Form N-Q for iShares Trust


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 93.76%

AEROSPACE & DEFENSE — 1.80%
Bombardier Inc.
4.25%, 01/15/16^a	$	150	$	155,249
7.50%, 03/15/18^a		100		111,250
Huntington Ingalls Industries Inc.
6.88%, 03/15/18 (Call 03/15/15)		100		107,710
Sequa Corp.
7.00%, 12/15/17 (Call 03/03/14)^a		100		100,267
TransDigm Inc.
7.75%, 12/15/18 (Call 12/15/14)		150		160,500

				634,976
AIR FREIGHT & LOGISTICS — 0.30%
CEVA Group PLC
8.38%, 12/01/17 (Call 03/03/14)^a		100		104,250

				104,250
AIRLINES — 0.45%
Continental Airlines Inc. 2012-3 Pass Through Trust
6.13%, 04/29/18		150		157,875

				157,875
AUTO COMPONENTS — 1.21%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
3.50%, 03/15/17 (Call 02/15/17)^a		175		175,000
Pittsburgh Glass Works LLC
8.00%, 11/15/18 (Call 11/15/15)^a		25		26,938
Schaeffler Finance BV
7.75%, 02/15/17^a		200		225,500

				427,438
AUTOMOBILES — 0.57%
Jaguar Land Rover Automotive PLC
4.13%, 12/15/18^a		200		202,000

				202,000
BEVERAGES — 0.95%
Constellation Brands Inc.
7.25%, 09/01/16		200		227,000
Cott Beverages Inc.
8.13%, 09/01/18 (Call 09/01/14)		100		106,625

				333,625
BIOTECHNOLOGY — 0.30%
STHI Holding Corp.
8.00%, 03/15/18 (Call 03/15/14)^a		100		106,500

				106,500


Security	Principal (000s)		Value

BUILDING PRODUCTS — 1.87%
Associated Materials LLC/AMH New Finance Inc.
9.13%, 11/01/17 (Call 03/03/14)^b	$	100	$	105,797
Euramax International Inc.
9.50%, 04/01/16 (Call 03/03/14)		50		50,353
Griffon Corp.
7.13%, 04/01/18 (Call 04/01/14)		100		105,899
Grifols Inc.
8.25%, 02/01/18 (Call 03/03/14)		100		106,750
Masco Corp.
6.13%, 10/03/16		100		110,375
USG Corp.
9.75%, 01/15/18		150		178,500

				657,674
CAPITAL MARKETS — 0.89%
American Capital Ltd.
6.50%, 09/15/18 (Call 09/15/15)^a		100		104,000
E*TRADE Financial Corp.
6.75%, 06/01/16		100		108,750
Nuveen Investments Inc.
9.13%, 10/15/17 (Call 10/15/14)^a		100		102,375

				315,125
CHEMICALS — 2.07%
Ashland Inc.
3.88%, 04/15/18 (Call 03/15/18)		100		101,707
Celanese U.S. Holdings LLC
6.63%, 10/15/18 (Call 10/15/14)		100		106,081
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC
8.88%, 02/01/18 (Call 03/03/14)		100		104,103
Momentive Performance Materials Inc.
11.50%, 12/01/16 (Call 03/03/14)		50		38,598
Perstorp Holding AB
8.75%, 05/15/17 (Call 05/15/15)^a		200		214,000
PQ Corp.
8.75%, 05/01/18 (Call 11/01/14)^a		150		164,062

				728,551
COMMERCIAL BANKS — 4.89%
CIT Group Inc.
4.75%, 02/15/15^a,b		350		361,550
5.00%, 05/15/17		100		106,750
5.25%, 04/01/14^a		150		150,750
5.25%, 03/15/18		350		372,976
6.63%, 04/01/18^a		100		111,650
Globe Luxembourg SCA
9.63%, 05/01/18 (Call 05/01/17)^a		200		209,580
Royal Bank of Scotland Group PLC
4.70%, 07/03/18		50		51,500
5.00%, 10/01/14		200		203,800
5.05%, 01/08/15		100		102,500
Synovus Financial Corp.
5.13%, 06/15/17		50		52,375

				1,723,431
COMMERCIAL SERVICES & SUPPLIES — 3.61%
ADT Corp. (The)
2.25%, 07/15/17		100		98,313


Security	Principal (000s)		Value

Algeco Scotsman Global Finance PLC
8.50%, 10/15/18 (Call 10/15/15)^a,b	$	200	$	217,000
Cenveo Corp.
8.88%, 02/01/18 (Call 03/03/14)		50		49,694
DynCorp International Inc.
10.38%, 07/01/17 (Call 07/01/14)		50		51,384
Interactive Data Corp.
10.25%, 08/01/18 (Call 08/01/14)^b		250		271,875
iPayment Inc.
10.25%, 05/15/18 (Call 05/15/15)		50		38,000
R.R. Donnelley & Sons Co.
7.25%, 05/15/18^b		100		114,500
Safway Group Holding LLC/Safway Finance Corp.
7.00%, 05/15/18 (Call 05/15/15)^a		100		105,285
TransUnion LLC/TransUnion Financing Corp.
11.38%, 06/15/18 (Call 06/15/14)		200		216,625
West Corp.
8.63%, 10/01/18 (Call 10/01/14)		100		107,800

				1,270,476
COMMUNICATIONS EQUIPMENT — 1.03%
Alcatel-Lucent USA Inc.
4.63%, 07/01/17^a		200		200,750
CommScope Inc.
8.25%, 01/15/19 (Call 01/15/15)^a		150		162,563

				363,313
COMPUTERS & PERIPHERALS — 0.15%
Dell Inc.
5.65%, 04/15/18		50		51,342

				51,342
CONSTRUCTION & ENGINEERING — 0.92%
Abengoa Finance SAU
8.88%, 11/01/17^a		150		164,325
Aguila 3 SA
7.88%, 01/31/18 (Call 03/03/14)^a		150		159,188

				323,513
CONSTRUCTION MATERIALS — 0.80%
Lafarge SA
6.50%, 07/15/16		100		110,289
Vulcan Materials Co.
6.40%, 11/30/17		150		171,000

				281,289
CONSUMER FINANCE — 9.14%
Ally Financial Inc.
3.50%, 07/18/16		100		102,625
3.50%, 01/27/19		100		98,625
4.50%, 02/11/14		250		250,124
6.25%, 12/01/17		250		276,769
8.00%, 12/31/18		100		117,444
8.30%, 02/12/15		250		265,924
General Motors Financial Co. Inc.
2.75%, 05/15/16^a		200		202,143
4.75%, 08/15/17^a		150		158,855
6.75%, 06/01/18		150		170,783


Security	Principal (000s)		Value

SLM Corp.
3.88%, 09/10/15	$	150	$	153,690
5.05%, 11/14/14		150		154,106
6.00%, 01/25/17		300		324,001
8.45%, 06/15/18		350		404,933
Springleaf Finance Corp.
6.90%, 12/15/17		300		327,000
Series I
5.40%, 12/01/15		100		105,000
TMX Finance LLC/TitleMax Finance Corp.
8.50%, 09/15/18 (Call 09/15/15)^a		100		106,750

				3,218,772
CONTAINERS & PACKAGING — 1.64%
Ardagh Packaging Finance PLC
7.38%, 10/15/17 (Call 10/15/14)^a		200		214,000
Berry Plastics Corp.
9.50%, 05/15/18 (Call 05/15/14)		100		106,537
Beverage Packaging Holdings Luxembourg II SA/Beverage Packaging Holdings II
5.63%, 12/15/16 (Call 12/15/15)^a		25		25,500
6.00%, 06/15/17 (Call 06/15/16)^a,b		125		127,812
Cascades Inc.
7.75%, 12/15/17 (Call 03/03/14)		100		104,094

				577,943
DISTRIBUTORS — 0.23%
VWR Funding Inc.
7.25%, 09/15/17 (Call 09/15/14)		75		80,063

				80,063
DIVERSIFIED FINANCIAL SERVICES — 0.71%
Affinion Investments LLC
13.50%, 08/15/18 (Call 12/12/16)^a		50		49,462
National Money Mart Co.
10.38%, 12/15/16 (Call 03/03/14)		100		98,500
Nationstar Mortgage LLC/Nationstar Capital Corp.
6.50%, 08/01/18 (Call 08/01/15)		100		101,250

				249,212
DIVERSIFIED TELECOMMUNICATION SERVICES — 5.03%
CenturyLink Inc.
6.00%, 04/01/17		200		219,500
Series R
5.15%, 06/15/17		100		107,000
Cincinnati Bell Inc.
8.75%, 03/15/18 (Call 03/15/14)		50		52,250
Frontier Communications Corp.
8.13%, 10/01/18		50		56,875
8.25%, 04/15/17		100		115,625
Intelsat (Luxembourg) SA
6.75%, 06/01/18 (Call 06/01/15)^a		100		106,250
Telesat Canada/Telesat LLC
6.00%, 05/15/17 (Call 05/15/14)^a,b		150		155,625
UPC Holding BV
9.88%, 04/15/18 (Call 04/15/14)^a		100		106,500
Wind Acquisition Holdings Finance SA
7.25%, 02/15/18 (Call 03/03/14)^a		200		210,000
11.75%, 07/15/17 (Call 03/03/14)^a		200		210,500
12.25%, 07/15/17 (Call 03/03/14)^a		100		103,000
Windstream Corp.
7.88%, 11/01/17		100		114,000
8.13%, 09/01/18 (Call 09/01/14)		200		213,750

				1,770,875


Security	Principal (000s)		Value

ELECTRIC UTILITIES — 1.06%
DPL Inc.
6.50%, 10/15/16 (Call 09/15/16)	$	100	$	107,242
EDP Finance BV
6.00%, 02/02/18^a		150		162,015
RRI Energy Inc.
7.88%, 06/15/17		100		104,605

				373,862
ELECTRICAL EQUIPMENT — 0.29%
WireCo WorldGroup Inc.
9.50%, 05/15/17 (Call 03/03/14)		100		103,125

				103,125
FOOD & STAPLES RETAILING — 0.62%
SUPERVALU Inc.
8.00%, 05/01/16		100		110,000
Tops Holding Corp./Tops Markets LLC
8.88%, 12/15/17 (Call 06/15/15)^a		100		109,000

				219,000
FOOD PRODUCTS — 1.23%
Bumble Bee Holdings Inc.
9.00%, 12/15/17 (Call 12/15/14)^a		96		104,520
Michael Foods Group Inc.
9.75%, 07/15/18 (Call 07/15/14)		100		108,437
Smithfield Foods Inc.
5.25%, 08/01/18 (Call 08/01/15)^a,b		100		103,750
7.75%, 07/01/17		100		116,000

				432,707
GAS UTILITIES — 0.62%
Sabine Pass LNG LP
7.50%, 11/30/16		150		166,805
Suburban Propane Partners LP/Suburban Energy Finance Corp.
7.50%, 10/01/18 (Call 10/01/14)		50		53,356

				220,161
HEALTH CARE EQUIPMENT & SUPPLIES — 1.75%
Alere Inc.
7.25%, 07/01/18 (Call 12/15/15)		200		219,000
DJO Finance LLC/DJO Finance Corp.
9.88%, 04/15/18 (Call 04/15/15)		100		109,000
Kinetic Concepts Inc./KCI USA Inc.
10.50%, 11/01/18 (Call 11/01/15)		250		288,437

				616,437
HEALTH CARE PROVIDERS & SERVICES — 3.52%
CHS/Community Health Systems Inc.
5.13%, 08/15/18 (Call 08/15/15)		200		210,750
Fresenius Medical Care US Finance Inc.
6.88%, 07/15/17		100		113,250
HCA Holdings Inc.
6.38%, 01/15/15		200		208,250
8.00%, 10/01/18		50		59,375


Security	Principal (000s)		Value

Health Net Inc
6.38%, 06/01/17	$	100	$	109,000
MedImpact Holdings Inc.
10.50%, 02/01/18 (Call 02/01/15)^a		100		108,500
MultiPlan Inc.
9.88%, 09/01/18 (Call 09/01/14)^a		100		108,500
Radiation Therapy Services Inc.
8.88%, 01/15/17 (Call 05/15/14)		100		103,250
Tenet Healthcare Corp.
6.25%, 11/01/18		100		110,250
9.25%, 02/01/15		100		107,500

				1,238,625
HEALTH CARE TECHNOLOGY — 0.33%
IMS Health Inc.
12.50%, 03/01/18 (Call 03/01/15)^a		100		115,500

				115,500
HOTELS, RESTAURANTS & LEISURE — 3.85%
Burger King Corp.
9.88%, 10/15/18 (Call 10/15/14)		75		82,594
Caesars Entertainment Operating Co. Inc.
10.75%, 02/01/16 (Call 03/03/14)		100		79,000
11.25%, 06/01/17 (Call 03/03/14)		300		304,500
GLP Capital LP/GLP Financing II Inc.
4.38%, 11/01/18 (Call 08/01/18)^a		50		51,250
MGM Resorts International
7.50%, 06/01/16		250		279,375
7.63%, 01/15/17		150		170,210
11.38%, 03/01/18		100		128,625
Palace Entertainment Holdings LLC/Palace Entertainment Holdings Corp.
8.88%, 04/15/17 (Call 04/15/14)^a		100		102,750
Peninsula Gaming LLC/Peninsula Gaming Corp.
8.38%, 02/15/18 (Call 08/15/14)^a		100		108,000
ROC Finance LLC/ROC Finance 1 Corp.
12.13%, 09/01/18 (Call 09/01/14)^a		50		50,687

				1,356,991
HOUSEHOLD DURABLES — 1.75%
DR Horton Inc.
4.75%, 05/15/17		150		158,625
Jarden Corp.
7.50%, 05/01/17		100		115,000
Lennar Corp.
4.75%, 12/15/17 (Call 09/15/17)		100		104,500
Standard Pacific Corp.
8.38%, 05/15/18		100		117,250
Toll Brothers Finance Corp.
8.91%, 10/15/17		100		120,250

				615,625
HOUSEHOLD PRODUCTS — 0.28%
Central Garden and Pet Co.
8.25%, 03/01/18 (Call 03/03/14)		100		97,500

				97,500
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 1.93%
AES Corp. (The)
8.00%, 10/15/17		200		232,977
9.75%, 04/15/16		100		116,550


Security	Principal (000s)		Value

Atlantic Power Corp.
9.00%, 11/15/18 (Call 11/15/14)	$	50	$	53,250
GenOn Energy Inc.
9.50%, 10/15/18^b		50		53,657
NRG Energy Inc.
7.63%, 01/15/18		200		225,095

				681,529
INTERNET SOFTWARE & SERVICES — 0.07%
IAC/InterActiveCorp
4.88%, 11/30/18 (Call 11/30/14)^a		25		25,563

				25,563
IT SERVICES — 0.45%
iGATE Corp.
9.00%, 05/01/16 (Call 05/01/14)^b		100		105,625
Michael Baker International LLC/CDL Acquisition Co. Inc.
8.25%, 10/15/18 (Call 04/15/16)^a		50		51,875

				157,500
LEISURE EQUIPMENT & PRODUCTS — 0.15%
Easton-Bell Sports Inc.
9.75%, 12/01/16 (Call 03/03/14)		50		52,063

				52,063
MACHINERY — 2.06%
Case New Holland Inc.
7.88%, 12/01/17		200		233,750
CNH Capital LLC
3.63%, 04/15/18		100		101,250
6.25%, 11/01/16		150		164,625
SPX Corp.
6.88%, 09/01/17		200		226,000

				725,625
MARINE — 0.71%
BW Group Ltd.
6.63%, 06/28/17^a		100		104,250
CMA CGM SA
8.50%, 04/15/17 (Call 04/15/14)^a		150		146,999

				251,249
MEDIA — 5.57%
Cablevision Systems Corp.
8.63%, 09/15/17		200		233,000
Clear Channel Communications Inc.
14.00%, 02/01/21 (Call 08/01/15)^a		83		76,725
DISH DBS Corp.
4.25%, 04/01/18		100		102,065
4.63%, 07/15/17		200		209,339
6.63%, 10/01/14		200		206,640
7.13%, 02/01/16		150		164,898
7.75%, 05/31/15		150		162,148
inVentiv Health Inc.
9.00%, 01/15/18 (Call 01/15/16)^a		100		105,000
11.00%, 08/15/18 (Call 08/15/14)^a		100		91,000


Security	Principal (000s)		Value

Lamar Media Corp.
7.88%, 04/15/18 (Call 04/15/14)	$	100	$	104,814
Nara Cable Funding Ltd.
8.88%, 12/01/18 (Call 03/03/14)^a		200		216,500
Nielsen Finance LLC/Nielsen Finance Co.
7.75%, 10/15/18 (Call 10/15/14)		100		107,472
Visant Corp.
10.00%, 10/01/17 (Call 03/03/14)		100		96,250
WMG Acquisition Corp.
11.50%, 10/01/18 (Call 10/01/14)		75		85,191

				1,961,042
METALS & MINING — 6.82%
AK Steel Corp.
8.75%, 12/01/18 (Call 12/01/15)		50		56,250
Aleris International Inc.
7.63%, 02/15/18 (Call 03/03/14)		100		105,156
ArcelorMittal SA
4.25%, 08/05/15		150		154,439
4.25%, 03/01/16		200		207,121
6.13%, 06/01/18		200		217,887
9.50%, 02/15/15		150		161,588
Atkore International Inc.
9.88%, 01/01/18 (Call 03/03/14)		90		96,975
Barminco Finance Pty Ltd.
9.00%, 06/01/18^a		100		93,000
Commercial Metals Co.
7.35%, 08/15/18		100		113,649
Essar Steel Algoma Inc.
9.38%, 03/15/15 (Call 03/03/14)^a		50		49,000
FMG Resources (August 2006) Pty Ltd.
6.00%, 04/01/17 (Call 04/01/15)^a,b		200		211,000
6.88%, 02/01/18 (Call 03/03/14)^a		100		105,000
7.00%, 11/01/15 (Call 03/14/14)^a		129		134,160
JMC Steel Group Inc.
8.25%, 03/15/18 (Call 03/15/14)^a,b		100		103,375
Novelis Inc.
8.38%, 12/15/17 (Call 03/03/14)		150		159,851
Ryerson Inc./Joseph T Ryerson & Son Inc.
9.00%, 10/15/17 (Call 04/15/15)^b		100		107,875
Thompson Creek Metals Co. Inc.
9.75%, 12/01/17 (Call 12/01/15)		100		111,000
United States Steel Corp.
7.00%, 02/01/18^b		100		109,250
Wise Metals Group LLC/Wise Alloys Finance Corp.
8.75%, 12/15/18 (Call 06/15/16)^a		100		106,000

				2,402,576
MULTILINE RETAIL — 0.38%
Sears Holdings Corp.
6.63%, 10/15/18^b		150		134,625

				134,625
OIL, GAS & CONSUMABLE FUELS — 7.30%
Alpha Natural Resources Inc.
9.75%, 04/15/18^b		50		52,618
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.
9.63%, 10/15/18 (Call 10/15/14)		50		53,396
Aurora USA Oil & Gas Inc.
9.88%, 02/15/17 (Call 02/15/15)^a		100		107,662
Chesapeake Energy Corp.
6.50%, 08/15/17		100		112,466
7.25%, 12/15/18		50		57,880
9.50%, 02/15/15		150		161,948


Security	Principal (000s)		Value

CONSOL Energy Inc.
8.00%, 04/01/17 (Call 04/01/14)	$	200	$	209,296
Crosstex Energy LP/Crosstex Energy Finance Corp.
8.88%, 02/15/18 (Call 03/03/14)		100		104,824
El Paso LLC
7.00%, 06/15/17		100		113,174
Endeavour International Corp.
12.00%, 03/01/18 (Call 03/01/15)		50		51,644
Energy XXI Gulf Coast Inc.
9.25%, 12/15/17 (Call 12/15/14)		100		109,688
EPL Oil & Gas Inc.
8.25%, 02/15/18 (Call 02/15/15)		100		107,263
EXCO Resources Inc.
7.50%, 09/15/18 (Call 09/15/14)		100		98,641
Expro Finance Luxembourg SCA
8.50%, 12/15/16 (Call 03/03/14)^a		100		104,423
Kinder Morgan Finance Co. LLC
6.00%, 01/15/18^a		250		271,881
NGPL PipeCo LLC
7.12%, 12/15/17^a		150		139,050
Niska Gas Storage US LLC/Niska Gas Storage Canada ULC
8.88%, 03/15/18 (Call 03/15/14)		100		103,833
Peabody Energy Corp.
6.00%, 11/15/18		150		159,627
PetroQuest Energy Inc.
10.00%, 09/01/17 (Call 09/01/14)		50		52,000
Quicksilver Resources Inc.
7.13%, 04/01/16 (Call 03/03/14)		100		95,750
Rain CII Carbon LLC/CII Carbon Corp.
8.00%, 12/01/18 (Call 12/01/14)^a		100		104,000
Rockies Express Pipeline LLC
3.90%, 04/15/15^a		100		100,407
6.85%, 07/15/18^a		50		49,094
Ultra Petroleum Corp.
5.75%, 12/15/18 (Call 12/15/15)^a		50		51,375

				2,571,940
PHARMACEUTICALS — 1.06%
Lantheus Medical Imaging Inc.
9.75%, 05/15/17 (Call 05/15/14)		50		46,250
Valeant Pharmaceuticals International Inc.
6.88%, 12/01/18 (Call 12/01/14)^a		100		106,625
VPII Escrow Corp./Valeant Pharmaceuticals International Inc.
6.75%, 08/15/18 (Call 08/15/15)^a		200		219,500

				372,375
PROFESSIONAL SERVICES — 0.30%
RSI Home Products Inc.
6.88%, 03/01/18 (Call 03/01/15)^a		100		104,693

				104,693
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.60%
Crescent Resources LLC/Crescent Ventures Inc.
10.25%, 08/15/17 (Call 08/15/15)^a		100		109,250
Realogy Group LLC/Sunshine Group Florida Ltd. (The)
3.38%, 05/01/16^a		100		100,500

				209,750


Security	Principal (000s)		Value

ROAD & RAIL — 1.05%
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
8.25%, 01/15/19 (Call 10/15/14)	$	100	$	107,657
Florida East Coast Railway Corp.
8.13%, 02/01/17 (Call 03/03/14)		100		104,350
Hertz Corp. (The)
7.50%, 10/15/18 (Call 10/15/14)		50		53,361
Kenan Advantage Group Inc. (The)
8.38%, 12/15/18 (Call 12/15/14)^a		100		105,500

				370,868
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.86%
Advanced Micro Devices Inc.
8.13%, 12/15/17 (Call 03/03/14)		100		104,522
NXP BV/NXP Funding LLC
3.75%, 06/01/18^a		200		200,000

				304,522
SOFTWARE — 0.65%
Infor US Inc.
11.50%, 07/15/18 (Call 07/15/15)		100		115,500
NuStar Logistics LP
8.15%, 04/15/18		100		112,515

				228,015
SPECIALTY RETAIL — 1.90%
AutoNation Inc.
6.75%, 04/15/18		100		114,750
Best Buy Co. Inc.
5.00%, 08/01/18		100		102,125
Gymboree Corp. (The)
9.13%, 12/01/18 (Call 12/01/14)^b		50		44,625
L Brands Inc.
6.90%, 07/15/17		100		115,250
Michaels Stores Inc.
7.75%, 11/01/18 (Call 11/01/14)		150		160,500
Toys R Us Inc.
10.38%, 08/15/17 (Call 02/15/15)^b		100		81,000
Toys R Us Property Co. II LLC
8.50%, 12/01/17 (Call 03/03/14)		50		50,875

				669,125
TOBACCO — 0.30%
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC
8.50%, 05/15/18 (Call 05/15/14)		100		105,000

				105,000
TRADING COMPANIES & DISTRIBUTORS — 3.70%
Aircastle Ltd.
6.75%, 04/15/17		100		111,745
9.75%, 08/01/18 (Call 08/01/14)		100		108,500
International Lease Finance Corp.
3.88%, 04/15/18		100		100,500
5.75%, 05/15/16		200		214,033
6.50%, 09/01/14^a		200		205,502
7.13%, 09/01/18^a		100		115,633
8.63%, 09/15/15		150		165,304
8.75%, 03/15/17		150		174,545


Security	Principal or Shares (000s)		Value

United Rentals (North America) Inc.
5.75%, 07/15/18 (Call 07/15/15)	$	100	$	107,000

				1,302,762
WIRELESS TELECOMMUNICATION SERVICES — 4.04%
MetroPCS Wireless Inc.
7.88%, 09/01/18 (Call 09/01/14)		150		160,312
Sprint Communications Inc.
6.00%, 12/01/16		150		162,750
8.38%, 08/15/17		400		462,000
9.00%, 11/15/18^a		400		482,000
T-Mobile USA Inc.
5.25%, 09/01/18 (Call 09/01/15)^a		100		105,500
Trilogy International Partners LLC/Trilogy International Finance Inc.
10.25%, 08/15/16 (Call 03/03/14)^a		50		50,750

				1,423,312

TOTAL CORPORATE BONDS & NOTES
(Cost: $32,950,874)				33,021,910

SHORT-TERM INVESTMENTS — 11.88%

MONEY MARKET FUNDS — 11.88%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^c,d,e		1,897		1,896,653
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^c,d,e		163		163,082
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,d		2,125		2,124,836

				4,184,571

TOTAL SHORT-TERM INVESTMENTS
(Cost: $4,184,571)				4,184,571


TOTAL INVESTMENTS IN SECURITIES — 105.64%
(Cost: $37,135,445)				37,206,481
Other Assets, Less Liabilities — (5.64)%				(1,987,195	)

NET ASSETS — 100.00%			$	35,219,286

^a	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	Affiliated issuer. See Note 2.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

^e	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 98.14%

AEROSPACE & DEFENSE — 1.01%
Boeing Co. (The)
3.50%, 02/15/15	$	25	$	25,765
Precision Castparts Corp.
0.70%, 12/20/15		25		25,048
United Technologies Corp.
1.80%, 06/01/17		50		50,992

				101,805
BEVERAGES — 3.63%
Anheuser-Busch InBev Worldwide Inc.
0.80%, 07/15/15		100		100,417
Bottling Group LLC
5.50%, 04/01/16		50		55,004
Coca-Cola Co. (The)
1.15%, 04/01/18		50		49,156
1.80%, 09/01/16		50		51,273
Diageo Capital PLC
5.75%, 10/23/17		50		57,340
PepsiCo Inc.
2.50%, 05/10/16		50		51,927

				365,117
BIOTECHNOLOGY — 0.52%
Amgen Inc.
2.50%, 11/15/16		50		51,937

				51,937
CAPITAL MARKETS — 9.52%
Bank of New York Mellon Corp. (The)
2.10%, 08/01/18		50		50,167
Credit Suisse (USA) Inc.
4.88%, 01/15/15		100		104,163
Deutsche Bank AG London
3.45%, 03/30/15		100		103,311
Goldman Sachs Group Inc. (The)
2.90%, 07/19/18		25		25,501
5.95%, 01/18/18		150		170,781
6.00%, 05/01/14		100		101,296
Jefferies Group LLC
5.13%, 04/13/18		50		54,565
Morgan Stanley
4.75%, 04/01/14		100		100,655
4.75%, 03/22/17		200		218,778
State Street Corp.
4.96%, 03/15/18		25		27,406

				956,623
CHEMICALS — 1.55%
Dow Chemical Co. (The)
2.50%, 02/15/16		50		51,461


Security	Principal (000s)		Value

E.I. du Pont de Nemours and Co.
3.25%, 01/15/15	$	50	$	51,357
Ecolab Inc.
3.00%, 12/08/16		50		52,558

				155,376
COMMERCIAL BANKS — 15.40%
Bank of Montreal
1.30%, 07/15/16		75		75,627
Bank of Nova Scotia
1.38%, 07/15/16		100		101,091
Barclays Bank PLC
5.20%, 07/10/14		100		102,125
BB&T Corp.
2.05%, 06/19/18 (Call 05/15/18)		75		74,885
BNP Paribas SA
2.40%, 12/12/18		25		25,023
3.60%, 02/23/16		75		79,160
Canadian Imperial Bank of Commerce
1.55%, 01/23/18 (Call 12/23/17)		50		49,407
Fifth Third Bancorp
3.63%, 01/25/16		25		26,259
HSBC USA Inc.
2.38%, 02/13/15		100		101,954
PNC Funding Corp.
5.25%, 11/15/15^a		50		53,798
Rabobank Nederland
3.38%, 01/19/17		75		79,864
Royal Bank of Canada
0.85%, 03/08/16		50		50,098
2.20%, 07/27/18		50		50,621
Royal Bank of Scotland Group PLC
2.55%, 09/18/15		75		76,591
Santander Holdings USA Inc.
3.45%, 08/27/18 (Call 07/27/18)		50		51,587
Toronto-Dominion Bank (The)
2.38%, 10/19/16		50		51,885
2.63%, 09/10/18		25		25,825
U.S. Bancorp
3.15%, 03/04/15		75		77,217
Wachovia Corp./Wells Fargo & Co.
5.25%, 08/01/14		100		102,282
Wells Fargo & Co.
1.25%, 07/20/16		75		75,705
5.63%, 12/11/17		100		114,823
Westpac Banking Corp.
2.25%, 01/17/19		50		50,090
3.00%, 08/04/15		50		51,841

				1,547,758
COMMUNICATIONS EQUIPMENT — 0.55%
Cisco Systems Inc.
5.50%, 02/22/16		50		54,952

				54,952
COMPUTERS & PERIPHERALS — 1.76%
Apple Inc.
1.00%, 05/03/18		50		48,718
EMC Corp.
1.88%, 06/01/18		25		25,009


Security	Principal (000s)		Value

Hewlett-Packard Co.
3.30%, 12/09/16	$	50	$	52,560
6.13%, 03/01/14		50		50,194

				176,481
CONSTRUCTION MATERIALS — 0.28%
CRH America Inc.
6.00%, 09/30/16		25		27,817

				27,817
CONSUMER FINANCE — 7.23%
American Express Co.
7.00%, 03/19/18		50		59,886
American Express Credit Corp.
1.75%, 06/12/15		100		101,587
Capital One Financial Corp.
6.75%, 09/15/17		50		58,612
Caterpillar Financial Services Corp.
5.45%, 04/15/18		25		28,571
Series G
1.25%, 11/06/17		50		49,599
Ford Motor Credit Co. LLC
7.00%, 04/15/15		100		107,184
8.00%, 12/15/16		100		117,802
John Deere Capital Corp.
0.95%, 06/29/15		75		75,496
Toyota Motor Credit Corp.
2.00%, 10/24/18		50		50,251
2.05%, 01/12/17		75		77,230

				726,218
DIVERSIFIED FINANCIAL SERVICES — 13.58%
Bank of America Corp.
2.60%, 01/15/19		25		25,148
5.25%, 12/01/15		50		53,795
5.75%, 12/01/17		100		113,883
Series 1
3.75%, 07/12/16		100		106,304
BP Capital Markets PLC
2.24%, 09/26/18		50		50,573
3.63%, 05/08/14		100		100,831
Citigroup Inc.
1.70%, 07/25/16		100		101,181
2.50%, 09/26/18		100		100,816
4.75%, 05/19/15		50		52,468
5.00%, 09/15/14		50		51,331
6.38%, 08/12/14		50		51,466
General Electric Capital Corp.
1.50%, 07/12/16^b		100		101,352
1.60%, 11/20/17		100		100,026
J.P. Morgan Chase & Co.
1.63%, 05/15/18^b		150		147,616
4.65%, 06/01/14		100		101,349
5.15%, 10/01/15		100		106,533

				1,364,672
DIVERSIFIED TELECOMMUNICATION SERVICES — 4.92%
AT&T Inc.
1.70%, 06/01/17		100		100,778
5.10%, 09/15/14		100		102,782


Security	Principal (000s)		Value

Orange
2.13%, 09/16/15	$	50	$	50,884
Telefonica Emisiones SAU
6.42%, 06/20/16		50		55,680
Verizon Communications Inc.
2.50%, 09/15/16		75		77,640
3.65%, 09/14/18		100		106,370

				494,134
ELECTRIC UTILITIES — 1.02%
Duke Energy Corp.
2.10%, 06/15/18 (Call 05/15/18)		50		50,285
Entergy Corp.
4.70%, 01/15/17 (Call 12/15/16)		25		26,935
Southern Co. (The)
2.45%, 09/01/18		25		25,623

				102,843
ELECTRICAL EQUIPMENT — 0.25%
Eaton Corp.
1.50%, 11/02/17		25		24,952

				24,952
ENERGY EQUIPMENT & SERVICES — 0.50%
Transocean Inc.
2.50%, 10/15/17		50		50,500

				50,500
FOOD & STAPLES RETAILING — 2.24%
Costco Wholesale Corp.
0.65%, 12/07/15		50		50,126
CVS Caremark Corp.
2.25%, 12/05/18 (Call 11/05/18)		25		25,218
Wal-Mart Stores Inc.
0.60%, 04/11/16		100		99,982
Walgreen Co.
1.00%, 03/13/15		50		50,241

				225,567
FOOD PRODUCTS — 1.41%
ConAgra Foods Inc.
1.90%, 01/25/18		25		24,872
Kraft Foods Group Inc.
6.13%, 08/23/18		50		58,631
Mondelez International Inc.
6.50%, 08/11/17		50		58,164

				141,667
HEALTH CARE EQUIPMENT & SUPPLIES — 1.27%
Baxter International Inc.
0.95%, 06/01/16		50		50,142
Medtronic Inc.
3.00%, 03/15/15		50		51,471


Security	Principal (000s)		Value

Stryker Corp.
2.00%, 09/30/16	$	25	$	25,688

				127,301
HEALTH CARE PROVIDERS & SERVICES — 1.79%
Express Scripts Holding Co.
3.50%, 11/15/16		75		79,520
UnitedHealth Group Inc.
0.85%, 10/15/15		50		50,148
WellPoint Inc.
1.25%, 09/10/15		50		50,407

				180,075
HOTELS, RESTAURANTS & LEISURE — 0.58%
McDonald’s Corp.
5.80%, 10/15/17		50		57,838

				57,838
HOUSEHOLD PRODUCTS — 0.52%
Procter & Gamble Co. (The)
3.15%, 09/01/15		50		52,107

				52,107
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.28%
Exelon Generation Co. LLC
6.20%, 10/01/17		25		28,358

				28,358
INDUSTRIAL CONGLOMERATES — 0.85%
General Electric Co.
5.25%, 12/06/17		75		85,197

				85,197
INSURANCE — 3.12%
American International Group Inc.
3.80%, 03/22/17		100		106,767
Berkshire Hathaway Inc.
2.20%, 08/15/16		100		103,565
MetLife Inc.
1.76%, 12/15/17		50		50,133
Prudential Financial Inc. Series D
4.75%, 09/17/15		50		53,162

				313,627
IT SERVICES — 1.48%
International Business Machines Corp.
0.45%, 05/06/16		150		149,094

				149,094
LIFE SCIENCES TOOLS & SERVICES — 0.52%
Thermo Fisher Scientific Inc.
3.20%, 03/01/16		50		52,206

				52,206


Security	Principal (000s)		Value

MEDIA — 3.72%
Comcast Corp.
5.70%, 05/15/18	$	50	$	57,732
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
3.50%, 03/01/16		50		52,487
Omnicom Group Inc.
5.90%, 04/15/16		25		27,591
Thomson Reuters Corp.
0.88%, 05/23/16		25		24,829
Time Warner Cable Inc.
5.85%, 05/01/17		50		54,909
Time Warner Inc.
5.88%, 11/15/16		50		56,207
Viacom Inc.
1.25%, 02/27/15		50		50,322
Walt Disney Co. (The)
0.45%, 12/01/15		50		49,986

				374,063
METALS & MINING — 1.79%
Alcoa Inc.
6.75%, 07/15/18		25		28,392
BHP Billiton Finance (USA) Ltd.
1.63%, 02/24/17		50		50,673
Rio Tinto Finance (USA) PLC
1.38%, 06/17/16		100		100,589

				179,654
MULTI-UTILITIES — 0.57%
Dominion Resources Inc.
6.40%, 06/15/18		25		29,304
National Grid PLC
6.30%, 08/01/16		25		28,064

				57,368
OFFICE ELECTRONICS — 0.77%
Xerox Corp.
4.25%, 02/15/15		75		77,633

				77,633
OIL, GAS & CONSUMABLE FUELS — 6.50%
Anadarko Petroleum Corp.
5.95%, 09/15/16		50		55,766
Chevron Corp.
1.72%, 06/24/18 (Call 05/24/18)		50		50,107
ConocoPhillips Canada Funding Co. I
5.63%, 10/15/16		50		56,348
Devon Energy Corp.
6.30%, 01/15/19		25		29,503
Enterprise Products Operating LLC
1.25%, 08/13/15		50		50,427
Kinder Morgan Energy Partners LP
5.95%, 02/15/18		25		28,534
Marathon Oil Corp.
0.90%, 11/01/15		50		50,087
Occidental Petroleum Corp.
1.75%, 02/15/17		50		50,948


Security	Principal (000s)		Value

Petrohawk Energy Corp.
7.25%, 08/15/18 (Call 08/15/14)	$	25	$	26,781
Phillips 66
2.95%, 05/01/17		25		26,159
Shell International Finance BV
2.00%, 11/15/18		25		25,201
3.10%, 06/28/15		75		77,762
Total Capital International SA
1.00%, 08/12/16		75		75,200
TransCanada PipeLines Ltd.
0.75%, 01/15/16		50		50,022

				652,845
PHARMACEUTICALS — 4.03%
AbbVie Inc.
1.20%, 11/06/15		50		50,443
1.75%, 11/06/17		25		25,074
AstraZeneca PLC
5.40%, 06/01/14		25		25,399
GlaxoSmithKline Capital PLC
1.50%, 05/08/17		75		75,679
Johnson & Johnson
2.15%, 05/15/16		50		51,779
Merck & Co. Inc.
1.10%, 01/31/18		50		49,136
Novartis Capital Corp.
2.90%, 04/24/15		25		25,766
Pfizer Inc.
1.50%, 06/15/18		50		49,690
Sanofi
2.63%, 03/29/16		50		51,994

				404,960
REAL ESTATE INVESTMENT TRUSTS (REITS) — 0.76%
Simon Property Group LP
2.15%, 09/15/17 (Call 06/15/17)		75		76,710

				76,710
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.50%
Intel Corp.
1.35%, 12/15/17		50		49,838

				49,838
SOFTWARE — 1.34%
Microsoft Corp.
1.63%, 09/25/15		50		51,039
Oracle Corp.
2.38%, 01/15/19		25		25,434
5.75%, 04/15/18		50		58,098

				134,571
SPECIALTY RETAIL — 0.55%
Home Depot Inc. (The)
5.40%, 03/01/16		50		54,903

				54,903


Security	Principal or Shares (000s)		Value

TOBACCO — 0.84%
Altria Group Inc.
4.13%, 09/11/15	$	25	$	26,333
Philip Morris International Inc.
5.65%, 05/16/18		50		57,757

				84,090
WIRELESS TELECOMMUNICATION SERVICES — 0.99%
Vodafone Group PLC
0.90%, 02/19/16		50		50,030
1.50%, 02/19/18		50		49,352

				99,382

TOTAL CORPORATE BONDS & NOTES
(Cost: $9,818,501)				9,860,239

FOREIGN AGENCY OBLIGATIONS — 0.76%

NORWAY — 0.76%
Statoil ASA
1.80%, 11/23/16		75		76,735

				76,735

TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $76,710)				76,735

SHORT-TERM INVESTMENTS — 2.99%

MONEY MARKET FUNDS — 2.99%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^a,c,d		106		106,346
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^a,c,d		9		9,144
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^a,c		185		185,040

				300,530

TOTAL SHORT-TERM INVESTMENTS
(Cost: $300,530)				300,530


TOTAL INVESTMENTS IN SECURITIES — 101.89%
(Cost: $10,195,741)				10,237,504
Other Assets, Less Liabilities — (1.89)%				(190,300	)

NET ASSETS — 100.00%			$	10,047,204

^a	Affiliated issuer. See Note 2.

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal or Shares (000s)		Value

U.S. GOVERNMENT OBLIGATIONS — 99.60%
U.S. Treasury Inflation-Indexed Bonds
0.13%, 04/15/16^a	$	68,546	$	70,655,574
0.13%, 04/15/17		100,136		103,672,508
0.13%, 04/15/18		107,427		110,884,605
0.50%, 04/15/15^a		37,418		38,289,531
1.25%, 04/15/14^a		24,098		24,233,307
1.38%, 07/15/18^a		4,324		4,743,124
1.63%, 01/15/15^a		34,744		35,786,709
1.63%, 01/15/18^a		432		473,639
1.88%, 07/15/15^a		29,104		30,677,895
2.00%, 07/15/14^a		35,964		36,717,100
2.00%, 01/15/16		25,246		26,945,826
2.13%, 01/15/19^a		17,117		19,350,267
2.38%, 01/15/17		35,049		38,751,114
2.50%, 07/15/16^a		26,706		29,376,084
2.63%, 07/15/17^a		3,662		4,146,184

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $575,823,382)				574,703,467

SHORT-TERM INVESTMENTS — 43.77%

MONEY MARKET FUNDS — 43.77%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		206,598		206,597,955
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		17,764		17,764,172
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		28,176		28,175,821

				252,537,948

TOTAL SHORT-TERM INVESTMENTS (Cost: $252,537,948)				252,537,948


TOTAL INVESTMENTS IN SECURITIES — 143.37% (Cost: $828,361,330)				827,241,415
Other Assets, Less Liabilities — (43.37)%				(250,251,702	)

NET ASSETS — 100.00%			$	576,989,713

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)				Value

FOREIGN GOVERNMENT OBLIGATIONS — 97.73%

AUSTRALIA — 3.75%
Australia (Commonwealth of)
4.75%, 10/21/15		AUD	$	1,909	$	1,727,180
4.75%, 06/15/16		AUD		4,814		4,398,380
6.25%, 04/15/15		AUD		449		409,389

						6,534,949
AUSTRIA — 3.69%
Austria (Republic of)
3.40%, 10/20/14^a		EUR		586		808,466
3.50%, 07/15/15^a		EUR		2,170		3,068,575
4.00%, 09/15/16^a		EUR		1,725		2,553,059

						6,430,100
BELGIUM — 4.57%
Belgium (Kingdom of)
2.75%, 03/28/16^a		EUR		1,195		1,696,238
3.25%, 09/28/16^a		EUR		1,300		1,887,597
3.50%, 03/28/15^a		EUR		892		1,248,800
3.75%, 09/28/15^a		EUR		1,472		2,101,585
8.00%, 03/28/15		EUR		699		1,026,214

						7,960,434
CANADA — 3.92%
Canada (Government of)
1.00%, 02/01/15		CAD		950		852,627
1.00%, 05/01/15		CAD		1,433		1,286,146
1.00%, 11/01/15		CAD		750		673,248
1.00%, 08/01/16		CAD		800		716,864
1.25%, 02/01/16		CAD		454		409,555
1.50%, 08/01/15		CAD		47		42,498
2.00%, 12/01/14		CAD		94		85,035
2.00%, 06/01/16		CAD		875		802,760
2.50%, 06/01/15		CAD		20		18,301
2.75%, 09/01/16		CAD		925		865,341
3.00%, 12/01/15		CAD		29		26,964
4.00%, 06/01/16		CAD		1,060		1,016,191
4.50%, 06/01/15		CAD		23		21,589

						6,817,119
DENMARK — 3.97%
Denmark (Kingdom of)
2.50%, 11/15/16		DKK		10,200		1,961,064
4.00%, 11/15/15		DKK		25,593		4,952,001

						6,913,065
FINLAND — 3.46%
Finland (Republic of)
1.75%, 04/15/16^a		EUR		1,903		2,655,881
4.25%, 07/04/15^a		EUR		2,355		3,361,051

						6,016,932


Security	Principal (000s)			Value

FRANCE — 5.19%
France (Republic of)
0.25%, 11/25/15		EUR	550	$	742,541
2.00%, 07/12/15		EUR	532		736,920
2.25%, 02/25/16		EUR	953		1,340,044
2.50%, 01/15/15		EUR	482		664,051
2.50%, 07/25/16		EUR	676		961,974
3.00%, 10/25/15		EUR	1,090		1,542,079
3.25%, 04/25/16		EUR	640		920,577
3.50%, 04/25/15		EUR	1,242		1,742,504
5.00%, 10/25/16		EUR	250		380,301

					9,030,991
GERMANY — 5.07%
Germany (Federal Republic of)
1.25%, 10/14/16		EUR	450		625,108
1.75%, 10/09/15		EUR	760		1,054,481
2.25%, 04/10/15		EUR	109		151,057
2.50%, 02/27/15		EUR	1,562		2,160,674
3.25%, 07/04/15		EUR	785		1,105,781
3.50%, 01/04/16		EUR	1,749		2,513,489
3.75%, 01/04/17		EUR	75		111,744
4.00%, 07/04/16		EUR	649		957,687
6.00%, 06/20/16		EUR	100		153,708

					8,833,729
IRELAND — 4.54%
Ireland (Republic of)
4.50%, 02/18/15		EUR	1,443		2,025,531
4.60%, 04/18/16		EUR	4,027		5,877,683

					7,903,214
ITALY — 5.63%
Italy (Republic of)
2.25%, 05/15/16		EUR	343		473,048
2.75%, 12/01/15		EUR	487		677,826
2.75%, 11/15/16		EUR	250		348,907
3.00%, 04/15/15		EUR	1,418		1,962,288
3.00%, 06/15/15		EUR	646		896,610
3.00%, 11/01/15		EUR	1,306		1,824,135
3.75%, 08/01/15		EUR	641		900,839
3.75%, 04/15/16		EUR	358		509,628
3.75%, 08/01/16		EUR	826		1,179,801
4.25%, 02/01/15		EUR	167		232,998
4.50%, 07/15/15		EUR	50		70,920
4.75%, 09/15/16		EUR	500		731,926

					9,808,926
JAPAN — 21.72%
Japan (Government of)
0.10%, 01/15/15		JPY	329,650		3,232,920
0.10%, 04/15/15		JPY	116,450		1,142,097
0.10%, 05/15/15		JPY	130,150		1,276,487
0.10%, 08/15/15		JPY	179,750		1,763,043
0.10%, 09/15/15		JPY	186,400		1,828,305


Security	Principal (000s)			Value

0.10%, 10/15/15		JPY	25,650	$	251,591
0.20%, 06/15/15		JPY	38,500		378,118
0.20%, 07/15/15		JPY	174,050		1,709,559
0.30%, 06/20/15		JPY	31,500		309,799
0.30%, 09/20/15		JPY	78,650		773,937
0.30%, 06/20/16		JPY	72,450		713,844
0.30%, 09/20/16		JPY	104,000		1,025,091
0.30%, 12/20/16		JPY	225,000		2,218,517
0.40%, 06/20/15		JPY	192,850		1,899,247
0.40%, 09/20/15		JPY	51,450		507,104
0.40%, 06/20/16		JPY	311,850		3,079,880
0.40%, 09/20/16		JPY	246,700		2,437,972
0.40%, 12/20/16		JPY	100,000		988,822
0.50%, 03/20/15		JPY	140,850		1,387,577
0.50%, 12/20/15		JPY	94,400		932,892
0.50%, 03/20/16		JPY	114,650		1,133,932
0.60%, 12/20/15		JPY	21,200		209,896
0.60%, 03/20/16		JPY	51,450		509,929
1.20%, 06/20/15		JPY	20,700		206,087
1.30%, 03/20/15		JPY	101,700		1,010,817
1.30%, 06/20/15		JPY	59,750		595,666
1.40%, 09/20/15		JPY	90,000		901,377
1.40%, 12/20/15		JPY	69,000		693,275
1.50%, 03/20/15		JPY	50,000		498,058
1.50%, 09/20/15		JPY	176,950		1,775,035
1.50%, 12/20/15		JPY	74,300		747,896
1.60%, 12/20/15		JPY	70,800		713,963
1.70%, 09/20/16		JPY	95,000		970,521

					37,823,254
NETHERLANDS — 4.62%
Netherlands (Kingdom of the)
0.00%, 04/15/16^a		EUR	1,090		1,463,178
0.75%, 04/15/15		EUR	1,121		1,522,782
2.50%, 01/15/17^a		EUR	925		1,326,482
3.25%, 07/15/15^a		EUR	1,360		1,915,985
4.00%, 07/15/16^a		EUR	1,234		1,817,091

					8,045,518
NORWAY — 4.47%
Norway (Kingdom of)
5.00%, 05/15/15		NOK	46,784		7,780,585

					7,780,585
PORTUGAL — 4.46%
Portugal (Republic of)
3.35%, 10/15/15^a		EUR	2,867		3,971,940
3.60%, 10/15/14^a		EUR	215		294,743
4.20%, 10/15/16^a		EUR	1,575		2,218,144
6.40%, 02/15/16^a		EUR	877		1,272,318

					7,757,145
SPAIN — 5.13%
Spain (Kingdom of)
2.75%, 03/31/15		EUR	415		572,224
3.00%, 04/30/15		EUR	1,591		2,203,023
3.15%, 01/31/16		EUR	833		1,169,141
3.25%, 04/30/16		EUR	849		1,195,799
3.30%, 10/31/14		EUR	81		111,286


Security	Principal or Shares (000s)			Value

3.30%, 07/30/16		EUR	693	$	978,833
3.75%, 10/31/15		EUR	622		878,994
4.00%, 07/30/15		EUR	807		1,138,134
4.40%, 01/31/15		EUR	491		686,459

					8,933,893
SWEDEN — 4.58%
Sweden (Kingdom of)
3.00%, 07/12/16		SEK	20,560		3,295,655
4.50%, 08/12/15		SEK	28,950		4,674,535

					7,970,190
SWITZERLAND — 3.96%
Switzerland (Confederation of)
2.50%, 03/12/16^b		CHF	3,834		4,468,802
3.75%, 06/10/15^b		CHF	2,093		2,432,608

					6,901,410
UNITED KINGDOM — 5.00%
United Kingdom
1.75%, 01/22/17^b		GBP	1,300		2,183,060
2.00%, 01/22/16^b		GBP	917		1,547,065
4.00%, 09/07/16^b		GBP	925		1,644,969
4.75%, 09/07/15^b		GBP	1,587		2,783,026
8.00%, 12/07/15^b		GBP	292		545,334

					8,703,454

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $169,402,068)					170,164,908

SHORT-TERM INVESTMENTS — 0.07%

MONEY MARKET FUNDS — 0.07%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,d			126		126,146

					126,146

TOTAL SHORT-TERM INVESTMENTS (Cost: $126,146)					126,146


TOTAL INVESTMENTS IN SECURITIES — 97.80% (Cost: $169,528,214)					170,291,054
Other Assets, Less Liabilities — 2.20%					3,826,131

NET ASSETS — 100.00%				$	174,117,185

AUD — Australian Dollar

CAD — Canadian Dollar

CHF — Swiss Franc

DKK — Danish Krone

EUR — Euro

GBP — British Pound

JPY — Japanese Yen

NOK — Norwegian Krone

SEK — Swedish Krona

^a	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

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

^c	Affiliated issuer. See Note 2.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 98.99%

AEROSPACE & DEFENSE — 2.36%
Boeing Co. (The)
3.50%, 02/15/15	$	400	$	413,216
4.88%, 02/15/20		600		678,866
General Dynamics Corp.
1.00%, 11/15/17		150		146,531
2.25%, 07/15/16		100		103,613
3.60%, 11/15/42 (Call 05/15/42)^a		150		129,990
3.88%, 07/15/21 (Call 04/15/21)^a		350		369,066
Honeywell International Inc.
4.25%, 03/01/21		300		329,830
5.30%, 03/01/18		100		114,589
5.38%, 03/01/41		475		554,225
Lockheed Martin Corp.
3.35%, 09/15/21		850		864,996
4.85%, 09/15/41		400		413,389
Precision Castparts Corp.
1.25%, 01/15/18^a		500		493,221
2.50%, 01/15/23 (Call 10/15/22)		300		279,786
Raytheon Co.
2.50%, 12/15/22 (Call 09/15/22)		650		605,595
3.13%, 10/15/20		150		153,187
United Technologies Corp.
1.80%, 06/01/17		900		919,316
3.10%, 06/01/22		1,175		1,171,708
4.50%, 06/01/42		1,400		1,410,320
5.70%, 04/15/40		75		89,106
6.13%, 02/01/19		25		29,681

				9,270,231
AIR FREIGHT & LOGISTICS — 0.47%
United Parcel Service Inc.
2.45%, 10/01/22		850		806,523
3.13%, 01/15/21		50		51,441
4.88%, 11/15/40 (Call 05/15/40)		350		371,006
5.13%, 04/01/19		500		572,750
6.20%, 01/15/38		25		31,261

				1,832,981
AIRLINES — 0.04%
Continental Airlines Inc. 2012-2 Pass Through Trust Class A
4.00%, 04/29/26		150		151,500

				151,500
BEVERAGES — 4.46%
Anheuser-Busch InBev Finance Inc.
2.15%, 02/01/19		1,000		1,007,811
2.63%, 01/17/23		750		707,749
3.70%, 02/01/24		250		253,593
4.63%, 02/01/44		300		305,460
Anheuser-Busch InBev Worldwide Inc.
0.80%, 07/15/15		1,150		1,154,797


Security	Principal (000s)		Value

1.38%, 07/15/17	$	1,700	$	1,699,608
2.50%, 07/15/22		100		94,435
3.75%, 07/15/42		1,100		970,963
8.20%, 01/15/39		250		378,077
Coca-Cola Co. (The)
0.75%, 03/13/15		700		703,415
0.75%, 11/01/16		200		199,501
1.65%, 03/14/18		700		705,432
1.65%, 11/01/18		350		348,962
1.80%, 09/01/16		100		102,728
2.45%, 11/01/20		500		495,219
2.50%, 04/01/23		400		376,736
3.30%, 09/01/21		500		514,272
Coca-Cola FEMSA SAB de CV
2.38%, 11/26/18		250		249,882
3.88%, 11/26/23^a		250		251,145
Diageo Capital PLC
1.50%, 05/11/17		1,225		1,230,794
2.63%, 04/29/23 (Call 01/29/23)^a		750		695,819
Diageo Investment Corp.
4.25%, 05/11/42		350		332,109
PepsiCo Inc.
0.70%, 08/13/15		1,750		1,754,752
0.75%, 03/05/15		75		75,359
2.75%, 03/05/22		1,700		1,653,133
2.75%, 03/01/23		750		707,208
3.60%, 08/13/42		350		299,980
4.00%, 03/05/42		150		136,906
7.90%, 11/01/18		125		157,832

				17,563,677
CAPITAL MARKETS — 7.86%
Ameriprise Financial Inc.
5.30%, 03/15/20^a		500		570,314
Bank of New York Mellon Corp. (The)
0.70%, 10/23/15 (Call 09/23/15)		250		250,359
1.20%, 02/20/15 (Call 01/20/15)		75		75,659
1.35%, 03/06/18 (Call 02/06/18)		500		493,392
2.10%, 01/15/19 (Call 12/15/18)		350		350,242
2.30%, 07/28/16		1,290		1,342,133
3.55%, 09/23/21 (Call 08/23/21)		350		363,699
Charles Schwab Corp. (The)
4.45%, 07/22/20		300		324,781
Credit Suisse (USA) Inc.
5.13%, 08/15/15		775		825,396
5.38%, 03/02/16		75		81,217
Deutsche Bank AG London
3.25%, 01/11/16^a		425		444,106
6.00%, 09/01/17^a		1,150		1,321,969
Goldman Sachs Group Inc. (The)
1.60%, 11/23/15		1,500		1,514,432
2.38%, 01/22/18^a		1,000		1,005,290
2.90%, 07/19/18		300		305,868
3.30%, 05/03/15		1,475		1,519,799
3.63%, 02/07/16		525		550,162
3.63%, 01/22/23		700		682,008
5.25%, 07/27/21		200		219,182
5.35%, 01/15/16		250		269,931
5.75%, 01/24/22		1,350		1,523,006
6.13%, 02/15/33^a		200		228,124
6.15%, 04/01/18		1,575		1,808,805
6.25%, 09/01/17		50		57,252
6.25%, 02/01/41		800		931,003


Security	Principal (000s)		Value

Invesco Finance PLC
3.13%, 11/30/22	$	300	$	286,701
Morgan Stanley
2.13%, 04/25/18^a		500		498,784
3.75%, 02/25/23		500		491,753
3.80%, 04/29/16		1,750		1,847,960
4.00%, 07/24/15		1,000		1,045,309
4.75%, 03/22/17		1,850		2,022,953
5.50%, 01/26/20		550		618,890
5.50%, 07/28/21		850		954,149
5.63%, 09/23/19		850		970,476
5.75%, 01/25/21		150		170,568
6.00%, 04/28/15		550		584,818
6.38%, 07/24/42		875		1,038,107
6.63%, 04/01/18		1,200		1,405,817
Northern Trust Corp.
2.38%, 08/02/22		375		352,983
3.95%, 10/30/25		250		250,733
State Street Corp.
2.88%, 03/07/16		500		522,501
3.10%, 05/15/23		300		284,403
3.70%, 11/20/23		250		255,819
TD Ameritrade Holding Corp.
5.60%, 12/01/19		250		286,913

				30,947,766
CHEMICALS — 0.90%
E.I. du Pont de Nemours and Co.
3.63%, 01/15/21		800		830,248
4.15%, 02/15/43		400		366,895
6.00%, 07/15/18		400		468,154
Lubrizol Corp.
8.88%, 02/01/19		250		324,676
Potash Corp. of Saskatchewan Inc.
5.63%, 12/01/40		250		273,961
Praxair Inc.
2.20%, 08/15/22 (Call 05/15/22)		625		572,964
4.50%, 08/15/19		400		445,845
Sherwin-Williams Co. (The)
1.35%, 12/15/17		250		246,439

				3,529,182
COMMERCIAL BANKS — 16.69%
Abbey National Treasury Services PLC
4.00%, 04/27/16		350		371,885
Australia and New Zealand Banking Group Ltd.
1.45%, 05/15/18		500		490,059
1.88%, 10/06/17		250		252,609
Bank of Montreal
1.30%, 07/15/16		350		353,290
1.40%, 09/11/17		700		696,768
1.45%, 04/09/18 (Call 03/09/18)		300		295,719
2.55%, 11/06/22 (Call 10/06/22)^a		300		280,413
Bank of Nova Scotia
0.75%, 10/09/15		1,000		1,003,155
1.45%, 04/25/18		550		540,965
2.05%, 10/07/15		350		359,010
2.55%, 01/12/17		1,250		1,301,238
Bank One Corp.
8.00%, 04/29/27		25		32,289


Security	Principal (000s)		Value

Barclays Bank PLC
2.75%, 02/23/15	$	100	$	102,570
5.00%, 09/22/16		1,000		1,100,925
5.13%, 01/08/20		400		452,045
6.75%, 05/22/19		250		302,707
BB&T Corp.
1.60%, 08/15/17 (Call 07/14/17)		1,250		1,254,538
5.20%, 12/23/15		500		538,207
BNP Paribas SA
2.38%, 09/14/17		250		255,174
2.40%, 12/12/18		500		500,334
3.25%, 03/03/23		500		478,348
3.60%, 02/23/16		1,425		1,501,530
5.00%, 01/15/21		600		658,696
BPCE SA
2.50%, 12/10/18		250		249,597
Branch Banking & Trust Co.
2.30%, 10/15/18 (Call 09/15/18)		250		252,353
Canadian Imperial Bank of Commerce
0.90%, 10/01/15		700		703,803
1.35%, 07/18/16		350		353,727
Comerica Bank
5.75%, 11/21/16		250		281,566
Commonwealth Bank of Australia
1.90%, 09/18/17		700		707,824
Credit Suisse New York
3.50%, 03/23/15		500		517,024
4.38%, 08/05/20^a		1,050		1,142,258
Fifth Third Bank
1.15%, 11/18/16 (Call 10/18/16)		500		501,174
HSBC Bank (USA) N.A.
4.88%, 08/24/20^a		1,400		1,517,534
HSBC Holdings PLC
4.00%, 03/30/22		500		520,556
5.10%, 04/05/21		675		755,806
6.50%, 05/02/36		950		1,129,400
6.50%, 09/15/37		900		1,075,484
HSBC USA Inc.
2.38%, 02/13/15		600		612,446
J.P. Morgan Chase Bank N.A.
6.00%, 10/01/17		1,400		1,605,987
KeyBank N.A.
1.65%, 02/01/18		250		246,794
Lloyds Bank PLC
4.20%, 03/28/17^a		750		813,876
Manufacturers and Traders Trust Co.
1.45%, 03/07/18 (Call 02/05/18)		250		245,726
Murray Street Investment Trust I
4.65%, 03/09/17^b		1,150		1,242,959
National Australia Bank Ltd.
1.60%, 08/07/15		25		25,430
2.75%, 03/09/17		700		730,098
3.00%, 01/20/23		500		475,396
National Bank of Canada
1.50%, 06/26/15		500		506,755
PNC Bank N.A.
2.70%, 11/01/22 (Call 10/01/22)^c		250		232,551
2.95%, 01/30/23 (Call 12/30/22)^c		400		376,101
4.20%, 11/01/25 (Call 10/02/25)^c		350		353,267
PNC Funding Corp.
2.70%, 09/19/16 (Call 08/19/16)^c		650		678,389
3.63%, 02/08/15^c		700		722,492
5.13%, 02/08/20^a,c		700		796,428


Security	Principal (000s)		Value

Rabobank Nederland
2.13%, 10/13/15	$	400	$	410,562
3.38%, 01/19/17		1,250		1,331,574
3.88%, 02/08/22		950		973,507
3.95%, 11/09/22		250		246,015
5.25%, 05/24/41		300		324,070
5.75%, 12/01/43		500		527,778
Royal Bank of Canada
0.80%, 10/30/15		600		602,479
0.85%, 03/08/16		500		501,437
1.15%, 03/13/15		500		504,667
2.20%, 07/27/18		750		758,502
2.30%, 07/20/16		250		258,454
Royal Bank of Scotland Group PLC
4.38%, 03/16/16		750		799,610
6.13%, 01/11/21^a		500		583,027
Societe Generale
2.75%, 10/12/17		250		258,166
Sumitomo Mitsui Banking Corp.
1.45%, 07/19/16		250		252,661
1.50%, 01/18/18		500		492,678
1.80%, 07/18/17^a		700		706,308
2.45%, 01/10/19		500		505,700
3.00%, 01/18/23^a		250		239,184
Svenska Handelsbanken AB
1.63%, 03/21/18		500		494,842
2.88%, 04/04/17		350		365,065
3.13%, 07/12/16		500		525,473
Toronto-Dominion Bank (The)
1.40%, 04/30/18		500		491,146
2.38%, 10/19/16		775		803,231
2.63%, 09/10/18		500		515,133
U.S. Bancorp
1.65%, 05/15/17 (Call 04/15/17)		700		710,278
2.20%, 11/15/16 (Call 10/14/16)		150		155,146
2.95%, 07/15/22 (Call 06/15/22)		550		521,503
3.00%, 03/15/22 (Call 02/15/22)		500		492,249
UBS AG Stamford
4.88%, 08/04/20		700		784,320
5.88%, 12/20/17		900		1,034,049
Union Bank N.A.
2.13%, 06/16/17		350		355,643
2.63%, 09/26/18 (Call 08/26/18)		500		513,908
Wachovia Corp./Wells Fargo & Co.
5.50%, 08/01/35^a		350		364,717
5.63%, 10/15/16		850		953,159
5.75%, 06/15/17		700		800,397
Wells Fargo & Co.
1.50%, 07/01/15		1,925		1,953,181
1.50%, 01/16/18		500		498,373
2.10%, 05/08/17		500		512,244
2.15%, 01/15/19^a		1,500		1,503,148
3.00%, 01/22/21		500		503,482
3.50%, 03/08/22		975		984,721
3.68%, 06/15/16^b		475		506,090
4.60%, 04/01/21		500		548,923
5.61%, 01/15/44^d		1,422		1,492,484
5.63%, 12/11/17		250		287,001
Series M
3.45%, 02/13/23		925		887,545
Westpac Banking Corp.
0.95%, 01/12/16		500		502,782
1.13%, 09/25/15		1,250		1,262,573


Security	Principal (000s)		Value

2.00%, 08/14/17	$	700	$	711,237
2.25%, 01/17/19		350		351,554
3.00%, 08/04/15		50		51,905
4.88%, 11/19/19		425		475,876

				65,685,032
COMMERCIAL SERVICES & SUPPLIES — 0.36%
Catholic Health Initiatives
2.95%, 11/01/22		500		466,181
Unilever Capital Corp.
0.85%, 08/02/17		650		639,317
2.20%, 03/06/19		200		201,781
5.90%, 11/15/32		100		126,864

				1,434,143
COMMUNICATIONS EQUIPMENT — 0.79%
Cisco Systems Inc.
4.45%, 01/15/20		825		918,566
4.95%, 02/15/19		850		968,082
5.50%, 02/22/16		350		384,559
5.50%, 01/15/40		775		842,431

				3,113,638
COMPUTERS & PERIPHERALS — 1.09%
Apple Inc.
0.45%, 05/03/16		350		348,420
1.00%, 05/03/18^a		1,000		974,393
2.40%, 05/03/23^a		1,250		1,140,372
3.85%, 05/04/43		700		599,571
EMC Corp.
1.88%, 06/01/18		500		499,786
2.65%, 06/01/20^a		500		495,981
3.38%, 06/01/23 (Call 03/01/23)		250		246,775

				4,305,298
CONSUMER FINANCE — 3.75%
American Express Co.
2.65%, 12/02/22		143		134,680
4.05%, 12/03/42		337		301,428
7.00%, 03/19/18		600		720,141
American Express Credit Corp.
1.30%, 07/29/16		500		504,156
1.75%, 06/12/15		425		431,850
2.13%, 07/27/18^a		500		505,140
2.38%, 03/24/17^a		575		592,524
2.75%, 09/15/15		500		516,816
2.80%, 09/19/16		1,000		1,045,010
American Honda Finance Corp.
2.13%, 10/10/18		250		253,241
Boeing Capital Corp.
4.70%, 10/27/19		250		281,861
Caterpillar Financial Services Corp.
0.70%, 11/06/15		1,000		1,003,121
HSBC Finance Corp.
5.00%, 06/30/15		950		1,003,735
6.68%, 01/15/21		800		933,176
John Deere Capital Corp.
0.70%, 09/04/15		700		702,639
0.88%, 04/17/15		50		50,292


Security	Principal (000s)		Value

1.20%, 10/10/17	$	950	$	943,800
2.25%, 04/17/19		725		732,657
Toyota Motor Credit Corp.
0.88%, 07/17/15		850		855,106
1.00%, 02/17/15		500		503,846
1.75%, 05/22/17		1,100		1,119,854
2.00%, 09/15/16		250		257,360
2.00%, 10/24/18		300		301,821
2.63%, 01/10/23		750		709,497
3.30%, 01/12/22		350		356,673

				14,760,424
DIVERSIFIED CONSUMER SERVICES — 0.09%
Massachusetts Institute of Technology
5.60%, 07/01/11		250		302,168
Princeton University Series A
4.95%, 03/01/19		50		57,004

				359,172
DIVERSIFIED FINANCIAL SERVICES — 13.06%
Bank of America Corp.
1.25%, 01/11/16		200		200,914
3.30%, 01/11/23		1,000		953,725
3.70%, 09/01/15		2,000		2,084,219
4.50%, 04/01/15		450		470,035
5.00%, 05/13/21		100		109,443
5.70%, 01/24/22		250		284,127
5.75%, 12/01/17		500		569,203
5.88%, 02/07/42		900		1,018,954
6.40%, 08/28/17		1,800		2,079,877
6.50%, 08/01/16		950		1,070,828
6.50%, 07/15/18		75		87,625
6.88%, 04/25/18		350		416,012
7.63%, 06/01/19		1,250		1,547,848
Series 1
3.75%, 07/12/16		1,000		1,059,766
BP Capital Markets PLC
1.38%, 11/06/17^a		300		298,284
1.85%, 05/05/17		2,525		2,570,340
2.24%, 09/26/18		300		304,061
2.50%, 11/06/22^a		650		601,377
2.75%, 05/10/23		800		743,270
3.13%, 10/01/15		700		729,360
4.74%, 03/11/21		50		55,208
Citigroup Inc.
1.25%, 01/15/16		200		200,919
1.70%, 07/25/16		750		758,007
1.75%, 05/01/18		250		245,605
2.50%, 09/26/18		1,000		1,005,456
3.38%, 03/01/23		500		476,821
4.45%, 01/10/17		1,200		1,300,340
4.50%, 01/14/22		1,750		1,853,322
4.75%, 05/19/15		1,573		1,652,926
5.38%, 08/09/20		125		141,556
6.13%, 11/21/17		750		863,338
6.13%, 05/15/18^a		1,000		1,160,427
6.88%, 03/05/38		17		21,369
8.13%, 07/15/39		900		1,285,054
8.50%, 05/22/19		350		450,043


Security	Principal (000s)		Value

CME Group Inc.
3.00%, 09/15/22	$	350	$	339,143
Daimler Finance North America LLC
8.50%, 01/18/31		325		478,405
General Electric Capital Corp.
1.00%, 01/08/16		1,000		1,005,913
1.63%, 07/02/15		900		914,791
1.63%, 04/02/18		500		497,193
2.25%, 11/09/15		50		51,459
2.30%, 04/27/17		350		361,268
2.30%, 01/14/19		300		303,300
3.10%, 01/09/23		450		433,993
4.63%, 01/07/21		1,250		1,376,433
4.65%, 10/17/21		750		822,788
5.63%, 09/15/17		150		171,266
5.63%, 05/01/18		700		807,347
5.88%, 01/14/38		2,075		2,379,589
Series GMTN
6.38%, 11/15/67 (Call 11/15/17)^e		1,000		1,090,000
IntercontinentalExchange Group Inc.
2.50%, 10/15/18		250		254,622
4.00%, 10/15/23		250		256,712
J.P. Morgan Chase & Co.
1.10%, 10/15/15		500		501,586
1.13%, 02/26/16		250		250,577
1.80%, 01/25/18^a		250		248,901
2.00%, 08/15/17		600		607,565
2.35%, 01/28/19		500		499,880
3.15%, 07/05/16		1,350		1,411,407
3.20%, 01/25/23^a		650		622,076
3.25%, 09/23/22		1,350		1,301,666
3.40%, 06/24/15		800		829,841
3.88%, 02/01/24		500		499,048
4.35%, 08/15/21		175		185,159
5.40%, 01/06/42		1,000		1,075,029
5.60%, 07/15/41		50		55,222
6.00%, 01/15/18		600		690,707
6.30%, 04/23/19		700		827,490
6.40%, 05/15/38		425		514,668
National Rural Utilities Cooperative Finance Corp.
10.38%, 11/01/18		350		478,069
Series C
8.00%, 03/01/32		250		346,956
NYSE Euronext Inc.
2.00%, 10/05/17		250		251,486

				51,411,214
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.70%
AT&T Inc.
0.88%, 02/13/15		850		852,737
1.40%, 12/01/17		500		494,053
1.70%, 06/01/17		1,400		1,410,346
2.50%, 08/15/15		1,000		1,027,160
2.95%, 05/15/16		200		208,654
3.00%, 02/15/22^a		1,325		1,254,965
4.30%, 12/15/42 (Call 06/15/42)		617		534,964
4.35%, 06/15/45 (Call 12/15/44)		250		215,781
5.35%, 09/01/40		725		724,596
5.50%, 02/01/18		300		340,727
5.55%, 08/15/41		1,000		1,025,178
5.80%, 02/15/19		300		349,451
6.30%, 01/15/38		400		446,686
6.50%, 09/01/37		1,300		1,484,890


Security	Principal (000s)		Value

Nippon Telegraph & Telephone Corp.
1.40%, 07/18/17	$	275	$	273,781

				10,643,969
ELECTRIC UTILITIES — 2.97%
CenterPoint Energy Houston Electric LLC
3.55%, 08/01/42 (Call 02/01/42)		200		173,312
Commonwealth Edison Co.
5.80%, 03/15/18		600		695,313
Duke Energy Carolinas LLC
4.00%, 09/30/42 (Call 03/30/42)		1,175		1,103,614
5.30%, 02/15/40		75		85,102
7.00%, 11/15/18		700		857,789
Duke Energy Florida Inc.
6.40%, 06/15/38		150		191,295
Duke Energy Progress Inc.
2.80%, 05/15/22 (Call 02/15/22)		550		534,544
5.30%, 01/15/19		50		57,479
Florida Power & Light Co.
4.05%, 06/01/42 (Call 12/01/41)		650		619,036
5.69%, 03/01/40		150		178,176
Georgia Power Co.
4.25%, 12/01/19		250		272,397
4.30%, 03/15/42		650		612,182
Series 10-C
4.75%, 09/01/40		100		100,393
Kentucky Utilities Co.
3.25%, 11/01/20 (Call 08/01/20)		50		51,825
5.13%, 11/01/40 (Call 05/01/40)		250		274,989
Pacific Gas & Electric Co.
3.50%, 10/01/20 (Call 07/01/20)^a		550		568,051
5.40%, 01/15/40		150		164,368
5.80%, 03/01/37		150		171,390
6.05%, 03/01/34		900		1,060,203
PacifiCorp
6.00%, 01/15/39		500		609,733
Public Service Co. of Colorado
3.60%, 09/15/42 (Call 03/15/42)		275		240,448
South Carolina Electric & Gas Co.
4.35%, 02/01/42 (Call 08/01/41)^a		300		291,777
Southern California Edison Co.
3.88%, 06/01/21 (Call 03/01/21)		350		374,066
4.65%, 10/01/43 (Call 04/01/43)		500		520,095
5.50%, 03/15/40		350		402,632
Series 08-A
5.95%, 02/01/38		50		60,294
Virginia Electric and Power Co.
5.40%, 04/30/18		600		687,259
8.88%, 11/15/38		475		751,492

				11,709,254
ELECTRICAL EQUIPMENT — 0.28%
ABB Finance (USA) Inc.
1.63%, 05/08/17		350		350,477
2.88%, 05/08/22		25		24,221
4.38%, 05/08/42		250		240,616
Emerson Electric Co.
2.63%, 02/15/23 (Call 11/15/22)		500		478,798

				1,094,112


Security	Principal (000s)		Value

ENERGY EQUIPMENT & SERVICES — 0.94%
Baker Hughes Inc.
3.20%, 08/15/21 (Call 05/15/21)	$	350	$	353,000
5.13%, 09/15/40		400		440,287
Diamond Offshore Drilling Inc.
5.70%, 10/15/39		150		168,045
5.88%, 05/01/19		250		291,997
Halliburton Co.
1.00%, 08/01/16		300		301,171
3.25%, 11/15/21 (Call 08/15/21)		650		655,717
4.50%, 11/15/41 (Call 05/15/41)		350		345,985
4.75%, 08/01/43		200		204,048
7.45%, 09/15/39		175		243,807
National Oilwell Varco Inc.
2.60%, 12/01/22 (Call 09/01/22)		500		470,855
3.95%, 12/01/42 (Call 06/01/42)		250		227,015

				3,701,927
FOOD & STAPLES RETAILING — 2.55%
Costco Wholesale Corp.
0.65%, 12/07/15		500		501,453
1.70%, 12/15/19		500		488,049
5.50%, 03/15/17		250		280,861
Sysco Corp.
5.25%, 02/12/18		300		340,500
Wal-Mart Stores Inc.
1.50%, 10/25/15		1,200		1,215,842
2.55%, 04/11/23 (Call 01/11/23)^a		850		795,386
2.88%, 04/01/15		500		514,911
3.25%, 10/25/20		950		978,099
5.63%, 04/15/41		1,850		2,144,498
5.80%, 02/15/18^a		700		817,976
6.50%, 08/15/37		1,550		1,967,125

				10,044,700
FOOD PRODUCTS — 0.29%
Archer-Daniels-Midland Co.
4.02%, 04/16/43		150		135,466
4.48%, 03/01/21		250		269,819
5.45%, 03/15/18		300		342,731
5.77%, 03/01/41		325		376,402

				1,124,418
HEALTH CARE EQUIPMENT & SUPPLIES — 1.86%
Abbott Laboratories
5.30%, 05/27/40		650		749,136
Baxter International Inc.
1.85%, 01/15/17^a		500		506,756
2.40%, 08/15/22		550		512,715
3.20%, 06/15/23 (Call 03/15/23)		750		731,073
5.90%, 09/01/16		30		33,226
Becton, Dickinson and Co.
3.13%, 11/08/21		400		402,654
Covidien International Finance SA
1.35%, 05/29/15		500		504,539
2.95%, 06/15/23 (Call 03/15/23)		250		236,818
6.55%, 10/15/37		275		349,847
CR Bard Inc.
1.38%, 01/15/18		250		245,536


Security	Principal (000s)		Value

Medtronic Inc.
2.63%, 03/15/16	$	600	$	624,908
3.00%, 03/15/15		350		360,531
3.13%, 03/15/22 (Call 12/15/21)^a		500		496,685
4.00%, 04/01/43 (Call 10/01/42)		500		457,799
St. Jude Medical Inc.
2.50%, 01/15/16		350		359,715
3.25%, 04/15/23 (Call 01/15/23)		250		240,560
4.75%, 04/15/43 (Call 10/15/42)		150		150,139
Stryker Corp.
2.00%, 09/30/16		350		360,185

				7,322,822
HEALTH CARE PROVIDERS & SERVICES — 1.59%
Aetna Inc.
1.50%, 11/15/17 (Call 10/15/17)		500		496,309
2.75%, 11/15/22 (Call 08/15/22)		300		280,965
4.50%, 05/15/42 (Call 11/15/41)		525		510,743
6.00%, 06/15/16		400		446,144
Howard Hughes Medical Institute
3.50%, 09/01/23		500		505,348
Kaiser Foundation Hospitals
4.88%, 04/01/42		250		251,952
McKesson Corp.
0.95%, 12/04/15		250		250,492
3.25%, 03/01/16		300		313,615
4.75%, 03/01/21 (Call 12/01/20)		250		272,208
UnitedHealth Group Inc.
1.40%, 10/15/17		500		497,632
2.75%, 02/15/23 (Call 11/15/22)		250		235,798
2.88%, 03/15/22 (Call 12/15/21)		700		681,960
2.88%, 03/15/23		250		238,106
4.25%, 03/15/43 (Call 09/15/42)^a		600		567,972
6.00%, 02/15/18		50		58,049
6.88%, 02/15/38		500		655,315

				6,262,608
HOTELS, RESTAURANTS & LEISURE — 0.44%
McDonald’s Corp.
0.75%, 05/29/15		350		351,565
2.63%, 01/15/22		350		342,030
3.70%, 02/15/42		600		537,735
5.35%, 03/01/18		75		86,025
Starbucks Corp.
3.85%, 10/01/23 (Call 07/01/23)		400		409,586

				1,726,941
HOUSEHOLD PRODUCTS — 0.94%
Colgate-Palmolive Co.
1.95%, 02/01/23		350		315,558
Kimberly-Clark Corp.
6.63%, 08/01/37		25		32,554
7.50%, 11/01/18		350		437,971
Procter & Gamble Co. (The)
1.45%, 08/15/16		1,410		1,436,494
3.50%, 02/15/15		250		258,393
5.55%, 03/05/37		810		955,483
Series FIX
0.75%, 11/04/16		250		249,714

				3,686,167


Security	Principal (000s)		Value

INDUSTRIAL CONGLOMERATES — 0.92%
3M Co.
1.38%, 09/29/16	$	250	$	253,963
2.00%, 06/26/22		575		537,956
Danaher Corp.
3.90%, 06/23/21 (Call 03/23/21)		350		370,861
General Electric Co.
0.85%, 10/09/15		500		502,417
2.70%, 10/09/22		300		285,657
4.13%, 10/09/42		200		186,337
5.25%, 12/06/17		500		569,189
Koninklijke Philips NV
3.75%, 03/15/22		550		565,196
5.00%, 03/15/42		100		102,073
6.88%, 03/11/38		200		252,396

				3,626,045
INSURANCE — 2.86%
ACE INA Holdings Inc.
2.60%, 11/23/15		700		723,737
AEGON Funding Co. LLC
5.75%, 12/15/20^a		250		289,287
Aflac Inc.
2.65%, 02/15/17^a		600		625,302
Allstate Corp. (The)
3.15%, 06/15/23		250		241,729
4.50%, 06/15/43		250		247,031
Berkshire Hathaway Finance Corp.
0.95%, 08/15/16		350		351,652
1.30%, 05/15/18^a		500		492,062
1.60%, 05/15/17		600		608,067
3.00%, 05/15/22		450		444,511
3.20%, 02/11/15		775		797,949
4.40%, 05/15/42		150		140,238
5.75%, 01/15/40		50		56,814
Berkshire Hathaway Inc.
1.90%, 01/31/17		50		51,278
3.00%, 02/11/23		500		483,876
4.50%, 02/11/43		500		474,858
Chubb Corp. (The)
5.75%, 05/15/18		300		346,207
6.38%, 03/29/67 (Call 04/15/17)^e		550		602,250
Loews Corp.
2.63%, 05/15/23 (Call 02/15/23)		250		228,693
4.13%, 05/15/43 (Call 11/15/42)		100		87,677
MetLife Inc.
1.76%, 12/15/17		500		501,453
3.05%, 12/15/22		250		239,156
4.13%, 08/13/42		610		544,319
4.88%, 11/13/43		250		252,002
6.75%, 06/01/16		150		169,721
7.72%, 02/15/19^a		750		940,822
Series D
4.37%, 09/15/23		500		520,755
Travelers Companies Inc. (The)
5.35%, 11/01/40		550		610,925


Security	Principal (000s)		Value

Travelers Property Casualty Corp.
6.38%, 03/15/33	$	150	$	184,843

				11,257,214
INTERNET SOFTWARE & SERVICES — 0.49%
Baidu Inc.
3.50%, 11/28/22		500		458,125
eBay Inc.
1.35%, 07/15/17		350		348,451
2.60%, 07/15/22 (Call 04/15/22)^a		425		395,782
4.00%, 07/15/42 (Call 01/15/42)		100		84,588
Google Inc.
2.13%, 05/19/16		600		620,560
3.63%, 05/19/21		25		26,577

				1,934,083
IT SERVICES — 1.34%
International Business Machines Corp.
0.45%, 05/06/16		250		249,147
0.55%, 02/06/15		100		100,241
0.75%, 05/11/15		2,100		2,110,377
1.25%, 02/08/18		500		494,078
1.63%, 05/15/20		500		473,415
1.88%, 08/01/22		350		312,133
4.00%, 06/20/42		860		785,816
7.63%, 10/15/18		600		751,894

				5,277,101
MACHINERY — 1.01%
Caterpillar Inc.
1.50%, 06/26/17^a		700		705,067
3.80%, 08/15/42		350		306,741
3.90%, 05/27/21		700		742,625
5.20%, 05/27/41		200		216,137
7.90%, 12/15/18		250		315,816
Cummins Inc.
3.65%, 10/01/23 (Call 07/01/23)		300		304,108
Deere & Co.
2.60%, 06/08/22 (Call 03/08/22)		400		382,576
3.90%, 06/09/42 (Call 12/09/41)		500		456,402
Illinois Tool Works Inc.
3.90%, 09/01/42 (Call 03/01/42)		475		427,736
6.25%, 04/01/19		100		117,933

				3,975,141
MEDIA — 2.88%
Comcast Corp.
2.85%, 01/15/23^a		750		709,016
4.25%, 01/15/33		1,500		1,429,724
4.50%, 01/15/43		1,000		939,381
4.65%, 07/15/42		1,100		1,050,923
5.70%, 05/15/18		250		289,110
5.85%, 11/15/15		1,350		1,471,541
6.50%, 01/15/17		1,275		1,467,748
6.95%, 08/15/37		350		441,325
NBCUniversal Media LLC
2.88%, 01/15/23		750		708,234
5.15%, 04/30/20		500		567,965


Security	Principal (000s)		Value

Walt Disney Co. (The)
1.10%, 12/01/17	$	500	$	495,495
1.13%, 02/15/17		650		653,169
1.35%, 08/16/16		300		304,280
2.35%, 12/01/22^a		500		468,318
Series E
4.13%, 12/01/41		350		335,511

				11,331,740
METALS & MINING — 2.10%
BHP Billiton Finance (USA) Ltd.
1.00%, 02/24/15		950		956,937
1.63%, 02/24/17		950		963,493
2.88%, 02/24/22		275		267,960
4.13%, 02/24/42		300		273,098
5.00%, 09/30/43		750		769,508
6.50%, 04/01/19		350		422,062
Rio Tinto Finance (USA) Ltd.
1.88%, 11/02/15		200		203,797
6.50%, 07/15/18		400		473,452
7.13%, 07/15/28		250		321,725
Rio Tinto Finance (USA) PLC
1.13%, 03/20/15		100		100,533
1.38%, 06/17/16		750		756,025
1.63%, 08/21/17 (Call 07/21/17)^a		1,000		1,000,782
2.88%, 08/21/22 (Call 05/21/22)^a		790		742,115
3.50%, 03/22/22 (Call 12/22/21)		375		369,029
4.13%, 08/21/42 (Call 02/21/42)^a		725		639,742

				8,260,258
MULTI-UTILITIES — 0.40%
Consolidated Edison Co. of New York Inc.
3.95%, 03/01/43 (Call 09/01/42)		250		230,725
7.13%, 12/01/18		250		307,765
Series 08-B
6.75%, 04/01/38		350		458,831
Consumers Energy Co.
6.70%, 09/15/19		250		306,287
San Diego Gas & Electric Co.
4.50%, 08/15/40		250		256,918

				1,560,526
MULTILINE RETAIL — 0.74%
Nordstrom Inc.
6.25%, 01/15/18^a		400		462,934
Target Corp.
2.90%, 01/15/22		700		683,993
4.00%, 07/01/42		775		687,756
5.38%, 05/01/17		500		567,159
6.00%, 01/15/18		100		116,444
7.00%, 01/15/38		300		384,543

				2,902,829
OIL, GAS & CONSUMABLE FUELS — 5.87%
Apache Corp.
3.25%, 04/15/22 (Call 01/15/22)		400		400,050
4.25%, 01/15/44 (Call 07/15/43)		500		458,493
4.75%, 04/15/43 (Call 10/15/42)		735		726,522
5.63%, 01/15/17		500		559,994


Security	Principal (000s)		Value

Chevron Corp.
0.89%, 06/24/16	$	250	$	251,169
1.72%, 06/24/18 (Call 05/24/18)		1,000		1,005,520
2.36%, 12/05/22 (Call 09/05/22)		500		465,167
3.19%, 06/24/23 (Call 03/24/23)		250		246,453
4.95%, 03/03/19		675		772,811
Conoco Funding Co.
7.25%, 10/15/31		400		534,790
ConocoPhillips
5.75%, 02/01/19		325		381,953
6.50%, 02/01/39		1,200		1,563,721
6.95%, 04/15/29		350		458,816
ConocoPhillips Canada Funding Co. I
5.63%, 10/15/16		950		1,073,469
EOG Resources Inc.
2.63%, 03/15/23 (Call 12/15/22)		350		328,395
2.95%, 06/01/15		600		619,411
5.63%, 06/01/19		50		58,012
Occidental Petroleum Corp.
1.50%, 02/15/18 (Call 01/15/18)^a		540		536,950
2.70%, 02/15/23 (Call 11/15/22)		1,000		940,085
Shell International Finance BV
0.63%, 12/04/15		500		500,943
0.90%, 11/15/16		500		500,109
1.13%, 08/21/17		1,700		1,690,174
2.38%, 08/21/22^a		490		456,516
3.10%, 06/28/15		150		155,548
4.55%, 08/12/43		500		505,398
5.50%, 03/25/40^a		300		345,643
6.38%, 12/15/38		675		853,302
Total Capital Canada Ltd.
2.75%, 07/15/23		500		470,873
Total Capital International SA
0.75%, 01/25/16		1,400		1,402,425
2.70%, 01/25/23^a		610		575,001
Total Capital SA
2.13%, 08/10/18		850		862,134
2.30%, 03/15/16		125		129,039
3.13%, 10/02/15		350		364,883
TransCanada PipeLines Ltd.
0.88%, 03/02/15		750		752,538
2.50%, 08/01/22		250		233,545
3.75%, 10/16/23^a		250		249,824
3.80%, 10/01/20		200		210,647
5.00%, 10/16/43 (Call 04/16/43)		250		257,247
6.10%, 06/01/40		700		826,524
7.63%, 01/15/39		275		377,090

				23,101,184
PHARMACEUTICALS — 5.85%
Allergan Inc.
3.38%, 09/15/20		20		20,696
AstraZeneca PLC
1.95%, 09/18/19		1,025		1,011,216
4.00%, 09/18/42		700		637,271
6.45%, 09/15/37		50		62,370
Bristol-Myers Squibb Co.
0.88%, 08/01/17		250		246,361
2.00%, 08/01/22		400		362,619
3.25%, 08/01/42		375		301,498
4.50%, 03/01/44 (Call 09/01/43)^a		350		346,940
Eli Lilly and Co.
5.20%, 03/15/17		500		561,728


Security	Principal (000s)		Value

5.55%, 03/15/37	$	150	$	170,759
GlaxoSmithKline Capital Inc.
0.70%, 03/18/16		500		499,873
2.80%, 03/18/23		300		285,328
5.65%, 05/15/18		125		145,026
6.38%, 05/15/38		900		1,131,582
GlaxoSmithKline Capital PLC
0.75%, 05/08/15		600		602,565
2.85%, 05/08/22^a		850		825,007
Johnson & Johnson
1.65%, 12/05/18		250		249,592
2.15%, 05/15/16		75		77,652
2.95%, 09/01/20		350		361,544
4.50%, 12/05/43 (Call 06/05/43)		250		259,402
5.55%, 08/15/17		500		569,874
5.95%, 08/15/37		525		651,217
Merck & Co. Inc.
1.10%, 01/31/18		1,000		987,028
2.25%, 01/15/16		500		513,134
2.40%, 09/15/22 (Call 06/15/22)		750		705,734
2.80%, 05/18/23		250		238,351
3.60%, 09/15/42 (Call 03/15/42)		900		780,298
4.00%, 06/30/15		350		367,176
4.15%, 05/18/43^a		500		473,699
6.55%, 09/15/37		25		32,132
Merck Sharp & Dohme Corp.
5.00%, 06/30/19		125		142,392
Novartis Capital Corp.
2.40%, 09/21/22		500		468,992
2.90%, 04/24/15		50		51,557
3.70%, 09/21/42		375		338,498
Novartis Securities Investment Ltd.
5.13%, 02/10/19		725		830,740
Pfizer Inc.
3.00%, 06/15/23		350		338,888
4.30%, 06/15/43		350		340,664
5.35%, 03/15/15		1,200		1,264,875
6.20%, 03/15/19		1,000		1,194,069
7.20%, 03/15/39		1,300		1,806,729
Sanofi
2.63%, 03/29/16		1,000		1,040,949
4.00%, 03/29/21		300		320,829
Teva Pharmaceutical Finance Co. BV
2.40%, 11/10/16		50		51,755
Teva Pharmaceutical Finance IV BV
3.65%, 11/10/21		900		892,257
Teva Pharmaceutical Finance IV LLC
2.25%, 03/18/20		500		477,642

				23,038,508
REAL ESTATE INVESTMENT TRUSTS (REITS) — 0.64%
Simon Property Group LP
2.15%, 09/15/17 (Call 06/15/17)^a		775		788,895
3.38%, 03/15/22 (Call 12/15/21)		850		846,329
4.75%, 03/15/42 (Call 09/15/41)^a		275		277,799
5.10%, 06/15/15		100		105,981
5.25%, 12/01/16 (Call 09/02/16)		350		385,123
5.65%, 02/01/20 (Call 11/01/19)		100		115,993

				2,520,120


Security	Principal (000s)		Value

ROAD & RAIL — 0.07%
Canadian National Railway Co.
5.55%, 03/01/19	$	250	$	291,570

				291,570
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.91%
Applied Materials Inc.
4.30%, 06/15/21		250		265,593
5.85%, 06/15/41		150		161,300
Intel Corp.
1.35%, 12/15/17		800		796,641
3.30%, 10/01/21		1,075		1,095,574
4.00%, 12/15/32		300		286,803
4.25%, 12/15/42		500		465,100
Texas Instruments Inc.
0.45%, 08/03/15		75		74,908
1.65%, 08/03/19		450		438,260

				3,584,179
SOFTWARE — 2.09%
Microsoft Corp.
0.88%, 11/15/17		500		491,222
1.63%, 09/25/15		300		305,379
2.13%, 11/15/22		250		229,581
2.38%, 05/01/23 (Call 02/01/23)^a		500		464,208
3.00%, 10/01/20^a		600		617,743
3.50%, 11/15/42		500		421,606
3.63%, 12/15/23 (Call 09/15/23)		300		305,543
4.88%, 12/15/43 (Call 06/15/43)		300		314,510
5.30%, 02/08/41		275		304,435
Oracle Corp.
1.20%, 10/15/17		800		792,754
2.38%, 01/15/19		600		608,713
2.50%, 10/15/22		1,100		1,026,853
3.63%, 07/15/23		500		505,467
5.00%, 07/08/19		50		57,011
5.25%, 01/15/16		550		599,285
5.38%, 07/15/40		1,075		1,188,779

				8,233,089
SPECIALTY RETAIL — 1.38%
Home Depot Inc. (The)
3.75%, 02/15/24 (Call 11/15/23)		600		606,488
4.20%, 04/01/43 (Call 10/01/42)		350		329,037
5.40%, 03/01/16		1,075		1,179,027
5.88%, 12/16/36		875		1,053,669
5.95%, 04/01/41 (Call 10/01/40)		250		300,503
Lowe’s Companies Inc.
1.63%, 04/15/17 (Call 03/15/17)		700		710,560
3.12%, 04/15/22 (Call 01/15/22)^a		300		295,752
3.80%, 11/15/21 (Call 08/15/21)		75		78,412
4.65%, 04/15/42 (Call 10/15/41)		550		552,219
6.65%, 09/15/37		250		317,258

				5,422,925


Security	Principal or Shares (000s)		Value

TEXTILES, APPAREL & LUXURY GOODS — 0.12%
NIKE Inc.
2.25%, 05/01/23 (Call 02/01/23)	$	500	$	462,669

				462,669
TOBACCO — 0.87%
Philip Morris International Inc.
1.13%, 08/21/17		1,375		1,363,734
2.50%, 08/22/22		675		625,060
3.60%, 11/15/23		500		494,361
3.88%, 08/21/42		750		656,088
4.13%, 03/04/43		200		181,458
5.65%, 05/16/18		100		115,538

				3,436,239
WIRELESS TELECOMMUNICATION SERVICES — 1.97%
America Movil SAB de CV
2.38%, 09/08/16^a		1,500		1,538,719
3.13%, 07/16/22^a		1,200		1,115,593
4.38%, 07/16/42^a		700		587,055
5.00%, 03/30/20		100		109,494
6.38%, 03/01/35		50		54,930
Cellco Partnership/Verizon Wireless Capital LLC
8.50%, 11/15/18^a		635		811,029
New Cingular Wireless Services Inc.
8.75%, 03/01/31		25		35,963
Vodafone Group PLC
2.50%, 09/26/22		600		546,331
4.38%, 02/19/43		750		665,604
5.00%, 09/15/15		350		374,161
5.45%, 06/10/19		75		86,292
5.63%, 02/27/17		1,250		1,406,976
6.15%, 02/27/37		375		419,087

				7,751,234

TOTAL CORPORATE BONDS & NOTES (Cost: $401,681,053)				389,647,830

SHORT-TERM INVESTMENTS — 4.59%

MONEY MARKET FUNDS — 4.59%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^c,f,g		16,219		16,219,455
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^c,f,g		1,395		1,394,618


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,f		448	$	447,990

				18,062,063

TOTAL SHORT-TERM INVESTMENTS (Cost: $18,062,063)				18,062,063


TOTAL INVESTMENTS IN SECURITIES — 103.58% (Cost: $419,743,116)				407,709,893
Other Assets, Less Liabilities — (3.58)%				(14,110,045	)

NET ASSETS — 100.00%			$	393,599,848

^a	All or a portion of this security represents a security on loan. See Note 1.

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

^c	Affiliated issuer. See Note 2.

^d	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^e	Variable rate security. Rate shown is as of report date.

^f	The rate quoted is the annualized seven-day yield of the fund at period end.

^g	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 98.02%

AEROSPACE & DEFENSE — 1.01%
B/E Aerospace Inc.
5.25%, 04/01/22 (Call 04/01/17)	$	25	$	25,188
Bombardier Inc.
5.75%, 03/15/22^a		50		49,250
L-3 Communications Corp.
4.95%, 02/15/21 (Call 11/15/20)		50		53,512
Northrop Grumman Corp.
3.25%, 08/01/23		25		23,877
5.05%, 08/01/19		50		55,900

				207,727
AIR FREIGHT & LOGISTICS — 0.11%
FedEx Corp.
4.10%, 04/15/43		25		22,180

				22,180
AIRLINES — 0.37%
United Airlines Inc.
6.75%, 09/15/15 (Call 03/03/14)^a		75		77,063

				77,063
AUTO COMPONENTS — 1.04%
Delphi Corp.
6.13%, 05/15/21 (Call 05/15/16)		50		55,125
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
6.00%, 08/01/20 (Call 02/01/17)^a		100		103,625
Johnson Controls Inc.
5.50%, 01/15/16		50		54,181

				212,931
AUTOMOBILES — 0.52%
Ford Motor Co.
4.75%, 01/15/43		25		23,102
7.45%, 07/16/31		25		31,390
General Motors Co.
4.88%, 10/02/23^a		25		25,313
6.25%, 10/02/43^a		25		26,437

				106,242
BEVERAGES — 0.39%
Constellation Brands Inc.
6.00%, 05/01/22		50		54,500
Molson Coors Brewing Co.
3.50%, 05/01/22		25		24,967

				79,467
BIOTECHNOLOGY — 2.03%
Amgen Inc.
2.50%, 11/15/16		75		77,998


Security	Principal (000s)		Value

3.88%, 11/15/21 (Call 08/15/21)	$	100	$	104,229
5.15%, 11/15/41 (Call 05/15/41)		100		103,066
Celgene Corp.
1.90%, 08/15/17		50		50,494
Gilead Sciences Inc.
3.05%, 12/01/16		25		26,455
4.40%, 12/01/21 (Call 09/01/21)		25		27,062
5.65%, 12/01/41 (Call 06/01/41)		25		28,957

				418,261
BUILDING PRODUCTS — 0.52%
Masco Corp.
7.13%, 03/15/20		50		56,875
Owens Corning Inc.
4.20%, 12/15/22 (Call 09/15/22)		50		48,989

				105,864
CAPITAL MARKETS — 1.92%
Goldman Sachs Group Inc. (The)
5.63%, 01/15/17		25		27,602
6.45%, 05/01/36		50		53,225
6.75%, 10/01/37		50		55,559
Jefferies Group LLC
5.13%, 04/13/18		45		48,773
5.13%, 01/20/23		25		25,829
Morgan Stanley
4.10%, 05/22/23		50		48,497
4.88%, 11/01/22		25		25,820
Nomura Holdings Inc.
2.00%, 09/13/16		50		50,495
6.70%, 03/04/20		50		58,602

				394,402
CHEMICALS — 2.78%
Agrium Inc.
3.50%, 06/01/23 (Call 03/01/23)		50		47,698
Ashland Inc.
4.75%, 08/15/22 (Call 05/15/22)		50		47,875
CF Holdings Industries Inc.
3.45%, 06/01/23		75		69,929
Dow Chemical Co. (The)
4.38%, 11/15/42 (Call 05/15/42)		25		22,580
7.38%, 11/01/29		75		96,475
8.55%, 05/15/19		75		96,548
Ecolab Inc.
3.00%, 12/08/16		25		26,286
4.35%, 12/08/21		50		53,361
LyondellBasell Industries NV
5.00%, 04/15/19 (Call 01/15/19)		100		111,263

				572,015
COMMERCIAL BANKS — 4.17%
CIT Group Inc.
4.25%, 08/15/17		75		77,812
5.50%, 02/15/19^a		100		106,500
Credit Suisse New York
5.40%, 01/14/20		25		28,343
Dresdner Bank AG
7.25%, 09/15/15		50		53,569


Security	Principal (000s)		Value

Fifth Third Bancorp
3.50%, 03/15/22 (Call 02/15/22)	$	75	$	74,903
HBOS PLC
6.00%, 11/01/33^a		25		25,140
KeyCorp
3.75%, 08/13/15		50		52,156
National City Corp.
6.88%, 05/15/19		50		59,989
Regions Financial Corp.
2.00%, 05/15/18 (Call 04/15/18)		50		48,819
Royal Bank of Scotland Group PLC
6.00%, 12/19/23		25		25,189
6.13%, 12/15/22		50		51,473
7.65%, 12/31/49 (Call 09/30/31)^b		25		26,406
Santander Holdings USA Inc.
3.00%, 09/24/15 (Call 08/24/15)		50		51,224
SMFG Preferred Capital USD 3 Ltd.
9.50%, 12/31/49 (Call 07/25/18)^a,b		100		124,500
SunTrust Banks Inc.
3.60%, 04/15/16 (Call 03/15/16)		50		52,656

				858,679
COMMERCIAL SERVICES & SUPPLIES — 1.26%
ADT Corp. (The)
3.50%, 07/15/22		25		21,557
4.88%, 07/15/42		25		19,072
Clean Harbors Inc.
5.25%, 08/01/20 (Call 08/01/16)		35		35,700
Republic Services Inc.
5.25%, 11/15/21		75		83,508
Waste Management Inc.
2.60%, 09/01/16		50		51,824
2.90%, 09/15/22 (Call 06/15/22)		50		47,147

				258,808
COMMUNICATIONS EQUIPMENT — 0.12%
Motorola Solutions Inc.
3.50%, 03/01/23		25		23,656

				23,656
COMPUTERS & PERIPHERALS — 1.36%
Hewlett-Packard Co.
2.13%, 09/13/15		100		101,974
3.75%, 12/01/20		50		50,343
4.65%, 12/09/21^c		100		103,943
Seagate HDD Cayman
4.75%, 06/01/23^a		25		24,000

				280,260
CONSTRUCTION MATERIALS — 0.54%
CRH America Inc.
6.00%, 09/30/16		25		27,918
Lafarge SA
6.50%, 07/15/16		75		82,500

				110,418


Security	Principal (000s)		Value

CONSUMER FINANCE — 5.54%
Ally Financial Inc.
5.50%, 02/15/17	$	75	$	80,906
8.00%, 03/15/20		50		59,625
8.00%, 11/01/31		50		60,125
American Express Co.
6.80%, 09/01/66 (Call 09/01/16)^b		25		26,875
Capital One Financial Corp.
2.15%, 03/23/15		100		101,636
4.75%, 07/15/21		50		54,178
Discover Financial Services
3.85%, 11/21/22		50		48,298
Ford Motor Credit Co. LLC
5.00%, 05/15/18		200		221,625
6.63%, 08/15/17		100		115,718
12.00%, 05/15/15		100		114,172
General Motors Financial Co. Inc.
3.25%, 05/15/18^a		50		50,375
SLM Corp.
5.50%, 01/25/23		35		32,879
8.45%, 06/15/18		150		173,813

				1,140,225
CONTAINERS & PACKAGING — 0.35%
Ball Corp.
5.00%, 03/15/22		25		24,844
Crown Americas LLC/Capital Corp. IV
4.50%, 01/15/23		50		47,375

				72,219
DIVERSIFIED FINANCIAL SERVICES — 3.10%
Bank of America Corp.
5.75%, 08/15/16		25		27,563
6.05%, 05/16/16		100		109,943
6.11%, 01/29/37		100		108,958
Citigroup Inc.
5.50%, 02/15/17		25		27,738
5.88%, 02/22/33		100		105,317
Deutsche Telekom International Finance BV
5.75%, 03/23/16		100		109,800
8.75%, 06/15/30		50		70,622
Goldman Sachs Capital I
6.35%, 02/15/34		50		51,000
ING U.S. Inc.
5.50%, 07/15/22		25		27,728

				638,669
DIVERSIFIED TELECOMMUNICATION SERVICES — 8.30%
British Telecommunications PLC
5.95%, 01/15/18		100		115,217
9.63%, 12/15/30		25		37,794
CCO Holdings LLC/CCO Holdings Capital Corp.
5.75%, 01/15/24 (Call 07/15/18)		50		48,625
6.50%, 04/30/21 (Call 04/30/15)		75		78,375
7.00%, 01/15/19 (Call 03/03/14)^c		50		52,750
CenturyLink Inc.
5.80%, 03/15/22		50		49,250
7.65%, 03/15/42		50		44,625
Series V
5.63%, 04/01/20		50		50,500
Frontier Communications Corp.
7.13%, 01/15/23		50		49,375
8.25%, 04/15/17		50		57,812


Security	Principal (000s)		Value

Orange
2.13%, 09/16/15	$	25	$	25,447
5.38%, 07/08/19		25		28,084
8.75%, 03/01/31		50		71,750
Telecom Italia Capital SA
5.25%, 10/01/15		50		52,563
7.18%, 06/18/19		50		56,500
7.72%, 06/04/38		50		51,500
Telefonica Emisiones SAU
5.46%, 02/16/21		100		108,014
6.42%, 06/20/16		75		83,595
Telefonica Europe BV
8.25%, 09/15/30		25		30,943
Verizon Communications Inc.
2.50%, 09/15/16		100		103,524
3.65%, 09/14/18		100		106,357
5.15%, 09/15/23		100		108,622
6.40%, 09/15/33		100		117,180
6.55%, 09/15/43		150		180,067

				1,708,469
ELECTRIC UTILITIES — 2.00%
American Electric Power Co. Inc.
1.65%, 12/15/17 (Call 11/15/17)		50		48,835
EDP Finance BV
4.90%, 10/01/19^a		100		103,000
FirstEnergy Corp. Series C
7.38%, 11/15/31		25		28,503
MidAmerican Energy Holdings Co.
6.13%, 04/01/36		60		70,829
Nisource Finance Corp.
5.25%, 02/15/43 (Call 08/15/42)		25		25,471
6.40%, 03/15/18		50		58,306
Progress Energy Inc.
4.40%, 01/15/21 (Call 10/15/20)		50		53,852
6.00%, 12/01/39		20		23,518

				412,314
ELECTRICAL EQUIPMENT — 0.47%
Eaton Corp.
2.75%, 11/02/22		25		23,745
Eaton Corp. PLC
4.15%, 11/02/42		25		23,314
Tyco Electronics Group SA
3.50%, 02/03/22 (Call 11/03/21)		50		48,979

				96,038
ENERGY EQUIPMENT & SERVICES — 1.36%
Ensco PLC
4.70%, 03/15/21		50		53,692
Transocean Inc.
6.38%, 12/15/21		75		83,662
6.80%, 03/15/38		25		27,518
Weatherford International Ltd.
5.95%, 04/15/42 (Call 10/17/41)		50		50,859
9.63%, 03/01/19		50		64,727

				280,458


Security	Principal (000s)		Value

FOOD & STAPLES RETAILING — 1.58%
CVS Caremark Corp.
2.25%, 12/05/18 (Call 11/05/18)	$	25	$	25,152
4.00%, 12/05/23 (Call 09/05/23)		25		25,605
5.75%, 06/01/17		25		28,405
5.75%, 05/15/41 (Call 11/15/40)		50		56,838
Delhaize Brothers and Co. “The Lion” (Delhaize Group)
5.70%, 10/01/40		25		24,816
Kroger Co. (The)
6.15%, 01/15/20		50		59,355
Safeway Inc.
6.35%, 08/15/17		50		56,513
Walgreen Co.
3.10%, 09/15/22		50		48,094

				324,778
FOOD PRODUCTS — 3.85%
Bunge Ltd. Finance Corp.
4.10%, 03/15/16		50		52,908
ConAgra Foods Inc.
1.90%, 01/25/18		35		34,860
3.20%, 01/25/23 (Call 10/25/22)		35		33,188
General Mills Inc.
4.15%, 02/15/43 (Call 08/15/42)		25		23,118
5.65%, 02/15/19		50		57,939
H.J. Heinz Finance Co.
7.13%, 08/01/39^a		25		25,750
Hawk Acquisition Sub Inc.
4.25%, 10/15/20 (Call 04/15/15)^a		25		24,437
JBS USA LLC/JBS USA Finance Inc.
8.25%, 02/01/20 (Call 02/01/15)^a		25		27,094
Kellogg Co.
3.13%, 05/17/22		50		48,736
4.00%, 12/15/20		50		53,226
Kraft Foods Group Inc.
3.50%, 06/06/22		100		100,010
5.00%, 06/04/42		50		50,962
Mondelez International Inc.
5.38%, 02/10/20		50		56,692
6.50%, 08/11/17		100		116,435
6.50%, 02/09/40		50		61,493
Tyson Foods Inc.
4.50%, 06/15/22 (Call 03/15/22)		25		26,004

				792,852
GAS UTILITIES — 0.33%
AGL Capital Corp.
5.88%, 03/15/41 (Call 09/15/40)		25		29,040
AmeriGas Finance LLC/AmeriGas Finance Corp.
7.00%, 05/20/22 (Call 05/20/17)		35		38,063

				67,103
HEALTH CARE PROVIDERS & SERVICES — 3.47%
Cardinal Health Inc.
3.20%, 03/15/23		25		23,874
Cigna Corp.
4.00%, 02/15/22 (Call 11/15/21)^c		25		25,953
Express Scripts Holding Co.
2.65%, 02/15/17		125		129,512
3.13%, 05/15/16		75		78,402
6.13%, 11/15/41		25		29,098


Security	Principal (000s)		Value

Fresenius Medical Care US Finance II Inc.
5.63%, 07/31/19^a	$	50	$	53,125
HCA Holdings Inc.
4.75%, 05/01/23		50		48,937
6.50%, 02/15/20		75		82,687
Laboratory Corp. of America Holdings
2.20%, 08/23/17		25		25,075
Quest Diagnostics Inc.
4.70%, 04/01/21		25		26,210
Tenet Healthcare Corp.
4.38%, 10/01/21		50		47,938
WellPoint Inc.
3.13%, 05/15/22		50		47,969
3.30%, 01/15/23		75		71,800
4.65%, 01/15/43		25		23,876

				714,456
HOTELS, RESTAURANTS & LEISURE — 0.39%
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.38%, 03/15/22 (Call 03/15/17)		25		25,438
7.75%, 08/15/20 (Call 08/15/15)		50		55,625

				81,063
HOUSEHOLD PRODUCTS — 0.12%
Clorox Co. (The)
3.05%, 09/15/22 (Call 06/15/22)		25		23,866

				23,866
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 1.90%
AES Corp. (The)
4.88%, 05/15/23 (Call 05/15/18)		50		46,812
8.00%, 10/15/17		75		87,375
Calpine Corp.
7.50%, 02/15/21 (Call 11/01/15)^a		44		48,070
7.88%, 07/31/20 (Call 07/31/15)^a		40		43,800
Exelon Generation Co. LLC
5.60%, 06/15/42 (Call 12/15/41)		25		24,396
6.20%, 10/01/17		75		84,153
NRG Energy Inc.
7.63%, 01/15/18		50		56,250

				390,856
INSURANCE — 3.88%
Allstate Corp. (The)
5.75%, 08/15/53 (Call 08/15/23)^b		25		25,125
American International Group Inc.
3.80%, 03/22/17		75		80,197
4.88%, 06/01/22		50		54,484
8.18%, 05/15/68 (Call 05/15/38)^b		50		61,625
8.25%, 08/15/18		100		125,577
Aon PLC
5.00%, 09/30/20		25		27,863
AXA SA
8.60%, 12/15/30		25		31,063
Genworth Holdings Inc.
7.63%, 09/24/21^c		50		60,306


Security	Principal (000s)		Value

Lincoln National Corp.
6.15%, 04/07/36	$	25	$	29,108
Marsh & McLennan Companies Inc.
4.80%, 07/15/21 (Call 04/15/21)		25		27,025
MetLife Inc.
6.40%, 12/15/66 (Call 12/15/31)		25		25,875
Prudential Financial Inc.
5.38%, 06/21/20		25		28,529
5.88%, 09/15/42 (Call 09/15/22)^b		50		51,125
7.38%, 06/15/19		75		93,334
Series D
4.75%, 09/17/15		50		53,135
XL Group PLC
6.50%, 12/31/49 (Call 04/15/17)^b		25		24,500

				798,871
INTERNET & CATALOG RETAIL — 0.22%
Amazon.com Inc.
2.50%, 11/29/22 (Call 08/29/22)		50		45,806

				45,806
INTERNET SOFTWARE & SERVICES — 0.24%
Equinix Inc.
4.88%, 04/01/20 (Call 04/01/17)		50		50,250

				50,250
IT SERVICES — 0.47%
Audatex North America Inc.
6.00%, 06/15/21 (Call 06/15/17)^a		25		26,062
Fidelity National Information Services Inc.
3.50%, 04/15/23 (Call 01/15/23)		50		46,845
Fiserv Inc.
3.50%, 10/01/22 (Call 07/01/22)		25		24,148

				97,055
LIFE SCIENCES TOOLS & SERVICES — 0.76%
Agilent Technologies Inc.
5.00%, 07/15/20		75		81,970
Thermo Fisher Scientific Inc.
1.85%, 01/15/18^c		25		25,014
2.25%, 08/15/16		25		25,678
3.15%, 01/15/23 (Call 10/15/22)		25		23,871

				156,533
MACHINERY — 0.43%
Case New Holland Inc.
7.88%, 12/01/17		75		87,844

				87,844
MEDIA — 8.18%
21st Century Fox America Inc.
4.50%, 02/15/21		25		27,284
6.15%, 02/15/41		75		85,715
6.40%, 12/15/35		50		58,479
CBS Corp.
4.85%, 07/01/42 (Call 01/01/42)		25		23,624
7.88%, 07/30/30		25		32,107


Security	Principal (000s)		Value

CSC Holdings LLC
6.75%, 11/15/21	$	25	$	27,250
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
3.50%, 03/01/16		100		105,010
3.80%, 03/15/22		50		48,741
5.00%, 03/01/21		50		53,636
5.15%, 03/15/42		50		46,011
Discovery Communications LLC
4.88%, 04/01/43		25		23,953
5.05%, 06/01/20		50		55,308
DISH DBS Corp.
4.63%, 07/15/17		25		26,187
5.00%, 03/15/23		75		70,312
6.75%, 06/01/21		50		53,375
7.13%, 02/01/16		50		55,000
Gannett Co. Inc.
5.13%, 07/15/20 (Call 07/15/16)^a		25		25,031
Grupo Televisa SAB de CV CPO
6.63%, 01/15/40		25		27,379
Nielsen Finance LLC/Nielsen Finance Co.
7.75%, 10/15/18 (Call 10/15/14)		25		26,875
Omnicom Group Inc.
3.63%, 05/01/22		50		49,846
Time Warner Cable Inc.
4.00%, 09/01/21 (Call 06/01/21)^c		100		94,425
4.50%, 09/15/42 (Call 03/15/42)		125		95,414
8.25%, 04/01/19		100		117,939
Time Warner Inc.
3.40%, 06/15/22		50		49,574
4.88%, 03/15/20		25		27,743
7.63%, 04/15/31		75		98,010
7.70%, 05/01/32		75		99,115
Viacom Inc.
3.88%, 12/15/21		75		76,153
4.38%, 03/15/43		25		21,910
5.85%, 09/01/43 (Call 03/01/43)		25		27,169
6.25%, 04/30/16		25		27,932
WPP Finance 2010
4.75%, 11/21/21		25		26,558

				1,683,065
METALS & MINING — 6.13%
Alcoa Inc.
5.40%, 04/15/21 (Call 01/15/21)^c		75		77,911
ArcelorMittal SA
4.25%, 02/25/15		50		51,000
5.00%, 02/25/17		75		78,750
6.75%, 02/25/22		50		53,937
7.50%, 10/15/39		50		49,125
Barrick Gold Corp.
3.85%, 04/01/22		50		46,441
Barrick N.A. Finance LLC
5.75%, 05/01/43		50		46,193
Cliffs Natural Resources Inc.
4.88%, 04/01/21 (Call 01/01/21)^c		25		23,285
FMG Resources (August 2006) Pty Ltd.
8.25%, 11/01/19 (Call 11/01/15)^a		75		82,594
Freeport-McMoRan Copper & Gold Inc.
2.38%, 03/15/18		50		49,882
3.10%, 03/15/20		50		49,135
3.55%, 03/01/22 (Call 12/01/21)		50		47,632
5.45%, 03/15/43 (Call 09/15/42)		50		47,526


Security	Principal (000s)		Value

Newmont Mining Corp.
3.50%, 03/15/22 (Call 12/15/21)	$	50	$	43,914
4.88%, 03/15/42 (Call 09/15/41)		50		38,700
Nucor Corp.
4.00%, 08/01/23 (Call 05/01/23)		50		49,539
Southern Copper Corp.
6.75%, 04/16/40		50		48,364
Teck Resources Ltd.
3.00%, 03/01/19		50		50,743
5.20%, 03/01/42 (Call 09/01/41)		75		67,143
United States Steel Corp.
7.38%, 04/01/20		25		27,000
Vale Overseas Ltd.
4.38%, 01/11/22		75		72,250
6.25%, 01/23/17		75		83,406
6.88%, 11/21/36		75		76,747

				1,261,217
MULTI-UTILITIES — 0.65%
Dominion Resources Inc.
4.45%, 03/15/21		50		53,792
Sempra Energy
2.30%, 04/01/17		50		51,370
6.00%, 10/15/39		25		28,898

				134,060
MULTILINE RETAIL — 0.43%
Dollar General Corp.
3.25%, 04/15/23 (Call 01/15/23)		35		32,360
Macy’s Retail Holdings Inc.
5.90%, 12/01/16		50		56,210

				88,570
OFFICE ELECTRONICS — 0.66%
Xerox Corp.
4.25%, 02/15/15		75		77,742
6.35%, 05/15/18		50		58,034

				135,776
OIL, GAS & CONSUMABLE FUELS — 13.78%
Access Midstream Partners LP/ACMP Finance Corp.
4.88%, 05/15/23 (Call 12/15/17)		50		49,000
Anadarko Finance Co.
7.50%, 05/01/31		50		63,029
Anadarko Petroleum Corp.
5.95%, 09/15/16		50		55,751
6.45%, 09/15/36		25		29,150
Canadian Natural Resources Ltd.
5.70%, 05/15/17		50		56,521
Cenovus Energy Inc.
4.45%, 09/15/42 (Call 03/15/42)		25		22,941
5.70%, 10/15/19		50		57,580
Chesapeake Energy Corp.
5.75%, 03/15/23^c		50		52,062
6.63%, 08/15/20		50		55,750
Concho Resources Inc.
5.50%, 10/01/22 (Call 10/01/17)		50		51,000
Continental Resources Inc.
5.00%, 09/15/22 (Call 03/15/17)		35		36,050


Security	Principal (000s)		Value

Devon Energy Corp.
3.25%, 05/15/22 (Call 02/15/22)	$	50	$	48,516
4.75%, 05/15/42 (Call 11/15/41)		50		47,942
El Paso LLC
7.00%, 06/15/17		100		113,083
Enbridge Energy Partners LP
4.20%, 09/15/21 (Call 06/15/21)^c		50		51,379
Encana Corp.
3.90%, 11/15/21 (Call 08/15/21)		75		76,136
5.90%, 12/01/17		25		28,499
Energy Transfer Equity LP
7.50%, 10/15/20		25		28,156
Energy Transfer Partners LP
5.20%, 02/01/22 (Call 11/01/21)		25		26,695
6.50%, 02/01/42 (Call 08/01/41)		50		54,610
Enterprise Products Operating LLC
3.35%, 03/15/23 (Call 12/15/22)		50		48,435
4.85%, 08/15/42 (Call 02/15/42)		75		73,369
5.20%, 09/01/20		75		84,669
EQT Corp.
8.13%, 06/01/19		50		61,035
Hess Corp.
5.60%, 02/15/41		50		53,084
8.13%, 02/15/19		50		62,604
Husky Energy Inc.
7.25%, 12/15/19		50		61,255
Kinder Morgan Energy Partners LP
3.45%, 02/15/23 (Call 11/15/22)		50		46,958
5.95%, 02/15/18		50		57,135
6.38%, 03/01/41		50		55,265
6.95%, 01/15/38		25		29,481
Marathon Oil Corp.
5.90%, 03/15/18		75		86,468
Marathon Petroleum Corp.
5.13%, 03/01/21		50		55,162
MarkWest Energy Partners LP/MarkWest Energy Finance Corp.
5.50%, 02/15/23 (Call 08/15/17)		25		25,125
Newfield Exploration Co.
5.63%, 07/01/24		25		25,000
Noble Energy Inc.
6.00%, 03/01/41 (Call 09/01/40)		25		27,771
8.25%, 03/01/19		25		31,298
ONEOK Partners LP
6.13%, 02/01/41 (Call 08/01/40)		50		54,528
Peabody Energy Corp.
6.25%, 11/15/21		50		50,500
Petrohawk Energy Corp.
6.25%, 06/01/19 (Call 06/01/15)		50		54,625
Phillips 66
2.95%, 05/01/17		25		26,144
4.30%, 04/01/22		25		25,998
5.88%, 05/01/42		25		28,192
Plains All American Pipeline LP/PAA Finance Corp.
5.00%, 02/01/21 (Call 11/01/20)		25		27,765
5.15%, 06/01/42 (Call 12/01/41)		25		25,774
QEP Resources Inc.
5.25%, 05/01/23 (Call 02/01/23)		25		23,813
Range Resources Corp.
5.00%, 03/15/23 (Call 03/15/18)		50		49,437
Regency Energy Partners LP/Regency Energy Finance Corp.
5.50%, 04/15/23 (Call 10/15/17)		35		34,125
Rockies Express Pipeline LLC
5.63%, 04/15/20^a		50		44,875


Security	Principal (000s)		Value

Sabine Pass Liquefaction LLC
5.63%, 04/15/23^a	$	50	$	47,500
SESI LLC
6.38%, 05/01/19 (Call 05/01/15)		25		26,562
Southwestern Energy Co.
4.10%, 03/15/22 (Call 12/15/21)		25		25,475
Spectra Energy Capital LLC
6.20%, 04/15/18		50		56,921
Suncor Energy Inc.
6.50%, 06/15/38		50		59,908
7.15%, 02/01/32		25		32,661
Talisman Energy Inc.
5.50%, 05/15/42 (Call 11/15/41)		25		24,390
Valero Energy Corp.
6.13%, 02/01/20		50		58,566
6.63%, 06/15/37		35		41,573
Williams Partners LP
3.35%, 08/15/22 (Call 05/15/22)		50		47,362
5.25%, 03/15/20		50		55,319
WPX Energy Inc.
6.00%, 01/15/22 (Call 10/15/21)		25		24,875

				2,834,852
PAPER & FOREST PRODUCTS — 0.58%
International Paper Co.
6.00%, 11/15/41 (Call 05/15/41)		50		56,477
7.95%, 06/15/18		50		61,814

				118,291
PERSONAL PRODUCTS — 0.16%
Avon Products Inc.
5.00%, 03/15/23^c		35		33,833

				33,833
PHARMACEUTICALS — 1.55%
AbbVie Inc.
1.20%, 11/06/15		50		50,532
1.75%, 11/06/17		50		50,232
2.90%, 11/06/22		75		71,637
4.40%, 11/06/42		25		23,999
Actavis Inc.
3.25%, 10/01/22 (Call 07/01/22)		50		47,387
Hospira Inc.
6.05%, 03/30/17		25		27,786
Zoetis Inc.
3.25%, 02/01/23 (Call 11/01/22)		50		47,817

				319,390
REAL ESTATE INVESTMENT TRUSTS (REITS) — 2.44%
American Tower Corp.
3.50%, 01/31/23		50		47,155
4.50%, 01/15/18		50		54,462
Boston Properties LP
3.70%, 11/15/18 (Call 08/15/18)		50		53,145
3.85%, 02/01/23 (Call 11/01/22)		50		50,119
ERP Operating LP
4.63%, 12/15/21 (Call 09/15/21)		50		53,500
HCP Inc.
3.75%, 02/01/16		50		52,399
4.25%, 11/15/23 (Call 08/15/23)		25		25,159


Security	Principal (000s)		Value

Health Care REIT Inc.
4.13%, 04/01/19 (Call 01/01/19)	$	50	$	53,295
Host Hotels & Resorts LP
5.88%, 06/15/19 (Call 06/15/15)		50		54,313
Ventas Realty LP/Ventas Capital Corp.
4.75%, 06/01/21 (Call 03/01/21)		25		26,545
Weyerhaeuser Co.
7.38%, 03/15/32		25		31,695

				501,787
ROAD & RAIL — 1.69%
Burlington Northern Santa Fe Corp.
3.00%, 03/15/23 (Call 12/15/22)		50		47,317
4.38%, 09/01/42 (Call 03/01/42)		25		23,343
4.40%, 03/15/42 (Call 09/15/41)		50		46,902
4.70%, 10/01/19		25		27,881
CSX Corp.
4.75%, 05/30/42 (Call 11/30/41)		50		49,512
Norfolk Southern Corp.
3.00%, 04/01/22 (Call 01/01/22)		50		48,555
4.84%, 10/01/41		50		50,174
Union Pacific Corp.
4.16%, 07/15/22 (Call 04/15/22)		50		52,903

				346,587
SOFTWARE — 0.13%
Activision Blizzard Inc.
6.13%, 09/15/23 (Call 09/15/18)^a		25		26,063

				26,063
SPECIALTY RETAIL — 0.83%
AutoZone Inc.
3.70%, 04/15/22 (Call 01/15/22)		25		24,827
Gap Inc. (The)
5.95%, 04/12/21 (Call 01/12/21)		50		55,965
L Brands Inc.
5.63%, 02/15/22		50		50,750
Sally Holdings LLC/Sally Capital Inc.
6.88%, 11/15/19 (Call 11/15/15)		35		38,500

				170,042
TOBACCO — 1.45%
Altria Group Inc.
2.85%, 08/09/22		75		70,177
5.38%, 01/31/44		25		25,600
9.70%, 11/10/18		50		66,278
10.20%, 02/06/39		17		27,379
Lorillard Tobacco Co.
3.50%, 08/04/16		50		52,754
Reynolds American Inc.
6.15%, 09/15/43		25		27,859
6.75%, 06/15/17		25		29,047

				299,094
TRADING COMPANIES & DISTRIBUTORS — 1.14%
International Lease Finance Corp.
4.63%, 04/15/21		50		47,875


Security	Principal or Shares (000s)		Value

4.88%, 04/01/15	$	50	$	51,750
5.88%, 04/01/19		20		21,500
8.75%, 03/15/17		75		87,375
United Rentals (North America) Inc.
5.75%, 07/15/18 (Call 07/15/15)		25		26,719

				235,219
WIRELESS TELECOMMUNICATION SERVICES — 1.32%
MetroPCS Wireless Inc.
6.63%, 11/15/20 (Call 11/15/15)		75		79,313
6.63%, 04/01/23 (Call 04/01/18)^a		25		25,938
Rogers Communications Inc.
3.00%, 03/15/23 (Call 12/15/22)		25		23,714
6.80%, 08/15/18		25		30,019
Sprint Communications Inc.
9.00%, 11/15/18^a		50		60,375
T-Mobile USA Inc.
6.46%, 04/28/19 (Call 04/28/15)		50		52,625

				271,984

TOTAL CORPORATE BONDS & NOTES (Cost: $20,254,300)				20,167,528

SHORT-TERM INVESTMENTS — 3.48%

MONEY MARKET FUNDS — 3.48%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^d,e,f		474		474,261
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^d,e,f		41		40,779
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^d,e		201		201,059

				716,099

TOTAL SHORT-TERM INVESTMENTS (Cost: $716,099)				716,099


TOTAL INVESTMENTS IN SECURITIES — 101.50% (Cost: $20,970,399)				20,883,627
Other Assets, Less Liabilities — (1.50)%				(308,902	)

NET ASSETS — 100.00%			$	20,574,725

CPO — Certificates of Participation (Ordinary)

^a	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^b	Variable rate security. Rate shown is as of report date.

^c	All or a portion of this security represents a security on loan. See Note 1.

^d	Affiliated issuer. See Note 2.

^e	The rate quoted is the annualized seven-day yield of the fund at period end.

^f	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 97.93%

AEROSPACE & DEFENSE — 0.76%
TransDigm Inc.
7.75%, 12/15/18 (Call 12/15/14)	$	75	$	80,250

				80,250
AIR FREIGHT & LOGISTICS — 0.75%
CEVA Group PLC
8.38%, 12/01/17 (Call 03/03/14)^a		75		78,281

				78,281
AIRLINES — 0.25%
US Airways Group Inc.
6.13%, 06/01/18		25		25,813

				25,813
AUTO COMPONENTS — 1.03%
American Axle & Manufacturing Inc.
6.63%, 10/15/22 (Call 10/15/17)^b		25		26,500
Goodyear Tire & Rubber Co. (The)
7.00%, 05/15/22 (Call 05/15/17)		75		81,563

				108,063
BUILDING PRODUCTS — 0.80%
Grifols Inc.
8.25%, 02/01/18 (Call 03/03/14)		25		26,688
Nortek Inc.
8.50%, 04/15/21 (Call 04/15/16)		25		27,625
USG Corp.
9.75%, 01/15/18		25		29,750

				84,063
CAPITAL MARKETS — 1.15%
E*TRADE Financial Corp.
6.38%, 11/15/19 (Call 11/15/15)		50		53,750
Nuveen Investments Inc.
9.50%, 10/15/20 (Call 10/15/16)^a		40		41,300
Walter Investment Management Corp.
7.88%, 12/15/21 (Call 12/15/16)^a		25		25,313

				120,363
CHEMICALS — 3.04%
Hexion U.S. Finance Corp./Hexion Nova Scotia Finance ULC
8.88%, 02/01/18 (Call 03/03/14)		50		52,000
Huntsman International LLC
8.63%, 03/15/21 (Call 09/15/15)		25		28,187
Ineos Finance PLC
7.50%, 05/01/20 (Call 05/01/15)^a		75		81,937
Momentive Performance Materials Inc.
8.88%, 10/15/20 (Call 10/15/15)		50		53,375


Security	Principal (000s)		Value

TPC Group Inc.
8.75%, 12/15/20 (Call 12/15/16)^a	$	25	$	26,875
Trinseo Materials Operating SCA/Trinseo Materials Finance Inc.
8.75%, 02/01/19 (Call 08/01/15)^a		50		51,125
Tronox Finance LLC
6.38%, 08/15/20 (Call 08/15/15)		25		25,313

				318,812
COMMERCIAL SERVICES & SUPPLIES — 2.34%
ADS Waste Holdings Inc.
8.25%, 10/01/20 (Call 10/01/16)		25		26,875
APX Group Inc.
8.75%, 12/01/20 (Call 12/01/15)^a,b		30		30,450
Ceridian Corp.
11.25%, 11/15/15 (Call 03/03/14)		50		50,250
Envision Healthcare Corp.
8.13%, 06/01/19 (Call 06/01/14)		33		35,475
Iron Mountain Inc.
5.75%, 08/15/24 (Call 08/15/17)		25		23,375
Tervita Corp.
8.00%, 11/15/18 (Call 11/15/15)^a		25		25,625
TransUnion LLC/TransUnion Financing Corp.
11.38%, 06/15/18 (Call 06/15/14)		25		27,094
West Corp.
7.88%, 01/15/19 (Call 11/15/14)		25		26,906

				246,050
COMMUNICATIONS EQUIPMENT — 1.92%
Alcatel-Lucent USA Inc.
6.45%, 03/15/29		50		45,000
Avaya Inc.
10.50%, 03/01/21 (Call 03/01/17)^a,b		50		46,250
CommScope Inc.
8.25%, 01/15/19 (Call 01/15/15)^a		55		59,743
Nokia OYJ
5.38%, 05/15/19		25		25,844
6.63%, 05/15/39		25		24,875

				201,712
COMPUTERS & PERIPHERALS — 0.48%
Dell Inc.
2.30%, 09/10/15		50		50,250

				50,250
CONSTRUCTION MATERIALS — 0.28%
Texas Industries Inc.
9.25%, 08/15/20 (Call 08/15/15)		25		29,000

				29,000
CONSUMER FINANCE — 1.04%
Springleaf Finance Corp.
6.90%, 12/15/17		100		109,250

				109,250
CONTAINERS & PACKAGING — 1.34%
Berry Plastics Corp.
9.75%, 01/15/21 (Call 01/15/16)		50		57,500
Sealed Air Corp.
8.13%, 09/15/19 (Call 09/15/15)^a		75		83,625

				141,125


Security	Principal (000s)		Value

DISTRIBUTORS — 1.34%
HD Supply Inc.
7.50%, 07/15/20 (Call 10/15/16)	$	25	$	26,687
8.13%, 04/15/19 (Call 04/15/15)		25		27,797
11.00%, 04/15/20 (Call 04/15/16)		50		59,375
VWR Funding Inc.
7.25%, 09/15/17 (Call 09/15/14)		25		26,625

				140,484
DIVERSIFIED CONSUMER SERVICES — 0.24%
ServiceMaster Co.
7.00%, 08/15/20 (Call 08/15/15)		25		25,313

				25,313
DIVERSIFIED FINANCIAL SERVICES — 0.25%
Alphabet Holding Co. Inc.
7.75%, 11/01/17 (Call 03/03/14)^c		25		25,750

				25,750
DIVERSIFIED TELECOMMUNICATION SERVICES — 8.26%
Cincinnati Bell Inc.
8.38%, 10/15/20 (Call 10/15/15)		50		53,938
Hughes Satellite Systems Corp.
7.63%, 06/15/21		51		57,885
Intelsat (Luxembourg) SA
8.13%, 06/01/23 (Call 06/01/18)^a		50		54,125
Intelsat Jackson Holdings SA
5.50%, 08/01/23 (Call 08/01/18)^a		50		47,750
7.25%, 10/15/20 (Call 10/15/15)		50		54,250
7.50%, 04/01/21 (Call 04/01/16)		125		137,656
Level 3 Financing Inc.
8.13%, 07/01/19 (Call 07/01/15)		75		82,312
9.38%, 04/01/19 (Call 04/01/15)		50		55,750
SBA Telecommunications Inc.
5.75%, 07/15/20 (Call 07/15/16)		25		26,000
Sprint Capital Corp.
6.88%, 11/15/28		100		95,500
Telesat Canada/Telesat LLC
6.00%, 05/15/17 (Call 05/15/14)^a		25		25,938
Wind Acquisition Holdings Finance SA
11.75%, 07/15/17 (Call 03/03/14)^a		100		105,500
Windstream Corp.
6.38%, 08/01/23 (Call 02/01/18)		75		69,750

				866,354
ELECTRIC UTILITIES — 1.96%
Energy Future Intermediate Holding Co. LLC/EFIH Finance Inc.
10.00%, 12/01/20 (Call 12/01/15)		125		132,187
Texas Competitive Electric Holdings Co. LLC/TCEH Finance Inc.
11.50%, 10/01/20 (Call 04/01/16)^a,b		100		73,750

				205,937


Security	Principal (000s)		Value

ELECTRICAL EQUIPMENT — 0.50%
General Cable Corp.
6.50%, 10/01/22 (Call 10/01/17)^a	$	25	$	24,750
Realogy Group LLC
7.63%, 01/15/20 (Call 01/15/16)^a		25		27,938

				52,688
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.25%
Sanmina Corp.
7.00%, 05/15/19 (Call 05/15/14)^a		25		26,563

				26,563
ENERGY EQUIPMENT & SERVICES — 1.45%
Gulfmark Offshore Inc.
6.38%, 03/15/22 (Call 03/15/17)		25		25,188
Key Energy Services Inc.
6.75%, 03/01/21 (Call 03/01/16)		25		25,687
Offshore Group Investments Ltd.
7.13%, 04/01/23 (Call 04/01/18)		25		25,000
7.50%, 11/01/19 (Call 11/01/15)		25		26,875
Pacific Drilling SA
5.38%, 06/01/20 (Call 06/01/16)^a		50		49,875

				152,625
FOOD & STAPLES RETAILING — 1.33%
Rite Aid Corp.
9.25%, 03/15/20 (Call 03/15/16)		50		57,062
SUPERVALU Inc.
8.00%, 05/01/16		50		55,125
US Foods Inc.
8.50%, 06/30/19 (Call 06/30/14)		25		27,125

				139,312
FOOD PRODUCTS — 1.85%
ARAMARK Corp.
5.75%, 03/15/20 (Call 03/15/15)^a		35		36,313
Del Monte Corp.
7.63%, 02/15/19 (Call 03/03/14)		50		51,937
Post Holdings Inc.
7.38%, 02/15/22 (Call 02/15/17)		50		53,187
Smithfield Foods Inc.
6.63%, 08/15/22 (Call 08/15/17)		50		52,625

				194,062
GAS UTILITIES — 1.06%
Sabine Pass LNG LP
7.50%, 11/30/16		100		111,500

				111,500
HEALTH CARE EQUIPMENT & SUPPLIES — 1.81%
Biomet Inc.
6.50%, 10/01/20 (Call 10/01/15)		75		77,812
Hologic Inc.
6.25%, 08/01/20 (Call 08/01/15)		25		26,094
Kinetic Concepts Inc./KCI USA Inc.
10.50%, 11/01/18 (Call 11/01/15)		50		57,500
12.50%, 11/01/19 (Call 11/01/15)		25		28,250

				189,656


Security	Principal (000s)		Value

HEALTH CARE PROVIDERS & SERVICES — 5.14%
CHS/Community Health Systems Inc.
7.13%, 07/15/20 (Call 07/15/16)	$	25	$	26,625
8.00%, 11/15/19 (Call 11/15/15)		75		82,312
DaVita HealthCare Partners Inc.
5.75%, 08/15/22 (Call 08/15/17)		25		25,594
6.38%, 11/01/18 (Call 03/03/14)		50		52,500
FWCT-2 Escrow Corp./Community Health Systems Inc.
6.88%, 02/01/22 (Call 02/01/18)^a		25		25,625
HCA Holdings Inc.
5.88%, 05/01/23		25		25,469
6.38%, 01/15/15		25		26,031
7.50%, 02/15/22		50		56,437
7.75%, 05/15/21 (Call 11/15/15)		100		109,750
IASIS Healthcare LLC
8.38%, 05/15/19 (Call 05/15/14)		25		26,688
Tenet Healthcare Corp.
8.00%, 08/01/20 (Call 08/01/15)		25		27,313
8.13%, 04/01/22		50		54,562

				538,906
HEALTH CARE TECHNOLOGY — 0.52%
Healthcare Technology Intermediate Inc.
7.38%, 09/01/18 (Call 09/01/14)^a,c		25		25,844
IMS Health Inc.
12.50%, 03/01/18 (Call 03/01/15)^a		25		29,125

				54,969
HOTELS, RESTAURANTS & LEISURE — 6.89%
Boyd Gaming Corp.
9.13%, 12/01/18 (Call 12/01/14)		25		27,063
Burger King Corp.
9.88%, 10/15/18 (Call 10/15/14)		25		27,500
Caesars Entertainment Operating Co. Inc.
8.50%, 02/15/20 (Call 02/15/16)		25		23,625
9.00%, 02/15/20 (Call 02/15/16)		50		48,438
10.00%, 12/15/18 (Call 03/03/14)		50		25,125
11.25%, 06/01/17 (Call 03/03/14)		50		50,875
12.75%, 04/15/18 (Call 04/15/14)		25		14,813
Caesars Entertainment Resort Properties LLC/Caesars Entertainment Resort Properties Finance Inc.
11.00%, 10/01/21 (Call 10/01/16)^a,b		75		77,437
Cedar Fair LP/Canada’s Wonderland Co.
5.25%, 03/15/21 (Call 03/15/16)^b		25		24,938
Felcor Lodging LP
5.63%, 03/01/23 (Call 03/01/18)		25		24,438
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp.
5.63%, 10/15/21 (Call 10/15/16)^a		50		51,750
Landry’s Inc.
9.38%, 05/01/20 (Call 05/01/15)^a		25		27,187
MGM Resorts International
5.25%, 03/31/20		25		25,000
6.63%, 07/15/15		50		53,375
6.63%, 12/15/21		25		26,625
8.63%, 02/01/19		75		88,312
Pinnacle Entertainment Inc.
7.50%, 04/15/21 (Call 04/15/15)		50		54,187


Security	Principal (000s)		Value

Sabre Inc.
8.50%, 05/15/19 (Call 05/15/15)^a	$	25	$	27,562
Six Flags Entertainment Corp.
5.25%, 01/15/21 (Call 01/15/16)^a		25		24,750

				723,000
HOUSEHOLD DURABLES — 1.27%
K. Hovnanian Enterprises Inc.
7.25%, 10/15/20 (Call 10/15/15)^a		50		54,125
Shea Homes LP/Shea Homes Funding Corp.
8.63%, 05/15/19 (Call 05/15/15)		50		55,000
Taylor Morrison Communities Inc./Monarch Communities Inc.
5.25%, 04/15/21 (Call 04/15/16)^a		25		24,312

				133,437
HOUSEHOLD PRODUCTS — 0.51%
Harbinger Group Inc.
7.88%, 07/15/19 (Call 01/15/16)^a		25		26,750
Spectrum Brands Inc.
6.63%, 11/15/22 (Call 11/15/17)		25		26,594

				53,344
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 2.23%
GenOn Energy Inc.
9.50%, 10/15/18^b		75		80,625
NRG Energy Inc.
6.25%, 07/15/22 (Call 07/15/18)^a		100		100,250
8.50%, 06/15/19 (Call 06/15/14)		50		53,125

				234,000
INDUSTRIAL CONGLOMERATES — 0.25%
Polymer Group Inc.
7.75%, 02/01/19 (Call 02/01/15)		25		26,500

				26,500
INTERNET SOFTWARE & SERVICES — 0.51%
CyrusOne LP/CyrusOne Finance Corp.
6.38%, 11/15/22 (Call 11/15/17)		25		25,813
Zayo Group LLC/Zayo Capital Inc.
8.13%, 01/01/20 (Call 07/01/15)		25		27,625

				53,438
IT SERVICES — 3.68%
First Data Corp.
6.75%, 11/01/20 (Call 11/01/15)^a		25		26,312
7.38%, 06/15/19 (Call 06/15/15)^a		75		80,062
11.75%, 08/15/21 (Call 05/15/16)^a		25		25,688
12.63%, 01/15/21 (Call 01/15/16)		150		174,750
SunGard Data Systems Inc.
6.63%, 11/01/19 (Call 11/01/15)		25		26,188
7.38%, 11/15/18 (Call 03/03/14)		50		53,000

				386,000
MACHINERY — 0.49%
Navistar International Corp.
8.25%, 11/01/21 (Call 11/01/14)^b		25		25,750
Terex Corp.
6.00%, 05/15/21 (Call 11/15/16)		25		25,938

				51,688


Security	Principal (000s)		Value

MEDIA — 8.53%
AMC Entertainment Inc.
9.75%, 12/01/20 (Call 12/01/15)	$	50	$	57,375
AMC Networks Inc.
4.75%, 12/15/22 (Call 12/15/17)		25		24,375
Cablevision Systems Corp.
8.63%, 09/15/17		75		87,375
Cequel Communications Holdings I LLC/Cequel Capital Corp.
5.13%, 12/15/21 (Call 06/15/16)^a		25		23,500
6.38%, 09/15/20 (Call 09/15/15)^a		25		25,563
Cinemark USA Inc.
4.88%, 06/01/23 (Call 06/01/18)		25		23,625
Clear Channel Communications Inc.
9.00%, 12/15/19 (Call 07/15/15)		25		25,500
9.00%, 03/01/21 (Call 03/01/16)		50		50,500
11.25%, 03/01/21 (Call 03/01/16)		25		27,125
Clear Channel Worldwide Holdings Inc.
6.50%, 11/15/22 (Call 11/15/17)		25		25,688
Series B
7.63%, 03/15/20 (Call 03/15/15)		100		105,500
Cumulus Media Holdings Inc.
7.75%, 05/01/19 (Call 05/01/15)^b		25		26,813
Lamar Media Corp.
5.00%, 05/01/23 (Call 05/01/18)		25		24,250
McClatchy Co. (The)
9.00%, 12/15/22 (Call 12/15/17)		25		27,750
McGraw-Hill Global Education Holdings LLC/McGraw-Hill Global Education Finance
9.75%, 04/01/21 (Call 04/01/16)^a		25		27,187
Quebecor Media Inc.
5.75%, 01/15/23		25		24,313
Sinclair Television Group Inc.
5.38%, 04/01/21 (Call 04/01/16)		25		24,750
Sirius XM Holdings Inc.
5.88%, 10/01/20 (Call 10/01/16)^a		50		50,562
Univision Communications Inc.
5.13%, 05/15/23 (Call 05/15/18)^a		25		24,875
6.75%, 09/15/22 (Call 09/15/17)^a		25		27,437
6.88%, 05/15/19 (Call 05/15/15)^a		75		80,437
Visant Corp.
10.00%, 10/01/17 (Call 03/03/14)		25		24,125
WideOpenWest Finance LLC/WideOpenWest Capital Corp.
10.25%, 07/15/19 (Call 07/15/15)		25		27,875
WMG Acquisition Corp.
11.50%, 10/01/18 (Call 10/01/14)		25		28,437

				894,937
METALS & MINING — 2.50%
AK Steel Corp.
7.63%, 05/15/20 (Call 05/15/15)^b		25		24,688
Aleris International Inc.
7.63%, 02/15/18 (Call 03/03/14)		25		26,312
HudBay Minerals Inc.
9.50%, 10/01/20 (Call 10/01/16)		25		26,250
IAMGOLD Corp.
6.75%, 10/01/20 (Call 10/01/16)^a		25		21,438
Inmet Mining Corp.
8.75%, 06/01/20 (Call 06/01/16)^a		50		56,875


Security	Principal (000s)		Value

JMC Steel Group Inc.
8.25%, 03/15/18 (Call 03/15/14)^a,b	$	25	$	25,875
Molycorp Inc.
10.00%, 06/01/20 (Call 06/01/16)		25		25,187
Novelis Inc.
8.75%, 12/15/20 (Call 12/15/15)		50		55,500

				262,125
MULTILINE RETAIL — 0.78%
Neiman Marcus Group Inc. (The)
8.00%, 10/15/21 (Call 10/15/16)^a		35		36,663
Sears Holdings Corp.
6.63%, 10/15/18^b		50		45,062

				81,725
OFFICE ELECTRONICS — 0.52%
CDW LLC/CDW Finance Corp.
8.50%, 04/01/19 (Call 04/01/15)		50		54,875

				54,875
OIL, GAS & CONSUMABLE FUELS — 12.66%
Alpha Natural Resources Inc.
6.00%, 06/01/19 (Call 06/01/14)		50		41,375
Antero Resources Finance Corp.
5.38%, 11/01/21 (Call 11/01/16)^a		50		50,375
Arch Coal Inc.
7.25%, 10/01/20 (Call 10/01/15)		75		57,562
Atlas Pipeline Partners LP/Atlas Pipeline Finance Corp.
5.88%, 08/01/23 (Call 02/01/18)		25		23,938
BreitBurn Energy Partners LP/BreitBurn Finance Corp.
7.88%, 04/15/22 (Call 01/15/17)		25		26,594
Chaparral Energy Inc.
7.63%, 11/15/22 (Call 05/15/17)		25		26,937
CONSOL Energy Inc.
8.00%, 04/01/17 (Call 04/01/14)		100		104,750
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
6.13%, 03/01/22 (Call 11/01/16)^a		25		25,500
Denbury Resources Inc.
4.63%, 07/15/23 (Call 01/15/18)		25		23,063
8.25%, 02/15/20 (Call 02/15/15)		25		27,375
Energy XXI Gulf Coast Inc.
9.25%, 12/15/17 (Call 12/15/14)		50		55,000
EP Energy LLC/EP Energy Finance Inc. Series WI
9.38%, 05/01/20 (Call 05/01/16)		100		115,000
EXCO Resources Inc.
7.50%, 09/15/18 (Call 09/15/14)		25		24,688
Forest Oil Corp.
7.25%, 06/15/19 (Call 03/03/14)^b		27		25,920
Halcon Resources Corp.
8.88%, 05/15/21 (Call 11/15/16)		50		49,875
Laredo Petroleum Inc.
7.38%, 05/01/22 (Call 05/01/17)		25		27,312
Linn Energy LLC/Linn Energy Finance Corp.
7.00%, 11/01/19 (Call 11/01/15)^a		125		126,875
Magnum Hunter Resources Corp.
9.75%, 05/15/20 (Call 05/15/16)		25		27,187
MEG Energy Corp.
6.50%, 03/15/21 (Call 03/15/15)^a		50		52,000


Security	Principal (000s)		Value

Midstates Petroleum Co. Inc./Midstates Petroleum Co. LLC
9.25%, 06/01/21 (Call 06/01/16)	$	25	$	26,000
NGPL PipeCo LLC
7.12%, 12/15/17^a,b		50		47,250
Oasis Petroleum Inc.
6.88%, 03/15/22 (Call 09/15/17)^a		50		53,000
Penn Virginia Corp.
8.50%, 05/01/20 (Call 05/01/17)		25		27,250
PetroBakken Energy Ltd.
8.63%, 02/01/20 (Call 02/01/16)^a		25		25,375
Rosetta Resources Inc.
5.63%, 05/01/21 (Call 05/01/17)		25		24,937
Samson Investment Co.
10.50%, 02/15/20 (Call 02/15/16)^a		75		82,500
SandRidge Energy Inc.
7.50%, 03/15/21 (Call 03/15/16)		50		51,875
7.50%, 02/15/23 (Call 08/15/17)		25		25,469
Stone Energy Corp.
7.50%, 11/15/22 (Call 11/15/17)		25		26,375
W&T Offshore Inc.
8.50%, 06/15/19 (Call 06/15/15)		25		26,750

				1,328,107
PERSONAL PRODUCTS — 0.46%
First Quality Finance Co. Inc.
4.63%, 05/15/21 (Call 05/15/16)^a		25		23,688
Revlon Consumer Products Corp.
5.75%, 02/15/21 (Call 02/15/16)		25		24,750

				48,438
PHARMACEUTICALS — 3.06%
Endo Finance Co.
5.75%, 01/15/22 (Call 01/15/17)^a		25		24,938
Salix Pharmaceuticals Ltd.
6.00%, 01/15/21 (Call 01/15/17)^a		50		52,125
Valeant Pharmaceuticals International Inc.
6.38%, 10/15/20 (Call 10/15/16)^a		25		26,688
7.00%, 10/01/20 (Call 10/01/15)^a		125		134,687
VPII Escrow Corp./Valeant Pharmaceuticals International Inc.
6.75%, 08/15/18 (Call 08/15/15)^a		50		54,812
7.50%, 07/15/21 (Call 07/15/16)^a		25		27,844

				321,094
PROFESSIONAL SERVICES — 0.25%
RSI Home Products Inc.
6.88%, 03/01/18 (Call 03/01/15)^a		25		26,125

				26,125
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.23%
CBRE Services Inc.
5.00%, 03/15/23 (Call 03/15/18)		25		23,906

				23,906
ROAD & RAIL — 1.27%
Avis Budget Car Rental LLC/Avis Budget Finance Inc.
8.25%, 01/15/19 (Call 10/15/14)		50		53,813


Security	Principal (000s)		Value

Hertz Corp. (The)
6.75%, 04/15/19 (Call 04/15/15)	$	75	$	79,781

				133,594
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.23%
Advanced Micro Devices Inc.
7.50%, 08/15/22		25		24,125
Amkor Technology Inc.
6.38%, 10/01/22 (Call 10/01/16)		25		25,563
Freescale Semiconductor Inc.
6.00%, 01/15/22 (Call 11/15/16)^a		50		52,000
8.05%, 02/01/20 (Call 06/01/15)		25		27,187

				128,875
SOFTWARE — 1.23%
BMC Software Inc.
8.13%, 07/15/21 (Call 07/15/16)^a		50		51,625
Infor US Inc.
9.38%, 04/01/19 (Call 04/01/15)		25		28,125
Nuance Communications Inc.
5.38%, 08/15/20 (Call 08/15/16)^a		50		48,875

				128,625
SPECIALTY RETAIL — 1.52%
Claire’s Stores Inc.
9.00%, 03/15/19 (Call 03/15/15)^a		25		26,188
Michaels Stores Inc.
7.75%, 11/01/18 (Call 11/01/14)		50		53,375
Party City Holdings Inc. Series WI
8.88%, 08/01/20 (Call 08/01/15)		25		27,812
Petco Holdings Inc.
8.50%, 10/15/17 (Call 03/03/14)^a,c		25		25,500
Serta Simmons Holdings LLC
8.13%, 10/01/20 (Call 10/01/15)^a		25		27,062

				159,937
TOBACCO — 3.05%
Alliance One International Inc.
9.88%, 07/15/21 (Call 07/15/17)		25		24,062
Reynolds Group Issuer Inc./Reynolds Group Issuer LLC
5.75%, 10/15/20 (Call 10/15/15)		100		102,250
9.88%, 08/15/19 (Call 08/15/15)		175		193,375

				319,687
TRADING COMPANIES & DISTRIBUTORS — 1.33%
H&E Equipment Services Inc.
7.00%, 09/01/22 (Call 09/01/17)		25		27,125
United Rentals (North America) Inc.
7.63%, 04/15/22 (Call 04/15/17)		100		112,500

				139,625
WIRELESS TELECOMMUNICATION SERVICES — 2.34%
Cricket Communications Inc.
7.75%, 10/15/20 (Call 10/15/15)		25		28,375
Sprint Communications Inc.
6.00%, 12/01/16		50		54,125


Security	Principal or Shares (000s)		Value

6.00%, 11/15/22	$	25	$	24,563
7.00%, 08/15/20		25		26,937
8.38%, 08/15/17		50		57,750
Sprint Corp.
7.88%, 09/15/23^a		50		53,375

				245,125

TOTAL CORPORATE BONDS & NOTES (Cost: $9,933,103)				10,275,358

SHORT-TERM INVESTMENTS — 6.81%

MONEY MARKET FUNDS — 6.81%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^d,e,f		580		580,478
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^d,e,f		50		49,912
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^d,e		84		83,890

				714,280

TOTAL SHORT-TERM INVESTMENTS (Cost: $714,280)				714,280


TOTAL INVESTMENTS IN SECURITIES — 104.74% (Cost: $10,647,383)				10,989,638
Other Assets, Less Liabilities — (4.74)%				(497,478	)

NET ASSETS — 100.00%			$	10,492,160

^a	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	Payment-in-kind (PIK) security. Income may be paid in cash or additional securities at the issuer’s discretion.

^d	Affiliated issuer. See Note 2.

^e	The rate quoted is the annualized seven-day yield of the fund at period end.

^f	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

COLLATERALIZED MORTGAGE OBLIGATIONS — 98.95%

MORTGAGE-BACKED SECURITIES — 98.95%
Banc of America Merrill Lynch Commercial Mortgage Inc.
Series 2005-4, Class A5A
4.93%, 07/10/45	$	650	$	681,947
Series 2005-6, Class A4
5.18%, 09/10/47^a		335		355,937
Series 2006-2, Class A4
5.74%, 05/10/45^a		600		653,622
Series 2006-3, Class A4
5.89%, 07/10/44^a		790		860,647
Series 2006-5, Class A4
5.41%, 09/10/47		600		651,829
Series 2006-5, Class AM
5.45%, 09/10/47		250		267,502
Series 2007-1, Class A4
5.45%, 01/15/49		650		710,196
Series 2007-2, Class A4
5.63%, 04/10/49^a		700		779,064
Series 2007-2, Class AAB
5.58%, 04/10/49^a		185		195,145
Series 2007-3, Class A4
5.62%, 06/10/49^a		550		611,331
Series 2007-5, Class A4
5.49%, 02/10/51		300		329,629
Series 2008-1, Class A4
6.21%, 02/10/51^a		130		148,041
Series 2008-LS1, Class A4B
6.01%, 12/10/49^a		500		558,076
Bear Stearns Commercial Mortgage Securities Inc.
Series 2005-PW10, Class AM
5.45%, 12/11/40^a		240		256,286
Series 2005-PWR8, Class A4
4.67%, 06/11/41		390		405,353
Series 2005-PWR9, Class A4A
4.87%, 09/11/42		650		681,189
Series 2005-T20, Class A4A
5.14%, 10/12/42^a		400		424,107
Series 2006-PW13, Class A4
5.54%, 09/11/41		400		436,614
Series 2006-PW14, Class A4
5.20%, 12/11/38		500		547,630
Series 2006-T22, Class A4
5.58%, 04/12/38^a		449		483,534
Series 2007-PW15, Class A4
5.33%, 02/11/44		749		816,956
Series 2007-PW16, Class AM
5.71%, 06/11/40^a		250		280,511
Series 2007-PW17, Class A4
5.69%, 06/11/50^a		550		618,091
Series 2007-PW18, Class AM
6.08%, 06/11/50^a		400		452,253
Series 2007-T26, Class A4
5.47%, 01/12/45^a		300		332,964
Series 2007-T28, Class AJ
5.96%, 09/11/42 (Call 10/07/17)^a		140		151,902


Security	Principal (000s)		Value

CFCRE Commercial Mortgage Trust Series 2011-C2, Class A2
3.06%, 12/15/47	$	145	$	151,055
Citigroup Commercial Mortgage Trust
Series 2007-C6, Class A3B
5.71%, 12/10/49^a		200		206,911
Series 2007-C6, Class A4
5.71%, 12/10/49^a		300		336,636
Series 2007-C6, Class ASB
5.71%, 12/10/49^a		91		96,579
Series 2008-C7, Class A4
6.13%, 12/10/49^a		200		227,166
Series 2013-GC11, Class AS
3.42%, 04/10/46		100		97,215
Citigroup/Deutsche Bank Commercial Mortgage Trust
Series 2005-CD1, Class A4
5.22%, 07/15/44^a		500		528,712
Series 2005-CD1, Class AJ
5.22%, 07/15/44^a		230		242,416
Series 2006-CD2, Class AM
5.35%, 01/15/46^a		525		564,198
Series 2006-CD3, Class A5
5.62%, 10/15/48		700		762,937
Series 2007-CD, Class A4
5.32%, 12/11/49		650		713,859
Series 2007-CD5, Class A4
5.89%, 11/15/44^a		820		924,365
COMM Mortgage Trust
Series 2006-C7, Class A4
5.75%, 06/10/46^a		525		573,138
Series 2006-C8, Class A4
5.31%, 12/10/46		603		660,798
Series 2006-C8, Class AM
5.35%, 12/10/46		600		658,287
Series 2007-C9, Class A4
5.80%, 12/10/49^a		650		735,571
Series 2012-CR1, Class A1
1.12%, 05/15/45		275		275,124
Series 2012-CR2, Class A4
3.15%, 08/15/45		300		294,368
Series 2012-CR2, Class ASB
2.75%, 08/15/45		250		249,560
Series 2012-CR3, Class A3
2.82%, 10/15/45		150		143,662
Series 2012-CR4, Class A2
1.80%, 10/15/45		390		388,348
Series 2012-CR4, Class A3
2.85%, 10/15/45		200		191,085
Series 2012-LC4, Class AM
4.06%, 12/10/44		125		129,063
Series 2013-CR10, Class A2
2.97%, 08/10/46		150		155,131
Series 2013-CR11, Class A4
4.26%, 10/10/46		550		577,690
Series 2013-CR6, Class A2
2.12%, 03/10/46		500		502,867
Series 2013-CR6, Class A4
3.10%, 03/10/46		350		339,402
Series 2013-CR7, Class A4
3.21%, 03/10/46		500		487,642
Series 2013-CR9, Class A4
4.24%, 07/10/45^a		600		635,067
Series 2013-LC6, Class AM
3.28%, 01/10/46		100		96,050


Security	Principal (000s)		Value

Series 2013-LC6, Class B
3.74%, 01/10/46	$	130	$	125,014
Credit Suisse Commercial Mortgage Trust
Series 2006-C2, Class A3
5.68%, 03/15/39^a		650		702,480
Series 2006-C4, Class A3
5.47%, 09/15/39		373		406,541
Series 2006-C4, Class AM
5.51%, 09/15/39		300		321,100
Series 2006-C5, Class A3
5.31%, 12/15/39		375		407,016
Series 2007-C3, Class A4
5.68%, 06/15/39^a		279		307,034
Series 2007-C5, Class A4
5.70%, 09/15/40^a		500		553,317
Series 2007-C5, Class AAB
5.62%, 09/15/40^a		515		551,565
Credit Suisse First Boston Mortgage Securities Corp.
Series 2005-C3, Class A3
4.65%, 07/15/37		30		30,508
Series 2005-C5, Class A4
5.10%, 08/15/38^a		800		838,914
Series 2005-C5, Class AJ
5.10%, 08/15/38^a		600		631,082
Series 2005-C6, Class AM
5.23%, 12/15/40^a		375		397,084
DBUBS Mortgage Trust Series 2011-LC3A, Class A2
3.64%, 08/10/44		150		158,242
GE Capital Commercial Mortgage Corp.
Series 2005-C4, Class AM
5.31%, 11/10/45^a		150		159,401
Series 2007-C1, Class A4
5.54%, 12/10/49		310		339,080
Greenwich Capital Commercial Funding Corp.
Series 2005-GG5, Class A5
5.22%, 04/10/37^a		300		315,654
Series 2005-GG5, Class AM
5.28%, 04/10/37^a		301		320,350
Series 2006-GG7, Class A4
5.82%, 07/10/38^a		353		385,567
Series 2007-GG11, Class A4
5.74%, 12/10/49		700		783,579
Series 2007-GG9, Class A4
5.44%, 03/10/39		950		1,044,940
Series 2007-GG9, Class AM
5.48%, 03/10/39		200		214,503
GS Mortgage Securities Corp. II
Series 2006-GG8, Class A4
5.56%, 11/10/39		340		373,659
Series 2012-GC6, Class A3
3.48%, 01/10/45		400		406,400
Series 2012-GC6, Class AAB
3.31%, 01/10/45		150		155,516
Series 2012-GCJ7, Class A4
3.38%, 05/10/45		350		353,174
GS Mortgage Securities Trust
Series 2005-GG4, Class A4
4.76%, 07/10/39		385		399,713
Series 2005-GG4, Class A4A
4.75%, 07/10/39		479		496,759
Series 2006-GG6, Class A4


Security	Principal (000s)		Value

5.55%, 04/10/38^a	$	505	$	542,880
Series 2006-GG6, Class AM
5.62%, 04/10/38^a		500		539,770
Series 2006-GG8, Class AM
5.59%, 11/10/39 (Call 10/06/16)		300		330,231
Series 2007-GG10, Class A4
5.81%, 08/10/45^a		1,000		1,101,952
Series 2011-GC5, Class A2
3.00%, 08/10/44		245		254,818
Series 2011-GC5, Class A3
3.82%, 08/10/44		100		106,925
Series 2012-GCJ7, Class AS
4.09%, 05/10/45		100		103,021
Series 2013-GC12, Class B
3.78%, 06/10/46^a		115		110,172
Series 2013-GC13, Class A5
4.04%, 07/10/46^a		310		324,522
Series 2013-GC14, Class A5
4.24%, 08/10/46		800		840,894
Series 2013-GC16, Class A4
4.27%, 11/10/46		500		526,167
Series 2013-GC16, Class AS
4.65%, 11/10/46		150		159,291
Series 2013-GC16, Class C
5.31%, 11/10/46^a		100		103,984
J.P. Morgan Chase Commercial Mortgage Securities Corp.
Series 2005-CB13, Class A4
5.24%, 01/12/43^a		200		212,923
Series 2005-LDP1, Class D
5.16%, 03/15/46^a		400		409,089
Series 2005-LDP3, Class AJ
5.00%, 08/15/42^a		500		523,641
Series 2005-LDP4, Class A4
4.92%, 10/15/42^a		237		249,411
Series 2005-LDP4, Class AM
5.00%, 10/15/42^a		210		221,455
Series 2005-LDP5, Class A4
5.24%, 12/15/44^a		635		675,943
Series 2005-LDP5, Class AM
5.28%, 12/15/44^a		600		646,812
Series 2006-CB14, Class A4
5.48%, 12/12/44^a		600		639,623
Series 2006-CB15, Class A4
5.81%, 06/12/43^a		894		973,011
Series 2006-CB16, Class AM
5.59%, 05/12/45		150		163,693
Series 2006-CB17, Class A4
5.43%, 12/12/43		400		433,927
Series 2006-LDP7, Class A4
5.87%, 04/15/45^a		800		873,202
Series 2006-LDP8, Class A4
5.40%, 05/15/45		330		359,468
Series 2006-LDP9, Class A3
5.34%, 05/15/47		300		329,169
Series 2007-CB18, Class A4
5.44%, 06/12/47		450		495,056
Series 2007-CB19, Class A4
5.71%, 02/12/49^a		400		445,687
Series 2007-CB20, Class A4
5.79%, 02/12/51^a		850		954,080
Series 2007-LD11, Class A4
5.81%, 06/15/49^a		305		341,280
Series 2007-LD12, Class A3
5.93%, 02/15/51^a		158		159,369


Security	Principal (000s)		Value

Series 2007-LDPX, Class A3
5.42%, 01/15/49	$	855	$	940,491
Series 2011-C5, Class A3
4.17%, 08/15/46		250		265,866
Series 2012-C6, Class A3
3.51%, 05/15/45		300		303,196
Series 2012-C8, Class A3
2.83%, 10/15/45		250		239,314
Series 2012-CBX, Class AS
4.27%, 06/15/45		250		259,927
Series 2012-LC9, Class A3
2.48%, 12/15/47		200		197,773
Series 2013-C10, Class A5
3.14%, 12/15/47		600		582,145
Series 2013-C10, Class AS
3.37%, 12/15/47		100		96,913
Series 2013-C10, Class ASB
2.70%, 12/15/47		100		98,355
Series 2013-C10, Class B
3.67%, 12/15/47^a		100		95,331
Series 2013-C10, Class C
4.16%, 12/15/47^a		200		191,756
Series 2013-C13, Class A4
3.99%, 01/15/46^a		250		258,365
Series 2013-LC11, Class C
3.96%, 04/15/46^a		100		92,716
JPMBB Commercial Mortgage Securities Trust
Series 2013-C12, Class A1
1.08%, 07/15/45		289		288,304
Series 2013-C12, Class A2
2.42%, 07/15/45		400		404,993
Series 2013-C12, Class AS
4.03%, 07/15/45^a		282		287,103
Series 2013-C12, Class D
4.09%, 07/15/45^a		50		42,718
Series 2013-C14, Class A2
3.02%, 08/15/46		250		258,099
Series 2013-C14, Class AS
4.41%, 08/15/46^a		150		156,137
Series 2013-C15, Class B
4.93%, 11/15/45		200		206,982
LB Commercial Conduit Mortgage Trust Series 2007-C3, Class A4
5.89%, 07/15/44^a		650		733,032
LB-UBS Commercial Mortgage Trust
Series 06-C1, Class A4
5.16%, 02/15/31		600		640,293
Series 2005-C3, Class AJ
4.84%, 07/15/40		300		310,988
Series 2005-C5, Class A4
4.95%, 09/15/30		416		433,686
Series 2005-C7, Class AM
5.26%, 11/15/40^a		460		489,336
Series 2006-C4, Class A4
5.84%, 06/15/38^a		832		910,531
Series 2006-C6, Class A4
5.37%, 09/15/39		700		767,173
Series 2006-C6, Class AAB
5.34%, 09/15/39		132		137,922
Series 2006-C7, Class AM
5.38%, 11/15/38		250		271,175


Security	Principal (000s)		Value

Series 2007-C1, Class A4
5.42%, 02/15/40	$	400	$	441,404
Series 2007-C2, Class A3
5.43%, 02/15/40		373		412,258
Series 2007-C6, Class AM
6.11%, 07/15/40^a		320		354,035
Series 2007-C7, Class A3
5.87%, 09/15/45^a		265		299,009
Merrill Lynch Mortgage Trust
Series 2005-CKI1, Class A6
5.28%, 11/12/37^a		453		479,983
Series 2005-CKI1, Class AJ
5.28%, 11/12/37^a		275		287,335
Series 2005-LC1, Class A4
5.29%, 01/12/44^a		703		749,784
Series 2008-C1, Class A4
5.69%, 02/12/51		125		140,426
Series 2008-C1, Class AM
6.26%, 02/12/51^a		290		336,878
Merrill Lynch/Countrywide Commercial Mortgage Trust
Series 2006-4, Class A3
5.17%, 12/12/49		700		759,647
Series 2006-4, Class AM
5.20%, 12/12/49		190		207,597
Series 2007-9, Class AM
5.86%, 09/12/49^a		250		281,547
Morgan Stanley Capital I Inc.
Series 2005-HQ6, Class A4A
4.99%, 08/13/42		800		835,679
Series 2005-HQ6, Class AJ
5.07%, 08/13/42^a		275		287,479
Series 2005-IQ10, Class A4A
5.23%, 09/15/42^a		517		543,444
Series 2005-IQ10, Class AJ
5.21%, 09/15/42^a		500		524,550
Series 2006-HQ9, Class A4
5.73%, 07/12/44^a		565		615,679
Series 2006-HQ9, Class AJ
5.79%, 07/12/44^a		300		324,684
Series 2006-IQ11, Class A4
5.67%, 10/15/42^a		287		306,985
Series 2006-IQ11, Class AJ
5.67%, 10/15/42^a		200		210,873
Series 2006-T23, Class A4
5.81%, 08/12/41^a		325		357,282
Series 2007-IQ14, Class A2
5.61%, 04/15/49		135		135,517
Series 2007-IQ14, Class A4
5.69%, 04/15/49^a		300		333,480
Series 2007-IQ16 Class A4
5.81%, 12/12/49		650		729,062
Series 2007-IQ16, Class AM
6.09%, 12/12/49^a		200		227,006
Series 2007-T25, Class A3
5.51%, 11/12/49^a		240		265,521
Series 2007-T27, Class A4
5.65%, 06/11/42^a		550		620,237
Series 2011-C3, Class A3
4.05%, 07/15/49		250		267,275
Series 2012-C4, Class A2
2.11%, 03/15/45		500		507,737
Morgan Stanley/Bank of America Merrill Lynch Trust
Series 2012-C6, Class A4
2.86%, 11/15/45		300		286,636


Security	Principal (000s)		Value

Series 2013-C10, Class A4
4.08%, 07/15/46^a	$	250	$	261,175
Series 2013-C7, Class A1
0.74%, 02/15/46		210		208,662
Series 2013-C7, Class A4
2.92%, 02/15/46 (Call 01/11/23)		200		191,541
Series 2013-C7, Class AAB
2.47%, 02/15/46		150		146,005
Series 2013-C7, Class AS
3.21%, 02/15/46		121		115,011
Series 2013-C7, Class B
3.77%, 02/15/46		200		191,338
Series 2013-C8, Class A2
1.69%, 12/15/48		200		197,695
Series 2013-C9, Class A1
0.83%, 05/15/46		180		178,890
Series 2013-C9, Class AAB
2.66%, 05/15/46		300		293,198
UBS-Barclays Commercial Mortgage Trust
Series 2012-C1, Class A3
3.40%, 05/10/45		250		250,291
Series 2012-C1, Class B
4.82%, 05/10/45		150		157,079
Series 2012-C3, Class A4
3.09%, 08/10/49		150		146,302
Series 2012-C4, Class A5
2.85%, 12/10/45		250		238,170
Series 2013-C5, Class A4
3.18%, 03/10/46		300		292,622
Series 2013-C6, Class A4
3.24%, 04/10/46		677		662,017
UBS-Citigroup Commercial Mortgage Trust Series 2011-C1, Class A3
3.60%, 01/10/45		365		372,380
Wells Fargo Bank/Wachovia Bank Commercial Mortgage Trust
Series 2005-C18, Class A4
4.94%, 04/15/42		345		357,868
Series 2005-C21, Class A4
5.24%, 10/15/44^a		680		719,682
Series 2005-C22, Class A4
5.29%, 12/15/44^a		500		531,110
Series 2005-C22, Class AM
5.34%, 12/15/44^a		500		529,840
Series 2006-C23, Class A4
5.42%, 01/15/45^a		491		522,641
Series 2006-C23, Class AM
5.47%, 01/15/45^a		400		429,763
Series 2006-C25, Class A5
5.72%, 05/15/43^a		425		465,620
Series 2006-C27, Class A3
5.77%, 07/15/45^a		674		721,956
Series 2006-C27, Class AM
5.80%, 07/15/45^a		400		437,635
Series 2006-C28, Class AM
5.60%, 10/15/48^a		180		193,831
Series 2006-C29, Class A4
5.31%, 11/15/48		600		656,559
Series 2007-C30, Class A5
5.34%, 12/15/43		725		799,086
Series 2007-C31, Class A4
5.51%, 04/15/47		500		548,217
Series 2007-C32, Class A3
5.75%, 06/15/49^a		350		390,075


Security	Principal or Shares (000s)		Value

Series 2007-C33, Class A4
5.92%, 02/15/51^a	$	700	$	772,116
Wells Fargo Commercial Mortgage Trust
Series 2012-LC5, Class A2
1.84%, 10/15/45		700		701,407
Series 2012-LC5, Class A3
2.92%, 10/15/45		260		250,283
Series 2012-LC5, Class AS
3.54%, 10/15/45		200		196,315
Series 2013-LC12, Class A4
4.22%, 07/15/46^a		650		681,002
Series 2013-LC12, Class ASB
3.93%, 07/15/46^a		300		314,967
WF-RBS Commercial Mortgage Trust
2.98%, 06/15/46		460		461,231
3.65%, 12/15/46		500		515,847
Series 2012-C10, Class A1
0.73%, 12/15/45		103		102,753
Series 2012-C10, Class A3
2.88%, 12/15/45		200		191,340
Series 2012-C7, Class B
4.78%, 06/15/45^a		200		210,160
Series 2012-C8, Class A3
3.00%, 08/15/45		360		350,052
Series 2012-C9, Class A3
2.87%, 11/15/45		200		191,869
Series 2012-C9, Class C
4.54%, 11/15/45^a		150		147,225
Series 2013-C14, Class A5
3.34%, 06/15/46		260		255,497

				88,602,888

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost: $88,030,402)				88,602,888

SHORT-TERM INVESTMENTS — 0.87%

MONEY MARKET FUNDS — 0.87%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		779		779,065

				779,065

TOTAL SHORT-TERM INVESTMENTS (Cost: $779,065)				779,065


TOTAL INVESTMENTS IN SECURITIES — 99.82% (Cost: $88,809,467)				89,381,953
Other Assets, Less Liabilities — 0.18%				160,505

NET ASSETS — 100.00%			$	89,542,458

^a	Variable rate security. Rate shown is as of report date.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 26.56%

AEROSPACE & DEFENSE — 0.18%
Boeing Co. (The)
0.95%, 05/15/18	$	50	$	48,627
General Dynamics Corp.
1.00%, 11/15/17		25		24,422
Lockheed Martin Corp.
2.13%, 09/15/16		25		25,751
Northrop Grumman Corp.
1.75%, 06/01/18		25		24,716
United Technologies Corp.
1.80%, 06/01/17		75		76,609

				200,125
BEVERAGES — 0.67%
Anheuser-Busch InBev Finance Inc.
0.80%, 01/15/16		50		50,124
1.25%, 01/17/18		25		24,689
Anheuser-Busch InBev Worldwide Inc.
0.80%, 07/15/15		40		40,167
1.38%, 07/15/17		50		49,988
7.75%, 01/15/19		50		62,600
Coca-Cola Co. (The)
0.75%, 03/13/15		80		80,390
1.65%, 11/01/18		100		99,703
Diageo Capital PLC
1.50%, 05/11/17		75		75,355
PepsiCo Inc.
0.70%, 02/26/16		50		50,019
1.25%, 08/13/17		200		199,437

				732,472
BIOTECHNOLOGY — 0.21%
Amgen Inc.
2.13%, 05/15/17		25		25,636
2.30%, 06/15/16		200		205,641

				231,277
CAPITAL MARKETS — 4.05%
Bank of New York Mellon Corp. (The)
1.20%, 02/20/15 (Call 01/20/15)		60		60,527
2.10%, 08/01/18		25		25,123
2.10%, 01/15/19 (Call 12/15/18)		50		50,034
2.20%, 03/04/19 (Call 02/04/19)		50		50,200
Bear Stearns Companies Inc. (The)/J.P. Morgan Chase & Co.
5.55%, 01/22/17		50		55,435
6.40%, 10/02/17		200		232,274
Credit Suisse (USA) Inc.
5.85%, 08/16/16		100		111,948
Deutsche Bank AG London
6.00%, 09/01/17		200		229,908
European Investment Bank
0.50%, 08/15/16		425		423,787


Security	Principal (000s)		Value

0.63%, 04/15/16	$	50	$	50,112
1.00%, 07/15/15		250		252,533
1.00%, 12/15/17		320		316,707
1.00%, 03/15/18		100		98,352
1.00%, 06/15/18		75		73,348
1.13%, 12/15/16		200		201,983
1.13%, 09/15/17		100		99,880
1.63%, 06/15/17		70		71,340
Goldman Sachs Group Inc. (The)
2.38%, 01/22/18		50		50,265
3.30%, 05/03/15		75		77,278
3.63%, 02/07/16		300		314,378
5.63%, 01/15/17		40		44,163
6.15%, 04/01/18		250		287,112
International Finance Corp.
0.50%, 05/16/16		100		99,994
0.63%, 12/21/17		40		39,148
2.25%, 04/11/16		200		207,667
Jefferies Group LLC
3.88%, 11/09/15		20		20,859
5.13%, 04/13/18		50		54,192
Morgan Stanley
1.75%, 02/25/16		200		202,394
3.80%, 04/29/16		200		211,195
4.75%, 03/22/17		100		109,349
5.38%, 10/15/15		100		107,269
Nomura Holdings Inc.
2.00%, 09/13/16		100		100,990
Petrobras International Finance Co.
6.13%, 10/06/16		75		80,966
State Street Corp.
1.35%, 05/15/18		50		49,105

				4,459,815
CHEMICALS — 0.37%
Dow Chemical Co. (The)
2.50%, 02/15/16		200		205,990
E.I. du Pont de Nemours and Co.
6.00%, 07/15/18		50		58,519
Eastman Chemical Co.
2.40%, 06/01/17		25		25,579
Ecolab Inc.
1.45%, 12/08/17		50		49,385
3.00%, 12/08/16		20		21,029
Praxair Inc.
0.75%, 02/21/16		50		50,039

				410,541
COMMERCIAL BANKS — 4.10%
African Development Bank
1.13%, 03/15/17		50		50,354
Bank of Montreal
1.30%, 07/15/16		150		151,410
1.45%, 04/09/18 (Call 03/09/18)		25		24,643
Bank of Nova Scotia
2.05%, 10/07/15		50		51,287
2.05%, 10/30/18		200		200,132
Barclays Bank PLC
2.75%, 02/23/15		100		102,570
BB&T Corp.
1.45%, 01/12/18 (Call 12/12/17)		50		49,285
3.20%, 03/15/16 (Call 02/16/16)		100		104,514


Security	Principal (000s)		Value

BNP Paribas SA
2.38%, 09/14/17	$	50	$	51,035
3.60%, 02/23/16		100		105,370
Canadian Imperial Bank of Commerce
0.90%, 10/01/15		100		100,543
1.55%, 01/23/18 (Call 12/23/17)^a		25		24,775
Commonwealth Bank of Australia
2.50%, 09/20/18		100		102,046
Corporacion Andina de Fomento
3.75%, 01/15/16		25		26,099
Council of Europe Development Bank
1.25%, 09/22/16		50		50,710
1.50%, 06/19/17		32		32,456
European Bank for Reconstruction and Development
0.75%, 09/01/17		150		148,432
1.00%, 02/16/17		32		32,178
1.63%, 11/15/18		100		100,394
Fifth Third Bancorp
3.63%, 01/25/16		100		105,118
HSBC USA Inc.
1.63%, 01/16/18		100		99,201
KeyCorp
3.75%, 08/13/15		50		52,156
KfW
0.50%, 09/30/15		50		50,142
0.63%, 12/15/16		200		199,356
Lloyds Bank PLC
4.88%, 01/21/16		50		53,762
Nordic Investment Bank
0.50%, 04/14/16		200		199,989
1.00%, 03/07/17		50		50,298
PNC Funding Corp.
2.70%, 09/19/16 (Call 08/19/16)^b		100		104,367
Rabobank Nederland
2.13%, 10/13/15		75		76,980
Regions Financial Corp.
2.00%, 05/15/18 (Call 04/15/18)		25		24,409
Royal Bank of Canada
1.15%, 03/13/15		100		100,933
1.50%, 01/16/18		50		49,837
2.30%, 07/20/16		100		103,382
Royal Bank of Scotland Group PLC
2.55%, 09/18/15		160		163,576
Santander Holdings USA Inc.
3.45%, 08/27/18 (Call 07/27/18)		25		26,019
SunTrust Banks Inc.
3.60%, 04/15/16 (Call 03/15/16)		50		52,656
Toronto-Dominion Bank (The)
2.38%, 10/19/16		45		46,639
2.63%, 09/10/18		100		103,027
U.S. Bancorp
1.65%, 05/15/17 (Call 04/15/17)		50		50,734
1.95%, 11/15/18 (Call 10/15/18)		200		201,030
UBS AG Stamford
5.88%, 12/20/17		200		229,789
Wachovia Corp./Wells Fargo & Co.
5.63%, 10/15/16		50		56,068
Wells Fargo & Co.
1.25%, 07/20/16^a		300		302,471
1.50%, 07/01/15		115		116,684
1.50%, 01/16/18		50		49,837
2.15%, 01/15/19		30		30,063


Security	Principal (000s)		Value

Westpac Banking Corp.
1.05%, 11/25/16	$	200	$	200,210
1.13%, 09/25/15		110		111,106

				4,518,072
COMMERCIAL SERVICES & SUPPLIES — 0.02%
Waste Management Inc.
2.60%, 09/01/16^a		25		25,912

				25,912
COMMUNICATIONS EQUIPMENT — 0.05%
Cisco Systems Inc.
5.50%, 02/22/16		50		54,937

				54,937
COMPUTERS & PERIPHERALS — 0.42%
Apple Inc.
0.45%, 05/03/16		200		199,097
1.00%, 05/03/18		25		24,360
EMC Corp.
1.88%, 06/01/18		25		24,989
Hewlett-Packard Co.
2.60%, 09/15/17		25		25,652
3.00%, 09/15/16		100		104,205
5.40%, 03/01/17		50		55,594
NetApp Inc.
2.00%, 12/15/17		25		25,082

				458,979
CONSTRUCTION MATERIALS — 0.04%
CRH America Inc.
6.00%, 09/30/16		35		39,085

				39,085
CONSUMER FINANCE — 1.74%
American Express Co.
1.55%, 05/22/18		250		246,037
American Express Credit Corp.
1.75%, 06/12/15		25		25,403
2.38%, 03/24/17		75		77,286
American Honda Finance Corp.
1.13%, 10/07/16		50		50,189
Capital One Financial Corp.
1.00%, 11/06/15		100		100,066
2.15%, 03/23/15		60		60,981
Caterpillar Financial Services Corp.
0.70%, 02/26/16		50		50,070
1.35%, 09/06/16		200		202,450
2.05%, 08/01/16		50		51,278
Ford Motor Credit Co. LLC
3.00%, 06/12/17		200		207,586
3.98%, 06/15/16		100		106,099
4.21%, 04/15/16		100		106,384
HSBC Finance Corp.
5.00%, 06/30/15		80		84,525
John Deere Capital Corp.
0.70%, 09/04/15		40		40,151
1.95%, 12/13/18		100		100,207


Security	Principal (000s)		Value

2.25%, 06/07/16	$	50	$	51,813
5.75%, 09/10/18		25		29,161
PACCAR Financial Corp.
0.80%, 02/08/16		15		14,966
Toyota Motor Credit Corp.
0.80%, 05/17/16		200		200,855
0.88%, 07/17/15		30		30,180
1.25%, 10/05/17		25		24,900
2.80%, 01/11/16		50		52,131

				1,912,718
DIVERSIFIED FINANCIAL SERVICES — 3.57%
Bank of America Corp.
1.25%, 01/11/16		50		50,228
1.35%, 11/21/16		100		99,912
3.70%, 09/01/15		75		78,158
5.75%, 12/01/17		200		227,681
6.00%, 09/01/17		75		85,653
6.05%, 05/16/16		100		109,943
6.50%, 08/01/16		275		309,976
6.88%, 04/25/18		100		118,861
BP Capital Markets PLC
1.38%, 05/10/18		25		24,630
1.85%, 05/05/17		25		25,449
3.13%, 10/01/15		250		260,486
Citigroup Inc.
1.25%, 01/15/16		125		125,575
1.30%, 11/15/16		100		100,515
1.70%, 07/25/16		200		202,135
1.75%, 05/01/18		50		49,121
2.25%, 08/07/15		95		96,910
4.75%, 05/19/15		50		52,541
5.50%, 02/15/17		25		27,738
GE Capital Trust I
6.38%, 11/15/67 (Call 11/15/17)^a		50		54,250
General Electric Capital Corp.
1.00%, 01/08/16		50		50,296
1.63%, 07/02/15		395		401,492
1.63%, 04/02/18		25		24,860
2.30%, 04/27/17		170		175,473
IntercontinentalExchange Group Inc.
2.50%, 10/15/18		50		50,924
International Bank for Reconstruction and Development
0.38%, 11/16/15		50		50,042
0.50%, 04/15/16		85		85,023
2.13%, 03/15/16		250		258,747
2.38%, 05/26/15		100		102,753
J.P. Morgan Chase & Co.
1.10%, 10/15/15		275		275,872
1.13%, 02/26/16		50		50,115
1.80%, 01/25/18		100		99,560
3.45%, 03/01/16		60		62,944
6.13%, 06/27/17		50		57,144
National Rural Utilities Cooperative Finance Corp.
1.00%, 02/02/15		35		35,223
2.15%, 02/01/19 (Call 01/01/19)		50		50,291

				3,930,521
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.12%
AT&T Inc.
0.88%, 02/13/15		240		240,773


Security	Principal (000s)		Value

0.90%, 02/12/16	$	50	$	49,988
1.60%, 02/15/17		100		100,766
1.70%, 06/01/17		25		25,185
5.50%, 02/01/18		25		28,394
British Telecommunications PLC
1.63%, 06/28/16		200		201,954
Embarq Corp.
7.08%, 06/01/16		25		27,875
Orange
4.38%, 07/08/14		50		50,812
Telefonica Emisiones SAU
3.99%, 02/16/16		50		52,587
6.22%, 07/03/17		25		28,489
Verizon Communications Inc.
3.00%, 04/01/16		200		208,674
3.65%, 09/14/18		125		132,946
5.55%, 02/15/16		50		54,408
6.10%, 04/15/18		25		29,042

				1,231,893
ELECTRIC UTILITIES — 0.71%
American Electric Power Co. Inc.
1.65%, 12/15/17 (Call 11/15/17)		25		24,418
Duke Energy Carolinas LLC
1.75%, 12/15/16		50		51,042
Duke Energy Corp.
1.63%, 08/15/17		90		90,288
Florida Power & Light Co.
5.55%, 11/01/17		25		28,431
Georgia Power Co.
0.75%, 08/10/15		35		34,967
Jersey Central Power & Light Co.
5.63%, 05/01/16		50		54,322
MidAmerican Energy Holdings Co.
5.75%, 04/01/18		25		28,713
Nevada Power Co.
6.50%, 08/01/18		50		59,482
NextEra Energy Capital Holdings Inc.
6.35%, 10/01/66 (Call 10/01/16)^c		25		24,875
Nisource Finance Corp.
6.40%, 03/15/18		25		29,153
PPL Capital Funding Inc.
1.90%, 06/01/18 (Call 05/01/18)		25		24,635
Southern California Edison Co.
5.00%, 01/15/16		50		53,922
Southern Co. (The)
2.45%, 09/01/18		50		51,190
Wisconsin Electric Power Co.
1.70%, 06/15/18 (Call 05/15/18)		25		24,744
Xcel Energy Inc.
0.75%, 05/09/16		200		198,647

				778,829
ELECTRICAL EQUIPMENT — 0.08%
Eaton Corp.
1.50%, 11/02/17		75		74,696
Tyco Electronics Group SA
2.38%, 12/17/18 (Call 11/17/18)		10		9,986

				84,682


Security	Principal (000s)		Value

ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.03%
Jabil Circuit Inc.
8.25%, 03/15/18	$	25	$	29,500

				29,500
ENERGY EQUIPMENT & SERVICES — 0.21%
Cameron International Corp.
1.15%, 12/15/16		50		49,913
Halliburton Co.
2.00%, 08/01/18 (Call 07/01/18)		50		50,391
Nabors Industries Inc.
6.15%, 02/15/18		25		28,294
Transocean Inc.
5.05%, 12/15/16		70		77,038
Weatherford International Inc.
6.35%, 06/15/17		25		28,282

				233,918
FOOD & STAPLES RETAILING — 0.29%
Costco Wholesale Corp.
1.13%, 12/15/17		25		24,712
CVS Caremark Corp.
2.25%, 12/05/18 (Call 11/05/18)		100		100,607
5.75%, 06/01/17		15		17,043
Kroger Co. (The)
2.20%, 01/15/17		20		20,531
Wal-Mart Stores Inc.
0.60%, 04/11/16		50		50,052
1.95%, 12/15/18		25		25,191
5.80%, 02/15/18		50		58,427
Walgreen Co.
1.80%, 09/15/17		25		25,218

				321,781
FOOD PRODUCTS — 0.29%
Bunge Ltd. Finance Corp.
3.20%, 06/15/17		25		25,905
ConAgra Foods Inc.
1.90%, 01/25/18		25		24,900
General Mills Inc.
5.70%, 02/15/17		25		28,242
Kellogg Co.
3.25%, 05/21/18		50		52,554
Kraft Foods Group Inc.
1.63%, 06/04/15		50		50,676
Mondelez International Inc.
4.13%, 02/09/16		25		26,580
6.13%, 02/01/18		100		115,760

				324,617
HEALTH CARE EQUIPMENT & SUPPLIES — 0.17%
Baxter International Inc.
1.85%, 01/15/17		25		25,338
1.85%, 06/15/18		50		50,073
Covidien International Finance SA
1.35%, 05/29/15		15		15,136
Medtronic Inc.
3.00%, 03/15/15		65		66,956


Security	Principal (000s)		Value

Stryker Corp.
2.00%, 09/30/16	$	25	$	25,727

				183,230
HEALTH CARE PROVIDERS & SERVICES — 0.49%
Aetna Inc.
1.50%, 11/15/17 (Call 10/15/17)		50		49,631
Cardinal Health Inc.
1.70%, 03/15/18		25		24,817
Express Scripts Holding Co.
2.10%, 02/12/15		40		40,569
2.65%, 02/15/17		25		25,902
3.50%, 11/15/16		200		211,999
Humana Inc.
6.30%, 08/01/18		25		29,293
UnitedHealth Group Inc.
1.40%, 10/15/17		50		49,763
6.00%, 02/15/18		25		29,025
WellPoint Inc.
1.25%, 09/10/15		30		30,234
2.30%, 07/15/18		50		50,391

				541,624
HOTELS, RESTAURANTS & LEISURE — 0.06%
McDonald’s Corp.
0.75%, 05/29/15		15		15,067
Starbucks Corp.
2.00%, 12/05/18 (Call 11/05/18)		25		25,267
Wyndham Worldwide Corp.
2.50%, 03/01/18 (Call 02/01/18)		25		24,851

				65,185
HOUSEHOLD PRODUCTS — 0.12%
Colgate-Palmolive Co.
1.30%, 01/15/17		25		25,348
Procter & Gamble Co. (The)
1.45%, 08/15/16		50		50,940
1.80%, 11/15/15		50		51,145

				127,433
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.07%
Constellation Energy Group Inc.
4.55%, 06/15/15		50		52,236
Exelon Generation Co. LLC
6.20%, 10/01/17		25		28,051

				80,287
INDUSTRIAL CONGLOMERATES — 0.32%
3M Co.
1.00%, 06/26/17		100		99,727
General Electric Co.
0.85%, 10/09/15		200		200,967
5.25%, 12/06/17		25		28,460
Koninklijke Philips NV
5.75%, 03/11/18		20		23,086

				352,240


Security	Principal (000s)		Value

INSURANCE — 0.86%
Aflac Inc.
2.65%, 02/15/17	$	50	$	52,109
American International Group Inc.
3.00%, 03/20/15		30		30,792
5.85%, 01/16/18		100		114,971
8.25%, 08/15/18		100		125,577
Berkshire Hathaway Finance Corp.
1.60%, 05/15/17		40		40,538
3.20%, 02/11/15		50		51,481
Berkshire Hathaway Inc.
1.55%, 02/09/18		25		24,966
1.90%, 01/31/17		100		102,556
Genworth Holdings Inc.
6.52%, 05/22/18		50		57,520
Hartford Financial Services Group Inc.
5.38%, 03/15/17		50		55,593
Lincoln National Corp.
7.00%, 05/17/66 (Call 05/17/16)^c		25		25,375
MetLife Inc.
1.76%, 12/15/17		50		50,145
6.75%, 06/01/16		40		45,259
Prudential Financial Inc. Series D
4.75%, 09/17/15		80		85,016
Travelers Companies Inc. (The)
5.80%, 05/15/18		50		57,915
XLIT Ltd.
2.30%, 12/15/18		25		24,845

				944,658
INTERNET & CATALOG RETAIL — 0.04%
Amazon.com Inc.
1.20%, 11/29/17		50		49,348

				49,348
INTERNET SOFTWARE & SERVICES — 0.02%
eBay Inc.
1.35%, 07/15/17		25		24,889

				24,889
IT SERVICES — 0.33%
International Business Machines Corp.
0.55%, 02/06/15		100		100,241
1.25%, 02/08/18		100		98,816
5.70%, 09/14/17		100		114,620
Western Union Co. (The)
2.88%, 12/10/17		50		50,810

				364,487
LIFE SCIENCES TOOLS & SERVICES — 0.06%
Thermo Fisher Scientific Inc.
1.30%, 02/01/17		50		49,909
2.25%, 08/15/16		20		20,543

				70,452


Security	Principal (000s)		Value

MEDIA — 0.74%
Comcast Corp.
5.70%, 05/15/18	$	100	$	115,644
5.90%, 03/15/16		40		44,148
6.30%, 11/15/17		50		58,260
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
2.40%, 03/15/17		50		51,241
3.50%, 03/01/16		65		68,256
Historic TW Inc.
6.88%, 06/15/18		25		30,002
NBCUniversal Media LLC
2.88%, 04/01/16		50		52,046
Thomson Reuters Corp.
0.88%, 05/23/16		25		24,837
Time Warner Cable Inc.
5.85%, 05/01/17		50		54,815
Time Warner Inc.
3.15%, 07/15/15		25		25,851
Viacom Inc.
1.25%, 02/27/15		215		216,348
Walt Disney Co. (The)
1.10%, 12/01/17		75		74,324

				815,772
METALS & MINING — 0.42%
Alcoa Inc.
5.55%, 02/01/17		35		38,086
BHP Billiton Finance (USA) Ltd.
1.00%, 02/24/15		125		125,913
1.63%, 02/24/17		50		50,710
Freeport-McMoRan Copper & Gold Inc.
1.40%, 02/13/15		25		25,138
2.38%, 03/15/18		50		49,882
Rio Tinto Finance (USA) PLC
1.63%, 08/21/17 (Call 07/21/17)		75		75,059
2.25%, 12/14/18 (Call 11/14/18)		50		50,101
Teck Resources Ltd.
2.50%, 02/01/18		25		25,252
Vale Overseas Ltd.
6.25%, 01/23/17		25		27,802

				467,943
MULTI-UTILITIES — 0.37%
Dominion Resources Inc.
Series A
1.40%, 09/15/17		100		98,666
Series C
5.15%, 07/15/15		50		53,072
Public Service Electric & Gas Co.
2.30%, 09/15/18 (Call 08/15/18)		200		203,856
Sempra Energy
2.30%, 04/01/17		25		25,685
6.15%, 06/15/18		25		28,930

				410,209


Security	Principal (000s)		Value

MULTILINE RETAIL — 0.10%
Target Corp.
5.38%, 05/01/17	$	100	$	113,432

				113,432
OFFICE ELECTRONICS — 0.07%
Xerox Corp.
2.95%, 03/15/17		20		20,725
6.40%, 03/15/16		50		55,251

				75,976
OIL, GAS & CONSUMABLE FUELS — 1.50%
Anadarko Petroleum Corp.
6.38%, 09/15/17		75		86,176
Apache Corp.
1.75%, 04/15/17		50		50,701
Buckeye Partners LP
2.65%, 11/15/18 (Call 10/15/18)		25		24,827
Canadian Natural Resources Ltd.
5.70%, 05/15/17		20		22,608
Chevron Corp.
0.89%, 06/24/16		50		50,234
1.72%, 06/24/18 (Call 05/24/18)		50		50,276
ConocoPhillips Co.
1.05%, 12/15/17 (Call 11/15/17)		100		98,604
Devon Energy Corp.
2.25%, 12/15/18 (Call 11/15/18)		100		100,067
Energy Transfer Partners LP
6.70%, 07/01/18		50		58,193
Enterprise Products Operating LLC
1.25%, 08/13/15		25		25,197
3.20%, 02/01/16		25		26,121
Series L
6.30%, 09/15/17		25		29,040
EOG Resources Inc.
2.50%, 02/01/16		50		51,752
Kinder Morgan Energy Partners LP
3.50%, 03/01/16		20		20,938
5.95%, 02/15/18		50		57,135
Marathon Oil Corp.
0.90%, 11/01/15		25		25,069
Occidental Petroleum Corp.
1.75%, 02/15/17		20		20,350
ONEOK Partners LP
2.00%, 10/01/17 (Call 07/01/17)		25		25,031
3.20%, 09/15/18 (Call 08/15/18)		25		25,926
Petrohawk Energy Corp.
7.25%, 08/15/18 (Call 08/15/14)		25		26,781
Phillips 66
2.95%, 05/01/17		20		20,915
Plains All American Pipeline LP/PAA Finance Corp.
6.13%, 01/15/17		100		113,783
Shell International Finance BV
1.13%, 08/21/17		75		74,566
2.00%, 11/15/18		75		75,633
3.10%, 06/28/15		25		25,925
Suncor Energy Inc.
6.10%, 06/01/18		25		29,115
Total Capital International SA
0.75%, 01/25/16		40		40,069
1.00%, 08/12/16		200		200,790


Security	Principal (000s)		Value

Total Capital SA
2.30%, 03/15/16	$	50	$	51,616
TransCanada PipeLines Ltd.
0.75%, 01/15/16		100		99,977
0.88%, 03/02/15		20		20,068
Williams Partners LP
7.25%, 02/01/17		25		28,960

				1,656,443
PAPER & FOREST PRODUCTS — 0.03%
International Paper Co.
7.95%, 06/15/18		25		30,907

				30,907
PERSONAL PRODUCTS — 0.05%
Avon Products Inc.
2.38%, 03/15/16		50		50,740

				50,740
PHARMACEUTICALS — 1.00%
AbbVie Inc.
1.20%, 11/06/15		100		101,065
1.75%, 11/06/17		75		75,349
Actavis Inc.
1.88%, 10/01/17		25		24,941
GlaxoSmithKline Capital Inc.
0.70%, 03/18/16		25		24,994
GlaxoSmithKline Capital PLC
0.75%, 05/08/15		15		15,064
1.50%, 05/08/17		200		201,713
Johnson & Johnson
1.65%, 12/05/18		50		49,918
Merck & Co. Inc.
1.30%, 05/18/18		225		222,067
4.00%, 06/30/15		15		15,736
Novartis Capital Corp.
2.90%, 04/24/15		15		15,467
Pfizer Inc.
0.90%, 01/15/17		100		99,675
5.35%, 03/15/15		25		26,351
Sanofi
2.63%, 03/29/16		220		229,009

				1,101,349
REAL ESTATE INVESTMENT TRUSTS (REITS) — 0.45%
American Tower Corp.
7.00%, 10/15/17		25		29,382
Boston Properties LP
3.70%, 11/15/18 (Call 08/15/18)		50		53,145
ERP Operating LP
5.38%, 08/01/16		50		55,111
HCP Inc.
3.75%, 02/01/16		20		20,959
6.00%, 01/30/17		50		55,818
Health Care REIT Inc.
3.63%, 03/15/16		50		51,984
Simon Property Group LP
2.15%, 09/15/17 (Call 06/15/17)		75		76,345
5.10%, 06/15/15		100		105,981


Security	Principal (000s)		Value

Ventas Realty LP/Ventas Capital Corp.
2.00%, 02/15/18 (Call 01/15/18)	$	50	$	49,778

				498,503
ROAD & RAIL — 0.12%
CSX Corp.
6.25%, 03/15/18^a		50		58,529
Ryder System Inc.
2.45%, 11/15/18 (Call 10/15/18)		50		49,831
2.50%, 03/01/17 (Call 02/01/17)		20		20,160

				128,520
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.37%
Altera Corp.
2.50%, 11/15/18		100		100,064
Intel Corp.
1.35%, 12/15/17		200		199,160
1.95%, 10/01/16		25		25,696
KLA-Tencor Corp.
6.90%, 05/01/18		25		29,052
Texas Instruments Inc.
2.38%, 05/16/16		50		51,863

				405,835
SOFTWARE — 0.14%
Microsoft Corp.
1.63%, 09/25/15		25		25,448
Oracle Corp.
1.20%, 10/15/17		75		74,321
5.75%, 04/15/18		50		58,062

				157,831
SPECIALTY RETAIL — 0.10%
AutoZone Inc.
1.30%, 01/13/17		25		25,078
Home Depot Inc. (The)
5.40%, 03/01/16		50		54,839
Lowe’s Companies Inc.
1.63%, 04/15/17 (Call 03/15/17)		25		25,377

				105,294
TOBACCO — 0.17%
Altria Group Inc.
4.13%, 09/11/15		25		26,343
9.70%, 11/10/18		50		66,278
Philip Morris International Inc.
1.13%, 08/21/17		50		49,590
2.50%, 05/16/16		20		20,756
Reynolds American Inc.
1.05%, 10/30/15		25		25,103

				188,070


Security	Principal (000s)		Value

TRADING COMPANIES & DISTRIBUTORS — 0.02%
Air Lease Corp.
5.63%, 04/01/17	$	25	$	27,531

				27,531
WIRELESS TELECOMMUNICATION SERVICES — 0.22%
Cellco Partnership/Verizon Wireless Capital LLC
8.50%, 11/15/18		50		63,860
Rogers Communications Inc.
6.80%, 08/15/18		25		30,019
Vodafone Group PLC
0.90%, 02/19/16		50		49,988
1.25%, 09/26/17		45		44,393
1.50%, 02/19/18		50		49,349

				237,609

TOTAL CORPORATE BONDS & NOTES (Cost: $29,146,805)				29,255,471

FOREIGN AGENCY OBLIGATIONS^d — 3.61%

AUSTRIA — 0.17%
Oesterreichische Kontrollbank AG
0.75%, 12/15/16		100		99,947
1.13%, 07/06/15		32		32,359
1.13%, 05/29/18		50		49,262

				181,568
BRAZIL — 0.08%
Petrobras International Finance Co.
3.50%, 02/06/17		40		40,306
5.88%, 03/01/18		50		53,139

				93,445
CANADA — 0.83%
British Columbia (Province of)
1.20%, 04/25/17		25		25,199
Export Development Canada
0.50%, 09/15/15		35		35,122
0.75%, 12/15/17		75		73,873
Hydro-Quebec
1.38%, 06/19/17		100		100,812
Manitoba (Province of)
4.90%, 12/06/16		50		55,711
Ontario (Province of)
0.95%, 05/26/15^a		100		100,802
1.00%, 07/22/16		400		402,985
1.20%, 02/14/18		35		34,606
4.75%, 01/19/16^a		50		54,061
Quebec (Province of)
5.13%, 11/14/16		32		35,815

				918,986
GERMANY — 1.11%
KfW
0.50%, 04/19/16		575		574,904


Security	Principal (000s)		Value

1.25%, 10/26/15	$	100	$	101,603
1.25%, 02/15/17		75		75,954
2.00%, 06/01/16		50		51,656
Series G
4.38%, 03/15/18		80		89,717
Landwirtschaftliche Rentenbank
0.88%, 09/12/17		70		69,484
2.13%, 07/15/16		250		259,244

				1,222,562
JAPAN — 0.18%
Japan Bank for International Cooperation
1.75%, 07/31/18		200		200,741

				200,741
MEXICO — 0.05%
Pemex Project Funding Master Trust
5.75%, 03/01/18		25		27,500
Petroleos Mexicanos
3.50%, 07/18/18		30		30,600

				58,100
NETHERLANDS — 0.04%
Petrobras Global Finance BV
2.00%, 05/20/16		50		49,485

				49,485
NORWAY — 0.22%
Statoil ASA
1.80%, 11/23/16^a		200		204,356
3.13%, 08/17/17		32		33,923

				238,279
SUPRANATIONAL — 0.70%
Asian Development Bank
0.50%, 08/17/15		70		70,227
0.50%, 06/20/16		200		199,635
1.13%, 03/15/17		85		85,640
Inter-American Development Bank
0.88%, 11/15/16		300		301,450
1.13%, 03/15/17		60		60,489
1.38%, 10/18/16		50		50,944

				768,385
SWEDEN — 0.23%
Svensk Exportkredit AB
1.13%, 04/05/18		200		196,710
1.75%, 05/30/17		50		51,108

				247,818

TOTAL FOREIGN AGENCY OBLIGATIONS (Cost: $3,978,414)				3,979,369


Security	Principal (000s)		Value

FOREIGN GOVERNMENT OBLIGATIONS^d — 0.62%

BRAZIL — 0.05%
Brazil (Federative Republic of)
7.88%, 03/07/15	$	25	$	26,750
8.00%, 01/15/18		22		24,855

				51,605
CANADA — 0.03%
Canada (Government of)
0.88%, 02/14/17		35		35,121

				35,121
COLOMBIA — 0.10%
Colombia (Republic of)
7.38%, 01/27/17		100		115,250

				115,250
ITALY — 0.15%
Italy (Republic of)
5.38%, 06/12/17		150		165,109

				165,109
MEXICO — 0.11%
United Mexican States
5.63%, 01/15/17^a		50		55,850
11.38%, 09/15/16		50		63,500

				119,350
PHILIPPINES — 0.03%
Philippines (Republic of the)
9.38%, 01/18/17		25		30,406

				30,406
TURKEY — 0.15%
Turkey (Republic of)
7.00%, 09/26/16		100		109,600
7.25%, 03/15/15		50		52,760

				162,360

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $678,012)				679,201

U.S. GOVERNMENT & AGENCY OBLIGATIONS — 67.82%

U.S. GOVERNMENT AGENCY OBLIGATIONS — 7.81%
Federal Home Loan Banks
0.38%, 06/24/16		600		598,347
0.50%, 11/20/15^a		300		301,352
0.63%, 12/28/16		300		299,321
1.00%, 06/21/17		175		175,229
Federal Home Loan Mortgage Corp.
0.50%, 05/13/16		400		400,151


Security	Principal (000s)		Value

0.75%, 11/25/14	$	750	$	753,781
0.85%, 08/08/16 (Call 08/08/14)		250		250,103
0.88%, 10/14/16		1,055		1,061,351
0.88%, 03/07/18		860		844,370
1.00%, 09/29/17		100		99,564
Federal National Mortgage Association
0.38%, 07/05/16^a		600		598,302
0.50%, 05/27/15		900		903,053
0.50%, 09/28/15		300		301,111
0.50%, 03/30/16		200		200,271
0.63%, 08/26/16^a		200		200,169
0.88%, 08/28/14		550		552,366
0.88%, 02/08/18		250		245,807
0.88%, 05/21/18		370		361,632
1.88%, 09/18/18		450		456,112

				8,602,392
U.S. GOVERNMENT OBLIGATIONS — 60.01%
U.S. Treasury Bonds
9.13%, 05/15/18		250		332,602
U.S. Treasury Notes
0.25%, 02/15/15		1,800		1,801,692
0.25%, 07/15/15		1,340		1,340,764
0.25%, 09/15/15		1,150		1,149,977
0.25%, 12/15/15		500		499,505
0.25%, 04/15/16		500		498,245
0.25%, 05/15/16		585		582,596
0.38%, 06/15/15		970		972,357
0.38%, 06/30/15		600		601,482
0.38%, 08/31/15		500		501,065
0.38%, 11/15/15		450		450,720
0.38%, 01/15/16^a		750		750,630
0.38%, 02/15/16		600		600,222
0.38%, 03/15/16		400		399,940
0.50%, 06/15/16		1,800		1,801,584
0.50%, 07/31/17		500		492,335
0.63%, 07/15/16		500		501,560
0.63%, 08/15/16		1,400		1,403,206
0.63%, 10/15/16		2,350		2,352,092
0.63%, 11/15/16^a		500		500,100
0.63%, 12/15/16		1,100		1,099,373
0.63%, 04/30/18		400		389,764
0.75%, 10/31/17^a		400		395,488
0.75%, 12/31/17		550		542,129
0.75%, 02/28/18^a		210		206,344
0.75%, 03/31/18		225		220,716
0.88%, 09/15/16		1,300		1,310,699
0.88%, 11/30/16		700		704,508
0.88%, 01/31/18		250		247,235
1.00%, 09/30/16^a		500		505,460
1.00%, 10/31/16		1,900		1,919,342
1.25%, 09/30/15		200		203,260
1.25%, 10/31/15		1,700		1,728,679
1.25%, 10/31/18		1,150		1,140,352
1.25%, 11/30/18^a		2,000		1,980,240
1.38%, 11/30/15		1,200		1,223,460
1.38%, 06/30/18^a		1,920		1,924,973
1.38%, 11/30/18		800		797,424
1.38%, 12/31/18		500		497,640
1.50%, 06/30/16^a		2,100		2,150,841
1.50%, 08/31/18^a		1,180		1,186,454
1.75%, 07/31/15		800		818,168


Security	Principal or Shares (000s)		Value

2.25%, 01/31/15	$	3,875	$	3,955,678
2.25%, 11/30/17		400		417,540
2.38%, 03/31/16		1,050		1,094,709
2.38%, 06/30/18^a		3,050		3,191,123
2.50%, 04/30/15		1,825		1,877,542
3.25%, 07/31/16		2,850		3,044,741
3.25%, 12/31/16		3,500		3,759,805
3.75%, 11/15/18		850		941,230
4.25%, 08/15/15^a		1,200		1,274,016
4.50%, 11/15/15^a		300		322,455
4.50%, 02/15/16		1,520		1,648,090
4.63%, 02/15/17		2,800		3,127,124
4.88%, 08/15/16^a		1,430		1,586,385
7.25%, 05/15/16^a		425		490,730
8.88%, 08/15/17		500		638,095

				66,094,486

TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost: $74,581,099)				74,696,878

SHORT-TERM INVESTMENTS — 13.00%

MONEY MARKET FUNDS — 13.00%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,e,f		11,967		11,967,038
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,e,f		1,029		1,028,977
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,e		1,316		1,316,309

				14,312,324

TOTAL SHORT-TERM INVESTMENTS (Cost: $14,312,324)				14,312,324


TOTAL INVESTMENTS IN SECURITIES — 111.61% (Cost: $122,696,654)				122,923,243
Other Assets, Less Liabilities — (11.61)%				(12,783,365	)

NET ASSETS — 100.00%			$	110,139,878

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	Variable rate security. Rate shown is as of report date.

^d	Investments are denominated in U.S. dollars.

^e	The rate quoted is the annualized seven-day yield of the fund at period end.

^f	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 94.25%

CAPITAL MARKETS — 13.24%
Ameriprise Financial Inc.
4.00%, 10/15/23	$	10	$	10,170
Bank of New York Mellon Corp. (The)
2.30%, 07/28/16		150		156,062
Credit Suisse (USA) Inc.
5.85%, 08/16/16		75		83,961
Deutsche Bank AG London
6.00%, 09/01/17		100		114,954
Goldman Sachs Group Inc. (The)
5.25%, 07/27/21		100		109,591
6.75%, 10/01/37		125		138,898
Invesco Finance PLC
4.00%, 01/30/24^a		25		25,433
Jefferies Group LLC
6.88%, 04/15/21		50		57,673
Morgan Stanley
3.75%, 02/25/23		25		24,588
4.10%, 05/22/23		50		48,497
4.75%, 03/22/17		150		164,023
5.75%, 01/25/21^a		200		227,425
Nomura Holdings Inc.
6.70%, 03/04/20		75		87,904
Northern Trust Corp.
2.38%, 08/02/22		25		23,532
State Street Corp.
2.88%, 03/07/16		100		104,500

				1,377,211
COMMERCIAL BANKS — 30.02%
Abbey National Treasury Services PLC
4.00%, 04/27/16		25		26,563
Bank of Montreal
2.55%, 11/06/22 (Call 10/06/22)		50		46,735
Bank of Nova Scotia
2.90%, 03/29/16		125		130,717
Barclays Bank PLC
5.13%, 01/08/20		100		113,011
5.20%, 07/10/14		100		102,116
BB&T Corp.
3.20%, 03/15/16 (Call 02/16/16)		125		130,642
BNP Paribas SA
3.25%, 03/03/23		50		47,835
3.60%, 02/23/16		125		131,713
Canadian Imperial Bank of Commerce
1.55%, 01/23/18 (Call 12/23/17)^a		50		49,551
Commonwealth Bank of Australia
2.50%, 09/20/18		50		51,023
Credit Suisse New York
5.40%, 01/14/20		50		56,686
Fifth Third Bancorp
3.50%, 03/15/22 (Call 02/15/22)		25		24,968
3.63%, 01/25/16		100		105,118
4.30%, 01/16/24 (Call 12/16/23)		25		24,960


Security	Principal (000s)		Value

HSBC Holdings PLC
4.00%, 03/30/22	$	50	$	52,056
5.10%, 04/05/21		75		83,978
6.50%, 09/15/37		100		119,498
KeyCorp
5.10%, 03/24/21		25		27,897
Lloyds Bank PLC
4.20%, 03/28/17		50		54,258
National Australia Bank Ltd.
1.60%, 08/07/15		25		25,430
PNC Funding Corp.
2.70%, 09/19/16 (Call 08/19/16)^b		150		156,551
Rabobank Nederland
3.38%, 01/19/17		100		106,526
3.88%, 02/08/22		100		102,474
Regions Financial Corp.
2.00%, 05/15/18 (Call 04/15/18)		50		48,819
Royal Bank of Scotland Group PLC
5.63%, 08/24/20^a		25		28,349
6.13%, 01/11/21		75		87,454
SunTrust Banks Inc.
3.60%, 04/15/16 (Call 03/15/16)		75		78,984
Toronto-Dominion Bank (The)
2.38%, 10/19/16		50		51,821
U.S. Bancorp
2.20%, 11/15/16 (Call 10/14/16)		150		155,146
UBS AG Stamford
5.88%, 12/20/17		175		201,065
Wachovia Corp./Wells Fargo & Co.
5.50%, 08/01/35		50		52,103
5.63%, 10/15/16		100		112,136
Wells Fargo & Co.
3.00%, 01/22/21		25		25,174
3.50%, 03/08/22		50		50,499
4.60%, 04/01/21		225		247,015
5.38%, 11/02/43		25		25,681
Westpac Banking Corp.
0.95%, 01/12/16		50		50,278
4.88%, 11/19/19		100		111,971
Zions BanCorp.
4.50%, 06/13/23 (Call 05/11/23)		25		24,965

				3,121,766
CONSUMER FINANCE — 5.09%
American Express Co.
2.65%, 12/02/22		100		94,182
American Express Credit Corp.
1.30%, 07/29/16		100		100,831
2.38%, 03/24/17		25		25,762
Capital One Financial Corp.
6.75%, 09/15/17		125		146,208
Discover Financial Services
3.85%, 11/21/22		25		24,149
HSBC Finance Corp.
5.00%, 06/30/15		75		79,242
6.68%, 01/15/21		50		58,324

				528,698
DIVERSIFIED FINANCIAL SERVICES — 19.54%
Bank of America Corp.
4.10%, 07/24/23		75		75,362
5.70%, 01/24/22		75		85,238
6.88%, 04/25/18		175		208,006
7.63%, 06/01/19		100		123,828


Security	Principal (000s)		Value

Citigroup Inc.
4.05%, 07/30/22	$	50	$	49,936
4.45%, 01/10/17		75		81,271
4.50%, 01/14/22		50		52,952
4.75%, 05/19/15		100		105,081
4.95%, 11/07/43		25		24,868
6.88%, 03/05/38		100		125,697
CME Group Inc.
5.30%, 09/15/43 (Call 03/15/43)		25		27,182
General Electric Capital Corp.
1.60%, 11/20/17		25		24,998
1.63%, 07/02/15		50		50,822
2.25%, 11/09/15		200		205,837
4.65%, 10/17/21		25		27,426
Series A
6.75%, 03/15/32		175		220,069
ING U.S. Inc.
2.90%, 02/15/18		50		51,472
J.P. Morgan Chase & Co.
1.13%, 02/26/16		100		100,231
3.15%, 07/05/16		200		209,097
3.38%, 05/01/23		50		46,797
5.60%, 07/15/41		100		110,443
Leucadia National Corp.
5.50%, 10/18/23 (Call 01/18/23)		25		25,589

				2,032,202
HEALTH CARE PROVIDERS & SERVICES — 4.63%
Aetna Inc.
4.13%, 11/15/42 (Call 05/15/42)		50		45,680
Cigna Corp.
4.00%, 02/15/22 (Call 11/15/21)		100		103,813
Humana Inc.
7.20%, 06/15/18		25		29,969
UnitedHealth Group Inc.
0.85%, 10/15/15		50		50,125
6.88%, 02/15/38		75		98,297
WellPoint Inc.
2.30%, 07/15/18		75		75,587
5.10%, 01/15/44		50		50,899
5.25%, 01/15/16		25		27,077

				481,447
INSURANCE — 14.06%
ACE INA Holdings Inc.
2.70%, 03/13/23		25		23,510
4.15%, 03/13/43		25		23,304
Aflac Inc.
2.65%, 02/15/17^a		75		78,163
3.63%, 06/15/23^a		25		24,719
Allstate Corp. (The)
5.55%, 05/09/35		25		28,480
American International Group Inc.
8.18%, 05/15/58 (Call 05/15/38)^c		100		123,250
Aon PLC
4.00%, 11/27/23 (Call 08/27/23)		50		50,324
Assurant Inc.
4.00%, 03/15/23		25		24,497


Security	Principal (000s)		Value

AXA SA
8.60%, 12/15/30	$	25	$	31,062
Berkshire Hathaway Finance Corp.
5.75%, 01/15/40		25		28,407
Berkshire Hathaway Inc.
3.00%, 02/11/23		50		48,387
Chubb Corp. (The)
6.50%, 05/15/38		25		32,017
Fidelity National Financial Inc.
5.50%, 09/01/22		15		15,819
Genworth Holdings Inc.
6.52%, 05/22/18		50		57,520
Hartford Financial Services Group Inc.
5.50%, 03/30/20		50		56,879
Infinity Property & Casualty Corp.
5.00%, 09/19/22^a		10		10,233
Lincoln National Corp.
8.75%, 07/01/19		100		129,795
Marsh & McLennan Companies Inc.
4.80%, 07/15/21 (Call 04/15/21)		100		108,099
MetLife Inc.
6.40%, 12/15/66 (Call 12/15/31)		50		51,750
6.75%, 06/01/16		100		113,147
Principal Financial Group Inc.
3.30%, 09/15/22		25		24,234
Progressive Corp. (The)
3.75%, 08/23/21		50		51,942
Prudential Financial Inc.
5.80%, 11/16/41		50		56,592
7.38%, 06/15/19		100		124,446
Reinsurance Group of America Inc.
4.70%, 09/15/23		25		25,744
Travelers Companies Inc. (The)
4.60%, 08/01/43		35		35,149
6.25%, 06/20/16		50		56,133
XLIT Ltd.
5.75%, 10/01/21		25		28,720

				1,462,322
REAL ESTATE INVESTMENT TRUSTS (REITS) — 7.67%
AvalonBay Communities Inc.
2.95%, 09/15/22 (Call 06/15/22)		25		23,470
Boston Properties LP
3.70%, 11/15/18 (Call 08/15/18)		100		106,289
DDR Corp.
3.38%, 05/15/23 (Call 02/15/23)		25		23,393
Digital Realty Trust LP
3.63%, 10/01/22 (Call 07/01/22)		25		22,906
Duke Realty LP
4.38%, 06/15/22 (Call 03/15/22)		25		25,182
EPR Properties
5.25%, 07/15/23 (Call 04/15/23)		25		24,783
ERP Operating LP
4.63%, 12/15/21 (Call 09/15/21)		50		53,500
HCP Inc.
3.75%, 02/01/16		50		52,399
5.38%, 02/01/21 (Call 11/03/20)		25		27,771
Health Care REIT Inc.
5.25%, 01/15/22 (Call 10/15/21)		50		54,221
Hospitality Properties Trust
5.00%, 08/15/22 (Call 02/15/22)		25		25,804


Security	Principal or Shares (000s)		Value

Kimco Realty Corp.
3.13%, 06/01/23 (Call 03/01/23)	$	25	$	23,091
Liberty Property LP
4.13%, 06/15/22 (Call 03/15/22)		25		25,097
ProLogis LP
6.63%, 05/15/18		100		115,943
Realty Income Corp.
3.25%, 10/15/22 (Call 07/15/22)		25		23,407
Simon Property Group LP
5.65%, 02/01/20 (Call 11/01/19)		125		144,991
Ventas Realty LP/Ventas Capital Corp.
4.25%, 03/01/22 (Call 12/01/21)		25		25,505

				797,752

TOTAL CORPORATE BONDS & NOTES
(Cost: $9,444,893)				9,801,398

SHORT-TERM INVESTMENTS — 6.46%

MONEY MARKET FUNDS — 6.46%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,d,e		280		280,064
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,d,e		24		24,081
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,d		368		367,778

				671,923

TOTAL SHORT-TERM INVESTMENTS
(Cost: $671,923)				671,923


TOTAL INVESTMENTS IN SECURITIES — 100.71%
(Cost: $10,116,816)				10,473,321
Other Assets, Less Liabilities — (0.71)%				(73,705	)

NET ASSETS — 100.00%			$	10,399,616

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	Variable rate security. Rate shown is as of report date.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

^e	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES^a — 85.63%

AEROSPACE & DEFENSE — 0.45%
Honeywell International Inc.
0.29%, 11/17/15	$	6,000	$	6,003,180
Rockwell Collins Inc.
0.59%, 12/15/16		4,000		4,000,012
United Technologies Corp.
0.74%, 06/01/15		6,600		6,641,164

				16,644,356
AUTO COMPONENTS — 0.16%
Johnson Controls Inc.
0.65%, 02/04/14		6,050		6,050,000

				6,050,000
AUTOMOBILES — 0.31%
Nissan Motor Acceptance Corp.
0.95%, 09/26/16^b		11,400		11,458,151

				11,458,151
BEVERAGES — 1.88%
Anheuser-Busch InBev Finance Inc.
0.43%, 01/27/17		6,000		6,003,588
0.64%, 02/01/19		6,000		5,991,216
Anheuser-Busch InBev Woldwide Inc.
0.60%, 07/14/14		2,400		2,403,449
Coca-Cola Co. (The)
0.19%, 03/14/14		4,606		4,606,184
0.22%, 03/05/15		4,000		3,997,980
0.34%, 11/01/16		18,000		18,004,914
PepsiCo Inc.
0.44%, 07/30/15^c		12,000		12,022,272
0.45%, 02/26/16		9,200		9,200,138
SABMiller Holdings Inc.
0.93%, 08/01/18^b		7,000		7,033,936

				69,263,677
CAPITAL MARKETS — 9.82%
Bank of New York Mellon Corp. (The)
0.47%, 10/23/15		16,731		16,742,293
0.47%, 03/04/16		3,000		2,995,668
0.51%, 07/28/14		2,950		2,952,496
0.80%, 08/01/18		3,000		3,007,941
Series 1
0.68%, 03/06/18		2,000		1,999,268
Bear Stearns Companies Inc. (The)/J.P. Morgan Chase & Co.
0.63%, 11/21/16		22,500		22,369,635
European Investment Bank
0.64%, 02/03/14^b		8,000		8,000,000
Goldman Sachs Group Inc. (The)
0.70%, 03/22/16		31,465		31,334,231
0.74%, 01/12/15^c		6,000		6,000,354
0.85%, 09/29/14		15,510		15,541,253


Security	Principal (000s)		Value

1.24%, 02/07/14	$	24,175	$	24,176,040
1.24%, 11/21/14		15,000		15,071,805
1.34%, 11/15/18^c		16,850		16,888,991
1.44%, 04/30/18^c		45,000		45,486,900
Series B
0.64%, 07/22/15^c		17,925		17,913,367
International Finance Corp.
0.16%, 01/28/15		15,258		15,255,452
0.16%, 08/27/15		10,000		10,002,760
0.19%, 08/01/16		15,000		15,000,159
Morgan Stanley
0.69%, 10/18/16		28,600		28,427,084
0.72%, 10/15/15		29,754		29,721,449
1.09%, 01/24/19		5,000		4,966,335
1.49%, 02/25/16		7,000		7,094,269
1.52%, 04/25/18		14,031		14,251,820
Nomura Holdings Inc.
1.69%, 09/13/16		7,000		7,122,570

				362,322,140
CHEMICALS — 0.22%
E.I. du Pont de Nemours and Co.
0.67%, 03/25/14		7,975		7,979,905

				7,979,905
COMMERCIAL BANKS — 33.26%
Abbey National Treasury Services PLC
1.82%, 04/25/14		14,800		14,846,176
ABN AMRO Bank NV
1.04%, 10/28/16^b		15,000		15,061,635
African Development Bank
0.57%, 08/04/14		2,990		2,993,860
American Express Centurion Bank
0.69%, 11/13/15		3,975		3,987,688
Australia and New Zealand Banking Group Ltd.
0.44%, 05/07/15^b		17,000		17,012,920
0.62%, 01/10/17^b		5,000		4,997,125
0.80%, 05/15/18		13,000		13,005,577
Bank of America N.A.
0.52%, 06/15/16		7,150		7,080,009
0.54%, 06/15/17		8,525		8,343,008
0.71%, 11/14/16		25,000		25,082,525
Bank of Montreal
0.50%, 09/24/15^c		21,900		21,925,404
0.71%, 04/29/14		8,500		8,509,571
0.71%, 09/11/15		7,000		7,033,495
0.76%, 07/15/16		6,000		6,029,502
0.84%, 04/09/18		8,500		8,556,602
Bank of Nova Scotia
0.64%, 03/15/16		7,000		7,013,545
0.66%, 12/13/16		8,000		8,018,136
0.70%, 09/11/15		6,500		6,526,826
0.76%, 07/15/16		5,500		5,523,040
1.28%, 01/12/15		2,500		2,524,263
Bank of Tokyo-Mitsubishi UFJ Ltd. (The)
0.69%, 02/26/16^b		5,935		5,941,208
0.85%, 09/09/16^b,c		5,000		5,021,900
0.90%, 02/24/14^b		12,250		12,253,895
Bank of Tokyo-Mitsubishi UFJ Ltd. (The)
0.72%, 04/02/14		1,000		1,000,891


Security	Principal (000s)		Value

BB&T Corp.
0.94%, 04/28/14 (Call 03/28/14)	$	13,300	$	13,316,412
1.00%, 02/01/19 (Call 01/02/19)		3,000		2,994,156
1.10%, 06/15/18 (Call 05/15/18)		2,000		2,027,496
BNP Paribas SA
0.83%, 12/12/16		3,000		3,009,348
3.00%, 12/20/14		25,300		25,859,079
BPCE SA
1.49%, 04/25/16		18,000		18,233,442
1.99%, 02/07/14^b		8,200		8,200,738
Branch Banking & Trust Co.
0.56%, 09/13/16		8,000		7,940,880
Canadian Imperial Bank of Commerce
0.76%, 07/18/16		4,000		4,016,812
Commonwealth Bank of Australia
0.52%, 09/17/14^b		13,525		13,544,314
0.52%, 01/29/15^b		9,000		9,025,857
0.75%, 06/25/14^b,c		12,100		12,121,453
0.75%, 09/20/16^b		32,575		32,651,779
0.97%, 03/17/14^b		23,350		23,375,125
1.04%, 09/18/15^b		14,150		14,294,273
Credit Agricole SA
1.40%, 04/15/16^b		7,000		7,084,217
Danske Bank A/S
1.29%, 04/14/14^b,c		10,000		10,015,210
Dexia Credit Local SA
0.54%, 11/13/15^b		25,000		24,991,200
Fifth Third Bank
0.65%, 02/26/16 (Call 01/26/16)		6,000		6,009,954
HSBC Bank PLC
0.88%, 05/15/18^b,c		3,500		3,516,219
HSBC USA Inc.
1.13%, 09/24/18		10,000		10,122,790
ING Bank NV
1.19%, 03/07/16^b,c		14,000		14,122,262
1.64%, 06/09/14^b		8,500		8,535,760
1.89%, 09/25/15^b		10,500		10,722,694
Intesa Sanpaolo SpA
2.64%, 02/24/14^b		23,750		23,775,982
J.P. Morgan Chase Bank N.A.
0.49%, 07/30/15		13,000		13,011,544
Kookmin Bank
1.49%, 10/11/16^b		5,000		5,032,965
Manufacturers and Traders Trust Co.
0.54%, 03/07/16		6,000		5,987,736
National Australia Bank Ltd.
0.44%, 05/28/15^b		2,400		2,403,830
0.45%, 10/02/14^b		2,900		2,901,911
0.54%, 01/22/15^b		15,850		15,888,737
0.67%, 12/02/16^b,c		3,000		3,001,683
0.79%, 07/25/16		22,000		22,109,032
0.96%, 04/11/14^b		11,250		11,263,871
1.19%, 07/25/14^b		22,250		22,358,380
1.37%, 08/07/15		9,850		9,997,819
1.39%, 02/14/14		250		250,095
National City Bank
0.61%, 06/07/17		6,550		6,479,398
Nordea Bank AB
0.70%, 05/13/16^b		13,000		13,038,285
PNC Bank N.A.
0.56%, 04/29/16 (Call 04/29/15)^d		9,000		9,004,896
Rabobank Nederland
0.59%, 04/14/14		5,900		5,904,714
0.72%, 03/18/16		12,850		12,912,515


Security	Principal (000s)		Value

Royal Bank of Canada
0.45%, 04/29/15	$	13,082	$	13,102,931
0.47%, 01/06/15		11,000		11,022,418
0.54%, 04/17/14		14,335		14,341,551
0.57%, 01/23/17		20,000		20,000,120
0.61%, 03/08/16		17,675		17,722,846
0.70%, 09/09/16		12,000		12,046,608
0.94%, 10/30/14		22,500		22,612,477
Societe Generale
1.29%, 04/11/14^b		16,200		16,227,232
SSIF Nevada LP
0.94%, 04/14/14^b		27,450		27,484,312
Standard Chartered PLC
1.19%, 05/12/14^b		8,850		8,872,320
Sumitomo Mitsui Banking Corp.
0.67%, 01/10/17		10,000		10,005,850
0.91%, 07/19/16		7,000		7,014,070
1.19%, 07/22/14^b		5,350		5,370,721
Sumitomo Mitsui Trust Bank Ltd.
1.02%, 09/16/16^b		8,750		8,813,499
SunTrust Bank
0.53%, 08/24/15		1,000		992,174
SunTrust Banks Inc.
0.70%, 02/15/17 (Call 01/15/17)		5,000		4,992,414
Svenska Handelsbanken AB
0.70%, 03/21/16^c		6,750		6,770,345
0.72%, 09/23/16		14,000		14,033,054
Toronto-Dominion Bank (The)
0.42%, 05/01/15		34,850		34,875,928
0.44%, 11/06/15		15,000		15,005,235
0.54%, 07/14/14		9,575		9,589,564
0.70%, 09/09/16		25,000		25,071,300
Series 1
0.79%, 04/30/18		7,000		7,015,295
U.S. Bancorp
0.73%, 11/15/18 (Call 10/15/18)^c		5,000		5,030,600
Union Bank N.A.
1.00%, 09/26/16		7,000		7,060,571
US Bank N.A.
0.47%, 01/30/17 (Call 12/30/16)		3,000		3,000,000
0.52%, 10/14/14		3,600		3,604,954
Wachovia Bank N.A./Wells Fargo & Co.
0.57%, 03/15/16^c		1,375		1,369,697
0.62%, 11/03/14		14,000		14,020,804
Wachovia Corp./Wells Fargo & Co.
0.51%, 06/15/17		30,150		30,001,210
0.58%, 10/28/15		6,250		6,249,500
0.61%, 10/15/16		27,560		27,453,370
Wells Fargo & Co.
0.44%, 10/28/15^c		32,450		32,382,407
0.77%, 07/20/16		17,450		17,536,482
0.87%, 04/23/18^c		19,000		19,120,042
1.17%, 06/26/15		8,000		8,090,376
Wells Fargo Bank N.A.
0.45%, 05/16/16		10,200		10,140,769
Westpac Banking Corp.
0.67%, 11/25/16		13,000		13,014,391
0.98%, 03/31/14^b		4,200		4,204,528
0.98%, 07/30/18		4,000		4,040,768
1.01%, 09/25/15		18,500		18,672,401

				1,227,318,798


Security	Principal (000s)		Value

COMMUNICATIONS EQUIPMENT — 0.33%
Cisco Systems Inc.
0.49%, 03/14/14	$	12,106	$	12,110,419

				12,110,419
COMPUTERS & PERIPHERALS — 1.62%
Apple Inc.
0.29%, 05/03/16^c		18,000		17,995,968
0.49%, 05/03/18		22,300		22,262,581
Dell Inc.
0.85%, 04/01/14		500		498,720
Hewlett-Packard Co.
0.64%, 05/30/14		3,856		3,858,877
1.18%, 01/14/19		10,000		9,995,260
1.79%, 09/19/14		5,000		5,036,830

				59,648,236
CONSUMER FINANCE — 6.45%
American Express Bank FSB
0.46%, 06/12/17^c		17,600		17,483,453
American Express Co.
0.83%, 05/22/18		8,700		8,700,539
American Express Credit Corp.
0.75%, 07/29/16		6,000		6,028,416
1.10%, 06/24/14^c		6,340		6,358,449
1.34%, 06/12/15		12,500		12,661,400
American Honda Finance Corp.
0.34%, 11/13/14^b,c		4,000		4,003,116
0.46%, 11/03/14^b		12,800		12,821,107
0.61%, 05/26/16^b		15,000		15,043,365
0.64%, 06/18/14^b		6,295		6,306,747
0.74%, 10/07/16^c		4,000		4,027,620
Banque PSA Finance SA
2.14%, 04/04/14^b		500		499,400
Caterpillar Financial Services Corp.
0.34%, 11/19/14		6,000		6,001,770
0.39%, 08/27/14		1,000		1,000,734
0.48%, 02/26/16		9,000		9,020,619
0.59%, 02/09/15		7,500		7,521,240
Ford Motor Credit Co. LLC
1.02%, 01/17/17		5,000		5,026,225
1.49%, 05/09/16		8,000		8,130,840
HSBC Finance Corp.
0.67%, 06/01/16^c		15,750		15,725,225
John Deere Capital Corp.
0.31%, 01/12/15		11,795		11,802,124
0.34%, 10/08/14		500		500,433
0.36%, 06/15/15		9,180		9,189,198
0.36%, 12/10/15		5,000		4,997,255
0.39%, 04/25/14		3,250		3,252,483
0.41%, 06/16/14		3,850		3,852,079
0.53%, 10/11/16		2,000		2,003,778
0.78%, 09/22/14		8,700		8,730,555
Toyota Motor Credit Corp.
0.32%, 08/22/14		4,000		4,000,756
0.39%, 03/10/15		12,696		12,711,870
0.39%, 04/08/15^c		6,000		6,007,512
0.39%, 09/18/15		3,000		3,000,531
0.39%, 10/07/15		3,000		3,001,014
0.41%, 11/21/14		2,000		2,002,922


Security	Principal (000s)		Value

0.41%, 01/23/15	$	9,500	$	9,515,970
0.53%, 05/17/16		7,000		7,022,330

				237,951,075
DIVERSIFIED FINANCIAL SERVICES — 17.18%
Bank of America Corp.
0.50%, 10/14/16^c		14,750		14,617,530
0.57%, 08/15/16		1,300		1,284,787
1.07%, 03/22/16		8,025		8,071,176
1.28%, 01/15/19^c		10,000		10,076,920
1.32%, 03/22/18		17,000		17,220,847
1.79%, 07/11/14		3,910		3,931,912
Series C
0.70%, 01/15/15		1,000		1,001,301
Banque Federative du Credit Mutuel SA
1.09%, 10/28/16^b		3,500		3,510,385
1.09%, 01/20/17^b		12,000		11,996,580
BBVA U.S. Senior SA Unipersonal
2.36%, 05/16/14		7,700		7,735,743
BP Capital Markets PLC
0.57%, 11/06/15		5,000		5,007,850
0.66%, 11/07/16		5,000		5,028,740
0.75%, 05/10/18		3,400		3,402,873
0.84%, 03/11/14		2,975		2,976,726
0.88%, 09/26/18		13,000		13,071,331
Citigroup Inc.
0.37%, 03/07/14		14,150		14,148,726
0.51%, 06/09/16		25,390		24,963,397
0.52%, 11/05/14		29,500		29,484,571
0.92%, 11/15/16		17,000		17,087,550
1.04%, 04/01/16		8,000		8,050,056
1.18%, 04/01/14^c		8,000		8,010,152
1.20%, 07/25/16		7,550		7,635,391
Daimler Finance North America LLC
0.84%, 01/09/15^b		11,000		11,039,468
0.86%, 03/28/14^b,c		7,400		7,406,482
0.92%, 08/01/16^b		7,000		7,037,968
1.02%, 04/10/14^b		6,500		6,510,238
General Electric Capital Corp.
0.41%, 02/15/17^c		240		238,215
0.44%, 01/08/16^c		7,500		7,494,945
0.44%, 05/11/16		8,792		8,782,496
0.47%, 01/14/16		10,000		10,005,850
0.51%, 08/07/18		2,000		1,966,494
0.62%, 01/09/15		7,500		7,528,088
0.62%, 07/10/15		8,000		8,027,872
0.84%, 12/11/15		18,600		18,741,844
0.84%, 01/08/16		14,750		14,859,238
0.87%, 04/07/14		10,900		10,906,289
0.87%, 06/02/14		1,000		1,002,244
0.89%, 07/12/16^c		23,000		23,212,888
0.94%, 04/24/14^c		10,500		10,516,117
0.96%, 04/02/18		3,000		3,029,682
1.00%, 01/14/19		10,000		10,004,900
1.11%, 05/09/16		1,750		1,773,202
1.28%, 07/02/15^c		8,500		8,604,797
Series A
0.50%, 09/15/14		26,300		26,338,135
International Bank for Reconstruction and Development
0.16%, 01/14/15		27,400		27,413,426
0.16%, 08/07/15		5,000		5,001,480


Security	Principal (000s)		Value

J.P. Morgan Chase & Co.
0.69%, 04/23/15	$	18,800	$	18,849,613
0.86%, 02/26/16		33,700		33,838,709
0.87%, 01/28/19		15,000		14,941,785
0.90%, 10/15/15		12,900		12,969,544
0.99%, 05/02/14		32,500		32,555,737
1.14%, 01/25/18		28,862		29,203,957
1.30%, 03/20/15		5,600		5,655,451
Volkswagen International Finance NV
0.84%, 11/20/14^b		7,000		7,024,997
0.86%, 04/01/14^b		7,350		7,355,072
1.00%, 03/21/14^b		15,650		15,663,146

				633,814,913
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.35%
AT&T Inc.
0.62%, 02/12/16		16,625		16,613,529
Verizon Communications Inc.
0.44%, 03/06/15^b		5,500		5,495,446
0.86%, 03/28/14		6,700		6,705,735
1.77%, 09/15/16		35,800		36,856,673
1.99%, 09/14/18		20,000		20,927,940

				86,599,323
ELECTRIC UTILITIES — 0.08%
Georgia Power Co.
0.56%, 03/15/16 (Call 03/15/14)		3,000		3,000,141

				3,000,141
ELECTRICAL EQUIPMENT — 0.19%
Eaton Corp.
0.57%, 06/16/14		7,000		7,007,189

				7,007,189
FOOD & STAPLES RETAILING — 0.39%
Kroger Co. (The)
0.80%, 10/17/16		7,000		7,014,994
Walgreen Co.
0.74%, 03/13/14		7,300		7,300,474

				14,315,468
FOOD PRODUCTS — 0.50%
Campbell Soup Co.
0.54%, 08/01/14		4,300		4,303,569
General Mills Inc.
0.44%, 01/28/16		5,000		5,001,020
0.54%, 01/29/16		1,500		1,500,591
0.59%, 05/16/14		5,700		5,704,241
Kellogg Co.
0.47%, 02/13/15		2,000		2,002,066

				18,511,487
HEALTH CARE EQUIPMENT & SUPPLIES — 0.24%
Baxter International Inc.
0.41%, 12/11/14		8,900		8,911,623

				8,911,623


Security	Principal (000s)		Value

HEALTH CARE PROVIDERS & SERVICES — 0.27%
International Finance Facility for Immunisation
0.43%, 07/05/16^b	$	10,000	$	10,000,104

				10,000,104
HOUSEHOLD PRODUCTS — 0.70%
Procter & Gamble Co. (The)
0.14%, 02/14/14		4,500		4,500,139
0.16%, 02/06/14		5,400		5,400,022
0.32%, 11/04/16		15,900		15,891,303

				25,791,464
INSURANCE — 2.99%
Berkshire Hathaway Finance Corp.
0.39%, 01/10/17		7,000		6,995,961
Berkshire Hathaway Inc.
0.94%, 08/15/14		8,703		8,736,124
Jackson National Life Global Funding
0.60%, 09/30/15^b		4,750		4,765,665
MetLife Global Funding I
0.59%, 03/19/14^b		9,020		9,024,763
0.77%, 07/15/16^b		3,000		3,016,209
MetLife Inc.
0.61%, 01/06/15^b		8,500		8,526,086
MetLife Institutional Funding II
1.14%, 04/04/14^b		14,750		14,772,597
New York Life Global Funding
0.28%, 09/19/14^b		13,450		13,454,156
0.36%, 06/18/14^b		7,510		7,514,491
0.50%, 04/04/14^b		4,350		4,352,680
0.59%, 05/23/16^b		4,500		4,517,725
Principal Life Global Funding II
0.40%, 09/19/14^b		5,500		5,504,048
0.61%, 05/27/16^b		1,000		1,001,631
0.87%, 07/09/14^b		8,000		8,021,360
Prudential Financial Inc.
1.02%, 08/15/18		10,000		10,035,480

				110,238,976
IT SERVICES — 0.68%
IBM International Group Capital LLC
0.27%, 07/29/15		5,000		4,999,260
International Business Machines Corp.
0.22%, 02/04/15		20,000		20,000,080

				24,999,340
MEDIA — 0.84%
NBCUniversal Enterprise Inc.
0.78%, 04/15/16^b		8,000		8,034,864
0.92%, 04/15/18^b		11,900		11,917,933
Walt Disney Co. (The)
0.23%, 02/11/15		11,100		11,097,891

				31,050,688
METALS & MINING — 0.87%
BHP Billiton Finance (USA) Ltd.
0.50%, 09/30/16		17,900		17,928,676
0.51%, 02/18/14		4,250		4,250,433


Security	Principal (000s)		Value

Glencore Funding LLC
1.40%, 05/27/16^b	$	4,000	$	3,988,268
Rio Tinto Finance (USA) PLC
1.08%, 06/17/16^c		6,000		6,053,712

				32,221,089
MULTI-UTILITIES — 0.02%
Sempra Energy
1.00%, 03/15/14		650		650,527

				650,527
MULTILINE RETAIL — 0.27%
Target Corp.
0.41%, 07/18/14		9,850		9,856,353

				9,856,353
OFFICE ELECTRONICS — 0.01%
Xerox Corp.
1.06%, 05/16/14		500		500,733

				500,733
OIL, GAS & CONSUMABLE FUELS — 1.30%
Devon Energy Corp.
0.78%, 12/15/16		9,000		9,010,215
EOG Resources Inc.
0.99%, 02/03/14		140		140,000
Schlumberger Investment SA
0.79%, 09/12/14^b		2,950		2,959,387
Shell International Finance BV
0.31%, 11/10/15		3,000		3,001,059
0.45%, 11/15/16		16,352		16,356,530
Total Capital Canada Ltd.
0.62%, 01/15/16		10,550		10,598,308
Total Capital International SA
0.81%, 08/10/18		6,000		6,032,010

				48,097,509
PHARMACEUTICALS — 1.57%
AbbVie Inc.
1.00%, 11/06/15^c		9,400		9,490,221
Johnson & Johnson
0.33%, 05/15/14		6,600		6,600,799
Merck & Co. Inc.
0.43%, 05/18/16		9,900		9,920,008
0.60%, 05/18/18		11,000		10,995,501
Pfizer Inc.
0.54%, 06/15/18		9,000		9,023,589
Sanofi
0.56%, 03/28/14		3,506		3,507,539
Teva Pharmaceutical Finance III BV
0.75%, 03/21/14		8,293		8,298,523

				57,836,180


Security	Principal (000s)		Value

TOBACCO — 0.19%
Philip Morris International Inc.
0.29%, 02/26/15	$	7,000	$	7,002,520

				7,002,520
WIRELESS TELECOMMUNICATION SERVICES — 0.49%
America Movil SAB de CV
1.24%, 09/12/16		9,849		9,947,904
Vodafone Group PLC
0.62%, 02/19/16		8,200		8,191,062

				18,138,966

TOTAL CORPORATE BONDS & NOTES
(Cost: $3,152,328,181)				3,159,291,350

FOREIGN AGENCY OBLIGATIONS^a,e — 14.57%

CANADA — 0.45%
Ontario (Province of)
0.29%, 08/13/15		14,400		14,391,302
0.40%, 04/01/15		2,000		2,001,386

				16,392,688
FRANCE — 0.14%
Electricite de France
0.69%, 01/20/17^b		5,000		5,003,000

				5,003,000
GERMANY — 2.24%
KfW
0.12%, 10/30/14		10,000		9,998,200
0.21%, 01/23/15		24,000		23,998,296
0.22%, 07/09/15^c		5,000		4,999,305
0.24%, 03/17/14		14,000		14,001,022
0.31%, 03/13/15		23,500		23,518,847
Landwirtschaftliche Rentenbank
0.44%, 03/15/16^b		6,000		6,019,404

				82,535,074
JAPAN — 0.12%
Japan Bank for International Cooperation
0.60%, 11/13/18		4,500		4,506,354

				4,506,354
MEXICO — 0.22%
Petroleos Mexicanos
2.26%, 07/18/18		8,000		8,240,000

				8,240,000
NETHERLANDS — 2.81%
Achmea Hypotheekbank NV
0.59%, 11/03/14^b		8,000		8,015,456
Bank Nederlandse Gemeenten
0.29%, 05/07/15^b		10,000		9,998,000
0.41%, 07/18/16^b		12,000		12,007,752


Security	Principal (000s)		Value

Nederlandse Waterschapsbank NV
0.29%, 10/27/14^b	$	33,000	$	33,025,641
0.33%, 11/04/15^b		12,000		12,004,176
0.44%, 10/18/16^b		17,000		17,000,102
Petrobras Global Finance BV
1.86%, 05/20/16		8,000		7,890,000
2.38%, 01/15/19^c		3,981		3,871,523

				103,812,650
NORWAY — 3.53%
Kommunalbanken AS
0.26%, 01/26/15^b		22,500		22,493,925
0.32%, 03/18/16^b		18,900		18,900,964
0.36%, 03/10/14^b		2,000		2,000,472
0.37%, 10/31/16^b		11,500		11,500,000
0.42%, 02/20/18^b		18,200		18,178,160
0.45%, 04/01/15^b		6,500		6,513,617
0.63%, 03/27/17^b		32,500		32,734,390
Statoil ASA
0.53%, 05/15/18		8,000		7,993,336
0.70%, 11/08/18		10,000		10,060,990

				130,375,854
SOUTH KOREA — 0.14%
Korea Development Bank (The)
0.86%, 01/22/17		5,000		5,001,500

				5,001,500
SUPRANATIONAL — 3.09%
Asian Development Bank
0.16%, 05/29/15		19,000		18,990,044
0.17%, 05/13/16		5,000		4,997,745
Inter-American Development Bank
0.16%, 07/29/15		25,800		25,784,985
0.20%, 02/11/16		29,000		28,993,707
0.22%, 10/15/15		9,600		9,594,518
0.23%, 12/12/16		9,000		9,008,748
0.27%, 09/12/18		7,000		6,993,693
0.69%, 05/20/14		9,700		9,712,154

				114,075,594
SWEDEN — 1.83%
Kommuninvest I Sverige AB
0.23%, 09/12/14^b		10,000		9,998,184
0.24%, 06/22/15^b		15,000		14,998,020
0.27%, 03/26/15^b		7,500		7,498,747
Svensk Exportkredit AB
0.42%, 06/12/17		15,800		15,826,813
0.54%, 01/23/17		16,100		16,182,915
0.99%, 08/14/14		3,100		3,111,219

				67,615,898

TOTAL FOREIGN AGENCY OBLIGATIONS
(Cost: $537,902,818)				537,558,612


Security	Shares (000s)		Value

SHORT-TERM INVESTMENTS — 1.92%

MONEY MARKET FUNDS — 1.92%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^d,f,g	$	45,508	$	45,507,943
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^d,f,g		3,913		3,912,967
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^d,f		21,511		21,511,011

				70,931,921

TOTAL SHORT-TERM INVESTMENTS
(Cost: $70,931,921)				70,931,921


TOTAL INVESTMENTS IN SECURITIES — 102.12%
(Cost: $3,761,162,920)				3,767,781,883
Other Assets, Less Liabilities — (2.12)%				(78,313,746	)

NET ASSETS — 100.00%			$	3,689,468,137

^a	Variable rate security. Rate shown is as of report date.

^b	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^c	All or a portion of this security represents a security on loan. See Note 1.

^d	Affiliated issuer. See Note 2.

^e	Investments are denominated in U.S. dollars.

^f	The rate quoted is the annualized seven-day yield of the fund at period end.

^g	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)				Value

FOREIGN GOVERNMENT INFLATION-INDEXED BONDS & NOTES — 62.33%

AUSTRALIA — 0.84%
Australia (Commonwealth of)
2.50%, 09/20/30^a		AUD	$	10	$	10,308
3.00%, 09/20/25^a		AUD		56		62,419
4.00%, 08/20/15		AUD		5		7,791
4.00%, 08/20/20		AUD		80		128,501

						209,019
BRAZIL — 8.54%
Brazil (Federative Republic of)
6.00%, 08/15/14		BRL		16		15,736
6.00%, 05/15/15		BRL		494		486,212
6.00%, 08/15/16		BRL		100		96,846
6.00%, 05/15/17		BRL		100		96,209
6.00%, 08/15/18		BRL		270		256,650
6.00%, 08/15/20		BRL		306		286,927
6.00%, 08/15/22		BRL		106		98,056
6.00%, 05/15/35		BRL		254		222,366
6.00%, 08/15/40		BRL		481		415,308
6.00%, 08/15/50		BRL		170		144,625

						2,118,935
CANADA — 1.92%
Canada (Government of)
1.50%, 12/01/44		CAD		21		21,583
2.00%, 12/01/41		CAD		169		189,149
4.00%, 12/01/31		CAD		27		36,795
4.25%, 12/01/26		CAD		176		228,836

						476,363
CHILE — 1.23%
Chile (Republic of)
3.00%, 05/01/28		CLP		23,436		46,394
4.50%, 10/15/23		CLP		117,179		259,668

						306,062
COLOMBIA — 0.61%
Colombia (Republic of)
3.50%, 03/10/21		COP		311,843		152,240

						152,240
FRANCE — 9.11%
France (Republic of)
0.10%, 07/25/21		EUR		1		1,343
0.25%, 07/25/18		EUR		1		1,430
0.25%, 07/25/24		EUR		20		26,224
0.45%, 07/25/16		EUR		419		582,789
1.00%, 07/25/17		EUR		1		1,607
1.10%, 07/25/22		EUR		411		587,747
1.30%, 07/25/19		EUR		11		15,504
1.60%, 07/25/15		EUR		60		83,176


Security	Principal (000s)			Value

1.80%, 07/25/40		EUR	17	$	26,842
1.85%, 07/25/27		EUR	1		1,623
2.10%, 07/25/23		EUR	108		166,970
2.25%, 07/25/20		EUR	61		93,596
3.15%, 07/25/32		EUR	309		569,865
3.40%, 07/25/29		EUR	55		102,789

					2,261,505
GERMANY — 2.86%
Germany (Federal Republic of)
0.10%, 04/15/23		EUR	67		90,003
0.75%, 04/15/18		EUR	132		186,855
1.50%, 04/15/16		EUR	79		110,401
1.75%, 04/15/20		EUR	213		321,338

					708,597
ISRAEL — 1.93%
Israel (State of)
1.50%, 06/30/14		ILS	90		29,255
2.75%, 09/30/22		ILS	200		66,168
3.50%, 04/30/18		ILS	578		223,050
4.00%, 05/30/36		ILS	272		119,880
5.00%, 04/30/15		ILS	100		40,570

					478,923
ITALY — 6.46%
Italy (Republic of)
2.10%, 09/15/17^a		EUR	492		683,438
2.10%, 09/15/21^a		EUR	76		101,078
2.15%, 09/15/14^a		EUR	58		79,786
2.35%, 09/15/19^a		EUR	231		321,673
2.35%, 09/15/35^a		EUR	163		205,811
2.55%, 09/15/41^a		EUR	53		64,488
3.10%, 09/15/26^a		EUR	105		145,960

					1,602,234
JAPAN — 0.78%
Japan (Government of)
0.10%, 09/10/23		JPY	302		3,163
1.10%, 09/10/16		JPY	8,634		93,540
1.20%, 12/10/17		JPY	8,726		97,298

					194,001
MEXICO — 2.23%
United Mexican States
2.50%, 12/10/20		MXN	3,076		231,851
4.00%, 11/15/40		MXN	1,531		114,377
4.50%, 12/18/14		MXN	1,275		98,938
4.50%, 12/04/25		MXN	459		41,252
4.50%, 11/22/35		MXN	842		67,910

					554,328
NEW ZEALAND — 0.16%
New Zealand (Government of)
2.00%, 09/20/25		NZD	32		24,733
4.50%, 02/15/16		NZD	12		15,211

					39,944


Security	Principal (000s)			Value

POLAND — 0.31%
Poland (Republic of)
2.75%, 08/25/23		PLN	46	$	15,260
3.00%, 08/24/16		PLN	187		61,931

					77,191
SOUTH AFRICA — 0.87%
South Africa (Republic of)
2.50%, 01/31/17		ZAR	26		2,461
2.60%, 03/31/28		ZAR	112		10,031
3.45%, 12/07/33		ZAR	1,023		103,944
5.50%, 12/07/23		ZAR	869		98,602

					215,038
SOUTH KOREA — 0.27%
Korea (Republic of)
2.75%, 06/10/20		KRW	68,611		67,742

					67,742
SWEDEN — 1.21%
Sweden (Kingdom of)
0.25%, 06/01/22		SEK	120		17,872
3.50%, 12/01/15		SEK	800		159,495
3.50%, 12/01/28		SEK	485		123,410

					300,777
THAILAND — 0.12%
Thailand (Kingdom of)
1.20%, 07/14/21^a		THB	1,058		29,538

					29,538
TURKEY — 1.57%
Turkey (Republic of)
2.00%, 10/26/22		TRY	185		72,185
3.00%, 02/23/22		TRY	62		26,504
3.00%, 08/02/23		TRY	52		21,899
4.00%, 04/01/20		TRY	174		78,759
7.00%, 10/01/14		TRY	279		125,229
9.00%, 05/21/14		TRY	141		63,486

					388,062
UNITED KINGDOM — 21.31%
United Kingdom
0.13%, 11/22/19^a		GBP	161		282,025
0.13%, 03/22/24^a		GBP	263		445,670
0.13%, 03/22/29^a		GBP	1		1,767
0.13%, 03/22/44^a		GBP	165		276,504
0.13%, 03/22/68^a		GBP	57		100,595
0.25%, 03/22/52^a		GBP	1		1,843
0.38%, 03/22/62^a		GBP	112		216,764
0.50%, 03/22/50^a		GBP	166		318,651
0.63%, 03/22/40^a		GBP	179		337,009
0.63%, 11/22/42^a		GBP	95		182,316


Security	Principal or Shares (000s)			Value

0.75%, 03/22/34^a		GBP	148	$	276,121
0.75%, 11/22/47^a		GBP	40		81,623
1.13%, 11/22/37^a		GBP	122		251,256
1.25%, 11/22/17^a		GBP	234		426,384
1.25%, 11/22/27^a		GBP	221		429,694
1.25%, 11/22/32^a		GBP	138		279,691
1.25%, 11/22/55^a		GBP	151		377,420
1.88%, 11/22/22^a		GBP	132		262,736
2.00%, 01/26/35^a		GBP	19		61,872
2.50%, 07/26/16^a		GBP	21		117,461
2.50%, 04/16/20^a		GBP	1		5,962
2.50%, 07/17/24^a		GBP	14		74,983
4.13%, 07/22/30^a		GBP	95		480,248

					5,288,595

TOTAL FOREIGN GOVERNMENT INFLATION-INDEXED BONDS & NOTES
(Cost: $16,590,487)					15,469,094

U.S. GOVERNMENT OBLIGATIONS — 35.52%
U.S. Treasury Inflation-Indexed Bonds
0.13%, 04/15/18		USD	447		461,063
0.13%, 07/15/22		USD	252		248,034
0.13%, 01/15/23		USD	586		569,761
0.38%, 07/15/23		USD	250		249,101
0.63%, 02/15/43^b		USD	142		117,449
0.75%, 02/15/42		USD	248		213,411
1.13%, 01/15/21		USD	1,309		1,404,777
1.38%, 07/15/18^b		USD	289		316,604
1.38%, 01/15/20		USD	253		276,967
1.63%, 01/15/18^b		USD	846		928,357
1.88%, 07/15/15^b		USD	210		221,043
2.00%, 07/15/14^b		USD	296		302,226
2.00%, 01/15/16		USD	1,214		1,296,063
2.00%, 01/15/26		USD	500		572,952
2.13%, 02/15/41		USD	368		438,827
2.38%, 01/15/27		USD	58		68,851
3.88%, 04/15/29		USD	797		1,129,557

TOTAL U.S. GOVERNMENT OBLIGATIONS
(Cost: $8,884,973)					8,815,043

SHORT-TERM INVESTMENTS — 4.19%

MONEY MARKET FUNDS — 4.19%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^c,d,e			901		900,530
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^c,d,e			77		77,431


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,d		61	$	61,050

				1,039,011

TOTAL SHORT-TERM INVESTMENTS
(Cost: $1,039,011)				1,039,011


TOTAL INVESTMENTS IN SECURITIES — 102.04%
(Cost: $26,514,471)				25,323,148
Other Assets, Less Liabilities — (2.04)%				(504,720	)

NET ASSETS — 100.00%			$	24,818,428

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

CLP — Chilean Peso

COP — Colombian Peso

EUR — Euro

GBP — British Pound

ILS — Israeli Shekel

JPY — Japanese Yen

KRW — South Korean Won

MXN — Mexican Peso

NZD — New Zealand Dollar

PLN — Polish Zloty

SEK — Swedish Krona

THB — Thai Baht

TRY — Turkish Lira

USD — United States Dollar

ZAR — South African Rand

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

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	Affiliated issuer. See Note 2.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

^e	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

U.S. GOVERNMENT AGENCY OBLIGATIONS — 99.69%

MORTGAGE-BACKED SECURITIES — 99.69%
Government National Mortgage Association
2.50%, 01/15/28	$	24	$	23,994
2.50%, 02/20/28		46		46,775
2.50%, 02/01/44^a		60		56,841
3.00%, 07/15/27		45		46,531
3.00%, 09/15/27		47		49,127
3.00%, 12/20/27		176		182,924
3.00%, 09/15/42		22		22,116
3.00%, 10/15/42		42		41,878
3.00%, 12/15/42		181		179,628
3.00%, 12/20/42		946		938,917
3.00%, 01/15/43		102		101,595
3.00%, 06/20/43		2,322		2,305,292
3.00%, 02/01/44^a		2,120		2,099,462
3.50%, 02/15/26		32		33,679
3.50%, 11/15/26		20		21,451
3.50%, 02/20/27		58		61,049
3.50%, 08/15/42		70		72,587
3.50%, 09/15/42		105		108,725
3.50%, 09/20/42		1,468		1,514,866
3.50%, 10/15/42		37		38,200
3.50%, 10/20/42		856		882,804
3.50%, 11/20/42		347		358,337
3.50%, 01/15/43		461		475,196
3.50%, 03/15/43		121		124,611
3.50%, 04/20/43		753		777,283
3.50%, 05/15/43		83		85,330
3.50%, 02/01/44^a		2,403		2,473,733
4.00%, 03/20/26		22		24,079
4.00%, 07/20/26		19		20,281
4.00%, 02/15/41		41		43,595
4.00%, 03/15/41		42		44,792
4.00%, 04/15/41		198		211,043
4.00%, 05/15/41		34		35,644
4.00%, 12/15/41		62		66,155
4.00%, 01/15/42		37		39,729
4.00%, 02/15/42		134		142,360
4.00%, 03/15/42		245		260,948
4.00%, 05/15/42		47		49,604
4.00%, 08/15/42		65		69,247
4.00%, 09/20/42		1,269		1,346,531
4.00%, 02/01/44^a		2,450		2,598,408
4.50%, 04/15/24		40		43,276
4.50%, 07/20/24		22		23,337
4.50%, 08/15/39		956		1,038,058
4.50%, 07/15/40		387		420,468
4.50%, 08/15/40		419		454,461
4.50%, 02/01/44^a		3,267		3,543,756
5.00%, 07/15/39		193		212,352
5.00%, 07/20/42		969		1,063,683
5.00%, 02/01/44^a		2,147		2,353,458
5.50%, 10/15/38		164		182,001
5.50%, 07/20/40		1,536		1,696,027
6.00%, 09/20/38		177		199,009

				29,305,233


Security	Shares (000s)		Value

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS (Cost: $29,542,323)			$	29,305,233

SHORT-TERM INVESTMENTS — 44.41%

MONEY MARKET FUNDS — 44.41%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		13,055		13,054,612

				13,054,612

TOTAL SHORT-TERM INVESTMENTS (Cost: $13,054,612)				13,054,612


TOTAL INVESTMENTS IN SECURITIES — 144.10% (Cost: $42,596,935)				42,359,845
Other Assets, Less Liabilities — (44.10)%				(12,964,197	)

NET ASSETS — 100.00%			$	29,395,648

a	To-be-announced (TBA). See Note 1.

b	Affiliated issuer. See Note 2.

c	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 97.09%

AEROSPACE & DEFENSE — 3.10%
Boeing Co. (The)
6.00%, 03/15/19	$	75	$	89,273
General Dynamics Corp.
1.00%, 11/15/17		50		48,844
Honeywell International Inc.
4.25%, 03/01/21		50		54,972
Lockheed Martin Corp.
3.35%, 09/15/21		25		25,441
4.07%, 12/15/42		25		22,992
Northrop Grumman Corp.
3.25%, 08/01/23		38		36,293
3.50%, 03/15/21		19		19,338
Raytheon Co.
3.13%, 10/15/20		38		38,807
United Technologies Corp.
1.80%, 06/01/17		38		38,816
4.50%, 06/01/42		38		38,280
5.70%, 04/15/40		38		45,147

				458,203
AIR FREIGHT & LOGISTICS — 0.73%
FedEx Corp.
4.10%, 04/15/43		25		22,180
United Parcel Service Inc.
5.13%, 04/01/19		75		85,913

				108,093
AIRLINES — 0.34%
Delta Air Lines Inc. 2012-1A Pass Through Trust Class A
4.75%, 11/07/21		46		50,100

				50,100
AUTO COMPONENTS — 0.42%
Johnson Controls Inc.
5.50%, 01/15/16		57		61,767

				61,767
AUTOMOBILES — 0.16%
Ford Motor Co.
7.45%, 07/16/31		19		23,856

				23,856
BEVERAGES — 3.31%
Anheuser-Busch InBev Finance Inc.
1.25%, 01/17/18		38		37,527
Anheuser-Busch InBev Worldwide Inc.
2.50%, 07/15/22		38		35,885
3.75%, 07/15/42		38		33,542
8.20%, 01/15/39		38		57,468


Security	Principal (000s)		Value

Coca-Cola Co. (The)
3.20%, 11/01/23	$	50	$	49,060
3.30%, 09/01/21		38		39,085
Diageo Capital PLC
4.83%, 07/15/20		75		84,419
PepsiCo Inc.
2.50%, 05/10/16		113		117,395
4.00%, 03/05/42		38		34,683

				489,064
BIOTECHNOLOGY — 1.38%
Amgen Inc.
5.15%, 11/15/41 (Call 05/15/41)		75		77,299
5.85%, 06/01/17		75		85,747
Gilead Sciences Inc.
4.40%, 12/01/21 (Call 09/01/21)		38		41,134

				204,180
CHEMICALS — 2.82%
Agrium Inc.
3.15%, 10/01/22 (Call 07/01/22)		38		35,419
Airgas Inc.
2.38%, 02/15/20 (Call 01/15/20)		19		18,252
CF Industries Holdings Inc.
6.88%, 05/01/18		38		44,269
Dow Chemical Co. (The)
4.38%, 11/15/42 (Call 05/15/42)		57		51,481
8.55%, 05/15/19		19		24,459
E.I. du Pont de Nemours and Co.
2.80%, 02/15/23		19		17,825
6.00%, 07/15/18		75		87,779
Eastman Chemical Co.
4.80%, 09/01/42 (Call 03/01/42)^a		19		18,330
Ecolab Inc.
5.50%, 12/08/41		38		41,913
Mosaic Co. (The)
4.25%, 11/15/23 (Call 08/15/23)		25		24,984
Praxair Inc.
2.20%, 08/15/22 (Call 05/15/22)		57		52,254

				416,965
COMMERCIAL SERVICES & SUPPLIES — 0.64%
Republic Services Inc.
5.00%, 03/01/20		44		48,898
Waste Management Inc.
6.13%, 11/30/39		38		45,574

				94,472
COMMUNICATIONS EQUIPMENT — 0.76%
Cisco Systems Inc.
5.50%, 01/15/40		19		20,653
5.90%, 02/15/39		38		43,246
Motorola Solutions Inc.
3.50%, 03/01/23		25		23,656
Telefonaktiebolaget LM Ericsson
4.13%, 05/15/22		25		24,924

				112,479


Security	Principal (000s)		Value

COMPUTERS & PERIPHERALS — 1.41%
Apple Inc.
2.40%, 05/03/23	$	75	$	68,422
EMC Corp.
3.38%, 06/01/23 (Call 03/01/23)		38		37,510
Hewlett-Packard Co.
4.30%, 06/01/21		75		76,232
4.65%, 12/09/21		25		25,986

				208,150
CONSTRUCTION MATERIALS — 0.38%
CRH America Inc.
6.00%, 09/30/16		50		55,836

				55,836
CONSUMER FINANCE — 4.51%
Caterpillar Financial Services Corp.
7.15%, 02/15/19		100		122,602
Ford Motor Credit Co. LLC
3.98%, 06/15/16		100		106,099
7.00%, 04/15/15		100		107,407
8.13%, 01/15/20^a		100		126,170
John Deere Capital Corp.
1.25%, 12/02/14		75		75,558
Toyota Motor Credit Corp.
2.00%, 09/15/16		75		77,208
3.40%, 09/15/21		50		51,566

				666,610
DIVERSIFIED CONSUMER SERVICES — 0.66%
President and Fellows of Harvard College (The)
6.30%, 10/01/37 (Call 04/01/16)		75		83,512
Princeton University Series A
4.95%, 03/01/19		12		13,681

				97,193
DIVERSIFIED FINANCIAL SERVICES — 1.43%
BP Capital Markets PLC
1.38%, 11/06/17		75		74,571
4.74%, 03/11/21		75		82,813
Deutsche Telekom International Finance BV
8.75%, 06/15/30		38		53,673

				211,057
DIVERSIFIED TELECOMMUNICATION SERVICES — 9.16%
AT&T Inc.
2.40%, 08/15/16		125		128,924
3.00%, 02/15/22		38		35,992
3.88%, 08/15/21		38		38,765
4.35%, 06/15/45 (Call 12/15/44)		57		49,198
5.35%, 09/01/40		75		74,958
5.55%, 08/15/41		38		38,957
6.30%, 01/15/38		38		42,435
British Telecommunications PLC
9.63%, 12/15/30		38		57,447


Security	Principal (000s)		Value

Orange
2.75%, 09/14/16	$	57	$	59,103
8.75%, 03/01/31		13		18,655
Telefonica Emisiones SAU
3.99%, 02/16/16		49		51,535
5.46%, 02/16/21		88		95,052
Verizon Communications Inc.
2.00%, 11/01/16		113		115,493
2.50%, 09/15/16		100		103,524
5.15%, 09/15/23		100		108,622
6.40%, 09/15/33		150		175,771
6.40%, 02/15/38		38		44,079
7.75%, 12/01/30		88		115,032

				1,353,542
ELECTRICAL EQUIPMENT — 1.15%
ABB Finance (USA) Inc.
4.38%, 05/08/42		57		54,861
Eaton Corp.
2.75%, 11/02/22		113		107,327
Roper Industries Inc.
3.13%, 11/15/22 (Call 08/15/22)		8		7,560

				169,748
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.30%
Amphenol Corp.
4.00%, 02/01/22 (Call 11/01/21)		25		25,103
Corning Inc.
4.75%, 03/15/42		19		19,285

				44,388
ENERGY EQUIPMENT & SERVICES — 2.57%
Ensco PLC
4.70%, 03/15/21		75		80,539
Halliburton Co.
7.45%, 09/15/39		19		26,470
National Oilwell Varco Inc.
2.60%, 12/01/22 (Call 09/01/22)		38		35,785
Noble Holding International Ltd.
5.25%, 03/15/42^a		38		36,522
Transocean Inc.
6.38%, 12/15/21		75		83,662
Weatherford International Ltd.
4.50%, 04/15/22 (Call 01/15/22)^a		19		19,218
9.63%, 03/01/19		75		97,090

				379,286
FOOD & STAPLES RETAILING — 3.11%
CVS Caremark Corp.
5.75%, 06/01/17		75		85,214
6.13%, 09/15/39		38		44,976
Delhaize Brothers and Co. “The Lion” (Delhaize Group)
4.13%, 04/10/19		38		39,695
Kroger Co. (The)
6.15%, 01/15/20		75		89,032
Wal-Mart Stores Inc.
5.63%, 04/15/41		38		44,049
6.50%, 08/15/37		94		119,297


Security	Principal (000s)		Value

Walgreen Co.
3.10%, 09/15/22	$	38	$	36,552

				458,815
FOOD PRODUCTS — 2.79%
Archer-Daniels-Midland Co.
4.48%, 03/01/21		75		80,946
ConAgra Foods Inc.
4.65%, 01/25/43 (Call 07/25/42)		50		47,310
General Mills Inc.
3.15%, 12/15/21 (Call 09/15/21)		38		38,056
Kellogg Co.
3.13%, 05/17/22		38		37,039
Kraft Foods Group Inc.
3.50%, 06/06/22		38		38,004
5.00%, 06/04/42		38		38,731
Mondelez International Inc.
6.50%, 02/09/40		75		92,239
Tyson Foods Inc.
4.50%, 06/15/22 (Call 03/15/22)		38		39,525

				411,850
HEALTH CARE EQUIPMENT & SUPPLIES — 2.49%
Abbott Laboratories
5.30%, 05/27/40		38		43,796
Baxter International Inc.
2.40%, 08/15/22		38		35,424
Becton, Dickinson and Co.
3.13%, 11/08/21		57		57,378
Boston Scientific Corp.
6.00%, 01/15/20		57		66,447
Covidien International Finance SA
6.00%, 10/15/17		38		43,604
Medtronic Inc.
3.00%, 03/15/15		19		19,572
3.13%, 03/15/22 (Call 12/15/21)		38		37,748
4.50%, 03/15/42 (Call 09/15/41)		38		37,798
Stryker Corp.
2.00%, 09/30/16		25		25,728

				367,495
HEALTH CARE PROVIDERS & SERVICES — 1.06%
Cardinal Health Inc.
3.20%, 03/15/23		25		23,874
Express Scripts Holding Co.
3.13%, 05/15/16		75		78,402
Laboratory Corp. of America Holdings
3.75%, 08/23/22 (Call 05/23/22)		19		18,906
McKesson Corp.
2.70%, 12/15/22 (Call 09/15/22)		38		35,454

				156,636
HOTELS, RESTAURANTS & LEISURE — 1.00%
Hyatt Hotels Corp.
3.38%, 07/15/23 (Call 04/15/23)		19		17,903
McDonald’s Corp.
5.35%, 03/01/18		75		86,025
Wyndham Worldwide Corp.
4.25%, 03/01/22 (Call 12/01/21)		38		37,569


Security	Principal (000s)		Value

Yum! Brands Inc.
6.88%, 11/15/37	$	5	$	5,925

				147,422
HOUSEHOLD DURABLES — 0.25%
NVR Inc.
3.95%, 09/15/22 (Call 06/15/22)		38		37,215

				37,215
HOUSEHOLD PRODUCTS — 1.76%
Colgate-Palmolive Co.
2.10%, 05/01/23		25		22,684
Energizer Holdings Inc.
4.70%, 05/24/22		38		39,029
Kimberly-Clark Corp.
6.13%, 08/01/17		75		87,114
Procter & Gamble Co. (The)
1.45%, 08/15/16		38		38,714
1.60%, 11/15/18		50		49,896
5.55%, 03/05/37		19		22,413

				259,850
INDUSTRIAL CONGLOMERATES — 1.18%
3M Co.
2.00%, 06/26/22		38		35,552
Carlisle Companies Inc.
3.75%, 11/15/22 (Call 08/15/22)		8		7,796
General Electric Co.
4.13%, 10/09/42		19		17,702
5.25%, 12/06/17		38		43,258
Koninklijke Philips NV
5.75%, 03/11/18		50		57,716
Pentair Finance SA
2.65%, 12/01/19		12		11,679

				173,703
INTERNET & CATALOG RETAIL — 0.12%
Amazon.com Inc.
2.50%, 11/29/22 (Call 08/29/22)		19		17,406

				17,406
INTERNET SOFTWARE & SERVICES — 0.39%
eBay Inc.
2.60%, 07/15/22 (Call 04/15/22)		19		17,694
Google Inc.
3.63%, 05/19/21		38		40,396

				58,090
IT SERVICES — 1.95%
Computer Sciences Corp.
4.45%, 09/15/22		25		25,288
Fidelity National Information Services Inc.
5.00%, 03/15/22 (Call 03/15/17)		19		19,453
Fiserv Inc.
3.50%, 10/01/22 (Call 07/01/22)		19		18,353
International Business Machines Corp.
1.25%, 02/06/17		100		100,824


Security	Principal (000s)		Value

4.00%, 06/20/42	$	41	$	37,463
5.60%, 11/30/39		3		3,395
Western Union Co. (The)
5.25%, 04/01/20		19		20,294
5.93%, 10/01/16		57		62,831

				287,901
LIFE SCIENCES TOOLS & SERVICES — 0.69%
Agilent Technologies Inc.
3.88%, 07/15/23 (Call 04/15/23)^a		19		18,656
Life Technologies Corp.
4.40%, 03/01/15		25		25,924
Thermo Fisher Scientific Inc.
3.60%, 08/15/21 (Call 05/15/21)		57		57,849

				102,429
MACHINERY — 0.50%
Caterpillar Inc.
3.80%, 08/15/42		25		21,910
Deere & Co.
3.90%, 06/09/42 (Call 12/09/41)		38		34,687
Illinois Tool Works Inc.
3.90%, 09/01/42 (Call 03/01/42)		19		17,109

				73,706
MEDIA — 7.61%
21st Century Fox America Inc.
3.00%, 09/15/22		50		48,015
6.65%, 11/15/37		57		68,434
CBS Corp.
3.38%, 03/01/22 (Call 12/01/21)		44		43,014
Comcast Corp.
2.85%, 01/15/23^a		113		106,825
4.25%, 01/15/33		40		38,126
6.95%, 08/15/37		38		47,915
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
6.00%, 08/15/40 (Call 05/15/40)		75		76,261
Discovery Communications LLC
3.25%, 04/01/23		50		47,632
Grupo Televisa SAB de CV CPO
6.63%, 01/15/40		25		27,379
Interpublic Group of Companies Inc. (The)
3.75%, 02/15/23^a		25		24,000
NBCUniversal Media LLC
5.15%, 04/30/20		113		128,360
Thomson Reuters Corp.
4.30%, 11/23/23 (Call 08/23/23)		25		25,415
Time Warner Cable Inc.
4.00%, 09/01/21 (Call 06/01/21)		75		70,819
7.30%, 07/01/38		57		58,822
Time Warner Inc.
4.88%, 03/15/20		57		63,255
7.70%, 05/01/32		94		124,224
Viacom Inc.
6.88%, 04/30/36		38		44,908
Walt Disney Co. (The)
0.88%, 12/01/14		63		63,381
3.70%, 12/01/42		19		16,885

				1,123,670


Security	Principal (000s)		Value

METALS & MINING — 5.00%
Alcoa Inc.
5.40%, 04/15/21 (Call 01/15/21)^a	$	50	$	51,941
Barrick N.A. Finance LLC
4.40%, 05/30/21		75		73,760
5.75%, 05/01/43		19		17,553
BHP Billiton Finance (USA) Ltd.
1.13%, 11/21/14		57		57,377
2.88%, 02/24/22		57		55,541
Cliffs Natural Resources Inc.
4.88%, 04/01/21 (Call 01/01/21)^a		38		35,393
Freeport-McMoRan Copper & Gold Inc.
3.88%, 03/15/23 (Call 12/15/22)		57		54,364
5.45%, 03/15/43 (Call 09/15/42)		19		18,060
Newmont Mining Corp.
3.50%, 03/15/22 (Call 12/15/21)		38		33,374
4.88%, 03/15/42 (Call 09/15/41)		19		14,706
Rio Tinto Finance (USA) Ltd.
3.75%, 09/20/21		100		102,414
Rio Tinto Finance (USA) PLC
4.13%, 08/21/42 (Call 02/21/42)^a		25		22,060
Southern Copper Corp.
5.38%, 04/16/20^a		38		40,936
Teck Resources Ltd.
3.75%, 02/01/23 (Call 11/01/22)^a		57		53,913
5.20%, 03/01/42 (Call 09/01/41)		19		17,010
Vale Overseas Ltd.
8.25%, 01/17/34		75		90,766

				739,168
MULTILINE RETAIL — 1.72%
Kohl’s Corp.
4.75%, 12/15/23 (Call 09/15/23)		25		25,902
Macy’s Retail Holdings Inc.
2.88%, 02/15/23 (Call 11/15/22)		19		17,710
7.88%, 07/15/15		75		82,557
Target Corp.
7.00%, 01/15/38		100		128,181

				254,350
OFFICE ELECTRONICS — 1.13%
Pitney Bowes Inc.
5.75%, 09/15/17		57		63,309
Xerox Corp.
4.25%, 02/15/15		75		77,742
4.50%, 05/15/21		25		26,155

				167,206
OIL, GAS & CONSUMABLE FUELS — 8.90%
Anadarko Finance Co.
7.50%, 05/01/31		38		47,902
Anadarko Petroleum Corp.
6.38%, 09/15/17		57		65,494
Apache Corp.
5.10%, 09/01/40 (Call 03/01/40)		38		39,375
Canadian Natural Resources Ltd.
5.70%, 05/15/17		75		84,781
Cenovus Energy Inc.
6.75%, 11/15/39		25		30,289


Security	Principal (000s)		Value

Chevron Corp.
1.10%, 12/05/17 (Call 11/05/17)	$	57	$	56,642
ConocoPhillips
4.60%, 01/15/15		57		59,235
6.50%, 02/01/39^a		75		97,733
Devon Energy Corp.
2.40%, 07/15/16 (Call 06/15/16)		38		39,306
5.60%, 07/15/41 (Call 01/15/41)		38		40,629
Encana Corp.
6.50%, 02/01/38		38		43,342
Hess Corp.
5.60%, 02/15/41		38		40,344
Husky Energy Inc.
7.25%, 12/15/19		75		91,882
Marathon Oil Corp.
6.60%, 10/01/37		19		23,421
Occidental Petroleum Corp.
1.75%, 02/15/17		57		57,998
Phillips 66
4.30%, 04/01/22		75		77,993
Shell International Finance BV
0.63%, 12/04/15		75		75,141
6.38%, 12/15/38		38		48,038
Suncor Energy Inc.
6.50%, 06/15/38		57		68,295
Talisman Energy Inc.
3.75%, 02/01/21 (Call 11/01/20)		57		56,247
Total Capital Canada Ltd.
2.75%, 07/15/23		38		35,786
Total Capital International SA
1.50%, 02/17/17		38		38,452
3.75%, 04/10/24		50		50,765
Valero Energy Corp.
6.63%, 06/15/37		38		45,137

				1,314,227
PAPER & FOREST PRODUCTS — 1.03%
Celulosa Arauco y Constitucion SA
4.75%, 01/11/22 (Call 10/11/21)		38		37,145
International Paper Co.
6.00%, 11/15/41 (Call 05/15/41)		19		21,461
7.95%, 06/15/18		75		92,721

				151,327
PERSONAL PRODUCTS — 0.25%
Avon Products Inc.
5.00%, 03/15/23^a		38		36,733

				36,733
PHARMACEUTICALS — 6.94%
AbbVie Inc.
1.75%, 11/06/17		38		38,177
4.40%, 11/06/42		38		36,478
Actavis Inc.
4.63%, 10/01/42 (Call 04/01/42)		19		17,855
Allergan Inc.
3.38%, 09/15/20		15		15,522
AstraZeneca PLC
4.00%, 09/18/42		19		17,297
5.90%, 09/15/17		38		43,943


Security	Principal (000s)		Value

Bristol-Myers Squibb Co.
3.25%, 08/01/42	$	19	$	15,276
Eli Lilly and Co.
5.20%, 03/15/17		75		84,259
GlaxoSmithKline Capital Inc.
6.38%, 05/15/38		38		47,778
GlaxoSmithKline Capital PLC
0.75%, 05/08/15		75		75,321
2.85%, 05/08/22		19		18,441
Johnson & Johnson
5.95%, 08/15/37		38		47,136
Merck & Co. Inc.
6.55%, 09/15/37		57		73,261
Mylan Inc.
4.20%, 11/29/23 (Call 08/29/23)		25		25,141
Novartis Capital Corp.
2.90%, 04/24/15		113		116,518
Pfizer Inc.
5.35%, 03/15/15		75		79,055
7.20%, 03/15/39		57		79,218
Sanofi
4.00%, 03/29/21		75		80,207
Teva Pharmaceutical Finance Co. BV
2.40%, 11/10/16		75		77,632
Zoetis Inc.
3.25%, 02/01/23 (Call 11/01/22)		38		36,341

				1,024,856
REAL ESTATE INVESTMENT TRUSTS (REITS) — 0.70%
American Tower Corp.
3.50%, 01/31/23		57		53,757
Plum Creek Timberlands LP
3.25%, 03/15/23 (Call 12/15/22)		19		17,550
Weyerhaeuser Co.
7.38%, 03/15/32		25		31,695

				103,002
ROAD & RAIL — 2.70%
Burlington Northern Santa Fe Corp.
7.00%, 12/15/25		75		95,131
Canadian National Railway Co.
2.85%, 12/15/21 (Call 09/15/21)		75		74,017
CSX Corp.
4.75%, 05/30/42 (Call 11/30/41)		38		37,629
7.38%, 02/01/19		38		46,908
Norfolk Southern Corp.
3.00%, 04/01/22 (Call 01/01/22)		38		36,901
4.84%, 10/01/41		38		38,133
Union Pacific Corp.
4.16%, 07/15/22 (Call 04/15/22)		50		52,903
4.25%, 04/15/43 (Call 10/15/42)		19		17,781

				399,403
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.86%
Intel Corp.
3.30%, 10/01/21		88		89,684
Texas Instruments Inc.
1.65%, 08/03/19		38		37,009

				126,693


Security	Principal or Shares (000s)		Value

SOFTWARE — 1.85%
Microsoft Corp.
1.63%, 09/25/15	$	75	$	76,345
2.13%, 11/15/22		38		34,897
3.75%, 05/01/43 (Call 11/01/42)^a		19		16,740
Oracle Corp.
2.50%, 10/15/22		38		35,473
5.38%, 07/15/40		38		42,022
5.75%, 04/15/18		25		29,031
Symantec Corp.
2.75%, 06/15/17 (Call 05/15/17)		38		39,047

				273,555
SPECIALTY RETAIL — 1.12%
Home Depot Inc. (The)
4.40%, 04/01/21 (Call 01/01/21)		38		41,704
5.88%, 12/16/36		38		45,759
Lowe’s Companies Inc.
3.80%, 11/15/21 (Call 08/15/21)		75		78,412

				165,875
TOBACCO — 2.24%
Altria Group Inc.
4.50%, 05/02/43		25		22,718
9.70%, 11/10/18		57		75,556
10.20%, 02/06/39		7		11,274
Lorillard Tobacco Co.
8.13%, 05/01/40		19		24,021
Philip Morris International Inc.
2.90%, 11/15/21		113		110,538
Reynolds American Inc.
6.75%, 06/15/17		75		87,141

				331,248
WIRELESS TELECOMMUNICATION SERVICES — 2.52%
America Movil SAB de CV
5.00%, 03/30/20		150		164,242
Cellco Partnership/Verizon Wireless Capital LLC
8.50%, 11/15/18		25		31,930
Vodafone Group PLC
2.88%, 03/16/16		94		97,773
2.95%, 02/19/23		38		35,606
6.15%, 02/27/37		38		42,468

				372,019

TOTAL CORPORATE BONDS & NOTES (Cost: $14,648,193)				14,340,839

SHORT-TERM INVESTMENTS — 6.74%

MONEY MARKET FUNDS — 6.74%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		627		626,669


Security	Shares (000s)		Value

BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		54	$	53,884
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		315		315,431

				995,984

TOTAL SHORT-TERM INVESTMENTS (Cost: $995,984)				995,984


TOTAL INVESTMENTS IN SECURITIES — 103.83% (Cost: $15,644,177)				15,336,823
Other Assets, Less Liabilities — (3.83)%				(565,651	)

NET ASSETS — 100.00%			$	14,771,172

CPO — Certificates of Participation (Ordinary)

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)				Value

FOREIGN GOVERNMENT INFLATION-INDEXED BONDS & NOTES — 96.96%
AUSTRALIA — 4.12%
Australia (Commonwealth of)
2.00%, 08/21/35^a		AUD	$	200	$	174,179
2.50%, 09/20/30^a		AUD		394		406,124
3.00%, 09/20/25^a		AUD		1,142		1,272,904
4.00%, 08/20/15		AUD		198		308,511
4.00%, 08/20/20		AUD		1,309		2,102,599

						4,264,317
BRAZIL — 12.23%
Brazil (Federative Republic of)
6.00%, 08/15/14		BRL		2,181		2,203,203
6.00%, 05/15/15		BRL		674		671,919
6.00%, 08/15/16		BRL		550		547,336
6.00%, 05/15/17		BRL		786		766,166
6.00%, 08/15/18		BRL		500		488,627
6.00%, 08/15/20		BRL		2,925		2,820,777
6.00%, 08/15/22		BRL		150		142,764
6.00%, 08/15/24		BRL		827		776,443
6.00%, 08/15/30		BRL		350		319,581
6.00%, 05/15/35		BRL		1,078		957,408
6.00%, 08/15/40		BRL		50		44,506
6.00%, 05/15/45		BRL		994		863,535
6.00%, 08/15/50		BRL		2,345		2,057,581

						12,659,846
CANADA — 4.36%
Canada (Government of)
1.50%, 12/01/44		CAD		728		738,135
2.00%, 12/01/41		CAD		1,002		1,120,058
3.00%, 12/01/36		CAD		282		361,408
4.00%, 12/01/31		CAD		300		410,271
4.25%, 12/01/21		CAD		207		243,174
4.25%, 12/01/26		CAD		1,262		1,636,360

						4,509,406
CHILE — 4.24%
Chile (Republic of)
2.10%, 09/01/15		CLP		93,743		170,879
3.00%, 07/01/17		CLP		93,743		175,429
3.00%, 02/01/21		CLP		1,113,204		2,167,673
3.00%, 03/01/27		CLP		117,179		231,146
3.00%, 01/01/30		CLP		187,487		371,115
3.00%, 03/01/38		CLP		117,179		234,412
3.00%, 01/01/40		CLP		304,666		619,273
4.50%, 08/01/24		CLP		187,487		421,199

						4,391,126
COLOMBIA — 2.68%
Colombia (Republic of)
3.50%, 03/10/21		COP		3,118,427		1,522,405
4.75%, 02/23/23		COP		311,843		166,417
7.00%, 02/25/15		COP		2,078,951		1,083,558

						2,772,380


Security	Principal (000s)			Value

FRANCE — 12.88%
France (Republic of)
0.10%, 07/25/21		EUR	1	$	1,343
0.25%, 07/25/18		EUR	166		228,825
0.25%, 07/25/24		EUR	51		65,560
0.45%, 07/25/16		EUR	1,105		1,537,851
1.00%, 07/25/17		EUR	1,309		1,865,842
1.10%, 07/25/22		EUR	2,346		3,355,571
1.30%, 07/25/19		EUR	1		1,550
1.60%, 07/25/15		EUR	886		1,236,002
1.80%, 07/25/40		EUR	297		465,265
1.85%, 07/25/27		EUR	119		181,737
2.10%, 07/25/23		EUR	306		475,382
2.25%, 07/25/20		EUR	338		520,393
3.15%, 07/25/32		EUR	1,415		2,606,365
3.40%, 07/25/29		EUR	425		788,711

					13,330,397
GERMANY — 4.65%
Germany (Federal Republic of)
0.10%, 04/15/23		EUR	801		1,074,205
0.75%, 04/15/18		EUR	633		893,914
1.50%, 04/15/16		EUR	1,000		1,402,300
1.75%, 04/15/20		EUR	954		1,440,451

					4,810,870
ISRAEL — 4.55%
Israel (State of)
1.75%, 09/29/23		ILS	750		223,377
2.75%, 08/30/41		ILS	775		254,950
3.50%, 04/30/18		ILS	3,518		1,388,853
4.00%, 07/31/24		ILS	1,951		865,215
4.00%, 05/30/36		ILS	2,139		962,258
5.00%, 04/30/15		ILS	2,422		1,017,537

					4,712,190
ITALY — 8.99%
Italy (Republic of)
1.70%, 09/15/18		EUR	227		309,175
2.10%, 09/15/16		EUR	789		1,097,929
2.10%, 09/15/17^a		EUR	2,567		3,563,524
2.10%, 09/15/21^a		EUR	470		628,159
2.15%, 09/15/14^a		EUR	265		362,361
2.35%, 09/15/19^a		EUR	221		307,822
2.35%, 09/15/35^a		EUR	954		1,203,320
2.55%, 09/15/41^a		EUR	443		538,280
2.60%, 09/15/23^a		EUR	803		1,088,722
3.10%, 09/15/26^a		EUR	149		207,882

					9,307,174
JAPAN — 3.73%
Japan (Government of)
0.10%, 09/10/23		JPY	8,056		84,344
1.00%, 06/10/16		JPY	11,906		128,110
1.10%, 09/10/16		JPY	103,010		1,115,959


Security	Principal (000s)			Value

1.20%, 12/10/17		JPY	182,947	$	2,039,892
1.40%, 03/10/18		JPY	11,765		132,907
1.40%, 06/10/18		JPY	31,637		358,337

					3,859,549
MEXICO — 3.60%
United Mexican States
2.50%, 12/10/20		MXN	21,252		1,602,121
3.50%, 12/14/17		MXN	1,101		88,523
4.00%, 11/15/40		MXN	13,486		1,007,704
4.50%, 12/18/14		MXN	3,258		252,806
4.50%, 11/22/35		MXN	8,350		673,828
5.00%, 06/16/16		MXN	1,275		104,474

					3,729,456
NEW ZEALAND — 1.14%
New Zealand (Government of)
2.00%, 09/20/25		NZD	765		591,261
3.00%, 09/20/30		NZD	425		351,095
4.50%, 02/15/16		NZD	190		240,846

					1,183,202
POLAND — 1.37%
Poland (Republic of)
2.75%, 08/25/23		PLN	1,963		645,878
3.00%, 08/24/16		PLN	2,350		777,537

					1,423,415
SOUTH AFRICA — 4.02%
South Africa (Republic of)
2.00%, 01/31/25		ZAR	1,085		92,375
2.25%, 01/31/38		ZAR	1,681		139,736
2.50%, 01/31/17		ZAR	4,066		377,550
2.50%, 12/31/50		ZAR	3,382		289,396
2.60%, 03/31/28		ZAR	2,384		214,002
2.75%, 01/31/22		ZAR	7,252		666,416
3.45%, 12/07/33		ZAR	13,049		1,325,418
5.50%, 12/07/23		ZAR	9,282		1,053,066

					4,157,959
SOUTH KOREA — 1.55%
Korea (Republic of)
1.50%, 06/10/21		KRW	1,114,685		1,020,265
2.75%, 03/10/17		KRW	276,884		266,070
2.75%, 06/10/20		KRW	317,696		313,673

					1,600,008
SWEDEN — 4.45%
Sweden (Kingdom of)
0.25%, 06/01/22		SEK	215		32,020
3.50%, 12/01/15		SEK	8,965		1,787,344
3.50%, 12/01/28		SEK	7,610		1,936,387
4.00%, 12/01/20		SEK	3,515		847,043

					4,602,794


Security	Principal (000s)			Value

THAILAND — 0.77%
Thailand (Kingdom of)
1.20%, 07/14/21^a		THB	28,555	$	797,528

					797,528
TURKEY — 4.15%
Turkey (Republic of)
2.00%, 10/26/22		TRY	2,050		800,088
2.80%, 11/08/23		TRY	51		21,359
3.00%, 01/06/21		TRY	2,905		1,241,764
3.00%, 08/02/23		TRY	361		153,290
4.00%, 04/01/20		TRY	1,461		663,229
7.00%, 10/01/14		TRY	2,663		1,197,121
9.00%, 05/21/14		TRY	493		222,202

					4,299,053
UNITED KINGDOM — 13.48%
United Kingdom
0.13%, 11/22/19^a		GBP	126		220,332
0.13%, 03/22/24^a		GBP	308		521,457
0.13%, 03/22/29^a		GBP	1		1,767
0.13%, 03/22/44^a		GBP	182		304,041
0.13%, 03/22/68^a		GBP	30		53,132
0.25%, 03/22/52^a		GBP	1		1,844
0.38%, 03/22/62^a		GBP	447		862,885
0.50%, 03/22/50^a		GBP	1		2,270
0.63%, 03/22/40^a		GBP	30		55,985
0.63%, 11/22/42^a		GBP	245		471,474
0.75%, 11/22/47^a		GBP	176		359,391
1.13%, 11/22/37^a		GBP	93		193,200
1.25%, 11/22/17^a		GBP	697		1,268,810
1.25%, 11/22/27^a		GBP	104		201,820
1.25%, 11/22/32^a		GBP	461		932,438
1.25%, 11/22/55^a		GBP	894		2,227,137
1.88%, 11/22/22^a		GBP	669		1,326,804
2.00%, 01/26/35^a		GBP	624		2,068,349
2.50%, 07/26/16^a		GBP	78		433,658
2.50%, 04/16/20^a		GBP	1		5,962
2.50%, 07/17/24^a		GBP	206		1,107,001
4.13%, 07/22/30^a		GBP	263		1,334,643

					13,954,400

TOTAL FOREIGN GOVERNMENT INFLATION-INDEXED BONDS & NOTES (Cost: $109,390,396)					100,365,070


Security	Shares (000s)		Value

SHORT-TERM INVESTMENTS — 0.00%
MONEY MARKET FUNDS — 0.00%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		2	$	1,528

				1,528

TOTAL SHORT-TERM INVESTMENTS (Cost: $1,528)				1,528


TOTAL INVESTMENTS IN SECURITIES — 96.96% (Cost: $109,391,924)				100,366,598
Other Assets, Less Liabilities — 3.04%				3,146,272

NET ASSETS — 100.00%			$	103,512,870

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

CLP — Chilean Peso

COP — Colombian Peso

EUR — Euro

GBP — British Pound

ILS — Israeli Shekel

JPY — Japanese Yen

KRW — South Korean Won

MXN — Mexican Peso

NZD — New Zealand Dollar

PLN — Polish Zloty

SEK — Swedish Krona

THB — Thai Baht

TRY — Turkish Lira

ZAR — South African Rand

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

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security		Principal (000s)		Value

FOREIGN GOVERNMENT OBLIGATIONS — 96.97%

AUSTRALIA — 4.02%
Australia (Commonwealth of)
2.75%, 04/21/24	AUD	$	1,125	$	878,930
3.25%, 04/21/25^a	AUD		900		725,728
3.25%, 04/21/29^a	AUD		171		130,042
4.25%, 07/21/17	AUD		1,429		1,298,794
4.50%, 04/15/20	AUD		1,760		1,619,889
4.50%, 04/21/33^a	AUD		750		646,869
4.75%, 10/21/15	AUD		1,375		1,244,040
4.75%, 06/15/16	AUD		1,734		1,584,294
4.75%, 04/21/27^a	AUD		1,171		1,072,333
5.25%, 03/15/19	AUD		2,322		2,208,887
5.50%, 01/21/18	AUD		3,194		3,035,177
5.50%, 04/21/23	AUD		2,529		2,475,487
5.75%, 05/15/21	AUD		1,412		1,393,924
5.75%, 07/15/22	AUD		1,761		1,746,923
6.00%, 02/15/17	AUD		1,109		1,055,538
6.25%, 04/15/15	AUD		807		735,806

					21,852,661

AUSTRIA — 4.53%
Austria (Republic of)
1.75%, 10/20/23^b	EUR		550		730,761
1.95%, 06/18/19^b	EUR		350		495,639
2.40%, 05/23/34^b	EUR		250		325,390
3.15%, 06/20/44^b	EUR		600		875,786
3.20%, 02/20/17^b	EUR		1,640		2,401,225
3.40%, 11/22/22^b	EUR		1,184		1,808,468
3.50%, 09/15/21^b	EUR		1,710		2,629,602
3.65%, 04/20/22^b	EUR		674		1,047,979
3.80%, 01/26/62^b	EUR		257		437,755
3.90%, 07/15/20^b	EUR		1,212		1,899,207
4.00%, 09/15/16^b	EUR		1,445		2,138,649
4.15%, 03/15/37^b	EUR		1,195		2,008,886
4.30%, 09/15/17^b	EUR		1,120		1,715,244
4.35%, 03/15/19^b	EUR		848		1,339,464
4.65%, 01/15/18^b	EUR		1,455		2,271,826
4.85%, 03/15/26^b	EUR		800		1,381,833
6.25%, 07/15/27	EUR		598		1,171,619

					24,679,333

BELGIUM — 4.20%
Belgium (Kingdom of)
1.25%, 06/22/18^a	EUR		675		925,637
2.25%, 06/22/23^a	EUR		850		1,155,828
2.75%, 03/28/16^b	EUR		575		816,358
3.00%, 09/28/19^a	EUR		655		968,404
3.25%, 09/28/16^b	EUR		1,037		1,505,219
3.50%, 03/28/15^b	EUR		700		979,866
3.75%, 09/28/20^b	EUR		1,147		1,769,794
3.75%, 06/22/45^a	EUR		250		369,601
4.00%, 03/28/18^b	EUR		1,417		2,162,285
4.00%, 03/28/19	EUR		722		1,116,187
4.00%, 03/28/22	EUR		969		1,517,902


Security		Principal (000s)		Value

4.00%, 03/28/32^a	EUR		575	$	890,915
4.25%, 09/28/21^b	EUR		1,125		1,791,338
4.25%, 09/28/22^a	EUR		795		1,264,160
4.25%, 03/28/41^b	EUR		656		1,062,164
4.50%, 03/28/26^b	EUR		550		893,121
5.00%, 03/28/35^b	EUR		1,096		1,929,648
5.50%, 03/28/28	EUR		969		1,735,786

					22,854,213

CANADA — 3.83%
Canada (Government of)
1.00%, 02/01/15	CAD		475		426,314
1.00%, 05/01/15	CAD		435		390,421
1.00%, 11/01/15	CAD		375		336,624
1.00%, 08/01/16	CAD		700		627,256
1.25%, 02/01/16	CAD		425		383,394
1.25%, 03/01/18	CAD		375		333,796
1.25%, 09/01/18	CAD		800		707,691
1.50%, 08/01/15	CAD		700		632,954
1.50%, 03/01/17	CAD		275		249,314
1.50%, 09/01/17	CAD		500		451,536
1.50%, 06/01/23	CAD		325		270,884
2.00%, 06/01/16	CAD		825		756,888
2.50%, 06/01/15	CAD		589		538,978
2.50%, 06/01/24	CAD		750		675,037
2.75%, 09/01/16	CAD		550		514,527
2.75%, 06/01/22	CAD		963		900,165
3.00%, 12/01/15	CAD		1,293		1,202,208
3.25%, 06/01/21	CAD		850		828,448
3.50%, 06/01/20	CAD		650		641,115
3.50%, 12/01/45	CAD		870		869,672
3.75%, 06/01/19	CAD		991		983,294
4.00%, 06/01/16	CAD		1,575		1,509,906
4.00%, 06/01/17	CAD		1,023		1,001,741
4.00%, 06/01/41	CAD		1,120		1,203,928
4.25%, 06/01/18	CAD		825		826,672
4.50%, 06/01/15	CAD		25		23,467
5.00%, 06/01/37	CAD		978		1,192,091
5.75%, 06/01/29	CAD		609		755,904
5.75%, 06/01/33	CAD		670		861,887
8.00%, 06/01/27	CAD		400		577,931
9.00%, 06/01/25	CAD		120		177,458

					20,851,501

DENMARK — 4.21%
Denmark (Kingdom of)
1.50%, 11/15/23	DKK		12,832		2,282,534
2.00%, 11/15/14	DKK		—		31
2.50%, 11/15/16	DKK		7,116		1,368,038
3.00%, 11/15/21	DKK		19,204		3,906,438
4.00%, 11/15/15	DKK		10,255		1,984,274
4.00%, 11/15/17	DKK		11,348		2,334,136
4.00%, 11/15/19	DKK		17,617		3,748,624
4.50%, 11/15/39	DKK		23,158		5,823,666
7.00%, 11/10/24	DKK		5,264		1,455,291

					22,903,032

FINLAND — 4.22%
Finland (Republic of)
1.13%, 09/15/18^b	EUR		1,250		1,715,424


Security		Principal (000s)		Value

1.50%, 04/15/23^b	EUR		1,088	$	1,433,262
1.63%, 09/15/22^b	EUR		1,225		1,646,544
1.75%, 04/15/16^b	EUR		1,488		2,076,695
1.88%, 04/15/17^b	EUR		1,125		1,589,182
2.63%, 07/04/42^b	EUR		770		1,042,205
2.75%, 07/04/28^b	EUR		868		1,228,472
3.38%, 04/15/20^b	EUR		1,575		2,404,713
3.50%, 04/15/21^b	EUR		1,489		2,297,684
3.88%, 09/15/17^b	EUR		1,504		2,274,932
4.00%, 07/04/25^b	EUR		1,412		2,274,797
4.25%, 07/04/15^b	EUR		635		906,271
4.38%, 07/04/19^b	EUR		1,290		2,054,346

					22,944,527

FRANCE — 7.00%
France (Republic of)
0.25%, 11/25/15	EUR		325		438,774
1.00%, 07/25/17	EUR		325		445,773
1.00%, 05/25/18	EUR		100		136,344
1.75%, 02/25/17	EUR		275		386,360
1.75%, 05/25/23	EUR		730		963,468
2.00%, 07/12/15	EUR		325		449,827
2.25%, 10/25/22	EUR		338		469,438
2.25%, 05/25/24	EUR		300		405,301
2.50%, 01/15/15	EUR		469		646,340
2.50%, 07/25/16	EUR		250		355,852
2.50%, 10/25/20	EUR		220		318,007
2.75%, 10/25/27	EUR		652		891,032
3.00%, 10/25/15	EUR		975		1,379,001
3.00%, 04/25/22	EUR		1,097		1,620,475
3.25%, 04/25/16	EUR		825		1,187,229
3.25%, 10/25/21	EUR		450		678,104
3.25%, 05/25/45^a	EUR		100		136,933
3.50%, 04/25/15	EUR		1,350		1,894,075
3.50%, 04/25/20	EUR		2,650		4,054,897
3.50%, 04/25/26	EUR		705		1,052,582
3.75%, 04/25/17	EUR		525		783,340
3.75%, 10/25/19	EUR		1,300		2,009,544
3.75%, 04/25/21	EUR		25		38,885
4.00%, 10/25/38	EUR		736		1,156,705
4.00%, 04/25/55	EUR		359		569,291
4.00%, 04/25/60	EUR		247		393,514
4.25%, 10/25/18	EUR		2,749		4,292,443
4.25%, 10/25/23	EUR		525		843,165
4.50%, 04/25/41	EUR		625		1,062,203
4.75%, 04/25/35	EUR		825		1,425,527
5.00%, 10/25/16	EUR		2,581		3,925,969
5.50%, 04/25/29	EUR		525		954,072
5.75%, 10/25/32	EUR		391		748,335
6.00%, 10/25/25	EUR		275		508,230
8.50%, 10/25/19	EUR		250		475,846
8.50%, 04/25/23	EUR		485		1,016,300

					38,113,181

GERMANY — 5.60%
Germany (Federal Republic of)
0.25%, 09/11/15	EUR		50		67,624
0.25%, 04/13/18	EUR		660		882,903
0.50%, 04/07/17	EUR		1,828		2,487,373
0.50%, 02/23/18	EUR		325		440,085
1.00%, 10/12/18	EUR		340		467,962


Security		Principal (000s)		Value

1.50%, 09/04/22	EUR		575	$	782,318
1.50%, 02/15/23	EUR		355		479,621
1.50%, 05/15/23	EUR		375		504,329
1.75%, 10/09/15	EUR		1,125		1,559,978
1.75%, 07/04/22	EUR		820		1,142,049
2.00%, 02/26/16	EUR		100		140,198
2.00%, 01/04/22	EUR		575		819,856
2.00%, 08/15/23	EUR		700		980,102
2.25%, 09/04/20	EUR		221		322,642
2.25%, 09/04/21	EUR		873		1,270,803
2.50%, 01/04/21	EUR		125		185,198
2.50%, 07/04/44	EUR		287		387,840
2.75%, 04/08/16	EUR		75		106,994
3.25%, 07/04/15	EUR		1,700		2,395,149
3.25%, 01/04/20	EUR		290		445,954
3.25%, 07/04/21	EUR		375		582,407
3.25%, 07/04/42	EUR		483		754,180
3.50%, 01/04/16	EUR		800		1,149,720
3.50%, 07/04/19	EUR		721		1,117,956
3.75%, 01/04/19	EUR		1,173		1,826,566
4.00%, 01/04/37	EUR		489		837,464
4.25%, 07/04/17	EUR		2,039		3,123,457
4.25%, 07/04/18	EUR		610		959,129
4.25%, 07/04/39	EUR		350		630,219
4.75%, 07/04/28	EUR		164		293,378
4.75%, 07/04/34	EUR		406		753,429
4.75%, 07/04/40	EUR		307		595,836
5.50%, 01/04/31	EUR		462		902,989
5.63%, 01/04/28	EUR		200		385,230
6.25%, 01/04/24	EUR		25		48,123
6.25%, 01/04/30	EUR		100		207,368
6.50%, 07/04/27	EUR		225		464,108

					30,500,537

IRELAND — 4.52%
Ireland (Republic of)
3.90%, 03/20/23	EUR		1,158		1,665,122
4.40%, 06/18/19	EUR		1,659		2,509,243
4.50%, 02/18/15	EUR		622		872,858
4.50%, 10/18/18	EUR		1,811		2,747,027
4.50%, 04/18/20	EUR		2,506		3,797,469
4.60%, 04/18/16	EUR		1,616		2,358,528
5.00%, 10/18/20	EUR		1,932		3,014,411
5.40%, 03/13/25	EUR		2,285		3,608,406
5.50%, 10/18/17	EUR		1,071		1,653,723
5.90%, 10/18/19	EUR		1,470		2,381,922

					24,608,709

ITALY — 7.33%
Italy (Republic of)
2.25%, 05/15/16	EUR		200		275,830
2.50%, 03/01/15	EUR		375		515,067
2.75%, 12/01/15	EUR		904		1,258,222
2.75%, 11/15/16	EUR		450		628,033
3.00%, 04/15/15	EUR		194		268,465
3.00%, 06/15/15	EUR		801		1,111,741
3.00%, 11/01/15	EUR		601		839,437
3.50%, 11/01/17	EUR		291		414,114
3.50%, 06/01/18	EUR		297		422,752
3.50%, 12/01/18	EUR		550		782,459
3.75%, 08/01/15	EUR		471		661,927


Security		Principal (000s)		Value

3.75%, 04/15/16	EUR		329	$	468,346
3.75%, 08/01/16	EUR		532		759,872
3.75%, 03/01/21	EUR		393		554,391
3.75%, 08/01/21^a	EUR		671		943,307
4.00%, 02/01/17	EUR		749		1,080,344
4.00%, 09/01/20	EUR		466		672,194
4.00%, 02/01/37^a	EUR		637		820,306
4.25%, 02/01/15	EUR		619		863,627
4.25%, 02/01/19^a	EUR		795		1,169,069
4.25%, 09/01/19	EUR		564		828,312
4.25%, 03/01/20	EUR		400		584,807
4.50%, 07/15/15	EUR		150		212,761
4.50%, 02/01/18	EUR		866		1,276,548
4.50%, 08/01/18	EUR		590		874,501
4.50%, 03/01/19	EUR		715		1,063,769
4.50%, 02/01/20^a	EUR		1,014		1,501,042
4.50%, 05/01/23	EUR		497		717,005
4.50%, 03/01/24	EUR		650		932,324
4.50%, 03/01/26^a	EUR		459		653,784
4.75%, 09/15/16	EUR		509		745,100
4.75%, 05/01/17	EUR		219		322,843
4.75%, 06/01/17	EUR		418		616,608
4.75%, 09/01/21	EUR		694		1,033,536
4.75%, 08/01/23^b	EUR		795		1,169,980
4.75%, 09/01/28^b	EUR		372		535,453
4.75%, 09/01/44^b	EUR		220		305,481
5.00%, 03/01/22	EUR		554		833,902
5.00%, 03/01/25^b	EUR		662		982,434
5.00%, 08/01/34^a	EUR		552		806,349
5.00%, 08/01/39^a	EUR		522		756,739
5.00%, 09/01/40^a	EUR		592		854,673
5.25%, 08/01/17^a	EUR		461		692,423
5.25%, 11/01/29	EUR		749		1,127,474
5.50%, 09/01/22	EUR		346		535,580
5.50%, 11/01/22	EUR		382		591,584
5.75%, 07/25/16^a	EUR		50		74,105
5.75%, 02/01/33	EUR		412		656,645
6.00%, 11/15/14	EUR		394		553,182
6.00%, 05/01/31	EUR		785		1,275,532
6.50%, 11/01/27	EUR		624		1,048,882
7.25%, 11/01/26	EUR		309		550,462
9.00%, 11/01/23	EUR		351		680,345

					39,903,668

JAPAN — 21.96%
Japan (Government of)
0.10%, 11/15/14	JPY		114,100		1,119,046
0.20%, 03/20/17	JPY		9,750		95,855
0.20%, 06/20/17	JPY		353,150		3,470,902
0.20%, 09/20/17	JPY		401,900		3,949,288
0.20%, 12/20/17	JPY		100,000		982,419
0.20%, 09/20/18	JPY		102,700		1,007,696
0.30%, 06/20/16	JPY		135,200		1,332,115
0.30%, 12/20/16	JPY		167,750		1,654,028
0.30%, 03/20/17	JPY		45,300		446,737
0.30%, 06/20/18	JPY		75,000		739,388
0.30%, 09/20/18	JPY		48,000		473,138
0.40%, 09/20/16	JPY		125,000		1,235,292
0.40%, 12/20/16	JPY		84,800		838,521
0.40%, 06/20/18	JPY		30,500		301,982
0.50%, 03/20/16	JPY		240,000		2,373,690


Security		Principal (000s)		Value

0.60%, 09/20/14	JPY		141,200	$	1,389,115
0.60%, 03/20/23	JPY		105,450		1,037,563
0.60%, 09/20/23	JPY		151,600		1,486,493
0.70%, 12/20/22	JPY		28,550		283,854
0.80%, 09/20/20	JPY		100,000		1,012,374
0.80%, 06/20/22	JPY		35,050		352,105
0.80%, 09/20/22	JPY		281,250		2,822,649
0.80%, 12/20/22	JPY		267,350		2,680,316
0.80%, 06/20/23	JPY		201,550		2,015,796
0.80%, 09/20/23	JPY		51,250		511,902
0.90%, 06/20/14	JPY		170,450		1,676,545
1.00%, 09/20/20	JPY		86,550		887,234
1.00%, 09/20/21	JPY		87,750		896,954
1.00%, 12/20/21	JPY		106,250		1,085,389
1.00%, 03/20/22	JPY		249,000		2,542,737
1.10%, 06/20/20	JPY		75,000		773,636
1.10%, 03/20/21	JPY		28,950		298,345
1.10%, 06/20/21	JPY		26,950		277,599
1.10%, 09/20/21	JPY		9,000		92,681
1.10%, 12/20/21	JPY		202,950		2,089,140
1.10%, 03/20/33	JPY		78,800		732,175
1.20%, 12/20/20	JPY		176,500		1,831,838
1.20%, 06/20/21	JPY		34,100		353,642
1.30%, 12/20/18	JPY		175,150		1,809,463
1.30%, 03/20/19	JPY		108,050		1,119,107
1.30%, 12/20/19	JPY		227,850		2,373,384
1.30%, 03/20/20	JPY		15,650		163,215
1.30%, 06/20/20	JPY		25,100		262,078
1.30%, 03/20/21	JPY		92,850		969,506
1.40%, 12/20/18	JPY		141,100		1,464,377
1.40%, 09/20/19	JPY		33,700		352,299
1.40%, 03/20/20	JPY		49,600		520,215
1.50%, 09/20/15	JPY		741,300		7,436,187
1.50%, 12/20/17	JPY		629,700		6,496,681
1.50%, 06/20/18	JPY		35,150		364,552
1.50%, 09/20/18	JPY		75,000		780,100
1.50%, 06/20/19	JPY		46,100		483,389
1.50%, 03/20/33	JPY		2,250		22,395
1.60%, 06/20/30	JPY		91,250		952,182
1.60%, 03/20/33	JPY		33,700		340,922
1.60%, 12/20/33	JPY		1,550		15,526
1.70%, 12/20/16	JPY		138,000		1,414,979
1.70%, 03/20/17	JPY		91,750		944,120
1.70%, 09/20/17	JPY		100,000		1,035,878
1.70%, 12/20/31	JPY		1,600		16,671
1.70%, 09/20/32	JPY		158,700		1,639,597
1.70%, 12/20/32	JPY		65,950		679,682
1.70%, 06/20/33	JPY		58,600		600,405
1.70%, 09/20/33	JPY		64,000		653,505
1.80%, 06/20/17	JPY		100,000		1,035,692
1.80%, 06/20/30	JPY		9,500		101,915
1.80%, 09/20/30	JPY		1,300		13,913
1.80%, 09/20/31	JPY		118,600		1,257,101
1.80%, 12/20/31	JPY		139,800		1,478,767
1.80%, 03/20/32	JPY		4,750		50,138
1.80%, 11/22/32	JPY		111,300		1,166,705
1.80%, 12/20/32	JPY		12,400		129,815
1.80%, 03/20/43	JPY		48,750		496,506
1.80%, 09/20/43	JPY		33,450		340,145
1.90%, 06/20/22	JPY		15,000		164,023
1.90%, 12/20/28	JPY		68,600		754,449
1.90%, 03/20/29	JPY		65,650		720,763
1.90%, 09/20/30	JPY		11,850		128,534
1.90%, 06/20/31	JPY		24,400		262,946


Security		Principal (000s)		Value

1.90%, 09/20/42	JPY		82,400	$	858,072
1.90%, 06/20/43	JPY		27,400		285,056
1.90%, 03/20/53	JPY		26,050		269,330
2.00%, 09/20/40	JPY		117,050		1,245,056
2.00%, 09/20/41	JPY		84,100		894,675
2.00%, 03/20/42	JPY		73,350		780,314
2.00%, 03/20/52	JPY		45,500		483,250
2.10%, 12/20/21	JPY		88,000		973,354
2.10%, 03/20/25	JPY		163,150		1,838,395
2.10%, 12/20/26	JPY		128,050		1,450,317
2.10%, 12/20/27	JPY		125,000		1,413,174
2.10%, 09/20/28	JPY		82,050		925,708
2.10%, 12/20/28	JPY		47,700		537,462
2.10%, 03/20/29	JPY		75,800		852,868
2.10%, 06/20/29	JPY		87,450		982,499
2.10%, 09/20/29	JPY		101,000		1,132,951
2.10%, 12/20/29	JPY		54,100		605,839
2.10%, 03/20/30	JPY		59,400		664,463
2.10%, 12/20/30	JPY		38,350		426,819
2.20%, 09/21/20	JPY		125,900		1,387,807
2.20%, 03/20/28	JPY		50,000		571,187
2.20%, 09/20/28	JPY		63,400		723,761
2.20%, 06/20/29	JPY		12,900		146,714
2.20%, 03/20/30	JPY		128,100		1,451,210
2.20%, 03/20/31	JPY		84,850		954,894
2.20%, 09/20/39	JPY		27,000		298,494
2.20%, 03/20/41	JPY		112,550		1,245,317
2.20%, 03/20/49	JPY		23,900		266,864
2.20%, 03/20/50	JPY		28,950		323,220
2.20%, 03/20/51	JPY		38,550		430,312
2.30%, 03/20/39	JPY		6,350		71,417
2.30%, 03/20/40	JPY		104,450		1,176,833
2.40%, 03/20/28	JPY		15,000		175,268
2.40%, 06/20/28	JPY		50,000		584,228
2.40%, 03/20/34	JPY		5,700		64,715
2.40%, 03/20/37	JPY		60,100		683,868
2.40%, 09/20/38	JPY		7,400		84,607
2.40%, 03/20/48	JPY		25,100		293,127
2.50%, 06/20/34	JPY		9,800		112,937
2.50%, 09/20/35	JPY		48,350		558,335
2.50%, 09/20/36	JPY		73,700		852,647
2.50%, 09/20/37	JPY		92,000		1,065,950
2.50%, 03/20/38	JPY		40,000		464,147
2.60%, 03/20/18	JPY		40,000		431,565
2.90%, 11/20/30	JPY		25,000		308,330

					119,509,362

NETHERLANDS — 4.25%
Netherlands (Kingdom of the)
0.00%, 04/15/16^b	EUR		800		1,074,183
0.75%, 04/15/15	EUR		200		271,668
1.25%, 01/15/18^b	EUR		676		934,825
1.25%, 01/15/19^b	EUR		625		859,060
1.75%, 07/15/23^b	EUR		875		1,167,471
2.25%, 07/15/22^b	EUR		700		986,701
2.50%, 01/15/17^b	EUR		525		752,868
2.50%, 01/15/33^b	EUR		639		854,270
2.75%, 01/15/15^b	EUR		623		860,682
3.25%, 07/15/15^b	EUR		1,358		1,913,984
3.50%, 07/15/20^b	EUR		1,956		3,009,878
3.75%, 01/15/23^b	EUR		1,181		1,858,047
3.75%, 01/15/42^b	EUR		766		1,262,476


Security		Principal (000s)		Value

4.00%, 07/15/16^b	EUR		775	$	1,140,787
4.00%, 07/15/18^b	EUR		725		1,117,862
4.00%, 07/15/19^b	EUR		567		886,836
4.00%, 01/15/37^b	EUR		777		1,301,375
4.50%, 07/15/17^b	EUR		880		1,350,838
5.50%, 01/15/28^b	EUR		825		1,536,281

					23,140,092

NORWAY — 1.71%
Norway (Kingdom of)
2.00%, 05/24/23	NOK		6,966		1,044,116
3.75%, 05/25/21	NOK		11,963		2,067,760
4.25%, 05/19/17	NOK		11,249		1,937,087
4.50%, 05/22/19	NOK		9,943		1,771,900
5.00%, 05/15/15	NOK		14,862		2,471,680

					9,292,543

PORTUGAL — 4.54%
Portugal (Republic of)
3.35%, 10/15/15^b	EUR		2,709		3,753,095
3.85%, 04/15/21^b	EUR		1,735		2,243,623
4.10%, 04/15/37^b	EUR		1,506		1,660,661
4.20%, 10/15/16^b	EUR		1,481		2,086,052
4.35%, 10/16/17^b	EUR		2,433		3,414,291
4.45%, 06/15/18^b	EUR		1,598		2,233,088
4.75%, 06/14/19^b	EUR		1,829		2,555,072
4.80%, 06/15/20^b	EUR		2,013		2,780,975
4.95%, 10/25/23^b	EUR		1,585		2,156,330
5.65%, 02/15/24^b	EUR		673		953,680
6.40%, 02/15/16^b	EUR		602		873,790

					24,710,657

SPAIN — 4.52%
Spain (Kingdom of)
2.10%, 04/30/17	EUR		125		171,065
2.75%, 03/31/15	EUR		275		379,184
3.00%, 04/30/15	EUR		1,050		1,453,912
3.15%, 01/31/16	EUR		654		917,909
3.25%, 04/30/16	EUR		786		1,107,065
3.30%, 07/30/16	EUR		600		847,475
3.75%, 10/31/15	EUR		713		1,007,592
3.75%, 10/31/18	EUR		655		944,849
3.80%, 01/31/17	EUR		481		692,424
4.00%, 07/30/15	EUR		241		339,889
4.00%, 04/30/20	EUR		681		985,807
4.10%, 07/30/18	EUR		680		995,621
4.20%, 01/31/37	EUR		488		631,142
4.25%, 10/31/16	EUR		420		609,273
4.30%, 10/31/19	EUR		652		964,235
4.40%, 01/31/15	EUR		133		185,945
4.40%, 10/31/23^b	EUR		700		1,001,257
4.50%, 01/31/18	EUR		572		846,618
4.60%, 07/30/19	EUR		616		924,253
4.65%, 07/30/25	EUR		320		462,602
4.70%, 07/30/41	EUR		393		540,045
4.75%, 07/30/14	EUR		19		25,463
4.80%, 01/31/24	EUR		406		597,390
4.85%, 10/31/20	EUR		494		744,327
4.90%, 07/30/40	EUR		479		679,410
5.15%, 10/31/28^b	EUR		100		149,397


Security		Principal (000s)		Value

5.15%, 10/31/44^b	EUR		75		109,157
5.40%, 01/31/23^b	EUR		550		846,409
5.50%, 07/30/17	EUR		582		884,117
5.50%, 04/30/21	EUR		726		1,131,456
5.75%, 07/30/32	EUR		451		721,412
5.85%, 01/31/22	EUR		556		881,225
5.90%, 07/30/26	EUR		525		842,259
6.00%, 01/31/29	EUR		593		960,267

					24,580,451

SWEDEN — 3.19%
Sweden (Kingdom of)
1.50%, 11/13/23	SEK		20,895		2,997,067
3.00%, 07/12/16	SEK		11,010		1,764,843
3.50%, 06/01/22	SEK		11,640		1,976,108
3.50%, 03/30/39	SEK		8,860		1,505,856
3.75%, 08/12/17	SEK		13,385		2,223,486
4.25%, 03/12/19	SEK		18,655		3,229,445
4.50%, 08/12/15	SEK		13,655		2,204,863
5.00%, 12/01/20	SEK		7,865		1,443,891

					17,345,559

SWITZERLAND — 2.24%
Switzerland (Confederation of)
2.25%, 07/06/20^a	CHF		1,287		1,592,035
2.50%, 03/12/16^a	CHF		781		910,311
3.00%, 01/08/18^a	CHF		1,575		1,943,946
3.00%, 05/12/19^a	CHF		1,267		1,609,404
3.75%, 06/10/15^a	CHF		714		829,853
4.00%, 02/11/23^a	CHF		1,018		1,440,139
4.00%, 04/08/28^a	CHF		1,441		2,147,856
4.25%, 06/05/17^a	CHF		1,363		1,722,017

					12,195,561

UNITED KINGDOM — 5.10%
United Kingdom
1.00%, 09/07/17^a	GBP		575		935,255
1.25%, 07/22/18^a	GBP		875		1,414,785
1.75%, 01/22/17^a	GBP		783		1,314,525
1.75%, 09/07/22^a	GBP		425		655,196
2.00%, 01/22/16^a	GBP		750		1,265,596
2.25%, 09/07/23^a	GBP		475		750,628
3.25%, 01/22/44^a	GBP		673		1,055,461
3.50%, 07/22/68^a	GBP		110		183,574
3.75%, 09/07/19^a	GBP		375		675,372
3.75%, 09/07/20^a	GBP		832		1,499,470
3.75%, 09/07/21^a	GBP		189		341,151
3.75%, 07/22/52^a	GBP		452		789,404
4.00%, 09/07/16^a	GBP		787		1,399,434
4.00%, 03/07/22^a	GBP		813		1,489,957
4.00%, 01/22/60^a	GBP		436		812,773
4.25%, 12/07/27^a	GBP		349		649,645
4.25%, 06/07/32^a	GBP		361		670,782
4.25%, 03/07/36^a	GBP		575		1,068,351
4.25%, 09/07/39^a	GBP		350		653,079
4.25%, 12/07/40^a	GBP		525		980,818
4.25%, 12/07/46^a	GBP		97		183,056
4.25%, 12/07/49^a	GBP		375		718,716
4.25%, 12/07/55^a	GBP		419		814,891
4.50%, 03/07/19^a	GBP		416		774,056


Security		Principal or Shares (000s)		Value

4.50%, 09/07/34^a	GBP		272		523,078
4.50%, 12/07/42^a	GBP		348		680,826
4.75%, 12/07/30^a	GBP		531		1,043,172
4.75%, 12/07/38^a	GBP		466		935,961
5.00%, 03/07/18^a	GBP		625		1,171,801
5.00%, 03/07/25^a	GBP		363		720,346
6.00%, 12/07/28^a	GBP		380		839,743
8.00%, 06/07/21^a	GBP		250		568,893
8.75%, 08/25/17^a	GBP		75		155,375

					27,735,170

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $521,630,278)					527,720,757

SHORT-TERM INVESTMENTS — 0.07%

MONEY MARKET FUNDS — 0.07%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,d			388		388,156

					388,156


TOTAL SHORT-TERM INVESTMENTS (Cost: $388,156)					388,156


TOTAL INVESTMENTS IN SECURITIES — 97.04% (Cost: $522,018,434)					528,108,913
Other Assets, Less Liabilities — 2.96%					16,090,328

NET ASSETS — 100.00%				$	544,199,241


AUD		— Australian Dollar
CAD		— Canadian Dollar
CHF		— Swiss Franc
DKK		— Danish Krone
EUR		— Euro
GBP		— British Pound
JPY		— Japanese Yen
NOK		— Norwegian Krone
SEK		— Swedish Krona

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

^b	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^c	Affiliated issuer. See Note 2.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES^a — 0.68%

CHINA — 0.37%
State Grid Overseas Investment 2013 Ltd.
3.13%, 05/22/23^b	$	13,600	$	12,608,968

				12,608,968

KAZAKHSTAN — 0.31%
KazAgro National Management Holding JSC
4.63%, 05/24/23^b		11,800		10,502,000

				10,502,000

TOTAL CORPORATE BONDS & NOTES (Cost: $23,682,624)				23,110,968

FOREIGN AGENCY OBLIGATIONS^a – 19.51%

AZERBAIJAN — 0.37%
State Oil Co. of the Azerbaijan Republic
4.75%, 03/13/23^b		13,700		12,809,500

				12,809,500

BRAZIL — 1.32%
Banco Nacional de Desenvolvimento Economico e Social
3.38%, 09/26/16^b		4,500		4,567,500
5.50%, 07/12/20^b		4,000		4,060,000
5.75%, 09/26/23^b		7,200		6,993,000
6.37%, 06/16/18^b		9,200		9,890,000
6.50%, 06/10/19^b		2,065		2,219,875
Brazil Minas SPE
5.33%, 02/15/28^b		5,646		5,137,860
Caixa Economica Federal
2.38%, 11/06/17^b		4,000		3,680,000
4.50%, 10/03/18^b		8,800		8,602,000

				45,150,235

CHILE — 1.16%
Corporacion Nacional del Cobre de Chile
3.00%, 07/17/22^b		20,828		19,151,981
3.75%, 11/04/20^b		8,686		8,718,741
3.88%, 11/03/21^b		11,706		11,603,292

				39,474,014

CHINA — 2.74%
Amber Circle Funding Ltd.
3.25%, 12/04/22^b		14,000		12,674,760
CNOOC Curtis Funding No 1 Pty Ltd.
4.50%, 10/03/23^b		16,200		16,073,478
Sinochem Overseas Capital Co. Ltd.
4.50%, 11/12/20^b		12,837		13,160,878
Sinopec Group Overseas Development 2012 Ltd.
2.75%, 05/17/17^b		7,548		7,698,960


Security	Principal (000s)		Value

3.90%, 05/17/22^b	$	21,785	$	21,107,704
4.88%, 05/17/42^b		12,744		12,032,885
Sinopec Group Overseas Development 2013 Ltd.
4.38%, 10/17/23^b		11,000		10,829,448

				93,578,113

INDONESIA — 1.34%
Majapahit Holding BV
7.75%, 01/20/20^b		1,665		1,821,094
PT Pertamina (Persero) Tbk
4.88%, 05/03/22^b		200		181,750
5.25%, 05/23/21^b		17,600		16,852,000
5.63%, 05/20/43^b		10,220		7,894,950
6.00%, 05/03/42^b		11,438		9,264,780
PT Perusahaan Gas Negara (Persero) Tbk
5.25%, 10/24/42^b		13,460		9,825,800

				45,840,374

KAZAKHSTAN – 3.08%
Development Bank of Kazakhstan JSC
4.13%, 12/10/22^b		17,634		15,738,345
Kazakhstan Temir Zholy Finance BV
6.95%, 07/10/42^b		9,107		8,970,395
KazMunaiGaz Finance Sub BV
9.13%, 07/02/18^b		19,777		23,633,515
KazMunayGas National Co. JSC
4.40%,04/30/23^b		16,349		14,898,026
5.75%, 04/30/43^b		19,996		16,921,615
6.38%, 04/09/21^b		23,490		25,016,850

				105,178,746

MALAYSIA — 2.17%
Penerbangan Malaysia Bhd
5.63%, 03/15/16^b		14,130		15,387,287
Petronas Capital Ltd.
5.25%, 08/12/19^b		31,976		35,492,082
7.88%, 05/22/22^b		18,106		23,128,967

				74,008,336

MEXICO — 2.60%
Comision Federal de Electricidad
4.88%, 05/26/21^b		4,086		4,198,365
Comision Federal Electricidad
4.88%, 01/15/24^b		3,700		3,653,750
Pemex Project Funding Master Trust
6.63%, 06/15/35		18,867		19,763,182
Petroleos Mexicanos
5.50%, 01/21/21		20,170		21,581,900
6.50%, 06/02/41		11,177		11,484,368
8.00%, 05/03/19		23,551		28,343,628

				89,025,193

PHILIPPINES — 0.61%
Power Sector Assets & Liabilities Management Corp.
7.25%, 05/27/19^b		10,698		12,757,365
7.39%, 12/02/24^b		6,630		8,188,050

				20,945,415


Security	Principal (000s)		Value

RUSSIA — 1.31%
Russian Agricultural Bank OJSC Via RSHB Capital SA
5.30%, 12/27/17^b	$	8,400	$	8,641,500
6.30%, 05/15/17^b		1,975		2,091,031
Russian Railways OJSC via RZD Capital PLC
5.74%, 04/03/17^b		13,440		14,397,600
Vnesheconombank Via VEB Finance PLC
5.94%, 11/21/23^b		2,000		1,970,000
6.80%, 11/22/25^b		13,500		13,955,625
6.90%, 07/09/20^b		3,378		3,648,240

				44,703,996

SOUTH AFRICA — 1.07%
Eskom Holdings Ltd.
5.75%, 01/26/21^b		17,757		17,446,252
6.75%, 08/06/23^b		10,138		10,201,363
Transnet SOC Ltd.
4.00%, 07/26/22^b		10,130		8,863,750

				36,511,365

VENEZUELA — 1.74%
Petroleos de Venezuela SA
5.38%, 04/12/27^b		13,822		6,807,434
5.50%, 04/12/37^b		5,168		2,493,560
6.00%, 11/15/26^b		8,000		4,100,000
8.50%, 11/02/17^b		32,546		25,222,840
9.00%, 11/17/21^b		15,860		10,546,900
9.75%, 05/17/35^b		11,305		6,896,050
12.75%, 02/17/22^b		4,260		3,471,900

				59,538,684

TOTAL FOREIGN AGENCY OBLIGATIONS (Cost: $710,741,274)				666,763,971

FOREIGN GOVERNMENT OBLIGATIONS^a — 77.81%

ANGOLA — 0.44%
Angola (Republic of)
7.00%, 08/16/19^b		14,244		15,169,860

				15,169,860

ARGENTINA — 1.76%
Argentina (Republic of)
2.50%, 12/31/38^c		63,096		22,399,080
8.28%, 12/31/33		43,176		26,768,971
8.28%, 12/31/33		18,092		11,036,058

				60,204,109

BRAZIL — 4.98%
Brazil (Federative Republic of)
2.63%, 01/05/23		34,760		29,806,700
4.25%, 01/07/25		1,000		940,000
4.88%, 01/22/21		10,450		10,920,250
5.63%, 01/07/41		15,600		14,820,000
5.88%, 01/15/19		6,434		7,183,561
6.00%, 01/17/17		13,946		15,438,222


Security	Principal (000s)		Value

7.13%, 01/20/37	$	16,519	$	18,625,173
8.25%, 01/20/34		20,145		25,332,337
8.75%, 02/04/25		1,000		1,315,000
10.13%, 05/15/27		16,696		24,584,860
11.00%, 08/17/40 (Call 08/17/15)		18,537		21,076,569

				170,042,672

CHILE — 0.74%
Chile (Republic of)
3.25%, 09/14/21		12,495		12,432,525
3.88%, 08/05/20		12,320		12,997,600

				25,430,125

COLOMBIA — 4.51%
Colombia (Republic of)
2.63%, 03/15/23 (Call 12/15/22)		10,600		9,248,500
4.00%, 02/26/24		16,000		15,320,000
4.38%, 07/12/21		19,110		19,520,865
6.13%, 01/18/41		24,735		26,095,425
7.38%, 01/27/17		15,938		18,392,452
7.38%, 03/18/19		26,599		31,759,206
7.38%, 09/18/37		19,702		23,888,675
8.13%, 05/21/24		7,805		9,931,862

				154,156,985

COSTA RICA — 0.34%
Costa Rica (Republic of)
4.25%, 01/26/23^b		13,021		11,588,690

				11,588,690

CROATIA — 2.99%
Croatia (Republic of)
5.50%, 04/04/23^b		31,600		30,138,500
6.00%, 01/26/24^b		8,000		7,800,000
6.25%, 04/27/17^b		11,220		11,851,125
6.38%, 03/24/21^b		25,350		26,205,562
6.63%, 07/14/20^b		13,610		14,375,562
6.75%, 11/05/19^b		11,181		11,935,718

				102,306,467

DOMINICAN REPUBLIC — 1.03%
Dominican Republic
5.88%, 04/18/24^b		14,200		13,561,000
7.50%, 05/06/21^b		19,878		21,617,325

				35,178,325

EGYPT — 0.39%
Egypt (Arab Republic of)
5.75%, 04/29/20^b		13,621		13,382,633

				13,382,633

EL SALVADOR — 0.30%
El Salvador (Republic of)
7.65%, 06/15/35^b		10,892		10,401,860

				10,401,860


Security	Principal (000s)		Value

GABON — 0.15%
Gabonese (Republic of)
6.38%, 12/12/24^d	$	3,000	$	3,067,500
6.38%, 12/12/24^b		2,000		2,045,000

				5,112,500

GHANA — 0.40%
Ghana (Republic of)
7.88%, 08/07/23^b		14,700		13,707,750

				13,707,750

HUNGARY — 3.53%
Hungary (Republic of)
4.13%, 02/19/18		13,120		13,083,264
5.38%, 02/21/23		23,476		22,988,873
5.75%, 11/22/23		14,000		13,854,120
6.25%, 01/29/20		15,153		16,128,550
6.38%, 03/29/21		32,834		34,948,510
7.63%, 03/29/41		18,588		19,709,042

				120,712,359

INDONESIA — 3.81%
Indonesia (Republic of)
3.38%, 04/15/23^b		7,900		6,784,125
4.63%, 04/15/43^b		7,540		5,805,800
4.88%, 05/05/21^b		16,920		16,750,800
5.25%, 01/17/42^b		13,448		11,262,700
5.38%, 10/17/23^b		4,000		3,980,000
6.63%, 02/17/37^b		16,612		16,445,880
6.75%, 01/15/44^d		3,500		3,526,250
6.88%, 03/09/17^b		18,500		20,627,500
6.88%, 01/17/18^b		15,343		17,145,802
7.75%, 01/17/38^b		12,128		13,462,080
8.50%, 10/12/35^b		8,220		9,761,250
11.63%, 03/04/19^b		3,649		4,816,680

				130,368,867

IRAQ — 0.85%
Iraq (Republic of)
5.80%, 01/15/28^b (Call 03/17/14)		34,554		28,938,975

				28,938,975

IVORY COAST — 0.80%
Ivory Coast (Republic of)
7.77%, 12/31/32^b,c		32,011		27,449,433

				27,449,433

LATVIA — 0.85%
Latvia (Republic of)
2.75%, 01/12/20^b		12,086		11,528,231
5.25%, 02/22/17^b		16,257		17,665,181

				29,193,412


Security	Principal (000s)		Value

LEBANON — 3.06%
Lebanon (Republic of)
5.15%, 11/12/18^b	$	6,010	$	5,799,650
6.00%, 01/27/23^b		9,922		9,549,925
6.10%, 10/04/22^b		15,690		15,297,750
6.38%, 03/09/20		10,062		10,263,240
6.75%, 11/29/27^b		16,992		16,779,600
8.25%, 04/12/21^b		20,706		23,087,190
9.00%, 03/20/17		21,388		23,740,680

				104,518,035

LITHUANIA — 2.14%
Lithuania (Republic of)
6.13%, 03/09/21^b		24,710		27,878,810
6.63%, 02/01/22^b		16,390		19,044,524
7.38%, 02/11/20^b		22,005		26,364,851

				73,288,185

MEXICO — 3.70%
United Mexican States
3.63%, 03/15/22		23,540		23,151,590
4.00%, 10/02/23		44,744		44,184,700
4.75%, 03/08/44		12,754		11,319,175
5.63%, 01/15/17		8,614		9,561,540
5.75%, 10/12/49		4,458		4,090,215
5.95%, 03/19/19		6,282		7,255,710
6.05%, 01/11/40		12,324		13,186,680
6.75%, 09/27/34		11,562		13,527,540
7.50%, 04/08/33		113		142,380

				126,419,530

MONGOLIA — 0.32%
Mongolia (Government of)
5.13%, 12/05/22^b		13,500		10,867,500

				10,867,500

MOROCCO — 0.52%
Morocco (Republic of)
4.25%, 12/11/22^b		19,276		17,902,585

				17,902,585

PANAMA — 1.61%
Panama (Republic of)
5.20%, 01/30/20		18,823		20,375,898
6.70%, 01/26/36		30,984		34,469,700

				54,845,598

PERU — 3.52%
Peru (Republic of)
5.63%, 11/18/50		18,018		18,108,090
6.55%, 03/14/37		6,722		7,713,495
7.13%, 03/30/19		15,275		18,253,625
7.35%, 07/21/25		23,624		29,530,000
8.75%, 11/21/33		32,883		46,611,652

				120,216,862


Security	Principal (000s)		Value

PHILIPPINES — 5.17%
Philippines (Republic of the)
4.00%, 01/15/21	$	30,700	$	31,736,125
5.00%, 01/13/37		17,194		17,860,267
5.50%, 03/30/26		14,000		15,435,000
6.38%, 01/15/32		10,330		12,189,400
6.38%, 10/23/34		15,848		18,859,120
7.75%, 01/14/31		21,827		28,757,072
8.38%, 06/17/19		13,825		17,557,750
9.50%, 02/02/30		12,310		18,434,225
10.63%, 03/16/25		10,313		15,856,238

				176,685,197

POLAND — 3.82%
Poland (Republic of)
3.00%, 03/17/23		25,029		22,917,804
4.00%, 01/22/24		3,000		2,920,584
5.00%, 03/23/22		32,174		34,426,180
5.13%, 04/21/21		20,830		22,678,663
6.38%, 07/15/19		40,507		47,429,646

				130,372,877

ROMANIA — 1.70%
Romania (Republic of)
4.38%, 08/22/23^d		3,450		3,286,125
4.38%, 08/22/23^b		39,112		37,254,180
6.13%, 01/22/44^d		9,440		9,204,000
6.75%, 02/07/22^b		7,244		8,176,665

				57,920,970

RUSSIA — 5.05%
Russian Federation (The)
3.25%, 04/04/17^b		8,600		8,987,000
4.50%, 04/04/22^b		3,400		3,400,000
5.00%, 04/29/20^b		11,700		12,402,000
5.63%, 04/04/42^b		18,000		17,460,000
5.88%, 09/16/43^b		6,800		6,723,500
7.50%, 03/31/30^b,c		71,516		82,422,703
11.00%, 07/24/18^b		16,559		22,189,060
12.75%, 06/24/28^b		11,295		18,975,600

				172,559,863

SERBIA — 1.69%
Serbia (Republic of)
4.88%, 02/25/20^b		28,692		27,257,400
5.88%, 12/03/18^b		4,800		4,878,000
7.25%, 09/28/21^b		24,474		25,667,108

				57,802,508

SLOVAKIA — 0.63%
Slovakia (Republic of)
4.38%, 05/21/22^b		20,586		21,367,856

				21,367,856


Security	Principal (000s)		Value

SOUTH AFRICA — 2.65%
South Africa (Republic of)
4.67%, 01/17/24	$	17,438	$	16,587,898
5.50%, 03/09/20		8,222		8,663,933
5.88%, 05/30/22		16,630		17,565,437
5.88%, 09/16/25		24,700		25,348,375
6.88%, 05/27/19		19,822		22,299,750

				90,465,393

SRI LANKA — 1.43%
Sri Lanka (Democratic Socialist Republic of)
5.88%, 07/25/22^b		8,884		8,439,800
6.00%, 01/14/19^d		10,000		10,150,000
6.25%, 10/04/20^b		12,910		12,942,275
6.25%, 07/27/21^b		17,606		17,429,940

				48,962,015

TURKEY — 5.81%
Turkey (Republic of)
3.25%, 03/23/23		21,190		17,402,287
4.88%, 04/16/43		9,650		7,346,063
5.63%, 03/30/21		9,000		9,033,750
5.75%, 03/22/24		4,500		4,398,750
6.00%, 01/14/41		15,170		13,539,225
6.25%, 09/26/22		14,000		14,367,500
6.75%, 04/03/18		12,857		13,917,703
6.75%, 05/30/40		10,031		9,880,535
6.88%, 03/17/36		20,959		21,116,192
7.00%, 09/26/16		11,100		12,112,875
7.00%, 03/11/19		10,450		11,429,688
7.00%, 06/05/20		27,778		30,312,742
7.25%, 03/05/38		6,132		6,469,260
7.50%, 07/14/17		12,432		13,892,760
8.00%, 02/14/34		11,659		13,232,965

				198,452,295

UKRAINE — 3.07%
Ukraine (Government of)
6.25%, 06/17/16^b		12,960		11,534,400
6.58%, 11/21/16^b		10,660		9,487,400
7.50%, 04/17/23^d		4,500		3,825,000
7.50%, 04/17/23^b		7,900		6,715,000
7.75%, 09/23/20^b		14,214		12,259,575
7.80%, 11/28/22^b		28,209		23,977,650
7.95%, 02/23/21^b		13,275		11,449,688
9.25%, 07/24/17^b		27,475		25,757,812

				105,006,525

URUGUAY — 1.64%
Uruguay (Republic of)
4.50%, 08/14/24		4,334		4,268,990
7.63%, 03/21/36		26,516		32,216,940
7.88%, 01/15/33^e		15,711		19,403,085

				55,889,015


Security	Principal or Shares (000s)		Value

VENEZUELA — 1.99%
Venezuela (Bolivarian Republic of)
6.00%, 12/09/20^b	$	5,000	$	2,925,000
7.00%, 12/01/18^b		3,400		2,329,000
7.00%, 03/31/38^b		7,734		4,253,700
7.65%, 04/21/25		5,200		3,029,000
7.75%, 10/13/19^b		13,447		9,043,107
8.25%, 10/13/24^b		16,536		9,962,940
9.00%, 05/07/23^b		14,189		9,080,960
9.25%, 09/15/27		6,784		4,443,520
9.25%, 05/07/28^b		4,998		3,136,245
9.38%, 01/13/34		7,782		4,883,205
11.75%, 10/21/26^b		7,594		5,676,515
11.95%, 08/05/31^b		8,902		6,543,117
12.75%, 08/23/22^b		3,437		2,809,748

				68,116,057

VIETNAM — 0.42%
Vietnam (Socialist Republic of)
6.75%, 01/29/20^b		13,486		14,480,593

				14,480,593

TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost: $2,829,188,313)				2,659,484,481

SHORT-TERM INVESTMENTS — 0.75%

MONEY MARKET FUNDS — 0.75%
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^f,g		25,746		25,745,511

				25,745,511

TOTAL SHORT-TERM INVESTMENTS (Cost: $25,745,511)				25,745,511


TOTAL INVESTMENTS IN SECURITIES — 98.75% (Cost: $3,589,357,722)				3,375,104,931
Other Assets, Less Liabilities — 1.25%				42,743,364

NET ASSETS — 100.00%			$	3,417,848,295

^a	Investments are denominated in U.S. dollars.

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

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

^d	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^e	Payment-in-kind (PIK) security. Income may be paid in cash or additional securities at the issuer’s discretion.

^f	Affiliated issuer. See Note 2.

^g	The rate quoted is the annualized seven-day yield of the fund at period end.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 96.85%

AEROSPACE & DEFENSE — 1.98%
Honeywell International Inc.
5.40%, 03/15/16	$	200	$	219,891
Precision Castparts Corp.
0.70%, 12/20/15		100		100,221
United Technologies Corp.
4.88%, 05/01/15		350		369,363

				689,475
AUTO COMPONENTS — 0.47%
Johnson Controls Inc.
5.50%, 01/15/16		150		162,545

				162,545
BEVERAGES — 6.30%
Anheuser-Busch InBev Finance Inc.
0.80%, 01/15/16		200		200,497
Anheuser-Busch InBev Worldwide Inc.
0.80%, 07/15/15		375		376,564
3.63%, 04/15/15		300		311,504
Brown-Forman Corp.
2.50%, 01/15/16		50		51,812
Coca-Cola Co. (The)
1.50%, 11/15/15		400		407,676
Coca-Cola Enterprises Inc.
2.13%, 09/15/15		100		102,275
Diageo Finance BV
5.30%, 10/28/15		225		242,834
Dr Pepper Snapple Group Inc.
2.90%, 01/15/16		50		52,002
PepsiCo Inc.
0.70%, 08/13/15		250		250,679
0.70%, 02/26/16		200		200,074

				2,195,917
BIOTECHNOLOGY — 0.30%
Genzyme Corp.
3.63%, 06/15/15		100		104,251

				104,251
CHEMICALS — 2.43%
Dow Chemical Co. (The)
2.50%, 02/15/16		25		25,749
E.I. du Pont de Nemours and Co.
1.95%, 01/15/16^a		150		153,600
Ecolab Inc.
1.00%, 08/09/15		150		150,539
Potash Corp. of Saskatchewan Inc.
3.75%, 09/30/15		250		262,028
Praxair Inc.
0.75%, 02/21/16		150		150,116


Security	Principal (000s)		Value

3.25%, 09/15/15	$	100	$	104,417

				846,449
COMMERCIAL SERVICES & SUPPLIES — 0.86%
Unilever Capital Corp.
0.45%, 07/30/15		300		299,723

				299,723
COMMUNICATIONS EQUIPMENT — 2.82%
Cisco Systems Inc.
5.50%, 02/22/16		800		878,993
Juniper Networks Inc.
3.10%, 03/15/16		100		103,409

				982,402
COMPUTERS & PERIPHERALS — 0.44%
Hewlett-Packard Co.
2.13%, 09/13/15		100		101,974
2.20%, 12/01/15		50		50,893

				152,867
CONSUMER FINANCE — 7.96%
Caterpillar Financial Services Corp.
0.70%, 11/06/15		350		351,092
0.70%, 02/26/16		400		400,559
John Deere Capital Corp.
0.70%, 09/04/15		100		100,377
0.75%, 01/22/16		400		398,345
0.95%, 06/29/15		150		150,923
PACCAR Financial Corp.
0.80%, 02/08/16		200		199,553
1.05%, 06/05/15		250		250,961
Toyota Motor Credit Corp.
0.88%, 07/17/15		400		402,403
2.80%, 01/11/16		350		364,918
3.20%, 06/17/15		150		155,528

				2,774,659
DIVERSIFIED FINANCIAL SERVICES — 3.88%
BP Capital Markets PLC
0.70%, 11/06/15		300		300,567
3.13%, 10/01/15		450		468,874
3.20%, 03/11/16		100		105,139
Deutsche Telekom International Finance BV
5.75%, 03/23/16		150		164,700
National Rural Utilities Cooperative Finance Corp.
3.05%, 03/01/16		200		206,743
3.88%, 09/16/15		100		105,001

				1,351,024
DIVERSIFIED TELECOMMUNICATION SERVICES — 4.76%
AT&T Inc.
0.80%, 12/01/15		300		299,880
0.90%, 02/12/16		425		424,898
Orange
2.13%, 09/16/15		50		50,894


Security	Principal (000s)		Value

Telefonica Emisiones SAU
3.99%, 02/16/16	$	150	$	157,761
Verizon Communications Inc.
0.70%, 11/02/15		400		399,291
5.55%, 02/15/16		300		326,447

				1,659,171
ELECTRIC UTILITIES — 7.34%
Alabama Power Co.
0.55%, 10/15/15		275		273,458
Duke Energy Carolinas LLC
5.30%, 10/01/15		250		268,751
Duke Energy Corp.
3.35%, 04/01/15		100		103,118
Duke Energy Florida Inc.
0.65%, 11/15/15		250		248,620
Exelon Corp.
4.90%, 06/15/15		150		157,420
Georgia Power Co.
0.75%, 08/10/15		150		149,859
Series 12D
0.63%, 11/15/15		50		49,675
LG&E and KU Energy LLC
2.13%, 11/15/15		150		152,549
Louisville Gas & Electric Co.
1.63%, 11/15/15		250		253,781
NextEra Energy Capital Holdings Inc.
1.20%, 06/01/15		50		50,203
7.88%, 12/15/15		50		55,800
Northern States Power Co.
1.95%, 08/15/15 (Call 05/15/15)		150		152,709
Southern California Edison Co.
5.00%, 01/15/16		175		188,728
Southern Co. (The)
2.38%, 09/15/15		150		153,281
Union Electric Co.
5.40%, 02/01/16		125		135,184
Wisconsin Electric Power Co.
6.25%, 12/01/15		150		164,841

				2,557,977
ELECTRICAL EQUIPMENT — 1.47%
Eaton Corp.
0.95%, 11/02/15		250		251,165
Emerson Electric Co.
4.13%, 04/15/15		250		260,995

				512,160
ENERGY EQUIPMENT & SERVICES — 0.60%
Ensco PLC
3.25%, 03/15/16		100		104,471
Noble Holding International Ltd.
3.45%, 08/01/15		50		51,742
Transocean Inc.
4.95%, 11/15/15		50		53,472

				209,685


Security	Principal (000s)		Value

FOOD & STAPLES RETAILING — 3.71%
Costco Wholesale Corp.
0.65%, 12/07/15	$	350	$	351,017
CVS Caremark Corp.
3.25%, 05/18/15		50		51,668
Kroger Co. (The)
3.90%, 10/01/15		25		26,331
Sysco Corp.
0.55%, 06/12/15		150		150,179
Wal-Mart Stores Inc.
1.50%, 10/25/15		400		405,281
2.25%, 07/08/15		300		307,233

				1,291,709
FOOD PRODUCTS — 1.34%
Bunge Ltd. Finance Corp.
4.10%, 03/15/16		75		79,361
ConAgra Foods Inc.
1.30%, 01/25/16		50		50,292
Kraft Foods Group Inc.
1.63%, 06/04/15		125		126,689
Mondelez International Inc.
4.13%, 02/09/16		200		212,639

				468,981
GAS UTILITIES — 0.29%
Questar Corp.
2.75%, 02/01/16		100		102,152

				102,152
HEALTH CARE EQUIPMENT & SUPPLIES — 1.67%
Boston Scientific Corp.
6.25%, 11/15/15		100		109,486
Covidien International Finance SA
1.35%, 05/29/15		50		50,454
Medtronic Inc.
2.63%, 03/15/16		100		104,151
Series B
4.75%, 09/15/15		200		213,742
St. Jude Medical Inc.
2.50%, 01/15/16		100		102,776

				580,609
HEALTH CARE PROVIDERS & SERVICES — 1.05%
AmerisourceBergen Corp.
5.88%, 09/15/15^a		75		81,132
Cardinal Health Inc.
4.00%, 06/15/15		75		78,308
McKesson Corp.
0.95%, 12/04/15		100		100,197
Medco Health Solutions Inc.
2.75%, 09/15/15		50		51,493
Quest Diagnostics Inc.
5.45%, 11/01/15		50		53,675

				364,805


Security	Principal (000s)		Value

HOTELS, RESTAURANTS & LEISURE — 0.60%
Carnival Corp.
1.20%, 02/05/16	$	50	$	49,761
Marriott International Inc.
5.81%, 11/10/15		100		108,325
McDonald’s Corp.
0.75%, 05/29/15		50		50,224

				208,310
HOUSEHOLD DURABLES — 0.29%
Newell Rubbermaid Inc.
2.00%, 06/15/15		100		101,411

				101,411
HOUSEHOLD PRODUCTS — 2.54%
Colgate-Palmolive Co.
3.15%, 08/05/15		100		104,059
Kimberly-Clark Corp.
4.88%, 08/15/15		150		159,899
Procter & Gamble Co. (The)
1.80%, 11/15/15		450		460,307
4.85%, 12/15/15		150		161,376

				885,641
INDUSTRIAL CONGLOMERATES — 1.87%
General Electric Co.
0.85%, 10/09/15		650		653,142

				653,142
INTERNET & CATALOG RETAIL — 0.14%
Amazon.com Inc.
0.65%, 11/27/15		50		50,080

				50,080
INTERNET SOFTWARE & SERVICES — 0.58%
eBay Inc.
0.70%, 07/15/15		100		100,330
1.63%, 10/15/15		100		101,733

				202,063
IT SERVICES — 1.89%
Computer Sciences Corp.
2.50%, 09/15/15		50		51,072
International Business Machines Corp.
0.75%, 05/11/15		400		401,976
2.00%, 01/05/16		200		204,613

				657,661
LIFE SCIENCES TOOLS & SERVICES — 0.90%
Agilent Technologies Inc.
5.50%, 09/14/15		50		53,653
Life Technologies Corp.
3.50%, 01/15/16		50		52,393


Security	Principal (000s)		Value

Thermo Fisher Scientific Inc.
3.20%, 03/01/16	$	200	$	209,379

				315,425
MEDIA — 2.08%
COX Communications Inc.
5.50%, 10/01/15		50		53,569
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
3.50%, 03/01/16		200		210,019
Discovery Communications LLC
3.70%, 06/01/15		100		103,903
NBCUniversal Media LLC
3.65%, 04/30/15		100		103,832
Time Warner Inc.
3.15%, 07/15/15		150		155,109
Walt Disney Co. (The)
0.45%, 12/01/15		100		99,996

				726,428
METALS & MINING — 2.29%
BHP Billiton Finance (USA) Ltd.
5.25%, 12/15/15		300		325,742
Glencore Canada Corp.
6.00%, 10/15/15		100		107,614
Rio Tinto Finance (USA) Ltd.
1.88%, 11/02/15		250		254,747
Vale Overseas Ltd.
6.25%, 01/11/16		100		108,742

				796,845
MULTI-UTILITIES — 1.29%
Consolidated Edison Co. of New York Inc.
Series 05-C
5.38%, 12/15/15		150		161,755
Dominion Resources Inc.
Series C
5.15%, 07/15/15		175		185,752
Public Service Electric & Gas Co.
2.70%, 05/01/15		100		102,786

				450,293
OFFICE ELECTRONICS — 0.16%
Xerox Corp.
6.40%, 03/15/16		50		55,251

				55,251
OIL, GAS & CONSUMABLE FUELS — 9.80%
Colorado Interstate Gas Co. LLC
6.80%, 11/15/15		50		55,296
DCP Midstream Operating LP
3.25%, 10/01/15		50		51,191
Enterprise Products Operating LLC
1.25%, 08/13/15		150		151,183
3.20%, 02/01/16		100		104,484
EOG Resources Inc.
2.50%, 02/01/16		250		258,760
Kinder Morgan Energy Partners LP
3.50%, 03/01/16		50		52,346


Security	Principal (000s)		Value

Marathon Oil Corp.
0.90%, 11/01/15	$	50	$	50,137
Marathon Petroleum Corp.
3.50%, 03/01/16		150		157,514
Occidental Petroleum Corp.
2.50%, 02/01/16		300		311,120
ONEOK Partners LP
3.25%, 02/01/16 (Call 01/01/16)		50		52,100
Petrohawk Energy Corp.
7.88%, 06/01/15 (Call 02/03/14)		75		76,477
Shell International Finance BV
0.63%, 12/04/15		150		150,283
3.10%, 06/28/15		450		466,644
3.25%, 09/22/15		250		261,049
Total Capital International SA
0.75%, 01/25/16		300		300,520
Total Capital SA
2.30%, 03/15/16		250		258,078
3.00%, 06/24/15		200		206,634
TransCanada PipeLines Ltd.
0.75%, 01/15/16		350		349,919
3.40%, 06/01/15		100		103,764

				3,417,499
PHARMACEUTICALS — 9.83%
AbbVie Inc.
1.20%, 11/06/15		250		252,663
GlaxoSmithKline Capital Inc.
0.70%, 03/18/16		450		449,886
GlaxoSmithKline Capital PLC
0.75%, 05/08/15		350		351,496
Merck & Co. Inc.
2.25%, 01/15/16		350		359,194
4.00%, 06/30/15		300		314,722
Novartis Capital Corp.
2.90%, 04/24/15		550		567,122
Sanofi
2.63%, 03/29/16		450		468,427
Teva Pharmaceutical Finance II/III LLC
3.00%, 06/15/15		300		309,146
Wyeth LLC
5.50%, 02/15/16		300		327,932
Zoetis Inc.
1.15%, 02/01/16		25		25,118

				3,425,706
REAL ESTATE INVESTMENT TRUSTS (REITS) — 0.46%
Plum Creek Timberlands LP
5.88%, 11/15/15		150		161,920

				161,920
ROAD & RAIL — 0.61%
CSX Corp.
6.25%, 04/01/15		100		106,543
Norfolk Southern Corp.
5.75%, 01/15/16		50		54,678
Ryder System Inc.
3.60%, 03/01/16		50		51,518

				212,739


Security	Principal or Shares (000s)		Value

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.31%
Broadcom Corp.
2.38%, 11/01/15	$	150	$	153,933
National Semiconductor Corp.
3.95%, 04/15/15		100		104,250
Texas Instruments Inc.
0.45%, 08/03/15		200		199,754

				457,937
SOFTWARE — 3.96%
Microsoft Corp.
1.63%, 09/25/15		350		356,276
2.50%, 02/08/16		250		259,972
Oracle Corp.
5.25%, 01/15/16		700		762,726

				1,378,974
SPECIALTY RETAIL — 3.58%
Home Depot Inc. (The)
5.40%, 03/01/16		800		877,416
Lowe’s Companies Inc.
5.00%, 10/15/15		200		214,511
TJX Companies Inc. (The)
4.20%, 08/15/15		150		157,803

				1,249,730
TOBACCO — 0.60%
Altria Group Inc.
4.13%, 09/11/15		150		158,061
Reynolds American Inc.
1.05%, 10/30/15		50		50,206

				208,267
WIRELESS TELECOMMUNICATION SERVICES — 2.40%
Alltel Corp.
7.00%, 03/15/16		150		168,032
Vodafone Group PLC
0.90%, 02/19/16		300		299,927
2.88%, 03/16/16		250		260,035
5.75%, 03/15/16		100		110,033

				838,027

TOTAL CORPORATE BONDS & NOTES
(Cost: $33,710,741)				33,759,910

SHORT-TERM INVESTMENTS — 2.79%

MONEY MARKET FUNDS — 2.79%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		112		111,570


Security	Shares (000s)		Value

BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		10	$	9,593
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		854		853,538

				974,701

TOTAL SHORT-TERM INVESTMENTS
(Cost: $974,701)				974,701


TOTAL INVESTMENTS IN SECURITIES — 99.64%
(Cost: $34,685,442)				34,734,611
Other Assets, Less Liabilities — 0.36%				124,506

NET ASSETS — 100.00%			$	34,859,117

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 66.32%

AEROSPACE & DEFENSE — 0.52%
United Technologies Corp.
4.88%, 05/01/15	$	100	$	105,533

				105,533
BIOTECHNOLOGY — 0.53%
Genentech Inc.
4.75%, 07/15/15		100		106,062

				106,062
CAPITAL MARKETS — 10.30%
Bank of New York Mellon Corp. (The)
0.70%, 10/23/15 (Call 09/23/15)		350		350,503
Credit Suisse (USA) Inc.
5.13%, 08/15/15		200		213,006
Deutsche Bank AG London
3.25%, 01/11/16		150		156,743
Goldman Sachs Group Inc. (The)
3.30%, 05/03/15		250		257,593
3.63%, 02/07/16		450		471,568
Jefferies Group LLC
3.88%, 11/09/15^a		150		156,441
Morgan Stanley
1.75%, 02/25/16^a		150		151,796
5.38%, 10/15/15		300		321,807

				2,079,457
CHEMICALS — 0.54%
Dow Chemical Co. (The)
2.50%, 02/15/16		105		108,145

				108,145
COMMERCIAL BANKS — 12.50%
Bank of Montreal
0.80%, 11/06/15		100		100,417
Bank of Nova Scotia
2.90%, 03/29/16		225		235,290
BNP Paribas SA
3.60%, 02/23/16		150		158,056
Canadian Imperial Bank of Commerce
0.90%, 10/01/15		225		226,222
Fifth Third Bancorp
3.63%, 01/25/16		150		157,677
Lloyds Bank PLC
4.88%, 01/21/16		100		107,524
National Australia Bank Ltd.
1.60%, 08/07/15		250		254,295
Royal Bank of Canada
0.80%, 10/30/15		100		100,413
0.85%, 03/08/16		25		25,072
Royal Bank of Scotland Group PLC
2.55%, 09/18/15		300		306,705


Security	Principal (000s)		Value

U.S. Bancorp
3.44%, 02/01/16	$	225	$	233,976
Wells Fargo & Co.
1.50%, 07/01/15		300		304,392
Westpac Banking Corp.
3.00%, 12/09/15		300		313,197

				2,523,236
COMMUNICATIONS EQUIPMENT — 0.41%
Cisco Systems Inc.
5.50%, 02/22/16		75		82,406

				82,406
COMPUTERS & PERIPHERALS — 0.53%
Hewlett-Packard Co.
2.13%, 09/13/15		105		107,073

				107,073
CONSUMER FINANCE — 5.87%
American Express Credit Corp.
2.75%, 09/15/15		300		310,090
Capital One Financial Corp.
1.00%, 11/06/15		150		150,099
Ford Motor Credit Co. LLC
7.00%, 04/15/15		300		322,221
HSBC Finance Corp.
5.50%, 01/19/16		300		324,618
Toyota Motor Credit Corp.
2.80%, 01/11/16		75		78,197

				1,185,225
DIVERSIFIED FINANCIAL SERVICES — 13.34%
Bank of America Corp.
3.63%, 03/17/16		375		394,353
4.50%, 04/01/15		150		156,679
BBVA U.S. Senior SA Unipersonal
4.66%, 10/09/15		200		209,783
BP Capital Markets PLC
3.20%, 03/11/16		150		157,708
Citigroup Inc.
1.25%, 01/15/16		375		376,724
4.59%, 12/15/15		200		213,225
General Electric Capital Corp.
1.00%, 01/08/16		250		251,478
1.63%, 07/02/15		300		304,930
J.P. Morgan Chase & Co.
2.60%, 01/15/16		150		154,601
3.45%, 03/01/16		450		472,081

				2,691,562
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.15%
AT&T Inc.
2.50%, 08/15/15		150		154,074
Telefonica Emisiones SAU
3.99%, 02/16/16		75		78,880

				232,954


Security	Principal (000s)		Value

ELECTRIC UTILITIES — 2.03%
Duke Energy Corp.
3.35%, 04/01/15	$	75	$	77,339
Exelon Corp.
4.90%, 06/15/15		150		157,419
Georgia Power Co.
Series 12D
0.63%, 11/15/15		75		74,513
NextEra Energy Capital Holdings Inc.
1.20%, 06/01/15		100		100,407

				409,678
ELECTRICAL EQUIPMENT — 0.37%
Eaton Corp.
0.95%, 11/02/15		75		75,350

				75,350
ENERGY EQUIPMENT & SERVICES — 0.27%
Transocean Inc.
4.95%, 11/15/15		50		53,472

				53,472
FOOD & STAPLES RETAILING — 0.51%
Wal-Mart Stores Inc.
2.25%, 07/08/15		100		102,411

				102,411
FOOD PRODUCTS — 2.44%
Bunge Ltd. Finance Corp.
4.10%, 03/15/16		75		79,361
ConAgra Foods Inc.
1.30%, 01/25/16		100		100,584
Kraft Foods Group Inc.
1.63%, 06/04/15		150		152,027
Mondelez International Inc.
4.13%, 02/09/16		150		159,479

				491,451
HEALTH CARE EQUIPMENT & SUPPLIES — 0.51%
Covidien International Finance SA
2.80%, 06/15/15		100		102,846

				102,846
HEALTH CARE PROVIDERS & SERVICES — 0.81%
WellPoint Inc.
5.25%, 01/15/16		150		162,461

				162,461
HOUSEHOLD DURABLES — 0.41%
Mohawk Industries Inc.
6.13%, 01/15/16		75		82,687

				82,687


Security	Principal (000s)		Value

INSURANCE — 2.87%
Aegon NV
4.63%, 12/01/15	$	75	$	79,838
American International Group Inc.
2.38%, 08/24/15		75		76,523
MetLife Inc.
5.00%, 06/15/15		150		158,980
Prudential Financial Inc.
Series C
4.75%, 06/13/15		150		158,011
Series D
4.75%, 09/17/15		100		106,270

				579,622
LIFE SCIENCES TOOLS & SERVICES — 0.52%
Thermo Fisher Scientific Inc.
3.20%, 03/01/16		100		104,689

				104,689
MEDIA — 1.59%
Comcast Corp.
5.90%, 03/15/16		150		165,555
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
3.13%, 02/15/16		75		78,205
Time Warner Inc.
3.15%, 07/15/15		75		77,554

				321,314
METALS & MINING — 0.53%
Rio Tinto Finance (USA) Ltd.
1.88%, 11/02/15		105		106,994

				106,994
MULTI-UTILITIES — 0.26%
Dominion Resources Inc.
Series C
5.15%, 07/15/15		50		53,072

				53,072
OFFICE ELECTRONICS — 0.27%
Xerox Corp.
6.40%, 03/15/16		50		55,251

				55,251
OIL, GAS & CONSUMABLE FUELS — 2.32%
Enterprise Products Operating LLC
3.20%, 02/01/16		150		156,725
Plains All American Pipeline LP/PAA Finance Corp.
3.95%, 09/15/15		50		52,523
Shell International Finance BV
3.10%, 06/28/15		100		103,699
Total Capital SA
2.30%, 03/15/16		150		154,847

				467,794


Security	Principal or Shares (000s)		Value

PHARMACEUTICALS — 1.12%
AbbVie Inc.
1.20%, 11/06/15	$	150	$	151,598
GlaxoSmithKline Capital Inc.
0.70%, 03/18/16		75		74,981

				226,579
REAL ESTATE INVESTMENT TRUSTS (REITS) — 1.47%
Health Care REIT Inc.
3.63%, 03/15/16		75		77,977
Kilroy Realty Corp.
5.00%, 11/03/15		105		111,131
Vornado Realty Trust
4.25%, 04/01/15 (Call 01/01/15)		105		108,192

				297,300
SOFTWARE — 0.50%
Microsoft Corp.
1.63%, 09/25/15		100		101,793

				101,793
SPECIALTY RETAIL — 0.94%
Home Depot Inc. (The)
5.40%, 03/01/16		75		82,258
Lowe’s Companies Inc.
5.00%, 10/15/15		100		107,255

				189,513
TOBACCO — 0.52%
Altria Group Inc.
4.13%, 09/11/15		100		105,374

				105,374
WIRELESS TELECOMMUNICATION SERVICES — 0.37%
Vodafone Group PLC
0.90%, 02/19/16		75		74,982

				74,982

TOTAL CORPORATE BONDS & NOTES
(Cost: $13,310,922)				13,386,286

INVESTMENT COMPANIES — 29.99%
iSharesBond Mar 2016 Corporate ex-Financials Term ETF^b		61		6,052,414

TOTAL INVESTMENT COMPANIES
(Cost: $6,004,735)				6,052,414


Security	Shares (000s)		Value

SHORT-TERM INVESTMENTS — 4.77%

MONEY MARKET FUNDS — 4.77%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		212	$	212,259
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		18		18,251
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		733		732,845

				963,355

TOTAL SHORT-TERM INVESTMENTS
(Cost: $963,355)				963,355


TOTAL INVESTMENTS IN SECURITIES — 101.08%
(Cost: $20,279,012)				20,402,055
Other Assets, Less Liabilities — (1.08)%				(218,106	)

NET ASSETS — 100.00%			$	20,183,949

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 97.33%

AEROSPACE & DEFENSE — 4.90%
General Dynamics Corp.
1.00%, 11/15/17	$	1,150	$	1,123,404
Honeywell International Inc.
5.30%, 03/01/18		1,650		1,890,712
Precision Castparts Corp.
1.25%, 01/15/18		1,500		1,479,662
United Technologies Corp.
1.80%, 06/01/17^a		4,100		4,187,994

				8,681,772
AIR FREIGHT & LOGISTICS — 0.72%
United Parcel Service Inc.
1.13%, 10/01/17		1,100		1,096,189
5.50%, 01/15/18		150		172,740

				1,268,929
BEVERAGES — 8.14%
Anheuser-Busch InBev Finance Inc.
1.25%, 01/17/18		1,950		1,925,746
Anheuser-Busch InBev Worldwide Inc.
1.38%, 07/15/17		2,600		2,599,401
Brown-Forman Corp.
1.00%, 01/15/18		700		684,620
Coca-Cola Co. (The)
1.65%, 03/14/18^a		1,950		1,965,134
5.35%, 11/15/17		1,100		1,254,877
Diageo Capital PLC
1.50%, 05/11/17		3,500		3,516,554
5.75%, 10/23/17		200		229,665
PepsiCo Inc.
1.25%, 08/13/17		2,250		2,243,665

				14,419,662
BIOTECHNOLOGY — 0.64%
Amgen Inc.
2.13%, 05/15/17^a		1,100		1,127,976

				1,127,976
CHEMICALS — 1.83%
Eastman Chemical Co.
2.40%, 06/01/17		450		460,429
Ecolab Inc.
1.45%, 12/08/17		500		493,846
Potash Corp. of Saskatchewan Inc.
3.25%, 12/01/17		100		106,103
PPG Industries Inc.
6.65%, 03/15/18		100		117,506
Praxair Inc.
1.05%, 11/07/17		1,150		1,129,790
Rohm and Haas Co.
6.00%, 09/15/17		130		148,904


Security	Principal (000s)		Value

Sherwin-Williams Co. (The)
1.35%, 12/15/17	$	800	$	788,604

				3,245,182
COMMERCIAL SERVICES & SUPPLIES — 0.51%
Catholic Health Initiatives
1.60%, 11/01/17		220		216,272
Unilever Capital Corp.
0.85%, 08/02/17		700		688,495

				904,767
COMPUTERS & PERIPHERALS — 0.75%
Hewlett-Packard Co.
2.60%, 09/15/17^a		1,050		1,077,389
NetApp Inc.
2.00%, 12/15/17		250		250,817

				1,328,206
CONSUMER FINANCE — 6.08%
Caterpillar Financial Services Corp.
1.30%, 03/01/18		1,800		1,775,560
1.63%, 06/01/17		1,100		1,112,274
Series G
1.25%, 11/06/17		350		346,404
Ford Motor Credit Co. LLC
3.00%, 06/12/17		1,000		1,037,929
John Deere Capital Corp.
1.20%, 10/10/17^a		250		248,369
1.30%, 03/12/18		1,800		1,779,633
Toyota Motor Credit Corp.
1.25%, 10/05/17^a		2,250		2,240,995
1.38%, 01/10/18		300		298,169
1.75%, 05/22/17		1,900		1,934,293

				10,773,626
DIVERSIFIED FINANCIAL SERVICES — 2.42%
BP Capital Markets PLC
1.38%, 11/06/17		2,700		2,684,555
1.85%, 05/05/17		350		356,285
National Rural Utilities Cooperative Finance Corp.
5.45%, 04/10/17		500		559,788
5.45%, 02/01/18		600		681,296

				4,281,924
DIVERSIFIED TELECOMMUNICATION SERVICES — 4.81%
AT&T Inc.
1.40%, 12/01/17		1,700		1,679,779
1.70%, 06/01/17		1,300		1,309,607
5.50%, 02/01/18^a		1,900		2,157,938
Nippon Telegraph & Telephone Corp.
1.40%, 07/18/17		600		597,341
Verizon Communications Inc.
1.10%, 11/01/17^a		1,050		1,029,010
5.50%, 04/01/17		100		111,363
5.50%, 02/15/18		1,450		1,648,069

				8,533,107


Security	Principal (000s)		Value

ELECTRIC UTILITIES — 5.73%
Alabama Power Co.
5.50%, 10/15/17	$	150	$	167,791
American Electric Power Co. Inc.
1.65%, 12/15/17 (Call 11/15/17)		600		586,022
Commonwealth Edison Co.
5.80%, 03/15/18		250		289,714
Duke Energy Carolinas LLC
5.25%, 01/15/18		150		169,947
Duke Energy Corp.
1.63%, 08/15/17		1,100		1,103,516
Georgia Power Co.
Series B
5.70%, 06/01/17		250		280,435
MidAmerican Energy Co.
5.30%, 03/15/18		1,100		1,251,569
Nisource Finance Corp.
6.40%, 03/15/18		500		583,059
Northern States Power Co.
5.25%, 03/01/18		1,200		1,363,528
Pacific Gas & Electric Co.
5.63%, 11/30/17		100		113,372
Peco Energy Co.
5.35%, 03/01/18		1,500		1,709,658
Pennsylvania Electric Co.
6.05%, 09/01/17		100		112,086
Union Electric Co.
6.40%, 06/15/17		150		172,252
Virginia Electric and Power Co.
1.20%, 01/15/18 (Call 12/15/17)		2,300		2,262,686

				10,165,635

ELECTRICAL EQUIPMENT — 0.65%
ABB Finance (USA) Inc.
1.63%, 05/08/17		350		350,477
Eaton Corp.
1.50%, 11/02/17		450		448,172
Roper Industries Inc.
1.85%, 11/15/17		350		347,940

				1,146,589

ENERGY EQUIPMENT & SERVICES — 0.91%
Nabors Industries Inc.
6.15%, 02/15/18		250		282,943
National Oilwell Varco Inc.
1.35%, 12/01/17		550		544,463
Transocean Inc.
2.50%, 10/15/17		550		558,153
Weatherford International Ltd.
6.00%, 03/15/18		200		225,701

				1,611,260

FOOD & STAPLES RETAILING — 4.16%
Costco Wholesale Corp.
1.13%, 12/15/17		1,250		1,235,599
CVS Caremark Corp.
5.75%, 06/01/17		550		624,907
Delhaize Brothers and Co. “The Lion” (Delhaize Group)
6.50%, 06/15/17		100		113,613


Security	Principal (000s)		Value

Kroger Co. (The)
6.40%, 08/15/17	$	100	$	115,770
Safeway Inc.
6.35%, 08/15/17		100		113,027
Sysco Corp.
5.25%, 02/12/18		200		227,000
Wal-Mart Stores Inc.
5.38%, 04/05/17^a		350		397,397
5.80%, 02/15/18		2,850		3,330,330
Walgreen Co.
1.80%, 09/15/17		1,200		1,210,444

				7,368,087

FOOD PRODUCTS — 2.47%
Archer-Daniels-Midland Co.
5.45%, 03/15/18		1,650		1,885,022
Bunge Ltd. Finance Corp.
3.20%, 06/15/17		250		259,054
ConAgra Foods Inc.
1.90%, 01/25/18		550		547,797
Kraft Foods Group Inc.
2.25%, 06/05/17		450		460,049
Mondelez International Inc.
6.13%, 02/01/18		500		578,802
6.50%, 08/11/17		550		640,395

				4,371,119

HEALTH CARE EQUIPMENT & SUPPLIES — 0.65%
Covidien International Finance SA
6.00%, 10/15/17		400		458,991
CR Bard Inc.
1.38%, 01/15/18		700		687,501

				1,146,492

HEALTH CARE PROVIDERS & SERVICES — 0.99%
Cardinal Health Inc.
1.70%, 03/15/18		500		496,343
McKesson Corp.
1.40%, 03/15/18		500		489,835
Medco Health Solutions Inc.
7.13%, 03/15/18		650		776,464

				1,762,642

HOTELS, RESTAURANTS & LEISURE — 1.95%
Carnival Corp.
1.88%, 12/15/17		350		345,004
McDonald’s Corp.
5.35%, 03/01/18		1,450		1,663,151
5.80%, 10/15/17		1,200		1,384,729
Yum! Brands Inc.
6.25%, 03/15/18		55		63,766

				3,456,650

HOUSEHOLD DURABLES — 0.14%
Newell Rubbermaid Inc.
2.05%, 12/01/17		250		250,348

				250,348


Security	Principal (000s)		Value

HOUSEHOLD PRODUCTS — 0.59%
Kimberly-Clark Corp.
6.13%, 08/01/17	$	900	$	1,045,366

				1,045,366
INDUSTRIAL CONGLOMERATES — 4.33%
3M Co.
1.00%, 06/26/17		550		548,500
Danaher Corp.
5.63%, 01/15/18		100		113,373
General Electric Co.
5.25%, 12/06/17		3,900		4,439,677
Koninklijke Philips NV
5.75%, 03/11/18		2,150		2,481,792
Pentair Finance SA
1.88%, 09/15/17		100		100,080

				7,683,422
INTERNET & CATALOG RETAIL — 0.05%
Amazon.com Inc.
1.20%, 11/29/17		100		98,697

				98,697
INTERNET SOFTWARE & SERVICES —1.55%
Baidu Inc.
2.25%, 11/28/17		1,100		1,100,313
eBay Inc.
1.35%, 07/15/17		1,650		1,642,697

				2,743,010
IT SERVICES — 3.16%
Computer Sciences Corp.
6.50%, 03/15/18		450		523,813
International Business Machines Corp.
1.25%, 02/08/18		1,900		1,877,497
5.70%, 09/14/17		2,800		3,209,349

				5,610,659
LIFE SCIENCES TOOLS & SERVICES — 0.38%
Agilent Technologies Inc.
6.50%, 11/01/17		500		581,238
Thermo Fisher Scientific Inc.
1.85%, 01/15/18		100		100,056

				681,294
MEDIA — 3.30%
CBS Corp.
1.95%, 07/01/17		350		353,102
Comcast Corp.
6.30%, 11/15/17		1,300		1,514,755
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
1.75%, 01/15/18		450		446,332
Time Warner Cable Inc.
5.85%, 05/01/17		350		383,703


Security	Principal (000s)		Value

Viacom Inc.
3.50%, 04/01/17	$	350	$	372,889
Walt Disney Co. (The)
1.10%, 12/01/17		2,800		2,774,774

				5,845,555
METALS & MINING — 2.22%
Cliffs Natural Resources Inc.
3.95%, 01/15/18^a		250		248,323
Freeport-McMoRan Copper & Gold Inc.
2.38%, 03/15/18		800		798,115
Nucor Corp.
5.75%, 12/01/17		550		630,068
Rio Tinto Finance (USA) PLC
1.63%, 08/21/17 (Call 07/21/17)		2,100		2,101,641
Teck Resources Ltd.
2.50%, 02/01/18		150		151,513

				3,929,660
MULTI-UTILITIES — 0.28%
Dominion Resources Inc. Series A
1.40%, 09/15/17		500		493,330

				493,330
MULTILINE RETAIL — 2.30%
Nordstrom Inc.
6.25%, 01/15/18		350		405,068
Target Corp.
5.38%, 05/01/17		100		113,432
6.00%, 01/15/18		3,050		3,551,529

				4,070,029
OFFICE ELECTRONICS — 0.06%
Pitney Bowes Inc.
5.75%, 09/15/17		100		111,068

				111,068
OIL, GAS & CONSUMABLE FUELS — 10.53%
Anadarko Petroleum Corp.
6.38%, 09/15/17		1,550		1,780,973
Apache Corp.
1.75%, 04/15/17		200		202,804
Canadian Natural Resources Ltd.
5.70%, 05/15/17		700		791,291
Chevron Corp.
1.10%, 12/05/17 (Call 11/05/17)		3,000		2,981,160
ConocoPhillips Co.
1.05%, 12/15/17 (Call 11/15/17)^a		1,550		1,528,357
DCP Midstream Operating LP
2.50%, 12/01/17 (Call 11/01/17)		500		502,641
Devon Energy Corp.
1.88%, 05/15/17 (Call 04/15/17)		500		506,131
Encana Corp.
5.90%, 12/01/17		500		569,972
Enterprise Products Operating LLC
Series L
6.30%, 09/15/17		500		580,803


Security	Principal (000s)		Value

EOG Resources Inc.
5.88%, 09/15/17	$	400	$	460,216
Kinder Morgan Energy Partners LP
5.95%, 02/15/18^a		1,100		1,256,965
Marathon Oil Corp.
5.90%, 03/15/18		350		403,518
Occidental Petroleum Corp.
1.50%, 02/15/18 (Call 01/15/18)		650		646,328
Phillips 66
2.95%, 05/01/17		550		575,165
Questar Pipeline Co.
5.83%, 02/01/18		150		172,384
Shell International Finance BV
1.13%, 08/21/17		1,600		1,590,752
Southwestern Energy Co.
7.50%, 02/01/18		150		178,853
Total Capital Canada Ltd.
1.45%, 01/15/18		2,000		1,998,840
Total Capital International SA
1.55%, 06/28/17		1,800		1,814,840
Valero Energy Corp.
6.13%, 06/15/17		100		114,399

				18,656,392
PHARMACEUTICALS — 8.16%
AbbVie Inc.
1.75%, 11/06/17		1,000		1,004,654
Actavis Inc.
1.88%, 10/01/17		450		448,937
Allergan Inc.
1.35%, 03/15/18		350		341,106
AstraZeneca PLC
5.90%, 09/15/17		1,900		2,197,138
Bristol-Myers Squibb Co.
0.88%, 08/01/17		950		936,171
GlaxoSmithKline Capital PLC
1.50%, 05/08/17^a		2,950		2,975,261
Johnson & Johnson
5.55%, 08/15/17		950		1,082,761
Merck & Co. Inc.
1.10%, 01/31/18		2,100		2,072,759
6.00%, 09/15/17		1,100		1,275,895
Pfizer Inc.
4.65%, 03/01/18		300		335,204
Wyeth LLC
5.45%, 04/01/17		1,200		1,345,958
Zoetis Inc.
1.88%, 02/01/18		450		449,826

				14,465,670
PROFESSIONAL SERVICES — 0.20%
Dun & Bradstreet Corp. (The)
3.25%, 12/01/17		350		359,766

				359,766
ROAD & RAIL — 1.41%
Burlington Northern Santa Fe Corp.
5.65%, 05/01/17		300		341,064
5.75%, 03/15/18		1,100		1,271,615


Security	Principal or Shares (000s)		Value

CSX Corp.
6.25%, 03/15/18	$	550	$	643,817
Ryder System Inc.
2.50%, 03/01/18 (Call 02/01/18)		250		250,710

				2,507,206
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.76%
Altera Corp.
1.75%, 05/15/17		700		702,409
Intel Corp.
1.35%, 12/15/17		4,200		4,182,366

				4,884,775
SOFTWARE — 3.19%
Microsoft Corp.
0.88%, 11/15/17		1,400		1,375,421
Oracle Corp.
1.20%, 10/15/17		3,800		3,765,582
Symantec Corp.
2.75%, 06/15/17 (Call 05/15/17)		500		513,780

				5,654,783
SPECIALTY RETAIL — 1.12%
Lowe’s Companies Inc.
1.63%, 04/15/17 (Call 03/15/17)		1,450		1,471,874
Staples Inc.
2.75%, 01/12/18 (Call 12/13/17)^a		500		505,778

				1,977,652
TOBACCO — 0.63%
Philip Morris International Inc.
1.13%, 08/21/17		950		942,216
Reynolds American Inc.
6.75%, 06/15/17		150		174,282

				1,116,498
WIRELESS TELECOMMUNICATION SERVICES — 2.66%
America Movil SAB de CV
5.63%, 11/15/17^a		950		1,069,654
Vodafone Group PLC
1.25%, 09/26/17^a		2,000		1,973,019
1.50%, 02/19/18		1,700		1,677,858

				4,720,531

TOTAL CORPORATE BONDS & NOTES
(Cost: $173,060,726)				172,499,336

SHORT-TERM INVESTMENTS — 4.29%

MONEY MARKET FUNDS — 4.29%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		3,485		3,485,276


Security	Shares (000s)		Value

BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		300	$	299,679
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		3,823		3,822,628

				7,607,583

TOTAL SHORT-TERM INVESTMENTS (Cost: $7,607,583)				7,607,583


TOTAL INVESTMENTS IN SECURITIES — 101.62% (Cost: $180,668,309)				180,106,919
Other Assets, Less Liabilities — (1.62)%				(2,869,425	)

NET ASSETS — 100.00%			$	177,237,494

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 67.49%

AEROSPACE & DEFENSE — 0.34%
Honeywell International Inc.
5.30%, 03/01/18	$	75	$	85,941

				85,941

BEVERAGES — 0.33%
Anheuser-Busch Companies LLC
5.50%, 01/15/18		75		85,287

				85,287

BIOTECHNOLOGY — 0.60%
Amgen Inc.
2.13%, 05/15/17		150		153,815

				153,815

CAPITAL MARKETS — 9.51%
Bank of New York Mellon Corp. (The)
1.35%, 03/06/18 (Call 02/06/18)		225		222,026
Bear Stearns Companies Inc. (The)/J.P. Morgan Chase & Co.
6.40%, 10/02/17		200		232,274
7.25%, 02/01/18		450		538,181
Deutsche Bank AG London
6.00%, 09/01/17^a		225		258,646
Goldman Sachs Group Inc. (The)
2.38%, 01/22/18^a		450		452,381
6.25%, 09/01/17		250		286,263
Merrill Lynch & Co. Inc.
5.70%, 05/02/17		100		111,319
Morgan Stanley Series F
5.55%, 04/27/17		300		334,913

				2,436,003

CHEMICALS — 1.23%
Eastman Chemical Co.
2.40%, 06/01/17		150		153,476
Ecolab Inc.
1.45%, 12/08/17		75		74,077
PPG Industries Inc.
6.65%, 03/15/18		75		88,130

				315,683

COMMERCIAL BANKS — 11.41%
Bank of Montreal
1.40%, 09/11/17		150		149,307
Bank of Nova Scotia
1.38%, 12/18/17 (Call 11/18/17)		50		49,519
BB&T Corp.
1.45%, 01/12/18 (Call 12/12/17)		75		73,928
BNP Paribas SA
2.38%, 09/14/17		150		153,104


Security	Principal (000s)		Value

Credit Suisse New York
6.00%, 02/15/18	$	90	$	104,337
HSBC USA Inc.
1.63%, 01/16/18		300		297,603
Rabobank Nederland
1.70%, 03/19/18		250		249,154
Royal Bank of Canada
1.50%, 01/16/18^a		150		149,512
Sumitomo Mitsui Banking Corp.
1.80%, 07/18/17		250		252,253
Svenska Handelsbanken AB
1.63%, 03/21/18		250		247,421
UBS AG Stamford
5.88%, 12/20/17		200		229,789
Wachovia Corp./Wells Fargo & Co.
5.75%, 02/01/18		450		519,527
Wells Fargo & Co.
1.50%, 01/16/18		200		199,349
Westpac Banking Corp.
1.60%, 01/12/18		250		249,190

				2,923,993

COMMUNICATIONS EQUIPMENT — 0.45%
Motorola Solutions Inc.
6.00%, 11/15/17		100		114,201

				114,201

COMPUTERS & PERIPHERALS — 0.71%
Hewlett-Packard Co.
2.60%, 09/15/17		105		107,739
NetApp Inc.
2.00%, 12/15/17		75		75,245

				182,984

CONSUMER FINANCE — 3.96%
American Express Co.
7.00%, 03/19/18		400		480,094
Capital One Financial Corp.
6.75%, 09/15/17		150		175,449
Ford Motor Credit Co. LLC
2.38%, 01/16/18		200		202,420
John Deere Capital Corp.
2.80%, 09/18/17		150		156,313

				1,014,276

DIVERSIFIED FINANCIAL SERVICES — 7.14%
Bank of America Corp.
2.00%, 01/11/18		200		200,112
6.00%, 09/01/17		450		513,917
Citigroup Inc.
6.13%, 11/21/17		400		460,447
General Electric Capital Corp.
5.63%, 09/15/17		395		451,000
ING U.S. Inc.
2.90%, 02/15/18		50		51,472
NYSE Euronext Inc.
2.00%, 10/05/17		150		150,892

				1,827,840


Security	Principal (000s)		Value

DIVERSIFIED TELECOMMUNICATION SERVICES — 1.75%
AT&T Inc.
1.40%, 12/01/17	$	250	$	247,026
British Telecommunications PLC
5.95%, 01/15/18		100		115,217
Telefonica Emisiones SAU
6.22%, 07/03/17		25		28,489
Verizon Communications Inc.
5.50%, 02/15/18		50		56,830

				447,562

ELECTRIC UTILITIES — 1.55%
Appalachian Power Co.
Series K
5.00%, 06/01/17		100		109,517
Edison International
3.75%, 09/15/17		75		80,100
Nisource Finance Corp.
6.40%, 03/15/18		105		122,443
Pacific Gas & Electric Co.
5.63%, 11/30/17		75		85,029

				397,089

ELECTRICAL EQUIPMENT — 0.84%
Eaton Corp.
1.50%, 11/02/17		100		99,594
Tyco Electronics Group SA
6.55%, 10/01/17		100		115,691

				215,285

ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.20%
Tech Data Corp.
3.75%, 09/21/17		50		51,331

				51,331

ENERGY EQUIPMENT & SERVICES — 1.10%
Nabors Industries Inc.
6.15%, 02/15/18		100		113,177
Transocean Inc.
6.00%, 03/15/18		75		84,638
Weatherford International Ltd.
6.00%, 03/15/18		75		84,638

				282,453

FOOD & STAPLES RETAILING — 1.81%
CVS Caremark Corp.
5.75%, 06/01/17		150		170,429
Delhaize Brothers and Co. “The Lion” (Delhaize Group)
6.50%, 06/15/17^a		75		85,210
Safeway Inc.
6.35%, 08/15/17		50		56,513
Walgreen Co.
1.80%, 09/15/17		150		151,306

				463,458


Security	Principal (000s)		Value

FOOD PRODUCTS — 1.57%
Bunge Ltd. Finance Corp.
3.20%, 06/15/17	$	75	$	77,716
ConAgra Foods Inc.
1.90%, 01/25/18		75		74,700
Kraft Foods Group Inc.
2.25%, 06/05/17		125		127,792
Mondelez International Inc.
6.13%, 02/01/18		105		121,548

				401,756

GAS UTILITIES — 0.44%
Southern Natural Gas Co. LLC
5.90%, 04/01/17^b		100		111,607

				111,607

HEALTH CARE EQUIPMENT & SUPPLIES — 0.34%
Covidien International Finance SA
6.00%, 10/15/17		75		86,061

				86,061

HEALTH CARE PROVIDERS & SERVICES — 2.31%
Aetna Inc.
1.50%, 11/15/17 (Call 10/15/17)		150		148,893
McKesson Corp.
1.40%, 03/15/18		75		73,475
Medco Health Solutions Inc.
7.13%, 03/15/18		75		89,592
UnitedHealth Group Inc.
6.00%, 02/15/18		150		174,148
WellPoint Inc.
1.88%, 01/15/18		105		104,960

				591,068

HOTELS, RESTAURANTS & LEISURE — 0.56%
Darden Restaurants Inc.
6.20%, 10/15/17		50		55,770
Starbucks Corp.
6.25%, 08/15/17		75		87,624

				143,394

INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.33%
Exelon Generation Co. LLC
6.20%, 10/01/17		75		84,153

				84,153

INDUSTRIAL CONGLOMERATES — 0.89%
General Electric Co.
5.25%, 12/06/17		200		227,676

				227,676

INSURANCE — 2.99%
American International Group Inc.
5.85%, 01/16/18		300		344,915


Security	Principal (000s)		Value

Berkshire Hathaway Inc.
1.55%, 02/09/18	$	300	$	299,591
Prudential Financial Inc.
Series D
6.00%, 12/01/17		105		121,127

				765,633

INTERNET & CATALOG RETAIL — 0.58%
Amazon.com Inc.
1.20%, 11/29/17		150		148,045

				148,045

IT SERVICES — 0.67%
Computer Sciences Corp.
6.50%, 03/15/18		50		58,201
International Business Machines Corp.
5.70%, 09/14/17		100		114,620

				172,821

MEDIA — 1.40%
Comcast Corp.
5.88%, 02/15/18		105		122,062
Interpublic Group of Companies Inc. (The)
2.25%, 11/15/17		100		100,028
Time Warner Cable Inc.
5.85%, 05/01/17		125		137,037

				359,127

METALS & MINING — 0.59%
Freeport-McMoRan Copper & Gold Inc.
2.38%, 03/15/18		75		74,823
Teck Resources Ltd.
2.50%, 02/01/18		75		75,756

				150,579

MULTI-UTILITIES — 0.61%
CMS Energy Corp.
5.05%, 02/15/18		75		83,018
Dominion Resources Inc.
Series A
1.40%, 09/15/17		75		73,999

				157,017

MULTILINE RETAIL — 0.45%
Nordstrom Inc.
6.25%, 01/15/18		100		115,734

				115,734

OFFICE ELECTRONICS — 0.33%
Pitney Bowes Inc.
5.75%, 09/15/17		75		83,301

				83,301


Security	Principal (000s)		Value

OIL, GAS & CONSUMABLE FUELS — 3.75%
Anadarko Petroleum Corp.
6.38%, 09/15/17	$	105	$	120,646
Buckeye Partners LP
6.05%, 01/15/18		50		56,353
Canadian Natural Resources Ltd.
5.70%, 05/15/17		100		113,042
Devon Energy Corp.
1.88%, 05/15/17 (Call 04/15/17)		75		75,920
Encana Corp.
5.90%, 12/01/17		100		113,994
Enterprise Products Operating LLC
Series L
6.30%, 09/15/17		100		116,161
Kinder Morgan Energy Partners LP
5.95%, 02/15/18		75		85,702
Marathon Oil Corp.
6.00%, 10/01/17		100		114,828
Phillips 66
2.95%, 05/01/17		75		78,432
Valero Energy Corp.
6.13%, 06/15/17		75		85,799

				960,877

PERSONAL PRODUCTS — 0.21%
Avon Products Inc.
5.75%, 03/01/18		50		54,175

				54,175

PHARMACEUTICALS — 1.96%
AbbVie Inc.
1.75%, 11/06/17		350		351,629
Actavis Inc.
1.88%, 10/01/17		150		149,645

				501,274

REAL ESTATE INVESTMENT TRUSTS (REITS) — 1.88%
American Tower Corp.
4.50%, 01/15/18		125		136,155
CommonWealth REIT
6.65%, 01/15/18 (Call 07/15/17)		50		55,539
Health Care REIT Inc.
2.25%, 03/15/18		105		105,266
Kimco Realty Corp.
4.30%, 02/01/18 (Call 11/01/17)		75		80,683
Ventas Realty LP/Ventas Capital Corp.
2.00%, 02/15/18 (Call 01/15/18)		105		104,534

				482,177

ROAD & RAIL — 1.09%
Burlington Northern Santa Fe Corp.
5.75%, 03/15/18		75		86,701
CSX Corp.
6.25%, 03/15/18		100		117,058
Ryder System Inc.
2.50%, 03/01/18 (Call 02/01/18)		75		75,213

				278,972


Security	Principal or Shares (000s)		Value

SPECIALTY RETAIL — 0.20%
Staples Inc.
2.75%, 01/12/18 (Call 12/13/17)	$	50	$	50,578

				50,578

TOBACCO — 0.54%
Lorillard Tobacco Co.
2.30%, 08/21/17^a		50		50,975
Reynolds American Inc.
6.75%, 06/15/17		75		87,141

				138,116

TRADING COMPANIES & DISTRIBUTORS — 0.21%
Air Lease Corp.
5.63%, 04/01/17		50		55,062

				55,062

WATER UTILITIES — 0.66%
American Water Capital Corp.
6.09%, 10/15/17		150		170,154

				170,154

TOTAL CORPORATE BONDS & NOTES (Cost: $17,052,139)				17,286,558

INVESTMENT COMPANIES — 29.78%
iSharesBond Mar 2018 Corporate ex-Financials Term ETF^a,c		77		7,629,160

TOTAL INVESTMENT COMPANIES (Cost: $7,493,476)				7,629,160

SHORT-TERM INVESTMENTS — 5.52%

MONEY MARKET FUNDS — 5.52%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^c,d,e		792		791,501
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^c,d,e		68		68,057


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^c,d		556	$	555,670

				1,415,228

TOTAL SHORT-TERM INVESTMENTS (Cost: $1,415,228)				1,415,228


TOTAL INVESTMENTS IN SECURITIES — 102.79% (Cost: $25,960,843)				26,330,946
Other Assets, Less Liabilities — (2.79)%				(715,886	)

NET ASSETS — 100.00%			$	25,615,060

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^c	Affiliated issuer. See Note 2.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

^e	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 98.11%

AEROSPACE & DEFENSE — 4.03%
Boeing Co. (The)
4.88%, 02/15/20	$	1,325	$	1,499,162
L-3 Communications Corp.
5.20%, 10/15/19^a		175		191,820
Lockheed Martin Corp.
4.25%, 11/15/19		350		381,133
Northrop Grumman Corp.
5.05%, 08/01/19		150		167,701
Raytheon Co.
4.40%, 02/15/20		450		493,541

				2,733,357

AIR FREIGHT & LOGISTICS — 2.03%
United Parcel Service Inc.
5.13%, 04/01/19		1,200		1,374,600

				1,374,600

BEVERAGES — 4.71%
Anheuser-Busch InBev Worldwide Inc.
5.38%, 01/15/20		1,125		1,303,933
6.88%, 11/15/19		200		247,666
Coca-Cola FEMSA SAB de CV
4.63%, 02/15/20		500		546,443
PepsiCo Inc.
4.50%, 01/15/20		1,000		1,100,420

				3,198,462

CHEMICALS — 7.08%
Air Products and Chemicals Inc.
4.38%, 08/21/19		350		384,122
Airgas Inc.
2.38%, 02/15/20 (Call 01/15/20)		175		168,106
Dow Chemical Co. (The)
8.55%, 05/15/19		325		418,376
E.I. du Pont de Nemours and Co.
4.63%, 01/15/20		800		884,881
LyondellBasell Industries NV
5.00%, 04/15/19 (Call 01/15/19)		500		556,315
Potash Corp. of Saskatchewan Inc.
4.88%, 03/30/20		750		829,235
6.50%, 05/15/19		750		893,419
Praxair Inc.
4.50%, 08/15/19		600		668,768

				4,803,222

COMMERCIAL SERVICES & SUPPLIES — 0.59%
Republic Services Inc.
5.50%, 09/15/19		350		398,147

				398,147


Security	Principal (000s)		Value

COMMUNICATIONS EQUIPMENT — 2.42%
Cisco Systems Inc.
4.45%, 01/15/20	$	1,475	$	1,642,284

				1,642,284

COMPUTERS & PERIPHERALS — 0.30%
Lexmark International Inc.
5.13%, 03/15/20		200		205,440

				205,440

CONSUMER FINANCE — 3.51%
Boeing Capital Corp.
4.70%, 10/27/19		350		394,605
Ford Motor Credit Co. LLC
8.13%, 01/15/20		200		252,340
John Deere Capital Corp.
1.70%, 01/15/20		700		671,631
2.25%, 04/17/19		1,050		1,061,089

				2,379,665

DIVERSIFIED CONSUMER SERVICES — 0.67%
Stanford University
4.75%, 05/01/19		400		453,802

				453,802

DIVERSIFIED FINANCIAL SERVICES — 0.43%
Deutsche Telekom International Finance BV
6.00%, 07/08/19		250		293,725

				293,725

DIVERSIFIED TELECOMMUNICATION SERVICES — 2.32%
Orange
5.38%, 07/08/19		200		224,671
Telefonica Emisiones SAU
5.88%, 07/15/19		175		197,950
Verizon Communications Inc.
6.35%, 04/01/19		975		1,153,501

				1,576,122

ELECTRIC UTILITIES — 5.19%
Appalachian Power Co.
7.95%, 01/15/20		200		256,958
Duke Energy Ohio Inc.
5.45%, 04/01/19		800		926,083
Georgia Power Co.
4.25%, 12/01/19		500		544,793
Kansas City Power & Light Co.
7.15%, 04/01/19		350		433,483
Public Service Co. of Colorado
5.13%, 06/01/19		500		569,824
Virginia Electric and Power Co.
5.00%, 06/30/19		700		794,340

				3,525,481


Security	Principal (000s)		Value

ELECTRICAL EQUIPMENT — 1.25%
Emerson Electric Co.
4.88%, 10/15/19	$	750	$	846,052

				846,052

ENERGY EQUIPMENT & SERVICES — 2.99%
Diamond Offshore Drilling Inc.
5.88%, 05/01/19		500		583,993
Halliburton Co.
6.15%, 09/15/19		1,050		1,254,982
Pride International Inc.
8.50%, 06/15/19		150		191,629

				2,030,604

FOOD & STAPLES RETAILING — 2.62%
Costco Wholesale Corp.
1.70%, 12/15/19		1,575		1,537,355
Kroger Co. (The)
6.15%, 01/15/20		200		237,419

				1,774,774

FOOD PRODUCTS — 1.95%
Bunge Ltd. Finance Corp.
8.50%, 06/15/19		250		310,925
Kellogg Co.
4.15%, 11/15/19		100		108,137
Kraft Foods Group Inc.
5.38%, 02/10/20		300		343,536
Mead Johnson Nutrition Co.
4.90%, 11/01/19		100		109,878
Mondelez International Inc.
5.38%, 02/10/20		400		453,534

				1,326,010

HEALTH CARE EQUIPMENT & SUPPLIES — 7.94%
Abbott Laboratories
5.13%, 04/01/19		875		986,777
Baxter International Inc.
4.50%, 08/15/19		1,000		1,114,613
Becton, Dickinson and Co.
5.00%, 05/15/19		450		506,223
Boston Scientific Corp.
6.00%, 01/15/20		175		204,005
CareFusion Corp.
6.38%, 08/01/19		100		114,728
Medtronic Inc.
4.45%, 03/15/20		1,625		1,803,312
Stryker Corp.
4.38%, 01/15/20		600		656,493

				5,386,151

HEALTH CARE PROVIDERS & SERVICES — 0.18%
Express Scripts Holding Co.
7.25%, 06/15/19		100		123,367

				123,367


Security	Principal (000s)		Value

HOTELS, RESTAURANTS & LEISURE — 1.18%
McDonald’s Corp.
1.88%, 05/29/19	$	700	$	691,566
Yum! Brands Inc.
5.30%, 09/15/19		100		111,568

				803,134

INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.40%
Exelon Generation Co. LLC
5.20%, 10/01/19		250		273,206

				273,206

IT SERVICES — 2.72%
International Business Machines Corp.
1.88%, 05/15/19		1,100		1,081,413
8.38%, 11/01/19		500		661,901
Western Union Co. (The)
3.35%, 05/22/19		100		100,069

				1,843,383

LIFE SCIENCES TOOLS & SERVICES — 0.60%
Life Technologies Corp.
6.00%, 03/01/20		350		406,605

				406,605

MACHINERY — 1.30%
Illinois Tool Works Inc.
6.25%, 04/01/19		600		707,596
Kennametal Inc.
2.65%, 11/01/19 (Call 10/01/19)		175		171,883

				879,479

MEDIA — 2.64%
Comcast Corp.
5.15%, 03/01/20		300		338,547
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
5.88%, 10/01/19		350		401,374
Thomson Reuters Corp.
4.70%, 10/15/19		200		218,411
Time Warner Cable Inc.
5.00%, 02/01/20		350		354,612
Time Warner Inc.
4.88%, 03/15/20		175		194,202
Viacom Inc.
5.63%, 09/15/19		250		286,704

				1,793,850

METALS & MINING — 6.75%
Allegheny Technologies Inc.
9.38%, 06/01/19		100		122,424
Barrick Gold Corp.
6.95%, 04/01/19		200		233,318
BHP Billiton Finance (USA) Ltd.
6.50%, 04/01/19		1,475		1,778,692


Security	Principal (000s)		Value

Cliffs Natural Resources Inc.
5.90%, 03/15/20^a	$	175	$	176,459
Freeport-McMoRan Copper & Gold Inc.
3.10%, 03/15/20^a		200		196,540
Newmont Mining Corp.
5.13%, 10/01/19		175		179,921
Rio Tinto Finance (USA) Ltd.
9.00%, 05/01/19		1,300		1,705,369
Vale Overseas Ltd.
5.63%, 09/15/19		175		190,698

				4,583,421

MULTI-UTILITIES — 2.52%
Consolidated Edison Co. of New York Inc.
6.65%, 04/01/19		700		853,802
Consumers Energy Co.
6.70%, 09/15/19		700		857,605

				1,711,407

OFFICE ELECTRONICS — 0.33%
Xerox Corp.
5.63%, 12/15/19		200		225,939

				225,939

OIL, GAS & CONSUMABLE FUELS — 11.55%
Anadarko Petroleum Corp.
6.95%, 06/15/19		250		298,990
Boardwalk Pipelines LLC
5.75%, 09/15/19		250		278,268
Cenovus Energy Inc.
5.70%, 10/15/19		250		287,901
ConocoPhillips
6.00%, 01/15/20		975		1,164,806
Enbridge Energy Partners LP
5.20%, 03/15/20		175		192,423
Encana Corp.
6.50%, 05/15/19		250		295,367
EOG Resources Inc.
5.63%, 06/01/19		1,000		1,160,232
Husky Energy Inc.
7.25%, 12/15/19		175		214,392
Kinder Morgan Energy Partners LP
6.85%, 02/15/20		275		328,632
Petrohawk Energy Corp.
6.25%, 06/01/19 (Call 06/01/15)		175		191,188
Plains All American Pipeline LP/PAA Finance Corp.
5.75%, 01/15/20		250		290,267
8.75%, 05/01/19		175		226,438
Plains Exploration & Production Co.
6.13%, 06/15/19 (Call 06/15/16)		100		109,125
Shell International Finance BV
4.30%, 09/22/19		875		969,759
4.38%, 03/25/20		600		665,368
Spectra Energy Capital LLC
8.00%, 10/01/19		200		245,018
Talisman Energy Inc.
7.75%, 06/01/19		250		302,823
Valero Energy Corp.
6.13%, 02/01/20		175		204,982


Security	Principal (000s)		Value

Williams Partners LP
5.25%, 03/15/20	$	375	$	414,892

				7,840,871

PHARMACEUTICALS — 4.80%
AstraZeneca PLC
1.95%, 09/18/19		1,150		1,134,535
Merck Sharp & Dohme Corp.
5.00%, 06/30/19^a		1,275		1,452,400
Teva Pharmaceutical Finance IV LLC
2.25%, 03/18/20		700		668,699

				3,255,634

ROAD & RAIL — 0.16%
Burlington Northern Santa Fe Corp.
4.70%, 10/01/19		100		111,525

				111,525

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.47%
Texas Instruments Inc.
1.65%, 08/03/19		1,025		998,258

				998,258

SOFTWARE — 4.02%
Adobe Systems Inc.
4.75%, 02/01/20		100		108,315
Microsoft Corp.
4.20%, 06/01/19		950		1,052,412
Oracle Corp.
5.00%, 07/08/19		1,375		1,567,814

				2,728,541

SPECIALTY RETAIL — 0.62%
TJX Companies Inc. (The)
6.95%, 04/15/19		350		419,602

				419,602

TOBACCO — 2.38%
Altria Group Inc.
9.25%, 08/06/19		175		233,516
Lorillard Tobacco Co.
8.13%, 06/23/19		175		218,513
Philip Morris International Inc.
4.50%, 03/26/20		1,050		1,160,519

				1,612,548

WIRELESS TELECOMMUNICATION SERVICES — 4.46%
America Movil SAB de CV
5.00%, 10/16/19		100		109,400
5.00%, 03/30/20		1,375		1,505,548


Security	Principal or Shares (000s)		Value

Vodafone Group PLC
5.45%, 06/10/19	$	1,225	$	1,409,440

				3,024,388

TOTAL CORPORATE BONDS & NOTES (Cost: $67,883,963)				66,583,056

SHORT-TERM INVESTMENTS — 1.44%

MONEY MARKET FUNDS — 1.44%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		429		428,772
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		37		36,868
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		514		513,788

				979,428

TOTAL SHORT-TERM INVESTMENTS (Cost: $979,428)				979,428


TOTAL INVESTMENTS IN SECURITIES — 99.55% (Cost: $68,863,391)				67,562,484
Other Assets, Less Liabilities — 0.45%				305,121

NET ASSETS — 100.00%			$	67,867,605

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 67.34%

AEROSPACE & DEFENSE — 0.74%
L-3 Communications Corp.
5.20%, 10/15/19	$	70	$	76,728

				76,728
BEVERAGES — 1.69%
Anheuser-Busch InBev Worldwide Inc.
5.38%, 01/15/20		150		173,858

				173,858
CAPITAL MARKETS — 5.49%
Goldman Sachs Group Inc. (The)
5.38%, 03/15/20		200		223,002
Morgan Stanley
5.63%, 09/23/19		300		342,521

				565,523
CHEMICALS — 2.70%
Dow Chemical Co. (The)
8.55%, 05/15/19		130		167,350
Potash Corp. of Saskatchewan Inc.
4.88%, 03/30/20		100		110,565

				277,915
COMMERCIAL BANKS — 8.36%
Barclays Bank PLC
5.13%, 01/08/20		200		226,023
Credit Suisse New York
5.40%, 01/14/20		160		181,394
PNC Funding Corp.
5.13%, 02/08/20^a		100		113,775
Royal Bank of Scotland Group PLC
6.40%, 10/21/19		100		115,840
Westpac Banking Corp.
4.88%, 11/19/19		200		223,942

				860,974
COMMERCIAL SERVICES & SUPPLIES — 1.08%
Republic Services Inc.
5.00%, 03/01/20		100		111,131

				111,131
COMMUNICATIONS EQUIPMENT — 0.54%
Cisco Systems Inc.
4.45%, 01/15/20		50		55,671

				55,671


Security	Principal (000s)		Value

COMPUTERS & PERIPHERALS — 0.25%
Lexmark International Inc.
5.13%, 03/15/20	$	25	$	25,680

				25,680
CONSUMER FINANCE — 1.22%
Ford Motor Credit Co. LLC
8.13%, 01/15/20		100		126,170

				126,170
DIVERSIFIED FINANCIAL SERVICES — 9.84%
Bank of America Corp.
7.63%, 06/01/19		200		247,656
Citigroup Inc.
8.50%, 05/22/19		200		257,167
General Electric Capital Corp.
5.50%, 01/08/20		200		231,292
J.P. Morgan Chase & Co.
4.95%, 03/25/20^b		250		278,147

				1,014,262
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.09%
Orange
5.38%, 07/08/19		100		112,335

				112,335
ELECTRICAL EQUIPMENT — 0.83%
Roper Industries Inc.
6.25%, 09/01/19		75		86,010

				86,010
FOOD PRODUCTS — 2.50%
Bunge Ltd. Finance Corp.
8.50%, 06/15/19		70		87,059
Mondelez International Inc.
5.38%, 02/10/20		150		170,075

				257,134
HEALTH CARE EQUIPMENT & SUPPLIES — 1.68%
Boston Scientific Corp.
6.00%, 01/15/20		50		58,287
CareFusion Corp.
6.38%, 08/01/19		100		114,728

				173,015
INSURANCE — 3.68%
Aflac Inc.
8.50%, 05/15/19		100		129,229
Allstate Corp. (The)
7.45%, 05/16/19^b		100		125,771
Prudential Financial Inc.
7.38%, 06/15/19		100		124,446

				379,446


Security	Principal (000s)		Value

LIFE SCIENCES TOOLS & SERVICES — 1.13%
Life Technologies Corp.
6.00%, 03/01/20	$	100	$	116,173

				116,173
MEDIA — 6.42%
Comcast Corp.
5.70%, 07/01/19		150		174,295
DIRECTV Holdings LLC/DIRECTV Financing Co. Inc.
5.20%, 03/15/20		100		109,956
Time Warner Cable Inc.
5.00%, 02/01/20		150		151,976
Time Warner Inc.
4.88%, 03/15/20		100		110,973
Viacom Inc.
5.63%, 09/15/19		100		114,681

				661,881
METALS & MINING — 2.90%
Barrick Gold Corp.
6.95%, 04/01/19		25		29,165
BHP Billiton Finance (USA) Ltd.
6.50%, 04/01/19		75		90,442
Newmont Mining Corp.
5.13%, 10/01/19		100		102,812
Vale Overseas Ltd.
5.63%, 09/15/19		70		76,279

				298,698
OIL, GAS & CONSUMABLE FUELS — 6.33%
Cenovus Energy Inc.
5.70%, 10/15/19		75		86,370
Magellan Midstream Partners LP
6.55%, 07/15/19		100		119,491
Plains All American Pipeline LP/PAA Finance Corp.
5.75%, 01/15/20		100		116,106
Plains Exploration & Production Co.
6.13%, 06/15/19 (Call 06/15/16)		100		109,125
Shell International Finance BV
4.30%, 09/22/19		100		110,830
Williams Partners LP
5.25%, 03/15/20		100		110,638

				652,560
PAPER & FOREST PRODUCTS — 0.64%
International Paper Co.
9.38%, 05/15/19		50		65,808

				65,808
REAL ESTATE INVESTMENT TRUSTS (REITS) — 4.81%
Boston Properties LP
5.88%, 10/15/19		150		172,155
Simon Property Group LP
5.65%, 02/01/20 (Call 11/01/19)		200		231,986


Security	Principal or Shares (000s)		Value

Weyerhaeuser Co.
7.38%, 10/01/19	$	75	$	91,737

				495,878
ROAD & RAIL — 0.54%
Burlington Northern Santa Fe Corp.
4.70%, 10/01/19		50		55,763

				55,763
TOBACCO — 1.82%
Altria Group Inc.
9.25%, 08/06/19		75		100,078
Lorillard Tobacco Co.
8.13%, 06/23/19		70		87,405

				187,483
WIRELESS TELECOMMUNICATION SERVICES — 1.06%
America Movil SAB de CV
5.00%, 10/16/19		100		109,400

				109,400

TOTAL CORPORATE BONDS & NOTES
(Cost: $6,765,687)				6,939,496

INVESTMENT COMPANIES — 30.37%
iSharesBond Mar 2020 Corporate ex-Financials Term ETF^a,b		32		3,129,076

TOTAL INVESTMENT COMPANIES
(Cost: $3,047,085)				3,129,076

SHORT-TERM INVESTMENTS — 2.34%

MONEY MARKET FUNDS — 2.34%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^a,c,d		89		89,338
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^a,c,d		8		7,682


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^a,c		144	$	144,308

				241,328

TOTAL SHORT-TERM INVESTMENTS
(Cost: $241,328)				241,328


TOTAL INVESTMENTS IN SECURITIES — 100.05%
(Cost: $10,054,100)				10,309,900
Other Assets, Less Liabilities — (0.05)%				(4,682	)

NET ASSETS — 100.00%			$	10,305,218

^a	Affiliated issuer. See Note 2.

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 98.10%

AEROSPACE & DEFENSE — 6.12%
Embraer SA
5.15%, 06/15/22	$	100	$	100,000
General Dynamics Corp.
2.25%, 11/15/22 (Call 08/15/22)		800		737,037
Precision Castparts Corp.
2.50%, 01/15/23 (Call 10/15/22)		500		466,310
Raytheon Co.
2.50%, 12/15/22 (Call 09/15/22)		400		372,674
United Technologies Corp.
3.10%, 06/01/22		900		897,479

				2,573,500
AIR FREIGHT & LOGISTICS — 1.35%
FedEx Corp.
2.63%, 08/01/22		50		46,604
United Parcel Service Inc.
2.45%, 10/01/22		550		521,867

				568,471
AIRLINES — 0.45%
Continental Airlines Inc. 2007-1 Pass Through Trust Class A
5.98%, 10/19/23		172		188,332

				188,332
BEVERAGES — 6.22%
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23		400		377,466
Anheuser-Busch InBev Worldwide Inc.
2.50%, 07/15/22		650		613,831
Brown-Forman Corp.
2.25%, 01/15/23 (Call 10/15/22)		100		91,198
Diageo Investment Corp.
2.88%, 05/11/22		500		484,064
8.00%, 09/15/22		150		199,617
PepsiCo Inc.
2.75%, 03/01/23		900		848,650

				2,614,826
BIOTECHNOLOGY — 0.47%
Amgen Inc.
3.63%, 05/15/22 (Call 02/15/22)		100		101,443
Celgene Corp.
3.25%, 08/15/22		100		96,957

				198,400
CHEMICALS — 4.36%
Agrium Inc.
3.15%, 10/01/22 (Call 07/01/22)		50		46,604


Security	Principal (000s)		Value

Air Products and Chemicals Inc.
2.75%, 02/03/23	$	100	$	94,041
Cabot Corp.
3.70%, 07/15/22		100		97,039
Dow Chemical Co. (The)
3.00%, 11/15/22 (Call 08/15/22)		100		94,223
E.I. du Pont de Nemours and Co.
2.80%, 02/15/23		600		562,880
Eastman Chemical Co.
3.60%, 08/15/22 (Call 05/15/22)		100		98,279
Monsanto Co.
2.20%, 07/15/22 (Call 04/15/22)		500		463,984
Praxair Inc.
2.20%, 08/15/22 (Call 05/15/22)		100		91,674
2.70%, 02/21/23 (Call 11/21/22)^a		300		284,691

				1,833,415
COMMERCIAL SERVICES & SUPPLIES — 0.22%
Catholic Health Initiatives
2.95%, 11/01/22		100		93,236

				93,236
COMMUNICATIONS EQUIPMENT — 0.46%
Motorola Solutions Inc.
3.50%, 03/01/23		100		94,625
Telefonaktiebolaget LM Ericsson
4.13%, 05/15/22		100		99,696

				194,321
COMPUTERS & PERIPHERALS — 0.12%
Hewlett-Packard Co.
4.05%, 09/15/22		50		49,969

				49,969
CONSUMER FINANCE — 1.92%
Caterpillar Financial Services Corp.
2.63%, 03/01/23^a		300		281,551
2.85%, 06/01/22		150		145,667
Toyota Motor Credit Corp.
2.63%, 01/10/23		400		378,398

				805,616
DIVERSIFIED FINANCIAL SERVICES — 2.77%
BP Capital Markets PLC
2.50%, 11/06/22		1,100		1,017,715
3.25%, 05/06/22		150		147,820

				1,165,535
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.60%
AT&T Inc.
2.63%, 12/01/22 (Call 09/01/22)		850		774,541
Verizon Communications Inc.
2.45%, 11/01/22 (Call 08/01/22)		350		316,852

				1,091,393


Security	Principal (000s)		Value

ELECTRIC UTILITIES — 6.90%
CenterPoint Energy Houston Electric LLC
2.25%, 08/01/22 (Call 05/01/22)	$	100	$	92,850
Connecticut Light & Power Co. (The)
2.50%, 01/15/23 (Call 10/15/22)		200		187,411
DTE Electric Co.
2.65%, 06/15/22 (Call 03/15/22)		100		96,071
Duke Energy Progress Inc.
2.80%, 05/15/22 (Call 02/15/22)		200		194,380
Georgia Power Co.
2.85%, 05/15/22^a		300		288,831
NSTAR Electric Co.
2.38%, 10/15/22 (Call 07/15/22)		200		185,835
Oncor Electric Delivery Co. LLC
4.10%, 06/01/22 (Call 03/01/22)		50		51,853
Pacific Gas & Electric Co.
2.45%, 08/15/22 (Call 05/15/22)		100		92,741
PPL Capital Funding Inc.
3.50%, 12/01/22 (Call 09/01/22)		100		96,537
PPL Electric Utilities Corp.
2.50%, 09/01/22 (Call 06/01/22)		500		471,450
Progress Energy Inc.
3.15%, 04/01/22 (Call 01/01/22)		100		98,101
Public Service Co. of Colorado
2.50%, 03/15/23 (Call 09/15/22)		400		374,417
Virginia Electric and Power Co.
2.75%, 03/15/23 (Call 12/15/22)^a		700		668,905

				2,899,382
ELECTRICAL EQUIPMENT — 1.14%
ABB Finance (USA) Inc.
2.88%, 05/08/22		100		96,886
Eaton Corp.
2.75%, 11/02/22		200		189,960
Emerson Electric Co.
2.63%, 02/15/23 (Call 11/15/22)		200		191,519

				478,365
ENERGY EQUIPMENT & SERVICES — 2.82%
FMC Technologies Inc.
3.45%, 10/01/22 (Call 07/01/22)		100		94,817
National Oilwell Varco Inc.
2.60%, 12/01/22 (Call 09/01/22)		950		894,624
Transocean Inc.
3.80%, 10/15/22 (Call 07/15/22)		100		94,391
Weatherford International Ltd.
4.50%, 04/15/22 (Call 01/15/22)^a		100		101,145

				1,184,977
FOOD & STAPLES RETAILING — 0.79%
CVS Caremark Corp.
2.75%, 12/01/22 (Call 09/01/22)		50		46,996
Sysco Corp.
2.60%, 06/12/22		200		188,180
Walgreen Co.
3.10%, 09/15/22		100		96,189

				331,365


Security	Principal (000s)		Value

FOOD PRODUCTS — 0.93%
ConAgra Foods Inc.
3.20%, 01/25/23 (Call 10/25/22)	$	100	$	94,824
Kellogg Co.
2.75%, 03/01/23		100		92,960
Kraft Foods Group Inc.
3.50%, 06/06/22		100		100,010
Tyson Foods Inc.
4.50%, 06/15/22 (Call 03/15/22)		100		104,015

				391,809
HEALTH CARE EQUIPMENT & SUPPLIES — 0.79%
Baxter International Inc.
2.40%, 08/15/22		250		233,053
Covidien International Finance SA
3.20%, 06/15/22 (Call 03/15/22)		100		98,708

				331,761
HEALTH CARE PROVIDERS & SERVICES — 1.14%
Cardinal Health Inc.
3.20%, 03/15/23		300		286,490
Laboratory Corp. of America Holdings
3.75%, 08/23/22 (Call 05/23/22)		100		99,505
McKesson Corp.
2.85%, 03/15/23 (Call 12/15/22)		100		93,926

				479,921
HOTELS, RESTAURANTS & LEISURE — 0.17%
Starwood Hotels & Resorts Worldwide Inc.
3.13%, 02/15/23 (Call 11/15/22)		75		70,782

				70,782
HOUSEHOLD DURABLES — 0.58%
NVR Inc.
3.95%, 09/15/22 (Call 06/15/22)		200		195,867
Whirlpool Corp.
3.70%, 03/01/23		50		48,985

				244,852
HOUSEHOLD PRODUCTS — 1.29%
Clorox Co. (The)
3.05%, 09/15/22 (Call 06/15/22)		50		47,732
Colgate-Palmolive Co.
1.95%, 02/01/23		550		495,876

				543,608
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.35%
Exelon Generation Co. LLC
4.25%, 06/15/22 (Call 03/15/22)^a		150		147,216

				147,216
INDUSTRIAL CONGLOMERATES — 3.96%
3M Co.
2.00%, 06/26/22		350		327,452


Security	Principal (000s)		Value

General Electric Co.
2.70%, 10/09/22	$	1,200	$	1,142,627
Parker Hannifin Corp.
3.50%, 09/15/22		100		100,977
Pentair Finance SA
3.15%, 09/15/22 (Call 06/15/22)		100		91,526

				1,662,582
INTERNET & CATALOG RETAIL — 0.22%
Amazon.com Inc.
2.50%, 11/29/22 (Call 08/29/22)		100		91,612

				91,612
INTERNET SOFTWARE & SERVICES — 2.20%
Baidu Inc.
3.50%, 11/28/22		600		549,751
eBay Inc.
2.60%, 07/15/22 (Call 04/15/22)		400		372,501

				922,252
IT SERVICES — 0.97%
Computer Sciences Corp.
4.45%, 09/15/22		50		50,576
International Business Machines Corp.
1.88%, 08/01/22		400		356,723

				407,299
LIFE SCIENCES TOOLS & SERVICES — 0.23%
Thermo Fisher Scientific Inc.
3.15%, 01/15/23 (Call 10/15/22)		100		95,484

				95,484
MACHINERY — 3.30%
Caterpillar Inc.
2.60%, 06/26/22 (Call 03/26/22)		350		333,430
Deere & Co.
2.60%, 06/08/22 (Call 03/08/22)		1,000		956,440
Stanley Black & Decker Inc.
2.90%, 11/01/22		100		95,449

				1,385,319
MEDIA — 3.04%
21st Century Fox America Inc.
3.00%, 09/15/22		100		96,029
Comcast Corp.
3.13%, 07/15/22		200		194,576
Omnicom Group Inc.
3.63%, 05/01/22		300		299,074
Time Warner Entertainment Co. LP
8.38%, 03/15/23		100		118,907
Time Warner Inc.
3.40%, 06/15/22		100		99,147
Viacom Inc.
3.25%, 03/15/23 (Call 12/15/22)		100		94,546


Security	Principal (000s)		Value

Walt Disney Co. (The)
2.35%, 12/01/22	$	400	$	374,655

				1,276,934
METALS & MINING — 2.86%
Barrick Gold Corp.
3.85%, 04/01/22		100		92,882
Freeport-McMoRan Copper & Gold Inc.
3.88%, 03/15/23 (Call 12/15/22)		300		286,127
Goldcorp Inc.
3.70%, 03/15/23 (Call 12/15/22)		50		45,945
Nucor Corp.
4.13%, 09/15/22 (Call 06/15/22)		300		305,467
Rio Tinto Finance (USA) PLC
2.88%, 08/21/22 (Call 05/21/22)		450		422,724
Teck Resources Ltd.
3.75%, 02/01/23 (Call 11/01/22)^a		50		47,292

				1,200,437
MULTI-UTILITIES — 0.57%
Consumers Energy Co.
2.85%, 05/15/22 (Call 02/15/22)		100		97,909
Dominion Resources Inc.
Series B
2.75%, 09/15/22 (Call 06/15/22)^a		100		93,830
Sempra Energy
2.88%, 10/01/22 (Call 07/01/22)		50		47,077

				238,816
MULTILINE RETAIL — 0.11%
Macy’s Retail Holdings Inc.
2.88%, 02/15/23 (Call 11/15/22)		50		46,606

				46,606
OIL, GAS & CONSUMABLE FUELS — 13.84%
Chevron Corp.
2.36%, 12/05/22 (Call 09/05/22)		850		790,784
ConocoPhillips Co.
2.40%, 12/15/22 (Call 09/15/22)		500		468,638
Devon Energy Corp.
3.25%, 05/15/22 (Call 02/15/22)		100		97,031
Energy Transfer Partners LP
3.60%, 02/01/23 (Call 11/01/22)		100		95,050
Enterprise Products Operating LLC
3.35%, 03/15/23 (Call 12/15/22)		400		387,480
EOG Resources Inc.
2.63%, 03/15/23 (Call 12/15/22)		750		703,704
Kinder Morgan Energy Partners LP
3.45%, 02/15/23 (Call 11/15/22)		100		93,916
Marathon Oil Corp.
2.80%, 11/01/22 (Call 08/01/22)		100		93,908
Murphy Oil Corp.
3.70%, 12/01/22 (Call 09/01/22)		100		94,791
Occidental Petroleum Corp.
2.70%, 02/15/23 (Call 11/15/22)		800		752,068
ONEOK Partners LP
3.38%, 10/01/22 (Call 07/01/22)		100		95,329
Phillips 66
4.30%, 04/01/22		100		103,990


Security	Principal (000s)		Value

Plains All American Pipeline LP/PAA Finance Corp.
2.85%, 01/31/23 (Call 10/31/22)	$	100	$	93,049
Shell International Finance BV
2.25%, 01/06/23		700		641,080
2.38%, 08/21/22		400		372,666
Sunoco Logistics Partners Operations LP
3.45%, 01/15/23 (Call 10/15/22)		100		93,678
Total Capital International SA
2.70%, 01/25/23		300		282,788
TransCanada PipeLines Ltd.
2.50%, 08/01/22		500		467,089
Williams Companies Inc. (The)
3.70%, 01/15/23 (Call 10/15/22)		100		89,779

				5,816,818
PERSONAL PRODUCTS — 0.22%
Estee Lauder Companies Inc. (The)
2.35%, 08/15/22		100		93,207

				93,207
PHARMACEUTICALS — 8.64%
AbbVie Inc.
2.90%, 11/06/22		200		191,032
Actavis Inc.
3.25%, 10/01/22 (Call 07/01/22)		100		94,774
Allergan Inc.
2.80%, 03/15/23 (Call 12/15/22)		100		95,264
Bristol-Myers Squibb Co.
2.00%, 08/01/22		400		362,619
GlaxoSmithKline Capital Inc.
2.80%, 03/18/23		550		523,101
GlaxoSmithKline Capital PLC
2.85%, 05/08/22		575		558,093
Merck & Co. Inc.
2.40%, 09/15/22 (Call 06/15/22)		500		470,489
Novartis Capital Corp.
2.40%, 09/21/22		1,000		937,984
Teva Pharmaceutical Finance Co. BV
2.95%, 12/18/22^a		300		276,469
Zoetis Inc.
3.25%, 02/01/23 (Call 11/01/22)		125		119,542

				3,629,367
ROAD & RAIL — 0.95%
Burlington Northern Santa Fe Corp.
3.00%, 03/15/23 (Call 12/15/22)		100		94,634
Canadian National Railway Co.
2.25%, 11/15/22 (Call 08/15/22)		125		115,615
Norfolk Southern Corp.
2.90%, 02/15/23 (Call 11/15/22)		100		94,676
Union Pacific Corp.
2.95%, 01/15/23 (Call 10/15/22)		100		95,593

				400,518
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.46%
Broadcom Corp.
2.50%, 08/15/22		200		183,420
Intel Corp.
2.70%, 12/15/22		800		756,335


Security	Principal or Shares (000s)		Value

Maxim Integrated Products Inc.
3.38%, 03/15/23 (Call 12/15/22)	$	100	$	93,884

				1,033,639
SOFTWARE — 3.21%
Autodesk Inc.
3.60%, 12/15/22 (Call 09/15/22)		100		96,395
Microsoft Corp.
2.13%, 11/15/22		400		367,330
Oracle Corp.
2.50%, 10/15/22		950		886,827

				1,350,552
SPECIALTY RETAIL — 1.41%
AutoZone Inc.
3.70%, 04/15/22 (Call 01/15/22)		50		49,655
Lowe’s Companies Inc.
3.12%, 04/15/22 (Call 01/15/22)		550		542,212

				591,867
TOBACCO — 1.76%
Altria Group Inc.
2.85%, 08/09/22		100		93,569
Philip Morris International Inc.
2.63%, 03/06/23		600		553,708
Reynolds American Inc.
3.25%, 11/01/22		100		94,024

				741,301
WIRELESS TELECOMMUNICATION SERVICES — 4.19%
America Movil SAB de CV
3.13%, 07/16/22		700		650,762
Vodafone Group PLC
2.50%, 09/26/22		500		455,276
2.95%, 02/19/23		700		655,908

				1,761,946

TOTAL CORPORATE BONDS & NOTES (Cost: $43,325,068)				41,227,608

SHORT-TERM INVESTMENTS — 4.86%

MONEY MARKET FUNDS — 4.86%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		1,316		1,315,622
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		113		113,123


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c	$	611	$	611,325

				2,040,070

TOTAL SHORT-TERM INVESTMENTS (Cost: $2,040,070)				2,040,070


TOTAL INVESTMENTS IN SECURITIES — 102.96% (Cost: $45,365,138)				43,267,678
Other Assets, Less Liabilities — (2.96)%				(1,243,270	)

NET ASSETS — 100.00%			$	42,024,408

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 68.17%

BEVERAGES — 0.97%
Anheuser-Busch InBev Finance Inc.
2.63%, 01/17/23	$	104	$	98,141

				98,141
BIOTECHNOLOGY — 0.48%
Celgene Corp.
3.25%, 08/15/22		50		48,479

				48,479
BUILDING PRODUCTS — 0.68%
Owens Corning Inc.
4.20%, 12/15/22 (Call 09/15/22)		70		68,584

				68,584
CAPITAL MARKETS — 3.40%
Goldman Sachs Group Inc. (The)
3.63%, 01/22/23		150		146,144
Morgan Stanley
3.75%, 02/25/23		150		147,526
4.88%, 11/01/22		50		51,640

				345,310
CHEMICALS — 1.42%
Dow Chemical Co. (The)
3.00%, 11/15/22 (Call 08/15/22)		80		75,379
Eastman Chemical Co.
3.60%, 08/15/22 (Call 05/15/22)		70		68,795

				144,174
COMMERCIAL BANKS — 5.15%
Bank of Montreal
2.55%, 11/06/22 (Call 10/06/22)		100		93,471
BNP Paribas SA
3.25%, 03/03/23		100		95,669
PNC Financial Services Group Inc. (The)
2.85%, 11/09/22^a,b		100		94,661
U.S. Bancorp
2.95%, 07/15/22 (Call 06/15/22)		100		94,819
Wells Fargo & Co. Series M
3.45%, 02/13/23^c		150		143,926

				522,546
COMMERCIAL SERVICES & SUPPLIES — 0.68%
Republic Services Inc.
3.55%, 06/01/22 (Call 03/01/22)		70		69,161

				69,161


Security	Principal (000s)		Value

COMMUNICATIONS EQUIPMENT — 1.34%
Motorola Solutions Inc.
3.50%, 03/01/23	$	70	$	66,237
Telefonaktiebolaget LM Ericsson
4.13%, 05/15/22		70		69,787

				136,024
COMPUTERS & PERIPHERALS — 0.49%
Hewlett-Packard Co.
4.05%, 09/15/22		50		49,969

				49,969
CONSUMER FINANCE — 0.93%
American Express Co.
2.65%, 12/02/22		100		94,182

				94,182
DIVERSIFIED FINANCIAL SERVICES — 9.07%
Bank of America Corp.
3.30%, 01/11/23		200		190,745
BP Capital Markets PLC
2.50%, 11/06/22		50		46,260
Citigroup Inc.
3.38%, 03/01/23		100		95,364
4.05%, 07/30/22		50		49,935
General Electric Capital Corp.
3.15%, 09/07/22		200		195,737
ING U.S. Inc.
5.50%, 07/15/22		50		55,456
J.P. Morgan Chase & Co.
3.20%, 01/25/23		300		287,112

				920,609
ELECTRIC UTILITIES — 2.50%
Duke Energy Progress Inc.
2.80%, 05/15/22 (Call 02/15/22)		100		97,190
Kansas City Power & Light Co.
3.15%, 03/15/23 (Call 12/15/22)		100		95,861
Oncor Electric Delivery Co. LLC
7.00%, 09/01/22		50		60,934

				253,985
ELECTRICAL EQUIPMENT — 1.89%
ABB Finance (USA) Inc.
2.88%, 05/08/22		100		96,886
Eaton Corp.
2.75%, 11/02/22		100		94,980

				191,866
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.47%
Jabil Circuit Inc.
4.70%, 09/15/22		50		47,750

				47,750


Security	Principal (000s)		Value

ENERGY EQUIPMENT & SERVICES — 0.50%
Weatherford International Ltd.
4.50%, 04/15/22 (Call 01/15/22)^c	$	50	$	50,573

				50,573
FOOD & STAPLES RETAILING — 1.59%
CVS Caremark Corp.
2.75%, 12/01/22 (Call 09/01/22)		100		93,991
Walgreen Co.
3.10%, 09/15/22		70		67,332

				161,323
FOOD PRODUCTS — 2.43%
ConAgra Foods Inc.
3.20%, 01/25/23 (Call 10/25/22)		100		94,824
Kraft Foods Group Inc.
3.50%, 06/06/22		100		100,011
Tyson Foods Inc.
4.50%, 06/15/22 (Call 03/15/22)		50		52,007

				246,842
HEALTH CARE PROVIDERS & SERVICES — 3.92%
Aetna Inc.
2.75%, 11/15/22 (Call 08/15/22)		100		93,655
McKesson Corp.
2.85%, 03/15/23 (Call 12/15/22)		70		65,748
UnitedHealth Group Inc.
2.88%, 03/15/23		150		142,864
WellPoint Inc.
3.30%, 01/15/23		100		95,733

				398,000
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.48%
Exelon Generation Co. LLC
4.25%, 06/15/22 (Call 03/15/22)		50		49,072

				49,072
INDUSTRIAL CONGLOMERATES — 0.47%
General Electric Co.
2.70%, 10/09/22		50		47,609

				47,609
INSURANCE — 1.82%
American International Group Inc.
4.88%, 06/01/22		100		108,968
Berkshire Hathaway Inc.
3.00%, 02/11/23		50		48,388
Hartford Financial Services Group Inc.
5.13%, 04/15/22		25		27,653

				185,009
INTERNET & CATALOG RETAIL — 1.29%
Amazon.com Inc.
2.50%, 11/29/22 (Call 08/29/22)		70		64,129


Security	Principal (000s)		Value

QVC Inc.
4.38%, 03/15/23	$	70	$	67,229

				131,358
LIFE SCIENCES TOOLS & SERVICES — 0.66%
Thermo Fisher Scientific Inc.
3.15%, 01/15/23 (Call 10/15/22)		70		66,839

				66,839
MEDIA — 4.39%
21st Century Fox America Inc.
3.00%, 09/15/22		50		48,014
Comcast Corp.
3.13%, 07/15/22		150		145,932
Discovery Communications LLC
3.30%, 05/15/22		75		72,987
Omnicom Group Inc.
3.63%, 05/01/22		50		49,846
Time Warner Entertainment Co. LP
8.38%, 03/15/23		50		59,454
Time Warner Inc.
3.40%, 06/15/22		70		69,403

				445,636
METALS & MINING — 2.50%
Barrick Gold Corp.
3.85%, 04/01/22		50		46,441
Freeport-McMoRan Copper & Gold Inc.
3.88%, 03/15/23 (Call 12/15/22)		100		95,376
Goldcorp Inc.
3.70%, 03/15/23 (Call 12/15/22)		70		64,323
Teck Resources Ltd.
3.75%, 02/01/23 (Call 11/01/22)^c		50		47,292

				253,432
MULTILINE RETAIL — 0.46%
Macy’s Retail Holdings Inc.
2.88%, 02/15/23 (Call 11/15/22)		50		46,606

				46,606
OIL, GAS & CONSUMABLE FUELS — 6.00%
Continental Resources Inc.
5.00%, 09/15/22 (Call 03/15/17)		50		51,500
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)^c		70		66,814
Devon Energy Corp.
3.25%, 05/15/22 (Call 02/15/22)		70		67,922
Kinder Morgan Energy Partners LP
3.45%, 02/15/23 (Call 11/15/22)		100		93,916
Marathon Oil Corp.
2.80%, 11/01/22 (Call 08/01/22)		70		65,735
Murphy Oil Corp.
4.00%, 06/01/22 (Call 03/01/22)		50		48,553
Phillips 66
4.30%, 04/01/22		50		51,995
Pioneer Natural Resources Co.
3.95%, 07/15/22 (Call 04/15/22)		50		50,638


Security	Principal (000s)		Value

Plains All American Pipeline LP/PAA Finance Corp.
2.85%, 01/31/23 (Call 10/31/22)	$	70	$	65,134
Williams Partners LP
3.35%, 08/15/22 (Call 05/15/22)		50		47,362

				609,569
PERSONAL PRODUCTS — 0.33%
Avon Products Inc.
5.00%, 03/15/23^c		35		33,833

				33,833
PHARMACEUTICALS — 3.19%
AbbVie Inc.
2.90%, 11/06/22		120		114,619
Actavis Inc.
3.25%, 10/01/22 (Call 07/01/22)		100		94,773
GlaxoSmithKline Capital Inc.
2.80%, 03/18/23		50		47,555
Zoetis Inc.
3.25%, 02/01/23 (Call 11/01/22)		70		66,944

				323,891
REAL ESTATE INVESTMENT TRUSTS (REITS) — 3.65%
American Tower Corp.
3.50%, 01/31/23		70		66,018
AvalonBay Communities Inc.
2.85%, 03/15/23 (Call 12/15/22)		100		92,016
Boston Properties LP
3.85%, 02/01/23 (Call 11/01/22)		100		100,239
Digital Realty Trust LP
3.63%, 10/01/22 (Call 07/01/22)		50		45,811
Ventas Realty LP/Ventas Capital Corp.
3.25%, 08/15/22 (Call 05/15/22)		70		66,000

				370,084
ROAD & RAIL — 1.79%
Burlington Northern Santa Fe Corp.
3.00%, 03/15/23 (Call 12/15/22)		70		66,243
Norfolk Southern Corp.
3.00%, 04/01/22 (Call 01/01/22)		50		48,555
Union Pacific Corp.
2.95%, 01/15/23 (Call 10/15/22)		70		66,915

				181,713
SOFTWARE — 0.64%
Oracle Corp.
2.50%, 10/15/22		70		65,345

				65,345
SPECIALTY RETAIL — 0.97%
AutoZone Inc.
3.70%, 04/15/22 (Call 01/15/22)		50		49,655
Staples Inc.
4.38%, 01/12/23 (Call 10/12/22)^c		50		48,404

				98,059


Security	Principal or Shares (000s)		Value

TOBACCO — 0.92%
Altria Group Inc.
2.85%, 08/09/22	$	50	$	46,784
Reynolds American Inc.
3.25%, 11/01/22		50		47,012

				93,796
WIRELESS TELECOMMUNICATION SERVICES — 0.70%
Rogers Communications Inc.
3.00%, 03/15/23 (Call 12/15/22)		75		71,143

				71,143

TOTAL CORPORATE BONDS & NOTES (Cost: $6,848,042)				6,920,512

INVESTMENT COMPANIES — 29.62%
iSharesBond Mar 2023 Corporate ex-Financials Term ETF^b,c		32		3,006,671

TOTAL INVESTMENT COMPANIES (Cost: $2,974,253)				3,006,671

SHORT-TERM INVESTMENTS — 5.78%

MONEY MARKET FUNDS — 5.78%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,d,e		343		342,988
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,d,e		29		29,492
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,d		215		214,878

				587,358

TOTAL SHORT-TERM INVESTMENTS (Cost: $587,358)				587,358


TOTAL INVESTMENTS IN SECURITIES — 103.57% (Cost: $10,409,653)				10,514,541
Other Assets, Less Liabilities — (3.57)%				(362,743	)

NET ASSETS — 100.00%			$	10,151,798

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

^b	Affiliated issuer. See Note 2.

^c	All or a portion of this security represents a security on loan. See Note 1.

^d	The rate quoted is the annualized seven-day yield of the fund at period end.

^e	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal or Shares (000s)		Value

U.S. GOVERNMENT OBLIGATIONS — 99.85%
U.S. Treasury Inflation-Indexed Bonds
0.13%, 04/15/16^a	$	291,642	$	300,619,142
0.13%, 04/15/17^a		829,300		858,584,713
0.13%, 04/15/18^a		1,463,852		1,510,969,573
0.13%, 01/15/22^a		532,640		525,649,032
0.13%, 07/15/22^a		557,363		549,089,332
0.13%, 01/15/23^a		527,995		513,640,103
0.38%, 07/15/23^a		399,137		397,079,236
0.50%, 04/15/15^a		193,459		197,962,764
0.63%, 07/15/21^a		479,905		498,801,762
0.63%, 01/15/24		624,936		629,818,102
0.63%, 02/15/43^a		181,287		150,015,091
0.75%, 02/15/42^a		295,207		254,477,472
1.13%, 01/15/21^a		775,956		832,940,252
1.25%, 04/15/14^a		354		355,636
1.25%, 07/15/20^a		280,045		305,467,792
1.38%, 07/15/18^a		20,410		22,390,038
1.38%, 01/15/20^a		352,849		385,818,756
1.63%, 01/15/15^a		339,552		349,738,722
1.63%, 01/15/18^a		108,646		119,204,521
1.75%, 01/15/28^a		224,053		248,908,693
1.88%, 07/15/15^a		222,912		234,962,654
1.88%, 07/15/19^a		244,189		275,208,597
2.00%, 07/15/14^a		18,848		19,242,858
2.00%, 01/15/16		482,334		514,815,794
2.00%, 01/15/26^a		277,042		317,213,216
2.13%, 01/15/19^a		6,324		7,148,853
2.13%, 02/15/40		148,408		176,396,840
2.13%, 02/15/41^a		178,692		212,866,599
2.38%, 01/15/17		186,837		206,572,093
2.38%, 01/15/25^a		375,801		446,029,224
2.38%, 01/15/27^a		213,800		254,722,534
2.50%, 07/15/16^a		266,766		293,442,197
2.50%, 01/15/29^a		234,599		285,807,710
2.63%, 07/15/17^a		1,567		1,774,189
3.38%, 04/15/32		57,768		80,117,131
3.63%, 04/15/28^a		180,869		247,083,383
3.88%, 04/15/29		280,870		398,220,806

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $12,584,507,465)				12,623,155,410

SHORT-TERM INVESTMENTS — 45.58%

MONEY MARKET FUNDS — 45.58%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		5,075,343		5,075,342,555
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		436,400		436,399,571


Security	Shares (000s)		Value

BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		250,762	$	250,761,946

				5,762,504,072

TOTAL SHORT-TERM INVESTMENTS (Cost: $5,762,504,072)				5,762,504,072


TOTAL INVESTMENTS IN SECURITIES — 145.43% (Cost: $18,347,011,537)				18,385,659,482
Other Assets, Less Liabilities — (45.43)%				(5,743,747,565	)

NET ASSETS — 100.00%			$	12,641,911,917

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

U.S. GOVERNMENT OBLIGATIONS — 98.67%
U.S. Treasury Bonds
2.75%, 08/15/42	$	572	$	482,089
2.75%, 11/15/42		165		138,943
3.00%, 05/15/42^a		161		143,310
3.13%, 11/15/41		1,943		1,779,574
3.13%, 02/15/42		423		386,950
3.13%, 02/15/43		1,394		1,267,110
3.63%, 08/15/43^a		286		286,069
3.75%, 11/15/43^a		557		569,602
4.38%, 02/15/38^a		649		742,133
4.38%, 05/15/41^a		2,469		2,825,032
4.50%, 02/15/36^a		193		225,239
4.50%, 05/15/38^a		1,258		1,464,821
6.25%, 08/15/23		123		161,613
6.25%, 05/15/30^a		739		1,023,888
6.63%, 02/15/27		235		327,642
6.75%, 08/15/26^a		555		777,629
7.13%, 02/15/23		2,635		3,629,534
U.S. Treasury Notes
0.13%, 04/30/15^a		1,107		1,106,191
0.25%, 05/15/15^a		1,480		1,481,391
0.25%, 08/15/15		381		381,226
0.25%, 09/30/15^a		1,350		1,349,633
0.25%, 10/15/15		741		740,770
0.25%, 04/15/16		1,116		1,112,382
0.38%, 11/15/14		35		35,066
0.38%, 08/31/15		3,450		3,457,349
0.50%, 07/31/17^a		188		185,118
0.63%, 11/15/16^a		61		61,012
0.75%, 01/15/17		1,969		1,973,119
0.75%, 12/31/17		935		921,620
0.88%, 11/30/16		6,624		6,666,658
0.88%, 07/31/19^a		2,351		2,248,708
1.00%, 10/31/16^a		2,123		2,144,713
1.00%, 06/30/19^a		427		412,038
1.00%, 08/31/19^a		1,062		1,020,221
1.00%, 11/30/19		782		746,661
1.13%, 03/31/20^a		334		318,626
1.13%, 04/30/20^a		416		395,924
1.25%, 11/30/18^a		11,370		11,257,665
1.25%, 10/31/19		706		686,027
1.25%, 02/29/20		2,180		2,099,306
1.38%, 11/30/18		31		30,801
1.38%, 02/28/19		65		64,478
1.38%, 05/31/20		621		599,222
1.50%, 06/30/16^a		1,042		1,067,227
1.50%, 07/31/16		1,575		1,613,611
1.63%, 11/15/22^a		858		795,392
1.75%, 05/31/16^a		628		646,821
1.88%, 06/30/15		4,418		4,521,911
1.88%, 06/30/20^a		1,394		1,384,995
2.00%, 09/30/20		609		606,838
2.00%, 11/30/20		1,897		1,883,859
2.00%, 11/15/21		278		271,339
2.00%, 02/15/23^a		721		687,153
2.13%, 11/30/14		121		122,971
2.13%, 08/31/20^a		162		162,904


Security	Principal or Shares (000s)		Value

2.13%, 08/15/21	$	1,155	$	1,143,288
2.25%, 11/30/17		1		835
2.38%, 10/31/14		36		36,597
2.38%, 02/28/15^a		4,762		4,873,634
2.38%, 12/31/20		522		530,545
2.50%, 06/30/17		2,720		2,864,259
2.50%, 08/15/23		2,376		2,347,532
2.75%, 11/30/16		730		772,924
3.13%, 05/15/21^a		2,254		2,395,619
3.25%, 03/31/17^a		7,778		8,373,874
4.50%, 02/15/16		8,889		9,638,076
4.63%, 02/15/17		513		572,710
5.13%, 05/15/16^a		4,394		4,863,015
8.75%, 08/15/20		1,196		1,698,511

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost: $112,664,156)				111,603,543

SHORT-TERM INVESTMENTS — 42.02%

MONEY MARKET FUNDS — 42.02%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^b,c,d		41,767		41,767,120
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^b,c,d		3,591		3,591,315
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^b,c		2,171		2,171,244

				47,529,679

TOTAL SHORT-TERM INVESTMENTS (Cost: $47,529,679)				47,529,679


TOTAL INVESTMENTS IN SECURITIES — 140.69% (Cost: $160,193,835)				159,133,222
Other Assets, Less Liabilities — (40.69)%				(46,023,577	)

NET ASSETS — 100.00%			$	113,109,645

^a	All or a portion of this security represents a security on loan. See Note 1.

^b	Affiliated issuer. See Note 2.

^c	The rate quoted is the annualized seven-day yield of the fund at period end.

^d	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.


Security	Principal (000s)		Value

CORPORATE BONDS & NOTES — 97.08%

DIVERSIFIED FINANCIAL SERVICES — 2.21%
National Rural Utilities Cooperative Finance Corp.
4.75%, 04/30/43 (Call 04/30/23)^a	$	50	$	46,875
5.45%, 02/01/18		150		170,324

				217,199
ELECTRIC UTILITIES — 44.95%
Alabama Power Co.
6.00%, 03/01/39^b		150		180,458
Appalachian Power Co.
7.00%, 04/01/38		75		94,372
Arizona Public Service Co.
8.75%, 03/01/19		100		128,526
CenterPoint Energy Houston Electric LLC
3.55%, 08/01/42 (Call 02/01/42)		50		43,328
Duke Energy Carolinas LLC
4.00%, 09/30/42 (Call 03/30/42)		75		70,443
6.05%, 04/15/38		150		184,731
7.00%, 11/15/18		150		183,812
Duke Energy Florida Inc.
3.85%, 11/15/42 (Call 05/15/42)^b		50		45,505
6.40%, 06/15/38		50		63,765
Entergy Louisiana LLC
5.40%, 11/01/24		100		114,500
Florida Power & Light Co.
4.05%, 06/01/42 (Call 12/01/41)		50		47,618
5.69%, 03/01/40		150		178,176
Georgia Power Co.
2.85%, 05/15/22^b		50		48,138
4.30%, 03/15/43		25		23,711
Indiana Michigan Power Co.
7.00%, 03/15/19		150		181,896
Kansas City Power & Light Co.
5.30%, 10/01/41 (Call 04/01/41)		50		52,722
Kentucky Utilities Co.
5.13%, 11/01/40 (Call 05/01/40)		75		82,497
MidAmerican Energy Holdings Co.
5.15%, 11/15/43 (Call 05/15/43)^c		25		26,392
6.13%, 04/01/36		225		265,607
Nevada Power Co.
6.50%, 08/01/18		100		118,965
7.13%, 03/15/19		100		123,212
Nisource Finance Corp.
5.45%, 09/15/20		200		228,127
6.13%, 03/01/22		100		115,535
Northern States Power Co.
3.40%, 08/15/42 (Call 02/15/42)		50		42,107
NSTAR Electric Co.
5.63%, 11/15/17		150		169,496
Oglethorpe Power Corp.
4.20%, 12/01/42		50		45,897
Oncor Electric Delivery Co. LLC
7.00%, 05/01/32		100		126,204
Pacific Gas & Electric Co.
5.80%, 03/01/37		100		114,260
6.05%, 03/01/34		125		147,250
Potomac Electric Power Co.
4.15%, 03/15/43 (Call 09/15/42)^b		25		23,885
PPL Capital Funding Inc.
3.40%, 06/01/23 (Call 03/01/23)		50		47,612
4.70%, 06/01/43 (Call 12/01/42)		35		32,760


Security	Principal (000s)		Value

Progress Energy Inc.
3.15%, 04/01/22 (Call 01/01/22)^b	$	100	$	98,101
Public Service Co. of Colorado
2.25%, 09/15/22 (Call 03/15/22)		75		69,570
3.95%, 03/15/43 (Call 09/15/42)^b		50		46,529
Scottish Power Ltd.
5.38%, 03/15/15		25		26,214
South Carolina Electric & Gas Co.
6.63%, 02/01/32		100		125,404
Southern California Edison Co.
4.05%, 03/15/42 (Call 09/15/41)		25		23,658
Series 08-A
5.95%, 02/01/38^b		150		180,883
Toledo Edison Co. (The)
6.15%, 05/15/37		35		40,110
Virginia Electric and Power Co.
2.75%, 03/15/23 (Call 12/15/22)^b		50		47,779
4.00%, 01/15/43 (Call 07/15/42)		50		46,637
8.88%, 11/15/38		75		118,657
Series D
4.65%, 08/15/43 (Call 02/15/43)		50		51,508
Xcel Energy Inc.
4.70%, 05/15/20 (Call 11/15/19)		175		192,795

				4,419,352
GAS UTILITIES — 4.45%
AGL Capital Corp.
5.88%, 03/15/41 (Call 09/15/40)		25		29,040
Atmos Energy Corp.
8.50%, 03/15/19		50		64,658
CenterPoint Energy Resources Corp.
4.50%, 01/15/21 (Call 10/15/20)		100		108,306
National Fuel Gas Co.
3.75%, 03/01/23 (Call 12/01/22)		50		47,883
ONEOK Inc.
4.25%, 02/01/22 (Call 11/02/21)		50		47,972
Southern Natural Gas Co. LLC
5.90%, 04/01/17^c		125		139,508

				437,367
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 4.85%
Constellation Energy Group Inc.
5.15%, 12/01/20 (Call 09/01/20)		50		53,944
Exelon Generation Co. LLC
4.25%, 06/15/22 (Call 03/15/22)		125		122,680
5.60%, 06/15/42 (Call 12/15/41)		90		87,825
PSEG Power LLC
5.32%, 09/15/16		150		163,171
TransAlta Corp.
4.50%, 11/15/22 (Call 08/15/22)		50		49,114

				476,734
MULTI-UTILITIES — 15.37%
Consolidated Edison Co. of New York Inc.
3.95%, 03/01/43 (Call 09/01/42)		50		46,145
Series 08-B
6.75%, 04/01/38		100		131,095
Consumers Energy Co. Series P
5.50%, 08/15/16		200		221,430
DTE Energy Co.
6.35%, 06/01/16		200		222,537
National Grid PLC
6.30%, 08/01/16		100		112,228


Security	Principal (000s)		Value

Public Service Electric & Gas Co.
2.38%, 05/15/23 (Call 02/15/23)	$	100	$	92,133
3.95%, 05/01/42 (Call 11/01/41)		50		46,581
Puget Sound Energy Inc.
5.76%, 10/01/39		100		119,465
San Diego Gas & Electric Co.
3.00%, 08/15/21		150		151,840
Sempra Energy
2.88%, 10/01/22 (Call 07/01/22)		25		23,539
6.00%, 10/15/39		25		28,898
6.50%, 06/01/16		100		112,177
TECO Finance Inc.
6.57%, 11/01/17		175		203,198

				1,511,266
OIL, GAS & CONSUMABLE FUELS — 24.61%
Buckeye Partners LP
2.65%, 11/15/18 (Call 10/15/18)		25		24,827
4.15%, 07/01/23 (Call 04/01/23)		25		24,772
DCP Midstream Operating LP
3.88%, 03/15/23 (Call 12/15/22)^b		25		23,862
El Paso Natural Gas Co.
5.95%, 04/15/17		75		83,209
Enbridge Energy Partners LP
4.20%, 09/15/21 (Call 06/15/21)		150		154,137
Energy Transfer Partners LP
5.15%, 02/01/43 (Call 08/01/42)		35		32,880
5.95%, 02/01/15		150		157,815
6.50%, 02/01/42 (Call 08/01/41)		100		109,219
Enterprise Products Operating LLC
3.35%, 03/15/23 (Call 12/15/22)		25		24,217
4.45%, 02/15/43 (Call 08/15/42)		150		138,647
4.85%, 03/15/44 (Call 09/15/43)		50		48,961
5.20%, 09/01/20^b		225		254,007
Kinder Morgan Energy Partners LP
5.00%, 08/15/42 (Call 02/15/42)		25		23,299
5.80%, 03/15/35		250		258,534
Magellan Midstream Partners LP
4.25%, 02/01/21		100		107,069
ONEOK Partners LP
6.13%, 02/01/41 (Call 08/01/40)		75		81,792
Panhandle Eastern Pipe Line Co. LP
6.20%, 11/01/17		25		28,568
Plains All American Pipeline LP/PAA Finance Corp.
5.00%, 02/01/21 (Call 11/01/20)		175		194,352
Spectra Energy Capital LLC
3.30%, 03/15/23 (Call 12/15/22)		50		44,964
Spectra Energy Partners LP
4.75%, 03/15/24 (Call 12/15/23)		50		52,875
Sunoco Logistics Partners Operations LP
3.45%, 01/15/23 (Call 10/15/22)		50		46,839
TransCanada PipeLines Ltd.
2.50%, 08/01/22		125		116,772
7.63%, 01/15/39		100		137,124
Western Gas Partners LP
5.38%, 06/01/21 (Call 03/01/21)		50		53,986
Williams Companies Inc. (The)
7.50%, 01/15/31		25		26,945
7.88%, 09/01/21		50		59,192
Williams Partners LP
6.30%, 04/15/40		100		110,526

				2,419,390


Security	Principal or Shares (000s)		Value

WATER UTILITIES — 0.64%
American Water Capital Corp.
6.59%, 10/15/37	$	50	$	62,411

				62,411

TOTAL CORPORATE BONDS & NOTES (Cost: $9,689,171)				9,543,719

SHORT-TERM INVESTMENTS — 6.25%

MONEY MARKET FUNDS — 6.25%
BlackRock Cash Funds: Institutional, SL Agency Shares
0.13%^d,e,f		435		435,115
BlackRock Cash Funds: Prime, SL Agency Shares
0.12%^d,e,f		37		37,413
BlackRock Cash Funds: Treasury, SL Agency Shares
0.00%^d,e		143		142,570

				615,098

TOTAL SHORT-TERM INVESTMENTS (Cost: $615,098)				615,098


TOTAL INVESTMENTS IN SECURITIES — 103.33% (Cost: $10,304,269)				10,158,817
Other Assets, Less Liabilities — (3.33)%				(327,811	)

NET ASSETS — 100.00%			$	9,831,006

^a	Variable rate security. Rate shown is as of report date.

^b	All or a portion of this security represents a security on loan. See Note 1.

^c	This security may be resold to qualified institutional buyers under Rule 144A of the Securities Act of 1933.

^d	Affiliated issuer. See Note 2.

^e	The rate quoted is the annualized seven-day yield of the fund at period end.

^f	All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.

iShares Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust pursuant to an Agreement and Declaration of Trust dated December 16, 1999.

These schedules of investments relate only to the following funds (each, a “Fund,” and collectively, the “Funds”):

Each Fund’s investments are valued at fair value each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date should the reporting date end on a day that the Fund’s listing exchange is not open. Accounting principles generally accepted in the United States of America (“U.S. GAAP”) define fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) provides oversight of the valuation of investments for the Funds. The investments of each Fund are valued pursuant to policies and procedures developed by the Global Valuation Committee and approved by the Board of Trustees of the Trust (the “Board”).

In the event that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the fair value of such investment or if a price is not available, the investment will be valued based upon other available factors deemed relevant by the Global Valuation Committee, in accordance with policies approved by the Board. These factors include but are not limited to (i) attributes specific to the investment; (ii) the principal market for the investment; (iii) the customary participants in the principal market for the investment; (iv) data assumptions by market participants for the investment, if reasonably available; (v) quoted prices for similar investments in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and/or default rates. Valuations based on such factors are reported to the Board on a quarterly basis.

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

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

Various inputs are used in determining the fair value of financial instruments. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for a financial instrument within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and is not necessarily an indication of the risk associated with investing in the instrument. The three levels of the fair value hierarchy are as follows:

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

The following table summarizes the value of each of the Funds’ investments according to the fair value hierarchy as of January 31, 2014. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.

The iShares GNMA Bond ETF may purchase mortgage pass-through securities on a when-issued or to-be-announced (“TBA”) basis, with payment and delivery scheduled for a future date. The Fund may enter into a TBA agreement, sell the obligation to purchase the pools stipulated in the TBA agreement prior to the stipulated settlement date and enter into a new TBA agreement for future delivery of pools of mortgage pass-through securities (a “TBA roll”). A TBA roll is treated by the Fund as a purchase transaction and a sale transaction in which the Fund realizes a gain or loss. The Fund’s use of TBA rolls may cause the Fund to experience higher portfolio turnover and higher transaction costs. The Fund could be exposed to possible risk if there is adverse market action, expenses or delays in connection with the TBA transactions, or if the counterparty fails to complete the transaction.

The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.

As of January 31, 2014, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

Each Fund may lend its investment securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current value of the securities on loan . The market value of the loaned securities is determined at the close of each business day of the Funds and any additional required collateral is delivered to the Funds on the next business day. Any securities lending cash collateral may be reinvested in certain short-term instruments either directly on behalf of a fund or through one or more joint accounts or money market funds, including those managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment advisor, or its affiliates.

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Funds benefit from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of securities lent. Each Fund could suffer a loss if the value of the investments purchased with cash collateral falls below the value of the cash collateral received.

As of January 31, 2014, any securities on loan were collateralized by cash. The cash collateral received was invested in money market funds managed by BFA.

Each Fund may invest its positive cash balances in certain money market funds managed by BFA, or an affiliate. BFA is a California corporation indirectly owned by BlackRock.

The PNC Financial Services Group, Inc. is the largest stockholder of BlackRock and is considered to be an affiliate of the Funds for 1940 Act purposes.

Certain Funds, in order to improve their portfolio liquidity and their ability to track their respective underlying index, may invest in shares of other iShares funds that invest in securities in each Fund’s respective underlying index.

Investments in issuers considered to be affiliates of the Funds (excluding money market funds) during the three months ended January 31, 2014, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.


iShares ETF		iShares/iSharesBond ETF
0-5 Year High Yield Corporate Bond		International Inflation-Linked Bond
0-5 Year Investment Grade Corporate Bond		International Treasury Bond
0-5 Year TIPS Bond		J.P. Morgan USD Emerging Markets Bond
1-3 Year International Treasury Bond		Mar 2016 Corporate ex-Financials Term^a,b
Aaa - A Rated Corporate Bond		Mar 2016 Corporate Term^a,c
Baa - Ba Rated Corporate Bond		Mar 2018 Corporate ex-Financials Term^a,d
B - Ca Rated Corporate Bond		Mar 2018 Corporate Term^a,e
CMBS		Mar 2020 Corporate ex-Financials Term^a,f
Core Short-Term U.S. Bond		Mar 2020 Corporate Term^a,g
Financials Bond		Mar 2023 Corporate ex-Financials Term^a,h
Floating Rate Bond		Mar 2023 Corporate Term^a,i
Global Inflation-Linked Bond		TIPS Bond
GNMA Bond		U.S. Treasury Bond
Industrials Bond		Utilities Bond


iShares/iSharesBond ETF and Investment Type	Investments
iShares/iSharesBond ETF and Investment Type	Level 1		Level 2		Level 3		Total
0-5 Year High Yield Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	33,021,910	$	—	$	33,021,910
Money Market Funds		4,184,571		—		—		4,184,571

	$	4,184,571	$	33,021,910	$	—	$	37,206,481


0-5 Year Investment Grade Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	9,860,239	$	—	$	9,860,239
Foreign Agency Obligations		—		76,735		—		76,735
Money Market Funds		300,530		—		—		300,530

	$	300,530	$	9,936,974	$	—	$	10,237,504


0-5 Year TIPS Bond
Assets:
U.S. Government Obligations	$	—	$	574,703,467	$	—	$	574,703,467
Money Market Funds		252,537,948		—		—		252,537,948

	$	252,537,948	$	574,703,467	$	—	$	827,241,415


1-3 Year International Treasury Bond
Assets:
Foreign Government Obligations	$	—	$	170,164,908	$	—	$	170,164,908
Money Market Funds		126,146		—		—		126,146

	$	126,146	$	170,164,908	$	—	$	170,291,054


Aaa - A Rated Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	389,647,830	$	—	$	389,647,830
Money Market Funds		18,062,063		—		—		18,062,063

	$	18,062,063	$	389,647,830	$	—	$	407,709,893


Baa - Ba Rated Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	20,167,528	$	—	$	20,167,528
Money Market Funds		716,099		—		—		716,099

	$	716,099	$	20,167,528	$	—	$	20,883,627


B - Ca Rated Corporate Bond
Assets:
Corporate Bonds & Notes	$	—	$	10,275,358	$	—	$	10,275,358
Money Market Funds		714,280		—		—		714,280

	$	714,280	$	10,275,358	$	—	$	10,989,638


iShares/iSharesBond ETF	Tax Cost		Gross Unrealized Appreciation		Gross Unrealized Depreciation			Net Unrealized Appreciation (Depreciation)
0-5 Year High Yield Corporate Bond	$	37,135,445	$	217,468	$	(146,432	)	$	71,036
0-5 Year Investment Grade Corporate Bond		10,195,741		43,916		(2,153	)		41,763
0-5 Year TIPS Bond		828,885,311		1,194,342		(2,838,238	)		(1,643,896	)
1-3 Year International Treasury Bond		169,919,338		3,917,801		(3,546,085	)		371,716
Aaa - A Rated Corporate Bond		419,775,316		1,329,281		(13,394,704	)		(12,065,423	)
Baa - Ba Rated Corporate Bond		20,970,399		311,398		(398,170	)		(86,772	)
B - Ca Rated Corporate Bond		10,647,383		432,944		(90,689	)		342,255
CMBS		88,809,467		975,754		(403,268	)		572,486
Core Short-Term U.S. Bond		122,697,621		297,345		(71,723	)		225,622
Financials Bond		10,116,816		385,364		(28,859	)		356,505
Floating Rate Bond		3,761,162,920		7,773,854		(1,154,891	)		6,618,963
Global Inflation-Linked Bond		26,518,603		379,344		(1,574,799	)		(1,195,455	)
GNMA Bond		42,597,044		154,304		(391,503	)		(237,199	)
Industrials Bond		15,644,177		105,745		(413,099	)		(307,354	)
International Inflation-Linked Bond		109,669,293		2,539,552		(11,842,247	)		(9,302,695	)
International Treasury Bond		522,703,596		18,985,883		(13,580,566	)		5,405,317
J.P. Morgan USD Emerging Markets Bond		3,610,097,332		9,443,015		(244,435,416	)		(234,992,401	)
Mar 2016 Corporate ex-Financials Term		34,685,442		67,756		(18,587	)		49,169
Mar 2016 Corporate Term		20,279,012		124,403		(1,360	)		123,043
Mar 2018 Corporate ex-Financials Term		180,668,309		357,998		(919,388	)		(561,390	)
Mar 2018 Corporate Term		25,961,722		373,072		(3,848	)		369,224
Mar 2020 Corporate ex-Financials Term		68,863,391		87,823		(1,388,730	)		(1,300,907	)
Mar 2020 Corporate Term		10,054,100		256,853		(1,053	)		255,800
Mar 2023 Corporate ex-Financials Term		45,365,266		7,721		(2,105,309	)		(2,097,588	)
Mar 2023 Corporate Term		10,409,653		114,916		(10,028	)		104,888
TIPS Bond		18,391,873,509		259,038,059		(265,252,086	)		(6,214,027	)
U.S. Treasury Bond		160,310,697		138,065		(1,315,540	)		(1,177,475	)
Utilities Bond		10,304,269		99,948		(245,400	)		(145,452	)


iShares/iSharesBond ETF and Name of Affiliated Issuer	Shares or Principal Held at Beginning of Period (000s)		Shares or Principal Purchased (000s)		Shares or Principal Sold (000s)		Shares or Principal Held at End of Period (000s)		Value at End of Period		Dividend or Interest Income		Net Realized Gain (Loss)
0-5 Year Investment Grade Corporate Bond
PNC Funding Corp.
5.25%, 11/15/15	$	50	$	—	$	—	$	50	$	53,798	$	148	$	—

Aaa - A Rated Corporate Bond
PNC Bank N.A.
2.70%, 11/01/22	$	250	$	—	$	—	$	250	$	232,551	$	1,704	$	—
2.95%, 01/30/23		400		—		—		400		376,101		3,075		—
4.20%, 11/01/25		350		—		—		350		353,267		3,425		—