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AUGUST 31, 2022 |
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2022 Semi-Annual Report (Unaudited)
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iShares Trust
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iShares iBoxx $ High Yield Corporate Bond ETF | HYG | NYSE Arca |
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iShares iBoxx $ Investment Grade Corporate Bond ETF | LQD | NYSE Arca |
Dear Shareholder,
The 12-month reporting period as of August 31, 2022 saw the emergence of significant challenges that disrupted the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022, ending the run of robust growth that followed the reopening of global economies and the development of COVID-19 vaccines. 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 and economically sensitive small-capitalization stocks. While both large- and small-capitalization U.S. stocks fell, declines for small-capitalization U.S. stocks were steeper. Both emerging market stocks and international equities from developed markets fell significantly, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose notably during the reporting period 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 is growing faster than expected, raised interest rates four times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and began to reduce 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 horrific war in Ukraine has significantly clouded the outlook for the global economy, leading to major volatility in energy and metals markets. Sanctions on Russia, Europe’s top energy supplier, and general wartime disruption have magnified supply problems for key commodities. We believe elevated energy prices will continue to exacerbate inflationary pressure while also constraining economic growth. Combating inflation without stifling a recovery, while buffering against ongoing supply and price shocks, will be an especially challenging environment for setting effective monetary policy. Despite the likelihood of more rate increases on the horizon, we believe the Fed will ultimately err on the side of protecting employment, even at the expense of higher inflation. In the meantime, however, we are likely to see a period of slowing growth paired with relatively high inflation.
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. Furthermore, the energy shock 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. We take the opposite view on credit, where higher spreads provide near-term opportunities, while the likelihood of higher inflation leads us to take an underweight stance on credit in the long term. We believe that investment-grade corporates, U.K. gilts, 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, extend their scope across a broad array of asset classes, 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 August 31, 2022 | ||||||||||
6-Month | 12-Month | |||||||||
U.S.
large cap equities |
(8.84 | )% | (11.23 | )% | ||||||
U.S.
small cap equities |
(9.31 | ) | (17.88 | ) | ||||||
International equities (MSCI Europe, Australasia, Far East Index) |
(13.97 | ) | (19.80 | ) | ||||||
Emerging
market equities |
(13.30 | ) | (21.80 | ) | ||||||
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) |
0.36 | 0.39 | ||||||||
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) |
(9.71 | ) | (13.27 | ) | ||||||
U.S.
investment grade bonds |
(7.76 | ) | (11.52 | ) | ||||||
Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) |
(5.72 | ) | (8.63 | ) | ||||||
U.S.
high yield bonds |
(7.78 | ) | (10.61 | ) | ||||||
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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Semi-Annual Report: |
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Financial Statements |
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Fund Summary as of August 31, 2022 | iShares® iBoxx $ High Yield Corporate Bond ETF |
Investment Objective
The iShares iBoxx $ High Yield Corporate Bond ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield corporate bonds, as represented by the Markit iBoxx® USD Liquid High Yield Index (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 | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
(8.20 | )% | (11.13 | )% | 1.62 | % | 3.29 | % | (11.13 | )% | 8.35 | % | 38.18 | % | ||||||||||||||||||
Fund Market |
(8.77 | ) | (11.61 | ) | 1.42 | 3.16 | (11.61 | ) | 7.29 | 36.50 | ||||||||||||||||||||||
Index |
(7.86 | ) | (10.62 | ) | 2.06 | 3.74 | (10.62 | ) | 10.75 | 44.38 |
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 | |||||||||||||||||||||||||||||||
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Beginning Account Value (03/01/22) |
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Ending Account Value (08/31/22) |
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Expenses Paid During the Period |
(a) |
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Beginning Account Value (03/01/22) |
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Ending Account Value (08/31/22) |
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Expenses Paid During the Period |
(a) |
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Annualized Expense Ratio |
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$ 1,000.00 | $ 918.00 | $ 2.37 | $ 1,000.00 | $ 1,022.70 | $ 2.50 | 0.49 | % |
(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. |
Portfolio Information
CREDIT QUALITY ALLOCATION |
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Moody’s Credit Rating* |
Percent of Total Investments(a) |
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Baa |
2.8% | |||
Ba |
45.3 | |||
B |
40.2 | |||
Caa |
10.5 | |||
Ca |
0.2 | |||
B1 |
0.1 | |||
Ba1 |
0.1 | |||
Ba2 |
0.2 | |||
Not Rated |
0.6 | |||
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MATURITY ALLOCATION |
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Maturity |
Percent of Total Investments(a) |
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1-5 Years |
40.6% | |||
5-10 Years |
57.0 | |||
10-15 Years |
1.0 | |||
More than 20 Years |
1.4 | |||
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* |
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. |
4 |
2 0 2 2 I S H A R E S S E M I - 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 August 31, 2022 | iShares® iBoxx $ Investment Grade Corporate Bond ETF |
Investment Objective
The iShares iBoxx $ Investment Grade Corporate Bond ETF(the “Fund”) seeks to track the investment results of an index composed of U.S. dollar-denominated, investment-grade corporate bonds, as represented by the Markit iBoxx® USD Liquid Investment Grade Index (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 | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
(10.81 | )% | (16.96 | )% | 0.93 | % | 2.35 | % | (16.96 | )% | 4.75 | % | 26.12 | % | ||||||||||||||||||
Fund Market |
(11.22 | ) | (17.18 | ) | 0.84 | 2.24 | (17.18 | ) | 4.29 | 24.79 | ||||||||||||||||||||||
Index |
(10.73 | ) | (16.91 | ) | 1.03 | 2.51 | (16.91 | ) | 5.28 | 28.07 |
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
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Actual | Hypothetical 5% Return | ||||||||||||||||||||||||||||||||
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Beginning Account Value (03/01/22) |
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Ending Account Value (08/31/22) |
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Expenses Paid During the Period |
(a) |
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Beginning Account Value (03/01/22) |
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Ending Account Value (08/31/22) |
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Expenses Paid During the Period |
(a) |
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Annualized Expense Ratio |
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$ 1,000.00 | $ 891.90 | $ 0.67 | $ 1,000.00 | $ 1,024.50 | $ 0.71 | 0.14 | % |
(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. |
Portfolio Information
CREDIT QUALITY ALLOCATION |
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Moody’s Credit Rating* |
Percent of Total Investments(a) |
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Aaa |
3.4% | |||
Aa |
4.9 | |||
A |
43.0 | |||
Baa |
46.4 | |||
Ba |
1.8 | |||
Not Rated |
0.5 | |||
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MATURITY ALLOCATION |
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Maturity | Percent
of Total Investments(a) |
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1-5 Years |
20.7% | |||
5-10 Years |
35.1 | |||
10-15 Years |
6.7 | |||
15-20 Years |
9.7 | |||
More than 20 Years |
27.8 | |||
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* |
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. |
F U N D S U M M A R Y |
5 |
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. 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.
6 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Corporate Bonds & Notes |
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Advertising — 0.9% | ||||||||
Clear Channel Outdoor Holdings Inc. |
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5.13%, 08/15/27 (Call 10/03/22)(a)(b) |
$ | 18,520 | $ | 16,644,850 | ||||
7.50%, 06/01/29 (Call 06/01/24)(a)(b) |
13,651 | 10,923,530 | ||||||
7.75%, 04/15/28 (Call 04/15/24)(a)(b) |
12,945 | 10,488,039 | ||||||
Lamar Media Corp. |
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3.63%, 01/15/31 (Call 01/15/26)(b) |
7,986 | 6,650,741 | ||||||
3.75%, 02/15/28 (Call 02/15/23)(b) |
8,183 | 7,323,785 | ||||||
4.00%, 02/15/30 (Call 02/15/25)(b) |
5,307 | 4,670,160 | ||||||
4.88%, 01/15/29 (Call 01/15/24)(b) |
5,767 | 5,363,310 | ||||||
Outfront Media Capital LLC/Outfront Media Capital Corp. |
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4.25%, 01/15/29 (Call 01/15/24)(a)(b) |
6,641 | 5,581,308 | ||||||
4.63%, 03/15/30 (Call 03/15/25)(a)(b) |
7,180 | 5,975,705 | ||||||
5.00%, 08/15/27 (Call 09/12/22)(a)(b) |
8,371 | 7,661,641 | ||||||
6.25%, 06/15/25 (Call 10/03/22)(a)(b) |
3,571 | 3,548,082 | ||||||
Stagwell Global LLC, 5.63%, 08/15/29 |
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(Call 08/15/24)(a)(b) |
14,180 | 12,008,333 | ||||||
Terrier Media Buyer Inc., 8.88%, 12/15/27 |
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(Call 12/15/22)(a)(b) |
13,007 | 11,387,629 | ||||||
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108,227,113 | ||||||||
Aerospace & Defense — 2.5% | ||||||||
Bombardier Inc. |
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6.00%, 02/15/28 (Call 02/15/24)(a) |
10,878 | 9,623,843 | ||||||
7.13%, 06/15/26 (Call 06/15/23)(a) |
16,183 | 15,420,457 | ||||||
7.50%, 12/01/24 (Call 10/03/22)(a)(b) |
7,072 | 7,025,678 | ||||||
7.50%, 03/15/25 (Call 10/03/22)(a)(b) |
15,774 | 15,429,180 | ||||||
7.88%, 04/15/27 (Call 10/03/22)(a)(b) |
25,060 | 23,944,830 | ||||||
Howmet Aerospace Inc. |
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3.00%, 01/15/29 (Call 11/15/28)(b) |
9,113 | 7,689,094 | ||||||
5.13%, 10/01/24 (Call 07/01/24)(b) |
13,282 | 13,218,246 | ||||||
6.88%, 05/01/25 (Call 04/01/25)(b) |
7,875 | 8,078,837 | ||||||
Rolls-Royce PLC |
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3.63%, 10/14/25 (Call 07/14/25)(a)(b) |
14,452 | 13,024,865 | ||||||
5.75%, 10/15/27 (Call 07/15/27)(a) |
11,938 | 10,776,433 | ||||||
Spirit AeroSystems Inc. |
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4.60%, 06/15/28 (Call 03/15/28)(b) |
8,655 | 6,816,002 | ||||||
5.50%, 01/15/25 (Call 10/15/22)(a) |
6,461 | 6,270,804 | ||||||
7.50%, 04/15/25 (Call 10/03/22)(a) |
17,243 | 16,817,443 | ||||||
TransDigm Inc. |
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4.63%, 01/15/29 (Call 01/15/24)(b) |
15,083 | 12,754,486 | ||||||
4.88%, 05/01/29 (Call 05/01/24)(b) |
10,032 | 8,493,217 | ||||||
5.50%, 11/15/27 (Call 11/15/22)(b) |
36,325 | 32,575,170 | ||||||
6.25%, 03/15/26 (Call 10/03/22)(a) |
61,161 | 60,028,298 | ||||||
6.38%, 06/15/26 (Call 10/03/22)(b) |
12,359 | 11,875,785 | ||||||
7.50%, 03/15/27 (Call 10/03/22)(b) |
6,060 | 5,905,955 | ||||||
8.00%, 12/15/25 (Call 10/03/22)(a) |
13,350 | 13,619,948 | ||||||
TransDigm UK Holdings PLC, 6.88%, 05/15/26 |
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(Call 10/03/22) |
6,039 | 5,820,955 | ||||||
Triumph Group Inc. |
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6.25%, 09/15/24 (Call 10/03/22)(a) |
7,409 | 6,803,314 | ||||||
7.75%, 08/15/25 (Call 10/03/22)(b) |
6,257 | 5,248,059 | ||||||
8.88%, 06/01/24 (Call 02/01/23)(a)(b) |
5,363 | 5,403,477 | ||||||
|
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322,664,376 | ||||||||
Agriculture — 0.3% | ||||||||
Darling Ingredients Inc. |
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5.25%, 04/15/27 (Call 09/12/22)(a) |
6,742 | 6,615,655 | ||||||
6.00%, 06/15/30 (Call 06/15/25)(a)(b) |
11,806 | 11,820,876 |
Security |
Par (000) |
Value | ||||||
Agriculture (continued) | ||||||||
Vector Group Ltd. |
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5.75%, 02/01/29 (Call 02/01/24)(a)(b) |
$ | 10,724 | $ | 9,218,484 | ||||
10.50%, 11/01/26 (Call 10/03/22)(a) |
8,787 | 8,385,873 | ||||||
|
|
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36,040,888 | ||||||||
Airlines — 1.9% | ||||||||
Air Canada, 3.88%, 08/15/26 (Call 02/15/26)(a)(b) |
16,754 | 14,899,332 | ||||||
American
Airlines Group Inc., |
5,663 | 4,772,153 | ||||||
American Airlines Inc., 11.75%, 07/15/25(a)(b) |
33,586 | 36,774,571 | ||||||
American Airlines Inc./AAdvantage Loyalty IP Ltd. |
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5.50%, 04/20/26(a)(b) |
48,539 | 46,206,895 | ||||||
5.75%, 04/20/29(a) |
41,314 | 37,334,039 | ||||||
Delta Air Lines Inc. |
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2.90%, 10/28/24 (Call 09/28/24)(b) |
10,303 | 9,645,862 | ||||||
3.75%, 10/28/29 (Call 07/28/29)(b) |
8,660 | 7,079,550 | ||||||
4.38%, 04/19/28 (Call 01/19/28)(b) |
7,448 | 6,552,564 | ||||||
7.38%, 01/15/26 (Call 12/15/25)(b) |
11,109 | 11,331,180 | ||||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/26 (Call 01/20/24)(a)(b) |
15,851 | 14,475,292 | ||||||
United Airlines Inc. |
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4.38%, 04/15/26 (Call 10/15/25)(a)(b) |
26,501 | 24,139,761 | ||||||
4.63%, 04/15/29 (Call 10/15/28)(a) |
26,811 | 23,526,653 | ||||||
|
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236,737,852 | ||||||||
Apparel — 0.2% | ||||||||
Hanesbrands Inc. |
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4.63%, 05/15/24 (Call 02/15/24)(a)(b) |
8,736 | 8,420,368 | ||||||
4.88%, 05/15/26 (Call 02/15/26)(a)(b) |
11,767 | 10,829,759 | ||||||
|
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19,250,127 | ||||||||
Auto Manufacturers — 3.5% | ||||||||
Allison Transmission Inc. |
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3.75%, 01/30/31 (Call 01/30/26)(a)(b) |
11,968 | 9,669,546 | ||||||
4.75%, 10/01/27 (Call 10/01/22)(a)(b) |
6,393 | 5,945,490 | ||||||
5.88%, 06/01/29 (Call 06/01/24)(a)(b) |
7,418 | 6,986,022 | ||||||
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 |
||||||||
(Call 11/01/24)(a) |
17,092 | 17,134,730 | ||||||
Ford Motor Co. |
||||||||
3.25%, 02/12/32 (Call 11/12/31) |
30,849 | 24,119,908 | ||||||
4.35%, 12/08/26 (Call 09/08/26)(b) |
20,315 | 19,578,581 | ||||||
6.10%, 08/19/32 |
20,495 | 19,945,324 | ||||||
9.00%, 04/22/25 (Call 09/01/22)(b) |
14,328 | 15,986,556 | ||||||
9.63%, 04/22/30 (Call 01/22/30)(b) |
6,365 | 7,427,436 | ||||||
Ford Motor Credit Co. LLC |
||||||||
2.30%, 02/10/25 (Call 01/10/25)(b) |
16,601 | 15,097,225 | ||||||
2.70%, 08/10/26 (Call 07/10/26) |
16,543 | 14,359,246 | ||||||
2.90%, 02/16/28 (Call 12/16/27)(b) |
8,034 | 6,673,555 | ||||||
2.90%, 02/10/29 (Call 12/10/28)(b) |
10,412 | 8,404,462 | ||||||
3.35%, 11/01/22 |
713 | 711,324 | ||||||
3.37%, 11/17/23 |
7,941 | 7,751,031 | ||||||
3.38%, 11/13/25 (Call 10/13/25)(b) |
26,978 | 24,551,329 | ||||||
3.63%, 06/17/31 (Call 03/17/31)(b) |
13,257 | 10,734,458 | ||||||
3.66%, 09/08/24 |
10,607 | 10,166,279 | ||||||
3.81%, 01/09/24 (Call 11/09/23) |
9,790 | 9,563,012 | ||||||
3.82%, 11/02/27 (Call 08/02/27) |
10,607 | 9,336,281 | ||||||
4.00%, 11/13/30 (Call 08/13/30) |
19,577 | 16,378,706 | ||||||
4.06%, 11/01/24 (Call 10/01/24)(b) |
19,150 | 18,422,300 | ||||||
4.13%, 08/04/25 |
15,840 | 14,939,832 | ||||||
4.13%, 08/17/27 (Call 06/17/27)(b) |
15,007 | 13,543,818 | ||||||
4.27%, 01/09/27 (Call 11/09/26) |
11,791 | 10,797,608 | ||||||
4.39%, 01/08/26 |
14,974 | 14,065,063 |
S C H E D U L E O F I N V E S T M E N T S |
7 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Auto Manufacturers (continued) | ||||||||
4.54%, 08/01/26 (Call 06/01/26) |
$ | 9,546 | $ | 8,906,120 | ||||
4.69%, 06/09/25 (Call 04/09/25)(b) |
6,815 | 6,542,400 | ||||||
4.95%, 05/28/27 (Call 04/28/27)(b) |
18,164 | 17,035,400 | ||||||
5.11%, 05/03/29 (Call 02/03/29)(b) |
17,074 | 15,801,304 | ||||||
5.13%, 06/16/25 (Call 05/16/25)(b) |
20,110 | 19,598,201 | ||||||
5.58%, 03/18/24 (Call 02/18/24) |
19,878 | 19,781,592 | ||||||
Jaguar Land Rover Automotive PLC |
||||||||
4.50%, 10/01/27 (Call 07/01/27)(a)(b) |
7,422 | 5,470,608 | ||||||
5.50%, 07/15/29 (Call 07/15/24)(a)(b) |
6,349 | 4,502,847 | ||||||
5.88%, 01/15/28 (Call 01/15/24)(a) |
8,931 | 6,789,235 | ||||||
7.75%, 10/15/25 (Call 10/15/22)(a) |
9,306 | 8,597,783 | ||||||
|
|
|||||||
445,314,612 | ||||||||
Auto Parts & Equipment — 1.4% | ||||||||
Adient Global Holdings Ltd., 4.88%, 08/15/26 |
||||||||
(Call 10/03/22)(a)(b) |
633 | 580,011 | ||||||
American Axle & Manufacturing Inc. |
||||||||
5.00%, 10/01/29 (Call 10/01/24)(b) |
7,538 | 6,296,868 | ||||||
6.25%, 03/15/26 (Call 09/12/22)(b) |
600 | 579,684 | ||||||
6.50%, 04/01/27 (Call 10/03/22)(b) |
5,889 | 5,503,271 | ||||||
6.88%, 07/01/28 (Call 07/01/23)(b) |
6,268 | 5,937,676 | ||||||
Clarios Global LP, 6.75%, 05/15/25 (Call 10/03/22)(a)(b) |
4,688 | 4,689,467 | ||||||
Clarios Global LP/Clarios US Finance Co. |
||||||||
6.25%, 05/15/26 (Call 10/03/22)(a)(b) |
10,664 | 10,503,441 | ||||||
8.50%, 05/15/27 (Call 10/03/22)(a)(b) |
27,470 | 26,817,588 | ||||||
Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 |
||||||||
(Call 10/03/22)(a)(b) |
5,281 | 5,192,933 | ||||||
Dana Inc. |
||||||||
4.25%, 09/01/30 (Call 05/01/26)(b) |
4,975 | 4,015,372 | ||||||
5.38%, 11/15/27 (Call 11/15/22)(b) |
5,527 | 4,936,716 | ||||||
5.63%, 06/15/28 (Call 06/15/23)(b) |
4,916 | 4,412,251 | ||||||
Goodyear Tire & Rubber Co. (The) |
||||||||
4.88%, 03/15/27 (Call 12/15/26)(b) |
7,934 | 7,448,043 | ||||||
5.00%, 05/31/26 (Call 10/03/22)(b) |
11,598 | 11,192,070 | ||||||
5.00%, 07/15/29 (Call 04/15/29)(b) |
11,194 | 9,999,880 | ||||||
5.25%, 04/30/31 (Call 01/30/31)(b) |
8,042 | 7,028,789 | ||||||
5.25%, 07/15/31 (Call 04/15/31)(b) |
8,087 | 6,954,820 | ||||||
5.63%, 04/30/33 (Call 01/30/33)(b) |
6,050 | 5,223,580 | ||||||
9.50%, 05/31/25 (Call 09/16/22) |
9,485 | 9,899,715 | ||||||
Tenneco Inc. |
||||||||
5.00%, 07/15/26 (Call 10/03/22)(b) |
6,933 | 6,620,437 | ||||||
5.13%, 04/15/29 (Call 04/15/24)(a)(b) |
10,777 | 10,536,988 | ||||||
7.88%, 01/15/29 (Call 01/15/24)(a)(b) |
6,227 | 6,294,459 | ||||||
ZF North America Capital Inc., 4.75%, 04/29/25(a) |
15,096 | 13,941,156 | ||||||
|
|
|||||||
174,605,215 | ||||||||
Banks — 1.4% | ||||||||
Commerzbank AG, 8.13%, 09/19/23(a)(b) |
2,576 | 2,624,765 | ||||||
Deutsche Bank AG |
||||||||
4.30%, 05/24/28 (Call 05/24/23), |
||||||||
(5 year USD Swap + 2.248%)(b)(c) |
317 | 292,829 | ||||||
4.50%, 04/01/25(b) |
18,056 | 17,393,164 | ||||||
Deutsche Bank AG/New York NY |
||||||||
3.73%, 01/14/32 (Call 10/14/30), |
||||||||
(SOFR + 2.757%)(c) |
16,417 | 12,115,884 | ||||||
3.74%, 01/07/33 (Call 10/07/31), |
||||||||
(SOFR + 2.257%)(c) |
17,491 | 12,435,066 | ||||||
4.88%, 12/01/32 (Call 12/01/27)(b)(c) |
13,767 | 11,679,967 | ||||||
5.88%, 07/08/31 (Call 04/08/30), |
||||||||
(SOFR + 5.438%)(b)(c) |
6,960 | 6,068,204 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Fifth Third Bancorp., Series H, 5.10%, |
||||||||
(Call 06/30/23)(b)(c)(d) |
$ | 282 | $ | 258,242 | ||||
Freedom Mortgage Corp. |
||||||||
6.63%, 01/15/27 (Call 01/15/24)(a)(b) |
8,135 | 6,125,655 | ||||||
7.63%, 05/01/26 (Call 05/01/23)(a)(b) |
7,411 | 6,087,486 | ||||||
8.13%, 11/15/24 (Call 10/03/22)(a)(b) |
5,711 | 5,125,622 | ||||||
8.25%, 04/15/25 (Call 10/03/22)(a)(b) |
8,320 | 7,220,221 | ||||||
Intesa Sanpaolo SpA |
||||||||
4.20%, 06/01/32 (Call 06/01/31)(a)(c) |
10,691 | 7,754,808 | ||||||
5.02%, 06/26/24(a)(b) |
25,692 | 24,851,412 | ||||||
5.71%, 01/15/26(a)(b) |
20,552 | 19,273,624 | ||||||
UniCredit SpA |
||||||||
5.46%, 06/30/35 (Call 06/30/30)(a)(b)(c) |
20,352 | 16,060,007 | ||||||
5.86%, 06/19/32 (Call 06/19/27)(a)(b)(c) |
14,005 | 12,012,951 | ||||||
7.30%, 04/02/34 (Call 04/02/29)(a)(c) |
16,546 | 14,812,462 | ||||||
|
|
|||||||
182,192,369 | ||||||||
Building Materials — 1.1% | ||||||||
Builders FirstSource Inc. |
||||||||
4.25%, 02/01/32 (Call 08/01/26)(a)(b) |
17,148 | 13,634,461 | ||||||
5.00%, 03/01/30 (Call 03/01/25)(a)(b) |
7,428 | 6,517,946 | ||||||
6.38%, 06/15/32 (Call 06/15/27)(a)(b) |
9,550 | 8,857,625 | ||||||
Camelot Return Merger Sub Inc., 8.75%, 08/01/28 |
||||||||
(Call 08/01/24)(a)(b) |
9,665 | 8,740,446 | ||||||
Cornerstone Building Brands Inc., 6.13%, 01/15/29 |
||||||||
(Call 09/15/23)(a) |
6,230 | 4,209,922 | ||||||
Griffon Corp., 5.75%, 03/01/28 (Call 03/01/23) |
13,000 | 12,025,000 | ||||||
Jeld-Wen Inc. |
||||||||
4.63%, 12/15/25 (Call 10/03/22)(a)(b) |
5,661 | 4,843,693 | ||||||
4.88%, 12/15/27 (Call 12/15/22)(a)(b) |
4,939 | 3,827,725 | ||||||
SRM Escrow Issuer LLC, 6.00%, 11/01/28 |
||||||||
(Call 11/01/23)(a) |
14,733 | 13,364,304 | ||||||
Standard Industries Inc./NJ |
||||||||
3.38%, 01/15/31 (Call 07/15/25)(a)(b) |
14,954 | 10,937,057 | ||||||
4.38%, 07/15/30 (Call 07/15/25)(a)(b) |
21,093 | 16,773,786 | ||||||
4.75%, 01/15/28 (Call 01/15/23)(a)(b) |
13,499 | 11,769,013 | ||||||
5.00%, 02/15/27 (Call 10/03/22)(a)(b) |
12,048 | 11,033,220 | ||||||
Summit Materials LLC/Summit Materials Finance Corp., |
||||||||
5.25%, 01/15/29 (Call 07/15/23)(a)(b) |
9,394 | 8,471,452 | ||||||
|
|
|||||||
135,005,650 | ||||||||
Chemicals — 1.7% | ||||||||
ASP Unifrax Holdings Inc |
||||||||
5.25%, 09/30/28 (Call 09/30/24)(a)(b) |
10,877 | 8,857,671 | ||||||
7.50%, 09/30/29 (Call 09/30/24)(a)(b) |
5,198 | 3,785,444 | ||||||
Avient Corp. |
||||||||
5.75%, 05/15/25 (Call 10/03/22)(a) |
1,654 | 1,633,325 | ||||||
7.13%, 08/01/30 (Call 08/01/25)(a) |
5,485 | 5,441,435 | ||||||
Axalta Coating Systems LLC, 3.38%, 02/15/29 |
||||||||
(Call 02/15/24)(a)(b) |
8,406 | 6,971,789 | ||||||
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV, 4.75%, 06/15/27 (Call 06/15/23)(a)(b) |
7,163 | 6,634,729 | ||||||
Chemours Co. (The) |
||||||||
4.63%, 11/15/29 (Call 11/15/24)(a)(b) |
8,561 | 7,105,630 | ||||||
5.38%, 05/15/27 (Call 02/15/27)(b) |
5,860 | 5,383,875 | ||||||
5.75%, 11/15/28 (Call 11/15/23)(a)(b) |
10,879 | 9,769,723 | ||||||
Methanex Corp. |
||||||||
5.13%, 10/15/27 (Call 04/15/27)(b) |
8,123 | 7,395,991 | ||||||
5.25%, 12/15/29 (Call 09/15/29) |
10,760 | 9,051,850 |
8 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Chemicals (continued) | ||||||||
NOVA Chemicals Corp. |
||||||||
4.25%, 05/15/29 (Call 05/15/24)(a)(b) |
$ | 8,715 | $ | 7,101,853 | ||||
4.88%, 06/01/24 (Call 03/03/24)(a)(b) |
13,147 | 12,566,000 | ||||||
5.00%, 05/01/25 (Call 01/31/25)(a)(b) |
5,608 | 5,203,794 | ||||||
5.25%, 06/01/27 (Call 03/03/27)(a)(b) |
14,386 | 12,731,610 | ||||||
Olin Corp. |
||||||||
5.00%, 02/01/30 (Call 02/01/24)(b) |
7,578 | 7,000,632 | ||||||
5.13%, 09/15/27 (Call 10/03/22) |
7,193 | 6,826,976 | ||||||
5.63%, 08/01/29 (Call 08/01/24)(b) |
7,141 | 6,783,950 | ||||||
Olympus Water U.S. Holding Corp. |
||||||||
4.25%, 10/01/28 (Call 10/01/24)(a)(b) |
11,721 | 9,535,620 | ||||||
6.25%, 10/01/29 (Call 10/01/24)(a)(b) |
5,612 | 4,164,198 | ||||||
SCIH Salt Holdings Inc. |
||||||||
4.88%, 05/01/28 (Call 05/01/24)(a)(b) |
15,561 | 13,387,215 | ||||||
6.63%, 05/01/29 (Call 05/01/24)(a)(b) |
8,529 | 7,004,441 | ||||||
Tronox
Inc., 4.63%, 03/15/29 |
13,801 | 11,472,081 | ||||||
Valvoline Inc. |
||||||||
3.63%, 06/15/31 (Call 06/15/26)(a)(b) |
7,827 | 6,269,427 | ||||||
4.25%, 02/15/30 (Call 02/15/25)(a)(b) |
7,170 | 6,990,750 | ||||||
WR Grace Holdings LLC |
||||||||
4.88%, 06/15/27 (Call 06/15/23)(a)(b) |
10,860 | 9,940,158 | ||||||
5.63%, 08/15/29 (Call 08/15/24)(a)(b) |
14,632 | 11,595,860 | ||||||
|
|
|||||||
210,606,027 | ||||||||
Commercial Services — 4.2% | ||||||||
ADT Security Corp. (The), 4.13%, 08/01/29 |
||||||||
(Call 08/01/28)(a)(b) |
12,330 | 10,485,802 | ||||||
Albion Financing 1 SARL/Aggreko Holdings Inc. |
||||||||
6.13%, 10/15/26 (Call 10/15/23)(a) |
7,792 | 6,842,792 | ||||||
8.75%, 04/15/27 (Call 10/15/23)(a)(b) |
5,831 | 5,282,166 | ||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp. |
||||||||
6.00%, 06/01/29 (Call 06/01/24)(a)(b) |
12,391 | 9,192,594 | ||||||
6.63%, 07/15/26 (Call 10/03/22)(a) |
28,012 | 26,261,250 | ||||||
9.75%, 07/15/27 (Call 10/03/22)(a)(b) |
13,435 | 12,088,857 | ||||||
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, 4.63%, 06/01/28 (Call 06/01/24)(a)(b) |
27,592 | 23,197,061 | ||||||
APX Group Inc. |
||||||||
5.75%, 07/15/29 (Call 07/15/24)(a)(b) |
10,645 | 8,768,819 | ||||||
6.75%, 02/15/27 (Call 02/15/23)(a)(b) |
8,914 | 8,746,863 | ||||||
Avis Budget Car Rental LLC/Avis Budget Finance Inc. |
||||||||
4.75%, 04/01/28 (Call 04/01/24)(a)(b) |
6,324 | 5,493,975 | ||||||
5.38%, 03/01/29 (Call 03/01/24)(a)(b) |
9,065 | 7,920,544 | ||||||
5.75%, 07/15/27 (Call 10/03/22)(a)(b) |
4,893 | 4,636,118 | ||||||
Block Inc. |
||||||||
2.75%, 06/01/26 (Call 05/01/26)(b) |
15,787 | 14,010,962 | ||||||
3.50%, 06/01/31 (Call 03/01/31)(b) |
12,600 | 10,366,398 | ||||||
Brink’s Co. (The) |
||||||||
4.63%, 10/15/27 (Call 10/15/22)(a)(b) |
7,000 | 6,240,033 | ||||||
5.50%, 07/15/25 (Call 10/03/22)(a)(b) |
4,997 | 4,878,321 | ||||||
Garda World Security Corp. |
||||||||
4.63%, 02/15/27 (Call 02/15/23)(a)(b) |
8,254 | 7,230,504 | ||||||
6.00%, 06/01/29 (Call 06/01/24)(a)(b) |
7,278 | 5,640,450 | ||||||
9.50%, 11/01/27 (Call 11/01/22)(a)(b) |
7,145 | 6,491,233 | ||||||
Gartner Inc. |
||||||||
3.63%, 06/15/29 (Call 06/15/24)(a)(b) |
6,386 | 5,515,882 | ||||||
3.75%, 10/01/30 (Call 10/01/25)(a) |
12,417 | 10,647,578 | ||||||
4.50%, 07/01/28 (Call 07/01/23)(a)(b) |
9,215 | 8,528,022 | ||||||
Grand Canyon University |
||||||||
4.13%, 10/01/24 |
5,594 | 5,318,551 |
Security |
Par (000) |
Value | ||||||
Commercial Services (continued) | ||||||||
5.13%, 10/01/28 (Call 08/01/28)(b) |
$ | 5,676 | $ | 5,213,974 | ||||
Herc Holdings Inc., 5.50%, 07/15/27 |
||||||||
(Call 10/03/22)(a)(b) |
15,712 | 14,826,629 | ||||||
Hertz Corp. (The) |
||||||||
4.63%, 12/01/26 (Call 12/01/23)(a) |
7,027 | 6,025,653 | ||||||
5.00%, 12/01/29 (Call 12/01/24)(a)(b) |
13,278 | 10,620,491 | ||||||
MPH Acquisition Holdings LLC |
||||||||
5.50%, 09/01/28 (Call 09/01/24)(a)(b) |
14,947 | 12,906,734 | ||||||
5.75%, 11/01/28 (Call 11/01/23)(a)(b) |
16,831 | 13,343,617 | ||||||
Nielsen Co. Luxembourg SARL (The), 5.00%, 02/01/25 |
||||||||
(Call 10/03/22)(a)(b) |
4,305 | 4,321,144 | ||||||
Nielsen Finance LLC/Nielsen Finance Co. |
||||||||
4.50%, 07/15/29 (Call 07/15/24)(a) |
8,165 | 8,171,532 | ||||||
4.75%, 07/15/31 (Call 07/15/26)(a)(b) |
8,622 | 8,578,976 | ||||||
5.63%, 10/01/28 (Call 10/01/23)(a)(b) |
15,479 | 15,532,531 | ||||||
5.88%, 10/01/30 (Call 10/01/25)(a)(b) |
11,429 | 11,424,086 | ||||||
Prime Security Services Borrower LLC/Prime Finance Inc. |
||||||||
3.38%, 08/31/27 (Call 08/31/26)(a)(b) |
13,483 | 11,549,032 | ||||||
5.25%, 04/15/24(a)(b) |
9,147 | 9,029,804 | ||||||
5.75%, 04/15/26(a)(b) |
17,154 | 16,467,840 | ||||||
6.25%, 01/15/28 (Call 01/15/23)(a)(b) |
17,777 | 15,660,204 | ||||||
Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 |
||||||||
(Call 10/03/22)(a) |
382 | 377,568 | ||||||
RR Donnelley & Sons Co., 6.13%, 11/01/26 |
||||||||
(Call 11/01/23)(a) |
716 | 669,926 | ||||||
Sabre GLBL Inc. |
||||||||
7.38%, 09/01/25 (Call 10/03/22)(a)(b) |
13,077 | 12,374,111 | ||||||
9.25%, 04/15/25 (Call 03/16/25)(a) |
8,286 | 8,164,113 | ||||||
Service Corp. International/U.S. |
||||||||
3.38%, 08/15/30 (Call 08/15/25)(b) |
10,468 | 8,649,185 | ||||||
4.00%, 05/15/31 (Call 05/15/26)(b) |
10,666 | 9,121,720 | ||||||
4.63%, 12/15/27 (Call 12/15/22)(b) |
7,795 | 7,309,372 | ||||||
5.13%, 06/01/29 (Call 06/01/24)(b) |
10,378 | 9,799,285 | ||||||
Sotheby’s, 7.38%, 10/15/27 (Call 10/15/22)(a)(b) |
9,016 | 8,533,283 | ||||||
United Rentals North America Inc. |
||||||||
3.75%, 01/15/32 (Call 07/15/26)(b) |
11,362 | 9,472,499 | ||||||
3.88%, 02/15/31 (Call 08/15/25)(b) |
13,021 | 11,263,165 | ||||||
4.00%, 07/15/30 (Call 07/15/25)(b) |
10,829 | 9,405,043 | ||||||
4.88%, 01/15/28 (Call 01/15/23)(b) |
22,032 | 20,620,630 | ||||||
5.25%, 01/15/30 (Call 01/15/25)(b) |
11,069 | 10,474,041 | ||||||
5.50%, 05/15/27 (Call 10/03/22)(b) |
4,551 | 4,509,472 | ||||||
Verscend Escrow Corp., 9.75%, 08/15/26 |
||||||||
(Call 10/03/22)(a) |
16,476 | 16,662,179 | ||||||
Williams Scotsman International Inc., 4.63%, 08/15/28 |
||||||||
(Call 08/15/23)(a)(b) |
5,689 | 5,113,273 | ||||||
|
|
|||||||
529,975,887 | ||||||||
Computers — 1.2% | ||||||||
Booz Allen Hamilton Inc. |
||||||||
3.88%, 09/01/28 (Call 09/01/23)(a)(b) |
9,159 | 8,111,632 | ||||||
4.00%, 07/01/29 (Call 07/01/24)(a)(b) |
7,116 | 6,328,389 | ||||||
Condor Merger Sub Inc., 7.38%, 02/15/30 |
||||||||
(Call 02/15/25)(a)(b) |
26,905 | 22,471,056 | ||||||
Diebold Nixdorf Inc. |
||||||||
8.50%, 04/15/24 (Call 10/03/22)(b) |
5,355 | 3,285,292 | ||||||
9.38%, 07/15/25 (Call 09/16/22)(a)(b) |
9,004 | 7,408,041 | ||||||
Exela Intermediate LLC/Exela Finance Inc., 11.50%, 07/15/26 (Call 12/01/22)(a)(b) |
9,921 | 3,181,169 | ||||||
NCR Corp. |
||||||||
5.00%, 10/01/28 (Call 10/01/23)(a)(b) |
8,423 | 7,928,149 |
S C H E D U L E O F I N V E S T M E N T S |
9 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Computers (continued) | ||||||||
5.13%, 04/15/29 (Call 04/15/24)(a)(b) |
$ | 15,981 | $ | 14,910,433 | ||||
5.25%, 10/01/30 (Call 10/01/25)(a)(b) |
6,680 | 6,152,280 | ||||||
5.75%, 09/01/27 (Call 09/12/22)(a)(b) |
6,815 | 6,593,512 | ||||||
6.13%, 09/01/29 (Call 09/01/24)(a)(b) |
5,379 | 5,128,876 | ||||||
Presidio Holdings Inc. |
||||||||
4.88%, 02/01/27 (Call 02/01/23)(a)(b) |
6,090 | 5,697,865 | ||||||
8.25%, 02/01/28 (Call 02/01/23)(a)(b) |
6,499 | 5,885,108 | ||||||
Seagate HDD Cayman |
||||||||
3.13%, 07/15/29 (Call 01/15/24)(b) |
7,432 | 5,911,880 | ||||||
3.38%, 07/15/31 (Call 01/15/26)(b) |
7,464 | 5,784,600 | ||||||
4.09%, 06/01/29 (Call 03/01/29) |
7,403 | 6,317,403 | ||||||
4.13%, 01/15/31 (Call 10/15/30) |
7,092 | 5,782,927 | ||||||
4.75%, 01/01/25(b) |
5,008 | 4,891,564 | ||||||
4.88%, 03/01/24 (Call 01/01/24)(b) |
4,639 | 4,547,554 | ||||||
4.88%, 06/01/27 (Call 03/01/27)(b) |
5,412 | 5,105,356 | ||||||
Vericast Corp., 11.00%, 09/15/26 (Call 09/15/23)(a)(b) |
16,132 | 16,132,382 | ||||||
|
|
|||||||
157,555,468 | ||||||||
Cosmetics & Personal Care — 0.3% | ||||||||
Coty Inc. |
||||||||
5.00%, 04/15/26 (Call 04/15/23)(a) |
10,320 | 9,763,532 | ||||||
6.50%, 04/15/26 (Call 10/03/22)(a)(b) |
8,191 | 7,822,405 | ||||||
Coty Inc./HFC Prestige Products Inc./HFC Prestige International U.S. LLC, 4.75%, 01/15/29 (Call 01/15/25)(a) |
7,437 | 6,517,638 | ||||||
Edgewell Personal Care Co. |
||||||||
4.13%, 04/01/29 (Call 04/01/24)(a)(b) |
6,450 | 5,543,646 | ||||||
5.50%, 06/01/28 (Call 06/01/23)(a)(b) |
10,413 | 9,630,984 | ||||||
|
|
|||||||
39,278,205 | ||||||||
Distribution & Wholesale — 0.3% | ||||||||
American Builders & Contractors Supply Co. Inc. |
||||||||
3.88%, 11/15/29 (Call 11/15/24)(a)(b) |
5,420 | 4,445,947 | ||||||
4.00%, 01/15/28 (Call 01/15/23)(a) |
9,335 | 8,440,007 | ||||||
H&E Equipment Services Inc., 3.88%, 12/15/28 |
||||||||
(Call 12/15/23)(a)(b) |
16,747 | 14,155,402 | ||||||
Wesco Aircraft Holdings Inc. |
||||||||
8.50%, 11/15/24 (Call 10/03/22)(a) |
9,609 | 5,115,190 | ||||||
9.00%, 11/15/26 (Call 11/15/22)(a)(b) |
13,712 | 8,284,619 | ||||||
|
|
|||||||
40,441,165 | ||||||||
Diversified Financial Services — 3.4% | ||||||||
AerCap Holdings NV, 5.88%, 10/10/79 |
||||||||
(Call 10/10/24)(b)(c) |
10,597 | 9,646,802 | ||||||
AG
Issuer LLC, 6.25%, 03/01/28 |
5,350 | 4,908,291 | ||||||
AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27(b) |
3,810 | 3,810,000 | ||||||
Ally
Financial Inc., 5.75%, 11/20/25 |
14,534 | 14,701,868 | ||||||
Coinbase Global Inc. |
||||||||
3.38%, 10/01/28 (Call 10/01/24)(a)(b) |
12,937 | 8,383,463 | ||||||
3.63%, 10/01/31 (Call 10/01/26)(a)(b) |
14,143 | 8,632,180 | ||||||
Curo Group Holdings Corp., 7.50%, 08/01/28 |
||||||||
(Call 08/01/24)(a)(b) |
13,002 | 7,880,512 | ||||||
Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)(a) |
1,499 | 1,431,545 | ||||||
Jefferies Finance LLC/JFIN Co-Issuer Corp., 5.00%, 08/15/28 (Call 08/15/24)(a)(b) |
13,913 | 11,874,745 | ||||||
LD Holdings Group LLC |
||||||||
6.13%, 04/01/28 (Call 04/01/24)(a)(b) |
6,709 | 3,622,860 | ||||||
6.50%, 11/01/25 (Call 11/01/22)(a)(b) |
7,219 | 4,150,925 | ||||||
LPL Holdings Inc. |
||||||||
4.00%, 03/15/29 (Call 03/15/24)(a)(b) |
12,397 | 11,079,819 | ||||||
4.38%, 05/15/31 (Call 05/15/26)(a)(b) |
6,398 | 5,603,089 | ||||||
4.63%, 11/15/27 (Call 11/15/22)(a) |
4,658 | 4,328,084 |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) | ||||||||
Midcap Financial Issuer Trust |
||||||||
5.63%, 01/15/30 (Call 01/15/25)(a)(b) |
$ | 6,324 | $ | 4,927,187 | ||||
6.50%, 05/01/28 (Call 05/01/24)(a)(b) |
12,214 | 10,473,505 | ||||||
Nationstar Mortgage Holdings Inc. |
||||||||
5.13%, 12/15/30 (Call 12/15/25)(a)(b) |
9,211 | 7,225,937 | ||||||
5.50%, 08/15/28 (Call 08/15/23)(a) |
10,989 | 9,175,815 | ||||||
5.75%, 11/15/31 (Call 11/15/26)(a)(b) |
8,581 | 6,811,169 | ||||||
6.00%, 01/15/27 (Call 01/15/23)(a)(b) |
7,660 | 6,806,283 | ||||||
Navient Corp. |
||||||||
4.88%, 03/15/28 (Call 06/15/27) |
8,364 | 6,802,859 | ||||||
5.00%, 03/15/27 (Call 09/15/26)(b) |
9,212 | 7,891,536 | ||||||
5.50%, 03/15/29 (Call 06/15/28) |
9,228 | 7,488,591 | ||||||
5.88%, 10/25/24(b) |
5,928 | 5,708,664 | ||||||
6.13%, 03/25/24(b) |
9,421 | 9,203,186 | ||||||
6.75%, 06/25/25 |
8,647 | 8,316,793 | ||||||
6.75%, 06/15/26(b) |
6,270 | 5,919,888 | ||||||
7.25%, 09/25/23(b) |
431 | 431,000 | ||||||
NFP Corp. |
||||||||
4.88%, 08/15/28 (Call 08/15/23)(a)(b) |
7,212 | 6,382,620 | ||||||
6.88%, 08/15/28 (Call 08/15/23)(a)(b) |
27,897 | 22,945,282 | ||||||
OneMain Finance Corp. |
||||||||
3.50%, 01/15/27 (Call 01/15/24)(b) |
10,314 | 8,534,603 | ||||||
3.88%, 09/15/28 (Call 09/15/24)(b) |
8,404 | 6,580,403 | ||||||
4.00%, 09/15/30 (Call 09/15/25)(b) |
11,703 | 8,750,918 | ||||||
5.38%, 11/15/29 (Call 05/15/29)(b) |
10,269 | 8,525,837 | ||||||
6.13%, 03/15/24 (Call 09/15/23)(b) |
15,595 | 15,204,375 | ||||||
6.63%, 01/15/28 (Call 07/15/27)(b) |
10,076 | 9,257,325 | ||||||
6.88%, 03/15/25(b) |
17,034 | 16,410,130 | ||||||
7.13%, 03/15/26(b) |
20,858 | 19,454,257 | ||||||
PennyMac Financial Services Inc. |
||||||||
4.25%, 02/15/29 (Call 02/15/24)(a)(b) |
7,938 | 6,207,516 | ||||||
5.38%, 10/15/25 (Call 10/15/22)(a) |
8,912 | 8,154,480 | ||||||
5.75%, 09/15/31 (Call 09/15/26)(a) |
6,997 | 5,616,186 | ||||||
Radian Group Inc. |
||||||||
4.50%, 10/01/24 (Call 07/01/24)(b) |
520 | 498,085 | ||||||
4.88%, 03/15/27 (Call 09/15/26) |
352 | 327,969 | ||||||
6.63%, 03/15/25 (Call 09/15/24) |
491 | 490,406 | ||||||
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc. |
||||||||
2.88%, 10/15/26 (Call 10/15/23)(a)(b) |
13,824 | 11,604,359 | ||||||
3.63%, 03/01/29 (Call 03/01/24)(a)(b) |
11,147 | 8,912,027 | ||||||
3.88%, 03/01/31 (Call 03/01/26)(a)(b) |
16,468 | 12,721,530 | ||||||
4.00%, 10/15/33 (Call 10/15/27)(a) |
12,684 | 9,414,477 | ||||||
SLM Corp. |
||||||||
3.13%, 11/02/26 (Call 10/02/26)(b) |
6,381 | 5,288,254 | ||||||
4.20%, 10/29/25 (Call 09/29/25)(b) |
7,431 | 6,827,210 | ||||||
United Wholesale Mortgage LLC |
||||||||
5.50%, 11/15/25 (Call 11/15/22)(a)(b) |
11,147 | 9,837,227 | ||||||
5.50%, 04/15/29 (Call 04/15/24)(a)(b) |
9,614 | 7,458,685 | ||||||
5.75%, 06/15/27 (Call 06/15/24)(a)(b) |
6,580 | 5,474,012 | ||||||
VistaJet Malta Finance PLC/XO Management Holding Inc. |
||||||||
6.38%, 02/01/30 (Call 02/01/25)(a)(b) |
13,680 | 11,764,800 | ||||||
7.88%, 05/01/27 (Call 05/01/24)(a)(b) |
6,878 | 6,344,955 | ||||||
|
|
|||||||
436,224,524 | ||||||||
Electric — 2.5% | ||||||||
Calpine Corp. |
||||||||
3.75%, 03/01/31 (Call 03/01/26)(a)(b) |
12,577 | 10,426,333 | ||||||
4.50%, 02/15/28 (Call 02/15/23)(a)(b) |
18,594 | 17,013,510 | ||||||
4.63%, 02/01/29 (Call 02/01/24)(a)(b) |
9,695 | 8,244,992 | ||||||
5.00%, 02/01/31 (Call 02/01/26)(a)(b) |
10,911 | 9,110,685 |
10 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Electric (continued) | ||||||||
5.13%, 03/15/28 (Call 03/15/23)(a)(b) |
$ | 18,165 | $ | 16,189,876 | ||||
5.25%, 06/01/26 (Call 10/03/22)(a)(b) |
3,831 | 3,716,070 | ||||||
Clearway Energy Operating LLC |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(a)(b) |
12,576 | 10,502,985 | ||||||
4.75%, 03/15/28 (Call 03/15/23)(a)(b) |
11,322 | 10,529,460 | ||||||
DPL Inc. |
||||||||
4.13%, 07/01/25 (Call 04/01/25) |
6,555 | 6,186,281 | ||||||
4.35%, 04/15/29 (Call 01/15/29)(b) |
4,729 | 4,161,993 | ||||||
Electricite de France SA |
||||||||
5.25%, (Call 01/29/23)(a)(c)(d) |
440 | 424,102 | ||||||
5.63%, (Call 01/22/24)(a)(b)(c)(d) |
19,002 | 17,761,692 | ||||||
Emera Inc., Series 16-A, 6.75%, 06/15/76 |
||||||||
(Call 06/15/26)(b)(c) |
17,128 | 17,383,721 | ||||||
FirstEnergy Corp. |
||||||||
2.65%, 03/01/30 (Call 12/01/29)(b) |
7,651 | 6,550,854 | ||||||
Series B, 2.25%, 09/01/30 (Call 06/01/30)(b) |
5,491 | 4,493,857 | ||||||
Series B, 4.40%, 07/15/27 (Call 04/15/27)(b) |
20,463 | 19,623,812 | ||||||
NextEra Energy Operating Partners LP |
||||||||
3.88%, 10/15/26 (Call 07/15/26)(a)(b) |
7,082 | 6,594,817 | ||||||
4.25%, 07/15/24 (Call 04/15/24)(a)(b) |
8,901 | 8,620,022 | ||||||
4.25%, 09/15/24 (Call 07/15/24)(a) |
718 | 691,833 | ||||||
4.50%, 09/15/27 (Call 06/15/27)(a)(b) |
7,897 | 7,304,725 | ||||||
NRG Energy Inc. |
||||||||
3.38%, 02/15/29 (Call 02/15/24)(a)(b) |
6,307 | 5,193,726 | ||||||
3.63%, 02/15/31 (Call 02/15/26)(a)(b) |
13,477 | 10,721,627 | ||||||
3.88%, 02/15/32 (Call 02/15/27)(a)(b) |
15,023 | 11,868,471 | ||||||
5.25%, 06/15/29 (Call 06/15/24)(a)(b) |
9,582 | 8,577,806 | ||||||
5.75%, 01/15/28 (Call 01/15/23)(b) |
10,454 | 9,851,850 | ||||||
PG&E Corp. |
||||||||
5.00%, 07/01/28 (Call 07/01/23)(b) |
12,933 | 11,452,560 | ||||||
5.25%, 07/01/30 (Call 07/01/25)(b) |
14,087 | 12,178,212 | ||||||
Vistra Operations Co. LLC |
||||||||
4.38%, 05/01/29 (Call 05/01/24)(a) |
14,979 | 12,990,644 | ||||||
5.00%, 07/31/27 (Call 09/12/22)(a)(b) |
18,761 | 17,471,181 | ||||||
5.50%, 09/01/26 (Call 09/12/22)(a)(b) |
14,154 | 13,641,431 | ||||||
5.63%, 02/15/27 (Call 09/12/22)(a)(b) |
18,017 | 17,397,576 | ||||||
|
|
|||||||
316,876,704 | ||||||||
Electrical Components & Equipment — 0.4% | ||||||||
Energizer Holdings Inc. |
||||||||
4.38%, 03/31/29 (Call 09/30/23)(a)(b) |
10,274 | 8,359,440 | ||||||
4.75%, 06/15/28 (Call 06/15/23)(a)(b) |
8,550 | 7,150,023 | ||||||
WESCO Distribution Inc. |
||||||||
7.13%, 06/15/25 (Call 10/03/22)(a)(b) |
20,168 | 20,192,774 | ||||||
7.25%, 06/15/28 (Call 06/15/23)(a)(b) |
17,423 | 17,567,263 | ||||||
|
|
|||||||
53,269,500 | ||||||||
Electronics — 0.6% | ||||||||
Imola Merger Corp., 4.75%, 05/15/29 |
||||||||
(Call 05/15/24)(a)(b) |
26,970 | 22,861,471 | ||||||
Sensata Technologies BV |
||||||||
4.00%, 04/15/29 (Call 04/15/24)(a)(b) |
13,316 | 11,516,209 | ||||||
4.88%, 10/15/23(a) |
2,953 | 2,972,564 | ||||||
5.00%, 10/01/25(a)(b) |
8,865 | 8,705,962 | ||||||
5.63%, 11/01/24(a)(b) |
4,495 | 4,511,533 | ||||||
5.88%, 09/01/30(b) |
7,570 | 7,399,675 | ||||||
Sensata Technologies Inc. |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(a)(b) |
10,372 | 8,555,748 | ||||||
4.38%, 02/15/30 (Call 11/15/29)(a)(b) |
5,995 | 5,320,562 | ||||||
|
|
|||||||
71,843,724 |
Security |
Par (000) |
Value | ||||||
Energy - Alternate Sources — 0.1% | ||||||||
TerraForm Power Operating LLC |
||||||||
4.75%, 01/15/30 (Call 01/15/25)(a)(b) |
$ | 10,523 | $ | 9,309,648 | ||||
5.00%, 01/31/28 (Call 07/31/27)(a)(b) |
7,620 | 7,009,860 | ||||||
|
|
|||||||
16,319,508 | ||||||||
Engineering & Construction — 0.1% | ||||||||
Brand Industrial Services Inc., 8.50%, 07/15/25 |
||||||||
(Call 10/03/22)(a)(b) |
13,304 | 10,776,240 | ||||||
|
|
|||||||
Entertainment — 3.0% | ||||||||
AMC Entertainment Holdings Inc., 7.50%, 02/15/29 |
||||||||
(Call 02/15/25)(a)(b) |
12,194 | 10,486,840 | ||||||
Caesars Entertainment Inc. |
||||||||
4.63%, 10/15/29 (Call 10/15/24)(a)(b) |
14,939 | 12,034,858 | ||||||
6.25%, 07/01/25 (Call 09/12/22)(a) |
46,811 | 45,767,115 | ||||||
8.13%, 07/01/27 (Call 07/01/23)(a)(b) |
23,359 | 22,979,416 | ||||||
Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 09/12/22)(a)(b) |
13,111 | 12,865,169 | ||||||
CDI Escrow Issuer Inc., 5.75%, 04/01/30 |
||||||||
(Call 04/01/25)(a)(b) |
15,686 | 14,478,178 | ||||||
Cedar Fair LP, 5.25%, 07/15/29 (Call 07/15/24)(b) |
6,910 | 6,243,876 | ||||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op |
||||||||
5.38%, 04/15/27 (Call 10/03/22)(b) |
5,642 | 5,310,702 | ||||||
5.50%, 05/01/25 (Call 10/03/22)(a) |
12,626 | 12,420,827 | ||||||
Churchill Downs Inc. |
||||||||
4.75%, 01/15/28 (Call 01/15/23)(a)(b) |
10,087 | 9,137,645 | ||||||
5.50%, 04/01/27 (Call 10/03/22)(a)(b) |
6,513 | 6,242,651 | ||||||
Cinemark USA Inc. |
||||||||
5.25%, 07/15/28 (Call 07/15/24)(a)(b) |
9,408 | 7,632,240 | ||||||
5.88%, 03/15/26 (Call 03/15/23)(a)(b) |
6,227 | 5,524,594 | ||||||
International Game Technology PLC |
||||||||
4.13%, 04/15/26 (Call 04/15/23)(a)(b) |
9,787 | 8,912,532 | ||||||
5.25%, 01/15/29 (Call 01/15/24)(a)(b) |
10,871 | 10,161,993 | ||||||
6.25%, 01/15/27 (Call 07/15/26)(a)(b) |
8,522 | 8,323,693 | ||||||
6.50%, 02/15/25 (Call 08/15/24)(a) |
14,631 | 14,521,267 | ||||||
Lions Gate Capital Holdings LLC, 5.50%, 04/15/29 |
||||||||
(Call 04/15/24)(a)(b) |
10,765 | 8,520,497 | ||||||
Live Nation Entertainment Inc. |
||||||||
3.75%, 01/15/28 (Call 01/15/24)(a)(b) |
6,348 | 5,571,767 | ||||||
4.75%, 10/15/27 (Call 10/15/22)(a)(b) |
12,158 | 11,082,017 | ||||||
4.88%, 11/01/24 (Call 10/03/22)(a)(b) |
6,038 | 5,887,654 | ||||||
6.50%, 05/15/27 (Call 05/15/23)(a)(b) |
15,091 | 15,015,545 | ||||||
Mohegan Gaming & Entertainment |
||||||||
7.88%, 10/15/24 (Call 09/16/22)(a)(b) |
2,038 | 2,075,799 | ||||||
8.00%, 02/01/26 (Call 02/01/23)(a) |
15,591 | 13,594,183 | ||||||
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. |
||||||||
5.63%, 09/01/29 (Call 09/01/24)(a)(b) |
10,361 | 7,616,371 | ||||||
5.88%, 09/01/31 (Call 09/01/26)(a)(b) |
9,904 | 6,926,659 | ||||||
Resorts World Las Vegas LLC/RWLV Capital Inc., |
||||||||
4.63%, 04/16/29 (Call 01/16/29)(a) |
13,329 | 10,926,933 | ||||||
Scientific Games International Inc. |
||||||||
7.00%, 05/15/28 (Call 05/15/23)(a)(b) |
9,527 | 9,316,453 | ||||||
7.25%, 11/15/29 (Call 11/15/24)(a)(b) |
6,938 | 6,833,930 | ||||||
8.63%, 07/01/25 (Call 10/03/22)(a) |
5,010 | 5,147,650 | ||||||
Six Flags Entertainment Corp. |
||||||||
4.88%, 07/31/24 (Call 10/03/22)(a)(b) |
8,520 | 8,157,885 | ||||||
5.50%, 04/15/27 (Call 10/03/22)(a)(b) |
7,594 | 6,959,901 | ||||||
Six Flags Theme Parks Inc., 7.00%, 07/01/25 |
||||||||
(Call 10/03/22)(a)(b) |
2,938 | 2,959,154 |
S C H E D U L E O F I N V E S T M E N T S |
11 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Entertainment (continued) | ||||||||
WMG Acquisition Corp. |
||||||||
3.00%, 02/15/31 (Call 02/15/26)(a)(b) |
$ | 10,458 | $ | 8,301,037 | ||||
3.75%, 12/01/29 (Call 12/01/24)(a)(b) |
5,246 | 4,455,795 | ||||||
3.88%, 07/15/30 (Call 07/15/25)(a)(b) |
7,839 | 6,741,540 | ||||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |
||||||||
5.13%, 10/01/29 (Call 07/01/29)(a)(b) |
9,277 | 7,778,301 | ||||||
7.75%, 04/15/25 (Call 10/03/22)(a)(b) |
8,226 | 8,194,803 | ||||||
|
|
|||||||
375,107,470 | ||||||||
Environmental Control — 0.8% | ||||||||
Covanta Holding Corp. |
||||||||
4.88%, 12/01/29 (Call 12/01/24)(a)(b) |
9,509 | 8,014,432 | ||||||
5.00%, 09/01/30 (Call 09/01/25)(b) |
6,139 | 5,187,455 | ||||||
GFL Environmental Inc. |
||||||||
3.50%, 09/01/28 (Call 03/01/28)(a)(b) |
9,992 | 8,680,550 | ||||||
3.75%, 08/01/25 (Call 10/03/22)(a)(b) |
8,783 | 8,250,579 | ||||||
4.00%, 08/01/28 (Call 08/01/23)(a)(b) |
10,127 | 8,600,057 | ||||||
4.25%, 06/01/25 (Call 10/03/22)(a)(b) |
4,364 | 4,168,711 | ||||||
4.38%, 08/15/29 (Call 08/15/24)(a)(b) |
7,776 | 6,560,767 | ||||||
4.75%, 06/15/29 (Call 06/15/24)(a)(b) |
9,898 | 8,624,089 | ||||||
5.13%, 12/15/26 (Call 12/15/22)(a)(b) |
5,412 | 5,225,334 | ||||||
Madison IAQ LLC |
||||||||
4.13%, 06/30/28 (Call 06/30/24)(a)(b) |
10,064 | 8,636,982 | ||||||
5.88%, 06/30/29 (Call 06/30/24)(a)(b) |
13,223 | 10,834,662 | ||||||
Stericycle Inc. |
||||||||
3.88%, 01/15/29 (Call 11/15/23)(a)(b) |
7,941 | 6,878,789 | ||||||
5.38%, 07/15/24 (Call 09/16/22)(a) |
7,119 | 6,924,113 | ||||||
|
|
|||||||
96,586,520 | ||||||||
Food — 2.1% | ||||||||
Albertsons Companies Inc./Safeway Inc./New Albertsons LP/Albertsons LLC |
||||||||
3.25%, 03/15/26 (Call 10/03/22)(a)(b) |
10,128 | 9,077,284 | ||||||
3.50%, 03/15/29 (Call 09/15/23)(a) |
19,360 | 15,856,945 | ||||||
4.63%, 01/15/27 (Call 01/15/23)(a)(b) |
16,974 | 15,427,499 | ||||||
4.88%, 02/15/30 (Call 02/15/25)(a)(b) |
13,333 | 11,684,708 | ||||||
5.88%, 02/15/28 (Call 10/03/22)(a)(b) |
10,742 | 10,235,112 | ||||||
7.50%, 03/15/26 (Call 10/03/22)(a)(b) |
7,125 | 7,287,806 | ||||||
B&G Foods Inc. |
||||||||
5.25%, 04/01/25 (Call 10/03/22)(b) |
13,104 | 11,695,320 | ||||||
5.25%, 09/15/27 (Call 10/03/22)(b) |
5,995 | 5,005,825 | ||||||
Lamb Weston Holdings Inc. |
||||||||
4.13%, 01/31/30 (Call 01/31/25)(a)(b) |
12,541 | 11,302,576 | ||||||
4.38%, 01/31/32 (Call 01/31/27)(a)(b) |
10,103 | 8,967,495 | ||||||
4.88%, 05/15/28 (Call 11/15/27)(a)(b) |
5,882 | 5,612,374 | ||||||
Performance Food Group Inc. |
||||||||
4.25%, 08/01/29 (Call 08/01/24)(a)(b) |
12,590 | 10,795,925 | ||||||
5.50%, 10/15/27 (Call 10/15/22)(a)(b) |
14,924 | 14,065,870 | ||||||
Pilgrim’s Pride Corp. |
||||||||
3.50%, 03/01/32 (Call 09/01/26)(a)(b) |
12,626 | 10,274,407 | ||||||
4.25%, 04/15/31 (Call 04/15/26)(a) |
13,870 | 11,948,728 | ||||||
5.88%, 09/30/27 (Call 10/03/22)(a)(b) |
9,423 | 9,281,655 | ||||||
Post Holdings Inc. |
||||||||
4.50%, 09/15/31 (Call 09/15/26)(a)(b) |
16,768 | 14,266,214 | ||||||
4.63%, 04/15/30 (Call 04/15/25)(a)(b) |
21,740 | 18,907,061 | ||||||
5.50%, 12/15/29 (Call 12/15/24)(a)(b) |
15,516 | 14,178,831 | ||||||
5.63%, 01/15/28 (Call 12/01/22)(a)(b) |
14,474 | 13,750,300 | ||||||
5.75%, 03/01/27 (Call 09/16/22)(a)(b) |
4,182 | 4,082,358 | ||||||
U.S. Foods Inc. |
||||||||
4.63%, 06/01/30 (Call 06/01/25)(a)(b) |
7,085 | 6,110,813 |
Security |
Par (000) |
Value | ||||||
Food (continued) | ||||||||
4.75%, 02/15/29 (Call 02/15/24)(a)(b) |
$ | 13,160 | $ | 11,684,435 | ||||
6.25%, 04/15/25 (Call 10/03/22)(a) |
12,173 | 12,249,081 | ||||||
|
|
|||||||
263,748,622 | ||||||||
Food Service — 0.4% | ||||||||
Aramark Services Inc. |
||||||||
5.00%, 04/01/25 (Call 10/03/22)(a) |
5,299 | 5,149,419 | ||||||
5.00%, 02/01/28 (Call 02/01/23)(a)(b) |
16,413 | 15,097,498 | ||||||
6.38%, 05/01/25 (Call 10/03/22)(a)(b) |
19,334 | 19,130,800 | ||||||
TKC Holdings Inc. |
||||||||
6.88%, 05/15/28 (Call 05/15/24)(a)(b) |
5,129 | 4,321,182 | ||||||
10.50%, 05/15/29 (Call 05/15/24)(a)(b) |
9,412 | 7,538,071 | ||||||
|
|
|||||||
51,236,970 | ||||||||
Forest Products & Paper — 0.1% | ||||||||
Mercer International Inc., 5.13%, 02/01/29 |
||||||||
(Call 02/01/24)(b) |
12,103 | 10,566,524 | ||||||
|
|
|||||||
Gas — 0.3% | ||||||||
AmeriGas Partners LP/AmeriGas Finance Corp. |
||||||||
5.50%, 05/20/25 (Call 02/20/25)(b) |
8,686 | 8,223,616 | ||||||
5.63%, 05/20/24 (Call 03/20/24)(b) |
7,351 | 7,259,112 | ||||||
5.75%, 05/20/27 (Call 02/20/27)(b) |
7,606 | 7,145,837 | ||||||
5.88%, 08/20/26 (Call 05/20/26)(b) |
10,198 | 9,706,864 | ||||||
|
|
|||||||
32,335,429 | ||||||||
Health Care - Products — 1.1% | ||||||||
Avantor Funding Inc. |
||||||||
3.88%, 11/01/29 (Call 11/01/24)(a)(b) |
9,396 | 8,117,968 | ||||||
4.63%, 07/15/28 (Call 07/15/23)(a)(b) |
21,170 | 19,292,221 | ||||||
Hologic Inc. |
||||||||
3.25%, 02/15/29 (Call 09/28/23)(a)(b) |
11,395 | 9,728,481 | ||||||
4.63%, 02/01/28 (Call 02/01/23)(a)(b) |
6,931 | 6,552,394 | ||||||
Mozart Debt Merger Sub Inc. |
||||||||
3.88%, 04/01/29 (Call 10/01/24)(a) |
62,099 | 52,628,902 | ||||||
5.25%, 10/01/29 (Call 10/01/24)(a)(b) |
33,048 | 27,659,524 | ||||||
Teleflex Inc. |
||||||||
4.25%, 06/01/28 (Call 06/01/23)(a)(b) |
5,646 | 5,120,019 | ||||||
4.63%, 11/15/27 (Call 11/15/22)(b) |
8,652 | 8,109,808 | ||||||
|
|
|||||||
137,209,317 | ||||||||
Health Care - Services — 5.7% | ||||||||
Catalent Pharma Solutions Inc. |
||||||||
3.13%, 02/15/29 (Call 02/15/24)(a)(b) |
7,583 | 6,229,453 | ||||||
3.50%, 04/01/30 (Call 04/01/25)(a) |
8,098 | 6,670,728 | ||||||
5.00%, 07/15/27 (Call 10/03/22)(a)(b) |
5,849 | 5,527,656 | ||||||
Centene Corp. |
||||||||
2.45%, 07/15/28 (Call 05/15/28)(b) |
31,206 | 26,281,915 | ||||||
2.50%, 03/01/31 (Call 12/01/30)(b) |
29,361 | 23,231,891 | ||||||
2.63%, 08/01/31 (Call 05/01/31) |
17,010 | 13,529,754 | ||||||
3.00%, 10/15/30 (Call 07/15/30) |
28,943 | 24,118,202 | ||||||
3.38%, 02/15/30 (Call 02/15/25) |
26,460 | 22,689,450 | ||||||
4.25%, 12/15/27 (Call 12/15/22)(b) |
33,998 | 32,170,607 | ||||||
4.63%, 12/15/29 (Call 12/15/24)(b) |
49,121 | 45,977,256 | ||||||
Charles River Laboratories International Inc. |
||||||||
3.75%, 03/15/29 (Call 03/15/24)(a) |
5,368 | 4,616,480 | ||||||
4.00%, 03/15/31 (Call 03/15/26)(a)(b) |
6,684 | 5,652,325 | ||||||
4.25%, 05/01/28 (Call 05/01/23)(a)(b) |
7,801 | 7,179,260 | ||||||
CHS/Community Health Systems Inc. |
||||||||
4.75%, 02/15/31 (Call 02/15/26)(a)(b) |
15,001 | 11,096,240 | ||||||
5.25%, 05/15/30 (Call 05/15/25)(a)(b) |
21,092 | 16,003,555 | ||||||
5.63%, 03/15/27 (Call 12/15/23)(a)(b) |
25,088 | 21,204,378 | ||||||
6.00%, 01/15/29 (Call 01/15/24)(a)(b) |
13,068 | 10,737,043 |
12 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Health Care - Services (continued) | ||||||||
6.13%, 04/01/30 (Call 04/01/25)(a)(b) |
$ | 18,903 | $ | 11,719,860 | ||||
6.88%, 04/01/28 (Call 04/01/23)(a)(b) |
10,036 | 5,277,263 | ||||||
6.88%, 04/15/29 (Call 04/15/24)(a) |
24,000 | 15,000,000 | ||||||
8.00%, 03/15/26 (Call 10/03/22)(a)(b) |
27,918 | 26,040,515 | ||||||
8.00%, 12/15/27 (Call 12/15/22)(a)(b) |
9,056 | 7,876,003 | ||||||
DaVita Inc. |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(a) |
19,299 | 14,143,465 | ||||||
4.63%, 06/01/30 (Call 06/01/25)(a)(b) |
36,971 | 29,294,896 | ||||||
Encompass Health Corp. |
||||||||
4.50%, 02/01/28 (Call 02/01/23)(b) |
11,548 | 10,111,366 | ||||||
4.63%, 04/01/31 (Call 04/01/26)(b) |
5,558 | 4,603,890 | ||||||
4.75%, 02/01/30 (Call 02/01/25)(b) |
9,785 | 8,349,331 | ||||||
HCA Inc. |
||||||||
5.38%, 02/01/25(b) |
255 | 257,241 | ||||||
5.88%, 02/15/26 (Call 08/15/25)(b) |
433 | 442,136 | ||||||
IQVIA Inc. |
||||||||
5.00%, 10/15/26 (Call 10/03/22)(a)(b) |
13,548 | 13,142,237 | ||||||
5.00%, 05/15/27 (Call 10/03/22)(a)(b) |
13,369 | 12,860,719 | ||||||
Legacy LifePoint Health LLC |
||||||||
4.38%, 02/15/27 (Call 10/03/22)(a)(b) |
9,427 | 8,151,998 | ||||||
6.75%, 04/15/25 (Call 10/03/22)(a)(b) |
7,743 | 7,617,176 | ||||||
Lifepoint Health Inc., 5.38%, 01/15/29 |
||||||||
(Call 01/15/24)(a)(b) |
6,747 | 5,110,853 | ||||||
ModivCare Escrow Issuer Inc., 5.00%, 10/01/29 |
||||||||
(Call 10/01/24)(a) |
6,329 | 5,530,059 | ||||||
ModivCare
Inc., 5.88%, 11/15/25 |
6,449 | 6,091,377 | ||||||
Molina Healthcare Inc. |
||||||||
3.88%, 11/15/30 (Call 08/17/30)(a)(b) |
7,418 | 6,420,650 | ||||||
3.88%, 05/15/32 (Call 02/15/32)(a)(b) |
9,898 | 8,484,368 | ||||||
4.38%, 06/15/28 (Call 06/15/23)(a)(b) |
10,930 | 10,082,925 | ||||||
Radiology Partners Inc., 9.25%, 02/01/28 |
||||||||
(Call 02/01/23)(a)(b) |
9,830 | 7,539,364 | ||||||
RegionalCare Hospital Partners Holdings Inc./LifePoint Health Inc., 9.75%, 12/01/26 (Call 10/03/22)(a)(b) |
19,025 | 18,168,875 | ||||||
RP Escrow Issuer LLC, 5.25%, 12/15/25 |
||||||||
(Call 12/15/22)(a)(b) |
11,435 | 10,273,813 | ||||||
Select Medical Corp., 6.25%, 08/15/26 |
||||||||
(Call 10/03/22)(a)(b) |
14,737 | 14,088,498 | ||||||
Tenet Healthcare Corp. |
||||||||
4.25%, 06/01/29 (Call 06/01/24)(a) |
17,128 | 14,784,033 | ||||||
4.38%, 01/15/30 (Call 12/01/24)(a)(b) |
18,907 | 16,543,625 | ||||||
4.63%, 07/15/24 (Call 10/03/22)(b) |
8,700 | 8,475,431 | ||||||
4.63%, 09/01/24 (Call 09/16/22)(a)(b) |
7,180 | 6,994,286 | ||||||
4.63%, 06/15/28 (Call 06/15/23)(a)(b) |
7,703 | 6,998,176 | ||||||
4.88%, 01/01/26 (Call 10/03/22)(a) |
29,757 | 28,269,150 | ||||||
5.13%, 11/01/27 (Call 11/01/22)(a) |
21,187 | 19,492,040 | ||||||
6.13%, 10/01/28 (Call 10/01/23)(a)(b) |
33,285 | 30,469,645 | ||||||
6.13%, 06/15/30 (Call 06/15/25)(a) |
26,713 | 25,677,871 | ||||||
6.25%, 02/01/27 (Call 10/03/22)(a)(b) |
21,434 | 20,534,269 | ||||||
|
|
|||||||
727,833,597 | ||||||||
Holding Companies - Diversified — 0.6% | ||||||||
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29 (Call 04/15/24)(a)(b) |
14,099 | 12,009,618 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp. |
||||||||
4.38%, 02/01/29 (Call 08/01/28)(b) |
10,279 | 8,721,809 | ||||||
4.75%, 09/15/24 (Call 06/15/24) |
12,711 | 12,070,922 | ||||||
5.25%, 05/15/27 (Call 11/15/26) |
20,332 | 18,370,979 | ||||||
6.25%, 05/15/26 (Call 10/03/22)(b) |
17,706 | 17,004,488 |
Security |
Par (000) |
Value | ||||||
Holding Companies - Diversified (continued) | ||||||||
6.38%, 12/15/25 (Call 10/03/22)(b) |
$ | 8,780 | $ | 8,533,282 | ||||
|
|
|||||||
76,711,098 | ||||||||
Home Builders — 0.6% | ||||||||
Ashton Woods USA LLC/Ashton Woods Finance Co., |
||||||||
4.63%, 04/01/30 (Call 04/01/25)(a) |
5,240 | 4,136,980 | ||||||
Brookfield Residential Properties Inc./Brookfield Residential U.S. LLC |
||||||||
4.88%, 02/15/30 (Call 02/15/25)(a) |
8,131 | 6,281,198 | ||||||
6.25%, 09/15/27 (Call 10/03/22)(a)(b) |
6,770 | 6,019,546 | ||||||
Century Communities Inc. |
||||||||
3.88%, 08/15/29 (Call 02/15/29)(a)(b) |
6,765 | 5,414,706 | ||||||
6.75%, 06/01/27 (Call 10/03/22)(b) |
6,522 | 6,407,865 | ||||||
Mattamy Group Corp. |
||||||||
4.63%, 03/01/30 (Call 03/01/25)(a)(b) |
8,285 | 6,702,119 | ||||||
5.25%, 12/15/27 (Call 12/15/22)(a)(b) |
7,014 | 6,172,495 | ||||||
Meritage Homes Corp. |
||||||||
3.88%, 04/15/29 (Call 10/15/28)(a)(b) |
6,252 | 5,289,505 | ||||||
6.00%, 06/01/25 (Call 03/01/25)(b) |
6,404 | 6,389,911 | ||||||
Picasso Finance Sub Inc., 6.13%, 06/15/25 |
||||||||
(Call 09/16/22)(a)(b) |
6,138 | 6,149,478 | ||||||
Taylor Morrison Communities Inc. |
||||||||
5.13%, 08/01/30 (Call 02/01/30)(a) |
7,696 | 6,580,773 | ||||||
5.75%, 01/15/28 (Call 10/15/27)(a)(b) |
5,683 | 5,201,585 | ||||||
5.88%, 06/15/27 (Call 03/15/27)(a)(b) |
6,867 | 6,605,367 | ||||||
TRI Pointe Group Inc./TRI Pointe Homes Inc., 5.88%, 06/15/24(b) |
5,044 | 4,972,924 | ||||||
|
|
|||||||
82,324,452 | ||||||||
Home Furnishings — 0.1% | ||||||||
Tempur Sealy International Inc. |
||||||||
3.88%, 10/15/31 (Call 10/15/26)(a) |
11,555 | 8,841,968 | ||||||
4.00%, 04/15/29 (Call 04/15/24)(a)(b) |
9,545 | 7,852,862 | ||||||
|
|
|||||||
16,694,830 | ||||||||
Household Products & Wares — 0.3% | ||||||||
Central Garden & Pet Co. |
||||||||
4.13%, 10/15/30 (Call 10/15/25)(b) |
7,264 | 6,044,574 | ||||||
4.13%, 04/30/31 (Call 04/30/26)(a)(b) |
4,728 | 3,881,537 | ||||||
Kronos Acquisition Holdings Inc./KIK Custom Products Inc. |
||||||||
5.00%, 12/31/26 (Call 06/30/23)(a)(b) |
6,788 | 6,143,140 | ||||||
7.00%, 12/31/27 (Call 12/31/23)(a)(b) |
6,715 | 5,539,875 | ||||||
Spectrum Brands Inc. |
||||||||
3.88%, 03/15/31 (Call 03/15/26)(a)(b) |
7,230 | 5,584,452 | ||||||
5.75%, 07/15/25 (Call 10/03/22)(b) |
6,182 | 6,077,768 | ||||||
|
|
|||||||
33,271,346 | ||||||||
Housewares — 0.4% | ||||||||
Newell Brands Inc. |
||||||||
4.45%, 04/01/26 (Call 01/01/26) |
27,510 | 25,908,093 | ||||||
4.88%, 06/01/25 (Call 05/01/25)(b) |
4,996 | 4,906,072 | ||||||
Scotts Miracle-Gro Co. (The) |
||||||||
4.00%, 04/01/31 (Call 04/01/26)(b) |
6,370 | 4,788,329 | ||||||
4.38%, 02/01/32 (Call 08/01/26)(b) |
5,538 | 4,181,190 | ||||||
4.50%, 10/15/29 (Call 10/15/24)(b) |
6,006 | 4,819,815 | ||||||
|
|
|||||||
44,603,499 | ||||||||
Insurance — 1.0% | ||||||||
Acrisure LLC/Acrisure Finance Inc. |
||||||||
4.25%, 02/15/29 (Call 02/15/24)(a)(b) |
8,124 | 6,900,860 | ||||||
6.00%, 08/01/29 (Call 08/01/24)(a)(b) |
6,472 | 5,262,592 | ||||||
7.00%, 11/15/25 (Call 10/03/22)(a)(b) |
11,514 | 10,855,169 | ||||||
10.13%, 08/01/26 (Call 10/03/22)(a)(b) |
6,846 | 6,853,311 |
S C H E D U L E O F I N V E S T M E N T S |
13 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Insurance (continued) | ||||||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer |
||||||||
4.25%, 10/15/27 (Call 10/15/23)(a)(b) |
$ | 10,042 | $ | 9,070,185 | ||||
5.88%, 11/01/29 (Call 11/01/24)(a)(b) |
6,106 | 5,260,319 | ||||||
6.75%, 10/15/27 (Call 10/15/22)(a)(b) |
17,648 | 16,059,680 | ||||||
AssuredPartners Inc. |
||||||||
5.63%, 01/15/29 (Call 12/15/23)(a)(b) |
8,073 | 6,716,448 | ||||||
7.00%, 08/15/25 (Call 10/03/22)(a)(b) |
5,490 | 5,282,478 | ||||||
Enstar Finance LLC, 5.50%, 01/15/42 (Call 01/15/27)(c) |
5,640 | 4,787,627 | ||||||
Global Atlantic Fin Co., 4.70%, 10/15/51 |
||||||||
(Call 07/15/26)(a)(b)(c) |
10,262 | 8,484,556 | ||||||
GTCR AP Finance Inc., 8.00%, 05/15/27 |
||||||||
(Call 10/03/22)(a)(b) |
4,725 | 4,583,587 | ||||||
HUB International Ltd. |
||||||||
5.63%, 12/01/29 (Call 12/01/24)(a)(b) |
8,145 | 7,131,110 | ||||||
7.00%, 05/01/26 (Call 09/12/22)(a)(b) |
20,806 | 20,415,887 | ||||||
Liberty Mutual Group Inc. |
||||||||
4.13%, 12/15/51 (Call 09/15/26)(a)(b)(c) |
6,809 | 5,675,356 | ||||||
4.30%, 02/01/61 (Call 02/01/26)(a) |
10,909 | 7,247,667 | ||||||
|
|
|||||||
130,586,832 | ||||||||
Internet — 1.5% | ||||||||
Arches Buyer Inc. |
||||||||
4.25%, 06/01/28 (Call 12/01/23)(a) |
13,360 | 10,754,800 | ||||||
6.13%, 12/01/28 (Call 12/01/23)(a)(b) |
6,028 | 4,715,102 | ||||||
Go Daddy Operating Co. LLC/GD Finance Co. Inc. |
||||||||
3.50%, 03/01/29 (Call 03/01/24)(a)(b) |
9,419 | 7,955,099 | ||||||
5.25%, 12/01/27 (Call 10/03/22)(a)(b) |
8,137 | 7,684,545 | ||||||
Match Group Holdings II LLC |
||||||||
3.63%, 10/01/31 (Call 10/01/26)(a) |
6,259 | 4,923,955 | ||||||
4.13%, 08/01/30 (Call 05/01/25)(a)(b) |
7,049 | 5,838,840 | ||||||
4.63%, 06/01/28 (Call 06/01/23)(a)(b) |
5,581 | 5,046,340 | ||||||
5.00%, 12/15/27 (Call 12/15/22)(a)(b) |
6,586 | 6,075,585 | ||||||
NortonLifeLock Inc., 5.00%, 04/15/25 |
||||||||
(Call 09/12/22)(a)(b) |
13,224 | 12,985,943 | ||||||
Photo Holdings Merger Sub Inc., 8.50%, 10/01/26 |
||||||||
(Call 10/03/22)(a) |
10,476 | 7,768,391 | ||||||
Rakuten Group Inc. |
||||||||
5.13%, (Call 04/22/26)(a)(b)(c)(d) |
10,212 | 8,214,930 | ||||||
6.25%, (Call 04/22/31)(a)(b)(c)(d) |
13,146 | 10,493,073 | ||||||
Twitter Inc. |
||||||||
3.88%, 12/15/27 (Call 09/15/27)(a)(b) |
8,352 | 7,750,405 | ||||||
5.00%, 03/01/30 (Call 12/01/29)(a)(b) |
13,357 | 12,597,321 | ||||||
Uber Technologies Inc. |
||||||||
4.50%, 08/15/29 (Call 08/15/24)(a)(b) |
20,241 | 17,457,863 | ||||||
6.25%, 01/15/28 (Call 09/15/23)(a)(b) |
5,200 | 4,983,784 | ||||||
7.50%, 05/15/25 (Call 10/03/22)(a)(b) |
12,020 | 12,126,355 | ||||||
7.50%, 09/15/27 (Call 10/03/22)(a)(b) |
16,765 | 16,790,986 | ||||||
8.00%, 11/01/26 (Call 10/03/22)(a)(b) |
21,155 | 21,404,403 | ||||||
|
|
|||||||
185,567,720 | ||||||||
Iron & Steel — 0.4% | ||||||||
Cleveland-Cliffs Inc. |
||||||||
4.63%, 03/01/29 (Call 03/01/24)(a)(b) |
2,217 | 1,971,744 | ||||||
4.88%, 03/01/31 (Call 03/01/26)(a)(b) |
2,760 | 2,394,300 | ||||||
5.88%, 06/01/27 (Call 10/03/22)(b) |
5,974 | 5,720,105 | ||||||
6.75%, 03/15/26 (Call 10/03/22)(a)(b) |
10,407 | 10,524,079 | ||||||
Mineral Resources Ltd. |
||||||||
8.00%, 11/01/27 (Call 11/01/24)(a)(b) |
7,513 | 7,514,421 | ||||||
8.13%, 05/01/27 (Call 10/03/22)(a) |
8,885 | 8,910,068 | ||||||
8.50%, 05/01/30 (Call 05/01/25)(a)(b) |
9,644 | 9,716,330 |
Security |
Par (000) |
Value | ||||||
Iron & Steel (continued) | ||||||||
U.S.
Steel Corp., 6.88%, 03/01/29 |
$ | 10,754 | $ | 10,425,035 | ||||
|
|
|||||||
57,176,082 | ||||||||
Leisure Time — 0.7% | ||||||||
Life Time Inc. |
||||||||
5.75%, 01/15/26 (Call 01/15/23)(a)(b) |
13,708 | 12,200,600 | ||||||
8.00%, 04/15/26 (Call 02/01/23)(a)(b) |
5,718 | 5,047,450 | ||||||
NCL Corp. Ltd. |
||||||||
3.63%, 12/15/24 (Call 09/12/22)(a)(b) |
8,433 | 7,323,085 | ||||||
5.88%, 03/15/26 (Call 12/15/25)(a)(b) |
19,403 | 15,740,684 | ||||||
5.88%, 02/15/27 (Call 02/15/24)(a) |
12,121 | 11,005,868 | ||||||
7.75%, 02/15/29 (Call 11/15/28)(a)(b) |
8,472 | 6,863,732 | ||||||
NCL
Finance Ltd., 6.13%, 03/15/28 |
6,323 | 4,900,325 | ||||||
Viking Cruises Ltd. |
||||||||
5.88%, 09/15/27 (Call 10/03/22)(a)(b) |
10,633 | 8,562,436 | ||||||
7.00%, 02/15/29 (Call 02/15/24)(a)(b) |
7,673 | 6,138,400 | ||||||
13.00%, 05/15/25 (Call 09/16/22)(a)(b) |
8,184 | 8,584,861 | ||||||
VOC
Escrow Ltd., 5.00%, 02/15/28 |
8,059 | 6,809,855 | ||||||
|
|
|||||||
93,177,296 | ||||||||
Lodging — 3.1% | ||||||||
Boyd Gaming Corp. |
||||||||
4.75%, 12/01/27 (Call 12/01/22)(b) |
12,573 | 11,709,109 | ||||||
4.75%, 06/15/31 (Call 06/15/26)(a)(b) |
12,017 | 10,441,772 | ||||||
Hilton Domestic Operating Co. Inc. |
||||||||
3.63%, 02/15/32 (Call 08/15/26)(a) |
19,512 | 15,759,842 | ||||||
3.75%, 05/01/29 (Call 05/01/24)(a)(b) |
11,446 | 9,843,560 | ||||||
4.00%, 05/01/31 (Call 05/01/26)(a)(b) |
14,910 | 12,535,832 | ||||||
4.88%, 01/15/30 (Call 01/15/25)(b) |
13,957 | 12,772,190 | ||||||
5.38%, 05/01/25 (Call 09/12/22)(a)(b) |
4,903 | 4,838,986 | ||||||
5.75%, 05/01/28 (Call 05/01/23)(a)(b) |
6,725 | 6,566,809 | ||||||
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc |
||||||||
4.88%, 07/01/31 (Call 07/01/26)(a) |
7,036 | 5,808,218 | ||||||
5.00%, 06/01/29 (Call 06/01/24)(a)(b) |
10,696 | 9,465,960 | ||||||
Hilton
Worldwide Finance LLC/Hilton Worldwide Finance Corp.,
4.88%, 04/01/27 |
9,476 | 9,049,580 | ||||||
Las Vegas Sands Corp. |
||||||||
2.90%, 06/25/25 (Call 05/25/25)(b) |
4,745 | 4,368,366 | ||||||
3.20%, 08/08/24 (Call 07/08/24) |
22,254 | 21,002,213 | ||||||
3.50%, 08/18/26 (Call 06/18/26) |
11,546 | 10,387,936 | ||||||
3.90%, 08/08/29 (Call 05/08/29)(b) |
10,305 | 8,730,396 | ||||||
Marriott Ownership Resorts Inc., 4.50%, 06/15/29 |
||||||||
(Call 06/15/24)(a) |
5,688 | 4,776,214 | ||||||
Melco Resorts Finance Ltd. |
||||||||
4.88%, 06/06/25 (Call 10/03/22)(a)(b) |
13,010 | 9,914,571 | ||||||
5.25%, 04/26/26 (Call 10/03/22)(a)(b) |
6,139 | 4,513,393 | ||||||
5.38%, 12/04/29 (Call 12/04/24)(a)(b) |
16,149 | 10,438,893 | ||||||
5.63%, 07/17/27 (Call 10/03/22)(a) |
8,000 | 5,671,422 | ||||||
5.75%, 07/21/28 (Call 07/21/23)(a) |
10,979 | 7,366,704 | ||||||
MGM China Holdings Ltd. |
||||||||
4.75%, 02/01/27 (Call 02/01/24)(a) |
11,562 | 9,074,233 | ||||||
5.25%, 06/18/25 (Call 09/12/22)(a)(b) |
6,048 | 5,097,406 | ||||||
5.38%, 05/15/24 (Call 09/12/22)(a)(b) |
8,878 | 7,864,192 | ||||||
5.88%, 05/15/26 (Call 09/12/22)(a)(b) |
10,281 | 8,589,647 | ||||||
MGM Resorts International |
||||||||
4.63%, 09/01/26 (Call 06/01/26) |
6,327 | 5,742,259 | ||||||
4.75%, 10/15/28 (Call 07/15/28)(b) |
9,394 | 8,221,981 | ||||||
5.50%, 04/15/27 (Call 01/15/27) |
8,417 | 7,765,524 | ||||||
5.75%, 06/15/25 (Call 03/15/25)(b) |
7,254 | 7,057,344 | ||||||
6.75%, 05/01/25 (Call 10/03/22)(b) |
11,397 | 11,387,105 |
14 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Lodging (continued) | ||||||||
Station Casinos LLC |
||||||||
4.50%, 02/15/28 (Call 02/15/23)(a)(b) |
$ | 7,454 | $ | 6,390,594 | ||||
4.63%, 12/01/31 (Call 06/01/31)(a)(b) |
7,456 | 6,169,840 | ||||||
Studio City Finance Ltd. |
||||||||
5.00%, 01/15/29 (Call 01/15/24)(a)(b) |
15,314 | 8,130,968 | ||||||
6.00%, 07/15/25 (Call 10/03/22)(a)(b) |
6,465 | 4,171,331 | ||||||
6.50%, 01/15/28 (Call 07/15/23)(a)(b) |
6,856 | 3,823,831 | ||||||
Travel + Leisure Co. |
||||||||
4.50%, 12/01/29 (Call 09/01/29)(a)(b) |
8,066 | 6,557,658 | ||||||
6.00%, 04/01/27 (Call 01/01/27) |
6,536 | 6,280,952 | ||||||
6.63%, 07/31/26 (Call 04/30/26)(a) |
7,525 | 7,307,979 | ||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. |
||||||||
5.25%, 05/15/27 (Call 02/15/27)(a)(b) |
10,999 | 9,929,347 | ||||||
5.50%, 03/01/25 (Call 12/01/24)(a)(b) |
25,216 | 24,144,320 | ||||||
Wynn Macau Ltd. |
||||||||
4.88%, 10/01/24 (Call 09/12/22)(a)(b) |
8,203 | 6,581,204 | ||||||
5.13%, 12/15/29 (Call 12/15/24)(a)(b) |
14,065 | 9,780,801 | ||||||
5.50%, 01/15/26 (Call 10/03/22)(a)(b) |
13,006 | 9,913,731 | ||||||
5.50%, 10/01/27 (Call 10/03/22)(a)(b) |
9,828 | 7,051,590 | ||||||
5.63%, 08/26/28 (Call 08/26/23)(a)(b) |
18,760 | 13,132,000 | ||||||
|
|
|||||||
396,127,803 | ||||||||
Machinery — 0.2% | ||||||||
Titan Acquisition Ltd./Titan Co-Borrower LLC, 7.75%, 04/15/26 (Call 10/03/22)(a)(b) |
8,610 | 7,835,100 | ||||||
TK Elevator Holdco GmbH, 7.63%, 07/15/28 |
||||||||
(Call 07/15/23)(a)(b) |
5,217 | 4,669,215 | ||||||
TK Elevator U.S. Newco Inc., 5.25%, 07/15/27 |
||||||||
(Call 07/15/23)(a)(b) |
21,225 | 19,112,264 | ||||||
|
|
|||||||
31,616,579 | ||||||||
Manufacturing — 0.2% | ||||||||
FXI Holdings Inc. |
||||||||
7.88%, 11/01/24 (Call 10/03/22)(a)(b) |
7,646 | 6,346,180 | ||||||
12.25%, 11/15/26 (Call 11/15/22)(a)(b) |
10,606 | 8,869,268 | ||||||
Hillenbrand
Inc., 5.75%, 06/15/25 |
4,445 | 4,450,556 | ||||||
|
|
|||||||
19,666,004 | ||||||||
Media — 10.0% | ||||||||
Altice Financing SA |
||||||||
5.00%, 01/15/28 (Call 01/15/23)(a)(b) |
15,438 | 12,466,407 | ||||||
5.75%, 08/15/29 (Call 08/15/24)(a) |
27,387 | 21,834,286 | ||||||
AMC Networks Inc. |
||||||||
4.25%, 02/15/29 (Call 02/15/24)(b) |
12,256 | 9,997,526 | ||||||
4.75%, 08/01/25 (Call 10/03/22)(b) |
12,473 | 11,571,203 | ||||||
5.00%, 04/01/24 (Call 10/03/22) |
3,983 | 3,882,501 | ||||||
Audacy Capital Corp. |
||||||||
6.50%, 05/01/27 (Call 09/16/22)(a)(b) |
6,831 | 2,279,846 | ||||||
6.75%, 03/31/29 (Call 03/31/24)(a)(b) |
7,423 | 2,416,187 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp. |
||||||||
4.25%, 02/01/31 (Call 07/01/25)(a)(b) |
41,655 | 33,950,729 | ||||||
4.25%, 01/15/34 (Call 01/15/28)(a)(b) |
26,738 | 20,390,666 | ||||||
4.50%, 08/15/30 (Call 02/15/25)(a)(b) |
36,973 | 31,138,661 | ||||||
4.50%, 05/01/32 (Call 05/01/26)(b) |
39,578 | 32,116,755 | ||||||
4.50%, 06/01/33 (Call 06/01/27)(a)(b) |
23,092 | 18,132,993 | ||||||
4.75%, 03/01/30 (Call 09/01/24)(a)(b) |
41,557 | 35,728,631 | ||||||
4.75%, 02/01/32 (Call 02/01/27)(a)(b) |
16,058 | 13,283,178 | ||||||
5.00%, 02/01/28 (Call 09/16/22)(a)(b) |
34,845 | 31,883,175 | ||||||
5.13%, 05/01/27 (Call 10/03/22)(a)(b) |
45,758 | 43,492,979 | ||||||
5.38%, 06/01/29 (Call 06/01/24)(a)(b) |
19,700 | 18,019,590 | ||||||
5.50%, 05/01/26 (Call 10/03/22)(a)(b) |
9,631 | 9,491,902 | ||||||
6.38%, 09/01/29 |
7,900 | 7,672,875 |
Security |
Par (000) |
Value | ||||||
Media (continued) | ||||||||
CSC Holdings LLC |
||||||||
3.38%, 02/15/31 (Call 02/15/26)(a)(b) |
$ | 13,773 | $ | 10,319,420 | ||||
4.13%, 12/01/30 (Call 12/01/25)(a)(b) |
15,228 | 12,334,680 | ||||||
4.50%, 11/15/31 (Call 11/15/26)(a)(b) |
19,464 | 15,717,180 | ||||||
4.63%, 12/01/30 (Call 12/01/25)(a)(b) |
30,765 | 21,996,975 | ||||||
5.00%, 11/15/31 (Call 11/15/26)(a)(b) |
7,295 | 5,220,093 | ||||||
5.25%, 06/01/24(b) |
8,582 | 8,281,959 | ||||||
5.38%, 02/01/28 (Call 02/01/23)(a)(b) |
13,644 | 12,343,727 | ||||||
5.50%, 04/15/27 (Call 10/03/22)(a)(b) |
18,670 | 17,689,825 | ||||||
5.75%, 01/15/30 (Call 01/15/25)(a)(b) |
29,777 | 23,054,842 | ||||||
6.50%, 02/01/29 (Call 02/01/24)(a)(b) |
23,296 | 21,463,770 | ||||||
7.50%, 04/01/28 (Call 04/01/23)(a)(b) |
13,942 | 12,344,480 | ||||||
Diamond Sports Group LLC/Diamond Sports Finance Co. |
||||||||
5.38%, 08/15/26 (Call 09/16/22)(a)(b) |
35,705 | 6,744,317 | ||||||
6.63%, 08/15/27 (Call 09/16/22)(a) |
15,954 | 1,455,803 | ||||||
Directv Financing LLC/Directv Financing Co-Obligor Inc., 5.88%, 08/15/27 (Call 08/15/23)(a) |
49,680 | 45,457,200 | ||||||
DISH DBS Corp. |
||||||||
5.25%, 12/01/26 (Call 06/01/26)(a)(b) |
37,361 | 30,939,578 | ||||||
5.75%, 12/01/28 (Call 12/01/27)(a) |
33,267 | 25,566,245 | ||||||
5.88%, 11/15/24(b) |
27,225 | 24,706,687 | ||||||
7.38%, 07/01/28 (Call 07/01/23)(b) |
13,280 | 8,698,400 | ||||||
7.75%, 07/01/26(b) |
26,652 | 20,996,312 | ||||||
5.13%, 06/01/29(b) |
20,314 | 12,036,045 | ||||||
Gray Escrow II Inc., 5.38%, 11/15/31 |
||||||||
(Call 11/15/26)(a)(b) |
17,059 | 14,443,855 | ||||||
Gray Television Inc. |
||||||||
4.75%, 10/15/30 (Call 10/15/25)(a)(b) |
9,453 | 7,698,334 | ||||||
5.88%, 07/15/26 (Call 10/03/22)(a)(b) |
8,942 | 8,587,425 | ||||||
7.00%, 05/15/27 (Call 09/12/22)(a)(b) |
11,626 | 11,467,421 | ||||||
iHeartCommunications Inc. |
||||||||
4.75%, 01/15/28 (Call 01/15/23)(a)(b) |
7,112 | 6,098,896 | ||||||
5.25%, 08/15/27 (Call 09/16/22)(a)(b) |
10,757 | 9,682,357 | ||||||
6.38%, 05/01/26 (Call 09/16/22)(b) |
10,884 | 10,298,107 | ||||||
8.38%, 05/01/27 (Call 09/16/22)(b) |
16,827 | 14,820,759 | ||||||
LCPR Senior Secured Financing DAC |
||||||||
5.13%, 07/15/29 (Call 07/15/24)(a)(b) |
10,125 | 8,667,000 | ||||||
6.75%, 10/15/27 (Call 10/15/22)(a)(b) |
15,721 | 14,790,317 | ||||||
McGraw-Hill Education Inc. |
||||||||
5.75%, 08/01/28 (Call 08/01/24)(a)(b) |
13,056 | 11,476,125 | ||||||
8.00%, 08/01/29 (Call 08/01/24)(a) |
9,160 | 7,943,094 | ||||||
News Corp. |
||||||||
3.88%, 05/15/29 (Call 05/15/24)(a)(b) |
11,688 | 10,285,440 | ||||||
5.13%, 02/15/32 (Call 02/15/27)(a)(b) |
6,778 | 6,285,977 | ||||||
Nexstar Media Inc. |
||||||||
4.75%, 11/01/28 (Call 11/01/23)(a)(b) |
12,017 | 10,875,385 | ||||||
5.63%, 07/15/27 (Call 09/12/22)(a)(b) |
23,645 | 22,542,670 | ||||||
Paramount Global |
||||||||
6.25%, 02/28/57 (Call 02/28/27)(b)(c) |
10,823 | 10,151,974 | ||||||
6.38%, 03/30/62 (Call 03/30/27)(b)(c) |
12,113 | 11,191,976 | ||||||
Radiate Holdco LLC/Radiate Finance Inc. |
||||||||
4.50%, 09/15/26 (Call 09/15/23)(a)(b) |
11,881 | 10,232,511 | ||||||
6.50%, 09/15/28 (Call 09/15/23)(a)(b) |
13,474 | 10,065,078 | ||||||
Scripps Escrow II Inc. |
||||||||
3.88%, 01/15/29 (Call 01/15/24)(a)(b) |
7,169 | 6,075,727 | ||||||
5.38%, 01/15/31 (Call 01/15/26)(a)(b) |
5,309 | 4,393,198 | ||||||
Scripps Escrow Inc., 5.88%, 07/15/27 |
||||||||
(Call 10/03/22)(a)(b) |
5,145 | 4,656,225 |
S C H E D U L E O F I N V E S T M E N T S |
15 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Media (continued) | ||||||||
Sinclair Television Group Inc. |
||||||||
4.13%, 12/01/30 (Call 12/01/25)(a) |
$ | 10,422 | $ | 8,506,957 | ||||
5.13%, 02/15/27 (Call 09/16/22)(a)(b) |
1,573 | 1,348,848 | ||||||
5.50%, 03/01/30 (Call 12/01/24)(a)(b) |
5,922 | 4,602,590 | ||||||
Sirius XM Radio Inc. |
||||||||
3.13%, 09/01/26 (Call 09/01/23)(a)(b) |
12,799 | 11,325,835 | ||||||
3.88%, 09/01/31 (Call 09/01/26)(a)(b) |
21,764 | 17,574,430 | ||||||
4.00%, 07/15/28 (Call 07/15/24)(a)(b) |
26,149 | 22,831,346 | ||||||
4.13%, 07/01/30 (Call 07/01/25)(a)(b) |
19,288 | 16,371,191 | ||||||
5.00%, 08/01/27 (Call 10/03/22)(a)(b) |
22,105 | 20,795,279 | ||||||
5.50%, 07/01/29 (Call 07/01/24)(a)(b) |
15,191 | 14,219,080 | ||||||
TEGNA Inc. |
||||||||
4.63%, 03/15/28 (Call 03/15/23)(b) |
12,131 | 11,622,954 | ||||||
4.75%, 03/15/26 (Call 03/15/23)(a)(b) |
6,117 | 6,023,410 | ||||||
5.00%, 09/15/29 (Call 09/15/24)(b) |
16,258 | 15,596,787 | ||||||
Telenet Finance Luxembourg Notes Sarl, 5.50%, 03/01/28 (Call 12/01/22)(a) |
13,600 | 12,124,400 | ||||||
Univision Communications Inc. |
||||||||
4.50%, 05/01/29 (Call 05/01/24)(a)(b) |
13,438 | 11,711,777 | ||||||
5.13%, 02/15/25 (Call 09/12/22)(a)(b) |
19,004 | 18,380,669 | ||||||
6.63%, 06/01/27 (Call 06/01/23)(a) |
21,763 | 21,001,295 | ||||||
7.38%, 06/30/30 (Call 06/30/25)(a) |
11,590 | 11,486,699 | ||||||
UPC Broadband Finco BV, 4.88%, 07/15/31 |
||||||||
(Call 07/15/26)(a) |
15,990 | 13,831,350 | ||||||
UPC Holding BV, 5.50%, 01/15/28 (Call 10/15/22)(a)(b) |
6,174 | 5,295,378 | ||||||
Videotron Ltd. |
||||||||
3.63%, 06/15/29 (Call 06/15/24)(a)(b) |
6,751 | 5,654,098 | ||||||
5.13%, 04/15/27 (Call 10/03/22)(a) |
8,485 | 7,954,687 | ||||||
5.38%, 06/15/24 (Call 03/15/24)(a)(b) |
4,504 | 4,469,499 | ||||||
Virgin Media Finance PLC, 5.00%, 07/15/30 |
||||||||
(Call 07/15/25)(a)(b) |
12,025 | 9,366,032 | ||||||
Virgin Media Secured Finance PLC |
||||||||
4.50%, 08/15/30 (Call 08/15/25)(a)(b) |
12,134 | 10,116,116 | ||||||
5.50%, 05/15/29 (Call 05/15/24)(a)(b) |
18,368 | 16,360,194 | ||||||
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 07/15/28 (Call 07/15/23)(a) |
6,352 | 5,419,164 | ||||||
VZ Secured Financing BV, 5.00%, 01/15/32 |
||||||||
(Call 01/15/27)(a) |
19,876 | 16,198,940 | ||||||
Ziggo Bond Co. BV |
||||||||
5.13%, 02/28/30 (Call 02/15/25)(a) |
6,455 | 5,143,021 | ||||||
6.00%, 01/15/27 (Call 10/03/22)(a)(b) |
8,739 | 7,862,478 | ||||||
Ziggo
BV, 4.88%, 01/15/30 |
14,009 | 11,842,508 | ||||||
|
|
|||||||
1,274,884,491 | ||||||||
Mining — 1.0% | ||||||||
Alcoa Nederland Holding BV |
||||||||
4.13%, 03/31/29 (Call 03/31/24)(a) |
593 | 522,913 | ||||||
5.50%, 12/15/27 (Call 06/15/23)(a)(b) |
678 | 650,880 | ||||||
6.13%, 05/15/28 (Call 05/15/23)(a) |
299 | 290,592 | ||||||
Arconic Corp. |
||||||||
6.00%, 05/15/25 (Call 10/03/22)(a)(b) |
7,459 | 7,319,144 | ||||||
6.13%, 02/15/28 (Call 02/15/23)(a) |
14,538 | 13,611,203 | ||||||
Constellium SE, 3.75%, 04/15/29 (Call 04/15/24)(a)(b) |
7,188 | 5,920,181 | ||||||
FMG Resources August 2006 Pty Ltd. |
||||||||
4.38%, 04/01/31 (Call 01/01/31)(a)(b) |
19,151 | 15,645,409 | ||||||
4.50%, 09/15/27 (Call 06/15/27)(a)(b) |
6,940 | 6,313,376 | ||||||
5.13%, 05/15/24 (Call 02/15/24)(a)(b) |
8,400 | 8,303,281 | ||||||
FMG Resources August Pty. Ltd. |
||||||||
5.88%, 04/15/30 (Call 01/15/30)(a)(b) |
10,357 | 9,610,571 | ||||||
6.13%, 04/15/32 (Call 01/15/32)(a)(b) |
11,985 | 11,063,294 |
Security |
Par (000) |
Value | ||||||
Mining (continued) | ||||||||
Kaiser Aluminum Corp. |
||||||||
4.50%, 06/01/31 (Call 06/01/26)(a)(b) |
$ | 7,577 | $ | 5,919,001 | ||||
4.63%, 03/01/28 (Call 03/01/23)(a)(b) |
6,168 | 5,264,943 | ||||||
Novelis Corp. |
||||||||
3.25%, 11/15/26 (Call 11/15/23)(a)(b) |
8,760 | 7,796,400 | ||||||
3.88%, 08/15/31 (Call 08/15/26)(a)(b) |
12,005 | 9,636,790 | ||||||
4.75%, 01/30/30 (Call 01/30/25)(a)(b) |
20,567 | 17,944,090 | ||||||
|
|
|||||||
125,812,068 | ||||||||
Office & Business Equipment — 0.2% | ||||||||
Pitney Bowes Inc., 6.88%, 03/15/27 |
||||||||
(Call 03/15/24)(a)(b) |
5,304 | 3,928,408 | ||||||
Xerox Holdings Corp. |
||||||||
5.00%, 08/15/25 (Call 07/15/25)(a)(b) |
11,459 | 10,609,639 | ||||||
5.50%, 08/15/28 (Call 07/15/28)(a)(b) |
9,573 | 8,291,415 | ||||||
|
|
|||||||
22,829,462 | ||||||||
Oil & Gas — 6.1% | ||||||||
Antero Resources Corp. |
||||||||
5.38%, 03/01/30 (Call 03/01/25)(a)(b) |
6,828 | 6,435,731 | ||||||
7.63%, 02/01/29 (Call 02/01/24)(a)(b) |
8,131 | 8,375,976 | ||||||
Apache Corp., 4.25%, 01/15/30 (Call 10/15/29)(b) |
8,515 | 7,695,431 | ||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp. |
||||||||
5.88%, 06/30/29 (Call 09/01/24)(a)(b) |
6,198 | 5,568,239 | ||||||
7.00%, 11/01/26 (Call 10/03/22)(a)(b) |
5,912 | 5,802,392 | ||||||
Callon Petroleum Co. |
||||||||
7.50%, 06/15/30 (Call 06/15/25)(a)(b) |
8,431 | 7,809,214 | ||||||
8.00%, 08/01/28 (Call 08/01/24)(a)(b) |
8,062 | 7,719,365 | ||||||
Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 |
||||||||
(Call 10/03/22)(a)(b) |
6,168 | 6,460,980 | ||||||
Chesapeake Energy Corp. |
||||||||
5.50%, 02/01/26 (Call 02/05/23)(a) |
5,987 | 5,762,727 | ||||||
5.88%, 02/01/29 (Call 02/05/24)(a)(b) |
8,599 | 8,212,045 | ||||||
6.75%, 04/15/29 (Call 04/15/24)(a) |
12,470 | 12,251,775 | ||||||
Citgo Holding Inc., 9.25%, 08/01/24 (Call 10/03/22)(a)(b) |
19,830 | 19,755,637 | ||||||
CITGO Petroleum Corp. |
||||||||
6.38%, 06/15/26 (Call 06/15/23)(a)(b) |
9,303 | 8,883,202 | ||||||
7.00%, 06/15/25 (Call 10/03/22)(a) |
16,039 | 15,597,928 | ||||||
CNX Resources Corp. |
||||||||
6.00%, 01/15/29 (Call 01/15/24)(a)(b) |
5,383 | 5,057,550 | ||||||
7.25%, 03/14/27 (Call 10/03/22)(a)(b) |
10,914 | 10,845,788 | ||||||
Colgate Energy Partners III LLC, 5.88%, 07/01/29 |
||||||||
(Call 07/01/24)(a) |
9,989 | 9,232,358 | ||||||
Comstock Resources Inc. |
||||||||
5.88%, 01/15/30 (Call 01/15/25)(a)(b) |
12,608 | 11,507,952 | ||||||
6.75%, 03/01/29 (Call 03/01/24)(a)(b) |
16,187 | 15,478,819 | ||||||
CrownRock LP/CrownRock Finance Inc. |
||||||||
5.00%, 05/01/29 (Call 05/01/24)(a)(b) |
6,193 | 5,730,383 | ||||||
5.63%, 10/15/25 (Call 10/03/22)(a)(b) |
14,293 | 14,074,317 | ||||||
CVR Energy Inc. |
||||||||
5.25%, 02/15/25 (Call 09/16/22)(a)(b) |
9,524 | 8,995,894 | ||||||
5.75%, 02/15/28 (Call 02/15/23)(a)(b) |
5,420 | 4,969,977 | ||||||
Endeavor Energy Resources LP/EER Finance Inc., |
||||||||
5.75%, 01/30/28 (Call 01/30/23)(a)(b) |
12,977 | 12,814,788 | ||||||
Energean Israel Finance Ltd. |
||||||||
4.50%, 03/30/24 (Call 12/30/23)(a)(e) |
7,781 | 7,469,760 | ||||||
4.88%, 03/30/26 (Call 12/30/25)(a)(e) |
9,488 | 8,752,680 | ||||||
5.38%, 03/30/28 (Call 09/30/27)(a)(e) |
9,060 | 8,175,744 | ||||||
5.88%, 03/30/31 (Call 09/30/30)(a)(e) |
7,631 | 6,600,815 |
16 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
EQT Corp. |
||||||||
3.13%, 05/15/26 (Call 05/15/23)(a)(b) |
$ | 69 | $ | 64,590 | ||||
3.90%, 10/01/27 (Call 07/01/27)(b) |
683 | 647,484 | ||||||
6.13%, 02/01/25 (Call 01/01/25) |
537 | 552,478 | ||||||
7.00%, 02/01/30 (Call 11/01/29)(b) |
569 | 608,099 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co. |
||||||||
5.75%, 02/01/29 (Call 02/01/24)(a)(b) |
7,669 | 7,000,838 | ||||||
6.00%, 04/15/30 (Call 04/15/25)(a)(b) |
6,926 | 6,360,077 | ||||||
6.00%, 02/01/31 (Call 02/01/26)(a)(b) |
8,474 | 7,679,260 | ||||||
6.25%, 11/01/28 (Call 11/01/23)(a)(b) |
7,757 | 7,319,086 | ||||||
6.25%, 04/15/32 (Call 05/15/27)(a) |
6,966 | 6,237,879 | ||||||
Laredo Petroleum Inc. |
||||||||
7.75%, 07/31/29 (Call 07/31/24)(a)(b) |
5,813 | 5,548,639 | ||||||
9.50%, 01/15/25 (Call 10/03/22)(b) |
5,760 | 5,782,176 | ||||||
Leviathan Bond Ltd. |
||||||||
6.13%, 06/30/25 (Call 03/30/25)(a)(e) |
6,715 | 6,601,248 | ||||||
6.50%, 06/30/27 (Call 12/30/26)(a)(e) |
8,981 | 8,748,617 | ||||||
6.75%, 06/30/30 (Call 12/30/29)(a)(e) |
7,656 | 7,271,847 | ||||||
Matador Resources Co., 5.88%, 09/15/26 |
||||||||
(Call 09/16/22)(b) |
12,117 | 11,874,418 | ||||||
MEG Energy Corp. |
||||||||
5.88%, 02/01/29 (Call 02/01/24)(a)(b) |
9,948 | 9,198,916 | ||||||
7.13%, 02/01/27 (Call 02/01/23)(a)(b) |
14,770 | 14,925,085 | ||||||
Moss Creek Resources Holdings Inc. |
||||||||
7.50%, 01/15/26 (Call 10/03/22)(a)(b) |
9,040 | 8,181,200 | ||||||
10.50%, 05/15/27 (Call 10/03/22)(a)(b) |
7,034 | 6,801,016 | ||||||
Murphy Oil Corp. |
||||||||
5.75%, 08/15/25 (Call 10/03/22)(b) |
6,785 | 6,732,077 | ||||||
5.88%, 12/01/27 (Call 12/01/22)(b) |
7,815 | 7,597,040 | ||||||
6.38%, 07/15/28 (Call 07/15/24) |
7,533 | 7,429,421 | ||||||
Nabors Industries Inc. |
||||||||
5.75%, 02/01/25 (Call 11/01/24)(b) |
6,692 | 6,168,886 | ||||||
7.38%, 05/15/27 (Call 05/15/24)(a)(b) |
9,476 | 9,144,340 | ||||||
Nabors Industries Ltd., 7.25%, 01/15/26 |
||||||||
(Call 10/03/22)(a) |
8,467 | 7,628,767 | ||||||
Occidental Petroleum Corp. |
||||||||
2.90%, 08/15/24 (Call 07/15/24)(b) |
6,336 | 6,171,264 | ||||||
5.50%, 12/01/25 (Call 09/01/25)(b) |
8,389 | 8,614,454 | ||||||
5.55%, 03/15/26 (Call 12/15/25)(b) |
15,183 | 15,570,167 | ||||||
5.88%, 09/01/25 (Call 06/01/25)(b) |
9,933 | 10,188,775 | ||||||
6.13%, 01/01/31 (Call 07/01/30)(b) |
17,458 | 18,181,721 | ||||||
6.38%, 09/01/28 (Call 03/01/28)(b) |
7,776 | 8,126,309 | ||||||
6.63%, 09/01/30 (Call 03/01/30)(b) |
20,436 | 21,815,371 | ||||||
6.95%, 07/01/24 |
3,853 | 4,026,385 | ||||||
7.50%, 05/01/31(b) |
11,517 | 12,947,987 | ||||||
7.88%, 09/15/31 |
7,269 | 8,363,639 | ||||||
8.00%, 07/15/25 (Call 04/15/25) |
6,157 | 6,688,041 | ||||||
8.50%, 07/15/27 (Call 01/15/27)(b) |
7,469 | 8,374,616 | ||||||
8.88%, 07/15/30 (Call 01/15/30) |
11,925 | 13,934,243 | ||||||
Parkland Corp. |
||||||||
4.50%, 10/01/29 (Call 10/01/24)(a) |
9,875 | 8,371,529 | ||||||
4.63%, 05/01/30 (Call 05/01/25)(a)(b) |
12,165 | 10,419,213 | ||||||
5.88%, 07/15/27 (Call 10/03/22)(a)(b) |
7,413 | 7,138,941 | ||||||
PBF Holding Co. LLC/PBF Finance Corp. |
||||||||
6.00%, 02/15/28 (Call 02/15/23) |
10,163 | 9,134,047 | ||||||
7.25%, 06/15/25 (Call 10/03/22) |
10,199 | 9,867,533 | ||||||
Puma International Financing SA |
||||||||
5.00%, 01/24/26 (Call 09/12/22)(a) |
11,900 | 10,504,651 | ||||||
5.13%, 10/06/24 (Call 09/12/22)(a) |
7,161 | 6,573,798 |
Security |
Par (000) |
Value | ||||||
Oil & Gas (continued) | ||||||||
Range Resources Corp. |
||||||||
4.75%, 02/15/30 (Call 02/15/25)(a)(b) |
$ | 7,095 | $ | 6,565,004 | ||||
4.88%, 05/15/25 (Call 02/15/25)(b) |
8,993 | 8,672,142 | ||||||
8.25%, 01/15/29 (Call 01/15/24)(b) |
9,485 | 9,951,472 | ||||||
SM Energy Co. |
||||||||
6.50%, 07/15/28 (Call 07/15/24) |
5,741 | 5,522,603 | ||||||
6.63%, 01/15/27 (Call 10/03/22)(b) |
5,931 | 5,745,858 | ||||||
6.75%, 09/15/26 (Call 10/03/22) |
6,063 | 5,947,781 | ||||||
Southwestern Energy Co. |
||||||||
4.75%, 02/01/32 (Call 02/01/27)(b) |
15,545 | 13,836,799 | ||||||
5.38%, 02/01/29 (Call 02/01/24)(b) |
9,968 | 9,353,722 | ||||||
5.38%, 03/15/30 (Call 03/15/25)(b) |
16,236 | 15,136,011 | ||||||
5.70%, 01/23/25 (Call 10/23/24)(b) |
789 | 785,055 | ||||||
7.75%, 10/01/27 (Call 10/03/22)(b) |
1,453 | 1,505,671 | ||||||
Sunoco LP/Sunoco Finance Corp. |
||||||||
4.50%, 05/15/29 (Call 05/15/24) |
9,350 | 8,065,497 | ||||||
4.50%, 04/30/30 (Call 04/30/25)(b) |
11,899 | 10,123,570 | ||||||
5.88%, 03/15/28 (Call 03/15/23)(b) |
6,096 | 5,693,359 | ||||||
6.00%, 04/15/27 (Call 10/03/22)(b) |
8,142 | 7,901,296 | ||||||
Transocean Guardian Ltd., 5.88%, 01/15/24 |
||||||||
(Call 10/03/22)(a)(b) |
3,631 | 3,437,543 | ||||||
Transocean Inc. |
||||||||
7.25%, 11/01/25 (Call 09/12/22)(a) |
6,202 | 4,899,580 | ||||||
7.50%, 01/15/26 (Call 09/12/22)(a) |
7,961 | 6,139,523 | ||||||
8.00%, 02/01/27 (Call 02/01/23)(a)(b) |
8,280 | 6,147,900 | ||||||
11.50%, 01/30/27 (Call 07/30/23)(a) |
9,204 | 8,883,977 | ||||||
Transocean Pontus Ltd., 6.13%, 08/01/25 |
||||||||
(Call 10/03/22)(a) |
345 | 330,299 | ||||||
Transocean Poseidon Ltd., 6.88%, 02/01/27 |
||||||||
(Call 10/03/22)(a)(b) |
5,939 | 5,616,987 | ||||||
|
|
|||||||
777,415,284 | ||||||||
Oil & Gas Services — 0.5% | ||||||||
Archrock Partners LP/Archrock Partners Finance Corp. |
||||||||
6.25%, 04/01/28 (Call 04/01/23)(a)(b) |
12,638 | 11,508,163 | ||||||
6.88%, 04/01/27 (Call 10/03/22)(a)(b) |
4,758 | 4,466,605 | ||||||
USA Compression Partners LP/USA Compression Finance Corp. |
||||||||
6.88%, 04/01/26 (Call 10/03/22) |
9,038 | 8,438,853 | ||||||
6.88%, 09/01/27 (Call 10/03/22) |
11,374 | 10,512,874 | ||||||
Weatherford International Ltd. |
||||||||
6.50%, 09/15/28 (Call 09/15/24)(a)(b) |
6,495 | 6,108,028 | ||||||
8.63%, 04/30/30 (Call 10/30/24)(a)(b) |
20,970 | 18,930,122 | ||||||
11.00%, 12/01/24 (Call 10/03/22)(a)(b) |
526 | 530,274 | ||||||
|
|
|||||||
60,494,919 | ||||||||
Packaging & Containers — 2.6% | ||||||||
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC, 6.00%, 06/15/27 |
||||||||
(Call 06/15/24)(a)(b) |
9,158 | 8,967,514 | ||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC |
||||||||
3.25%, 09/01/28 (Call 05/15/24)(a) |
7,485 | 6,455,812 | ||||||
4.00%, 09/01/29 (Call 05/15/24)(a)(b) |
14,747 | 11,907,956 | ||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc. |
||||||||
4.13%, 08/15/26 (Call 09/12/22)(a)(b) |
18,132 | 15,702,312 | ||||||
5.25%, 04/30/25 (Call 10/03/22)(a) |
9,265 | 8,709,969 | ||||||
5.25%, 08/15/27 (Call 10/03/22)(a) |
10,417 | 7,561,089 | ||||||
5.25%, 08/15/27 (Call 10/03/22)(a)(b) |
12,681 | 9,204,394 |
S C H E D U L E O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Packaging & Containers (continued) | ||||||||
Ball Corp. |
||||||||
2.88%, 08/15/30 (Call 05/15/30)(b) |
$ | 17,752 | $ | 14,428,826 | ||||
3.13%, 09/15/31 (Call 06/15/31)(b) |
12,685 | 10,266,837 | ||||||
4.00%, 11/15/23(b) |
7,264 | 7,182,963 | ||||||
4.88%, 03/15/26 (Call 12/15/25)(b) |
8,651 | 8,333,076 | ||||||
5.25%, 07/01/25(b) |
15,976 | 15,936,060 | ||||||
Berry Global Inc. |
||||||||
4.50%, 02/15/26 (Call 10/03/22)(a)(b) |
641 | 615,360 | ||||||
5.63%, 07/15/27 (Call 10/03/22)(a)(b) |
4,923 | 4,807,309 | ||||||
Clydesdale Acquisition Holdings Inc. |
||||||||
6.63%, 04/15/29 (Call 04/15/25)(a)(b) |
6,730 | 6,469,025 | ||||||
8.75%, 04/15/30 (Call 04/15/25)(a)(b) |
15,349 | 13,372,816 | ||||||
Crown Americas LLC, 5.25%, 04/01/30 |
||||||||
(Call 01/01/30)(a)(b) |
7,500 | 7,215,417 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. V, |
||||||||
4.25%, 09/30/26 (Call 03/31/26) |
5,160 | 4,829,241 | ||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, |
||||||||
4.75%, 02/01/26 (Call 10/03/22)(b) |
12,217 | 11,781,769 | ||||||
Graphic Packaging International LLC |
||||||||
3.50%, 03/15/28(a) |
6,391 | 5,674,609 | ||||||
3.75%, 02/01/30 (Call 08/01/29)(a)(b) |
5,224 | 4,482,083 | ||||||
LABL Inc. |
||||||||
5.88%, 11/01/28 (Call 11/01/24)(a)(b) |
7,303 | 6,351,328 | ||||||
6.75%, 07/15/26 (Call 09/12/22)(a) |
9,481 | 8,970,705 | ||||||
8.25%, 11/01/29 (Call 11/01/24)(a)(b) |
6,863 | 5,524,715 | ||||||
10.50%, 07/15/27 (Call 09/12/22)(a)(b) |
7,921 | 7,418,016 | ||||||
Mauser Packaging Solutions Holding Co. |
||||||||
5.50%, 04/15/24 (Call 10/03/22)(a)(b) |
19,192 | 18,584,333 | ||||||
7.25%, 04/15/25 (Call 10/03/22)(a)(b) |
19,163 | 17,402,164 | ||||||
OI European Group BV, 4.75%, 02/15/30 |
||||||||
(Call 11/15/24)(a)(b) |
5,607 | 4,539,988 | ||||||
Owens-Brockway Glass Container Inc. |
||||||||
5.88%, 08/15/23(a)(b) |
873 | 868,810 | ||||||
6.63%, 05/13/27 (Call 05/15/23)(a)(b) |
7,488 | 6,959,347 | ||||||
Pactiv Evergreen Group Issuer Inc./Pactiv Evergreen Group Issuer LLC/Reynolds Gro, 4.00%, 10/15/27 |
||||||||
(Call 10/15/23)(a)(b) |
12,767 | 11,163,592 | ||||||
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer Inc., 4.38%, 10/15/28 |
||||||||
(Call 10/15/24)(a)(b) |
7,622 | 6,688,305 | ||||||
Sealed Air Corp. |
||||||||
4.00%, 12/01/27 (Call 09/01/27)(a)(b) |
4,784 | 4,319,952 | ||||||
5.00%, 04/15/29 (Call 04/15/25)(a)(b) |
8,881 | 8,439,437 | ||||||
5.13%, 12/01/24 (Call 09/01/24)(a)(b) |
4,073 | 4,028,553 | ||||||
5.50%, 09/15/25 (Call 06/15/25)(a)(b) |
5,433 | 5,428,756 | ||||||
Silgan Holdings Inc., 4.13%, 02/01/28 |
||||||||
(Call 10/01/22)(b) |
7,899 | 7,206,882 | ||||||
Trivium Packaging Finance BV |
||||||||
5.50%, 08/15/26 (Call 10/03/22)(a)(b) |
13,037 | 12,515,520 | ||||||
8.50%, 08/15/27 (Call 09/12/22)(a)(b) |
10,584 | 10,021,778 | ||||||
|
|
|||||||
330,336,618 | ||||||||
Pharmaceuticals — 3.3% | ||||||||
AdaptHealth LLC |
||||||||
4.63%, 08/01/29 (Call 02/01/24)(a)(b) |
6,228 | 5,186,180 | ||||||
5.13%, 03/01/30 (Call 03/01/25)(a) |
7,491 | 6,426,484 | ||||||
Bausch Health Americas Inc. |
||||||||
8.50%, 01/31/27 (Call 10/03/22)(a)(b) |
22,260 | 10,612,455 | ||||||
9.25%, 04/01/26 (Call 10/03/22)(a)(b) |
19,491 | 11,694,600 | ||||||
Bausch Health Companies Inc. |
||||||||
4.88%, 06/01/28 (Call 06/01/24)(a) |
22,989 | 15,661,486 |
Security |
Par (000) |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
5.00%, 01/30/28 (Call 01/30/23)(a) |
$ | 15,986 | $ | 5,762,953 | ||||
5.00%, 02/15/29 (Call 02/15/24)(a)(b) |
12,537 | 4,631,168 | ||||||
5.25%, 01/30/30 (Call 01/30/25)(a) |
15,812 | 5,850,440 | ||||||
5.25%, 02/15/31 (Call 02/15/26)(a)(b) |
12,861 | 4,965,954 | ||||||
5.50%, 11/01/25 (Call 10/03/22)(a)(b) |
24,145 | 19,919,625 | ||||||
5.75%, 08/15/27 (Call 09/16/22)(a)(b) |
6,875 | 5,001,563 | ||||||
6.13%, 02/01/27 (Call 02/01/24)(a) |
13,714 | 10,216,930 | ||||||
6.25%, 02/15/29 (Call 02/15/24)(a)(b) |
20,168 | 7,613,420 | ||||||
7.00%, 01/15/28 (Call 01/15/23)(a)(b) |
9,152 | 3,432,000 | ||||||
7.25%, 05/30/29 (Call 05/30/24)(a)(b) |
10,265 | 3,957,158 | ||||||
9.00%, 12/15/25 (Call 10/03/22)(a)(b) |
19,958 | 12,610,961 | ||||||
Elanco Animal Health Inc., 6.40%, 08/28/28 |
||||||||
(Call 05/28/28)(b) |
2,704 | 2,514,720 | ||||||
Endo Luxembourg Finance Co. I Sarl/Endo U.S. Inc., |
||||||||
6.13%, 04/01/29 (Call 04/01/24)(a)(b) |
15,829 | 13,446,735 | ||||||
Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 10/03/22)(a)(b) |
8,268 | 7,940,381 | ||||||
HLF Financing Sarl LLC/Herbalife International Inc., |
||||||||
4.88%, 06/01/29 (Call 06/01/24)(a)(b) |
7,591 | 5,928,571 | ||||||
Jazz Securities DAC, 4.38%, 01/15/29 |
||||||||
(Call 07/15/24)(a)(b) |
18,902 | 16,936,192 | ||||||
Mallinckrodt International Finance SA/Mallinckrodt CB LLC |
||||||||
10.00%, 04/15/25 (Call 09/16/22)(a)(b) |
6,890 | 6,235,450 | ||||||
11.50%, 12/15/28 (Call 06/15/27)(a)(b) |
8,613 | 7,719,401 | ||||||
Organon & Co./Organon Foreign Debt Co-Issuer BV |
||||||||
4.13%, 04/30/28 (Call 04/30/24)(a) |
27,702 | 24,853,403 | ||||||
5.13%, 04/30/31 (Call 04/30/26)(a)(b) |
26,336 | 23,044,000 | ||||||
Owens & Minor Inc. |
||||||||
4.50%, 03/31/29 (Call 03/31/24)(a)(b) |
6,798 | 5,765,837 | ||||||
6.63%, 04/01/30 (Call 04/01/25)(a)(b) |
6,905 | 6,369,966 | ||||||
Par Pharmaceutical Inc., 7.50%, 04/01/27 |
||||||||
(Call 10/03/22)(a) |
28,847 | 24,519,950 | ||||||
Perrigo Finance Unlimited Co. |
||||||||
3.90%, 12/15/24 (Call 09/15/24) |
9,204 | 8,677,562 | ||||||
4.38%, 03/15/26 (Call 12/15/25)(b) |
9,238 | 8,764,552 | ||||||
4.40%, 06/15/30 (Call 03/15/30)(b) |
10,179 | 8,843,006 | ||||||
Prestige Brands Inc. |
||||||||
3.75%, 04/01/31 (Call 04/01/26)(a) |
9,587 | 7,688,870 | ||||||
5.13%, 01/15/28 (Call 01/15/23)(a)(b) |
4,484 | 4,114,070 | ||||||
Teva Pharmaceutical Finance Netherlands III BV |
||||||||
2.80%, 07/21/23(b) |
406 | 389,760 | ||||||
3.15%, 10/01/26(b) |
49,362 | 41,612,166 | ||||||
4.75%, 05/09/27 (Call 02/09/27)(b) |
13,064 | 11,439,289 | ||||||
5.13%, 05/09/29 (Call 02/09/29)(b) |
12,294 | 10,738,809 | ||||||
6.00%, 04/15/24 (Call 01/15/24)(b) |
15,886 | 15,431,343 | ||||||
6.75%, 03/01/28 (Call 12/01/27)(b) |
17,091 | 16,347,029 | ||||||
7.13%, 01/31/25 (Call 10/31/24) |
11,302 | 11,170,614 | ||||||
|
|
|||||||
424,035,053 | ||||||||
Pipelines — 4.8% | ||||||||
Antero Midstream Partners LP/Antero Midstream Finance Corp. |
||||||||
5.38%, 06/15/29 (Call 06/15/24)(a)(b) |
10,313 | 9,377,405 | ||||||
5.75%, 03/01/27 (Call 09/16/22)(a) |
7,382 | 7,023,327 | ||||||
5.75%, 01/15/28 (Call 01/15/23)(a)(b) |
8,792 | 8,350,378 | ||||||
7.88%, 05/15/26 (Call 05/15/23)(a) |
6,185 | 6,297,869 | ||||||
Buckeye Partners LP |
||||||||
3.95%, 12/01/26 (Call 09/01/26)(b) |
7,974 | 7,092,056 | ||||||
4.13%, 03/01/25 (Call 02/01/25)(a)(b) |
5,761 | 5,408,127 | ||||||
4.13%, 12/01/27 (Call 09/01/27) |
5,997 | 5,317,840 |
18 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Pipelines (continued) | ||||||||
4.15%, 07/01/23 (Call 04/01/23) |
$ | 613 | $ | 602,656 | ||||
4.50%, 03/01/28 (Call 12/01/27)(a)(b) |
6,398 | 5,650,010 | ||||||
Cheniere Energy Inc., 4.63%, 10/15/28 |
||||||||
(Call 10/15/23)(b) |
27,842 | 26,792,635 | ||||||
Cheniere Energy Partners LP |
||||||||
3.25%, 01/31/32 (Call 01/31/27) |
16,305 | 13,016,363 | ||||||
4.00%, 03/01/31 (Call 03/01/26)(b) |
21,200 | 18,300,900 | ||||||
4.50%, 10/01/29 (Call 10/01/24)(b) |
18,540 | 17,097,588 | ||||||
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31 (Call 06/15/26)(a)(b) |
19,010 | 16,826,701 | ||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp. |
||||||||
5.63%, 05/01/27 (Call 09/16/22)(a)(b) |
8,917 | 8,294,442 | ||||||
5.75%, 04/01/25 (Call 10/03/22)(b) |
4,353 | 4,181,057 | ||||||
6.00%, 02/01/29 (Call 02/01/24)(a)(b) |
8,934 | 8,252,782 | ||||||
8.00%, 04/01/29 (Call 04/01/24)(a)(b) |
7,736 | 7,661,688 | ||||||
DCP Midstream Operating LP |
||||||||
5.38%, 07/15/25 (Call 04/15/25) |
795 | 796,988 | ||||||
5.63%, 07/15/27 (Call 04/15/27)(b) |
859 | 869,738 | ||||||
DT Midstream Inc. |
||||||||
4.13%, 06/15/29 (Call 06/15/24)(a)(b) |
14,005 | 12,228,065 | ||||||
4.38%, 06/15/31 (Call 06/15/26)(a) |
14,330 | 12,266,798 | ||||||
EnLink Midstream LLC |
||||||||
5.38%, 06/01/29 (Call 03/01/29)(b) |
775 | 725,594 | ||||||
5.63%, 01/15/28 (Call 07/15/27)(a) |
2,175 | 2,090,719 | ||||||
6.50%, 09/01/30 |
10,385 | 10,333,075 | ||||||
EnLink Midstream Partners LP |
||||||||
4.15%, 06/01/25 (Call 03/01/25) |
9,350 | 9,176,744 | ||||||
4.85%, 07/15/26 (Call 04/15/26)(b) |
8,828 | 8,712,291 | ||||||
EQM Midstream Partners LP |
||||||||
4.00%, 08/01/24 (Call 05/01/24)(b) |
2,507 | 2,374,630 | ||||||
4.13%, 12/01/26 (Call 09/01/26)(b) |
7,935 | 7,164,511 | ||||||
4.50%, 01/15/29 (Call 07/15/28)(a)(b) |
11,541 | 9,962,913 | ||||||
4.75%, 01/15/31 (Call 07/15/30)(a)(b) |
14,657 | 12,671,489 | ||||||
5.50%, 07/15/28 (Call 04/15/28)(b) |
11,040 | 10,102,373 | ||||||
6.00%, 07/01/25 (Call 04/01/25)(a)(b) |
4,633 | 4,462,497 | ||||||
6.50%, 07/01/27 (Call 01/01/27)(a)(b) |
10,535 | 10,171,218 | ||||||
7.50%, 06/01/27 (Call 06/01/24)(a) |
5,953 | 5,886,029 | ||||||
7.50%, 06/01/30 (Call 12/01/29)(a)(b) |
7,612 | 7,535,880 | ||||||
Genesis Energy LP/Genesis Energy Finance Corp. |
||||||||
6.50%, 10/01/25 (Call 10/03/22) |
7,516 | 7,002,657 | ||||||
7.75%, 02/01/28 (Call 02/01/23)(b) |
10,334 | 9,546,032 | ||||||
8.00%, 01/15/27 (Call 01/15/24)(b) |
13,172 | 12,480,470 | ||||||
Hess Midstream Operations LP |
||||||||
4.25%, 02/15/30 (Call 02/15/25)(a)(b) |
9,574 | 8,206,442 | ||||||
5.13%, 06/15/28 (Call 06/15/23)(a)(b) |
7,004 | 6,495,147 | ||||||
5.50%, 10/15/30 (Call 10/15/25)(a) |
5,880 | 5,361,825 | ||||||
5.63%, 02/15/26 (Call 10/03/22)(a)(b) |
12,607 | 12,263,942 | ||||||
ITT Holdings LLC, 6.50%, 08/01/29 (Call 08/01/24)(a)(b) |
16,483 | 13,887,290 | ||||||
Kinetik Holdings LP, 5.88%, 06/15/30 |
||||||||
(Call 06/15/25)(a)(b) |
13,474 | 12,817,412 | ||||||
New Fortress Energy Inc. |
||||||||
6.50%, 09/30/26 (Call 03/31/23)(a) |
18,686 | 17,728,342 | ||||||
6.75%, 09/15/25 (Call 09/21/22)(a)(b) |
18,305 | 17,664,325 | ||||||
NGL Energy Operating LLC/NGL Energy Finance Corp., 7.50%, 02/01/26 (Call 02/01/23)(a) |
27,795 | 25,111,434 | ||||||
NGL Energy Partners LP/NGL Energy Finance Corp., |
||||||||
7.50%, 11/01/23 (Call 10/03/22)(b) |
2,934 | 2,779,965 | ||||||
NuStar Logistics LP |
||||||||
5.63%, 04/28/27 (Call 01/28/27)(b) |
6,655 | 6,097,125 |
Security |
Par (000) |
Value | ||||||
Pipelines (continued) | ||||||||
5.75%, 10/01/25 (Call 07/01/25)(b) |
$ | 7,218 | $ | 6,875,217 | ||||
6.00%, 06/01/26 (Call 03/01/26)(b) |
6,789 | 6,423,752 | ||||||
6.38%, 10/01/30 (Call 04/01/30)(b) |
8,714 | 7,929,740 | ||||||
Rockies Express Pipeline LLC |
||||||||
3.60%, 05/15/25 (Call 04/15/25)(a) |
5,456 | 5,004,516 | ||||||
4.95%, 07/15/29 (Call 04/15/29)(a)(b) |
8,071 | 7,270,572 | ||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. |
||||||||
5.50%, 01/15/28 (Call 01/15/23)(a)(b) |
8,675 | 7,421,128 | ||||||
6.00%, 03/01/27 (Call 03/01/23)(a)(b) |
6,037 | 5,506,951 | ||||||
6.00%, 12/31/30 (Call 12/31/25)(a)(b) |
10,270 | 9,014,790 | ||||||
6.00%, 09/01/31 (Call 09/01/26)(a)(b) |
8,039 | 7,035,242 | ||||||
7.50%, 10/01/25 (Call 10/03/22)(a)(b) |
7,360 | 7,369,200 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. |
||||||||
4.88%, 02/01/31 (Call 02/01/26) |
323 | 298,746 | ||||||
5.50%, 03/01/30 (Call 03/01/25) |
471 | 456,463 | ||||||
6.88%, 01/15/29 (Call 01/15/24) |
237 | 241,617 | ||||||
Venture Global Calcasieu Pass LLC |
||||||||
3.88%, 11/01/33 (Call 05/01/33)(a)(b) |
16,414 | 13,623,620 | ||||||
3.88%, 08/15/29 (Call 02/15/29)(a)(b) |
15,659 | 13,679,845 | ||||||
4.13%, 08/15/31 (Call 02/15/31)(a) |
17,387 | 15,048,598 | ||||||
Western Midstream Operating LP |
||||||||
3.35%, 02/01/25 (Call 01/01/25)(b) |
8,731 | 8,240,702 | ||||||
3.95%, 06/01/25 (Call 03/01/25) |
419 | 400,564 | ||||||
4.30%, 02/01/30 (Call 11/01/29)(b) |
14,965 | 13,382,451 | ||||||
4.50%, 03/01/28 (Call 12/01/27) |
5,482 | 5,083,239 | ||||||
4.65%, 07/01/26 (Call 04/01/26) |
6,274 | 5,965,846 | ||||||
4.75%, 08/15/28 (Call 05/15/28) |
6,169 | 5,824,631 | ||||||
|
|
|||||||
612,615,214 | ||||||||
Real Estate — 0.6% | ||||||||
Howard Hughes Corp. (The) |
||||||||
4.13%, 02/01/29 (Call 02/01/24)(a)(b) |
7,738 | 6,436,082 | ||||||
4.38%, 02/01/31 (Call 02/01/26)(a)(b) |
10,036 | 8,036,327 | ||||||
5.38%, 08/01/28 (Call 08/01/23)(a)(b) |
10,254 | 9,126,060 | ||||||
Kennedy-Wilson Inc. |
||||||||
4.75%, 03/01/29 (Call 03/01/24)(b) |
7,644 | 6,380,370 | ||||||
4.75%, 02/01/30 (Call 09/01/24)(b) |
8,384 | 6,753,312 | ||||||
5.00%, 03/01/31 (Call 03/01/26) |
8,794 | 7,229,620 | ||||||
Realogy Group LLC/Realogy Co-Issuer Corp. |
||||||||
5.25%, 04/15/30 (Call 04/15/25)(a) |
14,797 | 11,134,742 | ||||||
5.75%, 01/15/29 (Call 01/15/24)(a)(b) |
11,085 | 8,674,013 | ||||||
WeWork Companies Inc., 7.88%, 05/01/25(a)(b) |
8,487 | 6,293,620 | ||||||
WeWork Companies LLC/WW Co-Obligor Inc., 5.00%, 07/10/25 (Call 04/10/25)(a)(b) |
7,814 | 5,014,322 | ||||||
|
|
|||||||
75,078,468 | ||||||||
Real Estate Investment Trusts — 3.5% | ||||||||
Brookfield Property REIT Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL |
||||||||
4.50%, 04/01/27 (Call 10/01/23)(a)(b) |
10,437 | 8,865,021 | ||||||
5.75%, 05/15/26 (Call 09/12/22)(a)(b) |
12,170 | 11,372,865 | ||||||
Diversified Healthcare Trust |
||||||||
4.38%, 03/01/31 (Call 09/01/30)(b) |
6,546 | 4,492,192 | ||||||
4.75%, 02/15/28 (Call 08/15/27)(b) |
7,709 | 5,642,333 | ||||||
9.75%, 06/15/25 (Call 10/03/22)(b) |
6,098 | 5,994,639 | ||||||
HAT Holdings I LLC/HAT Holdings II LLC |
||||||||
3.38%, 06/15/26 (Call 03/15/26)(a)(b) |
13,128 | 11,413,221 | ||||||
6.00%, 04/15/25 (Call 10/03/22)(a)(b) |
5,223 | 5,072,466 |
S C H E D U L E O F I N V E S T M E N T S |
19 |
Schedule of Investments (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
Iron Mountain Inc. |
||||||||
4.50%, 02/15/31 (Call 02/15/26)(a)(b) |
$ | 15,121 | $ | 12,585,208 | ||||
4.88%, 09/15/27 (Call 09/15/22)(a)(b) |
13,841 | 12,691,782 | ||||||
4.88%, 09/15/29 (Call 09/15/24)(a)(b) |
13,437 | 11,675,409 | ||||||
5.00%, 07/15/28 (Call 07/15/23)(a)(b) |
7,446 | 6,746,076 | ||||||
5.25%, 03/15/28 (Call 12/27/22)(a)(b) |
10,030 | 9,224,123 | ||||||
5.25%, 07/15/30 (Call 07/15/25)(a) |
16,760 | 14,832,600 | ||||||
5.63%, 07/15/32 (Call 07/15/26)(a)(b) |
8,899 | 7,792,854 | ||||||
Iron Mountain Information Management Services Inc., |
||||||||
5.00%, 07/15/32 (Call 07/15/27)(a) |
9,079 | 7,541,782 | ||||||
iStar Inc. |
||||||||
4.25%, 08/01/25 (Call 05/01/25)(b) |
6,338 | 6,325,514 | ||||||
4.75%, 10/01/24 (Call 07/01/24)(b) |
9,729 | 9,687,652 | ||||||
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. |
||||||||
4.25%, 02/01/27 (Call 02/01/23)(a) |
7,478 | 6,485,103 | ||||||
4.75%, 06/15/29 (Call 06/15/24)(a) |
10,194 | 8,560,188 | ||||||
MPT Operating Partnership LP/MPT Finance Corp. |
||||||||
3.50%, 03/15/31 (Call 03/15/26) |
17,090 | 12,842,793 | ||||||
4.63%, 08/01/29 (Call 08/01/24)(b) |
11,971 | 10,070,604 | ||||||
5.00%, 10/15/27 (Call 10/15/22)(b) |
19,768 | 17,585,799 | ||||||
5.25%, 08/01/26 (Call 10/03/22)(b) |
6,563 | 6,211,675 | ||||||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer |
||||||||
4.88%, 05/15/29 (Call 05/15/24)(a)(b) |
11,145 | 9,731,535 | ||||||
5.88%, 10/01/28 (Call 10/01/23)(a)(b) |
10,622 | 9,752,377 | ||||||
7.50%, 06/01/25 (Call 10/03/22)(a)(b) |
6,676 | 6,730,076 | ||||||
RHP Hotel Properties LP/RHP Finance Corp. |
||||||||
4.50%, 02/15/29 (Call 02/15/24)(a)(b) |
8,318 | 7,195,240 | ||||||
4.75%, 10/15/27 (Call 10/15/22)(b) |
10,317 | 9,381,558 | ||||||
RLJ Lodging Trust LP |
||||||||
3.75%, 07/01/26 (Call 07/01/23)(a)(b) |
7,559 | 6,784,202 | ||||||
4.00%, 09/15/29 (Call 09/15/24)(a)(b) |
6,380 | 5,366,959 | ||||||
SBA Communications Corp. |
||||||||
3.13%, 02/01/29 (Call 02/01/24)(b) |
19,100 | 15,721,783 | ||||||
3.88%, 02/15/27 (Call 02/15/23)(b) |
19,865 | 18,104,194 | ||||||
Service Properties Trust |
||||||||
3.95%, 01/15/28 (Call 07/15/27)(b) |
6,087 | 4,540,415 | ||||||
4.35%, 10/01/24 (Call 09/01/24) |
11,448 | 10,252,840 | ||||||
4.38%, 02/15/30 (Call 08/15/29)(b) |
5,108 | 3,712,963 | ||||||
4.75%, 10/01/26 (Call 08/01/26) |
4,941 | 4,037,291 | ||||||
4.95%, 02/15/27 (Call 08/15/26)(b) |
6,366 | 5,141,916 | ||||||
4.95%, 10/01/29 (Call 07/01/29) |
6,059 | 4,533,768 | ||||||
5.50%, 12/15/27 (Call 09/15/27)(b) |
6,534 | 5,636,490 | ||||||
7.50%, 09/15/25 (Call 06/15/25) |
9,271 | 8,908,597 | ||||||
Starwood Property Trust Inc. |
||||||||
3.63%, 07/15/26 (Call 01/15/26)(a)(b) |
4,845 | 4,342,331 | ||||||
3.75%, 12/31/24 (Call 09/30/24)(a)(b) |
4,110 | 3,822,143 | ||||||
4.38%, 01/15/27 (Call 07/15/26)(a)(b) |
7,499 | 6,674,110 | ||||||
4.75%, 03/15/25 (Call 09/15/24)(b) |
8,124 | 7,717,962 | ||||||
Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC |
||||||||
6.00%, 01/15/30 (Call 01/15/25)(a)(b) |
9,307 | 6,624,723 | ||||||
7.88%, 02/15/25 (Call 10/03/22)(a) |
29,848 | 29,400,280 | ||||||
Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC |
||||||||
4.75%, 04/15/28 (Call 04/15/24)(a)(b) |
8,910 | 7,462,125 | ||||||
6.50%, 02/15/29 (Call 02/15/24)(a) |
14,743 | 11,204,680 | ||||||
VICI Properties LP/VICI Note Co. Inc. |
||||||||
3.50%, 02/15/25 (Call 10/03/22)(a)(b) |
682 | 643,787 |
Security |
Par (000) |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
3.75%, 02/15/27 (Call 02/15/23)(a)(b) |
$ | 716 | $ | 647,768 | ||||
3.88%, 02/15/29 (Call 11/15/28)(a)(b) |
450 | 399,755 | ||||||
4.13%, 08/15/30 (Call 02/15/25)(a)(b) |
633 | 556,755 | ||||||
4.25%, 12/01/26 (Call 12/01/22)(a) |
715 | 668,868 | ||||||
4.50%, 09/01/26 (Call 06/01/26)(a) |
727 | 686,310 | ||||||
4.63%, 06/15/25 (Call 03/15/25)(a)(b) |
487 | 469,930 | ||||||
4.63%, 12/01/29 (Call 12/01/24)(a) |
515 | 474,176 | ||||||
5.63%, 05/01/24 (Call 02/01/24)(a)(b) |
709 | 719,394 | ||||||
5.75%, 02/01/27 (Call 11/01/26)(a)(b) |
330 | 324,895 | ||||||
XHR LP |
||||||||
4.88%, 06/01/29 (Call 06/01/24)(a) |
7,124 | 6,235,002 | ||||||
6.38%, 08/15/25 (Call 09/12/22)(a)(b) |
7,536 | 7,323,660 | ||||||
|
|
|||||||
445,642,757 | ||||||||
Retail — 4.6% | ||||||||
1011778 BC ULC/New Red Finance Inc. |
||||||||
3.50%, 02/15/29 (Call 02/15/24)(a)(b) |
10,184 | 8,732,780 | ||||||
3.88%, 01/15/28 (Call 10/03/22)(a)(b) |
22,772 | 20,253,417 | ||||||
4.00%, 10/15/30 (Call 10/15/25)(a)(b) |
39,331 | 31,637,070 | ||||||
4.38%, 01/15/28 (Call 11/15/22)(a)(b) |
9,315 | 8,312,753 | ||||||
5.75%, 04/15/25 (Call 10/03/22)(a)(b) |
2,942 | 2,957,608 | ||||||
Asbury Automotive Group Inc. |
||||||||
4.50%, 03/01/28 (Call 03/01/23)(b) |
6,425 | 5,737,975 | ||||||
4.63%, 11/15/29 (Call 11/15/24)(a) |
10,111 | 8,630,581 | ||||||
4.75%, 03/01/30 (Call 03/01/25)(b) |
6,429 | 5,473,856 | ||||||
5.00%, 02/15/32 (Call 11/15/26)(a)(b) |
7,768 | 6,475,016 | ||||||
Bath & Body Works Inc. |
||||||||
5.25%, 02/01/28(b) |
6,028 | 5,372,455 | ||||||
6.63%, 10/01/30 (Call 10/01/25)(a)(b) |
12,864 | 11,702,381 | ||||||
7.50%, 06/15/29 (Call 06/15/24)(b) |
7,115 | 6,843,207 | ||||||
Carvana Co. |
||||||||
4.88%, 09/01/29 (Call 09/01/24)(a)(b) |
9,548 | 5,442,360 | ||||||
5.50%, 04/15/27 (Call 04/15/24)(a)(b) |
8,485 | 5,468,476 | ||||||
5.63%, 10/01/25 (Call 10/01/22)(a)(b) |
6,661 | 4,921,924 | ||||||
5.88%, 10/01/28 (Call 10/01/23)(a)(b) |
8,004 | 4,805,068 | ||||||
10.25%, 05/01/30 (Call 05/01/27)(a)(b) |
44,084 | 34,853,912 | ||||||
eG Global Finance PLC |
||||||||
6.75%, 02/07/25 (Call 09/12/22)(a)(b) |
10,170 | 9,613,447 | ||||||
8.50%, 10/30/25 (Call 10/03/22)(a) |
7,991 | 7,484,434 | ||||||
Ferrellgas LP/Ferrellgas Finance Corp. |
||||||||
5.38%, 04/01/26 (Call 04/01/23)(a)(b) |
8,760 | 7,723,156 | ||||||
5.88%, 04/01/29 (Call 04/01/24)(a)(b) |
11,576 | 9,487,227 | ||||||
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc. |
||||||||
4.63%, 01/15/29 (Call 01/15/25)(a)(b) |
14,735 | 12,819,450 | ||||||
6.75%, 01/15/30 (Call 01/15/25)(a)(b) |
16,426 | 13,423,327 | ||||||
FirstCash Inc. |
||||||||
4.63%, 09/01/28 (Call 09/01/23)(a)(b) |
6,442 | 5,605,674 | ||||||
5.63%, 01/01/30 (Call 01/01/25)(a) |
7,324 | 6,557,177 | ||||||
Gap Inc. (The) |
||||||||
3.63%, 10/01/29 (Call 10/01/24)(a)(b) |
10,265 | 7,134,175 | ||||||
3.88%, 10/01/31 (Call 10/01/26)(a)(b) |
9,558 | 6,642,810 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC, 4.75%, 06/01/27 (Call 10/03/22)(a)(b) |
9,659 | 9,232,681 | ||||||
LBM Acquisition LLC, 6.25%, 01/15/29 |
||||||||
(Call 01/15/24)(a)(b) |
10,627 | 7,917,115 | ||||||
LCM Investments Holdings II LLC, 4.88%, 05/01/29 |
||||||||
(Call 05/01/24)(a) |
13,254 | 11,061,656 | ||||||
Lithia Motors Inc. |
||||||||
3.88%, 06/01/29 (Call 06/01/24)(a) |
9,057 | 7,630,522 | ||||||
4.38%, 01/15/31 (Call 10/15/25)(a)(b) |
7,518 | 6,555,944 |
20 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Retail (continued) | ||||||||
4.63%, 12/15/27 (Call 12/15/22)(a)(b) |
$ | 5,921 | $ | 5,482,550 | ||||
Macy’s Retail Holdings LLC |
||||||||
5.88%, 04/01/29 (Call 04/01/24)(a)(b) |
6,984 | 6,036,795 | ||||||
5.88%, 03/15/30 (Call 03/15/25)(a)(b) |
6,243 | 5,312,013 | ||||||
6.13%, 03/15/32 (Call 03/15/27)(a)(b) |
5,199 | 4,337,145 | ||||||
Michaels Companies Inc. (The) |
||||||||
5.25%, 05/01/28 (Call 11/01/23)(a)(b) |
11,295 | 8,683,031 | ||||||
7.88%, 05/01/29 (Call 05/01/24)(a)(b) |
17,510 | 11,644,150 | ||||||
Murphy Oil USA Inc. |
||||||||
3.75%, 02/15/31 (Call 02/15/26)(a) |
6,699 | 5,646,118 | ||||||
4.75%, 09/15/29 (Call 09/15/24)(b) |
5,786 | 5,327,209 | ||||||
NMG Holding Co. Inc./Neiman Marcus Group LLC, |
||||||||
7.13%, 04/01/26 (Call 04/01/23)(a) |
14,082 | 13,178,504 | ||||||
Nordstrom Inc. |
||||||||
4.25%, 08/01/31 (Call 05/01/31) |
5,957 | 4,363,502 | ||||||
4.38%, 04/01/30 (Call 01/01/30)(b) |
6,827 | 5,204,734 | ||||||
Penske Automotive Group Inc. |
||||||||
3.50%, 09/01/25 (Call 10/03/22)(b) |
8,016 | 7,491,911 | ||||||
3.75%, 06/15/29 (Call 06/15/24) |
5,543 | 4,682,172 | ||||||
PetSmart Inc./PetSmart Finance Corp. |
||||||||
4.75%, 02/15/28 (Call 02/15/24)(a)(b) |
15,353 | 13,744,950 | ||||||
7.75%, 02/15/29 (Call 02/15/24)(a)(b) |
14,918 | 13,948,330 | ||||||
QVC Inc. |
||||||||
4.38%, 09/01/28 (Call 06/01/28)(b) |
6,025 | 4,609,125 | ||||||
4.45%, 02/15/25 (Call 11/15/24)(b) |
9,518 | 8,721,439 | ||||||
4.75%, 02/15/27 (Call 11/15/26)(b) |
7,324 | 6,060,610 | ||||||
4.85%, 04/01/24(b) |
6,892 | 6,626,141 | ||||||
Rite Aid Corp. |
||||||||
7.50%, 07/01/25 (Call 10/03/22)(a) |
7,762 | 6,532,810 | ||||||
8.00%, 11/15/26 (Call 01/15/23)(a)(b) |
10,511 | 8,566,465 | ||||||
Sonic Automotive Inc. |
||||||||
4.63%, 11/15/29 (Call 11/15/24)(a)(b) |
8,422 | 7,162,069 | ||||||
4.88%, 11/15/31 (Call 11/15/26)(a)(b) |
6,383 | 5,325,082 | ||||||
SRS Distribution Inc. |
||||||||
4.63%, 07/01/28 (Call 07/01/24)(a) |
8,420 | 7,431,492 | ||||||
6.00%, 12/01/29 (Call 12/01/24)(a)(b) |
10,345 | 8,425,252 | ||||||
6.13%, 07/01/29 (Call 07/01/24)(a)(b) |
7,803 | 6,419,762 | ||||||
Staples Inc. |
||||||||
7.50%, 04/15/26 (Call 10/03/22)(a)(b) |
27,538 | 23,269,610 | ||||||
10.75%, 04/15/27 (Call 10/03/22)(a)(b) |
13,729 | 10,090,815 | ||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.00%, 06/01/31 (Call 06/01/26)(a)(b) |
9,140 | 8,044,004 | ||||||
Yum! Brands Inc. |
||||||||
3.63%, 03/15/31 (Call 12/15/30)(b) |
12,694 | 10,605,837 | ||||||
4.63%, 01/31/32 (Call 10/01/26)(b) |
17,028 | 14,982,937 | ||||||
4.75%, 01/15/30 (Call 10/15/29)(a)(b) |
8,765 | 7,995,433 | ||||||
5.38%, 04/01/32 (Call 04/01/27)(b) |
13,463 | 12,360,784 | ||||||
|
|
|||||||
584,822,415 | ||||||||
Semiconductors — 0.2% | ||||||||
Entegris Escrow Corp., 5.95%, 06/15/30 |
||||||||
(Call 06/15/25)(a)(b) |
12,665 | 11,922,198 | ||||||
Entegris Inc. |
||||||||
3.63%, 05/01/29 (Call 05/01/24)(a) |
5,141 | 4,329,750 | ||||||
4.38%, 04/15/28 (Call 04/15/23)(a) |
5,582 | 4,935,716 | ||||||
|
|
|||||||
21,187,664 | ||||||||
Software — 2.1% | ||||||||
Black Knight InfoServ LLC, 3.63%, 09/01/28 |
||||||||
(Call 09/01/23)(a)(b) |
13,877 | 12,166,660 |
Security |
Par (000) |
Value | ||||||
Software (continued) | ||||||||
Central Parent Inc./CDK Global Inc., 7.25%, 06/15/29 |
||||||||
(Call 06/15/25)(a)(b) |
$ | 3,995 | $ | 3,830,246 | ||||
Change Healthcare Holdings LLC/Change Healthcare Finance Inc., 5.75%, 03/01/25 (Call 09/12/22)(a)(b) |
14,847 | 14,661,487 | ||||||
Clarivate Science Holdings Corp. |
||||||||
3.88%, 07/01/28 (Call 06/30/24)(a)(b) |
13,038 | 11,165,700 | ||||||
4.88%, 07/01/29 (Call 06/30/24)(a)(b) |
12,377 | 10,259,048 | ||||||
Fair Isaac Corp. |
||||||||
4.00%, 06/15/28 (Call 12/15/22)(a) |
12,281 | 10,818,496 | ||||||
5.25%, 05/15/26 (Call 02/15/26)(a)(b) |
3,626 | 3,504,384 | ||||||
Minerva Merger Sub Inc., 6.50%, 02/15/30 |
||||||||
(Call 02/15/25)(a)(b) |
31,508 | 26,789,992 | ||||||
MSCI Inc. |
||||||||
3.25%, 08/15/33 (Call 08/15/27)(a)(b) |
9,022 | 7,175,648 | ||||||
3.63%, 09/01/30 (Call 03/01/25)(a)(b) |
14,265 | 12,124,861 | ||||||
3.63%, 11/01/31 (Call 11/01/26)(a)(b) |
8,074 | 6,700,128 | ||||||
3.88%, 02/15/31 (Call 06/01/25)(a)(b) |
12,011 | 10,278,357 | ||||||
4.00%, 11/15/29 (Call 11/15/24)(a)(b) |
13,753 | 12,191,993 | ||||||
Open Text Corp. |
||||||||
3.88%, 02/15/28 (Call 02/15/23)(a)(b) |
11,418 | 9,733,845 | ||||||
3.88%, 12/01/29 (Call 12/01/24)(a)(b) |
11,357 | 9,205,700 | ||||||
Open Text Holdings Inc. |
||||||||
4.13%, 02/15/30 (Call 02/15/25)(a)(b) |
11,492 | 9,266,804 | ||||||
4.13%, 12/01/31 (Call 12/01/26)(a)(b) |
9,769 | 7,640,660 | ||||||
PTC Inc. |
||||||||
3.63%, 02/15/25 (Call 10/03/22)(a)(b) |
6,079 | 5,714,260 | ||||||
4.00%, 02/15/28 (Call 02/15/23)(a) |
7,130 | 6,490,032 | ||||||
Rackspace Technology Global Inc. |
||||||||
3.50%, 02/15/28 (Call 02/15/24)(a)(b) |
7,875 | 5,709,375 | ||||||
5.38%, 12/01/28 (Call 12/01/23)(a) |
7,625 | 4,209,686 | ||||||
ROBLOX
Corp., 3.88%, 05/01/30 |
12,734 | 10,537,343 | ||||||
SS&C Technologies Inc., 5.50%, 09/30/27 |
||||||||
(Call 10/03/22)(a)(b) |
26,685 | 25,317,394 | ||||||
Twilio Inc. |
||||||||
3.63%, 03/15/29 (Call 03/15/24)(b) |
5,739 | 4,792,065 | ||||||
3.88%, 03/15/31 (Call 03/15/26)(b) |
7,127 | 5,756,692 | ||||||
Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 |
||||||||
(Call 10/03/22)(a) |
23,888 | 18,393,760 | ||||||
|
|
|||||||
264,434,616 | ||||||||
Telecommunications — 6.9% | ||||||||
Altice France Holding SA |
||||||||
6.00%, 02/15/28 (Call 02/15/23)(a)(b) |
16,650 | 11,322,000 | ||||||
10.50%, 05/15/27 (Call 09/12/22)(a) |
20,628 | 17,724,265 | ||||||
Altice France SA, 5.50%, 10/15/29 (Call 10/15/24)(a)(b) |
26,343 | 20,721,844 | ||||||
Altice France SA/France |
||||||||
5.13%, 01/15/29 (Call 09/15/23)(a) |
7,312 | 5,695,188 | ||||||
5.13%, 07/15/29 (Call 04/15/24)(a) |
33,322 | 25,355,043 | ||||||
5.50%, 01/15/28 (Call 10/03/22)(a)(b) |
14,906 | 12,322,343 | ||||||
8.13%, 02/01/27 (Call 09/12/22)(a)(b) |
23,859 | 22,666,050 | ||||||
Avaya Inc., 6.13%, 09/15/28 (Call 09/15/23)(a) |
14,095 | 7,717,013 | ||||||
British Telecommunications PLC |
||||||||
4.25%, 11/23/81 (Call 11/23/26)(a)(c) |
7,766 | 6,793,590 | ||||||
4.88%, 11/23/81 (Call 08/23/31)(a)(b)(c) |
5,742 | 4,877,917 | ||||||
C&W Senior Financing DAC, 6.88%, 09/15/27 |
||||||||
(Call 09/15/22)(a)(b) |
17,052 | 15,091,020 | ||||||
CommScope Inc. |
||||||||
4.75%, 09/01/29 (Call 09/01/24)(a)(b) |
16,960 | 14,340,104 | ||||||
6.00%, 03/01/26 (Call 10/03/22)(a)(b) |
22,305 | 20,966,700 | ||||||
7.13%, 07/01/28 (Call 07/01/23)(a)(b) |
8,956 | 7,366,310 | ||||||
8.25%, 03/01/27 (Call 10/03/22)(a)(b) |
12,850 | 11,018,939 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Telecommunications (continued) | ||||||||
CommScope Technologies LLC |
||||||||
5.00%, 03/15/27 (Call 09/12/22)(a)(b) |
$ | 10,137 | $ | 7,971,260 | ||||
6.00%, 06/15/25 (Call 09/12/22)(a)(b) |
17,846 | 16,217,552 | ||||||
Connect Finco Sarl/Connect U.S. Finco LLC, 6.75%, 10/01/26 (Call 10/03/22)(a) |
27,524 | 25,195,104 | ||||||
Consolidated Communications Inc. |
||||||||
5.00%, 10/01/28 (Call 10/01/23)(a)(b) |
5,654 | 4,333,958 | ||||||
6.50%, 10/01/28 (Call 10/01/23)(a)(b) |
9,372 | 7,437,619 | ||||||
Frontier Communications Holdings LLC |
||||||||
5.00%, 05/01/28 (Call 05/01/24)(a) |
21,123 | 18,487,483 | ||||||
5.88%, 10/15/27 (Call 10/15/23)(a)(b) |
16,169 | 15,000,628 | ||||||
5.88%, 11/01/29 (Call 11/01/24)(b) |
9,498 | 7,752,742 | ||||||
6.00%, 01/15/30 (Call 10/15/24)(a)(b) |
13,263 | 10,908,817 | ||||||
6.75%, 05/01/29 (Call 05/01/24)(a)(b) |
13,494 | 11,604,840 | ||||||
8.75%, 05/15/30 (Call 05/15/25)(a) |
15,884 | 16,350,672 | ||||||
Hughes Satellite Systems Corp. |
||||||||
5.25%, 08/01/26(b) |
8,746 | 8,312,136 | ||||||
6.63%, 08/01/26(b) |
9,823 | 9,251,629 | ||||||
Iliad Holding SASU |
||||||||
6.50%, 10/15/26 (Call 10/15/23)(a) |
15,176 | 13,977,096 | ||||||
7.00%, 10/15/28 (Call 10/15/24)(a) |
13,452 | 12,195,045 | ||||||
Intelsat Jackson Holdings SA, 6.50%, 03/15/30 |
||||||||
(Call 03/15/25)(a)(b) |
41,060 | 37,322,719 | ||||||
Level 3 Financing Inc. |
||||||||
3.63%, 01/15/29 (Call 01/15/24)(a)(b) |
11,863 | 9,511,600 | ||||||
3.75%, 07/15/29 (Call 01/15/24)(a)(b) |
12,712 | 10,236,592 | ||||||
4.25%, 07/01/28 (Call 07/01/23)(a)(b) |
15,659 | 13,016,544 | ||||||
4.63%, 09/15/27 (Call 10/03/22)(a)(b) |
13,616 | 11,989,610 | ||||||
5.25%, 03/15/26 (Call 09/28/22)(b) |
11,631 | 11,825,819 | ||||||
5.38%, 05/01/25 (Call 09/28/22)(b) |
10,078 | 10,133,728 | ||||||
Lumen Technologies Inc. |
||||||||
4.00%, 02/15/27 (Call 02/15/23)(a) |
17,891 | 15,584,671 | ||||||
4.50%, 01/15/29 (Call 01/15/24)(a) |
13,675 | 10,162,781 | ||||||
5.13%, 12/15/26 (Call 12/15/22)(a)(b) |
20,813 | 17,991,798 | ||||||
5.38%, 06/15/29 (Call 06/15/24)(a) |
13,811 | 10,758,838 | ||||||
5.63%, 04/01/25 (Call 01/01/25)(b) |
7,673 | 7,443,775 | ||||||
Series W, 6.75%, 12/01/23(b) |
2,473 | 2,498,967 | ||||||
Series Y, 7.50%, 04/01/24 (Call 01/01/24)(b) |
10,165 | 10,234,122 | ||||||
Nokia OYJ, 4.38%, 06/12/27(b) |
6,834 | 6,492,997 | ||||||
Sprint Corp. |
||||||||
7.13%, 06/15/24 |
33,983 | 35,149,371 | ||||||
7.63%, 02/15/25 (Call 11/15/24) |
20,465 | 21,411,506 | ||||||
7.63%, 03/01/26 (Call 11/01/25)(b) |
20,088 | 21,296,494 | ||||||
7.88%, 09/15/23(b) |
42,008 | 43,280,842 | ||||||
Switch Ltd. |
||||||||
3.75%, 09/15/28 (Call 09/15/23)(a)(b) |
6,654 | 6,598,315 | ||||||
4.13%, 06/15/29 (Call 06/15/24)(a)(b) |
5,143 | 5,143,000 | ||||||
Telecom Italia SpA/Milano, 5.30%, 05/30/24(a)(b) |
19,488 | 18,757,200 | ||||||
Telesat Canada/Telesat LLC |
||||||||
4.88%, 06/01/27 (Call 12/01/22)(a) |
4,908 | 2,622,688 | ||||||
5.63%, 12/06/26 (Call 12/06/23)(a)(b) |
6,512 | 3,809,260 | ||||||
6.50%, 10/15/27 (Call 10/15/22)(a)(b) |
3,429 | 1,424,861 | ||||||
T-Mobile USA Inc. |
||||||||
2.25%, 02/15/26 (Call 02/15/23)(b) |
2,679 | 2,462,564 | ||||||
2.63%, 04/15/26 (Call 04/15/23) |
994 | 921,155 | ||||||
2.63%, 02/15/29 (Call 02/15/24) |
797 | 683,627 | ||||||
3.38%, 04/15/29 (Call 04/15/24) |
286 | 256,187 | ||||||
3.50%, 04/15/31 (Call 04/15/26) |
275 | 243,101 | ||||||
4.75%, 02/01/28 (Call 02/01/23) |
282 | 274,809 | ||||||
5.38%, 04/15/27 (Call 09/12/22)(b) |
449 | 450,248 |
Security |
Par/ Shares (000) |
Value | ||||||
Telecommunications (continued) | ||||||||
ViaSat Inc. |
||||||||
5.63%,
09/15/25 |
$ | 11,659 | $ | 10,219,499 | ||||
5.63%,
04/15/27 |
6,849 | 6,288,067 | ||||||
6.50%, 07/15/28 (Call 07/15/23)(a) |
5,237 | 4,031,888 | ||||||
Vmed O2 UK Financing I PLC |
||||||||
4.25%, 01/31/31 (Call 01/31/26)(a) |
19,323 | 15,605,158 | ||||||
4.75%, 07/15/31 (Call 07/15/26)(a) |
18,102 | 14,900,209 | ||||||
Vodafone Group PLC |
||||||||
3.25%, 06/04/81 (Call 06/04/26)(c) |
7,457 | 6,419,033 | ||||||
4.13%,
06/04/81 |
13,940 | 10,926,238 | ||||||
7.00%,
04/04/79 |
25,160 | 25,977,700 | ||||||
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/28 (Call 08/15/23)(a)(b) |
18,173 | 15,818,688 | ||||||
Zayo Group Holdings Inc. |
||||||||
4.00%,
03/01/27 |
20,760 | 17,697,900 | ||||||
6.13%,
03/01/28 |
13,905 | 10,673,339 | ||||||
|
|
|||||||
877,522,415 | ||||||||
Toys, Games & Hobbies — 0.2% | ||||||||
Mattel Inc. |
||||||||
3.38%,
04/01/26 |
8,298 | 7,535,663 | ||||||
3.75%,
04/01/29 |
9,009 | 8,027,019 | ||||||
5.88%,
12/15/27 |
6,238 | 6,230,202 | ||||||
|
|
|||||||
21,792,884 | ||||||||
Trucking & Leasing — 0.2% | ||||||||
AerCap Global Aviation Trust, 6.50%, 06/15/45 |
||||||||
(Call 06/15/25)(a)(b)(c) |
6,192 | 5,820,478 | ||||||
Fortress Transportation and Infrastructure Investors LLC |
||||||||
5.50%,
05/01/28 |
13,172 | 11,278,525 | ||||||
6.50%,
10/01/25 |
8,853 | 8,255,423 | ||||||
9.75%,
08/01/27 |
5,388 | 5,398,776 | ||||||
|
|
|||||||
30,753,202 | ||||||||
|
|
|||||||
Total
Long-Term Investments — 97.4% |
|
12,355,010,674 | ||||||
|
|
|||||||
Short-Term Securities | ||||||||
Money Market Funds — 25.1% |
||||||||
BlackRock
Cash Funds: Institutional, |
3,052,332 | 3,053,247,432 | ||||||
BlackRock
Cash Funds: Treasury, |
140,600 | 140,600,000 | ||||||
|
|
|||||||
Total
Short-Term Securities — 25.1% |
|
3,193,847,432 | ||||||
|
|
|||||||
Total
Investments in Securities — 122.5% |
|
15,548,858,106 | ||||||
Liabilities in Excess of Other Assets — (22.5)% |
|
(2,860,911,039 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 12,687,947,067 | ||||||
|
|
(a) |
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(b) |
All or a portion of this security is on loan. |
(c) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(d) |
Perpetual security with no stated maturity date. |
22 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ High Yield Corporate Bond ETF |
(e) |
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(f) |
Affiliate of the Fund. |
(g) |
Annualized 7-day yield as of period end. |
(h) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended August 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 02/28/22 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 08/31/22 |
Shares Held at 08/31/22 (000) |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 2,859,974,472 | $ | 192,895,730 | (a) | $ | — | $ | (687,900 | ) | $ | 1,065,130 | $ | 3,053,247,432 | 3,052,332 | $ | 6,513,258 | (b) | $ | — | |||||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
131,460,000 | 9,140,000 | (a) | — | — | — | 140,600,000 | 140,600 | 635,722 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (687,900 | ) | $ | 1,065,130 | $ | 3,193,847,432 | $ | 7,148,980 | $ | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
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 |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 12,355,010,674 | $ | — | $ | 12,355,010,674 | ||||||||
Money Market Funds |
3,193,847,432 | — | — | 3,193,847,432 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 3,193,847,432 | $ | 12,355,010,674 | $ | — | $ | 15,548,858,106 | |||||||||
|
|
|
|
|
|
|
|
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 | 23 |
Schedule of Investments (unaudited) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Corporate Bonds & Notes |
| |||||||
Advertising — 0.1% |
| |||||||
Omnicom Group Inc., 2.60%, 08/01/31 (Call 05/01/31)(a) |
$ | 14,105 | $ | 11,782,588 | ||||
Omnicom Group Inc./Omnicom Capital Inc., 3.60%, 04/15/26 (Call 01/15/26) |
13,659 | 13,309,609 | ||||||
|
|
|||||||
25,092,197 | ||||||||
Aerospace & Defense — 2.3% | ||||||||
Boeing Co. (The) |
||||||||
2.20%, 02/04/26 (Call 02/04/23) |
49,050 | 44,946,394 | ||||||
2.70%, 02/01/27 (Call 12/01/26)(a) |
11,239 | 10,194,247 | ||||||
2.75%, 02/01/26 (Call 01/01/26)(a) |
9,143 | 8,563,310 | ||||||
2.95%, 02/01/30 (Call 11/01/29)(a) |
9,462 | 8,078,247 | ||||||
3.20%, 03/01/29 (Call 12/01/28) |
9,830 | 8,698,458 | ||||||
3.25%, 02/01/28 (Call 12/01/27) |
9,184 | 8,340,226 | ||||||
3.25%, 02/01/35 (Call 11/01/34) |
10,172 | 7,826,430 | ||||||
3.60%, 05/01/34 (Call 02/01/34) |
8,252 | 6,712,203 | ||||||
3.63%, 02/01/31 (Call 11/01/30)(a) |
14,743 | 13,050,868 | ||||||
3.75%, 02/01/50 (Call 08/01/49) |
12,705 | 9,194,044 | ||||||
3.90%, 05/01/49 (Call 11/01/48) |
7,707 | 5,631,029 | ||||||
3.95%, 08/01/59 (Call 02/01/59) |
11,280 | 7,853,158 | ||||||
5.04%, 05/01/27 (Call 03/01/27) |
18,506 | 18,456,039 | ||||||
5.15%, 05/01/30 (Call 02/01/30)(a) |
46,380 | 45,591,508 | ||||||
5.71%, 05/01/40 (Call 11/01/39)(a) |
35,021 | 33,442,068 | ||||||
5.81%, 05/01/50 (Call 11/01/49) |
61,840 | 59,070,013 | ||||||
5.93%, 05/01/60 (Call 11/01/59) |
35,735 | 33,970,434 | ||||||
General Dynamics Corp. |
||||||||
3.50%, 04/01/27 (Call 02/01/27)(a) |
9,866 | 9,651,447 | ||||||
3.63%, 04/01/30 (Call 01/01/30)(a) |
15,118 | 14,570,438 | ||||||
3.75%, 05/15/28 (Call 02/15/28)(a) |
14,902 | 14,700,801 | ||||||
4.25%, 04/01/40 (Call 10/01/39) |
6,424 | 6,164,975 | ||||||
4.25%, 04/01/50 (Call 10/01/49)(a) |
7,867 | 7,532,251 | ||||||
L3Harris
Technologies Inc., 4.40%, 06/15/28 |
18,901 | 18,584,075 | ||||||
Lockheed Martin Corp. |
||||||||
2.80%, 06/15/50 (Call 12/15/49) |
6,817 | 5,068,001 | ||||||
3.55%, 01/15/26 (Call 10/15/25)(a) |
7,702 | 7,644,878 | ||||||
3.80%, 03/01/45 (Call 09/01/44) |
10,016 | 8,815,502 | ||||||
3.90%, 06/15/32 (Call 03/15/32)(a) |
12,313 | 12,070,005 | ||||||
4.07%, 12/15/42(a) |
12,716 | 11,738,231 | ||||||
4.09%, 09/15/52 (Call 03/15/52)(a) |
16,858 | 15,566,649 | ||||||
4.15%, 06/15/53 (Call 12/15/52)(a) |
12,604 | 11,753,584 | ||||||
4.70%, 05/15/46 (Call 11/15/45)(a) |
13,332 | 13,363,844 | ||||||
Northrop Grumman Corp. |
||||||||
3.20%, 02/01/27 (Call 11/01/26)(a) |
6,498 | 6,267,474 | ||||||
3.25%, 01/15/28 (Call 10/15/27)(a) |
26,361 | 25,043,741 | ||||||
4.03%, 10/15/47 (Call 04/15/47) |
21,555 | 18,943,114 | ||||||
4.40%, 05/01/30 (Call 02/01/30)(a) |
8,541 | 8,525,174 | ||||||
4.75%, 06/01/43(a) |
13,689 | 13,152,963 | ||||||
5.25%, 05/01/50 (Call 11/01/49)(a) |
11,671 | 12,245,923 | ||||||
Raytheon Technologies Corp. |
||||||||
1.90%, 09/01/31 (Call 06/01/31) |
11,304 | 9,121,105 | ||||||
2.25%, 07/01/30 (Call 04/01/30) |
14,723 | 12,563,447 | ||||||
2.38%, 03/15/32 (Call 12/15/31)(a) |
13,182 | 11,059,956 | ||||||
2.82%, 09/01/51 (Call 03/01/51) |
14,686 | 10,270,951 | ||||||
3.03%, 03/15/52 (Call 09/15/51) |
12,632 | 9,172,997 | ||||||
3.13%, 05/04/27 (Call 02/04/27) |
11,716 | 11,191,694 | ||||||
3.13%, 07/01/50 (Call 01/01/50) |
9,396 | 6,942,834 | ||||||
3.50%, 03/15/27 (Call 12/15/26)(a) |
13,169 | 12,760,878 | ||||||
3.75%, 11/01/46 (Call 05/01/46) |
11,724 | 9,681,267 |
Security |
Par (000) |
Value | ||||||
Aerospace & Defense (continued) |
| |||||||
4.13%, 11/16/28 (Call 08/16/28) |
$ | 30,795 | $ | 30,162,806 | ||||
4.15%, 05/15/45 (Call 11/16/44) |
8,054 | 7,094,002 | ||||||
4.35%, 04/15/47 (Call 10/15/46)(a) |
12,202 | 11,112,836 | ||||||
4.45%, 11/16/38 (Call 05/16/38) |
8,705 | 8,157,069 | ||||||
4.50%, 06/01/42 |
36,296 | 34,120,980 | ||||||
4.63%, 11/16/48 (Call 05/16/48)(a) |
20,522 | 19,425,530 | ||||||
Teledyne Technologies Inc., 2.75%, 04/01/31 (Call 01/01/31)(a) |
13,341 | 11,098,841 | ||||||
|
|
|||||||
784,958,939 | ||||||||
Agriculture — 1.5% | ||||||||
Altria Group Inc. |
||||||||
2.45%, 02/04/32 (Call 11/04/31) |
14,426 | 10,904,107 | ||||||
3.40%, 05/06/30 (Call 02/06/30) |
13,905 | 12,072,477 | ||||||
3.40%, 02/04/41 (Call 08/04/40) |
14,517 | 9,860,515 | ||||||
3.70%, 02/04/51 (Call 08/04/50) |
12,301 | 7,989,714 | ||||||
3.88%, 09/16/46 (Call 03/16/46) |
17,981 | 12,401,440 | ||||||
4.00%, 02/04/61 (Call 08/04/60) |
10,039 | 6,719,508 | ||||||
4.25%, 08/09/42 |
10,904 | 8,116,192 | ||||||
4.40%, 02/14/26 (Call 12/14/25)(a) |
15,168 | 15,094,893 | ||||||
4.80%, 02/14/29 (Call 11/14/28)(a) |
15,146 | 14,665,055 | ||||||
5.38%, 01/31/44(a) |
17,856 | 15,591,645 | ||||||
5.80%, 02/14/39 (Call 08/14/38) |
20,327 | 18,731,613 | ||||||
5.95%, 02/14/49 (Call 08/14/48)(a) |
26,687 | 23,919,094 | ||||||
Archer-Daniels-Midland Co. |
||||||||
2.50%, 08/11/26 (Call 05/11/26)(a) |
9,326 | 8,865,204 | ||||||
2.70%, 09/15/51 (Call 03/15/51) |
5,679 | 4,251,323 | ||||||
2.90%, 03/01/32 (Call 12/01/31)(a) |
6,151 | 5,558,215 | ||||||
3.25%, 03/27/30 (Call 12/27/29)(a) |
14,290 | 13,473,738 | ||||||
BAT Capital Corp. |
||||||||
2.26%, 03/25/28 (Call 01/25/28)(a) |
19,420 | 16,430,786 | ||||||
2.73%, 03/25/31 (Call 12/25/30)(a) |
14,305 | 11,450,157 | ||||||
3.22%, 09/06/26 (Call 07/06/26)(a) |
12,340 | 11,525,949 | ||||||
3.56%, 08/15/27 (Call 05/15/27) |
34,685 | 31,885,060 | ||||||
3.73%, 09/25/40 (Call 03/25/40) |
13,086 | 9,153,997 | ||||||
3.98%, 09/25/50 (Call 03/25/50)(a) |
9,669 | 6,475,529 | ||||||
4.39%, 08/15/37 (Call 02/15/37) |
26,865 | 21,245,019 | ||||||
4.54%, 08/15/47 (Call 02/15/47) |
24,607 | 17,978,246 | ||||||
4.70%, 04/02/27 (Call 02/02/27)(a) |
11,562 | 11,261,690 | ||||||
4.74%, 03/16/32 (Call 12/16/31)(a) |
9,458 | 8,486,997 | ||||||
4.76%, 09/06/49 (Call 03/06/49)(a) |
10,102 | 7,604,989 | ||||||
4.91%, 04/02/30 (Call 01/02/30)(a) |
10,079 | 9,489,755 | ||||||
BAT International Finance PLC |
||||||||
1.67%, 03/25/26 (Call 02/25/26)(a) |
12,931 | 11,521,363 | ||||||
4.45%, 03/16/28 (Call 02/16/28) |
12,689 | 12,056,936 | ||||||
Bunge Ltd. Finance Corp., 2.75%, 05/14/31 (Call 02/14/31)(a) |
12,472 | 10,472,435 | ||||||
Philip Morris International Inc. |
||||||||
0.88%, 05/01/26 (Call 04/01/26) |
9,081 | 8,073,274 | ||||||
1.75%, 11/01/30 (Call 08/01/30)(a) |
8,942 | 6,911,224 | ||||||
2.10%, 05/01/30 (Call 02/01/30) |
8,429 | 6,777,225 | ||||||
2.75%, 02/25/26 (Call 11/25/25)(a) |
9,042 | 8,596,543 | ||||||
3.38%, 08/15/29 (Call 05/15/29)(a) |
8,297 | 7,469,209 | ||||||
3.88%, 08/21/42 |
8,766 | 6,628,836 | ||||||
4.13%, 03/04/43 |
9,959 | 7,753,982 | ||||||
4.25%, 11/10/44(a) |
11,685 | 9,200,593 | ||||||
4.38%, 11/15/41 |
8,853 | 7,319,058 | ||||||
4.88%, 11/15/43(a) |
6,786 | 5,828,571 | ||||||
6.38%, 05/16/38 |
18,463 | 19,111,882 |
24 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Agriculture (continued) |
||||||||
Reynolds American Inc. |
||||||||
5.70%, 08/15/35 (Call 02/15/35) |
$ | 9,292 | $ | 8,602,269 | ||||
5.85%, 08/15/45 (Call 02/15/45) |
21,064 | 17,958,402 | ||||||
|
|
|||||||
505,484,709 | ||||||||
Airlines — 0.1% | ||||||||
Southwest
Airlines Co., 5.13%, 06/15/27 |
22,410 | 22,874,678 | ||||||
|
|
|||||||
Apparel — 0.2% | ||||||||
NIKE Inc. |
||||||||
2.38%, 11/01/26 (Call 08/01/26)(a) |
10,589 | 10,065,946 | ||||||
2.75%, 03/27/27 (Call 01/27/27)(a) |
14,754 | 14,161,608 | ||||||
2.85%, 03/27/30 (Call 12/27/29)(a) |
22,412 | 20,544,975 | ||||||
3.25%, 03/27/40 (Call 09/27/39)(a) |
12,709 | 10,765,748 | ||||||
3.38%, 03/27/50 (Call 09/27/49)(a) |
15,306 | 12,751,680 | ||||||
3.88%, 11/01/45 (Call 05/01/45)(a) |
6,334 | 5,728,310 | ||||||
VF Corp., 2.95%, 04/23/30 (Call 01/23/30)(a) |
9,553 | 8,328,672 | ||||||
|
|
|||||||
82,346,939 | ||||||||
Auto Manufacturers — 1.3% | ||||||||
American Honda Finance Corp. |
||||||||
1.00%, 09/10/25(a) |
7,250 | 6,628,289 | ||||||
1.30%, 09/09/26(a) |
11,278 | 10,156,584 | ||||||
2.00%, 03/24/28(a) |
10,928 | 9,683,697 | ||||||
Cummins Inc., 1.50%, 09/01/30 (Call 06/01/30)(a) |
7,232 | 5,867,743 | ||||||
General Motors Co. |
||||||||
4.20%, 10/01/27 (Call 07/01/27)(a) |
10,977 | 10,491,697 | ||||||
5.00%, 10/01/28 (Call 07/01/28)(a) |
9,394 | 9,109,785 | ||||||
5.00%, 04/01/35(a) |
7,278 | 6,505,608 | ||||||
5.15%, 04/01/38 (Call 10/01/37) |
11,080 | 9,728,054 | ||||||
5.20%, 04/01/45(a) |
12,171 | 10,151,954 | ||||||
5.40%, 10/15/29 (Call 08/15/29)(a) |
4,960 | 4,818,342 | ||||||
5.40%, 04/01/48 (Call 10/01/47)(a) |
7,252 | 6,283,485 | ||||||
5.60%, 10/15/32 (Call 07/15/32) |
8,711 | 8,344,547 | ||||||
5.95%, 04/01/49 (Call 10/01/48)(a) |
8,181 | 7,583,897 | ||||||
6.13%, 10/01/25 (Call 09/01/25)(a) |
15,247 | 15,702,396 | ||||||
6.25%, 10/02/43(a) |
16,127 | 15,440,349 | ||||||
6.60%, 04/01/36 (Call 10/01/35) |
11,033 | 11,174,527 | ||||||
6.75%, 04/01/46 (Call 10/01/45)(a) |
9,656 | 9,761,219 | ||||||
6.80%, 10/01/27 (Call 08/01/27) |
9,796 | 10,375,654 | ||||||
General Motors Financial Co. Inc. |
||||||||
1.25%, 01/08/26 (Call 12/08/25)(a) |
17,042 | 15,024,902 | ||||||
1.50%, 06/10/26 (Call 05/10/26) |
15,616 | 13,708,089 | ||||||
2.35%, 02/26/27 (Call 01/26/27)(a) |
9,905 | 8,784,814 | ||||||
2.35%, 01/08/31 (Call 10/08/30)(a) |
9,875 | 7,647,061 | ||||||
2.40%, 04/10/28 (Call 02/10/28)(a) |
12,180 | 10,310,583 | ||||||
2.40%, 10/15/28 (Call 08/15/28) |
6,121 | 5,096,261 | ||||||
2.70%, 08/20/27 (Call 06/20/27) |
10,889 | 9,681,700 | ||||||
2.70%, 06/10/31 (Call 03/10/31) |
11,453 | 9,006,386 | ||||||
3.10%, 01/12/32 (Call 10/12/31)(a) |
12,812 | 10,352,157 | ||||||
3.60%, 06/21/30 (Call 03/21/30) |
12,980 | 11,203,775 | ||||||
4.00%, 10/06/26 (Call 07/06/26)(a) |
9,064 | 8,721,273 | ||||||
4.30%, 04/06/29 (Call 02/06/29)(a) |
8,925 | 8,201,914 | ||||||
4.35%, 01/17/27 (Call 10/17/26) |
11,393 | 10,994,235 | ||||||
5.00%, 04/09/27 (Call 03/09/27) |
17,337 | 17,135,024 | ||||||
5.25%, 03/01/26 (Call 12/01/25) |
12,935 | 13,018,715 | ||||||
Honda Motor Co. Ltd. |
||||||||
2.53%, 03/10/27 (Call 02/10/27)(a) |
8,194 | 7,659,319 | ||||||
2.97%, 03/10/32 (Call 12/10/31)(a) |
12,827 | 11,489,999 | ||||||
Mercedes-Benz Finance North America LLC, 8.50%, 01/18/31(a) |
17,542 | 22,156,881 |
Security |
Par (000) |
Value | ||||||
Auto Manufacturers (continued) |
||||||||
Toyota Motor Corp., 1.34%, 03/25/26 (Call 02/25/26)(a) |
$ | 13,522 | $ | 12,397,798 | ||||
Toyota Motor Credit Corp. |
||||||||
0.80%, 10/16/25(a) |
10,890 | 9,886,363 | ||||||
1.13%, 06/18/26(a) |
10,683 | 9,641,409 | ||||||
1.90%, 01/13/27(a) |
9,062 | 8,331,947 | ||||||
1.90%, 04/06/28(a) |
7,974 | 7,093,890 | ||||||
2.15%, 02/13/30(a) |
8,422 | 7,305,592 | ||||||
3.05%, 03/22/27(a) |
15,700 | 15,062,459 | ||||||
3.20%, 01/11/27(a) |
7,484 | 7,236,684 | ||||||
3.38%, 04/01/30(a) |
10,918 | 10,304,341 | ||||||
4.45%, 06/29/29(a) |
9,817 | 9,894,629 | ||||||
|
|
|||||||
465,156,027 | ||||||||
Auto Parts & Equipment — 0.1% | ||||||||
Aptiv PLC, 3.10%, 12/01/51 (Call 06/01/51) |
14,244 | 8,789,098 | ||||||
Aptiv PLC/Aptiv Corp. |
||||||||
3.25%, 03/01/32 (Call 12/01/31)(a) |
9,573 | 8,058,121 | ||||||
4.15%, 05/01/52 (Call 11/01/51)(a) |
8,710 | 6,461,683 | ||||||
BorgWarner Inc., 2.65%, 07/01/27 (Call 05/01/27) |
10,402 | 9,459,067 | ||||||
Magna International Inc., 2.45%, 06/15/30 (Call 03/15/30)(a) |
9,502 | 8,112,464 | ||||||
|
|
|||||||
40,880,433 | ||||||||
Banks — 23.5% | ||||||||
Australia & New Zealand Banking Group Ltd./New York NY, 3.70%, 11/16/25 |
2,721 | 2,692,021 | ||||||
Banco Bilbao Vizcaya Argentaria SA, 1.13%, 09/18/25 |
3,555 | 3,217,391 | ||||||
Banco Santander SA |
||||||||
1.72%, 09/14/27 (Call 09/14/26)(b) |
20,097 | 17,303,043 | ||||||
1.85%, 03/25/26 |
17,763 | 15,785,975 | ||||||
2.75%, 12/03/30(a) |
18,417 | 14,229,412 | ||||||
2.96%, 03/25/31(a) |
9,474 | 7,723,383 | ||||||
3.31%, 06/27/29(a) |
8,835 | 7,942,517 | ||||||
3.49%, 05/28/30(a) |
13,922 | 11,935,196 | ||||||
3.80%, 02/23/28(a) |
9,996 | 9,135,953 | ||||||
4.18%, 03/24/28 (Call 03/24/27)(b) |
20,369 | 19,068,853 | ||||||
4.25%, 04/11/27 |
7,806 | 7,472,264 | ||||||
4.38%, 04/12/28(a) |
13,143 | 12,358,082 | ||||||
5.29%, 08/18/27 |
1,504 | 1,470,552 | ||||||
Bank of America Corp. |
||||||||
1.20%,
10/24/26 (Call 10/24/25), |
18,212 | 16,286,320 | ||||||
1.73%,
07/22/27 (Call 07/22/26), |
46,247 | 41,029,728 | ||||||
1.90%,
07/23/31 (Call 07/23/30), |
21,516 | 17,094,927 | ||||||
1.92%,
10/24/31 (Call 10/24/30), |
20,039 | 15,855,089 | ||||||
2.09%,
06/14/29 (Call 06/14/28), |
22,060 | 18,785,740 | ||||||
2.30%,
07/21/32 (Call 07/21/31), |
28,724 | 22,883,572 | ||||||
2.50%,
02/13/31 (Call 02/13/30), |
27,964 | 23,438,485 | ||||||
2.55%,
02/04/28 (Call 02/04/27), |
16,931 | 15,347,989 | ||||||
2.57%,
10/20/32 (Call 10/20/31), |
28,559 | 23,279,692 | ||||||
2.59%,
04/29/31 (Call 04/29/30), |
22,497 | 18,979,221 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
2.68%,
06/19/41 (Call 06/19/40), |
$ | 39,940 | $ | 28,500,158 | ||||
2.69%, 04/22/32 (Call 04/22/31), |
||||||||
(SOFR + 1.320%)(b) |
37,463 | 31,093,582 | ||||||
2.83%, 10/24/51 (Call 10/24/50), |
||||||||
(SOFR + 1.880%)(b) |
7,700 | 5,225,983 | ||||||
2.88%, 10/22/30 (Call 10/22/29), |
||||||||
(3 mo. LIBOR US + 1.190%)(b) |
14,399 | 12,513,126 | ||||||
2.97%, 02/04/33 (Call 02/04/32), |
||||||||
(SOFR + 1.330%)(b) |
32,512 | 27,335,943 | ||||||
2.97%, 07/21/52 (Call 07/21/51), |
||||||||
(SOFR + 1.560%)(b) |
18,501 | 12,965,455 | ||||||
3.19%, 07/23/30 (Call 07/23/29), |
||||||||
(3 mo. LIBOR US + 1.180%)(b) |
17,279 | 15,364,459 | ||||||
3.25%, 10/21/27 (Call 10/21/26)(a) |
18,201 | 17,178,430 | ||||||
3.31%, 04/22/42 (Call 04/22/41), |
||||||||
(SOFR + 1.580%)(a)(b) |
29,163 | 22,646,671 | ||||||
3.42%, 12/20/28 (Call 12/20/27), |
||||||||
(3 mo. LIBOR US + 1.040%)(a)(b) |
46,600 | 43,178,055 | ||||||
3.50%, 04/19/26 |
17,525 | 17,081,831 | ||||||
3.56%, 04/23/27 (Call 04/23/26), |
||||||||
(3 mo. LIBOR US + 1.060%)(b) |
23,391 | 22,344,737 | ||||||
3.59%, 07/21/28 (Call 07/21/27), |
||||||||
(3 mo. LIBOR US + 1.370%)(b) |
16,542 | 15,565,948 | ||||||
3.71%, 04/24/28 (Call 04/24/27), |
||||||||
(3 mo. LIBOR US + 1.512%)(b) |
16,424 | 15,577,821 | ||||||
3.82%, 01/20/28 (Call 01/20/27), |
||||||||
(3 mo. LIBOR US + 1.575%)(b) |
18,950 | 18,135,887 | ||||||
3.95%, 01/23/49 (Call 01/23/48), |
||||||||
(3 mo. LIBOR US + 1.19%)(b) |
10,016 | 8,517,185 | ||||||
3.97%, 03/05/29 (Call 03/05/28), |
||||||||
(3 mo. LIBOR US + 1.070%)(a)(b) |
20,414 | 19,327,038 | ||||||
3.97%, 02/07/30 (Call 02/07/29), |
||||||||
(3 mo. LIBOR US + 1.210%)(a)(b) |
23,249 | 21,831,157 | ||||||
4.08%, 04/23/40 (Call 04/23/39), |
||||||||
(3 mo. LIBOR US + 1.320%)(b) |
13,639 | 11,862,460 | ||||||
4.08%, 03/20/51 (Call 03/20/50), |
||||||||
(3 mo. LIBOR US + 3.150%)(a)(b) |
46,030 | 39,297,417 | ||||||
4.24%, 04/24/38 (Call 04/24/37), |
||||||||
(3 mo. LIBOR US + 1.814%)(a)(b) |
17,767 | 16,015,753 | ||||||
4.25%, 10/22/26 |
13,757 | 13,552,717 | ||||||
4.27%, 07/23/29 (Call 07/23/28), |
||||||||
(3 mo. LIBOR US + 1.310%)(b) |
23,254 | 22,264,982 | ||||||
4.33%, 03/15/50 (Call 03/15/49), |
||||||||
(3 mo. LIBOR US + 1.520%)(b) |
21,542 | 19,232,435 | ||||||
4.38%, 04/27/28 (Call 04/27/27), |
||||||||
(SOFR + 1.580%)(b) |
18,391 | 18,043,432 | ||||||
4.44%, 01/20/48 (Call 01/20/47), |
||||||||
(3 mo. LIBOR US + 1.990%)(b) |
17,317 | 15,828,642 | ||||||
4.45%, 03/03/26 |
14,756 | 14,694,009 | ||||||
4.57%, 04/27/33 (Call 04/27/32), |
||||||||
(SOFR + 1.830%)(a)(b) |
32,372 | 30,941,947 | ||||||
4.95%, 07/22/28 (Call 07/22/27)(b) |
33,212 | 33,171,249 | ||||||
5.00%, 01/21/44(a) |
17,511 | 16,958,349 | ||||||
5.02%, 07/22/33 (Call 07/22/32)(b) |
43,253 | 42,812,460 | ||||||
5.88%, 02/07/42(a) |
11,550 | 12,574,822 | ||||||
6.11%, 01/29/37(a) |
18,590 | 19,681,707 | ||||||
7.75%, 05/14/38(a) |
16,548 | 20,424,533 | ||||||
Series L, 4.18%, 11/25/27 (Call 11/25/26)(a) |
14,313 | 13,950,804 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Series N, 1.66%, 03/11/27 (Call 03/11/26), |
||||||||
(SOFR + 0.910%)(b) |
$ | 22,614 | $ | 20,256,090 | ||||
Series N, 2.65%, 03/11/32 (Call 03/11/31), |
||||||||
(SOFR + 1.220%)(b) |
15,215 | 12,622,442 | ||||||
Series N, 3.48%, 03/13/52 (Call 03/13/51), |
||||||||
(SOFR + 1.650%)(b) |
9,990 | 7,740,700 | ||||||
Bank of America N.A., 6.00%, 10/15/36(a) |
11,912 | 12,819,249 | ||||||
Bank of Montreal |
||||||||
0.95%, 01/22/27 (Call 01/22/26), |
||||||||
(SOFR + 0.603%)(b) |
14,795 | 13,179,979 | ||||||
1.25%, 09/15/26(a) |
17,816 | 15,881,617 | ||||||
2.65%, 03/08/27(a) |
17,795 | 16,566,723 | ||||||
Bank of New York Mellon Corp. (The) |
||||||||
2.05%, 01/26/27 (Call 12/26/26)(a) |
10,484 | 9,650,959 | ||||||
2.45%, 08/17/26 (Call 05/17/26)(a) |
11,175 | 10,511,584 | ||||||
2.80%, 05/04/26 (Call 02/04/26)(a) |
6,916 | 6,674,240 | ||||||
3.25%, 05/16/27 (Call 02/16/27)(a) |
10,324 | 9,935,895 | ||||||
3.30%, 08/23/29 (Call 05/23/29)(a) |
7,613 | 7,098,373 | ||||||
3.40%, 01/29/28 (Call 10/29/27) |
7,941 | 7,595,294 | ||||||
3.85%, 04/28/28(a) |
12,238 | 11,994,204 | ||||||
Bank of Nova Scotia (The) |
||||||||
1.05%, 03/02/26(a) |
10,105 | 9,067,463 | ||||||
1.30%, 09/15/26 |
14,693 | 13,041,164 | ||||||
1.35%, 06/24/26(a) |
9,711 | 8,716,600 | ||||||
1.95%, 02/02/27 |
13,848 | 12,462,771 | ||||||
2.45%, 02/02/32 |
6,838 | 5,675,679 | ||||||
2.70%, 08/03/26(a) |
13,684 | 12,884,120 | ||||||
4.50%, 12/16/25(a) |
11,922 | 11,889,977 | ||||||
Barclays PLC |
||||||||
2.28%, 11/24/27 (Call 11/24/26)(b) |
19,446 | 17,062,797 | ||||||
2.65%, 06/24/31 (Call 06/24/30), |
||||||||
(SOFR + 1.900%)(b) |
8,865 | 7,044,224 | ||||||
2.67%, 03/10/32 (Call 03/10/31)(b) |
10,916 | 8,460,050 | ||||||
2.89%, 11/24/32 (Call 11/24/31)(b) |
13,309 | 10,444,923 | ||||||
3.33%, 11/24/42 (Call 11/24/41)(b) |
12,392 | 8,898,304 | ||||||
4.34%, 01/10/28 (Call 01/10/27)(a) |
13,736 | 13,004,951 | ||||||
4.38%, 01/12/26 |
21,152 | 20,733,732 | ||||||
4.84%, 05/09/28 (Call 05/07/27)(a) |
20,507 | 19,368,156 | ||||||
4.95%, 01/10/47(a) |
14,911 | 13,622,162 | ||||||
4.97%, 05/16/29 (Call 05/16/28), |
||||||||
(3 mo. LIBOR US + 1.902%)(b) |
20,151 | 19,235,842 | ||||||
5.20%, 05/12/26 |
16,057 | 15,918,261 | ||||||
5.25%, 08/17/45(a) |
13,238 | 12,280,957 | ||||||
5.50%, 08/09/28 |
16,091 | 15,825,743 | ||||||
5.75%, 08/09/33(a) |
5,668 | 5,530,259 | ||||||
Canadian Imperial Bank of Commerce |
||||||||
1.25%, 06/22/26 |
9,406 | 8,403,730 | ||||||
3.45%, 04/07/27(a) |
11,096 | 10,636,833 | ||||||
3.60%, 04/07/32 (Call 03/07/32)(a) |
9,299 | 8,491,625 | ||||||
Citigroup Inc. |
||||||||
1.12%, 01/28/27 (Call 01/28/26), |
||||||||
(SOFR + 0.765%)(b) |
26,655 | 23,544,148 | ||||||
1.46%, 06/09/27 (Call 06/09/26), |
||||||||
(SOFR + 0.770%)(b) |
27,733 | 24,457,417 | ||||||
2.52%, 11/03/32 (Call 11/03/31), |
||||||||
(SOFR + 1.177%)(b) |
17,763 | 14,406,685 | ||||||
2.56%, 05/01/32 (Call 05/01/31), |
||||||||
(SOFR + 1.167%)(b) |
29,928 | 24,490,840 | ||||||
2.57%, 06/03/31 (Call 06/03/30), |
||||||||
(SOFR + 2.107%)(b) |
36,243 | 30,274,111 |
26 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
2.67%, 01/29/31 (Call 01/29/30), |
||||||||
(SOFR + 1.146%)(b) |
$ | 20,713 | $ | 17,597,125 | ||||
2.90%, 11/03/42 (Call 11/03/41), |
||||||||
(SOFR + 1.379%)(a)(b) |
14,702 | 10,720,022 | ||||||
2.98%, 11/05/30 (Call 11/05/29), |
||||||||
(SOFR + 1.422%)(a)(b) |
23,010 | 20,077,355 | ||||||
3.06%, 01/25/33 (Call 01/25/32), |
||||||||
(SOFR + 1.351%)(a)(b) |
35,847 | 30,301,111 | ||||||
3.07%, 02/24/28 (Call 02/24/27), |
||||||||
(SOFR + 1.280%)(b) |
24,688 | 22,839,254 | ||||||
3.20%, 10/21/26 (Call 07/21/26) |
29,731 | 28,324,132 | ||||||
3.40%, 05/01/26(a) |
19,644 | 18,954,653 | ||||||
3.52%, 10/27/28 (Call 10/27/27), |
||||||||
(3 mo. LIBOR US + 1.151%)(b) |
21,464 | 19,934,201 | ||||||
3.67%, 07/24/28 (Call 07/24/27), |
||||||||
(3 mo. LIBOR US + 1.390%)(b) |
25,575 | 23,990,583 | ||||||
3.70%, 01/12/26(a) |
14,305 | 13,967,579 | ||||||
3.79%, 03/17/33 (Call 03/17/32), |
||||||||
(SOFR + 1.939%)(b) |
37,668 | 33,834,125 | ||||||
3.88%, 01/24/39 (Call 01/24/38), |
||||||||
(3 mo. LIBOR US + 1.168%)(a)(b) |
13,884 | 12,051,025 | ||||||
3.89%, 01/10/28 (Call 01/10/27), |
||||||||
(3 mo. LIBOR US + 1.563%)(b) |
26,490 | 25,370,752 | ||||||
3.98%, 03/20/30 (Call 03/20/29), |
||||||||
(3 mo. LIBOR US + 1.338%)(a)(b) |
26,498 | 24,783,707 | ||||||
4.08%, 04/23/29 (Call 04/23/28), |
||||||||
(3 mo. LIBOR US + 1.192%)(a)(b) |
18,234 | 17,318,003 | ||||||
4.13%, 07/25/28(a) |
19,620 | 18,692,327 | ||||||
4.28%, 04/24/48 (Call 04/24/47), |
||||||||
(3 mo. LIBOR US + 1.839%)(a)(b) |
10,595 | 9,474,036 | ||||||
4.30%, 11/20/26 |
9,263 | 9,151,293 | ||||||
4.41%, 03/31/31 (Call 03/31/30), |
||||||||
(SOFR + 3.914%)(b) |
41,569 | 39,556,848 | ||||||
4.45%, 09/29/27(a) |
40,354 | 39,401,468 | ||||||
4.60%, 03/09/26(a) |
14,200 | 14,176,009 | ||||||
4.65%, 07/30/45(a) |
12,441 | 11,497,761 | ||||||
4.65%, 07/23/48 (Call 06/23/48)(a) |
24,862 | 23,255,930 | ||||||
4.66%, 05/24/28 (Call 05/24/27), |
||||||||
(SOFR + 1.887%)(a)(b) |
16,093 | 15,862,083 | ||||||
4.75%, 05/18/46(a) |
19,214 | 17,271,295 | ||||||
4.91%, 05/24/33 (Call 05/24/32)(a)(b) |
28,359 | 27,770,335 | ||||||
5.30%, 05/06/44 |
8,592 | 8,310,572 | ||||||
5.32%, 03/26/41 (Call 03/26/40), |
||||||||
(SOFR + 4.548%)(b) |
14,194 | 14,137,000 | ||||||
5.50%, 09/13/25(a) |
9,874 | 10,111,398 | ||||||
5.88%, 01/30/42(a) |
13,561 | 14,426,898 | ||||||
6.63%, 06/15/32(a) |
12,847 | 13,923,439 | ||||||
6.68%, 09/13/43(a) |
10,421 | 11,799,421 | ||||||
8.13%, 07/15/39(a) |
21,515 | 28,080,365 | ||||||
Citizens Bank NA, 4.58%, 08/09/28 |
119 | 117,666 | ||||||
Citizens Financial Group Inc., 3.25%, 04/30/30 |
||||||||
(Call 01/30/30) |
12,467 | 11,020,746 | ||||||
Cooperatieve Rabobank U.A. |
||||||||
3.75%, 07/21/26 |
17,074 | 16,301,005 | ||||||
5.25%, 05/24/41(a) |
16,032 | 17,416,349 | ||||||
5.25%, 08/04/45(a) |
11,964 | 11,585,701 | ||||||
5.75%, 12/01/43(a) |
15,008 | 15,512,215 | ||||||
Credit Suisse AG, 5.00%, 07/09/27 |
10,664 | 10,357,351 | ||||||
Credit
Suisse AG/New York NY, |
25,725 | 22,165,018 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Credit Suisse Group AG |
||||||||
4.55%, 04/17/26 |
$ | 28,003 | $ | 26,895,633 | ||||
4.88%, 05/15/45 |
15,983 | 12,845,917 | ||||||
Deutsche Bank AG/New York NY |
||||||||
1.69%, 03/19/26(a) |
15,171 | 13,670,573 | ||||||
2.13%, 11/24/26 (Call 11/24/25), |
||||||||
(SOFR + 1.870%)(b) |
17,484 | 15,423,322 | ||||||
2.31%, 11/16/27 (Call 11/16/26), |
||||||||
(SOFR + 1.219%)(b) |
24,884 | 21,182,973 | ||||||
2.55%, 01/07/28 (Call 01/07/27), |
||||||||
(SOFR + 1.318%)(b) |
20,091 | 17,122,836 | ||||||
3.04%, 05/28/32 (Call 05/28/31), |
||||||||
(SOFR + 1.718%)(b) |
4,741 | 3,680,983 | ||||||
3.55%, 09/18/31 (Call 09/18/30), |
||||||||
(SOFR + 3.043%)(a)(b) |
19,987 | 16,357,769 | ||||||
Discover Bank |
||||||||
3.45%, 07/27/26 (Call 04/27/26) |
12,403 | 11,758,777 | ||||||
4.65%, 09/13/28 (Call 06/13/28) |
14,833 | 14,258,866 | ||||||
Fifth Third Bancorp. |
||||||||
2.55%, 05/05/27 (Call 04/05/27)(a) |
8,703 | 8,027,441 | ||||||
4.77%, 07/28/30 (Call 07/28/29)(b) |
12,904 | 12,795,732 | ||||||
8.25%, 03/01/38(a) |
11,205 | 14,428,209 | ||||||
Fifth
Third Bank NA, 3.85%, 03/15/26 |
13,925 | 13,550,605 | ||||||
Goldman Sachs Group Inc. (The) |
||||||||
1.09%, 12/09/26 (Call 12/09/25), |
||||||||
(SOFR + 0.789%)(b) |
24,594 | 22,018,123 | ||||||
1.43%, 03/09/27 (Call 03/09/26), |
||||||||
(SOFR + 0.798%)(b) |
31,694 | 28,184,739 | ||||||
1.54%, 09/10/27 (Call 09/10/26), |
||||||||
(SOFR + 0.818%)(a)(b) |
28,812 | 25,319,937 | ||||||
1.95%, 10/21/27 (Call 10/21/26), |
||||||||
(SOFR + 0.913%)(a)(b) |
44,553 | 39,614,393 | ||||||
1.99%, 01/27/32 (Call 01/27/31), |
||||||||
(SOFR + 1.090%)(a)(b) |
25,799 | 20,433,272 | ||||||
2.38%, 07/21/32 (Call 07/21/31), |
||||||||
(SOFR + 1.248%)(b) |
40,354 | 32,575,125 | ||||||
2.60%, 02/07/30 (Call 11/07/29) |
18,556 | 15,897,736 | ||||||
2.62%, 04/22/32 (Call 04/22/31), |
||||||||
(SOFR + 1.281%)(b) |
35,848 | 29,531,901 | ||||||
2.64%, 02/24/28 (Call 02/24/27), |
||||||||
(SOFR + 1.114%)(b) |
29,959 | 27,174,170 | ||||||
2.65%, 10/21/32 (Call 10/21/31), |
||||||||
(SOFR + 1.264%)(b) |
29,001 | 23,797,406 | ||||||
2.91%, 07/21/42 (Call 07/21/41), |
||||||||
(SOFR + 1.472%)(b) |
17,283 | 12,572,015 | ||||||
3.10%, 02/24/33 (Call 02/24/32), |
||||||||
(SOFR + 1.410%)(b) |
41,304 | 35,131,092 | ||||||
3.21%, 04/22/42 (Call 04/22/41), |
||||||||
(SOFR + 1.513%)(a)(b) |
25,308 | 19,309,564 | ||||||
3.44%, 02/24/43 (Call 02/24/42), |
||||||||
(SOFR + 1.632%)(b) |
21,204 | 16,673,719 | ||||||
3.50%, 11/16/26 (Call 11/16/25)(a) |
27,329 | 26,257,260 | ||||||
3.62%, 03/15/28 (Call 03/15/27), |
||||||||
(SOFR + 1.846%)(b) |
32,485 | 30,704,104 | ||||||
3.69%, 06/05/28 (Call 06/05/27), |
||||||||
(3 mo. LIBOR US + 1.510%)(a)(b) |
22,876 | 21,626,758 | ||||||
3.75%, 02/25/26 (Call 11/25/25)(a) |
17,654 | 17,300,118 | ||||||
3.80%, 03/15/30 (Call 12/15/29)(a) |
25,402 | 23,426,339 | ||||||
3.81%, 04/23/29 (Call 04/23/28), |
||||||||
(3 mo. LIBOR US + 1.158%)(b) |
24,714 | 23,143,005 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.85%, 01/26/27 (Call 01/26/26)(a) |
$ | 29,641 | $ | 28,717,256 | ||||
4.02%, 10/31/38 (Call 10/31/37), |
||||||||
(3 mo. LIBOR US + 1.373%)(b) |
27,538 | 24,001,454 | ||||||
4.22%, 05/01/29 (Call 05/01/28), |
||||||||
(3 mo. LIBOR US + 1.301%)(a)(b) |
35,473 | 33,898,510 | ||||||
4.25%, 10/21/25(a) |
15,141 | 14,927,303 | ||||||
4.41%, 04/23/39 (Call 04/23/38), |
||||||||
(3 mo. LIBOR US + 1.430%)(a)(b) |
15,393 | 13,997,855 | ||||||
4.48%, 08/23/28 |
21,180 | 20,654,611 | ||||||
4.75%, 10/21/45 (Call 04/21/45)(a) |
18,486 | 17,263,759 | ||||||
4.80%, 07/08/44 (Call 01/08/44)(a) |
18,180 | 17,067,329 | ||||||
5.15%, 05/22/45 |
21,344 | 20,196,316 | ||||||
5.95%, 01/15/27(a) |
11,268 | 11,817,760 | ||||||
6.13%, 02/15/33(a) |
14,669 | 15,816,904 | ||||||
6.25%, 02/01/41(a) |
26,987 | 30,245,902 | ||||||
6.75%, 10/01/37 |
60,488 | 66,912,225 | ||||||
HSBC Holdings PLC |
||||||||
1.59%, 05/24/27 (Call 05/24/26), |
||||||||
(SOFR + 1.290%)(b) |
21,649 | 18,841,053 | ||||||
2.01%, 09/22/28 (Call 09/22/27), |
||||||||
(SOFR + 1.732%)(b) |
21,703 | 18,339,239 | ||||||
2.21%, 08/17/29 (Call 08/17/28), |
||||||||
(SOFR + 1.285%)(b) |
22,252 | 18,436,178 | ||||||
2.25%, 11/22/27 (Call 11/22/26), |
||||||||
(SOFR + 1.100%)(a)(b) |
24,781 | 21,860,894 | ||||||
2.36%, 08/18/31 (Call 08/18/30), |
||||||||
(SOFR + 1.947%)(a)(b) |
12,951 | 10,218,655 | ||||||
2.80%, 05/24/32 (Call 05/24/31), |
||||||||
(SOFR + 1.187%)(b) |
31,170 | 24,744,682 | ||||||
2.85%, 06/04/31 (Call 06/04/30), |
||||||||
(SOFR + 2.387%)(b) |
15,974 | 13,188,826 | ||||||
2.87%, 11/22/32 (Call 11/22/31), |
||||||||
(SOFR + 1.410%)(a)(b) |
17,055 | 13,506,433 | ||||||
3.90%, 05/25/26(a) |
24,201 | 23,539,507 | ||||||
3.97%, 05/22/30 (Call 05/22/29), |
||||||||
(3 mo. LIBOR US + 1.610%)(b) |
33,127 | 29,900,841 | ||||||
4.04%, 03/13/28 (Call 03/13/27), |
||||||||
(3 mo. LIBOR US + 1.546%)(b) |
25,445 | 23,957,979 | ||||||
4.29%, 09/12/26 (Call 09/12/25), |
||||||||
(3 mo. LIBOR US + 1.348%)(b) |
23,305 | 22,652,565 | ||||||
4.30%, 03/08/26(a) |
29,441 | 29,093,225 | ||||||
4.38%, 11/23/26(a) |
14,632 | 14,288,866 | ||||||
4.58%, 06/19/29 (Call 06/19/28), |
||||||||
(3 mo. LIBOR US + 1.535%)(b) |
36,033 | 33,933,822 | ||||||
4.76%, 06/09/28 (Call 06/09/27)(b) |
27,360 | 26,379,013 | ||||||
4.95%, 03/31/30 |
26,084 | 25,330,971 | ||||||
5.21%, 08/11/28 |
1,749 | 1,707,366 | ||||||
5.25%, 03/14/44(a) |
10,735 | 9,793,159 | ||||||
5.40%, 08/11/33 |
1,430 | 1,358,344 | ||||||
6.10%, 01/14/42(a) |
8,865 | 9,608,097 | ||||||
6.50%, 05/02/36(a) |
22,878 | 23,848,567 | ||||||
6.50%, 09/15/37 |
29,588 | 30,805,733 | ||||||
6.80%, 06/01/38(a) |
17,184 | 18,384,649 | ||||||
Huntington Bancshares Inc., 4.44%, 08/04/28 |
||||||||
(Call 08/04/27)(b) |
5,430 | 5,308,076 | ||||||
Huntington
Bancshares Inc./OH, |
9,501 | 8,118,453 | ||||||
Huntington
National Bank (The), |
7,093 | 7,039,772 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
ING Groep NV |
||||||||
1.73%, 04/01/27 (Call 04/01/26), |
||||||||
(SOFR + 1.005%)(b) |
$ | 14,806 | $ | 13,124,850 | ||||
2.73%, 04/01/32 (Call 04/01/31), |
||||||||
(SOFR + 1.316%)(a)(b) |
11,713 | 9,656,461 | ||||||
3.95%, 03/29/27(a) |
14,615 | 13,997,464 | ||||||
4.02%, 03/28/28 (Call 03/28/27), |
||||||||
(SOFR + 1.830%)(b) |
13,165 | 12,480,798 | ||||||
4.05%, 04/09/29(a) |
9,917 | 9,276,345 | ||||||
4.25%, 03/28/33 (Call 03/28/32), |
||||||||
(SOFR + 2.070%)(a)(b) |
12,758 | 11,769,356 | ||||||
4.55%, 10/02/28 |
12,791 | 12,366,891 | ||||||
JPMorgan Chase & Co. |
||||||||
1.04%, 02/04/27 (Call 02/04/26), |
||||||||
(SOFR + 0.695%)(a)(b) |
18,360 | 16,188,715 | ||||||
1.05%, 11/19/26 (Call 11/19/25), |
||||||||
(SOFR + 0.800%)(a)(b) |
25,660 | 22,780,265 | ||||||
1.47%, 09/22/27 (Call 09/22/26), |
||||||||
(SOFR + 0.765%)(b) |
26,429 | 23,177,739 | ||||||
1.58%, 04/22/27 (Call 04/22/26), |
||||||||
(SOFR + 0.885%)(b) |
33,748 | 30,107,725 | ||||||
1.76%, 11/19/31 (Call 11/19/30), |
||||||||
(SOFR + 1.105%)(a)(b) |
13,442 | 10,563,424 | ||||||
1.95%, 02/04/32 (Call 02/04/31), |
||||||||
(SOFR + 1.065%)(b) |
24,904 | 19,684,298 | ||||||
2.07%, 06/01/29 (Call 06/01/28), |
||||||||
(SOFR + 1.015%)(b) |
17,702 | 15,115,014 | ||||||
2.18%, 06/01/28 (Call 06/01/27), |
||||||||
(SOFR + 1.890%)(b) |
15,181 | 13,455,975 | ||||||
2.52%, 04/22/31 (Call 04/22/30), |
||||||||
(SOFR + 2.040%)(a)(b) |
23,030 | 19,455,348 | ||||||
2.53%, 11/19/41 (Call 11/19/40), |
||||||||
(SOFR + 1.510%)(b) |
17,093 | 11,973,819 | ||||||
2.55%, 11/08/32 (Call 11/08/31), |
||||||||
(SOFR + 1.180%)(b) |
25,232 | 20,731,144 | ||||||
2.58%, 04/22/32 (Call 04/22/31), |
||||||||
(SOFR + 1.250%)(b) |
30,898 | 25,530,538 | ||||||
2.74%, 10/15/30 (Call 10/15/29), |
||||||||
(SOFR + 1.510%)(a)(b) |
34,268 | 29,730,399 | ||||||
2.95%, 10/01/26 (Call 07/01/26)(a) |
29,845 | 28,387,343 | ||||||
2.95%, 02/24/28 (Call 02/24/27), |
||||||||
(SOFR + 1.170%)(b) |
16,779 | 15,528,656 | ||||||
2.96%, 01/25/33 (Call 01/25/32), |
||||||||
(SOFR + 1.260%)(b) |
42,315 | 35,939,018 | ||||||
3.11%, 04/22/41 (Call 04/22/40), |
||||||||
(SOFR + 2.460%)(a)(b) |
17,800 | 13,724,450 | ||||||
3.11%, 04/22/51 (Call 04/22/50), |
||||||||
(SOFR + 2.440%)(b) |
23,493 | 16,896,624 | ||||||
3.16%, 04/22/42 (Call 04/22/41), |
||||||||
(SOFR + 2.460%)(b) |
21,244 | 16,347,337 | ||||||
3.20%, 06/15/26 (Call 03/15/26)(a) |
15,627 | 15,035,446 | ||||||
3.30%, 04/01/26 (Call 01/01/26)(a) |
20,684 | 20,046,910 | ||||||
3.33%, 04/22/52 (Call 04/22/51), |
||||||||
(SOFR + 1.580%)(b) |
32,924 | 24,749,073 | ||||||
3.51%, 01/23/29 (Call 01/23/28), |
||||||||
(3 mo. LIBOR US + 0.945%)(b) |
21,475 | 19,909,485 | ||||||
3.54%, 05/01/28 (Call 05/01/27), |
||||||||
(3 mo. LIBOR US + 1.380%)(a)(b) |
22,907 | 21,622,719 | ||||||
3.63%, 12/01/27 (Call 12/01/26) |
11,174 | 10,681,456 |
28 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.70%, 05/06/30 (Call 05/06/29), |
||||||||
(3 mo. LIBOR US + 1.160%)(b) |
$ | 26,031 | $ | 24,086,234 | ||||
3.78%, 02/01/28 (Call 02/01/27), |
||||||||
(3 mo. LIBOR US + 1.337%)(b) |
23,488 | 22,457,927 | ||||||
3.88%, 07/24/38 (Call 07/24/37), |
||||||||
(3 mo. LIBOR US + 1.360%)(a)(b) |
26,127 | 22,888,156 | ||||||
3.90%, 01/23/49 (Call 01/23/48), |
||||||||
(3 mo. LIBOR US + 1.220%)(b) |
17,177 | 14,305,483 | ||||||
3.96%, 01/29/27 (Call 01/29/26), |
||||||||
(3 mo. LIBOR US + 1.245%)(b) |
20,237 | 19,694,482 | ||||||
3.96%, 11/15/48 (Call 11/15/47), |
||||||||
(3 mo. LIBOR US + 1.380%)(b) |
35,098 | 29,287,807 | ||||||
4.01%, 04/23/29 (Call 04/23/28), |
||||||||
(3 mo. LIBOR US + 1.120%)(b) |
21,277 | 20,155,306 | ||||||
4.03%, 07/24/48 (Call 07/24/47), |
||||||||
(3 mo. LIBOR US + 1.460%)(b) |
15,180 | 12,954,780 | ||||||
4.13%, 12/15/26(a) |
17,164 | 16,945,082 | ||||||
4.20%, 07/23/29 (Call 07/23/28), |
||||||||
(3 mo. LIBOR US + 1.260%)(a)(b) |
22,710 | 21,734,424 | ||||||
4.25%, 10/01/27(a) |
14,730 | 14,511,033 | ||||||
4.26%, 02/22/48 (Call 02/22/47), |
||||||||
(3 mo. LIBOR US + 1.580%)(a)(b) |
19,393 | 17,199,338 | ||||||
4.32%, 04/26/28 (Call 04/26/27), |
||||||||
(SOFR + 1.560%)(b) |
31,353 | 30,625,541 | ||||||
4.45%, 12/05/29 (Call 12/05/28), |
||||||||
(3 mo. LIBOR US + 1.330%)(a)(b) |
21,964 | 21,195,939 | ||||||
4.49%, 03/24/31 (Call 03/24/30), |
||||||||
(SOFR + 3.790%)(a)(b) |
25,410 | 24,624,226 | ||||||
4.57%, 06/14/30 (Call 06/14/29)(a)(b) |
23,100 | 22,408,067 | ||||||
4.59%, 04/26/33 (Call 04/26/32), |
||||||||
(SOFR + 1.800%)(b) |
24,388 | 23,488,268 | ||||||
4.85%, 07/25/28 (Call 07/25/27)(b) |
25,307 | 25,244,155 | ||||||
4.85%, 02/01/44(a) |
10,128 | 10,016,768 | ||||||
4.91%, 07/25/33 (Call 07/25/32)(a)(b) |
15,576 | 15,449,211 | ||||||
4.95%, 06/01/45(a) |
16,792 | 15,990,479 | ||||||
5.40%, 01/06/42(a) |
12,326 | 12,561,379 | ||||||
5.50%, 10/15/40(a) |
11,011 | 11,479,090 | ||||||
5.60%, 07/15/41(a) |
17,186 | 18,087,923 | ||||||
5.63%, 08/16/43(a) |
11,414 | 11,694,281 | ||||||
6.40%, 05/15/38(a) |
24,384 | 27,638,213 | ||||||
KeyBank
N.A./Cleveland OH, |
10,600 | 10,117,697 | ||||||
KeyCorp |
||||||||
2.25%, 04/06/27(a) |
10,073 | 9,065,064 | ||||||
2.55%, 10/01/29(a) |
8,198 | 7,021,678 | ||||||
4.10%, 04/30/28(a) |
5,811 | 5,651,633 | ||||||
4.79%, 06/01/33 (Call 06/01/32)(a)(b) |
8,473 | 8,217,360 | ||||||
Lloyds Banking Group PLC |
||||||||
1.00%, 08/11/33 |
1,081 | 1,026,469 | ||||||
1.63%, 05/11/27 (Call 05/11/26)(a)(b) |
15,195 | 13,424,345 | ||||||
3.57%, 11/07/28 (Call 11/07/27), |
||||||||
(3 mo. LIBOR US + 1.205%)(b) |
24,350 | 22,515,846 | ||||||
3.75%, 01/11/27 |
16,512 | 15,731,217 | ||||||
3.75%, 03/18/28 (Call 03/18/27)(b) |
15,135 | 14,296,492 | ||||||
4.34%, 01/09/48(a) |
15,102 | 12,182,418 | ||||||
4.38%, 03/22/28 |
15,984 | 15,412,511 | ||||||
4.55%, 08/16/28 |
12,175 | 11,768,101 | ||||||
4.58%, 12/10/25 |
13,543 | 13,298,840 | ||||||
4.65%, 03/24/26(a) |
17,792 | 17,362,752 | ||||||
5.30%, 12/01/45(a) |
6,687 | 6,041,430 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Mitsubishi UFJ Financial Group Inc. |
||||||||
1.54%, 07/20/27 (Call 07/20/26)(a)(b) |
$ | 20,127 | $ | 17,771,016 | ||||
1.64%, 10/13/27 (Call 10/13/26)(a)(b) |
18,857 | 16,569,169 | ||||||
2.05%, 07/17/30(a) |
15,547 | 12,664,198 | ||||||
2.31%, 07/20/32 (Call 07/20/31)(b) |
19,223 | 15,460,350 | ||||||
2.34%, 01/19/28 (Call 01/19/27)(b) |
12,728 | 11,417,827 | ||||||
2.49%, 10/13/32 (Call 10/13/31)(b) |
8,038 | 6,539,992 | ||||||
2.56%, 02/25/30(a) |
15,047 | 12,860,493 | ||||||
2.76%, 09/13/26(a) |
10,920 | 10,186,005 | ||||||
2.85%, 01/19/33 (Call 01/19/32)(b) |
13,547 | 11,336,396 | ||||||
3.20%, 07/18/29(a) |
20,340 | 18,390,909 | ||||||
3.29%, 07/25/27(a) |
7,438 | 7,013,823 | ||||||
3.68%, 02/22/27(a) |
9,059 | 8,724,761 | ||||||
3.74%, 03/07/29 |
13,870 | 13,099,745 | ||||||
3.75%, 07/18/39(a) |
13,202 | 11,260,513 | ||||||
3.85%, 03/01/26 |
19,641 | 19,213,064 | ||||||
3.96%, 03/02/28(a) |
10,887 | 10,500,345 | ||||||
4.05%, 09/11/28(a) |
7,996 | 7,695,365 | ||||||
4.08%, 04/19/28 (Call 04/19/27)(b) |
9,077 | 8,757,195 | ||||||
5.02%, 07/20/28 (Call 07/20/27)(b) |
18,640 | 18,743,034 | ||||||
5.13%, 07/20/33 (Call 07/20/32)(b) |
21,502 | 21,574,995 | ||||||
Mizuho Financial Group Inc. |
||||||||
1.23%, 05/22/27 (Call 05/22/26)(b) |
20,993 | 18,268,871 | ||||||
1.55%, 07/09/27 (Call 07/09/26)(a)(b) |
16,271 | 14,263,476 | ||||||
1.98%, 09/08/31 (Call 09/08/30), |
||||||||
(SOFR + 1.532%)(b) |
7,809 | 6,149,590 | ||||||
2.20%, 07/10/31 (Call 07/10/30), |
||||||||
(SOFR + 1.772%)(a)(b) |
13,667 | 10,986,595 | ||||||
2.56%, 09/13/31(a) |
14,234 | 11,191,223 | ||||||
2.84%, 09/13/26(a) |
9,472 | 8,756,660 | ||||||
3.15%, 07/16/30 (Call 07/16/29), |
||||||||
(3 mo. LIBOR US + 1.130%)(a)(b) |
14,107 | 12,428,701 | ||||||
3.17%, 09/11/27 |
7,361 | 6,794,627 | ||||||
4.02%, 03/05/28(a) |
10,472 | 9,996,395 | ||||||
4.25%, 09/11/29 (Call 09/11/28), |
||||||||
(3 mo. LIBOR US + 1.270%)(b) |
9,753 | 9,225,017 | ||||||
Morgan Stanley |
||||||||
0.99%, 12/10/26 (Call 12/10/25), |
||||||||
(SOFR + 0.720%)(b) |
25,788 | 22,823,886 | ||||||
1.51%, 07/20/27 (Call 07/20/26), |
||||||||
(SOFR + 0.858%)(b) |
31,053 | 27,486,377 | ||||||
1.59%, 05/04/27 (Call 05/04/26), |
||||||||
(SOFR + 0.879%)(b) |
39,326 | 35,083,090 | ||||||
1.79%, 02/13/32 (Call 02/13/31), |
||||||||
(SOFR + 1.034%)(b) |
25,961 | 20,367,163 | ||||||
1.93%, 04/28/32 (Call 04/28/31), |
||||||||
(SOFR + 1.020%)(b) |
23,278 | 18,425,359 | ||||||
2.24%, 07/21/32 (Call 07/21/31), |
||||||||
(SOFR + 1.178%)(a)(b) |
37,653 | 30,354,060 | ||||||
2.48%, 01/21/28 (Call 01/21/27), |
||||||||
(SOFR + 1.000%)(b) |
24,002 | 21,800,779 | ||||||
2.51%, 10/20/32 (Call 10/20/31), |
||||||||
(SOFR + 1.200%)(b) |
27,358 | 22,425,498 | ||||||
2.70%, 01/22/31 (Call 01/22/30), |
||||||||
(SOFR + 1.143%)(b) |
34,533 | 29,863,700 | ||||||
2.80%, 01/25/52 (Call 01/25/51), |
||||||||
(SOFR + 1.430%)(b) |
21,503 | 14,610,293 | ||||||
2.94%, 01/21/33 (Call 01/21/32), |
||||||||
(SOFR + 1.290%)(a)(b) |
26,685 | 22,718,251 | ||||||
3.13%, 07/27/26(a) |
33,897 | 32,310,319 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.22%, 04/22/42 (Call 04/22/41), |
||||||||
(SOFR + 1.485%)(b) |
$ | 23,107 | $ | 17,990,868 | ||||
3.59%, 07/22/28 (Call 07/22/27), |
||||||||
(3 mo. LIBOR US + 1.340%)(b) |
31,539 | 29,793,547 | ||||||
3.62%, 04/01/31 (Call 04/01/30), |
||||||||
(SOFR + 3.120%)(b) |
29,651 | 27,217,963 | ||||||
3.63%, 01/20/27 |
29,473 | 28,659,899 | ||||||
3.77%, 01/24/29 (Call 01/24/28), |
||||||||
(3 mo. LIBOR US + 1.140%)(a)(b) |
29,528 | 27,850,497 | ||||||
3.88%, 01/27/26 |
28,394 | 27,957,428 | ||||||
3.95%, 04/23/27(a) |
21,142 | 20,523,309 | ||||||
3.97%, 07/22/38 (Call 07/22/37), |
||||||||
(3 mo. LIBOR US + 1.455%)(b) |
25,543 | 22,721,180 | ||||||
4.21%, 04/20/28 (Call 04/20/27), |
||||||||
(SOFR + 1.610%)(b) |
28,354 | 27,649,100 | ||||||
4.30%, 01/27/45(a) |
26,950 | 24,108,432 | ||||||
4.35%, 09/08/26 |
22,357 | 22,108,146 | ||||||
4.38%, 01/22/47 |
24,253 | 22,267,327 | ||||||
4.43%, 01/23/30 (Call 01/23/29), |
||||||||
(3 mo. LIBOR US + 1.628%)(a)(b) |
31,202 | 30,352,086 | ||||||
4.46%, 04/22/39 (Call 04/22/38), |
||||||||
(3 mo. LIBOR US + 0.408%)(a)(b) |
12,806 | 11,844,295 | ||||||
4.89%, 07/20/33 (Call 07/20/32)(b) |
19,965 | 19,860,928 | ||||||
5.00%, 11/24/25(a) |
16,342 | 16,593,410 | ||||||
5.60%, 03/24/51 (Call 03/24/50), |
||||||||
(SOFR + 4.480%)(b) |
19,858 | 21,456,984 | ||||||
6.38%, 07/24/42(a) |
22,556 | 25,677,168 | ||||||
7.25%, 04/01/32(a) |
12,544 | 14,736,731 | ||||||
National
Australia Bank Ltd., |
10,623 | 10,459,669 | ||||||
National Australia Bank Ltd./New York |
||||||||
2.50%, 07/12/26(a) |
11,034 | 10,361,293 | ||||||
3.38%, 01/14/26(a) |
4,014 | 3,904,847 | ||||||
Natwest Group PLC |
||||||||
4.89%, 05/18/29 (Call 05/18/28), |
||||||||
(3 mo. LIBOR US + 1.754%)(b) |
17,049 | 16,400,541 | ||||||
5.08%, 01/27/30 (Call 01/27/29), |
||||||||
(3 mo. LIBOR US + 1.905%)(b) |
17,932 | 17,376,587 | ||||||
NatWest Group PLC |
||||||||
1.64%, 06/14/27 (Call 06/14/26)(a)(b) |
19,890 | 17,399,261 | ||||||
3.07%, 05/22/28 (Call 05/22/27)(a)(b) |
8,414 | 7,602,657 | ||||||
4.45%, 05/08/30 (Call 05/08/29), |
||||||||
(3 mo. LIBOR US + 1.871%)(b) |
17,059 | 15,868,075 | ||||||
4.80%, 04/05/26 |
13,658 | 13,561,792 | ||||||
5.52%, 09/30/28 (Call 09/30/27)(b) |
13,009 | 13,011,332 | ||||||
Northern Trust Corp. |
||||||||
1.95%, 05/01/30 (Call 02/01/30)(a) |
5,703 | 4,824,480 | ||||||
3.95%, 10/30/25 |
1,073 | 1,068,694 | ||||||
4.00%, 05/10/27 (Call 04/10/27)(a) |
17,417 | 17,352,468 | ||||||
PNC Bank NA |
||||||||
2.70%, 10/22/29(a) |
10,364 | 9,019,194 | ||||||
3.10%, 10/25/27 (Call 09/25/27)(a) |
12,736 | 12,112,922 | ||||||
4.05%, 07/26/28 |
14,938 | 14,414,005 | ||||||
PNC Financial Services Group Inc. (The) |
||||||||
2.31%, 04/23/32 (Call 04/23/31), |
||||||||
(SOFR + 0.979%)(a)(b) |
7,229 | 6,081,252 | ||||||
2.55%, 01/22/30 (Call 10/24/29)(a) |
22,682 | 19,839,691 | ||||||
2.60%, 07/23/26 (Call 05/23/26)(a) |
11,236 | 10,617,841 | ||||||
3.15%, 05/19/27 (Call 04/19/27)(a) |
11,332 | 10,875,090 | ||||||
3.45%, 04/23/29 (Call 01/23/29)(a) |
16,493 | 15,619,198 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
Royal Bank of Canada |
||||||||
0.88%, 01/20/26 |
$ | 16,426 | $ | 14,737,149 | ||||
1.15%, 07/14/26 |
10,408 | 9,258,423 | ||||||
1.20%, 04/27/26 |
22,276 | 20,020,513 | ||||||
1.40%, 11/02/26 |
14,139 | 12,588,185 | ||||||
2.30%, 11/03/31 |
15,443 | 12,812,753 | ||||||
3.63%, 05/04/27(a) |
15,497 | 14,949,516 | ||||||
3.88%, 05/04/32(a) |
14,126 | 13,321,434 | ||||||
4.24%, 08/03/27 |
1,234 | 1,216,071 | ||||||
4.65%, 01/27/26 |
13,203 | 13,285,182 | ||||||
Santander Holdings USA Inc. |
||||||||
2.49%, 01/06/28 (Call 01/06/27), |
||||||||
(SOFR + 1.249%)(b) |
11,556 | 10,069,609 | ||||||
3.24%, 10/05/26 (Call 08/05/26)(a) |
13,035 | 12,115,185 | ||||||
4.40%, 07/13/27 (Call 04/14/27) |
14,960 | 14,425,009 | ||||||
Santander UK Group Holdings PLC |
||||||||
1.53%, 08/21/26 (Call 08/21/25)(b) |
6,517 | 5,818,844 | ||||||
1.67%, 06/14/27 (Call 06/14/26), |
||||||||
(SOFR + 0.989%)(b) |
15,328 | 13,269,909 | ||||||
2.47%, 01/11/28 (Call 01/11/27), |
||||||||
(SOFR + 1.220%)(b) |
11,271 | 9,861,561 | ||||||
3.82%, 11/03/28 (Call 11/03/27), |
||||||||
(3 mo. LIBOR US + 1.400%)(b) |
10,683 | 9,722,083 | ||||||
State Street Corp. |
||||||||
2.20%, 03/03/31(a) |
10,749 | 8,945,310 | ||||||
2.40%, 01/24/30(a) |
7,768 | 6,822,459 | ||||||
2.65%, 05/19/26(a) |
6,641 | 6,394,324 | ||||||
4.16%, 08/04/33 |
1,640 | 1,583,237 | ||||||
Sumitomo Mitsui Financial Group Inc. |
||||||||
0.95%, 01/12/26 |
11,314 | 10,074,878 | ||||||
1.40%, 09/17/26(a) |
20,221 | 17,823,321 | ||||||
1.90%, 09/17/28 |
25,583 | 21,429,446 | ||||||
2.13%, 07/08/30(a) |
17,741 | 14,496,765 | ||||||
2.14%, 09/23/30 |
10,418 | 8,288,034 | ||||||
2.22%, 09/17/31(a) |
8,449 | 6,794,934 | ||||||
2.63%, 07/14/26 |
24,096 | 22,456,347 | ||||||
2.75%, 01/15/30(a) |
12,507 | 10,794,737 | ||||||
2.93%, 09/17/41 |
8,693 | 6,304,293 | ||||||
3.01%, 10/19/26(a) |
15,410 | 14,513,643 | ||||||
3.04%, 07/16/29 |
34,283 | 30,350,428 | ||||||
3.35%, 10/18/27(a) |
5,286 | 4,949,964 | ||||||
3.36%, 07/12/27(a) |
15,872 | 15,016,252 | ||||||
3.45%, 01/11/27(a) |
11,603 | 11,056,037 | ||||||
3.54%, 01/17/28(a) |
9,255 | 8,772,218 | ||||||
3.78%, 03/09/26(a) |
15,921 | 15,550,829 | ||||||
3.94%, 07/19/28 |
10,661 | 10,179,067 | ||||||
Toronto-Dominion Bank (The) |
||||||||
0.75%, 09/11/25(a) |
8,867 | 8,004,127 | ||||||
0.75%, 01/06/26(a) |
13,591 | 12,149,992 | ||||||
1.20%, 06/03/26(a) |
10,749 | 9,615,375 | ||||||
1.25%, 09/10/26 |
22,592 | 20,061,122 | ||||||
1.95%, 01/12/27(a) |
14,055 | 12,742,094 | ||||||
2.00%, 09/10/31 |
8,250 | 6,680,290 | ||||||
2.80%, 03/10/27 |
15,078 | 14,136,973 | ||||||
3.20%, 03/10/32(a) |
16,349 | 14,522,122 | ||||||
4.11%, 06/08/27(a) |
22,606 | 22,357,083 | ||||||
4.46%, 06/08/32 |
16,457 | 16,145,907 | ||||||
Truist Bank |
||||||||
2.25%, 03/11/30 (Call 12/11/29)(a) |
13,169 | 10,972,008 | ||||||
3.30%, 05/15/26 (Call 04/15/26)(a) |
14,369 | 13,803,071 |
30 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
3.80%, 10/30/26 (Call 09/30/26)(a) |
$ | 10,318 | $ | 10,088,285 | ||||
Truist Financial Corp. |
||||||||
1.13%, 08/03/27 (Call 06/03/27)(a) |
8,169 | 7,020,316 | ||||||
1.27%, 03/02/27 (Call 03/02/26), |
||||||||
(SOFR + 0.609%)(a)(b) |
11,873 | 10,663,901 | ||||||
1.89%, 06/07/29 (Call 06/07/28), |
||||||||
(SOFR + 0.862%)(b) |
10,490 | 8,975,731 | ||||||
1.95%, 06/05/30 (Call 03/05/30)(a) |
5,994 | 4,951,134 | ||||||
4.12%, 06/06/28 (Call 06/06/27)(a)(b) |
9,789 | 9,602,196 | ||||||
4.92%, 07/28/33 (Call 07/28/32)(a)(b) |
9,080 | 8,716,259 | ||||||
U.S. Bancorp. |
||||||||
1.38%, 07/22/30 (Call 04/22/30) |
8,413 | 6,723,387 | ||||||
2.22%, 01/27/28 (Call 01/27/27), |
||||||||
(SOFR + 0.730%)(b) |
13,157 | 12,053,799 | ||||||
2.68%, 01/27/33 (Call 01/27/32), |
||||||||
(SOFR + 1.020%)(a)(b) |
12,085 | 10,374,332 | ||||||
3.00%, 07/30/29 (Call 04/30/29) |
10,633 | 9,599,791 | ||||||
3.10%, 04/27/26 (Call 03/27/26)(a) |
9,480 | 9,129,326 | ||||||
3.90%, 04/26/28 (Call 03/24/28)(a) |
9,739 | 9,575,364 | ||||||
3.95%, 11/17/25 (Call 10/17/25)(a) |
7,380 | 7,386,739 | ||||||
4.55%, 07/22/28 (Call 07/22/27)(a)(b) |
15,375 | 15,424,978 | ||||||
4.97%, 07/22/33 (Call 07/22/32)(a)(b) |
11,840 | 11,680,071 | ||||||
Series V, 2.38%, 07/22/26 (Call 06/22/26)(a) |
12,167 | 11,480,438 | ||||||
Series X, 3.15%, 04/27/27 (Call 03/27/27)(a) |
10,207 | 9,828,107 | ||||||
Wachovia Corp., 5.50%, 08/01/35 |
16,611 | 16,791,731 | ||||||
Wells Fargo & Co. |
||||||||
2.39%, 06/02/28 (Call 06/02/27), |
||||||||
(SOFR + 2.100%)(b) |
32,175 | 28,770,029 | ||||||
2.57%, 02/11/31 (Call 02/11/30), |
||||||||
(SOFR + 1.262%)(a)(b) |
27,836 | 23,608,394 | ||||||
2.88%, 10/30/30 (Call 10/30/29), |
||||||||
(SOFR + 1.432%)(a)(b) |
34,913 | 30,512,576 | ||||||
3.00%, 04/22/26 |
37,616 | 35,777,872 | ||||||
3.00%, 10/23/26 |
37,594 | 35,482,853 | ||||||
3.07%, 04/30/41 (Call 04/30/40), |
||||||||
(SOFR + 2.530%)(a)(b) |
38,684 | 29,576,053 | ||||||
3.20%, 06/17/27 (Call 06/17/26), |
||||||||
(3 mo. LIBOR US + 1.170%)(b) |
26,157 | 24,639,669 | ||||||
3.35%, 03/02/33 (Call 03/02/32), |
||||||||
(SOFR + 1.500%)(a)(b) |
40,442 | 35,163,110 | ||||||
3.53%, 03/24/28 (Call 03/24/27), |
||||||||
(SOFR + 1.510%)(b) |
40,714 | 38,480,475 | ||||||
3.55%, 09/29/25(a) |
19,083 | 18,737,535 | ||||||
3.58%, 05/22/28 (Call 05/22/27), |
||||||||
(3 mo. LIBOR US + 1.310%)(a)(b) |
31,593 | 29,796,549 | ||||||
3.90%, 05/01/45 |
21,464 | 18,000,286 | ||||||
4.10%, 06/03/26 |
24,683 | 24,161,905 | ||||||
4.15%, 01/24/29 (Call 10/24/28)(a) |
26,722 | 26,014,802 | ||||||
4.30%, 07/22/27(a) |
22,801 | 22,400,348 | ||||||
4.40%, 06/14/46(a) |
21,531 | 18,816,447 | ||||||
4.48%, 04/04/31 (Call 04/04/30), |
||||||||
(SOFR + 4.032%)(b) |
23,783 | 22,866,960 | ||||||
4.61%, 04/25/53 (Call 04/25/52)(b) |
34,697 | 31,867,921 | ||||||
4.65%, 11/04/44 |
19,293 | 17,383,207 | ||||||
4.75%, 12/07/46 |
21,326 | 19,463,161 | ||||||
4.81%, 07/25/28 (Call 07/25/27)(b) |
31,477 | 31,216,572 | ||||||
4.90%, 07/25/33 (Call 07/25/32)(b) |
48,480 | 47,730,300 | ||||||
4.90%, 11/17/45 |
21,355 | 19,739,618 | ||||||
5.01%, 04/04/51 (Call 04/04/50), |
||||||||
(SOFR + 4.502%)(b) |
61,804 | 60,291,984 |
Security |
Par (000) |
Value | ||||||
Banks (continued) | ||||||||
5.38%, 11/02/43(a) |
$ | 20,021 | $ | 19,934,611 | ||||
5.61%, 01/15/44(a) |
24,164 | 24,449,128 | ||||||
Wells Fargo Bank N.A. |
||||||||
5.85%, 02/01/37(a) |
11,786 | 12,432,793 | ||||||
6.60%, 01/15/38(a) |
15,942 | 18,238,019 | ||||||
Westpac Banking Corp. |
||||||||
1.15%, 06/03/26 |
12,048 | 10,798,977 | ||||||
1.95%, 11/20/28 |
13,299 | 11,571,828 | ||||||
2.15%, 06/03/31(a) |
10,881 | 9,132,363 | ||||||
2.65%, 01/16/30(a) |
7,427 | 6,611,323 | ||||||
2.70%, 08/19/26(a) |
10,627 | 10,048,995 | ||||||
2.85%, 05/13/26(a) |
16,124 | 15,377,073 | ||||||
2.96%, 11/16/40 |
8,738 | 6,213,368 | ||||||
3.13%, 11/18/41 |
13,483 | 9,703,938 | ||||||
3.35%, 03/08/27 |
9,996 | 9,624,197 | ||||||
3.40%, 01/25/28(a) |
8,187 | 7,831,460 | ||||||
4.04%, 08/26/27(a) |
7,567 | 7,483,565 | ||||||
4.42%, 07/24/39 |
11,009 | 9,626,107 | ||||||
5.41%, 08/10/33 |
4,000 | 3,852,233 | ||||||
|
|
|||||||
8,169,132,623 | ||||||||
Beverages — 3.1% | ||||||||
Anheuser-Busch Companies LLC/Anheuser-Busch InBev Worldwide Inc. |
||||||||
3.65%, 02/01/26 (Call 11/01/25) |
33,705 | 33,122,888 | ||||||
4.70%, 02/01/36 (Call 08/01/35) |
58,458 | 56,343,843 | ||||||
4.90%, 02/01/46 (Call 08/01/45) |
103,780 | 98,354,620 | ||||||
Anheuser-Busch InBev Finance Inc. |
||||||||
4.00%, 01/17/43(a) |
8,831 | 7,393,280 | ||||||
4.63%, 02/01/44(a) |
9,554 | 8,727,303 | ||||||
4.90%, 02/01/46 (Call 08/01/45)(a) |
15,062 | 14,297,468 | ||||||
Anheuser-Busch InBev Worldwide Inc. |
||||||||
3.50%, 06/01/30 (Call 03/01/30)(a) |
21,274 | 20,015,232 | ||||||
3.75%, 07/15/42 |
12,698 | 10,434,998 | ||||||
4.00%, 04/13/28 (Call 01/13/28)(a) |
23,617 | 23,349,608 | ||||||
4.35%, 06/01/40 (Call 12/01/39)(a) |
10,678 | 9,728,853 | ||||||
4.38%, 04/15/38 (Call 10/15/37)(a) |
14,191 | 13,066,264 | ||||||
4.44%, 10/06/48 (Call 04/06/48) |
16,631 | 14,783,056 | ||||||
4.50%, 06/01/50 (Call 12/01/49)(a) |
23,407 | 21,190,844 | ||||||
4.60%, 04/15/48 (Call 10/15/47)(a) |
26,646 | 24,115,102 | ||||||
4.60%, 06/01/60 (Call 12/01/59)(a) |
11,186 | 9,929,104 | ||||||
4.75%, 01/23/29 (Call 10/23/28) |
42,879 | 43,729,771 | ||||||
4.75%, 04/15/58 (Call 10/15/57) |
18,109 | 16,479,175 | ||||||
4.90%, 01/23/31 (Call 10/23/30)(a) |
9,538 | 9,819,244 | ||||||
4.95%, 01/15/42(a) |
14,457 | 13,949,822 | ||||||
5.45%, 01/23/39 (Call 07/23/38)(a) |
22,193 | 22,714,733 | ||||||
5.55%, 01/23/49 (Call 07/23/48)(a) |
41,509 | 42,899,273 | ||||||
5.80%, 01/23/59 (Call 07/23/58)(a) |
18,716 | 19,833,156 | ||||||
8.20%, 01/15/39 |
15,512 | 20,295,110 | ||||||
Coca-Cola Co. (The) |
||||||||
1.00%, 03/15/28(a) |
12,671 | 10,944,846 | ||||||
1.38%, 03/15/31(a) |
13,798 | 11,216,713 | ||||||
1.45%, 06/01/27(a) |
15,187 | 13,732,562 | ||||||
1.50%, 03/05/28(a) |
10,765 | 9,621,950 | ||||||
1.65%, 06/01/30(a) |
14,178 | 11,964,729 | ||||||
2.00%, 03/05/31(a) |
10,128 | 8,679,479 | ||||||
2.13%, 09/06/29(a) |
13,109 | 11,671,767 | ||||||
2.25%, 01/05/32(a) |
17,827 | 15,497,282 | ||||||
2.50%, 06/01/40(a) |
12,095 | 9,318,944 | ||||||
2.50%, 03/15/51 |
19,958 | 14,170,559 | ||||||
2.60%, 06/01/50 |
17,805 | 12,956,688 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Beverages (continued) | ||||||||
2.75%, 06/01/60(a) |
$ | 10,501 | $ | 7,438,381 | ||||
2.88%, 05/05/41(a) |
10,958 | 8,915,499 | ||||||
3.00%, 03/05/51(a) |
17,833 | 13,953,977 | ||||||
3.38%, 03/25/27(a) |
10,016 | 9,899,980 | ||||||
3.45%, 03/25/30(a) |
17,025 | 16,513,736 | ||||||
Constellation Brands Inc. |
||||||||
2.25%, 08/01/31 (Call 05/01/31)(a) |
9,266 | 7,546,152 | ||||||
3.15%, 08/01/29 (Call 05/01/29) |
12,540 | 11,279,137 | ||||||
Diageo Capital PLC |
||||||||
1.38%, 09/29/25 (Call 08/29/25) |
5,328 | 4,932,985 | ||||||
2.00%, 04/29/30 (Call 01/29/30) |
17,489 | 14,971,775 | ||||||
2.13%, 04/29/32 (Call 01/29/32)(a) |
9,777 | 8,118,764 | ||||||
2.38%, 10/24/29 (Call 07/24/29)(a) |
10,388 | 9,225,834 | ||||||
Keurig Dr Pepper Inc. |
||||||||
3.20%, 05/01/30 (Call 02/01/30)(a) |
12,092 | 10,825,437 | ||||||
3.80%, 05/01/50 (Call 11/01/49)(a) |
7,367 | 5,692,990 | ||||||
3.95%, 04/15/29 (Call 02/15/29)(a) |
14,260 | 13,490,553 | ||||||
4.05%, 04/15/32 (Call 01/15/32)(a) |
10,829 | 10,098,090 | ||||||
4.50%, 04/15/52 (Call 10/15/51) |
12,329 | 10,732,221 | ||||||
4.60%, 05/25/28 (Call 02/25/28) |
6,616 | 6,636,383 | ||||||
Molson Coors Beverage Co. |
||||||||
3.00%, 07/15/26 (Call 04/15/26) |
19,509 | 18,281,423 | ||||||
4.20%, 07/15/46 (Call 01/15/46) |
17,992 | 14,873,411 | ||||||
5.00%, 05/01/42(a) |
14,015 | 13,016,256 | ||||||
PepsiCo Inc. |
||||||||
1.40%, 02/25/31 (Call 11/25/30)(a) |
8,653 | 7,071,044 | ||||||
1.63%, 05/01/30 (Call 02/01/30) |
11,193 | 9,456,158 | ||||||
1.95%, 10/21/31 (Call 07/21/31) |
9,076 | 7,682,102 | ||||||
2.38%, 10/06/26 (Call 07/06/26) |
8,244 | 7,822,995 | ||||||
2.63%, 07/29/29 (Call 04/29/29)(a) |
12,111 | 11,098,291 | ||||||
2.63%, 10/21/41 (Call 04/21/41) |
12,312 | 9,654,537 | ||||||
2.75%, 03/19/30 (Call 12/19/29) |
16,441 | 15,055,749 | ||||||
2.75%, 10/21/51 (Call 04/21/51) |
13,818 | 10,422,988 | ||||||
2.85%, 02/24/26 (Call 11/24/25)(a) |
9,248 | 8,988,655 | ||||||
2.88%, 10/15/49 (Call 04/15/49) |
12,793 | 9,924,351 | ||||||
3.00%, 10/15/27 (Call 07/15/27) |
14,324 | 13,825,933 | ||||||
3.45%, 10/06/46 (Call 04/06/46) |
9,624 | 8,330,049 | ||||||
3.60%, 02/18/28 (Call 01/18/28)(a) |
17,825 | 17,506,218 | ||||||
3.63%, 03/19/50 (Call 09/19/49) |
11,457 | 10,189,685 | ||||||
3.90%, 07/18/32 (Call 04/18/32)(a) |
18,575 | 18,202,086 | ||||||
4.45%, 04/14/46 (Call 10/14/45) |
5,098 | 5,128,775 | ||||||
|
|
|||||||
1,071,150,866 | ||||||||
Biotechnology — 1.7% | ||||||||
Amgen Inc. |
||||||||
1.65%, 08/15/28 (Call 06/15/28)(a) |
14,046 | 12,118,678 | ||||||
2.00%, 01/15/32 (Call 10/15/31) |
13,397 | 10,881,650 | ||||||
2.20%, 02/21/27 (Call 12/21/26) |
19,127 | 17,574,829 | ||||||
2.30%, 02/25/31 (Call 11/25/30)(a) |
10,479 | 8,877,507 | ||||||
2.45%, 02/21/30 (Call 11/21/29) |
14,689 | 12,854,243 | ||||||
2.60%, 08/19/26 (Call 05/19/26)(a) |
11,517 | 10,898,372 | ||||||
2.77%, 09/01/53 (Call 03/01/53)(a) |
9,604 | 6,366,101 | ||||||
2.80%, 08/15/41 (Call 02/15/41) |
13,899 | 10,381,887 | ||||||
3.00%, 02/22/29 (Call 12/22/28) |
8,696 | 7,979,875 | ||||||
3.00%, 01/15/52 (Call 07/15/51) |
16,329 | 11,415,445 | ||||||
3.15%, 02/21/40 (Call 08/21/39) |
23,710 | 18,749,987 | ||||||
3.20%, 11/02/27 (Call 08/02/27)(a) |
10,365 | 9,904,926 | ||||||
3.35%, 02/22/32 (Call 11/22/31) |
10,076 | 9,134,457 | ||||||
3.38%, 02/21/50 (Call 08/21/49) |
23,154 | 17,546,641 | ||||||
4.05%, 08/18/29 |
18,495 | 17,943,625 | ||||||
4.20%, 03/01/33 |
15,995 | 15,411,195 |
Security |
Par (000) |
Value | ||||||
Biotechnology (continued) | ||||||||
4.20%, 02/22/52 (Call 08/22/51)(a) |
$ | 9,774 | $ | 8,518,245 | ||||
4.40%, 05/01/45 (Call 11/01/44) |
25,957 | 23,266,375 | ||||||
4.40%, 02/22/62 (Call 08/22/61) |
13,043 | 11,308,658 | ||||||
4.56%, 06/15/48 (Call 12/15/47) |
15,010 | 13,902,675 | ||||||
4.66%, 06/15/51 (Call 12/15/50)(a) |
35,803 | 33,556,659 | ||||||
4.88%, 03/01/53 |
9,489 | 9,188,613 | ||||||
Biogen Inc. |
||||||||
2.25%, 05/01/30 (Call 02/01/30)(a) |
18,767 | 15,334,319 | ||||||
3.15%, 05/01/50 (Call 11/01/49) |
17,767 | 12,104,309 | ||||||
4.05%, 09/15/25 (Call 06/15/25)(a) |
11,683 | 11,610,520 | ||||||
5.20%, 09/15/45 (Call 03/15/45)(a) |
7,710 | 7,405,254 | ||||||
Gilead Sciences Inc. |
||||||||
1.20%, 10/01/27 (Call 08/01/27) |
11,911 | 10,271,917 | ||||||
1.65%, 10/01/30 (Call 07/01/30)(a) |
16,224 | 13,187,716 | ||||||
2.60%, 10/01/40 (Call 04/01/40) |
11,641 | 8,468,859 | ||||||
2.80%, 10/01/50 (Call 04/01/50) |
15,994 | 10,907,454 | ||||||
2.95%, 03/01/27 (Call 12/01/26)(a) |
14,743 | 13,963,806 | ||||||
3.65%, 03/01/26 (Call 12/01/25)(a) |
28,216 | 27,722,248 | ||||||
4.00%, 09/01/36 (Call 03/01/36)(a) |
10,282 | 9,375,500 | ||||||
4.15%, 03/01/47 (Call 09/01/46) |
19,349 | 16,830,548 | ||||||
4.50%, 02/01/45 (Call 08/01/44) |
16,906 | 15,389,359 | ||||||
4.60%, 09/01/35 (Call 03/01/35) |
9,446 | 9,189,894 | ||||||
4.75%, 03/01/46 (Call 09/01/45) |
23,761 | 22,623,423 | ||||||
4.80%, 04/01/44 (Call 10/01/43)(a) |
18,211 | 17,305,443 | ||||||
5.65%, 12/01/41 (Call 06/01/41)(a) |
11,482 | 12,122,588 | ||||||
Regeneron Pharmaceuticals Inc. |
||||||||
1.75%, 09/15/30 (Call 06/15/30) |
19,797 | 15,760,867 | ||||||
2.80%, 09/15/50 (Call 03/15/50) |
7,660 | 5,122,899 | ||||||
Royalty Pharma PLC |
||||||||
1.20%, 09/02/25 (Call 08/02/25)(a) |
496 | 450,743 | ||||||
1.75%, 09/02/27 (Call 07/02/27)(a) |
11,393 | 9,884,005 | ||||||
2.20%, 09/02/30 (Call 06/02/30) |
12,281 | 9,987,278 | ||||||
3.30%, 09/02/40 (Call 03/02/40) |
11,463 | 8,509,944 | ||||||
3.55%, 09/02/50 (Call 03/02/50) |
10,877 | 7,486,856 | ||||||
|
|
|||||||
588,796,392 | ||||||||
Building Materials — 0.2% | ||||||||
Carrier Global Corp. |
||||||||
2.49%, 02/15/27 (Call 12/15/26)(a) |
4,820 | 4,437,289 | ||||||
2.70%, 02/15/31 (Call 11/15/30) |
9,345 | 7,946,458 | ||||||
2.72%, 02/15/30 (Call 11/15/29)(a) |
21,199 | 18,314,399 | ||||||
3.38%, 04/05/40 (Call 10/05/39)(a) |
16,858 | 13,301,230 | ||||||
3.58%, 04/05/50 (Call 10/05/49)(a) |
21,235 | 16,136,997 | ||||||
Martin Marietta Materials Inc. |
||||||||
2.40%, 07/15/31 (Call 04/15/31)(a) |
11,261 | 9,274,230 | ||||||
3.20%, 07/15/51 (Call 01/15/51) |
9,241 | 6,474,264 | ||||||
|
|
|||||||
75,884,867 | ||||||||
Chemicals — 1.0% | ||||||||
Air Products and Chemicals Inc. |
||||||||
2.05%, 05/15/30 (Call 02/15/30)(a) |
10,549 | 9,107,377 | ||||||
2.70%, 05/15/40 (Call 11/15/39)(a) |
8,052 | 6,386,656 | ||||||
2.80%, 05/15/50 (Call 11/15/49)(a) |
9,935 | 7,388,077 | ||||||
Celanese U.S. Holdings LLC |
||||||||
6.17%, 07/15/27 (Call 06/15/27) |
21,880 | 21,894,336 | ||||||
6.33%, 07/15/29 (Call 05/15/29) |
13,577 | 13,497,762 | ||||||
6.38%, 07/15/32 (Call 04/15/32)(a) |
9,457 | 9,386,217 | ||||||
CF Industries Inc. |
||||||||
4.95%, 06/01/43 |
10,185 | 9,053,201 | ||||||
5.15%, 03/15/34 |
8,170 | 7,878,971 | ||||||
5.38%, 03/15/44 |
6,675 | 6,195,711 |
32 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Chemicals (continued) | ||||||||
Dow Chemical Co. (The) |
||||||||
2.10%, 11/15/30 (Call 08/15/30)(a) |
$ | 6,320 | $ | 5,164,865 | ||||
3.60%, 11/15/50 (Call 05/15/50)(a) |
10,585 | 8,031,252 | ||||||
4.38%, 11/15/42 (Call 05/15/42)(a) |
10,689 | 9,268,771 | ||||||
5.25%, 11/15/41 (Call 05/15/41)(a) |
9,755 | 9,541,097 | ||||||
5.55%, 11/30/48 (Call 05/30/48)(a) |
8,163 | 8,219,681 | ||||||
7.38%, 11/01/29(a) |
10,666 | 12,217,956 | ||||||
DuPont de Nemours Inc. |
||||||||
4.49%, 11/15/25 (Call 09/15/25)(a) |
16,074 | 16,211,585 | ||||||
4.73%, 11/15/28 (Call 08/15/28)(a) |
22,579 | 22,769,117 | ||||||
5.32%, 11/15/38 (Call 05/15/38)(a) |
16,873 | 16,766,067 | ||||||
5.42%, 11/15/48 (Call 05/15/48)(a) |
22,645 | 22,269,134 | ||||||
Eastman Chemical Co., 4.65%, 10/15/44 |
||||||||
(Call 04/15/44)(a) |
9,052 | 7,817,690 | ||||||
Ecolab Inc. |
||||||||
2.70%, 11/01/26 (Call 08/01/26)(a) |
5,548 | 5,336,063 | ||||||
2.70%, 12/15/51 (Call 06/15/51)(a) |
8,227 | 5,809,088 | ||||||
International
Flavors & Fragrances Inc., |
5,075 | 4,669,166 | ||||||
LYB International Finance BV |
||||||||
4.88%, 03/15/44 (Call 09/15/43)(a) |
10,222 | 9,203,088 | ||||||
5.25%, 07/15/43(a) |
8,975 | 8,397,427 | ||||||
LYB International Finance III LLC |
||||||||
3.38%, 10/01/40 (Call 04/01/40)(a) |
9,891 | 7,501,853 | ||||||
3.63%, 04/01/51 (Call 10/01/50) |
10,900 | 8,039,510 | ||||||
4.20%, 10/15/49 (Call 04/15/49)(a) |
8,504 | 6,826,044 | ||||||
4.20%, 05/01/50 (Call 11/01/49) |
11,113 | 8,963,344 | ||||||
LyondellBasell
Industries NV, |
10,915 | 9,170,161 | ||||||
Nutrien Ltd. |
||||||||
4.20%, 04/01/29 (Call 01/01/29)(a) |
8,442 | 8,180,602 | ||||||
5.00%, 04/01/49 (Call 10/01/48)(a) |
8,954 | 8,821,116 | ||||||
Sherwin-Williams Co. (The) |
||||||||
2.95%, 08/15/29 (Call 05/15/29)(a) |
11,019 | 9,887,718 | ||||||
3.45%, 06/01/27 (Call 03/01/27)(a) |
13,639 | 13,033,700 | ||||||
4.50%, 06/01/47 (Call 12/01/46)(a) |
12,435 | 11,102,465 | ||||||
Westlake
Corp., 3.60%, 08/15/26 |
8,068 | 7,787,167 | ||||||
|
|
|||||||
361,794,035 | ||||||||
Commercial Services — 0.8% | ||||||||
Automatic Data Processing Inc. |
||||||||
1.25%, 09/01/30 (Call 06/01/30) |
15,220 | 12,461,253 | ||||||
1.70%, 05/15/28 (Call 03/15/28) |
11,768 | 10,546,251 | ||||||
3.38%, 09/15/25 (Call 06/15/25)(a) |
5,417 | 5,362,668 | ||||||
Equifax
Inc., 2.35%, 09/15/31 |
13,563 | 10,937,563 | ||||||
Global Payments Inc. |
||||||||
1.20%, 03/01/26 (Call 02/01/26) |
12,840 | 11,322,209 | ||||||
2.15%, 01/15/27 (Call 12/15/26)(a) |
9,484 | 8,419,365 | ||||||
2.90%, 05/15/30 (Call 02/15/30)(a) |
10,675 | 8,960,149 | ||||||
2.90%, 11/15/31 (Call 08/15/31) |
9,045 | 7,332,322 | ||||||
3.20%, 08/15/29 (Call 05/15/29)(a) |
12,039 | 10,510,730 | ||||||
4.15%, 08/15/49 (Call 02/15/49)(a) |
6,998 | 5,347,634 | ||||||
4.80%, 04/01/26 (Call 01/01/26)(a) |
8,177 | 8,106,668 | ||||||
5.40%, 08/15/32 |
3,384 | 3,314,404 | ||||||
5.95%, 08/15/52 |
4,711 | 4,572,021 | ||||||
Massachusetts
Institute of Technology, |
7,043 | 8,140,345 | ||||||
PayPal Holdings Inc. |
||||||||
2.30%, 06/01/30 (Call 03/01/30)(a) |
14,226 | 12,221,039 | ||||||
2.65%, 10/01/26 (Call 08/01/26)(a) |
15,344 | 14,562,886 | ||||||
2.85%, 10/01/29 (Call 07/01/29) |
14,613 | 13,232,390 |
Security |
Par (000) |
Value | ||||||
Commercial Services (continued) | ||||||||
3.25%, 06/01/50 (Call 12/01/49)(a) |
$ | 9,821 | $ | 7,310,581 | ||||
4.40%, 06/01/32 (Call 03/01/32)(a) |
10,672 | 10,476,065 | ||||||
5.05%, 06/01/52 (Call 12/01/51)(a) |
10,013 | 9,770,294 | ||||||
Quanta
Services Inc., 2.90%, 10/01/30 |
14,960 | 12,719,625 | ||||||
RELX Capital Inc. |
||||||||
3.00%, 05/22/30 (Call 02/22/30)(a) |
2,005 | 1,791,155 | ||||||
4.00%, 03/18/29 (Call 12/18/28)(a) |
2,434 | 2,345,619 | ||||||
S&P Global Inc. |
||||||||
2.45%, 03/01/27 (Call 02/01/27)(a)(c) |
12,111 | 11,302,763 | ||||||
2.70%, 03/01/29 (Call 01/01/29)(a)(c) |
14,128 | 12,832,248 | ||||||
2.90%, 03/01/32 (Call 12/01/31)(a)(c) |
20,227 | 17,953,429 | ||||||
3.70%, 03/01/52 (Call 09/01/51)(a)(c) |
11,509 | 9,851,166 | ||||||
4.25%, 05/01/29 (Call 02/01/29)(a)(c) |
10,888 | 10,708,761 | ||||||
|
|
|||||||
262,411,603 | ||||||||
Computers — 3.2% | ||||||||
Apple Inc. |
||||||||
0.70%, 02/08/26 (Call 01/08/26) |
22,494 | 20,328,048 | ||||||
1.25%, 08/20/30 (Call 05/20/30) |
11,984 | 9,783,712 | ||||||
1.40%, 08/05/28 (Call 06/05/28) |
15,342 | 13,344,056 | ||||||
1.65%, 05/11/30 (Call 02/11/30) |
18,008 | 15,279,721 | ||||||
1.65%, 02/08/31 (Call 11/08/30) |
26,336 | 21,904,354 | ||||||
1.70%, 08/05/31 (Call 05/05/31)(a) |
9,755 | 8,109,319 | ||||||
2.05%, 09/11/26 (Call 07/11/26) |
19,386 | 18,118,666 | ||||||
2.20%, 09/11/29 (Call 06/11/29) |
17,573 | 15,675,663 | ||||||
2.38%, 02/08/41 (Call 08/08/40)(a) |
14,110 | 10,573,537 | ||||||
2.40%, 08/20/50 (Call 02/20/50) |
17,881 | 12,405,092 | ||||||
2.45%, 08/04/26 (Call 05/04/26) |
20,006 | 19,036,257 | ||||||
2.55%, 08/20/60 (Call 02/20/60) |
16,198 | 10,862,934 | ||||||
2.65%, 05/11/50 (Call 11/11/49) |
24,927 | 18,188,561 | ||||||
2.65%, 02/08/51 (Call 08/08/50) |
28,738 | 20,915,965 | ||||||
2.70%, 08/05/51 (Call 02/05/51) |
22,750 | 16,717,071 | ||||||
2.80%, 02/08/61 (Call 08/08/60) |
16,262 | 11,412,693 | ||||||
2.85%, 08/05/61 (Call 02/05/61) |
13,624 | 9,638,518 | ||||||
2.90%, 09/12/27 (Call 06/12/27)(a) |
18,237 | 17,449,847 | ||||||
2.95%, 09/11/49 (Call 03/11/49)(a) |
15,216 | 11,825,956 | ||||||
3.00%, 06/20/27 (Call 03/20/27)(a) |
8,090 | 7,856,802 | ||||||
3.00%, 11/13/27 (Call 08/13/27) |
14,119 | 13,545,845 | ||||||
3.20%, 05/11/27 (Call 02/11/27)(a) |
18,592 | 18,124,093 | ||||||
3.25%, 02/23/26 (Call 11/23/25)(a) |
30,768 | 30,228,523 | ||||||
3.25%, 08/08/29 |
17,711 | 16,911,598 | ||||||
3.35%, 02/09/27 (Call 11/09/26)(a) |
22,374 | 22,001,131 | ||||||
3.35%, 08/08/32 |
17,111 | 16,174,329 | ||||||
3.45%, 02/09/45 |
19,633 | 16,838,786 | ||||||
3.75%, 09/12/47 (Call 03/12/47) |
9,546 | 8,553,790 | ||||||
3.75%, 11/13/47 (Call 05/13/47) |
11,637 | 10,443,251 | ||||||
3.85%, 05/04/43(a) |
30,473 | 27,858,529 | ||||||
3.85%, 08/04/46 (Call 02/04/46) |
20,042 | 18,247,574 | ||||||
3.95%, 08/08/52 |
18,664 | 17,202,114 | ||||||
4.10%, 08/08/62 |
18,714 | 17,165,628 | ||||||
4.25%, 02/09/47 (Call 08/09/46)(a) |
8,988 | 8,692,348 | ||||||
4.38%, 05/13/45 |
23,445 | 22,868,893 | ||||||
4.45%, 05/06/44(a) |
9,173 | 9,085,329 | ||||||
4.50%, 02/23/36 (Call 08/23/35)(a) |
10,670 | 11,027,693 | ||||||
4.65%, 02/23/46 (Call 08/23/45)(a) |
41,623 | 42,465,728 | ||||||
Dell International LLC/EMC Corp. |
||||||||
3.38%, 12/15/41 (Call 06/15/41)(a)(c) |
12,400 | 8,693,392 | ||||||
3.45%, 12/15/51 (Call 06/15/51)(c) |
12,510 | 8,184,668 | ||||||
4.90%, 10/01/26 (Call 08/01/26)(a) |
16,969 | 17,036,525 | ||||||
5.30%, 10/01/29 (Call 07/01/29)(a) |
16,593 | 16,454,420 | ||||||
6.02%, 06/15/26 (Call 03/15/26)(a) |
46,421 | 48,197,188 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Computers (continued) | ||||||||
6.20%, 07/15/30 (Call 04/15/30) |
$ | 8,119 | $ | 8,447,440 | ||||
8.10%, 07/15/36 (Call 01/15/36)(a) |
10,645 | 12,369,406 | ||||||
8.35%, 07/15/46 (Call 01/15/46)(a) |
7,966 | 9,626,365 | ||||||
Hewlett Packard Enterprise Co. |
||||||||
1.75%, 04/01/26 (Call 03/01/26)(a) |
8,342 | 7,646,986 | ||||||
4.90%, 10/15/25 (Call 07/15/25)(a) |
19,695 | 20,006,687 | ||||||
6.20%, 10/15/35 (Call 04/15/35)(a) |
8,259 | 8,692,195 | ||||||
6.35%, 10/15/45 (Call 04/15/45)(a) |
15,719 | 15,681,326 | ||||||
HP Inc. |
||||||||
1.45%, 06/17/26 (Call 05/17/26)(a) |
11,953 | 10,679,391 | ||||||
2.65%, 06/17/31 (Call 03/17/31) |
12,006 | 9,552,605 | ||||||
3.00%, 06/17/27 (Call 04/17/27)(a) |
9,709 | 8,991,465 | ||||||
3.40%, 06/17/30 (Call 03/17/30)(a) |
8,868 | 7,702,629 | ||||||
4.00%, 04/15/29 (Call 02/15/29)(a) |
10,292 | 9,645,268 | ||||||
4.20%, 04/15/32 (Call 01/15/32) |
11,390 | 10,037,652 | ||||||
4.75%, 01/15/28 (Call 12/15/27)(a) |
12,243 | 12,040,982 | ||||||
5.50%, 01/15/33 (Call 10/15/32)(a) |
12,023 | 11,543,569 | ||||||
6.00%, 09/15/41(a) |
13,588 | 13,129,549 | ||||||
International Business Machines Corp. |
||||||||
1.70%, 05/15/27 (Call 03/15/27)(a) |
15,328 | 13,772,053 | ||||||
1.95%, 05/15/30 (Call 02/15/30)(a) |
8,992 | 7,501,759 | ||||||
2.95%, 05/15/50 (Call 11/15/49) |
10,137 | 7,166,068 | ||||||
3.30%, 05/15/26(a) |
30,096 | 29,168,625 | ||||||
3.45%, 02/19/26(a) |
14,597 | 14,312,369 | ||||||
3.50%, 05/15/29(a) |
32,178 | 30,355,139 | ||||||
4.00%, 06/20/42 |
10,526 | 9,064,198 | ||||||
4.15%, 07/27/27 (Call 06/27/27)(a) |
13,437 | 13,360,836 | ||||||
4.15%, 05/15/39(a) |
24,020 | 21,593,384 | ||||||
4.25%, 05/15/49(a) |
32,706 | 28,814,774 | ||||||
4.40%, 07/27/32 (Call 04/27/32)(a) |
16,228 | 15,940,711 | ||||||
4.90%, 07/27/52 (Call 01/27/52)(a) |
3,260 | 3,139,788 | ||||||
Leidos Inc. |
||||||||
2.30%, 02/15/31 (Call 11/15/30)(a) |
11,574 | 9,087,237 | ||||||
4.38%, 05/15/30 (Call 02/15/30) |
7,213 | 6,665,320 | ||||||
Western Digital Corp., 4.75%, 02/15/26 |
||||||||
(Call 11/15/25)(a) |
21,538 | 20,733,618 | ||||||
|
|
|||||||
1,121,897,541 | ||||||||
Cosmetics & Personal Care — 0.6% | ||||||||
GSK Consumer Healthcare Capital U.S. LLC |
||||||||
3.38%, 03/24/27 (Call 02/24/27)(c) |
19,164 | 18,003,509 | ||||||
3.38%, 03/24/29 (Call 01/24/29)(a)(c) |
12,528 | 11,375,048 | ||||||
3.63%, 03/24/32 (Call 12/24/31)(c) |
26,762 | 23,817,059 | ||||||
4.00%, 03/24/52 (Call 09/24/51)(c) |
10,784 | 8,746,517 | ||||||
Procter & Gamble Co. (The) |
||||||||
0.55%, 10/29/25 |
6,496 | 5,905,600 | ||||||
1.00%, 04/23/26 |
7,615 | 6,978,605 | ||||||
1.20%, 10/29/30 |
17,440 | 14,203,049 | ||||||
1.90%, 02/01/27(a) |
7,591 | 7,087,568 | ||||||
1.95%, 04/23/31(a) |
7,322 | 6,322,381 | ||||||
2.30%, 02/01/32(a) |
6,457 | 5,716,349 | ||||||
2.45%, 11/03/26(a) |
11,509 | 11,019,261 | ||||||
2.85%, 08/11/27(a) |
10,590 | 10,172,212 | ||||||
3.00%, 03/25/30 |
19,588 | 18,445,156 | ||||||
Unilever Capital Corp. |
||||||||
1.75%, 08/12/31 (Call 05/12/31)(a) |
13,411 | 10,998,997 | ||||||
2.13%, 09/06/29 (Call 06/06/29)(a) |
8,101 | 7,100,551 | ||||||
2.90%, 05/05/27 (Call 02/05/27)(a) |
9,400 | 8,977,873 | ||||||
3.50%, 03/22/28 (Call 12/22/27)(a) |
11,451 | 11,168,456 |
Security |
Par (000) |
Value | ||||||
Cosmetics & Personal Care (continued) | ||||||||
5.90%, 11/15/32(a) |
$ | 11,556 | $ | 13,139,346 | ||||
|
|
|||||||
199,177,537 | ||||||||
Diversified Financial Services — 3.4% | ||||||||
AerCap
Ireland Capital DAC/AerCap Global |
||||||||
1.75%, 01/30/26 (Call 12/30/25) |
9,134 | 8,056,889 | ||||||
2.45%, 10/29/26 (Call 09/29/26) |
38,679 | 34,029,494 | ||||||
3.00%, 10/29/28 (Call 08/29/28)(a) |
38,140 | 32,449,623 | ||||||
3.30%, 01/30/32 (Call 10/30/31)(a) |
40,072 | 32,332,971 | ||||||
3.40%, 10/29/33 (Call 07/29/33)(a) |
17,835 | 13,968,771 | ||||||
3.65%, 07/21/27 (Call 04/21/27) |
11,476 | 10,457,422 | ||||||
3.85%, 10/29/41 (Call 04/29/41)(a) |
17,677 | 13,002,559 | ||||||
Air Lease Corp. |
||||||||
1.88%, 08/15/26 (Call 07/15/26) |
15,957 | 13,967,805 | ||||||
2.20%, 01/15/27 (Call 12/15/26)(a) |
10,876 | 9,565,479 | ||||||
2.88%, 01/15/26 (Call 12/15/25)(a) |
13,628 | 12,569,118 | ||||||
2.88%, 01/15/32 (Call 10/15/31)(a) |
7,399 | 5,936,737 | ||||||
3.13%, 12/01/30 (Call 09/01/30)(a) |
8,409 | 7,041,768 | ||||||
3.75%, 06/01/26 (Call 04/01/26)(a) |
13,049 | 12,314,643 | ||||||
Ally Financial Inc. |
||||||||
2.20%, 11/02/28 (Call 09/02/28)(a) |
12,937 | 10,716,752 | ||||||
4.75%, 06/09/27 (Call 05/09/27)(a) |
7,987 | 7,805,376 | ||||||
8.00%, 11/01/31 |
22,134 | 24,720,801 | ||||||
American Express Co. |
||||||||
1.65%, 11/04/26 (Call 10/04/26)(a) |
12,089 | 10,914,662 | ||||||
2.55%, 03/04/27 (Call 02/01/27) |
25,204 | 23,405,006 | ||||||
3.13%, 05/20/26 (Call 04/20/26) |
16,339 | 15,763,486 | ||||||
3.30%, 05/03/27 (Call 04/03/27)(a) |
7,688 | 7,354,728 | ||||||
4.05%, 05/03/29 (Call 03/03/29) |
11,888 | 11,547,504 | ||||||
4.05%, 12/03/42(a) |
8,762 | 7,942,857 | ||||||
4.20%, 11/06/25 (Call 10/06/25)(a) |
8,442 | 8,461,433 | ||||||
4.42%, 08/03/33 (Call 08/03/32)(b) |
13,620 | 13,153,243 | ||||||
Blackstone Private Credit Fund |
||||||||
2.63%, 12/15/26 |
15,820 | 13,353,792 | ||||||
3.25%, 03/15/27 |
14,334 | 12,309,417 | ||||||
Brookfield Finance Inc. |
||||||||
3.50%, 03/30/51 (Call 09/30/50) |
8,432 | 6,105,771 | ||||||
3.90%, 01/25/28 (Call 10/25/27) |
13,605 | 12,867,212 | ||||||
4.35%, 04/15/30 (Call 01/15/30) |
8,829 | 8,345,748 | ||||||
4.70%, 09/20/47 (Call 03/20/47)(a) |
9,832 | 8,549,584 | ||||||
4.85%, 03/29/29 (Call 12/29/28)(a) |
12,328 | 12,098,583 | ||||||
Capital One Financial Corp. |
||||||||
3.65%, 05/11/27 (Call 04/11/27)(a) |
7,359 | 7,037,099 | ||||||
3.75%, 07/28/26 (Call 06/28/26)(a) |
16,451 | 15,846,271 | ||||||
3.75%, 03/09/27 (Call 02/09/27) |
13,011 | 12,515,135 | ||||||
3.80%, 01/31/28 (Call 12/31/27)(a) |
14,184 | 13,412,915 | ||||||
4.20%, 10/29/25 (Call 09/29/25)(a) |
11,782 | 11,632,158 | ||||||
5.25%, 07/26/30 (Call 07/26/29)(b) |
15,000 | 14,746,206 | ||||||
Charles Schwab Corp. (The) |
||||||||
0.90%, 03/11/26 (Call 02/11/26)(a) |
17,074 | 15,364,220 | ||||||
1.15%, 05/13/26 (Call 04/13/26)(a) |
6,648 | 5,994,159 | ||||||
1.65%, 03/11/31 (Call 12/11/30)(a) |
6,721 | 5,423,977 | ||||||
1.95%, 12/01/31 (Call 09/01/31)(a) |
7,293 | 5,954,760 | ||||||
2.00%, 03/20/28 (Call 01/20/28)(a) |
19,157 | 17,201,827 | ||||||
2.30%, 05/13/31 (Call 02/13/31)(a) |
9,935 | 8,422,715 | ||||||
2.45%, 03/03/27 (Call 02/03/27)(a) |
13,255 | 12,376,765 | ||||||
2.90%, 03/03/32 (Call 12/03/31) |
15,096 | 13,328,207 | ||||||
CME Group Inc. |
||||||||
2.65%, 03/15/32 (Call 12/15/31)(a) |
10,974 | 9,646,709 | ||||||
5.30%, 09/15/43 (Call 03/15/43)(a) |
10,219 | 11,194,769 |
34 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Diversified Financial Services (continued) | ||||||||
Discover
Financial Services, 4.10%, 02/09/27 |
$ | 14,227 | $ | 13,672,463 | ||||
Intercontinental Exchange Inc. |
||||||||
1.85%, 09/15/32 (Call 06/15/32)(a) |
16,700 | 13,165,998 | ||||||
2.10%, 06/15/30 (Call 03/15/30)(a) |
15,143 | 12,798,626 | ||||||
2.65%, 09/15/40 (Call 03/15/40)(a) |
8,971 | 6,600,986 | ||||||
3.00%, 06/15/50 (Call 12/15/49) |
12,801 | 9,317,861 | ||||||
3.00%, 09/15/60 (Call 03/15/60) |
13,939 | 9,424,144 | ||||||
3.75%, 12/01/25 (Call 09/01/25)(a) |
13,889 | 13,753,441 | ||||||
4.00%, 09/15/27 (Call 08/15/27)(a) |
23,399 | 23,038,082 | ||||||
4.25%, 09/21/48 (Call 03/21/48) |
13,750 | 12,281,120 | ||||||
4.35%, 06/15/29 (Call 04/15/29)(a) |
18,701 | 18,455,179 | ||||||
4.60%, 03/15/33 (Call 12/15/32) |
17,608 | 17,431,823 | ||||||
4.95%, 06/15/52 (Call 12/15/51)(a) |
15,791 | 15,507,921 | ||||||
5.20%, 06/15/62 (Call 12/15/61)(a) |
12,054 | 11,798,030 | ||||||
Jefferies Group LLC/Jefferies Group Capital |
||||||||
Finance Inc. |
||||||||
2.63%, 10/15/31 (Call 07/15/31)(a) |
8,367 | 6,504,977 | ||||||
4.15%, 01/23/30 |
15,235 | 13,733,592 | ||||||
4.85%, 01/15/27 |
11,669 | 11,601,044 | ||||||
Mastercard Inc. |
||||||||
2.00%, 11/18/31 (Call 08/18/31) |
9,800 | 8,262,660 | ||||||
2.95%, 11/21/26 (Call 08/21/26)(a) |
7,759 | 7,511,693 | ||||||
2.95%, 06/01/29 (Call 03/01/29) |
11,727 | 10,948,731 | ||||||
3.30%, 03/26/27 (Call 01/26/27)(a) |
12,556 | 12,299,104 | ||||||
3.35%, 03/26/30 (Call 12/26/29)(a) |
21,171 | 20,108,273 | ||||||
3.65%, 06/01/49 (Call 12/01/48)(a) |
9,492 | 8,350,278 | ||||||
3.85%, 03/26/50 (Call 09/26/49)(a) |
16,317 | 14,756,387 | ||||||
Nomura Holdings Inc. |
||||||||
1.65%, 07/14/26(a) |
12,687 | 11,175,595 | ||||||
2.17%, 07/14/28 |
11,078 | 9,288,274 | ||||||
2.33%, 01/22/27(a) |
16,209 | 14,442,866 | ||||||
2.61%, 07/14/31(a) |
12,238 | 9,726,440 | ||||||
2.68%, 07/16/30 |
13,638 | 11,122,607 | ||||||
3.00%, 01/22/32(a) |
7,979 | 6,551,457 | ||||||
3.10%, 01/16/30(a) |
13,719 | 11,633,546 | ||||||
Raymond James Financial Inc. |
||||||||
3.75%, 04/01/51 (Call 10/01/50)(a) |
8,923 | 7,284,885 | ||||||
4.95%, 07/15/46 |
7,333 | 7,103,938 | ||||||
Synchrony Financial |
||||||||
2.88%, 10/28/31 (Call 07/28/31)(a) |
7,883 | 6,041,068 | ||||||
3.95%, 12/01/27 (Call 09/01/27)(a) |
11,861 | 10,794,198 | ||||||
Visa Inc. |
||||||||
1.10%, 02/15/31 (Call 11/15/30)(a) |
9,262 | 7,401,555 | ||||||
1.90%, 04/15/27 (Call 02/15/27)(a) |
18,019 | 16,618,834 | ||||||
2.00%, 08/15/50 (Call 02/15/50) |
17,650 | 11,406,484 | ||||||
2.05%, 04/15/30 (Call 01/15/30)(a) |
18,282 | 16,036,416 | ||||||
2.70%, 04/15/40 (Call 10/15/39)(a) |
8,729 | 6,991,170 | ||||||
2.75%, 09/15/27 (Call 06/15/27) |
10,559 | 10,063,658 | ||||||
3.15%, 12/14/25 (Call 09/14/25)(a) |
37,358 | 36,547,294 | ||||||
3.65%, 09/15/47 (Call 03/15/47) |
8,059 | 7,074,489 | ||||||
4.15%, 12/14/35 (Call 06/14/35)(a) |
16,442 | 16,258,483 | ||||||
4.30%, 12/14/45 (Call 06/14/45)(a) |
39,894 | 38,578,747 | ||||||
|
|
|||||||
1,164,671,543 | ||||||||
Electric — 2.8% | ||||||||
AES Corp. (The) |
||||||||
1.38%, 01/15/26 (Call 12/15/25) |
8,312 | 7,385,872 | ||||||
2.45%, 01/15/31 (Call 10/15/30)(a) |
10,748 | 8,861,155 | ||||||
Ameren
Corp., 3.50%, 01/15/31 |
6,495 | 5,898,579 | ||||||
Avangrid
Inc., 3.80%, 06/01/29 |
9,290 | 8,637,583 |
Security |
Par |
Value | ||||||
Electric (continued) | ||||||||
Berkshire Hathaway Energy Co. |
||||||||
2.85%, 05/15/51 (Call 11/15/50) |
$ | 12,767 | $ | 9,090,320 | ||||
3.70%, 07/15/30 (Call 04/15/30) |
11,373 | 10,848,349 | ||||||
3.80%, 07/15/48 (Call 01/15/48) |
12,170 | 10,240,394 | ||||||
4.25%, 10/15/50 (Call 04/15/50)(a) |
7,955 | 7,254,403 | ||||||
4.45%, 01/15/49 (Call 07/15/48)(a) |
11,089 | 10,269,307 | ||||||
4.50%, 02/01/45 (Call 08/01/44) |
10,002 | 9,325,010 | ||||||
4.60%, 05/01/53 (Call 11/01/52)(a)(c) |
15,071 | 14,301,849 | ||||||
5.15%, 11/15/43 (Call 05/15/43)(a) |
6,755 | 6,843,169 | ||||||
6.13%, 04/01/36(a) |
16,378 | 17,978,042 | ||||||
Commonwealth Edison Co., 4.00%, 03/01/48 |
||||||||
(Call 09/01/47)(a) |
5,195 | 4,650,088 | ||||||
Connecticut
Light & Power Co. (The), |
7,762 | 7,035,757 | ||||||
Consolidated Edison Co. of New York Inc. |
||||||||
2.40%, 06/15/31 (Call 03/15/31)(a) |
8,357 | 7,145,561 | ||||||
3.60%, 06/15/61 (Call 12/15/60)(a) |
9,089 | 7,101,359 | ||||||
4.45%, 03/15/44 (Call 09/15/43) |
10,436 | 9,548,147 | ||||||
4.63%, 12/01/54 (Call 06/01/54)(a) |
8,222 | 7,657,518 | ||||||
Series
20B, 3.95%, 04/01/50 |
8,058 | 6,926,036 | ||||||
Constellation Energy Generation LLC |
||||||||
5.60%, 06/15/42 (Call 12/15/41) |
3,892 | 3,843,689 | ||||||
6.25%, 10/01/39(a) |
16,796 | 17,834,597 | ||||||
Dominion Energy Inc. |
||||||||
3.90%, 10/01/25 (Call 07/01/25)(a) |
2,869 | 2,830,157 | ||||||
Series C, 2.25%, 08/15/31 (Call 05/15/31)(a) |
10,458 | 8,635,667 | ||||||
Series C, 3.38%, 04/01/30 (Call 01/01/30)(a) |
14,457 | 13,164,151 | ||||||
Duke Energy Carolinas LLC |
||||||||
3.20%, 08/15/49 (Call 02/15/49)(a) |
4,971 | 3,866,262 | ||||||
5.30%, 02/15/40 |
9,078 | 9,411,981 | ||||||
Duke Energy Corp. |
||||||||
2.45%, 06/01/30 (Call 03/01/30)(a) |
10,842 | 9,154,811 | ||||||
2.55%, 06/15/31 (Call 03/15/31)(a) |
10,955 | 9,253,697 | ||||||
2.65%, 09/01/26 (Call 06/01/26) |
14,992 | 14,013,730 | ||||||
3.15%, 08/15/27 (Call 05/15/27)(a) |
4,063 | 3,834,912 | ||||||
3.30%, 06/15/41 (Call 12/15/40)(a) |
9,789 | 7,547,804 | ||||||
3.50%, 06/15/51 (Call 12/15/50) |
5,828 | 4,374,518 | ||||||
3.75%, 09/01/46 (Call 03/01/46) |
14,633 | 11,531,855 | ||||||
4.30%, 03/15/28 |
4,654 | 4,555,879 | ||||||
4.50%, 08/15/32 |
16,365 | 15,741,063 | ||||||
5.00%, 08/15/52 |
10,561 | 9,999,913 | ||||||
Duke Energy Florida LLC, 6.40%, 06/15/38(a) |
9,899 | 11,458,596 | ||||||
Emera U.S. Finance LP |
||||||||
3.55%, 06/15/26 (Call 03/15/26) |
8,024 | 7,670,483 | ||||||
4.75%, 06/15/46 (Call 12/15/45) |
13,506 | 11,732,379 | ||||||
Entergy Corp. |
||||||||
0.90%, 09/15/25 (Call 08/15/25)(a) |
3,161 | 2,839,524 | ||||||
2.95%, 09/01/26 (Call 06/01/26)(a) |
13,484 | 12,714,712 | ||||||
Entergy Louisiana LLC, 4.20%, 09/01/48 |
||||||||
(Call 03/01/48) |
8,563 | 7,671,369 | ||||||
Evergy Inc., 2.90%, 09/15/29 (Call 06/15/29) |
8,020 | 6,995,267 | ||||||
Exelon Corp. |
||||||||
3.40%, 04/15/26 (Call 01/15/26) |
10,460 | 10,156,733 | ||||||
4.05%, 04/15/30 (Call 01/15/30)(a) |
13,425 | 12,841,003 | ||||||
4.45%, 04/15/46 (Call 10/15/45) |
10,451 | 9,368,412 | ||||||
4.70%, 04/15/50 (Call 10/15/49)(a) |
7,954 | 7,423,732 | ||||||
Florida Power & Light Co. |
||||||||
2.45%, 02/03/32 (Call 11/03/31) |
14,896 | 12,912,096 | ||||||
2.88%, 12/04/51 (Call 06/04/51) |
10,528 | 7,818,681 | ||||||
3.15%, 10/01/49 (Call 04/01/49)(a) |
7,962 | 6,271,440 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Electric (continued) | ||||||||
3.95%, 03/01/48 (Call 09/01/47) |
$ | 9,947 | $ | 9,033,479 | ||||
Georgia Power Co. |
||||||||
4.30%, 03/15/42 |
12,811 | 11,346,645 | ||||||
5.13%, 05/15/52 (Call 11/15/51)(a) |
9,445 | 9,447,902 | ||||||
Series A, 3.25%, 03/15/51 (Call 09/15/50) |
8,188 | 6,011,365 | ||||||
MidAmerican Energy Co. |
||||||||
3.65%, 04/15/29 (Call 01/15/29)(a) |
7,381 | 7,159,443 | ||||||
4.25%, 07/15/49 (Call 01/15/49) |
9,223 | 8,566,478 | ||||||
NextEra Energy Capital Holdings Inc. |
||||||||
1.88%, 01/15/27 (Call 12/15/26) |
14,751 | 13,250,770 | ||||||
1.90%, 06/15/28 (Call 04/15/28) |
14,094 | 12,207,976 | ||||||
2.25%, 06/01/30 (Call 03/01/30) |
18,870 | 15,900,115 | ||||||
2.44%, 01/15/32 (Call 10/15/31)(a) |
13,135 | 10,936,231 | ||||||
2.75%, 11/01/29 (Call 08/01/29) |
8,439 | 7,501,339 | ||||||
3.55%, 05/01/27 (Call 02/01/27)(a) |
18,910 | 18,205,281 | ||||||
4.63%, 07/15/27 (Call 06/15/27) |
18,408 | 18,483,688 | ||||||
5.00%, 07/15/32 (Call 04/15/32) |
11,698 | 11,864,832 | ||||||
Pacific Gas and Electric Co. |
||||||||
2.10%, 08/01/27 (Call 06/01/27)(a) |
7,303 | 6,175,753 | ||||||
2.50%, 02/01/31 (Call 11/01/30) |
18,270 | 13,976,510 | ||||||
3.00%, 06/15/28 (Call 04/15/28)(a) |
7,816 | 6,697,394 | ||||||
3.15%, 01/01/26 |
14,847 | 13,753,895 | ||||||
3.25%, 06/01/31 (Call 03/01/31) |
10,493 | 8,479,091 | ||||||
3.30%, 12/01/27 (Call 09/01/27) |
11,828 | 10,411,593 | ||||||
3.30%, 08/01/40 (Call 02/01/40)(a) |
10,611 | 7,487,312 | ||||||
3.50%, 08/01/50 (Call 02/01/50)(a) |
20,012 | 13,296,469 | ||||||
3.75%, 07/01/28(a) |
8,645 | 7,655,888 | ||||||
3.95%, 12/01/47 (Call 06/01/47)(a) |
8,283 | 5,663,408 | ||||||
4.50%, 07/01/40 (Call 01/01/40) |
19,321 | 15,022,869 | ||||||
4.55%, 07/01/30 (Call 01/01/30)(a) |
30,874 | 27,460,667 | ||||||
4.95%, 07/01/50 (Call 01/01/50)(a) |
33,193 | 26,494,865 | ||||||
PacifiCorp, 2.90%, 06/15/52 (Call 12/15/51)(a) |
11,032 | 7,929,962 | ||||||
Public Service Co. of Colorado, 1.88%, 06/15/31 (Call 12/15/30)(a) |
4,380 | 3,652,600 | ||||||
Public Service Enterprise Group Inc., 2.45%, 11/15/31 (Call 08/15/31)(a) |
7,929 | 6,604,514 | ||||||
San Diego Gas & Electric Co. |
||||||||
Series VVV, 1.70%, 10/01/30 (Call 07/01/30) |
5,561 | 4,573,309 | ||||||
Series WWW, 2.95%, 08/15/51 (Call 02/15/51) |
11,256 | 8,298,530 | ||||||
Sempra Energy |
||||||||
3.25%, 06/15/27 (Call 03/15/27)(a) |
11,267 | 10,674,920 | ||||||
3.40%, 02/01/28 (Call 11/01/27)(a) |
11,206 | 10,598,931 | ||||||
3.80%, 02/01/38 (Call 08/01/37) |
9,355 | 7,987,325 | ||||||
4.00%, 02/01/48 (Call 08/01/47)(a) |
7,435 | 6,218,525 | ||||||
6.00%, 10/15/39(a) |
6,577 | 7,038,346 | ||||||
Southern California Edison Co. |
||||||||
3.65%, 02/01/50 (Call 08/01/49)(a) |
13,767 | 10,545,486 | ||||||
4.00%, 04/01/47 (Call 10/01/46) |
19,194 | 15,542,238 | ||||||
4.65%, 10/01/43 (Call 04/01/43)(a) |
8,294 | 7,496,152 | ||||||
Series 20A, 2.95%, 02/01/51 (Call 08/01/50)(a) |
7,626 | 5,142,672 | ||||||
Series C, 4.13%, 03/01/48 (Call 09/01/47)(a) |
12,842 | 10,683,898 | ||||||
Southern Co. (The) |
||||||||
3.25%, 07/01/26 (Call 04/01/26)(a) |
20,730 | 19,811,284 | ||||||
4.40%, 07/01/46 (Call 01/01/46)(a) |
19,804 | 17,439,694 | ||||||
Series A, 3.70%, 04/30/30 (Call 01/30/30)(a) |
9,799 | 9,172,178 | ||||||
Series B, 4.00%, 01/15/51 (Call 10/15/25)(a)(b) |
11,259 | 10,425,158 | ||||||
Virginia Electric & Power Co. |
||||||||
2.45%, 12/15/50 (Call 06/15/50)(a) |
9,552 | 6,403,474 | ||||||
2.95%, 11/15/51 (Call 05/15/51) |
9,143 | 6,758,368 | ||||||
Series A, 3.15%, 01/15/26 (Call 10/15/25)(a) |
10,772 | 10,460,604 |
Security |
Par |
Value | ||||||
Electric (continued) | ||||||||
Series A, 3.50%, 03/15/27 (Call 12/15/26) |
$ | 9,890 | $ | 9,622,757 | ||||
|
|
|||||||
990,039,794 | ||||||||
Electrical Components & Equipment — 0.1% | ||||||||
Emerson Electric Co. |
||||||||
0.88%, 10/15/26 (Call 09/15/26)(a) |
6,737 | 6,018,194 | ||||||
2.00%, 12/21/28 (Call 10/21/28)(a) |
10,597 | 9,456,192 | ||||||
2.20%, 12/21/31 (Call 09/21/31)(a) |
7,003 | 5,949,201 | ||||||
2.80%, 12/21/51 (Call 06/21/51) |
12,402 | 9,008,504 | ||||||
|
|
|||||||
30,432,091 | ||||||||
Electronics — 0.2% | ||||||||
Amphenol Corp. |
||||||||
2.20%, 09/15/31 (Call 06/15/31)(a) |
9,168 | 7,564,153 | ||||||
2.80%, 02/15/30 (Call 11/15/29)(a) |
9,300 | 8,124,958 | ||||||
Honeywell International Inc. |
||||||||
1.10%, 03/01/27 (Call 02/01/27)(a) |
11,031 | 9,853,758 | ||||||
1.75%, 09/01/31 (Call 06/01/31)(a) |
12,811 | 10,597,048 | ||||||
1.95%, 06/01/30 (Call 03/01/30) |
12,563 | 10,806,327 | ||||||
2.50%, 11/01/26 (Call 08/01/26)(a) |
14,095 | 13,380,343 | ||||||
2.70%, 08/15/29 (Call 05/15/29)(a) |
9,881 | 9,073,425 | ||||||
2.80%, 06/01/50 (Call 12/01/49)(a) |
7,162 | 5,513,827 | ||||||
|
|
|||||||
74,913,839 | ||||||||
Entertainment — 0.6% | ||||||||
Magallanes Inc. |
||||||||
3.76%, 03/15/27 (Call 02/15/27)(a)(c) |
41,230 | 38,512,250 | ||||||
4.05%, 03/15/29 (Call 01/15/29)(c) |
14,509 | 13,160,351 | ||||||
4.28%, 03/15/32 (Call 12/15/31)(a)(c) |
48,149 | 41,833,657 | ||||||
5.05%, 03/15/42 (Call 09/15/41)(c) |
50,797 | 41,457,926 | ||||||
5.14%, 03/15/52 (Call 09/15/51)(c) |
75,992 | 60,797,856 | ||||||
5.39%, 03/15/62 (Call 09/15/61)(c) |
29,421 | 23,584,435 | ||||||
|
|
|||||||
219,346,475 | ||||||||
Environmental Control — 0.1% | ||||||||
Republic Services Inc. |
||||||||
1.75%, 02/15/32 (Call 11/15/31)(a) |
10,877 | 8,566,454 | ||||||
3.95%, 05/15/28 (Call 02/15/28)(a) |
6,679 | 6,537,161 | ||||||
Waste Connections Inc. |
||||||||
2.95%, 01/15/52 (Call 07/15/51) |
9,056 | 6,516,421 | ||||||
4.20%, 01/15/33 |
390 | 375,214 | ||||||
Waste Management Inc. |
||||||||
1.50%, 03/15/31 (Call 12/15/30)(a) |
7,389 | 5,912,454 | ||||||
3.15%, 11/15/27 (Call 08/15/27)(a) |
8,806 | 8,402,119 | ||||||
4.15%, 04/15/32 (Call 01/15/32)(a) |
8,638 | 8,436,842 | ||||||
|
|
|||||||
44,746,665 | ||||||||
Food — 1.3% | ||||||||
Campbell Soup Co., 4.15%, 03/15/28 (Call 12/15/27)(a) |
11,320 | 11,123,194 | ||||||
Conagra Brands Inc. |
||||||||
1.38%, 11/01/27 (Call 09/01/27)(a) |
12,715 | 10,638,886 | ||||||
4.60%, 11/01/25 (Call 09/01/25) |
7,729 | 7,722,415 | ||||||
4.85%, 11/01/28 (Call 08/01/28)(a) |
18,725 | 18,533,578 | ||||||
5.30%, 11/01/38 (Call 05/01/38) |
9,268 | 8,826,796 | ||||||
5.40%, 11/01/48 (Call 05/01/48)(a) |
11,702 | 11,083,362 | ||||||
General Mills Inc. |
||||||||
2.88%, 04/15/30 (Call 01/15/30)(a) |
10,386 | 9,284,968 | ||||||
3.20%, 02/10/27 (Call 11/10/26)(a) |
8,455 | 8,114,996 | ||||||
4.20%, 04/17/28 (Call 01/17/28)(a) |
14,164 | 14,067,634 | ||||||
Hormel Foods Corp. |
||||||||
1.70%, 06/03/28 (Call 04/03/28)(a) |
5,208 | 4,636,572 | ||||||
1.80%, 06/11/30 (Call 03/11/30)(a) |
9,309 | 7,886,950 | ||||||
Kellogg Co., 3.25%, 04/01/26(a) |
13,373 | 12,981,519 |
36 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Food (continued) | ||||||||
Kraft Heinz Foods Co. |
||||||||
3.00%, 06/01/26 (Call 03/01/26)(a) |
$ | 21,272 | $ | 20,123,620 | ||||
3.88%, 05/15/27 (Call 02/15/27)(a) |
12,952 | 12,542,587 | ||||||
4.38%, 06/01/46 (Call 12/01/45)(a) |
29,415 | 25,006,047 | ||||||
4.88%, 10/01/49 (Call 04/01/49)(a) |
13,929 | 12,620,008 | ||||||
5.00%, 06/04/42(a) |
16,072 | 14,827,479 | ||||||
5.20%, 07/15/45 (Call 01/15/45)(a) |
19,886 | 18,599,068 | ||||||
5.50%, 06/01/50 (Call 12/01/49)(a) |
8,755 | 8,641,185 | ||||||
6.88%, 01/26/39 |
9,478 | 10,383,552 | ||||||
Kroger Co. (The) |
||||||||
2.65%, 10/15/26 (Call 07/15/26)(a) |
9,223 | 8,698,550 | ||||||
3.95%, 01/15/50 (Call 07/15/49)(a) |
10,215 | 8,684,114 | ||||||
4.45%, 02/01/47 (Call 08/01/46)(a) |
8,896 | 8,095,869 | ||||||
McCormick & Co. Inc./MD, 3.40%, 08/15/27 (Call 05/15/27)(a) |
11,285 | 10,852,465 | ||||||
Mondelez International Inc. |
||||||||
2.63%, 03/17/27 (Call 02/17/27) |
11,874 | 11,078,916 | ||||||
2.63%, 09/04/50 (Call 03/04/50) |
10,708 | 7,156,933 | ||||||
2.75%, 04/13/30 (Call 01/13/30)(a) |
14,047 | 12,427,032 | ||||||
3.00%, 03/17/32 (Call 12/17/31)(a) |
6,650 | 5,831,432 | ||||||
Sysco Corp. |
||||||||
3.15%, 12/14/51 (Call 06/14/51)(a) |
9,284 | 6,691,119 | ||||||
3.25%, 07/15/27 (Call 04/15/27)(a) |
8,392 | 7,954,569 | ||||||
3.30%, 07/15/26 (Call 04/15/26)(a) |
10,684 | 10,339,535 | ||||||
3.75%, 10/01/25 (Call 07/01/25)(a) |
6,717 | 6,649,226 | ||||||
5.95%, 04/01/30 (Call 01/01/30)(a) |
14,515 | 15,528,037 | ||||||
6.60%, 04/01/50 (Call 10/01/49)(a) |
12,372 | 14,354,211 | ||||||
Tyson Foods Inc. |
||||||||
3.55%, 06/02/27 (Call 03/02/27) |
15,213 | 14,609,651 | ||||||
4.00%, 03/01/26 (Call 01/01/26)(a) |
14,839 | 14,666,629 | ||||||
4.35%, 03/01/29 (Call 12/01/28)(a) |
12,281 | 12,131,957 | ||||||
4.55%, 06/02/47 (Call 12/02/46)(a) |
6,827 | 6,252,354 | ||||||
5.10%, 09/28/48 (Call 03/28/48)(a) |
18,012 | 17,832,602 | ||||||
|
|
|||||||
447,479,617 | ||||||||
Gas — 0.2% | ||||||||
Atmos Energy Corp., 4.13%, 10/15/44 (Call 04/15/44)(a) |
5,323 | 4,688,395 | ||||||
NiSource Inc. |
||||||||
1.70%, 02/15/31 (Call 11/15/30)(a) |
11,990 | 9,395,892 | ||||||
2.95%, 09/01/29 (Call 06/01/29)(a) |
8,333 | 7,430,639 | ||||||
3.49%, 05/15/27 (Call 02/15/27)(a) |
11,761 | 11,262,659 | ||||||
3.60%, 05/01/30 (Call 02/01/30)(a) |
9,339 | 8,590,755 | ||||||
3.95%, 03/30/48 (Call 09/30/47)(a) |
8,481 | 6,982,940 | ||||||
4.38%, 05/15/47 (Call 11/15/46)(a) |
9,603 | 8,469,553 | ||||||
4.80%, 02/15/44 (Call 08/15/43) |
7,588 | 6,953,224 | ||||||
|
|
|||||||
63,774,057 | ||||||||
Hand & Machine Tools — 0.0% | ||||||||
Stanley Black & Decker Inc. |
||||||||
2.30%, 03/15/30 (Call 12/15/29)(a) |
9,514 | 8,121,995 | ||||||
2.75%, 11/15/50 (Call 05/15/50)(a) |
7,567 | 5,150,727 | ||||||
|
|
|||||||
13,272,722 | ||||||||
Health Care - Products — 0.9% | ||||||||
Abbott Laboratories |
||||||||
3.75%, 11/30/26 (Call 08/30/26)(a) |
15,183 | 15,226,238 | ||||||
4.75%, 11/30/36 (Call 05/30/36)(a) |
15,129 | 15,935,724 | ||||||
4.90%, 11/30/46 (Call 05/30/46) |
34,581 | 36,112,420 | ||||||
Baxter International Inc. |
||||||||
1.92%, 02/01/27 (Call 01/01/27)(a) |
18,183 | 16,372,888 | ||||||
2.27%, 12/01/28 (Call 10/01/28) |
15,972 | 13,890,815 |
Security |
Par |
Value | ||||||
Health Care - Products (continued) | ||||||||
2.54%, 02/01/32 (Call 11/01/31)(a) |
$ | 17,595 | $ | 14,529,543 | ||||
2.60%, 08/15/26 (Call 05/15/26)(a) |
5,707 | 5,339,518 | ||||||
3.13%, 12/01/51 (Call 06/01/51) |
8,624 | 6,055,425 | ||||||
Boston Scientific Corp., 2.65%, 06/01/30 (Call 03/01/30)(a) |
14,880 | 12,999,881 | ||||||
Danaher Corp. |
||||||||
2.60%, 10/01/50 (Call 04/01/50) |
10,238 | 7,068,867 | ||||||
2.80%, 12/10/51 (Call 06/10/51)(a) |
14,944 | 10,619,012 | ||||||
DH Europe Finance II Sarl |
||||||||
2.60%, 11/15/29 (Call 08/15/29)(a) |
4,787 | 4,305,831 | ||||||
3.25%, 11/15/39 (Call 05/15/39) |
7,551 | 6,237,896 | ||||||
3.40%, 11/15/49 (Call 05/15/49)(a) |
11,209 | 8,996,338 | ||||||
Medtronic Inc. |
||||||||
4.38%, 03/15/35(a) |
20,176 | 20,030,113 | ||||||
4.63%, 03/15/45(a) |
17,147 | 17,133,750 | ||||||
PerkinElmer Inc., 3.30%, 09/15/29 (Call 06/15/29) |
10,726 | 9,554,688 | ||||||
Stryker Corp. |
||||||||
1.95%, 06/15/30 (Call 03/15/30)(a) |
12,504 | 10,403,487 | ||||||
3.38%, 11/01/25 (Call 08/01/25) |
6,556 | 6,388,622 | ||||||
3.50%, 03/15/26 (Call 12/15/25)(a) |
7,413 | 7,234,973 | ||||||
4.63%, 03/15/46 (Call 09/15/45) |
8,199 | 7,764,209 | ||||||
Thermo Fisher Scientific Inc. |
||||||||
2.00%, 10/15/31 (Call 07/15/31)(a) |
15,129 | 12,731,032 | ||||||
2.60%, 10/01/29 (Call 07/01/29)(a) |
10,077 | 9,147,467 | ||||||
2.80%, 10/15/41 (Call 04/15/41)(a) |
10,988 | 8,490,863 | ||||||
4.10%, 08/15/47 (Call 02/15/47)(a) |
9,463 | 8,835,775 | ||||||
Zimmer Biomet Holdings Inc., 2.60%, 11/24/31 (Call 08/24/31)(a) |
9,468 | 7,850,150 | ||||||
|
|
|||||||
299,255,525 | ||||||||
Health Care - Services — 2.5% | ||||||||
Aetna Inc. |
||||||||
3.88%, 08/15/47 (Call 02/15/47) |
10,791 | 8,821,545 | ||||||
6.63%, 06/15/36 |
11,412 | 12,573,562 | ||||||
Ascension Health |
||||||||
3.95%, 11/15/46(a) |
7,868 | 7,169,979 | ||||||
Series B, 2.53%, 11/15/29 (Call 08/15/29)(a) |
9,533 | 8,523,086 | ||||||
CommonSpirit Health |
||||||||
3.35%, 10/01/29 (Call 04/01/29)(a) |
6,887 | 6,166,182 | ||||||
4.19%, 10/01/49 (Call 04/01/49)(a) |
4,420 | 3,665,509 | ||||||
Elevance Health Inc. |
||||||||
1.50%, 03/15/26 (Call 02/15/26)(a) |
10,156 | 9,277,524 | ||||||
2.25%, 05/15/30 (Call 02/15/30) |
13,899 | 11,853,465 | ||||||
2.55%, 03/15/31 (Call 12/15/30) |
8,327 | 7,145,938 | ||||||
2.88%, 09/15/29 (Call 06/15/29) |
9,735 | 8,760,005 | ||||||
3.13%, 05/15/50 (Call 11/15/49) |
8,986 | 6,699,606 | ||||||
3.60%, 03/15/51 (Call 09/15/50) |
15,428 | 12,467,211 | ||||||
3.65%, 12/01/27 (Call 09/01/27)(a) |
18,836 | 18,214,695 | ||||||
3.70%, 09/15/49 (Call 03/15/49)(a) |
7,754 | 6,366,757 | ||||||
4.10%, 03/01/28 (Call 12/01/27) |
14,783 | 14,497,684 | ||||||
4.38%, 12/01/47 (Call 06/01/47)(a) |
13,579 | 12,409,829 | ||||||
4.55%, 03/01/48 (Call 09/01/47)(a) |
10,196 | 9,542,108 | ||||||
4.63%, 05/15/42(a) |
11,288 | 10,686,563 | ||||||
4.65%, 01/15/43 |
13,477 | 12,742,036 | ||||||
4.65%, 08/15/44 (Call 02/15/44)(a) |
7,518 | 7,075,821 | ||||||
HCA Inc. |
||||||||
2.38%, 07/15/31 (Call 04/15/31)(a) |
8,475 | 6,705,618 | ||||||
3.13%, 03/15/27 (Call 02/15/27)(a)(c) |
9,255 | 8,539,991 | ||||||
3.50%, 09/01/30 (Call 03/01/30)(a) |
27,457 | 23,933,078 | ||||||
3.50%, 07/15/51 (Call 01/15/51) |
16,885 | 11,522,717 | ||||||
3.63%, 03/15/32 (Call 12/15/31)(c) |
19,753 | 17,060,073 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Health Care - Services (continued) | ||||||||
4.13%, 06/15/29 (Call 03/15/29) |
$ | 21,189 | $ | 19,535,260 | ||||
4.50%, 02/15/27 (Call 08/15/26) |
12,052 | 11,779,760 | ||||||
4.63%, 03/15/52 (Call 09/15/51)(a)(c) |
19,697 | 16,254,874 | ||||||
5.13%, 06/15/39 (Call 12/15/38) |
10,892 | 9,799,450 | ||||||
5.25%, 06/15/26 (Call 12/15/25) |
17,970 | 18,046,509 | ||||||
5.25%, 06/15/49 (Call 12/15/48)(a) |
21,756 | 19,296,752 | ||||||
5.38%, 09/01/26 (Call 03/01/26) |
10,012 | 10,097,404 | ||||||
5.50%, 06/15/47 (Call 12/15/46)(a) |
15,423 | 14,193,270 | ||||||
5.63%, 09/01/28 (Call 03/01/28) |
13,166 | 13,240,783 | ||||||
5.88%, 02/15/26 (Call 08/15/25) |
13,772 | 14,062,589 | ||||||
5.88%, 02/01/29 (Call 08/01/28)(a) |
9,036 | 9,202,413 | ||||||
Humana Inc. |
||||||||
1.35%, 02/03/27 (Call 01/03/27) |
8,902 | 7,791,523 | ||||||
2.15%, 02/03/32 (Call 11/03/31)(a) |
11,320 | 9,172,109 | ||||||
3.70%, 03/23/29 (Call 02/23/29)(a) |
9,125 | 8,615,553 | ||||||
4.95%, 10/01/44 (Call 04/01/44)(a) |
7,206 | 6,915,967 | ||||||
Kaiser Foundation Hospitals |
||||||||
4.15%, 05/01/47 (Call 11/01/46) |
12,404 | 11,462,665 | ||||||
Series 2019, 3.27%, 11/01/49 (Call 05/01/49) |
7,155 | 5,623,025 | ||||||
Series
2021, 2.81%, 06/01/41 |
11,592 | 8,834,740 | ||||||
Series 2021, 3.00%, 06/01/51 (Call 12/01/50) |
11,439 | 8,494,844 | ||||||
Laboratory Corp. of America Holdings, 4.70%, 02/01/45 (Call 08/01/44)(a) |
9,381 | 8,483,759 | ||||||
Quest Diagnostics Inc., 2.95%, 06/30/30 (Call 03/30/30)(a) |
13,250 | 11,722,437 | ||||||
UnitedHealth Group Inc. |
||||||||
1.15%, 05/15/26 (Call 04/15/26)(a) |
9,938 | 9,042,676 | ||||||
2.00%, 05/15/30(a) |
11,755 | 10,028,737 | ||||||
2.30%, 05/15/31 (Call 02/15/31) |
13,896 | 11,874,673 | ||||||
2.75%, 05/15/40 (Call 11/15/39)(a) |
11,406 | 8,804,612 | ||||||
2.88%, 08/15/29 |
12,254 | 11,261,227 | ||||||
2.90%, 05/15/50 (Call 11/15/49)(a) |
14,504 | 10,620,978 | ||||||
2.95%, 10/15/27 |
11,173 | 10,613,137 | ||||||
3.05%, 05/15/41 (Call 11/15/40) |
14,330 | 11,452,881 | ||||||
3.10%, 03/15/26(a) |
11,584 | 11,323,964 | ||||||
3.13%, 05/15/60 (Call 11/15/59)(a) |
9,158 | 6,698,177 | ||||||
3.25%, 05/15/51 (Call 11/15/50)(a) |
23,339 | 18,173,603 | ||||||
3.45%, 01/15/27(a) |
10,089 | 9,896,751 | ||||||
3.50%, 08/15/39 (Call 02/15/39) |
14,517 | 12,507,480 | ||||||
3.70%, 08/15/49 (Call 02/15/49) |
12,292 | 10,408,909 | ||||||
3.75%, 10/15/47 (Call 04/15/47) |
8,335 | 7,140,163 | ||||||
3.85%, 06/15/28(a) |
11,741 | 11,589,358 | ||||||
3.88%, 12/15/28(a) |
7,666 | 7,537,813 | ||||||
3.88%, 08/15/59 (Call 02/15/59) |
12,169 | 10,349,158 | ||||||
4.00%, 05/15/29 (Call 03/15/29) |
16,985 | 16,749,649 | ||||||
4.20%, 05/15/32 (Call 02/15/32) |
17,056 | 16,896,383 | ||||||
4.20%, 01/15/47 (Call 07/15/46) |
9,107 | 8,353,097 | ||||||
4.25%, 03/15/43 (Call 09/15/42) |
8,537 | 7,947,794 | ||||||
4.25%, 06/15/48 (Call 12/15/47) |
13,785 | 12,721,318 | ||||||
4.45%, 12/15/48 (Call 06/15/48) |
9,971 | 9,486,045 | ||||||
4.63%, 07/15/35(a) |
7,687 | 7,673,582 | ||||||
4.75%, 07/15/45(a) |
19,022 | 18,758,083 | ||||||
4.75%, 05/15/52 (Call 11/15/51)(a) |
22,487 | 22,216,191 | ||||||
4.95%, 05/15/62 (Call 11/15/61) |
12,795 | 12,847,927 | ||||||
5.80%, 03/15/36(a) |
11,487 | 12,622,628 | ||||||
6.88%, 02/15/38 |
15,361 | 18,689,837 | ||||||
Universal Health Services Inc., 2.65%, 10/15/30 (Call 07/15/30)(a)(c) |
9,802 | 7,730,275 | ||||||
|
|
|||||||
867,063,374 |
Security |
Par |
Value | ||||||
Holding Companies - Diversified — 0.2% | ||||||||
Ares Capital Corp. |
||||||||
2.15%, 07/15/26 (Call 06/15/26)(a) |
$ | 11,539 | $ | 10,019,686 | ||||
2.88%, 06/15/28 (Call 04/15/28) |
14,846 | 12,326,463 | ||||||
3.88%, 01/15/26 (Call 12/15/25) |
9,910 | 9,327,906 | ||||||
Blackstone Secured Lending Fund, 3.63%, 01/15/26 (Call 12/15/25)(a) |
7,780 | 7,273,335 | ||||||
FS KKR Capital Corp. |
||||||||
3.13%, 10/12/28 (Call 08/12/28)(a) |
8,288 | 6,755,961 | ||||||
3.40%, 01/15/26 (Call 12/15/25) |
10,044 | 9,154,684 | ||||||
Owl Rock Capital Corp. |
||||||||
2.88%, 06/11/28 (Call 04/11/28)(a) |
11,798 | 9,560,444 | ||||||
3.40%, 07/15/26 (Call 06/15/26)(a) |
12,849 | 11,501,903 | ||||||
|
|
|||||||
75,920,382 | ||||||||
Home Builders — 0.0% | ||||||||
Lennar Corp., 4.75%, 11/29/27 (Call 05/29/27)(a) |
10,061 | 9,815,713 | ||||||
|
|
|||||||
Household Products & Wares — 0.0% | ||||||||
Kimberly-Clark Corp., 3.10%, 03/26/30 (Call 12/26/29)(a) |
13,022 | 12,119,471 | ||||||
|
|
|||||||
Insurance — 1.9% | ||||||||
Aflac Inc., 3.60%, 04/01/30 (Call 01/01/30)(a) |
8,971 | 8,544,795 | ||||||
American International Group Inc. |
||||||||
3.90%, 04/01/26 (Call 01/01/26) |
18,161 | 17,870,555 | ||||||
4.38%, 06/30/50 (Call 12/30/49)(a) |
10,440 | 9,358,938 | ||||||
4.75%, 04/01/48 (Call 10/01/47)(a) |
9,546 | 9,030,995 | ||||||
4.80%, 07/10/45 (Call 01/10/45)(a) |
8,578 | 8,006,506 | ||||||
Aon Corp. |
||||||||
2.80%, 05/15/30 (Call 02/15/30)(a) |
9,362 | 8,184,237 | ||||||
3.75%, 05/02/29 (Call 02/02/29)(a) |
6,835 | 6,487,734 | ||||||
Aon Corp./Aon Global Holdings PLC, 3.90%, 02/28/52 (Call 08/28/51)(a) |
10,552 | 8,755,099 | ||||||
Aon Global Ltd., 3.88%, 12/15/25 (Call 09/15/25) |
7,569 | 7,488,218 | ||||||
Arch Capital Group Ltd., 3.64%, 06/30/50 (Call 12/30/49) |
9,557 | 7,460,385 | ||||||
Athene Holding Ltd., 4.13%, 01/12/28 (Call 10/12/27)(a) |
9,926 | 9,333,455 | ||||||
Berkshire Hathaway Finance Corp. |
||||||||
1.45%, 10/15/30 (Call 07/15/30)(a) |
9,203 | 7,506,308 | ||||||
2.30%, 03/15/27 (Call 02/15/27)(a) |
10,114 | 9,525,689 | ||||||
2.50%, 01/15/51 (Call 07/15/50) |
8,942 | 6,092,176 | ||||||
2.85%, 10/15/50 (Call 04/15/50) |
17,988 | 13,085,205 | ||||||
2.88%, 03/15/32 (Call 12/15/31)(a) |
11,510 | 10,237,566 | ||||||
3.85%, 03/15/52 (Call 09/15/51) |
28,514 | 24,576,448 | ||||||
4.20%, 08/15/48 (Call 02/15/48)(a) |
24,796 | 22,995,766 | ||||||
4.25%, 01/15/49 (Call 07/15/48)(a) |
18,715 | 17,663,951 | ||||||
5.75%, 01/15/40(a) |
11,559 | 12,920,708 | ||||||
Berkshire Hathaway Inc. |
||||||||
3.13%, 03/15/26 (Call 12/15/25) |
28,238 | 27,610,052 | ||||||
4.50%, 02/11/43(a) |
10,107 | 9,756,539 | ||||||
Brighthouse Financial Inc. |
||||||||
3.70%, 06/22/27 (Call 03/22/27)(a) |
2,807 | 2,658,360 | ||||||
4.70%, 06/22/47 (Call 12/22/46)(a) |
9,693 | 7,649,556 | ||||||
Chubb Corp. (The), 6.00%, 05/11/37 |
7,622 | 8,662,382 | ||||||
Chubb INA Holdings Inc. |
||||||||
1.38%, 09/15/30 (Call 06/15/30)(a) |
4,025 | 3,208,883 | ||||||
3.05%, 12/15/61 (Call 06/15/61) |
11,063 | 7,819,393 | ||||||
3.35%, 05/03/26 (Call 02/03/26)(a) |
12,769 | 12,493,301 | ||||||
4.35%, 11/03/45 (Call 05/03/45)(a) |
12,476 | 11,750,436 | ||||||
Corebridge Financial Inc. |
||||||||
3.65%, 04/05/27 (Call 03/05/27)(a)(c) |
11,865 | 11,163,464 |
38 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Insurance (continued) | ||||||||
3.85%, 04/05/29 (Call 02/05/29)(a)(c) |
$ | 12,516 | $ | 11,506,329 | ||||
3.90%, 04/05/32 (Call 01/05/32)(a)(c) |
14,958 | 13,413,156 | ||||||
4.40%, 04/05/52 (Call 10/05/51)(a)(c) |
14,252 | 11,923,518 | ||||||
Equitable Holdings Inc. |
||||||||
4.35%, 04/20/28 (Call 01/20/28)(a) |
11,384 | 11,199,433 | ||||||
5.00%, 04/20/48 (Call 10/20/47) |
16,603 | 15,527,642 | ||||||
Everest Reinsurance Holdings Inc. |
||||||||
3.13%, 10/15/52 (Call 04/15/52) |
13,753 | 9,557,529 | ||||||
3.50%, 10/15/50 (Call 04/15/50)(a) |
8,764 | 6,614,769 | ||||||
Fairfax Financial Holdings Ltd., 5.63%, 08/16/32 |
1,001 | 980,351 | ||||||
Hartford Financial Services Group Inc. (The), 3.60%, 08/19/49 (Call 02/19/49) |
8,084 | 6,391,232 | ||||||
Manulife Financial Corp. |
||||||||
3.70%, 03/16/32 (Call 12/16/31)(a) |
2,953 | 2,719,219 | ||||||
4.15%, 03/04/26(a) |
11,878 | 11,762,194 | ||||||
5.38%, 03/04/46(a) |
7,625 | 7,993,277 | ||||||
Marsh & McLennan Companies Inc. |
||||||||
2.25%, 11/15/30 (Call 08/15/30) |
10,569 | 8,992,200 | ||||||
4.38%, 03/15/29 (Call 12/15/28)(a) |
10,662 | 10,613,154 | ||||||
4.90%, 03/15/49 (Call 09/15/48)(a) |
11,718 | 11,691,565 | ||||||
MetLife Inc. |
||||||||
4.05%, 03/01/45(a) |
11,871 | 10,481,153 | ||||||
4.13%, 08/13/42(a) |
10,061 | 9,015,420 | ||||||
4.55%, 03/23/30 (Call 12/23/29)(a) |
4,902 | 4,939,896 | ||||||
4.60%, 05/13/46 (Call 11/13/45)(a) |
5,873 | 5,669,644 | ||||||
4.88%, 11/13/43 |
6,216 | 6,110,466 | ||||||
5.00%, 07/15/52 (Call 01/15/52)(a) |
11,270 | 11,403,096 | ||||||
5.70%, 06/15/35(a) |
11,252 | 12,183,092 | ||||||
5.88%, 02/06/41(a) |
12,069 | 13,103,100 | ||||||
6.38%, 06/15/34 |
10,481 | 12,009,856 | ||||||
Progressive Corp. (The), 4.13%, 04/15/47 (Call 10/15/46)(a) |
8,933 | 8,135,960 | ||||||
Prudential Financial Inc. |
||||||||
3.70%, 03/13/51 (Call 09/13/50)(a) |
15,596 | 12,896,660 | ||||||
3.91%, 12/07/47 (Call 06/07/47)(a) |
5,983 | 5,209,734 | ||||||
3.94%, 12/07/49 (Call 06/07/49)(a) |
12,999 | 11,197,596 | ||||||
4.35%, 02/25/50 (Call 08/25/49)(a) |
11,211 | 10,337,248 | ||||||
4.60%, 05/15/44(a) |
6,966 | 6,634,827 | ||||||
5.70%, 12/14/36(a) |
10,663 | 11,467,846 | ||||||
Travelers Companies Inc. (The) |
||||||||
3.05%, 06/08/51 (Call 12/08/50) |
9,571 | 7,303,118 | ||||||
5.35%, 11/01/40(a) |
4,469 | 4,722,705 | ||||||
6.25%, 06/15/37(a) |
11,260 | 13,201,447 | ||||||
Willis North America Inc., 4.65%, 06/15/27 (Call 05/15/27) |
7,449 | 7,311,499 | ||||||
|
|
|||||||
652,117,031 | ||||||||
Internet — 2.1% | ||||||||
Alphabet Inc. |
||||||||
0.80%, 08/15/27 (Call 06/15/27)(a) |
14,414 | 12,604,824 | ||||||
1.10%, 08/15/30 (Call 05/15/30) |
21,362 | 17,428,615 | ||||||
1.90%, 08/15/40 (Call 02/15/40) |
14,185 | 9,998,006 | ||||||
2.00%, 08/15/26 (Call 05/15/26) |
15,472 | 14,579,662 | ||||||
2.05%, 08/15/50 (Call 02/15/50) |
26,968 | 17,735,562 | ||||||
2.25%, 08/15/60 (Call 02/15/60)(a) |
20,932 | 13,321,786 | ||||||
Amazon.com Inc. |
||||||||
1.00%, 05/12/26 (Call 04/12/26) |
28,304 | 25,639,365 | ||||||
1.20%, 06/03/27 (Call 04/03/27) |
15,471 | 13,735,075 | ||||||
1.50%, 06/03/30 (Call 03/03/30) |
19,746 | 16,428,927 | ||||||
1.65%, 05/12/28 (Call 03/12/28) |
22,640 | 20,065,531 | ||||||
2.10%, 05/12/31 (Call 02/12/31) |
31,101 | 26,672,196 |
Security |
Par |
Value | ||||||
Internet (continued) | ||||||||
2.50%, 06/03/50 (Call 12/03/49)(a) |
$ | 25,454 | $ | 17,670,271 | ||||
2.70%, 06/03/60 (Call 12/03/59) |
24,475 | 16,358,485 | ||||||
2.88%, 05/12/41 (Call 11/12/40)(a) |
20,130 | 16,049,617 | ||||||
3.10%, 05/12/51 (Call 11/12/50)(a) |
35,146 | 27,328,120 | ||||||
3.15%, 08/22/27 (Call 05/22/27)(a) |
40,073 | 38,685,472 | ||||||
3.25%, 05/12/61 (Call 11/12/60) |
18,970 | 14,406,241 | ||||||
3.30%, 04/13/27 (Call 03/13/27)(a) |
22,939 | 22,396,405 | ||||||
3.45%, 04/13/29 (Call 02/13/29)(a) |
14,716 | 14,195,074 | ||||||
3.60%, 04/13/32 (Call 01/13/32)(a) |
29,947 | 28,711,851 | ||||||
3.88%, 08/22/37 (Call 02/22/37)(a) |
28,196 | 26,449,638 | ||||||
3.95%, 04/13/52 (Call 10/13/51) |
27,756 | 25,135,295 | ||||||
4.05%, 08/22/47 (Call 02/22/47)(a) |
35,123 | 32,602,728 | ||||||
4.10%, 04/13/62 (Call 10/13/61)(a) |
15,491 | 13,945,186 | ||||||
4.25%, 08/22/57 (Call 02/22/57)(a) |
22,447 | 20,912,590 | ||||||
4.80%, 12/05/34 (Call 06/05/34)(a) |
10,772 | 11,294,730 | ||||||
4.95%, 12/05/44 (Call 06/05/44)(a) |
14,904 | 15,529,600 | ||||||
5.20%, 12/03/25 (Call 09/03/25)(a) |
6,500 | 6,754,626 | ||||||
Booking Holdings Inc. |
||||||||
3.60%, 06/01/26 (Call 03/01/26) |
14,092 | 13,881,932 | ||||||
4.63%, 04/13/30 (Call 01/13/30) |
13,362 | 13,415,233 | ||||||
eBay Inc. |
||||||||
1.40%, 05/10/26 (Call 04/10/26)(a) |
11,018 | 9,955,736 | ||||||
2.60%, 05/10/31 (Call 02/10/31)(a) |
10,830 | 8,978,871 | ||||||
2.70%, 03/11/30 (Call 12/11/29)(a) |
11,016 | 9,528,653 | ||||||
3.60%, 06/05/27 (Call 03/05/27)(a) |
11,301 | 10,925,415 | ||||||
3.65%, 05/10/51 (Call 11/10/50) |
9,260 | 6,993,913 | ||||||
4.00%, 07/15/42 (Call 01/15/42)(a) |
6,779 | 5,639,620 | ||||||
Expedia Group Inc. |
||||||||
2.95%, 03/15/31 (Call 12/15/30)(a) |
12,263 | 10,257,277 | ||||||
3.25%, 02/15/30 (Call 11/15/29)(a) |
11,103 | 9,589,135 | ||||||
3.80%, 02/15/28 (Call 11/15/27)(a) |
8,932 | 8,311,879 | ||||||
4.63%, 08/01/27 (Call 05/01/27) |
10,029 | 9,768,816 | ||||||
5.00%, 02/15/26 (Call 11/15/25)(a) |
11,383 | 11,416,015 | ||||||
Netflix Inc. |
||||||||
4.38%, 11/15/26(a) |
9,445 | 9,176,408 | ||||||
4.88%, 04/15/28 |
16,086 | 15,643,635 | ||||||
5.88%, 11/15/28 |
18,629 | 18,884,404 | ||||||
6.38%, 05/15/29(a) |
10,143 | 10,578,001 | ||||||
|
|
|||||||
719,580,421 | ||||||||
Lodging — 0.1% | ||||||||
Marriott International Inc./MD |
||||||||
Series FF, 4.63%, 06/15/30 (Call 03/15/30)(a) |
12,744 | 12,110,512 | ||||||
Series GG, 3.50%, 10/15/32 (Call 07/15/32) |
4,905 | 4,203,904 | ||||||
Series HH, 2.85%, 04/15/31 (Call 01/15/31) |
12,629 | 10,512,953 | ||||||
Series R, 3.13%, 06/15/26 (Call 03/15/26) |
8,134 | 7,738,514 | ||||||
Sands China Ltd. |
||||||||
4.30%, 01/08/26 (Call 12/08/25) |
2,400 | 2,071,146 | ||||||
5.90%, 08/08/28 (Call 05/08/28)(a) |
15,824 | 13,529,520 | ||||||
|
|
|||||||
50,166,549 | ||||||||
Machinery — 0.4% | ||||||||
Caterpillar Financial Services Corp. |
||||||||
0.80%, 11/13/25(a) |
2,318 | 2,099,311 | ||||||
0.90%, 03/02/26(a) |
10,447 | 9,480,894 | ||||||
1.10%, 09/14/27(a) |
11,964 | 10,469,310 | ||||||
Caterpillar Inc. |
||||||||
2.60%, 04/09/30 (Call 01/09/30)(a) |
14,356 | 13,028,848 | ||||||
3.25%, 09/19/49 (Call 03/19/49) |
8,619 | 7,092,309 | ||||||
3.25%, 04/09/50 (Call 10/09/49)(a) |
11,822 | 9,734,135 | ||||||
3.80%, 08/15/42(a) |
16,670 | 15,147,982 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Machinery (continued) | ||||||||
5.20%, 05/27/41 |
$ | 7,869 | $ | 8,503,178 | ||||
Deere & Co. |
||||||||
3.75%, 04/15/50 (Call 10/15/49)(a) |
9,556 | 8,767,171 | ||||||
3.90%, 06/09/42 (Call 12/09/41)(a) |
11,103 | 10,405,346 | ||||||
John Deere Capital Corp., 0.70%, 01/15/26(a) |
7,377 | 6,666,332 | ||||||
Otis Worldwide Corp. |
||||||||
2.57%, 02/15/30 (Call 11/15/29)(a) |
17,847 | 15,383,716 | ||||||
3.11%, 02/15/40 (Call 08/15/39)(a) |
7,928 | 6,077,327 | ||||||
Westinghouse Air Brake Technologies Corp. |
||||||||
3.45%, 11/15/26 (Call 08/15/26)(a) |
6,007 | 5,621,784 | ||||||
4.95%, 09/15/28 (Call 06/15/28) |
12,661 | 12,286,988 | ||||||
|
|
|||||||
140,764,631 | ||||||||
Manufacturing — 0.7% | ||||||||
3M Co. |
||||||||
2.38%, 08/26/29 (Call 05/26/29)(a) |
13,723 | 11,777,761 | ||||||
2.88%, 10/15/27 (Call 07/15/27)(a) |
10,872 | 10,235,970 | ||||||
3.25%, 08/26/49 (Call 02/26/49)(a) |
9,746 | 7,253,432 | ||||||
3.38%, 03/01/29 (Call 12/01/28)(a) |
6,584 | 6,082,193 | ||||||
4.00%, 09/14/48 (Call 03/14/48)(a) |
11,620 | 9,759,279 | ||||||
Eaton Corp. |
||||||||
4.15%, 03/15/33 |
2,805 | 2,684,925 | ||||||
4.15%, 11/02/42 |
10,499 | 9,464,393 | ||||||
GE Capital Funding LLC, 4.55%, 05/15/32 (Call 02/15/32) |
6,015 | 5,804,439 | ||||||
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35(a) |
70,841 | 66,783,808 | ||||||
General Electric Co. |
||||||||
5.88%, 01/14/38(a) |
9,964 | 10,453,375 | ||||||
6.75%, 03/15/32 |
25,864 | 29,255,875 | ||||||
Illinois Tool Works Inc. |
||||||||
2.65%, 11/15/26 (Call 08/15/26)(a) |
10,655 | 10,240,317 | ||||||
3.90%, 09/01/42 (Call 03/01/42)(a) |
10,475 | 9,258,946 | ||||||
Parker-Hannifin Corp. |
||||||||
3.25%, 06/14/29 (Call 03/14/29) |
13,377 | 12,254,109 | ||||||
4.00%, 06/14/49 (Call 12/14/48)(a) |
7,385 | 6,272,257 | ||||||
4.25%, 09/15/27 (Call 08/15/27) |
8,301 | 8,231,914 | ||||||
4.50%, 09/15/29 (Call 07/15/29) |
11,625 | 11,456,742 | ||||||
Trane Technologies Luxembourg Finance SA, 3.80%, 03/21/29 (Call 12/21/28)(a) |
6,613 | 6,233,336 | ||||||
|
|
|||||||
233,503,071 | ||||||||
Media — 4.6% | ||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital |
||||||||
2.25%, 01/15/29 (Call 11/15/28) |
14,701 | 12,080,892 | ||||||
2.30%, 02/01/32 (Call 11/01/31) |
10,828 | 8,234,276 | ||||||
2.80%, 04/01/31 (Call 01/01/31) |
18,726 | 15,130,254 | ||||||
3.50%, 06/01/41 (Call 12/01/40) |
19,073 | 13,210,639 | ||||||
3.50%, 03/01/42 (Call 09/01/41) |
16,801 | 11,579,711 | ||||||
3.70%, 04/01/51 (Call 10/01/50) |
22,747 | 15,168,696 | ||||||
3.75%, 02/15/28 (Call 11/15/27)(a) |
9,828 | 9,089,931 | ||||||
3.85%, 04/01/61 (Call 10/01/60) |
21,120 | 13,629,619 | ||||||
3.90%, 06/01/52 (Call 12/01/51) |
25,803 | 17,445,465 | ||||||
3.95%, 06/30/62 (Call 12/30/61) |
15,188 | 10,000,526 | ||||||
4.20%, 03/15/28 (Call 12/15/27)(a) |
12,380 | 11,644,999 | ||||||
4.40%, 04/01/33 (Call 01/01/33)(a) |
12,086 | 10,666,841 | ||||||
4.40%, 12/01/61 (Call 06/01/61) |
16,938 | 11,941,585 | ||||||
4.80%, 03/01/50 (Call 09/01/49)(a) |
29,787 | 23,410,816 | ||||||
5.05%, 03/30/29 (Call 12/30/28) |
11,528 | 11,082,511 | ||||||
5.13%, 07/01/49 (Call 01/01/49) |
13,208 | 10,705,846 |
Security |
Par |
Value | ||||||
Media (continued) | ||||||||
5.25%, 04/01/53 (Call 10/01/52)(a) |
$ | 15,693 | $ | 13,143,223 | ||||
5.38%, 04/01/38 (Call 10/01/37) |
7,598 | 6,639,123 | ||||||
5.38%, 05/01/47 (Call 11/01/46)(a) |
24,789 | 21,137,246 | ||||||
5.50%, 04/01/63 (Call 10/01/62) |
11,759 | 9,803,488 | ||||||
5.75%, 04/01/48 (Call 10/01/47)(a) |
25,694 | 22,741,628 | ||||||
6.38%, 10/23/35 (Call 04/23/35)(a) |
21,005 | 20,790,451 | ||||||
6.48%, 10/23/45 (Call 04/23/45)(a) |
35,953 | 34,287,175 | ||||||
Comcast Corp. |
||||||||
1.50%, 02/15/31 (Call 11/15/30)(a) |
17,872 | 14,313,327 | ||||||
1.95%, 01/15/31 (Call 10/15/30) |
16,858 | 13,998,455 | ||||||
2.35%, 01/15/27 (Call 10/15/26)(a) |
15,095 | 14,059,702 | ||||||
2.45%, 08/15/52 (Call 02/15/52)(a) |
16,729 | 10,859,040 | ||||||
2.65%, 02/01/30 (Call 11/01/29) |
20,853 | 18,473,792 | ||||||
2.65%, 08/15/62 (Call 02/15/62) |
13,371 | 8,341,764 | ||||||
2.80%, 01/15/51 (Call 07/15/50) |
18,086 | 12,479,181 | ||||||
2.89%, 11/01/51 (Call 05/01/51) |
51,384 | 35,950,410 | ||||||
2.94%, 11/01/56 (Call 05/01/56) |
59,338 | 40,041,549 | ||||||
2.99%, 11/01/63 (Call 05/01/63) |
38,066 | 25,320,749 | ||||||
3.15%, 03/01/26 (Call 12/01/25)(a) |
23,184 | 22,538,947 | ||||||
3.15%, 02/15/28 (Call 11/15/27)(a) |
15,599 | 14,797,486 | ||||||
3.20%, 07/15/36 (Call 01/15/36)(a) |
10,611 | 8,934,536 | ||||||
3.25%, 11/01/39 (Call 05/01/39) |
15,388 | 12,513,085 | ||||||
3.30%, 02/01/27 (Call 11/01/26)(a) |
12,409 | 11,978,178 | ||||||
3.30%, 04/01/27 (Call 02/01/27) |
6,023 | 5,821,322 | ||||||
3.40%, 04/01/30 (Call 01/01/30)(a) |
16,904 | 15,772,627 | ||||||
3.40%, 07/15/46 (Call 01/15/46)(a) |
16,053 | 12,538,873 | ||||||
3.45%, 02/01/50 (Call 08/01/49)(a) |
18,586 | 14,511,765 | ||||||
3.55%, 05/01/28 (Call 02/01/28) |
12,608 | 12,166,141 | ||||||
3.75%, 04/01/40 (Call 10/01/39) |
16,203 | 14,039,587 | ||||||
3.90%, 03/01/38 (Call 09/01/37) |
12,685 | 11,450,236 | ||||||
3.95%, 10/15/25 (Call 08/15/25) |
26,135 | 26,062,567 | ||||||
3.97%, 11/01/47 (Call 05/01/47) |
23,113 | 19,705,963 | ||||||
4.00%, 08/15/47 (Call 02/15/47) |
9,941 | 8,576,568 | ||||||
4.00%, 03/01/48 (Call 09/01/47)(a) |
8,973 | 7,738,891 | ||||||
4.00%, 11/01/49 (Call 05/01/49) |
23,199 | 19,903,401 | ||||||
4.05%, 11/01/52 (Call 05/01/52)(a) |
11,102 | 9,499,593 | ||||||
4.15%, 10/15/28 (Call 07/15/28) |
39,858 | 39,508,075 | ||||||
4.20%, 08/15/34 (Call 02/15/34) |
8,584 | 8,147,811 | ||||||
4.25%, 10/15/30 (Call 07/15/30)(a) |
16,479 | 16,227,939 | ||||||
4.25%, 01/15/33(a) |
14,900 | 14,482,608 | ||||||
4.40%, 08/15/35 (Call 02/15/35) |
7,196 | 6,935,572 | ||||||
4.60%, 10/15/38 (Call 04/15/38) |
10,536 | 10,155,836 | ||||||
4.60%, 08/15/45 (Call 02/15/45) |
8,300 | 7,725,944 | ||||||
4.70%, 10/15/48 (Call 04/15/48) |
20,297 | 19,274,583 | ||||||
4.95%, 10/15/58 (Call 04/15/58)(a) |
13,089 | 12,808,433 | ||||||
5.65%, 06/15/35(a) |
10,714 | 11,493,956 | ||||||
7.05%, 03/15/33(a) |
11,002 | 12,994,265 | ||||||
Discovery Communications LLC |
||||||||
3.63%, 05/15/30 (Call 02/15/30)(a) |
9,711 | 8,507,345 | ||||||
3.95%, 03/20/28 (Call 12/20/27) |
17,977 | 16,575,695 | ||||||
4.00%, 09/15/55 (Call 03/15/55) |
18,113 | 11,973,604 | ||||||
4.13%, 05/15/29 (Call 02/15/29)(a) |
11,255 | 10,231,316 | ||||||
4.65%, 05/15/50 (Call 11/15/49) |
9,063 | 6,893,643 | ||||||
5.20%, 09/20/47 (Call 03/20/47)(a) |
12,987 | 10,627,001 | ||||||
5.30%, 05/15/49 (Call 11/15/48) |
9,067 | 7,510,940 | ||||||
Fox Corp. |
||||||||
4.71%, 01/25/29 (Call 10/25/28)(a) |
18,882 | 18,684,859 | ||||||
5.48%, 01/25/39 (Call 07/25/38) |
12,319 | 12,044,241 | ||||||
5.58%, 01/25/49 (Call 07/25/48)(a) |
18,318 | 17,701,198 |
40 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Media (continued) | ||||||||
Meta Platforms Inc. |
||||||||
3.50%, 08/15/27 |
$ | 32,628 | $ | 31,577,489 | ||||
3.85%, 08/15/32 |
25,631 | 24,036,557 | ||||||
4.45%, 08/15/52 |
27,903 | 25,336,624 | ||||||
4.65%, 08/15/62 |
16,017 | 14,404,774 | ||||||
Paramount Global |
||||||||
4.00%, 01/15/26 (Call 10/15/25)(a) |
6,938 | 6,828,479 | ||||||
4.20%, 05/19/32 (Call 02/19/32)(a) |
10,491 | 9,227,728 | ||||||
4.38%, 03/15/43(a) |
14,415 | 10,896,915 | ||||||
4.95%, 01/15/31 (Call 10/15/30)(a) |
11,479 | 10,925,610 | ||||||
4.95%, 05/19/50 (Call 11/19/49)(a) |
9,687 | 7,917,275 | ||||||
5.85%, 09/01/43 (Call 03/01/43) |
14,428 | 13,056,314 | ||||||
6.88%, 04/30/36 |
12,157 | 12,497,581 | ||||||
7.88%, 07/30/30 |
10,155 | 11,409,367 | ||||||
Time Warner Cable LLC |
||||||||
4.50%, 09/15/42 (Call 03/15/42) |
10,176 | 7,683,499 | ||||||
5.50%, 09/01/41 (Call 03/01/41) |
14,328 | 12,314,502 | ||||||
5.88%, 11/15/40 (Call 05/15/40)(a) |
12,773 | 11,455,611 | ||||||
6.55%, 05/01/37(a) |
17,006 | 16,767,720 | ||||||
6.75%, 06/15/39 |
15,139 | 14,691,883 | ||||||
7.30%, 07/01/38(a) |
15,739 | 16,200,105 | ||||||
Time
Warner Entertainment Co. LP, |
9,291 | 10,625,498 | ||||||
TWDC Enterprises 18 Corp. |
||||||||
1.85%, 07/30/26 |
13,187 | 12,154,857 | ||||||
2.95%, 06/15/27(a) |
7,801 | 7,449,559 | ||||||
3.00%, 02/13/26(a) |
9,090 | 8,802,966 | ||||||
3.15%, 09/17/25 |
4,107 | 4,015,089 | ||||||
4.13%, 06/01/44(a) |
12,472 | 11,313,854 | ||||||
Walt Disney Co. (The) |
||||||||
1.75%, 01/13/26(a) |
16,630 | 15,494,522 | ||||||
2.00%, 09/01/29 (Call 06/01/29)(a) |
21,478 | 18,544,077 | ||||||
2.20%, 01/13/28(a) |
8,441 | 7,686,499 | ||||||
2.65%, 01/13/31(a) |
24,663 | 21,762,607 | ||||||
2.75%, 09/01/49 (Call 03/01/49) |
21,106 | 15,093,983 | ||||||
3.50%, 05/13/40 (Call 11/13/39)(a) |
20,053 | 17,009,771 | ||||||
3.60%, 01/13/51 (Call 07/13/50)(a) |
31,240 | 26,081,554 | ||||||
3.80%, 03/22/30(a) |
12,221 | 11,808,980 | ||||||
3.80%, 05/13/60 (Call 11/13/59)(a) |
12,472 | 10,397,461 | ||||||
4.63%, 03/23/40 (Call 09/23/39)(a) |
10,152 | 9,955,644 | ||||||
4.70%, 03/23/50 (Call 09/23/49)(a) |
18,998 | 18,974,788 | ||||||
6.20%, 12/15/34(a) |
8,831 | 9,989,080 | ||||||
6.40%, 12/15/35 |
10,592 | 12,382,792 | ||||||
6.65%, 11/15/37(a) |
15,186 | 18,097,434 | ||||||
|
|
|||||||
1,581,326,588 | ||||||||
Mining — 0.6% | ||||||||
Barrick Gold Corp., 5.25%, 04/01/42(a) |
10,128 | 9,858,900 | ||||||
Barrick North America Finance LLC |
||||||||
5.70%, 05/30/41(a) |
9,389 | 9,628,594 | ||||||
5.75%, 05/01/43(a) |
6,384 | 6,538,365 | ||||||
Barrick PD Australia Finance Pty Ltd., 5.95%, 10/15/39(a) |
10,085 | 10,588,448 | ||||||
BHP Billiton Finance USA Ltd. |
||||||||
4.13%, 02/24/42 |
10,142 | 9,239,896 | ||||||
5.00%, 09/30/43(a) |
25,463 | 25,785,705 | ||||||
Freeport-McMoRan Inc. |
||||||||
4.63%, 08/01/30 (Call 08/01/25)(a) |
6,212 | 5,742,723 | ||||||
5.40%, 11/14/34 (Call 05/14/34)(a) |
10,212 | 9,684,959 | ||||||
5.45%, 03/15/43 (Call 09/15/42)(a) |
19,708 | 17,594,358 | ||||||
Newmont Corp. |
||||||||
2.25%, 10/01/30 (Call 07/01/30)(a) |
11,068 | 9,094,423 |
Security |
Par |
Value | ||||||
Mining (continued) | ||||||||
2.60%, 07/15/32 (Call 04/15/32)(a) |
$ | 9,025 | $ | 7,348,234 | ||||
4.88%, 03/15/42 (Call 09/15/41)(a) |
11,312 | 10,646,911 | ||||||
6.25%, 10/01/39(a) |
12,065 | 12,986,355 | ||||||
Rio Tinto Alcan Inc., 6.13%, 12/15/33(a) |
7,275 | 8,219,902 | ||||||
Rio Tinto Finance USA Ltd. |
||||||||
2.75%, 11/02/51 (Call 05/02/51)(a) |
13,879 | 10,030,714 | ||||||
5.20%, 11/02/40(a) |
10,966 | 11,443,035 | ||||||
7.13%, 07/15/28 |
11,669 | 13,205,149 | ||||||
Rio Tinto Finance USA PLC, 4.13%, 08/21/42 (Call 02/21/42)(a) |
8,066 | 7,396,361 | ||||||
|
|
|||||||
195,033,032 | ||||||||
Office & Business Equipment — 0.0% | ||||||||
CDW LLC/CDW Finance Corp. |
||||||||
2.67%, 12/01/26 (Call 11/01/26)(a) |
7,988 | 7,186,736 | ||||||
3.57%, 12/01/31 (Call 09/01/31) |
7,593 | 6,348,589 | ||||||
|
|
|||||||
13,535,325 | ||||||||
Oil & Gas — 4.2% | ||||||||
BP Capital Markets America Inc. |
||||||||
1.75%, 08/10/30 (Call 05/10/30) |
10,458 | 8,652,321 | ||||||
2.72%, 01/12/32 (Call 10/12/31)(a) |
20,388 | 17,742,647 | ||||||
2.77%, 11/10/50 (Call 05/10/50) |
17,092 | 11,927,955 | ||||||
2.94%, 06/04/51 (Call 12/04/50)(a) |
25,060 | 17,913,086 | ||||||
3.00%, 02/24/50 (Call 08/24/49) |
23,017 | 16,721,890 | ||||||
3.00%, 03/17/52 (Call 09/17/51)(a) |
15,901 | 11,486,011 | ||||||
3.02%, 01/16/27 (Call 10/16/26) |
5,751 | 5,504,854 | ||||||
3.06%, 06/17/41 (Call 12/17/40)(a) |
17,002 | 13,349,091 | ||||||
3.12%, 05/04/26 (Call 02/04/26)(a) |
13,907 | 13,466,343 | ||||||
3.38%, 02/08/61 (Call 08/08/60) |
20,010 | 14,952,084 | ||||||
3.41%, 02/11/26 (Call 12/11/25)(a) |
10,431 | 10,239,168 | ||||||
3.63%, 04/06/30 (Call 01/06/30)(a) |
17,476 | 16,579,027 | ||||||
3.80%, 09/21/25 (Call 07/21/25)(a) |
6,882 | 6,856,199 | ||||||
3.94%, 09/21/28 (Call 06/21/28) |
13,677 | 13,365,657 | ||||||
4.23%, 11/06/28 (Call 08/06/28) |
19,084 | 18,930,128 | ||||||
BP Capital Markets PLC |
||||||||
3.28%, 09/19/27 (Call 06/19/27)(a) |
13,696 | 13,103,288 | ||||||
3.72%, 11/28/28 (Call 08/28/28)(a) |
8,408 | 8,139,357 | ||||||
Canadian Natural Resources Ltd. |
||||||||
3.85%, 06/01/27 (Call 03/01/27) |
10,846 | 10,371,704 | ||||||
4.95%, 06/01/47 (Call 12/01/46)(a) |
5,267 | 4,980,708 | ||||||
6.25%, 03/15/38(a) |
15,169 | 15,819,092 | ||||||
Cenovus Energy Inc. |
||||||||
3.75%, 02/15/52 (Call 08/15/51)(a) |
10,483 | 8,080,201 | ||||||
4.25%, 04/15/27 (Call 01/15/27) |
9,495 | 9,374,034 | ||||||
4.40%, 04/15/29 (Call 01/15/29)(a) |
10,995 | 10,652,860 | ||||||
5.40%, 06/15/47 (Call 12/15/46)(a) |
9,982 | 9,680,060 | ||||||
6.75%, 11/15/39(a) |
16,258 | 17,621,149 | ||||||
Chevron Corp. |
||||||||
2.00%, 05/11/27 (Call 03/11/27) |
8,433 | 7,787,068 | ||||||
2.24%, 05/11/30 (Call 02/11/30) |
19,185 | 16,833,871 | ||||||
2.95%, 05/16/26 (Call 02/16/26)(a) |
21,780 | 21,113,020 | ||||||
3.08%, 05/11/50 (Call 11/11/49)(a) |
8,665 | 6,921,781 | ||||||
3.33%, 11/17/25 (Call 08/17/25)(a) |
3,495 | 3,449,397 | ||||||
Chevron USA Inc. |
||||||||
1.02%, 08/12/27 (Call 06/12/27)(a) |
12,919 | 11,257,808 | ||||||
2.34%, 08/12/50 (Call 02/12/50) |
10,446 | 7,175,824 | ||||||
ConocoPhillips, 6.50%, 02/01/39 |
10,940 | 12,838,708 | ||||||
ConocoPhillips Co. |
||||||||
3.76%, 03/15/42 (Call 09/15/41)(c) |
14,852 | 12,960,123 | ||||||
3.80%, 03/15/52 (Call 09/15/51)(a) |
15,244 | 13,095,038 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Oil & Gas (continued) | ||||||||
4.03%, 03/15/62 (Call 09/15/61)(c) |
$ | 18,458 | $ | 15,669,384 | ||||
4.30%, 11/15/44 (Call 05/15/44)(a) |
5,579 | 5,102,001 | ||||||
6.95%, 04/15/29(a) |
4,686 | 5,354,741 | ||||||
Continental Resources Inc./OK, 4.38%, 01/15/28 (Call 10/15/27)(a) |
11,620 | 10,915,858 | ||||||
Devon Energy Corp. |
||||||||
4.75%, 05/15/42 (Call 11/15/41)(a) |
10,872 | 9,811,952 | ||||||
5.00%, 06/15/45 (Call 12/15/44) |
7,749 | 7,153,163 | ||||||
5.60%, 07/15/41 (Call 01/15/41)(a) |
14,183 | 14,029,565 | ||||||
Diamondback Energy Inc. |
||||||||
3.13%, 03/24/31 (Call 12/24/30)(a) |
14,917 | 12,888,746 | ||||||
3.25%, 12/01/26 (Call 10/01/26)(a) |
7,749 | 7,459,739 | ||||||
3.50%, 12/01/29 (Call 09/01/29)(a) |
7,260 | 6,637,331 | ||||||
4.25%, 03/15/52 (Call 09/15/51) |
8,316 | 6,848,667 | ||||||
EOG Resources Inc. |
||||||||
4.15%, 01/15/26 (Call 10/15/25) |
7,473 | 7,483,124 | ||||||
4.38%, 04/15/30 (Call 01/15/30)(a) |
10,677 | 10,676,301 | ||||||
4.95%, 04/15/50 (Call 10/15/49)(a) |
6,745 | 6,957,974 | ||||||
EQT Corp. |
||||||||
3.90%, 10/01/27 (Call 07/01/27) |
15,542 | 14,733,816 | ||||||
7.00%, 02/01/30 (Call 11/01/29)(a) |
10,039 | 10,728,840 | ||||||
Equinor ASA |
||||||||
1.75%, 01/22/26 (Call 12/22/25) |
4,753 | 4,414,199 | ||||||
2.38%, 05/22/30 (Call 02/22/30)(a) |
9,151 | 8,029,782 | ||||||
3.13%, 04/06/30 (Call 01/06/30)(a) |
10,944 | 10,129,268 | ||||||
3.25%, 11/18/49 (Call 05/18/49) |
7,480 | 5,980,445 | ||||||
3.63%, 09/10/28 (Call 06/10/28)(a) |
6,659 | 6,501,077 | ||||||
3.70%, 04/06/50 (Call 10/06/49) |
11,258 | 9,777,530 | ||||||
3.95%, 05/15/43 |
7,455 | 6,692,577 | ||||||
4.80%, 11/08/43 |
6,624 | 6,657,306 | ||||||
5.10%, 08/17/40 |
8,846 | 9,210,919 | ||||||
Exxon Mobil Corp. |
||||||||
2.28%, 08/16/26 (Call 06/16/26)(a) |
10,517 | 9,941,397 | ||||||
2.44%, 08/16/29 (Call 05/16/29)(a) |
15,030 | 13,557,786 | ||||||
2.61%, 10/15/30 (Call 07/15/30)(a) |
21,444 | 19,175,564 | ||||||
3.00%, 08/16/39 (Call 02/16/39) |
8,870 | 7,253,870 | ||||||
3.04%, 03/01/26 (Call 12/01/25)(a) |
27,530 | 26,858,042 | ||||||
3.10%, 08/16/49 (Call 02/16/49)(a) |
13,858 | 10,846,345 | ||||||
3.29%, 03/19/27 (Call 01/19/27)(a) |
7,697 | 7,522,427 | ||||||
3.45%, 04/15/51 (Call 10/15/50)(a) |
32,145 | 26,508,535 | ||||||
3.48%, 03/19/30 (Call 12/19/29)(a) |
20,840 | 19,976,459 | ||||||
3.57%, 03/06/45 (Call 09/06/44)(a) |
11,160 | 9,402,570 | ||||||
4.11%, 03/01/46 (Call 09/01/45)(a) |
24,698 | 22,708,989 | ||||||
4.23%, 03/19/40 (Call 09/19/39) |
22,359 | 21,239,500 | ||||||
4.33%, 03/19/50 (Call 09/19/49) |
30,327 | 28,863,728 | ||||||
Hess Corp. |
||||||||
4.30%, 04/01/27 (Call 01/01/27)(a) |
11,126 | 10,865,759 | ||||||
5.60%, 02/15/41 |
15,065 | 14,528,690 | ||||||
6.00%, 01/15/40(a) |
7,030 | 7,120,371 | ||||||
Marathon Oil Corp. |
||||||||
4.40%, 07/15/27 (Call 04/15/27)(a) |
10,501 | 10,217,998 | ||||||
6.60%, 10/01/37(a) |
9,733 | 10,248,357 | ||||||
Marathon Petroleum Corp. |
||||||||
4.75%, 09/15/44 (Call 03/15/44) |
8,585 | 7,554,687 | ||||||
6.50%, 03/01/41 (Call 09/01/40) |
13,683 | 14,791,413 | ||||||
Phillips 66 |
||||||||
2.15%, 12/15/30 (Call 09/15/30)(a) |
13,682 | 11,234,863 | ||||||
3.30%, 03/15/52 (Call 09/15/51)(a) |
13,619 | 10,096,819 | ||||||
3.90%, 03/15/28 (Call 12/15/27) |
8,985 | 8,623,430 | ||||||
4.65%, 11/15/34 (Call 05/15/34)(a) |
9,175 | 8,866,181 |
Security |
Par |
Value | ||||||
Oil & Gas (continued) | ||||||||
4.88%, 11/15/44 (Call 05/15/44)(a) |
$ | 16,709 | $ | 15,920,626 | ||||
5.88%, 05/01/42(a) |
15,132 | 16,179,991 | ||||||
Pioneer Natural Resources Co. |
||||||||
1.13%, 01/15/26 (Call 12/15/25)(a) |
4,337 | 3,875,673 | ||||||
1.90%, 08/15/30 (Call 05/15/30) |
6,639 | 5,413,179 | ||||||
2.15%, 01/15/31 (Call 10/15/30)(a) |
5,994 | 4,941,076 | ||||||
Shell International Finance BV |
||||||||
2.38%, 11/07/29 (Call 08/07/29)(a) |
16,251 | 14,342,981 | ||||||
2.50%, 09/12/26(a) |
9,714 | 9,199,167 | ||||||
2.75%, 04/06/30 (Call 01/06/30)(a) |
17,102 | 15,347,099 | ||||||
2.88%, 05/10/26 |
18,304 | 17,659,695 | ||||||
3.00%, 11/26/51 (Call 05/26/51) |
8,866 | 6,680,265 | ||||||
3.13%, 11/07/49 (Call 05/07/49)(a) |
13,792 | 10,662,966 | ||||||
3.25%, 04/06/50 (Call 10/06/49)(a) |
21,286 | 16,919,137 | ||||||
3.75%, 09/12/46 |
13,894 | 11,923,995 | ||||||
3.88%, 11/13/28 (Call 08/13/28)(a) |
15,711 | 15,405,583 | ||||||
4.00%, 05/10/46 |
23,722 | 21,050,955 | ||||||
4.13%, 05/11/35 |
17,098 | 16,284,099 | ||||||
4.38%, 05/11/45 |
29,913 | 27,959,642 | ||||||
4.55%, 08/12/43 |
10,446 | 9,979,356 | ||||||
5.50%, 03/25/40 |
12,815 | 13,819,086 | ||||||
6.38%, 12/15/38 |
33,061 | 38,411,827 | ||||||
Suncor Energy Inc. |
||||||||
3.75%, 03/04/51 (Call 09/04/50)(a) |
6,621 | 5,232,460 | ||||||
4.00%, 11/15/47 (Call 05/15/47)(a) |
5,229 | 4,349,316 | ||||||
6.50%, 06/15/38 |
13,450 | 14,437,284 | ||||||
6.80%, 05/15/38 |
12,043 | 13,298,646 | ||||||
6.85%, 06/01/39(a) |
8,252 | 9,189,367 | ||||||
TotalEnergies Capital International SA |
||||||||
2.83%, 01/10/30 (Call 10/10/29) |
14,674 | 13,345,707 | ||||||
2.99%, 06/29/41 (Call 12/29/40)(a) |
7,702 | 6,121,459 | ||||||
3.13%, 05/29/50 (Call 11/29/49)(a) |
25,219 | 19,498,799 | ||||||
3.39%, 06/29/60 (Call 12/29/59)(a) |
8,327 | 6,431,233 | ||||||
3.46%, 02/19/29 (Call 11/19/28)(a) |
12,876 | 12,313,955 | ||||||
3.46%, 07/12/49 (Call 01/12/49)(a) |
10,535 | 8,603,041 | ||||||
TotalEnergies Capital SA, 3.88%, 10/11/28(a) |
9,949 | 9,734,666 | ||||||
Valero Energy Corp. |
||||||||
3.65%, 12/01/51 (Call 06/01/51) |
11,388 | 8,685,286 | ||||||
4.00%, 04/01/29 (Call 01/01/29) |
11,953 | 11,403,051 | ||||||
4.35%, 06/01/28 (Call 03/01/28)(a) |
7,591 | 7,447,885 | ||||||
6.63%, 06/15/37(a) |
16,353 | 17,779,359 | ||||||
7.50%, 04/15/32 |
10,253 | 11,892,115 | ||||||
|
|
|||||||
1,448,529,664 | ||||||||
Oil & Gas Services — 0.4% | ||||||||
Baker
Hughes Holdings LLC, |
13,056 | 12,608,950 | ||||||
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor Inc. |
||||||||
3.34%, 12/15/27 (Call 09/15/27)(a) |
16,471 | 15,404,137 | ||||||
4.08%, 12/15/47 (Call 06/15/47)(a) |
13,156 | 10,902,919 | ||||||
Halliburton Co. |
||||||||
2.92%, 03/01/30 (Call 12/01/29)(a) |
14,309 | 12,660,676 | ||||||
4.75%, 08/01/43 (Call 02/01/43) |
7,212 | 6,391,293 | ||||||
4.85%, 11/15/35 (Call 05/15/35)(a) |
11,922 | 11,364,104 | ||||||
5.00%, 11/15/45 (Call 05/15/45)(a) |
22,786 | 20,727,242 | ||||||
6.70%, 09/15/38 |
9,661 | 10,493,003 | ||||||
7.45%, 09/15/39(a) |
10,626 | 12,355,028 | ||||||
Schlumberger Investment SA, 2.65%, 06/26/30 (Call 03/26/30)(a) |
12,592 | 11,108,112 | ||||||
|
|
|||||||
124,015,464 |
42 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Packaging & Containers — 0.1% | ||||||||
Amcor Flexibles North America Inc., 2.69%, 05/25/31 (Call 02/25/31) |
$ | 3,214 | $ | 2,645,261 | ||||
Berry
Global Inc., 1.57%, 01/15/26 |
11,339 | 10,127,887 | ||||||
WRKCo Inc. |
||||||||
4.65%, 03/15/26 (Call 01/15/26)(a) |
6,182 | 6,222,474 | ||||||
4.90%, 03/15/29 (Call 12/15/28)(a) |
7,161 | 7,156,389 | ||||||
|
|
|||||||
26,152,011 | ||||||||
Pharmaceuticals — 7.4% | ||||||||
AbbVie Inc. |
||||||||
2.95%, 11/21/26 (Call 09/21/26) |
40,634 | 38,335,091 | ||||||
3.20%, 05/14/26 (Call 02/14/26) |
21,772 | 20,868,573 | ||||||
3.20%, 11/21/29 (Call 08/21/29)(a) |
56,747 | 51,829,867 | ||||||
4.05%, 11/21/39 (Call 05/21/39) |
43,586 | 38,341,972 | ||||||
4.25%, 11/14/28 (Call 08/14/28) |
22,774 | 22,398,673 | ||||||
4.25%, 11/21/49 (Call 05/21/49)(a) |
58,505 | 51,386,597 | ||||||
4.30%, 05/14/36 (Call 11/14/35) |
12,135 | 11,300,222 | ||||||
4.40%, 11/06/42 |
28,900 | 25,983,551 | ||||||
4.45%, 05/14/46 (Call 11/14/45)(a) |
22,461 | 20,230,160 | ||||||
4.50%, 05/14/35 (Call 11/14/34) |
27,258 | 25,938,380 | ||||||
4.55%, 03/15/35 (Call 09/15/34)(a) |
17,522 | 16,798,478 | ||||||
4.70%, 05/14/45 (Call 11/14/44) |
27,690 | 25,677,028 | ||||||
4.75%, 03/15/45 (Call 09/15/44) |
10,321 | 9,651,432 | ||||||
4.85%, 06/15/44 (Call 12/15/43) |
12,731 | 12,106,296 | ||||||
4.88%, 11/14/48 (Call 05/14/48)(a) |
17,805 | 17,083,912 | ||||||
AmerisourceBergen Corp. |
||||||||
2.70%, 03/15/31 (Call 12/15/30) |
12,360 | 10,548,344 | ||||||
3.45%, 12/15/27 (Call 09/15/27)(a) |
11,281 | 10,769,559 | ||||||
Astrazeneca Finance LLC |
||||||||
1.20%, 05/28/26 (Call 04/28/26)(a) |
13,204 | 11,909,815 | ||||||
1.75%, 05/28/28 (Call 03/28/28) |
15,384 | 13,625,095 | ||||||
2.25%, 05/28/31 (Call 02/28/31) |
10,253 | 8,884,287 | ||||||
AstraZeneca PLC |
||||||||
0.70%, 04/08/26 (Call 03/08/26)(a) |
13,433 | 11,954,710 | ||||||
1.38%, 08/06/30 (Call 05/06/30)(a) |
15,292 | 12,508,708 | ||||||
3.00%, 05/28/51 (Call 11/28/50) |
11,745 | 9,111,548 | ||||||
3.13%, 06/12/27 (Call 03/12/27)(a) |
7,531 | 7,257,480 | ||||||
3.38%, 11/16/25(a) |
17,115 | 16,804,296 | ||||||
4.00%, 01/17/29 (Call 10/17/28)(a) |
11,313 | 11,235,999 | ||||||
4.00%, 09/18/42(a) |
6,780 | 6,187,450 | ||||||
4.38%, 11/16/45 |
10,490 | 10,029,871 | ||||||
4.38%, 08/17/48 (Call 02/17/48)(a) |
7,471 | 7,233,663 | ||||||
6.45%, 09/15/37 |
32,266 | 37,909,746 | ||||||
Becton Dickinson and Co. |
||||||||
1.96%, 02/11/31 (Call 11/11/30)(a) |
10,381 | 8,459,736 | ||||||
2.82%, 05/20/30 (Call 02/20/30)(a) |
10,929 | 9,638,182 | ||||||
3.70%, 06/06/27 (Call 03/06/27) |
16,973 | 16,465,495 | ||||||
3.79%, 05/20/50 (Call 11/20/49)(a) |
4,577 | 3,792,859 | ||||||
4.67%, 06/06/47 (Call 12/06/46)(a) |
16,282 | 15,495,365 | ||||||
4.69%, 12/15/44 (Call 06/15/44)(a) |
9,132 | 8,625,906 | ||||||
Bristol-Myers Squibb Co. |
||||||||
0.75%, 11/13/25 (Call 10/13/25)(a) |
7,539 | 6,857,876 | ||||||
1.13%, 11/13/27 (Call 09/13/27)(a) |
9,911 | 8,743,051 | ||||||
1.45%, 11/13/30 (Call 08/13/30)(a) |
15,001 | 12,250,963 | ||||||
2.35%, 11/13/40 (Call 05/13/40) |
8,257 | 6,030,171 | ||||||
2.55%, 11/13/50 (Call 05/13/50) |
16,117 | 11,085,814 | ||||||
2.95%, 03/15/32 (Call 12/15/31)(a) |
14,711 | 13,303,990 | ||||||
3.20%, 06/15/26 (Call 04/15/26)(a) |
20,401 | 19,988,498 | ||||||
3.40%, 07/26/29 (Call 04/26/29) |
25,109 | 23,964,263 | ||||||
3.55%, 03/15/42 (Call 09/15/41)(a) |
12,608 | 10,777,424 | ||||||
3.70%, 03/15/52 (Call 09/15/51)(a) |
19,698 | 16,618,925 |
Security |
Par |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
3.90%, 02/20/28 (Call 11/20/27) |
$ | 20,826 | $ | 20,693,130 | ||||
3.90%, 03/15/62 (Call 09/15/61) |
12,038 | 10,062,165 | ||||||
4.13%, 06/15/39 (Call 12/15/38) |
18,500 | 17,343,352 | ||||||
4.25%, 10/26/49 (Call 04/26/49) |
37,633 | 34,731,131 | ||||||
4.35%, 11/15/47 (Call 05/15/47) |
14,604 | 13,753,748 | ||||||
4.55%, 02/20/48 (Call 08/20/47) |
14,374 | 13,898,512 | ||||||
Cardinal
Health Inc., 3.41%, 06/15/27 |
12,341 | 11,855,363 | ||||||
Cigna Corp. |
||||||||
1.25%, 03/15/26 (Call 02/15/26)(a) |
12,033 | 10,850,633 | ||||||
2.38%, 03/15/31 (Call 12/15/30) |
17,067 | 14,570,023 | ||||||
2.40%, 03/15/30 (Call 12/15/29) |
20,015 | 17,269,412 | ||||||
3.20%, 03/15/40 (Call 09/15/39)(a) |
8,570 | 6,747,826 | ||||||
3.40%, 03/01/27 (Call 12/01/26) |
15,069 | 14,379,280 | ||||||
3.40%, 03/15/50 (Call 09/15/49) |
16,627 | 12,498,240 | ||||||
3.40%, 03/15/51 (Call 09/15/50)(a) |
15,875 | 11,973,697 | ||||||
3.88%, 10/15/47 (Call 04/15/47)(a) |
12,326 | 9,912,123 | ||||||
4.13%, 11/15/25 (Call 09/15/25) |
17,625 | 17,493,359 | ||||||
4.38%, 10/15/28 (Call 07/15/28) |
38,114 | 37,534,279 | ||||||
4.50%, 02/25/26 (Call 11/27/25) |
16,995 | 17,050,664 | ||||||
4.80%, 08/15/38 (Call 02/15/38)(a) |
23,403 | 22,578,246 | ||||||
4.80%, 07/15/46 (Call 01/16/46) |
16,054 | 15,027,938 | ||||||
4.90%, 12/15/48 (Call 06/15/48) |
30,645 | 29,077,845 | ||||||
CVS Health Corp. |
||||||||
1.30%, 08/21/27 (Call 06/21/27)(a) |
23,647 | 20,489,688 | ||||||
1.75%, 08/21/30 (Call 05/21/30) |
15,328 | 12,386,344 | ||||||
1.88%, 02/28/31 (Call 11/28/30)(a) |
15,120 | 12,178,159 | ||||||
2.13%, 09/15/31 (Call 06/15/31)(a) |
11,490 | 9,339,425 | ||||||
2.70%, 08/21/40 (Call 02/21/40) |
17,314 | 12,510,404 | ||||||
2.88%, 06/01/26 (Call 03/01/26)(a) |
17,503 | 16,715,134 | ||||||
3.00%, 08/15/26 (Call 06/15/26)(a) |
10,562 | 10,146,471 | ||||||
3.25%, 08/15/29 (Call 05/15/29)(a) |
17,343 | 15,851,327 | ||||||
3.63%, 04/01/27 (Call 02/01/27)(a) |
8,485 | 8,254,617 | ||||||
3.75%, 04/01/30 (Call 01/01/30)(a) |
17,526 | 16,416,413 | ||||||
4.13%, 04/01/40 (Call 10/01/39)(a) |
13,741 | 11,999,732 | ||||||
4.25%, 04/01/50 (Call 10/01/49)(a) |
10,797 | 9,244,684 | ||||||
4.30%, 03/25/28 (Call 12/25/27)(a) |
52,061 | 51,518,925 | ||||||
4.78%, 03/25/38 (Call 09/25/37)(a) |
51,476 | 48,854,873 | ||||||
5.05%, 03/25/48 (Call 09/25/47)(a) |
84,336 | 80,869,074 | ||||||
5.13%, 07/20/45 (Call 01/20/45) |
35,258 | 33,726,928 | ||||||
5.30%, 12/05/43 (Call 06/05/43)(a) |
10,632 | 10,486,166 | ||||||
Eli Lilly & Co. |
||||||||
2.25%, 05/15/50 (Call 11/15/49)(a) |
10,273 | 7,102,351 | ||||||
2.50%, 09/15/60 (Call 03/15/60) |
11,222 | 7,565,774 | ||||||
3.38%, 03/15/29 (Call 12/15/28)(a) |
13,549 | 13,124,724 | ||||||
3.95%, 03/15/49 (Call 09/15/48)(a) |
8,788 | 8,444,399 | ||||||
GlaxoSmithKline Capital Inc. |
||||||||
3.88%, 05/15/28 |
23,990 | 23,595,307 | ||||||
6.38%, 05/15/38(a) |
30,930 | 35,922,532 | ||||||
GlaxoSmithKline Capital PLC, 3.38%, 06/01/29 (Call 03/01/29)(a) |
8,484 | 8,079,781 | ||||||
Johnson & Johnson |
||||||||
0.55%, 09/01/25 (Call 08/01/25)(a) |
6,724 | 6,130,579 | ||||||
0.95%, 09/01/27 (Call 07/01/27)(a) |
18,409 | 16,251,968 | ||||||
1.30%, 09/01/30 (Call 06/01/30)(a) |
20,203 | 16,939,141 | ||||||
2.10%, 09/01/40 (Call 03/01/40) |
9,866 | 7,174,693 | ||||||
2.25%, 09/01/50 (Call 03/01/50) |
13,704 | 9,437,848 | ||||||
2.45%, 03/01/26 (Call 12/01/25) |
18,555 | 17,850,413 | ||||||
2.45%, 09/01/60 (Call 03/01/60)(a) |
15,298 | 10,183,788 | ||||||
2.90%, 01/15/28 (Call 10/15/27) |
14,909 | 14,333,647 | ||||||
2.95%, 03/03/27 (Call 12/03/26)(a) |
11,175 | 10,868,799 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
3.40%, 01/15/38 (Call 07/15/37) |
$ | 10,500 | $ | 9,382,375 | ||||
3.50%, 01/15/48 (Call 07/15/47) |
8,510 | 7,467,646 | ||||||
3.55%, 03/01/36 (Call 09/01/35)(a) |
10,522 | 9,767,735 | ||||||
3.63%, 03/03/37 (Call 09/03/36) |
15,277 | 14,207,384 | ||||||
3.70%, 03/01/46 (Call 09/01/45)(a) |
20,440 | 18,242,906 | ||||||
3.75%, 03/03/47 (Call 09/03/46)(a) |
8,543 | 7,679,703 | ||||||
4.38%, 12/05/33 (Call 06/05/33) |
9,121 | 9,315,407 | ||||||
5.95%, 08/15/37 |
11,589 | 13,483,081 | ||||||
Mead Johnson Nutrition Co., 4.13%, 11/15/25 (Call 08/15/25)(a) |
7,612 | 7,631,658 | ||||||
Merck & Co. Inc. |
||||||||
0.75%, 02/24/26 (Call 01/24/26)(a) |
10,737 | 9,709,022 | ||||||
1.45%, 06/24/30 (Call 03/24/30) |
18,133 | 14,974,922 | ||||||
1.70%, 06/10/27 (Call 05/10/27)(a) |
16,960 | 15,405,309 | ||||||
1.90%, 12/10/28 (Call 10/10/28)(a) |
10,139 | 8,950,530 | ||||||
2.15%, 12/10/31 (Call 09/10/31)(a) |
18,601 | 15,834,358 | ||||||
2.35%, 06/24/40 (Call 12/24/39) |
9,823 | 7,223,551 | ||||||
2.45%, 06/24/50 (Call 12/24/49)(a) |
13,409 | 9,217,382 | ||||||
2.75%, 12/10/51 (Call 06/10/51) |
19,500 | 14,017,673 | ||||||
2.90%, 12/10/61 (Call 06/10/61) |
17,051 | 11,752,097 | ||||||
3.40%, 03/07/29 (Call 12/07/28)(a) |
18,948 | 18,210,102 | ||||||
3.70%, 02/10/45 (Call 08/10/44)(a) |
21,338 | 18,421,343 | ||||||
3.90%, 03/07/39 (Call 09/07/38)(a) |
12,829 | 11,813,347 | ||||||
4.00%, 03/07/49 (Call 09/07/48) |
17,023 | 15,491,369 | ||||||
4.15%, 05/18/43(a) |
11,774 | 10,947,510 | ||||||
Mylan Inc. |
||||||||
4.55%, 04/15/28 (Call 01/15/28) |
8,243 | 7,749,723 | ||||||
5.20%, 04/15/48 (Call 10/15/47) |
7,467 | 5,771,893 | ||||||
Novartis Capital Corp. |
||||||||
2.00%, 02/14/27 (Call 12/14/26)(a) |
12,175 | 11,300,881 | ||||||
2.20%, 08/14/30 (Call 05/14/30) |
20,562 | 18,081,283 | ||||||
2.75%, 08/14/50 (Call 02/14/50)(a) |
12,113 | 9,167,100 | ||||||
3.00%, 11/20/25 (Call 08/20/25)(a) |
13,314 | 13,034,234 | ||||||
3.10%, 05/17/27 (Call 02/17/27)(a) |
8,821 | 8,565,767 | ||||||
4.00%, 11/20/45 (Call 05/20/45) |
13,049 | 12,010,797 | ||||||
4.40%, 05/06/44 |
18,070 | 17,701,574 | ||||||
Pfizer Inc. |
||||||||
1.70%, 05/28/30 (Call 02/28/30) |
14,398 | 12,191,741 | ||||||
1.75%, 08/18/31 (Call 05/18/31)(a) |
7,101 | 5,889,792 | ||||||
2.55%, 05/28/40 (Call 11/28/39)(a) |
10,492 | 8,043,337 | ||||||
2.63%, 04/01/30 (Call 01/01/30)(a) |
16,378 | 14,779,262 | ||||||
2.70%, 05/28/50 (Call 11/28/49)(a) |
14,291 | 10,612,239 | ||||||
2.75%, 06/03/26(a) |
11,429 | 11,083,945 | ||||||
3.00%, 12/15/26(a) |
18,076 | 17,595,686 | ||||||
3.45%, 03/15/29 (Call 12/15/28) |
15,878 | 15,326,567 | ||||||
3.60%, 09/15/28 (Call 06/15/28)(a) |
9,738 | 9,654,241 | ||||||
3.90%, 03/15/39 (Call 09/15/38) |
8,101 | 7,538,058 | ||||||
4.00%, 12/15/36 |
6,125 | 5,845,201 | ||||||
4.00%, 03/15/49 (Call 09/15/48)(a) |
14,017 | 13,136,727 | ||||||
4.13%, 12/15/46 |
12,724 | 12,109,444 | ||||||
4.20%, 09/15/48 (Call 03/15/48) |
12,009 | 11,576,288 | ||||||
4.30%, 06/15/43(a) |
11,361 | 10,898,656 | ||||||
4.40%, 05/15/44(a) |
12,033 | 11,641,027 | ||||||
7.20%, 03/15/39 |
26,158 | 33,583,152 | ||||||
Shire Acquisitions Investments Ireland DAC, 3.20%, 09/23/26 (Call 06/23/26)(a) |
31,607 | 30,184,590 | ||||||
Takeda Pharmaceutical Co. Ltd. |
||||||||
2.05%, 03/31/30 (Call 12/31/29) |
28,895 | 24,151,088 | ||||||
3.03%, 07/09/40 (Call 01/09/40)(a) |
13,740 | 10,657,516 | ||||||
3.18%, 07/09/50 (Call 01/09/50) |
23,890 | 17,481,868 |
Security |
Par |
Value | ||||||
Pharmaceuticals (continued) | ||||||||
3.38%, 07/09/60 (Call 01/09/60) |
$ | 10,369 | $ | 7,483,079 | ||||
5.00%, 11/26/28 (Call 08/26/28)(a) |
17,848 | 18,096,114 | ||||||
Utah Acquisition Sub Inc. |
||||||||
3.95%, 06/15/26 (Call 03/15/26)(a) |
22,275 | 20,942,748 | ||||||
5.25%, 06/15/46 (Call 12/15/45) |
11,156 | 8,848,387 | ||||||
Viatris Inc. |
||||||||
2.30%, 06/22/27 (Call 04/22/27) |
8,113 | 6,989,720 | ||||||
2.70%, 06/22/30 (Call 03/22/30) |
14,729 | 11,602,967 | ||||||
3.85%, 06/22/40 (Call 12/22/39) |
16,404 | 11,387,253 | ||||||
4.00%, 06/22/50 (Call 12/22/49) |
22,233 | 14,327,681 | ||||||
Wyeth LLC |
||||||||
5.95%, 04/01/37(a) |
23,265 | 26,339,916 | ||||||
6.50%, 02/01/34 |
10,252 | 12,038,578 | ||||||
Zoetis Inc. |
||||||||
2.00%, 05/15/30 (Call 02/15/30)(a) |
9,391 | 7,905,274 | ||||||
3.00%, 09/12/27 (Call 06/12/27) |
10,764 | 10,190,719 | ||||||
4.50%, 11/13/25 (Call 08/13/25)(a) |
7,053 | 7,157,784 | ||||||
4.70%, 02/01/43 (Call 08/01/42)(a) |
13,546 | 12,988,016 | ||||||
|
|
|||||||
2,572,102,718 | ||||||||
Pipelines — 3.1% | ||||||||
Cheniere Corpus Christi Holdings LLC |
||||||||
3.70%, 11/15/29 (Call 05/18/29)(a) |
20,350 | 18,728,156 | ||||||
5.13%, 06/30/27 (Call 01/01/27)(a) |
13,833 | 13,800,274 | ||||||
Enbridge Inc. |
||||||||
2.50%, 08/01/33 (Call 05/01/33)(a) |
10,750 | 8,677,596 | ||||||
3.13%, 11/15/29 (Call 08/15/29)(a) |
10,082 | 9,117,741 | ||||||
3.40%, 08/01/51 (Call 02/01/51)(a) |
10,660 | 7,940,109 | ||||||
4.25%, 12/01/26 (Call 09/01/26) |
7,405 | 7,292,389 | ||||||
5.50%, 12/01/46 (Call 06/01/46)(a) |
6,143 | 6,307,035 | ||||||
Energy Transfer LP |
||||||||
3.75%, 05/15/30 (Call 02/15/30)(a) |
16,540 | 14,878,886 | ||||||
4.00%, 10/01/27 (Call 07/01/27)(a) |
7,569 | 7,179,246 | ||||||
4.75%, 01/15/26 (Call 10/15/25) |
9,674 | 9,592,490 | ||||||
4.95%, 05/15/28 (Call 02/15/28)(a) |
8,843 | 8,645,888 | ||||||
4.95%, 06/15/28 (Call 03/15/28)(a) |
7,424 | 7,303,363 | ||||||
5.00%, 05/15/50 (Call 11/15/49)(a) |
19,761 | 16,930,875 | ||||||
5.15%, 03/15/45 (Call 09/15/44)(a) |
10,898 | 9,393,103 | ||||||
5.25%, 04/15/29 (Call 01/15/29) |
14,671 | 14,484,184 | ||||||
5.30%, 04/15/47 (Call 10/15/46)(a) |
8,093 | 7,068,737 | ||||||
5.35%, 05/15/45 (Call 11/15/44)(a) |
8,857 | 7,820,949 | ||||||
5.40%, 10/01/47 (Call 04/01/47)(a) |
16,846 | 14,936,595 | ||||||
5.50%, 06/01/27 (Call 03/01/27)(a) |
13,492 | 13,650,180 | ||||||
6.00%, 06/15/48 (Call 12/15/47) |
12,540 | 11,911,111 | ||||||
6.13%, 12/15/45 (Call 06/15/45) |
11,108 | 10,647,310 | ||||||
6.25%, 04/15/49 (Call 10/15/48)(a) |
18,551 | 18,221,592 | ||||||
6.50%, 02/01/42 (Call 08/01/41)(a) |
12,582 | 12,717,221 | ||||||
Enterprise Products Operating LLC |
||||||||
2.80%, 01/31/30 (Call 10/31/29)(a) |
13,952 | 12,293,495 | ||||||
3.13%, 07/31/29 (Call 04/30/29)(a) |
10,609 | 9,592,062 | ||||||
3.20%, 02/15/52 (Call 08/15/51) |
12,944 | 9,380,966 | ||||||
3.30%, 02/15/53 (Call 08/15/52) |
17,787 | 13,067,011 | ||||||
3.70%, 02/15/26 (Call 11/15/25) |
6,555 | 6,470,920 | ||||||
3.70%, 01/31/51 (Call 07/31/50)(a) |
12,764 | 10,028,093 | ||||||
3.95%, 01/31/60 (Call 07/31/59) |
7,108 | 5,521,490 | ||||||
4.15%, 10/16/28 (Call 07/16/28) |
9,001 | 8,827,935 | ||||||
4.20%, 01/31/50 (Call 07/31/49)(a) |
13,614 | 11,527,762 | ||||||
4.25%, 02/15/48 (Call 08/15/47)(a) |
12,531 | 10,714,261 | ||||||
4.45%, 02/15/43 (Call 08/15/42)(a) |
11,665 | 10,316,526 | ||||||
4.80%, 02/01/49 (Call 08/01/48)(a) |
13,064 | 12,020,122 | ||||||
4.85%, 08/15/42 (Call 02/15/42)(a) |
9,230 | 8,667,251 |
44 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Pipelines (continued) | ||||||||
4.85%, 03/15/44 (Call 09/15/43)(a) |
$ | 12,697 | $ | 11,740,201 | ||||
4.90%, 05/15/46 (Call 11/15/45) |
12,039 | 11,244,876 | ||||||
5.10%, 02/15/45 (Call 08/15/44)(a) |
11,968 | 11,355,278 | ||||||
5.95%, 02/01/41 |
7,984 | 8,346,301 | ||||||
Kinder Morgan Energy Partners LP |
||||||||
5.50%, 03/01/44 (Call 09/01/43)(a) |
5,930 | 5,537,750 | ||||||
6.95%, 01/15/38(a) |
10,517 | 11,383,119 | ||||||
Kinder Morgan Inc. |
||||||||
2.00%, 02/15/31 (Call 11/15/30)(a) |
8,567 | 6,818,250 | ||||||
3.60%, 02/15/51 (Call 08/15/50) |
10,094 | 7,511,770 | ||||||
4.30%, 03/01/28 (Call 12/01/27)(a) |
12,542 | 12,252,120 | ||||||
4.80%, 02/01/33 (Call 11/01/32) |
8,343 | 8,032,786 | ||||||
5.05%, 02/15/46 (Call 08/15/45)(a) |
8,669 | 7,895,170 | ||||||
5.20%, 03/01/48 (Call 09/01/47)(a) |
7,762 | 7,201,116 | ||||||
5.30%, 12/01/34 (Call 06/01/34)(a) |
6,001 | 5,878,547 | ||||||
5.45%, 08/01/52 (Call 02/01/52)(a) |
7,384 | 7,163,262 | ||||||
5.55%, 06/01/45 (Call 12/01/44)(a) |
18,908 | 18,288,438 | ||||||
7.75%, 01/15/32(a) |
10,281 | 11,926,168 | ||||||
Magellan
Midstream Partners LP, |
8,604 | 6,727,209 | ||||||
MPLX LP |
||||||||
1.75%, 03/01/26 (Call 02/01/26) |
11,368 | 10,293,994 | ||||||
2.65%, 08/15/30 (Call 05/15/30) |
17,156 | 14,314,133 | ||||||
4.00%, 03/15/28 (Call 12/15/27)(a) |
10,872 | 10,395,315 | ||||||
4.13%, 03/01/27 (Call 12/01/26) |
11,494 | 11,121,036 | ||||||
4.50%, 04/15/38 (Call 10/15/37)(a) |
18,151 | 16,005,895 | ||||||
4.70%, 04/15/48 (Call 10/15/47) |
15,633 | 13,354,776 | ||||||
4.80%, 02/15/29 (Call 11/15/28)(a) |
9,756 | 9,543,857 | ||||||
4.95%, 09/01/32 |
17,601 | 17,002,918 | ||||||
4.95%, 03/14/52 (Call 09/14/51) |
17,669 | 15,557,037 | ||||||
5.20%, 03/01/47 (Call 09/01/46) |
9,705 | 8,845,471 | ||||||
5.50%, 02/15/49 (Call 08/15/48) |
16,611 | 15,684,889 | ||||||
ONEOK Inc. |
||||||||
3.10%, 03/15/30 (Call 12/15/29)(a) |
10,024 | 8,656,560 | ||||||
3.40%, 09/01/29 (Call 06/01/29) |
7,608 | 6,737,166 | ||||||
4.55%, 07/15/28 (Call 04/15/28) |
8,626 | 8,372,006 | ||||||
5.20%, 07/15/48 (Call 01/15/48)(a) |
8,752 | 7,858,898 | ||||||
Plains All American Pipeline LP/PAA Finance Corp. |
||||||||
3.55%, 12/15/29 (Call 09/15/29)(a) |
11,699 | 10,253,931 | ||||||
3.80%, 09/15/30 (Call 06/15/30)(a) |
11,118 | 9,857,158 | ||||||
4.50%, 12/15/26 (Call 09/15/26)(a) |
6,700 | 6,543,153 | ||||||
4.65%, 10/15/25 (Call 07/15/25) |
6,753 | 6,687,737 | ||||||
Sabine Pass Liquefaction LLC |
||||||||
4.20%, 03/15/28 (Call 09/15/27) |
10,850 | 10,366,562 | ||||||
4.50%, 05/15/30 (Call 11/15/29)(a) |
23,011 | 21,997,312 | ||||||
5.00%, 03/15/27 (Call 09/15/26) |
14,136 | 14,095,140 | ||||||
5.88%, 06/30/26 (Call 12/31/25) |
14,575 | 15,011,387 | ||||||
Targa Resources Corp. |
||||||||
4.20%, 02/01/33 (Call 11/01/32)(a) |
9,583 | 8,632,504 | ||||||
4.95%, 04/15/52 (Call 10/15/51)(a) |
7,793 | 6,728,681 | ||||||
5.20%, 07/01/27 (Call 06/01/27) |
9,660 | 9,651,161 | ||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp. |
||||||||
4.00%, 01/15/32 (Call 07/15/26)(a) |
13,917 | 12,177,236 | ||||||
4.88%, 02/01/31 (Call 02/01/26)(a) |
12,178 | 11,263,554 | ||||||
5.50%, 03/01/30 (Call 03/01/25) |
9,442 | 9,150,586 | ||||||
6.50%, 07/15/27 (Call 10/03/22)(a) |
10,924 | 11,238,065 | ||||||
TransCanada PipeLines Ltd. |
||||||||
2.50%, 10/12/31 (Call 07/12/31)(a) |
15,755 | 12,949,116 | ||||||
4.10%, 04/15/30 (Call 01/15/30)(a) |
12,699 | 12,073,917 |
Security |
Par |
Value | ||||||
Pipelines (continued) | ||||||||
4.25%, 05/15/28 (Call 02/15/28) |
$ | 16,933 | $ | 16,483,309 | ||||
4.63%, 03/01/34 (Call 12/01/33)(a) |
11,221 | 10,715,731 | ||||||
4.88%, 01/15/26 (Call 10/15/25)(a) |
6,656 | 6,724,251 | ||||||
4.88%, 05/15/48 (Call 11/15/47)(a) |
8,891 | 8,461,037 | ||||||
5.10%, 03/15/49 (Call 09/15/48)(a) |
10,456 | 10,353,586 | ||||||
6.10%, 06/01/40(a) |
9,056 | 9,593,853 | ||||||
6.20%, 10/15/37(a) |
13,344 | 14,367,712 | ||||||
7.63%, 01/15/39(a) |
13,135 | 16,044,020 | ||||||
Transcontinental
Gas Pipe Line Co. LLC, |
10,063 | 11,004,689 | ||||||
Williams Companies Inc. (The) |
||||||||
2.60%, 03/15/31 (Call 12/15/30)(a) |
19,545 | 16,319,473 | ||||||
3.50%, 11/15/30 (Call 08/15/30) |
10,474 | 9,427,087 | ||||||
3.75%, 06/15/27 (Call 03/15/27) |
10,687 | 10,320,930 | ||||||
4.85%, 03/01/48 (Call 09/01/47)(a) |
7,476 | 6,732,483 | ||||||
5.10%, 09/15/45 (Call 03/15/45)(a) |
10,311 | 9,528,562 | ||||||
6.30%, 04/15/40(a) |
15,014 | 15,965,329 | ||||||
Williams Cos. Inc. |
||||||||
4.65%, 08/15/32 |
6,871 | 6,603,025 | ||||||
5.30%, 08/15/52(a) |
2,942 | 2,861,853 | ||||||
|
|
|||||||
1,088,903,366 | ||||||||
Real Estate Investment Trusts — 1.7% | ||||||||
Alexandria Real Estate Equities Inc. |
||||||||
1.88%, 02/01/33 (Call 11/01/32) |
9,324 | 7,007,125 | ||||||
2.00%, 05/18/32 (Call 02/18/32)(a) |
5,908 | 4,661,327 | ||||||
2.95%, 03/15/34 (Call 12/15/33)(a) |
9,415 | 7,930,735 | ||||||
3.00%, 05/18/51 (Call 11/18/50)(a) |
9,789 | 6,671,433 | ||||||
3.38%, 08/15/31 (Call 05/15/31) |
3,996 | 3,559,359 | ||||||
3.55%, 03/15/52 (Call 09/15/51) |
11,466 | 8,683,768 | ||||||
American Tower Corp. |
||||||||
1.88%, 10/15/30 (Call 07/15/30) |
8,845 | 6,967,539 | ||||||
2.10%, 06/15/30 (Call 03/15/30)(a) |
7,090 | 5,730,617 | ||||||
2.75%, 01/15/27 (Call 11/15/26) |
9,810 | 8,977,607 | ||||||
2.90%, 01/15/30 (Call 10/15/29)(a) |
7,962 | 6,860,840 | ||||||
2.95%, 01/15/51 (Call 07/15/50) |
10,508 | 7,067,018 | ||||||
3.10%, 06/15/50 (Call 12/15/49) |
12,347 | 8,602,813 | ||||||
3.38%, 10/15/26 (Call 07/15/26)(a) |
15,248 | 14,385,854 | ||||||
3.55%, 07/15/27 (Call 04/15/27) |
10,943 | 10,329,796 | ||||||
3.80%, 08/15/29 (Call 05/15/29)(a) |
15,170 | 14,015,090 | ||||||
Boston Properties LP |
||||||||
2.45%, 10/01/33 (Call 07/01/33)(a) |
11,450 | 8,661,821 | ||||||
2.55%, 04/01/32 (Call 01/01/32)(a) |
5,804 | 4,602,645 | ||||||
2.75%, 10/01/26 (Call 07/01/26)(a) |
10,391 | 9,688,031 | ||||||
3.25%, 01/30/31 (Call 10/30/30) |
15,649 | 13,498,316 | ||||||
3.40%, 06/21/29 (Call 03/21/29) |
8,682 | 7,780,212 | ||||||
3.65%, 02/01/26 (Call 11/03/25)(a) |
8,924 | 8,684,191 | ||||||
4.50%, 12/01/28 (Call 09/01/28) |
7,164 | 6,976,297 | ||||||
Brixmor Operating Partnership LP |
||||||||
4.05%, 07/01/30 (Call 04/01/30)(a) |
5,883 | 5,227,177 | ||||||
4.13%, 05/15/29 (Call 02/15/29) |
8,884 | 8,178,306 | ||||||
Crown Castle Inc. |
||||||||
1.05%, 07/15/26 (Call 06/15/26)(a) |
10,826 | 9,480,990 | ||||||
2.10%, 04/01/31 (Call 01/01/31)(a) |
10,972 | 8,737,894 | ||||||
2.25%, 01/15/31 (Call 10/15/30) |
14,172 | 11,488,041 | ||||||
2.90%, 04/01/41 (Call 10/01/40) |
14,030 | 10,053,939 | ||||||
3.25%, 01/15/51 (Call 07/15/50)(a) |
10,005 | 7,110,452 | ||||||
3.30%, 07/01/30 (Call 04/01/30)(a) |
10,348 | 9,174,000 | ||||||
3.65%, 09/01/27 (Call 06/01/27)(a) |
10,624 | 10,120,536 | ||||||
3.70%, 06/15/26 (Call 03/15/26)(a) |
10,438 | 10,097,845 | ||||||
3.80%, 02/15/28 (Call 11/15/27) |
8,660 | 8,180,452 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Real Estate Investment Trusts (continued) | ||||||||
4.45%, 02/15/26 (Call 11/15/25)(a) |
$ | 10,901 | $ | 10,849,197 | ||||
Crown Castle International Corp. |
||||||||
2.50%, 07/15/31 (Call 04/15/31) |
8,806 | 7,212,505 | ||||||
2.90%, 03/15/27 (Call 02/15/27)(a) |
8,291 | 7,681,850 | ||||||
Digital Realty Trust LP |
||||||||
3.60%, 07/01/29 (Call 04/01/29)(a) |
8,527 | 7,859,873 | ||||||
3.70%, 08/15/27 (Call 05/15/27)(a) |
10,670 | 10,180,579 | ||||||
Equinix Inc. |
||||||||
2.15%, 07/15/30 (Call 04/15/30)(a) |
11,550 | 9,428,208 | ||||||
2.50%, 05/15/31 (Call 02/15/31) |
13,007 | 10,674,697 | ||||||
3.20%, 11/18/29 (Call 08/18/29)(a) |
15,034 | 13,456,339 | ||||||
3.90%, 04/15/32 (Call 01/15/32)(a) |
9,494 | 8,618,587 | ||||||
ERP
Operating LP, |
8,412 | 7,848,171 | ||||||
GLP Capital LP/GLP Financing II Inc. |
||||||||
3.25%, 01/15/32 (Call 10/15/31)(a) |
8,635 | 6,930,062 | ||||||
5.30%, 01/15/29 (Call 10/15/28)(a) |
8,624 | 8,327,743 | ||||||
5.38%, 04/15/26 (Call 01/15/26)(a) |
5,888 | 5,793,867 | ||||||
Healthcare
Realty Holdings LP, |
5,635 | 4,389,784 | ||||||
Healthpeak Properties Inc., 3.00%, 01/15/30 (Call 10/15/29)(a) |
9,929 | 8,785,821 | ||||||
Prologis LP |
||||||||
1.25%, 10/15/30 (Call 07/15/30)(a) |
8,789 | 7,032,231 | ||||||
2.25%, 04/15/30 (Call 01/15/30)(a) |
10,285 | 8,948,643 | ||||||
Realty
Income Corp., |
8,928 | 8,016,631 | ||||||
Simon Property Group LP |
||||||||
1.75%, 02/01/28 (Call 11/01/27) |
10,592 | 9,173,721 | ||||||
2.45%, 09/13/29 (Call 06/13/29) |
12,583 | 10,863,288 | ||||||
2.65%, 07/15/30 (Call 04/15/30)(a) |
3,728 | 3,208,171 | ||||||
3.25%, 11/30/26 (Call 08/30/26)(a) |
10,452 | 10,047,049 | ||||||
3.25%, 09/13/49 (Call 03/13/49) |
13,966 | 10,115,282 | ||||||
3.30%, 01/15/26 (Call 10/15/25) |
12,843 | 12,475,968 | ||||||
3.38%, 06/15/27 (Call 03/15/27) |
8,373 | 8,014,377 | ||||||
3.38%, 12/01/27 (Call 09/01/27)(a) |
7,333 | 6,937,464 | ||||||
3.50%, 09/01/25 (Call 06/01/25) |
3,650 | 3,597,368 | ||||||
3.80%, 07/15/50 (Call 01/15/50)(a) |
6,472 | 5,254,698 | ||||||
Ventas
Realty LP, |
9,294 | 8,944,240 | ||||||
VICI Properties LP |
||||||||
4.75%, 02/15/28 (Call 01/15/28)(a) |
13,424 | 12,856,098 | ||||||
4.95%, 02/15/30 (Call 12/15/29)(a) |
11,145 | 10,651,113 | ||||||
5.13%, 05/15/32 (Call 02/15/32)(a) |
13,553 | 12,867,828 | ||||||
5.63%, 05/15/52 (Call 11/15/51)(a) |
7,449 | 6,869,304 | ||||||
Welltower Inc. |
||||||||
2.80%, 06/01/31 (Call 03/01/31)(a) |
7,680 | 6,472,682 | ||||||
3.10%, 01/15/30 (Call 10/15/29)(a) |
6,285 | 5,543,378 | ||||||
4.25%, 04/15/28 (Call 01/15/28)(a) |
10,372 | 10,099,179 | ||||||
Weyerhaeuser Co. |
||||||||
4.00%, 11/15/29 (Call 08/15/29) |
7,945 | 7,507,575 | ||||||
4.00%, 04/15/30 (Call 01/15/30)(a) |
10,167 | 9,561,111 | ||||||
|
|
|||||||
602,286,748 | ||||||||
Retail — 3.1% | ||||||||
AutoZone Inc. |
||||||||
4.00%, 04/15/30 (Call 01/15/30) |
10,768 | 10,228,223 | ||||||
4.75%, 08/01/32 (Call 05/01/32) |
713 | 707,315 | ||||||
Costco Wholesale Corp. |
||||||||
1.38%, 06/20/27 (Call 04/20/27) |
15,151 | 13,591,805 | ||||||
1.60%, 04/20/30 (Call 01/20/30) |
21,573 | 18,194,019 | ||||||
1.75%, 04/20/32 (Call 01/20/32) |
8,940 | 7,358,039 | ||||||
3.00%, 05/18/27 (Call 02/18/27)(a) |
11,683 | 11,378,483 |
Security |
Par |
Value | ||||||
Retail (continued) | ||||||||
Dollar General Corp., 3.50%, 04/03/30 (Call 01/03/30)(a) |
$ | 11,317 | $ | 10,435,925 | ||||
Dollar Tree Inc. |
||||||||
2.65%, 12/01/31 (Call 09/01/31) |
8,987 | 7,491,864 | ||||||
4.20%, 05/15/28 (Call 02/15/28)(a) |
13,301 | 12,977,235 | ||||||
Home Depot Inc. (The) |
||||||||
1.38%, 03/15/31 (Call 12/15/30) |
13,057 | 10,495,444 | ||||||
1.50%, 09/15/28 (Call 07/15/28)(a) |
9,473 | 8,223,171 | ||||||
1.88%, 09/15/31 (Call 06/15/31)(a) |
10,435 | 8,621,566 | ||||||
2.13%, 09/15/26 (Call 06/15/26)(a) |
11,392 | 10,701,254 | ||||||
2.38%, 03/15/51 (Call 09/15/50) |
13,650 | 8,939,722 | ||||||
2.50%, 04/15/27 (Call 02/15/27)(a) |
12,254 | 11,564,366 | ||||||
2.70%, 04/15/30 (Call 01/15/30) |
18,323 | 16,496,789 | ||||||
2.75%, 09/15/51 (Call 03/15/51) |
11,486 | 8,207,580 | ||||||
2.80%, 09/14/27 (Call 06/14/27)(a) |
12,333 | 11,728,097 | ||||||
2.88%, 04/15/27 (Call 03/15/27) |
10,772 | 10,364,884 | ||||||
2.95%, 06/15/29 (Call 03/15/29)(a) |
19,073 | 17,721,016 | ||||||
3.00%, 04/01/26 (Call 01/01/26)(a) |
14,651 | 14,240,743 | ||||||
3.13%, 12/15/49 (Call 06/15/49) |
13,490 | 10,349,042 | ||||||
3.25%, 04/15/32 (Call 01/15/32)(a) |
15,135 | 13,987,095 | ||||||
3.30%, 04/15/40 (Call 10/15/39)(a) |
12,256 | 10,250,483 | ||||||
3.35%, 09/15/25 (Call 06/15/25)(a) |
5,744 | 5,700,591 | ||||||
3.35%, 04/15/50 (Call 10/15/49)(a) |
15,413 | 12,298,002 | ||||||
3.50%, 09/15/56 (Call 03/15/56)(a) |
9,590 | 7,705,970 | ||||||
3.63%, 04/15/52 (Call 10/15/51)(a) |
18,770 | 15,691,675 | ||||||
3.90%, 12/06/28 (Call 09/06/28)(a) |
15,984 | 15,845,371 | ||||||
3.90%, 06/15/47 (Call 12/15/46)(a) |
11,708 | 10,266,216 | ||||||
4.20%, 04/01/43 (Call 10/01/42)(a) |
10,054 | 9,225,171 | ||||||
4.25%, 04/01/46 (Call 10/01/45)(a) |
17,011 | 15,779,126 | ||||||
4.40%, 03/15/45 (Call 09/15/44)(a) |
11,445 | 10,785,795 | ||||||
4.50%, 12/06/48 (Call 06/06/48) |
16,103 | 15,465,721 | ||||||
4.88%, 02/15/44 (Call 08/15/43)(a) |
9,627 | 9,570,186 | ||||||
5.88%, 12/16/36(a) |
35,020 | 39,311,403 | ||||||
5.95%, 04/01/41 (Call 10/01/40)(a) |
9,306 | 10,448,941 | ||||||
Lowe’s Companies Inc. |
||||||||
1.30%, 04/15/28 (Call 02/15/28)(a) |
9,594 | 8,141,460 | ||||||
1.70%, 09/15/28 (Call 07/15/28)(a) |
11,579 | 9,951,987 | ||||||
1.70%, 10/15/30 (Call 07/15/30)(a) |
14,671 | 11,761,453 | ||||||
2.50%, 04/15/26 (Call 01/15/26)(a) |
12,365 | 11,755,768 | ||||||
2.63%, 04/01/31 (Call 01/01/31) |
19,084 | 16,370,242 | ||||||
2.80%, 09/15/41 (Call 03/15/41) |
13,553 | 9,634,883 | ||||||
3.00%, 10/15/50 (Call 04/15/50) |
15,761 | 10,785,025 | ||||||
3.10%, 05/03/27 (Call 02/03/27)(a) |
14,199 | 13,477,865 | ||||||
3.35%, 04/01/27 (Call 03/01/27)(a) |
13,840 | 13,337,287 | ||||||
3.38%, 09/15/25 (Call 06/15/25)(a) |
7,206 | 7,062,237 | ||||||
3.65%, 04/05/29 (Call 01/05/29)(a) |
12,260 | 11,579,158 | ||||||
3.70%, 04/15/46 (Call 10/15/45)(a) |
13,135 | 10,448,242 | ||||||
3.75%, 04/01/32 (Call 01/01/32)(a) |
15,925 | 14,676,206 | ||||||
4.05%, 05/03/47 (Call 11/03/46)(a) |
17,283 | 14,345,213 | ||||||
4.25%, 04/01/52 (Call 10/01/51)(a) |
15,219 | 12,993,555 | ||||||
4.45%, 04/01/62 (Call 10/01/61) |
15,807 | 13,351,922 | ||||||
4.50%, 04/15/30 (Call 01/15/30)(a) |
14,480 | 14,299,588 | ||||||
McDonald’s Corp. |
||||||||
2.13%, 03/01/30 (Call 12/01/29)(a) |
8,283 | 7,115,238 | ||||||
2.63%, 09/01/29 (Call 06/01/29)(a) |
8,491 | 7,632,103 | ||||||
3.50%, 03/01/27 (Call 12/01/26)(a) |
10,667 | 10,447,808 | ||||||
3.50%, 07/01/27 (Call 05/01/27)(a) |
12,586 | 12,228,802 | ||||||
3.60%, 07/01/30 (Call 04/01/30) |
10,326 | 9,789,092 | ||||||
3.63%, 09/01/49 (Call 03/01/49) |
16,025 | 12,936,553 | ||||||
3.70%, 01/30/26 (Call 10/30/25)(a) |
16,873 | 16,715,943 |
46 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Retail (continued) | ||||||||
3.80%, 04/01/28 (Call 01/01/28) |
$ | 11,518 | $ | 11,303,638 | ||||
4.20%, 04/01/50 (Call 10/01/49)(a) |
11,424 | 10,083,614 | ||||||
4.45%, 03/01/47 (Call 09/01/46) |
10,845 | 10,045,658 | ||||||
4.45%, 09/01/48 (Call 03/01/48)(a) |
8,133 | 7,555,568 | ||||||
4.70%, 12/09/35 (Call 06/09/35) |
4,796 | 4,788,718 | ||||||
4.88%, 12/09/45 (Call 06/09/45)(a) |
20,094 | 19,569,683 | ||||||
6.30%, 10/15/37(a) |
10,633 | 12,019,882 | ||||||
6.30%, 03/01/38(a) |
7,996 | 9,060,544 | ||||||
O’Reilly Automotive Inc. |
||||||||
3.60%, 09/01/27 (Call 06/01/27)(a) |
11,923 | 11,497,647 | ||||||
4.70%, 06/15/32 (Call 03/15/32)(a) |
9,521 | 9,427,672 | ||||||
Starbucks Corp. |
||||||||
2.25%, 03/12/30 (Call 12/12/29)(a) |
10,110 | 8,588,459 | ||||||
2.55%, 11/15/30 (Call 08/15/30)(a) |
11,973 | 10,270,120 | ||||||
3.00%, 02/14/32 (Call 11/14/31)(a) |
11,030 | 9,634,154 | ||||||
3.50%, 11/15/50 (Call 05/15/50) |
12,187 | 9,368,320 | ||||||
3.55%, 08/15/29 (Call 05/15/29)(a) |
10,930 | 10,264,954 | ||||||
4.00%, 11/15/28 (Call 08/15/28)(a) |
10,324 | 10,111,851 | ||||||
4.45%, 08/15/49 (Call 02/15/49)(a) |
11,292 | 10,085,990 | ||||||
4.50%, 11/15/48 (Call 05/15/48)(a) |
11,438 | 10,317,036 | ||||||
Target Corp. |
||||||||
1.95%, 01/15/27 (Call 12/15/26)(a) |
10,112 | 9,397,983 | ||||||
2.35%, 02/15/30 (Call 11/15/29)(a) |
5,228 | 4,604,749 | ||||||
2.50%, 04/15/26(a) |
14,202 | 13,622,610 | ||||||
2.95%, 01/15/52 (Call 07/15/51)(a) |
13,037 | 9,826,972 | ||||||
3.38%, 04/15/29 (Call 01/15/29)(a) |
11,183 | 10,742,213 | ||||||
4.00%, 07/01/42(a) |
7,935 | 7,287,420 | ||||||
TJX Companies Inc. (The), 2.25%, 09/15/26 (Call 06/15/26)(a) |
12,793 | 12,092,458 | ||||||
Walgreens Boots Alliance Inc. |
||||||||
3.45%, 06/01/26 (Call 03/01/26)(a) |
5,954 | 5,781,452 | ||||||
4.10%, 04/15/50 (Call 10/15/49) |
7,167 | 5,667,138 | ||||||
4.80%, 11/18/44 (Call 05/18/44)(a) |
1,500 | 1,316,213 | ||||||
Walmart Inc. |
||||||||
2.50%, 09/22/41 (Call 03/22/41)(a) |
23,986 | 18,548,511 | ||||||
2.65%, 09/22/51 (Call 03/22/51)(a) |
20,116 | 15,089,251 | ||||||
3.05%, 07/08/26 (Call 05/08/26) |
8,614 | 8,463,666 | ||||||
3.70%, 06/26/28 (Call 03/26/28)(a) |
21,400 | 21,164,268 | ||||||
4.05%, 06/29/48 (Call 12/29/47) |
17,551 | 16,775,449 | ||||||
5.25%, 09/01/35(a) |
11,175 | 12,256,140 | ||||||
6.20%, 04/15/38(a) |
2,551 | 3,090,106 | ||||||
6.50%, 08/15/37(a) |
2,853 | 3,553,549 | ||||||
|
|
|||||||
1,086,459,614 | ||||||||
Semiconductors — 3.2% | ||||||||
Analog Devices Inc. |
||||||||
1.70%, 10/01/28 (Call 08/01/28) |
12,445 | 10,896,184 | ||||||
2.10%, 10/01/31 (Call 07/01/31)(a) |
7,618 | 6,457,325 | ||||||
2.80%, 10/01/41 (Call 04/01/41)(a) |
5,661 | 4,408,949 | ||||||
2.95%, 10/01/51 (Call 04/01/51)(a) |
10,878 | 8,237,748 | ||||||
3.50%, 12/05/26 (Call 09/05/26)(a) |
10,247 | 10,072,073 | ||||||
Applied Materials Inc. |
||||||||
1.75%, 06/01/30 (Call 03/01/30) |
12,188 | 10,237,571 | ||||||
2.75%, 06/01/50 (Call 12/01/49) |
5,991 | 4,444,381 | ||||||
3.30%, 04/01/27 (Call 01/01/27)(a) |
11,740 | 11,482,133 | ||||||
4.35%, 04/01/47 (Call 10/01/46)(a) |
10,625 | 10,317,385 | ||||||
Broadcom Corp./Broadcom Cayman Finance Ltd. |
||||||||
3.50%, 01/15/28 (Call 10/15/27)(a) |
12,891 | 11,917,612 | ||||||
3.88%, 01/15/27 (Call 10/15/26)(a) |
31,557 | 30,308,349 | ||||||
Broadcom Inc. |
||||||||
1.95%, 02/15/28 (Call 12/15/27)(a)(c) |
7,552 | 6,454,578 |
Security |
Par |
Value | ||||||
Semiconductors (continued) | ||||||||
2.45%, 02/15/31 (Call 11/15/30)(c) |
$ | 31,068 | $ | 24,760,435 | ||||
2.60%, 02/15/33 (Call 11/15/32)(c) |
15,298 | 11,776,215 | ||||||
3.14%, 11/15/35 (Call 08/15/35)(c) |
31,422 | 23,766,891 | ||||||
3.15%, 11/15/25 (Call 10/15/25)(a) |
6,415 | 6,160,978 | ||||||
3.19%, 11/15/36 (Call 08/15/36)(a)(c) |
26,401 | 19,601,882 | ||||||
3.42%, 04/15/33 (Call 01/15/33)(c) |
24,495 | 20,176,977 | ||||||
3.46%, 09/15/26 (Call 07/15/26)(a) |
9,981 | 9,573,687 | ||||||
3.47%, 04/15/34 (Call 01/15/34)(c) |
32,012 | 25,941,337 | ||||||
3.50%, 02/15/41 (Call 08/15/40)(a)(c) |
31,199 | 23,475,694 | ||||||
3.75%, 02/15/51 (Call 08/15/50)(a)(c) |
15,386 | 11,255,581 | ||||||
4.00%, 04/15/29 (Call 02/15/29)(a)(c) |
11,767 | 10,893,278 | ||||||
4.11%, 09/15/28 (Call 06/15/28) |
4,567 | 4,339,757 | ||||||
4.15%, 11/15/30 (Call 08/15/30) |
19,684 | 17,984,995 | ||||||
4.15%, 04/15/32 (Call 01/15/32)(a)(c) |
12,054 | 10,771,149 | ||||||
4.30%, 11/15/32 (Call 08/15/32)(a) |
19,395 | 17,517,343 | ||||||
4.75%, 04/15/29 (Call 01/15/29) |
2,425 | 2,378,884 | ||||||
4.93%, 05/15/37 (Call 02/15/37)(c) |
46,559 | 41,456,567 | ||||||
Intel Corp. |
||||||||
1.60%, 08/12/28 (Call 06/12/28) |
8,732 | 7,576,480 | ||||||
2.00%, 08/12/31 (Call 05/12/31)(a) |
12,579 | 10,382,841 | ||||||
2.45%, 11/15/29 (Call 08/15/29) |
18,760 | 16,444,468 | ||||||
2.60%, 05/19/26 (Call 02/19/26) |
6,312 | 6,052,418 | ||||||
2.80%, 08/12/41 (Call 02/12/41)(a) |
8,985 | 6,651,797 | ||||||
3.05%, 08/12/51 (Call 02/12/51) |
14,162 | 10,127,888 | ||||||
3.10%, 02/15/60 (Call 08/15/59) |
10,209 | 6,979,740 | ||||||
3.15%, 05/11/27 (Call 02/11/27)(a) |
11,338 | 10,920,517 | ||||||
3.20%, 08/12/61 (Call 02/12/61)(a) |
7,314 | 5,131,743 | ||||||
3.25%, 11/15/49 (Call 05/15/49) |
18,747 | 13,966,294 | ||||||
3.73%, 12/08/47 (Call 06/08/47) |
21,291 | 17,387,896 | ||||||
3.75%, 03/25/27 (Call 01/25/27)(a) |
9,829 | 9,692,169 | ||||||
3.75%, 08/05/27(a) |
7,378 | 7,247,028 | ||||||
3.90%, 03/25/30 (Call 12/25/29) |
12,963 | 12,467,369 | ||||||
4.00%, 08/05/29 |
7,363 | 7,163,056 | ||||||
4.00%, 12/15/32(a) |
9,422 | 9,030,694 | ||||||
4.10%, 05/19/46 (Call 11/19/45)(a) |
15,341 | 13,450,314 | ||||||
4.10%, 05/11/47 (Call 11/11/46)(a) |
10,761 | 9,386,821 | ||||||
4.15%, 08/05/32(a) |
8,094 | 7,827,117 | ||||||
4.60%, 03/25/40 (Call 09/25/39) |
7,194 | 6,817,684 | ||||||
4.75%, 03/25/50 (Call 09/25/49)(a) |
26,550 | 25,232,645 | ||||||
4.80%, 10/01/41(a) |
6,921 | 6,682,112 | ||||||
4.90%, 07/29/45 (Call 01/29/45)(a) |
7,634 | 7,449,210 | ||||||
4.90%, 08/05/52 |
17,376 | 16,925,350 | ||||||
4.95%, 03/25/60 (Call 09/25/59)(a) |
10,069 | 9,666,259 | ||||||
5.05%, 08/05/62 |
10,608 | 10,265,185 | ||||||
KLA Corp. |
||||||||
3.30%, 03/01/50 (Call 08/28/49)(a) |
8,703 | 6,775,473 | ||||||
4.10%, 03/15/29 (Call 12/15/28)(a) |
4,949 | 4,919,383 | ||||||
4.65%, 07/15/32 (Call 04/15/32)(a) |
8,968 | 9,117,442 | ||||||
4.95%, 07/15/52 (Call 01/15/52) |
13,604 | 13,649,163 | ||||||
5.25%, 07/15/62 (Call 01/15/62) |
7,016 | 7,156,567 | ||||||
Lam Research Corp. |
||||||||
1.90%, 06/15/30 (Call 03/15/30) |
11,633 | 9,757,353 | ||||||
2.88%, 06/15/50 (Call 12/15/49) |
4,776 | 3,512,891 | ||||||
3.75%, 03/15/26 (Call 01/15/26) |
12,111 | 12,063,766 | ||||||
4.00%, 03/15/29 (Call 12/15/28)(a) |
8,270 | 8,122,156 | ||||||
4.88%, 03/15/49 (Call 09/15/48)(a) |
8,510 | 8,643,161 | ||||||
Marvell Technology Inc. |
||||||||
2.45%, 04/15/28 (Call 02/15/28)(a) |
8,219 | 7,147,961 | ||||||
2.95%, 04/15/31 (Call 01/15/31)(a) |
9,338 | 7,668,468 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par |
Value | ||||||
Semiconductors (continued) | ||||||||
Microchip Technology Inc., 4.25%, 09/01/25 (Call 10/03/22) |
$ | 5,192 | $ | 5,143,896 | ||||
Micron Technology Inc. |
||||||||
2.70%, 04/15/32 (Call 01/15/32) |
11,096 | 8,635,965 | ||||||
4.19%, 02/15/27 (Call 12/15/26)(a) |
14,593 | 14,229,757 | ||||||
4.66%, 02/15/30 (Call 11/15/29) |
11,033 | 10,347,781 | ||||||
NVIDIA Corp. |
||||||||
1.55%, 06/15/28 (Call 04/15/28) |
16,344 | 14,260,568 | ||||||
2.00%, 06/15/31 (Call 03/15/31)(a) |
13,881 | 11,657,497 | ||||||
2.85%, 04/01/30 (Call 01/01/30) |
17,222 | 15,562,541 | ||||||
3.20%, 09/16/26 (Call 06/16/26)(a) |
11,234 | 11,057,132 | ||||||
3.50%, 04/01/40 (Call 10/01/39) |
13,889 | 11,930,308 | ||||||
3.50%, 04/01/50 (Call 10/01/49)(a) |
18,044 | 14,947,406 | ||||||
NXP BV/NXP Funding LLC/NXP USA Inc. |
||||||||
2.50%, 05/11/31 (Call 02/11/31)(a) |
10,824 | 8,699,287 | ||||||
2.65%, 02/15/32 (Call 11/15/31)(a) |
9,468 | 7,640,077 | ||||||
3.25%, 05/11/41 (Call 11/11/40)(a) |
12,985 | 9,427,245 | ||||||
3.40%, 05/01/30 (Call 02/01/30) |
9,554 | 8,427,421 | ||||||
3.88%, 06/18/26 (Call 04/18/26) |
11,008 | 10,645,552 | ||||||
4.30%, 06/18/29 (Call 03/18/29) |
12,766 | 12,038,614 | ||||||
5.00%, 01/15/33 (Call 10/15/32) |
9,563 | 9,218,777 | ||||||
Qorvo Inc., 4.38%, 10/15/29 (Call 10/15/24)(a) |
10,286 | 9,102,146 | ||||||
QUALCOMM Inc. |
||||||||
1.30%, 05/20/28 (Call 02/20/28)(a) |
12,739 | 10,996,619 | ||||||
1.65%, 05/20/32 (Call 02/20/32)(a) |
4,265 | 3,424,602 | ||||||
2.15%, 05/20/30 (Call 02/20/30)(a) |
15,017 | 13,134,934 | ||||||
3.25%, 05/20/27 (Call 02/20/27)(a) |
20,663 | 20,159,701 | ||||||
3.25%, 05/20/50 (Call 11/20/49)(a) |
7,019 | 5,661,939 | ||||||
4.30%, 05/20/47 (Call 11/20/46)(a) |
17,239 | 16,266,913 | ||||||
4.50%, 05/20/52 (Call 11/20/51) |
12,559 | 12,123,023 | ||||||
4.65%, 05/20/35 (Call 11/20/34)(a) |
9,486 | 9,583,681 | ||||||
4.80%, 05/20/45 (Call 11/20/44)(a) |
14,963 | 15,008,411 | ||||||
Texas Instruments Inc. |
||||||||
1.75%, 05/04/30 (Call 02/04/30) |
11,325 | 9,653,141 | ||||||
2.25%, 09/04/29 (Call 06/04/29) |
10,232 | 9,138,223 | ||||||
3.88%, 03/15/39 (Call 09/15/38) |
6,941 | 6,478,692 | ||||||
4.15%, 05/15/48 (Call 11/15/47)(a) |
16,275 | 15,541,587 | ||||||
Xilinx Inc., 2.38%, 06/01/30 (Call 03/01/30) |
3,666 | 3,201,690 | ||||||
|
|
|||||||
1,119,869,943 | ||||||||
Software — 3.6% | ||||||||
Activision Blizzard Inc. |
||||||||
2.50%, 09/15/50 (Call 03/15/50) |
15,267 | 10,154,734 | ||||||
3.40%, 09/15/26 (Call 06/15/26)(a) |
16,271 | 15,901,017 | ||||||
Adobe Inc. |
||||||||
2.15%, 02/01/27 (Call 12/01/26) |
8,850 | 8,284,574 | ||||||
2.30%, 02/01/30 (Call 11/01/29)(a) |
15,621 | 13,848,185 | ||||||
Autodesk
Inc., |
12,231 | 10,113,219 | ||||||
Broadridge Financial Solutions Inc. |
||||||||
2.60%, 05/01/31 (Call 02/01/31)(a) |
13,337 | 11,176,051 | ||||||
2.90%, 12/01/29 (Call 09/01/29) |
4,805 | 4,222,635 | ||||||
Citrix Systems Inc. |
||||||||
1.25%, 03/01/26 (Call 02/01/26)(a) |
9,852 | 9,645,016 | ||||||
3.30%, 03/01/30 (Call 12/01/29) |
10,695 | 10,561,405 | ||||||
4.50%, 12/01/27 (Call 09/01/27) |
11,097 | 11,110,597 | ||||||
Fidelity National Information Services Inc. |
||||||||
1.15%, 03/01/26 (Call 02/01/26)(a) |
12,669 | 11,287,666 | ||||||
1.65%, 03/01/28 (Call 01/01/28)(a) |
11,720 | 10,023,087 | ||||||
2.25%, 03/01/31 (Call 12/01/30)(a) |
13,501 | 10,964,801 | ||||||
3.10%, 03/01/41 (Call 09/01/40) |
8,332 | 6,028,866 | ||||||
5.10%, 07/15/32 (Call 04/15/32)(a) |
7,224 | 7,206,167 |
Security |
Par |
Value | ||||||
Software (continued) | ||||||||
Fiserv Inc. |
||||||||
2.25%, 06/01/27 (Call 04/01/27)(a) |
$ | 9,180 | $ | 8,257,836 | ||||
2.65%, 06/01/30 (Call 03/01/30)(a) |
13,977 | 11,912,256 | ||||||
3.20%, 07/01/26 (Call 05/01/26)(a) |
22,244 | 21,182,857 | ||||||
3.50%, 07/01/29 (Call 04/01/29) |
29,366 | 26,841,355 | ||||||
4.20%, 10/01/28 (Call 07/01/28)(a) |
7,894 | 7,660,841 | ||||||
4.40%, 07/01/49 (Call 01/01/49)(a) |
20,374 | 17,626,894 | ||||||
Microsoft Corp. |
||||||||
2.40%, 08/08/26 (Call 05/08/26) |
40,830 | 39,029,626 | ||||||
2.53%, 06/01/50 (Call 12/01/49) |
74,424 | 53,993,831 | ||||||
2.68%, 06/01/60 (Call 12/01/59) |
39,894 | 28,208,976 | ||||||
2.92%, 03/17/52 (Call 09/17/51) |
67,775 | 52,980,443 | ||||||
3.04%, 03/17/62 (Call 09/17/61) |
20,363 | 15,531,833 | ||||||
3.13%, 11/03/25 (Call 08/03/25)(a) |
24,104 | 23,694,225 | ||||||
3.30%, 02/06/27 (Call 11/06/26)(a) |
44,254 | 43,478,661 | ||||||
3.45%, 08/08/36 (Call 02/08/36)(a) |
15,794 | 14,837,466 | ||||||
3.50%, 02/12/35 (Call 08/12/34)(a) |
17,679 | 16,797,569 | ||||||
3.70%, 08/08/46 (Call 02/08/46)(a) |
17,997 | 16,487,638 | ||||||
4.10%, 02/06/37 (Call 08/06/36)(a) |
10,992 | 11,030,696 | ||||||
4.25%, 02/06/47 (Call 08/06/46)(a) |
12,473 | 12,359,736 | ||||||
4.45%, 11/03/45 (Call 05/03/45)(a) |
7,536 | 7,670,660 | ||||||
4.50%, 02/06/57 (Call 08/06/56)(a) |
6,704 | 6,868,886 | ||||||
Oracle Corp. |
||||||||
1.65%, 03/25/26 (Call 02/25/26) |
25,066 | 22,502,804 | ||||||
2.30%, 03/25/28 (Call 01/25/28)(a) |
20,521 | 17,855,560 | ||||||
2.65%, 07/15/26 (Call 04/15/26)(a) |
28,226 | 26,045,101 | ||||||
2.80%, 04/01/27 (Call 02/01/27)(a) |
21,170 | 19,346,293 | ||||||
2.88%, 03/25/31 (Call 12/25/30)(a) |
32,789 | 27,161,834 | ||||||
2.95%, 04/01/30 (Call 01/01/30)(a) |
32,750 | 27,991,271 | ||||||
3.25%, 11/15/27 (Call 08/15/27)(a) |
25,739 | 23,775,310 | ||||||
3.60%, 04/01/40 (Call 10/01/39) |
35,062 | 25,488,559 | ||||||
3.60%, 04/01/50 (Call 10/01/49) |
49,809 | 33,774,910 | ||||||
3.65%, 03/25/41 (Call 09/25/40) |
26,690 | 19,575,217 | ||||||
3.80%, 11/15/37 (Call 05/15/37) |
22,815 | 17,740,148 | ||||||
3.85%, 07/15/36 (Call 01/15/36)(a) |
12,363 | 9,869,211 | ||||||
3.85%, 04/01/60 (Call 10/01/59) |
34,808 | 23,079,089 | ||||||
3.90%, 05/15/35 (Call 11/15/34)(a) |
11,417 | 9,337,456 | ||||||
3.95%, 03/25/51 (Call 09/25/50) |
32,083 | 22,969,760 | ||||||
4.00%, 07/15/46 (Call 01/15/46) |
34,421 | 25,185,171 | ||||||
4.00%, 11/15/47 (Call 05/15/47)(a) |
25,782 | 18,668,450 | ||||||
4.10%, 03/25/61 (Call 09/25/60) |
16,389 | 11,401,088 | ||||||
4.13%, 05/15/45 (Call 11/15/44)(a) |
24,976 | 18,670,284 | ||||||
4.30%, 07/08/34 (Call 01/08/34) |
18,486 | 16,095,871 | ||||||
4.38%, 05/15/55 (Call 11/15/54)(a) |
12,823 | 9,568,496 | ||||||
4.50%, 07/08/44 (Call 01/08/44)(a) |
9,352 | 7,424,471 | ||||||
5.38%, 07/15/40 |
20,555 | 18,401,305 | ||||||
6.13%, 07/08/39 |
14,053 | 13,819,379 | ||||||
6.50%, 04/15/38 |
13,141 | 13,331,999 | ||||||
Roper Technologies Inc. |
||||||||
1.75%, 02/15/31 (Call 11/15/30) |
8,923 | 6,993,618 | ||||||
4.20%, 09/15/28 (Call 06/15/28)(a) |
10,788 | 10,529,296 | ||||||
salesforce.com Inc. |
||||||||
1.50%, 07/15/28 (Call 05/15/28)(a) |
10,827 | 9,490,652 | ||||||
1.95%, 07/15/31 (Call 04/15/31)(a) |
17,892 | 15,057,880 | ||||||
2.70%, 07/15/41 (Call 01/15/41)(a) |
12,066 | 9,187,505 | ||||||
2.90%, 07/15/51 (Call 01/15/51)(a) |
23,810 | 17,578,316 | ||||||
3.05%, 07/15/61 (Call 01/15/61)(a) |
14,244 | 10,283,671 | ||||||
3.70%, 04/11/28 (Call 01/11/28)(a) |
18,047 | 17,886,232 | ||||||
VMware Inc. |
||||||||
1.40%, 08/15/26 (Call 07/15/26)(a) |
15,814 | 13,943,024 |
48 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Software (continued) |
| |||||||
1.80%, 08/15/28 (Call 06/15/28)(a) |
$ | 12,451 | $ | 10,358,094 | ||||
2.20%, 08/15/31 (Call 05/15/31)(a) |
14,914 | 11,628,837 | ||||||
3.90%, 08/21/27 (Call 05/21/27) |
13,713 | 13,089,408 | ||||||
4.70%, 05/15/30 (Call 02/15/30) |
11,118 | 10,549,344 | ||||||
Workday Inc. |
||||||||
3.50%, 04/01/27 (Call 03/01/27)(a) |
10,495 | 10,009,242 | ||||||
3.70%, 04/01/29 (Call 02/01/29) |
8,130 | 7,631,707 | ||||||
3.80%, 04/01/32 (Call 01/01/32)(a) |
11,468 | 10,497,641 | ||||||
|
|
|||||||
1,250,773,809 | ||||||||
Telecommunications — 6.9% | ||||||||
AT&T Inc. |
||||||||
1.65%, 02/01/28 (Call 12/01/27) |
23,535 | 20,248,460 | ||||||
1.70%, 03/25/26 (Call 03/25/23)(a) |
32,817 | 29,973,827 | ||||||
2.25%, 02/01/32 (Call 11/01/31) |
25,377 | 20,479,706 | ||||||
2.30%, 06/01/27 (Call 04/01/27)(a) |
25,618 | 23,289,729 | ||||||
2.55%, 12/01/33 (Call 09/01/33) |
40,290 | 32,136,448 | ||||||
2.75%, 06/01/31 (Call 03/01/31)(a) |
27,224 | 23,330,747 | ||||||
3.30%, 02/01/52 (Call 08/01/51) |
9,466 | 6,827,051 | ||||||
3.50%, 06/01/41 (Call 12/01/40)(a) |
26,783 | 21,081,371 | ||||||
3.50%, 09/15/53 (Call 03/15/53)(a) |
78,735 | 57,984,658 | ||||||
3.55%, 09/15/55 (Call 03/15/55) |
78,514 | 57,381,242 | ||||||
3.65%, 06/01/51 (Call 12/01/50)(a) |
33,428 | 25,614,061 | ||||||
3.65%, 09/15/59 (Call 03/15/59) |
68,507 | 49,550,586 | ||||||
3.80%, 02/15/27 (Call 11/15/26) |
9,509 | 9,329,859 | ||||||
3.80%, 12/01/57 (Call 06/01/57) |
63,172 | 47,512,824 | ||||||
3.85%, 06/01/60 (Call 12/01/59)(a) |
14,854 | 11,257,974 | ||||||
4.10%, 02/15/28 (Call 11/15/27) |
20,915 | 20,386,541 | ||||||
4.25%, 03/01/27 (Call 12/01/26)(a) |
17,348 | 17,202,256 | ||||||
4.30%, 02/15/30 (Call 11/15/29) |
33,991 | 32,644,324 | ||||||
4.30%, 12/15/42 (Call 06/15/42)(a) |
15,360 | 13,308,555 | ||||||
4.35%, 03/01/29 (Call 12/01/28)(a) |
32,841 | 32,010,963 | ||||||
4.35%, 06/15/45 (Call 12/15/44)(a) |
13,965 | 12,033,400 | ||||||
4.50%, 05/15/35 (Call 11/15/34)(a) |
28,617 | 26,810,223 | ||||||
4.50%, 03/09/48 (Call 09/09/47) |
18,060 | 15,796,333 | ||||||
4.55%, 03/09/49 (Call 09/09/48)(a) |
11,468 | 10,149,506 | ||||||
4.75%, 05/15/46 (Call 11/15/45)(a) |
18,987 | 17,499,433 | ||||||
4.85%, 03/01/39 (Call 09/01/38) |
13,164 | 12,380,347 | ||||||
5.25%, 03/01/37 (Call 09/01/36)(a) |
10,768 | 10,743,949 | ||||||
5.65%, 02/15/47 (Call 08/15/46) |
8,401 | 8,683,658 | ||||||
Bell Telephone Co. of Canada or Bell Canada (The) |
||||||||
3.65%, 08/15/52 (Call 02/15/52) |
9,712 | 7,662,253 | ||||||
4.46%, 04/01/48 (Call 10/01/47)(a) |
11,271 | 10,195,466 | ||||||
British Telecommunications PLC, 9.63%, 12/15/30 |
33,669 | 41,420,924 | ||||||
Cisco Systems Inc. |
||||||||
2.50%, 09/20/26 (Call 06/20/26)(a) |
13,759 | 13,211,942 | ||||||
2.95%, 02/28/26(a) |
8,256 | 8,082,484 | ||||||
5.50%, 01/15/40 |
22,512 | 24,388,731 | ||||||
5.90%, 02/15/39 |
21,451 | 24,243,661 | ||||||
Corning Inc. |
||||||||
4.38%, 11/15/57 (Call 05/15/57) |
7,967 | 6,615,588 | ||||||
5.45%, 11/15/79 (Call 05/19/79)(a) |
10,567 | 9,718,168 | ||||||
Deutsche Telekom International Finance BV, 8.75%, 06/15/30 |
41,408 | 50,927,062 | ||||||
Motorola Solutions Inc. |
||||||||
2.30%, 11/15/30 (Call 08/15/30)(a) |
10,150 | 8,054,783 | ||||||
2.75%, 05/24/31 (Call 02/24/31) |
9,506 | 7,742,655 | ||||||
4.60%, 05/23/29 (Call 02/23/29)(a) |
7,359 | 7,096,310 | ||||||
Orange SA |
||||||||
5.38%, 01/13/42(a) |
12,121 | 12,508,596 | ||||||
5.50%, 02/06/44 (Call 08/06/43)(a) |
7,470 | 7,821,164 |
Security |
Par (000) |
Value | ||||||
Telecommunications (continued) |
| |||||||
9.00%, 03/01/31(a) |
$ | 28,762 | $ | 36,721,067 | ||||
Rogers Communications Inc. |
||||||||
3.20%, 03/15/27 (Call 02/15/27)(a)(c) |
13,430 | 12,782,748 | ||||||
3.70%, 11/15/49 (Call 05/15/49)(a) |
10,241 | 7,811,978 | ||||||
3.80%, 03/15/32 (Call 12/15/31)(a)(c) |
22,137 | 20,196,502 | ||||||
4.30%, 02/15/48 (Call 08/15/47) |
9,011 | 7,481,535 | ||||||
4.35%, 05/01/49 (Call 11/01/48)(a) |
13,219 | 11,065,733 | ||||||
4.50%, 03/15/42 (Call 09/15/41)(a)(c) |
10,259 | 9,042,390 | ||||||
4.55%, 03/15/52 (Call 09/15/51)(a)(c) |
25,356 | 22,313,389 | ||||||
5.00%, 03/15/44 (Call 09/15/43) |
12,282 | 11,185,856 | ||||||
Telefonica Emisiones SA |
||||||||
4.10%, 03/08/27(a) |
16,116 | 15,632,826 | ||||||
4.67%, 03/06/38(a) |
7,837 | 6,801,030 | ||||||
4.90%, 03/06/48(a) |
14,983 | 12,409,963 | ||||||
5.21%, 03/08/47(a) |
26,340 | 22,760,481 | ||||||
5.52%, 03/01/49 (Call 09/01/48)(a) |
14,894 | 13,366,148 | ||||||
7.05%, 06/20/36(a) |
20,225 | 22,136,647 | ||||||
Telefonica Europe BV, 8.25%, 09/15/30(a) |
14,583 | 16,953,548 | ||||||
TELUS Corp. |
||||||||
3.40%, 05/13/32 (Call 02/13/32) |
13,427 | 11,918,169 | ||||||
4.60%, 11/16/48 (Call 05/16/48) |
8,278 | 7,696,083 | ||||||
T-Mobile USA Inc. |
||||||||
1.50%, 02/15/26 (Call 01/15/26) |
13,415 | 12,086,975 | ||||||
2.05%, 02/15/28 (Call 12/15/27) |
19,564 | 17,000,834 | ||||||
2.25%, 02/15/26 (Call 02/15/23) |
8,439 | 7,757,213 | ||||||
2.25%, 11/15/31 (Call 08/15/31) |
10,960 | 8,797,658 | ||||||
2.55%, 02/15/31 (Call 11/15/30) |
26,580 | 22,103,931 | ||||||
2.63%, 04/15/26 (Call 04/15/23) |
15,152 | 14,041,586 | ||||||
2.63%, 02/15/29 (Call 02/15/24) |
17,196 | 14,749,869 | ||||||
2.70%, 03/15/32 (Call 12/15/31) |
11,264 | 9,384,007 | ||||||
2.88%, 02/15/31 (Call 02/15/26) |
15,674 | 13,247,665 | ||||||
3.00%, 02/15/41 (Call 08/15/40)(a) |
28,536 | 20,796,808 | ||||||
3.30%, 02/15/51 (Call 08/15/50) |
33,286 | 23,764,277 | ||||||
3.38%, 04/15/29 (Call 04/15/24)(a) |
22,965 | 20,571,128 | ||||||
3.40%, 10/15/52 (Call 04/15/52) |
28,770 | 20,744,971 | ||||||
3.50%, 04/15/31 (Call 04/15/26) |
26,749 | 23,646,169 | ||||||
3.60%, 11/15/60 (Call 05/15/60) |
17,247 | 12,364,402 | ||||||
3.75%, 04/15/27 (Call 02/15/27) |
43,423 | 41,627,585 | ||||||
3.88%, 04/15/30 (Call 01/15/30) |
72,158 | 66,617,362 | ||||||
4.38%, 04/15/40 (Call 10/15/39)(a) |
22,130 | 19,528,906 | ||||||
4.50%, 04/15/50 (Call 10/15/49)(a) |
30,422 | 26,455,759 | ||||||
4.75%, 02/01/28 (Call 02/01/23)(a) |
19,916 | 19,408,142 | ||||||
Verizon Communications Inc. |
||||||||
0.85%, 11/20/25 (Call 10/20/25) |
12,350 | 11,130,604 | ||||||
1.45%, 03/20/26 (Call 02/20/26)(a) |
17,536 | 15,994,917 | ||||||
1.50%, 09/18/30 (Call 06/18/30)(a) |
10,281 | 8,192,963 | ||||||
1.68%, 10/30/30 (Call 07/30/30)(a) |
14,677 | 11,668,101 | ||||||
1.75%, 01/20/31 (Call 10/20/30)(a) |
22,291 | 17,702,449 | ||||||
2.10%, 03/22/28 (Call 01/22/28)(a) |
28,898 | 25,547,234 | ||||||
2.36%, 03/15/32 (Call 12/15/31) |
48,391 | 39,690,956 | ||||||
2.55%, 03/21/31 (Call 12/21/30)(a) |
45,999 | 38,862,062 | ||||||
2.63%, 08/15/26 |
17,029 | 16,048,087 | ||||||
2.65%, 11/20/40 (Call 05/20/40) |
32,918 | 23,685,749 | ||||||
2.85%, 09/03/41 (Call 03/03/41) |
13,014 | 9,632,608 | ||||||
2.88%, 11/20/50 (Call 05/20/50) |
32,313 | 22,213,937 | ||||||
2.99%, 10/30/56 (Call 04/30/56) |
39,446 | 26,499,365 | ||||||
3.00%, 03/22/27 (Call 01/22/27)(a) |
8,971 | 8,490,287 | ||||||
3.00%, 11/20/60 (Call 05/20/60) |
21,610 | 14,327,534 | ||||||
3.15%, 03/22/30 (Call 12/22/29)(a) |
13,804 | 12,356,693 | ||||||
3.40%, 03/22/41 (Call 09/22/40) |
38,612 | 31,068,995 |
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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Par (000) |
Value | ||||||
Telecommunications (continued) |
| |||||||
3.55%, 03/22/51 (Call 09/22/50)(a) |
$ | 48,219 | $ | 37,736,614 | ||||
3.70%, 03/22/61 (Call 09/22/60)(a) |
37,179 | 28,573,214 | ||||||
3.88%, 02/08/29 (Call 11/08/28) |
10,414 | 10,027,296 | ||||||
3.88%, 03/01/52 (Call 09/01/51)(a) |
12,339 | 10,233,468 | ||||||
4.00%, 03/22/50 (Call 09/22/49)(a) |
12,759 | 10,743,132 | ||||||
4.02%, 12/03/29 (Call 09/03/29)(a) |
41,839 | 40,147,169 | ||||||
4.13%, 03/16/27(a) |
32,501 | 32,273,798 | ||||||
4.13%, 08/15/46(a) |
13,046 | 11,371,876 | ||||||
4.27%, 01/15/36 |
17,211 | 15,876,118 | ||||||
4.33%, 09/21/28 |
43,988 | 43,397,329 | ||||||
4.40%, 11/01/34 (Call 05/01/34)(a) |
20,957 | 19,884,027 | ||||||
4.50%, 08/10/33(a) |
23,607 | 22,730,989 | ||||||
4.52%, 09/15/48(a) |
9,323 | 8,637,976 | ||||||
4.81%, 03/15/39 |
13,450 | 13,067,404 | ||||||
4.86%, 08/21/46 |
25,703 | 24,969,089 | ||||||
5.01%, 08/21/54(a) |
9,144 | 9,130,598 | ||||||
5.25%, 03/16/37(a) |
11,833 | 11,976,153 | ||||||
6.55%, 09/15/43 |
5,710 | 6,785,776 | ||||||
Vodafone Group PLC |
||||||||
4.25%, 09/17/50(a) |
16,831 | 13,779,235 | ||||||
4.38%, 05/30/28 |
28,500 | 28,148,239 | ||||||
4.38%, 02/19/43 |
16,896 | 14,503,395 | ||||||
4.88%, 06/19/49 |
19,471 | 17,311,298 | ||||||
5.00%, 05/30/38(a) |
10,118 | 9,600,099 | ||||||
5.25%, 05/30/48 |
29,421 | 27,495,984 | ||||||
6.15%, 02/27/37 |
17,697 | 18,528,957 | ||||||
|
|
|||||||
2,408,350,932 | ||||||||
Toys, Games & Hobbies — 0.0% | ||||||||
Hasbro Inc., 3.90%, 11/19/29 (Call 08/19/29) |
13,497 | 12,420,668 | ||||||
|
|
|||||||
Transportation — 1.8% | ||||||||
Burlington Northern Santa Fe LLC |
||||||||
3.30%, 09/15/51 (Call 03/15/51)(a) |
9,965 | 7,995,996 | ||||||
3.55%, 02/15/50 (Call 08/15/49) |
7,190 | 6,021,552 | ||||||
3.90%, 08/01/46 (Call 02/01/46)(a) |
9,418 | 8,372,115 | ||||||
4.05%, 06/15/48 (Call 12/15/47) |
8,989 | 8,169,943 | ||||||
4.13%, 06/15/47 (Call 12/15/46) |
8,186 | 7,545,604 | ||||||
4.15%, 04/01/45 (Call 10/01/44) |
9,171 | 8,322,724 | ||||||
4.15%, 12/15/48 (Call 06/15/48)(a) |
9,873 | 9,101,559 | ||||||
4.45%, 03/15/43 (Call 09/15/42) |
10,519 | 10,054,487 | ||||||
4.45%, 01/15/53 (Call 07/15/52)(a) |
12,769 | 12,281,363 | ||||||
4.55%, 09/01/44 (Call 03/01/44) |
6,747 | 6,459,185 | ||||||
4.90%, 04/01/44 (Call 10/01/43) |
10,933 | 10,965,225 | ||||||
5.75%, 05/01/40 (Call 11/01/39)(a) |
6,284 | 6,908,660 | ||||||
Canadian
National Railway Co., |
372 | 360,153 | ||||||
Canadian Pacific Railway Co. |
||||||||
1.75%, 12/02/26 (Call 11/02/26)(a) |
10,818 | 9,825,538 | ||||||
2.45%, 12/02/31 (Call 09/02/31)(a) |
17,654 | 15,080,230 | ||||||
3.00%, 12/02/41 (Call 06/02/41)(a) |
10,771 | 8,465,344 | ||||||
3.10%, 12/02/51 (Call 06/02/51) |
20,943 | 15,393,773 | ||||||
6.13%, 09/15/2115 (Call 03/15/2115)(a) |
7,444 | 7,831,838 | ||||||
CSX Corp. |
||||||||
3.25%, 06/01/27 (Call 03/01/27)(a) |
10,700 | 10,304,965 | ||||||
3.80%, 03/01/28 (Call 12/01/27)(a) |
10,479 | 10,258,708 | ||||||
3.80%, 11/01/46 (Call 05/01/46) |
10,937 | 9,285,467 | ||||||
4.10%, 11/15/32 (Call 08/15/32) |
9,662 | 9,313,966 | ||||||
4.10%, 03/15/44 (Call 09/15/43)(a) |
5,772 | 5,093,597 | ||||||
4.25%, 03/15/29 (Call 12/15/28)(a) |
11,424 | 11,313,587 | ||||||
4.30%, 03/01/48 (Call 09/01/47)(a) |
11,695 | 10,619,727 | ||||||
4.50%, 11/15/52 (Call 05/15/52)(a) |
8,542 | 7,951,141 |
Security |
Par/ Shares (000) |
Value | ||||||
Transportation (continued) |
| |||||||
FedEx Corp. |
||||||||
2.40%, 05/15/31 (Call 02/15/31)(a) |
$ | 8,789 | $ | 7,405,847 | ||||
3.10%, 08/05/29 (Call 05/05/29)(a) |
9,319 | 8,506,037 | ||||||
3.25%, 04/01/26 (Call 01/01/26)(a) |
2,902 | 2,827,815 | ||||||
3.25%, 05/15/41 (Call 11/15/40)(a) |
8,362 | 6,520,217 | ||||||
4.05%, 02/15/48 (Call 08/15/47)(a) |
10,372 | 8,717,275 | ||||||
4.25%, 05/15/30 (Call 02/15/30)(a) |
8,387 | 8,165,867 | ||||||
4.40%, 01/15/47 (Call 07/15/46)(a) |
7,614 | 6,664,632 | ||||||
4.55%, 04/01/46 (Call 10/01/45)(a) |
14,729 | 13,142,685 | ||||||
4.75%, 11/15/45 (Call 05/15/45)(a) |
13,813 | 12,738,607 | ||||||
4.95%, 10/17/48 (Call 04/17/48)(a) |
8,848 | 8,417,303 | ||||||
5.10%, 01/15/44 |
9,118 | 8,755,975 | ||||||
5.25%, 05/15/50 (Call 11/15/49)(a) |
13,152 | 13,017,154 | ||||||
Norfolk Southern Corp. |
||||||||
3.05%, 05/15/50 (Call 11/15/49) |
6,614 | 4,878,207 | ||||||
3.16%, 05/15/55 (Call 11/15/54) |
8,996 | 6,513,494 | ||||||
4.55%, 06/01/53 (Call 12/01/52)(a) |
9,100 | 8,552,764 | ||||||
Union Pacific Corp. |
||||||||
2.38%, 05/20/31 (Call 02/20/31)(a) |
9,999 | 8,660,251 | ||||||
2.40%, 02/05/30 (Call 11/05/29)(a) |
9,578 | 8,445,400 | ||||||
2.80%, 02/14/32 (Call 12/15/31)(a) |
10,176 | 9,045,367 | ||||||
2.95%, 03/10/52 (Call 09/10/51) |
9,248 | 6,818,655 | ||||||
2.97%, 09/16/62 (Call 03/16/62) |
8,897 | 6,137,642 | ||||||
3.20%, 05/20/41 (Call 11/20/40)(a) |
8,519 | 7,002,095 | ||||||
3.25%, 02/05/50 (Call 08/05/49) |
19,006 | 15,001,320 | ||||||
3.50%, 02/14/53 (Call 08/14/52) |
16,495 | 13,371,698 | ||||||
3.70%, 03/01/29 (Call 12/01/28)(a) |
9,610 | 9,366,138 | ||||||
3.75%, 02/05/70 (Call 08/05/69) |
8,971 | 7,171,783 | ||||||
3.80%, 10/01/51 (Call 04/01/51) |
9,298 | 7,983,408 | ||||||
3.80%, 04/06/71 (Call 10/06/70)(a) |
12,259 | 9,820,843 | ||||||
3.84%, 03/20/60 (Call 09/20/59)(a) |
19,799 | 16,578,293 | ||||||
3.95%, 09/10/28 (Call 06/10/28) |
11,697 | 11,525,555 | ||||||
United Parcel Service Inc. |
||||||||
3.05%, 11/15/27 (Call 08/15/27)(a) |
10,311 | 9,996,297 | ||||||
3.40%, 03/15/29 (Call 12/15/28)(a) |
9,480 | 9,156,168 | ||||||
3.75%, 11/15/47 (Call 05/15/47)(a) |
10,981 | 9,802,913 | ||||||
4.25%, 03/15/49 (Call 09/15/48) |
9,774 | 9,391,497 | ||||||
4.45%, 04/01/30 (Call 01/01/30)(a) |
9,729 | 9,960,143 | ||||||
5.30%, 04/01/50 (Call 10/01/49)(a) |
15,705 | 17,506,277 | ||||||
6.20%, 01/15/38 |
14,236 | 16,664,996 | ||||||
Walmart Inc. |
||||||||
1.05%, 09/17/26 (Call 08/17/26)(a) |
18,155 | 16,458,078 | ||||||
1.50%, 09/22/28 (Call 07/22/28)(a) |
14,998 | 13,127,295 | ||||||
1.80%, 09/22/31 (Call 06/22/31)(a) |
23,747 | 19,977,180 | ||||||
|
|
|||||||
627,089,618 | ||||||||
Water — 0.1% | ||||||||
American Water Capital Corp. |
||||||||
3.75%, 09/01/47 (Call 03/01/47) |
5,736 | 4,869,590 | ||||||
4.45%, 06/01/32 (Call 03/01/32)(a) |
8,674 | 8,610,379 | ||||||
6.59%, 10/15/37 |
8,239 | 9,450,790 | ||||||
|
|
|||||||
22,930,759 | ||||||||
|
|
|||||||
Total
Long-Term Investments — 98.0% |
34,065,802,616 | |||||||
|
|
|||||||
Short-Term Securities |
||||||||
Money Market Funds — 8.1% |
||||||||
BlackRock
Cash Funds: Institutional, |
2,530,864 | 2,531,622,939 |
50 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued) August 31, 2022 |
iShares® iBoxx $ Investment Grade Corporate Bond ETF (Percentages shown are based on Net Assets) |
Security |
Shares (000) |
Value | ||||||
Money Market Funds (continued) |
||||||||
BlackRock
Cash Funds: Treasury, |
284,664 | $ | 284,664,000 | |||||
|
|
|||||||
Total
Short-Term Securities — 8.1% |
2,816,286,939 | |||||||
|
|
|||||||
Total
Investments in Securities — 106.1% |
36,882,089,555 | |||||||
Liabilities in Excess of Other Assets — (6.1)% |
(2,130,888,241 | ) | ||||||
|
|
|||||||
Net Assets — 100.0% |
$ | 34,751,201,314 | ||||||
|
|
(a) |
All or a portion of this security is on loan. |
(b) |
Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. |
(c) |
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(d) |
Affiliate of the Fund. |
(e) |
Annualized 7-day yield as of period end. |
(f) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended August 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 02/28/22 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 08/31/22 |
Shares Held at |
Income | Capital
Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 2,598,451,695 | $ | — | $ | (67,005,986 | )(a) | $ | (525,305 | ) | $ | 702,535 | $ | 2,531,622,939 | 2,530,864 | $ | 2,545,428 | (b) | $ | — | |||||||||||||||||||
BlackRock
Cash Funds: Treasury, |
203,784,000 | 80,880,000 | (a) | — | — | — | 284,664,000 | 284,664 | 1,476,614 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
$ | (525,305 | ) | $ | 702,535 | $ | 2,816,286,939 | $ | 4,022,042 | $ | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) |
Represents net amount purchased (sold). |
(b) |
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
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 |
||||||||||||||||
Corporate Bonds & Notes |
$ | — | $ | 34,065,802,616 | $ | — | $ | 34,065,802,616 | ||||||||
Money Market Funds |
2,816,286,939 | — | — | 2,816,286,939 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 2,816,286,939 | $ | 34,065,802,616 | $ | — | $ | 36,882,089,555 | |||||||||
|
|
|
|
|
|
|
|
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 |
51 |
Statements of Assets and Liabilities (unaudited)
August 31, 2022
iShares iBoxx $ High Yield Corporate Bond ETF |
iShares iBoxx $ Investment Grade Corporate Bond ETF |
|||||||
|
||||||||
ASSETS |
||||||||
Investments, at value — unaffiliated(a)(b) |
$ | 12,355,010,674 | $ | 34,065,802,616 | ||||
Investments, at value — affiliated(c) |
3,193,847,432 | 2,816,286,939 | ||||||
Cash |
6,482,160 | 6,818 | ||||||
Foreign currency, at value(d) |
11,821 | — | ||||||
Receivables: |
||||||||
Investments sold |
8,845,235 | 163,367,683 | ||||||
Securities lending income — affiliated |
1,342,716 | 545,420 | ||||||
Capital shares sold |
1,780,123 | 3,313,359 | ||||||
Dividends — affiliated |
278,124 | 492,797 | ||||||
Interest — unaffiliated |
202,279,862 | 385,532,371 | ||||||
|
|
|
|
|||||
Total assets |
15,769,878,147 | 37,435,348,003 | ||||||
|
|
|
|
|||||
LIABILITIES |
||||||||
Collateral on securities loaned, at value |
3,052,619,190 | 2,530,816,282 | ||||||
Payables: |
||||||||
Investments purchased |
16,236,754 | 123,453,046 | ||||||
Capital shares redeemed |
6,961,470 | 25,594,268 | ||||||
Investment advisory fees |
6,113,666 | 4,283,093 | ||||||
|
|
|
|
|||||
Total liabilities |
3,081,931,080 | 2,684,146,689 | ||||||
|
|
|
|
|||||
NET ASSETS |
$ | 12,687,947,067 | $ | 34,751,201,314 | ||||
|
|
|
|
|||||
NET ASSETS CONSIST OF |
||||||||
Paid-in capital |
$ | 16,593,343,169 | $ | 41,863,799,349 | ||||
Accumulated loss |
(3,905,396,102 | ) | (7,112,598,035 | ) | ||||
|
|
|
|
|||||
NET ASSETS |
$ | 12,687,947,067 | $ | 34,751,201,314 | ||||
|
|
|
|
|||||
NET ASSET VALUE |
||||||||
Shares outstanding |
169,600,000 | 317,300,000 | ||||||
|
|
|
|
|||||
Net asset value |
$ | 74.81 | $ | 109.52 | ||||
|
|
|
|
|||||
Shares authorized |
Unlimited | Unlimited | ||||||
|
|
|
|
|||||
Par value |
None | None | ||||||
|
|
|
|
|||||
(a) Investments, at cost — unaffiliated |
$ | 14,319,201,668 | $ | 40,181,404,201 | ||||
(b) Securities loaned, at value |
$ | 2,910,747,197 | $ | 2,425,692,584 | ||||
(c) Investments, at cost — affiliated |
$ | 3,192,576,741 | $ | 2,815,152,435 | ||||
(d) Foreign currency, at cost |
$ | 12,193 | $ | — |
See notes to financial statements.
52 |
2 0 2 2 I S H A R E S S E M I - 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 Operations (unaudited)
Six Months Ended August 31, 2022
iShares iBoxx $ High Yield |
iShares iBoxx $ Investment |
|||||||||
|
||||||||||
INVESTMENT INCOME |
||||||||||
Dividends — affiliated |
$ | 635,722 | $ | 1,476,614 | ||||||
Interest — unaffiliated |
349,260,039 | 510,783,032 | ||||||||
Securities lending income — affiliated — net |
6,513,258 | 2,545,428 | ||||||||
Other income — unaffiliated |
524,722 | 14,397 | ||||||||
|
|
|
|
|||||||
Total investment income |
356,933,741 | 514,819,471 | ||||||||
|
|
|
|
|||||||
EXPENSES |
||||||||||
Investment advisory fees |
35,436,531 | 23,608,657 | ||||||||
|
|
|
|
|||||||
Total expenses |
35,436,531 | 23,608,657 | ||||||||
|
|
|
|
|||||||
Net investment income |
321,497,210 | 491,210,814 | ||||||||
|
|
|
|
|||||||
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||||
Net realized gain (loss) from: |
||||||||||
Investments — unaffiliated |
(48,839,683 | ) | (419,056,338 | ) | ||||||
Investments — affiliated |
(687,900 | ) | (525,305 | ) | ||||||
In-kind redemptions — unaffiliated(a) |
(319,606,334 | ) | (575,910,538 | ) | ||||||
Foreign currency transactions |
(62 | ) | — | |||||||
|
|
|
|
|||||||
(369,133,979 | ) | (995,492,181 | ) | |||||||
|
|
|
|
|||||||
Net change in unrealized appreciation (depreciation) on: |
||||||||||
Investments — unaffiliated |
(1,093,921,689 | ) | (3,393,551,252 | ) | ||||||
Investments — affiliated |
1,065,130 | 702,535 | ||||||||
Foreign currency translations |
(372 | ) | — | |||||||
|
|
|
|
|||||||
(1,092,856,931 | ) | (3,392,848,717 | ) | |||||||
|
|
|
|
|||||||
Net realized and unrealized loss |
(1,461,990,910 | ) | (4,388,340,898 | ) | ||||||
|
|
|
|
|||||||
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (1,140,493,700 | ) | $ | (3,897,130,084 | ) | ||||
|
|
|
|
(a) |
See Note 2 of the Notes to Financial Statements. |
See notes to financial statements.
F I N A N C I A L S T A T E M E N T S |
53 |
Statements of Changes in Net Assets
iShares iBoxx $ High Yield Corporate Bond ETF |
iShares iBoxx $ Investment Grade Corporate Bond ETF |
|||||||||||||||||||||||||||
Six Months
Ended 08/31/22 (unaudited) |
Year Ended 02/28/22 |
Six Months Ended 08/31/22 (unaudited) |
Year Ended 02/28/22 |
|||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||||||||||||||
OPERATIONS |
||||||||||||||||||||||||||||
Net investment income |
$ | 321,497,210 | $ | 708,867,844 | $ | 491,210,814 | $ | 878,555,782 | ||||||||||||||||||||
Net realized gain (loss) |
(369,133,979 | ) | 225,744,405 | (995,492,181 | ) | 667,781,490 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) |
(1,092,856,931 | ) | (877,637,459 | ) | (3,392,848,717 | ) | (2,920,354,039 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(1,140,493,700 | ) | 56,974,790 | (3,897,130,084 | ) | (1,374,016,767 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||||||||||||||
Decrease in net assets resulting from distributions to shareholders |
(348,457,014 | ) | (814,300,808 | ) | (472,859,788 | ) | (915,064,580 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||||||||||||||
Net increase (decrease) in net assets derived from capital share transactions |
(2,492,875,865 | ) | (5,046,604,584 | ) | 3,298,759,380 | (8,095,864,525 | ) | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
NET ASSETS |
||||||||||||||||||||||||||||
Total decrease in net assets |
(3,981,826,579 | ) | (5,803,930,602 | ) | (1,071,230,492 | ) | (10,384,945,872 | ) | ||||||||||||||||||||
Beginning of period |
16,669,773,646 | 22,473,704,248 | 35,822,431,806 | 46,207,377,678 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||
End of period |
$ | 12,687,947,067 | $ | 16,669,773,646 | $ | 34,751,201,314 | $ | 35,822,431,806 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
54 |
2 0 2 2 I S H A R E S S E M I - 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 iBoxx $ High Yield Corporate Bond ETF | ||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
Six Months Ended 08/31/22 (unaudited) |
Year Ended 02/28/22 |
Year Ended 02/28/21 |
Year Ended 02/29/20 |
Year Ended 02/28/19 |
Year Ended 02/28/18 |
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 83.47 | $ | 86.84 | $ | 85.71 | $ | 85.71 | $ | 86.13 | $ | 88.08 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income(a) |
1.75 | 3.06 | 3.84 | 4.19 | 4.46 | 4.42 | ||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(8.52 | ) | (2.95 | ) | 1.50 | 0.18 | (0.36 | ) | (1.92 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) from investment operations |
(6.77 | ) | 0.11 | 5.34 | 4.37 | 4.10 | 2.50 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Distributions from net investment income(c) |
(1.89 | ) | (3.48 | ) | (4.21 | ) | (4.37 | ) | (4.52 | ) | (4.45 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net asset value, end of period |
$ | 74.81 | $ | 83.47 | $ | 86.84 | $ | 85.71 | $ | 85.71 | $ | 86.13 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||
Based on net asset value |
(8.20 | )%(e) | 0.11 | % | 6.56 | % | 5.14 | % | 4.95 | % | 2.87 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||||||
Total expenses |
0.49 | %(g) | 0.48 | % | 0.48 | % | 0.49 | % | 0.49 | % | 0.49 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income |
4.45 | %(g) | 3.52 | % | 4.59 | % | 4.83 | % | 5.25 | % | 5.05 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 12,687,947 | $ | 16,669,774 | $ | 22,473,704 | $ | 13,456,300 | $ | 15,341,864 | $ | 15,271,455 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Portfolio turnover rate(h) |
6 | %(e) | 19 | % | 20 | % | 20 | % | 14 | % | 17 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
Not annualized. |
(f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) |
Annualized. |
(h) |
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 |
55 |
Financial Highlights (continued)
(For a share outstanding throughout each period)
iShares iBoxx $ Investment Grade Corporate Bond ETF | ||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
Six Months Ended 08/31/22 (unaudited) |
Year Ended 02/28/22 |
Year Ended 02/28/21 |
Year Ended 02/29/20 |
Year Ended 02/28/19 |
Year Ended 02/28/18 |
|||||||||||||||||||||||
|
||||||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 124.51 | $ | 132.40 | $ | 132.27 | $ | 115.89 | $ | 117.11 | $ | 118.42 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income(a) |
1.68 | 2.92 | 3.55 | 4.17 | 4.15 | 3.86 | ||||||||||||||||||||||
Net realized and unrealized gain (loss)(b) |
(15.06 | ) | (7.79 | ) | 0.18 | 16.40 | (1.20 | ) | (1.39 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net increase (decrease) from investment operations |
(13.38 | ) | (4.87 | ) | 3.73 | 20.57 | 2.95 | 2.47 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Distributions from net investment income(c) |
(1.61 | ) | (3.02 | ) | (3.60 | ) | (4.19 | ) | (4.17 | ) | (3.78 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net asset value, end of period |
$ | 109.52 | $ | 124.51 | $ | 132.40 | $ | 132.27 | $ | 115.89 | $ | 117.11 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Return(d) |
||||||||||||||||||||||||||||
Based on net asset value |
(10.81 | )%(e) | (3.76 | )% | 2.83 | % | 18.03 | % | 2.64 | % | 2.06 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||||||
Total expenses |
0.14 | %(g) | 0.14 | % | 0.14 | % | 0.14 | % | 0.15 | % | 0.15 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income |
2.92 | %(g) | 2.21 | % | 2.66 | % | 3.35 | % | 3.62 | % | 3.22 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Supplemental Data |
||||||||||||||||||||||||||||
Net assets, end of period (000) |
$ | 34,751,201 | $ | 35,822,432 | $ | 46,207,378 | $ | 33,106,758 | $ | 32,519,973 | $ | 32,662,280 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Portfolio turnover rate(h) |
10 | %(e) | 14 | % | 14 | % | 13 | % | 10 | % | 10 | % | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
(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) |
Not annualized. |
(f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) |
Annualized. |
(h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
56 |
2 0 2 2 I S H A R E S S E M I - 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 (unaudited)
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 | |
iBoxx $ High Yield Corporate Bond |
Diversified | |
iBoxx $ Investment Grade Corporate 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. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Interest income, including amortization and accretion of premiums and discounts on debt securities, is recognized daily on an accrual basis.
Foreign Currency Translation: Each Fund’s books and records are maintained in U.S. dollars. Securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using prevailing market rates as quoted by one or more data service providers. Purchases and sales of investments are recorded at the rates of exchange prevailing on the respective dates of such transactions. Generally, when the U.S. dollar rises in value against a foreign currency, the investments denominated in that currency will lose value; the opposite effect occurs if the U.S. dollar falls in relative value.
Each Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of investments for financial reporting purposes. Accordingly, the effects of changes in exchange rates on investments are not segregated in the Statements of Operations from the effects of changes in market prices of those investments, but are included as a component of net realized and unrealized gain (loss) from investments. Each Fund reports realized currency gains (losses) on foreign currency related transactions as components of net realized gain (loss) for financial reporting purposes, whereas such components are generally treated as ordinary income for U.S. federal income tax purposes.
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:
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 | 57 |
Notes to Financial Statements (unaudited) (continued)
• |
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 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 |
Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA, or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund’s Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.
Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral.
58 | 2 0 2 2 I S H A R E S S E M I - 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 (unaudited) (continued)
In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.
As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:
|
||||||||||||||||
iShares ETF and Counterparty | |
Securities Loaned at Value |
|
|
Cash
Collateral Received |
(a) |
|
Non-Cash Collateral Received, at Fair Value |
(a) |
Net Amount | ||||||
|
||||||||||||||||
iBoxx $ High Yield Corporate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 164,280,502 | $ | (164,280,502 | ) | $ | — | $ | — | |||||||
Barclays Capital, Inc. |
112,992,845 | (112,992,845 | ) | — | — | |||||||||||
BMO Capital Markets Corp. |
47,597,661 | (47,597,661 | ) | — | — | |||||||||||
BNP Paribas SA |
453,235,855 | (453,235,855 | ) | — | — | |||||||||||
BofA Securities, Inc. |
117,232,310 | (117,232,310 | ) | — | — | |||||||||||
Citadel Clearing LLC |
30,618,809 | (30,618,809 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
50,857,440 | (50,857,440 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
35,700,605 | (35,700,605 | ) | — | — | |||||||||||
Deutsche Bank Securities, Inc. |
87,740,069 | (87,740,069 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC |
663,753,945 | (663,753,945 | ) | — | — | |||||||||||
HSBC Securities (USA), Inc. |
16,668,775 | (16,668,775 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
701,343,398 | (701,343,398 | ) | — | — | |||||||||||
Jefferies LLC |
29,404,273 | (29,404,273 | ) | — | — | |||||||||||
Mitsubishi UFJ Securities Holdings Co., Ltd. |
9,871,588 | (9,871,588 | ) | — | — | |||||||||||
Morgan Stanley |
77,138,312 | (77,138,312 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
38,732,763 | (38,732,763 | ) | — | — | |||||||||||
Pershing LLC |
309,383 | (309,383 | ) | — | — | |||||||||||
RBC Capital Markets LLC |
151,307,041 | (151,307,041 | ) | — | — | |||||||||||
Scotia Capital (USA), Inc. |
23,851,390 | (23,851,390 | ) | — | — | |||||||||||
State Street Bank & Trust Co. |
48,319,823 | (48,319,823 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
14,877,817 | (14,877,817 | ) | — | — | |||||||||||
UBS AG |
493,500 | (493,500 | ) | — | — | |||||||||||
Wells Fargo Securities LLC |
34,419,093 | (34,419,093 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 2,910,747,197 | $ | (2,910,747,197 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|||||||||
iBoxx $ Investment Grade Corporate Bond |
||||||||||||||||
Barclays Bank PLC |
$ | 219,931,759 | $ | (219,931,759 | ) | $ | — | $ | — | |||||||
Barclays Capital, Inc. |
78,855,357 | (78,855,357 | ) | — | — | |||||||||||
BMO Capital Markets Corp. |
38,548,051 | (38,548,051 | ) | — | — | |||||||||||
BNP Paribas SA |
501,326,619 | (501,326,619 | ) | — | — | |||||||||||
BofA Securities, Inc. |
246,814,839 | (246,814,839 | ) | — | — | |||||||||||
Citadel Clearing LLC |
13,869,255 | (13,869,255 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. |
117,869,270 | (117,869,270 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC |
22,928,639 | (22,928,639 | ) | — | — | |||||||||||
Deutsche Bank Securities, Inc. |
94,340,626 | (94,340,626 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC |
175,087,334 | (175,087,334 | ) | — | — | |||||||||||
HSBC Securities (USA), Inc. |
77,669,006 | (77,669,006 | ) | — | — | |||||||||||
J.P. Morgan Securities LLC |
220,730,038 | (220,730,038 | ) | — | — | |||||||||||
Jefferies LLC |
8,668,919 | (8,668,919 | ) | — | — | |||||||||||
Mitsubishi UFJ Securities Holdings Co., Ltd. |
39,254,749 | (39,254,749 | ) | — | — | |||||||||||
Morgan Stanley |
152,916,539 | (152,916,539 | ) | — | — | |||||||||||
Nomura Securities International, Inc. |
19,459,404 | (19,459,404 | ) | — | — | |||||||||||
Pershing LLC |
4,839,767 | (4,839,767 | ) | — | — | |||||||||||
RBC Capital Markets LLC |
291,464,617 | (291,464,617 | ) | — | — | |||||||||||
Scotia Capital (USA), Inc. |
12,605,416 | (12,605,416 | ) | — | — | |||||||||||
State Street Bank & Trust Co. |
17,881,636 | (17,881,636 | ) | — | — | |||||||||||
Toronto-Dominion Bank |
26,581,281 | (26,581,281 | ) | — | — | |||||||||||
UBS AG |
2,348,180 | (2,348,180 | ) | — | — | |||||||||||
Wells Fargo Bank N.A. |
2,048,676 | (2,048,676 | ) | — | — | |||||||||||
Wells Fargo Securities LLC |
39,652,607 | (39,652,607 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 2,425,692,584 | $ | (2,425,692,584 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
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 |
59 |
Notes to Financial Statements (unaudited) (continued)
(a) |
Collateral received in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Fund’s statement of assets and liabilities. |
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.
5. |
INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by 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 the iShares iBoxx $ High Yield Corporate Bond ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:
Aggregate Average Daily Net Assets | Investment Advisory Fees | |||
First $19 billion |
0.5000% | |||
Over $19 billion, up to and including $33 billion |
0.4750 | |||
Over $33 billion, up to and including $47 billion |
0.4513 | |||
Over $47 billion |
0.4287 |
For its investment advisory services to the iShares iBoxx $ Investment Grade Corporate Bond ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the average daily net assets of the Fund and certain other iShares funds, as follows:
Aggregate Average Daily Net Assets | Investment Advisory Fees | |||
First $121 billion |
0.1500% | |||
Over $121 billion, up to and including $181 billion |
0.1425 | |||
Over $181 billion, up to and including $231 billion |
0.1354 | |||
Over $231 billion, up to and including $281 billion |
0.1287 | |||
Over $281 billion |
0.1222 |
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.
Securities Lending: The U.S. Securities and Exchange Commission (the “SEC”) has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on loan (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury, managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.
Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.
Pursuant to the current securities lending agreement, each Fund retains 82% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 85% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
60 |
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Notes to Financial Statements (unaudited) (continued)
The share of securities lending income earned by each Fund is shown as securities lending income – affiliated – net in its Statements of Operations. For the six months ended August 31, 2022, the Funds paid BTC the following amounts for securities lending agent services:
iShares ETF |
Fees Paid to BTC |
|||
iBoxx $ High Yield Corporate Bond |
$ | 2,099,149 | ||
iBoxx $ Investment Grade Corporate Bond |
999,602 |
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
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 six months ended August 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 Gain (Loss) |
|||||||||
iBoxx $ High Yield Corporate Bond |
$ | 9,303,141 | $ | 220,224,177 | $ | (19,886,413) | ||||||
iBoxx $ Investment Grade Corporate Bond |
353,572,234 | 160,340,693 | (13,272,149) |
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 six months ended August 31, 2022, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:
iShares ETF | Purchases | Sales | ||||||
iBoxx $ High Yield Corporate Bond |
$ | 860,849,681 | $ | 827,645,356 | ||||
iBoxx $ Investment Grade Corporate Bond |
3,334,279,167 | 3,226,522,529 |
For the six months ended August 31, 2022, in-kind transactions were as follows:
iShares ETF |
In-kind Purchases |
In-kind Sales |
||||||
iBoxx $ High Yield Corporate Bond |
$ | 19,431,644,721 | $ | 21,922,764,714 | ||||
iBoxx $ Investment Grade Corporate Bond |
22,556,084,137 | 19,186,454,420 |
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 August 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.
As of February 28, 2022, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
iShares ETF | Non-Expiring | |||
iBoxx $ High Yield Corporate Bond |
$ | 1,538,239,704 | ||
iBoxx $ Investment Grade Corporate Bond |
81,641,410 |
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 |
61 |
Notes to Financial Statements (unaudited) (continued)
As of August 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 Appreciation |
Gross Unrealized Depreciation |
Net Unrealized Appreciation (Depreciation) |
||||||||||||
iBoxx $ High Yield Corporate Bond |
$ | 17,588,216,405 | $ 75,817,343 | $ | (2,115,175,642 | ) | $ | (2,039,358,299) | ||||||||
iBoxx $ Investment Grade Corporate Bond |
43,012,059,384 | 12,457,653 | (6,142,427,482 | ) | (6,129,969,829) |
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.
The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.
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.
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 the Manager 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.
Certain Funds invest a significant portion of their assets in high yield securities. High yield securities that are rated below investment-grade (commonly referred to as “junk bonds”) or are unrated may be deemed speculative, involve greater levels of risk than higher-rated securities of similar maturity and are more likely to default. High yield securities may be issued by less creditworthy issuers, and issuers of high yield securities may be unable to meet their interest or principal payment obligations. High yield securities are subject to extreme price fluctuations, may be less liquid than higher rated fixed-income securities, even under normal economic conditions, and frequently have redemption features.
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 recent 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.
62 |
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Notes to Financial Statements (unaudited) (continued)
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.
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:
|
||||||||||||||||||
Six Months Ended 08/31/22 |
Year Ended 02/28/22 |
|||||||||||||||||
|
|
|
|
|||||||||||||||
iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||||
|
||||||||||||||||||
iBoxx $ High Yield Corporate Bond |
||||||||||||||||||
Shares sold |
255,200,000 | $ | 19,816,782,790 | 368,200,000 | $ | 31,872,052,303 | ||||||||||||
Shares redeemed |
(285,300,000 | ) | (22,309,658,655 | ) | (427,300,000 | ) | (36,918,656,887 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
(30,100,000 | ) | $ | (2,492,875,865 | ) | (59,100,000 | ) | $ | (5,046,604,584 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||||
iBoxx $ Investment Grade Corporate Bond |
||||||||||||||||||
Shares sold |
201,300,000 | $ | 23,000,233,080 | 337,600,000 | $ | 44,475,136,382 | ||||||||||||
Shares redeemed |
(171,700,000 | ) | (19,701,473,700 | ) | (398,900,000 | ) | (52,571,000,907 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||||
29,600,000 | $ | 3,298,759,380 | (61,300,000 | ) | $ | (8,095,864,525 | ) | |||||||||||
|
|
|
|
|
|
|
|
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 has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.
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 |
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Board Review and Approval of Investment Advisory Contract
iShares iBoxx $ High Yield Corporate Bond ETF (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 higher 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.
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
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Board Review and Approval of Investment Advisory Contract (continued)
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 already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised 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 withsubstantially 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.
iShares iBoxx $ Investment Grade Corporate Bond ETF (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
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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Board Review and Approval of Investment Advisory Contract (continued)
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.
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,
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Board Review and Approval of Investment Advisory Contract (continued)
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 already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised 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 withsubstantially 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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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.
August 31, 2022
Total Cumulative Distributions for the Fiscal Year-to-Date |
% Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date |
|||||||||||||||||||||||||||||||||||
iShares ETF | Net Investment Income |
Net Realized Capital Gains |
Return of Capital |
Total Per Share |
Net Investment Income |
Net Realized Capital Gains |
Return of Capital |
Total Per Share |
||||||||||||||||||||||||||||
iBoxx $ Investment Grade Corporate Bond(a) |
$ | 1.605591 | $ | — | $0.004980 | $1.610571 | 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%. |
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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:
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Go to icsdelivery.com. |
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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 Abbreviations - Fixed Income | ||
LIBOR | London Interbank Offered Rate | |
REIT | Real Estate Investment Trust | |
SOFR | Secured Overnight Financing Rate |
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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 Markit Indices Limited, 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-SAR-204-0822
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