iShares Trust


		JANUARY 31, 2022

2022 Semi-Annual Report

(Unaudited)

iShares Trust

iShares Cloud 5G and Tech ETF | IDAT | NYSE Arca

iShares Cybersecurity and Tech ETF | IHAK | NYSE Arca

iShares Exponential Technologies ETF | XT | NASDAQ

iShares Genomics Immunology and Healthcare ETF | IDNA | NYSE Arca

iShares Robotics and Artificial Intelligence Multisector ETF | IRBO | NYSE Arca

iShares Self-Driving EV and Tech ETF | IDRV | NYSE Arca

iShares U.S. Tech Breakthrough Multisector ETF | TECB | NYSE Arca

iShares Virtual Work and Life Multisector ETF | IWFH | NYSE Arca

The Markets in Review

Dear Shareholder,

The 12-month reporting period as of January 31, 2022 saw a continuation of the resurgent growth that followed the initial coronavirus (or “COVID-19”) pandemic reopening, albeit at a slower pace. The global economy weathered the emergence of several variant strains and the resulting peaks and troughs in infections amid optimism that increasing vaccinations and economic adaptation could help contain the pandemic’s disruptions. Continued growth meant that the U.S. economy regained and then surpassed its pre-pandemic output. However, rapid changes in consumer spending led to supply constraints and elevated inflation.

Equity prices were mixed, as persistently high inflation drove investors’ expectations for higher interest rates, which particularly weighed on relatively high valuation growth stocks and economically sensitive small-capitalization stocks. Overall, small-capitalization U.S. stocks declined slightly, while large-capitalization U.S. stocks posted a strong advance. International equities from developed markets also gained, although emerging market stocks declined, 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 significantly during the reporting period as the economy expanded rapidly and inflation reached its highest annualized reading in decades. In the corporate bond market, the improving economy assuaged credit concerns and led to positive returns for high-yield corporate bonds, outpacing the modest negative return of investment-grade corporate bonds.

The U.S. Federal Reserve (the “Fed”) maintained accommodative monetary policy during the reporting period by keeping near-zero interest rates. However, the Fed’s tone shifted late in the period, as it reduced its bond-buying program and raised the prospect of higher rates in 2022. Continued high inflation and the Fed’s new tone led many analysts to anticipate that the Fed will raise interest rates multiple times throughout the year.

Looking ahead, however, the horrific war in Ukraine has significantly clouded the outlook for the global economy. Sanctions on Russia and general wartime disruption are likely to drive already-high commodity prices even further upwards, and we have already seen spikes in energy and metal markets. While this will exacerbate inflationary pressure, it could also constrain economic growth, making the Fed’s way forward less clear. Its challenge will be combating inflation without stifling a recovery that is now facing additional supply shocks.

In this environment, we favor an overweight to equities, as we believe low interest rates and continued economic growth will support further gains, albeit likely more modest than what we saw in 2021. Sectors that are better poised to manage the transition to a lower-carbon world, such as technology and health care, are particularly attractive in the long term. U.S. and other developed-market equities have room for further growth, while we believe Chinese equities stand to gain from a more accommodative monetary and fiscal environment. We are underweight long-term credit, but inflation-protected U.S. Treasuries, Asian fixed income, and emerging market local-currency bonds offer potential opportunities. We believe that international diversification and a focus on sustainability can help provide portfolio resilience, and the disruption created by the coronavirus appears to be accelerating the shift toward sustainable investments.

In this environment, 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.

Sincerely,

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.


Total Returns as of January 31, 2022
	6-Month			12-Month
U.S. large cap equities (S&P 500^® Index)		3.44	%	23.29%
U.S. small cap equities (Russell 2000^® Index)		(8.41	)	(1.21)
International equities (MSCI Europe, Australasia, Far East Index)		(3.43	)	7.03
Emerging market equities (MSCI Emerging Markets Index)		(4.59	)	(7.23)
3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)		0.01		0.04
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)		(3.87	)	(4.43)
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)		(3.17	)	(2.97)
Tax-exempt municipal bonds (S&P Municipal Bond Index)		(2.56	)	(1.22)
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)		(1.55	)	2.05
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.


2		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

Table of Contents


	Page

The Markets in Review		2
Fund Summary		4
About Fund Performance		12
Shareholder Expenses		12
Schedules of Investments		13
Financial Statements:
Statements of Assets and Liabilities		39
Statements of Operations		41
Statements of Changes in Net Assets		43
Financial Highlights		47
Notes to Financial Statements		55
Statement Regarding Liquidity Risk Management Program		65
Supplemental Information		66
General Information		67
Glossary of Terms Used in this Report		68


		3


Fund Summary as of January 31, 2022		iShares^® Cloud 5G and Tech ETF

Investment Objective

The iShares Cloud 5G and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of companies from developed and emerging markets that could benefit from providing products, services, and technologies related to cloud computing and 5G, as represented by the Morningstar^® Global Digital Infrastructure & Connectivity 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


				Cumulative Total Returns
	6 Months			Since Inception
Fund NAV		6.01	%		10.62	%
Fund Market		5.97			10.58
Index		5.31			9.75

The inception date of the Fund was 6/8/21. The first day of secondary market trading was 6/10/21.

Past performance is no guarantee 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” on page 12 for more information.

Expense Example


Actual							Hypothetical 5% Return


	Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)	Annualized Expense Ratio
$	1,000.00	$	1,060.10	$	2.44		$	1,000.00	$	1,022.80	$	2.40		0.47	%

^(a)

Expenses are calculated using the Fund’s annualized expense ratio (as disclosed in the table), multiplied by the average account value for the period, multiplied by the number of days in the period (184 days) and divided by the number of days in the year (365 days). 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 “Shareholder Expenses” on page 12 for more information.

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Semiconductors & Semiconductor Equipment	37.9	%
Software	19.7
Communications Equipment	17.1
Electronic Equipment, Instruments & Components	7.4
Equity Real Estate Investment Trusts (REITs)	3.5
Technology Hardware, Storage & Peripherals	3.4
Chemicals	2.6
Media	2.6
Construction & Engineering	2.4
IT Services	2.1
Diversified Telecommunication Services	1.3

GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	64.9	%
Taiwan	10.8
Japan	7.0
Netherlands	5.1
Sweden	3.3
Finland	2.8
Germany	2.4
United Kingdom	1.2
Other (each representing less than 1%)	2.5

^(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 January 31, 2022		iShares^® Cybersecurity and Tech ETF

Investment Objective

The iShares Cybersecurity and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that are involved in cyber security and technology, including cyber security hardware, software, products, and services, as represented by the NYSE^® FactSet^® Global Cyber Security 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			Since Inception			1 Year			Since Inception
Fund NAV		(7.43	)%		(0.88	)%		20.71	%		(0.88	)%		64.50	%
Fund Market		(7.47	)		(0.98	)		20.76			(0.98	)		64.66
Index		(7.68	)		(0.84	)		21.09			(0.84	)		65.61

The inception date of the Fund was 6/11/19. The first day of secondary market trading was 6/13/19.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$ 925.70	$ 2.28			$ 1,000.00	$ 1,022.80	$ 2.40		0.47	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Software	71.6	%
Professional Services	9.7
Communications Equipment	9.7
IT Services	9.0

GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	76.8	%
Israel	8.6
Japan	3.9
Taiwan	2.4
Canada	2.4
United Kingdom	2.2
Denmark	1.6
Germany	1.4
Other (each representing less than 1%)	0.7

^(a)

Excludes money market funds.


F U N D S U M M A R Y		5


Fund Summary as of January 31, 2022		iShares^® Exponential Technologies ETF

Investment Objective

The iShares Exponential Technologies ETF (the “Fund”) seeks to track the investment results of an index composed of stocks of developed and emerging market companies that create or use exponential technologies, as represented by the Morningstar Exponential Technologies IndexSM (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			Since Inception			1 Year			5 Years			Since Inception
Fund NAV		(6.51	)%		2.87	%		17.72	%		14.55	%		2.87	%		126.04	%		154.34	%
Fund Market		(6.68	)		2.84			17.66			14.53			2.84			125.46			154.14
Index		(6.93	)		2.56			17.94			14.74			2.56			128.18			157.01

The inception date of the Fund was 3/19/15. The first day of secondary market trading was 3/23/15.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio

	$ 1,000.00	$ 934.90	$ 2.19			$ 1,000.00	$ 1,022.90	$ 2.29		0.45	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Information Technology	53.2	%
Health Care	22.7
Industrials	6.3
Consumer Discretionary	4.6
Communication Services	4.3
Financials	2.7
Materials	2.6
Utilities	2.0
Other (each representing less than 1%)	1.6

TEN LARGEST GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	59.7	%
Japan	7.1
China	5.7
United Kingdom	3.6
Netherlands	3.4
Australia	3.3
Taiwan	2.2
Switzerland	2.1
Canada	1.9
India	1.6

^(a)

Excludes money market funds.


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


Fund Summary as of January 31, 2022		iShares^® Genomics Immunology and Healthcare ETF

Investment Objective

The iShares Genomics Immunology and Healthcare ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in genomics, immunology and bioengineering, as represented by the NYSE^® FactSet Global Genomics and Immuno Biopharma Index^TM (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			Since Inception			1 Year			Since Inception
Fund NAV		(26.91	)%		(27.20	)%		16.98	%		(27.20	)%		51.37	%
Fund Market		(27.12	)		(27.39	)		16.90			(27.39	)		51.11
Index		(27.06	)		(27.41	)		16.82			(27.41	)		50.66

The inception date of the Fund was 6/11/19. The first day of secondary market trading was 6/13/19.

Expense Example


Actual							Hypothetical 5% Return


	Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$	730.90	$	2.05		$	$1,000.00	$	1,022.80	$	2.40		0.47	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Biotechnology	71.9	%
Pharmaceuticals	20.5
Life Sciences Tools & Services	7.6

GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	61.3	%
Japan	10.2
Germany	6.6
France	6.5
Switzerland	4.7
Denmark	4.4
China	3.2
Taiwan	1.7
Netherlands	1.0
United Kingdom	0.4

^(a)

Excludes money market funds.


F U N D S U M M A R Y		7


Fund Summary as of January 31, 2022		iShares^® Robotics and Artificial Intelligence Multisector ETF

Investment Objective

The iShares Robotics and Artificial Intelligence Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that could benefit from the long-term growth and innovation in robotics technologies and artificial intelligence, as represented by the NYSE^® FactSet^® Global Robotics and Artificial Intelligence 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			Since Inception			1 Year			Since Inception
Fund NAV		(13.08	)%		(13.35	)%		14.17	%		(13.35	)%		61.21	%
Fund Market		(13.42	)		(13.98	)		14.06			(13.98	)		60.66
Index		(13.34	)		(13.69	)		14.37			(13.69	)		62.02

The inception date of the Fund was 6/26/18. The first day of secondary market trading was 6/28/18.

Expense Example


Actual							Hypothetical 5% Return


	Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$	869.20	$	2.21		$	1,000.00	$	1,022.80	$	2.40		0.47	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Information Technology	53.9	%
Communication Services	20.8
Industrials	14.9
Consumer Discretionary	7.4
Health Care	3.0

TEN LARGEST GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	49.8	%
China	13.5
Japan	10.8
Taiwan	7.8
South Korea	3.5
France	3.0
Israel	2.6
Netherlands	2.2
Germany	1.8
United Kingdom	1.6

^(a)

Excludes money market funds.


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


Fund Summary as of January 31, 2022		iShares^® Self-Driving EV and Tech ETF

Investment Objective

The iShares Self-Driving EV and Tech ETF (the “Fund”) seeks to track the investment results of an index composed of developed and emerging market companies that may benefit from growth and innovation in and around electric vehicles, battery technologies and autonomous driving technologies, as represented by the NYSE^® FactSet Global Autonomous Driving and Electric Vehicle 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			Since Inception			1 Year			Since Inception
Fund NAV		0.95	%		13.79	%		29.04	%		13.79	%		104.06	%
Fund Market		0.85			13.50			29.01			13.50			103.91
Index		0.43			13.25			28.97			13.25			103.29

The inception date of the Fund was 4/16/19. The first day of secondary market trading was 4/18/19.

Expense Example


Actual							Hypothetical 5% Return


	Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)		Ending Account Value (01/31/22)		Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$	1,009.50	$	2.38		$	1,000.00	$	1,022.80	$	2.40		0.47	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Consumer Discretionary	45.1	%
Information Technology	37.7
Industrials	8.3
Communication Services	4.8
Materials	4.1

TEN LARGEST GEOGRAPHIC ALLOCATION



Country/Geographic Region	Percent of Total Investments	^(a)

United States	48.0	%
Germany	11.0
Japan	10.7
South Korea	7.6
Netherlands	4.8
China	4.8
Switzerland	3.0
Sweden	2.9
United Kingdom	2.3
Taiwan	1.3

^(a)

Excludes money market funds.


F U N D S U M M A R Y		9


Fund Summary as of January 31, 2022		iShares^® U.S. Tech Breakthrough Multisector ETF

Investment Objective

The iShares U.S. Tech Breakthrough Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. companies that could benefit from various breakthrough technologies, including robotics and artificial intelligence, cloud and data tech, cybersecurity, genomics and immunology, and financial technology, as represented by the NYSE^® FactSet^® U.S. Tech Breakthrough IndexTM (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.

Performance


				Average Annual Total Returns						Cumulative Total Returns

	6 Months			1 Year			Since Inception			1 Year			Since Inception
Fund NAV		(8.57	)%		6.86	%		22.15	%		6.86	%		51.18	%
Fund Market		(8.66	)		6.78			22.10			6.78			51.06
Index		(8.42	)		7.22			22.60			7.22			52.22

The inception date of the Fund was 1/8/20. The first day of secondary market trading was 1/10/20.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$ 914.30	$ 1.45			$ 1,000.00	$ 1,023.70	$ 1.53		0.30	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Information Technology	65.0	%
Communication Services	15.0
Health Care	9.9
Consumer Discretionary	6.2
Real Estate	2.2
Industrials	1.1
Financials	0.6

TEN LARGEST HOLDINGS



Security	Percent of Total Investments	^(a)

Apple Inc.	4.7	%
Meta Platforms Inc, Class A	4.4
Microsoft Corp.	4.2
Alphabet Inc., Class A	4.1
salesforce.com Inc.	3.9
Amazon.com Inc.	3.8
NVIDIA Corp.	3.5
Walt Disney Co. (The)	3.1
Adobe Inc.	3.0
Gilead Sciences Inc.	2.8

^(a)

Excludes money market funds.


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


Fund Summary as of January 31, 2022		iShares^® Virtual Work and Life Multisector ETF

Investment Objective

The iShares Virtual Work and Life Multisector ETF (the “Fund”) seeks to track the investment results of an index composed of U.S. and non-U.S. companies that provide products, services and technologies that empower individuals to work remotely, and support an increasingly virtual way of life across entertainment, wellness and learning, as represented by the NYSE^® FactSet^® Global Virtual Work and Life 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			Since Inception			1 Year			Since Inception
Fund NAV		(29.09	)%		(35.93	)%		(15.72	)%		(35.93	)%		(20.51	)%
Fund Market		(28.80	)		(35.90	)		(15.53	)		(35.90	)		(20.27	)
Index		(29.37	)		(36.15	)		(15.85	)		(36.15	)		(20.59	)

The inception date of the Fund was 9/29/20. The first day of secondary market trading was 10/1/20.

Expense Example


Actual					Hypothetical 5% Return


	Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)		Beginning Account Value (08/01/21)	Ending Account Value (01/31/22)	Expenses Paid During the Period	^(a)	Annualized Expense Ratio
	$ 1,000.00	$ 709.10	$ 2.02			$ 1,000.00	$ 1,022.80	$ 2.40		0.47	%

^(a)

Portfolio Information

ALLOCATION BY SECTOR



Sector	Percent of Total Investments	^(a)

Information Technology	39.5	%
Communication Services	36.1
Consumer Discretionary	17.3
Health Care	5.8
Consumer Staples	1.3

TEN LARGEST HOLDINGS



Security	Percent of Total Investments	^(a)

Activision Blizzard Inc.	3.0	%
Citrix Systems Inc.	2.8
Nintendo Co. Ltd.	2.5
GN Store Nord A/S	2.4
Kuaishou Technology	2.4
Electronic Arts Inc.	2.3
Tencent Holdings Ltd.	2.3
Anaplan Inc.	2.3
Dropbox Inc., Class A	2.3
Zendesk Inc.	2.2

^(a)

Excludes money market funds.


F U N D S U M M A R Y		11

About Fund Performance

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 by using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.

Shareholder Expenses

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 (or from the commencement of operations if less than 6 months) 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 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 a 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.


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)

January 31, 2022

iShares^® Cloud 5G and Tech ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Chemicals — 2.6%
DuPont de Nemours Inc.		3,052	$	233,783


Communications Equipment — 17.0%
Arista Networks Inc.^(a)		1,920		238,675
Ciena Corp.^(a)		3,872		256,752
F5 Inc.^(a)		1,048		217,586
Juniper Networks Inc.		7,376		256,832
Nokia OYJ^(a)		40,808		243,364
Telefonaktiebolaget LM Ericsson, Class B		23,220		289,927

				1,503,136

Construction & Engineering — 2.5%
China Communications Services Corp. Ltd., Class H		72,000		38,326
COMSYS Holdings Corp.		4,400		104,694
EXEO Group Inc.		3,600		73,166

				216,186

Diversified Telecommunication Services — 1.3%
Cogent Communications Holdings Inc.		1,344		85,492
NOS SGPS SA		6,632		26,107

				111,599

Electronic Equipment, Instruments & Components — 7.4%
Murata Manufacturing Co. Ltd.		3,200		240,586
Quectel Wireless Solutions Co. Ltd., Class A		400		11,938
Taiyo Yuden Co. Ltd.		4,000		194,285
Yageo Corp.		12,000		204,513

				651,322

Equity Real Estate Investment Trusts (REITs) — 3.5%
CyrusOne Inc.		2,688		241,517
Keppel DC REIT		40,800		64,766

				306,283

IT Services — 2.1%
Computacenter PLC		3,040		109,468
Kingsoft Cloud Holdings Ltd., ADR^(a)(b)		3,260		27,547
Megaport Ltd.^(a)		5,012		48,214

				185,229

Media — 2.6%
DISH Network Corp., Class A^(a)		7,420		232,988


Semiconductors & Semiconductor Equipment — 37.8%
Analog Devices Inc.		1,292		211,850
Broadcom Inc.		412		241,383
Infineon Technologies AG		5,180		215,114
Intel Corp.		4,648		226,915
MACOM Technology Solutions Holdings Inc., Class H^(a)		1,464		89,611
MediaTek Inc.		6,000		238,315
Microchip Technology Inc.		2,760		213,845
NXP Semiconductors NV		1,056		216,945


Security	Shares		Value

Semiconductors & Semiconductor Equipment (continued)
Qorvo Inc.^(a)		1,492	$	204,822
QUALCOMM Inc.		1,320		232,003
Skyworks Solutions Inc.		1,504		220,366
STMicroelectronics NV		4,924		231,530
Taiwan Semiconductor Manufacturing Co. Ltd.		11,000		254,342
Win Semiconductors Corp.		12,000		148,659
Wolfspeed Inc.^(a)		1,944		183,203
Xilinx Inc.		1,076		208,260

				3,337,163

Software — 19.6%
C3.ai Inc., Class A^(a)		2,528		66,587
Cadence Design Systems Inc.^(a)		1,308		198,999
Citrix Systems Inc.		2,904		296,034
Datadog Inc., Class A^(a)		1,316		192,281
Dropbox Inc., Class A^(a)		9,528		235,818
New Relic Inc.^(a)		2,036		214,065
Nutanix Inc., Class A^(a)		6,592		180,225
Synopsys Inc.^(a)		660		204,930
Teradata Corp.^(a)(b)		3,588		144,740

				1,733,679

Technology Hardware, Storage & Peripherals — 3.4%
Pure Storage Inc., Class A^(a)		7,204		190,834
Wiwynn Corp.		3,000		109,976

				300,810


Total Common Stocks — 99.8% (Cost: $8,696,087)				8,812,178


Short-Term Investments

Money Market Funds — 1.9%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%^(c)(d)(e)		168,380		168,430


Total Short-Term Investments — 1.9% (Cost: $168,430)				168,430


Total Investments in Securities — 101.7% (Cost: $8,864,517)				8,980,608

Other Assets, Less Liabilities — (1.7)%				(148,634	)


Net Assets — 100.0%			$	8,831,974

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	Affiliate of the Fund.

^(d)	Annualized 7-day yield as of period end.

^(e)	All or a portion of this security was purchased with the cash collateral from loaned securities.


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)

January 31, 2022

iShares^® Cloud 5G and Tech ETF

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 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 07/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)		Change in Unrealized Appreciation (Depreciation)		Value at 01/31/22		Shares Held at 01/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	—	$	168,430	^(a)	$	—		$	—	$	—	$	168,430		168,380	$	24	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares^(c)		10,000		—			(10,000	)^(a)		—		—		—		—		—			—

									$	—	$	—	$	168,430			$	24		$	—

^(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.

⁽^c)

As of period end, the entity is no longer held.

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
Common Stocks	$	5,990,996	$	2,821,182	$	—	$	8,812,178
Money Market Funds		168,430		—		—		168,430

	$	6,159,426	$	2,821,182	$	—	$	8,980,608

See notes to financial statements.


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)

January 31, 2022

iShares^® Cybersecurity and Tech ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Communications Equipment — 9.6%
Accton Technology Corp		1,345,000	$	12,988,202
ADTRAN Inc		109,217		2,098,058
Calix Inc.^(a)		154,928		7,789,780
Juniper Networks Inc		741,300		25,812,066
Radware Ltd.^(a)(b)		110,022		3,700,040

				52,388,146

IT Services — 9.0%
Akamai Technologies Inc.^(a)(b)		209,505		23,998,798
My EG Services Bhd		10,940,100		2,551,355
Okta Inc.^(a)(b)		106,042		20,984,651
Secunet Security Networks AG		3,585		1,276,491

				48,811,295

Professional Services — 9.7%
Booz Allen Hamilton Holding Corp.		261,804		20,088,221
CACI International Inc., Class A^(a)		62,950		15,577,607
ManTech International Corp./VA, Class A		58,183		4,203,140
Science Applications International Corp.		156,651		12,850,082

				52,719,050

Software — 71.4%
A10 Networks Inc.		201,760		2,986,047
Absolute Software Corp.		98,901		797,495
Ahnlab Inc.^(b)		16,844		1,087,349
Alarm.com Holdings Inc.^(a)		122,694		9,149,291
Allot Ltd.^(a)		87,043		835,613
BlackBerry Ltd.^(a)		1,469,320		12,090,695
Check Point Software Technologies Ltd.^(a)		208,776		25,263,984
Citrix Systems Inc		292,844		29,852,517
Clear Secure Inc., Class A^(a)(b)		185,872		4,589,180
Cognyte Software Ltd.^(a)		194,838		2,113,992
Crowdstrike Holdings Inc., Class A^(a)		116,597		21,062,082
CyberArk Software Ltd.^(a)(b)		105,988		14,536,254
Darktrace PLC^(a)		830,697		4,602,118
Digital Arts Inc.		28,200		1,661,479
DocuSign Inc.^(a)		159,878		20,107,856
Everbridge Inc.^(a)		81,766		4,179,878
Fortinet Inc.^(a)		76,342		22,691,896
Kape Technologies PLC^(a)		298,996		1,492,770
KnowBe4 Inc., Class A^(a)(b)		58,395		1,396,808
Mandiant Inc.^(a)(b)		630,123		9,508,556
McAfee Corp., Class A		247,992		6,360,995
Micro Focus International PLC		967,488		5,952,109
Mimecast Ltd.^(a)		167,125		13,321,534
Netcompany Group A/S^(c)		121,302		8,911,360


Security	Shares		Value

Software (continued)
OneSpan Inc.^(a)		89,299	$	1,434,142
Palo Alto Networks Inc.^(a)(b)		44,264		22,902,194
Ping Identity Holding Corp.^(a)		189,870		3,757,527
Qualys Inc.^(a)(b)		94,342		12,088,984
Rapid7 Inc.^(a)(b)		147,017		14,162,148
SailPoint Technologies Holdings Inc.^(a)(b)		243,698		9,428,676
SentinelOne Inc., Class A^(a)(b)		99,675		4,460,456
TeamViewer AG^(a)(c)		429,799		6,494,278
Telos Corp.^(a)		143,464		1,677,094
Tenable Holdings Inc.^(a)		279,051		14,343,221
Trend Micro Inc/Japan^(a)		367,500		19,496,828
Varonis Systems Inc.^(a)		252,387		9,403,940
VMware Inc., Class A		194,623		25,005,163
Zscaler Inc.^(a)		73,172		18,813,253

				388,019,762


Total Common Stocks — 99.7% (Cost: $536,713,463)				541,938,253


Short-Term Investments

Money Market Funds — 8.8%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%^(d)(e)(f)		46,805,116		46,819,158
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%^(d)(e)		950,000		950,000

				47,769,158


Total Short-Term Investments — 8.8% (Cost: $47,768,655)				47,769,158


Total Investments in Securities — 108.5% (Cost: $584,482,118)				589,707,411

Other Assets, Less Liabilities — (8.5)%				(46,256,095	)


Net Assets — 100.0%			$	543,451,316

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(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.


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)

January 31, 2022

iShares^® Cybersecurity and Tech ETF

Affiliates


Affiliated Issuer	Value at 07/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 01/31/22		Shares Held at 01/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	62,729,133	$	—		$	(15,900,402	)^(a)	$	(9,490	)	$	(83	)	$	46,819,158		46,805,116	$	222,324	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		790,000		160,000	^(a)		—			—			—			950,000		950,000		26			—

									$	(9,490	)	$	(83	)	$	47,769,158			$	222,350		$	—

^(a)

Represents net amount purchased (sold).

^(b)

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts



Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)

Long Contracts
E-Mini Technology Select Sector Index		8		03/18/22	$	1,304	$	(53,658	)

Derivative Financial Instruments Categorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:



	Equity Contracts

Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	53,658

^(a)

Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss).

For the period ended January 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:


	Equity Contracts
Net Realized Gain (Loss) from:
Futures contracts	$	168,812


Net Change in Unrealized Appreciation (Depreciation) on:
Futures contracts	$	(112,078	)

Average Quarterly Balances of Outstanding Derivative Financial Instruments


Futures contracts:
Average notional value of contracts — long	$	692,177

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


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)

January 31, 2022

iShares^® Cybersecurity and Tech ETF

Fair Value Hierarchy as of Period End


	Level 1			Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	475,423,914		$	66,514,339	$	—	$	541,938,253
Money Market Funds		47,769,158			—		—		47,769,158

	$	523,193,072		$	66,514,339	$	—	$	589,707,411


Derivative financial instruments^(a)
Liabilities
Futures Contracts	$	(53,658	)	$	—	$	—	$	(53,658	)

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

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		17

Schedule of Investments (unaudited)

January 31, 2022

iShares^® Exponential Technologies ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Australia — 3.3%
IRESS Ltd.		2,335,065	$	18,890,284
Megaport Ltd.^(a)		1,478,706		14,224,813
Nanosonics Ltd.^(a)		4,963,785		18,042,370
Netwealth Group Ltd.		1,837,130		19,897,096
NEXTDC Ltd.^(a)		2,458,512		18,864,079
Technology One Ltd.		2,357,500		17,636,470
WiseTech Global Ltd.		558,313		18,183,892

				125,739,004

Canada — 1.9%pg8
Bausch Health Cos Inc.^(a)		835,098		20,530,081
BlackBerry Ltd.^(a)		2,290,381		18,847,017
Descartes Systems Group Inc. (The)^(a)		261,067		18,993,412
Shopify Inc., Class A^(a)		13,816		13,335,595

				71,706,105

China — 5.6%
3SBio Inc.^(a)(b)		24,281,000		19,225,533
Alibaba Group Holding Ltd.^(a)		1,367,300		21,430,461
Baidu Inc.^(a)		1,148,950		22,759,413
China Datang Corp. Renewable Power Co. Ltd., Class H		51,994,000		21,098,026
China Longyuan Power Group Corp. Ltd., Class H		10,063,000		20,531,420
China Resources Power Holdings Co. Ltd.		6,878,000		16,749,871
Genscript Biotech Corp.^(a)		4,036,000		12,856,338
I-Mab, ADR^(a)		391,711		9,890,703
Innovent Biologics Inc.^(a)(b)		2,509,500		10,627,244
JD.com Inc., Class A^(a)		16,804		636,895
Shanghai Junshi Biosciences Co. Ltd., Class A^(a)		2,289,284		21,244,946
Tencent Holdings Ltd.		352,900		22,113,517
Wuxi Biologics Cayman Inc., New^(a)(b)		1,616,500		16,201,798

				215,366,165

Denmark — 0.9%
Orsted A/S^(b)		166,088		17,695,845
Vestas Wind Systems A/S		670,417		18,141,747

				35,837,592

Finland — 1.1%
Nokia OYJ^(a)		3,613,839		21,551,576
Wartsila OYJ Abp		1,514,220		18,695,176

				40,246,752

France — 1.6%
Capgemini SE		93,421		21,002,569
Dassault Systemes SE		336,903		16,292,081
Sanofi		212,995		22,271,185

				59,565,835

Germany — 1.5%
Infineon Technologies AG		456,757		18,968,087
Merck KGaA		83,555		18,323,467
SAP SE		159,575		20,020,472

				57,312,026

India — 1.6%
Infosys Ltd.		905,567		21,305,909
Tata Consultancy Services Ltd.		427,103		21,507,123
Wipro Ltd.		2,513,364		19,405,359

				62,218,391

Israel — 0.5%
Nice Ltd.^(a)		68,688		17,582,591


Security	Shares		Value

Japan — 7.1%
Chugai Pharmaceutical Co. Ltd.		623,600	$	20,254,380
Denso Corp.		264,100		19,710,755
FANUC Corp.		97,200		19,221,136
Harmonic Drive Systems Inc.		506,200		20,021,573
Murata Manufacturing Co. Ltd.		272,000		20,449,849
Nabtesco Corp.		756,300		23,641,155
Nidec Corp.		177,200		15,705,200
Rakuten Group Inc.^(a)		2,093,700		18,163,632
SoftBank Group Corp.		445,411		19,731,502
Taiyo Yuden Co. Ltd.		368,700		17,908,198
Takeda Pharmaceutical Co. Ltd.		782,304		22,673,661
TDK Corp.		522,100		18,855,579
Tokyo Electron Ltd.		38,100		18,635,966
Yaskawa Electric Corp.		408,000		17,083,108

				272,055,694

Netherlands — 3.4%
Adyen NV^(a)(b)		7,415		15,088,765
ASM International NV		50,890		17,484,805
ASML Holding NV		26,484		17,937,467
NXP Semiconductors NV		95,912		19,704,161
QIAGEN NV^(a)		369,705		18,275,347
STMicroelectronics NV		455,036		21,396,125
TomTom NV^(a)(c)		2,245,430		21,458,308

				131,344,978

Singapore — 0.5%
Keppel DC REIT		11,947,900		18,966,016


South Korea — 1.0%
Samsung SDI Co. Ltd.		35,478		17,607,154
SK Hynix Inc.		210,746		21,813,845

				39,420,999

Spain — 0.5%
Siemens Gamesa Renewable Energy SA^(a)		843,821		18,258,486


Sweden — 1.3%
Subsea 7 SA		2,951,177		22,187,748
Telefonaktiebolaget LM Ericsson, Class B		2,051,332		25,613,123

				47,800,871

Switzerland — 2.1%
ABB Ltd., Registered		576,179		19,977,150
CRISPR Therapeutics AG^(a)		269,393		17,173,804
Novartis AG, Registered		255,487		22,199,135
Roche Holding AG, NVS		49,853		19,293,069

				78,643,158

Taiwan — 2.2%
Hon Hai Precision Industry Co. Ltd.		5,464,000		20,429,496
MediaTek Inc.		540,000		21,448,362
Taiwan Semiconductor Manufacturing Co. Ltd.		977,000		22,590,181
Win Semiconductors Corp.		1,648,000		20,415,902

				84,883,941

United Kingdom — 3.6%
Aptiv PLC^(a)		121,458		16,588,734
AstraZeneca PLC		197,197		22,939,520
GlaxoSmithKline PLC		993,886		22,179,545
Ocado Group PLC^(a)		981,192		19,992,350
Sage Group PLC (The)		1,920,973		18,771,700
Sensata Technologies Holding PLC^(a)		350,413		20,099,690
Spirax-Sarco Engineering PLC		98,266		17,713,006

				138,284,545


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)

January 31, 2022

iShares^® Exponential Technologies ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

United States — 59.6%
AbbVie Inc.		169,476	$	23,199,570
Accenture PLC, Class A		55,340		19,567,117
Advanced Micro Devices Inc.^(a)(c)		146,922		16,785,839
Agilent Technologies Inc.		132,819		18,504,343
Akamai Technologies Inc.^(a)		187,327		21,458,308
Albemarle Corp.		79,287		17,501,812
Alnylam Pharmaceuticals Inc.^(a)		119,626		16,460,538
Alphabet Inc., Class A^(a)		6,996		18,931,666
Amazon.com Inc.^(a)		6,004		17,960,786
Analog Devices Inc.		119,350		19,569,819
ANSYS Inc.^(a)		52,209		17,751,582
Apple Inc.		114,940		20,089,213
Applied Materials Inc.		133,649		18,467,619
Arista Networks Inc.^(a)		170,545		21,200,449
Aspen Technology Inc.^(a)		142,854		21,450,957
Autodesk Inc.^(a)		78,191		19,531,330
Beam Therapeutics Inc.^(a)(c)		266,642		18,454,293
Biogen Inc.^(a)		91,247		20,621,822
BioMarin Pharmaceutical Inc.^(a)		233,491		20,694,307
Blackbaud Inc.^(a)		265,332		18,079,722
BlackRock Inc.^(d)		22,898		18,843,680
Block Inc.^(a)(c)		107,852		13,189,221
Bristol-Myers Squibb Co.		375,631		24,374,696
Broadcom Inc.		38,240		22,404,051
Broadridge Financial Solutions Inc.		125,404		19,966,825
Cadence Design Systems Inc.^(a)		116,593		17,738,459
CF Industries Holdings Inc.		354,503		24,414,622
Cisco Systems Inc.		369,081		20,546,739
Citrix Systems Inc.		260,412		26,546,399
Cogent Communications Holdings Inc.		268,282		17,065,418
Cognizant Technology Solutions Corp., Class A		255,081		21,789,019
Coinbase Global Inc., Class A^(a)(c)		74,061		14,082,699
Coupa Software Inc.^(a)(c)		121,986		16,379,060
Crowdstrike Holdings Inc., Class A^(a)		100,259		18,110,786
Denali Therapeutics Inc.^(a)(c)		444,903		15,224,581
DISH Network Corp., Class A^(a)(c)		658,526		20,677,716
Dropbox Inc., Class A^(a)		870,723		21,550,394
DuPont de Nemours Inc.		272,309		20,858,869
Edwards Lifesciences Corp.^(a)		176,051		19,224,769
Eli Lilly & Co.		86,326		21,183,537
Enphase Energy Inc.^(a)(c)		91,395		12,838,256
Envestnet Inc.^(a)(c)		230,046		17,009,601
Exelixis Inc.^(a)(c)		1,256,709		22,746,433
F5 Inc.^(a)(c)		91,281		18,951,761
Fastly Inc., Class A^(a)(c)		483,626		13,860,721
First Solar Inc.^(a)		205,970		16,143,929
Fortinet Inc.^(a)		65,669		19,519,454
Gilead Sciences Inc.		289,398		19,875,855
Guardant Health Inc.^(a)(c)		211,416		14,703,983
Guidewire Software Inc.^(a)(c)		175,330		17,680,277
Hewlett Packard Enterprise Co.		1,358,787		22,188,992
Hubbell Inc.		107,492		20,132,177
Illumina Inc.^(a)		54,781		19,108,708
Incyte Corp.^(a)		312,363		23,217,942
Intel Corp.		399,672		19,511,987
Intellia Therapeutics Inc.^(a)		176,720		16,712,410
International Business Machines Corp.		173,273		23,144,075
Intuit Inc.		29,963		16,636,356
Intuitive Surgical Inc.^(a)		64,892		18,441,009
Ionis Pharmaceuticals Inc.^(a)(c)		663,909		21,112,306


Security	Shares		Value

United States (continued)
Jazz Pharmaceuticals PLC^(a)(c)		170,531	$	23,688,461
Johnson & Johnson		122,835		21,163,242
Juniper Networks Inc.		637,750		22,206,455
KLA Corp.		50,250		19,560,817
Lam Research Corp.		30,063		17,734,765
Livent Corp.^(a)		740,946		17,049,167
Lumen Technologies Inc.		1,771,929		21,901,042
Mandiant Inc.^(a)		1,267,547		19,127,284
Manhattan Associates Inc.^(a)		137,455		18,401,101
Marqeta Inc., Class A^(a)(c)		1,108,877		13,084,749
MercadoLibre Inc.^(a)(c)		17,284		19,566,525
Merck & Co. Inc.		298,348		24,309,395
Meta Platforms Inc, Class A^(a)		65,310		20,459,011
Microchip Technology Inc.		250,916		19,440,972
Micron Technology Inc.		251,018		20,651,251
Microsoft Corp.		63,198		19,653,314
Moderna Inc.^(a)		72,396		12,258,815
MongoDB Inc.^(a)		39,813		16,128,644
Myriad Genetics Inc.^(a)(c)		790,929		20,793,523
NortonLifeLock Inc.		874,460		22,744,705
NVIDIA Corp.		66,387		16,255,521
Okta Inc.^(a)(c)		87,113		17,238,792
Oracle Corp.		235,328		19,099,220
Palantir Technologies Inc., Class A^(a)		1,038,846		14,242,579
Palo Alto Networks Inc.^(a)(c)		39,857		20,622,012
Paylocity Holding Corp.^(a)		84,154		17,165,733
PayPal Holdings Inc.^(a)		107,076		18,410,647
Pegasystems Inc.		179,358		17,795,901
PTC Inc.^(a)(c)		177,541		20,640,917
Qorvo Inc.^(a)		125,055		17,167,550
QUALCOMM Inc.		117,106		20,582,551
Regeneron Pharmaceuticals Inc.^(a)		32,259		19,632,505
RingCentral Inc., Class A^(a)		97,829		17,265,840
Rocket Companies Inc., Class A		1,282,857		16,215,312
Sabre Corp.^(a)		2,298,063		21,027,276
salesforce.com Inc.^(a)		80,963		18,834,423
Seagen Inc.^(a)		141,726		19,063,564
SEI Investments Co.		342,495		20,073,632
ServiceNow Inc.^(a)		32,151		18,833,413
Shoals Technologies Group Inc., Class A^(a)(c)		741,032		12,493,800
Skyworks Solutions Inc.		128,124		18,772,728
Snowflake Inc., Class A^(a)		56,557		15,604,076
SoFi Technologies Inc.^(a)(c)		1,223,464		15,268,831
SolarEdge Technologies Inc.^(a)		62,068		14,785,839
Splunk Inc.^(a)		177,818		22,035,207
SS&C Technologies Holdings Inc.		276,904		22,116,322
Synaptics Inc.^(a)		73,189		15,395,306
Synopsys Inc.^(a)		58,406		18,135,063
TE Connectivity Ltd.		141,554		20,243,638
Teladoc Health Inc.^(a)(c)		207,504		15,917,632
Tesla Inc.^(a)		19,784		18,532,068
Texas Instruments Inc.		110,513		19,835,978
Thermo Fisher Scientific Inc.		32,891		19,119,538
Twilio Inc., Class A^(a)		77,139		15,899,891
Tyler Technologies Inc.^(a)(c)		39,702		18,810,808
Veoneer Inc.^(a)(c)		596,421		20,999,983
VMware Inc., Class A		184,434		23,696,080
Xilinx Inc.		94,370		18,265,314
Zendesk Inc.^(a)(c)		204,652		20,160,269


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)

January 31, 2022

iShares^® Exponential Technologies ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

United States (continued)
Zscaler Inc.^(a)		68,307	$	17,562,413

				2,277,730,274


Total Common Stocks — 99.3% (Cost: $3,391,623,988)				3,792,963,423


Preferred Stocks

Chile — 0.5%
Sociedad Quimica y Minera de Chile SA, Class B, Preference Shares		366,159		19,609,242


Total Preferred Stocks — 0.5% (Cost: $20,894,108)				19,609,242


Short-Term Investments

Money Market Funds — 3.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%^(d)(e)(f)		126,349,124		126,387,029
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%^(d)(e)		4,530,000		4,530,000

				130,917,029


Total Short-Term Investments — 3.4% (Cost: $130,909,279)				130,917,029


Total Investments in Securities — 103.2% (Cost: $3,543,427,375)				3,943,489,694

Other Assets, Less Liabilities — (3.2)%				(121,117,970	)


Net Assets — 100.0%			$	3,822,371,724

^(a)	Non-income producing security.

^(b)	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.

^(c)	All or a portion of this security is on loan.

^(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



Affiliated Issuer	Value at 07/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 01/31/22		Shares Held at 01/31/22		Income			Capital Gain Distributions from Underlying Funds

BlackRock Cash Funds: Institutional, SL Agency Shares	$	29,091,609	$	97,303,544	^(a)	$	—		$	(3,179	)	$	(4,945)		$	126,387,029		126,349,124	$	61,035	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		12,950,000		—			(8,420,000	)^(a)		—			—			4,530,000		4,530,000		147			—
BlackRock Inc		21,333,249		1,641,426			(3,182,834	)		71,887			(1,020,048	)		18,843,680		22,898		212,034			—

									$	68,708		$	(1,024,993	)	$	149,760,709			$	273,216		$	—

^(a)

Represents net amount purchased (sold).

^(b)


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)

January 31, 2022

iShares^® Exponential Technologies ETF

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts


Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
Euro STOXX 50 Index		21		03/18/22	$	987	$	(6,956	)
MSCI Emerging Markets Index		33		03/18/22		2,021		7,006
S&P 500 E-Mini Index		19		03/18/22		4,279		(193,973	)

							$	(193,923	)

Derivative Financial Instruments Categorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:


	Equity Contracts
Assets — Derivative Financial Instruments
Futures contracts
Unrealized appreciation on futures contracts^(a)	$	7,006

Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	200,929

^(a)

For the period ended January 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:


	Equity Contracts
Net Realized Gain (Loss) from:
Futures contracts	$	1,517,781


Net Change in Unrealized Appreciation (Depreciation) on:
Futures contracts	$	(249,987	)

Average Quarterly Balances of Outstanding Derivative Financial Instruments

Futures contracts:

Average notional value of contracts — long

9,438,463

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.

Fair Value Hierarchy as of Period End


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)

January 31, 2022

iShares^® Exponential Technologies ETF

Fair Value Hierarchy as of Period End (continued)


	Level 1			Level 2			Level 3		Total
Investments
Assets
Common Stocks	$	2,454,138,417		$	1,338,825,006		$	—	$	3,792,963,423
Preferred Stocks		—			19,609,242			—		19,609,242
Money Market Funds		130,917,029			—			—		130,917,029

	$	2,585,055,446		$	1,358,434,248		$	—	$	3,943,489,694

Derivative financial instruments^(a)
Assets
Futures Contracts	$	7,006		$	—		$	—	$	7,006
Liabilities
Futures Contracts		(193,973	)		(6,956	)		—		(200,929	)

	$	(186,967	)	$	(6,956	)	$	—	$	(193,923	)

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See notes to financial statements.


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)

January 31, 2022

iShares^® Genomics Immunology and Healthcare ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

China — 3.1%
BeiGene Ltd.^(a)(b)		450,600	$	8,159,059


Denmark — 4.4%
Genmab A/S^(a)		33,086		11,266,759


France — 6.5%
Sanofi		130,356		13,630,285
Valneva SE^(a)(b)		187,724		3,244,892

				16,875,177

Germany — 6.6%
BioNTech SE, ADR^(a)		35,784		6,157,711
Evotec SE^(a)		272,214		11,015,056

				17,172,767

Japan — 10.2%
Ono Pharmaceutical Co. Ltd.		539,600		13,086,218
Takeda Pharmaceutical Co. Ltd.		454,400		13,169,959

				26,256,177

Netherlands — 1.0%
CureVac NV^(a)(b)		130,782		2,525,400


Switzerland — 4.7%
Roche Holding AG, NVS		31,240		12,089,854


Taiwan — 1.7%
Adimmune Corp.		739,000		1,052,146
Medigen Vaccine Biologics Corp.^(a)		369,000		3,363,109

				4,415,255

United Kingdom — 0.4%
Adaptimmune Therapeutics PLC, ADR^(a)		331,428		967,770


United States — 61.2%
Agenus Inc.^(a)		541,588		1,494,783
Alaunos Therapeutics Inc.^(a)		475,132		513,143
Aligos Therapeutics Inc.^(a)		62,906		200,671
Allogene Therapeutics Inc.^(a)		160,886		1,842,145
Altimmune Inc.^(a)(b)		80,940		653,186
Arcturus Therapeutics Holdings Inc.^(a)		54,670		1,428,527
Arcus Biosciences Inc.^(a)		101,246		3,118,377
Beam Therapeutics Inc.^(a)(b)		129,788		8,982,627
Bluebird Bio Inc.^(a)		164,152		1,295,159
Blueprint Medicines Corp.^(a)		130,640		10,072,344
Coherus Biosciences Inc.^(a)		173,382		2,143,002
Cue Biopharma Inc.^(a)		73,982		546,727
CytomX Therapeutics Inc.^(a)(b)		150,946		694,352
Editas Medicine Inc.^(a)		164,436		3,130,861
Exelixis Inc.^(a)		744,790		13,480,699
Fate Therapeutics Inc.^(a)(b)		216,550		8,988,990
FibroGen Inc.^(a)		204,622		3,087,746


Security	Shares		Value

United States (continued)
Gilead Sciences Inc.		176,932	$	12,151,690
Gossamer Bio Inc.^(a)		133,338		1,278,711
Humanigen Inc.^(a)(b)		146,402		377,717
Inovio Pharmaceuticals Inc.^(a)(b)		498,988		2,065,810
Intellia Therapeutics Inc.^(a)		121,836		11,522,030
Invitae Corp.^(a)(b)		538,748		6,055,527
Iovance Biotherapeutics Inc.^(a)		329,014		5,478,083
Ligand Pharmaceuticals Inc.^(a)		38,340		4,778,314
Maravai LifeSciences Holdings Inc., Class A^(a)		263,978		7,634,244
Moderna Inc.^(a)		40,186		6,804,695
NGM Biopharmaceuticals Inc.^(a)		61,628		974,339
Novavax Inc.^(a)(b)		76,680		7,184,916
Personalis Inc.^(a)		86,620		986,602
Precision BioSciences Inc.^(a)(b)		121,410		579,126
RAPT Therapeutics Inc.^(a)		57,368		1,240,296
Regeneron Pharmaceuticals Inc.^(a)		19,454		11,839,510
Sangamo Therapeutics Inc.^(a)		291,100		1,755,333
Twist Bioscience Corp.^(a)		107,778		6,404,169
Vaxart Inc.^(a)		300,472		1,487,336
Vir Biotechnology Inc.^(a)(b)		169,832		5,830,333

				158,102,120


Total Common Stocks — 99.8% (Cost: $312,093,839)				257,830,338


Short-Term Investments

Money Market Funds — 4.1%
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.08%^(c)(d)(e)		10,268,661		10,271,741
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%^(c)(d)		220,000		220,000

				10,491,741


Total Short-Term Investments — 4.1% (Cost: $10,491,377)				10,491,741


Total Investments in Securities — 103.9% (Cost: $322,585,216)				268,322,079

Other Assets, Less Liabilities — (3.9)%				(10,092,720	)


Net Assets — 100.0%			$	258,229,359

^(a)	Non-income producing security.

^(b)	All or a portion of this security is on loan.

^(c)	Affiliate of the Fund.

^(d)	Annualized 7-day yield as of period end.

^(e)	All or a portion of this security was purchased with the cash collateral from loaned securities.


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) (continued)

January 31, 2022

iShares^® Genomics Immunology and Healthcare ETF

Affiliates


Affiliated Issuer	Value at 07/31/21		Purchases at Cost			Proceeds from Sales			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)			Value at 01/31/22		Shares Held at 01/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	14,270,396	$	—		$	(3,997,378	)^(a)	$	(954	)	$	(323	)	$	10,271,741		10,268,661	$	53,525	^(b)	$	—
BlackRock Cash Funds: Treasury, SL Agency Shares		200,000		20,000	^(a)		—			—			—			220,000		220,000		11			—

									$	(954	)	$	(323	)	$	10,491,741			$	53,536		$	—

^(a)

Represents net amount purchased (sold).

^(b)

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts


Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
E-Mini Health Care Sector Index		3		03/18/22	$	397	$	(12,787	)

Derivative Financial Instruments Categorized by Risk Exposure

As of period end, the fair values of derivative financial instruments located in the Statements of Assets and Liabilities were as follows:


	Equity Contracts
Liabilities — Derivative Financial Instruments
Futures contracts
Unrealized depreciation on futures contracts^(a)	$	12,787

^(a)

For the period ended January 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:


	Equity Contracts
Net Realized Gain (Loss) from:
Futures contracts	$	20,915


Net Change in Unrealized Appreciation (Depreciation) on:
Futures contracts	$	(20,197	)

Average Quarterly Balances of Outstanding Derivative Financial Instruments


Futures contracts:
Average notional value of contracts — long	$	401,117

For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.


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)

January 31, 2022

iShares^® Genomics Immunology and Healthcare ETF

Fair Value Hierarchy as of Period End


	Level 1			Level 2		Level 3		Total
Investments
Assets
Common Stocks	$	172,168,256		$	85,662,082	$	—	$	257,830,338
Money Market Funds		10,491,741			—		—		10,491,741

	$	182,659,997		$	85,662,082	$	—	$	268,322,079

Derivative financial instruments^(a)
Liabilities
Futures Contracts	$	(12,787	)	$	—	$	—	$	(12,787	)

^(a)

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

See notes to financial statements.


S C H E D U L E O F I N V E S T M E N T S		25

Schedule of Investments (unaudited)

January 31, 2022

iShares^® Robotics and Artificial Intelligence Multisector ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

Common Stocks

Australia — 0.6%
Megaport Ltd.^(a)		244,743	$	2,354,372


Canada — 1.2%
ATS Automation Tooling Systems Inc.^(a)		107,835		4,402,815


China — 13.5%
Alibaba Group Holding Ltd.^(a)		224,400		3,517,147
Baidu Inc.^(a)		195,100		3,864,713
DouYu International Holdings Ltd., ADR^(a)		1,513,656		3,178,678
Hello Group Inc., ADR		376,343		3,661,817
HUYA Inc., ADR^(a)		534,371		3,537,536
iQIYI Inc., ADR^(a)(b)		729,512		2,976,409
JD.com Inc., Class A^(a)		2,433		92,214
JOYY Inc., ADR		83,724		4,233,085
Kingsoft Cloud Holdings Ltd., ADR^(a)(b)		103,836		877,414
Kuaishou Technology^(a)(c)		356,400		4,073,921
Shanghai MicroPort MedBot Group Co. Ltd.^(a)(b)		539,000		3,312,684
Tencent Holdings Ltd.		49,300		3,089,250
Tencent Music Entertainment Group, ADR^(a)		567,935		3,509,838
Weibo Corp., ADR^(a)		73,857		2,559,145
Xiaomi Corp., Class B^(a)(c)		1,550,000		3,288,121
ZTE Corp., Class H		1,435,800		3,879,876

				49,651,848

France — 3.0%
Atos SE		31,595		1,132,584
Dassault Systemes SE		60,031		2,903,001
Somfy SA, NVS		14,722		2,710,562
Vivendi SE		335,328		4,394,597

				11,140,744

Germany — 1.8%
Duerr AG		82,589		3,655,004
Nemetschek SE		30,022		2,774,998

				6,430,002

Israel — 2.6%
Maytronics Ltd.		134,328		2,878,672
Nano Dimension Ltd., ADR^(a)		860,150		3,156,750
Stratasys Ltd.^(a)(b)		146,490		3,492,322

				9,527,744

Japan — 10.7%
FANUC Corp.		18,500		3,658,344
Harmonic Drive Systems Inc.		67,200		2,657,941
Hitachi Ltd.		59,400		3,087,375
Kawasaki Heavy Industries Ltd.		213,700		4,141,195
Kyocera Corp.		63,800		3,934,629
MinebeaMitsumi Inc.		133,900		3,276,611
Nidec Corp.		32,600		2,889,331
Oracle Corp. Japan		40,000		2,991,622
Ricoh Co. Ltd.		386,200		3,261,232
Sharp Corp./Japan		325,000		3,612,736
Sony Group Corp.		27,000		3,020,448
Yaskawa Electric Corp.		72,400		3,031,414

				39,562,878

Netherlands — 2.2%
Stellantis NV		195,256		3,770,172
STMicroelectronics NV		73,498		3,455,930
Yandex NV, Class A^(a)		21,031		1,010,750

				8,236,852


Security	Shares		Value

South Korea — 3.5%
AfreecaTV Co. Ltd.		20,856	$	2,736,016
LG Electronics Inc.		33,962		3,689,716
Samsung Electronics Co. Ltd.		59,876		3,724,232
Samsung SDS Co. Ltd.		21,821		2,590,258

				12,740,222

Sweden — 1.6%
Spotify Technology SA^(a)(b)		16,702		3,277,935
Surgical Science Sweden AB^(a)		118,023		2,531,319

				5,809,254

Taiwan — 7.8%
Alchip Technologies Ltd.		95,000		3,295,805
Faraday Technology Corp.		493,000		3,706,195
Global Unichip Corp.		161,000		2,826,944
Hiwin Technologies Corp.		367,000		3,553,395
Holtek Semiconductor Inc.		870,000		3,241,373
HTC Corp.^(a)		1,119,000		2,648,662
Nuvoton Technology Corp.		609,000		3,245,383
RDC Semiconductor Co. Ltd.^(a)		210,000		3,626,289
Via Technologies Inc.		1,050,000		2,629,404

				28,773,450

United Kingdom — 1.6%
AVEVA Group PLC		92,839		3,684,020
Clarivate PLC^(a)(b)		137,600		2,264,896

				5,948,916

United States — 49.7%
3D Systems Corp.^(a)(b)		165,590		2,964,061
Adobe Inc.^(a)(b)		6,019		3,215,952
Advanced Micro Devices Inc.^(a)		23,920		2,732,860
Alphabet Inc., Class A^(a)		1,292		3,496,242
Altair Engineering Inc., Class A^(a)		57,575		3,622,619
Alteryx Inc., Class A^(a)		55,015		3,139,706
Altra Industrial Motion Corp.		70,553		3,406,299
Amazon.com Inc.^(a)		1,051		3,144,035
Ambarella Inc.^(a)		17,594		2,465,799
AMETEK Inc.		22,082		3,020,155
Analog Devices Inc.		17,448		2,860,949
ANSYS Inc.^(a)		9,747		3,314,078
Apple Inc.		17,716		3,096,403
Autodesk Inc.^(a)(b)		14,942		3,732,362
Bentley Systems Inc., Class B		82,088		3,297,475
Bumble Inc., Class A^(a)		113,600		3,352,336
CEVA Inc.^(a)		84,898		3,198,108
Cognex Corp.		46,161		3,067,860
Concentrix Corp.		19,201		3,859,209
Desktop Metal Inc., Class A^(a)		643,141		2,630,447
Domo Inc., Class B^(a)		70,719		3,320,964
Dropbox Inc., Class A^(a)		158,463		3,921,959
Elastic NV^(a)		30,275		2,823,144
FARO Technologies Inc.^(a)(b)		52,254		2,837,915
Freshworks Inc.^(a)		127,395		2,770,841
fuboTV Inc.^(a)(b)		71,574		768,705
GoDaddy Inc., Class A^(a)		56,186		4,253,842
HubSpot Inc.^(a)(b)		5,172		2,528,074
Informatica Inc.^(a)(b)		108,307		3,023,931
Intel Corp.		69,906		3,412,811
International Business Machines Corp.		31,360		4,188,755
Intuitive Surgical Inc.^(a)		11,296		3,210,097
iRobot Corp.^(a)(b)		50,200		3,289,104
Lattice Semiconductor Corp.^(a)		51,878		2,864,703


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)

January 31, 2022

iShares^® Robotics and Artificial Intelligence Multisector ETF

(Percentages shown are based on Net Assets)


Security	Shares		Value

United States (continued)
Lumen Technologies Inc.		284,374	$	3,514,863
Matterport Inc, Class A^(a)(b)		136,603		1,329,147
Meta Platforms Inc, Class A^(a)		12,613		3,951,148
Microchip Technology Inc.		39,607		3,068,750
Microsoft Corp.		10,759		3,345,834
MicroStrategy Inc., Class A^(a)(b)		5,647		2,078,152
Netflix Inc.^(a)		6,002		2,563,694
NVIDIA Corp.		11,664		2,856,047
Pegasystems Inc.		25,382		2,518,402
Pinterest Inc., Class A^(a)		45,021		1,330,821
Proto Labs Inc.^(a)		73,371		3,681,757
PTC Inc.^(a)		27,071		3,147,274
QUALCOMM Inc.		18,559		3,261,930
salesforce.com Inc.^(a)		15,211		3,538,535
Silicon Laboratories Inc.^(a)		17,358		2,867,368
Snap Inc., Class A, NVS^(a)		75,553		2,458,495
Snowflake Inc., Class A^(a)		10,924		3,013,932
Splunk Inc.^(a)(b)		26,083		3,232,205
Sumo Logic Inc.^(a)		110,917		1,321,021
Teradata Corp.^(a)(b)		86,290		3,480,939
Texas Instruments Inc.		16,266		2,919,584
Twitter Inc.^(a)		87,800		3,293,378
Velo3D Inc.^(a)(b)		405,488		2,615,398
Vicarious Surgical Inc., Class A, NVS^(a)(b)		328,654