|
|
OCTOBER 31, 2022 |
| 2022 Annual Report | ||
iShares Trust
| · |
iShares iBonds Dec 2022 Term Muni Bond ETF | IBMK | NYSE Arca |
| · |
iShares iBonds Dec 2023 Term Muni Bond ETF | IBML | Cboe BZX |
| · |
iShares iBonds Dec 2024 Term Muni Bond ETF | IBMM | Cboe BZX |
| · |
iShares iBonds Dec 2025 Term Muni Bond ETF | IBMN | Cboe BZX |
| · |
iShares iBonds Dec 2026 Term Muni Bond ETF | IBMO | Cboe BZX |
| · |
iShares iBonds Dec 2027 Term Muni Bond ETF | IBMP | Cboe BZX |
| · |
iShares iBonds Dec 2028 Term Muni Bond ETF | IBMQ | Cboe BZX |
Dear Shareholder,
Significant economic headwinds emerged during the 12-month reporting period ended October 31, 2022, disrupting the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022 before returning to moderate growth in the third quarter, marking a shift to a more challenging post-reopening economic environment. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.
Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks as inflation decreased the value of future cash flows and investors shifted focus to balance sheet resilience. Both large- and small-capitalization U.S. stocks fell, although declines for small-capitalization U.S. stocks were slightly steeper. Emerging market stocks and international equities from developed markets also declined significantly, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield rose notably during the reporting period, driving its price down, as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).
The U.S. Federal Reserve (the “Fed”), acknowledging that inflation has been more persistent than expected, raised interest rates five times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and is accelerating the reduction of its balance sheet. As investors attempted to assess the Fed’s future trajectory, the Fed’s statements late in the reporting period led markets to believe that additional tightening is likely in the near term.
The pandemic’s restructuring of the economy brought an ongoing mismatch between supply and demand, contributing to the current inflationary regime. While growth has slowed in 2022, we believe that taming inflation requires a more dramatic economic decline to bring demand back to a lower level that is more in line with the economy’s capacity. The Fed has been raising interest rates at the fastest pace in decades, and seems set to overtighten in its effort to get inflation back to target. With this in mind, we believe the possibility of a U.S. recession in the near-term is high, and the outlook for Europe and the U.K. is also troubling. Investors should expect a period of higher volatility as markets adjust to the new economic reality and policymakers attempt to adapt to rapidly changing conditions.
In this environment, while we favor an overweight to equities in the long-term, the market’s concerns over excessive rate hikes from central banks moderate our outlook. Rising input costs and a deteriorating economic backdrop in China and Europe are likely to challenge corporate earnings, so we are underweight equities overall in the near term. However, we see better opportunities in credit, where higher spreads provide income opportunities and partially compensate for inflation risk. We believe that investment-grade corporates, local-currency emerging market debt, and inflation-protected bonds (particularly in Europe) offer strong opportunities for a six- to twelve-month horizon.
Overall, our view is that investors need to think globally, position themselves to be prepared for a decarbonizing economy, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
| Total Returns as of October 31, 2022 | ||||
| 6-Month | 12-Month | |||
|
U.S.
large cap equities |
(5.50)% | (14.61)% | ||
|
U.S.
small cap equities |
(0.20) | (18.54) | ||
|
International
equities |
(12.70) | (23.00) | ||
|
Emerging
market equities |
(19.66) | (31.03) | ||
|
3-month Treasury bills |
0.72 | 0.79 | ||
|
U.S.
Treasury securities |
(8.24) | (17.68) | ||
|
U.S.
investment grade bonds |
(6.86) | (15.68) | ||
|
Tax-exempt municipal
bonds |
(4.43) | (11.98) | ||
|
U.S.
high yield bonds |
(4.71) | (11.76) | ||
|
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. | ||||
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T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
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iShares Trust
Municipal Bond Market Overview
Municipal bonds posted losses for the 12 months ended October 31, 2021 (the “reporting period”). The Bloomberg Municipal Bond Index returned 11.98%, outpacing the 15.68% return of the Bloomberg U.S. Aggregate Bond Index, a broad measure of U.S. bond performance.
The U.S. Federal Reserve’s (Fed’s) shift toward tighter monetary policy was the primary factor driving the market downturn. Annualized consumer price inflation, which had been under 3.0% for over a decade, began to rise throughout 2021 and ultimately climbed above 6.0% in the year’s fourth calendar quarter. The inflation picture soon grew even more challenging following Russia’s invasion of Ukraine in early 2022, which—together with the resulting sanctions—further disrupted global supply chains and contributed to a spike in energy prices. Inflation exceeded 8.0% in March 2022 and remained elevated throughout the reporting period, with a peak of 9.1% in June.
The Fed moved aggressively to calm price pressures, ending its stimulative quantitative easing program and boosting interest rates from a range of 0.0%-0.25% to 3.0-3.25% in five separate increases from March to September 2022. This marked the largest move in such a short interval since 1980. Evidence emerged later in the period that the Fed’s rate hikes had begun to reduce activity in certain segments of the economy; however, consumer price inflation remained elevated.
These circumstances weighed heavily on bond market performance. The yield on the two-year U.S. Treasury note rose from 0.49% at the beginning of the period to 4.48% by the end of October 2022, while the 10-year yield climbed from 1.55% to 4.04%. Municipal bonds declined along with Treasuries, and the downturn was exacerbated by heavy outflows from the category. However, tax-exempt issues outperformed both Treasuries and the broader bond market, as municipal bonds benefited from sharply reduced new-issue supply and improved finances for states and municipalities. The reopening of the economy, pandemic-era federal aid, and increasing tax receipts all played a role in bolstering the financial health of municipal issuers. As a result, default rates remained historically low on the low end of the historical range, boosting investor confidence in the asset class despite the broader “risk-off” tone. Notably, the sell-off led to a sizable increase in tax-equivalent yields and caused the ratio of municipal to U.S. Treasury yields to climb above the long-term average.
Higher-rated issues generally outperformed their lower-quality counterparts, reflecting the “flight to safety” brought about by the challenging market environment. The relative weakness in Puerto Rico bonds was an additional headwind for the high-yield category. Shorter-term securities strongly outpaced longer-term debt due to their lower degree of interest-rate sensitivity.
| 4 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2022 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2021 and before December 2, 2022, as represented by the S&P AMT-Free Municipal Series Dec 2022 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||
| 1 Year | 5 Years | Since Inception |
1 Year | 5 Years | Since Inception |
|||||||||||||||||||||||
|
Fund NAV |
0.32 | % | 1.33 | % | 1.89 | % | 0.32 | % | 6.85 | % | 14.38 | % | ||||||||||||||||
|
Fund Market |
0.21 | 1.29 | 1.88 | 0.21 | 6.61 | 14.29 | ||||||||||||||||||||||
|
Index |
0.63 | 1.55 | 2.02 | 0.63 | 7.99 | 15.38 | ||||||||||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was September 1, 2015. The first day of secondary market trading was September 3, 2015.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 1,006.40 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
5 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
39.7 | % | ||
|
AA+ |
22.6 | |||
|
AA |
15.6 | |||
|
AA- |
9.8 | |||
|
A+ |
1.9 | |||
|
A |
— | (b) | ||
|
A- |
0.1 | |||
|
BBB+ |
1.2 | |||
|
Not Rated |
10.5 | |||
|
Short-Term and Other Assets |
(1.4 | ) |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
New York |
15.6 | % | ||
|
California |
13.1 | |||
|
Ohio |
13.1 | |||
|
Texas |
6.7 | |||
|
Maryland |
6.5 | |||
|
Massachusetts |
6.5 | |||
|
Michigan |
4.2 | |||
|
Washington |
3.8 | |||
|
Pennsylvania |
3.6 | |||
|
Colorado |
3.6 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| (b) |
Rounds to less than 0.1% |
| 6 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2023 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2023 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2022 and before December 2, 2023, as represented by the S&P AMT-Free Municipal Series Dec 2023 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||
| 1 Year | 5 Years | Since Inception |
1 Year | 5 Years | Since Inception |
|||||||||||||||||||||||
|
Fund NAV |
(1.76 | )% | 1.28 | % | 1.57 | % | (1.76 | )% | 6.58 | % | 9.05 | % | ||||||||||||||||
|
Fund Market |
(1.77 | ) | 1.27 | 1.57 | (1.77 | ) | 6.52 | 9.03 | ||||||||||||||||||||
|
Index |
(1.49 | ) | 1.49 | 1.71 | (1.49 | ) | 7.69 | 9.86 | ||||||||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was April 11, 2017. The first day of secondary market trading was April 13, 2017.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 1,002.20 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
7 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2023 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
30.6 | % | ||
|
AA+ |
21.1 | |||
|
AA |
16.4 | |||
|
AA- |
10.6 | |||
|
A+ |
5.9 | |||
|
A |
0.8 | |||
|
A- |
1.0 | |||
|
BBB+ |
2.6 | |||
|
BBB |
0.2 | |||
|
Not Rated |
9.2 | |||
|
Short-Term and Other Assets |
1.6 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
11.4 | % | ||
|
Texas |
10.1 | |||
|
New York |
9.3 | |||
|
Washington |
5.9 | |||
|
Virginia |
4.8 | |||
|
Maryland |
4.7 | |||
|
Florida |
3.5 | |||
|
Ohio |
3.5 | |||
|
Wisconsin |
2.9 | |||
|
Nevada |
2.8 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 8 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2024 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2024 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2023 and before December 2, 2024, as represented by the S&P AMT-Free Municipal Series Dec 2024 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
| 1 Year | Since Inception |
1 Year | Since Inception |
|||||||||||||||||
|
Fund NAV |
(4.20 | )% | 1.77 | % | (4.20 | )% | 8.46 | % | ||||||||||||
|
Fund Market |
(4.22 | ) | 1.78 | (4.22 | ) | 8.48 | ||||||||||||||
|
Index |
(4.08 | ) | 1.88 | (4.08 | ) | 8.95 | ||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was March 20, 2018. The first day of secondary market trading was March 22, 2018.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 996.90 | $ | 0.91 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
9 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2024 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
30.0 | % | ||
|
AA+ |
22.1 | |||
|
AA |
14.2 | |||
|
AA- |
10.2 | |||
|
A+ |
6.9 | |||
|
A |
0.7 | |||
|
A- |
0.6 | |||
|
BBB+ |
2.3 | |||
|
Not Rated |
11.4 | |||
|
Short-Term and Other Assets |
1.6 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
12.2 | % | ||
|
Texas |
11.8 | |||
|
New York |
8.7 | |||
|
Washington |
4.7 | |||
|
Maryland |
4.1 | |||
|
Virginia |
4.1 | |||
|
Ohio |
3.6 | |||
|
Massachusetts |
3.4 | |||
|
North Carolina |
2.8 | |||
|
Florida |
2.8 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 10 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2025 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds maturing after December 31, 2024 and before December 2, 2025, as represented by the S&P AMT-Free Municipal Series Dec 2025 IndexTM (the“Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
| 1 Year | Since Inception |
1 Year | Since Inception |
|||||||||||||||||
|
Fund NAV |
(6.31 | )% | 2.01 | % | (6.31 | )% | 8.20 | % | ||||||||||||
|
Fund Market |
(6.60 | ) | 1.94 | (6.60 | ) | 7.93 | ||||||||||||||
|
Index |
(6.18 | ) | 1.89 | (6.18 | ) | 7.71 | ||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSETVALUE)
The inception date of the Fund was November 13, 2018. The first day of secondary market trading was November 15, 2018.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 990.60 | $ | 0.90 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
11 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2025 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
33.5 | % | ||
|
AA+ |
19.3 | |||
|
AA |
15.0 | |||
|
AA- |
11.8 | |||
|
A+ |
6.1 | |||
|
A |
1.0 | |||
|
A- |
1.0 | |||
|
BBB+ |
2.3 | |||
|
Not Rated |
8.6 | |||
|
Short-Term and Other Assets |
1.4 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
13.3 | % | ||
|
Texas |
11.6 | |||
|
New York |
7.5 | |||
|
Washington |
5.0 | |||
|
Virginia |
4.7 | |||
|
Maryland |
4.1 | |||
|
Massachusetts |
3.2 | |||
|
Illinois |
3.1 | |||
|
Tennessee |
3.1 | |||
|
Florida |
2.9 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 12 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2026 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2026 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2026, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 IndexTM (the“Index”).The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
| 1 Year | Since Inception |
1 Year | Since Inception |
|||||||||||||||||
|
Fund NAV |
(7.55 | )% | 0.44 | % | (7.55 | )% | 1.58 | % | ||||||||||||
|
Fund Market |
(7.89 | ) | 0.38 | (7.89 | ) | 1.35 | ||||||||||||||
|
Index |
(7.65 | ) | 0.50 | (7.65 | ) | 1.79 | ||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSETVALUE)
The inception date of the Fund was April 2, 2019. The first day of secondary market trading was April 4, 2019.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 986.70 | $ | 0.90 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
13 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2026 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
29.9 | % | ||
|
AA+ |
19.8 | |||
|
AA |
14.9 | |||
|
AA- |
14.1 | |||
|
A+ |
6.3 | |||
|
A |
1.0 | |||
|
A- |
0.7 | |||
|
BBB+ |
2.7 | |||
|
Not Rated |
9.1 | |||
|
Short-Term and Other Assets |
1.5 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
13.3 | % | ||
|
Texas |
11.0 | |||
|
New York |
9.2 | |||
|
Washington |
5.0 | |||
|
Virginia |
4.7 | |||
|
Maryland |
4.3 | |||
|
Massachusetts |
3.6 | |||
|
Florida |
3.0 | |||
|
Tennessee |
2.8 | |||
|
Ohio |
2.6 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by S&P Global Ratings, a widely used independent, nationally recognized statistical rating organization. S&P credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of BBB or higher. Below investment grade ratings are credit ratings of BB or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 14 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2027 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2027 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2027, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2027 IndexTM (the“Index”).The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
| 1 Year | Since Inception |
1 Year | Since Inception |
|||||||||||||||||
|
Fund NAV |
(8.60 | )% | 0.32 | % | (8.60 | )% | 1.13 | % | ||||||||||||
|
Fund Market |
(8.68 | ) | 0.35 | (8.68 | ) | 1.27 | ||||||||||||||
|
Index |
(9.00 | ) | 0.33 | (9.00 | ) | 1.17 | ||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSETVALUE)
The inception date of the Fund was April 9, 2019. The first day of secondary market trading was April 11, 2019.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 984.30 | $ | 0.90 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
15 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2027 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
26.6 | % | ||
|
AA+ |
22.6 | |||
|
AA |
14.6 | |||
|
AA- |
13.5 | |||
|
A+ |
4.2 | |||
|
A |
0.7 | |||
|
A- |
0.8 | |||
|
BBB+ |
3.1 | |||
|
Not Rated |
12.1 | |||
|
Short-Term and Other Assets |
1.8 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
13.3 | % | ||
|
New York |
11.7 | |||
|
Texas |
8.3 | |||
|
Washington |
5.4 | |||
|
Maryland |
5.0 | |||
|
Illinois |
3.7 | |||
|
Virginia |
3.4 | |||
|
Ohio |
3.0 | |||
|
Massachusetts |
2.9 | |||
|
Tennessee |
2.7 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 16 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of October 31, 2022 | iShares® iBonds® Dec 2028 Term Muni Bond ETF |
Investment Objective
The iShares iBonds Dec 2028 Term Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2028, as represented by the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
| Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||
| 1 Year | Since Inception |
1 Year | Since Inception |
|||||||||||||||||
|
Fund NAV |
(9.82 | )% | 0.20 | % | (9.82 | )% | 0.72 | % | ||||||||||||
|
Fund Market |
(9.94 | ) | 0.20 | (9.94 | ) | 0.72 | ||||||||||||||
|
Index |
(10.22 | ) | 0.10 | (10.22 | ) | 0.35 | ||||||||||||||
GROWTH OF $10,000 INVESTMENT
(SINCE INCEPTION AT NET ASSET VALUE)
The inception date of the Fund was April 16, 2019. The first day of secondary market trading was April 18, 2019.
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
| |
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
| $ | 1,000.00 | $ | 980.50 | $ | 0.90 | $ | 1,000.00 | $ | 1,024.30 | $ | 0.92 | 0.18 | % | |||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information. |
|
F U N D S U M M A R Y |
17 |
| Fund Summary as of October 31, 2022 (continued) | iShares® iBonds® Dec 2028 Term Muni Bond ETF |
Portfolio Information
CREDIT QUALITY ALLOCATION
| S&P Credit Rating* | |
Percent of Net Assets |
(a) | |
|
AAA |
29.1 | % | ||
|
AA+ |
19.2 | |||
|
AA |
13.9 | |||
|
AA- |
12.6 | |||
|
A+ |
4.4 | |||
|
A |
1.3 | |||
|
A- |
0.5 | |||
|
BBB+ |
2.4 | |||
|
Not Rated |
15.2 | |||
|
Short-Term and Other Assets |
1.4 |
TEN LARGEST STATES
| State(a) | Percent
of Net Assets |
|||
|
California |
12.4 | % | ||
|
New York |
11.4 | |||
|
Texas |
11.2 | |||
|
Maryland |
5.9 | |||
|
Washington |
5.2 | |||
|
Virginia |
5.0 | |||
|
Florida |
3.7 | |||
|
Ohio |
3.3 | |||
|
Illinois |
2.5 | |||
|
Tennessee |
2.5 | |||
| * |
Credit quality ratings shown reflect the ratings assigned by Moody’s Investors Service (“Moody’s”), a widely used independent, nationally recognized statistical rating organization. Moody’s credit ratings are opinions of the credit quality of individual obligations or of an issuer’s general creditworthiness. Investment grade ratings are credit ratings of Baa or higher. Below investment grade ratings are credit ratings of Ba or lower. Unrated investments do not necessarily indicate low credit quality. Credit quality ratings are subject to change. |
| (a) |
Excludes money market funds. |
| 18 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.
Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.
The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
The expense examples also provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in the Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.
|
A B O U T F U N D P E R F O R M A N C E / D I S C L O S U R E O F E X P E N S E S |
19 |
|
October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
|
Alabama — 0.5% |
||||||||
|
Alabama Public School and College Authority RB, Series A, 5.00%, 11/01/22 |
$ | 1,610 | $ | 1,610,000 | ||||
|
City of Huntsville AL GOL, Series C, 5.00%, 11/01/22 |
170 | 170,000 | ||||||
|
City of Huntsville AL Water Revenue RB, 5.00%, 11/01/22 |
180 | 180,000 | ||||||
|
|
|
|||||||
| 1,960,000 | ||||||||
| Arizona — 0.1% | ||||||||
|
Salt River Project Agricultural Improvement & Power District RB, Series A, 5.00%, 12/01/22 |
200 | 200,302 | ||||||
|
|
|
|||||||
|
Arkansas — 0.0% |
||||||||
|
University of Arkansas RB, Series A, 5.00%, 11/01/22 |
135 | 135,000 | ||||||
|
|
|
|||||||
|
California — 13.1% |
||||||||
|
Bay Area Toll Authority RB |
||||||||
|
VRDN, 1.80%, 04/01/53 (Put 11/07/22)(a) |
3,100 | 3,100,000 | ||||||
|
VRDN, 1.83%, 04/01/47 (Put 11/07/22)(a) |
3,800 | 3,800,000 | ||||||
|
California Educational Facilities Authority RB, VRDN, 1.85%, 10/01/36 (Put 11/07/22)(a) |
1,500 | 1,500,000 | ||||||
|
California Health Facilities Financing Authority RB, Series C, VRDN, 5.00%, 08/01/31 Put(a) |
355 | 355,000 | ||||||
|
California State Public Works Board RB |
||||||||
|
Series C, 5.00%, 11/01/22 |
135 | 135,000 | ||||||
|
Series G, 5.00%, 11/01/22 |
95 | 95,000 | ||||||
|
Series H, 5.00%, 12/01/22 |
860 | 861,261 | ||||||
|
California State University RB |
||||||||
|
4.00%, 11/01/29 (PR 11/01/22) |
1,750 | 1,750,000 | ||||||
|
5.00%, 11/01/22 |
1,005 | 1,005,000 | ||||||
|
Series A, 3.00%, 11/01/22 |
200 | 200,000 | ||||||
|
Series A, 5.00%, 11/01/22 |
1,710 | 1,710,000 | ||||||
|
Series C, 5.00%, 11/01/22 (AGM) |
30 | 30,000 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
|
4.00%, 11/01/22 |
50 | 50,000 | ||||||
|
5.00%, 11/01/22 |
295 | 295,000 | ||||||
|
Las Virgenes Unified School District GO, 0.00%, 11/01/22 (AGM)(b) |
55 | 55,000 | ||||||
|
Los Angeles County Public Works Financing Authority RB, Series D, 5.00%, 12/01/22 |
50 | 50,079 | ||||||
|
Los Angeles County Redevelopment Refunding Authority TA, Series C, 5.00%, 12/01/22 |
25 | 25,038 | ||||||
|
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/22 |
185 | 185,000 | ||||||
|
Orange County Water District COP, Series A, VRDN, 1.82%, 08/01/42 (Put 11/07/22)(a) |
10,450 | 10,450,000 | ||||||
|
Sacramento County Sanitation Districts Financing Authority RB |
||||||||
|
Series A, 5.00%, 12/01/22 |
325 | 325,490 | ||||||
|
Series A, 5.25%, 12/01/22 (NPFGC) |
145 | 145,247 | ||||||
|
San Diego County Regional Transportation Commission RB |
||||||||
|
VRDN, 1.85%, 04/01/38 (Put 11/07/22)(a) |
5,100 | 5,100,000 | ||||||
|
Series
B, VRDN, 1.82%, 04/01/38 |
4,000 | 4,000,000 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB, VRDN, 1.90%, 05/01/58 (Put 11/07/22)(a) |
4,585 | 4,585,000 | ||||||
|
San Rafael Redevelopment Agency TA, 0.00%, 12/01/22 (AMBAC)(b) |
75 | 74,792 | ||||||
|
Santa Clara County Financing Authority RB, Series A, 5.00%, 11/15/22 |
515 | 515,347 | ||||||
| Security | Par (000) |
Value | ||||||
|
California (continued) |
||||||||
|
State of California Department of Water Resources RB |
||||||||
|
Series AM, 5.00%, 12/01/22 |
$ | 430 | $ | 430,701 | ||||
|
Series AR, 5.00%, 12/01/22 |
65 | 65,106 | ||||||
|
Series AS, 5.00%, 12/01/22 |
75 | 75,122 | ||||||
|
Series AW, 5.00%, 12/01/22 |
505 | 505,824 | ||||||
|
Series AX, 5.00%, 12/01/22 |
1,100 | 1,101,794 | ||||||
|
Series BB, 5.00%, 12/01/22 |
215 | 215,351 | ||||||
|
State of California GO |
||||||||
|
2.00%, 11/01/22 |
5,450 | 5,450,000 | ||||||
|
4.00%, 12/01/22 |
645 | 645,482 | ||||||
|
5.00%, 11/01/22 |
410 | 410,000 | ||||||
|
5.00%, 12/01/22 |
2,495 | 2,498,844 | ||||||
|
University of California RB, Series AL-2, VRDN, 1.24%, 05/15/48 Put(a) |
2,000 | 2,000,000 | ||||||
|
|
|
|||||||
| 53,795,478 | ||||||||
|
Colorado — 3.6% |
||||||||
|
Adams & Arapahoe Joint School District 28J Aurora, 5.00%, 12/01/22 (SAW) |
1,550 | 1,552,248 | ||||||
|
City & County of Denver CO Airport System Revenue RB, Series B, 5.00%, 11/15/22 |
325 | 325,213 | ||||||
|
City of Colorado Springs CO Utilities System Revenue RB, Series A, 5.00%, 11/15/22 |
190 | 190,125 | ||||||
|
City of Colorado Springs Co. Utilities System Revenue RB |
||||||||
|
VRDN, 2.19%, 11/01/37 (Put 11/07/22)(a) |
7,650 | 7,650,000 | ||||||
|
VRDN, 2.19%, 11/01/41 (Put 11/07/22)(a) |
2,145 | 2,145,000 | ||||||
|
Denver City & County School District No. 1 GO |
||||||||
|
4.00%, 12/01/22 (SAW) |
100 | 100,075 | ||||||
|
Series B, 4.00%, 12/01/22 (SAW) |
275 | 275,208 | ||||||
|
Series B, 4.00%, 12/01/28 (PR 12/01/22) (SAW) |
1,100 | 1,100,750 | ||||||
|
Series B, 5.00%, 12/01/25 (PR 12/01/22) (SAW) |
225 | 225,337 | ||||||
|
Series B, 5.00%, 12/01/26 (PR 12/01/22) (SAW) |
480 | 480,720 | ||||||
|
Series B, 5.00%, 12/01/31 (PR 12/01/22) (SAW) |
465 | 465,697 | ||||||
|
Summit County School District No. Re-1 Summit GO, 5.00%, 12/01/22 (SAW) |
75 | 75,113 | ||||||
|
|
|
|||||||
| 14,585,486 | ||||||||
| Connecticut — 2.7% | ||||||||
|
Connecticut State Health & Educational Facilities Authority, VRDN, 2.00%, 07/01/42 (Put 11/07/22)(a) |
10,000 | 10,000,000 | ||||||
|
State of Connecticut GO |
||||||||
|
5.00%, 11/15/22 |
150 | 150,101 | ||||||
|
Series F, 4.00%, 11/15/22 |
675 | 675,215 | ||||||
|
Series F, 5.00%, 11/15/22 |
130 | 130,088 | ||||||
|
|
|
|||||||
| 10,955,404 | ||||||||
| Delaware — 0.9% | ||||||||
|
University of Delaware RB |
||||||||
|
Series A, 5.00%, 11/01/22 |
105 | 105,000 | ||||||
|
Series C, VRDN, 1.62%, 11/01/37 (Put 11/01/22)(a) |
3,700 | 3,700,000 | ||||||
|
|
|
|||||||
| 3,805,000 | ||||||||
| District of Columbia — 1.0% | ||||||||
|
District of Columbia RB |
||||||||
|
Series A, 4.00%, 12/01/22 |
195 | 195,139 | ||||||
|
Series A, 5.00%, 12/01/22 |
1,415 | 1,417,134 | ||||||
|
Series C, 4.00%, 12/01/22 |
150 | 150,107 | ||||||
|
Series C, 5.00%, 12/01/22 |
2,350 | 2,353,543 | ||||||
|
|
|
|||||||
| 4,115,923 | ||||||||
| Florida — 0.1% | ||||||||
|
County of Hillsborough FL Community Investment Tax Revenue RB, 5.00%, 11/01/22 |
160 | 160,000 | ||||||
| 20 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
|
County of Palm Beach FL RB |
||||||||
|
5.00%, 11/01/22 |
$ | 45 | $ | 45,000 | ||||
|
Series A, 5.00%, 11/01/22 |
50 | 50,000 | ||||||
|
School Board of Miami-Dade County (The) COP, Series D, 5.00%, 11/01/22 |
160 | 160,000 | ||||||
|
|
|
|||||||
| 415,000 | ||||||||
| Georgia — 1.0% | ||||||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
5.00%, 11/01/22 |
950 | 950,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
150 | 150,000 | ||||||
|
Municipal Electric Authority of Georgia RB, Series A, 5.00%, 11/01/22 |
135 | 135,000 | ||||||
|
State of Georgia GO |
||||||||
|
Series E, 5.00%, 12/01/22 |
1,985 | 1,988,156 | ||||||
|
Serise H, 5.00%, 12/01/22 |
650 | 651,033 | ||||||
|
|
|
|||||||
| 3,874,189 | ||||||||
| Hawaii — 1.7% | ||||||||
|
City & County of Honolulu HI GO |
||||||||
|
Series A, 5.00%, 11/01/22 (ETM) |
25 | 25,000 | ||||||
|
Series A, 5.00%, 11/01/25 (PR 11/01/22) |
2,000 | 2,000,000 | ||||||
|
Series A, 5.00%, 11/01/33 (PR 11/01/22) |
1,175 | 1,175,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
225 | 225,000 | ||||||
|
State of Hawaii GO |
||||||||
|
Series EE, 4.00%, 11/01/22 (ETM) |
35 | 35,000 | ||||||
|
Series EE, 5.00%, 11/01/23 (PR 11/01/22) |
580 | 580,000 | ||||||
|
Series EE, 5.00%, 11/01/27 (PR 11/01/22) |
115 | 115,000 | ||||||
|
Series EF, 5.00%, 11/01/22 |
320 | 320,000 | ||||||
|
Series EF, 5.00%, 11/01/24 (PR 11/01/22) |
2,430 | 2,430,000 | ||||||
|
|
|
|||||||
| 6,905,000 | ||||||||
| Illinois — 1.2% | ||||||||
|
Illinois State Toll Highway Authority RB, Series A, 5.00%, 12/01/22 |
3,645 | 3,650,345 | ||||||
|
State of Illinois GO |
||||||||
|
Series A, 5.00%, 12/01/22 |
500 | 500,424 | ||||||
|
Series D, 5.00%, 11/01/22 |
800 | 800,000 | ||||||
|
|
|
|||||||
| 4,950,769 | ||||||||
| Indiana — 0.1% | ||||||||
|
Indiana Finance Authority RB |
||||||||
|
Series A, 5.00%, 12/01/22 |
210 | 210,287 | ||||||
|
Serise A, 5.00%, 12/01/22 |
245 | 245,365 | ||||||
|
Indiana Transportation Finance Authority RB, Series B, 5.75%, 12/01/22 |
115 | 115,244 | ||||||
|
|
|
|||||||
| 570,896 | ||||||||
| Kentucky — 0.0% | ||||||||
|
Kentucky State Property & Building Commission RB, Series B, 5.00%, 11/01/22 |
100 | 100,000 | ||||||
|
|
|
|||||||
|
Louisiana — 0.0% |
||||||||
|
Louisiana Office Facilities Corp. RB, 5.00%, 11/01/22 |
110 | 110,000 | ||||||
|
|
|
|||||||
|
Maine — 0.2% |
||||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
Series A, 5.00%, 11/01/22 |
100 | 100,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
85 | 85,000 | ||||||
|
Series C, 5.00%, 11/01/22 |
320 | 320,000 | ||||||
|
Series D, 5.00%, 11/01/22 |
160 | 160,000 | ||||||
|
Series D, 5.00%, 11/01/22 (ETM) |
10 | 10,000 | ||||||
|
|
|
|||||||
| 675,000 | ||||||||
| Security | Par (000) |
Value | ||||||
|
Maryland — 6.5% |
||||||||
|
County of Montgomery MD GO |
||||||||
|
5.00%, 11/01/22 |
$ | 15,000 | $ | 15,000,000 | ||||
|
Series A, 5.00%, 11/01/22 |
110 | 110,000 | ||||||
|
Series A, 5.00%, 12/01/22 |
250 | 250,377 | ||||||
|
Series B, 5.00%, 12/01/22 |
120 | 120,181 | ||||||
|
Maryland Health & Higher Educational Facilities Authority RB, VRDN, 2.22%, 07/01/36 (Put 11/07/22)(a) |
10,200 | 10,200,000 | ||||||
|
Washington
Suburban Sanitary Commission RB, VRDN, 2.19%, 06/01/23 (Put
11/07/22) |
1,000 | 1,000,000 | ||||||
|
|
|
|||||||
| 26,680,558 | ||||||||
| Massachusetts — 6.5% | ||||||||
|
Boston Water & Sewer Commission RB, Series A, 4.25%, 11/01/22 |
440 | 440,000 | ||||||
|
City of Boston MA GO, Series A, 5.00%, 11/01/22 |
750 | 750,000 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
Series C, 5.50%, 12/01/22 (AMBAC) |
485 | 485,923 | ||||||
|
Series E, 5.00%, 11/01/22 |
510 | 510,000 | ||||||
|
Series F, 5.00%, 11/01/23 (PR 11/01/22) |
570 | 570,000 | ||||||
|
Series F, 5.00%, 11/01/25 (PR 11/01/22) |
150 | 150,000 | ||||||
|
Series F, 5.00%, 11/01/26 (PR 11/01/22) |
500 | 500,000 | ||||||
|
Series H, 5.00%, 12/01/22 |
1,215 | 1,216,832 | ||||||
|
Massachusetts Health & Educational Facilities Authority RB |
||||||||
|
Series
J-1, VRDN, 2.10%,
07/01/31 |
8,175 | 8,175,000 | ||||||
|
Series
J-2, VRDN, 2.12%,
07/01/31 |
4,000 | 4,000,000 | ||||||
|
Massachusetts Water Resources Authority, VRDN, 2.23%, 08/01/37 (Put 11/07/22)(a) |
2,520 | 2,520,000 | ||||||
|
University of Massachusetts Building Authority RB |
||||||||
|
Series 1, 5.00%, 11/01/22 |
50 | 50,000 | ||||||
|
Series 1, 5.00%, 11/01/39 (PR 11/01/22) |
6,900 | 6,900,000 | ||||||
|
Series 2, 5.00%, 11/01/22 |
405 | 405,000 | ||||||
|
|
|
|||||||
| 26,672,755 | ||||||||
| Michigan — 4.2% | ||||||||
|
Michigan State Hospital Finance Authority RB, Series 200, 4.00%, 11/01/22 |
250 | 250,000 | ||||||
|
State of Michigan GO |
||||||||
|
Series A, 5.00%, 12/01/22 |
470 | 470,708 | ||||||
|
Series B, 5.00%, 11/01/22 |
710 | 710,000 | ||||||
|
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/22 |
2,970 | 2,971,971 | ||||||
|
University of Michigan RB, VRDN, 2.19%, 04/01/36 (Put 11/07/22)(a) |
12,940 | 12,940,000 | ||||||
|
|
|
|||||||
| 17,342,679 | ||||||||
| Minnesota — 1.8% | ||||||||
|
City of Minneapolis MN GO |
||||||||
|
4.00%, 12/01/22 |
510 | 510,364 | ||||||
|
5.00%, 12/01/22 |
190 | 190,286 | ||||||
|
County of Hennepin MN, 5.00%, 12/01/22 |
3,500 | 3,505,852 | ||||||
|
County of Hennepin MN GO |
||||||||
|
5.00%, 12/01/22 |
395 | 395,661 | ||||||
|
Series A, 5.00%, 12/01/22 |
140 | 140,234 | ||||||
|
Series B, 5.00%, 12/01/22 |
105 | 105,176 | ||||||
|
Series C, 5.00%, 12/01/22 |
100 | 100,167 | ||||||
|
University of Minnesota RB, 5.00%, 12/01/22 |
2,570 | 2,573,832 | ||||||
|
|
|
|||||||
| 7,521,572 | ||||||||
| Mississippi — 1.0% | ||||||||
|
State of Mississippi GO |
||||||||
|
5.00%, 11/01/23 (PR 11/01/22) |
3,600 | 3,600,000 | ||||||
|
Series F, 4.00%, 11/01/22 |
260 | 260,000 | ||||||
|
Series H, 5.00%, 12/01/22 |
300 | 300,452 | ||||||
|
|
|
|||||||
| 4,160,452 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
21 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Missouri — 2.7% |
||||||||
|
Curators of the University of Missouri (The) RB, VRDN, 2.20%, 11/01/31 (Put 11/07/22)(a) |
$ | 10,525 | $ | 10,525,000 | ||||
|
Health & Educational Facilities Authority of the State of Missouri RB, Series A, 5.00%, 11/15/22 |
75 | 75,037 | ||||||
|
University of Missouri RB, Series A, 5.00%, 11/01/22 |
405 | 405,000 | ||||||
|
|
|
|||||||
| 11,005,037 | ||||||||
| Nebraska — 0.3% | ||||||||
|
City of Omaha NE GO, Series B, 5.00%, 11/15/22 |
695 | 695,456 | ||||||
|
City of Omaha NE Sewer Revenue RB, 5.00%, 11/15/22 |
115 | 115,077 | ||||||
|
Metropolitan Utilities District of Omaha Water System Revenue RB, 5.00%, 12/01/22 |
360 | 360,540 | ||||||
|
|
|
|||||||
| 1,171,073 | ||||||||
| Nevada — 1.5% | ||||||||
|
County of Clark Department of Aviation RB, VRDN, 2.37%, 07/01/40 (Put 11/07/22)(a) |
3,725 | 3,725,000 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 11/01/22 |
395 | 395,000 | ||||||
|
Series A, 5.00%, 11/01/22 |
400 | 400,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
450 | 450,000 | ||||||
|
County of Clark NV RB, 5.00%, 11/01/22 |
315 | 315,000 | ||||||
|
State of Nevada GOL, Series B, 5.00%, 11/01/22 |
80 | 80,000 | ||||||
|
State of Nevada Highway Improvement Revenue RB |
||||||||
|
4.00%, 12/01/22 |
550 | 550,393 | ||||||
|
5.00%, 12/01/22 |
120 | 120,181 | ||||||
|
|
|
|||||||
| 6,035,574 | ||||||||
| New Hampshire — 0.0% | ||||||||
|
State of New Hampshire GO, 5.00%, 12/01/22 |
170 | 170,258 | ||||||
|
|
|
|||||||
|
New Jersey — 0.4% |
||||||||
|
Monmouth County Improvement Authority (The) RB |
||||||||
|
4.00%, 12/01/22 (GTD) |
125 | 125,090 | ||||||
|
5.00%, 12/01/22 (GTD) |
775 | 776,168 | ||||||
|
New Jersey Economic Development Authority RB, Series B, 5.00%, 11/01/22 |
905 | 905,000 | ||||||
|
|
|
|||||||
| 1,806,258 | ||||||||
| New York — 15.6% | ||||||||
|
City of New York NY GO |
||||||||
|
VRDN, 2.20%, 03/01/39 (Put 11/07/22)(a) |
8,100 | 8,100,000 | ||||||
|
Series B-1, 5.00%, 12/01/22 |
660 | 660,995 | ||||||
|
Series F6, VRDN, 1.59%, 06/01/44 (Put 11/01/22)(a) |
500 | 500,000 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
Series A, 5.00%, 11/15/22 |
110 | 110,071 | ||||||
|
Series A-1, 5.00%, 11/15/22 |
230 | 230,134 | ||||||
|
Series A-2, 5.00%, 11/15/22 |
300 | 300,175 | ||||||
|
Series B, 5.00%, 11/15/22 |
700 | 700,409 | ||||||
|
Series B, 5.25%, 11/15/22 (AMBAC) |
35 | 35,027 | ||||||
|
Series B-2, 5.00%, 11/15/22 |
595 | 595,348 | ||||||
|
Series C, 5.00%, 11/15/22 |
290 | 290,169 | ||||||
|
Series C, 5.00%, 11/15/22 (ETM) |
20 | 20,013 | ||||||
|
Series D, 5.00%, 11/15/22 |
45 | 45,026 | ||||||
|
Series D-1, 5.00%, 11/01/22 |
680 | 680,000 | ||||||
|
Series E, 5.00%, 11/15/22 |
125 | 125,073 | ||||||
|
Series F, 5.00%, 11/15/22 |
515 | 515,301 | ||||||
|
Series H, 4.00%, 11/15/22 |
115 | 115,026 | ||||||
|
Series H, 4.00%, 11/15/22 (ETM) |
40 | 40,013 | ||||||
|
Nassau County Interim Finance Authority RB |
||||||||
|
4.00%, 11/15/22 |
5 | 5,002 | ||||||
|
4.00%, 11/15/22 (ETM) |
120 | 120,033 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
New York City Municipal Water Finance Authority, VRDN, 2.20%, 06/15/35 (Put 11/07/22)(a) |
$ | 5,000 | $ | 5,000,000 | ||||
|
New York City Municipal Water Finance Authority RB, VRDN, 2.20%, 06/15/51 (Put 11/07/22)(a) |
7,355 | 7,355,000 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
3.00%, 11/01/22 |
115 | 115,000 | ||||||
|
5.00%, 11/01/22 |
1,155 | 1,155,000 | ||||||
|
VRDN, 1.60%, 11/01/42 (Put 11/01/22)(a) |
8,100 | 8,100,000 | ||||||
|
Series A-1, 5.00%, 11/01/22 |
440 | 440,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
385 | 385,000 | ||||||
|
Series B-1, 5.00%, 11/01/22 |
110 | 110,000 | ||||||
|
Series C, 5.00%, 11/01/22 |
1,565 | 1,565,000 | ||||||
|
Series D, 5.00%, 11/01/22 |
205 | 205,000 | ||||||
|
Series
G-6, VRDN, 1.60%,
05/01/34 |
2,800 | 2,800,000 | ||||||
|
Serise C-1, 4.00%, 11/01/22 |
100 | 100,000 | ||||||
|
New York Convention Center Development Corp. RB, 5.00%, 11/15/22 |
205 | 205,127 | ||||||
|
New York Municipal Bond Bank Agency RB, 5.00%, 12/01/22 (SAW) |
65 | 65,098 | ||||||
|
New York Power Authority RB, Series A, 5.00%, 11/15/22 |
25 | 25,017 | ||||||
|
New York State Dormitory Authority RB, VRDN, 2.05%, 09/01/39 (Put 11/07/22)(a) |
8,925 | 8,925,000 | ||||||
|
New York State Environmental Facilities Corp. RB, Series B, 4.00%, 11/15/22 |
80 | 80,027 | ||||||
|
New York State Urban Development Corp., VRDN, 2.22%, 03/15/33 (Put 11/07/22)(a) |
12,000 | 12,000,000 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
4.00%, 12/01/22 |
100 | 100,065 | ||||||
|
Series 179, 5.00%, 12/01/22 |
275 | 275,397 | ||||||
|
Series 205, 5.00%, 11/15/22 |
200 | 200,129 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series A, 4.00%, 11/15/22 |
200 | 200,064 | ||||||
|
Series A, 5.00%, 11/15/22 |
460 | 460,269 | ||||||
|
Series B, 5.00%, 11/15/22 |
765 | 765,516 | ||||||
|
Series B-1, 5.00%, 11/15/22 |
235 | 235,158 | ||||||
|
|
|
|||||||
| 64,054,682 | ||||||||
| North Carolina — 0.5% | ||||||||
|
City of Charlotte NC GO, 5.00%, 12/01/22 |
270 | 270,407 | ||||||
|
County of Forsyth NC GO, 5.00%, 12/01/22 |
275 | 275,403 | ||||||
|
County of Mecklenburg NC, 5.00%, 12/01/22 |
1,000 | 1,001,549 | ||||||
|
County of Mecklenburg NC GO |
||||||||
|
5.25%, 12/01/22 |
100 | 100,175 | ||||||
|
Series B, 5.00%, 12/01/22 |
120 | 120,186 | ||||||
|
County of Wake NC RB, Series A, 5.00%, 12/01/22 |
330 | 330,497 | ||||||
|
|
|
|||||||
| 2,098,217 | ||||||||
| Ohio — 13.1% | ||||||||
|
City of Cincinnati OH GO, Series A, 4.00%, 12/01/22 |
50 | 50,036 | ||||||
|
City of Cincinnati OH Water System Revenue RB, Series B, 5.00%, 12/01/22 |
90 | 90,140 | ||||||
|
City of Columbus OH Sewerage Revenue RB, VRDN, 2.16%, 06/01/32 (Put 11/07/22)(a) |
10,000 | 10,000,000 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/22 |
1,995 | 1,997,942 | ||||||
|
Ohio Higher Educational Facility Commission RB |
||||||||
|
5.00%, 12/01/22 |
115 | 115,168 | ||||||
|
Series A, 5.00%, 12/01/22 |
60 | 60,086 | ||||||
|
Ohio State University (The), VRDN, 2.15%, 12/01/44 (Put 11/07/22)(a) |
5,600 | 5,600,000 | ||||||
| 22 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Ohio (continued) | ||||||||
|
Ohio State University (The) RB |
||||||||
|
5.00%, 12/01/22 |
$ | 315 | $ | 315,477 | ||||
|
VRDN, 2.15%, 12/01/39 (Put 11/07/22)(a) |
2,375 | 2,375,000 | ||||||
|
Series D, 5.00%, 12/01/22 |
1,065 | 1,066,614 | ||||||
|
Serise A, 5.00%, 12/01/22 |
625 | 625,947 | ||||||
|
Ohio University RB, 5.00%, 12/01/43 (PR 12/01/22) |
2,425 | 2,428,636 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 12/01/22 |
175 | 175,264 | ||||||
|
5.50%, 12/01/22 |
175 | 175,333 | ||||||
|
Series A, 5.00%, 12/01/22 |
120 | 120,181 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
|
5.00%, 12/01/22 |
12,820 | 12,839,327 | ||||||
|
VRDN, 2.20%, 12/01/36 (Put 11/07/22)(a) |
11,700 | 11,700,000 | ||||||
|
Series 2015-A, 5.00%, 12/01/22 |
230 | 230,347 | ||||||
|
Series B, 5.00%, 12/01/22 |
90 | 90,136 | ||||||
|
State of Ohio, VRDN, 2.24%, 03/15/24 (Put 11/07/22)(a) |
2,590 | 2,590,000 | ||||||
|
State of Ohio GO |
||||||||
|
Series B, 4.00%, 11/01/22 |
100 | 100,000 | ||||||
|
Series C, 5.00%, 11/01/22 |
100 | 100,000 | ||||||
|
Series T, 5.00%, 11/01/22 |
160 | 160,000 | ||||||
|
State of Ohio RB, Series A, 5.00%, 12/01/22 |
500 | 500,713 | ||||||
|
|
|
|||||||
| 53,506,347 | ||||||||
| Oregon — 0.2% | ||||||||
|
Clackamas County Service District No. 1 RB, 5.00%, 12/01/22 |
75 | 75,113 | ||||||
|
State of Oregon Department of Transportation RB, Series A, 5.00%, 11/15/22 |
635 | 635,435 | ||||||
|
State of Oregon GO, 4.00%, 11/01/22 |
175 | 175,000 | ||||||
|
|
|
|||||||
| 885,548 | ||||||||
| Pennsylvania — 3.6% | ||||||||
|
Pennsylvania Higher Educational Facilities Authority RB, Series A, 4.00%, 12/01/22 |
110 | 110,070 | ||||||
|
Pennsylvania Turnpike Commission, VRDN, 2.40%, 12/01/39 (Put 11/07/22)(a) |
10,300 | 10,300,000 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
5.00%, 12/01/22 |
1,800 | 1,802,477 | ||||||
|
Series A, 5.00%, 12/01/37 (PR 12/01/22) |
2,000 | 2,002,999 | ||||||
|
Series A-1, 5.00%, 12/01/22 |
415 | 415,571 | ||||||
|
Series B, 5.00%, 12/01/22 |
120 | 120,165 | ||||||
|
|
|
|||||||
| 14,751,282 | ||||||||
| Rhode Island — 0.5% | ||||||||
|
Rhode
Island Health & Educational Building Corp., VRDN, 2.22%,
05/01/35 |
2,035 | 2,035,000 | ||||||
|
|
|
|||||||
|
South Carolina — 2.4% |
||||||||
|
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/22 |
300 | 300,445 | ||||||
|
County of Charleston SC GO, 5.00%, 11/01/22 |
2,200 | 2,200,000 | ||||||
|
Greenville County School District RB, 5.00%, 12/01/22 |
180 | 180,271 | ||||||
|
SCAGO Educational Facilities Corp. for Pickens School District RB, 5.00%, 12/01/22 |
70 | 70,088 | ||||||
|
South Carolina Jobs-Economic Development Authority RB, 5.00%, 11/01/29 (PR 11/01/22) |
7,000 | 7,000,000 | ||||||
|
South Carolina Public Service Authority RB, Series A, 5.00%, 12/01/22 |
195 | 195,230 | ||||||
|
|
|
|||||||
| 9,946,034 | ||||||||
| Security | Par (000) |
Value | ||||||
|
Tennessee — 0.5% |
||||||||
|
City of Memphis TN Electric System Revenue, 5.00%, 12/01/22 |
$ | 100 | $ | 100,146 | ||||
|
City of Memphis TN Electric System Revenue RB, 4.00%, 12/01/22 |
135 | 135,090 | ||||||
|
City of Memphis TN GO, 5.00%, 12/01/22 |
1,000 | 1,001,458 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
5.00%, 11/01/22 |
175 | 175,000 | ||||||
|
Series A, 5.00%, 11/01/22 |
360 | 360,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
165 | 165,000 | ||||||
|
|
|
|||||||
| 1,936,694 | ||||||||
| Texas — 6.7% | ||||||||
|
Board of Regents of the University of Texas System RB, VRDN, 2.15%, 08/01/25 (Put 11/07/22)(a) |
12,000 | 12,000,000 | ||||||
|
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/22 |
715 | 715,429 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB |
||||||||
|
5.00%, 11/15/22 |
270 | 270,176 | ||||||
|
Series A, 5.00%, 11/15/22 |
725 | 725,497 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
Series B, 5.00%, 11/15/22 |
370 | 370,241 | ||||||
|
Series D, 5.00%, 11/15/22 |
125 | 125,082 | ||||||
|
Dallas Area Rapid Transit RB |
||||||||
|
Series A, 5.00%, 12/01/22 |
460 | 460,690 | ||||||
|
Series B, 4.00%, 12/01/22 |
150 | 150,106 | ||||||
|
Series B, 5.00%, 12/01/22 |
1,420 | 1,422,129 | ||||||
|
Dallas Fort Worth International Airport |
||||||||
|
5.00%, 11/01/22 |
60 | 60,000 | ||||||
|
5.00%, 11/01/22 (ETM) |
95 | 95,000 | ||||||
|
Dallas/Fort Worth International Airport RB |
||||||||
|
Series C, 5.00%, 11/01/22 |
360 | 360,000 | ||||||
|
Series F, 5.00%, 11/01/22 |
295 | 295,000 | ||||||
|
Series G, 5.00%, 11/01/22 |
25 | 25,000 | ||||||
|
Harris County Cultural Education Facilities Finance Corp. RB, 5.00%, 11/15/22 |
25 | 25,014 | ||||||
|
Metropolitan Transit Authority of Harris County RB |
||||||||
|
5.00%, 11/01/22 |
120 | 120,000 | ||||||
|
Series B, 5.00%, 11/01/22 |
120 | 120,000 | ||||||
|
State of Texas GO, VRDN, 2.24%, 04/01/36 (Put 11/07/22)(a) |
10,000 | 10,000,000 | ||||||
|
Tarrant County Cultural Education Facilities Finance Corp. RB, 5.00%, 12/01/22 |
45 | 45,057 | ||||||
|
|
|
|||||||
| 27,384,421 | ||||||||
| Utah — 0.1% | ||||||||
|
County of Utah UT Transportation Sales Tax Revenue RB, 5.00%, 12/01/22 |
220 | 220,328 | ||||||
|
|
|
|||||||
|
Vermont — 0.1% |
||||||||
|
Vermont Municipal Bond Bank RB |
||||||||
|
Series 1, 5.00%, 12/01/22 |
325 | 325,477 | ||||||
|
Series 5, 5.00%, 12/01/22 |
60 | 60,088 | ||||||
|
|
|
|||||||
| 385,565 | ||||||||
| Virginia — 1.6% | ||||||||
|
City of Norfolk VA Water Revenue RB, 5.00%, 11/01/22 |
2,000 | 2,000,000 | ||||||
|
County of Loudoun VA GO, Series A, 5.00%, 12/01/22 (SAW) |
75 | 75,119 | ||||||
|
Virginia Beach Development Authority RB, Series B, 5.00%, 12/01/22 |
45 | 45,067 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
4.00%, 11/01/41 (PR 11/01/22) |
2,000 | 2,000,000 | ||||||
|
5.00%, 11/01/22 |
620 | 620,000 | ||||||
|
5.00%, 11/01/22 (ETM) |
50 | 50,000 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
23 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Virginia (continued) | ||||||||
|
Series A, 5.00%, 11/01/22 |
$ | 1,405 | $ | 1,405,000 | ||||
|
Serise S, 5.00%, 11/01/22 |
165 | 165,000 | ||||||
|
|
|
|||||||
| 6,360,186 | ||||||||
| Washington — 3.8% | ||||||||
|
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/22 |
170 | 170,000 | ||||||
|
City of Seattle WA GOL, Series A, 5.00%, 12/01/22 |
100 | 100,151 | ||||||
|
City of Vancouver WA GOL, Series B, 5.00%, 12/01/22 |
330 | 330,498 | ||||||
|
Clark County School District No. 119 Battleground GO, 4.00%, 12/01/22 (GTD) |
155 | 155,113 | ||||||
|
County of King WA GO, 5.00%, 12/01/22 |
600 | 600,905 | ||||||
|
County of King WA GOL |
||||||||
|
4.00%, 12/01/22 |
20 | 20,014 | ||||||
|
Series C, 5.00%, 12/01/22 |
210 | 210,317 | ||||||
|
Series E, 5.00%, 12/01/22 |
1,235 | 1,236,862 | ||||||
|
County of Snohomish WA, 5.00%, 12/01/22 |
3,300 | 3,304,975 | ||||||
|
County of Snohomish WA GOL, 5.00%, 12/01/22 |
140 | 140,211 | ||||||
|
County of Spokane WA, 5.00%, 12/01/22 |
1,025 | 1,026,562 | ||||||
|
King & Snohomish Counties School District No. 417 Northshore GO |
||||||||
|
5.00%, 12/01/22 |
225 | 225,330 | ||||||
|
5.00%, 12/01/22 (GTD) |
565 | 565,829 | ||||||
|
King County Rural Library District GO, 4.00%, 12/01/22 |
355 | 355,245 | ||||||
|
King County School District No 405 Bellevue GO, 5.00%, 12/01/22 |
100 | 100,153 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/22 (GTD) |
455 | 455,697 | ||||||
|
King County School District No. 409 Tahoma GO, 5.00%, 12/01/22 (GTD) |
220 | 220,324 | ||||||
|
King County School District No. 414 Lake Washington GO, 5.00%, 12/01/22 (GTD) |
1,145 | 1,146,717 | ||||||
|
North Thurston Public Schools, 4.00%, 12/01/22 |
1,000 | 1,000,714 | ||||||
|
Pierce County School District No. 10 Tacoma GO, 5.00%, 12/01/22 (GTD) |
845 | 846,239 | ||||||
|
Port of Seattle WA RB, 5.00%, 12/01/22 |
1,125 | 1,126,511 | ||||||
|
Port of Tacoma WA RB, Series A, 5.00%, 12/01/22 |
135 | 135,192 | ||||||
|
Snohomish County Public Utility District No. 1 Electric System Revenue, 5.00%, 12/01/22 |
190 | 190,286 | ||||||
|
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/22 (GTD) |
230 | 230,337 | ||||||
|
Spokane County School District No. 81 Spokane GO, 5.00%, 12/01/22 (GTD) |
250 | 250,369 | ||||||
|
State of Washington GO, Series F, 0.00%, 12/01/22 (NPFGC)(b) |
65 | 64,828 | ||||||
|
University of Washington RB |
||||||||
|
Series A, 5.00%, 12/01/22 |
75 | 75,112 | ||||||
| Security | Par (000) |
Value | ||||||
| Washington (continued) | ||||||||
|
Series C, 5.00%, 12/01/22 |
$ | 720 | $ | 721,074 | ||||
|
Washington Health Care Facilities Authority RB, Series A, 5.00%, 11/15/22 |
125 | 125,075 | ||||||
|
Yakima County School District No. 7 Yakima GO, 5.00%, 12/01/22 (GTD) |
200 | 200,293 | ||||||
|
Yakima County School District No. 90 East Valley GO, 5.00%, 12/01/22 (GTD) |
130 | 130,187 | ||||||
|
|
|
|||||||
| 15,461,120 | ||||||||
| West Virginia — 1.0% | ||||||||
|
State of West Virginia, 5.00%, 12/01/22 |
3,610 | 3,616,036 | ||||||
|
State of West Virginia GO, Series A, 5.00%, 11/01/22 |
575 | 575,000 | ||||||
|
|
|
|||||||
| 4,191,036 | ||||||||
| Wisconsin — 0.6% | ||||||||
|
State of Wisconsin GO |
||||||||
|
5.00%, 11/01/22 |
205 | 205,000 | ||||||
|
Series 1, 5.00%, 11/01/22 |
125 | 125,000 | ||||||
|
Series 2, 4.00%, 11/01/22 |
140 | 140,000 | ||||||
|
Series 2, 5.00%, 11/01/22 |
955 | 955,000 | ||||||
|
Series 3, 4.00%, 11/01/22 |
125 | 125,000 | ||||||
|
Series 3, 5.00%, 11/01/22 |
685 | 685,000 | ||||||
|
Wisconsin Health & Educational Facilities Authority RB, Series E, 4.00%, 11/15/22 |
125 | 125,032 | ||||||
|
|
|
|||||||
| 2,360,032 | ||||||||
|
|
|
|||||||
|
Total Long-Term Investments — 101.4% (Cost: $415,406,346) |
415,296,155 | |||||||
|
|
|
|||||||
| Short-Term Securities | ||||||||
|
Money Market Funds — 1.2% |
||||||||
|
BlackRock
Liquidity Funds: MuniCash, |
4,842 | 4,841,340 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 1.2% |
4,841,340 | |||||||
|
|
|
|||||||
|
Total
Investments — 102.6% |
420,137,495 | |||||||
|
Liabilities in Excess of Other Assets — (2.6)% |
|
(10,626,221 | ) | |||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 409,511,274 | ||||||
|
|
|
|||||||
| (a) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
| (b) |
Zero-coupon bond. |
| (c) |
Affiliate of the Fund. |
| (d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 346,035 | $ | 4,490,415 | (a) | $ | — | $ | 4,908 | $ | (18 | ) | $ | 4,841,340 | 4,842 | $ | 63,710 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
| 24 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2022 Term Muni Bond ETF |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 415,296,155 | $ | — | $ | 415,296,155 | ||||||||
|
Money Market Funds |
4,841,340 | — | — | 4,841,340 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 4,841,340 | $ | 415,296,155 | $ | — | $ | 420,137,495 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
|
S C H E D U L E O F I N V E S T M E N T S |
25 |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
|
Alabama — 1.0% |
||||||||
|
Alabama Federal Aid Highway Finance Authority RB |
||||||||
|
5.00%, 09/01/23 |
$ | 300 | $ | 304,199 | ||||
|
Series A, 5.00%, 09/01/23 |
325 | 329,816 | ||||||
|
Series B, 5.00%, 09/01/23 |
540 | 548,003 | ||||||
|
Alabama Public School & College Authority RB |
||||||||
|
Series C, 5.00%, 06/01/23 |
100 | 101,054 | ||||||
|
Series A, 3.00%, 06/01/23 |
335 | 334,567 | ||||||
|
Series A, 5.00%, 02/01/23 |
505 | 507,285 | ||||||
|
Alabama Public School and College Authority RB |
||||||||
|
Series A, 5.00%, 11/01/23 |
170 | 172,978 | ||||||
|
Series B, 5.00%, 01/01/23 |
290 | 290,872 | ||||||
|
City of Huntsville AL GOL |
||||||||
|
Series C, 5.00%, 05/01/23 |
130 | 131,170 | ||||||
|
Series D, 5.00%, 05/01/23 |
115 | 116,035 | ||||||
|
State of Alabama GO |
||||||||
|
Series A, 5.00%, 08/01/23 |
255 | 258,519 | ||||||
|
Series A, 5.00%, 11/01/23 |
400 | 407,245 | ||||||
|
Series C, 5.00%, 08/01/23 |
170 | 172,346 | ||||||
|
Series C, 5.00%, 11/01/23 |
290 | 295,253 | ||||||
|
University of Alabama (The) RB, Series B, 5.00%, 07/01/23 |
255 | 258,046 | ||||||
|
University of Alabama at Birmingham RB |
||||||||
|
5.00%, 10/01/23 |
700 | 710,198 | ||||||
|
Series A, 5.00%, 10/01/23 |
135 | 136,967 | ||||||
|
|
|
|||||||
| 5,074,553 | ||||||||
| Alaska — 0.1% | ||||||||
|
Municipality of Anchorage AK GO, Series D, 5.00%, 09/01/23 |
165 | 167,309 | ||||||
|
State of Alaska GO, Series B, 5.00%, 08/01/23 |
100 | 101,358 | ||||||
|
|
|
|||||||
| 268,667 | ||||||||
| Arizona — 2.8% | ||||||||
|
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/23 |
460 | 465,616 | ||||||
|
Arizona Health Facilities Authority RB, Series A, 5.00%, 01/01/23 |
35 | 35,099 | ||||||
|
Arizona School Facilities Board COP, Series A, 5.00%, 09/01/23 |
365 | 370,409 | ||||||
|
Arizona State University RB |
||||||||
|
5.00%, 08/01/23 |
150 | 151,970 | ||||||
|
Series B, 5.00%, 07/01/23 |
220 | 222,613 | ||||||
|
Series C, 5.00%, 07/01/23 |
295 | 298,504 | ||||||
|
Arizona Transportation Board RB |
||||||||
|
5.00%, 07/01/23 |
2,105 | 2,130,702 | ||||||
|
Series A, 5.00%, 07/01/23 |
100 | 101,221 | ||||||
|
Arizona Water Infrastructure Finance Authority RB, Series A, 5.00%, 10/01/23 |
170 | 172,784 | ||||||
|
City of Mesa AZ Utility System Revenue RB, 5.00%, 07/01/23 |
35 | 35,416 | ||||||
|
City of Phoenix AZ GO, 5.00%, 07/01/23 |
120 | 121,449 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/23 |
735 | 743,707 | ||||||
|
5.50%, 07/01/23 (NPFGC) |
85 | 86,298 | ||||||
|
Series A, 5.00%, 07/01/23 |
575 | 581,832 | ||||||
|
Series B, 5.00%, 07/01/23 |
640 | 647,651 | ||||||
|
Series D, 5.00%, 07/01/23 |
505 | 510,666 | ||||||
|
SeriesB, 5.00%, 07/01/23 |
140 | 141,682 | ||||||
|
City of Scottsdale AZ GO, 5.00%, 07/01/23 |
120 | 121,433 | ||||||
|
City of Tucson AZ Water System Revenue RB, Series A, 5.00%, 07/01/23 |
420 | 424,962 | ||||||
|
County of Pima AZ GOL, 4.00%, 07/01/23 |
310 | 311,705 | ||||||
| Security | Par (000) |
Value | ||||||
| Arizona (continued) | ||||||||
|
County of Pima Sewer System Revenue |
||||||||
|
5.00%, 07/01/23 |
$ | 405 | $ | 409,865 | ||||
|
5.00%, 07/01/23 (ETM) |
175 | 176,871 | ||||||
|
Maricopa County Community College District GO, 5.00%, 07/01/23 |
2,200 | 2,225,990 | ||||||
|
Maricopa County Unified School District No. 48 Scottsdale GO, 5.00%, 07/01/23 |
75 | 75,906 | ||||||
|
Maricopa County Unified School District No. 80 Chandler GOL, 4.50%, 07/01/23 |
40 | 40,342 | ||||||
|
Maricopa County Union High School District No. 210-Phoenix GO |
||||||||
|
5.00%, 07/01/23 |
330 | 333,986 | ||||||
|
Series B, 5.00%, 07/01/23 |
175 | 177,114 | ||||||
|
Phoenix AZ, 4.00%, 07/01/23 |
685 | 688,744 | ||||||
|
Regional Public Transportation Authority RB, 5.25%, 07/01/23 |
135 | 136,814 | ||||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/23 |
365 | 366,116 | ||||||
|
Series A, 5.00%, 01/01/23 |
610 | 611,865 | ||||||
|
State of Arizona |
||||||||
|
5.00%, 09/01/23 |
75 | 76,056 | ||||||
|
5.00%, 09/01/23 (ETM) |
185 | 187,589 | ||||||
|
University of Arizona (The) RB |
||||||||
|
5.00%, 06/01/23 |
215 | 217,290 | ||||||
|
5.00%, 08/01/23 |
55 | 55,722 | ||||||
|
|
|
|||||||
| 13,455,989 | ||||||||
| Arkansas — 0.3% | ||||||||
|
State of Arkansas GO |
||||||||
|
4.25%, 06/01/23 |
80 | 80,514 | ||||||
|
5.00%, 04/01/23 |
315 | 317,428 | ||||||
|
5.00%, 10/01/23 |
925 | 940,151 | ||||||
|
University of Arkansas RB, Series A, 5.00%, 11/01/23 |
105 | 106,859 | ||||||
|
|
|
|||||||
| 1,444,952 | ||||||||
| California — 11.4% | ||||||||
|
Alameda Unified School District-Alameda County/CA GO, Series A, 0.00%, 08/01/23 (AGM)(a) |
50 | 48,724 | ||||||
|
Anaheim Housing & Public Improvements Authority RB, Series A, 5.00%, 10/01/23 |
175 | 177,946 | ||||||
|
Bay Area Toll Authority, 5.00%, 04/01/28 (PR 04/01/23) |
250 | 252,041 | ||||||
|
Bay Area Toll Authority RB |
||||||||
|
5.00%, 04/01/23 |
100 | 100,754 | ||||||
|
Series S-4, 5.00%, 04/01/43 (PR 04/01/23) |
100 | 100,816 | ||||||
|
Series S-4, 5.25%, 04/01/53 (PR 04/01/23) |
135 | 136,240 | ||||||
|
Benicia Unified School District GO, Series B, 0.00%, 08/01/23 (NPFGC)(a) |
80 | 77,929 | ||||||
|
California Educational Facilities Authority RB, Series T-5, 5.00%, 03/15/23 |
590 | 594,057 | ||||||
|
California Health Facilities Financing Authority RB |
||||||||
|
5.00%, 11/15/23 |
25 | 25,462 | ||||||
|
Series A, 4.00%, 03/01/23 |
70 | 70,122 | ||||||
|
Series A, 5.00%, 11/15/23 |
15 | 15,287 | ||||||
|
Series B, 5.00%, 11/15/23 |
110 | 111,784 | ||||||
|
California Infrastructure & Economic Development Bank RB, |
||||||||
|
Series A, 5.00%, 10/01/23 |
185 | 188,131 | ||||||
|
California State Public Works Board RB |
||||||||
|
5.00%, 09/01/23 |
200 | 202,915 | ||||||
|
Series A, 5.00%, 03/01/23 |
170 | 171,017 | ||||||
|
Series A, 5.00%, 09/01/23 |
175 | 177,550 | ||||||
|
Series A, 5.25%, 06/01/23 (ETM NPFGC) |
15 | 15,187 | ||||||
| 26 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Series B, 5.00%, 10/01/23 |
$ | 665 | $ | 675,591 | ||||
|
Series C, 5.00%, 11/01/23 |
65 | 66,126 | ||||||
|
Series D, 5.00%, 09/01/23 |
600 | 608,744 | ||||||
|
Series F, 5.00%, 05/01/23 |
940 | 948,459 | ||||||
|
Series F, 5.00%, 09/01/23 |
255 | 258,716 | ||||||
|
Series G, 5.00%, 09/01/23 |
20 | 20,291 | ||||||
|
Series H, 5.00%, 06/01/23 |
195 | 197,032 | ||||||
|
Series H, 5.00%, 12/01/23 |
125 | 127,335 | ||||||
|
Series I, 5.00%, 11/01/23 |
545 | 554,441 | ||||||
|
California State University RB |
||||||||
|
5.00%, 11/01/23 |
170 | 173,180 | ||||||
|
Series A, 5.00%, 11/01/23 |
1,085 | 1,105,296 | ||||||
|
Series C, 5.00%, 11/01/23 (AGM) |
120 | 122,245 | ||||||
|
Chabot-Las Positas Community College District GO, 4.00%, 08/01/23 |
210 | 211,392 | ||||||
|
City of Los Angeles CA GO, 5.00%, 09/01/23 |
350 | 355,245 | ||||||
|
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
|
Series B, 4.00%, 06/01/23 |
100 | 100,501 | ||||||
|
Series B, 5.00%, 06/01/23 |
125 | 126,339 | ||||||
|
City of Los Angeles Department of Airports, 5.00%, 05/15/23 |
2,000 | 2,019,648 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
|
5.00%, 11/01/23 |
745 | 758,567 | ||||||
|
Series B, 5.00%, 11/01/23 |
100 | 101,821 | ||||||
|
Coast Community College District GO |
||||||||
|
5.00%, 08/01/26 (PR 08/01/23) |
1,200 | 1,216,828 | ||||||
|
Series A, 5.00%, 08/01/23 |
100 | 101,336 | ||||||
|
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/23 |
320 | 322,053 | ||||||
|
Contra Costa Water District RB, Series T, 5.00%, 10/01/23 |
230 | 233,746 | ||||||
|
East Bay Municipal Utility District Water System Revenue RB, Series B, 5.00%, 06/01/23 |
185 | 186,982 | ||||||
|
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/23 |
50 | 50,607 | ||||||
|
Escondido Union High School District GO, Series A, 0.00%, 08/01/23 (AGC)(a) |
150 | 146,117 | ||||||
|
Folsom Cordova Unified School District School Facilities Improvement Dist No. 4 GO, Series A, 0.00%, 10/01/23 (NPFGC)(a) |
195 | 188,804 | ||||||
|
Foothill-De Anza Community College District GO, 5.00%, 08/01/23 |
140 | 141,880 | ||||||
|
Grossmont Union High School District GO, 4.00%, 08/01/23 |
125 | 125,865 | ||||||
|
Huntington Beach Union High School District GO, 5.00%, 08/01/23 |
135 | 136,883 | ||||||
|
Irvine Ranch Water District SA, 5.00%, 02/01/23 |
30 | 30,132 | ||||||
|
Laguna Beach Unified School District GO, 4.00%, 08/01/23 |
155 | 155,970 | ||||||
|
Las Virgenes Unified School District GO |
||||||||
|
Series C, 0.00%, 11/01/23 (NPFGC)(a) |
50 | 48,266 | ||||||
|
Series D, 0.00%, 09/01/23 (NPFGC)(a) |
105 | 101,974 | ||||||
|
Long Beach Community College District GO |
||||||||
|
5.00%, 08/01/23 |
115 | 116,604 | ||||||
|
Series D, 0.00%, 05/01/23 (NPFGC)(a) |
165 | 162,296 | ||||||
|
Los Angeles Community College District/CA GO |
||||||||
|
Series A, 5.00%, 08/01/23 |
450 | 456,578 | ||||||
|
Series C, 5.00%, 08/01/23 |
535 | 542,821 | ||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 07/01/23 |
125 | 126,567 | ||||||
|
Series A, 5.00%, 06/01/23 |
585 | 591,467 | ||||||
|
Series A, 5.00%, 07/01/23 |
1,470 | 1,488,433 | ||||||
|
Series C, 5.00%, 07/01/23 |
185 | 187,320 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Los Angeles County Sanitation Districts Financing Authority RB, 5.00%, 10/01/23 |
$ | 410 | $ | 416,715 | ||||
|
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/23 |
135 | 136,702 | ||||||
|
Los Angeles Department of Water & Power System Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
250 | 253,151 | ||||||
|
Series A, 5.00%, 07/01/23 |
445 | 450,669 | ||||||
|
Series B, 4.00%, 07/01/23 |
150 | 150,914 | ||||||
|
Series B, 5.00%, 07/01/23 |
165 | 167,080 | ||||||
|
Series D, 4.00%, 07/01/23 |
205 | 206,249 | ||||||
|
Series E, 5.00%, 07/01/23 |
165 | 167,080 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
Series A, 4.00%, 07/01/23 |
595 | 598,820 | ||||||
|
Series A, 5.00%, 07/01/23 |
2,085 | 2,111,973 | ||||||
|
Series B-1, 5.00%, 07/01/23 |
1,000 | 1,012,937 | ||||||
|
Series C, 5.00%, 07/01/23 |
185 | 187,393 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
5.00%, 07/01/23 |
995 | 1,007,280 | ||||||
|
Series A, 5.00%, 07/01/23 |
150 | 151,851 | ||||||
|
Series B, 5.00%, 09/01/23 |
75 | 76,142 | ||||||
|
Series E, 5.00%, 07/01/23 |
2,500 | 2,532,507 | ||||||
|
Modesto Irrigation District RB, 5.00%, 10/01/23 |
220 | 223,364 | ||||||
|
Mount Diablo Unified School District/CA GO, Series F, 5.00%, 08/01/23 |
20 | 20,272 | ||||||
|
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/23 |
475 | 483,651 | ||||||
|
Newport Mesa Unified School District GO, Series 2007, 0.00%, 08/01/23 (NPFGC)(a) |
50 | 48,763 | ||||||
|
Northern California Power Agency RB, 5.00%, 08/01/23 |
75 | 76,018 | ||||||
|
Orange County Water District RB, 5.00%, 08/15/23 |
375 | 380,572 | ||||||
|
Palomar Community College District GO, Series B, 0.00%, 08/01/23(a) |
200 | 194,838 | ||||||
|
Rancho Santiago Community College District GO, 4.00%, 09/01/23 |
50 | 50,343 | ||||||
|
Riverside County Transportation Commission RB, Series A, 5.00%, 06/01/23 |
1,010 | 1,020,817 | ||||||
|
Sacramento Municipal Utility District RB |
||||||||
|
5.00%, 08/15/23 |
250 | 253,735 | ||||||
|
Series D, 5.00%, 08/15/23 |
125 | 126,867 | ||||||
|
San Diego Community College District GO |
||||||||
|
0.00%, 08/01/23(a) |
35 | 34,139 | ||||||
|
5.00%, 08/01/23 |
125 | 126,697 | ||||||
|
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/23 |
75 | 75,594 | ||||||
|
San Diego County Water Authority RB, 5.00%, 05/01/23 |
100 | 100,949 | ||||||
|
San Diego Public Facilities Financing Authority RB, 5.00%, 10/15/23 |
65 | 66,078 | ||||||
|
San Diego Unified School District/CA GO |
||||||||
|
5.00%, 07/01/23 |
335 | 339,312 | ||||||
|
Series A, 0.00%, 07/01/23 (NPFGC)(a) |
150 | 146,784 | ||||||
|
Series H-2, 3.00%, 07/01/23 |
200 | 199,957 | ||||||
|
Series H-2, 5.00%, 07/01/23 |
350 | 354,505 | ||||||
|
Series J-2, 5.00%, 07/01/23 |
135 | 136,737 | ||||||
|
San Diego Unified School District/CA RB, Series N-2, 5.00%, 07/01/23 |
225 | 227,896 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB, Series D, 5.00%, 05/01/23 |
135 | 136,255 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
27 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
San Jose Evergreen Community College District GO |
||||||||
|
5.00%, 09/01/23 |
$ | 180 | $ | 182,697 | ||||
|
Series A, 5.00%, 09/01/23 |
285 | 289,271 | ||||||
|
San Jose Financing Authority RB, Series A, 5.00%, 06/01/23 |
25 | 25,269 | ||||||
|
San Mateo County Community College District GO, Series A, 0.00%, 09/01/23 (NPFGC)(a) |
160 | 155,859 | ||||||
|
San Mateo Joint Powers Financing Authority RB, Series A, 5.00%, 07/15/23 |
180 | 182,243 | ||||||
|
San Mateo Union High School District GO |
||||||||
|
Series A, 4.00%, 09/01/23 |
140 | 140,960 | ||||||
|
Series A, 5.00%, 09/01/23 |
125 | 126,873 | ||||||
|
Series B, 0.00%, 09/01/23 (NPFGC)(a) |
160 | 155,350 | ||||||
|
San Ramon Valley Unified School District/CA GO, 5.00%, 08/01/23 |
500 | 506,789 | ||||||
|
Santa Clara County Financing Authority RB, Series Q, 5.00%, 05/15/23 |
105 | 106,043 | ||||||
|
Santa Clara Unified School District GO, 5.00%, 07/01/23 |
850 | 860,603 | ||||||
|
Santa Monica Community College District GO, Series A, 5.00%, 08/01/23 |
290 | 294,153 | ||||||
|
Santa Monica-Malibu Unified School District GO |
||||||||
|
0.00%, 08/01/23 (NPFGC)(a) |
100 | 97,412 | ||||||
|
Series B, 4.00%, 08/01/23 |
200 | 201,370 | ||||||
|
Southern California Public Power Authority RB, Series A, 5.00%, 07/01/23 |
390 | 394,942 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
5.00%, 12/01/23 |
125 | 127,549 | ||||||
|
5.00%, 12/01/24 (PR 06/01/23) |
1,000 | 1,011,056 | ||||||
|
Series AS, 5.00%, 12/01/23 |
370 | 377,545 | ||||||
|
Series AW, 5.00%, 12/01/23 |
215 | 219,384 | ||||||
|
Series AX, 5.00%, 12/01/23 |
415 | 423,463 | ||||||
|
Series BA, 5.00%, 12/01/23 |
235 | 239,792 | ||||||
|
State of California GO |
||||||||
|
4.00%, 03/01/23 |
75 | 75,227 | ||||||
|
4.00%, 05/01/23 |
230 | 231,046 | ||||||
|
4.00%, 10/01/23 |
315 | 317,459 | ||||||
|
5.00%, 02/01/23 |
100 | 100,470 | ||||||
|
5.00%, 08/01/23 |
2,015 | 2,042,958 | ||||||
|
5.00%, 09/01/23 |
2,630 | 2,670,278 | ||||||
|
5.00%, 10/01/23 |
1,030 | 1,047,244 | ||||||
|
5.00%, 11/01/23 |
1,820 | 1,853,145 | ||||||
|
5.00%, 12/01/23 |
945 | 963,561 | ||||||
|
Series B, 5.00%, 08/01/23 |
715 | 724,921 | ||||||
|
Series B, 5.00%, 09/01/23 |
660 | 670,108 | ||||||
|
Torrance Unified School District GO |
||||||||
|
5.00%, 08/01/23 |
115 | 116,561 | ||||||
|
5.00%, 08/01/39 (PR 08/01/23) |
230 | 233,225 | ||||||
|
University of California RB |
||||||||
|
Series AF, 5.00%, 05/15/23 |
335 | 338,362 | ||||||
|
Series AK, VRDN, 5.00%, 05/15/48(b) |
4,825 | 4,872,400 | ||||||
|
Series AO, 5.00%, 05/15/23 |
495 | 499,968 | ||||||
|
Series AR, 4.00%, 05/15/23 |
210 | 211,000 | ||||||
|
West Valley-Mission Community College District GO, 5.00%, 08/01/23 |
500 | 506,789 | ||||||
|
|
|
|||||||
| 55,901,411 | ||||||||
| Colorado — 1.1% | ||||||||
|
Adams County School District No. 1 GO, 4.00%, 12/01/23 (SAW) |
250 | 252,037 | ||||||
|
Arapahoe County School District No. 6 Littleton GO, 5.00%, 12/01/23 (SAW) |
1,070 | 1,089,987 | ||||||
| Security | Par (000) |
Value | ||||||
| Colorado (continued) | ||||||||
|
Board of Water Commissioners City & County of Denver (The) RB, Series B, 5.00%, 09/15/23 |
$ | 130 | $ | 132,032 | ||||
|
City & County of Denver Co. Airport System Revenue RB |
||||||||
|
Series A, 5.00%, 11/15/23 |
455 | 462,704 | ||||||
|
Series B, 5.00%, 11/15/23 |
200 | 203,386 | ||||||
|
City & County of Denver Co. GO, 5.00%, 08/01/23 |
1,000 | 1,013,949 | ||||||
|
City of Boulder Water & Sewer Revenue, 5.00%, 12/01/23 |
100 | 101,921 | ||||||
|
City of Colorado Springs Co. Utilities System Revenue RB, Series C, 5.00%, 11/15/23 |
100 | 101,796 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/23 |
400 | 404,690 | ||||||
|
Denver City & County School District No. 1 GO, 5.00%, 12/01/23 (SAW) |
415 | 423,196 | ||||||
|
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/23 (NPFGC)(a) |
120 | 116,323 | ||||||
|
Metro Wastewater Reclamation District RB, Series A, 5.00%, 04/01/23 |
500 | 503,792 | ||||||
|
University of Colorado RB, Series A-2, 5.00%, 06/01/23 |
390 | 394,064 | ||||||
|
|
|
|||||||
| 5,199,877 | ||||||||
| Connecticut — 2.0% | ||||||||
|
City of Stamford CT GO, 5.00%, 06/01/23 |
100 | 101,042 | ||||||
|
Connecticut State Health & Educational Facilities Authority RB |
||||||||
|
Series 214-A, VRDN, 1.10%, 07/01/48(b) |
500 | 496,176 | ||||||
|
Series C-2, VRDN, 5.00%, 07/01/57(b) |
1,030 | 1,034,634 | ||||||
|
State of Connecticut Clean Water Fund - State Revolving Fund RB, Series B, 5.00%, 06/01/23 |
125 | 126,360 | ||||||
|
State of Connecticut GO |
||||||||
|
5.00%, 07/15/23 |
1,000 | 1,012,813 | ||||||
|
Series A, 5.00%, 03/15/23 |
275 | 276,891 | ||||||
|
Series A, 5.00%, 04/15/23 |
520 | 524,381 | ||||||
|
Series A, 5.00%, 10/15/23 |
535 | 544,121 | ||||||
|
Series B, 3.00%, 06/01/23 |
150 | 149,845 | ||||||
|
Series B, 5.00%, 04/15/23 |
200 | 201,685 | ||||||
|
Series B, 5.00%, 05/15/23 |
335 | 338,327 | ||||||
|
Series D, 5.00%, 06/15/23 |
120 | 121,365 | ||||||
|
Series D, 5.00%, 09/15/23 |
400 | 406,254 | ||||||
|
Series E, 5.00%, 09/01/23 |
190 | 192,847 | ||||||
|
Series E, 5.00%, 10/15/23 |
100 | 101,705 | ||||||
|
Series F, 5.00%, 09/15/23 |
175 | 177,736 | ||||||
|
Series F, 5.00%, 11/15/23 |
200 | 203,694 | ||||||
|
Series H, 5.00%, 11/15/23 |
120 | 122,216 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
Series A, 5.00%, 01/01/23 |
145 | 145,414 | ||||||
|
Series A, 5.00%, 08/01/23 |
275 | 278,489 | ||||||
|
Series A, 5.00%, 09/01/23 |
190 | 192,659 | ||||||
|
Series A, 5.00%, 10/01/23 |
775 | 786,852 | ||||||
|
Series B, 5.00%, 08/01/23 |
240 | 243,045 | ||||||
|
Series B, 5.00%, 10/01/23 |
100 | 101,529 | ||||||
|
Series C, 5.00%, 01/01/23 |
1,800 | 1,805,144 | ||||||
|
University of Connecticut RB |
||||||||
|
Series A, 4.00%, 02/15/23 |
50 | 50,121 | ||||||
|
Series A, 5.00%, 02/15/23 |
100 | 100,524 | ||||||
|
Series A, 5.00%, 04/15/23 |
100 | 100,829 | ||||||
|
|
|
|||||||
| 9,936,698 | ||||||||
| Delaware — 0.7% | ||||||||
|
City of Wilmington DE GO, 3.00%, 06/01/23 |
160 | 159,737 | ||||||
|
County of New Castle DE GO |
||||||||
|
5.00%, 04/01/23 |
120 | 120,935 | ||||||
|
5.00%, 10/01/23 |
215 | 218,560 | ||||||
| 28 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Delaware (continued) | ||||||||
|
Delaware River & Bay Authority RB, Series B, 5.00%, 01/01/23 |
$ | 40 | $ | 40,114 | ||||
|
Delaware Transportation Authority RB, 5.00%, 07/01/23 |
1,325 | 1,341,265 | ||||||
|
State of Delaware GO |
||||||||
|
5.00%, 02/01/23 |
405 | 406,863 | ||||||
|
Series C, 5.00%, 03/01/23 |
640 | 643,936 | ||||||
|
Series A, 5.00%, 02/01/23 |
90 | 90,414 | ||||||
|
Series B, 5.00%, 07/01/23 |
165 | 167,004 | ||||||
|
Series C, 5.00%, 03/01/23 |
140 | 140,861 | ||||||
|
Series D, 5.00%, 07/01/23 |
210 | 212,550 | ||||||
|
|
|
|||||||
| 3,542,239 | ||||||||
| District of Columbia — 0.9% | ||||||||
|
District of Columbia GO |
||||||||
|
Series A, 5.00%, 06/01/23 |
2,080 | 2,102,276 | ||||||
|
Series B, 5.00%, 06/01/23 |
350 | 353,748 | ||||||
|
District of Columbia RB |
||||||||
|
5.00%, 07/15/23 |
20 | 20,187 | ||||||
|
Series A, 5.00%, 12/01/23 |
470 | 479,031 | ||||||
|
District of Columbia Water & Sewer Authority RB |
||||||||
|
Series A, 5.00%, 10/01/23 |
150 | 152,443 | ||||||
|
Series B, 5.00%, 10/01/23 |
215 | 218,288 | ||||||
|
Series C, 5.00%, 10/01/23 |
130 | 132,117 | ||||||
|
Washington Metropolitan Area Transit Authority RB |
||||||||
|
5.00%, 07/01/23 |
100 | 101,168 | ||||||
|
Series A, 5.00%, 07/15/23 |
500 | 506,162 | ||||||
|
Series A-1, 5.00%, 07/01/23 |
170 | 171,986 | ||||||
|
Series B, 5.00%, 07/01/23 |
220 | 222,570 | ||||||
|
|
|
|||||||
| 4,459,976 | ||||||||
| Florida — 3.5% | ||||||||
|
City of Jacksonville FL RB |
||||||||
|
5.00%, 10/01/23 |
110 | 111,583 | ||||||
|
Series C, 5.00%, 10/01/23 |
100 | 101,448 | ||||||
|
City of Orlando FL RB, Series B, 5.00%, 10/01/23 |
135 | 137,199 | ||||||
|
City of Tallahassee FL Utility System Revenue RB, 5.00%, 10/01/23 |
35 | 35,557 | ||||||
|
City of Tampa FL Sales Tax Revenue RB, 5.00%, 10/01/23 |
100 | 101,584 | ||||||
|
County of Broward FL Airport System Revenue RB |
||||||||
|
Series C, 5.00%, 10/01/23 |
110 | 111,553 | ||||||
|
Series C, 5.25%, 10/01/28 (PR 10/01/23) |
800 | 814,745 | ||||||
|
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/23 |
330 | 334,659 | ||||||
|
County of Miami-Dade FL GO |
||||||||
|
5.00%, 07/01/23 |
25 | 25,287 | ||||||
|
Series 2015-D, 5.00%, 07/01/23 |
290 | 293,330 | ||||||
|
Series A, 5.00%, 07/01/23 |
390 | 394,479 | ||||||
|
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/23 |
460 | 465,374 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/23 |
1,050 | 1,066,247 | ||||||
|
Series B, 5.00%, 10/01/23 |
215 | 218,327 | ||||||
|
County of Orange FL Sales Tax Revenue RB, Series C, 5.00%, 01/01/23 |
130 | 130,397 | ||||||
|
County of Orange FL Water Utility System Revenue RB, 5.00%, 10/01/23 |
110 | 111,802 | ||||||
|
County of Palm Beach FL Water & Sewer Revenue RB, 5.00%, 10/01/28 (PR 10/01/23) |
1,240 | 1,260,085 | ||||||
|
County of Seminole FL Water & Sewer Revenue RB, Series A, 5.00%, 10/01/23 |
180 | 182,916 | ||||||
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
|
Florida Department of Environmental Protection RB |
||||||||
|
5.00%, 07/01/23 |
$ | 625 | $ | 632,218 | ||||
|
Series A, 5.00%, 07/01/23 |
765 | 773,835 | ||||||
|
Florida Department of Management Services COP, Series A, 5.00%, 08/01/23 |
210 | 212,649 | ||||||
|
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/23 |
125 | 126,946 | ||||||
|
Florida’s Turnpike Enterprise RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
700 | 708,270 | ||||||
|
Series B, 5.00%, 07/01/23 |
625 | 632,383 | ||||||
|
Series C, 5.00%, 07/01/23 |
25 | 25,295 | ||||||
|
Hillsborough County School Board COP |
||||||||
|
5.00%, 07/01/23 |
100 | 100,977 | ||||||
|
Series A, 5.00%, 07/01/23 |
60 | 60,586 | ||||||
|
Jacksonville Transportation Authority RB, 5.00%, 08/01/23 |
185 | 187,210 | ||||||
|
Miami-Dade County Expressway Authority RB, Series A, 4.00%, 07/01/23 |
115 | 115,234 | ||||||
|
Orange County School Board COP |
||||||||
|
Series A, 5.00%, 08/01/23 |
90 | 91,102 | ||||||
|
Series D, 5.00%, 08/01/23 |
50 | 50,612 | ||||||
|
Orlando Utilities Commission RB, Series A, 5.00%, 10/01/23 |
270 | 274,300 | ||||||
|
Orlando-Orange County Convention Center RB, 5.00%, 10/01/23 |
285 | 289,410 | ||||||
|
Orlando-Orange County Expressway Authority RB, Series B, 5.00%, 07/01/23 |
150 | 151,535 | ||||||
|
Palm Beach County School District COP |
||||||||
|
Series A, 5.00%, 08/01/23 |
115 | 116,433 | ||||||
|
Series B, 5.00%, 08/01/23 |
250 | 253,116 | ||||||
|
Pasco County School Board COP, Series A, 5.00%, 08/01/23 |
20 | 20,234 | ||||||
|
Reedy Creek Improvement District GOL |
||||||||
|
5.00%, 06/01/23 |
125 | 126,288 | ||||||
|
Series A, 5.00%, 06/01/23 |
255 | 257,628 | ||||||
|
School Board of Miami-Dade County (The) COP, Series D, 5.00%, 02/01/23 |
150 | 150,634 | ||||||
|
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/23 |
260 | 261,653 | ||||||
|
School District of Broward County/FL COP |
||||||||
|
Series A, 5.00%, 07/01/23 |
270 | 272,745 | ||||||
|
Series B, 5.00%, 07/01/23 |
170 | 171,728 | ||||||
|
Seminole County School Board COP, Series C, 5.00%, 07/01/23 |
20 | 20,226 | ||||||
|
State of Florida Department of Transportation RB, 5.00%, 07/01/23 |
100 | 101,201 | ||||||
|
State of Florida Department of Transportation Turnpike System Revenue RB, Series B, 5.00%, 07/01/23 |
140 | 141,654 | ||||||
|
State of Florida GO |
||||||||
|
5.00%, 06/01/23 |
1,000 | 1,010,710 | ||||||
|
5.00%, 07/01/23 |
50 | 50,591 | ||||||
|
Series A, 5.00%, 06/01/23 |
705 | 712,550 | ||||||
|
Series A, 5.00%, 07/01/23 |
950 | 961,222 | ||||||
|
Series B, 5.00%, 06/01/23 |
640 | 646,854 | ||||||
|
Series C, 5.00%, 06/01/23 |
355 | 358,802 | ||||||
|
Series E, 5.00%, 06/01/23 |
210 | 212,249 | ||||||
|
State of Florida Lottery Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
255 | 257,962 | ||||||
|
Series B, 5.00%, 07/01/23 |
700 | 708,131 | ||||||
|
Volusia County School Board COP, Series A, 5.00%, 08/01/23 (BAM) |
110 | 111,412 | ||||||
|
|
|
|||||||
| 17,253,157 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
29 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Georgia — 1.2% |
||||||||
|
City of Atlanta GA Department of Aviation RB, 5.00%, 07/01/23. |
$ | 390 | $ | 394,504 | ||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
5.00%, 11/01/23 |
160 | 162,787 | ||||||
|
Series A, 5.00%, 11/01/23 |
125 | 127,178 | ||||||
|
City of Gainesville GA Water & Sewerage Revenue RB, 5.00%, 11/15/23 |
60 | 61,084 | ||||||
|
County of DeKalb GA Water & Sewerage Revenue RB, 5.00%, 10/01/23 |
135 | 137,150 | ||||||
|
County of Forsyth GA GO, Series B, 5.00%, 03/01/23 |
190 | 191,150 | ||||||
|
Development Authority for Fulton County RB, 5.00%, 11/01/23 |
125 | 127,153 | ||||||
|
Forsyth County School District GO, 5.00%, 02/01/23 |
130 | 130,598 | ||||||
|
Georgia State Road & Tollway Authority RB, Series A, 5.00%, 06/01/23 |
150 | 151,520 | ||||||
|
Gwinnett County Development Authority COP, 5.25%, 01/01/23 (NPFGC) |
115 | 115,398 | ||||||
|
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/23 |
500 | 506,789 | ||||||
|
Metropolitan Atlanta Rapid Transit Authority RB, 5.00%, 07/01/23 |
125 | 126,435 | ||||||
|
State of Georgia GO |
||||||||
|
Series A, 5.00%, 07/01/23 |
785 | 794,585 | ||||||
|
Series A-1, 5.00%, 02/01/23 |
450 | 452,182 | ||||||
|
Series C, 5.00%, 07/01/23 |
75 | 75,916 | ||||||
|
Series C-1, 5.00%, 07/01/23 |
175 | 177,137 | ||||||
|
Series D, 5.00%, 02/01/23 |
355 | 356,721 | ||||||
|
Series E, 5.00%, 12/01/23 |
870 | 886,809 | ||||||
|
Series F, 5.00%, 01/01/23 |
1,000 | 1,003,223 | ||||||
|
|
|
|||||||
| 5,978,319 | ||||||||
| Hawaii — 1.4% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB, Series B, 5.00%, 07/01/23 |
555 | 561,593 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
5.00%, 07/01/23 |
275 | 278,321 | ||||||
|
5.00%, 08/01/23 |
220 | 222,971 | ||||||
|
Series A, 5.00%, 09/01/23 |
355 | 360,290 | ||||||
|
Series A, 5.00%, 10/01/23 |
200 | 203,258 | ||||||
|
Series B, 4.00%, 10/01/23 |
100 | 100,736 | ||||||
|
Series B, 5.00%, 09/01/23 |
360 | 365,365 | ||||||
|
Series B, 5.00%, 10/01/23 |
185 | 188,013 | ||||||
|
Series C, 5.00%, 10/01/23 |
145 | 147,362 | ||||||
|
Series E, 4.00%, 09/01/23 |
145 | 145,983 | ||||||
|
County of Hawaii HI GO, Series D, 5.00%, 09/01/23 |
75 | 76,093 | ||||||
|
State of Hawaii GO |
||||||||
|
Series EH, 5.00%, 08/01/29 (PR 08/01/23) |
500 | 506,715 | ||||||
|
Series EH, 5.00%, 08/01/30 (PR 08/01/23) |
325 | 329,244 | ||||||
|
Series EH-2017, 5.00%, 08/01/23 (ETM) |
520 | 526,790 | ||||||
|
Series EO, 5.00%, 08/01/23 (ETM) |
50 | 50,634 | ||||||
|
Series EP, 5.00%, 08/01/23 |
455 | 461,144 | ||||||
|
Series EY, 5.00%, 10/01/23 |
385 | 391,271 | ||||||
|
Series EZ, 5.00%, 10/01/23 |
160 | 162,606 | ||||||
|
Series FE, 5.00%, 10/01/23 |
300 | 304,887 | ||||||
|
Series FG, 4.00%, 10/01/23 |
135 | 135,993 | ||||||
|
Series FG, 5.00%, 10/01/23 |
70 | 71,140 | ||||||
|
Series FH, 5.00%, 10/01/23 |
115 | 116,873 | ||||||
|
Series FK, 4.00%, 05/01/23 |
160 | 160,688 | ||||||
|
Series FK, 5.00%, 05/01/23 |
215 | 216,977 | ||||||
|
Series FN, 5.00%, 10/01/23 |
130 | 132,118 | ||||||
|
State of Hawaii State Highway Fund RB |
||||||||
|
Series A, 5.00%, 01/01/23 |
100 | 100,306 | ||||||
|
Series B, 4.00%, 01/01/23 |
165 | 165,238 | ||||||
| Security | Par (000) |
Value | ||||||
| Hawaii (continued) | ||||||||
|
Series B, 5.00%, 01/01/23 |
$ | 280 | $ | 280,856 | ||||
|
|
|
|||||||
| 6,763,465 | ||||||||
| Idaho — 0.1% | ||||||||
|
Idaho Housing & Finance Association RB, 5.00%, 07/15/23 |
330 | 333,883 | ||||||
|
|
|
|||||||
|
Illinois — 1.7% |
||||||||
|
Chicago O’Hare International Airport RB |
||||||||
|
4.13%, 01/01/23 |
50 | 50,049 | ||||||
|
Series C, 5.00%, 01/01/23 |
100 | 100,293 | ||||||
|
Series B, 5.00%, 01/01/23 |
500 | 501,462 | ||||||
|
Series D, 5.00%, 01/01/23 |
90 | 90,263 | ||||||
|
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/23 |
200 | 201,727 | ||||||
|
Illinois Finance Authority RB |
||||||||
|
5.00%, 01/01/23 |
335 | 335,857 | ||||||
|
5.00%, 07/01/23 |
700 | 707,531 | ||||||
|
5.00%, 12/01/23 |
275 | 280,137 | ||||||
|
Series A, 5.00%, 10/01/23 |
280 | 284,409 | ||||||
|
State of Illinois GO |
||||||||
|
5.00%, 02/01/23 |
120 | 120,305 | ||||||
|
5.00%, 05/01/23 |
625 | 628,137 | ||||||
|
5.00%, 06/01/23 |
165 | 165,933 | ||||||
|
5.00%, 07/01/23 |
235 | 236,469 | ||||||
|
5.00%, 08/01/23 |
380 | 382,559 | ||||||
|
5.38%, 05/01/23 |
145 | 145,993 | ||||||
|
Series A, 5.00%, 04/01/23 |
250 | 251,053 | ||||||
|
Series A, 5.00%, 10/01/23 |
200 | 201,513 | ||||||
|
Series B, 5.00%, 03/01/23 |
765 | 767,586 | ||||||
|
Series B, 5.00%, 10/01/23 |
460 | 463,479 | ||||||
|
Series B, 5.00%, 12/01/23 |
50 | 50,403 | ||||||
|
Series D, 5.00%, 11/01/23 |
1,915 | 1,930,153 | ||||||
|
State of Illinois RB |
||||||||
|
5.00%, 06/15/23 |
325 | 326,953 | ||||||
|
First Series, 6.00%, 06/15/23 (NPFGC) |
90 | 91,060 | ||||||
|
Series C, 4.00%, 06/15/23 |
25 | 24,999 | ||||||
|
|
|
|||||||
| 8,338,323 | ||||||||
| Indiana — 0.8% | ||||||||
|
Ball State University, Series R, 5.00%, 07/01/23 |
240 | 242,756 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 10/01/23 |
425 | 431,691 | ||||||
|
Series 2, 5.00%, 10/01/23 |
255 | 259,015 | ||||||
|
Series A, 5.00%, 02/01/23 |
60 | 60,276 | ||||||
|
Series A, 5.00%, 06/01/23 |
120 | 121,237 | ||||||
|
Series A, 5.00%, 12/01/23 |
110 | 111,914 | ||||||
|
Series B, 5.00%, 02/01/23 |
55 | 55,253 | ||||||
|
Series C, 5.00%, 12/01/23 |
1,285 | 1,309,415 | ||||||
|
Indiana Municipal Power Agency RB, Series A, 5.00%, 01/01/23 |
130 | 130,382 | ||||||
|
Indiana University RB |
||||||||
|
Series A, 5.00%, 06/01/23 |
175 | 176,864 | ||||||
|
Series X, 5.00%, 08/01/23 |
185 | 187,498 | ||||||
|
Purdue University COP |
||||||||
|
5.25%, 07/01/23 |
145 | 146,911 | ||||||
|
Series A, 5.00%, 07/01/23 |
215 | 217,483 | ||||||
|
Purdue University RB |
||||||||
|
5.00%, 07/01/23 |
130 | 131,502 | ||||||
|
Series A, 4.00%, 07/01/23 |
85 | 85,429 | ||||||
|
Series BB-1, 5.00%, 07/01/23 |
75 | 75,866 | ||||||
|
|
|
|||||||
| 3,743,492 | ||||||||
| 30 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Iowa — 0.3% |
||||||||
|
County of Polk IA GO, Series C, 5.00%, 06/01/23 |
$ | 220 | $ | 222,229 | ||||
|
Iowa City Community School District Infrastructure Sales Services & Use Tax, RB, 5.00%, 06/01/23 |
55 | 55,538 | ||||||
|
Iowa Finance Authority RB, 5.00%, 08/01/23 |
255 | 258,463 | ||||||
|
State of Iowa RB |
||||||||
|
5.00%, 06/15/23 |
145 | 146,489 | ||||||
|
Series A, 5.00%, 06/01/23 |
690 | 696,673 | ||||||
|
|
|
|||||||
| 1,379,392 | ||||||||
| Kansas — 0.3% | ||||||||
|
City of Wichita KS GO, Series 811, 5.00%, 06/01/23 |
135 | 136,430 | ||||||
|
Johnson County Water District No. 1 RB, Series A, 5.00%, 01/01/23 |
210 | 210,635 | ||||||
|
Kansas Development Finance Authority RB, Series B, 5.00%, 05/01/23 |
190 | 191,625 | ||||||
|
Sedgwick County Unified School District No. 259 Wichita GO, Series A, 4.00%, 10/01/23 |
70 | 70,502 | ||||||
|
State of Kansas Department of Transportation RB, Series A, 5.00%, 09/01/23 |
690 | 699,829 | ||||||
|
Wyandotte County-Kansas City Unified Government GO, Series D, 5.00%, 08/01/23 |
100 | 101,350 | ||||||
|
|
|
|||||||
| 1,410,371 | ||||||||
| Kentucky — 0.1% | ||||||||
|
Kentucky Asset Liability Commission RB, 5.25%, 09/01/23 |
500 | 507,889 | ||||||
|
Louisville & Jefferson County Metropolitan Sewer District RB, Series C, 5.00%, 05/15/23 |
125 | 126,308 | ||||||
|
|
|
|||||||
| 634,197 | ||||||||
| Louisiana — 0.7% | ||||||||
|
State of Louiliana RB, Series A, 5.00%, 06/15/23 |
25 | 25,261 | ||||||
|
State of Louisiana GO |
||||||||
|
4.00%, 05/15/30 (PR 05/15/23) |
1,500 | 1,506,620 | ||||||
|
5.00%, 08/01/23 |
120 | 121,576 | ||||||
|
Series A, 4.00%, 09/01/23 |
75 | 75,478 | ||||||
|
Series A, 5.00%, 02/01/23 |
210 | 210,934 | ||||||
|
Series A, 5.00%, 04/01/23 |
35 | 35,261 | ||||||
|
Series C, 5.00%, 07/15/23 |
150 | 151,859 | ||||||
|
Series C, 5.00%, 08/01/23 |
500 | 506,566 | ||||||
|
Series D-1, 5.00%, 12/01/23 |
275 | 280,108 | ||||||
|
State of Louisiana RB |
||||||||
|
5.00%, 09/01/23 |
365 | 370,018 | ||||||
|
Series A, 5.00%, 06/15/23 |
300 | 303,136 | ||||||
|
|
|
|||||||
| 3,586,817 | ||||||||
| Maine — 0.8% | ||||||||
|
City of Portland ME GOL, 4.00%, 04/01/23 |
115 | 115,413 | ||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
5.00%, 11/01/23 |
135 | 137,285 | ||||||
|
Series A, 5.00%, 09/01/23 |
860 | 872,249 | ||||||
|
Series A, 5.00%, 11/01/23 |
125 | 127,116 | ||||||
|
Series C, 5.00%, 11/01/23 |
225 | 228,809 | ||||||
|
Maine Turnpike Authority RB, 5.00%, 07/01/23 |
90 | 91,040 | ||||||
|
State of Maine GO |
||||||||
|
Series B, 5.00%, 06/01/23 |
990 | 1,000,946 | ||||||
|
Series D, 5.00%, 06/01/23 |
1,250 | 1,263,531 | ||||||
|
|
|
|||||||
| 3,836,389 | ||||||||
| Maryland — 4.7% | ||||||||
|
City of Baltimore MD GO, Series A, 5.00%, 10/15/23 |
200 | 203,315 | ||||||
|
City of Baltimore MD RB, Series D, 5.00%, 07/01/23 |
330 | 333,790 | ||||||
|
County of Anne Arundel MD GOL |
||||||||
|
5.00%, 04/01/23 |
115 | 115,886 | ||||||
|
5.00%, 10/01/23 |
1,565 | 1,590,633 | ||||||
| Security | Par (000) |
Value | ||||||
| Maryland (continued) | ||||||||
|
County of Baltimore MD GO |
||||||||
|
5.00%, 02/01/23 |
$ | 1,235 | $ | 1,240,680 | ||||
|
5.00%, 08/01/23 |
100 | 101,358 | ||||||
|
5.00%, 11/01/23 |
180 | 183,207 | ||||||
|
County of Charles MD GO |
||||||||
|
5.00%, 10/01/23 |
1,030 | 1,046,871 | ||||||
|
5.00%, 11/01/23 |
10 | 10,178 | ||||||
|
County of Frederick MD GO, Series A, 5.00%, 08/01/23 |
240 | 243,170 | ||||||
|
County of Harford MD GO |
||||||||
|
5.00%, 07/01/23 |
1,500 | 1,518,215 | ||||||
|
5.00%, 09/15/23 |
260 | 264,065 | ||||||
|
County of Howard MD, 5.00%, 02/15/23 |
390 | 392,120 | ||||||
|
County of Howard MD GO, Series A, 5.00%, 02/15/23 |
155 | 155,843 | ||||||
|
County of Montgomery MD |
||||||||
|
5.00%, 11/01/23 |
830 | 844,788 | ||||||
|
5.00%, 11/01/26 (PR 11/01/23) |
1,000 | 1,017,619 | ||||||
|
County of Montgomery MD GO |
||||||||
|
5.00%, 11/01/23 |
125 | 127,227 | ||||||
|
Series A, 5.00%, 11/01/23 |
590 | 600,511 | ||||||
|
Series A, 5.00%, 12/01/23 |
675 | 687,970 | ||||||
|
Series B, 5.00%, 11/01/23 |
465 | 473,285 | ||||||
|
Series B, 5.00%, 12/01/23 |
620 | 631,913 | ||||||
|
Series C, 5.00%, 10/01/23 |
295 | 299,832 | ||||||
|
County of Prince George’s MD COP, 5.00%, 10/15/23 |
25 | 25,367 | ||||||
|
County of Prince George’s MD GO, Series A, 5.00%, 09/15/23 |
120 | 121,876 | ||||||
|
County of Prince George’s MD GOL |
||||||||
|
5.00%, 07/01/23 |
250 | 253,036 | ||||||
|
Series A, 5.00%, 07/01/23 |
235 | 237,854 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
4.00%, 09/01/23 |
355 | 357,377 | ||||||
|
5.00%, 02/15/23 |
790 | 794,158 | ||||||
|
5.00%, 09/01/23 |
200 | 202,964 | ||||||
|
5.00%, 10/01/23 |
910 | 924,740 | ||||||
|
State of Maryland GO |
||||||||
|
First Series, 5.00%, 06/01/23 |
1,715 | 1,733,664 | ||||||
|
Second Series, 5.00%, 08/01/23 |
90 | 91,242 | ||||||
|
Series A, 5.00%, 03/01/23 |
275 | 276,719 | ||||||
|
Series A, 5.00%, 08/01/23 |
510 | 517,038 | ||||||
|
Series B, 4.00%, 08/01/23 |
595 | 598,856 | ||||||
|
Series C, 5.00%, 08/01/23 |
3,340 | 3,386,095 | ||||||
|
Washington Suburban Sanitary Commission RB |
||||||||
|
4.00%, 06/01/23 (GTD) |
85 | 85,425 | ||||||
|
5.00%, 06/01/23 (GTD) |
725 | 732,743 | ||||||
|
5.00%, 06/15/23 (GTD) |
575 | 581,542 | ||||||
|
|
|
|||||||
| 23,003,172 | ||||||||
| Massachusetts — 2.7% | ||||||||
|
City of Boston MA GO |
||||||||
|
5.00%, 11/01/23 |
2,000 | 2,035,436 | ||||||
|
Series A, 5.00%, 03/01/23 |
235 | 236,438 | ||||||
|
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/23 |
390 | 394,461 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
Series 8, 5.00%, 07/01/23 |
175 | 177,125 | ||||||
|
Series A, 4.20%, 08/01/23 (AMBAC) |
100 | 100,772 | ||||||
|
Series A, 5.00%, 03/01/23 |
260 | 261,599 | ||||||
|
Series A, 5.00%, 05/01/23 |
1,965 | 1,983,168 | ||||||
|
Series A, 5.00%, 07/01/23 |
430 | 435,221 | ||||||
|
Series B, 5.00%, 01/01/23 |
100 | 100,306 | ||||||
|
Series B, 5.25%, 08/01/23 |
70 | 71,078 | ||||||
|
Series B, 5.25%, 09/01/23 (AGM) |
990 | 1,006,846 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
31 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Massachusetts (continued) | ||||||||
|
Series C, 5.00%, 04/01/23 |
$ | 445 | $ | 448,430 | ||||
|
Series C, 5.00%, 10/01/23 |
110 | 111,802 | ||||||
|
Series C, 5.50%, 12/01/23 (AMBAC) |
500 | 512,241 | ||||||
|
Series D, 5.00%, 07/01/23 |
280 | 283,400 | ||||||
|
Series E, 5.00%, 11/01/23 |
985 | 1,002,549 | ||||||
|
Series H, 5.00%, 12/01/23 |
120 | 122,306 | ||||||
|
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/23 |
375 | 378,800 | ||||||
|
Massachusetts Bay Transportation Authority RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
250 | 253,035 | ||||||
|
Series B, 5.25%, 07/01/23 |
485 | 491,679 | ||||||
|
Series C, 5.50%, 07/01/23 |
75 | 76,155 | ||||||
|
Massachusetts Bay Transportation Authority Sales Tax Revenue RB |
||||||||
|
5.00%, 07/01/23 |
160 | 161,922 | ||||||
|
Series A, 5.00%, 07/01/23 |
325 | 328,947 | ||||||
|
Massachusetts Clean Water Trust (The) RB, 5.00%, 08/01/23 |
255 | 258,462 | ||||||
|
Massachusetts Department of Transportation RB, Series C, 0.00%, 01/01/23 (NPFGC)(a) |
85 | 84,501 | ||||||
|
Massachusetts School Building Authority RB |
||||||||
|
Series A, 5.00%, 05/15/23 |
425 | 429,184 | ||||||
|
Series A, 5.00%, 11/15/23 (ETM) |
85 | 86,554 | ||||||
|
Series A, 5.00%, 05/15/38 (PR 05/15/23) |
325 | 328,113 | ||||||
|
Series C, 4.00%, 08/15/23 (ETM) |
60 | 60,386 | ||||||
|
Massachusetts State College Building Authority RB |
||||||||
|
4.00%, 05/01/23 (ST HGR ED INTERCEPT PROG) |
140 | 140,581 | ||||||
|
4.00%, 05/01/23 (ETM) (ST HGR ED INTERCEPT PROG) |
10 | 10,038 | ||||||
|
5.00%, 05/01/23 (ST INTERCEPT) |
100 | 100,905 | ||||||
|
Massachusetts Water Resources Authority RB |
||||||||
|
Series A, 5.00%, 08/01/23 |
115 | 116,519 | ||||||
|
Series B, 5.25%, 08/01/23 (AGM) |
275 | 279,135 | ||||||
|
University of Massachusetts Building Authority RB |
||||||||
|
5.00%, 11/01/23 |
100 | 101,752 | ||||||
|
Series 2021-1, 5.00%, 11/01/23 |
345 | 351,045 | ||||||
|
|
|
|||||||
| 13,320,891 | ||||||||
| Michigan — 1.4% | ||||||||
|
County of Macomb MI GOL, 4.00%, 05/01/23 |
100 | 100,435 | ||||||
|
Great Lakes Water Authority Water Supply System Revenue RB, Series A, 5.00%, 07/01/23 |
310 | 313,458 | ||||||
|
Michigan Finance Authority, 5.00%, 10/01/23 |
195 | 197,929 | ||||||
|
Michigan Finance Authority RB |
||||||||
|
5.00%, 11/15/23 |
50 | 50,719 | ||||||
|
Series B, 5.00%, 10/01/23 |
270 | 274,056 | ||||||
|
Michigan State Building Authority RB |
||||||||
|
Series I, 5.00%, 04/15/23 |
1,095 | 1,103,533 | ||||||
|
Series I, 5.00%, 10/15/23 |
330 | 335,191 | ||||||
|
State of Michigan GO |
||||||||
|
5.00%, 12/01/23 |
75 | 76,441 | ||||||
|
Series A, 5.00%, 05/01/23 |
55 | 55,509 | ||||||
|
Series A, 5.00%, 12/01/23 |
190 | 193,651 | ||||||
|
Series B, 5.00%, 11/01/23 |
20 | 20,356 | ||||||
|
State of Michigan RB, 5.00%, 03/15/23 |
525 | 528,377 | ||||||
|
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/23 |
2,070 | 2,106,744 | ||||||
|
University of Michigan RB |
||||||||
|
5.00%, 04/01/23 (ETM) |
500 | 503,812 | ||||||
|
Series A, 5.00%, 04/01/23 |
265 | 267,031 | ||||||
|
Series A, 5.00%, 04/01/23 (ETM) |
450 | 453,245 | ||||||
| Security | Par (000) |
Value | ||||||
| Michigan (continued) | ||||||||
|
Wayne County Airport Authority RB, Series G, 5.00%, 12/01/23 |
$ | 100 | $ | 101,772 | ||||
|
|
|
|||||||
| 6,682,259 | ||||||||
| Minnesota — 1.9% | ||||||||
|
City of Rochester MN Electric Utility Revenue RB, Series E, 5.00%, 12/01/23 |
25 | 25,462 | ||||||
|
County of Hennepin MN GO |
||||||||
|
5.00%, 12/01/23 |
305 | 310,860 | ||||||
|
Series C, 5.00%, 12/01/23 |
385 | 392,398 | ||||||
|
Series A, 5.00%, 12/01/23 |
95 | 96,825 | ||||||
|
Series C, 5.00%, 12/01/23 |
70 | 71,345 | ||||||
|
Elk River Independent School District No. 728 GO, Series A, |
||||||||
|
5.00%, 02/01/23 |
85 | 85,389 | ||||||
|
Metropolitan Council GO |
||||||||
|
Series A, 5.00%, 03/01/23 |
320 | 321,989 | ||||||
|
Series B, 5.00%, 12/01/23 |
225 | 229,371 | ||||||
|
Minnesota Municipal Power Agency RB, 5.00%, 10/01/23 |
30 | 30,445 | ||||||
|
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/23 |
480 | 482,920 | ||||||
|
Southern Minnesota Municipal Power Agency RB, Series A, 5.00%, 01/01/23 |
115 | 115,313 | ||||||
|
State of Minnesota GO |
||||||||
|
5.00%, 09/01/23 |
1,770 | 1,796,524 | ||||||
|
5.00%, 10/01/23 |
750 | 762,284 | ||||||
|
Series D, 5.00%, 10/01/23 |
100 | 101,638 | ||||||
|
Series A, 5.00%, 08/01/23 |
610 | 618,283 | ||||||
|
Series A, 5.00%, 09/01/23 |
1,000 | 1,014,985 | ||||||
|
Series B, 5.00%, 08/01/23 |
840 | 851,406 | ||||||
|
Series B, 5.00%, 10/01/23 |
250 | 254,095 | ||||||
|
Series D, 5.00%, 08/01/23 |
770 | 780,455 | ||||||
|
Series F, 5.00%, 10/01/23 |
175 | 177,866 | ||||||
|
State of Minnesota RB, Series A, 5.00%, 06/01/23 |
585 | 591,265 | ||||||
|
University of Minnesota, 5.00%, 09/01/23 |
100 | 101,482 | ||||||
|
|
|
|||||||
| 9,212,600 | ||||||||
| Mississippi — 0.2% | ||||||||
|
State of Mississippi GO |
||||||||
|
5.00%, 12/01/27 (PR 12/01/23) |
770 | 784,630 | ||||||
|
Series F, 5.25%, 10/01/23 |
215 | 219,002 | ||||||
|
|
|
|||||||
| 1,003,632 | ||||||||
| Missouri — 1.0% | ||||||||
|
City of Kansas City MO GO, Series A, 5.00%, 02/01/23 |
550 | 552,406 | ||||||
|
City of Springfield MO Public Utility Revenue RB, 5.00%, 08/01/23 |
235 | 238,016 | ||||||
|
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 (PR 05/01/23) |
175 | 176,557 | ||||||
|
Metropolitan St. Louis Sewer District Wastewater System RB, 5.00%, 05/01/23 |
660 | 666,037 | ||||||
|
Missouri Highway & Transportation Commission RB |
||||||||
|
Series A, 4.00%, 05/01/23 |
100 | 100,420 | ||||||
|
Series A, 5.00%, 05/01/23 |
330 | 333,002 | ||||||
|
Series B, 5.00%, 05/01/23 |
125 | 126,137 | ||||||
|
Series C, 5.00%, 02/01/23 |
620 | 622,805 | ||||||
|
Series S, 5.00%, 05/01/23 |
690 | 696,379 | ||||||
|
Missouri State Board of Public Buildings RB |
||||||||
|
5.00%, 10/01/23 |
425 | 431,769 | ||||||
|
Series A, 4.00%, 04/01/23 |
295 | 296,011 | ||||||
|
Series B, 5.00%, 10/01/23 |
155 | 157,469 | ||||||
| 32 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Missouri (continued) | ||||||||
|
Missouri State Environmental Improvement & Energy Resources Authority RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
$ | 160 | $ | 161,911 | ||||
|
Series B, 5.00%, 01/01/23 |
80 | 80,241 | ||||||
|
Series B, 5.00%, 07/01/23 |
440 | 445,256 | ||||||
|
|
|
|||||||
| 5,084,416 | ||||||||
| Nebraska — 0.7% | ||||||||
|
Nebraska Public Power District RB |
||||||||
|
5.00%, 01/01/23 |
455 | 456,331 | ||||||
|
Series B, 5.00%, 01/01/23 |
235 | 235,687 | ||||||
|
Omaha Public Power District RB |
||||||||
|
5.00%, 02/01/23 |
1,935 | 1,943,416 | ||||||
|
Series A, 5.00%, 02/01/23 |
740 | 743,219 | ||||||
|
|
|
|||||||
| 3,378,653 | ||||||||
| Nevada — 2.8% | ||||||||
|
City of Las Vegas NV GOL, Series A, 5.00%, 06/01/23 |
115 | 116,165 | ||||||
|
Clark County School District GOL |
||||||||
|
Series A, 5.00%, 06/15/23 |
300 | 303,118 | ||||||
|
Series A, 5.00%, 06/15/23 |
300 | 303,118 | ||||||
|
Series B, 5.00%, 06/15/23 |
260 | 262,702 | ||||||
|
Series D, 5.00%, 06/15/23 |
2,000 | 2,020,786 | ||||||
|
Clark County Water Reclamation District GOL, 5.00%, 07/01/23 |
1,140 | 1,153,016 | ||||||
|
County of Clark Department of Aviation RB |
||||||||
|
5.00%, 07/01/23 |
215 | 217,412 | ||||||
|
Series A, 5.00%, 07/01/23 |
150 | 151,683 | ||||||
|
County of Clark NV, 5.00%, 06/01/23 |
260 | 262,664 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 06/01/23 |
75 | 75,816 | ||||||
|
5.00%, 11/01/23 |
580 | 590,048 | ||||||
|
5.00%, 12/01/23 |
100 | 101,868 | ||||||
|
Series A, 5.00%, 11/01/23 |
355 | 361,150 | ||||||
|
County of Clark NV Passenger Facility Charge Revenue RB, |
||||||||
|
5.00%, 07/01/23 |
380 | 384,264 | ||||||
|
County of Clark NV RB, 5.00%, 07/01/23 |
950 | 960,909 | ||||||
|
Las Vegas Valley Water District GOL |
||||||||
|
5.00%, 06/01/23 |
1,180 | 1,192,365 | ||||||
|
Series A, 5.00%, 06/01/23 |
570 | 575,973 | ||||||
|
Series B, 5.00%, 12/01/23 |
155 | 157,912 | ||||||
|
Nevada System of Higher Education COP, Series A, 5.00%, 07/01/23 |
40 | 40,459 | ||||||
|
Nevada System of Higher Education RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
150 | 151,594 | ||||||
|
Series B, 5.00%, 07/01/23 |
100 | 101,063 | ||||||
|
State of Nevada GOL |
||||||||
|
5.00%, 11/01/23 |
1,000 | 1,017,323 | ||||||
|
Series D, 5.00%, 04/01/23 |
380 | 382,850 | ||||||
|
Series D-1, 5.00%, 03/01/23 |
675 | 679,039 | ||||||
|
Series H-1, 5.00%, 06/01/23 |
210 | 212,188 | ||||||
|
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/23 |
1,270 | 1,294,402 | ||||||
|
Truckee Meadows Water Authority RB, 5.00%, 07/01/23 |
305 | 308,704 | ||||||
|
Washoe County School District/NV GOL |
||||||||
|
Series A, 5.00%, 06/01/23 (PSF) |
190 | 191,980 | ||||||
|
Series F, 5.00%, 06/01/23 |
40 | 40,417 | ||||||
|
|
|
|||||||
| 13,610,988 | ||||||||
| New Hampshire — 0.2% | ||||||||
|
New Hampshire Health and Education Facilities Authority Act RB, 5.00%, 07/01/23 |
125 | 126,378 | ||||||
| Security | Par (000) |
Value | ||||||
| New Hampshire (continued) | ||||||||
|
New Hampshire Municipal Bond Bank RB |
||||||||
|
5.00%, 08/15/23 |
$ | 315 | $ | 319,484 | ||||
|
Series B, 5.00%, 08/15/23 |
100 | 101,423 | ||||||
|
Series C, 5.25%, 08/15/23 (HERBIP) |
100 | 101,616 | ||||||
|
Series E, 5.00%, 08/15/23 |
125 | 126,730 | ||||||
|
State of New Hampshire GO, Series A, 5.00%, 03/01/23 |
200 | 201,237 | ||||||
|
|
|
|||||||
| 976,868 | ||||||||
| New Jersey — 2.0% | ||||||||
|
County of Monmouth NJ GO |
||||||||
|
5.00%, 01/15/23 |
120 | 120,478 | ||||||
|
5.00%, 07/15/23 |
115 | 116,554 | ||||||
|
Monmouth County Improvement Authority (The) RB |
||||||||
|
5.00%, 07/15/23 |
160 | 162,050 | ||||||
|
Series B, 4.00%, 08/01/23 (GTD) |
115 | 115,720 | ||||||
|
Series B, 5.00%, 12/01/23 (GTD) |
245 | 249,708 | ||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/23 |
100 | 101,251 | ||||||
|
New Jersey Economic Development Authority RB |
||||||||
|
5.00%, 06/15/23 |
150 | 151,209 | ||||||
|
Series B, 5.00%, 11/01/23 (SAP) |
470 | 475,878 | ||||||
|
Series DDD, 5.00%, 06/15/23 |
100 | 100,806 | ||||||
|
Series N-1, 5.50%, 09/01/23 (NPFGC) |
200 | 202,919 | ||||||
|
Series NN, 5.00%, 03/01/23 |
800 | 803,488 | ||||||
|
Series UU, 5.00%, 06/15/23 |
50 | 50,403 | ||||||
|
Series XX, 5.00%, 06/15/23 (SAP) |
1,005 | 1,013,101 | ||||||
|
New Jersey Educational Facilities Authority RB |
||||||||
|
5.00%, 06/01/23 (SAP) |
95 | 95,722 | ||||||
|
5.00%, 06/15/23 |
140 | 141,128 | ||||||
|
5.00%, 07/01/23 |
400 | 404,857 | ||||||
|
Series B, 5.00%, 07/01/23 |
50 | 50,607 | ||||||
|
New Jersey Transportation Trust Fund Authority RB |
||||||||
|
Series A, 5.00%, 06/15/23 |
405 | 408,364 | ||||||
|
Series A, 5.75%, 06/15/23 (NPFGC) |
100 | 101,261 | ||||||
|
Series AA, 5.00%, 06/15/23 |
505 | 509,071 | ||||||
|
New Jersey Turnpike Authority RB |
||||||||
|
Series A, 5.00%, 01/01/23 (ETM) |
10 | 10,030 | ||||||
|
Series B, 5.00%, 01/01/23 |
255 | 255,695 | ||||||
|
Series C, 5.00%, 01/01/23 |
170 | 170,463 | ||||||
|
State of New Jersey GO |
||||||||
|
5.00%, 06/01/23 |
560 | 565,189 | ||||||
|
Series A, 4.00%, 06/01/23 |
2,895 | 2,905,340 | ||||||
|
Series T, 5.00%, 06/01/23 |
350 | 353,244 | ||||||
|
|
|
|||||||
| 9,634,536 | ||||||||
| New Mexico — 0.9% | ||||||||
|
County of Santa Fe NM GO, 5.00%, 07/01/23 |
205 | 207,489 | ||||||
|
County of Santa Fe NM RB, 5.00%, 06/01/23 |
185 | 186,981 | ||||||
|
New Mexico Finance Authority RB |
||||||||
|
Series A, 5.00%, 06/15/23 |
145 | 146,641 | ||||||
|
Series B, 5.00%, 06/01/23 |
140 | 141,491 | ||||||
|
State of New Mexico GO |
||||||||
|
5.00%, 03/01/23 |
100 | 100,612 | ||||||
|
Series B, 5.00%, 03/01/23 |
600 | 603,670 | ||||||
|
State of New Mexico Severance Tax Permanent Fund RB |
||||||||
|
5.00%, 07/01/23 |
155 | 156,872 | ||||||
|
Series A, 5.00%, 07/01/23 |
2,090 | 2,115,243 | ||||||
|
Series B, 4.00%, 07/01/23 |
390 | 392,171 | ||||||
|
Series B, 5.00%, 07/01/23 |
40 | 40,465 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
33 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| New Mexico (continued) | ||||||||
|
University of New Mexico (The) RB |
||||||||
|
Series A, 5.00%, 06/01/23 |
$ | 195 | $ | 196,863 | ||||
|
Series C, 5.00%, 06/01/23 |
295 | 297,819 | ||||||
|
|
|
|||||||
| 4,586,317 | ||||||||
| New York — 9.3% | ||||||||
|
City of New York NY GO |
||||||||
|
Series 1, 5.00%, 08/01/23 |
375 | 380,092 | ||||||
|
Series A, 4.00%, 08/01/23 |
150 | 150,939 | ||||||
|
Series A, 5.00%, 08/01/23 |
345 | 349,684 | ||||||
|
Series A-1, 5.00%, 08/01/23 |
320 | 324,345 | ||||||
|
Series C, 5.00%, 08/01/23 |
2,075 | 2,103,173 | ||||||
|
Series C-1, 5.00%, 08/01/23 |
2,250 | 2,280,550 | ||||||
|
Series D, 5.00%, 08/01/23 |
35 | 35,475 | ||||||
|
Series D-1, 5.00%, 08/01/23 |
50 | 50,679 | ||||||
|
Series E, 5.00%, 08/01/23 |
210 | 212,852 | ||||||
|
Series G, 5.00%, 08/01/23 |
705 | 714,572 | ||||||
|
Series H, 5.00%, 08/01/23 |
765 | 775,387 | ||||||
|
Series I, 5.00%, 03/01/23 |
65 | 65,400 | ||||||
|
Series I, 5.00%, 03/01/23 (ETM) |
25 | 25,148 | ||||||
|
Series I, 5.00%, 08/01/23 |
655 | 663,893 | ||||||
|
Series J, 5.00%, 08/01/23 |
800 | 810,863 | ||||||
|
County of Albany NY GOL, 4.00%, 08/01/23 |
105 | 105,611 | ||||||
|
County of Nassau NY GOL, Series C, 5.00%, 04/01/28 (PR 04/01/23) (AGM) |
515 | 518,927 | ||||||
|
Erie County Industrial Development Agency (The) RB, 5.00%, 05/01/23 (SAW) |
250 | 252,225 | ||||||
|
Hudson Yards Infrastructure Corp. RB |
||||||||
|
4.00%, 02/15/23 |
155 | 155,344 | ||||||
|
Series A, 5.00%, 02/15/23 |
175 | 175,881 | ||||||
|
Long Island Power Authority RB |
||||||||
|
5.00%, 09/01/23 |
400 | 405,434 | ||||||
|
Series A, 5.00%, 09/01/23 |
150 | 152,038 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
4.00%, 11/15/23 |
200 | 200,560 | ||||||
|
Series A, 5.00%, 11/15/23 |
10 | 10,169 | ||||||
|
Series A-1, 5.00%, 11/15/23 |
50 | 50,644 | ||||||
|
Series A-2, 5.00%, 11/15/23 |
195 | 197,510 | ||||||
|
Series B, 5.00%, 11/15/23 |
1,635 | 1,656,236 | ||||||
|
Series B-3, 5.00%, 11/15/23 |
55 | 55,708 | ||||||
|
Series C, 5.00%, 11/15/23 |
395 | 400,087 | ||||||
|
Series C-1, 5.00%, 11/15/23 |
915 | 926,777 | ||||||
|
Series D, 5.00%, 11/15/23 |
400 | 405,149 | ||||||
|
Series F, 5.00%, 11/15/23 |
140 | 141,802 | ||||||
|
New York City Municipal Water Finance Authority RB, Series AA-2, 5.00%, 06/15/23 |
885 | 894,991 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
Series S-1, 5.00%, 07/15/23 (SAW) |
650 | 658,126 | ||||||
|
Series S-2, 5.00%, 07/15/23 (SAW) |
370 | 374,534 | ||||||
|
Series S-3, 5.00%, 07/15/23 (SAW) |
200 | 202,451 | ||||||
|
Series S-4A, 5.00%, 07/15/23 (SAW) |
250 | 253,176 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue |
||||||||
|
5.00%, 08/01/23 |
180 | 182,471 | ||||||
|
5.00%, 08/01/23 (ETM) |
35 | 35,418 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
5.00%, 11/01/23 |
800 | 813,937 | ||||||
|
Series A-1, 4.00%, 08/01/23 |
125 | 125,746 | ||||||
|
Series A-1, 5.00%, 08/01/23 |
1,590 | 1,611,116 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
Series B-1, 4.00%, 08/01/23 |
$ | 100 | $ | 100,596 | ||||
|
Series B-1, 5.00%, 11/01/23 |
100 | 101,742 | ||||||
|
Series C, 5.00%, 11/01/23 |
645 | 656,236 | ||||||
|
Series D, 5.00%, 11/01/23 |
315 | 320,488 | ||||||
|
Series E-1, 5.00%, 02/01/23 |
25 | 25,112 | ||||||
|
Series F-1, 5.00%, 02/01/23 |
365 | 366,642 | ||||||
|
Sub-Series C, 5.00%, 11/01/23 |
645 | 656,237 | ||||||
|
New York City Water & Sewer System RB |
||||||||
|
Series AA, 4.00%, 06/15/23 |
175 | 175,912 | ||||||
|
Series BB2, 4.00%, 06/15/23 |
135 | 135,773 | ||||||
|
Series DD, 5.00%, 06/15/23 |
385 | 389,347 | ||||||
|
New York Convention Center Development Corp. RB |
||||||||
|
5.00%, 11/15/23 |
25 | 25,393 | ||||||
|
Series B, 5.00%, 11/15/23 |
20 | 20,273 | ||||||
|
New York State Dormitory Authority |
||||||||
|
5.00%, 03/15/23 |
35 | 35,242 | ||||||
|
5.00%, 03/15/23 (ETM) |
240 | 241,591 | ||||||
|
New York State Dormitory Authority RB |
||||||||
|
5.00%, 07/01/23 |
100 | 101,148 | ||||||
|
Series 2015 B-A, 5.00%, 03/15/23 |
110 | 110,760 | ||||||
|
Series A, 4.00%, 03/15/23 |
60 | 60,202 | ||||||
|
Series A, 4.00%, 10/01/23 (SAW) |
240 | 241,571 | ||||||
|
Series A, 5.00%, 02/15/23 |
1,420 | 1,427,525 | ||||||
|
Series A, 5.00%, 03/15/23 |
1,360 | 1,369,401 | ||||||
|
Series A, 5.00%, 07/01/23 |
110 | 111,263 | ||||||
|
Series A, 5.00%, 10/01/23 (AGM) |
65 | 66,012 | ||||||
|
Series A, 5.00%, 10/01/23 (SAW) |
150 | 152,321 | ||||||
|
Series A, 5.00%, 02/15/36 (PR 02/15/23) |
1,000 | 1,005,276 | ||||||
|
Series A, 5.50%, 05/15/23 (NPFGC) |
205 | 207,511 | ||||||
|
Series B, 5.00%, 02/15/23 |
775 | 779,060 | ||||||
|
Series B, 5.00%, 07/01/23 |
315 | 318,721 | ||||||
|
Series B, 5.00%, 10/01/23 |
200 | 203,276 | ||||||
|
Series C, 5.00%, 03/15/23 |
3,335 | 3,358,055 | ||||||
|
Series D, 5.00%, 02/15/23 |
335 | 336,767 | ||||||
|
Series E, 5.00%, 02/15/23 |
325 | 326,729 | ||||||
|
Series E, 5.00%, 03/15/23 |
245 | 246,715 | ||||||
|
Series E, 5.00%, 10/01/23 (SAW) |
50 | 50,774 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 05/15/23 |
200 | 202,029 | ||||||
|
5.00%, 06/15/23 |
605 | 612,033 | ||||||
|
Series B, 5.00%, 06/15/23 |
110 | 111,279 | ||||||
|
Series D, 5.00%, 09/15/23 |
175 | 177,736 | ||||||
|
New York State Thruway Authority RB |
||||||||
|
Series A, 5.00%, 03/15/23 |
2,400 | 2,416,503 | ||||||
|
Series K, 5.00%, 01/01/23 |
160 | 160,449 | ||||||
|
Series L, 5.00%, 01/01/23 |
260 | 260,730 | ||||||
|
New York State Urban Development Corp. RB |
||||||||
|
Series A, 5.00%, 03/15/23 |
1,665 | 1,676,558 | ||||||
|
Series A-2, 5.00%, 03/15/23 |
175 | 176,216 | ||||||
|
Series C-1, 5.00%, 03/15/23 |
325 | 327,259 | ||||||
|
Series D, 5.00%, 03/15/23 |
805 | 810,595 | ||||||
|
Series E, 5.00%, 03/15/23 |
140 | 140,973 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
4.00%, 12/01/23 |
165 | 166,292 | ||||||
|
5.00%, 07/15/23 |
355 | 359,350 | ||||||
|
5.00%, 10/15/23 |
130 | 132,118 | ||||||
|
5.00%, 11/15/23 |
310 | 315,471 | ||||||
|
Series 179, 5.00%, 12/01/23 |
350 | 356,426 | ||||||
|
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/23 |
855 | 869,844 | ||||||
| 34 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
State of New York GO, Series A, 4.00%, 03/01/23 |
$ | 240 | $ | 240,695 | ||||
|
Town of Brookhaven NY GOL, Series A, 3.00%, 03/15/23 |
500 | 499,705 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
5.00%, 11/15/23 |
285 | 290,117 | ||||||
|
Series A, 5.00%, 11/15/23 |
140 | 142,499 | ||||||
|
Series A, 5.00%, 11/15/23 |
700 | 712,498 | ||||||
|
Series A, 5.00%, 11/15/23 (Call 05/15/23) |
100 | 100,931 | ||||||
|
Series B, 4.00%, 11/15/23 |
380 | 382,944 | ||||||
|
Series B, 5.00%, 11/15/23 |
345 | 351,159 | ||||||
|
|
|
|||||||
| 45,621,200 | ||||||||
| North Carolina — 2.4% | ||||||||
|
Cape Fear Public Utility Authority RB, Series A, 5.00%, 06/01/23 |
50 | 50,527 | ||||||
|
City of Charlotte NC COP, Series C, 5.00%, 12/01/23 |
40 | 40,760 | ||||||
|
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/23 |
2,000 | 2,024,287 | ||||||
|
City of Winston-Salem NC RB, Series C, 5.00%, 06/01/23 |
20 | 20,214 | ||||||
|
County of Buncombe NC RB |
||||||||
|
5.00%, 06/01/23 |
335 | 338,549 | ||||||
|
Series A, 5.00%, 06/01/23 |
200 | 202,119 | ||||||
|
County of Durham NC GO, 5.00%, 10/01/23 |
200 | 203,276 | ||||||
|
County of Forsyth NC GO, 5.00%, 12/01/23 |
255 | 259,763 | ||||||
|
County of Guilford NC GO, Series A, 5.00%, 05/01/23 |
685 | 691,198 | ||||||
|
County of Mecklenburg NC GO |
||||||||
|
Series A, 5.00%, 09/01/23 |
100 | 101,548 | ||||||
|
Series B, 5.00%, 12/01/23 |
65 | 66,291 | ||||||
|
County of Mecklenburg NC RB, Series A, 5.00%, 10/01/23 |
295 | 299,832 | ||||||
|
County of Union NC GO, 5.00%, 09/01/23 |
665 | 674,965 | ||||||
|
County of Wake NC GO |
||||||||
|
5.00%, 04/01/23 |
120 | 120,925 | ||||||
|
Series B, 4.00%, 05/01/23 |
125 | 125,544 | ||||||
|
Series C, 5.00%, 03/01/23 |
1,000 | 1,006,150 | ||||||
|
County of Wake NC RB |
||||||||
|
5.00%, 09/01/23 |
150 | 152,248 | ||||||
|
Series A, 5.00%, 12/01/23 |
465 | 473,935 | ||||||
|
North Carolina Medical Care Commission RB, 5.00%, 06/01/23 |
15 | 15,149 | ||||||
|
North Carolina Municipal Power Agency No. 1 RB |
||||||||
|
Series B, 5.00%, 01/01/23 |
110 | 110,323 | ||||||
|
Series E, 5.00%, 01/01/23 |
10 | 10,029 | ||||||
|
North Carolina State University at Raleigh, 5.00%, 10/01/42 (PR 10/01/23) |
1,250 | 1,269,116 | ||||||
|
North Carolina State University at Raleigh RB, Series A, |
||||||||
|
5.00%, 10/01/28 (PR 10/01/23) |
200 | 203,059 | ||||||
|
State of North Carolina, 4.00%, 05/01/23 |
540 | 542,322 | ||||||
|
State of North Carolina GO |
||||||||
|
5.00%, 06/01/23 |
65 | 65,715 | ||||||
|
Series A, 5.00%, 06/01/23 |
1,615 | 1,632,762 | ||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/23 |
720 | 724,261 | ||||||
|
Series A, 5.00%, 05/01/23 |
260 | 262,391 | ||||||
|
Series C, 5.00%, 05/01/23 |
155 | 156,425 | ||||||
|
|
|
|||||||
| 11,843,683 | ||||||||
| North Dakota — 0.0% | ||||||||
|
North Dakota Public Finance Authority RB, Series A, 5.00%, 10/01/23 |
105 | 106,720 | ||||||
|
|
|
|||||||
|
Ohio — 3.5% |
||||||||
|
City of Cincinnati OH Water System Revenue RB, Series B, 5.00%, 12/01/23 |
190 | 193,651 | ||||||
| Security | Par (000) |
Value | ||||||
| Ohio (continued) | ||||||||
|
City of Columbus OH GO |
||||||||
|
5.00%, 07/01/30 (PR 07/01/23) |
$ | 1,250 | $ | 1,265,014 | ||||
|
Series 1, 5.00%, 07/01/23 |
175 | 177,160 | ||||||
|
Series 2017-1, 4.00%, 04/01/23 |
565 | 567,122 | ||||||
|
Series 5, 5.00%, 08/15/23 |
270 | 273,906 | ||||||
|
Series A, 4.00%, 07/01/23 |
25 | 25,146 | ||||||
|
Series A, 5.00%, 02/15/23 |
260 | 261,406 | ||||||
|
Series A, 5.00%, 04/01/23 |
170 | 171,331 | ||||||
|
Series A, 5.00%, 08/15/23 |
130 | 131,881 | ||||||
|
Series A, 5.00%, 08/15/28 (PR 08/15/23) |
225 | 228,178 | ||||||
|
City of Columbus OH GOL, Series B, 5.00%, 08/15/23 |
270 | 273,906 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/23 |
135 | 137,536 | ||||||
|
County of Hamilton OH Sewer System Revenue RB, Series A, 5.00%, 12/01/23 |
320 | 325,977 | ||||||
|
Miami University/Oxford OH RB, 5.00%, 09/01/23 |
165 | 167,296 | ||||||
|
Northeast Ohio Regional Sewer District RB, 5.00%, 11/15/28 (PR 05/15/23) |
625 | 631,153 | ||||||
|
Ohio Higher Educational Facility Commission RB |
||||||||
|
5.00%, 12/01/23 |
110 | 111,996 | ||||||
|
5.00%, 12/01/23 (ETM) |
45 | 45,759 | ||||||
|
Series A, 5.00%, 12/01/23 |
165 | 167,994 | ||||||
|
Ohio State University (The) RB |
||||||||
|
5.00%, 12/01/23 |
610 | 621,786 | ||||||
|
Series A, 5.00%, 12/01/23 |
395 | 402,632 | ||||||
|
Ohio Turnpike & Infrastructure Commission RB |
||||||||
|
Series A, 5.00%, 02/15/23 |
425 | 427,176 | ||||||
|
Series A, 5.00%, 02/15/48 (PR 02/15/23) |
2,030 | 2,040,709 | ||||||
|
Series A-1, 5.00%, 02/15/23 |
290 | 291,426 | ||||||
|
Ohio University RB, Series A, 5.00%, 12/01/23 |
120 | 122,113 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 12/01/23 |
615 | 626,817 | ||||||
|
Series A, 5.00%, 06/01/23 |
205 | 207,195 | ||||||
|
Series B, 5.00%, 12/01/23 |
130 | 132,498 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
|
5.00%, 06/01/23 |
180 | 181,928 | ||||||
|
5.00%, 12/01/23 |
255 | 259,900 | ||||||
|
5.50%, 06/01/23 |
235 | 238,187 | ||||||
|
5.50%, 12/01/23 |
150 | 153,672 | ||||||
|
Series 2015-A, 5.00%, 12/01/23 |
500 | 509,607 | ||||||
|
State of Ohio Department of Administrative Services COP, 5.00%, 09/01/23 |
275 | 278,894 | ||||||
|
State of Ohio GO |
||||||||
|
Series A, 5.00%, 03/01/23 |
155 | 155,979 | ||||||
|
Series A, 5.00%, 03/15/23 |
135 | 135,953 | ||||||
|
Series A, 5.00%, 05/01/23 |
370 | 373,512 | ||||||
|
Series A, 5.00%, 08/01/23 |
345 | 349,813 | ||||||
|
Series A, 5.00%, 09/01/23 |
500 | 507,699 | ||||||
|
Series A, 5.00%, 09/15/23 |
270 | 274,337 | ||||||
|
Series B, 4.00%, 09/01/23 |
200 | 201,454 | ||||||
|
Series B, 5.00%, 08/01/23 |
185 | 187,581 | ||||||
|
Series C, 5.00%, 09/01/23 |
90 | 91,386 | ||||||
|
Series C, 5.00%, 11/01/23 |
110 | 112,014 | ||||||
|
Series S, 5.00%, 04/01/23 |
50 | 50,396 | ||||||
|
Series S, 5.00%, 05/01/23 |
165 | 166,517 | ||||||
|
Series T, 5.00%, 11/01/23 |
150 | 152,658 | ||||||
|
Series V, 5.00%, 05/01/23 |
500 | 504,598 | ||||||
|
Series W, 4.00%, 05/01/23 |
150 | 150,645 | ||||||
|
State of Ohio GOL, Series A, 5.00%, 09/01/23 |
115 | 116,771 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
35 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Ohio (continued) | ||||||||
|
State of Ohio RB |
||||||||
|
5.00%, 01/01/23 |
$ | 1,000 | $ | 1,002,725 | ||||
|
5.00%, 10/01/23 (ETM) |
125 | 127,025 | ||||||
|
Series A, 5.00%, 02/01/23 |
100 | 100,435 | ||||||
|
Series A, 5.00%, 04/01/23 |
230 | 231,678 | ||||||
|
Series C, 5.00%, 12/01/23 |
440 | 447,984 | ||||||
|
|
|
|||||||
| 17,092,112 | ||||||||
| Oklahoma — 0.7% | ||||||||
|
City of Oklahoma City OK GO, 5.00%, 03/01/23 |
215 | 216,287 | ||||||
|
Grand River Dam Authority RB, Series A, 5.00%, 06/01/23 |
840 | 848,657 | ||||||
|
Oklahoma Agricultural & Mechanical Colleges RB, Series C, 5.00%, 08/01/23 |
130 | 131,746 | ||||||
|
Oklahoma Capitol Improvement Authority RB |
||||||||
|
5.00%, 07/01/23 |
315 | 318,825 | ||||||
|
Series A, 5.00%, 01/01/23 |
45 | 45,137 | ||||||
|
Series A, 5.00%, 07/01/23 |
140 | 141,700 | ||||||
|
Series B, 5.00%, 07/01/23 |
225 | 227,732 | ||||||
|
Series C, 5.00%, 01/01/23 |
100 | 100,306 | ||||||
|
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/23 |
180 | 182,162 | ||||||
|
Oklahoma Turnpike Authority RB, Series D, 4.00%, 01/01/23 |
180 | 180,227 | ||||||
|
Oklahoma Water Resources Board RB |
||||||||
|
4.00%, 10/01/23 |
425 | 428,165 | ||||||
|
5.00%, 04/01/23 |
335 | 337,582 | ||||||
|
Series A, 5.00%, 04/01/23 |
135 | 136,029 | ||||||
|
|
|
|||||||
| 3,294,555 | ||||||||
| Oregon — 1.9% | ||||||||
|
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/23 |
225 | 227,971 | ||||||
|
City of Portland OR Sewer System Revenue RB |
||||||||
|
Series A, 5.00%, 03/01/23 |
500 | 502,992 | ||||||
|
Series A, 5.00%, 10/01/23 |
90 | 91,433 | ||||||
|
Series B, 5.00%, 06/15/23 |
1,205 | 1,218,339 | ||||||
|
Series B, 5.00%, 10/01/23 |
115 | 116,832 | ||||||
|
City of Portland OR Water System Revenue RB, Series A, 5.00%, 04/01/23 |
220 | 221,650 | ||||||
|
City of Salem OR GO, 5.00%, 06/01/23 |
100 | 101,071 | ||||||
|
City of Salem OR Water & Sewer Revenue RB, 5.00%, 06/01/23 |
75 | 75,803 | ||||||
|
Deschutes & Jefferson Counties School District No. 2J Redmond/OR GO, 0.00%, 06/15/23 (GTD)(a) |
45 | 44,044 | ||||||
|
Multnomah County School District No. 1 Portland/OR GO, 5.00%, 06/15/23 (GTD) |
460 | 465,036 | ||||||
|
Oregon State Business Development Commission RB, Series 232, VRDN, 2.40%, 12/01/40 Put(b) |
350 | 345,063 | ||||||
|
Oregon State Lottery RB |
||||||||
|
Series A, 5.00%, 04/01/23 |
400 | 403,000 | ||||||
|
Series B, 5.00%, 04/01/23 |
135 | 136,013 | ||||||
|
Series C, 5.00%, 04/01/23 |
145 | 146,088 | ||||||
|
Port of Portland OR Airport Revenue RB, Series 23, 5.00%, 07/01/23 |
175 | 177,010 | ||||||
|
Portland Community College District GO, 5.00%, 06/15/23 |
255 | 257,901 | ||||||
|
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/23 (GTD)(a) |
150 | 146,868 | ||||||
|
State of Oregon Department of Transportation RB |
||||||||
|
Series C, 5.00%, 11/15/23 |
160 | 162,955 | ||||||
|
Series A, 4.25%, 11/15/34 (PR 11/15/23) |
850 | 858,835 | ||||||
|
Series A, 5.00%, 11/15/23 |
795 | 809,682 | ||||||
|
Series A, 5.00%, 11/15/29 (PR 11/15/23) |
1,000 | 1,018,283 | ||||||
| Security | Par (000) |
Value | ||||||
| Oregon (continued) | ||||||||
|
State of Oregon GO |
||||||||
|
Series A, 5.00%, 08/01/23 |
$ | 50 | $ | 50,683 | ||||
|
Series C, 5.00%, 06/01/23 |
100 | 101,077 | ||||||
|
Series D, 5.00%, 05/01/23 |
295 | 297,742 | ||||||
|
Series F, 5.00%, 05/01/23 |
100 | 100,930 | ||||||
|
Series G, 5.00%, 11/01/23 |
45 | 45,806 | ||||||
|
Series H, 5.00%, 05/01/23 |
495 | 499,601 | ||||||
|
Series L, 5.00%, 08/01/23 |
460 | 466,280 | ||||||
|
Series O, 5.00%, 08/01/23 |
70 | 70,956 | ||||||
|
Tri-County Metropolitan Transportation District of Oregon RB, Series B, 5.00%, 09/01/23 |
20 | 20,300 | ||||||
|
Washington County Clean Water Services, 5.00%, 10/01/23 |
310 | 315,049 | ||||||
|
|
|
|||||||
| 9,495,293 | ||||||||
| Pennsylvania — 2.3% | ||||||||
|
City of Philadelphia PA GO |
||||||||
|
5.00%, 08/01/23 |
650 | 658,295 | ||||||
|
Series A, 5.00%, 08/01/23 |
115 | 116,467 | ||||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
First Series, 5.00%, 01/01/23 |
550 | 551,636 | ||||||
|
First Series, 5.00%, 02/01/23 |
110 | 110,492 | ||||||
|
First Series, 5.00%, 03/01/23 |
265 | 266,586 | ||||||
|
First Series, 5.00%, 03/15/23 |
200 | 201,338 | ||||||
|
First Series, 5.00%, 04/01/23 |
185 | 186,388 | ||||||
|
First Series, 5.00%, 06/15/23 |
160 | 161,771 | ||||||
|
First Series, 5.00%, 08/15/23 |
3,040 | 3,082,086 | ||||||
|
First Series, 5.00%, 09/15/23 |
290 | 294,409 | ||||||
|
First Series, 5.00%, 04/01/24 (PR 04/01/23) |
350 | 352,669 | ||||||
|
Second Series, 5.00%, 09/15/23 |
340 | 345,169 | ||||||
|
Second Series, 5.00%, 10/15/23 |
570 | 579,449 | ||||||
|
County of Lehigh PA GO, 4.00%, 11/15/23 |
650 | 654,969 | ||||||
|
Delaware County Authority, 5.00%, 08/01/23 |
105 | 106,348 | ||||||
|
Delaware County Authority RB |
||||||||
|
5.00%, 08/01/23 |
110 | 111,412 | ||||||
|
5.00%, 12/01/23 |
75 | 76,361 | ||||||
|
Pennsylvania Intergovernmental Cooperation Authority ST, 5.00%, 06/15/23 |
225 | 227,518 | ||||||
|
Pennsylvania State University (The) RB, Series B, 5.00%, 09/01/23 |
225 | 228,316 | ||||||
|
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Series A, 5.00%, 12/01/23 |
180 | 183,170 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
5.00%, 12/01/23 |
765 | 778,391 | ||||||
|
Series A, 5.00%, 12/01/23 |
335 | 340,864 | ||||||
|
Series A, 5.25%, 07/15/23 (AGM) |
175 | 177,544 | ||||||
|
Series A-1, 5.00%, 12/01/23 |
225 | 228,938 | ||||||
|
Series B, 5.00%, 12/01/23 |
35 | 35,560 | ||||||
|
Series C, 5.00%, 12/01/43 (PR 12/01/23) |
1,200 | 1,222,159 | ||||||
|
Southeastern Pennsylvania Transportation Authority RB, 5.00%, 06/01/23 |
120 | 121,181 | ||||||
|
|
|
|||||||
| 11,399,486 | ||||||||
| Rhode Island — 0.8% | ||||||||
|
Rhode Island Commerce Corp. RB, Series A, 5.00%, 06/15/23 |
485 | 489,474 | ||||||
|
Rhode Island Health & Educational Building Corp. RB, 5.00%, 09/01/23 |
215 | 218,186 | ||||||
|
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB |
||||||||
|
Series A, 5.00%, 10/01/23 |
295 | 299,832 | ||||||
|
Series B, 5.00%, 10/01/23 |
525 | 533,599 | ||||||
|
Series C, 5.00%, 10/01/23 |
25 | 25,410 | ||||||
| 36 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Rhode Island (continued) | ||||||||
|
State of Rhode Island, 5.00%, 10/15/24 (PR 10/15/23) |
$ | 525 | $ | 533,867 | ||||
|
State of Rhode Island COP, Series B, 5.00%, 10/01/23 |
145 | 147,204 | ||||||
|
State of Rhode Island GO |
||||||||
|
5.00%, 11/01/23 |
50 | 50,896 | ||||||
|
Series A, 3.00%, 08/01/23 |
500 | 499,271 | ||||||
|
Series A, 5.00%, 05/01/23 |
150 | 151,394 | ||||||
|
Series D, 5.00%, 08/01/23 |
585 | 592,987 | ||||||
|
Series A, 5.00%, 08/01/23 |
120 | 121,638 | ||||||
|
|
|
|||||||
| 3,663,758 | ||||||||
| South Carolina — 0.5% | ||||||||
|
Beaufort County School District/SC GO, 5.00%, 03/01/23 (SCSDE) |
1,000 | 1,005,885 | ||||||
|
Charleston County School District, 5.00%, 02/01/23 (SCSDE) |
200 | 200,920 | ||||||
|
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/23 |
120 | 122,306 | ||||||
|
Clemson University RB, 5.00%, 05/01/23 |
140 | 141,218 | ||||||
|
South Carolina Transportation Infrastructure Bank RB |
||||||||
|
5.00%, 10/01/23 |
310 | 314,937 | ||||||
|
Series A, 5.00%, 10/01/23 |
245 | 248,902 | ||||||
|
State of South Carolina GO |
||||||||
|
Series A, 5.00%, 04/01/23 (SAW) |
295 | 297,249 | ||||||
|
Series A, 5.00%, 08/01/23 (SAW) |
200 | 202,686 | ||||||
|
|
|
|||||||
| 2,534,103 | ||||||||
| Tennessee — 1.7% | ||||||||
|
City of Memphis TN GO |
||||||||
|
5.00%, 05/01/23 |
370 | 373,311 | ||||||
|
Series A, 5.00%, 11/01/23 |
135 | 137,325 | ||||||
|
County of Blount TN GO, Series B, 5.00%, 06/01/23 |
260 | 262,634 | ||||||
|
County of Hamilton TN GO, Series A, 5.00%, 05/01/23 |
260 | 262,494 | ||||||
|
County of Knox TN GO |
||||||||
|
5.00%, 04/01/23 |
50 | 50,385 | ||||||
|
5.00%, 06/01/23 |
175 | 176,874 | ||||||
|
County of Shelby TN GO |
||||||||
|
Series A, 4.00%, 03/01/23 |
260 | 260,641 | ||||||
|
Series A, 5.00%, 03/01/23 |
160 | 160,915 | ||||||
|
County of Sumner TN GO, 5.00%, 12/01/23 |
70 | 71,308 | ||||||
|
County of Washington TN GO, Series A, 4.00%, 06/01/23 |
95 | 95,443 | ||||||
|
County of Williamson TN GO, 5.00%, 04/01/23 |
70 | 70,534 | ||||||
|
Metropolitan Government Nashville & Davidson County Sports Authority RB, 5.00%, 07/01/23 |
105 | 106,033 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/23 |
215 | 217,123 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
5.00%, 07/01/23 |
1,405 | 1,421,969 | ||||||
|
Series A, 5.00%, 07/01/23 |
400 | 404,831 | ||||||
|
Series A, 5.00%, 01/01/29 (PR 01/01/23) |
60 | 60,182 | ||||||
|
Series A, 5.00%, 01/01/33 (PR 01/01/23) |
1,250 | 1,253,780 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB |
||||||||
|
5.00%, 07/01/23 |
70 | 70,846 | ||||||
|
Series B, 5.00%, 07/01/23 |
100 | 101,208 | ||||||
|
State of Tennessee GO |
||||||||
|
Series A, 5.00%, 08/01/23 |
870 | 882,136 | ||||||
|
Series A, 5.00%, 09/01/23 |
250 | 253,849 | ||||||
|
Series B, 5.00%, 08/01/23 |
140 | 141,953 | ||||||
|
Tennessee State School Bond Authority, 5.00%, 11/01/23 (ST INTERCEPT) |
300 | 305,236 | ||||||
| Security | Par (000) |
Value | ||||||
| Tennessee (continued) | ||||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
5.00%, 11/01/23 |
$ | 375 | $ | 381,792 | ||||
|
Series A, 5.00%, 11/01/23 |
240 | 244,347 | ||||||
|
Series B, 5.00%, 11/01/23 |
660 | 671,955 | ||||||
|
|
|
|||||||
| 8,439,104 | ||||||||
| Texas — 10.1% | ||||||||
|
Abilene Independent School District GO, 5.00%, 02/15/23 (PSF) |
175 | 175,931 | ||||||
|
Aldine Independent School District GO, 5.00%, 02/15/23 (PSF) |
135 | 135,711 | ||||||
|
Allen Independent School District GO, 5.00%, 02/15/23 (PSF) |
225 | 226,165 | ||||||
|
Alvin Independent School District/TX GO, Series C, 5.00%, 02/15/23 (PSF) |
235 | 236,244 | ||||||
|
Arlington Independent School District/TX GO, Series B, 5.00%, 02/15/23 (PSF) |
385 | 387,049 | ||||||
|
Austin Community College District GOL, 5.00%, 08/01/23 |
1,290 | 1,306,749 | ||||||
|
Austin Community College District Public Facility Corp. RB, 5.00%, 08/01/23 |
100 | 101,298 | ||||||
|
Austin Independent School District GO |
||||||||
|
5.00%, 08/01/23 (PSF) |
550 | 557,264 | ||||||
|
Series B, 5.00%, 08/01/23 |
460 | 465,870 | ||||||
|
Series B, 5.00%, 08/01/23 (PSF) |
190 | 192,467 | ||||||
|
Birdville Independent School District GO |
||||||||
|
5.00%, 02/15/23 (PSF) |
45 | 45,236 | ||||||
|
Series B, 5.00%, 02/15/23 (PSF) |
40 | 40,209 | ||||||
|
Board of Regents of the University of Texas System RB |
||||||||
|
Series A, 5.00%, 08/15/23 |
240 | 243,491 | ||||||
|
Series I, 5.00%, 08/15/23 |
375 | 380,455 | ||||||
|
Series J, 5.00%, 08/15/23 |
610 | 618,874 | ||||||
|
Bryan Independent School District GO, 4.00%, 02/15/23 (PSF) |
250 | 250,626 | ||||||
|
Central Texas Regional Mobility Authority RB, Series A, 5.00%, 01/01/23 |
100 | 100,267 | ||||||
|
Central Texas Turnpike System, 0.00%, 08/15/23 (AMBAC)(a) |
705 | 686,982 | ||||||
|
Central Texas Turnpike System RB |
||||||||
|
Series A, 0.00%, 08/15/23 (AMBAC)(a) |
250 | 243,055 | ||||||
|
Series C, 5.00%, 08/15/23 |
660 | 668,365 | ||||||
|
City of Austin TX Electric Utility Revenue RB, Series A, 5.00%, 11/15/23 |
235 | 238,739 | ||||||
|
City of Austin TX GOL, 5.00%, 09/01/23 |
1,560 | 1,583,376 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB |
||||||||
|
5.00%, 05/15/23 |
40 | 40,404 | ||||||
|
5.00%, 11/15/23 |
1,015 | 1,033,392 | ||||||
|
Series A, 5.00%, 05/15/23 |
145 | 146,463 | ||||||
|
Series A, 5.00%, 11/15/23 |
375 | 381,849 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB, Series A, 5.00%, 10/01/23 |
100 | 101,565 | ||||||
|
City of Denton TX GOL, 5.00%, 02/15/23 |
115 | 115,585 | ||||||
|
City of Fort Worth TX GOL, 5.00%, 03/01/23 |
785 | 789,698 | ||||||
|
City of Fort Worth TX Water & Sewer System Revenue RB, Series A, 5.00%, 02/15/23 |
165 | 165,859 | ||||||
|
City of Garland TX GOL, 5.00%, 02/15/23 |
165 | 165,840 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
5.00%, 11/15/23 |
140 | 142,499 | ||||||
|
Series B, 5.00%, 11/15/23 |
140 | 142,500 | ||||||
|
Series C, 5.00%, 05/15/23 |
355 | 358,412 | ||||||
|
Series D, 5.00%, 11/15/23 |
200 | 203,570 | ||||||
|
Serries C, 5.00%, 11/15/23 |
310 | 315,535 | ||||||
|
City of Houston TX GOL, Series A, 5.00%, 03/01/23 |
135 | 135,803 | ||||||
|
City of Lubbock TX GOL, 5.00%, 02/15/23 |
110 | 110,554 | ||||||
|
City of Plano TX GOL, 5.00%, 09/01/23 |
180 | 182,682 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
37 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
City of Round Rock TX GOL, 5.00%, 08/15/23 |
$ | 75 | $ | 76,056 | ||||
|
City of San Antonio Texas Electric & Gas Systems Revenue RB, Series REF, 5.00%, 02/01/23 |
175 | 175,787 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
|
5.00%, 02/01/23 |
505 | 507,272 | ||||||
|
5.00%, 02/01/23 (ETM) |
675 | 678,071 | ||||||
|
City of San Antonio TX GOL, 5.00%, 02/01/23 |
520 | 522,392 | ||||||
|
City of Waco TX GOL, 5.00%, 02/01/23 |
75 | 75,337 | ||||||
|
Clear Creek Independent School District GO, 5.00%, 02/15/23 (PSF) |
140 | 140,709 | ||||||
|
Conroe Independent School District GO |
||||||||
|
5.00%, 02/15/23 (PSF) |
225 | 226,165 | ||||||
|
Series A, 5.00%, 02/15/23 (PSF) |
165 | 165,854 | ||||||
|
County of Bexar TX GOL, 5.00%, 06/15/23 |
705 | 712,891 | ||||||
|
County of Harris TX GOL, Series A, 5.00%, 10/01/23 |
90 | 91,433 | ||||||
|
County of Harris TX RB |
||||||||
|
5.00%, 08/15/23 |
275 | 278,764 | ||||||
|
Series A, 5.00%, 08/15/23 |
300 | 304,106 | ||||||
|
Cuero Independent School District GO, 5.00%, 08/15/30 (PR 08/15/23) (PSF) |
540 | 547,205 | ||||||
|
Cypress-Fairbanks Independent School District GO |
||||||||
|
5.00%, 02/15/23 (PSF) |
790 | 794,136 | ||||||
|
Series A, 5.00%, 02/15/23 (PSF) |
35 | 35,183 | ||||||
|
Dallas Area Rapid Transit RB |
||||||||
|
5.00%, 12/01/23 |
150 | 152,866 | ||||||
|
Series A, 5.00%, 12/01/23 |
355 | 361,783 | ||||||
|
Dallas Independent School District GO, 5.00%, 08/15/23 (PSF) |
100 | 101,408 | ||||||
|
Dallas/Fort Worth International Airport RB |
||||||||
|
5.00%, 11/01/23 |
200 | 202,913 | ||||||
|
Series G, 5.00%, 11/01/23 |
160 | 162,331 | ||||||
|
Denton Independent School District GO, 5.00%, 08/15/23 (PSF) |
100 | 101,416 | ||||||
|
Fort Bend Independent School District GO, Series A, 5.00%, 08/15/23 (PSF) |
135 | 136,858 | ||||||
|
Frisco Independent School District GO, Series A, 5.00%, 08/15/23 (PSF) |
80 | 81,145 | ||||||
|
Garland Independent School District GO, 5.00%, 02/15/23 (PSF) |
255 | 256,357 | ||||||
|
Goose Creek Consolidated Independent School District GO, 5.00%, 02/15/28 (PR 02/15/23) (PSF) |
900 | 904,748 | ||||||
|
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/23 (PSF)(a) |
100 | 97,387 | ||||||
|
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/23 |
385 | 390,270 | ||||||
|
Houston Community College System GOL, 5.00%, 02/15/23 |
270 | 271,437 | ||||||
|
Houston Independent School District GOL |
||||||||
|
5.00%, 02/15/23 (PSF) |
350 | 351,832 | ||||||
|
Series A, 5.00%, 02/15/23 (PSF) |
185 | 185,968 | ||||||
|
Humble Independent School District GO, Series B, 5.00%, 02/15/23 (PSF) |
50 | 50,266 | ||||||
|
Katy Independent School District GO |
||||||||
|
5.00%, 02/15/23 (PSF) |
95 | 95,495 | ||||||
|
Series A, 5.00%, 02/15/23 (PSF) |
370 | 371,926 | ||||||
|
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/23 (PSF) |
50 | 50,257 | ||||||
|
Killeen Independent School District GO, 5.00%, 02/15/23 (PSF) |
180 | 180,958 | ||||||
|
Klein Independent School District GO |
||||||||
|
5.00%, 02/01/23 (PSF) |
150 | 150,656 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Series A, 5.00%, 08/01/23 (PSF) |
$ | 390 | $ | 395,035 | ||||
|
Laredo Independent School District GO, 5.00%, 08/01/23 (PSF) |
25 | 25,308 | ||||||
|
Leander Independent School District GO |
||||||||
|
0.00%, 08/15/23 (PSF)(a) |
240 | 233,711 | ||||||
|
5.00%, 08/15/23 (PSF) |
20 | 20,289 | ||||||
|
Series A, 5.00%, 08/15/23 (PSF) |
85 | 86,230 | ||||||
|
Series A, 0.00%, 08/15/23 (PSF)(a) |
50 | 48,666 | ||||||
|
Series B, 5.00%, 08/15/23 |
75 | 76,068 | ||||||
|
Series D, 0.00%, 08/15/23 (PSF)(a) |
95 | 92,511 | ||||||
|
Lewisville Independent School District GO |
||||||||
|
5.00%, 08/15/23 |
200 | 202,691 | ||||||
|
5.00%, 08/15/23 (PSF) |
800 | 810,763 | ||||||
|
Series A, 4.00%, 08/15/23 (PSF) |
35 | 35,202 | ||||||
|
Series A, 5.00%, 08/15/23 (PSF) |
170 | 172,287 | ||||||
|
Series B, 5.00%, 08/15/23 |
115 | 116,547 | ||||||
|
Lone Star College System GOL, Series B, 5.00%, 02/15/23 |
335 | 336,754 | ||||||
|
Lower Colorado River Authority RB |
||||||||
|
5.00%, 05/15/23 |
320 | 322,854 | ||||||
|
Series B, 5.00%, 05/15/23 |
355 | 358,166 | ||||||
|
Magnolia Independent School District/TX GO, 5.00%, 08/15/23 (PSF) |
90 | 91,267 | ||||||
|
Manor Independent School District GO, 5.00%, 08/01/23 (PSF) |
100 | 101,269 | ||||||
|
Metropolitan Transit Authority of Harris County RB |
||||||||
|
5.00%, 11/01/23 |
365 | 371,323 | ||||||
|
Series A, 5.00%, 11/01/23 |
375 | 381,496 | ||||||
|
Series B, 5.00%, 11/01/23 |
415 | 422,189 | ||||||
|
North East Independent School District/TX GO |
||||||||
|
5.00%, 08/01/23 (PSF) |
730 | 739,479 | ||||||
|
5.25%, 02/01/23 (PSF) |
220 | 221,102 | ||||||
|
Series B, 5.00%, 02/01/23 (PSF) |
175 | 175,770 | ||||||
|
North Texas Municipal Water District RB |
||||||||
|
5.00%, 06/01/23 |
305 | 308,178 | ||||||
|
6.25%, 06/01/23 |
75 | 76,316 | ||||||
|
North Texas Municipal Water District Water System Revenue, 4.00%, 09/01/23 |
640 | 644,075 | ||||||
|
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/23 |
560 | 568,115 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
5.00%, 01/01/23 |
400 | 401,184 | ||||||
|
5.00%, 01/01/23 (ETM) |
190 | 190,568 | ||||||
|
Series A, 5.00%, 01/01/23 |
570 | 571,695 | ||||||
|
Series B, 5.00%, 01/01/23 |
280 | 280,819 | ||||||
|
Northside Independent School District GO |
||||||||
|
3.00%, 08/15/23 (PSF) |
115 | 114,736 | ||||||
|
5.00%, 06/15/23 (PSF) |
25 | 25,277 | ||||||
|
5.00%, 08/01/23 (PSF) |
75 | 75,991 | ||||||
|
5.00%, 08/15/23 (PSF) |
390 | 395,399 | ||||||
|
Series A, 5.00%, 08/15/23 (PSF) |
85 | 86,177 | ||||||
|
Northwest Independent School District GO |
||||||||
|
Series A, 5.00%, 02/15/23 (PSF) |
200 | 201,012 | ||||||
|
Series B, 5.00%, 02/15/23 (PSF) |
120 | 120,607 | ||||||
|
Pasadena Independent School District GO, 5.00%, 02/15/23 (PSF) |
95 | 95,478 | ||||||
|
Permanent University Fund - Texas A&M University System RB |
||||||||
|
5.00%, 07/01/23 |
200 | 202,429 | ||||||
|
Series A, 5.00%, 07/01/23 |
170 | 172,064 | ||||||
|
Series A, 5.25%, 07/01/23 |
195 | 197,685 | ||||||
| 38 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Permanent University Fund - University of Texas System RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
$ | 50 | $ | 50,611 | ||||
|
Series B, 5.00%, 07/01/23 |
140 | 141,672 | ||||||
|
Plano Independent School District GO, 5.00%, 02/15/23 (PSF) |
385 | 387,048 | ||||||
|
Prosper Independent School District GO, 5.00%, 02/15/23 (PSF) |
175 | 175,881 | ||||||
|
Round Rock Independent School District GO, 5.00%, 08/01/23 (PSF) |
1,715 | 1,738,158 | ||||||
|
San Angelo Independent School District GO, Series A, 5.00%, 02/15/23 (PSF) |
190 | 190,973 | ||||||
|
San Antonio Water System, 5.00%, 05/15/23 |
260 | 262,485 | ||||||
|
San Antonio Water System RB |
||||||||
|
Series A, 5.00%, 05/15/23 |
245 | 247,342 | ||||||
|
Series B, 5.00%, 05/15/23 |
160 | 161,529 | ||||||
|
Southwest Higher Education Authority Inc. RB, 5.00%, 10/01/23 |
100 | 101,457 | ||||||
|
Spring Branch Independent School District GOL, Series A, 5.00%, 02/01/23 (PSF) |
185 | 185,842 | ||||||
|
Spring Independent School District GO, 5.00%, 08/15/23 (PSF) |
420 | 425,749 | ||||||
|
State of Texas GO |
||||||||
|
5.00%, 04/01/23 |
150 | 151,156 | ||||||
|
5.00%, 08/01/23 |
150 | 152,037 | ||||||
|
5.00%, 10/01/23 |
1,005 | 1,021,461 | ||||||
|
Series A, 5.00%, 10/01/23 |
120 | 121,966 | ||||||
|
Series A, 5.00%, 10/01/23 |
540 | 548,845 | ||||||
|
Series B-1, 5.00%, 08/01/23 |
100 | 101,358 | ||||||
|
Series D, 5.00%, 05/15/23 |
100 | 100,993 | ||||||
|
Series I, 5.00%, 04/01/23 |
115 | 115,886 | ||||||
|
State of Texas GOL, Series A, 5.00%, 08/01/23 |
175 | 177,376 | ||||||
|
Tarrant County Cultural Education Facilities Finance Corp. RB |
||||||||
|
5.00%, 08/15/23 |
100 | 101,373 | ||||||
|
5.00%, 12/01/23 |
40 | 40,662 | ||||||
|
Tarrant Regional Water District RB, 6.00%, 09/01/23 |
200 | 204,523 | ||||||
|
Tarrant Regional Water District Water Supply System RB |
||||||||
|
5.00%, 03/01/23 |
410 | 412,426 | ||||||
|
Series A, 5.00%, 03/01/23 |
145 | 145,858 | ||||||
|
Texas A&M University RB |
||||||||
|
5.00%, 05/15/23 |
805 | 812,994 | ||||||
|
Series B, 5.00%, 05/15/23 |
180 | 181,787 | ||||||
|
Series D, 5.00%, 05/15/23 |
35 | 35,348 | ||||||
|
Series E, 5.00%, 05/15/23 |
210 | 212,085 | ||||||
|
Texas A&M University Revenue RB, 5.00%, 05/15/37 (PR 05/15/23) |
710 | 716,990 | ||||||
|
Texas State Technical College RB, 5.00%, 10/15/23 |
20 | 20,333 | ||||||
|
Texas State University System RB |
||||||||
|
5.00%, 03/15/23 |
170 | 171,188 | ||||||
|
Series A, 5.00%, 03/15/23 |
1,300 | 1,309,083 | ||||||
|
Texas Transportation Commission State Highway Fund RB |
||||||||
|
First Series, 5.00%, 10/01/23 |
630 | 640,319 | ||||||
|
Series A, 5.00%, 04/01/23 |
160 | 161,233 | ||||||
|
Series A, 5.00%, 10/01/23 |
170 | 172,784 | ||||||
|
Texas Water Development Board RB |
||||||||
|
5.00%, 04/15/23 |
125 | 126,059 | ||||||
|
5.00%, 08/01/23 |
125 | 126,707 | ||||||
|
Series A, 5.00%, 04/15/23 |
715 | 721,055 | ||||||
|
Series A, 5.00%, 10/15/23 |
250 | 254,286 | ||||||
|
Series B, 5.00%, 10/15/23 |
200 | 203,429 | ||||||
|
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/23 |
75 | 75,985 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Trinity River Authority RB, 5.00%, 02/01/23 |
$ | 155 | $ | 155,678 | ||||
|
Tyler Independent School District GO, 5.00%, 02/15/38 (PR 02/15/23) (PSF) |
1,000 | 1,004,988 | ||||||
|
United Independent School District GO, 5.00%, 08/15/23 (PSF) |
25 | 25,342 | ||||||
|
University of Houston RB, 4.00%, 02/15/23 |
85 | 85,159 | ||||||
|
University of North Texas System RB, Series A, 5.00%, 04/15/23 |
100 | 100,842 | ||||||
|
University of Texas System (The) RB |
||||||||
|
Series C, 5.00%, 08/15/23 |
375 | 380,455 | ||||||
|
Series D, 5.00%, 08/15/23 |
460 | 466,692 | ||||||
|
Series H, 5.00%, 08/15/23 |
25 | 25,364 | ||||||
|
|
|
|||||||
| 49,621,905 | ||||||||
| Utah — 1.4% | ||||||||
|
Alpine School District/UT GO, 5.00%, 03/15/23 (GTD) |
375 | 377,509 | ||||||
|
Central Utah Water Conservancy District RB, Series A, 5.00%, 10/01/23 |
110 | 111,802 | ||||||
|
City of Salt Lake City UT Public Utilities Revenue RB, 5.00%, 02/01/23 |
100 | 100,467 | ||||||
|
County of Salt Lake UT RB, 5.00%, 08/15/30 (PR 08/15/23) |
1,750 | 1,774,716 | ||||||
|
Davis School District GO, 5.00%, 06/01/23 (GTD) |
270 | 272,892 | ||||||
|
Intermountain Power Agency RB, Series A, 5.00%, 07/01/23 |
280 | 282,902 | ||||||
|
Jordan Valley Water Conservancy District RB, Series B, 5.00%, 10/01/23 |
75 | 76,228 | ||||||
|
State of Utah GO, 5.00%, 07/01/23 |
40 | 40,491 | ||||||
|
University of Utah (The) RB |
||||||||
|
Series A, 5.00%, 08/01/23 (SAP) |
350 | 354,882 | ||||||
|
Series B, 5.00%, 08/01/23 |
175 | 177,441 | ||||||
|
Series B, 5.00%, 08/01/27 (PR 08/01/23) |
1,075 | 1,089,037 | ||||||
|
Series B, 5.00%, 08/01/28 (PR 08/01/23) |
565 | 572,378 | ||||||
|
Series B-1, 5.00%, 08/01/23 |
205 | 207,860 | ||||||
|
Utah Associated Municipal Power Systems RB, Series A, 5.00%, 09/01/23 |
620 | 628,371 | ||||||
|
Utah State Building Ownership Authority RB, 5.00%, 05/15/23 |
405 | 409,000 | ||||||
|
Utah Transit Authority RB, Series A, 5.00%, 06/15/23 |
245 | 247,803 | ||||||
|
Washington County School District Board of Education/St George GO, 5.00%, 03/01/23 (GTD) |
110 | 110,655 | ||||||
|
|
|
|||||||
| 6,834,434 | ||||||||
| Vermont — 0.0% | ||||||||
|
State of Vermont GO, Series B, 5.00%, 08/15/23 |
100 | 101,408 | ||||||
|
University of Vermont & State Agricultural College RB, 5.00%, 10/01/23 |
25 | 25,375 | ||||||
|
Vermont Municipal Bond Bank RB, Series 4, 5.00%, 12/01/23 |
25 | 25,467 | ||||||
|
|
|
|||||||
| 152,250 | ||||||||
| Virginia — 4.8% | ||||||||
|
Chesapeake Bay Bridge & Tunnel District RB, 5.00%, 11/01/23 |
1,000 | 1,011,235 | ||||||
|
City of Alexandria VA GO, 5.00%, 07/15/23 (SAW) |
635 | 643,136 | ||||||
|
City of Falls Church VA GO, Series B, 5.00%, 07/15/23 |
250 | 253,203 | ||||||
|
City of Hampton VA GO, Series A, 5.00%, 09/01/23 (SAW) |
10 | 10,149 | ||||||
|
City of Newport News VA GO |
||||||||
|
5.00%, 07/15/23 (SAW) |
415 | 420,230 | ||||||
|
Series A, 5.00%, 08/01/23 |
60 | 60,801 | ||||||
|
City of Norfolk VA GO |
||||||||
|
5.00%, 08/01/23 (SAW) |
425 | 430,771 | ||||||
|
Series A, 5.00%, 08/01/23 (SAW) |
35 | 35,475 | ||||||
|
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/23 |
175 | 175,668 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
39 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Virginia (continued) | ||||||||
|
Commonwealth of Virginia GO |
||||||||
|
Series B, 4.00%, 06/01/23 |
$ | 500 | $ | 502,646 | ||||
|
Series B, 5.00%, 06/01/23 |
100 | 101,100 | ||||||
|
County of Arlington VA GO, 5.00%, 08/15/23 |
100 | 101,431 | ||||||
|
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/23 |
70 | 71,247 | ||||||
|
County of Fairfax VA GO |
||||||||
|
4.00%, 10/01/23 (SAW) |
275 | 277,171 | ||||||
|
Series A, 5.00%, 10/01/23 (SAW) |
700 | 711,339 | ||||||
|
Series B, 5.00%, 04/01/23 (SAW) |
75 | 75,594 | ||||||
|
Series B, 5.00%, 10/01/23 (SAW) |
625 | 635,520 | ||||||
|
County of Henrico VA GO |
||||||||
|
5.00%, 08/01/23 (SAW) |
200 | 202,716 | ||||||
|
Series A, 5.00%, 08/01/23 |
165 | 167,240 | ||||||
|
County of Loudoun VA GO |
||||||||
|
Series A, 5.00%, 12/01/23 |
140 | 142,690 | ||||||
|
Series A, 5.00%, 12/01/23 (SAW) |
600 | 611,528 | ||||||
|
County of Prince William VA COP, 5.00%, 10/01/23 |
120 | 121,846 | ||||||
|
County of Prince William VA GO, 5.00%, 08/01/23 (SAW) |
100 | 101,358 | ||||||
|
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/23 |
200 | 201,848 | ||||||
|
Fairfax County Water Authority RB, 5.00%, 04/01/23 |
515 | 518,969 | ||||||
|
Hampton Roads Sanitation District RB, Series A, 5.00%, 07/01/23 |
500 | 506,072 | ||||||
|
Town of Leesburg VA GO, 5.00%, 01/15/23 (SAW) |
125 | 125,472 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 02/01/23 |
800 | 803,679 | ||||||
|
5.00%, 09/01/23 (ST INTERCEPT) |
720 | 730,789 | ||||||
|
Series A, 5.00%, 02/01/23 |
385 | 386,771 | ||||||
|
Series A, 5.00%, 09/01/23 |
40 | 40,599 | ||||||
|
Series A, 5.00%, 02/01/28 (PR 02/01/23) |
1,025 | 1,029,663 | ||||||
|
Series E-1, 5.00%, 02/01/23 |
295 | 296,357 | ||||||
|
Series E-2, 5.00%, 02/01/23 |
555 | 557,553 | ||||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 05/15/23 |
780 | 787,829 | ||||||
|
5.00%, 09/15/23 |
215 | 218,361 | ||||||
|
5.00%, 09/15/23 (PR 03/15/23) |
1,100 | 1,107,495 | ||||||
|
Series A, 5.00%, 05/15/23 |
305 | 308,061 | ||||||
|
Series C, 5.00%, 05/15/23 |
90 | 90,903 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
5.00%, 08/01/23 |
950 | 962,405 | ||||||
|
Series C, 5.00%, 08/01/23 |
525 | 531,856 | ||||||
|
Series A, 4.00%, 08/01/23 |
145 | 145,833 | ||||||
|
Series A, 5.00%, 08/01/23 |
290 | 293,787 | ||||||
|
Series A, 5.00%, 08/01/26 (PR 08/01/23) |
220 | 222,954 | ||||||
|
Series B, 5.00%, 08/01/23 |
865 | 876,295 | ||||||
|
Virginia Public School Authority RB |
||||||||
|
4.00%, 10/01/23 (SAW) |
100 | 100,736 | ||||||
|
5.00%, 03/01/23 (SAW) |
150 | 150,923 | ||||||
|
5.00%, 07/15/23 (SAW) |
45 | 45,577 | ||||||
|
5.00%, 08/01/23 |
1,735 | 1,758,815 | ||||||
|
5.00%, 08/01/23 (SAW) |
390 | 395,353 | ||||||
|
Series B, 5.00%, 08/01/23 |
100 | 101,373 | ||||||
|
Series A, 5.00%, 08/01/23 (SAW) |
280 | 283,844 | ||||||
|
Series B, 5.00%, 08/01/23 (SAW) |
225 | 228,088 | ||||||
|
Series VI, 5.00%, 04/15/23 |
155 | 156,320 | ||||||
|
Virginia Resources Authority Clean Water Revolving Fund RB, 5.00%, 10/01/23 |
665 | 676,133 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
Series A, 4.00%, 11/01/23 |
100 | 100,847 | ||||||
| Security | Par (000) |
Value | ||||||
| Virginia (continued) | ||||||||
|
Series A, 5.00%, 11/01/23 |
$ | 1,105 | $ | 1,125,124 | ||||
|
Series B, 5.00%, 11/01/23 |
200 | 203,642 | ||||||
|
Series S, 5.00%, 11/01/23 |
390 | 397,103 | ||||||
|
|
|
|||||||
| 23,331,523 | ||||||||
| Washington — 5.9% | ||||||||
|
Central Puget Sound Regional Transit Authority TB, 5.00%, 11/01/23 |
115 | 116,992 | ||||||
|
City of Bellevue WA GOL, 4.00%, 12/01/28 (PR 06/01/23) (AMBAC) |
1,200 | 1,205,662 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB |
||||||||
|
5.00%, 04/01/23 |
145 | 146,118 | ||||||
|
5.00%, 07/01/23 |
300 | 303,643 | ||||||
|
5.00%, 09/01/23 |
1,000 | 1,014,985 | ||||||
|
City of Seattle WA GO, 5.00%, 12/01/23 |
100 | 101,921 | ||||||
|
City of Seattle WA GOL |
||||||||
|
5.00%, 05/01/23 |
1,060 | 1,069,800 | ||||||
|
Series A, 5.00%, 04/01/23 |
445 | 448,430 | ||||||
|
Series A, 5.00%, 06/01/23 |
100 | 101,071 | ||||||
|
Series A, 5.00%, 11/01/23 |
100 | 101,782 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
|
5.00%, 09/01/23 |
400 | 405,763 | ||||||
|
Series B, 5.00%, 04/01/23 |
350 | 352,596 | ||||||
|
Series C, 5.00%, 09/01/23 |
290 | 294,178 | ||||||
|
Series C, 5.00%, 10/01/23 |
280 | 284,409 | ||||||
|
City of Seattle WA Water System Revenue RB, 5.00%, 05/01/23 |
390 | 393,606 | ||||||
|
City of Spokane WA Water & Wastewater Revenue RB, 5.00%, 12/01/23 |
390 | 397,369 | ||||||
|
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/23 |
205 | 205,620 | ||||||
|
Clark County Public Utility District No. 1 RB, Series 1, 5.00%, 01/01/23 |
235 | 235,636 | ||||||
|
Clark County School District No. 117 Camas GO, 5.00%, 12/01/23 (GTD) |
115 | 117,210 | ||||||
|
County of King WA GOL |
||||||||
|
5.00%, 07/01/23 |
480 | 485,671 | ||||||
|
5.25%, 01/01/23 |
115 | 115,388 | ||||||
|
Series B, 5.00%, 12/01/23 |
260 | 264,857 | ||||||
|
Series E, 5.00%, 12/01/23 |
165 | 168,082 | ||||||
|
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/23 |
450 | 455,346 | ||||||
|
County of Snohomish WA GOL |
||||||||
|
4.00%, 12/01/43 (PR 06/01/23) |
2,000 | 2,009,437 | ||||||
|
5.00%, 12/01/23 |
125 | 127,401 | ||||||
|
Energy Northwest RB |
||||||||
|
5.00%, 07/01/23 |
545 | 551,618 | ||||||
|
Series A, 4.00%, 07/01/23 |
150 | 150,845 | ||||||
|
Series A, 5.00%, 07/01/23 |
1,540 | 1,558,701 | ||||||
|
Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project RB, Series A, 5.00%, 01/01/23 |
250 | 250,756 | ||||||
|
Grant County Public Utility District No. 2 Electric Revenue RB, Series J, 5.00%, 01/01/38 (PR 07/01/23) |
1,000 | 1,012,012 | ||||||
|
King County School District No. 216 Enumclaw GO, 5.00%, 12/01/23 (GTD) |
50 | 50,934 | ||||||
|
King County School District No. 401 Highline GO, 5.00%, 12/01/23 (GTD) |
25 | 25,480 | ||||||
|
King County School District No. 403 Renton GO, 5.00%, 12/01/23 (GTD) |
125 | 127,335 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/23 (GTD) |
2,870 | 2,926,066 | ||||||
| 40 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Washington (continued) | ||||||||
|
King County School District No. 411 Issaquah GO, 5.00%, 12/01/23 (GTD) |
$ | 255 | $ | 259,900 | ||||
|
King County School District No. 415 Kent GO, 5.00%, 12/01/23 (GTD) |
90 | 91,633 | ||||||
|
Pierce County School District No. 320 Sumner GO, 5.00%, 12/01/23 (GTD) |
175 | 178,381 | ||||||
|
Pierce County School District No. 403 Bethel GO, 5.00%, 06/01/23 (GTD) |
65 | 65,670 | ||||||
|
Pierce County School District No. 416 White River GO, 5.00%, 12/01/23 (GTD) |
70 | 71,308 | ||||||
|
Port of Seattle WA GOL |
||||||||
|
5.00%, 01/01/23 |
55 | 55,168 | ||||||
|
5.00%, 06/01/23 |
250 | 252,677 | ||||||
|
Port of Seattle WA RB, Series B, 5.00%, 03/01/23 |
70 | 70,384 | ||||||
|
Port of Tacoma WA GOL, Series A, 5.00%, 12/01/23 |
180 | 183,401 | ||||||
|
Port of Tacoma WA RB, Series A, 4.00%, 12/01/23 |
125 | 125,952 | ||||||
|
Skagit County School District No. 103 Anacortes GO, 5.00%, 12/01/23 (GTD) |
25 | 25,467 | ||||||
|
Snohomish County School District No. 15 Edmonds GO, 4.00%, 12/01/23 (GTD) |
20 | 20,163 | ||||||
|
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/23 (GTD) |
165 | 168,082 | ||||||
|
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/23 (GTD) |
140 | 142,615 | ||||||
|
Snohomish County School District No. 6 Mukilteo GO, 5.00%, 12/01/23 (GTD) |
245 | 249,708 | ||||||
|
Spokane & Whitman Counties School District No. 360 Cheney GO, 5.00%, 12/01/23 (GTD) |
100 | 101,868 | ||||||
|
State of Washington COP |
||||||||
|
Series A, 5.00%, 07/01/23 |
485 | 490,409 | ||||||
|
Series B, 5.00%, 07/01/23 |
235 | 237,621 | ||||||
|
State of Washington GO |
||||||||
|
5.00%, 07/01/23 |
125 | 126,526 | ||||||
|
5.00%, 08/01/23 |
110 | 111,502 | ||||||
|
Series C, 5.00%, 02/01/23 |
350 | 351,619 | ||||||
|
Series A, 5.00%, 08/01/23 |
420 | 425,734 | ||||||
|
Series B, 5.00%, 07/01/23 |
1,280 | 1,295,629 | ||||||
|
Series B, 5.00%, 08/01/23 |
185 | 187,526 | ||||||
|
Series C, 5.00%, 02/01/23 |
250 | 251,156 | ||||||
|
Series C, 5.50%, 07/01/23 |
45 | 45,696 | ||||||
|
Series D, 5.00%, 02/01/23 |
210 | 210,971 | ||||||
|
Series E, 5.00%, 06/01/23 |
100 | 101,077 | ||||||
|
Series E, 5.25%, 02/01/23 |
150 | 150,785 | ||||||
|
Series R, 4.00%, 07/01/23 |
90 | 90,513 | ||||||
|
Series R, 5.00%, 07/01/23 |
765 | 774,340 | ||||||
|
Series R-2015, 5.00%, 07/01/23 |
545 | 551,654 | ||||||
|
Series R-2017A, 5.00%, 08/01/23 |
235 | 238,208 | ||||||
|
Series R-2018D, 5.00%, 08/01/23 |
100 | 101,365 | ||||||
|
Series R-C, 5.00%, 07/01/23 |
390 | 394,762 | ||||||
|
State of Washington RB |
||||||||
|
5.00%, 09/01/23 |
1,000 | 1,015,067 | ||||||
|
Series C, 5.00%, 09/01/23 |
1,130 | 1,147,026 | ||||||
|
University of Washington, 5.00%, 07/01/25 (PR 07/01/23) |
100 | 101,201 | ||||||
|
University of Washington RB |
||||||||
|
Series A, 4.00%, 12/01/23 |
165 | 166,397 | ||||||
|
Series B, 4.00%, 06/01/23 |
235 | 236,149 | ||||||
|
Series C, 5.00%, 12/01/23 |
215 | 219,085 | ||||||
|
Washington State University RB |
||||||||
|
5.00%, 04/01/23 |
315 | 317,233 | ||||||
|
5.00%, 10/01/23 |
120 | 121,803 | ||||||
| Security | Par (000) |
Value | ||||||
| Washington (continued) | ||||||||
|
Yakima County School District No. 90 East Valley GO, 5.00%, 12/01/23 (GTD) |
$ | 15 | $ | 15,272 | ||||
|
|
|
|||||||
| 29,115,423 | ||||||||
| West Virginia — 0.5% | ||||||||
|
State of West Virginia GO |
||||||||
|
Series A, 5.00%, 06/01/23 |
625 | 631,693 | ||||||
|
Series A, 5.00%, 11/01/23 |
55 | 55,980 | ||||||
|
Series A, 5.00%, 12/01/23 |
100 | 101,921 | ||||||
|
Series B, 5.00%, 06/01/23 |
225 | 227,410 | ||||||
|
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/23 |
600 | 608,991 | ||||||
|
West Virginia Parkways Authority RB, 5.00%, 06/01/23 |
260 | 262,785 | ||||||
|
West Virginia State School Building Authority Lottery RB, Series A, 5.00%, 07/01/23 |
225 | 227,436 | ||||||
|
West Virginia Water Development Authority RB |
||||||||
|
Series A, 5.00%, 07/01/23 |
100 | 101,155 | ||||||
|
Series A-II, 5.00%, 11/01/23 |
80 | 81,425 | ||||||
|
|
|
|||||||
| 2,298,796 | ||||||||
| Wisconsin — 2.9% | ||||||||
|
City of Madison WI GO, Series A, 4.00%, 10/01/23 |
500 | 503,723 | ||||||
|
City of Madison WI Water Utility Revenue RB, 5.00%, 01/01/23 |
50 | 50,149 | ||||||
|
City of Milwaukee WI GO, Series N1, 5.00%, 02/01/23 |
270 | 270,872 | ||||||
|
Milwaukee County Metropolitan Sewer District GO, Series A, 5.00%, 10/01/23 |
370 | 375,960 | ||||||
|
Milwaukee Metropolitan Sewerage District GO, 4.00%, 10/01/23 |
205 | 206,471 | ||||||
|
State of Wisconsin Clean Water Fund Leveraged Loan Portfolio RB |
||||||||
|
Series 1, 5.00%, 06/01/24 (PR 06/01/23) |
1,490 | 1,505,355 | ||||||
|
Series 2, 5.00%, 06/01/23 |
115 | 116,185 | ||||||
|
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/23 |
930 | 940,013 | ||||||
|
State of Wisconsin GO |
||||||||
|
5.00%, 05/01/23 |
1,000 | 1,009,246 | ||||||
|
5.00%, 11/01/23 |
565 | 575,066 | ||||||
|
Series D, 5.00%, 05/01/23 |
360 | 363,328 | ||||||
|
Series 1, 5.00%, 05/01/23 |
475 | 479,392 | ||||||
|
Series 1, 5.00%, 11/01/23 |
320 | 325,701 | ||||||
|
Series 2, 5.00%, 11/01/23 |
255 | 259,543 | ||||||
|
Series A, 5.00%, 05/01/23 |
100 | 100,925 | ||||||
|
Series A, 5.00%, 05/01/28 (PR 05/01/23) |
1,000 | 1,008,900 | ||||||
|
Series A, 5.00%, 05/01/29 (PR 05/01/23) |
2,000 | 2,017,799 | ||||||
|
Series B, 4.00%, 05/01/23 |
55 | 55,239 | ||||||
|
Series C, 5.00%, 05/01/23 |
40 | 40,370 | ||||||
|
State of Wisconsin RB, Series A, 5.00%, 05/01/23 |
450 | 454,072 | ||||||
|
Wisconsin Department of Transportation RB |
||||||||
|
Series 1, 4.00%, 07/01/23 |
95 | 95,541 | ||||||
|
Series 1, 5.00%, 07/01/23 |
420 | 425,128 | ||||||
|
Series 1, 5.00%, 07/01/26 (PR 07/01/23) |
645 | 652,535 | ||||||
|
Series 1, 5.00%, 07/01/27 (PR 07/01/23) |
640 | 647,687 | ||||||
|
Series 1, 5.00%, 07/01/30 (PR 07/01/23) |
240 | 242,883 | ||||||
|
Series 2, 5.00%, 07/01/23 |
255 | 258,114 | ||||||
|
Series A, 5.00%, 07/01/23 |
625 | 632,631 | ||||||
|
Wisconsin Health & Educational Facilities Authority RB |
||||||||
|
5.00%, 08/15/23 |
115 | 116,547 | ||||||
|
Series A, 5.00%, 11/15/23 |
40 | 40,673 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
41 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2023 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par/ Shares (000) |
Value | ||||||
| Wisconsin (continued) | ||||||||
|
WPPI Energy RB, Series A, 5.00%, 07/01/23 |
$ | 230 | $ | 232,308 | ||||
|
|
|
|||||||
| 14,002,356 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 98.4% |
481,883,200 | |||||||
|
|
|
|||||||
|
Short-Term Securities |
||||||||
| Money Market Funds — 0.5% | ||||||||
|
BlackRock
Liquidity Funds: MuniCash, |
2,259 | 2,259,207 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.5% |
2,259,207 | |||||||
|
|
|
|||||||
|
Total
Investments — 98.9% |
484,142,407 | |||||||
|
Other Assets Less Liabilities — 1.1% |
5,569,897 | |||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 489,712,304 | ||||||
|
|
|
|||||||
| (a) |
Zero-coupon bond. |
| (b) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
| (c) |
Affiliate of the Fund. |
| (d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 423,667 | $ | 1,835,274 | (a) | $ | — | $ | 266 | $ | — | $ | 2,259,207 | 2,259 | $ | 11,473 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 481,883,200 | $ | — | $ | 481,883,200 | ||||||||
|
Money Market Funds |
2,259,207 | — | — | 2,259,207 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 2,259,207 | $ | 481,883,200 | $ | — | $ | 484,142,407 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
| 42 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Municipal Debt Obligations |
| |||||||
|
Alabama — 0.7% |
||||||||
|
Alabama Federal Aid Highway Finance Authority RB |
||||||||
|
Series A, 5.00%, 09/01/24 |
$ | 255 | $ | 262,908 | ||||
|
Series B, 5.00%, 09/01/24 |
470 | 484,577 | ||||||
|
Alabama Public School & College Authority RB |
||||||||
|
Series A, 5.00%, 02/01/24 |
1,025 | 1,047,179 | ||||||
|
Series A, 5.00%, 05/01/24 |
115 | 117,963 | ||||||
|
Series B, 5.00%, 01/01/24 |
520 | 530,538 | ||||||
|
Series C, 5.00%, 06/01/24 |
100 | 102,708 | ||||||
|
Auburn University RB, Series B, 5.00%, 06/01/24 |
265 | 271,928 | ||||||
|
City of Huntsville AL GO, Series A, 5.00%, 08/01/24 |
15 | 15,440 | ||||||
|
County of Mobile AL GOL, Series A, 5.00%, 06/01/24 |
50 | 51,338 | ||||||
|
State of Alabama GO |
||||||||
|
Series A, 5.00%, 08/01/24 |
285 | 293,661 | ||||||
|
Series A, 5.00%, 11/01/24 |
185 | 191,370 | ||||||
|
Series C, 5.00%, 08/01/24 |
125 | 128,799 | ||||||
|
University of Alabama (The) RB, Series A, 5.00%, 07/01/24 |
130 | 133,683 | ||||||
|
|
|
|||||||
| 3,632,092 | ||||||||
| Alaska — 0.2% | ||||||||
|
State of Alaska GO, Series B, 5.00%, 08/01/24 |
850 | 875,685 | ||||||
|
|
|
|||||||
| Arizona — 2.4% | ||||||||
|
Arizona Board of Regents COP, Series A, 5.00%, 06/01/24 |
135 | 138,298 | ||||||
|
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/24 |
745 | 766,637 | ||||||
|
Arizona State University RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
215 | 220,998 | ||||||
|
Series B, 5.00%, 07/01/24 |
205 | 210,719 | ||||||
|
Series C, 5.00%, 07/01/24 |
65 | 66,813 | ||||||
|
Arizona Transportation Board RB |
||||||||
|
5.00%, 07/01/24 |
585 | 601,991 | ||||||
|
Series A, 5.00%, 07/01/24 |
580 | 596,845 | ||||||
|
Arizona Water Infrastructure Finance Authority RB, Series A, 5.00%, 10/01/24 |
1,195 | 1,234,311 | ||||||
|
City of Peoria AZ GOL, Series B, 5.00%, 07/15/24 |
225 | 231,638 | ||||||
|
City of Phoenix AZ GO, 5.00%, 07/01/24 |
215 | 221,033 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/24 |
1,105 | 1,136,272 | ||||||
|
Series A, 5.00%, 07/01/24 |
435 | 446,988 | ||||||
|
Series A, 5.00%, 07/01/39 (PR 07/01/24) |
1,210 | 1,244,349 | ||||||
|
Series B, 5.00%, 07/01/24 |
985 | 1,012,581 | ||||||
|
Series D, 5.00%, 07/01/24 |
275 | 281,817 | ||||||
|
City of Scottsdale AZ GOL, 4.00%, 07/01/24 |
330 | 334,067 | ||||||
|
City of Tempe AZ, 4.00%, 07/01/24 |
100 | 101,216 | ||||||
|
City of Tucson AZ COP, 5.00%, 07/01/24 (AGM) |
85 | 87,177 | ||||||
|
City of Tucson AZ Water System Revenue RB, 5.00%, 07/01/24 |
95 | 97,666 | ||||||
|
County of Pima AZ Sewer System Revenue RB, 5.00%, 07/01/24 |
335 | 344,400 | ||||||
|
Maricopa County Unified School District No. 97-Deer Valley/AZ GO, 4.00%, 07/01/24 |
20 | 20,240 | ||||||
|
Maricopa County Union High School District No. 210-Phoenix GO |
||||||||
|
5.00%, 07/01/24 |
150 | 154,307 | ||||||
|
Series C, 3.00%, 07/01/24 |
165 | 163,188 | ||||||
|
Maricopa County Union High School District No. 210-Phoenix GOL, 4.00%, 07/01/24 |
260 | 263,288 | ||||||
|
Phoenix AZ, 4.00%, 07/01/24 |
675 | 682,982 | ||||||
| Security | Par (000) |
Value | ||||||
|
Arizona (continued) |
||||||||
|
Regional Public Transportation Authority RB, 5.25%, 07/01/24 |
$ | 320 | $ | 330,264 | ||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/24 |
300 | 306,080 | ||||||
|
Series A, 5.00%, 01/01/24 |
130 | 132,634 | ||||||
|
State of Arizona |
||||||||
|
5.00%, 09/01/24 |
105 | 108,106 | ||||||
|
5.00%, 09/01/24 (ETM) |
270 | 277,889 | ||||||
|
State of Arizona COP, 5.00%, 10/01/24 |
160 | 165,173 | ||||||
|
University of Arizona (The) RB |
||||||||
|
Series A, 5.00%, 06/01/24 |
100 | 102,661 | ||||||
|
Series B, 5.00%, 06/01/24 |
150 | 153,991 | ||||||
|
|
|
|||||||
| 12,236,619 | ||||||||
| Arkansas — 0.2% | ||||||||
|
State of Arkansas GO |
||||||||
|
4.00%, 06/01/24 |
605 | 612,414 | ||||||
|
5.00%, 04/01/24 |
220 | 225,457 | ||||||
|
|
|
|||||||
| 837,871 | ||||||||
| California — 12.2% | ||||||||
|
Allan Hancock Joint Community College District/CA GO |
||||||||
|
5.00%, 08/01/24 |
205 | 211,371 | ||||||
|
5.00%, 08/01/24 (ETM) |
10 | 10,302 | ||||||
|
Beverly Hills Unified School District CA GO |
||||||||
|
0.00%, 08/01/24(a) |
725 | 683,117 | ||||||
|
4.00%, 08/01/24 |
110 | 111,564 | ||||||
|
California Educational Facilities Authority RB, 0.00%, 10/01/24 (AMBAC)(a) |
160 | 149,151 | ||||||
|
California Health Facilities Financing Authority RB, Series A, 5.00%, 11/15/24 |
135 | 139,841 | ||||||
|
California Infrastructure & Economic Development Bank RB |
||||||||
|
5.00%, 10/01/24 |
550 | 569,336 | ||||||
|
Series A, 5.00%, 10/01/24 |
355 | 367,012 | ||||||
|
California State Public Works Board RB |
||||||||
|
5.00%, 05/01/24 |
185 | 189,712 | ||||||
|
Series A, 5.00%, 06/01/24 |
105 | 107,810 | ||||||
|
Series A, 5.00%, 09/01/24 |
250 | 257,664 | ||||||
|
Series B, 5.00%, 10/01/24 |
635 | 655,292 | ||||||
|
Series C, 5.00%, 03/01/24 |
135 | 138,071 | ||||||
|
Series D, 5.00%, 09/01/24 |
270 | 278,277 | ||||||
|
Series F, 5.00%, 05/01/24 |
320 | 328,150 | ||||||
|
Series G, 5.00%, 05/01/24 |
245 | 251,240 | ||||||
|
Series H, 5.00%, 12/01/24 |
75 | 77,591 | ||||||
|
Serise A, 5.00%, 03/01/24 |
145 | 148,299 | ||||||
|
California State University RB |
||||||||
|
Series A, 4.00%, 11/01/24 |
70 | 71,066 | ||||||
|
Series A, 5.00%, 11/01/24 |
860 | 889,783 | ||||||
|
Series A, 5.00%, 11/01/29 (PR 11/01/24) |
815 | 844,185 | ||||||
|
Series A, 5.00%, 11/01/32 (PR 11/01/24) |
300 | 310,743 | ||||||
|
Series A, 5.00%, 11/01/39 (PR 11/01/24) |
440 | 455,756 | ||||||
|
Serise A, 4.00%, 11/01/24 |
150 | 152,285 | ||||||
|
Cerritos Community College District GO, Series D, 0.00%, 08/01/24(a) |
125 | 117,435 | ||||||
|
City & County of San Francisco CA GO, 5.00%, 06/15/24 |
395 | 406,694 | ||||||
|
City of Long Beach CA Harbor Revenue RB, Series B, 5.00%, 05/15/24 |
425 | 436,210 | ||||||
|
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
|
5.00%, 06/01/24 |
225 | 231,197 | ||||||
|
Series A, 5.00%, 06/01/24 |
85 | 87,341 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
43 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
California (continued) |
||||||||
|
City of Los Angeles Department of Airports RB |
||||||||
|
4.00%, 05/15/24 |
$ | 175 | $ | 177,040 | ||||
|
5.00%, 05/15/24 |
180 | 184,775 | ||||||
|
Series B, 5.00%, 05/15/24 |
290 | 297,693 | ||||||
|
Series C, 5.00%, 05/15/24 |
160 | 164,244 | ||||||
|
City of Petaluma CA Wastewater Revenue RB, 5.00%, 05/01/24 |
130 | 133,215 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
|
4.00%, 11/01/24 |
130 | 132,081 | ||||||
|
5.00%, 11/01/24 |
340 | 351,908 | ||||||
|
Series D, 5.00%, 11/01/24 |
165 | 170,779 | ||||||
|
City of San Francisco Public Utilities Commission Water Revenue, 5.00%, 11/01/45 (PR 11/01/24) |
2,000 | 2,070,440 | ||||||
|
City of San Jose CA GO, 5.00%, 09/01/24 |
265 | 273,362 | ||||||
|
Coast Community College District GO, Series D, 5.00%, 08/01/24 |
80 | 82,417 | ||||||
|
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/24 |
45 | 46,101 | ||||||
|
Contra Costa Water District RB, Series T, 5.00%, 10/01/24 |
105 | 108,632 | ||||||
|
East Bay Municipal Utility District Water System Revenue RB, 5.00%, 06/01/24 |
195 | 200,371 | ||||||
|
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/24 |
225 | 231,387 | ||||||
|
Escondido Union High School District GO, Series A, 0.00%, 08/01/24 (AGC)(a) |
255 | 239,568 | ||||||
|
Evergreen School District GO, 0.00%, 08/01/24 (AGC)(a) |
100 | 94,353 | ||||||
|
Foothill-De Anza Community College District GO |
||||||||
|
4.00%, 08/01/24 |
160 | 162,002 | ||||||
|
5.00%, 08/01/24 |
325 | 334,821 | ||||||
|
Grossmont Union High School District GO |
||||||||
|
5.00%, 08/01/24 |
150 | 154,765 | ||||||
|
Series 2004, 0.00%, 08/01/24 (NPFGC)(a) |
425 | 398,938 | ||||||
|
Long Beach Community College District GO |
||||||||
|
Series D, 0.00%, 05/01/24 (NPFGC)(a) |
170 | 161,362 | ||||||
|
Series F, 5.00%, 06/01/24 |
185 | 190,095 | ||||||
|
Los Angeles Community College District/CA, 5.00%, 08/01/24 |
1,000 | 1,032,630 | ||||||
|
Los Angeles Community College District/CA GO |
||||||||
|
Series A, 5.00%, 08/01/24 |
720 | 743,494 | ||||||
|
Series A, 5.00%, 08/01/26 (PR 08/01/24) |
1,000 | 1,031,423 | ||||||
|
Series A, 5.00%, 08/01/28 (PR 08/01/24) |
350 | 360,998 | ||||||
|
Series A, 5.00%, 08/01/31 (PR 08/01/24) |
4,245 | 4,378,390 | ||||||
|
Series C, 5.00%, 08/01/24 |
435 | 449,194 | ||||||
|
Series G, 5.00%, 08/01/26 (PR 08/01/24) |
225 | 232,070 | ||||||
|
Series J, 4.00%, 08/01/24 |
190 | 192,993 | ||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 07/01/24 |
225 | 231,719 | ||||||
|
Series A, 5.00%, 06/01/24 |
705 | 725,077 | ||||||
|
Series A, 5.00%, 07/01/24 |
600 | 617,919 | ||||||
|
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue RB |
||||||||
|
5.00%, 07/01/24 |
100 | 102,986 | ||||||
|
Series A, 5.00%, 07/01/24 |
140 | 144,181 | ||||||
|
Los Angeles County Public Works Financing Authority RB, Series B, 5.00%, 12/01/24 |
305 | 315,723 | ||||||
|
Los Angeles County Sanitation Districts Financing Authority RB, Series A, 5.00%, 10/01/24 |
195 | 201,048 | ||||||
| Security | Par (000) |
Value | ||||||
|
California (continued) |
||||||||
|
Los Angeles Department of Water & Power Power System Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
$ | 245 | $ | 252,416 | ||||
|
Series B, 5.00%, 07/01/24 |
455 | 468,715 | ||||||
|
Series C, 5.00%, 07/01/24 |
105 | 108,153 | ||||||
|
Serise A, 5.00%, 07/01/24 |
80 | 82,442 | ||||||
|
Los Angeles Department of Water & Power, RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
110 | 113,303 | ||||||
|
Series B, 5.00%, 07/01/24 |
250 | 257,507 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
Series A, 5.00%, 07/01/24 |
1,990 | 2,051,390 | ||||||
|
Series B, 5.00%, 07/01/24 |
295 | 304,101 | ||||||
|
Series B-1, 4.00%, 07/01/24 |
510 | 517,527 | ||||||
|
Series C, 5.00%, 07/01/24 |
1,220 | 1,257,637 | ||||||
|
Los Rios Community College District GO, 4.00%, 08/01/24 |
200 | 202,607 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
5.00%, 07/01/24 |
130 | 134,032 | ||||||
|
5.00%, 10/01/24 |
100 | 103,535 | ||||||
|
Series A, 5.00%, 07/01/24 |
125 | 128,671 | ||||||
|
Series B, 4.00%, 10/01/24 |
95 | 96,606 | ||||||
|
Series C, 5.00%, 07/01/24 |
105 | 108,257 | ||||||
|
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/24 |
255 | 263,931 | ||||||
|
Newport Mesa Unified School District GO, 5.00%, 08/01/24 |
175 | 180,288 | ||||||
|
North Orange County Community College District/CA GO, Series B, 0.00%, 08/01/24 (NPFGC)(a) |
120 | 112,738 | ||||||
|
Orange County Water District RB, Series C, 5.00%, 08/15/24 |
235 | 242,578 | ||||||
|
Pajaro Valley Unified School District GO, Series B, 0.00%, 08/01/24 (AGM)(a) |
100 | 93,787 | ||||||
|
Pasadena Unified School District GO, Series B, 5.00%, 08/01/24 |
30 | 30,922 | ||||||
|
Placer Union High School District/CA GO, Series A, 0.00%, 08/01/24 (NPFGC)(a) |
25 | 23,487 | ||||||
|
Port of Los Angeles RB, Series A, 5.00%, 08/01/24 |
20 | 20,632 | ||||||
|
Poway Unified School District GO, Series A, 0.00%, 08/01/24(a) |
100 | 94,110 | ||||||
|
Riverside County Transportation Commission RB, Series B, 5.00%, 06/01/24 |
155 | 159,269 | ||||||
|
Sacramento Municipal Utility District RB |
||||||||
|
5.00%, 08/15/24 |
60 | 61,945 | ||||||
|
Series E, 5.00%, 08/15/24 |
275 | 283,917 | ||||||
|
Salinas Union High School District GO, Series A, 0.00%, 10/01/24 (NPFGC)(a) |
20 | 18,675 | ||||||
|
San Diego Community College District GO, 5.00%, 08/01/24 |
445 | 458,447 | ||||||
|
San Diego Unified School District/CA, 5.50%, 07/01/24 (AGM) |
400 | 415,492 | ||||||
|
San Diego Unified School District/CA GO |
||||||||
|
Series A, 0.00%, 07/01/24(a) |
440 | 415,853 | ||||||
|
Series A, 0.00%, 07/01/24 (ETM)(a) |
160 | 151,219 | ||||||
|
Series C-2, 5.50%, 07/01/24 (AGM) |
255 | 264,876 | ||||||
|
Series D-1, 5.50%, 07/01/24 (NPFGC) |
395 | 410,168 | ||||||
|
Series G, 0.00%, 07/01/38 (PR 01/01/24)(a) |
600 | 259,713 | ||||||
|
Series R-4, 5.00%, 07/01/24 |
240 | 247,286 | ||||||
|
San Francisco Bay Area Rapid Transit District GO, Series A, 5.00%, 08/01/24 |
155 | 159,844 | ||||||
|
San Francisco Bay Area Rapid Transit District Sales Tax Revenue RB, Series A, 5.00%, 07/01/24 |
330 | 339,855 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB, Series D, 5.00%, 05/01/24 |
250 | 256,183 | ||||||
| 44 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
California (continued) |
||||||||
|
San Francisco City & County Public Utilities Commission Wastewater Revenue RB, Series A, 5.00%, 10/01/24 |
$ | 295 | $ | 305,260 | ||||
|
San Joaquin Delta Community College District GO, Series C, 5.00%, 08/01/39 (PR 08/01/24) |
1,000 | 1,030,217 | ||||||
|
San Jose Evergreen Community College District, 5.00%, 09/01/34 (PR 09/01/24) |
1,000 | 1,032,457 | ||||||
|
San Jose Unified School District GO, 5.00%, 08/01/24 |
450 | 463,597 | ||||||
|
San Marcos Unified School District GO, 0.00%, 08/01/24(a) |
40 | 37,573 | ||||||
|
San Mateo County Community College District GO, Series B, 0.00%, 09/01/24 (NPFGC)(a) |
120 | 112,983 | ||||||
|
San Mateo Union High School District GO, 4.00%, 09/01/24 |
210 | 213,111 | ||||||
|
San Ramon Valley Unified School District/CA GO, 5.00%, 08/01/24 |
125 | 128,885 | ||||||
|
Santa Clara County Financing Authority RB, Serise A, 5.00%, 11/15/24 |
445 | 460,601 | ||||||
|
Santa Clara Valley Transportation Authority, 5.00%, 06/01/24 |
340 | 349,789 | ||||||
|
Santa Clara Valley Transportation Authority RB |
||||||||
|
Series A, 5.00%, 04/01/24 |
100 | 102,592 | ||||||
|
Series A, 5.00%, 06/01/24 |
150 | 154,319 | ||||||
|
Santa Clara Valley Water District COP, Series C, 5.00%, 06/01/24 |
295 | 302,666 | ||||||
|
Santa Monica-Malibu Unified School District GO, Series C, 4.00%, 07/01/24 |
85 | 86,199 | ||||||
|
Simi Valley Unified School District GO, 5.00%, 08/01/24 |
250 | 257,899 | ||||||
|
Southern California Public Power Authority RB |
||||||||
|
5.00%, 07/01/24 |
140 | 144,227 | ||||||
|
Series C, 5.00%, 07/01/24 |
335 | 345,115 | ||||||
|
State of California, 5.00%, 09/01/24 |
1,500 | 1,548,145 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
5.00%, 12/01/24 |
310 | 321,723 | ||||||
|
Series AR, 5.00%, 12/01/24 (PR 06/01/24) |
35 | 35,991 | ||||||
|
Series AS, 5.00%, 12/01/24 |
610 | 633,068 | ||||||
|
Series AV, 5.00%, 12/01/24 |
75 | 77,836 | ||||||
|
Series AW, 5.00%, 12/01/24 |
105 | 108,971 | ||||||
|
Series AX, 5.00%, 12/01/24 |
160 | 166,051 | ||||||
|
Series BA, 5.00%, 12/01/24 |
265 | 275,021 | ||||||
|
State of California GO |
||||||||
|
4.00%, 04/01/24 |
115 | 116,323 | ||||||
|
4.00%, 10/01/24 |
445 | 451,196 | ||||||
|
4.00%, 11/01/24 |
55 | 55,795 | ||||||
|
5.00%, 03/01/24 |
445 | 455,591 | ||||||
|
5.00%, 04/01/24 |
400 | 410,090 | ||||||
|
5.00%, 05/01/24 |
525 | 538,991 | ||||||
|
5.00%, 08/01/24 |
490 | 505,060 | ||||||
|
5.00%, 09/01/24 |
995 | 1,026,936 | ||||||
|
5.00%, 10/01/24 |
1,125 | 1,162,644 | ||||||
|
5.00%, 11/01/24 |
3,195 | 3,306,274 | ||||||
|
Series A, 5.00%, 10/01/24 |
175 | 180,856 | ||||||
|
Series B, 5.00%, 08/01/24 |
400 | 412,293 | ||||||
|
Series B, 5.00%, 09/01/24 |
880 | 908,245 | ||||||
|
Sunnyvale Elementary School District GO, 5.00%, 09/01/24 |
195 | 201,153 | ||||||
|
University of California RB |
||||||||
|
5.25%, 05/15/44 (PR 05/15/24) |
2,500 | 2,578,338 | ||||||
|
Series AM, 5.00%, 05/15/24 |
460 | 472,690 | ||||||
|
Series AO, 5.00%, 05/15/24 |
600 | 616,553 | ||||||
|
Series AR, 4.00%, 05/15/24 |
300 | 303,812 | ||||||
|
Series AV, 5.00%, 05/15/24 |
230 | 236,345 | ||||||
|
Series AY, 5.00%, 05/15/24 |
185 | 190,104 | ||||||
|
Upper Santa Clara Valley Joint Powers Authority, 5.00%, 08/01/24, (ETM) |
275 | 283,546 | ||||||
| Security | Par (000) |
Value | ||||||
|
California (continued) |
||||||||
|
Walnut Valley Unified School District GO, 0.00%, 08/01/24 (NPFGC)(a) |
$ | 1,170 | $ | 1,103,167 | ||||
|
West Basin Municipal Water District/CA RB, Series A, 5.00%, 08/01/24 |
245 | 252,403 | ||||||
|
William S Hart Union High School District GO, Series B, 0.00%, 08/01/24 (AGM)(a) |
125 | 117,718 | ||||||
|
|
|
|||||||
| 61,529,222 | ||||||||
| Colorado — 0.5% | ||||||||
|
Board of Governors of Colorado State University System RB, Series E-2, 5.00%, 03/01/24 (NPFGC) |
150 | 153,275 | ||||||
|
City & County of Denver Co. Airport System Revenue RB, Series A, 5.00%, 11/15/24 |
210 | 216,483 | ||||||
|
City of Colorado Springs CO Utilities System Revenue RB, Series A-1, 5.00%, 11/15/24 |
25 | 25,847 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/24 |
100 | 102,043 | ||||||
|
County of Boulder CO, 5.00%, 12/01/24 |
390 | 402,678 | ||||||
|
Denver City & County School District No. 1 COP, Series A, 5.00%, 12/01/24 |
70 | 72,347 | ||||||
|
Denver City & County School District No. 1 GO |
||||||||
|
5.00%, 12/01/24 (SAW) |
375 | 387,954 | ||||||
|
Series A, 5.50%, 12/01/24 (SAW) |
405 | 423,031 | ||||||
|
Series B, 5.00%, 12/01/24 (SAW) |
155 | 160,355 | ||||||
|
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/24 (NPFGC)(a) |
25 | 23,290 | ||||||
|
Metro Wastewater Reclamation District RB, Series A, 5.00%, 04/01/24 |
240 | 245,853 | ||||||
|
University of Colorado RB |
||||||||
|
Series B-1, 5.00%, 06/01/24 |
195 | 200,067 | ||||||
|
Series C, VRDN, 2.00%, 06/01/54 (Put 10/15/24)(b) |
250 | 241,403 | ||||||
|
|
|
|||||||
| 2,654,626 | ||||||||
| Connecticut — 1.7% | ||||||||
|
Hartford County Metropolitan District Clean Water Project Revenue RB, Series A, 5.00%, 11/01/34 (PR 11/01/24) |
250 | 258,413 | ||||||
|
State of Connecticut, 5.00%, 01/15/24 |
200 | 204,252 | ||||||
|
State of Connecticut Clean Water Fund-State Revolving Fund, 5.00%, 03/01/24 |
140 | 143,332 | ||||||
|
State of Connecticut GO |
||||||||
|
4.00%, 01/15/24 |
500 | 504,781 | ||||||
|
5.00%, 04/15/24 |
85 | 87,164 | ||||||
|
Series A, 5.00%, 03/01/24 |
105 | 107,458 | ||||||
|
Series A, 5.00%, 03/15/24 |
190 | 194,570 | ||||||
|
Series A, 5.00%, 04/15/24 |
85 | 87,164 | ||||||
|
Series B, 5.00%, 04/15/24 |
330 | 338,401 | ||||||
|
Series B, 5.00%, 05/15/24 |
280 | 287,512 | ||||||
|
Series D, 5.00%, 04/15/24 |
710 | 728,074 | ||||||
|
Series D, 5.00%, 06/15/24 |
130 | 133,661 | ||||||
|
Series D, 5.00%, 07/15/24 |
1,500 | 1,544,254 | ||||||
|
Series D, 5.00%, 08/15/24 |
295 | 304,098 | ||||||
|
Series E, 5.00%, 09/15/24 |
155 | 159,988 | ||||||
|
Series E, 5.00%, 10/15/24 |
225 | 232,542 | ||||||
|
Series F, 5.00%, 11/15/24 |
350 | 361,781 | ||||||
|
State of Connecticut Special Tax Obligation RB, 5.00%, 09/01/24 |
100 | 102,976 | ||||||
|
State of Connecticut Special Tax Revenue, 5.00%, 01/01/24 |
440 | 448,461 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
5.00%, 10/01/24 |
135 | 139,187 | ||||||
|
Series A, 4.00%, 05/01/24 |
60 | 60,614 | ||||||
|
Series A, 5.00%, 05/01/24 |
525 | 537,984 | ||||||
|
Series A, 5.00%, 08/01/24 |
415 | 426,827 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
45 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Connecticut (continued) |
||||||||
|
Series A, 5.00%, 09/01/24 |
$ | 795 | $ | 818,657 | ||||
|
Series B, 5.00%, 08/01/24 |
440 | 452,539 | ||||||
|
|
|
|||||||
| 8,664,690 | ||||||||
| Delaware — 0.7% | ||||||||
|
City of Wilmington DE GO, 4.00%, 12/01/24 |
100 | 101,195 | ||||||
|
County of New Castle DE GO, 5.00%, 10/01/24 |
265 | 273,468 | ||||||
|
Delaware Transportation Authority RB |
||||||||
|
4.00%, 07/01/24 |
335 | 339,291 | ||||||
|
5.00%, 07/01/24 |
805 | 828,248 | ||||||
|
5.00%, 09/01/24 |
500 | 514,609 | ||||||
|
State of Delaware, 5.00%, 07/01/24 |
550 | 565,884 | ||||||
|
State of Delaware GO |
||||||||
|
5.00%, 03/01/24 |
570 | 583,342 | ||||||
|
Series 2009C, 5.00%, 10/01/24 |
220 | 227,237 | ||||||
|
Series A, 5.00%, 10/01/24 |
100 | 103,290 | ||||||
|
Series B, 5.00%, 07/01/27 (PR 07/01/24) |
85 | 87,413 | ||||||
|
|
|
|||||||
| 3,623,977 | ||||||||
| District of Columbia — 1.4% | ||||||||
|
District of Columbia GO |
||||||||
|
Series A, 4.00%, 06/01/24 |
55 | 55,674 | ||||||
|
Series A, 5.00%, 06/01/24 |
410 | 421,293 | ||||||
|
Series A, 5.00%, 10/15/24 |
150 | 155,028 | ||||||
|
Series B, 5.00%, 06/01/24 |
645 | 662,765 | ||||||
|
Series D, 5.00%, 06/01/24 |
715 | 734,693 | ||||||
|
District of Columbia RB |
||||||||
|
5.00%, 03/01/24 |
1,000 | 1,023,406 | ||||||
|
5.00%, 12/01/24 |
125 | 129,089 | ||||||
|
Series A, 5.00%, 12/01/24 |
460 | 475,797 | ||||||
|
Series B, 5.00%, 10/01/24 |
595 | 614,573 | ||||||
|
Series C, 5.00%, 10/01/24 |
805 | 831,481 | ||||||
|
District of Columbia Water & Sewer Authority RB |
||||||||
|
Series A, 5.00%, 10/01/24 |
380 | 392,143 | ||||||
|
Series B, 5.00%, 10/01/24 |
385 | 396,869 | ||||||
|
Metropolitan Washington Airports Authority Aviation Revenue RB, Series B, 5.00%, 10/01/24 |
35 | 36,053 | ||||||
|
Washington Metropolitan Area Transit Authority Dedicated Revenue, 5.00%, 07/15/24 |
1,000 | 1,028,497 | ||||||
|
Washington Metropolitan Area Transit Authority RB, 5.00%, 07/15/24 |
315 | 323,977 | ||||||
|
|
|
|||||||
| 7,281,338 | ||||||||
| Florida — 2.8% | ||||||||
|
Broward County FL Water & Sewer Utility Revenue RB, Series B, 5.00%, 10/01/24 |
130 | 133,521 | ||||||
|
Central Florida Expressway Authority RB, 5.00%, 07/01/24 |
60 | 61,487 | ||||||
|
City of Jacksonville FL RB, Series B, 5.00%, 10/01/24 |
25 | 25,724 | ||||||
|
City of Tampa FL Water & Wastewater System Revenue RB, 5.00%, 10/01/24 |
25 | 25,822 | ||||||
|
County of Hillsborough FL Community Investment Tax Revenue RB, 5.00%, 11/01/24 |
50 | 51,487 | ||||||
|
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/24 |
150 | 154,231 | ||||||
|
County of Miami-Dade FL GO |
||||||||
|
Series A, 5.00%, 07/01/24 |
335 | 344,103 | ||||||
|
Series B, 5.00%, 07/01/24 |
100 | 102,724 | ||||||
|
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/24 |
410 | 421,236 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/24 |
1,195 | 1,232,065 | ||||||
| Security | Par (000) |
Value | ||||||
|
Florida (continued) |
||||||||
|
Series B, 5.00%, 10/01/24 |
$ | 130 | $ | 134,032 | ||||
|
County of Sarasota FL RB, 5.00%, 10/01/24 |
45 | 46,396 | ||||||
|
Florida Department of Environmental Protection RB |
||||||||
|
5.00%, 07/01/24 |
530 | 544,785 | ||||||
|
Series A, 5.00%, 07/01/24 |
1,230 | 1,264,312 | ||||||
|
Florida Municipal Power Agency RB, Series A, 5.00%, 10/01/24 |
20 | 20,590 | ||||||
|
Florida State Development Commission RB, Series A, 5.00%, 07/01/24 |
100 | 102,757 | ||||||
|
Florida’s Turnpike Enterprise RB, Series A, 5.00%, 07/01/24 |
870 | 894,127 | ||||||
|
Hillsborough County School Board COP, Series A, 5.00%, 07/01/24 |
120 | 122,760 | ||||||
|
Lee County School Board (The) COP, 5.00%, 08/01/24 |
100 | 102,850 | ||||||
|
Miami-Dade County Expressway Authority RB, Series B, 5.00%, 07/01/24 |
280 | 285,576 | ||||||
|
Orange County Convention Center/Orlando RB, 5.00%, 10/01/24 |
190 | 195,359 | ||||||
|
Orange County School Board COP |
||||||||
|
Series B, 5.00%, 08/01/24 |
15 | 15,407 | ||||||
|
Series D, 5.00%, 08/01/24 |
50 | 51,356 | ||||||
|
Orlando Utilities Commission RB, Series A, 5.00%, 10/01/24 |
440 | 453,730 | ||||||
|
Palm Beach County School District, 5.00%, 08/01/24 |
500 | 513,820 | ||||||
|
Palm Beach County School District COP, Series B, 5.00%, 08/01/24 |
280 | 287,739 | ||||||
|
Pasco County School Board COP, Series A, 5.00%, 08/01/2 |
60 | 61,648 | ||||||
|
Reedy Creek Improvement District GOL, Series A, 5.00%, 06/01/24 |
190 | 194,672 | ||||||
|
School Board of Miami-Dade County (The) COP |
||||||||
|
Series A, 5.00%, 05/01/24 |
315 | 322,558 | ||||||
|
Series D, 5.00%, 02/01/24 |
680 | 693,709 | ||||||
|
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/24 |
210 | 214,655 | ||||||
|
School District of Broward County/FL COP |
||||||||
|
Series A, 5.00%, 07/01/24 |
615 | 629,945 | ||||||
|
Series B, 5.00%, 07/01/24 |
20 | 20,486 | ||||||
|
Series C, 5.00%, 07/01/24 |
130 | 133,159 | ||||||
|
State of Florida Department of Transportation RB, Series A, 5.00%, 07/01/24 |
365 | 374,347 | ||||||
|
State of Florida Department of Transportation Turnpike System Revenue RB, Series A, 5.00%, 07/01/24 |
235 | 241,517 | ||||||
|
State of Florida GO |
||||||||
|
5.00%, 07/01/24 |
830 | 853,290 | ||||||
|
Seires E, 5.00%, 06/01/24 |
200 | 205,509 | ||||||
|
Series A, 5.00%, 01/01/24 |
195 | 199,019 | ||||||
|
Series A, 5.00%, 07/01/24 |
155 | 159,349 | ||||||
|
Series B, 5.00%, 06/01/24 |
250 | 256,886 | ||||||
|
Series C, 5.00%, 06/01/24 |
220 | 226,060 | ||||||
|
Series F, 5.00%, 06/01/24 |
485 | 498,358 | ||||||
|
State of Florida Lottery Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
680 | 698,747 | ||||||
|
Series B, 5.00%, 07/01/24 |
525 | 539,474 | ||||||
|
Volusia County School Board RB, 5.00%, 10/01/24 |
20 | 20,553 | ||||||
|
|
|
|||||||
| 14,131,937 | ||||||||
| Georgia — 2.3% | ||||||||
|
City of Atlanta Department of Aviation, 5.00%, 07/01/24 |
250 | 256,851 | ||||||
|
City of Atlanta GA, 5.00%, 12/01/24 |
250 | 258,829 | ||||||
|
City of Atlanta GA Airport Passenger Facility Charge RB, Series A, 5.00%, 01/01/24 |
695 | 708,604 | ||||||
|
City of Atlanta GA Department of Aviation RB, 5.00%, 07/01/24 |
100 | 102,740 | ||||||
| 46 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Georgia (continued) |
||||||||
|
City of Atlanta GA GOL, 5.00%, 12/01/32 (PR 12/01/24) |
$ | 930 | $ | 962,887 | ||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
5.00%, 11/01/24 |
600 | 620,073 | ||||||
|
Series B, 5.00%, 11/01/24 |
130 | 134,349 | ||||||
|
County of DeKalb GA GO, 5.00%, 12/01/24 |
130 | 134,464 | ||||||
|
County of Forsyth GA GO, 5.00%, 09/01/24 |
280 | 288,684 | ||||||
|
County of Henry GA GO, 5.00%, 05/01/24 |
200 | 205,241 | ||||||
|
Fayette County School District/GA GO, 5.25%, 09/01/24 (SAW) |
105 | 108,776 | ||||||
|
Forsyth County School District, 4.00%, 02/01/33 (PR 02/01/24) |
3,030 | 3,060,319 | ||||||
|
Georgia Ports Authority RB, 5.00%, 07/01/24 |
200 | 205,678 | ||||||
|
Gwinnett County School District GO, 5.00%, 02/01/24 |
100 | 102,275 | ||||||
|
Gwinnett County Water & Sewerage Authority RB |
||||||||
|
4.00%, 08/01/24 |
1,500 | 1,520,049 | ||||||
|
5.00%, 08/01/24 |
500 | 515,109 | ||||||
|
Metropolitan Atlanta Rapid Transit Authority RB, Series A, 4.00%, 07/01/24 |
290 | 293,245 | ||||||
|
Private Colleges & Universities Authority RB, Series B, 5.00%, 10/01/24 |
100 | 103,177 | ||||||
|
State of Georgia GO |
||||||||
|
Series A, 5.00%, 02/01/24 |
175 | 178,873 | ||||||
|
Series A-1, 5.00%, 02/01/24 |
655 | 669,496 | ||||||
|
Series A-1, 5.00%, 08/01/24 |
165 | 170,014 | ||||||
|
Series C, 5.00%, 07/01/24 |
220 | 226,390 | ||||||
|
Series C-1, 5.00%, 01/01/24 |
190 | 193,938 | ||||||
|
Series C-1, 5.00%, 07/01/24 |
405 | 416,763 | ||||||
|
Series E, 5.00%, 12/01/24 |
320 | 331,447 | ||||||
|
Series F, 5.00%, 01/01/24 |
100 | 102,073 | ||||||
|
|
|
|||||||
| 11,870,344 | ||||||||
| Hawaii — 2.4% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
|
5.00%, 07/01/24 |
75 | 77,104 | ||||||
|
Series A, 5.00%, 07/01/24 |
480 | 493,469 | ||||||
|
Series B, 5.00%, 07/01/24 |
225 | 231,313 | ||||||
|
City & County Honolulu Wastewater System Revenue, 5.00%, 07/01/24 |
250 | 257,015 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
4.00%, 07/01/24 |
210 | 212,520 | ||||||
|
5.00%, 08/01/24 |
325 | 334,541 | ||||||
|
Series A, 5.00%, 09/01/24 |
480 | 494,715 | ||||||
|
Series A, 5.00%, 10/01/24 |
100 | 103,196 | ||||||
|
Series B, 5.00%, 10/01/24 |
105 | 108,355 | ||||||
|
Series C, 5.00%, 10/01/24 |
95 | 98,036 | ||||||
|
Series D, 5.00%, 09/01/24 |
240 | 247,357 | ||||||
|
County of Hawaii HI GO |
||||||||
|
5.00%, 09/01/24 |
670 | 690,419 | ||||||
|
Series A, 5.00%, 09/01/24 |
115 | 118,505 | ||||||
|
Series B, 4.00%, 09/01/24 |
45 | 45,578 | ||||||
|
County of Maui HI GO, 5.00%, 09/01/24 |
35 | 36,073 | ||||||
|
Honolulu City & County Board of Water Supply RB |
||||||||
|
5.00%, 07/01/27 (PR 07/01/24) |
275 | 282,807 | ||||||
|
Series A, 5.00%, 07/01/24 |
150 | 154,086 | ||||||
|
State of Hawaii, 5.00%, 08/01/33 (PR 08/01/24) |
4,500 | 4,633,655 | ||||||
|
State of Hawaii GO |
||||||||
|
5.00%, 04/01/24 |
500 | 512,333 | ||||||
|
Series EO, 5.00%, 08/01/24 |
180 | 185,408 | ||||||
|
Series ET, 5.00%, 10/01/24 |
135 | 139,415 | ||||||
|
Series EY, 5.00%, 10/01/24 |
90 | 92,944 | ||||||
|
Series EZ, 5.00%, 10/01/24 |
815 | 841,657 | ||||||
| Security | Par (000) |
Value | ||||||
|
Hawaii (continued) |
||||||||
|
Series FE, 5.00%, 10/01/24 |
$ | 395 | $ | 407,920 | ||||
|
Series FH, 5.00%, 10/01/24 |
415 | 428,574 | ||||||
|
Series FN, 5.00%, 10/01/24 |
35 | 36,145 | ||||||
|
Series FT, 5.00%, 01/01/24 |
600 | 612,297 | ||||||
|
State of Hawaii State Highway Fund RB, Series B, 5.00%, 01/01/24 |
230 | 234,740 | ||||||
|
|
|
|||||||
| 12,110,177 | ||||||||
| Idaho — 0.3% | ||||||||
|
Idaho Housing & Finance Association RB |
||||||||
|
5.00%, 07/15/24 |
1,710 | 1,756,153 | ||||||
|
Series A, 5.00%, 07/15/24 |
25 | 25,675 | ||||||
|
|
|
|||||||
| 1,781,828 | ||||||||
| Illinois — 2.2% | ||||||||
|
Chicago O’Hare International Airport, Series B, 5.00%, 01/01/24 |
130 | 132,560 | ||||||
|
Chicago O’Hare International Airport RB |
||||||||
|
Series B, 5.00%, 01/01/24 |
625 | 637,306 | ||||||
|
Series C, 5.00%, 01/01/24 |
265 | 270,217 | ||||||
|
Series D, 5.00%, 01/01/24 |
175 | 178,446 | ||||||
|
Series E, 5.00%, 01/01/24 |
940 | 958,508 | ||||||
|
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/24 |
130 | 132,854 | ||||||
|
Illinois Finance Authority RB |
||||||||
|
5.00%, 01/01/24 |
510 | 519,397 | ||||||
|
5.00%, 07/01/24 |
960 | 984,739 | ||||||
|
Series A, 5.00%, 10/01/24 |
375 | 386,843 | ||||||
|
Illinois State Toll Highway Authority RB |
||||||||
|
5.00%, 01/01/24 |
160 | 163,169 | ||||||
|
Series D, 5.00%, 01/01/24 |
1,645 | 1,677,579 | ||||||
|
Metropolitan Water Reclamation District of Greater Chicago GOL, Series C, 5.00%, 12/01/24 |
375 | 386,429 | ||||||
|
State of Illinois GO |
||||||||
|
5.00%, 02/01/24 |
725 | 731,106 | ||||||
|
5.00%, 03/01/24 |
500 | 504,270 | ||||||
|
5.00%, 04/01/24 |
605 | 610,214 | ||||||
|
5.00%, 05/01/24 |
720 | 726,234 | ||||||
|
Series A, 4.00%, 05/01/24 |
295 | 293,326 | ||||||
|
Series A, 5.00%, 03/01/24 |
130 | 131,110 | ||||||
|
Series A, 5.00%, 10/01/24 |
65 | 65,569 | ||||||
|
Series A, 5.00%, 11/01/24 |
250 | 252,172 | ||||||
|
Series A, 5.00%, 12/01/24 |
50 | 50,420 | ||||||
|
Series B, 5.00%, 12/01/24 |
150 | 151,261 | ||||||
|
Series D, 5.00%, 11/01/24 |
1,135 | 1,144,860 | ||||||
|
State of Illinois RB |
||||||||
|
Series C, 4.00%, 06/15/24 |
25 | 24,964 | ||||||
|
Series C, 5.00%, 06/15/24 |
200 | 202,812 | ||||||
|
Series D, 5.00%, 06/15/24 |
75 | 76,054 | ||||||
|
|
|
|||||||
| 11,392,419 | ||||||||
| Indiana — 1.4% | ||||||||
|
Ball State University RB, 5.00%, 07/01/24 |
195 | 200,121 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 10/01/24 |
1,150 | 1,186,533 | ||||||
|
Series A, 5.00%, 02/01/24 |
320 | 327,043 | ||||||
|
Series A, 5.00%, 10/01/24 |
230 | 237,306 | ||||||
|
Series B, 5.00%, 02/01/24 |
335 | 342,373 | ||||||
|
Series C, 5.00%, 12/01/24 |
1,755 | 1,818,137 | ||||||
|
Indiana Municipal Power Agency RB |
||||||||
|
5.00%, 01/01/24 |
270 | 275,347 | ||||||
|
Series C, 5.00%, 01/01/24 |
465 | 474,209 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
47 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Indiana (continued) |
||||||||
|
Indiana Transportation Finance Authority RB, Series C, 5.50%, 12/01/24 (NPFGC) |
$ | 300 | $ | 313,541 | ||||
|
Indiana University RB |
||||||||
|
Series A, 5.00%, 06/01/24 |
175 | 179,793 | ||||||
|
Series W-2, 5.00%, 08/01/24 |
190 | 195,709 | ||||||
|
Series X, 5.00%, 08/01/24 |
160 | 164,807 | ||||||
|
Indianapolis Local Public Improvement Bond Bank RB, Series A, 5.00%, 01/15/24 |
345 | 352,171 | ||||||
|
Purdue University COP, Series A, 5.00%, 07/01/24 |
205 | 210,584 | ||||||
|
Purdue University RB |
||||||||
|
5.25%, 07/01/24 |
100 | 103,125 | ||||||
|
Series A, 5.00%, 07/01/24 |
200 | 205,547 | ||||||
|
Series DD, 5.00%, 07/01/24 |
280 | 287,765 | ||||||
|
|
|
|||||||
| 6,874,111 | ||||||||
| Iowa — 0.3% | ||||||||
|
Iowa Finance Authority RB, 5.00%, 08/01/24 |
875 | 901,441 | ||||||
|
State of Iowa RB |
||||||||
|
5.00%, 06/15/24 |
375 | 384,486 | ||||||
|
Series A, 5.00%, 06/01/24 |
155 | 158,835 | ||||||
|
|
|
|||||||
| 1,444,762 | ||||||||
| Kansas — 0.4% | ||||||||
|
City of Merriam KS GO, 5.00%, 10/01/24 |
125 | 129,065 | ||||||
|
City of Wichita KS Water & Sewer Utility Revenue RB, Series A, 5.00%, 10/01/24 |
200 | 206,203 | ||||||
|
Johnson County Unified School District No. 229 Blue Valley GO, Series B, 5.00%, 10/01/24 |
70 | 72,250 | ||||||
|
Johnson County Water District No. 1 RB, 5.00%, 01/01/24 |
105 | 107,067 | ||||||
|
Kansas Development Finance Authority RB, 5.00%, 05/01/24 |
400 | 410,482 | ||||||
|
Sedgwick County Unified School District No. 259 Wichita GO, Series A, 4.00%, 10/01/24 |
130 | 131,738 | ||||||
|
Sedgwick County Unified School District No. 262 Valley Center GO, 3.00%, 09/01/36 (PR 09/01/24) |
240 | 238,351 | ||||||
|
State of Kansas Department of Transportation RB, Series A, 5.00%, 09/01/24 |
770 | 793,051 | ||||||
|
|
|
|||||||
| 2,088,207 | ||||||||
| Kentucky — 0.1% | ||||||||
|
Kentucky Turnpike Authority RB, 5.00%, 07/01/24 |
175 | 179,682 | ||||||
|
Louisville & Jefferson County Metropolitan Sewer District RB, 5.00%, 05/15/24 |
280 | 287,512 | ||||||
|
|
|
|||||||
| 467,194 | ||||||||
| Louisiana — 1.1% | ||||||||
|
Louisiana Local Government Environmental Facilities & Community Development Authority RB, 5.00%, 10/01/33 (PR 10/01/24) |
2,000 | 2,064,663 | ||||||
|
Louisiana State University & Agricultural & Mechanical College RB, 5.00%, 07/01/34 (PR 07/01/24) |
1,000 | 1,027,569 | ||||||
|
St Tammany Parish Wide School District No. 12 GO, 5.00%, 03/01/27 (PR 03/01/24) |
1,125 | 1,150,888 | ||||||
|
State of Louisiana GO |
||||||||
|
5.00%, 05/01/24 |
225 | 230,697 | ||||||
|
Series A, 5.00%, 04/01/24 |
500 | 511,984 | ||||||
|
Series A, 5.00%, 09/01/24 |
140 | 144,267 | ||||||
|
Series B, 5.00%, 05/01/24 |
25 | 25,633 | ||||||
|
Series C, 5.00%, 08/01/24 |
100 | 102,919 | ||||||
|
Series D-2, 5.00%, 12/01/24 |
150 | 155,212 | ||||||
|
State of Louisiana RB, 5.00%, 09/01/24 |
110 | 113,234 | ||||||
|
|
|
|||||||
| 5,527,066 | ||||||||
| Maine — 0.6% | ||||||||
|
City of Portland ME GO, 5.00%, 10/01/24 |
170 | 175,496 | ||||||
| Security | Par (000) |
Value | ||||||
|
Maine (continued) |
||||||||
|
Maine Municipal Bond Bank, 5.00%, 09/01/24 |
$ | 105 | $ | 107,936 | ||||
|
Maine Municipal Bond Bank RB |
||||||||
|
Series A, 5.00%, 09/01/24 |
130 | 133,542 | ||||||
|
Series A, 5.00%, 11/01/24 |
165 | 170,552 | ||||||
|
Series B, 5.00%, 11/01/24 |
110 | 113,702 | ||||||
|
Series C, 5.00%, 11/01/24 |
435 | 449,528 | ||||||
|
Series D, 5.00%, 11/01/24 |
75 | 77,524 | ||||||
|
Maine Turnpike Authority, 5.00%, 07/01/24 |
195 | 200,344 | ||||||
|
Maine Turnpike Authority RB, 5.00%, 07/01/24 |
125 | 128,426 | ||||||
|
State of Maine GO, Series B, 5.00%, 06/01/24 |
1,230 | 1,264,069 | ||||||
|
|
|
|||||||
| 2,821,119 | ||||||||
| Maryland — 4.1% | ||||||||
|
City of Baltimore MD RB, Series A, 5.00%, 07/01/24 |
300 | 307,437 | ||||||
|
County of Anne Arundel MD GOL, 5.00%, 10/01/24 |
1,275 | 1,316,942 | ||||||
|
County of Baltimore MD GO |
||||||||
|
5.00%, 02/01/24 |
100 | 102,201 | ||||||
|
5.00%, 03/01/24 |
705 | 721,501 | ||||||
|
5.00%, 08/01/24 |
320 | 329,670 | ||||||
|
County of Carroll MD GO, 5.00%, 11/01/24 |
225 | 232,704 | ||||||
|
County of Charles MD GO, 5.00%, 10/01/24 |
100 | 103,290 | ||||||
|
County of Frederick MD GO, Series A, 5.00%, 08/01/24 |
25 | 25,734 | ||||||
|
County of Howard MD GO |
||||||||
|
5.00%, 02/15/24 |
1,300 | 1,330,117 | ||||||
|
Series A, 5.00%, 02/15/24 |
295 | 301,834 | ||||||
|
Series A, 5.00%, 08/15/24 |
250 | 257,886 | ||||||
|
Series B, 5.00%, 02/15/24 |
50 | 51,158 | ||||||
|
Series C, 5.00%, 02/15/24 |
75 | 76,737 | ||||||
|
County of Montgomery MD, 5.00%, 11/01/27 (PR 11/01/24) |
830 | 858,418 | ||||||
|
County of Montgomery MD GO |
||||||||
|
Series A, 4.00%, 11/01/31 (PR 11/01/24) |
1,000 | 1,014,463 | ||||||
|
Series A, 5.00%, 11/01/24 |
750 | 775,679 | ||||||
|
Series A, 5.00%, 12/01/24 |
125 | 129,446 | ||||||
|
Series A, 5.00%, 11/01/26 (PR 11/01/24) |
465 | 480,921 | ||||||
|
Series B, 5.00%, 06/01/24 |
235 | 241,473 | ||||||
|
Series B, 5.00%, 11/01/24 |
50 | 51,712 | ||||||
|
County of Montgomery MD Water Quality Protection Charge Revenue RB, 5.00%, 04/01/24 |
120 | 122,893 | ||||||
|
County of Prince George’s MD, 5.00%, 07/01/24 |
900 | 925,992 | ||||||
|
County of Prince George’s MD GOL |
||||||||
|
Series A, 4.00%, 09/01/24 |
430 | 435,987 | ||||||
|
Series A, 5.00%, 07/15/24 |
470 | 483,866 | ||||||
|
Series B, 5.00%, 07/15/24 |
225 | 231,638 | ||||||
|
Maryland Health & Higher Educational Facilities Authority RB, 5.25%, 07/01/27 (PR 07/01/24) |
1,500 | 1,547,374 | ||||||
|
Maryland State Transportation Authority RB, Series A, 5.00%, 07/01/24 |
155 | 159,476 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
4.00%, 09/01/24 |
235 | 238,188 | ||||||
|
5.00%, 05/01/24 |
205 | 210,312 | ||||||
|
5.00%, 09/01/24 |
240 | 247,487 | ||||||
|
5.00%, 10/01/24 |
730 | 753,739 | ||||||
|
5.00%, 11/01/24 |
340 | 351,308 | ||||||
|
State of Maryland GO |
||||||||
|
First Series, 5.00%, 06/01/24 |
460 | 472,670 | ||||||
|
Series A, 5.00%, 03/15/24 |
485 | 496,668 | ||||||
|
Series A, 5.00%, 08/01/24 |
220 | 226,648 | ||||||
|
Series B, 4.00%, 08/01/24 |
375 | 380,012 | ||||||
|
Series B, 5.00%, 08/01/24 |
2,430 | 2,503,428 | ||||||
|
Series C, 5.00%, 08/01/24 |
1,025 | 1,055,973 | ||||||
|
Series C-2, 5.00%, 08/01/24 |
535 | 551,166 | ||||||
| 48 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Maryland (continued) |
||||||||
|
Washington Suburban Sanitary Commission RB |
||||||||
|
4.00%, 06/01/24 |
$ | 90 | $ | 91,103 | ||||
|
5.00%, 06/01/24 |
555 | 570,286 | ||||||
|
5.00%, 06/15/24 (GTD) |
145 | 149,084 | ||||||
|
|
|
|||||||
| 20,914,621 | ||||||||
| Massachusetts — 3.4% | ||||||||
|
City of Boston MA, 5.00%, 04/01/24 |
1,000 | 1,024,526 | ||||||
|
City of Boston MA GO |
||||||||
|
Series A, 5.00%, 03/01/24 |
95 | 97,199 | ||||||
|
Series A, 5.00%, 11/01/24 |
700 | 724,242 | ||||||
|
Series B, 5.00%, 04/01/24 |
85 | 87,085 | ||||||
|
Series D, 5.00%, 03/01/24 |
250 | 255,786 | ||||||
|
Commonwealth of Massachusetts, 5.00%, 04/01/24 |
155 | 158,845 | ||||||
|
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/24 |
280 | 287,752 | ||||||
|
Commonwealth of Massachusetts GO |
||||||||
|
Series C, 5.00%, 10/01/24 |
100 | 103,290 | ||||||
|
Series C, 5.50%, 12/01/24 (AMBAC) |
135 | 141,121 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
5.00%, 01/01/24 |
1,700 | 1,735,038 | ||||||
|
Series 7, 5.00%, 07/01/24 |
130 | 133,754 | ||||||
|
Series A, 5.00%, 01/01/24 |
250 | 255,153 | ||||||
|
Series A, 5.00%, 07/01/24 |
80 | 82,310 | ||||||
|
Series B, 5.00%, 07/01/24 |
1,310 | 1,347,832 | ||||||
|
Series B, 5.00%, 11/01/24 |
1,000 | 1,034,239 | ||||||
|
Series B, 5.25%, 09/01/24 (AGM) |
1,355 | 1,403,731 | ||||||
|
Series C, 5.00%, 07/01/24 |
60 | 61,733 | ||||||
|
Series C, 5.00%, 10/01/24 |
375 | 387,336 | ||||||
|
Series F, 5.00%, 05/01/24 |
100 | 102,621 | ||||||
|
Series H, 5.00%, 12/01/24 |
375 | 388,261 | ||||||
|
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/24 |
215 | 220,587 | ||||||
|
Massachusetts Bay Transportation Authority RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
1,475 | 1,517,598 | ||||||
|
Series B, 5.00%, 07/01/24 |
105 | 108,032 | ||||||
|
Series C, 5.50%, 07/01/24 |
300 | 311,074 | ||||||
|
Massachusetts Bay Transportation Authority Sales Tax Revenue RB, Series B, 5.50%, 07/01/24 (NPFGC) |
215 | 222,937 | ||||||
|
Massachusetts Clean Water Trust (The) RB |
||||||||
|
5.00%, 08/01/24 |
435 | 448,144 | ||||||
|
Series 2017, 5.00%, 08/01/24 |
375 | 386,331 | ||||||
|
Series 21, 5.00%, 08/01/24 |
200 | 206,043 | ||||||
|
Series 22, 5.00%, 08/01/24 |
675 | 695,397 | ||||||
|
Massachusetts School Building Authority RB |
||||||||
|
5.00%, 11/15/24 |
380 | 392,866 | ||||||
|
Series C, 5.00%, 08/15/24 |
255 | 262,640 | ||||||
|
Massachusetts State College Building Authority, 5.00%, 05/01/24 (ST INTERCEPT) |
200 | 204,976 | ||||||
|
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/24 |
175 | 178,446 | ||||||
|
Massachusetts Water Resources Authority |
||||||||
|
5.00%, 08/01/24 |
155 | 159,623 | ||||||
|
5.00%, 08/01/24 (ETM) |
310 | 319,017 | ||||||
|
Massachusetts Water Resources Authority RB |
||||||||
|
5.00%, 08/01/24 (ETM) |
285 | 293,465 | ||||||
|
Series B, 5.00%, 08/01/24 |
345 | 355,135 | ||||||
|
Series C, 5.00%, 08/01/24 |
655 | 674,077 | ||||||
| Security | Par (000) |
Value | ||||||
|
Massachusetts (continued) |
||||||||
|
University of Massachusetts Building Authority RB, Series 2021-1, 5.00%, 11/01/24 |
$ | 285 | $ | 294,479 | ||||
|
|
|
|||||||
| 17,062,721 | ||||||||
| Michigan — 1.5% | ||||||||
|
Chippewa Valley Schools GO, Series B, 5.00%, 05/01/24 (Q-SBLF) |
250 | 255,447 | ||||||
|
Michigan Finance Authority RB |
||||||||
|
5.00%, 10/01/24 |
140 | 144,132 | ||||||
|
Series B, 5.00%, 10/01/24 |
195 | 200,756 | ||||||
|
Series C-3, 5.00%, 07/01/24 (AGM) |
115 | 118,020 | ||||||
|
Michigan State Building Authority RB |
||||||||
|
4.00%, 10/15/24 |
150 | 151,615 | ||||||
|
5.00%, 04/15/24 |
380 | 388,912 | ||||||
|
Series I, 5.00%, 04/15/24 |
720 | 736,886 | ||||||
|
Oxford Area Community School District GO, Series A, 5.00%, 05/01/24 |
15 | 15,353 | ||||||
|
Royal Oak Hospital Finance Authority RB, 5.00%, 09/01/39 (PR 03/01/24) |
2,050 | 2,095,827 | ||||||
|
State of Michigan Comprehensive Transportation Revenue RB, 5.00%, 11/15/24 |
130 | 134,272 | ||||||
|
State of Michigan GO, Series A, 5.00%, 12/01/24 |
220 | 227,825 | ||||||
|
State of Michigan RB, 5.00%, 03/15/24 |
1,735 | 1,773,927 | ||||||
|
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/24 |
780 | 806,722 | ||||||
|
University of Michigan, 5.00%, 04/01/24 |
250 | 256,167 | ||||||
|
University of Michigan RB |
||||||||
|
Series A, 5.00%, 04/01/24 |
140 | 143,453 | ||||||
|
Serise A, 5.00%, 04/01/24 |
185 | 189,563 | ||||||
|
Wayne County Airport Authority RB, Series C, 5.00%, 12/01/24 |
50 | 51,443 | ||||||
|
|
|
|||||||
| 7,690,320 | ||||||||
| Minnesota — 1.2% | ||||||||
|
City of Minneapolis MN GO, 5.00%, 12/01/24 |
400 | 414,227 | ||||||
|
County of Hennepin MN GO, Series A, 5.00%, 12/01/24 |
350 | 361,449 | ||||||
|
Metropolitan Council GO |
||||||||
|
Series A, 5.00%, 03/01/24 |
50 | 51,183 | ||||||
|
Series C, 5.00%, 03/01/24 |
235 | 240,563 | ||||||
|
Series E, 5.00%, 12/01/24 |
255 | 263,965 | ||||||
|
Minneapolis-St Paul Metropolitan Airports Commission RB |
||||||||
|
5.00%, 01/01/24 |
200 | 203,547 | ||||||
|
Series B, 5.00%, 01/01/24 |
265 | 269,700 | ||||||
|
Minnesota Municipal Power Agency RB, Series A, 5.00%, 10/01/24 |
155 | 159,633 | ||||||
|
Minnesota Public Facilities Authority RB, Series B, 3.00%, 03/01/24 |
500 | 498,012 | ||||||
|
Rosemount-Apple Valley-Eagan Independent School District No. 196 GO, Series A, 5.00%, 02/01/24 |
115 | 117,432 | ||||||
|
Southern Minnesota Municipal Power Agency RB, Series A, 4.00%, 01/01/24 |
100 | 100,700 | ||||||
|
State of Minnesota |
||||||||
|
5.00%, 08/01/24 |
110 | 113,324 | ||||||
|
5.00%, 09/01/24 |
250 | 257,889 | ||||||
|
State of Minnesota GO |
||||||||
|
Series A, 5.00%, 08/01/24 |
1,860 | 1,916,204 | ||||||
|
Series B, 5.00%, 08/01/24 |
205 | 211,195 | ||||||
|
Series B, 5.00%, 10/01/24 |
155 | 160,099 | ||||||
|
Series D, 5.00%, 08/01/24 |
710 | 731,454 | ||||||
|
Series E, 5.00%, 10/01/24 |
75 | 77,467 | ||||||
|
|
|
|||||||
| 6,148,043 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
49 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Mississippi — 0.1% |
||||||||
|
State of Mississippi GO |
||||||||
|
Series B, 5.00%, 09/01/24 |
$ | 50 | $ | 51,578 | ||||
|
Series C, 4.00%, 10/01/24 |
45 | 45,568 | ||||||
|
Series C, 5.00%, 10/01/24 |
505 | 521,612 | ||||||
|
|
|
|||||||
| 618,758 | ||||||||
| Missouri — 0.9% | ||||||||
|
City of Springfield MO Public Utility Revenue RB, 5.00%, 08/01/24 |
200 | 205,700 | ||||||
|
Metropolitan St Louis Sewer District RB, 5.00%, 05/01/24 |
150 | 153,887 | ||||||
|
Missouri Highway & Transportation Commission RB |
||||||||
|
Series A, 5.00%, 05/01/24 |
775 | 794,852 | ||||||
|
Series A, Series A, 5.00%, 05/01/24 |
130 | 133,330 | ||||||
|
Series B, 5.00%, 05/01/24 |
110 | 112,818 | ||||||
|
Missouri State Board of Public Buildings RB |
||||||||
|
Series A, 4.00%, 04/01/24 |
280 | 282,912 | ||||||
|
Series A, 5.00%, 04/01/24 |
1,070 | 1,095,795 | ||||||
|
Series B, 5.00%, 04/01/24 |
125 | 128,013 | ||||||
|
Missouri State Environmental Improvement & Energy Resources Authority RB |
||||||||
|
Series A, 5.00%, 01/01/24 |
1,000 | 1,020,265 | ||||||
|
Series B, 4.00%, 07/01/24 |
95 | 96,171 | ||||||
|
University of Missouri RB, Series A, 5.00%, 11/01/24 |
465 | 480,010 | ||||||
|
|
|
|||||||
| 4,503,753 | ||||||||
| Nebraska — 0.8% | ||||||||
|
City of Omaha NE GO |
||||||||
|
Series A, 5.00%, 01/15/24 |
150 | 153,100 | ||||||
|
Series B, 5.00%, 04/15/24 |
175 | 179,330 | ||||||
|
Series B, 5.00%, 11/15/24 |
25 | 25,836 | ||||||
|
Series B, 5.00%, 11/15/26 (PR 11/15/24) |
50 | 51,714 | ||||||
|
Nebraska Public Power District RB |
||||||||
|
Series A-1, 5.00%, 01/01/24 |
340 | 346,694 | ||||||
|
Series C, 5.00%, 01/01/24 |
1,100 | 1,121,658 | ||||||
|
Omaha Public Power District Nebraska City Station Unit 2 RB, Series A, 5.00%, 02/01/24 |
155 | 158,125 | ||||||
|
Omaha Public Power District RB |
||||||||
|
Series A, 5.00%, 02/01/24 |
475 | 485,130 | ||||||
|
Series B, 5.00%, 02/01/31 (PR 08/01/24) |
1,240 | 1,275,764 | ||||||
|
University of Nebraska Facilities Corp. RB, 5.00%, 07/15/24 |
490 | 503,799 | ||||||
|
|
|
|||||||
| 4,301,150 | ||||||||
| Nevada — 2.0% | ||||||||
|
Clark County School District, 5.00%, 06/15/24 (AGM) |
880 | 901,981 | ||||||
|
Clark County School District GOL |
||||||||
|
Series B, 5.00%, 06/15/24 |
185 | 189,474 | ||||||
|
Series C, 5.00%, 06/15/24 |
610 | 624,752 | ||||||
|
Clark County Water Reclamation District GOL, 5.00%, 07/01/24 |
215 | 220,751 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 06/01/24 |
90 | 92,409 | ||||||
|
5.00%, 11/01/24 |
195 | 201,371 | ||||||
|
5.00%, 12/01/24 |
265 | 273,993 | ||||||
|
Series A, 5.00%, 06/01/24 |
165 | 169,339 | ||||||
|
Series A, 5.00%, 11/01/24 |
210 | 216,861 | ||||||
|
Series B, 5.00%, 11/01/24 |
255 | 263,331 | ||||||
|
Serise A, 5.00%, 12/01/24 |
100 | 103,393 | ||||||
|
County of Clark NV Passenger Facility Charge Revenue RB |
||||||||
|
5.00%, 07/01/24 |
840 | 862,333 | ||||||
|
Series C, 5.00%, 07/01/24 |
365 | 374,704 | ||||||
|
County of Clark NV RB |
||||||||
|
5.00%, 07/01/24 |
985 | 1,011,833 | ||||||
| Security | Par (000) |
Value | ||||||
|
Nevada (continued) |
||||||||
|
Series A, 5.00%, 07/01/24 |
$ | 155 | $ | 159,222 | ||||
|
Las Vegas Valley Water District, 5.00%, 12/01/24 |
150 | 155,121 | ||||||
|
Las Vegas Valley Water District GOL |
||||||||
|
5.00%, 06/01/24 |
515 | 528,864 | ||||||
|
Series A, 5.00%, 02/01/24 |
150 | 153,227 | ||||||
|
Series B, 5.00%, 06/01/24 |
1,290 | 1,324,727 | ||||||
|
Nevada System of Higher Education RB, Series A, 5.00%, 07/01/24 |
140 | 143,608 | ||||||
|
State of Nevada GOL |
||||||||
|
Series A, 5.00%, 05/01/24 |
170 | 174,330 | ||||||
|
Series B, 5.00%, 11/01/24 |
270 | 278,980 | ||||||
|
Series D, 5.00%, 04/01/24 |
775 | 793,683 | ||||||
|
State of Nevada Highway Improvement Revenue RB |
||||||||
|
5.00%, 12/01/24 |
495 | 512,100 | ||||||
|
Series A, Series A, 5.00%, 12/01/24 |
100 | 103,557 | ||||||
|
Washoe County School District/NV GOL, Series A, 5.00%, 06/01/24 |
105 | 107,729 | ||||||
|
|
|
|||||||
| 9,941,673 | ||||||||
| New Hampshire — 0.1% | ||||||||
|
New Hampshire Health and Education Facilities Authority Act RB, 5.00%, 07/01/24 |
50 | 51,338 | ||||||
|
New Hampshire Municipal Bond Bank RB |
||||||||
|
Series B, 5.00%, 08/15/24 |
50 | 51,533 | ||||||
|
Series E, 5.00%, 08/15/24 |
15 | 15,452 | ||||||
|
State of New Hampshire GO, Series B, 5.00%, 12/01/24 |
210 | 217,469 | ||||||
|
|
|
|||||||
| 335,792 | ||||||||
| New Jersey — 1.9% | ||||||||
|
County of Essex NJ GO, Series B, 5.00%, 09/01/24 (SCH BD RES FD) |
110 | 113,372 | ||||||
|
County of Monmouth NJ, 5.00%, 07/15/24 |
145 | 149,521 | ||||||
|
County of Monmouth NJ Go, 5.00%, 07/15/24 |
470 | 484,656 | ||||||
|
Monmouth County Improvement Authority (The) RB |
||||||||
|
5.00%, 12/01/24 (GTD) |
90 | 93,201 | ||||||
|
Series A, 4.00%, 08/01/24 |
400 | 405,346 | ||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/24 |
110 | 112,609 | ||||||
|
New Jersey Economic Development Authority RB |
||||||||
|
Series AAA, 4.00%, 06/15/24 |
120 | 120,483 | ||||||
|
Series N-1, 5.50%, 09/01/24 (AMBAC) |
55 | 56,686 | ||||||
|
Series PP, 5.00%, 06/15/27 (PR 06/15/24) |
2,280 | 2,343,193 | ||||||
|
Series UU, 5.00%, 06/15/24 |
190 | 193,722 | ||||||
|
Series XX, 4.00%, 06/15/24 (SAP) |
725 | 727,920 | ||||||
|
Series XX, 5.00%, 06/15/24 (SAP) |
135 | 137,645 | ||||||
|
New Jersey Educational Facilities Authority RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
105 | 108,032 | ||||||
|
Series A, 5.00%, 09/01/24 |
270 | 275,910 | ||||||
|
Series B, 5.00%, 07/01/24 |
110 | 113,177 | ||||||
|
Series I, 5.00%, 07/01/24 |
170 | 174,910 | ||||||
|
New Jersey Transportation Trust Fund Authority RB |
||||||||
|
Series A, 5.00%, 06/15/24 |
840 | 856,802 | ||||||
|
Series A-1, 5.00%, 06/15/24 |
400 | 408,089 | ||||||
|
Series AA, 4.00%, 06/15/24 |
165 | 165,664 | ||||||
|
Series AA, 5.00%, 06/15/24 |
180 | 183,527 | ||||||
|
New Jersey Turnpike Authority RB, Series C, 5.00%, 01/01/24 |
140 | 142,563 | ||||||
|
State of New Jersey GO |
||||||||
|
5.00%, 06/01/24 |
470 | 481,119 | ||||||
|
Series A, 5.00%, 06/01/24 |
1,575 | 1,612,260 | ||||||
| 50 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
New Jersey (continued) |
||||||||
|
Township of Union NJ/Union County GO, 3.00%, 01/15/24 |
$ | 150 | $ | 149,679 | ||||
|
|
|
|||||||
| 9,610,086 | ||||||||
| New Mexico — 1.0% | ||||||||
|
New Mexico Finance Authority RB |
||||||||
|
5.00%, 06/01/24 |
150 | 154,108 | ||||||
|
Series A, 5.00%, 06/01/24 |
260 | 267,121 | ||||||
|
Series A, 5.00%, 06/15/24 |
800 | 822,404 | ||||||
|
Series D, 5.00%, 06/15/24 |
95 | 97,661 | ||||||
|
State of New Mexico GO |
||||||||
|
5.00%, 03/01/24 |
145 | 148,375 | ||||||
|
Series A, 5.00%, 03/01/24 |
675 | 690,710 | ||||||
|
Series B, 5.00%, 03/01/24 |
265 | 271,168 | ||||||
|
State of New Mexico Severance Tax Permanent Fund RB |
||||||||
|
5.00%, 07/01/24 |
1,400 | 1,439,284 | ||||||
|
Series A, 5.00%, 07/01/24 |
670 | 688,800 | ||||||
|
Series B, 4.00%, 07/01/24 |
570 | 576,839 | ||||||
|
|
|
|||||||
| 5,156,470 | ||||||||
| New York — 8.7% | ||||||||
|
City of New York NY GO |
||||||||
|
Series 1, 5.00%, 08/01/24 |
645 | 664,490 | ||||||
|
Series A, 5.00%, 08/01/24 |
1,430 | 1,473,211 | ||||||
|
Series A-1, 5.00%, 08/01/24 |
295 | 303,914 | ||||||
|
Series A-2015, 2.50%, 08/01/24 |
300 | 294,737 | ||||||
|
Series A-2015, 5.00%, 08/01/24 |
230 | 236,950 | ||||||
|
Series B, 5.00%, 08/01/24 |
100 | 103,022 | ||||||
|
Series B-1, 5.00%, 12/01/24 |
50 | 51,697 | ||||||
|
Series C, 5.00%, 08/01/24 |
2,220 | 2,287,082 | ||||||
|
Series D, 4.00%, 08/01/24 |
120 | 121,462 | ||||||
|
Series E, 5.00%, 08/01/24 |
685 | 705,699 | ||||||
|
Series I, 5.00%, 03/01/24 |
180 | 184,213 | ||||||
|
Series J, 5.00%, 08/01/24 |
525 | 540,864 | ||||||
|
Series J-4, 4.00%, 08/01/24 |
100 | 101,219 | ||||||
|
Series J-4, 5.00%, 08/01/24 |
125 | 128,777 | ||||||
|
County of Monroe NY GOL, 5.00%, 06/01/24 |
1,000 | 1,027,076 | ||||||
|
County of Nassau NY, 5.00%, 04/01/26 (PR 04/01/24) |
465 | 476,340 | ||||||
|
County of Onondaga NY GOL, 5.00%, 05/01/24 |
60 | 61,519 | ||||||
|
County of Westchester NY GOL |
||||||||
|
Series A, 5.00%, 01/01/24 |
445 | 454,172 | ||||||
|
Series A, 5.00%, 12/01/24 |
125 | 129,599 | ||||||
|
Erie County Industrial Development Agency (The) RB, 5.00%, 05/01/24 (SAW) |
250 | 256,293 | ||||||
|
Hudson Yards Infrastructure Corp. RB, Series A, 5.00%, 02/15/24 |
245 | 250,240 | ||||||
|
Long Island Power Authority RB |
||||||||
|
Series A, 0.00%, 12/01/24 (AGM)(a) |
50 | 46,444 | ||||||
|
Series A, 5.00%, 09/01/24 |
155 | 159,584 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
Series A-1, 4.00%, 11/15/24 |
130 | 130,206 | ||||||
|
Series A-1, 5.00%, 11/15/24 |
280 | 285,872 | ||||||
|
Series A2, 5.00%, 11/15/24 |
25 | 25,524 | ||||||
|
Series A-2, 5.00%, 11/15/24 |
90 | 91,888 | ||||||
|
Series B, 5.00%, 11/15/24 |
645 | 658,528 | ||||||
|
Series B, 5.25%, 11/15/24 (AMBAC) |
100 | 102,726 | ||||||
|
Series B-1, 5.00%, 11/15/24 |
190 | 196,053 | ||||||
|
Series B-2, 5.00%, 11/15/24 |
185 | 190,893 | ||||||
|
Series C, 5.00%, 11/15/24 |
190 | 193,985 | ||||||
|
Series C-1, 5.00%, 11/15/24 |
855 | 872,932 | ||||||
|
Series F, 5.00%, 11/15/24 |
145 | 148,041 | ||||||
| Security | Par (000) |
Value | ||||||
|
New York (continued) |
||||||||
|
Nassau County Interim Finance Authority RB, Series A, 5.00%, 11/15/24 |
$ | 200 | $ | 207,012 | ||||
|
New York City Municipal Water Finance Authority RB |
||||||||
|
5.00%, 06/15/24 |
515 | 530,081 | ||||||
|
Series AA, 4.00%, 06/15/24 |
120 | 121,634 | ||||||
|
Series AA, 5.00%, 06/15/24 |
2,090 | 2,151,201 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue, 5.00%, 07/15/24 (SAW) |
545 | 560,348 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
Series S, 4.00%, 07/15/24 (SAW) |
140 | 141,764 | ||||||
|
Series S, 5.00%, 07/15/24 (SAW) |
115 | 118,239 | ||||||
|
Series S, 5.00%, 07/15/24 (ETM) (SAW) |
435 | 446,900 | ||||||
|
Series S1, 5.00%, 07/15/24 (SAW) |
105 | 107,957 | ||||||
|
Series S-1, 5.00%, 07/15/24 (SAW) |
310 | 318,935 | ||||||
|
Series S-3, 5.00%, 07/15/24 (SAW) |
100 | 102,816 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
5.00%, 02/01/24 |
280 | 286,024 | ||||||
|
5.00%, 11/01/24 |
2,950 | 3,045,803 | ||||||
|
Series A-1, 5.00%, 08/01/24 |
670 | 689,784 | ||||||
|
Series B1, 5.00%, 08/01/24 |
180 | 185,315 | ||||||
|
Series C, 5.00%, 11/01/24 |
1,560 | 1,610,661 | ||||||
|
Series C1, 5.00%, 05/01/24 |
460 | 471,783 | ||||||
|
Series E-1, 5.00%, 02/01/24 |
100 | 102,151 | ||||||
|
New York State Dormitory Authority, 5.00%, 03/15/24 |
300 | 307,218 | ||||||
|
New York State Dormitory Authority RB |
||||||||
|
5.00%, 07/01/24 |
110 | 112,637 | ||||||
|
Series A, 4.00%, 03/15/24 |
145 | 146,507 | ||||||
|
Series A, 5.00%, 02/15/24 |
230 | 235,334 | ||||||
|
Series A, 5.00%, 03/15/24 |
2,195 | 2,247,753 | ||||||
|
Series A, 5.00%, 07/01/24 |
815 | 835,603 | ||||||
|
Series B, 5.00%, 10/01/24 |
15 | 15,462 | ||||||
|
Series B, 5.50%, 03/15/24 (AMBAC) |
1,130 | 1,164,694 | ||||||
|
Series C, 5.00%, 03/15/24 |
935 | 957,749 | ||||||
|
Series D, 5.00%, 02/15/24 |
2,205 | 2,254,896 | ||||||
|
Series E, 5.00%, 02/15/24 |
430 | 439,590 | ||||||
|
Series E, 5.00%, 03/15/24 |
450 | 461,081 | ||||||
|
Series F, 5.00%, 10/01/24 (SAW) |
100 | 103,102 | ||||||
|
New York State Environmental Facilities Corp., 5.00%, 06/15/24 |
75 | 77,112 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 06/15/24 |
1,470 | 1,511,401 | ||||||
|
Series A, 4.00%, 06/15/24 |
65 | 65,813 | ||||||
|
Series D, 5.00%, 09/15/24 |
135 | 139,344 | ||||||
|
New York State Thruway Authority RB |
||||||||
|
Series J, 5.00%, 01/01/24 |
165 | 168,116 | ||||||
|
Series K, 4.00%, 01/01/24 |
160 | 161,211 | ||||||
|
Series K, 5.00%, 01/01/24 |
120 | 122,266 | ||||||
|
Series L, 5.00%, 01/01/24 |
185 | 188,494 | ||||||
|
New York State Urban Development Corp. RB |
||||||||
|
5.00%, 03/15/24 |
435 | 445,348 | ||||||
|
Series A, 5.00%, 03/15/24 |
3,110 | 3,183,979 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
5.00%, 07/15/24 |
100 | 102,816 | ||||||
|
Series 194, 5.00%, 10/15/24 |
1,220 | 1,259,025 | ||||||
|
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/24 |
815 | 842,974 | ||||||
|
State of New York, 5.00%, 03/15/24 |
375 | 384,022 | ||||||
|
State of New York GO, Series A, 5.00%, 03/01/24 |
360 | 368,426 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
51 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
New York (continued) |
||||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series A, 5.00%, 11/15/24 |
$ | 1,145 | $ | 1,183,540 | ||||
|
Series C-1, 5.00%, 11/15/24 |
180 | 186,059 | ||||||
|
|
|
|||||||
| 43,825,232 | ||||||||
| North Carolina — 2.8% | ||||||||
|
City of Charlotte NC COP, 5.00%, 06/01/24 |
125 | 128,346 | ||||||
|
City of Charlotte NC GO, Series A, 5.00%, 06/01/24 |
140 | 143,856 | ||||||
|
City of Charlotte NC Storm Water Revenue RB, 5.00%, 12/01/24 |
15 | 15,537 | ||||||
|
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/24 |
275 | 282,942 | ||||||
|
City of Durham NC Water & Sewer Utility System Revenue RB, 4.00%, 08/01/24 |
170 | 172,099 | ||||||
|
City of Raleigh NC RB, Series A, 5.00%, 06/01/24 |
160 | 164,282 | ||||||
|
City of Winston-Salem NC RB, Series C, 5.00%, 06/01/24 |
215 | 220,754 | ||||||
|
City of Winston-Salem NC Water & Sewer System Revenue RB, Series A, 5.00%, 06/01/24 |
10 | 10,272 | ||||||
|
City of Winston-Salem Water & Sewer System Revenue, 5.00%, 06/01/33 (PR 06/01/24) |
2,350 | 2,413,628 | ||||||
|
County of Alamance NC, 5.00%, 05/01/24 |
1,000 | 1,025,763 | ||||||
|
County of Buncombe NC RB |
||||||||
|
5.00%, 06/01/24 |
125 | 128,346 | ||||||
|
Serise A, 5.00%, 06/01/24 |
175 | 179,684 | ||||||
|
County of Durham NC GO, 5.00%, 10/01/24 |
45 | 46,480 | ||||||
|
County of Forsyth NC GO |
||||||||
|
5.00%, 04/01/24 |
100 | 102,411 | ||||||
|
5.00%, 12/01/24 |
365 | 378,056 | ||||||
|
County of Guilford NC GO |
||||||||
|
5.00%, 03/01/24 |
520 | 531,966 | ||||||
|
Series B, 5.00%, 05/01/24 |
235 | 241,054 | ||||||
|
County of Mecklenburg NC GO |
||||||||
|
4.00%, 02/01/24 |
235 | 237,438 | ||||||
|
5.00%, 03/01/24 |
285 | 291,821 | ||||||
|
Series A, 5.00%, 09/01/24 |
125 | 128,967 | ||||||
|
Series A, 5.00%, 12/01/24 |
175 | 181,224 | ||||||
|
Series B, 5.00%, 12/01/24 |
210 | 217,469 | ||||||
|
County of Orange NC GO, 4.00%, 04/01/24 |
200 | 201,997 | ||||||
|
County of Wake NC GO, Series A, 5.00%, 03/01/24 |
295 | 301,905 | ||||||
|
County of Wake NC RB |
||||||||
|
Series A, 5.00%, 08/01/24 |
135 | 139,079 | ||||||
|
Series A, 5.00%, 12/01/24 |
110 | 113,890 | ||||||
|
North Carolina State University at Raleigh RB, 5.00%, 10/01/24 |
45 | 46,413 | ||||||
|
State of North Carolina GO |
||||||||
|
Series A, 5.00%, 06/01/24 |
1,175 | 1,208,279 | ||||||
|
Series C, 5.00%, 05/01/24 |
3,230 | 3,317,030 | ||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/24 |
635 | 649,029 | ||||||
|
Series B, 5.00%, 05/01/24 |
125 | 128,257 | ||||||
|
Series B, 5.00%, 06/01/24 |
590 | 606,158 | ||||||
|
Series C, 5.00%, 05/01/24 |
290 | 297,557 | ||||||
|
University of North Carolina at Greensboro RB, 5.00%, 04/01/24 |
175 | 178,975 | ||||||
|
|
|
|||||||
| 14,430,964 | ||||||||
| Ohio — 3.6% | ||||||||
|
American Municipal Power Inc. RB, 5.00%, 02/15/24 |
530 | 540,663 | ||||||
|
City of Columbus OH |
||||||||
|
5.00%, 04/01/24 |
400 | 410,090 | ||||||
|
Series 6, 5.00%, 08/15/24 |
280 | 288,783 | ||||||
| Security | Par (000) |
Value | ||||||
|
Ohio (continued) |
||||||||
|
City of Columbus OH GO |
||||||||
|
Series 2017-1, 5.00%, 04/01/24 |
$ | 1,000 | $ | 1,025,224 | ||||
|
Series A, 4.00%, 08/15/24 |
455 | 461,437 | ||||||
|
Series A, 5.00%, 07/01/24 |
175 | 180,140 | ||||||
|
Cleveland Department of Public Utilities Division of Water RB, Series Y, 4.00%, 01/01/29 (PR 01/01/24) |
1,040 | 1,048,940 | ||||||
|
County of Franklin OH GOL, 5.00%, 12/01/24 |
20 | 20,711 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/24 |
225 | 232,269 | ||||||
|
Miami University/Oxford OH RB, 5.00%, 09/01/24 |
485 | 499,170 | ||||||
|
Northeast Ohio Regional Sewer District, 5.00%, 11/15/44 (PR 11/15/24) |
1,250 | 1,292,840 | ||||||
|
Northeast Ohio Regional Sewer District RB, 5.00%, 11/15/49 (PR 11/15/24) |
1,000 | 1,034,272 | ||||||
|
Ohio Higher Educational Facility Commission RB, 5.00%, 12/01/24 |
80 | 82,422 | ||||||
|
Ohio State University (The), 5.00%, 12/01/24 |
100 | 103,434 | ||||||
|
Ohio State University (The) RB, Series A, 5.00%, 12/01/24 |
300 | 310,302 | ||||||
|
Ohio Turnpike & Infrastructure Commission, 5.00%, 02/15/24 |
100 | 102,177 | ||||||
|
Ohio University RB, Series A, 5.00%, 12/01/24 |
110 | 113,464 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 06/01/24 |
1,100 | 1,130,297 | ||||||
|
5.00%, 12/01/24 |
275 | 284,781 | ||||||
|
Series B, 5.00%, 12/01/24 |
210 | 217,469 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
|
5.00%, 06/01/24 |
255 | 262,023 | ||||||
|
5.00%, 12/01/24 |
160 | 165,691 | ||||||
|
Series 2015A, 5.00%, 06/01/24 |
770 | 791,208 | ||||||
|
Series 2015-A, 5.00%, 12/01/24 |
225 | 233,003 | ||||||
|
State of Ohio, 5.00%, 05/01/27 (PR 05/01/24) |
945 | 969,346 | ||||||
|
State of Ohio GO |
||||||||
|
Series A, 4.00%, 05/01/24 |
110 | 111,367 | ||||||
|
Series A, 4.00%, 05/01/24 (ETM) |
5 | 5,049 | ||||||
|
Series A, 5.00%, 08/01/24 |
360 | 371,188 | ||||||
|
Series A, 5.00%, 09/01/24 |
215 | 221,978 | ||||||
|
Series A, 5.00%, 09/15/24 |
500 | 516,550 | ||||||
|
Series B, 5.00%, 08/01/24 |
195 | 201,060 | ||||||
|
Series B, 5.00%, 09/15/24 |
1,650 | 1,704,613 | ||||||
|
Series S, 5.00%, 05/01/24 |
170 | 174,430 | ||||||
|
Series U, 5.00%, 05/01/24 |
165 | 169,300 | ||||||
|
Serise A, 5.00%, 05/01/24 |
150 | 154,042 | ||||||
|
Serise A, 5.00%, 06/15/24 |
200 | 205,793 | ||||||
|
State of Ohio GOL, 5.00%, 09/01/24 |
895 | 924,049 | ||||||
|
State of Ohio RB |
||||||||
|
Series A, 5.00%, 04/01/24 |
505 | 516,823 | ||||||
|
Series A, 5.00%, 10/01/24 |
250 | 257,754 | ||||||
|
Series A, 5.00%, 12/01/24 |
440 | 454,751 | ||||||
|
Series B, 5.00%, 10/01/24 |
35 | 36,086 | ||||||
|
Series C, 5.00%, 12/01/24 |
165 | 170,532 | ||||||
|
|
|
|||||||
| 17,995,521 | ||||||||
| Oklahoma — 0.5% | ||||||||
|
City of Oklahoma City OK GO |
||||||||
|
4.00%, 03/01/24 |
250 | 252,459 | ||||||
|
5.00%, 03/01/24 |
10 | 10,228 | ||||||
|
Grand River Dam Authority RB |
||||||||
|
Series A, 4.00%, 06/01/24 |
460 | 463,304 | ||||||
|
Series A, 5.00%, 06/01/24 |
875 | 897,602 | ||||||
|
Oklahoma Capitol Improvement Authority RB |
||||||||
|
5.00%, 07/01/24 |
220 | 226,353 | ||||||
| 52 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Oklahoma (continued) |
||||||||
|
Series B, 5.00%, 01/01/24 |
$ | 15 | $ | 15,309 | ||||
|
Series B, 5.00%, 07/01/24 |
55 | 56,588 | ||||||
|
Series C, 5.00%, 07/01/24 |
30 | 30,866 | ||||||
|
Oklahoma Turnpike Authority RB, Series D, 5.00%, 01/01/24 |
270 | 275,223 | ||||||
|
Oklahoma Water Resources Board RB, 5.00%, 04/01/24 |
105 | 107,605 | ||||||
|
|
|
|||||||
| 2,335,537 | ||||||||
| Oregon — 1.9% | ||||||||
|
Chemeketa Community College District GO, 5.00%, 06/15/24 (GTD) |
195 | 200,181 | ||||||
|
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/24 |
175 | 179,987 | ||||||
|
City of Portland OR, 5.00%, 02/01/24 |
500 | 511,127 | ||||||
|
City of Portland OR GOL, Series B, 5.00%, 06/15/24 |
175 | 179,985 | ||||||
|
City of Portland OR Sewer System Revenue RB |
||||||||
|
5.00%, 06/15/24 |
100 | 102,737 | ||||||
|
Series A, 5.00%, 03/01/24 |
500 | 511,374 | ||||||
|
Series A, 5.00%, 05/01/24 |
80 | 82,037 | ||||||
|
Series A, 5.00%, 10/01/24 |
50 | 51,598 | ||||||
|
Series B, 5.00%, 06/01/24 |
140 | 143,747 | ||||||
|
City of Portland OR Water System Revenue RB, Series A, 5.00%, 05/01/24 |
250 | 256,367 | ||||||
|
County of Multnomah OR GOL, 5.00%, 06/01/24 |
1,025 | 1,053,232 | ||||||
|
Multnomah County School District No. 1 Portland/OR GO |
||||||||
|
5.00%, 06/15/24 (GTD) |
170 | 174,598 | ||||||
|
Series B, 5.00%, 06/15/24 (GTD) |
300 | 308,114 | ||||||
|
Oregon State Lottery RB |
||||||||
|
5.00%, 04/01/24 |
560 | 573,500 | ||||||
|
Series C, 5.00%, 04/01/24 |
220 | 225,304 | ||||||
|
Series E, 5.00%, 04/01/24 (MO) |
170 | 174,098 | ||||||
|
Portland Community College District GO, 5.00%, 06/15/24 |
290 | 297,705 | ||||||
|
Portland Oregon Water System RB, 5.00%, 05/01/24 |
180 | 184,584 | ||||||
|
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/24 (GTD)(a) |
125 | 118,002 | ||||||
|
State of Oregon Department of Transportation RB |
||||||||
|
Series A, 5.00%, 11/15/24 |
850 | 878,781 | ||||||
|
Series A, 5.00%, 11/15/28 (PR 11/15/24) |
700 | 723,991 | ||||||
|
State of Oregon GO |
||||||||
|
5.00%, 05/01/24 |
400 | 410,541 | ||||||
|
5.00%, 06/01/24 |
350 | 359,695 | ||||||
|
Series A, 5.00%, 05/01/24 |
900 | 923,718 | ||||||
|
Series B, 5.00%, 08/01/24 |
165 | 170,014 | ||||||
|
Series H, 5.00%, 05/01/24 |
145 | 148,821 | ||||||
|
Series I, 5.00%, 08/01/24 |
90 | 92,735 | ||||||
|
Series K, 5.00%, 11/01/24 |
200 | 206,848 | ||||||
|
Series L, 5.00%, 08/01/24 |
105 | 108,191 | ||||||
|
Series O, 5.00%, 08/01/24 |
25 | 25,760 | ||||||
|
Washington & Clackamas Counties School District No. 23J Tigard-Tualatin GO, Series J, 5.00%, 06/15/24 (GTD) |
200 | 205,633 | ||||||
|
|
|
|||||||
| 9,583,005 | ||||||||
| Pennsylvania — 2.6% | ||||||||
|
City of Philadelphia PA GO |
||||||||
|
5.00%, 08/01/24 |
230 | 236,515 | ||||||
|
5.25%, 07/15/34 (PR 01/15/24) |
440 | 450,494 | ||||||
|
Series A, 5.00%, 08/01/24 |
365 | 375,340 | ||||||
|
City of Philadelphia PA Water & Wastewater Revenue RB, Series B, 5.00%, 11/01/24 |
430 | 442,872 | ||||||
|
Commonwealth of Pennsylvania, 5.00%, 10/01/24 |
325 | 335,386 | ||||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
5.00%, 07/15/24 |
1,265 | 1,301,260 | ||||||
| Security | Par (000) |
Value | ||||||
|
Pennsylvania (continued) |
||||||||
|
First Series, 5.00%, 01/01/24 |
$ | 180 | $ | 183,606 | ||||
|
First Series, 5.00%, 03/01/24 |
105 | 107,389 | ||||||
|
First Series, 5.00%, 03/15/24 |
245 | 250,729 | ||||||
|
First Series, 5.00%, 06/15/24 |
170 | 174,652 | ||||||
|
First Series, 5.00%, 07/01/24 |
450 | 462,627 | ||||||
|
First Series, 5.00%, 08/15/24 |
810 | 834,269 | ||||||
|
First Series, 5.00%, 09/15/24 |
520 | 536,255 | ||||||
|
Second Series, 5.00%, 01/15/24 |
105 | 107,170 | ||||||
|
Second Series, 5.00%, 09/15/24 |
1,320 | 1,361,263 | ||||||
|
County of Berks PA GO, 5.00%, 11/15/24 |
100 | 103,226 | ||||||
|
County of Chester PA GO, 5.00%, 07/15/24 |
90 | 92,655 | ||||||
|
County of Montgomery PA GO, Series A, 5.00%, 04/01/24 |
20 | 20,496 | ||||||
|
Delaware County Authority RB, 5.00%, 08/01/24 |
45 | 46,121 | ||||||
|
Delaware River Joint Toll Bridge Commission RB |
||||||||
|
5.00%, 07/01/24 |
195 | 200,408 | ||||||
|
Series B, 5.00%, 07/01/24 |
125 | 128,467 | ||||||
|
Delaware River Port Authority RB, 5.00%, 01/01/33 (PR 01/01/24) |
3,000 | 3,061,486 | ||||||
|
Pennsylvania Infrastructure Investment Authority RB, Series A, 5.00%, 01/15/24 |
195 | 199,146 | ||||||
|
Pennsylvania State University (The) RB, 5.00%, 09/01/24 |
50 | 51,551 | ||||||
|
Pennsylvania Turnpike Commission Oil Franchise Tax Revenue, Series A, 5.00%, 12/01/24 |
90 | 93,017 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
5.00%, 06/01/24 |
105 | 107,403 | ||||||
|
5.00%, 12/01/24 |
1,100 | 1,138,000 | ||||||
|
Series A, 5.00%, 12/01/24 |
80 | 82,050 | ||||||
|
Series A-1, 5.00%, 12/01/24 |
220 | 227,600 | ||||||
|
Series A-2, 5.00%, 12/01/24 |
180 | 186,218 | ||||||
|
Series B, 5.00%, 12/01/24 |
180 | 186,218 | ||||||
|
|
|
|||||||
| 13,083,889 | ||||||||
| Rhode Island — 0.4% | ||||||||
|
Rhode Island Commerce Corp. RB, Series A, 4.00%, 06/15/24 |
430 | 432,337 | ||||||
|
Rhode Island Infrastructure Bank Water Pollution Control |
||||||||
|
Revolving Fund RB, Series B, 5.00%, 10/01/24 |
230 | 237,480 | ||||||
|
Rhode Island Turnpike & Bridge Authority RB, Series A, 5.00%, 10/01/24 |
215 | 221,265 | ||||||
|
State of Rhode Island GO |
||||||||
|
5.00%, 01/15/24 |
465 | 474,887 | ||||||
|
5.00%, 08/01/24 |
195 | 200,892 | ||||||
|
Series A, 5.00%, 05/01/24 |
175 | 179,586 | ||||||
|
Series D, 5.00%, 08/01/24 |
295 | 303,914 | ||||||
|
|
|
|||||||
| 2,050,361 | ||||||||
| South Carolina — 0.6% | ||||||||
|
Beaufort County School District/SC GO, 5.00%, 03/01/24 (SCSDE) |
500 | 511,177 | ||||||
|
Charleston Educational Excellence Finance Corp. RB, 5.00%, 12/01/24 |
70 | 72,418 | ||||||
|
City of Charleston SC Waterworks & Sewer System Revenue RB, 5.00%, 01/01/24 |
170 | 173,504 | ||||||
|
County of Charleston SC GO, Series C, 5.00%, 11/01/24 (SAW) |
160 | 165,492 | ||||||
|
Horry County School District/SC GO |
||||||||
|
5.00%, 03/01/24 (SCSDE) |
400 | 409,100 | ||||||
|
Series A, 5.00%, 03/01/24 |
170 | 173,867 | ||||||
|
Lancaster County School District/SC GO, 5.00%, 03/01/24 |
100 | 102,341 | ||||||
|
Richland County School District No. 1/SC GO, Series C, 5.00%, 03/01/24 |
110 | 112,531 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
53 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
South Carolina (continued) |
||||||||
|
South Carolina Transportation Infrastructure Bank RB, Series A, 5.00%, 10/01/24 |
$ | 800 | $ | 824,513 | ||||
|
State of South Carolina GO |
||||||||
|
Series B, 5.00%, 04/01/24 (SAW) |
475 | 486,650 | ||||||
|
Serise A, 5.00%, 04/01/24 (SAW) |
155 | 158,802 | ||||||
|
|
|
|||||||
| 3,190,395 | ||||||||
| Tennessee — 2.3% | ||||||||
|
City of Chattanooga TN GO, Series B, 5.00%, 03/01/24 |
100 | 102,275 | ||||||
|
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/24 |
175 | 181,046 | ||||||
|
City of Memphis TN GO |
||||||||
|
5.00%, 05/01/24 |
245 | 251,240 | ||||||
|
5.00%, 04/01/40 (PR 04/01/24) |
3,900 | 3,995,108 | ||||||
|
County of Blount TN GO, Series B, 5.00%, 06/01/24 |
180 | 184,677 | ||||||
|
County of Knox TN GO, 5.00%, 06/01/24 |
120 | 123,305 | ||||||
|
County of Williamson TN GO, 5.00%, 04/01/24 |
275 | 281,745 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB |
||||||||
|
Series A, 5.00%, 05/15/24 |
315 | 323,404 | ||||||
|
Series B, 5.00%, 05/15/24 |
200 | 205,336 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
4.00%, 01/01/24 |
750 | 756,875 | ||||||
|
5.00%, 01/01/24 |
315 | 321,456 | ||||||
|
5.00%, 07/01/24 |
615 | 632,660 | ||||||
|
Series A, 5.00%, 07/01/24 |
210 | 216,030 | ||||||
|
Series C, 4.00%, 07/01/24 |
175 | 177,213 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB, Series B, 5.00%, 07/01/24 |
165 | 169,738 | ||||||
|
State of Tennessee GO |
||||||||
|
5.00%, 09/01/24 |
125 | 129,057 | ||||||
|
Series A, 5.00%, 08/01/24 |
145 | 149,506 | ||||||
|
Series B, 5.00%, 08/01/24 |
700 | 721,754 | ||||||
|
Tennessee State School Bond Authority, 5.00%, 11/01/24 (ST INTERCEPT) |
475 | 491,247 | ||||||
|
Tennessee State School Bond Authority GO, Series B, 5.00%, 09/01/26 (PR 09/01/24) |
1,065 | 1,097,074 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
5.00%, 11/01/24 (ST INTERCEPT) |
85 | 87,960 | ||||||
|
Second Series, 5.00%, 11/01/24 (ST INTERCEPT) |
180 | 186,128 | ||||||
|
Series A, 5.00%, 11/01/24 |
370 | 382,596 | ||||||
|
Series B, 5.00%, 11/01/24 |
425 | 439,802 | ||||||
|
|
|
|||||||
| 11,607,232 | ||||||||
| Texas — 11.8% | ||||||||
|
Alamo Community College District, 5.00%, 02/15/24 |
500 | 510,884 | ||||||
|
Alamo Community College District GOL, 5.00%, 02/15/24 |
40 | 40,871 | ||||||
|
Aldine Independent School District GO, 5.00%, 02/15/24 (PSF) |
295 | 301,608 | ||||||
|
Alief Independent School District GO, 5.00%, 02/15/24 (PSF) |
170 | 173,679 | ||||||
|
Allen Independent School District GO, 5.00%, 02/15/24 (PSF) |
100 | 102,202 | ||||||
|
Arlington Independent School District/TX GO |
||||||||
|
Series A, 5.00%, 02/15/24 (PSF) |
40 | 40,906 | ||||||
|
Series B, 5.00%, 02/15/24 (PSF) |
180 | 184,078 | ||||||
|
Austin Community College District, 5.00%, 08/01/24 |
475 | 488,863 | ||||||
|
Austin Independent School District, 5.00%, 08/01/24 (PSF) |
1,170 | 1,204,348 | ||||||
|
Austin Independent School District GO |
||||||||
|
5.00%, 08/01/24 (PSF) |
145 | 149,257 | ||||||
|
Series A, 4.00%, 08/01/24 (PSF) |
125 | 126,564 | ||||||
| Security | Par (000) |
Value | ||||||
|
Texas (continued) |
||||||||
|
Series A, 5.00%, 08/01/24 (PSF) |
$ | 55 | $ | 56,615 | ||||
|
Birdville Independent School District GO |
||||||||
|
5.00%, 02/15/24 (PSF) |
10 | 10,223 | ||||||
|
Series A, 5.00%, 02/15/24 (PSF) |
105 | 107,339 | ||||||
|
Board of Regents of the University of Texas System RB |
||||||||
|
Series C, 5.00%, 08/15/24 |
330 | 340,410 | ||||||
|
Series D, 5.00%, 08/15/24 |
120 | 123,785 | ||||||
|
Series E, 5.00%, 08/15/24 |
175 | 180,520 | ||||||
|
Series H, 5.00%, 08/15/24 |
270 | 278,517 | ||||||
|
Series I, 5.00%, 08/15/24 |
395 | 407,460 | ||||||
|
Series J, 5.00%, 08/15/24 |
165 | 170,205 | ||||||
|
Central Texas Turnpike System, 0.00%, 08/15/24(a) |
565 | 531,935 | ||||||
|
Central Texas Turnpike System RB |
||||||||
|
Series A, 0.00%, 08/15/24 (AMBAC)(a) |
90 | 84,212 | ||||||
|
Series C, 5.00%, 08/15/24 |
125 | 127,415 | ||||||
|
City of Arlington TX GOL, Series A, 5.00%, 08/15/24 |
205 | 211,142 | ||||||
|
City of Arlington TX Water & Wastewater System Revenue RB, 5.00%, 06/01/24 |
700 | 718,735 | ||||||
|
City of Austin TX GOL |
||||||||
|
5.00%, 09/01/24 |
540 | 557,040 | ||||||
|
Series A, 5.00%, 09/01/24 |
230 | 237,258 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB |
||||||||
|
5.00%, 11/15/24 |
160 | 165,066 | ||||||
|
Series A, 5.00%, 05/15/24 |
155 | 159,112 | ||||||
|
Series A, 5.00%, 11/15/24 |
360 | 371,400 | ||||||
|
City of Brownsville TX GOL |
||||||||
|
5.00%, 02/15/24 |
10 | 10,208 | ||||||
|
5.00%, 02/15/24 (ETM) |
5 | 5,108 | ||||||
|
City of Carrollton TX GOL, 5.00%, 08/15/24 |
1,250 | 1,287,452 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/24 |
360 | 371,369 | ||||||
|
Series A, 5.00%, 10/01/24 |
240 | 247,579 | ||||||
|
Series C, 5.00%, 10/01/24 |
390 | 402,389 | ||||||
|
City of Denton TX GOL, 5.00%, 02/15/24 |
80 | 81,752 | ||||||
|
City of El Paso TX GOL, 5.00%, 08/15/24 |
135 | 138,879 | ||||||
|
City of Fort Worth TX Water & Sewer System Revenue RB, Series A, 5.00%, 02/15/24 |
265 | 270,870 | ||||||
|
City of Frisco TX GOL, 5.00%, 02/15/24 |
150 | 153,284 | ||||||
|
City of Grand Prairie TX GOL, 5.00%, 02/15/24 |
315 | 321,577 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
Series B, 5.00%, 11/15/24 |
370 | 382,306 | ||||||
|
Series C, 5.00%, 05/15/24 |
590 | 605,294 | ||||||
|
Series D, 5.00%, 11/15/24 |
540 | 557,961 | ||||||
|
City of Lubbock TX GOL, 5.00%, 02/15/24 |
295 | 301,309 | ||||||
|
City of Pflugerville TX GOL, 5.00%, 08/01/24 |
60 | 61,700 | ||||||
|
City of Plano TX GOL, 5.00%, 09/01/24 |
50 | 51,569 | ||||||
|
City of Round Rock TX GOL, 5.00%, 08/15/24 |
100 | 102,996 | ||||||
|
City of San Antonio Texas Electric & Gas Systems Revenue RB, Series REF, 5.25%, 02/01/24 |
580 | 594,021 | ||||||
|
City of San Antonio TX, 5.00%, 08/01/24 |
735 | 757,210 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
|
5.00%, 02/01/24 |
275 | 280,815 | ||||||
|
5.00%, 02/01/24 (ETM) |
155 | 158,354 | ||||||
|
City of San Antonio TX GOL |
||||||||
|
5.00%, 02/01/24 |
515 | 526,334 | ||||||
|
5.00%, 08/01/24 |
715 | 736,605 | ||||||
|
Clear Creek Independent School District GO, 5.00%, 02/15/24 (PSF) |
95 | 97,020 | ||||||
|
Comal Independent School District GO |
||||||||
|
5.00%, 02/01/24 (PSF) |
550 | 561,969 | ||||||
| 54 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Texas (continued) |
||||||||
|
Series B, 5.00%, 02/01/24 (PSF) |
$ | 110 | $ | 112,394 | ||||
|
Conroe Independent School District, 5.00%, 02/15/24 (PSF) |
120 | 122,643 | ||||||
|
Conroe Independent School District GO, 5.00%, 02/15/24 (PSF) |
105 | 107,312 | ||||||
|
Conroe Independent School District RB, 5.00%, 02/15/24 |
525 | 536,562 | ||||||
|
County of Bexar TX GOL, 5.00%, 06/15/24 |
315 | 323,872 | ||||||
|
County of Collin TX GOL, 5.00%, 02/15/24 |
105 | 107,352 | ||||||
|
County of Denton TX GOL, 5.00%, 07/15/24 |
105 | 107,887 | ||||||
|
County of Harris TX GOL, 5.00%, 10/01/24 |
1,600 | 1,652,031 | ||||||
|
County of Travis TX GOL, 5.00%, 03/01/24 |
275 | 281,292 | ||||||
|
Crowley Independent School District GO, Series A, 5.00%, 08/01/24 (PSF) |
80 | 82,390 | ||||||
|
Cypress-Fairbanks Independent School District GO |
||||||||
|
5.00%, 02/15/24 (PSF) |
440 | 449,801 | ||||||
|
Series A, 5.00%, 02/15/24 (PSF) |
105 | 107,339 | ||||||
|
Series C, 5.00%, 02/15/24 (PSF) |
100 | 102,228 | ||||||
|
Dallas Area Rapid Transit RB |
||||||||
|
5.00%, 11/01/24 |
200 | 205,831 | ||||||
|
5.00%, 12/01/24 |
785 | 812,119 | ||||||
|
5.00%, 12/01/32 (PR 12/01/24) |
2,500 | 2,587,385 | ||||||
|
Series A, 5.00%, 12/01/24 |
915 | 946,610 | ||||||
|
Denton Independent School District GO, 0.00%, 08/15/24 (PSF)(a) |
200 | 188,356 | ||||||
|
Fort Bend Independent School District GO |
||||||||
|
Series A, 5.00%, 08/15/24 (PSF) |
300 | 308,936 | ||||||
|
Series C, 5.00%, 02/15/24 (PSF) |
25 | 25,547 | ||||||
|
Series C, 5.00%, 08/15/24 (PSF) |
105 | 108,128 | ||||||
|
Fort Worth Independent School District GO, 5.00%, 02/15/24 (PSF) |
400 | 408,808 | ||||||
|
Frisco Independent School District GO, 5.00%, 08/15/24 (PSF) |
320 | 329,812 | ||||||
|
Garland Independent School District GO, Series A, 5.00%, 02/15/24 (PSF) |
300 | 306,797 | ||||||
|
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/24 (PSF)(a) |
150 | 141,093 | ||||||
|
Harris County Toll Road Authority (The) RB, Series A, 5.00%, 08/15/24 |
355 | 365,512 | ||||||
|
Katy Independent School District GO, Series D, 5.00%, 02/15/24 (PSF) |
125 | 127,832 | ||||||
|
Keller Independent School District/TX GO |
||||||||
|
Series A, 5.00%, 02/15/24 (PSF) |
160 | 163,524 | ||||||
|
Series A, 5.00%, 08/15/24 (PSF) |
170 | 175,093 | ||||||
|
Klein Independent School District GO |
||||||||
|
5.00%, 08/01/24 (PSF) |
65 | 66,908 | ||||||
|
Series A, 5.00%, 08/01/24 (PSF) |
430 | 442,624 | ||||||
|
Lamar Consolidated Independent School District GO |
||||||||
|
5.00%, 02/15/24 (PSF) |
145 | 148,046 | ||||||
|
Series A, 2.00%, 02/15/24 (PSF) |
50 | 48,870 | ||||||
|
Laredo Independent School District GO, 0.00%, 08/01/24 (PSF)(a) |
150 | 140,570 | ||||||
|
Leander Independent School District GO |
||||||||
|
Series C, 0.00%, 08/15/37 (PR 08/15/24)(a) |
700 | 334,852 | ||||||
|
Series C, 0.00%, 08/15/47 (PR 08/15/24) (PSF)(a) |
10,000 | 2,671,641 | ||||||
|
Series D, 0.00%, 08/15/24 (PSF)(a) |
125 | 117,392 | ||||||
|
Lewisville Independent School District GO |
||||||||
|
5.00%, 08/15/24 |
400 | 411,563 | ||||||
|
5.00%, 08/15/24 (PSF) |
260 | 267,516 | ||||||
|
Lone Star College System, 5.00%, 02/15/24 |
105 | 107,339 | ||||||
|
Lone Star College System GOL |
||||||||
|
5.00%, 09/15/24 |
185 | 190,851 | ||||||
| Security | Par (000) |
Value | ||||||
|
Texas (continued) |
||||||||
|
Series A, 5.00%, 02/15/24 |
$ | 170 | $ | 173,787 | ||||
|
Series A, 5.00%, 08/15/24 |
135 | 139,092 | ||||||
|
Series B, 5.00%, 02/15/24 |
545 | 557,141 | ||||||
|
Lower Colorado River Authority RB |
||||||||
|
5.00%, 05/15/24 |
320 | 327,522 | ||||||
|
Series B, 5.00%, 05/15/24 |
160 | 163,761 | ||||||
|
McKinney Independent School District GO, 5.00%, 02/15/24 (PSF) |
160 | 163,524 | ||||||
|
Metropolitan Transit Authority of Harris County RB |
||||||||
|
Series A, 5.00%, 11/01/24 |
195 | 201,371 | ||||||
|
Series B, 5.00%, 11/01/24 |
185 | 191,044 | ||||||
|
Series D, 5.00%, 11/01/24 |
285 | 294,311 | ||||||
|
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, 5.00%, 11/01/24 |
100 | 103,267 | ||||||
|
North East Independent School District/TX GO |
||||||||
|
5.00%, 08/01/24 (PSF) |
565 | 581,296 | ||||||
|
5.25%, 02/01/24 (PSF) |
300 | 307,215 | ||||||
|
North Texas Municipal Water District RB |
||||||||
|
5.00%, 06/01/24 |
135 | 138,592 | ||||||
|
5.50%, 06/01/24 |
50 | 51,712 | ||||||
|
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/24 |
375 | 386,428 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
5.00%, 01/01/24 |
160 | 163,206 | ||||||
|
Series A, 5.00%, 01/01/24 |
245 | 249,908 | ||||||
|
Series B, 5.00%, 01/01/24 |
165 | 168,249 | ||||||
|
Series S, 5.00%, 01/01/24 (ETM) |
75 | 76,477 | ||||||
|
Northside Independent School District GO |
||||||||
|
5.00%, 08/01/24 (PSF) |
275 | 283,073 | ||||||
|
5.00%, 08/15/24 (PSF) |
225 | 231,741 | ||||||
|
Series A, 5.00%, 02/15/24 (PSF) |
500 | 511,011 | ||||||
|
Series A, 5.00%, 08/15/24 (PSF) |
165 | 169,944 | ||||||
|
Northwest Independent School District GO, Series A, 5.00%, 02/15/24 (PSF) |
275 | 280,916 | ||||||
|
Pasadena Independent School District GO, 5.00%, 02/15/24 (PSF) |
150 | 153,284 | ||||||
|
Permanent University Fund - University of Texas System RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
110 | 113,195 | ||||||
|
Series B, 5.00%, 07/01/24 |
1,325 | 1,363,483 | ||||||
|
Pflugerville Independent School District GO, 5.00%, 02/15/24 (PSF) |
250 | 255,314 | ||||||
|
Rockwall Independent School District GO, Series A, 0.00%, 02/15/24 (PSF)(a) |
35 | 33,189 | ||||||
|
Round Rock Independent School District GO |
||||||||
|
5.00%, 08/01/24 |
170 | 174,991 | ||||||
|
5.00%, 08/01/24 (PSF) |
165 | 169,816 | ||||||
|
San Antonio Independent School District/TX GO, 5.00%, 02/15/24 (PSF) |
405 | 414,176 | ||||||
|
San Antonio Water System RB |
||||||||
|
Series A, 5.00%, 05/15/24 |
580 | 594,947 | ||||||
|
Series B, 5.00%, 05/15/24 |
120 | 123,092 | ||||||
|
Spring Branch Independent School District GO, 5.00%, 02/01/24 (PSF) |
885 | 904,259 | ||||||
|
Spring Branch Independent School District GOL, 5.00%, 02/01/24 (PSF) |
115 | 117,502 | ||||||
|
Spring Independent School District GO, 5.00%, 08/15/24 (PSF) |
580 | 597,174 | ||||||
|
State of Texas GO |
||||||||
|
5.00%, 04/01/24 |
295 | 302,318 | ||||||
|
Series A, 5.00%, 10/01/24 |
2,285 | 2,360,167 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
55 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Texas (continued) |
||||||||
|
Series A, 5.00%, 10/01/39 (PR 10/01/24) |
$ | 1,000 | $ | 1,032,332 | ||||
|
Series B-1, 5.00%, 08/01/24 |
230 | 236,950 | ||||||
|
Series D, 5.00%, 05/15/24 |
425 | 436,403 | ||||||
|
Tarrant Regional Water District RB, Series A, 5.00%, 03/01/24 |
250 | 255,654 | ||||||
|
Tarrant Regional Water District Water Supply System Revenue RB |
||||||||
|
5.00%, 03/01/24 |
465 | 475,517 | ||||||
|
5.00%, 03/01/30 (PR 03/01/24) |
2,000 | 2,044,709 | ||||||
|
Texas A&M University RB |
||||||||
|
Series C, 5.00%, 05/15/24 |
495 | 508,280 | ||||||
|
Series E, 4.00%, 05/15/24 |
25 | 25,299 | ||||||
|
Series E, 5.00%, 05/15/24 |
740 | 759,854 | ||||||
|
Texas Public Finance Authority RB, 5.00%, 02/01/24 |
250 | 255,502 | ||||||
|
Texas State Technical College, 5.00%, 08/01/24 (AGM) |
150 | 153,761 | ||||||
|
Texas State University System RB, Series A, 5.00%, 03/15/24 |
490 | 501,788 | ||||||
|
Texas Transportation Commission State Highway Fund RB |
||||||||
|
First Series, 5.00%, 10/01/24 |
550 | 568,093 | ||||||
|
Series A, 5.00%, 04/01/24 |
895 | 917,201 | ||||||
|
Series A, 5.00%, 10/01/24 |
745 | 769,507 | ||||||
|
Texas Water Development Board, 5.00%, 08/01/24 |
755 | 777,165 | ||||||
|
Texas Water Development Board RB |
||||||||
|
5.00%, 04/15/24 |
430 | 440,639 | ||||||
|
5.00%, 08/01/24 |
560 | 576,440 | ||||||
|
Series A, 5.00%, 10/15/24 |
280 | 289,117 | ||||||
|
Series B, 5.00%, 04/15/24 |
75 | 76,856 | ||||||
|
Series B, 5.00%, 10/15/24 |
110 | 113,582 | ||||||
|
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/24 |
160 | 164,670 | ||||||
|
Tyler Independent School District GO, 5.00%, 02/15/24 (PSF) |
30 | 30,623 | ||||||
|
United Independent School District/TX GO, 5.00%, 08/15/24 (PSF) |
20 | 20,592 | ||||||
|
University of Houston RB, Series A, 5.00%, 02/15/24 |
405 | 413,251 | ||||||
|
University of North Texas System RB, Series A, 5.00%, 04/15/24 |
640 | 656,293 | ||||||
|
Ysleta Independent School District GO, 5.00%, 08/15/24 (PSF) |
125 | 128,723 | ||||||
|
|
|
|||||||
| 59,690,533 | ||||||||
| Utah — 1.0% | ||||||||
|
Central Utah Water Conservancy District RB, 5.00%, 10/01/24 |
100 | 103,196 | ||||||
|
City of Ogden City UT Sewer & Water Revenue RB, 5.00%, 06/15/24 |
90 | 92,391 | ||||||
|
Metropolitan Water District of Salt Lake & Sandy RB, Series A, 5.00%, 07/01/24 |
135 | 138,788 | ||||||
|
Nebo School District GO, Series C, 4.00%, 07/01/24 (GTD) |
100 | 101,200 | ||||||
|
State of Utah GO |
||||||||
|
5.00%, 07/01/24 |
2,340 | 2,408,346 | ||||||
|
Series B, 5.00%, 07/01/24 |
270 | 277,886 | ||||||
|
University of Utah (The) RB |
||||||||
|
Series A, 5.00%, 08/01/24 |
320 | 329,669 | ||||||
|
Series A, 5.00%, 08/01/24 (SAP) |
370 | 381,180 | ||||||
|
Series A-1, 5.00%, 08/01/24 |
100 | 103,022 | ||||||
|
Series B, 5.00%, 08/01/24 |
220 | 226,648 | ||||||
|
Utah State Building Ownership Authority RB, 5.00%, 05/15/24 |
275 | 282,337 | ||||||
| Security | Par (000) |
Value | ||||||
|
Utah (continued) |
||||||||
|
Utah Transit Authority RB, Series A, 5.00%, 06/15/24 |
$ | 450 | $ | 462,746 | ||||
|
|
|
|||||||
| 4,907,409 | ||||||||
| Vermont — 0.2% | ||||||||
|
State of Vermont GO |
||||||||
|
Series A, 5.00%, 02/15/24 |
165 | 168,697 | ||||||
|
Series A, 5.00%, 08/15/24 |
1,000 | 1,030,489 | ||||||
|
|
|
|||||||
| 1,199,186 | ||||||||
| Virginia — 4.0% | ||||||||
|
City of Alexandria VA GO |
||||||||
|
Series A, 5.00%, 07/15/24 (SAW) |
105 | 108,098 | ||||||
|
Series C, 5.00%, 07/01/24 (SAW) |
435 | 447,563 | ||||||
|
Series C, 5.00%, 07/15/24 (SAW) |
100 | 102,950 | ||||||
|
City of Chesapeake VA GO, Series C, 5.00%, 12/01/24 |
250 | 258,637 | ||||||
|
City of Hampton VA GO, Series A, 5.00%, 09/01/24 |
355 | 366,202 | ||||||
|
City of Newport News VA GO, Series A, 5.00%, 08/01/24 |
100 | 102,970 | ||||||
|
City of Norfolk VA GO |
||||||||
|
Series A, 5.00%, 09/01/35 (PR 09/01/24) (SAW) |
150 | 154,652 | ||||||
|
Series A, 5.00%, 09/01/37 (PR 09/01/24) (SAW) |
600 | 618,609 | ||||||
|
City of Norfolk VA Water Revenue RB, 5.00%, 11/01/24 |
230 | 237,469 | ||||||
|
City of Richmond VA GO |
||||||||
|
Series B, 5.00%, 07/15/24 |
205 | 211,117 | ||||||
|
Series B, 5.00%, 07/15/24 (SAW) |
240 | 247,161 | ||||||
|
City of Virginia Beach VA GO, Series B, 5.00%, 09/15/24 (SAW) |
730 | 753,490 | ||||||
|
Commonwealth of Virginia GO |
||||||||
|
5.00%, 06/01/24 |
1,000 | 1,028,323 | ||||||
|
Series B, 5.00%, 06/01/24 |
55 | 56,558 | ||||||
|
Series B, 5.00%, 06/01/24 (SAW) |
105 | 107,974 | ||||||
|
County of Arlington VA GO |
||||||||
|
5.00%, 08/15/24 |
125 | 128,855 | ||||||
|
5.00%, 08/15/24 (SAW) |
75 | 77,313 | ||||||
|
Series A, 5.00%, 08/15/24 |
50 | 51,542 | ||||||
|
County of Chesterfield, 5.00%, 01/01/24 |
500 | 510,305 | ||||||
|
County of Fairfax VA GO |
||||||||
|
Series A, 4.00%, 10/01/24 (SAW) |
250 | 253,528 | ||||||
|
Series A, 5.00%, 10/01/24 (SAW) |
525 | 542,073 | ||||||
|
Series B, 5.00%, 04/01/24 (SAW) |
500 | 512,682 | ||||||
|
Series B, 5.00%, 10/01/24 (SAW) |
130 | 134,228 | ||||||
|
County of Henrico VA GO |
||||||||
|
5.00%, 08/01/24 (SAW) |
50 | 51,502 | ||||||
|
Series A, 5.00%, 08/01/24 |
400 | 412,018 | ||||||
|
Series A, 5.00%, 08/01/24 (SAW) |
245 | 252,361 | ||||||
|
Series B, 5.00%, 08/01/24 (SAW) |
205 | 211,159 | ||||||
|
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/24 |
500 | 512,432 | ||||||
|
Fairfax County Water Authority RB, 5.00%, 04/01/24 |
75 | 76,839 | ||||||
|
Hampton Roads Sanitation District RB |
||||||||
|
Series A, 5.00%, 07/01/24 |
165 | 169,765 | ||||||
|
Series A, 5.00%, 08/01/24 |
150 | 154,533 | ||||||
|
Virginia College Building Authority, 5.00%, 02/01/24 |
2,430 | 2,482,580 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 02/01/24 |
100 | 102,164 | ||||||
|
Series A, 3.00%, 09/01/24 |
120 | 119,492 | ||||||
|
Series A, 4.00%, 02/01/28 (PR 02/01/24) |
250 | 252,288 | ||||||
|
Series A, 5.00%, 09/01/24 |
570 | 587,679 | ||||||
|
Series A, 5.00%, 09/01/24 (SAW) |
50 | 51,551 | ||||||
|
Series B, 5.00%, 09/01/24 |
350 | 360,855 | ||||||
|
Series D, 5.00%, 02/01/24 (NPFGC) |
275 | 280,950 | ||||||
|
Series E-1, 5.00%, 02/01/24 |
300 | 306,491 | ||||||
| 56 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Virginia (continued) |
||||||||
|
Virginia Commonwealth Transportation Board, 5.00%, 05/15/24 |
$ | 195 | $ | 200,232 | ||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 03/15/24 |
200 | 204,812 | ||||||
|
5.00%, 05/15/24 |
370 | 379,927 | ||||||
|
5.00%, 09/15/24 |
500 | 516,090 | ||||||
|
Series A, 5.00%, 05/15/24 |
1,035 | 1,062,769 | ||||||
|
Series C, 5.00%, 05/15/24 |
170 | 174,561 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
Series A, 5.00%, 08/01/24 |
1,065 | 1,095,899 | ||||||
|
Series C, 5.00%, 08/01/24 |
165 | 169,787 | ||||||
|
Virginia Public School Authority, 5.00%, 08/01/24 |
285 | 293,612 | ||||||
|
Virginia Public School Authority RB |
||||||||
|
5.00%, 02/01/24 |
75 | 76,651 | ||||||
|
5.00%, 08/01/24 |
160 | 164,835 | ||||||
|
5.00%, 08/01/24 (SAW) |
1,265 | 1,303,225 | ||||||
|
Series B, 5.00%, 08/01/24 |
120 | 123,626 | ||||||
|
Series B, 5.00%, 08/01/24 (SAW) |
315 | 324,518 | ||||||
|
Series C, 5.00%, 08/01/24 (SAW) |
275 | 283,310 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
5.00%, 11/01/24 |
205 | 211,624 | ||||||
|
5.00%, 11/01/24 (MO) |
105 | 108,287 | ||||||
|
Series A, 5.00%, 11/01/24 |
275 | 284,523 | ||||||
|
Series D, 5.00%, 11/01/24 |
145 | 150,021 | ||||||
|
|
|
|||||||
| 20,525,267 | ||||||||
|
Washington — 4.7% |
||||||||
|
Cascade Water Alliance RB, 5.00%, 01/01/24 |
90 | 91,824 | ||||||
|
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/24 |
945 | 976,430 | ||||||
|
City of Bellevue WA GOL, 5.00%, 12/01/24 |
200 | 207,113 | ||||||
|
City of Marysville WA Water & Sewer Revenue RB, 5.00%, 04/01/24 |
55 | 56,334 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB |
||||||||
|
5.00%, 04/01/24 |
425 | 435,542 | ||||||
|
5.00%, 09/01/24 |
1,000 | 1,031,556 | ||||||
|
City of Seattle WA GO, 5.00%, 12/01/24 |
215 | 222,647 | ||||||
|
City of Seattle WA GOL |
||||||||
|
4.00%, 05/01/24 |
45 | 45,526 | ||||||
|
Series A, 5.00%, 06/01/24 |
290 | 297,987 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
|
5.00%, 05/01/24 |
75 | 76,888 | ||||||
|
5.00%, 09/01/24 |
220 | 226,665 | ||||||
|
Series B, 5.00%, 04/01/24 |
100 | 102,383 | ||||||
|
Series C, 5.00%, 09/01/24 |
355 | 365,755 | ||||||
|
Series C, 5.00%, 10/01/24 |
125 | 128,947 | ||||||
|
City of Seattle WA Water System Revenue RB, 5.00%, 08/01/24 |
215 | 221,497 | ||||||
|
Clark & Skamania Counties School District No. 112-6 Washougal GO, 5.00%, 12/01/24 (GTD) |
25 | 25,864 | ||||||
|
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/24 |
225 | 229,093 | ||||||
|
Clark County School District No. 37 Vancouver GO, Series C, 5.00%, 12/01/24 (GTD) |
100 | 103,455 | ||||||
|
County of King WA GO, 5.00%, 07/01/24 |
110 | 113,087 | ||||||
|
County of King WA GOL |
||||||||
|
5.00%, 06/01/24 |
630 | 646,861 | ||||||
|
5.00%, 07/01/24 |
125 | 128,507 | ||||||
|
Series C, 5.00%, 12/01/24 |
55 | 56,900 | ||||||
|
Series E, 5.00%, 06/01/24 |
125 | 128,346 | ||||||
|
Series E, 5.00%, 12/01/24 |
70 | 72,418 | ||||||
| Security | Par (000) |
Value | ||||||
|
Washington (continued) |
||||||||
|
County of King WA Sewer Revenue RB |
||||||||
|
5.00%, 07/01/24 |
$ | 275 | $ | 282,762 | ||||
|
Series B, 5.00%, 07/01/24 |
880 | 904,837 | ||||||
|
County of Pierce WA GO, Series A, 5.00%, 08/01/24 |
260 | 267,812 | ||||||
|
County of Snohomish WA, 5.00%, 12/01/24 |
105 | 108,584 | ||||||
|
County of Spokane WA GOL, 5.00%, 12/01/24 |
265 | 274,155 | ||||||
|
Energy Northwest RB |
||||||||
|
5.00%, 07/01/24 |
865 | 889,981 | ||||||
|
Series A, 4.00%, 07/01/24 |
285 | 288,651 | ||||||
|
Series A, 5.00%, 07/01/24 |
1,140 | 1,172,923 | ||||||
|
King County Rural Library District GO, 4.00%, 12/01/24 |
150 | 151,913 | ||||||
|
King County School District No. 210 Federal Way GO, 4.00%, 12/01/24 (GTD) |
80 | 81,087 | ||||||
|
King County School District No. 403 Renton GO, 4.00%, 12/01/24 (GTD) |
195 | 197,846 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/24 (GTD) |
200 | 207,113 | ||||||
|
King County School District No. 411 Issaquah GO, 5.00%, 12/01/24 (GTD) |
175 | 181,046 | ||||||
|
King County School District No. 414 Lake Washington GO, 5.00%, 12/01/24 (GTD) |
130 | 134,491 | ||||||
|
Pierce County School District No. 10 Tacoma GO, 5.00%, 12/01/24 (GTD) |
375 | 388,261 | ||||||
|
Pierce County School District No. 320 Sumner GO, 5.00%, 12/01/24 (GTD) |
75 | 77,591 | ||||||
|
Pierce County School District No. 83 University Place GO, 5.00%, 12/01/24 (GTD) |
100 | 103,455 | ||||||
|
Port of Seattle WA GOL, 5.00%, 06/01/24 |
400 | 411,017 | ||||||
|
Port of Seattle WA RB, Series B, 5.00%, 03/01/24 |
220 | 224,572 | ||||||
|
Port of Tacoma WA RB, Series A, 5.00%, 12/01/24 |
85 | 87,763 | ||||||
|
Snohomish County School District No. 103 Monroe GO, 5.00%, 12/01/24 (GTD) |
215 | 222,427 | ||||||
|
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/24 (GTD) |
150 | 155,182 | ||||||
|
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/24 (GTD) |
100 | 103,455 | ||||||
|
Snohomish County School District No. 6 Mukilteo GO, 5.00%, 12/01/24 (GTD) |
85 | 87,936 | ||||||
|
Spokane & Whitman Counties School District No. 360 Cheney GO, 5.00%, 12/01/24 (GTD) |
150 | 155,182 | ||||||
|
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/24 (GTD) |
255 | 264,070 | ||||||
|
State of Washington, 5.00%, 06/01/24 |
500 | 513,849 | ||||||
|
State of Washington COP |
||||||||
|
Series A, 5.00%, 07/01/24 |
120 | 123,171 | ||||||
|
Series B, 5.00%, 07/01/24 |
395 | 405,438 | ||||||
|
State of Washington GO |
||||||||
|
5.00%, 07/01/24 |
80 | 82,323 | ||||||
|
Series 2016A, 5.00%, 07/01/24 |
105 | 108,050 | ||||||
|
Series A-1, 5.00%, 08/01/24 |
425 | 437,915 | ||||||
|
Series B, 5.00%, 07/01/24 |
1,140 | 1,173,110 | ||||||
|
Series C, 0.00%, 06/01/24 (AMBAC)(a) |
100 | 94,579 | ||||||
|
Series C, 0.00%, 06/01/24 (NPFGC)(a) |
25 | 23,645 | ||||||
|
Series C, 5.00%, 02/01/24 |
1,315 | 1,344,103 | ||||||
|
Series D, 5.00%, 02/01/24 |
140 | 143,098 | ||||||
|
Series E, 0.00%, 12/01/24(a) |
60 | 55,687 | ||||||
|
Series E, 5.00%, 06/01/24 |
1,000 | 1,027,699 | ||||||
|
Series R-2015C, 5.00%, 07/01/24 |
60 | 61,743 | ||||||
|
Series R-2015E, 5.00%, 07/01/24 |
145 | 149,211 | ||||||
|
Series R-2018C, 5.00%, 08/01/24 |
695 | 716,121 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
57 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Washington (continued) |
||||||||
|
Series R-2018D, 5.00%, 08/01/24 |
$ | 110 | $ | 113,343 | ||||
|
Series R-2020A, 5.00%, 01/01/24 |
800 | 816,581 | ||||||
|
Series R-F, 5.00%, 07/01/24 |
100 | 102,904 | ||||||
|
State of Washington RB, 5.00%, 09/01/24 |
900 | 928,562 | ||||||
|
University of Washington RB |
||||||||
|
5.00%, 04/01/24 |
575 | 589,103 | ||||||
|
5.00%, 06/01/24 |
75 | 77,042 | ||||||
|
Series C, 5.00%, 12/01/24 |
130 | 134,491 | ||||||
|
Serise A, 5.00%, 12/01/24 |
395 | 408,646 | ||||||
|
Washington State University RB |
||||||||
|
5.00%, 04/01/24 |
320 | 327,090 | ||||||
|
5.00%, 10/01/24 |
180 | 185,110 | ||||||
|
Whatcom County School District No. 503 Blaine GO, 5.00%, 12/01/24 (GTD) |
25 | 25,864 | ||||||
|
|
|
|||||||
| 23,584,215 | ||||||||
| West Virginia — 0.4% | ||||||||
|
State of West Virginia GO |
||||||||
|
5.00%, 06/01/24 |
75 | 77,066 | ||||||
|
Series A, 0.00%, 11/01/24 (NPFGC)(a) |
140 | 130,534 | ||||||
|
Series A, 5.00%, 06/01/24 |
505 | 518,909 | ||||||
|
Series A, 5.00%, 12/01/24 |
25 | 25,864 | ||||||
|
Series B, 5.00%, 06/01/24 |
40 | 41,102 | ||||||
|
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/24 |
800 | 821,508 | ||||||
|
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/24 |
320 | 327,881 | ||||||
|
West Virginia Water Development Authority RB, Series A, 5.00%, 07/01/24 |
265 | 272,436 | ||||||
|
|
|
|||||||
| 2,215,300 | ||||||||
| Wisconsin — 2.0% | ||||||||
|
City of Madison WI GO, Series A, 4.00%, 10/01/24 |
270 | 273,709 | ||||||
|
Milwaukee County Metropolitan Sewer District GO, Series A, 5.00%, 10/01/24 |
105 | 108,139 | ||||||
|
State of Wisconsin, 5.00%, 05/01/24 |
210 | 215,503 | ||||||
|
State of Wisconsin Clean Water Fund Leveraged Loan Portfolio RB |
||||||||
|
5.00%, 06/01/25 (PR 06/01/24) |
150 | 153,945 | ||||||
|
5.00%, 06/01/26 (PR 06/01/24) |
60 | 61,438 | ||||||
|
Series 1, 5.00%, 06/01/24 |
85 | 87,235 | ||||||
|
State of Wisconsin Environmental Improvement Fund Revenue RB |
||||||||
|
Series A, 5.00%, 06/01/24 |
240 | 246,648 | ||||||
|
Serise A, 5.00%, 06/01/24 |
435 | 447,049 | ||||||
| Security | Par/ Shares (000) |
Value | ||||||
|
Wisconsin (continued) |
||||||||
|
State of Wisconsin GO |
||||||||
|
Series 1, 5.00%, 11/01/24 |
$ | 200 | $ | 206,848 | ||||
|
Series 2, 5.00%, 11/01/24 |
2,020 | 2,089,162 | ||||||
|
Series A, 5.00%, 05/01/24 |
450 | 461,793 | ||||||
|
Series C, 5.00%, 05/01/24 |
230 | 236,027 | ||||||
|
State of Wisconsin RB |
||||||||
|
Series A, 5.00%, 05/01/24 |
650 | 666,650 | ||||||
|
Series B, 5.00%, 05/01/24 |
140 | 143,586 | ||||||
|
Wisconsin Department of Transportation, 5.00%, 07/01/24 |
230 | 236,680 | ||||||
|
Wisconsin Department of Transportation RB |
||||||||
|
5.00%, 07/01/36 (PR 07/01/24) |
1,830 | 1,881,949 | ||||||
|
Series 1, 5.00%, 07/01/24 |
385 | 396,182 | ||||||
|
Series 1, 5.00%, 07/01/32 (PR 07/01/24) |
850 | 874,130 | ||||||
|
Series 2, 5.00%, 07/01/24 |
955 | 982,736 | ||||||
|
Series A, 5.00%, 07/01/24 |
160 | 164,647 | ||||||
|
|
|
|||||||
| 9,934,056 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 98.4% |
|
498,286,773 | ||||||
|
|
|
|||||||
|
Short-Term Securities |
| |||||||
| Money Market Funds — 0.4% | ||||||||
|
BlackRock
Liquidity Funds: MuniCash, |
1,856 | 1,855,612 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.4% |
|
1,855,612 | ||||||
|
|
|
|||||||
|
Total
Investments — 98.8% |
|
500,142,385 | ||||||
|
Other Assets Less Liabilities — 1.2% |
|
5,934,999 | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
|
$ | 506,077,384 | |||||
|
|
|
|||||||
| (a) |
Zero-coupon bond. |
| (b) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
| (c) |
Affiliate of the Fund. |
| (d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 935,081 | $ | 920,210 | (a) | $ | — | $ | 330 | $ | (9 | ) | $ | 1,855,612 | 1,856 | $ | 18,792 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
| 58 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2024 Term Muni Bond ETF |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 498,286,773 | $ | — | $ | 498,286,773 | ||||||||
|
Money Market Funds |
1,855,612 | — | — | 1,855,612 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,855,612 | $ | 498,286,773 | $ | — | $ | 500,142,385 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
|
S C H E D U L E O F I N V E S T M E N T S |
59 |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
| Alabama — 0.4% | ||||||||
|
Alabama Federal Aid Highway Finance Authority RB, Series H, 5.00%, 09/01/25 |
$ | 385 | $ | 402,958 | ||||
|
Alabama Public School & College Authority RB, Series B, 5.00%, 05/01/25 |
410 | 426,832 | ||||||
|
City of Huntsville AL GOL |
||||||||
|
5.00%, 05/01/25 |
165 | 171,774 | ||||||
|
Series E, 5.00%, 11/01/25 |
115 | 120,594 | ||||||
|
University of Alabama (The) RB, Series B, 5.00%, 07/01/25 |
130 | 135,461 | ||||||
|
|
|
|||||||
| 1,257,619 | ||||||||
| Alaska — 0.1% | ||||||||
|
City of Anchorage AK Water Revenue RB, Series B, 5.00%, 05/01/25 |
85 | 88,469 | ||||||
|
Municipality of Anchorage AK GO |
||||||||
|
Series C, 5.00%, 09/01/25 |
65 | 67,906 | ||||||
|
Series D, 5.00%, 09/01/25 |
30 | 31,342 | ||||||
|
State of Alaska GO, Series B, 5.00%, 08/01/25 |
160 | 166,958 | ||||||
|
|
|
|||||||
| 354,675 | ||||||||
| Arizona — 2.4% | ||||||||
|
Arizona Health Facilities Authority RB, 5.00%, 01/01/25 |
340 | 350,890 | ||||||
|
Arizona State University RB |
||||||||
|
5.00%, 07/01/25 |
145 | 151,241 | ||||||
|
Series A, 5.00%, 07/01/25 |
220 | 229,470 | ||||||
|
Series B, 5.00%, 07/01/25 |
100 | 104,304 | ||||||
|
Arizona Transportation Board RB, Series A, 5.00%, 07/01/25 |
335 | 349,594 | ||||||
|
City of Phoenix AZ GO, 5.00%, 07/01/25 |
490 | 511,091 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/25 |
1,035 | 1,078,705 | ||||||
|
Series A, 5.00%, 07/01/25 |
615 | 641,661 | ||||||
|
Series D, 5.00%, 07/01/25 |
245 | 253,330 | ||||||
|
City of Tucson AZ Water System Revenue RB, 5.00%, 07/01/25 |
1,075 | 1,121,830 | ||||||
|
City of Tucson Water System Revenue, 5.00%, 07/01/25 |
175 | 182,623 | ||||||
|
County of Pima AZ GOL, 4.00%, 07/01/25 |
120 | 122,258 | ||||||
|
County of Pima AZ Sewer System Revenue RB, 5.00%, 07/01/25 |
390 | 406,787 | ||||||
|
Maricopa County Community College District GO, 5.00%, 07/01/25 |
355 | 370,465 | ||||||
|
Maricopa County High School District No. 210-Phoenix GO, 5.00%, 07/01/25 |
135 | 140,706 | ||||||
|
Maricopa County Unified School District No. 48 Scottsdale GO, Series A, 5.00%, 07/01/25 |
15 | 15,634 | ||||||
|
Maricopa County Unified School District No. 69 Paradise Valley GO, 5.00%, 07/01/25 |
115 | 120,010 | ||||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/25 |
175 | 181,272 | ||||||
|
Series A, 5.00%, 01/01/25 |
880 | 911,536 | ||||||
|
State of Arizona Lottery Revenue RB, 5.00%, 07/01/25 |
200 | 208,557 | ||||||
|
University of Arizona (The) RB, 4.00%, 06/01/25 |
160 | 162,455 | ||||||
|
|
|
|||||||
| 7,614,419 | ||||||||
| California — 13.4% | ||||||||
|
Bay Area Toll Authority RB, 5.00%, 04/01/25 |
200 | 208,279 | ||||||
|
Beverly Hills Unified School District CA GO, 0.00%, 08/01/25(a) |
50 | 45,407 | ||||||
|
California
Educational Facilities Authority RB, |
65 | 68,263 | ||||||
|
California Infrastructure & Economic Development Bank RB |
||||||||
|
4.00%, 08/01/25 |
200 | 202,603 | ||||||
| Security |
Par |
Value | ||||||
| California (continued) | ||||||||
|
5.00%, 10/01/25 |
$ | 245 | $ | 257,789 | ||||
|
California State Public Works Board, 5.00%, 05/01/25 |
265 | 275,879 | ||||||
|
California State Public Works Board RB |
||||||||
|
4.00%, 10/01/25 |
115 | 117,304 | ||||||
|
5.00%, 09/01/25 |
220 | 230,140 | ||||||
|
5.00%, 11/01/25 |
580 | 608,214 | ||||||
|
5.00%, 12/01/25 |
280 | 293,961 | ||||||
|
Series A, 5.00%, 06/01/25 |
80 | 83,385 | ||||||
|
Series B, 5.00%, 04/01/25 |
25 | 25,994 | ||||||
|
Series B, 5.00%, 10/01/25 |
230 | 240,894 | ||||||
|
Series C, 5.00%, 11/01/25 |
75 | 78,648 | ||||||
|
Series D, 5.00%, 04/01/25 |
200 | 207,948 | ||||||
|
Series D, 5.00%, 06/01/25 |
200 | 208,461 | ||||||
|
California State University RB |
||||||||
|
5.00%, 11/01/25 |
125 | 131,336 | ||||||
|
Series A, 4.00%, 11/01/25 |
80 | 81,757 | ||||||
|
Series A, 5.00%, 11/01/25 |
1,830 | 1,922,757 | ||||||
|
Campbell Union High School District GO, Series B, 5.00%, 08/01/25 |
100 | 104,858 | ||||||
|
Carmel Unified School District Go, 4.00%, 08/01/25 |
100 | 102,247 | ||||||
|
City & County of San Francisco CA GO, Series R1, 5.00%, 06/15/25 |
580 | 607,405 | ||||||
|
City of Los Angeles CA GO, 5.00%, 09/01/25 |
190 | 198,967 | ||||||
|
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
|
5.00%, 06/01/25 |
200 | 208,865 | ||||||
|
Series B, 5.00%, 06/01/25 |
335 | 349,849 | ||||||
|
City of Los Angeles Department of Airports, 5.00%, 05/15/25 |
100 | 104,164 | ||||||
|
City of Los Angeles Department of Airports RB |
||||||||
|
5.00%, 05/15/25 |
195 | 203,120 | ||||||
|
Series B, 5.00%, 05/15/25 |
110 | 114,580 | ||||||
|
Series C, 5.00%, 05/15/25 |
160 | 166,662 | ||||||
|
City of Redding CA Electric System Revenue RB, 5.00%, 06/01/25 |
100 | 103,979 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/25 |
515 | 542,158 | ||||||
|
Coast Community College District GO, 5.00%, 08/01/25 |
50 | 52,375 | ||||||
|
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/25 |
180 | 186,918 | ||||||
|
County of Monterey CA COP, 5.00%, 10/01/25 |
270 | 282,406 | ||||||
|
East Bay Municipal Utility District Water System Revenue RB |
||||||||
|
Series A, 4.00%, 06/01/25 |
270 | 275,534 | ||||||
|
Series B, 5.00%, 06/01/25 |
395 | 412,808 | ||||||
|
Eastern Municipal Water District RB, Series A, 5.00%, 07/01/25 |
70 | 73,268 | ||||||
|
El Camino Community College District Foundation (The), 5.00%, 08/01/25 |
15 | 15,713 | ||||||
|
El Camino Community College District Foundation (The) GO, Series-C, 0.00%, 08/01/25(a) |
300 | 272,662 | ||||||
|
Escondido Union High School District GO, Series A, 0.00%, 08/01/25 (AGC)(a) |
60 | 54,034 | ||||||
|
Foothill-De Anza Community College District GO, Series B, 0.00%, 08/01/25 (NPFGC)(a) |
135 | 122,764 | ||||||
|
Hillsborough City School District RB, 0.00%, 09/01/25(a) |
250 | 226,804 | ||||||
|
Imperial Irrigation District Electric System Revenue RB, 5.00%, 11/01/25 |
125 | 130,717 | ||||||
|
Long Beach Unified School District GO, 5.00%, 08/01/25 |
175 | 183,314 | ||||||
|
Los Angeles Community College District/CA GO |
||||||||
|
4.00%, 08/01/25 |
110 | 112,442 | ||||||
|
Series C, 5.00%, 08/01/25 |
330 | 346,210 | ||||||
| 60 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| California (continued) | ||||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 07/01/25 |
$ | 535 | $ | 559,682 | ||||
|
Series A, 5.00%, 06/01/25 |
560 | 585,097 | ||||||
|
Series A, 5.00%, 07/01/25 |
110 | 115,050 | ||||||
|
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue RB, 5.00%, 06/01/25 |
955 | 997,572 | ||||||
|
Los Angeles County Sanitation Districts Financing Authority RB, 5.00%, 10/01/25 |
300 | 313,106 | ||||||
|
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/25 |
165 | 172,532 | ||||||
|
Los
Angeles Department of Water & Power RB, |
160 | 167,303 | ||||||
|
Los Angeles Department of Water & Power System Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/25 |
80 | 83,652 | ||||||
|
Series C, 5.00%, 07/01/25 |
125 | 130,706 | ||||||
|
Los Angeles Department of Water & Power Water System Revenue RB, 5.00%, 07/01/25 |
75 | 78,502 | ||||||
|
Los Angeles Department of Water RB |
||||||||
|
5.00%, 07/01/25 |
105 | 109,902 | ||||||
|
Series B, 5.00%, 07/01/25 |
590 | 617,546 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
5.00%, 07/01/25 |
460 | 481,357 | ||||||
|
Series A, 5.00%, 07/01/25 |
1,970 | 2,061,461 | ||||||
|
Los Rios Community College District GO |
||||||||
|
5.00%, 08/01/25 |
100 | 104,751 | ||||||
|
Series C, 4.00%, 08/01/25 |
100 | 102,275 | ||||||
|
Manhattan Beach Unified School District GO, 0.00%, 09/01/25 (NPFGC)(a) |
170 | 153,670 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
5.00%, 07/01/25 |
120 | 125,446 | ||||||
|
5.00%, 10/01/25 |
70 | 73,614 | ||||||
|
Series A, 2.50%, 07/01/25 |
375 | 363,771 | ||||||
|
Series A, 5.00%, 07/01/25 |
350 | 366,114 | ||||||
|
Mount San Antonio Community College District GO, Series A, 0.00%, 08/01/25(a) |
100 | 91,035 | ||||||
|
Newport Mesa Unified School District GO, 0.00%, 08/01/25 (NPFGC)(a) |
225 | 203,835 | ||||||
|
Oak Grove School District GO, Series A, 0.00%, 08/01/25(a) |
25 | 22,581 | ||||||
|
Orange County Water District RB, Series C, 5.00%, 08/15/25 |
220 | 230,830 | ||||||
|
Palo Alto Unified School District GO, 0.00%, 08/01/25(a) |
560 | 509,519 | ||||||
|
Palomar Community College District, 5.00%, 08/01/44 (PR 08/01/25) |
500 | 524,292 | ||||||
|
Palomar Community College District GO, Series B, 0.00%, 08/01/25(a) |
325 | 293,240 | ||||||
|
Pasadena Area Community College District GO, Series A, 5.00%, 08/01/25 |
30 | 31,425 | ||||||
|
Rancho
Water District Financing Authority RB, |
190 | 199,231 | ||||||
|
Rio Hondo Community College District/CA GO, 5.00%, 08/01/25 |
75 | 78,362 | ||||||
|
Riverside Community College District, 0.00%, 08/01/35 (PR 02/01/25)(a) |
2,935 | 1,635,675 | ||||||
|
Riverside Community College District GO, Series D, 0.00%, 08/01/25(a) |
105 | 94,560 | ||||||
|
Riverside County Transportation Commission Sales Tax Revenue RB, 5.00%, 06/01/25 |
110 | 114,931 | ||||||
|
Sacramento City Financing Authority RB, 5.25%, 12/01/25 (AMBAC) |
25 | 26,406 | ||||||
| Security |
Par |
Value | ||||||
| California (continued) | ||||||||
|
Sacramento County Sanitation Districts Financing Authority RB |
||||||||
|
5.00%, 08/01/25 |
$ | 100 | $ | 104,643 | ||||
|
5.00%, 12/01/25 |
335 | 352,306 | ||||||
|
Sacramento Municipal Utility District RB |
||||||||
|
5.00%, 07/01/25 |
230 | 240,439 | ||||||
|
5.00%, 08/15/25 |
50 | 52,461 | ||||||
|
Series E, 5.00%, 08/15/25 |
210 | 220,337 | ||||||
|
San Diego Community College District GO, 5.00%, 08/01/25 |
220 | 230,689 | ||||||
|
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/25 |
255 | 266,099 | ||||||
|
San Diego Public Facilities Financing Authority RB |
||||||||
|
Series A, 5.00%, 08/01/25 |
100 | 104,509 | ||||||
|
Series B, 5.00%, 08/01/25 |
140 | 146,238 | ||||||
|
San Diego Unified School District/CA GO |
||||||||
|
5.00%, 07/01/25 |
235 | 246,094 | ||||||
|
Series C-2, 5.50%, 07/01/25 (AGM) |
280 | 297,138 | ||||||
|
Series D-1, 5.50%, 07/01/25 (NPFGC) |
140 | 148,384 | ||||||
|
Series J-2, 4.00%, 07/01/25 |
135 | 137,713 | ||||||
|
Series J-2, 5.00%, 07/01/25 |
140 | 146,609 | ||||||
|
San Francisco Bay Area Rapid Transit District GO, 5.00%, 08/01/25 |
290 | 303,933 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB, 5.00%, 05/01/25 |
345 | 358,828 | ||||||
|
San Francisco City & County Public Utilities Commission Wastewater Revenue RB |
||||||||
|
Series A, 4.00%, 10/01/25 |
275 | 281,279 | ||||||
|
Series A, 5.00%, 10/01/25 |
195 | 205,012 | ||||||
|
San Francisco County Transportation Authority RB, 4.00%, 02/01/25 |
115 | 117,049 | ||||||
|
San Jose Evergreen Community College District GO, 5.00%, 09/01/25 |
90 | 94,397 | ||||||
|
San Jose Unified School District GO, Series C, 0.00%, 08/01/25 (NPFGC)(a) |
170 | 154,300 | ||||||
|
San Mateo County Community College District GO |
||||||||
|
Series A, 0.00%, 09/01/25 (NPFGC)(a) |
130 | 118,037 | ||||||
|
Series B, 0.00%, 09/01/25 (NPFGC)(a) |
425 | 385,889 | ||||||
|
San Mateo Foster City Public Financing Authority RB |
||||||||
|
Series B, 5.00%, 08/01/25 |
1,050 | 1,099,038 | ||||||
|
Series-A, 5.00%, 08/01/25 |
305 | 319,244 | ||||||
|
San Mateo Union High School District GO, 0.00%, 09/01/25 (NPFGC)(a) |
300 | 269,979 | ||||||
|
Santa
Clara Valley Transportation Authority RB, |
640 | 669,501 | ||||||
|
Santa Monica-Malibu Unified School District GO, 4.00%, 08/01/25 |
125 | 127,676 | ||||||
|
Sequoia Union High School District GO |
||||||||
|
4.00%, 07/01/25 |
220 | 224,808 | ||||||
|
5.00%, 07/01/25 |
510 | 534,077 | ||||||
|
Southern California Public Power Authority RB, 5.00%, 07/01/25 |
150 | 156,925 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
5.00%, 12/01/25 |
460 | 485,146 | ||||||
|
Series AW, 5.00%, 12/01/25 |
100 | 105,466 | ||||||
|
Series AX, 5.00%, 12/01/25 |
240 | 253,120 | ||||||
|
State of California GO |
||||||||
|
4.00%, 03/01/25 |
20 | 20,317 | ||||||
|
4.00%, 09/01/25 |
465 | 473,960 | ||||||
|
4.00%, 10/01/25 |
200 | 203,952 | ||||||
|
4.00%, 11/01/25 |
250 | 255,062 | ||||||
|
5.00%, 03/01/25 |
150 | 155,971 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
61 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| California (continued) | ||||||||
|
5.00%, 04/01/25 |
$ | 285 | $ | 296,730 | ||||
|
5.00%, 08/01/25 |
1,265 | 1,323,739 | ||||||
|
5.00%, 09/01/25 |
2,020 | 2,116,453 | ||||||
|
5.00%, 10/01/25 |
2,130 | 2,234,517 | ||||||
|
5.00%, 11/01/25 |
570 | 598,725 | ||||||
|
Series B, 5.00%, 08/01/25 |
770 | 805,754 | ||||||
|
Series B, 5.00%, 09/01/25 |
185 | 193,834 | ||||||
|
University of California RB |
||||||||
|
5.00%, 05/15/25 |
235 | 245,543 | ||||||
|
Series AO, 5.00%, 05/15/25 |
335 | 350,030 | ||||||
|
Series AY, 5.00%, 05/15/25 |
180 | 188,076 | ||||||
|
Series I, 5.00%, 05/15/25 |
445 | 464,412 | ||||||
|
Upper Santa Clara Valley Joint Powers Authority RB, Series A, |
||||||||
|
5.00%, 08/01/25 |
85 | 89,038 | ||||||
|
|
|
|||||||
| 41,636,349 | ||||||||
| Colorado — 0.9% | ||||||||
|
Board of Governors of Colorado State University System RB, Series C, 2.50%, 03/01/25 |
25 | 24,482 | ||||||
|
Board of Water Commissioners City & County of Denver (The) RB, Series A, 4.00%, 09/15/25 |
80 | 81,627 | ||||||
|
City & County of Denver Co. Airport System Revenue RB, Series A, 5.00%, 11/15/25 |
185 | 193,287 | ||||||
|
City of Colorado Springs CO Utilities System Revenue RB, Series A-1, 5.00%, 11/15/25 |
255 | 267,549 | ||||||
|
City of Colorado Springs Co. Utilities System Revenue RB, 5.00%, 11/15/25 |
425 | 445,914 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/25 |
100 | 102,848 | ||||||
|
County of Adams Co. COP, 5.00%, 12/01/25 |
130 | 135,977 | ||||||
|
Denver City & County School District No. 1 COP, Series A, 5.00%, 12/01/25 |
100 | 104,687 | ||||||
|
Denver City & County School District No. 1 GO |
||||||||
|
5.00%, 12/01/25 (SAW) |
235 | 246,717 | ||||||
|
Series A, 5.50%, 12/01/25 (SAW) |
305 | 324,640 | ||||||
|
E-470 Public Highway Authority RB, Series B, 0.00%, 09/01/25 (NPFGC)(a) |
270 | 241,301 | ||||||
|
State of Colorado COP |
||||||||
|
Series K, 5.00%, 03/15/25 |
140 | 145,045 | ||||||
|
Series L, 5.00%, 03/15/25 |
25 | 25,901 | ||||||
|
University of Colorado RB, Series A, 5.00%, 06/01/25 (NPFGC) |
375 | 390,487 | ||||||
|
|
|
|||||||
| 2,730,462 | ||||||||
| Connecticut — 2.1% | ||||||||
|
State of Connecticut Clean Water Fund - State Revolving Fund RB, 5.00%, 02/01/25 |
100 | 103,823 | ||||||
|
State of Connecticut GO |
||||||||
|
4.00%, 06/01/25 |
285 | 289,092 | ||||||
|
5.00%, 09/15/25 |
1,100 | 1,149,817 | ||||||
|
Series A, 5.00%, 01/15/25 |
1,500 | 1,553,043 | ||||||
|
Series A, 5.00%, 04/15/25 |
170 | 176,656 | ||||||
|
Series B, 3.00%, 06/01/25 |
100 | 98,173 | ||||||
|
Series B, 5.00%, 05/15/25 |
300 | 312,120 | ||||||
|
Series B, 5.00%, 06/15/25 |
100 | 104,161 | ||||||
|
Series C, 5.00%, 06/15/25 |
240 | 249,987 | ||||||
|
Series E, 5.00%, 09/15/25 |
275 | 287,454 | ||||||
|
Series E, 5.00%, 10/15/25 |
150 | 156,936 | ||||||
|
Series F, 5.00%, 11/15/25 |
390 | 408,502 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
Series A, 5.00%, 01/01/25 |
185 | 191,395 | ||||||
|
Series A, 5.00%, 08/01/25 |
100 | 104,322 | ||||||
| Security |
Par |
Value | ||||||
| Connecticut (continued) | ||||||||
|
Series A, 5.00%, 09/01/25 |
$ | 445 | $ | 464,775 | ||||
|
Series B, 5.00%, 08/01/25 |
160 | 166,915 | ||||||
|
Series B, 5.00%, 10/01/25 |
225 | 235,275 | ||||||
|
University of Connecticut RB, Series A, 5.00%, 02/15/25 |
500 | 517,640 | ||||||
|
|
|
|||||||
| 6,570,086 | ||||||||
| Delaware — 1.9% | ||||||||
|
City of Wilmington DE GO, 5.00%, 12/01/25 |
20 | 20,967 | ||||||
|
County of New Castle DE GO |
||||||||
|
5.00%, 10/01/33 (PR 10/01/25) |
1,565 | 1,640,015 | ||||||
|
5.00%, 10/01/35 (PR 10/01/25) |
2,260 | 2,368,328 | ||||||
|
Delaware Transportation Authority, 5.00%, 09/01/25 |
170 | 177,041 | ||||||
|
Delaware Transportation Authority RB |
||||||||
|
4.00%, 07/01/25 |
50 | 50,913 | ||||||
|
5.00%, 07/01/25 |
510 | 532,217 | ||||||
|
State of Delaware GO |
||||||||
|
5.00%, 03/01/25 |
160 | 166,332 | ||||||
|
5.00%, 10/01/25 |
165 | 173,050 | ||||||
|
Series 2009C, 5.00%, 10/01/25 |
790 | 828,540 | ||||||
|
Series A, 5.00%, 02/01/25 |
100 | 103,823 | ||||||
|
|
|
|||||||
| 6,061,226 | ||||||||
| District of Columbia — 2.0% | ||||||||
|
District of Columbia, Series C, 5.00%, 05/01/25 |
230 | 239,386 | ||||||
|
District of Columbia GO |
||||||||
|
5.00%, 02/01/25 |
630 | 653,810 | ||||||
|
Series A, 5.00%, 06/01/25 |
320 | 333,780 | ||||||
|
Series A, 5.00%, 10/15/25 |
660 | 692,223 | ||||||
|
Series B, 5.00%, 06/01/25 |
385 | 401,579 | ||||||
|
Series D, 5.00%, 06/01/25 |
165 | 172,105 | ||||||
|
Series E, 5.00%, 06/01/25 |
250 | 260,766 | ||||||
|
District of Columbia RB |
||||||||
|
5.00%, 12/01/25 |
150 | 157,165 | ||||||
|
Series A, 5.00%, 03/01/25 |
75 | 77,866 | ||||||
|
Series A, 5.00%, 12/01/25 |
250 | 262,390 | ||||||
|
Series B, 5.00%, 10/01/25 |
485 | 507,835 | ||||||
|
Series C, 5.00%, 10/01/25 |
815 | 853,371 | ||||||
|
District of Columbia Water & Sewer Authority RB |
||||||||
|
Series A, 5.00%, 10/01/25 |
550 | 576,207 | ||||||
|
Series B, 5.00%, 10/01/25 |
270 | 282,942 | ||||||
|
Metropolitan Washington Airports Authority Aviation Revenue RB, 5.00%, 10/01/25 |
200 | 208,624 | ||||||
|
Washington Metropolitan Area Transit Authority, 5.00%, 07/01/25 |
225 | 234,568 | ||||||
|
Washington Metropolitan Area Transit Authority RB, Series A1, 5.00%, 07/01/25 |
335 | 349,246 | ||||||
|
|
|
|||||||
| 6,263,863 | ||||||||
| Florida — 2.9% | ||||||||
|
Central Florida Expressway Authority RB, 5.00%, 07/01/25 |
140 | 145,409 | ||||||
|
County of Miami-Dade FL Aviation Revenue RB |
||||||||
|
5.00%, 10/01/25 |
120 | 124,163 | ||||||
|
Series B, 5.00%, 10/01/25 |
275 | 284,541 | ||||||
|
County of Miami-Dade FL GO, Series-D, 5.00%, 07/01/25 |
215 | 224,031 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB, 5.00%, 10/01/25 |
855 | 887,296 | ||||||
|
County of Orange FL Water Utility System Revenue RB, 5.00%, 10/01/25 |
385 | 403,017 | ||||||
|
County
of Seminole FL Sales Tax Revenue RB, |
60 | 63,341 | ||||||
|
Florida Department of Environmental Protection RB 5.00%, 07/01/25 |
918 | 957,991 | ||||||
| 62 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Florida (continued) | ||||||||
|
Series A, 5.00%, 07/01/25 |
$ | 230 | $ | 240,020 | ||||
|
Florida Department of Management Services COP, Series A, 5.00%, 08/01/25 |
245 | 255,720 | ||||||
|
Florida State Development Commission/Everglades Parkway RB, Series A, 5.00%, 07/01/25 |
60 | 62,567 | ||||||
|
Hillsborough County Aviation Authority RB, 5.00%, 10/01/25 |
200 | 208,624 | ||||||
|
Hillsborough County School Board COP, Series A, 5.00%, 07/01/25 |
185 | 190,957 | ||||||
|
Orange County School Board COP, 5.00%, 08/01/25 |
50 | 52,014 | ||||||
|
Palm Beach County School District, 5.00%, 08/01/25 |
500 | 518,015 | ||||||
|
Palm Beach County School District COP, Series B, 5.00%, 08/01/25 |
165 | 170,945 | ||||||
|
School
Board of Miami-Dade County (The) COP, |
265 | 274,912 | ||||||
|
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/25 |
245 | 253,886 | ||||||
|
School District of Broward County/FL COP |
||||||||
|
Series A, 5.00%, 07/01/25 |
165 | 171,205 | ||||||
|
Series C, 5.00%, 07/01/25 |
165 | 171,205 | ||||||
|
School District of Broward County/FL GO, 5.00%, 07/01/25 |
180 | 187,608 | ||||||
|
State of Florida Department of Transportation RB, 5.00%, 07/01/25 |
375 | 391,150 | ||||||
|
State of Florida Department of Transportation Turnpike System Revenue RB |
||||||||
|
5.00%, 07/01/25 |
235 | 245,115 | ||||||
|
Series A, 5.00%, 07/01/25 |
695 | 724,915 | ||||||
|
Series-B, 5.00%, 07/01/25 |
145 | 151,241 | ||||||
|
State of Florida GO |
||||||||
|
Series A, 5.00%, 06/01/25 |
277 | 288,998 | ||||||
|
Series A, 5.00%, 07/01/25 |
50 | 52,165 | ||||||
|
Series B, 5.00%, 06/01/25 |
190 | 198,230 | ||||||
|
Series B, 5.00%, 07/01/25 |
35 | 36,516 | ||||||
|
Series C, 5.00%, 06/01/25 |
295 | 307,778 | ||||||
|
Series D, 5.00%, 06/01/25 |
85 | 88,682 | ||||||
|
State of Florida Lottery Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/25 |
340 | 354,370 | ||||||
|
Series B, 5.00%, 07/01/25 |
260 | 270,989 | ||||||
|
Tampa Bay Water RB, Series C, 5.00%, 10/01/25 |
85 | 88,569 | ||||||
|
Volusia County School Board COP, Series A, 5.00%, 08/01/25 (BAM) |
90 | 94,034 | ||||||
|
|
|
|||||||
| 9,140,219 | ||||||||
| Georgia — 2.5% | ||||||||
|
City of Atlanta GA, 5.00%, 12/01/25 |
250 | 262,754 | ||||||
|
City of Atlanta GA Department of Aviation RB, 5.00%, 07/01/25 |
300 | 311,902 | ||||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
5.75%, 11/01/25 (AGM) |
195 | 208,570 | ||||||
|
Series B, 5.00%, 11/01/25 |
245 | 256,846 | ||||||
|
County of Forsyth GA GO, 5.00%, 09/01/25 |
110 | 115,222 | ||||||
|
Forsyth County School District GO, 5.00%, 02/01/25 |
105 | 109,038 | ||||||
|
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/25 |
715 | 744,169 | ||||||
|
Gwinnett County School District GO, 5.00%, 02/01/25 |
620 | 643,705 | ||||||
|
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/25 |
295 | 308,619 | ||||||
|
Henry County School District, 4.00%, 08/01/25 (SAW) |
100 | 101,877 | ||||||
|
Metropolitan Atlanta Rapid Transit Authority RB |
||||||||
|
5.25%, 07/01/25 (NPFGC) |
100 | 104,989 | ||||||
|
Series A, 4.00%, 07/01/25 |
250 | 254,565 | ||||||
|
Municipal Electric Authority of Georgia RB, 5.00%, 01/01/25 |
145 | 148,517 | ||||||
| Security |
Par |
Value | ||||||
| Georgia (continued) | ||||||||
|
Private Colleges & Universities Authority RB |
||||||||
|
Series B, 5.00%, 09/01/25 |
$ | 1,115 | $ | 1,165,471 | ||||
|
Series B, 5.00%, 10/01/25 |
395 | 413,373 | ||||||
|
State of Georgia GO |
||||||||
|
Series A, 5.00%, 02/01/25 |
435 | 451,728 | ||||||
|
Series A, 5.00%, 07/01/25 |
85 | 88,836 | ||||||
|
Series A1, 5.00%, 02/01/25 |
730 | 758,072 | ||||||
|
Series A-1, 5.00%, 02/01/25 |
85 | 88,269 | ||||||
|
Series C1, 4.00%, 01/01/25 |
650 | 660,507 | ||||||
|
Series C1, 4.00%, 07/01/25 |
165 | 168,224 | ||||||
|
Series E, 5.00%, 12/01/25 |
125 | 131,457 | ||||||
|
Series F, 5.00%, 07/01/25 |
125 | 130,641 | ||||||
|
|
|
|||||||
| 7,627,351 | ||||||||
| Hawaii — 1.5% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
|
5.00%, 07/01/25 |
725 | 756,194 | ||||||
|
Series B, 5.00%, 07/01/25 |
185 | 193,059 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
5.00%, 09/01/25 |
200 | 209,218 | ||||||
|
Series A, 5.00%, 10/01/25 |
175 | 183,289 | ||||||
|
Series B, 5.00%, 09/01/25 |
225 | 235,371 | ||||||
|
Series C, 5.00%, 10/01/25 |
65 | 68,079 | ||||||
|
Series E, 5.00%, 09/01/25 |
200 | 209,218 | ||||||
|
County of Hawaii HI GO, Series D, 5.00%, 09/01/25 |
450 | 470,493 | ||||||
|
State of Hawaii GO |
||||||||
|
5.00%, 10/01/25 |
295 | 309,224 | ||||||
|
Series EZ, 5.00%, 10/01/25 |
355 | 372,117 | ||||||
|
Series FE, 5.00%, 10/01/25 |
140 | 146,750 | ||||||
|
Series FH, 5.00%, 10/01/25 |
170 | 178,197 | ||||||
|
Series FK, 5.00%, 05/01/25 |
175 | 182,313 | ||||||
|
Series FN, 5.00%, 10/01/25 |
350 | 366,876 | ||||||
|
Series FT, 5.00%, 01/01/25 |
185 | 191,748 | ||||||
|
State of Hawaii State Highway Fund RB |
||||||||
|
Series A, 4.00%, 01/01/25 |
125 | 126,759 | ||||||
|
Series B, 5.00%, 01/01/25 |
315 | 325,955 | ||||||
|
University of Hawaii RB |
||||||||
|
5.00%, 10/01/25 |
90 | 94,008 | ||||||
|
Series B, 5.00%, 10/01/25 |
115 | 120,121 | ||||||
|
|
|
|||||||
| 4,738,989 | ||||||||
| Idaho — 0.3% | ||||||||
|
Idaho Housing & Finance Association RB, 5.00%, 07/15/25 |
910 | 946,586 | ||||||
|
|
|
|||||||
| Illinois — 3.1% | ||||||||
|
Chicago O’Hare International Airport RB |
||||||||
|
5.00%, 01/01/25 |
540 | 555,475 | ||||||
|
Series C, 5.00%, 01/01/25 |
155 | 159,344 | ||||||
|
Series F, 5.00%, 01/01/25 |
150 | 154,204 | ||||||
|
County of Will IL GO, 5.00%, 11/15/41 (PR 11/15/25) |
2,000 | 2,099,645 | ||||||
|
Illinois Finance Authority RB |
||||||||
|
4.00%, 07/01/25 |
720 | 732,043 | ||||||
|
5.00%, 01/01/25 |
130 | 134,576 | ||||||
|
5.00%, 07/01/25 |
405 | 422,327 | ||||||
|
5.00%, 12/01/25 |
390 | 408,279 | ||||||
|
Illinois State Toll Highway Authority RB |
||||||||
|
5.00%, 01/01/25 |
115 | 118,683 | ||||||
|
Series B, 5.00%, 01/01/25 |
405 | 417,971 | ||||||
|
Sales Tax Securitization Corp. RB, Series A, 5.00%, 01/01/25 |
500 | 512,128 | ||||||
|
State of Illinois GO |
||||||||
|
5.00%, 01/01/25 |
155 | 156,254 | ||||||
|
5.00%, 02/01/25 |
320 | 322,545 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
63 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Illinois (continued) | ||||||||
|
5.00%, 10/01/25 |
$ | 100 | $ | 100,777 | ||||
|
5.50%, 05/01/25 |
210 | 214,113 | ||||||
|
Series A, 5.00%, 03/01/25 |
460 | 463,589 | ||||||
|
Series B, 5.00%, 03/01/25 |
500 | 503,901 | ||||||
|
Series D, 5.00%, 11/01/25 |
1,925 | 1,939,893 | ||||||
|
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/25 |
200 | 203,868 | ||||||
|
|
|
|||||||
| 9,619,615 | ||||||||
| Indiana — 1.7% | ||||||||
|
City of Indianapolis Department of Public Utilities Water System Revenue RB, 5.00%, 10/01/25 |
275 | 287,333 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 02/01/25 |
285 | 296,148 | ||||||
|
5.00%, 02/01/31 (PR 02/01/25) |
2,230 | 2,313,789 | ||||||
|
Series B, 5.00%, 02/01/25 |
365 | 379,278 | ||||||
|
Series C, 5.00%, 12/01/25 |
670 | 704,008 | ||||||
|
Indiana University RB, 5.00%, 06/01/25 |
580 | 604,100 | ||||||
|
Indianapolis Local Public Improvement Bond Bank RB, 5.00%, 01/01/25 |
110 | 113,709 | ||||||
|
Purdue University COP, Series A, 5.00%, 07/01/25 |
115 | 119,860 | ||||||
|
Purdue University RB |
||||||||
|
5.00%, 07/01/25 |
295 | 307,238 | ||||||
|
Series A, 5.25%, 07/01/25 |
190 | 199,231 | ||||||
|
|
|
|||||||
| 5,324,694 | ||||||||
| Iowa — 0.5% | ||||||||
|
County of Polk IA GO, 5.00%, 06/01/25 |
175 | 182,228 | ||||||
|
Iowa Finance Authority RB, 5.00%, 08/01/25 |
480 | 501,645 | ||||||
|
State of Iowa GO |
||||||||
|
5.00%, 06/15/25 |
445 | 463,291 | ||||||
|
Series-A, 5.00%, 06/01/25 |
250 | 260,199 | ||||||
|
State of Iowa RB, Series A, 5.00%, 06/01/25 |
185 | 192,547 | ||||||
|
|
|
|||||||
| 1,599,910 | ||||||||
| Kansas — 0.8% | ||||||||
|
County of Johnson KS, 5.00%, 09/01/25 |
105 | 109,811 | ||||||
|
Johnson County Public Building Commission RB |
||||||||
|
5.00%, 09/01/25 |
180 | 187,801 | ||||||
|
Series A, 5.00%, 09/01/25 |
240 | 250,401 | ||||||
|
Johnson County Unified School District No. 512 Shawnee Mission GO |
||||||||
|
5.00%, 10/01/31 (PR 10/01/25) |
800 | 838,346 | ||||||
|
Series B, 5.00%, 10/01/25 |
205 | 214,943 | ||||||
|
Sedgwick County Unified School District No. 265 Goddard GO, Series B, 5.00%, 10/01/25 |
20 | 20,930 | ||||||
|
State of Kansas Department of Transportation RB |
||||||||
|
5.00%, 09/01/25 |
690 | 720,283 | ||||||
|
Series A, 5.00%, 09/01/25 |
275 | 287,069 | ||||||
|
|
|
|||||||
| 2,629,584 | ||||||||
| Louisiana — 0.4% | ||||||||
|
State of Louisiana Gasoline & Fuels Tax Revenue RB, Series B, 5.00%, 05/01/25 |
395 | 410,928 | ||||||
|
State of Louisiana GO |
||||||||
|
Series A, 5.00%, 03/01/25 |
110 | 114,203 | ||||||
|
Series A, 5.00%, 09/01/25 |
200 | 208,833 | ||||||
|
Series B, 5.00%, 05/01/25 |
40 | 41,613 | ||||||
|
Series B, 5.00%, 08/01/25 |
315 | 328,698 | ||||||
|
State of Louisiana RB, 5.00%, 09/01/25 |
245 | 256,157 | ||||||
|
|
|
|||||||
| 1,360,432 | ||||||||
| Maine — 0.4% | ||||||||
|
Maine Governmental Facilities Authority RB, 5.00%, 10/01/25 |
105 | 109,468 | ||||||
| Security |
Par |
Value | ||||||
| Maine (continued) | ||||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
5.00%, 11/01/25 |
$ | 400 | $ | 418,875 | ||||
|
Series A, 5.00%, 09/01/25 |
250 | 260,766 | ||||||
|
Series B, 5.00%, 11/01/25 |
125 | 130,898 | ||||||
|
State of Maine GO, Series B, 5.00%, 06/01/25 |
285 | 297,058 | ||||||
|
|
|
|||||||
| 1,217,065 | ||||||||
| Maryland — 4.1% | ||||||||
|
City of Baltimore MD RB |
||||||||
|
5.00%, 07/01/25 |
295 | 306,557 | ||||||
|
Series A, 5.00%, 07/01/25 |
190 | 197,981 | ||||||
|
County of Anne Arundel MD GOL, 5.00%, 10/01/25 |
1,230 | 1,290,006 | ||||||
|
County of Baltimore MD GO |
||||||||
|
5.00%, 03/01/25 |
500 | 519,788 | ||||||
|
5.00%, 08/01/25 |
125 | 130,771 | ||||||
|
County of Charles MD GO, 5.00%, 10/01/25 |
60 | 62,927 | ||||||
|
County of Frederick MD, 5.00%, 08/01/25 |
300 | 313,683 | ||||||
|
County of Howard MD GO |
||||||||
|
5.00%, 08/15/25 |
285 | 298,331 | ||||||
|
Series A, 5.00%, 02/15/25 |
365 | 379,183 | ||||||
|
County of Montgomery MD COP, Series B, 5.00%, 04/01/25 |
100 | 103,856 | ||||||
|
County of Montgomery MD GO |
||||||||
|
5.00%, 11/01/25 |
1,000 | 1,050,102 | ||||||
|
Series C, 5.00%, 10/01/25 |
175 | 183,537 | ||||||
|
Series D, 4.00%, 11/01/25 |
490 | 500,519 | ||||||
|
County of Prince George’s MD GOL |
||||||||
|
5.00%, 07/15/25 |
1,500 | 1,568,205 | ||||||
|
Series A, 5.00%, 07/15/25 |
305 | 318,868 | ||||||
|
Series B, 5.00%, 07/15/25 |
45 | 47,046 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
4.00%, 09/01/25 |
400 | 407,169 | ||||||
|
5.00%, 09/01/25 |
315 | 329,519 | ||||||
|
5.00%, 10/01/25 |
390 | 408,472 | ||||||
|
5.00%, 12/01/25 |
130 | 136,093 | ||||||
|
State of Maryland GO |
||||||||
|
Second Series A, 5.00%, 08/01/25 |
435 | 454,849 | ||||||
|
Second Series B, 5.00%, 08/01/25 |
365 | 381,655 | ||||||
|
Series A, 5.00%, 03/15/25 |
175 | 181,954 | ||||||
|
Series A, 5.00%, 08/01/25 |
155 | 162,073 | ||||||
|
Series B, 4.00%, 08/01/25 |
335 | 341,464 | ||||||
|
Series B, 5.00%, 08/01/25 |
1,945 | 2,033,749 | ||||||
|
Washington Suburban Sanitary Commission GO |
||||||||
|
4.00%, 06/01/25 (GTD) |
65 | 66,219 | ||||||
|
5.00%, 06/01/25 (GTD) |
520 | 542,655 | ||||||
|
Washington Suburban Sanitary Commission RB, 5.00%, 06/01/25 (GTD) |
180 | 187,843 | ||||||
|
|
|
|||||||
| 12,905,074 | ||||||||
| Massachusetts — 3.2% | ||||||||
|
City of Boston MA GO, Series A, 5.00%, 11/01/25 |
200 | 210,137 | ||||||
|
Commonwealth of Massachusetts GO, Series A, 5.00%, 01/01/25 |
235 | 243,521 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
5.00%, 07/01/25 |
100 | 104,408 | ||||||
|
Series A, 5.00%, 07/01/25 |
225 | 234,919 | ||||||
|
Series B, 5.00%, 04/01/25 |
160 | 166,434 | ||||||
|
Series B, 5.00%, 07/01/25 |
235 | 245,360 | ||||||
|
Series B, 5.25%, 09/01/25 (AGM) |
375 | 395,006 | ||||||
|
Series C, 5.00%, 08/01/25 |
840 | 878,103 | ||||||
|
Series C, 5.00%, 09/01/25 |
135 | 141,297 | ||||||
|
Series C, 5.00%, 10/01/25 |
780 | 817,388 | ||||||
| 64 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Massachusetts (continued) | ||||||||
|
Series D, 5.00%, 07/01/25 |
$ | 360 | $ | 375,870 | ||||
|
Series E, 5.00%, 11/01/25 (AMBAC) |
90 | 94,430 | ||||||
|
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/25 |
240 | 250,154 | ||||||
|
Massachusetts Bay Transportation Authority RB, Series A, 5.00%, 07/01/25 |
990 | 1,033,900 | ||||||
|
Massachusetts Clean Water Trust (The) RB |
||||||||
|
5.00%, 08/01/25 |
1,520 | 1,589,356 | ||||||
|
Series 22, 5.00%, 08/01/25 |
85 | 88,947 | ||||||
|
Massachusetts Development Finance Agency RB |
||||||||
|
Series A, 5.00%, 07/15/25 |
685 | 716,328 | ||||||
|
Series A, 5.00%, 10/15/25 |
250 | 262,422 | ||||||
|
Massachusetts School Building Authority RB |
||||||||
|
5.00%, 01/15/25 |
130 | 134,737 | ||||||
|
5.00%, 02/15/25 |
150 | 155,661 | ||||||
|
Series A, 5.00%, 11/15/41 (PR 11/15/25) |
250 | 262,456 | ||||||
|
Series C, 5.00%, 08/15/25 |
250 | 261,354 | ||||||
|
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/25 |
445 | 460,476 | ||||||
|
Massachusetts Water Resources Authority |
||||||||
|
5.00%, 08/01/25 |
110 | 114,931 | ||||||
|
5.00%, 08/01/25 (ETM) |
25 | 26,067 | ||||||
|
Massachusetts Water Resources Authority RB |
||||||||
|
5.00%, 08/01/25 |
300 | 313,447 | ||||||
|
Series B, 5.25%, 08/01/25 (AGM) |
15 | 15,786 | ||||||
|
Series C, 5.00%, 08/01/25 |
10 | 10,448 | ||||||
|
Town of Watertown MA GOL, 5.00%, 02/01/25 |
225 | 233,652 | ||||||
|
University of Massachusetts Building Authority RB, 5.00%, 11/01/25 |
25 | 26,201 | ||||||
|
|
|
|||||||
| 9,863,196 | ||||||||
| Michigan — 1.0% | ||||||||
|
Michigan Finance Authority RB |
||||||||
|
Series A, 5.00%, 12/01/25 |
185 | 193,230 | ||||||
|
Series B, 5.00%, 10/01/25 |
465 | 487,025 | ||||||
|
Michigan State Building Authority RB |
||||||||
|
5.00%, 04/15/25 |
210 | 217,871 | ||||||
|
Series I, 5.00%, 04/15/25 |
370 | 383,868 | ||||||
|
State of Michigan GO |
||||||||
|
Series A, 5.00%, 05/01/25 |
130 | 135,496 | ||||||
|
Series B, 4.00%, 11/01/25 |
120 | 122,576 | ||||||
|
State of Michigan RB, 5.00%, 03/15/25 |
770 | 799,171 | ||||||
|
State of Michigan Trunk Line Revenue RB, 5.00%, 11/15/25 |
45 | 47,228 | ||||||
|
University of Michigan RB |
||||||||
|
5.00%, 04/01/25 |
380 | 395,281 | ||||||
|
Series A, 5.00%, 04/01/25 |
290 | 301,662 | ||||||
|
Wayne County Airport Authority RB, Series A, 5.00%, 12/01/25 |
25 | 25,890 | ||||||
|
|
|
|||||||
| 3,109,298 | ||||||||
| Minnesota — 1.7% | ||||||||
|
City of Minneapolis MN GO, 4.00%, 12/01/25 |
150 | 153,163 | ||||||
|
County of Hennepin MN GO, Series A, 5.00%, 12/01/25 |
250 | 261,419 | ||||||
|
Metropolitan Council GO |
||||||||
|
5.00%, 03/01/25 |
130 | 135,086 | ||||||
|
Series A, 5.00%, 03/01/25 |
90 | 93,418 | ||||||
|
Series B, 5.00%, 12/01/25 |
1,000 | 1,049,261 | ||||||
|
Minneapolis-St Paul Metropolitan Airports Commission RB |
||||||||
|
Series A, 5.00%, 01/01/25 |
135 | 139,352 | ||||||
|
Series C, 5.00%, 01/01/25 |
125 | 129,004 | ||||||
|
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/25 |
125 | 129,890 | ||||||
| Security |
Par |
Value | ||||||
| Minnesota (continued) | ||||||||
|
Southern Minnesota Municipal Power Agency RB, Series A, 0.00%, 01/01/25 (NPFGC)(a) |
$ | 55 | $ | 50,699 | ||||
|
State of Minnesota GO |
||||||||
|
Series A, 5.00%, 08/01/25 |
495 | 517,453 | ||||||
|
Series A, 5.00%, 10/01/25 |
165 | 172,909 | ||||||
|
Series B, 5.00%, 08/01/25 |
265 | 277,021 | ||||||
|
Series B, 5.00%, 10/01/25 |
135 | 141,471 | ||||||
|
Series D, 5.00%, 08/01/25 |
530 | 554,041 | ||||||
|
Series E, 5.00%, 10/01/25 |
100 | 104,793 | ||||||
|
University of Minnesota RB |
||||||||
|
Series B, 5.00%, 10/01/25 |
150 | 157,020 | ||||||
|
Series B, 5.00%, 12/01/25 |
1,015 | 1,065,000 | ||||||
|
|
|
|||||||
| 5,131,000 | ||||||||
| Mississippi — 0.4% | ||||||||
|
State of Mississippi GO |
||||||||
|
Series B, 5.00%, 12/01/25 |
240 | 251,966 | ||||||
|
Series C, 5.00%, 10/01/25 |
505 | 528,920 | ||||||
|
Series F, 5.00%, 11/01/32 (PR 11/01/25) |
300 | 314,768 | ||||||
|
|
|
|||||||
| 1,095,654 | ||||||||
| Missouri — 0.3% | ||||||||
|
Metropolitan St Louis Sewer District RB, Series B, 5.00%, 05/01/25 |
85 | 88,510 | ||||||
|
Missouri Highway & Transportation Commission RB, 5.00%, 05/01/25 |
340 | 353,959 | ||||||
|
Missouri State Board of Public Buildings RB, Series A, 5.00%, 04/01/25 |
375 | 389,196 | ||||||
|
|
|
|||||||
| 831,665 | ||||||||
| Nebraska — 0.4% | ||||||||
|
Nebraska Public Power District RB |
||||||||
|
Series A, 5.00%, 01/01/25 |
260 | 268,547 | ||||||
|
Series C, 5.00%, 01/01/25 |
260 | 268,547 | ||||||
|
Omaha Public Facilities Corp. RB, Series A, 5.00%, 06/01/25 |
50 | 52,065 | ||||||
|
Omaha
Public Power District Nebraska City Station |
85 | 87,932 | ||||||
|
Omaha Public Power District RB, Series A, 5.00%, 02/01/25 |
385 | 399,381 | ||||||
|
|
|
|||||||
| 1,076,472 | ||||||||
| Nevada — 1.7% | ||||||||
|
Clark County School District GOL, Series A, 5.00%, 06/15/25 |
870 | 902,880 | ||||||
|
Clark County Water Reclamation District GOL, 5.00%, 07/01/25 |
585 | 610,485 | ||||||
|
County of Clark Department of Aviation RB, 5.00%, 07/01/25 |
650 | 674,947 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 11/01/25 |
325 | 340,335 | ||||||
|
Series A, 5.00%, 06/01/25 |
215 | 223,825 | ||||||
|
Series A, 5.00%, 11/01/25 |
215 | 225,145 | ||||||
|
Series B, 5.00%, 06/01/25 |
50 | 52,052 | ||||||
|
Series B, 5.00%, 12/01/25 |
270 | 283,058 | ||||||
|
County of Clark NV RB |
||||||||
|
5.00%, 07/01/25 |
475 | 494,460 | ||||||
|
Series B, 5.00%, 07/01/25 |
115 | 119,711 | ||||||
|
Las Vegas Valley Water District GOL, 5.00%, 06/01/25 |
185 | 192,641 | ||||||
|
State of Nevada GOL |
||||||||
|
5.00%, 05/01/25 |
145 | 150,953 | ||||||
|
Series A, 5.00%, 05/01/25 |
130 | 135,337 | ||||||
|
State of Nevada Highway Improvement Revenue RB, 5.00%, 12/01/25 |
765 | 803,143 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
65 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Nevada (continued) | ||||||||
|
Washoe County School District/NV GOL |
||||||||
|
Series A, 5.00%, 06/01/25 |
$ | 140 | $ | 145,571 | ||||
|
Series C, 5.00%, 10/01/25 |
55 | 57,449 | ||||||
|
|
|
|||||||
| 5,411,992 | ||||||||
| New Hampshire — 0.4% | ||||||||
|
City of Manchester NH GO, 4.00%, 06/15/25 |
310 | 314,581 | ||||||
|
City of Nashua NH GO, 5.00%, 09/01/25 |
140 | 146,724 | ||||||
|
New Hampshire Municipal Bond Bank RB |
||||||||
|
5.00%, 08/15/25 |
265 | 277,035 | ||||||
|
5.00%, 08/15/25 (ST INTERCEPT) |
70 | 73,179 | ||||||
|
Series A, 5.00%, 08/15/25 |
175 | 183,043 | ||||||
|
New Hampshire State Turnpike System RB, 4.00%, 11/01/25 |
160 | 163,102 | ||||||
|
State of New Hampshire GO |
||||||||
|
5.00%, 12/01/25 |
40 | 41,994 | ||||||
|
Series B, 5.00%, 12/01/25 |
175 | 183,725 | ||||||
|
|
|
|||||||
| 1,383,383 | ||||||||
| New Jersey — 2.5% | ||||||||
|
County of Essex NJ GO, 5.00%, 08/01/25 |
150 | 156,724 | ||||||
|
County of Monmouth NJ GO, 5.00%, 07/15/25 |
170 | 178,090 | ||||||
|
Monmouth County Improvement Authority (The) RB |
||||||||
|
5.00%, 02/15/25 (GTD) |
100 | 103,886 | ||||||
|
5.00%, 12/01/25 (GTD) |
270 | 283,867 | ||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/25 |
170 | 175,035 | ||||||
|
New Jersey Economic Development Authority RB |
||||||||
|
5.00%, 06/15/25 |
305 | 312,986 | ||||||
|
Series A, 4.13%, 06/15/25 |
170 | 170,784 | ||||||
|
Series B, 4.00%, 11/01/25 (SAP) |
860 | 861,382 | ||||||
|
Series D, 5.00%, 06/15/25 |
30 | 30,785 | ||||||
|
Series WW, 5.25%, 06/15/31 (PR 06/15/25) (SAP) |
1,000 | 1,050,675 | ||||||
|
New Jersey Educational Facilities Authority RB |
||||||||
|
Series B, 5.00%, 07/01/25 |
300 | 313,694 | ||||||
|
Series D, 5.00%, 07/01/25 |
460 | 480,997 | ||||||
|
New Jersey Infrastructure Bank RB, Series A-1, 5.00%, 09/01/25 (GTD) |
110 | 115,161 | ||||||
|
New Jersey Transportation Trust Fund Authority RB |
||||||||
|
5.00%, 06/15/25 |
105 | 107,986 | ||||||
|
Series A, 5.00%, 06/15/25 |
25 | 25,655 | ||||||
|
Series A, 5.75%, 06/15/25 (NPFGC) |
220 | 230,834 | ||||||
|
New Jersey Turnpike Authority RB |
||||||||
|
Series B, 5.00%, 01/01/25 |
115 | 118,805 | ||||||
|
Series C-2, 5.50%, 01/01/25 (AMBAC) |
590 | 615,998 | ||||||
|
State of New Jersey GO |
||||||||
|
5.00%, 06/01/25 |
1,015 | 1,053,350 | ||||||
|
5.00%, 06/01/32 (PR 06/01/25) |
500 | 520,776 | ||||||
|
Series A, 5.00%, 06/01/25 |
915 | 949,572 | ||||||
|
|
|
|||||||
| 7,857,042 | ||||||||
| New Mexico — 0.5% | ||||||||
|
New Mexico Finance Authority RB |
||||||||
|
5.00%, 06/01/25 |
200 | 208,210 | ||||||
|
Series A, 5.00%, 06/15/25 |
210 | 218,739 | ||||||
|
Santa Fe Public School District GO, 5.00%, 08/01/25 (SAW) |
85 | 88,583 | ||||||
|
State of New Mexico GO, 5.00%, 03/01/25 |
275 | 285,569 | ||||||
|
State of New Mexico Severance Tax Permanent Fund RB |
||||||||
|
5.00%, 07/01/25 |
700 | 730,494 | ||||||
|
Series D, 5.00%, 07/01/25 |
50 | 52,178 | ||||||
|
|
|
|||||||
| 1,583,773 | ||||||||
| Security |
Par |
Value | ||||||
| New York — 7.5% | ||||||||
|
City of New York NY GO |
||||||||
|
5.00%, 08/01/25 |
$ | 510 | $ | 532,178 | ||||
|
Series 1, 5.00%, 08/01/25 |
470 | 490,439 | ||||||
|
Series A, 5.00%, 08/01/25 |
1,510 | 1,575,665 | ||||||
|
Series A-1, 5.00%, 08/01/25 |
150 | 156,523 | ||||||
|
Series C, 4.00%, 08/01/25 |
235 | 239,228 | ||||||
|
Series C, 5.00%, 08/01/25 |
2,460 | 2,566,977 | ||||||
|
Series C-1, 5.00%, 08/01/25 |
500 | 521,743 | ||||||
|
Series E, 5.00%, 08/01/25 |
225 | 234,784 | ||||||
|
Series F-1, 5.00%, 06/01/25 |
115 | 119,721 | ||||||
|
County of Monroe NY GOL, 5.00%, 06/01/25 (AGM) |
25 | 26,058 | ||||||
|
Erie County Industrial Development Agency (The) RB, 5.00%, 05/01/25 (SAW) |
260 | 270,611 | ||||||
|
Hudson Yards Infrastructure Corp. RB, 4.00%, 02/15/25 |
100 | 101,435 | ||||||
|
Long Island Power Authority RB |
||||||||
|
0.00%, 06/01/25 (AGM)(a) |
200 | 182,288 | ||||||
|
5.00%, 09/01/25 |
140 | 146,260 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 11/15/25 |
70 | 73,201 | ||||||
|
Series A, 5.00%, 11/15/25 |
105 | 109,801 | ||||||
|
Series A2, 5.00%, 11/15/25 |
150 | 153,654 | ||||||
|
Series B, 5.00%, 11/15/25 |
650 | 665,835 | ||||||
|
Series B2, 5.00%, 11/15/25 |
265 | 277,117 | ||||||
|
Series C-1, 5.00%, 11/15/25 |
65 | 66,584 | ||||||
|
Series F, 5.00%, 11/15/25 |
230 | 235,604 | ||||||
|
New York City Municipal Water Finance Authority RB, 5.00%, 06/15/25 |
395 | 412,245 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
4.00%, 07/15/25 |
175 | 177,783 | ||||||
|
5.00%, 07/15/25 (SAW) |
35 | 36,444 | ||||||
|
5.00%, 07/15/25 (ETM) (SAW) |
185 | 192,781 | ||||||
|
Series S-3, 5.00%, 07/15/25 (SAW) |
650 | 676,816 | ||||||
|
Series S-4A, 5.00%, 07/15/25 (SAW) |
140 | 145,776 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue, 5.00%, 11/01/25 |
40 | 41,864 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
4.00%, 05/01/25 |
100 | 101,558 | ||||||
|
5.00%, 02/01/25 |
95 | 98,381 | ||||||
|
5.00%, 05/01/25 |
100 | 103,935 | ||||||
|
5.00%, 08/01/25 |
455 | 474,543 | ||||||
|
5.00%, 11/01/25 |
230 | 240,719 | ||||||
|
Series A-1, 5.00%, 08/01/25 |
10 | 10,430 | ||||||
|
Series B-1, 5.00%, 08/01/25 |
250 | 260,738 | ||||||
|
Series C, 5.00%, 11/01/25 |
1,120 | 1,172,198 | ||||||
|
New York City Water & Sewer System RB |
||||||||
|
4.00%, 06/15/25 |
540 | 550,124 | ||||||
|
5.00%, 06/15/25 |
205 | 213,950 | ||||||
|
Series FF, 4.00%, 06/15/25 |
50 | 50,937 | ||||||
|
Series GG, 5.00%, 06/15/25 |
300 | 313,098 | ||||||
|
New York State Dormitory Authority RB |
||||||||
|
4.00%, 02/15/25 |
125 | 127,044 | ||||||
|
5.00%, 03/15/25 |
250 | 259,881 | ||||||
|
5.00%, 10/01/25 |
155 | 163,047 | ||||||
|
5.00%, 07/01/37 (PR 07/01/25) |
15 | 15,642 | ||||||
|
Series 1, 5.00%, 03/15/25 |
305 | 317,054 | ||||||
|
Series A, 5.00%, 02/15/25 |
365 | 378,803 | ||||||
|
Series A, 5.00%, 03/15/25 |
855 | 888,791 | ||||||
|
Series A, 5.00%, 07/01/25 |
300 | 312,022 | ||||||
| 66 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| New York (continued) | ||||||||
|
Series B, 5.00%, 02/15/25 |
$ | 365 | $ | 378,944 | ||||
|
Series B, 5.50%, 03/15/25 (AMBAC) |
160 | 167,683 | ||||||
|
Series D, 5.00%, 02/15/25 |
650 | 674,197 | ||||||
|
Series E, 5.00%, 02/15/25 |
60 | 62,292 | ||||||
|
Series E, 5.00%, 03/15/25 |
540 | 560,919 | ||||||
|
New York State Environmental Facilities Corp., 5.00%, 06/15/25 |
135 | 140,929 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 10/15/25 |
70 | 73,438 | ||||||
|
Series A, 4.00%, 06/15/25 |
100 | 101,900 | ||||||
|
Series B, 5.00%, 06/15/25 |
300 | 313,174 | ||||||
|
Series D, 5.00%, 03/15/25 |
215 | 223,594 | ||||||
|
New York State Thruway Authority RB |
||||||||
|
5.00%, 01/01/25 |
220 | 227,418 | ||||||
|
Series A-1, 5.00%, 03/15/25 |
200 | 207,253 | ||||||
|
Series L, 5.00%, 01/01/25 |
160 | 165,395 | ||||||
|
New York State Urban Development Corp. |
||||||||
|
5.00%, 03/15/25 |
455 | 471,817 | ||||||
|
5.00%, 03/15/25 (ETM) |
5 | 5,192 | ||||||
|
New York State Urban Development Corp. RB |
||||||||
|
5.00%, 03/15/25 |
335 | 347,381 | ||||||
|
Series A, 5.00%, 03/15/25 |
955 | 990,296 | ||||||
|
Series C, 5.00%, 03/15/25 |
105 | 108,881 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
4.00%, 12/01/25 |
145 | 147,546 | ||||||
|
Series 189, 5.00%, 05/01/25 |
120 | 124,634 | ||||||
|
Series 205, 5.00%, 11/15/25 |
480 | 502,206 | ||||||
|
State of New York GO, Series-A, 5.00%, 03/15/25 |
50 | 52,022 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series A, 5.00%, 11/15/25 |
170 | 178,316 | ||||||
|
Series B, 5.00%, 11/15/25 |
510 | 534,947 | ||||||
|
Series C-1, 5.00%, 11/15/25 |
260 | 272,641 | ||||||
|
|
|
|||||||
| 23,515,325 | ||||||||
| North Carolina — 2.0% | ||||||||
|
City of Charlotte NC COP |
||||||||
|
5.00%, 12/01/25 |
50 | 52,433 | ||||||
|
Series B, 5.00%, 06/01/25 |
50 | 52,065 | ||||||
|
City of Charlotte NC GO, Series A, 5.00%, 07/01/25 |
85 | 88,813 | ||||||
|
City of Charlotte NC Water & Sewer System RB, 5.00%, 07/01/25 |
180 | 188,076 | ||||||
|
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/25 |
405 | 423,170 | ||||||
|
City of Raleigh NC GO, Series A, 5.00%, 09/01/25 |
245 | 256,698 | ||||||
|
City of Winston-Salem NC Water & Sewer System Revenue RB, 5.00%, 06/01/25 |
100 | 104,357 | ||||||
|
County of Buncombe NC, 5.00%, 06/01/25 |
205 | 213,673 | ||||||
|
County of Durham NC GO, 5.00%, 10/01/25 |
275 | 288,494 | ||||||
|
County of Forsyth NC GO |
||||||||
|
5.00%, 03/01/25 |
185 | 192,364 | ||||||
|
5.00%, 07/01/25 |
70 | 73,159 | ||||||
|
5.00%, 12/01/25 |
200 | 210,332 | ||||||
|
County of Guilford NC GO, 5.00%, 03/01/25 |
350 | 363,852 | ||||||
|
County of Iredell NC RB, 5.00%, 12/01/25 |
25 | 26,239 | ||||||
|
County of Johnston NC GO, 4.00%, 02/01/25 |
145 | 147,269 | ||||||
|
County of Mecklenburg NC GO, 5.00%, 03/01/25 |
110 | 114,353 | ||||||
|
County of New Hanover NC GO, 5.00%, 08/01/25 |
100 | 104,643 | ||||||
|
County of Wake NC, 5.00%, 03/01/25 |
500 | 519,788 | ||||||
|
County of Wake NC GO |
||||||||
|
Series A, 5.00%, 03/01/25 |
175 | 181,926 | ||||||
|
Series C, 5.00%, 03/01/25 |
370 | 384,643 | ||||||
| Security |
Par |
Value | ||||||
| North Carolina (continued) | ||||||||
|
County of Wake NC RB, 5.00%, 08/01/25 |
$ | 150 | $ | 156,724 | ||||
|
North
Carolina Municipal Power Agency No. 1 RB, |
500 | 515,381 | ||||||
|
State of North Carolina GO |
||||||||
|
5.00%, 06/01/25 |
160 | 167,011 | ||||||
|
Series A, 5.00%, 06/01/25 |
200 | 208,764 | ||||||
|
Series B, 5.00%, 06/01/25 |
755 | 788,084 | ||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/25 |
165 | 170,966 | ||||||
|
5.00%, 05/01/25 |
170 | 176,896 | ||||||
|
Series B, 5.00%, 05/01/25 |
150 | 156,085 | ||||||
|
|
|
|||||||
| 6,326,258 | ||||||||
| Ohio — 2.7% | ||||||||
|
American Municipal Power Inc. RB, Series-A, 5.00%, 02/15/25 |
135 | 139,642 | ||||||
|
City of Cincinnati OH GO, Series A, 4.00%, 12/01/25 |
150 | 153,083 | ||||||
|
City of Cleveland OH GO, 5.00%, 12/01/25 |
110 | 115,156 | ||||||
|
City of Columbus OH GO |
||||||||
|
Series 1, 5.00%, 07/01/25 |
575 | 600,049 | ||||||
|
Series A, 4.00%, 04/01/25 |
195 | 198,260 | ||||||
|
Series A, 5.00%, 04/01/25 |
175 | 181,955 | ||||||
|
City of Columbus OH GOL, Series B, 4.00%, 07/01/25 |
35 | 35,639 | ||||||
|
City of Columbus OH RB, Series A, 5.00%, 07/01/25 |
140 | 146,099 | ||||||
|
Cleveland Department of Public Utilities Division of Water RB, 5.00%, 01/01/25 |
780 | 807,126 | ||||||
|
County of Franklin OH Sales Tax Revenue RB, 5.00%, 06/01/25 |
155 | 161,558 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/25 |
120 | 125,481 | ||||||
|
Ohio State University (The) RB, 5.00%, 12/01/25 |
505 | 530,028 | ||||||
|
Ohio Turnpike & Infrastructure Commission, 5.00%, 02/15/25 |
105 | 108,822 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
Series A, 5.00%, 06/01/25 |
125 | 130,288 | ||||||
|
Series A, 5.00%, 12/01/25 |
230 | 241,468 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
|
5.00%, 06/01/25 |
400 | 416,923 | ||||||
|
5.00%, 12/01/25 |
195 | 204,723 | ||||||
|
Series 2015-A, 5.00%, 12/01/25 |
450 | 472,302 | ||||||
|
Series B, 5.00%, 12/01/25 |
55 | 57,742 | ||||||
|
State of Ohio, 5.00%, 11/01/25 |
100 | 104,894 | ||||||
|
State of Ohio GO |
||||||||
|
4.00%, 05/01/25 |
150 | 152,625 | ||||||
|
5.00%, 08/01/25 |
485 | 506,740 | ||||||
|
5.00%, 08/01/25 (ETM) |
5 | 5,213 | ||||||
|
5.00%, 09/01/25 |
165 | 172,605 | ||||||
|
Series A, 5.00%, 06/15/25 |
250 | 260,723 | ||||||
|
Series A, 5.00%, 09/01/25 |
240 | 251,062 | ||||||
|
Series A, 5.00%, 09/15/25 |
135 | 141,302 | ||||||
|
Series A, 5.00%, 05/01/37 (PR 05/01/25) |
295 | 307,255 | ||||||
|
Series B, 5.00%, 09/01/25 |
225 | 235,371 | ||||||
|
Series B, 5.00%, 09/15/25 |
195 | 204,103 | ||||||
|
Series S, 5.00%, 05/01/25 |
65 | 67,684 | ||||||
|
Series V, 5.00%, 05/01/25 |
130 | 135,369 | ||||||
|
State of Ohio RB |
||||||||
|
5.00%, 04/01/25 |
290 | 301,047 | ||||||
|
Series A, 5.00%, 02/01/25 |
50 | 51,780 | ||||||
|
Series C, 5.00%, 12/01/25 |
145 | 151,926 | ||||||
|
Series-A, 5.00%, 06/01/25 |
430 | 447,434 | ||||||
|
|
|
|||||||
| 8,323,477 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
67 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Oklahoma — 0.5% | ||||||||
|
City of Oklahoma City OK GO, 5.00%, 03/01/25 |
$ | 95 | $ | 98,543 | ||||
|
Grand River Dam Authority RB |
||||||||
|
Series A, 4.00%, 06/01/25 |
125 | 126,359 | ||||||
|
Series A, 5.00%, 06/01/25 |
385 | 399,451 | ||||||
|
Oklahoma Capitol Improvement Authority RB, Series A, 4.00%, 07/01/25 |
110 | 111,648 | ||||||
|
Oklahoma City Water Utilities Trust RB, 5.00%, 07/01/25 |
385 | 401,972 | ||||||
|
Oklahoma Turnpike Authority RB, Series E, 5.00%, 01/01/25 |
210 | 216,770 | ||||||
|
Oklahoma Water Resources Board RB, 5.00%, 04/01/25 |
300 | 311,781 | ||||||
|
|
|
|||||||
| 1,666,524 | ||||||||
| Oregon — 1.4% | ||||||||
|
City of Eugene OR Electric Utility System Revenue RB, Series A, 5.00%, 08/01/25 |
15 | 15,632 | ||||||
|
City of Portland OR GOL, 5.00%, 06/15/25 |
50 | 52,170 | ||||||
|
City
of Portland OR Sewer System Revenue RB, |
220 | 229,155 | ||||||
|
City of Portland Sewer System Revenue, 5.00%, 06/01/25 |
140 | 145,747 | ||||||
|
Clackamas & Washington Counties School District No. 3 GO, 5.00%, 06/15/29 (PR 06/15/25) (GTD) |
300 | 313,026 | ||||||
|
Multnomah County School District No. 1 Portland/OR GO |
||||||||
|
5.00%, 06/15/25 (GTD) |
100 | 104,161 | ||||||
|
Series B, 5.00%, 06/15/25 (GTD) |
225 | 234,363 | ||||||
|
Multnomah County School District No. 7 Reynolds, 0.00%, 06/15/36 (PR 06/15/25) (GTD)(a) |
650 | 364,978 | ||||||
|
Portland Community College District GO, 5.00%, 06/15/25 |
310 | 322,900 | ||||||
|
Salem-Keizer School District No. 24J GO, Series-B, 5.00%, 06/15/25 (GTD) |
275 | 286,444 | ||||||
|
State of Oregon Department of Transportation RB |
||||||||
|
Series A, 5.00%, 11/15/25 |
300 | 314,763 | ||||||
|
Series C, 5.00%, 11/15/25 |
100 | 104,921 | ||||||
|
State of Oregon GO |
||||||||
|
5.00%, 05/01/25 |
930 | 968,181 | ||||||
|
5.00%, 08/01/35 (PR 08/01/25) |
500 | 522,681 | ||||||
|
Series H, 5.00%, 08/01/25 |
195 | 203,741 | ||||||
|
Series L, 5.00%, 08/01/25 |
185 | 193,293 | ||||||
|
|
|
|||||||
| 4,376,156 | ||||||||
| Pennsylvania — 2.2% | ||||||||
|
City of Philadelphia PA GO, Series A, 5.00%, 08/01/25 |
255 | 264,593 | ||||||
|
City of Philadelphia PA Water & Wastewater Revenue RB |
||||||||
|
5.00%, 10/01/25 |
600 | 623,675 | ||||||
|
Series B, 5.00%, 11/01/25 |
125 | 130,065 | ||||||
|
Commonwealth of Pennsylvania, 5.00%, 10/01/25 |
500 | 523,116 | ||||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
5.00%, 07/15/25 |
70 | 73,017 | ||||||
|
5.00%, 09/15/25 (AGM) |
20 | 20,962 | ||||||
|
First Series, 5.00%, 01/01/25 |
320 | 331,196 | ||||||
|
First Series, 5.00%, 02/01/25 (AGM) |
370 | 384,147 | ||||||
|
First Series, 5.00%, 08/15/25 |
735 | 767,582 | ||||||
|
First Series, 5.00%, 09/15/25 |
720 | 752,808 | ||||||
|
Second Series, 5.00%, 09/15/25 |
640 | 669,163 | ||||||
|
Series D, 5.00%, 08/15/25 |
140 | 146,206 | ||||||
|
County of Bucks PA GO, 5.00%, 06/01/25 |
140 | 146,099 | ||||||
|
Delaware County Authority RB, 5.00%, 12/01/25 |
60 | 62,526 | ||||||
|
Delaware River Joint Toll Bridge Commission RB, 5.00%, 07/01/25 |
105 | 109,220 | ||||||
|
Delaware River Port Authority RB, Series B, 5.00%, 01/01/25 |
220 | 226,305 | ||||||
|
Pennsylvania State University (The) RB, 5.25%, 08/15/25 |
250 | 262,800 | ||||||
|
Pennsylvania Turnpike Commission, 5.00%, 12/01/25 |
100 | 104,538 | ||||||
| Security |
Par |
Value | ||||||
| Pennsylvania (continued) | ||||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
Series A, 5.00%, 12/01/25 |
$ | 410 | $ | 428,605 | ||||
|
Series A2, 5.00%, 12/01/25 |
480 | 501,782 | ||||||
|
Series B, 5.00%, 06/01/25 |
170 | 175,320 | ||||||
|
Philadelphia Authority for Industrial Development RB, 5.00%, 07/01/25 |
100 | 103,890 | ||||||
|
Township of Lower Merion PA GO, 5.00%, 01/15/25 |
50 | 51,844 | ||||||
|
|
|
|||||||
| 6,859,459 | ||||||||
| Rhode Island — 0.6% | ||||||||
|
Narragansett
Bay Commission, 5.00%, 02/01/30 |
400 | 415,029 | ||||||
|
Rhode Island Commerce Corp., 5.00%, 06/15/25 |
190 | 196,747 | ||||||
|
Rhode
Island Commerce Corp. RB, |
445 | 460,689 | ||||||
|
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB |
||||||||
|
5.00%, 10/01/25 |
130 | 136,268 | ||||||
|
Series B, 5.00%, 10/01/25 |
135 | 141,509 | ||||||
|
State of Rhode Island GO |
||||||||
|
5.00%, 01/15/25 |
380 | 392,865 | ||||||
|
Series A, 5.00%, 08/01/25 |
95 | 98,953 | ||||||
|
|
|
|||||||
| 1,842,060 | ||||||||
| South Carolina — 0.4% | ||||||||
|
City of Columbia SC Waterworks & Sewer System Revenue RB, Series B, 5.00%, 02/01/25 |
265 | 274,840 | ||||||
|
County of Charleston SC GO, 5.00%, 11/01/25 (SAW) |
400 | 420,139 | ||||||
|
Fort Mill School District No. 4 GO, Series A, 5.00%, 03/01/25, (SCSDE) |
100 | 103,844 | ||||||
|
South Carolina Transportation Infrastructure Bank RB, Series-B, 5.00%, 10/01/25 |
180 | 187,609 | ||||||
|
State of South Carolina GO, 5.00%, 04/01/25 |
125 | 130,145 | ||||||
|
|
|
|||||||
| 1,116,577 | ||||||||
| Tennessee — 3.1% | ||||||||
|
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/25 |
85 | 89,213 | ||||||
|
City of Memphis TN GO, Series A, 5.00%, 12/01/25 |
210 | 220,408 | ||||||
|
City of Memphis TN Sanitary Sewerage System Revenue RB, 5.00%, 10/01/25 |
470 | 492,262 | ||||||
|
County of Blount TN GO, 5.00%, 06/01/25 |
535 | 557,499 | ||||||
|
County of Hamilton TN GO |
||||||||
|
4.00%, 03/01/25 |
335 | 340,646 | ||||||
|
Series A, 5.00%, 04/01/25 |
150 | 156,174 | ||||||
|
County of Montgomery TN GO, 5.00%, 04/01/25 |
350 | 363,497 | ||||||
|
County of Shelby TN GO |
||||||||
|
5.00%, 04/01/25 |
250 | 259,994 | ||||||
|
Series A, 5.00%, 04/01/25 |
345 | 358,711 | ||||||
|
County of Sumner TN GO, 5.00%, 12/01/25 |
150 | 157,254 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB |
||||||||
|
5.00%, 05/15/25 |
80 | 83,311 | ||||||
|
Series A, 5.00%, 05/15/25 |
145 | 151,002 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
5.00%, 01/01/25 |
640 | 662,935 | ||||||
|
5.00%, 07/01/25 |
945 | 986,167 | ||||||
|
Series A, 5.00%, 07/01/25 |
270 | 281,762 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB |
||||||||
|
5.00%, 07/01/25 |
45 | 46,949 | ||||||
|
Series B, 5.00%, 07/01/25 |
105 | 109,547 | ||||||
| 68 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Tennessee (continued) | ||||||||
|
State of Tennessee GO |
||||||||
|
5.00%, 02/01/25 |
$ | 580 | $ | 602,304 | ||||
|
5.00%, 09/01/25 |
125 | 130,969 | ||||||
|
5.00%, 08/01/29 (PR 08/01/25) |
2,000 | 2,090,722 | ||||||
|
Series A, 5.00%, 08/01/25 |
405 | 423,806 | ||||||
|
Tennessee State School Bond Authority, 5.00%, 11/01/25 (ST INTERCEPT) |
270 | 283,291 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
5.00%, 11/01/25 (ST HGR ED INTERCEPT PROG) |
135 | 141,724 | ||||||
|
Series A, 5.00%, 11/01/25 (NPFGC) |
280 | 293,947 | ||||||
|
Series B, 5.00%, 11/01/25 |
285 | 299,196 | ||||||
|
|
|
|||||||
| 9,583,290 | ||||||||
| Texas — 11.6% | ||||||||
|
Alamo Regional Mobility Authority RB, 5.00%, 06/15/25 |
180 | 187,169 | ||||||
|
Aldine Independent School District GOL, 5.00%, 02/15/25 |
200 | 207,145 | ||||||
|
Alvin Independent School District/TX GO, 5.00%, 02/15/25 (PSF) |
230 | 238,525 | ||||||
|
Arlington Independent School District/TX GO |
||||||||
|
5.00%, 02/15/25 (PSF) |
70 | 72,642 | ||||||
|
Series B, 5.00%, 02/15/25 (PSF) |
100 | 103,774 | ||||||
|
Austin Community College District, 5.00%, 08/01/25 |
295 | 307,750 | ||||||
|
Austin Community College District GOL, 5.00%, 08/01/25 |
100 | 104,322 | ||||||
|
Austin Independent School District GO |
||||||||
|
5.00%, 08/01/25 (PSF) |
635 | 663,464 | ||||||
|
Series B, 5.00%, 08/01/25 (PSF) |
195 | 203,741 | ||||||
|
Birdville Independent School District GO, Series B, 5.00%, 02/15/25 (PSF) |
170 | 176,301 | ||||||
|
Board of Regents of the University of Texas System RB |
||||||||
|
Series C, 5.00%, 08/15/25 |
205 | 214,366 | ||||||
|
Series J, 5.00%, 08/15/25 |
245 | 256,193 | ||||||
|
Central Texas Regional Mobility Authority RB, 5.00%, 01/01/25 |
135 | 138,529 | ||||||
|
City of Arlington TX GOL, 5.00%, 08/15/25 |
130 | 135,904 | ||||||
|
City of Austin TX GOL, 5.00%, 09/01/25 |
240 | 250,864 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/25 |
240 | 251,033 | ||||||
|
City of Austin/TX GOL, 5.00%, 09/01/25 |
240 | 250,864 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/25 |
300 | 314,039 | ||||||
|
Series A, 5.00%, 10/01/25 |
100 | 104,680 | ||||||
|
City of Frisco TX GOL, 5.00%, 02/15/25 |
265 | 274,823 | ||||||
|
City of Houston TX Airport System Revenue RB, Series D, 5.00%, 07/01/25 |
65 | 67,478 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
5.00%, 11/15/25 |
100 | 104,744 | ||||||
|
Series A, 0.00%, 12/01/25 (AGM)(a) |
20 | 17,792 | ||||||
|
Series B, 5.00%, 11/15/25 |
300 | 314,232 | ||||||
|
Series D, 5.00%, 11/15/25 |
230 | 240,167 | ||||||
|
City of McKinney TX Waterworks & Sewer System Revenue RB, 5.00%, 03/15/25 |
15 | 15,551 | ||||||
|
City of Plano TX GOL |
||||||||
|
5.00%, 09/01/25 |
170 | 177,789 | ||||||
|
Series A, 5.00%, 09/01/25 |
95 | 99,353 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
|
5.00%, 02/01/25 |
555 | 575,975 | ||||||
|
Series ETM, 5.00%, 02/01/25 (ETM) |
50 | 51,879 | ||||||
|
City of San Antonio TX GOL, 5.00%, 08/01/25 |
600 | 627,699 | ||||||
|
Clear Creek Independent School District GO, 5.00%, 02/15/25 (PSF) |
165 | 171,153 | ||||||
|
County of Bexar TX GOL, 5.00%, 06/15/25 |
70 | 72,913 | ||||||
|
County of Bexar TX RB, 5.00%, 06/15/25 |
300 | 312,484 | ||||||
| Security |
Par |
Value | ||||||
| Texas (continued) | ||||||||
|
County of Denton TX GOL, 5.00%, 05/15/25 |
$ | 185 | $ | 192,703 | ||||
|
County of Fort Bend TX GO, Series A, 5.00%, 03/01/25 |
110 | 114,027 | ||||||
|
County of Harris TX GOL |
||||||||
|
5.00%, 10/01/25 |
145 | 151,662 | ||||||
|
Series B, 5.00%, 10/01/25 |
405 | 423,609 | ||||||
|
County of Harris TX RB |
||||||||
|
5.00%, 08/15/25 |
405 | 423,503 | ||||||
|
Series A, 5.00%, 08/15/25 |
370 | 386,904 | ||||||
|
County of Montgomery TX GO, Series A, 5.00%, 03/01/25 |
120 | 124,448 | ||||||
|
Cypress-Fairbanks Independent School District GO, 5.00%, 02/15/25 (PSF) |
965 | 1,000,985 | ||||||
|
Dallas Area Rapid Transit RB, 5.00%, 12/01/25 |
915 | 959,253 | ||||||
|
Dallas Fort Worth International Airport, 5.00%, 11/01/25 |
250 | 260,636 | ||||||
|
Dallas Fort Worth International Airport RB, 5.00%, 11/01/25 |
230 | 238,723 | ||||||
|
Dallas Independent School District, 5.00%, 02/15/25 (PSF) |
500 | 517,751 | ||||||
|
Dallas Independent School District GO, Series A, 5.00%, 02/15/25 (PSF) |
395 | 409,023 | ||||||
|
Denton Independent School District GO, 5.00%, 08/15/25 (PSF) |
325 | 339,495 | ||||||
|
Fort Bend Independent School District GO, 5.00%, 02/15/25 (PSF) |
150 | 155,560 | ||||||
|
Fort Worth Independent School District GO, 5.00%, 02/15/25 (PSF) |
465 | 482,028 | ||||||
|
Frisco Independent School District GO, Series A, 5.00%, 08/15/25 (PSF) |
395 | 412,617 | ||||||
|
Grapevine-Colleyville Independent School District GO, 0.00%, 08/15/25 (PSF)(a) |
200 | 181,426 | ||||||
|
Irving Independent School District GO, 5.00%, 02/15/25 (PSF) |
740 | 767,595 | ||||||
|
Judson Independent School District GO, 5.00%, 02/01/25 (PSF) |
135 | 139,954 | ||||||
|
Katy Independent School District GO |
||||||||
|
Series A, 5.00%, 02/15/25 (PSF) |
105 | 108,657 | ||||||
|
Series D, 5.00%, 02/15/25 (PSF) |
35 | 36,219 | ||||||
|
Keller Independent School District/TX GO, Series A, 5.00%, 02/15/25 (PSF) |
105 | 108,962 | ||||||
|
Killeen Independent School District GO, 5.00%, 02/15/25 (PSF) |
65 | 67,438 | ||||||
|
Klein Independent School District GO, Series A, 5.00%, 08/01/25 (PSF) |
40 | 41,772 | ||||||
|
Leander Independent School District GO |
||||||||
|
0.00%, 08/15/25 (PSF)(a) |
330 | 298,372 | ||||||
|
Series A, 5.00%, 08/15/25 (PSF) |
125 | 130,847 | ||||||
|
Series B, 0.00%, 08/15/25(a) |
100 | 90,169 | ||||||
|
Lewisville Independent School District GO |
||||||||
|
5.00%, 08/15/25 (PSF) |
230 | 240,445 | ||||||
|
Series B, 5.00%, 08/15/25 |
130 | 135,833 | ||||||
|
Lone Star College System GOL |
||||||||
|
5.00%, 02/15/25 |
175 | 181,252 | ||||||
|
5.00%, 08/15/25 |
40 | 41,719 | ||||||
|
Series B, 5.00%, 02/15/25 |
390 | 403,933 | ||||||
|
Lower Colorado River Authority RB |
||||||||
|
5.00%, 05/15/25 |
210 | 217,397 | ||||||
|
Series D, 5.00%, 05/15/25 |
140 | 144,931 | ||||||
|
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Series B, 5.00%, 11/01/25 |
180 | 188,599 | ||||||
|
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB |
||||||||
|
5.00%, 11/01/25 |
220 | 230,509 | ||||||
|
Series-A, 5.00%, 11/01/25 |
120 | 125,732 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
69 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Texas (continued) | ||||||||
|
North East Independent School District/TX GO, 5.00%, 08/01/25 (PSF) |
$ | 305 | $ | 318,917 | ||||
|
North Texas Municipal Water District RB, 5.00%, 06/01/25 |
200 | 207,432 | ||||||
|
North Texas Municipal Water District Upper East Fork Wastewater Interceptor System, 5.00%, 06/01/25 |
25 | 26,070 | ||||||
|
North Texas Municipal Water District Water System Revenue RB, 5.00%, 09/01/25 |
670 | 701,251 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
6.50%, 01/01/43 (PR 01/01/25) |
2,000 | 2,126,929 | ||||||
|
Series A, 5.00%, 01/01/25 |
205 | 211,782 | ||||||
|
Northside Independent School District GO |
||||||||
|
5.00%, 06/15/25 (PSF) |
100 | 104,034 | ||||||
|
Series A, 5.00%, 08/15/25 (PSF) |
100 | 104,270 | ||||||
|
Northwest Independent School District, 5.00%, 02/15/28 (PR 02/15/25) |
45 | 46,669 | ||||||
|
Northwest Independent School District GO, Series B, 5.00%, 02/15/25 (PSF) |
50 | 51,820 | ||||||
|
Permanent University Fund - Texas A&M University System RB, Series A, 5.00%, 07/01/25 |
215 | 223,975 | ||||||
|
Permanent University Fund - University of Texas System RB |
||||||||
|
Series A, 5.00%, 07/01/25 |
230 | 240,020 | ||||||
|
Series B, 5.00%, 07/01/25 |
180 | 187,841 | ||||||
|
Plano Independent School District GO, 5.00%, 02/15/25 |
150 | 155,459 | ||||||
|
Rockwall Independent School District GO, 5.00%, 02/15/25 (PSF) |
110 | 114,028 | ||||||
|
Round Rock Independent School District GO |
||||||||
|
5.00%, 08/01/25 |
70 | 73,100 | ||||||
|
5.00%, 08/01/25 (PSF) |
60 | 62,673 | ||||||
|
5.00%, 08/01/35 (PR 08/01/25) (PSF) |
600 | 627,217 | ||||||
|
Series A, 5.00%, 08/01/25 (PSF) |
120 | 125,347 | ||||||
|
San Antonio Independent School District/TX GO |
||||||||
|
5.00%, 02/15/25 (PSF) |
290 | 300,879 | ||||||
|
5.00%, 08/15/25 (PSF) |
170 | 177,675 | ||||||
|
San Antonio Water System RB |
||||||||
|
Series A, 5.00%, 05/15/25 |
125 | 130,298 | ||||||
|
Series C, 5.00%, 05/15/25 |
70 | 72,967 | ||||||
|
Spring Independent School District GO, 5.00%, 08/15/25 (PSF) |
215 | 224,531 | ||||||
|
State of Texas GO |
||||||||
|
5.00%, 04/01/25 |
245 | 254,563 | ||||||
|
5.00%, 10/01/25 |
1,210 | 1,266,282 | ||||||
|
Series A, 5.00%, 04/01/25 |
155 | 161,050 | ||||||
|
Series A, 5.00%, 08/01/25 |
195 | 203,584 | ||||||
|
State of Texas GOL, Series A, 5.00%, 08/01/25 |
235 | 245,345 | ||||||
|
Tarrant Regional Water District Water Supply System Revenue RB, 5.00%, 03/01/25 |
145 | 150,507 | ||||||
|
Texas A&M University RB |
||||||||
|
5.00%, 05/15/25 |
1,110 | 1,154,297 | ||||||
|
Series C, 5.00%, 05/15/25 |
695 | 722,735 | ||||||
|
Texas State Technical College, 5.00%, 08/01/25 (AGM) |
300 | 311,303 | ||||||
|
Texas State Technical College RB, 4.00%, 10/15/25 |
100 | 101,947 | ||||||
|
Texas State University System RB, 5.00%, 03/15/25 |
425 | 441,200 | ||||||
|
Texas Tech University System, 5.00%, 02/15/25 |
210 | 217,549 | ||||||
|
Texas Transportation Commission State Highway Fund RB |
||||||||
|
5.25%, 04/01/25 |
285 | 297,427 | ||||||
|
First Series, 5.00%, 10/01/25 |
85 | 88,833 | ||||||
|
Series A, 5.00%, 10/01/25 |
1,415 | 1,478,815 | ||||||
|
Texas Water Development Board, 5.00%, 04/15/25 |
500 | 519,937 | ||||||
|
Texas Water Development Board RB |
||||||||
|
Series A, 5.00%, 04/15/25 |
125 | 129,984 | ||||||
| Security |
Par |
Value | ||||||
| Texas (continued) | ||||||||
|
Series A, 5.00%, 10/15/25 |
$ | 255 | $ | 267,084 | ||||
|
Series B, 5.00%, 04/15/25 |
185 | 192,377 | ||||||
|
Series B, 5.00%, 10/15/25 |
815 | 853,620 | ||||||
|
Trinity River Authority Central Regional Wastewater System Revenue, 5.00%, 08/01/25 |
280 | 292,476 | ||||||
|
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/25 |
950 | 992,329 | ||||||
|
Tyler Independent School District GO, 5.00%, 02/15/25 (PSF) |
240 | 248,413 | ||||||
|
University of North Texas System RB |
||||||||
|
5.00%, 04/15/25 |
175 | 181,142 | ||||||
|
Series A, 5.00%, 04/15/25 |
300 | 310,529 | ||||||
|
University of Texas System (The) RB |
||||||||
|
5.00%, 08/15/25 |
170 | 177,767 | ||||||
|
Series E, 5.00%, 08/15/25 |
120 | 125,482 | ||||||
|
Series H, 5.00%, 08/15/25 |
260 | 271,879 | ||||||
|
|
|
|||||||
| 36,053,665 | ||||||||
| Utah — 1.1% | ||||||||
|
Davis School District GO, Series B, 5.00%, 06/01/25 |
40 | 41,702 | ||||||
|
Ogden City School District GO, 5.00%, 06/15/25 (GTD) |
110 | 114,718 | ||||||
|
State of Utah GO |
||||||||
|
5.00%, 07/01/25 |
930 | 972,693 | ||||||
|
5.00%, 07/01/25 (PR 01/01/25) |
200 | 207,252 | ||||||
|
University of Utah (The) RB |
||||||||
|
4.00%, 08/01/25 |
250 | 254,362 | ||||||
|
Series A, 4.00%, 08/01/25 |
75 | 76,348 | ||||||
|
Series A, 5.00%, 08/01/25 |
160 | 167,129 | ||||||
|
Series B1, 5.00%, 08/01/25 (SAP) |
75 | 78,342 | ||||||
|
Utah State Building Ownership Authority RB, 5.00%, 05/15/25 |
520 | 541,652 | ||||||
|
Utah Transit Authority RB |
||||||||
|
5.00%, 06/15/25 |
330 | 343,312 | ||||||
|
5.00%, 06/15/35 (PR 06/15/25) |
295 | 307,809 | ||||||
|
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/25 |
195 | 202,273 | ||||||
|
|
|
|||||||
| 3,307,592 | ||||||||
| Vermont — 0.1% | ||||||||
|
University of Vermont & State Agricultural College RB, 5.00%, 10/01/25 |
40 | 41,781 | ||||||
|
Vermont Municipal Bond Bank RB, Series 5, 5.00%, 12/01/25 |
115 | 120,562 | ||||||
|
|
|
|||||||
| 162,343 | ||||||||
| Virginia — 4.7% | ||||||||
|
City of Alexandria VA GO, Series D, 5.00%, 07/01/25 (SAW) |
140 | 146,062 | ||||||
|
City of Charlottesville VA GO, 4.00%, 07/15/25 (SAW) |
125 | 127,247 | ||||||
|
City of Hampton VA GO, 5.00%, 09/01/25 (SAW) |
165 | 172,514 | ||||||
|
City of Norfolk VA GO, Series A, 5.00%, 10/01/25 |
145 | 151,950 | ||||||
|
City of Norfolk VA Water Revenue RB, Series B, 5.00%, 11/01/25 |
125 | 130,935 | ||||||
|
City of Richmond VA GO |
||||||||
|
5.00%, 03/01/25 (SAW) |
125 | 129,747 | ||||||
|
Series B, 5.00%, 07/15/25 (SAW) |
35 | 36,527 | ||||||
|
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/25 |
105 | 108,781 | ||||||
|
City of Virginia Beach VA Water & Sewer System Revenue RB, 5.00%, 10/01/25 |
100 | 104,651 | ||||||
|
Commonwealth of Virginia GO, Series B, 5.00%, 06/01/25 |
75 | 78,305 | ||||||
|
County of Arlington VA GO |
||||||||
|
5.00%, 08/15/25 |
150 | 156,853 | ||||||
|
Series A, 5.00%, 08/01/25 (SAW) |
50 | 52,255 | ||||||
|
Series B, 5.00%, 08/15/25 |
75 | 78,427 | ||||||
|
County of Chesterfield VA Water & Sewer Revenue RB, 5.00%, 11/01/25 |
200 | 210,021 | ||||||
| 70 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Virginia (continued) | ||||||||
|
County of Fairfax VA GO, Series A, 5.00%, 10/01/25 (SAW) |
$ | 245 | $ | 256,952 | ||||
|
County of Henrico VA GO |
||||||||
|
5.00%, 07/15/25 |
130 | 135,945 | ||||||
|
Series A, 5.00%, 08/01/25 (SAW) |
550 | 575,539 | ||||||
|
County of Loudoun VA GO, Series A, 5.00%, 12/01/25 (SAW) |
1,000 | 1,050,759 | ||||||
|
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/25 |
285 | 295,881 | ||||||
|
Hampton Roads Sanitation District RB, Series A, 4.00%, 08/01/25 |
105 | 106,971 | ||||||
|
Loudoun County Sanitation Authority RB, 5.00%, 01/01/25 |
35 | 36,254 | ||||||
|
Upper Occoquan Sewage Authority RB, 4.00%, 07/01/39 (PR 07/01/25) |
2,000 | 2,036,010 | ||||||
|
Virginia Beach Development Authority RB, 5.00%, 04/01/25 |
155 | 161,050 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 09/01/25 |
525 | 549,198 | ||||||
|
Series A, 5.00%, 02/01/25 |
150 | 155,405 | ||||||
|
Series A, 5.00%, 02/01/28 (PR 02/01/25) |
125 | 129,697 | ||||||
|
Series A, 5.00%, 02/01/30 (PR 02/01/25) |
300 | 311,272 | ||||||
|
Series B, 5.00%, 09/01/25 |
280 | 292,751 | ||||||
|
Series E, 5.00%, 02/01/25 |
595 | 616,440 | ||||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 03/15/25 |
930 | 965,233 | ||||||
|
5.00%, 05/15/25 |
30 | 31,212 | ||||||
|
5.00%, 09/15/25 |
130 | 135,887 | ||||||
|
Series A, 5.00%, 05/15/25 |
555 | 577,423 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
5.00%, 08/01/25 |
1,195 | 1,247,926 | ||||||
|
Series A, 5.00%, 08/01/25 |
175 | 182,751 | ||||||
|
Series B, 5.00%, 08/01/25 |
965 | 1,007,740 | ||||||
|
Virginia Public School Authority RB |
||||||||
|
5.00%, 03/01/25 (SAW) |
240 | 249,170 | ||||||
|
5.00%, 08/01/25 |
430 | 448,814 | ||||||
|
5.00%, 08/01/25 (SAW) |
50 | 52,228 | ||||||
|
Series A, 5.00%, 08/01/25 |
200 | 208,751 | ||||||
|
Series B, 5.00%, 08/01/25 |
255 | 266,157 | ||||||
|
Series C, 5.00%, 08/01/25 |
385 | 401,845 | ||||||
|
Virginia Resources Authority Clean Water Revolving Fund RB, |
||||||||
|
5.00%, 10/01/25 |
65 | 68,190 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
5.00%, 11/01/25 |
410 | 429,437 | ||||||
|
Series C, 5.00%, 11/01/25 |
30 | 31,512 | ||||||
|
Series D, 4.00%, 11/01/25 |
55 | 55,960 | ||||||
|
|
|
|||||||
| 14,754,635 | ||||||||
| Washington — 5.0% | ||||||||
|
Central Puget Sound Regional Transit Authority RB |
||||||||
|
5.00%, 11/01/25 |
150 | 157,297 | ||||||
|
Series S-1, 5.00%, 11/01/25 |
585 | 613,457 | ||||||
|
Central Puget Sound Regional Transit Authority Sales & Rental Car Taxes Revenue RB, SERIES S-1, 5.00%, 11/01/30 (PR 11/01/25) |
290 | 304,276 | ||||||
|
City of Seattle Municipal Light & Power Revenue, 5.00%, 07/01/25 |
500 | 521,132 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB |
||||||||
|
5.00%, 07/01/25 |
90 | 93,921 | ||||||
|
5.00%, 09/01/25 |
750 | 784,569 | ||||||
|
City of Seattle WA GOL |
||||||||
|
5.00%, 06/01/25 |
535 | 558,309 | ||||||
|
5.00%, 12/01/25 |
335 | 352,105 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
|
Series B, 5.00%, 02/01/25 |
185 | 191,666 | ||||||
| Security |
Par |
Value | ||||||
| Washington (continued) | ||||||||
|
Series B, 5.00%, 04/01/25 |
$ | 125 | $ | 129,820 | ||||
|
Series C, 5.00%, 09/01/25 |
240 | 250,731 | ||||||
|
Series-A, 5.00%, 07/01/25 |
135 | 140,706 | ||||||
|
City of Seattle WA Water System Revenue RB |
||||||||
|
5.00%, 05/01/25 |
320 | 333,215 | ||||||
|
5.00%, 08/01/25 |
225 | 235,146 | ||||||
|
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/25 |
110 | 113,825 | ||||||
|
City of Vancouver WA GOL, Series B, 5.00%, 12/01/25 |
190 | 199,473 | ||||||
|
Clark County Public Utility District No. 1 RB, 5.00%, 01/01/25 |
220 | 227,207 | ||||||
|
Clark County School District No. 114 Evergreen GO, 5.00%, 12/01/25 (SCH BD GTY) |
235 | 246,717 | ||||||
|
Clark County School District No. 122 Ridgefield GO, 5.00%, 12/01/25 |
55 | 57,759 | ||||||
|
County of King WA GOL |
||||||||
|
5.00%, 07/01/25 |
95 | 99,139 | ||||||
|
5.00%, 12/01/25 |
180 | 188,975 | ||||||
|
County of King WA Sewer Revenue, 5.00%, 01/01/25 |
200 | 207,167 | ||||||
|
County of King WA Sewer Revenue RB |
||||||||
|
5.00%, 07/01/34 (PR 01/01/25) |
400 | 414,674 | ||||||
|
Series-B, 5.00%, 07/01/25 |
165 | 172,188 | ||||||
|
County of Kitsap WA GOL, 5.00%, 06/01/25 |
140 | 145,923 | ||||||
|
County of Pierce WA GO, 5.00%, 08/01/25 |
150 | 156,523 | ||||||
|
County of Pierce WA GOL |
||||||||
|
5.00%, 08/01/25 |
100 | 104,349 | ||||||
|
Series A, 5.00%, 07/01/25 |
50 | 52,113 | ||||||
|
County of Spokane WA GOL, Series B, 5.00%, 12/01/25 |
115 | 120,734 | ||||||
|
Energy Northwest RB |
||||||||
|
Series A, 5.00%, 07/01/25 |
1,175 | 1,224,661 | ||||||
|
Series C, 5.00%, 07/01/25 |
820 | 854,657 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/25 (GTD) |
110 | 115,550 | ||||||
|
Kitsap County School District No. 401 Central Kitsap GO, 5.00%, 12/01/25 |
140 | 146,980 | ||||||
|
Pierce County School District No 10 Tacoma GO, 5.00%, 12/01/25 |
250 | 262,615 | ||||||
|
Pierce County School District No 402 Franklin Pierce GO, 5.00%, 12/01/25 |
105 | 110,235 | ||||||
|
Port of Seattle WA RB, 4.00%, 02/01/25 |
130 | 131,611 | ||||||
|
Port of Tacoma WA RB, Series A, 4.00%, 12/01/25 |
115 | 116,958 | ||||||
|
Snohomish County School District No. 201 Snohomish GO, 5.00%, 12/01/25, (SCH BD GTY) |
165 | 172,980 | ||||||
|
Snohomish County School District No. 4 Lake Stevens GO, 5.00%, 12/01/25 |
50 | 52,493 | ||||||
|
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/25 |
65 | 68,241 | ||||||
|
State of Washington |
||||||||
|
5.00%, 02/01/25 |
255 | 264,469 | ||||||
|
5.00%, 07/01/25 |
210 | 219,148 | ||||||
|
State of Washington COP |
||||||||
|
5.00%, 01/01/25 |
175 | 181,086 | ||||||
|
5.00%, 07/01/25 (ST INTERCEPT) |
350 | 364,793 | ||||||
|
Series C, 5.00%, 07/01/25 |
45 | 46,902 | ||||||
|
State of Washington GO |
||||||||
|
5.00%, 02/01/25 |
240 | 248,912 | ||||||
|
Series A, 5.00%, 08/01/25 |
155 | 161,948 | ||||||
|
Series A-1, 5.00%, 08/01/25 |
165 | 172,396 | ||||||
|
Series B, 5.00%, 06/01/25 |
160 | 166,769 | ||||||
|
Series B, 5.00%, 08/01/25 |
100 | 104,482 | ||||||
|
Series D, 5.00%, 02/01/25 |
50 | 51,857 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
71 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2025 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
| Washington (continued) | ||||||||
|
Series D, 5.00%, 06/01/25 |
$ | 750 | $ | 781,730 | ||||
|
Series E, 5.00%, 06/01/25 |
700 | 729,615 | ||||||
|
Series F, 0.00%, 12/01/25 (AMBAC)(a) |
240 | 214,408 | ||||||
|
Series R-2018C, 5.00%, 08/01/25 |
135 | 141,051 | ||||||
|
Series R-2018D, 5.00%, 08/01/25 |
375 | 391,809 | ||||||
|
University of Washington, 5.00%, 04/01/25 |
400 | 415,708 | ||||||
|
University of Washington RB |
||||||||
|
5.00%, 04/01/25 |
160 | 166,283 | ||||||
|
5.00%, 12/01/25 |
125 | 131,158 | ||||||
|
Series B, 4.00%, 06/01/25 |
240 | 244,919 | ||||||
|
|
|
|||||||
| 15,629,540 | ||||||||
| West Virginia — 0.4% | ||||||||
|
State of West Virginia GO |
||||||||
|
5.00%, 06/01/25 |
115 | 119,865 | ||||||
|
5.00%, 12/01/25 |
150 | 157,479 | ||||||
|
Series A, 5.00%, 06/01/25 |
455 | 474,250 | ||||||
|
West
Virginia Commissioner of Highways RB, |
315 | 327,787 | ||||||
|
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/25 |
240 | 249,957 | ||||||
|
|
|
|||||||
| 1,329,338 | ||||||||
| Wisconsin — 1.8% | ||||||||
|
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/25 |
855 | 892,035 | ||||||
|
State of Wisconsin GO |
||||||||
|
5.00%, 05/01/25 |
95 | 99,016 | ||||||
|
5.00%, 05/01/32 (PR 05/01/25) |
135 | 140,608 | ||||||
|
Series 2, 4.00%, 11/01/25 |
135 | 137,704 | ||||||
| Security | Par/ Shares (000) |
Value | ||||||
| Wisconsin (continued) | ||||||||
|
Series 2, 5.00%, 11/01/25 |
$ | 2,120 | $ | 2,226,216 | ||||
|
Series A, 5.00%, 05/01/25 |
470 | 489,869 | ||||||
|
Series B, 5.00%, 05/01/25 |
250 | 260,569 | ||||||
|
State of Wisconsin RB, Series A, 5.00%, 05/01/25 |
180 | 187,346 | ||||||
|
Wisconsin Department of Transportation RB |
||||||||
|
Series 1, 5.00%, 07/01/25 |
500 | 522,302 | ||||||
|
Series 2, 5.00%, 07/01/25 |
675 | 705,108 | ||||||
|
|
|
|||||||
| 5,660,773 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 98.6% |
|
307,448,705 | ||||||
|
|
|
|||||||
|
Short-Term Securities |
| |||||||
| Money Market Funds — 0.4% | ||||||||
|
BlackRock Liquidity Funds: MuniCash, 1.83%(b)(c) |
1,305 | 1,305,035 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.4% |
|
1,305,035 | ||||||
|
|
|
|||||||
|
Total
Investments — 99.0% |
|
308,753,740 | ||||||
|
Other Assets Less Liabilities — 1.0% |
|
3,257,889 | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
|
$ | 312,011,629 | |||||
|
|
|
|||||||
| (a) |
Zero-coupon bond. |
| (b) |
Affiliate of the Fund. |
| (c) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 160,825 | $ | 1,144,114 | (a) | $ | — | $ | 96 | $ | — | $ | 1,305,035 | 1,305 | $ | 9,204 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 307,448,705 | $ | — | $ | 307,448,705 | ||||||||
|
Money Market Funds |
1,305,035 | — | — | 1,305,035 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,305,035 | $ | 307,448,705 | $ | — | $ | 308,753,740 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
| 72 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
| Alabama — 1.2% | ||||||||
|
Alabama Federal Aid Highway Finance Authority RB |
||||||||
|
5.00%, 09/01/26 |
$ | 110 | $ | 116,766 | ||||
|
Series A, 5.00%, 09/01/36 (PR 09/01/26) |
250 | 265,377 | ||||||
|
Series B, 5.00%, 09/01/26 |
605 | 642,213 | ||||||
|
Alabama Highway Finance Corp., 5.00%, 08/01/26 |
115 | 121,435 | ||||||
|
Alabama Public School & College Authority, 5.00%, 05/01/26 (Call 05/01/25) |
10 | 10,406 | ||||||
|
Alabama Public School and College Authority RB |
||||||||
|
Series A, 5.00%, 11/01/26 |
130 | 138,213 | ||||||
|
Series B, 5.00%, 01/01/26 (Call 07/01/24) |
300 | 308,249 | ||||||
|
Series C, 5.00%, 06/01/26 (Call 12/01/24) |
150 | 155,105 | ||||||
|
Black Belt Energy Gas District RB, VRDN, 4.00%, 10/01/52 (Put 12/01/26)(a) |
300 | 288,781 | ||||||
|
State of Alabama GO |
||||||||
|
5.00%, 11/01/26 (Call 02/01/26) |
100 | 105,253 | ||||||
|
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
330 | 349,574 | ||||||
|
University of Alabama (The) RB, Series C, 5.00%, 07/01/26 |
125 | 131,944 | ||||||
|
|
|
|||||||
| 2,633,316 | ||||||||
| Arizona — 2.1% | ||||||||
|
Arizona Department of Transportation State Highway Fund Revenue RB, 5.00%, 07/01/26 |
225 | 238,136 | ||||||
|
Arizona State University RB |
||||||||
|
Series A, 5.00%, 07/01/26 |
35 | 36,994 | ||||||
|
Series B, 5.00%, 07/01/29 (Call 07/01/26) |
105 | 110,094 | ||||||
|
Arizona Transportation Board RB, Series A, 5.00%, 07/01/26 |
430 | 454,342 | ||||||
|
City of Phoenix AZ GO |
||||||||
|
4.00%, 07/01/26 |
155 | 158,473 | ||||||
|
5.00%, 07/01/26 |
545 | 575,853 | ||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
185 | 195,735 | ||||||
|
City of Phoenix Civic Improvement Corp., 5.00%, 07/01/26 |
100 | 105,803 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
320 | 336,873 | ||||||
|
5.00%, 07/01/29 (Call 07/01/26) |
325 | 342,824 | ||||||
|
5.50%, 07/01/26 (NPFGC) |
40 | 42,763 | ||||||
|
City of Tucson AZ Water System Revenue RB, 5.00%, 07/01/26 |
100 | 105,661 | ||||||
|
County of Pima Sewer System Revenue, 5.00%, 07/01/26 |
240 | 253,586 | ||||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/26 |
340 | 357,366 | ||||||
|
Series A, 5.00%, 01/01/26 |
845 | 888,162 | ||||||
|
State of Arizona Lottery Revenue RB, 5.00%, 07/01/26 |
100 | 105,732 | ||||||
|
University of Arizona (The) RB, Series A, 4.00%, 06/01/28 (Call 06/01/26) |
220 | 223,537 | ||||||
|
|
|
|||||||
| 4,531,934 | ||||||||
| Arkansas — 0.1% | ||||||||
|
State of Arkansas GO |
||||||||
|
5.00%, 04/01/26 (Call 10/01/24) |
115 | 118,653 | ||||||
|
5.00%, 10/01/26 (Call 10/01/24) |
20 | 20,636 | ||||||
|
|
|
|||||||
| 139,289 | ||||||||
| California — 13.3% | ||||||||
|
Alvord Unified School District GO, Series B, 0.00%, 08/01/26 (AGM)(b) |
55 | 47,632 | ||||||
|
Anaheim Housing & Public Improvements Authority RB, 5.00%, 10/01/26 |
500 | 531,552 | ||||||
|
Beverly Hills Unified School District CA GO, 0.00%, 08/01/26(b) |
100 | 87,371 | ||||||
|
California Health Facilities Financing Authority RB, 5.00%, 11/15/26 (Call 11/15/25) |
115 | 120,702 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
California Infrastructure & Economic Development Bank RB |
||||||||
|
5.00%, 10/01/26 |
$ | 75 | $ | 80,131 | ||||
|
5.00%, 10/01/27 (Call 04/01/26) |
130 | 137,743 | ||||||
|
5.00%, 10/01/27 (PR 10/01/26) |
100 | 106,500 | ||||||
|
5.00%, 10/01/28 (Call 04/01/26) |
40 | 42,356 | ||||||
|
California State Public Works Board, 5.00%, 08/01/26 |
190 | 201,250 | ||||||
|
California State Public Works Board RB |
||||||||
|
4.00%, 10/01/28 (Call 10/01/26) |
175 | 178,075 | ||||||
|
5.00%, 09/01/26 |
75 | 79,530 | ||||||
|
5.00%, 04/01/29 (Call 10/01/26) |
225 | 238,556 | ||||||
|
Series A, 5.00%, 09/01/26 (Call 09/01/24) |
210 | 217,727 | ||||||
|
Series B, 5.00%, 04/01/26 |
50 | 52,739 | ||||||
|
Series B, 5.00%, 10/01/26 (Call 10/01/24) |
125 | 129,796 | ||||||
|
Series C, 5.00%, 11/01/27 (Call 11/01/26) |
160 | 170,004 | ||||||
|
Series D, 4.00%, 04/01/28 (Call 10/01/26) |
250 | 254,631 | ||||||
|
California State University RB |
||||||||
|
5.00%, 11/01/26 |
180 | 191,789 | ||||||
|
Series A, 5.00%, 11/01/26 |
375 | 399,560 | ||||||
|
Series A, 5.00%, 11/01/26 (Call 11/01/25) |
130 | 136,561 | ||||||
|
Series A, 5.00%, 11/01/28 (Call 05/01/26) |
205 | 216,584 | ||||||
|
Carlsbad Unified School District GO, 5.00%, 08/01/27 (Call 08/01/26) |
80 | 84,716 | ||||||
|
City of Los Angeles Department of Airports RB, 5.00%, 05/15/26 |
210 | 221,878 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
|
5.00%, 11/01/27 (Call 11/01/26) |
340 | 362,044 | ||||||
|
5.00%, 11/01/28 (Call 11/01/26) |
195 | 207,570 | ||||||
|
5.00%, 11/01/29 (Call 11/01/26) |
285 | 303,283 | ||||||
|
Series D, 5.00%, 11/01/26 |
240 | 256,183 | ||||||
|
Contra Costa Transportation Authority Sales Tax Revenue RB, 4.00%, 03/01/26 (Call 03/01/25) |
80 | 81,444 | ||||||
|
Contra Costa Water District RB, Series U, 5.00%, 10/01/26 |
50 | 53,288 | ||||||
|
East Bay Municipal Utility District Water System Revenue RB, 5.00%, 06/01/26 |
150 | 158,892 | ||||||
|
East Side Union High School District GO, 5.00%, 08/01/28 (Call 08/01/26) |
275 | 292,019 | ||||||
|
El Camino Community College District Foundation (The) GO, 5.00%, 08/01/28 (Call 08/01/26) |
180 | 191,140 | ||||||
|
El Camino Community College District GO, Series C, 0.00%, 08/01/26(b) |
150 | 131,346 | ||||||
|
Escondido Union High School District GO, Series A, 0.00%, 08/01/26 (AGC)(b) |
50 | 43,238 | ||||||
|
Evergreen
School District GO, 0.00%, 08/01/26 |
80 | 70,051 | ||||||
|
Folsom Cordova Unified School District School Facilities Improvement Dist No. 4 GO, Series A, 0.00%, 10/01/26 (NPFGC)(b) |
100 | 85,482 | ||||||
|
Grossmont Union High School District GO, 0.00%, 08/01/26 (AGM)(b) |
90 | 78,172 | ||||||
|
Long Beach Unified School District GO, 5.00%, 08/01/27 (Call 08/01/26) |
215 | 228,455 | ||||||
|
Los Angeles Community College District/CA, 5.00%, 08/01/26 |
400 | 426,154 | ||||||
|
Los Angeles Community College District/CA GO |
||||||||
|
Series C, 5.00%, 06/01/26 |
150 | 159,414 | ||||||
|
Series G, 5.00%, 08/01/26 (PR 08/01/24) |
70 | 72,200 | ||||||
|
Series I, 4.00%, 08/01/26 |
100 | 102,958 | ||||||
|
Series I, 4.00%, 08/01/29 (Call 08/01/26) |
100 | 102,408 | ||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 07/01/26 |
170 | 180,408 | ||||||
|
5.00%, 07/01/26 (Call 07/01/25) |
140 | 146,365 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
73 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
$ | 135 | $ | 143,063 | ||||
|
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
140 | 148,271 | ||||||
|
Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue RB, 5.00%, 07/01/26 |
215 | 228,162 | ||||||
|
Los Angeles County Public Works Financing Authority, 5.00%, 12/01/26 (Call 12/01/25) |
100 | 105,024 | ||||||
|
Los Angeles County Public Works Financing Authority RB |
||||||||
|
Series A, 5.00%, 12/01/26 (Call 12/01/24) |
70 | 72,504 | ||||||
|
Series S, 5.00%, 10/01/29 (Call 10/01/26) |
300 | 316,845 | ||||||
|
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/26 |
175 | 185,714 | ||||||
|
Los Angeles Department of Water & Power RB, Series A, 5.00%, 07/01/26 |
275 | 291,836 | ||||||
|
Los Angeles Department of Water & Power System Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/26 |
380 | 403,264 | ||||||
|
Series B, 5.00%, 07/01/26 (Call 06/01/26) |
30 | 31,798 | ||||||
|
Los Angeles Department of Water & Power Water System Revenue RB |
||||||||
|
5.00%, 07/01/26 |
145 | 154,083 | ||||||
|
5.00%, 07/01/26 (Call 01/01/26) |
440 | 463,984 | ||||||
|
Los Angeles Department of Water RB |
||||||||
|
5.00%, 07/01/26 |
150 | 159,397 | ||||||
|
Series A, 5.00%, 07/01/26 (Call 07/01/24) |
85 | 87,622 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 01/01/26) |
130 | 136,868 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
5.00%, 07/01/26 |
200 | 212,315 | ||||||
|
Series A, 5.00%, 07/01/26 |
615 | 652,869 | ||||||
|
Series B, 5.00%, 07/01/28 (Call 07/01/26) |
620 | 654,969 | ||||||
|
Series C, 5.00%, 07/01/26 |
105 | 111,465 | ||||||
|
Series C, 5.00%, 07/01/26 (Call 07/01/24) |
215 | 221,209 | ||||||
|
Series D, 5.00%, 07/01/26 (Call 07/01/24) |
170 | 174,910 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
Series A, 2.50%, 07/01/26 |
230 | 219,747 | ||||||
|
Series A, 5.00%, 07/01/26 |
260 | 275,825 | ||||||
|
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/26 |
410 | 436,219 | ||||||
|
Newport Mesa Unified School District GO, 0.00%, 08/01/26 (NPFGC)(b) |
190 | 165,456 | ||||||
|
Ohlone Community College District GO, Series C, 4.00%, 08/01/29 (Call 08/01/26) |
65 | 66,566 | ||||||
|
Palo Alto Unified School District GO, 0.00%, 08/01/26(b) |
170 | 148,914 | ||||||
|
Palos Verdes Peninsula Unified School District GO, 0.00%, 11/01/26 (NPFGC)(b) |
165 | 142,733 | ||||||
|
Pasadena Area Community College District GO, Series A, 4.00%, 08/01/29 (Call 08/01/26) |
165 | 168,974 | ||||||
|
Port of Los Angeles RB, Series C2, 5.00%, 08/01/26 |
120 | 127,584 | ||||||
|
Rancho
Water District Financing Authority RB, |
40 | 42,523 | ||||||
|
Sacramento County Sanitation Districts Financing Authority RB, 5.00%, 08/01/26 (Call 08/01/25) |
80 | 83,678 | ||||||
|
Sacramento Municipal Utility District RB |
||||||||
|
5.00%, 07/01/26 (Call 07/01/25) |
150 | 156,780 | ||||||
|
5.00%, 08/15/26 |
65 | 69,242 | ||||||
|
San Diego Community College District GO, 4.00%, 08/01/28 (Call 08/01/26) |
100 | 102,474 | ||||||
|
San Diego County Regional Transportation Commission RB, Series A, 5.00%, 04/01/29 (Call 04/01/26) |
260 | 275,065 | ||||||
|
San Diego County Water Authority RB, 5.00%, 05/01/26 (Call 05/01/25) |
100 | 104,284 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
San Diego Unified School District/CA |
||||||||
|
5.50%, 07/01/26 (AGM) |
$ | 205 | $ | 221,877 | ||||
|
5.50%, 07/01/26 (ETM) (AGM) |
25 | 26,870 | ||||||
|
San Diego Unified School District/CA GO |
||||||||
|
Series A, 0.00%, 07/01/26(b) |
20 | 17,584 | ||||||
|
Series A, 0.00%, 07/01/26 (ETM)(b) |
30 | 26,377 | ||||||
|
Series R-5, 4.00%, 07/01/29 (Call 07/01/26) |
215 | 219,166 | ||||||
|
Series R-5, 5.00%, 07/01/26 |
100 | 106,336 | ||||||
|
San Francisco Bay Area Rapid Transit District GO |
||||||||
|
4.00%, 08/01/26 |
55 | 56,549 | ||||||
|
5.00%, 08/01/26 |
200 | 212,786 | ||||||
|
Series D, 5.00%, 08/01/26 (Call 08/01/25) |
60 | 62,871 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB, Series A, 5.00%, 05/01/26 |
240 | 251,985 | ||||||
|
San Jose Evergreen Community College District GO, Series A, 5.00%, 09/01/26 (PR 09/01/24) |
100 | 103,246 | ||||||
|
San Mateo County Community College District GO |
||||||||
|
Series A, 0.00%, 09/01/26 (NATL)(b) |
275 | 240,168 | ||||||
|
Series B, 0.00%, 09/01/26 (NPFGC)(b) |
95 | 82,967 | ||||||
|
Santa Barbara Community College District GO |
||||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
100 | 106,258 | ||||||
|
5.00%, 08/01/28 (Call 08/01/26) |
120 | 127,427 | ||||||
|
5.00%, 08/01/29 (Call 08/01/26) |
50 | 53,061 | ||||||
|
Santa Clara County Financing Authority RB, 5.00%, 05/01/26 |
150 | 158,707 | ||||||
|
Santa Clara Unified School District GO, 5.00%, 07/01/26 (Call 07/01/24) |
95 | 97,697 | ||||||
|
Santa Clara Valley Transportation Authority RB, Series A, 5.00%, 06/01/26 |
95 | 100,995 | ||||||
|
Santa Clara Valley Water District COP, Series A, 5.00%, 02/01/29 (Call 02/01/26) |
320 | 336,695 | ||||||
|
Santa Monica-Malibu Unified School District GO, Series D, 4.00%, 08/01/26 (PR 08/01/25) |
40 | 40,888 | ||||||
|
Southern
California Public Power Authority RB, |
65 | 67,433 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
5.00%, 12/01/26 |
155 | 165,765 | ||||||
|
5.00%, 12/01/29 (Call 12/01/26) |
150 | 159,962 | ||||||
|
Series AV, 5.00%, 12/01/26 (Call 06/01/26) |
80 | 84,913 | ||||||
|
Series AW, 5.00%, 12/01/27 (Call 12/01/26) |
155 | 165,598 | ||||||
|
Series AW, 5.00%, 12/01/28 (Call 12/01/26) |
315 | 336,047 | ||||||
|
State of California GO |
||||||||
|
4.00%, 04/01/26 |
100 | 102,239 | ||||||
|
4.00%, 11/01/26 |
750 | 768,680 | ||||||
|
4.00%, 09/01/27 (Call 09/01/26) |
130 | 133,029 | ||||||
|
4.00%, 08/01/28 (Call 08/01/26) |
80 | 81,739 | ||||||
|
4.00%, 09/01/28 (Call 09/01/26) |
415 | 424,149 | ||||||
|
5.00%, 08/01/26 |
385 | 408,493 | ||||||
|
5.00%, 08/01/26 (Call 08/01/25) |
445 | 465,221 | ||||||
|
5.00%, 09/01/26 |
125 | 132,781 | ||||||
|
5.00%, 10/01/26 |
490 | 521,106 | ||||||
|
5.00%, 10/01/26 (Call 04/01/26) |
140 | 147,813 | ||||||
|
5.00%, 11/01/26 |
335 | 356,682 | ||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
305 | 323,091 | ||||||
|
5.00%, 08/01/28 (Call 08/01/26) |
370 | 391,424 | ||||||
|
5.00%, 09/01/28 (Call 09/01/26) |
905 | 958,446 | ||||||
|
5.00%, 08/01/29 (Call 08/01/26) |
200 | 211,447 | ||||||
|
5.00%, 09/01/29 (Call 09/01/26) |
615 | 650,905 | ||||||
|
Series B, 5.00%, 09/01/26 |
525 | 557,681 | ||||||
|
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
560 | 593,216 | ||||||
| 74 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Series C, 5.00%, 08/01/28 (Call 08/01/26) |
$ | 720 | $ | 761,690 | ||||
|
University of California RB |
||||||||
|
4.00%, 05/15/26 |
170 | 174,221 | ||||||
|
5.00%, 05/15/29 (Call 05/15/26) |
360 | 380,460 | ||||||
|
Series AM, 5.00%, 05/15/26 (Call 05/15/24) |
210 | 215,730 | ||||||
|
Series AV, 5.00%, 05/15/26 |
205 | 217,228 | ||||||
|
Series I, 5.00%, 05/15/26 (Call 05/15/25) |
350 | 365,035 | ||||||
|
|
|
|||||||
| 28,174,867 | ||||||||
| Colorado — 0.8% | ||||||||
|
Board of Governors of Colorado State University System, 5.00%, 03/01/26 (ST HGR ED INTERCEPT PROG) |
425 | 446,382 | ||||||
|
City & County of Denver Co. Airport System Revenue RB, 5.00%, 11/15/26 |
190 | 200,268 | ||||||
|
City & County of Denver Co. GO, Series A, 5.00%, 08/01/26 |
45 | 47,730 | ||||||
|
City of Colorado Springs CO Utilities System Revenue RB, Series A2, 5.00%, 11/15/26 |
50 | 53,186 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/26 |
200 | 206,948 | ||||||
|
Denver City & County School District No. 1 GO |
||||||||
|
4.00%, 12/01/26 (Call 12/01/25) (SAW) |
115 | 117,366 | ||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
215 | 228,661 | ||||||
|
5.50%, 12/01/26 (SAW) |
195 | 211,237 | ||||||
|
University of Colorado RB, Series A-2, 5.00%, 06/01/26 |
225 | 237,479 | ||||||
|
|
|
|||||||
| 1,749,257 | ||||||||
| Connecticut — 1.9% | ||||||||
|
State of Connecticut GO |
||||||||
|
4.00%, 06/01/26 |
105 | 106,664 | ||||||
|
Series A, 5.00%, 03/15/26 |
235 | 247,103 | ||||||
|
Series A, 5.00%, 04/15/26 |
560 | 589,499 | ||||||
|
Series B, 4.00%, 06/01/26 |
100 | 101,584 | ||||||
|
Series B, 5.00%, 05/15/26 |
180 | 189,689 | ||||||
|
Series B, 5.00%, 05/15/27 (Call 05/15/26) |
155 | 163,253 | ||||||
|
Series D, 5.00%, 09/15/26 |
355 | 375,712 | ||||||
|
Series E, 5.00%, 10/15/26 |
180 | 190,708 | ||||||
|
Series F, 5.00%, 09/15/26 |
205 | 216,960 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
Series A, 5.00%, 05/01/26 |
445 | 469,023 | ||||||
|
Series A, 5.00%, 09/01/27 (Call 09/01/26) |
470 | 497,050 | ||||||
|
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
160 | 168,859 | ||||||
|
Series B, 5.00%, 09/01/28 (Call 09/01/26) |
150 | 158,306 | ||||||
|
Series C, 5.00%, 10/01/26 |
80 | 84,777 | ||||||
|
Series D, 5.00%, 11/01/26 |
425 | 450,870 | ||||||
|
|
|
|||||||
| 4,010,057 | ||||||||
| Delaware — 0.7% | ||||||||
|
Delaware Transportation Authority RB |
||||||||
|
5.00%, 07/01/26 |
245 | 259,303 | ||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
275 | 290,762 | ||||||
|
State of Delaware GO |
||||||||
|
5.00%, 02/01/26 |
80 | 84,311 | ||||||
|
5.00%, 07/01/28 (Call 07/01/26) |
155 | 164,049 | ||||||
|
Series A, 5.00%, 01/01/26 |
235 | 247,365 | ||||||
|
Series D, 5.00%, 07/01/27 (Call 07/01/26) |
360 | 381,400 | ||||||
|
|
|
|||||||
| 1,427,190 | ||||||||
| District of Columbia — 1.2% | ||||||||
|
District of Columbia GO |
||||||||
|
Series A, 5.00%, 06/01/26 (Call 06/01/25) |
250 | 260,136 | ||||||
|
Series A, 5.00%, 10/15/26 |
160 | 170,066 | ||||||
|
Series A, 5.00%, 06/01/27 (Call 06/01/26) |
175 | 184,464 | ||||||
|
Series B, 5.00%, 06/01/26 (Call 06/01/25) |
125 | 130,068 | ||||||
|
Series D, 5.00%, 06/01/26 |
80 | 84,603 | ||||||
| Security | Par (000) |
Value | ||||||
| District of Columbia (continued) | ||||||||
|
Series D, 5.00%, 06/01/27 (Call 12/01/26) |
$ | 200 | $ | 212,238 | ||||
|
Series D, 5.00%, 06/01/28 (Call 12/01/26) |
190 | 201,477 | ||||||
|
Series D, 5.00%, 06/01/29 (Call 12/01/26) |
215 | 227,819 | ||||||
|
District of Columbia RB |
||||||||
|
5.00%, 12/01/26 |
345 | 365,975 | ||||||
|
Series C, 5.00%, 10/01/26 |
455 | 482,853 | ||||||
|
District of Columbia Water & Sewer Authority RB, 5.00%, 10/01/26 |
95 | 100,887 | ||||||
|
Washington Metropolitan Area Transit Authority RB, Series A, 5.00%, 07/15/26 |
150 | 158,626 | ||||||
|
|
|
|||||||
| 2,579,212 | ||||||||
| Florida — 3.0% | ||||||||
|
County of Miami-Dade FL Aviation Revenue RB, Series B, 5.00%, 10/01/26 (Call 10/01/25) |
290 | 299,921 | ||||||
|
County of Miami-Dade FL Transit System RB, 5.00%, 07/01/27 (Call 07/01/26) |
315 | 332,721 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB, 5.00%, 10/01/26 (Call 10/01/25) |
705 | 733,810 | ||||||
|
Florida Department of Environmental Protection RB |
||||||||
|
5.00%, 07/01/26 (Call 07/01/25) |
255 | 265,447 | ||||||
|
Series A, 5.00%, 07/01/26 (Call 07/01/25) |
165 | 171,760 | ||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
350 | 369,690 | ||||||
|
Hillsborough County Aviation Authority RB, 5.00%, 10/01/26 |
200 | 210,516 | ||||||
|
Orange County School Board COP, 5.00%, 08/01/26 |
160 | 168,550 | ||||||
|
Palm Beach County School District, 5.00%, 08/01/26 |
300 | 314,310 | ||||||
|
Reedy Creek Improvement District GOL |
||||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
300 | 314,572 | ||||||
|
Series A, 5.00%, 06/01/26 |
130 | 136,806 | ||||||
|
School Board of Miami-Dade County (The) COP |
||||||||
|
5.00%, 02/01/29 (Call 02/01/26) |
275 | 285,258 | ||||||
|
Series D, 5.00%, 02/01/27 (Call 02/01/26) |
160 | 167,013 | ||||||
|
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/28 (Call 03/15/26) |
100 | 104,501 | ||||||
|
School District of Broward County/FL COP |
||||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
160 | 167,706 | ||||||
|
Series B, 5.00%, 07/01/26 |
110 | 115,452 | ||||||
|
Series B, 5.00%, 07/01/27 (Call 07/01/26) |
150 | 157,224 | ||||||
|
State of Florida Department of Transportation Turnpike System Revenue RB |
||||||||
|
Series C, 5.00%, 07/01/27 (Call 07/01/26) |
185 | 194,755 | ||||||
|
Series C, 5.00%, 07/01/29 (Call 07/01/26) |
195 | 205,145 | ||||||
|
State of Florida GO |
||||||||
|
Series A, 5.00%, 07/01/26 |
55 | 58,191 | ||||||
|
Series B, 5.00%, 06/01/26 (Call 06/01/24) |
40 | 41,039 | ||||||
|
Series B, 5.00%, 07/01/26 |
225 | 238,056 | ||||||
|
Series C, 5.00%, 06/01/26 |
115 | 121,737 | ||||||
|
Series C, 5.00%, 06/01/28 (Call 06/01/26) |
50 | 52,739 | ||||||
|
Series D, 4.00%, 06/01/29 (Call 06/01/26) |
135 | 136,718 | ||||||
|
Series E, 5.00%, 06/01/26 (Call 06/01/25) |
275 | 286,565 | ||||||
|
Series F, 5.00%, 06/01/29 (Call 06/01/26) |
100 | 105,443 | ||||||
|
State of Florida Lottery Revenue RB |
||||||||
|
5.00%, 07/01/26 |
325 | 342,824 | ||||||
|
Series A, 5.00%, 07/01/26 |
255 | 268,985 | ||||||
|
|
|
|||||||
| 6,367,454 | ||||||||
| Georgia — 1.7% | ||||||||
|
City of Atlanta GA, 5.00%, 12/01/26 |
200 | 212,936 | ||||||
|
City of Atlanta GA Department of Aviation RB, 5.00%, 07/01/26. |
100 | 104,957 | ||||||
|
City of Atlanta GA Water & Wastewater Revenue RB, 5.00%, 11/01/26 |
235 | 249,304 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
75 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Georgia (continued) | ||||||||
|
County of Carroll GA GO, 5.00%, 06/01/26 |
$ | 85 | $ | 89,832 | ||||
|
Forsyth County School District GO, 5.00%, 02/01/27 (Call 02/01/26) |
245 | 258,068 | ||||||
|
Georgia Ports Authority RB, 5.00%, 07/01/26 |
160 | 169,398 | ||||||
|
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/26 |
190 | 200,210 | ||||||
|
Gwinnett County School District GO, Series B, 5.00%, 08/01/26 |
500 | 530,692 | ||||||
|
Metropolitan Atlanta Rapid Transit Authority RB, Series C, 5.00%, 07/01/29 (Call 07/01/26) |
390 | 408,995 | ||||||
|
Private Colleges & Universities Authority RB, 5.00%, 09/01/26 |
220 | 233,044 | ||||||
|
State of Georgia GO |
||||||||
|
Series A, 5.00%, 08/01/26 |
500 | 530,874 | ||||||
|
Series A-1, 5.00%, 02/01/26 |
135 | 142,317 | ||||||
|
Series E, 5.00%, 12/01/26 |
160 | 170,670 | ||||||
|
Series E, 5.00%, 12/01/27 (Call 12/01/26) |
105 | 111,931 | ||||||
|
Series E, 5.00%, 12/01/28 (Call 12/01/26) |
220 | 234,353 | ||||||
|
Series F, 5.00%, 01/01/26 |
25 | 26,323 | ||||||
|
|
|
|||||||
| 3,673,904 | ||||||||
| Hawaii — 1.8% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
260 | 274,627 | ||||||
|
Series A, 5.00%, 07/01/28 (Call 07/01/26) |
370 | 390,684 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
Series A, 5.00%, 10/01/26 (Call 10/01/25) |
150 | 156,850 | ||||||
|
Series B, 5.00%, 10/01/26 (Call 10/01/25) |
100 | 104,566 | ||||||
|
Series D, 5.00%, 09/01/26 |
65 | 68,950 | ||||||
|
County of Hawaii HI GO, Series A, 5.00%, 09/01/27 (Call 03/01/26) |
100 | 105,257 | ||||||
|
State of Hawaii GO |
||||||||
|
5.00%, 01/01/26 |
100 | 105,108 | ||||||
|
5.00%, 10/01/26 |
380 | 403,549 | ||||||
|
5.00%, 10/01/26 (Call 10/01/25) |
90 | 94,110 | ||||||
|
5.00%, 10/01/28 (Call 10/01/26) |
100 | 105,971 | ||||||
|
Series EY, 5.00%, 10/01/26 (Call 10/01/25) |
120 | 125,480 | ||||||
|
Series FE, 5.00%, 10/01/27 (Call 10/01/26) |
460 | 488,159 | ||||||
|
Series FG, 5.00%, 10/01/27 (Call 10/01/26) |
175 | 185,713 | ||||||
|
Series FG, 5.00%, 10/01/29 (Call 10/01/26) |
100 | 105,820 | ||||||
|
Series FH, 5.00%, 10/01/27 (Call 10/01/26) |
160 | 169,794 | ||||||
|
Series FH, 5.00%, 10/01/28 (Call 10/01/26) |
200 | 211,941 | ||||||
|
Series FT, 5.00%, 01/01/26 |
255 | 268,025 | ||||||
|
State of Hawaii State Highway Fund RB |
||||||||
|
5.00%, 01/01/26 |
125 | 131,193 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 07/01/26) |
75 | 79,166 | ||||||
|
Series B, 5.00%, 01/01/27 (Call 07/01/26) |
125 | 132,032 | ||||||
|
|
|
|||||||
| 3,706,995 | ||||||||
| Idaho — 0.3% | ||||||||
|
Idaho Housing & Finance Association RB, 5.00%, 07/15/26 |
520 | 546,937 | ||||||
|
|
|
|||||||
| Illinois — 2.5% | ||||||||
|
Chicago O’Hare International Airport RB |
||||||||
|
5.00%, 01/01/29 (Call 01/01/26) |
170 | 175,816 | ||||||
|
Series B, 5.00%, 01/01/26 (Call 01/01/25) |
100 | 102,768 | ||||||
|
Series D, 5.00%, 01/01/26 |
180 | 187,160 | ||||||
|
Series E, 5.00%, 01/01/26 |
275 | 285,939 | ||||||
|
Illinois Finance Authority, 5.00%, 01/01/26 |
335 | 351,494 | ||||||
|
Illinois Finance Authority RB |
||||||||
|
4.00%, 07/01/26 (Call 01/01/26) |
195 | 198,744 | ||||||
|
5.00%, 04/01/26 |
60 | 63,128 | ||||||
|
5.00%, 07/01/26 |
900 | 950,631 | ||||||
|
Illinois State Toll Highway Authority RB, 5.00%, 01/01/26 |
350 | 365,947 | ||||||
| Security | Par (000) |
Value | ||||||
| Illinois (continued) | ||||||||
|
State of Illinois GO |
||||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
$ | 100 | $ | 100,418 | ||||
|
Series A, 5.00%, 03/01/26 |
470 | 473,406 | ||||||
|
Series A, 5.00%, 10/01/26 |
250 | 251,755 | ||||||
|
Series B, 5.00%, 03/01/26 |
620 | 624,493 | ||||||
|
Series B, 5.13%, 09/01/26 |
150 | 151,703 | ||||||
|
Series D, 5.00%, 11/01/26 |
735 | 740,020 | ||||||
|
State of Illinois Sales Tax Revenue RB |
||||||||
|
5.00%, 06/15/26 |
65 | 66,686 | ||||||
|
Series A, 4.00%, 06/15/26 |
235 | 233,287 | ||||||
|
|
|
|||||||
| 5,323,395 | ||||||||
| Indiana — 1.4% | ||||||||
|
City of Indianapolis Department of Public Utilities Water System Revenue RB, 5.00%, 10/01/26 |
295 | 311,837 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 02/01/29 (PR 02/01/26) |
260 | 273,763 | ||||||
|
Series A, 5.00%, 02/01/26 |
290 | 305,351 | ||||||
|
Series A, 5.00%, 10/01/26 |
80 | 84,536 | ||||||
|
Series A, 5.00%, 10/01/26 (Call 10/01/24) |
100 | 102,540 | ||||||
|
Series C, 5.00%, 06/01/27 (Call 12/01/26) |
605 | 643,918 | ||||||
|
Series E, 5.00%, 02/01/26 |
190 | 200,058 | ||||||
|
Series E, 5.00%, 02/01/29 (Call 08/01/26) |
235 | 248,319 | ||||||
|
Indiana Municipal Power Agency RB, 5.00%, 01/01/27 (Call 07/01/26) |
145 | 151,679 | ||||||
|
Indiana University RB |
||||||||
|
Series A, 5.00%, 06/01/26 |
125 | 132,020 | ||||||
|
Series A, 5.00%, 06/01/27 (Call 06/01/26) |
195 | 205,277 | ||||||
|
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
220 | 230,989 | ||||||
|
|
|
|||||||
| 2,890,287 | ||||||||
| Iowa — 0.3% | ||||||||
|
Iowa Finance Authority RB, 5.00%, 08/01/26 |
360 | 381,185 | ||||||
|
State of Iowa RB, 4.00%, 06/01/26 |
330 | 336,231 | ||||||
|
|
|
|||||||
| 717,416 | ||||||||
| Kansas — 0.4% | ||||||||
|
State of Kansas Department of Transportation, 5.00%, 09/01/26 (Call 09/01/24) |
250 | 257,125 | ||||||
|
State of Kansas Department of Transportation RB, 5.00%, 09/01/26 (Call 09/01/25) |
525 | 547,897 | ||||||
|
|
|
|||||||
| 805,022 | ||||||||
| Kentucky — 0.1% | ||||||||
|
Kentucky Infrastructure Authority RB, Series A, 5.00%, 02/01/26 (Call 02/01/25) |
100 | 103,801 | ||||||
|
|
|
|||||||
| Louisiana — 0.8% | ||||||||
|
State of Louisiana Gasoline & Fuels Tax Revenue RB |
||||||||
|
Series B, 5.00%, 05/01/26 |
100 | 105,365 | ||||||
|
Series B, 5.00%, 05/01/26 (Call 05/01/25) |
65 | 67,463 | ||||||
|
State of Louisiana GO |
||||||||
|
5.00%, 09/01/27 (Call 09/01/26) |
100 | 105,781 | ||||||
|
Series A, 5.00%, 03/01/26 |
150 | 157,691 | ||||||
|
Series A, 5.00%, 09/01/26 |
50 | 52,854 | ||||||
|
Series B, 5.00%, 08/01/26 |
435 | 459,655 | ||||||
|
Series B, 5.00%, 08/01/29 (Call 08/01/26) |
275 | 288,806 | ||||||
|
State of Louisiana RB |
||||||||
|
5.00%, 09/01/26 |
95 | 100,668 | ||||||
|
Series A, 5.00%, 09/01/26 |
225 | 238,423 | ||||||
|
|
|
|||||||
| 1,576,706 | ||||||||
| 76 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Maine — 0.8% | ||||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
5.00%, 09/01/26 |
$ | 200 | $ | 210,900 | ||||
|
5.00%, 11/01/26 |
250 | 265,313 | ||||||
|
5.00%, 11/01/29 (Call 11/01/26) |
220 | 232,632 | ||||||
|
Series A, 5.00%, 09/01/29 (Call 09/01/26) |
105 | 109,954 | ||||||
|
Maine Turnpike Authority RB, 5.00%, 07/01/26 |
435 | 459,472 | ||||||
|
State of Maine GO |
||||||||
|
4.00%, 06/01/26 |
60 | 61,052 | ||||||
|
5.00%, 06/01/26 |
115 | 121,538 | ||||||
|
Series B, 5.00%, 06/01/26 |
205 | 216,654 | ||||||
|
|
|
|||||||
| 1,677,515 | ||||||||
| Maryland — 4.3% | ||||||||
|
City of Baltimore MD GO |
||||||||
|
Series A, 5.00%, 10/15/26 |
90 | 95,594 | ||||||
|
Series B, 5.00%, 10/15/26 |
135 | 143,390 | ||||||
|
City of Baltimore MD RB, 5.00%, 07/01/26 |
215 | 226,716 | ||||||
|
County of Anne Arundel MD GOL |
||||||||
|
5.00%, 10/01/26 |
1,035 | 1,100,704 | ||||||
|
5.00%, 10/01/26 (Call 10/01/25) |
110 | 115,281 | ||||||
|
County of Baltimore MD GO |
||||||||
|
5.00%, 03/01/26 |
195 | 205,692 | ||||||
|
5.00%, 08/01/26 (Call 08/01/25) |
80 | 83,635 | ||||||
|
County of Charles MD GO |
||||||||
|
4.00%, 10/01/26 |
50 | 51,277 | ||||||
|
5.00%, 10/01/26 |
500 | 531,741 | ||||||
|
County of Frederick MD, 5.00%, 08/01/26 |
200 | 211,922 | ||||||
|
County of Frederick MD GO, 5.00%, 02/01/26 |
150 | 157,846 | ||||||
|
County of Howard MD, 5.00%, 02/15/26 |
150 | 158,123 | ||||||
|
County of Howard MD GO |
||||||||
|
5.00%, 08/15/26 |
180 | 191,087 | ||||||
|
Series A, 5.00%, 08/15/26 |
500 | 530,796 | ||||||
|
Series D, 5.00%, 02/15/26 |
265 | 279,350 | ||||||
|
County of Montgomery MD GO |
||||||||
|
5.00%, 11/01/26 |
230 | 244,886 | ||||||
|
Series A, 4.00%, 12/01/26 (Call 12/01/24) |
25 | 25,348 | ||||||
|
Series A, 5.00%, 11/01/26 |
790 | 841,130 | ||||||
|
County of Prince George’s MD GO, Series A, 5.00%, 09/15/26 |
235 | 249,763 | ||||||
|
County of Prince George’s MD GOL |
||||||||
|
5.00%, 07/01/26 |
500 | 529,900 | ||||||
|
Series A, 5.00%, 07/15/26 |
270 | 286,299 | ||||||
|
Maryland State Transportation Authority RB, 5.00%, 07/01/26 |
70 | 73,938 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
5.00%, 09/01/26 |
90 | 95,403 | ||||||
|
5.00%, 10/01/26 |
270 | 286,528 | ||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
110 | 116,570 | ||||||
|
5.00%, 10/01/28 (Call 10/01/26) |
480 | 508,361 | ||||||
|
5.00%, 10/01/29 (Call 10/01/26) |
240 | 253,926 | ||||||
|
State of Maryland GO |
||||||||
|
Series A, 5.00%, 08/01/26 |
225 | 238,648 | ||||||
|
Series B, 4.00%, 08/01/26 |
175 | 179,430 | ||||||
|
Series B, 5.00%, 08/01/26 |
550 | 583,362 | ||||||
|
Washington Suburban Sanitary Commission RB |
||||||||
|
5.00%, 06/01/26 |
300 | 317,575 | ||||||
|
5.00%, 06/01/26 (GTD) |
100 | 105,858 | ||||||
|
5.00%, 06/01/27 (Call 06/01/26) (GTD) |
100 | 105,764 | ||||||
|
|
|
|||||||
| 9,125,843 | ||||||||
| Massachusetts — 3.6% | ||||||||
|
City of Boston MA GO, Series B, 4.00%, 03/01/26 |
60 | 61,334 | ||||||
|
City of Cambridge MA GOL, Series B, 5.00%, 02/15/26 |
165 | 174,040 | ||||||
| Security | Par (000) |
Value | ||||||
| Massachusetts (continued) | ||||||||
|
City of Cambridge MA RB, 5.00%, 02/15/26 |
$ | 195 | $ | 205,684 | ||||
|
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/27 (Call 06/15/26) |
205 | 216,428 | ||||||
|
Commonwealth of Massachusetts GO, Series C, 5.25%, 11/01/26 (AGM) |
50 | 53,527 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
5.00%, 04/01/26 |
100 | 105,312 | ||||||
|
Series A, 5.00%, 01/01/26 |
560 | 587,744 | ||||||
|
Series A, 5.00%, 07/01/26 |
825 | 871,704 | ||||||
|
Series B, 5.00%, 01/01/26 |
20 | 20,991 | ||||||
|
Series C, 5.00%, 09/01/26 |
155 | 164,133 | ||||||
|
Series D, 5.00%, 07/01/26 |
150 | 158,492 | ||||||
|
Series HH, 5.00%, 12/01/26 |
485 | 515,246 | ||||||
|
Series I, 5.00%, 12/01/28 (Call 12/01/26) |
100 | 105,975 | ||||||
|
Commonwealth
of Massachusetts Transportation Fund Revenue RB, |
180 | 190,295 | ||||||
|
Massachusetts Bay Transportation Authority RB |
||||||||
|
5.00%, 07/01/26 (PR 07/01/25) |
150 | 156,223 | ||||||
|
Series A, 4.00%, 07/01/26 |
115 | 117,936 | ||||||
|
Series A, 5.00%, 07/01/26 |
545 | 576,817 | ||||||
|
Series B, 5.00%, 07/01/26 (PR 07/01/25) |
450 | 468,669 | ||||||
|
Massachusetts Clean Water Trust (The), 5.25%, 08/01/26 |
230 | 245,712 | ||||||
|
Massachusetts Development Finance Agency RB, Series A, 5.00%, 10/15/26 |
205 | 218,132 | ||||||
|
Massachusetts School Building Authority RB |
||||||||
|
5.00%, 08/15/26 (Call 08/15/25) |
385 | 402,306 | ||||||
|
Series A, 5.00%, 11/15/26 (Call 11/15/25) |
90 | 94,383 | ||||||
|
Massachusetts State College Building Authority RB |
||||||||
|
4.00%, 05/01/26 (Call 05/01/25) |
||||||||
|
(ST HGR ED INTERCEPT PROG) |
100 | 101,216 | ||||||
|
4.00%, 05/01/26 (PR 05/01/25) |
||||||||
|
(ST HGR ED INTERCEPT PROG) |
5 | 5,073 | ||||||
|
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/26 |
165 | 173,175 | ||||||
|
Massachusetts Water Resources Authority |
||||||||
|
5.00%, 08/01/26 |
115 | 121,851 | ||||||
|
5.00%, 08/01/26 (ETM) |
345 | 363,932 | ||||||
|
Massachusetts Water Resources Authority RB |
||||||||
|
5.00%, 08/01/26 (PR 08/01/24) |
115 | 118,416 | ||||||
|
Series B, 5.25%, 08/01/26 (AGM) |
400 | 427,471 | ||||||
|
Series C, 5.00%, 08/01/35 (PR 08/01/26) |
200 | 211,697 | ||||||
|
University of Massachusetts Building Authority RB |
||||||||
|
5.00%, 05/01/26 |
175 | 184,743 | ||||||
|
5.00%, 11/01/26 |
150 | 159,419 | ||||||
|
|
|
|||||||
| 7,578,076 | ||||||||
| Michigan — 1.2% | ||||||||
|
Great Lakes Water Authority Water Supply System Revenue RB |
||||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
220 | 231,933 | ||||||
|
Series C, 5.00%, 07/01/26 |
110 | 115,645 | ||||||
|
Michigan Finance Authority RB |
||||||||
|
5.00%, 10/01/26 |
100 | 106,197 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/26) |
555 | 588,556 | ||||||
|
Series B, 5.00%, 10/01/29 (Call 10/01/26) |
240 | 253,698 | ||||||
|
Michigan State Building Authority RB |
||||||||
|
5.00%, 10/15/29 (Call 10/15/26) |
350 | 368,506 | ||||||
|
Series I, 5.00%, 04/15/26 (Call 10/15/25) |
105 | 109,468 | ||||||
|
Series I, 5.00%, 04/15/27 (Call 10/15/26) |
140 | 147,594 | ||||||
|
State of Michigan RB, 5.00%, 03/15/26 |
620 | 652,334 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
77 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Michigan (continued) | ||||||||
|
University of Michigan RB, 5.00%, 04/01/26 |
$ | 50 | $ | 52,772 | ||||
|
|
|
|||||||
| 2,626,703 | ||||||||
| Minnesota — 1.5% | ||||||||
|
County of Hennepin MN GO |
||||||||
|
5.00%, 12/01/26 |
280 | 296,475 | ||||||
|
Series A, 5.00%, 12/01/26 |
125 | 132,355 | ||||||
|
Metropolitan Council GO, 5.00%, 12/01/26 |
605 | 644,137 | ||||||
|
Minneapolis-St Paul Metropolitan Airports Commission RB, 5.00%, 01/01/26 |
100 | 103,978 | ||||||
|
Minnesota
Public Facilities Authority RB, |
175 | 184,143 | ||||||
|
State of Minnesota GO |
||||||||
|
5.00%, 08/01/26 |
420 | 445,325 | ||||||
|
Series B, 4.00%, 08/01/26 |
300 | 306,424 | ||||||
|
Series B, 4.00%, 08/01/26 (Call 08/01/24) |
100 | 101,267 | ||||||
|
Series D, 5.00%, 08/01/26 |
305 | 323,390 | ||||||
|
Series D, 5.00%, 10/01/26 |
230 | 244,427 | ||||||
|
Series E, 3.00%, 08/01/26 |
130 | 126,456 | ||||||
|
University of Minnesota, 5.00%, 12/01/26 |
225 | 239,208 | ||||||
|
|
|
|||||||
| 3,147,585 | ||||||||
| Mississippi — 1.0% | ||||||||
|
State of Mississippi, 5.00%, 12/01/33 (PR 12/01/26) |
1,335 | 1,421,927 | ||||||
|
State of Mississippi GO |
||||||||
|
Series A, 5.00%, 10/01/26 |
140 | 148,676 | ||||||
|
Series B, 5.00%, 12/01/29 (PR 12/01/26) |
285 | 303,557 | ||||||
|
Series C, 5.00%, 10/01/26 (Call 10/01/25) |
260 | 272,188 | ||||||
|
|
|
|||||||
| 2,146,348 | ||||||||
| Missouri — 1.0% | ||||||||
|
City of Kansas City MO Water Revenue RB, Series A, 5.00%, 12/01/26 |
235 | 249,287 | ||||||
|
Metropolitan St Louis Sewer District RB, Series C, 5.00%, 05/01/27 (Call 05/01/26) |
125 | 129,160 | ||||||
|
Missouri Highway & Transportation Commission RB |
||||||||
|
5.00%, 11/01/26 |
530 | 563,281 | ||||||
|
Series A, 5.00%, 05/01/26 |
510 | 538,394 | ||||||
|
Series A, 5.00%, 05/01/26 (Call 05/01/24) |
120 | 122,985 | ||||||
|
Missouri State Board of Public Buildings RB, Series A, 4.00%, 04/01/26 (Call 04/01/24) |
195 | 196,759 | ||||||
|
Missouri State Environmental Improvement & Energy Resources Authority RB, Series B, 5.00%, 07/01/26 (Call 07/01/25) |
340 | 354,635 | ||||||
|
|
|
|||||||
| 2,154,501 | ||||||||
| Nebraska — 0.3% | ||||||||
|
Nebraska Public Power District RB |
||||||||
|
5.00%, 01/01/26 |
385 | 402,894 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 01/01/26) |
110 | 114,443 | ||||||
|
Series B, 5.00%, 01/01/29 (Call 01/01/26) |
105 | 109,241 | ||||||
|
|
|
|||||||
| 626,578 | ||||||||
| Nevada — 2.4% | ||||||||
|
Clark County School District GOL |
||||||||
|
Series A, 5.00%, 06/15/26 |
145 | 152,110 | ||||||
|
Series E, 5.00%, 06/15/26 |
135 | 141,620 | ||||||
|
Clark County Water Reclamation District, 5.00%, 07/01/26 |
625 | 661,266 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 11/01/26 (PR 11/01/24) |
80 | 82,614 | ||||||
|
Series B, 5.00%, 11/01/26 |
175 | 185,719 | ||||||
|
Series B, 5.00%, 11/01/27 (Call 11/01/26) |
305 | 324,035 | ||||||
|
Series B, 5.00%, 11/01/29 (Call 11/01/26) |
290 | 307,207 | ||||||
| Security | Par (000) |
Value | ||||||
| Nevada (continued) | ||||||||
|
County of Clark NV Passenger Facility Charge Revenue RB, Series C, 5.00%, 07/01/26 |
$ | 355 | $ | 372,098 | ||||
|
County of Clark NV RB |
||||||||
|
5.00%, 07/01/26 |
445 | 469,405 | ||||||
|
Series A, 5.00%, 07/01/26 (Call 07/01/24) |
400 | 410,635 | ||||||
|
Las Vegas Valley Water District GOL |
||||||||
|
5.00%, 06/01/26 |
50 | 52,790 | ||||||
|
5.00%, 09/15/26 (Call 09/15/25) |
125 | 130,591 | ||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
75 | 79,108 | ||||||
|
Series A, 5.00%, 06/01/26 |
350 | 369,534 | ||||||
|
State of Nevada GO, Series D, 5.00%, 04/01/26 (Call 04/01/25) |
45 | 46,725 | ||||||
|
State of Nevada GOL |
||||||||
|
Series A, 4.00%, 08/01/26 (Call 08/01/25) |
60 | 61,020 | ||||||
|
Series B, 5.00%, 11/01/26 (Call 05/01/25) |
105 | 109,132 | ||||||
|
State of Nevada Highway Improvement Revenue RB |
||||||||
|
5.00%, 12/01/26 (Call 06/01/26) |
545 | 575,039 | ||||||
|
5.00%, 12/01/27 (Call 06/01/26) |
210 | 221,067 | ||||||
|
5.00%, 12/01/28 (Call 06/01/26) |
230 | 241,567 | ||||||
|
Washoe County School District/NV GOL, Series A, 5.00%, 06/01/26 (Call 06/01/25) |
115 | 119,547 | ||||||
|
|
|
|||||||
| 5,112,829 | ||||||||
| New Hampshire — 0.1% | ||||||||
|
New Hampshire Municipal Bond Bank, 5.00%, 08/15/26 (ST INTERCEPT) |
125 | 132,379 | ||||||
|
New Hampshire Municipal Bond Bank RB, 4.00%, 08/15/29 (Call 08/15/26) |
100 | 100,914 | ||||||
|
|
|
|||||||
| 233,293 | ||||||||
| New Jersey — 1.8% | ||||||||
|
County of Union New Jersey GO, 4.00%, 03/01/26 |
35 | 35,679 | ||||||
|
Essex County Improvement Authority RB, 5.50%, 10/01/26 (NPFGC GTD) |
150 | 162,200 | ||||||
|
Monmouth County Improvement Authority (The) RB, 4.00%, 08/01/26 |
205 | 209,970 | ||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/26 |
100 | 103,698 | ||||||
|
New Jersey Economic Development Authority RB |
||||||||
|
Series AAA, 5.00%, 06/15/26 |
100 | 103,391 | ||||||
|
Series B, 5.00%, 11/01/26 (SAP) |
515 | 534,045 | ||||||
|
Series PP, 5.00%, 06/15/26 (Call 06/15/24) |
150 | 152,362 | ||||||
|
Series XX, 4.25%, 06/15/26 (Call 06/15/25) |
485 | 487,808 | ||||||
|
New Jersey Educational Facilities Authority RB, Series B, 5.00%, 07/01/26 |
325 | 344,897 | ||||||
|
New Jersey Transportation Trust Fund Authority RB |
||||||||
|
Series A, 5.00%, 06/15/26 |
330 | 341,189 | ||||||
|
Series A, 5.00%, 06/15/28 (Call 06/15/26) |
400 | 412,259 | ||||||
|
Series A, 5.00%, 06/15/29 (Call 06/15/26) |
80 | 82,293 | ||||||
|
Series AA, 4.25%, 06/15/26 (Call 06/15/25) |
200 | 201,158 | ||||||
|
Series AA, 5.00%, 06/15/26 (Call 06/15/24) |
100 | 101,575 | ||||||
|
Series AA, 5.00%, 06/15/26 (Call 06/15/25) |
25 | 25,625 | ||||||
|
State of New Jersey GO, Series A, 5.00%, 06/01/26 |
565 | 592,832 | ||||||
|
|
|
|||||||
| 3,890,981 | ||||||||
| New Mexico — 0.7% | ||||||||
|
New Mexico Finance Authority RB |
||||||||
|
5.00%, 06/15/26 |
500 | 527,999 | ||||||
|
Series A, 5.00%, 06/15/26 (Call 06/15/24) |
100 | 102,609 | ||||||
|
State of New Mexico GO, 5.00%, 03/01/26 |
305 | 321,328 | ||||||
| 78 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| New Mexico (continued) | ||||||||
|
State of New Mexico Severance Tax Permanent Fund RB, 5.00%, 07/01/26 |
$ | 455 | $ | 481,563 | ||||
|
|
|
|||||||
| 1,433,499 | ||||||||
|
New York — 9.2% |
||||||||
|
City of New York NY GO |
||||||||
|
5.00%, 03/01/26 |
115 | 120,934 | ||||||
|
5.00%, 03/01/26 (Call 03/01/24) |
225 | 229,587 | ||||||
|
5.00%, 08/01/26 (Call 08/01/24) |
175 | 179,597 | ||||||
|
5.00%, 08/01/29 (Call 08/01/26) |
340 | 356,218 | ||||||
|
Series A, 5.00%, 08/01/26 |
190 | 200,906 | ||||||
|
Series A-1, 5.00%, 08/01/26 |
495 | 523,413 | ||||||
|
Series B-1, 5.00%, 08/01/26 |
500 | 528,700 | ||||||
|
Series B-1, 5.00%, 12/01/28 (Call 12/01/26) |
50 | 52,864 | ||||||
|
Series B-1, 5.00%, 12/01/29 (Call 12/01/26) |
250 | 262,862 | ||||||
|
Series C, 5.00%, 08/01/26 |
165 | 174,471 | ||||||
|
Series C, 5.00%, 08/01/27 (Call 02/01/26) |
180 | 189,245 | ||||||
|
Series C, 5.00%, 08/01/28 (Call 02/01/26) |
165 | 172,697 | ||||||
|
Series J9, 5.00%, 08/01/27 (Call 08/01/26) |
305 | 322,838 | ||||||
|
County of Nassau NY GOL, 5.00%, 04/01/26 |
135 | 141,106 | ||||||
|
Hudson Yards Infrastructure Corp. RB, Series A, 5.00%, 02/15/26 |
315 | 330,353 | ||||||
|
Long Island Power Authority RB |
||||||||
|
Series A, 5.00%, 09/01/26 |
40 | 42,357 | ||||||
|
Series B, 5.00%, 09/01/26 |
195 | 206,489 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
4.00%, 11/15/26 |
100 | 102,079 | ||||||
|
5.00%, 11/15/26 |
500 | 512,052 | ||||||
|
Series B, 5.00%, 11/15/26 |
430 | 440,237 | ||||||
|
Series B-2, 5.00%, 11/15/26 |
125 | 132,272 | ||||||
|
Series C-1, 5.00%, 11/15/26 |
685 | 701,511 | ||||||
|
New York City Municipal Water Finance Authority RB |
||||||||
|
Series BB-2, 5.00%, 06/15/26 (Call 12/15/24) |
130 | 134,461 | ||||||
|
Series DD, 5.00%, 06/15/26 |
525 | 555,685 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
5.00%, 07/15/26 (SAW) |
220 | 231,944 | ||||||
|
5.00%, 07/15/26 (ETM) (SAW) |
285 | 301,090 | ||||||
|
5.00%, 07/15/26 (Call 01/15/26) (SAW) |
60 | 62,671 | ||||||
|
Series S1, 5.00%, 07/15/26 (SAW) |
425 | 448,074 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue, 5.00%, 08/01/26 |
200 | 210,975 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
5.00%, 11/01/26 |
465 | 492,055 | ||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
205 | 216,176 | ||||||
|
5.00%, 05/01/29 (Call 05/01/26) |
325 | 339,487 | ||||||
|
Series A-1, 5.00%, 11/01/26 |
105 | 111,109 | ||||||
|
Series B-1, 5.00%, 08/01/29 (Call 08/01/26) |
340 | 356,096 | ||||||
|
Series C, 5.00%, 11/01/26 (Call 05/01/24) |
145 | 148,479 | ||||||
|
Series E1, 4.00%, 02/01/26 |
185 | 188,281 | ||||||
|
New York City Water & Sewer System RB |
||||||||
|
5.00%, 06/15/26 |
165 | 174,644 | ||||||
|
5.00%, 06/15/26 (PR 06/15/25) |
365 | 380,848 | ||||||
|
Series GG-2, 5.00%, 06/15/26 (Call 12/15/24) |
200 | 206,863 | ||||||
|
New York State Dormitory Authority |
||||||||
|
5.00%, 02/15/26 |
70 | 73,434 | ||||||
|
5.00%, 02/15/26 (ETM) |
105 | 110,487 | ||||||
|
5.00%, 10/01/26 |
130 | 138,647 | ||||||
|
New York State Dormitory Authority RB |
||||||||
|
5.00%, 02/15/28 (Call 08/15/26) |
145 | 153,560 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
Series A, 5.00%, 02/15/26 (PR 02/15/24) |
$ | 130 | $ | 133,015 | ||||
|
Series A, 5.00%, 03/15/26 |
755 | 794,694 | ||||||
|
Series A, 5.00%, 03/15/26 (PR 03/15/24) |
100 | 102,368 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 09/15/26) |
575 | 607,906 | ||||||
|
Series A, 5.00%, 02/15/29 (Call 08/15/26) |
430 | 455,226 | ||||||
|
Series A, 5.00%, 03/15/29 (Call 09/15/26) |
630 | 663,715 | ||||||
|
Series A1, 4.00%, 10/01/26 |
115 | 118,449 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 04/01/26) |
110 | 115,952 | ||||||
|
Series D, 5.00%, 02/15/27 (PR 08/15/26) |
165 | 174,805 | ||||||
|
Series D, 5.00%, 02/15/28 (Call 08/15/26) |
580 | 614,238 | ||||||
|
Series E, 5.00%, 03/15/26 (Call 09/15/25) |
115 | 119,888 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 05/15/26 (Call 05/15/24) |
105 | 107,706 | ||||||
|
5.00%, 06/15/29 (Call 06/15/26) |
285 | 300,561 | ||||||
|
Series D, 5.00%, 09/15/26 (Call 03/15/25) |
220 | 228,335 | ||||||
|
Series E, 5.00%, 06/15/26 |
50 | 52,957 | ||||||
|
New York State Thruway Authority RB |
||||||||
|
Series A, 5.00%, 01/01/26 |
125 | 130,467 | ||||||
|
Series A, 5.00%, 01/01/28 (Call 01/01/26) |
150 | 154,789 | ||||||
|
Series L, 5.00%, 01/01/26 |
50 | 52,370 | ||||||
|
New York State Urban Development Corp. RB |
||||||||
|
4.00%, 03/15/26 |
80 | 81,490 | ||||||
|
5.00%, 03/15/26 |
140 | 147,028 | ||||||
|
Series A, 5.00%, 03/15/26 |
355 | 372,820 | ||||||
|
Series A, 5.00%, 03/15/27 (PR 03/15/26) |
210 | 221,231 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 03/15/26) |
545 | 570,059 | ||||||
|
Series E, 5.00%, 03/15/26 |
160 | 168,032 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
4.00%, 12/01/26 |
85 | 86,727 | ||||||
|
5.00%, 07/15/26 |
100 | 105,394 | ||||||
|
5.00%, 09/01/26 |
110 | 116,116 | ||||||
|
5.00%, 09/01/26 (Call 09/01/24) |
195 | 200,838 | ||||||
|
Series 189, 5.00%, 05/01/26 (Call 05/01/25) |
160 | 166,101 | ||||||
|
Sales Tax Asset Receivable Corp. RB, Series A, 5.00%, 10/15/26 (PR 10/15/24) |
295 | 305,125 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series B, 5.00%, 11/15/26 |
320 | 339,642 | ||||||
|
Series C-1, 5.00%, 11/15/26 |
390 | 413,939 | ||||||
|
Utility Debt Securitization Authority RB, Series A, 5.00%, 06/15/28 (Call 06/15/26) |
275 | 290,303 | ||||||
|
|
|
|||||||
| 19,470,140 | ||||||||
|
North Carolina — 1.5% |
||||||||
|
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/26 (Call 07/01/25) |
100 | 104,442 | ||||||
|
County of Buncombe NC RB, 5.00%, 06/01/26 |
70 | 74,004 | ||||||
|
County of Forsyth NC RB, Series A, 4.00%, 04/01/26 |
105 | 107,217 | ||||||
|
County of Orange NC GO, 5.00%, 08/01/26 |
500 | 530,874 | ||||||
|
County of Union NC, 5.00%, 09/01/26 |
150 | 159,448 | ||||||
|
County of Wake NC, 5.00%, 12/01/26 |
150 | 159,355 | ||||||
|
County of Wake NC GO, 5.00%, 03/01/26 |
340 | 358,752 | ||||||
|
North Carolina Capital Facilities Finance Agency RB, 5.00%, 10/01/26 |
200 | 212,470 | ||||||
|
North Carolina Municipal Power Agency No. 1 RB, Series A, 5.00%, 01/01/29 (Call 07/01/26) |
125 | 130,690 | ||||||
|
State of North Carolina GO |
||||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
150 | 158,802 | ||||||
|
Series A, 5.00%, 06/01/26 |
260 | 275,412 | ||||||
|
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
155 | 163,996 | ||||||
|
Series C, 5.00%, 05/01/26 |
110 | 116,385 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
79 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| North Carolina (continued) | ||||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/26 |
$ | 300 | $ | 315,093 | ||||
|
Series B, 5.00%, 06/01/26 |
175 | 184,888 | ||||||
|
Town of Cary NC, 5.00%, 09/01/26 |
170 | 180,708 | ||||||
|
|
|
|||||||
| 3,232,536 | ||||||||
|
Ohio — 2.6% |
||||||||
|
American Municipal Power Inc. RB, 5.00%, 02/15/26 |
500 | 523,260 | ||||||
|
City of Cincinnati OH Water System Revenue RB, 5.00%, 12/01/29 (Call 12/01/26) |
145 | 154,043 | ||||||
|
City of Columbus OH GO |
||||||||
|
Series 2, 5.00%, 07/01/26 |
190 | 201,092 | ||||||
|
Series A, 4.00%, 08/15/26 (Call 08/15/25) |
355 | 362,059 | ||||||
|
City of Columbus OH Sewerage Revenue RB, 5.00%, 06/01/29 (Call 06/01/26) |
230 | 241,488 | ||||||
|
County of Franklin OH GOL, 5.00%, 12/01/26 (Call 12/01/25) |
65 | 68,124 | ||||||
|
County of Franklin OH Sales Tax Revenue RB, 5.00%, 06/01/26 |
230 | 243,155 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, Series A, 5.00%, 12/01/26 |
110 | 116,258 | ||||||
|
Miami University/Oxford OH RB, 5.00%, 09/01/26 |
100 | 105,487 | ||||||
|
Ohio State University (The) RB, 5.00%, 12/01/26 |
105 | 111,713 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
300 | 319,180 | ||||||
|
5.00%, 06/01/28 (Call 12/01/26) |
130 | 138,260 | ||||||
|
5.00%, 12/01/29 (Call 12/01/26) |
150 | 159,296 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB, 5.00%, 06/01/26 |
585 | 618,459 | ||||||
|
State of Ohio, 5.00%, 11/01/26 |
115 | 122,266 | ||||||
|
State of Ohio COP, 5.00%, 09/01/26 |
235 | 248,413 | ||||||
|
State of Ohio GO |
||||||||
|
5.00%, 06/15/26 |
265 | 280,303 | ||||||
|
5.00%, 09/15/26 |
100 | 106,133 | ||||||
|
Series A, 5.00%, 05/01/26 |
160 | 168,962 | ||||||
|
Series B, 4.00%, 09/01/26 (Call 03/01/24) |
100 | 100,904 | ||||||
|
Series S, 5.00%, 05/01/26 |
215 | 227,043 | ||||||
|
Series S, 5.00%, 05/01/28 (Call 05/01/26) |
110 | 115,938 | ||||||
|
Series U, 5.00%, 05/01/26 |
285 | 300,964 | ||||||
|
State of Ohio RB |
||||||||
|
5.00%, 12/15/28 (Call 06/15/26) |
395 | 414,505 | ||||||
|
Series B, 5.00%, 10/01/26 |
110 | 116,402 | ||||||
|
|
|
|||||||
| 5,563,707 | ||||||||
|
Oklahoma — 0.5% |
||||||||
|
Grand River Dam Authority RB |
||||||||
|
Series A, 5.00%, 06/01/26 |
310 | 325,590 | ||||||
|
Series A, 5.00%, 06/01/28 (Call 12/01/26) |
115 | 121,408 | ||||||
|
Oklahoma Capitol Improvement Authority RB, 5.00%, 07/01/29 (Call 07/01/26) |
150 | 157,329 | ||||||
|
Oklahoma Turnpike Authority RB, 5.00%, 01/01/26 |
175 | 183,027 | ||||||
|
Oklahoma Water Resources Board RB, 5.00%, 04/01/27 (Call 04/01/26) |
175 | 184,354 | ||||||
|
|
|
|||||||
| 971,708 | ||||||||
|
Oregon — 2.0% |
||||||||
|
City of Portland OR GOL, Series B, 5.00%, 06/15/26 |
195 | 206,397 | ||||||
|
City of Portland OR Sewer System Revenue RB 5.00%, 03/01/26 |
370 | 389,808 | ||||||
|
Series A, 5.00%, 05/01/27 (Call 05/01/26) |
200 | 211,135 | ||||||
|
Series B, 5.00%, 10/01/26 (Call 10/01/24) |
90 | 92,842 | ||||||
|
City of Portland Sewer System Revenue, 5.00%, 03/01/26 |
220 | 231,778 | ||||||
| Security | Par (000) |
Value | ||||||
| Oregon (continued) | ||||||||
|
Multnomah County School District No. 1 Portland/OR GO, 5.00%, 06/15/26 (GTD) |
$ | 265 | $ | 279,839 | ||||
|
Oregon State Lottery RB, Series C, 5.00%, 04/01/26 (Call 04/01/25) (MO) |
645 | 670,025 | ||||||
|
Portland Community College District GO |
||||||||
|
5.00%, 06/15/26 |
150 | 158,399 | ||||||
|
5.00%, 06/15/28 (Call 06/15/26) |
140 | 147,790 | ||||||
|
5.00%, 06/15/29 (Call 06/15/26) |
150 | 158,138 | ||||||
|
Salem-Keizer School District No. 24J GO, Series B, 5.00%, 06/15/26 (GTD) |
350 | 369,599 | ||||||
|
State of Oregon, 5.00%, 06/01/26 |
165 | 174,437 | ||||||
|
State of Oregon Department of Transportation RB |
||||||||
|
5.00%, 11/15/26 |
160 | 170,132 | ||||||
|
Series B, 5.00%, 11/15/26 |
180 | 191,398 | ||||||
|
State of Oregon GO |
||||||||
|
5.00%, 05/01/26 |
130 | 137,282 | ||||||
|
5.00%, 08/01/26 (Call 08/01/25) |
125 | 130,570 | ||||||
|
5.00%, 06/01/29 (Call 06/01/26) |
100 | 105,374 | ||||||
|
Series C, 5.00%, 06/01/26 |
65 | 68,718 | ||||||
|
Series G, 5.00%, 12/01/29 (Call 12/01/26) |
145 | 153,815 | ||||||
|
Series O, 5.00%, 08/01/26 (PR 08/01/25) |
70 | 73,175 | ||||||
|
|
|
|||||||
| 4,120,651 | ||||||||
|
Pennsylvania — 2.6% |
||||||||
|
City of Philadelphia PA GO, Series A, 5.00%, 08/01/26 |
185 | 193,824 | ||||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
5.00%, 02/01/26 |
640 | 672,668 | ||||||
|
5.00%, 09/15/29 (Call 09/15/26) |
125 | 131,736 | ||||||
|
First Series, 5.00%, 09/15/26 |
260 | 275,557 | ||||||
|
First Series, 5.00%, 09/15/27 (Call 09/15/26) |
205 | 216,351 | ||||||
|
Second Series, 5.00%, 09/15/26 |
405 | 429,233 | ||||||
|
Second Series, 5.00%, 09/15/28 (Call 09/15/26) |
570 | 601,138 | ||||||
|
County of Bucks PA GO, 5.00%, 06/01/26 |
250 | 264,732 | ||||||
|
County of Chester PA GO, Series A, 4.00%, 07/15/27 (Call 07/15/26) |
265 | 271,946 | ||||||
|
Delaware River Port Authority RB, Series B, 5.00%, 01/01/26 |
240 | 249,766 | ||||||
|
Pennsylvania State University (The) RB, 5.00%, 03/01/26 |
640 | 672,198 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
5.00%, 06/01/26 |
405 | 422,041 | ||||||
|
5.00%, 12/01/26 |
110 | 116,258 | ||||||
|
Series A 1, 5.00%, 12/01/26 |
150 | 158,533 | ||||||
|
Series A-1, 5.00%, 12/01/26 (Call 06/01/25) |
180 | 186,821 | ||||||
|
Series A-2, 5.00%, 12/01/26 |
345 | 364,627 | ||||||
|
School District of Philadelphia (The) GOL, Series A, 5.00%, 09/01/26 (SAW) |
100 | 103,885 | ||||||
|
University of Pittsburgh-of the Commonwealth System of Higher Education RB, 4.00%, 04/15/26 (Call 02/15/26) |
150 | 152,207 | ||||||
|
|
|
|||||||
| 5,483,521 | ||||||||
|
Rhode Island — 0.2% |
||||||||
|
Rhode Island Commerce Corp. RB, Series A, 5.00%, 06/15/26 |
125 | 130,956 | ||||||
|
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB, 5.00%, 10/01/26 (Call 10/01/25) |
125 | 131,062 | ||||||
|
State of Rhode Island GO, 5.00%, 05/01/26 |
125 | 131,453 | ||||||
|
|
|
|||||||
| 393,471 | ||||||||
|
South Carolina — 0.5% |
||||||||
|
Horry County School District/SC GO, 5.00%, 03/01/26 (Call 03/01/25) (SCSDE) |
150 | 155,742 | ||||||
|
South Carolina Public Service Authority RB, 5.00%, 12/01/26 |
200 | 207,979 | ||||||
|
State of South Carolina, 5.00%, 04/01/26 (SAW) |
600 | 634,056 | ||||||
|
|
|
|||||||
| 997,777 | ||||||||
| 80 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Tennessee — 2.8% | ||||||||
|
City of Knoxville TN Electric System Revenue RB, Series HH, 5.00%, 07/01/26 |
$ | 190 | $ | 201,025 | ||||
|
City of Memphis TN GO, Series A, 5.00%, 04/01/26 (Call 04/01/25) |
400 | 415,267 | ||||||
|
County of Blount TN Go, Series B, 5.00%, 06/01/26 |
85 | 89,832 | ||||||
|
County of Blount TN GO |
||||||||
|
5.00%, 06/01/28 (Call 06/01/26) |
175 | 184,551 | ||||||
|
Series B, 5.00%, 06/01/27 (Call 06/01/26) |
160 | 169,056 | ||||||
|
County of Montgomery TN GO, 5.00%, 04/01/26 |
200 | 210,294 | ||||||
|
County of Shelby TN GO, 5.00%, 04/01/26 |
290 | 305,884 | ||||||
|
County of Washington TN GO, Series A, 4.00%, 06/01/29 (Call 06/01/26) |
150 | 152,768 | ||||||
|
County of Williamson TN, 5.00%, 04/01/26 |
150 | 158,216 | ||||||
|
County of Williamson TN GO, 5.00%, 04/01/26 |
120 | 126,572 | ||||||
|
County of Wilson TN, 5.00%, 04/01/26 |
150 | 158,216 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series B, 5.00%, 05/15/26 |
455 | 480,581 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
4.00%, 01/01/28 (Call 07/01/26) |
220 | 224,730 | ||||||
|
5.00%, 01/01/26 |
135 | 141,896 | ||||||
|
5.00%, 01/01/27 (Call 07/01/26) |
235 | 248,648 | ||||||
|
Series C, 5.00%, 01/01/26 |
180 | 189,194 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB, Series B, 5.00%, 07/01/26 |
265 | 280,377 | ||||||
|
State of Tennessee GO |
||||||||
|
5.00%, 08/01/26 |
235 | 249,511 | ||||||
|
Series A, 5.00%, 08/01/26 |
165 | 175,188 | ||||||
|
Series A, 5.00%, 08/01/27 (Call 08/01/26) |
100 | 106,113 | ||||||
|
Series A, 5.00%, 08/01/28 (Call 08/01/26) |
190 | 201,483 | ||||||
|
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
520 | 551,786 | ||||||
|
Tennessee State School Bond Authority, 5.00%, 11/01/26 (ST INTERCEPT) |
280 | 297,430 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
5.00%, 11/01/26 (ST INTERCEPT) |
245 | 260,384 | ||||||
|
Series B, 5.00%, 11/01/26 |
385 | 409,175 | ||||||
|
|
|
|||||||
| 5,988,177 | ||||||||
| Texas — 11.0% | ||||||||
|
Alamo Community College District, 5.00%, 02/15/26 |
500 | 525,482 | ||||||
|
Aldine Independent School District GO, 5.00%, 02/15/26 (PSF) |
75 | 78,703 | ||||||
|
Allen Independent School District GO |
||||||||
|
5.00%, 02/15/26 (PSF) |
120 | 126,039 | ||||||
|
5.00%, 02/15/27 (Call 02/15/26) (PSF) |
100 | 105,001 | ||||||
|
Alvin Independent School District/TX GO, 5.00%, 02/15/27 (Call 02/15/26) (PSF) |
305 | 320,253 | ||||||
|
Austin Community College District Public Facility Corp. RB, 5.00%, 08/01/26 (Call 08/01/25) |
65 | 67,693 | ||||||
|
Austin Independent School District GO |
||||||||
|
5.00%, 08/01/26 (PSF) |
100 | 105,849 | ||||||
|
5.00%, 08/01/28 (Call 08/01/26) (PSF) |
90 | 94,874 | ||||||
|
Series C, 5.00%, 08/01/26 |
150 | 158,448 | ||||||
|
Board of Regents of the University of Texas System, Series C, 5.00%, 08/15/26 |
140 | 148,162 | ||||||
|
Board of Regents of the University of Texas System RB |
||||||||
|
5.00%, 08/15/27 (Call 08/15/26) |
235 | 248,444 | ||||||
|
5.00%, 08/15/28 (Call 08/15/26) |
120 | 126,690 | ||||||
|
Series J, 5.00%, 08/15/26 |
470 | 497,745 | ||||||
|
City of Austin TX GOL |
||||||||
|
5.00%, 09/01/28 (Call 09/01/26) |
250 | 264,085 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
5.00%, 09/01/29 (Call 09/01/26) |
$ | 125 | $ | 131,950 | ||||
|
City of Austin TX RB, 5.00%, 09/01/26 |
220 | 232,638 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/26 |
335 | 354,396 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
|
Series A, 5.00%, 10/01/27 (Call 10/01/26) |
140 | 148,359 | ||||||
|
Series A, 5.00%, 10/01/29 (Call 10/01/26) |
320 | 337,424 | ||||||
|
City of Fort Worth TX GOL, 5.00%, 03/01/26 |
95 | 99,841 | ||||||
|
City of Fort Worth TX Water & Sewer System Revenue RB |
||||||||
|
5.00%, 02/15/26 (Call 02/15/25) |
115 | 119,108 | ||||||
|
Series A, 5.00%, 02/15/26 |
170 | 178,556 | ||||||
|
City of Houston TX Airport System Revenue RB, 5.00%, 07/01/26 |
165 | 172,485 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
5.00%, 11/15/26 |
135 | 142,764 | ||||||
|
Series B, 5.00%, 11/15/28 (Call 11/15/26) |
100 | 105,648 | ||||||
|
Series C, 5.00%, 05/15/26 (Call 05/15/24) |
780 | 798,334 | ||||||
|
Series D, 5.00%, 11/15/26 (Call 11/15/24) |
50 | 51,534 | ||||||
|
City of Houston TX GOL, Series A, 5.00%, 03/01/26 (Call 03/01/24) |
100 | 101,944 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
|
5.00%, 02/01/26 (Call 02/01/24) |
125 | 127,582 | ||||||
|
Series A, 5.00%, 02/01/26 |
135 | 142,019 | ||||||
|
City of San Antonio TX GOL |
||||||||
|
5.00%, 02/01/26 (Call 02/01/25) |
200 | 207,559 | ||||||
|
5.00%, 08/01/26 |
235 | 249,425 | ||||||
|
Clear Creek Independent School District GO |
||||||||
|
Series A, 5.00%, 02/15/26 (Call 02/15/25) (PSF) |
60 | 62,144 | ||||||
|
Series D, 5.00%, 02/15/26 (Call 02/15/24) (PSF) |
70 | 71,506 | ||||||
|
Conroe Independent School District GO, 5.00%, 02/15/26 (PSF) |
220 | 231,422 | ||||||
|
County of Bexar TX, 5.00%, 06/15/32 (PR 06/15/26) |
185 | 195,817 | ||||||
|
County of Bexar TX GOL |
||||||||
|
5.00%, 06/15/26 (PR 06/15/24) |
90 | 92,494 | ||||||
|
5.00%, 06/15/29 (PR 06/15/26) |
250 | 264,618 | ||||||
|
County of Fort Bend TX GOL, Series B, 5.00%, 03/01/28 (Call 03/01/26) |
120 | 125,921 | ||||||
|
County of Harris TX GO, Series A, 5.00%, 10/01/26 |
120 | 127,210 | ||||||
|
County of Harris TX RB, 5.00%, 08/15/26 (Call 08/15/25) |
400 | 417,406 | ||||||
|
County of Travis TX GOL, 5.00%, 03/01/29 (Call 03/01/26) |
240 | 251,534 | ||||||
|
Crowley Independent School District GO, Series A, 5.00%, 08/01/26 (Call 08/01/25) (PSF) |
50 | 52,174 | ||||||
|
Cypress-Fairbanks Independent School District GO |
||||||||
|
5.00%, 02/15/26 (PSF) |
295 | 309,940 | ||||||
|
5.00%, 02/15/27 (Call 02/15/26) (PSF) |
920 | 964,839 | ||||||
|
Dallas Area Rapid Transit RB |
||||||||
|
5.00%, 12/01/26 |
185 | 196,537 | ||||||
|
Series A, 5.00%, 12/01/26 (PR 12/01/24) |
60 | 62,097 | ||||||
|
Series B, 5.00%, 12/01/28 (Call 12/01/26) |
210 | 221,865 | ||||||
|
Dallas Fort Worth International Airport RB, Series A, 5.00%, 11/01/26 |
200 | 209,883 | ||||||
|
Dallas/Fort Worth International Airport RB, 5.00%, 11/01/26 |
160 | 168,576 | ||||||
|
Denton Independent School District GO |
||||||||
|
5.00%, 08/15/27 (Call 02/15/26) (PSF) |
195 | 204,628 | ||||||
|
5.00%, 08/15/29 (Call 02/15/26) (PSF) |
150 | 156,788 | ||||||
|
Keller Independent School District/TX GO |
||||||||
|
5.00%, 02/15/26 (Call 02/15/25) (PSF) |
80 | 82,947 | ||||||
|
5.00%, 02/15/26 (PR 02/15/25) (PSF) |
70 | 72,674 | ||||||
|
Klein Independent School District, 5.00%, 08/01/26 (PSF) |
200 | 211,769 | ||||||
|
Klein Independent School District GO, 5.00%, 08/01/26 (PSF) |
100 | 105,885 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
81 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Leander Independent School District GO |
||||||||
|
5.00%, 08/15/28 (Call 02/15/26) (PSF) |
$ | 100 | $ | 104,620 | ||||
|
Series A, 5.00%, 08/15/27 (Call 08/15/26) (PSF) |
115 | 121,579 | ||||||
|
Series C, 5.00%, 08/15/26 (PSF) |
170 | 180,222 | ||||||
|
Lewisville Independent School District GO |
||||||||
|
4.00%, 08/15/26 (Call 08/15/25) (PSF) |
100 | 101,468 | ||||||
|
5.00%, 08/15/26 (PSF) |
140 | 148,213 | ||||||
|
5.00%, 08/15/26 (Call 08/15/25) (PSF) |
135 | 141,094 | ||||||
|
Lone Star College System GOL, 5.00%, 02/15/28 (Call 02/15/26) |
295 | 309,004 | ||||||
|
Lower Colorado River Authority RB |
||||||||
|
5.00%, 05/15/26 |
245 | 256,689 | ||||||
|
5.00%, 05/15/26 (Call 05/15/24) |
135 | 137,970 | ||||||
|
Series B, 5.00%, 05/15/26 (Call 05/15/25) |
140 | 145,080 | ||||||
|
Mansfield Independent School District GO, Series B, 5.00%, 02/15/26 (PSF) |
100 | 105,160 | ||||||
|
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue RB |
||||||||
|
5.00%, 11/01/27 (Call 11/01/26) |
230 | 243,382 | ||||||
|
5.00%, 11/01/28 (Call 11/01/26) |
215 | 226,934 | ||||||
|
5.00%, 11/01/29 (Call 11/01/26) |
135 | 142,184 | ||||||
|
Series B, 5.00%, 11/01/26 (Call 11/01/25) |
250 | 261,651 | ||||||
|
North East Independent School District/TX GO, 4.00%, 08/01/27 (Call 08/01/26) (PSF) |
150 | 152,276 | ||||||
|
North Texas Municipal Water District RB, 5.00%, 06/01/28 (Call 06/01/26) |
200 | 210,196 | ||||||
|
North Texas Municipal Water District Water System Revenue, 5.00%, 09/01/26 |
330 | 350,053 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
5.00%, 01/01/26 |
250 | 261,773 | ||||||
|
5.00%, 01/01/26 (Call 01/01/25) |
115 | 118,765 | ||||||
|
5.00%, 01/01/28 (Call 01/01/26) |
255 | 265,960 | ||||||
|
Series A, 5.00%, 01/01/26 |
55 | 57,590 | ||||||
|
Series A, 5.00%, 01/01/28 (Call 01/01/26) |
345 | 359,828 | ||||||
|
Series B, 5.00%, 01/01/26 (Call 01/01/25) |
140 | 144,583 | ||||||
|
Series B, 5.00%, 01/01/27 (Call 01/01/26) |
185 | 193,614 | ||||||
|
Series B, 5.00%, 01/01/29 (Call 01/01/26) |
210 | 218,136 | ||||||
|
Northside Independent School District GO, 4.00%, 08/15/26 (PSF) |
190 | 194,307 | ||||||
|
Northside Independent School District RB, 5.00%, 08/15/26 (Call 08/15/25) |
130 | 135,446 | ||||||
|
Northwest Independent School District GO, 5.00%, 02/15/29 (PR 02/15/26) (PSF) |
230 | 241,947 | ||||||
|
Permanent University Fund - Texas A&M University System RB, Series A, 5.50%, 07/01/26 (Call 07/01/25) |
210 | 221,420 | ||||||
|
Permanent University Fund - University of Texas System RB, 5.00%, 07/01/26 (Call 07/01/25) |
325 | 339,158 | ||||||
|
Plano Independent School District GO |
||||||||
|
Series A, 5.00%, 02/15/28 (Call 02/15/26) (PSF) |
150 | 157,549 | ||||||
|
Series A, 5.00%, 02/15/29 (Call 02/15/26) |
100 | 105,001 | ||||||
|
San Antonio Independent School District/TX GO, 5.00%, 08/15/26 (PSF) |
170 | 179,911 | ||||||
|
San Antonio Water System, 5.00%, 05/15/27 (Call 11/15/26) |
190 | 202,265 | ||||||
|
San Jacinto Community College District, 5.00%, 02/15/26 (Call 02/15/25) |
155 | 160,722 | ||||||
|
State of Texas GO |
||||||||
|
5.00%, 04/01/26 |
380 | 400,436 | ||||||
|
5.00%, 10/01/26 |
215 | 228,080 | ||||||
|
5.00%, 04/01/29 (Call 04/01/26) |
180 | 189,442 | ||||||
|
Series A, 5.00%, 04/01/29 (Call 04/01/26) |
110 | 115,770 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Series B-1, 5.00%, 08/01/27 (Call 08/01/26) |
$ | 155 | $ | 164,009 | ||||
|
State of Texas GOL, 5.00%, 08/01/26 (Call 08/01/25) |
100 | 104,375 | ||||||
|
Texas A&M University RB |
||||||||
|
4.00%, 05/15/27 (Call 05/15/26) |
100 | 101,452 | ||||||
|
4.00%, 05/15/28 (Call 05/15/26) |
180 | 182,862 | ||||||
|
Series C, 5.00%, 05/15/26 |
75 | 79,012 | ||||||
|
Series E, 4.00%, 05/15/27 (Call 05/15/26) |
100 | 101,452 | ||||||
|
Texas State Technical College, 5.00%, 08/01/26 (AGM) |
300 | 313,969 | ||||||
|
Texas State University System RB, Series A, 5.00%, 03/15/26 |
750 | 789,358 | ||||||
|
Texas Transportation Commission State Highway Fund RB |
||||||||
|
5.25%, 04/01/26 |
105 | 111,313 | ||||||
|
Series A, 5.00%, 10/01/26 |
500 | 529,477 | ||||||
|
Texas Water Development Board RB |
||||||||
|
5.00%, 04/15/26 |
505 | 531,770 | ||||||
|
5.00%, 04/15/26 (Call 10/15/25) |
90 | 94,136 | ||||||
|
Series A, 5.00%, 10/15/26 |
280 | 296,763 | ||||||
|
Series B, 5.00%, 04/15/26 |
70 | 73,711 | ||||||
|
Series B, 5.00%, 10/15/26 |
420 | 445,144 | ||||||
|
|
|
|||||||
| 23,177,989 | ||||||||
| Utah — 1.2% | ||||||||
|
Intermountain Power Agency, Series A, 5.00%, 07/01/26 |
70 | 73,839 | ||||||
|
Metropolitan Water District of Salt Lake & Sandy, 5.00%, 07/01/26 (Call 01/01/26) |
200 | 209,541 | ||||||
|
State of Utah GO |
||||||||
|
5.00%, 07/01/26 |
940 | 998,216 | ||||||
|
Series B, 5.00%, 07/01/26 |
320 | 339,818 | ||||||
|
University of Utah (The), 5.00%, 08/01/26 |
195 | 206,405 | ||||||
|
University of Utah (The) RB |
||||||||
|
5.00%, 08/01/26 |
200 | 211,697 | ||||||
|
5.00%, 08/01/28 (Call 08/01/26) |
180 | 189,554 | ||||||
|
Series B-1, 5.00%, 08/01/26 (SAP) |
120 | 127,018 | ||||||
|
Utah Transit Authority RB, Series A, 5.00%, 06/15/26 (PR 06/15/25) |
65 | 67,822 | ||||||
|
|
|
|||||||
| 2,423,910 | ||||||||
| Vermont — 0.1% | ||||||||
|
Vermont Municipal Bond Bank RB, Series 4, 5.00%, 12/01/26 |
100 | 106,236 | ||||||
|
|
|
|||||||
| Virginia — 4.7% | ||||||||
|
City of Chesapeake VA GO, 5.00%, 08/01/26 (SAW) |
120 | 127,279 | ||||||
|
City of Falls Church VA GO, Series B, 5.00%, 07/15/27 (Call 07/15/26) |
175 | 185,502 | ||||||
|
City of Newport News VA GO, Series A, 4.00%, 08/01/26 |
185 | 188,569 | ||||||
|
City of Norfolk VA GO, Series B, 4.00%, 10/01/28 (Call 10/01/26) |
185 | 189,202 | ||||||
|
City of Richmond VA GO, Series D, 5.00%, 03/01/26 (SAW) |
60 | 63,173 | ||||||
|
City of Richmond VA Public Utility Revenue RB, 5.00%, 01/15/27 (Call 01/15/26) |
245 | 257,578 | ||||||
|
City of Suffolk VA GO |
||||||||
|
5.00%, 02/01/26 |
80 | 84,361 | ||||||
|
5.00%, 02/01/26 (PR 02/01/25) (SAW) |
225 | 233,454 | ||||||
|
Commonwealth of Virginia, 5.00%, 06/01/26 |
125 | 132,453 | ||||||
|
Commonwealth of Virginia GO, 5.00%, 06/01/26 |
50 | 52,981 | ||||||
|
County of Arlington VA GO |
||||||||
|
5.00%, 08/15/26 |
80 | 84,840 | ||||||
|
Series A, 5.00%, 08/15/30 (PR 08/15/26) |
160 | 169,742 | ||||||
|
County of Chesterfield VA GO, Series B, 5.00%, 01/01/26 |
185 | 194,620 | ||||||
|
County of Fairfax VA GO |
||||||||
|
Series A, 4.00%, 10/01/26 |
95 | 97,426 | ||||||
|
Series A, 4.00%, 10/01/26 (Call 04/01/26) (SAW) |
160 | 163,074 | ||||||
| 82 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Virginia (continued) | ||||||||
|
County of Fairfax VA Sewer Revenue RB |
||||||||
|
5.00%, 07/15/26 |
$ | 350 | $ | 371,254 | ||||
|
Series A, 5.00%, 07/15/29 (Call 07/15/26) |
230 | 242,569 | ||||||
|
County of Henrico VA GO, 5.00%, 08/01/26 |
100 | 106,175 | ||||||
|
County of Loudoun VA GO |
||||||||
|
5.00%, 12/01/26 (SAW) |
120 | 127,861 | ||||||
|
Series A, 5.00%, 12/01/26 |
165 | 175,809 | ||||||
|
Series A, 5.00%, 12/01/26 (Call 12/01/25) |
175 | 183,726 | ||||||
|
Hampton Roads Sanitation District RB |
||||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
55 | 58,078 | ||||||
|
Series A, 5.00%, 08/01/37 (PR 08/01/26) |
1,500 | 1,590,444 | ||||||
|
Prince William County Industrial Development Authority RB, 5.00%, 10/01/26 |
100 | 106,046 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 02/01/29 (Call 02/01/26) |
150 | 157,232 | ||||||
|
5.00%, 09/01/29 (Call 09/01/26) (ST INTERCEPT) |
285 | 300,219 | ||||||
|
5.00%, 09/01/29 (PR 09/01/26) (ST INTERCEPT) |
15 | 15,867 | ||||||
|
Series A, 5.00%, 02/01/26 |
160 | 168,117 | ||||||
|
Series A, 5.00%, 09/01/27 (Call 09/01/26) (ST INTERCEPT) |
265 | 280,418 | ||||||
|
Series B, 5.00%, 09/01/26 (Call 09/01/25) |
75 | 78,374 | ||||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 05/15/26 (Call 05/15/24) |
100 | 102,607 | ||||||
|
5.00%, 09/15/26 |
280 | 296,649 | ||||||
|
5.00%, 09/15/27 (Call 09/15/26) |
315 | 333,848 | ||||||
|
Series A, 5.00%, 05/15/26 |
260 | 274,262 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
Series A, 5.00%, 08/01/26 |
615 | 650,080 | ||||||
|
Series B, 5.00%, 08/01/26 |
215 | 227,264 | ||||||
|
Series C, 4.00%, 08/01/26 (Call 08/01/24) |
100 | 101,132 | ||||||
|
Virginia Public School Authority, 5.00%, 08/01/26 |
110 | 116,394 | ||||||
|
Virginia Public School Authority RB |
||||||||
|
5.00%, 08/01/26 (SAW) |
215 | 227,497 | ||||||
|
Series B, 5.00%, 08/01/26 |
215 | 227,496 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
5.00%, 11/01/26 |
410 | 436,219 | ||||||
|
5.00%, 11/01/26 (Call 11/01/25) |
215 | 225,772 | ||||||
|
5.00%, 11/01/27 (Call 11/01/26) |
215 | 227,839 | ||||||
|
Series A, 5.00%, 11/01/26 |
315 | 335,144 | ||||||
|
|
|
|||||||
| 9,968,646 | ||||||||
| Washington — 5.0% | ||||||||
|
Cascade Water Alliance, 5.00%, 09/01/26 |
325 | 344,750 | ||||||
|
Central Puget Sound Regional Transit Authority RB |
||||||||
|
Series S-1, 5.00%, 11/01/26 (PR 11/01/25) |
70 | 73,446 | ||||||
|
SERIES S-1, 5.00%, 11/01/26 |
250 | 265,602 | ||||||
|
City of Seattle Municipal Light & Power Revenue, 5.00%, 02/01/26 |
270 | 283,697 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 07/01/26 |
120 | 127,006 | ||||||
|
City of Seattle WA GOL |
||||||||
|
4.00%, 04/01/28 (Call 04/01/26) |
80 | 81,727 | ||||||
|
Series A, 5.00%, 06/01/26 (Call 06/01/25) |
175 | 182,139 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
|
4.00%, 10/01/27 (Call 10/01/26) |
110 | 112,533 | ||||||
|
4.00%, 04/01/29 (Call 04/01/26) |
160 | 162,965 | ||||||
|
Series B, 5.00%, 04/01/26 |
285 | 300,139 | ||||||
|
Series B, 5.00%, 04/01/27 (Call 04/01/26) |
205 | 216,025 | ||||||
|
Series B, 5.00%, 04/01/28 (Call 04/01/26) |
165 | 173,656 | ||||||
|
City of Seattle WA Water System Revenue RB, 5.00%, 08/01/26 |
145 | 153,638 | ||||||
|
City of Spokane WA GO, 5.00%, 12/01/26 |
160 | 170,167 | ||||||
| Security | Par (000) |
Value | ||||||
| Washington (continued) | ||||||||
|
Clark County School District No. 37 Vancouver GO, 5.00%, 12/01/26 (GTD) |
$ | 165 | $ | 175,420 | ||||
|
County of King WA GOL, 5.00%, 07/01/26 (Call 01/01/25) |
200 | 206,871 | ||||||
|
County of King WA Sewer Revenue RB, Series B, 5.00%, 07/01/26 |
420 | 444,074 | ||||||
|
County of Pierce WA GOL, Series A, 5.00%, 07/01/26 |
110 | 116,227 | ||||||
|
County of Spokane WA GOL, 5.00%, 12/01/26 |
60 | 63,812 | ||||||
|
Energy Northwest RB |
||||||||
|
5.00%, 07/01/26 (Call 07/01/25) |
280 | 292,125 | ||||||
|
Series A, 5.00%, 07/01/26 |
1,080 | 1,137,327 | ||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
120 | 126,836 | ||||||
|
Series C-1, 5.00%, 07/01/26 (Call 07/01/24) |
275 | 282,311 | ||||||
|
King County School District No. 401 Highline GO, 5.00%, 12/01/28 (Call 12/01/26) (GTD) |
320 | 339,831 | ||||||
|
King County School District No. 414 Lake Washington GO, 4.00%, 12/01/26 (Call 06/01/26) (GTD) |
440 | 450,292 | ||||||
|
Pierce County School District No 10 Tacoma GO, 5.00%, 12/01/26 (Call 12/01/25) (GTD) |
145 | 151,926 | ||||||
|
Pierce County School District No. 402 Franklin Pierce GO, 5.00%, 12/01/27 (Call 12/01/26) (GTD) |
100 | 106,354 | ||||||
|
Port of Seattle WA RB |
||||||||
|
5.00%, 02/01/26 |
530 | 555,222 | ||||||
|
5.00%, 06/01/26 |
55 | 57,861 | ||||||
|
5.00%, 08/01/26 |
310 | 326,788 | ||||||
|
Port of Tacoma WA GOL, Series A, 5.00%, 12/01/29 (Call 12/01/26) |
100 | 106,001 | ||||||
|
State of Washington, 5.00%, 07/01/26 |
485 | 513,314 | ||||||
|
State of Washington GO |
||||||||
|
0.00%, 06/01/26 (AMBAC)(b) |
100 | 87,597 | ||||||
|
5.00%, 07/01/26 (Call 01/01/26) |
170 | 178,631 | ||||||
|
5.00%, 08/01/26 |
440 | 466,212 | ||||||
|
5.00%, 08/01/26 (Call 08/01/25) |
115 | 120,124 | ||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
155 | 164,177 | ||||||
|
Series 2020-A, 5.00%, 08/01/26 |
155 | 164,234 | ||||||
|
Series B, 5.00%, 02/01/26 (Call 02/01/25) |
410 | 425,044 | ||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
120 | 126,888 | ||||||
|
Series C, 5.00%, 02/01/26 |
85 | 89,446 | ||||||
|
Series R, 5.00%, 08/01/28 (Call 08/01/26) |
290 | 306,646 | ||||||
|
University of Washington RB |
||||||||
|
Series A, 5.00%, 12/01/26 |
225 | 239,032 | ||||||
|
Series A, 5.00%, 12/01/28 (Call 12/01/26) |
140 | 147,873 | ||||||
|
|
|
|||||||
| 10,615,986 | ||||||||
| West Virginia — 0.5% | ||||||||
|
School Building Authority of West Virginia RB, Series A, 5.00%, 07/01/26 (Call 07/01/24) |
145 | 149,187 | ||||||
|
State of West Virginia GO |
||||||||
|
5.00%, 06/01/26 |
150 | 158,268 | ||||||
|
5.00%, 12/01/26 |
110 | 116,817 | ||||||
|
Series A, 0.00%, 11/01/26 (NPFGC)(b) |
100 | 86,573 | ||||||
|
Series B, 5.00%, 12/01/26 |
130 | 138,056 | ||||||
|
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/26 |
255 | 268,523 | ||||||
|
West Virginia Parkways Authority RB, 5.00%, 06/01/26 |
155 | 162,529 | ||||||
|
|
|
|||||||
| 1,079,953 | ||||||||
| Wisconsin — 1.8% | ||||||||
|
State of Wisconsin Environmental Improvement Fund Revenue RB, Series A, 5.00%, 06/01/26 |
210 | 221,938 | ||||||
|
State of Wisconsin GO 4.00%, 05/01/26 (Call 05/01/24) |
100 | 101,086 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
83 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2026 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Wisconsin (continued) | ||||||||
|
5.00%, 11/01/26 |
$ | 480 | $ | 511,251 | ||||
|
Series 1, 4.00%, 11/01/26 (Call 05/01/25) |
190 | 193,346 | ||||||
|
Series 1, 5.00%, 05/01/26 |
75 | 79,328 | ||||||
|
Series 1, 5.00%, 11/01/26 (Call 05/01/25) |
380 | 395,230 | ||||||
|
Series 2, 5.00%, 11/01/26 |
350 | 372,788 | ||||||
|
Series 3, 5.00%, 11/01/26 |
110 | 117,162 | ||||||
|
Series 4, 5.00%, 05/01/26 (Call 11/01/24) |
30 | 30,992 | ||||||
|
State of Wisconsin RB |
||||||||
|
Series A, 5.00%, 05/01/26 |
450 | 474,141 | ||||||
|
Series B, 5.00%, 05/01/28 (Call 05/01/26) |
235 | 246,262 | ||||||
|
Wisconsin Department of Transportation RB |
||||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
300 | 316,347 | ||||||
|
5.00%, 07/01/28 (Call 07/01/26) |
145 | 152,238 | ||||||
|
Series 1, 5.00%, 07/01/26 (Call 07/01/25) |
290 | 301,956 | ||||||
|
Series 2, 5.00%, 07/01/26 |
185 | 195,800 | ||||||
|
WPPI Energy RB, Series A, 5.00%, 07/01/26 (Call 07/01/24) |
35 | 35,623 | ||||||
|
|
|
|||||||
| 3,745,488 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 98.5% |
208,050,686 | |||||||
|
|
|
|||||||
| Security | Shares (000) |
Value | ||||||
| Short-Term Securities | ||||||||
| Money Market Funds — 0.6% | ||||||||
|
BlackRock Liquidity Funds: MuniCash, 1.83%(c)(d) |
1,315 | $ | 1,314,764 | |||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.6% |
1,314,764 | |||||||
|
|
|
|||||||
|
Total
Investments — 99.1% |
209,365,450 | |||||||
|
Other Assets Less Liabilities — 0.9% |
1,967,984 | |||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 211,333,434 | ||||||
|
|
|
|||||||
| (a) |
Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
| (b) |
Zero-coupon bond. |
| (c) |
Affiliate of the Fund. |
| (d) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 604,744 | $ | 709,748 | (a) | $ | — | $ | 278 | $ | (6 | ) | $ | 1,314,764 | 1,315 | $ | 7,240 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 208,050,686 | $ | — | $ | 208,050,686 | ||||||||
|
Money Market Funds |
1,314,764 | — | — | 1,314,764 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,314,764 | $ | 208,050,686 | $ | — | $ | 209,365,450 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
| 84 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
| Alabama — 1.5% | ||||||||
|
Alabama Federal Aid Highway Finance Authority RB |
||||||||
|
Series A, 5.00%, 09/01/27 |
$ | 135 | $ | 145,139 | ||||
|
Series A, 5.00%, 09/01/29 (PR 09/01/27) |
100 | 107,510 | ||||||
|
Alabama Highway Finance Corp. RB, 5.00%, 08/01/27 |
130 | 138,673 | ||||||
|
Alabama Public School and College Authority RB, Series A, 5.00%, 11/01/27 |
930 | 1,001,537 | ||||||
|
City of Huntsville AL, 5.00%, 11/01/27 (CALL 05/01/27) |
100 | 106,978 | ||||||
|
City of Huntsville AL GOL |
||||||||
|
5.00%, 05/01/27 (Call 05/01/26) |
80 | 84,435 | ||||||
|
Series A, 5.00%, 05/01/28 (Call 11/01/27) |
60 | 64,587 | ||||||
|
State of Alabama GO |
||||||||
|
5.00%, 11/01/27 |
170 | 183,158 | ||||||
|
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
185 | 195,973 | ||||||
|
University of Alabama (The), 5.00%, 07/01/27 |
60 | 64,129 | ||||||
|
Water Works Board of the City of Birmingham (The) RB |
||||||||
|
Series B, 5.00%, 01/01/32 (PR 01/01/27) |
200 | 212,376 | ||||||
|
Series B, 5.00%, 01/01/43 (PR 01/01/27) |
250 | 265,470 | ||||||
|
|
|
|||||||
| 2,569,965 | ||||||||
| Alaska — 0.1% | ||||||||
|
State of Alaska GO, 5.00%, 08/01/27 |
135 | 144,312 | ||||||
|
|
|
|||||||
| Arizona — 1.5% | ||||||||
|
Arizona Department of Transportation State Highway Fund Revenue, 5.00%, 07/01/27 (Call 07/01/26) |
300 | 317,408 | ||||||
|
Arizona State University RB, Series B, 5.00%, 07/01/30 (Call 07/01/27) |
150 | 159,039 | ||||||
|
City of Chandler AZ GOL, 5.00%, 07/01/27 |
85 | 90,963 | ||||||
|
City of Phoenix AZ GO, 5.00%, 07/01/27 (Call 07/01/26) |
435 | 460,241 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/27 |
150 | 159,856 | ||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
260 | 274,239 | ||||||
|
Series D, 5.00%, 07/01/29 (CALL 07/01/27) |
235 | 246,541 | ||||||
|
Maricopa County Unified School District No. 48 Scottsdale GO, 5.00%, 07/01/28 (Call 07/01/27) |
40 | 42,770 | ||||||
|
Maricopa County Union High School District No. 210-Phoenix GO, 5.00%, 07/01/27 |
110 | 117,472 | ||||||
|
Salt River Project Agricultural Improvement & Power District, 5.00%, 01/01/27 |
165 | 175,804 | ||||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/27 |
55 | 58,601 | ||||||
|
Series A, 5.00%, 01/01/27 |
210 | 223,751 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 01/01/27) |
190 | 202,441 | ||||||
|
State of Arizona COP, Series A, 5.00%, 10/01/27 |
115 | 123,769 | ||||||
|
|
|
|||||||
| 2,652,895 | ||||||||
| California — 13.3% | ||||||||
|
Anaheim Housing & Public Improvements Authority RB, 5.00%, 10/01/27 |
215 | 231,494 | ||||||
|
Bay Area Toll Authority RB, 4.00%, 04/01/29 (Call 04/01/27) |
570 | 582,968 | ||||||
|
California Health Facilities Financing Authority RB, 5.00%, 11/01/27 |
780 | 842,610 | ||||||
|
California Infrastructure & Economic Development Bank RB |
||||||||
|
5.00%, 10/01/27 (Call 04/01/27) |
50 | 53,771 | ||||||
|
5.00%, 10/01/28 (Call 04/01/27) |
185 | 198,799 | ||||||
|
California State Public Works Board RB |
||||||||
|
5.00%, 09/01/29 (Call 09/01/27) |
265 | 284,320 | ||||||
|
5.00%, 10/01/30 (CALL 10/01/27) |
150 | 160,805 | ||||||
|
Series C, 5.00%, 03/01/28 (Call 03/01/27) |
320 | 341,458 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Series G, 5.00%, 10/01/31 (Call 10/01/27) |
$ | 235 | $ | 251,598 | ||||
|
California State University RB |
||||||||
|
5.00%, 11/01/29 (Call 05/01/27) |
245 | 262,437 | ||||||
|
Series A, 5.00%, 11/01/27 (Call 11/01/25) |
95 | 99,748 | ||||||
|
Series A, 5.00%, 11/01/27 (Call 05/01/26) |
410 | 433,443 | ||||||
|
Series A, 5.00%, 11/01/30 (Call 05/01/27) |
205 | 219,374 | ||||||
|
Carlsbad Unified School District GO, 5.00%, 08/01/27 (Call 08/01/26) |
200 | 211,791 | ||||||
|
City of Foster City CA GO, 4.00%, 08/01/30 (Call 08/01/27) |
100 | 102,836 | ||||||
|
City of Los Angeles CA Wastewater System Revenue RB, Series B, 5.00%, 06/01/27 |
275 | 295,687 | ||||||
|
City of Los Angeles Department of Airports RB |
||||||||
|
5.00%, 05/15/27 |
170 | 181,866 | ||||||
|
Series C, 5.00%, 05/15/27 |
250 | 267,232 | ||||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB |
||||||||
|
5.00%, 11/01/27 |
125 | 134,974 | ||||||
|
5.00%, 11/01/27 (Call 05/01/25) |
50 | 52,184 | ||||||
|
5.00%, 11/01/27 (Call 11/01/26) |
250 | 266,210 | ||||||
|
Series D, 5.00%, 11/01/30 (Call 11/01/27) |
230 | 247,777 | ||||||
|
Coast Community College District GO, Series D, 5.00%, 08/01/28 (Call 08/01/27) |
120 | 129,264 | ||||||
|
Contra Costa Transportation Authority RB, Series A, 5.00%, 03/01/27 (Call 03/01/25) |
110 | 114,193 | ||||||
|
County of Santa Clara CA, 5.00%, 08/01/27 |
170 | 183,582 | ||||||
|
County of Santa Clara CA GO, Series C, 5.00%, 08/01/31 (Call 08/01/27) |
195 | 209,151 | ||||||
|
East Bay Municipal Utility District Wastewater System Revenue RB, Series A, 5.00%, 06/01/28 (Call 06/01/27) |
130 | 139,616 | ||||||
|
East Bay Municipal Utility District Water System Revenue RB, Series B, 5.00%, 06/01/27 |
60 | 64,461 | ||||||
|
El Camino Community College District Foundation (The), 0.00%, 08/01/27(a) |
200 | 168,502 | ||||||
|
Foothill-De Anza Community College District, 0.00%, 08/01/27 (NATL)(a) |
415 | 349,642 | ||||||
|
Los Angeles Community College District/CA GO |
||||||||
|
4.00%, 08/01/30 (Call 08/01/27) |
100 | 102,836 | ||||||
|
Series J, 5.00%, 08/01/28 (Call 08/01/27) |
100 | 107,857 | ||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
5.00%, 07/01/30 (CALL 07/01/27) |
140 | 150,177 | ||||||
|
Series A, 5.00%, 06/01/27 |
740 | 796,321 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
235 | 252,248 | ||||||
|
Los Angeles Department of Water & Power, 5.00%, 07/01/27 |
315 | 338,788 | ||||||
|
Los Angeles Department of Water & Power Power System Revenue RB, 5.00%, 07/01/31 (CALL 01/01/27) |
90 | 95,769 | ||||||
|
Los Angeles Department of Water & Power RB, 5.00%, 07/01/27 |
300 | 322,656 | ||||||
|
Los Angeles Department of Water & Power System Revenue RB, Series C, 5.00%, 07/01/28 (Call 07/01/27) |
270 | 290,162 | ||||||
|
Los Angeles Department of Water RB, Series A, 5.00%, 07/01/30 (Call 01/01/27) |
330 | 352,383 | ||||||
|
Los Angeles Unified School District/CA, 5.00%, 07/01/27 (Call 07/01/25) |
55 | 57,347 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
5.00%, 07/01/27 |
500 | 537,311 | ||||||
|
Series A, 5.00%, 07/01/27 |
315 | 338,506 | ||||||
|
Series B1, 5.00%, 07/01/27 |
195 | 209,551 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
485 | 521,626 | ||||||
|
Series C, 5.00%, 10/01/27 |
55 | 59,557 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
85 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Modesto Irrigation District RB, Series A, 5.00%, 10/01/27 (CALL 10/01/25) |
$ | 40 | $ | 41,867 | ||||
|
Mountain View Los Altos Union High School District/CA GO, Series C, 0.00%, 08/01/27(a) |
150 | 125,379 | ||||||
|
Municipal Improvement Corp. of Los Angeles RB, Series B, 5.00%, 11/01/27 (Call 11/01/26) |
225 | 239,241 | ||||||
|
Newport Mesa Unified School District GO, 0.00%, 08/01/27 (NPFGC)(a) |
215 | 179,627 | ||||||
|
Palo Alto Unified School District GO, 0.00%, 08/01/27(a) |
130 | 109,424 | ||||||
|
Riverside County Transportation Commission RB |
||||||||
|
5.00%, 06/01/31 (CALL 12/01/27) |
360 | 388,030 | ||||||
|
Series B, 5.00%, 06/01/28 (Call 12/01/27) |
120 | 129,885 | ||||||
|
Sacramento Municipal Utility District RB, 5.00%, 08/15/27 |
40 | 43,145 | ||||||
|
San Diego County Regional Airport Authority RB, 5.00%, 07/01/27 |
100 | 105,775 | ||||||
|
San Diego Unified School District/CA GO |
||||||||
|
5.00%, 07/01/30 (Call 07/01/27) |
185 | 199,195 | ||||||
|
Series J, 5.00%, 07/01/29 (Call 07/01/27) |
100 | 107,833 | ||||||
|
San Francisco Bay Area Rapid Transit District Sales Tax Revenue RB |
||||||||
|
5.00%, 07/01/29 (Call 07/01/27) |
190 | 203,521 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
100 | 107,116 | ||||||
|
San Francisco City & County Airport Commission San Francisco International Airport RB |
||||||||
|
5.00%, 05/01/27 (Call 05/01/26) |
140 | 146,911 | ||||||
|
Series D, 5.00%, 05/01/27 (Call 05/01/26) |
100 | 104,936 | ||||||
|
San Francisco County Transportation Authority Sales Tax Revenue RB, 4.00%, 02/01/29 (Call 02/01/27) |
180 | 184,940 | ||||||
|
San Jose Unified School District GO |
||||||||
|
5.00%, 08/01/27 |
150 | 161,985 | ||||||
|
Series C, 0.00%, 08/01/27 (NPFGC)(a) |
95 | 80,039 | ||||||
|
San Mateo County Community College District GO |
||||||||
|
Series A, 0.00%, 09/01/27 (NPFGC)(a) |
355 | 297,890 | ||||||
|
Series B, 0.00%, 09/01/27 (NPFGC)(a) |
100 | 84,152 | ||||||
|
San Mateo Union High School District GO, Series C, 0.00%, 09/01/27 (NPFGC)(a) |
170 | 141,105 | ||||||
|
Santa Monica Public Financing Authority RB, 5.00%, 07/01/31 (Call 07/01/27) |
65 | 69,456 | ||||||
|
Southern California Public Power Authority, 4.00%, 07/01/27 (Call 01/01/25) |
210 | 213,283 | ||||||
|
Southern California Public Power Authority RB, Series C, 5.00%, 07/01/27 (Call 01/01/25) |
85 | 88,168 | ||||||
|
State of California, 4.00%, 09/01/27 |
200 | 205,785 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
Series AX, 5.00%, 12/01/31 (Call 12/01/27) |
130 | 140,408 | ||||||
|
Series BB, 5.00%, 12/01/27 |
105 | 113,802 | ||||||
|
State of California GO |
||||||||
|
4.00%, 08/01/27 (Call 08/01/26) |
45 | 46,012 | ||||||
|
5.00%, 04/01/27 |
225 | 240,424 | ||||||
|
5.00%, 08/01/27 |
350 | 375,569 | ||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
205 | 217,160 | ||||||
|
5.00%, 10/01/27 |
230 | 247,321 | ||||||
|
5.00%, 11/01/27 |
880 | 947,271 | ||||||
|
5.00%, 12/01/27 |
310 | 334,028 | ||||||
|
5.00%, 08/01/28 (Call 08/01/27) |
385 | 412,793 | ||||||
|
5.00%, 11/01/28 (Call 11/01/27) |
365 | 392,559 | ||||||
|
5.00%, 08/01/29 (Call 08/01/27) |
345 | 369,617 | ||||||
|
5.00%, 08/01/30 (Call 08/01/27) |
1,030 | 1,101,262 | ||||||
|
5.00%, 11/01/30 (Call 11/01/27) |
255 | 273,374 | ||||||
|
5.00%, 11/01/31 (Call 11/01/27) |
320 | 342,266 | ||||||
| Security | Par (000) |
Value | ||||||
| California (continued) | ||||||||
|
Series C, 5.00%, 08/01/27 (Call 08/01/26) |
$ | 280 | $ | 296,608 | ||||
|
University of California, 5.00%, 05/15/27 |
100 | 107,285 | ||||||
|
University of California RB |
||||||||
|
5.00%, 05/15/29 (Call 05/15/27) |
125 | 134,121 | ||||||
|
5.00%, 05/15/30 (CALL 05/15/27) |
285 | 305,394 | ||||||
|
Series AO, 5.00%, 05/15/27 (Call 05/15/25) |
35 | 36,523 | ||||||
|
Series AY, 5.00%, 05/15/30 (Call 05/15/27) |
550 | 589,357 | ||||||
|
Series I, 5.00%, 05/15/27 (Call 05/15/25) |
280 | 291,909 | ||||||
|
West Valley-Mission Community College District GO, Series B, 5.00%, 08/01/27 (Call 08/01/25) |
75 | 78,575 | ||||||
|
Western Municipal Water District Facilities Authority RB, 5.00%, 10/01/27 |
175 | 189,086 | ||||||
|
|
|
|||||||
| 22,956,300 | ||||||||
| Colorado — 0.9% | ||||||||
|
Adams & Arapahoe Joint School District 28J Aurora, 5.00%, 12/01/27 (SAW) |
150 | 161,772 | ||||||
|
City & County of Denver Co. Airport System Revenue RB |
||||||||
|
5.00%, 11/15/27 |
100 | 106,358 | ||||||
|
Series B, 5.00%, 12/01/27 |
45 | 47,710 | ||||||
|
City & County of Denver Co. GO, 5.00%, 08/01/27 |
55 | 59,093 | ||||||
|
City of Colorado Springs Co. Utilities System Revenue RB, 5.00%, 11/15/27 |
300 | 323,226 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/27 |
200 | 207,996 | ||||||
|
Denver City & County School District No. 1, 5.50%, 12/01/28 (Call 12/01/27) (SAW) |
185 | 203,629 | ||||||
|
Denver City & County School District No. 1 GO, Series B, 4.00%, 12/01/27 (SAW) |
200 | 206,320 | ||||||
|
State of Colorado COP, Series K, 5.00%, 03/15/27 |
175 | 185,862 | ||||||
|
|
|
|||||||
| 1,501,966 | ||||||||
| Connecticut — 1.6% | ||||||||
|
City of Danbury CT GO, 5.00%, 11/01/27 (CALL 11/01/26) |
50 | 53,082 | ||||||
|
State of Connecticut Clean Water Fund - State Revolving Fund RB, Series A, 5.00%, 05/01/29 (Call 05/01/27) |
155 | 165,491 | ||||||
|
State of Connecticut GO |
||||||||
|
4.00%, 06/01/27 |
50 | 50,765 | ||||||
|
5.00%, 08/15/27 (Call 08/15/26) |
225 | 237,732 | ||||||
|
Series 2021 A, 4.00%, 01/15/27 |
105 | 106,493 | ||||||
|
Series A, 5.00%, 04/15/29 (Call 04/15/27) |
325 | 344,867 | ||||||
|
Series B, 4.00%, 06/01/27 |
210 | 213,213 | ||||||
|
Series B, 5.00%, 06/15/27 (Call 06/15/25) |
185 | 192,396 | ||||||
|
Series F, 5.00%, 11/15/27 (Call 11/15/25) |
180 | 188,251 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
5.00%, 09/01/27 (Call 09/01/26) |
185 | 195,647 | ||||||
|
Series A, 5.00%, 01/01/27 |
105 | 111,414 | ||||||
|
Series A, 5.00%, 05/01/27 |
410 | 437,524 | ||||||
|
Series B, 5.00%, 10/01/27 |
135 | 144,787 | ||||||
|
Series D, 5.00%, 11/01/27 |
200 | 214,717 | ||||||
|
University of Connecticut, 5.00%, 11/01/27 |
65 | 69,629 | ||||||
|
|
|
|||||||
| 2,726,008 | ||||||||
| Delaware — 0.8% | ||||||||
|
County of New Castle, 5.00%, 04/01/27 |
100 | 106,897 | ||||||
|
Delaware Transportation Authority RB |
||||||||
|
5.00%, 07/01/27 |
220 | 235,925 | ||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
65 | 68,726 | ||||||
|
State of Delaware, 5.00%, 02/01/27 |
150 | 160,303 | ||||||
|
State of Delaware GO |
||||||||
|
Series A, 5.00%, 01/01/27 |
500 | 533,743 | ||||||
|
Series D, 5.00%, 07/01/27 (Call 07/01/26) |
260 | 275,455 | ||||||
|
|
|
|||||||
| 1,381,049 | ||||||||
| 86 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| District of Columbia — 1.9% | ||||||||
|
District of Columbia GO |
||||||||
|
Series A, 5.00%, 10/15/27 |
$ | 100 | $ | 107,631 | ||||
|
Series D, 5.00%, 06/01/27 |
535 | 573,127 | ||||||
|
Series E, 5.00%, 02/01/27 |
345 | 367,990 | ||||||
|
Series E, 5.00%, 06/01/27 (Call 12/01/26) |
290 | 307,745 | ||||||
|
District of Columbia RB |
||||||||
|
Series A, 5.00%, 03/01/27 |
245 | 261,408 | ||||||
|
Series B, 5.00%, 10/01/27 |
305 | 327,826 | ||||||
|
Series C, 5.00%, 05/01/27 |
50 | 53,464 | ||||||
|
Series C, 5.00%, 10/01/27 |
410 | 440,684 | ||||||
|
District of Columbia Water & Sewer Authority RB |
||||||||
|
Series A, 5.00%, 10/01/27 (Call 10/01/25) |
115 | 120,545 | ||||||
|
Series B, 5.00%, 10/01/27 |
50 | 53,789 | ||||||
|
Metropolitan Washington Airports Authority Aviation Revenue RB, 5.00%, 10/01/27 |
135 | 143,404 | ||||||
|
Washington Metropolitan Area Transit Authority RB |
||||||||
|
5.00%, 07/01/27 |
55 | 58,883 | ||||||
|
Series A, 5.00%, 07/15/27 |
320 | 342,754 | ||||||
|
Series A-1, 5.00%, 07/01/29 (Call 07/01/27) |
120 | 127,898 | ||||||
|
|
|
|||||||
| 3,287,148 | ||||||||
| Florida — 2.3% | ||||||||
|
Broward County FL Water & Sewer Utility Revenue RB, 5.00%, 10/01/27 (Call 10/01/25) |
180 | 187,660 | ||||||
|
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/27 (Call 10/01/26) |
150 | 155,845 | ||||||
|
County of Miami-Dade FL GO, Series A, 5.00%, 07/01/27 |
100 | 106,659 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB, Series B, 5.00%, 10/01/27 |
170 | 180,190 | ||||||
|
Florida Department of Environmental Protection RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
185 | 197,731 | ||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/26) |
150 | 158,439 | ||||||
|
Florida Department of Management Services RB, Series A, 3.00%, 09/01/31 (Call 09/01/27) |
100 | 91,797 | ||||||
|
Hillsborough County Aviation Authority RB, 5.00%, 10/01/27 |
200 | 212,451 | ||||||
|
Hillsborough County School Board COP, Series B, 5.00%, 07/01/27 |
30 | 31,405 | ||||||
|
Orlando Utilities Commission RB, 5.00%, 10/01/27 |
200 | 213,565 | ||||||
|
Palm Beach County School District, 5.00%, 08/01/27 |
200 | 211,726 | ||||||
|
Palm Beach County School District COP |
||||||||
|
Series A, 5.00%, 08/01/27 |
105 | 111,156 | ||||||
|
Series B, 5.00%, 08/01/27 |
115 | 121,742 | ||||||
|
School Board of Miami-Dade County (The), 5.00%, 05/01/27 (Call 05/01/25) (AGM) |
175 | 181,291 | ||||||
|
School Board of Miami-Dade County (The) GO, 5.00%, 03/15/27 |
65 | 69,035 | ||||||
|
School District of Broward County/FL GO, 5.00%, 07/01/27 |
70 | 74,848 | ||||||
|
State of Florida, 5.00%, 07/01/27 |
165 | 176,870 | ||||||
|
State of Florida Department of Transportation RB, 5.00%, 07/01/27 |
100 | 107,104 | ||||||
|
State of Florida Department of Transportation Turnpike System RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
275 | 294,660 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
60 | 64,056 | ||||||
|
State of Florida GO |
||||||||
|
5.00%, 07/01/28 (CALL 07/01/27) |
255 | 273,471 | ||||||
|
Series A, 5.00%, 07/01/27 |
60 | 64,316 | ||||||
|
Series B, 5.00%, 06/01/30 (Call 06/01/27) |
75 | 80,014 | ||||||
|
Series C, 5.00%, 06/01/27 |
125 | 133,908 | ||||||
|
Series D, 5.00%, 06/01/27 |
90 | 96,414 | ||||||
| Security | Par (000) |
Value | ||||||
| Florida (continued) | ||||||||
|
State of Florida Lottery Revenue RB |
||||||||
|
5.00%, 07/01/27 (CALL 07/01/26) |
$ | 150 | $ | 158,332 | ||||
|
Series A, 5.00%, 07/01/27 |
163 | 174,072 | ||||||
|
|
|
|||||||
| 3,928,757 | ||||||||
| Georgia — 2.4% | ||||||||
|
City of Atlanta GA, 5.00%, 12/01/27 |
60 | 64,706 | ||||||
|
City of Atlanta GA Department of Aviation RB |
||||||||
|
5.00%, 07/01/27 |
100 | 105,951 | ||||||
|
Series A, 5.00%, 07/01/27 |
195 | 206,605 | ||||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
Series A, 5.00%, 11/01/31 (Call 11/01/27) |
125 | 132,696 | ||||||
|
Series B, 5.00%, 11/01/29 (Call 11/01/27) |
120 | 128,444 | ||||||
|
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
215 | 230,722 | ||||||
|
County of Columbia GA GO, 5.00%, 01/01/27 |
20 | 21,358 | ||||||
|
Georgia Ports Authority RB, 5.00%, 07/01/27 |
700 | 750,669 | ||||||
|
Georgia State Road & Tollway Authority RB, 5.00%, 06/01/27 |
370 | 394,423 | ||||||
|
Gwinnett County Water & Sewerage Authority RB, 5.00%, 08/01/27 |
500 | 537,893 | ||||||
|
Metropolitan Atlanta Rapid Transit Authority RB |
||||||||
|
Series A, 5.25%, 07/01/27 (NPFGC) |
100 | 107,862 | ||||||
|
Series D, 4.00%, 07/01/27 |
80 | 82,186 | ||||||
|
State of Georgia GO |
||||||||
|
5.00%, 07/01/28 (Call 01/01/27) |
665 | 709,416 | ||||||
|
5.00%, 02/01/29 (Call 02/01/27) |
100 | 106,758 | ||||||
|
Series A, 5.00%, 02/01/27 (Call 02/01/26) |
55 | 57,951 | ||||||
|
Series A, 5.00%, 08/01/27 |
135 | 145,293 | ||||||
|
Series C, 5.00%, 07/01/29 (Call 07/01/27) |
225 | 241,514 | ||||||
|
Series F, 5.00%, 07/01/27 (Call 01/01/27) |
95 | 101,417 | ||||||
|
|
|
|||||||
| 4,125,864 | ||||||||
| Hawaii — 1.9% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
|
5.00%, 07/01/27 (CALL 07/01/26) |
315 | 332,165 | ||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/25) |
285 | 296,676 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
5.00%, 07/01/27 |
355 | 379,904 | ||||||
|
5.00%, 09/01/27 |
175 | 187,658 | ||||||
|
Series B, 5.00%, 10/01/27 (Call 10/01/25) |
100 | 104,510 | ||||||
|
Series C, 4.00%, 08/01/27 |
245 | 251,789 | ||||||
|
Series D, 5.00%, 09/01/31 (Call 09/01/27) |
135 | 143,896 | ||||||
|
County of Hawaii HI GO, 5.00%, 09/01/27 (Call 03/01/26) |
100 | 105,289 | ||||||
|
County of Maui HI, 5.00%, 03/01/27 |
135 | 144,153 | ||||||
|
State of Hawaii GO |
||||||||
|
5.00%, 10/01/27 |
205 | 220,342 | ||||||
|
Series FE, 5.00%, 10/01/27 (Call 10/01/26) |
445 | 472,241 | ||||||
|
Series FH, 5.00%, 10/01/27 (Call 10/01/26) |
120 | 127,346 | ||||||
|
Series FK, 5.00%, 05/01/28 (Call 05/01/27) |
150 | 160,264 | ||||||
|
Series FN, 5.00%, 10/01/30 (Call 10/01/27) |
305 | 326,113 | ||||||
|
|
|
|||||||
| 3,252,346 | ||||||||
| Idaho — 0.2% | ||||||||
|
Idaho Housing & Finance Association RB, Series A, 5.00%, 07/15/27 |
320 | 339,037 | ||||||
|
|
|
|||||||
| Illinois — 3.7% | ||||||||
|
Chicago O’Hare International Airport RB |
||||||||
|
Series A, 5.00%, 01/01/28 (Call 01/01/27) |
125 | 131,112 | ||||||
|
Series B, 5.00%, 01/01/27 (Call 01/01/25) |
175 | 179,707 | ||||||
|
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/27 |
100 | 103,047 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
87 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Illinois (continued) | ||||||||
|
Illinois Finance Authority RB |
||||||||
|
5.00%, 07/01/27 |
$ | 275 | $ | 294,169 | ||||
|
5.00%, 07/01/29 (Call 01/01/27) |
685 | 727,226 | ||||||
|
Illinois State Toll Highway Authority RB |
||||||||
|
Series A, 5.00%, 01/01/27 |
150 | 158,744 | ||||||
|
Series B, 5.00%, 01/01/27 |
375 | 396,860 | ||||||
|
Series B, 5.00%, 01/01/27 (Call 07/01/26) |
125 | 131,377 | ||||||
|
Metropolitan Water Reclamation District of Greater Chicago GO, 5.00%, 12/01/27 (CALL 12/01/26) |
175 | 185,708 | ||||||
|
Sales Tax Securitization Corp. RB, 5.00%, 01/01/27 |
140 | 145,299 | ||||||
|
State of Illinois, 5.00%, 02/01/27 |
145 | 145,926 | ||||||
|
State of Illinois GO |
||||||||
|
5.00%, 06/01/27 (Call 06/01/26) |
100 | 100,418 | ||||||
|
5.00%, 10/01/27 |
325 | 326,249 | ||||||
|
Series A, 5.00%, 03/01/27 |
160 | 160,979 | ||||||
|
Series A, 5.00%, 12/01/27 |
400 | 401,318 | ||||||
|
Series B, 5.00%, 03/01/27 |
255 | 256,560 | ||||||
|
Series B, 5.00%, 09/01/27 |
150 | 150,628 | ||||||
|
Series D, 5.00%, 11/01/27 |
1,115 | 1,118,898 | ||||||
|
Series D, 5.00%, 11/01/28 (Call 11/01/27) |
1,000 | 1,001,311 | ||||||
|
State of Illinois Sales Tax Revenue RB, Series C, 5.00%, 06/15/27 |
200 | 206,421 | ||||||
|
|
|
|||||||
| 6,321,957 | ||||||||
| Indiana — 0.9% | ||||||||
|
Indiana Finance Authority, 5.00%, 02/01/27 |
125 | 133,432 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 02/01/27 |
300 | 320,237 | ||||||
|
5.00%, 10/01/27 |
210 | 224,790 | ||||||
|
Series C, 5.00%, 06/01/27 (Call 12/01/26) |
380 | 404,445 | ||||||
|
Indiana University RB, 5.00%, 08/01/29 (CALL 08/01/27) |
165 | 176,474 | ||||||
|
Indianapolis Local Public Improvement Bond Bank RB, Series A, 5.00%, 01/15/29 (Call 01/15/27) |
325 | 344,009 | ||||||
|
|
|
|||||||
| 1,603,387 | ||||||||
| Iowa — 0.1% | ||||||||
|
City of Des Moines IA GO, 5.00%, 06/01/27 |
45 | 48,128 | ||||||
|
Iowa Finance Authority, 5.00%, 08/01/27 (Call 08/01/25) |
80 | 83,564 | ||||||
|
|
|
|||||||
| 131,692 | ||||||||
| Kansas — 0.6% | ||||||||
|
County of Johnson KS GO, 5.00%, 09/01/27 |
140 | 150,256 | ||||||
|
State of Kansas Department of Transportation, 5.00%, 09/01/30 (Call 09/01/27) |
150 | 160,039 | ||||||
|
State of Kansas Department of Transportation RB |
||||||||
|
5.00%, 09/01/27 (Call 09/01/25) |
475 | 495,586 | ||||||
|
Series A, 5.00%, 09/01/28 (Call 09/01/27) |
285 | 305,099 | ||||||
|
|
|
|||||||
| 1,110,980 | ||||||||
| Kentucky — 0.1% | ||||||||
|
Louisville/Jefferson County Metropolitan Government GO, Series A, 5.00%, 04/01/27 |
150 | 160,346 | ||||||
|
|
|
|||||||
| Louisiana — 0.7% | ||||||||
|
State of Louisiana, 5.00%, 10/01/29 (Call 10/01/27) |
190 | 204,419 | ||||||
|
State of Louisiana Gasoline & Fuels Tax Revenue RB, |
||||||||
|
Series B, 5.00%, 05/01/27 |
200 | 213,169 | ||||||
|
State of Louisiana GO |
||||||||
|
5.00%, 03/01/27 |
125 | 133,319 | ||||||
|
5.00%, 04/01/28 (Call 04/01/27) |
35 | 37,387 | ||||||
|
Series A, 5.00%, 03/01/27 |
165 | 175,502 | ||||||
|
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
280 | 295,164 | ||||||
|
Series B, 5.00%, 10/01/27 |
95 | 101,709 | ||||||
| Security | Par (000) |
Value | ||||||
| Louisiana (continued) | ||||||||
|
State of Louisiana RB, 5.00%, 09/01/27 |
$ | 110 | $ | 118,007 | ||||
|
|
|
|||||||
| 1,278,676 | ||||||||
| Maine — 0.7% | ||||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
5.00%, 11/01/27 |
455 | 487,833 | ||||||
|
5.00%, 11/01/27 (Call 11/01/26) |
200 | 211,943 | ||||||
|
State of Maine, 5.00%, 06/01/27 |
500 | 534,974 | ||||||
|
|
|
|||||||
| 1,234,750 | ||||||||
| Maryland — 5.0% | ||||||||
|
City of Baltimore MD GO, Series A, 5.00%, 10/15/27 |
120 | 129,044 | ||||||
|
City of Baltimore MD RB, Series B, 5.00%, 07/01/31 (Call 01/01/27) |
100 | 105,375 | ||||||
|
County of Anne Arundel MD, 5.00%, 04/01/27 |
250 | 267,561 | ||||||
|
County of Anne Arundel MD GOL |
||||||||
|
5.00%, 04/01/27 |
200 | 214,049 | ||||||
|
5.00%, 10/01/27 |
130 | 140,035 | ||||||
|
5.00%, 10/01/29 (Call 10/01/27) |
220 | 236,489 | ||||||
|
County of Baltimore MD GO |
||||||||
|
5.00%, 03/01/27 |
105 | 112,251 | ||||||
|
5.00%, 08/01/27 |
215 | 231,098 | ||||||
|
County of Charles MD GO, 5.00%, 10/01/27 |
100 | 107,719 | ||||||
|
County of Howard MD, 5.00%, 02/15/27 |
650 | 694,469 | ||||||
|
County of Howard MD GO, Series B, 5.00%, 02/15/28 (Call 02/15/27) |
310 | 330,853 | ||||||
|
County of Montgomery MD GO |
||||||||
|
4.00%, 11/01/27 |
420 | 432,331 | ||||||
|
4.00%, 11/01/28 (CALL 11/01/27) |
55 | 56,565 | ||||||
|
5.00%, 08/01/27 |
120 | 128,985 | ||||||
|
Series A, 5.00%, 11/01/27 |
195 | 210,279 | ||||||
|
Series C, 5.00%, 10/01/27 |
150 | 161,578 | ||||||
|
County
of Prince George’s MD GOL, |
640 | 687,527 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
4.00%, 09/01/27 |
85 | 87,197 | ||||||
|
5.00%, 10/01/27 |
330 | 354,697 | ||||||
|
5.00%, 10/01/27 (Call 10/01/26) |
245 | 259,840 | ||||||
|
5.00%, 12/01/27 |
65 | 70,007 | ||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
100 | 105,973 | ||||||
|
5.00%, 09/01/28 (Call 09/01/27) |
290 | 310,853 | ||||||
|
5.00%, 09/01/30 (Call 09/01/27) |
325 | 346,751 | ||||||
|
Series A, 5.00%, 10/01/27 |
105 | 112,858 | ||||||
|
State of Maryland GO |
||||||||
|
5.00%, 08/01/27 |
440 | 472,945 | ||||||
|
Second Series, 5.00%, 08/01/27 |
220 | 236,472 | ||||||
|
Series A, 5.00%, 03/15/27 |
355 | 379,711 | ||||||
|
Series A, 5.00%, 08/01/27 |
325 | 349,334 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 03/15/27) |
310 | 331,344 | ||||||
|
Series A, 5.00%, 08/01/28 (Call 08/01/27) |
150 | 161,101 | ||||||
|
Series A, 5.00%, 08/01/29 (CALL 08/01/27) |
460 | 493,658 | ||||||
|
Washington Suburban Sanitary Commission, 5.00%, 06/01/27 (GTD) |
75 | 80,444 | ||||||
|
Washington Suburban Sanitary Commission RB |
||||||||
|
3.00%, 06/01/27 (GTD) |
75 | 72,857 | ||||||
|
5.00%, 06/15/28 (Call 06/15/27) (GTD) |
105 | 112,543 | ||||||
|
|
|
|||||||
| 8,584,793 | ||||||||
| Massachusetts — 2.9% | ||||||||
|
City of Boston MA, 5.00%, 11/01/27 |
115 | 124,231 | ||||||
|
City of Boston MA GO |
||||||||
|
5.00%, 04/01/27 |
525 | 562,771 | ||||||
| 88 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Massachusetts (continued) | ||||||||
|
Series A, 5.00%, 05/01/27 |
$ | 90 | $ | 96,586 | ||||
|
Commonwealth of Massachusetts Federal Highway Grant Anticipation Note Revenue RB, Series A, 5.00%, 06/15/27 (Call 06/15/26) |
100 | 105,575 | ||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
5.00%, 01/01/27 |
185 | 196,743 | ||||||
|
5.00%, 09/01/27 |
510 | 546,890 | ||||||
|
Series B, 5.00%, 07/01/27 |
120 | 128,418 | ||||||
|
Series C, 5.00%, 05/01/27 |
235 | 250,979 | ||||||
|
Series D, 5.00%, 07/01/27 |
80 | 85,612 | ||||||
|
Series E, 5.00%, 11/01/27 |
180 | 193,417 | ||||||
|
Series G, 5.00%, 09/01/27 |
230 | 246,637 | ||||||
|
Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 5.00%, 06/01/30 (Call 12/01/27) |
100 | 107,161 | ||||||
|
Massachusetts Bay Transportation Authority RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
405 | 433,592 | ||||||
|
Series A-2, 5.00%, 07/01/28 (Call 07/01/27) |
110 | 117,625 | ||||||
|
Massachusetts Clean Water Trust (The) RB |
||||||||
|
5.00%, 02/01/27 |
720 | 769,747 | ||||||
|
5.25%, 08/01/27 |
20 | 21,688 | ||||||
|
Massachusetts School Building Authority RB, Series C, 5.00%, 08/15/27 (Call 08/15/25) |
245 | 255,567 | ||||||
|
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue, 5.00%, 01/01/27 |
200 | 211,897 | ||||||
|
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue RB, 5.00%, 01/01/27 |
305 | 324,361 | ||||||
|
Massachusetts Water Resources Authority RB, Series B, 5.00%, 08/01/29 (Call 08/01/27) |
135 | 144,266 | ||||||
|
University of Massachusetts Building Authority RB, 5.00%, 11/01/27 |
60 | 64,615 | ||||||
|
|
|
|||||||
| 4,988,378 | ||||||||
| Michigan — 1.2% | ||||||||
|
Michigan Finance Authority RB, 5.00%, 12/01/28 (CALL 06/01/27) |
265 | 281,242 | ||||||
|
Michigan State Building Authority, 5.00%, 04/15/27 (Call 10/15/25) |
175 | 182,412 | ||||||
|
Michigan State Building Authority RB, 5.00%, 10/15/27 |
345 | 368,401 | ||||||
|
State of Michigan, 5.00%, 05/01/27 |
85 | 91,110 | ||||||
|
State of Michigan RB, 5.00%, 03/15/27 |
270 | 287,661 | ||||||
|
State of Michigan Trunk Line Revenue RB, Series B, 5.00%, 11/15/27 |
430 | 462,671 | ||||||
|
University of Michigan RB, Series A, 5.00%, 04/01/29 (Call 04/01/27) |
110 | 117,274 | ||||||
|
Wayne County Airport Authority RB, 5.00%, 12/01/27 (CALL 12/01/25) |
200 | 207,448 | ||||||
|
|
|
|||||||
| 1,998,219 | ||||||||
| Minnesota — 1.2% | ||||||||
|
County of Hennepin MN GO, 5.00%, 12/01/27 |
230 | 246,383 | ||||||
|
State of Minnesota, 5.00%, 08/01/27 |
280 | 300,837 | ||||||
|
State of Minnesota GO |
||||||||
|
5.00%, 08/01/27 |
345 | 370,675 | ||||||
|
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
160 | 172,204 | ||||||
|
Series A, 5.00%, 10/01/31 (Call 10/01/27) |
130 | 139,304 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
100 | 107,627 | ||||||
|
Series D, 5.00%, 08/01/27 (Call 08/01/26) |
265 | 280,882 | ||||||
|
Series D, 5.00%, 10/01/27 |
160 | 172,275 | ||||||
|
University of Minnesota, 5.00%, 12/01/27 |
65 | 69,912 | ||||||
| Security | Par (000) |
Value | ||||||
| Minnesota (continued) | ||||||||
|
University of Minnesota RB, Series B, 5.00%, 12/01/29 (Call 12/01/27) |
$ | 140 | $ | 149,704 | ||||
|
|
|
|||||||
| 2,009,803 | ||||||||
| Mississippi — 0.4% | ||||||||
|
State of Mississippi GO |
||||||||
|
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
225 | 241,317 | ||||||
|
Series A, 5.00%, 10/01/32 (PR 10/01/27) |
325 | 349,780 | ||||||
|
Series C, 5.00%, 10/01/27 (PR 10/01/25) |
90 | 94,314 | ||||||
|
|
|
|||||||
| 685,411 | ||||||||
| Missouri — 0.4% | ||||||||
|
Metropolitan St Louis Sewer District RB, Series A, 5.00%, 05/01/28 (Call 05/01/27) |
210 | 224,293 | ||||||
|
Missouri State Board of Public Buildings GO, 5.00%, 10/01/27 |
405 | 432,281 | ||||||
|
Missouri State Environmental Improvement & Energy Resources Authority RB, 5.00%, 01/01/27 (Call 07/01/25) |
45 | 46,914 | ||||||
|
|
|
|||||||
| 703,488 | ||||||||
| Montana — 0.1% | ||||||||
|
State of Montana, 5.00%, 08/01/27 |
225 | 242,052 | ||||||
|
|
|
|||||||
| Nebraska — 0.7% | ||||||||
|
City of Lincoln NE Electric System Revenue RB, 5.00%, 09/01/27 (Call 03/01/27) |
335 | 356,760 | ||||||
|
Nebraska
Public Power District RB |
100 | 105,829 | ||||||
|
Series A, 5.00%, 01/01/27 (Call 01/01/26) |
135 | 141,027 | ||||||
|
Series B, 5.00%, 01/01/28 (Call 01/01/27) |
50 | 52,721 | ||||||
|
Omaha Public Power District, 5.00%, 02/01/27 (Call 02/01/26) . |
400 | 420,670 | ||||||
|
Omaha Public Power District RB, Series A, 5.00%, 02/01/30 (Call 12/01/27) |
90 | 96,814 | ||||||
|
University of Nebraska Facilities Corp. RB, 5.00%, 07/15/27 |
100 | 107,471 | ||||||
|
|
|
|||||||
| 1,281,292 | ||||||||
| Nevada — 2.0% | ||||||||
|
Clark County School District, 5.00%, 06/15/27 (Call 12/15/25) |
180 | 187,881 | ||||||
|
Clark County School District GOL |
||||||||
|
5.00%, 06/15/27 |
125 | 132,324 | ||||||
|
Series C, 5.00%, 06/15/27 (Call 12/15/25) |
215 | 223,768 | ||||||
|
County of Clark NV, 5.00%, 07/01/27 |
150 | 159,856 | ||||||
|
County of Clark NV GOL |
||||||||
|
4.00%, 11/01/31 (Call 11/01/27) |
160 | 162,016 | ||||||
|
5.00%, 06/01/27 |
25 | 26,727 | ||||||
|
5.00%, 11/01/27 |
240 | 257,889 | ||||||
|
Series B, 5.00%, 11/01/27 (Call 11/01/26) |
75 | 79,681 | ||||||
|
County of Clark NV Passenger Facility Charge RB, Series C, |
||||||||
|
5.00%, 07/01/27 |
160 | 169,522 | ||||||
|
County of Clark NV RB |
||||||||
|
5.00%, 07/01/27 |
440 | 469,310 | ||||||
|
5.00%, 07/01/30 (Call 07/01/27) |
50 | 53,241 | ||||||
|
County of Washoe NV RB, 5.00%, 02/01/27 |
35 | 37,048 | ||||||
|
Las Vegas Valley Water District GO, 5.00%, 06/01/27 |
140 | 149,731 | ||||||
|
Las Vegas Valley Water District GOL |
||||||||
|
5.00%, 02/01/29 (Call 02/01/27) |
60 | 63,778 | ||||||
|
Series A, 5.00%, 06/01/27 (Call 06/01/25) |
55 | 57,202 | ||||||
|
State of Nevada GOL |
||||||||
|
5.00%, 08/01/27 |
150 | 161,026 | ||||||
|
Series D, 5.00%, 04/01/27 (Call 04/01/25) |
345 | 358,060 | ||||||
|
State of Nevada Highway Improvement Revenue RB |
||||||||
|
5.00%, 12/01/27 |
100 | 107,316 | ||||||
|
5.00%, 12/01/27 (Call 06/01/26) |
465 | 489,506 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
89 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Nevada (continued) | ||||||||
|
Washoe County School District/NV GOL, 5.00%, 04/01/27 |
$ | 100 | $ | 106,137 | ||||
|
|
|
|||||||
| 3,452,019 | ||||||||
| New Hampshire — 0.2% | ||||||||
|
State of New Hampshire GO |
||||||||
|
Series B, 4.00%, 12/01/30 (Call 12/01/27) |
120 | 122,887 | ||||||
|
Series D, 5.00%, 12/01/27 |
215 | 231,769 | ||||||
|
|
|
|||||||
| 354,656 | ||||||||
| New Jersey — 2.1% | ||||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/27 |
65 | 67,599 | ||||||
|
New Jersey Economic Development Authority RB |
||||||||
|
5.00%, 06/15/27 |
70 | 72,622 | ||||||
|
Series A, 4.00%, 11/01/27 (SAP) |
255 | 253,438 | ||||||
|
Series A, 5.00%, 11/01/27 |
145 | 150,797 | ||||||
|
New Jersey Educational Facilities Authority, 5.00%, 07/01/27 |
155 | 166,705 | ||||||
|
New Jersey Educational Facilities Authority RB, 5.00%, 03/01/27 |
470 | 503,239 | ||||||
|
New Jersey Transportation Trust Fund Authority RB, Series B, 5.00%, 06/15/27 |
510 | 529,104 | ||||||
|
New Jersey Turnpike Authority RB |
||||||||
|
5.00%, 01/01/27 |
190 | 201,454 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 01/01/27) |
210 | 221,102 | ||||||
|
Series A, 5.25%, 01/01/27 (AGM) |
350 | 374,888 | ||||||
|
State of New Jersey GO |
||||||||
|
5.00%, 06/01/27 |
10 | 10,603 | ||||||
|
5.00%, 06/01/27 (Call 06/01/25) |
45 | 46,583 | ||||||
|
Series A, 5.00%, 06/01/27 |
1,025 | 1,086,857 | ||||||
|
|
|
|||||||
| 3,684,991 | ||||||||
| New Mexico — 0.3% | ||||||||
|
New Mexico Finance Authority RB |
||||||||
|
5.00%, 06/01/27 |
100 | 106,907 | ||||||
|
Series A, 5.00%, 06/01/27 |
35 | 37,418 | ||||||
|
State of New Mexico GO, 5.00%, 03/01/27 |
150 | 160,170 | ||||||
|
State of New Mexico Severance Tax Permanent Fund RB, |
||||||||
|
5.00%, 07/01/27 |
285 | 305,247 | ||||||
|
|
|
|||||||
| 609,742 | ||||||||
| New York — 11.7% | ||||||||
|
City of New York |
||||||||
|
5.00%, 08/01/27 |
75 | 80,241 | ||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
90 | 95,264 | ||||||
|
City of New York NY, 5.00%, 11/01/27 |
440 | 472,169 | ||||||
|
City of New York NY GO |
||||||||
|
5.00%, 08/01/27 |
350 | 374,458 | ||||||
|
5.00%, 08/01/27 (Call 02/01/27) |
235 | 249,621 | ||||||
|
Series 1, 5.00%, 08/01/27 |
180 | 192,171 | ||||||
|
Series 1, 5.00%, 08/01/29 (Call 08/01/27) |
300 | 317,354 | ||||||
|
Series A, 5.00%, 08/01/27 |
295 | 314,947 | ||||||
|
Series A, 5.00%, 08/01/28 (Call 08/01/27) |
345 | 368,343 | ||||||
|
Series A-1, 5.00%, 08/01/27 |
200 | 213,976 | ||||||
|
Series C, 5.00%, 08/01/27 (Call 02/01/26) |
60 | 63,082 | ||||||
|
Series C, 5.00%, 08/01/28 (Call 02/01/27) |
215 | 228,123 | ||||||
|
County of Nassau NY GOL, 5.00%, 07/01/27 (AGM) |
400 | 424,864 | ||||||
|
Hudson Yards Infrastructure Corp. RB |
||||||||
|
Series A, 5.00%, 02/15/27 |
275 | 291,666 | ||||||
|
Series A, 5.00%, 02/15/29 (Call 02/15/27) |
190 | 200,376 | ||||||
|
Long Island Power Authority RB, Series A, 5.00%, 09/01/27 |
100 | 107,141 | ||||||
|
Metropolitan Transportation Authority, 5.00%, 11/15/27 (Call 11/15/26) |
100 | 105,163 | ||||||
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
Series A-2, 5.00%, 11/15/27 (Call 11/15/26) |
$ | 50 | $ | 50,679 | ||||
|
Series B-2, 5.00%, 11/15/27 (CALL 11/15/26) |
180 | 189,293 | ||||||
|
Series C-1, 5.00%, 11/15/27 |
250 | 255,572 | ||||||
|
Series C-1, 5.00%, 11/15/27 (Call 11/15/25) |
70 | 70,894 | ||||||
|
Series C-2, 0.00%, 11/15/27(a) |
375 | 301,223 | ||||||
|
Series D, 5.00%, 11/15/27 (Call 11/15/26) |
55 | 55,747 | ||||||
|
New York City Municipal Water Finance Authority RB |
||||||||
|
5.00%, 06/15/27 (Call 12/15/25) |
605 | 636,610 | ||||||
|
Series DD-2, 5.00%, 06/15/27 (Call 12/15/25) |
580 | 610,304 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue, 5.00%, 07/15/31 (Call 07/15/27) (SAW) |
180 | 191,122 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
5.00%, 07/15/28 (Call 07/15/27) (SAW) |
265 | 282,786 | ||||||
|
5.00%, 07/15/31 (Call 07/15/27) (SAW) |
200 | 212,358 | ||||||
|
Series B-1, 5.00%, 07/15/27 (SAW) |
200 | 213,414 | ||||||
|
Series S-1, 5.00%, 07/15/29 (Call 07/15/27) (SAW) |
190 | 202,340 | ||||||
|
Series S-3, 5.00%, 07/15/27 (SAW) |
295 | 314,785 | ||||||
|
Series S-4A, 5.00%, 07/15/27 (SAW) |
150 | 160,060 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue, 5.00%, 11/01/30 (Call 05/01/27) |
405 | 425,958 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
5.00%, 11/01/27 (Call 05/01/27) |
220 | 234,500 | ||||||
|
5.00%, 11/01/29 (Call 11/01/27) |
130 | 137,983 | ||||||
|
Series B-1, 5.00%, 08/01/28 (Call 08/01/27) |
190 | 202,000 | ||||||
|
Series B-1, 5.00%, 08/01/29 (Call 08/01/27) |
275 | 291,154 | ||||||
|
Series C, 5.00%, 11/01/27 (Call 05/01/25) |
255 | 265,096 | ||||||
|
Series C, 5.00%, 11/01/29 (Call 05/01/27) |
240 | 253,380 | ||||||
|
New York City Water & Sewer System RB |
||||||||
|
5.00%, 06/15/27 (PR 06/15/25) |
125 | 130,427 | ||||||
|
Series AA, 5.00%, 06/15/27 |
450 | 482,502 | ||||||
|
Series BB-2, 5.00%, 06/15/31 (Call 06/15/27) |
200 | 211,250 | ||||||
|
Series FF, 5.00%, 06/15/27 (PR 06/15/25) |
80 | 83,474 | ||||||
|
New York State Dormitory Authority |
||||||||
|
5.00%, 03/15/27 |
150 | 159,436 | ||||||
|
5.00%, 03/15/27 (ETM) |
85 | 90,883 | ||||||
|
5.00%, 07/01/27 |
185 | 198,556 | ||||||
|
New York State Dormitory Authority RB |
||||||||
|
5.00%, 03/15/27 |
100 | 106,922 | ||||||
|
5.00%, 07/01/27 |
235 | 250,336 | ||||||
|
5.00%, 03/15/28 (Call 03/15/27) |
215 | 225,426 | ||||||
|
5.00%, 03/15/30 (Call 03/15/27) |
280 | 291,780 | ||||||
|
Series A, 5.00%, 02/15/27 (PR 08/15/26) |
140 | 148,575 | ||||||
|
Series A, 5.00%, 03/15/27 |
655 | 696,991 | ||||||
|
Series A, 5.00%, 03/15/27 (PR 09/15/26) |
90 | 95,623 | ||||||
|
Series A, 5.00%, 07/01/27 (Call 07/01/25) |
200 | 207,728 | ||||||
|
Series A, 5.00%, 02/15/29 (Call 02/15/27) |
310 | 327,560 | ||||||
|
Series A, 5.00%, 02/15/30 (Call 02/15/27) |
240 | 252,562 | ||||||
|
Series B, 5.00%, 02/15/27 |
165 | 175,885 | ||||||
|
Series B, 5.00%, 02/15/27 (PR 02/15/25) |
135 | 140,157 | ||||||
|
Series B, 5.00%, 03/15/27 (PR 09/15/25) |
355 | 371,778 | ||||||
|
Series B, 5.00%, 02/15/31 (Call 08/15/27) |
250 | 263,333 | ||||||
|
Series D, 5.00%, 02/15/27 (PR 08/15/26) |
340 | 360,204 | ||||||
|
Series E, 5.00%, 03/15/27 |
420 | 449,071 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 06/15/27 |
60 | 64,387 | ||||||
|
5.00%, 06/15/27 (CALL 06/15/26) |
125 | 131,956 | ||||||
|
5.00%, 06/15/29 (Call 06/15/27) |
860 | 918,794 | ||||||
| 90 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| New York (continued) | ||||||||
|
New York State Thruway Authority RB, 5.00%, 01/01/27 |
$ | 155 | $ | 164,282 | ||||
|
New York State Urban Development Corp. RB |
||||||||
|
5.00%, 03/15/27 |
190 | 201,873 | ||||||
|
Series A, 5.00%, 03/15/27 (PR 03/15/26) |
625 | 658,425 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 03/15/27) |
260 | 275,835 | ||||||
|
Series A, 5.00%, 03/15/29 (Call 03/15/27) |
265 | 280,268 | ||||||
|
Series C, 5.00%, 03/15/31 (Call 09/15/27) |
150 | 158,911 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
4.00%, 12/01/27 |
85 | 87,086 | ||||||
|
5.00%, 11/15/31 (Call 11/15/27) |
260 | 275,108 | ||||||
|
State of New York GO, Series A, 5.00%, 03/01/27 |
55 | 58,844 | ||||||
|
Triborough Bridge & Tunnel Authority, 5.00%, 11/15/27 Call |
365 | 389,649 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series B, 5.00%, 11/15/27 (Call 05/15/27) |
300 | 320,046 | ||||||
|
Series B, 5.00%, 11/15/31 (Call 05/15/27) |
115 | 121,367 | ||||||
|
Series C-1, 5.00%, 11/15/27 |
325 | 348,914 | ||||||
|
Utility Debt Securitization Authority RB, 5.00%, 06/15/27 (Call 06/15/25) |
335 | 349,112 | ||||||
|
|
|
|||||||
| 20,181,533 | ||||||||
| North Carolina — 2.2% | ||||||||
|
City of Charlotte NC GO |
||||||||
|
5.00%, 06/01/27 |
120 | 128,816 | ||||||
|
Series A, 5.00%, 06/01/27 |
375 | 402,549 | ||||||
|
City of Charlotte NC Water & Sewer System Revenue RB, 5.00%, 07/01/27 |
20 | 21,493 | ||||||
|
County of Forsyth NC RB, 5.00%, 04/01/27 |
120 | 128,023 | ||||||
|
County of Guilford NC, 5.00%, 03/01/27 |
100 | 106,989 | ||||||
|
County of Guilford NC GO |
||||||||
|
Series B, 5.00%, 05/01/27 |
150 | 160,846 | ||||||
|
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 107,108 | ||||||
|
County of Mecklenburg NC GO |
||||||||
|
5.00%, 03/01/27 |
130 | 139,085 | ||||||
|
Series A, 5.00%, 04/01/27 |
45 | 48,199 | ||||||
|
Series A, 5.00%, 04/01/28 (Call 04/01/27) |
240 | 256,776 | ||||||
|
County of Wake NC, 5.00%, 08/01/27 |
695 | 744,511 | ||||||
|
County of Wake NC RB |
||||||||
|
5.00%, 03/01/27 |
115 | 122,558 | ||||||
|
5.00%, 09/01/27 |
35 | 37,532 | ||||||
|
Mecklenburg County Public Facilities Corp. RB, 5.00%, 02/01/27 |
50 | 53,230 | ||||||
|
State of North Carolina GO, 5.00%, 06/01/27 (Call 06/01/26) |
125 | 132,335 | ||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/27 |
295 | 313,166 | ||||||
|
5.00%, 05/01/30 (Call 05/01/27) |
260 | 276,022 | ||||||
|
Series B, 5.00%, 05/01/27 |
230 | 245,639 | ||||||
|
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
325 | 346,701 | ||||||
|
Town of Cary NC GO, 5.00%, 09/01/27 |
75 | 80,806 | ||||||
|
|
|
|||||||
| 3,852,384 | ||||||||
| Ohio — 3.0% | ||||||||
|
City of Columbus OH GO |
||||||||
|
4.00%, 04/01/31 (Call 10/01/27) |
115 | 116,900 | ||||||
|
5.00%, 04/01/27 |
125 | 133,622 | ||||||
|
5.00%, 07/01/27 (Call 07/01/26) |
550 | 581,914 | ||||||
|
Series 3, 5.00%, 02/15/27 |
210 | 224,107 | ||||||
|
City of Columbus OH GOL |
||||||||
|
Series 4, 5.00%, 02/15/27 |
85 | 90,710 | ||||||
|
Series 4, 5.00%, 02/15/28 (Call 02/15/27) |
120 | 128,012 | ||||||
|
County of Hamilton OH Sales Tax Revenue RB, 5.00%, 12/01/27 |
230 | 245,719 | ||||||
| Security | Par (000) |
Value | ||||||
| Ohio (continued) | ||||||||
|
Ohio State University (The) RB, Series A, 5.00%, 12/01/27 |
$ | 190 | $ | 204,727 | ||||
|
Ohio Turnpike & Infrastructure Commission RB |
||||||||
|
5.00%, 02/15/27 |
80 | 84,881 | ||||||
|
Series A, 5.00%, 02/15/30 (Call 02/15/27) |
110 | 115,994 | ||||||
|
Ohio Water Development Authority |
||||||||
|
5.00%, 06/01/27 |
135 | 144,561 | ||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
75 | 79,795 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
50 | 53,197 | ||||||
|
Series A, 5.00%, 12/01/27 |
280 | 301,703 | ||||||
|
Ohio Water Development Authority Water Pollution Control Loan Fund RB |
||||||||
|
5.00%, 12/01/30 (Call 06/01/27) |
100 | 106,645 | ||||||
|
Series A, 5.00%, 06/01/29 (Call 06/01/27) |
240 | 256,682 | ||||||
|
Series A, 5.00%, 12/01/29 (Call 06/01/27) |
300 | 320,721 | ||||||
|
Series B, 5.00%, 06/01/27 (Call 12/01/25) |
140 | 147,022 | ||||||
|
Series B, 5.00%, 12/01/27 |
170 | 183,177 | ||||||
|
State of Ohio GO |
||||||||
|
5.00%, 03/01/27 |
100 | 106,780 | ||||||
|
5.00%, 06/15/27 |
300 | 321,535 | ||||||
|
5.00%, 09/01/27 |
145 | 155,823 | ||||||
|
Series C, 5.00%, 08/01/27 |
140 | 150,291 | ||||||
|
Series T, 5.00%, 05/01/30 (Call 05/01/27) |
285 | 303,643 | ||||||
|
Series U, 5.00%, 05/01/27 |
295 | 315,694 | ||||||
|
State of Ohio RB |
||||||||
|
5.00%, 12/01/27 (Call 12/01/26) |
220 | 233,548 | ||||||
|
Series B, 5.00%, 10/01/27 |
35 | 37,439 | ||||||
|
|
|
|||||||
| 5,144,842 | ||||||||
| Oklahoma — 0.4% | ||||||||
|
Grand River Dam Authority RB, Series A, 5.00%, 06/01/27 (Call 12/01/26) |
310 | 328,120 | ||||||
|
Oklahoma Turnpike Authority RB |
||||||||
|
Series E, 4.00%, 01/01/31 (Call 01/01/27) |
110 | 110,434 | ||||||
|
Series E, 5.00%, 01/01/27 |
120 | 126,947 | ||||||
|
University of Oklahoma (The) RB, Series B, 5.00%, 07/01/27 (Call 07/01/26) |
100 | 105,132 | ||||||
|
|
|
|||||||
| 670,633 | ||||||||
| Oregon — 2.0% | ||||||||
|
City of Portland OR GOL, 5.00%, 06/01/27 |
615 | 659,368 | ||||||
|
City of Portland OR Sewer System Revenue RB |
||||||||
|
5.00%, 06/15/27 (CALL 06/15/26) |
100 | 105,565 | ||||||
|
Series A, 5.00%, 05/01/27 (Call 05/01/26) |
435 | 459,218 | ||||||
|
County of Multnomah OR GO, Series A, 5.00%, 06/15/27 |
110 | 117,799 | ||||||
|
County of Multnomah OR GOL, 5.00%, 06/01/29 (Call 06/01/27) |
155 | 164,961 | ||||||
|
Hillsboro School District No. 1J GO, 5.00%, 06/15/28 (Call 06/15/27) (GTD) |
150 | 159,973 | ||||||
|
Oregon State Lottery RB, Series D, 5.00%, 04/01/27 (Call 04/01/25) (MO) |
130 | 134,952 | ||||||
|
Portland Community College District GO, 5.00%, 06/15/27 (Call 06/15/26) |
300 | 317,219 | ||||||
|
State of Oregon, 5.00%, 11/01/27 |
60 | 64,615 | ||||||
|
State of Oregon Department of Transportation RB |
||||||||
|
Series A, 5.00%, 11/15/27 (Call 05/15/27) |
305 | 325,759 | ||||||
|
Series B, 5.00%, 11/15/29 (Call 05/15/27) |
205 | 217,800 | ||||||
|
State of Oregon GO |
||||||||
|
5.00%, 05/01/27 |
345 | 369,201 | ||||||
|
5.00%, 05/01/27 (Call 05/01/26) |
155 | 163,577 | ||||||
|
Series I, 5.00%, 08/01/28 (Call 08/01/27) |
155 | 166,253 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
91 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Oregon (continued) | ||||||||
|
Series L, 5.00%, 08/01/30 (Call 08/01/27) |
$ | 90 | $ | 96,085 | ||||
|
|
|
|||||||
| 3,522,345 | ||||||||
| Pennsylvania — 2.3% | ||||||||
|
City of Philadelphia PA GO |
||||||||
|
Series A, 5.00%, 08/01/27 (Call 08/01/25) |
190 | 197,654 | ||||||
|
Series B, 5.00%, 08/01/27 (Call 08/01/25) |
160 | 166,445 | ||||||
|
Commonwealth of Pennsylvania, 5.00%, 10/01/27 |
200 | 214,780 | ||||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
5.00%, 07/15/27 |
425 | 455,220 | ||||||
|
First Series, 5.00%, 01/01/27 |
140 | 148,943 | ||||||
|
First Series, 5.00%, 02/01/27 (Call 02/01/26) |
145 | 151,855 | ||||||
|
First Series, 5.00%, 09/15/27 (Call 09/15/26) |
285 | 300,780 | ||||||
|
First Series, 5.00%, 01/01/28 (Call 01/01/27) |
715 | 756,751 | ||||||
|
Second Series, 5.00%, 09/15/27 (Call 09/15/26) |
135 | 142,475 | ||||||
|
County of Northampton PA GO, 4.00%, 10/01/27 (Call 04/01/26) |
150 | 153,382 | ||||||
|
Lower Merion School District GOL, 5.00%, 11/15/27 (SAW) |
290 | 312,731 | ||||||
|
Pennsylvania State University (The), 4.00%, 09/01/27 (Call 09/01/26) |
285 | 289,401 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
5.00%, 06/01/27 |
130 | 136,778 | ||||||
|
5.00%, 06/01/27 (CALL 12/01/25) |
50 | 52,052 | ||||||
|
Series A2, 5.00%, 12/01/27 |
100 | 106,547 | ||||||
|
Series A2, 5.00%, 12/01/29 (CALL 12/01/27) |
195 | 207,210 | ||||||
|
Series A2, 5.00%, 12/01/30 (Call 12/01/27) |
125 | 132,133 | ||||||
|
|
|
|||||||
| 3,925,137 | ||||||||
| Rhode Island — 0.3% | ||||||||
|
Rhode
Island Commerce Corp. RB, |
280 | 295,385 | ||||||
|
Rhode Island Infrastructure Bank Water Pollution Control Revolving Fund RB, Series B, 5.00%, 10/01/30 (Call 10/01/27) |
50 | 53,719 | ||||||
|
State of Rhode Island GO |
||||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/27) |
150 | 160,285 | ||||||
|
Series B, 5.00%, 08/01/29 (Call 08/01/27) |
25 | 26,671 | ||||||
|
|
|
|||||||
| 536,060 | ||||||||
| South Carolina — 0.6% | ||||||||
|
City of Charleston SC Waterworks & Sewer System Revenue RB |
||||||||
|
5.00%, 01/01/27 |
125 | 133,386 | ||||||
|
5.00%, 01/01/30 (Call 01/01/27) |
100 | 106,390 | ||||||
|
County of Charleston SC, 4.00%, 11/01/28 (Call 11/01/27) (SAW) |
200 | 205,596 | ||||||
|
State of South Carolina GO |
||||||||
|
5.00%, 04/01/30 (Call 10/01/27) (SAW) |
410 | 441,114 | ||||||
|
Series A, 4.00%, 04/01/31 (Call 10/01/27) (SAW) |
80 | 81,358 | ||||||
|
|
|
|||||||
| 967,844 | ||||||||
| Tennessee — 2.7% | ||||||||
|
City of Clarksville TN Water Sewer & Gas Revenue RB, 5.00%, 02/01/27 |
140 | 148,702 | ||||||
|
City of Franklin TN GO, 5.00%, 06/01/27 |
235 | 252,367 | ||||||
|
City of Memphis TN Electric System Revenue RB, 5.00%, 12/01/28 (Call 12/01/27) |
145 | 155,821 | ||||||
|
City of Memphis TN GO, 5.00%, 05/01/27 |
390 | 416,518 | ||||||
|
County of Blount TN GO, Series B, 5.00%, 06/01/27 (Call 06/01/26) |
100 | 105,660 | ||||||
|
County of Hamilton TN GO, Series A, 5.00%, 04/01/27 |
110 | 117,727 | ||||||
|
County of Montgomery TN GO, 5.00%, 04/01/27 |
125 | 133,093 | ||||||
|
County of Rutherford, 5.00%, 04/01/27 |
150 | 160,664 | ||||||
| Security | Par (000) |
Value | ||||||
| Tennessee (continued) | ||||||||
|
County of Shelby TN GO |
||||||||
|
5.00%, 04/01/27 |
$ | 100 | $ | 106,813 | ||||
|
5.00%, 04/01/29 (Call 04/01/27) |
310 | 329,977 | ||||||
|
Series A, 5.00%, 04/01/27 |
105 | 112,153 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/27 |
150 | 160,274 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
4.00%, 07/01/27 |
290 | 297,294 | ||||||
|
5.00%, 01/01/27 (Call 07/01/26) |
360 | 380,907 | ||||||
|
5.00%, 07/01/27 |
145 | 155,496 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Water & Sewer Revenue RB |
||||||||
|
5.00%, 07/01/30 (Call 07/01/27) |
235 | 250,305 | ||||||
|
Series B, 5.00%, 07/01/30 (Call 07/01/27) |
145 | 154,443 | ||||||
|
Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue, 5.00%, 07/01/31 (Call 07/01/27) |
180 | 191,220 | ||||||
|
State of Tennessee GO |
||||||||
|
Series A, 5.00%, 11/01/27 |
105 | 113,378 | ||||||
|
Series B, 5.00%, 08/01/27 (Call 08/01/26) |
140 | 148,558 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
Series A, 5.00%, 11/01/31 (Call 11/01/27) (NPFGC) |
290 | 308,946 | ||||||
|
Series B, 5.00%, 11/01/27 (ST INTERCEPT) |
295 | 317,410 | ||||||
|
Series B, 5.00%, 11/01/28 (Call 11/01/27) (ST INTERCEPT). |
210 | 225,057 | ||||||
|
|
|
|||||||
| 4,742,783 | ||||||||
| Texas — 8.3% | ||||||||
|
Alamo Community College District GOL, 5.00%, 08/15/30 (Call 08/15/27) |
160 | 170,849 | ||||||
|
Aldine Independent School District GO, 5.00%, 02/15/31 (Call 02/15/27) (PSF) |
155 | 164,295 | ||||||
|
Arlington Independent School District/TX, 5.00%, 02/15/27 (PSF) |
125 | 133,500 | ||||||
|
Austin Independent School District, 5.00%, 08/01/27 (PSF) |
135 | 144,740 | ||||||
|
Austin Independent School District GO, 5.00%, 08/01/27 (PSF) |
565 | 605,762 | ||||||
|
Board of Regents of the University of Texas System RB, Series E, 5.00%, 08/15/27 |
210 | 225,163 | ||||||
|
City of Austin TX, 5.00%, 09/01/27 |
85 | 90,992 | ||||||
|
City of Austin TX GOL |
||||||||
|
5.00%, 09/01/27 |
60 | 64,229 | ||||||
|
5.00%, 09/01/28 (Call 09/01/27) |
110 | 117,656 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/27 |
120 | 128,314 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB, Series A, 5.00%, 10/01/27 (Call 10/01/26) |
155 | 164,255 | ||||||
|
City of Fort Worth Water & Sewer System Revenue, 5.00%, 02/15/27 |
100 | 106,347 | ||||||
|
City of Houston Combined Utility System Revenue, 0.00%, 12/01/27 (AGM)(a) |
215 | 175,476 | ||||||
|
City of Houston TX Combined Utility System Revenue RB, Series B, 5.00%, 11/15/27 |
120 | 128,371 | ||||||
|
City of Plano TX GOL, 5.00%, 09/01/31 (Call 03/01/27) |
100 | 105,771 | ||||||
|
City of San Antonio Texas Electric & Gas Systems Revenue RB, 5.00%, 02/01/27 |
75 | 79,814 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB, 5.00%, 02/01/27 |
75 | 79,814 | ||||||
|
City of San Antonio TX GOL |
||||||||
|
5.00%, 08/01/27 |
60 | 64,356 | ||||||
|
5.00%, 08/01/28 (Call 08/01/27) |
150 | 160,285 | ||||||
| 92 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
Clear Creek Independent School District RB, 5.00%, 02/15/27 (PSF) |
$ | 115 | $ | 122,441 | ||||
|
College Station Independent School District GO, 5.00%, 08/15/27 (CALL 08/15/26) |
105 | 111,007 | ||||||
|
Conroe Independent School District GO |
||||||||
|
5.00%, 02/15/27 (Call 02/15/26) (PSF) |
100 | 105,065 | ||||||
|
5.00%, 02/15/30 (Call 02/15/27) (PSF) |
110 | 116,609 | ||||||
|
Series A, 5.00%, 02/15/27 (PSF) |
470 | 500,992 | ||||||
|
County of Fort Bend TX GOL, Series B, 5.00%, 03/01/27 (Call 03/01/26) |
305 | 320,246 | ||||||
|
Cypress-Fairbanks Independent School District GO |
||||||||
|
5.00%, 02/15/27 (PSF) |
160 | 169,762 | ||||||
|
5.00%, 02/15/27 (Call 02/15/26) (PSF) |
530 | 555,831 | ||||||
|
Dallas Area Rapid Transit RB, 5.00%, 12/01/27 |
220 | 236,413 | ||||||
|
Dallas Fort Worth International Airport RB, Series A, 5.00%, 11/01/27 |
185 | 195,994 | ||||||
|
Fort Bend Independent School District GO, 4.00%, 08/15/31 (Call 08/15/27) (PSF) |
110 | 111,262 | ||||||
|
Harris County Toll Road Authority (The) RB, 5.00%, 08/15/27 |
300 | 321,387 | ||||||
|
Katy Independent School District GO, 5.00%, 02/15/27 (PSF) |
65 | 68,727 | ||||||
|
Lewisville Independent School District, 5.00%, 08/15/27 (Call 08/15/26) (PSF) |
200 | 211,733 | ||||||
|
Lewisville Independent School District GO, Series A, 4.00%, 08/15/27 (Call 08/15/25) (PSF) |
110 | 111,318 | ||||||
|
Mesquite Independent School District GO, 5.00%, 08/15/29 (Call 08/15/27) (PSF) |
215 | 229,568 | ||||||
|
North Texas Municipal Water District, 5.00%, 06/01/27 |
100 | 106,557 | ||||||
|
North Texas Municipal Water District RB, 5.00%, 06/01/27 (Call 06/01/26) |
150 | 157,854 | ||||||
|
North Texas Municipal Water District Upper East Fork Wastewater Interceptor System Contract Revenue Refunding Bonds RB, 5.00%, 06/01/27 |
55 | 58,606 | ||||||
|
North Texas Municipal Water District Water System Revenue RB |
||||||||
|
5.00%, 09/01/27 |
70 | 75,193 | ||||||
|
5.00%, 09/01/27 (Call 09/01/25) |
70 | 72,938 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
Series A, 5.00%, 01/01/27 (Call 01/01/26) |
310 | 324,435 | ||||||
|
Series B, 5.00%, 01/01/27 (Call 01/01/26) |
160 | 167,450 | ||||||
|
Northside Independent School District GO, Series A, 5.00%, 08/15/27 (PSF) |
100 | 106,947 | ||||||
|
Northside Independent School District RB, 5.00%, 08/15/27 (PSF) |
225 | 240,630 | ||||||
|
Northwest Independent School District GO, 5.00%, 02/15/28 (Call 08/15/27) (PSF) |
145 | 154,747 | ||||||
|
Permanent University Fund - Texas A&M University System RB, Series B, 5.00%, 07/01/27 (Call 07/01/25) |
25 | 26,024 | ||||||
|
Permanent University Fund - University of Texas System RB, 5.00%, 07/01/27 (CALL 07/01/26) |
130 | 137,267 | ||||||
|
Permanent University Fund-Texas A&M University System, 5.00%, 07/01/27 (Call 07/01/25) |
30 | 31,229 | ||||||
|
Permanent University Fund-University of Texas System, 5.00%, 07/01/27 |
250 | 267,761 | ||||||
|
Plano Independent School District RB, 5.00%, 02/15/27 (Call 02/15/26) (PSF) |
140 | 147,313 | ||||||
|
Round Rock Independent School District GO, Series A, 5.00%, 08/01/27 (PSF) |
1,035 | 1,110,612 | ||||||
|
San Antonio Independent School District/TX GO, 5.00%, 08/15/27 (PSF) |
60 | 64,223 | ||||||
|
San Antonio Water System, 5.00%, 05/15/27 (Call 11/15/26) |
185 | 196,942 | ||||||
| Security | Par (000) |
Value | ||||||
| Texas (continued) | ||||||||
|
San Antonio Water System RB |
||||||||
|
Series A, 5.00%, 05/15/27 |
$ | 170 | $ | 182,236 | ||||
|
Series A, 5.00%, 05/15/30 (Call 05/15/27) |
255 | 270,926 | ||||||
|
Socorro Independent School District GO, Series B, 5.00%, 08/15/30 (Call 08/15/27) (PSF) |
70 | 74,334 | ||||||
|
Spring Independent School District GO, Series A, 5.00%, 08/15/27 (Call 08/15/26) |
120 | 126,485 | ||||||
|
State of Texas GO |
||||||||
|
5.00%, 10/01/27 |
150 | 161,015 | ||||||
|
Series A, 5.00%, 04/01/27 (Call 04/01/26) |
30 | 31,613 | ||||||
|
Series A, 5.00%, 10/01/30 (Call 10/01/27) |
135 | 144,220 | ||||||
|
Series B, 5.00%, 10/01/29 (Call 10/01/27) |
170 | 181,946 | ||||||
|
Series B, 5.00%, 10/01/30 (Call 10/01/27) |
170 | 181,611 | ||||||
|
Temple Independent School District/TX GO, 4.00%, 02/01/28 (Call 02/01/27) (PSF) |
100 | 101,400 | ||||||
|
Texas A&M University RB |
||||||||
|
4.00%, 05/15/27 (Call 05/15/26) |
150 | 152,178 | ||||||
|
Series C, 5.00%, 05/15/28 (Call 05/15/27) |
180 | 190,941 | ||||||
|
Series E, 4.00%, 05/15/27 (Call 05/15/26) |
85 | 86,234 | ||||||
|
Texas Public Finance Authority RB, 5.00%, 02/01/27 |
200 | 212,756 | ||||||
|
Texas State University System RB |
||||||||
|
5.00%, 03/15/27 |
165 | 175,517 | ||||||
|
Series A, 5.00%, 03/15/27 (Call 03/15/25) |
215 | 222,054 | ||||||
|
Series A, 5.00%, 03/15/30 (Call 03/15/27) |
130 | 137,934 | ||||||
|
Texas Tech University System RB, 5.00%, 02/15/27 |
175 | 186,108 | ||||||
|
Texas Transportation Commission State Highway Fund RB, 5.00%, 10/01/27 (CALL 10/01/26) |
100 | 105,858 | ||||||
|
Texas Water Development Board RB |
||||||||
|
5.00%, 08/01/27 |
40 | 42,777 | ||||||
|
5.00%, 04/15/28 (Call 10/15/27) |
365 | 393,549 | ||||||
|
5.00%, 08/01/30 (Call 08/01/27) |
410 | 439,667 | ||||||
|
5.00%, 08/01/31 (Call 08/01/27) |
85 | 91,053 | ||||||
|
Series A, 5.00%, 10/15/27 |
150 | 160,809 | ||||||
|
Series A, 5.00%, 10/15/31 (Call 10/15/27) |
155 | 166,373 | ||||||
|
University of North Texas System RB |
||||||||
|
Series A, 5.00%, 04/15/27 |
60 | 63,382 | ||||||
|
Series A, 5.00%, 04/15/30 (Call 04/15/27) |
160 | 168,162 | ||||||
|
|
|
|||||||
| 14,296,210 | ||||||||
| Utah — 1.0% | ||||||||
|
Alpine School District/UT GO, 5.00%, 03/15/27 (GTD) |
290 | 309,821 | ||||||
|
Central Utah Water Conservancy District RB, Series B, 5.00%, 10/01/30 (Call 10/01/27) |
195 | 208,135 | ||||||
|
City of Salt Lake City Public Utilities Revenue, 5.00%, 02/01/27 |
100 | 106,623 | ||||||
|
Intermountain Power Agency RB, Series A, 5.00%, 07/01/27 |
75 | 80,094 | ||||||
|
Salt Lake City Corp. RB, 5.00%, 02/01/30 (Call 02/01/27) |
135 | 143,391 | ||||||
|
State of Utah, 5.00%, 07/01/27 |
90 | 96,918 | ||||||
|
State of Utah GO, 5.00%, 07/01/28 (Call 07/01/27) |
315 | 338,930 | ||||||
|
University of Utah (The) RB |
||||||||
|
5.00%, 08/01/27 (SAP) |
95 | 101,854 | ||||||
|
Series A, 5.00%, 08/01/27 (Call 08/01/25) |
60 | 62,481 | ||||||
|
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/28 (Call 03/01/27) |
250 | 265,188 | ||||||
|
|
|
|||||||
| 1,713,435 | ||||||||
| Vermont — 0.1% | ||||||||
|
State of Vermont GO, Series B, 5.00%, 08/15/27 |
100 | 107,541 | ||||||
|
|
|
|||||||
| Virginia — 3.4% | ||||||||
|
City of Newport News VA GO, Series A, 4.00%, 08/01/31 (Call 08/01/27) |
180 | 183,792 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
93 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Virginia (continued) | ||||||||
|
City of Norfolk VA GO, Series B, 4.00%, 10/01/27 (Call 10/01/26) |
$ | 75 | $ | 76,757 | ||||
|
City of Richmond VA, 5.00%, 07/15/28 (Call 07/15/27) |
125 | 134,120 | ||||||
|
City of Richmond VA GO |
||||||||
|
5.00%, 03/01/27 |
155 | 165,251 | ||||||
|
5.00%, 07/15/27 |
60 | 64,186 | ||||||
|
County of Arlington VA GO, 5.00%, 06/15/27 |
155 | 166,058 | ||||||
|
County of Fairfax VA GO, 4.00%, 10/01/27 |
375 | 386,543 | ||||||
|
County of Henrico VA GO, Series A, 5.00%, 08/01/27 (SAW) |
65 | 69,867 | ||||||
|
County of Loudoun VA GO |
||||||||
|
5.00%, 12/01/27 |
90 | 97,150 | ||||||
|
Series A, 5.00%, 12/01/27 (SAW) |
460 | 496,547 | ||||||
|
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/27 |
200 | 212,143 | ||||||
|
Hampton Roads Sanitation District RB, Series A, 5.00%, 10/01/29 (Call 10/01/27) |
210 | 225,247 | ||||||
|
Virginia College Building Authority, 5.00%, 02/01/27 |
240 | 255,797 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 02/01/27 |
360 | 383,696 | ||||||
|
Series A, 5.00%, 09/01/27 |
100 | 107,141 | ||||||
|
Series A, 5.00%, 09/01/27 (Call 09/01/26) (ST INTERCEPT) |
290 | 306,873 | ||||||
|
Series A, 5.00%, 09/01/27 (PR 09/01/26) (ST INTERCEPT) |
5 | 5,289 | ||||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 03/15/27 (Call 09/15/26) |
40 | 42,423 | ||||||
|
5.00%, 09/15/27 |
120 | 128,741 | ||||||
|
5.00%, 09/15/27 (Call 09/15/26) |
110 | 116,582 | ||||||
|
5.00%, 05/15/31 (Call 11/15/27) |
140 | 149,430 | ||||||
|
Series A, 5.00%, 05/15/27 |
390 | 416,713 | ||||||
|
Series A, 5.00%, 05/15/29 (Call 11/15/27) |
315 | 337,596 | ||||||
|
Series A, 5.00%, 05/15/30 (Call 11/15/27) |
185 | 197,985 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
5.00%, 08/01/27 (Call 08/01/26) |
160 | 169,184 | ||||||
|
Series A, 4.00%, 08/01/27 |
30 | 30,845 | ||||||
|
Series A, 4.00%, 08/01/31 (CALL 08/01/27) |
265 | 270,002 | ||||||
|
Virginia Public School Authority |
||||||||
|
5.00%, 08/01/27 |
260 | 278,286 | ||||||
|
5.00%, 10/01/27 (SAW) |
110 | 118,284 | ||||||
|
Virginia Public School Authority RB, 5.00%, 08/01/27 (SAW) |
105 | 112,385 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
5.00%, 11/01/27 |
60 | 64,673 | ||||||
|
5.00%, 11/01/27 (Call 11/01/25) |
110 | 114,967 | ||||||
|
|
|
|||||||
| 5,884,553 | ||||||||
| Washington — 5.4% | ||||||||
|
Auburn School District No. 408 of King & Pierce Counties GOL, 5.00%, 12/01/31 (Call 12/01/27) (GTD) |
160 | 170,399 | ||||||
|
Central Puget Sound Regional Transit Authority RB |
||||||||
|
Series S-1, 5.00%, 11/01/27 |
105 | 112,826 | ||||||
|
Series S-1, 5.00%, 11/01/27 (Call 11/01/26) |
100 | 106,241 | ||||||
|
City of Seattle GO, 5.00%, 06/01/27 (Call 06/01/25) |
170 | 176,850 | ||||||
|
City of Seattle Municipal Light & Power Revenue, 5.00%, 09/01/27 |
95 | 101,872 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB, 5.00%, 04/01/27 (Call 04/01/26) |
145 | 152,798 | ||||||
|
City of Seattle WA GOL |
||||||||
|
5.00%, 12/01/27 |
85 | 91,629 | ||||||
|
Series A, 5.00%, 05/01/27 |
280 | 299,642 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
205 | 218,925 | ||||||
|
Series B, 5.00%, 04/01/27 (Call 04/01/26) |
340 | 358,285 | ||||||
| Security | Par (000) |
Value | ||||||
| Washington (continued) | ||||||||
|
Clark County School District No. 114 Evergreen GO, 5.00%, 12/01/27 (GTD) |
$ | 155 | $ | 167,089 | ||||
|
County of King WA GOL |
||||||||
|
5.00%, 07/01/27 (Call 01/01/25) |
210 | 217,348 | ||||||
|
5.00%, 12/01/27 |
120 | 129,185 | ||||||
|
Series E, 5.00%, 12/01/27 (Call 12/01/25) |
90 | 94,407 | ||||||
|
County of King WA Sewer Revenue RB |
||||||||
|
5.00%, 07/01/27 (Call 01/01/26) |
55 | 57,657 | ||||||
|
Series B, 5.00%, 07/01/27 (Call 07/01/26) |
510 | 538,691 | ||||||
|
Energy Northwest RB |
||||||||
|
Series A, 5.00%, 07/01/27 |
60 | 63,942 | ||||||
|
Series A, 5.00%, 07/01/28 (Call 07/01/27) |
455 | 486,716 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/27) |
300 | 320,111 | ||||||
|
Series C, 5.00%, 07/01/27 |
425 | 452,924 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/27 (Call 12/01/26) (GTD) |
205 | 217,946 | ||||||
|
King County School District No. 414 Lake Washington GO, 4.00%, 12/01/27 (GTD) |
330 | 339,649 | ||||||
|
Kitsap County School District No. 401 Central Kitsap GO, 5.00%, 12/01/27 (GTD) |
40 | 43,081 | ||||||
|
Pierce County School District No. 402 Franklin Pierce GO, 5.00%, 12/01/29 (Call 12/01/27) (GTD) |
170 | 182,355 | ||||||
|
Port of Seattle WA, 5.00%, 01/01/29 (Call 01/01/27) |
200 | 211,738 | ||||||
|
Port of Seattle WA RB, 5.00%, 02/01/27 (Call 02/01/26) |
240 | 250,146 | ||||||
|
Spokane County School District No. 356 Central Valley GO, 5.00%, 12/01/28 (Call 12/01/27) (GTD) |
125 | 134,326 | ||||||
|
Spokane County School District No. 81 Spokane GO, 5.00%, 12/01/28 (Call 12/01/27) (GTD) |
220 | 236,413 | ||||||
|
State of Washington |
||||||||
|
5.00%, 07/01/27 |
400 | 428,596 | ||||||
|
5.00%, 07/01/27 (Call 01/01/25) |
315 | 326,021 | ||||||
|
State of Washington COP, Series B, 5.00%, 07/01/27 |
115 | 122,811 | ||||||
|
State of Washington GO |
||||||||
|
5.00%, 02/01/27 |
295 | 314,417 | ||||||
|
5.00%, 08/01/27 |
140 | 150,164 | ||||||
|
Series A, 5.00%, 08/01/31 (Call 08/01/27) |
135 | 143,824 | ||||||
|
Series D, 5.00%, 02/01/27 |
100 | 106,582 | ||||||
|
Series E, 5.00%, 07/01/27 (Call 01/01/25) |
130 | 134,549 | ||||||
|
Series R, 5.00%, 08/01/27 |
370 | 396,862 | ||||||
|
Series R, 5.00%, 08/01/27 (Call 08/01/26) |
245 | 259,506 | ||||||
|
Series R-2018-C, 5.00%, 08/01/29 (Call 08/01/27) |
420 | 449,349 | ||||||
|
University of Washington, 5.00%, 04/01/27 |
295 | 314,473 | ||||||
|
University of Washington RB, Series B, 5.00%, 06/01/27 (Call 06/01/25) |
95 | 98,804 | ||||||
|
Washington State University RB, 5.00%, 04/01/27 (Call 04/01/25) |
70 | 72,239 | ||||||
|
|
|
|||||||
| 9,251,388 | ||||||||
| West Virginia — 0.8% | ||||||||
|
State of West Virginia GO |
||||||||
|
Series A, 5.00%, 06/01/27 |
250 | 267,158 | ||||||
|
Series A, 5.00%, 12/01/27 |
115 | 123,635 | ||||||
|
West Virginia Commissioner of Highways RB |
||||||||
|
5.00%, 09/01/27 |
200 | 212,997 | ||||||
|
5.00%, 09/01/29 (Call 09/01/27) |
210 | 222,904 | ||||||
|
Series A, 5.00%, 09/01/29 (Call 09/01/27) |
295 | 312,723 | ||||||
|
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/27 (Call 07/01/25) |
245 | 254,910 | ||||||
|
|
|
|||||||
| 1,394,327 | ||||||||
| 94 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2027 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par (000) |
Value | ||||||
| Wisconsin — 2.3% | ||||||||
|
Milwaukee Metropolitan Sewerage District GO, Series A, 5.00%, 10/01/27 (Call 10/01/26) |
$ | 150 | $ | 158,561 | ||||
|
State of Wisconsin |
||||||||
|
4.00%, 05/01/27 (Call 05/01/26) |
85 | 86,983 | ||||||
|
5.00%, 11/01/30 (Call 05/01/27) |
270 | 287,653 | ||||||
|
State of Wisconsin GO |
||||||||
|
5.00%, 05/01/27 (Call 05/01/25) |
115 | 119,469 | ||||||
|
5.00%, 11/01/31 (Call 05/01/27) |
150 | 159,536 | ||||||
|
Series 2, 4.00%, 11/01/27 (Call 05/01/26) |
130 | 132,737 | ||||||
|
Series 2, 5.00%, 11/01/27 (Call 05/01/26) |
380 | 400,514 | ||||||
|
Series 3, 5.00%, 11/01/30 (Call 05/01/27) |
315 | 335,596 | ||||||
|
State of Wisconsin RB |
||||||||
|
Series A, 5.00%, 05/01/27 |
350 | 372,444 | ||||||
|
Series A, 5.00%, 05/01/29 (Call 05/01/27) |
350 | 372,937 | ||||||
|
Wisconsin Department of Transportation, 5.00%, 07/01/29 (Call 07/01/27) |
190 | 203,097 | ||||||
|
Wisconsin Department of Transportation RB |
||||||||
|
Series 1, 5.00%, 07/01/27 |
145 | 155,431 | ||||||
|
Series 1, 5.00%, 07/01/28 (Call 07/01/27) |
175 | 186,740 | ||||||
|
Series 2, 5.00%, 07/01/30 (Call 07/01/27) |
570 | 608,387 | ||||||
|
Series 2, 5.00%, 07/01/31 (Call 07/01/27) |
390 | 414,311 | ||||||
|
|
|
|||||||
| 3,994,396 | ||||||||
|
Total
Long-Term Investments — 98.2% |
169,487,690 | |||||||
|
|
|
|||||||
| Security | Shares (000) |
Value | ||||||
|
Short-Term Securities |
| |||||||
| Money Market Funds — 0.7% | ||||||||
|
BlackRock
Liquidity Funds: MuniCash, |
1,192 | $ | 1,191,388 | |||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.7% |
|
1,191,388 | ||||||
|
|
|
|||||||
|
Total Investments — 98.9% (Cost: $180,673,668) |
|
170,679,078 | ||||||
|
Other Assets Less Liabilities — 1.1% |
|
1,894,181 | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
|
$ | 172,573,259 | |||||
|
|
|
|||||||
| (a) |
Zero-coupon bond. |
| (b) |
Affiliate of the Fund. |
| (c) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 281,268 | $ | 909,772 | (a) | $ | — | $ | 348 | $ | — | $ | 1,191,388 | 1,192 | $ | 9,112 | $ | — | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 169,487,690 | $ | — | $ | 169,487,690 | ||||||||
|
Money Market Funds |
1,191,388 | — | — | 1,191,388 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 1,191,388 | $ | 169,487,690 | $ | — | $ | 170,679,078 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
|
S C H E D U L E O F I N V E S T M E N T S |
95 |
|
Schedule of Investments October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Municipal Debt Obligations |
||||||||
| Alabama — 1.2% | ||||||||
|
Alabama Federal Aid Highway Finance Authority RB, Series A, 5.00%, 09/01/28 (PR 09/01/27) |
$ | 90 | $ | 96,759 | ||||
|
Alabama Highway Finance Corp. RB, Series A, 5.00%, 08/01/28 |
70 | 75,489 | ||||||
|
Alabama Public School and College Authority RB, Series A, 5.00%, 11/01/28 |
485 | 527,148 | ||||||
|
City of Huntsville AL GOL, Series B, 5.00%, 05/01/28 (Call 11/01/27) |
75 | 80,734 | ||||||
|
State of Alabama GO |
||||||||
|
Series A, 4.00%, 11/01/28 (Call 02/01/26) |
20 | 20,374 | ||||||
|
Series A, 5.00%, 11/01/29 (Call 11/01/28) |
60 | 65,221 | ||||||
|
Series A, 5.00%, 11/01/32 (Call 11/01/28) |
70 | 75,255 | ||||||
|
University of Alabama (The) RB, Series C, 5.00%, 07/01/28 |
255 | 275,438 | ||||||
|
|
|
|||||||
| 1,216,418 | ||||||||
| Arizona — 1.7% | ||||||||
|
City of Mesa AZ Utility System Revenue RB, 5.00%, 07/01/29 (Call 07/01/28) |
80 | 86,418 | ||||||
|
City of Phoenix Civic Improvement Corp. RB |
||||||||
|
5.00%, 07/01/28 (Call 07/01/26) |
100 | 105,590 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/28) |
110 | 119,002 | ||||||
|
Series D, 5.00%, 07/01/28 (Call 07/01/27) |
290 | 305,618 | ||||||
|
Maricopa County Unified School District No 80 Chandler GO, 5.00%, 07/01/28 |
90 | 97,454 | ||||||
|
Maricopa County Union High School District No. 210-Phoenix GO, 5.00%, 07/01/28 (Call 07/01/27) |
70 | 74,848 | ||||||
|
Salt River Project Agricultural Improvement & Power District RB |
||||||||
|
5.00%, 01/01/29 (Call 01/01/28) |
345 | 371,271 | ||||||
|
5.00%, 01/01/31 (Call 01/01/28) |
130 | 139,507 | ||||||
|
Series A, 5.00%, 01/01/28 (Call 01/01/27) |
210 | 223,919 | ||||||
|
State of Arizona Lottery Revenue RB, 5.00%, 07/01/28 |
150 | 162,504 | ||||||
|
|
|
|||||||
| 1,686,131 | ||||||||
| California — 12.4% | ||||||||
|
Beverly Hills Unified School District CA GO, 0.00%, 08/01/28(a) |
35 | 28,141 | ||||||
|
California Infrastructure & Economic Development Bank RB |
||||||||
|
5.00%, 10/01/28 (Call 04/01/26) |
75 | 79,418 | ||||||
|
5.00%, 10/01/28 (Call 04/01/27) |
135 | 145,069 | ||||||
|
5.00%, 10/01/28 (Call 04/01/28) |
75 | 81,679 | ||||||
|
5.00%, 10/01/32 (Call 04/01/28) |
150 | 162,062 | ||||||
|
California State Public Works Board RB |
||||||||
|
4.00%, 10/01/28 (Call 10/01/26) |
50 | 50,879 | ||||||
|
5.00%, 09/01/28 (Call 09/01/27) |
240 | 257,700 | ||||||
|
Series B, 5.00%, 05/01/28 |
100 | 107,978 | ||||||
|
Series C, 5.00%, 11/01/28 |
165 | 179,152 | ||||||
|
Series C, 5.00%, 11/01/28 (Call 11/01/26) |
25 | 26,544 | ||||||
|
Series C, 5.00%, 11/01/31 (Call 11/01/28) |
75 | 81,328 | ||||||
|
Series G, 5.00%, 10/01/28 (Call 10/01/27) |
80 | 85,989 | ||||||
|
California State University RB |
||||||||
|
Series A, 5.00%, 11/01/28 (Call 05/01/26) |
260 | 274,692 | ||||||
|
Series A, 5.00%, 11/01/30 (Call 11/01/28) |
95 | 103,781 | ||||||
|
City of Los Angeles CA GO, Series B, 5.00%, 09/01/28 |
50 | 54,298 | ||||||
|
City of Los Angeles CA Wastewater System Revenue RB |
||||||||
|
Series A, 5.00%, 06/01/31 (Call 06/01/28) |
150 | 162,568 | ||||||
|
Series A, 5.00%, 06/01/32 (Call 06/01/28) |
100 | 108,048 | ||||||
|
City of Los Angeles Department of Airports RB, Series E, 5.00%, 05/15/28 |
25 | 27,045 | ||||||
|
City of Riverside CA Sewer Revenue RB, Series A, 5.00%, 08/01/29 (Call 08/01/28) |
125 | 135,354 | ||||||
| Security |
Par |
Value | ||||||
|
California (continued) |
||||||||
|
City of Riverside CA Water Revenue RB, Series A, 5.00%, 10/01/28 |
$ | 130 | $ | 142,257 | ||||
|
City of San Francisco CA Public Utilities Commission Water Revenue RB, 5.00%, 11/01/28 (Call 11/01/26) |
125 | 133,058 | ||||||
|
Coast Community College District GO |
||||||||
|
Series B, 0.00%, 08/01/28 (AGM)(a) |
330 | 266,376 | ||||||
|
Series D, 5.00%, 08/01/28 (Call 08/01/27) |
105 | 113,106 | ||||||
|
Fairfield-Suisun Unified School District GO, 4.00%, 08/01/31 (Call 08/01/28) |
100 | 102,047 | ||||||
|
Long Beach Community College District GO, 5.00%, 08/01/28 (Call 08/01/27) |
125 | 134,081 | ||||||
|
Long Beach Unified School District GO, 5.00%, 08/01/28 (Call 08/01/26) |
175 | 185,703 | ||||||
|
Los Angeles Community College District/CA GO, Series J, 5.00%, 08/01/28 (Call 08/01/27) |
40 | 43,143 | ||||||
|
Los Angeles County Metropolitan Transportation Authority RB |
||||||||
|
Series A, 5.00%, 06/01/28 |
520 | 566,965 | ||||||
|
Series A, 5.00%, 06/01/28 (Call 06/01/26) |
40 | 42,363 | ||||||
|
Series A, 5.00%, 07/01/28 (Call 07/01/27) |
100 | 107,423 | ||||||
|
Series B, 5.00%, 07/01/32 (Call 07/01/28) |
250 | 270,995 | ||||||
|
Los Angeles Department of Water & Power System Revenue RB |
||||||||
|
Series A, 5.00%, 07/01/32 (Call 01/01/28) |
95 | 102,146 | ||||||
|
Series D, 5.00%, 07/01/30 (Call 07/01/28) |
100 | 108,797 | ||||||
|
Los Angeles Department of Water RB |
||||||||
|
Series A, 5.00%, 07/01/28 (Call 01/01/26) |
35 | 36,858 | ||||||
|
Series A, 5.00%, 07/01/31 (Call 01/01/28) |
60 | 64,723 | ||||||
|
Series B, 5.00%, 07/01/31 (Call 07/01/28) |
95 | 103,138 | ||||||
|
Series B, 5.00%, 07/01/32 (Call 07/01/28) |
175 | 189,321 | ||||||
|
Los Angeles Unified School District/CA GO |
||||||||
|
Series B1, 5.00%, 07/01/28 (Call 01/01/28) |
195 | 209,558 | ||||||
|
Series B-1, 5.00%, 07/01/30 (Call 01/01/28) |
105 | 112,560 | ||||||
|
Series B-1, 5.00%, 07/01/32 (Call 01/01/28) |
145 | 154,562 | ||||||
|
Series M1, 5.00%, 07/01/28 (Call 01/01/28) |
100 | 107,465 | ||||||
|
Series M-1, 5.00%, 07/01/31 (Call 01/01/28) |
165 | 176,373 | ||||||
|
Metropolitan Water District of Southern California RB |
||||||||
|
5.00%, 01/01/31 (Call 07/01/28) |
115 | 125,198 | ||||||
|
Series B, 5.00%, 09/01/28 |
435 | 474,797 | ||||||
|
Napa Valley Community College District GO, Series B, 0.00%, 08/01/28 (NPFGC)(a) |
100 | 79,411 | ||||||
|
Newport Mesa Unified School District GO, 0.00%, 08/01/28 (NPFGC)(a) |
300 | 239,985 | ||||||
|
North Orange County Community College District/CA GO, Series B, 0.00%, 08/01/28 (NPFGC)(a) |
315 | 250,851 | ||||||
|
Poway Unified School District GO, Series A, 0.00%, 08/01/28(a) |
120 | 96,537 | ||||||
|
Sacramento Municipal Utility District RB, 5.00%, 08/15/28 |
20 | 21,840 | ||||||
|
San Diego Community College District GO, 4.00%, 08/01/28 (Call 08/01/26) |
115 | 117,845 | ||||||
|
San Francisco Bay Area Rapid Transit District GO, Series A, 5.00%, 08/01/28 (Call 08/01/27) |
50 | 53,928 | ||||||
|
San Francisco Bay Area Rapid Transit District Sales Tax Revenue RB, 4.00%, 07/01/28 (Call 07/01/26) |
50 | 51,214 | ||||||
|
San Jose Evergreen Community College District GO, Series B, 0.00%, 09/01/28 (AGM)(a) |
50 | 39,819 | ||||||
|
San Jose Unified School District GO, Series C, 0.00%, 08/01/28 (NPFGC)(a) |
170 | 137,379 | ||||||
|
San Marcos Unified School District GO, 0.00%, 08/01/28(a) |
80 | 63,672 | ||||||
|
San Mateo County Community College District GO |
||||||||
|
0.00%, 09/01/28(a) |
140 | 112,647 | ||||||
|
Series B, 5.00%, 09/01/28 |
70 | 76,677 | ||||||
| 96 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
California (continued) |
||||||||
|
Santa Clara Valley Transportation Authority RB, Series B, 5.00%, 06/01/28 |
$ | 125 | $ | 136,490 | ||||
|
State of California Department of Water Resources |
||||||||
|
5.00%, 12/01/28 |
100 | 109,651 | ||||||
|
5.00%, 12/01/30 (Call 12/01/28) |
110 | 120,191 | ||||||
|
State of California Department of Water Resources RB |
||||||||
|
5.00%, 12/01/29 (Call 12/01/28) |
125 | 136,918 | ||||||
|
5.00%, 12/01/31 (Call 12/01/28) |
70 | 76,401 | ||||||
|
Series BA, 5.00%, 12/01/28 |
175 | 191,890 | ||||||
|
State of California GO |
||||||||
|
4.00%, 09/01/28 (Call 09/01/26) |
150 | 153,307 | ||||||
|
5.00%, 04/01/28 |
125 | 135,227 | ||||||
|
5.00%, 08/01/28 |
500 | 543,006 | ||||||
|
5.00%, 08/01/28 (Call 08/01/27) |
135 | 144,746 | ||||||
|
5.00%, 09/01/28 (Call 09/01/26) |
385 | 407,737 | ||||||
|
5.00%, 10/01/28 |
385 | 418,923 | ||||||
|
5.00%, 11/01/28 |
160 | 174,267 | ||||||
|
5.00%, 08/01/29 (Call 08/01/28) |
435 | 471,979 | ||||||
|
5.00%, 10/01/30 (Call 10/01/28) |
225 | 243,940 | ||||||
|
5.00%, 11/01/32 (Call 11/01/28) |
310 | 334,661 | ||||||
|
Series C, 5.00%, 08/01/28 (Call 08/01/26) |
380 | 402,003 | ||||||
|
University of California RB |
||||||||
|
Series AZ, 5.00%, 05/15/31 (Call 05/15/28) |
70 | 75,909 | ||||||
|
Series O, 5.00%, 05/15/30 (Call 05/15/28) |
100 | 108,385 | ||||||
|
William S Hart Union High School District GO, Series B, 0.00%, 09/01/28 (AGM)(a) |
210 | 169,067 | ||||||
|
|
|
|||||||
| 12,121,241 | ||||||||
| Colorado — 1.4% | ||||||||
|
Board of Governors of Colorado State University System RB |
||||||||
|
Series C, 5.00%, 03/01/28 |
110 | 117,881 | ||||||
|
Series C, 5.00%, 03/01/29 (Call 03/01/28) |
80 | 85,654 | ||||||
|
City & County of Denver Co. Airport System Revenue RB, Series B, 5.00%, 12/01/32 (Call 12/01/28) |
225 | 234,160 | ||||||
|
Colorado Health Facilities Authority, 5.00%, 11/01/28 |
250 | 260,283 | ||||||
|
Denver City & County School District No. 1 GO |
||||||||
|
5.00%, 12/01/28 (Call 12/01/26) (SAW) |
90 | 95,577 | ||||||
|
Series B, 4.00%, 12/01/28 (SAW) |
150 | 155,420 | ||||||
|
Regional Transportation District Sales Tax Revenue RB, 5.00%, 11/01/28 |
225 | 243,285 | ||||||
|
University of Colorado RB |
||||||||
|
Series A-2, 5.00%, 06/01/30 (Call 06/01/28) |
100 | 107,434 | ||||||
|
Series A-2, 5.00%, 06/01/31 (Call 06/01/28) |
95 | 101,611 | ||||||
|
|
|
|||||||
| 1,401,305 | ||||||||
| Connecticut — 2.0% | ||||||||
|
State of Connecticut, 5.00%, 04/15/28 |
215 | 231,477 | ||||||
|
State of Connecticut Clean Water Fund - State Revolving Fund RB, Series A, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 106,850 | ||||||
|
State of Connecticut GO |
||||||||
|
5.00%, 09/15/28 |
100 | 108,145 | ||||||
|
Series 2021 A, 4.00%, 01/15/28 |
100 | 101,366 | ||||||
|
Series B, 5.00%, 04/15/28 |
105 | 113,047 | ||||||
|
Series C, 5.00%, 06/15/28 |
115 | 124,035 | ||||||
|
Series E, 5.00%, 09/15/28 |
75 | 81,109 | ||||||
|
Series E, 5.00%, 09/15/30 (Call 09/15/28) |
115 | 123,486 | ||||||
|
Series E, 5.00%, 09/15/31 (Call 09/15/28) |
205 | 218,687 | ||||||
|
State of Connecticut Special Tax Revenue RB |
||||||||
|
Series A, 5.00%, 01/01/28 |
125 | 134,208 | ||||||
|
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
125 | 131,922 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 01/01/28) |
210 | 224,860 | ||||||
| Security |
Par |
Value | ||||||
|
Connecticut (continued) |
||||||||
|
Series B, 5.00%, 09/01/28 (Call 09/01/26) |
$ | 50 | $ | 52,769 | ||||
|
Series D, 5.00%, 11/01/28 |
75 | 81,264 | ||||||
|
University of Connecticut, 5.00%, 04/15/30 (Call 04/15/28) |
165 | 175,292 | ||||||
|
|
|
|||||||
| 2,008,517 | ||||||||
| Delaware — 0.4% | ||||||||
|
Delaware Transportation Authority RB, 5.00%, 07/01/28 |
125 | 135,554 | ||||||
|
State of Delaware GO |
||||||||
|
Series A, 2.13%, 03/01/28 (Call 03/01/26) |
15 | 13,717 | ||||||
|
Series A, 5.00%, 01/01/29 (Call 01/01/28) |
125 | 135,072 | ||||||
|
Series A, 5.00%, 02/01/32 (Call 02/01/28) |
100 | 107,450 | ||||||
|
|
|
|||||||
| 391,793 | ||||||||
| District of Columbia — 1.9% | ||||||||
|
District of Columbia, 5.00%, 06/01/32 (Call 06/01/28) |
140 | 150,236 | ||||||
|
District of Columbia GO |
||||||||
|
Series A, 5.00%, 06/01/28 |
185 | 200,529 | ||||||
|
Series A, 5.00%, 10/15/28 |
65 | 70,759 | ||||||
|
Series D, 5.00%, 06/01/28 (Call 12/01/26) |
85 | 90,134 | ||||||
|
Series D, 5.00%, 06/01/28 (Call 06/01/27) |
110 | 117,508 | ||||||
|
District of Columbia RB |
||||||||
|
5.00%, 12/01/28 |
325 | 351,519 | ||||||
|
Series C, 5.00%, 10/01/28 |
510 | 553,796 | ||||||
|
District of Columbia Water & Sewer Authority RB |
||||||||
|
Series B, 5.00%, 10/01/28 |
150 | 163,890 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 04/01/27) |
25 | 26,652 | ||||||
|
Series B, 5.00%, 10/01/30 (Call 04/01/28) |
65 | 69,851 | ||||||
|
Series B, 5.00%, 10/01/32 (Call 04/01/28) |
60 | 63,968 | ||||||
|
|
|
|||||||
| 1,858,842 | ||||||||
| Florida — 3.7% | ||||||||
|
Central Florida Expressway Authority RB, Series B, 5.00%, 07/01/28 (Call 07/01/26) |
130 | 136,216 | ||||||
|
County of Miami-Dade FL Aviation Revenue RB, 5.00%, 10/01/28 (Call 10/01/26) |
165 | 170,706 | ||||||
|
County of Miami-Dade FL GO, Series D, 5.00%, 07/01/28 (Call 07/01/26) |
100 | 105,202 | ||||||
|
County of Miami-Dade FL Water & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/30 (Call 10/01/28) |
95 | 101,945 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
300 | 319,379 | ||||||
|
Florida Department of Environmental Protection RB, Series A, 5.00%, 07/01/28 |
225 | 243,033 | ||||||
|
Florida Department of Management Services COP, Series A, 5.00%, 11/01/28 |
165 | 177,484 | ||||||
|
Hillsborough County School Board COP, Series A, 5.00%, 07/01/28 (Call 07/01/26) |
310 | 322,336 | ||||||
|
Orange County School Board COP, Series C, 5.00%, 08/01/28 |
100 | 107,734 | ||||||
|
Palm Beach County School District, 5.00%, 08/01/28 |
150 | 160,311 | ||||||
|
Palm Beach County School District COP, Series B, 5.00%, 08/01/28 |
195 | 208,405 | ||||||
|
School District of Broward County/FL GO, 5.00%, 07/01/30 (Call 07/01/28) |
60 | 64,795 | ||||||
|
State of Florida, 5.00%, 06/01/28 |
100 | 108,447 | ||||||
|
State of Florida Department of Transportation RB |
||||||||
|
5.00%, 07/01/31 (Call 07/01/28) |
100 | 107,656 | ||||||
|
5.00%, 07/01/32 (Call 07/01/28) |
300 | 322,789 | ||||||
|
State of Florida Department of Transportation Turnpike System Revenue RB, Series A, 5.00%, 07/01/28 |
75 | 81,333 | ||||||
|
State of Florida GO |
||||||||
|
Series A, 4.00%, 07/01/32 (Call 07/01/28) |
350 | 346,155 | ||||||
|
Series B, 5.00%, 06/01/28 (Call 06/01/27) |
125 | 133,642 | ||||||
|
Series C, 5.00%, 06/01/30 (Call 06/01/28) |
220 | 237,395 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
97 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Florida (continued) |
||||||||
|
State of Florida Lottery Revenue RB, Series A, 5.00%, 07/01/28 |
$ | 115 | $ | 124,217 | ||||
|
|
|
|||||||
| 3,579,180 | ||||||||
| Georgia — 1.7% | ||||||||
|
City of Atlanta GA Department of Aviation RB, 5.00%, 07/01/28 |
200 | 214,010 | ||||||
|
City of Atlanta GA Water & Wastewater Revenue RB |
||||||||
|
Series A, 5.00%, 11/01/28 (Call 11/01/27) |
60 | 64,387 | ||||||
|
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
100 | 107,312 | ||||||
|
Forsyth County School District GO, 5.00%, 02/01/30 (Call 02/01/28) |
250 | 270,113 | ||||||
|
State of Georgia, 5.00%, 07/01/28 |
295 | 321,179 | ||||||
|
State of Georgia GO |
||||||||
|
Series A, 5.00%, 08/01/28 |
195 | 212,518 | ||||||
|
Series A, 5.00%, 07/01/31 (Call 07/01/28) |
205 | 222,010 | ||||||
|
Series E, 5.00%, 12/01/28 (Call 12/01/26) |
260 | 276,962 | ||||||
|
|
|
|||||||
| 1,688,491 | ||||||||
| Hawaii — 1.6% | ||||||||
|
City & County Honolulu HI Wastewater System Revenue RB |
||||||||
|
5.00%, 07/01/28 |
60 | 64,809 | ||||||
|
Series A, 4.00%, 07/01/28 |
100 | 102,880 | ||||||
|
City & County of Honolulu HI, 5.00%, 11/01/28 |
100 | 108,408 | ||||||
|
City & County of Honolulu HI GO |
||||||||
|
Series A, 5.00%, 09/01/28 |
145 | 156,905 | ||||||
|
Series A, 5.00%, 09/01/30 (Call 09/01/28) |
230 | 248,778 | ||||||
|
Series C, 4.00%, 08/01/28 |
250 | 257,344 | ||||||
|
Series D, 5.00%, 09/01/28 (Call 09/01/27) |
30 | 32,142 | ||||||
|
County of Maui HI GO, 5.00%, 09/01/28 |
35 | 38,047 | ||||||
|
State of Hawaii GO |
||||||||
|
Series FT, 5.00%, 01/01/29 (Call 01/01/28) |
185 | 198,543 | ||||||
|
Series FT, 5.00%, 01/01/31 (Call 01/01/28) |
105 | 112,064 | ||||||
|
Series FT, 5.00%, 01/01/32 (Call 01/01/28) |
230 | 244,698 | ||||||
|
|
|
|||||||
| 1,564,618 | ||||||||
| Illinois — 2.5% | ||||||||
|
Chicago O’Hare International Airport RB, Series C, 5.00%, 01/01/28 (Call 01/01/26) |
155 | 160,862 | ||||||
|
Chicago Transit Authority Capital Grant Receipts Revenue RB, 5.00%, 06/01/28 |
65 | 67,304 | ||||||
|
Illinois Finance Authority, 5.00%, 01/01/28 (Call 01/01/26) |
280 | 292,672 | ||||||
|
Illinois Finance Authority RB |
||||||||
|
5.00%, 07/01/28 (Call 01/01/26) |
25 | 26,078 | ||||||
|
5.00%, 12/01/28 |
75 | 81,334 | ||||||
|
Series B, 5.00%, 01/01/28 |
100 | 106,927 | ||||||
|
Illinois State Toll Highway Authority, 5.00%, 01/01/28 (Call 01/01/26) |
40 | 41,756 | ||||||
|
Illinois State Toll Highway Authority RB, 5.00%, 01/01/28 |
155 | 165,737 | ||||||
|
Metropolitan Water Reclamation District of Greater Chicago GO, Series A, 5.00%, 12/01/28 (Call 12/01/26) |
150 | 158,358 | ||||||
|
State of Illinois GO |
||||||||
|
5.00%, 02/01/28 (Call 02/01/27) |
100 | 100,239 | ||||||
|
Series A, 5.00%, 03/01/28 |
105 | 105,285 | ||||||
|
Series A, 5.00%, 10/01/28 |
155 | 155,268 | ||||||
|
Series A, 5.00%, 05/01/29 (Call 05/01/28) |
310 | 310,265 | ||||||
|
Series A, 5.00%, 10/01/30 (Call 10/01/28) |
200 | 199,836 | ||||||
|
Series B, 5.00%, 03/01/28 |
50 | 50,136 | ||||||
|
Series D, 5.00%, 11/01/28 (Call 11/01/27) |
300 | 300,393 | ||||||
|
State of Illinois Sales Tax Revenue RB, 5.00%, 06/15/28 |
150 | 155,248 | ||||||
|
|
|
|||||||
| 2,477,698 | ||||||||
| Security |
Par |
Value | ||||||
|
Indiana — 1.4% |
||||||||
|
City of Indianapolis Department of Public Utilities Water System Revenue RB |
||||||||
|
5.00%, 10/01/30 (Call 10/01/28) |
$ | 100 | $ | 108,140 | ||||
|
Series A, 5.00%, 10/01/28 |
65 | 70,328 | ||||||
|
Indiana Finance Authority, 5.00%, 02/01/28 |
185 | 199,828 | ||||||
|
Indiana Finance Authority RB |
||||||||
|
5.00%, 10/01/28 (Call 10/01/26) |
100 | 105,670 | ||||||
|
Series C, 5.00%, 02/01/28 |
125 | 135,019 | ||||||
|
Series C, 5.00%, 06/01/28 (Call 12/01/26) |
100 | 106,354 | ||||||
|
Series R, 5.00%, 02/01/28 |
280 | 302,442 | ||||||
|
Indianapolis Local Public Improvement Bond Bank RB, Series E, 5.00%, 01/01/28 (PR 01/01/26) |
175 | 184,046 | ||||||
|
Purdue University RB, 5.00%, 07/01/28 |
125 | 134,752 | ||||||
|
|
|
|||||||
| 1,346,579 | ||||||||
| Iowa — 0.3% | ||||||||
|
Iowa Finance Authority, 5.00%, 08/01/32 (Call 08/01/28) |
130 | 138,233 | ||||||
|
Iowa Finance Authority RB, Series A, 5.00%, 08/01/31 (Call 08/01/28) |
120 | 128,882 | ||||||
|
State of Iowa RB, Series A, 5.00%, 06/01/28 (Call 06/01/26) |
30 | 31,540 | ||||||
|
|
|
|||||||
| 298,655 | ||||||||
| Kansas — 0.3% | ||||||||
|
Sedgwick County Unified School District No. 266 Maize GO, Series A, 4.00%, 09/01/28 (Call 09/01/27) |
50 | 50,765 | ||||||
|
State of Kansas Department of Transportation RB, Series A, 5.00%, 09/01/28 (Call 09/01/27) |
195 | 208,753 | ||||||
|
|
|
|||||||
| 259,518 | ||||||||
| Louisiana — 0.6% | ||||||||
|
State of Louisiana GO |
||||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
110 | 115,720 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
150 | 161,300 | ||||||
|
State of Louisiana RB, Series A, 5.00%, 09/01/29 (Call 09/01/28) |
310 | 335,480 | ||||||
|
|
|
|||||||
| 612,500 | ||||||||
| Maine — 0.6% | ||||||||
|
Maine Municipal Bond Bank RB |
||||||||
|
Series A, 5.00%, 09/01/28 (Call 09/01/26) |
80 | 83,950 | ||||||
|
Series A, 5.00%, 11/01/28 |
150 | 162,612 | ||||||
|
Series C, 5.00%, 11/01/28 (Call 11/01/27) |
75 | 80,306 | ||||||
|
State of Maine GO |
||||||||
|
Series B, 5.00%, 06/01/28 |
120 | 129,692 | ||||||
|
Series D, 5.00%, 06/01/28 |
100 | 108,076 | ||||||
|
|
|
|||||||
| 564,636 | ||||||||
| Maryland — 5.9% | ||||||||
|
City of Baltimore MD GO, Series A, 5.00%, 10/15/28 |
45 | 48,911 | ||||||
|
County of Anne Arundel MD GOL |
||||||||
|
5.00%, 10/01/28 |
320 | 348,733 | ||||||
|
5.00%, 10/01/28 (Call 10/01/27) |
140 | 150,612 | ||||||
|
County of Baltimore MD, 5.00%, 03/01/29 (Call 03/01/28) |
580 | 627,144 | ||||||
|
County of Baltimore MD GO, 5.00%, 03/01/28 |
65 | 70,346 | ||||||
|
County of Howard MD, 5.00%, 08/15/29 (Call 08/15/28) |
100 | 108,714 | ||||||
|
County of Howard MD GO |
||||||||
|
5.00%, 02/15/28 |
55 | 59,491 | ||||||
|
Series A, 5.00%, 08/15/28 |
220 | 239,392 | ||||||
|
Series D, 5.00%, 02/15/28 |
75 | 81,125 | ||||||
|
County of Montgomery MD GO |
||||||||
|
5.00%, 11/01/28 |
225 | 245,446 | ||||||
|
Series A, 5.00%, 11/01/28 |
265 | 289,081 | ||||||
|
Series A, 5.00%, 11/01/29 (Call 11/01/28) |
130 | 141,680 | ||||||
| 98 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Maryland (continued) |
||||||||
|
County of Prince George’s MD GOL |
||||||||
|
Series A, 4.00%, 07/15/32 (Call 07/15/28) |
$ | 200 | $ | 203,043 | ||||
|
Series A, 5.00%, 07/15/31 (Call 07/15/28) |
330 | 356,610 | ||||||
|
Series B, 5.00%, 09/15/28 |
215 | 234,181 | ||||||
|
State of Maryland Department of Transportation RB |
||||||||
|
4.00%, 05/01/30 (Call 05/01/28) |
80 | 81,876 | ||||||
|
5.00%, 09/01/28 (Call 09/01/27) |
135 | 144,707 | ||||||
|
5.00%, 10/01/28 (Call 10/01/26) |
200 | 211,817 | ||||||
|
5.00%, 12/01/28 |
135 | 146,941 | ||||||
|
State of Maryland GO |
||||||||
|
5.00%, 08/01/28 |
95 | 103,378 | ||||||
|
First Series, 5.00%, 03/15/28 |
525 | 568,722 | ||||||
|
Second Series, 5.00%, 08/01/29 (Call 08/01/28) |
265 | 288,105 | ||||||
|
Second Series, 5.00%, 08/01/30 (Call 08/01/28) |
115 | 124,789 | ||||||
|
Series A, 5.00%, 03/15/29 (Call 03/15/28) |
340 | 367,984 | ||||||
|
Washington Suburban Sanitary Commission RB |
||||||||
|
5.00%, 06/01/28 |
200 | 217,106 | ||||||
|
5.00%, 06/01/28 (GTD) |
125 | 135,691 | ||||||
|
5.00%, 06/01/30 (Call 06/01/28) (GTD) |
125 | 135,346 | ||||||
|
|
|
|||||||
| 5,730,971 | ||||||||
| Massachusetts — 2.1% | ||||||||
|
Commonwealth of Massachusetts GOL |
||||||||
|
Series B, 5.00%, 07/01/28 |
350 | 378,427 | ||||||
|
Series B, 5.00%, 01/01/30 (Call 01/01/28) |
320 | 342,761 | ||||||
|
Series B, 5.25%, 08/01/28 |
350 | 383,303 | ||||||
|
Series C, 5.00%, 05/01/28 |
100 | 107,926 | ||||||
|
Massachusetts Bay Transportation Authority RB, Series A, 5.25%, 07/01/28 |
250 | 274,038 | ||||||
|
Massachusetts Department of Transportation RB, Series A, 0.00%, 01/01/28 (NPFGC)(a) |
50 | 40,341 | ||||||
|
Massachusetts Health & Educational Facilities Authority RB, Series M, 5.25%, 07/01/28 |
100 | 109,994 | ||||||
|
Massachusetts Water Resources Authority RB |
||||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
105 | 110,966 | ||||||
|
Series B, 5.25%, 08/01/28 (AGM) |
135 | 148,363 | ||||||
|
University of Massachusetts Building Authority RB, Series 2019-1, 5.00%, 05/01/28 |
150 | 162,279 | ||||||
|
|
|
|||||||
| 2,058,398 | ||||||||
| Michigan — 1.0% | ||||||||
|
Great Lakes Water Authority Water Supply System Revenue RB, Series C, 5.00%, 07/01/28 (Call 07/01/26) |
35 | 36,654 | ||||||
|
Michigan Finance Authority RB |
||||||||
|
5.00%, 10/01/28 |
120 | 130,640 | ||||||
|
5.00%, 10/01/30 (Call 10/01/28) |
150 | 163,213 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/26) |
170 | 180,279 | ||||||
|
Michigan State Building Authority RB, Series I, 5.00%, 04/15/28 |
260 | 278,990 | ||||||
|
Michigan State University RB, Series B, 5.00%, 02/15/28 |
135 | 144,738 | ||||||
|
University of Michigan RB, 5.00%, 04/01/32 (Call 04/01/28) |
75 | 80,409 | ||||||
|
|
|
|||||||
| 1,014,923 | ||||||||
| Minnesota — 1.4% | ||||||||
|
Metropolitan Council GO |
||||||||
|
5.00%, 03/01/28 |
200 | 216,553 | ||||||
|
5.00%, 12/01/28 |
100 | 109,248 | ||||||
|
Series C, 4.00%, 03/01/28 (Call 03/01/27) |
25 | 25,696 | ||||||
|
Minneapolis-St Paul Metropolitan Airports Commission RB, Series A, 5.00%, 01/01/28 (Call 01/01/27) |
100 | 104,890 | ||||||
|
Minnesota Public Facilities Authority RB, Series A, 5.00%, 03/01/28 (Call 03/01/26) |
100 | 105,224 | ||||||
| Security |
Par |
Value | ||||||
|
Minnesota (continued) |
||||||||
|
State of Minnesota GO |
||||||||
|
Series A, 5.00%, 10/01/28 (Call 10/01/27) |
$ | 100 | $ | 107,627 | ||||
|
Series A, 5.00%, 08/01/29 (Call 08/01/28) |
310 | 337,028 | ||||||
|
Series A, 5.00%, 08/01/32 (Call 08/01/28) |
255 | 274,014 | ||||||
|
Series B, 5.00%, 10/01/28 (Call 10/01/27) |
115 | 123,771 | ||||||
|
|
|
|||||||
| 1,404,051 | ||||||||
| Mississippi — 0.2% | ||||||||
|
State of Mississippi GO, Series A, 5.00%, 10/01/28 (Call 10/01/27) |
205 | 219,867 | ||||||
|
|
|
|||||||
| Missouri — 0.5% | ||||||||
|
City of Kansas City MO Sanitary Sewer System Revenue RB, Series A, 5.00%, 01/01/29 (Call 01/01/28) |
140 | 150,386 | ||||||
|
Missouri State Board of Public Buildings RB, Series B, 4.00%, 10/01/28 |
345 | 353,486 | ||||||
|
|
|
|||||||
| 503,872 | ||||||||
| Nebraska — 0.5% | ||||||||
|
Omaha Public Power District, 5.00%, 02/01/29 (Call 02/01/28) |
110 | 118,710 | ||||||
|
Omaha Public Power District RB, Series A, 5.00%, 02/01/28 (Call 02/01/26) |
130 | 136,677 | ||||||
|
University of Nebraska Facilities Corp. RB |
||||||||
|
5.00%, 07/15/28 |
55 | 59,730 | ||||||
|
5.00%, 07/15/30 (Call 07/15/28) |
150 | 161,404 | ||||||
|
|
|
|||||||
| 476,521 | ||||||||
| Nevada — 2.3% | ||||||||
|
Clark County School District GOL, Series C, 5.00%, 06/15/28 (Call 12/15/27) |
145 | 154,902 | ||||||
|
County of Clark Department of Aviation RB, Series B, 5.00%, 07/01/28 |
150 | 160,825 | ||||||
|
County of Clark NV, 5.00%, 12/01/28 |
280 | 304,606 | ||||||
|
County of Clark NV GOL |
||||||||
|
5.00%, 12/01/30 (Call 12/01/28) |
155 | 167,145 | ||||||
|
5.00%, 12/01/31 (Call 12/01/28) |
175 | 188,011 | ||||||
|
County of Clark NV RB, Series B, 5.00%, 07/01/28 |
335 | 360,956 | ||||||
|
County of Washoe NV RB, 5.00%, 02/01/28 |
195 | 208,690 | ||||||
|
Las Vegas Valley Water District GOL, 5.00%, 06/01/28 |
240 | 259,891 | ||||||
|
State of Nevada GOL |
||||||||
|
Series A, 5.00%, 04/01/28 |
40 | 43,190 | ||||||
|
Series A, 5.00%, 05/01/28 |
75 | 81,062 | ||||||
|
State of Nevada Highway Improvement Revenue RB |
||||||||
|
5.00%, 12/01/28 (Call 06/01/26) |
100 | 105,029 | ||||||
|
5.00%, 12/01/30 (Call 06/01/28) |
160 | 171,604 | ||||||
|
|
|
|||||||
| 2,205,911 | ||||||||
| New Hampshire — 0.4% | ||||||||
|
New Hampshire Municipal Bond Bank RB, Series B, 5.00%, 08/15/28 |
265 | 286,907 | ||||||
|
State of New Hampshire GO, Series A, 5.00%, 12/01/31 (Call 12/01/28) |
65 | 70,349 | ||||||
|
|
|
|||||||
| 357,256 | ||||||||
| New Jersey — 1.9% | ||||||||
|
County of Monmouth NJ GO, 5.00%, 07/15/28 (Call 07/15/27) |
100 | 107,612 | ||||||
|
New Jersey Economic Development Authority, 5.00%, 11/01/28 |
100 | 104,059 | ||||||
|
New Jersey Economic Development Authority RB, 5.00%, 06/15/28 |
60 | 62,319 | ||||||
|
New Jersey Transportation Trust Fund Authority RB |
||||||||
|
5.00%, 06/15/30 (Call 12/15/28) |
75 | 77,419 | ||||||
|
Series A, 5.00%, 06/15/28 (Call 06/15/26) |
100 | 103,065 | ||||||
|
New Jersey Turnpike Authority RB |
||||||||
|
Series B, 5.00%, 01/01/31 (Call 01/01/28) |
105 | 111,149 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
99 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
New Jersey (continued) |
||||||||
|
Series B, 5.00%, 01/01/32 (Call 01/01/28) |
$ | 330 | $ | 347,908 | ||||
|
Series E, 5.00%, 01/01/29 (Call 01/01/28) |
425 | 452,386 | ||||||
|
State of New Jersey GO |
||||||||
|
5.00%, 06/01/28 (Call 06/01/27) |
135 | 142,921 | ||||||
|
Series A, 5.00%, 06/01/28 |
300 | 321,080 | ||||||
|
|
|
|||||||
| 1,829,918 | ||||||||
| New Mexico — 0.6% | ||||||||
|
New Mexico Finance Authority RB |
||||||||
|
5.00%, 06/15/28 |
100 | 108,229 | ||||||
|
Series D, 5.00%, 06/01/29 (Call 06/01/28) |
70 | 75,474 | ||||||
|
State of New Mexico Severance Tax Permanent Fund, 5.00%, 07/01/28 |
230 | 249,296 | ||||||
|
State of New Mexico Severance Tax Permanent Fund RB, 5.00%, 07/01/28 |
105 | 113,809 | ||||||
|
|
|
|||||||
| 546,808 | ||||||||
| New York — 11.4% | ||||||||
|
City of New York NY GO |
||||||||
|
5.00%, 08/01/31 (Call 02/01/28) |
100 | 106,815 | ||||||
|
Series A, 5.00%, 08/01/28 (Call 08/01/27) |
140 | 149,473 | ||||||
|
Series A, 5.00%, 08/01/29 (Call 02/01/28) |
110 | 118,059 | ||||||
|
Series A-2, 5.00%, 08/01/29 (Call 02/01/28) |
195 | 209,286 | ||||||
|
Series B-1, 5.00%, 10/01/28 |
80 | 86,647 | ||||||
|
Series C, 5.00%, 08/01/28 (Call 02/01/27) |
150 | 159,155 | ||||||
|
Series C, 5.00%, 08/01/29 (Call 02/01/28) |
210 | 225,385 | ||||||
|
Series D, 5.00%, 08/01/28 (Call 02/01/26) |
210 | 219,796 | ||||||
|
Series E, 5.00%, 08/01/28 |
235 | 254,064 | ||||||
|
Long Island Power Authority RB |
||||||||
|
5.00%, 09/01/29 (Call 09/01/28) |
165 | 176,671 | ||||||
|
Series A, 0.00%, 12/01/28 (AGM)(a) |
170 | 133,951 | ||||||
|
Metropolitan Transportation Authority RB |
||||||||
|
Series B, 5.00%, 11/15/28 |
435 | 443,147 | ||||||
|
Series C-1, 5.00%, 11/15/28 (Call 05/15/28) |
195 | 199,246 | ||||||
|
Series C-1, 5.00%, 11/15/29 (Call 05/15/28) |
290 | 295,591 | ||||||
|
New York City Municipal Water Finance Authority, 5.00%, 06/15/28 (Call 12/15/26) |
125 | 132,120 | ||||||
|
New York City Municipal Water Finance Authority RB, Series EE, 5.00%, 06/15/28 |
125 | 135,552 | ||||||
|
New York City Transitional Finance Authority Building Aid Revenue RB |
||||||||
|
Series S, 5.00%, 07/15/30 (Call 07/15/28) (SAW) |
135 | 144,400 | ||||||
|
Series S-2A, 5.00%, 07/15/31 (Call 07/15/28) (SAW) |
195 | 207,604 | ||||||
|
Series S-2A, 5.00%, 07/15/32 (Call 07/15/28) (SAW) |
145 | 153,527 | ||||||
|
Series S-4A, 5.00%, 07/15/28 (SAW) |
55 | 59,315 | ||||||
|
Series S-4A, 5.00%, 07/15/31 (Call 07/15/28) (SAW) |
175 | 186,311 | ||||||
|
New York City Transitional Finance Authority Future Tax Secured Revenue RB |
||||||||
|
5.00%, 11/01/28 |
435 | 468,642 | ||||||
|
5.00%, 11/01/28 (Call 11/01/27) |
200 | 213,205 | ||||||
|
Series A1, 5.00%, 08/01/32 (Call 08/01/28) |
50 | 52,875 | ||||||
|
Series B-1, 5.00%, 08/01/28 (Call 08/01/27) |
100 | 106,316 | ||||||
|
Series C-1, 5.00%, 11/01/28 |
25 | 26,933 | ||||||
|
Series C-2, 5.00%, 05/01/32 (Call 05/01/28) |
155 | 163,683 | ||||||
|
New York City Water & Sewer System RB |
||||||||
|
5.00%, 06/15/28 |
195 | 211,461 | ||||||
|
5.00%, 06/15/28 (Call 06/15/27) |
130 | 138,822 | ||||||
|
Series CC-1, 5.00%, 06/15/28 |
135 | 146,396 | ||||||
|
New York State Dormitory Authority, 5.00%, 03/15/29 (Call 09/15/28) |
120 | 129,317 | ||||||
| Security |
Par |
Value | ||||||
|
New York (continued) |
||||||||
|
New York State Dormitory Authority RB |
||||||||
|
5.00%, 07/01/28 |
$ | 200 | $ | 217,209 | ||||
|
Series A, 5.00%, 02/15/28 (Call 02/15/27) |
200 | 211,812 | ||||||
|
Series A, 5.00%, 03/15/28 |
125 | 134,327 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 09/15/26) |
30 | 31,717 | ||||||
|
Series A, 5.00%, 03/15/29 (Call 03/15/28) |
210 | 225,999 | ||||||
|
Series A, 5.00%, 07/01/29 (Call 07/01/28) |
170 | 180,846 | ||||||
|
Series A, 5.00%, 03/15/31 (Call 03/15/28) |
185 | 197,385 | ||||||
|
Series A, 5.00%, 03/15/32 (Call 03/15/28) |
210 | 223,258 | ||||||
|
Series A, 5.00%, 03/15/32 (Call 09/15/28) |
145 | 154,683 | ||||||
|
Series B, 5.00%, 02/15/28 (Call 08/15/27) |
320 | 340,783 | ||||||
|
Series C, 5.00%, 03/15/29 (Call 03/15/28) |
190 | 204,476 | ||||||
|
Series C, 5.00%, 03/15/31 (Call 03/15/28) |
80 | 85,356 | ||||||
|
Series C, 5.00%, 03/15/32 (Call 03/15/28) |
65 | 69,104 | ||||||
|
Series E, 5.00%, 03/15/30 (Call 09/15/28) |
480 | 516,268 | ||||||
|
New York State Environmental Facilities Corp., 5.00%, 06/15/29 (Call 06/15/28) |
100 | 108,129 | ||||||
|
New York State Environmental Facilities Corp. RB |
||||||||
|
5.00%, 06/15/28 (Call 06/15/26) |
100 | 105,565 | ||||||
|
5.00%, 06/15/28 (Call 06/15/27) |
145 | 155,289 | ||||||
|
Series B, 5.00%, 06/15/28 |
250 | 271,505 | ||||||
|
Series B, 5.00%, 06/15/32 (Call 06/15/28) |
75 | 79,879 | ||||||
|
New York State Thruway Authority RB |
||||||||
|
Series L, 5.00%, 01/01/30 (Call 01/01/28) |
230 | 245,240 | ||||||
|
Series L, 5.00%, 01/01/31 (Call 01/01/28) |
110 | 116,920 | ||||||
|
New York State Urban Development Corp. RB |
||||||||
|
Series A, 5.00%, 03/15/28 (Call 03/15/26) |
350 | 366,093 | ||||||
|
Series A, 5.00%, 03/15/28 (Call 03/15/27) |
120 | 127,308 | ||||||
|
Series C-2, 5.00%, 03/15/28 (Call 09/15/27) |
100 | 106,685 | ||||||
|
Port Authority of New York & New Jersey, 5.00%, 09/01/29 (Call 09/01/28) |
100 | 107,836 | ||||||
|
Port Authority of New York & New Jersey RB |
||||||||
|
Series 205TH, 5.00%, 11/15/28 (Call 11/15/27) |
120 | 128,259 | ||||||
|
Series 209TH, 5.00%, 07/15/30 (Call 07/15/28) |
100 | 107,442 | ||||||
|
Series 211TH, 5.00%, 09/01/32 (Call 09/01/28) |
170 | 181,232 | ||||||
|
Triborough Bridge & Tunnel Authority RB |
||||||||
|
Series B, 0.00%, 11/15/28(a) |
180 | 141,329 | ||||||
|
Series B, 5.00%, 11/15/28 |
240 | 260,420 | ||||||
|
Series C-1, 5.00%, 11/15/28 |
70 | 75,956 | ||||||
|
Utility Debt Securitization Authority RB, Series A, 5.00%, 06/15/28 (Call 06/15/26) |
165 | 174,182 | ||||||
|
|
|
|||||||
| 11,106,257 | ||||||||
| North Carolina — 1.6% | ||||||||
|
City of Charlotte NC GO, Series A, 5.00%, 06/01/28 |
115 | 125,019 | ||||||
|
County of Guilford NC GO, Series B, 5.00%, 05/01/28 (Call 05/01/27) |
100 | 107,108 | ||||||
|
County of Wake NC |
||||||||
|
5.00%, 03/01/28 |
100 | 107,870 | ||||||
|
5.00%, 04/01/28 |
60 | 65,095 | ||||||
|
County of Wake NC GO |
||||||||
|
Series A, 5.00%, 04/01/28 |
15 | 16,274 | ||||||
|
Series A, 5.00%, 03/01/31 (Call 03/01/28) |
105 | 113,265 | ||||||
|
County of Wake NC RB, Series A, 5.00%, 12/01/28 (Call 12/01/26) |
75 | 79,599 | ||||||
|
North Carolina State University at Raleigh RB, 5.00%, 10/01/28 |
75 | 81,148 | ||||||
|
State of North Carolina, 5.00%, 05/01/28 |
100 | 108,030 | ||||||
|
State of North Carolina GO |
||||||||
|
Series A, 5.00%, 06/01/28 |
230 | 250,160 | ||||||
|
Series A, 5.00%, 06/01/29 (Call 06/01/28) |
150 | 162,999 | ||||||
| 100 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
North Carolina (continued) |
||||||||
|
State of North Carolina RB |
||||||||
|
5.00%, 03/01/28 |
$ | 215 | $ | 230,836 | ||||
|
Series B, 5.00%, 05/01/28 (Call 05/01/27) |
150 | 160,016 | ||||||
|
|
|
|||||||
| 1,607,419 | ||||||||
| North Dakota — 0.1% | ||||||||
|
North Dakota Building Authority, 5.00%, 12/01/28 |
100 | 108,388 | ||||||
|
|
|
|||||||
| Ohio — 3.3% | ||||||||
|
American Municipal Power Inc. RB, Series A, 5.00%, 02/15/28 (Call 02/15/26) |
105 | 109,652 | ||||||
|
City of Columbus OH, 5.00%, 04/01/29 (Call 10/01/28) |
120 | 130,579 | ||||||
|
City of Columbus OH GO, Series A, 5.00%, 04/01/31 (Call 10/01/28) |
410 | 443,513 | ||||||
|
County of Franklin OH Sales Tax Revenue RB, 4.00%, 06/01/31 (Call 06/01/28) |
145 | 148,338 | ||||||
|
Ohio Turnpike & Infrastructure Commission RB, Series A, 5.00%, 02/15/28 (Call 02/15/27) |
150 | 159,337 | ||||||
|
Ohio Water Development Authority, 5.00%, 06/01/28 |
85 | 91,955 | ||||||
|
Ohio Water Development Authority RB |
||||||||
|
5.00%, 06/01/28 (Call 03/01/28) |
190 | 205,388 | ||||||
|
5.00%, 12/01/28 |
100 | 108,788 | ||||||
|
5.00%, 12/01/28 (Call 12/01/26) |
95 | 101,036 | ||||||
|
Series A, 5.00%, 06/01/28 |
145 | 156,864 | ||||||
|
Series A, 5.00%, 12/01/28 |
375 | 407,954 | ||||||
|
State of Ohio, 5.00%, 05/01/28 |
120 | 129,698 | ||||||
|
State of Ohio GO |
||||||||
|
5.00%, 09/01/28 |
150 | 162,728 | ||||||
|
Series B, 5.00%, 09/01/28 |
130 | 141,102 | ||||||
|
Series B, 5.00%, 09/15/28 |
40 | 43,413 | ||||||
|
Series S, 5.00%, 05/01/28 (Call 05/01/26) |
260 | 274,036 | ||||||
|
Series V, 5.00%, 05/01/32 (Call 05/01/28) |
100 | 106,930 | ||||||
|
State of Ohio RB |
||||||||
|
Series A, 5.00%, 04/01/28 |
115 | 123,701 | ||||||
|
Series C, 5.00%, 12/01/28 (Call 12/01/26) |
135 | 143,049 | ||||||
|
|
|
|||||||
| 3,188,061 | ||||||||
| Oklahoma — 0.1% | ||||||||
|
Oklahoma Capitol Improvement Authority RB, 5.00%, 07/01/28 |
25 | 26,844 | ||||||
|
Oklahoma Department of Transportation RB, Series A, 5.00%, 09/01/28 |
50 | 53,613 | ||||||
|
|
|
|||||||
| 80,457 | ||||||||
| Oregon — 0.9% | ||||||||
|
City of Portland OR GOL, Series B, 5.00%, 06/15/29 (Call 06/15/28) |
145 | 157,406 | ||||||
|
City of Portland OR Sewer System Revenue RB, Series A, 5.00%, 05/01/28 (Call 05/01/26) |
100 | 105,365 | ||||||
|
County of Multnomah OR GO, Series A, 5.00%, 06/15/28 |
120 | 130,066 | ||||||
|
Oregon Health & Science University RB, Series A, 5.00%, 07/01/28 |
135 | 145,172 | ||||||
|
Salem-Keizer School District No. 24J GO, Series B, 0.00%, 06/15/28 (GTD)(a) |
90 | 72,125 | ||||||
|
State of Oregon GO |
||||||||
|
Series A, 5.00%, 05/01/28 |
40 | 43,337 | ||||||
|
Series D, 5.00%, 06/01/28 |
155 | 168,092 | ||||||
|
Series Q, 5.00%, 05/01/28 (Call 05/01/26) |
60 | 63,300 | ||||||
|
|
|
|||||||
| 884,863 | ||||||||
| Pennsylvania — 2.0% | ||||||||
|
City of Philadelphia PA Water & Wastewater Revenue RB, Series B, 5.00%, 11/01/28 (Call 11/01/27) |
120 | 127,302 | ||||||
| Security |
Par |
Value | ||||||
|
Pennsylvania (continued) |
||||||||
|
Commonwealth of Pennsylvania, 5.00%, 01/15/28 (Call 01/15/27) |
$ | 270 | $ | 285,893 | ||||
|
Commonwealth of Pennsylvania GO |
||||||||
|
First Series, 5.00%, 01/01/28 (Call 01/01/27) |
305 | 322,810 | ||||||
|
Second Series, 5.00%, 09/15/28 (Call 09/15/26) |
250 | 263,657 | ||||||
|
Series 1, 5.00%, 02/01/28 (Call 02/01/26) |
140 | 146,443 | ||||||
|
County of Chester PA GO, Series A, 4.00%, 07/15/28 (Call 07/15/26) |
105 | 107,682 | ||||||
|
Pennsylvania Turnpike Commission RB |
||||||||
|
Second Series, 5.00%, 12/01/28 (Call 12/01/27) |
150 | 157,900 | ||||||
|
Series A, 5.25%, 07/15/28 (AGM) |
320 | 349,384 | ||||||
|
Pittsburgh Water & Sewer Authority RB, Series A, 5.00%, 09/01/28 (Call 09/01/27) (AGM) |
30 | 31,937 | ||||||
|
West Chester Area School District/PA, 5.00%, 05/15/28 |
200 | 216,993 | ||||||
|
|
|
|||||||
| 2,010,001 | ||||||||
| Rhode Island — 0.5% | ||||||||
|
Rhode Island Commerce Corp. RB, 5.00%, 05/15/28 |
200 | 213,550 | ||||||
|
State of Rhode Island GO |
||||||||
|
5.00%, 01/15/28 |
100 | 106,676 | ||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/27) |
125 | 133,571 | ||||||
|
|
|
|||||||
| 453,797 | ||||||||
| South Carolina — 0.7% | ||||||||
|
County of Beaufort SC GO, Series A, 5.00%, 02/01/28 (Call 02/01/27) (SAW) |
120 | 127,714 | ||||||
|
County of Charleston SC GO, Series B, 5.00%, 11/01/28 |
100 | 109,258 | ||||||
|
South Carolina Transportation Infrastructure Bank RB |
||||||||
|
5.00%, 10/01/28 |
150 | 160,803 | ||||||
|
Series A, 5.00%, 10/01/29 (Call 10/01/28) |
130 | 138,948 | ||||||
|
State of South Carolina GO, Series A, 5.00%, 04/01/28 (Call 10/01/27) (SAW) |
110 | 118,596 | ||||||
|
|
|
|||||||
| 655,319 | ||||||||
| Tennessee — 2.5% | ||||||||
|
City of Clarksville TN Water Sewer & Gas Revenue RB, 5.00%, 02/01/28 (Call 02/01/26) |
100 | 104,649 | ||||||
|
City of Memphis TN Sanitary Sewerage System Revenue RB, Series B, 5.00%, 10/01/28 |
190 | 206,316 | ||||||
|
County of Hamilton TN GO |
||||||||
|
5.00%, 04/01/29 (Call 04/01/28) |
100 | 108,135 | ||||||
|
Series A, 5.00%, 04/01/28 |
180 | 194,820 | ||||||
|
County of Montgomery TN, 5.00%, 04/01/28 |
55 | 59,387 | ||||||
|
County of Shelby TN, 5.00%, 04/01/28 |
40 | 43,211 | ||||||
|
County of Williamson TN, 5.00%, 05/01/28 |
275 | 297,943 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN Electric Revenue RB, Series A, 5.00%, 05/15/28 (Call 05/15/27) |
110 | 117,446 | ||||||
|
Metropolitan Government of Nashville & Davidson County TN GO |
||||||||
|
4.00%, 01/01/28 (Call 07/01/26) |
90 | 91,935 | ||||||
|
4.00%, 07/01/28 |
110 | 113,199 | ||||||
|
5.00%, 01/01/28 (Call 07/01/26) |
170 | 179,467 | ||||||
|
5.00%, 07/01/30 (Call 07/01/28) |
200 | 215,771 | ||||||
|
5.00%, 07/01/32 (Call 07/01/28) |
130 | 138,842 | ||||||
|
State of Tennessee GO |
||||||||
|
Series A, 5.00%, 02/01/29 (Call 02/01/28) |
105 | 113,630 | ||||||
|
Series A, 5.00%, 02/01/32 (Call 02/01/28) |
75 | 80,625 | ||||||
|
Tennessee State School Bond Authority RB |
||||||||
|
Series A, 5.00%, 11/01/28 (Call 11/01/27) |
115 | 123,246 | ||||||
|
Series B, 5.00%, 11/01/28 (Call 11/01/27) (ST INTERCEPT) |
220 | 235,774 | ||||||
|
|
|
|||||||
| 2,424,396 | ||||||||
|
S C H E D U L E O F I N V E S T M E N T S |
101 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Texas — 11.2% |
||||||||
|
Abilene Independent School District GO, 5.00%, 02/15/28 |
$ | 55 | $ | 59,022 | ||||
|
Aldine Independent School District GO, 5.00%, 02/15/28 (Call 02/15/27) (PSF) |
90 | 95,684 | ||||||
|
Alvin Independent School District/TX GO, Series A, 5.00%, 02/15/28 (Call 02/15/26) (PSF) |
95 | 99,510 | ||||||
|
Austin Independent School District GO |
||||||||
|
5.00%, 08/01/28 (Call 08/01/26) (PSF) |
100 | 105,416 | ||||||
|
5.00%, 08/01/31 (Call 08/01/28) (PSF) |
210 | 225,770 | ||||||
|
Board of Regents of the University of Texas System, 5.00%, 08/15/28 |
350 | 379,125 | ||||||
|
Board of Regents of the University of Texas System RB, Series H, 5.00%, 08/15/28 (Call 08/15/26) |
75 | 79,181 | ||||||
|
City of Austin TX GOL, 5.00%, 09/01/28 |
235 | 254,423 | ||||||
|
City of Austin TX Water & Wastewater System Revenue RB, 5.00%, 11/15/28 (Call 11/15/26) |
175 | 184,749 | ||||||
|
City of Dallas TX Waterworks & Sewer System Revenue RB |
||||||||
|
5.00%, 10/01/28 (Call 10/01/27) |
150 | 160,948 | ||||||
|
Series C, 5.00%, 10/01/29 (Call 10/01/28) |
50 | 54,271 | ||||||
|
City of Fort Worth Water & Sewer System Revenue, 4.00%, 02/15/28 |
240 | 246,171 | ||||||
|
City of Houston TX Combined Utility System Revenue RB |
||||||||
|
Series A, 0.00%, 12/01/28 (AGM)(a) |
170 | 132,917 | ||||||
|
Series B, 5.00%, 11/15/28 (Call 11/15/27) |
105 | 112,276 | ||||||
|
Series D, 5.00%, 11/15/30 (Call 11/15/28) |
145 | 156,151 | ||||||
|
City of Houston TX GOL, Series A, 5.00%, 03/01/28 |
150 | 160,370 | ||||||
|
City of Lewisville TX GOL, 5.00%, 02/15/30 (Call 02/15/28) |
325 | 348,847 | ||||||
|
City of San Antonio TX Electric & Gas Systems Revenue RB |
||||||||
|
4.00%, 02/01/28 (Call 08/01/26) |
55 | 55,936 | ||||||
|
5.00%, 02/01/28 |
60 | 64,331 | ||||||
|
5.00%, 02/01/28 (Call 08/01/26) |
125 | 132,147 | ||||||
|
City of San Antonio TX GOL |
||||||||
|
5.00%, 08/01/28 |
75 | 81,125 | ||||||
|
5.00%, 08/01/28 (Call 08/01/27) |
95 | 101,514 | ||||||
|
County of Bexar TX, 5.00%, 06/15/30 (Call 06/15/28) |
100 | 107,681 | ||||||
|
County of Harris TX GOL, 5.00%, 10/01/28 |
250 | 270,633 | ||||||
|
Dallas Fort Worth International Airport RB, 5.00%, 11/01/28 |
105 | 112,068 | ||||||
|
Dallas Independent School District, GO, Series A, 5.00%, 02/15/28 |
250 | 268,157 | ||||||
|
Fort Bend Independent School District GO |
||||||||
|
Series B, 4.00%, 02/15/32 (Call 02/15/28) (PSF) |
75 | 75,707 | ||||||
|
Series C, 5.00%, 08/15/28 (PSF) |
50 | 53,997 | ||||||
|
Frisco Independent School District GO, 5.00%, 08/15/28 (PSF) |
300 | 324,309 | ||||||
|
Georgetown Independent School District GO, Series A, 5.00%, 08/15/29 (Call 08/15/28) (PSF) |
105 | 113,518 | ||||||
|
Grand Parkway Transportation Corp. RB, Series A, 5.00%, 10/01/30 (Call 04/01/28) |
130 | 138,841 | ||||||
|
Grand Prairie Independent School District GO, Series A, 5.00%, 02/15/28 (Call 08/15/26) (PSF) |
80 | 84,431 | ||||||
|
Harris County Toll Road Authority (The) RB |
||||||||
|
5.00%, 08/15/28 |
200 | 216,424 | ||||||
|
Series A, 5.00%, 08/15/32 (Call 02/15/28) |
160 | 170,010 | ||||||
|
Houston Independent School District GOL, 5.00%, 07/15/29 (Call 07/15/28) |
120 | 129,617 | ||||||
|
Katy Independent School District GO, 5.00%, 02/15/31 (Call 02/15/28) (PSF) |
125 | 133,657 | ||||||
|
Killeen Independent School District GO, 5.00%, 02/15/30 (Call 02/15/28) (PSF) |
335 | 360,083 | ||||||
|
Klein Independent School District GO, 5.00%, 08/01/28 (Call 08/01/26) (PSF) |
185 | 194,752 | ||||||
| Security |
Par |
Value | ||||||
|
Texas (continued) |
||||||||
|
Laredo Independent School District GO, 5.00%, 08/01/28 (Call 08/01/27) (PSF) |
$ | 110 | $ | 117,145 | ||||
|
Leander Independent School District GO, Series A, 5.00%, 08/15/31 (Call 02/15/28) (PSF) |
190 | 203,577 | ||||||
|
Lewisville Independent School District GO, 5.00%, 08/15/32 (Call 08/15/28) (PSF) |
375 | 402,478 | ||||||
|
Lone Star College System GOL, 5.00%, 02/15/28 (Call 02/15/26) |
15 | 15,712 | ||||||
|
North East Independent School District/TX GO, 5.00%, 08/01/30 (Call 08/01/28) (PSF) |
50 | 54,175 | ||||||
|
North Texas Municipal Water District RB, 5.00%, 06/01/28 (Call 06/01/26) |
95 | 99,843 | ||||||
|
North Texas Municipal Water District Water System Revenue, 5.00%, 09/01/28 |
405 | 439,588 | ||||||
|
North Texas Tollway Authority RB |
||||||||
|
First Series, 0.00%, 01/01/28(a) |
220 | 175,539 | ||||||
|
Series B, 5.00%, 01/01/28 |
170 | 181,528 | ||||||
|
Northside Independent School District GO |
||||||||
|
5.00%, 08/15/28 (Call 08/15/27) (PSF) |
150 | 160,562 | ||||||
|
5.00%, 08/15/31 (Call 08/15/28) (PSF) |
150 | 161,066 | ||||||
|
Pflugerville Independent School District GO, Series A, 5.00%, 02/15/30 (Call 02/15/28) (PSF) |
100 | 107,338 | ||||||
|
Richardson Independent School District GO, 5.00%, 02/15/30 (Call 02/15/28) (PSF) |
200 | 213,977 | ||||||
|
Round Rock Independent School District GO |
||||||||
|
5.00%, 08/01/31 (Call 08/01/28) (PSF) |
105 | 113,111 | ||||||
|
5.00%, 08/01/32 (Call 08/01/28) (PSF) |
100 | 107,295 | ||||||
|
Series A, 5.00%, 08/01/28 (PSF) |
145 | 157,472 | ||||||
|
San Antonio Independent School District/TX GO |
||||||||
|
5.00%, 08/15/29 (Call 08/15/28) (PSF) |
100 | 108,003 | ||||||
|
5.00%, 08/15/32 (Call 08/15/28) (PSF) |
250 | 267,509 | ||||||
|
San Antonio Water System RB, 5.00%, 05/15/28 |
195 | 210,544 | ||||||
|
Spring Independent School District GO, 5.00%, 08/15/32 (Call 08/15/28) (PSF) |
215 | 231,569 | ||||||
|
State of Texas GO, Series A, 5.00%, 08/01/29 (Call 08/01/28) |
150 | 162,181 | ||||||
|
Temple Independent School District/TX GO, 4.00%, 02/01/28 (Call 02/01/27) (PSF) |
110 | 111,540 | ||||||
|
Texas A&M University RB, Series E, 5.00%, 05/15/28 (Call 05/15/27) |
100 | 106,078 | ||||||
|
Texas Transportation Commission State Highway Fund RB, 5.00%, 10/01/28 (Call 10/01/26) |
200 | 211,340 | ||||||
|
Texas Water Development Board RB |
||||||||
|
Series A, 5.00%, 10/15/28 (Call 04/15/28) |
100 | 108,026 | ||||||
|
Series A, 5.00%, 10/15/31 (Call 04/15/28) |
100 | 107,498 | ||||||
|
Series B, 5.00%, 04/15/28 |
100 | 107,818 | ||||||
|
Series B, 5.00%, 10/15/29 (Call 10/15/28) |
35 | 38,006 | ||||||
|
Series B, 5.00%, 04/15/31 (Call 10/15/28) |
85 | 92,071 | ||||||
|
Series B, 5.00%, 10/15/31 (Call 10/15/28) |
200 | 216,235 | ||||||
|
Trinity River Authority Central Regional Wastewater System Revenue RB, 5.00%, 08/01/32 (Call 08/01/28) |
100 | 107,295 | ||||||
|
|
|
|||||||
| 10,939,888 | ||||||||
| Utah — 1.7% | ||||||||
|
Alpine School District/UT GO, Series B, 5.00%, 03/15/28 (Call 03/15/27) (GTD) |
225 | 240,189 | ||||||
|
City of Provo UT, 5.00%, 02/01/28 |
240 | 259,236 | ||||||
|
City of Provo UT GO, 5.00%, 02/01/30 (Call 08/01/28) |
100 | 108,470 | ||||||
|
Salt Lake City Corp. RB, 5.00%, 02/01/28 (Call 02/01/27) |
265 | 281,902 | ||||||
|
State of Utah GO |
||||||||
|
5.00%, 07/01/28 |
250 | 272,726 | ||||||
|
Series B, 5.00%, 07/01/28 |
110 | 119,999 | ||||||
| 102 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security |
Par |
Value | ||||||
|
Utah (continued) |
||||||||
|
University of Utah (The) RB |
||||||||
|
Series A, 5.00%, 08/01/28 (Call 08/01/27) (SAP) |
$ | 150 | $ | 159,811 | ||||
|
Series B-1, 5.00%, 08/01/28 (Call 08/01/27) (SAP) |
155 | 165,138 | ||||||
|
Utah Water Finance Agency RB, Series A, 5.00%, 03/01/28 (Call 03/01/27) |
45 | 47,734 | ||||||
|
|
|
|||||||
| 1,655,205 | ||||||||
| Virginia — 5.0% | ||||||||
|
City of Virginia Beach VA GO, 5.00%, 04/01/30 (Call 04/01/28) |
185 | 199,679 | ||||||
|
Commonwealth of Virginia GO, Series A, 5.00%, 06/01/30 (Call 06/01/28) |
220 | 238,558 | ||||||
|
County of Arlington VA GO, 5.00%, 08/15/29 (Call 08/15/28) |
125 | 135,686 | ||||||
|
County of Chesterfield VA GO, Series A, 5.00%, 01/01/29 (Call 01/01/28) (SAW) |
55 | 59,350 | ||||||
|
County of Fairfax VA GO |
||||||||
|
Series A, 5.00%, 10/01/28 (Call 04/01/27) (ST AID WITHHLDG) |
250 | 267,477 | ||||||
|
Series A, 5.00%, 10/01/28 (Call 04/01/28) (SAW) |
150 | 162,274 | ||||||
|
Series A, 5.00%, 10/01/30 (Call 04/01/28) (SAW) |
100 | 107,616 | ||||||
|
County of Loudoun VA GO, 5.00%, 12/01/28 (SAW) |
75 | 81,936 | ||||||
|
Fairfax County Industrial Development Authority RB, 5.00%, 05/15/28 |
200 | 213,756 | ||||||
|
Hampton Roads Transportation Accountability Commission, 5.00%, 07/01/52 (PR 01/01/28) |
1,000 | 1,080,548 | ||||||
|
Hampton Roads Transportation Accountability Commission RB, Series A, 5.00%, 07/01/28 |
155 | 165,939 | ||||||
|
Virginia College Building Authority RB |
||||||||
|
5.00%, 02/01/28 (Call 02/01/27) |
110 | 116,713 | ||||||
|
Series A, 5.00%, 09/01/28 (Call 09/01/26) (ST INTERCEPT) |
75 | 79,198 | ||||||
|
Series A, 5.00%, 09/01/28 (PR 09/01/26) (ST INTERCEPT) |
5 | 5,289 | ||||||
|
Series B, 5.00%, 02/01/28 |
135 | 144,879 | ||||||
|
Series E, 5.00%, 02/01/29 (Call 02/01/28) |
160 | 171,238 | ||||||
|
Series E, 5.00%, 02/01/30 (Call 02/01/28) |
240 | 256,564 | ||||||
|
Virginia Commonwealth Transportation Board, 5.00%, 05/15/28 |
105 | 113,535 | ||||||
|
Virginia Commonwealth Transportation Board RB |
||||||||
|
5.00%, 03/15/32 (Call 09/15/28) |
85 | 91,279 | ||||||
|
Series A, 5.00%, 05/15/28 (Call 11/15/27) |
30 | 32,179 | ||||||
|
Virginia Public Building Authority RB |
||||||||
|
5.00%, 08/01/28 |
130 | 140,616 | ||||||
|
Series A, 5.00%, 08/01/28 |
400 | 432,666 | ||||||
|
Virginia Public School Authority RB |
||||||||
|
5.00%, 03/01/28 (SAW) |
45 | 48,633 | ||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/27) (SAW) |
215 | 230,716 | ||||||
|
Virginia Resources Authority RB |
||||||||
|
5.00%, 11/01/28 |
95 | 103,256 | ||||||
|
Series A, 5.00%, 11/01/28 |
80 | 86,952 | ||||||
|
Series A, 5.00%, 11/01/30 (Call 11/01/28) |
115 | 125,238 | ||||||
|
|
|
|||||||
| 4,891,770 | ||||||||
| Washington — 5.2% | ||||||||
|
Auburn School District No. 408 of King & Pierce Counties GO, 5.00%, 12/01/28 (Call 12/01/27) (GTD) |
165 | 177,469 | ||||||
|
Central Puget Sound Regional Transit Authority RB, Series S-1, 5.00%, 11/01/28 (Call 11/01/26) |
100 | 106,049 | ||||||
|
City of Everett WA Water & Sewer Revenue RB, 5.00%, 12/01/28 (Call 12/01/26) |
50 | 52,883 | ||||||
|
City of Seattle WA Drainage & Wastewater Revenue RB, 4.00%, 07/01/28 (Call 07/01/27) |
185 | 190,307 | ||||||
|
City of Seattle WA GOL, 5.00%, 12/01/28 |
75 | 81,806 | ||||||
|
City of Seattle WA Municipal Light & Power Revenue RB Series A, 5.00%, 04/01/28 |
125 | 134,649 | ||||||
| Security |
Par |
Value | ||||||
|
Washington (continued) |
||||||||
|
Series B, 5.00%, 04/01/28 (Call 04/01/26) |
$ | 70 | $ | 73,672 | ||||
|
Series C, 4.00%, 10/01/28 (Call 10/01/26) |
65 | 66,405 | ||||||
|
City of Tacoma WA Electric System Revenue RB, 5.00%, 01/01/28 (Call 01/01/27) |
30 | 31,809 | ||||||
|
Clark County School District No. 37 Vancouver GO, 5.00%, 12/01/28 (GTD) |
145 | 157,742 | ||||||
|
County of King WA GOL, 5.00%, 07/01/28 |
120 | 129,939 | ||||||
|
County of King WA Sewer Revenue RB |
||||||||
|
Series B, 5.00%, 07/01/28 |
100 | 108,015 | ||||||
|
Series B, 5.00%, 07/01/29 (Call 07/01/28) |
385 | 416,505 | ||||||
|
County of Spokane WA GOL, Series B, 5.00%, 12/01/28 |
130 | 141,424 | ||||||
|
Energy Northwest RB |
||||||||
|
5.00%, 07/01/28 |
530 | 571,064 | ||||||
|
Series A, 5.00%, 07/01/28 (Call 07/01/27) |
205 | 218,834 | ||||||
|
Series C, 5.00%, 07/01/30 (Call 07/01/28) |
125 | 134,990 | ||||||
|
King & Snohomish Counties School District No. 417 Northshore GO, 5.00%, 12/01/29 (Call 06/01/28) (GTD) |
145 | 156,634 | ||||||
|
King County School District No. 405 Bellevue GO, 5.00%, 12/01/28 (Call 12/01/26) (GTD) |
55 | 58,409 | ||||||
|
King County School District No. 414 Lake Washington |
||||||||
|
4.00%, 12/01/28 (GTD) |
165 | 170,319 | ||||||
|
5.00%, 12/01/28 (Call 06/01/27) |
100 | 106,339 | ||||||
|
King County School District No. 414 Lake Washington GO, 4.00%, 12/01/28 (Call 06/01/26) (GTD) |
50 | 51,056 | ||||||
|
Port of Seattle WA RB |
||||||||
|
5.00%, 05/01/28 (Call 05/01/27) |
100 | 105,687 | ||||||
|
5.00%, 06/01/28 |
100 | 107,131 | ||||||
|
State of Washington COP, Series B, 5.00%, 07/01/30 (Call 07/01/28) |
230 | 245,938 | ||||||
|
State of Washington GO |
||||||||
|
Series 2017-A, 5.00%, 08/01/28 (Call 08/01/26) |
120 | 126,888 | ||||||
|
Series B, 5.00%, 08/01/28 (Call 08/01/26) |
120 | 126,888 | ||||||
|
Series C, 0.00%, 06/01/28 (NPFGC)(a) |
75 | 60,199 | ||||||
|
Series C, 5.00%, 02/01/30 (Call 02/01/28) |
260 | 279,621 | ||||||
|
Series D, 5.00%, 02/01/31 (Call 02/01/28) |
105 | 112,656 | ||||||
|
Series R, 5.00%, 08/01/28 (Call 08/01/26) |
130 | 137,462 | ||||||
|
University of Washington RB, Series C, 5.00%, 04/01/28 |
240 | 258,527 | ||||||
|
Washington State University RB, 5.00%, 10/01/28 (Call 04/01/26) |
145 | 151,368 | ||||||
|
|
|
|||||||
| 5,048,684 | ||||||||
| West Virginia — 0.9% | ||||||||
|
State of West Virginia GO |
||||||||
|
5.00%, 12/01/30 (Call 06/01/28) |
125 | 134,000 | ||||||
|
Series A, 5.00%, 06/01/28 |
60 | 64,846 | ||||||
|
Series B, 5.00%, 06/01/31 (Call 06/01/28) |
235 | 251,477 | ||||||
|
Series B, 5.00%, 12/01/32 (Call 06/01/28) |
180 | 191,762 | ||||||
|
West Virginia Commissioner of Highways RB, Series A, 5.00%, 09/01/28 (Call 09/01/27) |
185 | 196,775 | ||||||
|
West Virginia State School Building Authority Lottery Revenue RB, Series A, 5.00%, 07/01/30 (Call 07/01/28) |
75 | 80,994 | ||||||
|
|
|
|||||||
| 919,854 | ||||||||
| Wisconsin — 1.0% | ||||||||
|
Milwaukee Metropolitan Sewerage District GO, 4.00%, 10/01/28 |
75 | 77,047 | ||||||
|
State of Wisconsin, 5.00%, 05/01/31 (Call 05/01/28) |
130 | 139,976 | ||||||
|
State of Wisconsin GO |
||||||||
|
5.00%, 11/01/28 (Call 05/01/27) |
50 | 53,425 | ||||||
|
Series 2, 5.00%, 11/01/28 (Call 05/01/26) |
125 | 131,537 | ||||||
|
Series 3, 5.00%, 11/01/28 (Call 05/01/27) |
245 | 261,783 | ||||||
|
S C H E D U L E O F I N V E S T M E N T S |
103 |
|
Schedule of Investments (continued) October 31, 2022 |
iShares® iBonds® Dec 2028 Term Muni Bond ETF (Percentages shown are based on Net Assets) |
| Security | Par/ Shares (000) |
Value | ||||||
|
Wisconsin (continued) |
||||||||
|
State of Wisconsin RB, 5.00%, 05/01/28 (Call 05/01/27) |
$ | 275 | $ | 293,244 | ||||
|
|
|
|||||||
| 957,012 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 98.6% |
|
96,355,989 | ||||||
|
|
|
|||||||
|
Short-Term Securities |
| |||||||
| Money Market Funds — 0.1% | ||||||||
|
BlackRock Liquidity Funds: MuniCash, 1.83%(b)(c) |
161 | 160,840 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 0.1% |
|
160,840 | ||||||
|
|
|
|||||||
|
Total
Investments — 98.7% |
|
96,516,829 | ||||||
|
Other Assets Less Liabilities — 1.3% |
|
1,240,980 | ||||||
|
|
|
|||||||
|
Net Assets — 100.0% |
|
$ | 97,757,809 | |||||
|
|
|
|||||||
| (a) |
Zero-coupon bond. |
| (b) |
Affiliate of the Fund. |
| (c) |
Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the year ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 10/31/22 |
Shares Held at 10/31/22 (000) |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
|
BlackRock Liquidity Funds: MuniCash |
$ | 450,507 | $ | — | $ | (289,459 | )(a) | $ | (201 | ) | $ | (7 | ) | $ | 160,840 | 161 | $ | 4,188 | $ | — | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (a) |
Represents net amount purchased (sold). |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
Investments |
||||||||||||||||
|
Assets |
||||||||||||||||
|
Municipal Debt Obligations |
$ | — | $ | 96,355,989 | $ | — | $ | 96,355,989 | ||||||||
|
Money Market Funds |
160,840 | — | — | 160,840 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 160,840 | $ | 96,355,989 | $ | — | $ | 96,516,829 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
| 104 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Assets and Liabilities
October 31, 2022
|
iShares |
iShares |
iShares |
iShares |
|||||||||||||
|
|
||||||||||||||||
|
ASSETS |
||||||||||||||||
|
Investments, at value — unaffiliated(a) |
$ | 415,296,155 | $ | 481,883,200 | $ | 498,286,773 | $ | 307,448,705 | ||||||||
|
Investments, at value — affiliated(b) |
4,841,340 | 2,259,207 | 1,855,612 | 1,305,035 | ||||||||||||
|
Receivables: |
||||||||||||||||
|
Dividends — unaffiliated |
29,015 | 4,346 | 8,679 | 1,945 | ||||||||||||
|
Interest — unaffiliated |
4,454,614 | 6,962,636 | 6,903,293 | 4,159,560 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total assets |
424,621,124 | 491,109,389 | 507,054,357 | 312,915,245 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
LIABILITIES |
||||||||||||||||
|
Payables: |
||||||||||||||||
|
Investments purchased |
7,270,639 | 1,323,451 | 903,591 | 856,914 | ||||||||||||
|
Capital shares redeemed |
7,775,542 | — | — | — | ||||||||||||
|
Investment advisory fees |
63,669 | 73,634 | 73,382 | 46,702 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total liabilities |
15,109,850 | 1,397,085 | 976,973 | 903,616 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 409,511,274 | $ | 489,712,304 | $ | 506,077,384 | $ | 312,011,629 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS CONSIST OF |
||||||||||||||||
|
Paid-in capital |
$ | 409,071,949 | $ | 494,947,735 | $ | 518,592,940 | $ | 326,745,909 | ||||||||
|
Accumulated earnings (loss) |
439,325 | (5,235,431 | ) | (12,515,556 | ) | (14,734,280 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
$ | 409,511,274 | $ | 489,712,304 | $ | 506,077,384 | $ | 312,011,629 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSET VALUE |
||||||||||||||||
|
Shares outstanding |
15,800,000 | 19,400,000 | 19,850,000 | 12,050,000 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value |
$ | 25.92 | $ | 25.24 | $ | 25.50 | $ | 25.89 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Shares authorized |
Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Par value |
None | None | None | None | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
(a) Investments, at cost — unaffiliated |
$ | 415,406,346 | $ | 487,548,417 | $ | 511,343,020 | $ | 322,495,665 | ||||||||
|
(b) Investments, at cost — affiliated |
$ | 4,841,340 | $ | 2,259,207 | $ | 1,855,612 | $ | 1,305,035 | ||||||||
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
105 |
Statements of Assets and Liabilities (continued)
October 31, 2022
|
iShares |
iShares |
iShares |
||||||||||
|
|
||||||||||||
|
ASSETS |
||||||||||||
|
Investments, at value — unaffiliated(a) |
$ | 208,050,686 | $ | 169,487,690 | $ | 96,355,989 | ||||||
|
Investments, at value — affiliated(b) |
1,314,764 | 1,191,388 | 160,840 | |||||||||
|
Receivables: |
||||||||||||
|
Dividends — unaffiliated |
2,232 | 3,673 | 2,214 | |||||||||
|
Interest — unaffiliated |
2,821,017 | 2,368,311 | 1,252,578 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total assets |
212,188,699 | 173,051,062 | 97,771,621 | |||||||||
|
|
|
|
|
|
|
|||||||
|
LIABILITIES |
||||||||||||
|
Payables: |
||||||||||||
|
Investments purchased |
823,817 | 453,102 | — | |||||||||
|
Investment advisory fees |
31,448 | 24,701 | 13,812 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total liabilities |
855,265 | 477,803 | 13,812 | |||||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS |
$ | 211,333,434 | $ | 172,573,259 | $ | 97,757,809 | ||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS CONSIST OF |
||||||||||||
|
Paid-in capital |
$ | 225,370,926 | $ | 182,346,027 | $ | 105,859,095 | ||||||
|
Accumulated loss |
(14,037,492 | ) | (9,772,768 | ) | (8,101,286 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSETS |
$ | 211,333,434 | $ | 172,573,259 | $ | 97,757,809 | ||||||
|
|
|
|
|
|
|
|||||||
|
NET ASSET VALUE |
||||||||||||
|
Shares outstanding |
8,600,000 | 7,100,000 | 4,050,000 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Net asset value |
$ | 24.57 | $ | 24.31 | $ | 24.14 | ||||||
|
|
|
|
|
|
|
|||||||
|
Shares authorized |
Unlimited | Unlimited | Unlimited | |||||||||
|
|
|
|
|
|
|
|||||||
|
Par value |
None | None | None | |||||||||
|
|
|
|
|
|
|
|||||||
|
(a) Investments, at cost — unaffiliated |
$ | 222,097,423 | $ | 179,482,280 | $ | 104,553,887 | ||||||
|
(b) Investments, at cost — affiliated |
$ | 1,314,764 | $ | 1,191,388 | $ | 160,840 | ||||||
See notes to financial statements.
| 106 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Year Ended October 31, 2022
|
iShares |
iShares |
iShares |
iShares |
|||||||||||||
|
|
||||||||||||||||
|
INVESTMENT INCOME |
||||||||||||||||
|
Dividends — affiliated |
$ | 63,710 | $ | 11,473 | $ | 18,792 | $ | 9,204 | ||||||||
|
Interest — unaffiliated |
5,441,099 | 5,271,741 | 4,218,570 | 2,593,709 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total investment income |
5,504,809 | 5,283,214 | 4,237,362 | 2,602,913 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
EXPENSES |
||||||||||||||||
|
Investment advisory |
724,781 | 724,679 | 603,136 | 423,340 | ||||||||||||
|
Professional |
217 | 217 | — | — | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total expenses |
724,998 | 724,896 | 603,136 | 423,340 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
4,779,811 | 4,558,318 | 3,634,226 | 2,179,573 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||||||
|
Net realized gain (loss) from: |
||||||||||||||||
|
Investments — unaffiliated |
(64,820 | ) | (39,606 | ) | (16,418 | ) | (396 | ) | ||||||||
|
Investments — affiliated |
4,908 | 266 | 330 | 96 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
|
(59,912 | ) | (39,340 | ) | (16,088 | ) | (300 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||||||||||
|
Investments — unaffiliated |
(3,311,634 | ) | (10,987,665 | ) | (16,971,254 | ) | (17,069,417 | ) | ||||||||
|
Investments — affiliated |
(18 | ) | — | (9 | ) | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
|
(3,311,652 | ) | (10,987,665 | ) | (16,971,263 | ) | (17,069,417 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net realized and unrealized loss |
(3,371,564 | ) | (11,027,005 | ) | (16,987,351 | ) | (17,069,717 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS |
$ | 1,408,247 | $ | (6,468,687 | ) | $ | (13,353,125 | ) | $ | (14,890,144 | ) | |||||
|
|
|
|
|
|
|
|
|
|||||||||
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
107 |
Statements of Operations (continued)
Year Ended October 31, 2022
|
iShares |
iShares |
iShares |
||||||||||
|
|
||||||||||||
|
INVESTMENT INCOME |
||||||||||||
|
Dividends — affiliated |
$ | 7,240 | $ | 9,112 | $ | 4,188 | ||||||
|
Interest — unaffiliated |
1,663,312 | 1,451,218 | 1,078,567 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total investment income |
1,670,552 | 1,460,330 | 1,082,755 | |||||||||
|
|
|
|
|
|
|
|||||||
|
EXPENSES |
||||||||||||
|
Investment advisory |
299,135 | 183,030 | 143,437 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Total expenses |
299,135 | 183,030 | 143,437 | |||||||||
|
|
|
|
|
|
|
|||||||
|
Net investment income |
1,371,417 | 1,277,300 | 939,318 | |||||||||
|
|
|
|
|
|
|
|||||||
|
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||||
|
Net realized gain (loss) from: |
||||||||||||
|
Investments — unaffiliated |
(202,098 | ) | (8,485 | ) | (10,342 | ) | ||||||
|
Investments — affiliated |
278 | 348 | (201 | ) | ||||||||
|
|
|
|
|
|
|
|||||||
|
|
(201,820 | ) | (8,137 | ) | (10,543 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||||||
|
Investments — unaffiliated |
(14,541,895 | ) | (10,458,420 | ) | (9,129,516 | ) | ||||||
|
Investments — affiliated |
(6 | ) | — | (7 | ) | |||||||
|
|
|
|
|
|
|
|||||||
|
|
(14,541,901 | ) | (10,458,420 | ) | (9,129,523 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
Net realized and unrealized loss |
(14,743,721 | ) | (10,466,557 | ) | (9,140,066 | ) | ||||||
|
|
|
|
|
|
|
|||||||
|
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (13,372,304 | ) | $ | (9,189,257 | ) | $ | (8,200,748 | ) | |||
|
|
|
|
|
|
|
|||||||
See notes to financial statements.
| 108 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets
| iShares iBonds Dec 2022 Term Muni Bond ETF |
iShares iBonds Dec 2023 Term Muni Bond ETF |
|||||||||||||||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|||||||||||||
|
|
||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
|
OPERATIONS |
||||||||||||||||
|
Net investment income |
$ | 4,779,811 | $ | 4,669,814 | $ | 4,558,318 | $ | 3,591,126 | ||||||||
|
Net realized gain (loss) |
(59,912 | ) | 4,697 | (39,340 | ) | (2,551 | ) | |||||||||
|
Net change in unrealized appreciation (depreciation) |
(3,311,652 | ) | (3,578,887 | ) | (10,987,665 | ) | (2,371,071 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from operations |
1,408,247 | 1,095,624 | (6,468,687 | ) | 1,217,504 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(4,660,420 | ) | (4,579,553 | ) | (4,402,542 | ) | (3,555,641 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
|
Net increase in net assets derived from capital share transactions |
33,656,716 | 26,361,381 | 164,108,809 | 62,734,199 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
||||||||||||||||
|
Total increase in net assets |
30,404,543 | 22,877,452 | 153,237,580 | 60,396,062 | ||||||||||||
|
Beginning of year |
379,106,731 | 356,229,279 | 336,474,724 | 276,078,662 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
End of year |
$ | 409,511,274 | $ | 379,106,731 | $ | 489,712,304 | $ | 336,474,724 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
109 |
Statements of Changes in Net Assets (continued)
| iShares iBonds Dec 2024 Term Muni Bond ETF |
iShares iBonds Dec 2025 Term Muni Bond ETF |
|||||||||||||||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|||||||||||||
|
|
||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
|
OPERATIONS |
||||||||||||||||
|
Net investment income |
$ | 3,634,226 | $ | 1,952,590 | $ | 2,179,573 | $ | 1,107,607 | ||||||||
|
Net realized gain (loss) |
(16,088 | ) | 343 | (300 | ) | (178 | ) | |||||||||
|
Net change in unrealized appreciation (depreciation) |
(16,971,263 | ) | (1,200,840 | ) | (17,069,417 | ) | (996,091 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from operations |
(13,353,125 | ) | 752,093 | (14,890,144 | ) | 111,338 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(3,252,271 | ) | (1,922,743 | ) | (1,962,656 | ) | (1,083,369 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
|
Net increase in net assets derived from capital share transactions |
279,449,453 | 64,837,544 | 146,374,083 | 64,441,736 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
||||||||||||||||
|
Total increase in net assets |
262,844,057 | 63,666,894 | 129,521,283 | 63,469,705 | ||||||||||||
|
Beginning of period |
243,233,327 | 179,566,433 | 182,490,346 | 119,020,641 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
End of period |
$ | 506,077,384 | $ | 243,233,327 | $ | 312,011,629 | $ | 182,490,346 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
| 110 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets (continued)
| iShares iBonds Dec 2026 Term Muni Bond ETF |
iShares iBonds Dec 2027 Term Muni Bond ETF |
|||||||||||||||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
|||||||||||||
|
|
||||||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
|
OPERATIONS |
||||||||||||||||
|
Net investment income |
$ | 1,371,417 | $ | 639,208 | $ | 1,277,300 | $ | 441,621 | ||||||||
|
Net realized gain (loss) |
(201,820 | ) | 41,109 | (8,137 | ) | (893 | ) | |||||||||
|
Net change in unrealized appreciation (depreciation) |
(14,541,901 | ) | (581,422 | ) | (10,458,420 | ) | (362,379 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from operations |
(13,372,304 | ) | 98,895 | (9,189,257 | ) | 78,349 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(1,245,087 | ) | (601,032 | ) | (1,087,220 | ) | (428,577 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
|
Net increase in net assets derived from capital share transactions |
102,749,159 | 60,707,292 | 121,047,488 | 24,465,240 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
||||||||||||||||
|
Total increase in net assets |
88,131,768 | 60,205,155 | 110,771,011 | 24,115,012 | ||||||||||||
|
Beginning of year |
123,201,666 | 62,996,511 | 61,802,248 | 37,687,236 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
End of year |
$ | 211,333,434 | $ | 123,201,666 | $ | 172,573,259 | $ | 61,802,248 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
111 |
Statements of Changes in Net Assets (continued)
| iShares iBonds Dec 2028 Term Muni Bond ETF |
||||||||
|
Year Ended |
Year Ended |
|||||||
|
|
||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||
|
OPERATIONS |
||||||||
|
Net investment income |
$ | 939,318 | $ | 682,129 | ||||
|
Net realized loss |
(10,543 | ) | (47 | ) | ||||
|
Net change in unrealized appreciation (depreciation) |
(9,129,523 | ) | (391,177 | ) | ||||
|
|
|
|
|
|||||
|
Net increase (decrease) in net assets resulting from operations |
(8,200,748 | ) | 290,905 | |||||
|
|
|
|
|
|||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(895,195 | ) | (668,473 | ) | ||||
|
|
|
|
|
|||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||
|
Net increase in net assets derived from capital share transactions |
35,120,500 | 20,585,468 | ||||||
|
|
|
|
|
|||||
|
NET ASSETS |
||||||||
|
Total increase in net assets |
26,024,557 | 20,207,900 | ||||||
|
Beginning of year |
71,733,252 | 51,525,352 | ||||||
|
|
|
|
|
|||||
|
End of year |
$ | 97,757,809 | $ | 71,733,252 | ||||
|
|
|
|
|
|||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
| 112 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
(For a share outstanding throughout each period)
| iShares iBonds Dec 2022 Term Muni Bond ETF | ||||||||||||||||||||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
Year Ended |
||||||||||||||||
|
|
||||||||||||||||||||
|
Net asset value, beginning of year |
$ | 26.15 | $ | 26.39 | $ | 26.16 | $ | 25.29 | $ | 25.97 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income(a) |
0.31 | 0.33 | 0.38 | 0.41 | 0.39 | |||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(0.24 | ) | (0.25 | ) | 0.23 | 0.86 | (0.70 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) from investment operations |
0.07 | 0.08 | 0.61 | 1.27 | (0.31 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Distributions from net investment income(c) |
(0.30 | ) | (0.32 | ) | (0.38 | ) | (0.40 | ) | (0.37 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net asset value, end of year |
$ | 25.92 | $ | 26.15 | $ | 26.39 | $ | 26.16 | $ | 25.29 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total Return(d) |
||||||||||||||||||||
|
Based on net asset value |
0.32 | % | 0.27 | % | 2.33 | % | 5.04 | % | (1.18 | )% | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Ratios to Average Net Assets(e) |
||||||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income |
1.19 | % | 1.24 | % | 1.43 | % | 1.56 | % | 1.52 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Supplemental Data |
||||||||||||||||||||
|
Net assets, end of year (000) |
$ | 409,511 | $ | 379,107 | $ | 356,229 | $ | 329,633 | $ | 232,703 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Portfolio turnover rate(f) |
87 | % | 0 | %(g) | 0 | %(g) | 0 | %(g) | 0 | %(g) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (f) |
Portfolio turnover rate excludes in-kind transactions. |
| (g) |
Rounds to less than 1%. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
113 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2023 Term Muni Bond ETF | ||||||||||||||||||||
|
Year Ended |
Year Ended |
Year Ended |
Year Ended |
Year Ended |
||||||||||||||||
|
|
||||||||||||||||||||
|
Net asset value, beginning of year |
$ | 25.98 | $ | 26.17 | $ | 25.79 | $ | 24.68 | $ | 25.41 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income(a) |
0.29 | 0.30 | 0.39 | 0.45 | 0.43 | |||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(0.75 | ) | (0.19 | ) | 0.38 | 1.10 | (0.78 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) from investment operations |
(0.46 | ) | 0.11 | 0.77 | 1.55 | (0.35 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Distributions from net investment income(c) |
(0.28 | ) | (0.30 | ) | (0.39 | ) | (0.44 | ) | (0.38 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net asset value, end of year |
$ | 25.24 | $ | 25.98 | $ | 26.17 | $ | 25.79 | $ | 24.68 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total Return(d) |
||||||||||||||||||||
|
Based on net asset value |
(1.76 | )% | 0.43 | % | 3.02 | % | 6.31 | % | (1.37 | )% | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Ratios to Average Net Assets(e) |
||||||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income |
1.13 | % | 1.15 | % | 1.49 | % | 1.75 | % | 1.72 | % | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Supplemental Data |
||||||||||||||||||||
|
Net assets, end of year (000) |
$ | 489,712 | $ | 336,475 | $ | 276,079 | $ | 215,376 | $ | 115,977 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Portfolio turnover rate(f) |
1 | % | 0 | %(g) | 1 | % | 0 | %(g) | 0 | %(g) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (f) |
Portfolio turnover rate excludes in-kind transactions. |
| (g) |
Rounds to less than 1%. |
See notes to financial statements.
| 114 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2024 Term Muni Bond ETF | ||||||||||||||||||||
| |
Year Ended 10/31/22 |
|
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Year Ended 10/31/19 |
|
|
Period From 03/20/18 to 10/31/18 |
(a)
| ||||||
|
|
||||||||||||||||||||
|
Net asset value, beginning of period |
$ | 26.88 | $ | 27.00 | $ | 26.38 | $ | 24.90 | $ | 24.98 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income(b) |
0.28 | 0.24 | 0.36 | 0.48 | 0.32 | |||||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(1.41 | ) | (0.12 | ) | 0.62 | 1.48 | (0.15 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net increase (decrease) from investment operations |
(1.13 | ) | 0.12 | 0.98 | 1.96 | 0.17 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Distributions(d) |
||||||||||||||||||||
|
Distributions from net investment income |
(0.25 | ) | (0.24 | ) | (0.36 | ) | (0.48 | ) | (0.25 | ) | ||||||||||
|
From net realized gain |
— | — | (0.00 | )(e) | — | — | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total distributions |
(0.25 | ) | (0.24 | ) | (0.36 | ) | (0.48 | ) | (0.25 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net asset value, end of period |
$ | 25.50 | $ | 26.88 | $ | 27.00 | $ | 26.38 | $ | 24.90 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Total Return(f) |
||||||||||||||||||||
|
Based on net asset value |
(4.20 | )% | 0.42 | % | 3.75 | % | 7.91 | % | 0.70 | %(g) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Ratios to Average Net Assets(h) |
||||||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(i) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Net investment income |
1.08 | % | 0.90 | % | 1.35 | % | 1.85 | % | 2.08 | %(i) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Supplemental Data |
||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 506,077 | $ | 243,233 | $ | 179,566 | $ | 104,214 | $ | 23,654 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Portfolio turnover rate(j) |
0 | % | 0 | % | 0 | %(k) | 0 | %(k) | 0 | %(k) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (e) |
Rounds to less than $0.01. |
| (f) |
Where applicable, assumes the reinvestment of distributions. |
| (g) |
Not annualized. |
| (h) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (i) |
Annualized. |
| (j) |
Portfolio turnover rate excludes in-kind transactions. |
| (k) |
Rounds to less than 1%. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
115 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2025 Term Muni Bond ETF | ||||||||||||||||
| |
Year Ended 10/31/22 |
|
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 11/13/18 to 10/31/19 |
(a)
| |||||
|
|
||||||||||||||||
|
Net asset value, beginning of period |
$ | 27.86 | $ | 28.00 | $ | 27.13 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income(b) |
0.25 | 0.20 | 0.34 | 0.46 | ||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(2.00 | ) | (0.13 | ) | 0.88 | 2.08 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) from investment operations |
(1.75 | ) | 0.07 | 1.22 | 2.54 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Distributions from net investment income(d) |
(0.22 | ) | (0.21 | ) | (0.35 | ) | (0.41 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value, end of period |
$ | 25.89 | $ | 27.86 | $ | 28.00 | $ | 27.13 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total Return(e) |
||||||||||||||||
|
Based on net asset value |
(6.31 | )% | 0.23 | % | 4.53 | % | 10.22 | %(f) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Ratios to Average Net Assets |
||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(g) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
0.93 | % | 0.73 | % | 1.21 | % | 1.76 | %(g) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Supplemental Data |
||||||||||||||||
|
Net assets, end of period (000) |
$ | 312,012 | $ | 182,490 | $ | 119,021 | $ | 43,407 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Portfolio turnover rate(h) |
0 | % | 0 | %(i) | 0 | %(i) | 0 | %(i) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (e) |
Where applicable, assumes the reinvestment of distributions. |
| (f) |
Not annualized. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
| (i) |
Rounds to less than 1%. |
See notes to financial statements.
| 116 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2026 Term Muni Bond ETF | ||||||||||||||||
| |
Year Ended 10/31/22 |
|
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/02/19 to 10/31/19 |
(a)
| |||||
|
|
||||||||||||||||
|
Net asset value, beginning of period |
$ | 26.78 | $ | 26.81 | $ | 25.89 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income(b) |
0.21 | 0.18 | 0.30 | 0.21 | ||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(2.23 | ) | (0.03 | ) | 0.92 | 0.87 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) from investment operations |
(2.02 | ) | 0.15 | 1.22 | 1.08 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Distributions from net investment income(d) |
(0.19 | ) | (0.18 | ) | (0.30 | ) | (0.19 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value, end of period |
$ | 24.57 | $ | 26.78 | $ | 26.81 | $ | 25.89 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total Return(e) |
||||||||||||||||
|
Based on net asset value |
(7.55 | )% | 0.54 | % | 4.80 | % | 4.28 | %(f) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
0.83 | % | 0.66 | % | 1.13 | % | 1.42 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Supplemental Data |
||||||||||||||||
|
Net assets, end of period (000) |
$ | 211,333 | $ | 123,202 | $ | 62,997 | $ | 20,711 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Portfolio turnover rate(i) |
2 | % | 2 | % | 0 | % | 0 | % | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (e) |
Where applicable, assumes the reinvestment of distributions. |
| (f) |
Not annualized. |
| (g) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (h) |
Annualized. |
| (i) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
117 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2027 Term Muni Bond ETF | ||||||||||||||||
| |
Year Ended 10/31/22 |
|
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/09/19 to 10/31/19 |
(a)
| |||||
|
|
||||||||||||||||
|
Net asset value, beginning of period |
$ | 26.87 | $ | 26.92 | $ | 25.97 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income(b) |
0.32 | 0.24 | 0.33 | 0.22 | ||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(2.62 | ) | (0.05 | ) | 0.95 | 0.95 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) from investment operations |
(2.30 | ) | 0.19 | 1.28 | 1.17 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Distributions from net investment income(d) |
(0.26 | ) | (0.24 | ) | (0.33 | ) | (0.20 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value, end of period |
$ | 24.31 | $ | 26.87 | $ | 26.92 | $ | 25.97 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total Return(e) |
||||||||||||||||
|
Based on net asset value |
(8.60 | )% | 0.72 | % | 5.00 | % | 4.63 | %(f) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
1.26 | % | 0.89 | % | 1.24 | % | 1.53 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Supplemental Data |
||||||||||||||||
|
Net assets, end of period (000) |
$ | 172,573 | $ | 61,802 | $ | 37,687 | $ | 16,877 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Portfolio turnover rate(i) |
0 | % | 0 | %(j) | 0 | % | 0 | % | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (e) |
Where applicable, assumes the reinvestment of distributions. |
| (f) |
Not annualized. |
| (g) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (h) |
Annualized. |
| (i) |
Portfolio turnover rate excludes in-kind transactions. |
| (j) |
Rounds to less than 1%. |
See notes to financial statements.
| 118 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights (continued)
(For a share outstanding throughout each period)
| iShares iBonds Dec 2028 Term Muni Bond ETF | ||||||||||||||||
| |
Year Ended 10/31/22 |
|
|
Year Ended 10/31/21 |
|
|
Year Ended 10/31/20 |
|
|
Period From 04/16/19 to 10/31/19 |
(a)
| |||||
|
|
||||||||||||||||
|
Net asset value, beginning of period |
$ | 27.07 | $ | 27.12 | $ | 26.10 | $ | 25.00 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income(b) |
0.30 | 0.30 | 0.36 | 0.21 | ||||||||||||
|
Net realized and unrealized gain (loss)(c) |
(2.94 | ) | (0.05 | ) | 1.00 | 1.08 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) from investment operations |
(2.64 | ) | 0.25 | 1.36 | 1.29 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Distributions from net investment income(d) |
(0.29 | ) | (0.30 | ) | (0.34 | ) | (0.19 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net asset value, end of period |
$ | 24.14 | $ | 27.07 | $ | 27.12 | $ | 26.10 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Total Return(e) |
||||||||||||||||
|
Based on net asset value |
(9.82 | )% | 0.90 | % | 5.26 | % | 5.15 | %(f) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Ratios to Average Net Assets(g) |
||||||||||||||||
|
Total expenses |
0.18 | % | 0.18 | % | 0.18 | % | 0.18 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net investment income |
1.18 | % | 1.08 | % | 1.33 | % | 1.49 | %(h) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Supplemental Data |
||||||||||||||||
|
Net assets, end of period (000) |
$ | 97,758 | $ | 71,733 | $ | 51,525 | $ | 24,796 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Portfolio turnover rate(i) |
0 | % | 0 | % | 0 | % | 0 | % | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Commencement of operations. |
| (b) |
Based on average shares outstanding. |
| (c) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (d) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (e) |
Where applicable, assumes the reinvestment of distributions. |
| (f) |
Not annualized. |
| (g) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (h) |
Annualized. |
| (i) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
119 |
| 1. |
ORGANIZATION |
iShares Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.
These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):
| iShares ETF | Diversification Classification |
|||
|
iBonds Dec 2022 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2023 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2024 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2025 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2026 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2027 Term Muni Bond |
Diversified | |||
|
iBonds Dec 2028 Term Muni Bond |
Diversified | |||
| 2. |
SIGNIFICANT ACCOUNTING POLICIES |
The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:
Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.
In-kind Redemptions: For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds’ tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.
Distributions: Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.
Indemnifications: In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.
| 3. |
INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
Investment Valuation Policies: Each Fund’s investments are valued at fair value (also referred to as “market value” within the financial statements) each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the “Board”) of each Fund has approved the designation of BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA’s policies. If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA’s policies and procedures as reflecting fair value. BFA has formed a committee (the “Valuation Committee”) to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.
Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of each Fund’s assets and liabilities:
| • |
Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed income securities assuming orderly transactions of an institutional round lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows |
| 120 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
|
of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless BFA determines such method does not represent fair value. |
| • |
Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA’s policies and procedures as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.
Fair value pricing could result in a difference between the prices used to calculate a fund’s NAV and the prices used by the fund’s underlying index, which in turn could result in a difference between the fund’s performance and the performance of the fund’s underlying index.
Fair Value Hierarchy: Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| • |
Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
| • |
Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
| • |
Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available, (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
| 4. |
SECURITIES AND OTHER INVESTMENTS |
Zero-Coupon Bonds: Zero-coupon bonds are normally issued at a significant discount from face value and do not provide for periodic interest payments. These bonds may experience greater volatility in market value than other debt obligations of similar maturity which provide for regular interest payments.
| 5. |
INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BlackRock Fund Advisors (“BFA”) manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock, Inc. (“BlackRock”). Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).
For its investment advisory services to each Fund, BFA is entitled to an annual investment advisory fee of 0.18%, accrued daily and paid monthly by the Funds, based on the average daily net assets of each Fund.
Distributor: BlackRock Investments, LLC, an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
121 |
Notes to Financial Statements (continued)
Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.
For the year ended October 31, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:
|
iShares ETF
|
Purchases
|
Sales
|
Net Realized
|
|||||||||
|
iBonds Dec 2022 Term Muni Bond |
$ | 2,175,211 | $ | 3,393,396 | $ | — | ||||||
Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends – affiliated in the Statements of Operations.
A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.
| 6. |
PURCHASES AND SALES |
For the year ended October 31, 2022, purchases and sales of investments, including mortgage dollar rolls and excluding short-term securities and in-kind transactions, were as follows:
|
iShares ETF
|
Purchases
|
Sales
|
||||||
|
iBonds Dec 2022 Term Muni Bond |
$ | 308,822,382 | $ | 343,312,196 | ||||
|
iBonds Dec 2023 Term Muni Bond |
136,793,779 | 4,046,464 | ||||||
|
iBonds Dec 2024 Term Muni Bond |
286,682,795 | 577,567 | ||||||
|
iBonds Dec 2025 Term Muni Bond |
152,040,183 | 5,406 | ||||||
|
iBonds Dec 2026 Term Muni Bond |
110,608,532 | 4,073,477 | ||||||
|
iBonds Dec 2027 Term Muni Bond |
122,023,886 | 225,194 | ||||||
|
iBonds Dec 2028 Term Muni Bond |
37,317,328 | 138,340 | ||||||
There were no in-kind transactions for the year ended October 31, 2022.
| 7. |
INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
Management has analyzed tax laws and regulations and their application to the Funds as of October 31, 2022, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.
U.S. GAAP requires that certain components of net assets be adjusted to reflect permanent differences between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share. As of October 31, 2022, permanent differences attributable to undistributed capital gains were reclassified to the following accounts:
|
iShares ETF
|
Paid-in Capital
|
Accumulated
|
||||||
|
iBonds Dec 2026 Term Muni Bond |
$ | 28,758 | $ | (28,758 | ) | |||
The tax character of distributions paid was as follows:
|
iShares ETF
|
Year Ended
|
Year Ended
|
||||||
|
iBonds Dec 2022 Term Muni Bond
Tax-exempt income |
$ | 4,660,248 | $ | 4,579,334 | ||||
|
Ordinary income |
172 | 219 | ||||||
|
|
|
|
|
|||||
|
$ |
4,660,420 |
|
$ |
4,579,553 |
| |||
|
|
|
|
|
|||||
|
iBonds
Dec 2023 Term Muni Bond |
$ | 4,402,542 | $ | 3,555,641 | ||||
|
|
|
|
|
|||||
| 122 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Notes to Financial Statements (continued) |
|
iShares ETF
|
Year Ended
|
Year Ended
|
||||||
|
iBonds Dec 2024 Term Muni Bond
Tax-exempt income |
$ | 3,251,981 | $ | 1,922,500 | ||||
|
Ordinary income |
290 | 243 | ||||||
|
|
|
|
|
|||||
|
$ |
3,252,271 |
|
$ | 1,922,743 | ||||
|
|
|
|
|
|||||
|
iBonds Dec 2025 Term Muni Bond
Tax-exempt income |
$ | 1,962,320 | $ | 1,083,369 | ||||
|
Ordinary income |
336 | — | ||||||
|
|
|
|
|
|||||
|
$ |
1,962,656 |
|
$ | 1,083,369 | ||||
|
|
|
|
|
|||||
|
iBonds Dec 2026 Term Muni Bond
Tax-exempt income |
$ | 1,232,856 | $ | 601,032 | ||||
|
Ordinary income |
12,231 | — | ||||||
|
|
|
|
|
|||||
|
$ |
1,245,087 |
|
$ | 601,032 | ||||
|
|
|
|
|
|||||
|
iBonds Dec 2027 Term Muni Bond
Tax-exempt income |
$ | 1,087,220 | $ | 428,577 | ||||
|
|
|
|
|
|||||
|
iBonds Dec 2028 Term Muni Bond
Tax-exempt income |
$ | 895,191 | $ | 668,473 | ||||
|
Ordinary income |
4 | — | ||||||
|
|
|
|
|
|||||
|
$ |
895,195 |
|
$ | 668,473 | ||||
|
|
|
|
|
|||||
As of October 31, 2022, the tax components of accumulated net earnings (losses) were as follows:
|
iShares ETF
|
|
Undistributed Ordinary Income
|
|
|
Non-expiring Capital Loss Carryforwards
|
(a)
|
|
Net Unrealized Gains (Losses)
|
(b)
|
|
Total
|
| ||||
|
iBonds Dec 2022 Term Muni Bond |
$ | 620,915 | $ | (69,671 | ) | $ | (111,919 | ) | $ | 439,325 | ||||||
|
iBonds Dec 2023 Term Muni Bond |
473,056 | (41,991 | ) | (5,666,496 | ) | (5,235,431 | ) | |||||||||
|
iBonds Dec 2024 Term Muni Bond |
556,989 | (15,753 | ) | (13,056,792 | ) | (12,515,556 | ) | |||||||||
|
iBonds Dec 2025 Term Muni Bond |
313,547 | — | (15,047,827 | ) | (14,734,280 | ) | ||||||||||
|
iBonds Dec 2026 Term Muni Bond |
211,105 | (201,606 | ) | (14,046,991 | ) | (14,037,492 | ) | |||||||||
|
iBonds Dec 2027 Term Muni Bond |
230,855 | (1,825 | ) | (10,001,798 | ) | (9,772,768 | ) | |||||||||
|
iBonds Dec 2028 Term Muni Bond |
107,352 | (10,611 | ) | (8,198,027 | ) | (8,101,286 | ) | |||||||||
| (a) |
Amounts available to offset future realized capital gains. |
| (b) |
The difference between book-basis and tax-basis unrealized gains (losses) was attributable primarily to the tax deferral of losses on wash sales and amortization methods for premiums and discounts on fixed income securities. |
For the year ended October 31, 2022, the Funds listed below utilized the following amounts of their respective capital loss carryforwards:
|
iShares ETF
|
Utilized
|
|||
|
iBonds Dec 2025 Term Muni Bond
|
$
|
28
|
| |
As of October 31, 2022, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:
|
iShares ETF
|
Tax Cost
|
Gross Unrealized
|
Gross Unrealized
|
Net Unrealized
|
||||||||||||
|
iBonds Dec 2022 Term Muni Bond |
$ | 420,249,414 | $ | 45 | $ | (111,964 | ) | $ | (111,919 | ) | ||||||
|
iBonds Dec 2023 Term Muni Bond |
489,808,903 | 55 | (5,666,551 | ) | (5,666,496 | ) | ||||||||||
|
iBonds Dec 2024 Term Muni Bond |
513,199,177 | 750 | (13,057,542 | ) | (13,056,792 | ) | ||||||||||
|
iBonds Dec 2025 Term Muni Bond |
323,801,567 | 2,267 | (15,050,094 | ) | (15,047,827 | ) | ||||||||||
|
iBonds Dec 2026 Term Muni Bond |
223,412,441 | 8,228 | (14,055,219 | ) | (14,046,991 | ) | ||||||||||
|
iBonds Dec 2027 Term Muni Bond |
180,680,876 | 3,446 | (10,005,244 | ) | (10,001,798 | ) | ||||||||||
|
iBonds Dec 2028 Term Muni Bond |
104,714,856 | 3,023 | (8,201,050 | ) | (8,198,027 | ) | ||||||||||
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
123 |
Notes to Financial Statements (continued)
| 8. |
PRINCIPAL RISKS |
In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.
BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.
Market Risk: Each Fund may be exposed to prepayment risk, which is the risk that borrowers may exercise their option to prepay principal earlier than scheduled during periods of declining interest rates, which would force each Fund to reinvest in lower yielding securities. Each Fund may also be exposed to reinvestment risk, which is the risk that income from each Fund’s portfolio will decline if each Fund invests the proceeds from matured, traded or called fixed-income securities at market interest rates that are below each Fund portfolio’s current earnings rate.
Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities. Municipal securities can be significantly affected by political or economic changes, including changes made in the law after issuance of the securities, as well as uncertainties in the municipal market related to, taxation, legislative changes or the rights of municipal security holders, including in connection with an issuer insolvency. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the discontinuance of the tax benefits supporting the project or assets or the inability to collect revenues for the project or from the assets. Municipal securities may be less liquid than taxable bonds, and there may be less publicly available information on the financial condition of municipal security issuers than for issuers of other securities.
An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.
Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.
Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its Schedule of Investments.
The Funds invest a significant portion of their assets in fixed-income securities and/or use derivatives tied to the fixed-income markets. Changes in market interest rates or economic conditions may affect the value and/or liquidity of such investments. Interest rate risk is the risk that prices of bonds and other fixed-income securities will decrease as interest rates rise and increase as interest rates fall. The Funds may be subject to a greater risk of rising interest rates due to the current period of historically low interest rates. The Federal Reserve has recently begun to raise the federal funds rate as part of its efforts to address inflation. There is a risk that interest rates will continue to rise, which will likely drive down the prices of bonds and other fixed-income securities, and could negatively impact the Funds’ performance.
Significant Shareholder Redemption Risk: Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund’s NAV, increase the fund’s brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.
LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates ceased to be published or no longer are representative of the underlying market they seek to measure after December 31, 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.
| 124 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (continued)
| 9. |
CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.
Transactions in capital shares were as follows:
| Year Ended 10/31/22 |
Year Ended 10/31/21 |
|||||||||||||||
|
iShares ETF
|
Shares
|
Amount
|
Shares
|
Amount
|
||||||||||||
|
iBonds Dec 2022 Term Muni Bond |
||||||||||||||||
|
Shares sold |
3,450,000 | $ | 89,386,269 | 1,300,000 | $ | 34,238,031 | ||||||||||
|
Shares redeemed |
(2,150,000 | ) | (55,729,553 | ) | (300,000 | ) | (7,876,650 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 1,300,000 | $ | 33,656,716 | 1,000,000 | $ | 26,361,381 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2023 Term Muni Bond |
||||||||||||||||
|
Shares sold |
6,800,000 | $ | 172,974,951 | 2,400,000 | $ | 62,734,199 | ||||||||||
|
Shares redeemed |
(350,000 | ) | (8,866,142 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 6,450,000 | $ | 164,108,809 | 2,400,000 | $ | 62,734,199 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2024 Term Muni Bond |
||||||||||||||||
|
Shares sold |
10,850,000 | $ | 280,775,548 | 2,400,000 | $ | 64,837,544 | ||||||||||
|
Shares redeemed |
(50,000 | ) | (1,326,095 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 10,800,000 | $ | 279,449,453 | 2,400,000 | $ | 64,837,544 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2025 Term Muni Bond |
||||||||||||||||
|
Shares sold |
5,600,000 | $ | 149,014,398 | 2,350,000 | $ | 65,849,082 | ||||||||||
|
Shares redeemed |
(100,000 | ) | (2,640,315 | ) | (50,000 | ) | (1,407,346 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 5,500,000 | $ | 146,374,083 | 2,300,000 | $ | 64,441,736 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2026 Term Muni Bond |
||||||||||||||||
|
Shares sold |
4,000,000 | $ | 102,749,159 | 2,250,000 | $ | 60,707,292 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2027 Term Muni Bond |
||||||||||||||||
|
Shares sold |
4,800,000 | $ | 121,047,488 | 900,000 | $ | 24,465,240 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
iBonds Dec 2028 Term Muni Bond |
||||||||||||||||
|
Shares sold |
1,550,000 | $ | 38,871,360 | 750,000 | $ | 20,585,468 | ||||||||||
|
Shares redeemed |
(150,000 | ) | (3,750,860 | ) | — | — | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 1,400,000 | $ | 35,120,500 | 750,000 | $ | 20,585,468 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the Trust’s administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.
From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.
| 10. |
SUBSEQUENT EVENTS |
Management’s evaluation of the impact of all subsequent events on the Funds’ financial statements was completed through the date the financial statements were available to be issued and the following items were noted:
Planned Fund Liquidation: In accordance with its prospectus and its investment objective, the iShares iBonds Dec 2022 Term Muni Bond ETF ceased trading after the close of business on December 1, 2022, when all of the bonds included in the Fund’s underlying index matured. Proceeds of the liquidation were sent to shareholders on December 7, 2022.
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
125 |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of iShares Trust and Shareholders of each of the seven funds listed in the table below
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of each of the funds listed in the table below (seven of the funds constituting iShares Trust, hereafter collectively referred to as the “Funds”) as of October 31, 2022, the related statements of operations for the year ended October 31, 2022, the statements of changes in net assets for each of the two years in the period ended October 31, 2022, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2022, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2022 and each of the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
|
iShares iBonds Dec 2022 Term Muni Bond ETF iShares iBonds Dec 2023 Term Muni Bond ETF iShares iBonds Dec 2024 Term Muni Bond ETF iShares iBonds Dec 2025 Term Muni Bond ETF iShares iBonds Dec 2026 Term Muni Bond ETF iShares iBonds Dec 2027 Term Muni Bond ETF iShares iBonds Dec 2028 Term Muni Bond ETF
|
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2022 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
December 22, 2022
We have served as the auditor of one or more BlackRock investment companies since 2000.
| 126 |
2 0 2 2 I S H A R E S A N N U A L R E P O R T T O S H A R E H O L D E R S |
Important Tax Information (unaudited)
The law varies in each state as to whether and what percent of ordinary income dividends attributable to federal obligations is exempt from state income tax. Shareholders are advised to check with their tax advisers to determine if any portion of the dividends received is exempt from state income tax.
The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest income eligible to be treated as a Section 163(j) interest dividend for the fiscal year ended October 31, 2022:
|
iShares ETF
|
Interest Dividends
|
|||
|
iBonds Dec 2022 Term Muni Bond |
$ | 172 | ||
|
iBonds Dec 2024 Term Muni Bond |
289 | |||
|
iBonds Dec 2028 Term Muni Bond |
4 | |||
The Funds hereby designate the following amounts, or maximum amounts allowable by law, as interest-related dividends eligible for exemption from U.S. withholding tax for nonresident aliens and foreign corporations for the fiscal year ended October 31, 2022:
|
iShares ETF
|
Interest-Related
|
|||
|
iBonds Dec 2022 Term Muni Bond |
$ | 172 | ||
|
iBonds Dec 2024 Term Muni Bond |
289 | |||
|
iBonds Dec 2028 Term Muni Bond |
4 | |||
|
I M P O R T A N T T A X I N F O R M A T I O N |
127 |
Board Review and Approval of Investment Advisory Contract
iShares iBonds Dec 2022 Term Muni Bond ETF, iShares iBonds Dec 2023 Term Muni Bond ETF, , iShares iBonds Dec 2024 Term Muni Bond ETF, iShares iBonds Dec 2025 Term Muni Bond ETF, iShares iBonds Dec 2026 Term Muni Bond ETFiShares, iShares iBonds Dec 2027 Term Muni Bond ETF, iShares iBonds Dec 2028 Term Muni Bond ETF (each the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
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Board Review and Approval of Investment Advisory Contract (continued)
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged
BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates do not manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
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B O A R D R E V I E W A N D A P P R O V A L O F I N V E S T M E N T A D V I S O R Y C O N T R A C T |
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Supplemental Information (unaudited)
Section 19(a) Notices
The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.
October 31, 2022
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||||||||||||||||||||||||||||||||
| Total Cumulative Distributions for the Fiscal Year |
% Breakdown of the Total Cumulative Distributions for the Fiscal Year |
|||||||||||||||||||||||||||||||
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iShares ETF
|
Net
|
Net Realized
|
Return of
|
Total Per
|
Net
|
Net Realized
|
Return of
|
Total Per Share
|
||||||||||||||||||||||||
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iBonds Dec 2022 Term Muni Bond |
$ | 0.303198 | $ | — | $ | — | $ | 0.303198 | 100 | % | — | % | — | % | 100% | |||||||||||||||||
|
iBonds Dec 2023 Term Muni Bond(a) |
0.281568 | — | 0.000570 | 0.282138 | 100 | — | 0 | (b) | 100 | |||||||||||||||||||||||
|
iBonds Dec 2024 Term Muni Bond |
0.251050 | — | — | 0.251050 | 100 | — | — | 100 | ||||||||||||||||||||||||
|
iBonds Dec 2025 Term Muni Bond |
0.216904 | — | — | 0.216904 | 100 | — | — | 100 | ||||||||||||||||||||||||
|
iBonds Dec 2026 Term Muni Bond |
0.191077 | — | — | 0.191077 | 100 | — | — | 100 | ||||||||||||||||||||||||
|
iBonds Dec 2027 Term Muni Bond(a) |
0.263448 | — | 0.001029 | 0.264477 | 100 | — | 0 | (b) | 100 | |||||||||||||||||||||||
|
iBonds Dec 2028 Term Muni Bond(a) |
0.289128 | — | 0.001448 | 0.290576 | 100 | — | 0 | (b) | 100 | |||||||||||||||||||||||
| (a) |
The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
| (b) |
Rounds to less than 1%. |
Premium/Discount Information
Information on the Fund’s net asset value, market price, premiums and discounts, and bid-ask spreads can be found at iShares.com.
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Trustee and Officer Information (unaudited)
The Board of Trustees has responsibility for the overall management and operations of the Funds, including general supervision of the duties performed by BFA and other service providers. Each Trustee serves until he or she resigns, is removed, dies, retires or becomes incapacitated. Each officer shall hold office until his or her successor is elected and qualifies or until his or her death, resignation or removal. Trustees who are not “interested persons” (as defined in the 1940 Act) of the Trust are referred to as independent trustees (“Independent Trustees”).
The registered investment companies advised by BFA or its affiliates (the “BlackRock-advised Funds”) are organized into one complex of open-end equity, multi-asset, index and money market funds and ETFs (the “BlackRock Multi-Asset Complex”), one complex of closed-end funds and open-end non-index fixed-income funds (including ETFs) (the “BlackRock Fixed-Income Complex”) and one complex of ETFs (“Exchange-Traded Fund Complex”) (each, a “BlackRock Fund Complex”). Each Fundis included in the Exchange-Traded Fund Complex. Each Trustee also serves as a Director of iShares, Inc. and a Trustee of iShares U.S. ETF Trust and, as a result, oversees all of the funds within the Exchange-Traded Fund Complex, which consists of 379 funds as of October 31, 2022. With the exception of Robert S. Kapito, Salim Ramji and Charles Park, the address of each Trustee and officer is c/o BlackRock, Inc., 400 Howard Street, San Francisco, CA 94105. The address of Mr. Kapito, Mr. Ramji and Mr. Park is c/o BlackRock, Inc., Park Avenue Plaza, 55 East 52nd Street, New York, NY 10055. The Board has designated John E. Kerrigan as its Independent Board Chair. Additional information about the Funds’ Trustees and officers may be found in the Funds’ combined Statement of Additional Information, which is available without charge, upon request, by calling toll-free 1-800-iShares (1-800-474-2737).
|
Interested Trustees
| ||||||
| Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
|
Robert S. Kapito(a) (65) |
Trustee (since 2009). |
President, BlackRock, Inc. (since 2006); Vice Chairman of BlackRock, Inc. and Head of BlackRock’s Portfolio Management Group (since its formation in 1998) and BlackRock, Inc.’s predecessor entities (since 1988); Trustee, University of Pennsylvania (since 2009); President of Board of Directors, Hope & Heroes Children’s Cancer Fund (since 2002). | Director of BlackRock, Inc. (since 2006); Director of iShares, Inc. (since 2009); Trustee of iShares U.S. ETF Trust (since 2011). | |||
|
Salim Ramji(b) (52) |
Trustee (since 2019). |
Senior Managing Director, BlackRock, Inc. (since 2014); Global Head of BlackRock’s ETF and Index Investments Business (since 2019); Head of BlackRock’s U.S. Wealth Advisory Business (2015-2019); Global Head of Corporate Strategy, BlackRock, Inc. (2014-2015); Senior Partner, McKinsey & Company (2010-2014). | Director of iShares, Inc. (since 2019); Trustee of iShares U.S. ETF Trust (since 2019). | |||
| (a) |
Robert S. Kapito is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
| (b) |
Salim Ramji is deemed to be an “interested person” (as defined in the 1940 Act) of the Trust due to his affiliations with BlackRock, Inc. and its affiliates. |
|
Independent Trustees
| ||||||
| Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
| John E. Kerrigan (67) | Trustee (since 2005); Independent Board Chair (since 2022). |
Chief Investment Officer, Santa Clara University (since 2002). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Independent Board Chair of iShares, Inc. and iShares U.S. ETF Trust (since 2022). | |||
|
Jane D. Carlin (66) |
Trustee (since 2015); Risk Committee Chair (since 2016). |
Consultant (since 2012); Member of the Audit Committee (2012-2018), Chair of the Nominating and Governance Committee (2017-2018) and Director of PHH Corporation (mortgage solutions) (2012-2018); Managing Director and Global Head of Financial Holding Company Governance & Assurance and the Global Head of Operational Risk Management of Morgan Stanley (2006-2012). | Director of iShares, Inc. (since 2015); Trustee of iShares U.S. ETF Trust (since 2015); Member of the Audit Committee (since 2016), Chair of the Audit Committee (since 2020) and Director of The Hanover Insurance Group, Inc. (since 2016). | |||
|
Richard L. Fagnani (67) |
Trustee (since 2017); Audit Committee Chair (since 2019). |
Partner, KPMG LLP (2002-2016). |
Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
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T R U S T E E A N D O F F I C E R I N F O R M A T I O N |
131 |
Trustee and Officer Information (unaudited) (continued)
|
Independent Trustees (continued)
| ||||||
| Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years |
Other Directorships Held by Trustee | |||
|
Cecilia H. Herbert (73) |
Trustee (since 2005); Nominating and Governance and Equity Plus Committee Chairs (since 2022). |
Chair of the Finance Committee (since 2019) and Trustee and Member of the Finance, Audit and Quality Committees of Stanford Health Care (since 2016); Trustee of WNET, New York’s public media company (since 2011) and Member of the Audit Committee (since 2018) and Investment Committee (since 2011); Chair (1994-2005) and Member (since 1992) of the Investment Committee, Archdiocese of San Francisco; Trustee of Forward Funds (14 portfolios) (2009-2018); Trustee of Salient MF Trust (4 portfolios) (2015-2018); Director (1998-2013) and President (2007-2011) of the Board of Directors, Catholic Charities CYO; Trustee (2002-2011) and Chair of the Finance and Investment Committee (2006-2010) of the Thacher School; Director of the Senior Center of Jackson Hole (since 2020). | Director of iShares, Inc. (since 2005); Trustee of iShares U.S. ETF Trust (since 2011); Trustee of Thrivent Church Loan and Income Fund (since 2019). | |||
|
Drew E. Lawton (63) |
Trustee (since 2017); 15(c) Committee Chair (since 2017). |
Senior Managing Director of New York Life Insurance Company (2010-2015). | Director of iShares, Inc. (since 2017); Trustee of iShares U.S. ETF Trust (since 2017). | |||
|
John E. Martinez (61) |
Trustee (since 2003); Securities Lending Committee Chair (since 2019). |
Director of Real Estate Equity Exchange, Inc. (since 2005); Director of Cloudera Foundation (2017-2020); and Director of Reading Partners (2012-2016). | Director of iShares, Inc. (since 2003); Trustee of iShares U.S. ETF Trust (since 2011). | |||
|
Madhav V. Rajan (58) |
Trustee (since 2011); Fixed-Income Plus Committee Chair (since 2019). |
Dean, and George Pratt Shultz Professor of Accounting, University of Chicago Booth School of Business (since 2017); Advisory Board Member (since 2016) and Director (since 2020) of C.M. Capital Corporation; Chair of the Board for the Center for Research in Security Prices, LLC (since 2020); Robert K. Jaedicke Professor of Accounting, Stanford University Graduate School of Business (2001-2017); Professor of Law (by courtesy), Stanford Law School (2005-2017); Senior Associate Dean for Academic Affairs and Head of MBA Program, Stanford University Graduate School of Business (2010-2016). | Director of iShares, Inc. (since 2011); Trustee of iShares U.S. ETF Trust (since 2011). | |||
|
Officers
| ||||
| Name (Age) | Position(s) |
Principal Occupation(s) During Past 5 Years | ||
|
Armando Senra (51) |
President (since 2019). |
Managing Director, BlackRock, Inc. (since 2007); Head of U.S., Canada and Latam iShares, BlackRock, Inc. (since 2019); Head of Latin America Region, BlackRock, Inc. (2006-2019); Managing Director, Bank of America Merrill Lynch (1994-2006). | ||
|
Trent Walker (48) |
Treasurer and
Chief Financial Officer (since 2020). |
Managing Director, BlackRock, Inc. (since September 2019); Chief Financial Officer of iShares Delaware Trust Sponsor LLC, BlackRock Funds, BlackRock Funds II, BlackRock Funds IV, BlackRock Funds V and BlackRock Funds VI (since 2021); Executive Vice President of PIMCO (2016-2019); Senior Vice President of PIMCO (2008-2015); Treasurer (2013-2019) and Assistant Treasurer (2007-2017) of PIMCO Funds, PIMCO Variable Insurance Trust, PIMCO ETF Trust, PIMCO Equity Series, PIMCO Equity Series VIT, PIMCO Managed Accounts Trust, 2 PIMCO-sponsored interval funds and 21 PIMCO-sponsored closed-end funds. | ||
|
Charles Park (55) |
Chief Compliance
Officer (since 2006). |
Chief Compliance Officer of BlackRock Advisors, LLC and the BlackRock-advised Funds in the BlackRock Multi-Asset Complex and the BlackRock Fixed-Income Complex (since 2014); Chief Compliance Officer of BFA (since 2006). | ||
|
Marisa Rolland (42) |
Secretary (since 2022). |
Director, BlackRock, Inc. (since 2018); Vice President, BlackRock, Inc. (2010-2017). | ||
|
Rachel Aguirre (40) |
Executive Vice
President (since 2022). |
Managing Director, BlackRock, Inc. (since 2018); Director, BlackRock, Inc. (2009-2018); Head of U.S. iShares Product (since 2022); Head of EII U.S. Product Engineering (since 2021); Co-Head of EII’s Americas Portfolio Engineering (2020-2021); Head of Developed Markets Portfolio Engineering (2016-2019). | ||
|
Jennifer Hsui (46) |
Executive Vice
President (since 2022). |
Managing Director, BlackRock, Inc. (since 2009); Co-Head of Index Equity (since 2022). | ||
|
James Mauro (52) |
Executive Vice
President (since 2022). |
Managing Director, BlackRock, Inc. (since 2010); Head of Fixed Income Index Investments in the Americas and Head of San Francisco Core Portfolio Management (since 2020). | ||
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Trustee and Officer Information (unaudited) (continued)
Effective March 18, 2022, Rachel Aguirre, Jennifer Hsui, and James Mauro have replaced Scott Radell, Alan Mason, and Marybeth Leithead as Executive Vice Presidents.
Effective June 15, 2022, Marisa Rolland replaced Deepa Damre Smith as Secretary.
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T R U S T E E A N D O F F I C E R I N F O R M A T I O N |
133 |
Electronic Delivery
Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.
To enroll in electronic delivery:
| • |
Go to icsdelivery.com. |
| • |
If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor. |
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.
Availability of Proxy Voting Policies and Proxy Voting Records
A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.
A description of the Trust’s policies and procedures with respect to the disclosure of the Fund’s portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at iShares.com.
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Glossary of Terms Used in this Report
| Portfolio Abbreviation | ||
| AGC | Assured Guaranty Corp. | |
| AGM | Assured Guaranty Municipal Corp. | |
| AMBAC | Ambac Assurance Corp. | |
| BAM | Build America Mutual Assurance Co. | |
| COP | Certificates of Participation | |
| ETM | Escrowed to Maturity | |
| GO | General Obligation | |
| GOL | General Obligation Limited | |
| GTD | Guaranteed | |
| HERBIP | Higher Education Revenue Bond Intercept Program | |
| MO | Moral Obligation | |
| NPFGC | National Public Finance Guarantee Corp. | |
| PR | Prerefunded | |
| PSF | Permanent School Fund | |
| Q-SBLF | Qualified School Bond Loan Fund | |
| RB | Revenue Bond | |
| SAP | Subject to Appropriations | |
| SAW | State Aid Withholding | |
| SCH BD GTY | School Board Guaranty | |
| SCH BD RES FD | School Board Resolution Fund | |
| SCSDE | South Carolina State Department of Education | |
| ST | Special Tax | |
| TA | Tax Allocation | |
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G L O S S A R Y O F T E R M S U S E D I N T H I S R E P O R T |
135 |
Want to know more?
iShares.com | 1-800-474-2737
This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.
Investing involves risk, including possible loss of principal.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by S&P Dow Jones Indices LLC, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.
©2022 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-AR-1015-1022
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