LOGO

  SEPTEMBER 30, 2023

 

  

2023 Semi-Annual Report

(Unaudited)

 

iShares Trust

· iShares ESG Screened S&P 500 ETF | XVV | Cboe BZX

· iShares ESG Screened S&P Mid-Cap ETF | XJH | Cboe BZX

· iShares ESG Screened S&P Small-Cap ETF | XJR | Cboe BZX


The Markets in Review

Dear Shareholder,

The combination of continued economic growth and moderating inflation provided a supportive backdrop for investors during the 12-month reporting period ended September 30, 2023. Significantly tighter monetary policy helped to rein in inflation while the economy proved more resilient than many investors anticipated. A moderating labor market also helped ease inflationary pressure, although wages continued to grow and unemployment rates touched the lowest levels in decades. This robust labor market powered further growth in consumer spending, backstopping the economy. On October 7, 2023, Hamas launched a horrific attack on Israel. The ensuing war will have a significant humanitarian impact and could lead to heightened economic and market volatility. We see geopolitics as a structural market risk going forward. See our geopolitical risk dashboard at blackrock.com for more details.

Equity returns were substantial, as the durability of consumer sentiment and spending mitigated investors’ concerns about the economy’s trajectory. The U.S. economy resumed growth in the third quarter of 2022 and continued to expand thereafter. All major classes of equities rose, although large-capitalization U.S. stocks posted significantly higher returns than small-capitalization U.S. stocks due primarily to the performance of large technology companies. International developed market equities also advanced strongly, and emerging market equities posted solid gains.

The 10-year U.S. Treasury yield rose during the reporting period, driving its price down, as investors reacted to elevated inflation and attempted to anticipate future interest rate changes. The corporate bond market benefited from improving economic sentiment, although high-yield corporate bond prices fared significantly better than investment-grade bonds as demand from yield-seeking investors remained strong.

The U.S. Federal Reserve (the “Fed”), attempting to manage persistent inflation, raised interest rates six times during the 12-month period. Furthermore, the Fed wound down its bond-buying programs and incrementally reduced its balance sheet by not replacing securities that reach maturity. However, the Fed declined to raise interest rates at two of its meetings late in the period.

Supply constraints appear to have become an embedded feature of the new macroeconomic environment, making it difficult for developed economies to increase production without sparking higher inflation. Geopolitical fragmentation and an aging population risk further exacerbating these constraints, keeping the labor market tight and wage growth high. Although the Fed has decelerated the pace of interest rate hikes and recently opted for two pauses, we believe that the new economic regime means that the Fed will need to maintain high rates for an extended period to keep inflation under control. Furthermore, ongoing structural changes may mean that the Fed will be hesitant to cut interest rates in the event of faltering economic activity lest inflation accelerate again. We believe investors should expect a period of higher volatility as markets adjust to the new economic reality and policymakers attempt to adapt.

While we favor an overweight position in developed market equities in the long term, we prefer an underweight stance in the near term. Expectations for corporate earnings remain elevated, which seems inconsistent with macroeconomic constraints. Nevertheless, we are overweight on Japanese stocks in the near term as shareholder-friendly policies generate increased investor interest. We also believe that stocks with an AI tilt should benefit from an investment cycle that is set to support revenues and margins. In credit, there are selective opportunities in the near term despite tightening credit and financial conditions. For fixed income investing with a six- to twelve-month horizon, we see the most attractive investments in short-term U.S. Treasuries, U.S. inflation-linked bonds, euro area government bonds and gilts, U.S. mortgage-backed securities, and hard-currency emerging market bonds.

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,

 

LOGO

Rob Kapito

President, BlackRock, Inc.

LOGO

Rob Kapito

President, BlackRock, Inc.

 

 Total Returns as of September 30, 2023
     
     6-Month      12-Month  
   

U.S. large cap equities

(S&P 500® Index)

  5.18%    21.62%
   

U.S. small cap equities (Russell 2000® Index)

  (0.19)       8.93 
   

International equities (MSCI Europe, Australasia, Far East Index)

  (1.28)       25.65   
   

Emerging market equities (MSCI Emerging Markets Index)

  (2.05)       11.70   
   

3-month Treasury bills (ICE BofA 3-Month U.S. Treasury Bill Index)

  2.50      4.47 
   

U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index)

  (6.98)       (2.90) 
   

U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index)

  (4.05)       0.64 
   

Tax-exempt municipal bonds (Bloomberg Municipal Bond Index)

  (4.05)       2.66 
   

U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index)

  2.22      10.28   

Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.

 

2  

T H I S   P A G E   I S   N O T   P A R T   O F   Y O U R   F U N D   R E P O R T


Table of Contents

 

    

Page

 

 

 

 

The Markets in Review

     2  

Semi-Annual Report:

  

Fund Summary

     4  

About Fund Performance

     7  

Disclosure of Expenses

     7  

Schedules of Investments

     8  

Financial Statements:

  

Statements of Assets and Liabilities

     32  

Statements of Operations

     33  

Statements of Changes in Net Assets

     34  

Financial Highlights

     36  

Notes to Financial Statements

     39  

Board Review and Approval of Investment Advisory Contract

     47  

Supplemental Information

     49  

General Information

     50  

Glossary of Terms Used in this Report

     51  

 

 

  3


Fund Summary as of September 30, 2023    iShares® ESG Screened S&P 500 ETF

 

Investment Objective

The iShares ESG Screened S&P 500 ETF (the “Fund”) seeks to track the investment results of an index composed of large-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P 500 Substainability Screened 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     

Since

Inception

    1 Year      Since
Inception
 

Fund NAV

    5.68      22.72      9.92     22.72      33.12

Fund Market

    5.68        22.61        9.91       22.61        33.10  

Index

    5.73        22.83        10.03       22.83        33.47  

The inception date of the Fund was 9/22/20. The first day of secondary market trading was 9/24/20.

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        
 

Beginning
Account Value
(04/01/23)
 
 
 
   

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
            

Beginning
Account Value
(04/01/23)
 
 
 
    

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
   

Annualized
Expense
Ratio
 
 
 
 $         1,000.00     $         1,056.80      $           0.41              $         1,000.00      $         1,024.60      $           0.40       0.08

 

(a)   

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

Portfolio Information

 

SECTOR ALLOCATION

 

   

Sector

   
Percent of
Total Investments
 
(a) 

Information Technology

    30.5

Health Care

    13.7  

Financials

    13.5  

Consumer Discretionary

    11.7  

Communication Services

    9.9  

Industrials

    7.0  

Consumer Staples

    5.8  

Real Estate

    2.6  

Materials

    2.6  

Energy

    1.4  

Utilities

    1.3  

TEN LARGEST HOLDINGS

 

   

Security

   
Percent of
Total Investments
 
(a) 

Apple Inc.

    7.8

Microsoft Corp.

    7.3  

Amazon.com, Inc.

    3.6  

NVIDIA Corp.

    3.3  

Alphabet, Inc., Class A

    2.4  

Tesla, Inc.

    2.1  

Meta Platforms, Inc., Class A

    2.1  

Alphabet, Inc., Class C, NVS

    2.1  

Berkshire Hathaway, Inc., Class B

    2.0  

UnitedHealth Group, Inc.

    1.4  

 

(a) 

Excludes money market funds.

 

 

4  

2 0 2 3   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, 2023    iShares® ESG Screened S&P Mid-Cap ETF

 

Investment Objective

The iShares ESG Screened S&P Mid-Cap ETF (the “Fund”) seeks to track the investment results of an index composed of mid-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P MidCap 400 Sustainability Screened 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 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      Since
Inception
    1 Year      Since
Inception
 

Fund NAV

    0.11      15.50      11.69     15.50      39.69

Fund Market

    0.34        15.67        11.74       15.67        39.90  

Index

    0.16        15.63        11.85       15.63        40.26  

The inception date of the Fund was 9/22/20. The first day of secondary market trading was 9/24/20.

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        
 

Beginning
Account Value
(04/01/23)
 
 
 
   

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
            

Beginning
Account Value
(04/01/23)
 
 
 
    

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
   

Annualized
Expense
Ratio
 
 
 
 $         1,000.00     $         1,001.10      $           0.60              $         1,000.00      $         1,024.40      $           0.61       0.12

 

(a)  

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

Portfolio Information

 

SECTOR ALLOCATION

 

   

Sector

   
Percent of
Total Investments
 
(a) 

Industrials

    23.4

Financials

    15.5  

Consumer Discretionary

    15.3  

Information Technology

    11.2  

Health Care

    9.4  

Real Estate

    7.7  

Materials

    7.6  

Consumer Staples

    3.9  

Energy

    2.4  

Communication Services

    2.0  

Utilities

    1.6  

TEN LARGEST HOLDINGS

 

   

Security

   
Percent of
Total Investments
 
(a) 

Hubbell, Inc.

    0.8

Jabil, Inc.

    0.8  

Builders FirstSource, Inc.

    0.8  

Reliance Steel & Aluminum Co.

    0.8  

Deckers Outdoor Corp.

    0.7  

Carlisle Cos., Inc.

    0.7  

Watsco, Inc.

    0.6  

Super Micro Computer, Inc.

    0.6  

Graco, Inc.

    0.6  

Owens Corning

    0.6  
(a) 

Excludes money market funds.

 

 

F U N D   S U M M A R Y

  5


Fund Summary as of September 30, 2023    iShares® ESG Screened S&P Small-Cap ETF

 

Investment Objective

The iShares ESG Screened S&PSmall-Cap ETF(the “Fund”) seeks to track the investment results if an index composed of small-capitalization U.S. equities while applying screens for company involvement in controversies and controversial business activities, as represented by the S&P SmallCap 600 Sustainability Screened 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     Since
Inception
            1 Year     Since
Inception
 

Fund NAV

    (1.85 )%      9.67     11.22        9.67     37.95

Fund Market

    (1.77     9.54       11.24          9.54       38.00  

Index

    (1.80     9.76       11.59                9.76       39.29  

The inception date of the Fund was 9/22/20. The first day of secondary market trading was 9/24/20.

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        
 

Beginning
Account Value
(04/01/23)
 
 
 
   

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
            

Beginning
Account Value
(04/01/23)
 
 
 
    

Ending
Account Value
(09/30/23)
 
 
 
    

Expenses
Paid During
the Period
 
 
(a) 
   

Annualized
Expense
Ratio
 
 
 
$         1,000.00     $         981.50      $         0.60              $         1,000.00      $         1,024.39      $           0.61       0.12

 

(a)   

Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 183/366 (to reflect the one-half year period shown). Other fees, such as brokerage commissions and other fees to financial intermediaries, may be paid which are not reflected in the tables and examples above. See “Disclosure of Expenses” for more information.

Portfolio Information

 

 

SECTOR ALLOCATION

 

   
Sector    
Percent of
Total Investments
 
(a) 

Industrials

    17.8

Financials

    17.2  

Information Technology

    14.7  

Consumer Discretionary

    13.8  

Health Care

    10.2  

Real Estate

    7.6  

Materials

    5.4  

Consumer Staples

    5.3  

Communication Services

    3.1  

Energy

    3.1  

Utilities

    1.8  

TEN LARGEST HOLDINGS

 

   
Security    
Percent of
Total Investments
 
(a) 

Onto Innovation, Inc.

    0.7

SPS Commerce, Inc.

    0.7  

Comfort Systems U.S.A., Inc.

    0.7  

Rambus, Inc.

    0.7  

Fabrinet

    0.7  

Applied Industrial Technologies, Inc.

    0.7  

elf Beauty, Inc.

    0.7  

Axcelis Technologies, Inc.

    0.6  

ATI, Inc.

    0.6  

Ensign Group, Inc. (The)

    0.6  

 

(a) 

Excludes money market funds.

 

 

6  

2 0 2 3   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


About Fund Performance

 

Past performance is not an indication of future results. Financial markets have experienced extreme volatility and trading in many instruments has been disrupted. These circumstances may continue for an extended period of time and may continue to affect adversely the value and liquidity of each Fund’s investments. As a result, current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end is available at iShares.com. Performance results assume reinvestment of all dividends and capital gain distributions and do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. The investment return and principal value of shares will vary with changes in market conditions. Shares may be worth more or less than their original cost when they are redeemed or sold in the market. Performance for certain funds may reflect a waiver of a portion of investment advisory fees. Without such a waiver, performance would have been lower.

Net asset value or “NAV” is the value of one share of a fund as calculated in accordance with the standard formula for valuing mutual fund shares. Beginning August 10, 2020, the price used to calculate market return (“Market Price”) is the closing price. Prior to August 10, 2020, Market Price was determined using the midpoint between the highest bid and the lowest ask on the primary stock exchange on which shares of a fund are listed for trading, as of the time that such fund’s NAV is calculated. Since shares of a fund may not trade in the secondary market until after the fund’s inception, for the period from inception to the first day of secondary market trading in shares of the fund, the NAV of the fund is used as a proxy for the Market Price to calculate market returns. Market and NAV returns assume that dividends and capital gain distributions have been reinvested at Market Price and NAV, respectively.

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

Disclosure of Expenses

Shareholders of each Fund may incur the following charges: (1) transactional expenses, including brokerage commissions on purchases and sales of fund shares and (2) ongoing expenses, including management fees and other fund expenses. The expense examples shown (which are based on a hypothetical investment of $1,000 invested at the beginning of the period 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.

 

 

A B O U T   F U N D   P E R F O R M A N C E  /  D I S C L O S U R E   O F   E X P E N S E S

  7


Schedule of Investments (unaudited)

September 30, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

   

Aerospace & Defense — 0.2%

   

Axon Enterprise, Inc.(a)

    340     $ 67,657  

Howmet Aerospace, Inc.

    1,886       87,227  

TransDigm Group, Inc.(a)

    264       222,586  
   

 

 

 
          377,470  
Air Freight & Logistics — 0.6%            

CH Robinson Worldwide, Inc.

    557       47,975  

Expeditors International of Washington, Inc.

    705       80,814  

FedEx Corp.

    1,110       294,061  

United Parcel Service, Inc., Class B

    3,475       541,648  
   

 

 

 
      964,498  
Automobile Components — 0.1%            

Aptiv PLC(a)

    1,367       134,773  

BorgWarner, Inc.

    1,130       45,618  
   

 

 

 
      180,391  
Automobiles — 2.4%            

Ford Motor Co.

    18,938       235,210  

General Motors Co.

    6,593       217,371  

Tesla, Inc.(a)

    13,265       3,319,168  
   

 

 

 
      3,771,749  
Banks — 2.9%            

Bank of America Corp.

    33,211       909,317  

Citigroup, Inc.

    9,251       380,494  

Citizens Financial Group, Inc.

    2,276       60,997  

Comerica, Inc.

    639       26,550  

Fifth Third Bancorp

    3,300       83,589  

Huntington Bancshares, Inc.

    6,952       72,301  

JPMorgan Chase & Co.

    13,961       2,024,624  

KeyCorp

    4,446       47,839  

M&T Bank Corp.

    792       100,148  

PNC Financial Services Group, Inc. (The)

    1,913       234,859  

Regions Financial Corp.

    4,484       77,125  

Truist Financial Corp.

    6,419       183,648  

U.S. Bancorp

    7,470       246,958  

Zions Bancorp N.A.

    696       24,283  
   

 

 

 
      4,472,732  
Beverages — 1.8%            

Brown-Forman Corp., Class B, NVS

    881       50,825  

Coca-Cola Co. (The)

    18,696       1,046,602  

Constellation Brands, Inc., Class A

    777       195,283  

Keurig Dr Pepper, Inc.

    4,850       153,114  

Molson Coors Beverage Co., Class B

    903       57,422  

Monster Beverage Corp.(a)

    3,565       188,767  

PepsiCo, Inc.

    6,613       1,120,507  
   

 

 

 
      2,812,520  
Biotechnology — 2.3%            

AbbVie, Inc.

    8,479       1,263,880  

Amgen, Inc.

    2,570       690,713  

Biogen, Inc.(a)

    695       178,622  

Gilead Sciences, Inc.

    5,986       448,591  

Incyte Corp.(a)

    892       51,531  

Moderna, Inc.(a)

    1,581       163,302  

Regeneron Pharmaceuticals, Inc.(a)

    513       422,178  

Vertex Pharmaceuticals, Inc.(a)

    1,242       431,893  
   

 

 

 
      3,650,710  
Broadline Retail — 3.7%            

Amazon.com, Inc.(a)

    43,618       5,544,720  
Security   Shares     Value  

Broadline Retail (continued)

   

eBay, Inc.

    2,563     $ 113,003  

Etsy, Inc.(a)

    604       39,006  
   

 

 

 
      5,696,729  
Building Products — 0.5%            

A O Smith Corp.

    605       40,008  

Allegion PLC

    421       43,868  

Carrier Global Corp.

    4,014       221,573  

Johnson Controls International PLC

    3,256       173,252  

Masco Corp.

    1,071       57,245  

Trane Technologies PLC

    1,101       223,404  
   

 

 

 
      759,350  
Capital Markets — 2.9%            

Ameriprise Financial, Inc.

    492       162,203  

Bank of New York Mellon Corp. (The)

    3,723       158,786  

BlackRock, Inc.(b)

    675       436,381  

Cboe Global Markets, Inc.

    507       79,198  

Charles Schwab Corp. (The)

    7,153       392,700  

CME Group, Inc., Class A

    1,728       345,980  

FactSet Research Systems, Inc.

    185       80,893  

Franklin Resources, Inc.

    1,368       33,625  

Goldman Sachs Group, Inc. (The)

    1,586       513,182  

Intercontinental Exchange, Inc.

    2,744       301,895  

Invesco Ltd.

    2,167       31,465  

MarketAxess Holdings, Inc.

    182       38,882  

Moody’s Corp.

    760       240,289  

Morgan Stanley

    6,129       500,555  

MSCI, Inc., Class A

    381       195,484  

Nasdaq, Inc.

    1,622       78,813  

Northern Trust Corp.

    1,000       69,480  

Raymond James Financial, Inc.

    896       89,985  

S&P Global, Inc.

    1,563       571,136  

State Street Corp.

    1,538       102,985  

T Rowe Price Group, Inc.

    1,076       112,840  
   

 

 

 
      4,536,757  
Chemicals — 1.8%            

Air Products & Chemicals, Inc.

    1,067       302,388  

Albemarle Corp.

    566       96,243  

Celanese Corp., Class A

    477       59,873  

CF Industries Holdings, Inc.

    927       79,481  

Corteva, Inc.

    3,420       174,967  

Dow, Inc.

    3,383       174,427  

Eastman Chemical Co.

    573       43,961  

Ecolab, Inc.

    1,221       206,837  

FMC Corp.

    605       40,517  

International Flavors & Fragrances, Inc.

    1,230       83,849  

Linde PLC

    2,344       872,788  

LyondellBasell Industries NV, Class A

    1,226       116,102  

Mosaic Co. (The)

    1,596       56,818  

PPG Industries, Inc.

    1,134       147,193  

Sherwin-Williams Co. (The)

    1,133       288,972  
   

 

 

 
          2,744,416  
Commercial Services & Supplies — 0.5%            

Cintas Corp.

    415       199,619  

Copart, Inc.(a)

    4,189       180,504  

Republic Services, Inc.

    988       140,800  

Rollins, Inc.

    1,123       41,921  

Waste Management, Inc.

    1,772       270,124  
   

 

 

 
      832,968  
Communications Equipment — 1.0%            

Arista Networks, Inc.(a)

    1,202       221,084  

 

 

8  

2 0 2 3   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, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Communications Equipment (continued)

   

Cisco Systems, Inc.

    19,576     $ 1,052,406  

F5, Inc.(a)

    289       46,569  

Juniper Networks, Inc.

    1,555       43,213  

Motorola Solutions, Inc.

    802       218,337  
   

 

 

 
      1,581,609  
Construction & Engineering — 0.1%            

Quanta Services, Inc.

    695       130,014  
   

 

 

 
Construction Materials — 0.2%            

Martin Marietta Materials, Inc.

    298       122,323  

Vulcan Materials Co.

    642       129,697  
   

 

 

 
      252,020  
Consumer Finance — 0.5%            

American Express Co.

    2,795       416,986  

Capital One Financial Corp.

    1,832       177,796  

Discover Financial Services

    1,198       103,783  

Synchrony Financial

    2,018       61,690  
   

 

 

 
      760,255  
Consumer Staples Distribution & Retail — 1.3%            

Costco Wholesale Corp.

    2,129       1,202,800  

Dollar General Corp.

    1,056       111,725  

Dollar Tree, Inc.(a)

    1,012       107,727  

Kroger Co. (The)

    3,189       142,708  

Sysco Corp.

    2,432       160,633  

Target Corp.

    2,217       245,134  

Walgreens Boots Alliance, Inc.

    3,458       76,906  
   

 

 

 
      2,047,633  
Containers & Packaging — 0.3%            

Amcor PLC

    7,088       64,926  

Avery Dennison Corp.

    385       70,328  

Ball Corp.

    1,515       75,417  

International Paper Co.

    1,653       58,632  

Packaging Corp. of America

    435       66,794  

Sealed Air Corp.

    681       22,378  

Westrock Co.

    1,229       43,998  
   

 

 

 
      402,473  
Distributors — 0.1%            

Genuine Parts Co.

    676       97,601  

LKQ Corp.

    1,297       64,214  

Pool Corp.

    188       66,947  
   

 

 

 
      228,762  
Diversified Telecommunication Services — 0.8%  

AT&T Inc.

    34,343       515,832  

Verizon Communications, Inc.

    20,196       654,552  
   

 

 

 
          1,170,384  
Electric Utilities — 0.8%            

Constellation Energy Corp.

    1,550       169,074  

Edison International

    1,840       116,454  

Entergy Corp.

    1,012       93,610  

Eversource Energy

    1,679       97,634  

Exelon Corp.

    4,766       180,107  

NextEra Energy, Inc.

    9,722       556,973  

NRG Energy, Inc.

    1,114       42,911  
   

 

 

 
      1,256,763  
Electrical Equipment — 0.7%            

AMETEK, Inc.

    1,102       162,832  

Eaton Corp. PLC

    1,917       408,858  

Emerson Electric Co.

    2,748       265,374  
Security   Shares     Value  

Electrical Equipment (continued)

   

Generac Holdings, Inc.(a)

    302     $ 32,906  

Rockwell Automation, Inc.

    554       158,372  
   

 

 

 
      1,028,342  
Electronic Equipment, Instruments & Components — 0.6%  

Amphenol Corp., Class A

    2,873       241,303  

CDW Corp.

    644       129,934  

Corning, Inc.

    3,668       111,764  

Keysight Technologies, Inc.(a)

    858       113,522  

TE Connectivity Ltd.

    1,508       186,283  

Trimble, Inc.(a)

    1,206       64,955  

Zebra Technologies Corp., Class A(a)

    241       57,004  
   

 

 

 
      904,765  
Energy Equipment & Services — 0.5%            

Baker Hughes Co., Class A

    4,851       171,337  

Halliburton Co.

    4,336       175,608  

Schlumberger NV

    6,827       398,014  
   

 

 

 
      744,959  
Entertainment — 1.5%            

Activision Blizzard, Inc.

    3,445       322,555  

Electronic Arts, Inc.

    1,180       142,072  

Live Nation Entertainment, Inc.(a)

    687       57,048  

Netflix, Inc.(a)

    2,129       803,910  

Take-Two Interactive Software, Inc.(a)

    753       105,714  

Walt Disney Co. (The)(a)

    8,790       712,430  

Warner Bros Discovery, Inc., Class A(a)

    10,730       116,528  
   

 

 

 
      2,260,257  
Financial Services — 4.8%            

Berkshire Hathaway, Inc., Class B(a)

    8,761       3,068,978  

Fidelity National Information Services, Inc.

    2,862       158,183  

Fiserv, Inc.(a)

    2,924       330,295  

FleetCor Technologies, Inc.(a)(c)

    349       89,114  

Global Payments, Inc.

    1,252       144,468  

Jack Henry & Associates, Inc.

    354       53,504  

Mastercard, Inc., Class A

    3,997       1,582,452  

PayPal Holdings, Inc.(a)

    5,273       308,260  

Visa, Inc., Class A

    7,719       1,775,447  
   

 

 

 
      7,510,701  
Food Products — 1.1%            

Archer-Daniels-Midland Co.

    2,586       195,036  

Bunge Ltd.

    718       77,723  

Campbell Soup Co.

    940       38,615  

Conagra Brands, Inc.

    2,287       62,710  

General Mills, Inc.

    2,813       180,004  

Hershey Co. (The)

    718       143,657  

Hormel Foods Corp.

    1,410       53,622  

J M Smucker Co. (The)

    494       60,718  

Kellanova

    1,275       75,875  

Kraft Heinz Co. (The)

    3,819       128,471  

Lamb Weston Holdings, Inc.

    697       64,445  

McCormick & Co., Inc., NVS

    1,212       91,676  

Mondelez International, Inc., Class A

    6,535       453,529  

Tyson Foods, Inc., Class A

    1,374       69,373  
   

 

 

 
          1,695,454  
Gas Utilities — 0.0%            

Atmos Energy Corp.

    707       74,893  
   

 

 

 
Ground Transportation — 0.9%            

CSX Corp.

    9,629       296,092  

JB Hunt Transport Services, Inc.

    390       73,523  

Norfolk Southern Corp.

    1,091       214,850  

 

 

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, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Ground Transportation (continued)

   

Old Dominion Freight Line, Inc.

    428     $ 175,112  

Union Pacific Corp.

    2,928       596,229  
   

 

 

 
          1,355,806  
Health Care Equipment & Supplies — 2.9%            

Abbott Laboratories

    8,337       807,438  

Align Technology, Inc.(a)

    336       102,588  

Baxter International, Inc.

    2,447       92,350  

Becton Dickinson & Co.

    1,395       360,649  

Boston Scientific Corp.(a)

    7,031       371,237  

Cooper Cos., Inc. (The)

    238       75,686  

DENTSPLY SIRONA, Inc.

    1,037       35,424  

Dexcom, Inc.(a)

    1,857       173,258  

Edwards Lifesciences Corp.(a)

    2,928       202,852  

GE HealthCare Technologies, Inc.

    1,877       127,711  

Hologic, Inc.(a)

    1,188       82,447  

IDEXX Laboratories, Inc.(a)

    399       174,471  

Insulet Corp.(a)

    334       53,270  

Intuitive Surgical, Inc.(a)

    1,690       493,970  

Medtronic PLC

    6,393       500,955  

ResMed, Inc.

    703       103,953  

STERIS PLC

    476       104,444  

Stryker Corp.

    1,624       443,790  

Teleflex, Inc.

    224       43,996  

Zimmer Biomet Holdings, Inc.

    1,010       113,342  
   

 

 

 
      4,463,831  
Health Care Providers & Services — 3.3%            

Cardinal Health, Inc.

    1,221       106,007  

Cencora, Inc.

    800       143,976  

Centene Corp.(a)

    2,593       178,606  

Cigna Group (The)

    1,423       407,078  

CVS Health Corp.

    6,170       430,789  

DaVita, Inc.(a)

    255       24,105  

Elevance Health, Inc.

    1,131       492,460  

HCA Healthcare, Inc.

    966       237,617  

Henry Schein, Inc.(a)

    624       46,332  

Humana, Inc.

    595       289,479  

Laboratory Corp. of America Holdings

    426       85,647  

McKesson Corp.

    650       282,653  

Molina Healthcare, Inc.(a)

    282       92,465  

Quest Diagnostics, Inc.

    538       65,561  

UnitedHealth Group, Inc.

    4,450       2,243,646  

Universal Health Services, Inc., Class B

    295       37,090  
   

 

 

 
      5,163,511  
Health Care REITs — 0.2%            

Healthpeak Properties, Inc.

    2,668       48,984  

Ventas, Inc.

    1,914       80,637  

Welltower, Inc.

    2,485       203,571  
   

 

 

 
      333,192  
Hotel & Resort REITs — 0.0%            

Host Hotels & Resorts, Inc.

    3,449       55,425  
   

 

 

 
Hotels, Restaurants & Leisure — 2.2%            

Booking Holdings, Inc.(a)

    170       524,272  

Caesars Entertainment, Inc.(a)

    1,036       48,019  

Carnival Corp.(a)

    4,863       66,720  

Chipotle Mexican Grill, Inc.(a)(c)

    133       243,633  

Darden Restaurants, Inc.

    586       83,927  

Domino’s Pizza, Inc.

    167       63,258  

Expedia Group, Inc.(a)

    664       68,438  

Hilton Worldwide Holdings, Inc.

    1,253       188,176  

Las Vegas Sands Corp.

    1,573       72,106  
Security   Shares     Value  

Hotels, Restaurants & Leisure (continued)

   

Marriott International, Inc., Class A

    1,204     $ 236,658  

McDonald’s Corp.

    3,501       922,303  

MGM Resorts International

    1,356       49,847  

Norwegian Cruise Line Holdings Ltd.(a)

    2,068       34,081  

Royal Caribbean Cruises Ltd.(a)

    1,135       104,579  

Starbucks Corp.

    5,502       502,168  

Wynn Resorts Ltd.

    466       43,063  

Yum! Brands, Inc.

    1,344       167,919  
   

 

 

 
      3,419,167  
Household Durables — 0.4%            

DR Horton, Inc.

    1,458       156,691  

Garmin Ltd.

    734       77,217  

Lennar Corp., Class A

    1,210       135,798  

Mohawk Industries, Inc.(a)

    257       22,053  

NVR, Inc.(a)

    16       95,413  

PulteGroup, Inc.

    1,059       78,419  

Whirlpool Corp.

    265       35,431  
   

 

 

 
      601,022  
Household Products — 1.5%            

Church & Dwight Co., Inc.

    1,187       108,765  

Clorox Co. (The)

    592       77,587  

Colgate-Palmolive Co.

    3,982       283,160  

Kimberly-Clark Corp.

    1,627       196,623  

Procter & Gamble Co. (The)

    11,324       1,651,719  
   

 

 

 
      2,317,854  
Industrial Conglomerates — 0.4%            

General Electric Co.

    5,228       577,955  
   

 

 

 
Industrial REITs — 0.3%            

Prologis, Inc.

    4,438       497,988  
   

 

 

 
Insurance — 2.4%            

Aflac, Inc.

    2,590       198,783  

Allstate Corp. (The)

    1,252       139,485  

American International Group, Inc.

    3,433       208,040  

Aon PLC, Class A

    975       316,114  

Arch Capital Group Ltd.(a)

    1,786       142,362  

Arthur J. Gallagher & Co.

    1,038       236,591  

Assurant, Inc.

    255       36,613  

Brown & Brown, Inc.

    1,135       79,268  

Chubb Ltd.

    1,970       410,115  

Cincinnati Financial Corp.

    746       76,308  

Everest Group Ltd.

    209       77,679  

Globe Life, Inc.

    418       45,449  

Hartford Financial Services Group, Inc. (The)

    1,473       104,450  

Loews Corp.

    893       56,536  

Marsh & McLennan Cos., Inc.

    2,378       452,533  

MetLife, Inc.

    3,045       191,561  

Principal Financial Group, Inc.

    1,068       76,971  

Progressive Corp. (The)

    2,812       391,712  

Prudential Financial, Inc.

    1,744       165,488  

Travelers Cos., Inc. (The)

    1,099       179,478  

W R Berkley Corp.

    983       62,411  

Willis Towers Watson PLC

    504       105,316  
   

 

 

 
          3,753,263  
Interactive Media & Services — 6.5%            

Alphabet, Inc., Class A(a)

    28,502       3,729,772  

Alphabet, Inc., Class C, NVS(a)

    24,245       3,196,703  

Match Group, Inc.(a)

    1,340       52,495  

Meta Platforms, Inc., Class A(a)

    10,677       3,205,342  
   

 

 

 
      10,184,312  

 

 

10  

2 0 2 3   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, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

IT Services — 1.3%

   

Accenture PLC, Class A

    3,030     $ 930,543  

Akamai Technologies, Inc.(a)

    727       77,455  

Cognizant Technology Solutions Corp., Class A

    2,440       165,286  

DXC Technology Co.(a)

    992       20,663  

EPAM Systems, Inc.(a)

    278       71,082  

Gartner, Inc.(a)

    377       129,541  

International Business Machines Corp.

    4,376       613,953  

VeriSign, Inc.(a)

    433       87,695  
   

 

 

 
      2,096,218  
Leisure Products — 0.0%            

Hasbro, Inc.

    639       42,263  
   

 

 

 
Life Sciences Tools & Services — 1.7%            

Agilent Technologies, Inc.

    1,427       159,567  

Bio-Rad Laboratories, Inc., Class A(a)

    103       36,920  

Bio-Techne Corp.

    748       50,916  

Charles River Laboratories International, Inc.(a)

    237       46,447  

Danaher Corp.

    3,157       783,252  

Illumina, Inc.(a)

    759       104,196  

IQVIA Holdings, Inc.(a)

    878       172,747  

Mettler-Toledo International, Inc.(a)

    105       116,347  

Revvity, Inc.

    592       65,534  

Thermo Fisher Scientific, Inc.

    1,854       938,439  

Waters Corp.(a)

    283       77,602  

West Pharmaceutical Services, Inc.

    351       131,699  
   

 

 

 
      2,683,666  
Machinery — 2.0%            

Caterpillar, Inc.

    2,451       669,123  

Cummins, Inc.

    680       155,353  

Deere & Co.

    1,312       495,123  

Dover Corp.

    673       93,890  

Fortive Corp.

    1,697       125,850  

IDEX Corp.

    365       75,927  

Illinois Tool Works, Inc.

    1,319       303,779  

Ingersoll Rand, Inc.

    1,938       123,489  

Nordson Corp.

    257       57,355  

Otis Worldwide Corp.

    1,971       158,291  

PACCAR, Inc.

    2,522       214,420  

Parker-Hannifin Corp.

    616       239,944  

Pentair PLC

    799       51,735  

Snap-on, Inc.

    250       63,765  

Stanley Black & Decker, Inc.

    732       61,181  

Westinghouse Air Brake Technologies Corp.

    861       91,498  

Xylem, Inc.

    1,149       104,594  
   

 

 

 
          3,085,317  
Media — 0.9%            

Charter Communications, Inc., Class A(a)(c)

    489       215,072  

Comcast Corp., Class A

    19,771       876,646  

Fox Corp., Class A, NVS

    1,221       38,095  

Fox Corp., Class B

    665       19,205  

Interpublic Group of Cos., Inc. (The)

    1,837       52,649  

News Corp., Class A, NVS

    1,798       36,068  

News Corp., Class B

    600       12,522  

Omnicom Group, Inc.

    952       70,905  

Paramount Global, Class B, NVS

    2,309       29,786  
   

 

 

 
      1,350,948  
Metals & Mining — 0.4%            

Freeport-McMoRan, Inc.

    6,887       256,816  

Newmont Corp.

    3,827       141,408  
Security   Shares     Value  

Metals & Mining (continued)

   

Nucor Corp.

    1,193     $ 186,525  

Steel Dynamics, Inc.

    749       80,308  
   

 

 

 
      665,057  
Multi-Utilities — 0.4%            

CenterPoint Energy, Inc.

    3,063       82,242  

Consolidated Edison, Inc.

    1,657       141,723  

Public Service Enterprise Group, Inc.

    2,400       136,584  

Sempra

    3,014       205,042  
   

 

 

 
      565,591  
Office REITs — 0.1%            

Alexandria Real Estate Equities, Inc.

    753       75,376  

Boston Properties, Inc.

    686       40,803  
   

 

 

 
      116,179  
Oil, Gas & Consumable Fuels — 0.9%            

Kinder Morgan, Inc.

    9,360       155,189  

Marathon Petroleum Corp.

    1,920       290,573  

ONEOK, Inc.

    2,810       178,238  

Phillips 66

    2,139       257,001  

Targa Resources Corp.

    1,082       92,749  

Valero Energy Corp.

    1,691       239,631  

Williams Cos., Inc. (The)

    5,823       196,177  
   

 

 

 
          1,409,558  
Passenger Airlines — 0.2%            

Alaska Air Group, Inc.(a)

    612       22,693  

American Airlines Group, Inc.(a)(c)

    3,127       40,057  

Delta Air Lines, Inc.

    3,081       113,997  

Southwest Airlines Co.

    2,866       77,582  

United Airlines Holdings, Inc.(a)

    1,580       66,834  
   

 

 

 
      321,163  
Personal Care Products — 0.1%            

Estee Lauder Cos., Inc. (The), Class A

    1,116       161,318  
   

 

 

 
Pharmaceuticals — 3.4%            

Bristol-Myers Squibb Co.

    10,036       582,489  

Catalent, Inc.(a)

    853       38,837  

Eli Lilly & Co.

    3,831       2,057,745  

Merck & Co., Inc.

    12,190       1,254,960  

Organon & Co.

    1,207       20,954  

Pfizer, Inc.

    27,123       899,670  

Viatris, Inc.

    5,814       57,326  

Zoetis, Inc., Class A

    2,210       384,496  
   

 

 

 
      5,296,477  
Professional Services — 0.8%            

Automatic Data Processing, Inc.

    1,978       475,867  

Broadridge Financial Solutions, Inc.

    568       101,700  

Ceridian HCM Holding, Inc.(a)

    744       50,480  

Equifax, Inc.

    590       108,076  

Paychex, Inc.

    1,550       178,762  

Paycom Software, Inc.

    236       61,188  

Robert Half, Inc.

    516       37,813  

Verisk Analytics, Inc.(c)

    695       164,187  
   

 

 

 
      1,178,073  
Real Estate Management & Development — 0.2%            

CBRE Group, Inc., Class A(a)

    1,491       110,125  

CoStar Group, Inc.(a)

    1,970       151,474  
   

 

 

 
      261,599  
Residential REITs — 0.3%            

AvalonBay Communities, Inc.

    686       117,814  

Camden Property Trust

    520       49,181  

 

 

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, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Residential REITs (continued)

   

Equity Residential

    1,644     $ 96,519  

Essex Property Trust, Inc.

    310       65,748  

Invitation Homes, Inc.

    2,775       87,940  

Mid-America Apartment Communities, Inc.

    558       71,787  

UDR, Inc.

    1,435       51,186  
   

 

 

 
      540,175  
Retail REITs — 0.3%            

Federal Realty Investment Trust

    355       32,174  

Kimco Realty Corp.

    2,979       52,400  

Realty Income Corp.

    3,416       170,595  

Regency Centers Corp.

    797       47,374  

Simon Property Group, Inc.

    1,565       169,067  
   

 

 

 
      471,610  
Semiconductors & Semiconductor Equipment — 8.2%  

Advanced Micro Devices, Inc.(a)

    7,762       798,089  

Analog Devices, Inc.

    2,409       421,792  

Applied Materials, Inc.

    4,034       558,507  

Broadcom, Inc.

    1,983       1,647,040  

Enphase Energy, Inc.(a)(c)

    656       78,818  

First Solar, Inc.(a)

    510       82,411  

Intel Corp.

    20,119       715,230  

KLA Corp.

    658       301,798  

Lam Research Corp.

    640       401,133  

Microchip Technology, Inc.

    2,610       203,710  

Micron Technology, Inc.

    5,271       358,586  

Monolithic Power Systems, Inc.

    230       106,260  

NVIDIA Corp.

    11,866       5,161,591  

NXP Semiconductors NV

    1,236       247,101  

ON Semiconductor Corp.(a)

    2,068       192,221  

Qorvo, Inc.(a)

    464       44,298  

QUALCOMM, Inc.

    5,361       595,393  

Skyworks Solutions, Inc.

    769       75,816  

SolarEdge Technologies, Inc.(a)(c)

    264       34,191  

Teradyne, Inc.

    743       74,642  

Texas Instruments, Inc.

    4,362       693,602  
   

 

 

 
      12,792,229  
Software — 11.2%            

Adobe, Inc.(a)

    2,190       1,116,681  

ANSYS, Inc.(a)

    417       124,078  

Autodesk, Inc.(a)

    1,024       211,876  

Cadence Design Systems, Inc.(a)

    1,308       306,464  

Fair Isaac Corp.(a)

    119       103,355  

Fortinet, Inc.(a)(c)

    3,135       183,962  

Gen Digital, Inc.

    2,745       48,532  

Intuit, Inc.

    1,345       687,214  

Microsoft Corp.

    35,692       11,269,749  

Oracle Corp.

    7,563       801,073  

Palo Alto Networks, Inc.(a)

    1,469       344,392  

PTC, Inc.(a)

    573       81,183  

Roper Technologies, Inc.

    513       248,436  

Salesforce, Inc.(a)

    4,679       948,808  

ServiceNow, Inc.(a)

    980       547,781  

Synopsys, Inc.(a)

    731       335,507  

Tyler Technologies, Inc.(a)

    203       78,386  
   

 

 

 
              17,437,477  
Specialized REITs — 1.2%            

American Tower Corp.

    2,239       368,204  

Crown Castle, Inc.

    2,079       191,330  

Digital Realty Trust, Inc.

    1,450       175,479  

Equinix, Inc.

    448       325,365  

Extra Space Storage, Inc.

    1,014       123,282  
Security   Shares     Value  

Specialized REITs (continued)

   

Iron Mountain, Inc.

    1,406     $ 83,587  

Public Storage

    762       200,802  

SBA Communications Corp., Class A

    521       104,289  

VICI Properties, Inc.

    4,890       142,299  

Weyerhaeuser Co.

    3,528       108,168  
   

 

 

 
      1,822,805  
Specialty Retail — 2.3%            

AutoZone, Inc.(a)

    87       220,979  

Bath & Body Works, Inc.

    1,078       36,436  

Best Buy Co., Inc.

    927       64,399  

CarMax, Inc.(a)

    764       54,038  

Home Depot, Inc. (The)

    4,830       1,459,433  

Lowe’s Cos., Inc.

    2,815       585,070  

O’Reilly Automotive, Inc.(a)

    290       263,569  

Ross Stores, Inc.

    1,642       185,464  

TJX Cos., Inc. (The)

    5,521       490,706  

Tractor Supply Co.

    523       106,195  

Ulta Beauty, Inc.(a)

    237       94,670  
   

 

 

 
      3,560,959  
Technology Hardware, Storage & Peripherals — 8.0%  

Apple Inc.

    70,599       12,087,255  

Hewlett Packard Enterprise Co.

    6,200       107,694  

HP, Inc.

    4,164       107,015  

NetApp, Inc.

    1,012       76,790  

Seagate Technology Holdings PLC

    924       60,938  

Western Digital Corp.(a)

    1,539       70,225  
   

 

 

 
      12,509,917  
Textiles, Apparel & Luxury Goods — 0.4%            

NIKE, Inc., Class B

    5,885       562,724  

Ralph Lauren Corp., Class A

    195       22,638  

Tapestry, Inc.

    1,123       32,286  

VF Corp.

    1,617       28,572  
   

 

 

 
      646,220  
Trading Companies & Distributors — 0.2%            

Fastenal Co.

    2,754       150,479  

United Rentals, Inc.

    328       145,819  
   

 

 

 
      296,298  
Water Utilities — 0.1%            

American Water Works Co., Inc.

    932       115,410  
   

 

 

 
Wireless Telecommunication Services — 0.2%            

T-Mobile U.S., Inc.(a)

    2,486       348,164  
   

 

 

 

Total Long-Term Investments — 99.8%
(Cost: $175,525,893)

          155,347,591  
   

 

 

 

 

 

12  

2 0 2 3   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, 2023

  

iShares® ESG Screened S&P 500 ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

 

 

Short-Term Securities

   

Money Market Funds — 1.1%

   

BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(b)(d)(e)

    718,644     $ 718,932  

BlackRock Cash Funds: Treasury, SL Agency Shares, 5.31%(b)(d)

    955,935       955,935  
   

 

 

 

Total Short-Term Securities — 1.1%
(Cost: $1,674,812)

      1,674,867  
   

 

 

 

Total Investments — 100.9%
(Cost: $177,200,705)

      157,022,458  

Liabilities in Excess of Other Assets — (0.9)%

 

    (1,338,514
   

 

 

 

Net Assets — 100.0%

    $ 155,683,944  
   

 

 

 

 

(a)

Non-income producing security.

(b) 

Affiliate of the Fund.

(c)

All or a portion of this security is on loan.

(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, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

                   
Affiliated Issuer   Value at
03/31/23
    Purchases
at Cost
    Proceeds
from Sale
    Net
Realized
Gain (Loss)
    Change in
Unrealized
Appreciation
(Depreciation)
    Value at
09/30/23
    Shares
Held at
09/30/23
    Income    

Capital

Gain
Distributions
from Underlying
Funds

 

BlackRock Cash Funds: Institutional, SL Agency Shares

  $ 68,967     $ 649,829 (a)    $     $ 96     $ 40     $ 718,932       718,644     $ 648 (b)    $  

BlackRock Cash Funds: Treasury, SL Agency Shares

    167,581       788,354 (a)                        955,935       955,935       6,843        

BlackRock, Inc.

    420,876       173,143       (144,053     (9,233     (4,352     436,381       675       8,320        
       

 

 

   

 

 

   

 

 

     

 

 

   

 

 

 
        $ (9,137   $ (4,312   $  2,111,248       $   15,811     $  
       

 

 

   

 

 

   

 

 

     

 

 

   

 

 

 

 

  (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

                 

Micro E-Mini S&P 500 Index

     14          12/15/23        $ 303        $ (12,552
                 

 

 

 

 

 

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, 2023

  

iShares® ESG Screened S&P 500 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)

   $      $      $ 12,552      $      $      $      $   12,552  

 

  (a) 

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

 

For the period ended September 30, 2023, 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

   $      $      $ 29,614      $      $      $      $ 29,614  

Net Change in Unrealized Appreciation (Depreciation) on:

                    

Futures contracts

   $      $      $ (25,846    $      $      $      $   (25,846

Average Quarterly Balances of Outstanding Derivative Financial Instruments

 

Futures contracts

        

Average notional value of contracts — long

   $ 364,584  

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

   $ 155,347,591        $        $        $ 155,347,591  

Short-Term Securities

                 

Money Market Funds

     1,674,867                            1,674,867  
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 157,022,458        $        $        $ 157,022,458  
  

 

 

      

 

 

      

 

 

      

 

 

 

Derivative Financial Instruments(a)

                 

Liabilities

                 

Equity Contracts

   $ (12,552      $        $        $ (12,552
  

 

 

      

 

 

      

 

 

      

 

 

 

 

(a)

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

See notes to financial statements.

 

 

14  

2 0 2 3   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, 2023

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

   
Aerospace & Defense — 1.0%            

Curtiss-Wright Corp.

    2,151     $ 420,800  

Hexcel Corp.

    4,755       309,741  

Woodward, Inc.

    3,392       421,490  
   

 

 

 
      1,152,031  
Air Freight & Logistics — 0.3%            

GXO Logistics, Inc.(a)

    6,678       391,665  
   

 

 

 
Automobile Components — 1.9%            

Adient PLC(a)

    5,275       193,592  

Autoliv, Inc.

    4,266       411,584  

Fox Factory Holding Corp.(a)

    2,372       235,018  

Gentex Corp.

    13,106       426,469  

Goodyear Tire & Rubber Co. (The)(a)

    15,962       198,408  

Lear Corp.

    3,298       442,592  

Visteon Corp.(a)

    1,588       219,255  
   

 

 

 
          2,126,918  
Automobiles — 0.5%            

Harley-Davidson, Inc.

    7,266       240,214  

Thor Industries, Inc.

    3,001       285,485  
   

 

 

 
          525,699  
Banks — 5.8%            

Associated Banc-Corp.

    8,528       145,914  

Bank OZK

    5,931       219,862  

Cadence Bank

    8,307       176,274  

Columbia Banking System, Inc.

    11,752       238,566  

Commerce Bancshares, Inc.

    6,388       306,496  

Cullen/Frost Bankers, Inc.

    3,603       328,630  

East West Bancorp, Inc.

    7,944       418,728  

First Financial Bankshares, Inc.

    7,247       182,045  

First Horizon Corp.

    31,381       345,819  

FNB Corp.

    20,225       218,228  

Glacier Bancorp, Inc.

    6,258       178,353  

Hancock Whitney Corp.

    4,861       179,808  

Home BancShares, Inc.

    10,619       222,362  

International Bancshares Corp.

    3,014       130,627  

New York Community Bancorp, Inc., Class A

    40,563       459,984  

Old National Bancorp

    16,486       239,706  

Pinnacle Financial Partners, Inc.

    4,321       289,680  

Prosperity Bancshares, Inc.

    5,277       288,019  

SouthState Corp.

    4,280       288,301  

Synovus Financial Corp.

    8,236       228,961  

Texas Capital Bancshares, Inc.(a)

    2,712       159,737  

UMB Financial Corp.

    2,467       153,077  

United Bankshares, Inc.

    7,583       209,215  

Valley National Bancorp

    24,041       205,791  

Webster Financial Corp.

    9,729       392,176  

Wintrust Financial Corp.

    3,448       260,324  
   

 

 

 
      6,466,683  
Beverages — 0.8%            

Boston Beer Co., Inc. (The), Class A, NVS(a)

    533       207,620  

Celsius Holdings, Inc.(a)

    2,763       474,131  

Coca-Cola Consolidated, Inc.

    264       167,988  
   

 

 

 
      849,739  
Biotechnology — 1.8%            

Arrowhead Pharmaceuticals, Inc.(a)(b)

    6,011       161,516  

Exelixis, Inc.(a)

    17,875       390,569  

Halozyme Therapeutics, Inc.(a)

    7,429       283,788  
Security   Shares     Value  
Biotechnology (continued)            

Neurocrine Biosciences, Inc.(a)

    5,483     $ 616,837  

United Therapeutics Corp.(a)

    2,635       595,167  
   

 

 

 
      2,047,877  
Broadline Retail — 0.6%            

Kohl’s Corp.

    6,202       129,994  

Macy’s, Inc.

    15,359       178,318  

Nordstrom, Inc.

    5,433       81,169  

Ollie’s Bargain Outlet Holdings, Inc.(a)

    3,475       268,200  
   

 

 

 
      657,681  
Building Products — 4.4%            

Advanced Drainage Systems, Inc.

    3,888       442,571  

Builders FirstSource, Inc.(a)(b)

    7,020       873,920  

Carlisle Cos., Inc.

    2,803       726,706  

Fortune Brands Innovations, Inc.

    7,124       442,828  

Lennox International, Inc.

    1,795       672,120  

Owens Corning

    5,044       688,052  

Simpson Manufacturing Co., Inc.

    2,397       359,095  

Trex Co., Inc.(a)(b)

    6,096       375,696  

UFP Industries, Inc.

    3,471       355,430  
   

 

 

 
      4,936,418  
Capital Markets — 2.2%            

Affiliated Managers Group, Inc.

    1,971       256,900  

Evercore, Inc., Class A

    1,965       270,934  

Federated Hermes, Inc., Class B

    4,951       167,690  

Interactive Brokers Group, Inc., Class A

    6,006       519,879  

Janus Henderson Group PLC

    7,464       192,721  

Jefferies Financial Group, Inc.

    9,926       363,589  

SEI Investments Co.

    5,651       340,360  

Stifel Financial Corp.

    5,867       360,469  
   

 

 

 
          2,472,542  
Chemicals — 2.2%            

Ashland, Inc.

    2,869       234,340  

Avient Corp.

    5,131       181,227  

Axalta Coating Systems Ltd.(a)

    12,454       335,013  

Cabot Corp.

    3,149       218,131  

Chemours Co. (The)

    8,331       233,685  

NewMarket Corp.

    388       176,556  

RPM International, Inc.

    7,246       686,993  

Scotts Miracle-Gro Co. (The)

    2,327       120,259  

Westlake Corp.

    1,799       224,281  
   

 

 

 
      2,410,485  
Commercial Services & Supplies — 1.5%            

Brink’s Co. (The)

    2,619       190,244  

Clean Harbors, Inc.(a)

    2,827       473,127  

MSA Safety, Inc.

    2,075       327,124  

Stericycle, Inc.(a)

    5,204       232,671  

Tetra Tech, Inc.

    2,989       454,417  
   

 

 

 
      1,677,583  
Communications Equipment — 0.6%            

Calix, Inc.(a)

    3,305       151,501  

Ciena Corp.(a)(b)

    8,394       396,701  

Lumentum Holdings, Inc.(a)

    3,872       174,937  
   

 

 

 
      723,139  
Construction & Engineering — 1.8%            

AECOM

    7,789       646,798  

EMCOR Group, Inc.

    2,646       556,692  

MasTec, Inc.(a)

    3,400       244,698  

 

 

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, 2023

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Construction & Engineering (continued)            

MDU Resources Group, Inc.

    11,401     $ 223,232  

Valmont Industries, Inc.

    1,184       284,409  
   

 

 

 
      1,955,829  
Construction Materials — 0.4%            

Eagle Materials, Inc.

    1,991       331,541  

Knife River Corp.(a)

    2,854       139,361  
   

 

 

 
      470,902  
Consumer Finance — 0.2%            

SLM Corp.

    12,707       173,069  
   

 

 

 
Consumer Staples Distribution & Retail — 1.3%            

BJ’s Wholesale Club Holdings, Inc.(a)(b)

    7,544       538,415  

Grocery Outlet Holding Corp.(a)

    5,540       159,829  

Sprouts Farmers Market, Inc.(a)

    5,738       245,587  

U.S. Foods Holding Corp.(a)

    12,753       506,294  
   

 

 

 
          1,450,125  
Containers & Packaging — 2.2%            

AptarGroup, Inc.

    3,685       460,772  

Berry Global Group, Inc.

    6,631       410,525  

Crown Holdings, Inc.

    6,774       599,364  

Graphic Packaging Holding Co.

    17,250       384,330  

Greif, Inc., Class A, NVS

    1,430       95,538  

Silgan Holdings, Inc.

    4,704       202,789  

Sonoco Products Co.

    5,516       299,795  
   

 

 

 
      2,453,113  
Diversified Consumer Services — 1.0%            

Graham Holdings Co., Class B

    208       121,264  

Grand Canyon Education, Inc.(a)(b)

    1,680       196,358  

H&R Block, Inc.

    8,553       368,292  

Service Corp. International

    8,470       483,976  
   

 

 

 
      1,169,890  
Diversified Telecommunication Services — 0.5%        

Frontier Communications Parent, Inc.(a)(b)

    12,484       195,374  

Iridium Communications, Inc.

    7,026       319,613  
   

 

 

 
      514,987  
Electrical Equipment — 2.4%            

Acuity Brands, Inc.

    1,758       299,405  

EnerSys

    2,310       218,688  

Hubbell, Inc.

    3,011       943,677  

nVent Electric PLC

    9,307       493,178  

Regal Rexnord Corp.

    3,723       531,942  

Sunrun, Inc.(a)(b)

    12,159       152,717  

Vicor Corp.(a)

    1,258       74,084  
   

 

 

 
      2,713,691  
Electronic Equipment, Instruments & Components — 4.1%        

Arrow Electronics, Inc.(a)

    3,125       391,375  

Avnet, Inc.

    5,141       247,745  

Belden, Inc.

    2,384       230,175  

Cognex Corp.

    9,673       410,522  

Coherent Corp.(a)

    7,286       237,815  

Crane NXT Co.

    2,707       150,428  

IPG Photonics Corp.(a)

    1,672       169,775  

Jabil, Inc.

    7,348       932,388  

Littelfuse, Inc.

    1,396       345,259  

National Instruments Corp.

    7,383       440,174  

Novanta, Inc.(a)(b)

    2,014       288,888  

TD SYNNEX Corp.

    2,689       268,524  

Vishay Intertechnology, Inc.

    7,120       176,006  

Vontier Corp.

    8,699       268,973  
   

 

 

 
      4,558,047  
Security   Shares     Value  
Energy Equipment & Services — 1.0%            

ChampionX Corp.

    11,037     $ 393,138  

NOV, Inc.

    22,108       462,057  

Valaris Ltd.(a)

    3,583       268,653  
   

 

 

 
      1,123,848  
Entertainment — 0.2%            

TKO Group Holdings, Inc., Class A

    2,940       247,136  
   

 

 

 
Financial Services — 1.6%            

Essent Group Ltd.

    6,023       284,828  

Euronet Worldwide, Inc.(a)

    2,659       211,071  

MGIC Investment Corp.

    15,834       264,269  

Voya Financial, Inc.

    5,939       394,647  

Western Union Co. (The)

    17,182       226,459  

WEX, Inc.(a)

    2,411       453,485  
   

 

 

 
          1,834,759  
Food Products — 1.4%            

Darling Ingredients, Inc.(a)

    8,955       467,451  

Flowers Foods, Inc.

    10,816       239,899  

Ingredion, Inc.

    3,721       366,146  

Lancaster Colony Corp.

    1,148       189,455  

Pilgrim’s Pride Corp.(a)

    2,257       51,527  

Post Holdings, Inc.(a)(b)

    2,859       245,131  
   

 

 

 
      1,559,609  
Gas Utilities — 1.0%            

New Jersey Resources Corp.

    5,462       221,921  

ONE Gas, Inc.

    3,120       213,034  

Southwest Gas Holdings, Inc.

    3,385       204,488  

Spire, Inc.

    2,951       166,967  

UGI Corp.

    11,796       271,308  
   

 

 

 
      1,077,718  
Ground Transportation — 2.3%            

Avis Budget Group, Inc.(a)

    1,113       199,995  

Hertz Global Holdings, Inc.(a)

    7,507       91,961  

Knight-Swift Transportation Holdings, Inc.

    9,056       454,158  

Landstar System, Inc.

    2,019       357,242  

Ryder System, Inc.

    2,565       274,327  

Saia, Inc.(a)

    1,490       593,989  

Werner Enterprises, Inc.

    3,555       138,467  

XPO, Inc.(a)

    6,511       486,111  
   

 

 

 
      2,596,250  
Health Care Equipment & Supplies — 3.1%            

Enovis Corp.(a)

    2,792       147,222  

Envista Holdings Corp.(a)

    9,212       256,831  

Globus Medical, Inc., Class A(a)

    6,583       326,846  

Haemonetics Corp.(a)

    2,852       255,482  

ICU Medical, Inc.(a)

    1,136       135,195  

Inari Medical, Inc.(a)

    2,875       188,025  

Integra LifeSciences Holdings Corp.(a)

    3,971       151,653  

Lantheus Holdings, Inc.(a)(b)

    3,848       267,359  

LivaNova PLC(a)

    3,022       159,803  

Masimo Corp.(a)

    2,498       219,025  

Neogen Corp.(a)

    11,091       205,627  

Penumbra, Inc.(a)

    2,158       522,042  

QuidelOrtho Corp.(a)

    2,783       203,270  

Shockwave Medical, Inc.(a)

    2,064       410,942  
   

 

 

 
      3,449,322  
Health Care Providers & Services — 2.6%            

Acadia Healthcare Co., Inc.(a)

    5,177       363,995  

Amedisys, Inc.(a)

    1,831       171,015  

Chemed Corp.

    847       440,186  

 

 

16  

2 0 2 3   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, 2023

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Health Care Providers & Services (continued)            

Encompass Health Corp.

    5,629     $ 378,044  

HealthEquity, Inc.(a)(b)

    4,800       350,640  

Option Care Health, Inc.(a)

    10,105       326,897  

Patterson Cos., Inc.

    4,771       141,412  

Progyny, Inc.(a)

    4,656       158,397  

R1 RCM, Inc.(a)

    11,042       166,403  

Tenet Healthcare Corp.(a)

    5,702       375,705  
   

 

 

 
          2,872,694  
Health Care REITs — 1.2%            

Healthcare Realty Trust, Inc.

    21,398       326,747  

Medical Properties Trust, Inc.

    33,722       183,785  

Omega Healthcare Investors, Inc.

    13,748       455,884  

Physicians Realty Trust

    13,374       163,029  

Sabra Health Care REIT, Inc.

    12,966       180,746  
   

 

 

 
      1,310,191  
Health Care Technology — 0.1%            

Doximity, Inc., Class A(a)(b)

    7,081       150,259  
   

 

 

 
Hotel & Resort REITs — 0.1%            

Park Hotels & Resorts, Inc.

    12,171       149,947  
   

 

 

 
Hotels, Restaurants & Leisure — 3.5%            

Aramark

    14,656       508,563  

Boyd Gaming Corp.

    3,976       241,860  

Choice Hotels International, Inc.

    1,410       172,739  

Churchill Downs, Inc.

    3,825       443,853  

Hilton Grand Vacations, Inc.(a)

    4,074       165,812  

Light & Wonder, Inc., Class A(a)

    5,117       364,996  

Marriott Vacations Worldwide Corp.

    1,915       192,706  

Penn Entertainment, Inc.(a)

    8,519       195,511  

Planet Fitness, Inc., Class A(a)

    4,766       234,392  

Texas Roadhouse, Inc.

    3,749       360,279  

Travel + Leisure Co.

    4,146       152,283  

Wendy’s Co. (The)

    9,546       194,834  

Wingstop, Inc.(b)

    1,685       303,030  

Wyndham Hotels & Resorts, Inc.

    4,733       329,133  
   

 

 

 
      3,859,991  
Household Durables — 1.9%            

Helen of Troy Ltd.(a)

    1,350       157,356  

KB Home

    4,382       202,799  

Leggett & Platt, Inc.

    7,514       190,931  

Taylor Morrison Home Corp., Class A(a)

    6,138       261,540  

Tempur Sealy International, Inc.

    9,666       418,924  

Toll Brothers, Inc.

    6,139       454,041  

TopBuild Corp.(a)

    1,783       448,603  
   

 

 

 
      2,134,194  
Independent Power and Renewable Electricity Producers — 0.2%  

Ormat Technologies, Inc.

    3,019       211,088  
   

 

 

 
Industrial REITs — 1.5%            

EastGroup Properties, Inc.

    2,549       424,485  

First Industrial Realty Trust, Inc.

    7,428       353,498  

Rexford Industrial Realty, Inc.

    11,591       572,016  

STAG Industrial, Inc.

    10,092       348,275  
   

 

 

 
      1,698,274  
Insurance — 4.9%            

American Financial Group, Inc.

    3,716       414,966  

Brighthouse Financial, Inc.(a)

    3,690       180,589  

CNO Financial Group, Inc.

    6,337       150,377  

Erie Indemnity Co., Class A, NVS

    1,400       411,306  

First American Financial Corp.

    5,783       326,682  

Hanover Insurance Group, Inc. (The)

    2,012       223,292  
Security   Shares     Value  
Insurance (continued)            

Kemper Corp.

    3,376     $ 141,893  

Kinsale Capital Group, Inc.

    1,235       511,450  

Old Republic International Corp.

    14,862       400,382  

Primerica, Inc.

    2,008       389,572  

Reinsurance Group of America, Inc.

    3,717       539,671  

RenaissanceRe Holdings Ltd.

    2,874       568,822  

RLI Corp.

    2,255       306,432  

Selective Insurance Group, Inc.

    3,402       350,984  

Unum Group

    10,324       507,838  
   

 

 

 
      5,424,256  
Interactive Media & Services — 0.4%            

Ziff Davis, Inc.(a)

    2,620       166,868  

ZoomInfo Technologies, Inc., Class A(a)

    17,178       281,719  
   

 

 

 
      448,587  
IT Services — 0.2%            

Kyndryl Holdings, Inc.(a)

    12,909       194,926  
   

 

 

 
Leisure Products — 0.9%            

Brunswick Corp.

    3,925       310,075  

Polaris, Inc.

    2,999       312,316  

Topgolf Callaway Brands Corp.(a)

    8,050       111,412  

YETI Holdings, Inc.(a)

    4,856       234,156  
   

 

 

 
      967,959  
Life Sciences Tools & Services — 1.2%            

Azenta, Inc.(a)

    3,373       169,291  

Bruker Corp.

    5,527       344,332  

Medpace Holdings, Inc.(a)

    1,307       316,464  

Repligen Corp.(a)

    2,911       462,878  
   

 

 

 
      1,292,965  
Machinery — 4.7%            

AGCO Corp.

    3,490       412,797  

Chart Industries, Inc.(a)

    2,357       398,616  

Crane Co.(b)

    2,734       242,889  

Donaldson Co., Inc.

    6,807       405,970  

Esab Corp.

    3,193       224,213  

Flowserve Corp.

    7,385       293,701  

Graco, Inc.

    9,488       691,485  

Lincoln Electric Holdings, Inc.

    3,223       585,909  

Middleby Corp. (The)(a)

    3,008       385,024  

Oshkosh Corp.

    3,668       350,037  

Terex Corp.

    3,792       218,495  

Timken Co. (The)

    3,675       270,076  

Toro Co. (The)

    5,834       484,805  

Watts Water Technologies, Inc., Class A

    1,542       266,488  
   

 

 

 
      5,230,505  
Marine Transportation — 0.2%            

Kirby Corp.(a)

    3,345       276,966  
   

 

 

 
Media — 0.9%            

Cable One, Inc.

    256       157,604  

New York Times Co. (The), Class A

    9,185       378,422  

Nexstar Media Group, Inc., Class A

    1,876       268,962  

TEGNA, Inc.

    11,301       164,656  
   

 

 

 
      969,644  
Metals & Mining — 2.7%            

Alcoa Corp.

    10,052       292,111  

Cleveland-Cliffs, Inc.(a)

    28,560       446,393  

Commercial Metals Co.

    6,561       324,179  

MP Materials Corp., Class A(a)

    8,056       153,870  

Reliance Steel & Aluminum Co.

    3,288       862,212  

Royal Gold, Inc.

    3,689       392,251  

 

 

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, 2023

  

iShares® ESG Screened S&P Mid-Cap ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Metals & Mining (continued)            

United States Steel Corp.

    12,518     $ 406,585  

Worthington Industries, Inc.

    1,709       105,650  
   

 

 

 
      2,983,251  
Mortgage Real Estate Investment Trusts (REITs) — 0.8%        

Annaly Capital Management, Inc.

    27,730       521,601  

Starwood Property Trust, Inc.

    16,694       323,029  
   

 

 

 
      844,630  
Office REITs — 0.6%            

COPT Defense Properties

    6,312       150,415  

Cousins Properties, Inc.

    8,497       173,084  

Kilroy Realty Corp.

    6,013       190,071  

Vornado Realty Trust

    9,023       204,641  
   

 

 

 
      718,211  
Oil, Gas & Consumable Fuels — 1.4%            

Antero Midstream Corp.

    19,159       229,525  

DT Midstream, Inc.

    5,457       288,784  

Equitrans Midstream Corp.

    24,373       228,375  

HF Sinclair Corp.

    8,166       464,890  

PBF Energy, Inc., Class A

    6,179       330,762  
   

 

 

 
      1,542,336  
Paper & Forest Products — 0.2%            

Louisiana-Pacific Corp.

    3,619       200,022  
   

 

 

 
Personal Care Products — 0.5%            

BellRing Brands, Inc.(a)

    7,401       305,143  

Coty, Inc., Class A(a)(b)

    20,154       221,090  
   

 

 

 
      526,233  
Pharmaceuticals — 0.6%            

Jazz Pharmaceuticals PLC(a)

    3,545       458,865  

Perrigo Co. PLC

    7,616       243,331  
   

 

 

 
      702,196  
Professional Services — 3.1%            

ASGN, Inc.(a)

    2,724       222,496  

Concentrix Corp.

    2,434       194,988  

ExlService Holdings, Inc.(a)

    9,317       261,249  

Exponent, Inc.

    2,860       244,816  

FTI Consulting, Inc.(a)

    1,909       340,585  

Genpact Ltd.

    9,370       339,194  

Insperity, Inc.

    2,045       199,592  

KBR, Inc.

    7,575       446,471  

ManpowerGroup, Inc.

    2,795       204,929  

Maximus, Inc.

    3,418       255,256  

Paylocity Holding Corp.(a)

    2,418       439,351  

Science Applications International Corp.

    3,012       317,886  
   

 

 

 
          3,466,813  
Real Estate Management & Development — 0.3%        

Jones Lang LaSalle, Inc.(a)

    2,678       378,080  
   

 

 

 
Residential REITs — 1.0%            

Apartment Income REIT Corp.

    8,378       257,205  

Equity LifeStyle Properties, Inc.

    10,458       666,279  

Independence Realty Trust, Inc.

    12,660       178,126  
   

 

 

 
      1,101,610  
Retail REITs — 1.4%            

Agree Realty Corp.

    5,421       299,456  

Brixmor Property Group, Inc.

    16,883       350,829  

Kite Realty Group Trust

    12,354       264,623  

NNN REIT, Inc.

    10,245       362,058  

Spirit Realty Capital, Inc.

    7,959       266,865  
   

 

 

 
      1,543,831  
Security   Shares     Value  
Semiconductors & Semiconductor Equipment — 2.7%        

Allegro MicroSystems, Inc.(a)

    3,990     $ 127,441  

Amkor Technology, Inc.

    5,817       131,464  

Cirrus Logic, Inc.(a)

    3,079       227,723  

Lattice Semiconductor Corp.(a)

    7,739       665,012  

MACOM Technology Solutions Holdings, Inc.(a)

    3,021       246,453  

MKS Instruments, Inc.

    3,539       306,265  

Power Integrations, Inc.

    3,228       246,329  

Silicon Laboratories, Inc.(a)

    1,794       207,907  

Synaptics, Inc.(a)

    2,232       199,630  

Universal Display Corp.

    2,447       384,154  

Wolfspeed, Inc.(a)

    7,007       266,967  
   

 

 

 
      3,009,345  
Software — 3.0%            

ACI Worldwide, Inc.(a)

    6,139       138,496  

Aspen Technology, Inc.(a)

    1,596       325,999  

Blackbaud, Inc.(a)

    2,433       171,089  

CommVault Systems, Inc.(a)

    2,456       166,050  

Dropbox, Inc., Class A(a)

    14,479       394,263  

Dynatrace, Inc.(a)

    13,338       623,285  

Envestnet, Inc.(a)

    2,732       120,290  

Manhattan Associates, Inc.(a)

    3,462       684,299  

NCR Corp.(a)

    7,550       203,623  

Qualys, Inc.(a)

    2,066       315,168  

Teradata Corp.(a)

    5,628       253,373  
   

 

 

 
      3,395,935  
Specialized REITs — 1.5%            

CubeSmart

    12,622       481,277  

EPR Properties

    4,224       175,465  

Lamar Advertising Co., Class A

    4,915       410,255  

National Storage Affiliates Trust

    4,656       147,782  

PotlatchDeltic Corp.

    4,506       204,527  

Rayonier, Inc.

    7,687       218,772  
   

 

 

 
          1,638,078  
Specialty Retail — 2.8%            

AutoNation, Inc.(a)(b)

    1,512       228,917  

Five Below, Inc.(a)(b)

    3,125       502,812  

GameStop Corp., Class A(a)

    15,040       247,558  

Gap, Inc. (The)

    11,971       127,252  

Lithia Motors, Inc., Class A

    1,548       457,171  

Murphy U.S.A., Inc.

    1,096       374,536  

Penske Automotive Group, Inc.

    1,096       183,098  

RH(a)

    870       229,993  

Valvoline, Inc.

    7,798       251,408  

Williams-Sonoma, Inc.

    3,606       560,372  
   

 

 

 
      3,163,117  
Technology Hardware, Storage & Peripherals — 0.6%        

Super Micro Computer, Inc.(a)

    2,564       703,100  
   

 

 

 
Textiles, Apparel & Luxury Goods — 2.2%            

Capri Holdings Ltd.(a)

    6,520       343,017  

Carter’s, Inc.

    2,091       144,593  

Columbia Sportswear Co.

    1,961       145,310  

Crocs, Inc.(a)

    3,471       306,247  

Deckers Outdoor Corp.(a)

    1,467       754,170  

PVH Corp.

    3,516       269,009  

Skechers U.S.A., Inc., Class A(a)

    7,547       369,426  

Under Armour, Inc., Class A(a)