 50,171 |
Yum! Brands Inc. | ||
3.63%, 03/15/31 (Call 12/15/30) | USD 95 | 82,111 |
4.63%, 01/31/32 (Call 10/01/26) | USD 105 | 94,477 |
4.75%, 01/15/30 (Call 10/15/29)(c) | USD 75 | 69,982 |
5.38%, 04/01/32 (Call 04/01/27)(d) | USD 95 | 89,644 |
Zayo Group Holdings Inc. | ||
4.00%, 03/01/27 (Call 05/31/24)(c) | USD 130 | 103,666 |
6.13%, 03/01/28 (Call 05/31/24)(c) | USD 110 | 73,287 |
81,893,581 | ||
Total Long-Term Investments — 97.1% (Cost: $133,999,242) | 125,870,733 | |
Shares | ||
Short-Term Securities | ||
Money Market Funds — 14.5% | ||
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.49%(j)(k)(l) | 17,561,905 | 17,567,173 |
Security | Shares | Value |
Money Market Funds (continued) | ||
BlackRock Cash Funds: Treasury, SL Agency Shares, 5.28%(j)(k) | 1,220,000 | $1,220,000 |
Total Short-Term Securities — 14.5% (Cost: $18,780,117) | 18,787,173 | |
Total Investments — 111.6% (Cost: $152,779,359) | 144,657,906 | |
Liabilities in Excess of Other Assets — (11.6)% | (14,997,140 ) | |
Net Assets — 100.0% | $129,660,766 |
(a) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(b) | Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) | All or a portion of this security is on loan. |
(e) | Issuer filed for bankruptcy and/or is in default. |
(f) | Non-income producing security. |
(g) | Perpetual security with no stated maturity date. |
(h) | Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. |
(i) | 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. |
(j) | Affiliate of the Fund. |
(k) | Annualized 7-day yield as of period end. |
(l) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 10/31/23 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 04/30/24 | Shares Held at 04/30/24 | Income | Capital Gain Distributions from Underlying Funds |
BlackRock Cash Funds: Institutional, SL Agency Shares | $15,490,082 | $2,078,922 (a) | $— | $(275 ) | $(1,556 ) | $17,567,173 | 17,561,905 | $38,859 (b) | $— |
BlackRock Cash Funds: Treasury, SL Agency Shares | 710,000 | 510,000 (a) | — | — | — | 1,220,000 | 1,220,000 | 28,091 | — |
$(275 ) | $(1,556 ) | $18,787,173 | $66,950 | $— |
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Level 1 | Level 2 | Level 3 | Total | |
Assets | ||||
Investments | ||||
Long-Term Investments | ||||
Corporate Bonds & Notes | $— | $125,870,733 | $— | $125,870,733 |
Short-Term Securities | ||||
Money Market Funds | 18,787,173 | — | — | 18,787,173 |
$18,787,173 | $125,870,733 | $— | $144,657,906 |
iShares International High Yield Bond ETF | iShares J.P. Morgan EM Corporate Bond ETF | iShares J.P. Morgan EM High Yield Bond ETF | iShares J.P. Morgan EM Local Currency Bond ETF | |
ASSETS | ||||
Investments, at value—unaffiliated(a)(b) | $46,425,681 | $416,011,647 | $375,547,428 | $422,113,726 |
Investments, at value—affiliated(c) | 10,000 | 31,323,981 | 38,201,727 | 960,000 |
Cash | 9,976 | 1,262,681 | 359,822 | 24,764 |
Foreign currency, at value(d) | 1,108,596 | 6,851 | 1,428 | 3,591,516 |
Receivables: | ||||
Investments sold | 972,156 | 6,969,521 | 3,888,982 | 3,954,886 |
Securities lending income—affiliated | — | 13,407 | 20,171 | — |
Capital shares sold | — | — | 145,055 | — |
Dividends— unaffiliated | — | — | — | 1,142 |
Dividends—affiliated | 9 | 10,905 | 8,448 | 4,608 |
Interest— unaffiliated | 702,508 | 5,226,551 | 6,144,785 | 8,460,690 |
Total assets | 49,228,926 | 460,825,544 | 424,317,846 | 439,111,332 |
LIABILITIES | ||||
Collateral on securities loaned, at value | — | 26,313,383 | 34,967,279 | — |
Payables: | ||||
Investments purchased | 1,382,347 | 10,334,761 | 4,577,249 | 5,282,489 |
Deferred foreign capital gain tax | — | — | — | 62,253 |
Foreign taxes | — | — | — | 6,416 |
Investment advisory fees | 15,746 | 174,336 | 155,833 | 108,053 |
Total liabilities | 1,398,093 | 36,822,480 | 39,700,361 | 5,459,211 |
Commitments and contingent liabilities | ||||
NET ASSETS | $47,830,833 | $424,003,064 | $384,617,485 | $433,652,121 |
NET ASSETS CONSIST OF | ||||
Paid-in capital | $56,889,681 | $484,185,359 | $524,784,927 | $572,821,467 |
Accumulated loss | (9,058,848) | (60,182,295) | (140,167,442) | (139,169,346) |
NET ASSETS | $47,830,833 | $424,003,064 | $384,617,485 | $433,652,121 |
NET ASSET VALUE | ||||
Shares outstanding | 1,000,000 | 9,700,000 | 10,450,000 | 12,200,000 |
Net asset value | $47.83 | $43.71 | $36.81 | $35.55 |
Shares authorized | 500 million | 500 million | 500 million | 500 million |
Par value | $0.001 | $0.001 | $0.001 | $0.001 |
(a) Investments, at cost—unaffiliated | $49,384,284 | $442,456,705 | $421,562,414 | $452,942,053 |
(b) Securities loaned, at value | $— | $24,539,674 | $33,394,194 | $— |
(c) Investments, at cost—affiliated | $10,000 | $31,316,342 | $38,187,849 | $960,000 |
(d) Foreign currency, at cost | $1,110,643 | $6,898 | $1,425 | $3,626,615 |
iShares US & Intl High Yield Corp Bond ETF | |
ASSETS | |
Investments, at value—unaffiliated(a)(b) | $125,870,733 |
Investments, at value—affiliated(c) | 18,787,173 |
Cash | 6,357 |
Foreign currency, at value(d) | 841,367 |
Receivables: | |
Investments sold | 1,172,811 |
Securities lending income—affiliated | 6,126 |
Dividends—affiliated | 3,980 |
Interest— unaffiliated | 2,132,308 |
Total assets | 148,820,855 |
LIABILITIES | |
Collateral on securities loaned, at value | 17,571,292 |
Payables: | |
Investments purchased | 1,546,234 |
Investment advisory fees | 42,563 |
Total liabilities | 19,160,089 |
Commitments and contingent liabilities | |
NET ASSETS | $129,660,766 |
NET ASSETS CONSIST OF | |
Paid-in capital | $148,429,079 |
Accumulated loss | (18,768,313) |
NET ASSETS | $129,660,766 |
NET ASSET VALUE | |
Shares outstanding | 3,000,000 |
Net asset value | $43.22 |
Shares authorized | 500 million |
Par value | $0.001 |
(a) Investments, at cost—unaffiliated | $133,999,242 |
(b) Securities loaned, at value | $16,859,481 |
(c) Investments, at cost—affiliated | $18,780,117 |
(d) Foreign currency, at cost | $841,095 |
iShares International High Yield Bond ETF | iShares J.P. Morgan EM Corporate Bond ETF | iShares J.P. Morgan EM High Yield Bond ETF | iShares J.P. Morgan EM Local Currency Bond ETF | |
INVESTMENT INCOME | ||||
Dividends—affiliated | $628 | $59,935 | $56,420 | $58,081 |
Interest—unaffiliated | 1,270,171 | 11,407,832 | 12,289,020 | 16,047,357 |
Securities lending income—affiliated—net | — | 78,802 | 127,034 | — |
Other income—unaffiliated | — | 16,000 | 10,750 | — |
Foreign taxes withheld | — | — | — | (286,854 ) |
Total investment income | 1,270,799 | 11,562,569 | 12,483,224 | 15,818,584 |
EXPENSES | ||||
Investment advisory | 96,135 | 1,030,994 | 848,793 | 696,146 |
Commitment costs | — | — | — | 2,249 |
Interest expense | — | 720 | — | 2,816 |
Total expenses | 96,135 | 1,031,714 | 848,793 | 701,211 |
Net investment income | 1,174,664 | 10,530,855 | 11,634,431 | 15,117,373 |
REALIZED AND UNREALIZED GAIN (LOSS) | ||||
Net realized gain (loss) from: | ||||
Investments—unaffiliated(a) | (501,494 ) | (1,233,410 ) | (2,395,771 ) | (29,831,052 ) |
Investments—affiliated | — | 1,725 | 331 | — |
Forward foreign currency exchange contracts | — | — | — | (3,453 ) |
Foreign currency transactions | 23,217 | — | — | 382,115 |
In-kind redemptions—unaffiliated(b) | — | (432,890 ) | — | 1,508 |
(478,277 ) | (1,664,575 ) | (2,395,440 ) | (29,450,882 ) | |
Net change in unrealized appreciation (depreciation) on: | ||||
Investments—unaffiliated(c) | 2,967,214 | 23,128,525 | 32,471,716 | 32,577,748 |
Investments—affiliated | — | (5,294 ) | (6,245 ) | — |
Foreign currency translations | 4,893 | 36 | 9 | 582,871 |
2,972,107 | 23,123,267 | 32,465,480 | 33,160,619 | |
Net realized and unrealized gain | 2,493,830 | 21,458,692 | 30,070,040 | 3,709,737 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $3,668,494 | $31,989,547 | $41,704,471 | $18,827,110 |
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of | $— | $— | $— | $(13,801 ) |
(b) See Note 2 of the Notes to Financial Statements. | ||||
(c) Net of increase in deferred foreign capital gain tax of | $— | $— | $— | $(50,955 ) |
iShares US & Intl High Yield Corp Bond ETF | |
INVESTMENT INCOME | |
Dividends—affiliated | $28,091 |
Interest—unaffiliated | 3,990,473 |
Securities lending income—affiliated—net | 38,859 |
Other income—unaffiliated | 27,694 |
Foreign taxes withheld | (2,127 ) |
Total investment income | 4,082,990 |
EXPENSES | |
Investment advisory | 253,127 |
Litigation fees | 1,931 |
Total expenses | 255,058 |
Net investment income | 3,827,932 |
REALIZED AND UNREALIZED GAIN (LOSS) | |
Net realized gain (loss) from: | |
Investments—unaffiliated | (320,770 ) |
Investments—affiliated | (275 ) |
Foreign currency transactions | 15,264 |
In-kind redemptions—unaffiliated(a) | (223,752 ) |
(529,533 ) | |
Net change in unrealized appreciation (depreciation) on: | |
Investments—unaffiliated | 7,146,979 |
Investments—affiliated | (1,556 ) |
Foreign currency translations | 5,763 |
7,151,186 | |
Net realized and unrealized gain | 6,621,653 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $10,449,585 |
(a) See Note 2 of the Notes to Financial Statements. |
iShares International High Yield Bond ETF | iShares J.P. Morgan EM Corporate Bond ETF | |||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $1,174,664 | $2,149,647 | $10,530,855 | $17,719,698 |
Net realized loss | (478,277 ) | (1,780,469 ) | (1,664,575 ) | (9,730,848 ) |
Net change in unrealized appreciation (depreciation) | 2,972,107 | 4,743,027 | 23,123,267 | 13,005,619 |
Net increase in net assets resulting from operations | 3,668,494 | 5,112,205 | 31,989,547 | 20,994,469 |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (1,678,258 )(b) | (215,619 ) | (10,767,876 )(b) | (17,634,770 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | — | 9,148,256 | (12,053,593 ) | 125,577,014 |
NET ASSETS | ||||
Total increase in net assets | 1,990,236 | 14,044,842 | 9,168,078 | 128,936,713 |
Beginning of period | 45,840,597 | 31,795,755 | 414,834,986 | 285,898,273 |
End of period | $47,830,833 | $45,840,597 | $424,003,064 | $414,834,986 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
iShares J.P. Morgan EM High Yield Bond ETF | iShares J.P. Morgan EM Local Currency Bond ETF | |||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||||
OPERATIONS | ||||
Net investment income | $11,634,431 | $22,632,495 | $15,117,373 | $32,398,070 |
Net realized loss | (2,395,440 ) | (12,951,790 ) | (29,450,882 ) | (42,150,960 ) |
Net change in unrealized appreciation (depreciation) | 32,465,480 | 23,985,296 | 33,160,619 | 35,916,278 |
Net increase in net assets resulting from operations | 41,704,471 | 33,666,001 | 18,827,110 | 26,163,388 |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||||
Decrease in net assets resulting from distributions to shareholders | (11,439,034 )(b) | (23,258,290 ) | (6,390,267 )(b) | (3,783,011 ) |
CAPITAL SHARE TRANSACTIONS | ||||
Net increase (decrease) in net assets derived from capital share transactions | 47,899,634 | 4,748,155 | (50,084,869 ) | 102,394,288 |
NET ASSETS | ||||
Total increase (decrease) in net assets | 78,165,071 | 15,155,866 | (37,648,026 ) | 124,774,665 |
Beginning of period | 306,452,414 | 291,296,548 | 471,300,147 | 346,525,482 |
End of period | $384,617,485 | $306,452,414 | $433,652,121 | $471,300,147 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
iShares US & Intl High Yield Corp Bond ETF | ||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | |
INCREASE (DECREASE) IN NET ASSETS | ||
OPERATIONS | ||
Net investment income | $3,827,932 | $7,624,237 |
Net realized loss | (529,533 ) | (3,815,859 ) |
Net change in unrealized appreciation (depreciation) | 7,151,186 | 3,535,439 |
Net increase in net assets resulting from operations | 10,449,585 | 7,343,817 |
DISTRIBUTIONS TO SHAREHOLDERS(a) | ||
Decrease in net assets resulting from distributions to shareholders | (3,739,601 )(b) | (7,108,819 ) |
CAPITAL SHARE TRANSACTIONS | ||
Net increase in net assets derived from capital share transactions | 233,826 | 22,404,887 |
NET ASSETS | ||
Total increase in net assets | 6,943,810 | 22,639,885 |
Beginning of period | 122,716,956 | 100,077,071 |
End of period | $129,660,766 | $122,716,956 |
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
iShares International High Yield Bond ETF | ||||||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Year Ended 10/31/22 | Year Ended 10/31/21 | Year Ended 10/31/20 | Year Ended 10/31/19 | |
Net asset value, beginning of period | $45.84 | $39.74 | $54.74 | $51.94 | $51.05 | $50.66 |
Net investment income(a) | 1.17 | 2.07 | 1.38 | 1.44 | 1.42 | 1.51 |
Net realized and unrealized gain (loss)(b) | 2.50 | 4.30 | (14.76 ) | 2.18 | 0.09 | 0.82 |
Net increase (decrease) from investment operations | 3.67 | 6.37 | (13.38 ) | 3.62 | 1.51 | 2.33 |
Distributions(c) | ||||||
From net investment income | (1.68 )(d) | (0.27 ) | (1.56 ) | (0.82 ) | (0.62 ) | (1.94 ) |
Return of capital | — | — | (0.06 ) | — | — | — |
Total distributions | (1.68 ) | (0.27 ) | (1.62 ) | (0.82 ) | (0.62 ) | (1.94 ) |
Net asset value, end of period | $47.83 | $45.84 | $39.74 | $54.74 | $51.94 | $51.05 |
Total Return(e) | ||||||
Based on net asset value | 7.96 %(f) | 16.06 % | (25.15 )% | 6.90 % | 3.00 % | 4.85 % |
Ratios to Average Net Assets(g) | ||||||
Total expenses | 0.40 %(h) | 0.40 % | 0.40 % | 0.40 % | 0.40 % | 0.40 % |
Net investment income | 4.89 %(h) | 4.54 % | 2.92 % | 2.56 % | 2.85 % | 3.03 % |
Supplemental Data | ||||||
Net assets, end of period (000) | $47,831 | $45,841 | $31,796 | $71,161 | $46,750 | $40,838 |
Portfolio turnover rate(i) | 25 % | 33 % | 23 % | 33 % | 46 % | 34 % |
(a) Based on average shares outstanding. | ||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||||
(d) A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. | ||||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||||
(f) Not annualized. | ||||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||||
(h) Annualized. | ||||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares J.P. Morgan EM Corporate Bond ETF | ||||||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Year Ended 10/31/22 | Year Ended 10/31/21 | Year Ended 10/31/20 | Year Ended 10/31/19 | |
Net asset value, beginning of period | $41.48 | $40.27 | $51.32 | $51.13 | $51.29 | $47.68 |
Net investment income(a) | 1.11 | 2.04 | 1.68 | 1.75 | 2.06 | 2.25 |
Net realized and unrealized gain (loss)(b) | 2.25 | 1.21 | (10.93 ) | 0.23 | (0.13 ) | 3.61 |
Net increase (decrease) from investment operations | 3.36 | 3.25 | (9.25 ) | 1.98 | 1.93 | 5.86 |
Distributions from net investment income(c) | (1.13 )(d) | (2.04 ) | (1.80 ) | (1.79 ) | (2.09 ) | (2.25 ) |
Net asset value, end of period | $43.71 | $41.48 | $40.27 | $51.32 | $51.13 | $51.29 |
Total Return(e) | ||||||
Based on net asset value | 8.14 %(f) | 8.06 % | (18.42 )% | 3.88 % | 3.94 % | 12.57 % |
Ratios to Average Net Assets(g) | ||||||
Total expenses | 0.50 %(h) | 0.50 % | 0.50 % | 0.50 % | 0.50 % | 0.50 % |
Net investment income | 5.11 %(h) | 4.76 % | 3.62 % | 3.36 % | 4.08 % | 4.51 % |
Supplemental Data | ||||||
Net assets, end of period (000) | $424,003 | $414,835 | $285,898 | $518,363 | $214,731 | $166,685 |
Portfolio turnover rate(i) | 13 % | 25 % | 18 % | 16 % | 25 % | 21 % |
(a) Based on average shares outstanding. | ||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||||
(d) A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. | ||||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||||
(f) Not annualized. | ||||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||||
(h) Annualized. | ||||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares J.P. Morgan EM High Yield Bond ETF | ||||||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Year Ended 10/31/22 | Year Ended 10/31/21 | Year Ended 10/31/20 | Year Ended 10/31/19 | |
Net asset value, beginning of period | $33.49 | $32.19 | $43.61 | $43.06 | $46.63 | $45.29 |
Net investment income(a) | 1.23 | 2.41 | 2.34 | 2.43 | 2.52 | 2.66 |
Net realized and unrealized gain (loss)(b) | 3.31 | 1.37 | (11.36 ) | 0.68 | (3.54 ) | 1.93 |
Net increase (decrease) from investment operations | 4.54 | 3.78 | (9.02 ) | 3.11 | (1.02 ) | 4.59 |
Distributions from net investment income(c) | (1.22 )(d) | (2.48 ) | (2.40 ) | (2.56 ) | (2.55 ) | (3.25 ) |
Net asset value, end of period | $36.81 | $33.49 | $32.19 | $43.61 | $43.06 | $46.63 |
Total Return(e) | ||||||
Based on net asset value | 13.72 %(f) | 11.82 % | (21.35 )% | 7.16 % | (2.08 )% | 10.51 % |
Ratios to Average Net Assets(g) | ||||||
Total expenses | 0.50 %(h) | 0.50 % | 0.50 % | 0.50 % | 0.50 % | 0.50 % |
Total expenses after fees waived | 0.50 %(h) | 0.50 % | 0.50 % | 0.49 % | 0.48 % | 0.50 % |
Net investment income | 6.85 %(h) | 6.97 % | 6.13 % | 5.40 % | 5.75 % | 5.75 % |
Supplemental Data | ||||||
Net assets, end of period (000) | $384,617 | $306,452 | $291,297 | $475,355 | $303,584 | $333,378 |
Portfolio turnover rate(i) | 13 % | 20 % | 16 % | 23 % | 65 % | 32 % |
(a) Based on average shares outstanding. | ||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||||
(d) A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. | ||||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||||
(f) Not annualized. | ||||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||||
(h) Annualized. | ||||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares J.P. Morgan EM Local Currency Bond ETF | ||||||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Year Ended 10/31/22 | Year Ended 10/31/21 | Year Ended 10/31/20 | Year Ended 10/31/19 | |
Net asset value, beginning of period | $34.65 | $32.09 | $41.73 | $41.68 | $45.43 | $43.24 |
Net investment income(a) | 1.17 | 2.25 | 1.95 | 2.06 | 2.29 | 3.09 |
Net realized and unrealized gain (loss)(b) | 0.22 | 0.61 | (10.06 ) | (2.01 ) | (4.11 ) | 0.59 |
Net increase (decrease) from investment operations | 1.39 | 2.86 | (8.11 ) | 0.05 | (1.82 ) | 3.68 |
Distributions from net investment income(c) | (0.49 )(d) | (0.30 ) | (1.53 ) | — | (1.93 ) | (1.49 ) |
Net asset value, end of period | $35.55 | $34.65 | $32.09 | $41.73 | $41.68 | $45.43 |
Total Return(e) | ||||||
Based on net asset value | 3.96 %(f) | 8.92 % | (20.04 )% | 0.12 % | (4.20 )% | 8.75 % |
Ratios to Average Net Assets(g) | ||||||
Total expenses | 0.30 %(h) | 0.30 % | 0.30 % | 0.30 % | 0.30 % | 0.30 % |
Net investment income | 6.51 %(h) | 6.31 % | 5.37 % | 4.72 % | 5.46 % | 6.95 % |
Supplemental Data | ||||||
Net assets, end of period (000) | $433,652 | $471,300 | $346,525 | $517,427 | $500,100 | $536,078 |
Portfolio turnover rate(i) | 15 % | 45 % | 47 % | 29 % | 43 % | 44 % |
(a) Based on average shares outstanding. | ||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||||
(d) A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. | ||||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||||
(f) Not annualized. | ||||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||||
(h) Annualized. | ||||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares US & Intl High Yield Corp Bond ETF | ||||||
Six Months Ended 04/30/24 (unaudited) | Year Ended 10/31/23 | Year Ended 10/31/22 | Year Ended 10/31/21 | Year Ended 10/31/20 | Year Ended 10/31/19 | |
Net asset value, beginning of period | $40.91 | $40.03 | $49.61 | $47.80 | $48.97 | $48.03 |
Net investment income(a) | 1.30 | 2.47 | 2.02 | 2.09 | 2.21 | 2.42 |
Net realized and unrealized gain (loss)(b) | 2.28 | 0.71 | (9.53 ) | 1.99 | (1.27 ) | 1.17 |
Net increase (decrease) from investment operations | 3.58 | 3.18 | (7.51 ) | 4.08 | 0.94 | 3.59 |
Distributions from net investment income(c) | (1.27 )(d) | (2.30 ) | (2.07 ) | (2.27 ) | (2.11 ) | (2.65 ) |
Net asset value, end of period | $43.22 | $40.91 | $40.03 | $49.61 | $47.80 | $48.97 |
Total Return(e) | ||||||
Based on net asset value | 8.83 %(f) | 7.93 % | (15.46 )% | 8.56 % | 2.04 % | 7.74 % |
Ratios to Average Net Assets(g) | ||||||
Total expenses | 0.40 %(h) | 0.40 % | 0.40 % | 0.40 % | 0.40 % | 0.40 % |
Net investment income | 6.05 %(h) | 5.91 % | 4.48 % | 4.16 % | 4.65 % | 5.02 % |
Supplemental Data | ||||||
Net assets, end of period (000) | $129,661 | $122,717 | $100,077 | $193,464 | $176,851 | $176,300 |
Portfolio turnover rate(i) | 14 % | 19 % | 16 % | 31 % | 33 % | 24 % |
(a) Based on average shares outstanding. | ||||||
(b) The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. | ||||||
(c) Distributions for annual periods determined in accordance with U.S. federal income tax regulations. | ||||||
(d) A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. | ||||||
(e) Where applicable, assumes the reinvestment of distributions. | ||||||
(f) Not annualized. | ||||||
(g) Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. | ||||||
(h) Annualized. | ||||||
(i) Portfolio turnover rate excludes in-kind transactions, if any. |
iShares ETF | Diversification Classification |
International High Yield Bond | Diversified |
J.P. Morgan EM Corporate Bond | Diversified |
J.P. Morgan EM High Yield Bond | Diversified |
J.P. Morgan EM Local Currency Bond | Non-diversified |
US & Intl High Yield Corp Bond | Diversified |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
J.P. Morgan EM Corporate Bond | ||||
Barclays Bank PLC | $5,907,479 | $(5,907,479) | $— | $— |
Barclays Capital, Inc. | 993,216 | (993,216) | — | — |
BMO Capital Markets Corp. | 670,556 | (670,556) | — | — |
BNP Paribas SA | 710,183 | (710,183) | — | — |
BofA Securities, Inc. | 1,322,022 | (1,322,022) | — | — |
Citigroup Global Markets, Inc. | 379,219 | (379,219) | — | — |
HSBC Securities (USA), Inc. | 126,542 | (126,542) | — | — |
J.P. Morgan Securities LLC | 3,455,676 | (3,455,676) | — | — |
Jefferies LLC | 3,197,599 | (3,197,599) | — | — |
Morgan Stanley | 2,532,386 | (2,472,675) | — | 59,711(b) |
Nomura Securities International, Inc. | 991,747 | (991,747) | — | — |
Pershing LLC | 1,126,079 | (1,126,079) | — | — |
UBS Securities LLC | 728,601 | (728,601) | — | — |
Wells Fargo Securities LLC | 2,398,369 | (2,398,369) | — | — |
$24,539,674 | $(24,479,963) | $— | $59,711 |
iShares ETF and Counterparty | Securities Loaned at Value | Cash Collateral Received(a) | Non-Cash Collateral Received, at Fair Value(a) | Net Amount |
J.P. Morgan EM High Yield Bond | ||||
Barclays Bank PLC | $5,114,580 | $(5,114,580) | $— | $— |
Barclays Capital, Inc. | 2,516,833 | (2,516,833) | — | — |
BNP Paribas SA | 2,604,379 | (2,604,379) | — | — |
BofA Securities, Inc. | 1,707,811 | (1,707,811) | — | — |
Goldman Sachs & Co. LLC | 618,683 | (618,683) | — | — |
HSBC Securities (USA), Inc. | 220,959 | (220,959) | — | — |
J.P. Morgan Securities LLC | 9,734,284 | (9,734,284) | — | — |
Jefferies LLC | 1,512,233 | (1,512,233) | — | — |
Morgan Stanley | 2,898,471 | (2,898,471) | — | — |
Nomura Securities International, Inc. | 2,399,464 | (2,399,464) | — | — |
Pershing LLC | 1,641,828 | (1,641,828) | — | — |
Scotia Capital (USA), Inc. | 2,028,638 | (2,028,638) | — | — |
UBS AG | 1,898 | (1,898) | — | — |
UBS Securities LLC | 202,806 | (202,806) | — | — |
Wells Fargo Securities LLC | 191,327 | (191,327) | — | — |
$33,394,194 | $(33,394,194) | $— | $— | |
US & Intl High Yield Corp Bond | ||||
Barclays Bank PLC | $498,925 | $(498,925) | $— | $— |
Barclays Capital, Inc. | 160,475 | (160,475) | — | — |
BMO Capital Markets Corp. | 130,556 | (130,556) | — | — |
BNP Paribas SA | 2,934,052 | (2,934,052) | — | — |
BofA Securities, Inc. | 394,132 | (394,132) | — | — |
Citadel Clearing LLC | 114,225 | (114,225) | — | — |
Citigroup Global Markets, Inc. | 1,790 | (1,790) | — | — |
Deutsche Bank Securities, Inc. | 677,919 | (677,919) | — | — |
Goldman Sachs & Co. LLC | 3,814,307 | (3,814,307) | — | — |
J.P. Morgan Securities LLC | 1,129,478 | (1,129,478) | — | — |
Jefferies LLC | 380,885 | (380,885) | — | — |
Morgan Stanley | 1,089,854 | (1,089,854) | — | — |
Nomura Securities International, Inc. | 156,261 | (156,261) | — | — |
Pershing LLC | 53,350 | (53,350) | — | — |
RBC Capital Markets LLC | 2,063,995 | (2,063,995) | — | — |
Scotia Capital (USA), Inc. | 989,732 | (989,732) | — | — |
State Street Bank & Trust Co. | 1,434,908 | (1,434,908) | — | — |
Toronto-Dominion Bank | 287,984 | (287,984) | — | — |
UBS AG | 16,471 | (16,471) | — | — |
UBS Securities LLC | 207,871 | (207,871) | — | — |
Wells Fargo Bank N.A. | 17,567 | (17,567) | — | — |
Wells Fargo Securities LLC | 304,744 | (304,744) | — | — |
$16,859,481 | $(16,859,481) | $— | $— |
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s Statements of Assets and Liabilities. |
(b) | The market value of the loaned securities is determined as of April 30, 2024. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by a counterparty. |
iShares ETF | Investment Advisory Fees |
International High Yield Bond | 0.40% |
J.P. Morgan EM Corporate Bond | 0.50 |
J.P. Morgan EM High Yield Bond | 0.50 |
J.P. Morgan EM Local Currency Bond | 0.30 |
US & Intl High Yield Corp Bond | 0.40 |
iShares ETF | Amounts |
J.P. Morgan EM Corporate Bond | $20,559 |
J.P. Morgan EM High Yield Bond | 34,601 |
US & Intl High Yield Corp Bond | 11,282 |
iShares ETF | Purchases | Sales |
International High Yield Bond | $11,839,136 | $12,513,642 |
J.P. Morgan EM Corporate Bond | 52,611,516 | 53,902,919 |
J.P. Morgan EM High Yield Bond | 43,583,361 | 44,422,196 |
J.P. Morgan EM Local Currency Bond | 67,482,583 | 81,723,387 |
US & Intl High Yield Corp Bond | 17,173,137 | 17,726,744 |
iShares ETF | In-kind Purchases | In-kind Sales |
J.P. Morgan EM Corporate Bond | $17,060,726 | $28,610,374 |
J.P. Morgan EM High Yield Bond | 46,641,615 | — |
J.P. Morgan EM Local Currency Bond | — | 26,835,744 |
US & Intl High Yield Corp Bond | 8,271,281 | 8,282,513 |
iShares ETF | Non-Expiring Capital Loss Carryforwards |
International High Yield Bond | $(6,322,936 ) |
J.P. Morgan EM Corporate Bond | (31,514,702 ) |
J.P. Morgan EM High Yield Bond | (91,363,810 ) |
J.P. Morgan EM Local Currency Bond | (75,603,562 ) |
US & Intl High Yield Corp Bond | (10,497,599 ) |
iShares ETF | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) |
International High Yield Bond | $49,465,422 | $830,700 | $(3,860,441) | $(3,029,741) |
J.P. Morgan EM Corporate Bond | 476,089,924 | 2,633,903 | (31,388,199) | (28,754,296) |
J.P. Morgan EM High Yield Bond | 462,280,216 | 3,923,262 | (52,454,323) | (48,531,061) |
J.P. Morgan EM Local Currency Bond | 472,099,393 | 8,271,064 | (57,296,731) | (49,025,667) |
US & Intl High Yield Corp Bond | 153,036,337 | 1,474,836 | (9,853,267) | (8,378,431) |
Six Months Ended 04/30/24 | Year Ended 10/31/23 | |||
iShares ETF | Shares | Amount | Shares | Amount |
International High Yield Bond | ||||
Shares sold | — | $— | 400,000 | $18,331,323 |
Shares redeemed | — | — | (200,000 ) | (9,183,067 ) |
— | $— | 200,000 | $9,148,256 | |
J.P. Morgan EM Corporate Bond | ||||
Shares sold | 400,000 | $17,645,599 | 3,700,000 | $159,296,527 |
Shares redeemed | (700,000 ) | (29,699,192 ) | (800,000 ) | (33,719,513 ) |
(300,000 ) | $(12,053,593 ) | 2,900,000 | $125,577,014 | |
J.P. Morgan EM High Yield Bond | ||||
Shares sold | 1,300,000 | $47,899,634 | 750,000 | $26,852,043 |
Shares redeemed | — | — | (650,000 ) | (22,103,888 ) |
1,300,000 | $47,899,634 | 100,000 | $4,748,155 | |
J.P. Morgan EM Local Currency Bond | ||||
Shares sold | 200,000 | $7,259,110 | 6,800,000 | $242,603,715 |
Shares redeemed | (1,600,000 ) | (57,343,979 ) | (4,000,000 ) | (140,209,427 ) |
(1,400,000 ) | $(50,084,869 ) | 2,800,000 | $102,394,288 | |
US & Intl High Yield Corp Bond | ||||
Shares sold | 200,000 | $8,700,368 | 1,600,000 | $68,162,901 |
Shares redeemed | (200,000 ) | (8,466,542 ) | (1,100,000 ) | (45,758,014 ) |
— | $233,826 | 500,000 | $22,404,887 |
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Currency Abbreviation | |
BRL | Brazilian Real |
CAD | Canadian Dollar |
CLP | Chilean Peso |
CNY | Chinese Yuan |
COP | Colombian Peso |
CZK | Czech Koruna |
DOP | Dominican Peso |
EUR | Euro |
GBP | British Pound |
HUF | Hungarian Forint |
IDR | Indonesian Rupiah |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
PEN | Peru Nuevo Sol |
PLN | Polish Zloty |
RON | Romanian Leu |
RSD | Serbian Dinar |
THB | Thai Baht |
TRY | Turkish Lira |
USD | United States Dollar |
UYU | Uruguayan Peso |
ZAR | South African Rand |
Portfolio Abbreviation | |
CAB | Capital Appreciation Bonds |
CJSC | Closed Joint Stock Company |
CMT | Constant Maturity Treasury |
EURIBOR | Euro Interbank Offered Rate |
JSC | Joint Stock Company |
LIBOR | London Interbank Offered Rate |
PIK | Payment-in-kind |
PJSC | Public Joint Stock Company |
REIT | Real Estate Investment Trust |
SOFR | Secured Overnight Financing Rate |
![](https://capedge.com/proxy/N-CSRS/0001193125-24-174808/g814077imgcd5f198b4.gif)
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(b) Not Applicable
Item 2. | Code of Ethics. |
Not applicable to this semi-annual report.
Item 3. | Audit Committee Financial Expert. |
Not applicable to this semi-annual report.
Item 4. | Principal Accountant Fees and Services. |
Not applicable to this semi-annual report.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable to this semi-annual report.
Item 6. | Investments. |
(a) Schedules of investments are included as part of the reports to shareholders filed under Item 1 of this Form.
(b) Not applicable.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable to the registrant.
Item 10. | Submission of Matters to a Vote of Security Holders. |
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board of Directors.
Item 11. | Controls and Procedures. |
(a) The President (the registrant’s Principal Executive Officer) and Treasurer and Chief Financial Officer (the registrant’s Principal Financial Officer) have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 13a-15(b) or 15d-15(b) under the Exchange Act of 1934.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable to the registrant.
Item 13. | Recovery of Erroneously Awarded Compensation. |
Not applicable
Item 14. | Exhibits. |
(a)(1) Code of Ethics – See Item 2
(a)(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the Registrant’s securities are listed – Not Applicable
(a)(3) Section 302 Certifications are attached
(a)(4) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable
(a)(5) Change in Registrant’s independent public accountant – Not Applicable
(b) Section 906 Certifications are attached
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
iShares, Inc.
By: | /s/ Jessica Tan | |||
Jessica Tan, President (Principal Executive Officer) |
Date: June 24, 2024
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Jessica Tan | |||
Jessica Tan, President (Principal Executive Officer) |
Date: June 24, 2024
By: | /s/ Trent Walker | |||
Trent Walker, Treasurer and Chief Financial Officer (Principal Financial Officer) |
Date: June 24, 2024