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AB Global Bond Fund

Portfolio of Investments

June 30, 2025 (unaudited)


	Principal Amount (000)			U.S. $ Value

GOVERNMENTS - TREASURIES – 45.7%
Australia – 1.2%
Australia Government Bond Series 140 4.50%, 04/21/2033^(a)		AUD	49,861	$	34,094,215
Series 169 4.75%, 06/21/2054^(a)			57,986		37,581,478

					71,675,693


Austria – 0.4%
Republic of Austria Government Bond 0.90%, 02/20/2032^(a)		EUR	19,632		20,696,532


Belgium – 0.4%
Kingdom of Belgium Government Bond Series 100 2.85%, 10/22/2034^(a)			11,236		13,006,725
Series 104 3.45%, 06/22/2042^(a)			11,086		12,721,077

					25,727,802


Canada – 5.8%
Canadian Government Bond 2.75%, 03/01/2030		CAD	433,590		317,047,344
2.75%, 12/01/2055			38,645		24,046,831

					341,094,175


China – 4.1%
China Government Bond Series INBK 1.43%, 01/25/2030		CNY	67,690		9,413,591
1.45%, 04/25/2030			48,980		6,811,754
1.61%, 02/15/2035			38,350		5,308,883
2.11%, 08/25/2034			1,278,620		184,474,683
2.28%, 03/25/2031			226,400		32,743,165

					238,752,076


Finland – 0.2%
Finland Government Bond Series 10Y 1.50%, 09/15/2032^(a)		EUR	10,467		11,351,262


France – 1.3%
French Republic Government Bond OAT Series OAT 3.00%, 11/25/2034^(a)			23,740		27,494,398
3.50%, 11/25/2033^(a)			42,273		51,313,091

					78,807,489


Germany – 3.5%
Bundesobligation Series 191 2.40%, 04/18/2030^(a)			15,100		17,979,011
Bundesrepublik Deutschland Bundesanleihe Series 10Y Zero Coupon, 08/15/2031^(a)			44,032		45,258,222
Series 17Y 2.60%, 05/15/2041^(a)			49,470		55,756,081
Series 32Y 3.25%, 07/04/2042^(a)			70,291		86,072,849

					205,066,163


Indonesia – 0.6%
Indonesia Treasury Bond Series 101 6.875%, 04/15/2029		IDR	512,244,000		32,214,421


	Principal Amount (000)			U.S. $ Value

Italy – 1.6%
Italy Buoni Poliennali Del Tesoro Series 7Y 3.45%, 07/15/2031^(a)		EUR	11,525	$	14,008,842
Series 10Y 4.20%, 03/01/2034^(a)			41,087		51,893,776
Series 13Y 4.05%, 10/30/2037^(a)			17,818		21,914,883
Series 16Y 3.25%, 03/01/2038^(a)			6,560		7,406,300

					95,223,801


Japan – 10.6%
Japan Government Five Year Bond Series 176 1.00%, 12/20/2029		JPY	6,843,300		47,593,352
Japan Government Forty Year Bond Series 16 1.30%, 03/20/2063			2,529,000		10,752,989
Series 18 3.10%, 03/20/2065			150,000		1,042,978
Series 4 2.20%, 03/20/2051			5,289,350		33,429,371
Japan Government Ten Year Bond Series 357 0.10%, 12/20/2029			4,210,700		28,149,818
Japan Government Thirty Year Bond Series 32 2.30%, 03/20/2040			1,300,000		9,377,021
Series 65 0.40%, 12/20/2049			604,000		2,536,240
Series 68 0.60%, 09/20/2050			3,699,600		16,030,933
Series 81 1.60%, 12/20/2053			2,350,700		12,501,971
Series 82 1.80%, 03/20/2054			7,237,400		40,170,361
Series 85 2.30%, 12/20/2054			300,000		1,870,789
Series 86 2.40%, 03/20/2055			6,743,100		42,945,324
Japan Government Twenty Year Bond Series 159 0.60%, 12/20/2036			2,990,600		18,508,612
Series 169 0.30%, 06/20/2039			1,984,250		11,043,839
Series 183 1.40%, 12/20/2042			8,080,800		49,495,105
Series 191 2.00%, 12/20/2044			400,000		2,628,320
Japan Government Two Year Bond Series 468 0.60%, 01/01/2027			6,560,150		45,506,038
Series 469 0.70%, 02/01/2027			34,033,550		236,391,881
Series 471 0.90%, 04/01/2027			1,450,000		10,100,407
Series 473 0.80%, 06/01/2027			500,000		3,476,444

					623,551,793


Malaysia – 0.5%
Malaysia Government Bond Series 0219 3.885%, 08/15/2029		MYR	50,793		12,338,609
Series 0318 4.64%, 11/07/2033			58,543		15,049,465

					27,388,074


	Principal Amount (000)			U.S. $ Value

Mexico – 1.4%
Mexican Bonos Series M 8.00%, 07/31/2053		MXN	202,226	$	8,880,561
8.50%, 02/28/2030			1,425,698		75,469,224

					84,349,785


Peru – 0.5%
Peru Government Bond 6.85%, 08/12/2035^(a)		PEN	108,644		31,565,721


Poland – 1.1%
Republic of Poland Government Bond Series 0730 4.50%, 07/25/2030		PLN	227,803		61,875,311


South Korea – 1.4%
Korea Treasury Bond Series 3412 3.00%, 12/10/2034		KRW	108,308,780		81,140,795


Spain – 0.2%
Spain Government Bond 3.50%, 01/31/2041^(a)		EUR	9,131		10,529,707


United Kingdom – 6.2%
United Kingdom Gilt 0.875%, 01/31/2046^(a)		GBP	42,708		27,042,213
3.50%, 01/22/2045^(a)			1,810		1,979,674
3.75%, 01/29/2038^(a)			10,579		13,176,763
3.75%, 10/22/2053^(a)			253		269,711
4.00%, 10/22/2031^(a)			79,805		108,903,296
4.25%, 07/31/2034^(a)			23,926		32,410,238
4.25%, 12/07/2040^(a)			38,665		49,196,999
4.375%, 03/07/2030^(a)			28,537		39,871,352
4.375%, 01/31/2040^(a)			31,839		41,313,877
4.50%, 03/07/2035^(a)			35,310		48,499,660

					362,663,783


United States – 4.7%
U.S. Treasury Bonds 1.125%, 05/15/2040		U.S.$	131,422		81,707,279
1.125%, 08/15/2040^(b)			122,779		75,552,439
2.50%, 02/15/2045			31,372		22,108,542
4.50%, 11/15/2054			2,585		2,467,766
U.S. Treasury Notes 1.25%, 05/31/2028			48,543		45,275,641
3.50%, 01/31/2030			48,213		47,640,273
3.875%, 08/15/2034			2,879		2,812,228
4.625%, 02/15/2035			740		763,819

					278,327,987


Total Governments - Treasuries (cost $2,726,241,738)					2,682,002,370


CORPORATES - INVESTMENT GRADE – 24.1%
Financial Institutions – 11.4%
Banking – 9.0%
ABN AMRO Bank NV 4.75%, 09/22/2027^(a)^(c)		EUR	5,200		6,102,487
AIB Group PLC 5.32%, 05/15/2031^(a)		U.S.$	1,761		1,789,546
5.87%, 03/28/2035^(a)			331		339,908
Series E 4.625%, 07/23/2029^(a)		EUR	11,650		14,435,633
Ally Financial, Inc. 5.74%, 05/15/2029		U.S.$	320		325,828
6.99%, 06/13/2029			127		133,541
American Express Co. 3.43%, 05/20/2032		EUR	6,938		8,246,068
4.73%, 04/25/2029		U.S.$	129		130,401
5.02%, 04/25/2031			129		131,767
5.085%, 01/30/2031			679		694,446


	Principal Amount (000)			U.S. $ Value

5.39%, 07/28/2027		U.S.$	278	$	280,710
5.67%, 04/25/2036			129		133,630
Banco Bilbao Vizcaya Argentaria SA 6.03%, 03/13/2035			5,200		5,403,029
7.88%, 11/15/2034			7,400		8,385,409
Series E 8.25%, 11/30/2033^(a)		GBP	100		149,396
Series G 3.50%, 02/10/2027^(a)		EUR	100		119,269
Banco de Credito del Peru SA 3.25%, 09/30/2031^(a)		U.S.$	510		493,470
Banco de Sabadell SA Series E 6.00%, 08/16/2033^(a)		EUR	300		378,027
Banco Santander SA 2.75%, 12/03/2030		U.S.$	400		355,536
3.80%, 02/23/2028			400		392,809
4.175%, 03/24/2028			11,800		11,724,623
4.38%, 04/12/2028			200		199,340
5.365%, 07/15/2028			200		203,547
6.03%, 01/17/2035			200		209,860
6.92%, 08/08/2033			1,000		1,080,830
Series E 1.00%, 11/04/2031^(a)		EUR	700		716,291
3.50%, 01/09/2028^(a)			200		239,137
3.50%, 01/09/2030^(a)			300		361,281
4.875%, 10/18/2031^(a)			500		638,563
5.375%, 01/17/2031^(a)		GBP	100		140,232
5.75%, 08/23/2033^(a)		EUR	7,000		8,807,483
Bangkok Bank PCL/Hong Kong 9.025%, 03/15/2029^(a)		U.S.$	440		496,989
Bank Hapoalim BM 3.255%, 01/21/2032^(a)			257		245,998
Bank Leumi Le-Israel BM 3.275%, 01/29/2031^(a)			290		284,284
7.13%, 07/18/2033^(a)			410		420,036
Bank of America Corp. 1.73%, 07/22/2027			614		596,873
2.55%, 02/04/2028			253		245,915
3.705%, 04/24/2028			643		635,495
3.85%, 03/08/2037			240		219,567
3.97%, 03/05/2029			560		553,703
3.97%, 02/07/2030			97		95,513
4.62%, 05/09/2029			55		55,360
4.95%, 07/22/2028			463		468,301
5.46%, 05/09/2036			55		56,432
5.52%, 10/25/2035			437		435,921
5.74%, 02/12/2036			587		596,298
Series B 8.05%, 06/15/2027			930		983,379
Bank of East Asia Ltd. (The) Series E 4.875%, 04/22/2032^(a)			300		295,968
6.75%, 03/15/2027^(a)			250		252,415
6.75%, 06/27/2034^(a)			470		476,580
Bank of Ireland Group PLC 5.60%, 03/20/2030^(a)			3,110		3,204,615
Series E 4.625%, 11/13/2029^(a)		EUR	1,944		2,420,102
Bank of Montreal 3.09%, 01/10/2037		U.S.$	3,515		3,050,446
4.57%, 09/10/2027			392		392,793
Series E 3.75%, 07/10/2030^(a)		EUR	533		643,756
Bank of New York Mellon (The) 4.73%, 04/20/2029		U.S.$	250		253,420
Bank of Nova Scotia (The) 4.59%, 05/04/2037			4,663		4,406,728
4.93%, 02/14/2029			299		302,669
Series E 0.125%, 09/04/2026^(a)		EUR	531		610,091


	Principal Amount (000)			U.S. $ Value

Banque Federative du Credit Mutuel SA 1.25%, 06/03/2030^(a)		EUR	300	$	323,049
5.13%, 05/24/2027^(a)		AUD	8,450		5,650,863
Series E 0.625%, 11/03/2028^(a)		EUR	300		329,084
0.875%, 12/07/2027^(a)		GBP	4,600		5,799,995
1.125%, 01/19/2032^(a)		EUR	100		102,023
1.50%, 10/07/2026^(a)		GBP	100		132,148
4.375%, 05/02/2030^(a)		EUR	200		247,868
5.125%, 01/13/2033^(a)			9,300		11,814,987
Barclays PLC 5.09%, 06/20/2030		U.S.$	612		613,407
5.335%, 09/10/2035			346		342,637
5.37%, 02/25/2031			681		694,311
5.785%, 02/25/2036			402		410,892
6.22%, 05/09/2034			200		211,278
6.375%, 12/15/2025^(a)^(c)		GBP	9,126		12,541,042
7.09%, 11/06/2029^(a)			1,924		2,809,479
7.12%, 06/27/2034		U.S.$	400		435,463
Series E 3.25%, 01/17/2033		GBP	100		118,618
4.92%, 08/08/2030^(a)		EUR	254		319,106
5.26%, 01/29/2034^(a)			557		720,933
8.41%, 11/14/2032^(a)		GBP	5,875		8,614,406
BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX 1.875%, 09/18/2025^(a)		U.S.$	600		594,588
BDO Unibank, Inc. Series E 2.125%, 01/13/2026^(a)			240		236,640
Berlin Hyp AG Series E 1.125%, 10/25/2027^(a)		EUR	200		227,377
BNP Paribas SA 2.16%, 09/15/2029^(a)		U.S.$	444		411,232
4.79%, 05/09/2029^(a)			304		305,298
Series E 0.50%, 02/19/2028^(a)		EUR	300		342,353
0.50%, 09/01/2028^(a)			200		225,325
2.00%, 05/24/2031^(a)		GBP	6,500		8,686,869
2.75%, 07/25/2028^(a)		EUR	500		590,746
3.695%, 02/24/2028^(a)		AUD	1,800		1,160,366
4.75%, 11/13/2032^(a)		EUR	100		126,352
6.00%, 08/18/2029^(a)		GBP	400		570,688
BPCE SA 3.12%, 10/19/2032^(a)		U.S.$	1,100		953,026
5.08%, 10/23/2029^(a)		AUD	500		336,394
5.39%, 05/28/2031^(a)		U.S.$	354		360,458
5.88%, 01/14/2031^(a)			297		307,902
6.27%, 10/24/2028^(a)		AUD	2,870		2,000,793
6.51%, 01/18/2035^(a)		U.S.$	699		722,213
Series E 4.50%, 01/13/2033^(a)		EUR	100		124,217
4.625%, 03/02/2030^(a)			200		248,651
CaixaBank SA 3.50%, 04/06/2028^(a)		GBP	8,600		11,585,381
4.885%, 07/03/2031^(a)		U.S.$	514		515,228
6.84%, 09/13/2034^(a)			5,190		5,683,994
Series E 1.50%, 12/03/2026^(a)		GBP	200		270,664
6.25%, 02/23/2033^(a)		EUR	400		505,079
6.875%, 10/25/2033^(a)		GBP	100		143,954
Canadian Imperial Bank of Commerce 4.86%, 03/30/2029		U.S.$	78		78,826
Capital One Financial Corp. 1.65%, 06/12/2029		EUR	432		484,366
5.82%, 02/01/2034		U.S.$	633		652,801
6.38%, 06/08/2034			611		650,037
7.96%, 11/02/2034			659		765,968


	Principal Amount (000)			U.S. $ Value

Capital One NA 2.70%, 02/06/2030		U.S.$	432	$	397,644
CBQ Finance Ltd. Series E 2.00%, 05/12/2026^(a)			450		438,327
Ceska sporitelna AS Series E 5.74%, 03/08/2028^(a)		EUR	100		123,018
5.94%, 06/29/2027^(a)			400		484,609
Citibank NA 4.58%, 05/29/2027		U.S.$	303		304,602
Citigroup, Inc. 1.46%, 06/09/2027			428		415,900
3.67%, 07/24/2028			144		141,752
3.89%, 01/10/2028			127		125,850
3.98%, 03/20/2030			304		297,846
4.64%, 05/07/2028			55		55,162
4.79%, 03/04/2029			629		633,530
4.95%, 05/07/2031			55		55,630
5.59%, 11/19/2034			10,677		10,836,329
5.83%, 02/13/2035			875		891,966
6.02%, 01/24/2036			332		340,878
6.17%, 05/25/2034			628		655,697
Series AA 7.625%, 11/15/2028^(c)			1,138		1,197,945
Series E 0.50%, 10/08/2027^(a)		EUR	134		154,030
3.75%, 05/14/2032^(a)			401		483,584
Series VAR 3.07%, 02/24/2028		U.S.$	649		634,864
Series W 4.00%, 12/10/2025^(c)			232		230,311
Series Y 4.15%, 11/15/2026^(c)			7,121		6,943,790
Citizens Financial Group, Inc. 5.25%, 03/05/2031			420		425,583
Comerica, Inc. 5.98%, 01/30/2030			129		132,111
Commerzbank AG Series E 4.625%, 01/17/2031^(a)		EUR	9,500		11,813,599
4.875%, 10/16/2034^(a)			300		368,521
Cooperatieve Rabobank UA 4.375%, 06/29/2027^(a)^(c)			200		234,719
4.99%, 05/27/2031^(a)		U.S.$	303		306,635
Credit Agricole SA 1.87%, 12/09/2031^(a)		GBP	1,100		1,443,595
2.625%, 03/17/2027^(a)		EUR	256		301,491
5.22%, 05/27/2031^(a)		U.S.$	354		359,929
5.41%, 01/18/2029^(a)		AUD	9,360		6,358,260
5.75%, 11/29/2027^(a)		GBP	1,200		1,668,411
Series E 1.125%, 07/12/2032^(a)		EUR	100		101,135
Credit Mutuel Arkea SA Series E 1.25%, 06/11/2029^(a)			800		899,607
Danske Bank A/S Series E 2.25%, 01/14/2028^(a)		GBP	6,550		8,674,834
Deutsche Bank AG 1.375%, 02/17/2032^(a)		EUR	100		105,188
Series E 1.625%, 01/20/2027^(a)			100		116,461
1.75%, 11/19/2030^(a)			800		883,424
4.125%, 04/04/2030^(a)			4,800		5,841,706
Deutsche Bank AG/New York NY 3.73%, 01/14/2032		U.S.$	10,551		9,642,472
3.74%, 01/07/2033			2,987		2,679,279
6.82%, 11/20/2029			150		159,794
7.08%, 02/10/2034			616		656,702


	Principal Amount (000)			U.S. $ Value

Deutsche Pfandbriefbank AG Series E 4.00%, 01/27/2028^(a)		EUR	461	$	551,952
4.375%, 08/28/2026^(a)			100		119,283
DNB Bank ASA Series E 4.00%, 08/17/2027^(a)		GBP	316		430,372
4.50%, 07/19/2028^(a)		EUR	268		327,583
Doha Finance Ltd. Series E 2.375%, 03/31/2026^(a)		U.S.$	300		294,345
Fifth Third Bank NA 4.97%, 01/28/2028			250		251,880
First Abu Dhabi Bank PJSC 4.50%, 04/05/2026^(a)^(c)			480		474,749
First Horizon Corp. 5.51%, 03/07/2031			139		141,004
Ford Credit Canada Co./Canada 6.38%, 11/10/2028		CAD	12,312		9,372,575
Goldman Sachs Bank USA/New York NY 5.41%, 05/21/2027		U.S.$	332		334,716
Goldman Sachs Group, Inc. (The) 1.95%, 10/21/2027			668		647,000
2.64%, 02/24/2028			284		275,856
3.615%, 03/15/2028			426		420,279
3.81%, 04/23/2029			307		301,964
4.94%, 04/23/2028			68		68,564
5.02%, 10/23/2035			138		136,334
5.21%, 01/28/2031			247		252,715
5.22%, 04/23/2031			50		51,271
5.33%, 07/23/2035			52		52,618
5.54%, 01/28/2036			53		54,357
Series E 3.50%, 01/23/2033^(a)		EUR	259		307,444
HSBC Holdings PLC 0.64%, 09/24/2029^(a)			129		141,535
0.77%, 11/13/2031^(a)			205		212,639
2.01%, 09/22/2028		U.S.$	327		309,669
2.25%, 11/22/2027			285		276,096
2.85%, 06/04/2031			244		222,699
3.00%, 07/22/2028		GBP	4,375		5,807,400
4.90%, 03/03/2029		U.S.$	691		696,216
5.13%, 03/03/2031			677		684,577
5.55%, 03/04/2030			4,783		4,917,790
5.73%, 05/17/2032			250		259,450
5.87%, 11/18/2035			2,672		2,697,927
6.16%, 03/09/2029			405		420,532
6.36%, 11/16/2032^(a)		EUR	8,812		11,138,092
6.50%, 09/15/2037		U.S.$	103		108,716
7.39%, 11/03/2028			200		212,253
7.40%, 11/13/2034			519		578,256
8.11%, 11/03/2033			656		757,747
Series E 3.125%, 06/07/2028		EUR	752		897,072
7.00%, 04/07/2038^(a)		GBP	100		145,405
ING Groep NV 0.25%, 02/18/2029^(a)		EUR	300		330,071
0.375%, 09/29/2028^(a)			300		336,305
1.75%, 02/16/2031^(a)			100		110,996
4.125%, 08/24/2033^(a)			100		120,387
4.50%, 05/23/2029^(a)			100		123,418
5.25%, 11/14/2033^(a)			200		262,607
Series E 2.125%, 05/26/2031^(a)			200		234,167
Intercorp Peru Ltd. 3.875%, 08/15/2029^(a)		U.S.$	370		346,990
Intesa Sanpaolo SpA 3.875%, 07/14/2027^(a)			200		197,367
5.71%, 01/15/2026^(a)			5,580		5,587,345
6.625%, 06/20/2033^(a)			204		220,694


	Principal Amount (000)			U.S. $ Value

7.20%, 11/28/2033^(a)		U.S.$	2,683	$	3,004,675
7.80%, 11/28/2053^(a)			333		387,415
8.25%, 11/21/2033^(a)			473		547,679
Series E 2.925%, 10/14/2030^(a)		EUR	233		266,631
6.625%, 05/31/2033^(a)		GBP	293		431,643
JPMorgan Chase & Co. 1.47%, 09/22/2027		U.S.$	661		637,709
2.95%, 02/24/2028			720		703,625
3.51%, 01/23/2029			235		230,176
3.54%, 05/01/2028			662		652,316
4.60%, 10/22/2030			259		259,907
4.95%, 10/22/2035			200		197,936
4.98%, 07/22/2028			274		277,495
5.10%, 04/22/2031			522		534,927
5.14%, 01/24/2031			134		137,464
5.50%, 01/24/2036			134		138,075
Series E 0.39%, 02/24/2028^(a)		EUR	274		312,217
1.00%, 07/25/2031^(a)			307		327,885
1.64%, 05/18/2028^(a)			266		308,744
4.46%, 11/13/2031^(a)			14,120		17,724,297
KBC Group NV 5.80%, 01/19/2029^(a)		U.S.$	300		309,436
Series E 0.125%, 01/14/2029^(a)		EUR	100		110,925
4.25%, 11/28/2029^(a)			500		616,568
4.375%, 11/23/2027^(a)			100		120,930
4.375%, 04/19/2030^(a)			100		123,890
6.15%, 03/19/2034^(a)		GBP	1,300		1,838,917
KEB Hana Bank 1.25%, 12/16/2026^(a)		U.S.$	200		191,428
Kookmin Bank 2.50%, 11/04/2030^(a)			410		366,360
Lloyds Banking Group PLC 3.75%, 03/18/2028			285		281,330
4.75%, 05/23/2028^(a)		AUD	1,430		946,987
5.39%, 06/10/2027			5,930		3,944,802
5.72%, 06/05/2030		U.S.$	200		207,552
5.80%, 03/17/2029		AUD	3,450		2,342,587
6.07%, 06/13/2036		U.S.$	477		488,454
7.50%, 09/27/2025^(c)			2,412		2,419,662
7.50%, 06/27/2030^(c)		GBP	228		314,599
Series E 3.125%, 08/24/2030^(a)		EUR	465		550,373
4.75%, 09/21/2031^(a)			5,797		7,317,902
6.625%, 06/02/2033^(a)		GBP	100		142,127
M&T Bank Corp. 5.18%, 07/08/2031		U.S.$	55		55,923
Metropolitan Bank & Trust Co. Series E 5.50%, 03/06/2034^(a)			200		204,000
Mitsubishi UFJ Financial Group, Inc. 5.16%, 04/24/2031			299		305,597
5.35%, 09/13/2028			200		204,067
Series E 4.64%, 06/07/2031^(a)		EUR	240		302,311
Mizuho Financial Group, Inc. 5.38%, 07/10/2030		U.S.$	288		295,955
Series E 4.61%, 08/28/2030^(a)		EUR	200		252,312
Morgan Stanley 0.495%, 10/26/2029			808		882,570
2.475%, 01/21/2028		U.S.$	632		613,652
3.52%, 05/22/2031		EUR	18,605		22,252,292
3.79%, 03/21/2030			247		299,420
4.21%, 04/20/2028		U.S.$	640		638,425
4.66%, 03/02/2029		EUR	100		123,512
4.99%, 04/12/2029		U.S.$	621		630,108


	Principal Amount (000)			U.S. $ Value

5.19%, 04/17/2031		U.S.$	4,369	$	4,480,066
5.23%, 01/15/2031			134		137,404
5.59%, 01/18/2036			223		229,292
5.65%, 04/13/2028			117		119,599
5.66%, 04/17/2036			125		129,577
5.83%, 04/19/2035			127		133,132
6.63%, 11/01/2034			118		130,092
Series G 1.51%, 07/20/2027			707		685,939
4.43%, 01/23/2030			359		358,177
5.15%, 01/25/2034		EUR	539		701,468
Morgan Stanley Bank NA 4.95%, 01/14/2028		U.S.$	610		615,128
5.50%, 05/26/2028			250		255,300
National Australia Bank Ltd. Series G 1.70%, 09/15/2031^(a)		GBP	160		210,372
National Bank of Canada Series E 3.75%, 01/25/2028^(a)		EUR	248		299,794
National Bank of Greece SA Series G 4.50%, 01/29/2029^(a)			109		133,609
Nationwide Building Society 4.375%, 04/16/2034^(a)			427		518,750
5.66% (SOFR + 1.29%), 02/16/2028^(a)^(d)		U.S.$	290		291,722
6.18%, 12/07/2027^(a)		GBP	8,475		11,872,982
NatWest Group PLC 3.03%, 11/28/2035		U.S.$	414		372,770
4.96%, 08/15/2030			295		297,986
5.115%, 05/23/2031			506		513,293
6.475%, 06/01/2034			4,321		4,516,785
Series E 0.78%, 02/26/2030^(a)		EUR	307		335,079
2.105%, 11/28/2031^(a)		GBP	246		325,754
5.76%, 02/28/2034^(a)		EUR	7,135		9,048,041
NatWest Markets PLC Series E 0.125%, 06/18/2026^(a)			198		228,757
NBK Tier 1 Financing 2 Ltd. 4.50%, 08/27/2025^(a)^(c)		U.S.$	290		288,550
Nordea Bank Abp 6.625%, 03/26/2026^(a)^(c)			200		200,961
Piraeus Bank SA Series E 4.625%, 07/17/2029^(a)		EUR	251		308,266
PNC Financial Services Group, Inc. (The) 4.90%, 05/13/2031		U.S.$	55		55,730
5.40%, 07/23/2035			668		680,068
5.575%, 01/29/2036			411		423,701
5.68%, 01/22/2035			267		277,286
QIB Sukuk Ltd. 1.95%, 10/27/2025^(a)			300		296,232
QNB Finance Ltd. Series E 1.375%, 01/26/2026^(a)			510		499,959
1.625%, 09/22/2025^(a)			200		198,619
2.75%, 02/12/2027^(a)			240		233,547
Santander Holdings USA, Inc. 5.47%, 03/20/2029			145		147,373
5.74%, 03/20/2031			483		495,889
6.565%, 06/12/2029			616		645,749
Santander UK Group Holdings PLC 2.47%, 01/11/2028			450		435,584
4.86%, 09/11/2030			2,946		2,937,311
Series E 2.42%, 01/17/2029^(a)		GBP	1,712		2,213,802
7.10%, 11/16/2027^(a)			1,858		2,623,767


	Principal Amount (000)			U.S. $ Value

Scotiabank Peru SAA 6.10%, 10/01/2035^(a)		U.S.$	200	$	202,420
Shinhan Bank Co., Ltd. 4.00%, 04/23/2029^(a)			760		740,476
Series G 4.50%, 03/26/2028^(a)			200		199,230
Societe Generale SA 4.875%, 11/21/2031^(a)		EUR	900		1,131,189
5.25%, 05/22/2029^(a)		U.S.$	504		509,588
5.52%, 01/19/2028^(a)			282		285,197
Series 9 0.40%, 06/03/2026		JPY	100,000		688,532
Series E 4.25%, 12/06/2030^(a)		EUR	100		122,619
Standard Chartered PLC 1.46%, 01/14/2027^(a)		U.S.$	300		294,921
4.87%, 03/15/2033^(a)			580		577,071
4.87%, 05/10/2031^(a)		EUR	395		497,821
5.005%, 10/15/2030^(a)		U.S.$	367		369,895
5.24%, 05/13/2031^(a)			542		549,135
5.70%, 03/26/2044^(a)			330		316,550
6.05% (CME Term SOFR 3 Month + 1.77%), 01/30/2027^(a)^{(c) (d)}			8,000		7,597,034
6.30%, 01/09/2029^(a)			210		217,843
7.77%, 11/16/2028^(a)			279		298,135
Series E 1.625%, 10/03/2027^(a)		EUR	222		258,651
4.375%, 01/18/2038^(a)		GBP	100		120,824
State Street Corp. 4.54%, 04/24/2028		U.S.$	48		48,354
Sumitomo Mitsui Financial Group, Inc. 1.55%, 06/15/2026^(a)		EUR	324		379,474
4.66%, 07/08/2031		U.S.$	206		206,000
Sumitomo Mitsui Trust Bank Ltd. 4.45%, 09/10/2027^(a)			397		398,258
Svenska Handelsbanken AB Series E 4.625%, 08/23/2032^(a)		GBP	6,655		9,058,087
Swedbank AB 7.27%, 11/15/2032^(a)			1,904		2,743,948
Sydbank AS Series G 5.125%, 09/06/2028^(a)		EUR	100		123,909
Synchrony Financial 5.45%, 03/06/2031		U.S.$	160		161,424
5.935%, 08/02/2030			256		262,932
Toronto-Dominion Bank (The) 4.57%, 06/02/2028			54		54,376
4.81%, 06/03/2030			54		54,527
5.15%, 09/10/2034			173		173,463
5.25%, 07/23/2029^(a)		AUD	2,190		1,480,122
Series E 1.95%, 04/08/2030^(a)		EUR	711		794,629
Truist Financial Corp. 5.07%, 05/20/2031		U.S.$	54		54,821
UBS Group AG 3.13%, 08/13/2030^(a)			295		277,831
5.62%, 09/13/2030^(a)			200		207,386
7.00%, 02/10/2030^(a)^(c)			6,470		6,450,863
7.125%, 08/10/2034^(a)^(c)			2,613		2,599,935
7.75%, 03/01/2029^(a)		EUR	102		135,323
9.25%, 11/13/2028^(a)^(c)		U.S.$	1,652		1,800,700
Series E 1.00%, 06/24/2027^(a)		EUR	215		249,688
3.125%, 06/15/2030^(a)			351		416,083
4.75%, 03/17/2032^(a)			816		1,032,219
UniCredit SpA 1.98%, 06/03/2027^(a)		U.S.$	619		603,714
5.86%, 06/19/2032^(a)			11,659		11,740,317


	Principal Amount (000)			U.S. $ Value

United Overseas Bank Ltd. 2.00%, 10/14/2031^(a)		U.S.$	200	$	193,610
Series G 1.75%, 03/16/2031^(a)			250		245,000
US Bancorp 4.01%, 05/21/2032		EUR	250		303,335
4.97%, 07/22/2033		U.S.$	664		655,725
5.42%, 02/12/2036			136		138,671
Virgin Money UK PLC
Series G 4.625%, 10/29/2028^(a)		EUR	100		123,129
5.125%, 12/11/2030^(a)		GBP	135		185,191
Visa, Inc. 2.25%, 05/15/2028		EUR	7,313		8,554,462
Wells Fargo & Co. 2.39%, 06/02/2028		U.S.$	200		192,738
3.53%, 03/24/2028			680		671,006
4.97%, 04/23/2029			426		432,041
5.21%, 12/03/2035			135		135,554
5.24%, 01/24/2031			408		418,539
5.605%, 04/23/2036			50		51,611
5.61%, 01/15/2044			514		497,966
5.71%, 04/22/2028			666		681,009
Series E 1.74%, 05/04/2030^(a)		EUR	10,434		11,768,698
Series G 4.90%, 11/17/2045		U.S.$	17		14,942
Westpac Banking Corp. Series G 4.32%, 11/23/2031			185		183,766
Woori Bank 5.125%, 08/06/2028^(a)			210		212,524
6.375%, 07/24/2029^(a)^(c)			230		233,450
Yorkshire Building Society Series E 0.50%, 07/01/2028^(a)		EUR	553		608,653

					529,445,303


Brokerage – 0.2%
BGC Group, Inc. 6.15%, 04/02/2030^(a)		U.S.$	129		130,844
Blue Owl Finance LLC 6.25%, 04/18/2034			128		131,629
Charles Schwab Corp. (The) 4.89% (SOFR + 0.52%), 05/13/2026^(d)			5,465		5,467,172
China Great Wall International Holdings V Ltd. 2.875%, 11/23/2026^(a)			400		389,604
Nomura Holdings, Inc. 1.85%, 07/16/2025			5,405		5,398,157

					11,517,406


Finance – 0.9%
3i Group PLC 4.875%, 06/14/2029^(a)		EUR	565		706,396
Air Lease Corp. 5.40%, 06/01/2028		CAD	6,005		4,611,562
Aircastle Ltd. 5.25%, 06/15/2026^(a)^(c)		U.S.$	185		183,215
5.95%, 02/15/2029^(a)			1,396		1,442,192
Aircastle Ltd./Aircastle Ireland DAC 5.25%, 03/15/2030^(a)			5,649		5,690,049
Apollo Debt Solutions BDC 6.70%, 07/29/2031			376		390,294
6.90%, 04/13/2029			640		667,625
Ares Capital Corp. 5.50%, 09/01/2030			54		53,818
5.80%, 03/08/2032			135		134,464
7.00%, 01/15/2027			602		621,428


	Principal Amount (000)			U.S. $ Value

Ares Strategic Income Fund 6.20%, 03/21/2032		U.S.$	133	$	133,622
Aviation Capital Group LLC 3.50%, 11/01/2027^(a)			911		887,763
4.125%, 08/01/2025^(a)			23		22,974
4.75%, 04/14/2027^(a)			3,249		3,251,121
Avolon Holdings Funding Ltd. 5.375%, 05/30/2030^(a)			78		79,421
Blackstone Private Credit Fund 5.60%, 11/22/2029			136		136,911
Blackstone Secured Lending Fund 5.30%, 06/30/2030			691		684,503
5.35%, 04/13/2028			400		402,880
Blue Owl Capital Corp. 5.95%, 03/15/2029			652		655,453
Blue Owl Credit Income Corp. 5.80%, 03/15/2030			160		160,466
Blue Owl Technology Finance Corp. 2.50%, 01/15/2027			288		275,912
6.10%, 03/15/2028^(a)			133		133,663
BOC Aviation Ltd. 3.875%, 04/27/2026^(a)			620		617,080
Brookfield Finance, Inc. 4.70%, 09/20/2047			391		333,213
5.81%, 03/03/2055			692		677,174
5.97%, 03/04/2054			181		180,874
6.35%, 01/05/2034			123		131,998
CCBL Cayman 1 Corp., Ltd. Series E 1.80%, 07/22/2026^(a)			400		389,452
CFAMC IV Co., Ltd. Series E 4.50%, 05/29/2029^(a)			200		193,750
CFAMC II Co., Ltd. Series E 4.625%, 06/03/2026^(a)			213		212,787
CIMIC Finance Ltd. Series G 1.50%, 05/28/2029^(a)		EUR	299		327,342
Credicorp Capital Sociedad Titulizadora SA 10.10%, 12/15/2043^(a)		PEN	22,925		6,714,097
FS KKR Capital Corp. 3.125%, 10/12/2028		U.S.$	690		632,440
6.125%, 01/15/2030			136		135,300
Golub Capital Private Credit Fund 5.875%, 05/01/2030			132		131,899
HAT Holdings I LLC/HAT Holdings II LLC 3.375%, 06/15/2026^(a)			142		139,123
8.00%, 06/15/2027^(a)			154		160,230
HPS Corporate Lending Fund 5.30%, 06/05/2027^(a)			55		55,090
5.85%, 06/05/2030^(a)			55		54,915
Intercorp Financial Services, Inc. 4.125%, 10/19/2027^(a)			840		816,438
Oaktree Specialty Lending Corp. 6.34%, 02/27/2030			517		512,022
Oaktree Strategic Credit Fund 6.50%, 07/23/2029			665		681,204
Sixth Street Lending Partners 5.75%, 01/15/2030			272		272,538
6.50%, 03/11/2029			653		674,241
Sixth Street Specialty Lending, Inc. 5.625%, 08/15/2030			305		305,856
Temasek Financial I Ltd. Series E 2.75%, 08/28/2034^(a)		CNH	62,000		8,888,695
3.10%, 08/28/2054^(a)			39,050		5,687,092


	Principal Amount (000)			U.S. $ Value

Wendel SE 4.50%, 06/19/2030^(a)		EUR	400	$	494,636

					50,745,218


Financial Services – 0.1%
Blackstone Private Credit Fund 1.75%, 11/30/2026^(a)			270		312,042
China Cinda 2020 I Management Ltd. Series E 3.00%, 01/20/2031^(a)		U.S.$	510		468,101
3.25%, 01/28/2027^(a)			350		342,454
Equinix Europe 2 Financing Corp. LLC 3.25%, 03/15/2031		EUR	236		275,019
3.65%, 09/03/2033			100		116,592
4.00%, 05/19/2034			2,037		2,405,006
Sammons Financial Group Global Funding 4.95%, 06/12/2030^(a)		U.S.$	55		55,604

					3,974,818


Insurance – 0.7%
AIA Group Ltd. 4.95%, 04/04/2033^(a)			240		242,422
4.95%, 03/30/2035^(a)			250		246,945
Allianz SE 1.30%, 09/25/2049^(a)		EUR	200		216,783
4.43%, 07/25/2055^(a)			100		120,824
5.82%, 07/25/2053^(a)			200		264,995
Series E 4.25%, 07/05/2052^(a)			400		483,572
American National Global Funding 5.25%, 06/03/2030^(a)		U.S.$	54		54,285
Argentum Netherlands BV for Zurich Insurance Co., Ltd. 2.75%, 02/19/2049^(a)		EUR	264		304,044
Series E 3.50%, 10/01/2046^(a)			155		183,870
Athene Global Funding 1.985%, 08/19/2028^(a)		U.S.$	3,086		2,849,545
2.55%, 11/19/2030^(a)			2,565		2,283,874
2.72%, 01/07/2029^(a)			56		52,223
5.32%, 11/13/2031^(a)			123		123,958
5.38%, 01/07/2030^(a)			4,460		4,557,260
5.53%, 07/11/2031^(a)			11,630		11,917,630
5.58%, 01/09/2029^(a)			15		15,412
Series E 0.37%, 09/10/2026^(a)		EUR	107		122,875
Athene Holding Ltd. 6.25%, 04/01/2054		U.S.$	129		127,201
Aviva PLC 4.00%, 06/03/2055^(a)		GBP	135		156,349
AXA SA Series E 1.875%, 07/10/2042^(a)		EUR	301		315,212
3.25%, 05/28/2049^(a)			451		531,685
Berkshire Hathaway, Inc. 2.15%, 03/15/2028			280		327,283
Brown & Brown, Inc. 4.70%, 06/23/2028		U.S.$	55		55,480
4.90%, 06/23/2030			55		55,517
Cigna Group (The) 4.375%, 10/15/2028			7		7,009
4.80%, 07/15/2046			76		66,069
4.90%, 12/15/2048			656		572,542
Cloverie PLC for Zurich Insurance Co., Ltd. Series E 5.625%, 06/24/2046^(a)			889		891,435
CNO Global Funding 5.875%, 06/04/2027^(a)			645		662,385
Corebridge Global Funding 4.85%, 06/06/2030^(a)			55		55,485


	Principal Amount (000)			U.S. $ Value

Credit Agricole Assurances SA 2.00%, 07/17/2030^(a)		EUR	100	$	110,081
Fairfax Financial Holdings Ltd. 5.75%, 05/20/2035^(a)		U.S.$	54		54,747
6.50%, 05/20/2055^(a)			54		55,135
Generali Series E 5.00%, 06/08/2048^(a)		EUR	428		529,755
5.50%, 10/27/2047^(a)			238		295,469
Global Atlantic Fin Co. 7.95%, 06/15/2033^(a)		U.S.$	377		427,241
Great-West Lifeco, Inc. 4.70%, 11/16/2029^(a)		EUR	191		240,551
Guardian Life Global Funding 4.80%, 04/28/2030^(a)		U.S.$	50		50,886
Hannover Rueck SE 5.875%, 08/26/2043^(a)		EUR	200		266,542
Health Care Service Corp. A Mutual Legal Reserve Co. 5.875%, 06/15/2054^(a)		U.S.$	657		639,138
MetLife Capital Trust IV 8.25% (CME Term SOFR 3 Month + 3.96%), 12/15/2037^(a)^(d)			110		120,590
Metropolitan Life Global Funding I 5.40%, 07/11/2029^(a)		AUD	2,537		1,736,478
Series G 3.75%, 12/07/2031^(a)		EUR	249		302,770
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 1.00%, 05/26/2042^(a)			400		397,199
1.25%, 05/26/2041^(a)			100		103,733
4.25%, 05/26/2044^(a)			200		241,707
New York Life Global Funding 4.60%, 06/03/2030^(a)		U.S.$	54		54,511
Series G 1.25%, 12/17/2026^(a)		GBP	100		131,342
New York Life Insurance Co. 4.45%, 05/15/2069^(a)		U.S.$	80		62,297
Northwestern Mutual Global Funding 4.60%, 06/03/2030^(a)			54		54,581
Northwestern Mutual Life Insurance Co. (The) 6.17%, 05/29/2055^(a)			54		56,387
Pacific Life Global Funding II 4.45%, 05/01/2028^(a)			129		129,995
Phoenix Group Holdings PLC Series E 4.375%, 01/24/2029^(a)		EUR	252		303,182
Principal Life Global Funding II 4.60%, 08/19/2027^(a)		U.S.$	186		187,155
4.80%, 01/09/2028^(a)			348		352,226
Prudential Financial, Inc. 4.50%, 09/15/2047			267		262,679
5.70%, 09/15/2048			635		642,409
RGA Global Funding 5.25%, 01/09/2030^(a)			82		84,084
Sammons Financial Group, Inc. 6.875%, 04/15/2034^(a)			131		140,297
Sogecap SA 5.00%, 04/03/2045^(a)		EUR	100		120,616
Swiss Re Finance UK PLC Series E 2.71%, 06/04/2052^(a)			400		437,564
Swiss RE Subordinated Finance PLC Series E 3.89%, 03/26/2033^(a)			178		210,802
UnitedHealth Group, Inc. 4.40%, 06/15/2028		U.S.$	100		100,483
4.95%, 05/15/2062			481		413,555
5.50%, 04/15/2064			129		120,510
5.75%, 07/15/2064			562		546,445
6.05%, 02/15/2063			111		112,517


	Principal Amount (000)			U.S. $ Value

Zurich Finance Ireland Designated Activity Co. Series E 1.875%, 09/17/2050^(a)		EUR	348	$	378,148
5.125%, 11/23/2052^(a)		GBP	100		134,550

					38,472,526


REITs – 0.5%
Agree LP 5.60%, 06/15/2035		U.S.$	353		359,358
Akelius Residential Property Financing BV Series E 0.75%, 02/22/2030^(a)		EUR	100		103,549
Alexandria Real Estate Equities, Inc. 5.50%, 10/01/2035		U.S.$	76		76,795
American Homes 4 Rent LP 4.95%, 06/15/2030			357		360,531
5.50%, 07/15/2034			658		666,394
American Tower Corp. 0.40%, 02/15/2027		EUR	131		149,282
0.50%, 01/15/2028			196		218,757
0.875%, 05/21/2029			7,478		8,152,809
0.95%, 10/05/2030			146		153,579
3.625%, 05/30/2032			152		180,113
3.65%, 03/15/2027		U.S.$	264		260,812
4.625%, 05/16/2031		EUR	316		397,149
4.90%, 03/15/2030		U.S.$	138		140,017
5.35%, 03/15/2035			54		55,039
Aroundtown SA Series E 0.375%, 04/15/2027^(a)		EUR	100		112,528
4.80%, 07/16/2029^(a)			100		122,758
Boston Properties LP 2.75%, 10/01/2026		U.S.$	642		627,774
Brixmor Operating Partnership LP 5.20%, 04/01/2032			38		38,378
CBRE Services, Inc. 4.80%, 06/15/2030			129		129,539
5.50%, 04/01/2029			643		664,583
5.50%, 06/15/2035			129		129,895
5.95%, 08/15/2034			54		56,875
Cousins Properties LP 5.25%, 07/15/2030			55		55,999
Crown Castle, Inc. 1.05%, 07/15/2026			90		86,687
2.90%, 03/15/2027			680		661,926
5.60%, 06/01/2029			624		644,508
Digital Dutch Finco BV 1.00%, 01/15/2032^(a)		EUR	115		114,968
1.25%, 02/01/2031^(a)			100		104,578
Digital Stout Holding LLC 3.30%, 07/19/2029^(a)		GBP	100		129,996
Equinix, Inc. 0.25%, 03/15/2027		EUR	100		113,235
Essential Properties LP 2.95%, 07/15/2031		U.S.$	260		231,168
GLP Capital LP/GLP Financing II, Inc. 4.00%, 01/15/2030			260		249,905
5.625%, 09/15/2034			292		291,210
Host Hotels & Resorts LP 5.70%, 06/15/2032			55		55,810
Newmark Group, Inc. 7.50%, 01/12/2029			152		161,025
NNN REIT, Inc. 4.60%, 02/15/2031			308		306,390
Omega Healthcare Investors, Inc. 5.20%, 07/01/2030			100		100,601
Phillips Edison Grocery Center Operating Partnership I LP 5.25%, 08/15/2032			55		55,491


	Principal Amount (000)			U.S. $ Value

Praemia Healthcare SACA 0.875%, 11/04/2029^(a)		EUR	300	$	319,034
Prologis International Funding II SA Series E 1.625%, 06/17/2032^(a)			1,949		2,025,904
Public Storage Operating Co. 4.375%, 07/01/2030		U.S.$	56		55,842
Realty Income Corp. 3.375%, 06/20/2031		EUR	423		496,601
5.25%, 09/04/2041		GBP	115		143,819
6.00%, 12/05/2039			100		137,065
Simon Property Group LP 4.75%, 09/26/2034		U.S.$	216		210,275
Sirius Real Estate Ltd. 1.125%, 06/22/2026^(a)		EUR	200		231,085
Swire Properties MTN Financing Ltd. Series E 3.40%, 09/03/2029^(a)		CNH	40,000		5,717,955
Tritax EuroBox PLC 0.95%, 06/02/2026^(a)		EUR	169		195,904
Trust Fibra Uno 4.87%, 01/15/2030^(a)		U.S.$	5,466		5,176,575
6.39%, 01/15/2050^(a)			205		169,842
7.375%, 02/13/2034^(a)			236		239,540
8.25%, 01/23/2037^(a)			200		210,500
Vicinity Centres Trust Series E 1.125%, 11/07/2029^(a)		EUR	181		195,122
Vonovia SE Series E 0.75%, 09/01/2032^(a)			300		290,050
Wharf REIC Finance BVI Ltd. Series E 2.875%, 05/07/2030^(a)		U.S.$	260		239,624

					32,574,748

					666,730,019


Industrial – 10.4%
Basic – 0.6%
Air Products & Chemicals, Inc. 3.25%, 06/16/2032		EUR	6,482		7,576,770
Alpek SAB de CV 3.25%, 02/25/2031^(a)		U.S.$	200		174,822
4.25%, 09/18/2029^(a)			1,496		1,421,667
Amcor Flexibles North America, Inc. 4.80%, 03/17/2028^(a)			137		138,043
5.10%, 03/17/2030^(a)			137		139,333
Amcor Group Finance PLC 5.45%, 05/23/2029			651		668,599
Amcor UK Finance PLC 1.125%, 06/23/2027		EUR	103		117,994
Anglo American Capital PLC 2.625%, 09/10/2030^(a)		U.S.$	320		288,764
2.875%, 03/17/2031^(a)			316		285,012
4.125%, 03/15/2032^(a)		EUR	250		301,864
5.625%, 04/01/2030^(a)		U.S.$	297		307,177
5.75%, 04/05/2034^(a)			200		205,526
AngloGold Ashanti Holdings PLC 3.375%, 11/01/2028			403		384,710
3.75%, 10/01/2030			208		195,000
Antofagasta PLC 6.25%, 05/02/2034^(a)			460		477,149
BHP Billiton Finance USA Ltd. 5.30%, 02/21/2035			201		204,606
Celulosa Arauco y Constitucion SA 5.50%, 04/30/2049^(a)			260		226,260
6.18%, 05/05/2032^(a)			240		244,464
Dow Chemical Co. (The) 5.35%, 03/15/2035			137		136,266
6.90%, 05/15/2053			111		119,474


	Principal Amount (000)			U.S. $ Value

Freeport Indonesia PT 4.76%, 04/14/2027^(a)		U.S.$	320	$	319,904
5.315%, 04/14/2032^(a)			204		203,926
Freeport-McMoRan, Inc. 4.25%, 03/01/2030			420		411,845
Fresnillo PLC 4.25%, 10/02/2050^(a)			240		172,200
Glencore Capital Finance DAC Series E 1.25%, 03/01/2033^(a)		EUR	215		211,954
4.15%, 04/29/2031^(a)			260		316,075
Glencore Funding LLC 4.91%, 04/01/2028^(a)		U.S.$	129		130,261
5.19%, 04/01/2030^(a)			33		33,646
5.63%, 04/04/2034^(a)			261		266,433
5.67%, 04/01/2035^(a)			78		79,574
Gold Fields Orogen Holdings BVI Ltd. 6.125%, 05/15/2029^(a)			200		207,437
Industrias Penoles SAB de CV 4.75%, 08/06/2050^(a)			230		174,342
Inversiones CMPC SA 3.00%, 04/06/2031^(a)			210		185,522
6.125%, 02/26/2034^(a)			482		492,739
LG Chem Ltd. 2.375%, 07/07/2031^(a)			310		265,937
LYB International Finance BV 4.875%, 03/15/2044			662		558,569
LYB International Finance II BV 0.875%, 09/17/2026		EUR	214		246,868
LYB International Finance III LLC 6.15%, 05/15/2035		U.S.$	78		80,941
Ma’aden Sukuk Ltd. 5.25%, 02/13/2030^(a)			340		345,668
5.50%, 02/13/2035^(a)			262		266,504
MEGlobal BV 2.625%, 04/28/2028^(a)			260		244,616
Nexa Resources SA 6.75%, 04/09/2034^(a)			230		240,376
Nutrien Ltd. 4.50%, 03/12/2027			38		38,101
OCP SA 6.10%, 04/30/2030^(a)			3,689		3,730,501
Orbia Advance Corp. SAB de CV 6.80%, 05/13/2030^(a)			10,439		10,694,755
7.50%, 05/13/2035^(a)			568		588,885
POSCO 5.75%, 01/17/2028^(a)			200		205,264
Rio Tinto Finance USA PLC 4.875%, 03/14/2030			138		140,518
5.00%, 03/14/2032			138		140,005
Smurfit Kappa Treasury ULC 1.50%, 09/15/2027^(a)		EUR	265		305,995
Sociedad Quimica y Minera de Chile SA 5.50%, 09/10/2034^(a)		U.S.$	550		536,937
6.50%, 11/07/2033^(a)			250		264,219
Southern Copper Corp. 7.50%, 07/27/2035			200		229,412
Suzano Austria GmbH Series DM3N 3.125%, 01/15/2032			300		263,248
Vale Overseas Ltd. 6.125%, 06/12/2033			200		209,591

					36,416,268


Capital Goods – 0.5%
3M Co. 1.50%, 06/02/2031		EUR	396		426,679
2.875%, 10/15/2027		U.S.$	672		652,951
3.05%, 04/15/2030			25		23,496
3.625%, 09/14/2028			589		579,183


	Principal Amount (000)			U.S. $ Value

4.80%, 03/15/2030		U.S.$	139	$	141,309
5.15%, 03/15/2035			139		140,107
Series E 1.75%, 05/15/2030		EUR	247		275,254
Boeing Co. (The) 3.25%, 02/01/2028		U.S.$	99		96,024
Carrier Global Corp. 4.125%, 05/29/2028		EUR	247		302,331
CNH Industrial Capital LLC 4.75%, 03/21/2028		U.S.$	101		101,764
CNH Industrial Finance Europe SA Series E 1.75%, 03/25/2027^(a)		EUR	100		116,356
CNH Industrial NV Series E 3.75%, 06/11/2031^(a)			559		669,982
CRH SMW Finance DAC 5.125%, 01/09/2030		U.S.$	673		688,859
Series E 4.00%, 07/11/2027^(a)		EUR	190		230,624
4.25%, 07/11/2035^(a)			137		167,144
Eaton Capital ULC 3.80%, 05/21/2036^(a)			252		299,188
GE Capital Funding LLC 4.55%, 05/15/2032		U.S.$	518		514,555
GE Capital UK Funding Unlimited Co. Series E 5.875%, 01/18/2033		GBP	100		143,893
General Electric Co. Series E 4.125%, 09/19/2035^(a)		EUR	365		449,478
Holcim Finance Luxembourg SA Series E 0.625%, 04/06/2030^(a)			134		141,538
Holcim Sterling Finance Netherlands BV Series E 2.25%, 04/04/2034^(a)		GBP	100		107,277
IDEX Corp. 3.00%, 05/01/2030		U.S.$	279		259,456
John Deere Capital Corp. Series I 4.55%, 06/05/2030			356		359,432
John Deere Financial Ltd. 5.05%, 06/28/2029		AUD	12,710		8,591,368
Johnson Controls International PLC/Tyco Fire & Security Finance SCA 0.375%, 09/15/2027		EUR	100		112,561
Komatsu Finance America, Inc. 5.50%, 10/06/2027^(a)		U.S.$	374		382,900
L3Harris Technologies, Inc. 5.40%, 01/15/2027			638		648,815
Lockheed Martin Corp. 5.90%, 11/15/2063			233		239,961
Metso Oyj Series E 0.875%, 05/26/2028^(a)		EUR	179		200,294
Northrop Grumman Corp. 5.25%, 07/15/2035		U.S.$	148		150,845
Parker-Hannifin Corp. 2.90%, 03/01/2030		EUR	8,422		9,847,097
Republic Services, Inc. 4.75%, 07/15/2030		U.S.$	402		409,559
RTX Corp. 2.15%, 05/18/2030		EUR	1,172		1,331,444
3.50%, 03/15/2027		U.S.$	548		541,507
UltraTech Cement Ltd. 2.80%, 02/16/2031^(a)			210		187,652


	Principal Amount (000)			U.S. $ Value

Veralto Corp. 4.15%, 09/19/2031		EUR	421	$	516,143

					30,047,026


Communications - Media – 0.2%
Charter Communications Operating LLC/Charter Communications Operating Capital 2.25%, 01/15/2029		U.S.$	121		111,507
5.75%, 04/01/2048			149		135,581
6.48%, 10/23/2045			115		113,938
Cox Communications, Inc. 5.45%, 09/01/2034^(a)			681		671,618
5.70%, 06/15/2033^(a)			63		63,776
5.95%, 09/01/2054^(a)			136		125,875
Grupo Televisa SAB 4.625%, 01/30/2026			200		197,904
5.00%, 05/13/2045			270		193,558
6.625%, 01/15/2040			350		327,096
ITV PLC Series E 4.25%, 06/19/2032^(a)		EUR	100		119,715
Meta Platforms, Inc. 4.45%, 08/15/2052		U.S.$	61		51,411
5.40%, 08/15/2054			7		6,825
5.55%, 08/15/2064			1,140		1,114,399
5.75%, 05/15/2063			309		311,757
Paramount Global 4.375%, 03/15/2043			878		646,553
5.85%, 09/01/2043			288		250,208
Prosus NV 3.06%, 07/13/2031^(a)			674		596,490
3.68%, 01/21/2030^(a)			1,062		997,484
3.83%, 02/08/2051^(a)			200		128,143
TDF Infrastructure SASU 5.625%, 07/21/2028^(a)		EUR	300		376,831
Tencent Holdings Ltd. 2.39%, 06/03/2030^(a)		U.S.$	510		466,803
2.88%, 04/22/2031^(a)			200		185,339
Time Warner Cable Enterprises LLC 8.375%, 07/15/2033			360		418,812
Time Warner Cable LLC 5.25%, 07/15/2042		GBP	100		116,016
7.30%, 07/01/2038		U.S.$	273		297,527
Warnermedia Holdings, Inc. 4.05%, 03/15/2029			192		156,394
5.05%, 03/15/2042			850		501,802

					8,683,362


Communications - Telecommunications – 0.6%
America Movil SAB de CV 6.125%, 11/15/2037			200		211,812
6.125%, 03/30/2040			300		312,480
AT&T, Inc. 4.30%, 11/18/2034		EUR	282		348,631
4.60%, 09/19/2028^(a)		AUD	6,050		4,022,902
5.375%, 08/15/2035		U.S.$	55		55,977
6.05%, 08/15/2056			55		56,189
Axiata SPV2 Bhd Series E 2.16%, 08/19/2030^(a)			200		178,242
Bell Telephone Co. of Canada or Bell Canada 3.00%, 03/17/2031		CAD	714		500,102
5.85%, 11/10/2032			10,096		8,139,196
Deutsche Telekom International Finance BV 3.60%, 01/19/2027^(a)		U.S.$	642		634,874
Empresa Nacional de Telecomunicaciones SA 4.75%, 08/01/2026^(a)			200		200,450
Koninklijke KPN NV Series G 5.75%, 09/17/2029^(a)		GBP	75		107,522


	Principal Amount (000)			U.S. $ Value

Ooredoo International Finance Ltd. 2.625%, 04/08/2031^(a)		U.S.$	420	$	377,336
4.625%, 10/10/2034^(a)			200		195,589
PLDT, Inc. 2.50%, 01/23/2031^(a)			200		179,000
PT Tower Bersama Infrastructure Tbk 2.80%, 05/02/2027^(a)			200		191,500
SES GLOBAL Americas Holdings, Inc. 5.30%, 03/25/2044^(a)			379		279,138
SingTel Group Treasury Pte. Ltd. Series E 2.375%, 08/28/2029^(a)			290		269,996
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC 5.15%, 03/20/2028^(a)			595		598,492
T-Mobile USA, Inc. 3.75%, 04/15/2027			625		618,696
5.25%, 06/15/2055			84		76,597
5.875%, 11/15/2055			129		129,314
TDC Net A/S Series E 5.06%, 05/31/2028^(a)		EUR	299		367,158
5.62%, 02/06/2030^(a)			237		296,934
Telia Co. AB 0.125%, 11/27/2030^(a)			271		273,739
TELUS Corp. 3.40%, 05/13/2032		U.S.$	398		362,457
7.00%, 10/15/2055			5,606		5,654,212
Series CAG 5.25%, 11/15/2032		CAD	11,257		8,761,691
Verizon Communications, Inc. 0.375%, 03/22/2029		EUR	256		276,215
4.50%, 08/17/2027^(a)		AUD	5,520		3,664,417
5.25%, 04/02/2035		U.S.$	51		51,419
Vodafone Group PLC Series E 3.00%, 08/12/2056^(a)		GBP	100		76,870

					37,469,147


Consumer Cyclical - Automotive – 0.7%
American Honda Finance Corp. 3.50%, 06/27/2031		EUR	349		410,650
Series E 3.65%, 04/23/2031			148		176,000
Aptiv Swiss Holdings Ltd. 5.75%, 09/13/2054		U.S.$	553		492,157
BMW US Capital LLC 4.65%, 03/19/2027^(a)			580		583,188
4.75%, 03/21/2028^(a)			78		78,849
4.85%, 08/13/2031^(a)			8		8,043
5.05%, 03/21/2030^(a)			129		131,404
5.40%, 03/21/2035^(a)			129		129,993
BorgWarner, Inc. 1.00%, 05/19/2031		EUR	229		233,121
Cummins, Inc. 5.45%, 02/20/2054		U.S.$	652		631,733
Ford Motor Credit Co. LLC 3.375%, 11/13/2025			200		198,631
3.815%, 11/02/2027			676		652,515
5.11%, 05/03/2029			1,311		1,282,015
6.50%, 02/07/2035			662		661,435
6.80%, 05/12/2028			200		206,729
7.35%, 11/04/2027			622		645,956
7.35%, 03/06/2030			3,396		3,583,808
General Motors Co. 5.20%, 04/01/2045			283		242,607
5.40%, 04/01/2048			676		588,121
General Motors Financial Co., Inc. 2.35%, 02/26/2027			94		90,593
2.40%, 04/10/2028			471		442,802


	Principal Amount (000)			U.S. $ Value

3.10%, 01/12/2032		U.S.$	29	$	25,450
5.00%, 07/15/2027			54		54,320
5.05%, 04/04/2028			138		139,058
5.35%, 07/15/2027			137		139,013
5.35%, 01/07/2030			135		136,576
5.45%, 07/15/2030			54		54,779
5.60%, 06/18/2031			131		133,624
5.625%, 04/04/2032			75		75,818
5.90%, 01/07/2035			135		135,600
6.15%, 07/15/2035			54		55,155
General Motors Financial of Canada Ltd. 5.10%, 07/14/2028		CAD	2,944		2,233,274
Harley-Davidson Financial Services, Inc. 3.05%, 02/14/2027^(a)		U.S.$	3		2,916
5.95%, 06/11/2029^(a)			1,232		1,253,091
Honda Motor Co., Ltd. 4.44%, 07/08/2028			56		56,051
Hyundai Capital America 2.375%, 10/15/2027^(a)			300		285,298
4.85%, 03/25/2027^(a)			129		129,494
4.875%, 11/01/2027^(a)			167		167,767
5.10%, 06/24/2030^(a)			53		53,571
5.15%, 03/27/2030^(a)			129		130,469
5.25%, 01/08/2027^(a)			4,163		4,201,927
5.40%, 03/29/2032^(a)			129		130,624
5.40%, 06/23/2032^(a)			53		53,657
5.68%, 06/26/2028^(a)			6,331		6,498,131
6.10%, 09/21/2028^(a)			59		61,327
6.50%, 01/16/2029^(a)			147		154,899
Hyundai Capital Services, Inc. 5.125%, 02/05/2029^(a)			320		323,162
Hyundai Motor Manufacturing Indonesia PT Series E 1.75%, 05/06/2026^(a)			250		243,950
Magna International, Inc. 5.875%, 06/01/2035			134		137,358
Mercedes-Benz Finance North America LLC 4.75%, 08/01/2027^(a)			341		343,515
Stellantis NV Series E 0.75%, 01/18/2029^(a)		EUR	181		196,555
4.25%, 06/16/2031^(a)			300		360,489
Toyota Finance Australia Ltd. 4.65%, 09/17/2029		AUD	12,010		7,996,368
Toyota Motor Corp. 4.45%, 06/30/2030		U.S.$	56		56,185
Toyota Motor Credit Corp. 4.80%, 05/15/2030			303		307,732
Volkswagen Group of America Finance LLC 4.60%, 06/08/2029^(a)			364		359,713

					38,157,266


Consumer Cyclical - Entertainment – 0.0%
Mattel, Inc. 3.75%, 04/01/2029^(a)			673		644,944


Consumer Cyclical - Other – 0.6%
Flutter Treasury DAC 4.00%, 06/04/2031^(a)		EUR	3,369		3,972,770
5.00%, 04/29/2029^(a)			506		617,806
6.125%, 06/04/2031^(a)		GBP	2,882		3,986,298
GENM Capital Labuan Ltd. 3.88%, 04/19/2031^(a)		U.S.$	9,753		8,753,318
Gohl Capital Ltd. 4.25%, 01/24/2027^(a)			290		285,396
HOCHTIEF AG Series E 4.25%, 05/31/2030^(a)		EUR	338		415,253
JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. 5.50%, 01/15/2036^(a)		U.S.$	55		54,926


	Principal Amount (000)			U.S. $ Value

JH North America Holdings, Inc. 5.875%, 01/31/2031^(a)		U.S.$	4,050	$	4,085,470
6.125%, 07/31/2032^(a)			65		66,081
Kingspan Securities Ireland DAC Series E 3.50%, 10/31/2031^(a)		EUR	132		156,027
Las Vegas Sands Corp. 3.90%, 08/08/2029		U.S.$	410		390,069
5.625%, 06/15/2028			4,315		4,402,549
6.00%, 06/14/2030			2,540		2,619,757
Marriott International, Inc./MD 5.10%, 04/15/2032			20		20,258
5.35%, 03/15/2035			107		107,882
5.50%, 04/15/2037			1,073		1,073,150
MDC Holdings, Inc. 6.00%, 01/15/2043			5,611		5,058,672
Owens Corning 5.50%, 06/15/2027			7		7,155
5.70%, 06/15/2034			129		133,956
PulteGroup, Inc. 6.375%, 05/15/2033			44		47,176
Sands China Ltd. 2.85%, 03/08/2029^(e)			277		254,330
3.25%, 08/08/2031^(e)			450		395,831
4.375%, 06/18/2030^(e)			499		477,046

					37,381,176


Consumer Cyclical - Restaurants – 0.0%
Darden Restaurants, Inc. 3.85%, 05/01/2027			658		652,600
Starbucks Corp. 4.50%, 05/15/2028			559		561,798
4.80%, 05/15/2030			55		55,683

					1,270,081


Consumer Cyclical - Retailers – 0.1%
Alimentation Couche-Tard, Inc. 4.01%, 02/12/2036^(a)		EUR	457		532,218
CK Hutchison International 21 Ltd. 2.50%, 04/15/2031^(a)		U.S.$	460		411,442
Dick’s Sporting Goods, Inc. 4.10%, 01/15/2052			368		262,484
Dollarama, Inc. 5.53%, 09/26/2028		CAD	231		180,765
El Puerto de Liverpool SAB de CV 6.66%, 01/22/2037^(a)		U.S.$	200		206,880
Home Depot, Inc. (The) 3.90%, 06/15/2047			143		112,530
4.25%, 04/01/2046			539		451,251
4.95%, 09/15/2052			247		224,420
5.30%, 06/25/2054			52		49,898
5.95%, 04/01/2041			50		52,790
Lowe’s Cos., Inc. 4.05%, 05/03/2047			98		76,258
5.625%, 04/15/2053			120		115,469
5.75%, 07/01/2053			122		119,314
5.80%, 09/15/2062			484		468,279
Pandora A/S Series E 3.875%, 05/31/2030^(a)		EUR	144		173,641
Ralph Lauren Corp. 5.00%, 06/15/2032		U.S.$	508		515,809
Tapestry, Inc. 5.50%, 03/11/2035			137		137,511
Target Corp. 5.25%, 02/15/2036			53		53,475

					4,144,434


Consumer Non-Cyclical – 1.9%
Alcon Finance Corp. 2.60%, 05/27/2030^(a)			290		265,496


	Principal Amount (000)			U.S. $ Value

3.00%, 09/23/2029^(a)		U.S.$	280	$	263,674
Altria Group, Inc. 2.45%, 02/04/2032			746		643,502
3.125%, 06/15/2031		EUR	4,504		5,217,438
3.70%, 02/04/2051		U.S.$	553		382,683
4.25%, 08/09/2042			849		691,312
5.625%, 02/06/2035			500		510,052
5.80%, 02/14/2039			578		585,469
6.875%, 11/01/2033			79		88,241
American Medical Systems Europe BV 3.00%, 03/08/2031		EUR	7,318		8,605,030
Anheuser-Busch InBev SA/NV Series E 1.65%, 03/28/2031^(a)			728		797,432
3.95%, 03/22/2044^(a)			360		414,711
Asahi Group Holdings Ltd. 0.34%, 04/19/2027^(a)			535		606,824
Barry Callebaut Services NV 4.00%, 06/14/2029^(a)			600		712,806
BAT Capital Corp. 4.54%, 08/15/2047		U.S.$	14		11,311
5.35%, 08/15/2032			87		88,993
5.625%, 08/15/2035			138		140,308
6.25%, 08/15/2055			138		139,618
BAT International Finance PLC Series E 2.25%, 01/16/2030^(a)		EUR	143		162,755
4.125%, 04/12/2032^(a)			11,373		13,750,168
5.75%, 07/05/2040		GBP	83		108,167
BAT Netherlands Finance BV Series E 5.375%, 02/16/2031^(a)		EUR	300		387,292
Becton Dickinson & Co. 3.83%, 06/07/2032			308		370,864
British American Tobacco PLC Series NC8 3.75%, 06/27/2029^(a)^(c)			477		547,279
Cardinal Health, Inc. 3.41%, 06/15/2027		U.S.$	699		688,587
5.35%, 11/15/2034			136		138,601
Cargill, Inc. 3.875%, 04/24/2030^(a)		EUR	5,792		7,089,863
4.375%, 04/22/2052^(a)		U.S.$	187		153,228
5.125%, 02/11/2035^(a)			1,036		1,042,965
Cencora, Inc. 2.875%, 05/22/2028		EUR	145		171,425
3.45%, 12/15/2027		U.S.$	426		417,874
Cencosud SA 4.375%, 07/17/2027^(a)			230		227,845
Cia Cervecerias Unidas SA 3.35%, 01/19/2032^(a)			200		177,050
Coca-Cola Co. (The) 1.25%, 03/08/2031		EUR	170		183,032
3.50%, 05/14/2044			207		228,899
CommonSpirit Health 3.82%, 10/01/2049		U.S.$	364		268,314
4.19%, 10/01/2049			401		311,396
CVS Health Corp. 5.70%, 06/01/2034			203		208,990
6.00%, 06/01/2044			428		422,830
Dentsply Sirona, Inc. 3.25%, 06/01/2030			711		648,894
Electrolux AB Series E 4.50%, 09/29/2028^(a)		EUR	289		352,845
Eli Lilly & Co. 4.95%, 02/27/2063		U.S.$	600		544,860
5.10%, 02/09/2064			130		120,832
5.20%, 08/14/2064			596		563,817
5.60%, 02/12/2065			301		304,369


	Principal Amount (000)			U.S. $ Value

GE HealthCare Technologies, Inc. 4.80%, 01/15/2031		U.S.$	55	$	55,449
General Mills, Inc. 3.60%, 04/17/2032		EUR	13,835		16,346,994
GlaxoSmithKline Capital, Inc. 4.50%, 04/15/2030		U.S.$	138		139,132
Hershey Co. (The) 5.10%, 02/24/2035			383		388,971
Illumina, Inc. 4.65%, 09/09/2026			137		137,159
Imperial Brands Finance PLC 3.875%, 07/26/2029^(a)			526		509,289
4.50%, 06/30/2028^(a)			4,522		4,518,217
5.625%, 07/01/2035^(a)			513		512,958
5.875%, 07/01/2034^(a)			385		393,903
Series E 3.875%, 02/12/2034^(a)		EUR	191		221,033
Indofood CBP Sukses Makmur Tbk PT 3.40%, 06/09/2031^(a)		U.S.$	490		448,904
Jazz Securities DAC 4.375%, 01/15/2029^(a)			1,827		1,765,407
JT International Financial Services BV Series E 4.125%, 06/17/2035^(a)		EUR	152		179,738
Kellanova 3.75%, 05/16/2034			250		297,070
Keurig Dr. Pepper, Inc. 3.20%, 05/01/2030		U.S.$	148		139,522
4.60%, 05/15/2030			129		129,630
Kraft Heinz Foods Co. 3.25%, 03/15/2033		EUR	625		718,658
5.20%, 03/15/2032		U.S.$	401		408,199
Kroger Co. (The) 2.65%, 10/15/2026			248		243,005
5.50%, 09/15/2054			54		51,215
Loblaw Cos. Ltd. 6.54%, 02/17/2033^(a)		CAD	3,182		2,652,680
Louis Dreyfus Co. Finance BV 3.50%, 10/22/2031^(a)		EUR	259		302,233
Mars, Inc. 4.45%, 03/01/2027^(a)		U.S.$	138		138,574
4.60%, 03/01/2028^(a)			79		79,655
4.80%, 03/01/2030^(a)			138		139,802
5.00%, 03/01/2032^(a)			138		139,845
5.20%, 03/01/2035^(a)			108		109,271
5.65%, 05/01/2045^(a)			138		138,124
McKesson Corp. 4.65%, 05/30/2030			55		55,436
Merck & Co., Inc. 5.15%, 05/17/2063			191		175,864
Molson Coors Beverage Co. 3.80%, 06/15/2032		EUR	224		269,245
Mondelez International, Inc. 4.50%, 05/06/2030		U.S.$	347		346,625
5.125%, 05/06/2035			55		55,180
MSD Netherlands Capital BV 3.70%, 05/30/2044		EUR	366		412,224
3.75%, 05/30/2054			249		268,081
Mylan, Inc. 5.20%, 04/15/2048		U.S.$	201		159,486
5.40%, 11/29/2043			730		613,510
Nestle Holdings, Inc. 5.25%, 09/21/2026^(a)		GBP	100		138,622
PepsiCo, Inc. 4.65%, 02/15/2053		U.S.$	48		42,343
Pfizer Netherlands International Finance BV 2.875%, 05/19/2029		EUR	3,445		4,088,881
3.25%, 05/19/2032			192		228,352
Pfizer, Inc. 7.20%, 03/15/2039		U.S.$	95		112,770


	Principal Amount (000)			U.S. $ Value

Philip Morris International, Inc. 1.75%, 11/01/2030		U.S.$	734	$	639,743
4.125%, 04/28/2028			129		128,738
4.375%, 11/01/2027			633		635,881
4.375%, 04/30/2030			433		431,872
4.75%, 02/12/2027			37		37,326
4.875%, 04/30/2035			129		127,264
4.875%, 11/15/2043			646		591,329
5.125%, 11/17/2027			238		242,740
5.625%, 11/17/2029			32		33,598
5.625%, 09/07/2033			267		279,761
Pilgrim’s Pride Corp. 6.875%, 05/15/2034			4		4,391
REWE International Finance BV 4.875%, 09/13/2030^(a)		EUR	400		504,499
Saputo, Inc. 5.25%, 11/29/2029		CAD	13,719		10,707,486
5.49%, 11/20/2030			6,874		5,433,852
Sutter Health Series 2025 5.54%, 08/15/2035		U.S.$	140		144,788
Sysco Corp. 5.10%, 09/23/2030			299		306,564
Takeda US Financing, Inc. 5.20%, 07/07/2035			514		514,041
Thermo Fisher Scientific Finance I BV 1.625%, 10/18/2041		EUR	261		220,805
Upjohn Finance BV 1.36%, 06/23/2027^(a)			220		251,876
Viatris, Inc. 2.70%, 06/22/2030		U.S.$	4,021		3,582,171
3.85%, 06/22/2040			947		698,958
4.00%, 06/22/2050			235		156,561
Viterra Finance BV Series E 1.00%, 09/24/2028^(a)		EUR	281		311,402

					114,014,843


Energy – 1.9%
Adnoc Murban Rsc Ltd. 5.125%, 09/11/2054^(a)		U.S.$	200		181,125
APA Infrastructure Ltd. Series E 2.00%, 07/15/2030^(a)		EUR	560		622,090
BP Capital Markets America, Inc. 5.23%, 11/17/2034		U.S.$	147		149,456
BP Capital Markets BV Series E 4.32%, 05/12/2035^(a)		EUR	100		123,186
BP Capital Markets PLC 3.25%, 03/22/2026^(a)⁽^c)			3,699		4,359,932
3.625%, 03/22/2029^(a)^(c)			8,895		10,399,687
4.25%, 03/22/2027^(a)^(c)		GBP	328		441,766
4.375%, 08/19/2031^(a)^(c)		EUR	212		250,097
4.75%, 08/28/2029^(a)		AUD	9,360		6,263,370
Canadian Natural Resources Ltd. 3.85%, 06/01/2027		U.S.$	140		138,641
Cheniere Energy Partners LP 5.55%, 10/30/2035^(a)			186		187,482
Colonial Pipeline Co. 4.25%, 04/15/2048^(a)			821		624,832
ConocoPhillips Co. 4.025%, 03/15/2062			210		151,195
5.55%, 03/15/2054			205		195,840
5.65%, 01/15/2065			53		50,324
Continental Resources, Inc./OK 2.875%, 04/01/2032^(a)			2,050		1,723,677
4.375%, 01/15/2028			204		201,149
Devon Energy Corp. 7.95%, 04/15/2032			3,761		4,318,092


	Principal Amount (000)			U.S. $ Value

Enbridge, Inc. 4.60%, 06/20/2028		U.S.$	54	$	54,405
4.90%, 06/20/2030			54		54,547
6.10%, 11/09/2032		CAD	16,978		13,869,015
Energy Transfer LP 5.55%, 05/15/2034		U.S.$	94		95,232
5.60%, 09/01/2034			192		194,913
6.20%, 04/01/2055			137		134,910
Eni SpA 5.75%, 05/19/2035^(a)			3,117		3,176,819
Enterprise Products Operating LLC Series E 5.25%, 08/16/2077			96		94,899
EOG Resources, Inc. 5.65%, 12/01/2054			199		194,642
Exxon Mobil Corp. 4.23%, 03/19/2040			215		192,221
Greensaif Pipelines Bidco SARL 5.85%, 02/23/2036^(a)			200		201,987
Hanwha Energy USA Holdings Corp. 4.375%, 07/02/2028^(a)			250		250,683
Harbour Energy PLC 6.33%, 04/01/2035^(a)			149		147,910
KazMunayGas National Co. JSC 3.50%, 04/14/2033^(a)			334		288,285
5.75%, 04/19/2047^(a)			260		223,746
Kinder Morgan, Inc. 2.25%, 03/16/2027		EUR	530		620,491
5.15%, 06/01/2030		U.S.$	50		51,075
5.85%, 06/01/2035			115		119,180
MPLX LP 4.95%, 03/14/2052			516		427,471
5.65%, 03/01/2053			271		249,475
ONEOK Partners LP 6.65%, 10/01/2036			36		38,676
ONEOK, Inc. 5.05%, 11/01/2034			317		308,534
5.20%, 07/15/2048			588		511,709
5.65%, 09/01/2034			106		107,403
5.70%, 11/01/2054			637		587,592
6.05%, 09/01/2033			2,049		2,151,539
ORLEN SA 6.00%, 01/30/2035^(a)			380		389,690
Ovintiv, Inc. 7.375%, 11/01/2031			461		503,759
Pluspetrol Camisea SA/Pluspetrol Lote 56 SA 6.24%, 07/03/2036^(a)			230		236,359
Qatarenergy LNG S3 5.84%, 09/30/2027^(a)			225		228,667
Raizen Fuels Finance SA 5.70%, 01/17/2035^(a)			220		205,549
6.25%, 07/08/2032^(a)			260		257,404
6.45%, 03/05/2034^(a)			5,285		5,260,522
6.70%, 02/25/2037^(a)			3,880		3,795,293
6.95%, 03/05/2054^(a)			230		213,370
Reliance Industries Ltd. 3.625%, 01/12/2052^(a)			300		205,164
Repsol International Finance BV 4.25%, 09/11/2028^(a)^(c)		EUR	390		467,045
SA Global Sukuk Ltd. 1.60%, 06/17/2026^(a)		U.S.$	350		339,850
Saudi Arabian Oil Co. 2.25%, 11/24/2030^(a)			1,100		975,194
3.25%, 11/24/2050^(a)			410		260,223
5.75%, 07/17/2054^(a)			242		225,375
5.875%, 07/17/2064^(a)			522		474,368
Snam SpA Series E Zero Coupon, 12/07/2028^(a)		EUR	387		415,093


	Principal Amount (000)			U.S. $ Value

Sweihan PV Power Co. PJSC 3.625%, 01/31/2049^(a)		U.S.$	452	$	372,391
Targa Resources Corp. 4.90%, 09/15/2030			95		95,849
5.55%, 08/15/2035			302		303,518
5.65%, 02/15/2036			104		104,963
6.25%, 07/01/2052			454		449,677
Tennessee Gas Pipeline Co. LLC 2.90%, 03/01/2030^(a)			250		230,853
Terega SASU 0.625%, 02/27/2028^(a)		EUR	200		221,741
Thaioil Treasury Center Co., Ltd. 2.50%, 06/18/2030^(a)		U.S.$	330		286,928
TotalEnergies Capital International SA Series E 1.66%, 07/22/2026^(a)		GBP	300		400,468
TotalEnergies SE 2.00%, 01/17/2027^(a)^(c)		EUR	11,880		13,716,643
4.12%, 11/19/2029^(a)^(c)			548		652,120
Series NC7 1.625%, 10/25/2027^(a)^(c)			1,929		2,178,420
TransCanada PipeLines Ltd. 5.33%, 05/12/2032		CAD	227		178,040
Transportadora de Gas del Peru SA 4.25%, 04/30/2028^(a)		U.S.$	120		118,726
Transportadora de Gas Internacional SA ESP 5.55%, 11/01/2028^(a)			200		202,500
Var Energi ASA 5.875%, 05/22/2030^(a)			2,182		2,234,215
6.50%, 05/22/2035^(a)			1,179		1,217,754
7.50%, 01/15/2028^(a)			6,774		7,179,123
Venture Global Calcasieu Pass LLC 3.875%, 08/15/2029^(a)			1,988		1,875,805
Williams Cos., Inc. (The) 4.625%, 06/30/2030			416		416,382
Wintershall Dea Finance BV 1.82%, 09/25/2031^(a)		EUR	8,500		8,812,909
4.36%, 10/03/2032^(a)			2,549		3,005,819
Woodside Finance Ltd. 5.40%, 05/19/2030		U.S.$	75		75,950
6.00%, 05/19/2035			194		197,472

					113,710,491


Other Industrial – 0.1%
Alfa Desarrollo SpA 4.55%, 09/27/2051^(a)			306		224,521
CITIC Ltd. Series E 2.85%, 02/25/2030^(a)			250		234,237
Duke University Series 2020 2.83%, 10/01/2055			1,099		671,102
Ferguson Finance PLC 4.65%, 04/20/2032^(a)			624		609,311
LKQ Dutch Bond BV 4.125%, 03/13/2031		EUR	188		225,170
Mitsui & Co., Ltd. 2.19%, 01/19/2027^(a)		U.S.$	677		654,732
President & Fellows of Harvard College 3.30%, 07/15/2056			575		392,966
University of Miami Series 2022 4.06%, 04/01/2052			840		653,219
University of Southern California 4.98%, 10/01/2053			448		413,061
Washington University (The) Series 2022 3.52%, 04/15/2054			941		674,133


	Principal Amount (000)			U.S. $ Value

Worley US Finance Sub Ltd. Series E 0.875%, 06/09/2026^(a)		EUR	531	$	615,591
WW Grainger, Inc. 4.60%, 06/15/2045		U.S.$	234		206,700

					5,574,743


Services – 0.9%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031			430		380,266
2.80%, 11/28/2029^(a)		CNH	97,910		13,950,208
5.25%, 05/26/2035^(a)		U.S.$	200		202,257
Amazon.com, Inc. 4.10%, 04/13/2062			65		50,769
Booking Holdings, Inc. 4.00%, 03/01/2044		EUR	100		112,588
4.50%, 11/15/2031			3,282		4,131,944
4.75%, 11/15/2034			233		296,778
Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV 8.50%, 01/15/2031^(a)		GBP	424		622,744
Chicago Parking Meters LLC 4.93%, 12/30/2025		U.S.$	16,500		16,442,219
Global Payments, Inc. 4.875%, 03/17/2031		EUR	8,702		10,750,350
ISS Global A/S Series E 0.875%, 06/18/2026^(a)			106		123,291
Mastercard, Inc. 1.00%, 02/22/2029			278		309,479
3.85%, 03/26/2050		U.S.$	209		164,915
4.55%, 01/15/2035			355		348,914
4.95%, 03/15/2032			473		486,611
PayPal Holdings, Inc. 5.50%, 06/01/2054			130		127,246
RELX Capital, Inc. 4.75%, 03/27/2030			129		130,727
5.25%, 03/27/2035			129		131,883
Rentokil Initial Finance BV Series E 4.375%, 06/27/2030^(a)		EUR	100		124,400
Securitas Treasury Ireland DAC Series E 4.375%, 03/06/2029^(a)			100		123,332
Visa, Inc. 4.30%, 12/14/2045		U.S.$	650		565,334
Worldline SA/France Series E 4.125%, 09/12/2028^(a)		EUR	300		310,971

					49,887,226


Technology – 1.6%
AAC Technologies Holdings, Inc. 3.75%, 06/02/2031^(a)		U.S.$	290		265,997
Allegion US Holding Co., Inc. 5.60%, 05/29/2034			256		262,902
Alphabet, Inc. 2.50%, 05/06/2029		EUR	5,446		6,409,210
3.00%, 05/06/2033			178		208,036
5.25%, 05/15/2055		U.S.$	253		249,075
Amdocs Ltd. 2.54%, 06/15/2030			295		266,885
Amphenol Corp. 4.375%, 06/12/2028			55		55,381
Analog Devices, Inc. 1.70%, 10/01/2028			300		278,048
4.50%, 06/15/2030			55		55,431
Apple, Inc. 4.20%, 05/12/2030			202		202,926


	Principal Amount (000)			U.S. $ Value

ASML Holding NV 1.375%, 07/07/2026^(a)		EUR	100	$	116,774
Baidu, Inc. 2.375%, 08/23/2031		U.S.$	320		285,389
2.70%, 03/12/2030^(a)		CNH	47,140		6,668,285
3.00%, 03/12/2035^(a)			46,220		6,626,594
Booz Allen Hamilton, Inc. 5.95%, 04/15/2035		U.S.$	84		85,699
Broadridge Financial Solutions, Inc. 2.90%, 12/01/2029			697		653,198
CDW LLC/CDW Finance Corp. 3.25%, 02/15/2029			436		413,285
Cisco Systems, Inc. 4.75%, 02/24/2030			82		83,822
Concentrix Corp. 6.65%, 08/02/2026			638		649,571
Dell International LLC/EMC Corp. 4.75%, 04/01/2028			129		130,535
5.00%, 04/01/2030			129		131,079
5.30%, 04/01/2032			172		175,635
5.50%, 04/01/2035			182		183,836
8.35%, 07/15/2046			125		159,007
DXC Capital Funding DAC 0.95%, 09/15/2031^(a)		EUR	568		564,434
Fidelity National Information Services, Inc. 2.00%, 05/21/2030			5,327		5,984,058
Fiserv Funding ULC 3.50%, 06/15/2032			8,927		10,487,636
Fiserv, Inc. 1.625%, 07/01/2030			6,488		7,086,683
2.25%, 06/01/2027		U.S.$	277		266,833
4.50%, 05/24/2031		EUR	471		586,387
Fortive Corp. 3.15%, 06/15/2026		U.S.$	519		512,089
Foundry JV Holdco LLC 5.90%, 01/25/2033^(a)			6,027		6,249,401
6.10%, 01/25/2036^(a)			300		310,719
6.15%, 01/25/2032^(a)			1,156		1,215,498
6.25%, 01/25/2035^(a)			3,565		3,742,766
Foxconn Far East Ltd. Series E 2.50%, 10/28/2030^(a)			200		180,493
Hewlett Packard Enterprise Co. 4.45%, 09/25/2026			139		139,230
6.35%, 10/15/2045^(e)			647		663,523
Honeywell International, Inc. Series 4Y 3.50%, 05/17/2027		EUR	8,594		10,334,117
1.10%, 03/01/2027		U.S.$	706		672,147
1.75%, 09/01/2031			763		651,206
2.50%, 11/01/2026			433		423,434
3.375%, 03/01/2030		EUR	100		120,166
3.75%, 03/01/2036			100		117,146
4.125%, 11/02/2034			234		287,754
HP, Inc. 2.65%, 06/17/2031		U.S.$	714		630,694
3.00%, 06/17/2027			331		323,082
4.75%, 01/15/2028			258		261,002
5.40%, 04/25/2030			125		128,368
6.10%, 04/25/2035			125		129,377
IBM International Capital Pte. Ltd. 4.60%, 02/05/2027			101		101,566
5.30%, 02/05/2054			129		120,142
Intel Corp. 3.75%, 03/25/2027			407		402,855
International Business Machines Corp. 1.70%, 05/15/2027			653		624,376
1.75%, 01/31/2031		EUR	509		559,647
2.20%, 02/09/2027		U.S.$	100		96,981
3.50%, 05/15/2029			100		97,180


	Principal Amount (000)			U.S. $ Value

3.625%, 02/06/2031		EUR	240	$	290,459
4.00%, 06/20/2042		U.S.$	178		147,416
4.15%, 07/27/2027			276		276,078
4.25%, 05/15/2049			100		80,563
4.90%, 07/27/2052			284		251,611
5.10%, 02/06/2053			100		91,021
5.20%, 02/10/2035			136		137,961
5.70%, 02/10/2055			136		134,489
Intuit, Inc. 1.35%, 07/15/2027			400		379,208
5.50%, 09/15/2053			178		176,577
Keysight Technologies, Inc. 5.35%, 07/30/2030			135		139,248
KLA Corp. 4.95%, 07/15/2052			119		108,310
Lam Research Corp. 4.875%, 03/15/2049			277		252,389
Leidos, Inc. 4.375%, 05/15/2030			656		646,913
Lenovo Group Ltd. 3.42%, 11/02/2030^(a)			818		761,558
Marvell Technology, Inc. 4.75%, 07/15/2030			55		55,250
Micron Technology, Inc. 6.05%, 11/01/2035			129		134,924
Open Text Corp. 6.90%, 12/01/2027^(a)			610		632,081
Oracle Corp. 2.80%, 04/01/2027			653		636,471
4.10%, 03/25/2061			362		261,165
4.80%, 08/03/2028			678		689,049
5.25%, 02/03/2032			56		57,454
6.00%, 08/03/2055			678		676,940
6.125%, 08/03/2065			136		136,026
6.50%, 04/15/2038			382		415,258
6.90%, 11/09/2052			287		319,130
QUALCOMM, Inc. 6.00%, 05/20/2053			23		24,188
Renesas Electronics Corp. 2.17%, 11/25/2026^(a)			877		847,640
Salesforce, Inc. 2.70%, 07/15/2041			494		354,973
SAP SE 1.625%, 03/10/2031^(a)		EUR	100		110,620
ServiceNow, Inc. 1.40%, 09/01/2030		U.S.$	752		651,501
SK Hynix, Inc. 2.375%, 01/19/2031^(a)			260		229,702
TD SYNNEX Corp. 1.75%, 08/09/2026			249		240,865
Teleperformance SE Series E 3.75%, 06/24/2029^(a)		EUR	400		480,450
Texas Instruments, Inc. 4.50%, 05/23/2030		U.S.$	55		55,613
5.10%, 05/23/2035			55		56,026
TSMC Global Ltd. 1.375%, 09/28/2030^(a)			540		464,481
2.25%, 04/23/2031^(a)			790		702,760
VMware LLC 1.40%, 08/15/2026			684		661,803
1.80%, 08/15/2028			31		28,679
3.90%, 08/21/2027			642		636,776
Workday, Inc. 3.50%, 04/01/2027			265		261,664

					92,382,880


	Principal Amount (000)			U.S. $ Value

Transportation - Airlines – 0.2%
Alaska Airlines 2020-1 Class A Pass Through Trust 4.80%, 08/15/2027^(a)		U.S.$	496	$	495,469
AS Mileage Plan IP Ltd. 5.02%, 10/20/2029^(a)			7,622		7,544,841
5.31%, 10/20/2031^(a)			173		171,544
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025^(a)			47		47,178
4.75%, 10/20/2028^(a)			681		682,404
easyJet PLC Series E 3.75%, 03/20/2031^(a)		EUR	100		119,959
United Airlines 2020-1 Class A Pass Through Trust Series 20-1 5.875%, 10/15/2027		U.S.$	623		634,597
United Airlines, Inc. 4.375%, 04/15/2026^(a)			2,341		2,324,359

					12,020,351


Transportation - Railroads – 0.3%
Canadian National Railway Co. 3.60%, 08/01/2047		CAD	355		220,957
Lima Metro Line 2 Finance Ltd. 4.35%, 04/05/2036^(a)		U.S.$	381		357,982
5.875%, 07/05/2034^(a)			227		229,839
MTR Corp., Ltd. Series E 2.75%, 09/20/2034^(a)		CNH	76,620		11,024,846
3.05%, 09/20/2054^(a)			40,000		5,755,597

					17,589,221


Transportation - Services – 0.2%
Abertis Infraestructuras SA Series E 3.375%, 11/27/2026^(a)		GBP	100		134,399
Adani Ports & Special Economic Zone Ltd. 3.83%, 02/02/2032^(a)		U.S.$	290		247,950
Aeroporti di Roma SpA Series E 4.875%, 07/10/2033^(a)		EUR	199		251,414
Autostrade per l’Italia SpA 2.00%, 12/04/2028^(a)			170		194,672
DSV Finance BV Series E 3.25%, 11/06/2030^(a)			100		118,597
ENA Master Trust 4.00%, 05/19/2048^(a)		U.S.$	1,716		1,241,423
Heathrow Funding Ltd. 6.45%, 12/10/2031^(a)		GBP	2,905		4,261,901
Series E 1.875%, 03/14/2034^(a)		EUR	298		301,909
3.875%, 01/16/2036^(a)			373		433,419
HPHT Finance 21 Ltd. 2.00%, 03/19/2026^(a)		U.S.$	250		245,377
International Distribution Services PLC 1.25%, 10/08/2026^(a)		EUR	146		168,867
Motability Operations Group PLC Series E 3.875%, 01/24/2034^(a)			244		291,527
4.25%, 06/17/2035^(a)			361		440,114
4.875%, 01/17/2043^(a)		GBP	100		119,573
Ryder System, Inc. 4.85%, 06/15/2030		U.S.$	129		130,190
5.00%, 03/15/2030			287		290,975
Sats Treasury Pte. Ltd. Series G 4.83%, 01/23/2029^(a)			200		203,352


	Principal Amount (000)			U.S. $ Value

Varanasi Aurangabad Nh-2 Tollway Pvt. Ltd. 5.90%, 02/28/2034^(a)		U.S.$	290		$ 296,656

					9,372,315

					608,765,774


Utility – 2.3%
Electric – 1.3%
Abu Dhabi National Energy Co. PJSC 4.75%, 03/09/2037^(a)			200		191,126
4.875%, 04/23/2030^(a)			420		427,350
Adani Electricity Mumbai Ltd. 3.95%, 02/12/2030^(a)			490		437,325
Adani Transmission Step-One Ltd. 4.00%, 08/03/2026^(a)			8,086		7,964,710
AEP Transmission Co. LLC 5.15%, 04/01/2034			283		286,418
5.375%, 06/15/2035			190		194,094
AES Andes SA 6.25%, 03/14/2032^(a)			200		204,600
6.30%, 03/15/2029^(a)			200		204,691
AES Panama Generation Holdings SRL 4.375%, 05/31/2030^(a)			612		556,506
Alexander Funding Trust II 7.47%, 07/31/2028^(a)			2,863		3,061,258
Ameren Illinois Co. 5.625%, 03/01/2055			54		53,429
American Electric Power Co., Inc. 6.95%, 12/15/2054			148		154,676
Black Hills Corp. 5.95%, 03/15/2028			2		2,072
CenterPoint Energy Houston Electric LLC 4.95%, 04/01/2033			29		29,134
5.05%, 03/01/2035			319		318,868
Chile Electricity PEC SpA Zero Coupon, 01/25/2028^(f)			201		175,971
Cometa Energia SA de CV 6.375%, 04/24/2035^(a)			297		305,530
Commonwealth Edison Co. Series 132 3.15%, 03/15/2032			340		309,749
Consolidated Edison Co. of New York, Inc. 4.50%, 05/15/2058			102		82,840
Consorcio Transmantaro SA 5.20%, 04/11/2038^(a)			460		436,310
Dominion Energy, Inc. 5.45%, 03/15/2035			138		139,223
Duke Energy Carolinas LLC 5.25%, 03/15/2035			397		405,798
Duke Energy Corp. 3.10%, 06/15/2028		EUR	241		285,715
3.75%, 04/01/2031			570		681,054
5.80%, 06/15/2054		U.S.$	52		50,855
Duke Energy Ohio, Inc. 4.30%, 02/01/2049			130		104,510
5.30%, 06/15/2035			305		309,786
5.55%, 03/15/2054			131		128,007
E.ON SE Series E 0.75%, 02/20/2028^(a)		EUR	390		438,843
EDP Servicios Financieros Espana SA Series E 3.50%, 07/16/2030^(a)			2,567		3,082,872
3.50%, 07/21/2031^(a)			11,600		13,853,131
Electricite de France SA Series E 6.00%, 01/29/2026^(a)^(c)		GBP	500		687,183
Series MPLE 5.99%, 05/23/2030^(a)		CAD	4,109		3,271,232
Emirates Semb Corp. Water & Power Co. PJSC 4.45%, 08/01/2035^(a)		U.S.$	220		205,960


	Principal Amount (000)			U.S. $ Value

Enel Finance International NV 3.625%, 05/25/2027^(a)		U.S.$	410	$	404,713
4.75%, 05/25/2047^(a)			319		266,978
6.00%, 10/07/2039^(a)			236		241,525
7.75%, 10/14/2052^(a)			200		238,472
Series E 0.875%, 01/17/2031^(a)		EUR	453		474,164
Engie Energia Chile SA 3.40%, 01/28/2030^(a)		U.S.$	250		230,750
6.375%, 04/17/2034^(a)			485		500,035
Engie SA 1.50%, 05/30/2028^(a)^(c)		EUR	100		110,947
Series E 2.125%, 03/30/2032^(a)			200		219,785
Entergy Louisiana LLC 5.70%, 03/15/2054		U.S.$	130		128,292
5.80%, 03/15/2055			298		298,312
Entergy Mississippi LLC 5.80%, 04/15/2055			450		451,132
Entergy Texas, Inc. 5.55%, 09/15/2054			116		110,789
Florida Power & Light Co. 4.125%, 06/01/2048			125		101,276
5.30%, 06/15/2034			138		142,279
5.30%, 04/01/2053			130		124,391
Iberdrola Finanzas SA 5.38%, 11/28/2030^(a)		AUD	1,700		1,152,914
Iberdrola International BV Series NC8 2.25%, 01/28/2029^(a)^(c)		EUR	200		223,628
Israel Electric Corp., Ltd. Series G 3.75%, 02/22/2032^(a)		U.S.$	290		258,306
4.25%, 08/14/2028^(a)			3,001		2,911,690
Kallpa Generacion SA 5.875%, 01/30/2032^(a)			330		336,986
LG Energy Solution Ltd. 5.375%, 04/02/2030^(a)			490		490,392
5.875%, 04/02/2035^(a)			390		386,927
LLPL Capital Pte. Ltd. 6.875%, 02/04/2039^(a)			574		584,541
Minejesa Capital BV 4.625%, 08/10/2030^(a)			1,018		995,414
National Grid Electricity Transmission PLC Series E 5.27%, 01/18/2043^(a)		GBP	100		124,485
National Grid PLC Series E 0.55%, 09/18/2029^(a)		EUR	3,731		3,979,561
3.245%, 03/30/2034^(a)			112		127,675
Nevada Power Co. Series GG 5.90%, 05/01/2053		U.S.$	385		383,700
NextEra Energy Capital Holdings, Inc. 4.80%, 12/01/2077			290		277,181
Niagara Energy SAC 5.75%, 10/03/2034^(a)			390		385,369
Niagara Mohawk Power Corp. 4.65%, 10/03/2030^(a)			194		194,000
5.29%, 01/17/2034^(a)			7,216		7,193,951
6.00%, 07/03/2055^(a)			56		56,000
Ohio Edison Co. 4.95%, 12/15/2029^(a)			98		99,347
Oklahoma Gas & Electric Co. 5.80%, 04/01/2055			51		50,891
Oncor Electric Delivery Co. LLC 3.625%, 06/15/2034^(a)		EUR	589		692,757
5.35%, 04/01/2035^(a)		U.S.$	90		91,779
5.55%, 06/15/2054			132		127,846
5.80%, 04/01/2055^(a)			129		129,523


	Principal Amount (000)			U.S. $ Value

Pacific Gas & Electric Co. 3.30%, 12/01/2027		U.S.$	665	$	643,297
3.95%, 12/01/2047			867		610,419
4.00%, 12/01/2046			940		672,349
PacifiCorp 4.15%, 02/15/2050			390		297,501
5.10%, 02/15/2029			23		23,470
6.35%, 07/15/2038			110		117,103
Public Service Co. of Colorado 5.35%, 05/15/2034			301		305,461
Public Service Co. of New Hampshire 4.40%, 07/01/2028			54		54,306
Public Service Co. of Oklahoma 5.20%, 01/15/2035			353		353,006
5.45%, 01/15/2036			55		55,402
Public Service Electric & Gas Co. Series Q 5.50%, 03/01/2055			287		283,645
Puget Sound Energy, Inc. 5.685%, 06/15/2054			131		128,521
RH International Singapore Corp. Pte. Ltd. Series E 4.50%, 03/27/2028^(a)			200		196,164
RWE AG Series E 1.00%, 11/26/2033^(a)		EUR	346		334,323
San Diego Gas & Electric Co. 5.40%, 04/15/2035		U.S.$	533		544,340
Sierra Pacific Power Co. 5.90%, 03/15/2054			178		178,552
Southern California Edison Co. 4.875%, 02/01/2027			636		639,611
5.25%, 03/15/2030			87		87,818
5.70%, 03/01/2053			120		107,884
5.875%, 12/01/2053			617		563,524
5.90%, 03/01/2055			367		335,781
SSE PLC Series E 8.375%, 11/20/2028^(a)		GBP	3,585		5,494,814
TenneT Holding BV 2.37%, 07/22/2025^(a)^(c)		EUR	125		147,184
TNB Global Ventures Capital Bhd 4.85%, 11/01/2028^(a)		U.S.$	430		435,590
Virginia Electric & Power Co. 5.55%, 08/15/2054			135		130,538
5.65%, 03/15/2055			508		500,649
Vistra Operations Co. LLC 5.05%, 12/30/2026^(a)			71		71,361
6.95%, 10/15/2033^(a)			693		761,810
Xcel Energy, Inc. 4.75%, 03/21/2028			641		647,373
5.60%, 04/15/2035			54		55,094

					79,116,419


Natural Gas – 0.4%
Cadent Finance PLC Series E 0.625%, 03/19/2030^(a)		EUR	13,144		13,854,004
3.75%, 04/16/2033^(a)			266		315,003
5.75%, 03/14/2034^(a)		GBP	100		139,406
Centrica PLC Series E 4.375%, 03/13/2029^(a)			120		162,948
Grupo Energia Bogota SA ESP 7.85%, 11/09/2033^(a)		U.S.$	200		222,056
National Grid North America, Inc. Series E 1.05%, 01/20/2031^(a)		EUR	804		841,788
3.25%, 11/25/2029^(a)			1,664		1,976,068
3.63%, 09/03/2031^(a)			2,987		3,581,011


	Principal Amount (000)			U.S. $ Value

4.15%, 09/12/2027^(a)		EUR	187	$	227,289
4.67%, 09/12/2033^(a)			269		338,916
NorteGas Energia Distribucion SA Series E 2.065%, 09/28/2027^(a)			269		310,872
Southern California Gas Co. 6.00%, 06/15/2055		U.S.$	353		359,787
Southern Gas Networks PLC Series E 3.50%, 10/16/2030^(a)		EUR	558		660,750

					22,989,898


Other Utility – 0.6%
Anglian Water Services Financing PLC Series A5 6.29%, 07/30/2030^(a)		GBP	1,990		2,841,919
Series E 2.75%, 10/26/2029^(a)			100		124,489
4.50%, 10/05/2027^(a)			100		135,481
Series G 5.875%, 06/20/2031^(a)			4,002		5,611,934
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy 7.875%, 02/15/2039^(a)		U.S.$	435		448,594
Suez SACA Series E 2.375%, 05/24/2030^(a)		EUR	14,400		16,419,305
5.00%, 11/03/2032^(a)			200		256,179
United Utilities Water Finance PLC Series E 3.50%, 02/27/2033^(a)			2,870		3,354,470
Veolia Environnement SA Series E 1.625%, 09/17/2030^(a)			1,200		1,319,999
1.94%, 01/07/2030^(a)			3,100		3,505,094
2.97%, 01/10/2031^(a)			1,800		2,101,210
Yorkshire Water Finance PLC 1.75%, 11/26/2026^(a)		GBP	100		130,911

					36,249,585

					138,355,902


Total Corporates - Investment Grade (cost $1,352,051,583)					1,413,851,695


MORTGAGE PASS-THROUGHS – 15.0%
Agency Fixed Rate 30-Year – 15.0%
Federal National Mortgage Association Series 2005 5.50%, 02/01/2035		U.S.$	4		4,630
Series 2007 5.50%, 09/01/2036			3		2,947
5.50%, 08/01/2037			3		3,278
Series 2008 5.50%, 03/01/2037			1		1,436
Series 2017 3.50%, 06/01/2047			10		8,978
3.50%, 08/01/2047			16		14,800
3.50%, 10/01/2047			120		109,968
3.50%, 01/01/2048			6		5,523
Series 2018 3.50%, 01/01/2048			4		3,738
3.50%, 02/01/2048			128		117,376
3.50%, 03/01/2048			3,178		2,921,576
3.50%, 05/01/2048			11		10,323
Government National Mortgage Association Series 2022 5.00%, 11/20/2052			32,655		32,247,596
Series 2025 2.50%, 07/01/2055, TBA			77,474		65,842,930
3.00%, 07/01/2055, TBA			86,646		76,565,160


	Principal Amount (000)			U.S. $ Value

4.00%, 07/01/2055, TBA		U.S.$	17,468	$	16,233,715
4.50%, 07/01/2055, TBA			59,703		57,121,617
5.00%, 07/01/2055, TBA			178,922		175,689,185
5.50%, 07/01/2055, TBA			243,045		243,286,330
6.00%, 07/01/2055, TBA			33,278		33,744,114
Uniform Mortgage-Backed Security Series 2025 2.00%, 07/01/2055, TBA			40,772		32,261,054
2.50%, 07/01/2055, TBA			64,938		53,835,096
5.50%, 07/01/2055, TBA			26,750		26,739,538
6.00%, 07/01/2055, TBA			53,685		54,550,894
6.50%, 07/01/2055, TBA			9,793		10,107,861


Total Mortgage Pass-Throughs (cost $873,453,473)					881,429,663


COLLATERALIZED MORTGAGE OBLIGATIONS – 3.7%
Risk Share Floating Rate – 2.7%
Connecticut Avenue Securities Series 2025-R01, Class 1M1 5.41% (CME Term SOFR + 1.10%), 01/25/2045^(a)^(d)			4,330		4,332,547
Connecticut Avenue Securities Trust Series 2021-R01, Class 1M2 5.855% (CME Term SOFR + 1.55%), 10/25/2041^(a)^(d)			572		574,230
Series 2022-R06, Class 1M1 7.055% (CME Term SOFR + 2.75%), 05/25/2042^(a)^(d)			3,882		3,972,796
Series 2022-R08, Class 1M1 6.855% (CME Term SOFR + 2.55%), 07/25/2042^(a)^(d)			8,220		8,403,370
Series 2023-R03, Class 2M2 8.205% (CME Term SOFR + 3.90%), 04/25/2043^(a)^(d)			1,202		1,278,255
Series 2023-R04, Class 1M1 6.61% (CME Term SOFR + 2.30%), 05/25/2043^(a)^(d)			4,589		4,685,571
Series 2023-R05, Class 1M1 6.21% (CME Term SOFR + 1.90%), 06/25/2043^(a)^(d)			3,779		3,816,368
Series 2024-R04, Class 1M1 5.405% (CME Term SOFR + 1.10%), 05/25/2044^(a)^(d)			3,879		3,877,589
Series 2024-R06, Class 1M1 5.355% (CME Term SOFR + 1.05%), 09/25/2044^(a)^(d)			1,666		1,666,080
Series 2025-R02, Class 1A1 5.31% (CME Term SOFR + 1.00%), 02/25/2045^(a)^(d)			2,740		2,742,826
Series 2025-R03, Class 2A1 5.755% (CME Term SOFR + 1.45%), 03/25/2045^(a)^(d)			2,281		2,294,843
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2021-DNA5, Class M2 5.955% (CME Term SOFR + 1.65%), 01/25/2034^(a)^(d)			2,377		2,387,032
Series 2021-DNA6, Class M2 5.805% (CME Term SOFR + 1.50%), 10/25/2041^(a)^(d)			14,142		14,195,854
Series 2021-DNA7, Class M1 5.155% (CME Term SOFR + 0.85%), 11/25/2041^(a)^(d)			255		254,819
Series 2021-DNA7, Class M2 6.105% (CME Term SOFR + 1.80%), 11/25/2041^(a)^(d)			13,277		13,371,944
Series 2021-HQA4, Class M1 5.255% (CME Term SOFR + 0.95%), 12/25/2041^(a)^(d)			10,332		10,312,307


		Principal Amount (000)		U.S. $ Value

Series 2021-HQA4, Class M2 6.655% (CME Term SOFR + 2.35%), 12/25/2041^(a)^(d)	U.S.$		6,919	$	6,996,419
Series 2022-DNA3, Class M2 8.655% (CME Term SOFR + 4.35%), 04/25/2042^(a) (d)			4,004		4,214,687
Series 2023-DNA1, Class M1A 6.41% (CME Term SOFR + 2.10%), 03/25/2043^(a) (d)			9,915		10,060,422
Series 2023-DNA2, Class M1A 6.41% (CME Term SOFR + 2.10%), 04/25/2043^(a) (d)			9,030		9,171,204
Series 2023-DNA2, Class M1B 7.56% (CME Term SOFR + 3.25%), 04/25/2043^(a) (d)			2,664		2,791,225
Series 2024-DNA2, Class A1 5.555% (CME Term SOFR + 1.25%), 05/25/2044^(a) (d)			1,935		1,942,929
Series 2024-DNA2, Class M1 5.505% (CME Term SOFR + 1.20%), 05/25/2044^(a) (d)			4,563		4,569,631
Series 2024-DNA3, Class M1 5.305% (CME Term SOFR + 1.00%), 10/25/2044^(a) (d)			1,341		1,340,357
Series 2024-HQA2, Class M1 5.505% (CME Term SOFR + 1.20%), 08/25/2044^(a) (d)			8,393		8,397,937
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2023-HQA2 Series 2023-HQA2, Class M1B 7.655% (CME Term SOFR + 3.35%), 06/25/2043^{(a) (d)}			6,000		6,249,052
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-DNA1 Series 2025-DNA1, Class A1 5.255% (CME Term SOFR + 0.95%), 01/25/2045^{(a) (d)}			5,177		5,176,207
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-DNA2 Series 2025-DNA2, Class A1 5.405% (CME Term SOFR + 1.10%), 05/25/2045^{(a) (d)}			2,378		2,381,720
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-Hqa1 Series 2025-HQA1, Class A1 5.255% (CME Term SOFR + 0.95%), 02/25/2045^{(a) (d)}			4,268		4,260,909
Federal National Mortgage Association Connecticut Avenue Securities Series 2015-C03, Class 1M2 9.42% (CME Term SOFR + 5.11%), 07/25/2025^(d)			201		201,322
Series 2015-C04, Class 1M2 10.12% (CME Term SOFR + 5.81%), 04/25/2028^(d)			668		678,149
Series 2016-C01, Class 2M2 11.37% (CME Term SOFR + 7.06%), 08/25/2028^(d)			240		247,014
Series 2016-C02, Class 1M2 10.42% (CME Term SOFR + 6.11%), 09/25/2028^(d)			455		464,016
Series 2021-R02, Class 2M2 6.305% (CME Term SOFR + 2.00%), 11/25/2041^{(a) (d)}			7,315		7,365,174
Home RE Ltd. Series 2023-1, Class M1A 6.455% (CME Term SOFR + 2.15%), 10/25/2033^{(a) (d)}			119		119,145


		Principal Amount (000)		U.S. $ Value

JP Morgan Madison Avenue Securities Trust Series 2015-CH1, Class M2 9.92% (CME Term SOFR + 5.61%), 10/25/2025^(a)^(d)	U.S.$		1,223	$	1,264,884

					156,058,834


Non-Agency Fixed Rate – 0.9%
Alternative Loan Trust
Series 2006-24CB, Class A15 5.75%, 08/25/2036^(d)			1,187		583,608
Series 2006-26CB, Class A6 6.25%, 09/25/2036			109		51,518
Series 2006-26CB, Class A8 6.25%, 09/25/2036			408		192,451
Series 2006-J1, Class 1A11 5.50%, 02/25/2036			553		374,347
Series 2007-15CB, Class A19 5.75%, 07/25/2037			236		134,814
Angel Oak Mortgage Trust Series 2025-4, Class A1 5.855%, 04/25/2070^(a)			4,134		4,165,225
Series 2025-6, Class A1 5.515%, 04/25/2070^(a)			7,589		7,592,015
BRAVO Residential Funding Trust Series 2025-NQM5, Class A1 5.50%, 02/25/2065^(a)			2,289		2,295,089
CHL Mortgage Pass-Through Trust Series 2007-HY4, Class 1A1 4.86%, 09/25/2047			191		172,259
Series 2007-3, Class A30 5.75%, 04/25/2037			760		332,458
Citigroup Mortgage Loan Trust Series 2007-AR4, Class 1A1A 4.74%, 03/25/2037			102		86,729
COLT Mortgage Loan Trust Series 2025-5, Class A1 5.54%, 05/25/2070^(a)			5,351		5,369,002
Cross Mortgage Trust Series 2025-H4, Class A1 5.60%, 06/25/2070^(a)			6,366		6,390,562
GCAT Trust Series 2025-NQM2, Class A1 5.60%, 04/25/2070^(a)			5,100		5,121,445
OBX Trust Series 2025-NQM8, Class A1 5.47%, 03/25/2065^(a)			4,040		4,053,823
Series 2025-NQM10, Class A1 5.45%, 05/25/2065^(a)			10,766		10,792,104
Residential Accredit Loans, Inc. Trust Series 2005-QS14, Class 3A1 6.00%, 09/25/2035			373		328,289
Verus Securitization Trust Series 2025-5, Class A1 5.43%, 06/25/2070^(a)			5,052		5,072,989
Wells Fargo Mortgage Backed Securities Trust Series 2007-AR7, Class A1 6.68%, 12/28/2037			546		496,024

					53,604,751


Non-Agency Floating Rate – 0.1%
First Horizon Alternative Mortgage Securities Trust
Series 2007-FA2, Class 1A10 4.68% (CME Term SOFR 1 Month + 0.36%), 04/25/2037^(d)			527		121,885


		Principal Amount (000)		U.S. $ Value

Morgan Stanley Residential Mortgage Loan Trust Series 2025-NQM3, Class A1 5.53%, 05/25/2070^(a)	U.S.$		4,975	$	4,992,303

					5,114,188


Total Collateralized Mortgage Obligations (cost $215,408,795)					214,777,773


COLLATERALIZED LOAN OBLIGATIONS – 3.3%
CLO - Floating Rate – 3.3%
AGL CLO 16 Ltd. Series 2021-16A, Class AR 5.22% (CME Term SOFR 3 Month + 0.95%), 01/20/2035^(a)^(d)			5,410		5,387,240
Series 2021-16A, Class BR 5.67% (CME Term SOFR 3 Month + 1.40%), 01/20/2035^{(a) (d)}			6,310		6,312,612
AIMCO CLO Series 2015-AA, Class AR3 5.53% (CME Term SOFR 3 Month + 1.25%), 10/17/2034^{(a) (d)}			8,010		8,016,256
Allegro CLO XI Ltd. Series 2019-2A, Class BR 6.17% (CME Term SOFR 3 Month + 1.90%), 01/19/2033^{(a) (d)}			11,755		11,764,481
Apidos CLO XXXII Series 2019-32A, Class A1R 5.37% (CME Term SOFR 3 Month + 1.10%), 01/20/2033^{(a) (d)}			7,936		7,934,045
Series 2019-32A, Class B1R 5.77% (CME Term SOFR 3 Month + 1.50%), 01/20/2033^{(a) (d)}			980		978,687
Apidos CLO XXXV Series 2021-35A, Class A 5.58% (CME Term SOFR 3 Month + 1.31%), 04/20/2034^{(a) (d)}			5,030		5,033,838
Bain Capital Credit CLO Ltd. Series 2020-1A, Class BR 6.07% (CME Term SOFR 3 Month + 1.80%), 04/18/2033^{(a) (d)}			6,802		6,806,371
Betony CLO 2 Ltd. Series 2018-1A, Class A1 5.62% (CME Term SOFR 3 Month + 1.34%), 04/30/2031^{(a) (d)}			757		757,859
Chenango Park CLO Ltd. Series 2018-1A, Class BR 6.06% (CME Term SOFR 3 Month + 1.80%), 04/15/2030^{(a) (d)}			1,561		1,564,141
Clover CLO LLC Series 2021-3A, Class BR 5.73% (CME Term SOFR 3 Month + 1.45%), 01/25/2035^{(a) (d)}			10,031		10,045,127
Dryden 113 CLO Ltd. Series 2022-113A, Class AR2 5.51% (CME Term SOFR 3 Month + 1.25%), 10/15/2037^{(a) (d)}			19,750		19,763,390
Elmwood CLO 15 Ltd. Series 2022-2A, Class A1 5.61% (CME Term SOFR 3 Month + 1.34%), 04/22/2035^{(a) (d)}			5,000		5,000,000
Series 2022-2A, Class A1R 5.45% (CME Term SOFR 3 Month + 1.15%), 04/22/2035^{(a) (d)}			4,900		4,900,000
Invesco CLO Ltd. Series 2021-1A, Class A1 5.52% (CME Term SOFR 3 Month + 1.26%), 04/15/2034^{(a) (d)}			5,500		5,513,057
Kings Park CLO Ltd. Series 2021-1A, Class A 5.66% (CME Term SOFR 3 Month + 1.39%), 01/21/2035^{(a) (d)}			5,450		5,451,526


		Principal Amount (000)		U.S. $ Value

Magnetite XIX Ltd. Series 2017-19A, Class B1RR 5.73% (CME Term SOFR 3 Month + 1.45%), 04/17/2034^{(a) (d)}	U.S.$		5,996	$	5,993,040
Neuberger Berman Loan Advisers CLO 42 Ltd. Series 2021-42A, Class AR 5.21% (CME Term SOFR 3 Month + 0.95%), 07/16/2035^{(a) (d)}			5,063		5,047,875
Neuberger Berman Loan Advisers CLO 46 Ltd. Series 2021-46A, Class BR 5.77% (CME Term SOFR 3 Month + 1.50%), 01/20/2037^{(a) (d)}			5,005		5,006,792
OCP CLO Ltd. Series 2021-23A, Class BR 5.83% (CME Term SOFR 3 Month + 1.55%), 01/17/2037^{(a) (d)}			10,815		10,787,962
Octagon Loan Funding Ltd. Series 2014-1A, Class ARR 5.77% (CME Term SOFR 3 Month + 1.44%), 11/18/2031^{(a) (d)}			3,681		3,683,332
OZLM XVIII Ltd. Series 2018-18A, Class A 5.54% (CME Term SOFR 3 Month + 1.28%), 04/15/2031^{(a) (d)}			3,895		3,896,219
Peace Park CLO Ltd. Series 2021-1A, Class A 5.66% (CME Term SOFR 3 Month + 1.39%), 10/20/2034^{(a) (d)}			4,620		4,622,693
Series 2021-1A, Class B1 6.13% (CME Term SOFR 3 Month + 1.86%), 10/20/2034^{(a) (d)}			3,667		3,670,234
Pikes Peak CLO 15 2023 Ltd. Series 2023-15A, Class A1 6.02% (CME Term SOFR 3 Month + 1.75%), 10/20/2036^{(a) (d)}			4,990		5,002,517
Pikes Peak CLO 6 Series 2020-6A, Class ARR 5.26% (CME Term SOFR 3 Month + 0.94%), 05/18/2034^{(a) (d)}			4,899		4,891,248
Series 2020-6A, Class BRR 5.77% (CME Term SOFR 3 Month + 1.45%), 05/18/2034^{(a) (d)}			2,286		2,278,147
Rad CLO 14 Ltd. Series 2021-14A, Class A 5.69% (CME Term SOFR 3 Month + 1.43%), 01/15/2035^{(a) (d)}			4,750		4,756,166
Regatta XVI Funding Ltd. Series 2019-2A, Class A2R 5.71% (CME Term SOFR 3 Month + 1.45%), 01/15/2033^{(a) (d)}			4,500		4,498,493
Rockford Tower CLO Ltd. Series 2018-2A, Class A 5.69% (CME Term SOFR 3 Month + 1.42%), 10/20/2031^{(a) (d)}			3,953		3,954,895
Silver Point CLO 3 Ltd. Series 2023-3A, Class A1 6.21% (CME Term SOFR 3 Month + 1.93%), 11/29/2036^{(a) (d)}			10,514		10,552,616
VERDE CLO Ltd. Series 2019-1A, Class ARR 5.37% (CME Term SOFR 3 Month + 1.11%), 04/15/2032^{(a) (d)}			3,853		3,852,281
Voya CLO Ltd. Series 2018-3A, Class BR2 6.06% (CME Term SOFR 3 Month + 1.80%), 10/15/2031^{(a) (d)}			4,534		4,537,027


Total Collateralized Loan Obligations (cost $191,912,310)					192,260,167


		Principal Amount (000)		U.S. $ Value

COMMERCIAL MORTGAGE-BACKED SECURITIES – 2.8%
Non-Agency Floating Rate CMBS – 2.5%
ALA Trust Series 2025-OANA, Class A 6.04% (CME Term SOFR 1 Month + 1.74%), 06/15/2040^{(a) (d)}	U.S.$		8,761	$	8,807,686
BAMLL Trust Series 2025-ASHF, Class A 6.16% (CME Term SOFR 1 Month + 1.85%), 02/15/2042^{(a) (d)}			17,283		17,295,162
BFLD Mortgage Trust Series 2021-FPM, Class A 6.03% (CME Term SOFR 1 Month + 1.71%), 06/15/2038^{(a) (d)}			2,950		2,950,000
BHMS Series 2018-ATLS, Class A 5.86% (CME Term SOFR 1 Month + 1.55%), 07/15/2035^{(a) (d)}			7,358		7,353,694
BOCA Commercial Mortgage Trust Series 2024-BOCA, Class A 6.23% (CME Term SOFR 1 Month + 1.92%), 08/15/2041^{(a) (d)}			2,000		2,005,000
BX Commercial Mortgage Trust Series 2024-AIR2, Class A 5.80% (CME Term SOFR 1 Month + 1.49%), 10/15/2041^{(a) (d)}			2,360		2,363,998
BX Trust Series 2025-GW, Class A 5.90% (CME Term SOFR 1 Month + 1.60%), 07/15/2042^{(a) (d)}			5,057		5,066,491
Great Wolf Trust Series 2024-WLF2, Class A 6.00% (CME Term SOFR 1 Month + 1.69%), 05/15/2041^{(a) (d)}			2,316		2,321,069
Series 2024-WOLF, Class A 5.85% (CME Term SOFR 1 Month + 1.54%), 03/15/2039^{(a) (d)}			16,019		16,044,030
Hawaii Hotel Trust Series 2025-MAUI, Class A 5.705% (CME Term SOFR 1 Month + 1.39%), 03/15/2042^{(a) (d)}			8,158		8,162,333
HILT Commercial Mortgage Trust Series 2024-ORL, Class A 5.85% (CME Term SOFR 1 Month + 1.54%), 05/15/2037^{(a) (d)}			4,181		4,183,613
KIND Trust Series 2021-KIND, Class A 5.38% (CME Term SOFR 1 Month + 1.06%), 08/15/2038^{(a) (d)}			3,015		2,980,912
Natixis Commercial Mortgage Securities Trust Series 2019-MILE, Class A 5.89% (CME Term SOFR 1 Month + 1.58%), 07/15/2036^{(a) (d)}			10,690		10,171,360
Series 2022-JERI, Class A 5.86% (CME Term SOFR 1 Month + 1.55%), 01/15/2039^{(a) (d)}			8,113		7,265,905
NJ Trust Series 2023-GSP, Class A 6.70%, 01/06/2029^(a)			6,238		6,560,578
NRTH Mortgage Trust Series 2024-PARK, Class A 5.95% (CME Term SOFR 1 Month + 1.64%), 03/15/2039^{(a) (d)}			14,214		14,222,860
ORL Trust Series 2024-GLKS, Class A 5.80% (CME Term SOFR 1 Month + 1.49%), 12/15/2039^{(a) (d)}			7,925		7,922,242


		Principal Amount (000)		U.S. $ Value

SWCH Commercial Mortgage Trust Series 2025-DATA, Class A 5.755% (CME Term SOFR 1 Month + 1.44%), 02/15/2042^{(a) (d)}	U.S.$		15,630	$	15,499,353
Wells Fargo Commercial Mortgage Trust Series 2024-MGP, Class A12 6.00% (CME Term SOFR 1 Month + 1.69%), 08/15/2041^{(a) (d)}			4,555		4,532,153

					145,708,439


Non-Agency Fixed Rate CMBS – 0.3%
225 Liberty Street Trust Series 2016-225L, Class E 4.80%, 02/10/2036^(a)			9,098		7,915,234
BAHA Trust Series 2024-MAR, Class A 6.17%, 12/10/2041^{(a) (d)}			5,000		5,176,185
Commercial Mortgage Trust Series 2012-CR3, Class D 4.29%, 10/15/2045^(a)			2,322		1,845,967
DTP Commercial Mortgage Trust Series 2023-STE2, Class A 6.04%, 01/15/2041^(a)			1,329		1,361,489
WB Commercial Mortgage Trust Series 2024-HQ, Class A 6.13%, 03/15/2040^(a)			4,000		4,011,738

					20,310,613


Total Commercial Mortgage-Backed Securities (cost $167,843,173)					166,019,052


ASSET-BACKED SECURITIES – 2.7%
Other ABS - Fixed Rate – 1.6%
Accelerated LLC Series 2024-1A, Class A 4.68%, 08/22/2044^(a)			6,017		6,041,850
Affirm Asset Securitization Trust Series 2024-B, Class A 4.62%, 09/15/2029^(a)			4,022		4,024,979
Amur Equipment Finance Receivables XII LLC Series 2023-1A, Class A2 6.09%, 12/20/2029^(a)			1,949		1,968,199
BHG Securitization Trust Series 2023-A, Class A 5.55%, 04/17/2036^(a)			1,719		1,722,016
Series 2023-B, Class A 6.92%, 12/17/2036^(a)			1,179		1,232,543
Series 2025-1CON, Class A 4.82%, 04/17/2036^(a)			5,628		5,650,185
CCG Receivables Trust Series 2024-1, Class A2 4.99%, 03/15/2032^(a)			5,133		5,161,032
Series 2025-1, Class B 4.69%, 10/14/2032^(a)			1,283		1,286,995
Clarus Capital Funding LLC Series 2024-1A, Class A2 4.71%, 08/20/2032^(a)			9,036		9,044,504
Series 2024-1A, Class B 4.79%, 08/20/2032^(a)			261		261,010
Crossroads Asset Trust Series 2024-A, Class A2 5.90%, 08/20/2030^(a)			6,076		6,143,319
Dext ABS LLC Series 2023-1, Class A2 5.99%, 03/15/2032^(a)			1,890		1,896,843
Series 2023-2, Class A2 6.56%, 05/15/2034^(a)			1,862		1,876,405
Hilton Grand Vacations Trust Series 2025-1A, Class A 4.88%, 05/27/2042^(a)			1,003		1,012,104


		Principal Amount (000)		U.S. $ Value

HINNT LLC Series 2024-A, Class A 5.49%, 03/15/2043^(a)	U.S.$		2,389	$	2,416,926
Lendmark Funding Trust Series 2024-2A, Class B 4.86%, 02/21/2034^(a)			1,599		1,593,842
Marlette Funding Trust Series 2024-1A, Class A 5.95%, 07/17/2034^(a)			427		427,891
MVW LLC Series 2025-1A, Class A 4.97%, 09/22/2042^(a)			5,927		5,990,685
Nelnet Student Loan Trust Series 2021-CA, Class B 2.53%, 04/20/2062^(a)			8,191		7,141,161
NMEF Funding LLC Series 2023-A, Class A2 6.57%, 06/17/2030^(a)			2,137		2,150,900
PEAC Solutions Receivables LLC Series 2025-1A, Class A2 4.94%, 10/20/2028^{(a) (d)}			1,553		1,560,198
Series 2025-1A, Class B 5.20%, 07/20/2032^{(a) (d)}			2,889		2,911,375
SCF Equipment Leasing LLC Series 2024-1A, Class A2 5.88%, 11/20/2029^(a)			5,530		5,567,472
SCF Equipment Trust LLC Series 2025-1A, Class A3 5.11%, 11/21/2033^(a)			10,770		10,946,060
Sierra Timeshare Receivables Funding LLC Series 2024-2A, Class A 5.14%, 06/20/2041^(a)			2,531		2,549,608
SoFi Consumer Loan Program Trust Series 2025-2, Class B 4.97%, 06/25/2034^(a)			3,941		3,962,088

					94,540,190


Autos - Fixed Rate – 0.8%
Ally Bank Auto Credit-Linked Notes Series 2024-A, Class A2 5.68%, 05/17/2032^(a)			2,576		2,615,616
Series 2024-B, Class B 5.12%, 09/15/2032^(a)			1,689		1,700,290
BOF VII AL Funding Trust I Series 2023-CAR3, Class A2 6.29%, 07/26/2032^(a)			2,928		2,976,021
Hertz Vehicle Financing III LLC Series 2025-1A, Class A 4.91%, 09/25/2029^(a)			8,260		8,286,439
Hyundai Auto Lease Securitization Trust Series 2025-A, Class B 5.15%, 06/15/2029^(a)			8,465		8,555,305
Merchants Fleet Funding LLC Series 2023-1A, Class A 7.21%, 05/20/2036^(a)			2,367		2,384,090
OCCU Auto Receivables Trust Series 2023-1A, Class A2 6.23%, 04/15/2027^(a)			200		199,763
Securitized Term Auto Receivables Trust Series 2025-A, Class B 5.04%, 07/25/2031^(a)			3,551		3,559,813
Stellantis Financial Underwritten Enhanced Lease Trust Series 2025-AA, Class B 4.74%, 04/20/2029^(a)			5,305		5,317,933
Tesla Auto Lease Trust Series 2024-B, Class A4 4.88%, 06/20/2028^(a)			3,521		3,540,260
Series 2024-B, Class B 5.11%, 08/21/2028^(a)			8,017		8,039,137


		Principal Amount (000)		U.S. $ Value

Wheels Fleet Lease Funding 1 LLC Series 2023-2A, Class A 6.46%, 08/18/2038^(a)	U.S.$		2,643	$	2,678,036

					49,852,703


Other ABS - Floating Rate – 0.3%
Capital Street Master Trust Series 2024-1, Class A 5.65% (CME Term SOFR + 1.35%), 10/16/2028^{(a) (d)}			3,929		3,926,451
PFS Financing Corp. Series 2025-C, Class A 5.25% (CME Term SOFR + 0.95%), 04/15/2029^{(a) (d)}			4,293		4,292,981
Sotheby’s Artfi Master Trust Series 2024-1A, Class A2 5.82% (CME Term SOFR 3 Month + 1.50%), 12/22/2031^{(a) (d)}			8,490		8,478,844

					16,698,276


Total Asset-Backed Securities (cost $161,166,598)					161,091,169


COVERED BONDS – 2.4%
Bank of Nova Scotia (The) Series E 0.01%, 12/15/2027^(a)	EUR		3,220		3,586,755
BPCE SFH SA Series E 0.01%, 05/27/2030^(a)			10,600		10,972,738
Caisse de Refinancement de l’Habitat SA 2.75%, 04/12/2028^(a)			12,300		14,639,087
Caisse Francaise de Financement Local SA 0.01%, 02/22/2028^(a)			7,100		7,856,590
Series E 3.00%, 10/02/2028^(a)			1,100		1,316,832
Cie de Financement Foncier SA 2.625%, 03/05/2030^(a)			2,300		2,709,034
Commonwealth Bank of Australia Series E 0.75%, 02/28/2028^(a)			4,795		5,416,571
0.875%, 02/19/2029^(a)			8,000		8,902,977
Credit Agricole Home Loan SFH SA 2.875%, 06/23/2028^(a)			1,600		1,910,283
Series E 0.01%, 04/12/2028^(a)			1,900		2,097,184
0.875%, 08/31/2027^(a)			1,900		2,173,562
3.375%, 09/04/2028^(a)			8,400		10,172,741
Credit Mutuel Home Loan SFH SA Series E 3.25%, 04/20/2029^(a)			4,000		4,835,618
National Australia Bank Ltd. 0.01%, 01/06/2029^(a)			17,865		19,274,245
Series G 0.625%, 03/16/2027^(a)			11,055		12,672,352
Nationwide Building Society 3.625%, 03/15/2028^(a)			10,740		13,078,518
Series E 1.125%, 05/31/2028^(a)			1,570		1,784,619
Santander UK PLC Series E 3.00%, 03/12/2029^(a)			7,500		8,983,182
Westpac Banking Corp. Series E 0.01%, 09/22/2028^(a)			10,098		10,992,080


Total Covered Bonds (cost $133,612,695)					143,374,968


		Principal Amount (000)		U.S. $ Value

INFLATION-LINKED SECURITIES – 1.8%
Brazil – 0.2%
Brazil Notas do Tesouro Nacional Serie B Series NTNB 6.00%, 08/15/2050	BRL		18,778	$	14,168,141


United States – 1.6%
U.S. Treasury Inflation Index 1.625%, 04/15/2030	U.S.$		91,206		91,854,835


Total Inflation-Linked Securities (cost $105,047,267)					106,022,976


GOVERNMENTS - SOVEREIGN AGENCIES – 1.8%
Belgium – 0.2%
Dexia SA Series E Zero Coupon, 01/21/2028^(a)	EUR		3,500		3,892,388
0.01%, 01/22/2027^(a)			7,200		8,198,661

					12,091,049


Canada – 0.6%
Canada Housing Trust No. 1 3.55%, 09/15/2032^(a)	CAD		37,285		27,776,912
4.25%, 03/15/2034^(a)			9,605		7,444,076

					35,220,988


France – 0.5%
SNCF Reseau Series E 1.875%, 03/30/2034^(a)	EUR		3,200		3,342,142
3.125%, 10/25/2028^(a)			9,800		11,751,346
5.00%, 10/10/2033			9,303		12,322,631

					27,416,119


Japan – 0.4%
Development Bank of Japan, Inc. Series G 0.01%, 09/09/2025^(a)			15,859		18,607,477
0.875%, 10/10/2025^(a)			5,600		6,574,196
Organization for Workers’ Retirement Allowance Mutual Aid Series 38 0.01%, 03/24/2026	JPY		8,900		61,486
Series 39 0.01%, 06/30/2026			3,000		20,670
Series 44 0.005%, 09/28/2027			4,300		29,214

					25,293,043


Kazakhstan – 0.1%
Baiterek National Managing Holding JSC 5.45%, 05/08/2028^(a)	U.S.$		2,488		2,514,721


Total Governments - Sovereign Agencies (cost $96,342,277)					102,535,920


CORPORATES - NON-INVESTMENT GRADE – 1.7%
Industrial – 1.7%
Basic – 0.1%
INEOS Quattro Finance 2 PLC 8.50%, 03/15/2029^(a)	EUR		1,002		1,175,082
SNF Group SACA 3.125%, 03/15/2027^(a)	U.S.$		1,664		1,613,470

					2,788,552


Capital Goods – 0.0%
Axon Enterprise, Inc. 6.125%, 03/15/2030^(a)			87		89,502
Luna 2 5SARL 5.50%, 07/01/2032^(a)	EUR		632		758,551

					848,053


	Principal Amount (000)			U.S. $ Value

Communications - Media – 0.1%
Warnermedia Holdings, Inc. 3.755%, 03/15/2027		U.S.$	88	$	85,428
4.28%, 03/15/2032			3,199		2,698,091
5.14%, 03/15/2052			1,474		909,252

					3,692,771


Consumer Cyclical - Automotive – 0.3%
Nissan Motor Acceptance Co. LLC 1.85%, 09/16/2026^(a)			3,120		2,978,781
2.00%, 03/09/2026^(a)			4,070		3,953,649
2.45%, 09/15/2028^(a)			5,328		4,720,078
5.30%, 09/13/2027^(a)			1,469		1,442,151
ZF Finance GmbH Series E 2.00%, 05/06/2027^(a)		EUR	5,300		5,913,272

					19,007,931


Consumer Cyclical - Entertainment – 0.0%
Carnival Corp. 5.75%, 03/01/2027^(a)		U.S.$	199		200,604


Consumer Cyclical - Other – 0.1%
Hilton Domestic Operating Co., Inc. 5.875%, 04/01/2029^(a)			3,279		3,349,246
Standard Industries, Inc./NY 4.75%, 01/15/2028^(a)			2,392		2,366,851
Travel & Leisure Co. 6.625%, 07/31/2026^(a)			1,567		1,583,066

					7,299,163


Consumer Cyclical - Restaurants – 0.0%
1011778 BC ULC/New Red Finance, Inc. 3.875%, 01/15/2028^(a)			2,221		2,162,717


Consumer Cyclical - Retailers – 0.1%
FirstCash, Inc. 4.625%, 09/01/2028^(a)			2,218		2,178,055


Consumer Non-Cyclical – 0.3%
CVS Health Corp. 6.75%, 12/10/2054			662		664,969
7.00%, 03/10/2055			7,578		7,831,996
IQVIA, Inc. 5.00%, 10/15/2026^(a)			1,801		1,797,490
METRO AG 4.625%, 03/07/2029^(a)		EUR	527		637,840
Organon & Co./Organon Foreign Debt Co-Issuer BV 4.125%, 04/30/2028^(a)		U.S.$	5,277		5,072,191
Tenet Healthcare Corp. 5.125%, 11/01/2027			2,720		2,714,595

					18,719,081


Energy – 0.3%
Antero Midstream Partners LP/Antero Midstream Finance Corp. 5.375%, 06/15/2029^(a)			303		300,900
NuStar Logistics LP 6.00%, 06/01/2026			1,576		1,582,202
Sunoco LP/Sunoco Finance Corp. 7.00%, 09/15/2028^(a)			10,993		11,329,276
Venture Global Plaquemines LNG LLC 6.50%, 01/15/2034^(a)			5,896		5,896,000

					19,108,378


Services – 0.1%
Clarivate Science Holdings Corp. 3.875%, 07/01/2028^(a)			3,576		3,426,706


	Principal Amount (000)			U.S. $ Value

Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027^(a)		U.S.$	1,686	$	1,631,032

					5,057,738


Technology – 0.1%
Cedacri SpA 6.77% (EURIBOR 3 Month + 4.63%), 05/15/2028^(a)^(d)		EUR	2,165		2,552,444


Transportation - Airlines – 0.2%
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.75%, 04/20/2029^(a)		U.S.$	5,557		5,569,969
JetBlue Airways Corp./JetBlue Loyalty LP 9.875%, 09/20/2031^(a)			7,634		7,404,980

					12,974,949

					96,590,436


Financial Institutions – 0.0%
REITs – 0.0%
Vivion Investments SARL Series E 6.50%, 02/28/2029^(a)^{(e) (g)}		EUR	23		26,856


Total Corporates - Non-Investment Grade (cost $96,209,178)					96,617,292


SUPRANATIONALS – 1.2%
European Union Series UFA 3.375%, 10/05/2054^(a)			27,216		29,234,726
4.00%, 04/04/2044^(a)			33,571		41,325,669


Total Supranationals (cost $67,607,249)					70,560,395


EMERGING MARKETS - CORPORATE BONDS – 1.2%
Industrial – 0.9%
Basic – 0.4%
Braskem Idesa SAPI 6.99%, 02/20/2032^(a)^(h)		U.S.$	3,142		2,174,951
6.99%, 02/20/2032^(a)			244		168,901
Braskem Netherlands Finance BV 4.50%, 01/10/2028^(a)			8,736		7,501,603
8.00%, 10/15/2034^(a)			1,215		966,772
JSW Steel Ltd. 3.95%, 04/05/2027^(a)			3,300		3,178,065
Periama Holdings LLC/DE 5.95%, 04/19/2026^(a)			2,478		2,476,538
Sasol Financing USA LLC 8.75%, 05/03/2029^(a)			2,046		2,023,664
Stillwater Mining Co. 4.00%, 11/16/2026^(a)			5,827		5,662,206
UPL Corp., Ltd. 4.625%, 06/16/2030^(a)			380		343,710

					24,496,410


Capital Goods – 0.1%
Ambipar Lux SARL 10.875%, 02/05/2033^(a)			7,997		7,592,477


Consumer Non-Cyclical – 0.1%
BRF GmbH 4.35%, 09/29/2026^(a)			1,475		1,456,046
Natura &Co Luxembourg Holdings SARL 4.125%, 05/03/2028^(a)			4,122		3,875,826

					5,331,872


Energy – 0.3%
Acu Petroleo Luxembourg SARL 7.50%, 01/13/2032^(a)			2,768		2,767,929
Ecopetrol SA 6.875%, 04/29/2030			1,505		1,486,940


	Principal Amount (000)			U.S. $ Value

8.375%, 01/19/2036		U.S.$	1,614	$	1,554,685
8.625%, 01/19/2029			4,947		5,225,912
Gran Tierra Energy, Inc. 9.50%, 10/15/2029^(a)			5,525		4,209,605
Greenko Dutch BV 3.85%, 03/29/2026^(a)			352		345,136

					15,590,207


Other Industrial – 0.0%
Telecommunications co Telekom Srbija AD Belgrade 7.00%, 10/28/2029^(a)			1,155		1,152,546

					54,163,512


Utility – 0.3%
Electric – 0.2%
Diamond II Ltd. 7.95%, 07/28/2026^(a)			5,305		5,343,593
Saavi Energia SARL 8.875%, 02/10/2035^(a)			5,390		5,609,903

					10,953,496

Other Utility – 0.1%
Aegea Finance SARL 6.75%, 05/20/2029^(a)			5,407		5,401,038

					16,354,534


Total Emerging Markets - Corporate Bonds (cost $72,592,423)					70,518,046


QUASI-SOVEREIGNS – 1.2%
Quasi-Sovereign Bonds – 1.2%
Chile – 0.1%
Corp. Nacional del Cobre de Chile 3.75%, 01/15/2031^(a)			530		492,337
5.125%, 02/02/2033^(a)			211		204,459
5.95%, 01/08/2034^(a)			906		922,988
6.44%, 01/26/2036^(a)			520		542,620
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030^(a)			370		350,068
4.70%, 05/07/2050^(a)			370		296,825
Empresa Nacional del Petroleo 5.95%, 07/30/2034^(a)			280		282,800

					3,092,097


China – 0.1%
Agricultural Development Bank of China 3.80%, 10/27/2030^(a)		CNH	25,000		3,866,989
CNAC HK Finbridge Co., Ltd. 3.00%, 09/22/2030^(a)		U.S.$	540		496,827

					4,363,816


Hong Kong – 0.5%
Airport Authority 2.10%, 03/08/2026^(a)^(c)			250		244,838
3.50%, 01/12/2062^(a)			350		247,096
Series E 2.93%, 06/05/2034^(a)		CNH	96,670		13,972,014
Hong Kong Mortgage Corp., Ltd. (The) Series E 2.60%, 10/18/2031^(a)			97,500		13,784,095

					28,248,043


Indonesia – 0.0%
Pertamina Persero PT 2.30%, 02/09/2031^(a)		U.S.$	570		495,188
4.15%, 02/25/2060^(a)			410		286,200


	Principal Amount (000)			U.S. $ Value

Perusahaan Perseroan Persero PT Perusahaan Listrik Negara 4.125%, 05/15/2027^(a)		U.S.$	460	$	454,250
5.25%, 10/24/2042^(a)			205		181,828

					1,417,466


Kazakhstan – 0.0%
Development Bank of Kazakhstan JSC 5.25%, 10/23/2029^(a)			225		224,854
5.625%, 04/07/2030^(a)			240		241,651
Fund of National Welfare Samruk-Kazyna JSC 2.00%, 10/28/2026^(a)			473		453,933

					920,438


Malaysia – 0.0%
Petronas Capital Ltd. 2.48%, 01/28/2032^(a)			1,000		872,000
5.34%, 04/03/2035^(a)			500		511,755

					1,383,755


Mexico – 0.3%
Banco Nacional de Comercio Exterior SNC/Cayman Islands 5.875%, 05/07/2030^(a)			340		344,046
Comision Federal de Electricidad 3.35%, 02/09/2031^(a)			200		176,200
3.875%, 07/26/2033^(a)			200		169,820
4.68%, 02/09/2051^(a)			220		154,000
4.69%, 05/15/2029^(a)			240		233,760
6.45%, 01/24/2035^(a)			390		383,604
Series E 5.00%, 09/29/2036^(f)			3,054		2,717,988
Petroleos Mexicanos 6.35%, 02/12/2048			8,105		5,640,270
6.50%, 03/13/2027			5,450		5,411,850

					15,231,538


Panama – 0.0%
Banco Nacional de Panama 2.50%, 08/11/2030^(a)			200		166,800


Peru – 0.0%
Corp. Financiera de Desarrollo SA 5.95%, 04/30/2029^(a)			230		237,705


Poland – 0.0%
Bank Gospodarstwa Krajowego 5.375%, 05/22/2033^(a)			265		266,388
6.25%, 07/09/2054^(a)			655		645,254

					911,642


Qatar – 0.0%
QatarEnergy 2.25%, 07/12/2031^(a)			540		471,614
3.30%, 07/12/2051^(a)			500		337,563

					809,177


Saudi Arabia – 0.0%
Gaci First Investment Co. 4.875%, 02/14/2035^(a)			506		494,959
5.00%, 10/13/2027^(a)			430		433,376
5.125%, 02/14/2053^(a)			415		355,397
5.375%, 01/29/2054^(a)			1,030		911,854

					2,195,586


South Africa – 0.1%
Transnet SOC Ltd. 8.25%, 02/06/2028^(a)			7,645		7,910,205


United Arab Emirates – 0.1%
Abu Dhabi Crude Oil Pipeline LLC 4.60%, 11/02/2047^(a)			540		482,625
Abu Dhabi Ports Co. PJSC Series E 2.50%, 05/06/2031^(a)			280		248,675


	Principal Amount (000)			U.S. $ Value

DP World Crescent Ltd. 5.50%, 05/08/2035^(a)		U.S.$	390	$	394,129
MDGH GMTN RSC Ltd. 3.70%, 11/07/2049^(a)			520		383,339
Series G 2.50%, 06/03/2031^(a)			690		612,247
3.375%, 03/28/2032^(a)			260		239,525

					2,360,540


Total Quasi-Sovereigns (cost $68,847,444)					69,248,808


GOVERNMENTS - SOVEREIGN BONDS – 1.2%
Chile – 0.1%
Chile Electricity Lux MPC SARL 6.01%, 01/20/2033^(a)			409		423,861
Chile Electricity Lux MPC II SARL 5.58%, 10/20/2035^(a)			235		234,953
Chile Government International Bond 3.10%, 05/07/2041			825		613,800
3.50%, 01/25/2050			650		463,125
3.75%, 01/14/2032		EUR	3,435		4,116,137
5.33%, 01/05/2054		U.S.$	265		249,100

					6,100,976


Colombia – 0.2%
Colombia Government International Bond 8.00%, 11/14/2035			8,167		8,218,044


Hong Kong – 0.3%
Hong Kong Government International Bond Series G 3.15%, 07/24/2054^(a)		CNH	55,000		8,558,586
3.30%, 06/07/2033^(a)			36,090		5,494,231

					14,052,817


Hungary – 0.1%
Hungary Government International Bond 2.125%, 09/22/2031^(a)		U.S.$	673		558,095
3.125%, 09/21/2051^(a)			200		118,050
5.50%, 03/26/2036^(a)			470		452,032
6.125%, 05/22/2028^(a)			250		257,580
6.25%, 09/22/2032^(a)			270		280,603
6.75%, 09/25/2052^(a)			740		753,120
6.75%, 09/23/2055^(a)			500		504,000

					2,923,480


Indonesia – 0.3%
Indonesia Government International Bond 1.00%, 07/28/2029		EUR	4,706		5,122,464
1.40%, 10/30/2031			4,290		4,469,889
2.15%, 07/28/2031		U.S.$	1,030		898,160
3.20%, 09/23/2061			640		404,160
3.375%, 07/30/2025^(a)		EUR	5,279		6,231,988
3.55%, 03/31/2032		U.S.$	200		186,750
4.30%, 03/31/2052			750		611,437

					17,924,848


Israel – 0.0%
Israel Government International Bond Series 5Y 5.375%, 02/19/2030			380		388,090


Mexico – 0.0%
Mexico Government International Bond 2.66%, 05/24/2031			400		345,900
4.28%, 08/14/2041			500		384,625
5.00%, 04/27/2051			550		427,900
6.34%, 05/04/2053			248		228,036
7.375%, 05/13/2055			240		248,400

					1,634,861


	Principal Amount (000)			U.S. $ Value

Panama – 0.1%
Panama Government International Bond 3.87%, 07/23/2060		U.S.$	400	$	228,000
3.875%, 03/17/2028			670		649,900
9.375%, 04/01/2029			4,885		5,502,953

					6,380,853


Peru – 0.0%
Peruvian Government International Bond 2.78%, 12/01/2060			105		56,385
3.55%, 03/10/2051			660		452,760
5.875%, 08/08/2054			120		115,872

					625,017


Philippines – 0.0%
Philippine Government International Bond 1.95%, 01/06/2032			1,660		1,408,925
3.23%, 03/29/2027			205		200,900
3.56%, 09/29/2032			205		190,394
4.20%, 03/29/2047			205		167,587

					1,967,806


Poland – 0.0%
Republic of Poland Government International Bond Series 10Y 4.875%, 10/04/2033			442		438,623
Series 30Y 5.50%, 04/04/2053			158		146,980

					585,603


Qatar – 0.0%
Qatar Government International Bond 3.75%, 04/16/2030^(a)			1,110		1,084,892
4.40%, 04/16/2050^(a)			200		169,025
4.82%, 03/14/2049^(a)			320		286,800
4.875%, 02/27/2035^(a)			240		243,921

					1,784,638


Romania – 0.1%
Romanian Government International Bond 2.875%, 04/13/2042^(a)		EUR	300		219,503
3.00%, 02/14/2031^(a)		U.S.$	1,130		965,585
3.625%, 03/27/2032^(a)			256		219,441
5.25%, 11/25/2027^(a)			694		693,132
6.625%, 02/17/2028^(a)			270		278,384
7.50%, 02/10/2037^(a)			640		664,243

					3,040,288


Saudi Arabia – 0.0%
KSA Sukuk Ltd. 5.27%, 10/25/2028^(a)			405		415,088
Saudi Government International Bond 3.625%, 03/04/2028^(a)			370		362,833
3.75%, 01/21/2055^(a)			970		659,600
5.00%, 04/17/2049^(a)			407		352,666
5.125%, 01/13/2028^(a)			200		203,200
5.75%, 01/16/2054^(a)			225		214,234

					2,207,621


Uruguay – 0.0%
Oriental Republic of Uruguay 5.25%, 09/10/2060			595		538,901
Uruguay Government International Bond 4.375%, 01/23/2031			152		152,326
5.44%, 02/14/2037			303		310,462
5.75%, 10/28/2034			220		232,320

					1,234,009


Total Governments - Sovereign Bonds (cost $69,304,666)					69,068,951


	Principal Amount (000)			U.S. $ Value

LOCAL GOVERNMENTS - REGIONAL BONDS – 0.8%
Japan – 0.8%
Japan Finance Organization for Municipalities Series G 0.05%, 02/12/2027^(a)		EUR	29,930	$	34,034,751
2.375%, 09/08/2027^(a)			9,345		11,018,503


Total Local Governments - Regional Bonds (cost $43,917,083)					45,053,254


BANK LOANS – 0.7%
Industrial – 0.7%
Capital Goods – 0.1%
Quikrete Holdings, Inc. 6.58% (CME Term SOFR 1 Month + 2.25%), 03/19/2029⁽ⁱ⁾			3,890		3,887,156


Consumer Cyclical - Other – 0.1%
Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc. 08/02/2028^(j)		U.S.$	5,697		5,690,434


Consumer Cyclical - Restaurants – 0.0%
IRB Holding Corp. 6.83% (CME Term SOFR 1 Month + 2.50%), 12/15/2027⁽ⁱ⁾			1,078		1,077,677


Consumer Non-Cyclical – 0.4%
Hertz Corp. (The) 8.04% (CME Term SOFR 3 Month + 3.50%), 06/30/2028⁽ⁱ⁾			8,900		7,376,194
Jazz Pharmaceuticals PLC 6.58% (CME Term SOFR 1 Month + 2.25%), 05/05/2028⁽ⁱ⁾			5,674		5,695,600
Opal Bidco SAS 7.54% (CME Term SOFR 3 Month + 3.25%), 04/28/2032⁽ⁱ⁾			8,079		8,106,792

					21,178,586


Technology – 0.1%
Broadcom, Inc. 5.45% (CME Term SOFR 1 Month + 1.13%), 08/15/2028⁽ⁱ⁾^(k)			4,275		4,269,938
MKS Instruments, Inc. 6.32% (CME Term SOFR 1 Month + 2.00%), 08/17/2029⁽ⁱ⁾			2,725		2,727,989

					6,997,927


Total Bank Loans (cost $39,167,295)					38,831,780


LOCAL GOVERNMENTS - PROVINCIAL BONDS – 0.5%
Canada – 0.5%
Hydro Quebec Interest Strip Zero Coupon, 08/15/2041		CAD	5,631		1,994,598
Zero Coupon, 02/15/2042			5,631		1,949,589
Zero Coupon, 08/15/2042			5,631		1,893,657
Zero Coupon, 02/15/2044			5,631		1,757,022
Zero Coupon, 08/15/2044			5,631		1,716,843
Province of Ontario Generic Coupon Strip Zero Coupon, 12/02/2037			5,631		2,433,479
Zero Coupon, 12/02/2038			5,669		2,328,525
Zero Coupon, 06/02/2039			5,669		2,270,211
Zero Coupon, 06/02/2040			5,669		2,151,775
Zero Coupon, 12/02/2040			5,631		2,082,521
Zero Coupon, 06/02/2041			5,631		2,029,215
Zero Coupon, 12/02/2041			5,669		1,991,948
Zero Coupon, 06/02/2042			5,669		1,940,345


	Principal Amount (000)				U.S. $ Value

Province of Quebec Canada 4.40%, 12/01/2055		CAD	2,717		$	1,976,321


Total Local Governments - Provincial Bonds (cost $28,964,199)						28,516,049


LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.3%
United States – 0.3%
California Earthquake Authority Series 2022-A 5.60%, 07/01/2027		U.S.$	4,745			4,795,421
Commonwealth Financing Authority Series 2016-A 4.14%, 06/01/2038			2,640			2,434,941
State Board of Administration Finance Corp. Series 2020-A 2.15%, 07/01/2030			7,016			6,277,571
Series 2024-A 5.53%, 07/01/2034			4,802			4,927,051
State of Hawaii Series 2023-G 5.25%, 10/01/2029			1,640			1,716,802


Total Local Governments - US Municipal Bonds (cost $19,853,242)						20,151,786


EMERGING MARKETS - SOVEREIGNS – 0.1%
Dominican Republic – 0.1%
Dominican Republic International Bond 5.95%, 01/25/2027^(a)(cost $6,924,278)			7,003			7,066,027


LOCAL GOVERNMENTS - CANADIAN MUNICIPAL BONDS – 0.0%
Canada – 0.0%
City of Calgary Canada 4.20%, 06/01/2034 (cost $2,561,999)			3,456			2,603,703


	Shares

COMMON STOCKS – 0.0%
Energy – 0.0%
Oil, Gas & Consumable Fuels – 0.0%
SandRidge Energy, Inc. (cost $1,387,701)			4,459			48,246


	Principal Amount (000)

EMERGING MARKETS - TREASURIES – 0.0%
South Africa – 0.0%
Republic of South Africa Government Bond Series 2030 8.00%, 01/31/2030 (cost $1)			0	**		1


	Shares

SHORT-TERM INVESTMENTS – 3.2%
Investment Companies – 1.7%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.17%^(l)^{(m) (n)}(cost $99,544,970)			99,544,970			99,544,970


	Principal Amount (000)				U.S. $ Value

Treasury Bills – 1.1%
Japan – 1.1%
Japan Treasury Discount Bill Series 1315 Zero Coupon, 09/29/2025 (cost $65,334,990)		U.S.$	9,475,900,000		$	65,731,122


Time Deposits – 0.4%
ANZ, London 2.61%, 07/01/2025		AUD	321			211,218
BBH, New York 2.00%, 07/01/2025		NZD	0	**		1
Citibank, London 0.86%, 07/01/2025		EUR	2,739			3,225,827
3.17%, 07/01/2025		GBP	77			105,973
JPMorgan Chase, New York 3.68%, 07/01/2025		U.S.$	16,975			16,974,786
Nordea, Oslo 2.94%, 07/01/2025		NOK	4			394
Royal Bank of Canada, Toronto 1.55%, 07/02/2025		CAD	111			81,603
SMBC, Tokyo 0.12%, 07/01/2025		JPY	103,295			717,300
Standard Chartered Bank, Johannesburg 5.16%, 07/01/2025		ZAR	0	**		1


Total Time Deposits (cost $21,317,103)						21,317,103


Total Short-Term Investments (cost $186,197,063)						186,593,195


Total Investments – 115.4% (cost $6,726,613,730)^(o)						6,768,243,286
Other assets less liabilities – (15.4)%						(901,211,493	)


Net Assets – 100.0%					$	5,867,031,793

FUTURES


Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
Australian 10 Yr Bond Futures		1,181		September 2025	$	89,090,696	$	714,358
Canadian 5 Yr Bond Futures		24		September 2025		2,011,118		7,740
Canadian 10 Yr Bond Futures		5		September 2025		447,953		1,344
Euro Buxl 30 Yr Bond Futures		131		September 2025		18,322,941		(97,699	)
Euro-BTP Futures		555		September 2025		79,105,231		172,593
Euro-Bund Futures		7		September 2025		1,073,171		(5,006	)
Euro-OAT Futures		573		September 2025		83,587,708		(587,220	)
Euro-Schatz Futures		57		September 2025		7,201,103		(11,414	)
Long Gilt Futures		8		September 2025		1,021,581		18,352
U.S. 10 Yr Ultra Futures		28		September 2025		3,199,437		61,836
U.S. Long Bond (CBT) Futures		159		September 2025		18,359,531		350,515
U.S. T-Note 2 Yr (CBT) Futures		1,080		September 2025		224,665,313		682,657
U.S. T-Note 5 Yr (CBT) Futures		7,908		September 2025		861,972,000		10,108,750
U.S. Ultra Bond (CBT) Futures		4		September 2025		476,500		2,937
Sold Contracts
Canadian 10 Yr Bond Futures		1,822		September 2025		163,234,074		(1,003,488	)
Euro-BOBL Futures		61		September 2025		8,455,891		19,189
Euro-Bund Futures		665		September 2025		101,951,276		682,763
Euro-Schatz Futures		169		September 2025		21,350,638		32,847
Japan 10 Yr Bond (OSE) Futures		228		September 2025		220,107,357		(559,303	)
U.S. 10 Yr Ultra Futures		2,025		September 2025		231,387,891		(3,462,391	)
U.S. Long Bond (CBT) Futures		11		September 2025		1,270,156		(32,656	)
U.S. T-Note 2 Yr (CBT) Futures		59		September 2025		12,273,383		(48,836	)
U.S. T-Note 10 Yr (CBT) Futures		7		September 2025		784,875		(13,625	)
U.S. Ultra Bond (CBT) Futures		357		September 2025		42,527,625		(322,094	)

							$	6,712,149

FORWARD CURRENCY EXCHANGE CONTRACTS


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America NA		BRL	60,618		USD	11,108		07/02/2025		$	(49,068	)
Bank of America NA		USD	10,893		BRL	60,618		07/02/2025			264,443
Bank of America NA		CAD	93,459		USD	68,085		07/11/2025			(579,194	)
Bank of America NA		KRW	111,527,468		USD	77,428		07/17/2025			(5,075,741	)
Bank of America NA		BRL	60,618		USD	10,810		08/04/2025			(252,324	)
Bank of America NA		CNH	49,394		USD	6,903		08/07/2025			(17,926	)
Barclays Bank PLC		GBP	194,296		USD	264,448		07/11/2025			(2,263,201	)
Barclays Bank PLC		PLN	232,949		USD	63,742		07/11/2025			(873,756	)
BNP Paribas SA		USD	13,500		JPY	1,960,780		07/11/2025			129,750
BNP Paribas SA		CNH	29,598		USD	4,146		08/07/2025			(1,497	)
Brown Brothers Harriman & Co.		EUR	4,120		USD	4,709		07/09/2025			(146,924	)
Brown Brothers Harriman & Co.		USD	1,773		EUR	1,565		07/09/2025			71,300
Brown Brothers Harriman & Co.		EUR	14,800		USD	17,093		07/10/2025			(349,691	)
Brown Brothers Harriman & Co.		GBP	45,186		USD	61,558		07/11/2025			(468,949	)
Brown Brothers Harriman & Co.		GBP	997		USD	1,351		07/16/2025			(17,353	)
Brown Brothers Harriman & Co.		USD	1,374		GBP	1,016		07/16/2025			20,168
Brown Brothers Harriman & Co.		EUR	8,733		USD	9,957		07/25/2025			(347,280	)
Brown Brothers Harriman & Co.		CNH	137,230		USD	19,146		08/07/2025			(81,695	)
Brown Brothers Harriman & Co.		EUR	23,075		USD	26,367		08/08/2025			(885,970	)
Citibank NA		JPY	13,231,716		USD	90,990		07/11/2025			(988,322	)
Citibank NA		USD	50,930		COP	208,236,674		07/15/2025			(59,881	)
Citibank NA		GBP	120,482		USD	160,224		07/16/2025			(5,167,136	)
Citibank NA		USD	14,931		KRW	20,290,796		07/17/2025			79,693
Citibank NA		USD	14,260		HUF	4,854,429		07/18/2025			36,013
Citibank NA		IDR	544,362,237		USD	32,262		07/24/2025			(1,355,619	)
Citibank NA		USD	10,421		CNH	74,831		08/07/2025			63,594
Deutsche Bank AG		CNH	15,500		USD	2,167		08/07/2025			(5,116	)
Goldman Sachs Bank USA		MYR	115,081		USD	27,344		09/17/2025			(41,861	)
HSBC Bank USA		EUR	994,424		USD	1,134,426		07/09/2025			(37,494,813	)
HSBC Bank USA		USD	1,018		EUR	881		07/09/2025			19,789
HSBC Bank USA		AUD	13,578		USD	8,902		07/10/2025			(35,370	)
HSBC Bank USA		PEN	24,266		USD	6,658		07/15/2025			(189,324	)
HSBC Bank USA		USD	11,403		BRL	63,744		08/04/2025			230,053
HSBC Bank USA		CNH	8,420		USD	1,176		08/07/2025			(3,536	)
JPMorgan Chase Bank NA		EUR	7,171		USD	8,208		07/09/2025			(243,378	)
JPMorgan Chase Bank NA		AUD	38,757		USD	25,297		07/10/2025			(213,453	)
JPMorgan Chase Bank NA		USD	24,183		EUR	20,763		07/10/2025			287,570
JPMorgan Chase Bank NA		USD	14,544		ZAR	258,781		07/10/2025			64,333
JPMorgan Chase Bank NA		CAD	8,124		USD	5,969		07/11/2025			785
JPMorgan Chase Bank NA		CAD	21,112		USD	15,506		07/11/2025			(4,379	)
JPMorgan Chase Bank NA		JPY	9,465,950		USD	65,405		07/11/2025			(395,974	)
Morgan Stanley Capital Services LLC		BRL	60,618		USD	10,646		07/02/2025			(511,222	)
Morgan Stanley Capital Services LLC		USD	11,108		BRL	60,618		07/02/2025			49,068
Morgan Stanley Capital Services LLC		EUR	1,039		USD	1,189		07/09/2025			(36,006	)
Morgan Stanley Capital Services LLC		MXN	1,590,579		USD	83,354		07/10/2025			(1,341,629	)
Morgan Stanley Capital Services LLC		CAD	331,419		USD	241,287		07/11/2025			(2,205,525	)
Morgan Stanley Capital Services LLC		COP	221,679,661		USD	51,737		07/15/2025			(2,417,661	)
Morgan Stanley Capital Services LLC		CNH	2,312,187		USD	320,261		08/05/2025			(3,654,427	)
Morgan Stanley Capital Services LLC		JPY	77,161,757		USD	529,165		08/27/2025			(10,162,412	)
Societe Generale		EUR	57,497		USD	66,903		07/10/2025			(862,232	)
Standard Chartered Bank		AUD	141,372		USD	91,929		07/10/2025			(1,124,853	)
Standard Chartered Bank		PEN	105,518		USD	29,032		07/15/2025			(744,211	)
Standard Chartered Bank		USD	15,634		IDR	254,898,014		07/24/2025			107,549
UBS AG		CAD	202,044		USD	149,654		08/28/2025			841,024

										$	(78,403,777	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS


Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at June 30, 2025		Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Buy Contracts
iTraxx Australia Series 43, 5 Year Index, 6/20/2030*		1.00	%		Quarterly		0.74%		USD	55,701	$	(672,065	)	$	(625,660	)	$	(46,405	)
Sale Contracts
CDX-NAIG Series 44, 5 Year Index, 6/20/2030*		1.00			Quarterly		0.51		USD	55,701		1,250,640			1,052,457			198,183

											$	578,575		$	426,797		$	151,778

*	Termination date

CENTRALLY CLEARED INTEREST RATE SWAPS


			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund		Payments received by the Fund		Payment Frequency Paid/ Received		Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
CNY	644,702	02/20/2030		China 7-Day Reverse Repo Rate		1.616%		Quarterly	$	534,831 $		-0-	$	534,831
CNY	586,868	02/20/2030		China 7-Day Reverse Repo Rate		1.602%		Quarterly		436,033		-0-		436,033
CNY	428,453	04/03/2030		China 7-Day Reverse Repo Rate		1.591%		Quarterly		296,715		-0-		296,715
CNY	396,687	04/03/2030		China 7-Day Reverse Repo Rate		1.583%		Quarterly		253,315		-0-		253,315
NZD	75,120	03/18/2035		3 Month BKBM		4.153%		Quarterly/ Semi-Annual		847,712		-0-		847,712
NZD	38,130	03/18/2035		3 Month BKBM		4.155%		Quarterly/ Semi-Annual		435,182		-0-		435,182

									$	2,803,788	$	-0-	$	2,803,788

REVERSE REPURCHASE AGREEMENTS


Broker	Currency	Principal Amount (000)		Interest Rate			Maturity		U.S. $ Value at June 30, 2025
Jefferies LLC†	USD		143		1.75	%		—	$	142,528

†	The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on June 30, 2025.

The type of underlying collateral and the remaining maturity of open reverse repurchase agreements on statements of assets and liabilities is as follows:


	Overnight and Continuous	Up to 30 Days		31-90 Days		Greater than 90 Days		Total

Emerging Markets - Corporate Bonds	$ 142,528	$	-0-	$	-0-	$	-0-	$	142,528

**	Principal amount less than 500.

(a)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At June 30, 2025, the aggregate market value of these securities amounted to $3,067,069,267 or 52.28% of net assets.

(b)

Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(c)

Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(d)

Floating Rate Security. Stated interest/floor/ceiling rate was in effect at June 30, 2025.

(e)

Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at June 30, 2025.

(f)

Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.05% of net assets as of June 30, 2025, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities

Acquisition
Date

Cost

Market
Value

Percentage
of
Net Assets

Chile Electricity PEC SpA
Zero Coupon, 01/25/2028

10/06/2021

189,997

175,971

0.00%

Comision Federal de Electricidad
Series E
5.00%, 09/29/2036

06/23/2021

3,155,384

2,717,988

0.05%

(g)

Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at June 30, 2025.

(h)

Position, or a portion thereof, has been segregated to collateralize reverse repurchase agreements.

(i)

The stated coupon rate represents the greater of the SOFR or an alternate base rate such as the PRIME or the SOFR/PRIME floor rate plus a spread at June 30, 2025.

(j)

This position or a portion of this position represents an unsettled loan purchase. The coupon rate will be determined at the time of settlement and will be based upon the Secured Overnight Financing Rate (“SOFR”) plus a premium which was determined at the time of purchase.

(k)

Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(l)

The rate shown represents the 7-day yield as of period end.

(m)

To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(n)

Affiliated investments.

(o)

As of June 30, 2025, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $216,903,126 and gross unrealized depreciation of investments was $(244,009,632), resulting in net unrealized depreciation of $(27,106,506).

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CNH – Chinese Yuan Renminbi (Offshore)

CNY – Chinese Yuan Renminbi

COP – Colombian Peso

EUR – Euro

GBP – Great British Pound

HUF – Hungarian Forint

IDR – Indonesian Rupiah

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PLN – Polish Zloty

SEK – Swedish Krona

USD – United States Dollar

ZAR – South African Rand

Glossary:

ABS – Asset-Backed Securities

AD – Assessment District

BKBM – Bank Bill Reference Rate (New Zealand)

BOBL – Bundesobligationen

BTP – Buoni del Tesoro Poliennali

CBT – Chicago Board of Trade

CDX-NAIG – North American Investment Grade Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

CME – Chicago Mercantile Exchange

EURIBOR – Euro Interbank Offered Rate

GMTN – Global Medium Term Note

JSC – Joint Stock Company

MTN – Medium Term Note

OAT – Obligations Assimilables du Trésor

OSE – Osaka Securities Exchange

PJSC – Public Joint Stock Company

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

TBA – To Be Announced

COUNTRY BREAKDOWN¹

June 30, 2025 (unaudited)


40.0	%	United States
10.4	%	Japan
8.6	%	United Kingdom
7.2	%	Canada
4.1	%	France
4.1	%	China
3.9	%	Germany
2.1	%	Australia
1.9	%	Mexico
1.8	%	Italy
1.3	%	South Korea
1.0	%	Spain
1.0	%	Supranational
9.8	%	Other
2.8	%	Short-Term Investments

100.0	%	Total Investments

The Fund’s country breakdown is expressed as a percentage of total investments and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 1.0% or less in the following: Austria, Belgium, Brazil, Chile, Colombia, Czech Republic, Denmark, Dominican Republic, Finland, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Israel, Kazakhstan, Kuwait, Luxembourg, Macau, Malaysia, Morocco, Netherlands, Norway, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Saudi Arabia, Serbia, Singapore, South Africa, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates and Uruguay.

AB Global Bond Fund

June 30, 2025 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

Level 1 - quoted prices in active markets for identical investments

•

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which are then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

Valuations of mortgage-backed or other asset-backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset-backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as a significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of June 30, 2025:


Investments in Securities	Level 1			Level 2			Level 3		Total
Assets:
Governments - Treasuries	$	-0-		$	2,682,002,370		$	-0-	$	2,682,002,370
Corporates - Investment Grade		-0-			1,413,851,695			-0-		1,413,851,695
Mortgage Pass-Throughs		-0-			881,429,663			-0-		881,429,663
Collateralized Mortgage Obligations		-0-			214,777,773			-0-		214,777,773
Collateralized Loan Obligations		-0-			192,260,167			-0-		192,260,167
Commercial Mortgage-Backed Securities		-0-			166,019,052			-0-		166,019,052
Asset-Backed Securities		-0-			161,091,169			-0-		161,091,169
Covered Bonds		-0-			143,374,968			-0-		143,374,968
Inflation-Linked Securities		-0-			106,022,976			-0-		106,022,976
Governments - Sovereign Agencies		-0-			102,535,920			-0-		102,535,920
Corporates - Non-Investment Grade		-0-			96,617,292			-0-		96,617,292
Supranationals		-0-			70,560,395			-0-		70,560,395
Emerging Markets - Corporate Bonds		-0-			70,518,046			-0-		70,518,046
Quasi-Sovereigns		-0-			69,248,808			-0-		69,248,808
Governments - Sovereign Bonds		-0-			69,068,951			-0-		69,068,951
Local Governments - Regional Bonds		-0-			45,053,254			-0-		45,053,254
Bank Loans		-0-			34,561,842			4,269,938		38,831,780
Local Governments - Provincial Bonds		-0-			28,516,049			-0-		28,516,049
Local Governments - US Municipal Bonds		-0-			20,151,786			-0-		20,151,786
Emerging Markets - Sovereigns		-0-			7,066,027			-0-		7,066,027
Local Governments - Canadian Municipal Bonds		-0-			2,603,703			-0-		2,603,703
Common Stocks		48,246			-0-			-0-		48,246
Emerging Markets - Treasuries		-0-			1			-0-		1
Short-Term Investments:
Investment Companies		99,544,970			-0-			-0-		99,544,970
Treasury Bills		-0-			65,731,122			-0-		65,731,122
Time Deposits		21,317,103			-0-			-0-		21,317,103

Total Investments in Securities		120,910,319			6,643,063,029			4,269,938		6,768,243,286
*Other Financial Instruments:**
Assets
Futures		12,855,881			-0-			-0-		12,855,881
Forward Currency Exchange Contracts		-0-			2,265,132			-0-		2,265,132
Centrally Cleared Credit Default Swaps		-0-			1,250,640			-0-		1,250,640
Centrally Cleared Interest Rate Swaps		-0-			2,803,788			-0-		2,803,788
Liabilities
Futures		(6,143,732	)		-0-			-0-		(6,143,732	)
Forward Currency Exchange Contracts		-0-			(80,668,909	)		-0-		(80,668,909	)
Centrally Cleared Credit Default Swaps		-0-			(672,065	)		-0-		(672,065	)

Total	$	127,622,468		$	6,568,041,615		$	4,269,938	$	6,699,934,021

Other financial instruments include derivative instruments, such as futures, forwards and swaps. Derivative instruments are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended June 30, 2025 is as follows:

Fund

Market Value
9/30/24

(000)

Purchases

at Cost

(000)

Sales
Proceeds
(000)

Market Value
6/30/25

(000)

Dividend
Income
(000)

AB Government Money Market Portfolio

97,830

1,762,872

1,761,157

99,545

3,020