BlackRock Credit Allocation Income Trust


Security	Par (000)			Value

Asset-Backed Securities — 7.5%

Asset-Backed Securities — 7.5%
Allegro CLO II-S Ltd., Series 2014-1RA, Class B, 4.43%, 10/21/28^(a)(b)		USD	500	$	495,407
Allegro CLO VI Ltd., Series 2017-2A^(a)(b):
Class B, 3.80%, 01/17/31			360		352,107
Class C, 4.10%, 01/17/31			2,400		2,327,483
Class D, 5.05%, 01/17/31			1,300		1,238,710
ALM VI Ltd., Series 2012-6A, Class BR3, 4.05%, 07/15/26^(a)(c)			1,500		1,481,605
ALM VII R Ltd., Series 2013-7R2A^(a)(b):
Class A2R2, 3.95%, 10/15/27			750		745,294
Class BR2, 4.50%, 10/15/27			400		395,922
ALM XVI Ltd./ALM XVI LLC, Series 2015-16A^(a)(b):
Class BR2, 4.20%, 07/15/27			1,000		985,313
Class CR2, 5.00%, 07/15/27			1,000		990,804
AMMC CLO Ltd., Series 2018-22A, Class D, 4.98%, 04/25/31^(a)(b)			1,000		951,430
AMMC CLO XII Ltd., Series 2013-12A, Class CR, 4.45%, 11/10/30^(a)(b)			1,500		1,443,469
Anchorage Capital CLO Ltd.^(a):
Series 2013-1A, Class BR, 4.45%, 10/13/30^(b)			1,000		989,286
Series 2014-3RA, Class C, 4.11%, 01/28/31^(c)			1,000		963,527
Series 2014-3RA, Class D, 4.86%, 01/28/31^(b)			1,000		944,534
Series 2015-7A, Class CR, 4.00%, 10/15/27^(b)			1,750		1,729,998
Apidos CLO XV, Series 2013-15A^(a)(b):
Class CRR, 4.13%, 04/20/31			1,000		967,301
Class DRR, 4.98%, 04/20/31			1,000		950,835
Apidos CLO XX, Series 2015-20A, Class BRR, 4.27%, 07/16/31^(a)(b)			1,000		971,773
Ares CLO Ltd., Series 2015-4A^(a)(b):
Class A3R, 3.80%, 10/15/30			1,000		982,301
Class BR, 4.10%, 10/15/30			1,750		1,692,154
Ares XLIX CLO Ltd., Series 2018-49A, Class D, 5.28%, 07/22/30^(a)(b)			1,000		970,668
Ares XLVII CLO Ltd.^(a)(b):
Series 2018-47A, Class D, 5.00%, 04/15/30			1,500		1,428,716
Series 2018-48A, Class C, 4.08%, 07/20/30			500		482,769
Ares XXXVR CLO Ltd., Series 2015-35RA, Class D, 5.30%, 07/15/30^(a)(b)			1,000		970,139
Atlas Senior Loan Fund VII Ltd., Series 2016-7A^(a)(b):
Class A1R, 3.80%, 11/27/31			2,000		1,992,218
Class B1R, 4.32%, 11/27/31			550		544,775


Security	Par (000)			Value

Asset-Backed Securities (continued)
Atlas Senior Loan Fund X Ltd., Series 2018-10A^(a)(b):
Class B, 3.80%, 01/15/31		USD	500	$	488,618
Class C, 4.15%, 01/15/31			1,000		961,592
Class D, 5.05%, 01/15/31			1,700		1,582,746
Atlas Senior Loan Fund XII Ltd., Series 2018-12A, Class A1, 3.46%, 10/24/31^(a)(b)			400		396,821
Atrium XV, Series 15A, Class C, 4.46%, 01/23/31^(a)(b)			250		245,638
Benefit Street Partners CLO XII Ltd., Series 2017-12A^(a):
Class B, 4.30%, 10/15/30			1,000		971,315
Class C, 5.35%, 10/15/30			2,000		1,959,273
Bowman Park CLO Ltd., Series 2014-1A, Class D2R, (3 mo. LIBOR US + 3.35%), 5.87%, 11/23/25^(a)(c)			1,000		1,000,162
Carlyle Global Market Strategies CLO Ltd.^(a):
Series 2013-4A, Class DRR, 4.95%, 01/15/31^(b)			1,000		955,013
Series 2014-5A, Class A1RR, 3.44%, 07/15/31^(b)			2,300		2,291,897
Series 2016-3A, Class C, (3 mo. LIBOR US + 4.00%), 6.28%, 10/20/29^(c)			1,000		999,277
Carlyle US CLO Ltd.^(a):
Series 2016-4A, Class BR, 4.38%, 10/20/27^(b)			250		248,229
Series 2017-2A, Class C, (3 mo. LIBOR US + 3.70%), 5.98%, 07/20/31^(c)			500		497,252
Cedar Funding VI CLO Ltd., Series 2016-6A, Class BR, 3.88%, 10/20/28^(a)(b)			250		246,589
Cent CLO Ltd., Series C17A^(a)(b):
Class BR, 4.12%, 04/30/31			1,000		966,676
Class CR, 5.07%, 04/30/31			1,000		958,306
CIFC Funding Ltd.^(a):
4.95%, 04/18/31			1,200		1,140,483
Series 2013-2A, Class A3LR, 4.25%, 10/18/30^(b)			1,000		975,484
Series 2013-2A, Class B1LR, 5.35%, 10/18/30^(b)			1,000		964,629
Series 2014-4RA, Class A2, 3.95%, 10/17/30^(b)			600		594,740
Series 2014-4RA, Class B, 4.50%, 10/17/30^(b)			400		396,470
Series 2014-4RA, Class C, 5.50%, 10/17/30^(b)			400		393,373
Series 2018-1A, Class C, 4.05%, 04/18/31			1,000		957,056


Security	Par (000)			Value

Asset-Backed Securities (continued)
Elevation CLO Ltd., Series 2017-7A, Class C, 4.20%, 07/15/30^(a)(b)		USD	1,500	$	1,452,406
Galaxy XX CLO Ltd., Series 2015-20A, Class D1R, 4.88%, 04/20/31^(a)(b)			1,000		947,221
Greenwood Park CLO Ltd., Series 2018-1A, Class D, 5.02%, 04/15/31^(a)			1,000		940,625
Highbridge Loan Management Ltd.^(a):
Series 12A-18, Class B, 4.15%, 07/18/31^(b)			1,250		1,208,899
Series 4A-2014, Class A2R, 3.76%, 01/28/30^(b)			650		641,478
Series 4A-2014, Class BR, 4.11%, 01/28/30^(c)			750		724,266
Series 6A-2015, Class BR, 4.32%, 02/05/31^(b)			1,500		1,434,394
Series 7A-2015, Class CR, 4.22%, 03/15/27^(b)			2,000		1,972,058
Series 7A-2015, Class DR, 4.92%, 03/15/27^(b)			1,000		971,598
Series 8A-2016, Class DR, 5.18%, 07/20/30^(b)			500		479,875
Limerock CLO III LLC, Series 2014-3A, Class C, (3 mo. LIBOR US + 3.60%), 5.88%, 10/20/26^(a)(c)			1,000		969,521
Long Point Park CLO Ltd., Series 2017-1A, Class B, 4.00%, 01/17/30^(a)(b)			1,000		960,407
Madison Park Funding XIII Ltd., Series 2014-13A, Class CR2, 4.20%, 04/19/30^(a)(b)			1,000		980,152
Madison Park Funding XV Ltd., Series 2014-15A, Class B1R, (3 mo. LIBOR US + 2.20%), 4.46%, 01/27/26^(a)(c)			2,000		2,002,633
Madison Park Funding XXVII Ltd., Series 2018-27A^(a)(b):
Class B, 4.08%, 04/20/30			1,000		964,474
Class C, 4.88%, 04/20/30			1,000		947,605
Madison Park Funding XXX Ltd., Series 2018-30A, Class D, 4.80%, 04/15/29^(a)(b)			1,000		966,830
Marble Point CLO XI Ltd., Series 2017-2A, Class B, 3.80%, 12/18/30^(a)(b)			1,000		976,434
MP CLO III Ltd., Series 2013-1A, Class CR, 4.28%, 10/20/30^(a)(b)			1,000		975,606
Neuberger Berman CLO XV Ltd., Series 2013-15A, Class CR, 4.35%, 10/15/29^(a)(b)			1,000		974,197
Neuberger Berman CLO XXI Ltd., Series 2016-21A^(a)(b):
Class CR, 3.88%, 04/20/27			1,000		965,858
Class DR, 4.68%, 04/20/27			1,000		973,587


Security	Par (000)			Value

Asset-Backed Securities (continued)
Neuberger Berman CLO XXII Ltd., Series 2016-22A^(a)(b):
Class BR, 3.95%, 10/17/30		USD	400	$	395,931
Class CR, 4.50%, 10/17/30			1,000		985,089
Neuberger Berman Loan Advisers CLO Ltd.^(a)(b):
Series 2017-26A, Class A, 3.47%, 10/18/30			2,000		1,996,553
Series 2017-26A, Class B, 3.80%, 10/18/30			1,000		986,380
Series 2017-26A, Class C, 4.05%, 10/18/30			1,500		1,436,023
Series 2018-27A, Class D, 4.90%, 01/15/30			1,000		947,782
Oak Hill Credit Partners X-R Ltd., Series 2014-10RA, Class C, 4.48%, 12/12/30^(a)(b)			300		292,416
Oak Hill Credit Partners XII Ltd., Series 2015-12A, Class DR, 5.16%, 07/23/30^(a)(b)			600		576,493
OCP CLO Ltd.^(a):
Series 2016-11A, Class BR, (3 mo. LIBOR US + 2.45%), 4.72%, 10/26/30^(c)			1,500		1,487,159
Series 2017-14A, Class B, 4.47%, 11/20/30^(b)			1,000		974,146
Octagon Investment Partners Ltd.^(a)(b):
Series 2016-1A, Class DR, 5.15%, 07/15/30			500		478,379
Series 2017-1A, Class B1, 3.68%, 01/20/30			1,000		977,077
Series 2017-1A, Class C, 5.03%, 01/20/31			1,000		956,393
Octagon Investment Partners XIV Ltd., Series 2012-1A, Class A1AR, 3.47%, 07/15/29^(a)			1,000		999,140
Octagon Investment Partners XVII Ltd., Series 2013-1A^(a)(b):
Class BR2, 3.68%, 01/25/31			1,000		977,304
Class CR2, 3.98%, 01/25/31			1,000		955,738
Octagon Investment Partners XXII Ltd., Series 2014-1A, Class CRR, 4.18%, 01/22/30^(a)(b)			900		870,503
OHA Credit Partners XIV Ltd., Series 2017-14A, Class C, 4.08%, 01/21/30^(a)(b)			1,250		1,202,608
OZLM Funding IV Ltd., Series 2013-4A, Class BR, 4.48%, 10/22/30^(a)(b)			1,000		968,884
OZLM VI Ltd., Series 2014-6A, Class CS, 5.43%, 04/17/31^(a)(b)			500		476,911
OZLM XIX Ltd., Series 2017-19A, Class C, 5.40%, 11/22/30^(a)(b)			1,000		965,354


Security	Par (000)			Value

Asset-Backed Securities (continued)
OZLM XXI Ltd., Series 2017-21A, Class B, 4.18%, 01/20/31^(a)(b)		USD	1,800	$	1,743,639
Palmer Square CLO Ltd.^(a):
Series 2013-2A, Class A2RR, 4.05%, 10/17/31^(b)			650		644,128
Series 2013-2A, Class BRR, 4.50%, 10/17/31^(b)			750		733,683
Series 2013-2A, Class CRR, 5.50%, 10/17/31^(b)			250		244,571
Series 2018-1A, Class A2, 3.75%, 04/18/31			1,500		1,462,633
Park Avenue Institutional Advisers CLO Ltd., Series 2019-1A, Class C, 6.41%, 05/15/32^(a)(b)			1,500		1,490,576
Recette CLO Ltd., Series 2015-1A^(a)(b):
Class CR, 3.98%, 10/20/27			1,500		1,487,934
Class DR, 5.03%, 10/20/27			1,000		991,972
Regatta VII Funding Ltd., Series 2016-1A, Class DR, 5.14%, 12/20/28^(a)(b)			500		484,406
Rockford Tower CLO Ltd., Series 2017-3A^(a)(b):
Class A, 3.47%, 10/20/30			2,000		1,996,693
Class D, 4.93%, 10/20/30			1,000		968,333
Sound Point CLO XXI Ltd., Series 2018-3A, Class A1A, 3.45%, 10/26/31^(a)(b)			1,400		1,388,974
Stewart Park CLO Ltd., Series 2015-1A, Class DR, 4.90%, 01/15/30^(a)(b)			1,500		1,412,604
Tiaa CLO III Ltd., Series 2017-2A, Class A, 3.47%, 01/16/31^(a)(b)			2,500		2,476,344
Voya CLO Ltd., Series 2018-1A, Class C, 4.90%, 04/19/31^(a)(b)			1,000		942,735
York CLO Ltd.^(a)(b):
Series 2014-1A, Class ARR, 3.40%, 10/22/29			2,000		1,985,757
Series 2015-1A, Class CR, 4.13%, 01/22/31			1,500		1,453,031
Series 2015-1A, Class DR, 4.88%, 01/22/31			1,800		1,702,344


Total Asset-Backed Securities — 7.5% (Cost — $118,198,311)					115,126,921


Corporate Bonds — 105.6%

Aerospace & Defense — 2.2%
Arconic, Inc.:
5.40%, 04/15/21			46		47,670
5.13%, 10/01/24			2,411		2,570,825
BBA US Holdings, Inc., 5.38%, 05/01/26^(a)			672		703,920


Security	Par (000)			Value

Aerospace & Defense (continued)
Bombardier, Inc.^(a):
8.75%, 12/01/21		USD	1,601	$	1,745,090
5.75%, 03/15/22			280		285,950
6.00%, 10/15/22			5		4,994
6.13%, 01/15/23			52		52,780
7.50%, 12/01/24			1,190		1,226,831
7.50%, 03/15/25			1,875		1,906,641
7.88%, 04/15/27			3,581		3,625,762
TransDigm UK Holdings PLC, 6.88%, 05/15/26			399		406,980
TransDigm, Inc.:
6.00%, 07/15/22			1,904		1,923,611
6.50%, 05/15/25			291		299,730
6.25%, 03/15/26^(a)(d)			15,004		15,735,445
United Technologies Corp., 4.63%, 11/16/48			2,805		3,321,843

					33,858,072

Air Freight & Logistics — 0.0%
XPO Logistics, Inc., 6.75%, 08/15/24^(a)			43		45,836


Airlines — 0.9%
American Airlines Group, Inc.:
4.63%, 03/01/20^(a)			692		696,325
5.18%, 08/15/23^(e)			2,675		2,722,410
5.18%, 10/15/23^(e)			2,581		2,625,925
Delta Air Lines Pass-Through Trust, Series 2002-1, Class G-1, 6.72%, 07/02/24			2,391		2,545,679
Turkish Airlines Pass-Through Trust, Series 2015-1 Class A, 4.20%, 09/15/28^(a)			2,313		2,150,945
United Airlines Pass-Through Trust, Series 2014-1, Class B, 4.75%, 10/11/23^(d)			2,665		2,740,125

					13,481,409

Auto Components — 0.6%
Allison Transmission, Inc.^(a):
5.00%, 10/01/24			68		69,085
5.88%, 06/01/29			803		853,187
Goodyear Tire & Rubber Co., 5.00%, 05/31/26			535		533,743
Icahn Enterprises LP/Icahn Enterprises Finance Corp.:
6.38%, 12/15/25			388		405,460
6.25%, 05/15/26^(a)			765		789,863
Panther BF Aggregator 2 LP/Panther Finance Co., Inc.^(a):
6.25%, 05/15/26			3,373		3,490,043
8.50%, 05/15/27			2,718		2,762,167


Security	Par (000)			Value

Auto Components (continued)
Tesla, Inc., 5.30%, 08/15/25^(a)		USD	384	$	337,440

					9,240,988

Automobiles — 0.7%
Ford Motor Co., 7.45%, 07/16/31^(d)			3,660		4,327,997
General Motors Co.:
4.88%, 10/02/23			1,875		1,996,246
6.25%, 10/02/43			940		1,018,123
5.95%, 04/01/49			3,455		3,691,792

					11,034,158

Banks — 5.8%
Barclays PLC:
4.84%, 05/09/28			4,000		4,068,865
4.97%, 05/16/29^(b)(d)			3,220		3,420,614
CIT Group, Inc.:
5.00%, 08/01/23			370		396,362
5.25%, 03/07/25			925		1,014,031
Cooperatieve Rabobank UA, 3.95%, 11/09/22^(d)			3,775		3,913,898
Credit Suisse Group AG, 6.50%, 08/08/23^(a)(d)			6,000		6,629,832
Discover Bank/Greenwood, 8.70%, 11/18/19			748		760,855
Fifth Third Bancorp(3 mo. LIBOR US + 3.03%), 5.10%^(f)(g)			5,000		4,954,800
HSBC Finance Corp., 6.68%, 01/15/21^(d)			5,150		5,418,692
Intesa Sanpaolo SpA, 5.71%, 01/15/26^(a)			9,840		10,141,966
Lloyds Banking Group PLC^(d):
4.45%, 05/08/25			3,665		3,879,615
4.65%, 03/24/26			8,650		8,992,613
RBC USA Holdco Corp., 5.25%, 09/15/20			2,900		2,993,641
Santander Holdings USA, Inc., 4.40%, 07/13/27			830		877,851
SunTrust Banks, Inc.(3 mo. LIBOR US + 3.10%), 5.05%^(f)(g)			5,270		5,296,350
Wells Fargo & Co.^(d):
4.13%, 08/15/23			4,000		4,215,930
4.10%, 06/03/26			15,000		15,883,072
5.61%, 01/15/44			4,119		5,210,928

					88,069,915

Beverages — 1.4%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 02/01/46^(d)			6,170		7,006,542
Anheuser-Busch InBev Worldwide, Inc., 5.55%, 01/23/49			5,000		6,207,018


Security	Par (000)			Value

Beverages (continued)
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.13%, 08/15/26^(a)(h)		USD	605	$	605,756
Keurig Dr. Pepper, Inc., 4.60%, 05/25/28			3,215		3,524,047
Trivium Packaging Finance BV^(a)(h):
5.50%, 08/15/26			2,528		2,607,000
8.50%, 08/15/27			1,755		1,852,034

					21,802,397

Biotechnology — 1.0%
Amgen, Inc., 4.66%, 06/15/51^(d)			6,709		7,411,616
Baxalta, Inc., 5.25%, 06/23/45^(d)			6,000		7,415,008

					14,826,624

Building Materials — 0.2%
Allied Universal HoldCo LLC, 6.63%, 07/15/26^(a)			2,239		2,339,755


Building Products — 0.3%
Masonite International Corp.^(a):
5.63%, 03/15/23			488		501,176
5.75%, 09/15/26			282		293,985
5.38%, 02/01/28			379		388,775
Standard Industries, Inc.^(a):
5.50%, 02/15/23			335		342,956
5.38%, 11/15/24			410		420,246
6.00%, 10/15/25			1,965		2,065,706

					4,012,844

Cable Television Services — 0.1%
ViaSat, Inc., 5.63%, 04/15/27^(a)			1,250		1,310,547


Capital Markets — 2.0%
Goldman Sachs Group, Inc.:
5.25%, 07/27/21			1,175		1,236,982
5.75%, 01/24/22^(d)			5,500		5,923,073
Lions Gate Capital Holdings LLC, 6.38%, 02/01/24^(a)			253		266,915
Morgan Stanley^(d):
5.63%, 09/23/19			6,770		6,799,428
5.00%, 11/24/25			15,000		16,576,564

					30,802,962

Chemicals — 2.0%
Axalta Coating Systems LLC, 4.88%, 08/15/24^(a)			715		736,450
Chemours Co., 6.63%, 05/15/23			569		571,492
Dow Chemical Co., 5.55%, 11/30/48^(a)			4,820		5,706,477
DuPont de Nemours, Inc., 5.42%, 11/15/48			7,500		9,077,131
Element Solutions, Inc., 5.88%, 12/01/25^(a)			2,862		2,912,085


Security	Par (000)			Value

Chemicals (continued)
GCP Applied Technologies, Inc., 5.50%, 04/15/26^(a)		USD	448	$	459,200
LYB Finance Co. BV, 8.10%, 03/15/27^(a)(d)			6,000		7,615,815
NOVA Chemicals Corp., 4.88%, 06/01/24^(a)			240		247,248
PQ Corp., 6.75%, 11/15/22^(a)			935		966,556
WR Grace & Co-Conn, 5.63%, 10/01/24^(a)			1,660		1,792,800

					30,085,254

Commercial Services & Supplies — 3.0%
ADT Security Corp.:
3.50%, 07/15/22			32		31,800
4.13%, 06/15/23			251		252,255
4.88%, 07/15/32^(a)			938		816,060
Aviation Capital Group LLC^(a):
6.75%, 04/06/21			7,850		8,369,991
7.13%, 10/15/20^(d)			31,000		32,616,141
Core & Main LP, 6.13%, 08/15/25^(a)			969		998,070
KAR Auction Services, Inc., 5.13%, 06/01/25^(a)			446		459,380
Stericycle, Inc., 5.38%, 07/15/24^(a)			398		415,647
United Rentals North America, Inc.:
4.63%, 10/15/25			1,034		1,049,510
4.88%, 01/15/28			877		894,443

					45,903,297

Communications Equipment — 0.4%
CommScope, Inc.^(a):
5.50%, 03/01/24			2,175		2,202,187
6.00%, 03/01/26			1,107		1,119,122
Zayo Group LLC/Zayo Capital, Inc.:
6.38%, 05/15/25			750		768,863
5.75%, 01/15/27^(a)			1,479		1,501,185

					5,591,357

Construction & Engineering — 0.0%
Brand Industrial Services, Inc., 8.50%, 07/15/25^(a)			494		432,250
SRS Distribution, Inc., 8.25%, 07/01/26^(a)			298		295,765

					728,015

Construction Materials — 0.4%
American Builders & Contractors Supply Co., Inc.^(a):
5.75%, 12/15/23			371		383,985
5.88%, 05/15/26			101		107,186
HD Supply, Inc., 5.38%, 10/15/26^(a)			4,350		4,582,507


Security	Par (000)			Value

Construction Materials (continued)
Williams Scotsman International, Inc., 6.88%, 08/15/23^(a)		USD	951	$	996,173

					6,069,851

Consumer Discretionary — 0.3%
Dun & Bradstreet Corp., 6.88%, 08/15/26^(a)			1,759		1,875,006
Viking Cruises Ltd., 5.88%, 09/15/27^(a)			2,159		2,234,565

					4,109,571

Consumer Finance — 1.8%
Ally Financial, Inc.:
5.13%, 09/30/24			590		646,050
8.00%, 11/01/31			4,475		5,980,837
Capital One Bank USA NA, 3.38%, 02/15/23^(d)			2,000		2,042,618
Discover Financial Services, 3.85%, 11/21/22			3,252		3,376,221
Navient Corp.:
6.63%, 07/26/21			461		489,038
6.50%, 06/15/22			98		104,341
5.50%, 01/25/23			165		170,725
7.25%, 09/25/23			996		1,086,885
6.13%, 03/25/24			59		62,030
6.75%, 06/15/26			192		199,920
Refinitiv US Holdings, Inc.^(a):
6.25%, 05/15/26			4,535		4,875,125
8.25%, 11/15/26			1,389		1,536,928
Springleaf Finance Corp.:
7.13%, 03/15/26			1,231		1,382,567
6.63%, 01/15/28			506		547,745
Total System Services, Inc., 3.80%, 04/01/21			1,630		1,658,883
Verscend Escrow Corp., 9.75%, 08/15/26^(a)			2,484		2,648,019

					26,807,932

Containers & Packaging — 0.6%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.^(a):
4.63%, 05/15/23			760		779,000
7.25%, 05/15/24			3,194		3,371,331
Berry Global, Inc., 4.88%, 07/15/26^(a)			1,014		1,054,560
Crown Americas LLC/Crown Americas Capital Corp. V, 4.25%, 09/30/26			724		735,005
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75%, 02/01/26^(d)			947		973,516
Greif, Inc., 6.50%, 03/01/27^(a)			207		215,798
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu:
6.88%, 02/15/21			36		36,477
5.13%, 07/15/23^(a)			317		322,547
7.00%, 07/15/24^(a)			1,455		1,505,925


Security	Par (000)			Value

Containers & Packaging (continued)
Sealed Air Corp., 6.88%, 07/15/33^(a)		USD	182	$	202,020

					9,196,179

Diversified Consumer Services — 0.6%
APX Group, Inc., 8.75%, 12/01/20			493		468,350
Ascend Learning LLC, 6.88%, 08/01/25^(a)			693		718,121
Prime Security Services Borrower LLC/Prime Finance, Inc.^(a):
9.25%, 05/15/23			736		773,260
5.25%, 04/15/24			741		755,835
5.75%, 04/15/26^(d)			849		885,083
Service Corp. International:
4.50%, 11/15/20			4,382		4,380,291
5.13%, 06/01/29			660		695,681
ServiceMaster Co. LLC, 5.13%, 11/15/24^(a)			137		141,755

					8,818,376

Diversified Financial Services — 5.9%
Bank of America Corp.^(d):
5.00%, 05/13/21			17,100		17,862,058
4.45%, 03/03/26			11,765		12,672,541
BNP Paribas SA, 4.38%, 03/01/33^(a)(b)			4,000		4,149,142
Citigroup, Inc., 6.68%, 09/13/43^(d)			4,125		5,834,965
Ford Motor Credit Co. LLC, 5.88%, 08/02/21^(d)			9,420		9,905,191
General Motors Financial Co., Inc.:
4.38%, 09/25/21			2,260		2,330,920
4.25%, 05/15/23			1,681		1,744,768
4.35%, 01/17/27^(d)			4,710		4,823,759
Jefferies Financial Group, Inc., 5.50%, 10/18/23			4,000		4,326,665
Macquarie Group Ltd., 4.15%, 03/27/24^(a)(b)			4,000		4,183,920
PetSmart, Inc., 7.13%, 03/15/23^(a)			331		308,657
Resparcs Funding LP I, 8.00%^(g)(i)(j)			4,000		840,000
Royal Bank of Scotland Group PLC:
6.10%, 06/10/23			2,500		2,689,400
6.00%, 12/19/23^(d)			10,080		10,876,854
5.13%, 05/28/24			5,250		5,495,378
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.^(a):
6.75%, 06/01/25			1,288		1,328,250
Series 144A, 6.75%, 06/01/25			562		579,562

					89,952,030


Security	Par (000)			Value

Diversified Telecommunication Services — 6.1%
AT&T, Inc.:
6.30%, 01/15/38^(d)		USD	12,000	$	14,858,303
5.15%, 03/15/42			250		277,908
4.65%, 06/01/44			28		28,553
4.35%, 06/15/45			367		369,133
4.85%, 07/15/45			97		103,229
CenturyLink, Inc.:
5.63%, 04/01/25^(d)			1,354		1,371,602
Series P, 7.60%, 09/15/39			164		152,930
Series S, 6.45%, 06/15/21			1,176		1,233,389
Series U, 7.65%, 03/15/42			246		229,395
Series Y, 7.50%, 04/01/24^(d)			945		1,034,482
Embarq Corp., 8.00%, 06/01/36			1,048		1,019,180
Frontier Communications Corp.:
10.50%, 09/15/22			551		344,375
11.00%, 09/15/25			3,846		2,235,487
8.50%, 04/01/26^(a)			711		694,789
8.00%, 04/01/27^(a)			2,970		3,103,650
Level 3 Financing, Inc.:
5.38%, 08/15/22			2,095		2,105,475
5.13%, 05/01/23			1,183		1,188,939
5.38%, 05/01/25			614		633,955
5.25%, 03/15/26			190		197,838
Telecom Italia Capital SA:
6.38%, 11/15/33			64		67,213
6.00%, 09/30/34			386		391,790
7.20%, 07/18/36			45		50,175
7.72%, 06/04/38			136		157,080
Telecom Italia SpA, 5.30%, 05/30/24^(a)(d)			1,662		1,755,487
Telefonica Emisiones SAU, 5.21%, 03/08/47			6,000		6,784,785
Verizon Communications, Inc.^(d):
5.15%, 09/15/23			8,775		9,732,474
6.40%, 09/15/33			9,475		12,220,957
6.55%, 09/15/43			13,225		18,722,594
5.01%, 04/15/49			10,578		12,524,194

					93,589,361

Electric Utilities — 4.7%
AES Corp.:
4.50%, 03/15/23			400		410,000
4.88%, 05/15/23			86		87,077
5.50%, 04/15/25			412		427,450
6.00%, 05/15/26			843		898,048
5.13%, 09/01/27			6		6,352


Security	Par (000)			Value

Electric Utilities (continued)
CMS Energy Corp., 5.05%, 03/15/22^(d)		USD	9,900	$	10,502,108
DPL, Inc., 7.25%, 10/15/21			46		49,277
Duke Energy Corp., 3.55%, 09/15/21^(d)			3,650		3,731,714
Emera, Inc., Series 16-A, (3 mo. LIBOR US + 5.44%), 6.75%, 06/15/76^(f)			7,500		8,156,250
Evergy, Inc., 5.29%, 06/15/22^(d)(k)			5,550		5,901,487
Midland Cogeneration Venture LP, 5.25%, 03/15/25^(a)(d)			3,129		3,102,997
NextEra Energy Capital Holdings, Inc., 4.80%, 12/01/77^(b)			5,000		4,928,845
NextEra Energy Operating Partners LP^(a):
4.25%, 07/15/24			1,215		1,231,706
4.25%, 09/15/24			290		292,900
4.50%, 09/15/27			474		476,233
Oncor Electric Delivery Co. LLC:
4.10%, 06/01/22^(d)			4,150		4,340,522
5.30%, 06/01/42			2,750		3,512,850
Progress Energy, Inc., 7.00%, 10/30/31^(d)			12,000		16,310,556
Puget Energy, Inc.:
6.00%, 09/01/21			275		292,853
5.63%, 07/15/22^(d)			5,550		5,932,594
TerraForm Power Operating LLC^(a):
4.25%, 01/31/23			470		470,456
5.00%, 01/31/28			470		475,875

					71,538,150

Electronic Equipment, Instruments & Components — 0.2%
CDW LLC/CDW Finance Corp.:
5.00%, 09/01/23			306		310,498
5.50%, 12/01/24			2,653		2,862,853

					3,173,351

Energy Equipment & Services — 0.6%
Archrock Partners LP/Archrock Partners Finance Corp., 6.88%, 04/01/27^(a)			231		243,127
Halliburton Co., 5.00%, 11/15/45^(d)			6,615		7,246,929
McDermott Technology Americas, Inc./McDermott Technology U.S., Inc., 10.63%, 05/01/24^(a)			365		300,669
USA Compression Partners LP/USA Compression Finance Corp.:
6.88%, 04/01/26			707		735,351
6.88%, 09/01/27^(a)			815		847,527

					9,373,603

Entertainment — 0.3%
Netflix, Inc.:
5.88%, 11/15/28			1,682		1,845,995
5.38%, 11/15/29^(a)			1,934		2,035,535

					3,881,530


Security	Par (000)			Value

Environmental, Maintenance, & Security Service — 0.1%
GFL Environmental, Inc.^(a):
7.00%, 06/01/26		USD	82	$	84,665
8.50%, 05/01/27			682		746,790
Waste Pro USA, Inc., 5.50%, 02/15/26^(a)			303		309,818

					1,141,273

Equity Real Estate Investment Trusts (REITs) — 1.7%
American Tower Corp.:
5.90%, 11/01/21^(d)			3,770		4,039,472
3.60%, 01/15/28			4,000		4,118,049
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL, 5.75%, 05/15/26^(a)			383		397,520
Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25^(a)			183		183,004
Host Hotels & Resorts LP, 3.75%, 10/15/23^(d)			3,600		3,703,952
Iron Mountain, Inc., 4.88%, 09/15/27^(a)			1,016		1,008,380
Marriott Ownership Resorts, Inc./ILG LLC, 6.50%, 09/15/26			186		199,541
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.:
5.63%, 05/01/24			4,627		4,939,322
4.50%, 09/01/26			2,600		2,668,900
4.50%, 01/15/28			464		463,420
MPT Operating Partnership LP/MPT Finance Corp.:
5.00%, 10/15/27			1,948		2,016,180
4.63%, 08/01/29			1,047		1,060,402
Starwood Property Trust, Inc., 5.00%, 12/15/21			627		647,378

					25,445,520

Food & Staples Retailing — 1.1%
Albertsons Cos. LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s LLC:
6.63%, 06/15/24			425		443,063
5.75%, 03/15/25			307		313,140
General Mills, Inc., 4.20%, 04/17/28			620		675,026
Kraft Heinz Foods Co.:
7.13%, 08/01/39^(a)			4,415		5,521,930
4.38%, 06/01/46			2,475		2,376,517
Post Holdings, Inc., 5.50%, 12/15/29^(a)			565		571,356


Security	Par (000)			Value

Food & Staples Retailing (continued)
Walmart, Inc., 5.25%, 09/01/35^(d)		USD	5,150	$	6,621,705

					16,522,737

Food Products — 0.5%
Aramark Services, Inc., 5.00%, 02/01/28^(a)			228		237,690
Darling Ingredients, Inc., 5.25%, 04/15/27^(a)			569		593,182
JBS USA LUX SA/JBS USA Finance, Inc.^(a):
5.88%, 07/15/24			537		551,768
5.75%, 06/15/25			2,093		2,144,407
6.75%, 02/15/28			172		185,760
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.^(a):
6.50%, 04/15/29			2,222		2,385,872
5.50%, 01/15/30^(h)			1,398		1,398,000
Post Holdings, Inc., 5.63%, 01/15/28^(a)			428		440,305
Simmons Foods, Inc., 7.75%, 01/15/24^(a)			395		424,625

					8,361,609

Health Care Equipment & Supplies — 0.7%
Avantor, Inc.^(a):
6.00%, 10/01/24^(d)			6,180		6,612,662
9.00%, 10/01/25			1,794		1,987,985
Hologic, Inc.^(a):
4.38%, 10/15/25			209		209,886
4.63%, 02/01/28			226		231,650
Mallinckrodt International Finance SA/Mallinckrodt CB LLC, 5.75%, 08/01/22^(a)(d)			272		204,599
Medtronic, Inc., 4.63%, 03/15/45^(d)			647		803,569

					10,050,351

Health Care Providers & Services — 4.1%
Acadia Healthcare Co., Inc., 5.13%, 07/01/22			191		191,000
Aetna, Inc., 3.88%, 08/15/47			3,500		3,224,611
Anthem, Inc., 4.55%, 03/01/48			5,000		5,359,998
Centene Corp.:
6.13%, 02/15/24			1,370		1,435,075
5.38%, 06/01/26^(a)			4,324		4,567,225
CHS/Community Health Systems, Inc.^(a):
8.63%, 01/15/24			1,347		1,347,000
8.00%, 03/15/26			854		818,772
Encompass Health Corp., 5.75%, 11/01/24			584		590,582
Envision Healthcare Crop., 8.75%, 10/15/26^(a)			613		424,502


Security	Par (000)			Value

Health Care Providers & Services (continued)
HCA, Inc.:
7.50%, 02/15/22		USD	2,214	$	2,451,341
5.38%, 02/01/25			1,108		1,198,258
5.38%, 09/01/26^(d)			665		719,862
5.63%, 09/01/28			2,084		2,298,027
5.88%, 02/01/29			1,245		1,389,731
5.25%, 06/15/49			3,500		3,658,050
MEDNAX, Inc.^(a):
5.25%, 12/01/23			323		322,441
6.25%, 01/15/27			1,749		1,733,290
Molina Healthcare, Inc., 5.38%, 11/15/22			395		412,408
MPH Acquisition Holdings LLC, 7.13%, 06/01/24^(a)			635		615,925
NVA Holdings, Inc., 6.88%, 04/01/26^(a)			439		469,730
Polaris Intermediate Corp., (8.50% Cash), 8.50%, 12/01/22^(a)(l)			1,621		1,499,117
Regional Care Hospital Partners Holdings, Inc., 8.25%, 05/01/23^(a)			1,977		2,104,912
Surgery Center Holdings, Inc., 10.00%, 04/15/27^(a)			444		438,450
Tenet Healthcare Corp.:
6.00%, 10/01/20			4,102		4,219,932
8.13%, 04/01/22			2,108		2,252,925
4.63%, 07/15/24			1,145		1,164,465
6.25%, 02/01/27^(a)			1,395		1,448,010
UnitedHealth Group, Inc., 6.88%, 02/15/38^(d)			10,000		14,465,968
WellCare Health Plans, Inc.:
5.25%, 04/01/25			776		805,263
5.38%, 08/15/26^(a)			757		800,626

					62,427,496

Health Care Technology — 0.2%
Change Healthcare Holdings LLC/Change Healthcare Finance, Inc., 5.75%, 03/01/25^(a)			650		651,430
IQVIA, Inc.^(a):
5.00%, 10/15/26			554		578,930
5.00%, 05/15/27			1,192		1,242,517

					2,472,877

Hotels, Restaurants & Leisure — 2.1%
1011778 BC ULC/New Red Finance, Inc.^(a):
4.25%, 05/15/24			1,707		1,744,588
5.00%, 10/15/25			3,039		3,099,780
Boyd Gaming Corp., 6.00%, 08/15/26			330		344,850
Cedar Fair LP, 5.25%, 07/15/29^(a)			710		734,850
Churchill Downs, Inc.^(a):
5.50%, 04/01/27			1,493		1,564,384
4.75%, 01/15/28			459		459,574
Eldorado Resorts, Inc., 6.00%, 09/15/26			277		299,055


Security	Par (000)			Value

Hotels, Restaurants & Leisure (continued)
ESH Hospitality, Inc., 5.25%, 05/01/25^(a)		USD	709	$	729,384
Golden Nugget, Inc., 6.75%, 10/15/24^(a)			1,562		1,607,892
Hilton Domestic Operating Co., Inc.:
4.25%, 09/01/24			1,133		1,147,389
5.13%, 05/01/26			1,492		1,549,979
4.88%, 01/15/30^(a)			1,920		1,972,800
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., 4.88%, 04/01/27			123		127,459
IRB Holding Corp., 6.75%, 02/15/26^(a)			156		155,220
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC^(a):
5.00%, 06/01/24			600		619,500
5.25%, 06/01/26			650		674,830
4.75%, 06/01/27			817		836,404
MGM Resorts International:
6.63%, 12/15/21			4,552		4,928,041
7.75%, 03/15/22			504		563,069
Sabre GLBL, Inc.^(a):
5.38%, 04/15/23			594		607,418
5.25%, 11/15/23			434		445,510
Scientific Games International, Inc.^(a):
5.00%, 10/15/25			1,300		1,329,250
8.25%, 03/15/26			3,430		3,671,060
Six Flags Entertainment Corp., 4.88%, 07/31/24^(a)			289		295,502
Station Casinos LLC, 5.00%, 10/01/25^(a)			662		674,578
Wyndham Destinations, Inc.:
5.40%, 04/01/24			883		929,357
5.75%, 04/01/27			308		327,635
Wyndham Hotels & Resorts, Inc., 5.38%, 04/15/26^(a)			453		471,686

					31,911,044

Household Durables — 0.8%
Brookfield Residential Properties, Inc./Brookfield Residential US Corp., 6.13%, 07/01/22^(a)			1,314		1,327,298
Lennar Corp.:
2.95%, 11/29/20			520		520,000
8.38%, 01/15/21			3,015		3,233,587
4.75%, 11/15/22			1,805		1,868,391
4.88%, 12/15/23			466		490,465
5.25%, 06/01/26			890		945,803
Newell Brands, Inc.:
4.00%, 12/01/24			3,000		3,000,985
4.20%, 04/01/26			955		955,743

					12,342,272


Security	Par (000)			Value

Household Products — 0.2%
Energizer Holdings, Inc.^(a):
6.38%, 07/15/26		USD	222	$	231,435
7.75%, 01/15/27			631		685,083
Spectrum Brands, Inc.:
6.63%, 11/15/22			555		566,100
6.13%, 12/15/24			231		239,085
5.75%, 07/15/25			1,002		1,038,022

					2,759,725

Independent Power and Renewable Electricity Producers — 0.9%
Calpine Corp.:
6.00%, 01/15/22^(a)			1,858		1,871,935
5.38%, 01/15/23			2,283		2,275,808
5.88%, 01/15/24^(a)			628		642,130
5.75%, 01/15/25^(d)			674		670,428
5.25%, 06/01/26^(a)			1,741		1,758,445
Clearway Energy Operating LLC:
5.38%, 08/15/24			457		468,996
5.75%, 10/15/25^(a)			653		677,292
NRG Energy, Inc.:
6.63%, 01/15/27			3,042		3,243,350
5.75%, 01/15/28			808		860,520
5.25%, 06/15/29^(a)			1,384		1,460,120

					13,929,024

Industrial Conglomerates — 0.1%
BWX Technologies, Inc., 5.38%, 07/15/26^(a)			862		892,170
Vertiv Group Corp., 9.25%, 10/15/24^(a)			989		932,133

					1,824,303

Insurance — 3.5%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 8.25%, 08/01/23^(a)			1,782		1,822,095
American International Group, Inc., 6.40%, 12/15/20^(d)			8,710		9,174,394
Aon Corp., 5.00%, 09/30/20^(d)			7,700		7,925,307
Aon PLC, 4.25%, 12/12/42^(d)			6,500		6,667,583
Global Atlantic Fin Co., 8.63%, 04/15/21^(a)			3,400		3,684,806
HUB International Ltd., 7.00%, 05/01/26^(a)			2,025		2,059,162
Nationstar Mortgage Holdings, Inc.^(a):
8.13%, 07/15/23			552		573,390
9.13%, 07/15/26			262		274,445
Northwestern Mutual Life Insurance Co., 6.06%, 03/30/40^(a)(d)			12,000		16,279,458


Security	Par (000)			Value

Insurance (continued)
Progressive Corp., Series B, 5.38%^(b)(g)		USD	5,000	$	5,156,250

					53,616,890

Interactive Media & Services — 0.8%
Booking Holdings, Inc., 3.55%, 03/15/28			3,375		3,556,942
Equinix, Inc., 5.88%, 01/15/26			1,169		1,241,712
Go Daddy Operating Co. LLC/GD Finance Co., Inc., 5.25%, 12/01/27^(a)			695		723,669
Rackspace Hosting, Inc., 8.63%, 11/15/24^(a)(d)			402		367,830
SS&C Technologies, Inc., 5.50%, 09/30/27^(a)			3,238		3,367,520
Symantec Corp., 5.00%, 04/15/25^(a)			1,292		1,317,868
Uber Technologies, Inc.^(a):
7.50%, 11/01/23^(d)			794		839,655
8.00%, 11/01/26			468		494,910

					11,910,106

Internet & Direct Marketing Retail — 0.1%
Alibaba Group Holding Ltd., 4.20%, 12/06/47			1,470		1,560,497


IT Services — 0.4%
Banff Merger Sub, Inc., 9.75%, 09/01/26^(a)			637		566,930
Dun & Bradstreet Corp., 10.25%, 02/15/27^(a)			59		63,425
Fidelity National Information Services, Inc., 5.00%, 10/15/25			538		605,871
First Data Corp., 5.75%, 01/15/24^(a)			2,459		2,529,819
Gartner, Inc., 5.13%, 04/01/25^(a)			399		410,471
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.00%, 08/15/27^(a)			1,918		1,946,770
WEX, Inc., 4.75%, 02/01/23^(a)			760		763,800

					6,887,086

Leisure Products — 0.1%
Mattel, Inc., 6.75%, 12/31/25^(a)			746		784,247


Life Sciences Tools & Services — 0.8%
Life Technologies Corp., 6.00%, 03/01/20^(d)			12,000		12,229,218


Machinery — 0.2%
Colfax Corp.^(a):
6.00%, 02/15/24			983		1,041,059
6.38%, 02/15/26			517		553,355
RBS Global, Inc./Rexnord LLC, 4.88%, 12/15/25^(a)			878		891,170


Security	Par (000)			Value

Machinery (continued)
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26^(a)		USD	1,464	$	1,328,580

					3,814,164

Media — 10.2%
A&E Television Networks LLC, 3.11%, 08/22/19^(e)			5,000		4,997,500
Altice Financing SA^(a):
6.63%, 02/15/23			834		860,063
7.50%, 05/15/26			1,772		1,856,170
Altice France SA^(a):
6.25%, 05/15/24			233		240,573
7.38%, 05/01/26			5,039		5,369,684
8.13%, 02/01/27			485		528,044
Altice Luxembourg SA^(a):
7.75%, 05/15/22^(d)			5,426		5,541,302
7.63%, 02/15/25			1,030		1,009,441
10.50%, 05/15/27			1,083		1,146,626
AMC Networks, Inc.:
4.75%, 12/15/22			685		689,932
4.75%, 08/01/25			1,104		1,123,320
CCO Holdings LLC/CCO Holdings Capital Corp.^(a):
4.00%, 03/01/23			1,216		1,222,080
5.13%, 05/01/27			4,505		4,645,781
5.00%, 02/01/28			357		366,389
5.38%, 06/01/29			2,616		2,710,830
Charter Communications Operating LLC/Charter Communications Operating Capital:
6.38%, 10/23/35			479		565,343
6.48%, 10/23/45^(d)			9,584		11,314,389
5.38%, 05/01/47			1,500		1,578,985
6.83%, 10/23/55			3,540		4,302,155
Cinemark USA, Inc., 5.13%, 12/15/22			349		354,172
Clear Channel Worldwide Holdings, Inc.:
6.50%, 11/15/22			2,758		2,813,712
9.25%, 02/15/24^(a)			4,702		5,039,622
Series B, 6.50%, 11/15/22^(d)			7,431		7,587,051
Comcast Corp., 4.95%, 10/15/58			3,795		4,611,739
Cox Communications, Inc.^(a):
8.38%, 03/01/39			5,000		7,064,301
4.60%, 08/15/47			625		653,284
CSC Holdings LLC:
5.38%, 07/15/23^(a)			2,432		2,494,259
5.25%, 06/01/24			1,061		1,107,419
7.75%, 07/15/25^(a)			4,129		4,438,675
6.63%, 10/15/25^(a)			1,072		1,139,000
10.88%, 10/15/25^(a)			620		706,223
5.50%, 05/15/26^(a)			1,041		1,087,845
5.38%, 02/01/28^(a)			800		834,000


Security	Par (000)			Value

Media (continued)
7.50%, 04/01/28^(a)		USD	877	$	965,796
6.50%, 02/01/29^(a)			591		651,578
5.75%, 01/15/30^(a)			1,165		1,182,475
Cumulus Media New Holdings, Inc., 6.75%, 07/01/26^(a)			489		499,391
Diamond Sports Group LLC/Diamond Sports Finance Co., 5.38%, 08/15/26^(a)(h)			2,028		2,060,955
Discovery Communications LLC:
3.95%, 03/20/28^(d)			8,515		8,789,961
4.88%, 04/01/43			4,000		4,049,894
DISH DBS Corp.:
5.88%, 07/15/22			1,732		1,750,654
5.88%, 11/15/24			164		152,523
Gray Television, Inc., 7.00%, 05/15/27^(a)			554		605,938
Hughes Satellite Systems Corp., 5.25%, 08/01/26			391		414,265
iHeartCommunications, Inc., 6.38%, 05/01/26			370		392,995
Intelsat Jackson Holdings SA:
5.50%, 08/01/23			154		141,873
8.50%, 10/15/24^(a)			1,132		1,129,283
9.75%, 07/15/25^(a)			2,711		2,802,496
Interpublic Group of Cos., Inc.:
3.75%, 02/15/23^(d)			6,025		6,302,980
5.40%, 10/01/48			2,215		2,534,342
Lamar Media Corp., 5.75%, 02/01/26			282		297,425
MDC Partners, Inc., 6.50%, 05/01/24^(a)			447		403,418
Meredith Corp., 6.88%, 02/01/26			396		419,760
Nexstar Escrow, Inc., 5.63%, 07/15/27^(a)			486		504,833
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.63%, 02/15/24			126		129,465
Qualitytech LP/QTS Finance Corp., 4.75%, 11/15/25^(a)			105		105,525
Scripps Escrow, Inc., 5.88%, 07/15/27^(a)			384		387,913
Sirius XM Radio, Inc.^(a):
4.63%, 07/15/24			182		187,333
5.00%, 08/01/27			597		614,910
5.50%, 07/01/29			1,282		1,341,292
TEGNA, Inc., 5.50%, 09/15/24^(a)			351		361,969
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28^(a)			1,000		1,012,000
Time Warner Cable LLC, 6.55%, 05/01/37			3,519		4,120,537
Tribune Media Co., 5.88%, 07/15/22			1,308		1,329,582
Univision Communications, Inc., 5.13%, 05/15/23^(a)			750		744,600
UPCB Finance IV Ltd., 5.38%, 01/15/25^(a)			420		430,500


Security	Par (000)			Value

Media (continued)
Viacom, Inc., 5.85%, 09/01/43		USD	1,300	$	1,546,419
Videotron Ltd., 5.13%, 04/15/27^(a)			1,099		1,151,202
Virgin Media Secured Finance PLC^(a):
5.50%, 08/15/26			487		508,915
5.50%, 05/15/29			504		516,348
Walt Disney Co., 6.15%, 03/01/37^(a)(d)			9,575		13,076,473
Ziggo Bond Co. BV, 6.00%, 01/15/27^(a)			955		968,370
Ziggo BV, 5.50%, 01/15/27^(a)			972		995,085

					155,581,182

Metals & Mining — 2.4%
Alcoa Nederland Holding BV^(a):
7.00%, 09/30/26			291		311,734
6.13%, 05/15/28			236		248,095
AngloGold Ashanti Holdings PLC, 5.13%, 08/01/22			5,000		5,243,750
Commercial Metals Co., 4.88%, 05/15/23			2,194		2,248,850
Constellium SE:
4.63%, 05/15/21		EUR	490		543,786
6.63%, 03/01/25^(a)		USD	609		637,928
5.88%, 02/15/26^(a)			1,451		1,505,412
Freeport-McMoRan, Inc.:
4.00%, 11/14/21			500		509,375
3.55%, 03/01/22			221		221,568
3.88%, 03/15/23			6,265		6,278,783
5.40%, 11/14/34			2,250		2,171,250
5.45%, 03/15/43			4,252		3,944,580
Grinding Media, Inc./Moly-Cop AltaSteel Ltd., 7.38%, 12/15/23^(a)			817		782,278
Novelis Corp.^(a):
6.25%, 08/15/24			2,381		2,494,145
5.88%, 09/30/26			1,876		1,944,005
Southern Copper Corp., 5.88%, 04/23/45			3,870		4,620,780
Steel Dynamics, Inc.:
5.13%, 10/01/21			1,105		1,107,763
5.25%, 04/15/23			309		315,180
5.50%, 10/01/24			240		247,730
4.13%, 09/15/25			639		641,626
5.00%, 12/15/26			35		36,575

					36,055,193

Oil, Gas & Consumable Fuels — 16.2%
Aker BP ASA^(a):
4.75%, 06/15/24			1,169		1,204,070
5.88%, 03/31/25			570		599,925
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.00%, 04/01/22^(a)			492		485,850
Berry Petroleum Co. LLC, 7.00%, 02/15/26^(a)			105		100,275


Security		Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
Callon Petroleum Co., Series WI, 6.38%, 07/01/26	USD		10	$	9,750
Carrizo Oil & Gas, Inc.:
6.25%, 04/15/23			6		5,892
8.25%, 07/15/25			817		817,000
Cheniere Corpus Christi Holdings LLC:
7.00%, 06/30/24			1,916		2,179,488
5.88%, 03/31/25			202		222,220
5.13%, 06/30/27			3,310		3,603,431
Cheniere Energy Partners LP, 5.63%, 10/01/26			596		630,270
Chesapeake Energy Corp.:
6.63%, 08/15/20			1,182		1,182,000
4.88%, 04/15/22			3,235		2,971,145
5.75%, 03/15/23			85		73,100
7.00%, 10/01/24^(d)			698		570,615
8.00%, 06/15/27			70		56,000
CNX Resources Corp., 5.88%, 04/15/22			5,500		5,240,675
Concho Resources, Inc., 4.88%, 10/01/47			3,815		4,209,735
CONSOL Energy, Inc., 11.00%, 11/15/25^(a)			328		347,680
Continental Resources, Inc., 4.90%, 06/01/44			3,500		3,643,251
Covey Park Energy LLC/Covey Park Finance Corp., 7.50%, 05/15/25^(a)			382		267,400
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.63%, 05/01/27^(a)			1,025		1,014,852
CrownRock LP/CrownRock Finance, Inc., 5.63%, 10/15/25^(a)			2,479		2,441,815
DCP Midstream Operating LP:
5.38%, 07/15/25			120		127,352
5.13%, 05/15/29			944		972,320
6.45%, 11/03/36^(a)			247		261,820
6.75%, 09/15/37^(a)			1,527		1,628,164
Denbury Resources, Inc., 9.25%, 03/31/22^(a)			1,134		995,085
Devon Energy Corp., 5.85%, 12/15/25			4,000		4,718,678
eG Global Finance PLC, 6.75%, 02/07/25^(a)			906		909,397
El Paso Natural Gas Co. LLC, 8.63%, 01/15/22			2,345		2,665,925
Enbridge, Inc., 6.25%, 03/01/78^(f)			5,000		5,203,550
Endeavor Energy Resources LP/EER Finance, Inc.^(a):
5.50%, 01/30/26			1,978		2,047,230
5.75%, 01/30/28			369		391,140
Energy Transfer Operating LP:
7.50%, 10/15/20			598		631,550
5.20%, 02/01/22^(d)			10,200		10,793,891
4.25%, 03/15/23			553		576,676


Security		Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
5.88%, 01/15/24	USD		3,366	$	3,738,362
5.50%, 06/01/27			406		454,885
6.13%, 12/15/45			3,579		4,107,474
EnLink Midstream LLC, 5.38%, 06/01/29			188		193,819
EnLink Midstream Partners LP:
4.40%, 04/01/24			613		623,145
4.15%, 06/01/25			66		65,010
4.85%, 07/15/26			70		71,050
5.60%, 04/01/44			885		765,525
5.05%, 04/01/45			774		650,160
5.45%, 06/01/47			301		256,603
Enterprise Products Operating LLC:
4.90%, 05/15/46^(d)			5,375		6,043,789
Series E, 5.25%, 08/16/77^(b)			4,800		4,737,408
Extraction Oil & Gas, Inc.^(a):
7.38%, 05/15/24			416		338,000
5.63%, 02/01/26			1,048		773,445
Hess Corp., 5.80%, 04/01/47			5,000		5,488,255
Hess Infrastructure Partners LP/Hess Infrastructure Partners Finance Corp., 5.63%, 02/15/26^(a)			515		535,439
Indigo Natural Resources LLC, 6.88%, 02/15/26^(a)			838		706,015
Kinder Morgan Energy Partners LP:
6.50%, 04/01/20^(d)			5,075		5,205,850
6.85%, 02/15/20^(d)			12,000		12,261,427
4.25%, 09/01/24			2,170		2,304,112
5.40%, 09/01/44			3,615		4,006,372
Kinder Morgan, Inc.:
7.80%, 08/01/31			197		265,935
7.75%, 01/15/32			4,586		6,292,407
Marathon Petroleum Corp.:
4.75%, 12/15/23			1,230		1,332,268
5.13%, 12/15/26			937		1,036,380
Matador Resources Co., 5.88%, 09/15/26			924		912,903
MEG Energy Corp., 6.50%, 01/15/25^(a)			2,343		2,343,000
Midcontinent Express Pipeline LLC, 6.70%, 09/15/19^(a)			3,500		3,516,269
MPLX LP:
4.13%, 03/01/27			825		859,391
5.20%, 03/01/47			3,500		3,752,289
4.70%, 04/15/48^(d)			5,000		5,053,724
5.50%, 02/15/49			2,640		2,950,993
Murphy Oil Corp.:
5.75%, 08/15/25			364		373,100
5.63%, 12/01/42			422		377,690
Nabors Industries, Inc., 4.63%, 09/15/21			1,044		1,023,120
Nexen, Inc., 6.40%, 05/15/37			2,000		2,663,750


Security		Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
NGPL PipeCo LLC^(a):
4.88%, 08/15/27	USD		1,709	$	1,832,902
7.77%, 12/15/37			1,117		1,467,459
Noble Energy, Inc., 5.05%, 11/15/44			3,500		3,734,878
Noble Holding International Ltd.:
7.75%, 01/15/24^(d)			157		122,068
7.88%, 02/01/26^(a)			1,482		1,263,405
Northern Oil and Gas, Inc., (8.50% Cash or 1.00% PIK), 8.50%, 05/15/23^(l)			556		570,611
NuStar Logistics LP, 6.00%, 06/01/26			373		393,515
Oasis Petroleum, Inc.:
6.88%, 03/15/22			32		31,851
6.88%, 01/15/23			609		599,104
Pacific Drilling SA, 8.38%, 10/01/23^(a)			2,003		1,950,421
Parsley Energy LLC/Parsley Finance Corp.^(a):
6.25%, 06/01/24			228		236,265
5.25%, 08/15/25			598		602,485
5.63%, 10/15/27			1,160		1,197,700
Petroleos Mexicanos:
3.50%, 01/30/23^(d)			5,000		4,765,050
4.63%, 09/21/23			3,965		3,896,356
4.88%, 01/18/24^(d)			2,000		1,963,800
Plains All American Pipeline LP, Series B, 6.13%^(b)(g)			2,215		2,136,279
Plains All American Pipeline LP/PAA Finance Corp.:
4.70%, 06/15/44			1,498		1,454,265
4.90%, 02/15/45			2,102		2,117,508
QEP Resources, Inc.:
6.88%, 03/01/21			133		133,000
5.38%, 10/01/22			1,725		1,599,937
5.63%, 03/01/26			319		272,751
Range Resources Corp.:
5.00%, 08/15/22			94		86,452
4.88%, 05/15/25^(d)			193		162,120
Rockies Express Pipeline LLC^(a):
5.63%, 04/15/20			295		301,900
6.88%, 04/15/40			580		643,394
Rowan Cos., Inc., 4.88%, 06/01/22			1,705		1,560,075
Sabine Pass Liquefaction LLC:
5.63%, 02/01/21			405		419,390
5.63%, 04/15/23^(d)			10,510		11,418,660
5.75%, 05/15/24			2,575		2,856,632
5.88%, 06/30/26			1,481		1,688,725
Seven Generations Energy Ltd., 5.38%, 09/30/25^(a)			14		13,335
SM Energy Co.:
6.13%, 11/15/22			44		43,010
5.00%, 01/15/24			64		58,720
5.63%, 06/01/25^(d)			138		119,715
6.75%, 09/15/26			177		159,300


Security		Par (000)		Value

Oil, Gas & Consumable Fuels (continued)
Southwestern Energy Co.:
6.20%, 01/23/25	USD		725	$	625,313
7.75%, 10/01/27			22		19,250
SRC Energy, Inc., 6.25%, 12/01/25			135		117,450
Sunoco LP/Sunoco Finance Corp.:
6.00%, 04/15/27			317		334,039
Series WI, 4.88%, 01/15/23			672		683,558
Series WI, 5.88%, 03/15/28			317		328,095
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.^(a):
5.50%, 09/15/24			284		287,550
5.50%, 01/15/28			1,059		1,050,740
Targa Resources Partners LP/Targa Resources Partners Finance Corp.:
6.75%, 03/15/24			184		190,440
5.13%, 02/01/25			136		140,080
5.88%, 04/15/26			669		706,431
5.38%, 02/01/27			39		40,560
6.50%, 07/15/27^(a)			770		838,353
5.00%, 01/15/28			781		791,739
6.88%, 01/15/29^(a)			2,255		2,486,588
TransCanada PipeLines Ltd.:
4.88%, 01/15/26^(d)			4,485		4,992,349
4.88%, 05/15/48			4,000		4,509,997
TransCanada Trust(3 mo. LIBOR US + 3.53%), 5.63%, 05/20/75^(f)			2,755		2,820,569
Transocean Pontus Ltd., 6.13%, 08/01/25^(a)			727		748,506
Transocean Poseidon Ltd., 6.88%, 02/01/27^(a)			1,249		1,333,332
Transocean Sentry Ltd., 5.38%, 05/15/23^(a)			668		669,670
Transocean, Inc.^(a):
9.00%, 07/15/23			1,583		1,665,648
7.25%, 11/01/25			635		596,900
7.50%, 01/15/26			819		776,003
Valaris PLC, 5.75%, 10/01/44			512		291,840
Western Midstream Operating LP, 5.38%, 06/01/21			5,125		5,287,281
Whiting Petroleum Corp., 6.63%, 01/15/26			48		45,240
Williams Cos., Inc.:
3.70%, 01/15/23			2,245		2,318,129
4.55%, 06/24/24			527		565,630
8.75%, 03/15/32			2,478		3,535,736
5.10%, 09/15/45^(d)			5,075		5,528,894
WPX Energy, Inc.:
6.00%, 01/15/22			72		74,610
8.25%, 08/01/23			811		912,375
5.25%, 09/15/24			22		22,110
5.75%, 06/01/26			428		439,770

					247,526,394


Security		Par (000)		Value

Paper & Forest Products — 1.8%
International Paper Co.^(d):
7.50%, 08/15/21	USD		7,209	$	7,913,817
8.70%, 06/15/38			4,000		5,775,554
7.30%, 11/15/39			10,000		13,171,922

					26,861,293

Personal Products — 0.0%
Coty, Inc., 6.50%, 04/15/26^(a)			266		256,025


Pharmaceuticals — 4.6%
Abbott Laboratories, 4.90%, 11/30/46^(d)			5,500		6,840,846
AbbVie, Inc., 4.70%, 05/14/45			3,255		3,306,254
Allergan Funding SCS, 4.75%, 03/15/45^(d)			5,485		5,655,382
Allergan Sales LLC, 5.00%, 12/15/21^(a)(d)			1,631		1,710,659
Allergan, Inc., 2.80%, 03/15/23			3,000		3,001,135
Bausch Health Americas, Inc.^(a):
8.50%, 01/31/27			1,804		1,986,835
9.25%, 04/01/26			176		197,120
Bausch Health Cos., Inc.^(a):
5.50%, 03/01/23			2,365		2,378,315
5.88%, 05/15/23			1,153		1,161,302
7.00%, 03/15/24			1,303		1,374,665
6.13%, 04/15/25			152		156,370
5.50%, 11/01/25			2,416		2,512,640
9.00%, 12/15/25			1,684		1,886,737
5.75%, 08/15/27			326		343,115
7.00%, 01/15/28			1,175		1,217,594
7.25%, 05/30/29			1,242		1,290,910
Bayer US Finance II LLC, 4.88%, 06/25/48^(a)(d)			7,500		7,729,358
Catalent Pharma Solutions, Inc., 5.00%, 07/15/27^(a)			603		619,583
Charles River Laboratories International, Inc., 5.50%, 04/01/26^(a)			806		852,345
CVS Health Corp.:
4.75%, 12/01/22			289		306,450
5.00%, 12/01/24			183		198,859
5.13%, 07/20/45			3,879		4,206,237
5.05%, 03/25/48^(d)			8,205		8,893,146
Eagle Holding Co. II LLC, (7.75% Cash), 7.75%, 05/15/22^(a)(l)			784		790,860
Elanco Animal Health, Inc., 4.90%, 08/28/28			447		495,172
Merck & Co., Inc., 6.50%, 12/01/33^(d)			6,420		9,020,120


Security		Par (000)		Value

Pharmaceuticals (continued)
Par Pharmaceutical, Inc., 7.50%, 04/01/27^(a)	USD		1,643	$	1,491,022
Syneos Health, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.50%, 10/01/24^(a)			297		309,623

					69,932,654

Real Estate Management & Development — 0.3%
Greystar Real Estate Partners LLC, 5.75%, 12/01/25^(a)			460		470,350
Northwest Florida Timber Finance LLC, 4.75%, 03/04/29^(a)(d)			4,485		4,532,582

					5,002,932

Road & Rail — 1.4%
Herc Holdings, Inc., 5.50%, 07/15/27^(a)			883		884,104
Hertz Corp., 7.63%, 06/01/22^(a)			977		1,012,778
Norfolk Southern Corp., 6.00%, 03/15/05^(d)			12,700		16,080,834
United Rentals North America, Inc.:
4.63%, 07/15/23			1,616		1,651,907
5.88%, 09/15/26			400		425,500
5.25%, 01/15/30			716		732,418

					20,787,541

Semiconductors & Semiconductor Equipment — 1.1%
Broadcom Corp./Broadcom Cayman Finance Ltd., 3.88%, 01/15/27^(d)			7,500		7,336,479
Lam Research Corp., 4.88%, 03/15/49			875		995,711
NXP BV/NXP Funding LLC, 4.63%, 06/15/22^(a)			490		512,470
QUALCOMM, Inc.:
3.25%, 05/20/27^(d)			2,500		2,558,866
4.30%, 05/20/47			3,500		3,753,378
Sensata Technologies BV^(a):
5.63%, 11/01/24			695		748,862
5.00%, 10/01/25			772		812,515

					16,718,281

Software — 1.2%
CDK Global, Inc.:
5.88%, 06/15/26			378		402,098
4.88%, 06/01/27			1,041		1,076,238
5.25%, 05/15/29^(a)			423		438,863
Genesys Telecommunications Laboratories, Inc./Greeneden Lux 3 Sarl/Greeneden US Ho, 10.00%, 11/30/24^(a)			2,842		3,101,332
Infor US, Inc., 6.50%, 05/15/22			8,723		8,875,652
Informatica LLC, 7.13%, 07/15/23^(a)			1,599		1,628,981
Nuance Communications, Inc., 6.00%, 07/01/24			31		32,163


Security		Par (000)		Value

Software (continued)
PTC, Inc., 6.00%, 05/15/24	USD		313	$	327,476
Solera LLC/Solera Finance, Inc., 10.50%, 03/01/24^(a)			2,176		2,330,387
Sophia LP/Sophia Finance, Inc., 9.00%, 09/30/23^(a)			480		496,200

					18,709,390

Specialty Retail — 0.5%
IAA, Inc., 5.50%, 06/15/27^(a)			1,054		1,102,089
L Brands, Inc., 6.88%, 11/01/35^(d)			1,119		995,910
Penske Automotive Group, Inc., 5.50%, 05/15/26			1,160		1,200,600
PetSmart, Inc., 5.88%, 06/01/25^(a)			2,140		2,115,604
Staples, Inc., 7.50%, 04/15/26^(a)			2,426		2,480,585

					7,894,788

Technology Hardware, Storage & Peripherals — 0.4%
Dell International LLC/EMC Corp.^(a):
5.88%, 06/15/21			615		625,629
7.13%, 06/15/24			1,800		1,903,506
8.35%, 07/15/46			2,355		3,002,634
Western Digital Corp., 4.75%, 02/15/26			1,104		1,091,580

					6,623,349

Textiles, Apparel & Luxury Goods — 0.1%
Levi Strauss & Co., 5.00%, 05/01/25			699		725,213
William Carter Co., 5.63%, 03/15/27^(a)			365		383,250

					1,108,463

Thrifts & Mortgage Finance — 0.1%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.^(a):
5.25%, 03/15/22			480		492,000
5.25%, 10/01/25			268		274,700

					766,700

Tobacco — 2.1%
Altria Group, Inc., 10.20%, 02/06/39^(d)			13,392		21,113,020
BAT Capital Corp., 4.54%, 08/15/47^(d)			8,000		7,574,811
Reynolds American, Inc.:
4.85%, 09/15/23			1,120		1,206,098
5.85%, 08/15/45			2,335		2,560,536

					32,454,465

Trading Companies & Distributors — 0.1%
Doric Nimrod Air Alpha Ltd. Pass-Through Trust, Series 2013-1^(a):
Class A, 5.25%, 05/30/25			1,415		1,454,914
Class B, 6.13%, 11/30/21			384		386,563

					1,841,477


Security		Par (000)		Value

Transportation Infrastructure — 0.7%
Penske Truck Leasing Co. LP/PTL Finance Corp., 4.88%, 07/11/22^(a)(d)	USD		10,500	$	11,141,346


Utilities — 0.1%
Vistra Operations Co. LLC^(a):
5.50%, 09/01/26			70		73,325
5.63%, 02/15/27			812		856,660
5.00%, 07/31/27			436		446,355

					1,376,340

Wireless Telecommunication Services — 1.8%
Crown Castle International Corp.:
4.88%, 04/15/22			2,500		2,647,734
3.65%, 09/01/27^(d)			8,000		8,280,613
CyrusOne LP/CyrusOne Finance Corp., 5.38%, 03/15/27			129		136,740
Digicel International Finance Ltd./Digicel Holdings Bermuda Ltd., 8.75%, 05/25/24^(a)			635		598,488
SBA Communications Corp.:
4.00%, 10/01/22			1,045		1,059,369
4.88%, 09/01/24			2,995		3,080,717
Sprint Capital Corp.:
6.88%, 11/15/28			664		730,400
8.75%, 03/15/32			558		692,617
Sprint Corp.:
7.88%, 09/15/23			1,725		1,923,375
7.13%, 06/15/24			2,914		3,190,830
7.63%, 02/15/25			36		39,871
7.63%, 03/01/26			2,029		2,267,468
T-Mobile USA, Inc.:
6.50%, 01/15/26			960		1,022,112
4.50%, 02/01/26			645		657,094
4.75%, 02/01/28			1,323		1,359,382

					27,686,810


Total Corporate Bonds — 105.6% (Cost — $1,493,148,649)					1,607,958,426


Foreign Agency Obligations — 2.1%
Brazilian Government International Bond, 5.00%, 01/27/45			6,525		6,755,414
Colombia Government International Bond, 5.63%, 02/26/44			4,000		4,786,250
Indonesia Government International Bond, 5.88%, 01/15/24^(a)			4,400		4,966,500


Security		Par (000)		Value

Foreign Agency Obligations (continued)
Mexico Government International Bond:
4.75%, 03/08/44	USD		5,800	$	6,008,437
4.60%, 02/10/48			5,000		5,087,500
Uruguay Government International Bond, 5.10%, 06/18/50			3,500		4,008,594


Total Foreign Agency Obligations — 2.1% (Cost — $28,609,587)					31,612,695


Municipal Bonds — 1.2%
Chicago O’Hare International Airport, Refunding ARB, O’Hare International Airport, General 3rd Lien, Build America Bonds, Series B, 6.85%, 01/01/38			5,000		5,085,600
Metropolitan Transportation Authority, RB, Build America Bonds, Series B-1, 6.55%, 11/15/31			10,000		12,961,500


Total Municipal Bonds — 1.2% (Cost — $14,837,995)					18,047,100


Preferred Securities — 24.1%

Capital Trusts — 21.8%

Banks — 6.7%
Barclays PLC, 8.00%^(b)(g)			4,500		4,726,350
BNP Paribas SA^(a)(f)(g):
7.20%			5,000		5,478,100
7.38%			4,535		5,022,512
Capital One Financial Corp., Series E, 5.55%^(f)(g)			5,000		5,062,500
CIT Group, Inc., Series A, 5.80%^(f)(g)			3,000		3,052,500
Citigroup, Inc., 5.90%^(f)(g)			2,210		2,311,815
Credit Suisse Group AG^(a)(f)(g):
6.25%			7,255		7,640,415
7.50%			3,250		3,584,750
HSBC Capital Funding LP, 10.18%^(a)(d)(f)(g)			11,835		18,943,338
Lloyds Banking Group PLC, 7.50%^(b)(g)			8,285		8,674,395
Macquarie Bank Ltd., 6.13%^(a)(f)(g)			1,885		1,874,406
Nordea Bank AB, 6.13%^(a)(f)(g)			5,540		5,706,200
U.S. Bancorp, Series J, 5.30%^(d)(f)(g)			10,415		10,974,806
Wells Fargo & Co.,^(f)(g):
Series K, 6.18%			809		814,056
Series Q, 5.85%			551		14,412,090
Series S, 5.90%			281		298,211
Series U, 5.88%			2,655		2,907,225

					101,483,669


Security		Par (000)		Value

Capital Markets — 2.6%
Charles Schwab Corp., Series E, 4.63%^(d)(f)(g)	USD		6,805	$	6,822,013
Goldman Sachs Group, Inc., Series L, 6.43%(f)(g)			2,156		2,161,390
Morgan Stanley, Series H, 5.91%^(f)(g)			8,675		8,696,687
State Street Corp.:
3.41%, 06/01/77^(c)			17,845		13,829,875
Series D, 5.90%^(f)(g)			220		5,920,291
Series F, 5.25%^(f)(g)			1,855		1,895,884

					39,326,140

Commercial Services & Supplies — 0.4%
AerCap Global Aviation Trust, 6.50%, 06/15/45^(a)(f)			5,000		5,300,000


Consumer Finance — 0.3%
American Express Co., Series C, 4.90%^(f)(g)			4,510		4,535,752


Diversified Financial Services — 5.7%
Bank of America Corp.,^(f)(g):
Series AA, 6.10%			8,630		9,417,919
Series U, 5.20%^(d)			5,785		5,915,162
Barclays PLC, 6.63%^(f)(g)			3,135		3,133,432
BNP Paribas SA, 6.75%^(a)(f)(g)			5,000		5,225,000
Credit Agricole SA, 8.13%^(a)(f)(g)			5,000		5,793,750
Credit Suisse Group AG, 7.50%^(a)(f)(g)			1,865		1,981,563
HSBC Holdings PLC^(f)(g):
6.00%			1,550		1,559,688
6.50%			2,615		2,726,138
JPMorgan Chase & Co.:
8.75%, 09/01/30			2,000		2,841,013
Series 1, 5.74%^(f)(g)			2,618		2,631,090
Series Q, 5.15%^(f)(g)			4,000		4,079,280
Series R, 6.00%^(d)(f)(g)			14,130		14,871,825
Series S, 6.75%^(d)(f)(g)			9,775		10,842,381
Royal Bank of Scotland Group PLC^(f)(g):
8.00%			970		1,039,113
8.63%			5,135		5,462,356
Societe Generale SA, 7.38%^(a)(f)(g)			1,980		2,061,675


Security		Par (000)		Value

Diversified Financial Services (continued)
UBS Group Funding Switzerland AG, 7.00%^(a)(b)(g)	USD		7,500	$	7,912,500

					87,493,885

Electric Utilities — 0.5%
PPL Capital Funding, Inc., Series A, 4.99%, 03/30/67^(f)			8,300		7,523,950


Insurance — 2.8%
ACE Capital Trust II, 9.70%, 04/01/30^(d)			7,000		10,150,000
Allstate Corp., Series B, 5.75%, 08/15/53^(f)			5,000		5,300,000
American International Group, Inc., 8.18%, 05/15/68^(f)			3,755		5,029,823
Equitable of Iowa Cos. Capital Trust II, Series B, 8.42%, 04/01/27			5,000		5,682,185
Farmers Exchange Capital II, 6.15%, 11/01/53^(a)(f)			4,890		5,732,534
MetLife, Inc., 6.40%, 12/15/66			5,000		5,797,700
Principal Financial Group, Inc., 4.70%, 05/15/55^(f)			5,000		4,972,500

					42,664,742

Media — 0.1%
Viacom, Inc., 5.88%, 02/28/57^(f)			2,111		2,184,885


Oil, Gas & Consumable Fuels — 0.9%
Enbridge, Inc., Series 16-A, 6.00%, 01/15/77^(f)			5,880		6,085,800
Energy Transfer Partners LP, Series B, 6.63%^(b)(g)			5,000		4,750,000
Enterprise Products Operating LLC, 5.30%, 06/01/67^(f)			2,500		2,325,000

					13,160,800

Road & Rail — 0.4%
BNSF Funding Trust I, 6.61%, 12/15/55^(f)			6,125		6,730,058


Wireless Telecommunication Services — 1.4%
Centaur Funding Corp., 9.08%, 04/21/20^(a)			15		15,975,865
Vodafone Group PLC, 7.00%, 04/04/79^(b)			4,745		5,198,741

					21,174,606


Total Capital Trusts — 21.8% (Cost — $315,766,306)					331,578,487


		Shares		Value

Preferred Stocks — 1.8%

Banks — 0.9%
Citigroup, Inc., Series K, 6.88%^(f)(g)			488,320	$	13,917,120


Capital Markets — 0.3%
Goldman Sachs Group, Inc., Series J, 5.50%^(f)(g)			162,450		4,235,071


Electric Utilities — 0.1%
Entergy Louisiana LLC, 5.25%			90,000		2,344,500


Equity Real Estate Investment Trusts (REITs) — 0.1%
Vornado Realty Trust, Series K, 5.70%^(g)			50,000		1,269,500


Media — 0.4%
NBCUniversal Enterprise, Inc., 5.25%^(a)(g)			5,600,000		5,754,000


Total Preferred Stocks — 1.8% (Cost — $25,436,903)					27,520,191


Trust Preferred

Diversified Financial Services — 0.5%
GMAC Capital Trust I, Series 2, 8.30%, 2/15/40^(f)			300,141		7,911,717


Total Trust Preferreds — 0.5% (Cost — $7,299,341)					7,911,717


Total Preferred Securities — 24.1% (Cost — $348,502,550)					367,010,395


		Par (000)

U.S. Government Sponsored Agency Securities — 0.2%

Agency Obligations — 0.2%
Fannie Mae, 0.00%, 10/09/19^(d)(m)	USD		3,945		3,928,246


Total U.S. Government Sponsored Agency Securities — 0.2% (Cost — $3,914,213)					3,928,246


Total Long-Term Investments — 140.7% (Cost — $2,007,211,305)					2,143,683,783



Security	Shares		Value

Short-Term Securities — 2.6%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.20%^(n)(o)		39,485,382	$	39,485,382


Total Short-Term Securities — 2.6% (Cost — $39,485,382)				39,485,382


Options Purchased — 0.0% (Cost — $1,208,396)				615,497


Total Investments Before Options Written — 143.3% (Cost — $2,047,905,083)				2,183,784,662


Options Written — (0.0)% (Premiums Received — $160,602)				(225,629	)


Total Investments, Net of Options Written — 143.3% (Cost — $2,047,744,481)				2,183,559,033

Liabilities in Excess of Other Assets — (43.3)%				(659,670,153	)


Net Assets — 100.0%			$	1,523,888,880

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

The Trust may hold liabilities in which the fair value approximates the carrying amount or face value, including accrued interest, for financial statement purposes. As of period end, reverse repurchase agreements of $677,902,373 are categorized as Level 2 within the disclosure hierarchy.


Affiliate	Shares Held at 10/31/18		Net Activity		Shares Held at 07/31/19		Value at 07/31/19		Income		Net Realized Gain (Loss)^(a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds, T-Fund, Institutional Class		7,903,560		31,581,822		39,485,382	$	39,485,382	$	225,150	$	—	$	—


Currency Abbreviations

EUR		Euro

USD		United States Dollar


Portfolio Abbreviations

ARB		Airport Revenue Bonds

CLO		Collateralized Loan Obligation

CR		Custodian Receipt

FNMA		Federal National Mortgage Association

OTC		Over-the-Counter

PIK		Payment-In-Kind

RB		Revenue Bonds

REIT		Real Estate Investment Trust


Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value / Unrealized Appreciation (Depreciation)
Long Contracts
Ultra Long U.S. Treasury Bond		308		09/19/19	$	54,689	$	1,632,230
Short Contracts 10-Year U.S. Treasury Note		1,061		09/19/19		135,195		59,255
10-Year U.S. Ultra Long Treasury		316		09/19/19		43,559		(707,474	)
Long U.S. Treasury Bond		114		09/19/19		17,738		(480,533	)

								(1,128,752	)

							$	503,478


Reference Obligation/Index	Financing Rate Paid by the Trust	Payment Frequency	Counterparty		Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)		Unrealized Appreciation (Depreciation)
Prudential Financial, Inc.	1.00%	Quarterly		Citibank N.A.		06/20/21		USD	1,920	$	(32,513	)	$	10,690	$	(43,203	)
Prudential Financial, Inc.	1.00	Quarterly		Goldman Sachs International		06/20/21		USD	1,155		(19,558	)		6,840		(26,398	)
Prudential Financial, Inc.	1.00	Quarterly		JPMorgan Chase Bank N.A.		06/20/21		USD	9,500		(160,870	)		46,277		(207,147	)

										$	(212,941	)	$	63,807	$	(276,748	)


	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Long-Term Investments:
Asset-Backed Securities	$	—	$	115,126,921	$	—	$	115,126,921
Corporate Bonds		—		1,597,612,591		10,345,835		1,607,958426
Foreign Agency Obligations		—		31,612,695		—		31,612,695
Municipal Bonds		—		18,047,100		—		18,047,100
Preferred Securities		50,010,289		317,000,106		—		367,010,395
U.S. Government Sponsored Agency Securities		—		3,928,246		—		3,928,246
Short-Term Securities		39,485,382		—		—		39,485,382
Options Purchased
Credit contracts		—		554,955		—		554,955
Interest rate contracts		—		60,542		—		60,542

	$	89,495,671	$	2,083,943,156	$	10,345,835	$	2,183,784,662