|
SEPTEMBER 30, 2021 |
2021 Semi-Annual Report (Unaudited)
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iShares Trust
· |
iShares Biotechnology ETF | IBB | NASDAQ |
· |
iShares Expanded Tech Sector ETF | IGM | NYSE Arca |
· |
iShares Expanded Tech-Software Sector ETF | IGV | Cboe BZX |
· |
iShares North American Natural Resources ETF | IGE | Cboe BZX |
· |
iShares North American Tech-Multimedia Networking ETF | IGN | NYSE Arca |
· |
iShares Semiconductor ETF | SOXX | NASDAQ |
Dear Shareholder,
The 12-month reporting period as of September 30, 2021 was a remarkable period of adaptation and recovery, as the global economy dealt with the implications of the coronavirus (or “COVID-19”) pandemic. The United States began the reporting period as the initial reopening-led economic rebound was beginning to slow. Nonetheless, the economy continued to grow at a brisk pace for the reporting period, eventually regaining the output lost from the pandemic.
Equity prices rose with the broader economy, as strong fiscal and monetary support, as well as the development of vaccines, made investors increasingly optimistic about the economic outlook. The implementation of mass vaccination campaigns and passage of two additional fiscal stimulus packages further boosted stocks, and many equity indices neared or surpassed all-time highs late in the reporting period. In the United States, returns of small-capitalization stocks, which benefited the most from the resumption of in-person activities, outpaced large-capitalization stocks. International equities also gained, as both developed and emerging markets continued to recover from the effects of the pandemic.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) had fallen sharply prior to the beginning of the reporting period, which meant bonds were priced for extreme risk avoidance and economic disruption. Despite expectations of doom and gloom, the economy expanded rapidly, stoking inflation concerns in early 2021, which led to higher yields and a negative overall return for most U.S. Treasuries. In the corporate bond market, support from the U.S. Federal Reserve (the “Fed”) assuaged credit concerns and led to solid returns for high-yield corporate bonds, although investment-grade corporates declined slightly.
The Fed remained committed to accommodative monetary policy by maintaining near-zero interest rates and by reiterating that inflation could exceed its 2% target for a sustained period without triggering a rate increase. In response to rising inflation late in the period, the Fed changed its market guidance, raising the possibility of higher rates in 2022 and reducing bond purchasing beginning in late 2021.
Looking ahead, we believe that the global expansion will continue to broaden as Europe and other developed market economies gain momentum, although the delta variant of the coronavirus remains a threat, particularly in emerging markets. While we expect inflation to remain elevated in the medium-term as the expansion continues, we believe the recent uptick owes more to temporary supply disruptions than a lasting change in fundamentals. The change in Fed policy also means that moderate inflation is less likely to be followed by interest rate hikes that could threaten the economic expansion.
Overall, we favor a moderately positive stance toward risk, with an overweight in equities. 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. small-capitalization stocks and European equities are likely to benefit from the continuing vaccine-led restart, while Chinese equities stand to gain from a more accommodative monetary and fiscal environment as the Chinese economy slows. 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,
Trust
Rob Kapito
President, BlackRock, Inc.
Rob Kapito
President, BlackRock, Inc.
Total Returns as of September 30, 2021
| ||||
6-Month | 12-Month | |||
U.S.
large cap equities |
9.18% | 30.00% | ||
U.S.
small cap equities |
(0.25) | 47.68 | ||
International
equities |
4.70 | 25.73 | ||
Emerging
market equities |
(3.45) | 18.20 | ||
3-month Treasury bills |
0.01 | 0.07 | ||
U.S.
Treasury securities |
2.92 | (6.22) | ||
U.S.
investment grade bonds |
1.88 | (0.90) | ||
Tax-exempt municipal bonds |
1.24 | 2.71 | ||
U.S.
high yield bonds |
3.65 | 11.27 | ||
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 |
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Financial Statements |
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34 | ||||
36 | ||||
39 | ||||
45 | ||||
55 | ||||
61 | ||||
62 | ||||
63 |
Fund Summary as of September 30, 2021 | iShares® Biotechnology ETF |
Investment Objective
The iShares Biotechnology ETF (the “Fund”) (formerly the iShares Nasdaq Biotechnology ETF) seeks to track the investment results of an index composed of U.S.-listed equities in the biotechnology sector, as represented by the ICE Biotechnology Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
7.60 | % | 19.59 | % | 11.13 | % | 18.15 | % | 19.59 | % | 69.49 | % | 430.14 | % | ||||||||||||||||||
Fund Market |
7.48 | 19.66 | 11.14 | 18.16 | 19.66 | 69.55 | 430.62 | |||||||||||||||||||||||||
Index(a) |
7.83 | 20.06 | 11.51 | 18.50 | 20.06 | 72.41 | 446.09 | |||||||||||||||||||||||||
Nasdaq Biotechnology Index |
7.97 | 20.21 | 11.54 | 18.52 | 20.21 | 72.64 | 446.81 | |||||||||||||||||||||||||
ICE Biotechnology Index(b) |
N/A | N/A | N/A | N/A | N/A | N/A | N/A |
(a) |
Index performance through June 20, 2021 reflects the performance of the NASDAQ Biotechnology Index. Index performance beginning on June 21, 2021 reflects the performance of the ICE Biotechnology Index, which, effective as of June 21, 2021, replaced the NASDAQ Biotechnology Index as the underlying index of the fund. |
(b) |
The inception date of the ICE Biotechnology Index was April 13, 2021. The cumulative total return for this index for the period April 13, 2021 through September 30, 2021 was 10.20%. |
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
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Beginning Account Value (04/01/21) |
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Ending Account Value (09/30/21) |
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|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 1,076.00 | $ | 2.29 | $ | 1,000.00 | $ | 1,022.90 | $ | 2.23 | 0.44 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Biotechnology |
76.9 | % | ||
Life Sciences Tools & Services |
19.0 | |||
Pharmaceuticals |
1.8 | |||
Health Care Providers & Services |
1.2 | |||
Other (each representing less than 1%) |
1.1 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
Moderna Inc. |
8.7 | % | ||
Amgen Inc. |
8.1 | |||
Gilead Sciences Inc. |
6.8 | |||
Regeneron Pharmaceuticals Inc. |
4.8 | |||
Illumina Inc. |
3.8 | |||
Vertex Pharmaceuticals Inc. |
3.7 | |||
BioNTech SE |
3.6 | |||
IQVIA Holdings Inc. |
3.6 | |||
Biogen Inc. |
3.3 | |||
Mettler-Toledo International Inc. |
2.5 |
4 |
2 0 2 1 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 September 30, 2021 | iShares® Expanded Tech Sector ETF |
Investment Objective
The iShares Expanded Tech Sector ETF (the “Fund”) seeks to track the investment results of an index composed of North American equities in the technology sector and select North American equities from communication services and consumer discretionary sectors, as represented by the S&P North American Expanded Technology Sector 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 | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
12.00 | % | 30.86 | % | 27.32 | % | 22.84 | % | 30.86 | % | 234.63 | % | 682.40 | % | ||||||||||||||||||
Fund Market |
11.95 | 30.86 | 27.33 | 22.84 | 30.86 | 234.72 | 682.22 | |||||||||||||||||||||||||
Index |
12.23 | 31.40 | 27.88 | 23.39 | 31.40 | 242.01 | 718.25 |
Index performance through December 23, 2018 reflects the performance of the S&P North American Technology Sector IndexTM. Index Performance beginning on December 24, 2018 reflects the performance of the S&P North American Expanded Technology Sector IndexTM.
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 1,120.00 | $ | 2.18 | $ | 1,000.00 | $ | 1,023.00 | $ | 2.08 | 0.41 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Interactive Media & Services |
15.9 | % | ||
Semiconductors |
13.6 | |||
Application Software |
12.2 | |||
Systems Software |
12.2 | |||
Data Processing & Outsourced Services |
10.9 | |||
Internet & Direct Marketing Retail |
9.4 | |||
Technology Hardware, Storage & Peripherals |
9.3 | |||
IT Consulting & Other Services |
3.3 | |||
Internet Services & Infrastructure |
3.0 | |||
Semiconductor Equipment |
2.5 | |||
Communications Equipment |
2.5 | |||
Movies & Entertainment |
1.9 | |||
Other (each representing less than 1%) |
3.3 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
Microsoft Corp. |
8.5 | % | ||
Amazon.com Inc. |
8.5 | |||
Apple Inc. |
8.3 | |||
Facebook Inc., Class A |
5.8 | |||
Alphabet Inc., Class A |
4.3 | |||
Alphabet Inc., Class C |
4.0 | |||
NVIDIA Corp. |
3.7 | |||
Visa Inc., Class A |
2.7 | |||
PayPal Holdings Inc. |
2.2 | |||
Mastercard Inc., Class A |
2.2 |
F U N D S U M M A R Y |
5 |
Fund Summary as of September 30, 2021 | iShares® Expanded Tech-Software Sector ETF |
Investment Objective
The iShares Expanded Tech-Software Sector ETF (the “Fund”) seeks to track the investment results of an index composed of North American equities in the software industry and select North American equities from interactive home entertainment and interactive media and services industries, as represented by the S&P North American Expanded Technology Software 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 | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
16.93 | % | 27.98 | % | 28.81 | % | 22.95 | % | 27.98 | % | 254.57 | % | 689.69 | % | ||||||||||||||||||
Fund Market |
16.90 | 28.29 | 28.82 | 22.95 | 28.29 | 254.72 | 689.55 | |||||||||||||||||||||||||
Index |
17.18 | 28.51 | 29.21 | 23.41 | 28.51 | 260.11 | 719.46 |
Index performance through December 23, 2018 reflects the performance of the S&P North American Technology Software IndexTM. Index performance beginning on December 24, 2018 reflects the performance of the S&P North American Expanded Technology Software IndexTM.
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 1,169.30 | $ | 2.23 | $ | 1,000.00 | $ | 1,023.00 | $ | 2.08 | 0.41 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Software |
90.8 | % | ||
Entertainment |
5.0 | |||
Interactive Media & Services |
3.0 | |||
IT Services |
1.2 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
salesforce.com Inc. |
9.3 | % | ||
Microsoft Corp. |
8.5 | |||
Adobe Inc. |
7.8 | |||
Intuit Inc. |
5.8 | |||
Oracle Corp. |
5.6 | |||
ServiceNow Inc. |
4.8 | |||
Snap Inc., Class A |
3.0 | |||
Autodesk Inc. |
2.5 | |||
Activision Blizzard Inc. |
2.4 | |||
Zoom Video Communications Inc., Class A |
2.2 |
6 |
2 0 2 1 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 September 30, 2021 | iShares® North American Natural Resources ETF |
Investment Objective
The iShares North American Natural Resources ETF (the “Fund”) seeks to track the investment results of an index composed of North American equities in the natural resources sector, as represented by the S&P North American Natural Resources Sector 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 | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
8.07 | % | 53.17 | % | 0.15 | % | 1.32 | % | 53.17 | % | 0.76 | % | 13.98 | % | ||||||||||||||||||
Fund Market |
8.11 | 53.14 | 0.16 | 1.32 | 53.14 | 0.80 | 14.02 | |||||||||||||||||||||||||
Index |
8.36 | 53.93 | 0.68 | 1.83 | 53.93 | 3.47 | 19.83 |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
Ending Account Value (09/30/21) |
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
Ending Account Value (09/30/21) |
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||||||
$ | 1,000.00 | $ | 1,080.70 | $ | 2.14 | $ | 1,000.00 | $ | 1,023.00 | $ | 2.08 | 0.41 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Oil, Gas & Consumable Fuels |
66.6 | % | ||
Metals & Mining |
14.6 | |||
Containers & Packaging |
9.4 | |||
Energy Equipment & Services |
5.5 | |||
Construction Materials |
3.0 | |||
Paper & Forest Products |
0.9 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
Exxon Mobil Corp. |
10.2 | % | ||
Chevron Corp. |
10.0 | |||
ConocoPhillips |
4.7 | |||
Enbridge Inc. |
4.4 | |||
Freeport-McMoRan Inc. |
2.7 | |||
TC Energy Corp. |
2.6 | |||
EOG Resources Inc. |
2.6 | |||
Newmont Corp. |
2.4 | |||
Canadian Natural Resources Ltd. |
2.4 | |||
Schlumberger NV |
2.3 |
F U N D S U M M A R Y |
7 |
Fund Summary as of September 30, 2021 | iShares® North American Tech-Multimedia Networking ETF |
Investment Objective
The iShares North American Tech-Multimedia Networking ETF (the “Fund”) seeks to track the investment results of an index composed of North American equities in the multimedia and networking technology sectors, as represented by the S&P North American Technology Multimedia Networking 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 | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
2.90 | % | 48.49 | % | 11.61 | % | 11.49 | % | 48.49 | % | 73.21 | % | 196.62 | % | ||||||||||||||||||
Fund Market |
2.86 | 48.70 | 11.65 | 11.50 | 48.70 | 73.47 | 197.03 | |||||||||||||||||||||||||
Index |
3.11 | 49.03 | 11.97 | 11.84 | 49.03 | 76.00 | 206.22 |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 1,029.00 | $ | 2.09 | $ | 1,000.00 | $ | 1,023.00 | $ | 2.08 | 0.41 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Communications Equipment |
97.4 | % | ||
Alternative Carriers |
2.6 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
F5 Networks Inc. |
8.6 | % | ||
Juniper Networks Inc. |
8.6 | |||
Arista Networks Inc. |
8.4 | |||
Motorola Solutions Inc. |
8.4 | |||
Cisco Systems Inc. |
8.2 | |||
Viasat Inc. |
5.2 | |||
Calix Inc. |
5.0 | |||
NetScout Systems Inc. |
4.6 | |||
Viavi Solutions Inc. |
4.5 | |||
Ubiquiti Inc. |
4.4 |
8 |
2 0 2 1 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 September 30, 2021 | iShares® Semiconductor ETF |
Investment Objective
The iShares Semiconductor ETF (the “Fund”) (formerly the iShares PHLX Semiconductor ETF) seeks to track the investment results of an index composed of U.S.-listed equities in the semiconductor sector, as represented by the ICE Semiconductor Index (the “Index”). The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. Due to the use of representative sampling, the Fund may or may not hold all of the securities that are included in the Index.
Performance
Average Annual Total Returns | Cumulative Total Returns | |||||||||||||||||||||||||||||||
6 Months | 1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
Fund NAV |
5.51 | % | 47.50 | % | 33.07 | % | 27.09 | % | 47.50 | % | 317.25 | % | 999.20 | % | ||||||||||||||||||
Fund Market |
5.54 | 47.48 | 33.08 | 27.08 | 47.48 | 317.36 | 998.83 | |||||||||||||||||||||||||
Index(a) |
5.75 | 48.22 | 33.74 | 27.71 | 48.22 | 327.79 | 1,054.12 | |||||||||||||||||||||||||
PHLX Semiconductor Sector Index |
4.89 | 47.01 | 33.52 | 27.61 | 47.01 | 324.30 | 1,044.70 | |||||||||||||||||||||||||
ICE Semiconductor Index(b) |
N/A | N/A | N/A | N/A | N/A | N/A | N/A |
(a) |
Index performance through June 20, 2021 reflects the performance of the PHLX Semiconductor Sector Index. Index performance beginning on June 21, 2021 reflects the performance of the ICE Semiconductor Index, which, effective as of June 21, 2021, replaced the PHLX Semiconductor Sector Index as the underlying index of the fund. |
(b) |
The inception date of the ICE Semiconductor Index was April 13, 2021. The cumulative total return for this index for the period April 13, 2021 through September 30, 2021 was 2.03%. |
Certain sectors and markets performed exceptionally well based on market conditions during the one-year period. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such exceptional returns will be repeated.
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 10 for more information.
Expense Example
Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
|
Beginning Account Value (04/01/21) |
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|
Ending Account Value (09/30/21) |
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|
Expenses Paid During the Period |
(a) |
|
Beginning Account Value (04/01/21) |
|
|
Ending Account Value (09/30/21) |
|
|
Expenses Paid During the Period |
(a) |
|
Annualized Expense Ratio |
| ||||||||||
$ | 1,000.00 | $ | 1,055.10 | $ | 2.11 | $ | 1,000.00 | $ | 1,023.00 | $ | 2.08 | 0.41 | % |
(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 (183 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 10 for more information. |
Portfolio Information
ALLOCATION BY SECTOR
Sector | |
Percent of Total Investments |
(a) | |
Semiconductors |
80.3 | % | ||
Semiconductor Equipment |
19.7 |
(a) |
Excludes money market funds. |
TEN LARGEST HOLDINGS
Security | |
Percent of Total Investments |
(a) | |
Intel Corp. |
8.3 | % | ||
Broadcom Inc. |
8.2 | |||
NVIDIA Corp. |
7.8 | |||
Texas Instruments Inc. |
6.0 | |||
QUALCOMM Inc. |
5.3 | |||
Analog Devices Inc. |
4.3 | |||
Marvell Technology Inc. |
4.1 | |||
KLA Corp. |
4.1 | |||
Micron Technology Inc. |
4.0 | |||
Microchip Technology Inc. |
4.0 |
F U N D S U M M A R Y |
9 |
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. 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.
As a shareholder of your Fund, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares and (2) ongoing costs, including management fees and other fund expenses. The expense example, which is based on an 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, is intended to help you understand your ongoing costs (in dollars and cents) of investing in your Fund and to compare these costs with the ongoing costs of investing in other funds.
Actual Expenses – The table provides information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. To estimate the expenses that you paid on your account over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
Hypothetical Example for Comparison Purposes – The table also provides information about hypothetical account values and hypothetical expenses based on your Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
10 |
2 0 2 1 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) September 30, 2021 |
iShares® Biotechnology ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
||||||||
Biotechnology — 76.8% | ||||||||
AC Immune SA(a)(b) |
264,593 | $ | 1,775,419 | |||||
ACADIA Pharmaceuticals Inc.(a)(b) |
1,312,263 | 21,796,688 | ||||||
Acceleron Pharma Inc.(a)(b) |
437,164 | 75,235,924 | ||||||
Achillion Pharmaceuticals Inc.(b)(c) |
4,112 | 1,892 | ||||||
Adaptimmune Therapeutics PLC, ADR(a)(b) |
788,556 | 4,076,835 | ||||||
ADC Therapeutics SA(a)(b) |
313,641 | 8,518,490 | ||||||
Adverum Biotechnologies Inc.(a)(b) |
735,656 | 1,596,374 | ||||||
Aeglea BioTherapeutics Inc.(a) |
331,968 | 2,639,146 | ||||||
Affimed NV(a) |
912,856 | 5,641,450 | ||||||
Agios Pharmaceuticals Inc.(a)(b) |
477,112 | 22,018,719 | ||||||
Akebia Therapeutics Inc.(a)(b) |
1,364,348 | 3,929,322 | ||||||
Akero Therapeutics Inc.(a)(b) |
178,922 | 3,998,907 | ||||||
Alector Inc.(a)(b) |
462,518 | 10,554,661 | ||||||
Alkermes PLC(a) |
1,309,235 | 40,376,807 | ||||||
Allakos Inc.(a)(b) |
279,682 | 29,609,933 | ||||||
Allogene Therapeutics Inc.(a)(b) |
585,791 | 15,054,829 | ||||||
Alnylam Pharmaceuticals Inc.(a)(b) |
965,504 | 182,296,810 | ||||||
Altimmune Inc.(a)(b) |
278,701 | 3,152,108 | ||||||
ALX Oncology Holdings Inc.(a)(b) |
161,229 | 11,908,374 | ||||||
Amgen Inc. |
3,985,778 | 847,575,692 | ||||||
Amicus Therapeutics Inc.(a)(b) |
2,143,255 | 20,468,085 | ||||||
AnaptysBio Inc.(a)(b) |
208,853 | 5,664,093 | ||||||
Annexon Inc.(a) |
218,828 | 4,072,389 | ||||||
Apellis Pharmaceuticals Inc.(a) |
556,048 | 18,327,342 | ||||||
Applied Molecular Transport Inc.(a)(b) |
203,387 | 5,261,622 | ||||||
Applied Therapeutics Inc.(a) |
125,355 | 2,080,893 | ||||||
Aprea Therapeutics Inc.(a)(b) |
114,610 | 585,657 | ||||||
Arbutus Biopharma Corp.(a) |
661,015 | 2,835,754 | ||||||
Arcturus Therapeutics Holdings Inc.(a)(b) |
176,983 | 8,456,248 | ||||||
Arcus Biosciences Inc.(a)(b) |
349,797 | 12,197,421 | ||||||
Arcutis Biotherapeutics Inc.(a)(b) |
224,793 | 5,370,305 | ||||||
Ardelyx Inc.(a)(b) |
603,896 | 797,143 | ||||||
Arena Pharmaceuticals Inc.(a)(b) |
499,153 | 29,724,561 | ||||||
Argenx SE, ADR(a)(b) |
292,974 | 88,478,148 | ||||||
Arrowhead Pharmaceuticals Inc.(a) |
794,116 | 49,576,662 | ||||||
Ascendis Pharma A/S, ADR(a)(b) |
295,624 | 47,119,509 | ||||||
Assembly Biosciences Inc.(a) |
348,769 | 1,213,716 | ||||||
Atara Biotherapeutics Inc.(a)(b) |
669,898 | 11,991,174 | ||||||
Athenex Inc.(a)(b) |
703,486 | 2,117,493 | ||||||
Atreca Inc., Class A(a)(b) |
235,376 | 1,466,392 | ||||||
Avidity Biosciences Inc.(a)(b) |
327,614 | 8,069,133 | ||||||
Avrobio Inc.(a) |
305,482 | 1,704,590 | ||||||
Beam Therapeutics Inc.(a)(b) |
398,017 | 34,631,459 | ||||||
BeiGene Ltd., ADR(a)(b) |
423,728 | 153,813,264 | ||||||
BioCryst Pharmaceuticals Inc.(a)(b) |
1,452,872 | 20,877,771 | ||||||
Biogen Inc.(a) |
1,219,172 | 345,013,484 | ||||||
Biohaven Pharmaceutical Holding Co. Ltd.(a) |
470,782 | 65,396,328 | ||||||
BioMarin Pharmaceutical Inc.(a)(b) |
1,492,592 | 115,362,436 | ||||||
BioNTech SE, ADR(a)(b) |
1,380,158 | 376,769,332 | ||||||
Black Diamond Therapeutics Inc.(a)(b) |
204,474 | 1,729,850 | ||||||
Bluebird Bio Inc.(a)(b) |
540,744 | 10,333,618 | ||||||
Blueprint Medicines Corp.(a)(b) |
474,044 | 48,736,464 | ||||||
Bridgebio Pharma Inc.(a)(b) |
866,283 | 40,602,684 | ||||||
Cabaletta Bio Inc.(a) |
123,103 | 1,496,932 | ||||||
Calithera Biosciences Inc.(a)(b) |
578,176 | 1,260,424 | ||||||
CareDx Inc.(a)(b) |
423,403 | 26,831,048 | ||||||
Cellectis SA, ADR(a)(b) |
259,016 | 3,266,192 | ||||||
CEL-SCI Corp.(a)(b) |
339,308 | 3,728,995 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
ChemoCentryx Inc.(a)(b) |
437,565 | $ | 7,482,361 | |||||
Chinook Therapeutics Inc.(a)(b) |
220,930 | 2,819,067 | ||||||
Clovis Oncology Inc.(a)(b) |
934,482 | 4,167,790 | ||||||
Cogent Biosciences Inc.(a)(b) |
274,430 | 2,307,956 | ||||||
Coherus Biosciences Inc.(a)(b) |
583,530 | 9,377,327 | ||||||
Concert Pharmaceuticals Inc.(a) |
256,812 | 839,775 | ||||||
Cortexyme Inc.(a)(b) |
121,814 | 11,165,471 | ||||||
Crinetics Pharmaceuticals Inc.(a) |
229,852 | 4,838,385 | ||||||
CRISPR Therapeutics AG(a)(b) |
547,245 | 61,253,133 | ||||||
Cytokinetics Inc.(a)(b) |
646,981 | 23,123,101 | ||||||
CytomX Therapeutics Inc.(a) |
515,513 | 2,623,961 | ||||||
Deciphera Pharmaceuticals Inc.(a) |
295,165 | 10,029,707 | ||||||
Denali Therapeutics Inc.(a)(b) |
674,632 | 34,035,184 | ||||||
Dicerna Pharmaceuticals Inc.(a)(b) |
559,151 | 11,272,484 | ||||||
Eagle Pharmaceuticals Inc./DE(a)(b) |
93,037 | 5,189,604 | ||||||
Editas Medicine Inc.(a)(b) |
559,183 | 22,971,238 | ||||||
Eiger BioPharmaceuticals Inc.(a) |
251,907 | 1,682,739 | ||||||
Emergent BioSolutions Inc.(a)(b) |
397,043 | 19,879,943 | ||||||
Enanta Pharmaceuticals Inc.(a)(b) |
146,695 | 8,333,743 | ||||||
Epizyme Inc.(a)(b) |
746,644 | 3,822,817 | ||||||
Exelixis Inc.(a) |
2,520,816 | 53,290,050 | ||||||
Fate Therapeutics Inc.(a)(b) |
732,142 | 43,394,056 | ||||||
FibroGen Inc.(a)(b) |
694,107 | 7,093,774 | ||||||
Flexion Therapeutics Inc.(a)(b) |
342,713 | 2,090,549 | ||||||
Forma Therapeutics Holdings Inc.(a)(b) |
311,807 | 7,230,804 | ||||||
Frequency Therapeutics Inc.(a)(b) |
256,834 | 1,813,248 | ||||||
G1 Therapeutics Inc.(a)(b) |
277,217 | 3,720,252 | ||||||
Galapagos NV, ADR(a)(b) |
375,548 | 19,757,580 | ||||||
Gamida Cell Ltd.(a)(b) |
334,765 | 1,312,279 | ||||||
Generation Bio Co.(a)(b) |
368,195 | 9,230,649 | ||||||
Genmab A/S, ADR(a)(b) |
3,778,210 | 165,107,777 | ||||||
Geron Corp.(a)(b) |
2,540,493 | 3,480,475 | ||||||
Gilead Sciences Inc. |
10,280,345 | 718,082,098 | ||||||
Global Blood Therapeutics Inc.(a)(b) |
498,615 | 12,704,710 | ||||||
Gossamer Bio Inc.(a)(b) |
449,599 | 5,651,459 | ||||||
Grifols SA, ADR |
1,503,464 | 21,965,609 | ||||||
Halozyme Therapeutics Inc.(a)(b) |
1,147,482 | 46,679,568 | ||||||
Harpoon Therapeutics Inc.(a) |
164,927 | 1,302,923 | ||||||
Homology Medicines Inc.(a)(b) |
327,914 | 2,580,683 | ||||||
Ideaya Biosciences Inc.(a) |
255,589 | 6,514,964 | ||||||
IGM Biosciences Inc.(a)(b) |
118,166 | 7,770,596 | ||||||
I-Mab, ADR(a) |
442,147 | 32,051,236 | ||||||
Immunic Inc.(a) |
145,726 | 1,289,675 | ||||||
ImmunityBio Inc.(a)(b) |
558,895 | 5,443,637 | ||||||
ImmunoGen Inc.(a)(b) |
1,544,550 | 8,757,598 | ||||||
Immunovant Inc.(a)(b) |
332,079 | 2,885,767 | ||||||
Incyte Corp.(a) |
1,796,080 | 123,534,382 | ||||||
Inovio Pharmaceuticals Inc.(a)(b) |
1,697,987 | 12,157,587 | ||||||
Inozyme Pharma Inc.(a)(b) |
84,511 | 979,482 | ||||||
Insmed Inc.(a)(b) |
913,885 | 25,168,393 | ||||||
Intellia Therapeutics Inc.(a)(b) |
543,167 | 72,865,853 | ||||||
Intercept Pharmaceuticals Inc.(a)(b) |
223,628 | 3,320,876 | ||||||
Invitae Corp.(a)(b) |
1,755,524 | 49,909,547 | ||||||
Ionis Pharmaceuticals Inc.(a)(b) |
1,145,321 | 38,414,066 | ||||||
Iovance Biotherapeutics Inc.(a)(b) |
1,109,745 | 27,366,312 | ||||||
Ironwood Pharmaceuticals Inc.(a)(b) |
1,303,937 | 17,029,417 | ||||||
iTeos Therapeutics Inc.(a)(b) |
245,499 | 6,628,473 | ||||||
IVERIC bio Inc.(a) |
810,257 | 13,158,574 | ||||||
Jounce Therapeutics Inc.(a) |
251,267 | 1,866,914 | ||||||
Kadmon Holdings Inc.(a)(b) |
1,364,537 | 11,885,117 |
S C H E D U L E O F I N V E S T M E N T S |
11 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Biotechnology ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
KalVista Pharmaceuticals Inc.(a) |
183,268 | $ | 3,198,027 | |||||
Karuna Therapeutics Inc.(a)(b) |
173,746 | 21,254,348 | ||||||
Karyopharm Therapeutics Inc.(a)(b) |
528,055 | 3,073,280 | ||||||
Keros Therapeutics Inc.(a)(b) |
107,791 | 4,264,212 | ||||||
Kezar Life Sciences Inc.(a) |
323,578 | 2,795,714 | ||||||
Kiniksa Pharmaceuticals Ltd., Class A(a)(b) |
250,209 | 2,849,881 | ||||||
Kodiak Sciences Inc.(a)(b) |
376,399 | 36,126,776 | ||||||
Krystal Biotech Inc.(a)(b) |
131,886 | 6,885,768 | ||||||
Kura Oncology Inc.(a)(b) |
500,929 | 9,382,400 | ||||||
Larimar Therapeutics Inc.(a)(b) |
133,168 | 1,535,427 | ||||||
Legend Biotech Corp., ADR(a)(b) |
813,071 | 41,108,870 | ||||||
Ligand Pharmaceuticals Inc.(a)(b) |
130,188 | 18,137,792 | ||||||
MacroGenics Inc.(a)(b) |
485,437 | 10,165,051 | ||||||
Madrigal Pharmaceuticals Inc.(a) |
91,297 | 7,284,588 | ||||||
Magenta Therapeutics Inc.(a) |
332,665 | 2,421,801 | ||||||
MannKind Corp.(a)(b) |
1,926,934 | 8,382,163 | ||||||
MediciNova Inc.(a)(b) |
387,063 | 1,466,969 | ||||||
MeiraGTx Holdings PLC(a) |
260,179 | 3,429,159 | ||||||
Mersana Therapeutics Inc.(a)(b) |
518,530 | 4,889,738 | ||||||
Mesoblast Ltd., SP ADR(a)(b) |
746,277 | 4,485,125 | ||||||
Mirati Therapeutics Inc.(a)(b) |
390,248 | 69,038,774 | ||||||
Moderna Inc.(a)(b) |
2,386,346 | 918,409,122 | ||||||
MorphoSys AG, ADR(a)(b) |
787,820 | 9,264,763 | ||||||
Myovant Sciences Ltd.(a)(b) |
330,853 | 7,424,341 | ||||||
Myriad Genetics Inc.(a)(b) |
622,070 | 20,086,640 | ||||||
Natera Inc.(a) |
692,247 | 77,144,006 | ||||||
Neoleukin Therapeutics Inc.(a) |
266,282 | 1,925,219 | ||||||
Neurocrine Biosciences Inc.(a) |
754,179 | 72,333,308 | ||||||
NextCure Inc.(a)(b) |
127,226 | 857,503 | ||||||
Nkarta Inc.(a)(b) |
142,851 | 3,972,686 | ||||||
Novavax Inc.(a)(b) |
604,486 | 125,315,993 | ||||||
NuCana PLC, ADR(a)(b) |
237,259 | 612,128 | ||||||
Nurix Therapeutics Inc.(a) |
276,804 | 8,293,048 | ||||||
OPKO Health Inc.(a)(b) |
3,359,686 | 12,262,854 | ||||||
Orchard Therapeutics PLC, ADR(a)(b) |
625,523 | 1,438,703 | ||||||
ORIC Pharmaceuticals Inc.(a)(b) |
244,700 | 5,116,677 | ||||||
Ovid therapeutics Inc.(a)(b) |
384,030 | 1,290,341 | ||||||
Passage Bio Inc.(a) |
202,782 | 2,019,709 | ||||||
Poseida Therapeutics Inc.(a)(b) |
279,180 | 2,035,222 | ||||||
Precigen Inc.(a)(b) |
811,701 | 4,050,388 | ||||||
Precision BioSciences Inc.(a)(b) |
398,237 | 4,595,655 | ||||||
Protagonist Therapeutics Inc.(a) |
344,434 | 6,103,370 | ||||||
Prothena Corp. PLC(a) |
369,601 | 26,326,679 | ||||||
PTC Therapeutics Inc.(a)(b) |
560,388 | 20,852,037 | ||||||
Puma Biotechnology Inc.(a) |
277,462 | 1,945,009 | ||||||
Radius Health Inc.(a)(b) |
385,763 | 4,787,319 | ||||||
RAPT Therapeutics Inc.(a) |
179,595 | 5,576,425 | ||||||
Regeneron Pharmaceuticals Inc.(a)(b) |
838,769 | 507,606,223 | ||||||
REGENXBIO Inc.(a)(b) |
297,610 | 12,475,811 | ||||||
Relay Therapeutics Inc.(a)(b) |
459,523 | 14,488,760 | ||||||
Repare Therapeutics Inc.(a) |
164,167 | 4,307,742 | ||||||
Replimune Group Inc.(a)(b) |
240,683 | 7,133,844 | ||||||
REVOLUTION Medicines Inc.(a)(b) |
469,549 | 12,917,293 | ||||||
Rhythm Pharmaceuticals Inc.(a)(b) |
351,675 | 4,592,875 | ||||||
Rigel Pharmaceuticals Inc.(a)(b) |
1,400,379 | 5,083,376 | ||||||
Rocket Pharmaceuticals Inc.(a)(b) |
500,067 | 14,947,003 | ||||||
Rubius Therapeutics Inc.(a)(b) |
369,745 | 6,611,041 | ||||||
Sage Therapeutics Inc.(a)(b) |
423,048 | 18,745,257 | ||||||
Sangamo Therapeutics Inc.(a)(b) |
985,961 | 8,883,509 | ||||||
Sarepta Therapeutics Inc.(a)(b) |
621,206 | 57,449,131 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Scholar Rock Holding Corp.(a)(b) |
225,543 | $ | 7,447,430 | |||||
Seagen Inc.(a)(b) |
1,477,511 | 250,881,368 | ||||||
Selecta Biosciences Inc.(a)(b) |
669,652 | 2,785,752 | ||||||
Seres Therapeutics Inc.(a)(b) |
555,552 | 3,866,642 | ||||||
Spectrum Pharmaceuticals Inc.(a)(b) |
1,308,495 | 2,852,519 | ||||||
Spero Therapeutics Inc.(a)(b) |
202,371 | 3,725,650 | ||||||
SpringWorks Therapeutics Inc.(a) |
258,534 | 16,401,397 | ||||||
Stoke Therapeutics Inc.(a) |
162,465 | 4,133,110 | ||||||
Surface Oncology Inc.(a)(b) |
314,449 | 2,380,379 | ||||||
Sutro Biopharma Inc.(a)(b) |
296,886 | 5,608,177 | ||||||
Syndax Pharmaceuticals Inc.(a)(b) |
353,722 | 6,759,627 | ||||||
Syros Pharmaceuticals Inc.(a)(b) |
321,717 | 1,438,075 | ||||||
TCR2 Therapeutics Inc.(a) |
261,036 | 2,221,416 | ||||||
Tiziana Life Sciences PLC., ADR (a)(b) |
550,731 | 804,067 | ||||||
Travere Therapeutics Inc.(a)(b) |
492,070 | 11,932,697 | ||||||
Turning Point Therapeutics Inc.(a) |
353,340 | 23,472,376 | ||||||
Twist Bioscience Corp.(a)(b) |
363,146 | 38,845,728 | ||||||
Ultragenyx Pharmaceutical Inc.(a)(b) |
516,987 | 46,627,058 | ||||||
uniQure NV(a)(b) |
287,266 | 9,195,385 | ||||||
United Therapeutics Corp.(a)(b) |
360,234 | 66,491,992 | ||||||
UNITY Biotechnology Inc.(a)(b) |
299,330 | 897,990 | ||||||
UroGen Pharma Ltd.(a)(b) |
152,559 | 2,566,042 | ||||||
Vanda Pharmaceuticals Inc.(a) |
439,686 | 7,536,218 | ||||||
Veracyte Inc.(a)(b) |
574,866 | 26,702,526 | ||||||
Verastem Inc.(a)(b) |
1,461,455 | 4,501,281 | ||||||
Vertex Pharmaceuticals Inc.(a)(b) |
2,115,245 | 383,684,291 | ||||||
Vir Biotechnology Inc.(a)(b) |
558,128 | 24,289,731 | ||||||
Voyager Therapeutics Inc.(a)(b) |
199,616 | 524,990 | ||||||
XBiotech Inc. |
150,550 | 1,949,622 | ||||||
Xencor Inc.(a) |
475,248 | 15,521,600 | ||||||
Xenon Pharmaceuticals Inc.(a)(b) |
309,942 | 4,735,914 | ||||||
Y-mAbs Therapeutics Inc.(a)(b) |
282,397 | 8,059,610 | ||||||
Zai Lab Ltd., ADR(a) |
542,922 | 57,218,550 | ||||||
Zentalis Pharmaceuticals Inc.(a) |
328,208 | 21,871,781 | ||||||
ZIOPHARM Oncology Inc.(a)(b) |
1,593,170 | 2,899,569 | ||||||
Zymeworks Inc.(a)(b) |
375,313 | 10,899,090 | ||||||
|
|
|||||||
8,075,076,309 | ||||||||
Chemicals — 0.2% | ||||||||
Amyris Inc.(a)(b) |
1,421,590 | 19,518,431 | ||||||
|
|
|||||||
Health Care Equipment & Supplies — 0.9% | ||||||||
Cerus Corp.(a)(b) |
1,368,389 | 8,333,489 | ||||||
Meridian Bioscience Inc.(a)(b) |
351,368 | 6,760,320 | ||||||
Novocure Ltd.(a)(b) |
730,543 | 84,867,180 | ||||||
|
|
|||||||
99,960,989 | ||||||||
Health Care Providers & Services — 1.2% | ||||||||
Castle Biosciences Inc.(a)(b) |
181,053 | 12,040,025 | ||||||
Fulgent Genetics Inc.(a)(b) |
156,731 | 14,097,953 | ||||||
Guardant Health Inc.(a)(b) |
779,193 | 97,406,917 | ||||||
|
|
|||||||
123,544,895 | ||||||||
Life Sciences Tools & Services — 19.0% | ||||||||
10X Genomics Inc., Class A(a)(b) |
665,156 | 96,833,410 | ||||||
Adaptive Biotechnologies Corp.(a)(b) |
1,138,444 | 38,695,712 | ||||||
Berkeley Lights Inc.(a)(b) |
401,908 | 7,861,320 | ||||||
Bio-Techne Corp. |
316,587 | 153,408,563 | ||||||
Bruker Corp. |
832,382 | 65,009,034 | ||||||
Charles
River Laboratories International |
407,106 | 168,000,433 | ||||||
Codexis Inc.(a)(b) |
513,087 | 11,934,404 | ||||||
Compugen Ltd.(a)(b) |
693,878 | 4,142,452 |
12 |
2 0 2 1 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) September 30, 2021 |
iShares® Biotechnology ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Life Sciences Tools & Services (continued) | ||||||||
Fluidigm Corp.(a)(b) |
576,750 | $ | 3,800,782 | |||||
Illumina Inc.(a) |
983,147 | 398,774,255 | ||||||
IQVIA Holdings Inc.(a) |
1,556,237 | 372,781,011 | ||||||
Medpace Holdings Inc.(a)(b) |
237,842 | 45,018,734 | ||||||
Mettler-Toledo International Inc.(a)(b) |
186,854 | 257,365,225 | ||||||
NanoString Technologies Inc.(a)(b) |
364,364 | 17,493,116 | ||||||
Pacific Biosciences of California Inc.(a)(b) |
1,560,373 | 39,867,530 | ||||||
Personalis Inc.(a) |
289,015 | 5,560,649 | ||||||
Quanterix Corp.(a) |
264,481 | 13,168,509 | ||||||
Repligen Corp.(a) |
418,558 | 120,959,076 | ||||||
Waters Corp.(a)(b) |
500,690 | 178,896,537 | ||||||
|
|
|||||||
1,999,570,752 | ||||||||
Pharmaceuticals — 1.8% | ||||||||
Arvinas Inc.(a) |
323,784 | 26,608,569 | ||||||
Axsome Therapeutics Inc.(a)(b) |
243,017 | 8,009,840 | ||||||
Cara Therapeutics Inc.(a)(b) |
329,713 | 5,094,066 | ||||||
Cymabay Therapeutics Inc.(a)(b) |
521,026 | 1,901,745 | ||||||
Esperion Therapeutics Inc.(a)(b) |
225,658 | 2,719,179 | ||||||
Fulcrum Therapeutics Inc.(a) |
235,331 | 6,638,688 | ||||||
Intra-Cellular Therapies Inc.(a)(b) |
595,697 | 22,207,584 | ||||||
Kala Pharmaceuticals Inc.(a)(b) |
426,542 | 1,117,540 | ||||||
Kaleido Biosciences Inc.(a)(b) |
162,458 | 887,021 | ||||||
Marinus Pharmaceuticals Inc.(a)(b) |
264,570 | 3,010,807 | ||||||
Nektar Therapeutics(a)(b) |
1,490,696 | 26,772,900 | ||||||
NGM Biopharmaceuticals Inc.(a) |
207,563 | 4,362,974 | ||||||
Odonate Therapeutics Inc.(a)(b) |
308,232 | 896,955 | ||||||
Omeros Corp.(a)(b) |
491,739 | 6,781,081 | ||||||
Pliant Therapeutics Inc.(a)(b) |
203,932 | 3,442,372 | ||||||
Provention Bio Inc.(a)(b) |
414,226 | 2,651,046 | ||||||
Reata Pharmaceuticals Inc., Class A(a)(b) |
243,844 | 24,533,145 | ||||||
Redhill Biopharma Ltd., ADR(a)(b) |
263,468 | 1,206,684 | ||||||
Relmada Therapeutics Inc.(a) |
128,344 | 3,363,896 | ||||||
Restorbio Inc. |
50,900 | 55,896 | ||||||
Revance Therapeutics Inc.(a)(b) |
562,849 | 15,680,973 | ||||||
SIGA Technologies Inc.(a)(b) |
354,982 | 2,623,317 | ||||||
Supernus Pharmaceuticals Inc.(a)(b) |
420,229 | 11,207,508 | ||||||
Theravance Biopharma Inc.(a)(b) |
446,121 | 3,301,295 | ||||||
Tricida Inc.(a)(b) |
244,095 | 1,132,601 | ||||||
Veritex Holdings Inc., ADR(a)(b) |
245,594 | 1,345,855 | ||||||
WaVe Life Sciences Ltd.(a) |
395,378 | 1,937,352 | ||||||
|
|
|||||||
189,490,889 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.9% |
|
10,507,162,265 | ||||||
|
|
Security | Shares | Value | ||||||
Short-Term Investments |
| |||||||
Money Market Funds — 8.4% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(d)(e)(f) |
865,866,449 | $ | 866,299,382 | |||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(d)(e) |
17,710,000 | 17,710,000 | ||||||
|
|
|||||||
884,009,382 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 8.4% |
|
884,009,382 | ||||||
|
|
|||||||
Total
Investments Before Investments Sold Short — 108.3% |
|
11,391,171,647 | ||||||
Investments In Securities Sold Short |
| |||||||
Common Stocks — (0.0%) | ||||||||
PDL BioPharma Inc.(a)(c) |
(4,374 | ) | (9,183 | ) | ||||
|
|
|||||||
Total
Investments Sold Short |
|
(9,183 | ) | |||||
|
|
|||||||
Total
Investments, Net of Investments Sold Short — 108.3% |
|
11,391,162,464 | ||||||
Other Assets, Less Liabilities — (8.3)% |
|
(876,493,709 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
$ | 10,514,668,755 | ||||||
|
|
(a) |
Non-income producing security. |
(b) |
All or a portion of this security is on loan. |
(c) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(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 |
13 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Biotechnology ETF |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at 09/30/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 1,133,003,134 | $ | — | $ | (266,606,257 | )(a) | $ | 76,897 | $ | (174,392 | ) | $ | 866,299,382 | 865,866,449 | $ | 1,351,160 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
24,820,000 | — | (7,110,000 | )(a) | — | — | 17,710,000 | 17,710,000 | 594 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 76,897 | $ | (174,392 | ) | $ | 884,009,382 | $ | 1,351,754 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 Health Care Sector Index |
34 | 12/17/21 | $ | 4,364 | $ | (167,686 | ) | |||||||||
Russell 2000 E-Mini Index |
18 | 12/17/21 | 1,981 | (36,140 | ) | |||||||||||
|
|
|||||||||||||||
$ | (203,826 | ) | ||||||||||||||
|
|
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) |
$ | 203,826 | ||
|
|
(a) |
Net cumulative 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 September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Equity Contracts |
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 35,215 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | (153,756 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 6,721,103 |
For more information about the Fund’s investment risks regarding derivative financial instruments, refer to the Notes to Financial Statements.
14 | 2 0 2 1 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) September 30, 2021 |
iShares® Biotechnology ETF |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to Financial Statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 10,507,104,477 | $ | 55,896 | $ | 1,892 | $ | 10,507,162,265 | ||||||||
Money Market Funds |
884,009,382 | — | — | 884,009,382 | ||||||||||||
Liabilities |
||||||||||||||||
Common Stocks |
— | — | (9,183 | ) | (9,183 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 11,391,113,859 | $ | 55,896 | $ | (7,291 | ) | $ | 11,391,162,464 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (203,826 | ) | $ | — | $ | — | $ | (203,826 | ) | ||||||
|
|
|
|
|
|
|
|
(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 |
15 |
Schedule of Investments (unaudited) September 30, 2021 |
iShares® Expanded Tech Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Communications Equipment — 2.5% | ||||||||
Arista Networks Inc.(a) |
14,502 | $ | 4,983,467 | |||||
Calix Inc.(a) |
13,905 | 687,324 | ||||||
Cambium Networks Corp.(a) |
2,883 | 104,336 | ||||||
Ciena Corp.(a) |
39,795 | 2,043,473 | ||||||
Cisco Systems Inc. |
1,090,081 | 59,333,109 | ||||||
CommScope Holding Co. Inc.(a) |
53,934 | 732,963 | ||||||
Extreme Networks Inc.(a) |
32,782 | 322,903 | ||||||
F5 Networks Inc.(a) |
15,502 | 3,081,488 | ||||||
Harmonic Inc.(a) |
27,605 | 241,544 | ||||||
Infinera Corp.(a)(b) |
51,807 | 431,034 | ||||||
Inseego Corp.(a)(b) |
15,995 | 106,527 | ||||||
Juniper Networks Inc. |
83,512 | 2,298,250 | ||||||
Lumentum Holdings Inc.(a) |
19,844 | 1,657,768 | ||||||
Motorola Solutions Inc. |
43,845 | 10,186,070 | ||||||
NETGEAR Inc.(a) |
8,132 | 259,492 | ||||||
NetScout Systems Inc.(a) |
18,811 | 506,957 | ||||||
Plantronics Inc.(a) |
9,708 | 249,593 | ||||||
Ribbon Communications Inc.(a) |
32,507 | 194,392 | ||||||
Ubiquiti Inc. |
1,626 | 485,637 | ||||||
Viasat Inc.(a)(b) |
18,986 | 1,045,559 | ||||||
Viavi Solutions Inc.(a) |
60,033 | 944,919 | ||||||
|
|
|||||||
89,896,805 | ||||||||
Diversified Telecommunication Services — 0.0% | ||||||||
EchoStar Corp., Class A(a)(b) |
11,220 | 286,222 | ||||||
|
|
|||||||
Electronic Equipment, Instruments & Components — 2.5% | ||||||||
Advanced Energy Industries Inc. |
10,031 | 880,220 | ||||||
Amphenol Corp., Class A |
154,894 | 11,342,888 | ||||||
Arrow Electronics Inc.(a) |
18,596 | 2,088,145 | ||||||
Avnet Inc. |
25,910 | 957,893 | ||||||
Badger Meter Inc. |
7,635 | 772,204 | ||||||
Belden Inc. |
11,519 | 671,097 | ||||||
Benchmark Electronics Inc. |
9,637 | 257,404 | ||||||
CDW Corp./DE |
35,603 | 6,480,458 | ||||||
Celestica Inc.(a)(b) |
28,626 | 254,199 | ||||||
Cognex Corp. |
45,495 | 3,649,609 | ||||||
Coherent Inc.(a) |
6,350 | 1,588,071 | ||||||
Corning Inc. |
199,028 | 7,262,532 | ||||||
Fabrinet(a) |
9,584 | 982,456 | ||||||
II-VI Inc.(a)(b) |
27,190 | 1,613,998 | ||||||
Insight Enterprises Inc.(a)(b) |
9,204 | 829,096 | ||||||
IPG Photonics Corp.(a) |
9,151 | 1,449,518 | ||||||
Itron Inc.(a) |
11,819 | 893,871 | ||||||
Jabil Inc. |
37,761 | 2,204,110 | ||||||
Keysight Technologies Inc.(a) |
47,703 | 7,837,126 | ||||||
Knowles Corp.(a) |
24,404 | 457,331 | ||||||
Littelfuse Inc. |
6,385 | 1,744,829 | ||||||
Methode Electronics Inc. |
9,649 | 405,740 | ||||||
MicroVision Inc.(a)(b) |
41,079 | 453,923 | ||||||
National Instruments Corp. |
34,407 | 1,349,787 | ||||||
Novanta Inc.(a)(b) |
9,221 | 1,424,644 | ||||||
OSI Systems Inc.(a) |
4,327 | 410,200 | ||||||
PAR Technology Corp.(a)(b) |
6,215 | 382,285 | ||||||
Plexus Corp.(a) |
7,137 | 638,119 | ||||||
Rogers Corp.(a) |
4,898 | 913,379 | ||||||
Sanmina Corp.(a)(b) |
17,065 | 657,685 | ||||||
SYNNEX Corp. |
10,808 | 1,125,113 | ||||||
TE Connectivity Ltd. |
84,931 | 11,654,232 |
Security | Shares | Value | ||||||
Electronic Equipment, Instruments & Components (continued) | ||||||||
Trimble Inc.(a) |
64,935 | $ | 5,340,904 | |||||
TTM Technologies Inc.(a)(b) |
25,826 | 324,633 | ||||||
Velodyne Lidar Inc.(a)(b) |
25,319 | 149,888 | ||||||
Vishay Intertechnology Inc. |
34,295 | 688,986 | ||||||
Vontier Corp. |
43,970 | 1,477,392 | ||||||
Zebra Technologies Corp., Class A(a) |
13,828 | 7,127,228 | ||||||
|
|
|||||||
88,741,193 | ||||||||
Entertainment — 2.9% | ||||||||
Activision Blizzard Inc. |
201,379 | 15,584,721 | ||||||
Electronic Arts Inc. |
73,689 | 10,482,260 | ||||||
Netflix Inc.(a) |
114,486 | 69,875,385 | ||||||
Skillz Inc.(a)(b) |
65,464 | 642,857 | ||||||
Take-Two Interactive Software Inc.(a) |
30,075 | 4,633,655 | ||||||
Zynga Inc., Class A(a) |
263,324 | 1,982,830 | ||||||
|
|
|||||||
103,201,708 | ||||||||
Interactive Media & Services — 15.9% | ||||||||
Alphabet Inc., Class A(a) |
58,431 | 156,216,447 | ||||||
Alphabet Inc., Class C, NVS(a) |
54,678 | 145,733,820 | ||||||
Bumble Inc., Class A(a)(b) |
18,334 | 916,333 | ||||||
Cargurus Inc.(a) |
22,387 | 703,176 | ||||||
Eventbrite Inc., Class A(a) |
19,475 | 368,272 | ||||||
Facebook Inc., Class A(a) |
616,617 | 209,273,644 | ||||||
fuboTV Inc.(a)(b) |
36,683 | 878,925 | ||||||
IAC/InterActiveCorp.(a) |
21,688 | 2,825,729 | ||||||
Match Group Inc.(a) |
71,677 | 11,252,572 | ||||||
MediaAlpha Inc., Class A(a) |
5,722 | 106,887 | ||||||
Pinterest Inc., Class A(a) |
143,757 | 7,324,419 | ||||||
Snap Inc., Class A, NVS(a) |
270,738 | 19,999,416 | ||||||
TripAdvisor Inc.(a) |
25,214 | 853,494 | ||||||
Twitter Inc.(a) |
206,625 | 12,478,084 | ||||||
Vimeo Inc.(a)(b) |
40,269 | 1,182,701 | ||||||
Yelp Inc.(a) |
18,240 | 679,258 | ||||||
Zillow Group Inc., Class A(a) |
9,524 | 843,636 | ||||||
Zillow Group Inc., Class C, NVS(a)(b) |
43,825 | 3,862,735 | ||||||
ZoomInfo Technologies Inc., Class A(a) |
46,773 | 2,862,040 | ||||||
|
|
|||||||
578,361,588 | ||||||||
Internet & Direct Marketing Retail — 9.3% | ||||||||
Amazon.com Inc.(a) |
93,628 | 307,571,725 | ||||||
Chewy Inc., Class A(a)(b) |
22,400 | 1,525,664 | ||||||
eBay Inc. |
168,312 | 11,726,297 | ||||||
Etsy Inc.(a) |
32,776 | 6,816,097 | ||||||
Groupon Inc.(a)(b) |
5,971 | 136,199 | ||||||
Overstock.com Inc.(a)(b) |
11,144 | 868,341 | ||||||
Porch Group Inc.(a) |
19,511 | 344,954 | ||||||
Qurate Retail Inc., Series A |
94,885 | 966,878 | ||||||
RealReal Inc. (The)(a) |
20,865 | 275,001 | ||||||
Revolve Group Inc.(a) |
9,303 | 574,646 | ||||||
Shutterstock Inc. |
5,935 | 672,554 | ||||||
Stamps.com Inc.(a) |
4,805 | 1,584,641 | ||||||
Stitch Fix Inc., Class A(a) |
18,595 | 742,870 | ||||||
Wayfair Inc., Class A(a)(b) |
20,025 | 5,116,588 | ||||||
|
|
|||||||
338,922,455 | ||||||||
IT Services — 17.1% | ||||||||
Accenture PLC, Class A |
164,031 | 52,476,798 | ||||||
Affirm Holdings Inc.(a) |
24,075 | 2,868,055 | ||||||
Akamai Technologies Inc.(a)(b) |
42,163 | 4,409,828 | ||||||
Alliance Data Systems Corp. |
12,928 | 1,304,306 | ||||||
Automatic Data Processing Inc. |
109,362 | 21,863,651 | ||||||
Broadridge Financial Solutions Inc. |
29,971 | 4,994,367 |
16 |
2 0 2 1 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) September 30, 2021 |
iShares® Expanded Tech Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
CGI Inc.(a)(b) |
56,708 | $ | 4,806,570 | |||||
Cloudflare Inc., Class A(a) |
68,214 | 7,684,307 | ||||||
Cognizant Technology Solutions Corp., Class A |
136,097 | 10,099,758 | ||||||
Concentrix Corp.(a) |
11,088 | 1,962,576 | ||||||
Conduent Inc.(a) |
38,940 | 256,615 | ||||||
CSG Systems International Inc |
8,633 | 416,111 | ||||||
DXC Technology Co.(a) |
65,227 | 2,192,279 | ||||||
EPAM Systems Inc.(a) |
14,672 | 8,370,083 | ||||||
Euronet Worldwide Inc.(a) |
13,713 | 1,745,391 | ||||||
EVERTEC Inc. |
15,229 | 696,270 | ||||||
ExlService Holdings Inc.(a) |
8,530 | 1,050,214 | ||||||
Fastly Inc., Class A(a)(b) |
27,475 | 1,111,089 | ||||||
Fidelity National Information Services Inc. |
159,636 | 19,424,509 | ||||||
Fiserv Inc.(a)(b) |
153,977 | 16,706,505 | ||||||
FleetCor Technologies Inc.(a) |
21,390 | 5,588,565 | ||||||
Gartner Inc.(a) |
21,660 | 6,582,041 | ||||||
Genpact Ltd. |
44,489 | 2,113,672 | ||||||
Global Payments Inc. |
76,063 | 11,986,008 | ||||||
GoDaddy Inc., Class A(a) |
43,494 | 3,031,532 | ||||||
International Business Machines Corp. |
231,812 | 32,205,641 | ||||||
Jack Henry & Associates Inc. |
19,316 | 3,168,983 | ||||||
LiveRamp Holdings Inc.(a) |
17,389 | 821,282 | ||||||
Mastercard Inc., Class A |
225,341 | 78,346,559 | ||||||
Maximus Inc. |
16,097 | 1,339,270 | ||||||
MongoDB Inc.(a)(b) |
16,738 | 7,892,134 | ||||||
Okta Inc.(a) |
32,373 | 7,683,408 | ||||||
Paychex Inc. |
82,925 | 9,324,916 | ||||||
PayPal Holdings Inc.(a) |
303,944 | 79,089,268 | ||||||
Perficient Inc.(a)(b) |
8,602 | 995,251 | ||||||
Repay Holdings Corp.(a)(b) |
19,463 | 448,233 | ||||||
Sabre Corp.(a) |
83,724 | 991,292 | ||||||
Shift4 Payments Inc., Class A(a)(b) |
12,230 | 948,070 | ||||||
Shopify Inc., Class A(a)(b) |
29,198 | 39,586,064 | ||||||
Snowflake Inc., Class A(a)(b) |
58,923 | 17,820,083 | ||||||
SolarWinds Corp. |
9,348 | 156,392 | ||||||
Square Inc., Class A(a) |
102,757 | 24,645,239 | ||||||
Switch Inc., Class A |
32,708 | 830,456 | ||||||
TTEC Holdings Inc. |
4,777 | 446,793 | ||||||
Twilio Inc., Class A(a) |
43,225 | 13,790,936 | ||||||
Unisys Corp.(a) |
17,432 | 438,240 | ||||||
VeriSign Inc.(a) |
25,203 | 5,166,867 | ||||||
Verra Mobility Corp.(a)(b) |
35,315 | 532,197 | ||||||
Visa Inc., Class A |
436,540 | 97,239,285 | ||||||
Western Union Co. (The) |
104,389 | 2,110,746 | ||||||
WEX Inc.(a) |
11,636 | 2,049,565 | ||||||
|
|
|||||||
621,808,270 | ||||||||
Semiconductors & Semiconductor Equipment — 16.0% | ||||||||
Advanced Micro Devices Inc.(a) |
313,724 | 32,282,200 | ||||||
Allegro MicroSystems Inc.(a) |
14,241 | 455,142 | ||||||
Ambarella Inc.(a) |
9,432 | 1,468,940 | ||||||
Amkor Technology Inc. |
25,298 | 631,185 | ||||||
Analog Devices Inc. |
139,066 | 23,290,774 | ||||||
Applied Materials Inc. |
236,392 | 30,430,742 | ||||||
Broadcom Inc. |
106,122 | 51,461,742 | ||||||
Brooks Automation Inc. |
19,354 | 1,980,882 | ||||||
Cirrus Logic Inc.(a) |
14,756 | 1,215,157 | ||||||
CMC Materials Inc. |
7,624 | 939,506 | ||||||
Cohu Inc.(a) |
12,593 | 402,220 | ||||||
Diodes Inc.(a) |
11,643 | 1,054,739 | ||||||
Enphase Energy Inc.(a) |
34,859 | 5,227,804 |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
Entegris Inc. |
34,960 | $ | 4,401,464 | |||||
First Solar Inc.(a) |
25,603 | 2,444,062 | ||||||
FormFactor Inc.(a) |
20,286 | 757,276 | ||||||
Ichor Holdings Ltd.(a) |
7,302 | 300,039 | ||||||
Intel Corp. |
1,049,417 | 55,912,938 | ||||||
KLA Corp. |
39,550 | 13,229,871 | ||||||
Kulicke & Soffa Industries Inc. |
16,051 | 935,452 | ||||||
Lam Research Corp. |
36,836 | 20,965,209 | ||||||
Lattice Semiconductor Corp.(a) |
35,105 | 2,269,538 | ||||||
MACOM Technology Solutions Holdings Inc.(a) |
12,215 | 792,387 | ||||||
Marvell Technology Inc. |
212,200 | 12,797,782 | ||||||
MaxLinear Inc.(a) |
17,792 | 876,256 | ||||||
Microchip Technology Inc. |
70,899 | 10,882,288 | ||||||
Micron Technology Inc. |
290,994 | 20,654,754 | ||||||
MKS Instruments Inc. |
14,224 | 2,146,544 | ||||||
Monolithic Power Systems Inc. |
11,146 | 5,402,243 | ||||||
NVIDIA Corp. |
644,601 | 133,535,543 | ||||||
NXP Semiconductors NV |
68,653 | 13,447,063 | ||||||
ON Semiconductor Corp.(a) |
111,046 | 5,082,575 | ||||||
Onto Innovation Inc.(a) |
12,802 | 924,945 | ||||||
Power Integrations Inc. |
15,691 | 1,553,252 | ||||||
Qorvo Inc.(a) |
28,779 | 4,811,561 | ||||||
QUALCOMM Inc. |
291,778 | 37,633,526 | ||||||
Rambus Inc.(a) |
28,198 | 625,996 | ||||||
Semtech Corp.(a) |
16,581 | 1,292,821 | ||||||
Silicon Laboratories Inc.(a) |
10,570 | 1,481,491 | ||||||
SiTime Corp.(a) |
3,240 | 661,511 | ||||||
Skyworks Solutions Inc. |
42,717 | 7,038,907 | ||||||
SolarEdge Technologies Inc.(a) |
13,515 | 3,584,448 | ||||||
SunPower Corp.(a) |
20,972 | 475,645 | ||||||
Synaptics Inc.(a) |
9,052 | 1,626,916 | ||||||
Teradyne Inc. |
42,718 | 4,663,524 | ||||||
Texas Instruments Inc. |
238,805 | 45,900,709 | ||||||
Ultra Clean Holdings Inc.(a) |
11,393 | 485,342 | ||||||
Universal Display Corp. |
11,264 | 1,925,693 | ||||||
Xilinx Inc. |
63,930 | 9,652,791 | ||||||
|
|
|||||||
582,013,395 | ||||||||
Software — 24.4% | ||||||||
8x8 Inc.(a)(b) |
28,753 | 672,533 | ||||||
ACI Worldwide Inc.(a) |
30,608 | 940,584 | ||||||
Adobe Inc.(a) |
123,230 | 70,945,976 | ||||||
Alarm.com Holdings Inc.(a)(b) |
12,022 | 940,000 | ||||||
Altair Engineering Inc., Class A(a)(b) |
12,209 | 841,688 | ||||||
Alteryx Inc., Class A(a)(b) |
15,225 | 1,112,947 | ||||||
Anaplan Inc.(a) |
37,603 | 2,289,647 | ||||||
ANSYS Inc.(a) |
22,564 | 7,681,914 | ||||||
Appfolio Inc., Class A(a) |
4,894 | 589,238 | ||||||
Appian Corp.(a)(b) |
10,231 | 946,470 | ||||||
Asana Inc., Class A(a) |
20,215 | 2,099,126 | ||||||
Aspen Technology Inc.(a) |
17,485 | 2,147,158 | ||||||
Autodesk Inc.(a) |
56,971 | 16,246,420 | ||||||
Avalara Inc.(a) |
22,417 | 3,917,819 | ||||||
Avaya Holdings Corp.(a) |
21,806 | 431,541 | ||||||
Bill.com Holdings Inc.(a) |
22,858 | 6,101,943 | ||||||
Black Knight Inc.(a) |
40,510 | 2,916,720 | ||||||
Blackbaud Inc.(a) |
10,885 | 765,760 | ||||||
BlackBerry Ltd.(a)(b) |
131,000 | 1,274,630 | ||||||
Blackline Inc.(a)(b) |
13,763 | 1,624,860 | ||||||
Bottomline Technologies DE Inc.(a) |
10,186 | 400,106 | ||||||
Box Inc., Class A(a) |
38,521 | 911,792 |
S C H E D U L E O F I N V E S T M E N T S |
17 |
Schedule of Investments (unaudited) (continued) September 30, 2021 |
iShares® Expanded Tech Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
BTRS Holdings Inc.(a) |
16,736 | $ | 178,071 | |||||
Cadence Design Systems Inc.(a) |
71,669 | 10,853,553 | ||||||
CDK Global Inc. |
31,185 | 1,326,922 | ||||||
Cerence Inc.(a) |
9,758 | 937,841 | ||||||
Ceridian HCM Holding Inc.(a) |
34,925 | 3,933,253 | ||||||
Citrix Systems Inc. |
32,287 | 3,466,655 | ||||||
Cloudera Inc.(a) |
58,587 | 935,634 | ||||||
CommVault Systems Inc.(a) |
11,718 | 882,483 | ||||||
Cornerstone OnDemand Inc.(a) |
15,039 | 861,133 | ||||||
Coupa Software Inc.(a) |
19,089 | 4,183,927 | ||||||
Crowdstrike Holdings Inc., Class A(a) |
51,592 | 12,680,282 | ||||||
Datadog Inc., Class A(a) |
62,077 | 8,774,584 | ||||||
Descartes
Systems Group Inc. |
22,147 | 1,799,665 | ||||||
Digital Turbine Inc.(a) |
22,644 | 1,556,775 | ||||||
DocuSign Inc.(a) |
50,450 | 12,987,343 | ||||||
Dolby Laboratories Inc., Class A |
16,832 | 1,481,216 | ||||||
Domo Inc., Class B(a) |
7,390 | 624,012 | ||||||
Dropbox Inc., Class A(a) |
74,381 | 2,173,413 | ||||||
Duck Creek Technologies Inc.(a)(b) |
19,440 | 860,026 | ||||||
Dynatrace Inc.(a) |
50,793 | 3,604,779 | ||||||
E2open Parent Holdings Inc.(a) |
44,968 | 508,138 | ||||||
Elastic NV(a) |
18,481 | 2,753,484 | ||||||
Envestnet Inc.(a) |
13,215 | 1,060,372 | ||||||
Everbridge Inc.(a) |
9,795 | 1,479,437 | ||||||
Fair Isaac Corp.(a) |
7,351 | 2,925,183 | ||||||
Five9 Inc.(a) |
17,509 | 2,796,888 | ||||||
Fortinet Inc.(a) |
35,101 | 10,250,896 | ||||||
Guidewire Software Inc.(a) |
21,532 | 2,559,509 | ||||||
HubSpot Inc.(a) |
11,563 | 7,817,629 | ||||||
InterDigital Inc. |
7,835 | 531,370 | ||||||
Intuit Inc. |
70,684 | 38,134,725 | ||||||
J2 Global Inc.(a)(b) |
12,482 | 1,705,291 | ||||||
Jamf Holding Corp.(a)(b) |
14,065 | 541,784 | ||||||
Lightspeed Commerce Inc.(a)(b) |
32,382 | 3,122,596 | ||||||
LivePerson Inc.(a)(b) |
16,900 | 996,255 | ||||||
Mandiant Inc. |
61,698 | 1,098,224 | ||||||
Manhattan Associates Inc.(a) |
16,404 | 2,510,304 | ||||||
Marathon Digital Holdings Inc.(a) |
25,760 | 813,501 | ||||||
McAfee Corp., Class A |
18,962 | 419,250 | ||||||
Medallia Inc.(a) |
30,315 | 1,026,769 | ||||||
Microsoft Corp. |
1,097,441 | 309,390,567 | ||||||
MicroStrategy Inc., Class A(a)(b) |
2,027 | 1,172,417 | ||||||
Mimecast Ltd.(a) |
15,831 | 1,006,852 | ||||||
Momentive Global Inc.(a) |
33,232 | 651,347 | ||||||
N-Able Inc.(a)(b) |
17,588 | 218,267 | ||||||
NCR Corp.(a) |
33,728 | 1,307,297 | ||||||
New Relic Inc.(a) |
15,113 | 1,084,660 | ||||||
NortonLifeLock Inc. |
150,480 | 3,807,144 | ||||||
Nuance Communications Inc.(a) |
74,057 | 4,076,097 | ||||||
Nutanix Inc., Class A(a) |
53,136 | 2,003,227 | ||||||
Open Text Corp. |
70,313 | 3,427,056 | ||||||
Oracle Corp. |
426,099 | 37,126,006 | ||||||
Pagerduty Inc.(a)(b) |
19,276 | 798,412 | ||||||
Palantir Technologies Inc., Class A(a) |
405,871 | 9,757,139 | ||||||
Palo Alto Networks Inc.(a) |
25,218 | 12,079,422 | ||||||
Paycom Software Inc.(a) |
12,447 | 6,170,600 | ||||||
Paylocity Holding Corp.(a) |
10,180 | 2,854,472 | ||||||
Pegasystems Inc. |
10,368 | 1,317,773 | ||||||
Ping Identity Holding Corp.(a) |
12,754 | 313,366 | ||||||
Progress Software Corp. |
10,995 | 540,844 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
PROS Holdings Inc.(a) |
10,248 | $ | 363,599 | |||||
PTC Inc.(a) |
27,451 | 3,288,355 | ||||||
Q2 Holdings Inc.(a) |
14,620 | 1,171,647 | ||||||
QAD Inc., Class A |
3,032 | 264,966 | ||||||
Qualtrics International Inc., Class A(a) |
16,339 | 698,329 | ||||||
Qualys Inc.(a) |
8,791 | 978,350 | ||||||
Rapid7 Inc.(a)(b) |
14,339 | 1,620,594 | ||||||
RingCentral Inc., Class A(a) |
20,997 | 4,566,847 | ||||||
Riot Blockchain Inc.(a) |
21,881 | 562,342 | ||||||
SailPoint
Technologies Holdings |
23,834 | 1,022,002 | ||||||
salesforce.com Inc.(a) |
251,304 | 68,158,671 | ||||||
ServiceNow Inc.(a) |
51,239 | 31,884,492 | ||||||
Smartsheet Inc., Class A(a) |
32,396 | 2,229,493 | ||||||
Splunk Inc.(a) |
42,369 | 6,131,218 | ||||||
Sprout Social Inc., Class A(a) |
11,672 | 1,423,400 | ||||||
SPS Commerce Inc.(a) |
9,205 | 1,484,858 | ||||||
SS&C Technologies Holdings Inc |
57,353 | 3,980,298 | ||||||
Synopsys Inc.(a) |
39,507 | 11,828,791 | ||||||
Telos Corp.(a) |
13,652 | 387,990 | ||||||
Tenable Holdings Inc.(a) |
23,457 | 1,082,306 | ||||||
Teradata Corp.(a) |
27,936 | 1,602,130 | ||||||
Trade Desk Inc. (The), Class A(a)(b) |
112,140 | 7,883,442 | ||||||
Tyler Technologies Inc.(a) |
10,593 | 4,858,479 | ||||||
Varonis Systems Inc.(a) |
27,608 | 1,679,947 | ||||||
Verint Systems Inc.(a)(b) |
17,142 | 767,790 | ||||||
VMware Inc., Class A(a) |
20,813 | 3,094,893 | ||||||
Vonage Holdings Corp.(a) |
65,215 | 1,051,266 | ||||||
Wolfspeed Inc. |
29,776 | 2,403,816 | ||||||
Workday Inc., Class A(a) |
48,940 | 12,229,617 | ||||||
Workiva Inc.(a)(b) |
11,103 | 1,565,079 | ||||||
Xperi Holding Corp. |
27,101 | 510,583 | ||||||
Yext Inc.(a)(b) |
29,420 | 353,923 | ||||||
Zendesk Inc.(a) |
30,859 | 3,591,679 | ||||||
Zoom Video Communications Inc., Class A(a) |
55,975 | 14,637,462 | ||||||
Zscaler Inc.(a) |
20,218 | 5,301,564 | ||||||
Zuora Inc., Class A(a)(b) |
27,618 | 457,906 | ||||||
|
|
|||||||
887,173,133 | ||||||||
Technology Hardware, Storage & Peripherals — 9.3% | ||||||||
3D Systems Corp.(a) |
32,100 | 884,997 | ||||||
Apple Inc. |
2,117,313 | 299,599,790 | ||||||
Corsair Gaming Inc.(a)(b) |
8,501 | 220,431 | ||||||
Dell Technologies Inc., Class C(a) |
71,878 | 7,478,187 | ||||||
Hewlett Packard Enterprise Co |
336,824 | 4,799,742 | ||||||
HP Inc. |
311,022 | 8,509,562 | ||||||
NetApp Inc. |
57,994 | 5,205,541 | ||||||
Pure Storage Inc., Class A(a) |
68,945 | 1,734,656 | ||||||
Seagate Technology Holdings PLC |
54,220 | 4,474,234 | ||||||
Super Micro Computer Inc.(a) |
11,151 | 407,792 | ||||||
Western Digital Corp.(a) |
79,033 | 4,460,623 | ||||||
Xerox Holdings Corp. |
35,587 | 717,790 | ||||||
|
|
|||||||
338,493,345 | ||||||||
|
|
|||||||
Total
Common Stocks — 99.9% |
|
3,628,898,114 | ||||||
|
|
|||||||
Short-Term Investments | ||||||||
Money Market Funds — 1.9% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(c)(d)(e) |
64,891,637 | 64,924,083 |
18 |
2 0 2 1 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) September 30, 2021 |
iShares® Expanded Tech Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Money Market Funds (continued) | ||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d) |
4,159,000 | $ | 4,159,000 | |||||
|
|
|||||||
69,083,083 | ||||||||
|
|
|||||||
Total
Short-Term Investments — 1.9% |
|
69,083,083 | ||||||
|
|
|||||||
Total
Investments in Securities — 101.8% |
|
3,697,981,197 | ||||||
Other Assets, Less Liabilities — (1.8)% |
|
(65,554,268 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 3,632,426,929 | |||||
|
|
(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 September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at 09/30/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 43,347,251 | $ | 21,572,254 | (a) | $ | — | $ | 7,001 | $ | (2,423 | ) | $ | 64,924,083 | 64,891,637 | $ | 71,571 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
2,339,000 | 1,820,000 | (a) | — | — | — | 4,159,000 | 4,159,000 | 158 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 7,001 | $ | (2,423 | ) | $ | 69,083,083 | $ | 71,729 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 S&P Communication Services Index |
17 | 12/17/21 | $ | 1,782 | $ | (56,172 | ) | |||||||||
E-Mini Technoloy Select Sector Index |
10 | 12/17/21 | 1,505 | (84,823 | ) | |||||||||||
|
|
|||||||||||||||
$ | (140,995 | ) | ||||||||||||||
|
|
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 |
$ | 140,995 | ||
|
|
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) September 30, 2021 |
iShares® Expanded Tech Sector ETF |
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Equity Contracts |
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 386,240 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | (139,166 | ) | |
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 2,761,558 |
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 | |||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 3,628,898,114 | $ | — | $ | — | $ | 3,628,898,114 | ||||||||
Money Market Funds |
69,083,083 | — | — | 69,083,083 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
$ | 3,697,981,197 | $ | — | $ | — | $ | 3,697,981,197 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
Derivative financial instruments(a) |
||||||||||||||||
Liabilities |
||||||||||||||||
Futures Contracts |
$ | (140,995 | ) | $ | — | $ | — | $ | (140,995 | ) | ||||||
|
|
|
|
|
|
|
|
(a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
20 |
2 0 2 1 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) September 30, 2021 |
iShares® Expanded Tech-Software Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Application Software — 62.4% | ||||||||
8x8 Inc.(a) |
243,159 | $ | 5,687,489 | |||||
ACI Worldwide Inc.(a) |
255,103 | 7,839,315 | ||||||
Adobe Inc.(a) |
745,036 | 428,932,126 | ||||||
Alarm.com Holdings Inc.(a) |
99,449 | 7,775,917 | ||||||
Altair Engineering Inc., Class A(a)(b) |
101,069 | 6,967,697 | ||||||
Alteryx Inc., Class A(a) |
128,850 | 9,418,935 | ||||||
Anaplan Inc.(a) |
313,521 | 19,090,294 | ||||||
ANSYS Inc.(a) |
189,007 | 64,347,433 | ||||||
Appfolio Inc., Class A(a)(b) |
40,947 | 4,930,019 | ||||||
Asana Inc., Class A(a) |
169,117 | 17,561,109 | ||||||
Aspen Technology Inc.(a) |
147,263 | 18,083,896 | ||||||
Autodesk Inc.(a) |
476,397 | 135,854,132 | ||||||
Avalara Inc.(a) |
186,979 | 32,678,320 | ||||||
Avaya Holdings Corp.(a) |
182,423 | 3,610,151 | ||||||
Bill.com Holdings Inc.(a)(b) |
191,085 | 51,010,141 | ||||||
Blackbaud Inc.(a) |
91,352 | 6,426,613 | ||||||
Blackline Inc.(a) |
115,141 | 13,593,546 | ||||||
Bottomline Technologies DE Inc.(a) |
85,672 | 3,365,196 | ||||||
Box Inc., Class A(a) |
332,544 | 7,871,316 | ||||||
BTRS Holdings Inc.(a)(b) |
156,625 | 1,666,490 | ||||||
Cadence Design Systems Inc.(a) |
599,208 | 90,744,060 | ||||||
CDK Global Inc. |
263,787 | 11,224,137 | ||||||
Cerence Inc.(a)(b) |
82,328 | 7,912,544 | ||||||
Ceridian HCM Holding Inc.(a) |
292,171 | 32,904,298 | ||||||
Citrix Systems Inc. |
269,115 | 28,894,878 | ||||||
Cloudera Inc.(a) |
483,982 | 7,729,193 | ||||||
Cornerstone OnDemand Inc.(a) |
125,804 | 7,203,537 | ||||||
Coupa Software Inc.(a) |
159,271 | 34,909,018 | ||||||
Datadog Inc., Class A(a) |
518,934 | 73,351,321 | ||||||
Descartes Systems Group Inc. (The)(a)(b) |
183,308 | 14,895,608 | ||||||
Digital Turbine Inc.(a)(b) |
189,430 | 13,023,313 | ||||||
DocuSign Inc.(a) |
421,846 | 108,595,816 | ||||||
Domo Inc., Class B(a) |
61,556 | 5,197,789 | ||||||
Dropbox Inc., Class A(a) |
622,876 | 18,200,437 | ||||||
Duck Creek Technologies Inc.(a)(b) |
162,630 | 7,194,751 | ||||||
Dynatrace Inc.(a) |
424,918 | 30,156,430 | ||||||
E2open Parent Holdings Inc.(a) |
376,192 | 4,250,970 | ||||||
Elastic NV(a) |
154,607 | 23,034,897 | ||||||
Envestnet Inc.(a) |
108,970 | 8,743,753 | ||||||
Everbridge Inc.(a) |
83,146 | 12,558,372 | ||||||
Fair Isaac Corp.(a) |
61,492 | 24,469,512 | ||||||
Five9 Inc.(a) |
146,650 | 23,425,871 | ||||||
Guidewire Software Inc.(a)(b) |
180,130 | 21,412,053 | ||||||
HubSpot Inc.(a)(b) |
96,731 | 65,398,862 | ||||||
InterDigital Inc. |
66,800 | 4,530,376 | ||||||
Intuit Inc. |
591,696 | 319,225,909 | ||||||
J2 Global Inc.(a)(b) |
104,559 | 14,284,851 | ||||||
Jamf Holding Corp.(a)(b) |
117,668 | 4,532,571 | ||||||
Lightspeed Commerce Inc.(a)(b) |
270,901 | 26,122,983 | ||||||
LivePerson Inc.(a)(b) |
140,545 | 8,285,128 | ||||||
Mandiant Inc. |
518,143 | 9,222,945 | ||||||
Manhattan Associates Inc.(a)(b) |
137,339 | 21,016,987 | ||||||
Medallia Inc.(a) |
254,181 | 8,609,110 | ||||||
MicroStrategy Inc., Class A(a)(b) |
16,890 | 9,769,176 | ||||||
Mimecast Ltd.(a)(b) |
132,436 | 8,422,930 | ||||||
Momentive Global Inc.(a)(b) |
278,005 | 5,448,898 | ||||||
New Relic Inc.(a) |
126,425 | 9,073,522 | ||||||
Nuance Communications Inc.(a) |
617,499 | 33,987,145 |
Security | Shares | Value | ||||||
Application Software (continued) | ||||||||
Nutanix Inc., Class A(a) |
442,603 | $ | 16,686,133 | |||||
Open Text Corp. |
588,217 | 28,669,697 | ||||||
Pagerduty Inc.(a)(b) |
161,255 | 6,679,182 | ||||||
Palantir Technologies Inc., Class A(a) |
3,393,323 | 81,575,485 | ||||||
Paycom Software Inc.(a) |
104,133 | 51,623,935 | ||||||
Paylocity Holding Corp.(a) |
85,157 | 23,878,023 | ||||||
Pegasystems Inc. |
88,231 | 11,214,160 | ||||||
PROS Holdings Inc.(a) |
86,519 | 3,069,694 | ||||||
PTC Inc.(a) |
228,846 | 27,413,462 | ||||||
Q2 Holdings Inc.(a)(b) |
122,538 | 9,820,195 | ||||||
QAD Inc., Class A |
25,251 | 2,206,685 | ||||||
Qualtrics International Inc., Class A(a) |
136,687 | 5,842,002 | ||||||
RingCentral Inc., Class A(a) |
176,349 | 38,355,908 | ||||||
Riot Blockchain Inc.(a) |
178,739 | 4,593,592 | ||||||
salesforce.com Inc.(a) |
1,890,679 | 512,789,958 | ||||||
Smartsheet Inc., Class A(a)(b) |
271,017 | 18,651,390 | ||||||
Splunk Inc.(a)(b) |
355,079 | 51,383,482 | ||||||
Sprout Social Inc., Class A(a) |
97,785 | 11,924,881 | ||||||
SPS Commerce Inc.(a) |
77,619 | 12,520,721 | ||||||
SS&C Technologies Holdings Inc. |
481,060 | 33,385,564 | ||||||
Synopsys Inc.(a) |
330,329 | 98,903,806 | ||||||
Trade Desk Inc. (The), Class A(a)(b) |
940,394 | 66,109,698 | ||||||
Tyler Technologies Inc.(a) |
88,473 | 40,578,141 | ||||||
Verint Systems Inc.(a)(b) |
140,800 | 6,306,432 | ||||||
Vonage Holdings Corp.(a)(b) |
545,573 | 8,794,637 | ||||||
Workday Inc., Class A(a) |
409,203 | 102,255,738 | ||||||
Workiva Inc.(a) |
93,065 | 13,118,442 | ||||||
Yext Inc.(a) |
246,126 | 2,960,896 | ||||||
Zendesk Inc.(a) |
259,991 | 30,260,352 | ||||||
Zoom Video Communications Inc., Class A(a) |
468,072 | 122,400,828 | ||||||
|
|
|||||||
3,448,647,205 | ||||||||
Interactive Home Entertainment — 5.0% | ||||||||
Activision Blizzard Inc. |
1,683,895 | 130,316,634 | ||||||
Electronic Arts Inc. |
616,015 | 87,628,134 | ||||||
Take-Two Interactive Software Inc.(a) |
252,402 | 38,887,576 | ||||||
Zynga Inc., Class A(a) |
2,223,352 | 16,741,841 | ||||||
|
|
|||||||
273,574,185 | ||||||||
Interactive Media & Services — 3.0% | ||||||||
Snap Inc., Class A, NVS(a)(b) |
2,267,990 | 167,536,421 | ||||||
|
|
|||||||
Internet Services & Infrastructure — 1.2% | ||||||||
Cloudflare Inc., Class A(a) |
570,236 | 64,237,085 | ||||||
SolarWinds Corp |
95,848 | 1,603,537 | ||||||
|
|
|||||||
65,840,622 | ||||||||
Systems Software — 28.4% | ||||||||
Appian Corp.(a)(b) |
85,934 | 7,949,754 | ||||||
BlackBerry Ltd.(a)(b) |
1,104,548 | 10,747,252 | ||||||
CommVault Systems Inc.(a) |
99,368 | 7,483,404 | ||||||
Crowdstrike Holdings Inc., Class A(a)(b) |
431,384 | 106,025,560 | ||||||
Dolby Laboratories Inc., Class A |
141,655 | 12,465,640 | ||||||
Fortinet Inc.(a) |
293,453 | 85,700,014 | ||||||
McAfee Corp., Class A |
158,462 | 3,503,595 | ||||||
Microsoft Corp. |
1,658,456 | 467,551,916 | ||||||
N-Able Inc.(a) |
147,137 | 1,825,970 | ||||||
NortonLifeLock Inc. |
1,259,168 | 31,856,950 | ||||||
Oracle Corp. |
3,566,901 | 310,784,084 | ||||||
Palo Alto Networks Inc.(a)(b) |
210,852 | 100,998,108 | ||||||
Ping Identity Holding Corp.(a) |
106,691 | 2,621,398 | ||||||
Progress Software Corp. |
94,782 | 4,662,327 |
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) September 30, 2021 |
iShares® Expanded Tech-Software Sector ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Systems Software (continued) | ||||||||
Qualys Inc.(a)(b) |
72,553 | $ | 8,074,423 | |||||
Rapid7 Inc.(a) |
120,837 | 13,656,998 | ||||||
SailPoint Technologies Holdings Inc.(a)(b) |
201,333 | 8,633,159 | ||||||
ServiceNow Inc.(a) |
428,950 | 266,922,716 | ||||||
Telos Corp.(a) |
114,203 | 3,245,649 | ||||||
Tenable Holdings Inc.(a) |
196,652 | 9,073,523 | ||||||
Teradata Corp.(a) |
236,333 | 13,553,698 | ||||||
Varonis Systems Inc.(a)(b) |
231,884 | 14,110,141 | ||||||
VMware Inc., Class A(a)(b) |
174,118 | 25,891,347 | ||||||
Xperi Holding Corp. |
226,950 | 4,275,738 | ||||||
Zscaler Inc.(a) |
169,145 | 44,353,202 | ||||||
Zuora Inc., Class A(a) |
241,315 | 4,001,003 | ||||||
|
|
|||||||
1,569,967,569 | ||||||||
|
|
|||||||
Total
Common Stocks — 100.0% |
5,525,566,002 | |||||||
|
|
|||||||
Short-Term Investments |
||||||||
Money Market Funds — 4.1% | ||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(c)(d)(e) |
225,480,396 | 225,593,136 |
Security | Shares | Value | ||||||
Money Market Funds (continued) | ||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(c)(d) |
2,090,000 | $ | 2,090,000 | |||||
|
|
|||||||
227,683,136 | ||||||||
|
|
|||||||
Total
Short -Term Investments — 4.1% |
|
227,683,136 | ||||||
|
|
|||||||
Total
Investments in Securities — 104.1% |
|
5,753,249,138 | ||||||
Other Assets, Less Liabilities — (4.1)% |
|
(227,384,684 | ) | |||||
|
|
|||||||
Net Assets — 100.0% |
|
$ | 5,525,864,454 | |||||
|
|
(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 September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 03/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value at 09/30/21 |
Shares Held at 09/30/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 224,544,053 | $ | 1,074,855 | (a) | $ | — | $ | 12,009 | $ | (37,781 | ) | $ | 225,593,136 | 225,480,396 | $ | 355,552 | (b) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares |
4,920,000 | — | (2,830,000 | )(a) | — | — | 2,090,000 | 2,090,000 | 222 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
$ | 12,009 | $ | (37,781 | ) | $ | 227,683,136 | $ | 355,774 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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 Categorized by Risk Exposure
For the period ended September 30, 2021, the effect of derivative financial instruments in the Statements of Operations was as follows:
Equity Contracts |
||||
Net Realized Gain (Loss) from: |
||||
Futures contracts |
$ | 871,253 | ||
|
|
|||
Net Change in Unrealized Appreciation (Depreciation) on: |
||||
Futures contracts |
$ | 13,920 | ||
|
|
Average Quarterly Balances of Outstanding Derivative Financial Instruments
Futures contracts: |
||||
Average notional value of contracts — long |
$ | 2,325,568 |
22 |
2 0 2 1 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) September 30, 2021 |
iShares® Expanded Tech-Software Sector ETF |
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 | |||||||||||||
Investments |
||||||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 5,525,566,002 | $ | — |