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OCTOBER 31, 2022 |
2022
Semi-Annual Report
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iShares Trust
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iShares Morningstar Mid-Cap Value ETF | IMCV | NASDAQ |
· |
iShares Morningstar Small-Cap ETF | ISCB | NYSE Arca |
· |
iShares Morningstar U.S. Equity ETF | ILCB | NYSE Arca |
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iShares Morningstar Value ETF | ILCV | NYSE Arca |
Dear Shareholder,
Significant economic headwinds emerged during the 12-month reporting period ended October 31, 2022, disrupting the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022 before returning to moderate growth in the third quarter, marking a shift to a more challenging post-reopening economic environment. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.
Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks as inflation decreased the value of future cash flows and investors shifted focus to balance sheet resilience. Both large-and small-capitalization U.S. stocks fell, although declines for small-capitalization U.S. stocks were slightly steeper. Emerging market stocks and international equities from developed markets also declined significantly, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield rose notably during the reporting period, driving its price down, as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).
The U.S. Federal Reserve (the “Fed”), acknowledging that inflation has been more persistent than expected, raised interest rates five times while indicating that additional rate hikes were likely. Furthermore, the Fed wound down its bond-buying programs and is accelerating the reduction of its balance sheet. As investors attempted to assess the Fed’s future trajectory, the Fed’s statements late in the reporting period led markets to believe that additional tightening is likely in the near term.
The pandemic’s restructuring of the economy brought an ongoing mismatch between supply and demand, contributing to the current inflationary regime. While growth has slowed in 2022, we believe that taming inflation requires a more dramatic economic decline to bring demand back to a lower level that is more in line with the economy’s capacity. The Fed has been raising interest rates at the fastest pace in decades, and seems set to overtighten in its effort to get inflation back to target. With this in mind, we believe the possibility of a U.S. recession in the near-term is high, and the outlook for Europe and the U.K. is also troubling. Investors should expect a period of higher volatility as markets adjust to the new economic reality and policymakers attempt to adapt to rapidly changing conditions.
In this environment, while we favor an overweight to equities in the long-term, the market’s concerns over excessive rate hikes from central banks moderate our outlook. Rising input costs and a deteriorating economic backdrop in China and Europe are likely to challenge corporate earnings, so we are underweight equities overall in the near term. However, we see better opportunities in credit, where higher spreads provide income opportunities and partially compensate for inflation risk. We believe that investment-grade corporates, local-currency emerging market debt, and inflation-protected bonds (particularly in Europe) offer strong opportunities for a six- to twelve-month horizon.
Overall, our view is that investors need to think globally, position themselves to be prepared for a decarbonizing economy, and be nimble as market conditions change. We encourage you to talk with your financial advisor and visit iShares.com for further insight about investing in today’s markets.
Sincerely,
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
Total Returns as of October 31, 2022
|
||||||||
6-Month | 12-Month | |||||||
U.S. large cap equities |
(5.50) | % | (14.61) | % | ||||
U.S. small cap equities |
(0.20) | (18.54) | ||||||
International equities |
(12.70) | (23.00) | ||||||
Emerging market equities |
(19.66) | (13.03) | ||||||
3-month Treasury bills |
0.72 | 0.79 | ||||||
U.S. Treasury securities |
(8.24) | (17.68) | ||||||
U.S. investment grade |
(6.86) | (15.68) | ||||||
Tax-exempt municipal bonds |
(4.43) | (11.98) | ||||||
U.S.
high yield bonds |
(4.71) | (11.76) | ||||||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
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T H I S P A G E I S N O T P A R T O F Y O U R F U N D R E P O R T |
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Semi-Annual Report: |
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Financial Statements: |
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Fund Summary as of October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF |
Investment Objective
The iShares Morningstar Mid-Cap Value ETF (the “Fund”) seeks to track the investment results of an index composed of mid-capitalization U.S. equities that exhibit value characteristics, as represented by the Morningstar® US Mid Cap Broad Value 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-Month Total Returns |
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||
Fund NAV |
(4.80 | )% | (4.66 | )% | 6.61 | % | 11.32 | % | (4.66 | )% | 37.75 | % | 192.27 | % | ||||||||||||||||
Fund Market |
(4.80 | ) | (4.70 | ) | 6.63 | 11.34 | (4.70 | ) | 37.87 | 192.77 | ||||||||||||||||||||
Index |
(4.81 | ) | (4.65 | ) | 6.81 | 11.59 | (4.65 | ) | 38.98 | 199.33 |
Index performance through March 21, 2021 reflects the performance of the Morningstar® US Mid Value IndexSM. Index performance beginning on March 22, 2021 reflects the performance of the Morningstar® US Mid Cap Broad Value IndexSM.
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 of sale of fund shares. See “About Fund Performance” for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
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Beginning Account Value (05/01/22) |
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Ending Account Value (10/31/22) |
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Expenses Paid During the Period( |
a) |
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Beginning Account Value (05/01/22) |
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Ending Account Value (10/31/22) |
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|
Expenses Paid During the Period |
(a) |
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Annualized Expense Ratio |
| ||||||||||
$ 1,000.00 | $ 952.00 | $ 0.30 | $ 1,000.00 | $ 1,024.90 | $ 0.31 | 0.06 | % |
(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
SECTOR ALLOCATION
Sector |
|
Percent of Total Investments |
(a) | |
Financials |
19.7 | % | ||
Industrials |
12.4 | |||
Utilities |
12.2 | |||
Consumer Discretionary |
9.2 | |||
Energy |
8.5 | |||
Real Estate |
8.3 | |||
Materials |
7.1 | |||
Health Care |
6.9 | |||
Information Technology |
6.4 | |||
Consumer Staples |
6.3 | |||
Communication Services |
3.0 |
TEN LARGEST HOLDINGS
Security |
|
Percent of Total Investments |
(a) | |
Devon Energy Corp. |
1.3 | % | ||
Phillips 66 |
1.3 | |||
Biogen, Inc. |
1.1 | |||
Aflac, Inc. |
1.0 | |||
Kinder Morgan, Inc., Class P |
0.9 | |||
Xcel Energy, Inc. |
0.9 | |||
Cummins, Inc. |
0.9 | |||
Allstate Corp. |
0.9 | |||
Ameriprise Financial, Inc. |
0.9 | |||
Consolidated Edison, Inc. |
0.8 |
(a) Excludes money market funds.
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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 October 31, 2022 | iShares® Morningstar Small-Cap ETF |
Investment Objective
The iShares Morningstar Small-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of small-capitalization U.S. equities, as represented by the Morningstar® US Small Cap Extended 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-Month Total Returns |
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||
Fund NAV |
(2.44 | )% | (17.95 | )% | 4.00 | % | 8.96 | % | (17.95 | )% | 21.66 | % | 135.83 | % | ||||||||||||||||
Fund Market |
(2.26 | ) | (17.98 | ) | 4.00 | 8.97 | (17.98 | ) | 21.69 | 136.03 | ||||||||||||||||||||
Index |
(2.53 | ) | (18.07 | ) | 4.07 | 9.04 | (18.07 | ) | 22.05 | 137.71 |
Index performance through March 21, 2021 reflects the performance of the Morningstar® US Small Core IndexSM. Index performance beginning on March 22, 2021 reflects the performance of the Morningstar® US Small Cap Extended IndexSM.
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 of sale of fund shares. See “About Fund Performance” for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||||
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Beginning Account Value (05/01/22) |
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Ending Account Value (10/31/22) |
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|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
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Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||||
$ 1,000.00 | $ 975.60 | $ 0.20 | $ 1,000.00 | $ 1,025.00 | $ 0.20 | 0.04 | % |
(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
SECTOR ALLOCATION
Sector |
|
Percent of Total Investments |
(a) | |
Financials |
17.1 | % | ||
Industrials |
17.0 | |||
Health Care |
15.4 | |||
Information Technology |
13.0 | |||
Consumer Discretionary |
11.8 | |||
Real Estate |
6.2 | |||
Energy |
5.8 | |||
Materials |
4.7 | |||
Consumer Staples |
3.6 | |||
Communication Services |
2.8 | |||
Utilities |
2.6 |
TEN LARGEST HOLDINGS
Security |
|
Percent of Total Investments |
(a) | |
Shockwave Medical, Inc. |
0.3 | % | ||
Sarepta Therapeutics, Inc. |
0.3 | |||
HF Sinclair Corp. |
0.3 | |||
NOV, Inc. |
0.3 | |||
Casey’s General Stores, Inc. |
0.3 | |||
Unum Group |
0.3 | |||
Interactive Brokers Group, Inc., Class A |
0.2 | |||
Chart Industries, Inc. |
0.2 | |||
Healthcare Realty Trust, Inc. |
0.2 | |||
Omega Healthcare Investors, Inc. |
0.2 |
(a) |
Excludes money market funds. |
F U N D S U M M A R Y |
5 |
Fund Summary as of October 31, 2022 | iShares® Morningstar U.S. Equity ETF |
Investment Objective
The iShares Morningstar U.S. Equity ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization U.S. equities, as represented by the Morningstar® US Large-Mid Cap 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 re included in the Index.
Performance
Average Annual Total Returns |
Cumulative Total Returns |
|||||||||||||||||||||||||||||
6-Month Total Returns |
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||
Fund NAV |
(5.94 | )% | (16.75 | )% | 8.61 | % | 12.32 | % | (16.75 | )% | 51.10 | % | 219.45 | % | ||||||||||||||||
Fund Market |
(5.82 | ) | (16.67 | ) | 8.62 | 12.32 | (16.67 | ) | 51.21 | 219.57 | ||||||||||||||||||||
Index |
(5.93 | ) | (16.74 | ) | 8.76 | 12.52 | (16.74 | ) | 52.18 | 225.26 |
Index performance through March 21, 2021 reflects the performance of the Morningstar® US Large Core IndexSM. Index performance beginning on March 22, 2021 reflects the performance of the Morningstar® US Large-Mid Cap IndexSM.
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 of sale of fund shares. See “About Fund Performance” for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
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|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||
$ 1,000.00 | $ 940.60 | $ 0.15 | $ 1,000.00 | $ 1,025.05 | $ 0.15 | 0.03 | % |
(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
SECTOR ALLOCATION
Sector |
|
Percent of Total Investments |
(a) | |
Information Technology |
26.3 | % | ||
Health Care |
14.9 | |||
Financials |
11.6 | |||
Consumer Discretionary |
11.0 | |||
Industrials |
8.6 | |||
Communication Services |
7.2 | |||
Consumer Staples |
6.6 | |||
Energy |
5.3 | |||
Real Estate |
3.0 | |||
Utilities |
2.9 | |||
Materials |
2.6 |
TEN LARGEST HOLDINGS
Security |
|
Percent of Total Investments |
(a) | |
Apple Inc. |
6.6 | % | ||
Microsoft Corp. |
4.9 | |||
Amazon.com, Inc. |
2.6 | |||
Tesla, Inc. |
1.7 | |||
Alphabet, Inc., Class A |
1.6 | |||
Berkshire Hathaway, Inc., Class B |
1.5 | |||
UnitedHealth Group, Inc. |
1.5 | |||
Alphabet, Inc., Class C, NVS |
1.5 | |||
Exxon Mobil Corp. |
1.3 | |||
Johnson & Johnson |
1.3 |
(a) Excludes money market funds.
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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 October 31, 2022 | iShares® Morningstar Value ETF |
Investment Objective
The iShares MorningstarValue ETF (the “Fund”) seeks to track the investment results of an index composed of large- and mid-capitalization U.S. equities that exhibit value characteristics, as represented by the Morningstar® US Large-Mid Cap Broad Value 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-Month Total Returns |
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||
Fund NAV |
(2.37 | )% | (4.40 | )% | 7.23 | % | 9.74 | % | (4.40 | )% | 41.75 | % | 153.28 | % | ||||||||||||||||
Fund Market |
(2.33 | ) | (4.40 | ) | 7.24 | 9.74 | (4.40 | ) | 41.85 | 153.35 | ||||||||||||||||||||
Index |
(2.36 | ) | (4.35 | ) | 7.42 | 9.97 | (4.35 | ) | 43.03 | 158.78 |
Index performance through March 21, 2021 reflects the performance of the Morningstar® US Large Value IndexSM. Index performance beginning on March 22, 2021 reflects the performance of the Morningstar® US Large-Mid Cap Broad Value IndexSM.
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 of sale of fund shares. See “About Fund Performance” for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||||
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (05/01/22) |
|
|
Ending Account Value (10/31/22) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||
$ 1,000.00 | $ 976.30 | $ 0.20 | $ 1,000.00 | $ 1,025.00 | $ 0.20 | 0.04 | % |
(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
SECTOR ALLOCATION
Sector |
|
Percent of Total Investments |
(a) | |
Health Care |
18.2 | % | ||
Financials |
17.7 | |||
Information Technology |
12.3 | |||
Industrials |
10.9 | |||
Consumer Staples |
9.6 | |||
Energy |
8.3 | |||
Communication Services |
6.7 | |||
Consumer Discretionary |
5.8 | |||
Utilities |
5.0 | |||
Materials |
2.9 | |||
Real Estate |
2.6 |
TEN LARGEST HOLDINGS
Security |
|
Percent of Total Investments |
(a) | |
Apple Inc. |
3.8 | % | ||
Berkshire Hathaway, Inc., Class B |
2.8 | |||
Exxon Mobil Corp. |
2.4 | |||
Johnson & Johnson |
2.4 | |||
JPMorgan Chase & Co. |
2.0 | |||
Chevron Corp. |
1.7 | |||
Procter & Gamble Co. |
1.7 | |||
UnitedHealth Group, Inc. |
1.5 | |||
Pfizer, Inc. |
1.4 | |||
AbbVie, Inc. |
1.4 |
(a) Excludes money market funds.
F U N D S U M M A R Y |
7 |
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 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.
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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) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 0.3% | ||||||||
Huntington Ingalls Industries, Inc. |
2,621 | $ | 673,781 | |||||
Textron, Inc. |
13,553 | 927,567 | ||||||
|
|
|||||||
1,601,348 | ||||||||
Air Freight & Logistics — 0.4% | ||||||||
CH Robinson Worldwide, Inc. |
10,005 | 977,689 | ||||||
Expeditors International of Washington, Inc. |
8,863 | 867,244 | ||||||
GXO Logistics, Inc.(a) |
5,650 | 206,451 | ||||||
|
|
|||||||
2,051,384 | ||||||||
Airlines — 1.4% | ||||||||
American Airlines Group, Inc.(a) |
79,002 | 1,120,248 | ||||||
Delta Air Lines, Inc.(a) |
30,344 | 1,029,572 | ||||||
Southwest Airlines Co.(a) |
71,998 | 2,617,127 | ||||||
United Airlines Holdings, Inc.(a) |
39,581 | 1,705,150 | ||||||
|
|
|||||||
6,472,097 | ||||||||
Auto Components — 0.8% | ||||||||
Aptiv PLC(a) |
13,605 | 1,239,007 | ||||||
BorgWarner, Inc. |
28,669 | 1,075,948 | ||||||
Gentex Corp. |
13,860 | 367,151 | ||||||
Lear Corp. |
7,214 | 1,000,654 | ||||||
|
|
|||||||
3,682,760 | ||||||||
Banks — 6.1% | ||||||||
Citizens Financial Group, Inc. |
60,143 | 2,459,849 | ||||||
Comerica, Inc. |
15,874 | 1,119,117 | ||||||
Commerce Bancshares, Inc. |
13,254 | 938,913 | ||||||
Cullen/Frost Bankers, Inc. |
7,795 | 1,208,615 | ||||||
East West Bancorp, Inc. |
17,099 | 1,223,775 | ||||||
Fifth Third Bancorp |
83,264 | 2,971,692 | ||||||
First Citizens BancShares, Inc., Class A |
1,603 | 1,317,858 | ||||||
First Horizon Corp. |
65,145 | 1,596,704 | ||||||
First Republic Bank |
7,804 | 937,260 | ||||||
Huntington Bancshares, Inc. |
175,000 | 2,656,500 | ||||||
KeyCorp |
113,172 | 2,022,384 | ||||||
M&T Bank Corp. |
21,310 | 3,587,965 | ||||||
Regions Financial Corp. |
113,382 | 2,488,735 | ||||||
Signature Bank |
3,408 | 540,270 | ||||||
SVB Financial Group(a) |
4,806 | 1,109,994 | ||||||
Webster Financial Corp. |
21,377 | 1,159,916 | ||||||
Western Alliance Bancorp |
7,958 | 534,539 | ||||||
Zions Bancorp N.A. |
18,215 | 946,087 | ||||||
|
|
|||||||
28,820,173 | ||||||||
Beverages — 0.2% | ||||||||
Molson Coors Beverage Co., Class B |
22,873 | 1,153,485 | ||||||
|
|
|||||||
Biotechnology — 1.3% | ||||||||
Biogen, Inc.(a) |
17,609 | 4,991,095 | ||||||
United Therapeutics Corp.(a) |
5,519 | 1,272,295 | ||||||
|
|
|||||||
6,263,390 | ||||||||
Building Products — 2.1% | ||||||||
A O Smith Corp. |
9,288 | 508,797 | ||||||
Allegion PLC |
5,273 | 552,452 | ||||||
Builders FirstSource, Inc.(a) |
10,793 | 665,496 | ||||||
Carrier Global Corp. |
65,801 | 2,616,248 | ||||||
Fortune Brands Home & Security, Inc. |
15,719 | 948,170 | ||||||
Lennox International, Inc. |
2,413 | 563,605 | ||||||
Masco Corp. |
27,323 | 1,264,235 | ||||||
Owens Corning |
7,636 | 653,718 | ||||||
Trane Technologies PLC |
12,873 | 2,054,917 | ||||||
|
|
|||||||
9,827,638 |
Security | Shares | Value | ||||||
Capital Markets — 5.2% | ||||||||
Ameriprise Financial, Inc. |
13,126 | $ | 4,057,509 | |||||
Bank of New York Mellon Corp. |
89,233 | 3,757,602 | ||||||
Carlyle Group, Inc. |
26,256 | 742,520 | ||||||
Coinbase Global, Inc., Class A(a) |
19,071 | 1,263,454 | ||||||
Franklin Resources, Inc. |
34,388 | 806,399 | ||||||
Invesco Ltd. |
55,069 | 843,657 | ||||||
Jefferies Financial Group, Inc. |
22,518 | 774,844 | ||||||
KKR & Co., Inc. |
28,637 | 1,392,617 | ||||||
Nasdaq, Inc. |
20,472 | 1,274,177 | ||||||
Northern Trust Corp. |
25,286 | 2,132,874 | ||||||
Raymond James Financial, Inc. |
9,548 | 1,128,001 | ||||||
SEI Investments Co. |
5,634 | 305,926 | ||||||
State Street Corp. |
44,608 | 3,300,992 | ||||||
T Rowe Price Group, Inc. |
27,387 | 2,907,404 | ||||||
|
|
|||||||
24,687,976 | ||||||||
Chemicals — 4.0% | ||||||||
Celanese Corp. |
12,096 | 1,162,667 | ||||||
CF Industries Holdings, Inc. |
24,179 | 2,569,261 | ||||||
DuPont de Nemours, Inc. |
36,003 | 2,059,372 | ||||||
Eastman Chemical Co. |
14,902 | 1,144,623 | ||||||
FMC Corp. |
8,817 | 1,048,341 | ||||||
International Flavors & Fragrances, Inc. |
30,936 | 3,019,663 | ||||||
LyondellBasell Industries NV, Class A |
30,874 | 2,360,317 | ||||||
Mosaic Co. |
41,896 | 2,251,910 | ||||||
Olin Corp. |
6,504 | 344,387 | ||||||
PPG Industries, Inc. |
15,715 | 1,794,339 | ||||||
RPM International, Inc. |
7,823 | 739,821 | ||||||
Westlake Corp. |
1,654 | 159,859 | ||||||
|
|
|||||||
18,654,560 | ||||||||
Communications Equipment — 0.9% | ||||||||
Ciena Corp.(a)(b) |
7,605 | 364,280 | ||||||
F5, Inc.(a) |
3,009 | 430,016 | ||||||
Juniper Networks, Inc. |
39,220 | 1,200,132 | ||||||
Motorola Solutions, Inc. |
9,844 | 2,458,145 | ||||||
|
|
|||||||
4,452,573 | ||||||||
Construction & Engineering — 0.4% | ||||||||
AECOM |
7,661 | 576,720 | ||||||
Quanta Services, Inc.(b) |
9,586 | 1,361,596 | ||||||
|
|
|||||||
1,938,316 | ||||||||
Consumer Finance — 1.0% | ||||||||
Ally Financial, Inc. |
37,438 | 1,031,791 | ||||||
Credit Acceptance Corp.(a)(b) |
251 | 116,871 | ||||||
Discover Financial Services |
12,251 | 1,279,739 | ||||||
Synchrony Financial |
58,458 | 2,078,767 | ||||||
|
|
|||||||
4,507,168 | ||||||||
Containers & Packaging — 2.0% | ||||||||
Amcor PLC |
182,350 | 2,111,613 | ||||||
AptarGroup, Inc. |
4,335 | 429,815 | ||||||
Avery Dennison Corp. |
3,424 | 580,539 | ||||||
Ball Corp. |
14,726 | 727,317 | ||||||
Berry Global Group, Inc.(a) |
15,150 | 716,898 | ||||||
Crown Holdings, Inc. |
6,540 | 448,579 | ||||||
International Paper Co. |
43,974 | 1,477,966 | ||||||
Packaging Corp. of America |
11,357 | 1,365,225 | ||||||
Sealed Air Corp. |
6,485 | 308,816 | ||||||
Westrock Co. |
30,921 | 1,053,169 | ||||||
|
|
|||||||
9,219,937 |
S C H E D U L E S O F I N V E S T M E N T S |
9 |
Schedule of Investments (unaudited) (continued) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Distributors — 0.8% | ||||||||
Genuine Parts Co. |
17,162 | $ | 3,052,433 | |||||
LKQ Corp. |
15,612 | 868,652 | ||||||
|
|
|||||||
3,921,085 | ||||||||
Diversified Consumer Services — 0.1% | ||||||||
Service Corp. International |
9,909 | 600,585 | ||||||
|
|
|||||||
Diversified Financial Services — 0.7% | ||||||||
Apollo Global Management, Inc. |
25,402 | 1,406,255 | ||||||
Equitable Holdings, Inc. |
42,388 | 1,297,921 | ||||||
Voya Financial, Inc. |
8,059 | 550,913 | ||||||
|
|
|||||||
3,255,089 | ||||||||
Diversified Telecommunication Services — 0.2% | ||||||||
Lumen Technologies, Inc. |
115,950 | 853,392 | ||||||
|
|
|||||||
Electric Utilities — 6.2% | ||||||||
Alliant Energy Corp. |
30,466 | 1,589,411 | ||||||
Avangrid, Inc. |
8,476 | 344,804 | ||||||
Constellation Energy Corp. |
24,364 | 2,303,373 | ||||||
Edison International |
46,284 | 2,778,891 | ||||||
Entergy Corp. |
24,683 | 2,644,537 | ||||||
Evergy, Inc. |
27,863 | 1,703,265 | ||||||
Eversource Energy |
42,038 | 3,206,659 | ||||||
FirstEnergy Corp. |
65,868 | 2,483,882 | ||||||
NRG Energy, Inc. |
13,206 | 586,346 | ||||||
OGE Energy Corp. |
24,336 | 891,428 | ||||||
PG&E Corp.(a) |
195,364 | 2,916,784 | ||||||
Pinnacle West Capital Corp. |
13,755 | 924,474 | ||||||
PPL Corp. |
89,330 | 2,366,352 | ||||||
Xcel Energy, Inc. |
66,374 | 4,321,611 | ||||||
|
|
|||||||
29,061,817 | ||||||||
Electrical Equipment — 1.2% | ||||||||
AMETEK, Inc. |
9,212 | 1,194,428 | ||||||
Hubbell, Inc. |
3,723 | 884,138 | ||||||
Regal Rexnord Corp. |
8,078 | 1,022,190 | ||||||
Rockwell Automation, Inc. |
6,227 | 1,589,753 | ||||||
Sensata Technologies Holding PLC |
18,795 | 755,747 | ||||||
|
|
|||||||
5,446,256 | ||||||||
Electronic Equipment, Instruments & Components — 1.3% | ||||||||
Arrow Electronics, Inc.(a) |
7,771 | 786,891 | ||||||
CDW Corp. |
7,395 | 1,277,930 | ||||||
Corning, Inc. |
50,658 | 1,629,668 | ||||||
Flex Ltd.(a) |
55,213 | 1,081,071 | ||||||
Jabil, Inc. |
16,725 | 1,074,581 | ||||||
TD SYNNEX Corp. |
5,107 | 467,342 | ||||||
|
|
|||||||
6,317,483 | ||||||||
Energy Equipment & Services — 0.6% | ||||||||
Baker Hughes Co. |
53,816 | 1,488,550 | ||||||
Halliburton Co. |
41,028 | 1,494,240 | ||||||
|
|
|||||||
2,982,790 | ||||||||
Entertainment — 0.8% | ||||||||
AMC Entertainment Holdings, Inc., Class A(a)(b) |
62,886 | 418,821 | ||||||
Electronic Arts, Inc. |
12,345 | 1,554,976 | ||||||
Liberty Media Corp. - Liberty Formula One, Class A(a) |
1,132 | 58,887 | ||||||
Liberty Media Corp. - Liberty Formula One, Class C, NVS(a) |
9,760 | 563,445 | ||||||
Live Nation Entertainment, Inc.(a) |
5,708 | 454,414 | ||||||
Playtika Holding Corp.(a) |
7,794 | 73,653 | ||||||
Take-Two Interactive Software, Inc.(a) |
6,246 | 740,026 | ||||||
|
|
|||||||
3,864,222 |
Security | Shares | Value | ||||||
Equity Real Estate Investment Trusts (REITs) — 7.8% | ||||||||
Alexandria Real Estate Equities, Inc. |
10,002 | $ | 1,453,291 | |||||
Americold Realty Trust, Inc. |
32,608 | 790,744 | ||||||
Apartment Income REIT Corp. |
9,232 | 354,786 | ||||||
AvalonBay Communities, Inc. |
8,756 | 1,533,351 | ||||||
Boston Properties, Inc. |
17,286 | 1,256,692 | ||||||
Brixmor Property Group, Inc. |
22,590 | 481,393 | ||||||
CubeSmart |
9,826 | 411,415 | ||||||
Equity LifeStyle Properties, Inc. |
6,678 | 427,125 | ||||||
Equity Residential |
23,532 | 1,482,987 | ||||||
Essex Property Trust, Inc. |
4,128 | 917,407 | ||||||
Extra Space Storage, Inc. |
5,132 | 910,622 | ||||||
Federal Realty Investment Trust |
4,496 | 445,014 | ||||||
Gaming and Leisure Properties, Inc. |
31,032 | 1,555,324 | ||||||
Healthpeak Properties, Inc. |
26,805 | 636,083 | ||||||
Iron Mountain, Inc. |
35,286 | 1,766,770 | ||||||
Kilroy Realty Corp. |
7,137 | 305,035 | ||||||
Kimco Realty Corp. |
74,904 | 1,601,447 | ||||||
Lamar Advertising Co., Class A |
6,509 | 600,325 | ||||||
Life Storage, Inc. |
3,984 | 440,670 | ||||||
Medical Properties Trust, Inc. |
72,513 | 830,274 | ||||||
Mid-America Apartment Communities, Inc. |
5,865 | 923,444 | ||||||
National Retail Properties, Inc. |
21,552 | 905,830 | ||||||
Realty Income Corp. |
45,526 | 2,834,904 | ||||||
Regency Centers Corp. |
8,084 | 489,163 | ||||||
STORE Capital Corp. |
32,168 | 1,022,942 | ||||||
UDR, Inc. |
13,635 | 542,128 | ||||||
Ventas, Inc. |
48,506 | 1,898,040 | ||||||
VICI Properties, Inc. |
116,864 | 3,741,985 | ||||||
Vornado Realty Trust |
19,511 | 460,264 | ||||||
Welltower, Inc. |
33,055 | 2,017,677 | ||||||
Weyerhaeuser Co. |
50,477 | 1,561,254 | ||||||
WP Carey, Inc. |
25,188 | 1,921,844 | ||||||
|
|
|||||||
36,520,230 | ||||||||
Food & Staples Retailing — 1.8% | ||||||||
Albertsons Cos., Inc., Class A |
19,329 | 396,438 | ||||||
BJ’s Wholesale Club Holdings, Inc.(a) |
10,286 | 796,136 | ||||||
Kroger Co. |
79,013 | 3,736,525 | ||||||
U.S. Foods Holding Corp.(a) |
14,637 | 435,597 | ||||||
Walgreens Boots Alliance, Inc. |
87,044 | 3,177,106 | ||||||
|
|
|||||||
8,541,802 | ||||||||
Food Products — 3.6% | ||||||||
Bunge Ltd. |
18,439 | 1,819,929 | ||||||
Campbell Soup Co. |
24,422 | 1,292,168 | ||||||
Conagra Brands, Inc. |
58,256 | 2,137,995 | ||||||
Darling Ingredients, Inc.(a)(b) |
12,424 | 975,036 | ||||||
Hershey Co. |
6,280 | 1,499,476 | ||||||
Hormel Foods Corp. |
18,964 | 880,878 | ||||||
JM Smucker Co. |
12,931 | 1,948,184 | ||||||
Kellogg Co. |
30,953 | 2,377,809 | ||||||
Lamb Weston Holdings, Inc. |
6,169 | 531,891 | ||||||
McCormick & Co., Inc., NVS |
14,401 | 1,132,495 | ||||||
Tyson Foods, Inc., Class A |
35,143 | 2,402,024 | ||||||
|
|
|||||||
16,997,885 | ||||||||
Gas Utilities — 0.6% | ||||||||
Atmos Energy Corp. |
16,981 | 1,809,325 | ||||||
UGI Corp. |
25,348 | 895,545 | ||||||
|
|
|||||||
2,704,870 | ||||||||
Health Care Equipment & Supplies — 1.3% | ||||||||
Baxter International, Inc. |
32,716 | 1,778,114 | ||||||
Dentsply Sirona, Inc. |
16,380 | 504,832 |
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) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Hologic, Inc.(a) |
13,920 | $ | 943,776 | |||||
Zimmer Biomet Holdings, Inc. |
25,460 | 2,885,891 | ||||||
|
|
|||||||
6,112,613 | ||||||||
Health Care Providers & Services — 3.1% | ||||||||
AmerisourceBergen Corp. |
18,862 | 2,965,484 | ||||||
Cardinal Health, Inc. |
33,058 | 2,509,102 | ||||||
Chemed Corp. |
889 | 415,047 | ||||||
DaVita, Inc.(a)(b) |
3,999 | 291,967 | ||||||
Henry Schein, Inc.(a) |
16,516 | 1,130,685 | ||||||
Laboratory Corp. of America Holdings |
10,970 | 2,433,804 | ||||||
Molina Healthcare, Inc.(a) |
3,486 | 1,250,986 | ||||||
Quest Diagnostics, Inc. |
14,150 | 2,032,648 | ||||||
Tenet Healthcare Corp.(a) |
13,065 | 579,563 | ||||||
Universal Health Services, Inc., Class B |
7,956 | 921,862 | ||||||
|
|
|||||||
14,531,148 | ||||||||
Hotels, Restaurants & Leisure — 1.7% | ||||||||
Aramark |
31,329 | 1,143,508 | ||||||
Carnival Corp.(a)(b) |
119,843 | 1,085,778 | ||||||
Darden Restaurants, Inc. |
8,180 | 1,170,885 | ||||||
Expedia Group, Inc.(a) |
9,987 | 933,485 | ||||||
Las Vegas Sands Corp.(a) |
39,902 | 1,516,675 | ||||||
Norwegian Cruise Line Holdings Ltd.(a)(b) |
51,080 | 862,741 | ||||||
Royal Caribbean Cruises Ltd.(a) |
11,647 | 621,717 | ||||||
Wynn Resorts Ltd.(a) |
12,529 | 800,603 | ||||||
|
|
|||||||
8,135,392 | ||||||||
Household Durables — 2.0% | ||||||||
DR Horton, Inc. |
20,715 | 1,592,569 | ||||||
Garmin Ltd. |
11,788 | 1,037,816 | ||||||
Lennar Corp., Class A |
30,941 | 2,496,939 | ||||||
Lennar Corp., Class B |
1,763 | 114,983 | ||||||
Mohawk Industries, Inc.(a) |
6,388 | 605,263 | ||||||
Newell Brands, Inc. |
45,595 | 629,667 | ||||||
NVR, Inc.(a) |
159 | 673,802 | ||||||
PulteGroup, Inc. |
28,090 | 1,123,319 | ||||||
Whirlpool Corp. |
6,622 | 915,425 | ||||||
|
|
|||||||
9,189,783 | ||||||||
Household Products — 0.6% | ||||||||
Church & Dwight Co., Inc. |
10,080 | 747,230 | ||||||
Clorox Co. |
14,945 | 2,182,568 | ||||||
|
|
|||||||
2,929,798 | ||||||||
Independent Power and Renewable Electricity Producers — 0.7% | ||||||||
AES Corp. |
81,049 | 2,120,242 | ||||||
Vistra Corp. |
47,378 | 1,088,273 | ||||||
|
|
|||||||
3,208,515 | ||||||||
Insurance — 6.4% | ||||||||
Aflac, Inc. |
69,778 | 4,543,246 | ||||||
Allstate Corp. |
32,799 | 4,140,874 | ||||||
American Financial Group, Inc. |
8,487 | 1,231,549 | ||||||
Arch Capital Group Ltd.(a) |
26,647 | 1,532,202 | ||||||
Arthur J. Gallagher & Co. |
9,313 | 1,742,276 | ||||||
Assurant, Inc. |
3,746 | 508,932 | ||||||
Cincinnati Financial Corp. |
7,887 | 814,885 | ||||||
CNA Financial Corp. |
3,246 | 135,358 | ||||||
Erie Indemnity Co., Class A, NVS |
1,544 | 396,823 | ||||||
Everest Re Group Ltd. |
2,493 | 804,391 | ||||||
Fidelity National Financial, Inc. |
33,490 | 1,318,836 | ||||||
Globe Life, Inc. |
11,010 | 1,271,875 | ||||||
Hartford Financial Services Group, Inc. |
39,211 | 2,839,269 | ||||||
Lincoln National Corp. |
18,844 | 1,015,126 | ||||||
Loews Corp. |
13,542 | 772,165 |
Security | Shares | Value | ||||||
Insurance (continued) | ||||||||
Markel Corp.(a) |
652 | $ | 786,377 | |||||
Old Republic International Corp. |
34,780 | 807,244 | ||||||
Principal Financial Group, Inc. |
28,126 | 2,478,744 | ||||||
Reinsurance Group of America, Inc. |
8,145 | 1,198,700 | ||||||
W. R. Berkley Corp. |
8,993 | 668,899 | ||||||
Willis Towers Watson PLC |
5,177 | 1,129,673 | ||||||
|
|
|||||||
30,137,444 | ||||||||
Interactive Media & Services — 0.1% | ||||||||
IAC, Inc.(a) |
5,843 | 284,437 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail — 0.6% | ||||||||
eBay, Inc. |
66,662 | 2,655,814 | ||||||
|
|
|||||||
IT Services — 0.8% | ||||||||
Akamai Technologies, Inc.(a) |
7,928 | 700,280 | ||||||
Concentrix Corp. |
1,941 | 237,248 | ||||||
DXC Technology Co.(a) |
27,828 | 800,055 | ||||||
FleetCor Technologies, Inc.(a) |
3,438 | 639,881 | ||||||
Genpact Ltd. |
11,701 | 567,499 | ||||||
SS&C Technologies Holdings, Inc. |
16,559 | 851,464 | ||||||
|
|
|||||||
3,796,427 | ||||||||
Leisure Products — 0.2% | ||||||||
Hasbro, Inc. |
7,889 | 514,757 | ||||||
Mattel, Inc.(a) |
21,979 | 416,722 | ||||||
|
|
|||||||
931,479 | ||||||||
Life Sciences Tools & Services — 0.1% | ||||||||
Syneos Health, Inc.(a) |
8,015 | 403,796 | ||||||
|
|
|||||||
Machinery — 4.3% | ||||||||
AGCO Corp. |
4,913 | 610,047 | ||||||
Cummins, Inc. |
17,109 | 4,183,322 | ||||||
Dover Corp. |
8,623 | 1,126,940 | ||||||
Fortive Corp. |
21,947 | 1,402,413 | ||||||
Lincoln Electric Holdings, Inc. |
2,304 | 327,168 | ||||||
Middleby Corp.(a) |
3,341 | 467,272 | ||||||
Otis Worldwide Corp. |
24,136 | 1,704,967 | ||||||
PACCAR, Inc. |
27,733 | 2,685,386 | ||||||
Parker-Hannifin Corp. |
9,411 | 2,735,025 | ||||||
Pentair PLC |
13,136 | 564,191 | ||||||
Snap-on, Inc. |
6,452 | 1,432,667 | ||||||
Stanley Black & Decker, Inc. |
17,902 | 1,405,128 | ||||||
Toro Co. |
5,376 | 566,792 | ||||||
Westinghouse Air Brake Technologies Corp. |
13,033 | 1,215,718 | ||||||
|
|
|||||||
20,427,036 | ||||||||
Media — 1.9% | ||||||||
Cable One, Inc. |
274 | 235,484 | ||||||
DISH Network Corp., Class A(a)(b) |
30,428 | 453,681 | ||||||
Fox Corp., Class A, NVS |
37,100 | 1,071,077 | ||||||
Fox Corp., Class B |
17,048 | 463,706 | ||||||
Interpublic Group of Cos., Inc. |
47,392 | 1,411,808 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class A(a)(b) |
9,030 | 383,233 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class C, NVS(a) |
18,545 | 782,413 | ||||||
News Corp., Class A, NVS |
46,687 | 787,610 | ||||||
News Corp., Class B |
14,466 | 247,803 | ||||||
Omnicom Group, Inc. |
24,864 | 1,808,856 | ||||||
Paramount Global, Class A(b) |
1,107 | 23,335 | ||||||
Paramount Global, Class B, NVS |
61,228 | 1,121,697 | ||||||
Sirius XM Holdings, Inc.(b) |
31,850 | 192,374 | ||||||
|
|
|||||||
8,983,077 | ||||||||
Metals & Mining — 1.2% | ||||||||
Alcoa Corp. |
21,892 | 854,445 |
S C H E D U L E S O F I N V E S T M E N T S |
11 |
Schedule of Investments (unaudited) (continued) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Metals & Mining (continued) | ||||||||
Cleveland-Cliffs, Inc.(a)(b) |
62,865 | $ | 816,616 | |||||
Reliance Steel & Aluminum Co. |
7,307 | 1,472,214 | ||||||
Steel Dynamics, Inc. |
21,057 | 1,980,411 | ||||||
United States Steel Corp. |
28,742 | 585,187 | ||||||
|
|
|||||||
5,708,873 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.2% | ||||||||
Annaly Capital Management, Inc. |
53,249 | 987,769 | ||||||
|
|
|||||||
Multiline Retail — 0.6% | ||||||||
Dollar Tree, Inc.(a)(b) |
10,662 | 1,689,927 | ||||||
Kohl’s Corp. |
15,615 | 467,669 | ||||||
Macy’s, Inc. |
32,652 | 680,794 | ||||||
|
|
|||||||
2,838,390 | ||||||||
Multi-Utilities — 4.3% | ||||||||
Ameren Corp. |
31,351 | 2,555,734 | ||||||
CenterPoint Energy, Inc. |
76,386 | 2,185,403 | ||||||
CMS Energy Corp. |
19,990 | 1,140,430 | ||||||
Consolidated Edison, Inc. |
43,026 | 3,784,567 | ||||||
DTE Energy Co. |
23,509 | 2,635,594 | ||||||
NiSource, Inc. |
49,196 | 1,263,845 | ||||||
Public Service Enterprise Group, Inc. |
60,533 | 3,394,085 | ||||||
WEC Energy Group, Inc. |
38,276 | 3,495,747 | ||||||
|
|
|||||||
20,455,405 | ||||||||
Oil, Gas & Consumable Fuels — 7.8% | ||||||||
Antero Resources Corp.(a)(b) |
34,224 | 1,254,652 | ||||||
APA Corp. |
17,546 | 797,641 | ||||||
Chesapeake Energy Corp. |
11,728 | 1,199,422 | ||||||
Continental Resources, Inc. |
6,595 | 487,832 | ||||||
Coterra Energy, Inc. |
35,491 | 1,104,835 | ||||||
Devon Energy Corp. |
79,455 | 6,145,843 | ||||||
Diamondback Energy, Inc. |
21,569 | 3,388,706 | ||||||
EQT Corp. |
18,093 | 757,011 | ||||||
Hess Corp. |
22,059 | 3,112,084 | ||||||
Kinder Morgan, Inc., Class P |
240,580 | 4,359,310 | ||||||
Marathon Oil Corp. |
82,220 | 2,503,599 | ||||||
ONEOK, Inc. |
31,527 | 1,870,182 | ||||||
Ovintiv, Inc. |
30,872 | 1,563,667 | ||||||
Phillips 66 |
58,373 | 6,087,720 | ||||||
Southwestern Energy Co.(a) |
135,555 | 939,396 | ||||||
Targa Resources Corp. |
17,669 | 1,208,029 | ||||||
|
|
|||||||
36,779,929 | ||||||||
Pharmaceuticals — 1.1% | ||||||||
Jazz Pharmaceuticals PLC(a) |
7,622 | 1,095,967 | ||||||
Organon & Co. |
30,792 | 806,135 | ||||||
Royalty Pharma PLC, Class A |
44,559 | 1,885,737 | ||||||
Viatris, Inc. |
146,929 | 1,488,391 | ||||||
|
|
|||||||
5,276,230 | ||||||||
Professional Services — 0.9% | ||||||||
Booz Allen Hamilton Holding Corp., Class A |
8,088 | 880,379 | ||||||
Dun & Bradstreet Holdings, Inc. |
18,001 | 231,313 | ||||||
Jacobs Solutions, Inc. |
8,050 | 927,521 | ||||||
Leidos Holdings, Inc. |
16,579 | 1,684,261 | ||||||
Robert Half International, Inc. |
6,651 | 508,535 | ||||||
|
|
|||||||
4,232,009 | ||||||||
Real Estate Management & Development — 0.6% | ||||||||
CBRE Group, Inc., Class A(a) |
25,095 | 1,780,239 | ||||||
Jones Lang LaSalle, Inc.(a) |
5,823 | 926,381 | ||||||
|
|
|||||||
2,706,620 | ||||||||
Road & Rail — 0.4% | ||||||||
AMERCO |
567 | 326,133 |
Security | Shares | Value | ||||||
Road & Rail (continued) | ||||||||
Avis Budget Group, Inc.(a) |
1,584 | $ | 374,552 | |||||
Hertz Global Holdings, Inc.(a)(b) |
21,821 | 401,506 | ||||||
Knight-Swift Transportation Holdings, Inc., Class A |
9,726 | 467,140 | ||||||
Lyft, Inc., Class A(a)(b) |
17,562 | 257,108 | ||||||
|
|
|||||||
1,826,439 | ||||||||
Semiconductors & Semiconductor Equipment — 0.7% | ||||||||
First Solar, Inc.(a) |
6,653 | 968,477 | ||||||
Qorvo, Inc. (a) |
7,289 | 627,437 | ||||||
Skyworks Solutions, Inc. |
13,172 | 1,132,924 | ||||||
Wolfspeed, Inc.(a) |
9,240 | 727,650 | ||||||
|
|
|||||||
3,456,488 | ||||||||
Software — 0.4% | ||||||||
Gen Digital, Inc. |
71,883 | 1,619,524 | ||||||
Guidewire Software, Inc.(a) |
6,038 | 358,718 | ||||||
|
|
|||||||
1,978,242 | ||||||||
Specialty Retail — 2.1% | ||||||||
Advance Auto Parts, Inc. |
3,919 | 744,296 | ||||||
AutoNation, Inc.(a)(b) |
4,677 | 497,212 | ||||||
AutoZone, Inc.(a) |
938 | 2,375,841 | ||||||
Bath & Body Works, Inc. |
18,862 | 629,614 | ||||||
Best Buy Co., Inc. |
24,329 | 1,664,347 | ||||||
CarMax, Inc.(a)(b) |
10,234 | 644,844 | ||||||
GameStop Corp., Class A(a)(b) |
16,905 | 478,580 | ||||||
Lithia Motors, Inc.(b) |
1,686 | 334,081 | ||||||
Penske Automotive Group, Inc.(b) |
3,145 | 351,045 | ||||||
RH(a)(b) |
1,191 | 302,431 | ||||||
Tractor Supply Co. |
5,484 | 1,205,219 | ||||||
Williams-Sonoma, Inc. |
4,640 | 574,571 | ||||||
|
|
|||||||
9,802,081 | ||||||||
Technology Hardware, Storage & Peripherals — 2.2% | ||||||||
Dell Technologies, Inc., Class C |
32,239 | 1,237,978 | ||||||
Hewlett Packard Enterprise Co. |
157,664 | 2,249,865 | ||||||
HP, Inc. |
110,427 | 3,049,994 | ||||||
NetApp, Inc. |
17,170 | 1,189,366 | ||||||
Seagate Technology Holdings PLC |
23,664 | 1,175,154 | ||||||
Western Digital Corp.(a) |
37,949 | 1,304,307 | ||||||
|
|
|||||||
10,206,664 | ||||||||
Textiles, Apparel & Luxury Goods — 0.3% | ||||||||
Capri Holdings Ltd.(a)(b) |
10,904 | 498,095 | ||||||
Tapestry, Inc. |
30,591 | 969,123 | ||||||
|
|
|||||||
1,467,218 | ||||||||
Trading Companies & Distributors — 0.9% | ||||||||
Fastenal Co. |
28,224 | 1,364,066 | ||||||
United Rentals, Inc.(a) |
4,133 | 1,304,829 | ||||||
Watsco, Inc. |
1,536 | 416,195 | ||||||
WW Grainger, Inc. |
2,217 | 1,295,504 | ||||||
|
|
|||||||
4,380,594 | ||||||||
Water Utilities — 0.4% | ||||||||
American Water Works Co., Inc. |
8,521 | 1,238,442 | ||||||
Essential Utilities, Inc. |
11,670 | 516,048 | ||||||
|
|
|||||||
1,754,490 | ||||||||
|
|
|||||||
Total
Long-Term Investments — 99.7% |
469,984,511 | |||||||
|
|
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) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 2.2% | ||||||||
BlackRock
Cash Funds: Institutional, |
9,403,921 | $ | 9,402,040 | |||||
BlackRock
Cash Funds: Treasury, |
719,799 | 719,799 | ||||||
|
|
|||||||
Total
Short-Term Securities — 2.2% |
10,121,839 | |||||||
|
|
|||||||
Total
Investments — 101.9% |
480,106,350 | |||||||
Liabilities in Excess of Other Assets — (1.9)% |
|
(8,858,829 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 471,247,521 | ||||||
|
|
(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. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended October 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | |
Value at 04/30/22 |
|
|
Purchases at Cost |
|
|
Proceeds from Sale |
|
|
Net Realized Gain (Loss) |
|
Change
in Unrealized Appreciation (Depreciation) |
|
|
Value at 10/31/22 |
|
|
Shares Held at 10/31/22 |
|
Income | |
Capital Gain Distributions from Underlying Funds |
|||||||||||||
BlackRock
Cash Funds: Institutional, |
$ | 10,213,576 | $ | — | $ | (808,845 | )(a) | $ | (766 | ) | $ | (1,925 | ) | $ | 9,402,040 | 9,403,921 | $ | 66,919 | (b) | $ | — | |||||||||||||||
BlackRock
Cash Funds: Treasury, |
865,000 | — | (145,201 | )(a) | — | — | 719,799 | 719,799 | 6,524 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | (766 | ) | $ | (1,925 | ) | $ | 10,121,839 | $ | 73,443 | $ | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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. |
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 Utilities Select Sector Index |
7 | 12/16/22 | $ 473 | $ | 3,395 | |||||||||
S&P Mid 400 E-Mini Index |
3 | 12/16/22 | 732 | 39,103 | ||||||||||
|
|
|||||||||||||
$ | 42,498 | |||||||||||||
|
|
S C H E D U L E S O F I N V E S T M E N T S |
13 |
Schedule of Investments (unaudited) (continued) October 31, 2022 |
iShares® Morningstar Mid-Cap Value ETF |
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:
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Assets — Derivative Financial Instruments |
||||||||||||||||||||||||||||
Futures contracts |
||||||||||||||||||||||||||||
Unrealized appreciation on futures contracts(a) |
$ | — | $ | — | $ | 42,498 | $ | — | $ | — | $ | — | $ | 42,498 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts, if any, 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 October 31, 2022, the effect of derivative financial instruments in the Statements of Operations was as follows:
Commodity Contracts |
Credit Contracts |
Equity Contracts |
Foreign Currency Exchange Contracts |
Interest Rate Contracts |
Other Contracts |
Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | (120,383 | ) | $ | — | $ | — | $ | — | $ | (120,383 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on |
||||||||||||||||||||||||||||
Futures contracts |
$ | — | $ | — | $ | 76,354 | $ | — | $ | — | $ | — | $ | 76,354 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts | ||||
Average notional value of contracts — long |
$ | 1,343,025 |
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
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 | |||||||||||||
Assets |
||||||||||||||||
Investments |
||||||||||||||||
Long-Term Investments |
||||||||||||||||
Common Stocks |
$ | 469,984,511 | $ | — | $ | — | $ | 469,984,511 | ||||||||
Short-Term Securities |
||||||||||||||||
Money Market Funds |
10,121,839 | — | — | 10,121,839 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 480,106,350 | $ | — | $ | — | $ | 480,106,350 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative Financial Instruments(a) |
||||||||||||||||
Assets |
||||||||||||||||
Equity Contracts |
$ | 42,498 | $ | — | $ | — | $ | 42,498 | ||||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
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) October 31, 2022 |
iShares® Morningstar Small-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Aerospace & Defense — 1.4% | ||||||||
AAR Corp.(a) |
2,017 | $ | 89,393 | |||||
Aerojet Rocketdyne Holdings, Inc.(a) |
4,477 | 216,911 | ||||||
AeroVironment, Inc.(a) |
1,493 | 136,609 | ||||||
AerSale Corp.(a) |
884 | 18,741 | ||||||
Archer Aviation, Inc., Class A(a)(b) |
8,216 | 23,416 | ||||||
Astra Space, Inc.(a) |
7,719 | 4,866 | ||||||
BWX Technologies, Inc. |
5,419 | 308,775 | ||||||
Cadre Holdings, Inc.(b) |
893 | 26,227 | ||||||
Curtiss-Wright Corp. |
2,272 | 381,310 | ||||||
Ducommun, Inc.(a) |
671 | 31,678 | ||||||
Hexcel Corp. |
4,984 | 277,609 | ||||||
Kaman Corp. |
1,649 | 52,933 | ||||||
Kratos Defense & Security Solutions, Inc.(a) |
7,527 | 83,399 | ||||||
Maxar Technologies, Inc. |
4,417 | 98,676 | ||||||
Mercury Systems, Inc.(a) |
3,430 | 166,012 | ||||||
Moog, Inc., Class A |
1,721 | 145,855 | ||||||
National Presto Industries, Inc. |
298 | 21,006 | ||||||
Parsons Corp.(a)(b) |
1,988 | 93,197 | ||||||
Redwire Corp.(a) |
985 | 2,699 | ||||||
Rocket Lab U.S.A., Inc.(a) |
12,648 | 64,378 | ||||||
Spirit AeroSystems Holdings, Inc., Class A |
6,263 | 145,051 | ||||||
Terran Orbital Corp.(a)(b) |
3,187 | 8,350 | ||||||
Triumph Group, Inc.(a) |
3,826 | 34,625 | ||||||
V2X, Inc.(a) |
643 | 26,356 | ||||||
Virgin Galactic Holdings, Inc.(a) |
13,222 | 61,086 | ||||||
Woodward, Inc. |
3,560 | 326,452 | ||||||
|
|
|||||||
2,845,610 | ||||||||
Air Freight & Logistics — 0.3% | ||||||||
Air Transport Services Group, Inc.(a) |
3,474 | 101,441 | ||||||
Atlas Air Worldwide Holdings, Inc.(a) |
1,533 | 155,048 | ||||||
Forward Air Corp. |
1,601 | 169,498 | ||||||
Hub Group, Inc., Class A(a) |
1,999 | 155,122 | ||||||
|
|
|||||||
581,109 | ||||||||
Airlines — 0.5% | ||||||||
Alaska Air Group, Inc.(a) |
7,500 | 333,450 | ||||||
Allegiant Travel Co.(a) |
912 | 68,446 | ||||||
Blade Air Mobility, Inc.(a) |
3,147 | 14,161 | ||||||
Frontier Group Holdings, Inc.(a) |
2,189 | 28,698 | ||||||
Hawaiian Holdings, Inc.(a) |
3,022 | 43,607 | ||||||
JetBlue Airways Corp.(a) |
19,195 | 154,328 | ||||||
Joby Aviation, Inc.(a)(b) |
16,767 | 80,817 | ||||||
SkyWest, Inc.(a) |
2,998 | 53,005 | ||||||
Spirit Airlines, Inc.(a) |
6,506 | 143,132 | ||||||
Sun Country Airlines Holdings, Inc.(a) |
1,902 | 30,964 | ||||||
Wheels Up Experience, Inc.(a)(b) |
9,987 | 17,677 | ||||||
|
|
|||||||
968,285 | ||||||||
Auto Components — 1.2% | ||||||||
Adient PLC(a) |
5,635 | 197,112 | ||||||
American Axle & Manufacturing Holdings, Inc.(a) |
6,804 | 65,931 | ||||||
Autoliv, Inc. |
4,636 | 372,502 | ||||||
Dana, Inc. |
7,510 | 119,860 | ||||||
Dorman Products, Inc.(a) |
1,681 | 137,203 | ||||||
Fox Factory Holding Corp.(a) |
2,504 | 219,976 | ||||||
Garrett Motion, Inc.(a)(b) |
3,430 | 22,775 | ||||||
Gentherm, Inc.(a) |
1,981 | 115,730 | ||||||
Goodyear Tire & Rubber Co.(a) |
16,794 | 213,284 | ||||||
Holley, Inc.(a)(b) |
2,941 | 11,705 | ||||||
LCI Industries |
1,498 | 158,953 | ||||||
Luminar Technologies, Inc.(a)(b) |
13,714 | 110,946 | ||||||
Modine Manufacturing Co.(a) |
3,065 | 54,925 |
Security | Shares | Value | ||||||
Auto Components (continued) | ||||||||
Patrick Industries, Inc. |
1,294 | $ | 59,149 | |||||
QuantumScape Corp.(a)(b) |
16,236 | 135,246 | ||||||
Solid Power, Inc.(a) |
6,616 | 37,116 | ||||||
Standard Motor Products, Inc. |
1,123 | 42,595 | ||||||
Stoneridge, Inc.(a) |
1,614 | 33,684 | ||||||
Tenneco, Inc., Class A(a)(b) |
4,918 | 96,885 | ||||||
Visteon Corp.(a) |
1,668 | 217,624 | ||||||
XPEL, Inc.(a)(b) |
1,151 | 79,638 | ||||||
|
|
|||||||
2,502,839 | ||||||||
Automobiles — 0.4% | ||||||||
Canoo, Inc.(a)(b) |
8,879 | 12,164 | ||||||
Faraday Future Intelligent Electric, Inc.(a)(b) |
6,920 | 3,738 | ||||||
Fisker, Inc.(a)(b) |
8,599 | 70,082 | ||||||
Harley-Davidson, Inc. |
7,872 | 338,496 | ||||||
Lordstown Motors Corp., Class A(a)(b) |
9,731 | 17,613 | ||||||
Mullen Automotive, Inc.(a)(b) |
23,697 | 11,289 | ||||||
Thor Industries, Inc. |
3,231 | 263,230 | ||||||
Winnebago Industries, Inc. |
1,870 | 111,620 | ||||||
Workhorse Group, Inc.(a)(b) |
9,592 | 25,898 | ||||||
|
|
|||||||
854,130 | ||||||||
Banks — 8.4% | ||||||||
1st Source Corp. |
1,224 | 71,188 | ||||||
Amerant Bancorp, Inc. |
1,552 | 46,715 | ||||||
Ameris Bancorp |
4,027 | 207,431 | ||||||
Associated Banc-Corp. |
9,121 | 222,096 | ||||||
Atlantic Union Bankshares Corp. |
4,527 | 156,363 | ||||||
Banc of California, Inc. |
3,601 | 60,065 | ||||||
BancFirst Corp. |
1,043 | 99,940 | ||||||
Bancorp, Inc.(a) |
2,833 | 78,134 | ||||||
Bank of Hawaii Corp. |
2,551 | 193,748 | ||||||
Bank of Marin Bancorp |
971 | 35,053 | ||||||
Bank OZK |
6,813 | 292,823 | ||||||
BankUnited, Inc. |
4,384 | 157,605 | ||||||
Banner Corp. |
1,557 | 116,386 | ||||||
Berkshire Hills Bancorp, Inc. |
2,458 | 71,897 | ||||||
BOK Financial Corp. |
1,753 | 193,163 | ||||||
Brookline Bancorp, Inc. |
3,486 | 47,933 | ||||||
Byline Bancorp, Inc. |
1,481 | 34,241 | ||||||
Cadence Bank |
9,893 | 273,541 | ||||||
Cambridge Bancorp |
465 | 40,850 | ||||||
Camden National Corp. |
963 | 41,910 | ||||||
Carter Bankshares, Inc.(a) |
1,570 | 28,103 | ||||||
Cathay General Bancorp |
4,622 | 210,763 | ||||||
Central Pacific Financial Corp. |
531 | 10,896 | ||||||
City Holding Co. |
657 | 66,258 | ||||||
Coastal Financial Corp.(a) |
642 | 29,930 | ||||||
Columbia Banking System, Inc. |
4,143 | 138,666 | ||||||
Community Bank System, Inc. |
3,105 | 193,845 | ||||||
Community Trust Bancorp, Inc. |
1,105 | 52,255 | ||||||
ConnectOne Bancorp, Inc. |
2,200 | 55,110 | ||||||
CrossFirst Bankshares, Inc.(a) |
2,702 | 37,585 | ||||||
Customers Bancorp, Inc.(a) |
1,896 | 63,876 | ||||||
CVB Financial Corp. |
7,816 | 224,476 | ||||||
Dime Community Bancshares, Inc. |
1,960 | 67,679 | ||||||
Eagle Bancorp, Inc. |
1,806 | 81,776 | ||||||
Eastern Bankshares, Inc. |
9,678 | 185,527 | ||||||
Enterprise Financial Services Corp. |
2,296 | 122,767 | ||||||
Equity Bancshares, Inc., Class A |
911 | 32,541 | ||||||
Farmers National Banc Corp. |
2,004 | 27,535 | ||||||
FB Financial Corp. |
2,167 | 90,927 | ||||||
Financial Institutions, Inc. |
1,131 | 26,952 | ||||||
First Bancorp |
2,074 | 92,438 |
S C H E D U L E S O F I N V E S T M E N T S |
15 |
Schedule of Investments (unaudited) (continued) October 31, 2022 |
iShares® Morningstar Small-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
First BanCorp |
10,188 | $ | 160,869 | |||||
First Bancshares, Inc. |
1,482 | 48,521 | ||||||
First Busey Corp. |
3,339 | 88,183 | ||||||
First Commonwealth Financial Corp. |
4,054 | 58,134 | ||||||
First Financial Bancorp |
4,193 | 109,312 | ||||||
First Financial Bankshares, Inc. |
7,680 | 295,603 | ||||||
First Financial Corp. |
776 | 37,628 | ||||||
First Foundation, Inc. |
3,195 | 50,992 | ||||||
First Hawaiian, Inc. |
7,621 | 194,945 | ||||||
First Internet Bancorp |
559 | 14,361 | ||||||
First Interstate BancSystem, Inc., Class A |
5,390 | 245,838 | ||||||
First Merchants Corp. |
3,565 | 160,068 | ||||||
First Mid Bancshares, Inc. |
1,275 | 45,658 | ||||||
First of Long Island Corp. |
1,556 | 27,354 | ||||||
Flushing Financial Corp. |
1,921 | 37,844 | ||||||
FNB Corp. |
21,883 | 316,209 | ||||||
Fulton Financial Corp. |
10,282 | 187,441 | ||||||
German American Bancorp, Inc. |
1,784 | 70,093 | ||||||
Glacier Bancorp, Inc. |
6,577 | 376,731 | ||||||
Great Southern Bancorp, Inc. |
658 | 40,783 | ||||||
Hancock Whitney Corp. |
5,166 | 288,624 | ||||||
Hanmi Financial Corp. |
1,167 | 31,252 | ||||||
HarborOne Bancorp, Inc. |
2,929 | 44,609 | ||||||
Heartland Financial U.S.A., Inc. |
2,360 | 116,395 | ||||||
Heritage Commerce Corp. |
3,959 | 56,614 | ||||||
Heritage Financial Corp. |
1,430 | 48,177 | ||||||
Hilltop Holdings, Inc. |
2,801 | 81,089 | ||||||
Home BancShares, Inc. |
11,391 | 290,357 | ||||||
HomeStreet, Inc. |
1,070 | 27,777 | ||||||
HomeTrust Bancshares, Inc. |
897 | 21,555 | ||||||
Hope Bancorp, Inc. |
5,422 | 73,577 | ||||||
Horizon Bancorp, Inc. |
2,502 | 37,305 | ||||||
Independent Bank Corp./MA |
2,673 | 232,578 | ||||||
Independent Bank Corp./MI |
1,660 | 38,396 | ||||||
Independent Bank Group, Inc. |
2,159 | 136,211 | ||||||
International Bancshares Corp. |
3,192 | 158,323 | ||||||
Lakeland Bancorp, Inc. |
4,241 | 79,095 | ||||||
Lakeland Financial Corp. |
1,569 | 129,678 | ||||||
Live Oak Bancshares, Inc. |
1,939 | 62,959 | ||||||
Mercantile Bank Corp. |
1,017 | 35,544 | ||||||
Metropolitan Bank Holding Corp.(a) |
654 | 43,164 | ||||||
Midland States Bancorp, Inc. |
1,462 | 40,994 | ||||||
MVB Financial Corp. |
657 | 16,267 | ||||||
National Bank Holdings Corp., Class A |
1,816 | 79,577 | ||||||
NBT Bancorp, Inc. |
2,022 | 95,823 | ||||||
Nicolet Bankshares, Inc.(a)(b) |
750 | 57,218 | ||||||
Northwest Bancshares, Inc. |
6,509 | 98,026 | ||||||
OceanFirst Financial Corp. |
3,824 | 86,346 | ||||||
OFG Bancorp |
2,383 | 66,438 | ||||||
Old National Bancorp |
17,388 | 340,109 | ||||||
Old Second Bancorp, Inc. |
2,492 | 39,872 | ||||||
Origin Bancorp, Inc. |
1,802 | 74,477 | ||||||
Pacific Premier Bancorp, Inc. |
5,451 | 198,471 | ||||||
PacWest Bancorp |
7,062 | 175,561 | ||||||
Park National Corp. |
921 | 135,848 | ||||||
Pathward Financial, Inc. |
1,755 | 73,763 | ||||||
Peapack-Gladstone Financial Corp. |
1,118 | 44,239 | ||||||
Peoples Bancorp, Inc. |
1,827 | 55,303 | ||||||
Pinnacle Financial Partners, Inc. |
4,525 | 375,530 | ||||||
Popular, Inc. |
4,463 | 315,623 | ||||||
Premier Financial Corp. |
2,307 | 66,557 | ||||||
Prosperity Bancshares, Inc. |
5,501 | 393,707 |
Security | Shares | Value | ||||||
Banks (continued) | ||||||||
QCR Holdings, Inc.(b) |
1,083 | $ | 54,919 | |||||
Renasant Corp. |
3,180 | 128,377 | ||||||
S&T Bancorp, Inc. |
2,069 | 78,229 | ||||||
Sandy Spring Bancorp, Inc. |
2,778 | 98,452 | ||||||
Seacoast Banking Corp. of Florida |
3,749 | 115,844 | ||||||
ServisFirst Bancshares, Inc. |
2,894 | 218,005 | ||||||
Silvergate Capital Corp., Class A(a) |
1,893 | 107,447 | ||||||
Simmons First National Corp., Class A |
6,638 | 158,449 | ||||||
Southern First Bancshares, Inc.(a) |
494 | 22,072 | ||||||
Southside Bancshares, Inc. |
1,959 | 67,076 | ||||||
SouthState Corp. |
4,494 | 406,392 | ||||||
Stellar Bancorp, Inc. |
2,719 | 89,292 | ||||||
Stock Yards Bancorp, Inc. |
1,753 | 137,067 | ||||||
Synovus Financial Corp. |
8,711 | 347,133 | ||||||
Texas Capital Bancshares, Inc.(a) |
2,978 | 178,680 | ||||||
Tompkins Financial Corp. |
816 | 67,597 | ||||||
Towne Bank |
4,245 | 139,830 | ||||||
TriCo Bancshares |
2,034 | 117,789 | ||||||
Triumph Bancorp, Inc.(a) |
1,427 | 73,491 | ||||||
Trustmark Corp. |
3,772 | 137,942 | ||||||
UMB Financial Corp. |
2,655 | 220,949 | ||||||
Umpqua Holdings Corp. |
13,085 | 260,130 | ||||||
United Bankshares, Inc. |
8,027 | 339,943 | ||||||
United Community Banks, Inc. |
5,926 | 228,151 | ||||||
Univest Financial Corp. |
1,912 | 53,804 | ||||||
Valley National Bancorp |
25,035 | 297,165 | ||||||
Veritex Holdings, Inc. |
3,247 | 102,540 | ||||||
Washington Federal, Inc. |
4,028 | 155,884 | ||||||
Washington Trust Bancorp, Inc. |
1,148 | 55,678 | ||||||
WesBanco, Inc. |
3,671 | 148,455 | ||||||
Westamerica BanCorp |
1,491 | 93,530 | ||||||
Wintrust Financial Corp. |
3,625 | 339,372 | ||||||
|
|
|||||||
16,750,266 | ||||||||
Beverages — 0.4% | ||||||||
Boston Beer Co., Inc., Class A, NVS(a) |
565 | 210,909 | ||||||
Celsius Holdings, Inc.(a)(b) |
2,378 | 216,588 | ||||||
Coca-Cola Consolidated, Inc. |
276 | 134,415 | ||||||
Duckhorn Portfolio, Inc.(a) |
2,489 | 36,389 | ||||||
MGP Ingredients, Inc.(b) |
922 | 103,310 | ||||||
National Beverage Corp. |
1,365 | 64,728 | ||||||
Vintage Wine Estates, Inc.(a)(b) |
2,448 | 6,781 | ||||||
Vita Coco Co., Inc.(a) |
1,406 | 14,426 | ||||||
|
|
|||||||
787,546 | ||||||||
Biotechnology — 5.8% | ||||||||
4D Molecular Therapeutics, Inc.(a)(b) |
1,698 | 14,705 | ||||||
Absci Corp.(a)(b) |
2,675 | 8,453 | ||||||
ACADIA Pharmaceuticals, Inc.(a) |
7,139 | 114,438 | ||||||
Adicet Bio, Inc.(a) |
1,823 | 30,061 | ||||||
ADMA Biologics, Inc.(a) |
10,524 | 29,678 | ||||||
Agenus, Inc.(a)(b) |
15,449 | 38,777 | ||||||
Agios Pharmaceuticals, Inc.(a)(b) |
3,291 | 90,634 | ||||||
Akero Therapeutics, Inc.(a) |
1,752 | 74,040 | ||||||
Albireo Pharma, Inc.(a)(b) |
1,009 | 20,705 | ||||||
Alector, Inc.(a) |
3,573 | 32,872 | ||||||
Alkermes PLC(a) |
9,730 | 220,871 | ||||||
Allogene Therapeutics, Inc.(a)(b) |
5,324 | 54,837 | ||||||
ALX Oncology Holdings, Inc.(a)(b) |
1,285 | 15,600 | ||||||
Amicus Therapeutics, Inc.(a) |
14,835 | 148,350 | ||||||
AnaptysBio, Inc.(a)(b) |
1,207 | 34,822 | ||||||
Anavex Life Sciences Corp.(a)(b) |
4,680 | 56,956 | ||||||
Apellis Pharmaceuticals, Inc.(a) |
5,522 | 334,026 | ||||||
Arcellx, Inc.(a) |
1,586 | 37,239 |
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) October 31, 2022 |
iShares® Morningstar Small-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Arcturus Therapeutics Holdings, Inc.(a)(b) |
1,448 | $ | 25,630 | |||||
Arcus Biosciences, Inc.(a) |
3,120 | 79,498 | ||||||
Arcutis Biotherapeutics, Inc.(a) |
2,340 | 41,371 | ||||||
Arrowhead Pharmaceuticals, Inc.(a) |
6,283 | 218,711 | ||||||
Atara Biotherapeutics, Inc.(a)(b) |
5,707 | 26,595 | ||||||
Avid Bioservices, Inc.(a) |
3,631 | 61,509 | ||||||
Avidity Biosciences, Inc.(a) |
3,061 | 43,711 | ||||||
Beam Therapeutics, Inc.(a)(b) |
3,518 | 155,003 | ||||||
BioCryst Pharmaceuticals, Inc.(a) |
11,063 | 147,691 | ||||||
Bioxcel Therapeutics, Inc.(a)(b) |
1,211 | 15,246 | ||||||
Blueprint Medicines Corp.(a) |
3,547 | 183,876 | ||||||
Bridgebio Pharma, Inc.(a)(b) |
6,280 | 65,500 | ||||||
C4 Therapeutics, Inc.(a) |
2,521 | 24,252 | ||||||
CareDx, Inc.(a) |
3,150 | 62,717 | ||||||
Caribou Biosciences, Inc.(a) |
3,163 | 30,808 | ||||||
Catalyst Pharmaceuticals, Inc.(a) |
5,684 | 78,837 | ||||||
Celldex Therapeutics, Inc.(a) |
2,756 | 96,818 | ||||||
Century Therapeutics, Inc.(a) |
1,190 | 12,495 | ||||||
Cerevel Therapeutics Holdings, Inc.(a) |
3,826 | 106,975 | ||||||
Chimerix, Inc.(a) |
5,154 | 9,123 | ||||||
Chinook Therapeutics, Inc.(a) |
2,593 | 56,398 | ||||||
Coherus Biosciences, Inc.(a) |
3,902 | 33,947 | ||||||
Crinetics Pharmaceuticals, Inc.(a) |
2,592 | 47,848 | ||||||
CRISPR Therapeutics AG(a)(b) |
4,617 | 241,654 | ||||||
CTI BioPharma Corp.(a) |
5,642 | 27,646 | ||||||
Cullinan Oncology, Inc.(a) |
1,695 | 22,272 | ||||||
Cytokinetics, Inc.(a) |
5,572 | 243,274 | ||||||
Day One Biopharmaceuticals, Inc.(a) |
1,596 | 33,739 | ||||||
Deciphera Pharmaceuticals, Inc.(a)(b) |
2,889 | 46,860 | ||||||
Denali Therapeutics, Inc.(a) |
6,419 | 184,097 | ||||||
Design Therapeutics, Inc.(a)(b) |
1,741 | 27,194 | ||||||
Dynavax Technologies Corp.(a)(b) |
6,920 | 79,234 | ||||||
Dyne Therapeutics, Inc.(a) |
1,501 | 17,111 | ||||||
Eagle Pharmaceuticals, Inc.(a) |
660 | 20,770 | ||||||
Editas Medicine, Inc.(a) |
4,046 | 50,777 | ||||||
Emergent BioSolutions, Inc.(a) |
2,610 | 54,445 | ||||||
Enanta Pharmaceuticals, Inc.(a) |
1,147 | 51,741 | ||||||
Enochian Biosciences, Inc.(a)(b) |
1,022 | 2,075 | ||||||
EQRx, Inc.(a) |
13,622 | 70,017 | ||||||
Erasca, Inc.(a)(b) |
3,507 | 28,652 | ||||||
Exelixis, Inc.(a) |
19,037 | 315,633 | ||||||
Fate Therapeutics, Inc.(a)(b) |
4,918 | 102,885 | ||||||
FibroGen, Inc.(a) |
5,137 | 83,630 | ||||||
Foghorn Therapeutics, Inc.(a) |
1,170 | 10,226 | ||||||
Gelesis Holdings, Inc.(a) |
1,646 | 613 | ||||||
Generation Bio Co.(a)(b) |
2,673 | 13,686 | ||||||
Geron Corp.(a) |
19,132 | 42,473 | ||||||
Gossamer Bio, Inc.(a)(b) |
4,528 | 50,261 | ||||||
GreenLight Biosciences Holdings PBC(a) |
4,624 | 8,231 | ||||||
Halozyme Therapeutics, Inc.(a) |
8,148 | 389,556 | ||||||
Heron Therapeutics, Inc.(a) |
5,971 | 22,988 | ||||||
HilleVax, Inc.(a) |
777 | 16,612 | ||||||
Humacyte, Inc.(a)(b) |
2,975 | 10,249 | ||||||
Ideaya Biosciences, Inc.(a) |
1,998 | 33,746 | ||||||
IGM Biosciences, Inc.(a)(b) |
520 | 10,400 | ||||||
Imago Biosciences, Inc.(a) |
1,420 | 24,140 | ||||||
ImmunityBio, Inc.(a)(b) |
6,059 | 33,325 | ||||||
ImmunoGen, Inc.(a) |
11,702 | 69,510 | ||||||
Immunovant, Inc.(a) |
2,642 | 29,590 | ||||||
Inhibrx, Inc.(a)(b) |
1,588 | 51,102 | ||||||
Inovio Pharmaceuticals, Inc.(a) |
14,641 | 31,625 | ||||||
Insmed, Inc.(a)(b) |
7,925 | 137,261 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Instil Bio, Inc.(a)(b) |
3,625 | $ | 11,963 | |||||
Intellia Therapeutics, Inc.(a) |
4,504 | 237,721 | ||||||
Intercept Pharmaceuticals, Inc.(a)(b) |
1,497 | 20,763 | ||||||
Ionis Pharmaceuticals, Inc.(a)(b) |
8,430 | 372,606 | ||||||
Iovance Biotherapeutics, Inc.(a)(b) |
8,079 | 75,458 | ||||||
Ironwood Pharmaceuticals, Inc.(a) |
7,984 | 87,345 | ||||||
iTeos Therapeutics, Inc.(a) |
1,441 | 28,071 | ||||||
IVERIC bio, Inc.(a) |
6,570 | 157,154 | ||||||
Janux Therapeutics, Inc.(a)(b) |
1,005 | 18,170 | ||||||
Karuna Therapeutics, Inc.(a) |
1,583 | 347,215 | ||||||
Karyopharm Therapeutics, Inc.(a) |
4,283 | 20,387 | ||||||
Keros Therapeutics, Inc.(a) |
954 | 48,024 | ||||||
Kezar Life Sciences, Inc.(a) |
3,053 | 22,943 | ||||||
Krystal Biotech, Inc.(a) |
1,283 | 98,149 | ||||||
Kura Oncology, Inc.(a) |
3,625 | 56,260 | ||||||
Kymera Therapeutics, Inc.(a)(b) |
2,156 | 65,413 | ||||||
Lyell Immunopharma, Inc.(a) |
8,406 | 49,427 | ||||||
MacroGenics, Inc.(a) |
3,411 | 17,464 | ||||||
Madrigal Pharmaceuticals, Inc.(a)(b) |
727 | 51,486 | ||||||
MannKind Corp.(a)(b) |
15,507 | 52,414 | ||||||
MeiraGTx Holdings PLC(a) |
1,539 | 11,189 | ||||||
MiMedx Group, Inc.(a) |
6,607 | 19,557 | ||||||
Mirati Therapeutics, Inc.(a)(b) |
2,971 | 200,008 | ||||||
Mirum Pharmaceuticals, Inc.(a) |
1,403 | 31,638 | ||||||
Monte Rosa Therapeutics, Inc.(a)(b) |
1,708 | 15,714 | ||||||
Morphic Holding, Inc.(a)(b) |
1,743 | 48,821 | ||||||
Myovant Sciences Ltd.(a) |
2,534 | 67,759 | ||||||
Myriad Genetics, Inc.(a) |
4,765 | 98,826 | ||||||
Natera, Inc.(a) |
5,747 | 269,879 | ||||||
Nkarta, Inc.(a)(b) |
1,910 | 24,085 | ||||||
Novavax, Inc.(a)(b) |
4,598 | 102,397 | ||||||
Nurix Therapeutics, Inc.(a)(b) |
2,570 | 32,716 | ||||||
Nuvalent, Inc., Class A(a) |
1,078 | 38,495 | ||||||
Ocugen, Inc.(a)(b) |
12,418 | 21,359 | ||||||
Organogenesis Holdings, Inc.(a) |
4,443 | 14,573 | ||||||
Pardes Biosciences, Inc.(a) |
930 | 1,116 | ||||||
PMV Pharmaceuticals, Inc.(a) |
1,909 | 23,500 | ||||||
Point Biopharma Global, Inc.(a) |
3,869 | 36,098 | ||||||
Praxis Precision Medicines, Inc.(a) |
2,186 | 4,306 | ||||||
Prometheus Biosciences, Inc.(a) |
1,745 | 91,647 | ||||||
Protagonist Therapeutics, Inc.(a) |
2,746 | 22,243 | ||||||
Prothena Corp. PLC(a)(b) |
2,107 | 129,454 | ||||||
PTC Therapeutics, Inc.(a) |
4,243 | 160,470 | ||||||
RAPT Therapeutics, Inc.(a) |
1,273 | 27,777 | ||||||
Recursion Pharmaceuticals, Inc., Class A(a) |
7,140 | 75,327 | ||||||
REGENXBIO, Inc.(a) |
2,216 | 52,453 | ||||||
Relay Therapeutics, Inc.(a) |
5,307 | 117,922 | ||||||
Replimune Group, Inc.(a) |
1,881 | 34,535 | ||||||
REVOLUTION Medicines, Inc.(a)(b) |
4,484 | 90,846 | ||||||
Rigel Pharmaceuticals, Inc.(a) |
10,813 | 7,878 | ||||||
Rocket Pharmaceuticals, Inc.(a) |
2,913 | 54,357 | ||||||
Roivant Sciences Ltd.(a)(b) |
6,188 | 31,806 | ||||||
Sage Therapeutics, Inc.(a) |
3,086 | 116,219 | ||||||
Sana Biotechnology, Inc.(a)(b) |
5,262 | 30,520 | ||||||
Sangamo Therapeutics, Inc.(a)(b) |
7,546 | 33,127 | ||||||
Sarepta Therapeutics, Inc.(a) |
5,183 | 590,966 | ||||||
Seres Therapeutics, Inc.(a)(b) |
5,367 | 47,552 | ||||||
Sorrento Therapeutics, Inc.(a) |
22,934 | 36,006 | ||||||
SpringWorks Therapeutics, Inc.(a) |
1,859 | 44,635 | ||||||
Stoke Therapeutics, Inc.(a) |
1,335 | 19,825 | ||||||
Syndax Pharmaceuticals, Inc.(a) |
3,124 | 71,727 | ||||||
Tango Therapeutics, Inc.(a) |
2,600 | 20,904 |
S C H E D U L E S O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) October 31, 2022 |
iShares® Morningstar Small-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Tenaya Therapeutics, Inc.(a) |
1,255 | $ | 3,363 | |||||
TG Therapeutics, Inc.(a)(b) |
8,059 | 46,903 | ||||||
Travere Therapeutics, Inc.(a) |
3,242 | 70,287 | ||||||
Twist Bioscience Corp.(a)(b) |
3,381 | 110,998 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) |
4,164 | 168,475 | ||||||
uniQure NV(a) |
2,413 | 44,930 | ||||||
Vanda Pharmaceuticals, Inc.(a) |
3,295 | 34,499 | ||||||
Vaxart, Inc.(a) |
7,795 | 13,018 | ||||||
Vaxcyte, Inc.(a) |
3,523 | 153,638 | ||||||
Vera Therapeutics, Inc.(a) |
784 | 14,614 | ||||||
Veracyte, Inc.(a) |
4,220 | 84,864 | ||||||
Vericel Corp.(a) |
2,787 | 74,915 | ||||||
Verve Therapeutics, Inc.(a)(b) |
2,395 | 90,291 | ||||||
Vir Biotechnology, Inc.(a) |
4,527 | 99,503 | ||||||
Xencor, Inc.(a) |
3,582 | 100,296 | ||||||
Y-mAbs Therapeutics, Inc.(a) |
1,961 | 7,079 | ||||||
Zentalis Pharmaceuticals, Inc.(a)(b) |
2,586 | 64,883 | ||||||
|
|
|||||||
11,662,144 | ||||||||
Building Products — 1.0% | ||||||||
AAON, Inc. |
2,491 | 160,645 | ||||||
American Woodmark Corp.(a) |
981 | 44,488 | ||||||
Apogee Enterprises, Inc. |
1,335 | 61,250 | ||||||
Armstrong World Industries, Inc. |
2,751 | 207,893 | ||||||
AZEK Co., Inc.(a)(b) |
6,531 | 114,358 | ||||||
Gibraltar Industries, Inc.(a) |
1,872 | 95,622 | ||||||
Griffon Corp. |
2,850 | 91,599 | ||||||
Hayward Holdings, Inc.(a)(b) |
5,938 | 54,926 | ||||||
Insteel Industries, Inc. |
1,136 | 29,934 | ||||||
Janus International Group, Inc.(a)(b) |
4,605 | 44,346 | ||||||
JELD-WEN Holding, Inc.(a) |
4,975 | 52,785 | ||||||
Masonite International Corp.(a) |
1,315 | 94,062 | ||||||
PGT Innovations, Inc.(a) |
3,527 | 75,160 | ||||||
Quanex Building Products Corp. |
1,972 | 43,699 | ||||||
Resideo Technologies, Inc.(a) |
8,654 | 204,407 | ||||||
Simpson Manufacturing Co., Inc. |
2,562 | 219,000 | ||||||
Tecnoglass, Inc. |
1,192 | 24,472 | ||||||
UFP Industries, Inc. |
3,648 | 259,847 | ||||||
Zurn Elkay Water Solutions Corp. |
8,631 | 202,742 | ||||||
|
|
|||||||
2,081,235 | ||||||||
Capital Markets — 2.1% | ||||||||
Affiliated Managers Group, Inc. |
2,272 | 282,092 | ||||||
Artisan Partners Asset Management, Inc., Class A |
4,046 | 115,352 | ||||||
AssetMark Financial Holdings, Inc.(a) |
1,287 | 26,654 | ||||||
B Riley Financial, Inc. |
963 | 39,175 | ||||||
BGC Partners, Inc., Class A |
19,285 | 76,369 | ||||||
Blucora, Inc.(a) |
2,846 | 62,697 | ||||||
Blue Owl Capital, Inc. |
20,060 | 201,001 | ||||||
Bridge Investment Group Holdings, Inc., Class A |
1,626 | 25,463 | ||||||
Brightsphere Investment Group, Inc. |
1,965 | 36,981 | ||||||
Cohen & Steers, Inc. |
1,494 | 89,879 | ||||||
Cowen, Inc., Class A |
1,547 | 59,745 | ||||||
Diamond Hill Investment Group, Inc. |
185 | 33,291 | ||||||
Donnelley Financial Solutions, Inc.(a) |
1,510 | 61,049 | ||||||
Evercore, Inc., Class A |
2,140 | 224,914 | ||||||
Federated Hermes, Inc., Class B |
5,045 | 175,314 | ||||||
Focus Financial Partners, Inc., Class A(a) |
3,431 | 119,365 | ||||||
Forge Global Holdings, Inc.(a)(b) |
6,151 | 9,534 | ||||||
Freedom Holding Corp.(a)(b) |
1,013 | 56,181 | ||||||
GCM Grosvenor, Inc., Class A |
2,674 | 22,114 | ||||||
Hamilton Lane, Inc., Class A |
2,097 | 125,443 | ||||||
Houlihan Lokey, Inc., Class A |
2,954 | 263,851 | ||||||
Interactive Brokers Group, Inc., Class A |
6,102 | 489,075 |
Security | Shares | Value | ||||||
Capital Markets (continued) | ||||||||
Janus Henderson Group PLC |
7,891 | $ | 179,678 | |||||
Moelis & Co., Class A |
3,827 | 162,494 | ||||||
Open Lending Corp., Class A(a) |
6,269 | 44,949 | ||||||
Oppenheimer Holdings, Inc., Class A, NVS |
461 | 15,868 | ||||||
P10, Inc., Class A |
2,106 | 21,881 | ||||||
Piper Sandler Cos |
819 | 104,807 | ||||||
PJT Partners, Inc., Class A |
1,450 | 107,880 | ||||||
StepStone Group, Inc., Class A |
2,887 | 85,224 | ||||||
Stifel Financial Corp. |
6,298 | 389,657 | ||||||
StoneX Group, Inc.(a) |
1,039 | 96,960 | ||||||
TPG, Inc.(b) |
3,051 | 93,818 | ||||||
Victory Capital Holdings, Inc., Class A |
1,609 | 46,532 | ||||||
Virtu Financial, Inc., Class A |
5,714 | 127,879 | ||||||
Virtus Investment Partners, Inc. |
405 | 69,453 | ||||||
WisdomTree, Inc. |
6,941 | 37,690 | ||||||
|
|
|||||||
4,180,309 | ||||||||
Chemicals — 2.5% | ||||||||
AdvanSix, Inc. |
1,668 | 60,682 | ||||||
American Vanguard Corp. |
1,706 | 39,699 | ||||||
Amyris, Inc.(a)(b) |
13,391 | 37,629 | ||||||
Ashland, Inc. |
2,949 | 309,409 | ||||||
Aspen Aerogels, Inc.(a) |
1,802 | 22,849 | ||||||
Avient Corp. |
5,043 | 173,933 | ||||||
Axalta Coating Systems Ltd.(a) |
13,054 | 304,419 | ||||||
Balchem Corp. |
1,902 | 265,900 | ||||||
Cabot Corp. |
3,343 | 245,644 | ||||||
Chase Corp. |
450 | 42,394 | ||||||
Chemours Co. |
9,195 | 263,253 | ||||||
Danimer Scientific, Inc.(a)(b) |
5,186 | 13,587 | ||||||
Diversey Holdings Ltd.(a)(b) |
4,525 | 24,435 | ||||||
Ecovyst, Inc.(a) |
4,087 | 40,666 | ||||||
Element Solutions, Inc. |
13,529 | 232,699 | ||||||
FutureFuel Corp. |
1,850 | 12,654 | ||||||
Ginkgo Bioworks Holdings, Inc.(a)(b) |
48,669 | 132,866 | ||||||
Hawkins, Inc. |
1,119 | 50,389 | ||||||
HB Fuller Co. |
3,159 | 220,214 | ||||||
Huntsman Corp. |
11,239 | 300,756 | ||||||
Ingevity Corp.(a)(b) |
2,125 | 142,949 | ||||||
Innospec, Inc. |
1,482 | 148,185 | ||||||
Intrepid Potash, Inc.(a) |
604 | 27,331 | ||||||
Koppers Holdings, Inc. |
1,218 | 30,401 | ||||||
Kronos Worldwide, Inc. |
1,360 | 12,920 | ||||||
Livent Corp.(a) |
10,600 | 334,642 | ||||||
LSB Industries, Inc.(a) |
2,307 | 40,672 | ||||||
Mativ Holdings, Inc. |
3,212 | 76,253 | ||||||
Minerals Technologies, Inc. |
1,954 | 107,490 | ||||||
NewMarket Corp. |
410 | 124,779 | ||||||
Origin Materials, Inc.(a)(b) |
7,281 | 41,356 | ||||||
Perimeter Solutions SA(a) |
9,014 | 72,022 | ||||||
PureCycle Technologies, Inc.(a) |
7,782 | 64,357 | ||||||
Quaker Chemical Corp. |
805 | 130,925 | ||||||
Scotts Miracle-Gro Co., Class A |
2,424 | 111,286 | ||||||
Sensient Technologies Corp. |
2,479 | 177,149 | ||||||
Stepan Co. |
1,266 | 132,221 | ||||||
Tredegar Corp. |
1,585 | 17,261 | ||||||
Trinseo PLC |
2,064 | 38,844 | ||||||
Tronox Holdings PLC |
6,743 | 80,916 | ||||||
Valvoline, Inc. |
10,481 | 307,722 | ||||||
|
|
|||||||
5,013,758 | ||||||||
Commercial Services & Supplies — 1.7% | ||||||||
ABM Industries, Inc. |
3,976 | 176,972 | ||||||
ACCO Brands Corp. |
5,696 | 26,202 |
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) October 31, 2022 |
iShares® Morningstar Small-Cap ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Commercial Services & Supplies (continued) | ||||||||
ACV Auctions, Inc., Class A(a)(b) |
6,875 | $ | 62,700 | |||||
Aris Water Solution, Inc., Class A |
1,499 | 25,528 | ||||||
Aurora Innovation, Inc.(a)(b) |
21,242 | 43,758 | ||||||
Brady Corp., Class A, NVS |
2,757 | 126,133 | ||||||
BrightView Holdings, Inc.(a) |
2,264 | 20,195 | ||||||
Brink’s Co. |
2,801 | 167,024 | ||||||
Casella Waste Systems, Inc., Class A(a) |
2,998 | 245,266 | ||||||
Cimpress PLC(a) |
1,149 | 26,749 | ||||||
Clean Harbors, Inc.(a) |
2,975 | 364,318 | ||||||
CoreCivic, Inc.(a) |
6,921 | 72,463 | ||||||
Deluxe Corp. |
2,548 | 46,832 | ||||||
Driven Brands Holdings, Inc.(a)(b) |
3,286 | 105,086 | ||||||
Ennis, Inc. |
1,531 | 34,539 | ||||||
GEO Group, Inc.(a) |
6,579 | 55,658 | ||||||
Harsco Corp.(a) |
4,677 | 24,741 | ||||||
Healthcare Services Group, Inc. |
4,403 | 61,466 | ||||||
Heritage-Crystal Clean, Inc.(a) |
980 | 26,921 | ||||||
HNI Corp. |
2,462 | 71,373 | ||||||
IAA, Inc.(a)(b) |
7,917 | 300,292 | ||||||
Interface, Inc. |
3,528 | 39,902 | ||||||
KAR Auction Services, Inc.(a) |
6,831 | 99,254 | ||||||
Matthews International Corp., Class A |
1,815 | 48,787 | ||||||
MillerKnoll, Inc. |
4,474 | 94,759 | ||||||
Montrose Environmental Group, Inc.(a) |
1,628 | 71,274 | ||||||
MSA Safety, Inc. |
2,178 | 292,375 | ||||||
SP Plus Corp.(a) |
1,395 | 51,657 | ||||||
Steelcase, Inc., Class A |
5,558 | 43,186 | ||||||
Stericycle, Inc.(a) |
5,465 | 243,630 | ||||||
UniFirst Corp. |
900 | 165,609 | ||||||
Viad Corp.(a) |
1,231 | 45,892 | ||||||
VSE Corp. |
620 | 28,700 | ||||||
|
|
|||||||
3,309,241 | ||||||||
Communications Equipment — 0.9% | ||||||||
ADTRAN Holdings, Inc. |
4,173 | 93,726 | ||||||
Calix, Inc.(a) |
3,352 | 246,841 | ||||||
Cambium Networks Corp.(a) |
688 | 13,313 | ||||||
Casa Systems, Inc.(a) |
1,985 | 6,253 | ||||||
Clearfield, Inc.(a) |
680 | 82,600 | ||||||
CommScope Holding Co., Inc.(a) |
12,400 | 164,176 | ||||||
Comtech Telecommunications Corp. |
1,661 | 18,354 | ||||||
Digi International, Inc.(a) |
2,081 | 83,927 | ||||||
Extreme Networks, Inc.(a) |
7,626 | 136,810 | ||||||
Harmonic, Inc.(a) |
6,186 | 95,574 | ||||||
Infinera Corp.(a)(b) |
11,112 | 62,338 | ||||||
Lumentum Holdings, Inc.(a)(b) |
4,084 | 304,054 | ||||||
NETGEAR, Inc.(a) |
1,703 | 33,464 | ||||||
NetScout Systems, Inc.(a) |
4,051 | 145,512 | ||||||
Ribbon Communications, Inc.(a) |
4,211 | 11,159 | ||||||
Viasat, Inc.(a) |
4,487 | 183,787 | ||||||