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SEPTEMBER 30, 2022 |
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2022 Semi-Annual Report (Unaudited)
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iShares Trust
· iShares Russell 3000 ETF | IWV | NYSE Arca
· iShares Russell Mid-Cap Value ETF | IWS | NYSE Arca
Dear Shareholder,
The 12-month reporting period as of September 30, 2022 saw the emergence of significant challenges that disrupted the economic recovery and strong financial markets of 2021. The U.S. economy shrank in the first half of 2022, ending the run of robust growth that followed the reopening of global economies and the development of COVID-19 vaccines. Changes in consumer spending patterns and a tight labor market led to elevated inflation, which reached a 40-year high. Moreover, while the foremost effect of Russia’s invasion of Ukraine has been a severe humanitarian crisis, the ongoing war continued to present challenges for both investors and policymakers.
Equity prices fell as interest rates rose, particularly weighing on relatively high-valuation growth stocks and economically sensitive small-capitalization stocks. While both large- and small-capitalization U.S. stocks fell, declines for small-capitalization U.S. stocks were steeper. Both emerging market stocks and international equities from developed markets fell significantly, pressured by rising interest rates and a strengthening U.S. dollar.
The 10-year U.S. Treasury yield (which is inversely related to bond prices) rose notably during the reporting period as investors reacted to higher inflation and attempted to anticipate its impact on future interest rate changes. The corporate bond market also faced inflationary headwinds, and increasing uncertainty led to higher corporate bond spreads (the difference in yield between U.S. Treasuries and similarly-dated corporate bonds).
The U.S. Federal Reserve (the “Fed”), acknowledging that inflation is proving 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 September 30, 2022 | ||||||||
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6-Month
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12-Month
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|||||||
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U.S. large cap equities (S&P 500® Index) |
(20.20) | % | (15.47)% | |||||
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U.S. small cap equities (Russell 2000® Index) |
(19.01) | (23.50) | ||||||
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International equities (MSCI Europe, Australasia, Far East Index) |
(22.51) | (25.13) | ||||||
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Emerging market equities (MSCI Emerging Markets Index) |
(21.70) | (28.11) | ||||||
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3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index) |
0.58 | 0.63 | ||||||
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U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) |
(10.81) | (16.20) | ||||||
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U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) |
(9.22) | (14.60) | ||||||
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Tax-exempt municipal bonds (Bloomberg Municipal Bond Index) |
(6.30) | (11.50) | ||||||
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U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) |
(10.42) | (14.15) | ||||||
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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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| 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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Semi-Annual Report: |
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Financial Statements: |
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| Fund Summary as of September 30, 2022 | iShares® Russell 3000 ETF |
Investment Objective
The iShares Russell 3000 ETF (the “Fund”) seeks to track the investment results of a broad-based index composed of U.S. equities, as represented by the Russell 3000® 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 | |||||||||||||||||||||||||||||||
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6-Month Total Returns |
1 Year | 5 Years | 10 Years | 1 Year | 5 Years | 10 Years | ||||||||||||||||||||||||||
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Fund NAV |
(20.49 | )% | (17.75 | )% | 8.43 | % | 11.20 | % | (17.75 | )% | 49.87 | % | 188.99 | % | ||||||||||||||||||
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Fund Market |
(20.51 | ) | (17.68 | ) | 8.45 | 11.22 | (17.68 | ) | 50.03 | 189.51 | ||||||||||||||||||||||
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Index |
(20.42 | ) | (17.63 | ) | 8.62 | 11.39 | (17.63 | ) | 51.17 | 193.95 | ||||||||||||||||||||||
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
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Beginning Account Value (04/01/22) |
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Ending Account Value (09/30/22) |
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Expenses Paid During the Period |
(a) |
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Beginning Account Value (04/01/22) |
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Ending Account Value (09/30/22) |
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Expenses Paid During the Period |
(a) |
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Annualized Expense Ratio |
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| $ | 1,000.00 | $ 795.10 | $ 0.90 | $ 1,000.00 | $ 1,024.07 | $ 1.01 | 0.20 | % | ||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/365 (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
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Sector |
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Percent of Total Investments |
(a) | |
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Information Technology |
25.3 | % | ||
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Health Care |
14.9 | |||
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Financials |
11.7 | |||
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Consumer Discretionary |
11.5 | |||
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Industrials |
9.0 | |||
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Communication Services |
7.4 | |||
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Consumer Staples |
6.3 | |||
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Energy |
4.7 | |||
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Real Estate |
3.4 | |||
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Utilities |
3.0 | |||
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Materials |
2.8 | |||
TEN LARGEST HOLDINGS
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Security |
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Percent of Total Investments |
(a) | |
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Apple Inc. |
5.9 | % | ||
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Microsoft Corp. |
4.9 | |||
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Amazon.com, Inc. |
2.8 | |||
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Tesla, Inc. |
1.9 | |||
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Alphabet, Inc., Class A |
1.6 | |||
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Alphabet, Inc., Class C, NVS |
1.5 | |||
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Berkshire Hathaway, Inc., Class B |
1.4 | |||
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UnitedHealth Group, Inc. |
1.3 | |||
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Johnson & Johnson |
1.2 | |||
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Exxon Mobil Corp. |
1.0 | |||
| (a) |
Excludes money market funds. |
| 4 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
| Fund Summary as of September 30, 2022 | iShares® Russell Mid-Cap Value ETF |
Investment Objective
The iShares Russell 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 Russell MidCap® 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 | ||||||||||||||||||||||||||
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Fund NAV |
(18.95 | )% | (13.74 | )% | 4.56 | % | 9.21 | % | (13.74 | )% | 24.99 | % | 141.44 | % | ||||||||||||||||||
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Fund Market |
(18.93 | ) | (13.66 | ) | 4.59 | 9.23 | (13.66 | ) | 25.15 | 141.77 | ||||||||||||||||||||||
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Index |
(18.88 | ) | (13.56 | ) | 4.76 | 9.44 | (13.56 | ) | 26.15 | 146.45 | ||||||||||||||||||||||
Past performance is not an indication of future results. Performance results do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. See “About Fund Performance” for more information.
Expense Example
| Actual | Hypothetical 5% Return | |||||||||||||||||||||||||||||
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Beginning Account Value (04/01/22) |
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Ending Account Value (09/30/22) |
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Expenses Paid During the Period |
(a) |
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Beginning Account Value (04/01/22) |
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Ending Account Value (09/30/22) |
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Expenses Paid During the Period |
(a) |
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Annualized Expense Ratio |
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| $ | 1,000.00 | $ 810.50 | $ 1.06 | $ 1,000.00 | $ 1,023.89 | $ 1.17 | 0.23 | % | ||||||||||||||||||||||
| (a) |
Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/365 (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
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Sector |
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Percent of Total Investments |
(a) | |
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Financials |
18.4 | % | ||
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Industrials |
15.1 | |||
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Real Estate |
11.2 | |||
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Consumer Discretionary |
9.7 | |||
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Information Technology |
9.3 | |||
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Utilities |
9.0 | |||
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Materials |
7.3 | |||
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Health Care |
7.3 | |||
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Energy |
5.2 | |||
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Consumer Staples |
4.1 | |||
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Communication Services |
3.4 | |||
TEN LARGEST HOLDINGS
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Security |
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Percent of Total Investments |
(a) | |
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Corteva, Inc. |
0.7 | % | ||
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Biogen, Inc. |
0.7 | |||
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Phillips 66 |
0.7 | |||
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Motorola Solutions, Inc. |
0.7 | |||
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Realty Income Corp. |
0.6 | |||
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Aflac, Inc. |
0.6 | |||
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Xcel Energy, Inc. |
0.6 | |||
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Williams Cos., Inc. |
0.6 | |||
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Allstate Corp. |
0.6 | |||
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Prudential Financial, Inc. |
0.6 | |||
| (a) |
Excludes money market funds. |
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F U N D S U M M A R Y |
5 |
Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.
Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.
An index is a statistical composite that tracks a specified financial market or sector. Unlike a fund, an index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a fund. These expenses negatively impact fund performance. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower.
Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period and held through the end of the period) are intended to assist shareholders both in calculating expenses based on an investment in each Fund and in comparing these expenses with similar costs of investing in other funds.
The expense examples provide information about actual account values and actual expenses. Annualized expense ratios reflect contractual and voluntary fee waivers, if any. In order to estimate the expenses a shareholder paid during the period covered by this report, shareholders can divide their account value by $1,000 and then multiply the result by the number under the heading entitled “Expenses Paid During the Period.”
The expense examples also provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses. In order to assist shareholders in comparing the ongoing expenses of investing in the Funds and other funds, compare the 5% hypothetical examples with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
The expenses shown in the expense examples are intended to highlight shareholders’ ongoing costs only and do not reflect any transactional expenses, such as brokerage commissions and other fees paid on purchases and sales of fund shares. Therefore, the hypothetical examples are useful in comparing ongoing expenses only and will not help shareholders determine the relative total expenses of owning different funds. If these transactional expenses were included, shareholder expenses would have been higher.
| 6 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
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Schedule of Investments (unaudited) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
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Common Stocks |
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| Aerospace & Defense — 1.6% | ||||||||
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AAR Corp.(a) |
9,412 | $ | 337,138 | |||||
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Aerojet Rocketdyne Holdings, Inc.(a) |
19,953 | 797,920 | ||||||
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AeroVironment, Inc.(a) |
5,882 | 490,324 | ||||||
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AerSale Corp.(a)(b) |
7,451 | 138,142 | ||||||
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Archer Aviation, Inc., Class A(a)(b) |
41,157 | 107,420 | ||||||
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Axon Enterprise, Inc.(a)(b) |
18,497 | 2,141,028 | ||||||
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Boeing Co.(a)(b) |
145,316 | 17,594,861 | ||||||
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BWX Technologies, Inc. |
25,281 | 1,273,404 | ||||||
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Cadre Holdings, Inc.(b) |
6,727 | 161,852 | ||||||
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Curtiss-Wright Corp. |
10,074 | 1,401,898 | ||||||
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Ducommun, Inc.(a) |
2,621 | 103,949 | ||||||
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General Dynamics Corp. |
64,117 | 13,603,704 | ||||||
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HEICO Corp.(b) |
11,932 | 1,717,969 | ||||||
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HEICO Corp., Class A |
20,746 | 2,377,907 | ||||||
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Hexcel Corp. |
21,615 | 1,117,928 | ||||||
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Howmet Aerospace, Inc. |
100,832 | 3,118,734 | ||||||
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Huntington Ingalls Industries, Inc. |
10,321 | 2,286,101 | ||||||
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Kaman Corp. |
7,825 | 218,552 | ||||||
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Kratos Defense & Security Solutions, Inc.(a)(b) |
33,584 | 341,213 | ||||||
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L3Harris Technologies, Inc. |
50,995 | 10,598,291 | ||||||
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Lockheed Martin Corp. |
62,240 | 24,042,690 | ||||||
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Maxar Technologies, Inc.(b) |
18,075 | 338,364 | ||||||
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Mercury Systems, Inc.(a) |
15,515 | 629,909 | ||||||
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Moog, Inc., Class A |
7,797 | 548,519 | ||||||
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National Presto Industries, Inc. |
2,249 | 146,297 | ||||||
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Northrop Grumman Corp. |
38,608 | 18,158,115 | ||||||
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Parsons Corp.(a) |
8,156 | 319,715 | ||||||
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Raytheon Technologies Corp. |
392,410 | 32,122,683 | ||||||
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Rocket Lab USA, Inc.(a) |
61,820 | 251,607 | ||||||
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Spirit AeroSystems Holdings, Inc., Class A(b) |
28,302 | 620,380 | ||||||
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Textron, Inc. |
56,832 | 3,311,032 | ||||||
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TransDigm Group, Inc. |
13,642 | 7,159,594 | ||||||
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Triumph Group, Inc.(a) |
15,990 | 137,354 | ||||||
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V2X, Inc.(a) |
3,353 | 118,696 | ||||||
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Virgin Galactic Holdings, Inc.(a)(b) |
66,738 | 314,336 | ||||||
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Woodward, Inc.(b) |
16,524 | 1,326,216 | ||||||
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| 149,473,842 | ||||||||
| Air Freight & Logistics — 0.5% | ||||||||
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Air Transport Services Group, Inc.(a) |
15,897 | 382,959 | ||||||
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Atlas Air Worldwide Holdings, Inc.(a) |
7,973 | 761,979 | ||||||
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CH Robinson Worldwide, Inc. |
32,867 | 3,165,421 | ||||||
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Expeditors International of Washington, Inc. |
43,778 | 3,866,035 | ||||||
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FedEx Corp. |
63,302 | 9,398,448 | ||||||
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Forward Air Corp. |
7,357 | 664,043 | ||||||
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GXO Logistics, Inc.(a) |
28,215 | 989,218 | ||||||
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Hub Group, Inc., Class A(a) |
9,213 | 635,513 | ||||||
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United Parcel Service, Inc., Class B |
194,146 | 31,362,345 | ||||||
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|
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|||||||
| 51,225,961 | ||||||||
| Airlines — 0.2% | ||||||||
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Alaska Air Group, Inc.(a) |
32,746 | 1,282,006 | ||||||
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Allegiant Travel Co.(a) |
3,683 | 268,785 | ||||||
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American Airlines Group, Inc.(a)(b) |
175,167 | 2,109,011 | ||||||
|
Blade Air Mobility, Inc.(a)(b) |
23,519 | 94,782 | ||||||
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Copa Holdings SA, Class A, NVS(a)(b) |
8,190 | 548,812 | ||||||
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Delta Air Lines, Inc.(a) |
168,453 | 4,726,791 | ||||||
|
Frontier Group Holdings, Inc.(a) |
9,855 | 95,594 | ||||||
|
Hawaiian Holdings, Inc.(a) |
14,275 | 187,716 | ||||||
|
JetBlue Airways Corp.(a) |
82,740 | 548,566 | ||||||
|
Joby Aviation, Inc.(a)(b) |
70,086 | 303,472 | ||||||
|
SkyWest, Inc.(a) |
14,072 | 228,811 | ||||||
| Security | Shares | Value | ||||||
| Airlines (continued) | ||||||||
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Southwest Airlines Co.(a) |
156,408 | $ | 4,823,623 | |||||
|
Spirit Airlines, Inc.(a) |
26,710 | 502,682 | ||||||
|
Sun Country Airlines Holdings, Inc.(a) |
6,792 | 92,439 | ||||||
|
United Airlines Holdings, Inc.(a) |
86,696 | 2,820,221 | ||||||
|
|
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| 18,633,311 | ||||||||
| Auto Components — 0.2% | ||||||||
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Adient PLC(a) |
24,939 | 692,057 | ||||||
|
American
Axle & Manufacturing Holdings, |
30,249 | 206,601 | ||||||
|
Aptiv PLC(a) |
71,693 | 5,607,110 | ||||||
|
BorgWarner, Inc. |
62,611 | 1,965,985 | ||||||
|
Dana, Inc. |
34,221 | 391,146 | ||||||
|
Dorman Products, Inc.(a) |
7,439 | 610,891 | ||||||
|
Fox Factory Holding Corp.(a) |
11,267 | 890,994 | ||||||
|
Gentex Corp. |
62,961 | 1,500,990 | ||||||
|
Gentherm, Inc.(a) |
8,492 | 422,307 | ||||||
|
Goodyear Tire & Rubber Co.(a) |
75,514 | 761,936 | ||||||
|
LCI Industries |
6,981 | 708,292 | ||||||
|
Lear Corp. |
15,990 | 1,913,843 | ||||||
|
Luminar Technologies, Inc.(a)(b) |
66,378 | 483,564 | ||||||
|
Modine Manufacturing Co.(a) |
11,784 | 152,485 | ||||||
|
Patrick Industries, Inc. |
5,916 | 259,358 | ||||||
|
QuantumScape Corp.(a)(b) |
64,559 | 542,941 | ||||||
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Solid Power, Inc.(a)(b) |
37,962 | 199,680 | ||||||
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Standard Motor Products, Inc. |
5,107 | 165,978 | ||||||
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Stoneridge, Inc.(a)(b) |
6,860 | 116,277 | ||||||
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Tenneco, Inc., Class A(a)(b) |
21,764 | 378,476 | ||||||
|
Visteon Corp.(a) |
7,010 | 743,481 | ||||||
|
XPEL, Inc.(a) |
6,662 | 429,299 | ||||||
|
|
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| 19,143,691 | ||||||||
| Automobiles — 2.2% | ||||||||
|
Canoo, Inc.(a)(b) |
51,368 | 96,315 | ||||||
|
Fisker, Inc.(a)(b) |
41,283 | 311,687 | ||||||
|
Ford Motor Co. |
1,044,159 | 11,694,581 | ||||||
|
General Motors Co. |
384,537 | 12,339,792 | ||||||
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Harley-Davidson, Inc. |
35,763 | 1,247,414 | ||||||
|
Lordstown Motors Corp., Class A(a)(b) |
63,763 | 116,686 | ||||||
|
Lucid Group, Inc.(a)(b) |
140,633 | 1,964,643 | ||||||
|
Rivian Automotive, Inc., Class A(a)(b) |
138,514 | 4,558,496 | ||||||
|
Tesla, Inc.(a) |
672,161 | 178,290,705 | ||||||
|
Thor Industries, Inc. |
14,578 | 1,020,168 | ||||||
|
Winnebago Industries, Inc.(b) |
7,853 | 417,858 | ||||||
|
Workhorse Group, Inc.(a)(b) |
35,530 | 101,971 | ||||||
|
|
|
|||||||
| 212,160,316 | ||||||||
| Banks — 4.0% | ||||||||
|
1st Source Corp. |
4,055 | 187,747 | ||||||
|
Allegiance Bancshares, Inc. |
6,107 | 254,234 | ||||||
|
Amalgamated Financial Corp. |
5,087 | 114,712 | ||||||
|
Amerant Bancorp, Inc. |
7,782 | 193,305 | ||||||
|
American National Bankshares, Inc. |
3,354 | 107,160 | ||||||
|
Ameris Bancorp |
16,322 | 729,757 | ||||||
|
Arrow Financial Corp. |
4,859 | 140,036 | ||||||
|
Associated Banc-Corp. |
39,677 | 796,714 | ||||||
|
Atlantic Union Bankshares Corp. |
19,258 | 585,058 | ||||||
|
Banc of California, Inc. |
14,370 | 229,489 | ||||||
|
BancFirst Corp. |
4,754 | 425,340 | ||||||
|
Bancorp, Inc.(a) |
12,700 | 279,146 | ||||||
|
Bank First Corp. |
1,648 | 126,039 | ||||||
|
Bank of America Corp. |
1,850,128 | 55,873,866 | ||||||
|
Bank of Hawaii Corp. |
8,089 | 615,735 | ||||||
|
Bank of Marin Bancorp |
4,518 | 135,314 | ||||||
|
Bank of NT Butterfield & Son Ltd. |
14,094 | 457,491 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
7 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Banks (continued) | ||||||||
|
Bank OZK |
32,331 | $ | 1,279,014 | |||||
|
BankUnited, Inc. |
20,695 | 707,148 | ||||||
|
Banner Corp. |
9,732 | 574,967 | ||||||
|
Bar Harbor Bankshares |
4,826 | 127,986 | ||||||
|
BayCom Corp.(b) |
9,125 | 160,418 | ||||||
|
Berkshire Hills Bancorp, Inc. |
11,818 | 322,631 | ||||||
|
BOK Financial Corp. |
7,821 | 694,974 | ||||||
|
Brookline Bancorp, Inc. |
17,954 | 209,164 | ||||||
|
Business First Bancshares, Inc. |
6,563 | 141,301 | ||||||
|
Byline Bancorp, Inc. |
7,382 | 149,486 | ||||||
|
Cadence Bank |
38,189 | 970,383 | ||||||
|
Cambridge Bancorp |
1,682 | 134,123 | ||||||
|
Camden National Corp. |
3,734 | 159,068 | ||||||
|
Capital City Bank Group, Inc. |
4,580 | 142,484 | ||||||
|
Capstar Financial Holdings, Inc. |
5,924 | 109,772 | ||||||
|
Carter Bankshares, Inc.(a)(b) |
8,338 | 134,242 | ||||||
|
Cathay General Bancorp |
17,876 | 687,511 | ||||||
|
Central Pacific Financial Corp. |
8,258 | 170,858 | ||||||
|
Citigroup, Inc. |
512,238 | 21,344,957 | ||||||
|
Citizens & Northern Corp. |
5,829 | 140,945 | ||||||
|
Citizens Financial Group, Inc. |
128,975 | 4,431,581 | ||||||
|
City Holding Co. |
4,234 | 375,513 | ||||||
|
Civista Bancshares, Inc. |
6,052 | 125,640 | ||||||
|
CNB Financial Corp. |
5,085 | 119,853 | ||||||
|
Coastal Financial Corp.(a)(b) |
2,806 | 111,510 | ||||||
|
Colony Bankcorp, Inc. |
12,004 | 156,412 | ||||||
|
Columbia Banking System, Inc. |
19,525 | 564,077 | ||||||
|
Comerica, Inc. |
34,075 | 2,422,733 | ||||||
|
Commerce Bancshares, Inc. |
26,349 | 1,743,250 | ||||||
|
Community Bank System, Inc. |
14,122 | 848,450 | ||||||
|
Community Trust Bancorp, Inc. |
3,860 | 156,523 | ||||||
|
ConnectOne Bancorp, Inc. |
10,470 | 241,438 | ||||||
|
CrossFirst Bankshares, Inc.(a)(b) |
12,900 | 168,345 | ||||||
|
Cullen/Frost Bankers, Inc. |
15,149 | 2,003,001 | ||||||
|
Customers Bancorp, Inc.(a) |
7,353 | 216,766 | ||||||
|
CVB Financial Corp. |
34,654 | 877,439 | ||||||
|
Dime Community Bancshares, Inc. |
9,599 | 281,059 | ||||||
|
Eagle Bancorp, Inc. |
9,569 | 428,883 | ||||||
|
East West Bancorp, Inc. |
37,423 | 2,512,580 | ||||||
|
Eastern Bankshares, Inc. |
40,364 | 792,749 | ||||||
|
Enterprise Bancorp., Inc. |
4,090 | 122,332 | ||||||
|
Enterprise Financial Services Corp. |
9,390 | 413,536 | ||||||
|
Equity Bancshares, Inc., Class A |
3,982 | 117,987 | ||||||
|
Farmers & Merchants Bancorp., Inc./Archbold OH |
4,366 | 117,314 | ||||||
|
Farmers National Banc Corp. |
10,858 | 142,131 | ||||||
|
FB Financial Corp. |
7,655 | 292,498 | ||||||
|
Fifth Third Bancorp |
181,454 | 5,799,270 | ||||||
|
Financial Institutions, Inc. |
4,641 | 111,709 | ||||||
|
First Bancorp., Inc. |
3,801 | 104,718 | ||||||
|
First BanCorp/Puerto Rico |
49,297 | 674,383 | ||||||
|
First Bancorp/Southern Pines NC |
8,695 | 318,063 | ||||||
|
First Bancshares, Inc. |
5,056 | 151,023 | ||||||
|
First Busey Corp. |
14,033 | 308,445 | ||||||
|
First Citizens BancShares, Inc., Class A(b) |
3,212 | 2,561,345 | ||||||
|
First Commonwealth Financial Corp. |
23,135 | 297,053 | ||||||
|
First Community Bankshares, Inc. |
4,424 | 141,701 | ||||||
|
First Financial Bancorp |
24,566 | 517,851 | ||||||
|
First Financial Bankshares, Inc. |
34,592 | 1,446,983 | ||||||
|
First Financial Corp. |
2,807 | 126,848 | ||||||
|
First Foundation, Inc. |
11,649 | 211,313 | ||||||
|
First Hawaiian, Inc. |
35,515 | 874,734 | ||||||
|
First Horizon Corp. |
137,391 | 3,146,254 | ||||||
| Security | Shares | Value | ||||||
| Banks (continued) | ||||||||
|
First Internet Bancorp |
3,319 | $ | 112,381 | |||||
|
First Interstate BancSystem, Inc., Class A |
23,766 | 958,958 | ||||||
|
First Merchants Corp. |
14,373 | 555,948 | ||||||
|
First Mid Bancshares, Inc. |
3,368 | 107,675 | ||||||
|
First of Long Island Corp. |
6,630 | 114,301 | ||||||
|
First Republic Bank |
48,451 | 6,325,278 | ||||||
|
Five Star Bancorp |
3,935 | 111,597 | ||||||
|
Flushing Financial Corp. |
7,595 | 147,115 | ||||||
|
FNB Corp. |
86,381 | 1,002,020 | ||||||
|
Fulton Financial Corp. |
38,232 | 604,066 | ||||||
|
German American Bancorp., Inc. |
6,517 | 232,722 | ||||||
|
Glacier Bancorp, Inc. |
28,562 | 1,403,251 | ||||||
|
Great Southern Bancorp., Inc. |
2,591 | 147,868 | ||||||
|
Guaranty Bancshares, Inc. |
3,136 | 108,474 | ||||||
|
Hancock Whitney Corp. |
23,702 | 1,085,789 | ||||||
|
Hanmi Financial Corp. |
8,508 | 201,469 | ||||||
|
HarborOne Bancorp, Inc. |
17,127 | 229,844 | ||||||
|
Heartland Financial USA, Inc. |
9,671 | 419,335 | ||||||
|
Heritage Commerce Corp. |
16,586 | 188,085 | ||||||
|
Heritage Financial Corp. |
9,192 | 243,312 | ||||||
|
Hilltop Holdings, Inc. |
13,860 | 344,421 | ||||||
|
Home BancShares, Inc. |
52,654 | 1,185,242 | ||||||
|
HomeStreet, Inc. |
4,842 | 139,498 | ||||||
|
HomeTrust Bancshares, Inc. |
5,454 | 120,533 | ||||||
|
Hope Bancorp, Inc. |
29,353 | 371,022 | ||||||
|
Horizon Bancorp, Inc. |
10,594 | 190,268 | ||||||
|
Huntington Bancshares, Inc. |
378,319 | 4,986,244 | ||||||
|
Independent Bank Corp. |
12,027 | 896,372 | ||||||
|
Independent Bank Corp. |
5,584 | 106,654 | ||||||
|
Independent Bank Group, Inc. |
9,241 | 567,305 | ||||||
|
International Bancshares Corp. |
14,706 | 625,005 | ||||||
|
John Marshall Bancorp., Inc. |
5,923 | 145,469 | ||||||
|
JPMorgan Chase & Co. |
769,528 | 80,415,676 | ||||||
|
KeyCorp |
245,288 | 3,929,514 | ||||||
|
Lakeland Bancorp., Inc. |
17,725 | 283,777 | ||||||
|
Lakeland Financial Corp. |
6,035 | 439,408 | ||||||
|
Live Oak Bancshares, Inc.(b) |
8,500 | 260,100 | ||||||
|
M&T Bank Corp. |
45,248 | 7,978,127 | ||||||
|
Mercantile Bank Corp. |
4,780 | 142,014 | ||||||
|
Metrocity Bankshares, Inc. |
7,605 | 149,362 | ||||||
|
Metropolitan Bank Holding Corp.(a) |
2,472 | 159,098 | ||||||
|
Mid Penn Bancorp., Inc. |
5,621 | 161,491 | ||||||
|
Midland States Bancorp., Inc. |
6,266 | 147,690 | ||||||
|
MidWestOne Financial Group, Inc. |
6,094 | 166,305 | ||||||
|
National Bank Holdings Corp., Class A |
7,742 | 286,377 | ||||||
|
NBT Bancorp, Inc. |
11,816 | 448,417 | ||||||
|
Nicolet Bankshares, Inc.(a) |
3,279 | 230,973 | ||||||
|
Northwest Bancshares, Inc. |
26,773 | 361,703 | ||||||
|
OceanFirst Financial Corp. |
15,230 | 283,887 | ||||||
|
OFG Bancorp |
11,498 | 288,945 | ||||||
|
Old National Bancorp |
77,191 | 1,271,336 | ||||||
|
Old Second Bancorp., Inc. |
11,976 | 156,287 | ||||||
|
Origin Bancorp., Inc. |
7,045 | 271,021 | ||||||
|
Orrstown Financial Services, Inc. |
6,398 | 153,040 | ||||||
|
Pacific Premier Bancorp, Inc. |
22,786 | 705,455 | ||||||
|
PacWest Bancorp |
29,656 | 670,226 | ||||||
|
Park National Corp. |
3,576 | 445,140 | ||||||
|
Pathward Financial, Inc. |
7,953 | 262,131 | ||||||
|
Peapack-Gladstone Financial Corp. |
4,868 | 163,808 | ||||||
|
Peoples Bancorp., Inc. |
5,488 | 158,768 | ||||||
|
Peoples Financial Services Corp. |
3,252 | 152,324 | ||||||
|
Pinnacle Financial Partners, Inc. |
20,341 | 1,649,655 | ||||||
| 8 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Banks (continued) | ||||||||
|
PNC Financial Services Group, Inc. |
108,326 | $ | 16,186,071 | |||||
|
Popular, Inc. |
19,259 | 1,387,804 | ||||||
|
Preferred Bank |
2,534 | 165,293 | ||||||
|
Premier Financial Corp. |
8,972 | 230,580 | ||||||
|
Primis Financial Corp. |
9,763 | 118,425 | ||||||
|
Professional Holding Corp., Class A(a) |
4,162 | 107,962 | ||||||
|
Prosperity Bancshares, Inc. |
22,796 | 1,520,037 | ||||||
|
QCR Holdings, Inc. |
5,077 | 258,622 | ||||||
|
Regions Financial Corp. |
248,337 | 4,984,124 | ||||||
|
Renasant Corp. |
16,064 | 502,482 | ||||||
|
Republic Bancorp., Inc., Class A |
3,148 | 120,568 | ||||||
|
S&T Bancorp, Inc. |
8,969 | 262,881 | ||||||
|
Sandy Spring Bancorp., Inc. |
11,025 | 388,742 | ||||||
|
Seacoast Banking Corp. of Florida |
13,132 | 396,980 | ||||||
|
ServisFirst Bancshares, Inc. |
13,486 | 1,078,880 | ||||||
|
Shore Bancshares, Inc. |
6,828 | 118,261 | ||||||
|
Sierra Bancorp |
7,035 | 138,941 | ||||||
|
Signature Bank |
16,301 | 2,461,451 | ||||||
|
Silvergate Capital Corp., Class A(a)(b) |
8,975 | 676,266 | ||||||
|
Simmons First National Corp., Class A |
34,010 | 741,078 | ||||||
|
SmartFinancial, Inc. |
6,451 | 159,404 | ||||||
|
South Plains Financial, Inc. |
6,230 | 171,699 | ||||||
|
Southern First Bancshares, Inc.(a) |
2,924 | 121,814 | ||||||
|
Southside Bancshares, Inc. |
9,146 | 323,403 | ||||||
|
SouthState Corp. |
20,835 | 1,648,465 | ||||||
|
Stellar Bancorp, Inc. |
5,008 | 146,484 | ||||||
|
Stock Yards Bancorp., Inc. |
7,621 | 518,304 | ||||||
|
Summit Financial Group, Inc. |
4,434 | 119,452 | ||||||
|
SVB Financial Group(a) |
15,479 | 5,197,539 | ||||||
|
Synovus Financial Corp. |
37,684 | 1,413,527 | ||||||
|
Texas Capital Bancshares, Inc.(a) |
13,089 | 772,644 | ||||||
|
Third Coast Bancshares, Inc.(a)(b) |
7,869 | 134,639 | ||||||
|
Tompkins Financial Corp. |
3,570 | 259,253 | ||||||
|
Towne Bank |
17,055 | 457,586 | ||||||
|
TriCo Bancshares |
7,311 | 326,436 | ||||||
|
Triumph Bancorp, Inc.(a)(b) |
6,096 | 331,318 | ||||||
|
Truist Financial Corp. |
350,967 | 15,281,103 | ||||||
|
Trustmark Corp. |
16,710 | 511,827 | ||||||
|
UMB Financial Corp. |
11,236 | 947,082 | ||||||
|
Umpqua Holdings Corp. |
59,357 | 1,014,411 | ||||||
|
United Bankshares, Inc. |
34,598 | 1,236,879 | ||||||
|
United Community Banks, Inc. |
25,931 | 858,316 | ||||||
|
Univest Financial Corp. |
7,217 | 169,455 | ||||||
|
US Bancorp |
355,889 | 14,349,445 | ||||||
|
Valley National Bancorp |
112,944 | 1,219,795 | ||||||
|
Veritex Holdings, Inc. |
12,013 | 319,426 | ||||||
|
Washington Federal, Inc. |
16,824 | 504,384 | ||||||
|
Washington Trust Bancorp., Inc. |
3,604 | 167,514 | ||||||
|
Webster Financial Corp. |
46,846 | 2,117,439 | ||||||
|
Wells Fargo & Co. |
1,001,588 | 40,283,869 | ||||||
|
WesBanco, Inc. |
16,977 | 566,523 | ||||||
|
West BanCorp, Inc. |
5,754 | 119,741 | ||||||
|
Westamerica Bancorp |
7,741 | 404,777 | ||||||
|
Western Alliance Bancorp |
27,871 | 1,832,240 | ||||||
|
Wintrust Financial Corp. |
15,399 | 1,255,788 | ||||||
|
Zions Bancorp NA |
39,725 | 2,020,414 | ||||||
|
|
|
|||||||
| 381,485,287 | ||||||||
| Beverages — 1.6% | ||||||||
|
Boston Beer Co., Inc., Class A, NVS(a)(b) |
2,395 | 775,142 | ||||||
|
Brown-Forman Corp., Class A, NVS(b) |
11,992 | 810,180 | ||||||
|
Brown-Forman Corp., Class B |
49,066 | 3,266,324 | ||||||
|
Celsius Holdings, Inc.(a)(b) |
14,139 | 1,282,124 | ||||||
| Security | Shares | Value | ||||||
| Beverages (continued) | ||||||||
|
Coca-Cola Co. |
1,029,712 | $ | 57,684,466 | |||||
|
Coca-Cola Consolidated, Inc. |
1,139 | 468,960 | ||||||
|
Constellation Brands, Inc., Class A |
40,258 | 9,246,457 | ||||||
|
Duckhorn Portfolio, Inc.(a)(b) |
7,000 | 101,010 | ||||||
|
Keurig Dr Pepper, Inc. |
226,516 | 8,113,803 | ||||||
|
MGP Ingredients, Inc. |
3,883 | 412,219 | ||||||
|
Molson Coors Beverage Co., Class B |
46,571 | 2,234,942 | ||||||
|
Monster Beverage Corp.(a)(b) |
98,458 | 8,561,908 | ||||||
|
National Beverage Corp. |
6,752 | 260,222 | ||||||
|
PepsiCo, Inc. |
361,511 | 59,020,286 | ||||||
|
Primo Water Corp. |
44,998 | 564,725 | ||||||
|
Vita Coco Co., Inc.(a) |
10,812 | 123,149 | ||||||
|
|
|
|||||||
| 152,925,917 | ||||||||
| Biotechnology — 2.7% | ||||||||
|
2seventy bio, Inc.(a) |
7,858 | 114,334 | ||||||
|
4D Molecular Therapeutics, Inc.(a) |
12,062 | 96,978 | ||||||
|
AbbVie, Inc. |
466,372 | 62,591,786 | ||||||
|
ACADIA Pharmaceuticals, Inc.(a) |
30,357 | 496,641 | ||||||
|
Adicet Bio, Inc.(a) |
8,535 | 121,368 | ||||||
|
ADMA Biologics, Inc.(a) |
73,979 | 179,769 | ||||||
|
Agenus, Inc.(a) |
45,627 | 93,535 | ||||||
|
Agios Pharmaceuticals, Inc.(a)(b) |
16,320 | 461,530 | ||||||
|
Akero Therapeutics, Inc.(a) |
8,934 | 304,203 | ||||||
|
Albireo Pharma, Inc.(a) |
6,265 | 121,290 | ||||||
|
Alector, Inc.(a) |
16,220 | 153,441 | ||||||
|
Alkermes PLC(a) |
42,634 | 952,017 | ||||||
|
Allogene Therapeutics, Inc.(a)(b) |
24,956 | 269,525 | ||||||
|
Alnylam Pharmaceuticals, Inc.(a) |
32,075 | 6,420,132 | ||||||
|
ALX Oncology Holdings, Inc.(a)(b) |
9,194 | 87,987 | ||||||
|
Amgen, Inc. |
141,324 | 31,854,430 | ||||||
|
Amicus Therapeutics, Inc.(a) |
70,653 | 737,617 | ||||||
|
AnaptysBio, Inc.(a)(b) |
7,290 | 185,968 | ||||||
|
Anavex Life Sciences Corp.(a)(b) |
19,345 | 199,640 | ||||||
|
Anika Therapeutics, Inc.(a) |
6,026 | 143,419 | ||||||
|
Apellis Pharmaceuticals, Inc.(a) |
24,668 | 1,684,824 | ||||||
|
Arbutus Biopharma Corp.(a)(b) |
48,617 | 92,858 | ||||||
|
Arcellx, Inc.(a) |
10,175 | 190,985 | ||||||
|
Arcturus Therapeutics Holdings, Inc.(a)(b) |
8,808 | 130,535 | ||||||
|
Arcus Biosciences, Inc.(a) |
12,116 | 316,955 | ||||||
|
Arcutis Biotherapeutics, Inc.(a)(b) |
11,503 | 219,822 | ||||||
|
Arrowhead Pharmaceuticals, Inc.(a)(b) |
27,054 | 894,135 | ||||||
|
Atara Biotherapeutics, Inc.(a)(b) |
26,403 | 99,803 | ||||||
|
Aura Biosciences, Inc.(a) |
8,730 | 158,188 | ||||||
|
Aurinia Pharmaceuticals, Inc.(a) |
37,825 | 284,444 | ||||||
|
Avid Bioservices, Inc.(a)(b) |
16,788 | 320,987 | ||||||
|
Avidity Biosciences, Inc.(a)(b) |
15,748 | 257,165 | ||||||
|
Beam Therapeutics, Inc.(a) |
17,702 | 843,323 | ||||||
|
BioCryst Pharmaceuticals, Inc.(a) |
46,250 | 582,750 | ||||||
|
Biogen, Inc.(a) |
38,625 | 10,312,875 | ||||||
|
Biohaven Pharmaceutical Holding Co. Ltd.(a) |
16,429 | 2,483,572 | ||||||
|
BioMarin Pharmaceutical, Inc.(a) |
49,894 | 4,229,514 | ||||||
|
Bioxcel Therapeutics, Inc.(a)(b) |
9,258 | 109,430 | ||||||
|
Bluebird Bio, Inc.(a)(b) |
17,362 | 109,901 | ||||||
|
Blueprint Medicines Corp.(a) |
15,606 | 1,028,279 | ||||||
|
Bridgebio Pharma, Inc.(a)(b) |
28,938 | 287,644 | ||||||
|
C4 Therapeutics, Inc.(a)(b) |
10,640 | 93,313 | ||||||
|
CareDx, Inc.(a)(b) |
12,925 | 219,984 | ||||||
|
Caribou Biosciences, Inc.(a)(b) |
17,981 | 189,700 | ||||||
|
Catalyst Pharmaceuticals, Inc.(a) |
24,483 | 314,117 | ||||||
|
Celldex Therapeutics, Inc.(a) |
13,504 | 379,597 | ||||||
|
Century Therapeutics, Inc.(a)(b) |
10,251 | 101,382 | ||||||
|
Cerevel Therapeutics Holdings, Inc.(a)(b) |
15,699 | 443,654 | ||||||
|
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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Biotechnology (continued) | ||||||||
|
ChemoCentryx, Inc.(a) |
17,444 | $ | 901,157 | |||||
|
Chinook Therapeutics, Inc.(a) |
9,924 | 195,106 | ||||||
|
Cogent Biosciences, Inc.(a) |
14,681 | 219,041 | ||||||
|
Coherus Biosciences, Inc.(a)(b) |
16,634 | 159,853 | ||||||
|
Crinetics Pharmaceuticals, Inc.(a) |
12,259 | 240,767 | ||||||
|
CTI BioPharma Corp.(a) |
29,102 | 169,374 | ||||||
|
Cullinan Oncology, Inc.(a) |
8,160 | 104,611 | ||||||
|
Cytokinetics, Inc.(a)(b) |
20,361 | 986,490 | ||||||
|
Day One Biopharmaceuticals, Inc.(a) |
10,440 | 209,113 | ||||||
|
Deciphera Pharmaceuticals, Inc.(a)(b) |
10,094 | 186,739 | ||||||
|
Denali Therapeutics, Inc.(a) |
24,113 | 740,028 | ||||||
|
Dynavax Technologies Corp.(a) |
28,637 | 298,970 | ||||||
|
Dyne Therapeutics, Inc.(a) |
9,534 | 121,082 | ||||||
|
Eagle Pharmaceuticals, Inc.(a) |
3,860 | 101,981 | ||||||
|
Editas Medicine, Inc.(a) |
18,768 | 229,720 | ||||||
|
Eiger BioPharmaceuticals, Inc.(a) |
15,860 | 119,426 | ||||||
|
Emergent BioSolutions, Inc.(a) |
12,011 | 252,111 | ||||||
|
Enanta Pharmaceuticals, Inc.(a) |
4,849 | 251,518 | ||||||
|
EQRx, Inc.(a)(b) |
46,150 | 228,442 | ||||||
|
Erasca, Inc.(a)(b) |
17,355 | 135,369 | ||||||
|
Exact Sciences Corp.(a) |
45,231 | 1,469,555 | ||||||
|
Exelixis, Inc.(a) |
83,366 | 1,307,179 | ||||||
|
Fate Therapeutics, Inc.(a) |
20,353 | 456,111 | ||||||
|
FibroGen, Inc.(a)(b) |
22,441 | 291,957 | ||||||
|
Forma Therapeutics Holdings, Inc.(a) |
9,289 | 185,316 | ||||||
|
Generation Bio Co.(a)(b) |
21,073 | 111,898 | ||||||
|
Geron Corp.(a) |
98,833 | 231,269 | ||||||
|
Gilead Sciences, Inc. |
331,432 | 20,446,040 | ||||||
|
Global Blood Therapeutics, Inc.(a) |
16,132 | 1,098,589 | ||||||
|
Gossamer Bio, Inc.(a) |
12,244 | 146,683 | ||||||
|
Halozyme Therapeutics, Inc.(a)(b) |
35,951 | 1,421,503 | ||||||
|
Heron Therapeutics, Inc.(a) |
28,440 | 120,017 | ||||||
|
Horizon Therapeutics PLC(a) |
59,694 | 3,694,462 | ||||||
|
Ideaya Biosciences, Inc.(a) |
9,634 | 143,739 | ||||||
|
Imago Biosciences, Inc.(a)(b) |
7,391 | 111,235 | ||||||
|
ImmunityBio, Inc.(a)(b) |
21,871 | 108,699 | ||||||
|
ImmunoGen, Inc.(a) |
55,284 | 264,258 | ||||||
|
Incyte Corp.(a) |
49,360 | 3,289,350 | ||||||
|
Inhibrx, Inc.(a) |
7,653 | 137,371 | ||||||
|
Inovio Pharmaceuticals, Inc.(a)(b) |
62,941 | 108,573 | ||||||
|
Insmed, Inc.(a)(b) |
31,423 | 676,851 | ||||||
|
Instil Bio, Inc.(a)(b) |
18,980 | 91,863 | ||||||
|
Intellia Therapeutics, Inc.(a)(b) |
20,657 | 1,155,966 | ||||||
|
Intercept Pharmaceuticals, Inc.(a)(b) |
8,167 | 113,930 | ||||||
|
Ionis Pharmaceuticals, Inc.(a)(b) |
38,510 | 1,703,297 | ||||||
|
Iovance Biotherapeutics, Inc.(a) |
36,716 | 351,739 | ||||||
|
Ironwood Pharmaceuticals, Inc.(a) |
40,499 | 419,570 | ||||||
|
iTeos Therapeutics, Inc.(a) |
6,627 | 126,244 | ||||||
|
IVERIC bio, Inc.(a) |
30,340 | 544,300 | ||||||
|
KalVista Pharmaceuticals, Inc.(a) |
6,993 | 101,468 | ||||||
|
Karuna Therapeutics, Inc.(a) |
7,810 | 1,756,703 | ||||||
|
Karyopharm Therapeutics, Inc.(a) |
22,572 | 123,243 | ||||||
|
Keros Therapeutics, Inc.(a) |
4,121 | 155,032 | ||||||
|
Kiniksa Pharmaceuticals Ltd., Class A(a) |
11,564 | 148,482 | ||||||
|
Kinnate Biopharma, Inc.(a) |
8,628 | 103,105 | ||||||
|
Kodiak Sciences, Inc.(a) |
14,168 | 109,660 | ||||||
|
Krystal Biotech, Inc.(a) |
5,886 | 410,254 | ||||||
|
Kura Oncology, Inc.(a)(b) |
16,737 | 228,627 | ||||||
|
Kymera Therapeutics, Inc.(a)(b) |
9,811 | 213,585 | ||||||
|
Ligand Pharmaceuticals, Inc.(a) |
3,919 | 337,465 | ||||||
|
Lyell Immunopharma, Inc.(a)(b) |
38,933 | 285,379 | ||||||
|
Madrigal Pharmaceuticals, Inc.(a)(b) |
2,737 | 177,878 | ||||||
| Security | Shares | Value | ||||||
| Biotechnology (continued) | ||||||||
|
MannKind Corp.(a) |
60,244 | $ | 186,154 | |||||
|
Mersana Therapeutics, Inc.(a) |
22,348 | 151,072 | ||||||
|
MiMedx Group, Inc.(a) |
33,532 | 96,237 | ||||||
|
Mirati Therapeutics, Inc.(a) |
10,788 | 753,434 | ||||||
|
Mirum Pharmaceuticals, Inc.(a) |
6,027 | 126,627 | ||||||
|
Moderna, Inc.(a) |
89,734 | 10,611,045 | ||||||
|
Morphic Holding, Inc.(a) |
5,807 | 164,338 | ||||||
|
Myriad Genetics, Inc.(a) |
22,826 | 435,520 | ||||||
|
Natera, Inc.(a) |
21,724 | 951,946 | ||||||
|
Neurocrine Biosciences, Inc.(a) |
25,362 | 2,693,698 | ||||||
|
Nkarta, Inc.(a)(b) |
8,753 | 115,189 | ||||||
|
Novavax, Inc.(a)(b) |
19,642 | 357,484 | ||||||
|
Nurix Therapeutics, Inc.(a) |
10,624 | 138,431 | ||||||
|
Nuvalent, Inc., Class A(a)(b) |
6,017 | 116,970 | ||||||
|
Ocugen, Inc.(a)(b) |
48,321 | 86,011 | ||||||
|
PMV Pharmaceuticals, Inc.(a)(b) |
8,330 | 99,127 | ||||||
|
Point Biopharma Global, Inc.(a)(b) |
26,357 | 203,740 | ||||||
|
Precigen, Inc.(a) |
42,058 | 89,163 | ||||||
|
Prometheus Biosciences, Inc.(a) |
7,862 | 463,937 | ||||||
|
Protagonist Therapeutics, Inc.(a) |
16,356 | 137,881 | ||||||
|
Prothena Corp. PLC(a)(b) |
9,363 | 567,679 | ||||||
|
PTC Therapeutics, Inc.(a)(b) |
19,898 | 998,880 | ||||||
|
RAPT Therapeutics, Inc.(a) |
5,476 | 131,753 | ||||||
|
Recursion Pharmaceuticals, Inc., Class A(a)(b) |
30,255 | 321,913 | ||||||
|
Regeneron Pharmaceuticals, Inc.(a) |
27,343 | 18,835,772 | ||||||
|
REGENXBIO, Inc.(a) |
9,304 | 245,905 | ||||||
|
Relay Therapeutics, Inc.(a) |
20,053 | 448,586 | ||||||
|
Replimune Group, Inc.(a) |
14,438 | 249,344 | ||||||
|
REVOLUTION Medicines, Inc.(a) |
16,366 | 322,738 | ||||||
|
Rocket Pharmaceuticals, Inc.(a)(b) |
9,565 | 152,657 | ||||||
|
Sage Therapeutics, Inc.(a) |
13,589 | 532,145 | ||||||
|
Sana Biotechnology, Inc.(a)(b) |
22,666 | 135,996 | ||||||
|
Sangamo Therapeutics, Inc.(a) |
33,854 | 165,885 | ||||||
|
Sarepta Therapeutics, Inc.(a) |
22,686 | 2,507,710 | ||||||
|
Seagen, Inc.(a) |
36,141 | 4,945,173 | ||||||
|
Seres Therapeutics, Inc.(a)(b) |
18,278 | 117,345 | ||||||
|
Sorrento Therapeutics, Inc.(a)(b) |
126,581 | 198,732 | ||||||
|
SpringWorks Therapeutics, Inc.(a) |
7,153 | 204,075 | ||||||
|
Stoke Therapeutics, Inc.(a) |
7,795 | 100,088 | ||||||
|
Sutro Biopharma, Inc.(a) |
22,562 | 125,219 | ||||||
|
Syndax Pharmaceuticals, Inc.(a)(b) |
14,493 | 348,267 | ||||||
|
TG Therapeutics, Inc.(a) |
32,744 | 193,844 | ||||||
|
Travere Therapeutics, Inc.(a) |
16,926 | 417,057 | ||||||
|
Twist Bioscience Corp.(a)(b) |
15,147 | 533,780 | ||||||
|
Ultragenyx Pharmaceutical, Inc.(a) |
16,844 | 697,510 | ||||||
|
United Therapeutics Corp.(a) |
11,960 | 2,504,185 | ||||||
|
Vanda Pharmaceuticals, Inc.(a) |
14,967 | 147,874 | ||||||
|
Vaxart, Inc.(a)(b) |
53,858 | 117,410 | ||||||
|
Vaxcyte, Inc.(a) |
15,621 | 374,904 | ||||||
|
Veracyte, Inc.(a) |
17,472 | 290,035 | ||||||
|
Vericel Corp.(a) |
11,651 | 270,303 | ||||||
|
Vertex Pharmaceuticals, Inc.(a) |
67,707 | 19,603,885 | ||||||
|
Verve Therapeutics, Inc.(a) |
12,495 | 429,203 | ||||||
|
Vir Biotechnology, Inc.(a) |
20,174 | 388,955 | ||||||
|
Viridian Therapeutics, Inc.(a) |
11,608 | 238,080 | ||||||
|
Xencor, Inc.(a) |
14,994 | 389,544 | ||||||
|
Y-mAbs Therapeutics, Inc.(a)(b) |
7,180 | 103,536 | ||||||
|
Zentalis Pharmaceuticals, Inc.(a)(b) |
14,091 | 305,211 | ||||||
|
|
|
|||||||
| 258,933,871 | ||||||||
| Building Products — 0.6% | ||||||||
|
A O Smith Corp. |
33,497 | 1,627,284 | ||||||
|
AAON, Inc. |
10,594 | 570,805 | ||||||
| 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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Building Products (continued) | ||||||||
|
Advanced Drainage Systems, Inc. |
16,975 | $ | 2,111,181 | |||||
|
Allegion PLC |
23,173 | 2,078,155 | ||||||
|
American Woodmark Corp.(a) |
4,781 | 209,695 | ||||||
|
Apogee Enterprises, Inc. |
6,997 | 267,425 | ||||||
|
Armstrong World Industries, Inc. |
12,168 | 964,071 | ||||||
|
AZEK Co., Inc.(a)(b) |
28,772 | 478,191 | ||||||
|
Builders FirstSource, Inc.(a) |
40,766 | 2,401,933 | ||||||
|
Carlisle Cos., Inc. |
13,562 | 3,802,920 | ||||||
|
Carrier Global Corp. |
224,898 | 7,997,373 | ||||||
|
CSW Industrials, Inc. |
3,710 | 444,458 | ||||||
|
Fortune Brands Home & Security, Inc. |
34,492 | 1,851,875 | ||||||
|
Gibraltar Industries, Inc.(a) |
8,165 | 334,193 | ||||||
|
Griffon Corp. |
11,147 | 329,059 | ||||||
|
Hayward Holdings, Inc.(a)(b) |
18,887 | 167,528 | ||||||
|
Insteel Industries, Inc. |
4,301 | 114,105 | ||||||
|
Janus International Group, Inc.(a)(b) |
22,329 | 199,175 | ||||||
|
JELD-WEN Holding, Inc.(a) |
21,852 | 191,205 | ||||||
|
Johnson Controls International PLC |
183,230 | 9,018,581 | ||||||
|
Lennox International, Inc. |
8,477 | 1,887,574 | ||||||
|
Masco Corp. |
59,499 | 2,778,008 | ||||||
|
Masonite International Corp.(a)(b) |
6,222 | 443,566 | ||||||
|
Owens Corning |
25,076 | 1,971,224 | ||||||
|
PGT Innovations, Inc.(a) |
14,886 | 312,011 | ||||||
|
Quanex Building Products Corp. |
9,093 | 165,129 | ||||||
|
Resideo Technologies, Inc.(a) |
37,993 | 724,147 | ||||||
|
Simpson Manufacturing Co., Inc. |
11,656 | 913,830 | ||||||
|
Trane Technologies PLC |
61,027 | 8,837,320 | ||||||
|
Trex Co., Inc.(a)(b) |
30,372 | 1,334,546 | ||||||
|
UFP Industries, Inc. |
16,391 | 1,182,774 | ||||||
|
Zurn Elkay Water Solutions Corp.(b) |
32,974 | 807,863 | ||||||
|
|
|
|||||||
| 56,517,204 | ||||||||
| Capital Markets — 3.1% | ||||||||
|
Affiliated Managers Group, Inc. |
10,047 | 1,123,757 | ||||||
|
Ameriprise Financial, Inc. |
28,417 | 7,159,663 | ||||||
|
Ares Management Corp., Class A |
39,703 | 2,459,601 | ||||||
|
Artisan Partners Asset Management, Inc., Class A |
14,977 | 403,331 | ||||||
|
AssetMark Financial Holdings, Inc.(a) |
6,413 | 117,294 | ||||||
|
B Riley Financial, Inc. |
5,794 | 257,949 | ||||||
|
Bank of New York Mellon Corp. |
193,336 | 7,447,303 | ||||||
|
BGC Partners, Inc., Class A |
87,616 | 275,114 | ||||||
|
BlackRock, Inc.(c) |
39,659 | 21,823,555 | ||||||
|
Blackstone, Inc., NVS |
185,278 | 15,507,769 | ||||||
|
Blucora, Inc.(a) |
13,196 | 255,211 | ||||||
|
Blue Owl Capital, Inc. |
107,115 | 988,671 | ||||||
|
Brightsphere Investment Group, Inc. |
8,564 | 127,689 | ||||||
|
Carlyle Group, Inc. |
54,004 | 1,395,463 | ||||||
|
Cboe Global Markets, Inc. |
28,168 | 3,306,078 | ||||||
|
Charles Schwab Corp. |
402,205 | 28,906,473 | ||||||
|
CME Group, Inc. |
94,986 | 16,824,870 | ||||||
|
Cohen & Steers, Inc. |
6,116 | 383,045 | ||||||
|
Coinbase Global, Inc., Class A(a)(b) |
41,256 | 2,660,599 | ||||||
|
Cowen, Inc., Class A |
6,191 | 239,220 | ||||||
|
Diamond Hill Investment Group, Inc. |
689 | 113,685 | ||||||
|
Donnelley Financial Solutions, Inc.(a) |
6,473 | 239,307 | ||||||
|
Evercore, Inc., Class A |
9,543 | 784,912 | ||||||
|
FactSet Research Systems, Inc. |
10,078 | 4,032,309 | ||||||
|
Federated Hermes, Inc. |
23,726 | 785,805 | ||||||
|
Focus Financial Partners, Inc., Class A(a) |
15,629 | 492,470 | ||||||
|
Franklin Resources, Inc. |
75,815 | 1,631,539 | ||||||
|
GCM Grosvenor, Inc., Class A |
13,071 | 103,130 | ||||||
|
Goldman Sachs Group, Inc. |
87,497 | 25,640,996 | ||||||
|
Hamilton Lane, Inc., Class A |
9,362 | 558,069 | ||||||
| Security | Shares | Value | ||||||
| Capital Markets (continued) | ||||||||
|
Houlihan Lokey, Inc. |
13,840 | $ | 1,043,259 | |||||
|
Interactive Brokers Group, Inc., Class A |
24,202 | 1,546,750 | ||||||
|
Intercontinental Exchange, Inc. |
146,403 | 13,227,511 | ||||||
|
Invesco Ltd. |
100,496 | 1,376,795 | ||||||
|
Janus Henderson Group PLC |
38,691 | 785,814 | ||||||
|
Jefferies Financial Group, Inc. |
53,816 | 1,587,572 | ||||||
|
KKR & Co., Inc. |
151,907 | 6,532,001 | ||||||
|
Lazard Ltd., Class A |
23,829 | 758,477 | ||||||
|
LPL Financial Holdings, Inc.(b) |
21,033 | 4,595,290 | ||||||
|
MarketAxess Holdings, Inc. |
10,031 | 2,231,797 | ||||||
|
Moelis & Co., Class A |
16,459 | 556,479 | ||||||
|
Moody’s Corp. |
42,294 | 10,282,094 | ||||||
|
Morgan Stanley |
329,073 | 26,000,058 | ||||||
|
Morningstar, Inc. |
6,337 | 1,345,472 | ||||||
|
MSCI, Inc., Class A |
20,927 | 8,826,799 | ||||||
|
Nasdaq, Inc. |
90,231 | 5,114,293 | ||||||
|
Northern Trust Corp. |
54,254 | 4,641,972 | ||||||
|
Open Lending Corp., Class A(a) |
26,990 | 217,000 | ||||||
|
Perella Weinberg Partners |
19,000 | 120,270 | ||||||
|
Piper Sandler Cos |
4,979 | 521,501 | ||||||
|
PJT Partners, Inc., Class A |
6,352 | 424,441 | ||||||
|
Raymond James Financial, Inc. |
51,452 | 5,084,487 | ||||||
|
Robinhood Markets, Inc., Class A(a)(b) |
148,921 | 1,504,102 | ||||||
|
S&P Global, Inc. |
88,352 | 26,978,283 | ||||||
|
SEI Investments Co. |
26,989 | 1,323,810 | ||||||
|
State Street Corp. |
96,511 | 5,868,834 | ||||||
|
StepStone Group, Inc., Class A |
15,143 | 371,155 | ||||||
|
Stifel Financial Corp. |
26,162 | 1,358,069 | ||||||
|
StoneX Group, Inc.(a) |
5,315 | 440,826 | ||||||
|
T Rowe Price Group, Inc. |
59,364 | 6,233,814 | ||||||
|
Tradeweb Markets, Inc., Class A |
27,746 | 1,565,429 | ||||||
|
Victory Capital Holdings, Inc., Class A |
4,364 | 101,725 | ||||||
|
Virtu Financial, Inc., Class A |
27,878 | 579,026 | ||||||
|
Virtus Investment Partners, Inc. |
1,731 | 276,129 | ||||||
|
WisdomTree Investments, Inc. |
39,480 | 184,766 | ||||||
|
|
|
|||||||
| 289,650,977 | ||||||||
| Chemicals — 1.8% | ||||||||
|
AdvanSix, Inc. |
7,904 | 253,718 | ||||||
|
Air Products and Chemicals, Inc. |
58,519 | 13,619,127 | ||||||
|
Albemarle Corp. |
31,053 | 8,211,655 | ||||||
|
American Vanguard Corp.(b) |
8,852 | 165,532 | ||||||
|
Amyris, Inc.(a)(b) |
44,133 | 128,868 | ||||||
|
Ashland, Inc. |
13,688 | 1,299,949 | ||||||
|
Avient Corp. |
23,110 | 700,233 | ||||||
|
Axalta Coating Systems Ltd.(a)(b) |
55,898 | 1,177,212 | ||||||
|
Balchem Corp.(b) |
8,186 | 995,254 | ||||||
|
Cabot Corp. |
14,168 | 905,194 | ||||||
|
Celanese Corp. |
28,728 | 2,595,288 | ||||||
|
CF Industries Holdings, Inc. |
52,505 | 5,053,606 | ||||||
|
Chase Corp. |
2,295 | 191,793 | ||||||
|
Chemours Co. |
41,607 | 1,025,613 | ||||||
|
Corteva, Inc. |
190,813 | 10,904,963 | ||||||
|
Diversey Holdings Ltd.(a)(b) |
20,825 | 101,210 | ||||||
|
Dow, Inc. |
190,737 | 8,379,076 | ||||||
|
DuPont de Nemours, Inc. |
133,633 | 6,735,103 | ||||||
|
Eastman Chemical Co. |
33,278 | 2,364,402 | ||||||
|
Ecolab, Inc. |
65,439 | 9,450,700 | ||||||
|
Ecovyst, Inc.(a) |
12,081 | 101,964 | ||||||
|
Element Solutions, Inc. |
59,142 | 962,240 | ||||||
|
FMC Corp. |
32,866 | 3,473,936 | ||||||
|
Ginkgo Bioworks Holdings, Inc.(a)(b) |
237,749 | 741,777 | ||||||
|
Hawkins, Inc. |
4,496 | 175,299 | ||||||
|
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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Chemicals (continued) | ||||||||
|
HB Fuller Co. |
13,574 | $ | 815,797 | |||||
|
Huntsman Corp. |
50,969 | 1,250,779 | ||||||
|
Ingevity Corp.(a) |
11,207 | 679,480 | ||||||
|
Innospec, Inc. |
6,535 | 559,853 | ||||||
|
International Flavors & Fragrances, Inc. |
67,349 | 6,117,310 | ||||||
|
Intrepid Potash, Inc.(a)(b) |
2,903 | 114,872 | ||||||
|
Koppers Holdings, Inc. |
5,224 | 108,555 | ||||||
|
Linde PLC |
132,501 | 35,720,945 | ||||||
|
Livent Corp.(a) |
44,222 | 1,355,404 | ||||||
|
LSB Industries, Inc.(a) |
8,307 | 118,375 | ||||||
|
LyondellBasell Industries NV, Class A |
68,526 | 5,158,637 | ||||||
|
Mativ Holdings, Inc. |
13,982 | 308,723 | ||||||
|
Minerals Technologies, Inc.(b) |
9,749 | 481,698 | ||||||
|
Mosaic Co. |
91,224 | 4,408,856 | ||||||
|
NewMarket Corp. |
1,518 | 456,660 | ||||||
|
Olin Corp. |
36,550 | 1,567,264 | ||||||
|
Origin Materials, Inc.(a)(b) |
32,176 | 166,028 | ||||||
|
Orion Engineered Carbons SA |
16,048 | 214,241 | ||||||
|
Perimeter Solutions SA(a) |
38,642 | 309,522 | ||||||
|
PPG Industries, Inc. |
62,781 | 6,949,229 | ||||||
|
PureCycle Technologies, Inc.(a)(b) |
27,855 | 224,790 | ||||||
|
Quaker Chemical Corp. |
3,562 | 514,282 | ||||||
|
RPM International, Inc. |
33,313 | 2,775,306 | ||||||
|
Scotts Miracle-Gro Co., Class A |
10,768 | 460,332 | ||||||
|
Sensient Technologies Corp. |
11,460 | 794,636 | ||||||
|
Sherwin-Williams Co. |
63,407 | 12,982,583 | ||||||
|
Stepan Co. |
6,128 | 574,010 | ||||||
|
Tredegar Corp. |
11,456 | 108,145 | ||||||
|
Trinseo PLC |
9,843 | 180,324 | ||||||
|
Tronox Holdings PLC |
27,067 | 331,571 | ||||||
|
Valvoline, Inc. |
46,721 | 1,183,910 | ||||||
|
Westlake Corp. |
9,079 | 788,784 | ||||||
|
|
|
|||||||
| 167,494,613 | ||||||||
| Commercial Services & Supplies — 0.6% | ||||||||
|
ABM Industries, Inc. |
17,599 | 672,810 | ||||||
|
ACCO Brands Corp. |
27,889 | 136,656 | ||||||
|
ACV Auctions, Inc., Class A(a)(b) |
33,687 | 242,209 | ||||||
|
Brady Corp., Class A, NVS |
12,771 | 532,934 | ||||||
|
BrightView Holdings, Inc.(a) |
13,981 | 111,009 | ||||||
|
Brink’s Co. |
13,363 | 647,304 | ||||||
|
Casella Waste Systems, Inc., Class A(a) |
13,334 | 1,018,584 | ||||||
|
Cimpress PLC(a) |
4,469 | 109,401 | ||||||
|
Cintas Corp. |
22,512 | 8,738,933 | ||||||
|
Clean Harbors, Inc.(a) |
13,539 | 1,489,019 | ||||||
|
Copart, Inc.(a) |
56,667 | 6,029,369 | ||||||
|
CoreCivic, Inc.(a) |
30,682 | 271,229 | ||||||
|
Deluxe Corp. |
10,934 | 182,051 | ||||||
|
Driven Brands Holdings, Inc.(a) |
12,866 | 359,991 | ||||||
|
Ennis, Inc. |
6,537 | 131,590 | ||||||
|
GEO Group, Inc.(a) |
33,696 | 259,459 | ||||||
|
Harsco Corp.(a) |
22,923 | 85,732 | ||||||
|
Healthcare Services Group, Inc. |
20,305 | 245,487 | ||||||
|
Heritage-Crystal Clean, Inc.(a) |
5,258 | 155,479 | ||||||
|
HNI Corp. |
11,727 | 310,883 | ||||||
|
IAA, Inc.(a) |
36,379 | 1,158,671 | ||||||
|
Interface, Inc. |
14,485 | 130,220 | ||||||
|
KAR Auction Services, Inc.(a) |
28,611 | 319,585 | ||||||
|
Li-Cycle Holdings Corp.(a)(b) |
36,309 | 193,164 | ||||||
|
Matthews International Corp., Class A |
7,951 | 178,182 | ||||||
|
MillerKnoll, Inc. |
21,116 | 329,410 | ||||||
|
Montrose Environmental Group, Inc.(a)(b) |
5,781 | 194,531 | ||||||
|
MSA Safety, Inc. |
9,671 | 1,056,847 | ||||||
| Security | Shares | Value | ||||||
| Commercial Services & Supplies (continued) | ||||||||
|
Republic Services, Inc. |
51,731 | $ | 7,037,485 | |||||
|
Rollins, Inc. |
60,966 | 2,114,301 | ||||||
|
SP Plus Corp.(a) |
5,979 | 187,262 | ||||||
|
Steelcase, Inc., Class A |
25,338 | 165,204 | ||||||
|
Stericycle, Inc.(a) |
24,137 | 1,016,409 | ||||||
|
Tetra Tech, Inc. |
14,286 | 1,836,180 | ||||||
|
UniFirst Corp. |
4,131 | 694,958 | ||||||
|
Viad Corp.(a) |
5,056 | 159,668 | ||||||
|
VSE Corp. |
2,979 | 105,457 | ||||||
|
Waste Management, Inc. |
107,585 | 17,236,193 | ||||||
|
|
|
|||||||
| 55,843,856 | ||||||||
| Communications Equipment — 0.8% | ||||||||
|
ADTRAN Holdings, Inc. |
18,578 | 363,757 | ||||||
|
Arista Networks, Inc.(a) |
65,231 | 7,363,928 | ||||||
|
Calix, Inc.(a) |
14,427 | 882,067 | ||||||
|
Ciena Corp.(a) |
40,172 | 1,624,154 | ||||||
|
Cisco Systems, Inc. |
1,101,344 | 44,053,760 | ||||||
|
Clearfield, Inc.(a) |
3,419 | 357,764 | ||||||
|
CommScope Holding Co., Inc.(a)(b) |
50,283 | 463,106 | ||||||
|
Digi International, Inc.(a) |
11,323 | 391,436 | ||||||
|
Extreme Networks, Inc.(a) |
29,252 | 382,324 | ||||||
|
F5, Inc.(a) |
15,790 | 2,285,287 | ||||||
|
Harmonic, Inc.(a)(b) |
25,120 | 328,318 | ||||||
|
Infinera Corp.(a)(b) |
53,225 | 257,609 | ||||||
|
Inseego Corp.(a)(b) |
50,545 | 104,628 | ||||||
|
Juniper Networks, Inc. |
84,377 | 2,203,927 | ||||||
|
Lumentum Holdings, Inc.(a)(b) |
19,090 | 1,309,001 | ||||||
|
Motorola Solutions, Inc. |
43,552 | 9,754,342 | ||||||
|
NETGEAR, Inc.(a) |
8,788 | 176,112 | ||||||
|
NetScout Systems, Inc.(a) |
16,622 | 520,601 | ||||||
|
Ubiquiti, Inc.(b) |
1,451 | 425,956 | ||||||
|
Viasat, Inc.(a)(b) |
17,770 | 537,187 | ||||||
|
Viavi Solutions, Inc.(a) |
64,128 | 836,870 | ||||||
|
|
|
|||||||
| 74,622,134 | ||||||||
| Construction & Engineering — 0.2% | ||||||||
|
AECOM |
34,517 | 2,359,927 | ||||||
|
Ameresco, Inc., Class A(a)(b) |
7,280 | 483,975 | ||||||
|
API Group Corp.(a) |
52,029 | 690,425 | ||||||
|
Arcosa, Inc. |
12,843 | 734,363 | ||||||
|
Argan, Inc. |
3,857 | 124,080 | ||||||
|
Comfort Systems USA, Inc. |
9,108 | 886,482 | ||||||
|
Construction Partners, Inc., Class A(a) |
8,910 | 233,709 | ||||||
|
Dycom Industries, Inc.(a) |
7,193 | 687,147 | ||||||
|
EMCOR Group, Inc. |
13,317 | 1,537,847 | ||||||
|
Fluor Corp.(a) |
39,161 | 974,717 | ||||||
|
Granite Construction, Inc. |
13,428 | 340,937 | ||||||
|
Great Lakes Dredge & Dock Corp.(a)(b) |
14,772 | 111,972 | ||||||
|
Infrastructure and Energy Alternatives, Inc.(a) |
7,980 | 108,049 | ||||||
|
MasTec, Inc.(a) |
15,048 | 955,548 | ||||||
|
MDU Resources Group, Inc. |
52,351 | 1,431,800 | ||||||
|
MYR Group, Inc.(a) |
4,920 | 416,872 | ||||||
|
Northwest Pipe Co.(a) |
4,016 | 112,850 | ||||||
|
NV5 Global, Inc.(a) |
3,698 | 457,886 | ||||||
|
Primoris Services Corp. |
15,672 | 254,670 | ||||||
|
Quanta Services, Inc. |
37,201 | 4,739,035 | ||||||
|
Sterling Infrastructure, Inc.(a)(b) |
6,808 | 146,168 | ||||||
|
Valmont Industries, Inc. |
5,531 | 1,485,737 | ||||||
|
WillScot Mobile Mini Holdings Corp.(a) |
56,998 | 2,298,729 | ||||||
|
|
|
|||||||
| 21,572,925 | ||||||||
| Construction Materials — 0.1% | ||||||||
|
Eagle Materials, Inc. |
10,429 | 1,117,780 | ||||||
| 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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Construction Materials (continued) | ||||||||
|
Martin Marietta Materials, Inc. |
16,404 | $ | 5,283,565 | |||||
|
Summit Materials, Inc., Class A(a)(b) |
32,043 | 767,750 | ||||||
|
Vulcan Materials Co. |
34,277 | 5,405,826 | ||||||
|
|
|
|||||||
| 12,574,921 | ||||||||
| Consumer Finance — 0.5% | ||||||||
|
Ally Financial, Inc. |
82,451 | 2,294,611 | ||||||
|
American Express Co. |
159,069 | 21,459,999 | ||||||
|
Bread Financial Holdings, Inc. |
12,814 | 403,000 | ||||||
|
Capital One Financial Corp. |
100,905 | 9,300,414 | ||||||
|
Credit Acceptance Corp.(a)(b) |
1,831 | 801,978 | ||||||
|
Discover Financial Services |
72,556 | 6,596,792 | ||||||
|
Encore Capital Group, Inc.(a)(b) |
6,537 | 297,303 | ||||||
|
Enova International, Inc.(a) |
10,093 | 295,422 | ||||||
|
EZCORP, Inc., Class A, NVS(a) |
14,005 | 107,979 | ||||||
|
FirstCash Holdings, Inc. |
9,789 | 718,023 | ||||||
|
Green Dot Corp., Class A(a) |
14,236 | 270,199 | ||||||
|
LendingClub Corp.(a) |
25,821 | 285,322 | ||||||
|
LendingTree, Inc.(a) |
3,884 | 92,672 | ||||||
|
Navient Corp. |
31,953 | 469,390 | ||||||
|
Nelnet, Inc., Class A(b) |
3,252 | 257,526 | ||||||
|
NerdWallet, Inc., Class A(a)(b) |
11,840 | 105,021 | ||||||
|
OneMain Holdings, Inc. |
29,618 | 874,323 | ||||||
|
PRA Group, Inc.(a) |
9,597 | 315,357 | ||||||
|
PROG Holdings, Inc.(a) |
14,721 | 220,521 | ||||||
|
Regional Management Corp. |
3,397 | 95,252 | ||||||
|
SLM Corp. |
65,169 | 911,714 | ||||||
|
SoFi Technologies, Inc.(a)(b) |
214,875 | 1,048,590 | ||||||
|
Synchrony Financial |
127,200 | 3,585,768 | ||||||
|
Upstart Holdings, Inc.(a)(b) |
20,256 | 421,122 | ||||||
|
World Acceptance Corp.(a) |
988 | 95,658 | ||||||
|
|
|
|||||||
| 51,323,956 | ||||||||
| Containers & Packaging — 0.4% | ||||||||
|
Amcor PLC |
395,499 | 4,243,704 | ||||||
|
AptarGroup, Inc. |
17,119 | 1,626,819 | ||||||
|
Ardagh Group SA(a) |
4,919 | 42,020 | ||||||
|
Ardagh Metal Packaging SA |
41,863 | 202,617 | ||||||
|
Avery Dennison Corp. |
21,722 | 3,534,169 | ||||||
|
Ball Corp. |
82,967 | 4,008,965 | ||||||
|
Berry Global Group, Inc.(a) |
33,032 | 1,536,979 | ||||||
|
Crown Holdings, Inc. |
31,255 | 2,532,593 | ||||||
|
Graphic Packaging Holding Co. |
78,823 | 1,555,966 | ||||||
|
Greif, Inc. |
2,003 | 121,782 | ||||||
|
Greif, Inc., Class A, NVS |
6,345 | 377,972 | ||||||
|
International Paper Co. |
94,968 | 3,010,486 | ||||||
|
Myers Industries, Inc. |
9,746 | 160,517 | ||||||
|
O-I Glass, Inc.(a) |
43,793 | 567,119 | ||||||
|
Packaging Corp. of America |
24,856 | 2,791,080 | ||||||
|
Pactiv Evergreen, Inc. |
10,623 | 92,739 | ||||||
|
Sealed Air Corp. |
38,411 | 1,709,674 | ||||||
|
Silgan Holdings, Inc. |
22,126 | 930,177 | ||||||
|
Sonoco Products Co. |
26,163 | 1,484,227 | ||||||
|
TriMas Corp. |
9,895 | 248,068 | ||||||
|
Westrock Co. |
67,763 | 2,093,199 | ||||||
|
|
|
|||||||
| 32,870,872 | ||||||||
| Distributors — 0.1% | ||||||||
|
Funko, Inc., Class A(a) |
6,433 | 130,075 | ||||||
|
Genuine Parts Co. |
36,717 | 5,482,582 | ||||||
|
LKQ Corp. |
69,618 | 3,282,489 | ||||||
|
Pool Corp. |
10,276 | 3,269,926 | ||||||
|
|
|
|||||||
| 12,165,072 | ||||||||
| Security | Shares | Value | ||||||
| Diversified Consumer Services — 0.1% | ||||||||
|
2U, Inc.(a)(b) |
18,603 | $ | 116,269 | |||||
|
ADT, Inc. |
69,954 | 523,955 | ||||||
|
Adtalem Global Education, Inc.(a) |
12,793 | 466,305 | ||||||
|
Bright Horizons Family Solutions, Inc.(a) |
16,360 | 943,154 | ||||||
|
Carriage Services, Inc. |
3,922 | 126,131 | ||||||
|
Chegg, Inc.(a) |
32,202 | 678,496 | ||||||
|
Coursera, Inc.(a)(b) |
34,958 | 376,847 | ||||||
|
Duolingo, Inc.(a)(b) |
6,486 | 617,662 | ||||||
|
European Wax Center, Inc., Class A |
5,886 | 108,597 | ||||||
|
Frontdoor, Inc.(a) |
22,920 | 467,339 | ||||||
|
Graham Holdings Co., Class B |
1,034 | 556,271 | ||||||
|
Grand Canyon Education, Inc.(a) |
8,087 | 665,156 | ||||||
|
H&R Block, Inc. |
41,669 | 1,772,599 | ||||||
|
Laureate Education, Inc. |
25,027 | 264,035 | ||||||
|
Mister Car Wash, Inc.(a)(b) |
20,291 | 174,097 | ||||||
|
OneSpaWorld Holdings Ltd.(a)(b) |
12,241 | 102,824 | ||||||
|
Perdoceo Education Corp.(a) |
20,257 | 208,647 | ||||||
|
PowerSchool Holdings, Inc., Class A(a) |
11,310 | 188,764 | ||||||
|
Rover Group, Inc.(a)(b) |
32,872 | 109,792 | ||||||
|
Service Corp. International |
40,267 | 2,325,017 | ||||||
|
Strategic Education, Inc. |
5,922 | 363,670 | ||||||
|
Stride, Inc.(a) |
11,199 | 470,694 | ||||||
|
Terminix Global Holdings, Inc.(a) |
32,978 | 1,262,728 | ||||||
|
Udemy, Inc.(a) |
22,431 | 271,191 | ||||||
|
Vivint Smart Home, Inc.(a) |
18,862 | 124,112 | ||||||
|
|
|
|||||||
| 13,284,352 | ||||||||
| Diversified Financial Services — 1.5% | ||||||||
|
Alerus Financial Corp. |
5,608 | 123,937 | ||||||
|
A-Mark Precious Metals, Inc. |
5,168 | 146,720 | ||||||
|
Apollo Global Management, Inc. |
120,924 | 5,622,966 | ||||||
|
Banco Latinoamericano de Comercio Exterior SA, Class E |
10,950 | 143,007 | ||||||
|
Berkshire Hathaway, Inc., Class B(a) |
475,827 | 127,055,326 | ||||||
|
Cannae Holdings, Inc.(a)(b) |
22,281 | 460,325 | ||||||
|
Compass Diversified Holdings |
14,456 | 261,075 | ||||||
|
Equitable Holdings, Inc. |
101,095 | 2,663,853 | ||||||
|
Jackson Financial, Inc., Class A |
20,062 | 556,720 | ||||||
|
Voya Financial, Inc. |
23,320 | 1,410,860 | ||||||
|
|
|
|||||||
| 138,444,789 | ||||||||
| Diversified Telecommunication Services — 0.8% | ||||||||
|
Anterix, Inc.(a) |
6,570 | 234,680 | ||||||
|
AT&T Inc. |
1,895,679 | 29,079,716 | ||||||
|
ATN International, Inc. |
3,079 | 118,757 | ||||||
|
Bandwidth, Inc., Class A(a) |
8,546 | 101,697 | ||||||
|
Charge Enterprises, Inc.(a)(b) |
60,908 | 107,198 | ||||||
|
Cogent Communications Holdings, Inc. |
11,596 | 604,847 | ||||||
|
Consolidated Communications Holdings, Inc.(a) |
20,854 | 86,753 | ||||||
|
EchoStar Corp., Class A(a)(b) |
9,733 | 160,303 | ||||||
|
Frontier Communications Parent, Inc.(a)(b) |
63,352 | 1,484,337 | ||||||
|
Globalstar, Inc.(a) |
164,181 | 261,048 | ||||||
|
IDT Corp., Class B(a) |
5,275 | 130,978 | ||||||
|
Iridium Communications, Inc.(a) |
31,778 | 1,409,990 | ||||||
|
Liberty Latin America Ltd., Class C(a) |
41,510 | 255,287 | ||||||
|
Lumen Technologies, Inc. |
269,537 | 1,962,229 | ||||||
|
Radius Global Infrastructure, Inc., Class A(a)(b) |
22,335 | 210,396 | ||||||
|
Verizon Communications, Inc. |
1,113,903 | 42,294,897 | ||||||
|
|
|
|||||||
| 78,503,113 | ||||||||
| Electric Utilities — 1.8% | ||||||||
|
ALLETE, Inc. |
18,798 | 940,840 | ||||||
|
Alliant Energy Corp. |
65,935 | 3,493,896 | ||||||
|
American Electric Power Co., Inc. |
135,712 | 11,732,302 | ||||||
|
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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Electric Utilities (continued) | ||||||||
|
Avangrid, Inc. |
18,845 | $ | 785,837 | |||||
|
Constellation Energy Corp. |
86,426 | 7,189,779 | ||||||
|
Duke Energy Corp. |
203,308 | 18,911,710 | ||||||
|
Edison International |
100,691 | 5,697,097 | ||||||
|
Entergy Corp. |
53,350 | 5,368,610 | ||||||
|
Evergy, Inc. |
59,844 | 3,554,734 | ||||||
|
Eversource Energy |
91,237 | 7,112,837 | ||||||
|
Exelon Corp. |
261,490 | 9,795,415 | ||||||
|
FirstEnergy Corp. |
142,530 | 5,273,610 | ||||||
|
Hawaiian Electric Industries, Inc. |
29,333 | 1,016,682 | ||||||
|
IDACORP, Inc. |
12,984 | 1,285,546 | ||||||
|
MGE Energy, Inc. |
9,534 | 625,716 | ||||||
|
NextEra Energy, Inc. |
519,035 | 40,697,534 | ||||||
|
NRG Energy, Inc. |
61,655 | 2,359,537 | ||||||
|
OGE Energy Corp. |
51,976 | 1,895,045 | ||||||
|
Otter Tail Corp. |
10,615 | 653,035 | ||||||
|
PG&E Corp.(a)(b) |
415,491 | 5,193,637 | ||||||
|
Pinnacle West Capital Corp. |
29,446 | 1,899,561 | ||||||
|
PNM Resources, Inc. |
25,489 | 1,165,612 | ||||||
|
Portland General Electric Co. |
24,260 | 1,054,340 | ||||||
|
PPL Corp. |
195,008 | 4,943,453 | ||||||
|
Southern Co. |
276,929 | 18,831,172 | ||||||
|
Xcel Energy, Inc. |
141,346 | 9,046,144 | ||||||
|
|
|
|||||||
| 170,523,681 | ||||||||
| Electrical Equipment — 0.7% | ||||||||
|
Acuity Brands, Inc. |
8,585 | 1,351,880 | ||||||
|
AMETEK, Inc. |
60,784 | 6,893,514 | ||||||
|
Array Technologies, Inc.(a) |
41,364 | 685,815 | ||||||
|
Atkore, Inc.(a) |
10,789 | 839,492 | ||||||
|
AZZ, Inc. |
6,759 | 246,771 | ||||||
|
Babcock & Wilcox Enterprises, Inc.(a)(b) |
17,347 | 110,674 | ||||||
|
Blink Charging Co.(a)(b) |
9,967 | 176,615 | ||||||
|
Bloom Energy Corp., Class A(a)(b) |
43,615 | 871,864 | ||||||
|
ChargePoint Holdings, Inc.(a)(b) |
67,959 | 1,003,075 | ||||||
|
Eaton Corp. PLC |
105,376 | 14,052,943 | ||||||
|
Emerson Electric Co. |
156,054 | 11,426,274 | ||||||
|
Encore Wire Corp. |
5,113 | 590,756 | ||||||
|
EnerSys |
11,543 | 671,456 | ||||||
|
Enovix Corp.(a)(b) |
30,501 | 559,236 | ||||||
|
ESS Tech, Inc.(a) |
32,218 | 131,772 | ||||||
|
Fluence Energy, Inc.(a)(b) |
8,969 | 130,858 | ||||||
|
FuelCell Energy, Inc.(a)(b) |
101,061 | 344,618 | ||||||
|
Generac Holdings, Inc.(a)(b) |
16,609 | 2,958,727 | ||||||
|
GrafTech International Ltd. |
57,328 | 247,084 | ||||||
|
Hubbell, Inc. |
14,101 | 3,144,523 | ||||||
|
NuScale Power Corp.(a)(b) |
10,319 | 120,526 | ||||||
|
nVent Electric PLC |
44,374 | 1,402,662 | ||||||
|
Plug Power, Inc.(a)(b) |
135,336 | 2,843,409 | ||||||
|
Regal Rexnord Corp. |
18,240 | 2,560,167 | ||||||
|
Rockwell Automation, Inc. |
30,654 | 6,593,982 | ||||||
|
Sensata Technologies Holding PLC |
40,557 | 1,511,965 | ||||||
|
Shoals Technologies Group, Inc., Class A(a)(b) |
27,440 | 591,332 | ||||||
|
Stem, Inc.(a) |
42,548 | 567,590 | ||||||
|
SunPower Corp.(a)(b) |
19,824 | 456,745 | ||||||
|
Sunrun, Inc.(a)(b) |
52,648 | 1,452,558 | ||||||
|
Thermon Group Holdings, Inc.(a) |
8,790 | 135,454 | ||||||
|
TPI Composites, Inc.(a) |
7,812 | 88,119 | ||||||
|
Vertiv Holdings Co.(b) |
84,911 | 825,335 | ||||||
|
Vicor Corp.(a) |
5,565 | 329,114 | ||||||
|
|
|
|||||||
| 65,916,905 | ||||||||
| Electronic Equipment, Instruments & Components — 0.7% | ||||||||
|
908 Devices, Inc.(a)(b) |
7,945 | 130,695 | ||||||
| Security | Shares | Value | ||||||
| Electronic Equipment, Instruments & Components (continued) | ||||||||
|
Advanced Energy Industries, Inc. |
10,744 | $ | 831,693 | |||||
|
Akoustis Technologies, Inc.(a) |
33,837 | 100,496 | ||||||
|
Amphenol Corp., Class A |
155,295 | 10,398,553 | ||||||
|
Arlo Technologies, Inc.(a) |
21,770 | 101,013 | ||||||
|
Arrow Electronics, Inc.(a) |
16,534 | 1,524,269 | ||||||
|
Avnet, Inc. |
26,872 | 970,617 | ||||||
|
Badger Meter, Inc. |
7,232 | 668,164 | ||||||
|
Belden, Inc. |
11,251 | 675,285 | ||||||
|
Benchmark Electronics, Inc. |
10,690 | 264,898 | ||||||
|
CDW Corp. |
35,921 | 5,606,550 | ||||||
|
Cognex Corp. |
45,395 | 1,881,623 | ||||||
|
Coherent Corp.(a) |
33,884 | 1,180,857 | ||||||
|
Corning, Inc. |
199,364 | 5,785,543 | ||||||
|
CTS Corp. |
8,318 | 346,445 | ||||||
|
ePlus, Inc.(a) |
7,628 | 316,867 | ||||||
|
Fabrinet(a) |
9,479 | 904,771 | ||||||
|
FARO Technologies, Inc.(a) |
4,226 | 115,961 | ||||||
|
Insight Enterprises, Inc.(a) |
8,900 | 733,449 | ||||||
|
IPG Photonics Corp.(a) |
9,440 | 796,264 | ||||||
|
Itron, Inc.(a) |
11,846 | 498,835 | ||||||
|
Jabil, Inc. |
35,742 | 2,062,671 | ||||||
|
Keysight Technologies, Inc.(a) |
47,594 | 7,489,392 | ||||||
|
Kimball Electronics, Inc.(a) |
6,064 | 103,998 | ||||||
|
Knowles Corp.(a) |
26,198 | 318,830 | ||||||
|
Lightwave Logic, Inc.(a) |
31,791 | 233,346 | ||||||
|
Littelfuse, Inc.(b) |
6,319 | 1,255,522 | ||||||
|
Methode Electronics, Inc. |
9,332 | 346,684 | ||||||
|
MicroVision, Inc.(a)(b) |
41,914 | 151,310 | ||||||
|
Mirion Technologies, Inc.(a) |
42,777 | 319,544 | ||||||
|
Napco Security Technologies, Inc.(a) |
7,658 | 222,695 | ||||||
|
National Instruments Corp. |
35,163 | 1,327,052 | ||||||
|
nLight, Inc.(a) |
10,949 | 103,468 | ||||||
|
Novanta, Inc.(a) |
9,006 | 1,041,544 | ||||||
|
OSI Systems, Inc.(a) |
4,916 | 354,247 | ||||||
|
PAR Technology Corp.(a)(b) |
7,476 | 220,766 | ||||||
|
PC Connection, Inc. |
3,002 | 135,360 | ||||||
|
Plexus Corp.(a) |
7,492 | 655,999 | ||||||
|
Rogers Corp.(a) |
5,031 | 1,216,898 | ||||||
|
Sanmina Corp.(a) |
14,082 | 648,899 | ||||||
|
ScanSource, Inc.(a) |
6,807 | 179,773 | ||||||
|
SmartRent, Inc.(a) |
38,632 | 87,695 | ||||||
|
TD SYNNEX Corp. |
10,991 | 892,359 | ||||||
|
Teledyne Technologies, Inc.(a) |
12,201 | 4,117,471 | ||||||
|
Trimble, Inc.(a) |
67,354 | 3,655,302 | ||||||
|
TTM Technologies, Inc.(a) |
24,207 | 319,048 | ||||||
|
Vishay Intertechnology, Inc. |
32,481 | 577,837 | ||||||
|
Vontier Corp. |
42,935 | 717,444 | ||||||
|
Zebra Technologies Corp., Class A(a) |
14,026 | 3,674,952 | ||||||
|
|
|
|||||||
| 66,262,954 | ||||||||
| Energy Equipment & Services — 0.4% | ||||||||
|
Archrock, Inc. |
35,273 | 226,453 | ||||||
|
Aspen Aerogels, Inc.(a) |
10,533 | 97,114 | ||||||
|
Baker Hughes Co.(b) |
253,288 | 5,308,916 | ||||||
|
Borr Drilling Ltd.(a)(b) |
39,891 | 132,438 | ||||||
|
Bristow Group, Inc.(a)(b) |
6,209 | 145,849 | ||||||
|
Cactus, Inc., Class A |
14,998 | 576,373 | ||||||
|
ChampionX Corp. |
51,694 | 1,011,652 | ||||||
|
Diamond Offshore Drilling, Inc.(a)(b) |
39,196 | 259,869 | ||||||
|
DMC Global, Inc.(a) |
6,440 | 102,911 | ||||||
|
Dril-Quip, Inc.(a)(b) |
9,991 | 195,024 | ||||||
|
Expro Group Holdings NV(a)(b) |
20,323 | 258,915 | ||||||
|
Halliburton Co. |
240,198 | 5,913,675 | ||||||
| 14 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Energy Equipment & Services (continued) | ||||||||
|
Helix Energy Solutions Group, Inc.(a) |
35,887 | $ | 138,524 | |||||
|
Helmerich & Payne, Inc. |
27,144 | 1,003,514 | ||||||
|
Liberty Energy, Inc.(a) |
39,399 | 499,579 | ||||||
|
Nabors Industries Ltd.(a) |
2,260 | 229,277 | ||||||
|
NexTier Oilfield Solutions, Inc.(a) |
40,996 | 303,370 | ||||||
|
Noble Corp. PLC(a)(b) |
18,670 | 552,259 | ||||||
|
NOV, Inc. |
105,592 | 1,708,478 | ||||||
|
Oceaneering International, Inc.(a) |
24,877 | 198,021 | ||||||
|
Oil States International, Inc.(a) |
23,212 | 90,295 | ||||||
|
Patterson-UTI Energy, Inc. |
58,623 | 684,717 | ||||||
|
ProFrac Holding Corp., Class A(a) |
8,237 | 125,285 | ||||||
|
ProPetro Holding Corp.(a) |
20,109 | 161,877 | ||||||
|
RPC, Inc. |
20,885 | 144,733 | ||||||
|
Schlumberger NV |
371,703 | 13,344,138 | ||||||
|
Select Energy Services, Inc., Class A(a) |
22,685 | 158,114 | ||||||
|
Solaris Oilfield Infrastructure, Inc., Class A |
12,651 | 118,413 | ||||||
|
TETRA Technologies, Inc.(a) |
42,052 | 150,967 | ||||||
|
Tidewater, Inc.(a) |
10,111 | 219,409 | ||||||
|
US Silica Holdings, Inc.(a) |
21,468 | 235,075 | ||||||
|
Valaris Ltd.(a)(b) |
15,771 | 771,833 | ||||||
|
Weatherford International PLC(a) |
18,409 | 594,427 | ||||||
|
|
|
|||||||
| 35,661,494 | ||||||||
| Entertainment — 1.4% | ||||||||
|
Activision Blizzard, Inc. |
205,310 | 15,262,745 | ||||||
|
AMC Entertainment Holdings, Inc., Class A(a)(b) |
136,132 | 948,840 | ||||||
|
Cinemark Holdings, Inc.(a)(b) |
29,385 | 355,852 | ||||||
|
Electronic Arts, Inc. |
73,349 | 8,487,213 | ||||||
|
IMAX Corp.(a)(b) |
14,933 | 210,854 | ||||||
|
Liberty Media Corp.-Liberty Braves, Class C, NVS(a) |
8,686 | 238,865 | ||||||
|
Liberty Media Corp.-Liberty Formula One, Class A, NVS(a) |
6,479 | 340,277 | ||||||
|
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
52,163 | 3,051,536 | ||||||
|
Lions Gate Entertainment Corp., Class A(a) |
14,307 | 106,301 | ||||||
|
Lions Gate Entertainment Corp., Class B, NVS(a)(b) |
33,858 | 235,313 | ||||||
|
Live Nation Entertainment, Inc.(a) |
40,800 | 3,102,432 | ||||||
|
Madison Square Garden Co(a) |
5,300 | 724,298 | ||||||
|
Madison
Square Garden Entertainment |
6,912 | 304,750 | ||||||
|
Marcus Corp.(b) |
7,306 | 101,480 | ||||||
|
Netflix, Inc.(a) |
115,946 | 27,298,326 | ||||||
|
Playtika Holding Corp.(a)(b) |
27,455 | 257,803 | ||||||
|
ROBLOX Corp., Class A(a)(b) |
116,795 | 4,185,933 | ||||||
|
Roku, Inc.(a)(b) |
32,064 | 1,808,410 | ||||||
|
Skillz, Inc.(a)(b) |
130,016 | 132,616 | ||||||
|
Spotify Technology SA(a)(b) |
36,962 | 3,189,821 | ||||||
|
Take-Two Interactive Software, Inc.(a) |
43,572 | 4,749,348 | ||||||
|
Walt Disney Co.(a) |
482,186 | 45,484,605 | ||||||
|
Warner Bros Discovery, Inc.(a) |
621,272 | 7,144,628 | ||||||
|
World Wrestling Entertainment, Inc., Class A |
11,648 | 817,340 | ||||||
|
|
|
|||||||
| 128,539,586 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 3.2% | ||||||||
|
Acadia Realty Trust |
24,793 | 312,888 | ||||||
|
Agree Realty Corp. |
20,778 | 1,404,177 | ||||||
|
Alexander & Baldwin, Inc. |
19,990 | 331,434 | ||||||
|
Alexander’s, Inc. |
559 | 116,809 | ||||||
|
Alexandria Real Estate Equities, Inc. |
43,009 | 6,029,432 | ||||||
|
American Assets Trust, Inc. |
12,461 | 320,497 | ||||||
|
American Homes 4 Rent, Class A |
81,360 | 2,669,422 | ||||||
|
American Tower Corp. |
122,616 | 26,325,655 | ||||||
|
Americold Realty Trust, Inc. |
71,127 | 1,749,724 | ||||||
| Security | Shares | Value | ||||||
| Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
|
Apartment Income REIT Corp. |
40,458 | $ | 1,562,488 | |||||
|
Apartment Investment and Management Co., Class A |
40,458 | 295,343 | ||||||
|
Apple Hospitality REIT, Inc. |
54,336 | 763,964 | ||||||
|
Armada Hoffler Properties, Inc. |
14,874 | 154,392 | ||||||
|
AvalonBay Communities, Inc. |
36,966 | 6,808,768 | ||||||
|
Bluerock Residential Growth REIT, Inc. |
7,481 | 200,117 | ||||||
|
Boston Properties, Inc. |
41,855 | 3,137,869 | ||||||
|
Braemar Hotels & Resorts, Inc. |
22,812 | 98,092 | ||||||
|
Brandywine Realty Trust |
49,722 | 335,623 | ||||||
|
Brixmor Property Group, Inc. |
80,530 | 1,487,389 | ||||||
|
Broadstone Net Lease, Inc. |
40,671 | 631,621 | ||||||
|
Camden Property Trust |
26,862 | 3,208,666 | ||||||
|
CareTrust REIT, Inc. |
26,389 | 477,905 | ||||||
|
CBL & Associates Properties, Inc. |
9,010 | 230,746 | ||||||
|
Centerspace |
4,682 | 315,192 | ||||||
|
Chatham Lodging Trust(a) |
12,948 | 127,797 | ||||||
|
City Office REIT, Inc. |
13,029 | 129,899 | ||||||
|
Community Healthcare Trust, Inc. |
5,798 | 189,884 | ||||||
|
Corporate Office Properties Trust |
29,896 | 694,484 | ||||||
|
Cousins Properties, Inc. |
39,978 | 933,486 | ||||||
|
Crown Castle, Inc. |
113,991 | 16,477,399 | ||||||
|
CTO Realty Growth, Inc. |
6,725 | 126,027 | ||||||
|
CubeSmart |
58,934 | 2,360,896 | ||||||
|
DiamondRock Hospitality Co. |
55,776 | 418,878 | ||||||
|
Digital Realty Trust, Inc. |
75,396 | 7,477,775 | ||||||
|
Diversified Healthcare Trust |
82,790 | 81,970 | ||||||
|
Douglas Emmett, Inc. |
45,169 | 809,880 | ||||||
|
Duke Realty Corp. |
100,437 | 4,841,063 | ||||||
|
Easterly Government Properties, Inc. |
25,636 | 404,280 | ||||||
|
EastGroup Properties, Inc. |
10,855 | 1,566,811 | ||||||
|
Elme Communities |
23,867 | 419,105 | ||||||
|
Empire State Realty Trust, Inc., Class A(b) |
38,852 | 254,869 | ||||||
|
EPR Properties |
20,747 | 743,987 | ||||||
|
Equinix, Inc. |
24,041 | 13,675,482 | ||||||
|
Equity Commonwealth |
28,052 | 683,347 | ||||||
|
Equity LifeStyle Properties, Inc. |
47,007 | 2,953,920 | ||||||
|
Equity Residential |
97,873 | 6,579,023 | ||||||
|
Essential Properties Realty Trust, Inc. |
36,937 | 718,425 | ||||||
|
Essex Property Trust, Inc. |
17,280 | 4,185,734 | ||||||
|
Extra Space Storage, Inc. |
34,992 | 6,043,468 | ||||||
|
Farmland Partners, Inc. |
10,286 | 130,324 | ||||||
|
Federal Realty Investment Trust |
22,240 | 2,004,269 | ||||||
|
First Industrial Realty Trust, Inc. |
34,564 | 1,548,813 | ||||||
|
Four Corners Property Trust, Inc. |
18,481 | 447,055 | ||||||
|
Gaming and Leisure Properties, Inc. |
65,947 | 2,917,495 | ||||||
|
Getty Realty Corp. |
8,694 | 233,782 | ||||||
|
Gladstone Commercial Corp. |
9,826 | 152,303 | ||||||
|
Gladstone Land Corp. |
9,294 | 168,221 | ||||||
|
Global Medical REIT, Inc. |
11,690 | 99,599 | ||||||
|
Global Net Lease, Inc. |
25,456 | 271,106 | ||||||
|
Healthcare Realty Trust, Inc. |
99,769 | 2,080,184 | ||||||
|
Healthpeak Properties, Inc. |
142,206 | 3,259,362 | ||||||
|
Hersha Hospitality Trust, Class A |
13,460 | 107,411 | ||||||
|
Highwoods Properties, Inc. |
27,208 | 733,528 | ||||||
|
Host Hotels & Resorts, Inc. |
187,878 | 2,983,503 | ||||||
|
Hudson Pacific Properties, Inc. |
41,053 | 449,530 | ||||||
|
Independence Realty Trust, Inc. |
58,144 | 972,749 | ||||||
|
Indus Realty Trust, Inc. |
2,059 | 107,830 | ||||||
|
Industrial Logistics Properties Trust |
16,531 | 90,921 | ||||||
|
Innovative Industrial Properties, Inc. |
7,815 | 691,627 | ||||||
|
InvenTrust Properties Corp. |
18,601 | 396,759 | ||||||
|
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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
|
Invitation Homes, Inc. |
160,636 | $ | 5,424,678 | |||||
|
Iron Mountain, Inc. |
74,959 | 3,295,947 | ||||||
|
iStar, Inc. |
15,833 | 146,614 | ||||||
|
JBG SMITH Properties |
28,829 | 535,643 | ||||||
|
Kilroy Realty Corp. |
31,178 | 1,312,906 | ||||||
|
Kimco Realty Corp. |
162,074 | 2,983,782 | ||||||
|
Kite Realty Group Trust |
55,587 | 957,208 | ||||||
|
Lamar Advertising Co., Class A |
23,390 | 1,929,441 | ||||||
|
Life Storage, Inc. |
22,361 | 2,476,704 | ||||||
|
LTC Properties, Inc. |
9,908 | 371,055 | ||||||
|
LXP Industrial Trust |
73,972 | 677,584 | ||||||
|
Macerich Co. |
58,409 | 463,767 | ||||||
|
Medical Properties Trust, Inc. |
158,234 | 1,876,655 | ||||||
|
Mid-America Apartment Communities, Inc. |
30,380 | 4,711,027 | ||||||
|
National Health Investors, Inc. |
11,424 | 645,799 | ||||||
|
National Retail Properties, Inc. |
46,591 | 1,857,117 | ||||||
|
National Storage Affiliates Trust |
22,621 | 940,581 | ||||||
|
Necessity Retail REIT, Inc. |
28,771 | 169,173 | ||||||
|
NETSTREIT Corp. |
16,020 | 285,316 | ||||||
|
NexPoint Residential Trust, Inc. |
6,229 | 287,842 | ||||||
|
Office Properties Income Trust |
12,770 | 179,418 | ||||||
|
Omega Healthcare Investors, Inc. |
61,359 | 1,809,477 | ||||||
|
One Liberty Properties, Inc. |
4,632 | 97,365 | ||||||
|
Orion Office REIT, Inc. |
14,476 | 126,665 | ||||||
|
Outfront Media, Inc., REIT |
39,045 | 593,094 | ||||||
|
Paramount Group, Inc. |
47,173 | 293,888 | ||||||
|
Park Hotels & Resorts, Inc. |
59,625 | 671,377 | ||||||
|
Pebblebrook Hotel Trust |
34,592 | 501,930 | ||||||
|
Phillips Edison & Co., Inc. |
29,979 | 840,911 | ||||||
|
Physicians Realty Trust |
55,451 | 833,983 | ||||||
|
Piedmont Office Realty Trust, Inc., Class A |
34,072 | 359,800 | ||||||
|
Plymouth Industrial REIT, Inc. |
6,974 | 117,233 | ||||||
|
Postal Realty Trust, Inc., Class A |
10,998 | 161,341 | ||||||
|
PotlatchDeltic Corp. |
19,469 | 799,008 | ||||||
|
Prologis, Inc. |
195,374 | 19,849,998 | ||||||
|
Public Storage |
41,251 | 12,078,705 | ||||||
|
Rayonier, Inc. |
37,901 | 1,135,893 | ||||||
|
Realty Income Corp. |
164,228 | 9,558,070 | ||||||
|
Regency Centers Corp. |
44,844 | 2,414,849 | ||||||
|
Retail Opportunity Investments Corp. |
29,152 | 401,132 | ||||||
|
Rexford Industrial Realty, Inc. |
45,581 | 2,370,212 | ||||||
|
RLJ Lodging Trust |
46,119 | 466,724 | ||||||
|
RPT Realty |
18,704 | 141,402 | ||||||
|
Ryman Hospitality Properties, Inc.(b) |
14,307 | 1,052,852 | ||||||
|
Sabra Health Care REIT, Inc. |
63,388 | 831,651 | ||||||
|
Safehold, Inc. |
5,248 | 138,862 | ||||||
|
Saul Centers, Inc. |
3,210 | 120,375 | ||||||
|
SBA Communications Corp., Class A |
28,116 | 8,003,219 | ||||||
|
Service Properties Trust |
43,460 | 225,557 | ||||||
|
Simon Property Group, Inc. |
86,633 | 7,775,312 | ||||||
|
SITE Centers Corp. |
48,348 | 517,807 | ||||||
|
SL Green Realty Corp. |
16,832 | 675,973 | ||||||
|
Spirit Realty Capital, Inc. |
37,970 | 1,372,995 | ||||||
|
STAG Industrial, Inc. |
46,933 | 1,334,305 | ||||||
|
STORE Capital Corp. |
65,295 | 2,045,692 | ||||||
|
Summit Hotel Properties, Inc. |
29,450 | 197,904 | ||||||
|
Sun Communities, Inc. |
32,314 | 4,373,054 | ||||||
|
Sunstone Hotel Investors, Inc. |
54,237 | 510,913 | ||||||
|
Tanger Factory Outlet Centers, Inc.(b) |
29,064 | 397,596 | ||||||
|
Terreno Realty Corp. |
18,656 | 988,581 | ||||||
|
UDR, Inc. |
86,060 | 3,589,563 | ||||||
|
UMH Properties, Inc. |
9,749 | 157,446 | ||||||
| Security | Shares | Value | ||||||
| Equity Real Estate Investment Trusts (REITs) (continued) | ||||||||
|
Uniti Group, Inc. |
61,863 | $ | 429,948 | |||||
|
Universal Health Realty Income Trust |
3,257 | 140,735 | ||||||
|
Urban Edge Properties |
30,351 | 404,882 | ||||||
|
Urstadt Biddle Properties, Inc., Class A |
9,294 | 144,150 | ||||||
|
Ventas, Inc. |
106,341 | 4,271,718 | ||||||
|
Veris Residential, Inc.(a) |
24,261 | 275,848 | ||||||
|
VICI Properties, Inc. |
252,034 | 7,523,215 | ||||||
|
Vornado Realty Trust |
47,542 | 1,101,073 | ||||||
|
Welltower, Inc. |
123,302 | 7,930,785 | ||||||
|
Weyerhaeuser Co. |
196,774 | 5,619,865 | ||||||
|
Whitestone REIT |
15,813 | 133,778 | ||||||
|
WP Carey, Inc. |
50,215 | 3,505,007 | ||||||
|
Xenia Hotels & Resorts, Inc. |
30,916 | 426,332 | ||||||
|
|
|
|||||||
| 305,080,780 | ||||||||
| Food & Staples Retailing — 1.5% | ||||||||
|
Albertsons Cos., Inc., Class A |
42,016 | 1,044,518 | ||||||
|
Andersons, Inc. |
9,869 | 306,235 | ||||||
|
BJ’s Wholesale Club Holdings, Inc.(a) |
35,177 | 2,561,237 | ||||||
|
Casey’s General Stores, Inc. |
10,023 | 2,029,858 | ||||||
|
Chefs’ Warehouse, Inc.(a) |
7,610 | 220,462 | ||||||
|
Costco Wholesale Corp. |
116,926 | 55,220,642 | ||||||
|
Fresh Market, Inc. Escrow(a)(d) |
10,847 | — | ||||||
|
Grocery Outlet Holding Corp.(a) |
22,218 | 739,637 | ||||||
|
Ingles Markets, Inc., Class A |
4,247 | 336,405 | ||||||
|
Kroger Co. |
172,846 | 7,562,012 | ||||||
|
Performance Food Group Co.(a) |
40,028 | 1,719,203 | ||||||
|
PriceSmart, Inc. |
6,000 | 345,540 | ||||||
|
Rite Aid Corp.(a) |
14,766 | 73,092 | ||||||
|
SpartanNash Co. |
9,045 | 262,486 | ||||||
|
Sprouts Farmers Market, Inc.(a) |
30,900 | 857,475 | ||||||
|
Sysco Corp. |
133,921 | 9,469,554 | ||||||
|
United Natural Foods, Inc.(a) |
14,161 | 486,714 | ||||||
|
US Foods Holding Corp.(a) |
56,564 | 1,495,552 | ||||||
|
Walgreens Boots Alliance, Inc. |
189,148 | 5,939,247 | ||||||
|
Walmart, Inc. |
379,866 | 49,268,620 | ||||||
|
Weis Markets, Inc. |
4,756 | 338,817 | ||||||
|
|
|
|||||||
| 140,277,306 | ||||||||
| Food Products — 1.1% | ||||||||
|
Archer-Daniels-Midland Co. |
148,138 | 11,917,702 | ||||||
|
B&G Foods, Inc. |
16,973 | 279,885 | ||||||
|
Benson Hill, Inc.(a)(b) |
60,087 | 164,638 | ||||||
|
Beyond Meat, Inc.(a)(b) |
15,143 | 214,576 | ||||||
|
Brookfield Realty Capital Corp., Class A(a)(b) |
14,181 | 109,619 | ||||||
|
Bunge Ltd. |
36,946 | 3,050,631 | ||||||
|
Calavo Growers, Inc. |
4,154 | 131,890 | ||||||
|
Cal-Maine Foods, Inc. |
9,440 | 524,770 | ||||||
|
Campbell Soup Co. |
52,814 | 2,488,596 | ||||||
|
Conagra Brands, Inc. |
123,027 | 4,014,371 | ||||||
|
Darling Ingredients, Inc.(a) |
42,573 | 2,816,204 | ||||||
|
Flowers Foods, Inc. |
54,761 | 1,352,049 | ||||||
|
Fresh Del Monte Produce, Inc. |
8,990 | 208,928 | ||||||
|
Freshpet, Inc.(a)(b) |
12,207 | 611,449 | ||||||
|
General Mills, Inc. |
157,236 | 12,045,850 | ||||||
|
Hain Celestial Group, Inc.(a) |
23,516 | 396,950 | ||||||
|
Hershey Co. |
38,634 | 8,517,638 | ||||||
|
Hormel Foods Corp. |
74,260 | 3,374,374 | ||||||
|
Hostess Brands, Inc.(a)(b) |
37,817 | 878,867 | ||||||
|
Ingredion, Inc. |
17,978 | 1,447,589 | ||||||
|
J & J Snack Foods Corp. |
4,133 | 535,100 | ||||||
|
J M Smucker Co. |
26,586 | 3,653,182 | ||||||
|
John B Sanfilippo & Son, Inc. |
1,980 | 149,945 | ||||||
|
Kellogg Co. |
65,938 | 4,593,241 | ||||||
| 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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Food Products (continued) | ||||||||
|
Kraft Heinz Co. |
183,474 | $ | 6,118,858 | |||||
|
Lamb Weston Holdings, Inc. |
38,927 | 3,012,171 | ||||||
|
Lancaster Colony Corp. |
5,077 | 762,972 | ||||||
|
Landec Corp.(a)(b) |
11,580 | 102,946 | ||||||
|
McCormick & Co., Inc., NVS |
66,412 | 4,733,183 | ||||||
|
Mission Produce, Inc.(a)(b) |
17,311 | 250,317 | ||||||
|
Mondelez International, Inc., Class A |
364,805 | 20,002,258 | ||||||
|
Pilgrim’s Pride Corp.(a) |
13,908 | 320,162 | ||||||
|
Post Holdings, Inc.(a) |
14,684 | 1,202,766 | ||||||
|
Seaboard Corp. |
75 | 255,199 | ||||||
|
Seneca Foods Corp., Class A(a) |
2,108 | 106,328 | ||||||
|
Simply Good Foods Co.(a) |
22,647 | 724,478 | ||||||
|
Sovos Brands, Inc.(a) |
7,540 | 107,370 | ||||||
|
SunOpta, Inc.(a)(b) |
28,111 | 255,810 | ||||||
|
Tattooed Chef, Inc.(a)(b) |
26,907 | 133,997 | ||||||
|
Tootsie Roll Industries, Inc. |
4,087 | 136,015 | ||||||
|
TreeHouse Foods, Inc.(a) |
13,323 | 565,162 | ||||||
|
Tyson Foods, Inc., Class A |
75,095 | 4,951,013 | ||||||
|
Utz Brands, Inc.(b) |
15,664 | 236,526 | ||||||
|
Vital Farms, Inc.(a) |
8,756 | 104,809 | ||||||
|
|
|
|||||||
| 107,560,384 | ||||||||
| Gas Utilities — 0.2% | ||||||||
|
Atmos Energy Corp. |
36,515 | 3,719,053 | ||||||
|
Brookfield Infrastructure Corp., Class A |
24,312 | 989,498 | ||||||
|
Chesapeake Utilities Corp. |
4,585 | 529,063 | ||||||
|
National Fuel Gas Co. |
22,558 | 1,388,445 | ||||||
|
New Jersey Resources Corp. |
26,494 | 1,025,318 | ||||||
|
Northwest Natural Holding Co. |
8,718 | 378,187 | ||||||
|
ONE Gas, Inc. |
14,499 | 1,020,584 | ||||||
|
South Jersey Industries, Inc. |
32,193 | 1,075,890 | ||||||
|
Southwest Gas Holdings, Inc. |
17,380 | 1,212,255 | ||||||
|
Spire, Inc. |
13,573 | 846,005 | ||||||
|
UGI Corp. |
56,596 | 1,829,749 | ||||||
|
|
|
|||||||
| 14,014,047 | ||||||||
| Health Care Equipment & Supplies — 2.7% | ||||||||
|
Abbott Laboratories |
452,331 | 43,767,548 | ||||||
|
ABIOMED, Inc.(a) |
11,677 | 2,868,572 | ||||||
|
Align Technology, Inc.(a) |
20,985 | 4,346,203 | ||||||
|
Alphatec Holdings, Inc.(a) |
14,660 | 128,128 | ||||||
|
AngioDynamics, Inc.(a) |
10,259 | 209,899 | ||||||
|
Artivion, Inc.(a) |
10,594 | 146,621 | ||||||
|
AtriCure, Inc.(a) |
12,091 | 472,758 | ||||||
|
Atrion Corp. |
382 | 215,830 | ||||||
|
Avanos Medical, Inc.(a) |
12,115 | 263,865 | ||||||
|
Axogen, Inc.(a) |
11,008 | 131,215 | ||||||
|
Axonics, Inc.(a) |
12,853 | 905,365 | ||||||
|
Baxter International, Inc. |
133,614 | 7,196,450 | ||||||
|
Becton Dickinson and Co. |
75,103 | 16,735,201 | ||||||
|
BioLife Solutions, Inc.(a)(b) |
9,571 | 217,740 | ||||||
|
Boston Scientific Corp.(a) |
378,484 | 14,658,685 | ||||||
|
Butterfly Network, Inc.(a)(b) |
47,942 | 225,327 | ||||||
|
Cardiovascular Systems, Inc.(a) |
10,001 | 138,614 | ||||||
|
Cerus Corp.(a) |
38,969 | 140,288 | ||||||
|
CONMED Corp. |
7,869 | 630,858 | ||||||
|
Cooper Cos., Inc. |
12,742 | 3,362,614 | ||||||
|
CryoPort, Inc.(a)(b) |
10,139 | 246,986 | ||||||
|
Cue Health, Inc.(a)(b) |
38,371 | 115,497 | ||||||
|
Cutera, Inc.(a)(b) |
4,125 | 188,100 | ||||||
|
DENTSPLY SIRONA, Inc. |
58,590 | 1,661,026 | ||||||
|
Dexcom, Inc.(a)(b) |
104,026 | 8,378,254 | ||||||
|
Edwards Lifesciences Corp.(a) |
163,922 | 13,544,875 | ||||||
|
Embecta Corp. |
15,190 | 437,320 | ||||||
| Security | Shares | Value | ||||||
| Health Care Equipment & Supplies (continued) | ||||||||
|
Enovis Corp.(a) |
12,314 | $ | 567,306 | |||||
|
Envista Holdings Corp.(a) |
43,328 | 1,421,592 | ||||||
|
Figs, Inc., Class A(a) |
38,097 | 314,300 | ||||||
|
Glaukos Corp.(a) |
11,899 | 633,503 | ||||||
|
Globus Medical, Inc., Class A(a)(b) |
20,001 | 1,191,460 | ||||||
|
Haemonetics Corp.(a)(b) |
13,751 | 1,017,987 | ||||||
|
Heska Corp.(a) |
2,523 | 183,977 | ||||||
|
Hologic, Inc.(a) |
64,374 | 4,153,410 | ||||||
|
ICU Medical, Inc.(a)(b) |
5,128 | 772,277 | ||||||
|
IDEXX Laboratories, Inc.(a) |
22,162 | 7,220,380 | ||||||
|
Inari Medical, Inc.(a)(b) |
13,164 | 956,233 | ||||||
|
Inogen, Inc.(a) |
4,690 | 113,873 | ||||||
|
Inspire Medical Systems, Inc.(a) |
7,808 | 1,384,905 | ||||||
|
Insulet Corp.(a)(b) |
18,383 | 4,217,060 | ||||||
|
Integer Holdings Corp.(a) |
9,134 | 568,409 | ||||||
|
Integra LifeSciences Holdings Corp.(a) |
19,380 | 820,937 | ||||||
|
Intuitive Surgical, Inc.(a) |
94,682 | 17,747,194 | ||||||
|
iRhythm Technologies, Inc.(a) |
7,999 | 1,002,115 | ||||||
|
Lantheus Holdings, Inc.(a)(b) |
17,560 | 1,234,995 | ||||||
|
LeMaitre Vascular, Inc. |
4,785 | 242,504 | ||||||
|
LivaNova PLC(a) |
13,850 | 703,164 | ||||||
|
Masimo Corp.(a)(b) |
12,734 | 1,797,531 | ||||||
|
Medtronic PLC |
353,888 | 28,576,456 | ||||||
|
Meridian Bioscience, Inc.(a) |
10,146 | 319,903 | ||||||
|
Merit Medical Systems, Inc.(a) |
14,212 | 803,120 | ||||||
|
Mesa Laboratories, Inc. |
1,389 | 195,613 | ||||||
|
Nano-X Imaging Ltd.(a)(b) |
14,602 | 167,485 | ||||||
|
Neogen Corp.(a) |
33,154 | 463,161 | ||||||
|
Nevro Corp.(a) |
9,126 | 425,272 | ||||||
|
Novocure Ltd.(a) |
27,006 | 2,051,916 | ||||||
|
NuVasive, Inc.(a) |
14,428 | 632,091 | ||||||
|
Omnicell, Inc.(a) |
11,627 | 1,011,898 | ||||||
|
Orthofix Medical, Inc.(a) |
8,187 | 156,454 | ||||||
|
OrthoPediatrics Corp.(a)(b) |
2,872 | 132,514 | ||||||
|
Outset Medical, Inc.(a) |
12,646 | 201,451 | ||||||
|
Paragon 28, Inc.(a)(b) |
14,806 | 263,843 | ||||||
|
Penumbra, Inc.(a) |
9,689 | 1,837,034 | ||||||
|
PROCEPT BioRobotics Corp.(a)(b) |
7,828 | 324,549 | ||||||
|
Pulmonx Corp.(a)(b) |
8,060 | 134,280 | ||||||
|
QuidelOrtho Corp.(a) |
13,188 | 942,678 | ||||||
|
ResMed, Inc. |
38,173 | 8,333,166 | ||||||
|
RxSight, Inc.(a) |
8,192 | 98,304 | ||||||
|
SeaSpine Holdings Corp.(a) |
18,920 | 107,466 | ||||||
|
Senseonics Holdings, Inc.(a)(b) |
108,705 | 143,491 | ||||||
|
Shockwave Medical, Inc.(a)(b) |
9,477 | 2,635,269 | ||||||
|
SI-BONE, Inc.(a) |
7,616 | 132,975 | ||||||
|
Silk Road Medical, Inc.(a)(b) |
9,356 | 421,020 | ||||||
|
STAAR Surgical Co.(a) |
12,694 | 895,562 | ||||||
|
STERIS PLC |
26,371 | 4,384,970 | ||||||
|
Stryker Corp. |
92,634 | 18,762,090 | ||||||
|
Surmodics, Inc.(a) |
3,859 | 117,314 | ||||||
|
Tandem Diabetes Care, Inc.(a) |
15,939 | 762,681 | ||||||
|
Teleflex, Inc. |
12,343 | 2,486,621 | ||||||
|
TransMedics Group, Inc.(a) |
6,778 | 282,914 | ||||||
|
Treace Medical Concepts, Inc.(a) |
10,774 | 237,782 | ||||||
|
UFP Technologies, Inc.(a) |
1,987 | 170,564 | ||||||
|
Utah Medical Products, Inc. |
1,150 | 98,107 | ||||||
|
Varex Imaging Corp.(a) |
9,853 | 208,292 | ||||||
|
ViewRay, Inc.(a) |
40,524 | 147,507 | ||||||
|
Zimmer Biomet Holdings, Inc. |
55,287 | 5,780,256 | ||||||
|
Zimvie, Inc.(a) |
10,571 | 104,336 | ||||||
|
|
|
|||||||
| 254,549,356 | ||||||||
|
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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Health Care Providers & Services — 3.4% | ||||||||
|
1Life Healthcare, Inc.(a) |
49,353 | $ | 846,404 | |||||
|
23andMe Holding Co., Class A(a)(b) |
61,993 | 177,300 | ||||||
|
Acadia Healthcare Co., Inc.(a) |
23,043 | 1,801,502 | ||||||
|
Accolade, Inc.(a)(b) |
13,251 | 151,326 | ||||||
|
AdaptHealth Corp.(a)(b) |
20,223 | 379,788 | ||||||
|
Addus HomeCare Corp.(a) |
3,496 | 332,959 | ||||||
|
Agiliti, Inc.(a)(b) |
7,295 | 104,391 | ||||||
|
agilon health, Inc.(a)(b) |
51,300 | 1,201,446 | ||||||
|
Alignment Healthcare, Inc.(a) |
20,821 | 246,521 | ||||||
|
Amedisys, Inc.(a)(b) |
8,809 | 852,623 | ||||||
|
AmerisourceBergen Corp. |
38,666 | 5,232,670 | ||||||
|
AMN Healthcare Services, Inc.(a) |
11,419 | 1,209,957 | ||||||
|
Apollo Medical Holdings, Inc.(a) |
9,353 | 364,767 | ||||||
|
Brookdale Senior Living, Inc.(a) |
49,285 | 210,447 | ||||||
|
Cano Health, Inc.(a) |
47,414 | 411,079 | ||||||
|
Cardinal Health, Inc. |
71,862 | 4,791,758 | ||||||
|
CareMax, Inc.(a) |
22,545 | 159,844 | ||||||
|
Castle Biosciences, Inc.(a) |
4,363 | 113,787 | ||||||
|
Centene Corp.(a) |
150,939 | 11,744,564 | ||||||
|
Chemed Corp. |
3,948 | 1,723,539 | ||||||
|
Cigna Corp. |
78,801 | 21,864,913 | ||||||
|
Clover Health Investments Corp.(a)(b) |
118,091 | 200,755 | ||||||
|
Community Health Systems, Inc.(a) |
41,187 | 88,552 | ||||||
|
CorVel Corp.(a) |
2,095 | 290,011 | ||||||
|
Covetrus, Inc.(a) |
25,974 | 542,337 | ||||||
|
Cross Country Healthcare, Inc.(a) |
12,050 | 341,859 | ||||||
|
CVS Health Corp. |
344,761 | 32,879,857 | ||||||
|
DaVita, Inc.(a) |
15,644 | 1,294,854 | ||||||
|
DocGo, Inc.(a) |
24,692 | 244,945 | ||||||
|
Elevance Health, Inc. |
63,742 | 28,954,166 | ||||||
|
Encompass Health Corp. |
25,665 | 1,160,828 | ||||||
|
Enhabit, Inc.(a) |
12,832 | 180,161 | ||||||
|
Ensign Group, Inc. |
13,759 | 1,093,840 | ||||||
|
Fulgent Genetics, Inc.(a)(b) |
5,273 | 201,007 | ||||||
|
Guardant Health, Inc.(a)(b) |
26,965 | 1,451,526 | ||||||
|
Hanger, Inc.(a) |
9,671 | 181,041 | ||||||
|
HCA Healthcare, Inc. |
58,214 | 10,699,151 | ||||||
|
HealthEquity, Inc.(a)(b) |
21,601 | 1,450,939 | ||||||
|
Henry Schein, Inc.(a) |
35,711 | 2,348,712 | ||||||
|
Hims & Hers Health, Inc.(a)(b) |
42,375 | 236,453 | ||||||
|
Humana, Inc. |
33,315 | 16,164,105 | ||||||
|
Invitae Corp.(a)(b) |
53,280 | 131,069 | ||||||
|
Laboratory Corp. of America Holdings |
24,135 | 4,943,089 | ||||||
|
LHC Group, Inc.(a) |
8,213 | 1,344,140 | ||||||
|
LifeStance Health Group, Inc.(a)(b) |
23,511 | 155,643 | ||||||
|
McKesson Corp. |
38,296 | 13,015,662 | ||||||
|
ModivCare, Inc.(a) |
3,104 | 309,407 | ||||||
|
Molina Healthcare, Inc.(a) |
15,291 | 5,043,583 | ||||||
|
National HealthCare Corp. |
3,519 | 222,893 | ||||||
|
National Research Corp. |
3,779 | 150,404 | ||||||
|
Oak Street Health, Inc.(a)(b) |
33,428 | 819,655 | ||||||
|
OPKO Health, Inc.(a)(b) |
101,119 | 191,115 | ||||||
|
Option Care Health, Inc.(a) |
39,701 | 1,249,390 | ||||||
|
Owens & Minor, Inc. |
19,575 | 471,758 | ||||||
|
Patterson Cos., Inc. |
21,655 | 520,153 | ||||||
|
Pediatrix Medical Group, Inc.(a) |
20,775 | 342,995 | ||||||
|
Pennant Group, Inc.(a) |
6,902 | 71,850 | ||||||
|
Premier, Inc., Class A |
32,898 | 1,116,558 | ||||||
|
Privia Health Group, Inc.(a)(b) |
11,035 | 375,852 | ||||||
|
Progyny, Inc.(a) |
21,121 | 782,744 | ||||||
|
Quest Diagnostics, Inc. |
30,540 | 3,746,953 | ||||||
|
R1 RCM, Inc.(a) |
38,707 | 717,241 | ||||||
| Security | Shares | Value | ||||||
| Health Care Providers & Services (continued) | ||||||||
|
RadNet, Inc.(a) |
9,671 | $ | 196,805 | |||||
|
Select Medical Holdings Corp. |
30,575 | 675,707 | ||||||
|
Signify Health, Inc., Class A(a) |
16,662 | 485,697 | ||||||
|
Surgery Partners, Inc.(a)(b) |
9,596 | 224,546 | ||||||
|
Tenet Healthcare Corp.(a) |
27,632 | 1,425,259 | ||||||
|
UnitedHealth Group, Inc. |
246,800 | 124,643,872 | ||||||
|
Universal Health Services, Inc., Class B(b) |
17,806 | 1,570,133 | ||||||
|
US Physical Therapy, Inc. |
3,546 | 269,567 | ||||||
|
|
|
|||||||
| 319,140,424 | ||||||||
| Health Care Technology — 0.2% | ||||||||
|
Allscripts Healthcare Solutions, Inc.(a) |
32,124 | 489,248 | ||||||
|
American Well Corp., Class A(a) |
52,457 | 188,321 | ||||||
|
Certara, Inc.(a) |
28,666 | 380,684 | ||||||
|
Change Healthcare, Inc.(a) |
67,974 | 1,868,605 | ||||||
|
Computer Programs and Systems, Inc.(a) |
4,017 | 111,994 | ||||||
|
Definitive Healthcare Corp.(a) |
10,467 | 162,657 | ||||||
|
Doximity, Inc., Class A(a)(b) |
29,718 | 898,078 | ||||||
|
Evolent Health, Inc., Class A(a) |
22,590 | 811,659 | ||||||
|
Health Catalyst, Inc.(a) |
12,131 | 117,671 | ||||||
|
HealthStream, Inc.(a) |
6,923 | 147,183 | ||||||
|
Multiplan Corp.(a)(b) |
99,986 | 285,960 | ||||||
|
NextGen Healthcare, Inc.(a) |
13,331 | 235,959 | ||||||
|
Phreesia, Inc.(a) |
12,834 | 327,010 | ||||||
|
Schrodinger, Inc.(a) |
15,724 | 392,786 | ||||||
|
Sharecare, Inc.(a) |
93,785 | 178,191 | ||||||
|
Simulations Plus, Inc. |
4,181 | 202,946 | ||||||
|
Teladoc Health, Inc.(a)(b) |
44,683 | 1,132,714 | ||||||
|
Veeva Systems, Inc., Class A(a) |
36,849 | 6,075,663 | ||||||
|
|
|
|||||||
| 14,007,329 | ||||||||
| Hotels, Restaurants & Leisure — 2.0% | ||||||||
|
Accel Entertainment, Inc.(a) |
13,055 | 101,960 | ||||||
|
Airbnb, Inc., Class A(a) |
103,981 | 10,922,164 | ||||||
|
Aramark |
61,992 | 1,934,150 | ||||||
|
Bally’s Corp.(a)(b) |
8,472 | 167,407 | ||||||
|
BJ’s Restaurants, Inc.(a) |
6,042 | 144,102 | ||||||
|
Bloomin’ Brands, Inc. |
23,227 | 425,751 | ||||||
|
Booking Holdings, Inc.(a) |
10,501 | 17,255,348 | ||||||
|
Bowlero Corp.(a)(b) |
12,114 | 149,123 | ||||||
|
Boyd Gaming Corp. |
21,231 | 1,011,657 | ||||||
|
Brinker International, Inc.(a)(b) |
12,091 | 302,033 | ||||||
|
Caesars Entertainment, Inc.(a)(b) |
53,909 | 1,739,104 | ||||||
|
Carnival Corp.(a)(b) |
252,471 | 1,774,871 | ||||||
|
Cheesecake Factory, Inc. |
11,672 | 341,756 | ||||||
|
Chipotle Mexican Grill, Inc.(a)(b) |
7,338 | 11,027,253 | ||||||
|
Choice Hotels International, Inc. |
7,904 | 865,646 | ||||||
|
Churchill Downs, Inc. |
9,685 | 1,783,493 | ||||||
|
Chuy’s Holdings, Inc.(a) |
5,752 | 133,331 | ||||||
|
Cracker Barrel Old Country Store, Inc. |
5,816 | 538,445 | ||||||
|
Darden Restaurants, Inc. |
32,888 | 4,154,412 | ||||||
|
Dave & Buster’s Entertainment, Inc.(a) |
12,792 | 396,936 | ||||||
|
Denny’s Corp.(a) |
17,595 | 165,569 | ||||||
|
Dine Brands Global, Inc. |
4,569 | 290,406 | ||||||
|
Domino’s Pizza, Inc. |
9,450 | 2,931,390 | ||||||
|
DraftKings, Inc., Class A(a)(b) |
88,426 | 1,338,770 | ||||||
|
Everi Holdings, Inc.(a) |
24,207 | 392,638 | ||||||
|
Expedia Group, Inc.(a) |
40,025 | 3,749,942 | ||||||
|
Golden Entertainment, Inc.(a) |
5,249 | 183,138 | ||||||
|
Hilton Grand Vacations, Inc.(a) |
23,394 | 769,429 | ||||||
|
Hilton Worldwide Holdings, Inc. |
70,829 | 8,543,394 | ||||||
|
Hyatt Hotels Corp., Class A(a)(b) |
13,760 | 1,114,010 | ||||||
|
International Game Technology PLC |
25,235 | 398,713 | ||||||
|
Jack in the Box, Inc. |
5,459 | 404,348 | ||||||
| 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) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Hotels, Restaurants & Leisure (continued) | ||||||||
|
Krispy Kreme, Inc. |
22,387 | $ | 258,122 | |||||
|
Kura Sushi USA, Inc., Class A(a)(b) |
1,522 | 111,989 | ||||||
|
Las Vegas Sands Corp.(a) |
87,357 | 3,277,635 | ||||||
|
Life Time Group Holdings, Inc.(a)(b) |
10,215 | 99,596 | ||||||
|
Light & Wonder, Inc.(a) |
25,259 | 1,083,106 | ||||||
|
Lindblad Expeditions Holdings, Inc.(a)(b) |
10,955 | 74,056 | ||||||
|
Marriott International, Inc., Class A |
72,632 | 10,178,648 | ||||||
|
Marriott Vacations Worldwide Corp. |
9,801 | 1,194,350 | ||||||
|
McDonald’s Corp. |
194,261 | 44,823,783 | ||||||
|
MGM Resorts International |
85,819 | 2,550,541 | ||||||
|
Monarch Casino & Resort, Inc.(a) |
3,653 | 205,079 | ||||||
|
Norwegian Cruise Line Holdings Ltd.(a)(b) |
115,806 | 1,315,556 | ||||||
|
Papa John’s International, Inc. |
8,769 | 613,918 | ||||||
|
Penn Entertainment, Inc.(a) |
43,424 | 1,194,594 | ||||||
|
Planet Fitness, Inc., Class A(a) |
22,657 | 1,306,403 | ||||||
|
Portillo’s, Inc., Class A(a) |
5,220 | 102,782 | ||||||
|
RCI Hospitality Holdings, Inc.(b) |
2,952 | 192,884 | ||||||
|
Red Rock Resorts, Inc., Class A |
15,302 | 524,247 | ||||||
|
Royal Caribbean Cruises Ltd.(a) |
57,905 | 2,194,599 | ||||||
|
Rush Street Interactive, Inc.(a) |
23,130 | 85,118 | ||||||
|
Ruth’s Hospitality Group, Inc. |
8,511 | 143,495 | ||||||
|
SeaWorld Entertainment, Inc.(a) |
11,887 | 540,977 | ||||||
|
Shake Shack, Inc., Class A(a) |
9,503 | 427,445 | ||||||
|
Six Flags Entertainment Corp.(a) |
21,511 | 380,745 | ||||||
|
Sonder Holdings, Inc.(a) |
61,517 | 102,118 | ||||||
|
Starbucks Corp. |
302,795 | 25,513,507 | ||||||
|
Sweetgreen, Inc., Class A(a) |
25,179 | 465,812 | ||||||
|
Target Hospitality Corp.(a) |
9,642 | 121,682 | ||||||
|
Texas Roadhouse, Inc. |
17,243 | 1,504,624 | ||||||
|
Travel + Leisure Co. |
22,071 | 753,063 | ||||||
|
Vacasa, Inc., Class A(a) |
37,171 | 114,115 | ||||||
|
Vail Resorts, Inc. |
10,685 | 2,304,113 | ||||||
|
Wendy’s Co. |
48,150 | 899,923 | ||||||
|
Wingstop, Inc. |
7,701 | 965,859 | ||||||
|
Wyndham Hotels & Resorts, Inc. |
24,610 | 1,509,823 | ||||||
|
Wynn Resorts Ltd.(a) |
28,126 | 1,772,782 | ||||||
|
Yum! Brands, Inc. |
75,531 | 8,031,967 | ||||||
|
|
|
|||||||
| 192,389,745 | ||||||||
| Household Durables — 0.4% | ||||||||
|
Beazer Homes U.S.A., Inc.(a) |
9,875 | 95,491 | ||||||
|
Cavco Industries, Inc.(a) |
2,391 | 491,972 | ||||||
|
Century Communities, Inc. |
7,193 | 307,717 | ||||||
|
DR Horton, Inc. |
83,966 | 5,655,110 | ||||||
|
Ethan Allen Interiors, Inc. |
6,053 | 127,960 | ||||||
|
Garmin Ltd. |
40,535 | 3,255,366 | ||||||
|
GoPro, Inc., Class A(a)(b) |
31,823 | 156,887 | ||||||
|
Green Brick Partners, Inc.(a) |
8,304 | 177,539 | ||||||
|
Helen of Troy Ltd.(a) |
6,422 | 619,338 | ||||||
|
Installed Building Products, Inc. |
6,044 | 489,504 | ||||||
|
iRobot Corp.(a) |
7,296 | 410,984 | ||||||
|
KB Home |
20,212 | 523,895 | ||||||
|
La-Z-Boy, Inc. |
12,824 | 289,438 | ||||||
|
Leggett & Platt, Inc. |
36,438 | 1,210,470 | ||||||
|
Lennar Corp., Class A |
66,811 | 4,980,760 | ||||||
|
Lennar Corp., Class B |
3,715 | 221,080 | ||||||
|
LGI Homes, Inc.(a)(b) |
5,979 | 486,511 | ||||||
|
M/I Homes, Inc.(a) |
7,319 | 265,167 | ||||||
|
MDC Holdings, Inc. |
14,942 | 409,710 | ||||||
|
Meritage Homes Corp.(a) |
8,877 | 623,787 | ||||||
|
Mohawk Industries, Inc.(a) |
13,920 | 1,269,365 | ||||||
|
Newell Brands, Inc. |
97,190 | 1,349,969 | ||||||
|
NVR, Inc.(a) |
791 | 3,153,780 | ||||||
| Security | Shares | Value | ||||||
| Household Durables (continued) | ||||||||
|
PulteGroup, Inc. |
62,434 | $ | 2,341,275 | |||||
|
Skyline Champion Corp.(a) |
13,468 | 712,053 | ||||||
|
Sonos, Inc.(a) |
32,399 | 450,346 | ||||||
|
Taylor Morrison Home Corp.(a) |
29,337 | 684,139 | ||||||
|
Tempur Sealy International, Inc. |
44,176 | 1,066,409 | ||||||
|
Toll Brothers, Inc. |
29,599 | 1,243,158 | ||||||
|
TopBuild Corp.(a) |
8,769 | 1,444,956 | ||||||
|
Tri Pointe Homes, Inc.(a) |
30,116 | 455,053 | ||||||
|
Tupperware Brands Corp.(a) |
13,009 | 85,209 | ||||||
|
Vizio Holding Corp., Class A(a) |
19,441 | 169,914 | ||||||
|
Vuzix Corp.(a)(b) |
16,076 | 93,080 | ||||||
|
Whirlpool Corp. |
14,330 | 1,931,827 | ||||||
|
|
|
|||||||
| 37,249,219 | ||||||||
| Household Products — 1.2% | ||||||||
|
Central Garden & Pet Co., Class A, NVS(a) |
11,639 | 397,588 | ||||||
|
Church & Dwight Co., Inc. |
64,725 | 4,623,954 | ||||||
|
Clorox Co. |
32,497 | 4,172,290 | ||||||
|
Colgate-Palmolive Co. |
218,413 | 15,343,513 | ||||||
|
Energizer Holdings, Inc. |
19,382 | 487,264 | ||||||
|
Kimberly-Clark Corp. |
89,296 | 10,049,372 | ||||||
|
Procter & Gamble Co. |
631,441 | 79,719,426 | ||||||
|
Reynolds Consumer Products, Inc. |
12,965 | 337,220 | ||||||
|
Spectrum Brands Holdings, Inc. |
10,265 | 400,643 | ||||||
|
WD-40 Co. |
3,599 | 632,488 | ||||||
|
|
|
|||||||
| 116,163,758 | ||||||||
| Independent Power and Renewable Electricity Producers — 0.1% | ||||||||
|
AES Corp. |
175,708 | 3,971,001 | ||||||
|
Altus Power, Inc.(a)(b) |
14,074 | 154,955 | ||||||
|
Brookfield Renewable Corp., Class A(b) |
34,658 | 1,132,623 | ||||||
|
Clearway Energy, Inc., Class A |
8,342 | 242,752 | ||||||
|
Clearway Energy, Inc., Class C |
23,216 | 739,430 | ||||||
|
Montauk Renewables, Inc.(a) |
18,983 | 331,064 | ||||||
|
Ormat Technologies, Inc. |
12,396 | 1,068,535 | ||||||
|
Sunnova Energy International, Inc.(a)(b) |
27,569 | 608,723 | ||||||
|
Vistra Corp. |
109,335 | 2,296,035 | ||||||
|
|
|
|||||||
| 10,545,118 | ||||||||
| Industrial Conglomerates — 0.7% | ||||||||
|
3M Co. |
150,148 | 16,591,354 | ||||||
|
Brookfield Business Corp., Class A(b) |
10,877 | 240,382 | ||||||
|
General Electric Co. |
289,419 | 17,917,930 | ||||||
|
Honeywell International, Inc. |
178,044 | 29,728,007 | ||||||
|
|
|
|||||||
| 64,477,673 | ||||||||
| Insurance — 2.4% | ||||||||
|
Aflac, Inc. |
165,466 | 9,299,189 | ||||||
|
Alleghany Corp.(a) |
3,454 | 2,899,184 | ||||||
|
Allstate Corp. |
71,006 | 8,842,377 | ||||||
|
Ambac Financial Group, Inc.(a) |
13,068 | 166,617 | ||||||
|
American Equity Investment Life Holding Co. |
20,953 | 781,337 | ||||||
|
American Financial Group, Inc. |
17,627 | 2,166,887 | ||||||
|
American International Group, Inc. |
201,195 | 9,552,739 | ||||||
|
AMERISAFE, Inc. |
4,921 | 229,958 | ||||||
|
Aon PLC, Class A |
55,481 | 14,861,695 | ||||||
|
Arch Capital Group Ltd.(a) |
96,018 | 4,372,660 | ||||||
|
Argo Group International Holdings Ltd. |
8,291 | 159,685 | ||||||
|
Arthur J. Gallagher & Co. |
54,812 | 9,384,911 | ||||||
|
Assurant, Inc. |
14,546 | 2,113,097 | ||||||
|
Assured Guaranty Ltd. |
16,436 | 796,324 | ||||||
|
Axis Capital Holdings Ltd. |
21,258 | 1,044,831 | ||||||
|
Bright Health Group, Inc.(a)(b) |
82,973 | 87,122 | ||||||
|
Brighthouse Financial, Inc.(a) |
19,834 | 861,192 | ||||||
|
Brown & Brown, Inc. |
62,480 | 3,778,790 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
19 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Insurance (continued) | ||||||||
|
BRP Group, Inc., Class A(a)(b) |
16,351 | $ | 430,849 | |||||
|
Chubb Ltd. |
109,687 | 19,949,872 | ||||||
|
Cincinnati Financial Corp. |
41,021 | 3,674,251 | ||||||
|
CNA Financial Corp. |
8,082 | 298,226 | ||||||
|
CNO Financial Group, Inc. |
32,326 | 580,898 | ||||||
|
Employers Holdings, Inc. |
7,311 | 252,156 | ||||||
|
Enstar Group Ltd.(a) |
3,157 | 535,396 | ||||||
|
Erie Indemnity Co., Class A, NVS |
6,955 | 1,546,166 | ||||||
|
Everest Re Group Ltd. |
10,181 | 2,671,902 | ||||||
|
Fidelity National Financial, Inc. |
69,364 | 2,510,977 | ||||||
|
First American Financial Corp. |
27,559 | 1,270,470 | ||||||
|
Genworth Financial, Inc., Class A(a) |
136,479 | 477,676 | ||||||
|
Globe Life, Inc. |
22,386 | 2,231,884 | ||||||
|
Goosehead Insurance, Inc., Class A(a) |
4,652 | 165,797 | ||||||
|
Hanover Insurance Group, Inc. |
9,458 | 1,211,948 | ||||||
|
Hartford Financial Services Group, Inc. |
85,886 | 5,319,779 | ||||||
|
HCI Group, Inc. |
2,432 | 95,334 | ||||||
|
Hippo Holdings, Inc.(a)(b) |
4,626 | 85,720 | ||||||
|
Horace Mann Educators Corp. |
10,907 | 384,908 | ||||||
|
James River Group Holdings Ltd. |
8,472 | 193,246 | ||||||
|
Kemper Corp. |
16,435 | 678,108 | ||||||
|
Kinsale Capital Group, Inc. |
5,807 | 1,483,224 | ||||||
|
Lemonade, Inc.(a)(b) |
10,143 | 214,829 | ||||||
|
Lincoln National Corp. |
45,480 | 1,997,027 | ||||||
|
Loews Corp. |
53,279 | 2,655,425 | ||||||
|
Markel Corp.(a)(b) |
3,511 | 3,806,696 | ||||||
|
Marsh & McLennan Cos., Inc. |
132,847 | 19,832,729 | ||||||
|
MBIA, Inc.(a) |
15,077 | 138,708 | ||||||
|
Mercury General Corp. |
7,061 | 200,674 | ||||||
|
MetLife, Inc. |
173,527 | 10,546,971 | ||||||
|
National Western Life Group, Inc., Class A |
567 | 96,844 | ||||||
|
Old Republic International Corp. |
75,379 | 1,577,682 | ||||||
|
Oscar Health, Inc., Class A(a)(b) |
38,932 | 194,271 | ||||||
|
Palomar Holdings, Inc.(a) |
5,686 | 476,032 | ||||||
|
Primerica, Inc. |
10,025 | 1,237,586 | ||||||
|
Principal Financial Group, Inc. |
65,617 | 4,734,267 | ||||||
|
ProAssurance Corp. |
13,261 | 258,722 | ||||||
|
Progressive Corp. |
154,115 | 17,909,704 | ||||||
|
Prudential Financial, Inc. |
98,605 | 8,458,337 | ||||||
|
Reinsurance Group of America, Inc. |
17,598 | 2,214,004 | ||||||
|
RenaissanceRe Holdings Ltd. |
11,297 | 1,585,986 | ||||||
|
RLI Corp. |
10,636 | 1,088,914 | ||||||
|
Ryan Specialty Holdings, Inc.(a) |
21,795 | 885,313 | ||||||
|
Safety Insurance Group, Inc. |
3,821 | 311,641 | ||||||
|
Selective Insurance Group, Inc. |
15,510 | 1,262,514 | ||||||
|
SiriusPoint Ltd.(a) |
24,229 | 119,934 | ||||||
|
Stewart Information Services Corp. |
6,984 | 304,782 | ||||||
|
Travelers Cos., Inc. |
62,115 | 9,516,018 | ||||||
|
Trupanion, Inc.(a)(b) |
9,665 | 574,391 | ||||||
|
United Fire Group, Inc. |
5,939 | 170,627 | ||||||
|
Universal Insurance Holdings, Inc. |
8,799 | 86,670 | ||||||
|
Unum Group |
52,810 | 2,049,028 | ||||||
|
W R Berkley Corp. |
54,262 | 3,504,240 | ||||||
|
White Mountains Insurance Group Ltd. |
791 | 1,030,689 | ||||||
|
Willis Towers Watson PLC |
28,382 | 5,703,079 | ||||||
|
|
|
|||||||
| 222,191,716 | ||||||||
| Interactive Media & Services — 4.2% | ||||||||
|
Alphabet, Inc., Class A(a)(b) |
1,588,661 | 151,955,425 | ||||||
|
Alphabet, Inc., Class C, NVS(a) |
1,429,093 | 137,407,292 | ||||||
|
Bumble, Inc., Class A(a) |
23,318 | 501,104 | ||||||
|
Cargurus, Inc.(a) |
25,858 | 366,408 | ||||||
|
Cars.com, Inc.(a) |
18,841 | 216,672 | ||||||
| Security | Shares | Value | ||||||
| Interactive Media & Services (continued) | ||||||||
|
Eventbrite, Inc., Class A(a)(b) |
18,728 | $ | 113,866 | |||||
|
fuboTV, Inc.(a)(b) |
35,296 | 125,301 | ||||||
|
IAC, Inc.(a)(b) |
20,478 | 1,134,072 | ||||||
|
Match Group, Inc.(a) |
74,702 | 3,567,020 | ||||||
|
Meta Platforms, Inc., Class A(a) |
606,364 | 82,271,468 | ||||||
|
Outbrain, Inc.(a)(b) |
26,920 | 98,258 | ||||||
|
Pinterest, Inc., Class A(a)(b) |
156,314 | 3,642,116 | ||||||
|
QuinStreet, Inc.(a) |
12,440 | 130,620 | ||||||
|
Shutterstock, Inc. |
6,057 | 303,880 | ||||||
|
TripAdvisor, Inc.(a)(b) |
27,756 | 612,852 | ||||||
|
Twitter, Inc.(a) |
196,948 | 8,634,200 | ||||||
|
Vimeo, Inc.(a)(b) |
38,000 | 152,000 | ||||||
|
Yelp, Inc.(a) |
18,841 | 638,898 | ||||||
|
Ziff Davis, Inc.(a)(b) |
11,448 | 783,959 | ||||||
|
ZipRecruiter, Inc., Class A(a)(b) |
21,551 | 355,591 | ||||||
|
ZoomInfo Technologies, Inc.(a)(b) |
73,216 | 3,050,179 | ||||||
|
|
|
|||||||
| 396,061,181 | ||||||||
| Internet & Direct Marketing Retail — 3.0% | ||||||||
|
Amazon.com, Inc.(a) |
2,349,737 | 265,520,281 | ||||||
|
CarParts.com, Inc.(a)(b) |
21,853 | 112,980 | ||||||
|
ContextLogic, Inc., Class A(a) |
169,905 | 124,693 | ||||||
|
DoorDash, Inc., Class A(a) |
66,744 | 3,300,491 | ||||||
|
eBay, Inc. |
145,916 | 5,371,168 | ||||||
|
Etsy, Inc.(a)(b) |
33,440 | 3,348,347 | ||||||
|
Liquidity Services, Inc.(a) |
6,775 | 110,162 | ||||||
|
Overstock.com, Inc.(a)(b) |
11,597 | 282,387 | ||||||
|
PetMed Express, Inc. |
5,737 | 111,986 | ||||||
|
Poshmark, Inc., Class A(a) |
17,070 | 267,487 | ||||||
|
Qurate Retail, Inc., Class A |
98,112 | 197,205 | ||||||
|
Revolve Group, Inc.(a)(b) |
9,332 | 202,411 | ||||||
|
Stitch Fix, Inc., Class A(a) |
23,005 | 90,870 | ||||||
|
Wayfair, Inc., Class A(a)(b) |
19,866 | 646,638 | ||||||
|
Xometry, Inc., Class A(a)(b) |
9,510 | 540,073 | ||||||
|
|
|
|||||||
| 280,227,179 | ||||||||
| IT Services — 4.4% | ||||||||
|
Accenture PLC, Class A |
167,556 | 43,112,159 | ||||||
|
Affirm Holdings, Inc.(a)(b) |
47,997 | 900,424 | ||||||
|
Akamai Technologies, Inc.(a)(b) |
42,241 | 3,392,797 | ||||||
|
Amdocs Ltd. |
32,253 | 2,562,501 | ||||||
|
Automatic Data Processing, Inc. |
109,961 | 24,872,079 | ||||||
|
AvidXchange Holdings, Inc.(a)(b) |
38,218 | 321,796 | ||||||
|
BigCommerce Holdings, Inc.(a) |
19,979 | 295,689 | ||||||
|
Block, Inc.(a) |
141,301 | 7,770,142 | ||||||
|
Broadridge Financial Solutions, Inc. |
30,839 | 4,450,684 | ||||||
|
Cass Information Systems, Inc. |
3,419 | 118,605 | ||||||
|
Cloudflare, Inc., Class A(a) |
74,394 | 4,114,732 | ||||||
|
Cognizant Technology Solutions Corp., Class A |
136,556 | 7,843,777 | ||||||
|
Concentrix Corp. |
10,991 | 1,226,925 | ||||||
|
Conduent, Inc.(a) |
38,107 | 127,277 | ||||||
|
Core Scientific, Inc.(a)(b) |
73,390 | 95,407 | ||||||
|
CSG Systems International, Inc. |
8,382 | 443,240 | ||||||
|
DigitalOcean Holdings, Inc.(a)(b) |
20,365 | 736,602 | ||||||
|
DXC Technology Co.(a) |
61,285 | 1,500,257 | ||||||
|
Edgio, Inc.(a) |
36,664 | 101,926 | ||||||
|
EPAM Systems, Inc.(a)(b) |
14,573 | 5,278,195 | ||||||
|
Euronet Worldwide, Inc.(a) |
12,443 | 942,682 | ||||||
|
EVERTEC, Inc. |
16,153 | 506,397 | ||||||
|
Evo Payments, Inc., Class A(a) |
13,841 | 460,905 | ||||||
|
ExlService Holdings, Inc.(a) |
8,763 | 1,291,316 | ||||||
|
Fastly, Inc., Class A(a) |
28,019 | 256,654 | ||||||
|
Fidelity National Information Services, Inc. |
162,264 | 12,262,290 | ||||||
|
Fiserv, Inc.(a)(b) |
155,618 | 14,561,176 | ||||||
| 20 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| IT Services (continued) | ||||||||
|
FleetCor Technologies, Inc.(a) |
19,615 | $ | 3,455,575 | |||||
|
Flywire Corp.(a) |
16,537 | 379,690 | ||||||
|
Gartner, Inc.(a) |
20,036 | 5,543,761 | ||||||
|
Genpact Ltd. |
47,125 | 2,062,661 | ||||||
|
Global Payments, Inc. |
73,131 | 7,901,805 | ||||||
|
Globant SA(a)(b) |
10,931 | 2,044,971 | ||||||
|
GoDaddy, Inc., Class A(a) |
41,538 | 2,944,213 | ||||||
|
Grid Dynamics Holdings, Inc.(a) |
11,390 | 213,335 | ||||||
|
Hackett Group, Inc. |
7,924 | 140,413 | ||||||
|
I3 Verticals, Inc., Class A(a)(b) |
6,161 | 123,405 | ||||||
|
International Business Machines Corp. |
238,177 | 28,297,809 | ||||||
|
International Money Express, Inc.(a) |
9,599 | 218,761 | ||||||
|
Jack Henry & Associates, Inc. |
19,264 | 3,511,249 | ||||||
|
Kyndryl Holdings, Inc.(a) |
59,255 | 490,039 | ||||||
|
Marqeta, Inc., Class A(a)(b) |
117,058 | 833,453 | ||||||
|
Mastercard, Inc., Class A |
227,306 | 64,632,188 | ||||||
|
Maximus, Inc. |
16,496 | 954,624 | ||||||
|
MoneyGram International, Inc.(a)(b) |
20,299 | 211,110 | ||||||
|
MongoDB, Inc., Class A(a) |
17,423 | 3,459,511 | ||||||
|
Okta, Inc.(a) |
40,272 | 2,290,269 | ||||||
|
Paya Holdings, Inc.(a)(b) |
23,032 | 140,726 | ||||||
|
Paychex, Inc. |
85,243 | 9,565,117 | ||||||
|
Payoneer Global, Inc.(a)(b) |
65,627 | 397,043 | ||||||
|
PayPal Holdings, Inc.(a) |
306,259 | 26,359,712 | ||||||
|
Paysafe Ltd.(a)(b) |
95,782 | 132,179 | ||||||
|
Perficient, Inc.(a) |
8,521 | 554,035 | ||||||
|
Remitly Global, Inc.(a) |
27,021 | 300,474 | ||||||
|
Repay Holdings Corp.(a)(b) |
20,956 | 147,949 | ||||||
|
Sabre Corp.(a)(b) |
85,932 | 442,550 | ||||||
|
Shift4 Payments, Inc., Class A(a)(b) |
14,853 | 662,592 | ||||||
|
Snowflake, Inc., Class A(a)(b) |
81,452 | 13,843,582 | ||||||
|
SolarWinds Corp.(a) |
12,335 | 95,596 | ||||||
|
Squarespace, Inc., Class A(a)(b) |
9,940 | 212,318 | ||||||
|
SS&C Technologies Holdings, Inc. |
59,082 | 2,821,165 | ||||||
|
StoneCo Ltd., Class A(a)(b) |
76,694 | 730,894 | ||||||
|
Switch, Inc., Class A |
37,878 | 1,276,110 | ||||||
|
Thoughtworks Holding, Inc.(a)(b) |
28,989 | 304,095 | ||||||
|
Toast, Inc., Class A(a)(b) |
63,694 | 1,064,964 | ||||||
|
TTEC Holdings, Inc. |
4,681 | 207,415 | ||||||
|
Tucows, Inc., Class A(a) |
2,742 | 102,578 | ||||||
|
Twilio, Inc., Class A(a)(b) |
46,288 | 3,200,352 | ||||||
|
Unisys Corp.(a) |
18,140 | 136,957 | ||||||
|
VeriSign, Inc.(a) |
24,705 | 4,291,258 | ||||||
|
Verra Mobility Corp.(a) |
37,361 | 574,239 | ||||||
|
Visa, Inc., Class A(b) |
434,606 | 77,207,756 | ||||||
|
Western Union Co. |
98,305 | 1,327,117 | ||||||
|
WEX, Inc.(a) |
11,731 | 1,489,133 | ||||||
|
Wix.com Ltd.(a)(b) |
14,065 | 1,100,305 | ||||||
|
|
|
|||||||
| 417,943,687 | ||||||||
| Leisure Products — 0.1% | ||||||||
|
Acushnet Holdings Corp.(b) |
9,480 | 412,285 | ||||||
|
AMMO, Inc.(a)(b) |
36,852 | 107,976 | ||||||
|
Brunswick Corp. |
20,262 | 1,326,148 | ||||||
|
Hasbro, Inc. |
34,530 | 2,328,013 | ||||||
|
Malibu Boats, Inc., Class A(a) |
5,120 | 245,709 | ||||||
|
MasterCraft Boat Holdings, Inc.(a) |
5,256 | 99,076 | ||||||
|
Mattel, Inc.(a) |
91,242 | 1,728,123 | ||||||
|
Peloton Interactive, Inc., Class A(a)(b) |
79,070 | 547,955 | ||||||
|
Polaris, Inc. |
14,640 | 1,400,316 | ||||||
|
Smith & Wesson Brands, Inc. |
15,079 | 156,369 | ||||||
|
Sturm Ruger & Co., Inc. |
4,154 | 210,982 | ||||||
|
Topgolf Callaway Brands Corp.(a) |
38,251 | 736,714 | ||||||
| Security | Shares | Value | ||||||
| Leisure Products (continued) | ||||||||
|
Vista Outdoor, Inc.(a)(b) |
15,898 | $ | 386,639 | |||||
|
YETI Holdings, Inc.(a) |
25,051 | 714,455 | ||||||
|
|
|
|||||||
| 10,400,760 | ||||||||
| Life Sciences Tools & Services — 1.8% | ||||||||
|
10X Genomics, Inc., Class A(a)(b) |
25,822 | 735,411 | ||||||
|
AbCellera Biologics, Inc.(a) |
58,206 | 575,657 | ||||||
|
Adaptive Biotechnologies Corp.(a)(b) |
29,552 | 210,410 | ||||||
|
Agilent Technologies, Inc. |
79,742 | 9,692,640 | ||||||
|
Avantor, Inc.(a) |
164,205 | 3,218,418 | ||||||
|
Azenta, Inc. |
19,108 | 818,969 | ||||||
|
Bionano Genomics, Inc.(a)(b) |
73,603 | 134,693 | ||||||
|
Bio-Rad Laboratories, Inc., Class A(a) |
5,571 | 2,323,887 | ||||||
|
Bio-Techne Corp. |
10,512 | 2,985,408 | ||||||
|
Bruker Corp. |
29,128 | 1,545,532 | ||||||
|
Charles River Laboratories International, Inc.(a) |
13,765 | 2,708,952 | ||||||
|
Codexis, Inc.(a) |
16,710 | 101,263 | ||||||
|
Cytek Biosciences, Inc.(a) |
25,641 | 377,436 | ||||||
|
Danaher Corp. |
170,871 | 44,134,271 | ||||||
|
Illumina, Inc.(a) |
41,791 | 7,973,305 | ||||||
|
IQVIA Holdings, Inc.(a) |
49,557 | 8,976,755 | ||||||
|
Maravai LifeSciences Holdings, Inc., Class A(a) |
29,963 | 764,955 | ||||||
|
MaxCyte, Inc.(a)(b) |
25,184 | 163,696 | ||||||
|
Medpace Holdings, Inc.(a)(b) |
7,068 | 1,110,878 | ||||||
|
Mettler-Toledo International, Inc.(a) |
5,904 | 6,400,644 | ||||||
|
NanoString Technologies, Inc.(a)(b) |
11,921 | 152,231 | ||||||
|
NeoGenomics, Inc.(a) |
28,292 | 243,594 | ||||||
|
Pacific Biosciences of California, Inc.(a)(b) |
52,188 | 302,951 | ||||||
|
PerkinElmer, Inc.(b) |
33,337 | 4,011,441 | ||||||
|
QIAGEN NV(a) |
61,291 | 2,530,092 | ||||||
|
Quanterix Corp.(a) |
12,314 | 135,700 | ||||||
|
Quantum-Si, Inc.(a)(b) |
35,122 | 96,586 | ||||||
|
Repligen Corp.(a) |
14,697 | 2,749,956 | ||||||
|
Seer, Inc.(a)(b) |
18,905 | 146,325 | ||||||
|
SomaLogic, Inc.(a) |
59,939 | 173,823 | ||||||
|
Sotera Health Co.(a) |
26,265 | 179,127 | ||||||
|
Syneos Health, Inc.(a) |
27,210 | 1,282,952 | ||||||
|
Thermo Fisher Scientific, Inc. |
103,369 | 52,427,723 | ||||||
|
Waters Corp.(a) |
15,947 | 4,298,195 | ||||||
|
West Pharmaceutical Services, Inc. |
19,700 | 4,847,776 | ||||||
|
|
|
|||||||
| 168,531,652 | ||||||||
| Machinery — 1.8% | ||||||||
|
3D Systems Corp.(a)(b) |
31,171 | 248,745 | ||||||
|
AGCO Corp. |
16,414 | 1,578,534 | ||||||
|
Alamo Group, Inc. |
2,403 | 293,815 | ||||||
|
Albany International Corp., Class A |
8,008 | 631,271 | ||||||
|
Allison Transmission Holdings, Inc. |
24,621 | 831,205 | ||||||
|
Altra Industrial Motion Corp.(b) |
18,082 | 607,917 | ||||||
|
Astec Industries, Inc. |
6,001 | 187,171 | ||||||
|
Barnes Group, Inc. |
12,440 | 359,267 | ||||||
|
Caterpillar, Inc. |
139,394 | 22,871,767 | ||||||
|
Chart Industries, Inc.(a)(b) |
9,527 | 1,756,302 | ||||||
|
CIRCOR International, Inc.(a) |
8,658 | 142,770 | ||||||
|
Columbus McKinnon Corp. |
6,637 | 173,624 | ||||||
|
Crane Holdings Co. |
12,665 | 1,108,694 | ||||||
|
Cummins, Inc. |
37,057 | 7,541,470 | ||||||
|
Deere & Co. |
74,082 | 24,735,239 | ||||||
|
Desktop Metal, Inc.(a)(b) |
52,469 | 135,895 | ||||||
|
Donaldson Co., Inc. |
32,772 | 1,606,156 | ||||||
|
Douglas Dynamics, Inc. |
5,490 | 153,830 | ||||||
|
Dover Corp. |
38,199 | 4,453,239 | ||||||
|
Energy Recovery, Inc.(a) |
14,927 | 324,513 | ||||||
|
Enerpac Tool Group Corp. |
15,911 | 283,693 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
21 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Machinery (continued) | ||||||||
|
EnPro Industries, Inc. |
5,159 | $ | 438,412 | |||||
|
Esab Corp. |
16,651 | 555,477 | ||||||
|
ESCO Technologies, Inc. |
6,645 | 488,009 | ||||||
|
Evoqua Water Technologies Corp.(a) |
29,685 | 981,683 | ||||||
|
Federal Signal Corp. |
17,282 | 644,964 | ||||||
|
Flowserve Corp. |
35,670 | 866,781 | ||||||
|
Fortive Corp. |
94,394 | 5,503,170 | ||||||
|
Franklin Electric Co., Inc. |
11,823 | 966,057 | ||||||
|
Gates Industrial Corp. PLC(a)(b) |
25,145 | 245,415 | ||||||
|
Gorman-Rupp Co. |
4,763 | 113,312 | ||||||
|
Graco, Inc. |
44,434 | 2,663,818 | ||||||
|
Greenbrier Cos., Inc. |
8,401 | 203,892 | ||||||
|
Helios Technologies, Inc. |
8,173 | 413,554 | ||||||
|
Hillenbrand, Inc. |
19,028 | 698,708 | ||||||
|
Hillman Solutions Corp.(a) |
33,954 | 256,013 | ||||||
|
Hyliion Holdings Corp.(a)(b) |
54,869 | 157,474 | ||||||
|
Hyster-Yale Materials Handling, Inc. |
4,972 | 106,948 | ||||||
|
IDEX Corp. |
20,189 | 4,034,772 | ||||||
|
Illinois Tool Works, Inc. |
80,544 | 14,550,274 | ||||||
|
Ingersoll Rand, Inc.(b) |
107,314 | 4,642,404 | ||||||
|
ITT, Inc. |
23,444 | 1,531,831 | ||||||
|
John Bean Technologies Corp. |
8,655 | 744,330 | ||||||
|
Kadant, Inc. |
2,838 | 473,407 | ||||||
|
Kennametal, Inc. |
22,228 | 457,452 | ||||||
|
Lincoln Electric Holdings, Inc. |
14,976 | 1,882,783 | ||||||
|
Lindsay Corp. |
3,114 | 446,174 | ||||||
|
Luxfer Holdings PLC |
7,296 | 105,792 | ||||||
|
Manitowoc Co., Inc.(a) |
15,971 | 123,775 | ||||||
|
Markforged Holding Corp.(a) |
47,376 | 93,804 | ||||||
|
Microvast Holdings, Inc.(a)(b) |
54,533 | 98,705 | ||||||
|
Middleby Corp.(a) |
14,451 | 1,852,185 | ||||||
|
Mueller Industries, Inc. |
15,515 | 922,212 | ||||||
|
Mueller Water Products, Inc., Class A |
45,689 | 469,226 | ||||||
|
Nikola Corp.(a)(b) |
81,641 | 287,376 | ||||||
|
Nordson Corp. |
15,509 | 3,292,095 | ||||||
|
Oshkosh Corp. |
17,952 | 1,261,846 | ||||||
|
Otis Worldwide Corp. |
112,059 | 7,149,364 | ||||||
|
PACCAR, Inc. |
88,496 | 7,406,230 | ||||||
|
Parker-Hannifin Corp. |
33,803 | 8,190,805 | ||||||
|
Pentair PLC |
44,293 | 1,799,625 | ||||||
|
Proterra, Inc.(a) |
62,822 | 312,854 | ||||||
|
Proto Labs, Inc.(a)(b) |
7,158 | 260,766 | ||||||
|
RBC Bearings, Inc.(a)(b) |
7,319 | 1,520,961 | ||||||
|
REV Group, Inc. |
9,426 | 103,969 | ||||||
|
Sarcos Technology and Robotics Corp.(a) |
40,842 | 90,669 | ||||||
|
Shyft Group, Inc. |
8,937 | 182,583 | ||||||
|
Snap-on, Inc. |
12,992 | 2,615,939 | ||||||
|
SPX Technologies, Inc.(a)(b) |
12,338 | 681,304 | ||||||
|
Standex International Corp. |
3,109 | 253,850 | ||||||
|
Stanley Black & Decker, Inc. |
39,666 | 2,983,280 | ||||||
|
Tennant Co. |
4,641 | 262,495 | ||||||
|
Terex Corp. |
18,027 | 536,123 | ||||||
|
Timken Co. |
16,737 | 988,152 | ||||||
|
Titan International, Inc.(a) |
11,211 | 136,102 | ||||||
|
Toro Co. |
28,049 | 2,425,678 | ||||||
|
Trinity Industries, Inc. |
20,226 | 431,825 | ||||||
|
Wabash National Corp. |
16,901 | 262,980 | ||||||
|
Watts Water Technologies, Inc., Class A |
7,042 | 885,391 | ||||||
|
Westinghouse Air Brake Technologies Corp. |
47,460 | 3,860,871 | ||||||
|
Xylem, Inc. |
47,092 | 4,113,957 | ||||||
|
|
|
|||||||
| 170,055,020 | ||||||||
| Security | Shares | Value | ||||||
| Marine — 0.0% | ||||||||
|
Costamare, Inc. |
18,073 | $ | 161,753 | |||||
|
Eagle Bulk Shipping, Inc. |
2,757 | 119,047 | ||||||
|
Genco Shipping & Trading Ltd. |
9,082 | 113,798 | ||||||
|
Golden Ocean Group Ltd. |
30,271 | 226,124 | ||||||
|
Kirby Corp.(a) |
15,714 | 954,940 | ||||||
|
Matson, Inc. |
10,981 | 675,551 | ||||||
|
|
|
|||||||
| 2,251,213 | ||||||||
| Media — 0.8% | ||||||||
|
Altice U.S.A., Inc., Class A(a) |
59,034 | 344,168 | ||||||
|
AMC Networks, Inc., Class A(a) |
7,657 | 155,437 | ||||||
|
Boston Omaha Corp., Class A(a) |
4,961 | 114,301 | ||||||
|
Cable One, Inc. |
1,632 | 1,392,178 | ||||||
|
Charter Communications, Inc., Class A(a) |
29,635 | 8,989,777 | ||||||
|
Clear Channel Outdoor Holdings, Inc.(a)(b) |
99,006 | 135,638 | ||||||
|
Comcast Corp., Class A |
1,158,694 | 33,984,495 | ||||||
|
Daily Journal Corp.(a) |
396 | 101,530 | ||||||
|
DISH Network Corp., Class A(a)(b) |
66,758 | 923,263 | ||||||
|
Entravision Communications Corp., Class A |
23,514 | 93,351 | ||||||
|
EW Scripps Co., Class A(a) |
13,740 | 154,850 | ||||||
|
Fox Corp., Class A, NVS |
76,400 | 2,343,952 | ||||||
|
Fox Corp., Class B |
40,655 | 1,158,668 | ||||||
|
Gannett Co., Inc.(a) |
60,739 | 92,931 | ||||||
|
Gray Television, Inc. |
21,581 | 309,040 | ||||||
|
iHeartMedia, Inc., Class A(a)(b) |
28,425 | 208,355 | ||||||
|
Integral Ad Science Holding Corp.(a)(b) |
18,040 | 130,610 | ||||||
|
Interpublic Group of Cos., Inc. |
104,721 | 2,680,858 | ||||||
|
John Wiley & Sons, Inc., Class A |
12,366 | 464,467 | ||||||
|
Liberty Broadband Corp., Class A(a) |
5,345 | 398,737 | ||||||
|
Liberty Broadband Corp., Class C(a) |
32,742 | 2,416,360 | ||||||
|
Liberty
Media Corp.-Liberty SiriusXM, |
21,458 | 816,906 | ||||||
|
Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a) |
42,930 | 1,618,890 | ||||||
|
Magnite, Inc.(a) |
34,098 | 224,024 | ||||||
|
New York Times Co., Class A |
43,804 | 1,259,365 | ||||||
|
News Corp., Class A, NVS |
104,195 | 1,574,386 | ||||||
|
News Corp., Class B |
31,606 | 487,365 | ||||||
|
Nexstar Media Group, Inc. |
9,983 | 1,665,664 | ||||||
|
Omnicom Group, Inc. |
53,153 | 3,353,423 | ||||||
|
Paramount Global, Class B, NVS |
151,755 | 2,889,415 | ||||||
|
PubMatic, Inc., Class A(a)(b) |
11,396 | 189,515 | ||||||
|
Scholastic Corp. |
6,965 | 214,243 | ||||||
|
Sinclair Broadcast Group, Inc., Class A |
11,943 | 216,049 | ||||||
|
Sirius XM Holdings, Inc.(b) |
195,869 | 1,118,412 | ||||||
|
Stagwell, Inc.(a)(b) |
18,751 | 130,319 | ||||||
|
TechTarget, Inc.(a)(b) |
7,401 | 438,139 | ||||||
|
TEGNA, Inc. |
55,403 | 1,145,734 | ||||||
|
Thryv Holdings, Inc.(a) |
6,677 | 152,436 | ||||||
|
WideOpenWest, Inc.(a) |
14,889 | 182,688 | ||||||
|
|
|
|||||||
| 74,269,939 | ||||||||
| Metals & Mining — 0.5% | ||||||||
|
5E Advanced Materials, Inc.(a)(b) |
10,863 | 110,368 | ||||||
|
Alcoa Corp. |
48,795 | 1,642,440 | ||||||
|
Alpha Metallurgical Resources, Inc. |
4,515 | 617,833 | ||||||
|
Arconic Corp.(a) |
26,227 | 446,908 | ||||||
|
ATI, Inc.(a) |
32,963 | 877,145 | ||||||
|
Carpenter Technology Corp. |
13,426 | 418,086 | ||||||
|
Century Aluminum Co.(a) |
15,345 | 81,022 | ||||||
|
Cleveland-Cliffs, Inc.(a)(b) |
137,079 | 1,846,454 | ||||||
|
Coeur Mining, Inc.(a)(b) |
61,136 | 209,085 | ||||||
|
Commercial Metals Co. |
31,823 | 1,129,080 | ||||||
|
Compass Minerals International, Inc. |
9,038 | 348,234 | ||||||
|
Constellium SE(a) |
30,598 | 310,264 | ||||||
| 22 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Metals & Mining (continued) | ||||||||
|
Freeport-McMoRan, Inc. |
375,078 | $ | 10,250,882 | |||||
|
Haynes International, Inc. |
3,919 | 137,635 | ||||||
|
Hecla Mining Co. |
145,298 | 572,474 | ||||||
|
Kaiser Aluminum Corp. |
4,365 | 267,793 | ||||||
|
Materion Corp. |
5,034 | 402,720 | ||||||
|
MP Materials Corp.(a)(b) |
23,875 | 651,788 | ||||||
|
Newmont Corp. |
210,052 | 8,828,486 | ||||||
|
Novagold Resources, Inc.(a)(b) |
62,240 | 291,906 | ||||||
|
Nucor Corp. |
69,091 | 7,392,046 | ||||||
|
Piedmont Lithium, Inc.(a)(b) |
4,893 | 261,727 | ||||||
|
Reliance Steel & Aluminum Co. |
15,893 | 2,771,898 | ||||||
|
Royal Gold, Inc. |
17,978 | 1,686,696 | ||||||
|
Ryerson Holding Corp. |
5,034 | 129,575 | ||||||
|
Schnitzer Steel Industries, Inc., Class A |
6,266 | 178,330 | ||||||
|
Southern Copper Corp. |
21,691 | 972,624 | ||||||
|
SSR Mining, Inc. |
53,314 | 784,249 | ||||||
|
Steel Dynamics, Inc. |
44,361 | 3,147,413 | ||||||
|
SunCoke Energy, Inc. |
26,414 | 153,465 | ||||||
|
TimkenSteel Corp.(a) |
10,085 | 151,174 | ||||||
|
United States Steel Corp. |
63,536 | 1,151,272 | ||||||
|
Warrior Met Coal, Inc. |
12,242 | 348,162 | ||||||
|
Worthington Industries, Inc. |
9,456 | 360,652 | ||||||
|
|
|
|||||||
| 48,929,886 | ||||||||
| Mortgage Real Estate Investment Trusts (REITs) — 0.1% | ||||||||
|
AFC Gamma, Inc. |
6,405 | 97,997 | ||||||
|
AGNC Investment Corp. |
138,002 | 1,161,977 | ||||||
|
Annaly Capital Management, Inc. |
114,905 | 1,971,770 | ||||||
|
Apollo Commercial Real Estate Finance, Inc. |
41,299 | 342,782 | ||||||
|
Arbor Realty Trust, Inc. |
41,812 | 480,838 | ||||||
|
Ares Commercial Real Estate Corp. |
11,143 | 116,444 | ||||||
|
ARMOUR Residential REIT, Inc. |
28,925 | 140,865 | ||||||
|
Blackstone Mortgage Trust, Inc., Class A |
42,767 | 998,182 | ||||||
|
BrightSpire Capital, Inc. |
23,610 | 148,979 | ||||||
|
Broadmark Realty Capital, Inc. |
34,696 | 177,297 | ||||||
|
Chimera Investment Corp. |
60,363 | 315,095 | ||||||
|
Claros Mortgage Trust, Inc. |
22,918 | 269,057 | ||||||
|
Dynex Capital, Inc. |
7,428 | 86,536 | ||||||
|
Ellington Financial, Inc. |
13,801 | 156,917 | ||||||
|
Franklin BSP Realty Trust, Inc. |
22,069 | 237,683 | ||||||
|
Granite Point Mortgage Trust, Inc. |
16,078 | 103,542 | ||||||
|
Hannon Armstrong Sustainable Infrastructure Capital, Inc. |
23,035 | 689,438 | ||||||
|
Invesco Mortgage Capital, Inc. |
8,734 | 96,947 | ||||||
|
KKR Real Estate Finance Trust, Inc. |
16,028 | 260,455 | ||||||
|
Ladder Capital Corp. |
28,131 | 252,054 | ||||||
|
MFA Financial, Inc. |
29,948 | 232,995 | ||||||
|
New York Mortgage Trust, Inc. |
93,207 | 218,104 | ||||||
|
Orchid Island Capital, Inc. |
11,964 | 98,105 | ||||||
|
PennyMac Mortgage Investment Trust |
23,853 | 280,988 | ||||||
|
Ready Capital Corp. |
21,543 | 218,446 | ||||||
|
Redwood Trust, Inc. |
31,779 | 182,411 | ||||||
|
Rithm Capital Corp. |
113,336 | 829,620 | ||||||
|
Starwood Property Trust, Inc. |
75,346 | 1,372,804 | ||||||
|
TPG RE Finance Trust, Inc. |
14,963 | 104,741 | ||||||
|
Two Harbors Investment Corp. |
96,541 | 320,516 | ||||||
|
|
|
|||||||
| 11,963,585 | ||||||||
| Multiline Retail — 0.5% | ||||||||
|
Big Lots, Inc. |
8,991 | 140,350 | ||||||
|
Dillard’s, Inc., Class A(b) |
1,053 | 287,216 | ||||||
|
Dollar General Corp. |
60,612 | 14,538,394 | ||||||
|
Dollar Tree, Inc.(a) |
55,944 | 7,613,978 | ||||||
|
Franchise Group, Inc. |
7,672 | 186,430 | ||||||
| Security | Shares | Value | ||||||
| Multiline Retail (continued) | ||||||||
|
Kohl’s Corp. |
34,186 | $ | 859,778 | |||||
|
Macy’s, Inc. |
74,054 | 1,160,426 | ||||||
|
Nordstrom, Inc. |
29,160 | 487,847 | ||||||
|
Ollie’s Bargain Outlet Holdings, Inc.(a) |
17,058 | 880,193 | ||||||
|
Target Corp. |
122,759 | 18,216,208 | ||||||
|
|
|
|||||||
| 44,370,820 | ||||||||
| Multi-Utilities — 0.8% | ||||||||
|
Ameren Corp. |
67,562 | 5,442,119 | ||||||
|
Avista Corp. |
18,236 | 675,644 | ||||||
|
Black Hills Corp. |
16,153 | 1,094,043 | ||||||
|
CenterPoint Energy, Inc. |
163,988 | 4,621,182 | ||||||
|
CMS Energy Corp. |
76,141 | 4,434,452 | ||||||
|
Consolidated Edison, Inc. |
90,720 | 7,780,147 | ||||||
|
Dominion Energy, Inc. |
219,766 | 15,188,028 | ||||||
|
DTE Energy Co. |
51,397 | 5,913,225 | ||||||
|
NiSource, Inc. |
107,098 | 2,697,799 | ||||||
|
NorthWestern Corp. |
13,830 | 681,542 | ||||||
|
Public Service Enterprise Group, Inc. |
131,828 | 7,412,688 | ||||||
|
Sempra Energy |
82,897 | 12,429,576 | ||||||
|
Unitil Corp. |
3,437 | 159,649 | ||||||
|
WEC Energy Group, Inc. |
83,162 | 7,437,178 | ||||||
|
|
|
|||||||
| 75,967,272 | ||||||||
| Oil, Gas & Consumable Fuels — 4.4% | ||||||||
|
Antero Midstream Corp. |
89,389 | 820,591 | ||||||
|
Antero Resources Corp.(a) |
77,400 | 2,363,022 | ||||||
|
APA Corp. |
86,884 | 2,970,564 | ||||||
|
Arch Resources, Inc. |
4,049 | 480,211 | ||||||
|
Archaea Energy, Inc.(a) |
18,418 | 331,708 | ||||||
|
Ardmore Shipping Corp.(a) |
13,368 | 122,050 | ||||||
|
Berry Corp. |
23,091 | 173,183 | ||||||
|
Brigham Minerals, Inc., Class A |
14,184 | 349,919 | ||||||
|
California Resources Corp. |
19,514 | 749,923 | ||||||
|
Callon Petroleum Co.(a) |
12,990 | 454,780 | ||||||
|
Cheniere Energy, Inc. |
66,092 | 10,965,324 | ||||||
|
Chesapeake Energy Corp. |
32,041 | 3,018,583 | ||||||
|
Chevron Corp. |
519,189 | 74,591,884 | ||||||
|
Chord Energy Corp. |
11,247 | 1,538,252 | ||||||
|
Civitas Resources, Inc. |
19,483 | 1,118,129 | ||||||
|
Clean Energy Fuels Corp.(a)(b) |
34,999 | 186,895 | ||||||
|
CNX Resources Corp.(a) |
53,128 | 825,078 | ||||||
|
Comstock Resources, Inc.(a)(b) |
22,514 | 389,267 | ||||||
|
ConocoPhillips |
335,398 | 34,324,631 | ||||||
|
CONSOL Energy, Inc. |
9,642 | 620,173 | ||||||
|
Continental Resources, Inc. |
9,908 | 661,953 | ||||||
|
Coterra Energy, Inc. |
208,935 | 5,457,382 | ||||||
|
Crescent Energy Co., Class A |
9,312 | 125,433 | ||||||
|
CVR Energy, Inc. |
7,571 | 219,408 | ||||||
|
Delek U.S. Holdings, Inc. |
19,257 | 522,635 | ||||||
|
Denbury, Inc.(a)(b) |
13,937 | 1,202,206 | ||||||
|
Devon Energy Corp. |
172,864 | 10,394,312 | ||||||
|
DHT Holdings, Inc. |
27,203 | 205,655 | ||||||
|
Diamondback Energy, Inc. |
46,323 | 5,580,069 | ||||||
|
Dorian LPG Ltd. |
9,491 | 128,793 | ||||||
|
DT Midstream, Inc. |
25,208 | 1,308,043 | ||||||
|
Earthstone Energy, Inc., Class A(a)(b) |
8,950 | 110,264 | ||||||
|
Energy Fuels, Inc.(a)(b) |
39,832 | 243,772 | ||||||
|
Enviva, Inc. |
7,894 | 474,114 | ||||||
|
EOG Resources, Inc. |
154,940 | 17,311,446 | ||||||
|
EQT Corp. |
97,093 | 3,956,540 | ||||||
|
Equitrans Midstream Corp. |
112,247 | 839,608 | ||||||
|
Excelerate Energy, Inc., Class A |
12,145 | 284,193 | ||||||
|
Exxon Mobil Corp. |
1,101,503 | 96,172,227 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
23 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Oil, Gas & Consumable Fuels (continued) | ||||||||
|
FLEX LNG Ltd.(b) |
7,277 | $ | 230,463 | |||||
|
Frontline Ltd.(b) |
33,813 | 369,576 | ||||||
|
Gevo, Inc.(a)(b) |
53,437 | 121,836 | ||||||
|
Golar LNG Ltd.(a) |
25,052 | 624,296 | ||||||
|
Green Plains, Inc.(a) |
9,493 | 275,962 | ||||||
|
Gulfport Energy Corp.(a)(b) |
2,959 | 261,250 | ||||||
|
Hess Corp. |
73,868 | 8,050,873 | ||||||
|
HF Sinclair Corp. |
39,506 | 2,127,003 | ||||||
|
International Seaways, Inc. |
13,454 | 472,639 | ||||||
|
Kinder Morgan, Inc. |
533,349 | 8,874,927 | ||||||
|
Kinetik Holdings, Inc. |
4,923 | 160,391 | ||||||
|
Kosmos Energy Ltd.(a) |
124,746 | 644,937 | ||||||
|
Laredo Petroleum, Inc.(a) |
4,690 | 294,767 | ||||||
|
Magnolia Oil & Gas Corp., Class A(b) |
43,257 | 856,921 | ||||||
|
Marathon Oil Corp. |
179,197 | 4,046,268 | ||||||
|
Marathon Petroleum Corp. |
131,964 | 13,107,984 | ||||||
|
Matador Resources Co. |
30,149 | 1,474,889 | ||||||
|
Murphy Oil Corp. |
38,169 | 1,342,404 | ||||||
|
New Fortress Energy, Inc. |
12,965 | 566,700 | ||||||
|
Nordic American Tankers Ltd. |
51,748 | 138,167 | ||||||
|
Northern Oil and Gas, Inc. |
17,625 | 483,101 | ||||||
|
Occidental Petroleum Corp.(b) |
216,585 | 13,309,148 | ||||||
|
ONEOK, Inc. |
117,609 | 6,026,285 | ||||||
|
Ovintiv, Inc. |
68,868 | 3,167,928 | ||||||
|
Par Pacific Holdings, Inc.(a) |
11,367 | 186,532 | ||||||
|
PBF Energy, Inc., Class A(a) |
26,501 | 931,775 | ||||||
|
PDC Energy, Inc. |
25,744 | 1,487,746 | ||||||
|
Peabody Energy Corp.(a)(b) |
30,665 | 761,105 | ||||||
|
Permian Resources Corp.(a) |
47,460 | 322,728 | ||||||
|
PetroCorp Escrow(a)(d) |
1,248 | — | ||||||
|
Phillips 66 |
126,950 | 10,247,404 | ||||||
|
Pioneer Natural Resources Co. |
62,877 | 13,614,757 | ||||||
|
Range Resources Corp. |
69,174 | 1,747,335 | ||||||
|
Ranger Oil Corp., Class A |
6,271 | 197,223 | ||||||
|
REX American Resources Corp.(a) |
4,639 | 129,521 | ||||||
|
Scorpio Tankers, Inc. |
12,848 | 540,130 | ||||||
|
SFL Corp. Ltd. |
36,524 | 332,734 | ||||||
|
SM Energy Co. |
32,018 | 1,204,197 | ||||||
|
Southwestern Energy Co.(a) |
296,925 | 1,817,181 | ||||||
|
Talos Energy, Inc.(a) |
18,449 | 307,176 | ||||||
|
Targa Resources Corp. |
60,727 | 3,664,267 | ||||||
|
Teekay Tankers Ltd., Class A(a) |
6,434 | 177,192 | ||||||
|
Tellurian, Inc.(a)(b) |
140,041 | 334,698 | ||||||
|
Texas Pacific Land Corp. |
1,544 | 2,744,043 | ||||||
|
Uranium Energy Corp.(a)(b) |
87,076 | 304,766 | ||||||
|
Ur-Energy, Inc.(a)(b) |
92,623 | 100,959 | ||||||
|
Valero Energy Corp. |
104,450 | 11,160,482 | ||||||
|
Vertex Energy, Inc.(a) |
15,878 | 98,920 | ||||||
|
W&T Offshore, Inc.(a) |
33,293 | 195,097 | ||||||
|
Williams Cos., Inc. |
323,340 | 9,257,224 | ||||||
|
World Fuel Services Corp. |
17,827 | 417,865 | ||||||
|
|
|
|||||||
| 410,903,992 | ||||||||
| Paper & Forest Products — 0.0% | ||||||||
|
Clearwater Paper Corp.(a) |
4,538 | 170,629 | ||||||
|
Louisiana-Pacific Corp. |
17,994 | 921,113 | ||||||
|
Resolute Forest Products, Inc.(a) |
10,761 | 215,220 | ||||||
|
Sylvamo Corp. |
9,419 | 319,304 | ||||||
|
|
|
|||||||
| 1,626,266 | ||||||||
| Personal Products — 0.2% | ||||||||
|
Beauty Health Co.(a) |
22,899 | 269,979 | ||||||
|
BellRing Brands, Inc.(a) |
35,651 | 734,767 | ||||||
|
Coty, Inc., Class A(a) |
89,873 | 567,997 | ||||||
| Security | Shares | Value | ||||||
| Personal Products (continued) | ||||||||
|
Edgewell Personal Care Co.(b) |
15,193 | $ | 568,218 | |||||
|
elf Beauty, Inc.(a) |
12,246 | 460,695 | ||||||
|
Estee Lauder Cos., Inc., Class A |
61,048 | 13,180,263 | ||||||
|
Herbalife Nutrition Ltd.(a)(b) |
28,460 | 566,069 | ||||||
|
Inter Parfums, Inc. |
5,056 | 381,526 | ||||||
|
Medifast, Inc. |
3,208 | 347,619 | ||||||
|
Nu Skin Enterprises, Inc., Class A |
11,915 | 397,604 | ||||||
|
Olaplex Holdings, Inc.(a)(b) |
34,699 | 331,375 | ||||||
|
USANA Health Sciences, Inc.(a) |
3,632 | 203,574 | ||||||
|
Veru, Inc.(a)(b) |
16,598 | 191,209 | ||||||
|
|
|
|||||||
| 18,200,895 | ||||||||
| Pharmaceuticals — 4.2% | ||||||||
|
Aclaris Therapeutics, Inc.(a) |
17,942 | 282,407 | ||||||
|
Aerie Pharmaceuticals, Inc.(a) |
12,137 | 183,633 | ||||||
|
Amneal Pharmaceuticals, Inc.(a)(b) |
55,105 | 111,312 | ||||||
|
Amphastar Pharmaceuticals, Inc.(a) |
10,512 | 295,387 | ||||||
|
Amylyx Pharmaceuticals, Inc.(a)(b) |
10,844 | 305,259 | ||||||
|
ANI Pharmaceuticals, Inc.(a) |
3,208 | 103,105 | ||||||
|
Arvinas, Inc.(a)(b) |
11,687 | 519,955 | ||||||
|
Atea Pharmaceuticals, Inc.(a)(b) |
18,297 | 104,110 | ||||||
|
Axsome Therapeutics, Inc.(a)(b) |
7,094 | 316,534 | ||||||
|
Bristol-Myers Squibb Co. |
564,221 | 40,110,471 | ||||||
|
Cara Therapeutics, Inc.(a)(b) |
12,379 | 115,867 | ||||||
|
Cassava Sciences, Inc.(a)(b) |
10,012 | 418,702 | ||||||
|
Catalent, Inc.(a) |
44,969 | 3,253,957 | ||||||
|
CinCor Pharma, Inc.(a) |
4,240 | 139,157 | ||||||
|
Collegium Pharmaceutical, Inc.(a) |
9,476 | 151,805 | ||||||
|
Corcept Therapeutics, Inc.(a) |
23,101 | 592,310 | ||||||
|
DICE Therapeutics, Inc.(a)(b) |
9,582 | 194,323 | ||||||
|
Elanco Animal Health, Inc.(a) |
118,446 | 1,469,915 | ||||||
|
Eli Lilly & Co. |
222,671 | 72,000,668 | ||||||
|
Esperion Therapeutics, Inc.(a)(b) |
16,735 | 112,124 | ||||||
|
Evolus, Inc.(a) |
11,608 | 93,444 | ||||||
|
Fulcrum Therapeutics, Inc.(a)(b) |
13,559 | 109,692 | ||||||
|
Harmony Biosciences Holdings, Inc.(a)(b) |
7,417 | 328,499 | ||||||
|
Innoviva, Inc.(a)(b) |
18,600 | 215,946 | ||||||
|
Intra-Cellular Therapies, Inc.(a) |
24,500 | 1,139,985 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
15,896 | 2,118,778 | ||||||
|
Johnson & Johnson |
694,589 | 113,468,059 | ||||||
|
Liquidia Corp.(a) |
21,483 | 116,868 | ||||||
|
Merck & Co., Inc. |
668,427 | 57,564,933 | ||||||
|
Nektar Therapeutics(a) |
45,351 | 145,123 | ||||||
|
NGM Biopharmaceuticals, Inc.(a) |
10,919 | 142,821 | ||||||
|
Nuvation Bio, Inc.(a) |
41,721 | 93,455 | ||||||
|
Ocular Therapeutix, Inc.(a) |
23,248 | 96,479 | ||||||
|
Organon & Co. |
68,542 | 1,603,883 | ||||||
|
Pacira BioSciences, Inc.(a) |
11,864 | 631,046 | ||||||
|
Perrigo Co. PLC |
37,105 | 1,323,164 | ||||||
|
Pfizer, Inc. |
1,494,576 | 65,402,646 | ||||||
|
Phibro Animal Health Corp., Class A |
10,800 | 143,532 | ||||||
|
Prestige Consumer Healthcare, Inc.(a) |
13,689 | 682,123 | ||||||
|
Reata Pharmaceuticals, Inc., Class A(a)(b) |
7,369 | 185,183 | ||||||
|
Relmada Therapeutics, Inc.(a) |
5,347 | 197,946 | ||||||
|
Revance Therapeutics, Inc.(a)(b) |
17,027 | 459,729 | ||||||
|
Royalty Pharma PLC, Class A |
98,210 | 3,946,078 | ||||||
|
SIGA Technologies, Inc. |
12,170 | 125,351 | ||||||
|
Supernus Pharmaceuticals, Inc.(a) |
13,158 | 445,398 | ||||||
|
Tarsus Pharmaceuticals, Inc.(a) |
9,355 | 160,158 | ||||||
|
Theravance Biopharma, Inc.(a) |
15,458 | 156,744 | ||||||
|
Tricida, Inc.(a)(b) |
11,338 | 118,822 | ||||||
|
Ventyx Biosciences, Inc.(a)(b) |
7,035 | 245,592 | ||||||
|
Viatris, Inc. |
321,168 | 2,736,351 | ||||||
| 24 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Pharmaceuticals (continued) | ||||||||
|
Xeris Biopharma Holdings, Inc.(a) |
64,271 | $ | 100,263 | |||||
|
Zoetis, Inc. |
124,748 | 18,498,881 | ||||||
|
|
|
|||||||
| 393,577,973 | ||||||||
| Professional Services — 0.6% | ||||||||
|
Alight, Inc., Class A(a)(b) |
90,100 | 660,433 | ||||||
|
ASGN, Inc.(a) |
13,363 | 1,207,614 | ||||||
|
Barrett Business Services, Inc. |
1,749 | 136,422 | ||||||
|
Booz Allen Hamilton Holding Corp., Class A |
34,147 | 3,153,475 | ||||||
|
CACI International, Inc., Class A(a)(b) |
6,089 | 1,589,594 | ||||||
|
CBIZ, Inc.(a)(b) |
13,622 | 582,749 | ||||||
|
Clarivate PLC(a)(b) |
123,608 | 1,160,679 | ||||||
|
CoStar Group, Inc.(a) |
103,923 | 7,238,237 | ||||||
|
CRA International, Inc. |
2,642 | 234,451 | ||||||
|
Dun & Bradstreet Holdings, Inc. |
67,998 | 842,495 | ||||||
|
Equifax, Inc. |
31,977 | 5,481,817 | ||||||
|
Exponent, Inc. |
13,454 | 1,179,512 | ||||||
|
First Advantage Corp.(a) |
15,117 | 193,951 | ||||||
|
Forrester Research, Inc.(a) |
3,647 | 131,328 | ||||||
|
Franklin Covey Co.(a)(b) |
4,393 | 199,398 | ||||||
|
FTI Consulting, Inc.(a)(b) |
8,598 | 1,424,775 | ||||||
|
Heidrick & Struggles International, Inc. |
4,475 | 116,305 | ||||||
|
HireRight Holdings Corp.(a)(b) |
8,476 | 129,344 | ||||||
|
Huron Consulting Group, Inc.(a)(b) |
5,808 | 384,780 | ||||||
|
ICF International, Inc. |
4,875 | 531,473 | ||||||
|
Insperity, Inc. |
9,446 | 964,342 | ||||||
|
Jacobs Solutions, Inc. |
33,388 | 3,622,264 | ||||||
|
KBR, Inc. |
36,572 | 1,580,642 | ||||||
|
Kelly Services, Inc., Class A, NVS |
10,127 | 137,626 | ||||||
|
Kforce, Inc. |
5,077 | 297,766 | ||||||
|
Korn Ferry |
14,210 | 667,160 | ||||||
|
Legalzoom.com, Inc.(a) |
25,247 | 216,367 | ||||||
|
Leidos Holdings, Inc. |
35,809 | 3,132,213 | ||||||
|
ManpowerGroup, Inc. |
13,961 | 903,137 | ||||||
|
Nielsen Holdings PLC(a) |
96,414 | 2,672,596 | ||||||
|
Planet Labs PBC(a)(b) |
45,002 | 244,361 | ||||||
|
Resources Connection, Inc. |
10,751 | 194,271 | ||||||
|
Robert Half International, Inc. |
28,447 | 2,176,196 | ||||||
|
Science Applications International Corp. |
14,653 | 1,295,765 | ||||||
|
Sterling Check Corp.(a)(b) |
5,947 | 104,905 | ||||||
|
TransUnion |
50,478 | 3,002,936 | ||||||
|
TriNet Group, Inc.(a)(b) |
10,390 | 739,976 | ||||||
|
TrueBlue, Inc.(a) |
10,031 | 191,391 | ||||||
|
Upwork, Inc.(a) |
30,548 | 416,064 | ||||||
|
Verisk Analytics, Inc. |
40,852 | 6,966,492 | ||||||
|
|
|
|||||||
| 56,105,302 | ||||||||
| Real Estate Management & Development — 0.2% | ||||||||
|
Anywhere Real Estate, Inc.(a)(b) |
31,647 | 256,657 | ||||||
|
CBRE Group, Inc., Class A(a) |
84,603 | 5,711,549 | ||||||
|
Compass, Inc., Class A(a)(b) |
75,174 | 174,404 | ||||||
|
Cushman & Wakefield PLC(a)(b) |
37,916 | 434,138 | ||||||
|
DigitalBridge Group, Inc. |
42,080 | 526,421 | ||||||
|
Douglas Elliman, Inc., NVS |
25,710 | 105,411 | ||||||
|
eXp World Holdings, Inc.(b) |
16,291 | 182,622 | ||||||
|
FRP Holdings, Inc.(a)(b) |
2,530 | 137,531 | ||||||
|
Howard Hughes Corp.(a)(b) |
9,716 | 538,169 | ||||||
|
Jones Lang LaSalle, Inc.(a) |
12,769 | 1,929,013 | ||||||
|
Kennedy-Wilson Holdings, Inc. |
31,823 | 491,984 | ||||||
|
Marcus & Millichap, Inc. |
5,619 | 184,191 | ||||||
|
Newmark Group, Inc., Class A |
41,819 | 337,061 | ||||||
|
Opendoor Technologies, Inc.(a) |
118,816 | 369,518 | ||||||
|
RE/MAX Holdings, Inc., Class A |
5,462 | 103,286 | ||||||
|
Redfin Corp.(a)(b) |
27,151 | 158,562 | ||||||
| Security | Shares | Value | ||||||
| Real Estate Management & Development (continued) | ||||||||
|
RMR Group, Inc., Class A |
4,154 | $ | 98,408 | |||||
|
St Joe Co. |
8,449 | 270,621 | ||||||
|
Tejon Ranch Co.(a) |
8,474 | 122,026 | ||||||
|
WeWork, Inc., Class A(a)(b) |
38,359 | 101,651 | ||||||
|
Zillow Group, Inc., Class A(a) |
15,944 | 456,477 | ||||||
|
Zillow Group, Inc., Class C(a)(b) |
42,376 | 1,212,377 | ||||||
|
|
|
|||||||
| 13,902,077 | ||||||||
| Road & Rail — 1.0% | ||||||||
|
AMERCO |
2,323 | 1,182,918 | ||||||
|
ArcBest Corp. |
6,195 | 450,562 | ||||||
|
Avis Budget Group, Inc.(a) |
7,900 | 1,172,834 | ||||||
|
Covenant Logistics Group, Inc. |
3,745 | 107,482 | ||||||
|
CSX Corp. |
569,024 | 15,158,799 | ||||||
|
Heartland Express, Inc. |
11,948 | 170,976 | ||||||
|
Hertz Global Holdings, Inc.(a)(b) |
54,908 | 893,902 | ||||||
|
JB Hunt Transport Services, Inc. |
22,070 | 3,452,189 | ||||||
|
Knight-Swift Transportation Holdings, Inc.(b) |
42,219 | 2,065,776 | ||||||
|
Landstar System, Inc. |
9,262 | 1,337,155 | ||||||
|
Lyft, Inc., Class A(a)(b) |
85,087 | 1,120,596 | ||||||
|
Marten Transport Ltd. |
14,164 | 271,382 | ||||||
|
Norfolk Southern Corp. |
61,982 | 12,994,526 | ||||||
|
Old Dominion Freight Line, Inc.(b) |
26,821 | 6,672,260 | ||||||
|
Ryder System, Inc. |
13,251 | 1,000,318 | ||||||
|
Saia, Inc.(a) |
7,117 | 1,352,230 | ||||||
|
Schneider National, Inc., Class B |
14,858 | 301,617 | ||||||
|
TuSimple Holdings, Inc., Class A(a) |
35,031 | 266,236 | ||||||
|
Uber Technologies, Inc.(a) |
501,775 | 13,297,038 | ||||||
|
Union Pacific Corp. |
165,404 | 32,224,007 | ||||||
|
Universal Logistics Holdings, Inc. |
3,534 | 112,099 | ||||||
|
Werner Enterprises, Inc. |
16,432 | 617,843 | ||||||
|
XPO Logistics, Inc.(a) |
27,898 | 1,242,019 | ||||||
|
|
|
|||||||
| 97,464,764 | ||||||||
| Semiconductors & Semiconductor Equipment — 4.3% | ||||||||
|
ACM Research, Inc., Class A(a) |
14,000 | 174,440 | ||||||
|
Advanced Micro Devices, Inc.(a) |
428,187 | 27,129,928 | ||||||
|
Allegro MicroSystems, Inc.(a)(b) |
19,334 | 422,448 | ||||||
|
Alpha & Omega Semiconductor Ltd.(a)(b) |
6,403 | 196,956 | ||||||
|
Ambarella, Inc.(a) |
9,293 | 522,081 | ||||||
|
Amkor Technology, Inc. |
29,124 | 496,564 | ||||||
|
Analog Devices, Inc. |
138,005 | 19,229,617 | ||||||
|
Applied Materials, Inc.(b) |
229,659 | 18,815,962 | ||||||
|
Axcelis Technologies, Inc.(a) |
8,176 | 495,139 | ||||||
|
AXT, Inc.(a)(b) |
14,163 | 94,892 | ||||||
|
Broadcom, Inc. |
104,177 | 46,255,630 | ||||||
|
CEVA, Inc.(a) |
5,681 | 149,013 | ||||||
|
Cirrus Logic, Inc.(a) |
15,390 | 1,058,832 | ||||||
|
Cohu, Inc.(a) |
11,138 | 287,138 | ||||||
|
Credo Technology Group Holding Ltd.(a)(b) |
29,085 | 319,935 | ||||||
|
CyberOptics Corp.(a) |
2,146 | 115,412 | ||||||
|
Diodes, Inc.(a) |
11,033 | 716,152 | ||||||
|
Enphase Energy, Inc.(a) |
34,675 | 9,621,272 | ||||||
|
Entegris, Inc. |
38,799 | 3,221,093 | ||||||
|
First Solar, Inc.(a) |
27,696 | 3,663,350 | ||||||
|
FormFactor, Inc.(a) |
20,483 | 513,099 | ||||||
|
GLOBALFOUNDRIES, Inc.(a)(b) |
16,457 | 795,696 | ||||||
|
Ichor Holdings Ltd.(a) |
7,349 | 177,919 | ||||||
|
Impinj, Inc.(a)(b) |
4,729 | 378,462 | ||||||
|
indie Semiconductor, Inc., Class A(a) |
32,904 | 240,857 | ||||||
|
Intel Corp. |
1,083,795 | 27,929,397 | ||||||
|
KLA Corp. |
37,557 | 11,365,875 | ||||||
|
Kulicke & Soffa Industries, Inc. |
15,131 | 582,998 | ||||||
|
Lam Research Corp. |
36,157 | 13,233,462 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
25 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Semiconductors & Semiconductor Equipment (continued) | ||||||||
|
Lattice Semiconductor Corp.(a)(b) |
35,521 | $ | 1,747,988 | |||||
|
MACOM Technology Solutions Holdings, Inc.(a) |
13,181 | 682,644 | ||||||
|
Marvell Technology, Inc. |
224,152 | 9,618,362 | ||||||
|
MaxLinear, Inc.(a) |
18,820 | 613,908 | ||||||
|
Microchip Technology, Inc. |
141,909 | 8,660,706 | ||||||
|
Micron Technology, Inc. |
292,214 | 14,639,921 | ||||||
|
MKS Instruments, Inc. |
14,517 | 1,199,685 | ||||||
|
Monolithic Power Systems, Inc. |
11,902 | 4,325,187 | ||||||
|
NVIDIA Corp. |
637,104 | 77,338,055 | ||||||
|
ON Semiconductor Corp.(a) |
114,047 | 7,108,550 | ||||||
|
Onto Innovation, Inc.(a) |
12,303 | 788,007 | ||||||
|
PDF Solutions, Inc.(a) |
10,151 | 249,004 | ||||||
|
Photronics, Inc.(a) |
16,299 | 238,291 | ||||||
|
Power Integrations, Inc. |
15,691 | 1,009,245 | ||||||
|
Qorvo, Inc.(a) |
28,343 | 2,250,718 | ||||||
|
QUALCOMM, Inc. |
295,681 | 33,406,039 | ||||||
|
Rambus, Inc.(a) |
27,451 | 697,804 | ||||||
|
Semtech Corp.(a) |
16,602 | 488,265 | ||||||
|
Silicon Laboratories, Inc.(a) |
9,004 | 1,111,454 | ||||||
|
SiTime Corp.(a) |
4,317 | 339,877 | ||||||
|
Skyworks Solutions, Inc. |
43,164 | 3,680,594 | ||||||
|
SMART Global Holdings, Inc.(a) |
14,161 | 224,735 | ||||||
|
Synaptics, Inc.(a) |
10,293 | 1,019,110 | ||||||
|
Teradyne, Inc. |
42,249 | 3,175,012 | ||||||
|
Texas Instruments, Inc. |
242,626 | 37,553,652 | ||||||
|
Ultra Clean Holdings, Inc.(a) |
11,541 | 297,181 | ||||||
|
Universal Display Corp. |
11,847 | 1,117,765 | ||||||
|
Veeco Instruments, Inc.(a)(b) |
11,276 | 206,576 | ||||||
|
Wolfspeed, Inc.(a)(b) |
31,093 | 3,213,773 | ||||||
|
|
|
|||||||
| 405,205,727 | ||||||||
| Software — 8.8% | ||||||||
|
8x8, Inc.(a) |
28,207 | 97,314 | ||||||
|
A10 Networks, Inc. |
14,972 | 198,678 | ||||||
|
ACI Worldwide, Inc.(a) |
31,823 | 665,101 | ||||||
|
Adeia, Inc. |
28,129 | 397,744 | ||||||
|
Adobe, Inc.(a) |
124,977 | 34,393,670 | ||||||
|
Agilysys, Inc.(a) |
6,726 | 372,284 | ||||||
|
Alarm.com Holdings, Inc.(a) |
12,252 | 794,665 | ||||||
|
Alkami Technology, Inc.(a)(b) |
7,466 | 112,363 | ||||||
|
Altair Engineering, Inc., Class A(a)(b) |
14,054 | 621,468 | ||||||
|
Alteryx, Inc., Class A(a)(b) |
15,571 | 869,485 | ||||||
|
American Software, Inc., Class A |
8,843 | 135,475 | ||||||
|
Amplitude, Inc., Class A(a) |
17,276 | 267,260 | ||||||
|
ANSYS, Inc.(a) |
22,961 | 5,090,454 | ||||||
|
Appfolio, Inc., Class A(a)(b) |
4,810 | 503,703 | ||||||
|
Appian Corp., Class A(a)(b) |
10,345 | 422,386 | ||||||
|
AppLovin Corp., Class A(a) |
59,829 | 1,166,067 | ||||||
|
Asana, Inc., Class A(a)(b) |
19,762 | 439,309 | ||||||
|
Aspen Technology, Inc.(a) |
6,891 | 1,641,436 | ||||||
|
Atlassian Corp. PLC, Class A(a) |
36,307 | 7,645,891 | ||||||
|
Autodesk, Inc.(a) |
57,463 | 10,734,088 | ||||||
|
Avalara, Inc.(a) |
22,513 | 2,066,693 | ||||||
|
AvePoint, Inc.(a)(b) |
39,384 | 157,930 | ||||||
|
Bentley Systems, Inc., Class B(b) |
45,747 | 1,399,401 | ||||||
|
Bill.com Holdings, Inc.(a)(b) |
25,923 | 3,431,428 | ||||||
|
Black Knight, Inc.(a) |
41,142 | 2,663,122 | ||||||
|
Blackbaud, Inc.(a) |
12,894 | 568,110 | ||||||
|
Blackline, Inc.(a) |
14,936 | 894,666 | ||||||
|
Blend Labs, Inc., Class A(a) |
60,407 | 133,499 | ||||||
|
Box, Inc., Class A(a)(b) |
34,294 | 836,431 | ||||||
|
BTRS Holdings, Inc., Class 1(a) |
18,226 | 168,773 | ||||||
|
C3.ai, Inc., Class A(a)(b) |
15,678 | 195,975 | ||||||
| Security | Shares | Value | ||||||
| Software (continued) | ||||||||
|
Cadence Design Systems, Inc.(a) |
72,010 | $ | 11,768,594 | |||||
|
CCC Intelligent Solutions Holdings, Inc.(a)(b) |
46,343 | 421,721 | ||||||
|
Cerence, Inc.(a) |
9,966 | 156,964 | ||||||
|
Ceridian HCM Holding, Inc.(a)(b) |
37,515 | 2,096,338 | ||||||
|
ChannelAdvisor Corp.(a) |
5,040 | 114,206 | ||||||
|
Citrix Systems, Inc.(a) |
33,434 | 3,473,793 | ||||||
|
Clear Secure, Inc., Class A(a)(b) |
16,686 | 381,442 | ||||||
|
CommVault Systems, Inc.(a) |
11,189 | 593,465 | ||||||
|
Confluent, Inc., Class A(a)(b) |
33,841 | 804,401 | ||||||
|
Consensus Cloud Solutions, Inc.(a) |
3,816 | 180,497 | ||||||
|
Couchbase, Inc.(a) |
9,455 | 134,923 | ||||||
|
Coupa Software, Inc.(a) |
19,649 | 1,155,361 | ||||||
|
Crowdstrike Holdings, Inc., Class A(a)(b) |
55,627 | 9,167,886 | ||||||
|
CS Disco, Inc.(a) |
9,745 | 97,450 | ||||||
|
Cvent Holding Corp.(a)(b) |
25,280 | 132,720 | ||||||
|
Datadog, Inc., Class A(a) |
70,489 | 6,258,013 | ||||||
|
Digital Turbine, Inc.(a)(b) |
22,699 | 327,093 | ||||||
|
DocuSign, Inc.(a)(b) |
52,744 | 2,820,222 | ||||||
|
Dolby Laboratories, Inc., Class A |
15,300 | 996,795 | ||||||
|
Domo, Inc., Class B(a) |
6,923 | 124,545 | ||||||
|
DoubleVerify Holdings, Inc.(a)(b) |
18,161 | 496,703 | ||||||
|
Dropbox, Inc., Class A(a) |
75,260 | 1,559,387 | ||||||
|
Duck Creek Technologies, Inc.(a)(b) |
19,642 | 232,758 | ||||||
|
Dynatrace, Inc.(a)(b) |
52,008 | 1,810,398 | ||||||
|
E2open Parent Holdings, Inc.(a) |
54,063 | 328,162 | ||||||
|
Ebix, Inc. |
6,836 | 129,679 | ||||||
|
Elastic NV(a) |
21,362 | 1,532,510 | ||||||
|
Enfusion, Inc., Class A(a)(b) |
8,096 | 99,905 | ||||||
|
EngageSmart, Inc.(a)(b) |
11,630 | 240,625 | ||||||
|
Envestnet, Inc.(a) |
14,799 | 657,076 | ||||||
|
Everbridge, Inc.(a) |
9,670 | 298,610 | ||||||
|
Fair Isaac Corp.(a) |
6,517 | 2,685,069 | ||||||
|
Five9, Inc.(a) |
17,824 | 1,336,444 | ||||||
|
ForgeRock, Inc., Class A(a) |
9,343 | 135,754 | ||||||
|
Fortinet, Inc.(a) |
169,780 | 8,341,291 | ||||||
|
Guidewire Software, Inc.(a) |
21,901 | 1,348,664 | ||||||
|
HubSpot, Inc.(a) |
11,952 | 3,228,474 | ||||||
|
Informatica, Inc., Class A(a)(b) |
8,831 | 177,238 | ||||||
|
Instructure Holdings, Inc.(a)(b) |
5,230 | 116,524 | ||||||
|
InterDigital, Inc. |
8,930 | 360,951 | ||||||
|
Intuit, Inc. |
72,943 | 28,252,283 | ||||||
|
Jamf Holding Corp.(a)(b) |
18,036 | 399,678 | ||||||
|
KnowBe4, Inc., Class A(a) |
19,966 | 415,492 | ||||||
|
LivePerson, Inc.(a)(b) |
16,592 | 156,297 | ||||||
|
LiveRamp Holdings, Inc.(a) |
16,733 | 303,871 | ||||||
|
Manhattan Associates, Inc.(a) |
16,568 | 2,204,041 | ||||||
|
Marathon Digital Holdings, Inc.(a)(b) |
24,990 | 267,643 | ||||||
|
Matterport, Inc.(a)(b) |
65,575 | 248,529 | ||||||
|
MeridianLink, Inc.(a) |
6,070 | 98,820 | ||||||
|
Microsoft Corp. |
1,976,292 | 460,278,407 | ||||||
|
MicroStrategy, Inc., Class A(a)(b) |
2,554 | 542,112 | ||||||
|
Mitek Systems, Inc.(a)(b) |
10,999 | 100,751 | ||||||
|
Model N, Inc.(a) |
9,671 | 331,038 | ||||||
|
Momentive Global, Inc.(a) |
32,179 | 186,960 | ||||||
|
N-able, Inc.(a)(b) |
18,025 | 166,371 | ||||||
|
nCino, Inc.(a)(b) |
20,450 | 697,549 | ||||||
|
NCR Corp.(a) |
33,669 | 640,048 | ||||||
|
New Relic, Inc.(a) |
13,815 | 792,705 | ||||||
|
NortonLifeLock, Inc. |
153,825 | 3,098,035 | ||||||
|
Nutanix, Inc., Class A(a) |
55,655 | 1,159,294 | ||||||
|
Olo, Inc., Class A(a)(b) |
26,834 | 211,989 | ||||||
|
ON24, Inc.(a) |
15,196 | 133,725 | ||||||
| 26 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Software (continued) | ||||||||
|
OneSpan, Inc.(a) |
11,029 | $ | 94,960 | |||||
|
Oracle Corp. |
398,906 | 24,361,189 | ||||||
|
PagerDuty, Inc.(a)(b) |
21,299 | 491,368 | ||||||
|
Palantir Technologies, Inc., Class A(a)(b) |
483,578 | 3,931,489 | ||||||
|
Palo Alto Networks, Inc.(a) |
78,004 | 12,776,275 | ||||||
|
Paycom Software, Inc.(a) |
13,578 | 4,480,604 | ||||||
|
Paycor HCM, Inc.(a)(b) |
12,647 | 373,845 | ||||||
|
Paylocity Holding Corp.(a) |
10,458 | 2,526,444 | ||||||
|
Pegasystems, Inc. |
11,015 | 354,022 | ||||||
|
Ping Identity Holding Corp.(a) |
21,421 | 601,287 | ||||||
|
Procore Technologies, Inc.(a) |
20,200 | 999,496 | ||||||
|
Progress Software Corp. |
11,784 | 501,409 | ||||||
|
PROS Holdings, Inc.(a) |
11,829 | 292,176 | ||||||
|
PTC, Inc.(a) |
28,152 | 2,944,699 | ||||||
|
Q2 Holdings, Inc.(a)(b) |
14,846 | 478,041 | ||||||
|
Qualys, Inc.(a) |
10,030 | 1,398,082 | ||||||
|
Rapid7, Inc.(a) |
15,233 | 653,496 | ||||||
|
RingCentral, Inc., Class A(a) |
24,505 | 979,220 | ||||||
|
Riot Blockchain, Inc.(a)(b) |
40,716 | 285,419 | ||||||
|
Roper Technologies, Inc. |
27,859 | 10,019,211 | ||||||
|
Salesforce, Inc.(a) |
254,869 | 36,660,357 | ||||||
|
Sapiens International Corp. NV |
6,902 | 132,380 | ||||||
|
SentinelOne, Inc., Class A(a)(b) |
50,997 | 1,303,483 | ||||||
|
ServiceNow, Inc.(a)(b) |
53,049 | 20,031,833 | ||||||
|
Smartsheet, Inc., Class A(a) |
32,063 | 1,101,685 | ||||||
|
Splunk, Inc.(a) |
42,186 | 3,172,387 | ||||||
|
Sprout Social, Inc., Class A(a)(b) |
11,666 | 707,893 | ||||||
|
SPS Commerce, Inc.(a)(b) |
9,162 | 1,138,195 | ||||||
|
Sumo Logic, Inc.(a) |
22,778 | 170,835 | ||||||
|
Synopsys, Inc.(a) |
40,250 | 12,296,777 | ||||||
|
Telos Corp.(a) |
10,720 | 95,301 | ||||||
|
Tenable Holdings, Inc.(a) |
28,951 | 1,007,495 | ||||||
|
Teradata Corp.(a) |
26,393 | 819,767 | ||||||
|
Trade Desk, Inc., Class A(a) |
116,290 | 6,948,327 | ||||||
|
Tyler Technologies, Inc.(a) |
11,097 | 3,856,207 | ||||||
|
UiPath, Inc., Class A(a) |
100,299 | 1,264,770 | ||||||
|
Unity Software, Inc.(a)(b) |
55,878 | 1,780,273 | ||||||
|
Varonis Systems, Inc.(a)(b) |
27,561 | 730,918 | ||||||
|
Verint Systems, Inc.(a) |
17,834 | 598,866 | ||||||
|
VMware, Inc., Class A |
54,951 | 5,850,083 | ||||||
|
Workday, Inc., Class A(a) |
52,519 | 7,994,442 | ||||||
|
Workiva, Inc.(a) |
13,112 | 1,020,114 | ||||||
|
Yext, Inc.(a) |
25,618 | 114,256 | ||||||
|
Zendesk, Inc.(a) |
32,389 | 2,464,803 | ||||||
|
Zeta Global Holdings Corp., Class A(a)(b) |
30,822 | 203,733 | ||||||
|
Zoom
Video Communications, Inc., |
66,937 | 4,925,894 | ||||||
|
Zscaler, Inc.(a) |
22,245 | 3,656,411 | ||||||
|
Zuora, Inc., Class A(a)(b) |
29,557 | 218,131 | ||||||
|
|
|
|||||||
| 834,901,506 | ||||||||
| Specialty Retail — 2.2% | ||||||||
|
Aaron’s Co., Inc. |
9,346 | 90,843 | ||||||
|
Abercrombie & Fitch Co., Class A(a) |
14,264 | 221,805 | ||||||
|
Academy Sports & Outdoors, Inc. |
22,620 | 954,112 | ||||||
|
Advance Auto Parts, Inc. |
16,517 | 2,582,268 | ||||||
|
American Eagle Outfitters, Inc. |
39,001 | 379,480 | ||||||
|
America’s Car-Mart, Inc.(a) |
1,962 | 119,721 | ||||||
|
Arko Corp. |
18,737 | 175,940 | ||||||
|
Asbury Automotive Group, Inc.(a) |
5,947 | 898,592 | ||||||
|
AutoNation, Inc.(a)(b) |
10,052 | 1,023,997 | ||||||
|
AutoZone, Inc.(a) |
5,152 | 11,035,223 | ||||||
|
Bath & Body Works, Inc. |
61,473 | 2,004,020 | ||||||
|
Bed Bath & Beyond, Inc.(a)(b) |
28,401 | 172,962 | ||||||
| Security | Shares | Value | ||||||
| Specialty Retail (continued) | ||||||||
|
Best Buy Co., Inc. |
53,482 | $ | 3,387,550 | |||||
|
Boot Barn Holdings, Inc.(a)(b) |
8,209 | 479,898 | ||||||
|
Buckle, Inc. |
6,822 | 215,985 | ||||||
|
Burlington Stores, Inc.(a) |
17,588 | 1,967,921 | ||||||
|
Caleres, Inc. |
10,726 | 259,784 | ||||||
|
Camping World Holdings, Inc., Class A(b) |
10,951 | 277,279 | ||||||
|
CarMax, Inc.(a)(b) |
42,833 | 2,827,835 | ||||||
|
Carvana Co.(a)(b) |
29,207 | 592,902 | ||||||
|
Chico’s FAS, Inc.(a)(b) |
32,211 | 155,901 | ||||||
|
Children’s Place, Inc.(a) |
3,257 | 100,609 | ||||||
|
Designer Brands, Inc., Class A(b) |
17,793 | 272,411 | ||||||
|
Dick’s Sporting Goods, Inc.(b) |
14,952 | 1,564,577 | ||||||
|
EVgo, Inc.(a)(b) |
20,787 | 164,425 | ||||||
|
Five Below, Inc.(a)(b) |
14,681 | 2,021,133 | ||||||
|
Floor & Decor Holdings, Inc., Class A(a)(b) |
26,843 | 1,885,989 | ||||||
|
Foot Locker, Inc. |
20,892 | 650,368 | ||||||
|
GameStop Corp., Class A(a)(b) |
71,494 | 1,796,644 | ||||||
|
Gap, Inc. |
53,447 | 438,800 | ||||||
|
Genesco, Inc.(a) |
3,208 | 126,139 | ||||||
|
Group 1 Automotive, Inc. |
4,380 | 625,771 | ||||||
|
GrowGeneration Corp.(a)(b) |
28,177 | 98,620 | ||||||
|
Guess?, Inc. |
9,599 | 140,817 | ||||||
|
Haverty Furniture Cos., Inc. |
4,607 | 114,714 | ||||||
|
Hibbett, Inc. |
4,211 | 209,750 | ||||||
|
Home Depot, Inc. |
273,104 | 75,360,318 | ||||||
|
Leslie’s, Inc.(a)(b) |
41,990 | 617,673 | ||||||
|
Lithia Motors, Inc. |
7,459 | 1,600,328 | ||||||
|
Lowe’s Cos., Inc. |
168,795 | 31,701,389 | ||||||
|
MarineMax, Inc.(a) |
5,322 | 158,542 | ||||||
|
Monro, Inc. |
8,449 | 367,194 | ||||||
|
Murphy USA, Inc.(b) |
5,562 | 1,529,049 | ||||||
|
National Vision Holdings, Inc.(a)(b) |
20,747 | 677,390 | ||||||
|
ODP Corp.(a) |
11,856 | 416,738 | ||||||
|
OneWater Marine, Inc., Class A(a) |
3,390 | 102,073 | ||||||
|
O’Reilly Automotive, Inc.(a) |
16,597 | 11,673,500 | ||||||
|
Penske Automotive Group, Inc.(b) |
7,059 | 694,817 | ||||||
|
Petco Health & Wellness Co., Inc.(a)(b) |
23,508 | 262,349 | ||||||
|
Rent-A-Center, Inc. |
17,108 | 299,561 | ||||||
|
RH(a)(b) |
5,693 | 1,400,877 | ||||||
|
Ross Stores, Inc. |
91,329 | 7,696,295 | ||||||
|
Sally Beauty Holdings, Inc.(a) |
27,859 | 351,023 | ||||||
|
Shoe Carnival, Inc. |
5,555 | 119,099 | ||||||
|
Signet Jewelers Ltd. |
13,291 | 760,112 | ||||||
|
Sleep Number Corp.(a) |
5,806 | 196,301 | ||||||
|
Sonic Automotive, Inc., Class A |
5,601 | 242,523 | ||||||
|
Sportsman’s Warehouse Holdings, Inc.(a) |
13,384 | 111,087 | ||||||
|
TJX Cos., Inc. |
309,031 | 19,197,006 | ||||||
|
Tractor Supply Co. |
29,467 | 5,477,326 | ||||||
|
TravelCenters of America, Inc.(a) |
4,072 | 219,603 | ||||||
|
Ulta Beauty, Inc.(a) |
13,577 | 5,446,957 | ||||||
|
Urban Outfitters, Inc.(a)(b) |
18,901 | 371,405 | ||||||
|
Victoria’s Secret & Co.(a) |
20,462 | 595,853 | ||||||
|
Volta, Inc.(a)(b) |
60,989 | 73,797 | ||||||
|
Warby Parker, Inc., Class A(a)(b) |
25,971 | 346,453 | ||||||
|
Williams-Sonoma, Inc. |
18,627 | 2,195,192 | ||||||
|
Winmark Corp. |
778 | 168,313 | ||||||
|
Zumiez, Inc.(a) |
5,426 | 116,822 | ||||||
|
|
|
|||||||
| 210,581,750 | ||||||||
| Technology Hardware, Storage & Peripherals — 6.2% | ||||||||
|
Apple Inc. |
4,039,600 | 558,272,720 | ||||||
|
Avid Technology, Inc.(a)(b) |
10,844 | 252,232 | ||||||
|
Corsair Gaming, Inc.(a)(b) |
10,258 | 116,428 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
27 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Technology Hardware, Storage & Peripherals (continued) | ||||||||
|
Dell Technologies, Inc., Class C |
69,612 | $ | 2,378,642 | |||||
|
Eastman Kodak Co.(a)(b) |
20,119 | 92,346 | ||||||
|
Hewlett Packard Enterprise Co. |
347,066 | 4,157,851 | ||||||
|
HP, Inc. |
275,973 | 6,877,247 | ||||||
|
IonQ, Inc.(a)(b) |
37,160 | 188,401 | ||||||
|
NetApp, Inc. |
58,901 | 3,643,027 | ||||||
|
Pure Storage, Inc., Class A(a) |
75,221 | 2,058,799 | ||||||
|
Super Micro Computer, Inc.(a) |
12,391 | 682,372 | ||||||
|
Western Digital Corp.(a) |
83,055 | 2,703,440 | ||||||
|
Xerox Holdings Corp. |
33,713 | 440,966 | ||||||
|
|
|
|||||||
| 581,864,471 | ||||||||
| Textiles, Apparel & Luxury Goods — 0.6% | ||||||||
|
Allbirds, Inc., Class A(a)(b) |
34,138 | 103,779 | ||||||
|
Capri Holdings Ltd.(a) |
36,232 | 1,392,758 | ||||||
|
Carter’s, Inc. |
9,866 | 646,519 | ||||||
|
Columbia Sportswear Co. |
10,052 | 676,500 | ||||||
|
Crocs, Inc.(a) |
15,294 | 1,050,086 | ||||||
|
Deckers Outdoor Corp.(a) |
6,737 | 2,106,053 | ||||||
|
Ermenegildo Zegna NV(b) |
16,768 | 180,256 | ||||||
|
G-III Apparel Group Ltd.(a) |
11,288 | 168,756 | ||||||
|
Hanesbrands, Inc. |
95,528 | 664,875 | ||||||
|
Kontoor Brands, Inc. |
14,201 | 477,296 | ||||||
|
Lululemon Athletica, Inc.(a) |
29,415 | 8,223,257 | ||||||
|
Movado Group, Inc. |
4,370 | 123,147 | ||||||
|
Nike, Inc., Class B |
323,305 | 26,873,112 | ||||||
|
Oxford Industries, Inc. |
4,616 | 414,424 | ||||||
|
PVH Corp. |
19,087 | 855,098 | ||||||
|
Ralph Lauren Corp. |
10,997 | 933,975 | ||||||
|
Skechers USA, Inc., Class A(a) |
35,130 | 1,114,324 | ||||||
|
Steven Madden Ltd. |
22,272 | 593,994 | ||||||
|
Tapestry, Inc. |
69,016 | 1,962,125 | ||||||
|
Under Armour, Inc., Class A(a) |
50,453 | 335,512 | ||||||
|
Under Armour, Inc., Class C, NVS(a) |
51,345 | 306,016 | ||||||
|
VF Corp. |
92,841 | 2,776,874 | ||||||
|
Wolverine World Wide, Inc. |
22,677 | 348,999 | ||||||
|
|
|
|||||||
| 52,327,735 | ||||||||
| Thrifts & Mortgage Finance — 0.1% | ||||||||
|
Axos Financial, Inc.(a)(b) |
15,362 | 525,841 | ||||||
|
Blue Foundry Bancorp.(a)(b) |
8,892 | 99,146 | ||||||
|
Bridgewater Bancshares, Inc.(a) |
8,199 | 135,037 | ||||||
|
Capitol Federal Financial, Inc. |
39,520 | 328,016 | ||||||
|
Columbia Financial, Inc.(a)(b) |
8,640 | 182,563 | ||||||
|
Enact Holdings, Inc. |
8,522 | 188,933 | ||||||
|
Essent Group Ltd. |
29,365 | 1,023,958 | ||||||
|
Federal Agricultural Mortgage Corp., Class C, NVS |
2,533 | 251,122 | ||||||
|
Flagstar Bancorp, Inc. |
14,392 | 480,693 | ||||||
|
Hingham Institution For Savings |
469 | 117,771 | ||||||
|
Home Bancorp., Inc. |
2,910 | 113,461 | ||||||
|
Kearny Financial Corp. |
15,716 | 166,904 | ||||||
|
Merchants Bancorp. |
5,221 | 120,448 | ||||||
|
MGIC Investment Corp. |
89,295 | 1,144,762 | ||||||
|
Mr Cooper Group, Inc.(a) |
18,840 | 763,020 | ||||||
|
New York Community Bancorp, Inc. |
130,712 | 1,114,973 | ||||||
|
NMI Holdings, Inc., Class A(a) |
22,247 | 453,171 | ||||||
|
Northfield Bancorp, Inc. |
13,544 | 193,815 | ||||||
|
PennyMac Financial Services, Inc. |
6,786 | 291,119 | ||||||
|
Provident Financial Services, Inc. |
21,816 | 425,412 | ||||||
|
Radian Group, Inc. |
44,881 | 865,754 | ||||||
|
Rocket Cos., Inc., Class A(b) |
31,141 | 196,811 | ||||||
|
Southern Missouri Bancorp., Inc. |
2,568 | 131,045 | ||||||
|
TFS Financial Corp. |
15,259 | 198,367 | ||||||
| Security | Shares | Value | ||||||
| Thrifts & Mortgage Finance (continued) | ||||||||
|
TrustCo Bank Corp. |
5,288 | $ | 166,149 | |||||
|
UWM Holdings Corp.(b) |
28,459 | 83,385 | ||||||
|
Walker & Dunlop, Inc. |
7,898 | 661,300 | ||||||
|
Waterstone Financial, Inc. |
8,306 | 134,225 | ||||||
|
WSFS Financial Corp. |
16,822 | 781,550 | ||||||
|
|
|
|||||||
| 11,338,751 | ||||||||
| Tobacco — 0.6% | ||||||||
|
Altria Group, Inc. |
480,147 | 19,388,336 | ||||||
|
Philip Morris International, Inc. |
409,443 | 33,987,863 | ||||||
|
Turning Point Brands, Inc. |
6,125 | 130,034 | ||||||
|
Universal Corp. |
6,678 | 307,455 | ||||||
|
Vector Group Ltd. |
41,347 | 364,267 | ||||||
|
|
|
|||||||
| 54,177,955 | ||||||||
| Trading Companies & Distributors — 0.4% | ||||||||
|
Air Lease Corp., Class A |
28,481 | 883,196 | ||||||
|
Alta Equipment Group, Inc. |
8,982 | 98,892 | ||||||
|
Applied Industrial Technologies, Inc. |
9,908 | 1,018,344 | ||||||
|
Beacon Roofing Supply, Inc.(a) |
14,330 | 784,138 | ||||||
|
BlueLinx Holdings, Inc.(a)(b) |
2,295 | 142,519 | ||||||
|
Boise Cascade Co. |
9,671 | 575,038 | ||||||
|
Core & Main, Inc., Class A(a) |
14,881 | 338,394 | ||||||
|
Custom Truck One Source, Inc.(a)(b) |
17,285 | 100,772 | ||||||
|
DXP Enterprises, Inc.(a) |
5,436 | 128,724 | ||||||
|
Fastenal Co. |
152,974 | 7,042,923 | ||||||
|
GATX Corp. |
9,063 | 771,714 | ||||||
|
Global Industrial Co. |
3,975 | 106,649 | ||||||
|
GMS, Inc.(a) |
11,207 | 448,392 | ||||||
|
H&E Equipment Services, Inc. |
8,174 | 231,651 | ||||||
|
Herc Holdings, Inc. |
6,342 | 658,807 | ||||||
|
McGrath RentCorp |
6,175 | 517,835 | ||||||
|
MRC Global, Inc.(a)(b) |
23,430 | 168,462 | ||||||
|
MSC Industrial Direct Co., Inc., Class A |
12,396 | 902,553 | ||||||
|
NOW, Inc.(a) |
27,777 | 279,159 | ||||||
|
Rush Enterprises, Inc., Class A |
10,357 | 454,258 | ||||||
|
Rush Enterprises, Inc., Class B |
2,240 | 107,318 | ||||||
|
SiteOne Landscape Supply, Inc.(a) |
11,543 | 1,202,088 | ||||||
|
Textainer Group Holdings Ltd. |
11,937 | 320,628 | ||||||
|
Titan Machinery, Inc.(a) |
5,741 | 162,241 | ||||||
|
Transcat, Inc.(a)(b) |
1,409 | 106,647 | ||||||
|
Triton International Ltd. |
16,915 | 925,758 | ||||||
|
United Rentals, Inc.(a) |
18,645 | 5,036,387 | ||||||
|
Univar Solutions, Inc.(a) |
46,194 | 1,050,452 | ||||||
|
Veritiv Corp.(a) |
3,533 | 345,421 | ||||||
|
Watsco, Inc. |
8,557 | 2,203,085 | ||||||
|
WESCO International, Inc.(a) |
11,691 | 1,395,672 | ||||||
|
WW Grainger, Inc. |
11,879 | 5,811,088 | ||||||
|
|
|
|||||||
| 34,319,205 | ||||||||
| Water Utilities — 0.1% | ||||||||
|
American States Water Co. |
10,241 | 798,286 | ||||||
|
American Water Works Co., Inc. |
47,836 | 6,226,334 | ||||||
|
Artesian Resources Corp., Class A, NVS |
2,910 | 140,029 | ||||||
|
California Water Service Group |
13,363 | 704,096 | ||||||
|
Essential Utilities, Inc. |
61,045 | 2,526,042 | ||||||
|
Middlesex Water Co. |
5,085 | 392,562 | ||||||
|
SJW Group |
7,702 | 443,635 | ||||||
|
York Water Co. |
3,311 | 127,242 | ||||||
|
|
|
|||||||
| 11,358,226 | ||||||||
| Wireless Telecommunication Services — 0.2% | ||||||||
|
Gogo, Inc.(a) |
8,323 | 100,875 | ||||||
|
Shenandoah Telecommunications Co. |
13,363 | 227,438 | ||||||
| 28 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF (Percentages shown are based on Net Assets |
| Security | Shares | Value | ||||||
|
|
||||||||
| Wireless Telecommunication Services (continued) | ||||||||
|
Telephone & Data Systems, Inc. |
27,693 | $ | 384,932 | |||||
|
T-Mobile U.S., Inc.(a) |
157,775 | 21,168,672 | ||||||
|
|
|
|||||||
| 21,881,917 | ||||||||
|
|
|
|||||||
|
Total
Common Stocks — 99.8% |
9,424,113,161 | |||||||
|
|
|
|||||||
|
Rights |
||||||||
| Biotechnology — 0.0% | ||||||||
|
Aduro Biotech CVR, Expires 01/02/24(d) |
4,039 | 10,255 | ||||||
|
GTX INC Contingent Rights, Expires 06/10/34(b)(d) |
684 | 701 | ||||||
|
|
|
|||||||
| 10,956 | ||||||||
| Pharmaceuticals — 0.0% | ||||||||
|
Zogenix, Inc.(b)(d) |
15,050 | 10,234 | ||||||
|
|
|
|||||||
|
Total
Rights — 0.0% |
21,190 | |||||||
|
|
|
|||||||
|
Warrants(a) |
||||||||
| Oil, Gas & Consumable Fuels — 0.0% | ||||||||
|
Chord Energy Corp. (Issued/Exercisable, Expires 09/01/24, Strike Price USD 73.44)(b) |
409 | 8,793 | ||||||
|
Chord Energy Corp. (Issued/Exercisable, Expires 09/01/25, Strike Price USD 83.45) |
204 | 4,262 | ||||||
|
|
|
|||||||
| 13,055 | ||||||||
|
|
|
|||||||
|
Total
Warrants — 0.0% |
13,055 | |||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 99.8% |
9,424,147,406 | |||||||
|
|
|
|||||||
| Security | Shares | Value | ||||||
|
|
||||||||
|
Short-Term Securities(c)(e) |
||||||||
| Money Market Funds — 3.3% | ||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.18%(f) |
305,098,562 | $ | 305,190,092 | |||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.81% |
9,027,199 | 9,027,199 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 3.3% |
314,217,291 | |||||||
|
|
|
|||||||
|
Total
Investments — 103.1% |
9,738,364,697 | |||||||
|
Liabilities in Excess of Other Assets — (3.1)% |
|
(294,192,890 | ) | |||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 9,444,171,807 | ||||||
|
|
|
|||||||
| (a) |
Non-income producing security. |
| (b) |
All or a portion of this security is on loan. |
| (c) |
Affiliate of the Fund. |
| (d) |
Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (e) |
Annualized 7-day yield as of period end. |
| (f) |
All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the six months ended September 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer | Value at 03/31/22 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change
in Unrealized Appreciation (Depreciation) |
Value
at 09/30/22 |
Shares Held at 09/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
|
||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 231,125,019 | $ | 73,908,568 | (a) | $ | — | $ | 474 | $ | 156,031 | $ | 305,190,092 | 305,098,562 | $ | 1,195,280 | (b) | $ | — | |||||||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
19,635,000 | — | (10,607,801 | )(a) | — | — | 9,027,199 | 9,027,199 | 111,223 | — | ||||||||||||||||||||||||||||||||
|
BlackRock, Inc |
29,068,263 | 2,461,879 | (1,463,864 | ) | 646,091 | (8,888,814 | ) | 21,823,555 | 39,659 | 378,127 | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| $ | 646,565 | $ | (8,732,783 | ) | $ | 336,040,846 | $ | 1,684,630 | $ | — | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
| (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. |
|
S C H E D U L E S O F I N V E S T M E N T S |
29 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| Description |
Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
||||||||||||
|
Long Contracts |
||||||||||||||||
|
Russel 2000 E-Mini Index |
36 | 12/16/22 | $ | 3,005 | $ | (234,689 | ) | |||||||||
|
S&P 500 E-Mini Index |
104 | 12/16/22 | 18,728 | (1,528,721 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (1,763,410 | ) | ||||||||||||||
|
|
|
|||||||||||||||
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 | ||||||||||||||||||||||
|
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
|
Futures contracts |
||||||||||||||||||||||||||||
|
Unrealized depreciation on futures contracts(a) |
$ | — | $ | — | $ | 1,763,410 | $ | — | $ | — | $ | — | $ | 1,763,410 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts, if any, are reported in the Schedule of Investments. In the Statement 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, 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 |
$ | — | $ | — | $ | (2,472,030 | ) | $ | — | $ | — | $ | — | $ | (2,472,030 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
Net Change in Unrealized Appreciation (Depreciation) on |
||||||||||||||||||||||||||||
|
Futures contracts |
$ | — | $ | — | $ | (2,863,212 | ) | $ | — | $ | — | $ | — | $ | (2,863,212 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
Futures contracts |
||||
|
Average notional value of contracts — long |
$ | 21,190,720 | ||
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.
| 30 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF |
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 |
||||||||||||||||
|
Aerospace & Defense |
$ | 149,473,842 | $ | — | $ | — | $ | 149,473,842 | ||||||||
|
Air Freight & Logistics |
51,225,961 | — | — | 51,225,961 | ||||||||||||
|
Airlines |
18,633,311 | — | — | 18,633,311 | ||||||||||||
|
Auto Components |
19,143,691 | — | — | 19,143,691 | ||||||||||||
|
Automobiles |
212,160,316 | — | — | 212,160,316 | ||||||||||||
|
Banks |
381,485,287 | — | — | 381,485,287 | ||||||||||||
|
Beverages |
152,925,917 | — | — | 152,925,917 | ||||||||||||
|
Biotechnology |
258,933,871 | — | — | 258,933,871 | ||||||||||||
|
Building Products |
56,517,204 | — | — | 56,517,204 | ||||||||||||
|
Capital Markets |
289,650,977 | — | — | 289,650,977 | ||||||||||||
|
Chemicals |
167,494,613 | — | — | 167,494,613 | ||||||||||||
|
Commercial Services & Supplies |
55,843,856 | — | — | 55,843,856 | ||||||||||||
|
Communications Equipment |
74,622,134 | — | — | 74,622,134 | ||||||||||||
|
Construction & Engineering |
21,572,925 | — | — | 21,572,925 | ||||||||||||
|
Construction Materials |
12,574,921 | — | — | 12,574,921 | ||||||||||||
|
Consumer Finance |
51,323,956 | — | — | 51,323,956 | ||||||||||||
|
Containers & Packaging |
32,828,852 | 42,020 | — | 32,870,872 | ||||||||||||
|
Distributors |
12,165,072 | — | — | 12,165,072 | ||||||||||||
|
Diversified Consumer Services |
13,284,352 | — | — | 13,284,352 | ||||||||||||
|
Diversified Financial Services |
138,444,789 | — | — | 138,444,789 | ||||||||||||
|
Diversified Telecommunication Services |
78,503,113 | — | — | 78,503,113 | ||||||||||||
|
Electric Utilities |
170,523,681 | — | — | 170,523,681 | ||||||||||||
|
Electrical Equipment |
65,916,905 | — | — | 65,916,905 | ||||||||||||
|
Electronic Equipment, Instruments & Components |
66,262,954 | — | — | 66,262,954 | ||||||||||||
|
Energy Equipment & Services |
35,661,494 | — | — | 35,661,494 | ||||||||||||
|
Entertainment |
128,539,586 | — | — | 128,539,586 | ||||||||||||
|
Equity Real Estate Investment Trusts (REITs) |
305,080,780 | — | — | 305,080,780 | ||||||||||||
|
Food & Staples Retailing |
140,277,306 | — | — | 140,277,306 | ||||||||||||
|
Food Products |
107,560,384 | — | — | 107,560,384 | ||||||||||||
|
Gas Utilities |
14,014,047 | — | — | 14,014,047 | ||||||||||||
|
Health Care Equipment & Supplies |
254,549,356 | — | — | 254,549,356 | ||||||||||||
|
Health Care Providers & Services |
319,140,424 | — | — | 319,140,424 | ||||||||||||
|
Health Care Technology |
14,007,329 | — | — | 14,007,329 | ||||||||||||
|
Hotels, Restaurants & Leisure |
192,389,745 | — | — | 192,389,745 | ||||||||||||
|
Household Durables |
37,249,219 | — | — | 37,249,219 | ||||||||||||
|
Household Products |
116,163,758 | — | — | 116,163,758 | ||||||||||||
|
Independent Power and Renewable Electricity Producers |
10,545,118 | — | — | 10,545,118 | ||||||||||||
|
Industrial Conglomerates |
64,477,673 | — | — | 64,477,673 | ||||||||||||
|
Insurance |
222,191,716 | — | — | 222,191,716 | ||||||||||||
|
Interactive Media & Services |
396,061,181 | — | — | 396,061,181 | ||||||||||||
|
Internet & Direct Marketing Retail |
280,227,179 | — | — | 280,227,179 | ||||||||||||
|
IT Services |
417,943,687 | — | — | 417,943,687 | ||||||||||||
|
Leisure Products |
10,400,760 | — | — | 10,400,760 | ||||||||||||
|
Life Sciences Tools & Services |
168,531,652 | — | — | 168,531,652 | ||||||||||||
|
Machinery |
170,055,020 | — | — | 170,055,020 | ||||||||||||
|
Marine |
2,251,213 | — | — | 2,251,213 | ||||||||||||
|
Media |
74,269,939 | — | — | 74,269,939 | ||||||||||||
|
Metals & Mining |
48,929,886 | — | — | 48,929,886 | ||||||||||||
|
Mortgage Real Estate Investment Trusts (REITs) |
11,963,585 | — | — | 11,963,585 | ||||||||||||
|
Multiline Retail |
44,370,820 | — | — | 44,370,820 | ||||||||||||
|
Multi-Utilities |
75,967,272 | — | — | 75,967,272 | ||||||||||||
|
Oil, Gas & Consumable Fuels |
410,903,992 | — | — | 410,903,992 | ||||||||||||
|
Paper & Forest Products |
1,626,266 | — | — | 1,626,266 | ||||||||||||
|
Personal Products |
18,200,895 | — | — | 18,200,895 | ||||||||||||
|
Pharmaceuticals |
393,577,973 | — | — | 393,577,973 | ||||||||||||
|
Professional Services |
56,105,302 | — | — | 56,105,302 | ||||||||||||
|
Real Estate Management & Development |
13,902,077 | — | — | 13,902,077 | ||||||||||||
|
Road & Rail |
97,464,764 | — | — | 97,464,764 | ||||||||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
31 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 3000 ETF |
|
|
||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
|
||||||||||||||||
|
Common Stocks (continued) |
||||||||||||||||
|
Semiconductors & Semiconductor Equipment |
$ | 405,205,727 | $ | — | $ | — | $ | 405,205,727 | ||||||||
|
Software |
831,427,713 | 3,473,793 | — | 834,901,506 | ||||||||||||
|
Specialty Retail |
210,581,750 | — | — | 210,581,750 | ||||||||||||
|
Technology Hardware, Storage & Peripherals |
581,864,471 | — | — | 581,864,471 | ||||||||||||
|
Textiles, Apparel & Luxury Goods |
52,327,735 | — | — | 52,327,735 | ||||||||||||
|
Thrifts & Mortgage Finance |
11,338,751 | — | — | 11,338,751 | ||||||||||||
|
Tobacco |
54,177,955 | — | — | 54,177,955 | ||||||||||||
|
Trading Companies & Distributors |
34,319,205 | — | — | 34,319,205 | ||||||||||||
|
Water Utilities |
11,358,226 | — | — | 11,358,226 | ||||||||||||
|
Wireless Telecommunication Services |
21,881,917 | — | — | 21,881,917 | ||||||||||||
|
Rights |
— | — | 21,190 | 21,190 | ||||||||||||
|
Warrants |
13,055 | — | — | 13,055 | ||||||||||||
|
Short-Term
Securities |
314,217,291 | — | — | 314,217,291 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 9,734,827,694 | $ | 3,515,813 | $ | 21,190 | $ | 9,738,364,697 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative Financial Instruments(a) |
||||||||||||||||
|
Liabilities |
||||||||||||||||
|
Equity Contracts |
$ | (1,763,410 | ) | $ | — | $ | — | $ | (1,763,410 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 32 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
Common Stocks |
||||||||
| Aerospace & Defense — 1.2% | ||||||||
|
Axon Enterprise, Inc.(a)(b) |
32,050 | $ | 3,709,788 | |||||
|
BWX Technologies, Inc. |
116,877 | 5,887,095 | ||||||
|
Curtiss-Wright Corp. |
80,384 | 11,186,238 | ||||||
|
HEICO Corp. |
5,934 | 854,377 | ||||||
|
HEICO Corp., Class A |
10,428 | 1,195,257 | ||||||
|
Hexcel Corp. |
175,877 | 9,096,358 | ||||||
|
Howmet Aerospace, Inc. |
717,485 | 22,191,811 | ||||||
|
Huntington Ingalls Industries, Inc. |
64,427 | 14,270,581 | ||||||
|
Mercury Systems, Inc.(a) |
123,520 | 5,014,912 | ||||||
|
Spirit AeroSystems Holdings, Inc., Class A(b) |
11,195 | 245,394 | ||||||
|
Textron, Inc. |
446,689 | 26,024,101 | ||||||
|
TransDigm Group, Inc. |
66,581 | 34,943,040 | ||||||
|
Woodward, Inc. |
123,542 | 9,915,481 | ||||||
|
|
|
|||||||
| 144,534,433 | ||||||||
| Air Freight & Logistics — 0.4% | ||||||||
|
CH Robinson Worldwide, Inc. |
188,762 | 18,179,668 | ||||||
|
Expeditors International of Washington, Inc. |
238,259 | 21,040,653 | ||||||
|
GXO Logistics, Inc.(a) |
197,554 | 6,926,243 | ||||||
|
|
|
|||||||
| 46,146,564 | ||||||||
| Airlines — 0.8% | ||||||||
|
Alaska Air Group, Inc.(a) |
263,843 | 10,329,453 | ||||||
|
American Airlines Group, Inc.(a)(b) |
1,374,543 | 16,549,498 | ||||||
|
Copa Holdings SA, Class A, NVS(a)(b) |
60,657 | 4,064,626 | ||||||
|
JetBlue Airways Corp.(a)(b) |
690,719 | 4,579,467 | ||||||
|
Southwest Airlines Co.(a) |
1,250,635 | 38,569,583 | ||||||
|
United Airlines Holdings, Inc.(a)(b) |
691,654 | 22,499,505 | ||||||
|
|
|
|||||||
| 96,592,132 | ||||||||
| Auto Components — 0.7% | ||||||||
|
Aptiv PLC(a) |
427,930 | 33,468,405 | ||||||
|
BorgWarner, Inc. |
499,011 | 15,668,946 | ||||||
|
Gentex Corp. |
493,180 | 11,757,411 | ||||||
|
Lear Corp. |
124,913 | 14,950,837 | ||||||
|
QuantumScape Corp.(a)(b) |
537,096 | 4,516,977 | ||||||
|
|
|
|||||||
| 80,362,576 | ||||||||
| Automobiles — 0.5% | ||||||||
|
Harley-Davidson, Inc. |
282,346 | 9,848,229 | ||||||
|
Lucid Group, Inc.(a)(b) |
68,087 | 951,175 | ||||||
|
Rivian Automotive, Inc., Class A(a)(b) |
1,095,652 | 36,057,907 | ||||||
|
Thor Industries, Inc. |
111,085 | 7,773,728 | ||||||
|
|
|
|||||||
| 54,631,039 | ||||||||
| Banks — 5.1% | ||||||||
|
Bank of Hawaii Corp. |
83,010 | 6,318,721 | ||||||
|
Bank OZK |
236,390 | 9,351,588 | ||||||
|
BOK Financial Corp. |
61,404 | 5,456,360 | ||||||
|
Citizens Financial Group, Inc. |
1,032,254 | 35,468,248 | ||||||
|
Comerica, Inc. |
277,537 | 19,732,881 | ||||||
|
Commerce Bancshares, Inc. |
229,886 | 15,209,258 | ||||||
|
Cullen/Frost Bankers, Inc. |
123,558 | 16,336,839 | ||||||
|
East West Bancorp, Inc. |
300,410 | 20,169,527 | ||||||
|
Fifth Third Bancorp |
1,438,342 | 45,969,410 | ||||||
|
First Citizens BancShares, Inc., Class A(b) |
19,274 | 15,369,666 | ||||||
|
First Hawaiian, Inc. |
274,434 | 6,759,309 | ||||||
|
First Horizon Corp. |
1,121,896 | 25,691,418 | ||||||
|
First Republic Bank |
384,349 | 50,176,762 | ||||||
|
FNB Corp. |
732,639 | 8,498,612 | ||||||
|
Huntington Bancshares, Inc. |
3,033,472 | 39,981,161 | ||||||
|
KeyCorp. |
1,965,307 | 31,484,218 | ||||||
|
M&T Bank Corp. |
369,059 | 65,072,483 | ||||||
|
PacWest Bancorp |
248,916 | 5,625,502 | ||||||
| Security | Shares | Value | ||||||
| Banks (continued) | ||||||||
|
Pinnacle Financial Partners, Inc. |
158,276 | $ | 12,836,184 | |||||
|
Popular, Inc. |
154,001 | 11,097,312 | ||||||
|
Prosperity Bancshares, Inc. |
185,719 | 12,383,743 | ||||||
|
Regions Financial Corp. |
1,974,938 | 39,637,006 | ||||||
|
Signature Bank |
124,925 | 18,863,675 | ||||||
|
SVB Financial Group(a)(b) |
45,283 | 15,205,126 | ||||||
|
Synovus Financial Corp. |
302,179 | 11,334,734 | ||||||
|
Umpqua Holdings Corp. |
450,347 | 7,696,430 | ||||||
|
Webster Financial Corp. |
368,912 | 16,674,822 | ||||||
|
Western Alliance Bancorp |
86,109 | 5,660,806 | ||||||
|
Wintrust Financial Corp. |
128,318 | 10,464,333 | ||||||
|
Zions Bancorp NA |
312,740 | 15,905,956 | ||||||
|
|
|
|||||||
| 600,432,090 | ||||||||
| Beverages — 0.3% | ||||||||
|
Boston Beer Co., Inc., Class A, NVS(a)(b) |
994 | 321,708 | ||||||
|
Brown-Forman Corp., Class A, NVS(b) |
39,338 | 2,657,675 | ||||||
|
Brown-Forman Corp., Class B |
158,719 | 10,565,924 | ||||||
|
Molson Coors Beverage Co., Class B |
367,614 | 17,641,796 | ||||||
|
|
|
|||||||
| 31,187,103 | ||||||||
| Biotechnology — 1.4% | ||||||||
|
Biogen, Inc.(a) |
308,286 | 82,312,362 | ||||||
|
BioMarin Pharmaceutical, Inc.(a) |
390,140 | 33,072,168 | ||||||
|
Exact Sciences Corp.(a)(b) |
306,997 | 9,974,332 | ||||||
|
Exelixis, Inc.(a) |
94,068 | 1,474,986 | ||||||
|
Horizon Therapeutics PLC(a) |
32,976 | 2,040,885 | ||||||
|
Incyte Corp.(a) |
51,716 | 3,446,354 | ||||||
|
Ionis Pharmaceuticals, Inc.(a)(b) |
23,421 | 1,035,911 | ||||||
|
Mirati Therapeutics, Inc.(a)(b) |
90,345 | 6,309,695 | ||||||
|
Natera, Inc.(a) |
11,244 | 492,712 | ||||||
|
Ultragenyx Pharmaceutical, Inc.(a) |
30,680 | 1,270,459 | ||||||
|
United Therapeutics Corp.(a) |
94,784 | 19,845,874 | ||||||
|
|
|
|||||||
| 161,275,738 | ||||||||
| Building Products — 1.7% | ||||||||
|
A O Smith Corp. |
204,298 | 9,924,797 | ||||||
|
Allegion PLC |
38,229 | 3,428,377 | ||||||
|
Armstrong World Industries, Inc. |
41,266 | 3,269,505 | ||||||
|
AZEK Co., Inc.(a)(b) |
237,912 | 3,954,097 | ||||||
|
Builders FirstSource, Inc.(a) |
326,140 | 19,216,169 | ||||||
|
Carlisle Cos., Inc. |
16,962 | 4,756,314 | ||||||
|
Carrier Global Corp. |
1,788,946 | 63,614,920 | ||||||
|
Fortune Brands Home & Security, Inc. |
179,539 | 9,639,449 | ||||||
|
Hayward Holdings, Inc.(a)(b) |
154,495 | 1,370,371 | ||||||
|
Lennox International, Inc. |
67,916 | 15,122,856 | ||||||
|
Masco Corp. |
451,596 | 21,085,017 | ||||||
|
Owens Corning |
203,367 | 15,986,680 | ||||||
|
Trane Technologies PLC |
206,897 | 29,960,754 | ||||||
|
|
|
|||||||
| 201,329,306 | ||||||||
| Capital Markets — 4.6% | ||||||||
|
Affiliated Managers Group, Inc. |
80,569 | 9,011,643 | ||||||
|
Ameriprise Financial, Inc. |
82,490 | 20,783,355 | ||||||
|
Bank of New York Mellon Corp. |
1,550,535 | 59,726,608 | ||||||
|
Carlyle Group, Inc. |
443,186 | 11,451,926 | ||||||
|
Cboe Global Markets, Inc. |
224,332 | 26,329,847 | ||||||
|
Coinbase Global, Inc., Class A(a)(b) |
333,716 | 21,521,345 | ||||||
|
Evercore, Inc., Class A |
75,980 | 6,249,355 | ||||||
|
Franklin Resources, Inc. |
598,973 | 12,889,899 | ||||||
|
Interactive Brokers Group, Inc., Class A |
194,917 | 12,457,145 | ||||||
|
Invesco Ltd. |
783,821 | 10,738,348 | ||||||
|
Janus Henderson Group PLC |
289,142 | 5,872,474 | ||||||
|
Jefferies Financial Group, Inc. |
429,874 | 12,681,283 | ||||||
|
KKR & Co., Inc. |
1,209,053 | 51,989,279 | ||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
33 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Capital Markets (continued) | ||||||||
|
Lazard Ltd., Class A |
188,941 | $ | 6,013,992 | |||||
|
Morningstar, Inc. |
4,687 | 995,144 | ||||||
|
MSCI, Inc., Class A |
41,466 | 17,489,944 | ||||||
|
Nasdaq, Inc. |
726,163 | 41,158,919 | ||||||
|
Northern Trust Corp. |
434,316 | 37,160,077 | ||||||
|
Raymond James Financial, Inc. |
378,485 | 37,401,888 | ||||||
|
Robinhood Markets, Inc., Class A(a)(b) |
1,190,796 | 12,027,039 | ||||||
|
SEI Investments Co. |
218,677 | 10,726,107 | ||||||
|
State Street Corp. |
774,301 | 47,085,244 | ||||||
|
Stifel Financial Corp. |
221,079 | 11,476,211 | ||||||
|
T Rowe Price Group, Inc. |
472,027 | 49,567,555 | ||||||
|
Tradeweb Markets, Inc., Class A |
83,188 | 4,693,467 | ||||||
|
Virtu Financial, Inc., Class A |
209,010 | 4,341,138 | ||||||
|
|
|
|||||||
| 541,839,232 | ||||||||
| Chemicals — 3.9% | ||||||||
|
Albemarle Corp. |
120,080 | 31,753,955 | ||||||
|
Ashland, Inc. |
106,302 | 10,095,501 | ||||||
|
Axalta Coating Systems Ltd.(a)(b) |
350,825 | 7,388,375 | ||||||
|
Celanese Corp. |
229,775 | 20,757,873 | ||||||
|
Chemours Co. |
128,620 | 3,170,483 | ||||||
|
Corteva, Inc. |
1,531,926 | 87,549,571 | ||||||
|
DuPont de Nemours, Inc. |
1,060,170 | 53,432,568 | ||||||
|
Eastman Chemical Co. |
258,792 | 18,387,172 | ||||||
|
Element Solutions, Inc. |
484,432 | 7,881,709 | ||||||
|
FMC Corp. |
174,085 | 18,400,784 | ||||||
|
Ginkgo Bioworks Holdings, Inc.(a)(b) |
1,374,582 | 4,288,696 | ||||||
|
Huntsman Corp. |
404,071 | 9,915,902 | ||||||
|
International Flavors & Fragrances, Inc. |
538,748 | 48,934,481 | ||||||
|
LyondellBasell Industries NV, Class A |
543,221 | 40,893,677 | ||||||
|
Mosaic Co. |
639,700 | 30,916,701 | ||||||
|
NewMarket Corp. |
12,400 | 3,730,292 | ||||||
|
Olin Corp. |
282,691 | 12,121,790 | ||||||
|
PPG Industries, Inc. |
234,089 | 25,911,311 | ||||||
|
RPM International, Inc. |
257,011 | 21,411,586 | ||||||
|
Scotts Miracle-Gro Co., Class A |
55,764 | 2,383,911 | ||||||
|
Westlake Corp. |
69,276 | 6,018,699 | ||||||
|
|
|
|||||||
| 465,345,037 | ||||||||
| Commercial Services & Supplies — 0.8% | ||||||||
|
Cintas Corp. |
12,567 | 4,878,384 | ||||||
|
Clean Harbors, Inc.(a) |
107,729 | 11,848,035 | ||||||
|
Driven Brands Holdings, Inc.(a)(b) |
106,847 | 2,989,579 | ||||||
|
IAA, Inc.(a)(b) |
48,026 | 1,529,628 | ||||||
|
MSA Safety, Inc. |
47,569 | 5,198,340 | ||||||
|
Republic Services, Inc. |
407,551 | 55,443,238 | ||||||
|
Rollins, Inc. |
34,044 | 1,180,646 | ||||||
|
Stericycle, Inc.(a)(b) |
191,680 | 8,071,645 | ||||||
|
Tetra Tech, Inc. |
65,888 | 8,468,585 | ||||||
|
|
|
|||||||
| 99,608,080 | ||||||||
| Communications Equipment — 1.2% | ||||||||
|
Ciena Corp.(a)(b) |
317,341 | 12,830,097 | ||||||
|
F5, Inc.(a)(b) |
125,171 | 18,115,999 | ||||||
|
Juniper Networks, Inc. |
679,907 | 17,759,171 | ||||||
|
Lumentum Holdings, Inc.(a)(b) |
144,733 | 9,924,342 | ||||||
|
Motorola Solutions, Inc.(b) |
348,295 | 78,007,631 | ||||||
|
Ubiquiti, Inc. |
8,942 | 2,625,013 | ||||||
|
Viasat, Inc.(a)(b) |
153,730 | 4,647,258 | ||||||
|
|
|
|||||||
| 143,909,511 | ||||||||
| Construction & Engineering — 0.6% | ||||||||
|
AECOM |
262,684 | 17,959,705 | ||||||
|
MasTec, Inc.(a) |
125,280 | 7,955,280 | ||||||
|
MDU Resources Group, Inc. |
423,691 | 11,587,949 | ||||||
| Security | Shares | Value | ||||||
| Construction & Engineering (continued) | ||||||||
|
Quanta Services, Inc. |
137,507 | $ | 17,517,017 | |||||
|
Valmont Industries, Inc. |
37,965 | 10,198,158 | ||||||
|
WillScot Mobile Mini Holdings Corp.(a)(b) |
205,859 | 8,302,293 | ||||||
|
|
|
|||||||
| 73,520,402 | ||||||||
| Construction Materials — 0.5% | ||||||||
|
Eagle Materials, Inc. |
14,001 | 1,500,627 | ||||||
|
Martin Marietta Materials, Inc. |
119,856 | 38,604,419 | ||||||
|
Vulcan Materials Co. |
143,856 | 22,687,530 | ||||||
|
|
|
|||||||
| 62,792,576 | ||||||||
| Consumer Finance — 1.1% | ||||||||
|
Ally Financial, Inc. |
651,747 | 18,138,119 | ||||||
|
Credit Acceptance Corp.(a)(b) |
12,575 | 5,507,850 | ||||||
|
Discover Financial Services |
576,820 | 52,444,474 | ||||||
|
OneMain Holdings, Inc. |
246,839 | 7,286,687 | ||||||
|
SLM Corp. |
528,749 | 7,397,199 | ||||||
|
SoFi Technologies, Inc.(a)(b) |
1,668,770 | 8,143,598 | ||||||
|
Synchrony Financial(b) |
1,015,186 | 28,618,093 | ||||||
|
Upstart Holdings, Inc.(a)(b) |
124,586 | 2,590,143 | ||||||
|
|
|
|||||||
| 130,126,163 | ||||||||
| Containers & Packaging — 1.4% | ||||||||
|
Amcor PLC |
3,171,448 | 34,029,637 | ||||||
|
AptarGroup, Inc. |
137,464 | 13,063,204 | ||||||
|
Ardagh Group SA(a) |
34,751 | 296,860 | ||||||
|
Ardagh Metal Packaging SA |
222,239 | 1,075,637 | ||||||
|
Avery Dennison Corp. |
65,821 | 10,709,077 | ||||||
|
Ball Corp. |
392,526 | 18,966,856 | ||||||
|
Berry Global Group, Inc.(a) |
136,589 | 6,355,486 | ||||||
|
Crown Holdings, Inc. |
29,475 | 2,388,359 | ||||||
|
Graphic Packaging Holding Co. |
147,025 | 2,902,273 | ||||||
|
International Paper Co. |
764,304 | 24,228,437 | ||||||
|
Packaging Corp. of America |
195,965 | 22,004,910 | ||||||
|
Silgan Holdings, Inc. |
177,743 | 7,472,316 | ||||||
|
Sonoco Products Co. |
204,257 | 11,587,500 | ||||||
|
Westrock Co. |
538,940 | 16,647,857 | ||||||
|
|
|
|||||||
| 171,728,409 | ||||||||
| Distributors — 0.6% | ||||||||
|
Genuine Parts Co. |
269,539 | 40,247,563 | ||||||
|
LKQ Corp. |
542,800 | 25,593,020 | ||||||
|
|
|
|||||||
| 65,840,583 | ||||||||
| Diversified Consumer Services — 0.4% | ||||||||
|
ADT, Inc.(b) |
438,704 | 3,285,893 | ||||||
|
Bright Horizons Family Solutions, Inc.(a) |
88,944 | 5,127,622 | ||||||
|
Grand Canyon Education, Inc.(a) |
66,764 | 5,491,339 | ||||||
|
H&R Block, Inc. |
60,026 | 2,553,506 | ||||||
|
Mister Car Wash, Inc.(a)(b) |
56,347 | 483,457 | ||||||
|
Service Corp. International |
328,165 | 18,948,247 | ||||||
|
Terminix Global Holdings, Inc.(a) |
259,581 | 9,939,356 | ||||||
|
|
|
|||||||
| 45,829,420 | ||||||||
| Diversified Financial Services — 0.4% | ||||||||
|
Apollo Global Management, Inc. |
229,254 | 10,660,311 | ||||||
|
Equitable Holdings, Inc. |
791,157 | 20,846,987 | ||||||
|
Voya Financial, Inc. |
204,377 | 12,364,808 | ||||||
|
|
|
|||||||
| 43,872,106 | ||||||||
| Diversified Telecommunication Services — 0.2% | ||||||||
|
Frontier Communications Parent, Inc.(a)(b) |
523,809 | 12,272,845 | ||||||
|
Lumen Technologies, Inc. |
2,188,464 | 15,932,018 | ||||||
|
|
|
|||||||
| 28,204,863 | ||||||||
| Electric Utilities — 4.5% | ||||||||
|
Alliant Energy Corp. |
530,773 | 28,125,661 | ||||||
| 34 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Electric Utilities (continued) | ||||||||
|
Avangrid, Inc. |
148,753 | $ | 6,203,000 | |||||
|
Constellation Energy Corp. |
689,026 | 57,320,073 | ||||||
|
Edison International |
793,626 | 44,903,359 | ||||||
|
Entergy Corp. |
428,602 | 43,130,219 | ||||||
|
Evergy, Inc. |
470,753 | 27,962,728 | ||||||
|
Eversource Energy |
727,463 | 56,713,016 | ||||||
|
FirstEnergy Corp. |
1,146,869 | 42,434,153 | ||||||
|
Hawaiian Electric Industries, Inc. |
233,408 | 8,089,921 | ||||||
|
IDACORP, Inc. |
105,645 | 10,459,911 | ||||||
|
NRG Energy, Inc. |
501,403 | 19,188,693 | ||||||
|
OGE Energy Corp. |
425,521 | 15,514,496 | ||||||
|
PG&E Corp.(a)(b) |
3,278,998 | 40,987,475 | ||||||
|
Pinnacle West Capital Corp. |
236,976 | 15,287,322 | ||||||
|
PPL Corp. |
1,556,614 | 39,460,165 | ||||||
|
Xcel Energy, Inc. |
1,153,840 | 73,845,760 | ||||||
|
|
|
|||||||
| 529,625,952 | ||||||||
| Electrical Equipment — 1.5% | ||||||||
|
Acuity Brands, Inc.(b) |
68,948 | 10,857,242 | ||||||
|
AMETEK, Inc. |
487,090 | 55,240,877 | ||||||
|
Hubbell, Inc. |
113,590 | 25,330,570 | ||||||
|
nVent Electric PLC |
346,727 | 10,960,041 | ||||||
|
Plug Power, Inc.(a)(b) |
548,401 | 11,521,905 | ||||||
|
Regal Rexnord Corp. |
142,456 | 19,995,124 | ||||||
|
Rockwell Automation, Inc.(b) |
80,403 | 17,295,489 | ||||||
|
Sensata Technologies Holding PLC(b) |
325,603 | 12,138,480 | ||||||
|
Sunrun, Inc.(a)(b) |
434,700 | 11,993,373 | ||||||
|
Vertiv Holdings Co.(b) |
536,488 | 5,214,663 | ||||||
|
|
|
|||||||
| 180,547,764 | ||||||||
| Electronic Equipment, Instruments & Components — 1.8% | ||||||||
|
Amphenol Corp., Class A |
306,057 | 20,493,577 | ||||||
|
Arrow Electronics, Inc.(a) |
128,352 | 11,832,771 | ||||||
|
Avnet, Inc. |
197,184 | 7,122,286 | ||||||
|
Cognex Corp.(b) |
25,149 | 1,042,426 | ||||||
|
Coherent Corp.(a) |
225,638 | 7,863,484 | ||||||
|
Corning, Inc. |
1,499,481 | 43,514,939 | ||||||
|
IPG Photonics Corp.(a) |
71,043 | 5,992,477 | ||||||
|
Jabil, Inc. |
53,267 | 3,074,039 | ||||||
|
Keysight Technologies, Inc.(a) |
28,137 | 4,427,638 | ||||||
|
Littelfuse, Inc.(b) |
50,763 | 10,086,100 | ||||||
|
National Instruments Corp. |
238,813 | 9,012,803 | ||||||
|
TD SYNNEX Corp. |
90,966 | 7,385,529 | ||||||
|
Teledyne Technologies, Inc.(a) |
97,946 | 33,053,837 | ||||||
|
Trimble, Inc.(a) |
528,562 | 28,685,060 | ||||||
|
Vontier Corp. |
127,348 | 2,127,985 | ||||||
|
Zebra Technologies Corp., Class A(a) |
64,789 | 16,975,366 | ||||||
|
|
|
|||||||
| 212,690,317 | ||||||||
| Energy Equipment & Services — 0.7% | ||||||||
|
Baker Hughes Co. |
2,011,615 | 42,163,450 | ||||||
|
Halliburton Co. |
1,041,544 | 25,642,813 | ||||||
|
NOV, Inc. |
821,554 | 13,292,744 | ||||||
|
|
|
|||||||
| 81,099,007 | ||||||||
| Entertainment — 1.2% | ||||||||
|
AMC
Entertainment Holdings, |
1,084,848 | 7,561,390 | ||||||
|
Electronic Arts, Inc. |
548,569 | 63,474,919 | ||||||
|
Liberty Media Corp.-Liberty Formula One, Class A, NVS(a)(b) |
39,184 | 2,057,944 | ||||||
|
Liberty Media Corp.-Liberty Formula One, Class C, NVS(a) |
378,162 | 22,122,477 | ||||||
|
Live Nation Entertainment, Inc.(a)(b) |
161,699 | 12,295,592 | ||||||
|
Madison Square Garden Co(a) |
19,804 | 2,706,415 | ||||||
|
Playtika Holding Corp.(a)(b) |
18,680 | 175,405 | ||||||
| Security | Shares | Value | ||||||
| Entertainment (continued) | ||||||||
|
Roku, Inc.(a)(b) |
180,255 | $ | 10,166,382 | |||||
|
Take-Two Interactive Software, Inc.(a) |
59,380 | 6,472,420 | ||||||
|
Warner Bros Discovery, Inc.(a)(b) |
1,337,960 | 15,386,540 | ||||||
|
|
|
|||||||
| 142,419,484 | ||||||||
| Equity Real Estate Investment Trusts (REITs) — 10.7% | ||||||||
|
Alexandria Real Estate Equities, Inc. |
343,391 | 48,139,984 | ||||||
|
American Homes 4 Rent, Class A |
638,255 | 20,941,147 | ||||||
|
Americold Realty Trust, Inc. |
571,422 | 14,056,981 | ||||||
|
Apartment Income REIT Corp. |
302,535 | 11,683,902 | ||||||
|
AvalonBay Communities, Inc. |
295,258 | 54,383,571 | ||||||
|
Boston Properties, Inc. |
332,128 | 24,899,636 | ||||||
|
Brixmor Property Group, Inc. |
625,827 | 11,559,025 | ||||||
|
Camden Property Trust |
201,365 | 24,053,049 | ||||||
|
Cousins Properties, Inc. |
321,091 | 7,497,475 | ||||||
|
CubeSmart |
472,383 | 18,923,663 | ||||||
|
Douglas Emmett, Inc. |
363,885 | 6,524,458 | ||||||
|
EastGroup Properties, Inc. |
86,340 | 12,462,316 | ||||||
|
EPR Properties |
157,222 | 5,637,981 | ||||||
|
Equity LifeStyle Properties, Inc. |
144,261 | 9,065,361 | ||||||
|
Equity Residential |
782,811 | 52,620,555 | ||||||
|
Essex Property Trust, Inc. |
137,409 | 33,284,582 | ||||||
|
Extra Space Storage, Inc. |
246,401 | 42,555,917 | ||||||
|
Federal Realty Investment Trust |
169,649 | 15,288,768 | ||||||
|
First Industrial Realty Trust, Inc. |
277,804 | 12,448,397 | ||||||
|
Gaming and Leisure Properties, Inc. |
516,051 | 22,830,096 | ||||||
|
Healthcare Realty Trust, Inc. |
806,885 | 16,823,552 | ||||||
|
Healthpeak Properties, Inc. |
1,142,421 | 26,184,289 | ||||||
|
Highwoods Properties, Inc. |
217,644 | 5,867,682 | ||||||
|
Host Hotels & Resorts, Inc. |
1,500,259 | 23,824,113 | ||||||
|
Hudson Pacific Properties, Inc. |
294,786 | 3,227,907 | ||||||
|
Invitation Homes, Inc. |
1,288,023 | 43,496,537 | ||||||
|
Iron Mountain, Inc. |
152,118 | 6,688,628 | ||||||
|
JBG SMITH Properties |
225,896 | 4,197,148 | ||||||
|
Kilroy Realty Corp. |
243,954 | 10,272,903 | ||||||
|
Kimco Realty Corp. |
1,280,839 | 23,580,246 | ||||||
|
Lamar Advertising Co., Class A |
22,946 | 1,892,816 | ||||||
|
Life Storage, Inc. |
176,876 | 19,590,786 | ||||||
|
Medical Properties Trust, Inc. |
1,246,545 | 14,784,024 | ||||||
|
Mid-America Apartment Communities, Inc. |
242,599 | 37,619,827 | ||||||
|
National Retail Properties, Inc. |
368,238 | 14,677,967 | ||||||
|
National Storage Affiliates Trust |
178,182 | 7,408,808 | ||||||
|
Omega Healthcare Investors, Inc. |
493,301 | 14,547,446 | ||||||
|
Park Hotels & Resorts, Inc. |
467,244 | 5,261,167 | ||||||
|
Rayonier, Inc. |
308,345 | 9,241,100 | ||||||
|
Realty Income Corp. |
1,307,511 | 76,097,140 | ||||||
|
Regency Centers Corp. |
364,127 | 19,608,239 | ||||||
|
Rexford Industrial Realty, Inc. |
361,895 | 18,818,540 | ||||||
|
SBA Communications Corp., Class A |
174,039 | 49,540,201 | ||||||
|
Simon Property Group, Inc. |
355,342 | 31,891,944 | ||||||
|
SL Green Realty Corp. |
138,030 | 5,543,285 | ||||||
|
Spirit Realty Capital, Inc. |
288,988 | 10,449,806 | ||||||
|
STORE Capital Corp. |
536,175 | 16,798,363 | ||||||
|
Sun Communities, Inc. |
257,264 | 34,815,537 | ||||||
|
UDR, Inc. |
684,334 | 28,543,571 | ||||||
|
Ventas, Inc. |
843,990 | 33,903,078 | ||||||
|
VICI Properties, Inc. |
2,030,207 | 60,601,679 | ||||||
|
Vornado Realty Trust |
368,536 | 8,535,294 | ||||||
|
Welltower, Inc. |
979,041 | 62,971,917 | ||||||
|
Weyerhaeuser Co. |
1,570,709 | 44,859,449 | ||||||
|
WP Carey, Inc. |
404,452 | 28,230,750 | ||||||
|
|
|
|||||||
| 1,269,252,603 | ||||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
35 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Food & Staples Retailing — 1.0% | ||||||||
|
Albertsons Cos., Inc., Class A |
355,671 | $ | 8,841,981 | |||||
|
BJ’s Wholesale Club Holdings, Inc.(a)(b) |
103,773 | 7,555,712 | ||||||
|
Casey’s General Stores, Inc. |
77,815 | 15,759,094 | ||||||
|
Grocery Outlet Holding Corp.(a)(b) |
171,445 | 5,707,404 | ||||||
|
Kroger Co. |
1,389,306 | 60,782,137 | ||||||
|
Performance Food Group Co.(a)(b) |
220,565 | 9,473,267 | ||||||
|
US Foods Holding Corp.(a)(b) |
426,743 | 11,283,085 | ||||||
|
|
|
|||||||
| 119,402,680 | ||||||||
| Food Products — 2.5% | ||||||||
|
Bunge Ltd. |
295,272 | 24,380,609 | ||||||
|
Campbell Soup Co. |
407,461 | 19,199,562 | ||||||
|
Conagra Brands, Inc. |
995,840 | 32,494,259 | ||||||
|
Darling Ingredients, Inc.(a) |
316,347 | 20,926,354 | ||||||
|
Flowers Foods, Inc. |
393,391 | 9,712,824 | ||||||
|
Freshpet, Inc.(a)(b) |
42,074 | 2,107,487 | ||||||
|
Hershey Co. |
40,770 | 8,988,562 | ||||||
|
Hormel Foods Corp. |
607,360 | 27,598,438 | ||||||
|
Ingredion, Inc. |
139,028 | 11,194,535 | ||||||
|
J M Smucker Co. |
217,949 | 29,948,372 | ||||||
|
Kellogg Co. |
242,859 | 16,917,558 | ||||||
|
McCormick & Co., Inc., NVS |
529,348 | 37,726,632 | ||||||
|
Pilgrim’s Pride Corp.(a) |
47,553 | 1,094,670 | ||||||
|
Post Holdings, Inc.(a)(b) |
116,683 | 9,557,504 | ||||||
|
Seaboard Corp. |
507 | 1,725,149 | ||||||
|
Tyson Foods, Inc., Class A |
601,818 | 39,677,861 | ||||||
|
|
|
|||||||
| 293,250,376 | ||||||||
| Gas Utilities — 0.5% | ||||||||
|
Atmos Energy Corp. |
292,362 | 29,777,070 | ||||||
|
National Fuel Gas Co. |
169,084 | 10,407,120 | ||||||
|
UGI Corp. |
445,848 | 14,414,266 | ||||||
|
|
|
|||||||
| 54,598,456 | ||||||||
| Health Care Equipment & Supplies — 2.0% | ||||||||
|
Align Technology, Inc.(a)(b) |
41,187 | 8,530,240 | ||||||
|
Cooper Cos., Inc. |
102,851 | 27,142,379 | ||||||
|
DENTSPLY SIRONA, Inc. |
449,760 | 12,750,696 | ||||||
|
Enovis Corp.(a) |
106,252 | 4,895,030 | ||||||
|
Envista Holdings Corp.(a) |
348,441 | 11,432,349 | ||||||
|
Globus Medical, Inc., Class A(a)(b) |
149,737 | 8,919,833 | ||||||
|
Hologic, Inc.(a) |
519,951 | 33,547,239 | ||||||
|
ICU Medical, Inc.(a) |
34,464 | 5,190,278 | ||||||
|
Integra LifeSciences Holdings Corp.(a)(b) |
156,043 | 6,609,981 | ||||||
|
Masimo Corp.(a) |
22,979 | 3,243,716 | ||||||
|
QuidelOrtho Corp.(a) |
103,686 | 7,411,475 | ||||||
|
STERIS PLC |
210,951 | 35,076,932 | ||||||
|
Tandem Diabetes Care, Inc.(a) |
7,744 | 370,550 | ||||||
|
Teleflex, Inc. |
99,664 | 20,078,309 | ||||||
|
Zimmer Biomet Holdings, Inc. |
442,912 | 46,306,450 | ||||||
|
|
|
|||||||
| 231,505,457 | ||||||||
| Health Care Providers & Services — 1.8% | ||||||||
|
Acadia Healthcare Co., Inc.(a)(b) |
186,941 | 14,615,047 | ||||||
|
agilon health, Inc.(a) |
21,608 | 506,059 | ||||||
|
Amedisys, Inc.(a)(b) |
67,098 | 6,494,415 | ||||||
|
Cardinal Health, Inc. |
575,901 | 38,401,079 | ||||||
|
Chemed Corp. |
19,737 | 8,616,385 | ||||||
|
Encompass Health Corp. |
205,799 | 9,308,289 | ||||||
|
Enhabit, Inc.(a) |
102,917 | 1,444,955 | ||||||
|
Henry Schein, Inc.(a) |
284,184 | 18,690,782 | ||||||
|
Laboratory Corp. of America Holdings |
191,028 | 39,124,445 | ||||||
|
Molina Healthcare, Inc.(a) |
27,219 | 8,977,915 | ||||||
|
Oak Street Health, Inc.(a)(b) |
244,515 | 5,995,508 | ||||||
|
Premier, Inc., Class A |
247,104 | 8,386,710 | ||||||
| Security | Shares | Value | ||||||
| Health Care Providers & Services (continued) | ||||||||
|
Quest Diagnostics, Inc. |
247,639 | $ | 30,382,829 | |||||
|
Signify Health, Inc., Class A(a) |
146,560 | 4,272,224 | ||||||
|
Tenet Healthcare Corp.(a)(b) |
227,413 | 11,729,962 | ||||||
|
Universal Health Services, Inc., Class B(b) |
133,553 | 11,776,703 | ||||||
|
|
|
|||||||
| 218,723,307 | ||||||||
| Health Care Technology — 0.2% | ||||||||
|
Certara, Inc.(a)(b) |
86,357 | 1,146,821 | ||||||
|
Change Healthcare, Inc.(a)(b) |
514,822 | 14,152,457 | ||||||
|
Definitive Healthcare Corp.(a)(b) |
38,870 | 604,040 | ||||||
|
Doximity, Inc., Class A(a)(b) |
122,716 | 3,708,477 | ||||||
|
Teladoc Health, Inc.(a)(b) |
304,701 | 7,724,170 | ||||||
|
|
|
|||||||
| 27,335,965 | ||||||||
| Hotels, Restaurants & Leisure — 2.1% | ||||||||
|
Aramark |
486,594 | 15,181,733 | ||||||
|
Boyd Gaming Corp. |
163,423 | 7,787,106 | ||||||
|
Caesars Entertainment, Inc.(a)(b) |
135,227 | 4,362,423 | ||||||
|
Carnival Corp.(a) |
2,034,496 | 14,302,507 | ||||||
|
Darden Restaurants, Inc. |
70,549 | 8,911,750 | ||||||
|
Domino’s Pizza, Inc. |
20,269 | 6,287,444 | ||||||
|
Hilton Worldwide Holdings, Inc. |
157,510 | 18,998,856 | ||||||
|
Hyatt Hotels Corp., Class A(a)(b) |
102,996 | 8,338,556 | ||||||
|
Las Vegas Sands Corp.(a) |
435,387 | 16,335,720 | ||||||
|
Marriott Vacations Worldwide Corp. |
81,053 | 9,877,119 | ||||||
|
MGM Resorts International(b) |
694,188 | 20,631,267 | ||||||
|
Norwegian Cruise Line Holdings Ltd.(a)(b) |
821,297 | 9,329,934 | ||||||
|
Penn Entertainment, Inc.(a)(b) |
333,831 | 9,183,691 | ||||||
|
Planet Fitness, Inc., Class A(a)(b) |
46,591 | 2,686,437 | ||||||
|
Royal Caribbean Cruises Ltd.(a)(b) |
467,978 | 17,736,366 | ||||||
|
Six Flags Entertainment Corp.(a) |
80,959 | 1,432,974 | ||||||
|
Travel + Leisure Co. |
49,427 | 1,686,449 | ||||||
|
Vail Resorts, Inc. |
4,559 | 983,103 | ||||||
|
Wyndham Hotels & Resorts, Inc. |
58,158 | 3,567,993 | ||||||
|
Wynn Resorts Ltd.(a)(b) |
194,195 | 12,240,111 | ||||||
|
Yum! Brands, Inc. |
535,658 | 56,961,872 | ||||||
|
|
|
|||||||
| 246,823,411 | ||||||||
| Household Durables — 1.4% | ||||||||
|
DR Horton, Inc.(b) |
320,826 | 21,607,631 | ||||||
|
Garmin Ltd. |
326,428 | 26,215,433 | ||||||
|
Leggett & Platt, Inc. |
283,384 | 9,414,017 | ||||||
|
Lennar Corp., Class A |
530,224 | 39,528,199 | ||||||
|
Lennar Corp., Class B |
33,244 | 1,978,350 | ||||||
|
Mohawk Industries, Inc.(a)(b) |
110,411 | 10,068,379 | ||||||
|
Newell Brands, Inc. |
792,417 | 11,006,672 | ||||||
|
NVR, Inc.(a) |
1,766 | 7,041,183 | ||||||
|
PulteGroup, Inc. |
295,475 | 11,080,313 | ||||||
|
Tempur Sealy International, Inc. |
359,542 | 8,679,344 | ||||||
|
Toll Brothers, Inc. |
111,187 | 4,669,854 | ||||||
|
TopBuild Corp.(a) |
10,507 | 1,731,343 | ||||||
|
Whirlpool Corp. |
112,750 | 15,199,828 | ||||||
|
|
|
|||||||
| 168,220,546 | ||||||||
| Household Products — 0.3% | ||||||||
|
Church & Dwight Co., Inc.(b) |
282,243 | 20,163,440 | ||||||
|
Clorox Co. |
44,240 | 5,679,974 | ||||||
|
Reynolds Consumer Products, Inc. |
114,969 | 2,990,344 | ||||||
|
Spectrum Brands Holdings, Inc. |
83,283 | 3,250,535 | ||||||
|
|
|
|||||||
| 32,084,293 | ||||||||
| Independent Power and Renewable Electricity Producers — 0.4% | ||||||||
|
AES Corp. |
1,158,850 | 26,190,010 | ||||||
| 36 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Independent Power and Renewable Electricity Producers (continued) | ||||||||
|
Brookfield Renewable Corp., Class A(b) |
268,050 | $ | 8,759,874 | |||||
|
Vistra Corp. |
367,575 | 7,719,075 | ||||||
|
|
|
|||||||
| 42,668,959 | ||||||||
| Insurance — 6.7% | ||||||||
|
Aflac, Inc. |
1,325,988 | 74,520,525 | ||||||
|
Alleghany Corp.(a) |
23,397 | 19,638,740 | ||||||
|
Allstate Corp. |
570,202 | 71,007,255 | ||||||
|
American Financial Group, Inc. |
143,187 | 17,601,978 | ||||||
|
Arch Capital Group Ltd.(a) |
505,176 | 23,005,715 | ||||||
|
Arthur J. Gallagher & Co. |
390,378 | 66,840,521 | ||||||
|
Assurant, Inc. |
105,042 | 15,259,451 | ||||||
|
Assured Guaranty Ltd. |
124,255 | 6,020,155 | ||||||
|
Axis Capital Holdings Ltd. |
166,871 | 8,201,710 | ||||||
|
Brighthouse Financial, Inc.(a) |
150,709 | 6,543,785 | ||||||
|
Brown & Brown, Inc. |
462,545 | 27,974,722 | ||||||
|
Cincinnati Financial Corp. |
330,959 | 29,643,998 | ||||||
|
CNA Financial Corp. |
59,435 | 2,193,151 | ||||||
|
Erie Indemnity Co., Class A, NVS |
13,705 | 3,046,758 | ||||||
|
Everest Re Group Ltd. |
56,444 | 14,813,163 | ||||||
|
Fidelity National Financial, Inc. |
555,685 | 20,115,797 | ||||||
|
First American Financial Corp. |
213,063 | 9,822,204 | ||||||
|
Globe Life, Inc. |
189,961 | 18,939,112 | ||||||
|
Hanover Insurance Group, Inc. |
74,296 | 9,520,289 | ||||||
|
Hartford Financial Services Group, Inc. |
681,817 | 42,231,745 | ||||||
|
Kemper Corp. |
135,687 | 5,598,446 | ||||||
|
Lincoln National Corp. |
285,297 | 12,527,391 | ||||||
|
Loews Corp. |
421,501 | 21,007,610 | ||||||
|
Markel Corp.(a) |
21,855 | 23,695,628 | ||||||
|
Old Republic International Corp. |
592,529 | 12,401,632 | ||||||
|
Primerica, Inc. |
78,188 | 9,652,309 | ||||||
|
Principal Financial Group, Inc. |
521,555 | 37,630,193 | ||||||
|
Prudential Financial, Inc. |
793,318 | 68,050,818 | ||||||
|
Reinsurance Group of America, Inc. |
140,313 | 17,652,778 | ||||||
|
RenaissanceRe Holdings Ltd.(b) |
41,394 | 5,811,304 | ||||||
|
Unum Group |
420,807 | 16,327,312 | ||||||
|
W R Berkley Corp. |
435,991 | 28,156,299 | ||||||
|
White Mountains Insurance Group Ltd. |
6,051 | 7,884,574 | ||||||
|
Willis Towers Watson PLC |
231,187 | 46,454,716 | ||||||
|
|
|
|||||||
| 799,791,784 | ||||||||
| Interactive Media & Services — 0.4% | ||||||||
|
IAC, Inc.(a)(b) |
164,027 | 9,083,815 | ||||||
|
Match Group, Inc.(a) |
37,677 | 1,799,077 | ||||||
|
Pinterest, Inc., Class A(a) |
974,574 | 22,707,574 | ||||||
|
TripAdvisor, Inc.(a) |
197,010 | 4,349,981 | ||||||
|
Twitter, Inc.(a) |
115,913 | 5,081,626 | ||||||
|
|
|
|||||||
| 43,022,073 | ||||||||
| Internet & Direct Marketing Retail — 0.4% | ||||||||
|
DoorDash, Inc., Class A(a)(b) |
60,316 | 2,982,626 | ||||||
|
eBay, Inc. |
1,011,096 | 37,218,444 | ||||||
|
Wayfair, Inc., Class A(a)(b) |
59,021 | 1,921,134 | ||||||
|
|
|
|||||||
| 42,122,204 | ||||||||
| IT Services — 2.3% | ||||||||
|
Affirm Holdings, Inc.(a)(b) |
379,328 | 7,116,193 | ||||||
|
Akamai Technologies, Inc.(a)(b) |
331,061 | 26,590,820 | ||||||
|
Amdocs Ltd. |
254,024 | 20,182,207 | ||||||
|
Broadridge Financial Solutions, Inc. |
22,549 | 3,254,272 | ||||||
|
Concentrix Corp. |
91,617 | 10,227,206 | ||||||
|
DXC Technology Co.(a) |
486,355 | 11,905,970 | ||||||
|
Euronet Worldwide, Inc.(a) |
25,045 | 1,897,409 | ||||||
|
Genpact Ltd.(b) |
178,846 | 7,828,089 | ||||||
|
Global Payments, Inc.(b) |
580,494 | 62,722,377 | ||||||
| Security | Shares | Value | ||||||
| IT Services (continued) | ||||||||
|
GoDaddy, Inc., Class A(a)(b) |
285,185 | $ | 20,213,913 | |||||
|
Kyndryl Holdings, Inc.(a)(b) |
427,507 | 3,535,483 | ||||||
|
Okta, Inc.(a) |
272,223 | 15,481,322 | ||||||
|
SS&C Technologies Holdings, Inc. |
473,401 | 22,604,898 | ||||||
|
Switch, Inc., Class A |
122,758 | 4,135,717 | ||||||
|
Twilio, Inc., Class A(a) |
223,996 | 15,487,083 | ||||||
|
VeriSign, Inc.(a)(b) |
177,228 | 30,784,504 | ||||||
|
Western Union Co. |
536,271 | 7,239,658 | ||||||
|
WEX, Inc.(a)(b) |
26,037 | 3,305,137 | ||||||
|
Wix.com Ltd.(a) |
25,001 | 1,955,828 | ||||||
|
|
|
|||||||
| 276,468,086 | ||||||||
| Leisure Products — 0.3% | ||||||||
|
Brunswick Corp. |
128,701 | 8,423,481 | ||||||
|
Hasbro, Inc. |
279,149 | 18,820,226 | ||||||
|
Mattel, Inc.(a)(b) |
382,214 | 7,239,133 | ||||||
|
Peloton Interactive, Inc., Class A(a)(b) |
651,568 | 4,515,366 | ||||||
|
Polaris, Inc. |
30,691 | 2,935,594 | ||||||
|
|
|
|||||||
| 41,933,800 | ||||||||
| Life Sciences Tools & Services — 0.9% | ||||||||
|
10X Genomics, Inc., Class A(a)(b) |
19,841 | 565,072 | ||||||
|
Agilent Technologies, Inc. |
64,216 | 7,805,455 | ||||||
|
Avantor, Inc.(a) |
90,895 | 1,781,542 | ||||||
|
Azenta, Inc. |
155,456 | 6,662,844 | ||||||
|
Bio-Rad Laboratories, Inc., Class A(a) |
45,406 | 18,940,659 | ||||||
|
Charles
River Laboratories International, |
6,707 | 1,319,937 | ||||||
|
PerkinElmer, Inc.(b) |
266,725 | 32,095,019 | ||||||
|
QIAGEN NV(a) |
482,003 | 19,897,084 | ||||||
|
Repligen Corp.(a)(b) |
33,444 | 6,257,707 | ||||||
|
Syneos Health, Inc.(a) |
177,440 | 8,366,296 | ||||||
|
|
|
|||||||
| 103,691,615 | ||||||||
| Machinery — 5.0% | ||||||||
|
AGCO Corp.(b) |
113,099 | 10,876,731 | ||||||
|
Allison Transmission Holdings, Inc. |
42,401 | 1,431,458 | ||||||
|
Crane Holdings Co. |
98,726 | 8,642,474 | ||||||
|
Cummins, Inc. |
297,485 | 60,541,172 | ||||||
|
Donaldson Co., Inc. |
215,398 | 10,556,656 | ||||||
|
Dover Corp. |
304,117 | 35,453,960 | ||||||
|
Esab Corp. |
106,379 | 3,548,803 | ||||||
|
Flowserve Corp. |
276,946 | 6,729,788 | ||||||
|
Fortive Corp. |
757,292 | 44,150,124 | ||||||
|
Gates Industrial Corp. PLC(a)(b) |
232,348 | 2,267,717 | ||||||
|
Graco, Inc. |
110,636 | 6,632,628 | ||||||
|
IDEX Corp. |
132,327 | 26,445,551 | ||||||
|
Ingersoll Rand, Inc.(b) |
858,252 | 37,127,982 | ||||||
|
ITT, Inc. |
175,224 | 11,449,136 | ||||||
|
Middleby Corp.(a)(b) |
106,255 | 13,618,703 | ||||||
|
Nordson Corp.(b) |
94,272 | 20,011,117 | ||||||
|
Oshkosh Corp. |
137,824 | 9,687,649 | ||||||
|
Otis Worldwide Corp. |
785,382 | 50,107,372 | ||||||
|
PACCAR, Inc. |
720,161 | 60,270,274 | ||||||
|
Parker-Hannifin Corp. |
209,146 | 50,678,167 | ||||||
|
Pentair PLC |
345,373 | 14,032,505 | ||||||
|
Snap-on, Inc. |
111,610 | 22,472,674 | ||||||
|
Stanley Black & Decker, Inc. |
312,192 | 23,479,960 | ||||||
|
Timken Co. |
130,811 | 7,723,081 | ||||||
|
Westinghouse Air Brake Technologies Corp. |
382,986 | 31,155,911 | ||||||
|
Xylem, Inc. |
326,187 | 28,495,696 | ||||||
|
|
|
|||||||
| 597,587,289 | ||||||||
| Marine — 0.1% | ||||||||
|
Kirby Corp.(a) |
125,299 | 7,614,420 | ||||||
|
|
|
|||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
37 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Media — 1.6% | ||||||||
|
Altice U.S.A., Inc., Class A(a)(b) |
439,127 | $ | 2,560,110 | |||||
|
Cable One, Inc.(b) |
4,818 | 4,109,995 | ||||||
|
DISH Network Corp., Class A(a)(b) |
538,170 | 7,442,891 | ||||||
|
Fox Corp., Class A, NVS |
636,570 | 19,529,968 | ||||||
|
Fox Corp., Class B |
304,445 | 8,676,683 | ||||||
|
Interpublic Group of Cos., Inc. |
834,699 | 21,368,294 | ||||||
|
Liberty Broadband Corp., Class A(a) |
20,558 | 1,533,627 | ||||||
|
Liberty Broadband Corp., Class C(a) |
139,673 | 10,307,867 | ||||||
|
Liberty
Media Corp.-Liberty SiriusXM, |
113,743 | 4,330,196 | ||||||
|
Liberty
Media Corp.-Liberty SiriusXM, |
234,530 | 8,844,126 | ||||||
|
New York Times Co., Class A |
345,150 | 9,923,063 | ||||||
|
News Corp., Class A, NVS |
810,111 | 12,240,777 | ||||||
|
News Corp., Class B |
256,766 | 3,959,332 | ||||||
|
Nexstar Media Group, Inc.(b) |
71,656 | 11,955,804 | ||||||
|
Omnicom Group, Inc. |
430,965 | 27,189,582 | ||||||
|
Paramount Global, Class A |
17,349 | 373,697 | ||||||
|
Paramount Global, Class B, NVS |
1,222,857 | 23,283,197 | ||||||
|
Sirius XM Holdings, Inc.(b) |
1,488,903 | 8,501,636 | ||||||
|
|
|
|||||||
| 186,130,845 | ||||||||
| Metals & Mining — 1.4% | ||||||||
|
Alcoa Corp. |
380,037 | 12,792,045 | ||||||
|
Cleveland-Cliffs, Inc.(a)(b) |
1,087,846 | 14,653,286 | ||||||
|
Nucor Corp. |
552,383 | 59,099,457 | ||||||
|
Reliance Steel & Aluminum Co. |
126,785 | 22,112,572 | ||||||
|
Royal Gold, Inc. |
128,612 | 12,066,378 | ||||||
|
SSR Mining, Inc.(b) |
444,977 | 6,545,612 | ||||||
|
Steel Dynamics, Inc. |
366,059 | 25,971,886 | ||||||
|
United States Steel Corp.(b) |
497,037 | 9,006,310 | ||||||
|
|
|
|||||||
| 162,247,546 | ||||||||
| Mortgage Real Estate Investment Trusts (REITs) — 0.4% | ||||||||
|
AGNC Investment Corp. |
1,096,296 | 9,230,812 | ||||||
|
Annaly Capital Management, Inc. |
907,217 | 15,567,844 | ||||||
|
Rithm Capital Corp. |
895,404 | 6,554,357 | ||||||
|
Starwood Property Trust, Inc. |
618,332 | 11,266,009 | ||||||
|
|
|
|||||||
| 42,619,022 | ||||||||
| Multiline Retail — 0.5% | ||||||||
|
Dollar Tree, Inc.(a)(b) |
309,365 | 42,104,576 | ||||||
|
Kohl’s Corp. |
268,613 | 6,755,617 | ||||||
|
Macy’s, Inc. |
569,753 | 8,928,030 | ||||||
|
Nordstrom, Inc.(b) |
36,705 | 614,075 | ||||||
|
Ollie’s Bargain Outlet Holdings, Inc.(a)(b) |
124,299 | 6,413,828 | ||||||
|
|
|
|||||||
| 64,816,126 | ||||||||
| Multi-Utilities — 3.1% | ||||||||
|
Ameren Corp. |
543,342 | 43,766,198 | ||||||
|
CenterPoint Energy, Inc. |
1,331,394 | 37,518,683 | ||||||
|
CMS Energy Corp. |
612,002 | 35,642,997 | ||||||
|
Consolidated Edison, Inc. |
751,549 | 64,452,842 | ||||||
|
DTE Energy Co. |
407,106 | 46,837,545 | ||||||
|
NiSource, Inc. |
861,754 | 21,707,583 | ||||||
|
Public Service Enterprise Group, Inc. |
1,050,958 | 59,095,369 | ||||||
|
WEC Energy Group, Inc. |
666,049 | 59,564,762 | ||||||
|
|
|
|||||||
| 368,585,979 | ||||||||
| Oil, Gas & Consumable Fuels — 4.5% | ||||||||
|
Antero Midstream Corp. |
705,755 | 6,478,831 | ||||||
|
Antero Resources Corp.(a)(b) |
215,323 | 6,573,811 | ||||||
|
APA Corp. |
687,922 | 23,520,053 | ||||||
|
Cheniere Energy, Inc. |
223,656 | 37,106,767 | ||||||
|
Chesapeake Energy Corp. |
256,049 | 24,122,376 | ||||||
| Security | Shares | Value | ||||||
| Oil, Gas & Consumable Fuels (continued) | ||||||||
|
Continental Resources, Inc. |
18,709 | $ | 1,249,948 | |||||
|
Coterra Energy, Inc. |
1,389,206 | 36,286,061 | ||||||
|
Devon Energy Corp. |
709,878 | 42,684,964 | ||||||
|
Diamondback Energy, Inc. |
157,050 | 18,918,243 | ||||||
|
DT Midstream, Inc. |
203,390 | 10,553,907 | ||||||
|
EQT Corp. |
779,716 | 31,773,427 | ||||||
|
Hess Corp. |
128,301 | 13,983,526 | ||||||
|
HF Sinclair Corp. |
308,072 | 16,586,597 | ||||||
|
Marathon Oil Corp. |
1,428,657 | 32,259,075 | ||||||
|
ONEOK, Inc. |
831,953 | 42,629,272 | ||||||
|
Ovintiv, Inc. |
156,179 | 7,184,234 | ||||||
|
PDC Energy, Inc. |
92,134 | 5,324,424 | ||||||
|
Phillips 66 |
1,017,714 | 82,149,874 | ||||||
|
Range Resources Corp. |
187,641 | 4,739,812 | ||||||
|
Southwestern Energy Co.(a)(b) |
2,205,354 | 13,496,767 | ||||||
|
Williams Cos., Inc. |
2,577,469 | 73,792,937 | ||||||
|
|
|
|||||||
| 531,414,906 | ||||||||
| Paper & Forest Products — 0.1% | ||||||||
|
Louisiana-Pacific Corp. |
139,845 | 7,158,666 | ||||||
|
|
|
|||||||
| Personal Products — 0.0% | ||||||||
|
Coty, Inc., Class A(a) |
727,744 | 4,599,342 | ||||||
|
|
|
|||||||
| Pharmaceuticals — 1.0% | ||||||||
|
Catalent, Inc.(a) |
246,949 | 17,869,230 | ||||||
|
Elanco Animal Health, Inc.(a) |
934,677 | 11,599,342 | ||||||
|
Jazz Pharmaceuticals PLC(a) |
127,945 | 17,053,789 | ||||||
|
Organon & Co. |
533,178 | 12,476,365 | ||||||
|
Perrigo Co. PLC |
282,032 | 10,057,261 | ||||||
|
Royalty Pharma PLC, Class A |
776,651 | 31,205,837 | ||||||
|
Viatris, Inc. |
2,571,803 | 21,911,761 | ||||||
|
|
|
|||||||
| 122,173,585 | ||||||||
| Professional Services — 1.8% | ||||||||
|
CACI International, Inc., Class A(a) |
48,686 | 12,709,967 | ||||||
|
Clarivate PLC(a)(b) |
1,012,860 | 9,510,755 | ||||||
|
CoStar Group, Inc.(a)(b) |
710,721 | 49,501,718 | ||||||
|
Dun & Bradstreet Holdings, Inc. |
527,738 | 6,538,674 | ||||||
|
Equifax, Inc. |
128,994 | 22,113,441 | ||||||
|
FTI Consulting, Inc.(a)(b) |
41,037 | 6,800,241 | ||||||
|
Jacobs Solutions, Inc. |
270,571 | 29,354,248 | ||||||
|
KBR, Inc. |
102,447 | 4,427,759 | ||||||
|
Leidos Holdings, Inc. |
288,769 | 25,258,625 | ||||||
|
ManpowerGroup, Inc. |
110,040 | 7,118,488 | ||||||
|
Nielsen Holdings PLC(a) |
761,056 | 21,096,472 | ||||||
|
Robert Half International, Inc. |
25,432 | 1,945,548 | ||||||
|
Science Applications International Corp. |
116,806 | 10,329,155 | ||||||
|
TransUnion |
107,882 | 6,417,900 | ||||||
|
|
|
|||||||
| 213,122,991 | ||||||||
| Real Estate Management & Development — 0.5% | ||||||||
|
CBRE Group, Inc., Class A(a)(b) |
346,906 | 23,419,624 | ||||||
|
Howard Hughes Corp.(a)(b) |
76,859 | 4,257,220 | ||||||
|
Jones Lang LaSalle, Inc.(a) |
100,915 | 15,245,229 | ||||||
|
Opendoor Technologies, Inc.(a)(b) |
700,652 | 2,179,028 | ||||||
|
WeWork, Inc., Class A(a)(b) |
272,820 | 722,973 | ||||||
|
Zillow Group, Inc., Class A(a)(b) |
114,702 | 3,283,918 | ||||||
|
Zillow Group, Inc., Class C(a)(b) |
315,701 | 9,032,206 | ||||||
|
|
|
|||||||
| 58,140,198 | ||||||||
| Road & Rail — 0.6% | ||||||||
|
AMERCO |
19,296 | 9,825,909 | ||||||
|
Avis Budget Group, Inc.(a)(b) |
62,403 | 9,264,349 | ||||||
|
Hertz Global Holdings, Inc.(a)(b) |
430,823 | 7,013,798 | ||||||
|
JB Hunt Transport Services, Inc.(b) |
19,898 | 3,112,445 | ||||||
| 38 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Road & Rail (continued) | ||||||||
|
Knight-Swift Transportation Holdings, Inc. |
328,106 | $ | 16,054,227 | |||||
|
Landstar System, Inc. |
7,511 | 1,084,363 | ||||||
|
Lyft, Inc., Class A(a)(b) |
128,674 | 1,694,637 | ||||||
|
Ryder System, Inc. |
103,753 | 7,832,314 | ||||||
|
Schneider National, Inc., Class B(b) |
120,054 | 2,437,096 | ||||||
|
XPO Logistics, Inc.(a)(b) |
198,503 | 8,837,354 | ||||||
|
|
|
|||||||
| 67,156,492 | ||||||||
| Semiconductors & Semiconductor Equipment — 1.3% | ||||||||
|
Cirrus Logic, Inc.(a) |
119,487 | 8,220,706 | ||||||
|
First Solar, Inc.(a) |
224,931 | 29,751,623 | ||||||
|
GLOBALFOUNDRIES, Inc.(a)(b) |
99,400 | 4,805,990 | ||||||
|
Microchip Technology, Inc. |
164,960 | 10,067,509 | ||||||
|
MKS Instruments, Inc. |
120,419 | 9,951,426 | ||||||
|
ON Semiconductor Corp.(a)(b) |
346,304 | 21,585,128 | ||||||
|
Qorvo, Inc.(a) |
217,618 | 17,281,045 | ||||||
|
Skyworks Solutions, Inc. |
340,084 | 28,998,963 | ||||||
|
Teradyne, Inc.(b) |
31,255 | 2,348,813 | ||||||
|
Wolfspeed, Inc.(a)(b) |
244,680 | 25,290,125 | ||||||
|
|
|
|||||||
| 158,301,328 | ||||||||
| Software — 1.7% | ||||||||
|
ANSYS, Inc.(a) |
87,426 | 19,382,344 | ||||||
|
Bill.com Holdings, Inc.(a)(b) |
206,372 | 27,317,462 | ||||||
|
Black Knight, Inc.(a) |
298,021 | 19,290,899 | ||||||
|
CCC Intelligent Solutions Holdings, Inc.(a)(b) |
217,218 | 1,976,684 | ||||||
|
Ceridian HCM Holding, Inc.(a) |
232,663 | 13,001,208 | ||||||
|
Citrix Systems, Inc.(a) |
139,861 | 14,531,558 | ||||||
|
Coupa Software, Inc.(a) |
70,098 | 4,121,762 | ||||||
|
Dolby Laboratories, Inc., Class A |
129,008 | 8,404,871 | ||||||
|
DoubleVerify Holdings, Inc.(a)(b) |
17,264 | 472,170 | ||||||
|
Dropbox, Inc., Class A(a) |
40,003 | 828,862 | ||||||
|
Guidewire Software, Inc.(a)(b) |
175,537 | 10,809,569 | ||||||
|
Informatica, Inc., Class A(a)(b) |
63,155 | 1,267,521 | ||||||
|
Jamf Holding Corp.(a)(b) |
17,172 | 380,532 | ||||||
|
Manhattan Associates, Inc.(a)(b) |
50,440 | 6,710,033 | ||||||
|
nCino, Inc.(a)(b) |
117,950 | 4,023,275 | ||||||
|
NCR Corp.(a)(b) |
252,908 | 4,807,781 | ||||||
|
NortonLifeLock, Inc. |
773,193 | 15,572,107 | ||||||
|
Nutanix, Inc., Class A(a) |
222,913 | 4,643,278 | ||||||
|
Paycor HCM, Inc.(a)(b) |
99,089 | 2,929,071 | ||||||
|
Procore Technologies, Inc.(a)(b) |
41,058 | 2,031,550 | ||||||
|
SentinelOne, Inc., Class A(a)(b) |
116,267 | 2,971,785 | ||||||
|
Teradata Corp.(a)(b) |
100,214 | 3,112,647 | ||||||
|
Tyler Technologies, Inc.(a)(b) |
11,340 | 3,940,650 | ||||||
|
UiPath, Inc., Class A(a)(b) |
711,164 | 8,967,778 | ||||||
|
Unity Software, Inc.(a)(b) |
142,970 | 4,555,024 | ||||||
|
Zoom Video Communications, Inc., Class A(a) |
266,204 | 19,589,952 | ||||||
|
|
|
|||||||
| 205,640,373 | ||||||||
| Specialty Retail — 2.0% | ||||||||
|
Advance Auto Parts, Inc. |
118,125 | 18,467,662 | ||||||
|
AutoNation, Inc.(a)(b) |
80,491 | 8,199,618 | ||||||
|
AutoZone, Inc.(a) |
3,738 | 8,006,534 | ||||||
|
Bath & Body Works, Inc. |
483,751 | 15,770,283 | ||||||
|
Best Buy Co., Inc. |
293,515 | 18,591,240 | ||||||
|
Burlington Stores, Inc.(a)(b) |
7,901 | 884,043 | ||||||
|
CarMax, Inc.(a)(b) |
301,313 | 19,892,684 | ||||||
|
Dick’s Sporting Goods, Inc.(b) |
114,204 | 11,950,307 | ||||||
|
GameStop Corp., Class A(a)(b) |
563,464 | 14,159,850 | ||||||
|
Gap, Inc. |
422,577 | 3,469,357 | ||||||
|
Leslie’s, Inc.(a)(b) |
41,309 | 607,655 | ||||||
|
Lithia Motors, Inc.(b) |
57,317 | 12,297,362 | ||||||
|
O’Reilly Automotive, Inc.(a) |
78,527 | 55,231,966 | ||||||
| Security | Shares | Value | ||||||
| Specialty Retail (continued) | ||||||||
|
Penske Automotive Group, Inc.(b) |
57,480 | $ | 5,657,757 | |||||
|
Petco Health & Wellness Co., Inc.(a)(b) |
168,895 | 1,884,868 | ||||||
|
RH(a)(b) |
26,155 | 6,435,961 | ||||||
|
Ross Stores, Inc. |
420,361 | 35,423,822 | ||||||
|
Victoria’s Secret & Co.(a)(b) |
49,464 | 1,440,392 | ||||||
|
Williams-Sonoma, Inc. |
30,491 | 3,593,364 | ||||||
|
|
|
|||||||
| 241,964,725 | ||||||||
| Technology Hardware, Storage & Peripherals — 0.8% | ||||||||
|
Dell Technologies, Inc., Class C |
463,910 | 15,851,805 | ||||||
|
Hewlett Packard Enterprise Co. |
2,746,757 | 32,906,149 | ||||||
|
HP, Inc. |
1,183,500 | 29,492,820 | ||||||
|
Western Digital Corp.(a) |
664,023 | 21,613,948 | ||||||
|
|
|
|||||||
| 99,864,722 | ||||||||
| Textiles, Apparel & Luxury Goods — 0.8% | ||||||||
|
Capri Holdings Ltd.(a) |
284,541 | 10,937,756 | ||||||
|
Carter’s, Inc. |
79,048 | 5,180,015 | ||||||
|
Columbia Sportswear Co. |
75,829 | 5,103,292 | ||||||
|
Deckers Outdoor Corp.(a) |
6,642 | 2,076,356 | ||||||
|
Hanesbrands, Inc. |
731,522 | 5,091,393 | ||||||
|
PVH Corp. |
140,962 | 6,315,098 | ||||||
|
Ralph Lauren Corp. |
89,485 | 7,599,961 | ||||||
|
Skechers USA, Inc., Class A(a) |
238,420 | 7,562,682 | ||||||
|
Tapestry, Inc. |
460,661 | 13,096,592 | ||||||
|
Under Armour, Inc., Class A(a) |
396,621 | 2,637,530 | ||||||
|
Under Armour, Inc., Class C, NVS(a) |
422,765 | 2,519,679 | ||||||
|
VF Corp. |
741,444 | 22,176,590 | ||||||
|
|
|
|||||||
| 90,296,944 | ||||||||
| Thrifts & Mortgage Finance — 0.2% | ||||||||
|
MGIC Investment Corp. |
645,931 | 8,280,835 | ||||||
|
New York Community Bancorp, Inc. |
979,749 | 8,357,259 | ||||||
|
Rocket Cos., Inc., Class A(b) |
109,327 | 690,947 | ||||||
|
TFS Financial Corp. |
102,344 | 1,330,472 | ||||||
|
|
|
|||||||
| 18,659,513 | ||||||||
| Trading Companies & Distributors — 0.5% | ||||||||
|
Air Lease Corp., Class A(b) |
218,046 | 6,761,606 | ||||||
|
Core & Main, Inc., Class A(a)(b) |
98,734 | 2,245,211 | ||||||
|
MSC Industrial Direct Co., Inc., Class A |
98,523 | 7,173,460 | ||||||
|
SiteOne Landscape Supply, Inc.(a)(b) |
36,613 | 3,812,878 | ||||||
|
United Rentals, Inc.(a)(b) |
79,879 | 21,576,915 | ||||||
|
Univar Solutions, Inc.(a) |
351,347 | 7,989,631 | ||||||
|
Watsco, Inc. |
32,569 | 8,385,215 | ||||||
|
WESCO International, Inc.(a) |
44,044 | 5,257,973 | ||||||
|
|
|
|||||||
| 63,202,889 | ||||||||
| Water Utilities — 0.6% | ||||||||
|
American Water Works Co., Inc. |
384,615 | 50,061,488 | ||||||
|
Essential Utilities, Inc. |
491,516 | 20,338,932 | ||||||
|
|
|
|||||||
| 70,400,420 | ||||||||
|
|
|
|||||||
|
Total
Long-Term Investments — 99.9% |
11,828,083,823 | |||||||
|
|
|
|||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
39 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
|
|
||||||||
|
Short-Term Securities(c)(d) |
||||||||
| Money Market Funds — 4.7% | ||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares, 3.18%(e) |
550,653,898 | $ | 550,819,094 | |||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares, 2.81% |
12,286,278 | 12,286,278 | ||||||
|
|
|
|||||||
|
Total
Short-Term Securities — 4.7% |
563,105,372 | |||||||
|
|
|
|||||||
|
Total
Investments — 104.6% |
12,391,189,195 | |||||||
|
Liabilities in Excess of Other Assets — (4.6)% |
|
(550,534,197 | ) | |||||
|
|
|
|||||||
|
Net Assets — 100.0% |
$ | 11,840,654,998 | ||||||
|
|
|
|||||||
| (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, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
||||||||||||||||||||||||||||||||||||||||
| Affiliated Issuer |
Value at 03/31/22 |
Purchases at Cost |
Proceeds from Sale |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 09/30/22 |
Shares Held at 09/30/22 |
Income |
Capital Gain Distributions from Underlying Funds |
| ||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||
|
BlackRock Cash Funds: Institutional, SL Agency Shares |
$ | 397,536,030 | $ | 152,938,049 | (a) | $ | — | $ | 68,994 | $ | 276,021 | $ | 550,819,094 | 550,653,898 | $ | 2,065,385 | (b) | $ | — | |||||||||||||||||||||
|
BlackRock Cash Funds: Treasury, SL Agency Shares |
21,620,000 | — | (9,333,722 | )(a) | — | — | 12,286,278 | 12,286,278 | 118,427 | — | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| $ | 68,994 | $ | 276,021 | $ | 563,105,372 | $ | 2,183,812 | $ | — | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
| (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 |
||||||||||||||||
|
S&P 500 E-Mini Index |
36 | 12/16/22 | $ | 6,483 | $ | (637,292 | ) | |||||||||
|
S&P MidCap 400 E-Mini Index |
87 | 12/16/22 | 19,211 | (1,830,148 | ) | |||||||||||
|
|
|
|||||||||||||||
| $ | (2,467,440 | ) | ||||||||||||||
|
|
|
|||||||||||||||
| 40 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell 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 | ||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Liabilities — Derivative Financial Instruments |
||||||||||||||||||||||||||||
|
Futures contracts |
||||||||||||||||||||||||||||
|
Unrealized depreciation on futures contracts(a) |
$ | — | $ | — | $ | 2,467,440 | $ | — | $ | — | $ | — | $ | 2,467,440 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
| (a) |
Net cumulative unrealized appreciation (depreciation) on futures contracts are reported in the Schedule of Investments. In the Statements of Assets and Liabilities, only current day’s variation margin is reported in receivables or payables and the net cumulative unrealized appreciation (depreciation) is included in accumulated earnings (loss). |
For the period ended September 30, 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 |
$ | — | $ | — | $ | (1,354,601 | ) | $ | — | $ | — | $ | — | $ | (1,354,601 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
|
Net Change in Unrealized Appreciation (Depreciation) on |
||||||||||||||||||||||||||||
|
Futures contracts |
$ | — | $ | — | $ | (3,781,966 | ) | $ | — | $ | — | $ | — | $ | (3,781,966 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Average Quarterly Balances of Outstanding Derivative Financial Instruments
|
|
||||
|
Futures contracts |
||||
|
Average notional value of contracts — long |
$ | 31,380,020 | ||
|
|
||||
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 |
||||||||||||||||
|
Aerospace & Defense |
$ | 144,534,433 | $ | — | $ | — | $ | 144,534,433 | ||||||||
|
Air Freight & Logistics |
46,146,564 | — | — | 46,146,564 | ||||||||||||
|
Airlines |
96,592,132 | — | — | 96,592,132 | ||||||||||||
|
Auto Components |
80,362,576 | — | — | 80,362,576 | ||||||||||||
|
Automobiles |
54,631,039 | — | — | 54,631,039 | ||||||||||||
|
Banks |
600,432,090 | — | — | 600,432,090 | ||||||||||||
|
Beverages |
31,187,103 | — | — | 31,187,103 | ||||||||||||
|
Biotechnology |
161,275,738 | — | — | 161,275,738 | ||||||||||||
|
Building Products |
201,329,306 | — | — | 201,329,306 | ||||||||||||
|
Capital Markets |
541,839,232 | — | — | 541,839,232 | ||||||||||||
|
Chemicals |
465,345,037 | — | — | 465,345,037 | ||||||||||||
|
Commercial Services & Supplies |
99,608,080 | — | — | 99,608,080 | ||||||||||||
|
Communications Equipment |
143,909,511 | — | — | 143,909,511 | ||||||||||||
|
Construction & Engineering |
73,520,402 | — | — | 73,520,402 | ||||||||||||
|
Construction Materials |
62,792,576 | — | — | 62,792,576 | ||||||||||||
|
Consumer Finance |
130,126,163 | — | — | 130,126,163 | ||||||||||||
|
Containers & Packaging |
171,431,549 | 296,860 | — | 171,728,409 | ||||||||||||
|
Distributors |
65,840,583 | — | — | 65,840,583 | ||||||||||||
|
Diversified Consumer Services |
45,829,420 | — | — | 45,829,420 | ||||||||||||
|
S C H E D U L E S O F I N V E S T M E N T S |
41 |
|
Schedule of Investments (unaudited) (continued) September 30, 2022 |
iShares® Russell Mid-Cap Value ETF |
|
|
||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
|
|
||||||||||||||||
|
Common Stocks (continued) |
||||||||||||||||
|
Diversified Financial Services |
$ | 43,872,106 | $ | — | $ | — | $ | 43,872,106 | ||||||||
|
Diversified Telecommunication Services |
28,204,863 | — | — | 28,204,863 | ||||||||||||
|
Electric Utilities |
529,625,952 | — | — | 529,625,952 | ||||||||||||
|
Electrical Equipment |
180,547,764 | — | — | 180,547,764 | ||||||||||||
|
Electronic Equipment, Instruments & Components |
212,690,317 | — | — | 212,690,317 | ||||||||||||
|
Energy Equipment & Services |
81,099,007 | — | — | 81,099,007 | ||||||||||||
|
Entertainment |
142,419,484 | — | — | 142,419,484 | ||||||||||||
|
Equity Real Estate Investment Trusts (REITs) |
1,269,252,603 | — | — | 1,269,252,603 | ||||||||||||
|
Food & Staples Retailing |
119,402,680 | — | — | 119,402,680 | ||||||||||||
|
Food Products |
293,250,376 | — | — | 293,250,376 | ||||||||||||
|
Gas Utilities |
54,598,456 | — | — | 54,598,456 | ||||||||||||
|
Health Care Equipment & Supplies |
231,505,457 | — | — | 231,505,457 | ||||||||||||
|
Health Care Providers & Services |
218,723,307 | — | — | 218,723,307 | ||||||||||||
|
Health Care Technology |
27,335,965 | — | — | 27,335,965 | ||||||||||||
|
Hotels, Restaurants & Leisure |
246,823,411 | — | — | 246,823,411 | ||||||||||||
|
Household Durables |
168,220,546 | — | — | 168,220,546 | ||||||||||||
|
Household Products |
32,084,293 | — | — | 32,084,293 | ||||||||||||
|
Independent Power and Renewable Electricity Producers |
42,668,959 | — | — | 42,668,959 | ||||||||||||
|
Insurance |
799,791,784 | — | — | 799,791,784 | ||||||||||||
|
Interactive Media & Services |
43,022,073 | — | — | 43,022,073 | ||||||||||||
|
Internet & Direct Marketing Retail |
42,122,204 | — | — | 42,122,204 | ||||||||||||
|
IT Services |
276,468,086 | — | — | 276,468,086 | ||||||||||||
|
Leisure Products |
41,933,800 | — | — | 41,933,800 | ||||||||||||
|
Life Sciences Tools & Services |
103,691,615 | — | — | 103,691,615 | ||||||||||||
|
Machinery |
597,587,289 | — | — | 597,587,289 | ||||||||||||
|
Marine |
7,614,420 | — | — | 7,614,420 | ||||||||||||
|
Media |
186,130,845 | — | — | 186,130,845 | ||||||||||||
|
Metals & Mining |
162,247,546 | — | — | 162,247,546 | ||||||||||||
|
Mortgage Real Estate Investment Trusts (REITs) |
42,619,022 | — | — | 42,619,022 | ||||||||||||
|
Multiline Retail |
64,816,126 | — | — | 64,816,126 | ||||||||||||
|
Multi-Utilities |
368,585,979 | — | — | 368,585,979 | ||||||||||||
|
Oil, Gas & Consumable Fuels |
531,414,906 | — | — | 531,414,906 | ||||||||||||
|
Paper & Forest Products |
7,158,666 | — | — | 7,158,666 | ||||||||||||
|
Personal Products |
4,599,342 | — | — | 4,599,342 | ||||||||||||
|
Pharmaceuticals |
122,173,585 | — | — | 122,173,585 | ||||||||||||
|
Professional Services |
213,122,991 | — | — | 213,122,991 | ||||||||||||
|
Real Estate Management & Development |
58,140,198 | — | — | 58,140,198 | ||||||||||||
|
Road & Rail |
67,156,492 | — | — | 67,156,492 | ||||||||||||
|
Semiconductors & Semiconductor Equipment |
158,301,328 | — | — | 158,301,328 | ||||||||||||
|
Software |
191,108,815 | 14,531,558 | — | 205,640,373 | ||||||||||||
|
Specialty Retail |
241,964,725 | — | — | 241,964,725 | ||||||||||||
|
Technology Hardware, Storage & Peripherals |
99,864,722 | — | — | 99,864,722 | ||||||||||||
|
Textiles, Apparel & Luxury Goods |
90,296,944 | — | — | 90,296,944 | ||||||||||||
|
Thrifts & Mortgage Finance |
18,659,513 | — | — | 18,659,513 | ||||||||||||
|
Trading Companies & Distributors |
63,202,889 | — | — | 63,202,889 | ||||||||||||
|
Water Utilities |
70,400,420 | — | — | 70,400,420 | ||||||||||||
|
Short-Term
Securities |
563,105,372 | — | — | 563,105,372 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 12,376,360,777 | $ | 14,828,418 | $ | — | $ | 12,391,189,195 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Derivative
Financial Instruments(a) |
||||||||||||||||
|
Equity Contracts |
$ | (2,467,440 | ) | $ | — | $ | — | $ | (2,467,440 | ) | ||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
See notes to financial statements.
| 42 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Assets and Liabilities (unaudited)
September 30, 2022
|
iShares Russell 3000 ETF |
iShares Russell Mid-Cap Value ETF |
|||||||
|
ASSETS |
||||||||
|
Investments, at value — unaffiliated(a)(b) |
$ | 9,402,323,851 | $ | 11,828,083,823 | ||||
|
Investments, at value — affiliated(c) |
336,040,846 | 563,105,372 | ||||||
|
Cash |
3,480,166 | 6,045,956 | ||||||
|
Cash pledged for futures contracts |
1,375,459 | 1,596,590 | ||||||
|
Receivables: |
||||||||
|
Investments sold |
8,333,989 | 73,018,960 | ||||||
|
Securities lending income — affiliated |
169,011 | 404,210 | ||||||
|
Dividends — unaffiliated |
7,734,926 | 20,240,247 | ||||||
|
Dividends — affiliated |
35,268 | 44,134 | ||||||
|
|
|
|
|
|||||
|
Total assets |
9,759,493,516 | 12,492,539,292 | ||||||
|
|
|
|
|
|||||
|
LIABILITIES |
||||||||
|
Collateral on securities loaned |
305,073,342 | 550,409,732 | ||||||
|
Payables: |
||||||||
|
Investments purchased |
8,281,461 | 98,723,510 | ||||||
|
Investment advisory fees |
1,675,936 | 2,471,032 | ||||||
|
Variation margin on futures contracts |
290,970 | 280,020 | ||||||
|
|
|
|
|
|||||
|
Total liabilities |
315,321,709 | 651,884,294 | ||||||
|
|
|
|
|
|||||
|
NET ASSETS |
$ | 9,444,171,807 | $ | 11,840,654,998 | ||||
|
|
|
|
|
|||||
|
NET ASSETS CONSIST OF: |
||||||||
|
Paid-in capital |
$ | 8,093,022,358 | $ | 11,997,615,042 | ||||
|
Accumulated earnings (loss) |
1,351,149,449 | (156,960,044 | ) | |||||
|
|
|
|
|
|||||
|
NET ASSETS |
$ | 9,444,171,807 | $ | 11,840,654,998 | ||||
|
|
|
|
|
|||||
|
NET ASSET VALUE |
||||||||
|
Shares outstanding |
45,650,000 | 123,400,000 | ||||||
|
|
|
|
|
|||||
|
Net asset value |
$ | 206.88 | $ | 95.95 | ||||
|
|
|
|
|
|||||
|
Shares authorized |
Unlimited | Unlimited | ||||||
|
|
|
|
|
|||||
|
Par value |
None | None | ||||||
|
|
|
|
|
|||||
|
(a) Investments, at cost — unaffiliated |
$ | 8,057,010,870 | $ | 11,994,898,829 | ||||
|
(b) Securities loaned, at value |
$ | 293,847,129 | $ | 526,439,166 | ||||
|
(c) Investments, at cost — affiliated |
$ | 334,391,146 | $ | 562,768,315 | ||||
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
43 |
Statements of Operations (unaudited)
Six Months Ended September 30, 2022
|
iShares Russell 3000 ETF |
iShares Russell Mid-Cap Value ETF |
|||||||
|
INVESTMENT INCOME |
||||||||
|
Dividends — unaffiliated |
$ | 86,263,705 | $ | 145,769,082 | ||||
|
Dividends — affiliated |
489,350 | 118,427 | ||||||
|
Securities lending income — affiliated — net |
1,195,280 | 2,065,385 | ||||||
|
Foreign taxes withheld |
(22,760 | ) | (47,581 | ) | ||||
|
|
|
|
|
|||||
|
Total investment income |
87,925,575 | 147,905,313 | ||||||
|
|
|
|
|
|||||
|
EXPENSES |
||||||||
|
Investment advisory |
10,673,740 | 15,692,859 | ||||||
|
|
|
|
|
|||||
|
Total expenses |
10,673,740 | 15,692,859 | ||||||
|
|
|
|
|
|||||
|
Net investment income |
77,251,835 | 132,212,454 | ||||||
|
|
|
|
|
|||||
|
REALIZED AND UNREALIZED GAIN (LOSS) |
||||||||
|
Net realized gain (loss) from: |
||||||||
|
Investments — unaffiliated |
(100,673,307 | ) | (231,646,104 | ) | ||||
|
Investments — affiliated |
646,565 | 68,994 | ||||||
|
Futures contracts |
(2,472,030 | ) | (1,354,601 | ) | ||||
|
In-kind redemptions — unaffiliated(a) |
317,889,310 | 744,554,506 | ||||||
|
|
|
|
|
|||||
| 215,390,538 | 511,622,795 | |||||||
|
|
|
|
|
|||||
|
Net change in unrealized appreciation (depreciation) on: |
||||||||
|
Investments — unaffiliated |
(2,711,119,675 | ) | (3,378,370,050 | ) | ||||
|
Investments — affiliated |
(8,732,783 | ) | 276,021 | |||||
|
Futures contracts |
(2,863,212 | ) | (3,781,966 | ) | ||||
|
|
|
|
|
|||||
| (2,722,715,670 | ) | (3,381,875,995 | ) | |||||
|
|
|
|
|
|||||
|
Net realized and unrealized loss |
(2,507,325,132 | ) | (2,870,253,200 | ) | ||||
|
|
|
|
|
|||||
|
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS |
$ | (2,430,073,297 | ) | $ | (2,738,040,746 | ) | ||
|
|
|
|
|
|||||
| (a) |
See Note 2 of the Notes to Financial Statements. |
See notes to financial statements.
| 44 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Statements of Changes in Net Assets
| iShares Russell 3000 ETF | iShares Russell Mid-Cap Value ETF | |||||||||||||||
|
|
|
|
|
|||||||||||||
|
Six Months Ended 09/30/22 (unaudited) |
Year Ended 03/31/22 |
Six Months Ended (unaudited) |
Year Ended 03/31/22 |
|||||||||||||
|
INCREASE (DECREASE) IN NET ASSETS |
||||||||||||||||
|
OPERATIONS |
||||||||||||||||
|
Net investment income |
$ | 77,251,835 | $ | 132,413,906 | $ | 132,212,454 | $ | 200,831,244 | ||||||||
|
Net realized gain |
215,390,538 | 856,447,831 | 511,622,795 | 1,226,700,162 | ||||||||||||
|
Net change in unrealized appreciation (depreciation) |
(2,722,715,670 | ) | 290,779,607 | (3,381,875,995 | ) | 53,384,283 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Net increase (decrease) in net assets resulting from operations |
(2,430,073,297 | ) | 1,279,641,344 | (2,738,040,746 | ) | 1,480,915,689 | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
DISTRIBUTIONS TO SHAREHOLDERS(a) |
||||||||||||||||
|
Decrease in net assets resulting from distributions to shareholders |
(73,409,927 | ) | (135,842,146 | ) | (121,931,401 | ) | (220,370,366 | ) | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
CAPITAL SHARE TRANSACTIONS |
||||||||||||||||
|
Net increase (decrease) in net assets derived from capital share transactions |
(69,827,527 | ) | (84,663,380 | ) | (207,118,120 | ) | 527,173,955 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
NET ASSETS |
||||||||||||||||
|
Total increase (decrease) in net assets |
(2,573,310,751 | ) | 1,059,135,818 | (3,067,090,267 | ) | 1,787,719,278 | ||||||||||
|
Beginning of period |
12,017,482,558 | 10,958,346,740 | 14,907,745,265 | 13,120,025,987 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
End of period |
$ | 9,444,171,807 | $ | 12,017,482,558 | $ | 11,840,654,998 | $ | 14,907,745,265 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
See notes to financial statements.
|
F I N A N C I A L S T A T E M E N T S |
45 |
(For a share outstanding throughout each period)
| iShares Russell 3000 ETF | ||||||||||||||||||||||||
|
Six Months Ended 09/30/22 (unaudited) |
Year Ended 03/31/22 |
Year Ended 03/31/21 |
Year Ended 03/31/20 |
Year Ended 03/31/19 |
Year Ended 03/31/18 |
|||||||||||||||||||
|
Net asset value, beginning of period |
$ | 262.10 | $ | 237.19 | $ | 148.31 | $ | 166.74 | $ | 156.30 | $ | 139.89 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income(a) |
1.70 | 2.87 | 2.73 | 2.91 | 2.78 | 2.53 | ||||||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(55.31 | ) | 25.00 | 89.03 | (18.04 | ) | 10.52 | 16.45 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) from investment operations |
(53.61 | ) | 27.87 | 91.76 | (15.13 | ) | 13.30 | 18.98 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Distributions from net investment income(c) |
(1.61 | ) | (2.96 | ) | (2.88 | ) | (3.30 | ) | (2.86 | ) | (2.57 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net asset value, end of period |
$ | 206.88 | $ | 262.10 | $ | 237.19 | $ | 148.31 | $ | 166.74 | $ | 156.30 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Total Return(d) |
||||||||||||||||||||||||
|
Based on net asset value |
(20.49 | )%(e) | 11.75 | % | 62.21 | % | (9.29 | )% | 8.59 | % | 13.64 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||
|
Total expenses |
0.20 | %(g) | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income |
1.45 | %(g) | 1.10 | % | 1.37 | % | 1.69 | % | 1.72 | % | 1.68 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 9,444,172 | $ | 12,017,483 | $ | 10,958,347 | $ | 8,230,988 | $ | 9,379,045 | $ | 8,182,126 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Portfolio turnover rate(h) |
3 | % | 5 | % | 4 | % | 5 | % | 5 | % | 4 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Not annualized. |
| (f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
| 46 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Financial Highlights
(For a share outstanding throughout each period)
| iShares Russell Mid-Cap Value ETF | ||||||||||||||||||||||||
|
Six Months Ended 09/30/22 |
Year Ended 03/31/22 |
Year Ended 03/31/21 |
Year Ended 03/31/20 |
Year Ended 03/31/19 |
Year Ended 03/31/18 |
|||||||||||||||||||
|
Net asset value, beginning of period |
$ | 119.55 | $ | 109.15 | $ | 64.10 | $ | 86.86 | $ | 86.44 | $ | 83.02 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income(a) |
1.08 | 1.62 | 1.43 | 1.93 | 1.67 | 1.69 | ||||||||||||||||||
|
Net realized and unrealized gain (loss)(b) |
(23.68 | ) | 10.55 | 45.22 | (22.63 | ) | 0.70 | 3.48 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net increase (decrease) from investment operations |
(22.60 | ) | 12.17 | 46.65 | (20.70 | ) | 2.37 | 5.17 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Distributions from net investment income(c) |
(1.00 | ) | (1.77 | ) | (1.60 | ) | (2.06 | ) | (1.95 | ) | (1.75 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net asset value, end of period |
$ | 95.95 | $ | 119.55 | $ | 109.15 | $ | 64.10 | $ | 86.86 | $ | 86.44 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Total Return(d) |
||||||||||||||||||||||||
|
Based on net asset value |
(18.95 | )%(e) | 11.19 | % | 73.40 | % | (24.28 | )% | 2.78 | % | 6.28 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Ratios to Average Net Assets(f) |
||||||||||||||||||||||||
|
Total expenses |
0.23 | %(g) | 0.23 | % | 0.23 | % | 0.24 | % | 0.24 | % | 0.24 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Net investment income |
1.97 | %(g) | 1.39 | % | 1.65 | % | 2.18 | % | 1.93 | % | 1.98 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Supplemental Data |
||||||||||||||||||||||||
|
Net assets, end of period (000) |
$ | 11,840,655 | $ | 14,907,745 | $ | 13,120,026 | $ | 8,201,945 | $ | 11,218,007 | $ | 10,533,292 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Portfolio turnover rate(h) |
16 | % | 21 | % | 25 | % | 20 | % | 25 | % | 20 | % | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (a) |
Based on average shares outstanding. |
| (b) |
The amounts reported for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period due to the timing of capital share transactions in relation to the fluctuating market values of the Fund’s underlying securities. |
| (c) |
Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
| (d) |
Where applicable, assumes the reinvestment of distributions. |
| (e) |
Not annualized. |
| (f) |
Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
| (g) |
Annualized. |
| (h) |
Portfolio turnover rate excludes in-kind transactions. |
See notes to financial statements.
|
F I N A N C I A L H I G H L I G H T S |
47 |
Notes to Financial Statements (unaudited)
| 1. |
ORGANIZATION |
iShares Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust is organized as a Delaware statutory trust and is authorized to have multiple series or portfolios.
These financial statements relate only to the following funds (each, a “Fund” and collectively, the “Funds”):
|
|
||||
| iShares ETF | Diversification Classification |
|||
|
|
||||
|
Russell 3000 |
Diversified | |||
|
Russell Mid-Cap Value |
Diversified | |||
|
|
||||
| 2. |
SIGNIFICANT ACCOUNTING POLICIES |
The financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates. Each Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. Below is a summary of significant accounting policies:
Investment Transactions and Income Recognition: For financial reporting purposes, investment transactions are recorded on the dates the transactions are executed. Realized gains and losses on investment transactions are determined using the specific identification method. Dividend income and capital gain distributions, if any, are recorded on the ex-dividend date. Non-cash dividends, if any, are recorded on the ex-dividend date at fair value. Upon notification from issuers or as estimated by management, a portion of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain.
Foreign Taxes: The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, capital gains on investments, or certain foreign currency transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and rates that exist in the foreign jurisdiction in which each Fund invests. These foreign taxes, if any, are paid by each Fund and are reflected in its Statements of Operations as follows: foreign taxes withheld at source are presented as a reduction of income, foreign taxes on securities lending income are presented as a reduction of securities lending income, foreign taxes on stock dividends are presented as “Other foreign taxes”, and foreign taxes on capital gains from sales of investments and foreign taxes on foreign currency transactions are included in their respective net realized gain (loss) categories. Foreign taxes payable or deferred as of September 30, 2022, if any, are disclosed in the Statements of Assets and Liabilities.
The Funds file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction’s applicable laws, payment history and market convention. The Statements of Operations includes tax reclaims recorded as well as professional and other fees, if any, associated with recovery of foreign withholding taxes.
Collateralization: If required by an exchange or counterparty agreement, the Funds may be required to deliver/deposit cash and/or securities to/with an exchange, or broker-dealer or custodian as collateral for certain investments.
In-kind Redemptions: For financial reporting purposes, in-kind redemptions are treated as sales of securities resulting in realized capital gains or losses to the Funds. Because such gains or losses are not taxable to the Funds and are not distributed to existing Fund shareholders, the gains or losses are reclassified from accumulated net realized gain (loss) to paid-in capital at the end of the Funds’ tax year. These reclassifications have no effect on net assets or net asset value (“NAV”) per share.
Distributions: Dividends and distributions paid by each Fund are recorded on the ex-dividend dates. Distributions are determined on a tax basis and may differ from net investment income and net realized capital gains for financial reporting purposes. Dividends and distributions are paid in U.S. dollars and cannot be automatically reinvested in additional shares of the Funds. The character and timing of distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP.
Indemnifications: In the normal course of business, each Fund enters into contracts that contain a variety of representations that provide general indemnification. The Funds’ maximum exposure under these arrangements is unknown because it involves future potential claims against the Funds, which cannot be predicted with any certainty.
| 3. |
INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
Investment Valuation Policies: Each Fund’s investments are valued at fair value (also referred to as “market value” within the financial statements) each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date. U.S. GAAP defines fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Board of Trustees of the Trust (the “Board”) of each Fund has approved the designation of BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, as the valuation designee for each Fund. Each Fund determines the fair values of its financial instruments using various independent dealers or pricing services under BFA’s policies. If a security’s market price is not readily available or does not otherwise accurately represent the fair value of the security, the security will be valued in accordance with BFA’s policies and procedures as reflecting fair value. BFA has formed a committee (the “Valuation Committee”) to develop pricing policies and procedures and to oversee the pricing function for all financial instruments, with assistance from other BlackRock pricing committees.
| 48 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
Fair Value Inputs and Methodologies: The following methods and inputs are used to establish the fair value of each Fund’s assets and liabilities:
| • |
Equity investments traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price. |
| • |
Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
| • |
Futures contracts are valued based on that day’s last reported settlement or trade price on the exchange where the contract is traded. |
If events (e.g., market volatility, company announcement or a natural disaster) occur that are expected to materially affect the value of such investment, or in the event that application of these methods of valuation results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available, the investment will be valued by the Valuation Committee, in accordance with BFA’s policies and procedures as reflecting fair value (“Fair Valued Investments”). The fair valuation approaches that may be used by the Valuation Committee include market approach, income approach and cost approach. Valuation techniques such as discounted cash flow, use of market comparables and matrix pricing are types of valuation approaches and are typically used in determining fair value. When determining the price for Fair Valued Investments, the Valuation Committee seeks to determine the price that each Fund might reasonably expect to receive or pay from the current sale or purchase of that asset or liability in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that the Valuation Committee deems relevant and consistent with the principles of fair value measurement.
Fair value pricing could result in a difference between the prices used to calculate a fund’s NAV and the prices used by the fund’s underlying index, which in turn could result in a difference between the fund’s performance and the performance of the fund’s underlying index.
Fair Value Hierarchy: Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| • |
Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
| • |
Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
| • |
Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
| 4. |
SECURITIES AND OTHER INVESTMENTS |
Warrants: Warrants entitle a fund to purchase a specified number of shares of common stock and are non-income producing. The purchase price and number of shares are subject to adjustment under certain conditions until the expiration date of the warrants, if any. If the price of the underlying stock does not rise above the strike price before the warrant expires, the warrant generally expires without any value and a fund will lose any amount it paid for the warrant. Thus, investments in warrants may involve more risk than investments in common stock. Warrants may trade in the same markets as their underlying stock; however, the price of the warrant does not necessarily move with the price of the underlying stock.
Securities Lending: Each Fund may lend its securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by an approved bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Fund and any additional required collateral is delivered to the Fund or excess collateral is returned by the Fund, on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities but does not receive interest income on securities received as collateral. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.
As of period end, any securities on loan were collateralized by cash and/or U.S. Government obligations. Cash collateral invested in money market funds managed by BFA or its affiliates is disclosed in the Schedule of Investments. Any non-cash collateral received cannot be sold, re-invested or pledged by the Fund, except in the event of borrower default. The securities on loan, if any, are also disclosed in each Fund’s Schedule of Investments. The market value of any securities on loan and the value of any related cash collateral are disclosed in the Statements of Assets and Liabilities.
Securities lending transactions are entered into by the Funds under Master Securities Lending Agreements (each, an “MSLA”) which provide the right, in the event of default (including bankruptcy or insolvency) for the non-defaulting party to liquidate the collateral and calculate a net exposure to the defaulting party or request additional collateral. In the event that a borrower defaults, the Funds, as lender, would offset the market value of the collateral received against the market value of the securities loaned. When the value of the collateral is greater than that of the market value of the securities loaned, the lender is left with a net amount payable to the defaulting party. However, bankruptcy
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
49 |
Notes to Financial Statements (unaudited) (continued)
or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against such a right of offset in the event of an MSLA counterparty’s bankruptcy or insolvency. Under the MSLA, absent an event of default, the borrower can resell or re-pledge the loaned securities, and the Funds can reinvest cash collateral received in connection with loaned securities. Upon an event of default, the parties’ obligations to return the securities or collateral to the other party are extinguished, and the parties can resell or re-pledge the loaned securities or the collateral received in connection with the loaned securities in order to satisfy the defaulting party’s net payment obligation for all transactions under the MSLA. The defaulting party remains liable for any deficiency.
As of period end, the following table is a summary of the securities on loan by counterparty which are subject to offset under an MSLA:
| iShares ETF and Counterparty | |
Securities Loaned at Value |
|
|
Cash Collateral Received |
(a) |
|
Non-Cash Collateral Received, |
|
|
Net Amount |
(b) | ||||
|
Russell 3000 |
||||||||||||||||
|
Barclays Bank PLC |
$ | 3,361,334 | $ | (3,361,334 | ) | $ | — | $ | — | |||||||
|
Barclays Capital, Inc. |
194,514 | (157,922 | ) | — | 36,592 | |||||||||||
|
BMO Capital Markets Corp. |
329,860 | (329,860 | ) | — | — | |||||||||||
|
BNP Paribas SA |
38,720,071 | (38,720,071 | ) | — | — | |||||||||||
|
BofA Securities, Inc. |
23,067,215 | (23,067,215 | ) | — | — | |||||||||||
|
Citadel Clearing LLC |
538,068 | (538,068 | ) | — | — | |||||||||||
|
Citigroup Global Markets, Inc. |
12,418,805 | (12,418,805 | ) | — | — | |||||||||||
|
Credit Suisse Securities (USA) LLC |
185,400 | (185,400 | ) | — | — | |||||||||||
|
Deutsche Bank Securities, Inc. |
35,188 | (35,188 | ) | — | — | |||||||||||
|
Goldman Sachs & Co. LLC |
33,784,839 | (33,784,839 | ) | — | — | |||||||||||
|
HSBC Bank PLC |
58,153,721 | (58,153,721 | ) | — | — | |||||||||||
|
ING Financial Markets LLC |
96,908 | (96,908 | ) | — | — | |||||||||||
|
J.P. Morgan Securities LLC |
27,251,540 | (27,251,540 | ) | — | — | |||||||||||
|
Jefferies LLC |
2,520,150 | (2,520,150 | ) | — | — | |||||||||||
|
Morgan Stanley |
21,068,528 | (21,068,528 | ) | — | — | |||||||||||
|
National Financial Services LLC |
561,870 | (561,870 | ) | — | — | |||||||||||
|
Natixis SA |
314,346 | (314,346 | ) | — | — | |||||||||||
|
Pershing LLC |
4,468 | (4,468 | ) | — | — | |||||||||||
|
RBC Capital Market LLC |
511,080 | (511,080 | ) | — | — | |||||||||||
|
Scotia Capital (USA), Inc. |
20,706,989 | (20,706,989 | ) | — | — | |||||||||||
|
SG Americas Securities LLC |
4,118,747 | (4,118,747 | ) | — | — | |||||||||||
|
State Street Bank & Trust Co. |
1,332,809 | (1,332,809 | ) | — | — | |||||||||||
|
Toronto-Dominion Bank |
6,116,679 | (6,116,679 | ) | — | — | |||||||||||
|
UBS AG |
32,002,091 | (32,002,091 | ) | — | — | |||||||||||
|
UBS Securities LLC |
2,432,092 | (2,432,092 | ) | — | — | |||||||||||
|
Virtu Americas LLC |
1,274,479 | (1,274,479 | ) | — | — | |||||||||||
|
Wells Fargo Bank N.A. |
1,843,360 | (1,843,360 | ) | — | — | |||||||||||
|
Wells Fargo Securities LLC |
901,978 | (901,978 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 293,847,129 | $ | (293,810,537 | ) | $ | — | $ | 36,592 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
|
Russell Mid-Cap Value |
||||||||||||||||
|
Barclays Bank PLC |
$ | 38,935,087 | $ | (38,935,087 | ) | $ | — | $ | — | |||||||
|
Barclays Capital, Inc. |
473,343 | (473,343 | ) | — | — | |||||||||||
|
BMO Capital Markets Corp. |
121,118 | (121,118 | ) | — | — | |||||||||||
|
BNP Paribas SA |
99,051,021 | (99,051,021 | ) | — | — | |||||||||||
|
BofA Securities, Inc. |
11,676,990 | (11,676,990 | ) | — | — | |||||||||||
|
Citigroup Global Markets, Inc. |
5,439,491 | (5,439,491 | ) | — | — | |||||||||||
|
Goldman Sachs & Co. LLC |
103,943,202 | (103,943,202 | ) | — | — | |||||||||||
|
HSBC Bank PLC |
4,112,386 | (4,112,386 | ) | — | — | |||||||||||
|
ING Financial Markets LLC |
65,060 | (65,060 | ) | — | — | |||||||||||
|
J.P. Morgan Securities LLC |
52,469,773 | (52,469,773 | ) | — | — | |||||||||||
|
Jefferies LLC |
3,407,805 | (3,407,805 | ) | — | — | |||||||||||
|
Morgan Stanley |
68,547,772 | (68,547,772 | ) | — | — | |||||||||||
|
National Financial Services LLC |
3,337,906 | (3,337,906 | ) | — | — | |||||||||||
|
Natixis SA |
454,010 | (454,010 | ) | — | — | |||||||||||
|
RBC Capital Market LLC |
23,873,556 | (23,873,556 | ) | — | — | |||||||||||
|
Scotia Capital (USA), Inc. |
8,226,762 | (8,226,762 | ) | — | — | |||||||||||
|
SG Americas Securities LLC |
3,146,428 | (3,146,428 | ) | — | — | |||||||||||
|
State Street Bank & Trust Co. |
6,414,917 | (6,414,917 | ) | — | — | |||||||||||
|
Toronto-Dominion Bank |
22,795,647 | (22,795,647 | ) | — | — | |||||||||||
|
UBS AG |
64,319,859 | (64,319,859 | ) | — | — | |||||||||||
|
UBS Securities LLC |
3,775,921 | (3,775,921 | ) | — | — | |||||||||||
|
Wells Fargo Bank N.A. |
1,564,699 | (1,564,699 | ) | — | — | |||||||||||
|
Wells Fargo Securities LLC |
286,413 | (286,413 | ) | — | — | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 526,439,166 | $ | (526,439,166 | ) | $ | — | $ | — | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) |
Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Fund is disclosed in the Funds’ Statements of Assets and Liabilities. |
| 50 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
| (b) |
The market value of the loaned securities is determined as of September 30, 2022. Additional collateral is delivered to the Fund on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by the counterparty. |
The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, each Fund benefits from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of the securities loaned to the extent the collateral received does not cover the value of the securities loaned in the event of borrower default. Each Fund could incur a loss if the value of an investment purchased with cash collateral falls below the market value of the loaned securities or if the value of an investment purchased with cash collateral falls below the value of the original cash collateral received. Such losses are borne entirely by each Fund.
| 5. |
DERIVATIVE FINANCIAL INSTRUMENTS |
Futures Contracts: Futures contracts are purchased or sold to gain exposure to, or manage exposure to, changes in interest rates (interest rate risk) and changes in the value of equity securities (equity risk) or foreign currencies (foreign currency exchange rate risk).
Futures contracts are exchange-traded agreements between the Funds and a counterparty to buy or sell a specific quantity of an underlying instrument at a specified price and on a specified date. Depending on the terms of a contract, it is settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash amount on the settlement date. Upon entering into a futures contract, the Funds are required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on a contract’s size and risk profile. The initial margin deposit must then be maintained to an established level over the life of the contract. Amounts pledged, which are considered restricted, are included in cash pledged for futures contracts in the Statements of Assets and Liabilities.
Securities deposited as initial margin are designated in the Schedule of Investments and cash deposited, if any, are shown as cash pledged for futures contracts in the Statements of Assets and Liabilities. Pursuant to the contract, the Funds agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in market value of the contract (“variation margin”). Variation margin is recorded as unrealized appreciation (depreciation) and, if any, shown as variation margin receivable (or payable) on futures contracts in the Statements of Assets and Liabilities. When the contract is closed, a realized gain or loss is recorded in the Statements of Operations equal to the difference between the notional amount of the contract at the time it was opened and the notional amount at the time it was closed. The use of futures contracts involves the risk of an imperfect correlation in the movements in the price of futures contracts and interest rates, foreign currency exchange rates or underlying assets.
| 6. |
INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
Investment Advisory Fees: Pursuant to an Investment Advisory Agreement with the Trust, BFA manages the investment of each Fund’s assets. BFA is a California corporation indirectly owned by BlackRock. Under the Investment Advisory Agreement, BFA is responsible for substantially all expenses of the Funds, except (i) interest and taxes; (ii) brokerage commissions and other expenses connected with the execution of portfolio transactions; (iii) distribution fees; (iv) the advisory fee payable to BFA; and (v) litigation expenses and any extraordinary expenses (in each case as determined by a majority of the independent trustees).
For its investment advisory services to the following fund, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the average daily net assets of the Fund, as follows:
| iShares ETF | Investment Advisory Fees | |
|
Russell 3000 |
0.20% | |
For its investment advisory services to the iShares Russell Mid-Cap Value ETF, BFA is entitled to an annual investment advisory fee, accrued daily and paid monthly by the Fund, based on the Fund’s allocable portion of the aggregate of the the average daily net assets of the Fund and certain other iShares funds, as follows:
| Aggregate Average Daily Net Assets | Investment Advisory Fees | |||
|
First $121 billion |
0.2500 | % | ||
|
Over $121 billion, up to and including $181 billion |
0.2375 | |||
|
Over $181 billion, up to and including $231 billion |
0.2257 | |||
|
Over $231 billion, up to and including $281 billion |
0.2144 | |||
|
Over $281 billion |
0.2037 | |||
Distributor: BlackRock Investments, LLC (“BRIL”), an affiliate of BFA, is the distributor for each Fund. Pursuant to the distribution agreement, BFA is responsible for any fees or expenses for distribution services provided to the Funds.
ETF Servicing Fees: Each Fund has entered into an ETF Services Agreement with BRIL to perform certain order processing, Authorized Participant communications, and related services in connection with the issuance and redemption of Creation Units (“ETF Services”). BRIL is entitled to a transaction fee from Authorized Participants on each creation or redemption order for the ETF Services provided. Each Fund does not pay BRIL for ETF Services.
Prior to April 25, 2022, ETF Services were performed by State Street Bank and Trust Company.
Securities Lending: The U.S. Securities and Exchange Commission (the “SEC”) has issued an exemptive order which permits BlackRock Institutional Trust Company, N.A. (“BTC”), an affiliate of BFA, to serve as securities lending agent for the Funds, subject to applicable conditions. As securities lending agent, BTC bears all operational costs directly related to securities lending, including any custodial costs. Each Fund is responsible for fees in connection with the investment of cash collateral received for securities on laon (the “collateral investment fees”). The cash collateral is invested in a money market fund, BlackRock Cash Funds: Institutional or BlackRock Cash Funds: Treasury,
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
51 |
Notes to Financial Statements (unaudited) (continued)
managed by BFA, or its affiliates. However, BTC has agreed to reduce the amount of securities lending income it receives in order to effectively limit the collateral investment fees each Fund bears to an annual rate of 0.04%. The SL Agency Shares of such money market fund will not be subject to a sales load, distribution fee or service fee. The money market fund in which the cash collateral has been invested may, under certain circumstances, impose a liquidity fee of up to 2% of the value redeemed or temporarily restrict redemptions for up to 10 business days during a 90 day period, in the event that the money market fund’s weekly liquid assets fall below certain thresholds.
Securities lending income is equal to the total of income earned from the reinvestment of cash collateral, net of fees and other payments to and from borrowers of securities, and less the collateral investment fees. Each Fund retains a portion of securities lending income and remits the remaining portion to BTC as compensation for its services as securities lending agent.
Pursuant to the current securities lending agreement, each Fund retains 81% of securities lending income (which excludes collateral investment fees) and the amount retained can never be less that 70% of the total of securities lending plus the collateral investment fees.
In addition, commencing the business day following the date that the aggregate securities lending income plus the collateral investment fees generated across all 1940 Act iShares exchange-traded funds (the “iShares ETF Complex”) in that calendar year exceeds a specified threshold, each Fund, pursuant to the securities lending agreement, will retain for the remainder of that calendar year 81% of securities lending income (which excludes collateral investment fees), and the amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees.
The share of securities lending income earned by each Fund is shown as securities lending income - affiliated - net in its Statements of Operations. For the six months ended September 30, 2022, the Funds paid BTC the following amounts for securities lending agent services:
|
|
||||
| iShares ETF | Amounts | |||
|
|
||||
|
Russell 3000 |
$ | 337,069 | ||
|
Russell Mid-Cap Value |
588,178 | |||
|
|
||||
Officers and Trustees: Certain officers and/or trustees of the Trust are officers and/or trustees of BlackRock or its affiliates.
Other Transactions: Cross trading is the buying or selling of portfolio securities between funds to which BFA (or an affiliate) serves as investment adviser. At its regularly scheduled quarterly meetings, the Board reviews such transactions as of the most recent calendar quarter for compliance with the requirements and restrictions set forth by Rule 17a-7.
For the six months ended September 30, 2022, transactions executed by the Funds pursuant to Rule 17a-7 under the 1940 Act were as follows:
|
|
||||||||||||
| iShares ETF | Purchases | Sales |
Net Realized Gain (Loss) |
|||||||||
|
|
||||||||||||
|
Russell 3000 |
$ | 25,660,830 | $ | 63,901,980 | $ | (29,583,401) | ||||||
|
Russell Mid-Cap Value |
1,040,871,249 | 1,122,464,144 | (176,830,809) | |||||||||
|
|
||||||||||||
Each Fund may invest its positive cash balances in certain money market funds managed by BFA or an affiliate. The income earned on these temporary cash investments is shown as dividends - affiliated in the Statements of Operations.
A fund, in order to improve its portfolio liquidity and its ability to track its underlying index, may invest in shares of other iShares funds that invest in securities in the fund’s underlying index.
| 7. |
PURCHASES AND SALES |
For the six months ended September 30, 2022, purchases and sales of investments, excluding short-term securities and in-kind transactions, were as follows:
|
|
||||||||
| iShares ETF | Purchases | Sales | ||||||
|
|
||||||||
|
Russell 3000 |
$ | 299,564,963 | $ | 294,448,624 | ||||
|
Russell Mid-Cap Value |
2,157,709,385 | 2,141,695,987 | ||||||
|
|
||||||||
For the six months ended September 30, 2022, in-kind transactions were as follows:
|
|
||||||||
| iShares ETF | In-kind Purchases |
In-kind Sales |
||||||
|
|
||||||||
|
Russell 3000 |
$ | 555,558,481 | $ | 624,734,749 | ||||
|
Russell Mid-Cap Value |
1,831,575,216 | 2,021,621,516 | ||||||
|
|
||||||||
| 8. |
INCOME TAX INFORMATION |
Each Fund is treated as an entity separate from the Trust’s other funds for federal income tax purposes. It is each Fund’s policy to comply with the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies, and to distribute substantially all of its taxable income to its shareholders. Therefore, no U.S. federal income tax provision is required.
| 52 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Notes to Financial Statements (unaudited) (continued)
Management has analyzed tax laws and regulations and their application to the Funds as of September 30, 2022, inclusive of the open tax return years, and does not believe that there are any uncertain tax positions that require recognition of a tax liability in the Funds’ financial statements.
As of March 31, 2022, the Funds had non-expiring capital loss carryforwards available to offset future realized capital gains as follows:
|
|
||||
| iShares ETF | Non-Expiring | |||
|
|
||||
|
Russell 3000 |
$ | 134,214,036 | ||
|
Russell Mid-Cap Value |
414,944,990 | |||
|
|
||||
As of September 30, 2022, gross unrealized appreciation and depreciation based on cost of investments (including short positions and derivatives, if any) for U.S. federal income tax purposes were as follows:
|
|
||||||||||||||||
| iShares ETF | Tax Cost |
Gross Unrealized Appreciation |
Gross Unrealized Depreciation |
Net Unrealized Appreciation (Depreciation) |
||||||||||||
|
|
||||||||||||||||
|
Russell 3000 |
$ | 8,469,370,446 | $ | 2,208,952,619 | $ | (941,721,778 | ) | $ | 1,267,230,841 | |||||||
|
Russell Mid-Cap Value |
12,651,326,131 | 1,340,967,465 | (1,603,550,751 | ) | (262,583,286 | ) | ||||||||||
|
|
||||||||||||||||
| 9. |
PRINCIPAL RISKS |
In the normal course of business, each Fund invests in securities or other instruments and may enter into certain transactions, and such activities subject the Fund to various risks, including, among others, fluctuations in the market (market risk) or failure of an issuer to meet all of its obligations. The value of securities or other instruments may also be affected by various factors, including, without limitation: (i) the general economy; (ii) the overall market as well as local, regional or global political and/or social instability; (iii) regulation, taxation or international tax treaties between various countries; or (iv) currency, interest rate or price fluctuations. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Funds and their investments. Each Fund’s prospectus provides details of the risks to which the Fund is subject.
BFA uses a “passive” or index approach to try to achieve each Fund’s investment objective following the securities included in its underlying index during upturns as well as downturns. BFA does not take steps to reduce market exposure or to lessen the effects of a declining market. Divergence from the underlying index and the composition of the portfolio is monitored by BFA.
The Funds may be exposed to additional risks when reinvesting cash collateral in money market funds that do not seek to maintain a stable NAV per share of $1.00, which may be subject to redemption gates or liquidity fees under certain circumstances.
Market Risk: An outbreak of respiratory disease caused by a novel coronavirus has developed into a global pandemic and has resulted in closing borders, quarantines, disruptions to supply chains and customer activity, as well as general concern and uncertainty. The impact of this pandemic, and other global health crises that may arise in the future, could affect the economies of many nations, individual companies and the market in general in ways that cannot necessarily be foreseen at the present time. This pandemic may result in substantial market volatility and may adversely impact the prices and liquidity of a fund’s investments. Although vaccines have been developed and approved for use by various governments, the duration of this pandemic and its effects cannot be determined with certainty.
Valuation Risk: The market values of equities, such as common stocks and preferred securities or equity related investments, such as futures and options, may decline due to general market conditions which are not specifically related to a particular company. They may also decline due to factors which affect a particular industry or industries. A fund may invest in illiquid investments. An illiquid investment is any investment that a fund reasonably expects cannot be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment. A fund may experience difficulty in selling illiquid investments in a timely manner at the price that it believes the investments are worth. Prices may fluctuate widely over short or extended periods in response to company, market or economic news. Markets also tend to move in cycles, with periods of rising and falling prices. This volatility may cause a fund’s NAV to experience significant increases or decreases over short periods of time. If there is a general decline in the securities and other markets, the NAV of a fund may lose value, regardless of the individual results of the securities and other instruments in which a fund invests.
The price each Fund could receive upon the sale of any particular portfolio investment may differ from each Fund’s valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair valuation technique or a price provided by an independent pricing service. Changes to significant unobservable inputs and assumptions (i.e., publicly traded company multiples, growth rate, time to exit) due to the lack of observable inputs.
Counterparty Credit Risk: The Funds may be exposed to counterparty credit risk, or the risk that an entity may fail to or be unable to perform on its commitments related to unsettled or open transactions, including making timely interest and/or principal payments or otherwise honoring its obligations. The Funds manage counterparty credit risk by entering into transactions only with counterparties that BFA believes have the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which potentially expose the Funds to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from counterparties. The extent of the Funds’ exposure to market, issuer and counterparty credit risks with respect to these financial assets is approximately their value recorded in the Statements of Assets and Liabilities, less any collateral held by the Funds.
A derivative contract may suffer a mark-to-market loss if the value of the contract decreases due to an unfavorable change in the market rates or values of the underlying instrument. Losses can also occur if the counterparty does not perform under the contract.
|
N O T E S T O F I N A N C I A L S T A T E M E N T S |
53 |
Notes to Financial Statements (unaudited) (continued)
With exchange-traded futures, there is less counterparty credit risk to the Funds since the exchange or clearinghouse, as counterparty to such instruments, guarantees against possible default. The clearinghouse stands between the buyer and the seller of the contract; therefore, credit risk is limited to failure of the clearinghouse. While offset rights may exist under applicable law, a Fund does not have a contractual right of offset against a clearing broker or clearinghouse in the event of a default (including the bankruptcy or insolvency). Additionally, credit risk exists in exchange-traded futures with respect to initial and variation margin that is held in a clearing broker’s customer accounts. While clearing brokers are required to segregate customer margin from their own assets, in the event that a clearing broker becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the clearing broker for all its clients, typically the shortfall would be allocated on a pro rata basis across all the clearing broker’s customers, potentially resulting in losses to the Funds.
Concentration Risk: A diversified portfolio, where this is appropriate and consistent with a fund’s objectives, minimizes the risk that a price change of a particular investment will have a material impact on the NAV of a fund. The investment concentrations within each Fund’s portfolio are disclosed in its Schedule of Investments.
The Funds invest a significant portion of their assets in securities within a single or limited number of market sectors. When a Fund concentrates its investments in this manner, it assumes the risk that economic, regulatory, political and social conditions affecting such sectors may have a significant impact on the fund and could affect the income from, or the value or liquidity of, the fund’s portfolio. Investment percentages in specific sectors are presented in the Schedule of Investments.
Significant Shareholder Redemption Risk: Certain shareholders may own or manage a substantial amount of fund shares and/or hold their fund investments for a limited period of time. Large redemptions of fund shares by these shareholders may force a fund to sell portfolio securities, which may negatively impact the fund’s NAV, increase the fund’s brokerage costs, and/or accelerate the realization of taxable income/gains and cause the fund to make additional taxable distributions to shareholders.
LIBOR Transition Risk: The United Kingdom’s Financial Conduct Authority announced a phase out of the London Interbank Offered Rate (“LIBOR”). Although many LIBOR rates ceased to be published or no longer are representative of the underlying market they seek to measure after December 31, 2021, a selection of widely used USD LIBOR rates will continue to be published through June 2023 in order to assist with the transition. The Funds may be exposed to financial instruments tied to LIBOR to determine payment obligations, financing terms, hedging strategies or investment value. The transition process away from LIBOR might lead to increased volatility and illiquidity in markets for, and reduce the effectiveness of new hedges placed against, instruments whose terms currently include LIBOR. The ultimate effect of the LIBOR transition process on the Funds is uncertain.
| 10. |
CAPITAL SHARE TRANSACTIONS |
Capital shares are issued and redeemed by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”) at NAV. Except when aggregated in Creation Units, shares of each Fund are not redeemable.
Transactions in capital shares were as follows:
|
Six Months Ended 09/30/22 |
Year Ended 03/31/22 |
|||||||||||||||||||
|
|
|
|
|
|||||||||||||||||
| iShares ETF | Shares | Amount | Shares | Amount | ||||||||||||||||
|
Russell 3000 |
||||||||||||||||||||
|
Shares sold |
2,450,000 | $ | 559,111,625 | 5,400,000 | $ | 1,415,391,570 | ||||||||||||||
|
Shares redeemed |
(2,650,000 | ) | (628,939,152 | ) | (5,750,000 | ) | (1,500,054,950 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| (200,000 | ) | $ | (69,827,527 | ) | (350,000 | ) | $ | (84,663,380 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Russell Mid-Cap Value |
||||||||||||||||||||
|
Shares sold |
17,750,000 | $ | 1,858,838,440 | 16,200,000 | $ | 1,882,610,327 | ||||||||||||||
|
Shares redeemed |
(19,050,000 | ) | (2,065,956,560 | ) | (11,700,000 | ) | (1,355,436,372 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| (1,300,000 | ) | $ | (207,118,120 | ) | 4,500,000 | $ | 527,173,955 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
The consideration for the purchase of Creation Units of a fund in the Trust generally consists of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Certain funds in the Trust may be offered in Creation Units solely or partially for cash in U.S. dollars. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to BRIL, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. Investors transacting in Creation Units for cash may also pay an additional variable charge to compensate the relevant fund for certain transaction costs (i.e., stamp taxes, taxes on currency or other financial transactions, and brokerage costs) and market impact expenses relating to investing in portfolio securities. Such variable charges, if any, are included in shares sold in the table above.
From time to time, settlement of securities related to in-kind contributions or in-kind redemptions may be delayed. In such cases, securities related to in-kind transactions are reflected as a receivable or a payable in the Statements of Assets and Liabilities.
| 11. |
SUBSEQUENT EVENTS |
Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were available to be issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements.
| 54 |
2 0 2 2 I S H A R E S S E M I - A N N U A L R E P O R T T O S H A R E H O L D E R S |
Board Review and Approval of Investment Advisory Contract
iShares Russell 3000 ETF (the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of the Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the
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Board Review and Approval of Investment Advisory Contract (continued)
revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services. The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund did not provide for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund increase. However, the Board noted that it would continue to assess the appropriateness of adding breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. Further, with respect to comparisons with one or more open-end index mutual funds registered under the 1940 Act managed by BFA (or an affiliate) that track the same index as the Fund and have investment advisory fee rates and overall expenses (net of waivers and reimbursements) that are lower than the investment advisory fee rate and overall expenses (net of waivers and reimbursements) of the Fund, the Board gave weight to management’s explanations of the relevant circumstances applicable to such mutual funds. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
iShares Russell Mid-Cap Value ETF (the “Fund”)
Under Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”), the Trust’s Board of Trustees (the “Board”), including a majority of Board Members who are not “interested persons” of the Trust (as that term is defined in the 1940 Act) (the “Independent Board Members”), is required annually to consider and approve the Investment Advisory Agreement between the Trust and BFA (the “Advisory Agreement”) on behalf of the Fund. The Board’s consideration entails a year-long process whereby the Board and its committees (composed solely of Independent Board Members) assess BlackRock’s services to the Fund, including investment management; fund accounting; administrative and shareholder services; oversight of the Fund’s service providers; risk management and oversight; legal and compliance services; and ability to meet applicable legal and regulatory requirements. The Independent Board Members requested, and BFA provided, such information as the Independent Board Members, with advice from independent counsel, deemed reasonably necessary to evaluate the Advisory Agreement. At meetings on May 3, 2022 and May 18, 2022, a committee composed
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Board Review and Approval of Investment Advisory Contract (continued)
of all of the Independent Board Members (the “15(c) Committee”), with independent counsel, met with management and reviewed and discussed information provided in response to initial requests of the 15(c) Committee and/or its independent counsel, and requested certain additional information, which management agreed to provide. At a meeting held on June 13-15, 2022, the Board, including the Independent Board Members, reviewed the additional information provided by management in response to these requests.
After extensive discussions and deliberations, the Board, including all of the Independent Board Members, approved the continuance of the Advisory Agreement for the Fund, based on a review of qualitative and quantitative information provided by BFA and their cumulative experience as Board Members. The Board noted its satisfaction with the extent and quality of information provided and its frequent interactions with management, as well as the detailed responses and other information provided by BFA. The Independent Board Members were advised by their independent counsel throughout the process, including about the legal standards applicable to their review. In approving the continuance of the Advisory Agreement for the Fund, the Board, including the Independent Board Members, considered various factors, including: (i) the expenses and performance of the Fund; (ii) the nature, extent and quality of the services provided by BFA; (iii) the costs of services provided to the Fund and profits realized by BFA and its affiliates; (iv) potential economies of scale and the sharing of related benefits; (v) the fees and services provided for other comparable funds/accounts managed by BFA and its affiliates; and (vi) other benefits to BFA and/or its affiliates. The material factors, none of which was controlling, and conclusions that formed the basis for the Board, including the Independent Board Members, to approve the continuance of the Advisory Agreement are discussed below.
Expenses and Performance of the Fund: The Board reviewed statistical information prepared by Broadridge Financial Solutions Inc. (“Broadridge”), an independent provider of investment company data, regarding the expense ratio components, including gross and net total expenses, fees and expenses of another fund in which the Fund invests (if applicable), and waivers/reimbursements (if applicable) of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group pursuant to Broadridge’s proprietary ETF methodology (the “Peer Group”). The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the Peer Group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Board also noted that the investment advisory fee rate and overall expenses (net of waivers and reimbursements) for the Fund were lower than the median of the investment advisory fee rates and overall expenses (net of waivers and reimbursements) of the funds in its Peer Group, excluding iShares funds.
In addition, to the extent that any of the comparison funds included in the Peer Group, excluding iShares funds, track the same index as the Fund, Broadridge also provided, and the Board reviewed, a comparison of the Fund’s performance for the one-year, three-year, five-year, ten-year, and since inception periods, as applicable, and for the quarter ended December 31, 2021, to that of such relevant comparison fund(s) for the same periods. The Board noted that the Fund seeks to track its specified underlying index and that, during the year, the Board received periodic reports on the Fund’s short- and longer-term performance in comparison with its underlying index. Such periodic comparative performance information, including additional detailed information as requested by the Board, was also considered. The Board noted that the Fund generally performed in line with its underlying index over the relevant periods.
Based on this review, the other factors considered at the meeting, and their general knowledge of ETF pricing, the Board concluded that the investment advisory fee rate and expense level and the historical performance of the Fund supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Nature, Extent and Quality of the Services Provided: Based on management’s representations, including information about recent enhancements and initiatives with respect to the iShares business, including with respect to capital markets support and analysis, technology, portfolio management, product design and quality, compliance and risk management, global public policy and other services, the Board expected that there would be no diminution in the scope of services required of or provided by BFA under the Advisory Agreement for the coming year as compared with the scope of services provided by BFA during prior years. In reviewing the scope of these services, the Board considered BFA’s investment philosophy and experience, noting that BFA and its affiliates have committed significant resources over time, including during the past year, to support the iShares funds and their shareholders and have made significant investments into the iShares business. The Board also considered BFA’s compliance program and its compliance record with respect to the Fund. In that regard, the Board noted that BFA reports to the Board about portfolio management and compliance matters on a periodic basis in connection with regularly scheduled meetings of the Board, and on other occasions as necessary and appropriate, and has provided information and made relevant officers and other employees of BFA (and its affiliates) available as needed to provide further assistance with these matters. The Board also reviewed the background and experience of the persons responsible for the day-to-day management of the Fund, as well as the resources available to them in managing the Fund. In addition to the above considerations, the Board reviewed and considered detailed presentations regarding BFA’s investment performance, investment and risk management processes and strategies, provided at the May 3, 2022 meeting and throughout the year, and matters related to BFA’s portfolio compliance program.
Based on review of this information, and the performance information discussed above, the Board concluded that the nature, extent and quality of services provided to the Fund under the Advisory Agreement supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Costs of Services Provided to the Fund and Profits Realized by BFA and its Affiliates: The Board reviewed information about the estimated profitability to BlackRock in managing the Fund, based on the fees payable to BFA and its affiliates (including fees under the Advisory Agreement), and other sources of revenue and expense to BFA and its affiliates from the Fund’s operations for the last calendar year. The Board reviewed BlackRock’s methodology for calculating estimated profitability of the iShares funds, noting that the 15(c) Committee and the Board had focused on the methodology and profitability presentation. The Board recognized that profitability may be affected by numerous factors, including, among other things, fee waivers by BFA, the types of funds managed, expense allocations and business mix. The Board thus recognized that calculating and comparing profitability at individual fund levels is challenging. The Board discussed with management the sources of direct and ancillary revenue, including the revenues to BTC, a BlackRock affiliate, from securities lending by the Fund. The Board also discussed BFA’s estimated profit margin as reflected in the Fund’s profitability analysis and reviewed information regarding potential economies of scale (as discussed below).
Based on this review, the Board concluded that the information considered with respect to the profits realized by BFA and its affiliates under the Advisory Agreement and from other relationships between the Fund and BFA and/or its affiliates, if any, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Economies of Scale: The Board reviewed information and considered the extent to which economies of scale might be realized as the assets of the Fund increase, noting that the issue of potential economies of scale had been focused on by the 15(c) Committee and the Board during their meetings and addressed by management. The 15(c) Committee and the Board received information regarding BlackRock’s historical estimated profitability, including BFA’s and its affiliates’ estimated costs in providing services.
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Board Review and Approval of Investment Advisory Contract (continued)
The estimated cost information distinguished, among other things, between fixed and variable costs, and showed how the level and nature of fixed and variable costs may impact the existence or size of scale benefits, with the Board recognizing that potential economies of scale are difficult to measure. The 15(c) Committee and the Board reviewed information provided by BFA regarding the sharing of scale benefits with the iShares funds through various means, including, as applicable, through relatively low fee rates established at inception, breakpoints, waivers, or other fee reductions, as well as through additional investment in the iShares business and the provision of improved or additional infrastructure and services to the iShares funds and their shareholders. The Board noted that the Advisory Agreement for the Fund already provided for breakpoints in the Fund’s investment advisory fee rate as the assets of the Fund, on an aggregated basis with the assets of certain other iShares funds, increase. The Board noted that it would continue to assess the appropriateness of adding new or revised breakpoints in the future.
The Board concluded that this review of potential economies of scale and the sharing of related benefits, as well as the other factors considered at the meeting, supported the Board’s approval of the continuance of the Advisory Agreement for the coming year.
Fees and Services Provided for Other Comparable Funds/Accounts Managed by BFA and its Affiliates: The Board received and considered information regarding the investment advisory/management fee rates for other funds/accounts in the U.S. for which BFA (or its affiliates) provides investment advisory/management services, including open-end funds registered under the 1940 Act (including sub-advised funds), collective trust funds, and institutional separate accounts (collectively, the “Other Accounts”). The Board acknowledged BFA’s representation that the iShares funds are fundamentally different investment vehicles from the Other Accounts.
The Board received detailed information regarding how the Other Accounts generally differ from the Fund, including in terms of the types of services and generally more extensive services provided to the Fund, as well as other significant differences. In that regard, the Board considered that the pricing of services to institutional clients is typically based on a number of factors beyond the nature and extent of the specific services to be provided and often depends on the overall relationship between the client and its affiliates and the adviser and its affiliates. In addition, the Board considered the relative complexity and inherent risks and challenges of managing and providing other services to the Fund, as a publicly traded investment vehicle, as compared to the Other Accounts, particularly those that are institutional clients, in light of differing regulatory requirements and client-imposed mandates. The Board noted that BFA and its affiliates manage Other Accounts with substantially the same investment objective and strategy as the Fund and that track the same index as the Fund. The Board also acknowledged management’s assertion that, for certain iShares funds, and for client segmentation purposes, BlackRock has launched an iShares fund that may provide a similar investment exposure at a lower investment advisory fee rate.
The Board considered the “all-inclusive” nature of the Fund’s advisory fee structure, and the Fund’s expenses borne by BFA under this arrangement and noted that the investment advisory fee rate under the Advisory Agreement for the Fund was generally higher than the investment advisory/management fee rates for certain of the Other Accounts (particularly institutional clients) and concluded that the differences appeared to be consistent with the factors discussed.
Other Benefits to BFA and/or its Affiliates: The Board reviewed other benefits or ancillary revenue received by BFA and/or its affiliates in connection with the services provided to the Fund by BFA, both direct and indirect, including, but not limited to, payment of revenue to BTC, the Fund’s securities lending agent, for loaning portfolio securities (which was included in the profit margins reviewed by the Board pursuant to BFA’s estimated profitability methodology), payment of advisory fees or other fees to BFA (or its affiliates) in connection with any investments by the Fund in other funds for which BFA (or its affiliates) provides investment advisory services or other services, and BlackRock’s profile in the investment community. The Board also noted the revenue received by BFA and/or its affiliates pursuant to an agreement that permits a service provider to use certain portions of BlackRock’s technology platform to service accounts managed by BFA and/or its affiliates, including the iShares funds. The Board noted that BFA generally does not use soft dollars or consider the value of research or other services that may be provided to BFA (including its affiliates) in selecting brokers for portfolio transactions for the Fund. The Board concluded that any such ancillary benefits would not be disadvantageous to the Fund and thus would not alter the Board’s conclusion with respect to the appropriateness of approving the continuance of the Advisory Agreement for the coming year.
Conclusion: Based on a review of the factors described above, as well as such other factors as deemed appropriate by the Board, the Board, including all of the Independent Board Members, determined that the Fund’s investment advisory fee rate under the Advisory Agreement does not constitute a fee that is so disproportionately large as to bear no reasonable relationship to the services rendered and that could not have been the product of arm’s-length bargaining, and concluded to approve the continuance of the Advisory Agreement for the coming year.
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Supplemental Information (unaudited)
Section 19(a) Notices
The amounts and sources of distributions reported are estimates and are being provided pursuant to regulatory requirements and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each Fund’s investment experience during the year and may be subject to changes based on tax regulations. Shareholders will receive a Form 1099-DIV each calendar year that will inform them how to report these distributions for federal income tax purposes.
September 30, 2022
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Total Cumulative Distributions for the Fiscal Year-to-Date |
% Breakdown of the Total Cumulative Distributions for the Fiscal Year-to-Date |
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| iShares ETF |
Net Investment Income |
Net Realized Capital Gains |
Return of Capital |
Total Per Share |
Net Investment Income |
Net Realized Capital Gains |
Return of Capital |
Total Per Share |
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Russell 3000(a) |
$ | 1.610242 | $ | — | $ | — | $ | 1.610242 | 100 | % | — | % | — | % | 100 | % | ||||||||||||||||||||
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Russell Mid-Cap Value(a) |
0.996758 | — | — | 0.996758 | 100 | — | — | 100 | ||||||||||||||||||||||||||||
| (a) |
The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in the Fund is returned to the shareholder. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. When distributions exceed total return performance, the difference will incrementally reduce the Fund’s net asset value per share. |
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Electronic Delivery
Shareholders can sign up for e-mail notifications announcing that the shareholder report or prospectus has been posted on the iShares website at iShares.com. Once you have enrolled, you will no longer receive prospectuses and shareholder reports in the mail.
To enroll in electronic delivery:
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Go to icsdelivery.com. |
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If your brokerage firm is not listed, electronic delivery may not be available. Please contact your broker-dealer or financial advisor. |
Householding
Householding is an option available to certain fund investors. Householding is a method of delivery, based on the preference of the individual investor, in which a single copy of certain shareholder documents and Rule 30e-3 notices can be delivered to investors who share the same address, even if their accounts are registered under different names. Please contact your broker-dealer if you are interested in enrolling in householding and receiving a single copy of prospectuses and other shareholder documents, or if you are currently enrolled in householding and wish to change your householding status.
Availability of Quarterly Schedule of Investments
The Funds file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to their reports on Form N-PORT. The Funds’ Forms N-PORT are available on the SEC’s website at sec.gov. Additionally, each Fund makes its portfolio holdings for the first and third quarters of each fiscal year available at iShares.com/fundreports.
Availability of Proxy Voting Policies and Proxy Voting Records
A description of the policies and procedures that the iShares Funds use to determine how to vote proxies relating to portfolio securities and information about how the iShares Funds voted proxies relating to portfolio securities during the most recent twelve-month period ending June 30 is available without charge, upon request (1) by calling toll-free 1-800-474-2737; (2) on the iShares website at iShares.com; and (3) on the SEC website at sec.gov.
A description of the Trust’s policies and procedures with respect to the disclosure of the Fund’s portfolio securities is available in the Fund Prospectus. The Fund discloses its portfolio holdings daily and provides information regarding its top holdings in Fund fact sheets at iShares.com.
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Glossary of Terms Used in this Report
| Portfolio Abbreviation | ||
| CVR | Contingent Value Rights | |
| NVS | Non-Voting Shares | |
| REIT | Real Estate Investment Trust | |
| S&P | Standard & Poor’s | |
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G L O S S A R Y O F T E R M S U S E D I N T H I S R E P O R T |
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Want to know more?
iShares.com | 1-800-474-2737
This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.
Investing involves risk, including possible loss of principal.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by FTSE Russell, nor does this company make any representation regarding the advisability of investing in the iShares Funds. BlackRock is not affiliated with the company listed above.
©2022 BlackRock, Inc. All rights reserved. iSHARES and BLACKROCK are registered trademarks of BlackRock, Inc. or its subsidiaries. All other marks are the property of their respective owners.
iS-SAR-306-0922
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